Stispfa

“Line 6 explanation - MEMBERS CONSIST OF MANUFACTURERS OF STEEL TANKS AND STEEL PLATE FABRICATORS.”

“Line 7a explanation - THE BOARD OF DIRECTORS APPOINT A NOMINATION COMMITTEE THAT ANNOUNCES IN ADVANCE TO THE MEMBERSHIP WHEN AN ELECTION IS TO BE HELD AND REQUESTS NAMES TO BE PUT INTO NOMINATION. THE COMMITTEE SELECTS A SLATE OF CANDIDATES WHICH IS PLACED ON THE BALLOT. AT THE TIME OF VOTING, WRITE IN CANDIDATES ARE ALLOWED. ONCE THE BALLOTING PROCEDURE IS CLOSED, THE MEMBERSHIP VOTES VIA SECRET BALLOT, WITH THE PARTIES RECEIVING A MAJORITY OF THE VOTES BEING DECLARED THE NEWLY ELECTED DIRECTORS OF THE BOARD.”

“The bylaws may be amended or repealed by a majority vote of fabricator members or by the board of directors provided, however, that on or after January 28, 1991, no bylaw provision adopted by the members, which clearly provides in the adopting resolution that the bylaw provision may not be altered, amended or repealed except by the members, may be altered, amended or repealed by the board of directors.”

“There is no formal review of form 990 by the governing board. Reliance is placed on the outside professional preparers and in house staff.”

“Written policy only covers executives and the board of directors, and requires disclosure if and when a conflict arises. There is no formal monitoring to enforce compliance. No formal statement disclosing or disclaiming any conflicts of interest is required.”

“An executive committee is appointed by the board of directors to determine the annual salary of the executive secretary/vice president who is the only salaried executive. Factors considered include salaries of comparable persons in similar positions, performance, general economic conditions and the association's budget.”

“The organization's governing documents (by-laws) and financial statements are made available to the public upon request.”