Million Dollar Round Table

“The organization is governed and managed by an executive committee duly elected by the membership. The committee has five voting officers and includes the chief executive officer as an ex-officio, non-voting member.”

“The organization's membership pays dues on an annual basis that corresponds with the calendar year. The organization has three classes of membership: 1) qualifying, 2) qualifying and life, and 3) life. Each class of membership shall be a privilege which may be granted or withheld each year by the executive committee.”

“Each year a nominating committee of current members is assembled to elect a new nominee to the organization's executive committee.”

“The by-laws may be amended by the members. The process requires notification of the members not less than 30 days prior to the annual meeting and approval by two-thirds of those members present at the annual meeting and casting votes. Amendments may also be made between annual meetings by solicitation of the members by mail or electronic media. This method also requires 30 day notification in advance of the ballot deadline and approval by two-thirds of members casting votes. Members may propose amendments by written petition containing signatures of not less than 20% of all members. Such petition must be submitted 90 days prior to the annual meeting to facilitate compliance with the 30 day notice requirement.”

“The form 990 is prepared by the organization's independent accounting firm and distributed to management and the organization's governing body prior to filing.”

“Each executive committee member is required to agree to the conflict of interest policy and acknowledges this by signing the conflict of interest policy statement on an annual basis. Compliance is monitored by the executive committee on an annual basis. The policy requires full and prompt disclosure to the executive committee of all relevant facts regarding any possible conflicts of interest. Each executive committee member agrees to inform in writing an officer of mdrt not affected by the conflict. They must then refrain from executive committee discussion with respect to the matter and refrain from voting on the matter.”

“The organization uses asae's blue chip and association forum surveys to evaluate compensation at all levels of the organization. The executive committee reviews this information in determining the compensation of the chief executive officer. Occupation specific surveys such as shrm, nfre, and nma are reviewed for most recent compensation documentation. Compensation for all executive positions was reviewed and documented for 2015. Allowances and reimbursements to committee members are determined based upon the guidelines stipulated within the organization's policy book. The policies included within are strictly adhered to. Compensation for all other employees is evaluated on an annual basis by the chief executive officer and director of human resources. Compensation studies previously mentioned are used in the process of evaluating all other employees. Additionally the organization's job descriptions and salaries are reviewed by an external third party to assess whether the organization's compensation is comparable to like positions in similar organizations. This process is performed and documented approximately once over two to three years.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Change in pension liability 675,569.”

“The organization's executive committee assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process has not changed from the prior year.”