Food Marketing Institute

“Yes, the bylaws were updated and added a separate governance structure document.”

“The members of fmi consist of persons, firms, partnerships, associations, cooperatives or corporations which own or which provide goods or services to food stores.”

“A member of fmi may cast one vote for officers during the annual meeting. Voting for the officers shall be by written ballot separately for each office, but upon the consent of a majority of the members present, written balloting may be dispensed with and the voting may be by voice of vote.”

“The process fmi uses to review the federal form 990 is for the controller to work closely with the auditing firm to compile related data to complete a draft federal form 990 which is then reviewed and approved by the senior vice president of finance. The completed federal form 990 is then distributed to the entire board of directors electronically before it is filed with the internal revenue service.”

“Fmi annually distributes a conflict of interest questionnaire to fmi's staff, directors and above. These questionnaires are reviewed by the counsel to determine whether any conflicts are present. If a staff member is found to have a conflict, the counsel is required to follow the protocol set forth in the employee handbook to quickly remedy any conflicts of interest that may be present.”

“A compensation committee, comprised of current and past board officers, reviews employee performance and makes compensation adjustments on the basis of this performance in conjunction with a review of market-based, publicly available, comparability data. Periodically, fmi uses the services of an independent consultant to do a more thorough review of compensation ranges for all staff positions. This review process is performed for the ceo's compensation on an annual basis. The last compensation review for senior executive positions were conducted in 2022.”

“Fmi makes its governing documents, federal form 990, conflict of interest policy, and financial statements available to the public upon request.”

“Consultants 2,302,765. Outside services 1,718,589. Speaker fees 214,447. Temporary help 163,726. Photography 37,355.”

“Pension-related changes other than net periodic pension costs 1,016,433.”