Association of Insolvency and Restructuring Advisors

“A copy of this Form 990 and attached schedules was circulated to board members, including the Treasurer and the Executive Director, for their review and input prior to filling of this return”

“Article VI of Conflicts of interest Policy provides Each Director, Principal Officer and member of a committee with board delegated powers shall annually sign a statement which affirms that such person a has received a copy of the conflicts of interest of policy, b has read and understands the policy, c has agreed to comply with the policy, and d understands that the Association is a charitable organization and that in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more tax-exempt purposes.”

“Compensation for the Executive Director is documented via a written employment agreement that is approved by the Board of Directors. Prior to each year-end in conjunction with the first Board of Directors meeting for the new year, the Executive Director presents information and recommendations to the Board of Directors in consultation with the Treasurer and/or Finance Committee which includes the overall compensation budget for the new year. Base compensation greater than 100,000 for any individual is subject to review by the Treasurer and/or Finance Committee. A preliminary annual budget is presented to the Board of Directors for discussion and approval generally at the first Board of Directors meeting for the new year. Should the Board require any adjustment to the preliminary budget, the Executive Director revises the budget to comply and resubmits it to the Board for final approval.”

“The Bylaws and Conflict of Interest Policy are posted on the Associations website. AIRAs Form 990 filings are available on the Candid/Guidestar website https//www.guidestar.org and are available from the Association upon request.”