Architectural Ironworkers Industry Advancement Fund

“During this fiscal year ended May 31, 2014 the Industry Advancement Fund has changed firms to perform the functions of Executive Director from RFB Associates, Inc. to JFM Holdings, Inc. These services primarily comprise management and planning of functions and activities of the Industry Advancement Fund, incurring expenses for support staff for administrative and accounting purposes, monitoring investment activities nd reporting to the Board on all matters of operational, financial, and investment activities significant to the stability of the Industry Advancement Fund.”

“Board Members of the Iron League of Chicago, recorded on Schedule R as a Related Organization, elect the Board to the Industry Advancement Trust Fund.”

“All revenues of the Industry Fund received as "membership dues" are actually Iron Industry member firm contributions per hour under the terms of the collective bargaining agreement established between the Ironworkers Local #63 and the Iron League of Chicago”

“Board of Directors review the Form 990 prior to filing.”

“The Board of Directors formally reviews budgeted expense against actual operating results as well as comparability with previous Executive Director Firm's compensation in determining current Executive Director Firm's compensation.”

“upon request”

“As this return is the first time a Form 990 is required to be filed, the previous Executive Director informed the Board Members in previous years of the various Policy requirements (but not in written form.) Subsequent to May 31, 2014, a new Firm was engaged to perform the Executive Director Function (JFM Holdings, Inc.) and with the aid of the Trust Fund's outside Certified Public Accountants and with full cooperation and insistence of the Board of Directors, formal Conflict of Interest Policy, Statement of Family or Business Relationships, Whistleblower Policy, and Document Retention Policy have been established in writing. Further, annually, each member of the Board of Directors will acknowledge to the Trust Fund his/her compliance with the established Conflict of Interest Policy as well as indicate in writing whether there are any family or business interests between them and the other Board Members.”

“Board of Directors direct involvement with selection of independent auditing firm and review of final audit and relevant queries as may be required.”