Chartered Alternative Investment Analyst Association Inc

“The controller/assistant treasurer will send an electronic copy of the form 990 to the entire governing body for review and discussion prior to filing the form.”

“The board had voted and approved and put in place a written conflict of interest policy in 2014. All officers, directors, and key employees ("interested person") are required to sign a confict of interest disclosure statement. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with board of directors delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he or she shall leave the board of directors or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. The chairperson of the board of directors or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the board of directors or committee shall determine whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the board of directors or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the organization's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination it shall make its decision as to whether to enter into the transaction or arrangement.”

“A. The board of directors utilizes the services of outside legal counsel and comparability data from financial industry metrics to determine the compensation of the president/chief executive officer and top management officials. B. Key employees salaries are set by the president/chief executive officer in conjunction with compensation study data obtained by the managing director internal operations.”

“The organization makes its governing documents, form 990, and the financial statements available upon request for the same period of disclosure as set forth in section 6104(d). In addition, the form 990 is available via the guidestar website.”

“The fundamentals of alternative investment certificate program (fai): fai is an introductory-level, online self-directed course, designed to provide a foundation of core concepts in alternative investing.”

“Foreign currency adjustment -39,531.”

“The 2014 form 990 return is being amended to report $17,500 of deferred compensation for william kelly, president & ceo, in part vii, column (f) and schedule j, part ii, column (c) which was inadvertently omitted from the return when it was originally electronically filed.”