Experimental Aircraft Association Inc.

“Classes of members and their rights experimental aircraft association, inc. Has nearly 225,000 members. All members 18 years of age and older are allowed to vote on limited business decisions of the organization.”

“Classes of persons with certain board-election rights members of experimental aircraft association, inc. Can vote directly for board of directors candidates.”

“Classes of persons with certain approval rights decisions to merge or consolidate with other corporations or businesses and decicions to sell, lease, exchange or otherwise dispose of all, or substantially all, of the property and assets of the organization would require a vote of the membership. Form 990, part vi, section b, line 10b: local chapter, affiliate, or branch activities policies experimental aircraft association, inc. Has designated "chapters" but such chapters do no meet the definition of "chapters" within the meaning provided by form 990 instructions. Experimental aircraft association, inc. Does not have legal authority to exercise supervision and control over the affairs of the affiliated chapters. Accordingly, the organization has answered form 990, part vi, line 10a "no".”

“Process the organization uses to review form 990 the form 990 was prepared by a national accounting firm and reviewed by organization management. The audit committee of the board reviewed a draft copy of the return with management and the independent tax return preparers. After approval by the audit committee, the form 990 was updated to incorporate any necessary changes and a copy of the return was provided electronically to the cfo to distribute to the entire board of directors with a request for feedback. Subsequent to receipt of feedback, necessary changes were made to the draft form 990. The finalized version of form 990 was provided to all members of the board of directors and then filed with the irs on or before the january 18, 2022 extended filing deadline.”

“Organization's practices for monitoring conflicts of interest all officers, directors, and key employees are required to sign the organization's conflict of interest policy. In-house legal counsel reviews all forms. Any disclosures noted are brought to the attention of the audit committee for review.”

“Process for determining compensation of top management the hr & governance committee makes decisions about the ceo/chairman of the board's total compensation in closed session without the presence of the ceo/chairman of the board. This is done on an annual basis and was last done in february 2020. An outside analysis is done evaluating comparable organizations as well as a market analysis of like positions. This procedure was performed in the third quarter of fy2016. Form 990, part vi, line 15b process for determining compensation of officers & key employees an outside market analysis is done for the senior leadership team and presented to the hr & governance committee. The committee, in partnership with the chairman of the board, determines the total compensation for the senior team. This procuedure was performed in the first quarter of fy2016. Changes to the overall compensation of the senior team has been minimal since the last review. An internal comparable market analysis is done for all other positions and is typically done every couple of years unless market conditions shift. This procedure was last performed in the first quarter of fy2016. Form 990, part vi, line 17 states with which a copy of form 990 must be filed the organization files in the listed states for charitable registration purposes.”

“Organization's policy regarding making certain documents public the 2021 fiscal year form 990 will be posted to the organization's website, www.eaa.org, upon the filing of the return with the irs.”

“Organization's policy regarding making certain documents public the annual audited financial statement is available on the organization's website, www.eaa.org. The organization's governing documents are also available upon request, either in hard copy or electronic form, whichever is requested.”

“All other contributions, gifts, and grants in 2020, an adjustment was made to the accounting method for revenue reporting of contributions and sponsorships. This change was made in response to revenue recognition within the gaap audited financial statements. The change resulted in negative contributions, gifts, grants and similar amounts being reported on form 990, part viii, line 1f.”

“Organization name the organization's legal name is "experimental aircraft association, inc." but is also referred to simply as "eaa". Form 990, part i, line 1, description of organization mission: educational offerings & activities which guide new participants & reduce barriers to participation.”

“Eaa experienced a reduction in operations over the course of the 2021 fiscal year due to the novel coronavirus pandemic public emergency. As a result of the pandemic, the eaa canceled all events, including airventure 2020, air tours, education and museum programming. Program participation by eaa's chapter network was significantly impacted as well. These changes in operations, events, and participation are anticipated to only affect the 2021 fiscal year.”

“Number of employees on form w-3 the number of employees on form w-3 is the total employee count for the filing organization. While eaa is the common paymaster for eaa foundation, the number of employees only includes the employee count for eaa.”