International Association of Bridge Iron Workers Local No 512

“Article iii is the basis for the election of the executive committee members which includes 5 individuals. This is a committee of members elected by the membership. The executive committee acts like a governing board. They may all decisions relating to governance except if a change is required by membership approval. All rule making authority is documented in the bylaws and the international constitution.”

“The organization has four classes of members: journeyman, apprentice, honorary, and lifetime.”

“Journeyman members in good standing are able to vote for local union officers and executive committee members at annual regional meetings.”

“Decisions/amendments rendered by the organization's governing bodies/officers as contained in meeting minutes are read off at the regular monthly membership meeting and are subject to the approval of membership by voice and vote. Approved amendments are forwarded to the office of the general secretary for presentation to the general executive board of the international association and will not become effective until they have approved the changes.”

“The form 990 will be reviewed at the e-board meeting prior to filing.”

“The purpose of this conflict of interest policy (the "policy") is to protect the interests of iron workers local union no. 512 (the "local union") when it is contemplating entering into a contract transaction or arrangement that might benefit the private interest of a member, officer, employee or agent of the local union or might result in a possible excess benefit transaction. All interested persons will be given an opportunity to disclose to the executive committee any material facts regarding a potential transaction or arrangement that may involve a conflict of interest. A person who is determined by the executive committee to have a conflict of interest shall leave the meeting during any discussion of and vote on the transaction or arrangement involving the conflict of interest. The minutes of the executive committee shall contain: (1.) the names of the persons who disclosed or otherwise were found to have a financial interest in connection with an actual or possible conflict of interest, the nature of the financial interest, any action taken to determine whether a conflict of interest in fact existed. (2.) the names of the persons who were present for discussions and votes relating to the transaction or arrangement, the content of the discussion, including any alternative to the proposed transaction or arrangement, and a record of any votes taken in connection with the proceedings.”

“Compensation for the business manager-financial secretary/treasurer and all business agents is outlined in the organization's bylaws. Compensation amounts were approved by a majority of members in good standing by approving the bylaws. Compensation adjusts annually are based on rate changes as allowed for under collective barginning agreements that impact all working members. Compensation discussions are documented in board minutes. This process was last completed in 2024.”

“The organization does not make its governing documents, conflict of interest policy, nor its financial statements available to the public.”

“Change in pac net assets -15,610.”

“MODIFIED CASH BASIS”