Aaa Foundation for Traffic Safety

“Mark a. Shaw and donald r. Gagnon are directors of the american automobile association, inc.”

“The american automobile association, inc. Selects six of the 12 trustees on the board of trustees.”

“Form 990 is reviewed by the foundation's audit committee and board of trustees prior to submission.”

“The board of trustees, committees, and the aaa foundation for traffic safety associates are asked to read the foundation's policy on potential conflicts of interest and execute a form identifying any possible conflict of interest on an annual basis. The foundation's executive director and senior managers keep this policy in mind when all potential contracts are being negotiated.”

“A comprehensive study of compensation and benefits, which was conducted by the mercer company in 2014, was used to benchmark the executive director's compensation, along with all associates. The foundation's administrative committee has formalized the process by which executive director's performance is measured and compensation established. That new process was instituted in april of 2015. The aaa's human resources department worked with the aaa foundation for traffic safety to identify key performance indicators and develop new competencies to evaluate staff performance and utilize aaa hr procedures for comparability data.”

“Copies of form 990 and form 1023 are available upon request.”

“Governance documents availability is noted on the aaa foundation for traffic safety's web-page for the same period of disclosure as set forth in irc section 6104(d).”

“Mark a. Shaw (partial year) - 110 royal little drive, providence, ri 02904. Tom mckernan - 3333 fairview road, costa mesa, ca 92626. Donald r. Gagnon (partial year) - 1 river place, wilmington, de 19801. Paul petrillo - 5407 parkwood school road, waxhaw, nc 28173. Joe richardson (partial year) - 1 auto club drive, dearborn, mi 48126. Bob darbelnet (partial year) - 1593 rockdale loop, heathrow, fl 32746. Linda cavanagh (partial year) - 6061 south willow drive, greenwood village,, co 80111. Bill mekrut - 270 central avenue, johnston, ri 02919. Tony buzzelli - 6402 scuffletown road, somerset, va 22972. Kathleen bower - 1000 aaa drive ms 90, heathrow, fl 32746.”

“The return is being amended to add form 5471 information return of u.s. Persons with respect to certain foreign corporations and form 8992 u.s. Shareholder calculation of global intangible low-taxed income (gilti).”

“Aaa foundation for traffic safety ein: 52-0794368 statement supporting reasonable cause for failure to timely file: form 5471, information return of u.s. Persons with respect to certain foreign corporations, and form 8992, u.s. Shareholder calculation of global intangible low-taxed income (gilti) statement of reasonable cause irc sec. 6038 under treas. Reg. Sec. 1.6038-2(k)(3) aaa foundation for traffic safety (the "taxpayer") requests relief from the penalties imposed by internal revenue code (the "irc") sec. 6038 for failure to file forms 5471, information return of u.s. Persons with respect to certain foreign corporations. Such forms were not attached to the taxpayer's form 990, return of organization exempt from income tax, for the tax year ended on december 31, 2020, which were originally due on may 15, 2021, and extended to november 15, 2021. Treas. Reg. Sec. 1.6038-2(k)(3) provides for penalty abatement if reasonable cause exists for failure to furnish the information required under irc sec. 6038 with regards to failure to file form 5471 and form 8992. Delinquent international information return submission procedures are for taxpayers who do not need to use the streamlined filing compliance procedures to file delinquent international tax returns to report and pay additional tax, but who have identified the need to file delinquent international information returns who are not under a civil examination or a criminal investigation by the internal revenue service ("irs") and have not already been contacted by the irs about the delinquent information returns. The procedures allow the taxpayer to file delinquent information return with a statement of all facts establishing reasonable cause for the failure to file. The taxpayer meets all the above requirements with respect to the delinquent filing of the forms and statements described herein. The facts supporting reasonable cause for the late filing follow. Failure to file forms 5471 and 8992 the taxpayer failed to file forms 5471 with its 2020 return to report its interest in drake capital offshore partners ii, l.p. The taxpayer also failed to file form 8992 with its 2020 return, due to its failure to file the above- mentioned form 5471, as the taxpayer has no other ownership interest in which there is a form 5471 filing obligation. The taxpayer is filing an amended form 990, and attaching forms 5471 and 8992, pursuant to the delinquent international information return submission procedures for the period ended december 31, 2020. Facts the taxpayer is an irc sec. 501(c)(3) corporation that conducts or funds research and develops educational materials to enhance traffic safety. The taxpayer has operated since 1947. On january 1, 2015, the taxpayer invested in drake capital offshore partners ii, l.p. (the "foreign corporation") (ein: xxx-xx-xxxx) and obtained an ownership interest of less than 10% of the vote or value. The foreign corporation is a controlled foreign corporation ("cfc"), as defined under irc sec. 957. This investment was not debt-financed, within the meaning of irc sec. 512. This entity was organized in the cayman islands and elected to be treated as a corporation for u.s. Tax purposes. On january 1, 2020, the taxpayer's interest in the foreign corporation was 9.49%. On december 31, 2020, the foreign corporation redeemed the shares of four investors for $3.1 million usd. As a result, the taxpayer's ownership interest in the foreign corporation increased and exceeded 10% making the taxpayer become a us shareholder in the cfc, as defined in irc sec. 958. The taxpayer did not take any action or acquire any additional shares in the process of increasing its ownership interest. Additionally, the taxpayer was not informed of this change in ownership prior to the extended 2020 tax filing deadline of november 15, 2021. The taxpayer was informed of its increase in percentage of ownership in february of 2022. The taxpayer's internal finance team do not have prior experien”

“Form 990 pt. Ix, line 24a research projects consists of the following expenditures: $1,311,094 longroad expenses $315,869 ads tech & driver wl-utah $10,896 consumer education adas $154,500 american driving survey $(1,897) cell phones & crash risk $139,390 tsci/emerging tech perception $80,092 senior policy approaches $(1,501) posted speed limits project $93,625 impact adas mental models $85,798 surveillance for drug driving $300 general research $100,008 countermeasures drowsy driving $22,329 predicting av safety in future $57,422 driver takeover readiness $85,726 protect roadside service”

“There has been no change from prior year to the oversight process or to the process of selecting an independent accountant.”