Automotive Trade Association Executives

“Active membership in the association is limited to the chief paid executives of trade associations which represent franchised new automobile and truck dealerships and which represent dealerships of substantially all of the line makes of automobiles and trucks sold at retail, both domestic and imports, and whose purposes are consistent with the objectives of the association. Membership is held in the name of the trade association which employs the active member.”

“Atae members elect one member from each of the four regions each year, for a two year term, to serve on the board of directors. Executive committee members are nominated by the nominating committee and approved by unanimous consent of the membership, for a one year term, as outlined in the atae bylaws.”

“Should amendments to the atae bylaws be recommended by the governing body, those changes would have to be approved by two thirds of active members present and voting.”

“Form 990 is provided to the governing body which examines the return and any accompanying documents for completeness and accuracy before signing and submitting the return to the internal revenue service.”

“The organization's chief employed executive and chief employed finance executive will monitor proposed or ongoing transactions for conflicts of interest and disclose them to the chairman of the board of directors in order to deal with potential or actual conflicts, whether discovered before or after the transaction has occurred.”

“The compensation of the individual is reviewed and approved by the executive committee of the organization not to include individuals with conflicts of interest. Compensation is reviewed and approved based on comparable compensation of similarly qualified individuals in functionally comparable positions at similar organizations. The compensation review process is contemporaneously documented.”

“Available upon written request.”

“VA”

“Prior period adjustment - gaap 25,511.”