American Composites Manufacturers Association

“Business entities and persons engaged in the composites industry are eligible to become members of the association. Membership classes consist of the following: regular - any person or business engaged in molding composite products is eligible for regular membership in the association. Associate - any person or business engaged in the manufacture or sale of products or services is eligible for associate membership in the association. Affiliate - any person or business entity not eligible for regular or associate membership may be eligible for affiliate membership upon being approved by a majority vote of the board. Affiliate members have no voting rights.”

“Each regular and associate member shall appoint and register with the secretary of the association a person to be its representative in the association who shall represent, vote and act for the member in all of its affairs with the association. Each regular and associate member is entitled to one vote on such occasions.”

“Whenever a question arises which the board believes should be put to a vote of the members, the board may submit such a matter for vote. The results shall be determined according to a majority of the votes received by the secretary within two weeks after such submission. The results of the majority vote shall be binding upon the association.”

“The federal form 990 is reviewed by the director - finance and administration, president, chairman, chairman - elect/treasurer, and immediate past chairman, who make up the compensation committee. A copy of the federal form 990 is also forwarded to the full board of directors prior to the filing of the 990 with the internal revenue service.”

“Newly elected board members are covered on this policy during the orientation and all board members are covered in the board resource book provided annually. The employee handbooks include the written policy, and staff is covered annually in the staff meetings. Members of the board are educated on compliance and are required to disclose knowledge of any issues. Questions regarding a particular situation must be discussed with the acma's executive director or general counsel to determine whether a conflict exists and, if so, how the conflict should be resolved. Failure to do so may result in disciplinary action, up to and including termination.”

“The chairman of the board, chairman-elect of the board, and the past chairman of the board sit on the compensation committee and determine the compensation of the officers. The process sometimes incorporates the industry data and at other times it incorporates what the budget can bear. Reviews are conducted annually in conjunction with the budget approval. The most recent review was conducted in may 2017.”

“The governing documents, conflict of interest policy, and audited financial statements are not generally made available to the general public. The association did not change either its oversight process or selection process during the tax year.”

“Transfer of assets to the international cast polymer association (icpa): -200,000. Effective february 2016, the association signed an agreement with a new 501(c)(6) organization, icpa, that would transfer assets, including reserves, to the new organization as it achieves several milestones. A second distribution of $200,000 was paid to icpa from its reserve fund during the year ended june 30,2017, after reaching its second milestone.”