Institute for Professionals in Taxation

“The organization has approximately 5,000 members. Guidelines for membership can be viewed in article ii of the by-laws, on the organization's website, www.ipt.org. The classes of membership are: regular members, associate members, affiliate members, academic members, honorary members and retired members.”

“The election of the board of governors and officers is held at the annual meeting of members and is explained in section iii of the organization's by-laws. The by-laws can be viewed on the organization's website, www.ipt.org. Nominations, elections: see article iii, section 5 of the bylaws of the institute, which are available on the organiation's website, www.ipt.org. Manner of holding election: the manner of holding elections, including the forms to be used, the method of voting, the counting of ballots, and the rules of procedure pertaining thereto, shall be prescribed by the board of governors.”

“The organization's members vote on proposed amendments to the by-laws.”

“A copy of the 990 is available to the organization's governing body by the independent paid preparer for review prior to filing. The executive director reviews the return with the chief financial officer and recommends any changes as they see fit.”

“15a - compensation of the executive director is reviewed annually by the executive committee of the institute. The executive committee is comprised of the president, 1st vice president, 2nd vice president and the immediate past president. The executive committee (compensation committee) utilizes salary surveys, comparability data and other contemporaneous documentation in determining the salary of the executive director. 15b - compensation of all employees of the institute is reviewed annually by the executive director. The executive director uses salary surveys and comparability data to ensure that salaries of employees are competitive. The salaries of key staff are then reviewed with the executive committee.”

“The organization's bylaws are available on the organization's website and upon request. The organization's articles of incorporation are available upon request. The organization's conflict of interest/code of ethics policy is available on the organization's website and upon request. The organization's financial statements are available upon request.”

“The financial statements have been prepared using the modified cash basis of accounting.”

“The organization's executive director is responsible for overseeing the audit of the financial statements and for the selection of the independent accountant who audits the financial statements. The executive director then reports to the officers and board of governors.”