Petroleum Packaging Council Inc

“Atd shall secure an exclusive telephone number for ppc which atd shall answer daily from 8 a.m. Through 5 p.m. Pacific time, provided that these hours shall be subject to review and further agreement based upon information regarding before and after hours incoming calls. Atd acknowledges that ppc's board of directors has ultimate control over the management of ppc's affairs. Throughout the term of this agreement, brenda baker, president of atd, shall serve as executive director of ppc. Ppc shall have the right to request a change in the person serving as executive director for good cause and shall have the right to provide input with respect to any change in the person serving as executive director if atd wishes to make a change. 1.3 equipment. Atd shall provide office space and equipment, which will remain under atd's exclusive control, needed to manage the affairs of ppc. Atd's business location, which may change from time to time, shall be ppc's corporate offices and headquarters address. Prior to the commencement of ppc's fiscal year, ppc shall adopt an operating budget for such fiscal year. Such budget, in form and level of detail as shall be mutually agreed upon between atd and ppc, shall be duly adopted by ppc's board of directors. Atd shall monitor the budget as part of its monthly financial reporting obligation to ppc's board of directors. Atd is hereby authorized to handle funds on behalf of ppc. Promptly following the effective date, ppc shall establish one or more accounts in depository institutions mutually agreed upon by ppc and atd. Atd shall deposit all monies received by atd for ppc's account into such accounts. The following persons shall be authorized signatories on all accounts of ppc maintained by atd: ppc's president, ppc's vice president, ppc's treasurer and ppc's assistant treasurer, provided that all checks or withdrawals in excess of $5,000.00 shall require signature of either ppc's president or ppc's treasurer. Atd shall have authority to negotiate and enter into agreements for the purchase of goods and services reasonably necessary to and in the ordinary course of ppc's business, provided that such agreements are consistent with ppc's approved budget and do not obligate ppc beyond the end of the term of this agreement unless otherwise agreed to in writing by ppc's president. Furthermore, atd shall not enter into contracts which cannot be performed within one year nor purchase any goods or services for the account of ppc from any separate entity related to atd without first disclosing to ppc the fact and nature of such relationship or contract.”

“Regular member: a regular member is defined as any individual employed by a firm or corporation or any corporation that is engaged in the packaging of automotive or industrial lubricants and fluids manufactured entirely from or formulated with significant percentages of petroleum-derived components. Packaging includes only commercial packaging and does not include testing, demonstrating or sampling. Associate member: an associate member is defined as any individual employed by a firm or corporation or any corporation which does not qualify for regular membership and which is engaged in the manufacture or supply of packaging materials or services to the automotive or industrial lubricants and fluids industry. Corporate membership or associate corporate membership: companies may purchase a regular or associate corporate membership. A regular corporate membership includes four voting members and unlimited non-voting members.”

“The organization does have members who had the power to elect or appoint one or more members of the governing body.”

“Any decisions made by board of directors regarding changes of bylaws and elections need to be approved by general members.”

“Line 11a explanation - form 990 is reviewed by the treasurer of the organization prior to being signed and filed with internal revenue service.”

“In conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of the committees with board of directors delegated powers considering the proposed arrangement or transaction. If the board of directors or committee has reasonable cause to believe a member has failed to disclose actual or possible conflict of interest, it shall inform the member of the basis for such belief and afford the member the opportunity to explain the alleged failure to disclose. If, after hearing the member's response and after making further investigation as warranted by the circumstances, the board of directors or committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action. To ensure petroleum packaging council operates in a manner consistent with its stated purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews are conducted. The periodic reviews shall, at a minimum, include: whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arm's length bargaining; and whether partnerships, joint ventures and arrangements with management organizations conform to the petroleum packaging council's written polices, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes and do not result in inurement, impermissible private benefit or in an excess benefit transaction.”

“The organization's governing documents and financial statements are available upon request.”

“The affinity program provides members with exclusive purchasing discounts through our partnership with grainger, our current affinity provider. Members can take advantage of preferred pricing on a wide range of products and supplies, generating meaningful savings on essential purchases. As part of this program, grainger provides annual rebates to our organization each january or february. These rebates are calculated based on total member purchases from the previous year and are influenced by year-over-year growth in spending. Because of this structure, rebate amounts can vary significantly from year to year.”

“Realized gain included in unrealized loss -12,921.”