Construction Legal Rights Foundation

“Clrf's bylaws were changed during the year: article i. Trustees section 2. Number and tenure 1. The board of trustees shall be appointed by the chairman of associated builders and contractors, inc. (abc), a trade association accorded section 501(c)(6) status by the internal revenue service. Each trustee shall hold office for a renewable term of three years and until a successor shall have been appointed by the chairman of abc and qualify. Each trustee who chooses to serve beyond his/her three-year term may be re-appointed by the chairman of abc. The number of trustees shall be twelve. A minimum of ten trustees must be current contractor members in good standing with abc, of which three members shall currently hold or have held positions on the abc board of directors or a national committee of abc. The board of trustees shall keep minutes of its meetings and a full account of its transactions. 2. The chairman of the board of trustees (chairman) shall hold office for a renewable term of one year. A chairman who chooses to serve beyond his/her renewable one-year term may be re-elected from among the trustees. Section 5. Place of meetings the board of trustees may hold its regular and special meetings at such place within or without the state of maryland as it may from time to time determine. Section 8. Vacancies any vacancy occurring in the board of trustees may be filled by the chairman of abc. A trustee appointed by the chairman of abc to fill a vacancy shall be appointed for the unexpired term of the predecessor in office.”

“The foundation's board of trustees are appointed by the chariman of the association of builders and contractors inc., a related organization.”

“The foundation hires an independent accounting firm to prepare the federal form 990. Upon submission of the draft, the 990 is reviewed by the foundation's management. The final draft is distributed to all trustees in advance of filing. If no questions or edits from the review of trustees or management, the 990 is then signed and filed with the irs.”

“Each member of the board of trustees is required to disclose and certify his or her compliance with the conflict of interest policy on an annual basis. To the extent that a conflict of interest arises, the trustee would recuse himself or herself from the relevant proceedings.”

“The foundation will make its organizational documents, federal form 990, and financial statements as required for public disclosure, available upon request for the same period of disclosure as forth in section 6104(d).”

“Construction legal rights foundation does not compensate anyone shown in part vii of the form 990 or schedule j, part ii. The compensation shown in these sections is paid by the associated builders and contractors, inc, the foundation's related organization. The foundation relies on the compensation determination methodology of associated builders and contractors, inc. The following is the compensation methodology used by associated builders and contractors, inc: the compensation committee reviews and determines the salary of the president/ceo. The president/ceo reviews and determines the salary of key employees. Approximately every three years, the association employs a consultant to perform a salary survey of all positions to determine comparable salaries in the washing dc metropolitan area. Bonus /incentive compensation is derived by an evaluation of the compensation committee of performance against the organizations strategic and operational objectives for the year.”

“The process for overseeing the audit of the financial statements and selection of an independent accountant that audited the financial statements has been consistent with prior years.”

“The organization did not solicit any contributions during the year, the contribution reported on form 990 was made voluntarily to the organization.”