Generic Pharmaceutical Association

“Aam has one class of regular voting members that must meet the following criteria. A regular member shall be a corporation, partnership or other legal entity that derives more than twenty-five percent (25%) of its net revenues in the united states from the development, commercialization, manufacture, sale and/or marketings of finished dose products that are (1) products described in abbreviated new drug applications filed with the u.s. Food & drug administration; (2) products sold as authorized generic drugs in the u.s., (3) biosimilar products, as described in section 351(k) of the public health service act, as amended; and/or (4) drug efficacy study implementation (desi) products. Regular members have full voting rights on a "one company, one vote" basis. Each regular member shall designate in writing one person to exercise the rights of the regular member in this association.”

“Aam's voting members elect the directors of aam's board of directors.”

“Pursuant to aam's bylaws, aam's board of directors have the authority to amend the bylaws. Further, pursuant to the d.c. Not-for-profit corporation act, extraordinary actions must be approved by the voting members.”

“Aam staff and legal counsel provide initial review of the form 990. The form 990 is then reviewed by the audit & finance committee. Finally it is forwarded to all the directors of the board before filing.”

“Aam regularly and consistently monitors compliance with its conflict of interest policy by reminding directors and others subject to the policy periodically of the applicability of the policy and the appropriate manner of complying with the policy.”

“The compensation of the president is determined based on the performance of the president and comparable salaries of executives of similarly situated and competing trade associations in the washington, dc metropolitan area. Compensation of other officers and key employees is determined by the president based on compensation data of similarly situated employees at similarly situated and competing trade associations in the washington, dc metropolitan area.”

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

“Consultants 2,977,416. Payroll processing fees 7,244. Board directed special projects 343,364.”

“The finance and audit committee of the board oversees the audit and recommends selection of an independent auditor by the board. This process has not changed from the prior year.”