Military Benefit Association

“At year end, the organization had approximately 109,000 active members. The members in the association consist of personnel on active duty in any component of the united states uniformed services, reserve services, veteran members, civilian employees of the us government and dependents of members. The control of the association is vested in the membership.”

“The control of the association is vested in the members. Meetings of members include the annual meeting of members and other meetings as may be called by the chairman of the board of directors in response to (1) a vote by a majority of the board or (2) a written request signed by at least ten percent of the members of the association. A vote by the members is required to appoint or fill vacancies on the board of directors and approve certain changes to the articles of organization. Members may vote in person or by signed proxy. Actions taken by a majority of the members voting are final.”

“The association's members approve certain changes to the articles of organization.”

“Association officers provide the form 990 to all directors for review and approval before it is filed. The directors' approval is documented in the association's minutes.”

“Each director, officer, advisor and member of a committee with governing board delegated powers shall sign a statement which affirms such a person: (a) has received a copy of the conflicts of interest policy. (b) has read and understands the policy. (c) has agreed to comply with the policy, and (d) d. Understands the association is a 501c(9) non-profit voluntary employee benefit association (veba) and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. The association periodically reviews whether or not their transactions or arrangements can be arranged to be more advantageous without producing a conflict of interest, and if not possible, holds a vote to determine if such transactions or arrangements are in the association's best interests. The association reserves the right to implement disciplinary or corrective action for violations of the conflict of interest policy.”

“The association has a board sub-committee to consider independent compensation analysis and establish the compensation schedule for the offices of president, vice president and treasurer.”

“The organization makes its governing documents and financial statements available to the membership upon written request.”

“Correction of deferred revenue -881,630. Subsidiary net income -29,832.”