National Apartment Association

“There are four categories of membership: industry members include owners, developers and property managers. These members are voting members of their local affiliate and can become delegates to the national assembly of delegates. Direct members also include owners, developers and property managers who do business in an area of the country not covered by an affiliate organization. These members cannot be delegates to the national assembly of delegates. Associate members are suppliers. These members cannot be delegates to the national assembly of delegates. Owner members pay dues on formula based upon the number of apartment units owned or managed.”

“The affiliated local and state associations of naa are divided into regions. The regions may be changed to fit changing patterns of membership. Each region elects the regional vice president, who will be a voting member of the board. The assembly of delegates are members or staff of affiliated associations in good standing. The assembly of delegates elect the officers of the governing body.”

“Bylaw changes, regional representation, and budgets are all subject to approval by the national assembly of delegates.”

“Naa hires an independent accounting firm to prepare the federal form 990. Upon submission, the draft federal form 990 is reviewed by the president & ceo and the chief operating officer. The draft federal form 990 is reviewed by the executive committee of naa prior to filing with the internal revenue service.”

“Naa has a conflict of interest policy which is given and signed when an employee is hired and then on an annual basis this is distributed to all staff for their signatures. Conflicts of interest may occur when naa enters into transactions with either nonprofit organizations or for-profit enterprises. To avoid actual, potential, or even the appearance of, conflicts of interests, persons subject to the policy should disclose any connection or relationship with organizations or enterprises doing business with naa and refrain from participating in decisions affecting transactions between naa and the other organization or enterprise. The mere existence of a connection or relationship shall not prevent a transaction from taking place, however, so long as: (i) the relationship is disclosed; (ii) disinterested individuals make the necessary decisions; and (iii) the terms of the transaction are fair and reasonably comparable to those available in other commercial transactions where the parties are entirely independent of one another.”

“The compensation of the president is determined by members of the executive committee at the annual review. The salary of the other officers and key employees is determined by the president and the coo upon annual review. Annual reviews are signed by both the employee and the supervisor and then recommendation approved by the coo and the president. An outside consultant regularly reviews compensation of key staff with comparable external associations/positions.”

“Naa makes its governing documents, conflict of interest policy, and financial statements available upon written request.”