National Grain and Feed Association

“The executive committee shall be a standing board committee, which shall have general charge of the affairs of this corporation, acting in the name of the board when the board is not in session, except where such action is reserved exclusively to the board by the articles of incorporation of the corporation, these bylaws, or by law. The designation of and the delegation of authority to the executive committee shall not operate to relieve the board, or any individual director, of any responsibility vested in them under these bylaws or imposed upon them by law.”

“The association has members, which are divided into six classes: (1) active members; (2) transportation members; (3) allied members; (4) associate members; (5) affiliated association members; and (6) honorary members.”

“Each active and affiliated association member is entitled to one vote at regular meetings and for election of the board of directors.”

“Changes to the bylaws and trade rules are voted on and approved by the membership after approval by the board.”

“The form 990 is provided to the treasurer for review. The form 990 is then forwarded to the entire board of directors, who are given a period of time to respond if they have questions. The return is then signed by an officer of the organization before being filed with the irs.”

“Compensation paid to the president and ceo is determined by ngfa officers and the president and ceo determines the compensation paid to other ngfa employees. An independent compensation consultant performed an analysis in january 2023 and provided recommendations for ngfa employee salaries.”

“The association makes its governing documents, policies, and financial statements available to the public upon request.”

“The organization has not changed its oversight of the audit or selection of an independent auditor processes during the tax year.”

“The organization has an operating agreement with north american export grain association, inc. ("naega"), which the organization provides naega with certain association services and is reimbursed for those on a monthly basis. The reimbursements include payments for salaries. The organization, as the reporting agent, has not listed the number of employees and those w-2s that were reported by naega on their form 990.”