Civic Intelligence

Modular Building Institute

EIN 57-0779460 • 501(c)6 • Charlottesville, VA

Profile

See schedule o for the organization's mission.

285 Hydraulic Ridge Road Suite 6Charlottesville, VA 22901

www.modular.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

84th percentile

0.57x

Higher debt load relative to assets than 84% of similar nonprofits.

501(c)6 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

59th percentile

0.38x

Higher debt load relative to revenue than 59% of similar nonprofits.

501(c)6 • $5M-$10M nonprofits • Source year 2024

Net Margin

28th percentile

-1.5%

Higher net margin than 28% of similar nonprofits.

501(c)6 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

43rd percentile

3.9%

Faster asset growth than 43% of similar nonprofits.

501(c)6 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

65th percentile

11%

Faster revenue growth than 65% of similar nonprofits.

501(c)6 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Up

$3,130,283

Up $117,122 (+3.9%) from 2023

Liabilities

Up

$1,796,361

Up $147,511 (+8.9%) from 2023

Net Assets

Down

$1,333,922

Down $30,389 (-2.2%) from 2023

Revenue

Up

$4,726,821

Up $459,768 (+11%) from 2023

Expenses

Up

$4,797,616

Up $605,920 (+14%) from 2023

Net Income

Down

-$70,795

Down $146,152 (-194%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $1,083,181Liabilities 2011: $899,323Net Assets 2011: $183,8582011Assets 2012: $1,070,916Liabilities 2012: $873,746Net Assets 2012: $197,1702012Assets 2013: $1,264,558Liabilities 2013: $1,057,537Net Assets 2013: $207,0212013Assets 2014: $1,424,488Liabilities 2014: $1,176,217Net Assets 2014: $248,2712014Assets 2015: $1,493,346Liabilities 2015: $1,173,332Net Assets 2015: $320,0142015Assets 2016: $1,424,115Liabilities 2016: $849,229Net Assets 2016: $574,8862016Assets 2017: $1,654,909Liabilities 2017: $920,965Net Assets 2017: $733,9442017Assets 2018: $2,124,410Liabilities 2018: $1,095,125Net Assets 2018: $1,029,2852018Assets 2019: $2,373,963Liabilities 2019: $1,091,892Net Assets 2019: $1,282,0712019Assets 2020: $1,857,428Liabilities 2020: $636,220Net Assets 2020: $1,221,2082020Assets 2021: $2,058,716Liabilities 2021: $1,090,180Net Assets 2021: $968,5362021Assets 2022: $2,678,733Liabilities 2022: $1,408,106Net Assets 2022: $1,270,6272022Assets 2023: $3,013,161Liabilities 2023: $1,648,850Net Assets 2023: $1,364,3112023Assets 2024: $3,130,283Liabilities 2024: $1,796,361Net Assets 2024: $1,333,9222024

Highlighted filing

2024

Assets$3,130,283
Liabilities$1,796,361
Net Assets$1,333,922

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $1,587,921Expenses 2011: $1,673,295Net Income 2011: -$85,3742011Revenue 2012: $1,646,525Expenses 2012: $1,633,213Net Income 2012: $13,3122012Revenue 2013: $1,660,153Expenses 2013: $1,650,302Net Income 2013: $9,8512013Revenue 2014: $1,783,500Expenses 2014: $1,742,250Net Income 2014: $41,2502014Revenue 2015: $2,016,263Expenses 2015: $1,944,520Net Income 2015: $71,7432015Revenue 2016: $1,928,647Expenses 2016: $1,673,775Net Income 2016: $254,8722016Revenue 2017: $1,939,459Expenses 2017: $1,780,401Net Income 2017: $159,0582017Revenue 2018: $2,252,733Expenses 2018: $1,957,392Net Income 2018: $295,3412018Revenue 2019: $2,677,614Expenses 2019: $2,424,828Net Income 2019: $252,7862019Revenue 2020: $2,732,778Expenses 2020: $2,793,641Net Income 2020: -$60,8632020Revenue 2021: $1,866,624Expenses 2021: $2,119,296Net Income 2021: -$252,6722021Revenue 2022: $3,171,696Expenses 2022: $2,869,605Net Income 2022: $302,0912022Revenue 2023: $4,267,053Expenses 2023: $4,191,696Net Income 2023: $75,3572023Revenue 2024: $4,726,821Expenses 2024: $4,797,616Net Income 2024: -$70,7952024

Highlighted filing

2024

Revenue$4,726,821
Expenses$4,797,616
Net Income-$70,795

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.13$1.80$1.33$4.73$4.80$0.07
2023Detailed filing. Detailed filing data is available for this year.$3.01$1.65$1.36$4.27$4.19$0.08
2022Detailed filing. Detailed filing data is available for this year.$2.68$1.41$1.27$3.17$2.87$0.30
2021Detailed filing. Detailed filing data is available for this year.$2.06$1.09$0.97$1.87$2.12$0.25
2020Detailed filing. Detailed filing data is available for this year.$1.86$0.64$1.22$2.73$2.79$0.06
2019Detailed filing. Detailed filing data is available for this year.$2.37$1.09$1.28$2.68$2.42$0.25
2018Detailed filing. Detailed filing data is available for this year.$2.12$1.10$1.03$2.25$1.96$0.30
2017Detailed filing. Detailed filing data is available for this year.$1.65$0.92$0.73$1.94$1.78$0.16
2016Detailed filing. Detailed filing data is available for this year.$1.42$0.85$0.57$1.93$1.67$0.25
2015Detailed filing. Detailed filing data is available for this year.$1.49$1.17$0.32$2.02$1.94$0.07
2014Detailed filing. Detailed filing data is available for this year.$1.42$1.18$0.25$1.78$1.74$0.04
2013Detailed filing. Detailed filing data is available for this year.$1.26$1.06$0.21$1.66$1.65$0.01
2012Summary only. Only limited summary data is available for this year.$1.07$0.87$0.20$1.65$1.63$0.01
2011Summary only. Only limited summary data is available for this year.$1.08$0.90$0.18$1.59$1.67$0.09
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Aug 20, 2025
Return Version
2024v5.0
Gross Receipts
$5,024,536
Mission and Program Overview

Mission

See schedule o for the organization's mission.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,890,377$2,112,192▲ $221,815
Investments in Publicly Traded Securities$488,454$729,113▲ $240,659
Prepaid Expenses and Deferred Charges$346,408$277,294▼ $69,114
Land, Buildings, and Equipment, Net$268,648--
Intangible Assets$19,064--
Accounts Receivable$210$8,000▲ $7,790
Total Assets$3,013,161$3,130,283▲ $117,122
Other Assets Total-$3,684-
Liabilities
Deferred Revenue$1,507,745$1,604,885▲ $97,140
Accounts Payable and Accrued Expenses$137,075$183,421▲ $46,346
Other Liabilities$4,030$8,055▲ $4,025
Total Liabilities$1,648,850$1,796,361▲ $147,511
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,364,311$1,333,922▼ $30,389
Total Net Assets Fund Balance$1,364,311$1,333,922▼ $30,389
Total Liabilities and Net Assets / Fund Balance$3,013,161$3,130,283▲ $117,122

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$10,666$10,666
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,693,778
Investment Income
$33,043
Other Revenue
$0
Change in Net Assets
$-70,795

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,717,575
Revenue Not Reported on Financial Statements
$9,246
Revenue Not Reported on Form 990
$40,406
Total Revenue per Audited Statements
$4,757,981
Total Revenue per Form 990
$4,726,821
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,797,616
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$1,928,325$101,491-$2,029,816
Conferences and Meetings$1,355,205$117,392-$1,472,597
Fees for Services Lobbying$232,915--$232,915
Other Expenses$37,935$124,566-$37,935
Office Expenses-$33,117-$33,117
Fees for Services Accounting-$15,000-$15,000
All Other Expenses$8,585$5,139-$13,724
Fees for Service Investment Mgmnt Fees-$9,246-$9,246
Depreciation Depletion$9,079--$9,079
Fees for Services Legal-$4,756-$4,756
Insurance-$3,434-$3,434
Total Functional Expenses$4,383,475$414,141$0$4,797,616

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$4,797,616
Expenses per Audited Statements$4,788,370
Total Expenses per Audited Statements$4,788,370
Expenses Not Reported on Financial Statements$9,246
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
No
Subject to proxy tax
Yes

Reported Spending and Taxes

Line ItemAmount
Total Nondeductible Lobbying and Political Cost$363,244
Current Year Nondeductible Lobbying and Political Cost$245,850
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Exec DirectorManagement ServicesNo$2,029,816
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliated Organizations$4,925
Tenant Security Deposits$3,130
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

The institute contracted with hardiman-williams, llc for the provision of management services. Hardiman-williams, llc is owned and operated by tom hardiman, executive director, and steve williams, director of operations.

Form 990, Page 6, Part VI, Line 6

The institute has three classes of membership as follows: regular - manufacturers and dealers associate - suppliers of buildings components, services, and financing individual - students, professors, and other individuals

Form 990, Page 6, Part VI, Line 7A

The institute utilizes a nominating committee to oversee the process of preparing a slate of board member candidates from the institute's qualified member companies. These candidates must meet a variety of time, qualification, and participation requirements with the institute and within the industry. The committee considers traits such as industry experience, geographic location, time as an institute member, standing with the institute, and past participation in the institute's annual meetings, the mbi foundation, and on association committees. The board members are limited to two consecutive full terms, with the exeption of specified circumstances.

Form 990, Page 6, Part VI, Line 7B

Each member firm or corporation shall appoint and certify to the association a person to be its representative in the association and who shall represent, vote, and act for the member in all affairs of the association. Each member firm or corporation is entitled to one vote on such occasions.

Form 990, Page 6, Part VI, Line 11B

The form 990 is initially reviewed by the executive director upon its completion. Subsequently, the form 990 is provided to all members of the board for review and approval. Once approved by the governing board, the form 990 filed and made available for public inspection.

Form 990, Page 6, Part VI, Line 12C

The executive director acknowledges and reminds each board member of the conflict of interest policy prior to the commencement of each board meeting.

Form 990, Page 6, Part VI, Line 19

The governing documents, conflict of interest policy, and audited financial statements can be distributed to the public upon request. However, requests are subject to the approval of the executive director and the association's consideration of the intended use of the requested documents.

Filing and Contact Details

Filer

Filer Name
Modular Building Institute
EIN
57-0779460
Phone
4342963288
Address
285 HYDRAULIC RIDGE ROAD SUITE 6, CHARLOTTESVILLE, VA 22901

Signing Officer

Name
Thomas E Hardiman
Title
Executive Director
Phone
4342963288
Signed
2025-08-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Thomas E Hardiman
Formed
1984
Legal Domicile
Va
Voting Board Members
19
Independent Board Members
19
Employees
0
Volunteers
19

Preparer

Firm
Robinson Farmer Cox Associates
Address
10 HEDGEROW DR, STAUNTON, VA 24401
Preparer
Saidee Begoon
Phone
5402487300
Supplemental Narrative

Additional Explanations

Form 990

Form 990, part 1, line 1, description of organization mission: the modular building institute is the only international non-profit trade association serving non-residential modular construction. The organization represents hundreds of companies in countries around the world involved in the manufacturing and distribution of commercial factory-built structures. As a lead organization for education in the industry, the organization encourages the public to rethink modular. The organization provides services to and promotes the business of manufacturers and marketers of non-residential factory-built structures through the education of policy makers regarding building codes and by holding conventions and meetings to educate and improve the industry.

Form 990, Page 2, Part III, Line 4A

The institute seeks to expand the overall market share for modular construction by removing barriers that limit industry growth as well as through outreach and education efforts to promote the advantages of modular construction. Members of both the relocatable buildings division and the permanent modular construction division have the opportunity to participate in various business development offerings and to help influence the regulatory climate. The institute hosts the world of modular annual convention and trade show that provides a place for over 750 industry professionals to network with and learn from industry experts from around the world, exchange ideas, and display new factory-built structures. In addition, the institute's seals program is the commercial modular industry's only labeling program dedicated to promoting high standards of honesty, integrity, professional service, and conduct. The seals provide members with a visible sign of their commitment to the institute's code of ethics and conduct.

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IRS990/Desc0THE INSTITUTE SEEKS TO EXPAND THE OVERALL MARKET SHARE FOR MODULAR CONSTRUCTION BY REMOVING BARRIERS THAT LIMIT INDUSTRY GROWTH AS WELL AS THROUGH OUTREACH AND EDUCATION EFFORTS TO PROMOTE THE ADVANTAGES OF MODULAR CONSTRUCTION. MEMBERS OF BOTH THE RELOCATABLE BUILDINGS DIVISION AND THE PERMANENT MODULAR CONSTRUCTION DIVISION HAVE THE OPPORTUNITY TO PARTICIPATE IN VARIOUS BUSINESS DEVELOPMENT OFFERINGS AND TO HELP INFLUENCE THE REGULATORY CLIMATE. THE INSTITUTE HOSTS THE WORLD OF MODULAR ANNUAL CONVENTION AND TRADE SHOW THAT PROVIDES A PLACE FOR OVER 750 INDUSTRY PROFESSIONALS TO NETWORK WITH AND LEARN FROM INDUSTRY EXPERTS FROM AROUND THE WORLD, EXCHANGE IDEAS, AND DISPLAY NEW FACTORY-BUILT STRUCTURES. IN ADDITION, THE INSTITUTE'S SEALS PROGRAM IS THE COMMERCIAL MODULAR INDUSTRY'S ONLY LABELING PROGRAM DEDICATED TO PROMOTING HIGH STANDARDS OF HONESTY, INTEGRITY, PROFESSIONAL SERVICE, AND CONDUCT. THE SEALS PROVIDE MEMBERS WITH A VISIBLE SIGN OF THEIR COMMITMENT TO THE INSTITUTE'S CODE OF ETHICS AND CONDUCT.
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IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0PART II-B, LINE 1: THE GOVERNMENT AFFAIRS COMMITTEE MONITORS ALL ACTIVITY WITHIN THE INDUSTRY RELATIVE TO NEGATIVE PRESS COVERAGE, RULES, REGULATIONS, AND LAWS EITHER IN FORCE, OR UNDER CONSIDERATION, THAT HAVE A DIRECT EFFECT ON THE ABILITY OF THE MEMBERSHIP TO MANUFACTURE AND INSTALL BUILDINGS. THE COMMITTEE WILL MAKE RECOMMENDATIONS TO THE BOARD FOR POSITIONS THE ASSOCIATION WILL TAKE ON VARIOUS LEGISLATIVE OR REGULATORY ISSUES. THOSE RECOMMENDATIONS INCLUDE: 1) OPPOSE; 2) SUPPORT; 3) SUPPORT WITH AMENDMENTS; 4)SUPPORT CONTINGENT UPON; 5) NO POSITION; OR 6) NO OBJECTION. THESE WILL BE COMMUNICATED TO VARIOUS STAKEHOLDERS AND POLICYMAKERS. FUNDING OF GOVERNMENT AFFAIRS ACTIVITIES - IT SHALL BE THE RESPONSIBILITY OF THE GOVERNMENT AFFAIRS COMMITTEE TO DETERMINE WHAT, IF ANY, LEVEL OF FUNDING TO RECOMMEND FOR SPECIFIC ISSUES. THE LEVEL OF FUNDING MUST BE WITHIN THE APPROVED BUDGET AND WILL BE BASED ON PREDETERMINED ASSESSMENT CRITERIA. THE COMMITTEE SHALL HAVE THE AUTHORITY TO RECOMMEND WHETHER OR NOT TO HIRE PROFESSIONAL ASSISTANCE AND THE PERCENTAGE OF COMMITMENT THE ASSOCIATION WILL FUND, FROM 0 TO 100%, WITHIN PRE-APPROVED GOVERNMENT AFFAIRS BUDGET GUIDELINES. THE ASSOCIATION'S STAFF WILL CONTACT STAKEHOLDERS WITH COMMITTEE RECOMMENDATIONS AND SEEK FIRM COMMITMENTS FOR ANY SHORTFALL IN FUNDING, AND COMMUNICATE THE FUNDING PLAN BACK TO THE GOVERNMENT AFFAIRS COMMITTEE PRIOR TO ENGAGEMENT. THE PLAN WILL BE COMMUNICATED TO THE MBI BOARD AT THE NEXT SCHEDULED MEETING.
IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE C, PART IV
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0EXEC DIRECTOR
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0MANAGEMENT SERVICES
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0PART IV: TOM HARDIMAN, EXECUTIVE DIRECTOR OF THE INSTITUTE, IS ALSO A 50% OWNER IN THE MANAGEMENT COMPANY HARDIMAN-WILLIAMS, LLC. HARDIMAN-WILLIAMS, LLC IS CONTRACTED WITH THE INSTITUTE TO PROVIDE MANAGEMENT SERVICES.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990, PART 1, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: THE MODULAR BUILDING INSTITUTE IS THE ONLY INTERNATIONAL NON-PROFIT TRADE ASSOCIATION SERVING NON-RESIDENTIAL MODULAR CONSTRUCTION. THE ORGANIZATION REPRESENTS HUNDREDS OF COMPANIES IN COUNTRIES AROUND THE WORLD INVOLVED IN THE MANUFACTURING AND DISTRIBUTION OF COMMERCIAL FACTORY-BUILT STRUCTURES. AS A LEAD ORGANIZATION FOR EDUCATION IN THE INDUSTRY, THE ORGANIZATION ENCOURAGES THE PUBLIC TO RETHINK MODULAR. THE ORGANIZATION PROVIDES SERVICES TO AND PROMOTES THE BUSINESS OF MANUFACTURERS AND MARKETERS OF NON-RESIDENTIAL FACTORY-BUILT STRUCTURES THROUGH THE EDUCATION OF POLICY MAKERS REGARDING BUILDING CODES AND BY HOLDING CONVENTIONS AND MEETINGS TO EDUCATE AND IMPROVE THE INDUSTRY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE INSTITUTE SEEKS TO EXPAND THE OVERALL MARKET SHARE FOR MODULAR CONSTRUCTION BY REMOVING BARRIERS THAT LIMIT INDUSTRY GROWTH AS WELL AS THROUGH OUTREACH AND EDUCATION EFFORTS TO PROMOTE THE ADVANTAGES OF MODULAR CONSTRUCTION. MEMBERS OF BOTH THE RELOCATABLE BUILDINGS DIVISION AND THE PERMANENT MODULAR CONSTRUCTION DIVISION HAVE THE OPPORTUNITY TO PARTICIPATE IN VARIOUS BUSINESS DEVELOPMENT OFFERINGS AND TO HELP INFLUENCE THE REGULATORY CLIMATE. THE INSTITUTE HOSTS THE WORLD OF MODULAR ANNUAL CONVENTION AND TRADE SHOW THAT PROVIDES A PLACE FOR OVER 750 INDUSTRY PROFESSIONALS TO NETWORK WITH AND LEARN FROM INDUSTRY EXPERTS FROM AROUND THE WORLD, EXCHANGE IDEAS, AND DISPLAY NEW FACTORY-BUILT STRUCTURES. IN ADDITION, THE INSTITUTE'S SEALS PROGRAM IS THE COMMERCIAL MODULAR INDUSTRY'S ONLY LABELING PROGRAM DEDICATED TO PROMOTING HIGH STANDARDS OF HONESTY, INTEGRITY, PROFESSIONAL SERVICE, AND CONDUCT. THE SEALS PROVIDE MEMBERS WITH A VISIBLE SIGN OF THEIR COMMITMENT TO THE INSTITUTE'S CODE OF ETHICS AND CONDUCT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE INSTITUTE CONTRACTED WITH HARDIMAN-WILLIAMS, LLC FOR THE PROVISION OF MANAGEMENT SERVICES. HARDIMAN-WILLIAMS, LLC IS OWNED AND OPERATED BY TOM HARDIMAN, EXECUTIVE DIRECTOR, AND STEVE WILLIAMS, DIRECTOR OF OPERATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE INSTITUTE HAS THREE CLASSES OF MEMBERSHIP AS FOLLOWS: REGULAR - MANUFACTURERS AND DEALERS ASSOCIATE - SUPPLIERS OF BUILDINGS COMPONENTS, SERVICES, AND FINANCING INDIVIDUAL - STUDENTS, PROFESSORS, AND OTHER INDIVIDUALS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE INSTITUTE UTILIZES A NOMINATING COMMITTEE TO OVERSEE THE PROCESS OF PREPARING A SLATE OF BOARD MEMBER CANDIDATES FROM THE INSTITUTE'S QUALIFIED MEMBER COMPANIES. THESE CANDIDATES MUST MEET A VARIETY OF TIME, QUALIFICATION, AND PARTICIPATION REQUIREMENTS WITH THE INSTITUTE AND WITHIN THE INDUSTRY. THE COMMITTEE CONSIDERS TRAITS SUCH AS INDUSTRY EXPERIENCE, GEOGRAPHIC LOCATION, TIME AS AN INSTITUTE MEMBER, STANDING WITH THE INSTITUTE, AND PAST PARTICIPATION IN THE INSTITUTE'S ANNUAL MEETINGS, THE MBI FOUNDATION, AND ON ASSOCIATION COMMITTEES. THE BOARD MEMBERS ARE LIMITED TO TWO CONSECUTIVE FULL TERMS, WITH THE EXEPTION OF SPECIFIED CIRCUMSTANCES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5EACH MEMBER FIRM OR CORPORATION SHALL APPOINT AND CERTIFY TO THE ASSOCIATION A PERSON TO BE ITS REPRESENTATIVE IN THE ASSOCIATION AND WHO SHALL REPRESENT, VOTE, AND ACT FOR THE MEMBER IN ALL AFFAIRS OF THE ASSOCIATION. EACH MEMBER FIRM OR CORPORATION IS ENTITLED TO ONE VOTE ON SUCH OCCASIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE FORM 990 IS INITIALLY REVIEWED BY THE EXECUTIVE DIRECTOR UPON ITS COMPLETION. SUBSEQUENTLY, THE FORM 990 IS PROVIDED TO ALL MEMBERS OF THE BOARD FOR REVIEW AND APPROVAL. ONCE APPROVED BY THE GOVERNING BOARD, THE FORM 990 FILED AND MADE AVAILABLE FOR PUBLIC INSPECTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE EXECUTIVE DIRECTOR ACKNOWLEDGES AND REMINDS EACH BOARD MEMBER OF THE CONFLICT OF INTEREST POLICY PRIOR TO THE COMMENCEMENT OF EACH BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS CAN BE DISTRIBUTED TO THE PUBLIC UPON REQUEST. HOWEVER, REQUESTS ARE SUBJECT TO THE APPROVAL OF THE EXECUTIVE DIRECTOR AND THE ASSOCIATION'S CONSIDERATION OF THE INTENDED USE OF THE REQUESTED DOCUMENTS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 6
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 19
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