Oklahoma City Metropolitan Association of Realtors

“Organized by members with elected Board of Directors”

“Members elect Board of Directors annually.”

“Some Board of Directors decisions are approved by members.”

“Minutes are prepared for all Board meetings.”

“Minutes are taken.”

“Draft copy of return is given to each Board Member for review prior to final processing and filing.”

“The conflict of interest policy is defined by the Association Policies document. The policy document is given out at each annual director orientation meeting. Each director signs a conflict of interest statement each January, citing their understanding of the policy and the required complicance. Any potential conflicts of interest are listed in a document form attached to the policy to be returned and discussed with the Board authorties. All of these documents are maintained by the Chief Operating Manager. When the potential exists for a new major vendor or service provider, they are asked to complete a disclosure of any potential conflicts of interest. The COM reviews periodic expenditures with regularity for potential conflicts. Any issues raised about conflicts of interest are reviewed and analyzed at the Board meetings, allowing discussion on both sides of the issue, in order to resolve the issue. After discussion takes place, the individual in question recuses himself for further deliberations and a final vote by the Board. Any issues in question from the Board are referred to independent corporate counsel to investigate the matter. If the conflict was deemed intentional, the Director may face discipline in the form of expulsion from the Board of Directors and/or other enforcement as deemed appropriate in the circumstances.”

“Annual review and approval of COM by Executive Board.”

“Other officers and key employees are annually reviewed and evaluated by the Executive Board.”

“Documents are available to the public via the organizations website.”

“Form 990, Part III, Line 4b -Second AchievementAssist commercial practitioner in professionalism & assisting educational resources.Form 990, Part III, Line 4d -All Other AchievementsVarious support activities for 2710 realtor members; educated City Council members about negative consequences of impact fees to our citizens & small business owners.Form 990, Part XII, Line 2cThe organization hired an outside accounting firm to complete financial information instead of preparing the documents in-house as was done historically. Schedule O - Additional InformationPart III, Line 4d and Part IX, Line 24b - Non-program expensesBank charges $32,082 BOD meeting exp 1,570Comittee & board expenses 38,394CEO relocation 1,012Equipment rental 13,079Equipment maintenance 73,859Landscape expense 8,463Mileage reimb - staff 2,188 Miscellaneous 2,312Payroll service expense 10,701 Schedule O - Additional Information (Cont'd)Part III, Line 4d and Part IX, Line 24b - Non-program expensesPostage 3,940Security 3,172Telephone 13,451 ________ Total $204,223 ======== Schedule O - Additional InformationPart IX, Line 24c - Program Part III 4b expensesEducation expense $ 33,059Events expense 59,617Food & refreshments expense 3,906RCA expenses 5,434 __________Total $ 102,016 ========== Schedule O - Additional InformationPart IX, Line 24d - All other expensesDues & subscriptions $ 1,378BOD exp & Public affairs 34,479Marketing 25,058Other expenses 1,719Professional standards 5,078 __________Total $ 67,712 ========== NET OPERATING LOSS SCHEDULELoss YE Original Loss Utilized Remaining12/31/1996 $84,324 $(58,471) $ 25,85312/31/1998 47,481 - 73,33412/31/1999 17,323 - 90,65712/31/2000 25,592 - 116,24912/31/2005 - (17,588) 98,66112/31/2006 - (16,190) 82,47112/31/2007 21,961 - 104,43212/31/2008 4,127 - 108,55912/31/2009 - (13,070) 95,48912/31/2010 3,725 - 99,21412/31/2011 - (576) 98,63812/31/2012 - (9,155) 89,483NOL CF to 2013 $ 89,483”