Texas Telephone Association

“The association has three classes of membership: active, associate and honorary. The association's active member companies are the incumbent local exchange carriers certified by the public utility commission of texas to provide telephone service in their respective areas in texas under the auspices of a certificate of convenience and necessity. The associate members include companies other than local exchange carriers who provide related telecommunication services and products to the local exchange industry. The association's associate members work closely with the association's active member companies to provide and maintain economical, efficient, and reliable local telephone service. All members ascribe to a code of ethics based on the premise that the primary commodity provided is service to their customers.”

“The association's board of directors are elected by the active members of the association. Each active member is entitled to one vote. Associate and honorary members are not entitled to vote.”

“The bylaws of the texas telephone association (tta) may be amended or repealed only by a vote of two-thirds of the active members present at any regular meeting of tta, or at a special meeting provided notice of such proposed amendments have been sent to the membership by the secretary of tta at least two weeks prior to such meeting. Proposed changes must be furnished to the members at least two weeks prior to the annual or special meeting at which the vote was taken.”

“Prior to filing a copy of the form 990 is provided electronically to all members of the board of directors.”

“The board of directors use a compensation survey when determining the compensation of the executive director of the association. They also determine the executive directors's salary based on prior performance and their experience level. The association does not have any other employees that fit the irs definition of a key employee.”

“Texas telephone association (tta) makes available to its members and the public it's governing documents and financial statements. These documents are available for viewing at the organization's offices in austin, tx. The governing documents and policies are also made available to the members of tta in the annual member handbook.”

“The board as a whole is responsible for overseeing the financial statement review and selecting the cpa who will perform the review.”

“A prior period adjustment has been reported on form 990, part xi, line 8. The adjustment is to remove the political action committee funds that were reported on the prior year return. The funds are seperate segregated funds held in a separate banking account and are separate from texas telephone association and should not be reported on the form 990 for tta.”