Ironworker Management Progressive Action Cooperative Trust

“Certain trustees serve as board members, officers or employees of the international association of bridge, structural, ornamental and reinforcement iron workers union afl-cio and have a business relationship with the filing organization since they also serve as trustees on the board of the filing organization.”

“The Board of Trustees shall be composed of not fewer than six (6) Trustees or Trustee positions, and shall have equal numbers of Union Trustees and Employer Trustees. Successor and additional Union Trustees shall be appointed by the Iron Workers General President. Successor and additional Employer Trustees shall be appointed by the incumbent Employer Trustees, provided however, that no more than two (2) Employer Trustees shall be employed by or contracting with any one Employer so as to encourage broader involvement by Employers. The Board of Trustees shall be co-chaired by a Union Trustee selected from among the Union Trustees then sitting and by an Employer Trustee selected from among the Employer Trustees then sitting. During the first meeting of each calendar year, there shall be a re-election of the co-chairmen unless such re-election is waived by the Union Trustees with respect to the Union Co-Chairman and by the Employer Trustees with respect to the Employer Co-Chairman.”

“The form 990 is reviewed by the executive director and general counsel prior to filing of the return.”

“General counsel reviews and monitors compliance with impact's conflict of interest policy. The conflict of interest polciy to person that serves as a director, officer or member of a committee. Any interested person with a financial interest or who thinks that he or she is in circumstances that might lead to a conflict of interest, must disclose the interest or circumstances to the board of directors (or a conflict of interest committee if applicable). Any member of the board of directors who also serves impact in another capacity for compensation is precluded from voting on matters concerning his or her compensation or benefits. Each director, officer, and member of a committee must read and sign a copy of the conflict of interest polciy and return it to the trust office.”

“The organization's governing documents, financial statements and policies are available upon request.”

“The financial statements have been prepared using the modified cash basis of accounting. The modified cash basis of accounting differs from accounting principles generally accepted in the United States of America ("U.S. GAAP") primarily because revenue is recognized when received rather than when earned and expenses are recorded when paid rather than when the obligation is incurred. However, fixed assets are capitalized and depreciated, investments are presented at fair value and both realized and unrealized gains and losses in the fair value of investments are recognized in the period in which they occur and assets and liabilities that arise from cash transactions are recognized. U.S. GAAP requires operating leases of lessees to be capitalized through a right-of-use asset and a corresponding operating lease liability. The presentation under modified cash basis of accounting has no such requirement.”

“Currency exchange loss ($493,495)”

“Description:general & admin services total fees:5046383”

“Description:consulting total fees:2911170”