The Financial Planning Association

“The executive committee is composed of the past president, the president elect, and the ceo. The ceo shall be an ex officio, non-voting member of the executive committee. The committee has the authority to act upon issues in between board meetings as well as issues specifically delegated to the executive committee by the board.”

“The organization has two classes of members: individual members and institutional members. Individual members: any individual demonstrating a professional interest in financial planning and willing to abide by the bylaws is eligible for membership in the association. Members shall be entitled to special rights, privileges, and benefits as determined by the board of directors or its designee. Member of fpa include financial planning practitioners, students, academicians, support staff, retired practitioners, and other allied professionals who support the profession. Institutional members: any institution with an interest in financial planning and which is willing to abide by the bylaws for membership in the association.”

“Plans of merger, consolidation, or dissolution which are voted on and adopted by the board of directors shall require ratification through an affirmative vote of at least a majority of the individual members of the fpa voting membership.”

“The form 990 is prepared by an independent cpa firm and reviewed in detail by the cfo and the accounting manager. It is then shared with the board for their review prior to being filed with the irs.”

“On an annual basis, the directors and officers of the organization are required to disclose any conflicts of interest (actual, apparent, or potential) and agree to comply with the organization's conflict of interest policy. Upon disclosure of a potential conflict of interest and all material facts to the independent members of the board, and after any discussion with the interested persons, the independent board members shall discuss and decide if a conflict of interest exists. After exercising due diligence, the independent board members shall determine whether or not a conflict of interest is present. As part of that determination, the independent board members will decide whether the transaction or arrangement is in the organization's best interest, for the organization's benefit, and whether it is fair and reasonable to the organization.”

“Ceo compensation is determined through various salary surveys and other third-party non-profit compensation resources and guidelines. The compensation package is reviewed annually by the ceo compensation committee, comprised of independent voting members of the board of directors. The approval process is documented by the executive committee. The compensation for the cfo is approved by the ceo. Comparability data is used, and the process is documented in the hr file.”

“The governing documents, conflict of interest policy, and financial statements are all available upon request. The governing documents are also available on the organization's website.”