Afa Title Holding Company

“The executive committee is comprised of the board officers and two additional appointees of the board chairman. The executive committee has the authority to act on behalf of the full board when the full board is not in session.”

“Afa title holding corporation shall have one member, the air force association, a code section 501(c)(3) tax exempt organization (the "member").”

“The member shall have the exclusive right to appoint the board of directors.”

“Except as otherwise provided by law, the articles of incorporation or the organization's bylaws, all corporate powers of the corporation not reserved to the member shall be exercised by or under the authority of the board of directors and the activities and affairs of the corporation shall be managed by and under the direction and subject to the oversight of, the board.”

“After preparation by afa thc's cpa firm, afa staff along with the finance committee and audit committee chair perform a thorough review. A copy of the form 990 is then provided to all board members prior to filing.”

“Conflict of interest guidelines: handling a conflict of interest that arises at a meeting - a director should be sensitive to any interest he or she may have in a decision to be made by the board of directors and, insofar as possible, recognize that such interest exists prior to the discussion or presentation of such a matter before the board. When a director has an interest in a transaction being considered by the board, he or she should disclose the conflict before the board takes action on the matter. The director shall refrain from voting on any such transaction, participating in deliberations concerning it, or using personal influence in any way, the director's presence may not be counted in determining the quorum for any air force association business transaction in which he or she has a possible interest. If the director recognizes that the conflict is ongoing and that the information discussed at the board meeting will bear on that conflict, the director should not participate in that portion of the discussion and leave the room. Board members sign the conflict of interest policy each year. This policy is monitored by the members of the governing board continuously through the year.”

“President only - the president's compensation is set by the presidents evaluation & compensation committee and is reviewed periodically. The last review occurred in 2020. In august of 2018 the president's compensation was reviewed by an outside consulting firm. The firm compared the compensation of the president to other similar associations. A lawyer also wrote a letter about the position's compensation. Additionally there is a signed employment contract. The president's compensation is paid by the air force association.”

“Afa title holding corporation makes its governing documents, conflict of interest policy and its financial statements available for public inspection upon request.”

“Intercompany allocation -261,488.”