New Mexico Horse Breeders

“Members of the association elect the members of the board of trustees and must approve any changes to the by-laws. Members do not have any rights to the assets of the association.”

“Association members elect the board of trustees members at the annual membership meeting in january. Board terms are staggered so that only a portion of the board is up for election at one time. Each member who is current on their dues may vote for the board members. Voting is in person or by mail-in ballot. After the board members are elected, the new board meets to elect the officers. This is also done during the annual meeting.”

“Members elect the board of trustees and approve any changes to by-laws, dues, fees, etc. Decisions to be voted on must be published to the membership prior to the meeting. Members in good standing may vote on the decision at the meeting or by mail-in ballot.”

“No documentation is made for governing committee meetings other than the general board of trustees. No committee can act for the board. The committees discuss issues and make recommendations to the board on actions to be taken. The issues, recommendations and related discussions are documented as a part of the board minutes.”

“The form 990 is based on the results of the annual financial statements. The annual financial statements are reviewed with the board at the june board meeting. The board has the opportunity to question or request revisions to the financial statements at this meeting. The president of the board reviews the form 990 prior to filing it. Board members are given a copy of the form 990 for review prior to filing.”

“Employees are required to identify whether they or their family members are members of the association and whether they or their family members are eligible to receive owner/breeder awards and, if so, under what name(s). Board members are also required to disclose any relationship they may have with an entity or person that could lead to a conflict of interest. The board reviews the conflict of interest and other policies each year when the new board members are elected. This review stresses that the board should not take any action to benefit themselves or a relative. If a board member suggests doing business with a specific vendor, they are questioned about the reason for their proposal and specifically asked if there is a relationship that will cause them to benefit from the transaction. Board members must sign the conflict of interest policy to indicate they understand and will abide by the policy.”

“The board of trustees sets the compensation for the executive director and other employees. Comparable data is used to determine salaries. When salary changes are considered, an independent accountant provides the board with the cost of providing raises to all employees at various percentage levels as well as information on the general cost of living increase for the year. The board discusses the alternatives and votes to determine the percentage increase, if any, to be effective in the coming year. The process is the same for all employees.”

“The governing documents and policies are available to the public on written request. The documents are available for review at the association's office. Documents can also be obtained through the new mexico racing commission.”