Albuquerque New Car & Truck Dealers Association

“The organization has two classes of membership. Active membership in the association is open to any individual, partnership, firm or corporation actively engaged in and devoting a substantial portion of time to the business of new motor vehicle retailing, who is operating a permanently established place of business anywhere within the boundaries of the state of new mexico under an authorized franchise currently in force with the manufacturer or distributor. Associated membership in the association is open to any individual, partnership, firm or corporation engaged in a business allied in any way with that of dealing in new motor vehicle retailing within the boundaries of the state of new mexico. Only active members in good standing are eligible for membership on the board of directors or to hold office in the association.”

“Each active member in good standing shall be entitled to cast one vote in any and all elections of directors from the county in which said member's dealership is located.”

“Upon completion of the form 990 by the independent accounting firm, the cfo reviews the 990 and then presents it to the board of directors for the board's review prior to filing.”

“The ceo's compensation is determined by independent members of the executive committee. In that determination, industry comparatives are reviewed and considered. Any compensation increase requires approval by the executive committee. This process is undertaken as increases occur. This process was last completed in 2016. The organization maintains contemporaneous substantiation and deliberation of the decision. The cfo compensation requires approval by the executive committee. The ceo performs the review of comparatives, which includes speaking with other association executives in other states and new mexico. The ceo then makes a recommendation that is presented for approval to the executive committee. The organization maintains contemporaneous substantiation and deliveration of the decision.”

“Upon any public request, cfo is directed to provide governing documents and financial statements. The organization is in the process of drafting a conflict of interest policy and it will be made available to the public in the same manner as the organization's governing documents and financial statements.”

“The w-2's for officer compensation are issued by new mexico automotive dealers association (nmada), an unrelated entity. The w-2 includes amounts paid for services provided to the organization under a shared agreement. These amounts are reflected in part vii - the portion attributable to the filing organization is being reported in line 1a, column d and column f.”

“The board acts as a whole to select the auditors and oversee the audit process.; this process has not changed.”