Timber Products Manufacturers Trust

“The day-to-day operations of the trust are supervised by vp benefits administration who reports to the tpm association president and provides regular communication to the board of trustees. Additionally, the trust has retained the services of outside contract service providers to provide claims processing, case management, and other administrative services.”

“Any changes in the plan document authorized by the board of trustees of this trust must be approved by the sponsor, timber products manufacturers inc.”

“The federal form 990 and schedules were prepared under the guidance of the trust's vp benefits administration by the independent accounting firm cliftonlarsonallen llp. Draft copies of the federal form 990 and schedules were first provided to the vp benefits administration, who reviewed the form 990 and schedules for accuracy and completeness. Any questions, concerns or issues raised by the vp benefits administration were addressed and any necessary revisions were made to the federal form 990 and schedules. The revised federal form 990 and schedules were then provided to the board of trustees for its review. Any additional questions, concerns or issues raised by the board of trustees were addressed and any necessary revisions were made to the federal form 990 and schedules.”

“Trustees, service providers, third-party administrators, or any other person having responsibility for the management or administration of the trust's finances, investments, or other proprietary information concerning the trust are considered interested persons. An interested person is under continuing obligation to disclose any potential conflict of interest to the board of trustees as soon as it is known or reasonably should be known. The interested person is given the opportunity to disclose all material facts to the trustees when considering the proposed transaction or arrangement. After disclosure of the financial, professional, or personal interest and all material facts, and after any discussion with the interested person, he/she leaves the trustees meeting while the determination of a conflict of interest is considered. If the disinterested trustees determine a conflict of interest exists, the chairman of the board, if appropriate, appoints a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due dilligence, the trustees determine alternatives to the proposed transaction or arrangement with a person that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably attainable under circumstances that would not give rise to a conflict of interest, the board or committee determines by majority vote of disinterested trustees whether the transaction agreement or arrangement is in the best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination the trustees make a decision as to whether to enter into the transaction agreement or arrangement. The minutes of the meeting reflect the conflict disclosure was made to the board, the vote taken and, where applicable, the abstention from voting and participation by the interested party. Whenever possible, the minutes should frame the decision of the board in such a way to provide guidance for consideration for future conflict of interest situations. To ensure the trust operates in a manner consistent with its tax-exempt purpose and does not engage in activities that could jeopardize its tax-exempt status, the board of trustees conducts periodic reviews. The periodic reviews include, at a minimum, the following subjects: whether contractual arrangements with service providers and services provided are reasonable, based on competent market survey information, and the result of arm's length negotiations. Whether contractual arrangements with service providers and arrangements with other organizations conform to written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further tax-exempt purposes, and do not result in inurement, impermissible private benefit, or in an excess benefit transaction. Whether any transaction conducted by the trust during the review period involves or could possibly give rise to a conflict of interest.”

“The trust has no compensated management officials, officers, or key employees. If the organization had such compensated individuals, policies and procedures would be developed to determine compensation.”

“The trust's governing documents, conflict of interest policy, financial statements and federal form 990 and schedules are available to the general public upon written request sent to the sponsor of the trust, timber products manufacturers inc, 951 east third avenue, spokane, wa 99202.”

“The process and methods used to select the independent auditor have not changed from the process and methods used in prior years.”