Washington State Auto Dealers Insurance

“The trust has contracted with a third-party administrator (vimly benefit solutions, inc.) to provide bookkeeping and administrative services.”

“An individual who satisfies the qualification of a trustee may be nominated as a candidate for trustee by a majority of the trustees; or by written petition submitted to the board of trustees signed by the lesser of ten participating employers or at least 10% of all participating employers. A trustee in the final year of office and who satisfies the qualification of a trustee may be nominated for a successive term. Individuals who are nominated as candidates for trustee are elected by vote of the participating employers, who each have only one vote. If no candidate receives a majority of the votes cast by participating employers, a runoff election between the two candidates who received the most votes is held until a single candidate receives a majority of votes cast by participating employers. Once elected, each trustee consents to and accepts the election as a trustee in writing, which includes electronic communication. The election for trustees is conducted by mail ballot at the expense of the trust.”

“The form 990 was prepared under the guidance of the board of trustees by the independent accounting firm anastasi, moore & martin, pllc. Draft copies of the trust's financial statements and form 990 were first provided to the trust's consultants and advisors, who reviewed the form 990 for accuracy and completeness. Any questions, concerns or issues raised by the consultants and advisors were addressed and any necessary revisions were made to the form 990. The revised form 990 was then provided to the board of trustees for its review and approval. Any additional questions, concerns or issues raised by the board of trustees were addressed and any necessary revisions were made to the form 990. The final version of the form 990 was reviewed and approved for filing by the board of trustees.”

“In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial or affiliated interest and be given the opportunity to disclose all material facts to the board of trustees considering the proposed transaction or arrangement. The interested person will make such disclosure promptly upon learning of the proposed transaction. Trustees will generally disclose non-financial interests in their annual statement, and specifically as individual interests arise. Non-financial interests are expected and will not be reviewed unless a trustee requests the interest be reviewed. If the board of trustees has reasonable cause to believe a member has failed to disclose an actual or possible conflict of interest, it will inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If, after hearing the member's response and after making further investigation as warranted by the circumstances, the trustees determines the member has failed to disclose an actual or possible conflict of interest, it will take appropriate disciplinary and corrective action. Each trustee and member of a committee with governing board-delegated powers will annually sign a statement that affirms such person: has received a copy of the conflicts of interest policy, has read and understands the policy, agrees to comply with the policy, discloses the person's financial interests and personal relationships that could give rise to conflicts of interest, and understands that, in order for the trust to maintain its federal tax exemption, it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.”

“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, financial statements, and form 990 are available to the general public upon written request sent to vimly benefit solutions, inc. At: p.o. Box 6, mukilteo, wa 98275.”

“The trust does not compensate any of the members of the board of trustees. The board is composed of at least one and not more than eight individuals. In their roles as trustees, all are fiduciaries and understand their obligations under the trust agreement and the trust's policies and procedures. The trustees serve on a voluntary basis, and receive no known compensation adjustment from their employers, or any other party, for their services on the board.”

“Consultant fees 28,764. Broker commissions 145,623.”

“The process has not changed since filing the prior form 990.”