National Federation of Independent

“Form 990 review process following an independent audit of the financial statements, a draft of nfib's form 990 is prepared. This form 990 goes through a three-tier internal management review process. Any questions arising from the initial review are addressed to ensure the return is complete and accurate. Any necessary changes/corrections are made on the form 990 and the return again goes through nfib's internal review process. Upon approval of the svp/cfo, the return is reviewed by the chair of the finance/audit committee of the board of directors. The final return is then filed with the internal revenue service.”

“Compliance with conflict of interest policy every board member, officer, and employee of nfib is required to submit an annual code of conduct & ethics certification to the cfo. All potential conflicts of interest, ethical concerns, and legal concerns are addressed by the cfo with a report going to the finance/audit committee of the board of directors. Any transactions disclosed are reviewed by the cfo to determine the type of relationship, dollar value involved, and to be certain that all transactions are at arms length. No board member shall vote on any matter in which there is a conflict of interest.”

“Process of determining compensation for officers: the executive committee of the board of directors is responsible for reviewing and recommending the compensation for the officers. Their compensation is determined annually by the board of directors. Deliberations of compensation determinations are recorded contemporaneously in the minutes of the meeting. The organization's philosophy is for executive compensation to be competitive with the market in order to attract, retain, and motivate qualified employees. Additionally, incentive pay is linked to the achievement of organizational goals and is competitive and consistent with market norms. The committee regularly engages the services of outside consulting firms to provide expert information regarding industry-wide compensation norms.”

“It is nfib's policy to make available for public inspection, upon request, either written or in person, its governing documents, conflict of interest policy, and financial statements.”

“National federation of independent business' mission is to promote and protect the rights of its members to own, operate and grow their businesses.”

“The purposes for which this corporation is organized are: 1. To promote the economic, financial and political welfare of its members; to elevate the prestige and standing of the independent small business owner in his/her community; to organize the independent or small business owner into an association to the end that his/her voice may be heard effectively in state and national affairs affecting small business. 2. To preserve, protect, promote and develop the american system of private enterprise by promoting and developing laws and regulations helpful and beneficial to, and for the preservation of, small business. 3. To conduct polls among its members on matters of importance concerning and affecting small business and its problems, and to collect, compile and disseminate information over the air and through the press relating thereto to its members and the general public. 4. To expose and resist corruption in government and to secure honesty, efficiency and economy in national, state, and local governments. 5. To carry on an educational campaign among its members and the general public and in this connection, to publish member communications and provide a website for the purpose of disseminating information and ideas to its members and to the public relating to problems vital and of interest to small business, with a view to lawfully influencing the passage of legislation beneficial to its members and the general public, and the defeat of legislation deemed to be inimical to small business and the general public, and from time to time to circulate its membership and to secure their subject matters of legislation affecting small business. 6. To foster the promotion and advancement of civic, commercial, industrial and political welfare of its members in their respective communities.”

“Change in pension & post retirement 17,879,794. Net equity gain from affiliate organization 627,211.”