Specialty Equipment Market Association

“The membership of sema consists of entities engaged in the manufacture and/ or sale of specialty equipment, or vehicles consisting of specialty equipment, as well as persons rendering essential services to or for the performance and specialty parts industry. Individual representative of the member companies can be nominated to the board of directors. No individual member company has a right to receive distributions of income from the association, or assets of the organization. Should the organization dissolve, then any remaining assets would go to another 501(c)(6) corporation.”

“Except for supporting members and honorary members, all members are eligible to vote at annual and special meetings of the members and in the annual election of directors if their dues are current.”

“Active members vote to elect directors on the sema board of directors and the chair-elect. Removal of the chairman of the board or chair-elect requires a vote of two-thirds of the active members at a meeting called for the purpose of voting on the removal of that respective officer. A vote of the majority of active members present and voting in person or by proxy and entitled to vote at any meeting shall be necessary for the adoption of any matter voted upon by the members. The board of directors may offer any proposals to members for consideration and voting by mail, fax, email, personal delivery and written communication when it appears inadvisable or impractical to call a special meeting for such purpose. The question thus stated and submitted by the board shall be determined according to a majority of the votes received from the active members by mail within one hundred and twenty (120) days after the mailing thereof to the members, provided that in each case the votes of at least one-third of the active members shall be received. Any and all action taken in pursuance of any such mail vote shall be binding upon the association.”

“The form 990 is prepared by an accounting firm. Management reviews the return and the cfo signs the form 990. The sema board of directors has authorized the audit review committee in conjunction with management to review and approve the form 990.”

“The directors, officers and key employees are required to confirm receipt and review of sema's conflict of interest policy upon commencement and any policy updates. The directors, officers and key employees are requested to report any new potential conflicts at the quarterly board of directors meetings. In the event a member or key staff believes that there is a potential conflict of interest, or the appearance of a conflict of interest, he/she shall bring the relevant facts to the attention of the appropriate board of directors. Upon notice of such circumstances, the board of directors shall determine whether a conflict of interest is in evidence and if there is such a conflict of interest, how it is to be addressed. It is understood that certain instances of conflict of interest may be resolved by disclosure and others require recusal. In the event it is later determined that a board member had a conflict of interest, such conflict shall not affect the validity of any vote of the board.”

“The compensation for the president/ceo is determined by the specialty equipment market association & performance racing, inc. Compensation committee. The review is based on data obtained through outside research response to requests. The firm that was hired to perform this service was quatt & associates. The positions included in the comparison were the president & ceo, and four of the vice presidents. The compensation review committee, a sema standing committee, meets periodically as needed to undertake compensation review. They use outside benchmarking expertise in formulating compensation changes. The committee reviews the benchmarking report to make changes accordingly.”

“All documents are made available within thirty (30) days of a written request.”

“Annual market study each year sema's research team spends significant time, effort and financial resources to produce an annual market report that helps members understand the current state of the automotive specialty equipment market. The report, which is free to all member companies, provides an overview of the industry's size, sales within defined market niches and product segments, industry and economic trends, vehicle sales trends and consumer purchase patterns. Sema market research also provides businesses with actionable insights through regular and adhoc reports on documenting changes affecting the industry, consumer purchase and shopping behavior, and specific market section needs. Additionally, the majority of sema functions feature seminars and presentations designed to help our members sell more product. Since almost every significant member of the automotive aftermarket converse each fall in las vegas for the sema show, the education day portion of the show week is designed to help educate and instruct all segments of the aftermarket on such topics as: industry technology and trends, effective business strategies, advertising techniques, profit opportunities in select market segments, management techniques, and all product installation seminars are available monday through friday during show week. Sema's wide range of volunteer opportunities cover vital topics that impact the wellbeing of the industry today and the direction and health for the future. Every sema member is eligible for council and network membership. If you were to survey the nation's top executives and ask them what is the single most valuable commodity in the business world today, nine out of the ten would answer "timely, accurate and relevant information". Sema provides its members with educational opportunities throughout the year with seminars, webinars and online learning tools. Sema currently dedicates major association publications, annual industry functions, and active committees to achieve this important goal. Sema news to stay on top of is all here on the pages of our monthly association newsletter. It concentrates on best practices to keep ahead and it's free to sema members. Industry and legislative alerts are sent out whenever needed. These valuable alerts keep members apprised of critical issues, as they are happening, to give decision makers the information they need to create a quick and effective response. Sema also strives to assist member companies in publishing their own newsworthy items each month. Members submit news regarding personnel changes, new product releases, change of address, innovative new programs and services, and just about anything our members deem important. The information then appears in the appropriate section of the above publications. During show time, members are encouraged to forward press releases to the media center, dramatically improving the chances for press coverage. For over 50 years, the specialty equipment market association & performance racing, inc. Has served as the sole guiding force behind the extraordinary growth and success of the specialty automotive aftermarket industry - a unique industry dedicated to the enhanced performance, appearance and handling of the 20th century's greatest innovation of the automobile. During those years, sema has matured from an upstart coalition of innovative entrepreneurs to an established business force whose impact is felt by every segment of the marketplace, as well as the legislative bodies which govern it. Whether it has been through providing our members with an unrivaled forum to buy, sell and market products and services which have driven this industry (the sema show), legal protection to ensure that members' doors remain open to do what they do best (business), or our valuable menu of benefits which help members improve their day-to-day business and marketing activities, sema has been there since the beginning as the only association dedicated excl”

“Consultancy services 2,504,137. Project expenses 1,234,472. Event production costs 1,925,361. Credit card fees 996,127. Registration fees 92,169. Disbursements to pac 252,150.”

“Unrelated business income from partnerships 21,199.”