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        <ExplanationTxt>AMERICAN FACTORING ASSOCIATION EFFORTS INCLUDE LOBBYING AND MONITORING REGULATORY CHANGES THAT AFFECT THE FACTORING COMMUNITY, INCLUDING ENGAGING PROFESSIONAL LOBBYISTS AND MEETING WITH APPROPRIATE LAWMAKERS.</ExplanationTxt>
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      <SupplementalInformationDetail>
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        <ExplanationTxt>THE ORGANIZATION HAS THREE CLASSES OF MEMBERS; ACTIVE, ASSOCIATE AND ALLIED MEMBERS. ONLY ACTIVE MEMBERS ARE ENTITLED TO VOTE.</ExplanationTxt>
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        <ExplanationTxt>A NOMINATING COMMITTEE IS APPOINTED BY THE PRESIDENT WITH APPROVAL OF THE BOARD. THE NOMINATING COMMITTEE IS RESPONSIBLE FOR NOMINATING QUALIFIED INDIVIDUALS FOR ELECTION TO THE BOARD. THE BOARD APPROVES OR DISAPPROVES THE NOMINEES.</ExplanationTxt>
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        <ExplanationTxt>A COPY OF THE TAX RETURN IS PROVIDED TO THE BOARD BEFORE IT IS FILED. EXECUTIVE DIRECTOR REVIEWS AND APPROVES FORM 990 ON BEHALF OF THE BOARD.</ExplanationTxt>
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