2023-02-07T07:49:11-06:00 2022-03-31 366055558 GRANT THORNTON LLP 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990 2021-04-01 237259445 AMERICAN MANAGEMENT ASSOCIATION INTERNATIONAL AMER 2125868100 1601 BROADWAY NEW YORK NY 100197420 NISSA HARVEY VP FINANCE TREASURER 2125868100 2023-02-06 1 NISSA HARVEY XXX-XX-XXXX SCOTT THOMPSETT P00741490 2125990100 3 AAL1 IAL1 2021 2023-03-07 01:45:13Z MANOS AVRAMIDIS 1601 BROADWAY NEW YORK NY 100197420 37748877 0 X WWW.AMANET.ORG X 1923 NY THE ASSOCIATION IS A MEMBERSHIP-BASED MANAGEMENT EDUCATION ORGANIZATION. (SEE SCHEDULE O) 10 9 141 9 8751 0 0 5325000 24326234 27124307 1321178 1583391 4971271 3376578 30618683 37409276 4500 4500 0 0 12620055 14460588 0 0 0 22159464 23658053 34784019 38123141 -4165336 -713865 79914827 77149210 31434282 29471628 48480545 47677582 X AMERICAN MANAGEMENT ASSOCIATION INTERNATIONAL (THE ASSOCIATION) IS AN INTERNATIONAL, NONPROFIT, MEMBERSHIP-BASED ASSOCIATION THAT PROVIDES A BROAD RANGE OF MANAGEMENT DEVELOPMENT AND EDUCATIONAL SERVICES TO INDIVIDUALS AND ORGANIZATIONS. FOR MORE INFORMATION, SEE SCHEDULE O. 0 0 32117522 4500 26319956 EDUCATIONAL ACTIVITIES 964391 0 804351 MEMBERSHIP ACTIVITIES 33081913 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 253 0 1 141 1 1 1 1 BE 0 0 0 0 0 0 0 0 0 0 X 10 9 0 1 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 AZ CA IL MA NY OR X NISSA HARVEY 5188911500 1601 BROADWAY NEW YORK NY 100197420 MANOS AVRAMIDIS PRESIDENT/CEO/TRUSTEE 50.00 10.00 X X 911628 0 56774 JED BECKER TRUSTEE 4.00 0.00 X 0 0 0 MICHAEL CORCIONE TRUSTEE 2.00 0.00 X 0 0 0 JAMES CORGEL TRUSTEE 2.00 0.00 X 0 0 0 CHARLES R CRAIG CHAIRMAN/TRUSTEE 4.00 0.00 X X 0 0 0 JONATHAN DUNNE TRUSTEE 4.00 0.00 X 0 0 0 BRADLEY MCCORD TRUSTEE 4.00 0.00 X 0 0 0 CARLYENE PRINCE-ERIKSON TRUSTEE 2.00 0.00 X 0 0 0 GHILLAINE A REID TRUSTEE 2.00 0.00 X 0 0 0 BRADLEY WATT TRUSTEE 2.00 0.00 X 0 0 0 GREG ADAMS SVP/CHIEF FINANCIAL OFFICER 50.00 10.00 X 439086 0 46510 ARTHUR LEVY THRU 12312021 PART-TIME SVP/GENERAL COUNSEL/SEC. 50.00 10.00 X 232560 0 2008 NISSA HARVEY VP, FINANCE/TREASURER 50.00 10.00 X 166392 0 5878 MARNI FRIEDLANDER SVP/GEN. COU./SEC. (AS OF 1/31/2022) 50.00 10.00 X 0 0 0 RICHARD BARTON SVP/CHIEF INFORMATION OFFICER 50.00 10.00 X 403881 0 47827 BARBARA ZUNG SVP/CHIEF HR OFFICER 50.00 10.00 X 298207 0 41653 KERRY C BLONSKI SVP, CORPORATE LEARNING SOLUTIONS-US 50.00 5.00 X 302555 0 38467 WANDA GUNDERMAN VP, FIN. PLANNING & ANALYSIS, USME 50.00 0.00 X 217115 0 44446 JEFFREY BECKER DIRECTOR OF SALES 50.00 0.00 X 232790 0 16575 CHERYL STERN REGIONAL DIRECTOR 50.00 0.00 X 214672 0 14683 PIERA PALAZZOLO VP, DIGITAL MARKETING 50.00 0.00 X 217108 0 4719 3635994 0 319540 31 0 1 0 GOOGLE INC 1600 AMPHITHEATRE PARKWAY MOUNTAIN VIEW CA 94043 MARKETING SERVICES 1097379 AMSIVE DIGITAL INC 915 BROADWAY SUITE 501 NEW YORK NY 10010 MARKETING SERVICES 794412 MARKETSOURCE 7301 PARKWAY DRIVE HANOVER MD 21076 TELESALES SERVICES 691244 COIN HARLAN CONSULTING LLC PO BOX 9284 JACKSON WY 83002 DATA CONVERSION SERVICES 416074 MICROSOFT ONLINE INC 6880 SIERRA CENTER PARKWAY RENO NV 89511 DIGITAL MEDIA PPC SERVICES 289751 15 5325000 5325000 EDUCATIONAL ACTIVITY 611600 26319956 26319956 MEMBERSHIP ACTIVITIES 611600 804351 804351 27124307 1583391 1583391 619325 619325 2520483 339601 2180882 2180882 8751 2172131 SHARED SERVICES 611600 392566 392566 CORP PROVISION ADJUSTMENTS 900099 58127 58127 LIST RENTALS 900099 5575 5575 120103 120103 576371 37409276 27516873 8751 4558652 4500 4500 2668818 451140 2217678 9656755 8631887 1024868 118260 106218 12042 1292392 1081184 211208 724363 624183 100180 162217 162217 165878 165878 67359 67359 2116677 1861061 255616 4979147 4979147 881406 635435 245971 1093418 1093418 6500 6500 7179730 6780108 399622 143155 122225 20930 4833034 4828205 4829 11480 6438 5042 1008126 970560 37566 364509 355699 8810 BAD DEBT EXPENSE 212148 212148 NEW PROGRAM DEVELOPMENT 168900 168900 AWARDS & MEDALS 79497 64382 15115 EMPLOYEE RECRUITING 70402 28691 41711 114470 69884 44586 38123141 33081913 5041228 0 2374346 2345094 2587286 2104101 1453756 1453756 18598 16422 1170432 1281367 41683542 38604413 4003513 3079129 8034563 4923944 60272333 61945397 79914827 77149210 4666894 5831983 9405534 9996633 153650 72590 17208204 13570422 31434282 29471628 X 48480545 47677582 48480545 47677582 79914827 77149210 X -713865 -249717 160619 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19881059 17539744 2341315 21802483 21064669 737814 3079129 RECEIVABLES FROM RELATED ORG: IMACAN MANAGEMENT CENTRE 33798676 RECEIVABLES FROM RELATED ORG: MGMT CENTER DE MEXICO AC 8451507 RECEIVABLES FROM RELATED ORG: AMA EUROPE SA 1879035 PAID IN CAPITAL-AMA EUROPE SA 17816179 61945397 DEFERRED RENT 12358926 OTHER LIABILITIES 1211496 13570422 X PART X, LINE 2: UNCERTAINTIES IN INCOME TAXES THE ASSOCIATION FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINITY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE ASSOCIATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER CODE SECTION 501(C)(3), THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE ASSOCIATION HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED BUSINESS INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND, TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE ASSOCIATION HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN ITS CONSOLIDATED FINANCIAL STATEMENTS. IN ADDITION, THE ASSOCIATION HAS NOT RECORDED A PROVISION FOR INCOME TAXES FOR THE YEARS ENDED MARCH 31, 2022 AND 2021, AS IT HAS NO MATERIAL TAX LIABILITY FROM UNRELATED BUSINESS INCOME ACTIVITIES. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 RACIALLY NONDISCRIMINATORY POLICY AMA PUBLICIZES ITS NONDISCRIMINATORY POLICY THROUGH ITS PROMOTIONAL MATERIALS AND IN NATIONAL JOB BOARDS. AMERICAN MANAGEMENT ASSOCIATION INTERNATIONAL DOES NOT DISCRIMINATE IN EMPLOYMENT, ADMISSION TO MEMBERSHIP, OR ADMISSION OF SPEAKERS OR REGISTRANTS TO ITS PROGRAMS ON THE BASIS OF RACE, COLOR, RELIGION, GENDER, AGE, SEXUAL ORIENTATION, DISABILITY, NATIONAL OR ETHNIC ORIGIN, VETERAN STATUS, OR ANY OTHER BASIS PROHIBITED BY STATE OR LOCAL LAW. CENTRAL AMERICA AND THE CARIBBEAN 0 1 PROGRAM SERVICES EDUCATIONAL ACTIVITIES 17972 EAST ASIA AND THE PACIFIC 0 5 PROGRAM SERVICES EDUCATIONAL ACTIVITIES 17500 EUROPE (INCLUDING ICELAND & GREENLAND) 1 13 PROGRAM SERVICES EDUCATIONAL ACTIVITIES 41482 SOUTH AMERICA 0 2 PROGRAM SERVICES EDUCATIONAL ACTIVITIES 3020 SOUTH ASIA 0 3 PROGRAM SERVICES EDUCATIONAL ACTIVITIES 2400 SUB-SAHARAN AFRICA 0 1 PROGRAM SERVICES EDUCATIONAL ACTIVITIES 15506 1 25 0 0 1 25 97880 0 97880 1 0 1 0 0 1 PART III ACCOUNTING METHOD: SCHEDULE F, PART I, LINE 3, COLUMN F EXPENDITURES PER REGION THE ORGANIZATION REPORTS EXPENDITURES PER REGION ON AN ACCRUAL BASIS WHICH IS CONSISTENT WITH THE ACCOUNTING METHOD USED FOR THE ORGANIZATION'S FINANCIAL STATEMENTS. SCHEDULE F, PART IV, LINE 6 BOYCOTTING COUNTRIES DURING THE TAX YEAR AMERICAN MANAGEMENT ASSOCIATION EUROPE SA, A RELATED ORGANIZATION TAXABLE AS A CORPORATION, ESTABLISHED IN BELGIUM, CONDUCTED A NUMBER OF EDUCATIONAL ACTIVITIES IN KUWAIT, LEBANON, AND SAUDI ARABIA. X X X X X 0 0 0 1 0 0 0 1 0 MANOS AVRAMIDIS PRESIDENT/CEO/TRUSTEE 602868 0 307500 0 1260 0 6741 0 50033 0 968402 0 0 0 GREG ADAMS SVP/CHIEF FINANCIAL OFFICER 286106 0 151000 0 1980 0 4044 0 42466 0 485596 0 0 0 RICHARD BARTON SVP/CHIEF INFORMATION OFFICER 263209 0 139500 0 1172 0 5909 0 41918 0 451708 0 0 0 KERRY C BLONSKI SVP, CORPORATE LEARNING SOLUTIONS-US 209428 0 92250 0 877 0 0 0 38467 0 341022 0 0 0 BARBARA ZUNG SVP/CHIEF HR OFFICER 194428 0 103500 0 279 0 3312 0 38341 0 339860 0 0 0 WANDA GUNDERMAN VP, FIN. PLANNING & ANALYSIS, USME 180717 0 36000 0 398 0 3450 0 40996 0 261561 0 0 0 JEFFREY BECKER DIRECTOR OF SALES 121448 0 111135 0 207 0 3542 0 13033 0 249365 0 0 0 ARTHUR LEVY THRU 12312021 PART-TIME SVP/GENERAL COUNSEL/SEC. 172200 0 58500 0 1860 0 1459 0 549 0 234568 0 0 0 CHERYL STERN REGIONAL DIRECTOR 89440 0 124577 0 655 0 1364 0 13319 0 229355 0 0 0 PIERA PALAZZOLO VP, DIGITAL MARKETING 204880 0 11000 0 1228 0 2752 0 1967 0 221827 0 0 0 NISSA HARVEY VP, FINANCE/TREASURER 137815 0 28418 0 159 0 2503 0 3375 0 172270 0 0 0 PART I, LINE 5 THE ORGANIZATION PAYS COMMISSIONS TO ITS REGIONAL SALES DIRECTOR AND DIRECTOR OF SALES BASED UPON THEIR ACHIEVEMENT OF CERTAIN SALES QUOTAS AND SUCH AMOUNTS ARE INCLUDED AS TAXABLE COMPENSATION IN COLUMN (B)(II). AMOUNTS EARNED BUT NOT YET PAID ARE ACCRUED ACCORDINGLY. PART I, LINE 7 THE ORGANIZATION HAS AN INCENTIVE COMPENSATION PROGRAM FOR ITS EXECUTIVE STAFF. UPON MEETING ESTABLISHED TARGETS, PARTICIPANTS ARE ELIGIBLE FOR PAYMENT, SUBJECT TO THE BOARD'S DISCRETION. GENERAL STATEMENT ABOUT THE COVID-19 PANDEMIC'S IMPACT: THE COVID-19 PANDEMIC, WHOSE EFFECTS FIRST BECAME KNOWN IN JANUARY 2020, CAUSED ECONOMIC INTERRUPTIONS THROUGH MANDATED AND VOLUNTARY CLOSINGS OF BUSINESSES AND ORGANIZATIONS THROUGHOUT THE WORLD. THE EXTENT OF THE IMPACT OF COVID-19 ON THE ASSOCIATION'S OPERATIONAL AND FINANCIAL PERFORMANCE WILL DEPEND ON CERTAIN ONGOING DEVELOPMENTS, INCLUDING THE DURATION AND SPREAD OF THE OUTBREAK AND ITS IMPACT ON THE ASSOCIATION'S EDUCATIONAL BUSINESS, INCLUDING SEMINARS, CONFERENCES, EMPLOYEES AND VENDORS, ALL OF WHICH AT PRESENT, CANNOT BE DETERMINED. ACCORDINGLY, THE EXTENT TO WHICH COVID-19 MAY IMPACT THE ASSOCIATION'S CONSOLIDATED FINANCIAL POSITION AND CHANGES IN NET ASSETS AND CASH FLOWS IS UNCERTAIN AND THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS INCLUDE NO ADJUSTMENTS RELATING TO THE EFFECTS OF THIS PANDEMIC. IN FISCAL 2020 A NONOPERATING CHARGE OF APPROXIMATELY $787,000 WAS RECORDED TO REALIGN THE ASSOCIATION'S OPERATIONS AND POSITION ITSELF FOR A LOWER VARIABLE-COST MODEL. OF THIS EXPENSE APPROXIMATELY $750,000 WAS REVERSED IN FISCAL 2021, UPON A DECISION MADE BY THE FEDERAL GOVERNMENT TO FULLY SUBSIDIZE UNEMPLOYMENT CLAIMS INCURRED DURING THE PANDEMIC. IN FISCAL 2022 A NONOPERATING CHARGE OF APPROXIMATELY $781,000 WAS RECORDED BY THE ASSOCIATION'S BELGIUM AFFILIATE FOR RESTRUCTURING COSTS STEMMING FROM THE EFFECTS OF THE PANDEMIC. IN ADDITION, THE ASSOCIATION HAS RESTRUCTURED LEASES AND OBTAINED RENT CONCESSIONS FROM MANY OF ITS LESSORS IN THE FORM OF A REDUCTION IN LEASE PAYMENTS FOR A PERIOD OF TIME AND A DEFERRAL OF PAYMENTS TO A LATER DATE. AS A RESULT OF THE PANDEMIC, IN FISCAL 2021 AND 2022 THE ASSOCIATION WOULD PERIODICALLY CLOSE ITS CONFERENCE CENTER OFFICES IN THE UNITED STATES, EUROPE, CANADA AND MEXICO. IN MANY PLACES, GOVERNMENTS ALSO ISSUED "STAY-AT-HOME ORDERS THAT REQUIRED BUSINESSES TO REMAIN CLOSED. THE ASSOCIATION WORKED TOGETHER AS A WORLDWIDE ORGANIZATION AND KEPT MOVING FORWARD BY BEING AGILE AND RESPONSIVE WITH ITS ACTIVITIES. MANY IN-PERSON SEMINARS THAT WERE ORIGINALLY SCHEDULED TO TAKE PLACE FROM APRIL 2020 THROUGH MARCH 2022 WERE CANCELLED OR TRANSITIONED TO VIRTUAL EVENTS. THE IMPACT OF THE PANDEMIC CONTINUES TO CREATE UNCERTAINTY ABOUT THE FUTURE ECONOMIC OUTLOOK AND POSES A SIGNIFICANT CHALLENGE FOR THE ASSOCIATION'S EDUCATIONAL AND OTHER PROGRAM ACTIVITIES IN FISCAL 2023 DUE TO POTENTIAL OFFICE CLOSURES AND PARTICIPANTS' RELUCTANCE TO GATHER IN MEETING ROOMS. THE ASSOCIATION CONTINUES TO ADHERE TO GUIDANCE FROM THE CENTERS FOR DISEASE CONTROL AND PREVENTION AND STATE, LOCAL, AND INTERNATIONAL GOVERNMENTS. IN APRIL 2020, THE ASSOCIATION RECEIVED LOAN PROCEEDS IN THE AMOUNT OF $3,325,000 UNDER THE PAYCHECK PROTECTION PROGRAM ("PPP"). IN FEBRUARY 2021, THE ASSOCIATION RECEIVED PROCEEDS FROM A SECOND PPP LOAN IN THE AMOUNT OF $2,000,000. THE LOANS AND ACCRUED INTEREST ARE FORGIVABLE AFTER 24 WEEKS AS LONG AS THE BORROWER USES THE LOAN PROCEEDS FOR ELIGIBLE PURPOSES AND MAINTAINS ITS STAFFING LEVELS. IN JULY 2021 THE ASSOCIATION WAS AWARDED FULL FORGIVENESS OF ITS INITIAL PPP LOAN OF $3,325,000. IN NOVEMBER 2021 THE ASSOCIATION WAS AWARDED FULL FORGIVENESS OF ITS SECOND PPP LOAN OF $2,000,000. THE FULL FORGIVENESS OF THE TWO PPP LOANS IS REPORTED ON FORM 990, PART VIII, LINE 1(E) AS GOVERNMENTAL GRANT REVENUE. FORM 990, PART I, LINE 1 AND PART III, LINE 1: ORGANIZATION'S MISSION AMERICAN MANAGEMENT ASSOCIATION INTERNATIONAL (THE "ASSOCIATION OR "AMA") IS A MEMBERSHIP-BASED MANAGEMENT EDUCATION ORGANIZATION. THE ASSOCIATION OFFERS A FULL RANGE OF BUSINESS EDUCATION AND MANAGEMENT DEVELOPMENT PROGRAMS FOR INDIVIDUALS AND ORGANIZATIONS, WORLDWIDE. THE ASSOCIATION, INCORPORATED BY THE REGENTS OF THE UNIVERSITY OF THE STATE OF NEW YORK, IS EXEMPT FROM UNITED STATES FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. FORM 990, PART IV, LINE 12: CONSOLIDATED FINANCIAL STATEMENTS AMERICAN MANAGEMENT ASSOCIATION INTERNATIONAL IS AUDITED IN COMBINATION WITH ITS BRANCH IN BELGIUM AND ITS AFFILIATED ENTITIES IN EUROPE, CANADA, AND MEXICO. ALTHOUGH SEPARATE AUDITED FINANCIAL STATEMENTS ARE NOT ISSUED FOR THE TAX REPORTING ENTITY, A CONSOLIDATED AUDITED FINANCIAL STATEMENT WAS ISSUED FOR THE FISCAL YEAR ENDED MARCH 31, 2022 WHICH WAS PREPARED IN ACCORDANCE WITH GAAP. FORM 990, PART VI, SECTION A, LINE 3 DURING THE REPORTING YEAR, THE ASSOCIATION DELEGATED THE DAY-TO-DAY MANAGEMENT OF ITS EUROPEAN OPERATIONS TO AN INDEPENDENT CONTRACTOR EMPLOYED BY THE INVICE LTD. THIS INDIVIDUAL WORKS UNDER THE DIRECT SUPERVISION OF THE ASSOCIATION'S OFFICERS. MR. PATRICK FANIEL OVERSEES THE OPERATIONS OF THE ASSOCIATION'S BRANCH OFFICE IN BELGIUM, AS WELL AS AMERICAN MANAGEMENT ASSOCIATION EUROPE SA, A RELATED ORGANIZATION. HIS RESPONSIBILITIES INCLUDE BUT ARE NOT LIMITED TO: DIRECTING BUSINESS ACTIVITIES; PLANNING AND EXECUTING THE EUROPEAN BUDGET; GENERAL HUMAN RESOURCES DUTIES SUCH AS HIRING, FIRING AND SUPERVISING PERSONNEL. ALL ACTIONS AND DECISIONS ARE SUBJECT TO PARENT COMPANY OVERSIGHT AND ADHERE TO THE ASSOCIATION'S CORPORATE POLICIES AND PROCEDURES. FOR THE YEAR ENDED DECEMBER 31, 2021, THE ASSOCIATION PAID MR. FANIEL 186,960 EUROS FOR SERVICES, AND A DE MINIMUS AMOUNT FOR BUSINESS EXPENSE REIMBURSEMENTS. FORM 990, PART VI, SECTION A, LINE 6 ORGANIZATION MEMBERS AMA IS A MEMBER-BASED ORGANIZATION WITH THREE CLASSES OF MEMBERS: COMPANY MEMBERS, INDIVIDUAL MEMBERS AND E-MEMBERS. EACH PERSON ENROLLED AS A COMPANY MEMBER AND EACH PERSON ENROLLED AS AN INDIVIDUAL MEMBER SHALL HAVE VOTING RIGHTS; E-MEMBERS DO NOT HAVE ANY VOTING RIGHTS. FORM 990, PART VI, SECTION A, LINE 7A COMPANY AND INDIVIDUAL MEMBERS ARE AUTHORIZED TO ELECT AMA'S BOARD OF TRUSTEES (OTHER THAN THE PRESIDENT, CHAIR OF THE BOARD AND VICE CHAIR OF THE BOARD). FORM 990, PART VI, SECTION A, LINE 7B CERTAIN TRANSACTIONS OF THE CORPORATION, ACCORDING TO THE BY-LAWS AND/OR ARTICLES OF INCORPORATION, ARE APPROVED BY THE COMPANY AND INDIVIDUAL MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B PROCESS USED TO REVIEW FORM 990 THE ASSOCIATION'S FORM 990 IS INITIALLY PREPARED BY AN INDEPENDENT ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY THE ORGANIZATION'S FINANCE DEPARTMENT IN CONSULTATION WITH VARIOUS STAFF. THE DRAFT RETURN IS FIRST REVIEWED BY THE ASSOCIATION'S FINANCE DEPARTMENT AND EXECUTIVES. IT IS THEN PROVIDED TO THE ASSOCIATION'S BOARD OF TRUSTEES AND AUDIT COMMITTEE FOR REVIEW PRIOR TO FILING THE FORM 990 WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C MONITORING AND COMPLIANCE WITH CONFLICT OF INTEREST POLICY ALL NEW EMPLOYEES AND TRUSTEES ARE REQUIRED TO SUBMIT A CONFLICT OF INTEREST DISCLOSURE STATEMENT AT THE TIME OF HIRING OR PRIOR TO ELECTION TO THE BOARD, RESPECTIVELY, MAKING KNOWN ANY OUTSIDE AFFILIATIONS WHICH MAY POTENTIALLY CAUSE A CONFLICT OF INTEREST. ALL CURRENT EMPLOYEES (OTHER THAN OFFICERS AND KEY EMPLOYEES) ARE REQUIRED TO SUBMIT AN ANNUAL CONFLICT OF INTEREST DISCLOSURE STATEMENT TO THE GENERAL COUNSEL, DISCLOSING ALL SUCH POTENTIAL CONFLICTS. ALL CURRENT TRUSTEES, OFFICERS AND KEY EMPLOYEES ARE REQUIRED TO SUBMIT AN ANNUAL CONFLICT OF INTEREST ACKNOWLEDGEMENT AND DISCLOSURE STATEMENT TO THE BOARD SECRETARY, DISCLOSING ALL OUTSIDE AFFILIATIONS WHICH MAY POTENTIALLY CAUSE A CONFLICT OF INTEREST. IN ADDITION, EMPLOYEES ARE REQUIRED TO DISCLOSE TO THE PRESIDENT/CEO OR THE GENERAL COUNSEL, AND TRUSTEES, OFFICERS AND KEY EMPLOYEES ARE REQUIRED TO DISCLOSE TO THE AUDIT COMMITTEE CHAIRMAN, RESPECTIVELY, ANY POTENTIAL CONFLICTS OF INTEREST OR VIOLATIONS OF THE CONFLICT OF INTEREST POLICY AS THEY ARISE. IF NECESSARY, APPROPRIATE ACTION IS TAKEN TO RESOLVE ANY SUCH CONFLICTS OR VIOLATIONS. FORM 990, PART VI, SECTION B, LINE 15 EXECUTIVE COMPENSATION REVIEW AMA'S EXECUTIVE COMPENSATION IS REVIEWED AND APPROVED BY ITS COMPENSATION & BENEFITS COMMITTEE (THE "COMMITTEE") AND BOARD OF TRUSTEES (THE "BOARD"). THE PROCESS INCLUDES THE INDEPENDENT COMMITTEE SEEKING THE ADVICE OF AN OUTSIDE COMPENSATION FIRM. THE OUTSIDE FIRM BENCHMARKS EXECUTIVE COMPENSATION USING VALIDATED SURVEY DATA THAT FOCUSES ON THE MARKETPLACE THAT THEY AND THE COMMITTEE HAVE DEFINED AS APPROPRIATE. THE COMMITTEE MEETS AT LEAST ONCE A YEAR. THE COMMITTEE REVIEWS AND APPROVES ALL EXECUTIVE COMPENSATION WITH THE EXCEPTION OF THE CEO, WHOSE COMPENSATION REVIEW REQUIRES ADDITIONAL APPROVAL STEPS. THE COMMITTEE REVIEWS AND RECOMMENDS TO THE FULL BOARD ALL COMPENSATION MATTERS RELATED TO THE CEO. THE FULL BOARD THEN REVIEWS AND APPROVES THE COMPENSATION OF THE CEO. THE APPROVALS ARE DOCUMENTED IN THE MEETING MINUTES WHICH ARE MAINTAINED BY THE OFFICE OF THE SECRETARY AND GENERAL COUNSEL. THIS PROCESS WAS MOST RECENTLY COMPLETED IN APRIL 2022. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC AVAILABILITY OF DOCUMENTS THE ORGANIZATION'S BY-LAWS, CERTIFICATE OF INCORPORATION, CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. ALSO, THE FEDERAL FORM 990 WHICH INCLUDES FINANCIAL AND OTHER DISCLOSURES IS AVAILABLE ON GUIDESTAR AND UPON REQUEST. FORM 990, PART XI, LINE 9: CUMULATIVE TRANSLATION: 78,672. CURRENT YEAR MOVEMENT - SFAS 158: -43,793. CURRENT YEAR MOVEMENT - SFAS 106: 125,740. FORM 990, PART XII: CONSOLIDATED FINANCIAL STATEMENT AMERICAN MANAGEMENT ASSOCIATION INTERNATIONAL IS PART OF A CONSOLIDATED FINANCIAL STATEMENT AUDIT IN COMBINATION WITH ITS RELATED ORGANIZATIONS. THE CONSOLIDATED FINANCIAL STATEMENTS ISSUED FOR THE FISCAL YEAR ENDED MARCH 31, 2022 WERE PREPARED IN ACCORDANCE WITH GAAP. 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