STRATEGY STUDIO / PUBLIC DATA EXPLORER

ADVANCED BIOFUELS ASSOCIATION: Form 990, tax year 2010

View the entire original 990 at ProPublica ↗

Organization
ADVANCED BIOFUELS ASSOCIATION (EIN 26-4484456)
Tax period
2010-01-01 to 2010-12-31
Filed
2011-05-25
IRS object ID
201141459349300609
Schema version
2010v3.2
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Timestamp2011-05-25T12:20:09-05:00Timestamp
Tax Period End Date2010-12-31TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

FieldValueIRS element (for citing)
Business Name Line1EHRHARDT KEEFE STEINER & HOTTMAN PCBusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

FieldValueIRS element (for citing)
Address Line17979 E TUFTS AVENUE SUITE 400AddressLine1
CityDENVERCity
StateCOState
ZIP Code802372843ZIPCode
FieldValueIRS element (for citing)
Return Type990ReturnType
Tax Period Begin Date2010-01-01TaxPeriodBeginDate

Filer Filer

FieldValueIRS element (for citing)
EIN264484456EIN

Name Name

FieldValueIRS element (for citing)
Business Name Line1Advanced Biofuels AssociationBusinessNameLine1
FieldValueIRS element (for citing)
Name ControlADVANameControl
Phone2024695140Phone

US Address USAddress

FieldValueIRS element (for citing)
Address Line12099 Pennsylvania Avenue NW SuiAddressLine1
CityWashingtonCity
StateDCState
ZIP Code20006ZIPCode

Officer Officer

FieldValueIRS element (for citing)
NameMichael McAdamsName
TitlePresidentTitle
Date Signed2011-05-23DateSigned

Preparer Preparer

FieldValueIRS element (for citing)
NameCRAIG R CHOUNName
Phone3037409400Phone
FieldValueIRS element (for citing)
Tax Year2010TaxYear
Build TS2016-02-24 21:20:13ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Address ChangeXAddressChange
Name Of Principal Officer PersonMichael McAdamsNameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

FieldValueIRS element (for citing)
Address Line12099 Pennsylvania AveAddressLine1
CityWashingtonCity
StateDCState
ZIP Code20006ZIPCode
FieldValueIRS element (for citing)
Gross Receipts797695GrossReceipts
Group Return For AffiliatesfalseGroupReturnForAffiliates
Organization501cXOrganization501c
Web Siteadvancedbiofuelsassociation.comWebSite
Type Of Organization CorporationXTypeOfOrganizationCorporation
Year Formation2009YearFormation
State Legal DomicileDCStateLegalDomicile
Activity Or Mission DescriptionMEMBERSHIP ORGANIZATION FOR COMPANIES WITH ADVANCED TECHNOLOGIES THAT PROVIDE OPPORTUNITIES FOR RENEWABLE AND LOWER CARBON FUELSActivityOrMissionDescription
Nbr Voting Members Governing Body22NbrVotingMembersGoverningBody
Nbr Independent Voting Members22NbrIndependentVotingMembers
Total Nbr Employees0TotalNbrEmployees
Total Nbr Volunteers22TotalNbrVolunteers
Total Gross UBI0TotalGrossUBI
Contributions Grants Prior Year0ContributionsGrantsPriorYear
Contributions Grants Current Year0ContributionsGrantsCurrentYear
Program Service Revenue Prior Year502403ProgramServiceRevenuePriorYear
Program Service Revenue CY796956ProgramServiceRevenueCY
Investment Income Prior Year235InvestmentIncomePriorYear
Investment Income Current Year739InvestmentIncomeCurrentYear
Other Revenue Prior Year0OtherRevenuePriorYear
Other Revenue Current Year0OtherRevenueCurrentYear
Total Revenue Prior Year502638TotalRevenuePriorYear
Total Revenue Current Year797695TotalRevenueCurrentYear
Grants And Similar Amnts Prior Year0GrantsAndSimilarAmntsPriorYear
Grants And Similar Amnts CY0GrantsAndSimilarAmntsCY
Benefits Paid To Members Prior Year0BenefitsPaidToMembersPriorYear
Benefits Paid To Members CY0BenefitsPaidToMembersCY
Salaries Etc Prior Year0SalariesEtcPriorYear
Salaries Etc Current Year0SalariesEtcCurrentYear
Total Prof Fundrsng Exp Prior Year0TotalProfFundrsngExpPriorYear
Total Prof Fundrsng Exp CY0TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year0TotalFundrsngExpCurrentYear
Other Expense Prior Year369908OtherExpensePriorYear
Other Expenses Current Year593492OtherExpensesCurrentYear
Total Expenses Prior Year369908TotalExpensesPriorYear
Total Expenses Current Year593492TotalExpensesCurrentYear
Revenues Less Expenses Prior Year132730RevenuesLessExpensesPriorYear
Revenues Less Expenses CY204203RevenuesLessExpensesCY
Total Assets BOY152967TotalAssetsBOY
Total Assets EOY336933TotalAssetsEOY
Total Liabilities BOY20237TotalLiabilitiesBOY
Total Liabilities EOY0TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY132730NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY336933NetAssetsOrFundBalancesEOY
Mission DescriptionMEMBERSHIP ORGANIZATION FOR COMPANIES WITH ADVANCED TECHNOLOGIES THAT PROVIDE OPPORTUNITIES FOR RENEWABLE AND LOWER CARBON FUELSMissionDescription
Significant New Program ServicesfalseSignificantNewProgramServices
Significant ChangefalseSignificantChange
DescriptionTo foster and promote research, development and use of second generation fuel technologies and the benefits while acquiring and disseminating information regarding energy policy to its members.Description

Activity2 Activity2

FieldValueIRS element (for citing)
DescriptionTo track, analyze, recommend, comment on, and/or oppose legislation, regulations, and public programs affecting second generation fuel technolgies and the commercialization thereof.Description
FieldValueIRS element (for citing)
Described In501 C3falseDescribedIn501C3
Schedule B RequiredfalseScheduleBRequired
Political ActivitiesfalsePoliticalActivities
Subject To Proxy TaxtrueSubjectToProxyTax
Donor Advised FundsfalseDonorAdvisedFunds
Conservation EasementsfalseConservationEasements
Collections Of ArtfalseCollectionsOfArt
Credit CounselingfalseCreditCounseling
Term Or Permanent EndowmentsfalseTermOrPermanentEndowments
Report Land Bldg EquipfalseReportLandBldgEquip
Report Invest Oth SecuritiesfalseReportInvestOthSecurities
Report Prog Rel InvestfalseReportProgRelInvest
Report Other AssetsfalseReportOtherAssets
Report Other LiabilitiesfalseReportOtherLiabilities
Report Fin48 FootnotefalseReportFin48Footnote
Independent Audit Financial StmtfalseIndependentAuditFinancialStmt
Consolidated Audit Financial StmtfalseConsolidatedAuditFinancialStmt
SchoolfalseSchool
Foreign OfficefalseForeignOffice
Foreign ActivitiesfalseForeignActivities
More Than5000 K To OrganizationsfalseMoreThan5000KToOrganizations
More Than5000 K To IndividualsfalseMoreThan5000KToIndividuals
Professional FundraisingfalseProfessionalFundraising
Fundraising ActivitiesfalseFundraisingActivities
GamingfalseGaming
HospitalfalseHospital
Grants To OrganizationsfalseGrantsToOrganizations
Grants To IndividualsfalseGrantsToIndividuals
Schedule J RequiredfalseScheduleJRequired
Tax Exempt BondsfalseTaxExemptBonds
Loan To Officer Or DQPfalseLoanToOfficerOrDQP
Grant To Related PersonfalseGrantToRelatedPerson
Bsnss Rltnshp With OrganizationfalseBsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family MemberfalseBsnssRltnshpThruFamilyMember
Officer Entity With Bsnss RltnshpfalseOfficerEntityWithBsnssRltnshp
Deductible Non Cash ContributionsfalseDeductibleNonCashContributions
Deductible Contributions Of ArtfalseDeductibleContributionsOfArt
TerminatedfalseTerminated
Partial LiquidationfalsePartialLiquidation
Disregarded EntityfalseDisregardedEntity
Related EntityfalseRelatedEntity
Related Org Controlled EntityfalseRelatedOrgControlledEntity
Transaction Related EntityfalseTransactionRelatedEntity
Activities Conducted PartnershipfalseActivitiesConductedPartnership
Schedule O RequiredtrueScheduleORequired
Number Forms Transmitted With10963NumberFormsTransmittedWith1096
Number W2 G Included0NumberW2GIncluded
Compliance With Backup WitholdingtrueComplianceWithBackupWitholding
Number Of Employees0NumberOfEmployees
Unrelated Business IncomefalseUnrelatedBusinessIncome
Foreign Financial AccountfalseForeignFinancialAccount
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTrans
Taxable Party NotificationfalseTaxablePartyNotification
Non Deductible ContributionsfalseNonDeductibleContributions
Excess Business HoldingsfalseExcessBusinessHoldings
Indoor Tanning ServicesfalseIndoorTanningServices
Info In Schedule O Part VIXInfoInScheduleOPartVI
Nbr Voting Governing Body Members22NbrVotingGoverningBodyMembers
Number Independent Voting Members22NumberIndependentVotingMembers
Family Or Business RelationshipfalseFamilyOrBusinessRelationship
Delegation Of Management DutiesfalseDelegationOfManagementDuties
Changes To Organizing DocsfalseChangesToOrganizingDocs
Material Diversion Or MisusefalseMaterialDiversionOrMisuse
Members Or StockholderstrueMembersOrStockholders
Election Of Board MemberstrueElectionOfBoardMembers
Decisions Subject To ApprovalfalseDecisionsSubjectToApproval
Minutes Of Governing BodytrueMinutesOfGoverningBody
Minutes Of CommitteestrueMinutesOfCommittees
Officer Mailing AddressfalseOfficerMailingAddress
Local ChaptersfalseLocalChapters
Form990 Provided To Governing BodytrueForm990ProvidedToGoverningBody
Conflict Of Interest PolicytrueConflictOfInterestPolicy
Annual Disclosure Covered PersonstrueAnnualDisclosureCoveredPersons
Regular Monitoring EnforcementtrueRegularMonitoringEnforcement
Whistleblower PolicytrueWhistleblowerPolicy
Document Retention PolicytrueDocumentRetentionPolicy
Compensation Process CEOfalseCompensationProcessCEO
Compensation Process OtherfalseCompensationProcessOther
Investment In Joint VenturefalseInvestmentInJointVenture
Upon RequestXUponRequest

The Books Are In Care Of TheBooksAreInCareOf

FieldValueIRS element (for citing)
Name PersonDANIEL YELINNamePerson
Telephone Number2024695140TelephoneNumber

Address US AddressUS

FieldValueIRS element (for citing)
Address Line12099 PENNSYLVANIA AVENUENW SUITEAddressLine1
CityWASHINGTONCity
StateDCState
ZIP Code20006ZIPCode
FieldValueIRS element (for citing)
No Listed Persons CompensatedXNoListedPersonsCompensated

Form990 Part VII Section A Form990PartVIISectionA (22 entries)

TitleTitleAverage Hours Per WeekAverageHoursPerWeekIndividual Trustee Or DirectorIndividualTrusteeOrDirectorOfficerOfficerReportable Comp From OrganizationReportableCompFromOrganizationReportable Comp From Related OrgsReportableCompFromRelatedOrgsOther CompensationOtherCompensation
LEE EDWARDS
CHAIRMAN1.0XX000
ROBERT AMES
VICE CHAIRMAN1.0XX000
TODD MENOTTI
SECRETARY1.0XX000
JIM McVANEY
TREASURER1.0XX000
MICHAEL McADAMS
PRESIDENT20.0XX000
KINKEAD REILING
Director1.0X000
MATTHEW CASWELL
Director1.0X000
OMAR ABOU-SAYED
Director1.0X000
AL NOVAK
Director1.0X000
JACK HUTTNER
Director1.0X000
ROBERT RICHARDS
Director1.0X000
JON BALLESTEROS
Director1.0X000
NEVILLE FERNANDES
Director1.0X000
DAVID ISAACS
Director1.0X000
WAYNE SIMMONS
Director1.0X000
FRED WITMER
Director1.0X000
JOEL VELASCO
Director1.0X000
ANDRE DITSCH
DIRECTOR1.0X000
TIM ZENK
DIRECTOR1.0X000
VIANNEY VALES
DIRECTOR1.0X000
JACK OSWALD
DIRECTOR1.0X000
AMY CHIANG
DIRECTOR1.0X000
FieldValueIRS element (for citing)
Total Reportable Comp From Org0TotalReportableCompFromOrg
Total Reportable Comp Frm Rltd Orgs0TotalReportableCompFrmRltdOrgs
Total Other Compensation0TotalOtherCompensation
Number Individuals GT100 K0NumberIndividualsGT100K
Formers ListedfalseFormersListed
Total Comp GT150 KfalseTotalCompGT150K
Compensation From Other SourcesfalseCompensationFromOtherSources

Contractor Compensation ContractorCompensation

Name Of Contractor NameOfContractor

FieldValueIRS element (for citing)
Name PersonBrownstein Hyatt Farber SchreckNamePerson

Address Of Contractor AddressOfContractor

Address US AddressUS

FieldValueIRS element (for citing)
Address Line1410 17th Street Ste 2200AddressLine1
CityDENVERCity
StateCOState
ZIP Code80202ZIPCode
FieldValueIRS element (for citing)
Description Of ServicesManagement FeesDescriptionOfServices
Compensation375227Compensation
FieldValueIRS element (for citing)
Number Of Contractors GT100 K2NumberOfContractorsGT100K
Total Contributions0TotalContributions

Program Service Revenue ProgramServiceRevenue

FieldValueIRS element (for citing)
DescriptionMEMBERSHIP FEESDescription
Business Code541700BusinessCode
Total Revenue Column796956TotalRevenueColumn
Related Or Exempt Function Income796956RelatedOrExemptFunctionIncome
FieldValueIRS element (for citing)
Total Program Service Revenue796956TotalProgramServiceRevenue

Investment Income InvestmentIncome

FieldValueIRS element (for citing)
Total Revenue Column739TotalRevenueColumn
Exclusion$739ExclusionAmount

Income From Invest Bond Proceeds IncomeFromInvestBondProceeds

FieldValueIRS element (for citing)
Total Revenue Column0TotalRevenueColumn

Royalties Revenue RoyaltiesRevenue

FieldValueIRS element (for citing)
Total Revenue Column0TotalRevenueColumn

Net Gain Or Loss Investments NetGainOrLossInvestments

FieldValueIRS element (for citing)
Total Revenue Column0TotalRevenueColumn

Net Income From Fundraising Events NetIncomeFromFundraisingEvents

FieldValueIRS element (for citing)
Total Revenue Column0TotalRevenueColumn

Net Income From Gaming NetIncomeFromGaming

FieldValueIRS element (for citing)
Total Revenue Column0TotalRevenueColumn

Net Income Or Loss NetIncomeOrLoss

FieldValueIRS element (for citing)
Total Revenue Column0TotalRevenueColumn
FieldValueIRS element (for citing)
Total Other Revenue0TotalOtherRevenue

Total Revenue TotalRevenue

FieldValueIRS element (for citing)
Total Revenue Column797695TotalRevenueColumn
Related Or Exempt Function Income796956RelatedOrExemptFunctionIncome
Exclusion$739ExclusionAmount

Grants To Domestic Orgs GrantsToDomesticOrgs

FieldValueIRS element (for citing)
Total0Total

Grants To Domestic Individuals GrantsToDomesticIndividuals

FieldValueIRS element (for citing)
Total0Total

Foreign Grants ForeignGrants

FieldValueIRS element (for citing)
Total0Total

Benefits To Members BenefitsToMembers

FieldValueIRS element (for citing)
Total0Total

Comp Current Officers Directors CompCurrentOfficersDirectors

FieldValueIRS element (for citing)
Total0Total

Comp Disqual Persons CompDisqualPersons

FieldValueIRS element (for citing)
Total0Total

Other Salaries And Wages OtherSalariesAndWages

FieldValueIRS element (for citing)
Total0Total

Pension Plan Contributions PensionPlanContributions

FieldValueIRS element (for citing)
Total0Total

Other Employee Benefits OtherEmployeeBenefits

FieldValueIRS element (for citing)
Total0Total

Payroll Taxes PayrollTaxes

FieldValueIRS element (for citing)
Total0Total

Fees For Services Management FeesForServicesManagement

FieldValueIRS element (for citing)
Total375227Total

Fees For Services Legal FeesForServicesLegal

FieldValueIRS element (for citing)
Total235Total

Fees For Services Accounting FeesForServicesAccounting

FieldValueIRS element (for citing)
Total7541Total

Fees For Services Lobbying FeesForServicesLobbying

FieldValueIRS element (for citing)
Total0Total

Fees For Services Prof Fundraising FeesForServicesProfFundraising

FieldValueIRS element (for citing)
Total0Total

Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees

FieldValueIRS element (for citing)
Total0Total

Fees For Services Other FeesForServicesOther

FieldValueIRS element (for citing)
Total78400Total

Advertising Advertising

FieldValueIRS element (for citing)
Total36611Total

Office Expenses OfficeExpenses

FieldValueIRS element (for citing)
Total7929Total

Information Technology InformationTechnology

FieldValueIRS element (for citing)
Total35895Total

Royalties Royalties

FieldValueIRS element (for citing)
Total0Total

Occupancy Occupancy

FieldValueIRS element (for citing)
Total4523Total

Travel Travel

FieldValueIRS element (for citing)
Total40148Total

Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials

FieldValueIRS element (for citing)
Total0Total

Conferences Meetings ConferencesMeetings

FieldValueIRS element (for citing)
Total0Total

Interest Interest

FieldValueIRS element (for citing)
Total0Total

Payments To Affiliates PaymentsToAffiliates

FieldValueIRS element (for citing)
Total0Total

Depreciation Depletion DepreciationDepletion

FieldValueIRS element (for citing)
Total0Total

Insurance Insurance

FieldValueIRS element (for citing)
Total0Total

Other Expenses OtherExpenses (2 entries)

DescriptionDescriptionTotalTotal
RESEARCH4482
MISCELLANEOUS2501

Total Functional Expenses TotalFunctionalExpenses

FieldValueIRS element (for citing)
Total593492Total

Cash Non Interest Bearing CashNonInterestBearing

FieldValueIRS element (for citing)
BOY152967BOY
EOY336933EOY

Total Assets TotalAssets

FieldValueIRS element (for citing)
BOY152967BOY
EOY336933EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

FieldValueIRS element (for citing)
BOY20237BOY
EOY0EOY

Total Liabilities TotalLiabilities

FieldValueIRS element (for citing)
BOY20237BOY
EOY0EOY
FieldValueIRS element (for citing)
Do Not Follow SFAS117XDoNotFollowSFAS117

Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc

FieldValueIRS element (for citing)
BOY132730BOY
EOY336933EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

FieldValueIRS element (for citing)
BOY132730BOY
EOY336933EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

FieldValueIRS element (for citing)
BOY152967BOY
EOY336933EOY
FieldValueIRS element (for citing)
Reconcilation Revenue Expenses204203ReconcilationRevenueExpenses
Method Of Accounting AccrualXMethodOfAccountingAccrual
Accountant Compile Or ReviewfalseAccountantCompileOrReview
FS AuditedfalseFSAudited
Federal Grant Audit RequiredfalseFederalGrantAuditRequired

Schedule C IRS990ScheduleC

FieldValueIRS element (for citing)
Total Grassroots LobbyingTotalGrassrootsLobbying
Total Direct LobbyingTotalDirectLobbying
Total Lobbying ExpendituresTotalLobbyingExpenditures
Other Exempt Purpose ExpendituresOtherExemptPurposeExpenditures
Total Exempt Purpose ExpendituresTotalExemptPurposeExpenditures
Lobbying NontaxableLobbyingNontaxableAmount
Grassroots NontaxableGrassrootsNontaxableAmount
Tot Lobbying Grassroot Minus Non TxTotLobbyingGrassrootMinusNonTx
Tot Lobby Expend Mns Lobbying NontxTotLobbyExpendMnsLobbyingNontx
Substantially All Dues NondeductfalseSubstantiallyAllDuesNondeduct
Only In House LobbyingfalseOnlyInHouseLobbying
Agree To Carryover Prior YearfalseAgreeToCarryoverPriorYear
Dues Assessments796956DuesAssessments
Non Ded Lobby Political Current398478NonDedLobbyPoliticalCurrent
Non Ded Lobby Political Total398478NonDedLobbyPoliticalTotal
Aggr Amt Reported In Dues Notices398478AggrAmtReportedInDuesNotices
Taxable$0TaxableAmount

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (7 entries)

IdentifierIdentifierReturn ReferenceReturnReferenceExplanationExplanation
COPY OF 990PART VI, SECTION B, LINE 11THE TAX RETURN IS REVIEWED BY THE PRESIDENT AND TREASURER FOR ACCURACY AND COMPLETION, THEN FORWARDED TO THE EXECUTIVE COMMITTEE FOR FINAL REVIEW. THE TAX RETURN WILL THEN BE PRESENTED TO THE BOARD PRIOR TO FILING.
CONFLICT OF INTEREST POLICYFORM 990, PART VI, LINE 12MEMBERS OF THE BOARD OF TRUSTEES SIGN AN ANNUAL CERTIFICATION AFFIRMING WHETHER ANY CONFLICTS OF INTEREST EXIST. IF ANY CONFLICTS OF INTEREST ARISE DURING THE YEAR, THE TRUSTEES NOTIFY THE BOARD AND RECUSE THEMSELVES FROM VOTING ON ANY ISSUE PERTAINING TO THE CONFLICT.
OFFICER COMPENSATIONPART VI, SECTION B, LINE 15THE ORGANIZATION DOES NOT HAVE ANY PAID EMPLOYEES.
DOCUMENTS AVAILABLE TO THE PUBLICPART VI, SECTION C, LINE 19THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC.
MEMBERS AND STOCKHOLDERSPART VI, SECTION A, LINE 6THE ORGANIZATION HAS THE FOLLOWING CLASSES OF MEMBERS: 1) CLASS A - CHARTER MEMBERS 2) CLASS B - LEADING MEMBERS 3) CLASS C - SUPPORTING MEMBERS 4) CLASS D - ASSOCIATES
APPROVAL OF DECISIONS BY GOVERNING BODYPART VI, SECTION A, LINE 7CLASS A, CLASS B, AND CLASS C MEMBERS SHALL HAVE THE RIGHT TO APPOINT ONE DIRECTOR TO THE BOARD. NO MEMBERS HAVE THE RIGHT TO VOTE OR TAKE ACTION ON BEHALF OF THE ASSOCIATION.
DELEGATION OF AUTHORITYPART VI, LINE 1ATHE EXECUTIVE COMMITTEE HAS THE POWER AND AUTHORITY ON BEHALF OF THE BOARD OF DIRECTORS TO NOMINATE OFFICER AND EXECUTIVE COMMITTEE CANDIDATES FOR ELECTION BY THE BOARD, APPROVE EMERGENCY EXPENDITURES AND POLITICAL RESPONSES THAT THE BOARD COULD NOT APPROVE IN A TIMELY MANNER, PROPOSE TO THE BOARD CHANGES TO THE MEMBERSHIP DUES STRUCTURE OF THE ASSOCIATION, MAKE CONDITIONAL APPROVALS OF NEW MEMBER ADMISSIONS, RECOMMEND AN OPERATION BUDGET FOR APPROVAL BY THE BOARD,MAKE OTHER RECOMMENDATIONS TO THE BOARD, AND EXERCISE OTEHR FUNCTIONS AND DUTIES DELEGATED TO IT BY THE BOARD. THE EXECUTIVE COMMITTEE SHALL CONSIST OF SEVEN DIRECTORS OF THE BOARD, WHICH INCLUDES AUTOMATIC APPOINTMENT OF THE CHAIRMAN AND VICE CHAIRMAN.