| FORM 990, PART VI, SECTION A, LINE 4 |
THE ORGANIZATION MADE THE FOLLOWING SIGNIFICANT CHANGES TO ITS BYLAWS DURING THE YEAR: -CLASSES OF MEMBERSHIP AND THE VOTING RIGHTS FOR EACH CLASS OF MEMBERSHIP WERE CLARIFIED. GRANDFATHERED MEMBERS ARE FORMALLY RECOGNIZED; HOWEVER, NO NEW GRANDFATHERED MEMBERS MAY BE ADDED AFTER DECEMBER 31, 2016. -TO ENSURE ADEQUATE NOTICE AND DEBATE, THE REVISED BYLAWS REQUIRE AT LEAST 10-DAYS ADVANCE NOTICE BEFORE VOTES CONDUCTED BY THE EXECUTIVE COMMITTEE OR BOARD OF DIRECTORS. -THE AMENDED BYLAWS AUTHORIZE ELECTRONIC VOTING AND TELEPHONIC PARTICIPATION IN MEETINGS. WHEN THE EXECUTIVE COMMITTEE VOTES ELECTRONICALLY, A TWO-THIRDS MAJORITY VOTE WOULD BE REQUIRED FOR A MEASURE TO PASS. VOTING REQUIREMENTS FOR THE BOARD OF DIRECTORS REMAINS UNCHANGED, WITH A 25 PERCENT QUORUM REQUIREMENT AND A MAJORITY OF THOSE VOTING NEEDED FOR A MEASURE TO PASS. -TO ENCOURAGE BROADER MEMBER PARTICIPATION IN AFPM LEADERSHIP, THE NOMINATING COMMITTEE COMPOSITION WOULD BE CHANGED TO ENCOURAGE GREATER PARTICIPATION BY DIRECTORS WHO DO NOT SERVE ON THE EXECUTIVE COMMITTEE. -THE INDEMNIFICATION PROVISIONS WOULD BE BROADENED TO PROVIDE THE MAXIMUM AMOUNT OF PROTECTION TO MEMBER COMPANY REPRESENTATIVES WHO VOLUNTARILY PARTICIPATE IN AFPM ACTIVITIES. |
| FORM 990, PART VI, SECTION A, LINE 6 |
AFPM HAS OVER 450 MEMBER COMPANIES. |
| FORM 990, PART VI, SECTION A, LINE 7A |
THE AFPM BOARD OF DIRECTORS IS COMPRISED OF REPRESENTATIVES FROM EACH OF ITS REGULAR MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7B |
EACH PETROCHEMICAL AND REFINERS MEMBER COMPANY HAS ONE VOTE WHICH PERTAINS TO THE ISSUE BEING VOTED ON. AFPM BOARD MEMBERS APPROVE APPOINTED MEMBERS OF THE EXECUTIVE COMMITTEE; ANNUAL BUDGETS; ALTERATIONS/REVISIONS IN THE ASSOCIATION'S BYLAWS. |
| FORM 990, PART VI, SECTION B, LINE 11B |
THE CHIEF FINANCIAL OFFICER (CFO) AND ACCOUNTING MANAGER (AM) REVIEW THE UNAPPROVED FORM 990 AT A SCHEDULED MEETING AND SUBMIT REVISIONS AND/OR QUESTIONS TO THE CONTRACTED AUDITING FIRM (JOHNSON LAMBERT). THE FORM 990 FORM IS RETURNED TO THE CFO AND AM WITH REVISIONS (IF ANY) AND SUBMITTED BACK TO THE AUDITING FIRM AS APPROVED AND THE FINAL VERSION IS REVIEWED WITH THE PRESIDENT. |
| FORM 990, PART VI, SECTION B, LINE 12C |
AFPM PROVIDES THE POLICY TO ORGANIZATION PERSONNEL ANNUALLY AND MONITORS THE ADDITION OF NEW VENDORS AND COMPANY RELATED TRAVEL. |
| FORM 990, PART VI, SECTION B, LINE 15 |
INDEPENDENT SALARY SURVEY OF KEY POSITIONS WAS COMMISSIONED AND THE EXECUTIVE COMPENSATION IS VOTED ON BY THE EXECUTIVE COMMITTEE REVIEW BOARD ON AN ANNUAL BASIS. PRESIDENT'S SALARY AND BONUS WERE RECOMMENDED AND APPROVED BY THE EXECUTIVE COMMITTEE. |
| FORM 990, PART VI, SECTION C, LINE 19 |
GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. |
| FORM 990, PART IX, LINE 11G |
LITIGATION 784,129. REGULATORY AFFAIRS 419,795. OTHER CONSULTANTS 3,505,123. |
| FORM 990, PART XI, LINE 9: |
ADDITIONAL PENSION CHARGE (BENEFIT) -285,942. |
| AMENDED FORM 990: |
FORM 990 WAS AMENDED TO REFLECT POLITICAL CONTRIBUTIONS AND GRANTS INADVERTENTLY OMITTED FROM THE ORIGINAL FILING. |
Attach to Form 990 or 990-EZ.