TY 2017 Form 990 Schedule O

Instrumentl eFile RenderObject ID: 201802709349300615 - Rendered 2024-05-06 TIN: 41-0434680

SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
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Attach to Form 990 or 990-EZ.
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Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2017

Open to Public
Inspection

Name of the organization

INDUSTRIAL FABRICS ASSOCIATION
INTERNATIONAL

Employer identification number

41-0434680

Return Reference	Explanation
FORM 990, PART VI, SECTION A, LINE 6	THE ORGANIZATION HAS FOUR MEMBERSHIP CLASSIFICATIONS IN THE ASSOCIATION: GENERAL, INDIVIDUAL, AFFILIATE AND HONORED LIFE MEMBERS. GENERAL MEMBERS: ANY COMPANY OR ORGANIZATION WHOSE PRIMARY BUSINESS OBJECTIVE IS TO SUPPLY GOODS OR SERVICES USED BY AN END PRODUCT MANUFACTURER. ALSO, ANY COMPANY OR ORGANIZATION WHOSE PRIMARY BUSINESS OBJECTIVE IS THE MANUFACTURE, SALE, OR RENTAL OF PRODUCTS MADE IN WHOLE OR IN PART FROM INDUSTRIAL/TECHNICAL FABRICS. INDIVIDUAL MEMBERS: AN INDIVIDUAL WHO WISHES TO BUY A MEMBERSHIP THAT IS NOT PART OF AN ELIGIBLE COMPANY OR ORGANIZATION. AFFILIATE MEMBERS: OTHER ASSOCIATIONS, PUBLICATIONS, ACCREDITED POST-SECONDARY INSTITUTIONS AND GOVERNMENT AGENCIES. HONORED LIFE MEMBERS: ANY INDIVIDUAL, BY APPROVAL AND AT THE DISCRETION OF THE BOARD OF DIRECTORS, CAN BE GRANTED THE DESIGNATION. THE HONOR MAY BE BESTOWED ON AN INDIVIDUAL WHO IS A LONGSTANDING END PRODUCT MANUFACTURER OR SUPPLIER MEMBER OF THE ASSOCIATION WHO ALSO MEETS TWO OTHER QUALIFICATIONS DOCUMENTED IN THE BYLAWS.
FORM 990, PART VI, SECTION A, LINE 7A	THE GENERAL MEMBERSHIP OF THE ORGANIZATION HAS THE RIGHT TO ELECT DIRECTORS TO THE GOVERNING BODY.
FORM 990, PART VI, SECTION A, LINE 7B	THE GENERAL MEMBERS VOTE ON ANY BOARD ELECTIONS AND ALL BYLAW CHANGES.
FORM 990, PART VI, SECTION B, LINE 11B	THE FORM 990 IS REVIEWED BY THE VP FINANCE AND THEN PRESENTED TO THE PRESIDENT. THE PRESIDENT REVIEWS AND SIGNS THE FORM 990 BEFORE SUBMISSION TO THE INTERNAL REVENUE SERVICE.
FORM 990, PART VI, SECTION B, LINE 12C	BOARD MEMBERS AND THE PRESIDENT ARE COVERED UNDER THE POLICY. THIS IS MONITORED ANNUALLY AT NOMINATION/ELECTION TIME.
FORM 990, PART VI, SECTION B, LINE 15	COMPENSATION FOR THE PRESIDENT & CEO IS DETERMINED BY HUMAN RESOURCES BENCHMARKING AND THEN REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. THIS PROCESS WAS LAST COMPLETED IN 2018. OTHER OFFICER AND TOP MANAGEMENT COMPENSATION IS DETERMINED BY HUMAN RESOURCE BENCHMARKING, MARKET CIRCUMSTANCES AND WITH FINAL DECISION BY THE PRESIDENT & CEO AND CONSIDERATION OF THE BOARD APPROVED BUDGET. THIS PROCESS WAS LAST COMPLETED IN 2017.
FORM 990, PART VI, SECTION C, LINE 19	ANNUAL FINANCIAL STATEMENT IS PROVIDED TO ALL MEMBERS POST AUDIT.
FORM 990, PART XI, LINE 9:	RESTATEMENT OF PRIOR PERIOD NET ASSETS 975,261.

Return Reference

Explanation

FORM 990, PART VI, SECTION A, LINE 6

THE ORGANIZATION HAS FOUR MEMBERSHIP CLASSIFICATIONS IN THE ASSOCIATION: GENERAL, INDIVIDUAL, AFFILIATE AND HONORED LIFE MEMBERS. GENERAL MEMBERS: ANY COMPANY OR ORGANIZATION WHOSE PRIMARY BUSINESS OBJECTIVE IS TO SUPPLY GOODS OR SERVICES USED BY AN END PRODUCT MANUFACTURER. ALSO, ANY COMPANY OR ORGANIZATION WHOSE PRIMARY BUSINESS OBJECTIVE IS THE MANUFACTURE, SALE, OR RENTAL OF PRODUCTS MADE IN WHOLE OR IN PART FROM INDUSTRIAL/TECHNICAL FABRICS. INDIVIDUAL MEMBERS: AN INDIVIDUAL WHO WISHES TO BUY A MEMBERSHIP THAT IS NOT PART OF AN ELIGIBLE COMPANY OR ORGANIZATION. AFFILIATE MEMBERS: OTHER ASSOCIATIONS, PUBLICATIONS, ACCREDITED POST-SECONDARY INSTITUTIONS AND GOVERNMENT AGENCIES. HONORED LIFE MEMBERS: ANY INDIVIDUAL, BY APPROVAL AND AT THE DISCRETION OF THE BOARD OF DIRECTORS, CAN BE GRANTED THE DESIGNATION. THE HONOR MAY BE BESTOWED ON AN INDIVIDUAL WHO IS A LONGSTANDING END PRODUCT MANUFACTURER OR SUPPLIER MEMBER OF THE ASSOCIATION WHO ALSO MEETS TWO OTHER QUALIFICATIONS DOCUMENTED IN THE BYLAWS.

FORM 990, PART VI, SECTION A, LINE 7A

THE GENERAL MEMBERSHIP OF THE ORGANIZATION HAS THE RIGHT TO ELECT DIRECTORS TO THE GOVERNING BODY.

FORM 990, PART VI, SECTION A, LINE 7B

THE GENERAL MEMBERS VOTE ON ANY BOARD ELECTIONS AND ALL BYLAW CHANGES.

FORM 990, PART VI, SECTION B, LINE 11B

THE FORM 990 IS REVIEWED BY THE VP FINANCE AND THEN PRESENTED TO THE PRESIDENT. THE PRESIDENT REVIEWS AND SIGNS THE FORM 990 BEFORE SUBMISSION TO THE INTERNAL REVENUE SERVICE.

FORM 990, PART VI, SECTION B, LINE 12C

BOARD MEMBERS AND THE PRESIDENT ARE COVERED UNDER THE POLICY. THIS IS MONITORED ANNUALLY AT NOMINATION/ELECTION TIME.

FORM 990, PART VI, SECTION B, LINE 15

COMPENSATION FOR THE PRESIDENT & CEO IS DETERMINED BY HUMAN RESOURCES BENCHMARKING AND THEN REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. THIS PROCESS WAS LAST COMPLETED IN 2018. OTHER OFFICER AND TOP MANAGEMENT COMPENSATION IS DETERMINED BY HUMAN RESOURCE BENCHMARKING, MARKET CIRCUMSTANCES AND WITH FINAL DECISION BY THE PRESIDENT & CEO AND CONSIDERATION OF THE BOARD APPROVED BUDGET. THIS PROCESS WAS LAST COMPLETED IN 2017.

FORM 990, PART VI, SECTION C, LINE 19

ANNUAL FINANCIAL STATEMENT IS PROVIDED TO ALL MEMBERS POST AUDIT.

FORM 990, PART XI, LINE 9:

RESTATEMENT OF PRIOR PERIOD NET ASSETS 975,261.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2017

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