2024-11-14T13:55:04-06:00 2023-12-31 991856619 GRANT THORNTON ADVISORS LLC 75 STATE STREET BOSTON MA 02109 990 2023-01-01 041045830 ASSOCIATED INDUSTRIES OF MASSACHUSETTS INC ASSO 6172621180 30 FEDERAL ST 5TH FLOOR BOSTON MA 02110 SARALEE G SESNOVICH SVP, FINANCE & ADMINISTRATION 6172621180 2024-11-14 1 1 ERIN COUTURE P01390592 2125990100 2023 2024-10-15 13:58:12Z X BROOKE M THOMSON 30 FEDERAL ST 5TH FLOOR BOSTON MA 02110 6383477 0 X WWW.AIMNET.ORG X 1915 MA AIM'S MISSION IS TO PROMOTE THE WELL-BEING OF ITS MEMBERS AND THEIR EMPLOYEES... (SEE SCHEDULE O).AN INCLUSIVE ECONOMIC ENVIRONMENT, AND THE PROSPERITY OF THE COMMONWEALTH OF MASSACHUSETTS. 53 53 54 53 68403 65403 0 100000 4782383 4844270 431179 -144969 1309153 1291156 6522715 6090457 0 0 0 0 4318502 4810855 0 0 0 1395404 1148554 5713906 5959409 808809 131048 11712253 12655886 3845550 3893219 7866703 8762667 X AS THE LARGEST NONPROFIT, NONPARTISAN ASSOCIATION OF MASSACHUSETTS EMPLOYERS, AIM'S MISSION IS TO PROMOTE THE WELL-BEING OF ITS MEMBERS AND THEIR EMPLOYEES AND THE PROSPERITY OF MASSACHUSETTS... (SEE SCHEDULE O).... BY IMPROVING THE ECONOMIC CLIMATE OF MASSACHUSETTS, ADVOCATING FAIR AND EQUITABLE PUBLIC POLICY AND PROVIDING RELEVANT, RELIABLE INFORMATION AND EXCELLENT SERVICES. 0 0 0 0 0 WORKED ON BEHALF OF MASSACHUSETTS EMPLOYERS TO IMPROVE THE ECONOMIC CLIMATE IN MASSACHUSETTS; PROVIDED RELEVANT AND RELIABLE INFORMATION AND ADVOCATED FOR FAIR AND EQUITABLE PUBLIC POLICIES THROUGH LEGISLATIVE AND REGULATORY ACTIVITIES AND PUBLIC AFFAIRS PROGRAMS. DEVELOPED AND DELIVERED EDUCATIONAL SEMINARS AND MEETINGS TO PROVIDE GENERAL OR TECHNICAL INFORMATION ON ISSUES IMPACTING EMPLOYERS. 0 1 0 1 0 0 0 0 0 1 1 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 20 0 1 54 1 1 1 0 0 0 0 0 0 0 X 53 53 1 0 1 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X SARALEE G SESNOVICH 6174888368 30 FEDERAL ST 5TH FLOOR BOSTON MA 02110 JOHN R REGAN NON-VOTING PRES(THRU 06/2023)/CEO(THRU 12/2023) 33.00 2.00 X X 459039 0 30219 BROOKE M THOMSON NON-VOTING EXEC VP(THRU 06/23)/PRES(AS OF 07/23) 34.90 0.10 X X 350819 0 13281 PATRICIA BEGROWICZ CHAIR 1.00 0.00 X X 0 0 0 GREGORY BUSCONE TREASURER/VICE CHAIR (AS OF 05/2023) 1.00 0.00 X X 0 0 0 ANNEMARIE ABDO DIRECTOR (AS OF 05/2023) 1.00 0.00 X 0 0 0 ROBERT BABCOCK DIRECTOR 1.00 0.00 X 0 0 0 JOE BAHENA DIRECTOR 1.00 0.00 X 0 0 0 DONALD BALDINI ESQ DIRECTOR 1.00 0.00 X 0 0 0 PHYLLIS BARAJAS DIRECTOR 1.00 0.00 X 0 0 0 WILLIAM C BLANKER DIRECTOR 1.00 0.00 X 0 0 0 ANNE BROHOLM DIRECTOR 1.00 0.00 X 0 0 0 DAVID BUGBEE DIRECTOR 1.00 0.00 X 0 0 0 BRIAN BURKE DIRECTOR 1.00 0.00 X 0 0 0 SAMUEL CABOT III DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL T CALIJOUW DIRECTOR (AS OF 01/2023) 1.00 0.00 X 0 0 0 CAROL CAMPBELL DIRECTOR 1.00 0.00 X 0 0 0 TRICIA CANAVAN DIRECTOR 1.00 0.00 X 0 0 0 KRISTIN E CARLSON DIRECTOR 1.00 0.00 X 0 0 0 ADAM CHASE DIRECTOR 1.00 0.00 X 0 0 0 PETER R CHASE DIRECTOR 1.00 0.00 X 0 0 0 SCOTT CHATLIN DIRECTOR 1.00 0.00 X 0 0 0 TORRANCE CHILDS DIRECTOR (THRU 08/2023) 1.00 0.00 X 0 0 0 JEFF CROWLEY DIRECTOR 1.00 0.00 X 0 0 0 MARTIN D'ERAMO DIRECTOR (THRU 05/2023) 1.00 0.00 X 0 0 0 JACK DERBY DIRECTOR 1.00 0.00 X 0 0 0 JOHN DOUCETTE DIRECTOR 1.00 0.00 X 0 0 0 JANELL DUBSKY DIRECTOR 1.00 0.00 X 0 0 0 HERBY DUVERNE DIRECTOR 1.00 0.00 X 0 0 0 GARY EVEE DIRECTOR (AS OF 01/2023) 1.00 0.00 X 0 0 0 CHRISTINA FISHER DIRECTOR 1.00 0.00 X 0 0 0 HOWARD J GOLDMAN DIRECTOR (THRU 05/2023) 1.00 0.00 X 0 0 0 STEVE GRANDE DIRECTOR (THRU 05/2023) 1.00 0.00 X 0 0 0 WILLIAM F GRANT DIRECTOR 1.00 0.00 X 0 0 0 LESLIE E GREIS DIRECTOR 1.00 0.00 X 0 0 0 CHRISTA HAGEARTY DIRECTOR 1.00 0.00 X 0 0 0 CHARLES HATCH DIRECTOR (THRU 05/2023) 1.00 0.00 X 0 0 0 JOANNE K HILFERTY DIRECTOR 1.00 0.00 X 0 0 0 CAROL HOLAHAN DIRECTOR 1.00 0.00 X 0 0 0 DOMINICK IANNO DIRECTOR 1.00 0.00 X 0 0 0 MARIE JOHNSON DIRECTOR 1.00 0.00 X 0 0 0 TED L KANE DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL E KENEALLY DIRECTOR (THRU 05/2023) 1.00 0.00 X 0 0 0 DANIEL C KENARY DIRECTOR 1.00 0.00 X 0 0 0 PIA KUMAR DIRECTOR 1.00 0.00 X 0 0 0 DONNA LATSON GITTENS DIRECTOR/CLERK (AS OF 05/2023) 1.00 0.00 X X 0 0 0 MARIANNE LANCASTER DIRECTOR 1.00 0.00 X 0 0 0 JESS LEE DIRECTOR (AS OF 01/2023) 1.00 0.00 X 0 0 0 EMILLEY LOCKHART DIRECTOR (THRU 05/2023) 1.00 0.00 X 0 0 0 JOHN M LYNCH ESQ DIRECTOR 1.00 0.00 X 0 0 0 JAMES MCCARTHY DIRECTOR 1.00 0.00 X 0 0 0 EZEQUIEL MONTEMAYOR DIRECTOR (THRU 05/2023) 1.00 0.00 X 0 0 0 SUZANNE NADESKI DIRECTOR (THRU 05/2023) 1.00 0.00 X 0 0 0 DEREK OLIVER DIRECTOR (THRU 05/2023) 1.00 0.00 X 0 0 0 THOMAS PACHECO DIRECTOR (THRU 08/2023) 1.00 0.00 X 0 0 0 KRINA PATEL DIRECTOR 1.00 0.00 X 0 0 0 SRINIVAS REDDY DIRECTOR (THRU 08/2023) 1.00 0.00 X 0 0 0 EMILY REICHERT PHD DIRECTOR (THRU 05/2023) 1.00 0.00 X 0 0 0 CATHY ROCHELEAU DIRECTOR (AS OF 01/2023) 1.00 0.00 X 0 0 0 ANTHONY SAMUELS DIRECTOR 1.00 0.00 X 0 0 0 ELAINE SHANNON DIRECTOR (AS OF 05/2023) 1.00 0.00 X 0 0 0 JESSE STANESA DIRECTOR 1.00 0.00 X 0 0 0 JOHN C STOWE DIRECTOR 1.00 0.00 X 0 0 0 MARCELO SUAREZ-OROZCO DIRECTOR 1.00 0.00 X 0 0 0 MEGHAN SULLIVAN DIRECTOR 1.00 0.00 X 0 0 0 LYNN TOKARCZYK DIRECTOR 1.00 0.00 X 0 0 0 NATHAN TUAN PHAM DIRECTOR 1.00 0.00 X 0 0 0 DANIEL WALSH DIRECTOR (AS OF 05/2023) 1.00 0.00 X 0 0 0 LUIS YEPEZ DIRECTOR 1.00 0.00 X 0 0 0 CHRISTOPHER KEALEY EXEC VP & COO 31.50 3.50 X 339417 0 38806 SARALEE G SESNOVICH SVP, FINANCE & ADMINISTRATION 33.00 2.00 X 208758 0 16414 CHRISTOPHER P GEEHERN - CLERK (THRU 05/2023)/EXEC VP-PUB AFF & COM 35.00 0.00 X 227978 0 20312 ROBERT S PAINE EXEC VP-MEMBERSHIP, SALES & ENGMT. 35.00 0.00 X 245173 0 37988 STEPHANIE L SWANSON AS OF 07 2023)/EXEC VP-GOVERNMENT AFFAIRS 35.00 0.00 X 189151 0 6323 KYLE J PARDO EXEC VP, AIMHR SOLUTIONS 2.00 33.00 X 241694 0 10353 KAREN WALLACE EXEC VP, MARKETING 35.00 0.00 X 216758 0 16628 THERESA A COOK SR VP - EMPLOYER SERVICE 7.00 28.00 X 163044 0 7224 CHRIS F DEMATOS VP, INFORMATION TECHNOLOGY & INFRA. 33.00 2.00 X 160903 0 32045 SAMUEL W LARSON VP, GOVT AFFAIRS & LEGAL COUNCIL 35.00 0.00 X 149753 0 15638 2952487 0 245231 22 0 1 0 0 100000 100000 MEMBERSHIP DUES 541900 4037680 4037680 SPONSORSHIP INCOME 541900 743800 743800 EDUCATIONAL PROGRAMS 541900 62790 62790 4844270 88608 88608 1209486 1209486 59443 59443 0 233577 -233577 -233577 -233577 IMPUTED INTEREST 541900 68403 68403 MISCELLANEOUS INCOME 900099 13267 13267 81670 6090457 4844270 68403 1077784 2112516 1972306 99056 367059 259918 90235 60423 12750 109097 72817 243717 125890 38269 43910 94359 37370 PURCHASED SERVICES 158429 MEMBERSHIP AND CONTRIB. 61288 5959409 156872 929861 465015 475051 145557 104128 97809 76303 625605 452660 213258 172945 5179167 5863120 2861904 2861904 2592671 2172574 11712253 12655886 785425 890632 2024599 2139026 1035526 863561 3845550 3893219 X 7866703 8662667 100000 7866703 8762667 11712253 12655886 X 131048 851485 -86569 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 1 4037680 300847 300847 705383 -404536 10981 10981 0 614624 441679 172945 172945 INVESTMENT IN SUBSIDIARIES 2861904 F 2861904 INTERCOMPANY RECEIVABLES 1880352 RELATED-PARTY INVESTMENT 200000 OPERATING RIGHT-OF-USE ASSETS 92222 2172574 DEFERRED COMPENSATION 771339 OPERATING LEASE LIABILITY 92222 863561 X 6891705 851485 18166 869651 6022054 68403 68403 6090457 5959409 0 5959409 0 5959409 PART X, LINE 2: ASC 740 THE ASSOCIATION IS A NOT-FOR-PROFIT ORGANIZATION DESCRIBED IN SECTION 501(C)(6) OF THE CODE, AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. THE INCOME TAX CONSEQUENCES, IF ANY, FROM THESE ENTITIES ARE REFLECTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE ASSOCIATION IS REQUIRED TO ASSESS UNCERTAIN TAX POSITIONS AND HAS DETERMINED THAT THERE WERE NO SUCH POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE ASSOCIATION BELIEVES IT IS NO LONGER SUBJECT TO U.S. FEDERAL AND STATE INCOME TAX EXAMINATIONS BY THE TAX AUTHORITIES FOR FISCAL YEARS PRIOR TO AND INCLUDING 2017. PART XI, LINE 2D - OTHER ADJUSTMENTS: PROVISION FOR INCOME TAXES 18,166. PART XI, LINE 4B - OTHER ADJUSTMENTS: IMPUTED INTEREST FROM INTERCOMPANY LOAN 68,403. X X X X 0 0 0 JOHN R REGAN NON-VOTING PRES(THRU 06/2023)/CEO(THRU 12/2023) 380917 0 68959 0 9163 0 9157 0 21062 0 489258 0 0 0 CHRISTOPHER KEALEY EXEC VP & COO 283004 0 49000 0 7413 0 8982 0 29824 0 378223 0 0 0 BROOKE M THOMSON NON-VOTING EXEC VP(THRU 06/23)/PRES(AS OF 07/23 294359 0 50000 0 6460 0 8843 0 4438 0 364100 0 0 0 ROBERT S PAINE EXEC VP-MEMBERSHIP, SALES & ENGMT. 214752 0 23000 0 7421 0 7726 0 30262 0 283161 0 0 0 KYLE J PARDO EXEC VP, AIMHR SOLUTIONS 206000 0 29000 0 6694 0 6505 0 3848 0 252047 0 0 0 CHRISTOPHER P GEEHERN - CLERK (THRU 05/2023)/EXEC VP-PUB AFF & COM 195252 0 25000 0 7726 0 1033 0 19279 0 248290 0 0 0 KAREN WALLACE EXEC VP, MARKETING 185609 0 29000 0 2149 0 6319 0 10309 0 233386 0 0 0 SARALEE G SESNOVICH SVP, FINANCE & ADMINISTRATION 181555 0 26000 0 1203 0 5131 0 11283 0 225172 0 0 0 STEPHANIE L SWANSON AS OF 07 2023)/EXEC VP-GOVERNMENT AFFAIRS 185865 0 0 0 3286 0 5589 0 734 0 195474 0 0 0 CHRIS F DEMATOS VP, INFORMATION TECHNOLOGY & INFRA. 151406 0 9000 0 497 0 2782 0 29263 0 192948 0 0 0 THERESA A COOK SR VP - EMPLOYER SERVICE 149468 0 13300 0 276 0 5036 0 2188 0 170268 0 0 0 SAMUEL W LARSON VP, GOVT AFFAIRS & LEGAL COUNCIL 137540 0 12000 0 213 0 4453 0 11185 0 165391 0 0 0 FORM 990, PART VI, LINE 1B DELEGATION OF AUTHORITY THE EXECUTIVE COMMITTEE IS THE ONLY BOARD COMMITTEE WITH BOARD-DELEGATED AUTHORITY. THE EXECUTIVE COMMITTEE HAS ALL THE POWERS AND AUTHORITY OF THE BOARD IN THE INTERVALS BETWEEN BOARD MEETINGS, EXCEPT FOR SPECIFIC POWERS RESERVED SOLELY TO THE BOARD (E.G. ELECTING OR REMOVING DIRECTORS AND OFFICERS) OR TO EMPLOYER MEMBERS. THE EXECUTIVE COMMITTEE REVIEWS AND OVERSEES THE DEVELOPMENT AND IMPLEMENTATION OF THE ORGANIZATION'S PLANS AND BUDGETS AS WELL AS IMPLEMENTATION OF POLICIES AND DECISIONS OF THE BOARD NOT ASSIGNED TO OTHER STANDING COMMITTEES. THE EXECUTIVE COMMITTEE MAKES RECOMMENDATIONS TO THE BOARD TO TAKE CERTAIN ACTIONS INCLUDING APPROVAL OF THE ANNUAL BUDGET, THE PUBLIC POLICY AGENDA, CHANGES TO DUES SCHEDULES. FORM 990, PART VI, SECTION A, LINE 2 FAMILY AND BUSINESS RELATIONSHIPS 1) ADAM CHASE AND PETER CHASE - FAMILY RELATIONSHIP 2) ADAM CHASE, PETER CHASE, AND JACK DERBY - BUSINESS RELATIONSHIP 3) WILLIAM BLANKER, PETER CHASE, AND LESLIE E. GREIS - BUSINESS RELATIONSHIP FORM 990, PART VI, SECTION A, LINE 4 DURING THE TAX YEAR 2023, AIM AMENDED THEIR BYLAWS AND ARTICLES OF INCORPORATION TO MATCH ITS NEEDS IN AREAS SUCH AS THE ORGANIZATIONAL STRUCTURE, BOARD SIZE, BOARD TERMS AND TERM LIMITS. CORPORATE MEMBERSHIP STRUCTURE: AIM STILL HAS TWO CLASSES OF CORPORATE MEMBERS EMPLOYER MEMBERS AND GOVERNING MEMBERS TO FACILITATE CORPORATE MEMBER APPROVALS REQUIRED BY LAW. THE BY-LAWS NOW CLARIFY THAT, AS BETWEEN EMPLOYER MEMBERS AND GOVERNING MEMBERS, ONLY EMPLOYER MEMBERS SHOULD VOTE ON ELECTING DIRECTORS AND ONLY GOVERNING MEMBERS SHOULD VOTE ON OTHER ACTIONS WHERE A VOTE OF CORPORATE MEMBERS IS REQUIRED OR PERMITTED BY LAW. AIM FOLLOWS AND DOCUMENTS THIS PROCESS IN THE MINUTES. DIRECTORS' TERMS AND TERM LIMITS: THE BY-LAWS NOW SPECIFY THAT DIRECTORS WHO HAVE REACHED THEIR TERM LIMITS MAY BE REELECTED TO THE BOARD AFTER A BREAK OF AT LEAST ONE YEAR AND THAT THE BOARD, WHERE IT DEEMS NECESSARY, MAY EXTEND BY ONE YEAR THE TERM OF DIRECTORS WHO HAVE REACHED THEIR TERM LIMIT. APPROVAL AUTHORITY: THE BOARD (AS OPPOSED TO THE EXECUTIVE COMMITTEE) SHOULD APPROVE SPECIFIC ACTIONS: (1) AS REQUIRED BY LAW FOR EXAMPLE, ELECTING OFFICERS AND DIRECTORS (IN ADDITION TO DIRECTORS ELECTED BY THE EMPLOYER MEMBERS) AND REMOVING THEM; (2) THAT THE BOARD RESERVES TO ITSELF FROM TIME TO TIME (E.G., ACTIONS PRESCRIBED BY GOVERNANCE BEST PRACTICES, SUCH AS HIRING AND TERMINATING THE PRESIDENT/CEO, SETTING PRESIDENT/CEO COMPENSATION, CHANGING THE MISSION STATEMENT, APPROVING THE STRATEGIC PLAN AND THE ANNUAL PLAN AND BUDGET; AND (3) AS FURTHER SPECIFIED IN THE BY-LAWS (E.G., APPROVING CHANGES TO DUES). ROLE OF PRESIDENT/CEO: THE CURRENT PRESIDENT/CEO SERVES AS A NON-VOTING DIRECTOR EX OFFICIO. FORMER PRESIDENTS/CEOS WILL NOT SERVE AS VOTING DIRECTORS EX OFFICIO. OFFICERS AND THEIR TERMS AND TERM LIMITS: THE CURRENT OFFICERS SHOULD BE BOARD CHAIR, VICE CHAIR, TREASURER AND CLERK, AND THE BY-LAWS PROVIDE THE BOARD THE FLEXIBILITY TO ELECT ADDITIONAL OFFICERS (SUCH AS ASSISTANT TREASURER OR ASSISTANT CLERK). OFFICERS SERVE FOR ONE-YEAR TERMS WITH THE BOARD CHAIR LIMITED TO TWO CONSECUTIVE ONE-YEAR TERMS UNLESS THE BOARD DEEMS IT NECESSARY TO EXTEND THE BOARD CHAIR'S TENURE BY ONE ADDITIONAL YEAR. THERE ARE NO TERM LIMITS FOR OTHER OFFICERS. PAST BOARD CHAIRS: THE IMMEDIATE PAST BOARD CHAIR SERVES AS A VOTING DIRECTOR EX OFFICIO AND AS A VOTING EX OFFICIO MEMBER OF THE EXECUTIVE COMMITTEE. SEVERAL CURRENTLY ACTIVE PAST BOARD CHAIRS DESIGNATED BY THE BOARD CONTINUE AS VOTING DIRECTORS TO BE ELECTED ANNUALLY. OTHER PAST CHAIRS ARE CONSIDERED FOR DIRECTOR EMERITUS. DIRECTORS EMERITUS: FORMER BOARD CHAIRS AND OTHER FORMER DIRECTORS WHOSE SERVICE TO AIM AND THE BOARD HAS BEEN PARTICULARLY EXEMPLARY MAY BE ELECTED ANNUALLY AS DIRECTORS EMERITUS EITHER BY THE EMPLOYER MEMBERS OR THE BOARD. ROLE OF EXECUTIVE COMMITTEE: THE EXECUTIVE COMMITTEE IS THE ONLY COMMITTEE WITH BOARD-DELEGATED AUTHORITY AND THE ABILITY TO ACT ON BEHALF OF THE BOARD. ROLE OF NOMINATING COMMITTEE: THE ROLE OF THE NOMINATING COMMITTEE HAS EXPANDED TO INCLUDE GOVERNANCE MORE BROADLY. IN ADDITION TO THESE RECOMMENDATIONS, THE COMMITTEE THERE WAS A NUMBER OF TECHNICAL EDITS TO THE ARTICLES OF INCORPORATION AND BY-LAWS TO ASSURE COMPLIANCE WITH AND TAKE ADVANTAGE OF FLEXIBILITIES PERMITTED BY LAW AND REGULATION (INCLUDING NEW LEGISLATION PERMITTING MEMBERS TO PARTICIPATE IN MEETINGS REMOTELY), SIMPLIFY THE PROCESS FOR REVISION IN THE FUTURE, AND CLARIFY MATTERS THAT ARE STANDARD IN BY-LAWS SUCH AS MEETING NOTICES, WRITTEN CONSENT, AND ELECTRONIC DOCUMENTS AND SIGNATURES. FORM 990, PART VI, SECTION A, LINE 6 MEMBERS OR STOCKHOLDERS ASSOCIATED INDUSTRIES OF MASSACHUSETTS, INC. IS A MEMBERSHIP ORGANIZATION COMPRISED OF MASSACHUSETTS BUSINESSES. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OR STOCKHOLDERS WHO MAY ELECT THE ORGANIZATION'S NOMINATING COMMITTEE OF THE BOARD MAKES RECOMMENDATIONS FOR NEW BOARD MEMBERS TO THE FULL BOARD, CONSISTENT WITH THE ORGANIZATION'S GOVERNING DOCUMENTS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS FORM 990 WAS PREPARED BY GRANT THORNTON ADVISORS LLC (GT), THE ORGANIZATION'S TAX ADVISORS, FROM INFORMATION PROVIDED BY MANAGEMENT. GT AND MANAGEMENT MET WITH THE ORGANIZATION'S AUDIT COMMITTEE REVIEWING THE FILING IN DETAIL. SUBSEQUENT TO REVIEW AND UPON FINALIZATION, THE COMPLETE FORM 990 (WITH REQUIRED SCHEDULES) WAS PROVIDED ELECTRONICALLY TO EACH MEMBER OF THE GOVERNING BODY PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTERECT POLICY MONITORING & ENFORCEMENT THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY. ANNUALLY, EACH BOARD MEMBER AND OFFICER OF AIM AND OF ASSOCIATED ORGANIZATIONS AND EVERY AIM EMPLOYEE MUST ACKNOWLEDGE READING AND UNDERSTANDING THE CONFLICT POLICY AND MUST COMPLETE AND RETURN AN ANNUAL CONFLICT DISCLOSURE QUESTIONNAIRE. IN ADDITION, ANY NEW OR POTENTIAL CONFLICT OF INTEREST OF ANY BOARD MEMBER, OFFICER, OR EMPLOYEE MUST BE DISCLOSED IMMEDIATELY TO THE PRESIDENT AND CEO WHO IN TURN MUST DISCLOSE TO THE CHAIRMAN. IN ADDITION, ANY MEMBER OF THE BOARD HAVING AN EXISTING OR POTENTIAL CONFLICT OF INTEREST WITH RESPECT TO ANY MATTER WHICH IS THE SUBJECT OF ACTION BY THE BOARD OR ITS COMMITTEES SHALL DISCLOSE SUCH CONFLICT AND THE MEMBER WILL NOT BE COUNTED IN DETERMINING THE QUORUM AND SHALL NOT VOTE ON THE MATTER. ANY EMPLOYEE OF AIM OR OF ASSOCIATED ORGANIZATIONS WITH A CONFLICT OF INTEREST SHALL ABSTAIN AND NOT PARTICIPATE IN DISCUSSIONS CONCERNING THE ACTIONS OF THE ORGANIZATION IN REGARD TO THE MATTER WHICH IS THE SUBJECT OF THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR DETERMINING COMPENSATION THE COMPENSATION COMMITTEE OF THE BOARD REVIEWS PERFORMANCE AND COMPENSATION OF THE ORGANIZATION'S PRESIDENT AND CEO AND MAKES COMPENSATION AND BONUS RECOMMENDATIONS TO THE EXECUTIVE COMMITTEE OF THE BOARD. ALL RECOMMENDATIONS ARE DOCUMENTED BY THE COMPENSATION COMMITTEE AND SENT TO THE EXECUTIVE COMMITTEE FOR APPROVAL. THE EXECUTIVE COMMITTEE VOTES ON THE RECOMMENDATIONS OF THE COMPENSATION COMMITTEE AND DOCUMENTS ITS DECISION. ON A REGULAR BASIS - MOST RECENTLY IN 2021 - THE COMPENSATION COMMITTEE EMPLOYED THE SERVICES OF AN INDEPENDENT COMPENSATION CONSULTANT TO CONDUCT A COMPETITIVE MARKET REVIEW OF THE CEO'S COMPENSATION USING GENERALLY ACCEPTED METHODS AND PRACTICES. THE ORGANIZATION EMPLOYS THE SERVICES OF AN INDEPENDENT COMPENSATION CONSULTANT TO CONDUCT AN INDEPENDENT COMPENSATION STUDY FOR ALL OTHER OFFICERS AND KEY EMPLOYEES. MOST RECENTLY 2020 THE STUDY WAS PREFORMED FOR CERTAIN INDIVIDUALS - INCLUDING COMPARABLE DATA AND CONTEMPORANEOUS SUBSTANTIATION. FORM 990, PART VI, SECTION C, LINE 19 HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: IMPUTED INTEREST FROM INTERCOMPANY LOAN -68,403. PROVISION FOR INCOME TAXES -18,166. ASSOCIATED INDUSTRIES OF MA FDN INC 265 FRANKLIN ST 3RD FLOOR BOSTON MA 02110 223127535 EDUCATION MA 501(C)(3) LINE 7 AIM 1 AIM SERVICE CORPORATION 265 FRANKLIN ST 3RD FLOOR BOSTON MA 02110 042950545 SERVICE/PUBL MA AIM C 3655343 2152655 1.00000 1 1 0 0 1 1 0 0 0 0 1 0 0 0 1 1 0 1 0 0 AIM SERVICE CORPORATION A 59443 FAIR ALLOCATION AIM FOUNDATION INC A 427 FAIR ALLOCATION AIM SERVICE CORPORATION A 68403 AFR AIM FOUNDATION INC A 37253 AFR AIM SERVICE CORPORATION D 1195326 FAIR VALUE AIM FOUNDATION INC D 685026 FAIR VALUE AIM SERVICE CORPORATION N 59443 FAIR ALLOCATION AIM FOUNDATION INC N 427 FAIR ALLOCATION AIM SERVICE CORPORATION O 2220630 FAIR ALLOCATION AIM FOUNDATION INC O 53176 FAIR ALLOCATION AIM SERVICE CORPORATION Q 2776000 CASH PAYMENT AIM FOUNDATION INC Q 245000 CASH PAYMENT