2026-02-16T15:39:55-06:00 2025-03-31 991856619 GRANT THORNTON ADVISORS LLC 757 THIRD AVENUE 9TH FLOOR NEW YORK NY 100172013 990 2024-04-01 131621786 AMERICAN ASSOCIATION OF ADVERTISING AGENCIES AMER 2128500770 25 WEST 45TH STREET 16TH FL NEW YORK NY 10036 JAMES O'DONNELL EVP FINANCE & TREASURER 2128500770 2026-02-16 1 1 SCOTT THOMPSETT P00741490 2125990100 2024 2025-03-06 01:10:19Z 4A'S JUSTIN THOMAS-COPELAND 25 WEST 45TH STREET 16TH FL NEW YORK NY 10036 19818452 0 X WWW.AAAA.ORG X 1917 NY WE CHAMPION AGENCIES, FOSTER TALENT & DRIVE INNOVATION (SEE SCHEDULE O) 30 29 70 0 0 0 0 0 15691035 15454428 1650509 1977222 2114312 2145887 19455856 19577537 26000 25074 0 0 12010337 13095763 0 0 0 6957064 6794808 18993401 19915645 462455 -338108 21397392 21746131 14130759 14753554 7266633 6992577 X THE 4AS WAS ESTABLISHED IN 1917 TO PROMOTE, ADVANCE, AND DEFEND THE INTERESTS OF OUR MEMBER AGENCIES, EMPLOYEES AND THE ADVERTISING AND MARKETING INDUSTRIES OVERALL. TODAY THE ORGANIZATION SERVES MORE THAN 600 MEMBER AGENCIES ACROSS 1,200 OFFICES (CONTINUED ON SCHEDULE O). 0 0 SEE SCHEDULE O SEE SCHEDULE O SEE SCHEDULE O THE 4AS PROVIDES COUNTLESS OTHER SERVICES, INCLUDING MANAGEMENT STUDIES, TO APPROXIMATELY 600 MEMBER COMPANIES. 0 0 0 1 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1 X 38 0 1 70 1 0 0 0 0 0 0 0 0 X 30 29 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 0 0 X JAMES O'DONNELL 2128500713 25 WEST 45TH STREET 16TH FL NEW YORK NY 10036 X MARLA KAPLOWITZ PRESIDENT & CEO 40.00 5.00 X X 958029 0 60153 ABBEY KLAASSEN CHAIR (AS OF 04/24) 1.00 0.00 X X 0 0 0 SHARON NAPIER IMMEDIATE PAST CHAIR (AS OF 04/24) 1.00 0.00 X X 0 0 0 BARRY WACKSMAN IMMEDIATE PAST CHAIR (THRU 04/24) 1.00 0.00 X X 0 0 0 CHRISTINE FRUECHTE VICE CHAIR (AS OF 09/24) 1.00 0.00 X X 0 0 0 LAURA MANESS VICE CHAIR (AS OF 09/24) 1.00 0.00 X X 0 0 0 VITA HARRIS VICE CHAIR (THRU 09/24) 1.00 0.00 X X 0 0 0 ANDREW GRAFF SECRETARY/TREASURER (AS OF 04/24) 1.00 0.00 X X 0 0 0 CHRIS BOOTHE DIRECTOR AT LARGE (AS OF 04/24) 1.00 0.00 X 0 0 0 JASON GAIKOWSKI DIRECTOR AT LARGE CX COUNCIL 1.00 0.00 X 0 0 0 AMBER GUILD DIRECTOR AT LARGE 1.00 0.00 X 0 0 0 MATT HARRINGTON DIRECTOR AT LARGE 1.00 0.00 X 0 0 0 HELEN LIN DIRECTOR AT LARGE (THRU 04/24) 1.00 0.00 X 0 0 0 KATE MACNEVIN DIRECTOR AT LARGE (THRU 10/24) 1.00 0.00 X 0 0 0 JOE MAGLIO DIRECTOR AT LARGE 1.00 0.00 X 0 0 0 TIM MALEENY DIRECTOR AT LARGE 1.00 0.00 X 0 0 0 CHANNING MARTIN DIRECTOR AT LARGE (AS OF 01/25) 1.00 0.00 X 0 0 0 LUIS MONTERO DIRECTOR AT LARGE (AS OF 04/24) 1.00 0.00 X 0 0 0 TOM O'KEEFE DIRECTOR AT LARGE (04/24-07/24) 1.00 0.00 X 0 0 0 JORGE PLASENCIA DIRECTOR AT LARGE (AS OF 01/25) 1.00 0.00 X 0 0 0 ERIN RILEY DIRECTOR AT LARGE (AS OF 04/24) 1.00 0.00 X 0 0 0 ROB SCHWARTZ DIRECTOR AT LARGE (THRU 04/24) 1.00 0.00 X 0 0 0 GINA SMITH DIRECTOR AT LARGE 1.00 0.00 X 0 0 0 ANGELA STEELE DIRECTOR AT LARGE (THRU 04/24) 1.00 0.00 X 0 0 0 STEVE WILLIAMS DIRECTOR AT LARGE & MLC CHAIR 1.00 0.00 X 0 0 0 GREG ANDERSON CENTRAL REGION DIR. (AS OF 04/24) 1.00 0.00 X 0 0 0 ANGELA TENUTA CENTRAL REGION DIRECTOR 1.00 0.00 X 0 0 0 JEFF KING CENTRAL REGION DIRECTOR 1.00 0.00 X 0 0 0 DAVID ANGELO EASTERN REGION DIRECTOR 1.00 0.00 X 0 0 0 DAISY EXPOSITO EASTERN REGION DIRECTOR 1.00 0.00 X 0 0 0 PAUL WOOLMINGTON EASTERN REGION DIR. (AS OF 04/24) 1.00 0.00 X 0 0 0 KYLE ALLEN SOUTHERN REGION DIRECTOR 1.00 0.00 X 0 0 0 MICHELLE HEADLEY SOUTHERN REGION DIRECTOR 1.00 0.00 X 0 0 0 SHARI DAY SOUTHERN REGION DIRECTOR 1.00 0.00 X 0 0 0 JOHN GALLEGOS WESTERN REGION DIR. 1.00 0.00 X 0 0 0 KAREN HUNT WESTERN REGION DIRECTOR 1.00 0.00 X 0 0 0 AARON WALTON WESTERN REGION DIRECTOR 1.00 0.00 X 0 0 0 ADAM COTUMACCIO CHIEF OPERATING OFFICER 45.00 0.00 X 439441 0 48030 JAMES O'DONNELL EVP FINANCE & TREASURER 45.00 0.00 X 296002 0 31830 ALISON PEPPER EVP GOVERNMENT RELATIONS 45.00 0.00 X 392973 0 29056 MOLLIE ROSEN EVP STRATEGY, INSIGHT, INNOVATION 45.00 0.00 X 409023 0 38651 JUAN C SUAREZ EVP MED HOLDING COMPANIES & GROWTH 45.00 0.00 X 330630 0 40123 GREGORY WALKER THRU 0624 EVP MED INDEP. AGENCIES & RETENTION 45.00 0.00 X 226829 0 18163 ASHWINI KARANDIKAR EVP MEDIA, TECH & DATA 45.00 0.00 X 421819 0 28916 ANN RUBIN EVP, MARKETING, COMM. & EVENTS 45.00 0.00 X 370066 0 35128 RUPA RAMAN VP MARKETING & COMMUNICATIONS 45.00 0.00 X 159243 0 17798 KIRA LACKS VP, EVENTS & CONFERENCES 45.00 0.00 X 146728 0 24699 CATHY BUTLER AS OF 0224 EVP, TALENT, EQUITY & LEAR. SOLUTIONS 45.00 0.00 X 243304 0 23632 MATTHEW KASINDORF SVP, BUSINESS INTELLIGENCE & INSIGHT 45.00 0.00 X 238593 0 37049 SEAN MCGLADE SVP, PROFESSIONAL & ORG DESIGN 45.00 0.00 X 218272 0 26315 KEVIN FREEMORE SVP MEDIA, TECH & DATA 45.00 0.00 X 239030 0 36330 NICOLE RIZZO SVP, BUSINESS INTELLIGENCE & INSIGHT 45.00 0.00 X 256208 0 28238 ANDREW GOLDSMITH SVP, MEMBER ENG. & DEVEL. SOLUTIONS 45.00 0.00 X 219392 0 19906 5565582 0 544017 36 0 1 0 BBH SOLUTIONS INC 121 EAST 24TH STREET NEW YORK NY 10010 IT SUPPORT 166157 1 MEMBERSHIP DUES 900099 13556748 13556748 CONFERENCES & TRAINING 900099 1331823 1331823 WEBINAR FEES 900099 244469 244469 PUBLIC. & TAPE SALES 900099 217188 217188 COUNCILS REVENUE 900099 104200 104200 15454428 1559262 1559262 1331381 0 1331381 1331381 1331381 658875 240915 417960 417960 417960 ADMIN SVCS (RELATED PARTY) 900099 730000 730000 REVENUE SHARING 900099 72867 72867 REFUNDS 900099 11639 11639 814506 19577537 16184428 0 3393109 25074 5421013 5990013 182063 845261 657413 206080 182845 1185636 60000 569621 36847 2143903 354808 1211626 188087 106143 PUBLICATION & SUBSCRIP. 433235 DUES & FEES 67702 DC INITIATIVES 35000 AWARD PROGRAMS 8465 4810 19915645 2346929 4340389 749394 761229 602867 1143306 502953 158882 3703768 3030696 825970 673072 9550086 9358277 407012 445173 6412181 4865803 21397392 21746131 3101408 3037047 3229797 5522013 7799554 6194494 14130759 14753554 X 7266633 6992577 7266633 6992577 21397392 21746131 X -338108 42681 -10800 4601 27570 X 0 1 X 1 0 1 1 0 1008854 415231 593623 1116086 1076797 39289 1578828 1538668 40160 673072 RIGHT-OF-USE ASSETS 3893881 INVESTMENT IN AD-ID 686583 SECURITY DEPOSITS 285339 4865803 LEASE LIABILITIES 4487067 DEFERRED COMPENSATION AGREEMENTS 1142930 OTHER LIABILITIES 564497 6194494 X 19858874 42681 -10800 249456 281337 19577537 0 19577537 20167519 251874 251874 19915645 0 19915645 PART X, LINE 2: FIN 48 FOOTNOTE THE AAAA FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE FASB ESTABLISHED CRITERION THAT AN INDIVIDUAL TAX POSITION MUST MEET FOR SOME OR ALL OF THE BENEFITS OF THAT POSITION TO BE RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS. THIS STANDARD REQUIRES THE ASSOCIATION TO DETERMINE WHETHER A TAX POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPLICABLE TAXING AUTHORITY, INCLUDING RESOLUTION OF ANY RELATED APPEALS OR LITIGATION PROCESSES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE AAAA IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(6) OF THE U.S. INTERNAL REVENUE CODE (THE "CODE"), THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE AAAA HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE AAAA HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND, TO REVIEW OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUES OF AAAA SUBSIDIARY REPORTED ON SEPARATE FORM 990 249,456. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES OF AAAA SUBSIDIARY REPORTED ON SEPARATE FORM 990 251,874. 1 THE ADVERTISING COUNCIL INC 815 SECOND AVENUE NEW YORK NY 10017 130417693 501(C)(3) 25000 0 SUPPORT OF THE ADVERTISING COUNCIL 1 0 PROCEDURE FOR MONITORING THE USE OF GRANT FUNDS IN THE U.S. 4AS PERIODICALLY SPONSORS ORGANIZATIONS SO LONG AS MANAGEMENT DETERMINES THAT THOSE ORGANIZATIONS HAVE GOALS AND OBJECTIVES THAT ALIGN WITH 4AS TAX-EXEMPT MISSION. AAAA ROUTINELY CONDUCTS BUSINESS WITH THESE ORGANIZATIONS AND RECEIVES ASSURANCES THAT GIFTED FUNDS ARE USED FOR THEIR INTENDED PURPOSES. X X 1 1 X X X X 0 0 0 MARLA KAPLOWITZ PRESIDENT & CEO 627645 0 322400 0 7984 0 10350 0 49803 0 1018182 0 0 0 ADAM COTUMACCIO CHIEF OPERATING OFFICER 334441 0 105000 0 0 0 10350 0 37680 0 487471 0 0 0 ASHWINI KARANDIKAR EVP MEDIA, TECH & DATA 325819 0 96000 0 0 0 10350 0 18566 0 450735 0 0 0 MOLLIE ROSEN EVP STRATEGY, INSIGHT, INNOVATION 315980 0 93000 0 43 0 10350 0 28301 0 447674 0 0 0 ALISON PEPPER EVP GOVERNMENT RELATIONS 302948 0 90000 0 25 0 10350 0 18706 0 422029 0 0 0 ANN RUBIN EVP, MARKETING, COMM. & EVENTS 282934 0 87000 0 132 0 7111 0 28017 0 405194 0 0 0 JUAN C SUAREZ EVP MED HOLDING COMPANIES & GROWTH 252130 0 78500 0 0 0 10293 0 29830 0 370753 0 0 0 JAMES O'DONNELL EVP FINANCE & TREASURER 248002 0 48000 0 0 0 8850 0 22980 0 327832 0 0 0 NICOLE RIZZO SVP, BUSINESS INTELLIGENCE & INSIGHT 232076 0 24000 0 132 0 7779 0 20459 0 284446 0 0 0 MATTHEW KASINDORF SVP, BUSINESS INTELLIGENCE & INSIGHT 206550 0 32000 0 43 0 7414 0 29635 0 275642 0 0 0 KEVIN FREEMORE SVP MEDIA, TECH & DATA 208903 0 30000 0 127 0 7560 0 28770 0 275360 0 0 0 CATHY BUTLER AS OF 0224 EVP, TALENT, EQUITY & LEAR. SOLUTION 233304 0 10000 0 0 0 0 0 23632 0 266936 0 0 0 GREGORY WALKER THRU 0624 EVP MED INDEP. AGENCIES & RETENTION 151786 0 75000 0 43 0 4000 0 14163 0 244992 0 0 0 SEAN MCGLADE SVP, PROFESSIONAL & ORG DESIGN 188772 0 29500 0 0 0 5602 0 20713 0 244587 0 0 0 ANDREW GOLDSMITH SVP, MEMBER ENG. & DEVEL. SOLUTIONS 195392 0 24000 0 0 0 5400 0 14506 0 239298 0 0 0 RUPA RAMAN VP MARKETING & COMMUNICATIONS 150443 0 8800 0 0 0 4764 0 13034 0 177041 0 0 0 KIRA LACKS VP, EVENTS & CONFERENCES 141728 0 5000 0 0 0 4650 0 20049 0 171427 0 0 0 PART I, LINE 1A TAX INDEMNIFICATION AND GROSS-UP PAYMENTS THE FOLLOWING INDIVIDUALS RECEIVED TAX GROSS-UP PAYMENTS IN 2024. THESE AMOUNTS ARE INCLUDED IN THEIR TAXABLE WAGES: MARLA KAPLOWITZ $7,984 MOLLIE ROSEN $43 ALISON PEPPER $25 ANN RUBIN $132 NICOLE RIZZO $132 MATTHEW KASINDORF $43 KEVIN FREEMORE $127 GREGORY WALKER $43 HEALTH OR SOCIAL CLUB DUES IN CALENDAR YEAR 2024, MARLA KAPLOWITZ RECEIVED A REIMBURSMENT FOR HEALTH CLUB DUES THAT WAS TAXABLE TO HER AND INCLUDED IN HER TAXABLE WAGES. FORM 990, PART I, LINE 1 (CONTINUED) SO OUR MEMBERS STAY RELEVANT & POSITIONED TO COMPETE. WE ARE DEDICATED TO, AND VESTED IN, OUR MEMBERS' SUCCESS, JUST AS THEY ARE DEDICATED TO HELPING BRANDS CREATE, DISTRIBUTE, AND MEASURE EFFECTIVE AND INSIGHTFUL ADVERTISING AND MARKETING. AND WE CHAMPION THE INFINITE POWER OF CREATIVITY AND VALUE AGENCIES BRING IN DRIVING BUSINESS GROWTH AND POWERFUL CULTURAL CHANGE. FORM 990, PART III, LINE 1 - ORGANIZATION'S MISSION (CONTINUED) WHICH HELP DIRECT MORE THAN 85% OF TOTAL U.S. ADVERTISING SPEND. THE 4AS IS COMMITTED TO PROTECTING THE BEST INTERESTS OF ITS MEMBERS, THEIR EMPLOYEES AND THE INDUSTRY AT LARGE. ITS BENEFITS DIVISION INSURES MORE THAN 160,000 AGENCY PROFESSIONALS, AND THE 4AS DC LOCATION ADVOCATES FOR POLICIES THAT BEST SUPPORT A THRIVING ADVERTISING INDUSTRY. WITH ITS BEST IN CLASS LEARNING AND CAREER DEVELOPMENT PROGRAMS, THE 4AS AND ITS FOUNDATION FUEL A ROBUST INCLUSIVE PIPELINE OF TALENT FOR ITS MEMBERS AND THE MARKETING AND MEDIA INDUSTRY, FOSTERING THE NEXT GENERATION OF LEADERS. FORM 990, PART III, LINE 4A (CONTINUED): WITH PARTICIPATING 4AS MEMBERS, 4AS OPERATES VARIOUS COUNCILS COMMITTED TO PROVIDING LEADERSHIP AND INITIATIVES THAT FOSTER THE EFFECTIVENESS OF ITS MEMBERS AND THE OVERALL ADVERTISING INDUSTRY IN VARIOUS GEOGRAPHICAL AREAS NATIONALLY. THESE OBJECTIVES ARE ACHIEVED THROUGH THE PROVISION OF PROGRAMS IN: MARKETING, COMMUNICATIONS, TRAINING AND DEVELOPMENT, EXECUTIVE LEADERSHIP ENRICHMENT, CREATIVE THOUGHT-LEADERSHIP AND EXECUTIVE NETWORKING OPPORTUNITIES. THROUGH THESE EFFORTS, THE COUNCILS FACILITATE MAINTAINING A STRONG, VIBRANT AND DIVERSE ADVERTISING COMMUNITY ATTRACTIVE FOR ADVERTISERS, ADVERTISING AGENCIES AND YOUNG ADVERTISING PROFESSIONALS. SINCE THE COUNCILS ARE NOT SEPARATELY INCORPORATED AND OPERATE UNDER THE AUSPICES OF THE AAAA, THEIR ACTIVITIES ARE INCLUDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS, HOWEVER, THEIR REVENUES AND EXPENSES ARE DISCRETELY PRESENTED ON THE ACCOMPANYING CONSOLIDATED STATEMENTS OF ACTIVITIES TO FACILITATE STEWARDSHIP. FORM 990, PART III, LINE 4B (CONTINUED): EDUCATION: 4AS PROVIDES A LIBRARY WITH UNLIMITED INFORMATION PERTAINING TO PRODUCTS AND COMPANIES; AIDS IN SETTING INDUSTRY STANDARDS; PUTS OUT MANY EDUCATIONAL PUBLICATIONS; AND CONDUCTS TRAINING, SEMINARS, AND MEETINGS. ACCESS CONSUMER INSIGHTS AND MEDIA HABITS, TRENDS IN MEDIA, INTERNATIONAL CONTENT, 10 INDUSTRY VERTICALS, AND MULTIPLE RESEARCH DATABASES. FORM 990, PART III, LINE 4C (CONTINUED): THE 4AS WASHINGTON, D.C. LOCATION ADVOCATES ON BEHALF OF THE ADVERTISING AGENCY COMMUNITY ON ALL ISSUES THAT COULD AFFECT AGENCIES, FROM NEW TAXES ON DIGITAL ADVERTISING TO PRIVACY LAW CHANGES THAT COULD HINDER AGENCIES' ABILITY TO FIND THE BEST AUDIENCES FOR THEIR CLIENTS. FORM 990, PART V, LINE 2A NUMBER OF EMPLOYEES THE ASSOCIATION REPORTED 70 EMPLOYEES ON ITS 2024 FORM W-3; HOWEVER, THE ASSOCIATION NOTES THAT SOME OF THOSE EMPLOYEES PROVIDED SERVICES EXCLUSIVELY TO RELATED ORGANIZATIONS, AAAA BENEFITS, INC. AND TO AN UNRELATED PARTY, THE COALITION FOR HEALTHCARE COMMUNICATION. THE COSTS OF THOSE SERVICES WERE REIMBURSED IN FULL BY THE DESIGNATED ORGANIZATIONS. PLEASE REFER TO SCHEDULE R FOR MORE DETAIL. FORM 990, PART VI, SECTION A, LINE 6 MEMBERS OR STOCKHOLDERS THE AMERICAN ASSOCIATION OF ADVERTISING AGENCIES, INC. IS A TRADE ASSOCIATION WHOSE MEMBERS REPRESENT A WIDE RANGE OF DISCIPLINES WITHIN THE MARKETING COMMUNICATIONS LANDSCAPE. MEMBERS PARTICIPATE IN SHAPING THEIR ORGANIZATION AND ENTIRE INDUSTRY THROUGH THEIR DEDICATED WORK ON COMMITTEES, REGIONS, COUNCILS, AND FORUMS AS WELL AS SERVING ON THE NATIONAL BOARD. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OR STOCKHOLDERS WHO MAY ELECT THE CHAIR, SECRETARY-TREASURER, AND THE IMMEDIATE PAST CHAIR SHALL EACH HOLD OFFICE FOR TWO YEARS AND UNTIL THEIR SUCCESSORS HAVE BEEN ELECTED AND QUALIFIED. THE CO-VICE CHAIRS SHALL HOLD OFFICE FOR ONE YEAR AND UNTIL HIS OR HER SUCCESSOR HAS BEEN ELECTED AND QUALIFIED. DIRECTORS-AT-LARGE SHALL HOLD OFFICE FOR A TERM OF THREE YEARS AND UNTIL SUCH TIME AS THEIR SUCCESSORS HAVE BEEN DULY ELECTED AND QUALIFIED. REGIONAL DIRECTORS SHALL HOLD OFFICE FOR A TERM OF ONE YEAR AND UNTIL SUCH TIME AS THEIR SUCCESSORS HAVE BEEN DULY ELECTED AND QUALIFIED. TERMS OF THE DIRECTORS-AT-LARGE SHALL BE STAGGERED SUCH THAT AS NEARLY AS POSSIBLE, ONE-THIRD OF THE DIRECTORS-AT-LARGE SHALL BE ELECTED EACH YEAR. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS SUBJECT TO APPROVAL AT THE ANNUAL MEETING OF THE MEMBERS, THE REGULAR MEMBERS SHALL ELECT OPEN SEATS ON THE BOARD OTHER THAN THE REGIONAL DIRECTORS, AND THE REGULAR MEMBERS OF THE RELEVANT REGION SHALL ELECT THE REGIONAL DIRECTORS. THE CO-VICE CHAIRS SHALL BE ELECTED AT THE ANNUAL MEETING OF THE MEMBERS IN YEARS NOT HAVING AN ELECTION OF THE CHAIR. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS THE FORM 990 IS PREPARED BY AN INDEPENDENT TAX FIRM, GRANT THORNTON ADVISORS LLC, IN CONJUNCTION WITH THE ASSOCIATION'S FINANCIAL DEPARTMENT. ONCE COMPLETED, A DRAFT OF THE 2024 FORM 990 IS SENT TO THE MEMBERS OF THE BOARD OF DIRECTORS PRIOR TO ITS FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY MONITORING AND ENFORCEMENT ALL BOARD MEMBERS, OFFICERS AND EMPLOYEES ARE REQUIRED ANNUALLY TO DISCLOSE ANY CONFLICTS OF INTEREST THAT MAY ARISE BY VIRTUE OF THEIR EMPLOYMENT OR BOARD SERVICE WITH THE ASSOCIATION. EACH INDIVIDUAL IS REQUIRED TO SIGN THE CODE OF CONDUCT POLICY ANNUALLY (WHICH ATTESTS TO THEIR INDEPENDENCE). WITHIN THE CODE OF CONDUCT POLICY THERE IS A REQUIREMENT TO DIVULGE ANY CONFLICT. THE SIGNED DOCUMENTS ARE RETAINED BY HUMAN RESOURCES AND THE BOARD SECRETARY. POTENTIAL CONFLICTS OF INTEREST ARE INVESTIGATED IMMEDIATELY. FORM 990, PART VI, SECTION B, LINE 15A PROCESS USED TO DETERMINE EXECUTIVE COMPENSATION THE ASSOCIATION HAS ESTABLISHED A COMPENSATION COMMITTEE TO DETERMINE THE COMPENSATION OF THE TOP MANAGEMENT OFFICIAL. THE COMPENSATION COMMITTEE MEETS ANNUALLY TO APPROVE BOTH RAISES AND BONUSES. THE OVERALL SALARY AND BENEFIT EXPENSES FOR THE NEXT FISCAL YEAR ARE PRESENTED TO THE FULL BOARD OF DIRECTORS IN JANUARY OR MAY. THE BOARD OF DIRECTORS IS REQUIRED TO APPROVE THE BUDGET, BEFORE SALARY INCREASES GO INTO EFFECT. NONE OF THE OFFICERS AND/OR KEY EMPLOYEES MAY HAVE INPUT INTO THEIR OWN COMPENSATION PACKAGES. THE LAST COMPENSATION REVIEW WAS PERFORMED IN THE 4TH QUARTER OF 2022. FORM 990, PART VI, SECTION C, LINE 19 HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC THE ASSOCIATION MAKES ITS CONSTITUTION AVAILABLE TO THE PUBLIC ON ITS WEBSITE. THE ASSOCIATION'S CONFLICT OF INTEREST POLICY, EXEMPTION APPLICATION, BYLAWS, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AND AT MANAGEMENT'S DISCRETION. FORM 990, PART VII COMPENSATION THE AMERICAN ASSOCIATION OF ADVERTISING AGENCIES, INC. ALLOCATES A PERCENTAGE OF ITS EXECUTIVE SALARIES TO A RELATED TAXABLE CORPORATION, AAAA BENEFITS, INC. FOR PURPOSES OF PART VII AND SCHEDULE J, ALL SALARY IS BEING REPORTED TO THE ASSOCIATION SINCE IT ISSUES W-2 FORMS TO THE OFFICERS. FOR THE YEAR ENDING 03/31/2025, THE ASSOCIATION ALLOCATED SALARIES EQUAL TO APPROXIMATELY $150,000 TO AAAA BENEFITS, INC. FORM 990, PART XI, LINE 9: NET PERIODIC PENSION BENEFIT 27,570. 4A'S WORKPLACE ENLIGHTENMENT LLC 25 WEST 45TH STREET 16TH FL NEW YORK NY 10036 EDUCATION NY 0 0 AAAA AAAA FOUNDATION 25 WEST 45TH STREET 16TH FL NEW YORK NY 10036 133949950 SCHOLARSHIPS NY 501(C)(3) LINE 7 AAAA 1 COALITION FOR HEALTHCARE COMMUNICATION INC 25 WEST 45TH STREET 16TH FL NEW YORK NY 10036 133746545 INFO EXCHANGE NY 501(C)(6) AAAA 1 ADVERTISING DIGITAL IDENTIFICATION LLC 25 WEST 45TH STREET 16TH FL NEW YORK NY 10036 061639073 DIGITAL ID'S NY N/A RELATED 2984557 1459804 0 1 0.50000 AAAA BENEFITS INC 11020 DAVID TAYLOR DRIVE SUITE 305 CHARLOTTE NC 28262 133439015 EMP BENEFITS NC AAAA C 3468980 5917488 1.00000 1 AAAA INSURANCE COMPANY LTD 11020 DAVID TAYLOR DRIVE SUITE 305 CHARLOTTE NC 28262 980207541 INSURANCE BD AAAA C 19939250 29272482 1.00000 1 AAAA GROUP INSURANCE TRUST 11020 DAVID TAYLOR DRIVE SUITE 305 CHARLOTTE NC 28262 133685892 SUPPORT SVCS NC AAAA T 1.00000 1 0 0 0 0 0 1 0 0 0 0 0 1 0 1 1 0 1 0 1 AAAA BENEFITS INC L 150000 FMV AAAA BENEFITS INC O 56000 FMV AAAA BENEFITS INC S 184000 FMV AAAA BENEFITS INC F 300000 FMV AAAA FOUNDATION S 648387 FMV AAAA FOUNDATION L 530000 FMV AAAA INSURANCE COMPANY LTD F 13000 FMV ADVERTISING DIGITIAL IDENTIFICATION LLC S 950000 FMV SCHEDULE R, PART V, LINE 2 THE ASSOCIATION DISCLOSES EIGHT TRANSACTIONS ON SCHEDULE R. 1) THE ASSOCIATION IS REIMBURSED BY AAAA BENEFITS FOR A PERCENTAGE OF THE SALARY COSTS OF SIX EMPLOYEES, AS WELL AS A PERCENTAGE OF LEGAL AND PAYROLL COSTS. THE ASSOCIATION DOES NOT ASSESS ANY MARK UP ON THESE EXPENSES; THEY ARE REIMBURSED AT COST AND THE TOTAL REIMBURSED FOR THE YEAR ENDING MARCH 31, 2025, WAS $150,000 FOR ADMINISTRATIVE AND SUPPORT SERVICES. 2) THE ASSOCIATION IS ALSO REIMBURSED $56,000 FOR THE YEAR ENDING MARCH 31, 2025 FOR EXPENSES THAT DEAL WITH SALARIES AND EMPLOYEE BENEFITS. 3) BENEFITS MAINTAINS AN INCENTIVE COMPENSATION AGREEMENT, WHICH PROVIDES FOR DISCRETIONARY PAYMENTS TO CERTAIN EMPLOYEES DETERMINED BY THE AAAA MANAGEMENT BASED UPON THE RECOMMENDATION OF BENEFITS' SENIOR MANAGEMENT. ACCORDINGLY, THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS INCLUDE AN EXPENSE OF APPROXIMATELY $184,000 FOR SUCH PAYMENTS DURING THE FISCAL YEARS ENDED MARCH 31, 2025. 4) THE ASSOCIATION RECEIVED A DIVIDEND FROM AAAA BENEFITS IN THE AMOUNT OF $300,000. 5) THE ASSOCIATION IS REIMBURSED BY AAAA FOUNDATION FOR CERTAIN ADMINISTRATIVE, PROGRAMMATIC AND SUPPORT SERVICES. THESE EXPENSES ARE REIMBURSED AT COST AND THE TOTAL REIMBURSED FOR THE YEAR ENDING MARCH 31, 2025, WAS $648,387. 6) DURING FISCAL YEAR 2025, THE ASSOCIATION WAS REIMBURSED $530,000 FOR ADMINISTRATIVE AND PROGRAMMATIC SERVICES PROVIDED TO THE AAAA FOUNDATION. 7) DURING FISCAL YEAR 2025, THE ASSOCIATION RECEIVED DIVIDENDS FROM AAAA INSURANCE COMPANY, LTD IN THE AMOUNT OF $13,000. 8) THE ASSOCIATION INVESTS IN ADVERTISING DIGITAL IDENTIFICATION LLC; THE DISTRIBUTION FROM THIS INVESTMENT FOR THE YEAR ENDING MARCH 31, 2025, WAS $950,000.