Magazine Publishers of America 2008-2009 Membership Directory - (Page 26) Bylaws, Objects & Purposes ARTICLE VII BUDGET, DUES AND ASSESSMENTS 7.1 Association Budget. The total dues to be collected by the Association each fiscal year from Domestic Members shall be determined by reference to the Association’s total revenue and expense budget for such year as approved by the Board of Directors. The budget shall be divided into two categories: a) General Magazine Publishers of America (MPA) Activities; and b) Magazine Advertising Marketing Administration and Promotion Programs. (b) Domestic Member Dues Formula: The dues of each Domestic Member shall be computed by the Association as follows: (1) Each Domestic Member shall pay that percentage of the amount budgeted for General MPA Activities that equals the amount that its Combined Revenue, as herein defined, represents as a percentage of the Combined Revenue of all Domestic Members. Combined Revenue for the purpose of this section shall mean the combination of Gross Revenue Derived From Circulation and Gross Revenue Derived From Advertising, as defined in subsection 7.1(e), for the second calendar year preceding the fiscal year for which the dues are assessed. (2) Each Domestic Member shall pay that percentage of the amount budgeted for Magazine Advertising Marketing Administration and Promotion Programs that equals the amount that its Gross Revenue Derived From Advertising, as defined in subsection 7.1(e)(2), for the second calendar year preceding the beginning of the fiscal year of the Association, with respect to which the dues are assessed, represents as a percentage of the Gross Revenue Derived From Advertising of all Domestic Members for the same year. (3) A fixed dollar dues figure to be determined by the Board shall be assessed annually to each Domestic Member for each Annual published by the Domestic Member, or for such maximum number of Annuals as the Board may set. For the purpose of calculating the number of Annuals to be included in any Domestic Member’s annual dues, the Association shall use the actual number of Annuals published during the second calendar year preceding the fiscal year with respect to which the dues are assessed. The revenue derived from dues assessments on Annuals, as provided in this subsection, shall be applied to the Association’s budget for General MPA Activities and/or Magazine Advertising Marketing Administration and Promotion Programs as the Board shall determine, before calculating Domestic Member dues as provided in subsections 7.1(b)(1) and (2). (4) For purposes of subsections 7.1(b)(1) and (2), “U.S. Magazines” shall exclude Annuals, but shall include Consumer and Non-Consumer Magazines to the extent set forth in subsection 7.1(d). (c) Domestic Member Dues Limitation: In no event shall the annual dues of any Domestic Member in any fiscal year be less than a minimum set by the Board or exceed twenty percent (20%) of the total dues of all classes of membership of the Association for the applicable fiscal year. If any Domestic Member that does or would have its dues limited by the twenty percent (20%) dues limitation set forth in this subsection, acquires the stock or assets of another Domestic Member, or acquires such number of U.S. Magazines of another Domestic Member, that for the applicable fiscal year has been assessed dues by the Association, or the U.S. Magazines being transferred have resulted in dues being Assessed by the Association, equal to or exceeding one percent (1%) of the total dues of all classes of membership, the dues limitation of the acquiring Domestic Member shall increase by a percentage figure equal to the dues percentage of the acquired Domestic Member or the dues percentage attributable to the acquired U.S. Magazines. The dues of any Domestic Member, notwithstanding the acquisition of the stock or assets of one or more other Domestic Members, shall not exceed twenty-five percent (25%) of the total dues of all classes of membership. The dues limitation percentage of any Domestic Member provided for in this subsection shall be reduced upon said member’s sale of some but less than all of its U.S. Magazines to another publisher that is a Domestic Member at the time of the sale, provided that for the applicable fiscal year the U.S. Magazines being sold have resulted in dues being assessed by the Association equal to or exceeding one percent (1%) of the total dues of all classes of membership (without regard to this dues limitation). In such event, the dues limitation provided for in this subsection shall be reduced by the percentage of the dues represented by the U.S. Magazines being sold, but in no event shall the limitation be reduced below twenty percent (20%). In the event the total dues assessable 26
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