2020-10-22T11:50:22-05:00 2019-12-31 420714325 RSM US LLP 2021 L STREET NW 400 WASHINGTON DC 20036 990 2019-01-01 530173915 AMERICAN WATERWAYS OPERATORS INC AMER 7038419300 801 N QUINCY ST NO 500 ARLINGTON VA 222031708 JENNIFER CARPENTER PRESIDENT AND CEO 7038419300 2020-10-22 1 SARA SMITH P01332734 2022932200 2020-10-21 138.88.173.105 2020-10-22 11:49:49 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 C7C937CA623DFB7884503BA84EC9B5C24C7C8E34 2019 2021-04-22 16:20:28Z JENNIFER CARPENTER 801 N QUINCY ST NO 500 ARLINGTON VA 222031708 7939355 0 X WWW.AMERICANWATERWAYS.COM X 1944 VA TRADE ASSOCIATION OF THE TUGBOAT, TOWBOAT AND BARGE INDUSTRY. 54 54 30 150 0 0 0 0 7087857 7347506 218819 134622 55500 55819 7362176 7537947 152250 181014 0 0 4480435 4789631 0 0 0 2546436 2974660 7179121 7945305 183055 -407358 7700352 8273893 2949945 3366128 4750407 4907765 X THE AMERICAN WATERWAYS OPERATORS REPRESENTS THE COMPANIES THAT OWN AND OPERATE THE TUGBOATS, TOWBOATS AND BARGES SERVING THE RIVERS, COASTS, GREAT LAKES AND HARBORS OF THE UNITED STATES. AWO PROMOTES THE INDUSTRY'S VALUE TO THE NATION AS A DRIVER OF THE U.S. ECONOMY WITH A POSITIVE IMPACT ON THE AMERICAN QUALITY OF LIFE, MOVING VITAL COMMODITIES SAFELY, PROVIDING FAMILY-WAGE JOBS, REDUCING AIR AND WATER POLLUTION, RELIEVING HIGHWAY CONGESTION, AND PROTECTING HOMELAND SECURITY. 0 0 ADVOCACYSERVE AS THE LEADING NATIONAL ADVOCATE FOR THE TUGBOAT, TOWBOAT AND BARGE INDUSTRY WITH THE U.S. CONGRESS AND FEDERAL AGENCIES. AWO PROMOTES THE INDUSTRY'S VALUE TO THE NATION AS A DRIVER OF THE U.S. ECONOMY THAT PROVIDES FAMILY-WAGE JOBS AND MOVES THE NATION'S FREIGHT SAFELY WHILE REDUCING AIR AND WATER POLLUTION, RELIEVING TRAFFIC CONGESTION, AND PROTECTING HOMELAND SECURITY. AWO STAFF AND MEMBERS ADVOCATE FOR SOUND LEGISLATION, REGULATION AND PUBLIC POLICY THAT ENABLES THE INDUSTRY TO CONTINUE TO PROVIDE JOBS AND MOVE THE NATION'S COMMERCE EFFICIENTLY. MEMBERSHIP MEETINGSAWO CONDUCTS MEETINGS AT THE NATIONAL AND REGIONAL LEVELS TO EDUCATE MEMBERS ON PUBLIC POLICY ISSUES FACING THE TUGBOAT, TOWBOAT AND BARGE INDUSTRY AND PROMOTE SAFETY, SECURITY AND ENVIRONMENTAL STEARDSHIP. IN 2019 AWO HELD TWO NATIONAL CONVENTIONS ATTENDED BY APPROXIMATELY 180-220 MEMBERS AT EACH, PLUS 4 REGIONAL AND SAFETY MEETINGS WITH ATTENDANCE AT EACH RANGING FROM APPROXIMATELY 55-400 MEMBERS. AWO ALSO HELD A SERIES OF SMALLER REGIONAL ROUNDTABLE GATHERINGS THROUGHOUT THE SUMMER WITH ATTENDANCE AT EACH RANGING FROM 13-70 MEMBERS. SAFETY AND ENVIRONMENTAL STEWARDSHIPAWO IS THE LEADING NATIONAL ADVOCATE FOR THE U.S. TUGBOAT, TOWBOAT AND BARGE INDUSTRY, WHICH SERVES THE NATION AS THE SAFEST AND MOST ENVIRONMENTALLY RESPONSIBLE MODE OF FREIGHT TRANSPORTATION. SINCE 1994, THE AWO RESPONSIBLE CARRIER PROGRAM (R), A COAST GUARD-ACCEPTED SAFETY MANAGEMENT SYSTEM, HAS PROVIDED A FRAMEWORK FOR MEMBER COMPANIES TO DEVELOP COMPANY-SPECIFIC SAFETY AND ENVIRONMENTAL POLICIES AND PROGRAMS DESIGNED TO CONTINUOUSLY IMPROVE SAFETY PERFORMANCE. AWO ALSO PROVIDES TANGIBLE SAFETY RESOURCES FOR MEMBERS AND CONVENES ITS INTERREGION AND COASTAL SAFETY COMMITTEES BIANNUALLY TO PROVIDE FORUMS FOR INDUSTRY SAFETY PROFESSIONALS AND GOVERNMENT PARTNERS TO SHARE INFORMATION AND LEARN ABOUT TIMELY SAFETY TOPICS. FURTHERMORE, FOR 25 YEARS, THE COAST GUARD-AWO SAFETY PARTNERSHIP HAS CREATED QUALITY ACTION TEAMS TO ENHANCE MARINE SAFETY AND ENVIRONMENTAL PROTECTION IN SUCH AREAS AS PREVENTING CREW FATALITIES, PROMOTING BEST PRACTICES TO PREVENT TANK BARGE AND TOWING VESSEL OIL SPILLS, DEVELOPING CYBER RISK MANAGEMENT BEST PRACTICES, AND ENHANCING AIDS TO NAVIGATION, AMONG OTHERS. 0 0 1 1 0 0 0 0 0 1 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 58 0 1 30 1 0 0 0 0 1 1 0 0 0 X 54 54 1 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X AL ROMANO 7038419300 801 N QUINCY ST NO 500 ARLINGTON VA 222031708 SCOTT MERRITT CHAIRMAN (AS OF 4/19) 5.00 0.00 X X 0 0 0 ART MEAD VICE CHAIRMAN (AS OF 4/19) 5.00 0.00 X X 0 0 0 CLARK TODD TREASURER (AS OF 4/19) 5.00 0.00 X X 0 0 0 TOM MARIAN IMMED. PAST CHAIR (AS OF 4/19) 5.00 0.00 X X 0 0 0 DARIN ADRIAN DIRECTOR 1.00 0.00 X 0 0 0 BOB ALDRICH DIRECTOR 1.00 0.00 X 0 0 0 SHAWN BENNETT DIRECTOR 1.00 0.00 X 0 0 0 ADAM BINSFELD DIRECTOR 1.00 0.00 X 0 0 0 MARK BOURGEOIS DIRECTOR 1.00 0.00 X 0 0 0 TODD CLOWER DIRECTOR 1.00 0.00 X 0 0 0 MARTIN CURTIN DIRECTOR 1.00 0.00 X 0 0 0 ASHLEY DANIELSON DIRECTOR 1.00 0.00 X 0 0 0 JC DANN DIRECTOR 1.00 0.00 X 0 0 0 STEPHEN DANN DIRECTOR 1.00 0.00 X 0 0 0 ZDAVE DELOACH DIRECTOR 1.00 0.00 X 0 0 0 MATT DEVALL DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL ECKART DIRECTOR (AS OF 4/19) 1.00 0.00 X 0 0 0 DEREK EGAN DIRECTOR (AS OF 4/19) 1.00 0.00 X 0 0 0 MIKE ELLIS DIRECTOR 1.00 0.00 X 0 0 0 JIM FLETCHER DIRECTOR 1.00 0.00 X 0 0 0 ED GRIMM DIRECTOR 1.00 0.00 X 0 0 0 CATHY HAMMOND DIRECTOR 1.00 0.00 X 0 0 0 ROGER HARRIS DIRECTOR (AS OF 4/19) 1.00 0.00 X 0 0 0 CHAS HAUN DIRECTOR 1.00 0.00 X 0 0 0 ED HOGAN DIRECTOR (AS OF 4/19) 1.00 0.00 X 0 0 0 BRIAN HUGHES DIRECTOR 1.00 0.00 X 0 0 0 MOLLY ISNARDI DIRECTOR 1.00 0.00 X 0 0 0 RICK IULIUCCI DIRECTOR 1.00 0.00 X 0 0 0 JEFF KEIFER DIRECTOR 1.00 0.00 X 0 0 0 KEITH KIRKEIDE DIRECTOR 1.00 0.00 X 0 0 0 FRANCES KUEHNE DIRECTOR 1.00 0.00 X 0 0 0 ERIK LARSEN DIRECTOR 1.00 0.00 X 0 0 0 GEORGE LEAVELL DIRECTOR 1.00 0.00 X 0 0 0 HUGH MCCRORY DIRECTOR 1.00 0.00 X 0 0 0 SARAH PERRY MCGEE DIRECTOR 1.00 0.00 X 0 0 0 MARIO MUNOZ DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL MYERS DIRECTOR (AS OF 4/19) 1.00 0.00 X 0 0 0 DAN NUTT DIRECTOR (AS OF 4/19) 1.00 0.00 X 0 0 0 DAVE O'LOUGHLIN DIRECTOR (AS OF 4/19) 1.00 0.00 X 0 0 0 JEFF PARKER DIRECTOR 1.00 0.00 X 0 0 0 LARRY PERRYMAN DIRECTOR 1.00 0.00 X 0 0 0 TIM POWER DIRECTOR 1.00 0.00 X 0 0 0 MIKE REAGOSO DIRECTOR 1.00 0.00 X 0 0 0 BRUCE REED DIRECTOR 1.00 0.00 X 0 0 0 CHRIS SENNER DIRECTOR 1.00 0.00 X 0 0 0 KAREN SHOOT DIRECTOR 1.00 0.00 X 0 0 0 JEFF SLESINGER DIRECTOR (AS OF 4/19) 1.00 0.00 X 0 0 0 MARK SMITH DIRECTOR 1.00 0.00 X 0 0 0 PATRICK SMITH DIRECTOR (AS OF 4/19) 1.00 0.00 X 0 0 0 MATT STUMP DIRECTOR 1.00 0.00 X 0 0 0 KELLY TEICHMAN DIRECTOR 1.00 0.00 X 0 0 0 PAUL TOBIN DIRECTOR 1.00 0.00 X 0 0 0 DEL WILKINS DIRECTOR 1.00 0.00 X 0 0 0 MATT WOODRUFF DIRECTOR 1.00 0.00 X 0 0 0 THOMAS ALLEGRETTI PRESIDENT & CEO OF AWO 38.00 2.00 X 564680 0 199732 MARY ANASTACIO DIRECTOR - FINANCE 35.70 0.00 X 116723 0 32773 JENNIFER CARPENTER EXEC VP & COO OF AWO 40.00 0.00 X 458090 0 123134 LYNN MUENCH SR VP-REGIONAL ADVOCACY OF AWO 40.00 0.00 X 216171 0 86674 CHARLES COSTANZO VP-PACIFIC REGION OF AWO 40.00 0.00 X 168354 0 34715 CRAIG MONTESANO VP-LEG. AFFAIRS OF AWO 40.00 0.00 X 199650 0 23468 CARMINA SMITH VP-OPS & ADMIN OF AWO 40.00 0.00 X 163743 0 45966 JOE MANION DIRECTOR - POLITICAL AFFAIRS 40.00 0.00 X 140013 0 20809 BEN LERNER VP - PUBLIC AFFAIRS & COMMUNICATION 40.00 0.00 X 138441 0 29428 2165865 0 596699 16 0 1 0 THOMPSON & COBURN 1909 K STREET NW 600 WASHINGTON DC 200061600 LEGAL 179042 K & L GATES 1601 K STREET NW WASHINGTON DC 200061600 LEGAL 102511 2 MEMBERSHIP DUES 900099 6952935 6952935 SPECIAL PROJECTS 900099 208941 208941 SPONSORSHIPS 900099 106370 106370 MANAGEMENT SERVICES 900099 74175 74175 MEETINGS 900009 5085 5085 7347506 90714 90714 445316 401408 43908 43908 43908 MISCELLANEOUS 900099 43819 43819 75TH ANNIVERSARY BOOK 900099 12000 12000 55819 7537947 7241136 0 296811 181014 1817398 2389524 80822 272559 229328 62637 27598 20401 172990 105192 144582 502084 225084 763569 5225 146682 64739 SPECIAL PROJECTS EXPENS 272467 SURGE EXPENDITURES 159375 DUES & SUBSCRIPTIONS 126860 STRATEGIC COMMUNICATION 106678 68497 7945305 431248 51036 650481 456872 209567 169016 130031 156789 1466889 1146313 367556 320576 3999943 4579092 1911526 2540512 7700352 8273893 272849 342016 522495 256850 38218 88288 2116383 2678974 2949945 3366128 X 4750407 4907765 4750407 4907765 7700352 8273893 -407358 564716 0 X X 0 1 X 1 0 AMERICAN WATERWAYS OPERATORS PAC 801 NORTH QUINCY ST 500 ARLINGTON VA 22203 126500 0 0 1 6952935 757769 -3131021 -2373252 347647 -2720899 PART I-A, LINE 1: MAKING POLITICAL EXPENDITURES THROUGH A CONNECTED POLITICAL ACTION COMMITTEE (PAC). ADDITIONALLY, AWO ACTS AS A COLLECTING AGENT FOR CONTRIBUTIONS MADE TO ITS PAC, IN ACCORDANCE WITH FEDERAL ELECTION LAW. 320610 259039 61571 681336 843126 -161790 464943 44148 420795 320576 SECURITY DEPOSITS 80340 DEFERRED COMPENSATION INVESTMENT 2460172 2540512 DEFERRED COMPENSATION PAYABLE 2460172 OBLIGATION FOR LEASES 20725 DEFERRED RENT 151078 DEFERRED LEASE INCENTIVE LIABILITY 46999 2678974 8254528 564716 172266 736982 7517546 20401 20401 7537947 8053116 128212 128212 7924904 20401 20401 7945305 PART XI, LINE 2D - OTHER ADJUSTMENTS: PAC CONTRIBUTIONS 170,794. LOSS FROM SALE OF ASSET 1,472. PART XII, LINE 2D - OTHER ADJUSTMENTS: PAC EXPENSES 126,740. LOSS FROM SALE OF ASSET 1,472. 1 AMERICAN MARITIME PARTNERSHIP 1601 K STREET NW WASHINGTON DC 20006 462571977 501(C)6 104000 PROGRAM SUPPORT COAST GUARD FOUNDATION 394 TAUGWONK ROAD STONINGTON CT 06378 042899862 501(C)3 50000 PROGRAM SUPPORT & SPONSORSHIP COALITION TO PROTECT THE MISSOURI RIVER 519 W 9TH STREET HERMAN MO 65041 431926331 501(C)6 12000 PROGRAM SUPPORT 1 2 PART I, LINE 2: THE ORGANIZATION MONITORS THE USE OF GRANT FUNDS WITH ACTIVE STAFF INVOLVEMENT AND EVENT PARTICIPATION. X X X X X 0 1 0 THOMAS ALLEGRETTI PRESIDENT & CEO OF AWO 391419 0 154338 0 18923 0 156916 0 48691 0 770287 0 20454 0 MARY ANASTACIO DIRECTOR - FINANCE 96304 0 19800 0 619 0 5918 0 29015 0 151656 0 0 0 JENNIFER CARPENTER EXEC VP & COO OF AWO 320980 0 130000 0 7110 0 96800 0 31861 0 586751 0 0 0 LYNN MUENCH SR VP-REGIONAL ADVOCACY OF AWO 178520 0 34338 0 3313 0 50794 0 41741 0 308706 0 20454 0 CHARLES COSTANZO VP-PACIFIC REGION OF AWO 141436 0 25000 0 1918 0 8235 0 28880 0 205469 0 0 0 CRAIG MONTESANO VP-LEG. AFFAIRS OF AWO 174511 0 22000 0 3139 0 10103 0 15765 0 225518 0 0 0 CARMINA SMITH VP-OPS & ADMIN OF AWO 127200 0 34338 0 2205 0 28569 0 19979 0 212291 0 20454 0 JOE MANION DIRECTOR - POLITICAL AFFAIRS 119309 0 20000 0 704 0 6945 0 16264 0 163222 0 0 0 BEN LERNER VP - PUBLIC AFFAIRS & COMMUNICATION 122664 0 15000 0 777 0 3701 0 28127 0 170269 0 0 0 PART I, LINE 4B THOMAS ALLEGRETTI, AND JENNIFER CARPENTER PARTICIPATED IN A 457F PLAN DURING 2019. THE ORGANIZATION CONTRIBUTED $100,000 AND $80,000 RESPECTIVELY. THESE AMOUNTS ARE SUBJECT TO SUBSTANTIAL RISK OF FORFEITURE UNDER THE TERMS OF THE CONTRACT. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS INCLUDES THE CHAIRMAN OF THE BOARD, THE VICE CHAIRMAN OF THE BOARD, THE IMMEDIATE PAST CHAIRMAN OF THE BOARD, THE TREASURER, THE REGIONAL CHAIRMEN, AND THE CHAIRMEN OF THE INDUSTRY SECTOR COMMITTEES. THE VICE CHAIRMAN OF THE BOARD SHALL ANNUALLY ENSURE THAT THE COMPOSITION OF THE EXECUTIVE COMMITTEE FOR THE FOLLOWING YEAR WILL BEST SERVE THE NEEDS OF THE ASSOCIATION. WHENEVER THE VICE CHAIRMAN CONCLUDES THAT THE APPOINTMENT OF ADDITIONAL EXECUTIVE COMMITTEE MEMBERS WILL BE IN THE INTEREST OF THE ASSOCIATION, HE SHALL RECOMMEND THE APPOINTMENT OF UP TO THREE AT-LARGE MEMBERS TO THE EXECUTIVE COMMITTEE TO BE ELECTED AT THE ANNUAL MEETING OF THE ASSOCIATION TO SERVE A ONE-YEAR TERM UNTIL THE NEXT ANNUAL MEETING. THE VICE CHAIRMAN'S RECOMMENDATION SHALL BE EVALUATED BY THE EXECUTIVE COMMITTEE PRIOR TO THE ANNUAL MEETING AND PROVIDED TO THE BOARD FOR FINAL APPROVAL AT THE ANNUAL MEETING. THE PRESIDENT OF THE ASSOCIATION WILL BE AN EX-OFFICIO MEMBER OF THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION A, LINE 2 JC DANN, STEPHEN DANN - FAMILY RELATIONSHIP FORM 990, PART VI, SECTION A, LINE 6 MEMBERS SHALL BE CLASSIFIED AS FOLLOWS: 1) CARRIER MEMBERS - INCLUDING REGULATED FOR HIRE AND PRIVATE (INCLUDING THOSE WHO MOVE ONLY THEIR OWN MATERIALS), AND VESSEL OWNERS WHO RENT OR CHARTER THEIR FLOATING EQUIPMENT TO OTHERS. CARRIER MEMBERS WILL BE DESIGNATED WITH ONE OF THE FOLLOWING CLASSIFICATIONS: 1. PROVISIONAL MEMBERS 2) RCP CERTIFIED MEMBERS. 2) ASSOCIATE MEMBERS - THOSE SUBSIDIARIES, BRANCH OFFICES, AND SISTER COMPANIES OF ASSOCIATION MEMBERS THAT HOLD SEPARATE MEMBERSHIPS IN THE ASSOCIATION. THESE ASSOCIATE MEMBERS SHALL EXERCISE FULL RIGHTS OF MEMBERSHIP. 3) AFFILIATE MEMBERS - THOSE ASSOCIATIONS, CORPORATIONS, PARTNERSHIPS, AND SOLE PROPRIETORSHIPS SHARING COMMON INTERESTS WITH CARRIER MEMBERS. ONE SEAT ON THE BOARD OF DIRECTORS SHALL BE FILLED BY AN AFFILIATE MEMBER NOMINATED BY THE CHAIRMAN OF THE BOARD AND ELECTED BY THE EXECUTIVE COMMITTEE. IN ADDITION, UP TO FIVE ADDITIONAL AFFILIATE MEMBERS - ONE FROM EACH REGION - MAY BE ELECTED BY THE EXECUTIVE COMMITTEE UPON THE NOMINATION OF THE CHAIRMAN OF THE RESPECTIVE REGION, IN CONSULTATION WITH THE DIRECTORS FROM THAT REGION, IF THE REGIONAL CHAIRMAN DEEMS SUCH NOMINATION TO BE IN THE BEST INTEREST OF THE ASSOCIATION. 3) OTHER MEMBERS - OTHER MEMBERS ARE THOSE ENTITIES WHOSE ELIGIBILITY FOR MEMBERSHIP IS DETERMINED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A AT EACH ANNUAL REGIONAL MEETING, THE CARRIER MEMBERS SHALL, INDEPENDENT OF THE MEMBERS IN OTHER REGIONS AND BY A MAJORITY VOTE, ELECT DIRECTORS ON THE BASIS PROVIDED IN SECTIONS 1 AND 2 OF ARTICLE V OF THE BYLAWS. ADDITIONAL BOARD MEMBERS WILL BE ELECTED FROM THE REGIONS ON THE BASIS OF TOTAL INCOME CONTRIBUTED AND NUMBER OF MEMBERS FROM EACH REGION. FORM 990, PART VI, SECTION A, LINE 7B EACH ELIGIBLE CARRIER MEMBER SHALL BE ENTITLED TO ONE VOTE ON ANY QUESTION PLACED BEFORE THE MEMBERSHIP FOR DETERMINATION INCLUDING ELECTIONS AS PROVIDED IN ARTICLE V, SECTION 3 OF THE BYLAWS, WHETHER SUCH QUESTION IS CONSIDERED AT A SPECIAL OR REGULAR MEETING OF THE MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B OUR AUDITORS, RSM, WILL DO AN INTERNAL REVIEW OF THE FORM 990. THE DIRECTOR - FINANCE AND THE PRESIDENT AND CEO WILL REVIEW THE FORM 990 IN DETAIL BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C AS ADMINISTERED BY THE AWO SECRETARY, EACH DIRECTOR WILL BE ASKED TO COMPLETE A CERTIFICATION OF AGREEMENT WITH THE POLICY AND DISCLOSURE OF ANY KNOWN CONFLICTS OF INTEREST UPON HIS OR HER ELECTION OR RE-ELECTION TO THE BOARD AND ANNUALLY THEREAFTER. FORM 990, PART VI, SECTION B, LINE 15 A COMPENSATION ANALYSIS IS CONDUCTED WITH AN INDEPENDENT, THIRD PARTY ORGANIZATION. THE RESULTS ARE SHARED WITH THE COMPENSATION COMMITTEE AS COMPENSATION DECISIONS ARE MADE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C THE AUDIT OVERSIGHT PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. THE AMERICAN WATERWAYS OPERATORS FOUNDATION 801 NORTH QUINCY STREET ARLINGTON VA 22203 541493718 CHARITABLE, EDUCATIONAL VA 501 (C)(3) LINE 7 AMERICAN WATERWAYS OPERATORS INC 1 AMERICAN WATERWAYS OPERATORS PAC 801 NORTH QUINCY STREET ARLINGTON VA 22203 POLITICAL ACTIVITY VA 527 AMERICAN WATERWAYS OPERATORS INC 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 AMERICAN WATERWAYS OPERATORS PAC R 126500 FUNDS XFER-COLLECTING AGENT