A report regarding the
National US Arab Chamber of Commerce (NUSACC)
The Arab American Chamber of Commerce is the official owner of the trademark of the name of (Click here to view the official trademark certificate)
The Arab American Chamber of Commerce (AACC) is placing this article to clarify points regarding National US-Arab Chamber of Commerce (NUSACC).
We encourage you to read the "Articles of Incorporation" of NUSACC. This will give you a basic idea of what NUSACC was created for.
It is easy to understand from these "articles" that NUSACC has to pay 30% each year of any revenues (not profit) in one or more of following seven ways.
|In order to ensure that revenues derived form the corporation’s operations are used to further the corporation’s purposes, not less than thirty percent (30) of any revenues derived form certification as to country of origin shall be devoted to one or more of the following of the corporation’s intended activities :|
1. Cultural and educational programs sponsored or supported by the corporation;
2. Information programs developed or supported by the corporation;
3. The making of grants in furtherance of the corporation’s purposes
4. The preparation and dissemination of the corporation’s publication:
5. The implementation of ,or support for ,trade promotion programs or activities,
including seminars, conference ,studies delegation
6. The conduct of ,or support for, or the collection of data or information on trade
between the united states and the Arab world; and
7. public affairs and governmental relation.
The above is an excerpt taken directly from NUSACC's Articles of Incorporation
Please click here to read the entire NUSACC Articles of Incorporation
We have included a copy of the tax returns of NUSACC, form 990, for 12 years. You can decide for yourself if NUSACC is paying this 30% or not.
NUSACC Tax summary for years between 1994-2012
Here are few points that we would like to highlight:
The NUSACC is an organization promoted by the Arab League.
It is public knowledge that the Arab League recently fired many of their employees for financial reasons, however, the salary of the president of NUSACC "David Hamod" was 300,000 $ annually in 2012 .
In July 2007, AACC offered to pay the Arab League 70% of all projected income derived from certification of commercial documents if they would give AACC the exclusive right to provide the certification services to the Arab countries. AACC believes that if we were appointed, we would generate over 3,000,000 $ in 2008. This would provide the Arab League with revenues from the income of the certifications of approximately 2,100,000 $
To the best of our knowledge, AACC believes that NUSACC did not pay the Arab league any percentage of the revenues that they received from the certification services.
Because of the difficulties of communicating between AACC and the Arab League in Egypt and Lebanon, we are providing this web site as an open invitation to the Arab league to make an intelligent decision in this matter.