; (II) relied upon appropriate data as to fair market value prior to approving the disbursement; and (III) documented the basis for the approval determination concurrently with making that determination; and (iii) at the time the significant disbursement was made, the aggregate total of itemized contributions to the committee during the election cycle exceeded the aggregate total of disbursements to controlling persons by the committee during the election cycle. (C) Definitions For purposes of this paragraph: (i) Controlling person The term controlling person means any person who has authority or ability to direct or control the committee’s disbursements, any family member or business partner of such person, and any corporation (whether for-profit or not-for-profit, but not including publicly traded corporations), limited liability company, partnership, trust, bank or financial account, or other entity owned or controlled in whole or in part by such person, family member, or business partner. (ii) Significant disbursement The term significant disbursement means any disbursement to a person if— (I) such disbursement exceeds $1,000