This invention relates to a composition, comprising: (I) an aromatic Mannich compound derived from: (A) a hydroxy containing aromatic compound having the formula  wherein in Formula (A-1): Ar is an aromatic group; m is 1, 2 or 3; n is a number from 1 to about 4; with the proviso that the sum of m and n does not exceed the number of available positions on Ar that can be substituted; each R1 independently is a hydrocarbyl group of up to about 400 carbon atoms; and R2 is H, amino or carboxyl; (B) an aldehyde or ketone having the formula  or a precursor thereof; wherein in Formula (B-1): R1 and R2 independently are H or hydrocarbyl groups having from 1 to about 18 carbon atoms; and R2 can also be a carbonyl-containing hydrocarbyl group having from 1 to about 18 carbon atoms; and (C) a mixture of water and an amine, said amine containing at least one primary or secondary amino group; and (II) alcohol. The invention also relates to a process for making the foregoing composition.