Schepens Eye Research Institute Inc

“THE FOUNDATION OF THE MASSACHUSETTS EYE AND EAR INFIRMARY, INC. IS THE SOLE MEMBER OF THE INSTITUTE. Effective April 1, 2018, Partners Healthcare System, Inc.(Partners) became the sole member of the Foundation. As a result the Foundation and its affiliated entities became part of the comprehensive, integrated healthcare system organized and operated by Partners that includes hospitals, physicians, charitable, scientific, educational, research and other Partners affiliated organizations. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS ARE ELECTED BY THE MEMBER.”

“The following actions shall require approval by the Member: 1. Approval of all long-term or master strategic or business plans of the Corporation and any substantive changes thereto; 2. Approval of any substantive changes to the vision and mission statement of the Corporation; 3. Approval of annual and long-term operating and capital budgets of the Corporation; 4. Approval of the merger, consolidation, or dissolution of the Corporation; 5. Approval of any material change in the types of research conducted by the Corporation, including additions thereto and discontinuations thereof, which are not expressly identified and provided for in the previously approved strategic and/or business plans; 6. Appointment or removal of financial auditors of the Corporation; 7. Approval of the Corporations plan of insurance; 8. Approval of the organization or acquisition of any subsidiary or affiliate of the Corporation, or the conducting of all or any part of the Corporations business through one or more affiliated corporations, partnerships, limited liability companies or other arrangements or entities; 9. Approval of any academic or other material strategic affiliation of the Corporation with third parties.”

“Schepens's form 990 is prepared by pricewaterhousecoopers, llp using information provided by management. After the form 990 is completed, it is reviewed by the manager of investments and foundation accounting. The form 990 is then presented to the finance committee for further review and approval as authorized by the board of directors. The board of directors is also given the form 990 for review with time to submit comments and questions before final filing.”

“Schepens employees are covered by the infirmary conflict of interest policy. Members of the staff are required to disclose conflicts of interest to their chief of service, department and director of laboratory/unit. Members of the board of directors are required to disclose annually, in writing, any interests that could rise to conflicts. The office of the internal legal counsel obtains and reviews the annual conflicts of interest statements submitted by members of the board of directors, and reports on the same to the audit and compliance committee of the board. With respect to interests disclosed by the board members that could give rise to conflicts of interest, the internal legal counsel reviews all transactions between such interests and affiliates of schepens, to determine whether these transaction were conducted at arm's length.”

“Please see the infirmary's return for compensation disclosures. The chairman of the compensation committee of the board of the massachusetts eye and ear infirmary presents a recommendation to the compensation committee who have final approval of the ceo's base salary and bonus amount. The ceo recommends executive salaries to the compensation committee of the board who has final authorization to approve it. The compensation committee meeting was held on november 15, 2017. Total compensation for the ceo, chiefs and vice presidents, including bonus payments, including comparability data, is analyzed by independent compensation consultants and is determined to be reasonable.”

“Summarized financial statements are available on the infirmary's website: www.masseyeandear.org. Audited financial statements are available upon request. Schepens' governing documents and form 990 are available upon request. The conflict of interest policy is also available upon request.”

“Compensation is for professional services and not for service as officers. Please see the infirmary's return for compensation disclosures.”

“Description of organization mission the schepens eye research institute ("schepens") fights blindness by developing new technologies, therapies and knowledge to retain and restore vision. Through a continuum of discovery, the institute works toward a future in which blindness is prevented, alleviated and ultimately cured.”