Technical Education Research Centers Inc

“A copy of the 990 is presented by the cfo to the treasurer for review and questions and is then shared with the finance committee of the board of trustees, and finally the full board of trustees.”

“Terc has a conflict of interest training that new staff undertake, a conflict of interest form that any researcher must fill out before working with federal funds, and a conflict of interest committee to review the forms and address conflicts that may arise. Additionally, there is an annual financial disclosure form that all pi's/co-pi's must complete.”

“Compensation review for president: the process for determining compensation for the president is conducted by an independent group consisting of members of the board of trustees. Care is taken to ensure that there is no conflict of interest with respect to board members selected to conduct the review. Recommendations for compensation are presented to and approved in executive session of the board at its may meeting. As part of its review the board subcommittee requests of the director of human resources (dhr) compensation data on similarly qualified persons in functionally comparable positions at similarly situated organizations. The comparability is based on a comparison of the job duties of the president with a similarly situated position at another organization similar to terc in size, nonprofit status, and overall mission, as well as similar geographical location. The dhr obtains this data from (1) 990s filed with guidestar and (2) a commissioned analysis from a professional compensation consultant. The result of the board review of the compensation for the president is recorded by the chair of the board and forwarded to the dhr for placement in the personnel file of the president and serves as instruction to process the salary increase. Compensation review for the chief financial officer (cfo) is determined by the president, to whom the cfo reports. As with all positions at terc, including those of other officers and key employees, the appropriate range for the position is determined through a compensation analysis conducted by an independent consultant, using survey data from comparable organizations and matched with the job responsibilities and level of experienced required to fulfill the cfo position. Compensation analyses are conducted approximately every 3 years. The last compensation analysis was conducted in 2021. The salary of the cfo is reviewed by the president annually as part of the salary review process. Any recommendation for a raise based on new duties assumed or extraordinary growth in the position is documented by the president and presented to the salary committee for review. Documentation on the final salary is maintained in the office of the dhr. A similar process is conducted for determining compensation of other officers and key employees.”

“Terc maintains its governing documents, conflict of interest policy, and financial statements internally and are available by request by the public. Terc also uploads a copy of the filed 990 on guidestar.org.”

“Other professional fees: program service expenses 2,855,734. Management and general expenses 73,150. Fundraising expenses 0. Total expenses 2,928,884.”

“This process has not changed from the prior year.”