Science Friday Initiative Inc

“The organization has its form 990 prepared by an outside accounting firm. The form 990 is reviewed and approved by the executive committee first and then a complete copy of the return is emailed to the full board for review and approval. The board of directors will contact the executive director with any questions or comments. Once the review by the board of directors is complete, the return will be filed with irs.”

“The procedures for conflict of interest are the following: in connection with any actual or possible conflicts of interest, an interested person (any director, officer, member of a committee with board-delegated powers, senior employee, founder, major donor or other person who is in a position of control over the organization and who has a direct or indirect financial interest) must disclose the existence of his or her financial interest and all material facts to the directors and members of committees with board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he or she shall leave the board meeting before the board members discuss the potential conflict of interest and decide if an actual conflict of interest exists. An interested person may make a presentation and shall respond to questions at the board meeting called for the purpose of considering a possible conflict of interest with respect to such interested person. The person shall also disclose, either as part of the presentation or prior to the meeting, any known significant reason or reasons why the transaction or arrangement might not be in the best interest of the organization. After the presentation and any such responses, he or she shall leave the meeting. An interested person shall not be present for the board's or committee's discussion of the matter or the vote on the transaction or arrangement that may constitute a conflict of interest. The interested person shall not otherwise participate in the board process or attempt to exert his or her personal influence with respect to the matter, either at or outside the meeting.”

“Compensation for the executive director is approved by the board when there is a notable increase over 3%. The compensation increase would be brought up for a vote and noted in the board meeting minutes. The executive directors compensation was stable from 2017 through 2020 and 2022. In 2021, 2023, and 2024 there were 3% cost of living increases which did not require board approval.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. In addition, the financial statements, conflict of interest policy, form 1023, and governing documents are also available upon written request.”

“The organization contracted with a professional employer organization (peo) for services, including but not limited to, payroll, timekeeping, employee benefits, hr administration, and workforce regulatory compliance needs. As the employer of record for tax purposes, forms w-2 and w-3 are issued by the peo and filed under the peo's federal ein. In this co-employment arrangement, the organization is the common law employer and, accordingly, compensation is reported on form 990, part vii, section a and part ix, lines 5-10.”

“The organization has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent auditor. This process has not changed from the prior year.”