Science Friday Initiative Inc.

“The form 990 is prepared by an independent certified public 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: duty to disclose: 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. Determining whether a conflict of interest exists: 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. Procedures for addressing the conflict of interest: 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. An interested person shall not be counted in determining the presence of a quorum for purposes of transacting business at the meeting. The chairperson of the board shall, if appropriate, investigate or appoint a disinterested person or committee to investigate, alternatives to the proposed transaction or arrangement and whether the organization can obtain a more advantageous transaction or arrangement with reasonable efforts from a person or entity that would not give rise to a conflict of interest. The board shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the organization's best interest for its own benefit and whether the transaction is reasonable and fair to the organization and shall make its decision as to whether to enter into the transaction or arrangement in conformity with such determination. In making the determination whether a transaction is fair or reasonable, the board shall, to the extent appropriate, consider applicable legal standards, including the internal revenue code of 1986, the related treasury regulations and the connecticut general statutes, each as amended from time to time. For purposes of this policy, "fair to the organization" shall mean that the transaction or arrangement as a whole was beneficial to the organization, taking into appropriate account whether it is or was (1) fair in terms of the interested person's dealings with the organization, and (2) comparable to what might have been obtainable in an arm's length transaction, given the consideration paid or received by the organization.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. It is posted on new york state attorney general website , guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, form 990, form 1023, and by-laws are also available upon written request to 19 west 44th street #412, new york, ny 10036 or by calling the organization directly at (212) 840-2244.”

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