High Tech Rochester Inc

“The sole member of nextcorps, inc. Is the university of rochester. The member has the authority to elect the governing body of nextcorps, inc., and under new york law certain decisions of the nextcorps, inc. Board are subject to the approval of the member. Such decisions include amendment of the certificate of incorporation and bylaws, and approval of sale of all or substantially all assets, merger, and dissolution.”

“The sole member of nextcorps, inc. Is the university of rochester. The member has the authority to elect the governing body of nextcorps, inc., and under new york law certain decisions of the nextcorps, inc. Board are subject to the approval of the member. Such decisions include amendment of the certificate of incorporation and bylaws, and approval of sale of all or substantially all assets, merger, and dissolution.”

“The sole member of nextcorps, inc. Is the university of rochester. The member has the authority to elect the governing body of nextcorps, inc., and under new york law certain decisions of the nextcorps, inc. Board are subject to the approval of the member. Such decisions include amendment of the certificate of incorporation and bylaws, and approval of sale of all or substantially all assets, merger, and dissolution.”

“The form 990 will be reviewed first by the director of finance & administration and the president. Upon satisfactory completion of those reviews, a copy will be provided to each director for their review and comments prior to filing.”

“Conflict of interest disclosure forms are requested annually from directors, officers, key employees. Directors, officers, and key employees are required to disclose any potential conflict of interest involving any proposed contract or transactions to be executed by the corporation. The audit committee reviews the proposed contract or transaction in light of the facts and circumstances and approves only those in which the terms are fair and reasonable to the corporation and are consistent with the best interests of the corporation. The audit committee documents the basis for its decision in the minutes of the meeting at which the decision was made.”

“Before approving the compensation of an officer, the board shall determine that the total compensation to be provided by the corporation to the officer is reasonable in amount in light of the position, responsibility and qualification of the officer for the position held, including the result of an evaluation of the officer's prior performance for the corporation, if applicable. In making the determination, the board shall consider total compensation to include the salary and the value of all benefits provided by the corporation to the individual in payment for services. At the time of the discussion and decision concerning an officer's compensation, the officer shall not be present. The board shall obtain and consider appropriate data concerning comparable compensation paid to similar officers in like circumstances. The board shall set forth the basis for its decision with respect to compensation in the minutes of the meeting at which the decisions are made, including the conclusions of the evaluation and the basis for determining that the individual's compensation was reasonable in light of the evaluation and the comparability data.”

“Nextcorps, inc. And subsidiary's form 1023 and form 990 are available on request. Its governing documents, conflict of interest policy and audited financial statements are not routinely made available to the public.”

“The organization has consolidated financial statements which include its wholly-owned for profit subsidiary and is also part of a related entity's, the university of rochester, consolidated financial statements. The information on schedule d, parts xi through xiii reflects the reconciliation to the organization's independent consolidated financial statements, not that of the related entity.”

“NOT APPLICABLE.”

“Nextcorps, inc. And subsidiary leases 28 employees from a professional employer organization (peo), alcott hr group, llc. All employer returns and payroll related filings (w-2's, etc.) are performed by the peo using their ein.”

“The process is consistent with prior years.”