Civic Intelligence

Bering Sea Fisheries Research Foundation

EIN 20-1055264 • 501(c)6 • Bothell, WA

Profile

To aid, encourage, promote, and support scientific research and education regarding the shellfish and ancillary fisheries of the north pacific

23929 22nd Dr SEBothell, WA 98021

www.bsfrf.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

62nd percentile

0.24x

Higher debt load relative to assets than 62% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

38th percentile

0.09x

Higher debt load relative to revenue than 38% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Net Margin

18th percentile

-6.6%

Higher net margin than 18% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

30th percentile

$0

Higher top officer pay than 30% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Asset Growth

44th percentile

3.6%

Faster asset growth than 44% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

98th percentile

214%

Faster revenue growth than 98% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$1,054,423

Up $36,285 (+3.6%) from 2023

Liabilities

Up

$248,003

Up $220,552 (+803%) from 2023

Net Assets

Down

$806,420

Down $184,267 (-19%) from 2023

Revenue

Up

$2,800,636

Up $1,909,727 (+214%) from 2023

Expenses

Up

$2,984,903

Up $1,680,056 (+129%) from 2023

Net Income

Up

-$184,267

Up $229,671 (+55%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2010: $429,581Liabilities 2010: $37,217Net Assets 2010: $392,3642010Assets 2011: $841,461Liabilities 2011: $51,069Net Assets 2011: $790,3922011Assets 2012: $1,442,963Liabilities 2012: $83,037Net Assets 2012: $1,359,9262012Assets 2013: $1,681,667Liabilities 2013: $55,849Net Assets 2013: $1,625,8182013Assets 2014: $1,964,915Liabilities 2014: $30,582Net Assets 2014: $1,934,3332014Assets 2015: $2,021,553Liabilities 2015: $26,930Net Assets 2015: $1,994,6232015Assets 2016: $2,205,655Liabilities 2016: $30,632Net Assets 2016: $2,175,0232016Assets 2017: $1,884,317Liabilities 2017: $64,651Net Assets 2017: $1,819,6662017Assets 2018: $1,613,624Liabilities 2018: $42,555Net Assets 2018: $1,571,0692018Assets 2019: $1,425,126Liabilities 2019: $27,219Net Assets 2019: $1,397,9072019Assets 2020: $1,549,181Liabilities 2020: $19,907Net Assets 2020: $1,529,2742020Assets 2021: $1,894,594Liabilities 2021: $201,371Net Assets 2021: $1,693,2232021Assets 2022: $1,426,912Liabilities 2022: $22,287Net Assets 2022: $1,404,6252022Assets 2023: $1,018,138Liabilities 2023: $27,451Net Assets 2023: $990,6872023Assets 2024: $1,054,423Liabilities 2024: $248,003Net Assets 2024: $806,4202024

Highlighted filing

2024

Assets$1,054,423
Liabilities$248,003
Net Assets$806,420

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $619,6742010Expenses 2011: $532,2882011Expenses 2012: $718,2932012Revenue 2013: $1,083,442Expenses 2013: $817,550Net Income 2013: $265,8922013Revenue 2014: $1,057,901Expenses 2014: $743,848Net Income 2014: $314,0532014Revenue 2015: $1,018,162Expenses 2015: $957,872Net Income 2015: $60,2902015Revenue 2016: $1,214,408Expenses 2016: $1,034,008Net Income 2016: $180,4002016Revenue 2017: $1,088,524Expenses 2017: $1,443,881Net Income 2017: -$355,3572017Revenue 2018: $878,791Expenses 2018: $1,127,388Net Income 2018: -$248,5972018Revenue 2019: $866,672Expenses 2019: $1,039,834Net Income 2019: -$173,1622019Revenue 2020: $815,693Expenses 2020: $684,326Net Income 2020: $131,3672020Revenue 2021: $1,273,156Expenses 2021: $1,109,207Net Income 2021: $163,9492021Revenue 2022: $207,261Expenses 2022: $495,859Net Income 2022: -$288,5982022Revenue 2023: $890,909Expenses 2023: $1,304,847Net Income 2023: -$413,9382023Revenue 2024: $2,800,636Expenses 2024: $2,984,903Net Income 2024: -$184,2672024

Highlighted filing

2024

Revenue$2,800,636
Expenses$2,984,903
Net Income-$184,267

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.05$0.25$0.81$2.80$2.98$0.18
2023Detailed filing. Detailed filing data is available for this year.$1.02$0.03$0.99$0.89$1.30$0.41
2022Detailed filing. Detailed filing data is available for this year.$1.43$0.02$1.40$0.21$0.50$0.29
2021Detailed filing. Detailed filing data is available for this year.$1.89$0.20$1.69$1.27$1.11$0.16
2020Detailed filing. Detailed filing data is available for this year.$1.55$0.02$1.53$0.82$0.68$0.13
2019Detailed filing. Detailed filing data is available for this year.$1.43$0.03$1.40$0.87$1.04$0.17
2018Detailed filing. Detailed filing data is available for this year.$1.61$0.04$1.57$0.88$1.13$0.25
2017Detailed filing. Detailed filing data is available for this year.$1.88$0.06$1.82$1.09$1.44$0.36
2016Detailed filing. Detailed filing data is available for this year.$2.21$0.03$2.18$1.21$1.03$0.18
2015Detailed filing. Detailed filing data is available for this year.$2.02$0.03$1.99$1.02$0.96$0.06
2014Detailed filing. Detailed filing data is available for this year.$1.96$0.03$1.93$1.06$0.74$0.31
2013Detailed filing. Detailed filing data is available for this year.$1.68$0.06$1.63$1.08$0.82$0.27
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.44$0.08$1.36$0.72
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.84$0.05$0.79$0.53
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.43$0.04$0.39$0.62
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 9, 2025
Return Version
2024v5.2
Gross Receipts
$2,800,636
Mission and Program Overview

Mission

To aid, encourage, promote, and support scientific research and education regarding the shellfish and ancillary fisheries of the north pacific

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$343,811$509,795▲ $165,984
Savings and Temporary Cash Investments$637,219$379,672▼ $257,547
Pledges and Grants Receivable-$100,103-
Accounts Receivable-$57,094-
Prepaid Expenses and Deferred Charges$28,000--
Land, Buildings, and Equipment, Net$9,108$7,759▼ $1,349
Total Assets$1,018,138$1,054,423▲ $36,285
Liabilities
Accounts Payable and Accrued Expenses$27,451$126,679▲ $99,228
Deferred Revenue-$121,324-
Total Liabilities$27,451$248,003▲ $220,552
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$990,687$806,420▼ $184,267
Total Net Assets Fund Balance$990,687$806,420▼ $184,267
Total Liabilities and Net Assets / Fund Balance$1,018,138$1,054,423▲ $36,285

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,759$352,704$360,463
Land$0--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Doug WellsPresident, Director
Edward PoulsenVice President, Director
Frank KeltyVice President, Director
Gary PainterDirector
Heather MccartyDirector
Louie LowenbergDirector
Mark CastoDirector
Owen KvingeDirector
Shannon CarrollDirector
Sinclair WiltDirector
Wes JonesDirector
Scott GoodmanExecutive Director
Lenny HerzogSecretary, Director
Garry LonconTreasurer, Director

Highest Paid Contractors

ContractorServicesLocationCompensation
Vesteraalen LLCVessel Charter4225 23RD AVE W STE 103, Seattle, WA 98199$462,214
Early Dawn LLCVessel Charter850 S ROBERTS ST SUITE 300, Wasilla, AK 99654$350,000
Natural Resources Consultants INCResearch Consultant4039 21ST AVE W 404, Seattle, WA 98199$343,940
Arctic Lady EnterprisesVessel Charter12042 SE SUNNYSIDE RD PMB 333, Clackamas, OR 97015$281,300
Seabrooke Alaska LLCVessel CharterPO BOX 349, King Cove, AK 99612$253,500
Revenue and Support

Revenue Composition

Contributions and Grants
$2,785,550
Program Service Revenue
$0
Investment Income
$15,086
Other Revenue
$0
All Other Contributions
$222,706
Change in Net Assets
$-184,267

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,800,636
Revenue Not Reported on Form 990
$19,690
Total Revenue per Audited Statements
$2,820,326
Total Revenue per Form 990
$2,800,636
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,970,081
Grants and Similar Amounts Paid$14,822
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$0$0$0$660,503
Fees for Services Accounting$0$0$0$92,366
Travel$0$0$0$83,590
Other Expenses$0$0$0$27,743
Grants to Domestic Individuals$0--$14,822
Fees for Services Legal$0$0$0$12,897
Office Expenses$0$0$0$1,727
Information Technology$0$0$0$1,500
Depreciation Depletion$0$0$0$1,349
Insurance$0$0$0$1,286
Conferences and Meetings$0$0$0$1,050
Total Functional Expenses$0$0$0$2,984,903

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,004,593
Expenses per Audited Statements$2,984,903
Total Expenses per Form 990$2,984,903
Expenses Not Reported on Form 990$19,690
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Scott GoodmanExecutive DirectorResearch ConsultantNo$521,673
Louie LowenbergDirectorVessel CharterNo$359,220
Edward PoulsenVice PresidentReimburse Shared LaborNo$34,615
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Business relationship with 35% controlled entity
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 9

Gary painter po box 1027 newport or 97365

Form 990, Part VI, Line 9

Frank kelty 43915 via granada palm desert ca 92211

Form 990, Part VI, Line 9

Doug wells 2401 eyres pl w seattle wa 98199

Form 990, Part VI, Line 9

Lenny herzog 916 delaney st anchorage ak 99501

Form 990, Part VI, Line 9

Garry loncon 2102 ne noble st issaquah wa 98029

Form 990, Part VI, Line 9

Mark casto 146 lake ave freeland wa 98249

Form 990, Part VI, Line 9

Louie lowenberg 11825 se eastbourne ln portland or 97236

Form 990, Part VI, Line 9

Edward poulsen 17249 15th ave nw shoreline wa 98177

Form 990, Part VI, Line 9

Wes jones 2701 gambell st ste 400 anchorage ak 99503

Form 990, Part VI, Line 9

Scott goodman 4039 21st ave w ste 404 seattle wa 98119

Form 990, Part VI, Line 9

Owen kvinge 711 h st ste 200 anchorage ak 99501

Form 990, Part VI, Line 9

Heather mccarty 1537 pine st juneau ak 99801

Form 990, Part VI, Line 9

Sinclair wilt 3015 112th ave ne ste 100 bellevue wa 98004

Filing and Contact Details

Filer

Filer Name
Bering Sea Fisheries Research Foundation
EIN
20-1055264
Phone
4254868173
Address
23929 22ND DR SE, BOTHELL, WA 98021

Signing Officer

Name
Douglas B Wells
Title
President
Phone
4254868173
Signed
2025-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Douglas B Wells
Formed
2004
Legal Domicile
Wa
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
13

Preparer

Firm
David R Matherly CPA
Address
23929 22ND DR SE, BOTHELL, WA 98021
Preparer
David R Matherly
Phone
4254868173
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

Review of form 990:the draft form 990 is emailed to all members of the board prior to filing and asked to provide comments. After the comment period the draft is approved by the finance committee. The president then indicates approval for filing by signing the efile authorization form.

Pt VI, Line 15A

Review of top management official compensation: the salaries, if any, of all employees of the foundation, and compensation of all contracted positions, shall be determined by or under the direction of the board of directors. The executive directors compensation is determined by the board of directors based on prevailing data for comparable positions, and is reviewed annually in conjunction with development of the annual budget.

Pt VI, Line 15B

Review of compensation of officers or other key employees: currently officers do not receive compensation, and there are no other key employees. If in the future these positions are filled and/or compensated, then the underlying review process would be the same as that for the executive director.

Pt VI, Line 19

Method of making documents available to the public: the foundations governing documents, financial statements and tax returns are made available to the public upon request.

Form 990, Part III, Line 4D

Science coordination and advisory participation: the bsfrf science advisory teams other activities during

Form 990, Part IX, Line 11G

Consulting & research fees 413191.

Form 990, Part IX, Line 11G

Survey technical personnel 213336.

Form 990, Part IX, Line 11G

Office service expense 3277.

Form 990, Part IX, Line 11G

Rfm-asmi bs crab cert program fees 30699.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT, DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT, DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE PRESIDENT, DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY, DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER, DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
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IRS990/ProgSrvcAccomActy2Grp/Desc0BERING SEA SNOW CRAB AND OPILIO RESEARCH: A HIGH-PRIORITY PILOT FIELD PROJECT WAS COMPLETED ON BERING SEA OPILIO (SNOW CRAB) IN THE LATE SUMMER OF 2024 BY BSFRF IN COLLABORATION WITH NMFS AND ADF&G. TWO INDUSTRY VESSELS (THE FV VESTERAALEN AND THE FV CONFIDENCE) WERE CHARTERED TO COMPLETE SAMPLING AT SPECIFIED STATIONS ACROSS THE BERING SEA SHELF OPILIO GROUNDS. PORTIONS OF THIS SAMPLING WERE CONDUCTED IN COORDINATION WITH THE NMFS SURVEY OPERATING IN THE SAME TIME AND AREA. THE TWO CHARTERS USED POT AND TRAWL SAMPLING GEAR FOR COMPARATIVE CATCHES TO INFORM FURTHER FULL-SCALE OPILIO RESEARCH OF SIMILAR NATURE. IN EARLY MAY 2024, THE BSFRF CO-HOSTED A SNOW CRAB WORKSHOP IN ST. JOHNS, NEWFOUNDLAND, IN COLLABORATION WITH THE DEPARTMENT OF FISHERIES AND OCEANS (DFO), CANADA. SEVERAL BERING SEA CRAB RESOURCE STAKEHOLDERS (BSFRF, ADF&G, AND NMFS) TRAVELED TO ST. JOHNS FOR A THREE-DAY WORKSHOP HOSTED IN-PERSON BY CANADIAN SNOW CRAB RESEARCHERS. THE WORKSHOP WAS INTENDED TO HEAR FROM ALASKA, CANADA, AND OTHER INTERNATIONAL EXPERTS FOR ADVICE ON SUSTAINABLE MANAGEMENT OF GLOBAL SNOW CRAB FISHERIES DURING PERIODS OF ECOSYSTEM CHANGE AND VARIABLE STOCK DYNAMICS. FINDINGS FROM THE WORKSHOP ARE IN PRESS WITH A PEER-REVIEWED PUBLICATION.
IRS990/ProgSrvcAccomActy3Grp/Desc0HABITAT ASSESSMENT AND TECHNOLOGY DEVELOPMENT: THE BSFRF COLLABORATED ON A NEW LARGE-SCALE PROJECT IN 2024 TO UTILIZE AN UNDERWATER TOWED CAMERA ARRAY (CAMSLED) OWNED BY ADF&G TO ASSESS PRESENCE OF BBRKC AND SUITABLE JUVENILE AND LARVAL HABITAT IN BRISTOL BAY. THE CHARTER FOR THE PROJECT (CHARTERING THE FV EARLY DAWN) WAS CONDUCTED IN COLLABORATION WITH ADF&G AND FUNDED BY COMBINED SUPPORT FROM ADF&G AND THE NORTH PACIFIC RESEARCH BOARD (NPRB) THROUGH BSFRF. A SECONDARY COMPONENT OF THIS RESEARCH PLACED MODIFIED BBRKC POTS AFFIXED WITH NEW LARVAL COLLECTORS TO REMAIN IN BRISTOL BAY OVER THE SUMMER PERIOD FOR RETRIEVAL IN THE FALL.
IRS990/ProgSrvcAccomActyOtherGrp/Desc0SCIENCE COORDINATION AND ADVISORY PARTICIPATION: THE BSFRF SCIENCE ADVISORY TEAMS OTHER ACTIVITIES DURING 2024 INCLUDED THE CRAB PLAN TEAM MEETINGS OF THE NORTH PACIFIC FISHERIES MANAGEMENT COUNCIL, THE ALASKA MARINE SCIENCE SYMPOSIUM, AND THE BERING SEA CRAB SCIENCE SYMPOSIUM. THESE ACTIVITIES FURTHERED THE FOUNDATIONS GOAL OF SUPPORTING COLLABORATION AMONG INDUSTRY, STATE, AND FEDERAL PARTNERS TO ADVANCE SCIENTIFIC RESEARCH AND MANAGEMENT OF BERING SEA CRAB RESOURCES.
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0TUITION SCHOLARSHIP
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0SCOTT GOODMAN
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1EDWARD POULSEN
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm2LOUIE LOWENBERG
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0EXECUTIVE DIRECTOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1VICE PRESIDENT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt2DIRECTOR
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0RESEARCH CONSULTANT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1REIMBURSE SHARED LABOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc2VESSEL CHARTER
IRS990ScheduleL/GrntAsstBnftInterestedPrsnGrp/AssistancePurposeTxt0PROMOTE QUALITY OF RESEARCH
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IRS990ScheduleL/GrntAsstBnftInterestedPrsnGrp/PersonNm0MADISON SHIPLEY
IRS990ScheduleL/GrntAsstBnftInterestedPrsnGrp/RelationshipWithOrgTxt0EMPLOYEE OF NRC
IRS990ScheduleL/GrntAsstBnftInterestedPrsnGrp/TypeOfAssistanceTxt0TUITION & RESEARCH ASSISTANCE
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0SCOTT GOODMAN IS A PRINCIPAL OF NATURAL RESOURCES CONSULTANTS INC (NRC). THE FOUNDATION USES NRC FOR RESEARCH CONSULTING SERVICES. DURING 2024 THE FOUNDATION PAID NRC $521,673 FOR ITS SERVICES AND COST REIMBURSEMENTS. THE CONTRACTED WORK IS BUDGETED AND APPROVED BY THE FOUNDATIONS BOARD OF DIRECTORS.
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt1EDWARD POULSEN IS THE TREASURER AND SECRETARY OF ALASKA BERING SEA CRABBERS (ABSC). THE FOUNDATION REIMBURSES THE SHARED LABOR COSTS FOR SCIENCE ADVISORY SERVICES. DURING 2024 THE FOUNDATION PAID ABSC $34,615 FOR ITS SHARE OF THESE LABOR COSTS. THE CONTRACTED WORK IS BUDGETED AND APPROVED BY THE FOUNDATIONS BOARD OF DIRECTORS.
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt2LOUIE LOWENBERG IS A PRINCIPAL OF ARCTIC LADY ENTERPRISES. IN 2024, THE FOUNDATION CONTRACTED WITH ARCTIC LADY ENTERPRISES FOR VESSEL CHARTER SERVICES TOTALING $359,220. THE CONTRACTED WORK IS BUDGETED AND APPROVED BY THE FOUNDATIONS BOARD OF DIRECTORS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0REVIEW OF FORM 990:THE DRAFT FORM 990 IS EMAILED TO ALL MEMBERS OF THE BOARD PRIOR TO FILING AND ASKED TO PROVIDE COMMENTS. AFTER THE COMMENT PERIOD THE DRAFT IS APPROVED BY THE FINANCE COMMITTEE. THE PRESIDENT THEN INDICATES APPROVAL FOR FILING BY SIGNING THE EFILE AUTHORIZATION FORM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1REVIEW OF TOP MANAGEMENT OFFICIAL COMPENSATION: THE SALARIES, IF ANY, OF ALL EMPLOYEES OF THE FOUNDATION, AND COMPENSATION OF ALL CONTRACTED POSITIONS, SHALL BE DETERMINED BY OR UNDER THE DIRECTION OF THE BOARD OF DIRECTORS. THE EXECUTIVE DIRECTORS COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS BASED ON PREVAILING DATA FOR COMPARABLE POSITIONS, AND IS REVIEWED ANNUALLY IN CONJUNCTION WITH DEVELOPMENT OF THE ANNUAL BUDGET.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2REVIEW OF COMPENSATION OF OFFICERS OR OTHER KEY EMPLOYEES: CURRENTLY OFFICERS DO NOT RECEIVE COMPENSATION, AND THERE ARE NO OTHER KEY EMPLOYEES. IF IN THE FUTURE THESE POSITIONS ARE FILLED AND/OR COMPENSATED, THEN THE UNDERLYING REVIEW PROCESS WOULD BE THE SAME AS THAT FOR THE EXECUTIVE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3METHOD OF MAKING DOCUMENTS AVAILABLE TO THE PUBLIC: THE FOUNDATIONS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND TAX RETURNS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.

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