The Broad Center

“There is a business relationship between gerun riley and andy stern.”

“The organization does not employ a chief financial officer. The typical responsibilities of this role including finance, accounting and tax are handled by family office financial services, llc who provides finance, accounting, tax, human resources, it, public relations and other support services. In 2019, the organization paid family office financial services, llc $741,385 for financial services.”

“The board of directors has authorized the audit committee to approve the annual tax filings. A copy of the organization's form 990 is provided to the audit committee of the board of directors for review approximately 30 days prior to filing. The return is also made available to all members of the board for review prior to filing. After the audit committee has discussed and reviewed the return, and considered any comments from the other directors, the return is approved and filed.”

“The broad center's conflict of interest policy covers board members. Board members complete an annual conflict of interest survey, and they are required to disclose conflicts of interest at each board meeting. Any potential conflicts are reviewed by the remaining board or committee members. Any conflicted person must recuse him/herself from the deliberation and decision regarding the matter.”

“To determine compensation for the organization's executive director, key employees, and officers, the executive committee of the board of directors meets to review their job responsibilities, related experience, compensation history, performance reviews, and comparability data from peer organizations compiled by an outside contractor. Minutes from this meeting are taken to document the committee's deliberation and decisions.”

“The organization's forms 1023, 990, and 990-t are available upon request and delivered electronically. Contact information is provided on page 6, part vi, section c., line 20.”

“The organization's audited financial statements are available upon request and delivered electronically. Contact information is provided on page 6, part vi, section c., line 20.”

“In 2019, the executive director received compensation for services in excess of $10,000 and therefore is not an independent voting member.”

“The organization's volunteers include the uncompensated board members.”

“While the eli and edythe broad foundation (eebf), a 501(c)(3) private foundation, is currently the majority funder of the broad center (tbc) and eli broad founded both entities, they are not related organizations by definition. Eli broad is not an officer, director or employee of tbc. There is no parent/subsidiary, brother/sister or supporting/supported (under 509(a)(3) or 509(f)(3)) organization relationship. Neither organization has the power to remove and replace, or a continuing power to appoint or elect, a majority of the directors of the other organization. A board overlap does not exist where directors of one organization constitute the majority of the directors of the other organization. Furthermore, there are no financial dealings (i.e. Loans) between the two entities other than the grants from eebf to tbc. Tbc expends all grant funds from eebf within one year.”

“Marketing and communications: program service expenses 3,150. Management and general expenses 14,224. Fundraising expenses 0. Total expenses 17,374. Staff recruitment & training: program service expenses 26,829. Management and general expenses 116,143. Fundraising expenses 0. Total expenses 142,972. Program development & consulting: program service expenses 195,683. Management and general expenses 285,161. Fundraising expenses 0. Total expenses 480,844. Faculty and speakers: program service expenses 163,342. Management and general expenses 5,505. Fundraising expenses 0. Total expenses 168,847. Curriculum development: program service expenses 2,563. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,563. Technology: program service expenses 0. Management and general expenses 4,789. Fundraising expenses 0. Total expenses 4,789. Leadership development: program service expenses 420,992. Management and general expenses 17,500. Fundraising expenses 0. Total expenses 438,492. Residency fees: program service expenses 77,419. Management and general expenses 0. Fundraising expenses 0. Total expenses 77,419. Other professional fees: program service expenses 163,724. Management and general expenses 8,213. Fundraising expenses 0. Total expenses 171,937.”