Stowers Policy Institute Inc

“David a. Welte, charles german, and richard w. Brown, directors of spi, have a business relationship. Penny m. Spence, charles german, and richard w. Brown, directors of spi, have a business relationship.”

“Penny m. Spence, charles german and richard w. Brown are compensated by a related organization, stowers resource management, inc. ("srm") for the services performed in their official capacity for srm.”

“The data and information necessary to prepare spi's form 990 is compiled by the organization's accounting support team and reviewed by the institute's tax attorney at bryan cave leighton paisner, llp. Forvis mazars, llp, the institute's external tax preparer, uses this information to prepare the form 990. The completed form 990, including required schedules, is reviewed by the directors before it is filed with the irs.”

“Spi has adopted a "conflicts of interest and director independence policy." each director, officer, and other person who is in a position to exercise substantial influence over decisions of spi is required to annually complete and sign a disclosure statement that is part of the policy. A covered person must also disclose the existence of a potential conflict and all material facts to the governing board as soon as the person has knowledge that a potential conflict might exist. Per the policy, the board of directors or governance committee then reviews the disclosure to determine whether a conflict exists. After the covered person makes the relevant disclosure, they are recused and may not participate in the deliberations and decisions regarding the transaction. Spi also conducts periodic and adhoc reviews of transactions and agreements to ensure that it does not engage in activities that are not consistent with its tax-exempt purpose.”

“The organization's governing documents, conflict of interest policy, and financial statements are available upon request.”

“Spi receives investment management services from american century investments ("aci"). Aci is a wholly owned subsidiary of american century companies, inc. ("acci"). In selecting aci to manage its liquid investments, spi not only selected a high quality mutual fund company with an outstanding track record, but also placed its liquid investments in a company in which it owns stock and receives dividends. Spi pays aci the same administrative fee for these services as any arms-length investor.”

“Stowers policy institute ("spi") operates exclusively for the promotion of philanthropic social welfare within the meaning of code section 501(c)(4). Its exempt purpose is to promote innovative and ethical biomedical research, therapies and cures, and to advocate for a political, economic, and social environment that advances, facilitates, and protects that research and those therapies and cures. Spi activities to further its mission could include public education, legislative advocacy, and political campaigning; as long as such activity is not spi's primary activity.”

“The board is responisble for overseeing the audit of the financial statements and the selection of an independent accountant that audited the statements.”