World Economic Forum USA Inc

“The secretary of the board participates in board meetings but does not have voting rights.”

“The bylaws were updated to add the officer positions of vice chairman and managing director, and remove the former officer positions of president and vice president.”

“The world economic forum, a swiss non-profit foundation, has the power to appoint a majority of the world economic forum usa's board of directors.”

“A majority of the entire board of directors shall constitute a quorum for the transaction of business if a majority of the directors present have been appointed by the world economic forum (the forum), a swiss non-profit foundation. The forum thus has the power to make governance decisions or ratify decisions of the governing body made by world economic forum usa's board of directors.”

“The form 990 is prepared by an independent accounting firm based on the information provided by the organization's head of finance and operations. It is then reviewed and approved by the managing director, chairman and vice-chairman before filing, and is also provided to the senior management of the world economic forum in switzerland for comment. The board of directors was dissolved prior to the filing of this form 990, when the world economic forum usa converted to a single member llc, with the world economic forum in switzerland as its single member.”

“Employees have an obligation to conduct business within guidelines that prohibit actual or potential conflicts of interest. This policy establishes the framework within which the forum usa wishes the business to operate. The purpose of these guidelines is to provide general direction so that employees may seek further clarification on issues related to the subject of acceptable standards of operation. An actual or potential conflict of interest occurs when an employee is in a position to influence a decision that may result in a personal gain for that employee or for a relative as a result of the forum usa's business dealings. For the purposes of this policy, a relative is any person who is related by blood or marriage or whose relationship with the employee is similar to that of persons who are related by blood or marriage. It is imperative that employees disclose to the managing director as soon as possible the existence of any actual or potential conflict of interest so that safeguards can be established to protect all parties. Personal gain may result not only in cases where an employee or relative has a significant ownership in a firm with which the forum usa does business but also when an employee or relative receives any kickback, bribe, substantial gift, or special consideration as a result of any transaction or business dealings involving the forum usa. All disclosures required by this policy are to be declared in writing to the managing director of the forum usa as soon as is reasonably possible once one or more of the following occurs: - when you are or become an officer or director of any organization; - when you receive any source of employment or consulting income outside the forum usa (please see outside activities policy above.); - when any formal and/or ongoing relationship with any current forum usa member or partner company is formed, including both those compensated or not compensated (e.g., advisory boards); and - when any gift or advantage is accepted (please see gifts policy above). - all board members sign an acknowledgment disclosing any conflict of interest with the organization as well as an annual questionnaire to identify any related activity that may be a conflict of interest.”

“The organization has a conflict of interest policy to require directors and officers to annually disclose any conflicts of interest. Such policy was in place in fiscal year 2016. The organization circulates annual conflict of interest questionnaires which are reviewed by the managing director of forum usa. Key employees are required to raise any potential conflicts of interest to the managing director of forum usa.”

“The chairman's compensation is set by the world economic forum in switzerland. The forum in switzerland worked with an external, globally recognised partner that managed creating a job structure, defining levels and building pay ranges. Fewer, broader and overlapping pay ranges were established based on benchmarking with 3 sectors; international organisations, consulting firms and general industry companies. General remuneration guideline for the managing board is approved by the board of trustees as per the laws governing the organization of the world economic forum, switzerland (forum switzerland). The chairman's compensation is approved by the managing board of forum switzerland in line with approved remuneration guideline. The vice-chairman's salary is initially set based on a survey of comparable positions and in consultation with independent outside experts including an executive search firm and executives from the world economic forum in switzerland. It is then ratified by the board of directors and has not been changed since ratification. The vice-chairman recuses himself during board discussions relating to his compensation. The vice-chairman does not receive any performance-related bonus or similar form of compensation. For the other officers, the compensation process is led by the vice-chairman. Initial salary levels are set based on a survey of comparable positions and in consultation with independent outside experts including an executive search firm and executives from the world economic forum in switzerland. Performance is assessed on an annual basis through an organization-wide formal review process which is used to determine any applicable performance related bonuses.”

“No documents related to governance documents, conflict of interest policy and audited financial statements have been made available to the public during fiscal year 2016.”

“The world economic forum usa is an independent non-profit organization committed to improving the state of the world by engaging industry leaders in partnerships to shape global regional and industry agendas. We are the north american affiliate of the world economic forum, a non-profit foundation headquartered in geneva, switzerland. The world economic forum usa acts as a centre for global industries for our industry partners, select member companies that strongly support the forum's mission to drive relevant and sustainable change for business and society. Together, these partners identify, discuss and address their sector's critical issues through industry-specific initiatives, projects and task forces, as well as actively contribute to the world economic forum annual meeting in davos-klosters, switzerland, and regional events. The world economic forum usa specializes in supporting our global membership and participants at our many regional events throughout the year, and at our annual meeting in davos-klosters, switzerland. In addition, the forum usa organizes numerous high-level meetings in new york each year to support the work of our constituents. This includes the annual industry partnership strategy meeting, which brings together select member companies that are actively involved in the forum's mission at the industry level.”

“Description:fee for program services total fees:13284307”

“Description:consulting fees total fees:938877”

“Description:investment charges total fees:173529”

“Description:payroll fees total fees:97823”

“Description:bank fees/service charge total fees:13101”

“Description:misc. Total fees:2740”