Newseum Inc

“In 2015, the newseum's bylaws were amended to reflect organizational changes in the qualifications, duties and composition of the governing body's voting members, as well as the composition and authority of certain positions of the board's officers. Newseum also updated the policies and procedures contained within the bylaws regarding compensation of officers and directors.”

“The newseum institute, inc. Is the sole member of newseum, inc.”

“Newseum institute, inc. Elects all the members of the governing body for newseum, inc.”

“The newseum's audit committee of the board of trustees reviews the federal form 990 in a formal presentation. A representative from the independent accounting firm, who signs the return, attends the meeting, presents the return, and is available to answer any questions. The audit committee presents its report of deliberations to the full board of trustees and makes the 990 available to all members of the board prior to the filing of the federal form 990 with the internal revenue service.”

“Each year, all officers, trustees, and key employees receive a copy of the conflict of interest policy and an indepedence disclosure questionnaire. They are required to complete the questionnaire and submit it to the office of the president and ceo who is responsible for ensuring the return of all questionnaires. The conflict of interest policy provides detail on the procedures to be used in addressing conflicts and any violations of the conflict of interest policy. A copy of the conflict of interest policy is available upon request. Should a potential conflict of interest exist, the chairperson of the board or committee may, if appropriate, appoints a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the board or committee determines whether the corporation can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. In light of the facts and alternatives, the board or committee determines by a majority vote of the disinterested trustees whether the transaction or arrangement is in the corporation's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with such determination the committee make its decision as to whether to enter into the transaction or arrangement.”

“Biannually, the executive committee of the board of trustees retains the services of a third party independent consultant. The consultant conducts an intermediate sanctions compliance analysis for the newseum in efforts to comply with intermediate sanctions legislation. The methodology employed includes collecting base salary and total cash compensation from nationally published survey sources; creating peer groups consisting of similar-sized organizations and analyzing competitiveness of total cash compensation for non-profit organizations (using form 990); collecting current benefit and prerequisite offerings from national published survey sources; utilizing newseum's compensation philosophy to evaluate compensation. The executive committee reviews the intermediate sanctions compliance report in detail and ascertains the reasonableness of the newseum's total rewards based on the third party analysis. The committee then authorizes the use of the safe harbor/rebuttable presumption and approves compensation, all of which is documented in contemporaneous written minutes.”

“The newseum makes its governing documents, conflict of interest policy, financial statements, federal form 990 and 990-t available to the public upon request.”

“Loss on uncollectible pledge -217,184.”