Focused Ultrasound Foundation

“A copy of the tax return is reviewed and approved by board members prior to filing.”

“Board members are required to complete a conflict of interest disclosure form annually. Standards and procedures: (a) the board of directors shall determine by majority vote, whether the disclosure shows that a conflict of interests exists or can reasonable be construed to exist. (b) the board of directors may request the person to provide factual information regarding the potential or actual conflict of interests and such proposed contract, transaction, or arrangement. (c) if deemed appropriate, the board of directors may appoint a non-interested person or committee of subcommittee to investigate alternatives to such proposed contract, transaction, or arrangement. (d) if a conflict of interest is deemed to exist, the person having the conflict of interests shall not participate or attend, vote on, or use his or her personal influence in connection with the discussions, deliberations, or vote with respect to such contract, transaction, arrangement, or related matters affecting the foundation. (e) at any meeting of the board of directors where such contract, transaction, arrangement, or related matters are under discussion or are being voted upon, a quorum is present if a majority of directors who have no direct or indirect personal interest in such contract, transaction, or arrangement participate in the vote held to authorize, approve, or ratify such contract, transaction, or arrangement. (f) in order to approve such contract, transaction, or arrangement, the board of directors must first find, by majority vote without counting the vote of the interested director or directors, that (i) the proposed contract, transaction, or arrangement is in the foundation's best interest and for its own benefit: and (ii) the proposed contract, transaction, or arrangement is fair and reasonable to the foundation. (g) the minutes of the meeting shall reflect the disclosure made, the persons present for the discussion and vote, the content of the discussion, the vote thereon (including any roll call), and, where applicable, the abstention from voting and participation, and that a quorum was present. The foundation shall keep minutes of the discussions and deliberations as part of the minutes of the foundation. Corrective and disciplinary action: the violation of this conflicts of interest policy is a serious matter and may constitute "cause" for removal or termination of a director, officer, or employee.”

“An independent salary assessment is obtained and the board appointed compensation committee approves the compensation for this individual.”

“Financial statements and governing documents are available to the public on the foundation's website, charity navigator, guidestar, and upon request for the same period of disclosure as set forth in section 6104(d).”