International Research and Exchanges Board Inc.

“The organization amended its bylaws during the year in order to expand the limit of the board terms a governor may serve. Additionally, a provision was added for governors who retire from the board to be re-elected.”

“Form 990 was reviewed thoroughly by the organization's treasurer in initial draft and final form prior to filing. The board of directors have authorized the members of the finance committee to review the final copy of the return. The review by the finance committee was conducted prior to filing the form 990. The form 990 was made available electronically to all the members of the board of directors before it was filed with the irs.”

“The board of governors at their november 2010 meeting adopted an annual conflict of interest submission disclosure requirement for each governor. A similar disclosure is required for all members of staff senior management group. In addition, irex has a written conflict of interest policy covering employees. After the annual disclosurers are submitted, they are reviewed by the office to the president (for board members) or the chief of staff (for senior staff). If there is a potential or perceived conflict, the matter is elevated to the president and chairperson of the board (for board members) or the president and chief of staff (for senior staff). If there is a conflict, the person would recuse themselves from any deliberations or decision-making related to the transaction.”

“The president's annual salary increase and award are determined by the chairperson of the board of governors in consultation with the members of the executive committee. Annual salary increases and awards for other officers and key employees are determined by the president based on annually established institutional salary increase ranges for all dc paid employees. Any offficer or key employee awards are determined by the president within the parameters of an employee award plan adopted by the board of governors. Finally all other officer and key employee salary increases and awards (if any) are reviewed by the president with the chairperson of the board. Annually, irex acquires salary survey information from a variety of sources and makes adjustments of salary ranges, if necessary. Deliberations and decisions regarding the determination of compensation, such as salary increases and awards, are contemporaneously documented.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Copies of the financial statements are also available on the irex website.”