Society for Industrial and Applied

“The society for industrial and applied mathematics (siam) is an international community of over 13,600 individual members; likewise, over 330 academic, manufacturing, research and development, service and consulting organizations, government, and military organizations worldwide are institutional members.”

“Pursuant to the society's bylaws, three trustees shall be elected annually by dues-paying members of siam for three-year terms. Additionally, the president, vice president at large, and secretary shall be elected by the dues-paying membership of siam.”

“The membership votes on any changes in governance.”

“The form 990 was prepared by an independent accounting firm in conjunction with the organization's financial department. A copy of the draft 990 was circulated to the full board of trustees for discussion and comment. Each board member was provided ample opportunity to comment on the information contained in the 990 prior to its electronic filing with the internal revenue service.”

“Each officer, director, trustee, and key employee of siam is required to annually disclose any conflicts of interest that arise by virtue of their employment, board service, or position with siam. Siam monitors compliance with its conflict of interest policy through a semi-annual disclosure statement that is distributed to these individuals. Potential conflicts are investigated immediately.”

“Siam undertakes a thorough process to ensure that the executive compensation paid to its executive director and all officers and key employees is reasonable given the market in which siam operates. In relevant part, the board of directors has established a human resource committee of independent persons with no personal interest in the proposed compensation agreement. On a periodic basis, the human resource committee contracts with a compensation consultant to complete a market assessment and competitive position analysis for siam's top executives. In addition, the human resource committee utilizes comparability and benchmarking surveys to ensure that siam compensates its executives commensurate with the market. The human resource committee then reports their salary decisions for the ceo and key employees to the board.”

“The taxpayer makes its form 990 available to the public by retaining a copy at its place of business. The form 990 is likewise published on the internet at www.guidestar.org. A review of the organization's financial statements is presented at the annual business meeting of siam's membership and is posted on the siam website. Also available on the siam website are the organization's governing documents. The conflict of interest policy is not ordinarily made available to the public, but, if requested, will be made available at management's discretion.”

“The process has not changed from prior year.”