Project Management Institute Educational Foundation

“Per the organization's bylaws, the project management institute educational foundation ("pmief") board of directors shall include five (5) representatives, appointed by the project management institute ("pmi") board of directors, a tax-exempt organization under internal revenue code section 501(c)(6). The directors appointed by the pmi board of directors shall always constitute a majority of the pmief board of directors.”

“The form 990 was distributed electronically to the governing body for review prior to filing. The process included the opportunity for members of the governing body to submit questions/comments electronically.”

“The pmief conflict of interest ("coi") policy requires that the questionnaire and certification be completed accurately on an annual basis and returned to the sponsor at pmief headquarters. (the questionnaire should be updated during the year if circumstances change substantially.) pmief member and non-member volunteers and staff members are expected to be aware of all corporate, personal, and family business interests and relationships that may involve or relate to pmief in any way. Pmief member and non-member volunteers and staff must openly and accurately reveal these interests and relationships to pmief in the questionnaire, and must comply with all pmief policies and requirements concerning ethics, conflicts of interest, and related matters. Upon request, pmief can provide a list of companies, organizations, and individuals with whom the institute has, or is considering, a business relationship.”

“Project management institute educational foundation (pmief) has no employees and does not compensate any listed persons. However, top managment officials were compensated by a related organization, project management institute (pmi). Pmi utilized broad pay ranges that encourage growth and development within positions over time. Broad bands are reviewed annually with market information and may be adjusted if warranted within the financial condition of the organization and to sustain competitiveness. Applicable market data is used in the determination of base salaries, with attention to market sensitive technical competencies and pmi as a whole. Compensation review is part of the organization practice to regularly assess compensation programs and systems. Pmi engages the assistance of external consulting resources to conduct assessments of compensation. Comprehensive studies have been undertaken every two to three years with annual review of base salary and total cash compensation for select positions. The ceo actively reviews compensation philosophy, assesses salary data on an annual basis, and has conducted comprehensive studies of compensation every two to three years. The assessments include direct and indirect compensation, as well as market-based comparisons to comparable professional societies and organizations, broad non-profit industry data, and other survey information aligned with the nature of the positions. Those with similar size, scope of operations, international activies, and/or similar member programs are included along with geographic information related to the market in which the organization competes for talent.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Some governing documents, policies, and financial statements are available on the organization's website.”

“Unamortized discount for grants payable (1,084) refund of contributions received in prior years (1,057,553) ------------ total ($1,058,637) the foundation's endowments consist of contributions from chapters for the foundation's endowment. During the year ended december 31, 2021, the foundation entered into amended and restated agreements with some chapters to return endowment amounts of $1,057,553, which are reflected as decreases of net assets with donor restrictions.”

“The organization has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of the independent accountant.”