The Education Center at the Watson

“The sole member of the education center at the watson institute is the watson institute.”

“The watson institute appoints the executive committee of the board of trustees and the ceo of the education center at the watson institute. The watson institute also nominates the candidates for the board of trustee for the education center at the watson institute.”

“The watson institute has the following expressly reserved powers: review and approval of the capital and operating budgets. Approval of capital expenditures in excess of an established amount as may be set from time to time. Approval of bylaws and any amendments thereto and to the articles of incorporation. Approval of any corporate borrowings or any placing of encumbrances on assets, any sales or leases of corporate property or any other actions not in the ordinary course of business. Approval of any plan of merger, consolidation, division, or dissolution.”

“An electronic copy of form 990 is provided to the finance committee (7 members) prior to being filed with the irs. The finance committee has been delegated the duty to review form 990 by the entire voting membership of the board. Issues or discrepancies are investigated with management and brought to the attention of the entire board when necessary. A follow-up finance committee meeting follows the distribution of the electronic copy for the finance committee to give final approval for the filing of form 990. Form 990 is available to any board member upon request throughout this process.”

“A copy of the conflict of interest policy and disclosure statement are sent to the board members annually and are monitored for return.”

“Executive compensation is reviewed annually by the board of trustee's executive committee. Organizational goals are set annually for each member of the senior management team. These goals coincide with the fiscal year so that at the end of the fiscal year evaluations are completed on each member of the team. Compensation decisions are then based on the accomplishments of the annual organizational goals.”

“The education center at the watson institute makes its form 990 and form 1023 available to the public upon request.”

“At this time, the education center at the watson institute does not make its governing documents, conflicts of interest policy and financial statements available to the general public .”

“Board member marilyn hoyson is the former coo. Marilyn joined the board after her retirement in december 2022. The compensation being reported for marilyn is from a deferred compensation payment received during calendar year 2023.”

“Retirement allocation -67,692. Change in unrecognized losses and amortization of prior service cost 825,701.”

“The education center at the watson institute has a finance committee that is responsible for the oversight of the audit and selection of the independent auditors. The process has not changed from prior year.”