Pittsburgh Tissue Engineering Initiative Inc

“10 directors and trustees for the organization are employees and/or officers for the related organizations provided on schedule r.”

“The form 990 is reviewed by the controller with the executive director. The executive director then reviews the 990 with the governance and compensation committee. A final copy of the 990 is then provided to the board.”

“Disclosure: in connection with any actual or possible conflict of interest, an interested person must disclose the existence and nature of his or her financial interest to the directors and any relevant committee members. For this purpose, an interested person shall include any director, officer, or member of a committee of the corporation or an entity affiliated with the corporation who has a direct or indirect financial interest in a proposed transaction. A financial interest shall include: (a) an ownership or investment interest in any entity with which the corporation has a proposed transaction or arrangement; (b) a compensation arrangement with the corporation or with any entity or individual with which the corporation has a proposed transaction or arrangement, subject to the exception below; and (c) a potential ownership or investment interest in, or compensation arrangement with, any entity or individual with which the corporation is negotiating a transaction or arrangement. A director or member of a committee shall not be deemed to have a possible conflict of interest (a) by reason of serving, or having served, on the board of directors of any corporation affiliated with the corporation or (b) by reason of being a director or employee of, or having another affiliation with, any organization that is supported by the operations of the corporation and named as such in the articles of incorporation of the corporation, provided that the proposed transaction does not include funding of research to be undertaken by the director or committee member personally or supervised by the director or committee member personally. Recusal and investigation: after disclosure of the financial interest and any appropriate explanation by the interested person, the interested person shall leave the board or committee meeting while the financial interest is discussed and voted upon. The remaining directors or committee members shall decide if a conflict of interest exists. If a conflict of interest exists, the following procedures shall be followed: (a) the chair shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement; (b) after exercising due diligence, the directors or committee shall determine whether the corporation could obtain a more advantageous transaction or arrangement with reasonable efforts from a person or entity that would not give rise to a conflict of interest; and (c) if a more advantageous transaction or arrangement is not reasonably attainable, the directors or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the corporation's best interests and for its own benefit and whether the transaction is fair and reasonable to the corporation and shall decide as to whether to enter into the transaction or arrangement in conformity with such determination. Any recommendation of research funding by the appropriate committee shall be deemed to satisfy the requirement for investigation. Failure to disclose: if a director or committee member has reasonable cause to believe that an interested person has failed to disclose actual or possible conflicts of interest, he shall inform the interested person of the basis of such belief and afford the interested person an opportunity to explain the alleged failure to disclose. If, after hearing the response of the member and making such further investigation as may be warranted in the circumstances, the directors or committee determine that the interested person has in fact failed to disclose an actual or possible conflict of interest, the directors shall take appropriate steps to protect the corporation. Record of actions: the minutes of the board and all relevant committees shall contain the following (a) the names of persons who disclosed or otherwise were found to have a financial interest in connection with an actual or possible conflict of i”

“An annual review is conducted with the employee and direct supervisor. The review is signed and compiled for the executive director. The executive director and controller discuss each review and make a recommendation to the governance and compensation committee. During the governance and compensation committee meeting, the recommendations are reviewed by employee and their compensation is determined. The committee recommends the compensation to the board for approval.”

“This information is made available upon request.”

“Each board member was contacted via e-mail requesting salary information. For the current fiscal year, the directors did not provide reportable compensation from related organizations.”

“The board of directors of ptei formally adopted a wind-down plan for ptei's operations during the 17 month period beginning 7/1/2012 and ending 11/30/2013. Due to this wind-down plan there are no financial statements for the period beginning 7/1/2013 and ending 11/30/2013. An audit was performed and financial statements were issued for the entire 17 month period.”

“Write-off of donated research equipment -31,541.”