Onemine Inc

“Sme foundation is entitled to receive all remaining assets upon the dissolution of onemine, inc., making sme foundation a member for 990 purposes. The society for mining, metallurgy and exploration, inc. (sme) is the founder of onemine and a member of onemine for form 990 purposes. The executive director of sme is an automatic voting member of onemine's board and the initial board of directors was selected by sme.”

“The initial board of trustees of onemine, inc. Was appointed by the society for mining, metallurgy & exploration (the founder), a related nonprofit organization. The founder has the ability to appoint trustees as necessary to maintain a board that consists of at least three members. In addition, the founder appoints two of the three members of the nominating committee, which is responsible for procuring trustees to serve on the board.”

“Per the bylaws, certain governance decisions (like increasing or decreasing the number of board members) are subject to the approval of the society for mining, metallurgy, and exploration, a related nonprofit organization.”

“Form 990 is prepared by an independent cpa firm and reviewed in detail by the organization's finance team. The reviewed form 990 is then provided to the board of directors prior to filing with the irs.”

“Process for monitoring compliance with conflict of interest policy: board members receive a copy of the organization's conflict of interest policy as part of their board introduction packet and disclose potential conflicts of interest upon joining the board. Any conflicts thereafter are disclosed as they become known. Board members lacking independence on an issue withdraw themselves from the decision making process. The organization is working on implementing an annual monitoring process.”

“The governing documents, conflict of interest policy and financial statements are available upon request.”

“Staff are compensated by a related organization, the society for mining, metallurgy and exploration, inc. (sme). Sme files all required payroll information returns as required by the irs.”

“Onemine, inc. Shares employees with the society for mining, metallurgy and exploration, inc. (sme), a related organization. Staff are compensated by sme and sme files all required payroll information returns as required by the irs. Onemine reimburses sme for the employees' time related to onemine and the reimbursements are reported on part ix, lines 7-10.”