The Institute for New Economic Thinking

“Rjs associates and consultants llc provides management services to the organization, including strategic oversight, financial management, and organizational guidance under a contractual agreement.”

“The organization has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared it is reviewed by management prior to filing with the internal revenue service. A copy is provided to the board after the filing of the return.”

“The directors, officers and key employees of the organization owe a duty of loyalty to the organization which requires that in serving the organization they act, not in their personal interests or in the interests of others, but rather solely in the interests of the organization. A conflict of interest may arise when a person has an existing or potential financial interest or other material interest that impairs, or might appear to impair his or her independence or objectivity in the discharge of responsibilities and duties to the organization. Each director, officer and key employee of the organization shall promptly disclose any direct or indirect financial or other material interest which he or she has or reasonably expects to have in any proposed or existing arrangement with the organization prior to the start of any negotiations with respect to such matter. A direct or indirect financial interest required to be disclosed under this policy shall be disclosed in writing to the board of directors. Such disclosure shall include all material facts and supply any reasons why the arrangement might be or not be in the best interest of the organization. Each year, each director, officer, key employee and member of the academic council shall acknowledge his or her familiarity with this policy and (i) each director, officer and key employee shall disclose in writing to the board of directors any existing direct or indirect financial or other material interest or grantmaking interest subject to this policy and (ii) each member of the academic council shall disclose any grantmaking interest subject to this policy, by completing the attached conflict of interest disclosure statement. The conflict of interest disclosure statements shall be reviewed by the board of directors. The conflict of interest disclosure statements shall be retained in the confidential files of the president.”

“The board of directors approves the compensation for the ceo, officers, and key employees. In 2022 a decision was reached to initiate a layoff and to reduce compensation across to key employees to preserve the organizations cash. This is documented in the novemeber 3, 2022 organizations board minutes. The organization does not provide annual pay increases.”

“The organization makes its form 990, governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Consultants: program service expenses 433,752. Management and general expenses 150,682. Fundraising expenses 42,333. Total expenses 626,767. Payroll services: program service expenses 22,668. Management and general expenses 849. Fundraising expenses 768. Total expenses 24,285. Research and translation: program service expenses 181,051. Management and general expenses 22,666. Fundraising expenses 148,764. Total expenses 352,481.”

“GRANT REFUNDS 27,601.”

“The organization has a committee that assumes responsibility for oversight of the audit of inet financial statements and selection of an independent accountant for this process. This process has not changed from the prior year.”