Ulse Inc (Fka Uls Inc)

“Underwriters laboratories inc. Is the sole member of the organization. The organization does not have capital stock or any stockholders.”

“The sole member of the organization is not elected. The sole member of the organization has the right to elect the members of the organization's governing body, which is the board of directors.”

“Under the law of the state of incorporation, in addition to the election of the members of the organization's governing body, certain actions such as complete dissolution of the oganization would be subject to approval by the sole member.”

“The form 990 tax return is prepared internally by tax accountants in the organization's tax department. A draft of the return is initially reviewed by the tax director, then the department's vice president, after which it is sent to the organization's outside professional accounting firm for an independent review. It then goes through final review for signature by the senior vice president/chief financial officer of the organization. The professional accounting firm also signs off on the return as the paid preparer of the return. A copy of the tax return is also made available to the company's board members prior to the filing date.”

“Ulse inc. Requires its directors and officers to sign off on a certification of compliance to the organization's standards of business conduct as well as a declaration of compliance with the organization's conflict of interest policy on an annual basis. Additionally, the organization requires all of its employees to undergo ethics training and sign a certification of compliance on an annual basis. The directors are required to provide annual disclosure of any conflicts or potential conflicts.”

“The process of determining compensation for the executive director, all officers and key employees of the organization is performed annually. An independent compensation consultant completes an analysis of comparable and competitive market data with data assistance from underwriters laboratories inc.'s hr/compensation group. It covers top management officials of the organization, including elected officers through vice presidents. The analysis is reviewed by the compensation committee of the board of trustees, who provides final approval of all compensation arrangements. The ceo and svp of hr are present in all compensation committee meetings but recuse themselves for discussion of their compensation. In addition, the organization follows the procedures under treasury regulation section 53.4958-6 to meet the rebuttable presumption of reasonableness for all transactions with disqualified persons.”

“PLEASE SEE ABOVE.”

“The by-laws of the organization are printed as a brochure and made available to the public upon request.the delaware certificate of incorporation can be obtained by anyone who requests it through the delaware secretary of state's office. The organization does not make its conflict of interest policy and financial statements available to the public. In addition to being available by request from the organization, the form 990 is also available at guidestar.org.”

“The organization changed its name from ULS, Inc. to ULSE Inc. in June 2022. A certified copy of the Certificate of Amendment evidencing the change has been attached to this 2021 Form 990.”

“Ulse inc. Translates scientific discoveries into standards and policies that have the power to make a systemic impact on public safety throughout the world. Distinguished by our independent research and informed foresight, we've been translating cutting-edge science into practical standards since 1903. Our extensive library of standards helps to make everyday things safer, more secure, and more sustainable, from life jackets to batteries to autonomous cars.”

“Sale of Shares from UL Inc.: (398,567,883) Restructuring Transactions: 30,207,320 FMV of Donated Assets: (7,632,896,943) Total Part XI Line 9 (8,001,257,506) The reconciling items are a result of the audited financial statement reporting under the guidelines of ASC805, accounting for business combinations. On November 30, 2021 Underwriters Laboratories Inc. transferred its safety standards development, maintenance and distribution activities and related assets to ULSE Inc. (formerly ULS Inc.) to carry on in furtherance of its tax-exempt purposes. Underwriters Laboratories Inc. also transferred ownership of its wholly owned subsidiary, UL Solutions Inc. (formerly UL Inc.), to ULSE Inc. Underwriters Laboratories Inc. sold a portion of the UL Solutions Inc. stock to ULSE Inc. for fair market value as determined by an independent third party valuation. Underwriters Laboratories Inc. transferred its remaining UL Solutions Inc. stock and the safety standards assets to ULSE Inc. as a restricted grant, the proceeds of which must be used exclusively for Section 501(c)(3) tax-exempt purposes. Underwriters Laboratories Inc. will continue to engage in scientific research in the public interest to accelerate safety science discoveries and inform public policy and behaviors that will advance the public good around the world. With a focus on research, Underwriters Laboratories Inc. will expand the scale and scope of its research into emerging safety risks in order to make even greater contributions to global safety science.”

“SEE SCHEDULE M”