Foundation for Prader-Willi Researchinc

“Foundation for prader-willi research inc. 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, reviewed by management and is ready to be filed with the internal revenue service, it is circulated among board members with an explicit deadline for which any comments must be submitted by. After all comments are addressed, the form 990 is electronically filed with the irs.”

“The board members review and discuss the conflict of interest policy annually at a board meeting. The governing board or delegated committee is responsible for determining and reviewing conflicts of interest. Board members and principal officers are required to self disclose and the board has an additional governance committee. Each member and principal officer is then required to sign the disclosure form at the meeting noting conflicts. An interested person may make a presentation at the governing board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest.”

“The process for determining the compensation of the ceo included the use of comparability data, and included review and approval by the executive committee of the board. The process was documented and last undertaken in 2019. Compensation increases for other staff are recommended by the ceo to the executive committee, who reviews and approves these increases.”

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

“Refund of grant expense 203,019.”

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

“The organization contracted with a professional employer organization (peo) for services, including but not limited to, payroll, timekeeping, employee benefits, hr administration and workforce regulatory compliance needs. As the employer of record for tax purposes, forms w-2 and w-3 are issued by the peo and filed under the peo's federal ein. In this co-employment arrangement, the organization is the common law employer and, accordingly, compensation is reported on form 990, part vii, section a and part ix, lines 5-10.”