National Engineers Week Foundation

“The organization does not have committees with authority to act on behalf of the governing body.”

“A draft of the form 990 is reviewed by the organization's board of directors prior to being filed with the internal revenue service.”

“Disclosure should be made according to discovere standards. Transactions with related parties may be undertaken only if all of the following are observed: 1) a material transaction is fully disclosed in the audited financial statements of the organization 2) the related party is excluded from the discussion and approval of such transaction; 3) a competitive bid or comparable valuation exists; and 4) the organization's board has acted upon and demonstrated that the transaction is in the best interest of the organization. Staff disclosures should be made to the chief executive (or if he or she is the one with the conflict, then to the board or designated committee), who shall determine whether a conflict exists and is material, and if the matters are material, bring them to the attention of the board or designated committee. Disclosure involving directors should be made to the board or designated committee. The board shall determine whether a conflict exists and is material, and in the presence of an existing material conflict, whether the contemplated transaction may be authorized as just, fair, and reasonable to discovere. The decision of the board on these matters will rest in their sole discretion, and their concern must be the welfare of discovere and the advancement of its purpose.”

“Annually the board of directors will conduct a performance review prior to year-end. At that time they will use several compensation comparability sources such as nonprofit times nonprofit organizations salary & benefit report authored and administered by bluewater nonprofit solutions; association compensation & benefits study by the asae foundation; and peo justworks mineral salary compensation tool. After utilizing these sources to help review and determine compensation, it is then approved by the board.”

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

“Consulting fees: program service expenses 292,262. Management and general expenses 14,290. Fundraising expenses 24,767. Total expenses 331,319. Photography & videography: program service expenses 5,600. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,600. Fundraising fees: program service expenses 0. Management and general expenses 0. Fundraising expenses 7,832. Total expenses 7,832. Event production & management: program service expenses 273,852. Management and general expenses 0. Fundraising expenses 0. Total expenses 273,852.”