Mind Research Institute

“The executive committee of the board meets eight times per year and has broad authority to act on behalf of the governing body.”

“The mind research audit/tax firm and the mind research finance team work together to gather the required information necessary to complete the form 990. The tax firm prepares initial draft form 990, which is reviewed by management as well as the audit committee of the board of directors. Any recommended changes and comments are considered, and the form 990 is updated. After approval by management and the audit committee of the board, a complete copy of the form 990 is distributed to the entire board prior to the filing of the form 990 with the internal revenue service.”

“All officers, directors, and key employees are required to submit annual disclosures regarding any potential conflicts of interests. In the case of a conflict of interest does arise, the individual is recused from the decision-making process. Any conflicts would be presented to the audit committee of the board for discussion.”

“The compensation committee of the board reviews and approves salaries of key officers and employees based on publicly available market data, which is documented in the meeting minutes.”

“Mind research's financial statements are publicly available on its website while other governing documents, and conflict of interest policy, are available to the public, upon request.”

“Brett woudenberg, matthew peterson and mark bodner are employees of mind research institute. They are the difference between the 17 voting members on line 1a verse the 14 voting members on line 1b who are independent.”

“A social benefit organization, mind research institute continues to narrow the achievement gap by primarily serving disadvantaged students in low-performing u. S. Schools and communities. Mind research's visually-based st math instructional software, associated professional development, and related math programs develop deeper understanding and build conceptual knowledge of mathematics. Research also indicates that learning outside of the classroom has a significant impact in child cognitive development and student math achievement in school. Thus, mind research institute provides interactive learning experiences for children and their families outside of school. The k-12 game-a-thon is designed to cultivate and showcase game designs featuring creative unusual solutions to mathematical problems while family math nights provide a way to connect families as they havec onversations and learn together about math.”

“Research is conducted by mind research institute and in collaboration with world-class universities and research institutions. In order to lead the learning revolution, mind research institute publishes its results from its more than 50 innovative research programs in numerous prestigious scientific journals, and abstracts for presentations at national and international scientific conferences.”

“Under the adoption of asc 606 on july 1, 2020, the organization recorded a decrease to the net assets of $1,938,938 as a result of the transition. Asset impariment recorded in fiscal year = -3,811 loss on sublease = -40,250 loss on bad debt = -23,589 total of line 9 = 1,871,288”