National Inventors Hall of Fame Inc.

“Invent now, inc. Receives a copy of form 990 to review before the form is filed. Form 990 is first reviewed by the cfo and the finance committee for completeness and accuracy. Form 990 is then made available to the board members for review and comments.”

“The policy is annually reviewed and signed off by the board of directors to ensure it is relevant, up to date, and in compliance with applicable law. If a conflict would come up during the year, the board member must disclose the conflict and refrain from voting.”

“Compensation of the organization's officers and key employees is reviewed and approved by the ceo. Compensation of the organization's ceo is reviewed and approved by the board of directors or the executive committee of invent now, inc. The review process is completed to ensure that compensation recommendations and decisions made are well justified, reasonable and documented. The compensation is determined by using comparable compensation for similary qualified individuals in comparable positions. The compensation decisions are documented and maintained to reflect the deliberations and decisions regarding the compensation arrangement. The individual is not present when the board of directors votes on his or her compensation.”

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

“During 2014 the organization piloted a new program called invention project. Invention project (ip) is targeted toward middle school students and is a perfect merging of stem, innovation and entrepreneurship. Students involved in ip will receive personalized invention challenges to ignite their creativity and ingenuity. In a grand finale, they will receive their own programmable robot.”

“Camp/club regional coordinators: program service expenses 797,277. Management and general expenses 0. Fundraising expenses 0. Total expenses 797,277. Camp/club directors: program service expenses 1,384,530. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,384,530. Camp/club instructors: program service expenses 2,223,757. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,223,757. Camp/club counselors: program service expenses 775. Management and general expenses 0. Fundraising expenses 0. Total expenses 775. Camp/club leadership interns: program service expenses 785,663. Management and general expenses 0. Fundraising expenses 0. Total expenses 785,663. Consulting fees: program service expenses 356,895. Management and general expenses 719,257. Fundraising expenses 0. Total expenses 1,076,152.”

“The organization's finance committee along with the cfo assumes responsibility for oversight of the audit and selection of the independent accountant. This process had remained the same since prior year.”