Purdue Research Foundation

“The Executive Committee shall consist of 7 members: 4 members of said committee shall be nominated by the Chair and elected annually by the Board of Directors from the membership of said Board, provided that no more than two (2) may be Group Two directors. Such members of said Committee shall serve for one year and until their successors are duly elected and qualified. The President shall be a member ex-officio of said Committee with full voting rights, and the Chair and Vice-Chair shall also be members of said Committee, with the Chair serving as the chair of said Committee. The Executive Committee has general oversight of all questions affecting the policy, property, and functions of the Foundation subject to the control and direction of the Board of Directors. During intervals between Board meetings, the Executive Committee may exercise all authority of the Board of Directors in the management of the Foundation, except as limited by the Board of Directors.”

“Scott Niswonger and Brian Edelman - Business relationship”

“During the fiscal year ended June 30, 2021, the organization amended their articles of incorporation to change the number of Directors on their Board of Directors from 15 to 16.”

“The Form 990 will be completed annually after the audit is complete. The company's President and Chief Financial Officer will review the Form 990 with the Company's Finance and Audit Committee. After resolving any questions or updates, the Form 990 will be presented to the board members. All questions and concerns of the members of the board will be addressed by the Chief Financial Officer and incorporated into the Form 990 as appropriate. After all input has been appropriately addressed, the Form 990 will be filed by the due date.”

“A conflict of interest questionnaire is completed annually by all employees and board members. Any conflicts of interest are investigated by the human resources department. If a conflict of interest is established, human resources will establish safeguards to protect all parties involved.”

“The president of the Board in discussions with the Board members determines and recommends the compensation of the president of the Foundation using comparability data from similar foundations . The salary is then approved as a part of the annual budget process and documented in the board of director minutes. The budget was reviewed by the board and approved in 2021.”

“The purdue research foundation 's president reviews and approves the routine & non routine suggested salary increases. All salaries are also reviewed by the finance/audit committee during the course of the overall budget preparation and then sent to the full board for approval. Purdue research foundation uses comparability data from similar foundations and universities in determining the salaries for employees. The approval of the salaries is documented in the board of directors minutes as a part of the annual budget approval. The budget was reviewed by the board and approved in 2021.”

“The governing documents and financial statements are available to the general public upon request to Purdue Research Foundation. The conflict of interest policy is not available to the public at this time.”

“Miscellaneous income - Total Revenue: 500279, Related or Exempt Function Revenue: 500279, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;”

“Transfers to Affiliates - -291642;”