Fannie and John Hertz Foundation

“The purposes or purposes clause in the articles of incorporation shall be the same as the purpose or purposes clause in the bylaws. The articles of incorporation were amended january 9, 2015, to delete the words "if called upon by the united states government." article ii, section 5 of the bylaws shall be rewritten to delete these words. The bylaws are in the process of being updated.”

“The draft of the form 990 was e-mailed to each director on september 13, 2014, and distributed to each director at the october 17, 2014 board meeting for discussion and comments. Last year in september 2013, the draft of the form 990 was distributed to each director for discussion and comment at the october 2013 board meeting. Each director was provided ample opportunity to comment on the information contained in the form 990 prior to its filing with the internal revenue service. Each director received a final copy of the form 990 by e-mail. The form 990 is posted on the foundation's website, www.hertzfoundation.org.”

“Each director, officer, and employee of the foundation shall sign an annual disclosure statement affirming that the person has received a copy of the conflict of interest policy, has read and understood the policy, has agreed to comply with the policy, and discloses any direct or indirect affiliations. All annual disclosure statements shall be submitted to the president of the foundation prior to the first meeting of the board of directors in the following year. This process was last undertaken in march 2015.”

“The president's, the ceo's, the cfo's and the staff's compensation is determined by comparison to equivalent positions in equivalent non-profit organizations in northern california using a salary survey of several hundred charities. The president prepares a salary adjustment package based on comparison of both job content and present compensation which is submitted to the finance committee for modification and then accepted or further modified by the board. This process was last undertaken in march 2015.”

“The foundation's irs form 990 and the independent audit report and financial statements are published on its website at www.hertzfoundation.org. The governing documents and conflict of interest policy are distributed to the board members and employees. They are not ordinarily made available to the public, but, if requested, will be provided at management's discretion.”

“Of the national academies of sciences, engineering, and medicine; a turing award winner, fields medalist, and national medal of science winner. The research work conducted by fellows during their phd and after have led to significant breakthroughs and innovations that have fueled the us economy and addressed global problems in health, engineering, national and cyber security, and the environment. Recently, the foundation's programs have expanded beyond tuition, stipend and mentoring support during the phd years and now provide all fellows a lifetime of networking and specialized educational experiences through retreats, an annual summer workshop and informal gatherings around the country. The majority of the costs of such activities are funded through gifts from fellows and other donors. Already several new company and research collaborations have resulted from these programs.”

“The process has not changed from the prior year.”