Federation of State Medical Boards Research & Education Foundation

“The foundation board shall consist of up to fifteen (15) directors (the"directors"), minimum of three (3) of whom shall be elected for three (3) year terms from among the fellows or honorary fellows of the fsmb; one (1) of whom shall be the chief executive officer of the federation of state medical boards (the "fsmb"), one (1) of whom shall be the current chair of the fsmb board of directors, and up to two (2) of whom may be persons elected from the public at large. At no time shall the foundation board consist of less than forty percent (40%) of directors who have been elected by the fsmb board of directors.”

“The form 990 is reviewed by the treasurer, then a copy of the form 990 is provided to and reviewed by the board of directors before the form 990 is filed with the irs.”

“The foundation's conflict of interest policy and its certification is distributed to and reviewed annually by directors, officers, committee members and executive managers, each of whom has a continuing responsibility to evaluate their transactions, outside business interests and relationships for potential conflicts of interest, and to make such disclosures as described in the policy. The foundation board shall annually review the conflict of interest certifications. The disclosures contained therein shall be deemed approved by the board unless an objection is made by one or more directors. Such approval or objection is documented in the minutes of the board meeting. Whenever any individual subject to this policy believes he or she may have a conflict of interest, he or she shall promptly notify the board president or appropriate committee chair of such conflict. When any conflict of interest is relevant to a matter that comes under consideration or requires action by the foundation board or a committee, the director/officer/committee member shall call it to the attention of the board president or appropriate committee chair. After being permitted to make a presentation to the board or committee, the interested party shall recuse himself or herself for the discussion of, and the vote on, the matter. The interested party shall be counted for purposes of a quorum but shall leave the meeting before decisions are made on matters in which he/she has such an interest. The minutes of the meeting of the board or committee document any conflict of interest that was disclosed and that the interested party was not present during discussion or decision on the matter and did not vote.”

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

“Printing and design services: program service expenses 49,398. Management and general expenses 0. Fundraising expenses 0. Total expenses 49,398.”