Nsf International

“Prior to the filing with the irs, a completed copy of the current year form 990 is posted on the board of director's website. All board members have access to the form 990 and can download and review the document. The audit/finance committee (comprised of members of the board of directors) is responsible for monitoring this process and for confirming that form 990 is posted to the website in a timely manner.”

“Each year, all officers and directors must state in writing any potential conflicts of interest that they might have. These documents are kept as a part of the permanent records and all potential conflicts are reviewed by the human resources team. In addition, all employees are required to undergo an online training course annually. As part of this training course, all employees are reminded of the conflict of interest policy, and are required to report any conflicts of interest to the human resources department.”

“Each year during the january board meeting and after the publication of the prior year financial results, the compensation committee (comprised of members of the board of directors) reviews the compensation of all corporate officers and board members and recommends adjustments to compensation as necessary. The full board of directors reviews the recommendations of the compensation committee and approves adjustments to compensation, if deemed appropriate. This compensation review/recommendation/approval process was last done in january 2017. In addition, compensation studies are performed periodically by an outside firm to assist the compensation committee in the review of officer's compensation. The last compensation study was performed in june 2016.”

“The organization's governance documentation, the conflict of interest policy, and financial statements are all available to the public upon request.”

“Nsf international commenced on 1/1/2017 a new certification program of auto parts sold to consumers in the after-market. The program revenue is insignificant in comparison to the total revenue and not expected to be a significant portion of our business.”

“Subcontract labor fees: program service expenses 15,689,415. Management and general expenses 0. Fundraising expenses 0. Total expenses 15,689,415. Purchased services: program service expenses 14,952,350. Management and general expenses 0. Fundraising expenses 0. Total expenses 14,952,350.”

“Gaap adjustments for foreign subs 501,611.”

“During the preparation of the 2017 form 990, it was discovered that the following amounts were erroneously omitted from the 2016 form 990: foreign currency transactions $1,339,184 foreign currency translation $237,134 asset impairment $5,784,204 severance and serp expense $2,745,538 corporate income tax $680,472 withholding tax $668,259 state income tax $2.295 gaap adjustments $2,044,453 total $13,501,539”