Altarum Institute

“Process used to review the form 990: 1. Irs form 990 is prepared externally by altarum's tax accounting firm. The process is managed by the office of the chief financial officer. With appropriate guidance from the tax accountants, information gathering, and reporting is primarily conducted by the chief financial officer and director of financial reporting. As part of the information gathering process, the chief financial officer and director of financial reporting work with altarum institute officers and other managers as necessary. 2. The chief financial officer presents the completed draft form 990 to the altarum institute board of trustees to review. Once reviewed and approved by the board of trustees for submission, the chief financial officer is notified that the form is ready for submission to the irs. 3. The chief financial officer instructs the external tax accountants to finalize the irs form 990 and present it for signature and filing with the irs.”

“Monitoring and enforcement of compliance with conflict of interest policy annually, each member of the board of trustees and every executive must complete and submit a disclosure form to the secretary (and general counsel). Included in the disclosure form is any employment, board membership, compensatory arrangements, material interests, etc. With other entities. The secretary inputs all of the information into a database so that material transactions can be checked against all of the data provided in the disclosure forms. Also, pursuant to policy, the board members and executives have to disclose any interests in or relationship with an entity that altarum is pursuing a transaction with (at the time of the board member or executive becoming aware of the potential altarum relationship). Upon the identification of a potential conflict of interest, the interested person must disclose all material facts, and the disinterested board members (in the absence of the interested person) discuss and vote upon whether or not an actual conflict of interest exists. If a conflict of interest exists, then alternative transactions or arrangements will be investigated by appointed disinterested persons or a committee. If an alternative transaction without conflict is not reasonably possible, the disinterested members of the board determine whether or not the conflicted transaction is in altarum's best interests and determine if the terms of the transaction are fair and reasonable. Upon a conflict of interest occurring that was not disclosed, the interested person must explain the alleged failure to disclose. After considering the explanation and conducting any necessary further investigation, the board will take appropriate disciplinary and corrective action.”

“The talent and compensation committee and board of trustees met in the second quarter for the purpose of reviewing, determining and/or endorsing compensation for the non-president and ceo executives of altarum institute, all in consultation with an independent compensation consultant (and the president and ceo). The committee and board, as applicable, evaluate the reasonableness of the amount and conformity with altarum institute policies. Review of prior year total compensation also occurred at the second quarter meeting. Information considered as part of the review, determination, and/or endorsing of compensation includes the market compensation data report prepared by an independent compensation consultant, including peer group data and employee performance evaluation data.”

“Process for making documents available to the public: all available upon request”

“Subcontract fees: program service expenses 4,589,730. Management and general expenses 3,140,293. Fundraising expenses 182,198. Total expenses 7,912,221. Consulting: program service expenses 1,049,596. Management and general expenses 718,133. Fundraising expenses 41,666. Total expenses 1,809,395. Work order labor: program service expenses 153,993. Management and general expenses 105,362. Fundraising expenses 6,113. Total expenses 265,468. Honoraria/ incentives: program service expenses 68,885. Management and general expenses 47,131. Fundraising expenses 2,735. Total expenses 118,751.”

“Gain from subsidiaries 1,440,964.”

“Process has not changed from the prior year.”

“The $9,066,984 prior period adjustment is for an adjustment to the investment in subsidiaries to actual income/(loss) from subsidiaries.”

“Single audit completed in accordance with uniform guidance”