Sme Education Foundation

“Form 990, part III, line 4d Educational Websites and Events (Inspire), for the purpose of inspiring youth to consider future careers in engineering and manufacturing. Projects funded included the Manufacturing is Cool and CareerME Websites and sponsorship of 3D Printing and Computer-Aided Design projects for middle and high school students.”

“Form 990, Part VI, Line 4 The SME Education Foundation bylaws were amended in 2014. Changes were made in the number of Board members, years in Board term of office, and Committee structure to better align with those of its parent organization, Society of Manufacturing Engineers ("SME").”

“Form 990, Part VI, Line 6 SME is the sole shareholder.”

“Form 990, Part VI, Line 7a All elected Directors are approved by the SME Executive Compensation Committee, and serve at the pleasure of the shareholder, SME.”

“Form 990, Part VI, Line 7b The SME-EF bylaws are reviewed and approved by the SME Executive Compensation Committee.”

“Form 990, Part VI, Line 11 SME and SME-EF's combined audit committee reviews the completed Form 990's before filing, as delegated by the governing bodies.”

“Form 990, Part VI, Line 12c All employees sign a disclosure form when they are hired, and are reminded of the policy annually. If a conflict arises, they are evaluated by the Director of Human Resources and the SME CEO. Corrective action is taken if required.”

“Form 990, Part VI, Line 15a All SME-EF staff are employed by SME, which also provides access to employee benefit plans. SME-EF reimburses SME for its employee costs. Target salary levels for the Director and other management positions are set based upon benchmark studies by compensation consultants. The SME CEO and SME-EF Board President conduct an annual performance review of the SME-EF Director against pre-established objectives and recommend salary merit increases for the coming year. Both the objectives and merit increases are approved by the SME Executive Compensation Committee, after consultation with the SME-EF Board President. Prior year performance is reviewed with these two oversight bodies at year end. Executive incentives (bonuses) are also awarded based upon the Executive incentive plan.”

“Form 990, Part VI, Line 19 SME-EF makes their conflict of interest policy, articles of incorporation, and audited financial statements available to the general public upon request. Normally electronic copies are provided; however, printed copies are also available.”

“Form 990, Part X, Column (A), Lines 27 - 29 The prior year balance sheet was revised from that which was filed with the 2013 Form 990. Subsequent to the filing of the 2013 Form 990, net assets at the beginning of the year were reclassified to correct errors in original classification of donor contributions and charitable gift annuity agreements.”

“Form 990, Part XI, Line 9 Returned Grants and Scholarships: $78,526 Revaluation of Charitable Gift Annuity Obligations: ($278,217)”