Sme Education Foundation

“Sme is the sole shareholder of sme education foundation.”

“All elected directors are approved by the sme executive compensation committee and serve at the pleasure of the shareholder, sme.”

“The sme-ef bylaws are reviewed and approved by the sme executive compensation committee.”

“Sme and sme-ef utilize an independent accounting firm to complete the form 990 and related schedules. A detailed review of the federal form 990 was performed by the vice president, finance, and the chief executive officer of sme and sme-ef. When the return was finalized, it was presented to the executive director/ceo for discussion and review, where all comments were addressed. The return was then presented to the sme/sme-ef's combined audit committee of the board of directors for approval, as delegated per the governing bodies. The signed return was made available to all board members prior to filing.”

“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 vice president, human resources and the sme executive director/ceo. Corrective action is taken if required.”

“All sme-ef staff are employed by sme, which also provides access to employee benefit plans. Sme-ef reimburses sme for its employee costs. Benchmark studies have been performed when determining the compensation to be paid to the sme ceo/executive director and all top management. A third party performed an independent assessment using multiple local and national surveys. Target compensation is based on these benchmark studies. The executive compensation committee conducts an annual performance review for the ceo/executive director against previously set objectives. The ceo/executive director conducts an annual performance review of all top management against previously set objectives. Merit increases are awarded annually by the executive compensation committee for the ceo/executive director and all top management, based on performance reviews. Executive incentives are awarded based on the executive incentive plan.”

“Sme-ef makes its conflict of interest policy, articles of incorporation and audited financial statements available to the general public upon request. Electronic and printed copies are both available.”

“Allocation of compensation among organization and related org. The executive director & ceo and vice president, finance provides services to both sme-ef and society of manufacturing engineers, a related organization who also serves as the common paymaster. Additionally, the vice president, sme-ef and educational programs officer perform work solely for sme-ef, but are compensated by society of manufacturing engineers. Compensation for these individuals on part vii, section a and schedule j, part ii has been allocated based off the hours of work performed for each organization.”

“E. To conduct any and all such activities and exercise any and all such powers as are necessary or desirable to the achievement of the foregoing and furtherance of the purposes of the corporation.”

“Revaluation of charitable gify annuity obligations -55,625.”

“Number of employees on form w-3 the number of employees reported (7) corresponds to dedicated sme-ef employees, although all wage/w-3 reporting is solely through sme, the common paymaster. All sme-ef staff are employed by sme, which also provides access to employee benefit plans. Sme-ef reimburses sme for its employee costs.”