American Brain Foundation

“The CFO undertook extensive review the draft Form 990 as initially prepared by the Finance Business Manager. Their review was thereafter augmented by exempt organizations Tax/Legal Counsel. This Form 990 was then presented to the Audit Committee by the CFO and other members of the management team. The Audit Committee reviewed the Form 990 and identified any agreed upon changes to be made. In line with Minnesota Law, the final Form 990 was approved by the Board of Trustees; thereafter, the final as-filed Form 990 will be brought to the Board for discussion at a full meeting of the Board of Trustees. At that time, the completed overview of this Form 990 will be provided to the Board by the CFO. Form 990 is filed subsequent to this process.”

“The Foundation's conflict of interest policy covers individuals serving as an officer, director, committee member, or positions of official responsibility or leadership. All covered individuals are required to complete a relationship disclosure statement annually, or as changes in personal circumstances occur. The statements are reviewed and actions determined according to the Foundation's hierarchy based on position; or by the Executive Committee if a resolution cannot be made. Potential conflicts are handled on an individual basis. Actions taken depend on the severity of the conflict which include no action required, on-going monitoring with appropriate disclosure, or withdrawal from the conflicting relationship. Conflict of interest proceedings are documented in meeting minutes or as appropriate.”

“In 2014, the Foundation's Executive Director was leased to the Foundation from the American Academy of Neurology. The American Academy of Neurology's Board of Directors utilizes a Compensation Committee to set compensation for the Executive Director; that Committee employs the procedures (use of independent consultant, written employment contracts, compensation survey and approval by board) inquired of here and last set compensation amounts in 2014. The Executive Director is charged with setting compensation for employed Officers and Key Employees and in doing so compensation survey results are utilized.”

“The Foundation makes its financial statements and bylaws available to the public on its website. The Foundation does not make its other governing documents (e.g. articles of incorporation) nor its COI policy available to the public.”