American Brain Foundation

“The American Brain Foundation revised language about ex-officio, non-voting members of its board of directors and the voting rights of these positions. Additionally, the American Brain Foundation updates its bylaws to include the position of Chair Elect, which will perform duties as assigned by the Chair or Board of Directors and prepare to become Chair immediately following the last term of the current Chair.”

“The CFO undertook extensive review of the draft form 990 as initially prepared by the Staff Accountant. 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 is presented to and approved by the Board of directors. The 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 are required to complete a relationship disclosure statement annually, or as changed 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 proceeding are documented in meeting minutes or as appropriate”

“The American Brain Foundation leases all employees from the American Academy of Neurology (AAN) through a contractual arrangement. This arrangement included, as of 2023, the Foundation Executive Director being leased through AAN. The ABF's Board of Directors is responsible for hiring and setting the compensation for the Executive Director. The Board employs procedures (use of independent consultant, compensation survey, and no involvement of any persons with conflict of interest) and last set compensation amounts in 2023”

“the Foundation makes the most recent three years audited financial statements and IRS Form 990 available to the public on its website. The Foundation does not make its other governing documents (e.g. articles of incorporation) nor its Conflict of Interest policy available to the public.”

“Further explanation of the $569K listed for Part IX, Line 11g: Marketing and advertising services in the amount of $453K, staffing consulting and search firm paid in the amount of $100K, program evaluation consultant paid in the amount of $14K, and meeting consultant paid in the amount of $2K.”

“Grant refunds and forfeitures from prior years”