Science Festival Foundation D/B/A World Science Festival

“Tracy Day (CEO) and Brian Greene (Chairman) are married.”

“Management reviewed a draft of the form 990 and provided edits to the tax preparer. After this process was performed, the form 990 was sent to the full board of directors prior to being filed with the IRS.”

“The Foundation's outside General Counsel distributes the conflict of interest policy and conflict of interest questionnaire to each officer, director and key employee on an annual basis, and follows up with each individual to ensure that the questionnaire has been completed. Each officer, director and key employee is asked to certify annually that he/she has reviewed the Foundation's conflict of interest policy and has disclosed any potential or actual conflicts on the questionnaire. The outside General Counsel reviews the responses to the questionnaire to determine if there is anything disclosed that should be brought to the attention of the Board. The questionnaires are maintained with the books and records of the Foundation. In addition to filling out the questionnaire, pursuant to the Foundation's policy, each officer, director and key employee is required to alert the other members of the Board if a transaction or fact arises that could be covered by the Foundation's policy after the individual has completed his or her annual questionnaire. If the outside General Counsel identifies any transaction that might present a conflict of interest, actual or perceived, she would confer with the President and Chair to discuss how it should be disclosed to the rest of the Board.”

“A compensation review is done at the time an increase or new hire compensation package is proposed for the CEO or top management. A review of comparable salaries based on a recognized study, information from 990s of other organizations and a review of the performance of the CEO or top management is performed to determine if the proposed salary falls within comparable salary ranges. After a deliberation of this matter, a new proposed salary and benefit package is voted on. The minutes of the board of directors reflect the nature of this process.”

“A compensation review is done at the time an increase or new hire compensation package is proposed for officers or key employees. A review of comparable salaries based on a recognized study, information from 990s of other organizations and a review of the performance of the officer or key employee is performed to determine if the proposed salary falls within comparable salary ranges. After a deliberation of this matter, a new proposed salary and benefit package is voted on. The minutes of the board of directors reflect the nature of this process.”

“Documents are available upon request.”