Rice Institute Inc

“The organization does not have a committee or committees with authority to act on behalf of the governing body.”

“The form 990 is prepared by an independent tax accountant in conjunction with members of the organization's management team. The draft form 990 is then reviewed by management; adjustments are made, as necessary. Prior to filing with the internal revenue service, a complete copy of the form 990 is made available to all members of the governing body prior to filing with the internal revenue service.”

“In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the board of directors, who will consider the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the board of directors meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board members shall decide if a conflict of interest exists. An interested person may make a presentation at the governing board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. The board of directors, if appropriate, may appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the independent members of the board of directors shall determine whether the corporation can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the corporation's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination, it shall make its decision as to whether to enter into the transaction or arrangement.”

“The organization did not compensate any officers or key employees during 2024; accordingly, form 990, part vi, section b, lines 15a and 15b have been answered "no".”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Contract research services: program service expenses 728,308. Management and general expenses 0. Fundraising expenses 0. Total expenses 728,308.”