Algae Foundation

“Ira levine (chair) is the owner of biological services inc.”

“Organization's process to review form 990 the complete form 990 is prepared by the treasurer and reviewed by the chair and vice chair of the board, board of directors (for review and comment) and legal counsel.”

“Enforcement of conflicts policy all board members sign a conflict of interest statement before joining the board.”

“Compensation process for top official the process for determining compensation of dr. Ike levine in connection with the hourly rate being paid to biological services, inc. Under the independent contractor agreement involving management of the atec program involved a review of comparability data and contemporaneous substantiation of the disinterested directors' deliberation and decision on the matter. On comparability data, the board reviewed emails from the department of energy regarding similar programs and hourly amounts paid to project managers under those programs. The hourly rate being charged by those program managers was comparable to or higher than the amount bsi received under the independent contractor agreement. Other consulting agreements within the algae industry were also reviewed, and the hourly rate that the foundation was being charged by bsi was substantially less than under the other consulting agreements. These investigations suggested that the hourly rate being changed by bsi to the foundation was at or below market rates and that the rate being charged was fair. The algae foundation's conflict of interest policy was also followed. Dr. Levine did not participate in the decision or discussion with respect to approval of the independent contractor agreement with bsi.”

“Governing documents disclosure explanation the articles of incorporation are publicly available from the secretary of the state ofwashington. The articles and by-laws are available to members on the web site and the general public upon request.”