Futuregen Industrial Alliance

“The executive director reviews form 990 as prepared by the alliance's outside cpas in consulation with the chief financial officer and general counsel. Form 990 is filed after the company's audit committee of the board of directors gives their final approval.”

“To ensure the alliance operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews shall be conducted. The periodic review shall, at a minimum, include the following subjects: 1) whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arm's length bargaining; and 2) whether partnerships, joint ventures, and arrangements with management organizations conform to the alliance's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes and do not result in inurement, impermissible private benefit, or in an excess-benefit transaction.”

“Per its bylaws, the alliance conducts and annual review of employee compensation. Any increases in an employee's compensation must be reviewed by the ceo, manager of human resources, and the general counsel or his designee. At the appropriate times, the board compensation committee reviews the performance of the ceo and recommends the bonus to the board, and the board decides on the bonus accordingly.”

“The alliance makes its form 990 available for public inspection upon request.”

“The alliance makes its financial statements available to the public upon request. It makes its governing documents and conflict of interest policy available to the public if and to the extent required to do so because of their having been attached to a government filing requiring such disclosure.”