Foundation for Advanced Education in the Sciences Inc.

“Faes members are the nih employees and the general public.”

“Each year, the members of faes elect the board of directors who are either nih employees and/or non-nih employees. Voting shall be conducted by mail or electronic ballot.”

“Faes hires an independent accounting firm to prepare the federal form 990. Upon submission of the draft, the draft federal form 990 is reviewed by the executive director and the controller. Copies of the federal form 990 are also provided to the board of directors before filing with the internal revenue service.”

“Every director, principal officer and member of a committee with board delegated powers are required to sign a statement on an annual basis which affirms that he/she has received a copy of the conflict of interest policy, reads and understands the policy, agrees to comply with the policy, and understands that faes is a charitable organizations who must engage primarily in activities which accomplishes its tax-exempt purpose. To ensure that faes operates in a manner consistent with its charitable purposes and that it does not engage in activities that could jeopardize its status as an organization exempt from federal income tax, periodic reviews are conducted. If the board or committee members determine that a conflict of interest exists, the interested person shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement that involves the conflict of interest.”

“The process for determining compensation of faes officers and key employees includes an annual review and approval by the executive committee. Faes also uses comparabiltity data which includes compensation surveys, studies, and the form 990 of other organizations. Faes ensures there is contemporaneous substantion of the deliveration and decision.”

“The audited financial statements are available upon request. The conflict of interest policy is also available upon request.”