National Institute of Building Sciences

“The board of directors, by a majority of the whole board, may designate an executive committee of directors, to include the chairman of the board, who shall be chairman of the executive committee and at least eight (8) other directors. A majority of the members of the executive committee shall be representatives of the public interest. Subject to applicable provisions of law and the direction of the board of directors, in the intervals between meetings of the board, the executive committee may meet and may exercise the authority of the board of directors in the management of the property, affairs, and business of the institute. Except as otherwise provided in the bylaws, a majority of the committee shall constitute a quorum thereof, and the acts of a majority of the committee at a meeting at which a quorum is present shall be acts of the committee. Minutes of executive committee meetings shall be prepared and a copy supplied to each member of the board.”

“New board members are voted and approved by existing board members, except that six board members are appointed by the president of the united states.”

“The return is prepared by an accounting firm and reviewed by the president/chief executive officer, vp, finance and controller and the board before being filed with the irs.”

“The purpose of the code of ethical conduct is to protect the financial and legal interests of the national institute of building sciences (nibs) when it contemplates entering into any agreement, transaction or arrangement or engaging in any activity that might benefit the private interest of any officer, director, employee, or agent of nibs. On an annual basis, all officers, directors, employees, or agents of nibs shall sign a statement affirming that they have received a copy of the code of ethical conduct, that they have read and understand the code, and that they agree to comply with the code. The code is monitored on an ongiong basis by the board of directors.”

“Compensation for the president is approved by the executive committee, consistent with budgetary limitations, and based on the performance appraisal by the board of directors and salary surveys.”

“Financial statements are available through the institute's annual report which is on the institute's website. Governing documents and conflict of interest policy are not made available to the public.”

“Subcontractors and consultants: program service expenses 14,265,710. Management and general expenses 800,685. Fundraising expenses 0. Total expenses 15,066,395. Bank service charges: program service expenses 616. Management and general expenses 48,461. Fundraising expenses 0. Total expenses 49,077.”

“Nibs did not change either its oversight or selection process during the tax year.”