National Information Standards Organization

“Voting members have the right and responsibility to designate a voting representative and an alternative voting representative to the corporation.”

“MEMBERS ELECT THE BOARD.”

“The form 990 is prepared by the outside accounting firm, reviewed by the executive director, approved by the audit committee of the board, and an electronic copy is provided to each board member.”

“All new board members are provided with a copy of the conflict of interest policy; additionally at each meeting any board members with conflicts will state the conflict and recuse themselves from any discussions or votes on any issues with a conflict.”

“Executive compensation is set by the executive subcommittee of the board of directors. Comparability data is consulted, and the decision is formally documented and maintained by the chair of the board with a copy in the organization's human resources' files.”

“The organization makes its governing documents and the financial statements available to the public upon request.”

“In february 2016, the fasb issued accounting standards update 2016-02 leases (topic 842) to increase transparency and comparability among organizations by recognizing lease assets and the corresponding lease liabilities and disclosing key information about leasing arrangements for lessees and lessors. The new standard applies a right-of-use model that requires, for all leases with a lease term of more than 12 months, an asset representing its right to use the underlying asset for the lease term and a liability to make lease payments to be recorded. The organization adopted the standard effective january 1, 2022 and recognized and measured leases existing at, or entered into after, january 1, 2022 through a cumulative effect adjustment. The standard had a material impact on the statement of financial position but did not have a material impact on the statement of activities nor the statement of cash flows. The most significant impact was the recognition of right-of-use assets and lease liabilities for operating leases. To conform with fasb and to agree with the financial statement, the right-of-use asset has been separately stated as an other asset on this 990.”

“No change in oversight/selection process from prior year.”