National Academy of Social Insurance

“The organization consisted of members who have power of electing board members.”

“Active members of the academy elect all members of the board of directors.”

“Certain matters referred by the board of directors are subject to vote by active membership.”

“The 990 is first reviewed by management and then the chair and treasurer of the board. Following their review, the 990 is circulated to all board members prior to being submitted.”

“At the beginning of each year, members of the governing body are required to complete a conflict of interest statement.”

“Compensation for the chief executive officer is based on the review by the executive committee of the board of compensation in other organizations in the field similar to the academy. Compensation for other key employees is established by the chief executive officer with input from the board of directors via the budgetary process that lists all planned levels of compensation. Compensation is based on rates paid by other similar organizations for a comparable level.”

“Governing documents made available upon request.”

“The academy's p&l, which is based on accrual accounting, shows large year-to-year fluctuations due to the timing of multi-year grants received during a particular fiscal year. All of the revenue in connection with such grants is recognized in the year of receipt, even though work funded by such grants is conducted over more than one year. The academy's prior year form 990s should be consulted to place the current fiscal year's financial results in context.”

“Other: program service expenses 165,926. Management and general expenses 134,016. Fundraising expenses 117. Total expenses 300,059.”

“The academy, as a matter of policy, changes auditors every 5-7 years to assure continued quality of audits. A request for proposal is issued to a minimum of 3 audit firms that have been vetted. The proposals are reviewed and the firm's interview by officers of the academy. A recommendation is made to the finance committee of the board of directors which makes a final recommendation to the board. The board is the final authority on the engagement of the auditors.”

“The process has not been changed from the prior year.”