Baltimore Research & Education Foundation Inc.

“The board may by resolution of a majority of the entire board establish one or more committees, each to consist of two or more of the directors of the corporation, which, to the extent provided in the resolution, shall have and may exercise the powers of the board.”

“Auditors present a draft of the form 990 prepared by an independent cpa firm to the board during a board meeting. The board then reviews and approves the return, which is then e-filed with the irs.”

“All bref directors, officers, and employees complete a conflict of interest disclosure questionnaire and an affirmation of compliance upon joining bref, and are required to complete these forms annually thereafter. Whenever a potential conflict arises, the individual has the duty to promptly disclose the potential conflict to a board member, the executive director or a supervisor. The board will promptly convene a meeting to review and determine whether a conflict exists. If it is determined a conflict does exist, the board will bring this to the attention of the veterans affairs authorities.”

“The executive director's salary is reviewed and determined by the bref board of directors and is approved by the bref president annually. Salary is based on an extensive documented review of similar positions in similar organizations in respect to scope, size, and location using resources such as guidestar and 990s from other veterans affairs non-profit corporations. It is bref's policy that all employees, including the executive director, receive an annual cost of living increase based on federal employee guidelines for those living in the baltimore, maryland area.”

“The organization's governing documents, conflict of interest policy and financial statements are located on site and available upon request.”

“Payroll processing: program service expenses 0. Management and general expenses 4,577. Fundraising expenses 0. Total expenses 4,577. Contractor fees: program service expenses 683,764. Management and general expenses 7,167. Fundraising expenses 0. Total expenses 690,931. Subcontractor fees: program service expenses 1,148,796. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,148,796.”

“There were no changes in the organization's oversight process or selection processes from the prior year.”