Fs-Isac Inc

“The 990 was prepared by the outside accountants and then reviewed by the cfo and ceo. It was then distributed to the board of directors before filing with the irs.”

“A conflict of interest is present whenever a director has a material personal interest in a proposed transaction or business opportunity being considered by fs-isac. This interest occurs either directly or indirectly, as, for example, where the director's employer or a company upon whose board the director also serves has a business interest adverse to the interest of fs-isac. In these cases, the director or committee member gives the appearance of having divided loyalties and not acting in the best interests of fs-isac. The duty of loyalty requires that a director be conscious of the potential for conflicts of interest and act with candor and care in dealing with a conflict prior to the discussion or presentation of such matter before the board or committee. Each employee and board member is asked to sign a coi statement at the time of hire/appointment and then annually. It is the policy of the fs-isac board that any director having an actual or apparent conflict of interest in a matter to be acted upon by the board or a committee discloses the conflict prior to the discussion or presentation of such matter. If possible, the conflict is disclosed to the chair of the meeting in advance of the meeting. The director considers whether it is advisable under the circumstances to recuse himself/herself from the discussion and/or vote and recuse himself/herself, if requested to by the chair of the meeting.”

“The organization has an approved business plan and budget. The ceo's performance is evaluated based upon several factors, including reaching the business plan objectives. Based upon this evaluation, the ceo's annual compensation is determined by the chairman and the compensation committee. Comparable data is also used and the compensation process is documented. The last salary review date for the ceo was december 2019. Key employee compensaton is done by the ceo based upon each individual's ability to meet his/her performance objectives, which include both personal and organizational goals.”

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

“Fs-isac continued to expand sector services serving non-financial sector industries. This program provides cyber-security services to a limited number of non-financial sector industries. Each industry that receives these services has underlying business activities that are inextricably linked to the cybersecurity of the financial sector industry. Thus, these services are related to fs-isac's mission of protecting the financial sector industry from cyber-attacks.”

“The organization ended its sector services program in 2019.”