Intellectual Property Owners Education Foundation

“Whenever a vacancy shall occur in the board of directors, the board of directors of intellectual property owners association may, by majority vote of those present and voting, elect a person to fill the unexpired portion of the term. The board of directors of intellectual property owners association may also, by majority vote of those present and voting, elect additional persons to the board up to the limit on number of board members established. A director may also be removed by the board of directors of intellectual property owners association.”

“Ipo education foundation's practice is to document all board meetings; there is no other body of authority to act on its behalf.”

“Intellectual property owners association's finance manager reviews the form 990 with the director of operations and finance of ipo. The director of operations and finance then reviews it with the foundation secretary prior to signing of document in full detail. A copy of the form 990 is provided to the governing body before filing with irs.”

“An interested person shall be obligated to disclose the existence of any actual or possible financial interest involving a transaction (and all material facts relating thereto) to a member of the board of directors in the event that (i) such interested person is aware of any actual or possible financial interest involving a transaction, and (ii) such interested person causes or influences (or intends to cause or influence) the expenditure or utilization of ipo education foundation resources with respect to such transaction. After disclosure of the existence of the financial interest and all material facts related thereto, and after any discussion with the interested person, the board of directors shall discuss such transaction or arrangement and such financial interest outside the presence of the interested person. The interested person shall be required to abstain from any required vote taken with respect to such proposed transaction. An interested person may make a presentation at any meeting of the board of directors but after such presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction involving the possible financial conflict of interest.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“1. Virtual 20th anniversary/awards celebration a. The annual awards dinner, previously held at the national building museum in washington, dc, was held virtually in 2020 to celebrate the foundation's 20th anniversary. The program was hosted over three days featuring a virtual keynote address, panel discussions, fireside chats, and networking activities. Awards given included: inventor of the year, executive of the year, distinguished ip professional. B. The event was funded by sponsorships ranging from $2,500-$15,000. 2. Ask the experts mini video series a. A mini video series featuring experts in the intellectual property industry. Speakers answered questions about patents, design patents, trademarks, trade secrets, and copyright. Videos were shared with the ipo membership and general public on ipoef.org, youtube, and social media. B. No related income or expenses”

“1. Ip video contest a. A video contest to educate teens and the public at large about the importance of intellectual property and innovation. Contestants were invited to illustrate in an original, sixty second video how ip impacted their passions by entering two categories: 16+ years old and enter for charity. Winners received a cash prize or scholarship and were eligible for a cash prize for the "most likes on facebook." the board voted not to host the contest in 2020 and postpone indefinitely.”

“Although the organization reports salaries in part ix of the form 990, intellectual property owners education foundation does not issue w-2 forms since the forms are issued by its related organization, intellectual property owners association.”