West Virginia University Research Corporation

“There is a common employment relationship amongst the majority of members of the board of directors. With the exception of the three external members, all west virginia university research corporation directors are employed by west virginia university.”

“The voting membership of the board of directors includes the president of west virginia university (wvu) and up to fourteen additional voting directors. Seven of the board directors are appointed by the university president, three of which are external to both west virginia university research corporation and west virginia university. Three of the board directors are appointed based on their west virginia university position. The remaining four board directors are appointed based on their west virginia university position within a college with a high level of externally funded research. With the exception of three external board directors, each of the appointed directors must be employees of west virginia university during the term of appointment. Non-voting directors may be elected by the voting members of the board.”

“The west virginia university tax services unit, the wvu division of finance, the wvurc treasurer, and the wvurc assistant treasurer review a draft of the form 990 on behalf of the wvurc. A complete copy of the form 990 is provided to the board prior to filing with the service.”

“The wvu office of research integrity and compliance requires and monitors annual disclosures by any employee conducting research including board directors or officers. In addition, the wvu office of research integrity and compliance maintains and monitors any conflict of interest disclosure made by non-research employees. Additionally, with the exception of the three external directors who are not employed by either west virginia university research corporation or west virginia university, all wvurc board directors were employees of wvu during the fiscal year 2014. Consequently, these board directors are subject to wvu's policies and procedures which include the state of west virginia ethics act, and the compensation, fringe benefit and accountable plan policies and procedures. The state of west virginia ethics commission compiles on an annual basis financial disclosures submitted by wvu employees at the director level and above.”

“With the exception of the three external directors who are not employed by either west virginia university research corporation nor west virginia university, the organizations officers are compensated by a related organization, west virginia university. Compensation for every position is determined by several factors including job analysis and evaluation, the essential duties and responsibilities of the position, and salary survey data on pay practices. We periodically review our salary administration program and restructure it as necessary. Market and/or competency based adjustments may be warranted based on one's employment functions, as determined by a classification review. In addition, employees may be awarded merit-based pay adjustments in conjunction with superior performance as documented by our performance evaluation process.”

“Pursuant to chapter 31, article i, section 28 of the official code of west virginia, 1931, as amended, a certificate of incorporation was issued by the west virginia secretary of state on june 26, 1985 to the west virginia university research corporation. This certificate is affixed to the articles of incorporation of the west virginia university research corporation. That certificate along with the wvurc's irs determination letter and form 990 are available on west virginia university's website. The affirmative action plan, financial statements and form 990-t are open and available for inspection at the wvurc upon request.”

“See the following note for form 990, part vii for contact addresses for officers, directors, etc. Who cannot be reached at the organization's mailing address.”

“Julie smith - 3313 four-h camp road, morgantown, wv 26508-2428. Mike green - 5000 greystone drive, morgantown, wv 26508-8616. Mark wise - 1031 imperial drive, morgantown, wv 26508-9180.”

“Unrealized gains/losses 776,007. Financial statement rounding -1.”

“There has been no change from fiscal year 2013 to fiscal year 2014 in the oversight of the audit, review, or compilation of the financial statements or in the selection process of an independent accountant.”