Texas Research and Technology Foundation

“The trtf's cfo will provide a copy of the completed form 990 and required schedules to the foundation's business affairs and executive committees, with notes describing each section and schedule, plus a copy of the 2012 audited financial statements. Any questions will be reviewed with the preparer. After a final review and approval of the executive commitee, a copy of the form will be provided to the foundation's trustees at its annual meeting.”

“The trtf requires that each trustee review and return a signed copy of the conflicts of interest policy each year at its annual meeting. Trtf's president and compliance committee members follow-up with individual trustees to ensure that each trustee has made the required annual disclosures. Trustees are reminded that they are required to provide written updates to the chairman if circumstances change during the year, requiring an amended report. Board of trustee meeting minutes also record specific instances where a trustee abstains from voting because he/she believes they have a conflict of interest.”

“The trtf business affairs committee is authorized by the board of trustees to review, evaluate and make recommendations to set salaries and to approve increases. The committee uses data obtained from local institutions and/or foundations in addition to compensation surveys obtained from national and local staffing organizations to determine arrange of rates before making a recommendation to the board of trustees. Final review and approval is required by the board of trustees at the next scheduled meeting before the rate is effected. Documentation includes comparative data, committee notes, and approved minutes from the committee and board meetings. The last compensation review was performed in december 2013.”

“In december 2012, the organization obtained a compensation report from an independent compensation consulting firm. Their review is based on compensation surveys, compensation packages offered by similar organizations in our peer group, and market competitive analyses. The organization deemed appropriate to use this report when reviewing other officers compensation in 2013.”

“The governing documents, conflict of interest policy, financial statements and form 990 are available upon request, at no charge, at the foundation's office,14785 omicron drive, suite 100, san antonio, tx 78245.”

“Texas Research & Technology Foundation became a Regional Center for Innovation and Commercialization for the Texas Emerging Technology Fund (TETF), administered by the Office of the Governor. As such, emerging technology companies are screened, coached and sent to the statewide TETF Advisory Council. If accepted by the statewide TETF Advisory Council, and approved by the State Leadership, are funded by the TETF.”