Houston Advanced Research Center

“J. Todd Mitchell and B. Greg Mitchell have a family relationship.Spiros Vassilakis has a business relationship with the Mitchell Family Corporation.”

“Prior to signing the Form 990 the Accounting Manager reviews it with the President and VP/COO. A copy is distributed to the remaining Board Members prior to filing. The Form is provided to the audit committee of the Board of Directors for their review and discussed at the next Audit Committee meeting.”

“There is a Board conflict of interest policy which each board member follows and it allows for the board member to disclose in written form whatever the conflict or perceived conflict is. This is given to the Chairman of the Audit committee for review and determination. A full disclosure is presented at the next board meeting. Whenver there is a conflict there is a restriction imposed on the person with such conflict which prohibits them from participating in both the deliberations and decision regarding that transaction or item.”

“The Board Chair evaluates the compensation of the CEO in coordination with the Boards' Compensation Committee annually. While HARC focuses on comparable nonprofit organizations in our area to benchmark pay, we also understand that the market for executive talent may be broader than this group. Market information from two additional market segments, private foundations, and published not-for-profit compensations surveys may be used as a supplement. In addition, HARC may also collect other published survey data, when appropriate, for for-profit organization employees with specific functional competencies. The Board's Compensation Committee reviews all compensation prior to effective day.”

“The compensation for key employees is determined by the the supervisors of the employee in coordination with Human Resources. See response to Line 15a for process.”

“Audited Financials are available on the HARC website, Governing documents and COI policy are available upon request.”