National Institute on Money in State

“The draft 990 is reviewed by the executive director and the finance specialist. A final draft of the 990 is then reviewed and approved by the Board of Directors financial committee prior to filing.”

“Board members must update and sign a new disclosure statement at the annual meeting. Board members are also expected to update and send the organization a new disclosure statement whenever this information changes.”

“Compensation was initially set for the executive director based on a review of comparable salaries by the Board of Directors. Compensation is now reviewed and adjusted annually by the board.”

“Compensation of other employees is set based on a review of comparable salaries by the Executive Director. Compensation is reviewed and adjusted annually during the budgeting process.”

“Governing documents, conflict of interest policy, financial statements, and board minutes are available to the public upon request. Copies of the annual report, financial statements, and form 990 are published on the Institutes website.”

“This amount represents a net asset transfer to Center for Responsive Politics.”

“Primary Exempt Purpose Continuation:As a nonpartisan nonprofit, the Institute encourages transparency and promotes independent investigation of state- level campaign contributions by journalists, academic researchers, public- interest groups, government agencies, policymakers, students and the public at large. Explanation of Dissolution:The dissolution process began in fiscal year 2021 with initial distributions to Center for Responsive Politics. These transfers were recorded as net asset transfers. The dissolution process will conclude in 2022.”