Institute for Advanced Clinical Trials for Children

“The organization has three classes of members (1) founding members, consisting of critical path institute, elizabeth garofalo, m.d., and martha brumfield, ph.d.; (2) sustaining members, consisting of organizations that provide substantial unrestricted funds as dues to the corporation over an initial membership term of five years, with annual continuation option; and (3) general members, consisting of those supporting the purpose and activities of the corporation over a one-year term of membership.”

“Founding and sustaining members have the right to vote on the board of director nominees.”

“Form 990 is prepared by an external cpa firm using information provided by the organization. The form is reviewed by the audit and compensation committee and the board of directors prior to being finalized.”

“To ensure the organization operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize tax-exempt status, periodic reviews shall be conducted. The periodic reviews shall, at a minimum, include the following subjects: (1) whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arm's length bargaining, and (2) whether partnerships, joint ventures and arrangements with management organizations confirm to the corporation's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purpose and do not result in inurement, impermissible private benefit or in an excess benefit transaction. When conducting the periodic reviews, the organization may, but need not, use outside advisors. If outside advisors are used, their use shall not relieve the governing board of its responsibility for ensuring periodic reviews are conducted.”

“The top management official, executive director, has compensation reviewed by an independent person (hr consultant and audit and compensation committee chair, or board of directors appointee), comparability data from benchmarking and deliberation and decision is reflected in the board meeting minutes. The approved pay rate upon hire is validated by a signed offer letter by the board chairperson for the executive director. For the cmo and cfo positions, the executive director, or the board of directors chairperson, will evaluate the benchmarking and sign the offer letter for the approved pay rate.”

“The articles of incorporation, conflict of interest policy and financial statements are available upon request.”

“(1) developing, advancing, accumulating and maintaining scientific description of organization mission: to establish and drive innovation to improve and expedite pediatric drug development. Our work is not just about advancing the development of new therapies; it's about giving children with medical conditions a better change at a high quality of life, allowing them to flourish despite their condition, which for some, can be a matter of life of death. Engaging subject matter experts, academics, regulatory agencies, drug developers and patient advocates in our mission. Together, fostering an environment that finds solutions to the many challenges for safe and effective pediatric drug development, and (2) engaging in any lawful act or activity for which corporations may be organized under the delaware general corporation law. As amended from time to time. Also, to engage in any lawful act or activity permitted for organizations exempt from federal income tax under section 501(c)(3) of the internal revenue code.”