Institute for Advanced Clinical Trials

“The organization has three classes of members: (1) founding members, consisting of critical path insitute, clinical research alliance, llc and robert m. Ward, md; (2) sustaining members, consisting of organizations that provide substantial unrestricted funds as dues to the corporation over an initial membership term of five years; 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 board of directors nominees.”

“The 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 conform to the corporation's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes 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, ceo, has compensation review 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 ceo. For the cmo and coo positions, the ceo, 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.”

“(4) facilitating and conducting pediatric clinical research in accordance with best practices in accordance with best practices and strategies to further scientific knowledge; (5) assisting governmental agencies and governmental regulatory authorities in connection with meeting or fulfilling their goals and responsibilities related to pediatric research; and (6) 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.”

“Communication & public relations: program service expenses 37,099. Management and general expenses 17,755. Fundraising expenses 9,708. Total expenses 64,562. Payroll & benefit services: program service expenses 5,202. Management and general expenses 2,489. Fundraising expenses 1,361. Total expenses 9,052. Contractors: program service expenses 138. Management and general expenses 66. Fundraising expenses 36. Total expenses 240. Consultant - physician: program service expenses 3,563. Management and general expenses 1,705. Fundraising expenses 932. Total expenses 6,200. Other contracted services: program service expenses 187,574. Management and general expenses 89,768. Fundraising expenses 49,081. Total expenses 326,423. Contractor - physician: program service expenses 16,609. Management and general expenses 7,948. Fundraising expenses 4,346. Total expenses 28,903. Recruitment: program service expenses 731. Management and general expenses 350. Fundraising expenses 191. Total expenses 1,272. Other professional fees: program service expenses 230,924. Management and general expenses 110,517. Fundraising expenses 60,425. Total expenses 401,866. Consultant - scientist: program service expenses 3,376. Management and general expenses 1,616. Fundraising expenses 883. Total expenses 5,875.”

“Early lease termination fee -89,408. Write off of operating lease 27,889.”