National STEM Cell Foundation Inc

“Paula Grisanti, Director and CEO, and Michael Grisanti, Director, have a family relationship.”

“The organization has contracted its financial management oversight to an outside Chief Financial Officer and its day-to-day financial duties to a contracted Controller subject to overall supervision and control by NSCF's Fiduciary Board. Under an agreed upon asset allocation, the management of the investment portfolio has been delegated to an outside firm.”

“Form 990 was prepared by the contract Controller and reviewed in detail by the contract CFO, Board Chair and CEO. A copy was provided to all Board Members prior to IRS filing.”

“Under the policy, interested persons are required to update the Chairman of the Board of Directors regarding interest and relationships that could give rise to a conflict of interest. For each interest disclosed to the Chairman of the Board of Directors, the Chairman would determine whether to: (A) take no action; (B) assure full disclosure to the Board of Directors and other individuals covered by the policy; (C) ask the person to recuse themselves from participating in related discussions or decisions within the organization; or (D) ask the person to resign from his or her position in the organization or, if the person refused to resign, become subject to possible removal in accordance with the organization's removal procedures. The organization's employed Chief Executive and Chief Finance Executive monitor proposed or ongoing transactions for conflict of interest and disclose them to the Chairman of the Board of Directors in order to deal with potential or actual conflicts, whether discovered before or after the transaction has occurred.”

“The Board engaged an outside consulting firm in 2015 to determine an appropriate salary range for the CEO position. A Board approved salary was established based on their guidance and no salary adjustment was made until March 2020. Given the enhanced uncertainties related to COVID ripple effects and possible shifting research priorities, the salary was reduced to $100,000 and has remained at that level. Contracted CFO and contracted Controller are paid on an hourly basis consistent with local market rates.”

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

“NSCF funds adult stem cell and regenerative medicine research, connects children with limited resources to clinical trials for rare diseases, and underwrites a professional development program for middle school science teachers inspiring the next generation of stem pioneers nationwide.”

“NSCF funds adult stem cell and regenerative medicine research, connects children with limited resources to clinical trials for rare diseases, and underwrites a professional development program for middle school science teachers inspiring the next generation of stem pioneers nationwide.”

“Accomplishments include development of a collaborative project between funded researchers on both coasts for a first-in-kind study of neurodegeneration on the international space station (ISS), the co-funding of advanced pet scan technology research with the National MS Society, and the design and development of a digital library of stem project-based science lessons made available free of charge for teachers, students and parents worldwide. Through a fund established at the Pediatric Transplant and Cellular Therapy (PTCT) Program at Duke University, NSCF helps cover insurance deductibles and co-pays for children medically eligible to participate in potentially life-saving clinical trials for rare diseases when those out-of-pocket costs are beyond a family's means. Children from all over the United States and around the world travel to PTCT for access to clinical trials for rare, disabling and fatal diseases. These are children with no other treatment options and limited financial resources. NSCF founded and underwrites the National Stem Scholar Program for middle school science teachers inspiring the next generation of stem pioneers nationwide. NSCF partners with the Gatton Academy of Mathematics and Science at Western Kentucky University to provide advanced stem training, national network building, "big idea" project support and yearlong mentoring for science teachers motivating students at the tipping point of lifelong science interest - middle school. There are currently 90 National Stem Scholars in 34 states impacting an estimated 160,000 middle school students in the United States by June 2025.”

“The process has not changed from the prior year. The organization's Board of Directors continues to select the independent auditor. The Board continues to meet with the independent auditor at the conclusion of the annual audit.”