Openmind Platform Inc

“The board of directors acted as a whole on all matters and no committees were appointed during the year.”

“The organization has its federal form 990 prepared by outside accountants. Drafts of the form 990 are reviewed first by the director of operations, and then the executive director. Once the operations team deems a draft acceptable, it is provided to cdi's general counsel (currently laura solomon & associates) for review. Once cdi's general counsel agrees that the draft is ready for the board of directors' review, it is shared with the remaining members of the board of directors. The board of directors is asked to indicate their approval of the draft by email before filing with the internal revenue service. Once the board of directors has approved the draft, the form 990 is distributed by the tax preparer to two authorized signatories, typically the executive director and board treasurer.”

“The organization has a conflict of interest policy applicable to all directors, officers and key persons of the corporation. The policy is administered by the board of directors. Prior to a person's initial election and annually thereafter, each director shall sign a statement: (1) whereby such person identifies, to the best of such person's knowledge, any entity of which such person is an officer, director, trustee, member, owner, or employee and with which the corporation has a relationship, and any transaction in which the corporation is a participant and in which the person might have a conflicting interest; and (2) which affirms such person has received a copy of the policy and agrees to comply with the policy. In addition to the annual statements, in connection with any actual or possible conflict of interest or any potential related party transaction, an interested person must disclose the existence of a financial interest, or other personal interest that may give rise to a conflict of interest, and be given the opportunity to disclose all material facts to the board of directors. After disclosure of the financial interest or other personal interest and all material facts, the board of directors shall determine if a conflict of interest exists in accordance with the following: a. An interested person may make a presentation regarding the arrangement or transaction involving the possible conflict of interest to the board of directors. After exercising due diligence, the board of directors shall determine by a majority vote of the disinterested members whether a conflict of interest exists. If the board of directors determines that a conflict of interest does exist, then the interested person is prohibited from attempting to improperly influence any deliberation or voting related to the transaction or arrangement involving the conflict of interest. Further, the interested person must leave a meeting during the discussion of, and the vote on, any such transaction or arrangement. B. If the board of directors determines that a conflict of interest does exist, then it shall also make a determination as to whether the transaction or arrangement involving the conflict of interest is in the corporation's best interest, for its own benefit, and whether it is fair and reasonable. The minutes of the board of directors shall include the deliberations and decision in regard to any actual or potential conflicts of interest.”

“Each year, the board of directors reviews the executive director's performance and sets compensation based on an analysis of comparable data from similar organizations. This data is sourced from platforms such as payscale, salary.com, and form 990s of other organizations. The board of directors' final determination on the executive director's compensation is documented in the budget, which is formally approved during the fourth quarter board meeting. All decisions are documented contemporaneously. This process was last completed in october 2024. For all employees except the executive director, the process concluded by december, with the board of directors' approval of the budget and the salaries included in it.”

“The organization makes its form 990, governing documents, conflict of interest policy, form 1023, and financial statements available to the public upon request.”

“Consulting services: program service expenses 273,333. Management and general expenses 23,811. Fundraising expenses 14,933. Total expenses 312,077. Human resources and recruiting: program service expenses 63,908. Management and general expenses 30,974. Fundraising expenses 0. Total expenses 94,882. Product development: program service expenses 57,747. Management and general expenses 0. Fundraising expenses 0. Total expenses 57,747. External facilitators: program service expenses 32,500. Management and general expenses 0. Fundraising expenses 0. Total expenses 32,500. Data collection & analysis: program service expenses 29,554. Management and general expenses 0. Fundraising expenses 0. Total expenses 29,554. Payroll fee: program service expenses 12,207. Management and general expenses 2,879. Fundraising expenses 0. Total expenses 15,086. Professional development: program service expenses 13,748. Management and general expenses 1,059. Fundraising expenses 0. Total expenses 14,807.”