Institute for Physical Sciences Inc

“There are no committees with authority to act on behalf of the governing body; thus there are no minutes to document.”

“After the 990 is prepared by the public accounting firm, a draft copy is returned to the organization for review by the accounting department and Program Operational Management. Adjustments, if any, are corrected. The return is then presented to the President/Treasurer of the company for final review, approval, and signature.”

“Board members are asked annually about conflict of interests. Potential conflicts are reviewed on a case by case basis and adjustments (such as resignations or reassignment) are made accordingly. In the event of a conflict during the year, the Board member with the potential conflict will recuse himself/herself from the discussion and vote.”

“Annual reviews for employees are documented and are based on performance evaluations and the type of work performed. Outside factors are also considered, such as market rate for the quality of services rendered. The government audit departments constantly reviews IPS' cost proposals submitted for government contract awards for reasonable pricing, which includes current salary expenses and estimated escalation rates. Acceptance of these rates represents approval from an independent source.”

“ips does not make their governing documents, conflict of interest policy or financial statements available to the public.”

“outside service/consultant: Program service expenses 688,136. Management and general expenses 50,200. Fundraising expenses 0. Total expenses 738,336. CONTRACT LABOR: Program service expenses 0. Management and general expenses 2,500. Fundraising expenses 0. Total expenses 2,500.”