The Mind Research Network

“The form 990 is presented in draft form to the audit and compensation committee and to the full board for review prior to submission.”

“The conflict of interest policy covers any trustee, officer or member of a committee with governing board delegated powers, who has a direct or indirect financial interest. The organization conducts periodic reviews to determine (1) whether compensation arrangments 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 organizations 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. Outside experts and advisors may be used if deemed necessary. The governing board or committee determine if a conflict of interest exists after disclosure of the financial interest and all material facts. Actual conflicts are reviewed by the governing board or committee with governing board delegated powers. If a person is determined to have a conflict of interest that person may make a presentation at the governing board or committee meeting but is prohibited from participating in the governing body's deliberations and decision in the transactions. If a conflict of interest still exists the board or independent member of the board will investigate and report on solutions that would not give rise to a conflict of interest.”

“Ceo compensation is determined by a contract negotiated by the independent compensation committee of the board of trustees. The contract sets the goals and associated compensation. Annually, the compensation committee evaluates the performance to determine compensation. In negotiating the contract, the compensation committee used comparability data from various non-profit research associations and the mercer executive compensation survey. This process was last completed in early 2010. Key employee compensation is determined by the ceo and approved by the independent compensation committee of the board of trustees. The ceo performs an annual performance evaluation based on goals they have set and recommends compensation to the compensation committee of the board of trustees, who have final approval. The organization contracted with mercer in 2008 for an executive compensation survey of the top 10-12 employees in the organization. A new survey was completed in early 2010. The ceo and compensation committee use comparability data from various non-profit research associations and the mercer executive compensation survey. These actions are documented in minutes of the compensation committee meetings.”

“The organization's governing documents are available upon request.”

“Research consultants: program service expenses 448,039. Management and general expenses 0. Fundraising expenses 0. Total expenses 448,039. Other professional services: program service expenses 281,343. Management and general expenses 233,235. Fundraising expenses 0. Total expenses 514,578. Subcontractors: program service expenses 1,804,469. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,804,469.”