API Innovation Center

“Once the draft form 990 is completed by the organization's external accounting firm, a copy is provided to internal management of the api innovation center for initial review. After this review, the draft form 990 is distributed electronically to all members of the board of directors for their review prior to filing. Board members are given an opportunity to ask questions and provide comments. Any feedback is communicated to grf, and necessary revisions are made before the form 990 is finalized and filed with the irs.”

“Apiic monitors and enforces compliance with its policy via annual disclosures, board review of potential conflicts, documentation of any disclosures and determinations in corporate records, and corrective action when warranted.”

“The board of directors of the api innovation center oversees the compensation of the organization's ceo. To ensure compensation is reasonable and consistent with industry standards, the board periodically engages an independent third party to conduct a compensation analysis and provide comparability data from similar organizations. The results of this review were presented to the board for discussion and approval of ceo salary. This review was last performed in 2023.”

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

“Consultants: program service expenses 362,745. Management and general expenses 0. Fundraising expenses 0. Total expenses 362,745. Other professional fees: program service expenses 0. Management and general expenses 554,455. Fundraising expenses 48,213. Total expenses 602,668. Contracted services: program service expenses 891,771. Management and general expenses 0. Fundraising expenses 0. Total expenses 891,771.”