Universal Gifted Savings Inc

“Form 990 is reviewed by management and the board of directors prior to filing.”

“The conflict of interest policy covers insiders, which include members of the board of directors, members of any committee with board-delegated responsibilities, corporate officers and those with equivalent responsibilities, any employee who is determined by the board to have substantial influence over the organization, and any person who met any of these criteria during the five years before the transaction giving rise to a potential conflict. The policy also covers interested persons, which include certain family members and entities owned by insiders. Each interested person is required to disclose to the board all material facts regarding any interest that may give rise to a conflict of interest. The board shall determine that all material facts regarding the transaction and the interested person's interest have been disclosed. The board shall compile appropriate information to evaluate the transaction whether the transaction is fair and reasonable to the organization and its best interests. The board shall deliberate and vote on the transaction in the absence of the insider and any other interested person. The board, in the absence of the interested person, shall determine whether the interest constitutes a conflict of interest, and if so, whether the transaction is in the organization's best interest, for its own benefit, and fair and reasonable to the organization. The organization shall also determine whether it could reasonably obtain a more advantageous alternative arrangement under the circumstances. A majority of disinterested members of the board may approve the transaction.”

“The organization's governing documents, conflict of interest policy and financial statements are made available to the public upon request when required by federal or state law.”

“Other professional fees: program service expenses 37,404. Management and general expenses 54,827. Fundraising expenses 0. Total expenses 92,231. Sponsored research project: program service expenses 197,163. Management and general expenses 0. Fundraising expenses 0. Total expenses 197,163.”