Washington Research Council

“The 990 was prepared by an independent cpa who regularly completes form 990's for clients. The cpa reviewed the draft 990 with the council's president prior to filing. After filing, the council's president notified the governing body that the 990 was completed and filed. As part of that communication, board members were reminded that the as-filed copy of form 990 is available to review. The council's form 990 is publicly available on guidestar.org and upon request.”

“The research council has a "no conflict of interest" policy which provides: "in the course of meetings or activities, board and staff members will disclose any interest in a transaction or decision where they (including their businesses or other nonprofit affiliation), their family and/or significant other, employer, or close associates will receive a benefit or gain. After disclosure, the individual may be asked to leave the room for the discussion and will not be permitted to vote on the question."”

“The officers of the organization set the compensation for the executive director as part of the annual performance evaluation and budget preparation process. The compensation falls within a range that is roughly comparable to the compensation of executives of similar organizations. Within that range, compensation is adjusted based on performance in meeting the organization's objectives as set forth in the strategic plan.”

“Governing documents, conflict of interest policy and financial statements are not available to the public.”

“Modified cash basis of accounting - the council's modified cash basis of accounting consists of the following conventions: amounts collected while a research project is in process are recorded as unearned project revenue. As project costs are paid, the council recognizes an equal amount of project revenue. Upon project completion, all remaining unearned revenue for that project is recognized as earned.”

“Financial statement review process: the independent cpa discussed a draft of the reviewed financial statements with the council's president. After approval, the council's president notified the governing body that the reviewed financial statements were completed.”