Seti Institute

“The executive committee is composed of the board chair, vice chair, secretary, president, ceo, and the chairs of the other board's committees including finance, governance, audit and endowment. The board has delegated certain tasks as well as the authority to act on other matters which fall below the dollar thresholds indicated in the authorization table. Enumerated tasks include executive performance evaluation and compensation (ceo, cfo).”

“Updates to our bylaws were made to reflect current california regulations for nonprofit organizations, including limitation of interested persons serving on the board, clarification of the executive committee's authority limitations, and the composition and duties of the audit committee.”

“When the form is completed, and prior to submission to the irs, the form 990 is reviewed by the audit committee, subcommittee of the board of trustees which includes non-trustees and trustees. Upon acceptance by this subcommittee, the form 990 is finalized and distributed to the full board for information and comment and then filed electronically with the irs.”

“The seti institute has a formal conflict of interest questionnaire that is designed to identify and report possible conflicts of interest among our directors, officers, and key employees. This questionnaire is distributed annually. Employees return the form the hr director employees and are required to report new potential conflicts as they arise during the year. Board members return the form to chair of the governance committee.”

“The seti institute uses a professionally prepared compensation study to determine appropriate compensation levels for all employees. Annually after a review of comparable industry compensation data and performance, the executive committee (by majority vote) determines the appropriate compensation for the president/chief executive officer or the chief financial officer's. Upon review of this data, management recommends changes to employee compensation to the finance committee as part of the annual budget process. Subsequently, the budget is reviewed and approved by the full board. The process was last undertaken in 2024.”

“The seti institute distributes its financial information to the public via its website, via dun and bradstreet, and other outside websites, such as guidestar. We also make our form 990 and financial statements available upon request. Governing documents may also be made available upon request.”

“Change in value of split interest agreements 26,822.”

“The process for oversight of the financial statement audit and for selection of an independent accountant has not changed from prior year.”