Institute for the Future

“The audit committee reviewed the draft form 990 and met in order to provide a forum to ask any questions of the director of finance, executive director, or the tax preparer. The audit committee chair then provided the draft form 990 to the board chair for review and approval. Upon approval chairman directed the director of finance to finalize and to file the form 990.”

“Iftf directors, officers, key employees, all staff, and contractors sign a nondisclosure agreement containing a conflict of interest policy. Staff and contractors are required to inform iftf of potential conflicts. The organization employs a strong web process to search for outside articles/information and utilizes strong staff communications to monitor any issues. Iftf program directors and research managers work directly with consultants to understand their outside projects and notify management accordingly. Iftf board members are directed by a charter and roles and responsibilities documentation maintaining conflicts of interest as well as whistleblower policies.”

“Executive director (ceo) compensation is determined and approved by the board of trustees upon completion of executive director's annual review with the board. In 2011, and independent consultant performed a compensation study to determine if organizational salaries for the executive director, management team, and research staff were in-line with other nonprofits and/or similar research organizations. Outside surveys, interviews, and other regional benchmarks were used as a comparative base. A proposal is also provided to the board as part of the annual meeting's yearly budget approval process by the board, including full staff salaries and incentive compensation accruals and distributions. No salary increases or incentive compensation is paid out without the board approval of the proposal. The board maintains the right to ask for any adjustments to the proposal.”

“Financial statements, conflict of interest policy, and governing documents are available upon request for the same period of time set forth in sec. 6104(d).”

“Consulting fees: program service expenses 1,970,572. Management and general expenses 0. Fundraising expenses 360. Total expenses 1,970,932. Other professional fees: program service expenses 0. Management and general expenses 267,368. Fundraising expenses 0. Total expenses 267,368.”

“The audit of the organization's 2019 financial statements is in progress at time of filing.”