Newswell

“Members or stockholders asu enterprise partners ("ep") serves as the sole member of the organization, and provides it with various supporting services, such as legal, human resources, financial, marketing and technical services.”

“Members with powers to elect or appoint asu enterprise partners as the sole member has the power to elect or appoint members of the governing body of newswell.”

“Decisions subject to approval per the bylaws of newswell, the following actions shall not be taken by the corporation without the approval of the member: election and removal of directors, amendment of the articles of incorporation of the corporation, amendment of the bylaws of the corporation, merger, consolidation or dissolution of the corporation, the creation of any subsidiaries or affiliates of the corporation.”

“Form 990 review process newswell's form 990, return of organization exempt from income tax, is prepared by an outside accounting firm. The draft is submitted to newswell's management and board chairperson for review and accuracy of reporting. A full copy of the form 990 is provided to the entire board of directors. It is then signed by the board chairperson and submitted electronically to the irs.”

“Process for monitoring and enforcement of conflict of interest policy upon hire and on an annual basis, all employees are required to disclose any conflicts or potential conflicts related to their involvement with newswell. In addition, any time the employee becomes aware of a new conflict, they are required to submit an updated conflict of interest/commitment form to asu enterprise partners' general counsel. Any identified conflicts would be reviewed by the board chair to determine any mitigation actions needed.”

“The executive director's compensation is determined and paid by arizona state university; as such, lines 15a and 15b has been answered "no" as required by the form 990 instructions. If newswell begins compensating the executive director (or other top management official), the board of directors will approve the compensation package for the executive director in reliance on a reasonableness opinion provided by an independent compensation consultant. The executive director makes compensation decisions for all other employees in reliance on market comparability data prepared by independent compensation consultants.”

“Documents made available to the public the form 1023 and form 990 for newswell are available upon request. Newswell does not make its governing documents, conflict of interest policy, and financial statements available to the public.”

“Compensation for nicole carroll was paid by arizona state university, an unrelated organization. The organization made a reasonable, good-faith effort to obtain compensation information from the university, but was unable to secure the information. Accordingly, the compensation paid by the university is not reported on the form 990, part vii and schedule j.”

“Marketing services: program service expenses 0. Management and general expenses 7,023. Fundraising expenses 0. Total expenses 7,023. Other professional fees: program service expenses 324. Management and general expenses 33,364. Fundraising expenses 0. Total expenses 33,688. Wire services: program service expenses 8,595. Management and general expenses 37,182. Fundraising expenses 0. Total expenses 45,777. Freelance: program service expenses 173,218. Management and general expenses 12,610. Fundraising expenses 0. Total expenses 185,828. Shared services fees: program service expenses 0. Management and general expenses 215,000. Fundraising expenses 0. Total expenses 215,000. Consultants: program service expenses 73,140. Management and general expenses 231,701. Fundraising expenses 0. Total expenses 304,841.”