Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE ORGANIZATION HAS SEVERAL DIFFERENT CLASSES OF MEMBERS. THESE CLASSES INCLUDE LEADERSHIP MEMBERS, FOUNDING MEMBERS, PRINCIPAL MEMBERS, AND ASSOCIATE MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE LEADERSHIP MEMBERS HAVE THE VOTING POWER TO ELECT OR APPOINT MEMBERS OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION A, LINE 7B | VARIOUS GOVERNING DECISIONS OF THE ORGANIZATION ARE SUBJECT TO APPROVAL BY THE MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 8B | THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE BOARD OF DIRECTORS REVIEWS THE 990 PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CONFLICT OF INTEREST POLICY COVERS DIRECTORS, OFFICERS, AND MEMBERS. THE BOARD OF DIRECTORS REVIEWS ANY POTENTIAL CONFLICTS. CONFLICTS ARE DETERMINED TO HAVE OCCURED IF THE INTERESTED PARTY STANDS TO BENEFIT SOLEY AND DIRECTLY. THE INDIVIDUALS THAT ARE DETERMINED TO HAVE A CONFLICT ARE ABSTAINED FROM VOTING. THE ORGANIZATION DOCUMENTS THE PROCEEDINGS RESULTING FROM CONFLICTS OF INTEREST IN THEIR BOARD MINUTES. |
| FORM 990, PART VI, SECTION B, LINE 15A | THE EXECUTIVE DIRECTOR IS A MAYO CLINIC SUPPLY CHAIN RESILIENCY SUBJECT MATTER EXPERT AND CONTRACTED FROM MAYO CLINIC TO HIRC AT FAIR MARKET VALUE (FMV). THIS ARRANGEMENT WAS SENSIBLE AS MAYO CLINIC IS THE CO-FOUNDER OF HIRC AND THE STAFF RESOURCE IN QUESTION WAS A KEY CONTRIBUTOR. PER THE STAFFING CONTRACT, FMV IS CALCULATED AS (SALARY + BENEFITS) X 20%, WHEREIN THE 20% FMV ADJUSTMENT IS REMOVED AS AN IN-KIND CONTRIBUTION. WHILE COMPARABILITY DATA WAS NOT REVIEWED IN ESTABLISHING THE STAFFING CONTRACT, "THE RANGE TYPICALLY FALLS BETWEEN $163,500 AND $234,900" FOR THE RELEVANT REGION (WWW.SALARY.COM). PRESUMING THIS RANGE REPRESENTS TOTAL COMPENSATION (SALARY + BENEFITS), THE EXECUTIVE DIRECTOR COMPENSATION FALLS WITHIN THIS RANGE. THE DELIBERATION FOR THE STAFFING SELECTION AND CONTRACT WAS COMPLETED BY THE BOARD OF DIRECTORS AND DOCUMENTED IN MEETING MINUTES AS OF 2021. A REVIEW PROCESS HAS NOT BEEN COMPLETED. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND ACCOUNTING RECORDS AVAILABLE UPON REQUEST. |
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