When did NuSI receive tax exempt status?
NuSI received tax exempt status on March 27, 2013.
Where can I see NuSI’s Financial Statements?
NuSI chooses to make the IRS Form 990 available via independent third-party websites, such as Guide Star, that advance transparency and provides donors with information about each nonprofit’s mission, legitimacy, impact, reputation, finances, programs, governance, etc.
What is a Form 990?
The annual Form 990 is a public document that provides useful information about a 501(c)(3) financial and charitable activities. The IRS uses it to assess excise taxes owed by foundation and to monitor some key activities.
When is the Form 990 available to the public?
Typically, it takes the IRS two to three months to make our Form 990 publically available once NuSI files.
Which fiscal years are available for Form 990 review?
NuSI’s initial filing was in 2012. NuSI intends to make Form 990 publically available each subsequent year thereafter, once available.
Where can I find out information regarding NuSI’s financial policies and procedure?
The IRS Form 990 includes information about NuSI’s policies and procedures. In addition, NuSI’s Gift Acceptance Policy discloses information regarding policies and procedures as it pertains to incoming donations.
Is NuSI independently audited?
Yes. NuSI has been independently audited by a certified public accounting firm since Fiscal Year 2012. Audited financial statements provide important information about a nonprofit’s financial accountability and accuracy. All of NuSI’s audits conform to “generally accepted accounting principles” (GAPP).
Is NuSI a registered charity on Charity Navigator?
No, NuSI was founded in late 2012. Charity Navigator has not yet reviewed NuSI.
Does NuSI’s Board of Directors review NuSI’s Financial Statements?
Yes. The organization, including NuSI’s Board of Directors, reviews Form 990 prior to filing.
What programs does NuSI allocate money towards?
NuSI programs consists of two initiatives (i) research, and (ii) education and engagement.
How does NuSI determine grant recipients?
NuSI does not accept unsolicited applications for funding. Instead, applications for grant awards are accepted only in response to a specific solicitation or request for proposals initiated by NuSI. After receiving an invitation, the first step in the process is submission of a Letter of Intent (LOI) that will require pre-approval before a full application is accepted. Each invited application is evaluated based on specific criteria. NuSI does not have a pre-determined number of awards or grants, nor does NuSI have a maximum grant amount.
How does NuSI determine employee compensation?
As encouraged by the IRS, NuSI’s Board of Directors Financial Compensation Committee is presented with collected independent third-party data on the compensation practices of thousands of similar nonprofits to determine ‘reasonable compensation’ to assist in recommending employee compensation.