2024-03-19T16:01:02-05:00 2023-10-31 135565207 KPMG LLP 60 SOUTH STREET BOSTON MA 02111 990 2022-11-01 260150662 GORDON RESEARCH CONFERENCES INC GORD 4017834011 5586 POST ROAD UNIT 2 EAST GREENWICH RI 02818 TARYN GROVES MORAN TREAS & CFO 4014405238 2024-03-19 1 TARYN GROVES MORAN 999009999 1 SHYAMALEE JOSEPH P01085371 6179881000 2024-03-18 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z NANCY RYAN GRAY 5586 POST ROAD UNIT 2 EAST GREENWICH RI 02818 162412843 0 X WWW.GRC.ORG X 2009 RI GORDON RESEARCH CONFERENCES, INC. PROVIDES THE PRESENTATION AND DISCUSSION OF FRONTIER RESEARCH IN THE BIOLOGICAL, CHEMICAL, PHYSICAL SCIENCES, & THEIR RELATED TECHNOLOGIES. 15 15 86 15 0 0 8760855 11358827 40835290 47904028 2802355 6356383 13494 86694 52411994 65705932 0 0 0 0 3675555 4082786 0 0 0 46614542 54136878 50290097 58219664 2121897 7486268 72819892 77694755 4502298 3331446 68317594 74363309 X GORDON RESEARCH CONFERENCES, INC. PROVIDES AN INTERNATIONAL FORUM FOR THE PRESENTATION AND DISCUSSION OF FRONTIER RESEARCH IN THE BIOLOGICAL, CHEMICAL, & PHYSICAL SCIENCES. *SEE SCHEDULE O* 0 0 53176557 47990722 THE GORDON RESEARCH CONFERENCES PROMOTE DISCUSSIONS AND THE FREE EXCHANGE OF IDEAS AT THE RESEARCH FRONTIERS OF THE BIOLOGICAL, CHEMICAL AND PHYSICAL SCIENCES. SCIENTISTS WITH COMMON PROFESSIONAL INTERESTS COME TOGETHER FOR A FULL WEEK OF INTENSE DISCUSSION AND EXAMINATION OF THE MOST ADVANCED ASPECTS OF THEIR FIELD. THESE CONFERENCES PROVIDE A VALUABLE MEANS OF DISSEMINATING INFORMATION AND IDEAS IN A WAY THAT CANNOT BE ACHIEVED THROUGH THE USUAL CHANNELS OF COMMUNICATION - PUBLICATIONS AND PRESENTATIONS AT LARGE SCIENTIFIC MEETINGS. DURING THE YEAR THERE WERE 211 CONFERENCES AS WELL AS 179 GORDON RESEARCH SEMINARS HELD. 53176557 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 7 0 1 86 1 0 1 HK 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 CA MA NH X X TARYN GROVES MORAN 4014405238 5586 POST ROAD UNIT G02 EAST GREENWICH RI 02818 KRISTI ANSETH CHAIR 1.00 1.00 X 0 0 0 CYNTHIA BURROWS VICE CHAIR 1.00 1.00 X 0 0 0 FRANCES ARNOLD TRUSTEE 1.00 1.00 X 0 0 0 MEIGAN ARONSON TRUSTEE 1.00 1.00 X 0 0 0 MAIANNE BRONNER TRUSTEE 1.00 1.00 X 0 0 0 SAMUEL GELLMAN TRUSTEE 1.00 1.00 X 0 0 0 DAVID J GLASS PAST CHAIR 1.00 1.00 X 0 0 0 MARK MURCKO TRUSTEE 1.00 1.00 X 0 0 0 MONICA OLVERA DE LA CRUZ TRUSTEE 1.00 1.00 X 0 0 0 SUDIP PARIKH STANDING APPOINTMENT 1.00 1.00 X 0 0 0 ELSA REICHMANIS TRUSTEE 1.00 1.00 X 0 0 0 RANDY SCHEKMAN TRUSTEE 1.00 1.00 X 0 0 0 VIOLA VOGEL TRUSTEE 1.00 1.00 X 0 0 0 DAVID WEITZ TRUSTEE 1.00 1.00 X 0 0 0 ALBERT CHEUNG-HOI YU TRUSTEE 1.00 1.00 X 0 0 0 NANCY RYAN GRAY PRESIDENT AND CEO 40.00 10.00 X 757264 0 51641 TARYN GROVES MORAN TREASURER AND CFO 40.00 5.00 X 365412 0 58273 CHRISTOPHER GRAHAM ESQ SECRETARY 5.00 5.00 X 0 0 0 JAMES DAVID IT MANAGER 40.00 5.00 X 234583 0 60997 DARLENE ARMSTRONG CONF. OPS/GRANTS MGR (THRU 12/22) 40.00 5.00 X 194078 0 48776 JEFFREY CARROLL TECHNOLOGY SPECIALIST 40.00 5.00 X 103336 0 35874 1654673 0 255561 5 0 1 0 LOCKE LORDE LLP 111 HUNTINGTON AVE BOSTON MA 02111 LEGAL SERVICES 159856 KPMG LLP 60 SOUTH STREET BOSTON MA 02111 ACCOUNTING 117010 2 4263686 7095141 11358827 CONFERENCE FEES & CHARGES 900099 47904028 47904028 47904028 2872998 2872998 100190296 96706911 3483385 3483385 3483385 MISCELLANEOUS INCOME 900099 86694 86694 86694 65705932 47990722 0 6356383 1108218 477349 630869 2290019 1487487 802532 188017 188017 289905 146528 143377 206627 121644 84983 146709 104755 41954 50140 50140 186575 186575 1965 1965 1456907 1417250 39657 152992 14092 138900 1075207 147674 927533 49195203 49195203 1532809 1532809 56686 28343 28343 MISCELLANEOUS 146619 34267 112352 CONSULTANTS 135066 135066 58219664 53176557 5043107 0 6685320 5404991 0 0 0 0 40690 0 0 0 0 0 0 0 0 0 0 0 4654116 3098964 3052547 1555152 61872634 68886931 0 0 0 0 0 0 1168701 1847681 72819892 77694755 619092 263409 100000 0 0 0 0 0 0 0 0 0 0 0 0 0 3783206 3068037 4502298 3331446 X 64916057 72287850 3401537 2075459 68317594 74363309 72819892 77694755 X 7486268 -1437416 -3137 X 0 1 X 1 1 1 X 9632195 4027688 1882360 8760855 11358827 35661925 9632195 4027688 1882360 8760855 11358827 35661925 35661925 2205509 1763101 1595667 3112877 2872998 11550152 13191 36926 11828 13494 86694 162133 47374210 134423918 0.75280 0.76820 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2018 AMOUNT: $ 13,191. 2019 AMOUNT: $ 36,926. 2020 AMOUNT: $ 11,828. 2021 AMOUNT: $ 13,494. 2022 AMOUNT: $ 86,694. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4654116 3098964 1555152 1555152 ADVANCE CONFERENCE PAYMENTS 3068037 3068037 X PART X, LINE 2: GRC IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AND IS GENERALLY EXEMPT FROM INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. GRC RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. RECOGNIZED INCOME TAX POSITIONS ARE MEASURED AT THE LARGEST AMOUNT THAT IS GREATER THAN FIFTY PERCENT LIKELY OF BEING REALIZED UPON SETTLEMENT. CHANGES IN RECOGNITION IN MEASUREMENT ARE REFLECTED IN THE PERIOD IN WHICH THE CHANGE IN JUDGMENT OCCURS. GRC DID NOT RECOGNIZE THE EFFECT OF ANY INCOME TAX POSITIONS IN EITHER 2023 OR 2022. EUROPE (INCLUDING ICELAND AND GREENLAND) 0 15 PROGRAM SERVICES CONFERENCE SITES 10354409 0 15 0 0 0 15 10354409 0 10354409 0 0 1 0 0 0 PART III ACCOUNTING METHOD: X 1 1 X X X X 0 1 0 0 0 0 0 1 0 NANCY RYAN GRAY PRESIDENT AND CEO 550696 0 179568 0 27000 0 33500 0 18141 0 808905 0 0 0 TARYN GROVES MORAN TREASURER AND CFO 295094 0 70318 0 0 0 33500 0 24773 0 423685 0 0 0 JAMES DAVID IT MANAGER 177879 0 29704 0 27000 0 25804 0 35193 0 295580 0 0 0 DARLENE ARMSTRONG CONF. OPS/GRANTS MGR (THRU 12/22) 158709 0 8369 0 27000 0 21349 0 27427 0 242854 0 0 0 PART I, LINE 1A FIRST CLASS TRAVEL UPON BOARD OF TRUSTEES APPROVAL, GRC PRESIDENT AND CEO AND OTHER KEY PERSONNEL CAN TRAVEL FIRST CLASS. CONDITIONS FOR APPROVAL ARE THAT THE EMPLOYEE IS TRAVELING OVERNIGHT AND EXPECTED TO WORK THE NEXT DAY. PART I, LINE 4B NANCY RYAN GRAY (THE "EXECUTIVE") PARTICIPATES IN A SECTION 457(F) PLAN THAT IS INTENDED TO PROVIDE HER WITH DEFERRED COMPENSATION UPON THE COMPLETION OF ADDITIONAL YEARS OF SERVICE. GORDON RESEARCH CONFERENCES (THE "CORPORATION") SHALL MAKE CONTRIBUTIONS TO THE ACCOUNT IN THE AMOUNT OF $100,000 AT THE BEGINNING OF EACH OF TEN CONSECUTIVE PLAN YEARS, COMMENCING WITH THE PLAN YEAR BEGINNING MAY 1, 2020. NO FURTHER CONTRIBUTIONS SHALL BE MADE AFTER THE 10TH PLAN YEAR OR FOLLOWING THE EXECUTIVE'S DEATH OR DISABILITY OR THE FORFEITURE OF HER ACCOUNT. THE EXECUTIVE SHALL REMAIN UNVESTED IN THE ACCOUNT UNTIL THE EARLIEST OF THE FOLLOWING EVENTS: (I) AT THE END OF THE THIRD PLAN YEAR (APRIL 30, 2023), VESTING WITH PAYMENT OF $200,000 IN THE ACCOUNT, INCLUDING EARNINGS AND LOSSES; AT THE END OF THE SIXTH PLAN YEAR (APRIL 30, 2026), VESTING WITH PAYMENT OF $250,000 IN THE ACCOUNT, INCLUDING EARNINGS AND LOSSES; AND AT THE END OF THE TENTH PLAN YEAR (APRIL 30, 2030), VESTING WITH PAYMENT OF $550,000 IN THE ACCOUNT, INCLUDING EARNINGS AND LOSSES, PROVIDED THAT ON EACH VESTING DATE, THE EXECUTIVE IS EMPLOYED BY THE CORPORATION; (II) THE TERMINATION OF THE EXECUTIVE'S EMPLOYMENT BY THE CORPORATION WITHOUT CAUSE; OR (III) THE EXECUTIVE'S DISABILITY OR DEATH WHILE IN THE EMPLOY OF THE CORPORATION. THE EXECUTIVE WILL FORFEIT AMOUNTS IN HER ACCOUNT EITHER (I) ON THE DATE SHE VOLUNTARILY RESIGNS FROM HER EMPLOYMENT WITH THE CORPORATION, OR (II) ON THE DATE OF TERMINATION, IF THE CORPORATION TERMINATES HER EMPLOYMENT FOR CAUSE. PART I, LINE 7 NON-FIXED PAYMENTS THE BOARD OF TRUSTEES HAS DISCRETION IN DETERMINING THE AMOUNT OF INCENTIVE PAY PAID TO EMPLOYEES. PLEASE REFER TO SCHEDULE O (NARRATIVE FOR FORM 990, PART VI, LINE 15) FOR ADDITIONAL INFORMATION ON THE ORGANIZATION'S INCENTIVE PAY PROGRAM. PART II, COLUMN (B)(III) OTHER REPORTABLE COMPENSATION AMOUNTS IN THIS COLUMN REPRESENT EMPLOYEE 403(B) CONTRIBUTIONS. FORM 990, PART III, LINE 1 IN SUPPORT OF THIS MISSION STATEMENT, THE GRC BOARD OF TRUSTEES IS COMMITTED TO: PROVIDING A SERVICE TO THE RESEARCH AND DEVELOPMENT COMMUNITY IN THE BIOLOGICAL, CHEMICAL OR PHYSICAL SCIENCES THROUGH THE ORGANIZATION AND SUPPORT OF SCIENTIFIC CONFERENCES. EACH GORDON RESEARCH CONFERENCE HAS A RECURRING THEMATIC TOPIC AND STRIVES TO BE THE OVERALL BEST MEETING IN ITS FIELD. A CONFERENCE PROGRAM MAY EXTEND TO RELATED SUBJECTS IN AREAS SUCH AS INDUSTRIAL TECHNOLOGY, THE ENVIRONMENTAL SCIENCES, GEOLOGY, MEDICINE, COMPUTATION, SCIENCE EDUCATION, AND PUBLIC POLICY. PROVIDING AN OPEN APPLICATION PROCESS FOR ATTENDANCE AT GRC BY ACTIVE SCIENTISTS, TECHNOLOGISTS AND EDUCATORS FROM ACADEMIA, GOVERNMENT AND INDUSTRY. ASSURING A FORMAT AND SITE LOCATIONS THAT ENCOURAGE EXTENSIVE FORMAL AND INFORMAL DISCUSSION AND A SENSE OF COMMUNITY AMONG THE ATTENDEES. PLACING A PREMIUM ON THE "OFF THE RECORD" PRESENTATION OF PREVIOUSLY UNPUBLISHED SCIENTIFIC RESULTS AND ON THE CONSEQUENT AD HOC PEER DISCUSSION. USING THE GRC AS A POSITIVE INFLUENCE ON THE CULTURE OF SCIENCE AS REFLECTED IN OPENNESS TO A DIVERSITY OF NEW IDEAS AND CONCEPTS, OUTREACH TO GLOBAL SCIENCE, AND ESTABLISHMENT OF AN EGALITARIAN ENVIRONMENT FOR SCIENTIFIC DEBATE. PROVIDING A FORUM FOR CAREER NETWORKING AND CAREER ADVANCEMENT. SUPPORTING AND ENCOURAGING YOUNG SCIENTISTS AS THEY ESTABLISH INITIAL SCIENTIFIC AND PERSONAL CONTACTS. MAINTAINING A "BOTTOM-UP AND OPEN GOVERNANCE PROCESS AT ALL LEVELS OF THE GRC ORGANIZATION, INCLUDING ESTABLISHING NEW CONFERENCES, AND REVIEWING AND GOVERNING RECURRENT CONFERENCES. PROVIDING A FORUM FOR THE SYNTHESIS AND EVALUATION OF NEW CONCEPTS AS A MEANS TO CLARIFY AND CRYSTALLIZE NEW RESEARCH DIRECTIONS. MAKING THE GRC AVAILABLE TO THE WORLDWIDE SCIENTIFIC COMMUNITY AND ASSURING THAT THE GRC IS RESPONSIVE TO THE NEEDS OF A DIVERSITY OF SCIENTIFIC CULTURES AND INTERESTS. FORM 990, PART VI, SECTION A, LINE 6 COUNCIL MEMBERS GORDON RESEARCH CONFERENCES HAS A COUNCIL WHERE THE CONFERENCE CHAIRPERSON FROM EACH CONFERENCE IS A COUNCIL MEMBER. THE COUNCIL MEETS ELECTRONICALLY ONCE PER YEAR TO VOTE ON THE BOARD MEMBERS AND TO RECEIVE THE PRESIDENT'S ANNUAL REPORT. THE COUNCIL MEMBERS CHANGE EACH YEAR WITH THE CONFERENCE CHAIRPERSONS. BELOW IS AN EXCERPT FROM GORDON RESEARCH CONFERENCES' BY-LAWS REGARDING THE COUNCIL: THE CORPORATION SHALL HAVE MEMBERS WHO SHALL BE ADMITTED TO MEMBERSHIP IN ACCORDANCE WITH THESE BY-LAWS. THE CORPORATION SHALL HAVE A COUNCIL (THE COUNCIL), THE MEMBERS OF WHICH SHALL BE THE MEMBERS OF THE CORPORATION (EACH, A COUNCIL MEMBER). THE COUNCIL SHALL HAVE THE POWERS AND DUTIES SET FORTH IN THIS ARTICLE III. ALL COUNCIL MEMBERS SHALL BE NATURAL PERSONS WHO MAY BE ADMITTED TO MEMBERSHIP UNDER ANY ONE OF THE FOLLOWING PROCEDURES, AS APPLICABLE: (A) THE BOARD OF TRUSTEES MAY, IN ITS DISCRETION, GRANT ANY FOUNDING MEMBER THE PRIVILEGE OF APPOINTING ONE MEMBER OF THE COUNCIL AS A REPRESENTATIVE OF SUCH FOUNDING MEMBER FOR SUCH TERM AS THE BOARD MAY DETERMINE. (B) EACH CONFERENCE SHALL APPOINT ONE MEMBER OF THE COUNCIL AS SUCH CONFERENCE'S REPRESENTATIVE. ANY SUCH REPRESENTATIVE OF A CONFERENCE SHALL BE THE CHAIR OR CO-CHAIR OF THE CONFERENCE, ELECTED TO SUCH OFFICE DURING A MEETING OF SUCH CONFERENCE TO SERVE THROUGH CONCLUSION OF THE NEXT FOLLOWING MEETING OF SUCH CONFERENCE OR, IF THE CHAIR OR CO-CHAIRS OF SUCH CONFRENCE SHALL NO LONGER BE ABLE TO SERVE IN SUCH CAPACITY, THE DULY ELECTED VICE CHAIR OR CO-VICE CHAIR SHALL SERVE AS THE CONFERENCE'S REPRESENTATIVE TO THE COUNCIL FOR THE REMAINDER OF SUCH TERM OF OFFICE. EACH CONFERENCE REPRESENTATIVE WILL SERVE ON THE COUNCIL UNTIL THE NEXT MEETING OF THE CONFERENCE AND HIS OR HER SUCCESSOR IS DULY ELECTED. (C) EACH MEMBER OF THE BOARD OF TRUSTEES SHALL BE COUNCIL MEMBER DURING SUCH TRUSTEE'S TERM ON THE BOARD OF TRUSTEES AND FOR TWO YEARS AFTER THE EXPIRATION OF SUCH TERM. (D) EACH MEMBER OF THE SELECTION AND SCHEDULING COMMITTEE SHALL BE A COUNCIL MEMBER DURING SUCH MEMBER'S TERM ON THAT COMMITTEE. (E) THE PRESIDENT AND CEO SHALL BE EX OFFICIO, EXECUTIVE SECRETARY OF THE COUNCIL AND SHALL BE MEMBER OF THE COUNCIL. FORM 990, PART VI, SECTION A, LINE 7A SEE LINE 6 EXPLANATION. FORM 990, PART VI, SECTION A, LINE 7B SEE LINE 6 EXPLANATION. FORM 990, PART VI, SECTION B, LINE 11B DATA IS COLLECTED AND PREPARED BY THE FINANCIAL OPERATIONS MANAGER ("FOM"). THE FOM FORWARDS THE INFORMATION TO KPMG, WHO COMPLETES THE RETURN USING THIS MATERIAL AS WELL AS THE ISSUED FINANCIAL STATEMENTS. THE COMPLETED RETURN IS REVIEWED BY THE FOM AND IS PROVIDED TO THE PRESIDENT FOR REVIEW AND DISCUSSION. THE DRAFT OF THE 990 RETURN IS FORWARDED VIA E-MAIL ATTACHMENT TO THE GRC BOT, INCLUDING FINANCE AND AUDIT COMMITTEES, FOR TRUSTEE REVIEW. COMMENTS, IF ANY, ARE FORWARDED BACK TO THE FOM AND PRESIDENT AND, IF NEEDED, ARE ADDRESSED. FORM 990, PART VI, SECTION B, LINE 12C THE GRC CONFLICT OF INTEREST POLICY COVERS MEMBERS OF GRC'S BOARD OF TRUSTEES, OFFICERS AND SENIOR EMPLOYEES HAVING DECISION-MARKING AUTHORITY. AS A MATTER OF PRACTICE, GRC ALSO ASKS NON-ELECTED MEMBERS OF BOARD COMMITTEES TO COMPLETE CIP FORM. UPON ELECTION OF THE BOARD OF TRUSTEES OR GRC OFFICE, OR UPON HIS OR HER HIRE, INDIVIDUALS COVERED BY THE POLICY ARE ASKED TO REVIEW THE POLICY AND COMPLETE THE CONFLICT QUESTIONNAIRE, SIGNING AND RETURNING THE COMPLETED QUESTIONNAIRE TO GRC'S COUNSEL. EVERY 12 MONTHS, EACH INDIVIDUAL IS ASKED TO REVIEW THE POLICY, COMPLETE ANY REQUIRED DISCLOSURE, AND SIGN A NEW QUESTIONNAIRE. A COPY OF THE POLICY IS SENT TO EACH COVERED PERSON AT THE TIME SUCH REQUEST IS MADE. GRC'S COUNSEL IS RESPONSIBLE FOR COLLECTING THE COMPLETED QUESTIONNAIRES AND ENSURING THEY HAVE BEEN UPDATED ANNUALLY. A COMPILATION OF ALL COMPLETED FORMS, AND THEIR DATE OF LAST COMPLETION, IS MAINTAINED AT THE OFFICES OF COUNSEL. COUNSEL REVIEWS ALL COMPLETED QUESTIONNAIRES TO IDENTIFY ANY DISCLOSURE MADE BY ANY COVERED PERSON. IF THERE ARE DISCLOSURES MADE, COUNSEL MAKES A PRELIMINARY DETERMINATION OF WHETHER A CONFLICT COULD EXIST. IF COUNSEL BELIEVES THERE COULD BE A CONFLICT, COUNSEL THEN BRINGS THE DISCLOSURE TO THE PRESIDENT (UNLESS THE PRESIDENT HAS MADE THE DISCLOSURE) AND THE CORPORATE GOVERNANCE COMMITTEE OF THE BOARD FOR A DETERMINATION BY THE COMMITTEE AS TO WHETHER A CONFLICT MAY EXIST OR DISCLOSURE SHOULD BE MADE TO THE FULL BOARD. THE COMMITTEE IS TO ADVISE THE BOARD AT EACH MEETING IF THERE ARE ANY ISSUES TO BE ADDRESSED. IF A DISCLOSURE IS MADE IN A QUESTIONNAIRE THAT COUNSEL OF THE COMMITTEE DETERMINE IS NOT A POSSIBLE CONFLICT, THE COMMITTEE HAS NO OBLIGATION TO REPORT SUCH DISCLOSURE TO THE FULL BOARD. IF A DISCLOSURE IS DETERMINED BY COUNSEL OR THE COMMITTEE TO BE A POSSIBLE CONFLICT, DISCLOSURE IS MADE TO THE ENTIRE BOARD. THE POSSIBLY CONFLICTED PERSON IS TO LEAVE THE MEETING IF THE CONFLICT IS TO BE VOTED UPON. DISINTERESTED MEMBERS OF THE BOARD WILL VOTE ON WHETHER A CONFLICT EXISTS. IT IS POSSIBLE THAT COUNSEL OR THE COMMITTEE WILL DETERMINE THAT A DISCLOSURE DOES NOT GIVE RISE TO POSSIBLE CONFLICT, BUT THE COMMITTEE WILL BRING THE DISCLOSURE TO THE FULL BOARD TO ENSURE THE BOARD IS APPRISED OF THE MATTER. IF A CONFLICT EXISTS, THE BOARD WILL EVALUATE ANY PROPOSED TRANSACTION INVOLVING THE CONFLICTED PERSON IN ACCORDANCE WITH THE POLICY'S PROCEDURES. FORM 990, PART VI, SECTION B, LINE 15 THE GRC COMPENSATION POLICY IS TO BE MARKET COMPETITIVE WITH OUR PEER GROUP IN THE NOT FOR PROFIT SECTOR AND TO PAY FOR PERFORMANCE IN ORDER TO ATTRACT, RETAIN AND MOTIVATE HIGH QUALITY EMPLOYEES. TO ACHIEVE THIS END THE GRC WILL HAVE A COMPENSATION PLAN THAT INCLUDES A FIXED SALARY, AN INCENTIVE PAY OPPORTUNITY AND COMPETITIVE BENEFITS. SALARY CHANGE AND INCENTIVE PAY SHALL BE BASED ON AN ANNUAL REVIEW OF EACH EMPLOYEE'S ACCOMPLISHMENTS VS. EXPECTATIONS AS SET FORTH IN THE GRC PERFORMANCE MANAGEMENT SYSTEM. A BASE SALARY RANGE WILL BE ESTABLISHED FOR EACH POSITION WITH A BASE SALARY TARGET AND A MINIMUM BASE SET AT 80% OF THE BASE SALARY TARGET. WHILE THE BASE SALARY TARGET WILL NOT BE A MAXIMUM, GENERALLY BASE SALARY WILL BE PAID BETWEEN MINIMUM AND THE TARGET. THE PRESIDENT WILL HAVE A STANDARD PERFORMANCE INCENTIVE PAY OPPORTUNITY OF 15% OF BASE SALARY AND A MAXIMUM INCENTIVE PAY OPPORTUNITY OF UP TO 30% OF BASE SALARY FOR OUTSTANDING PERFORMANCE. THE OTHER MANAGERS WILL HAVE A STANDARD PERFORMANCE INCENTIVE PAY OPPORTUNITY OF 10% OF BASE SALARY AND A MAXIMUM INCENTIVE PAY OPPORTUNITY OF UP TO 20% OF BASE SALARY FOR OUTSTANDING PERFORMANCE. IN 2021, THE BOARD OF TRUSTEES APPROVED THE OPTION FOR UP TO AN EXTRA 5% INCENTIVE PAY FOR OUTSTANDING OPERATIONAL PERFORMANCE. THE BASE SALARY RANGES WILL BE DESIGNED SO THAT THE BASE SALARY TARGET, PLUS THE MAXIMUM INCENTIVE PAY OPPORTUNITY (FOR OUTSTANDING PERFORMANCE), PLUS THE VALUE OF THE BENEFITS OFFERED, WILL APPROXIMATE COMPENSATION FOR THIRD QUARTILE. IF A MANAGER IS PAID BELOW THE BASE SALARY TARGET AND RECEIVES A STANDARD PERFORMANCE INCENTIVE PAY RATHER THAN AN OUTSTANDING PERFORMANCE INCENTIVE PAY, THE EXECUTIVE WILL BE PAID CLOSE TO THE MEDIAN OF THE MARKETPLACE. BENEFITS SHALL BE WHAT ARE REASONABLE AND EXPECTED IN THE PROVIDENCE AREA MARKET. THE COMPENSATION COMMITTEE (CC) OF GRC MAY HIRE AN OUTSIDE CONSULTANT AS APPROPRIATE TO ASSIST IN REVIEW OF THE ANNUAL COMPENSATION PLAN AND TO PROVIDE AN INTERMEDIATE SANCTIONS OPINION. A DETAILED ANALYSIS OF SALARY RANGES IN OUR PEER GROUP FOR POSITIONS COMPARABLE TO THE TOP FIVE POSITIONS AT GRC SHOULD BE PERFORMED AT LEAST EVERY 3RD YEAR. PROCESS: 1. ANNUALLY THE EC SHALL RECOMMEND TO THE CC A SALARY AND INCENTIVE PLAN FOR THE PRESIDENT OF GRC BASED ON PERFORMANCE. 2. ANNUALLY THE PRESIDENT OF GRC SHALL RECOMMEND TO THE CC SALARIES AND INCENTIVE PAY FOR THE PRESIDENT'S DIRECT REPORTS BASED ON PERFORMANCE. 3. ANNUALLY THE PRESIDENT OF GRC SHALL RECOMMEND TO THE CC COMPENSATION AND INCENTIVE PAY POOL FOR ALL OTHER STAFF BASED ON PERFORMANCE. 4. ANNUALLY THE CC WILL CONSIDER THESE RECOMMENDATIONS AND PREPARE A MOTION COVERING THE PRESIDENT'S COMPENSATION AND THE TOTAL OF ALL OTHER COMPENSATION FOR CONSIDERATION AND ACTION BY THE BOARD OF TRUSTEES, AT ITS SPRING MEETING. ADDITIONALLY, GORDON RESEARCH CONFERENCES MEETS ALL THREE REQUIREMENTS OF THE REBUTTABLE PRESUMPTION STANDARD AS SET FORTH IN TREASURY REGULATION SECTION 53.4958-6(A) BECAUSE IT: 1. HAS AN INDEPENDENT BODY THAT REVIEWS AND APPROVES COMPENSATION 2. USES INDEPENDENT COMPENSATION COMPARABILITY DATA OBTAINED FROM AN OUTSIDE FIRM, 3. ADEQUATELY AND TIMELY DOCUMENTS THE BASIS FORM COMPENSATION DETERMINATIONS CONCURRENTLY WITH MAKING SUCH DETERMINATIONS. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST, INDIVIDUALS ARE DIRECTED TO WWW.GUIDESTAR.ORG, OR PROVIDED A COPY OF THE MOST RECENTLY FILED FORM 990 VIA EMAIL ATTACHMENT OR A PAPER COPY VIA US POSTAL SERVICE. FORM 990, PART XI, LINE 9: OTHER ADJUSTMENT -3,137. GORDON RESEARCH CONFERENCES(HONG KONG) C/O LISTER LO LUICHOV 2703 THE CENTER QUEEN RD HK EDUC. CONFER. HK GRC INC 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 GORDON RESEARCH CONFERNCES(HONG KONG) E 1132157 CASH