TY 2017 Form 990 Schedule O

efile Public Visual Render ObjectId: 201832849349300448 - Submission: 2018-10-11 TIN: 20-0617900

SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
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Attach to Form 990 or 990-EZ.
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Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2017

Open to Public
Inspection

Name of the organization

NEWSEUM INSTITUTE INC

Employer identification number

20-0617900

Return Reference	Explanation
FORM 990, PART VI, SECTION A, LINE 2	JACK KIRSCHENBAUM, DIRECTOR AND MALCOLM KIRSCHENBAUM, DIRECTOR, HAVE A FAMILY RELATIONSHIP.
FORM 990, PART VI, SECTION B, LINE 11B	NEWSEUM INSTITUTE'S AUDIT COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE FORM 990 IN A FORMAL PRESENTATION. THE AUDIT COMMITTEE PRESENTS ITS REPORT OF DELIBERATIONS TO THE FULL BOARD OF TRUSTEES AND MAKES FORM 990 AVAILABLE TO ALL MEMBERS OF THE BOARD PRIOR TO THE FILING OF THE 990 WITH THE INTERNAL REVENUE SERVICE.
FORM 990, PART VI, SECTION B, LINE 12C	EACH YEAR, ALL OFFICERS, TRUSTEES, AND KEY EMPLOYEES RECEIVE A COPY OF THE CONFLICT OF INTEREST POLICY AND AN INDEPENDENCE DISCLOSURE QUESTIONNAIRE. THE CONFLICT OF INTEREST POLICY PROVIDES DETAIL ON THE PROCEDURES TO BE USED IN ADDRESSING CONFLICTS AND ANY VIOLATIONS OF THE CONFLICT OF INTEREST POLICY. A TRUSTEE OR OFFICER WHO HAS OR LEARNS ABOUT A POTENTIAL CONFLICT OF INTEREST SHOULD DISCLOSE PROMPTLY TO THE SECRETARY OF THE CORPORATION THE MATERIAL FACTS SURROUNDING ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST. FOLLOWING RECEIPT OF INFORMATION CONCERNING A CONTRACT OR TRANSACTION INVOLVING A POTENTIAL CONFLICT OF INTEREST, THE BOARD SHALL CONSIDER THE MATERIAL FACTS CONCERNING THE PROPOSED CONTRACT OR TRANSACTION INCLUDING THE PROCESS BY WHICH THE DECISION WAS MADE TO RECOMMEND ENTERING INTO THE ARRANGEMENT ON THE TERMS PROPOSED. AT THE TIME OF THE DISCUSSION AND DECISION CONCERNING THE AUTHORIZATION OF SUCH CONTRACT OR TRANSACTION, THE INTERESTED TRUSTEE OR OFFICER SHOULD NOT BE PRESENT AT THE MEETING. THE CHIEF EXECUTIVE OFFICER IS RESPONSIBLE FOR DETERMINING THE PROPER WAY FOR THE NEWSEUM INSTITUTE TO HANDLE CORPORATION DECISION WHICH INVOLVES UNRESOLVED EMPLOYEE CONFLICT OF INTEREST. THE CEO REPORTS TO THE BOARD AT LEAST ANNUALLY CONCERNING EMPLOYEE CONFLICTS OF INTEREST.
FORM 990, PART VI, SECTION B, LINE 15	BIANNUALLY, THE BOARD OF TRUSTEES RETAINS THE SERVICES OF A THIRD PARTY INDEPENDENT CONSULTANT TO CONDUCT AN INTERMEDIATE SANCTIONS COMPLIANCE ANALYSIS FOR THE NEWSEUM INSTITUTE TO ASSIST THE ORGANIZATION IN ITS EFFORTS TO COMPLY WITH INTERMEDIATE SANCTIONS LEGISLATION. THE METHODOLOGY EMPLOYED INCLUDES COLLECTING BASE SALARY AND TOTAL CASH COMPENSATION FROM NATIONAL PUBLISHED SURVEY SOURCES ; CREATING PEER GROUPS CONSISTING OF SIMILAR-SIZED ORGANIZATIONS AND ANALYZING COMPETITIVENESS OF TOTAL CASH COMPENSATION FOR NON-PROFIT ORGANIZATIONS (USING FORM 990'S); COLLECTING CURRENT BENEFIT AND PREREQUISITE OFFERINGS FROM NATIONAL PUBLISHED SURVEY SOURCES; UTILIZING NEWSEUM INSTITUTE'S COMPENSATION PHILOSOPHY TO EVALUATE COMPETITIVE COMPARISONS; AND PROVIDING A RECOMMENDED COMPLIANCE DECISION TO THE NEWSEUM INSTITUTE'S EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE OF THE BOARD REVIEWS THE INTERMEDIATE SANCTIONS COMPLIANCE REPORTS IN DETAIL AND ASCERTAINS THE REASONABLENESS OF THE NEWSEUM INSTITUTE'S TOTAL REWARDS BASED ON THE THIRD PARTY ANALYSIS. THE BOARD THEN AUTHORIZES THE USE OF THE SAFE HARBOR/REBUTTABLE PRESUMPTION AND APPROVES COMPENSATION.
FORM 990, PART VI, SECTION C, LINE 19	NEWSEUM INSTITUTE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.

Return Reference

Explanation

FORM 990, PART VI, SECTION A, LINE 2

JACK KIRSCHENBAUM, DIRECTOR AND MALCOLM KIRSCHENBAUM, DIRECTOR, HAVE A FAMILY RELATIONSHIP.

FORM 990, PART VI, SECTION B, LINE 11B

NEWSEUM INSTITUTE'S AUDIT COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE FORM 990 IN A FORMAL PRESENTATION. THE AUDIT COMMITTEE PRESENTS ITS REPORT OF DELIBERATIONS TO THE FULL BOARD OF TRUSTEES AND MAKES FORM 990 AVAILABLE TO ALL MEMBERS OF THE BOARD PRIOR TO THE FILING OF THE 990 WITH THE INTERNAL REVENUE SERVICE.

FORM 990, PART VI, SECTION B, LINE 12C

EACH YEAR, ALL OFFICERS, TRUSTEES, AND KEY EMPLOYEES RECEIVE A COPY OF THE CONFLICT OF INTEREST POLICY AND AN INDEPENDENCE DISCLOSURE QUESTIONNAIRE. THE CONFLICT OF INTEREST POLICY PROVIDES DETAIL ON THE PROCEDURES TO BE USED IN ADDRESSING CONFLICTS AND ANY VIOLATIONS OF THE CONFLICT OF INTEREST POLICY. A TRUSTEE OR OFFICER WHO HAS OR LEARNS ABOUT A POTENTIAL CONFLICT OF INTEREST SHOULD DISCLOSE PROMPTLY TO THE SECRETARY OF THE CORPORATION THE MATERIAL FACTS SURROUNDING ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST. FOLLOWING RECEIPT OF INFORMATION CONCERNING A CONTRACT OR TRANSACTION INVOLVING A POTENTIAL CONFLICT OF INTEREST, THE BOARD SHALL CONSIDER THE MATERIAL FACTS CONCERNING THE PROPOSED CONTRACT OR TRANSACTION INCLUDING THE PROCESS BY WHICH THE DECISION WAS MADE TO RECOMMEND ENTERING INTO THE ARRANGEMENT ON THE TERMS PROPOSED. AT THE TIME OF THE DISCUSSION AND DECISION CONCERNING THE AUTHORIZATION OF SUCH CONTRACT OR TRANSACTION, THE INTERESTED TRUSTEE OR OFFICER SHOULD NOT BE PRESENT AT THE MEETING. THE CHIEF EXECUTIVE OFFICER IS RESPONSIBLE FOR DETERMINING THE PROPER WAY FOR THE NEWSEUM INSTITUTE TO HANDLE CORPORATION DECISION WHICH INVOLVES UNRESOLVED EMPLOYEE CONFLICT OF INTEREST. THE CEO REPORTS TO THE BOARD AT LEAST ANNUALLY CONCERNING EMPLOYEE CONFLICTS OF INTEREST.

FORM 990, PART VI, SECTION B, LINE 15

BIANNUALLY, THE BOARD OF TRUSTEES RETAINS THE SERVICES OF A THIRD PARTY INDEPENDENT CONSULTANT TO CONDUCT AN INTERMEDIATE SANCTIONS COMPLIANCE ANALYSIS FOR THE NEWSEUM INSTITUTE TO ASSIST THE ORGANIZATION IN ITS EFFORTS TO COMPLY WITH INTERMEDIATE SANCTIONS LEGISLATION. THE METHODOLOGY EMPLOYED INCLUDES COLLECTING BASE SALARY AND TOTAL CASH COMPENSATION FROM NATIONAL PUBLISHED SURVEY SOURCES ; CREATING PEER GROUPS CONSISTING OF SIMILAR-SIZED ORGANIZATIONS AND ANALYZING COMPETITIVENESS OF TOTAL CASH COMPENSATION FOR NON-PROFIT ORGANIZATIONS (USING FORM 990'S); COLLECTING CURRENT BENEFIT AND PREREQUISITE OFFERINGS FROM NATIONAL PUBLISHED SURVEY SOURCES; UTILIZING NEWSEUM INSTITUTE'S COMPENSATION PHILOSOPHY TO EVALUATE COMPETITIVE COMPARISONS; AND PROVIDING A RECOMMENDED COMPLIANCE DECISION TO THE NEWSEUM INSTITUTE'S EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE OF THE BOARD REVIEWS THE INTERMEDIATE SANCTIONS COMPLIANCE REPORTS IN DETAIL AND ASCERTAINS THE REASONABLENESS OF THE NEWSEUM INSTITUTE'S TOTAL REWARDS BASED ON THE THIRD PARTY ANALYSIS. THE BOARD THEN AUTHORIZES THE USE OF THE SAFE HARBOR/REBUTTABLE PRESUMPTION AND APPROVES COMPENSATION.

FORM 990, PART VI, SECTION C, LINE 19

NEWSEUM INSTITUTE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2017

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