Return Reference | Explanation |
---|---|
Form 990, Part VI, Line 11b: Form 990 Review Process | The 990 will be reviewed by OpenAI's accounting team with the Secretary and tax return preparer, and the Secretary will then present it to the board or their designee. |
Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts | The Secretary reminds board members and officers annually of the policy and answers any questions the board or officers may have. |
Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management | Determined by a committee of disinterested Board members using comparability data |
Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees | Determined by a committee of disinterested Board members using comparability data |
Form 990, Part VI, Line 19: Other Organization Documents Publicly Available | Documents available upon request. |
Part VI, Section B, Line 16.a | The organization does not have a written joint venture policy with its controlled partnership, OpenAI, LP (the "Partnership"), but took extensive steps to safeguard its exempt status, including maintaining control of the Partnership (through control of its general partner) to ensure that the Partnership furthers the organizations exempt purposes, requiring the Partnership to have terms in its partnership agreement to give priority to exempt purposes over maximizing profits for the other participants, preventing the Partnership from engaging in activities that would jeopardize the organization's exemption, and requiring all contracts entered into with the organization to be on terms that are at arm's length or more favorable to the organization. |
Software ID: | 21013475 |
Software Version: | 2021v4.1 |