2025-09-05T14:02:18-05:00 2024-12-31 721088864 LAPORTE APAC 111 VETERANS MEMORIAL BLVD 600 METAIRIE LA 700054958 990 2024-01-01 720408914 BUREAU OF GOVERNMENTAL RESEARCH INC BURE 5045254152 1055 ST CHARLES AVE 200 NEW ORLEANS LA 70130 REBECCA MOWBRAY PRESIDENT & CEO 5045254152 2025-08-26 1 1 JOHN S WILES CPA P01222673 5048355522 2025-08-26 2024 2025-03-06 01:10:19Z REBECCA MOWBRAY 1055 ST CHARLES AVE 200 NEW ORLEANS LA 70130 1602771 0 X WWW.BGR.ORG X 1932 LA THE BUREAU OF GOVERNMENTAL RESEARCH IS A PRIVATE, NONPROFIT, INDEPENDENT (CONT'D ON SCH. O) RESEARCH ORGANIZATION DEDICATED TO INFORMED PUBLIC POLICY MAKING AND THE EFFECTIVE USE OF PUBLIC RESOURCES FOR THE IMPROVEMENT OF GOVERNMENT IN THE GREATER NEW ORLEANS METROPOLITAN AREA. 29 29 16 0 0 0 826175 907680 0 0 528508 371307 -39060 -52861 1315623 1226126 0 0 0 0 849935 836035 0 0 167677 309427 340763 1159362 1176798 156261 49328 10107586 10544154 100451 50317 10007135 10493837 X THE BUREAU OF GOVERNMENTAL RESEARCH IS A PRIVATE, NONPROFIT, INDEPENDENT RESEARCH ORGANIZATION DEDICATED TO INFORMED PUBLIC POLICY MAKING AND THE EFFECTIVE USE OF PUBLIC RESOURCES FOR THE IMPROVEMENT OF GOVERNMENT IN THE NEW ORLEANS METROPOLITAN AREA. 0 0 720309 MONITORING AND REPORTING ON LOCAL GOVERNMENT ISSUES: IN 2024 BGR REPORTED ON MANY COMPLEX ISSUES IN LOCAL GOVERNANCE IN 10 REPORTS. AMONG THE HIGHLIGHTS: IN 2024, BGR PUBLISHED 2 "ON THE BALLOT" REPORTS TO INFORM VOTERS ABOUT IMPORTANT LOCAL PROPOSITIONS. THESE REPORTS ANALYZED A PROPOSED TAX INCREASE FOR THE JEFFERSON PARISH SCHOOL BOARD, AND A PROPOSED CITY CHARTER AMENDMENT FOR NEW ORLEANS. VOTERS DISAGREED WITH BGR'S POSITION FOR THE CITY CHARTER AMENDMENT AND NARROWLY DISAGREED WITH BGR'S POSITION FOR THE PROPOSED TAX INCREASE FOR THE JPSB. IN SEPTEMBER, BGR PUBLISHED A MAJOR REPORT ON THE "FAIR SHARE" DEAL. WE FOUND THAT THE DEAL IS PROVIDING SIGNIFICANT RECURRING REVENUE FOR ESSENTIAL CITY OF NEW ORLEANS AND SEWERAGE & WATER (CONT'D ON SCH O) BOARD INFRASTRUCTURE ALL AT LITTLE OR NO COST TO LOCAL TAXPAYERS. BGR ALSO MADE NEW RECOMMENDATIONS TO IMPROVE PUBLIC TRANSPARENCY AND ACCOUNTABILITY FOR THE USE OF THE FUNDS.IN FEBRUARY, WE PUBLISHED OUR PROPERTY TAX DASHBOARDS, A NEW ONLINE RESOURCE ON BGR'S WEBSITE. HERE, YOU CAN LEARN ABOUT THE PROPERTY TAXES YOU PAY IN ORLEANS, JEFFERSON, AND ST. TAMMANY PARISHES. THE TAX DASHBOARDS' INTERACTIVE CHARTS AND TABLES BREAK DOWN PROPERTY TAX BILLS, WHERE THE MONEY GOES, AND HOW TAX RATES AND PURPOSES HAVE CHANGED OVER TIME. BGR ACCOMPANIED THE DASHBOARDS WITH AN EDUCATIONAL PRIMER ON PROPERTY TAXES IN LOUISIANA. IN DECEMBER, WE UPDATED THE DASHBOARDS WITH TAX RATES LEVIED FOR 2024 (JEFFERSON AND ST. TAMMANY) AND 2025 (ORLEANS).IN 2024, BGR RESEARCH STAFF MONITORED MORE THAN 70 STATE AND LOCAL GOVERNMENT AGENCIES THROUGHOUT THE NEW ORLEANS AREA, INCLUDING THE NEW ORLEANS CITY COUNCIL AND ITS COMMITTEES. BGR ALSO TRACKED THE LOUISIANA LEGISLATURE AND ANY BILLS THAT WERE OF PARTICULAR IMPORTANCE TO THE LOCAL COMMUNITY. AFTER RESEARCH IS COMPLETED, BGR PURSUES PROPER IMPLEMENTATION OF THEIR RECOMMENDATIONS, SOMETIMES OVER THE COURSE OF MANY YEARS. THIS IS DONE THROUGH A SERIES OF FOLLOW-UP PUBLICATIONS AND OUTREACH TO CITIZENS GROUPS, THE MEDIA, DECISION-MAKERS, AND OTHER KEY STAKEHOLDERS IN RELEVANT POLICY AREAS. IN TERMS OF EFFECTIVENESS, BGR HAS HAD SUCCESSFUL POSITIONS ON BALLOT RESULTS 79% OF THE TIME SINCE 2014ANOTHER MEASURE OF BGR'S IMPACT IS ITS PRESENCE IN THE MEDIA AND LEVEL OF ENGAGEMENT WITH THEIR CONTENT. IN 2024, THE NEWS MEDIA CITED BGR REPORTS MORE THAN 100 TIMES. FOR ITS WORK, BGR HAS RECEIVED MANY AWARDS AND RECOGNITIONS FROM THE GOVERNMENTAL RESEARCH ASSOCIATION. IN 2024 BGR WON THE MOST DISTINGUISHED RESEARCH AWARD FOR OUR 2023 REPORT ON NEW ORLEANS SEWERAGE AND WATER BOARD GOVERNANCE, THE CERTIFICATE OF MERIT FOR BEST DIGITAL COMMUNICATION FOR OUR ONLINE PROPERTY TAX DASHBOARDS, AND THE CERTIFICATE OF MERIT FOR BEST SHORT-FORM WRITING FOR OUR LETTER TO THE MAYOR OF NEW ORLEANS ON USE OF ITS GENERAL FUND BALANCE.BGR'S WORK SERVES CITIZENS ACROSS MANY LOCALITIES INCLUDING JEFFERSON, ORLEANS, AND ST. TAMMANY PARISHES. BASED ON 2020 U.S. CENSUS DATA, THE POTENTIAL REACH OF BGR'S MONITORING AND REPORTING IS APPROXIMATELY 1 MILLION PEOPLE. 25839 BREAKFAST BRIEFINGS: BGR'S BREAKFAST BRIEFINGS ARE PUBLIC FORUMS WHERE EXPERTS AND DECISION-MAKERS ARE INVITED TO SHARE THEIR THOUGHTS ON MAJOR PUBLIC POLICY ISSUES IN THE AREA. THESE EVENTS KEEP CITIZENS INFORMED AND MOTIVATE CIVIC ENGAGEMENT AND AN INFORMED PUBLIC POLICY DIALOGUE, ALL OF WHICH ARE KEY COMPONENTS OF BGR'S MISSION AND ESSENTIAL INGREDIENTS FOR EFFECTIVE GOVERNMENT. IN 2024, BGR HOSTED 4 BREAKFAST BRIEFINGS. ON MARCH 21, BGR PRESENTED A BREAKFAST BRIEFING WITH THE DIRECTOR OF THE HEALTH DEPARTMENT FOR THE CITY OF NEW ORLEANS DR. JENNIFER L. AVEGNO, THE DIRECTOR OF HOMELESS SERVICES AND STRATEGIES FOR THE MAYOR'S OFFICE NATHANIEL E. FIELDS AND CITY COUNCILMEMBER FOR DISTRICT B LESLI HARRIS WHO DISCUSSED ADDRESSING HOMELESSNESS THROUGH HEALTH AND PUBLIC-PRIVATE (CONT'D ON SCH O) PARTNERSHIPS. ON APRIL 16, BGR PRESENTED A BREAKFAST BRIEFING WITH CYNTHIA LEE SHENG, JEFFERSON PARISH PRESIDENT, AND MARK DREWES, DIRECTOR OF THE JEFFERSON PARISH DEPARTMENT OF PUBLIC WORKS, WHO DISCUSSED UPGRADING AGING INFRASTRUCTURE IN JEFFERSON PARISH. ON JUNE 26, BGR PRESENTED A BREAKFAST BRIEFING ENTITLED "FRENCH QUARTER IN FOCUS: A CONVERSATION ON THE STATE OF THE VIEUX CARRE AS NEW ORLEANS PREPARES TO HOST SUPER BOWL LIX." BGR'S PRESIDENT AND CEO BECKY MOWBRAY MODERATED A CONVERSATION WITH THREE INDIVIDUALS OFFERING DIFFERENT PERSPECTIVES ON THE FRENCH QUARTER: NATHAN CHAPMAN, PRESIDENT OF VIEUX CARRE PROPERTY OWNERS, RESIDENTS & ASSOCIATES, INC.; DANIEL HAMMER, PRESIDENT AND CEO OF THE HISTORIC NEW ORLEANS COLLECTION; AND MICHAEL HECHT, PRESIDENT AND CEO OF GREATER NEW ORLEANS, INC. ON SEPTEMBER 10, BGR HOSTED ITS FOURTH AND FINAL BREAKFAST BRIEFING OF THE YEAR. OUR SPEAKER WAS GHASSAN KORBAN, EXECUTIVE DIRECTOR OF THE SEWERAGE AND WATER BOARD OF NEW ORLEANS. MR. KORBAN PROVIDED AN UPDATE ON THE UTILITY'S ONGOING EFFORTS TO ADDRESS INFRASTRUCTURE CHALLENGES, IMPROVE OPERATIONS AND BILLING, AND DEVELOP PLANS FOR STRONGER WATER, SEWER, AND DRAINAGE SYSTEMS FOR NEW ORLEANS. WITH THE UTILITY FACING TROPICAL STORM FRANCINE, HE ALSO PROVIDED A STATUS UPDATE ON THE DRAINAGE PUMPS AND STAFF PREPARATIONS FOR THE STORM. FOLLOWING MR. KORBAN'S PRESENTATION, BGR'S PRESIDENT AND CEO REBECCA MOWBRAY MODERATED THE AUDIENCE Q&A. 746148 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 16 0 1 16 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 29 29 1 0 1 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 LA X X X DEREK LANDRUM 5045254152 1055 ST CHARLES AVENUE SUITE 200 NEW ORLEANS LA 70130 ANNE P BANOS SECRETARY 4.00 X X 0 0 0 STEVEN W USDIN VICE CHAIR 4.00 X X 0 0 0 VANESSA B CLAIBORNE ASSISTANT TREASURER 4.00 X X 0 0 0 LOUIS M FREEMAN JR TREASURER 4.00 X X 0 0 0 H MERRITT LANE III CHAIR 10.00 X X 0 0 0 NATHALIE SIMON ASSISTANT SECRETARY 4.00 X X 0 0 0 NORMA GRACE PAST CHAIR 4.00 X X 0 0 0 PERRY EASTMAN IV MEMBER 2.00 X 0 0 0 KENNETH ST CHARLES MEMBER 2.00 X 0 0 0 MELANIE BRONFIN MEMBER 2.00 X 0 0 0 MOLLYE M DEMOSTHENIDY MEMBER 2.00 X 0 0 0 PATTY RIDDLEBARGER MEMBER 2.00 X 0 0 0 RYAN ADKERSON MEMBER 2.00 X 0 0 0 R FOSTER DUNCAN MEMBER 2.00 X 0 0 0 RONALD P MCCLAIN MEMBER 2.00 X 0 0 0 JOHN LANDRUM MEMBER 2.00 X 0 0 0 SYRITA STEIB MEMBER 2.00 X 0 0 0 JONATHAN WILSON 010124 - 22824 EXECUTIVE COMMITTEE 4.00 X 0 0 0 CARLIN CONNER MEMBER 2.00 X 0 0 0 VERA TRIPLETT MEMBER 2.00 X 0 0 0 JENNIFER ROBERTS MEMBER 2.00 X 0 0 0 BEN A DUPUY EXECUTIVE COMMITTEE 4.00 X 0 0 0 CHARLES WEST MEMBER 2.00 X 0 0 0 DAVID C RIEVESCHL MEMBER 2.00 X 0 0 0 DOUGLAS M STOKES MEMBER 2.00 X 0 0 0 JESSIE HAYNES MEMBER 2.00 X 0 0 0 ELIZABETH HEFLER MEMBER 2.00 X 0 0 0 ELIZABETH BOH MEMBER 2.00 X 0 0 0 GRAHAM RALSTON MEMBER 2.00 X 0 0 0 ILEANA LEDET 010124 - 061424 MEMBER 2.00 X 0 0 0 LAMAR VILLERE EXECUTIVE COMMITTEE 4.00 X 0 0 0 REBECCA MOWBRAY PRESIDENT/CEO 40.00 X 203071 0 23589 STEPHEN B STUART VP & RESEARCH DIRECTOR 40.00 X 137052 0 4215 340123 0 27804 2 0 1 0 0 393593 174337 339750 907680 263752 263752 385039 277484 107555 107555 107555 44365 174337 99161 -54796 -54796 MISCELLANEOUS 900099 1935 1935 1935 1226126 0 0 318446 203072 133093 38462 31517 513660 336653 97287 79720 20427 13388 3869 3170 46484 30466 8804 7214 52392 34338 9923 8131 78231 78231 28347 7715 19598 1034 20965 17820 3145 5819 5469 175 175 37440 35194 1123 1123 68437 64331 2053 2053 5353 5031 161 161 8942 8406 268 268 DEVELOPMENT 32159 2316 29843 EVENT EXPENSES 25839 25839 DUES AND SUBSCRIPTIONS 13436 13436 STAFF DEVELOPMENT 11108 11108 4687 3861 703 123 1176798 746148 262973 167677 823911 947419 93775 98000 17492 14162 84990 79081 9258 5909 9078794 9456944 84356 21720 10107586 10544154 14917 10229 20000 85534 20088 100451 50317 X 1075218 1153987 8931917 9339850 10007135 10493837 10107586 10544154 49328 460821 -23447 0 X X 0 1 X 1 0 X 1813295 800618 1014484 826175 906177 5360749 1813295 800618 1014484 826175 906177 5360749 1247465 4113284 266084 179762 237638 234380 263752 1181616 1035 1935 2970 6545335 0.62840 0.63030 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13379 13379 1261077 1274456 202446 50612 0 0 187420 192694 198432 202446 780992 1171488 658 547 1765 13379 16349 46855 48174 49608 50612 195249 292874 8836744 782723 416617 9202850 8046496 1189610 398961 8836744 9970261 -1642161 282004 8046496 9255756 1014535 300000 9970261 7739943 1000000 868752 352939 9255756 0.54888 0.45112 1 0 84990 79081 5909 5909 LEASE LIABILITIES 20088 20088 X 1872010 460821 109350 99160 669331 1202679 23447 23447 1226126 1385308 109350 99160 208510 1176798 0 1176798 PART V, LINE 4: BGR'S ENDOWMENTS CONSIST OF DONOR RESTRICTED GNOF INVESTMENT POOL FUND, THE JANET HOWARD CHAIR IN GOVERNMENTAL RESEARCH ENDOWMENT FUND (HOWARD CHAIR), THE BGR ENDOWMENT FUND CREATED BY BGR, AND THE ZEMURRAY FUND. GNOF INVESTMENT POOL FUND IS MAINTAINED AND MANAGED BY THE GNOF WITHIN THEIR INVESTMENT POOL. THE FUND IS INVESTED BY GNOF WITH AN ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THESE ENDOWMENT ASSETS OVER THE LONG-TERM. ANNUAL DISTRIBUTIONS OF INCOME FROM THE GNOF INVESTMENT POOL FUND, AS DETERMINED BY THE BOARD OF TRUSTEES OF GNOF ARE PROVIDED TO BGR. BGR'S BOARD OF DIRECTORS THEN DECIDES TO EITHER USE THE FUNDS FOR OPERATIONS OF BGR OR TO INVEST IN ONE OF ITS ENDOWMENT FUNDS. BGR CREATED THE BGR ENDOWMENT FUND IN 2007. THE INVESTMENT OBJECTIVE OF THE BGR ENDOWMENT FUND IS TO EMPHASIZE TOTAL RETURN. SPECIFICALLY, THE PRIMARY OBJECTIVE IS TO EMPHASIZE LONG-TERM GROWTH OF PRINCIPAL WHILE AVOIDING EXCESSIVE RISK. THE SECONDARY OBJECTIVE IS TO ACHIEVE RETURNS IN EXCESS OF THE RATE OF INFLATION PLUS SPENDING OVER THE INVESTMENT HORIZON IN ORDER TO PRESERVE THE PURCHASING POWER OF THE FUND'S ASSETS. RISK CONTROL IS AN IMPORTANT ELEMENT IN THE INVESTMENT OF THE FUND ASSETS. IN 2015, A DONOR CREATED THE HOWARD CHAIR. THE INVESTMENT OBJECTIVE OF THE BGR ENDOWMENT FUND IS TO EMPHASIZE TOTAL RETURN. SPECIFICALLY, THE PRIMARY OBJECTIVE IS TO EMPHASIZE LONG-TERM GROWTH OF PRINCIPAL WHILE AVOIDING EXCESSIVE RISK. THE SECONDARY OBJECTIVE IS TO ACHIEVE RETURNS IN EXCESS OF THE RATE OF INFLATION PLUS SPENDING OVER THE INVESTMENT HORIZON IN ORDER TO PRESERVE THE PURCHASING POWER OF THE FUND'S ASSETS. SUCH DISTRIBUTABLE FUNDS SHALL BE USED TO COVER THE EXPENSES OF A SPEAKER AT BGR'S ANNUAL LUNCHEON, HENCEFORTH TO BE RECOGNIZED AS THE JANET HOWARD SPEAKER SERIES IN GOVERNMENTAL RESEARCH. IN 2018, A CREATED THE ZEMURRAY CHAIR ENDOWMENT FUND WITH AN INITIAL GIFT OF $2,000,000. DURING 2020, AN ADDITIONAL $1,000,000 WAS CONTRIBUTED TO THE FUND. THE INVESTMENT OBJECTIVES OF THE ZEMURRAY CHAIR ENDOWMENT FUND ARE TO EMPHASIZE TOTAL RETURN. SPECIFICALLY, THE PRIMARY OBJECTIVE IS TO EMPHASIZE LONG-TERM GROWTH OF PRINCIPAL WHILE AVOIDING EXCESSIVE RISK. SHORT-TERM VOLATILITY WILL BE TOLERATED IN AS MUCH AS IT IS CONSISTENT WITH THE VOLATILITY OF COMPARABLE CAPITAL MARKET BENCHMARKS. THE SECONDARY OBJECTIVE IS TO ACHIEVE RETURNS IN EXCESS OF THE RATE OF INFLATION PLUS SPENDING OVER THE INVESTMENT HORIZON IN ORDER TO PRESERVE THE PURCHASING POWER OF THE FUND'S ASSETS. RISK CONTROL IS AN IMPORTANT ELEMENT IN THE INVESTMENT OF THE FUND ASSETS. SUCH DISTRIBUTABLE FUNDS SHALL BE USED TO SUPPORT THE SALARY FOR THE POSITION OF BGR'S PRESIDENT AND CEO, WHICH POSITION SHALL HEREAFTER PERMANENTLY BEAR THE TITLE OF THE SAMUEL ZEMURRAY CHAIR IN RESEARCH LEADERSHIP IN ALL AND EVERY REFERENCE TO IT. PART X, LINE 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA PROVIDE ACCOUNTING AND DISCLOSURE GUIDANCE ABOUT POSITIONS TAKEN BY AN ENTITY IN ITS TAX RETURNS THAT MIGHT BE UNCERTAIN. BGR BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND MANAGEMENT HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. PENALTIES AND INTEREST ASSESSED BY INCOME TAXING AUTHORITIES, IF ANY, WOULD BE INCLUDED IN INCOME TAX EXPENSE. PART XI, LINE 2D - OTHER ADJUSTMENTS: ANNUAL LUNCHEON EXPENSES 99,160. PART XII, LINE 2D - OTHER ADJUSTMENTS: ANNUAL LUNCHEON EXPENSES 99,160. X X X X X X 0 CLIO & ASSOCIATES 614 GRAVIER ST NEW ORLEANS LA 70130 CONSULTS ON SOLICITATION STRATEGIES 0 0 16500 -16500 16500 -16500 ANNUAL LUNCHEON 218702 174337 44365 49194 49967 218702 174337 44365 49194 49967 99161 -54796 X X X 0 0 0 0 0 0 0 0 0 REBECCA MOWBRAY PRESIDENT/CEO 203071 0 0 0 0 0 6092 0 17497 0 226660 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 MERRITT LANE HAS A BUSINESS RELATIONSHIP WITH VANESSA CLAIBORNE MERRITT LANE HAS A BUSINESS RELATIONSHIP WITH ELIZABETH HEFLER MERRITT LANE HAS A BUSINESS RELATIONSHIP WITH LAMAR G. VILLERE LAMAR VILLERE REPORTED CONFIDENTIAL RELATIONSHIPS WITH ONE OR MORE BOARD MEMBER(S) THAT ARE BUSINESS CLIENTS. FORM 990, PART VI, SECTION A, LINE 4 IN FEBRUARY 2024, THE ORGANIZATION AMENDED AND RESTATED ITS BYLAWS. THE BYLAWS WERE AMENDED TO DEFINE MEMBER PRESENCE FOR QUORUM, TO GIVE THE ORGANIZATION'S CHAIR THE POWER TO FILL VACANCIES ON ALL COMMITTEES, A SECTION WAS ADDED UNDER ARTICLE VII ENDOWMENT FUNDS TO CLARIFY DISTRIBUTION RULES FOR THE ZEMURRAY ENDOWMENT, AND AN INDEMNIFICATION ARTICLE WAS ADDED. FORM 990, PART VI, SECTION A, LINE 6 BGR HAS MEMBERS WHO PROVIDE FINANCIAL SUPPORT TO THE ORGANIZATION ALLOWING FOR THE ORGANIZATION TO PRESERVE ITS INDEPENDENCE. CONSISTENT WITH BGR'S BYLAWS, MEMBERS HAVE VOTING PRIVILEGES AT BGR'S ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7A BGR HAS MEMBERS WHO PROVIDE FINANCIAL SUPPORT TO THE ORGANIZATION ALLOWING FOR THE ORGANIZATION TO PRESERVE ITS INDEPENDENCE. CONSISTENT WITH BGR'S BYLAWS, MEMBERS HAVE VOTING PRIVILEGES AT BGR'S ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B UPON COMPLETION OF THE FINAL DRAFT OF FORM 990 BY BGR'S AUDITORS,THE PRESIDENT & CEO, REBECCA MOWBRAY, AND THE FINANCE COMMITTEE REVIEW THE FORM 990. COPIES ARE PROVIDED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C BGR HAS A CONFLICT OF INTEREST POLICY AND AN ETHICS POLICY STATEMENT IT REQUIRES ALL BOARD MEMBERS AND EMPLOYEES TO REVIEW AND ACKNOWLEDGE BY SIGNATURE. THE CONFLICT OF INTEREST POLICY REQUIRES DISCLOSURE OF ANY FINANCIAL INTEREST IN THE SUBJECT MATTER OF BGR'S RESEARCH AND REPORTING OR IN THE OPERATION OF ITS ORGANIZATION. THE ETHICS POLICY STATEMENT REQUIRES RECUSAL FOR REAL OR PERCEIVED CONFLICTS OF INTEREST AND PRESCRIBES THE PROCESS BY WHICH CONFLICTS ARE DISCLOSED, REPORTED, AND ADJUDICATED BY THE APPROPRIATE OFFICER OR STAFF MEMBER. IT ALSO IMPOSES THE DUTY OF CONFIDENTIALITY FOR INTERNAL INFORMATION AND PROHIBITS EMPLOYEE POLITICAL ACTIVITY. BGR IMPLEMENTED THESE POLICIES TO SAFEGUARD THE CREDIBILITY, OBJECTIVITY, INDEPENDENCE AND NONPARTISAN CHARACTERISTICS OF ITS WORK PRODUCT AND TO ENSURE THE HIGHEST LEVELS OF INTEGRITY IN ITS POLICY ANALYSIS AND RECOMMENDATIONS. FORM 990, PART VI, SECTION B, LINE 15 INDEPENDENT MEMBERS OF THE EXECUTIVE COMMITTEE SET THE COMPENSATION OF THE PRESIDENT & CEO BASED ON ADVICE OF THE EXECUTIVE COMMITTEE. THIS ADVICE IS BASED ON COMPARABLE DATA. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION PROVIDES ITS FORM 990 UPON REQUEST AND IT IS ALSO AVAILABLE ON THE BGR WEBSITE, WWW.BGR.ORG, AND ON WWW.GUIDESTAR.ORG. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.