Research and Public Policy : Social and Public Policy Research
Employment Policies Institute Foundation
Focused on Research of Labor and Healthcare Policies that Affect Employment Growth
See Details About This CN Advisory
During our analysis of Employment Policies Institute Foundation’s FYE 12/2011 Form 990, the document revealed the following:
More than half of the Employment Policies Institute Foundation's functional expenses were paid to its CEO Richard Berman's for-profit management company, Berman and Company. The document revealed that out of total expenses of $2.10 million, $1.17 million were paid to Berman and Company for "staff[ing] and operat[ing] the day-to-day activities" of the charity. (See Page 8 Part VII, Page 10 Part IX, and Schedule L)
During our analysis of Employment Policies Institute Foundation's FYE 12/2012 and FYE 12/2013 Forms 990, the documents revealed the following:
During our analysis of Employment Policies Institute Foundation's FYE 12/2014 Form 990, the documents revealed the following:
Employment Policies Institute Foundation continued to contract with CEO Richard Berman's management company, Berman and Company. (See the 2014 990, Page 8.)
We find such practices atypical when compared to how other charities operate, as well as a departure from how has reported its finances in the past. We have reached out to Employment Policies Institute Foundation for further clarification, but have not received an adequate explanation and have thus issued this Moderate Concern CN Advisory.
The Employment Policy Institute Foundation has requested that Charity Navigator also disclose that its arrangement with the management firm is reviewed and approved annually by its independent officers and directors in a process that complies with the organization's conflict of interests policy, and its financial statements are audited each year by an independent CPA. Accordingly, please see relevant pages from the organization's 2011 Form 990 for more information: 2011 Page 6, 2011 Schedule O for the former, and 2011 Page 3 for the latter.
The nature of the atypical financial reporting issues identified are such that Charity Navigator has issued this CN Advisory to provide donors with information that they may find useful when making their giving decisions. Charity Navigator is not responsible for the nature or content of the information presented through external sources and websites. For more information on how or when we decide to publish a CN Advisory, please review our methodology.