2011-08-10T11:36:16-05:00 2010-12-31 GRANT THORNTON LLP ONE CALIFORNIA STREET SUITE 2300 SAN FRANCISCO CA 94111 990 2010-01-01 237175375 Electric Power Research Institute Inc ELEC 6508552000 3420 Hillview Avenue Palo Alto CA 94304 Christian B Larsen 2011-08-04 true JOE DETRANE 4159863900 2010 2016-02-24 21:20:13Z Michael W Howard 3420 Hillview Avenue Palo Alto CA 94304 388139777 false X www.EPRI.com X 1972 DC See Schedule O 32 32 877 0 28854466 -290500 0 0 347282314 361989545 11369971 2184194 5688741 23572057 364341026 387745796 1617375 1394756 0 0 124030311 129555197 0 0 0 205191180 211064586 330838866 342014539 33502160 45731257 200789501 263415220 207869685 221988497 -7080184 41426723 SEE SCHEDULE O false false 254729854 1394756 363437788 See Schedule O 254729854 true false false true false false false false false false true true false false true false false true false true true true false false false false false false true true true false false false false true false false true false false false false false true true true false false true 611 0 true 877 true true true true BE JA SP UK false false false false false false false false false false false X 32 32 false false false false true true true true true false false true true true true true true true true true true CA X EPRI FINANCE DIVISION 6508552598 3420 HILLVIEW AVENUE Palo Alto CA 94304 Theodore F Craver Jr 1.0 X X 0 0 0 James L Turner 1.0 X X 0 0 0 Richard H Silverman 1.0 X X 0 0 0 Nicholas K Akins 1.0 X X 0 0 0 Thomas A Fanning 1.0 X X 0 0 0 Anthony J Ahern 1.0 X 0 0 0 Gerard M Anderson 1.0 X 0 0 0 Kenneth J Anderson 1.0 X 0 0 0 Jay Apt 1.0 X 2250 0 0 Patrick R Atkins 1.0 X 7250 0 0 Jesse H Ausubel 1.0 X 6500 0 0 Yves Bamberger 1.0 X 0 0 0 Caren Byrd 1.0 X 2300 0 0 David Campbell 1.0 X 0 0 0 Daniel F Cole 1.0 X 0 0 0 Pat K Collawn 1.0 X 0 0 0 Erroll B Davis Jr 1.0 X 0 0 0 Michael H Dworkin 1.0 X 5750 0 0 W Gary Gates 1.0 X 0 0 0 Kimberly S Greene 1.0 X 0 0 0 Michael S Greene 1.0 X 0 0 0 Richard C Kelly 1.0 X 0 0 0 Tom D Kilgore 1.0 X 0 0 0 Gale E Klappa 1.0 X 0 0 0 Gary R Leidich 1.0 X 0 0 0 Stephen J Lennon 1.0 X 0 0 0 Jeffrey J Lyash 1.0 X 0 0 0 Yakout Mansoor 1.0 X 0 0 0 Ernest J Moniz 1.0 X 6500 0 0 Denis P OBrien 1.0 X 0 0 0 Eileen ONeill Odum 1.0 X 0 0 0 Gil C Quiniones 1.0 X 0 0 0 Gary L Rainwater 1.0 X 0 0 0 David Saggau 1.0 X 0 0 0 Mark T Savoff 1.0 X 0 0 0 Charles W Shivery 1.0 X 0 0 0 Thomas A Smith 1.0 X 0 0 0 Thomas R Standish 1.0 X 0 0 0 Ichiro Takekuro 1.0 X 0 0 0 Anthony J Topazi 1.0 X 0 0 0 Stephen J Wright 1.0 X 0 0 0 STEVEN R SPECKER 40.0 X 1693448 0 568217 MICHAEL W HOWARD 40.0 X 1167247 0 460058 HENRY A COURTRIGHT 40.0 X 1125974 0 337512 NORMA G FORMANEK 40.0 X 516750 0 304160 ARSHAD MANSOOR 40.0 X 506465 0 403473 BRYAN J HANNEGAN 40.0 X 435071 0 257852 DENNIS J MURPHY 40.0 X 405314 0 234016 SALVADOR A CASENTE JR 40.0 X 393997 0 206056 ROBERT N CHAPMAN 40.0 X 397634 0 239712 ROSA L YANG 40.0 X 381975 0 212898 STEVEN T YAMAMOTO 40.0 X 367956 0 209850 NEIL M WILMSHURST 40.0 X 341211 0 218424 CAROLYN R SHOCKLEY 40.0 X 279215 0 240572 CHRISTIAN B LARSEN 40.0 X 229089 0 74349 CLARK W GELLINGS 40.0 X 386723 0 179530 DAVID J MODEEN 40.0 X 373364 0 181977 NORRIS S HIROTA 40.0 X 350177 0 179882 RICHARD G RICHELS 40.0 X 332191 0 173635 GEORGE R OFFEN 40.0 X 326425 0 156602 10040776 0 4838775 422 false true false Southern Company Services Inc 270 Peachtree Street ATLANTA GA 30308 Contract R&D 6239636 American Electric Power Service Cor 1 Riverside Plaza 20th Floor COLUMBUS OH 43215 Contract R&D 5604000 EDF Electricite de France 1 AVENUE DU GENERAL DE GAULLE CLAMART CEDEX 0 FR Contract R&D 5097945 Eaton Corporation 13100 E Michigan Avenue GALESBURG MI 49053 Contract R&D 3964452 Areva NP SAS 1 PLACE JEAN MILLIER PARIS LA DEFENSE CEDEX 0 FR Contract R&D 3220804 363 0 MEMBERSHIP FEE REVENUE 541900 179749830 170692293 9057537 SUPPLEMENTAL FUNDING 541900 173911714 162442786 11468928 BILLABLE SERVICES 541900 8328001 8328001 361989545 1109349 1109349 0 20551249 20551249 1963585 391020 1572565 1572565 1572565 1077806 2961 1077806 -2961 1074845 1074845 0 0 0 SALE OF R&D REPORTS 900099 920398 920398 OTHER INCOME 900099 527845 527845 1448243 387745796 334583322 28854466 24308008 1349533 1349533 28000 28000 17223 17223 0 8759934 8759934 0 84972808 45536148 39436660 10162048 5753475 4408573 19628245 11112979 8515266 6032162 3415246 2616916 0 572103 62301 509802 257860 257860 10262 10262 0 210349 210349 630378 20 630358 0 12421331 11468565 952766 3164162 3164162 0 3632637 3242562 390075 11800076 8470489 3329587 0 5988175 5252570 735605 0 3754943 166853 3588090 7327807 6540941 786866 500992 500992 R&D EXPENSES 150113076 150113076 CONSULTING 2679993 2679993 TELEPHONE 2424002 2424002 PRINTING & PUBLICATIONS 1433454 1108452 325002 EQUIPMENT RENTAL & MAINTENANCE 1254608 1254608 2888378 1091421 1796957 342014539 254729854 87284685 0 52330322 25353430 71668131 108673620 26937189 45372259 7196639 11448282 101004630 64631607 37861229 36373023 2945000 34405250 1850991 1789356 200789501 263415220 67909716 64612212 126438671 139715882 13521298 17660403 207869685 221988497 X -7080184 41426723 -7080184 41426723 200789501 263415220 X 45731257 2775650 X false true true X true true X 256487346 286869604 307352469 347282315 361989545 1559981279 256487346 286869604 307352469 347282315 361989545 1559981279 82555414 95552709 118015256 115756636 115845139 527725154 82555414 95552709 118015256 115756636 115845139 527725154 1032256125 20501699 11035502 7899095 6502035 23624183 69562514 20501699 11035502 7899095 6502035 23624183 69562514 2921295 1448974 2085030 1276315 1448243 9179857 279910340 299354080 317336594 355060665 387061971 1638723650 0.62992 0.62871 0.04245 0.04234 X Schedule A, Part III: Line 2: Beginning with the redesigned 2008 Form 990, EPRI is reporting its membership dues as gross receipts. These payments are made in connection with the performance of tax exempt scientific research in the public interest, which by definition also incidentally benefits EPRI members who may in certain circumstances have a direct and immediate benefit from such research. The research results may also in certain circumstances have a more direct benefit to the EPRI members than to the general public contemplated within Treasury Regulation Section 1.509(a)-3(g)(2). Line 12: Other income includes income from previously published scientific research reports available for sale to the general public and income from related scientific research activities conducted by EPRI in the public interest. 10262 10262 254719592 254729854 1000000 250000 1000000 1000000 1000000 1000000 4000000 6000000 70757 79694 44668 10262 205381 250000 250000 250000 250000 1000000 1500000 2293299 2293299 53758972 35188720 18570252 4452594 3138671 1313923 22316768 13993838 8322930 18182997 12310378 5872619 36373023 LONG TERM INVESTMENTS 34405250 F 34405250 0 ACCRUED POST RETIREMENT BENEFITS 11376403 DEPOSIT ACCOUNTS 6192346 RETENTION PAYABLE - LONG TERM 91654 17660403 FIN48 Disclosure Schedule D, Part X, Line 2: EPRI adopted FIN48 in 2009. The adoption in 2009 did not have a material impact on the EPRI financial statements. There was no change in 2010. As a result, the financial statements do not have a FIN48 liability recorded and a footnote for FIN48 was not required. true East Asia and the Pacific 0 0 Program Services R&D Project 2370284 Europe (Including Iceland and Greenland) 0 1 Program Services R&D Project 15127107 Middle East and North Africa 0 0 Program Services R&D Project 96116 North America 0 0 Program Services R&D Project 2717744 Russia and the Newly Independent States 0 0 Program Services R&D Project 136848 South America 0 0 Program Services R&D Project 42709 Sub-Saharan Africa 0 0 Program Services R&D Project 20387 East Asia and the Pacific 0 0 Unrelated Trade or Business 394893 Europe (Including Iceland and Greenland) 0 0 Unrelated Trade or Business 1748450 North America 0 0 Unrelated Trade or Business 66445 South America 0 0 Unrelated Trade or Business 2063 Central America and the Caribbean 0 0 Program Services R&D Project 638 0 1 0 1 22723684 22723684 Europe/Iceland/Greenland Sponsorship 12223 EFT or Wire 1 0 false false false false false false Monitoring the Use of Grant Funds Outside of the United States Schedule F, Part I, Line 2: EPRI occasionally makes grants to other institutions when doing so is consistent with and furthers EPRI's charitable purpose. Grants are made only to entities which are well known to EPRI and after appropriate due diligence. The permitted uses of the granted funds are spelled out to the grantee and EPRI typically receives reports, technical papers, conference and similar materials demonstrating the appropriate use of the granted funds. true Battelle Energy Alliance LLC 2525 N Fremont Ave Idaho Falls ID 83415 680588324 501(c)(3) 25000 Contribution Bioelectromagnetics Society 2412 Cobblestone Way Frederick MD 21702 510229774 501(c)(3) 10000 Contribution Carnegie Mellon University 5000 Forbes Avenue Pittsburgh PA 15213 250969449 501(c)(3) 102811 Contribution Michigan Tech Fund 1400 Townsend Drive Houghton MI 49931 381554664 501(c)(3) 15000 Contribution Midwest Research Institute 425 Volker Blvd Kansas City MO 64113 440545878 501(c)(3) 100000 Contribution Resources for the Future 1616 P Street NW Washington DC 20036 530220900 501(c)(3) 25000 Contribution Stanford University Terman Eng Ctr Stanford CA 94305 941156365 501(c)(3) 310000 Contribution University of North Carolina 9201 Univ City Blvd Charlotte NC 28223 566001393 501(c)(3) 8500 Contribution University of California San Diego 9500 Gilman Drive La Jolla CA 92093 952872494 501(c)(3) 450000 Contribution University of Kentucky Research Fndn 301 Peterson Svce Bldg Lexington KY 40506 616033693 501(c)(3) 150000 Contribution University of Illinois at Urbana Champaign 1901 South First Street Champaign IL 61820 376000511 501(c)(3) 5536 Contribution University of Missouri Kansas City 1011 East 51st Street Kansas City MO 64110 436003859 115 12850 Contribution Universtiy of Oklahoma Foundation Inc 100 Timberdell Road Norman OK 73019 736091755 501(c)(3) 22000 Contribution University of Tennessee 118 Perkins Hall Knoxville TN 37996 626001636 115 25000 Contribution USNC CIGRE 238 Wisenbaker Cntr College Station TX 77843 136140113 501(c)(3) 8000 Contribution Vermont Law School 164 Chelsea Street Royalton VT 05068 237251952 501(c)(3) 25000 Contribution 16 0 Honorarium for speaking on Natural Gas Shales 1 6000 Honorarium for training at SSR Conference 3 6000 Honorarium for speaking at GCC Seminar 4 6000 Honorarium for speaking at Air Quality Seminar 6 9000 Honorarium for speaking at Smart World Wrkshp 1 1000 Monitoring the Use of Grant Funds in the United States Schedule I, Part I, Line 2: EPRI occasionally makes grants to other institutions when doing so is consistent with and furthers EPRI's charitable purpose. Grants are made only to entities which are well known to EPRI and after appropriate due diligence. The permitted uses of the granted funds are spelled out to the grantee and EPRI typically receives reports, technical papers, conference and similar materials demonstrating the appropriate use of the granted funds. X X X true true X X X X X false true false false false false false true false STEVEN R SPECKER 375162 0 1211165 0 107121 0 566000 0 2217 0 2261665 0 711165 0 MICHAEL W HOWARD 360623 0 766872 0 39752 0 441000 0 19058 0 1627305 0 620872 0 HENRY A COURTRIGHT 321486 0 766872 0 37616 0 321250 0 16262 0 1463486 0 620872 0 NORMA G FORMANEK 276166 0 229189 0 11395 0 283841 0 20319 0 820910 0 229189 0 ARSHAD MANSOOR 262313 0 220276 0 23876 0 390372 0 13101 0 909938 0 218776 0 BRYAN J HANNEGAN 248565 0 169884 0 16622 0 239581 0 18271 0 692923 0 169884 0 DENNIS J MURPHY 219376 0 171299 0 14639 0 216698 0 17318 0 639330 0 171299 0 SALVADOR A CASENTE JR 215774 0 162918 0 15305 0 205273 0 783 0 600053 0 162918 0 ROBERT N CHAPMAN 216166 0 168374 0 13094 0 216488 0 23224 0 637346 0 168374 0 ROSA L YANG 216640 0 149498 0 15837 0 193679 0 19219 0 594873 0 149498 0 STEVEN T YAMAMOTO 202254 0 151965 0 13737 0 202778 0 7072 0 577806 0 151965 0 NEIL M WILMSHURST 236289 0 104296 0 626 0 205310 0 13114 0 559635 0 0 0 CAROLYN R SHOCKLEY 247802 0 0 0 31413 0 223275 0 17297 0 519787 0 0 0 CHRISTIAN B LARSEN 75504 0 150000 0 3585 0 71020 0 3329 0 303438 0 0 0 CLARK W GELLINGS 227126 0 154934 0 4663 0 166431 0 13099 0 566253 0 154934 0 DAVID J MODEEN 242358 0 130000 0 1006 0 175250 0 6727 0 555341 0 130000 0 NORRIS S HIROTA 208833 0 139750 0 1594 0 159275 0 20607 0 530059 0 139750 0 RICHARD G RICHELS 203593 0 127300 0 1298 0 157269 0 16366 0 505826 0 127300 0 GEORGE R OFFEN 207436 0 114898 0 4091 0 143537 0 13065 0 483027 0 114398 0 Questions Regarding Compensation Schedule J, Line 1a: First Class Travel: EPRI's CEO and senior vice presidents are required to travel frequently and often for extended periods away from home. To lessen the burden and increase productivity first class travel is allowed and pre-approved for EPRI's CEO and senior vice presidents during periods when the individual is subjected to a heavy travel schedule and extended flight duration. Travel for Companions: EPRI recognizes exceptional employee achievement through an annual award program. Award winners may be reimbursed for companion travel for one guest to attend the annual award ceremony. The travel reimbursement is reported on the employees' Form W-2 as taxable income as required and reported on Schedule J, Part II, Column B, Part iii. Gross-Up Payments: In addition, EPRI provides a gross up related to the taxes payable on the additional taxable income reported for the reimbursement of companion travel to attend the annual award ceremony. The following officers received payments for reimbursement of companion travel in 2010. Steven R Specker $ 611 Michael W Howard $ 15 Henry A Courtright $ 451 Arshad Mansoor $ 267 Clark Gellings $ 668 Schedule J, Line 4b: EPRI provides a retirement contribution for its employees based on their compensation. This retirement contribution is usually in the form of an employer contribution to its retirement plans. However, if the calculated retirement contribution exceeds the retirement plan employer contribution limit for the year, the amount of the retirement contribution in excess of the limit is reported on the employees' Form W-2 as taxable income as required and reported on Schedule J, Part II, Column B, Part iii. The following officers received payments from a supplemental nonqualified retirement plan in 2010. The amount is included in compensation reported on Form 990, Part VII, Section A. Steven R Specker $ 67,747 Michael W Howard $ 22,454 Henry A Courtright $ 18,462 Norma G Formanek $ 10,194 Arshad Mansoor $ 8,436 Bryan J Hannegan $ 1,301 Schedule J, Line 7: Officers, as well as employees, are eligible for incentive awards based on EPRI's results against Corporate Goals and each individual's performance and contribution toward achieving those goals. Incentive awards are strongly tied to both corporate and individual performance. Incentive awards are determined based as a percentage of base salary and are considered in the determination by EPRI of a total reasonable compensation package. Officers, Directors, Trustees, Key Employees, and Highest Comp. Employees Schedule J, Part II: As required by the Form 990 instructions Column B(ii) includes the prior year at-risk incentive accrued benefit actually paid in 2010. This amount is also reported in Column F. In addition, the current year accrual of an at-risk incentive benefit is included in Column C. Dr Jay Apt Board Director 102811 Michael Dworkin Board Director 25000 See Schedule L Part V for further detailed information on the transac below The following are payments t EPRI American Electric Power Board Director 326428 Funding for services false Edison International Board Director 340000 Funding for services false Electricite de France Board Director 53000 Funding for services false Energy Future Holdings Corporation Board Director 66760 Funding for services false Entergy Corporation Board Director 348782 Funding for services false ESKOM Board Director 984282 Funding for services false Exelon Corporation Board Director 262320 Funding for services false First Energy Corporation Board Director 219492 Funding for services false New York Power Authority Board Director 1586928 Funding for services false Northeast Utilities Board Director 10000 Funding for services false PNM Resources Inc Board Director 123281 Funding for services false Progress Energy Board Director 111753 Funding for services false Salt River Project Board Director 123314 Funding for services false Southern Company Board Director 553727 Funding for services false Tennessee Valley Authority Board Director 1309808 Funding for services false Tri-State Generation Transmission Board Director 109687 Funding for services false See Schedule L Part V for further detailed information on the transac below The following are payments b EPRI American Electric Power Board Director 5604000 Pymt for Public Interest R&D false Carnegie Mellon University Board Director 245115 Pymt for Public Interest R&D false DTE Energy Board Director 131868 Pymt for Public Interest R&D false Duke Energy Corporation Board Director 357631 Pymt for Public Interest R&D false Edison International Board Director 73776 Pymt for Public Interest R&D false Electricite de France Board Director 5097945 Pymt for Public Interest R&D false Energy Future Holdings Corporation Board Director 262780 Pymt for Public Interest R&D false Entergy Corporation Board Director 142895 Pymt for Public Interest R&D false Exelon Corporation Board Director 139375 Pymt for Public Interest R&D false First Energy Corporation Board Director 413142 Pymt for Public Interest R&D false Massachusetts Institute of Technolo Board Director 1185674 Pymt for Public Interest R&D false Northeast Utilities Board Director 129051 Pymt for Public Interest R&D false Progress Energy Board Director 15480 Pymt for Public Interest R&D false Southern Company Board Director 6239960 Pymt for Public Interest R&D false Tennessee Valley Authority Board Director 336248 Pymt for Public Interest R&D false Grants or Assistance Benefitting Interested Persons Schedule L, Part III In 2010, EPRI contributed $102,811 to Carnegie Mellon University to support the Carnegie Mellon Electricity Industry Center. This grant may have indirectly benefitted Dr. Jay Apt who is a faculty member of the University. In addition, EPRI contributed $25,000 to Vermont Law School to support the Vermont Law School Institute for Energy and the Environment. This grant may have indirectly benefitted Mr. Michael Dworkin who is a faculty member of the school. EPRI is filing a protective disclosure of these amounts in Schedule L, Part III. Business Transactions Involving Interested Persons Schedule L, Part IV EPRI received payment from the organizations listed in Schedule L, Part IV to conduct services work associated with unrelated business income (UBI). An individual that served as a current or former officer, director, trustee or key employee listed in EPRI's Form 990, Part VII, Section A may have served in a similar position for the listed organizations. All of the listed transactions were on an arms-length basis. EPRI made payment to the organizations listed in Schedule L, Part IV to conduct public interest and supplemental research. An individual that served as a current or former officer, director, trustee or key employee listed in EPRI's Form 990, Part VII, Section A may have served in a similar position for the listed organizations. All of the listed transactions were on an arms-length basis. Organization's Mission and Most Important Activities Form 990, Part I, Line 1 and Part III, Line 1: EPRI conducts research and development relating to generation, delivery and use of electricity for the benefit of the public. An independent, nonprofit organization, EPRI brings together its scientists and engineers as well as experts from academia and industry to help address challenges in electricity, including reliability, efficiency, health, safety and the environment. EPRI also provides technology, policy and economic analyses to drive long-range research and development planning, and supports research in emerging technologies. EPRI's members represent more than 90% of the electricity generated and delivered in the United States, and international participation extends to 40 countries. EPRI's principal offices and laboratories are located in Palo Alto, Calif.; Charlotte, N.C; Knoxville, Tenn.; and Lenox, Mass. Program Service Activity Form 990, Part III, Line 4a: EPRI's mission is to conduct research & development through science and technology with a view of providing benefits to its member's customers and the U.S. public. To accomplish this objective, EPRI develops and manages research and development programs for improving energy generation, delivery and usage. Program service expenses are direct charges to the research programs. Certain indirect expenses are included in the management and general expense category, as EPRI does not separate these expenses for financial accounting purposes. Governance, Management, and Disclosure Form 990, Part VI Line 6: EPRI has three classes of members, namely: (a) Class I (1) Any person, firm, agency or corporation owned by the federal government, or by an agency, authority or instrumentality of the federal government, which is engaged to a substantial degree in the production, transmission or distribution of electric power for public use within the United States; (2) Any cooperative association or cooperative corporation which is engaged to a substantial degree in the production, transmission or distribution of electric power for public use within the United States; (3) Any nonfederal governmental or other public agency, authority or instrumentality, or any non-profit corporation, association or other non-profit organization operating pursuant to governmental oversight or regulation, which is engaged to a substantial degree in the production, transmission or distribution of electric power for public use within the United States; (4) Any corporation, association or other organization operating pursuant to governmental oversight or regulation, which is engaged to a substantial degree in operating, maintaining or assuring reliability of systems for the transmission of electric power for public uses within the United States and Canada; or (5) Any governmental or other public agency, authority or instrumentality within the United States which is engaged to a substantial degree in directly funding research and development related to the production, transmission, distribution, sale, and utilization of electric power, including but not limited to, energy efficiency, renewables, and environmental research. (b) Class II - Any investor-owned person, firm or corporation which is engaged to a substantial degree in the production, transmission or distribution of electric power for public use within the United States, or any person controlling such person, firm or corporation; (c) Class III (1) Any non-United States government agency or person, firm, corporation or other entity regulated as a utility, which is engaged to a substantial degree in the production, transmission or distribution of electric power for public use outside the United States; or (2) Any person, firm, corporation, or other entity which is engaged to a substantial degree, whether inside or outside the United States, in the production or sale of electric power or provision of energy, engineering or information services significantly related to production, transmission, distribution, sale, or utilization of electric power and which is not regulated as a public utility, or any person controlling such person, firm or corporation. Line 7a: Class I members may elect 7 members of the Board. Class II members may elect 15 members of the Board. Class III members may elect 3 members of the Board. Line 7b: Members have the power to amend the articles of incorporation and may have other powers conferred by the Nonprofit Corporation Code of the District of Columbia. Line 11a: An external tax firm and EPRI staff work together to gather the required tax information necessary to complete the tax return. The tax firm prepares an initial draft return and reviews the initial draft return with the finance and legal management team; items are discussed and reviewed. Recommended changes are reflected in the return and a draft tax return is prepared. The draft tax return is presented to the Audit Committee for their review and a copy is made available to the Board of Directors. The audit committee may question EPRI management and the external tax firm or ask for clarification on any item on the return. After the Committee has reviewed the tax return, the return is filed with the appropriate governing tax authorities. Line 12c: EPRI requires all employees to complete an annual statement disclosing any conflicts of interest and they have a requirement to update the disclosure on an ongoing basis. Line 15a and 15b: Officers' compensation decisions are determined by the Compensation and Benefits Committee of EPRI's Board of Directors, with the exception of determination of compensation levels for the CEO and new officers, which are usually determined by the Executive Committee of the Board of Directors. The Committees obtain and act in reliance upon appropriate comparability and benchmarking data for the officer positions from a nationally recognized independent source to support determinations of fair market value for the services rendered. The Committees vote on officer compensation at their meetings and documents the approval in the minutes. Line 16b: As defined by the Form 990 instructions, a joint venture or similar arrangement (or a "venture or arrangement") means any joint ownership or contractual arrangement through which there is an agreement to jointly undertake a specific business enterprise, investment, or exempt-purpose activity without regard to (1) whether the organization controls the venture or arrangement, (2) the legal structure of the venture or arrangement. EPRI performs services work and other unrelated business activities and reports that work as unrelated business income for appropriate tax treatment. Particular care is taken in structuring business arrangements such as commercialization transactions, strategic alliances, service centers, and other similar arrangements, including obtaining advice early in the process, in order to protect EPRI's tax-exempt status and minimize liability. Line 19: EPRI makes its governing documents, conflict of interest policy, and audited financial statements for the past 3 years available to the public through its own website. Reconciliation of Net Assets Form 990, Part XI Line 5: The other change in net assets or fund balance is an unrealized gain of 2,775,650. ELECTRICITY INNOVATION INSTITUTE 3420 Hillview Avenue Palo Alto CA 94304 770562327 DORMANT CA 501(C)(3) 9 NA EPRI Solutions Inc 942 Corridor Park Knoville TN 37932 770449454 R&D Applic DE NA C Corp -15698 1929518 1.00000 EPRI International Inc 3420 Hillview Avenue Palo Alto CA 94304 522357247 Intl Sales DE NA C Corp 35812 5468465 1.00000 false false false false false false false false false false true true true true false false false false EPRI International Inc l 3725561 EPRI International Inc k 331353