Governance and Ethical Practices
HHMI operates under the overall guidance of a board of trustees who generally are elected for five-year appointments and meet four times per year. HHMI’s trustees are prominent and distinguished individuals who are leaders in one or more of the broad range of disciplines relevant to HHMI’s activities, including academia, government, business, law, and finance. The board carefully considers the diversity of backgrounds among existing members when selecting new members.
Under the trustees’ guidance, HHMI’s senior management is responsible for the Institute’s compliance with applicable laws and regulations and good governance standards for nonprofit organizations. The trustees fulfill their governance responsibilities in part through the work of six standing committees: the Executive, Audit and Compensation, Education, Finance, Nominating and Governance, and Research committees. The trustees and each committee operate pursuant to charters adopted by the trustees.
HHMI retains an independent accounting firm to perform annual audits of its consolidated financial statements in accordance with standards generally accepted in the United States and maintains an internal audit function that regularly reports to the trustees through the Audit and Compensation Committee.