Mount Desert Island Biological Laboratory

“Board members Elizabeth R. Myers, Ph.D. and Margaret A. Myers, M.D. share a family relationship.”

“During the period covered by this Form 990, the Organization revised its mission statement to read as follows: "We improve human and environmental health by discovering basic mechanisms of regeneration and aging, translating our discoveries for the benefit of society, and developing the next generation of scientific leaders."”

“The Organization shall have three classes of members: 1. Regular Members 2. Associate Members, and 3. Honorary Members Regular Members shall be scientists with advanced degrees who have worked at the Organization for at least one season or such other persons as the Trustees may elect. Associate Members are individuals who are interested in the aims and purposes of the Organization but are not Regular or Honorary Members. An Honorary Member is an individual who is either a distinguished scientist who has had some association with the Organization or is an individual who has contributed significantly to the welfare of the Organization and who is elected an Honorary Member by the Board of Trustees.”

“Proposed nominations for election to the Board of Governing Trustees may be submitted to the Nominating Committee for research and consideration by any member of the Board of Governing Trustees and by any member of the Organization. Proposed nominations shall be submitted in writing with information required by the Nominating Committee. The Nominating Committee shall present its nominees for election as Governing Trustees in the notice of the annual meeting of Members. No other nominations shall be permitted. Election at the annual meeting shall be by majority vote of the Members of the Organization.”

“The Form 990 is prepared with the assistance of an independent CPA firm. The CPA firm coordinates with key officers and finance personnel of the Organization to prepare and review a draft of the Form 990 prior to its filing with the IRS. This draft of the Form 990 is reviewed by senior management and the chair of the governance committee, and made available for full board review prior to filing.”

“The board of trustees are asked to review the conflict of interest policy and disclose any potential conflicts annually, the organization monitors the conflict of interest issues for scientists at the time of hire as well as for scientists and other key people on NIH grants at key times during individual grant cycles. The chairman of the board has charged the Governance Committee with reviewing the written policy on an annual basis and ensuring that each member of the board reads and signs the policy annually. Should they arise, potential conflicts of interest are addressed by the board. Completion of conflict of interest forms and related matters are a formal agenda item for at least one board meeting annually.”

“The President's conditions for term of service as well as salary and other compensation is determined by the Board of the Trustees. In this process, the Organization uses comparability data from other non-profits in its operating area and in same field of scientific research to determine reasonable and market rate compensation and benefits to be offered to the Organization's officers and key employees.”

“The Organization provides copies of its Form 990 tax returns and audited financial statements on its website at the following address: https://mdibl.org/about/our-location-culture/ quick-facts-resources/ Other documents, such as various governance statements, bylaws, and the Organization's conflict of interest policy, are available upon request.”

“Change in fair value of interest rate swap -160,903.”

“The audit was subject to the review and oversight of the Organization's Executive Director, finance and audit committees, and key financial and business personnel within the Organization. Additionally, the Organization's audited financial statements and Form 990 are subject to review by the Organization's independent Board of Trustees prior to their issuance. The audit process has not changed from the prior year.”