Bedford Research Foundation Inc.

“No committee has the authority to act on behalf of the governing body.”

“Two weeks before filing the 990 form, a copy is given to each board of directors for review and discussion.”

“The organization requires each new key employee, officer or director to review a copy of the Policy on Conflict of Interest and Disclosure of Certain Interests and to acknowledge in writing that he or she has done so. Additionally, each key employee, officer or director, annually complete a disclosure form identifying any relationships, positions or circumstances in which the employee is involved that he or she believes could contribute to a conflict of interest arising.”

“The board of directors establishes the compensation for the Executive Director that are within the range or organizations similar in size and scope of Bedford Research Foundation.”

“Copy of the financial statements and current year changes in the governing documents, conflict of interest policy are attached to the PC Form which is filed in the Secretary of State and available for public inspection. Also, copy of these documents are available at the organizations office at 124 South Road, Bedford, MA 01730, for public inspection upon request.”

“The Organizations President and Treasurer have the responsibility to oversight the Review and the selection of the independent accountant.”

“On March 18, 2020, in response to emergency call from the Secretary of Health and Human Services from Massachusetts, the Organization, as a non-profit independent research organization, determined that at this time of crisis, this time of action was within its mission scope and undertook the COVID testing for the next several months, meeting the needs of its immediate community, as well as many managed health care communities through out the Commonwealth of Massachusetts. The Governors Command Center praised the Organization for its availability to run over 240 test per day and its ability to get results within 24 hours.”

“Market Value appreciation of investments”

“Form 990, Page 2, Part III, Line 4a- Program Service AccomplishmentsLarge national laboratories could not process these tests until October or even November at a reasonable turnaround time for treatment; the Organization clinical laboratory was deemed imperative during this time. The test performed in the Foundation laboratory is a molecular PCR test, which was not available at commercial re-sellers until several months into the pandemic. Once testing was more readily available, organizations began to use other commercial labs offering this testing. There was no attempt to recapture or develop a business product line; the Foundation responded to the demand as defined by its mission until after other testing courses became avaiable in early 2021, when the Foundations scientist resumed their research. The staff worked 10-12-hour days, seven days a week, and were often at the lab until late in the evening due to their dedication to serving the community.”