Baim Institute for Clinical

“For the period covered by this filing, the baim institute for clinical research, inc. Had two members, beth israel deaconess medical center (bidmc) and harvard medical faculty physicians at beth israel deaconess medical center, inc. (hmfp). For the same period, harvard medical faculty physicians at beth israel deaconess medical center, inc. (hmfp) served as the sole member of affiliated physicians of harvard medical faculty physicians at beth israel deaconess medical center (aphmfp) as well as several additional entities. Hmfp's purposes and the purpose of its affiliates is to provide extraordinary care to its patients, as well as to provide and promote teaching and research. Hmfp is also the dedicated physician practice of bidmc and an entity integrally related to helping bidmc and other affiliates in the bilh network accomplish their charitable purposes. Also for this same period, beth israel lahey health, inc. (bilh) served as direct or indirect sole member of: beth israel deaconess medical center, inc. (bidmc), mount auburn hospital (mah), new england baptist hospital (nebh), beth israel deaconess hospital milton, inc. (milton), beth israel deaconess hospital needham, inc. (needham), beth israel deaconess hospital plymouth, inc. (plymouth), lahey clinic foundation (lcf) , lahey clinic (lci), lahey clinic hospital d/b/a lahey hospital and medical center (lhmc), winchester hospital (winchester), northeast hospital corporation (northeast), anna jaques hospital (ajh), beth israel lahey health pharmacy, joslin diabetes center and affiliates of these entities. Effective july 1, 2023, bilh also became the sole member of exeter health resources, inc. (ehri) and its affiliates', including exeter hospital. Each of these affiliates may have, in turn, served as member of additional entities within the bilh network of affiliates. Two or more of the persons listed in this form 990 part vii have a business relationship with each other by virtue of sitting on one or more boards of directors/trustees or by serving in an employment relationship with one or more entities within the network of the affiliated organizations noted above. Additional detail is provided in the explanatory notes to this form 990 schedule j.”

“For the period covered by this filing, the baim institute for clinical research, inc. Had two members, beth israel deaconess medical center (bidmc) and harvard medical faculty physicians at beth israel deaconess medical center, inc. (hmfp).”

“Baim has one member organization during the 2023 tax year. The member organization appoints three members of baim's board of trustees.”

“The members of the governing body have the following rights: - set the number of persons who comprise the board of directors; - appoint the directors in its sole discretion and fill any vacancy on the board; - removal of any director or officer, with or without cause, at any time; and, - powers and rights as vested by law.”

“As noted in various disclosures throughout this filing, harvard medical faculty physicians at beth israel deaconess medical center (hmfp) and beth israel deaconess medical center (bidmc) are the members of the baim institute for clinical research, inc. (baim). Beth israel lahey health (bilh) is also the sole member of bidmc. This form 990 is prepared by deloitte tax, llp (deloitte) in conjunction with the baim director of finance. In addition, because of the integral relationship between hmfp, bidmc and the bilh network, baim partners with the bilh tax department on the preparation of the returns. Baim's form 990 is reviewed internally by the baim director of finance, and bilh assistant vice president, taxation and externally by deloitte. Deloitte signs the final returns. A copy of the complete return is then provided to each member of baim's board of directors prior to submission to the internal revenue service.”

“The baim institute for clinical research, inc. (baim) maintains a comprehensive written conflict of interest policy. In addition, as noted in this filing, for the period covered by this filing baim had two members, beth israel deaconess medical center (bidmc) and harvard medical faculty physicians at beth israel deaconess medical center, inc. (hmfp). Beth israel lahey health (bilh) is the sole member of bidmc. Because of this close connection between baim, bidmc and the bilh network of affiliates, baim participates in the bilh network conflict of interest and tax questionnaire process. Pursuant baim's conflict of interest process, all of its officers, directors and key employees as well as certain other individuals are required to complete the annual conflict of interest and tax questionnaire (coi-tq). The coi-tq is designed to require disclosure of any business and family relationships and affiliations maintained by officers, directors, or key employees and their family members and which may result in a real or perceived conflict of interest. The bilh office of integrity and compliance, in conjunction with the bilh tax department, administers the coi-tq process annually and as noted above, baim is included in this process. Bilh integrity and compliance collects and reviews all disclosures and those related to baim or one of its affiliates are shared with the baim board. Disclosures are assigned appropriate follow-up action in accordance with the conflict of interest policy. Positive responses are reviewed for final determination of any potential or actual conflict. Any activity that requires action under the conflict of interest policy is subject to ongoing review. Certain activities which could create conflicts of interest are prohibited while other types of relationships are permitted, subject to compliance with a management plan to require disclosure and recusal, including appropriate documentation in the minutes. In addition as noted above, the annual coi-tq process outlined above is jointly issued by the bilh tax department, to ensure that the questionnaire is distributed to all current and former members of the baim board of directors as well as former officers and key employees. As also noted in this filing, the bilh tax department partners with baim on the tax return preparation process. The coi-tq process is designed to gather the information necessary for baim to completely and accurately complete form 990 schedule l, transactions with interested persons and form 990, part vi, question 2, family and business relationships between officers, directors/trustees and key employees.”

“The 2023 compensation for the president and ceo was based on information provided to the company by outside counsel related to compensation for persons holding similar senior positions in academic research organizations affiliated with major medical centers and medical schools, proportional to the amount of time estimated that the president and ceo was expected to devote to the position. The compensation was also intended to reflect the fact that the president and ceo was recruited to assume his position in the context of major financial losses being incurred by the institute in prior years. The amount of compensation was reviewed by the full board acting as a compensation committee and approved unanimously.”

“The baim institute for clinical research, inc. (baim)'s governing documents, conflict of interest policy and financial statements are available to the general public upon request at the following location: baim institute for clinical research, inc. 930 commonwealth avenue, 3rd floor boston, ma 02215”

“Baim institute for clinical research, inc. Did not receive any contributions of intellectual property and as such, was not required to file form 8899.”

“Baim institute for clinical research, inc. Did not receive any contributions of cars, boats, airplanes or other vehicles and as such, was not required to file form 1098-c.”

“Physician professional fees: program service expenses 678,412. Management and general expenses 0. Fundraising expenses 0. Total expenses 678,412. Consulting: program service expenses 182,290. Management and general expenses 0. Fundraising expenses 0. Total expenses 182,290. Outside services: program service expenses 1,908,553. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,908,553.”

“The board of trustees assumes responsibility for the oversight of the audit of its financial statements and selection of the independent accountant.”