United States Pharmacopeial Convention

“Members or stockholders the members of the usp convention are representatives from organizations in the us and abroad in the following categories: - health practitioner professional and scientific associations - consumer and other public interest organizations - manufacturer, trade, and affiliated associations - governmental bodies, divisions, or associations - non-government standards-setting and conformity assessment bodies - academic institutions and associations”

“Members or stockholders who may elect and decisions subject to approval the members of usp elect the members of the board of trustees at each five-year meeting of the convention. Up to three additional trustees may be appointed by the board during the five-year cycle. Governance decisions of the organization reserved to members include electing the board of trustees (bot) and the council of experts (coe) as well as amending bylaws and adopting resolutions.”

“See explanation for form 990, part vi, line 7a”

“Form 990 review process the form 990 was reviewed by the chief financial officer and presented to current usp officers as well as the audit committee and approved by the full board prior to filing with the irs.”

“Conflict of interest policy monitoring & enforcement usp's conflict of interest policy is reflected in its bylaws and in its code of ethics. This policy is implemented with respect to our employees and volunteers (members of the board of trustees and the council of experts and expert committees, usp's standard setting bodies) through specific provisions in the employee handbook, the rules of business practice for the board of trustees, and the rules and procedures of the council of experts. All trustees, members of the council of experts and expert committees, and employees in director level or above positions or positions where they work with expert committees or other external stakeholders (including staff who frequently interact with customers and other third parties) are required to submit and keep current a disclosure statement identifying any conflict of interest. For usp's volunteers, a conflict of interest is defined broadly under the bylaws to include a financial interest in a company or any other relationship or interest that could interfere with the individual's ability to exercise independent judgment. Trustees, experts and employees are required to recuse themselves from any matter in which they have a potential conflict, and employees may also be required to divest themselves of interests that present a potential conflict. The identification and resolution of conflicts of interest is handled as follows for usp employees and volunteers: employees: disclosure statements are collected annually by the global compliance and ethics department from employees at the director level and above or who otherwise hold a position in which the employee actively participates in the standards-setting process or a position in which an employee regularly interacts with external stakeholders such as those with external, donor funded, or customer development responsibilities. If an employee discloses that he or she has a financial interest above the specified threshold, the senior director, global compliance reviews the interest with the ceo. If the ceo determines that the interest is an isolated one and one that would be difficult to divest (e.g., a retirement plan from a former employer, or a spouse's employment), the employee is allowed to retain the interest but must recuse himself/herself in any situation where there is a potential conflict. In other cases, such as where there are multiple interests above the threshold, the ceo may ask the employee to divest. Members of the board of trustees: disclosure statements are collected by the secretary, and the board members have an obligation to update them as necessary to keep them current. If a board member has a potential conflict, then in accordance with the bylaws he or she shall notify the board or expert committee prior to deliberation on the matter in question, and such body shall make the final determination as to whether the individual has a conflict of interest in any matter. The minutes of the applicable meeting shall reflect disclosure and resolution of any conflict of interest, including any abstention or recusal, due to conflict of interest. Council of experts and expert committee members: disclosure statements are collected by the executive secretariat, and members have an obligation to update them as necessary to keep them current. The chair of each expert committee, working with staff (scientific liaison/executive secretariat), has responsibility for resolving conflict issues.”

“Process for determining compensation the usp board of trustees approved a total compensation philosophy with the following key provisions: 1. Usp will link base pay and variable pay to performance in such a way that it aligns with usp's strategic planning process and outcome-based metrics, and results in differential rewards. 2. Usp will continually evaluate and realign performance measures to conform to changing strategic goals and other business needs. 3. Usp's total cash compensation program will be designed using a market-driven whole job family structure to deliver above average total compensation, direct and indirect, relative to those offered within various labor markets in which usp competes for talent. The total compensation package will be established, reviewed, and approved in a manner that qualifies for the rebuttable presumption of reasonableness and will be reviewed periodically to ensure that it continues to be aligned with usp's strategic direction and financial limits and continues to be both reasonable and competitive. Under the rules of business practice of the board of trustees is responsible for overseeing the organization's compensation and benefits systems and programs, including: - reviewing and making recommendations to the board regarding the overall compensation philosophy and principles of the organization. - reviewing the structure of the staff compensation program, including salary levels, benefits, and the success sharing plan and the extent to which they are achieving desired purposes. - reviewing and making recommendations to the executive committee and the board regarding employee benefit plans and employee benefits, with the board retaining responsibility for final approval of the insurer or insurers through whose policies the plan benefits are to be funded and the rules and procedures for administration of the plan. - based on input from the ceo reviewing and making recommendations to the board regarding the proposed metrics for organizational performance under the success sharing plan, and the achievement of such metrics.”

“How documents are made available to the public usp makes these documents available to the public to the extent required by law and upon request.”

“Program service accomplishments compendial programs - usp establishes internationally recognized public standards (both documentary standards and the physical reference materials that support the application and use of these documentary standards) to help ensure good quality medicines, dietary supplements, food ingredients, and related products used to maintain health and treat disease. These standards are developed using an open, public process and are approved by independent scientific experts. Prescription and over the counter medicines available in the united states must, by federal law, meet usp's public standards, where such standards exist. Many other countries require the use of high-quality standards such as usp's to ensure the quality of medicines, food ingredients, and related products. Usp disseminates its standards to pharmaceutical manufacturers, pharmacists, food manufacturers, and other users through its usp-nf, food chemicals codex (fcc), other compendia and publications, and official usp reference standard materials. These standards are shared with other countries around the world via their drug regulatory agencies and companies. Increasingly, drug regulatory authorities in other countries are receiving assistance from usp in understanding how they can improve the quality of medicines provided to their citizens by using usp standards. Volunteer experts from those countries are active participants in usp's standards-setting bodies. In addition, usp develops standards that are vital to ensuring and improving patient safety in a variety of settings related to the appropriate labeling, storage, distribution and use of medicines. Health care clinicians as well as patients rely on these standards to help ensure that medicines are delivered and used appropriately.”

“Program service accomplishments allied compendial programs - usp conducts verification programs for pharmaceutical ingredients, and for dietary supplement ingredients and products. These programs involve independent testing and review to verify the identity, strength, quality and purity of ingredients and products for manufacturers who choose to participate. They help to improve the quality of medicines and dietary supplements that are manufactured and then provided to patients and consumers through the global supply chain. Usp conducts educational classes and programs for chemists, scientists, and healthcare practitioners in the united states and around the world. Usp seeks to improve the effective use of its standards that affect best practices in manufacturing and regulation of pharmaceuticals, dietary supplements, and food ingredients.”

“Program service accomplishments non-compendial - usp's global health division contributes to improved global health by ensuring the availability of relevant public standards for the world's most essential medicines, supporting the global manufacturing sector to increase the supply of quality assured medicines, and strengthening national and regional regulatory systems to support improved quality assurance systems, globally. Usp implemented its promoting the quality of medicines (pqm plus) program in cooperation with usaid, to help the quality of medicines in more than 30 countries around the world. Through our advanced training and laboratory facility in ghana, usp supported workforce development in africa to support continued improvement of pharmaceutical quality assurance and quality control efforts in the region. The pqm plus program was early terminated following the issuance of a stop-work order by usaid in fiscal year 2025. Usp maintains four regional networks of official medicines control laboratories (nomcol) which help build regional cooperation and sustainable capacity for ongoing efforts to assure the quality of medicines, globally. Usp standards are made available to regulators in lower and middle income countries at no cost, or at sharply discounted cost. In addition, usp provides direct technical assistance through a number of other global health impact programs. Usp engages in other public health initiatives including serving as the secretariat for a major group of other non-profit organizations that join to coordinate patient safety/medical error efforts. Under federal law, one of usp's health care information initiatives is the development of a drug classification system that medicare prescription drug benefit plans may use to develop their formularies.”

“Professional services: program service expenses 12,718,957. Management and general expenses 6,010,011. Fundraising expenses 87,321. Total expenses 18,816,289. Agency temps: program service expenses 5,218,550. Management and general expenses 1,128,508. Fundraising expenses 2,061. Total expenses 6,349,119. Consulting: program service expenses 1,202,080. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,202,080. Recruitment: program service expenses 31,728. Management and general expenses 433,502. Fundraising expenses 0. Total expenses 465,230. Training: program service expenses 249,665. Management and general expenses 24,517. Fundraising expenses 0. Total expenses 274,182.”

“Intercompany elimination adjustment 1,191,884. Unrealized gain on foreign exchange -693,631. Elimination of intercompany payables 7,818.”