National Regenerative Medicine Foundation

“The restated bylaws of regenmed development organization call for a board of directors of not less than 5 nor more than 9. One director is designated as the principal investigator and is specifically named in the bylaws as dr. Atala, who serves until his resignation, death or removal. Four directors are to be appointed by wake forest university health sciences (wfuhs), or its ceo. Wfuhs is a tax exempt educational organization exempt under irc section 501(c)(3). Up to four directors ("regenmed directors") are to be appointed by the corporation's board, shall be working in the regenerative medicine field, but shall not be employed by wfuhs or be a board member of wfuhs or a wfuhs affiliate organization. As of the end of its fiscal year, the board consisted of the designated principal investigator and the four wfuhs directors.”

“The filing organization's board of directors receives a copy of the form 990 with sufficient time to permit review, comment, and questions prior to its filing. If modifications are required following such review and comment, the revised form 990 is redistributed prior to its filing with the irs, along with a report noting the modifications.”

“The organization requires its officers and directors to disclose conflicts of interest annually, and as they arise. Any items disclosed are reviewed and managed in accordance with the organization's policy on conflicts of interest.”

“The organization pays no compensation to officers or directors; as the organization has no employees, it does not pay any compensation to any key employees. All compensation paid to officers and directors was paid by related organizations. The related organizations' executive committee or compensation committee of its board of directors or board of trustees, respectively, or the executive committee of the wake forest university baptist medical center board (through authority delegated to it by wake forest university health sciences - the parent organization of the filing organization) is responsible for reviewing and approving most officers' compensation. The committee utilizes independent compensation consultants, compensation surveys, and studies to determine the appropriateness of each such officer's compensation.”

“The organization's articles of incorporation are available to the public on request and are available on the website of the north carolina secretary of state. The organization's bylaws are not published, but provisions from the bylaws are included as necessary in the organization's policies, and are attached to the form 1023 filed for the organization with the irs, which is publicly available. The conflict of interest policy and financial statements are available to the public on request.”

“J. Reid morgan filing org 0.1 related org 33.9 unrelated org 6.0 terry g. Williams filing org 0.5 related org 4.0 unrelated org 35.5 julie m. Watson filing org 0.5 related org 19.5 anthony atala, m.d. Filing org 0.5 related org 39.5 terry l. Hales, jr. Filing org 0.5 related org 39.5 north carolina baptist hospital ("ncbh") and wake forest university baptist medical center ("wfubmc") are unrelated organizations to the filing organization. Pursuant to the terms of the "medical center integration agreement" (an agreement entered into in 2010 among four parties: wake forest university, wake forest university health sciences (both related organizations of the filing organization), wake forest university baptist medical center and north carolina baptist hospital (both unrelated to the filing organization), under which agreement the operation of wfuhs and ncbh, and all of the respective subsidiaries of each, was delegated to wfubmc), the corporate officers of wfubmc generally serve also as the corporate officers of wfuhs and ncbh. Thus, certain officers of the filing organization also devote hours to the related organizations, as well as to the unrelated organizations (wfubmc and ncbh), as shown in the breakdown of hours above.”