Bay Area Bioscience Association

“The taxpayer's internal accountant prepares the tax organizer, which is reviewed by the ceo and then forwarded to the taxpayer's tax accountants for preparation of the form 990. The taxpayer's tax accounting firm forwards the form 990 to baybio for internal review by the ceo. After the first draft internal review by ceo, the taxpayer's tax accounting firm prepares the second draft and sends revised form 990 to the taxpayer's internal accountant. The ceo or director of operation then sends the form 990 to the treasurer of the baybio association for his review. A complete copy of the form 990 is then provided to the board prior to filing. Either the director of operations, ceo, internal accountant or the tax accounting firm addresses the questions from the board.”

“Reviewed conflict of interest policy at annual retreat, and prepared signature page. A conflict is defined when there is a transaction or relationship that may present a conflict between board of directors, officers or key employees to baybio. Each conflict of interest shall be reviewed by disclosing the matter on an annual basis or as there is a potential conflict. The board of directors determines if an actual or potential conflict of interest exists and shall determine an appropriate remedy.”

“Compensation is reviewed by survey and presented to the board for approval.”

“Governing documents, conflict of interest policy, and financial statements are available upon written request. The request may be approved or denied depending on the purpose of the request.”

“Gail maderis and lori lindburg are compensated by bay area bioscience association, but have compensation allocated to bay area bioscience center because they split their work hours between the two entities.”

“Sponsorship revenue is reported as program service revenue in the current year. Form 990, part i, prior year column, lines 8 and 9 are adjusted to reflect this presentation for comparison purposes.”

“Explanation for amended form 990: the organization is filing this amended form 990 for its 2013 tax year to correctly report pension plan accruals and contributions. Items that have changed: - amended form 990, part ix, line 8, column (a): updated pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) to $65,835. - amended form 990, part ix, line 9, column (a): updated other employee benefits to $101,995.”