Algae Biomass Organization

“The board did pass amended & restated bylaws this year (on may 18, 2023) in response to the recent passage of the new washington nonprofit corporation act (wnca). This was the first amendment to the bylaws since 2016. Revisions to the bylaws were to bring them into conformity with updates to the statute resulting from the wnca, to better distinguish between board and advisory committees and specify whether existing committees are board committees or advisory committees, to move certain matters regarding committees (composition, mission/purpose, etc.) out of the bylaws and into committee charters, and to better define the roles of officers of the abo.”

“YES”

“Once per year, in accordance with the bylaws and in an effort to fill vacant positions on the board of directors and those positions for those directors who's terms are expiring, the disinterested directors of the abo's board of directors determine whether to either (a) hold and election, whereby the members of the abo elect other members based on candidates submitted by the board, or (b) submit a slate of recommended directors to the membership for ratification by the membership in an "up-or-down" vote. The director recruitment committee recruits, interviews and makes recommendations to the board of candidates for either process and what process should be used in a given year, but the decision on both matters rests with the disinterested board of directors. If the number of candidates that the board is submitting to membership is greater than the number of open seats, the election process is used. The ratification process is used in the number of nominees is equal to or fewer than the number of open positions. The bylaws also contain provisions for the membership to propose write-in candidates as part of the ratification process. The board of directors elects a chairperson and vice-chairperson annually in the first meeting or second meeting following the annual election of ratification. The chairperson and vice-chairperson serve as president and vice president, respectively, during their one-year terms (unpaid). The board of directors approves all employment contracts.”

“The form 990 is prepared by the treasurer and review by the executive director, chairperson of the board, board of directors (for review and commet) and legal counsel.”

“Directors sign written acknowledgement of both the conflict of interest policy and the code of ethics.”

“The hr committee of the board negotiates the compensation package for the executive director. The final compensation package is approved by a majority vote of the board of directors.”

“The board of directors receives documents at board meetings. Members can receive copies of documents upon request to the executive director. The articles of incorporation are publicly available from the secretary of state of washington. The articles and by-laws are available to members on the web site and the general public upon request.”

“Organization's primary purpose: the algae biomass organization ("abo") is organized exclusively as an independent trade association which qualifies as an exempt organization under section 501(c)(6) of the internal revenue code of 1986. The primary purpose of the abo is to improve business conditions in the algal biomass industry. The abo's purposes, as set forth in its articles of incorporation, generally support this primary purpose: a.to promote the development of viable commercial markets for renewable and sustainable commodities derived from algae; b.to serve as a national and international trade association and voice for individuals, corporations and other business entities pursuing commercial applications for algal biomass, including, but not limited to, the use of algal biomass as a feedstock for transportation fuel and electrical generation, animal feed, wastewater rehabilitation, and nutraceuticals. C.to operate and function to: (i) facilitate informed business decisions based on sound science, best practices and the latest technologies; (ii) facilitate communications between businesses and individuals in the algal biomass industry, as well as those businesses, non-profit organizations, research institutions and others supporting the industry; and (iii) otherwise to further advance the introduction of algae commercial and business solutions to the marketplace. D.to act as an information clearinghouse for information related to algae, commercial applications, past and ongoing research, and the algal biomass industry in general. E.to educate the abo's members, policy makers, the media, those involved in other industry segments that will purchase or utilize algal-based products, and the general public regarding the commercialization and use of algal- based products, new technologies, best practices, and how the commercial use of algal biomass in certain applications can improve the environment, foster energy independence and the economy, by providing technical information and through the support and participation in educational opportunities, peer-reviewed articles, reports, studies, speaking engagements and other means and medium. F.to develop, advocate for and promote both business and technical best practices that will facilitate the commercialization of algal-based products. G.to aggregate and formalize advocacy efforts for the improvement of federal, state and local policies that would aid in the commercialization and expanded use of algal-based products. H.to aid, support, and assist by gifts, contributions or otherwise, other corporations, community chests, funds and foundations organized and operated exclusively for charitable, scientific, or educational purposes, no part of the net earnings of which inures to the benefit of any private shareholder or individual, and no substantial part of the activities of which is carrying on propaganda, or otherwise attempting to influence legislation or other tax exempt organizations under section 501(c) of the internal revenue code.”

“A). Algae biomass summit - first in person, live event since 2019. Elected officials, governmental officials, ceos, business executives, scientific leaders, students and researchers from over 10 countries all gathered in madison, wi over the course of three days (oct 8-11, 2023) to share the latest developments in the algae space and plan for the future. Notably we had keynotes from valerie reed, director of doe bioenergy technologies office, charles dimmler, ceo of checkerspot (a leading bio- based algae company) and vitor verdelho, director of european algae biomass association. We also had multiple breakout sessions on various topics to include algae for wastewater treatment, regenerative agriculture, algae for feed, algae for food. We had a robust exhibit hall showcasing algae companies and their technologies from the u.s. And several countries. In additon, we hosted to off-site tours of a new state of the art algae based wastewater treatment facility and an analytical laboratory. B). Member engagement - abo continues to promote ways to increase member engagement, discourse and dialogue. New for 2023, we created two new advisory committees (saf and water and environmental resources). Both committees meet frequently to share informaiton and discuss policy efforts and priorities. We also are working to resurrect our feed and food committee and create a new regenerative agriculture advisory committee. C). Member affinity programs - abo launched an affinity program with eurofins craft laboratories to offer our members discounts on analytical testing services. D). Member communication - abo continues to share/disseminate relevant content to our members through monthly newsletters and through frequent linkenin posts.”

“COMMON EXPENSES”

“Prior year book adjustment 324”