Cibor Inc

“Cibor, inc. Has two members including via christi hospitals wichita, inc. And wichita state university. Via christi hospitals wichita, inc. May elect five members, wichita state university may elect three members, and kansas bioscience authority can elect one member. Article 2 of the bylaws provide the member with the following powers: * define, approve, change or interpret the mission, values, purpose and philosophy of the corporation. * approve the articles of incorporation, the bylaws and any amendments thereto of the corporation. * establish overall debt limit for the corporation and approve occurrence of debt in excess of that limit. * approve the dissolution, merger or consolidation or sale of all or substantially all of the assets of the corporation. * approve any independent auditing firm for the corporation. * review and approve operating and capital budgets and financial reports of the corporation. * review and approve all donations, transfers, leases, encumbrances or other conveyances of real or personal property consistent with provisions of canon law.”

“A copy of form 990 is reviewed by the signing board member prior to filing with the IRS.”

“The conflict of interest policy applies to all directors and officers of cibor, inc. And any other person to whom has been delegated by the board of directors including spouses, children, and any persons residing in the residence of such officials. If any official, or any interested person of such official, has a direct or indirect substantial interest in any business or person with which cibor, inc. Is considering entering into an agreement, that official discloses such substantial interest to cibor, inc. In writing. The agendas for all board of directors meetings are sent to directors prior to the meeting date. Board members who find items on the agenda with which possible conflict of interest exists inform the ceo at the board meeting of their intention to recuse themselves from discussion of that item. When an official, either for himself/herself or for an interested person, discloses a direct or indirect substantial interest in a business that cibor, inc. Is considering entering into an agreement, the board deterines by a majority vote of the disinterested directors whether the agreement is in cibor, inc.'s best interest and for its own benefit and whether the transaction is fair and reasonable to cibor, inc. The board makes its decision as to whether to enter into the agreement in conformity with such determination, subject to the requirements of kansas law. The agreement may not be authorized, approved, or ratified by a single disinterested director.”

“CIBOR, INC.'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, and FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.”

“Description:professional fees total fees:40825”

“Description:salaries reimbursement total fees:255557”