Biomed Sa

“Biomed sa has members who pay annual dues to belong to the organization.”

“The dues-paying members have the right to participate each year in electing the members of the board of directors (the governing body).”

“A copy of the form 990 is distributed via email to all voting board members prior to filing. They are all invited to contact management with any questions or comments.”

“The organization's conflict of interest policy is circulated annually via email to all voting board members who are asked to sign and attest that they have received, read and understand it and agree to comply with it.”

“The initial compensation of the organization's top management official (president) was set by the executive committee officers after a review of similiar positions in the community and in negotiation with the chosen candidate. Annual compensation increases have been awarded as recommended by the officers, approved by the board of directors as a whole, and documented in the meeting minutes. The last compensation review was performed on february 7, 2019.”

“The governing documents, conflict of interest policy, financial statements and form 990 are available upon written request.”

“The organization has a letter of agreement with the greater san antonio chamber of commerce (the chamber) which states that the chamber will administer the biomed sa operating expenses with regard to staff costs. Biomed sa is invoiced for the expenses and once approved, are booked into the biomed sa general ledger and the funds are transferred from the biomed sa account to the chamber for payment. Biomed sa presents the staff costs, but does not issue the form w-2s.”

“Biomed sa po box 5368 san antonio, tx 78201 employer identification number: 30-00104931 for the year ending december 31, 2019 biomed sa is making the de minimis safe harbor election under reg. Sec. 1.263(a)-1(f).”

“During the year ended december 31, 2016, the corporation began receiving donated office space from southwest research institute. The chair of the corporation also serves as an officer of southwest research institute. The assessed value of this donated office space was $12,000 and $12,000 for the years ended december 31, 2019 and 2018, respectively.”

“The audit committee is responsible for the oversight responsibilities for the financial reporting process. The committee has the authority to appoint, compensate and oversee the work of any certified public accounting firm employed by biomed sa.”

“The organization has a letter of agreement with the greater san antonio chamber of commerce (the chamber) which states that the chamber will administer the biomed sa operating expenses with regard to staff costs. Biomed sa is invoiced for the expenses and once approved, are booked into the biomed sa general ledger and the funds are transferred from the biomed sa account to the chamber for payment. Biomed sa presents the staff costs, but does not issue the form w-2s.”