Neomed Research Corporation

“Northeast ohio medical university has the power to appoint new board members of neomed research corporation.”

“A copy of the form 990 will be distributed to all members of the board for review prior to filing.”

“Each year a copy of the conflict of interest policy is sent to each board member to be reviewed. Each board member must sign a statement which affirms that they have complied with the policy and disclosed all potential conflicts of interest. If it is determined that a conflict of interest exists, that individual must leave the meeting during the discussion of, and the vote on, the issue.”

“Form 990, form 1023, and the governing documents are available upon request.”

“The corporation shall be operated exclusively for the scientific purposes as will, in the absolute and uncontrolled discretion of the board of trustees, most effectively assist and promote the corporation purposes. The purposes for which the corporation is to be formed are exclusively to: a. Obtain scientific information beneficial to the public by jointly sponsoring, conducting, and administering scientific research within neomed; b. Fund scientific research and study conducted by students and faculty at neomed to enhance the quality of life and develop scientific and technological advancements for the benefit of the public; c. Make available for the public use the results and findings of scientific research sponsored or conducted by the corporation and funding and conducting with neomed workshops, seminars, and symposia on scientific developments, techniques, and studies; d. Advance scientific research and facilitating the transfer of technology from the laboratory to public use by, among other activities, making applications for and obtaining patents, patent rights, trademarks, and copyrights for discoveries and inventions by students or faculty at neomed and by licensing such patents, trademarks, and copyrights so that the public ultimately may benefit from such discoveries and inventions; e. Accept grants, equities and other things of value in support of research and intellectual property development; f. Use manage, administer, apply, invest and reinvest the principal and income received by the corporation for the support of research and intellectual property development at neomed; g. Lend, invest, or otherwise apply funds of the corporation in support of any purpose, activity or enterprise that relates to and contributes to, or advances the purpose of the corporation, provided such purpose is consistent with its exempt and favored status under the tax laws and all other substantive law; h. Do whatever is deemed necessary, useful, advisable or conductive, directly or indirectly, to carry out any of the purposes of the corporation, including the exercise of all other authority enjoyed by corporations generally by virtue of the provisions of the ohio non-profit corporation law.”

“The process did not change from prior year.”