University at Albany Bioscience Development Corporation

“The corporation's sole member is the university at albany foundation. The member shall make possible the orderly and sound existence of the corporation, and shall establish, and amend as necessary, the by-laws of the corporation. The member shall form the board of directors of the corporation, who shall direct the management and operation of the corporation.”

“The board shall be composed as follows: 4 directors shall be, ex officio, the president of the university at albany, or their designee, the president of the university at albany foundation (the foundation), the treasurer of the foundation, and the executive director of the foundation; 3 directors appointed by the member(s); 2 directors from the public at large who shall be elected only in the fiscal years ending in an even number by a majority vote of the board of directors; and 2 directors from the public at large who shall be elected only in the fiscal years ending in an odd number by a majority vote of the board of directors.”

“Management provides a draft of form 990 to the university at albany foundation audit committee for review prior to filing. The audit committee meets to comment on form 990 and any revisions will be discussed at that time. A complete copy of the organization's final form 990 (including all required schedules, as ultimately filed with the irs) was provided to each voting member of the university at albany bioscience development corporation's board before its filing with the irs.”

“All new directors, officers or employees of the corporation shall be advised of the conflict of interest policy and asked to complete a disclosure form at the outset of their tenure, and on an annual basis all interested parties shall be asked to complete and submit a disclosure form to the executive director. In the event an interested party believes a possible conflict of interest to be present, full disclosure of the nature of the conflict shall be made on that questionnaire. When circumstances arise that lead to a previously undisclosed conflict, full disclosure of said conflict should be made to the executive director at the earliest opportunity. In general, the presence of a real or potential conflict of interest is not cause for termination of an interested party's relationship with the corporation. The corporation's objective is to receive full disclosure of any conflict and to ensure that any action or decision be made by others acting solely with the corporation's interest in mind. Thus, any interested party confronted by such a conflict should refrain from acting on behalf of the corporation in the contract or transaction to which it pertains and should refer the matter to others in authority. In the case of any director who would be participating in board action on a matter to which a conflict of interest might apply, said director shall disclose the conflict to the board and shall refrain from voting or using personal influence on the matter. The minutes of the meeting shall record that disclosure and abstention from voting were made. A director's conflict will be without consequence to the board's action if, first, there is full disclosure of the conflict, and second, a disinterested majority of directors approves, ratifies or takes the subject action.”

“The corporation makes organizational documents, conflict of interest policy, and financial statements available to the public upon request.”

“The purposes of the corporation are to acquire real property and hold title to such property for the purpose of creating a commercial life science, research, and technology cluster in an environment in which new and technologically innovative businesses can develop and research can be translated into commercially viable high technology. The lawful public or quasi-public objective which each of the foregoing purposes will achieve shall be to advance the educational and research mission of the state university of new york and the state university of new york at albany by acquiring and holding title to facilities in which science research and scholarly programs for the enhancement of faculty, visiting scholars, students and staff shall be located; and which scientific research facilities shall enhance the ability of the state university of new york and the state university of new york at albany to attract public and private funds to further research and scholarly studies.”

“Building services contract 1,907,826 0 0”