Baltimore Under Ground Science Space Inc

“A copy of the draft 2020 Form 990 and supporting schedules was reviewed by officers and the Finance Committee in the second quarter of 2021, followed by a review and sign-off by the remaining members of the Board of Directors in the same quarter. All parties reviewed the data and had an opportunity to offer refinements to narrative language, as well as the overall presentation. The independent accountant also reviewed these forms. The final 2020 Form 990 and supporting schedules were electronically submitted to Internal Revenue Service (IRS) shortly after approval. The complete 2020 Form 990 package was provided to the full Board of Directors before it was filed with IRS.”

“Semi-annually, all members of the Board of Directors are required to review and sign a conflict-of-interest form disclosing any such issues. Forms are reviewed to ensure compliance, and any areas of concern are thoroughly discussed and remedied at the time, and throughout the year. Board members having a conflict of interest are required to recuse themselves from voting on such matters for which they have a conflict.”

“In contemplation of any new hiring, management consults industry pay scales and associations for guidance, documenting such information and decision-making in contemporaneous minutes of Board of Directors meetings.”

“The organization maintains copies of its governing documents, conflict-of-interest policy and financial statements, which are available for inspection during regular business hours at the organization's office. The organization complies with all requests (written or oral) for copies of these documents.”

“National Health Emergency: On January 30, 2020, the World Health Organization declared the outbreak of a respiratory disease caused by a new coronavirus as a pandemic. First identified in late 2019 and known now as COVID-19, the outbreak has impacted millions of individuals worldwide. In response, and to combat the outbreak, many countries have implemented stringent measures, which have impacted global business operations. In March, the United States declared a national emergency due to the viral pandemic. It, and declarations by various states, and the outbreak of the virus itself, will have far reaching social, economic, and financial impacts on the United States going forward. In 2020, COVID-19 affected Baltimore Under Ground Science Space, Inc.'s (BUGSS) operations as well as that of its suppliers, vendors, donors and other key stakeholders. For some months, BUGSS' one employee was furloughed and, comparing 2020 to 2019, membership revenue was the same but the amount collected for iGEM memberships was reduced by $1,000 and the amount from adult and youth courses jointly was reduced by $4,000. Although the financial statements reflect declines to certain balances and results from typical operating levels (cash, donations, pledges, grants, net assets, etc.) as a result of the public's response to COVID-19 in the last half of the tax year, the overall impact on the financial status and operations of the organization cannot be fully determined. Accordingly, no impairments were recorded as of the statement of financial position date (December 31, 2020), however, due to significant uncertainty surrounding the situation, management's judgment regarding this could change in the future. In addition, while the organization's financial condition, results of operations, and cash flows could be negatively impacted, the extent of the impact cannot be reasonably estimated at this time. Looking forward, the extent to which the pandemic impacts the organization's activities and results in tax year 2021 and beyond will depend on future developments, which are highly uncertain and cannot be predicted, including new information, which may emerge concerning the severity of the coronavirus and actions taken to contain the coronavirus and its impact, among others.”

“U. S. taxpayers wishing to perpetuate their de minimis safe-harbor election from year to year are required to append such election, annually and every tax year, to the rear of the return's filing. Such election is made here, having the same force as if appended. Section 1.263(A)-1(F) De Minimis Safe-Harbor Election. Taxpayer name: Baltimore Under Ground Science Space, Inc.; Taxpayer address: 101 North Haven Street, Suite 105, Baltimore, MD 21224; Taxpayer FEIN: 46-0738285. Taxpayer hereby makes the de minimis safe-harbor election under Regulation 1.263(A)-1(F).”

“In response to the COVID-19 pandemic, the majority of BUGSS' classes and seminar series were shifted to an online-delivery format. On a limited-capacity basis, however, we continued to offer some laboratory access to members, and have offered some hands-on activities, also on a limited-capacity basis.”