The Biotechnology Incubator at Nymc Inc

“Organization members the sole member, acting through its board of directors or its duly appointed representative, shall meet annually for the purpose of electing directors. Further, any director may be removed at any time, with or without cause, by action of the sole member. Lastly, the bylaws may be amended or repealed by the sole member, or by the affirmative vote of two-thirds of the entire board present at any meeting of the board at which a quorum is present. The board of directors may not amend or repeal article iii [members] of the bylaws if such amendment or repeal would adversely affect the rights of the sole member. Notice of any change to the bylaws adopted by the board of directors shall be provided to the sole member within 30 days of such change.”

“SEE NARRATIVE ABOVE.”

“SEE NARRATIVE ABOVE.”

“Form 990 review bioinc form 990 and supporting schedules are prepared by an independent accounting firm then reviewed by the senior management of nymc, specifically the controller, the vice president and cfo and general counsel and submitted to and reviewed by the audit committee of the board of trustees of nymc. Copies of this return are distributed to the full board of bioinc before the form is filed with the internal revenue service.”

“Conflict of interest review bioinc has adopted and follows the conflict of interest policy of its related entity, nymc. Nymc has two conflict of interest policies, one for the members of the board of trustees and the second is applicable to all full-time faculty and employees of nymc, including those working at bioinc. Annual disclosure forms are distributed and are required to be submitted by both policies. Compliance with the board of trustees conflict of interest policy is monitored by new york medical college's institutional compliance officer, the audit committee and the board of trustees of nymc. Compliance with the conflict of interest policy applicable to full-time faculty and employees is monitored by the institutional compliance officer and audit committee of new york medical college. Formal conflict management plans are implemented for any actual conflicts of interest. Form 990, part vi, section b, lines 13 and 14: governance policies bioinc does not have separate governance policies. It has adopted and follows the governance policies of its related entity, nymc. Nymc has governance policies (whistleblower, documentation retention, etc.)”

“Document availability the governing documents and other policies are available upon request.”

“Bioinc employees all individuals working for bioinc are paid and employed by new york medical college ("nymc"), a related 501(c)(3) tax exempt entity. All forms w-2 are issued by nymc. The portion of their salaries allocated to time worked for bioinc has been properly reported as bioinc salary expense.”

“Bioinc does not have any employees. All individuals reported on part vii and schedule j, are compensated by a related tax-exempt organization. In evaluating whether any individuals are key employees the compensation paid by the related organization is considered in applying the compensation thresholds.”

“The biotechnology incubator at nymc inc. ("bioinc") helps these emerging companies with a variety of support resources and services that will advance them to success.”

“Bioinc employees all individuals working for bioinc are paid and employed by new york medical college ("nymc"), a related 501(c)(3) tax exempt entity. All forms w-2 are issued by nymc. The portion of their salaries allocated to time worked for bioinc has been properly reported as bioinc salary expense.”