Altius Institute for Biomedical Sciences

“The organization has one class of membership which includes two members, dr. John stamatoyannopoulos (or his designee) and glaxosmithkline llc.”

“The members of the organization are entitled to elect directors of the board and remove only directors which they have appointed.”

“The election and removal of directors of the board is subject to approval by unanimous vote of the members.”

“The organization's secretary documents meetings and written actions of its governing body. The organization did not have committees in 2016 due to the small size of the board.”

“The president/scientific director will review the form 990 prior to its submission to the irs.”

“The organization's conflict of interest policy requires covered persons, defined as any director, officer, or member of a committee of the board of directors, to complete and sign an annual conflict of interest questionnaire. The questionnaire requires disclosure of any potential or actual conflicts of interest and is signed by the covered person, affirming that the individual has received a copy of, read, understands, and will comply with the organization's conflict of interest policy. If a potential or actual conflict of interest arises, the individual must recuse himself or herself from voting on the matter and must not be present when any such vote is taken. The board of directors evaluates all disclosures reported to determine whether an actual conflict of interest exists. Potential or actual conflicts of interest are documented in the minutes of meetings of the board of directors and committee's of the board.”

“A compensation study was conducted by an outside consultant in 2015 to determine the compensation for the president and construct a written employment contract. Compensation of similar organizations was considered and the written contract was reviewed and approved by the board of directors. The contract is effective through june, 2017.”

“The governing documents, conflict of interest policy and financial statements are made available to the public upon request.”

“All expenses associated with obtaining grants are included in program and general and administrative expenses as allowed under the indirect cost recovery provisions of the grant agreement.”

“To record prior year funding on an expense reimbursement basis -7,056,230. To book tenant improvments and other fixed assets in accordance with gaap 121,061. To recognize expenses for a 2015 conference paid in 2016 273,789.”