Biotechnology Innovation Organization

“The board of directors shall designate, by resolution and with a quorum present, not more than twenty-three (23) directors of the board to act as an executive committee (ec). The executive committee shall consist of the seven (7) elected officers of the organization; the immediate past chair of the organization; the vice chairs of each section's governing board; and the balance being at-large directors from the full board (fb). If the immediate past chair is no longer eligible to serve on the fb, an additional at-large director from the fb shall be selected for the ec. The ec shall have, and be authorized to exercise, all powers of the fb as set forth in article vi, section 1(c) of the bylaws, except the power to amend the articles of incorporation or the bylaws of the organization; to change the size of the board; and to elect or remove, or make determinations as to the compensation of the directors and officers who are not employees of the organization.”

“The bio board of directors approved changes to bio's bylaws that delegate governance and decision-making authority from the full board of directors to the board's executive committee. The bio board of directors also made changes to simplify and clarify bio's bylaws, including term limits for certain directors, responsibilities for the treasurer and chief financial officer, and the roles of work groups and committees in bio.”

“The members of the organization shall be divided into four classes; core members, associate members, affiliate members, and center members, defined as follows: (a) core members: any corporation, partnership, association, or other entity organized for profit, a substantial percentage of whose business activities involve biotechnology, genomics, bioinformatics or related new technologies, is eligible for membership. Core members are those entities that utilize biotechnology, genomics, bioinformatics or other related new technologies in research, development, testing, manufacturing, or sales of product or information, as well as other firms the board so characterizes and places in this category. Core members shall be grouped in the following subcategories: (i) emerging companies, which are firms that employ fewer than 350 persons and that do not have a therapeutic or diagnostic product approved for sale in the u.s. Market; (ii) established firms, which are those firms that employ 350 or more persons or that have a therapeutic or diagnostic product approved for sale in the u.s. Market; and (iii) large firms, which are established firms that have annual worldwide sales of biotechnology products in excess of $1.5 billion; and (iv) non-domestic companies, which are core members without significant operations in the united states or significant collaborations with a u.s. Entity. (b) associate members: any corporation, partnership, association, or other entity organized for profit, a substantial portion of whose activities involve providing services or products of benefit to companies whose principal business is biotechnology, is eligible for associate membership. Associate members are those commercial entities which do not necessarily utilize biotechnology; e.g. Technical support, equipment, construction, accounting, and law firms that service the biotechnology industry, as well as other firms that the board characterizes and places in this category. (c) affiliate members: any governmental or nonprofit entity or country, state or regional industry, trade or professional association with an interest in, or a mandate to promote the development of, biotechnology is eligible for affiliate membership. There shall be no size tests applied to affiliate member applicants. (d) center members: any institution, not generally eligible for core membership that is sponsored by a state, region, or academic institution and works in support of commercial biotechnology may be eligible for consideration as a center member.”

“At all membership meetings of the organization, each current member shall have one (1) vote and may take part in the voting in person or by proxy. For each section in which the member participates, each member shall have the right to vote on the election of directors for the section governing board, but shall have no other voting rights except on matters brought to the membership by any such governing board or the organization's board of directors.”

“The form 990 and related schedules are prepared by the organization's certified public accountants with information provided by and under the guidance of the chief financial officer (cfo). The cfo and the controller thoroughly review all calculations and schedules to confirm they reflect the actual financial results of the organization. The complete form 990 is then reviewed internally by the cfo, and controller in consultation with legal counsel and, as appropriate, further consultation with the organization's certified public accountants. All reviews are completed before the form is filed with the irs.”

“Biotechnology innovation organization (bio) takes several steps to address compliance by key employees, officers and directors with its conflicts of interest policy. Bio trains all new employees and directors on various aspects of bio's compliance program, including conflicts of interest, and bio's written conflicts of interest policy requires all employees to disclose any outside personal business interests to their supervisor. Bio's general counsel regularly advises bio's executives and supervisors on such matters. Bio also contracts with an independent organization to provide employees and others with the ability to file anonymous reports concerning the violation of any laws or bio policies, including allegations of potential conflicts of interest, and bio has a process in place to follow up on any such complaints in a timely and thorough manner. Further, bio undertakes a questionnaire sent to each director on its board of directors seeking disclosure of any potential conflicts of interests they may have, or their family members may have, associated with businesses or organizations that do business with bio. Potential conflicts are monitored and reviewed at the management and senior management level of the organization, and depending on the conflict, determinations may be made at the board or senior management level. A conflict at the board level will normally result in recusal of the individual from participation or activities with respect to the relevant subject matter. At the staff level, the applicable bio supervisor is informed of the potential conflict and is required to take all appropriate steps to ensure that the individual does not participate in, or receive confidential information relating to, any bio activity related to the subject matter of the conflict, up to and including, where appropriate, termination of such employee.”

“For 2023, the president and chief executive officer (ceo) of bio (biotechnology innovation organization 52-1224577) was compensated per the terms of a multi-year contract that was determined with independent review, comparability data, and contemporaneous substantiation of the deliberation and decision, as indicated in prior form 990 submissions. In addition, based on the executive committee's evaluation of the president and ceo's performance for 2023, the committee determined the appropriate amount for the discretionary component of compensation for that year, in accordance with the relevant provision of the executive agreement. When determining the compensation of the bio president & ceo, bio has used an expert outside consultant to benchmark compensation. Compensation often includes more than just salary and bonus, and to this end, bio uses an expert outside legal counsel who has extensive experience in negotiating the terms of contracts for the president & ceo of trade associations in dc of similar size to bio. Decisions regarding the compensation for officers and key employees of the organization are negotiated individually and are performance-based, in accordance with an annual written evaluation process that has been established for all employees of the organization. An independent consultant provides comparative benchmarking services for senior management positions, and other information on compensation issues, trends, policies, and best practices for use by the organization. The organization also has an established compensation policy for all of its employees, which sets forth the general parameters governing bio's compensation practices. The process described here was last completed in 2023.”

“The organization does not make its governing documents, conflict of interest policy, and financial statements available to the public.”

“Consultants 6,772,604. Education & training 79,665. Temporary staff 723,850. Special initiatives 1,223,023. Recruiting 1,004,255.”