Bioone

“Bioone has five founding organizations, four of which are able to appoint directors according to the organization's bylaws.”

“According to the organization's bylaws, bioone's board of directors shall be composed of four members appointed by the four founding organizations and up to 11 at large members elected by the board. The four founding organizations with these appointment rights are: the american institute of biological sciences, the scholarly publishing and academic resources coalition, the university of kansas, and the greater western library alliance. No individual member of the governing board has the power to appoint someone to the board.”

“The form 990 was distributed to bioone's audit and oversight committee (aoc), which reviewed the form for accuracy, and made a report to the full board of directors at its next meeting. If there are any questions or problems raised by the aoc, details are worked through with bioone management. The final document is submitted to the entire board of directors, and reviewed a final time by the aoc, before filing with the irs. The form 990 is also posted on the organization's website.”

“Bioone has adopted a code of ethics, conflict of interest, anti-fraud and inclusivity policies that are distributed to staff and all directors and officers. These documents are reviewed and redistributed as part of an annually updated handbook for the board of directors. Monitoring and enforcement of these policies are done at each meeting of the board when issues are raised that could potentially be considered conflicts of interest. If a director feels that there is a conflict, they leave the meeting, the action and reason are documented in the minutes, and if necessary, details of the decision are carefully expunged from the set of minutes distributed to that director following the meeting. Directors sign annually a formal disclosure statement. Originals are kept in the bioone hq office and in a secure location online.”

“In november 2020, the finance committee met in executive session to review the contractual terms for an increase in the president/ceo's salary for 2021. Per the terms of her contract, the president/ceo had prepared a summary of activities and accomplishments during fiscal year 2020. The finance committee's recommendation was presented to the full board of directors, again in executive session, at their november 2020 meeting. The chair, empowered by the bylaws, then met via teleconference with the president/ceo, to discuss her prepared review and the board's approval. The president/ceo concluded her tenure with bioone concurrent with the conclusion of her existing contract, at the close of 2021. As such, the board of directors created a president/ceo search committee in 2021 and initiated and managed a wide-ranging competitive search for a new president/ceo to begin in january 2022. Prior to negotiations with the selected candidate, an established range for the position's compensation was determined by the committee. This range was informed by a comprehensive review of comparable data from similar sized non-profit organizations, published compensation reports by three prominent organizations, as well as consultation with bioone's accounting and legal partners. The full bioone board of directors reviewed, voted, and approved of the terms and compensation of the employment agreement for the incoming president/ceo. The president/ceo is responsible for the compensation of all employees of the organization. Salaries, benefits, and eligible promotions are reviewed on an annual basis and benchmarked across a variety of sources, to include comparable data from similar sized non-profit organizations, and published compensation reports for non-profit organizations, for dc-based organizations, and for organizations operating in scholarly communications. Once an employee's annual review is complete, the president/ceo provides a summary to the board chair and treasurer along with appropriate documentation and justification for any compensation adjustments made. Substantial salary increases to include promotions are budgeted for and recommended to the board via the finance committee.”

“The organization makes its governing documents, conflict of interest policy, and audited financial statements available upon request. The audited financial statements are also posted on the organization's website.”

“On april 14, 2021, bioone received notice of a paycheck protection prgram "ppp" forgiveness payment. As authorized by section 1106 of the cares act, sba has remitted $145,400.00 in principal and $1,393.42 in interest. Bioone will retain all records relevant to the loan forgiveness application that prove compliance with the requirements of section 7(a) of the small business act for the 4-year period following submission of the loan forgiveness application.”

“The organization began the bioone complete archive program during the year.”

“Surplus share -953,052. Rounding 1.”