North Carolina Biotechnology Center

“The composition of our governing board is specified in the by-laws and consists of specific positions from various organizations in the state (president of the university of north carolina for example). Members are appointed by various state officials, for example (3 members are appointed from the governor's office). The organization can have up to 40 board members of which 19 are elected by the board members themselves and not specifically designated or appointed.”

“The review and filing of the 990 has been delegated to the center's audit committee. A thorough review is conducted prior to filing. A complete copy of the finalized return is sent to the board of directors before filing.”

“North carolina biotechnology center requires all board of directors and officers of the organization to complete a statement of economic interest form each year. These are maintained by the center in the finance department and off-site. Through these documents, the north carolina biotechnology center is aware of the associations reported by the board members and officers, and can review financial transactions and other activities for potential conflicts of interest. In the event of a potential conflict of interest, any interested party must recuse himself/herself from any discussions or vote.”

“The north carolina biotechnology center has a salary structure in place for the purpose of administering, managing and adjusting salaries. Based on benchmark comparisons to the selected labor market, jobs are assigned to salary levels. The salary structure is made up of overlapping pay ranges. The salary structure for the north carolina biotechnology center consists of 10 salary levels numbered from 10 - 20. Each salary level consists of a minimum job rate and a maximum. The minimum is the lowest salary rate that the north carolina biotechnology center pays for an employee who meets the minimum qualifications for a particular job. The job rate is the competitive salary rate determined by salary surveys and is based on the median salaries in the competitive labor market. It is the control point of the salary structure. The maximum is the highest salary rate applied to a particular job at the north carolina biotechnology center. The north carolina biotechnology center continually reviews and updates job descriptions to ensure that the job description and the job itself are lined up appropriately. If they are not, the salary grade for the position is reviewed and changed accordingly and so is the salary. When considering a salary for a new employee, the north carolina biotechnology center uses a salary alignment guide which considers the applicant's education, directly related experience in terms of the job description, and years of directly related experience. When considering executive positions, ncbc uses the most recent salary surveys for a similar position in the open market and bases the salary on the salary alignment guide as well as similar positions at the organization. The development and compensation committee reviews and approves compensation for senior management (president and senior vice presidents) and benefit packages as a whole. Compensation decisions are made by the committee and documented in the meeting minutes.”

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