New Mexico Bioscience Authority

“The 990 form is typically reviewed by the Finance Committee who then recommends approval by the Full Board of Directors at the next Full Board meeting. The board members all receive the full copy of the 990 form, review it, discuss it as needed, and vote on whether to accept the form. For this amended return, the documents were reviewed by the Authority's Executive Committee.”

“The NM Bioscience Authority Board of Directors adopted a Conflict-of-Interest policy and reviews and signs one yearly. The Board actively communicates and monitors any perceived conflict-of-interest, and the Executive Committee would review if any occurred. The Board has not dealt with a conflict of interest because none have occurred.”

“Prior to posting the job advertisement soliciting a new Executive Director in Spring 2021, the NM Bioscience Authority worked with UNM Human Resources to review compensation for comparative jobs within their system in order to assure fair compensation for the position.”

“The organization publishes all meeting notices, meeting agendas, and minutes following the Open Meeting Act rules and regulations. The financial report is reviewed at monthly public board meetings. All financial documents are public and will be provided to anyone who requests them.”

“Per legislation, the NM Bioscience Authority is administratively attached to the UNM Health Sciences Center. The Authority and UNM have an Administrative and Fiscal Agency Agreement although the Board of Directors does review and approve all fiscal and administrative actions.”

“In October 2020, the NM Bioscience Authority Board of Directors voted to adopt the "1st Amendment and Reinstated Bylaws of the NM Bioscience Authority, Inc." which did make changes to the organization of committees and the authority structure of the Board.”

“The mission of the NM Bioscience Authority is to increase the amount of Bioscience industry in the state. We do that following a number of programs including our Community Readiness Program and Co-Investment Program. Both of these programs were conducted during tax year 2020, but no specific funding was needed to explicitly fund the activities which is why these accomplishments are not included on 4a-4c of this year's form 990. Activities related to the Community Readiness Program and the Co-Investment Program were accomplished as a result of NM Bioscience Authority staff activity that was reflective in their salaries. NM Bioscience staff were able to engage with Rio Rancho, NM to invite them to submit an application to certify a zone as being bioscience community ready. That application was reviewed and approved by the NM Bioscience Authority Board of Directors in June 2021 making them the second municipality to be certified as being ready to accept bioscience companies to their community. Work also moved forward with the Co-Investment Program with an initial Request for Proposals (RFP) being developed by the Board of Directors in August 2020 and a revised RFP being developed and launched in June 2021. The initial RFP resulted in two applications being considered for approval, but because of COVID related complications, the agreements did not get final approval from the Board of Directors and that initial RFP was cancelled. The revised RFP was launched in June 2021 through the University of New Mexico Office of Procurement to most effectively ensure the NM Bioscience Authority followed state procurement rules.”

“Per its enacting legislation, NM 2017 SB 478, the NM Bioscience Authority is administratively attached to the University of New Mexico Health Sciences Center. Under these guidelines, the 2.2 NM Bioscience Authority staff members are employees of the University of New Mexico paid with NM Bioscience Authority funds to work exclusively on the objectives of the Authority. As such, the Authority itself does not manage the W2 or other tax forms related to employees. These documents are managed by the University of New Mexico (UNM).”