New Mexico Bioscience Authority

“The 990 form is typically reviewed by the NM Bioscience Authority Finance Committee and then they recommend 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 occured. 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 Fall 2019, the NM Bioscience Authority worked with the University of New Mexico Human Resources department to review compensation for comparative jobs within their system in order to assure fair compensation for the position.”

“The organization publishes all full board meeting notices, meeting agendas, and minutes monthly. The financial report is reviewed at monthly public board meetings. All financials are public and will be provided to anyone who requests them.”

“As described earlier, the NM Bioscience Authority is administratively attached to the University of New Mexico Health Sciences Center. The Authority has an Affiliation and Fiscal Agency Agreement with the University of New Mexico although the Board of Directors does review and approve all fiscal and administrative actions.”

“The Program Service Revenue included on 2a is for a contract awarded to the NM Bioscience Authority to develop a Community Readiness certification program to help municipalities throughout the state identify zones or regions they can certify as being ready to accept bioscience companies moving to or expanding within the state. During this tax year, the NM Bioscience Authority completed Tasks 3 and 4 of the contract which included developing the scoring criteria and having the resulting document reviewed by the City of Albuquerque Planning Department and NAIOP.”

“Prior to this year, the NM Bioscience Authority had not generated the revenue to effectively engage in program services. This year, the Authority did have the revenue necessary to engage in two program services to address the goals of the organization: first, they contracted with Econsult Solutions, Inc. to work with the Board of Directors to develop a strategic plan for the state to follow, and second, they partnered with other organizations throughout the state to create a 16-page insert in the national Site Selection magazine to promote New Mexico bioscience businesses and opportunities to a broad audience.”

“The $54,043 listed on Part IX 11g is the amount of money paid to the Econsult Solutions Inc. (ESI) external consulting organization that worked with the NM Bioscience Authority Board of Directors to develop the state's strategic plan for the bioscience industry.”

“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 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.”