New Mexico Bioscience Authority

“The 990 form is reviewed by the NM Bioscience Authority's 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.”

“The NM Bioscience Authority Board of Directors has adopted a Conflict-of-Interest policy and each director completes and signs a conflict of interest form on an annual basis. The Board actively communicates and monitors any perceived conflict-of-interest, and the Executive Committee reviews under consultation with the University of New Mexico legal counsel if any occurs.”

“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.”

“The full Board of Directors is comprised of 13 members, so at the end of 2024 tax year, the Board of Directors was fully appointed.”

“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.”

“$18,750 was paid to Ecomap Technologies for them to build and maintain the New Mexico Bioscience Connect ecomap, www.nmbioscienceconnect.com. This cost was explicitly in line with the mission of the New Mexico Bioscience Authority and the SBA GAFC prize awarded to the NMBSA to build a rural biotech ecosystem. $5,000 was paid to NM Angels for their consultation services related to building the ecomap and for their help promoting the efforts of the Rural Biotech Ecosystem throughout the state. The NM Angels was included as a collaborator on the application to the SBA GAFC prize.”

“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).”

“As stated earlier, 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 in place that identifies accountants at the University of New Mexico to oversee and compile financial information for the NM Bioscience Authority. Statements are shared monthly with the Bioscience Authority's finance committee and full board for their review. Accounting services are managed by Michelle Parra, an employee of the University of New Mexico Health Science Center.”