University Lab Partners

“Kenneth l. Beall and michael rakestraw have a business relationship.”

“The organization retains the services of lab launch, inc. To assist with the managenent of the day-to-day operation of the organization's wet lab facilities and office space.”

“Reviewed closely by the chief financial officer and reviewed in general by the president.”

“Per university lab partner's conflict of interest policy, the corporation will not be a party to any transaction in which one or more of its directors has a material financial interest, or with any entity in which one or more directors has a material financial interest. The company will not be a party to any transaction unless the corporation enters into the transaction for its own benefit; the transaction is fair and reasonable to the corporation at the time the transation is entered into; prior to consummating the transaction, the board authorizes the transaction in good faith by a vote of a majority of directors, and with knowledge of the material facts concerning the transaction and the interested director's financial interest in the transaction; prior to authorizing or approving the transaction, the board considers and in good faith determines after reasonable investigation that the corporation could not obtain a more advantageous arrangement with reasonable effort under the circumstances; and the minutes of the board meeting at which such action was taken reflect that the board considered and made the findings.”

“Compensation of all officers, if any, shall be fixed from time to time by resolution of the board. Any salaries received by officers shall be reasonable and given in return for services actually rendered for the corporation which relate to the performance of the public benefit purposes of the corporation. No salaried officer serving as a director shall be permitted to vote on his or her own compensation as an officer.”

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

“The organization began providing management and oversight services for the rapid acceleration of diagnostics (radx) initiative, a program sponsored by the u.s. National institutes of health (ni), to speed innovation in the development, commercialization, and implementation of technologies for covid-19 testing.”

“Consulting fees: program service expenses 647,308. Management and general expenses 4,649. Fundraising expenses 0. Total expenses 651,957. Outside contract services: program service expenses 9,260. Management and general expenses 77,876. Fundraising expenses 0. Total expenses 87,136. Workforce development services: program service expenses 3,723. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,723. Lab consumables, supplies, and equipment: program service expenses 49,441. Management and general expenses 0. Fundraising expenses 0. Total expenses 49,441. Dues and subscriptions: program service expenses 0. Management and general expenses 8,393. Fundraising expenses 0. Total expenses 8,393.”