University Lab Partners

“Greg bohdan and kenneth l. Beall have a business relationship, and kenneth l. Beall and michael rakestraw have a business relationship.”

“Reviewed closely by the chief financial officer and reviewed in general by the president. A copy of the 990 is provided to all board members prior to submission to the irs.”

“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.”

“The top official, president, is not compensated and duties are performed on a volunteer basis. Compensation of all other 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.”

“Consulting fees: program service expenses 959,850. Management and general expenses 23,562. Fundraising expenses 0. Total expenses 983,412. Outside contract services: program service expenses 10,258. Management and general expenses 137,495. Fundraising expenses 0. Total expenses 147,753. Workforce development services: program service expenses 87,295. Management and general expenses 0. Fundraising expenses 0. Total expenses 87,295. Lab consumables, supplies, and equipment: program service expenses 48,777. Management and general expenses 0. Fundraising expenses 0. Total expenses 48,777. Maintenance & repair: program service expenses 0. Management and general expenses 33,951. Fundraising expenses 0. Total expenses 33,951. Event planning: program service expenses 130,707. Management and general expenses 0. Fundraising expenses 0. Total expenses 130,707.”