Aabb Foundation Inc.

“The executive committee shall have all the powers and authority of the board of directors and shall function on behalf of the board of directors during interim periods between regularly scheduled board of directors meetings.”

“American association of blood banks is the sole member of aabb foundation inc.”

“As the sole member, american association of blood banks has the power to appoint aabb foundation inc board members.”

“As the sole member, american association of blood banks must approve the following actions of aabb foundation inc (foundation): a) dissolution of the foundation b) merger or consolidation involving the foundation c) disposition of all or substantially all of the assets of the foundation d) purchase, sale, mortgage, lease or other development of real property of the foundation e) amendment of the articles of incorporation or bylaws of the foundation f) appointment and removal of the foundation's board of directors g) approval of the foundation's engagement of an independent financial consultant and approval of corrective actions plans related to material financial and operating issues h) engagement of independent auditors, approval of their reports, and review of their performance i) approval of the operating and capital budgets and any strategic plans of the foundation, including any material amendments or modifications thereto; and j) establishment of any new legal entities or lines of business or any activity that would impact the tax exemptions of the foundation or aabb”

“The amended form 990 is prepared by aabb foundation inc's (the foundation) external cpa firm and reviewed by the foundation's management. In addition, the amended form 990 is circulated to the audit committee and board of directors of american association of blood banks, a related organization, for commentary prior to filing with the internal revenue service.”

“Aabb foundation inc has formally adopted the conflict of interest (coi) policy of its sole member, american association of blood banks (aabb). Individuals covered by the coi policy include board and committee members, volunteer assessors, employees, and the editorial board. Annually, or more frequently as necessary, covered individuals are required to complete a disclosure statement. The disclosure statements are reviewed by the executive office and human resources department to identify perceived or actual conflicts. Subsequently, the board president, editor-in-chief, or committee chair will determine whether the conflicted individual must be excused from discussions or precluded from voting on the issue giving rise to the conflict. In the event of a disagreement, the audit and ethic committee will be consulted for resolution.”

“No documents available to the public”

“The processes for oversight of the audit and selection of the independent accountants to perform the audit has not changed from the prior tax year.”

“Aabb foundation inc amended its 2022 form 990, return of organization exempt from income tax, to adopt various financial and disclosure information from its completed audited financial statements and to align with the form 990 instructions. At the time the original form 990 was filed, only draft audited financial statements were available.”