Bloodworks

“The amended bylaws change the required composition of the board of trustees from a minimum of 13 and a maximum of 21 trustees to a minimum of 7 and a maximum of 11 trustees.”

“Internally, data for the form 990 is prepared by the accounting department and reviewed by the controller and the chief financial officer. The form 990 is then prepared by our cpa firm. External review consists of the form 990 being emailed to members of the board of trustees so that the form 990 can be reviewed.”

“Bloodworks has all human resource policies (including conflict of interest) online and accessible. Any changes are highlighted and sent to all employees. Upon hire and upon major policy changes, employee signs acknowledgement form to evidence that she/he is responsible to read and become acquainted with the policies. Annually board members must sign a form and disclose conflicts of interest. These are reviewed by the board chair and president. If a conflict of interest exists, an interested person may make a presentation, but must leave the meeting during any discussion of the matter. The chairperson may, if appropriate, appoint a disinterested person to investigate alternatives. The board or committee shall exercise due diligence to determine whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement that does not create a conflict of interest.”

“The compensation committee of the board reviews and approves the president's compensation based on research of other comparable organizations and industry standards performed by a compensation consulting firm. In 2019 an outside consulting firm provided trends in both performance increases and bonuses for ceos. The board used this information in the president's compensation review. Key employee and officer salaries are reviewed against market data with consideration of internal equity. Market data includes annual survey from industry association and comparison to additional regional and national market data approximately every two to three years. In addition, medical staff salaries are reviewed against university ranges for physicians of like specialties.”

“Governing documents and audited financial statements are available upon request. Bloodworks has all human resource policies (including conflict of interest) online and accessible.”

“As part of the hemophilia care program, bloodworks is allowed to participate in the 340b drug pricing program (340b program) which provides discounted prices from drug manufacturers on outpatient pharmaceutical purchases. The 340b program is overseen by the health resources and services administration (hrsa) office of pharmacy affairs (opa) through a grant awarded to the oregon health and science university (ohsu). After november 27, 2020, bloodworks' grant will not be renewed and the organization will no longer participate in the 340b program. On october 19, 2020, bloodworks agreed to pay ohsu the balance of unspent 340b program savings generated from pharmaceutical discounts accumulated during 27 years of participating in the program. As of june 30, 2020, the unspent savings were calculated as $20,098,849. The organization recognized the unspent savings as a loss, recording a liability for the program closure as of june 30, 2020. Gaap treatment has been followed for the tax return and the loss was reported on the statement of revenue.”