Bloodworks

“The amended bylaws included the following changes: - no member of the board may be an employee of the corporation, and each member must maintain a current, signed conflict of interest statement filed with the secretary of the board. - after serving a maximum number of terms a trustee may be reelected after a three year's absence from the board. - no more than four board meetings per year will be compensated for attendance by any trustee. - board secretary and treasurer officer positions were added. These may be the corporation's secretary and treasurer respectively and need not be elected nor serve as trustees. - officers are elected by a majority of the votes at a meeting where a quorum is present. - a trustee may hold the chair position for a maximum two consecutive terms. - a trustee may hold the vice chair position for a maximum three consecutive terms. - the immediate past chair position was removed. - any officer, employee, or agent of the corporation is authorized to receive reasonable compensation for services rendered to the corporation. Said compensation is no longer required to be authorized by the majority of the board. - the ceo shall be selected and removed by the board at its discretion. - board members may no longer receive compensation for services provided to the organization that are in addition to board services.”

“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. In addition to internal review, the draft form 990 is provided to members of the board of trustees for their review.”

“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 they are 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.”

“Bloodworks' hemophilia care program, (dba the washington center for bleeding disorders, or wacbd), became its own independent entity on november 28, 2020. The washington institute for coagulation (wic), run by former bloodworks' employees, will continue to do business as wacbd and serve patients with bleeding disorders. Wic has been awarded the federal grant to operate a 340b drug pricing program in the region. As part of the hemophilia care program, bloodworks participated 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). Bloodworks has participated in the 340b program since april 1, 1993. After november 27, 2020, bloodworks' grant was not renewed and the organization no longer operates a hemophilia care clinic and related pharmacy. The 340b program stipulates that cost savings be used to further the care of hemophilia patients. 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. Unspent funds of $20,759,261 were transferred to ohsu and recorded as losses related to the program closure in 2021 and 2020 of $660,412 and $20,098,849, respectively. The audited financial statements and related disclosures reflect the hemophilia care program as discontinued operations in accordance with u.s. Gaap.”

“Book/tax difference -171,052.”