Bloodworks

“The organization's bylaws were amended during the tax year to increase the maximum number of board members from eleven to thirteen. Board term eligibility was updated to clarify that board members can be eligible for nine consecutive years of service and are able to be reelected after a one year of absence from the board. Nominations for the positions of chair or vice chair are no longer required to be declared in writing by the nominated candidate at least seven days prior to the annual meeting.”

“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 2023, 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.”

“Book/tax difference 2,414.”