Seattle Institute for Biomedical and Clinical Research

“All board members receive a copy of the irs form 990 in electronic format. The seattle institute for biomedical and clinical research audit committee is authorized to approve the return on behalf of the entire board, provided they have given the other members one week to review and submit questions (if any) to management.”

“All directors and officers are required to sign an annual conflict of interest statement. Quarterly board meetings include a request for full disclosure of a conflict of interest. Board members recuse themselves of any action where there is a real or perceived conflict of interest.”

“Contemporaneous salary comparisons are performed by human resources for the executive director and chief financial officer. A rebuttable presumption of reasonableness is approved by the board within 60 days of any salary adjustments for the executive director and chief financial officer. The last compensation review was done in 2018.”

“Audited financial statements and conflict of interest policies are posted to the seattle institute for biomedical and clinical research website as they become available. All other governing documents are available upon request.”

“Each board member listed on part vii was given a questionnaire that was developed internally. The questionnaire includes the members' name, title and lines for signature and date. The questionnare includes all pertinent instructions and definitions to facilitate the members' disclosure of information necessary for sibcr to determine whether the board member is independent for purposes of part vi, line 1b disclosure. Compensation paid by the related organization for some directors was obtained from publicly available sources and was based on fiscal year 2017 information.”

“Volunteers served as members of the board of directors.”

“Seattle institute for biomedical and clinic research receives federal funding which is passed on to sub-recipients. These sub-recipients are reported on line 24a, as they are not grantees of the organization.”

“Although the organization has substantial contribution revenue, it does not incur fundraising expenses. Fundraising activities and contributions to the organization are conducted by a related organization.”

“The organization's only unrelated business income is qualified transportation benefits taxable as unrelated business income under code sec. 512(a)(7). Qualified transportation benefits are not reported as revenue on form 990, part viii, so part i, line 7a is blank. Part i, line 7b represents the unrelated business taxable income reported on form 990-t resulting from code sec. 512(a)(7) qualified transportation benefits.”