Washington Biotechnology & Biomedical Association

“The affairs and property of the corporation shall be managed under the direction of the executive committee. The executive committee shall have sole voting power with respect to all matters relating to the corporation. This includes, without limitation: (1) electing officers of the corporation, (2) appointing board committees, (3) approving the corporation's annual budget, and (4) approving the corporation's public policy priorities. Form 990, part vi, section a, line 1b: the president and ceo/secretary has limited voting rights. The person in this position only votes to break a tie in board votes.”

“The organization's vice president of administration works closely with the staff controller and external public accounting firm engaged to prepare the return. A draft of the form 990 is also reviewed by the controller and vice president of administration prior to providing the final draft to the president. The executive committee has delegated the final review of the form 990 to the president. Subsequent to final review, the president reports back to the executive committee regarding its oversight of the form 990 and the final draft is provided to the treasurer before the return is filed.”

“1. All compensation is reviewed and approved by the organization's executive committee or the compensation committee, provided that any person with a conflict of interest regarding compensation issues is not involved in the review and approval process. 2. The compensation is reviewed and approved using the american society of association executives salary survey as to comparable compensation for similarly qualified persons, in functionally comparable positions, for similar organizations. 3. Minutes of compensation meetings are kept and there is contemporaneous documentation and recordkeeping with respect to deliberations and decisions regarding compensation. The date of the last compensation review was october 2024.”

“The organization's governing documents and financial statements are available upon request.”

“Volunteers include members of the board of directors, executive committee, finance committee and life science innovation northwest committee as well as onsite volunteers to set up and assist during actual events.”