Los Angeles Biomedical Research Institute at Harbor-UCLA Medical Center

“La biomed has one class of members, referred to as "regular members". Regular members apply for membership. In order to be eligible for membership, applicants must either be an active investigator, educator, or other person serving on the professional staff or be an individual with an active interest in the institute.”

“A majority of regular members voting at a duly noticed annual or special meeting have the right to fill a vacancy on the governing board by electing directors to any vacancies not filled by the governing board. Additionally, a majority of regular members voting at a duly noticed annual or special meeting can elect to remove a director without cause.”

“A majority of regular members voting at a duly noticed annual or special meeting may elect to amend the articles of incorporation. A majority of regular members voting at a duly noticed annual or special meeting may elect to dissolve the corporation.”

“The audit committee will review the preliminary tax return and ask relevant questions to the preparer prior to the filing of the tax return. A copy of the final draft of the return will be forwarded to the entire board of directors before it is filed.”

“All board members, insiders, and senior management must read and sign off on a conflict of interest policy. Every board member is required to complete an annual conflict of interest and reasonable efforts questionnaire. Upon the identification of any conflicts, the chairman and the board will determine the proper procedure for addressing the conflict.”

“The organization has a compensation committee that determines the compensation of the top management and top financial officials (ceo and cfo) of the organization independently and through the use of compensation studies and comparable data. The board of directors approves the compensation and the compensation agreement with the president/ceo in an independent session, without participation of the interested party.”

“The form 990 and other organization governing documents are held at la biomed's office and are available to the public by written or verbal request. A copy of the form 990 is also available on guidestar.org.”

“Some of the board members receive compensation as a result of their employment as investigators/researchers. For the most part, compensation paid to researchers and investigators is based on rates approved by third party sponsoring agencies, taking into account the specialized knowledge and oversight duties of the researchers and investigators for the projects under their direction. Such amounts are not determined by any insider of the organization.”

“The entity receives the vast majority of its funding on an annual basis from federal, state and county governmental sources. The entity spends a relatively small amount of expenses in obtaining government funding, due to the large nature of government grants.”

“Fas 158 - post retirement adjustments -427,266. Interest rate swap 204,416.”