| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | EACH MEMBER OF THE BOARD OF DIRECTORS IS PROVIDED WITH A COPY OF THE COMPLETED FORM 990 FOR REVIEW PRIOR TO ELECTRONIC FILING. THE PRESIDENT AND CEO, IN COORDINATION WITH THE TREASURER AND FINANCE COMMITTEE, PRESENTS THE RETURN TO THE BOARD FOR DISCUSSION DURING A SCHEDULED MEETING OR VIA REMOTE PARTICIPATION. BOARD MEMBERS ARE INVITED TO ASK QUESTIONS, AND RESPONSES ARE PROVIDED BY THE PRESIDENT/CEO, TREASURER, OR OTHER APPROPRIATE STAFF OR ADVISORS BEFORE SUBMISSION. |
| FORM 990, PART VI, SECTION B, LINE 12C | CONFLICT OF INTEREST POLICY IS CLOSELY MONITORED FOR EFFECTIVENESS. |
| FORM 990, PART VI, SECTION B, LINE 15A | TO ESTABLISH APPROPRIATE AND REASONABLE COMPENSATION, THE ORGANIZATION CONDUCTED AN INFORMAL SALARY BENCHMARKING PROCESS BY GATHERING DATA FROM APPROXIMATELY TEN PEER LIFE-SCIENCE AND BIOSCIENCE ASSOCIATIONS ACROSS THE COUNTRY, WITH A PARTICULAR FOCUS ON ORGANIZATIONS LOCATED IN THE SOUTHEAST REGION. THIS BENCHMARKING FOCUSED ON COMPARABLE ROLES, ORGANIZATIONAL BUDGETS, AND GEOGRAPHIC CONSIDERATIONS TO ENSURE ALIGNMENT WITH INDUSTRY STANDARDS AND BEST PRACTICES. THE BENCHMARKING RESULTS WERE PROVIDED TO THE EXECUTIVE COMMITTEE AND THEN SHARED WITH THE FULL BOARD OF DIRECTORS. THEY REVIEWED THE DATA, DISCUSSED RECOMMENDATIONS, AND ESTABLISHED A PROPOSED COMPENSATION AMOUNT. THE FINAL CEO COMPENSATION FOR 2024 WAS FORMALLY REVIEWED, APPROVED, AND VOTED ON BY THE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION C, LINE 19 | UPON REQUEST BY DONORS AND/OR THE GENERAL PUBLIC, GEORGIA BIOSCIENCES ORGANIZATION PROVIDES THE REQUESTED INFORMATION FOR THE ABOVE STATED DOCUMENTS. |
| FORM 990, PART IX, LINE 11G | PROFESSIONAL FEES 214,389. |
| FORM 990, PART XI, LINE 9: | ALLOWANCE FOR CREDIT LOSSES -24,772. |
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