2013-05-13T17:12:35-05:00 2012-06-30 911194016 CLARK NUBER PS 10900 NE 4TH STREET SUITE 1700 BELLEVUE WA 98004 990 2011-07-01 910961784 SEATTLE BIOMEDICAL RESEARCH INSTITUTE SEAT 2062567200 307 WESTLAKE AVENUE NORTH NO 500 SEATTLE WA 981095219 DREW HOUSE 2062567200 2013-05-13 1 JANE M SEARING P00000565 4254544919 2013-05-09 2011 2016-02-24 21:20:13Z SEATTLE BIOMED ALAN ADEREM 307 WESTLAKE AVENUE NORTH NO 500 SEATTLE WA 981095219 47701263 0 X WWW.SEATTLEBIOMED.ORG X 1976 WA TO ELIMINATE THE WORLD'S MOST DEVASTATING INFECTIOUS DISEASES. 22 21 418 37 243129 240429 48141286 44639249 344293 448862 489016 133411 2412065 2388474 51386660 47609996 0 0 0 0 19378878 22513121 0 0 418788 27231062 27584656 46609940 50097777 4776720 -2487781 42541497 37339001 17648536 16062883 24892961 21276118 X SEATTLE BIOMED IS THE LARGEST, INDEPENDENT, NON-PROFIT RESEARCH INSTITUTE IN THE U.S. FOCUSED SOLELY ON THE WORLD'S MOST DEVASTATING INFECTIOUS DISEASES. WE ARE DEDICATED TO REDUCING HUMAN SUFFERING AND SAVING LIVES BY CONVERTING KNOWLEDGE INTO SOLUTIONS. OUR RESEARCH IS THE FOUNDATION FOR NEW VACCINES, DRUGS AND DIAGNOSTICS THAT WILL BENEFIT THOSE WHO NEED IT MOST: THE 14 MILLION WHO WILL OTHERWISE DIE EACH YEAR FROM INFECTIOUS DISEASES. SEATTLE BIOMED IS ONE OF SEVERAL RESEARCH ORGANIZATIONS AROUND THE WORLD THAT ARE PIONEERING THE SYSTEMS BIOLOGY OF INFECTIOUS DISEASE RESEARCH. BECAUSE RESEARCH ON MULTIPLE DISEASES TAKES PLACE ALL UNDER ONE ROOF, SCIENTISTS AT SEATTLE BIOMED HAVE UNIQUE OPPORTUNITIES TO DISCUSS AND COLLABORATE ACROSS RESEARCH AREAS. EVERY DAY, THE SCIENTISTS AT SEATTLE BIOMED STRIVE TO END THE THREAT OF INFECTIOUS DISEASE BY INFLUENCING HOW WE THINK ABOUT THOSE DISEASES, INVENTING NEW SOLUTIONS, AND EDUCATING THE NEXT GENERATION OF SCIENTISTS AND OUR COMMUNITY. 0 0 12490002 107040 EMERGING AND NEGLECTED DISEASES: THE RESEARCH IN THIS PROGRAM FOCUSES ON THE DISCOVERY OF NEW DRUGS AND BIOMARKERS FOR EMERGING AND NEGLECTED DISEASES, SUCH AS AFRICAN SLEEPING SICKNESS. MAJOR SCIENTIFIC ADVANCES INCLUDE THE IDENTIFICATION OF THE INOSITOL PATHWAY AS A DRUG TARGET IN TRYPANOSOMES AND SOLVING THE THREE-DIMENSIONAL STRUCTURES OF OVER 560 PROTEINS FROM MORE THAN 40 BACTERIAL, PROTOZOAN, AND VIRAL STRUCTURES, THEREBY PROVIDING A VALUABLE RESOURCE FOR FUTURE DEVELOPMENT OF DRUGS, VACCINES, AND DIAGNOSTIC TOOLS. 13543510 118101 MALARIA: RESEARCHERS AT SEATTLE BIOMED FOCUS ON DEVELOPING VACCINES AND DRUGS FOR EARLY-STAGE MALARIA, SEVERE MALARIA IN CHILDREN, AND PREGNANCY MALARIA. MAJOR ADVANCES INCLUDE IDENTIFYING NEW CANDIDATE MALARIA VACCINES THAT CAN BE TESTED IN SEATTLE BIOMED'S MALARIA CLINICAL TRIALS CENTER, ELUCIDATING HOW THE MALARIA PARASITE MANIPULATES LIVER CELLS, DISCOVERING HOW PARASITES CAUSE CEREBRAL MALARIA, USING COMPUTATIONAL ANALYSES TO LEARN MORE ABOUT HOW THE IMMUNE SYSTEM RESPONDS TO MALARIA, AND IDENTIFYING NEW CLASSES OF DRUGS THAT COULD BE USED TO PREVENT MALARIA AND MINIMIZE THE DEVELOPMENT OF DRUG-RESISTANT PARASITES. 13966745 119019 VIRAL VACCINES: SEATTLE BIOMED IS WORKING TO PIONEER NEW VACCINE SOLUTIONS FOR HIV AND OTHER DANGEROUS VIRAL DISEASES. MAJOR SCIENTIFIC ADVANCES INCLUDE DISCOVERING WHY PREVIOUSLY TESTED HIV/AIDS VACCINES FAILED TO GENERATE A PROTECTIVE IMMUNE RESPONSE, DESIGNING NEW VACCINE CANDIDATES THAT HAVE BEEN SUCCESSFULLY TESTED IN THE LABORATORY, AND SHEDDING LIGHT ON HOW DIFFERENT VACCINE DESIGNS AFFECT THE CHARACTER OF THE IMMUNE RESPONSE PRODUCED TO A VACCINE. 2539408 23297 TUBERCULOSIS: THE RESEARCH IN THIS PROGRAM FOCUSES ON THE DISCOVERY OF NEW DRUGS AND BIOMARKERS FOR TB, IN PART BY STUDYING THE INTERACTIONS BETWEEN THE HOST AND THE PATHOGEN. RECENT PROGRESS INCLUDES IDENTIFYING THE ROLE OF SPECIFIC TB PROTEINS IN BACTERIALS PERSISTENCE, DEVELOPING A STREAMLINED APPROACH TO IDENTIFY DRUG TARGETS, ESTABLISHING ASSAYS FOR NEW TB DRUGS, CHARACTERIZING THE HOST RESPONSE TO INFECTION AND VACCINATION, AND DEVELOPING A LOW-COST, POINT-OF-CARE DIAGNOSTIC TEST THAT CAN DETECT ACTIVE TB DISEASE. SEATTLE BIOMED HAS FOUR PRINCIPAL INVESTIGATORS COMMITTED TO THIS RESEARCH. 594243 81405 BIOQUEST: THE PRIMARY GOAL OF SEATTLE BIOMED SCIENCE OUTREACH PROGRAM, BIOQUEST, IS TO PROVIDE A CURRICULUM-RELEVANT, CAREER-INSPIRING, TECHNOLOGY-RICH SCIENCE EDUCATION PROGRAM WITHIN THE CONTEXT OF INFECTIOUS DISEASE RESEARCH TO HIGH SCHOOL STUDENTS, TEACHERS, AND THE GENERAL PUBLIC. WE ARE THE ONLY ORGANIZATION IN THE NATION TO OFFER A 32-PERSON TEACHING LAB, WITHIN THE FOOTPRINT OF AN INFECTIOUS DISEASE RESEARCH INSTITUTE. 3133651 104702 43133908 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 63 0 1 418 1 1 1 0 0 0 0 1 1 0 0 0 1 0 X 22 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 WA X X DREW HOUSE 2062567200 307 WESTLAKE AVE N 500 SEATTLE WA 981095219 DEAN ALLEN 1.00 X 0 0 0 ROSEMARY BARKER ARAGON 2.00 X 0 0 0 JANE A BIDDLE PHD 1.00 X 0 0 0 GREGG BLODGETT 1.00 X 0 0 0 MAUD DAUDON 1.00 X 0 0 0 JANE HEDREEN 1.00 X 0 0 0 DARRYL JOHNSON 2.00 X X 0 0 0 ALAN LEVY PHD 1.00 X 0 0 0 NEIL MCDONNELL PHARMD 1.00 X 0 0 0 TERRENCE R MEERSMAN 1.00 X 0 0 0 TREVOR MOODY 1.00 X X 0 0 0 TODD PATRICK 1.00 X X 0 0 0 CHRISTOPHER H PORTER PHD 1.00 X 0 0 0 KRIS RICHEY 1.00 X 0 0 0 MIKE STULL 1.00 X X 0 0 0 MOYA VAZQUEZ 2.00 X 0 0 0 MELISSA YEAGER 1.00 X 0 0 0 MARK ASHIDA 1.00 X 0 0 0 RICHARD BEAR 1.00 X 0 0 0 ALEXANDRE PORTET 1.00 X 0 0 0 BRYAN WHITE 1.00 X 0 0 0 KENNETH STUART PHD 40.00 X X 298120 0 28736 KAREN BLOCHLINGER PHD JD 40.00 X 156912 0 19866 ALAN ADEREM PHD 40.00 X 220949 0 28290 LYNN ZIMMERMAN 40.00 X 142078 0 17771 DREW HOUSE 40.00 X 0 0 0 LOUIS COFFMAN 40.00 X 0 0 0 RANDAL HASSLER 40.00 X 194919 0 29482 LEONIDAS STAMATATOS PHD 40.00 X 167757 0 21850 IAN CRISPE MD PHD 40.00 X 183470 0 25160 STEFAN KAPPE PHD 40.00 X 143558 0 17290 PETER MYLER PHD 40.00 X 144057 0 24401 MARILYN PARSONS PHD 40.00 X 160115 0 22999 DAVID SHERMAN PHD 40.00 X 135832 0 23905 1947767 0 259750 25 0 1 0 EMERALD BIOSTRUCTURES 7869 NE DAY RD WEST BAINBRIDGE ISLAND WA 98110 RESEARCH 2614314 UNIVERSITY OF WASHINGTON BOX 352100 SEATTLE WA 98195 RESEARCH 2487197 FRED HUTCHINSON CANCER RESEARCH CENTER 1100 FAIRVIEW AVE N SEATTLE WA 98109 PROTEIN ANALYSIS 654856 INSTITUTE FOR SYSTEMS BIOLOGY 401 TERRY AVE N SEATTLE WA 98109 RESEARCH 460156 UNIVERSITY OF CAMBRIDGE DEPT BIOCHEMISTRY TENNIS COURT RD CAMBRIDGE UK CB2 1QW RESEARCH 304410 22 306063 31430061 12903125 7738 44639249 RESEARCH SUPPORT SRVCS 541900 353374 353374 EDUCATION PROGRAM 611600 81405 81405 PROGRAM SERVICE FEES 541900 14083 14083 448862 131603 131603 2911 2911 2446842 41684 2405158 2405158 243129 2162029 2000 192 1808 1808 1808 24500 306063 49391 -24891 -24891 MISCELLANEOUS REVENUE 900099 5296 5296 5296 47609996 448862 243129 2278756 1812475 1061000 751475 16660101 15308497 1193883 157721 1267183 1084213 170187 12783 1566611 1506801 42216 17594 1206751 1032507 162070 12174 195313 80956 114357 96350 91277 5055 18 145307 145307 122967 122967 2773151 2586406 186337 408 25782 1300 20112 4370 30417 4525 25855 37 1312713 1117381 183911 11421 5981648 3444826 2517888 18934 290535 252919 32752 4864 186967 114301 67363 5303 97011 72606 24014 391 1511708 1328214 180639 2855 269301 144264 124666 371 SUBCONTRACTS 8146040 8146040 RESEARCH SUPPLIES 4777067 4720791 49001 7275 EQUIP. RENTAL & MAINT. 419082 377946 37730 3406 GRADUATE STUDENT FEES 214531 214531 988766 523563 420697 44506 50097777 43133908 6545081 418788 1900 5400 21201147 19862035 9868536 6150913 139164 155259 86148 198850 202684 106716 24758 24758 335908 569012 24264354 14776280 10170783 9488074 335712 684672 174757 93312 42541497 37339001 4704534 5932499 9137254 6989125 2608351 2059932 1198397 1081327 17648536 16062883 X 14367007 14697212 10525954 6578906 24892961 21276118 42541497 37339001 X -2487781 -1129062 X 0 1 1 X 1 1 X UNIVERSITY OF WASHINGTON MEDICAL CENTER SEATTLE WA WALTER REED ARMY INSTITUTE OF RESEARCH SILVER SPRING MD SCHEDULE A, PART IV, SUPPLEMENTAL INFORMATION: THESE HOSPITAL AFFILIATIONS ALLOW SEATTLE BIOMED TO QUALIFY AS A MEDICAL RESEARCH ORGANIZATION. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 122967 0 0 122967 0 EXPLANATION OF LOBBYING ACTIVITIES: PART II-B, LINE 1: SEATTLE BIOMED HIRED AN INDEPENDENT LOBBYIST TO LOBBY THE LEGISLATURE ON ISSUES INVOLVING THE ORGANIZATION'S MISSION. 11261461 5017543 6243918 12154375 8989793 3164582 848518 768944 79574 9488074 FAIR VALUE OF INTEREST RATE SWAP 44526 DEFERRED RENT LIABILITY 1036801 1081327 47609996 50097777 -2487781 -1129062 -1129062 -3616843 46713598 -948962 -948962 47662560 -52564 -52564 47609996 50330441 251944 251944 50078497 19280 19280 50097777 PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENT 51,038. RENTAL EXPENSE FROM 307 WESTLAKE, LLC 30,160. BOOK/TAX DIFFERENCE FROM INVESTMENT IN 307 WESTLAKE, LLC 41,684. LOSS ON PLEDGES RECEIVABLE -251,944. RETURNED GRANT FUNDS -1,000,000. TOTAL TO SCHEDULE D, PART XI, LINE 8: -1,129,062. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FAIR MARKET VALUE OF INTEREST RATE SWAP 51,038. RETURNED GRANT FUNDS -1,000,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: BOOK/TAX DIFFERENCE FROM INVESTMENT IN 307 WESTLAKE -30,160. RENTAL EXPENSE -41,684. SPECIAL EVENT DEDUCTIONS 19,280. PART XIII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON PLEDGES RECEIVABLE 251,944. PART XIII, LINE 4B - OTHER ADJUSTMENTS: INDIRECT SPECIAL EVENT DEDUCTIONS 19,280. EAST ASIA AND THE PACIFIC 5 PROGRAM SERVICES EMERGING INFECTIONS AND MALARIA 163175 EUROPE 18 PROGRAM SERVICES MALERIA, HIV AND TB 56397 SOUTH ASIA 2 PROGRAM SERVICES EMERGING INFECTIONS 18803 SUB-SAHARAN AFRICA 3 PROGRAM SERVICES MALARIA 267829 NORTH AMERICA ADMINISTRATIVE SERVICES 68372 SOUTH AMERICA 2 PROGRAM SERVICES VIRAL VACCINES 2127 0 30 0 0 0 30 576703 0 576703 0 0 0 0 0 0 METHOD USED TO ACCCOUNT FOR EXPENDITURES: SCHEDULE F, PART I, LINE 3: SEATTLE BIOMED DOES NOT MAINTAIN ANY FOREIGN OFFICES. SEATTLE BIOMED'S SUB-CONTRACTORS ARE PERFORMING RESEARCH ON BEHALF OF THE ORGANIZATION AROUND THE WORLD. THE ACCRUAL METHOD OF ACCOUNTING IS USED TO ACCOUNT FOR EXPENDITURES. PASSPORT DINNER 322893 299268 23625 6972 40200 HARAMBEE50-LUNCHEON 7670 6795 875 2219 330563 306063 24500 6972 42419 49391 -24891 X X X X X 0 0 0 0 0 0 0 0 0 KENNETH STUART PHD 294170 0 3950 0 0 0 24634 0 4102 0 326856 0 0 0 KAREN BLOCHLINGER PHD JD 156912 0 0 0 0 0 15765 0 4101 0 176778 0 0 0 ALAN ADEREM PHD 220949 0 0 0 0 0 22405 0 5885 0 249239 0 0 0 LYNN ZIMMERMAN 142078 0 0 0 0 0 14247 0 3524 0 159849 0 0 0 RANDAL HASSLER 194919 0 0 0 0 0 20060 0 9422 0 224401 0 0 0 LEONIDAS STAMATATOS PHD 167757 0 0 0 0 0 16979 0 4871 0 189607 0 0 0 IAN CRISPE MD PHD 183470 0 0 0 0 0 18548 0 6612 0 208630 0 0 0 STEFAN KAPPE PHD 143558 0 0 0 0 0 10310 0 6980 0 160848 0 0 0 PETER MYLER PHD 144057 0 0 0 0 0 14979 0 9422 0 168458 0 0 0 MARILYN PARSONS PHD 160115 0 0 0 0 0 16387 0 6612 0 183114 0 0 0 DAVID SHERMAN PHD 135832 0 0 0 0 0 14483 0 9422 0 159737 0 0 0 IAN CRISPE RESEARCH ASSISTANCE X 80000 88955 0 1 1 STEFAN KAPPE RESEARCH ASSISTANCE X 80000 109895 0 1 1 198850 FORM 990, PART I, LINE 6 VOLUNTEER ACTIVITY, INCLUDING NUMBER OF VOLUNTEERS AND HOURS CONTRIBUTED, ARE TRACKED AT EACH EVENT. INCLUDING BOARD MEMBERS TIME, TOTAL VOLUNTEER HOURS WERE 1,240. BOARD ENGAGEMENT REPRESENTS 92% OF VOLUNTEER HOURS AND THE REMAINING HOURS ARE FROM COMMUNITY MEMBERS ACTIVE WITH THE EDUCATION PIECE OF OUR MISSION. FORM 990, PART VI, SECTION B, LINE 11 THE RETURN WILL BE REVIEWED IN DETAIL BY THE SENIOR DIRECTOR OF FINANCE. IN ADDITION, THE 990 WILL BE PRESENTED TO THE FINANCE AND AUDIT COMMITTEE. A FINAL DRAFT WILL BE ELECTRONICALLY SENT TO ALL TRUSTEES OF SEATTLE BIOMED. OUR BOARD LIAISON WILL MONITOR THE DISTRIBUTION OF THE RETURN AND WILL COLLECT COMMENTS AND RESPONSES AND REPORT THESE TO THE CONTROLLER PROMPTLY. ANY PERTINENT RESPONSES WILL BE ADDRESSED AND RESOLVED BEFORE THE FINAL TAX RETURN IS FILED. FORM 990, PART VI, SECTION B, LINE 12C EACH TRUSTEE (AND ALL KEY EMPLOYEES) AND MEMBER OF A COMMITTEE WITH BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT SUCH PERSON HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY, AND AGREES TO COMPLY WITH THE POLICY. IF ANY KNOWN CONFLICTS ARISE, THEY ARE SENT TO THE EXECUTIVE COMMITTEE FOR RESOLUTION. A FOLLOWUP TO THE LEADERSHIP TEAM THEN OCCURS, IF NEEDED. PROCEDURES: 1. DUTY TO DISCLOSE: IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE AND NATURE OF HIS/HER FINANCIAL INTEREST TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES PRIOR TO CONSIDERATION OF THE PROPOSED TRANSACTION OR ARRANGEMENT AND MUST NOT ENTER INTO ANY ARRANGEMENT WHERE THERE IS AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST WITHOUT EXECUTIVE COMMITTEE APPROVAL. 2. DETERMINING WHETHER A CONFLICT OF INTEREST EXISTS: AFTER DISCLOSURE OF THE FINANCIAL INTEREST, THE INTERESTED PERSON SHALL RECUSE HIMSELF/HERSELF WHILE THE FINANCIAL INTEREST IS DISCUSSED AND VOTED UPON. THE EXECUTIVE COMMITTEE SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. 3. PROCEDURES FOR ADDRESSING THE CONFLICT OF INTEREST: A. THE EXECUTIVE COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. B. AFTER EXERCISING DUE DILIGENCE, THE BOARD OR COMMITTEE SHALL DETERMINE WHETHER SEATTLE BIOMED CAN OBTAIN A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT WITH REASONABLE EFFORTS FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. C. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY ATTAINABLE UNDER CIRCUMSTANCES THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST, THE BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED MEMBERS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN SEATTLE BIOMED'S BEST INTEREST AND FOR ITS OWN BENEFIT AND WHETHER THE TRANSACTION IS FAIR AND REASONABLE TO SEATTLE BIOMED AND SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT IN CONFORMITY WITH SUCH DETERMINATION. 4. VIOLATIONS OF THE CONFLICTS OF INTEREST POLICY: A. IF THE BOARD, A COMMITTEE, SEATTLE BIOMED STAFF OR A TRUSTEE HAS REASONABLE CAUSE TO BELIEVE THAT A TRUSTEE OR A COMMITTEE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER THE OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. B. IF, AFTER HEARING THE RESPONSE OF THE MEMBER AND MAKING SUCH FURTHER INVESTIGATION AS MAY BE WARRANTED IN THE CIRCUMSTANCES, THE EXECUTIVE BOARD DETERMINES THAT THE MEMBER HAS, IN FACT, FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION PLANNING AND REVIEW TAKES PLACE ANNUALLY. HUMAN RESOURCES PROVIDES MARKET DATA FOR EACH POSITION IN THE INSTITUTE. FOR SENIOR LEADERSHIP POSITIONS, SPECIFICALLY KEY EMPLOYEES, AN OUTSIDE COMPENSATION CONSULTANT BENCHMARKS THESE POSITIONS AND PROVIDES DATA AND ANALYSIS, WHICH ALLOWS US TO ESTABLISH A PAY RANGE FOR EACH OF THESE ROLES AT OUR INSTITUTE. WE ALSO GATHER INDUSTRY-SPECIFIC INFORMATION FROM OUR PEERS TO VALIDATE THE SURVEY INFORMATION AND TO ENSURE THAT WE REMAIN COMPETITIVE WITH OUR COMPENSATION. THIS INFORMATION IS GATHERED FROM LOCAL PEER ORGANIZATIONS IN OUR INDUSTRY AND/OR FROM PEER ORGANIZATIONS WHO ARE PART OF THE ASSOCIATION OF INDEPENDENT RESEARCH INSTITUTES (AIRI). THE MOST RECENT COMPENSATION REVIEW TOOK PLACE IN JANUARY 2012. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THE FINANCIAL STATEMENTS ARE ALSO AVAILABLE ON SEATTLE BIOMED'S WEBSITE. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENT 51,038. RENTAL EXPENSE FROM 307 WESTLAKE, LLC 30,160. BOOK/TAX DIFFERENCE FROM INVESTMENT IN 307 WESTLAKE, LLC 41,684. LOSS ON PLEDGES RECEIVABLE -251,944. RETURNED GRANT FUNDS -1,000,000. TOTAL TO FORM 990, PART XI, LINE 5: -1,129,062.