| Form 990, Part VI, Section A, Line 6 |
On July 1, 2013 the Laboratory entered into an affiliation agreement with the University of Chicago (the University) located in Chicago, Illinois. Under this affiliation the University became the sole member of the Laboratory. The University of Chicago as sole member has the right to exercise all powers conferred on members of non-profit corporations under Massachusetts General Laws Chapter 180, and also has certain reserved powers to approve or disapprove of certain fundamental decisions concerning the Corporation. |
| Form 990, Part VI, Section A, Line 7a |
The University as sole member has the power to appoint and remove members of the Board Directors. |
| Form 990, Part VI, Section A, Line 7b |
The University of Chicago as sole member has the power to take certain actions with respect to the MBL after prior consultation with the MBL's Board of Directors, and the power to approve or disapprove certain actions taken by the MBL. |
| Form 990, Part VI, Section B, Line 11b |
Prior to filing the Form 990, members of the Executive Committee and Audit Committee of the Laboratory's Board of Trustees were given an opportunity to review portions of the Form 990 relevant to the areas of oversight of those trustees to allow them to review the form, provide comments, and ask any questions. Information about accessing the website was distributed in advance to all trustees. The draft form remained available on the website for approximately one week, after which online access ended to allow the Laboratory time to finalize the Form 990 and Form 990T for filing with the IRS. |
| Form 990, Part VI, Section B, Line 12c |
All Trustees, Officers, Faculty, Senior Administrators, and other employees of the laboratory are subject to conflict of interest policies that among other things, define material financial disclosure of information, and specify procedures to be followed in managing these conflicts. The Laboratory's Conflict of Interest Policies (COI) for Trustees and Officers, requires disclosure whenever a Trustee or a related party engages in an activity that could be considered a conflict of interest. Trustees are reminded that questions regarding the conflict of interest policy may be raised informally and confidentially at any time with the Chair of the Board of Trustees, the Chair of the Nominating and the Governance Committee, or the University of Chicago's Vice President and General Counsel. All trustees must annually disclose actual and potential conflicts of interest by completing a confidential Conflict of Interest Disclosure Statement (COI) and acknowledgement, and these disclosures must be updated as new information becomes available that could affect the Trustee's stated interests. The University of Chicago's Vice President and General Counsel, in consultation with the Nominating and Governance Committee and senior laboratory administration, will compile the disclosures into a confidential database and prepare for each Trustee a written acknowledgement of the disclosure that identifies any pending Laboratory transactions that may be affected by the disclosure. The Chair of the Board of Trustees will also review all disclosed potential conflicts of interest before making Board committee assignments. Regardless of these efforts, Trustees must be alert to any and all potential conflicts. To the extent that a potential conflict has not been addressed, it should be brought to the immediate attention of the Chair of the Board, the Chair of the Nominating and Governance Committee or the University of Chicago's Vice President and General counsel. The Trustee should also abstain from participating in or voting on the matter. Actions in this regard will be reflected in any official meeting minutes. The Laboratory requires that employees (MBL staff members) complete a Conflict of interest (COI) statement annually. The statement is reviewed by the Human Resource Director and the Director, Division of Research. If it is felt there may be a conflict of interest on any of the statements it is brought to the attention of the MBL Compliance Committee for resolution. Any MBL staff member who is or is to be involved in a MBL business transaction in which a potential for conflict of interest may exist, is required to report such potential conflict to the Chief Operating Officer. The MBL shall take action to assure that the transaction, if it is to proceed, is on fair and reasonable terms and in the best interest of the Laboratory. Someone other than the individual with the conflict must initiate the resolution for action and make the necessary decisions and control the transaction(s). The individual with the conflict must recuse themselves from the decision-making process. |
| Form 990, Part VI, Section C, Line 19 |
The conflict of interest policy is available on MBL's website. Financial statements are available upon request to the Director of Finance. |
| Form 990, Part XI, Line 9 |
Add back the change in value of the interest rate swap of $2,006,986 and the change in value of the post retirement health plan of $625,283. Deduct the change in value of the annuities of $7,763. Deduct FY17 special event expense of $9,906 posted in FY16. Deduct FY17 special event revenue of $ $21,241 posted in FY16 for FY17 and deduct imputed income of $26,272. |
Attach to Form 990 or 990-EZ.