2023-07-12T06:32:49-05:00 2022-12-31 BDO USA PA 8401 GREENSBORO DRIVE 800 MCLEAN VA 22102 990 2022-01-01 526063009 PHARMACEUTICAL RESEARCH AND MANUFACTURERS OF AMERICA FDN INC % TRACEY MERCHANT PHAR 2025727755 950 F STREET Suite 300 WASHINGTON DC 20004 AMY MILLER PRESIDENT 2025727755 2023-07-10 true AMY MILLER XXX-XX-XXXX Marc Berger P01871563 7038930600 2 2022 2023-04-26 12:10:37Z AMY MILLER 950 F STREET300 WASHINGTON DC 20004 5432782 false X WWW.PHRMAFOUNDATION.ORG X 1965 DC SEE SCHEDULE O 10 10 3 86 0 0 2764822 3535607 0 0 928344 367035 0 0 3693166 3902642 2955757 2649027 0 0 806627 910758 0 0 3433 596039 518206 4358423 4077991 -665257 -175349 26230760 22787225 172489 1467134 26058271 21320091 X THE PHRMA FOUNDATION WORKS TO IMPROVE PUBLIC HEALTH BY PROACTIVELY INVESTING IN INNOVATIVE RESEARCH, EDUCATION AND VALUE-DRIVEN HEALTH CARE. false true 775815 620835 0 DRUG DISCOVERY - THE PROGRAM CONSIDERS THE PROCESS THROUGH WHICH POTENTIAL NEW MEDICINES ARE IDENTIFIED. THE EVOLVING PROCESS OF DRUG DISCOVERY SHOULD INCLUDE INNOVATIVE CULTURE-BASED AND ANIMAL-BASED EFFORTS THAT EMBRACE NEW CUTTING-EDGE TECHNOLOGY. THE AWARDS PROVIDE STIPEND SUPPORT FOR INDIVIDUALS ENGAGED IN A MULTIDISCIPLINARY RESEARCH TRAINING PROGRAM THAT WILL CREATE FOR EXTEND THEIR CREDENTIALS AND PROVIDE NEW SKILLS. 690499 497764 0 VALUE ASSESSMENT - INITIATIVE TO DEVELOP STRATEGIES TO BETTER ASSESS THE VALUE OF MEDICINES AND HEALTH CARE SERVICES WHILE IMPROVING PATIENT OUTCOMES AND REDUCING INEFFICIENCY IN HEALTH CARE. 627456 506250 0 DRUG DELIVERY - THE PROGRAM EMPHASIZES THE QUANTITATIVE UNDERSTANDING AND USE OF THE PRINCIPLES UNDERLYING DRUG TRANSPORT, ROUTE OF ADMINISTRATION, FORMULATION COMPOSITION, TECHNOLOGY DEVELOPMENT AND MANUFACTURING/ENGINEERING ASPECTS INTENDED TO IMPROVE DRUG PRODUCT SAFETY AND EFFICACY, INCLUDING PATIENT COMPLIANCE. 1496189 1024178 0 3589959 true true false false false false false false false false true false false false true true true false false false false false false false false false false true true true false false false false false false false false false false false false false false false false false true 19 0 true 3 true false false false false false false false false false false false false X 10 10 false false false false false true false true true false false true true true true true true true true false CA CT IL MD MA NJ NY NC PA X TRACEY MERCHANT 2025727755 950 F STREET NO 300 WASHINGTON DC 20004 X AMY MILLER PRESIDENT 37.5 0.0 X 367542 0 67332 JOANNE WESTPHAL DIRECTOR 37.5 0.0 X 163455 0 35816 EMILY ORTMAN SENIOR DIRECTOR 37.5 0.0 X 106642 0 35294 ANDREW PLUMP MD PHD CHAIRMAN 1.0 0.0 X X 0 0 0 IRIS LOEW-FRIEDRICH MD Treasurer 1.0 0.0 X X 0 0 0 GEORGE ADDONA PHD DIRECTOR 1.0 0.0 X 0 0 0 MICHAEL DOLSTEN MD PHD DIRECTOR (THRU 10/2022) 1.0 0.0 X 0 0 0 AIDA HABTEZION MD MSC FRCPC DIRECTOR 1.0 0.0 X 0 0 0 ARAN MAREE MB BCH MRCPI DIRECTOR 1.0 0.0 X 0 0 0 FIONA H MARSHAL PHD DIRECTOR (THRU 9/2022) 1.0 0.0 X 0 0 0 MAHA RADHAKRISHNAN MD DIRECTOR 1.0 0.0 X 0 0 0 JOHN C REED MD PHD DIRECTOR 1.0 0.0 X 0 0 0 DANIEL SKOVRONSKY MD PHD DIRECTOR 1.0 0.0 X 0 0 0 RUPERT VESSEY MA BM BCH DIRECTOR 1.0 0.0 X 0 0 0 LORI REILLY ESQ EX OFFICIO MEMBER 1.0 0.0 X 0 0 0 637639 0 138442 3 false true false O'Connor Consulting Services LLC 6507 Marjory Lane BETHESDA MD 20817 ACCOUNTING SERVICES 112675 Reservoir Communications Group LLC 607 14th Street NW Suite 675 WASHINGTON DC 20005 CONSULTING 120000 2 3535607 3535607 0 460897 460897 0 0 0 0 0 1436279 1530140 -93861 -93862 -93862 0 0 0 0 0 0 0 0 0 0 3902642 367035 59250 59250 2589777 2589777 0 0 434874 306303 128571 0 334365 235509 98856 52886 37250 15636 52017 36638 15379 36616 25790 10826 0 1274 1274 145295 145295 0 0 21342 21342 227692 210588 17104 16505 14455 2050 1681 1315 366 61362 46920 14442 0 0 12702 9872 2830 0 10122 10122 0 0 0 8760 6170 2590 BANK/PAYROLL CHARGES 7759 7759 0 DUES/PUBLICATIONS/PROJECTS 3712 279 3433 4077991 3589959 484599 3433 922819 2182721 0 0 0 0 386 0 0 0 0 0 0 0 0 0 18676 31531 27150 27150 25288879 20572973 0 0 0 0 0 0 0 0 26230760 22787225 153182 1421900 0 0 0 0 0 0 0 0 0 0 0 0 0 0 19307 45234 172489 1467134 X 26058271 21320091 0 0 26058271 21320091 26230760 22787225 X -175349 -4582942 20111 X X false true X true false X 3420500 2940620 3937859 2764822 3535607 16599408 0 0 3420500 2940620 3937859 2764822 3535607 16599408 10394438 6204970 540583 578459 477282 407496 460897 2464717 0 75259 144775 0 0 0 220034 19284159 0.32177 0.32563 X PART II, SECTION C, LINE 17A, FACTS AND CIRCUMSTANCES TEST: DURING 2022, THE ORGANIZATION CONTINUED TO TAKE MEASURES TO INCREASE ITS PUBLIC SUPPORT PERCENTAGE. THE ORGANIZATION CONCENTRATED EFFORTS ON CHAMPIONING ITS NEW, PATIENT-FOCUSED MISSION AND CONDUCING PATIENT-FOCUSED PROGRAMING TO ATTRACT NEW DONORS. ADDITIONALLY, MANAGEMENT HEALD A SERIES OF CALLS AND MEETINGS WITH POTENTIAL NEW SUPPORTERS THROUGHOUT THE YEAR. THE ORGANIZATION EXPANDED OFFERINGS TO PROVIDE EDUCATION TO THE GENERAL PUBLIC BY DEVELOPING A PUBLICLY AVAILABLE WEBINAR SERIES ON WRITING, CAREER PATHS, AND HOW TO APPLY FOR FEDERAL AND FOUNDATION GRANTS. THE ORGANIZATION'S BOARD OF DIRECTORS CONSISTS OF RESEARCH AND DEVELOPMENT EXECUTIVES AND CHIEF MEDICAL OFFICERS, ALL OF WHOM HAVE SPECIALIZED KNOWLEDGE AND EXPERTISE IN THE FIELD OF PHARMACEUTICAL RESEARCH AND VALUE ASSESSMENT AND HEALTH OUTCOMES RESEARCH. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 27150 27150 0 0 0 INTERCOMPANY SETTLEMENT 45234 45234 X -610931 -4582942 70600 20111 -4492231 3881300 21342 21342 3902642 4127249 70600 70600 4056649 21342 21342 4077991 SCHEDULE D, PART X, LINE 2: MANAGEMENT HAS EVALUATED THE FOUNDATION'S TAX POSITIONS AND CONCLUDED THAT THE FOUNDATION HAS NOT TAKEN ANY UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS. AT A MINIMUM, THE TAX PERIODS ENDED DECEMBER 31, 2019 AND LATER ARE OPEN FOR EXAMINATION BY TAXING AUTHORITIES. SCHEDULE D, PART XI, LINE 2D: GRANT REFUNDS $20,111 true American FDN for Pharmaceutical EduCATION 11325 Random Hills Road SUITE 360A-105 Fairfax VA 22030 530214882 501(C)(3) 11000 AFPE PRE DOCTORAL FELLOWSHIP A & J CONSULTING - MARYLAND LLC 313 S Collington Ave Baltimore MD 21231 465318329 7500 VACA Challenge Award The Tower Foundation of San Jose State University One Washington Sq San Jose CA 951920183 830403915 501(C)(3) 7500 VACA Challenge Award Sick Cells 1042 Maple Ave Suite 103 Lisle IL 60532 813481633 501(c)(3) 7500 VACA Challenge Award Oregon Health and Science University PO Box 3003 Portland OR 972083003 931176109 Govt Agency 7500 VACA Challenge Award Thomas Jefferson University 1101 Market Street Philadelphia PA 19107 231352651 501(C)(3) 7500 VACA Challenge Award 5 1 Pharmacology & Toxicology 3 50000 Pharmaceuticals 1 2948 Health Outcomes 16 502980 Informatics 3 31250 Translational Medicine 9 420000 Value Assessment 7 455514 Drug Delivery 12 506250 Drug Discovery 18 620835 SCHEDULE I, PART I, LINE 2: THE GRANTS AND FELLOWSHIPS ARE AWARDED WITH INFORMATION ON HOW THE FUNDS MAY BE SPENT AND ADMINISTERED. THE SECOND YEAR OF FUNDING, IF APPLICABLE, IS CONTINGENT UPON A SATISFACTORY REVIEW OF THE AWARD RECIPIENT'S PROGRESS DURING THE FIRST TEN MONTHS OF FUNDING. A PROGRESS REPORT IS DUE TO THE FOUNDATION PRIOR TO THE BEGINNING OF THE SECOND YEAR OF FUNDING. THE PROGRESS IS ASSESSED BY THE ADVISORY COMMITTEE. THE DECISION TO CONTINUE THE FUNDING IS BASED ON ADHERENCE TO THE GOALS OF THE ANNOUNCEMENT OF THE OVERALL PROGRAM, AND ALSO IN KEEPING WITH THE ORIGINALLY PROPOSED RESEARCH ON WHICH THE AWARD WAS BASED. IN ADDITION TO THE PROGRESS REPORT, THE FOUNDATION MUST RECEIVE CERTIFICATION FROM THE THESIS ADVISOR THAT SATISFACTORY PROGRESS IS BEING ACHIEVED IF IT IS THE PRE DOCTORAL FELLOWSHIP. A FINANCIAL REPORT IS ALSO DUE TO THE FOUNDATION AFTER THE FIRST YEAR OF FUNDING AND FOLLOWING THE END OF THE FUNDING PERIOD FOR ALL AWARDS. THE INSTITUTION MUST STIPULATE THE AMOUNT OF FUNDS RECEIVED BY THE UNIVERSITY, HOW THE FUNDS HAVE BEEN USED/SPENT AND IF THERE IS A REMAINING BALANCE ON THE ACCOUNT. SCHEDULE I, PART III: CLINICAL PHARMACOLOGY AWARDS-THE INTENT OF THESE PROGRAMS IS TO GENERATE INTEREST IN RESEARCH CAREERS IN PHARMACOLOGY, INCLUDING CLINICAL PHARMACOLOGY, AMONG MEDICAL AND DENTAL STUDENTS BY SUPPORTING FELLOWSHIPS. PHARMACOLOGY/TOXICOLOGY AWARDS SUPPORT CAREER DEVELOPMENT ACTIVITIES OF SCIENTISTS PREPARED TO ENGAGE IN RESEARCH THAT INTEGRATES INFORMATION ON MOLECULAR OR CELLULAR MECHANISMS OF ACTION WITH INFORMATION ON THE EFFECTS OF AN AGENT OBSERVED IN AN INTACT ORGANISM. PHARMACEUTICS AWARDS SUPPORT YOUNG SCIENTISTS WITH STIPEND AND RESEARCH SUPPORT. PHARMACEUTICS IS THAT AREA OF BIOMEDICAL AND PHARMACEUTICAL SCIENCES THAT DEALS WITH DRUG DELIVERY SYSTEMS, IN PARTICULAR THE DESIGN AND EVALUATION OF CONTEMPORARY SYSTEMS, IN PARTICULAR THE DESIGN AND EVALUATION OF CONTEMPORARY PHARMACEUTICAL DOSAGE FORMS SO THAT THEY ARE SAFE, EFFECTIVE, AND RELIABLE. HEALTH OUTCOMES-OUTCOMES RESEARCH SPANS A BROAD SPECTRUM OF ISSUES FROM STUDIES EVALUATING THE EFFECTIVENESS OF A PARTICULAR PHARMACEUTICAL INTERVENTION TO THE IMPACT OF REIMBURSEMENT. THIS PROGRAM SUPPORTS YOUNG SCIENTISTS WITH STIPEND AND RESEARCH SUPPORT. INFORMATICS-THE GOAL IS TO PROMOTE THE USE AND DEVELOPMENT OF INFORMATICS IN AN INTEGRATIVE APPROACH TOWARDS THE UNDERSTANDING OF HUMAN BIOLOGICAL AND DISEASE. THIS PROGRAM SUPPORTS YOUNG SCIENTISTS WITH STIPEND AND RESEARCH SUPPORT. TRANSLATIONAL MEDICINE IS A DISCIPLINE FOCUSED ON BRIDGING EXPERIMENTAL AND COMPUTATIONAL TECHNOLOGIES AND DISCOVERIES IN THE RESEARCH LABORATORY TO THEIR APPLICATION IN CLINICAL PRACTICE. THESE AWARDS WILL ADVANCE TRAINING AND SUPPORT CAREER DEVELOPMENT OF SCIENTISTS ENGAGED IN RESEARCH THAT SIGNIFICANTLY INTEGRATES CUTTING-EDGE TECHNOLOGIES WITH ADVANCED BIOLOGICAL, CHEMICAL, AND PHARMACEUTICAL RESEARCH AND MANUFACTURERS OF AMERICA FND, INC. 52-6063009 PHARMACOLOGICAL SCIENCES AND ENGINEERING METHODOLOGIES. VALUE ASSESSMENT - INITIATIVE TO DEVELOP STRATEGIES TO BETTER ASSESS THE VALUE OF MEDICINES AND HEALTH CARE SERVICES WHILE IMPROVING PATIENT OUTCOMES AND REDUCING INEFFICIENCY IN HEALTH CARE. DRUG DELIVERY - THE PROGRAM EMPHASIZES THE QUANTITATIVE UNDERSTANDING AND USE OF THE PRINCIPLES UNDERLYING DRUG TRANSPORT, ROUTE OF ADMINISTRATION, FORMULATION COMPOSITION, TECHNOLOGY DEVELOPMENT AND MANUFACTURING/ENGINEERING ASPECTS INTENDED TO IMPROVE DRUG PRODUCT SAFETY AND EFFICACY, INCLUDING PATIENT COMPLIANCE. DRUG DISCOVERY - THE PROGRAM CONSIDERS THE PROCESS THROUGH WHICH POTENTIAL NEW MEDICINES ARE IDENTIFIED. THE EVOLVING PROCESS OF DRUG DISCOVERY SHOULD INCLUDE INNOVATIVE CULTURE-BASED AND ANIMAL-BASED EFFORTS THAT EMBRACE NEW CUTTING-EDGE TECHNOLOGY. THE AWARDS PROVIDE STIPEND SUPPORT FOR INDIVIDUALS ENGAGED IN A MULTIDISCIPLINARY RESEARCH TRAINING PROGRAM THAT WILL CREATE FOR EXTEND THEIR CREDENTIALS AND PROVIDE NEW SKILLS. X X false false false false false false false false false AMY MILLER PRESIDENT 329399 0 36373 0 1770 0 30500 0 36832 0 434874 0 0 0 JOANNE WESTPHAL DIRECTOR 141138 0 19558 0 2759 0 16715 0 19101 0 199271 0 0 0 FORM 990, PART I, LINE 1: DESCRIPTION OF ORGANIZATION MISSION THE PHRMA FOUNDATION WORKS TO IMPROVE PUBLIC HEALTH BY PROACTIVELY INVESTING IN INNOVATIVE RESEARCH, EDUCATION AND VALUE-DRIVEN HEALTH CARE. FORM 990, PART III, LINE 3: CLINICAL PHARMACOLOGY PROGRAM ENDED; 2021 WAS FINAL YEAR OF AWARDS PAYOUT FOR THIS PROGRAM. FORM 990, PART III, LINE 4D: OTHER PROGRAM SERVICES HEALTH OUTCOMES - OUTCOMES RESEARCH SPANS A BROAD SPECTRUM OF ISSUES FROM STUDIES EVALUATING THE EFFECTIVENESS OF A PARTICULAR PHARMACEUTICAL INTERVENTION TO THE IMPACT OF REIMBURSEMENT. THIS PROGRAM SUPPORTS YOUNG SCIENTISTS WITH STIPEND AND RESEARCH SUPPORT. EXPENSES $ 621,029. GRANTS $ 502,980. REVENUE $ 0. TRANSLATION MEDICINE IS A DISCIPLINE FOCUSED ON BRIDGING EXPERIMENTAL AND COMPUTATIONAL TECHNOLOGIES AND DISCOVERIES IN THE RESEARCH LABORATORY TO THEIR APPLICATION IN CLINICAL PRACTICE. THESE AWARDS WILL ADVANCE TRAINING AND SUPPORT CAREER DEVELOPMENT OF SCIENTISTS ENGAGED IN RESEARCH THAT SIGNIFICANTLY INTEGRATES CUTTING-EDGE TECHNOLOGIES WITH ADVANCED BIOLOGICAL, CHEMICAL, AND PHARMACOLOGICAL SCIENCES AND ENGINEERING METHODOLOGIES. EXPENSES $ 524,893. GRANTS $ 425,000. REVENUE $ 0. PHARMACEUTICS AWARDS SUPPORT YOUNG SCIENTISTS WITH STIPEND AND RESEARCH SUPPORT. PHARMACEUTICS IS THAT AREA OF BIOMEDICAL AND PHARMACEUTICAL SCIENCES THAT DEALS WITH DRUG DELIVERY SYSTEMS, IN PARTICULAR THE DESIGN AND EVALUATION OF CONTEMPORARY SYSTEMS, IN PARTICULAR THE DESIGN AND EVALUATION OF CONTEMPORARY PHARMACEUTICAL DOSAGE FORMS SO THAT THEY ARE SAFE, EFFECTIVE, AND RELIABLE. EXPENSES $ 3,640. GRANTS $ 2,948. REVENUE $ 0. INFORMATICS - THE GOAL IS TO PROMOTE THE USE AND DEVELOPMENT OF INFORMATICS IN AN INTEGRATIVE APPROACH TOWARDS THE UNDERSTANDING OF HUMAN BIOLOGICAL AND DISEASE. THIS PROGRAM SUPPORTS YOUNG SCIENTISTS WITH STIPEND AND RESEARCH SUPPORT. EXPENSES $ 38,584. GRANTS $ 31,250. REVENUE $ 0. PHARMACOLOGY/TOXICOLOGY AWARDS SUPPORT CAREER DEVELOPMENT ACTIVITIES OF SCIENTISTS PREPARED TO ENGAGE IN RESEARCH THAT INTEGRATES INFORMATION ON MOLECULAR OR CELLULAR MECHANISMS OF ACTION WITH INFORMATION ON THE EFFECTS OF AN AGENT OBSERVED IN AN INTACT ORGANISM. EXPENSES $ 61,735. GRANTS $ 50,000. REVENUE $ 0. OTHER PROGRAMS EXPENSES $ 246,308. GRANTS $ 12,000. REVENUE $ 0. FORM 990, PART VI, SECTION A, LINE 7A: THE CHIEF OPERATING OFFICER OF THE PHARMACEUTICAL RESEARCH AND MANUFACTURERS OF AMERICA (PHRMA), A SECTION 501(C)(6) TRADE ASSOCIATION THAT HAS A HISTORIC AND CONTINUING RELATIONSHIP WITH THE FOUNDATION, IS AN EX-OFFICIO MEMBER OF THE FOUNDATION'S BOARD OF DIRECTORS. FOUNDATION DIRECTORS MUST BE RESEARCH AND DEVELOPMENT EXECUTIVES OR CHIEF MEDICAL OFFICERS OF COMPANIES THAT ARE MEMBERS OF PHRMA, BUT ARE ELECTED BY THE FOUNDATION BOARD ITSELF. FORM 990, PART VI, SECTION B, LINE 11B: THE FOUNDATION FORM 990 IS PREPARED BY BDO USA LLP, CPAS, AND REVIEWED INTERNALLY BY KEY FINANCIAL MANAGEMENT AND THE FOUNDATION'S PRESIDENT. A COPY OF THE 990 IS PROVIDED TO THE BOARD OF DIRECTORS TO REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C: ALL DIRECTORS, OFFICERS AND KEY EMPLOYEES OF THE FOUNDATION MUST REPORT POTENTIAL AND ACTUAL CONFLICTS AS THEY ARISE. IN ADDITION, THEY ARE REQUIRED TO SIGN AN ANNUAL CONFLICT OF INTEREST DISCLOSURE STATEMENT. WHEN A POTENTIAL CONFLICT OF INTEREST IS DISCLOSED TO, OR OTHERWISE COMES TO THE ATTENTION OF, THE PRESIDENT, THE CHAIR OF THE BOARD OR A NON-AFFECTED DIRECTOR, HE OR SHE SHALL CONSIDER ALL THE RELEVANT CIRCUMSTANCES AND SHALL DETERMINE WHETHER THE ARRANGEMENT IS POTENTIALLY HARMFUL TO THE BEST INTERESTS OF THE FOUNDATION. IF THE ARRANGEMENT IS FOUND NOT TO BE HARMFUL, THEN THE ARRANGEMENT MAY BE AUTHORIZED OR APPROVED; OTHERWISE, THE DIRECTOR, OFFICER OR KEY EMPLOYEE WHO IS INVOLVED OR EXPECTS TO BE INVOLVED IN THE ARRANGEMENT SHALL BE NOTIFIED THAT THE ARRANGEMENT IS NOT AUTHORIZED OR APPROVED AND, IF ALREADY IN EXISTENCE, SHOULD BE TERMINATED. THE PRESIDENT SHALL AUTHORIZE OR APPROVE AN ARRANGEMENT ONLY AFTER CONSULTING WITH THE CHAIR OF THE BOARD. THE CHAIR OF THE BOARD SHALL AUTHORIZE OR APPROVE AN ARRANGEMENT ONLY UPON A VOTE OF A MAJORITY OF UNINVOLVED DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15: MERIT RAISES AND BONUSES ARE DETERMINED IN ACCORDANCE WITH PHRMA POLICY BASED ON STAFF EVALUATIONS, AND RECOMMENDATIONS ARE FORWARDED TO THE PRESIDENT FOR REVIEW. OVERALL PERFORMANCE OF THE PRESIDENT OF THE FOUNDATION, INCLUDING MERIT RAISES AND BONUSES, IS ALSO DETERMINED IN ACCORDANCE WITH PHRMA POLICY BASED ON STAFF EVALUATIONS BY THE EX-OFFICIO MEMBER OF THE FOUNDATION BOARD. THIS EVALUATION IS FORWARDED AS ARE RECOMMENDATION TO THE CHAIRMAN AND VICE CHAIR OF THE FOUNDATION BOARD FOR FINAL APPROVAL OF THE PRESIDENT'S PERFORMANCE, INCLUDING COMPENSATION/BONUS. FORM 990, PART VI, SECTION C, LINE 19: THE FOUNDATION DOES NOT MAKE ITS GOVERNING DOCUMENTS OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: GRANT REFUNDS $20,111 FORM 990, PART XII, LINE 2C: THE AUDIT OVERSIGHT PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.