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PRISME Business Meeting

PRISME Business Meeting. Agenda. Administrative Support Membership Update Legal Update Finance Update Election of Officers. Administrative Support. Program Coordinator. John Wise has been contracted by PRISME from September 1, 2011 until August 31, 2012 Program coordinator role includes:

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PRISME Business Meeting

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  1. PRISME Business Meeting

  2. Agenda • Administrative Support • Membership Update • Legal Update • Finance Update • Election of Officers

  3. Administrative Support

  4. Program Coordinator • John Wise has been contracted by PRISME from September 1, 2011 until August 31, 2012 • Program coordinator role includes: • Maintain and keep up-to-date the PRISME Forum web-site (http://www.prismeforum.org) • Support SIG program development • Support agenda development for the PRISME Forum meeting • Support financial transition • Draft and publish PRISME whitepapers • Take minutes during Steering committee meetings, SIGs, and PRISME Forum meetings

  5. Meeting Planning and Support • World Events Forum has been contracted by PRISME from September 10, 2011 until September 9, 2012 • Meeting Planning role includes: • Provide general meeting planning services • Work with host member to provide meeting facilities • Negotiate a hotel rate for accommodation • Assist in selection and negotiation of group dinner venues • Work with PRISME members regarding their travel logistics • Assist with preparation of meeting materials • Ensure annual membership invoicing and collection guided by the secretary/treasurer

  6. Membership Update

  7. PRISME Forum Members • Abbott • Amgen • AstraZeneca • Biogen Idec • BMS • Daiichi Sankyo • Eli Lilly • Genentech • GSK • Ipsen • J&J • Lundbeck • Merck • Novo Nordisk • Novartis • Novartis Vaccines and Diagnostics • Pfizer • Roche • Sanofi-Aventis • UCB

  8. Emeritus Members • The following individuals are Emeritus Members • Ron Fitzmartin • Errol Sandler • Uwe Trinks • John Wise

  9. Awarding of Emeritus Member Status • Emeritus status is awarded by the Steering Committee • Is a significant award for years of service • Expectation that member remains active

  10. Legal and Tax Status Update

  11. Legal and Tax Status • Incorporate and register in a state (Missouri) as a non-profit • Limit liability of officers • Re-petition with IRS required for non-profit status • Articles of Incorporation • By non-profit specializing lawyer from Thomson&Coburn • Developed from our “charter” • Articles, Charter/by-laws have been distributed to members, vote needed to approve, 2/3 members vote, majority rules • Needed legalities added- limit liability, member proposals

  12. Next Steps Assuming Affirmative Vote • File Articles of Incorporation • Petition IRS for “exemption” for new PRISME • File PRIME tax return in November • Once exemption approved, can make accounts, etc.

  13. Finance Update

  14. (Very) Pro-Forma Numbers-USD in thousands thru EOY 2011 COH: $150 Boston Mtg expense $30 Support $10 Travel etc $15 Legal & auditor fees $05 EOY COH: $90 Dues @$4k/member recommended for 2012 subject to actual results – 17 members

  15. Bank Accounts • Commerce Bank – Prime • PayPal – PRISM • UBS - PRISM

  16. Transition Plan • Use PRIME’s Commerce Bank account for the PRISME Forum • Could require a new account depending on whether we can use current tax-id after re-petition with IRS • Closed PRISM’s PayPal account and moved funds to UBS • When registration complete and exemption granted, funds to merge in to PRISME at Commerce Bank • Officers (Chair and Sec/Treas) co-signees

  17. Additional Fund Raising • Continuation of current fee structure for SIG participation • 2 representatives of each member company can attend a PRISME Forum SIG for free • Presenters and other contributors may attend the meeting for free • SIG Sponsorship • In the past, PRISM had vendors sponsor SIG meetings

  18. Officers Update

  19. Current Status • Current Chair, Treasurer/Secretary, and Steering Committee are standing until Spring 2012

  20. Officer Election Process • A Chairperson (the “Chair”) will be appointed from the Membership by a majority vote of the Members for a two-year term • A Secretary/Treasurer will be appointed upon nomination by the Chair and vote of the Membership for a two-year term coextensive with the term of the Chair • The Steering Committee will be chaired by the PRISME Chair. Members for the Steering Committee will be selected by the Chair in consultation with the membership

  21. Officer Qualification • To be selected to the Steering Committee a Member must have been an active participant in PRIME/PRISM/PRISME, and must either represent a pharma/biotech or be a Member Emeritus. • To be elected Chair a Member must have been an active participant in PRIME/PRISM/PRISME for 2 years, must have served on the Steering Committee, and must either represent a pharma/biotech or be a Member Emeritus

  22. Officer Election Process • Please submit nominations for new officers during this meeting, or by email • Self-nominations are strongly encouraged! • New Chair will be elected at the beginning of the Spring meeting • Secretary/Treasurer and Steering Committee will be selected by the end of the Spring Meeting

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