SIBCR was established under 38 USC §§7361-7366. Section 7366 requires that each VA-affiliated institution submit an annual report to the VA with specific information provided. The report includes information for both research and education revenue and expenditures. The report also includes copies of the Institute’s IRS Form 990 and annual audited financial statements.
SIBCR also assists the VAPSHCS R&D office in submitting the annual Research and Development Information System (RDIS) Report on Expenditures, which is due for the government fiscal year October 1 through September 30. This report lists expenditure data for all projects.
UW School of Medicine requests an annual report of expenditures by project for all University faculty. The report includes the sponsoring organization.
SIBCR also has to maintain its status as a state-incorporated nonprofit and files a report annually with the Washington Secretary of State for the Nonprofit Corporation Registration.
The state also requires an annual filing with the Charities Division of the Secretary of State to maintain the registration as a state charitable trust, and separately, another annual registration for Charitable Solicitations.