The University of Connecticut Foundation

“Explanation of delegated broad authority to committee the foundation board has given the executive committee that consists of the chair, the chair of the nominating and board governance committee, the president of the corporation, the president of the university, and three or more at-large board members, full power and authority as the board. The executive committee may meet and exercise all such powers and authority in the interim between the meetings of the board. The executive committee may not fill board vacancies, amend certificate of incorporation, adopt, amend, or repeal bylaws, approve a plan of merger, approve a sale, lease, exchange, or other disposition of all, or substantially all, of the property of a corporation, or approve a proposal to dissolve the corporation.”

“Form 990 review process the form is prepared by grant thornton advisors llc and reviewed by management and the foundation's audit committee. The form is provided to the entire board before it is filed.”

“Explanation of monitoring and enforcement of conflicts annually, the foundation's board members, officers, and employees are sent a copy of the foundation's conflict of interest questionnaire that they are required to complete and return to the foundation. The responses are then reviewed by the foundation's in-house legal counsel, with any potential conflicts reviewed with the nominating and governance committee of the board and the full board as appropriate.”

“Compensation review & approval process - ceo & top management the foundation's salary structure is market-driven and undergoes a rigorous, periodic review under which compensation levels are compared to organizations of similar size and mission. The salaries and benefits of the uconn foundation's officers and key employees are subject to approval in advance of payment by a majority of disinterested directors on the executive committee of the board of directors. The officers and key employees are not in a position of control with respect to the committee. The committee relies on appropriate comparability data in determining the reasonableness of the compensation packages. Minutes adequately documenting the basis for the executive committee's decisions are maintained. The approval of compensation packages occurs in may or june for compensation to be paid in the subsequent fiscal year, or as necessary.”

“Other organization documents publicly available the foundation's financial statements and conflict of interest policy are posted on the foundation's website. The foundation's articles of incorporation, irs determination letter, and bylaws are available upon request.”

“Jonathan greenblatt was compensated in calendar year 2024 for his role related to interim president and ceo, not his role as director. Directors are not compensated for board service. Mr. Greenblatt received no compensation in fiscal year 2025.”

“Organization mission or significant activities to operate exclusively for charitable and educational purposes, all for the public welfare, and to this end to promote, encourage and assist all forms of education, healthcare and research at the university of connecticut, including without limitation, the university of connecticut health center; to solicit donations of, accept and receive properties, moneys or securities by virtue of gift, grant, bequest, devise or otherwise, and to hold, control, administer, invest, reinvest, accumulate, and generally care for any and all funds and property, real and personal, which from time to time may be given, granted, bequeathed, devised or otherwise conveyed or made available to the corporation either unconditionally, upon condition or in trust for specified purposes within the limitations of this certificate of incorporation; and to disburse such funds and property, or the income therefrom, in aiding, supplementing, improving and enlarging the educational, cultural, recreational, healthcare and research facilities and activities of the university of connecticut, including without limitation, the university of connecticut health center.”

“Endowed chairs and professorships - the university of connecticut foundation, inc. Received gifts on behalf of donors restricted to support of university of connecticut faculty compensation and research. To ensure compliance with all university and state personnel policies and for w-2 reporting purposes, the university pays all faculty directly for compensation related items. After receiving appropriate documents from the university, the foundation provides grants to the university to fund faculty compensation expenditures. For non-compensation expenditures in support of faculty (e.g. Research materials and equipment), generally the expenditures is made to the vendor directly by the university with the foundation then providing a grant to the university to fund the expenditure after receiving appropriate documentation. Occasionally, the foundation will pay vendor directly.”

“Bad debt expense -977,835.”