University at Albany Foundation

“The members of the corporation shall be the directors of the corporation. The members shall have all rights of members as specified in the new york state not-for-profit corporation law. The directors of the board shall consist of elected and ex officio directors.”

“Directors are elected as follows: 5 members from persons nominated by the alumni association board; 1 member from persons nominated by the benevolent association board; 10 members from persons nominated by the university president; 3 members, who are members of the university's faculty, from persons nominated by the university president; 1 member who is a member of the university's student body, from persons nominated by the university president; 30 at-large members from persons nominated by the board. Each director, including the ex officio directors, shall have the same powers and one vote on any matters before the board, except the executive director of the corporation, who shall have no vote.”

“Management provides a draft of form 990 to the audit committee for review prior to filing. The audit committee meets to comment on form 990 and any revisions will be discussed at that time. A complete copy of the organization's final form 990 (including all required schedules, as ultimately filed with the irs) was provided to each voting member of the board before its filing with the irs.”

“Every new director, officer or employee of the foundation is advised of the conflicts of interest policy upon entering the duties of office or employment. Any duality of interest on the part of any director or officer shall be disclosed to the audit committee chair for referral to the secretary for disclosure to the board of directors. Such disclosure shall be made a matter of record prior to the election of the director or officer, and annually thereafter, through a signed statement identifying any entity having a relationship with the corporation of which said director or officer is a director, trustee, member, owner, officer or employee, or, upon recognition of any other conflict, when the director or officer discovers that the corporation's interest may conflict with their own. In general, a director's or officer's conflict will be cleared of any consequence by, first, full disclosure and, second,approval or ratification of the subject action by a disinterested majority of directors. Any director or officer having a duality of interest shall not vote or 1) refrain from being present at or participating in the board or committee deliberation or vote on the matter giving rise to the conflict, 2) not be counted in the quorum for any such meeting, and 3) engage in no attempt to personally influence the outcome of the deliberation or vote. The minutes of the meeting shall reflect that a disclosure was made, the absence of the interested director or officer from the meeting and the quorum situation.”

“Compensation at the time of hiring is based on data for comparable positions at similar organizations. Compensation and wage increases are reviewed by the finance committee and approved by the executive committee through the annual budget process.”

“Compensation at the time of hiring is based on data for comparable positions at similar organizations. Compensation and wage increases are reviewed by the finance committee and approved by the executive committee through the annual budget process.”

“South carolina, utah, virginia, west virginia, wisconsin”

“The foundation makes organizational documents, conflict of interest policy, and financial statements available to the public through its own website and upon request.”

“Three members of the university at albany foundation (foundation) board are also paid employees of the university at albany (university). Those university employees do not receive compensation from the university because of their position on the foundation board. The number of university employees on the foundation board does not represent a controlling majority of the board.”

“The mission of the university at albany foundation is to encourage, receive, accept, hold, invest, and manage money and property of every description, and the disbursement thereof for the promotion, development and advancement of the welfare of the state university of new york at albany ("university"), its students, faculty, staff and alumni, and any other organization, qualified as an exempt organization under section 501(c)(3) of the code and its regulations, which has among its corporate purposes providing assistance to the university.”

“The unviversity at albany foundation (foundation) manages and invests a term-endowed fund on behalf of the research foundation for the state university of new york (the research foundation). Accordingly, the foundation reports an equal asset and liability on the balance sheet representing the fair value of investments managed on behalf of the research foundation.”