The Ku Endowment Charitable Gift Fund

“The directors of the KU Endowment Charitable Gift Fund (The "Fund") serve in a voluntary capacity and receive no compensation. The fund currently has no paid employees; however, its officers are also officers of, and receive compensation from, The Kansas University Endowment Association ("KU Endowment"). The bylaws of the fund outline the following policy, which would apply if any compensation were to be paid in the future: officers and employees of the fund shall receive reasonable and necessary salaries for their services. Such salaries shall be determined by the compensation committee and be confirmed by the board. The board may adjust salaries determined by the compensation committee whenever, in its judgment, the best interests of the fund would be served thereby. The compensation committee must consist of individuals who (I) do not have a conflict of interest with respect to compensation arrangements or transactions; (II) have obtained and relied upon appropriate data as to comparability prior to making any determination, and (III) adequately document the basis for committee decisions concurrently with making determinations. The committee is directed to act in a manner that will avoid the intermediate sanctions provisions of the Internal Revenue Code.”

“The Kansas University Endowment Association, a Kansas not-for-profit corporation, is the only voting member.”

“The Kansas University Endowment Association, as the sole voting member, reserves the power to elect or remove directors.”

“Any of the following actions to be taken by the board of directors of The KU Endowment Charitable Gift Fund (the "Fund") shall be subject to the approval of the member: (A) election or removal of directors; (B) amendment of the articles of incorporation; (C) amendment of the bylaws; (D) liquidation or dissolution of the fund, or disposition of all, or substantially all, of the assets of the fund, or any merger of the fund into or with another corporation.”

“Upon completion of review by an external tax preparer, a draft copy of Form 990 is provided to the directors and officers to review and recommend revisions. Any such recommendations are provided in time to make the necessary revisions before transmitting the return to the internal revenue service.”

“The directors and officers of The KU Endowment Charitable Gift Fund (the "Fund") are also trustees of the supported organization, The Kansas University Endowment Association ("KU Endowment"), which by contract, manages the accounting of the organization. The Fund has adopted and operates under the same conflict of interest policy as KU Endowment, which is as follows: 1. Duty to Disclose a. In connection with any actual or possible conflicts of interest, an interested person must promptly disclose the existence and all material facts about the nature of his or her financial interests to the Executive Committee or the other members of committees with Executive Committee-delegated powers prior to such committee authorizing or approving KU Endowment or one of its subsidiaries entering into or negotiating a proposed transaction or arrangement. b. Unless previously disclosed in accordance with this Policy, in connection with any actual or possible conflicts of interest, an interested person must promptly disclose the existence and all material facts about the nature of his or her financial interests to the Executive Committee or the President of KU Endowment whenever such person becomes aware that (i) KU Endowment or one of its subsidiaries already has an existing transaction or arrangement in which such interested person has or is acquiring a financial interest or (ii) the Executive Committee, a committee with Executive Committee-delegated authority or any officer of KU Endowment or one of its subsidiaries is deliberating about or deciding whether to take an action or to refrain from taking an action with respect to a transaction or arrangement with respect to which such interested person has a financial interest. 2. Determining Whether a Conflict of Interest Exists After disclosure of the financial interest, the interested person shall leave, or not attend, as the case may be, any portion of a meeting of the Executive Committee or committee with Executive Committee-delegated powers while the financial interest is discussed and voted upon by the remaining members of such committee. The remaining Executive Committee members or committee members, as the case may be, shall decide if a conflict of interest exists and, if so, will address it. 3. Procedures for Addressing the Conflict of Interest a. The chairperson of the Executive Committee or committee with Executive Committee-delegated powers shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement or, in the case of an existing transaction or arrangement, taking or refraining from taking action with respect to such existing transaction or arrangement. b. After exercising due diligence, the Executive Committee or committee with Executive Committee-delegated powers shall determine whether KU Endowment can obtain a more advantageous transaction or arrangement with reasonable efforts from a person or entity that would not give rise to a conflict of interest. c. If a more advantageous transaction or arrangement is not reasonably attainable under circumstances that would not give rise to a conflict of interest, the Executive Committee or committee with Executive Committee-delegated powers shall determine by a majority vote of the disinterested members whether or not: (i) the transaction or arrangement, or the action or refraining from taking action, as the case may be, is in KU Endowment's best interests; (ii) the transaction or arrangement or action or refraining from taking action, as the case may be, is for KU Endowment's own benefit; (iii) the transaction or arrangement or action or refraining from taking action, as the case may be, is fair and reasonable to KU Endowment; and (iv) to enter into the transaction or arrangement or take or refrain from taking action, as the case may be, in conformity with such determinations. 4. Violations of the Conflict of Interest Policy a. If the Executive Committee or com”

“The KU Endowment Charitable Gift Fund's governing documents, conflict of interest policy and financial statement are available upon request at 1891 Constant Avenue, Lawrence, KS 66047, 785-832-7400. The information may be mailed or sent electronically if requested.”

“Change in value of life income gifts - -37053;”