Rowan University Foundation Inc.

“The organization has an executive committee which has the power to make decisions on behalf of organization in the periods between board meetings aside from certain exceptions.”

“The organization has delegated financial and accounting responsibilities to the finance department of rowan university.”

“The rowan university board of trustees appoints all directors, except for the director position that is reserved to the president of the university and chairperson of the university trustees.”

“The organization has delegated the responsibility for the organization's form 990 to the rowan university division of finance. The form 990 is prepared by an outside accounting firm and is reviewed by the accounting services staff within the rowan university division of finance, including the associate controller, and the avp for finance & controller. A complete copy of the form 990 is provided to all members of the organization's board of directors, prior to filing with the irs.”

“Rowan university foundation (ruf) currently has in place a conflict of interest policy which is monitored and enforced annually. The conflict of interest policy applies to all directors, officers, employees, and agents of ruf, including employees of rowan university who act on behalf of ruf. Each ruf director and officer must annually submit a disclosure statement to the board chair listing, to the best of his/her knowledge but without duty to investigate, all organizations with which he or she is affiliated and describing the nature of the affiliation. In the event there is any material change in the information contained in the disclosure statement, the person who submitted it must promptly submit written notification of the change. Any director or officer who is uncertain about possible conflict of interest in any matter may request the executive committee to determine whether a possible conflict exists. If referred to the executive committee, the question must be resolved by majority vote and may be forwarded to the full board for further review. The interested person must not vote on the matter in question and must not be present at the time of the vote. The decision of any actual or potential conflict of interest is documented in the minutes of the board meeting.”

“The form 990, form 1023, financial statements, and conflict of interest policy are available upon written request”

“Allowance for uncollectible pledges -109,870.”

“The filing organization does not have a separate committee that assumes responsibility for selection of an independent accountant. However, the filing organization's related organization, rowan university, does have such a committee that assumes responsibility for selection on behalf of the filing organization. The filing organization does have a committee that assumes responsibility for oversight of the audit of its financial statements.”