Pennsylvania'S State System of Higher Education Foundation

“The board members all receive a notification that a draft copy of the 990 form is available for review for a 30 day period at the foundation's office. In addition, any board member may request that a copy of the draft 990 be mailed or emailed to them for their review. After the 30 day review period, the foundation will make any necessary changes or edits to the 990 form and file it before the due date.”

“Board members are currently required to complete a conflict of interest form annually, and to inform the foundation if an interest that could cause a conflict subsequently occurs. If a conflict is identified, the ceo confers with the executive committee to attempt to resolve the conflict. The board has been considering the implementation of any annual conflict of interest declaration.”

“The foundation executive committee reviews comparable salaries for other simlar pa state university foundations when determining the compensation for the foundation's president/ceo. However, the final compensation determination has not been contemporaneously documented in the board minutes to date.”

“All documents that must be made available to the general public are made available upon written request. Other governing documents are generally not made available to the public.”

“The mission of the passhe foundation is to support student success and university excellence. In support of student success, the foundation secures funds for and manages programs awarding scholarships that are need-based, industry focused, and academically comptetitive to students attending the 10 universities of pennsylvania's state system of higher education. During the 2022-23 fiscal year, the foundation awarded 567 scholarships totaling 829,117. These scholarships improve access to and affordability of higher education, ensuring students persistent through to graduation and attain a degree. One-third of the state system's students come from low-income households. A similar percentage are the first generation in their families to go to college. The foundation's scholarship program not only reduces the cost burden of a post-secondary education but also reduces their student loan debt. State system students fuel pa's economic vitality. Ten years after graduation, 75% of low-income students have moved into middle class and thus achieved economic mobility and 63% remain working in pa.”

“6,200 67,560 3,100 216,585 0 0 total 222,785 67,560 3,100”

“Change in accounting method caused adjustment to prior end of year balance.”