University of Alaska Foundation

“The reporting of compensation in the form 990 relfects the amounts the university of alaska foundation directly reimburses to university of alaska for compensation, benefits and related costs of employment of employees devoting time to the foundation. Since the foundation reimburses these amounts directly, the reimbursements are reported as salaries, benefits and payroll taxes within the form 990. The foundation believes the presentation more accurately reflects the true nature of the reimbursement to the university. For fiscal year 2025, the foundation reimbursed the university for approximately 36 employees serving the foundation in both a full time and part time capacity.”

“The executive committee is composed of the governing body appointed officers (chair, vice chair, treasurer, and secretary) and the president of the university of alaska who is a voting ex-officio member of the governing body. The committee acts only during intervals between meetings of the board of directors and may exercise all authority and powers of the board of directors in the management of the affairs of the foundation, with the exception they may not amend the bylaws.”

“Sean parnell has a business relationship with ella goss, mary hughes, dale anderson, pat pitney, tod burnett, megan riebe & tlisa northcutt. Aparna palmer, cheryl siemers, and dan white all reported to pat pitney in her role as president of the university of alaska.”

“The board includes between 20 and 30 voting members, as determined from time to time by the board. There are four classes of members: -ex-officio directors include the president of the university and the university chancellors, as voting members; -regent directors include two members of the board of regents, annually appointed by the chair of the board of regents, as voting members; -elected directors include not less than 14 and no more than 24 directors, as voting members. They are elected by a majority vote of the board of directors present at a duly noticed meeting of the board from the slate of candidates prepared by the committee on membership; -emeritus directors are honorary lifetime members of the board who do not have the ability to vote and their number is not included in calculating the total number of directors and quorum.”

“Foundation investment policy is approved both by foundation board and also by ua board of regents.”

“The form 990 is prepared by an independent accounting firm with information provided by the foundations accounting department. The form 990 is reviewed and approved by the finance and audit committee and then forwarded to the entire board for their information prior to filing.”

“The university of alaska foundation has a conflict of interest policy which applies to board members, all committees, subcommittees, officers, employees, and volunteers having board-delegated powers. This policy is distributed annually and each recipient reviews the policy, signs it and returns it to the board coordinator indicating either no conflicts or disclosing any existing or foreseeable conflicts. Any disclosures are then forwarded to the executive committee for review and action. The policy provides that potential conflicts are to be disclosed to the board, committee, officer or supervisor as soon as practicable after becoming aware of a potential conflict. If a conflict is disclosed in a meeting, the person of interest is asked to leave the meeting during the discussion of, and the vote on, the transaction or arrangement that results in the conflict. If appropriate, another person or committee may be appointed to investigate alternatives to the proposed transaction or arrangement. The nature of the potential conflict, the determination by the board or committee, and details of any votes taken are documented in the minutes of the meeting. Any person violating the conflict of interest policy shall be subject to appropriate discipline, including dismissal or removal from office.”

“The ua foundation's compensation system is administered by the university of alaska's human resources department in accordance with the university's policies and procedures. Specific to the president, the executive committee conducts the annual review and documents approval of both salary and bonus. The process described here was last completed in 2025.”

“The articles of incorporation and financial statements are available to the general public on the foundation website, www.alaska.edu/foundation. The conflict of interest policy is available to the general public upon request.”

“Compensation and related tax filings, such as the w-2 and w-3, are provided by the university of alaska. The foundation reimburses the university for all compensation and related expenses.”

“The foundation provides grants and other assistance to domestic individuals through its unrelated entity, the university of alaska. These scholarships are funding the students at the university of alaska.”

“Actuarial adjustment of remainder trust 117,944.”

“The process for oversight and selection of an independent accountant has not changed from the prior year.”