Umkc Foundation

“The president of the curators of the university of missouri shall be entitled to appoint up to, but not more than, twenty percent of the members of the board. The president's appointments will not include more than two persons who are employees of the university. Prior to making such appointments the president shall consult with the nominating committee of the foundation regarding persons being considered by the president for appointment to the board. The umkc trustees have the ability to appoint a member to the board of the foundation given that their president serves as a member of the umkc foundation board.”

“The form 990 is prepared by an independent third party accounting firm. It is provided to the board of directors for review and recommended revisions before it is filed.”

“The board requires members to report circumstances where there is a conflict of interest and abstain from voting.”

“The compensation of the president of the foundation was established by a written employment agreement which was approved by the board of directors, all of whom are independent persons. This employment agreement provides that the president is eligible for an incentive bonus each year, the amount of which is determined by the board of directors.”

“The organization makes its governing documents and financial statements available to the public upon request. Interested parties may request these documents from jay wilson at 816-235-2672.”

“Net transfer from (to) umkc entities -223,398. Write-off of pledges receivable -341,451.”

“Oversight of the audit, review, or compilation for financial statements: the oversight of the audit, review, or compilation of umkc foundation's financial statements is the responsibility of the audit committee and that responsibility and authority has not changed from the prior year form 990.”

“The umkc foundation engaged in the following transactions with the curators of the university of missouri and the university of missouri-kansas city (hereinafter collectively referred to as "umkc") during the period reported. The transactions were: grants to umkc $4,592,130; umkc paid to the foundation $1,150,000 for services rendered by the foundation, and the foundation reimbursed to umkc $2,629,344 for the use of leased employees. Furthermore, the foundation also receives a management fee on non-endowed funds related to several constituent organizations. Umkc foundation had fourteen employees of its own at the end of the fiscal year that were not leased from umkc. Employees leased from umkc are reported as employees of the foundation with respect to their salary expense, on form 990 pursuant to form 990 instructions.”

“Section 1.263(a)-1(f) de minimis safe harbor election umkc foundation 202 admin center, 5100 rockhill road kansas city, mo 64110-2499 employer identification number: 26-0840496 for the year ending june 30, 2017 umkc foundation is making the de minimis safe harbor election under reg. Sec. 1.263(a)-1(f).”

“The audited financial statements of umkc foundation include the activity of umkc research foundation, a separate organization. All activity from the research foundation has been omitted from the umkc foundation form 990 (refer to parts viii, ix, & x) since the research foundation reports its activity on their separately filed form 990. Please refer to the audited financial statements of umkc foundation for the year ended 6/30/2017 as well as form 990, schedule d, parts xi & xii for additional information.”