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 PRESIDENTS 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. FORM 990, PART VI, SECTION A, LINE 7B The Bylaws may not be amended, without the approval of the University of Missouri, in a manner which would (i) diminish the right of the University of Missouri President to appoint voting members of the Board of Directors, (ii) result in the Chancellor not being a Director and a member of the Executive Committee or (iii) change the sole purpose of the Foundation to include something other than the support of UMKC.”

“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 of directors review the conflict of interest policy on an annual basis and notate if they have any conflicts in written form. Any board member or staff member is expected to recues himself or herself from any foundation committee or process considering action in which he or she has a business or significant financial interest. The chair and president will review potential conflicts of interest and recommend remedial action. Board members with a conflict will be removed from the vote on the potential transaction.”

“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 a performance award 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.”

“Foundation) academic programs and educational opportunities that will enhance umkc over and above those which are funded with state support, student fees and tuition.”

“Enhance umkc over and above those which are funded with state support, student fees and tuition.”

“The umkc foundation ("foundation") and its employees have the primary responsibility for the solicitation of contributions from private sources for the support of umkc. The foundation solicits contributions which are made to the foundation and held and administered by the foundation for the benefit of umkc. The foundation also solicits contributions which are made directly to umkc or to one of its schools or other supporting organizations. The fundraising efforts of the foundation produced the following results during the year ended june 30, 2020: contributions and commitments for future contributions to the foundation of $40,452,247, contributions and commitments for future contributions to umkc (including its several schools and other supporting organizations) of $3,396,395 and planned gift commitments of $282,507. For the fiscal year ended june 30, 2020 the efforts of the foundation have produced pledges and planned giving commitments totaling $44,131,149 plus outright gifts of $15,026,460 resulting in a net production fundraising total of $59,157,609. For the years ended june 30, 2020 and 2019, the foundation made grants from earnings of its endowment funds held by the foundation to support various umkc programs in the amounts of $13,299,178 and $1,748,171, respectively.”

“Net transfer from (to) umkc entities $ 15,525 change in life insurance value $ 2,296 ----------- $ 17,821”

“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 return was updated to reflect adjustments made to the financial statements. The following items were changed on the return: form 990, part viii: the amount of contributions on line 1f changed. Form 990, part ix: the amount of grants given on line 1 changed and the bad debt expense on line 24a changed. Form 990, part x: the end of year balance for pledges receivable, grants payable, and the net asset balances changed. Form 990, part xi: updated to reflect adjustments made to the financial statements. Schedule a, part ii: updated to reflect adjustments made to the financial statements. Schedule d part xi and xii: the amount of revenue and expenses per the audit report was updated to reflect adjustments made to the financial statements. Schedule i: the grant amount to the university of missouri-kansas city changed.”