Chapman University Foundation

“Form 990, part iii, line 11b the foundation ceased conducting its supporting organization activity which supported chapman university and disbursed 100% of its assets to the university during the fiscal year ending may 31, 2019.”

“Form 990, part vi, section b, line 11b the form 990 was prepared with an outside accounting firm. The form is then reviewed by the secretary/treasurer. The form 990, including all schedules, is provided to the entire board of trustees before the return is filed.”

“Form 990, part vi, section b, line 12c the chapman university compliance officer is charged with monitoring proposed or ongoing transactions for conflicts of interest and addressing any potential or actual conflicts. Pursuant to the conflicts of interest policy, an annual conflict of interest questionnaire, aimed at determining any family and business relationships and transactions or other transactions that may pose a potential conflict, is distrubuted to all covered persons (i.e., board members, officers and executive leadership and key employees). Covered persons are required to disclose real or potential conflicts at the time when such conflicts arise. When someone becomes a covered person and annually thereafter, each covered person is required to sign a statement affirming that he/she: (1) has received a copy of the conflicts or interest policy; (2) has read the policy and understands said policy; and (3) agrees to comply with all requirements of the policy, including completing the conflicts of interest questionnaire. The completed questionnaires are reveiwed by the university compliance officer and the audit committee, then the results are reported to the full board of regents as defined by the university's bylaws.”

“Form 990, part vi, section c, line 19 while federal tax laws do not mandate that the organization's governing documents, conflict of interest policy and financial statements be made available for public inspection, the foundation makes its consolidated financial statements available upon request.”