The University of Cincinnati Foundation

“Board trustees sean p. Connell and patricia l. Klingbiel-connell have a family relationship.”

“Form 990 is presented to the audit committee of the foundation for review. The audit committee reports on the results of the review to the executive committee of the foundation board of trustees for final approval prior to filing. The form 990 is made available to all members of the board of trustees.”

“Trustees must act in accordance with the foundation's conflict of interest policy. Trustees shall disclose to the board any actual, apparent, or possible conflict of interest at the earliest practical time. Where a trustee's business or other relationship may be involved in a financial transaction with the foundation, such transaction shall be made as a result of competitive bidding or other objective measure in the best interest of the foundation, or, where price is not a factor, decisions shall be made only after discussions by the board of trustees, and only where it is clear that no other source can better serve the foundation. A trustee who has made such a disclosure shall abstain from voting on such matters subject to the conflict of interest policy, the trustee may be invited to the board to participate in the discussion. The board meeting minutes shall reflect that a disclosure was made and note the trustee's abstention from voting. A trustee who is recused may be counted for purposes of determining the presence of a quorum at the meeting but shall not be counted for purposes of determining the presence of a quorum for the requisite board action. The trustees annually shall complete, update, sign, and certify their independence, or promptly report in detail any relationships that are or may be a conflict of interest to the secretary of the foundation board.”

“Position compensation is compared annually to market compensation benchmarking data by the human resources department. Evaluation of individual performance against established goals occurs annually. The university of cincinnati foundation board of trustees compensation committee reviews and approves compensation decisions. This process was most recently undertaken in fiscal year 2018.”

“The governing documents, conflict of interest policy, and the financial statements are available to the public upon request.”

“The uc foundation recorded gifts and commitments of more than $134 and $140 million in fiscal years 2018 and 2017, respectively and include amounts related to university of cincinnati, uc health and lindner center of hope. The contribution revenue noted above includes outright gifts/commitments, planned gifts, certain non-government research and contributions from uc health. Limited use software licenses are excluded from gifts and commitments. Contribution revenue recorded on the uc foundation audited financial statement and form 990 are in accordance with generally accepted accounting principles (gaap). Certain gifts and commitments are excluded from the financial statements and form 990 which include contributions recorded for the uc health foundation and lindner center of hope, revocable bequests, and certain revenue received directly by the university of cincinnati.”

“Change in pv of annuities payable -784,529. Change in value of split interest agreements 874,315.”

“The process has not changed since the prior year.”