Urbana University Foundation

“Upon completion of the form 990 and all supporting schedules (the "return"), was first reviewed by the franklin university "shared service group" (consisting of the franklin university cfo and director of accounting, and the urbana university controller) to ensure the return was prepared consistently with the accounting information provided to the preparer by the shared service group. The return was then reviewed by the urbana foundation treasurer with consultation of the shared services group and tax experts, where considered necessary. Questions arising from the reviews were addressed appropriately, with any necessary changes made to the return. A copy of the final return was then provided to the urbana foundation board of trustees via email for their review prior to filing of the return.”

“Urbana university foundation regularly and consistently monitors and enforces compliance with its conflict of interest policy by 1) each person nominated to the board of trustees completes a conflict of interest disclosure certificate, 2) annually, each trustee completes a conflict of interest disclosure certificate, 3) annually, a summary of all conflicts disclosed by trustees is distributed to all trustees, 4) trustees with a conflict relative to specific items of deliberation are advised by the chair to refrain from discussion and voting or are excused from the meeting if the conflict is material, 5) the contemporaneous minutes of the meeting reflect the nature of the conflict and the fact that the member did not participate in discussion or voting on the item under deliberation.”

“The governing documents, conflict of interest policy, and financial statements are available to the public upon written request or by visiting the office during normal business hours.”

“Loss on uncollectible pledges ($26,000)”