Indiana University Foundation

“A management team comprised of various members of the organization from the following departments review the Form 990, including all schedules line-by-line to determine accuracy and validity; President's Office, Legal Counsel, Accounting and Finance, Investments, Internal Audit, Development, Tax and Human Resources and Culture. The IUF engages an independent accounting firm to prepare and file the Form 990. The President & CEO then reviews and signs the Form 990 and the independent accounting firm signs as preparer. The IUF Audit Committee reviews the completed Form 990 including all schedules. Once signed, an electronic version of the public disclosure copy of Form 990 is made available to the IUF Board of Directors via the internet. The public disclosure copy is provided in order to more thoroughly protect the privacy of donors. The Form 990 is then filed electronically with the IRS.”

“Each July, the IUF provides a copy of its Conflicts of Interest Policy to all directors and officers. Directors and officers are required to read and comply with the policy which requires, at a minimum, annually disclosing the existence or non-existence of any conflicts of interest, real or perceived, in writing to the IUF Board Secretary. A management team comprised of various members of the organization from the following departments review the policy to determine validity and completeness based on staff knowledge of IUF activities and transactions; President's Office, Legal Counsel, Accounting and Finance, Investments, Internal Audit, Development, Tax and Human Resources and Culture. Disclosures are reviewed by management and are provided to the Audit Committee Chair and Vice Chair. The Audit Committee Chair will also report any disclosure requiring action to the IUF Executive Committee and Committee on Directors and Governance. When applicable, the Audit Committee Chair will also report any disclosure requiring action to the IUF Board and all relevant Board committees. In addition to the Conflicts of Interest Policy, each July the IUF provides a background survey and a request for information for Form 990 disclosures to all officers, directors and key employees. As with the Conflicts of Interest, disclosures related to the survey and Form 990 are reviewed by staff and provided verbatim to the IUF Audit Committee Chair and Vice Chair. A report is then made by the Audit Committee Chair to the full Audit Committee. The Audit Committee Chair will also report any disclosure requiring action to the IUF Executive Committee and Committee on Directors and Governance. When applicable, the Audit Committee Chair will also report any disclosure requiring action to the IUF Board and all relevant Board committees.”

“Each June, the IUF Compensation Committee approves the compensation arrangements for disqualified persons in accordance with IRS regulation section 53.4958-6 "Rebuttable presumption that a transaction is not an excess benefit transaction". Individuals defined as disqualified persons who receive compensation from the IUF include: the President & CEO; Executive Vice President for Finance and Operations & Assistant Corporate Secretary; Executive Vice President for Development; Executive Vice President and Co-Chief Investment Officer; Executive Vice President, General Counsel and Corporate Secretary; Senior Advisor, IUF; and the Assistant Director of Development, Parent Engagement. The compensation arrangement for each individual is approved in advance for the upcoming fiscal year period July 1 thru June 30 by the Compensation Committee which is an authorized body of the IUF Board of Directors. The Compensation Committee is composed entirely of independent directors who do not have a conflict of interest (within the meaning of paragraph (c)(1)(iii) of section 53.4958-6) with respect to the compensation arrangement for each disqualified person. The Compensation Committee determines if each compensation arrangement in its entirety is reasonable through the use of relevant information including, but not limited to, compensation levels paid by similarly situated organizations, both taxable and tax-exempt, for functionally comparable positions; the availability of similar services in the geographic area of the applicable tax-exempt organization; current compensation surveys compiled by independent firms; and actual written offers from similar institutions competing for the services of the disqualified person. Upon approval of the compensation arrangement for each disqualified person, the Compensation Committee provides written documentation noting the terms of the transaction that was approved and the date it was approved; the members of the Committee who were present during review of the arrangement that was approved and those who voted on it; the comparability data obtained and relied upon by the Committee and how the data was obtained; and, if applicable, any actions taken with respect to consideration of the arrangement by anyone who is otherwise a member of the Committee but who had a conflict of interest with respect to the arrangement. The Compensation Committee's most recent review and approval of compensation arrangements for all disqualified persons was June, 2022.”

“We recognize that good governance practices provide safeguards to help ensure that our funds are consistently used in accordance with our mission, tax-exempt purpose, and donor intent. Copies of the IUF's Forms 990 and Form 990T can be requested through the IUF office. The current year 990 tax return is available through the IUF's website at www.iufoundation.iu.edu. Form 990 and 990T are available upon request for the past three years in accordance with IRC Section 6104(d) through the IUF's office.”

“We recognize that good governance practices provide safeguards to help ensure that our funds are consistently used in accordance with our mission, tax-exempt purpose, and donor intent. Copies of all the IUF's governing documents and conflict of interest policy can be requested through the IUF office. The audited financial statements (past four years), conflict of interest policy and other specific governance documents are available through the IUF's website at www.iufoundation.iu.edu.”

“J Thomas Forbes was appointed the position of Interim President and CEO of Indiana University Foundation on January 1, 2021, and permanently appointed January 1, 2022. During this time, he also served as President for Indiana University's Alumni Association, from which he received compensation. IUF reimburses Indiana University, an unrelated organization, for the increase in salary related to his services provided to IUF during this period.”

“Income/Loss from K-1's -8,382,625. Uncollectable Pledges -6,964,890. Split Interest Agreements -9,596,220.”