Indiana University Foundation Inc

“John Peterson, IUF Non-Fiduciary Director, and Donald Danielson, IUF Non-Fiduciary Director, are Chairman and Vice-Chairman of City Securities Corp, respectively. Additionally, John Peterson and Donald Danielson are brothers-in-law. Gayle Cook, IUF Non-Fiduciary Director and Phyllis McCullough, IUF Honorary Director, are Co-Owner and Executive Vice Chairman, respectively, of Cook Group, Inc. Michael McRobbie, Board Chair and James T. Morris, IUF Non-Fiduciary Director are directors of OneAmerica Financial Partners, Inc. Lacy M. Johnson, IUF Non-Fiduciary Director and Harry L. Gonso, IUF Vice Chairman are partners at Ice Miller, LLP. Michael McRobbie, Board Chair and Laurie Burns McRobbie, IUF Key Employee are husband and wife. William Buckner, IUF Non-Fiduciary Director and James T. Morris, IUF Non-Fiduciary Director are Employee and Vice Chairman & Director, respectively, of Pacer Sports & Entertainment. William G. Mays, IUF Honorary Director and Rose Mays, IUF Non-Fiduciary Director are husband and wife. Additionally, William G. Mays and Rose Mays are officers of Mays Chemical Company.”

“The Form 990 is completed by Indiana University Foundation staff. A management team comprised of the Executive Vice President for Finance and Operations; Vice President, General Counsel and Corporate Secretary; Vice President and Chief Investment Officer; Assistant Vice President and Chief Compliance Officer; Vice President for Advancement Services & Managing Director of Capital Campaigns; Executive Vice President for Development; Controller; Associate Vice President for Finance; and Chief of Staff review the Form 990, including all schedules line-by-line to determine accuracy and validity. The Indiana University Foundation engages an independent accounting firm to review the Form 990. The President & CEO then reviews and signs the Form 990 and the independent accounting firm signs as preparer. The Indiana University Foundation Audit Committee reviews the completed Form 990, including all schedules. Once signed, an electronic version of the Form 990 is made available to the Indiana University Foundation Board of Directors via the internet. The Form 990 is then filed electronically with the IRS.”

“Each July, the Indiana University Foundation 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 Indiana University Foundation Board Secretary. The disclosures are reviewed by Indiana University Foundation staff including the Executive Vice President for Finance and Operations; Vice President, General Counsel and Corporate Secretary; Vice President and Chief Investment Officer; Board Secretary; Assistant Vice President and Chief Compliance Officer; Chief of Staff; and the Assistant Vice President, Personal Property, Real Estate and Insurance to determine validity and completeness based on staff knowledge of Indiana University Foundation activities and transactions. The results of this review, along with every disclosure in its entirety, are provided to the Indiana University Foundation Audit Committee Chair and Vice Chair. A report is then made by the Audit Committee Chair to the full Audit Committee. When applicable, the Audit Committee Chair will also report any disclosure requiring action to the Indiana University Foundation Executive Committee and Committee on Directors and Governance. When applicable, the Audit Committee Chair will also report any disclosure requiring action to the Indiana University Foundation Board and all relevant Board committees. In addition to the Conflicts of Interest Policy, each July the Indiana University Foundation provides a background survey and a request for information for Form 990 disclosures to all officers and directors. As with the Conflicts of Interest, disclosures related to the survey and Form 990 are reviewed by staff and provided verbatim to the Indiana University Foundation Audit Committee Chair and Vice Chair. A report is then made by the Audit Committee Chair to the full Audit Committee. When applicable, the Audit Committee Chair will also report any disclosure requiring action to the Indiana University Foundation Executive Committee and Committee on Directors and Governance. When applicable, the Audit Committee Chair will also report any disclosure requiring action to the Indiana University Foundation Board and all relevant Board committees.”

“Each June, the Indiana University Foundation 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 Indiana University Foundation include: the President & CEO; Executive Vice President for Finance and Operations; Executive Vice President for Development; Vice President and Chief Investment Officer; Vice President for Development, Regional Campuses; Vice President for Development, Bloomington; Vice President, General Counsel and Corporate Secretary; Associate Vice President for Finance; Board Secretary; Vice President for Development, Indianapolis; Associate Director, Regional Advancement; and the Indiana University Associate to the President. 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 Indiana University Foundation 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 4, 2015.”

“The governing documents, conflict of interest and financial statements are available to the public on the IU Foundation's public website; www.iufoundation.iu.edu.”

“Change in Value of Split Interest Agreement -887,481. Income/Loss from K-1's 1,357,304.”

“Additional Explanation for Fundraising Events IUF annually holds the Little 500 races. While these events do raise some funds, their main objective is to increase awareness of philanthropy among the student population and create relationships upon which to base future giving potential.”