Indiana State University Foundation Inc.

“Voting members of the governing body: the board has delegated authority to the executive committee to approve the foundation's annual spending rate, effective july 1 of each year, at its october board meeting.”

“Power to appoint members of the governing body: indiana state university has the ability to appoint members to the indiana state university foundation's governing body. Various positions for the university must serve as directors for the foundation per the foundation's bylaws.”

“Process to review form 990: the executive director of financial services and cfo, the audit committee chair, and the president will do a detailed review of the tax return before filing. The 990 is also provided to the full board, which includes the members of the audit committee, for their review before it is filed. The return is also prepared by an independent accounting firm.”

“Conflict of interest policy: individuals with conflicts may not participate in the consideration of transactions, nor can they vote on them. Conflicts of interest questionnaires are completed each year by members of the board of directors. The assistant secretary of the board collects the completed conflict of interest forms from all board members and gives them to the president to review. Before any matters are considered, the chair asks that anyone with a conflict excuse themselves.”

“Review of top management official compensation: compensation of the foundation's president is determined and approved each year by the executive committee of the board of directors. They use comparability data and deliberation to determine the proper level of compensation for the president. The foundation's president also has a written employment contract. Compensation of key employees is determined by the president and approved by the board of directors each year. Comparability data and other information is used to determine proper compensation for key employees. Compensation was last reviewed in june and july of 2015 for the above positions.”

“Governing documents available to the public: the conflict of interest and bylaws are available online at www.indstatefoundation.org. Financial statements are available upon written request.”

“Employees reported on w-3, transmittal of wage & tax statements: wages and payroll amounts are shown on the return. These amounts are paid through contracted payroll, not through the foundation's own payroll. Thus, no forms w-2 or payroll returns are filed by the foundation. The number on part v line 2a represents the estimated number of forms w-2 that would have been filed if the foundation had filed their own forms. This number includes both staff and student employees.”

“Change in net assets: change in value of split interest agreements 66,493”