Southern Illinois University Foundation

“The executive committee shall be comprised of not fewer than eight or more than eleven elected directors as nominated annually by the committee on directors and approved by the board. The committee will include the president, president elect, audit committee chair, investment committee chair, development committee chair and the board of trustees representative. Additionally, the president of the southern illinois university system and the chancellor of southern illinois university carbondale shall be ex-officio members of the committee, without vote. The executive committee conducts the necessary business of the foundation when the board of directors is not in session. The board delegates power to the executive committee as appropriate, those powers to be exercised only in consonance with policies earlier established by the board.”

“After management review, the public inspection copy of the form 990 was sent to members of the board's audit committee for review. In addition, the public inspection copy of the form 990 was forwarded to the governing body before filing.”

“An interested person discloses any financial interest and all material facts relating thereto to the board or committee as soon as the interested person becomes aware of a possible conflict of interest. Upon the disclosure by an interested person of a financial interest and all material facts relating thereto and discussion with the interested person, he or she leaves the meeting while the remaining members of the board or committee discuss the matter and determine, by majority vote without the interested person voting, whether or not the financial interest of the interested person constitutes a conflict of interest. If a conflict is determined to exist, the board or committee: 1. Requires the interested person to leave the meeting during the discussion of and the vote on the transaction that results in the conflict; provided, however that the interested party may make a presentation at the meeting prior to leaving, 2. Appoints, if deemed appropriate, a non-interested party to investigate alternatives to the proposed transaction, 3. Determines, by majority vote without the interested person voting, whether the transaction is in the organization's best interest, is for the organization's own benefit and is fair and reasonable to the organization. The policy applies to any transaction or arrangement between the organization and any interested person. An interested person is a director, officer or member of a committee with board-delegated powers who has a direct or indirect financial interest.”

“The ceo evaluation and compensation committee evaluates the ceo based on a set of identified goals and expectations. The committee meets with the ceo to review these goals and expectations. The committee then recommends a salary based on comparative data to the chancellor of the university.”

“The foundation's governing documents, conflict of interest policy and financial statements are available upon request.”

“Glenn w. Poshard was a director through april 30, 2014. Randy j. Dunn replaced him as a director on may 1, 2014. Deborah a. Case was employed through january 31, 2014.”

“Other employee benefits listed as program service expenses: recruitment/moving exp. For employees of related org. $ 3,000 employee (and retirement) gifts and parties for employees of related org. 5,447 ------- total program services employee benefits $ 8,447 other employee benefits listed as management & general expenses: recruitment/moving exp. For employees of related org. Working for the foundation $10,812”

“Bad debt expense (1,150,147) rounding 1 total (1,150,146)”