University of Wisconsin-Stevens Point

“Pursuant to article vii (committees), section 7.4 (executive committee) of the organization's bylaws the executive committee shall have and may exercise, when the board of directors is not in session, the power of the board of directors in the management and affairs of the corporation, except, election of officer or filling of vacancies in the board of directors or committees created by the board. Furthermore, the executive committee does not have the power to borrow money, mortgage, sell, transfer, encumber or assign any tangible property of the corporation without specific authorization of the board of directors.”

“In november 2024, the university of wisconsinstevens point foundation, inc. Approved restated bylaws that expanded governance structures and clarified leadership roles. Key changes included the addition of new standing committees (governance, property, risk management), formalization of the executive director or chief executive officer role with spending and management authority, and the creation of special committees such as the variance committee and uw-marshfield foundation sub-board. The bylaws also updated procedures for committee communication, clarified officer responsibilities, and modernized language for inclusivity and operational clarity.”

“The foundation provides pertinent information to our cpa and then relies on them to complete the 990. A joint meeting with cpa representatives, uwspf finance and investment committee, and the uwspf executive committee meets in october for a line-by-line review of the form. The full board receives a 990 checklist, and a copy of the completed 990, as part of the board meeting packet in advance of the november annual meeting. The full board hears comments from the board treasurer and, after discussion, a recommendation from the combined committees to vote acceptance of the 990 is presented and acted upon.”

“When the organization seeks business with a member or any business with which the member is affiliated as an owner or employee, the existence and nature of any conflict should be fully disclosed to the board of directors or executive committee before any vote or action on the matter.”

“All foundation employees are actually state of wisconsin employees and subject to the normal review process and collective bargaining agreements.”

“ORGANIZATION'S WEBSITE”

“Chg - pledges receivable -50,915. Change in split interest -12,097. Scholarships returned 18,600. Other revenue-temprarily restricted 4,718,396.”

“The organization did not change its oversight process or selection during the tax year.”