Stanley-University of Iowa Foundation Support Organization

“The stanley university of iowa foundation support organization's board of directors, through its bylaws, delegates authority to act on its behalf to an executive committee. The executive committee has and exercises all of the powers of the board between meetings to the extent permitted by law. Written reports of the actions of the executive committee are submitted to the board at its next meeting.”

“The board of directors (board) of the stanley university of iowa foundation support organization (corporation) shall consist of: three (3) ex officio voting directors: the president of the state university of iowa foundation (foundation); the president of the university of iowa; and the president of the holthues trust or his/her designee; and one director appointed by the president of the holthues trust; and three directors appointed by the chair of the board of directors of the foundation from among the officers, directors, or lifetime honorary directors of the foundation.”

“The form 990 is prepared and reviewed by an independent accounting firm. The accounting staff at the state university of iowa foundation conducts a detailed review of the form 990. Following the detailed review, the prepared form 990 is mailed to all board members to review the form prior to the filing deadline.”

“The stanley-university of iowa foundation support organization's board of directors and officers (responsible persons) have a duty to conduct activities with the highest ethical standards and to make decisions solely to advance its mission and interests. This conflict of interest policy is to assist the board and responsible persons in identifying situations that present potential or actual conflicts of interest and to specify procedures for managing them. A conflict of interest may arise when a responsible person has an existing or potential financial interest or other material interest that impairs or might appear to impair, his or her independence or objectivity in the discharge of responsibilities and duties to the stanley university of iowa foundation support organization. (1) reporting procedures: each responsible person must annually complete and submit a statement setting forth any and all potential and actual conflicts of interest that are anticipated to occur in the coming fiscal year. The annual statement shall disclose as fully as possible, the circumstances of each actual or potential conflict. The annual statement will be initially reviewed by the chair of the board. In addition to the annual statement, upon becoming aware of any actual or potential conflict of interest not previously disclosed, a responsible person must promptly report in writing to the chair of the board, the previously undisclosed circumstances. The chair's statement, if any shall be reviewed by the executive committee. (2) determination of conflict: the executive committee, without the affected responsible person present, shall determine whether a conflict of interest exists. If a conflict of interest exists, the material facts will be disclosed to the board of directors. (3) action and recusal: the board shall determine whether to authorize, approve, or ratify the arrangement/transaction based soley on whether it is in the best interest of the stanley university of iowa foundation support organization in performing its mission. The authorization, approval, and/or ratification must be accomplished by an affirmative vote, as applicable of a majority of the directors on the board who have no direct or indirect interest in the arrangement/transaction. The authorization, approval, or ratification may not be made by a single director.”

“The governing documents, conflict of interest policy, and financial statements are available to the public upon request.”

“Lynette marshall, sherri furman, tara sterba, cathy zaharis, gregs thomopulos, and barbara wilson have a business relationship. Elizabeth shriver and rebecca stanley have a family relationship.”