Iowa State Bar Foundation

“The iowa state bar foundation is managed by the iowa state bar association, the organization it supports. See schedule a, part i, 12g.”

“The board of directors of the foundation are elected by the board of the iowa state bar association.”

“Form 990 is provided to all members of the board of directors 10 days prior to filing. Directors will be asked to review and direct any questions to isba accountant or directly to the return preparer.”

“Any director or officer who has a direct or indirect financial interest must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the board of directors. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, the board of directors shall discuss and decide if a conflict of interest exists. The interested person shall leave the meeting while this determination is discussed and voted upon. The board of directors shall determine whether the isbf can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. Each director and officer shall annually sign a statement which affirms such person: has received a copy of the conflicts of interest policy, has read and understands the policy, has agreed to comply with the policy, and understands foundation has tax-exempt status pursuant to irc 501(c)(3)and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.”

“The isbf provides copies of form 990, governing documents, conflict of interest policy and financial statements upon request. These documents are available for the same period of time as described in internal revenue code section 6104(d) for other public disclosure documents.”