Iowa Law School Foundation

“Elizabeth boyd and willard l. Boyd iii have a family relationship.”

“The board of directors consists of two members from the student body of the college of law and three members from the faculty of the college of law. One of the student directors is elected by the student body of the college of law. If a student director dies, resigns or loses his/her student status, a successor for the balance of the unexpired term shall be elected by the executive committee of the student bar association. Each faculty director shall be elected by the affirmative vote of a majority of the faculty of the college of law. In the event of the death or resignation of a faculty director or in the event of his/her leaving the faculty, the successor to his/her unexpired term shall be elected by the faculty college of law.”

“The form 990 is prepared and reviewed by an independent accounting firm. A subcommittee of the board of directors conducts a detailed review of the form 990. Following the detailed review, the final form 990 is posted on the board website and all board members are notified to access the website and review the form prior to the filing deadline.”

“The iowa law school foundation (ilsf) board of directors, board committee members and officers (responsible persons) have a duty to conduct activities of the ilsf with the highest ethical standards and to make decisions concerning the ilsf solely to advance its mission and interest. 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. (1) 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. Upon becoming aware of any actual or potential conflict of interest not previously disclosed, a responsible person must promptly report, in writing to the president of the board, the previously undisclosed circumstances. The president's annual statement and supplemental reports, 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 solely on whether it is in the best interest of the iowa law school foundation 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 governing documents, conflict of interest policy and financial statements are available to the public upon request.”

“By maintaining funds to use and apply the whole or any part of the income and/or principal exclusively for charitable, scientific, literary or educational purposes.”

“(Expenses $ 106,120 including grants of $ 106,120) GRANTS PROVIDING RESOURCES TO THE UNIVERSITY COLLEGE OF LAW FOR RESEARCH AND FACILITIES SUPPORT.”