Iowa Scholarship Fund Inc

“The prepared form 990 was posted to a secured website for board members to access. An email was sent to all board members directing them to the online form and requesting their review prior to filing it with the irs.”

“(1) the iowa scholarship fund's (isf) board of directors, board committee members, and officers (responsible persons) have a duty to conduct activities of the isf with the highest ethical standards and to make decisions concerning the isf solely to advance its mission and interests. (2) 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. 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 annual statement and supplemental reports, if any, shall be reviewed by the executive committee. (3) determination of conflict: the executive committee, without the affected responsible person, shall determine whether a conflict of interest exists. If a conflict of interest exists, the material facts of the conflict of interest will be disclosed to the board of directors. (4) 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 scholarship fund in performing its mission. The authorization, approval, and ratification must be accomplished by an affirmative vote, as applicable, 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.”

“Transfer of assets to university of iowa foundation -6,293,600.”