Isu Veterinary Services Corporation

“Board members warren madden, lisa nolen and jonathan wickert are employees of isu, the sole corporate member.”

“The corporation has one member: iowa state univeristy of science and technology (isu).”

“The board of directors shall be comprised of three isu directors: the individual then-serving (including in an acting or interim capacity) as the executive vice president and provost of iowa state university or an alternate individual designated in writing by the executive vice president and provost of iowa state university as having the power to attend and vote at meetings of the corporation's board of directors in the place of the executive vice president and provost of iowa state university. The individual then serving (including in an acting or interim capacity) as the vice president of business and finance of iowa state university or an alternate individual designated in writing by the vice president of business and finance of iowa state university as having the power to attend and vote at meetings of the corporation's board of directors in the place of the vice president of business and finance of iowa state university. The individual then-serving (including in an acting or interim capacity) as the dean of the college of veterinary medicine of iowa state university or an alternate individual designated in writing by the dean of veterinary medicine of iowa state university as having the power to attend and vote at meetings of the corporation's board of directors in the place of the dean of the college of veterinary medicine of iowa state university. And two community directors: each community director shall be appointed by the individual then-serving as president (including in an acting or interim capacity) of iowa state university for a term of two years or such a shorter or longer term as such appointing president may designate.”

“The business and affairs of the corporation, including the control and disposition of its property and funds, shall be managed by its board of directors. The board of directors shall have sole authority to establish methods of contributions, accept or reject contributions, or to provide for any other restrictions, qualifications, or to provide for any other restrictions, qualifications or levels relating to contributions which it in its sole discretion deems necessary, subject to applicable legal requirements. The following actions may not be taken by the corporation without first receiving the approval of the corporation's sole member; 1) the voluntary dissolution of the corporation; 2)the sale, conveyance, leasing, transfer or other disposition of substantially all of the corporation's assets; 3) any merger, consolidation or other corporate restructuring transaction of any kind; 4) the authorization of the corporation to incur long-term debt to a bank or another financial institution or any other entity in excess of $500,000; 5) the amendment of the corporation's articles of incorporation; 6) the amendment of the corporation's bylaws.”

“There are no committees other than the governing body.”

“The form 990 is provided to each member of the board of directors prior to filing with the internal revenue service.”

“The conflict of interest policy for isu was adopted for the filing organization. The officers of the organization complete an independence questionnaire annually to respond to form 990 compliance.”

“Executive compensation is based upon an analysis of comparable salaries in the area. A written employment contract is provided to the chief operating manager. Compensated board members are paid by a related organization, iowa state university, the sole corporate member, for services rendered as employees of iowa state university. The administrative salaries for the provost and vice-president of business and finance are negotiated by the president and are largely market driven. Isu institutional research contributes to an annual survey for peer land grant universities faculty salary comparisons. The data used for the salary comparisons are collected through the association of american university faculty salary survey in discipline. The peer grant universities are: university of arizona, university of california davis, university of illinois urbana, michigan state university, university of minnesota, north carolina state university, ohio state university, purdue state university, texas a&m university, university of wisconsin madison. Form 990, part vi, section b, 15b: compensation is determined based upon an analysis of comparable veterinarian salaries provided by data received by the iowa state university college of veterinarian medicine for students planning to practice in the field of veterinary medicine through the career placement office. Written employment contracts are provided to the employed veterinarians at the hosptial.”

“The organization does not make its governing documents, conflict-of-interest policy and financial statements available to the public.”

“Lisa k. Nolen, dvm, warren r. Madden and jonathan wickert: compensation paid to board members is for professional responsibilities as employees of iowa state university. Time devoted to taxpayer is in a volunteer capacity. Hours devoted to related organization: lisa k. Nolen 40 hours warren r madden 40 hours jonathan wickert 40 hours”

“No change has been made to the oversight process from the prior year.”