Und Alumni Association and Foundation

“The executive committee consists of the organization's chair; vice chair; immediate past chair; and chairs of the standing committees for the organization: alumni relations and development committee, audit committee, finance committee, governance committee, and investment committee; the president of the university of north dakota and the ceo serve as non-voting ex-officios. The executive committee will, during the intervals between the meetings of the board, possess and may exercise all of the powers of the board in the governance of the affairs of the organization, except as to such matters which the board has, by resolution, expressly reserved to it, and except as limited by applicable law.”

“The organization amended the Articles of Incorporation in order to receive gifts and other transfers of property and maintain funds which support the Corporation's purposes but which also make grants and gifts to other organizations provided that such gifts and grants are for a charitable, educational, scientific, religious or literary purpose within the meaning in Code Sections 170(c)(2) and 501(c)(3) and not inconsistent with the purposes and mission of the Corporation and University of North Dakota.”

“The organization's audit committee reviews the 990 tax return before it is filed. Representatives from the Foundation's Independent accounting firm review the 990 forms with the audit committee in detail and note for the committee any changes in the form from prior years. After discussion, the head of the audit committee entertains a motion to send the 990 forms to the full board for approval. The full board reviews the Form 990 before filing.”

“All members of the Board of Directors and all employees receive a copy of the Conflict of Interest Policy each year. Each Board member and staff member fills out a Conflict of Interest Questionnaire in which they are asked to identify any relationship that would create a conflict of interest. The results are summarized and reviewed by the Governance Committee which evaluates each situation and determines any actual or potential conflict and recommends a course of action to the Board of Directors.”

“The board of directors have established a compensation committee to provide oversight on matters relating to the organization's management compensation policies and practices. The role of this committee is to make recommendations to the board of directors with respect to compensation of the organization's chief executive officer in connection with an annual performance review and to review and approve the compensation of the organization's other chief officers and employees who have substantial influence over the affairs of the organization.”

“Governing documents and conflict of interest are available upon request. Financial documents are available by request and are also located on the und alumni association and foundation website.”

“Development. The und alumni association and foundation has a tradition of philanthropic support, leading efforts to raise and manage funds that secure a strong future for university of north dakota and its students, faculty, and alumni. The organization provides the centralized infrastructure and services to support all private fund raising efforts on behalf of the university of north dakota and acts as the university's designated fund raising organization, partnering with all colleges and units. In the spirit of stewardship and fiduciary responsibility, the organization successfully leads the university through campaigns to grow its endowment to secure a solid financial future that benefits the continued educational and economic development of the state of north dakota.”

“Change in value of split interest agreements 2,651,576.”

“The process for overseeing the audit and selecting the independent accountant has not changed since last year.”