Csusb Philanthropic Foundation

“Summary of governing committees and their authority the organization's governing documents delegate authority to act on its behalf to the executive committee and other key standing committees. Below is a summary of each committee's composition and authority: advocacy & community relations committee purpose: provides guidance and support for csu and csusb advocacy efforts at the local, state, and national levels. Authority: advises the university on building relationships with legislators, framing key issues, and facilitating introductions to influential individuals. Makes recommendations to the executive committee on legislative issues. Composition: no less than seven (7) members; quorum is at least 50% of the committee; decisions require approval from a minimum of four (4) members. Audit committee purpose: ensures compliance with the nonprofit integrity act and oversees the financial integrity of the organization. Authority: recommends the retention and termination of auditors, reviews and accepts audits, and ensures auditor independence. Composition: no less than three (3) members; quorum is two (2) members; decisions require approval from at least two (2) members. Committee members must not have a material financial interest in any entity doing business with the corporation. Board membership committee purpose: develops a plan for board composition and recruits and recommends candidates for election to the executive committee. Authority: recommends board membership strategies, policies, and practices, and assesses the performance of directors. Composition: no less than three (3) members; quorum is two (2) members. Executive committee purpose: provides oversight of the philanthropic foundation's budget and operations, approves board agendas, reviews standing committee recommendations, and resolves emergency matters. Authority: acts on behalf of the board of directors between board meetings. Composition: officers of the corporation, immediate past chair, ex-officio members, csusb alumni association board president, and the chairs of the investment, audit, advocacy, and philanthropy committees. Associated students inc. May appoint alternate members. Quorum is five (5) members; decisions require approval from five (5) members. Investment & finance committee purpose: oversees the foundation's investment and financial programs, ensuring compliance with investment policies. Authority: manages the foundation's investment program and reviews the operating budget. Composition: no less than seven (7) members; quorum is four (4) members; decisions require approval from four (4) members. Philanthropy committee purpose: provides guidance and leadership for the university's fundraising and development activities. Authority: oversees fundraising priorities, campaign planning, and donor cultivation. Composition: no specific size requirement mentioned; meets at least three (3) times a year. Conclusion: investment & finance committee. The investment & finance committee shall oversee foundation's short-term and long-term investment and finance programs. It shall ensure compliance with investment policies and review quarterly investment reports and review additional data provided by nacubo, csu and other nationwide data. The committee shall maintain the delegated authority of the board to manage the foundation's investment program, including compliance with the investment policy as well as review of the foundation's operating budget. The committee shall be comprised of no less than seven (7) committee members. A quorum shall consist of four (4) committee members. Decisions shall require approval of a minimum of four (4) members of the committee.”

“The form 990 is prepared by the organization's outside public accounting firm based on information provided by management. Once a draft of the return is available, the form 990 is reviewed by the organization's chief executive officer and business services manager. The form is also presented and provided to the board members at the first formal board meeting following the completion of the return. The form 990 is reviewed and approved prior to submitting to the irs.”

“Each member of the board shall receive annually a copy of the applicable sections of the california education code with interpretation of the law by the foundation's counsel and will certify, by signature, his or her compliance.”

“The organization makes its governing documents, policies and financial statements available to the public through its website and also upon request of the public at the organization's administrative office.”

“Change in value of split interest agreements -2,534.”

“The process for oversight and selection of an independent accountant has not changed from the prior year.”