Florida Polytechnic University Foundation Inc.

“The executive committee is a standing committee and consists of the following: the chair, vice chair, the university president's designee, the chair of the board of trustees' designee, and the chairs of the other standing committees. The chair, or in his or her absence the vice chair, presides at meetings of the executive committee. The ceo also serves as a non-voting member of the executive committee. The executive committee has and may exercise all powers and authority of the board when the board is not in session and may act in lieu of any committee; provided however, the executive committee has no authority to alter, amend, or repeal the articles of incorporation or the bylaws of the foundation or to elect or appoint directors or officers. Notwithstanding the prohibition on the executive committee electing or appointing officers, the executive committee may appoint acting or interim officers; however, officers appointed by this authority may only serve until an election occurs.”

“A complete copy of the 990 is provided to every member of the board of directors for review prior to being filed with the irs.”

“In connection with any actual or possible conflicts of interest, an interested person must disclose the existence of his or her financial interest and all material facts to the directors and members of committees with board-delegated powers considering the proposed transactions or arrangement. The remaining board or committee members shall decide whether a conflict of interest exists. An interested person may make a presentation at the board or committee meeting, but after such presentation, he or she shall be invited and allowed (but not required) to leave the meeting during the discussion of, and the vote on, the transaction or arrangement that results in the conflict of interest. The chair of the board or the committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the board or committee shall determine whether the foundation can obtain a more advantageous transaction or arrangement with reasonable efforts from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably attainable under circumstances that would not give rise to a conflict of interest, the board or committee shall determine by a majority vote of the disinterested directors or members in attendance whether to enter into the transaction despite the conflict of interest.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available upon request.”

“Bad debt - pledge -12,371. Recovery of bad debts 126,045.”