University of Silicon Andhra

“A copy of the form 990 is distributed among board members. Board members are given a week for questions and the form 990 is not filed before board approval.”

“Aria university requires that each trustee, principal officer, and member of a committee with board-delegated powers disclose their conflict of interest on an annual or more frequently basis to the university. Conflict of interest policies are reviewed as applicable on a continuous basis. New board members are informed when they join the board about the policy. The policy maintains that each officer, director, and member of a committee with board-delegated powers who has a financial interest in a transaction with the organization has a duty to disclose all material facts regarding potential conflicts of interest to the trustees and committee members who are considering the proposed transaction. After a potential conflict of interest is disclosed, the disinterested board or committee members determine by discussion and vote whether a conflict exists. Should an actual conflict of interest be identified, the interested person may make a presentation at the board or committee meeting, then after such presentation must leave the meeting during the discussion of and vote on the transaction or arrangement that results in the conflict of interest. Records of the proceedings and any actions taken by the board or committee are maintained in the meeting minutes. To ensure that the organization operates in a manner consistent with its charitable purposes and that it does not engage in activities that could jeopardize its status as a tax-exempt organization, periodic reviews of potential conflicts of interest are conducted and involve, at a minimum, reviews of compensation arrangements and agreements with third parties.”

“The board approves wages for officers, key employees, and contractors through a process based on comparability data with contemporaneous substantiation of the deliberation and decision.”

“The university's conflict of interest policy is available on the organization's website. The university's governing documents and financial statements are made available to the public upon request.”

“The board of silicon andhra, a tax-exempt 509(a)(2) organization, has resolved to provide full financial support to aria university until such time as either (1) the student enrollment at the university reaches a level to support the self-sustainability of the university or (2) the total charitable donations collected by the university in three successive years can cover the university operating expenses for the ten years following the three years, at the rate of the expenses incurred during the third year of the same period. Of the 2024 total contributions included in form 990, part viii, line 1, $868,547 are contributions from silicon andhra.”

“The university is reporting 45 forms 1098-t on form 990, part v, line 1a.”

“Professional and contractual services: program service expenses 374,525. Management and general expenses 0. Fundraising expenses 0. Total expenses 374,525.”

“Gain on lease termination 1,333,368. Write-off pledges receivables -134,259.”