Iptay

“The organization has members. Members can nominate directors but cannot vote. Directors shall be elected from candidates nominated by either the Board or the Members, and voted into office by a majority of votes cast by the voting Directors of IPTAY.”

“The finance committee reviews the 990 in detail and a copy is provided to the full Board prior to filing.”

“Board members and key employees are required to acknowledge receipt of the conflict of interest policy annually. Any director or officer shall declare himself/herself as "abstaining" from voting on any matter in which said director or officer may be considered to have a conflict of interest.”

“Individuals conducting IPTAY business are employees of Clemson University. Compensation of the CEO and Athletic Director is determined through the University Human Resources Department with guidelines established by the State of South Carolina.”

“IPTAY is not required to and does not make its governing documents, financial statements, or conflict of interest policy available to the public. IPTAY annually publishes and provides financial information including contributions and program service expenses to contributors. IPTAY's form 990 is available to the public upon request to Davis Babb.”

“Related organizations of Clemson University participate in a combined request for audit and tax services on a recurring basis. At least one member from each entity participates in the selection process. IPTAY chose to utilize the audit and tax services of the firm performing these services for the other related entities currently under contract.”

“During the year ended June 30, 2017, management determined that an error was made in the allocation of net assets between unrestricted and temporarily restricted net assets. The adjustment to correct the allocation error increased temporarily restricted net assets by $25,448,161 and $20,075,428, and accordingly decreased unrestricted net assets by the same amounts as of June 30, 2016 and 2015, respectively. This adjustment also increased temporarily restricted contributions from the public by $10,505,636 and accordingly decreased unrestricted contributions by the same amount for the year ended June 30, 2016.”