University of Nebraska Foundation

“Trustee members trustees are considered members of the entity.”

“Elections of board of directors trustees elect the board of directors.”

“Review of the form 990 the approval of the form 990 has been delegated by the board of directors to the tax review subcommittee. The tax review subcommittee consists of three elected directors - the board chair, board chair-elect and audit committee chair. The tax review subcommittee reviews and approves the form 990 prior to filing. The form 990 with schedule b redacted is sent to the full board of directors for review prior to filing.”

“Conflict of interest policy annual completion of the conflict of interest disclosure statement is required by the board of directors of the foundation. Stated disclosures are investigated by in-house legal counsel and reported to the chair of the audit committee. The chair reviews any potential conflicts and makes a recommendation to the board, if appropriate. The board makes the final determination of whether or not there is a disqualifying event. At any time, a board member may recuse himself/herself from the discussion. The individual is also required to disclose any known or possible conflicts that arise during the year.”

“Review of compensation market data on compensation is gathered and analyzed and the information is then provided to the compensation subcommittee of the executive committee. Based on the data provided, the compensation subcommittee submits recommendations for compensation of officers and disqualified persons to the executive committee. The executive committee, with the authority provided to them by the board of directors, approves all disqualified person salaries and reports the salaries to the board.”

“Governing documents audited financial statements are published on the organization's website. All other governing documents are available to the public upon request.”

“President & ceo brian hastings participated in a nonqualified deferred compensation plan in 2020 in which $123,000 was deferred. There were zero distributions from the plan in 2020. The originally filed tax return inadvertently excluded the deferred compensation amount of $123,000. The amended return includes the following changes: form 990, part vii, section a, line 1(a) brian hastings column (f) was increased by $123,000 (from $41,961 to $164,961). Schedule j, part i, line 4b is now checked "yes". Schedule j, part ii, line 1, column c for brian hastings increased by $123,000 (from $22,800 to $145,800).”

“The university of nebraska foundation does not engage in lobbying activities. The university of nebraska engages an external firm for an insubstantial amount of lobbying activities and pays for those services from unrestricted funds held at the university of nebraska foundation.”

“Change in value of split interest agreements -1,335,490.”