Kansas University Ophthalmic Foundation

“Kansas university ophthalmic foundation has members rather than stockholders.”

“The kansas university ophthalmic foundation has as its members the faculty of the department of ophthalmology at the university of kansas school of medicine who have met a one year service requirement, and who have been approved by a 2/3 vote of the trustees.”

“Certain actions and decisions of the board of trustees are subject to approval by a majority vote of the members.”

“The form 990 is prepared and reviewed by the organization's outside accounting firm, then sent to the organization's administrator for review. After any changes, the updated return is then sent to the board for review and comment. Once reviewed by the board and all questions and comments have been addressed, the final form 990 is provided to the board prior to filing with the tax authorities.”

“Members review the conflict of interest policy during the first quarter of each calendar year. Any potential conflicts are disclosed and resolved at that time.”

“The top official does not receive a salary as the top official but as a physician. Physician salaries are based on the association of university professors in ophthalmology - western region median benchmark for the specific academic rank, specialty, productivity and years of service of the employee.”

“Physician salaries are based on the association of university professors in ophthalmology - western region median benchmark for the specific academic rank, specialty, productivity and years of service of the employee.”

“The kansas university ophthalmic foundation provides upon written request presented at its office: its original form 1023, its latest form 990, its conflict of interest policy and its latest audited financial statements within 10 business days of the receipt of such request.”

“Outside services - physician 185,340 0 0 outside services 0 76,284 0”

“The foundation has signed an agreement to transfer all of its activities, assets, liabilities and fund balances into a new integrated clinical enterprise. The new enterprise is kansas university physicians (ein 48- 1163756) and is a 501(c)(3) exempt entity. The foundation began transferring some of its assets to this new enterprise during fye june 30, 2016. The existing entity will be resolved once all transfers to the new enterprise are complete. The foundation wholly owned an llc, ku eye surgery & laser center. As of 12/31/15, this investment including all assets, liabilities and net fund balance were transferred to the university of kansas hospital authority (ein 48-1202402) which is a governmental entity.”

“Liabilities transferred to kuha 2,253,894 liabilities transferred to kup 167,820 fixed assets transferred to kuha -1,855,511 cash transferred to kup -344,413 fixed assets transferred to kup -190,904 total 30,886”