Washburn University Foundation

“The Form 990 is presented to the Audit Committee for discussion and review and then the Board of Directors is notified that the Form 990 is available for review.”

“CONFLICT OF INTERESTIt is the Washburn University Foundation's (the Foundation) policy that actual conflicts of interest, and the appearance of a conflict of interest, be avoided. A conflict of interest arises in any situation which a trustee, officer, employee, or agent of the Foundation (collectively referred to as an "Foundation representative") is involved in an activity which could adversely affect his/her judgment with respect to the business of the Foundation or the University. If a conflict or potential conflict arises, the individual shall disclose, in writing, the existence of the conflict to the President of the Foundation prior to making, or participating in, any Foundation or University decision involving the situation in which the conflict of interest exists. Examples of situations in which a conflict of interest or the appearance of conflict of interest may be present, include, but are not limited to, the following situations:1.Purchasing supplies or equipment from a vendor in which an Foundation representative has an ownership interest or where a family member of an Foundation representative might benefit from the transaction.2.A directorship or active participation with an Foundation or an organization that transacts business with the Foundation.3.Use of the information obtained from the Foundation for personal gain or benefit (e.g., acquiring property for resale to the Foundation).4.Foundation representative acting as a consultant in regard to subjects where the representative gained information from the Foundation and that information is proprietary in nature.5.Disclosing to outside parties plans and other information on the Foundation when such information is not readily available to the general public.Foundation representatives may find that, as a result of their activities on behalf of the Foundation, they may be offered personal gifts, benefits, or services. Generally, such items should not be accepted. However, there are situations where a personal relationship evolves from Foundation business, and it may be appropriate for Foundation representatives to accept certain items in particular circumstances. These include meals, refreshments or entertainment (as long as the amounts spent on such activities are reasonable); gifts related to events or occasions such as promotions, weddings, birthdays, etc. (as long as the amounts spent on such item are reasonable); awards or recognitions provided by civic, educational, professional or other similar groups of organizations; or token items. Whenever it might appear that receipt of such an item is in return for Foundation business, then the offer and/or tender of the gift should be disclosed in writing to the President of the Foundation.Development officers shall not act as a donor's legal, financial or tax advisor. While, as a part of the development process, development officers may have occasion to comment on tax and financial matters, it is incumbent upon the development officer to urge the donor to seek the independent advice of his/her attorney and other advisors on all matters relative to a proposed gift or transaction.ANNUAL STATEMENT/ACKNOWLEDGEMENT FORMA.Trustees, officers, and agents will be asked to sign a statement that they are aware of and have complied with the provisions of this document. Such a statement will include an itemization of any conflict of interest for such trustee, officer or agent. Conflicts must be disclosed once incurred. Disclosure shall not be delayed due to the annual acknowledgement process.Trustees, officers and agents will receive an Annual Statement Acknowledgement Form.B.Acknowledgement forms for officers, directors and agents will be provided by and returned to the President of the Foundation.”

“WASHBURN UNIVERSITY FOUNDATION EXECUTIVE COMPENSATION POLICYGovernance and ProceduresWashburn University Foundation's executive compensation program is administered by the Executive Committee of the Board of Directors. The Executive Committee is responsible for establishing and maintaining a competitive compensation program for the president and selected key executives of the organization. To support the Executive Committee in its annual review of executive compensation, a special committee, the Compensation Committee, comprised of the Chair of the Board and 2-4 additional members of the Board appointed by the Governance Committee, will be responsible for gathering and reviewing compensation information of the competitive market. Based upon this information, the Compensation Committee will report and recommend a compensation package for the president and any other selected key executives to the Executive Committee for their discussion and recommendation to the Board of Directors. The Executive Committee annually completes the following tasks related to performance and compensation of the president:1.Establishes annual goals and reviews, confirms and adapts as necessary standing goals for president for upcoming year2.Assesses performance of the president by evaluating progress on annual and standing goals and achievements of the organization by gathering information from key individuals and using both qualitative and quantitative metrics as deemed necessary and appropriate 3.Reviews the report and recommendation of the Compensation Committee on the compensation program for the president considering relevant market information4.Informs the Board of Directors in Executive Session about the performance of the president (first meeting following end of fiscal year)5.Provides recommendations for compensation of the president to the Board of Directors in Executive Session for approval 6.Chair prepares a "confidential memo for the file" documenting the entire process of the committee. The memo will include how the performance review was conducted, how the comparative market survey information was selected and gathered, and any subsequent recommendations approved by the board. Any related information will be attached to the memo and will be filed in the board's confidential files and will be made available for the audit process. The chairperson of the Board will meet with the president to review and provide feedback on the performance assessment in a timely manner. Under normal circumstances, this meeting should occur prior to the board meeting the report on the performance assessment will be presented.The Executive Committee can authorize and commission an annual review by an independent consulting firm to evaluate the organization's executive compensation program against the competitive market. The evaluation would usually be completed and reviewed in the summer of each year and is intended to ensure the compensation program falls within a reasonable range of competitive practices for comparable positions among similarly situated organizations.During the summer of each year, the executive committee reviews and approves, for the president and any other selected key executives, base salaries, annual incentive opportunity adjustments, and objectives and goals for the upcoming year's annual incentive plan. The committee reviews and recommends to the board salary approval and incentive awards for the chief executive.While the president bears responsibility for establishing the salaries and bonuses of all Foundation staff except the president, the executive committee will annually receive a report from the president on the compensation of all individuals being reported as key employees or as one of the five highest compensated employees on the IRS Form 990 to ensure the compensation program falls within a reasonable range of competitive practices for comparable positions among similarly situated organizations.”

“Information made available on the Foundation's website.”

“Change in beneficial interest = $526622”