University of Maryland Foundation Inc

“Director Vahos and Director Ulrich are officers for the same company which constitutes a business relationship”

“The USMF's Board of Directors made the following changes to it's Bylaws. Added a section noting that the nomination and election of board Directors will be governed by an established process that must be approved by the Governance and Executive Committees. Clarified that ex-officio and emeritus Directors are nonvoting. Revised the definition of quorum for full board meetings from 1/3 to a majority. Clarified the requirements for calling a special meeting, which now requires a written request to the Chair of voting Directors equal to more than 10% of the total number of voting Directors. Changed the term of Directors nominated to serve on the Investment Committee to one-year terms. Clarified that the term year, as referenced with regard to the term of Directors, shall align with the Foundation's fiscal year, ending on June 30 and that any Director elected mid-year will serve a truncated first term”

“This form is reviewed by the CFO and the upper level financial staff at the USMF office. The Board of Directors then delegates the detailed review of the 990 form to the Audit Committee. Once reviewed, the document is forwarded to the full board with notation of the Audit Committee for comment from all the Director's, prior to the filing of the Form 990.”

“The Foundation monitors and enforces the Conflict of interest Policy through the Foundation's General Counsel who reviews and reports to the Governance Committee and the Audit Committee. The Governance Committee decides if any action is warranted.”

“The Executive Committee of the Board overseas the compensation process which includes their review and approval of CEO, CIO and CFO/COO compensation - supported by the review of comparability studies, an independent consultant and evaluation and discussion of performance.”

“See Schedule O, statement 3.”

“All documents are made available on our website.”

“The University of Maryland Foundation, Inc DBA also includes the University of Maryland Baltimore County Foundation, the University of Maryland Global Campus Foundation, the University of Maryland Eastern Shore Foundation, the Universities of Shady Grove Foundation, the University of Maryland Center of Environment Center Science Foundation and the University System of Maryland at Hagerstown Foundation.”

“This includes Outside Services, Research and Non Student Awards”

“Includes transfers per Board Resolutions and Change in Value of Split-Interest Agreements”