Alliant Educational Foundation

“As noted earlier, the organization sold its assets associated with its university academic programs to an unrelated third party. The acquirer retained the organization's former name, alliant international university, and the organization changed its name to alliant educational foundation (aef). Aef continues as a nonprofit, public benefit 501(c)(3) organization. In addition to the change in name, our principal location or headquarters is now located in san diego, ca. Our governing documents such as the bylaws of the board of directors remained largely the same as before with the following three significant changes: 1) aef's mission is to provide scholarship funding for students and research funding for faculty members at alliant international university and other institutions of higher education. 2) aef is also 20% shareholder in alliant international university inc. And our role in the governance of the university is outlined in a shareholder agreement with the majority shareholder. This agreement calls for the formation of a board of directors that, along with aiu's board of trustees, provides oversight of the operations of the university. This board of directors has representatives from both shareholders, including three members of the aef board of directors. 3) upon dissolution, aef's remaining assets after liabilities will be distributed to another nonprofit fund or organization that exists for charitable purposes.”

“The form was prepared in conjunction with outside accountants for senior management review. The executive committe was provided drafts for their review prior to filing with the irs. However, the final form is signed by the board chair.”

“Persuant to alliant educational foundation policy, on or before june 15th each year, alliant educational foundation general counsel circulates the alliant educational foundation's required annual conflict of interest and disclosure policy and disclosure form to officers, trustees/directors, and key employees for review and completion. Alliant educational foundation general counsel reviews all disclosure forms and advises the audit committee on any potential or actual conflicts of interest. Alliant educational foundation's policy also requires all affected individuals to update and disclose conflicts as they arise betweeen disclosure cycles. Alliant educational foundation counsel would, if a cliflict is disclosed, counsel the individual as to prohibited trnsactions. Trustees/directors recuse themselves from any discussion and action related to potential or actual conflicts of interest.”

“The compensation committee of the board of trustees/directors annually reviews and sets the compensation of alliant educational foundation's president. The compensation committee utilizes, at the commencement of each contract term, compensation data, an independent compensation consultant, and independent legal councel to negotiate the president's contract. The compensation committee also annually evaluates the president's performance. The president reviews and approves compensation for other officers and key employees. Alliant educational foundation's human resources department researched and compiles comparative data for the positions using the databases from the chronicle of higher education and aiccu in order to benchmark appropriate compensation. The human resources department also reviews compensation for all employees to ensure that proposed compensation falls within alliant educational foundation's adopted employee classification system.”

“AVAILABLE UPON REQUEST.”

“As also noted elswhere in this return, the organization sold its assets associated with its university academic programs to an unrelated third party and ceased operations of these program services. The organization's ongoing program services will be to provide scholarship and research funding to institutions of higher education, including the acquirer of the organization's academic programs.”