North Carolina State University Alumni Association Inc

“The draft 990 is distributed to the audit & investment committee for their review and is made available to all board members for their review prior to filing.”

“AT THE BEGINNING OF EACH BOARD MEETING, The PRESIDENT OF THE BOARD Reads THE FOLLOWING ETHICS POLICY: "AS CHAIR OF THE ALUMNI ASSOCIATION, IT IS MY RESPONSIBILITY TO REMIND ALL MEMBERS OF THE COMMITTEE OF THEIR DUTY UNDER THE STATE GOVERNMENT ETHICS ACT TO AVOID CONFLICTS OF INTEREST AND APPEARANCES OF CONFLICT OF INTEREST AS REQUIRED BY THIS ACT. EACH MEMBER HAS RECEIVED THE AGENDA AND RELATED INFORMATION FOR THIS MEETING. IF ANY MEMBER KNOWS OF ANY CONFLICT OF INTEREST OR APPEARANCE OF CONFLICT WITH RESPECT TO ANY MATTER COMING BEFORE THE ALUMNI ASSOCIATION AT THIS MEETING, THE CONFLICT OR APPEARANCE OF CONFLICT SHOULD BE IDENTIFIED AT THIS TIME." IF A CONFLICT IS IDENTIFIED, THE MEMBER WHO HAS THE CONFLICT SHOULD RECUSE HIMSELF OR HERSELF FROM ANY DISCUSSION OR CONSIDERATION OF THE AGENDA ITEM. RECUSAL MEANS LEAVING THE ROOM AND NOT PARTICIPATING IN ANY DISCUSSION OR CONSIDERATION OF THE AGENDA ITEM. THE BOARD CHAIR SHOULD SEE THAT THIS OCCURS BEFORE ANY DISCUSSION OF THE ITEM PRESENTING THE CONFLICT OR APPEARANCE OF CONFLICT TAKES PLACE.”

“The board of directors and officers of north carolina state university alumni association that do receive compensation are compensated by nc state university, a 170(c)(1) organization related to north carolina state university alumni association. Nc state university sets the compensation of these employees by acquiring comparability data which is reviewed and approved by independent persons with contemporaneous substantiation of the decision.”

“The 990 is listed on the website. Form 1023 (which was filed prior to july 15, 1987) is not publicly available.”

“The audited financial statements are available on the website http://foundationsaccounting.ofa.ncsu.edu/foundations/nc-state-university- alumni-association-inc. Other governing documents are made available upon request.”

“WEBSITE - HTTP://FOUNDATIONSACCOUNTING.OFA.NCSU.EDU/FOUNDATIONS/NCSTATE UNIVERSITY-ALUMNI-ASSOCIATION-INc Form 990, Part VI, Section A, Line 1a: Executive COMMITTEE 1. THE EXECUTIVE COMMITTEE SHALL BE COMPOSED OF THE PRESIDENT, VICE PRESIDENT, IMMEDIATE PAST PRESIDENT, SECRETARY-TREASURER AND SUCH ADDITIONAL MEMBERS OF THE BOARD AS ARE APPOINTED BY THE PRESIDENT, NOT TO EXCEED TEN. MEMBERS OF THE EXECUTIVE COMMITTEE SHALL SERVE UNTIL DECEMBER 31 OF THE CURRENT YEAR OR UNTIL THEIR SUCCESSORS ARE DULY CHOSEN AND QUALIFIED. THE EXECUTIVE DIRECTOR SHALL BE A MEMBER. 2. THE EXECUTIVE COMMITTEE SHALL POSSESS AND IS AUTHORIZED TO EXERCISE ALL POWERS OF THE BOARD OF DIRECTORS AND SHALL BE RESPONSIBLE FOR CONDUCT AND AFFAIRS OF THE ASSOCIATION IN THE INTERIM BETWEEN BOARD MEETINGS, EXCEPT THE FOLLOWING: ARTICLE III, SECTION 1B- ELECTION OF HONORARY MEMBERS ARTICLE III, SECTION 3A- FILLING VACANCIES AMONG ELECTED OFFICERS ARTICLE VII, SECTION 2- ADMINISTRATION AND MANAGEMENT OF PERMANENT FUNDS ARTICLE VII, SECTION 3- MAKING AGREEMENTS RELATIVE TO GIFTS OR BEQUESTS ARTICLE VIII- ADOPTING OR AMENDING BYLAWS 3. THE EXECUTIVE COMMITTEE SHALL MEET AT SUCH TIME AND PLACE AS MAY BE DESIGNATED BY THE PRESIDENT. NOTICE OF THE MEETING OF THE EXECUTIVE COMMITTEE SHALL BE COMMUNICATED TO MEMBERS THROUGH COMMONLY ACCEPTED COMMUNICATION METHODS (E-MAIL, MAIL, FAX, TELEPHONE) AT LEAST FIVE DAYS IN ADVANCE OF SUCH MEETING. IF THE COMMITTEE MEETS BY TELECONFERENCE, NOTICE SHALL BE ISSUED TO THE MEMBERS AS SOON AS POSSIBLE IN ADVANCE OF THE TELECONFERENCE. TWO-THIRDS OF THE EXECUTIVE COMMITTEE MEMBERS SHALL CONSTITUTE A QUORUM FOR THE TRANSACTION OF OFFICIAL BUSINESS AND AN AFFIRMATIVE VOTE OF THE SIMPLE MAJORITY WILL CONSTITUTE AN ACT OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL ALSO BE EMPOWERED TO ACT BY THE WRITTEN CONSENT OF THE SIMPLE MAJORITY OF THE EXECUTIVE COMMITTEE, ALTHOUGH NOT FORMALLY CONVENED. IN THE EVENT THE EXECUTIVE COMMITTEE SHALL BE EQUALLY DIVIDED ON ANY MATTER, SUCH MATTER SHALL BE REFERRED TO THE BOARD OF DIRECTORS. Form 990, Part VI, Section A, Line 4: Article III: Organization Section 3: Officers Added Language: C. Individuals serving in the following roles at North Carolina State University shall serve as ex-officio officers of the Association: The Associate Vice Chancellor for Alumni Relations and Executive Director shall serve ex-officio as the Assistant Secretary of the Association. The Associate Vice Chancellor for Finance and Administration and University Treasurer and the Chief Fiscal Officer of the Association shall serve ex-officio as Assistant Treasurers of the Association without a vote. Form 990, Part VI, Section A, Line 4: Article III: Organization Added: Section 4. Conflicts of Interest If any matter should come before the Board of Directors, or any of its committees, in such a way as to give rise to a conflict of interest under N.C. Gen State 55A-8-31 (as amended from time to time or the corresponding provision of any future law), any interested Director shall make full disclosure of the material facts of the matter and the Director's interest involving the conflict and, if requested, the interested Director withdraw from the meeting for so long as the matter shall continue under discussion, except to answer any questions that might be asked regarding the situation. If the matter involves an item of business for which a Special Meeting was called, the interested Director shall not be counted to establish a quorum, nor shall the interested Director participate in the deliberation or vote on it. Furthermore, any corporate transaction in which a Director has a direct or indirect interest must be authorized, approved or ratified in good faith by a majority, not less than two (2) of the Directors who have no direct or indirect interest in the transaction even though less than a quorum; provided, however, no such transaction shall be authorized, approved or ratified by a single Director. For purposes of thi”

“Increase IN CASH SURRENDER VALUE OF LIFE INSURANCE 1,516 Increase IN VALUE OF SPLIT INTEREST AGREEMENT 24,106 DECREASE IN VALUE OF CHARITABLE LEAD TRUST (37,528) TRANSFERS FROM OTHER UNIVERSITY ASSOCIATED ENTITIES 35,995 TOTAL TO FORM 990, PART XI, LINE 9 24,089”