The University of Florida Foundation Inc

“Directors rahul patel and swati patel have a family relationship.”

“The executive board is composed of elected directors and ex-officio officers. Candidates for elected directors will be reviewed by the board nominating advisory committee and each candidate will be subject to confirmation by the university president prior to standing for election. The executive board will elect the directors from the confirmed board nominating advisory committee slate, subject to confirmation by the board of trustees before their term commences. The ex-officio directors are full voting members of the executive board and are: one appointee of the chair of the board of trustees or of his or her designee, the university president or his or her designee, two members appointed by the university president, the chair of the deans/directors development council, a faculty representative chosen by the executive vice president in consultation with university and faculty senate leadership to serve a two-year term, the immediate past chair of the foundation, and the chairs of the following designated committees: board nominating, audit, finance, governance, philanthropy and donor relations, and talent management. The chairs and vice chairs of each of the designated committees will be reviewed by the board nominating advisory committee, and elected by the executive board for 2 year terms from the board nominating advisory committee slate.”

“All amendments to the bylaws and articles are subject to approval by the university of florida board of trustees and the president. All amendments to the bylaws are subject to approval by the university of florida board of trustee chair, with notice to the vice chair, and the president.”

“As best practices dictates, the irs form 990 was reviewed and approved by the audit committee prior to its filing. The board of directors officially delegated the responsibility for reviewing the form 990 to the audit committee by motion adopted by the full board.”

“The conflict of interest provision of the foundation's bylaws requires disclosure of conflicts. At the beginning of each fiscal year, disclosure forms are sent to each director and officer. Any responses indicating a possible conflict are reviewed by legal counsel and the associate vice president to determine whether further action is necessary.”

“Compensation for management is reviewed and set by the president of the university of florida, or his designee, in accordance with the university's policies. These policies require that comparable data be used to determine that management is compensated fairly and competitively when compared to similar roles in other university foundations nationally. Discussions and decisions pertaining to matters of compensation are documented in accordance with university, foundation, and industry guidelines.”

“All are available on the university of florida foundation's website and upon request for the same period of disclosure as set forth in irc section 6104(d).”

“Board member w. Kent fuchs is an employee of the university of florida, a related organization. He is not compensated by the university of florida foundation nor does he perform services for the foundation as a university employee.”

“The mission of the university of florida foundation, inc. Is to exclusively support and enhance the university of florida, a comprehensive learning institution built on a land-grant foundation, in its mission of "excellence in education and research and shaping a better future for florida, the nation, and the world," as determined by the university of florida board of trustees, by creating awareness, building relationships, securing private support, recognizing donors, and performing all business-related matters to accomplish these purposes.”

“THE UNIVERSITY OF FLORIDA FOUNDATION, INC. RECEIVES AND ADMINISTERS PRIVATE SUPPORT FOR THE UNIVERSITY OF FLORIDA FOR RESEARCH FUNDING. Expenses: $21,476,300 Including Grants of: $21,476,300 Revenue: $687,902 THE UNIVERSITY OF FLORIDA FOUNDATION, INC. RECEIVES AND ADMINISTERS PRIVATE SUPPORT FOR THE UNIVERSITY OF FLORIDA TO CONSTRUCT NEW BUILDINGS AND RENOVATE EXISTING FACILITIES TO ENHANCE THE EDUCATION EXPERIENCE OF ALL STUDENTS. EXPENSES: $12,061,473. INCLUDING GRANTS OF: $12,061,473. REVENUE: $186,464. THE UNIVERSITY OF FLORIDA FOUNDATION, INC. RECEIVES AND ADMINISTERS PRIVATE SUPPORT FOR OTHER PURPOSES, INCLUDING, BUT NOT LIMITED TO, SPECIAL EVENTS, PROJECTS AND PROGRAMS WITH MULTIPLE OR BROAD PURPOSES. EXPENSES: $11,035,418. INCLUDING GRANTS OF: $11,035,418. REVENUE: $611,745.”

“The 323 employees reported on form 990 part v, line 2a, are legally university of florida employees, but 100% of their time is dedicated to the university of florida foundation, inc. The university of florida acts as an agent for payroll services for the foundation.”

“The increase in Line 15, Part I is driven by the removal of the actuarially determined net pension asset, net of deferred inflows of resources related to the termination of the UFF retirement plan all of which is allocated to management and general.”

“Reclassification of expense accounts on consolidated financial statements 3,934,280. Change in value of split interest agreements 1,434,433. Total to form 990, part xi, line 9 5,368,713.”

“The process for selecting the independent auditor has remained the same. The request for proposal (rfp) process is every ten years to align with the five year partner rotation.”