Usf Research Foundation Inc

“The university of south florida president appoints up to 2 faculty members and up to 10 non-usf faculty members to the board of directors. One member of the board of directors is a designee member of the university of south florida board of trustees.”

“The property affairs, activities and concerns of the research foundation shall be vested in the board of directors. All management functions shall be exercised by the board of directors, subject to delegation by the board to the officers and the executive committee. The president of the university of south florida shall have authority and responsiblity to monitor and control the use of the university's resources and name in accordance with applicable florida laws and board of trustees and university of south florida rules and policies. Changes to the articles of incorporation may be made by two-thirds (2/3) vote of the board of directors at any meeting of the board, and in all instances, with the written concurrence of the president of the university. Any director or directors (except for the director appointed by the chairman of the board of trustees) may be removed from office by the president of the university of south florida.”

“The audit committee reviews and recommends acceptance of the form 990 to the board of directors prior to its submission. Also, a copy of the form 990 is sent to the full board of directors for their review prior to filing with the irs.”

“THE CONFLICT OF INTEREST POLICY REQUIRES ANNUAL DISCLOSURE, PROVIDES FOR A HEARING PROCESS FOR SUSPECTED VIOLATIONS AND CORRECTIVE OR DISCIPLINARY ACTION SHOULD THAT HEARING PROCESS DETERMINE A VIOLATION. PRIOR TO TAKING A SEAT AS A DIRECTOR OR A COMMITTEE MEMBER, AND ANNUALLY THEREAFTER AS LONG AS SUCH PERSON CONTINUES TO SERVE AS A DIRECTOR OR COMMITTEE MEMBER, SUCH PERSON SHALL COMPLETE, SIGN AND DELIVER TO THE PRESIDENT OF THE ORGANIZATION A DISCLOSURE STATEMENT AFFIRMING THAT SUCH PERSON (A) HAS RECEIVED A COPY OF THE ORGANIZATION'S CONFLICTS OF INTEREST POLICY, (B) HAS READ AND UNDERSTANDS THE POLICY, (C) HAS AGREED TO COMPLY WITH THE POLICY, AND (D) UNDERSTANDS THAT THE ORGANIZATION IS A CHARITABLE ORGANIZATION AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. in the event of a conflict, that person will recuse himself/herself from all discussions and votes.”

“THE FOUNDATION ADHERES TO AN OUTLINED PHILOSOPHY AND STRATEGY WITH regards to how it DETERMINEs COMPENSATION FOR its EXECUTIVE DIRECTOR. THE BASIC PRINCIPLES ARE TO ENSURE PAY IS COMPETITIVE, IS ENHANCED FOR THE ACQUISITION AND APPLICATION OF COMPETENCIES/CONTRIBUTIONS VALUED BY USF, AND IS ENHANCED FOR SUCCESSFUL OUTCOMES. THE USF RESEARCH FOUNDATION DOES NOT HAVE A FORMAL PROCESS FOR DETERMINING COMPENSATION OF OTHER OFFICERS AS IT DOES NOT COMPENSATE ANY OF ITS BOARD MEMBERS, AND THE OFFICERS ARE COMPENSATED THROUGH A RELATED TAX EXEMPT ORGANIZATION (THE UNIVERSITY OF SOUTH FLORIDA). key personnel in support of the foundation are subject to compensation, classification and all other personnel policies of the university TO ENSURE REASONABLENESS.”

“It is the research foundation's policy, upon receipt of a reasonable and specific request in writing, to make public research foundation financial information, including expenditures from research foundation funds, documentation regarding completed business transactions and information about the investment and management of research foundation assets; however, the research foundation will not release proprietary information. The financial statements are made available on the usf research foundation website.”

“PARTNERSHIP INVESTMENT Income -20,928.”