Universal Technical Institute Foundation

“The executive committee consists of three or more directions and may exercise when the board is in session, all of the powers of the board in the management of the business and affairs of the foundation with the exception of nondelegable powers provided. However, the executive committee must report in writing to the board at the next meeting of the board all the actions taken by the executive committee between meetings of the board. The executive committee may not fill vacancies on the board or on any committee of the board, adopt, amend or repeal the articles of incorporation or bylaws of the foundation, and may not fix compensation of the directors as such powers are nondelegable pursuant to the foundation's bylaws.”

“The organization amended their bylaws to allow their annual meeting to be held in the first quarter of the year.”

“Prior to filing the return, a draft copy is submitted to the executive director and then to the finance committee. The return is provided to the board of directors for review to ensure that the information presented on the return is an accurate description of the activities of the foundation.”

“Annually, each director, officer and member of a committee with board authorized powers signs a statement which affirms (s)he has received a copy of the conflicts of interest policy, read and understands the policy, agrees to comply with the policy and understands the foundation is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one of more of its tax-exempt purposes. The organization also conducts periodic reviews to ensure the foundation operates in a manner consistent with its charitable purpose. These reviews specifically look at compensation arrangements with disqualified persons and whether partnerships, joint ventures, and arrangements with management organizations conform to the foundation's written policies.”

“The executive director's services to the organization are provided under a secondment agreement between the organization and universal technical institute, an unrelated organization. Universal technical institute sets the salary and the organization's board of directors manages services and direction.”

“The foundation makes its form 1023, form 990 returns, governing documents, conflict of interest policy, and financial statements available to the public for inspection upon request.”

“Working to collaborate with america's automotive trust, in order to maximize efficiencies and deliver greater mission delivery, including sharing a common ceo.”

“Scholarship refunds 125,899. Bad debt expense -60,000.”

“The process has not changed from the prior year.”