Universal Technical Institute Foundation

“The executive committee consists of three or more directors 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 form 990 is prepared by the organization's public accounting firm based on information provided by management. Once the draft is available, it is reviewed by management and any changes incorporated into the filing. Once this detailed review is complete, the draft of the form 990 is presented to the board of directors for their review and comments prior to filing with the irs.”

“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 were provided under a secondment agreement between the organization and universal technical institute, an unrelated organization, which ended 9/30/20. Techforce then established its own payroll and hired the executive director as well as the other employees directly. The executive director's compensation is determined by the board of directors. The foundation does not have any other offices or key employees.”

“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.”

“Professional services: program service expenses 130,615. Management and general expenses 59,509. Fundraising expenses 50,402. Total expenses 240,526.”

“Scholarship refunds 69,061.”

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