Florida State University Foundation Inc.

“William t. Hold and anne hamilton have a family relationship.”

“The bylaws of the florida state university foundation, inc. Were amended may 29, 2015. Bylaws revisions for 2015: recommended changes to the bylaws are, in part, proposed for reading clarification or gender neutrality. Some changes are substantive. Following are explanations of the substantive changes. Article i, section 1 removes existing definition (4) to conform with gender neutrality changes. Section 2 *subsection a. Provides explicit guidance for trustee performance expectations *subsections b. And c. Were switched to change only their order of occurrence *subsection d. Adds two voting ex officio trustees to the board: a representative of the university deans and the chair of the fsu student foundation *subsection f. Removes chair of the student foundation as a non-voting ex officio *subsection j. Clarifies the term of the immediate past chair section 5, adds a section providing for removal of trustees as subsection e. Article ii section 1 clarifies in subsection f. And g. That the board chair can appoint anyone to committees, not necessarily just board members, and that the board chair may attend any committee meeting but may only have voting membership on three specified committees. Article iii section 1 clarifies language to allow the board chair to appoint persons to the committees who may not be trustees. This will allow the board chair to appoint university deans to sit as ad hoc members of different committees. Section 7 change to subsection b. Allows the trusteeship committee to consider performance of a trustee when reviewing for recommendations on successive trustee terms. Article viii section 1 deletion of the term "budgeted" allows the purchase by foundation employees of items that do not specifically appear in a budget. Foundation staff routinely purchase items that are not officially budgeted for at the beginning of the fiscal year. Article ix section 2 conforms the dissolution procedure of the foundation with similar procedures set out by the university bot in their regulations.”

“The following is the review and distribution process for the foundation's forms 990 and 990t. This process takes place each year prior to filing the forms with the irs: 1) the cfo reviews form 990 and form 990t with the ceo and resolves any issues or questions with the independent accounting firm that prepares the forms. It is the cfo and ceo's responsibility to confirm that these forms represent the foundation's financial condition for the period being reported and do not contain any untrue statements or omit any material facts; 2) the foundation's board of trustees has delegated to the audit committee the responsibility for the final review of the draft forms 990 and 990t and no further review by the board is required before the forms are filed with the irs. The committee's review is documented in the committee meeting minutes; 3) draft forms 990 and 990t are provided to each voting board member of the board of trustees prior to filing the forms with the irs. Distribution may be in the form of electronic mail, notification of a link to a website or actual mailing of the document.”

“Annually, all trustees are asked to complete a conflict of interest form. The board staff liaison monitors the process to ensure that completed forms are returned by all members with individual follow up when necessary. Hard copies of all forms are retained. It is the responsibility of the assistant secretary of the board to inform the board chair and committee chairpersons of any existing conflicts so that they can be sure that board members recuse themselves from any discussions and/or actions including votes on issues where there is a conflict of interest.”

“The top management, officers, and key employees reported on the fsu foundation form 990 are comprised of two employees of the florida state university and the remainder are employees of the fsu foundation. For employees of the florida state university, compensation for management is reviewed and set by the president of the florida state university, 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 foundations nationally. For employees of the fsu foundation, various industry surveys of salaries at comparable university related advancement organizations and other sources with comparable positions are utilized to determine compensation for new hires and to periodically validate current salary levels to decide if adjustments are necessary.”

“The foundation's governing documents and conflict of interest policy are available upon request. The foundation's financial statements, form 990 and 990-t are available on the foundation's website and upon request for the same period of disclosure as set forth in irc section 6104(d).”

“There has been no change to the process from the prior year.”