Florida State University Foundation Inc.

“William t. Hold, board of trustees member and officer (secretary), for the board, and anne hamilton-hold, another trustee, have a family relationship.”

“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).”

“ROUNDING -1.”

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