Florida State University Foundation Inc.

“The executive committee shall exercise the powers and authority of the board when the board is not in session. The committee shall include the chair, past chair, foundation president, treasurer, secretary, the university president or designee, the chair of the university board of trustees or designee, the president of the university faculty senate, and the chair of each standing committee. The committee shall consider, evaluate and analyze issues that have implications for changes to the board and make recommendations of appropriate action to the board. If the committee meets to exercise the powers and authority of the board when the board is not in session, the committee shall have no authority to alter, amend or repeal the articles of incorporation or bylaws or to elect trustees.”

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

“The bylaws of the florida state university foundation, inc. Were amended april 13, 2018. Changes were: 1) article iii, committees, section 6. Investment committee: replaced "a knowledge of or business acumen in the investment field" with "professional experience in the investments management field". 2) article iii, committees, section 7. Trustee committee: added "review and finalize a slate of officers submitted to the committee by the chair elect in even-numbered years. The finalized slate is then advanced to the full board for consideration during the spring meeting as a recommendation of the committee" to the duties of the trustee committee. 3) article viii, section 5. Foundation employees: removed this section which consisted of "foundation employees are not employees of the state of florida" because effective december 14, 2018, foundation employees transfer to fsu employment.”

“1) the cfo reviews forms 990 and 990-t with the executive vice president and resolves any issues or questions with the independent accounting firm that prepares the forms. It is the cfo and executive vice president'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 delegated to the audit committee the responsibility for the final review of the draft forms 990 and 990-t. 3) once the audit committee review is complete, the draft forms 990 and 990-t 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 and officers reported on the fsu foundation form 990 are comprised of two employees of florida state university and the remainder are employees of the fsu foundation. For employees of florida state university, compensation for management is reviewed and set by the president of the 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 by irc section 6104(d).”

“Change in value of split interest agreements -521,912.”

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