Arkansas State University System Foundation Inc.

“A copy of the Form 990 was reviewed by the President and audit committee of the exempt organization before the return was filed.”

“At the first board meeting following the annual board meeting, and at the first meeting of each committee with board-delegated powers following the annual board meeting, and at such other times as the board or executive committee may deem appropriate, the board, or executive committee shall conduct a review of the foundation's activities to ensure that the foundation is operating in a manner consistent with accomplishing its charitable purposes and that its operations do not result in private inurement or impermissible benefit to private interests. In the instance where a conflict of interest arises, the board or executive committee shall: (1) require the interested person to leave the meeting during the discussion of, and vote on, the transaction or arrangement that results in the conflict of interest; provided, however, that the interested person may make a presentation at the meeting prior to leaving; (2) appoint, if it deems appropriate, a non-interested person or committee to investigate alternatives to the proposed transaction or arrangement; and (3) determine, by a majority vote without the interested person voting, that the transaction or arrangement is in the foundation's best interests and for its own benefit; is fair and reasonable to the foundation; and, after exercising due diligence, determine that the foundation cannot obtain a more advantageous transaction or arrangement with reasonable efforts under the circumstances. Any interested person who violates this conflict of interest policy shall be subject to appropriate discipline including removal from office.”

“The organization's policy documents and financial statements are available on the organization's website.”

“Dues & Memberships : Program service expenses 37,035. Management and general expenses 0. Fundraising expenses 0. Total expenses 37,035. Student Activities : Program service expenses 32,046. Management and general expenses 0. Fundraising expenses 0. Total expenses 32,046. Honararium/Contract Services : Program service expenses 27,136. Management and general expenses 0. Fundraising expenses 0. Total expenses 27,136. Repairs & Maintenance : Program service expenses 0. Management and general expenses 15,942. Fundraising expenses 0. Total expenses 15,942. Bank/ Credit Card Fees : Program service expenses 0. Management and general expenses 13,085. Fundraising expenses 0. Total expenses 13,085. Equipment Rental/ Maintenance : Program service expenses 9,975. Management and general expenses 0. Fundraising expenses 0. Total expenses 9,975. Florist : Program service expenses 9,890. Management and general expenses 0. Fundraising expenses 0. Total expenses 9,890. Employee & Faculty Awards : Program service expenses 9,352. Management and general expenses 0. Fundraising expenses 0. Total expenses 9,352. Printing & Publications : Program service expenses 8,324. Management and general expenses 0. Fundraising expenses 0. Total expenses 8,324. Postage & Shipping : Program service expenses 6,367. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,367. Telephone : Program service expenses 0. Management and general expenses 5,446. Fundraising expenses 0. Total expenses 5,446. Training & Development : Program service expenses 5,392. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,392. Donor Acknowledgement : Program service expenses 3,865. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,865. Auto Repair & Maintenance : Program service expenses 3,655. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,655. Emergency Assistance : Program service expenses 3,510. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,510. Training & Development : Program service expenses 0. Management and general expenses 2,731. Fundraising expenses 0. Total expenses 2,731. Hospitality : Program service expenses 2,681. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,681. Consulting Services : Program service expenses 0. Management and general expenses 1,700. Fundraising expenses 0. Total expenses 1,700. Exhibit Supplies : Program service expenses 0. Management and general expenses 1,435. Fundraising expenses 0. Total expenses 1,435. Exhibit Awards : Program service expenses 931. Management and general expenses 0. Fundraising expenses 0. Total expenses 931. Employee Awards : Program service expenses 0. Management and general expenses 618. Fundraising expenses 0. Total expenses 618. Taxes : Program service expenses 0. Management and general expenses 610. Fundraising expenses 0. Total expenses 610. Music Performance : Program service expenses 300. Management and general expenses 0. Fundraising expenses 0. Total expenses 300. Taxes : Program service expenses 50. Management and general expenses 0. Fundraising expenses 0. Total expenses 50.”

“Transfers to Arkansas State University -3,199,805. Transfers to Arkansas State University Alumni Association, Inc. 55,158. Transfers to ASU Real Estate Foundation -4,451. Transfers to ASU Red Wolves Foundation -10,012. Change in Split Interest Agreement -28,761.”

“The review process has not changes from the previous year.”