Montana State University Foundation Inc

“The Executive Committee is composed of the Chair, Vice Chair, Past Chair, Secretary/Treasurer, the Chairs of the Budget, Investment, Governance, and Audit, and nominating committees. The committee shall be responsible for the oversight of all activities, operations, monies, and assets of the corporation, subject to review by the board. Between meetings of the board, the committee shall have general powers to decide all matters relating to the policy, property, and functions of the corporation, subject to the approval of the board, but shall not reverse the action of the board upon any matter which has been presented and acted on by the board. Powers shall include, but are not limited to, the authority to accept gifts, to acquire and dispose of property, to borrow money, and to pledge assets of the corporation as security.”

“The Form 990 was prepared by an independent accountant and reviewed by management. The Form 990 was provided to the governance and audit committee and board of governors for review. The committee and board then discussed the Form 990 with management and approved it prior to filing.”

“Annually, all officers and governors must sign the acknowledgement that they have read and complied with the conflict of interest policy. Any conflicts during the period are reported at this time and documented. Transactions with parties with whom a conflicting interest exists may be undertaken only if all six (6) of the following are observed: 1. The conflicting interest is fully disclosed; and 2. The person who has or appears to have a conflict of interest: A. shall be excluded from the discussion of the transaction; or B. if deemed to be in the best interest of the MSU Alumni Foundation, may provide information for and answer questions relating to the transaction as permitted by and limited by the individual presiding over the discussion of the transaction. By participating, the person shall not intentionally influence a decision on the matter; 3. The person who has or appears to have a conflict of interest shall be excluded from voting on the transaction; and 4. A competitive bid or comparable valuation exists if appropriate; and 5. The transaction has been approved as being in the best interest of the MSU Alumni Foundation; and 6. All decisions and actions pursuant to this provision are clearly documented in the minutes of the proceeding.”

“The CEO is evaluated annually by the Executive Committee of the Board of Governors. This committee meets in a closed session and discusses the CEO's performance during the year and comparable pay for the position and region. The CEO's compensation is approved by a majority vote of the Board of Governors, which includes all independent governors. This process was last completed in 2024. The President and CEO reviews the performance of other officers and key employees of the organization. The President and CEO reviews the compensation of each officer and key employee with input from the Director of HR, based on performance and comparable pay as determined from regional benchmarking surveys completed throughout the year. The other officers and key employees of the organization are evaluated annually by the president and CEO and given notice of their compensation during the performance review meeting. This process was last completed in 2024.”

“The governing documents and conflict of interest policies are available upon request. The financial statements are available on the Foundation's website.”

“Change in value of split-interest agreements 1,029,291. Uncollectable Pledge Expense -1,622,598.”