Arizona State University

“The association's investments are managed by the asu enterprise partners. We are charged 1.5% of the value as a fee.”

“Association members may consist of all persons who: (a) received a degree or advanced degree from asu (or its affiliates) or (b) have shown an active or vital interest in support of arizona state university and the association, and are recognized as friends of the university. Membership giving. Members and friends of the university may provide a gift to the association. The association staff shall set minimum giving levels as deemed necessary. Meetings and voting. Regular members will not have annual or other meetings except as called by the board of directors. If the board of directors calls a meeting, it will establish the procedure for giving notice of the meeting to those eligible to vote, the subject of the meeting, the size of a quorum, and the procedure for voting. The board of directors may also call for a mail ballot of eligible voting members, determine the subject of the ballot, and establish the procedures for such a ballot.”

“No committees are authorized to act on behalf of the governing body. All actions must be voted upon by the board of directors.”

“The association's tax returns are prepared by the tax accountants using the audited financial statements and additional information from the association's accounting staff. The director of finance reviews the return and provides a copy to the president/ceo for her review. Any questions the president/ceo has are answered and a copy of the returns is provided to all board members for review.”

“Board members are asked to provide us with information related to any conflict of interest they may have annually. Operationally, asuaa staff has to comply with state of arizona purchasing regulations, which adds another layer of protection from conflicts of interest. Key staff is informed of their requirement to comply with the arizona rules at hire.”

“The salary of the president of asuaa is determined by the president of asu under university guidelines. The salaries of senior staff (directors) are determined by the president of asuaa under university guidelines.”

“Tax returns are available upon request. The organization's governing documents, conflict of interest policy and financial statements are not available to the public.”

“Arizona state university alumni association (asuaa) staff are employees of arizona state university (asu). Asu issues and files the w-2s as required. Asuaa does not have any employees and, therefore, is not required to file, and does not file, any w-2's or other payroll tax reports. Since asuaa, through its funding by asu, reimburses the compensation of asu employees working full time for asuaa, this compensation expense is reported on lines 7 through 10 in the part ix statement of functional expenses.”

“The organization did not change its oversight or selection process during the year.”