Arizona State University Alumni Association

“The investments of the asu alumni association are managed by asu enterprise partners (formerly asu foundation).”

“The number of board members was increased to a range of 16 to 21, including officers. Operational details related to how some activities are managed were removed from the bylaws. The best example is how the chapters are managed and did not belong in the bylaws.”

“Members of the association are classified as non-paying or paying (annual or life) members. All graduates of arizona state university are members of the arizona state university alumni association.”

“The committees do not have the auithority to act. They must bring recommendations to the full board for a vote.”

“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. The returns are provided to all members of the audit committee for review. Association staff answers all questions raised by the committee members. After the audit committee's review, the audit committee chair recommends approval and filing of the tax returns to the full board. The full board of directors' votes on the recommendation and after board approval the tax returns are filed. A copy of the tax returns is provided to all board members.”

“Board members are asked to provide us with information related to any conflict of interest they may have annually. Operationally, asuaa has to comply with state of arizona purchasing regulations, which adds another layer of protection from conflicts of interest.”

“The salary of the president of asuaa is determined by the president of asu under university guidelines. The salaries of senior employees are determined by the president of asuaa under university guidelines.”

“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.”

“Arizona state university alumni association has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. There was no change in the process during the tax year.”