Portland State University Foundation

“Form 990, Part III, Line 1 Created in 1963, the Portland State University Foundation is responsible for raising and managing private resources to advance Portland State University's priorities and mission to be a leading urban University. In 2014, Portland State University Advancement and University Alumni Relations merged with the Portland State University Foundation into one philanthropic entity. The Foundation's fund-raising efforts include: capital campaigns, endowments, scholarship funds, planned gifts, corporate and foundation partnerships, annual giving programs, academic research, campus development, and access and outreach for promising students with limited resources. Contributions received by the Foundation may be in cash, marketable securities, real and personal property, and gifts-in-kind. These contributions include endowment gifts to be invested in perpetuity, remainder interests in charitable remainder trusts, and gift annuities for the benefit of the University. In addition to fundraising efforts for the University, the Foundation provides donor stewardship, donor receipting and reporting, endowment and investment management, and maintains donor and accounting records. The Foundation's independent volunteer Board of Trustees supports the mission of the Foundation by engaging in private fundraising efforts and promoting the mission and priorities of the University through its relationships, resources, and guidance.”

“FORM 990, PART VI, SECTION B, LINE 11A To protect the privacy of our donors, schedule B is redacted from the version of the 990 that was reviewed by the Board of Trustees.”

“Form 990, part vi, section b, line 11b the form 990 is carefully reviewed in draft form by the members of the foundation's audit committee. The form 990 is discussed in detail at the audit committee meeting in february. Kpmg, the tax preparer, attended the audit committee meeting. All reviewers are given time to respond to any revisions. After incorporation of all revisions and approximately one week prior to filing, the final form 990 is sent electronically to all members of the board of directors, with an e-mail calling their attention to portions of the form most likely to be read by the public and funders.”

“FORM 990, PART VI, SECTION B, LINE 12C The purpose of the Conflict of Interest Policy is to protect the Foundation's interest when it is contemplating entering into a transaction or arrangement that might benefit the private interest of an officer or director of the Foundation. Pursuant to the Conflict of Interest Policy, any interested person must disclose the existence of his or her financial interest and must be given the opportunity to disclose all material facts to the Board President, and to directors and members of committees with board delegated powers considering the proposed transaction or arrangement. The determination whether a conflict of interest exists shall be made by the Board of Directors. Pending such determination, the interested person shall recuse himself or herself from participation in the review of and voting upon the transaction or arrangement in which that person has a possible conflict of interest. If a more advantageous transaction or arrangement is not reasonably attainable under circumstances that would not give rise to a conflict of interest, the board shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the Foundation's best interest and for its own benefit and whether the transaction is fair and reasonable to the Foundation and shall make its decision as to whether to enter into the transaction or arrangement in conformity with such determination. The conflict of interest policy is monitored by an annual distribution of questionnaires to all officers, directors and key employees. Each year, the organization has a 100% response rate to the questionnaires. If the board determines that an interested person has failed to disclose an actual or possible conflict of interest, the board shall take appropriate disciplinary and corrective action. Each director, principal officer and member of a committee with board delegated powers annually shall sign a statement which affirms that such person has received a copy of the conflict of interest policy, has read and understands the policy, has agreed to comply with the policy, and understands that the Foundation is a charitable organization and that in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.”

“FORM 990, PART VI, SECTION B, LINE 15 In April 2016, the executive committee, comprised of independent members of the Board of Trustees, reviewed and determined compensation to hire the new president and CEO of the organization based on comparability data (such as compensation surveys and Forms 990 of other organizations). Annually as part of the budget process, the Finance Committee and subsequently the Board of Trustees, reviews and approves the compensation of all Foundation employees including officers and key employees. Compensation for all employees of the organization is determined using compensation data from salary surveys and 990 filings for similar positions and organizations in Oregon and nationally; and as appropriate the local labor market for similar positions in the private sector and governmental organizations. The Boards process and decisions are documented in the Board minutes.”

“FORM 990, PART VI, SECTION C, LINE 19 The foundation's audited financial statements are posted on the organization's website. The foundation's governing instruments, conflict of interest policies, and other documents and policy statements may be made available upon request.”