Portland State University Foundation

“Form 990, Part III, Line 1 Founded in 1963, the PSU Foundation raises and manages philanthropic contributions to Portland State University, Oregons only urban public research university. Over the last two decades, the foundation has transferred close to $300 million to PSU to support student and faculty success, program development, and capital construction. Serving more than 28,000 students a year, PSU is Portlands most vibrant resource for learning, scholarship, research, creativity, culture and workforce development. A legacy of educational access and urban partnership is central to PSU's mission - and the reason it is repeatedly named one of the most innovative colleges in the nation by U.S. News and World Report. The PSU Foundations current focus is a $300 million fund-raising campaign intended to grow private giving, deepen relationships with donors and alumni, and leverage philanthropy to advance the university. Giving priorities include academic scholarships for promising students with limited resources as well as faculty, program and capital support. In addition to direct fund-raising efforts,the PSU foundation directs donor stewardship activities, administers records,oversees reporting, and invests and manages financial resources in accordance with donor wishes. The PSU Foundations independent volunteer Board of Trustees helps promote PSUs mission and fund-raising priorities by leveraging expertise and relationships and committing personal resources.”

“FORM 990, PART I, LINE 7B: This IRC Section 512(a)(7) income reported here is not revenue and, therefore, is not reported as such on Form 990.”

“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. 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 prior to filing, the final form 990 is sent electronically to all members of the board of trustees, 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 Chair, 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 Trustees. 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 trustees 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. 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 may 2018, the personnel committee, comprised of independent members of the board of trustees, reviewed and recommended the compensation of the president/ceo of the organization based on comparability data (such as compensation surveys and forms 990 of other organizations) and performance metrics. In june 2018, the executive committee, comprised of independent members of the board of trustees, approved the compensation of the president/ceo. 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 the ceo, other 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 board's 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.”

“FORM 990, PART XI, LINE 9 The "Other Changes in Net Assets", other adjustment increase of $1,194.”