University of California Irvine Foundation

“Relationship disclosure hazem chehabi and salma chehabi, trustees of the foundation, have a family relationship eugene choi and carol choi, trustees of the foundation, have a family relationship. Jack langson and shanaz langson, trustees of the foundation, have a family relationship, shawn miller and marci lerner miller, trustees of the foundation, have a family relationship, james peterson and sheila peterson, trustees of the foundation, have a family relationship, richard ruszat and cheryll ruszat, trustees of the foundation, have a family relationship, mark santora and kathleen santora, trustees of the foundation, have a family relationship.”

“Process of review the board of trustees has delegated the review of the form 990 to the audit committee. The foundation's controller works closely with the outside accounting firm it engages to review the return; and the final draft of form 990 is also reviewed by the chief financial officer prior to providing the draft to the audit committee. Subsequent to its review, the audit committee chair reports back to the board chair, president, cfo, and controller regarding its oversight of the form 990 and the final draft is provided to the entire voting board before the return is filed.”

“Monitoring and enforcing compliance of conflict of interest policy: the executive committee of the board is charged with monitoring proposed or ongoing transactions for conflicts of interest and addressing any potential or actual conflicts. Pursuant to the conflicts of interest policy, an annual conflict of interest questionnaire, aimed at determining any family and business relationships and transactions or other transactions that may pose a potential conflict, is distributed to all covered persons (i.e. Board members, officers, executive leadership or key employees). Covered persons are required to disclose real or potential conflicts at the time when such conflicts arise. When someone becomes a covered person and annually thereafter, each covered person is required to sign a statement affirming that he/she: (1) has received a copy of the conflicts of interest policy; (2) has read the policy and understands said policy; and (3) agrees to comply with all requirements of the policy, including completing the conflicts of interest questionnaire. The completed questionnaires are reviewed by the executive committee and any persons with actual or potential conflicts are informed via written communication. The procedures for addressing any conflict of interest includes, but is not limited to, the following: (1) the conflicting interest is fully disclosed to the board; (2) the interested person responds to factual questions related to the substance of the transaction or arrangement being considered, after which he/she shall leave the meeting; (3) the person with the conflict of interest is excluded from the discussion and approval of such transaction; (4) alternatives to the proposed transaction are investigated, competitive bids or comparable valuations are obtained; (5) any conflicting issues during the course of a board meeting which cannot be resolved is referred to the governance committee; and (6) the transaction or action must be approved by a majority of disinterested persons.”

“Process of determining compensation of the ceo and other officers the foundation does not have any employees and no officers or other employees received any compensation from the filing organization (e.g., foundation). During fye 6/30/2022, all were compensated by the university of california, irvine, a related organization. Senior management, including the chancellor, are compensated in accordance with university of california regents policy 7701. A number of factors are considered to determine fair and reasonable compensation including: performance, peer comparability, external market comparability, scope and breadth of experience and responsibilities. Compensation of the chancellor is approved by the regents.”

“Public disclosure of documents while federal tax laws do not mandate that the organization's governing documents, conflict of interest policy and financial statements be made available for public inspection, the organization makes it financial statements available upon request.”