U C San Diego Foundation

“This 990 form was reviewed by the audit committee of the foundation's board. During such review, the committee had the opportunity to ask questions of accounting staff and the cpa preparing the return. The form 990 was then provided to the full board of trustees.”

“The uc san diego foundation requires a conflict of interest certification form from each trustee annually which discloses potential conflicts or lack thereof. The replies are reviewed by the corporate secretary and chief financial officer. If a conflict does exist, the impacted trustee recuses themselves from voting on that matter.dr. Ken kroner, a trustee of the foundation and chair of the foundations investment committee, is employed by blackrock inc as a principal in the management of the firm. The foundation has had longstanding investments in various blackrock products. The decision to retain and invest in blackrock products is determined by the investment committee of the foundation, and the foundations investment in these products is highly immaterial to blackrock as whole. The foundation is guided by an independent investment consultant and mr. Kroner recuses himself from any decisions related to the purchase or sale of these holdings.c. Chang's spouse is a ucsd employee.trustees r. Marren, e. Galinson, d. Bingham & s. Hart have a business relationshipwith trustee c. Weil.trustees g. Jacogs, j. Krinsk, & l. Schenk have a business relationship with trustee m. Peterson.”

“Financial statements, articles of incorporation, bylaws and conflict of interest policies are available on the foundation's website.”

“Client Note 1 - FORM 8886 LINE 7 b:THE FOUNDATION IS A PARTNER IN THE STATE STREET BANK AND TRUST COMPANY SSGA MSCI EAFE INDEX NL QP CTF, A COMMON TRUST FUND. IN THE NORMAL COURSE OF BUSINESS, THE PARTNERSHIP PURCHASES AND SELLS A LARGE VOLUME OF SECURITIES ON THE OPEN MARKET. IN CERTAIN INSTANCES, THESE SALES GENERATE LOSSES UNDER SECTION 988 IN EXCESS OF $50,000. THESE LOSSES OCCURRED AS PART OF THE PARTNERSHIP'S REGULAR INVESTING ACTIVITIES AND ALL TRADES THAT GENERATED THESE LOSSES AROSE IN THE ORDINARY COURSE OF BUSINESS, SINCE THE LOSSES ON THESE SALES EXCEEDED THE $50,000 THRESHOLD OF TREAS. REG. 1.601-5(b)(5), THE PARTNERSHIP AND THEREFORE THE FOUNDATION DISCLOSE THE LOSSES ON A PROTECTIVE BASIS. THE SALES THAT RESULTED IN A SECTION 988 LOSS IN EXCESS OF $50,000 ARE FROM SSGA MSCI UK INDESX NL QP CTF 04-6625074 IN THE AMOUNT OF $(55,970). THE FOUNDATION WAS NOT A PARTY TO THE TRANSACTION WITHIN THE MEANING OF TREAS. REG. 53.4965-4(a) AND IRS NOTICE 2007-18.”

“Actuarial liability adjustment = -$3680482”

“The uc san diego foundation is organized and operated solely for the support of the university of california, san diego campus.employees, salary and benefitsall compensation reported in the form 990 and supporting schedules is on a calendar year basis pursuant to the instructions to form 990.all uc san diego foundation staff are employees of the university of california and receive salary and benefits from the university. All compensated individuals listed in part vii of the form 990 are full time employees of the university. The hours disclosed are the estimated hours the employee spends solely on foundation business. Uc san diego foundation employees are also eligible to participate in the uc retirement 403(b) and 457(b) plans which are managed by the regents of the university of california. Contribution revenuethe uc san diego foundation solicits gifts in conjunction with the development office of the uc san diego campus, its faculty, and its volunteers. The uc san diego foundation is the primary recipient of donations received to support uc san diego. Gifts processed by the uc san diego foundation include 100% tax deductible donations plus membership and special event proceeds in which a portion of the contributions received may include quid pro quo items. The foundation discloses the value of any benefits returned to donors for their contributions both at the time of solicitation and on the gift receipt.”

“The total uc san diego foundation operating costs, including imputed facility costs, are shown on schedule a part ii section a line 3. The uc san diego foundation's operating costs, space and facility needs are provided by the uc san diego campus, as its primary supporting organization in compliance with university of california policy. The foundation has an agreement with the campus to ensure that the campus has resources to provide for the foundation's operating costs. The foundation grants the investment income from its current use funds to the campus annually for this purpose. Any excess income is used by the campus to cover other fundraising costs.”

“Per university of california system wide policies, contributions and endowment payout received by campus foundations must be expended for the purpose given directly by the campus and not by the campus foundation. Accordingly, contributions and endowment payout are transferred to the uc san diego campus as grants, when requested by the benefiting campus unit. The campus then expends the funds for the purposes the gifts were given, such as scholarships and fellowships, research, special event costs, etc. Therefore, all expenditures of gift funds are incurred by the campus within the university's accounting system and are not reflected on the foundation's accounting records.”