Members of the corporation |
Form 990, Part VI, Section A, Line 6 |
The sole member of the corporation is the University of the Incarnate Word. |
Elections of the board |
Form 990, Part VI, Section A, Line 7a |
The directors, other than the initial directors, shall be appointed by the University of the Incarnate Word. |
Decisions subject to approval |
Form 990, Part VI, Section A, Line 7b |
The member shall approve any expenditure or grant equal to or in excess of $500,000 and any merger, acquisition, consolidation, or dissolution of the corporation, the creation, ownership, or acquisition of, or affiliation with, any other organization, and the borrowing or lending of money or the creation of indebtedness through the guaranty of another's debt or similar action. |
Governing body review of form 990 |
Form 990, Part VI, Section A, Line 11b |
A final copy of the Form 990 was distributed to board members electronically with the opportunity for them to ask questions and provide feedback. |
Monitoring of conflict of interest policy |
Form 990, Part VI, Section B, Line 12c |
Trustees and the executive council of the foundation are required to complete and sign a conflict of interest policy on an annual basis at the June board meeting. It is the continuing responsibility of the board members, executives, and officers to scrutinize their transactions and outside business interests and relationships for potential conflicts and to immediately make such disclosures to the board of trustees. The interested person shall leave the board meeting while the financial interest is discussed and voted upon. The remaining board members or committee shall decide if a conflict of interest exists. Affected board members abstain from voting when there is a conflict of interest. |
Availability of documents |
Form 990, Part VI, Section C, Line 19 |
Documents are available to the general public upon request. |
Other changes in net assets |
Form 990, Part XI, Line 9 |
Transfer from the university of the incarnate word - $7,536,500 |