Form 990, Part VI, Line 1a Delegate broad authority to a committee |
THE UNIVERSITY OF IOWA FACILITIES CORPORATION'S BOARD OF DIRECTORS THROUGH ITS BYLAWS, DELEGATES AUTHORITY TO ACT ON ITS BEHALF TO AN EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE HAS AND EXERCISES ALL OF THE POWERS OF THE BOARD BETWEEN MEETINGS OF THE BOARD TO THE EXTENT PERMITTED BY LAW. REPORTS OF THE ACTION OF THE EXECUTIVE COMMITTEE ARE SUBMITTED TO THE BOARD AT ITS NEXT MEETING. THE EXECUTIVE COMMITTEE CONSISTS OF THE CHAIR OF THE BOARD AND AT LEAST TWO OTHER MEMBERS OF THE BOARD. IN ADDITION, THE PRESIDENT OF THE UNIVERSITY OF IOWA IS AN EX OFFICIO MEMBER WITH VOTING POWER. ALL MEMBERS OF THE EXECUTIVE COMMITTEE ARE MEMBERS OF THE BOARD OF DIRECTORS. |
Form 990, Part VI, Line 7a Members or stockholders electing members of governing body |
AS PROVIDED IN THE BYLAWS, THE BOARD OF DIRECTORS OF THE ORGANIZATION IS TO BE ELECTED BY A MAJORITY VOTE OF THE BOARD OF DIRECTORS OF THE UNIVERSITY OF IOWA CENTER FOR ADVANCEMENT. |
Form 990, Part VI, Line 11b Review of form 990 by governing body |
THE FORM 990 IS PREPARED AND REVIEWED BY AN INDEPENDENT ACCOUNTING FIRM. THE ACCOUNTING STAFF AT THE STATE UNIVERSITY OF IOWA FOUNDATION CONDUCTS A DETAILED REVIEW OF THE FORM 990. FOLLOWING THE DETAILED REVIEW, THE PREPARED FORM 990 IS MAILED TO ALL BOARD MEMBERS TO REVIEW PRIOR TO THE FILING DATE. |
Form 990, Part VI, Line 12c Conflict of interest policy |
THE UNIVERSITY OF IOWA FACILITIES CORPORATION'S (UIFC) BOARD OF DIRECTORS, BOARD COMMITTEE MEMBERS AND OFFICERS (RESPONSIBLE PERSONS) HAVE A DUTY TO CONDUCT ACTIVITIES OF THE UIFC WITH THE HIGHEST ETHICAL STANDARDS AND TO MAKE DECISIONS CONCERNING THE UIFC SOLELY TO ADVANCE ITS MISSION AND INTERESTS. THE CONFLICT OF INTEREST POLICY IS TO ASSIST THE UIFC AND RESPONSIBLE PERSONS IN IDENTIFYING SITUATIONS THAT PRESENT POTENTIAL OR ACTUAL CONFLICTS OF INTEREST AND TO SPECIFY PROCEDURES FOR MANAGING THEM. (1) REPORTING PROCEDURES: EACH RESPONSIBLE PERSON MUST ANNUALLY COMPLETE AND SUBMIT TO THE UIFC A STATEMENT SETTING FORTH ANY AND ALL POTENTIAL AND ACTUAL CONFLICTS OF INTEREST THAT ARE ANTICIPATED TO OCCUR IN THE COMING FISCAL YEAR. THE ANNUAL STATEMENT SHALL DISCLOSE, AS FULLY AS POSSIBLE, THE CIRCUMSTANCES OF EACH ACTUAL OR POTENTIAL CONFLICT. THE ANNUAL STATEMENT WILL BE INITIALLY REVIEWED BY THE TREASURER AND, IF DETERMINED NECESSARY AFTER THE TREASURER'S REVIEW, BY THE CHAIR OF THE BOARD. IN ADDITION TO THE ANNUAL DISCLOSURE STATEMENT, UPON BECOMING AWARE OF ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST NOT PREVIOUSLY DISCLOSED. A RESPONSIBLE PERSON MUST PROMPTLY REPORT IN WRITING TO THE CHAIR OF THE BOARD THE PREVIOUSLY UNDISCLOSED CIRCUMSTANCES. THE CHAIR'S ANNUAL STATEMENT AND SUPPLEMENTAL REPORTS, IF ANY, SHALL BE REVIEWED BY THE EXECUTIVE COMMITTEE. (2) DETERMINATION OF CONFLICT: THE EXECUTIVE COMMITTEE, WITHOUT THE AFFECTED RESPONSIBLE PERSON PRESENT, SHALL DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS. (3) ACTION AND RECUSAL: THE BOARD OR COMMITTEE SHALL DETERMINE WHETHER TO AUTHORIZE, APPROVE OR RATIFY THE ARRANGEMENT/TRANSACTION BASED SOLELY ON WHETHER IT IS IN THE BEST INTERESTS OF UIFC IN PERFORMING ITS MISSION. THE AUTHORIZATION, APPROVAL OR RATIFICATION MAY NOT BE MADE BY A SINGLE DIRECTOR. |
Form 990, Part VI, Line 19 Required documents available to the public |
THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. |
FORM 990, PART VI, LINE 2 FAMILY/BUSINESS RELATIONSHIPS AMONGST INTERESTED PERSONS |
ALL OFFICERS AND DIRECTORS HAVE A BUSINESS RELATIONSHIP. |