University Foundations Operations and Integration

No final report submitted

Co-chairs:

Tasks:

• Merge or retain separate foundations (501(c)(3) status changes; 990 returns; audit reports, etc.)
• Address endowment restrictions (temporarily restricted and permanently restricted) & tax-exempt bond liabilities
• Identify cost/funding sources for changes foundation must make on PPVs
• Consider responsibility of 5-year facilities condition assessments
• Consider essentiality of each PPV project
• Analyze PPV insurance coverage to ensure adequate continuous coverage
• Consider opportunities for economy of scale on PPV projects
• Consider ReAing to lower cost to students
• Discern any change to Foundation impact on existing PPVs or financing
• Discern any impact on Foundation bylaws
• Consolidate or retain vendor contracts (e.g., Razor’s Edge, Investment Manager Agreements, etc.)
• Consolidate or retain bank accounts (approval account signatory approvals)
• Consolidate or retain corporate card accounts
• Review minute books for directors’ meetings and committee meetings and actions by written consent for past 3 years