University Foundations Operations and Integration
No final report submitted
Co-chairs:
GSU Co-Chair-President Mark Becker
GPC Co-Chair-President Rob Watts
GPC Co-Chair-President Rob Watts
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