2023-05-04T16:22:10-05:00 2022-06-30 420714325 RSM US LLP 30 South Wacker Dr Suite 3300 Chicago IL 606063392 990 2021-07-01 356018940 Indiana University Foundation INDI 8128558311 PO Box 500 Bloomington IN 47402 J Thomas Forbes President and CEO 8128558311 2023-05-15 1 J Thomas Forbes XXX-XX-XXXX Rebekuh Eley P01247672 3126343400 2023-05-01 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z J Thomas Forbes PO Box 500 Bloomington IN 47402 1630826458 0 X www.iufoundation.iu.edu X 1936 IN To maximize private philanthropic support for Indiana University 48 47 296 1700 8466330 0 176613027 198920246 36926377 46078128 150847486 242675258 -1494580 9210671 362892310 496884303 161654597 316587449 0 0 24908413 25451631 0 0 20088079 44606523 47729555 231169533 389768635 131722777 107115668 4047053926 4146756017 508775286 754284023 3538278640 3392471994 X The Indiana University Foundation (IUF) maximizes private philanthropic support for Indiana University by fostering lifelong relationships with key stakeholders and providing advancement leadership and fundraising services (Continued on Schedule O, page 56) for campuses and units across the university. 0 0 60680578 59634765 7927619 Student Scholarship and Financial Aid support - Indiana University undergraduate and graduate students received more than $59 million in scholarships, fellowships, and awards from private gift support. Students received scholarship support across all programs and units of the University. With the University seeing record enrollment numbers, private gift support is critical to ensure that all willing students are able to explore their educational opportunities, experience college life, and efficiently manage tuition costs and debt loads. In FY2022, nearly 14,000 scholarships supporting University students were funded by private gift support. See Schedule O for Part III, Line 4a continued. IUF emphasizes and incentivizes philanthropic support of scholarships. Matching funds provided for donor gifts of $50,000 or more, incentivize giving to endowed scholarships and fellowships. IU and IUF development officers engage prospects with regard to the financial needs of students and are educated about student financial needs. 50520115 49649415 6600205 Faculty Support and Research - With approximately $49.6 million from IUF, University faculty and staff received additional support allowing for increased research opportunities and improved classroom experiences for all students. Private gift support helps meet the University's goal to attract and retain world-class faculty, which ultimately attracts the best and brightest students. During 2022, the number of endowed faculty positions (chairs, professorships, and fellowships) totaled over 560. 198937029 195508404 25990144 Academic & Student Program Support - The IUF provided over $195.5 million to the University to support academic & student programs. These funds enable dedicated students to develop skills and knowledge for growth and success by offering high-quality, responsive academic and student programs by employing best practices in teaching and learning; adding to the accumulated body of knowledge and creative work; enriching the community through cultural leadership and providing resources for problem solving. 12001711 11794865 1567964 Endowment Capital Additions and Facilities - The IUF provided over $11.7 million to the University in support of new building construction, renovation and equipment needs. State-of-the-art facilities help the University attract high-caliber faculty and students. These facilities provide space, environments, and technologies that promote the highest levels of teaching, learning and research. 30557567 3992196 Investment Management The primary investment objective of the IUF's Pooled Long Term Fund asset management program is to achieve an annualized total return (net of fees and expenses), through appreciation and income, equal to or greater than the rate of inflation plus any spending and administrative expenses thus, at a minimum, maintaining the purchasing power of those assets managed by the IUF. The assets are to be managed in a manner that will meet the primary investment objective, and where possible, to seek growth above the objective, while at the same time attempting to limit volatility for year-to-year spending.The IUF has adopted endowment investment and spending policies that attempt to provide a purchasing power of endowment assets. Under this policy, endowment assets are invested in a manner that is intended to yield a long-term rate of return that exceeds the distribution rate, inflation, and administrative fees of the endowment, while assuming a prudent level of investment risk. Actual results may not be sufficient to achieve this over some shorter time frames.Working with top-tier investment managers allows IUF to appropriately diversify our investment portfolio to achieve target returns with less volatility than achieved with traditional investments. Reducing volatility is imperative to those who rely on annual endowment income, such as students receiving renewable scholarships or faculty receiving annual salary support. Investment performance has historically exceeded our targets net of fees to managers. Over the past decade, we have outperformed our target weighted benchmark by 2.3% per annum. 42559278 11794865 5560160 352697000 1 1 0 0 0 0 1 0 1 1 1 1 0 0 1 1 1 0 0 0 1 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 124 0 1 296 1 1 1 0 0 0 0 1 1 1 2 0 0 1 0 0 0 X 48 47 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 AK CA CO DC KY MA MD ME MI MN NH NJ NY OH OR SC UT WA WV WI NV IN X X Catherine L Melvin 8128558311 PO Box 500 Bloomington IN 47402 X J Thomas Forbes President and CEO 40.00 X X 353167 0 0 Pamela S Whitten Chairman of the Board 0.00 X X 0 0 0 Kathryn R Booth Vice Chairman 0.00 X X 0 0 0 Gregg T Summerville Treasurer 0.00 X X 0 0 0 Aasif M Bade IUF Board Director 0.00 X 0 0 0 Alan B Graf IUF Board Director 0.00 X 0 0 0 Alisa L Hendrix IUF Board Director 0.00 X 0 0 0 Ann S Harrison IUF Board Director (until 6/1/22) 0.00 X 0 0 0 Curtis A Ferguson IUF Board Director 0.00 X 0 0 0 Cynthia S Skjodt IUF Board Director 0.00 X 0 0 0 Dale Ellen Leff IUF Board Director 0.00 X 0 0 0 David C Evans IUF Board Director 0.00 X 0 0 0 David G Elmore IUF Board Director (until 9/1/21) 0.00 X 0 0 0 David H Jacobs Jr IUF Board Director 0.00 X 0 0 0 Dena Rae Hancock IUF Board Director 0.00 X 0 0 0 Derrick Burks IUF Board Director 0.00 X 0 0 0 Donna Spears IUF Board Director 0.00 X 0 0 0 Glenn Scolnik IUF Board Director 0.00 X 0 0 0 Harry L Gonso IUF Board Director (until 10/1/21) 0.00 X 0 0 0 Isaac P Torres IUF Board Director 0.00 X 0 0 0 James Fielding IUF Board Director 0.00 X 0 0 0 James R Hodge IUF Board Director 0.00 X 0 0 0 James Robert Quigg III IUF Board Director 0.00 X 0 0 0 Jane M Jorgensen IUF Board Director 0.00 X 0 0 0 Jeff M Fettig IUF Board Director 0.00 X 0 0 0 John Timothy Morris IUF Board Director 0.00 X 0 0 0 Joseph T Morrow IUF Board Director 0.00 X 0 0 0 Julie Christopher IUF Board Director 0.00 X 0 0 0 Julie Davis IUF Board Director 0.00 X 0 0 0 Julie Inskeep IUF Board Director (until 6/1/22) 0.00 X 0 0 0 Kathleen Ligocki IUF Board Director 0.00 X 0 0 0 Kenneth W Kaczmarek IUF Board Director 0.00 X 0 0 0 Kim I Pressman IUF Board Director 0.00 X 0 0 0 Lacy M Johnson IUF Board Director 0.00 X 0 0 0 Linda S Watson IUF Board Director 0.00 X 0 0 0 Louis G Jordan IUF Board Director 0.00 X 0 0 0 MaryEllen Bishop IUF Board Director (until 07/21) 0.00 X 0 0 0 Melissa Proffitt Schmidt IUF Board Director 0.00 X 0 0 0 Michael D Shumate IUF Board Director 0.00 X 0 0 0 Michael J Mirro IUF Board Director (until 07/21) 0.00 X 0 0 0 Pat Shoulders IUF Board Director (until 07/21) 0.00 X 0 0 0 Patrica A Martin IUF Board Director 0.00 X 0 0 0 Randolph L Seger IUF Board Director 0.00 X 0 0 0 Richard C Searles IUF Board Director 0.00 X 0 0 0 Richard E Woosnam IUF Board Director 0.00 X 0 0 0 Rick L Johnson Jr IUF Board Director 0.00 X 0 0 0 Robert H McKinney IUF Board Director (until 2/1/22) 0.00 X 0 0 0 Robert L Zerbe IUF Board Director 0.00 X 0 0 0 Rodney M Miller Sr IUF Board Director 0.00 X 0 0 0 Rose C Mays IUF Board Director 0.00 X 0 0 0 Sandra E Laney IUF Board Director 0.00 X 0 0 0 Steven L Tuchman IUF Board Director 0.00 X 0 0 0 V William Hunt IUF Board Director (until 06/22) 0.00 X 0 0 0 Victor E Renuart IUF Board Director 0.00 X 0 0 0 W Michael Wells IUF Board Director 0.00 X 0 0 0 William Q Buckner IUF Board Director 0.00 X 0 0 0 Theodore D Dickman IUF Board Director 0.00 X 0 0 0 Joyce Q Rogers EVP for Development 40.00 X 313461 0 74957 Jeffrey D Stumpf EVP for Finance & Operations 40.00 X 304214 0 72194 Stacy Knapper General Counsel (until 07/21) 40.00 X 143150 0 41059 Phillippa Guthrie Gen Counsel & Corp Board Secretary 40.00 X 28554 0 12226 Steven A Martin Assistant Corporate Secretary 0.00 X 0 0 0 James Bergstrom Co-CIO 40.00 X 394423 0 82853 D Abe Weldy CO-CIO 40.00 X 394790 0 76915 Mary Bonk VP, Adv Proj Mgt, Support & Tech Serv 40.00 X 232380 0 53649 Sarah Beggs Chief of Staff & Sr VP, Strat Initiatives 40.00 X 208415 0 71002 Dorothy Metaj VP Development, Indianapolis 40.00 X 267677 0 57502 Scott Ryan Director of Investments 40.00 X 209785 0 81473 Paula Jenkins VP Development, Bloomington 40.00 X 243587 0 54009 Anne Wymore VP, Marketing & Annual Giving (until 02/22) 40.00 X 205407 0 64464 Jeffrey Lindauer AVP Development 40.00 X 225354 0 39405 Gary Stratten Former Exec VP Investments & CIO 0.00 X 516774 0 64350 4041138 0 846058 46 1 1 1 Cloud For Good LLC 1854a Hendersonville Road 252 Asheville NC 28803 Technology Services 955914 Champlain Investment Partners LLC 180 Battery Street Burlington VT 05401 Investment Management 855086 Snyder Capital Management LP 101 Mission Street San Francisco CA 94105 Investment Management 794432 Hylant Group 100 S College Avenue Bloomington IN 474045163 Insurance Services 739099 Cramer Rosenthal McGlynn LLC 75 Remittance Drive Chicago IL 60675 Investment Management 712625 17 198920246 24870809 198920246 Management Fees 900099 26763699 26763699 Real Estate 900099 6790762 6707057 83705 Development SV Support 900099 4415555 4415555 Events and Conferences 900099 300185 300185 7807927 7807927 46078128 114046769 114046769 76023 76023 1261919424 75149 1133308312 57772 128611112 17377 128628489 128628489 612407 576071 36336 36336 Income/Loss from K-1's 525990 8382625 8382625 Life Insurance Proceed 900099 694787 694787 Sponsorship 900099 20900 20900 9098312 496884303 45994423 8466330 243503304 316563449 316563449 24000 24000 4608006 1852137 2755869 268693 107998 160695 12672011 928657 5560336 6183018 2104882 648856 1456026 4410484 371463 1110898 2928123 1387555 427208 960347 75424 12912 54899 7613 3081144 143444 1867339 1070361 30030916 30030916 373770 167319 145188 61263 1362035 11740 437902 912393 2206523 22366 600862 1583295 2292714 921494 904448 466772 1447680 604068 412641 430971 304723 7471 240855 56397 3313581 261528 2197478 854575 2608799 2502078 76350 30371 233932 121950 96519 15463 Training & Recruitment 395055 240801 154254 3259 2145 841 273 389768635 352697000 16983556 20088079 196350560 120778084 260337699 267239544 47353381 27617263 130025188 35505961 90247972 94519227 1642354848 1525991108 1810409466 2110610791 4047053926 4146756017 6913664 7896880 350149375 513790734 277857 226006 0 149158847 151434390 83211556 508775286 754284023 X 148938403 -2862533 3389340237 3395334527 3538278640 3392471994 4047053926 4146756017 X 107115668 -227978579 -24943735 X 0 1 X 1 0 X 291244689 201530833 211341140 176613027 198920246 1079649935 291244689 201530833 211341140 176613027 198920246 1079649935 7298493 1072351442 33785966 15789637 10372746 30101721 114122792 204172862 36336 36336 3490970 2515297 381010 2543829 715687 9646793 1293505926 175175106 0.82900 0.87440 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 0.00 1 1 0 1 0 2.00 1 0 1 X 3001200803 107127991 11767259 90258453 3029837600 2185288413 142524070 771579535 98191215 3001200803 2232516054 115542040 -69455401 93314280 2185288413 2143899402 96296918 91176970 98857236 2232516054 1983221076 126401421 140187262 105910357 2143899402 0.02500 0.69100 0.28400 0 0 28467738 31649950 60117688 65186116 31484839 33701277 2194183 2122375 71808 2527201 1898747 628454 94519227 Institutional Funds, Cash and Equiv & Commercial Paper 31628707 F Private Equity 2078982084 F 2110610791 Split Interest Agreement Obligation 43633751 Collateral Under Securities Lending Agreement 16065762 Due to Brokers 23512043 83211556 X 221472034 -237574799 576071 -236998728 458470762 30030916 8382625 38413541 496884303 367278680 7540961 7540961 359737719 30030916 30030916 389768635 Part II, Line 9: IUF reports its conservation easement on the income statement consistent with treatment for ordinary revenues and expenses on the financial statements. The building with the historical easement is being reported on the balance sheet at cost and is being depreciated over the life of the building. Part IV, Line 2b: The Foundation invests and administers net assets owned by the University and its affiliates under a management and custodial agreement. These are reflected as liabilities on the Foundation's statements of financial position. Part V, Line 4: The intended uses of the organization's endowment funds are to support Indiana University as it carries out its missions of teaching, research, and public service. Part X, Line 2: Accounting Standards Codification (ASC) 740-10, Accounting for Uncertainty in Income Taxes, prescribes a comprehensive model for how an organization should measure, recognize, present, and disclose in its financial statements uncertain tax positions that an organization has taken or expects to take on a tax return. The IUF is subject to routine audits by taxing jurisdications; however, there are currently no audits for any tax periods in progress. The IUF believes it is no longer subject to income examinations for years prior to 2019. As of June 30, 2022 and 2021, the IUF has no uncertain tax positions. Part XI, Line 2d - Other Adjustments: Fundraising Event Expenses 576,071. Part XI, Line 4b - Other Adjustments: Income/Loss from K-1's 8,382,625. Part XII, Line 2d - Other Adjustments: Fundraising Event Expenses 576,071. Uncollectable Pledges 6,964,890. 1 Central America and the Caribbean 0 0 Investment 350437019 Europe (Including Iceland & Greenland) 0 0 Investment 59975056 North America 0 0 Investment 33077086 South Asia 0 0 Investment 1091449 0 0 0 0 0 0 444580610 0 444580610 0 0 1 0 1 1 1 0 Part I, Line 2: The grant and assistance payments are verified with internal documents to ensure donor intent and criteria have been met before the payments are made. Part I, line 3: The foreign activities that the IUF has been able to reasonably identify for either direct or indirect (through reimbursement) support have been listed in Schedule F. The IUF exists to support the activities of Indiana University. There are activities supported by Indiana University, both domestic and foreign, that are reimbursed from IUF accounts. The IUF does not have a reasonable means to determine precisely if expenses reimbursed to Indiana University are foreign or domestic in nature. Appropriate due diligence has been taken to identify those which may be reportable. Part III Accounting Method: Little 500 Races 601492 601492 14629 170182 129697 254500 Fall Cycling 10915 10915 2705 2543 1815 612407 612407 14629 172887 132240 256315 576071 36336 1 Indiana University 401 E 7th Street Bloomington IN 47405 356001673 Gov't Entity 195508404 0 Academic and Student Program Support Indiana University 401 E 7th Street Bloomington IN 47405 356001673 Gov't Entity 59610765 0 Student Scholarship and Financial Aid Indiana University 401 E 7th Street Bloomington IN 47405 356001673 Gov't Entity 49649415 0 Faculty Support & Research Indiana University 401 E 7th Street Bloomington IN 47405 356001673 Gov't Entity 11794865 0 Endowment and Capital Additions 1 0 Scholarships, general 4 24000 Part I, Line 2: The grant and assistance payments are verified with internal documents to ensure donor intent and criteria have been met before the payments are made. X X X 1 1 X X X 1 1 0 1 0 0 0 1 0 Gary Stratten Former Exec VP Investments & CIO 129362 0 383737 0 3675 0 36360 0 27990 0 581124 0 0 0 James Bergstrom Co-CIO 258649 0 135109 0 665 0 36360 0 46493 0 477276 0 0 0 D Abe Weldy CO-CIO 258856 0 135109 0 825 0 36360 0 40555 0 471705 0 0 0 Joyce Q Rogers EVP for Development 299496 0 0 0 13965 0 36360 0 38597 0 388418 0 0 0 Jeffrey D Stumpf EVP for Finance & Operations 280062 0 10000 0 14152 0 36360 0 35834 0 376408 0 0 0 J Thomas Forbes President and CEO 249583 0 0 0 103584 0 0 0 0 0 353167 0 0 0 Dorothy Metaj VP Development, Indianapolis 253326 0 0 0 14351 0 33483 0 24019 0 325179 0 0 0 Paula Jenkins VP Development, Bloomington 231674 0 0 0 11913 0 29772 0 24237 0 297596 0 0 0 Scott Ryan Director of Investments 134952 0 74533 0 300 0 26960 0 54513 0 291258 0 0 0 Mary Bonk VP, Adv Proj Mgt, Support & Tech Ser 223683 0 7500 0 1197 0 28286 0 25363 0 286029 0 0 0 Sarah Beggs Chief of Staff & Sr VP, Strat Initia 197492 0 10000 0 923 0 25404 0 45598 0 279417 0 0 0 Anne Wymore VP, Marketing & Annual Giving (until 205036 0 0 0 371 0 24647 0 39817 0 269871 0 0 0 Jeffrey Lindauer AVP Development 224667 0 0 0 687 0 26663 0 12742 0 264759 0 0 0 Stacy Knapper General Counsel (until 07/21) 125700 0 10000 0 7450 0 13862 0 27197 0 184209 0 0 0 Part I, Line 1a First Class or charter travel: The IUF maintains a policy governing all business expenses including travel. Should a business need (e.g. length of flight time, security concerns, lack of commercial air options, etc.) require the use of first-class or charter travel, the IUF Board of Directors has authorized the IUF CEO to approve its use. These costs were not treated as taxable income because the travel is business related. In compliance with the IRS intermediate sanctions rules and regulations, in order to be approved under IUF policy, first-class and charter travel must be deemed to be in the best interests of the IUF in order to merit approval. Travel for Companions: The IUF maintains a policy governing all business expenses which prohibits companion related expenses, except for the specifically defined role of Associate to the IUF President. The duties of this position, which are outlined in a formal policy and support the organization's mission, are fulfilled by the IUF President & CEO's spouse. The Associate to the IUF President incurs business related expenses on behalf of IUF, and those amounts are not treated as taxable. In all cases, travel for companions is considered in the IUF's efforts to ensure compliance with the intermediate sanctions law. Tax indemnification and gross-up payments: Tax indemnification and gross-up payments are only paid to staff in limited circumstances, and must be approved in accordance with IUF policies governing these types of payments. In the case of disqualified persons, indemnification payments are considered in the IUF's efforts to ensure compliance with the intermediate sanctions law. At least annually, the expenses incurred by all employees are reviewed to ensure appropriate taxation and reporting. Gross-up payments are established taking into account an estimated tax rate. However, employees receiving the payment are not grossed up for actual taxes incurred. The following gross-up payments were provided in 2021 in connection with the following items, and in all cases were treated as taxable income to the recipient: With the approval of the IUF Board of Directors: *allowances are made available to the IUF President & CEO for long-term disability and supplemental retirement payments to provide future retirement restoration. *allowances for vehicles are made available to certain Vice Presidents, Executive Vice Presidents and the IUF President & CEO. Part I, Line 4b Eligible executives participate in various non-qualified deferred compensation plans organized under code section 457(f). The exact purpose of each plan varies, but they include: compensation limitation make-up plans, deferral of a portion of incentive bonus type plans and other attributes of a deferred compensation plan. Any amount ultimately paid under the program to the executive is reported as compensation on Form 990, Schedule J, Part II, Column B in the year paid. Part I, Line 5 The Indiana University Foundation currently provides two incentive compensation plans: The Investment Incentive Compensation Plan is available to key personnel in the Investment Department. The primary goal of the plan is retention of key investment staff who are responsible for helping the IUF to achieve top quartile investment performance relative to its peers while reducing the volatility of performance over time. This plan is based on the premise of true value of dollars added by staff over an appropriate benchmark. IUF's Target Weighted Benchmark, and over a three-year period. The calculation of amount of bonus awarded is based on a formula similar to the industry standard and provides for a cap as a percentage of salary. This plan was developed and recommended by the Investment Committee of the IUF Board of Directors. The Major Gift Officers Evaluation/Incentive Program is designed to provide blueprints for and encourage our most gifted fundraisers to reach farther and inevitably increase their personal satisfaction and institutional value as development officers of Indiana University/Foundation. It rewards those who do so with eligibility for a year-end financial bonus. The calculation of amount of bonus awarded is based on definitive quantifiable indices for all participants, including dollars raised (both cash and deferred), opportunities (proposals), and contacts. Part I, Line 7 Management provides non-fixed payments in the form of bonuses available to all IUF staff from a discretionary fund. All bonuses are based on performance and merit. Part II: J Thomas Forbes was appointed the position of Interim President and CEO of Indiana University Foundation on January 1, 2021, and permanently appointed January 1, 2022. During this time, he also served as President for Indiana University's Alumni Association, from which he received compensation. IUF reimburses Indiana University, an unrelated organization, for the increase in salary related to his services provided to IUF during this period. X 26 503450 Appraised Value X 182452 Listed Value X 1 45217 Professional Appraisal X 462 18997350 Listed Value X 8 4948000 Appraised Value X Medical Products 2 105675 Actual Cost X Car Seats & Safety Accessories 205 41587 Actual Cost X Scientific Equipment 2 27150 Actual Cost X Musical Items 4 19928 Actual Cost 24 0 1 1 Part I, Column (b): The number of contributions listed in column (b) of Part I are either the number of contributions or the number of items received, depending on the nature of the contribution. Part I, Line 32b: IUF hires realtors and auctioneers to assist with selling donated items. IUF hires brokers to assist in selling gifts of stock and securities. Form 990, Part VI, Section B, line 11b A management team comprised of various members of the organization from the following departments review the Form 990, including all schedules line-by-line to determine accuracy and validity; President's Office, Legal Counsel, Accounting and Finance, Investments, Internal Audit, Development, Tax and Human Resources and Culture. The IUF engages an independent accounting firm to prepare and file the Form 990. The President & CEO then reviews and signs the Form 990 and the independent accounting firm signs as preparer. The IUF Audit Committee reviews the completed Form 990 including all schedules. Once signed, an electronic version of the public disclosure copy of Form 990 is made available to the IUF Board of Directors via the internet. The public disclosure copy is provided in order to more thoroughly protect the privacy of donors. The Form 990 is then filed electronically with the IRS. Form 990, Part VI, Section B, line 12c Each July, the IUF provides a copy of its Conflicts of Interest Policy to all directors and officers. Directors and officers are required to read and comply with the policy which requires, at a minimum, annually disclosing the existence or non-existence of any conflicts of interest, real or perceived, in writing to the IUF Board Secretary. A management team comprised of various members of the organization from the following departments review the policy to determine validity and completeness based on staff knowledge of IUF activities and transactions; President's Office, Legal Counsel, Accounting and Finance, Investments, Internal Audit, Development, Tax and Human Resources and Culture. Disclosures are reviewed by management and are provided to the Audit Committee Chair and Vice Chair. The Audit Committee Chair will also report any disclosure requiring action to the IUF Executive Committee and Committee on Directors and Governance. When applicable, the Audit Committee Chair will also report any disclosure requiring action to the IUF Board and all relevant Board committees. In addition to the Conflicts of Interest Policy, each July the IUF provides a background survey and a request for information for Form 990 disclosures to all officers, directors and key employees. As with the Conflicts of Interest, disclosures related to the survey and Form 990 are reviewed by staff and provided verbatim to the IUF Audit Committee Chair and Vice Chair. A report is then made by the Audit Committee Chair to the full Audit Committee. The Audit Committee Chair will also report any disclosure requiring action to the IUF Executive Committee and Committee on Directors and Governance. When applicable, the Audit Committee Chair will also report any disclosure requiring action to the IUF Board and all relevant Board committees. Form 990, Part VI, Section B, line 15 Each June, the IUF Compensation Committee approves the compensation arrangements for disqualified persons in accordance with IRS regulation section 53.4958-6 "Rebuttable presumption that a transaction is not an excess benefit transaction". Individuals defined as disqualified persons who receive compensation from the IUF include: the President & CEO; Executive Vice President for Finance and Operations & Assistant Corporate Secretary; Executive Vice President for Development; Executive Vice President and Co-Chief Investment Officer; Executive Vice President, General Counsel and Corporate Secretary; Senior Advisor, IUF; and the Assistant Director of Development, Parent Engagement. The compensation arrangement for each individual is approved in advance for the upcoming fiscal year period July 1 thru June 30 by the Compensation Committee which is an authorized body of the IUF Board of Directors. The Compensation Committee is composed entirely of independent directors who do not have a conflict of interest (within the meaning of paragraph (c)(1)(iii) of section 53.4958-6) with respect to the compensation arrangement for each disqualified person. The Compensation Committee determines if each compensation arrangement in its entirety is reasonable through the use of relevant information including, but not limited to, compensation levels paid by similarly situated organizations, both taxable and tax-exempt, for functionally comparable positions; the availability of similar services in the geographic area of the applicable tax-exempt organization; current compensation surveys compiled by independent firms; and actual written offers from similar institutions competing for the services of the disqualified person. Upon approval of the compensation arrangement for each disqualified person, the Compensation Committee provides written documentation noting the terms of the transaction that was approved and the date it was approved; the members of the Committee who were present during review of the arrangement that was approved and those who voted on it; the comparability data obtained and relied upon by the Committee and how the data was obtained; and, if applicable, any actions taken with respect to consideration of the arrangement by anyone who is otherwise a member of the Committee but who had a conflict of interest with respect to the arrangement. The Compensation Committee's most recent review and approval of compensation arrangements for all disqualified persons was June, 2022. Form 990, Part VI, Section C, line 18 We recognize that good governance practices provide safeguards to help ensure that our funds are consistently used in accordance with our mission, tax-exempt purpose, and donor intent. Copies of the IUF's Forms 990 and Form 990T can be requested through the IUF office. The current year 990 tax return is available through the IUF's website at www.iufoundation.iu.edu. Form 990 and 990T are available upon request for the past three years in accordance with IRC Section 6104(d) through the IUF's office. Form 990, Part VI, Section C, line 19 We recognize that good governance practices provide safeguards to help ensure that our funds are consistently used in accordance with our mission, tax-exempt purpose, and donor intent. Copies of all the IUF's governing documents and conflict of interest policy can be requested through the IUF office. The audited financial statements (past four years), conflict of interest policy and other specific governance documents are available through the IUF's website at www.iufoundation.iu.edu. Form 990, Part VII, Line 5: J Thomas Forbes was appointed the position of Interim President and CEO of Indiana University Foundation on January 1, 2021, and permanently appointed January 1, 2022. During this time, he also served as President for Indiana University's Alumni Association, from which he received compensation. IUF reimburses Indiana University, an unrelated organization, for the increase in salary related to his services provided to IUF during this period. Form 990, Part XI, line 9: Income/Loss from K-1's -8,382,625. Uncollectable Pledges -6,964,890. Split Interest Agreements -9,596,220. CVI GVF Holdings 8 Ltd PO Box 309 Grand Cayman CJ KY1-1104 Investment CJ IUF C 29048 0.99000 1 Charitable Remainder Trusts (90) Trust IN 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 CVI GVF Holdings 8 Ltd S