2016-04-08T07:12:47-05:00 2015-06-30 420714325 RSM US LLP 7351 OFFICE PARK PL MELBOURNE FL 32940 990 2014-07-01 596152180 THE FLORIDA STATE UNIVERSITY FOUNDATION INC FLOR 8506446000 2010 LEVY AVE BLDG B NO 300 TALLAHASSEE FL 32310 THOMAS W JENNINGS PRESIDENT 8506440749 2016-04-07 1 THERESA A BURDINE CPA P00362629 3217516200 2014 2016-08-17 19:52:53Z THOMAS W JENNINGS 2010 LEVY AVE BLDG B NO 300 TALLAHASSEE FL 32310 198601322 0 X WWW.FOUNDATION.FSU.EDU X 1960 FL THE FLORIDA STATE UNIVERSITY FOUNDATION ENHANCES THE ACADEMIC MISSION AND VISION OF THE FLORIDA STATE UNIVERSITY THROUGH ITS ORGANIZED FUNDRAISING ACTIVITIES AND FUNDS MANAGEMENT. 49 48 136 576 13716 -419082 43621682 57370590 741255 776832 18074026 11983420 1711621 1851773 64148584 71982615 18236522 20956904 0 0 22642908 24562493 550836 605826 11109558 20096386 20839592 61526652 66964815 2621932 5017800 615569510 606729813 14357315 17263223 601212195 589466590 X THE FLORIDA STATE UNIVERSITY FOUNDATION ENHANCES THE ACADEMIC VISION AND PRIORITIES OF FLORIDA STATE UNIVERSITY THROUGH ITS ORGANIZED FUNDRAISING ACTIVITIES AND FUNDS MANAGEMENT. THE FSU FOUNDATION ACCOMPLISHES ITS MISSION BY:O FOSTERING RELATIONSHIPS WITH ALUMNI AND FRIENDS, ADVOCATING CHARITABLE GIVING AND RAISING FUNDS ON BEHALF OF FSU;O SOLICITING CONTRIBUTIONS FOR ACADEMIC PURPOSES AS PART OF FSU'S OVERALL ADVANCEMENT EFFORT;O INVESTING AND DISBURSING FUNDS TO MEET CURRENT AND FUTURE NEEDS OF FSU; ANDO STRENGTHENING RELATIONSHIPS WITH DONORS TO FSU. 0 0 49339140 20956904 3039292 THE FLORIDA STATE UNIVERSITY FOUNDATION EXPENDS FUNDS FOR PURPOSES THAT ENHANCE THE ACADEMIC MISSION OF THE FLORIDA STATE UNIVERSITY. ACADEMIC SUPPORT INCLUDES SALARIES, SCHOLARSHIPS & FELLOWSHIPS, RESEARCH, CAPITAL FUNDING, EQUIPMENT & SUPPLIES, TRAVEL AND OTHER RELATED EXPENSES. THIS SUPPORT HELPS THE UNIVERSITY'S OUTSTANDING FACULTY INSPIRE STUDENTS, FOSTER AND ENHANCE STRONG ACADEMIC PROGRAMS, AND SERVE AS A KEY ELEMENT TO INSTITUTIONAL GREATNESS. EMINENT SCHOLARS AND PROFESSORSHIPS ARE PRESTIGIOUS POSITIONS HELD BY THE UNIVERSITY'S MOST ACCOMPLISHED FACULTY. SPENDING TO SUPPORT THESE POSITIONS MEANS THAT ACADEMIC EXCELLENCE WILL BE MAINTAINED. CURRICULUM DEVELOPMENT, INTERNSHIPS, INTERDISCIPLINARY WORK, EXPERIENTIAL LEARNING AND ACADEMIC ENRICHMENT ALL REQUIRE PRIVATE SUPPORT. 49339140 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 1 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 X 388 0 1 136 1 0 1 BD CA HK CJ EI 0 0 0 1 1 0 0 0 0 X 49 48 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 0 0 0 0 FL AK CA CO KY LA ME MD MA MI MN NH NJ NY ND OH OK OR SC UT WA WV WI MO X X HOLLY NEWELL 8506446000 INNOVATION PARK 2010 LEVY AVE BLDG TALLAHASSEE FL 32310 DANIEL BASS TRUSTEE 1.00 X 0 0 0 THOMAS BARTELMO TRUSTEE 1.00 X 0 0 0 GREGORY M BENNETT TRUSTEE 1.00 X 0 0 0 ALLAN BENSE TRUSTEE 1.00 X 0 0 0 BRETT BRACKIAK TRUSTEE 1.00 X 0 0 0 KEITH D CARR TRUSTEE 1.00 X 0 0 0 DEAN CASH TRUSTEE 1.00 X 0 0 0 BARBARA S COEN TRUSTEE 1.00 X 0 0 0 PETER H COLLINS TRUSTEE 1.00 X 0 0 0 THOMAS M CULLIGAN TRUSTEE 1.00 X 0 0 0 JOHN W CULVER TRUSTEE 1.00 X 0 0 0 SALVADOR DIAZ-VERSON TRUSTEE 1.00 X 0 0 0 JULIE DUNN EICHENBERG TRUSTEE/CHAIR ELECT 1.00 X X 0 0 0 ANDREW F FEINBERG TRUSTEE 1.00 X 0 0 0 DR SUSAN S FIORITO TRUSTEE 1.00 X 0 0 0 RALPH R GONZALEZ JD TRUSTEE/TREASURER 1.00 X X 0 0 0 DANIEL J GRANT TRUSTEE 1.00 X 0 0 0 LT GEN RET FL HAGENBECK TRUSTEE 1.00 X 0 0 0 ANNE HAMILTON TRUSTEE 1.00 X 0 0 0 THOMAS HERNDON TRUSTEE 1.00 X 0 0 0 MART P HILL TRUSTEE 1.00 X 0 0 0 NAN C HILLIS TRUSTEE 1.00 X 0 0 0 WILLIAM T HOLD TRUSTEE/SECRETARY 1.00 X X 0 0 0 VADM R GORDON S HOLDER TRUSTEE/PAST CHAIR 1.00 X X 0 0 0 PAUL G HUDSON TRUSTEE 1.00 X 0 0 0 MARVALENE HUGHES PHD TRUSTEE 1.00 X 0 0 0 PETER D JONES TRUSTEE 1.00 X 0 0 0 FRED E KARLINSKY ESQ TRUSTEE 1.00 X 0 0 0 DAVID B LANE TRUSTEE 1.00 X 0 0 0 SHARON A LICAMARA TRUSTEE 1.00 X 0 0 0 WILLIAM C LLOYD TRUSTEE 1.00 X 0 0 0 JOHN M LUSK TRUSTEE 1.00 X 0 0 0 STEPHANIE S LYNCH TRUSTEE 1.00 X 0 0 0 ROBERT B MANG TRUSTEE 1.00 X 0 0 0 THOMAS M MCALPIN TRUSTEE 1.00 X 0 0 0 HON WAYNE M MESSAM TRUSTEE 1.00 X 0 0 0 JOYCE BEERY MILES TRUSTEE 1.00 X 0 0 0 JANE E MORGAN TRUSTEE 1.00 X 0 0 0 FRANCIS J NARDOZZA TRUSTEE 1.00 X 0 0 0 SHERRILL RAGANS TRUSTEE 1.00 X 0 0 0 CRAIG A REUTLINGER TRUSTEE 1.00 X 0 0 0 ROBERT L STAHL TRUSTEE 1.00 X 0 0 0 BOB SASSER TRUSTEE 1.00 X 0 0 0 JANET L STONER TRUSTEE 1.00 X 0 0 0 LOUIS C TAORMINA TRUSTEE 1.00 X 0 0 0 JOHN W THIEL TRUSTEE/CHAIR 1.00 X X 0 0 0 JOHN THRASHER TRUSTEE 1.00 X 0 0 0 ELIZABETH J WALTERS JD TRUSTEE 1.00 X 0 0 0 TOM W JENNINGS JR PHD TRUSTEE/PRESIDENT 40.00 X X 287515 0 38223 ANDY A JHANJI EX. VP FOUNDATION 40.00 X 214102 0 49229 JERRY GANZ CFO/ASST TREASURER 40.00 X 142849 0 31064 PATRICK J CROWLEY VP ADV RELATIONS/ASST SECRETARY 40.00 X 128994 0 26982 LAURA POWELL INTERIM CFO/ASST TREASURER 40.00 X 88808 0 15237 PERRY FULKERSON VP, CENTRAL DEVELOPMENT 40.00 X 183684 0 41215 GLENN JACK VP, CONSTITUENT PROGRAMS 40.00 X 144765 0 24723 JEANNE PECHA VP, ADVANCEMENT SERVICES 40.00 X 146544 0 27683 MARK PANKEY ASSOCIATE DEAN, DEVELOPMENT 40.00 X 143038 0 29151 NANCY SMILOWITZ ASSISTANT DEAN, DEVELOPMENT 40.00 X 124069 0 31462 1604368 0 314969 13 0 1 0 EVENT PRODUCTION GROUP 2970 S WATERWORKS RD BUFORD GA 30518 EVENT SERVICES 774910 ARAMARK CATERING AT FSU 645 W JEFFERSON ST TALLAHASSEE FL 32304 CATERING SERVICES 752359 RUFFALO NOEL LEVITZ PO BOX 930256 ATLANTA GA 31193 SOFTWARE SOLUTIONS 497203 BLACKBAUD INC PO BOX 930256 ATLANTA GA 31193 SOFTWARE SOLUTIONS 316781 ANDREW'S CATERING 228 SOUTH ADAMS STREET TALLAHASSEE FL 32301 CATERING SERVICES 195772 11 673711 1803810 54893069 1162547 57370590 REGISTRATION/ ADMINIST 561000 776832 776832 776832 4253417 4253417 110751 110751 133128920 449650 125425008 423559 7703912 26091 7730003 7730003 234986 673711 770140 -535154 -535154 OTHER 900099 2262460 2262460 ADVERTISING 900099 13716 13716 2276176 71982615 3039292 13716 11559017 20879529 20879529 72375 72375 5000 5000 892096 402509 489587 20634253 12492029 2641188 5501036 1071906 299641 772265 874644 4047 382036 488561 1089594 457525 211320 420749 224145 14927 191608 17610 178398 35908 142490 605826 605826 2302742 1686153 389257 227332 918333 806244 2243 109846 3113116 2305167 360912 447037 171607 105358 57951 8298 862201 270229 591325 647 4161088 3467969 53213 639906 1117555 1055484 16608 45463 722 271 381 70 59945 59945 165227 72594 92633 ENTERTAINMENT 4381710 3100837 10934 1269939 BOOKS JOURNALS SUBSCRIP 915025 841201 18458 55366 PROVISION FOR UNCOLLECT 702952 702952 MEMBERSHIP DUES AND FEE 577433 562139 6085 9209 987393 401202 585380 811 66964815 49339140 6516117 11109558 16249653 18349544 26052014 36680000 16066613 20389016 4453258 3432962 41396 0 3173373 2979064 583635 194309 529215940 506203386 22907001 21480596 615569510 606729813 2516135 4591401 4000000 5500000 7841180 7171822 14357315 17263223 X 7992824 705486 184576879 170785202 408642492 417975902 601212195 589466590 615569510 606729813 5017800 -16763405 0 X X 0 1 X 1 0 X 39738220 51095024 58060799 43621682 57370590 249886315 39738220 51095024 58060799 43621682 57370590 249886315 4790572 245095743 1757915 4444838 2874434 5322867 4364168 18764222 43332 41096 11280 13716 109424 1305766 1987062 2262460 5555288 274315249 3341092 0.89350 0.89210 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 471320561 9927989 -5215109 5000792 11334496 8597718 451100435 415308139 9085740 69897942 4408024 10166034 8397202 471320561 370494800 19105053 48466127 4172626 9982090 8603125 415308139 386797725 14702652 -9480451 4163600 8886004 8475522 370494800 328243562 9807870 70561374 3488351 10008036 8318694 386797725 0.04480 0.87220 0.08300 1 0 516050 516050 0 2656199 2462564 193635 1124 450 674 194309 AGENCY LIABILITIES 1161800 ANNUITY OBLIGATIONS 6010022 7171822 X 55989350 -16763405 770140 -15993265 71982615 0 71982615 67734955 770140 770140 66964815 0 66964815 PART V, LINE 4: SPENDING FROM THE FOUNDATION'S ENDOWMENTS SUPPORTS THE ACADEMIC ACTIVITIES OF THE UNIVERSITY INCLUDING SCHOLARSHIPS AND PROGRAMS. PART X, LINE 2: THE FOUNDATION IS A NON-PROFIT CORPORATION EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(A) AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) WITH THE EXCEPTION OF ANY UNRELATED BUSINESS INCOME. THE FOUNDATION IS CLASSIFIED AS AN ORGANIZATION OPERATED FOR THE BENEFIT OF A COLLEGE OR UNIVERSITY OWNED OR OPERATED BY A GOVERNMENTAL UNIT DESCRIBED IN SECTION 170(B)(1)(A)(IV). THE FOUNDATION HAS REVIEWED ITS TAX STATUS AND RELATED FILINGS AND DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS FOR WHICH AN OBLIGATION NEEDS TO BE RECORDED PURSUANT TO THE INCOME TAX TOPIC (ASC 740). PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES NETTED AGAINST REVENUE 770,140. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES NETTED AGAINST REVENUE 770,140. 1 CENTRAL AMERICA/ CARIBBEAN 0 0 INVESTMENTS N/A 118548430 0 0 0 0 0 0 118548430 0 118548430 1 0 1 1 1 0 X 1 RUFFALOCODY LLC PO BOX 3018 CEDAR RAPIDS IA 52406 PHONE SOLICITATION 0 747234 605826 141408 747234 605826 141408 AL AK AR CA CO CT FL GA HI IL KS KY LA ME MD MA MI NJ NH MO MS MN NM NY NC ND OH OK OR PA RI SC TN UT WA WV WI VA 7 DAYS FESTIVAL 416858 352018 64840 26529 10185 343269 RINGLING INTL. 139574 107779 31795 32875 32460 191559 11 352265 213914 138351 40896 31949 60419 908697 673711 234986 100300 74594 595247 770141 -535155 SCHEDULE G, PART II AS REPORTED ON SCHEDULE G, NET INCOME FOR FUNDRAISING EVENTS DOES NOT INCLUDE ANY CHARITABLE CONTRIBUTIONS FROM FUNDRAISING EVENTS. EXCLUDING CHARITABLE CONTRIBUTIONS, AS PER SCHEDULE G INSTRUCTIONS, CAN RESULT IN NEGATIVE INCOME FOR PURPOSES OF SCHEDULE G, PART II, LINE 11. FUNDRAISING EVENTS NOT ONLY SERVE TO RAISE MONEY BUT ALSO INCREASE DONOR AWARENESS WITH HOPE OF FUTURE CONTRIBUTIONS IN SUPPORT OF THE MISSION. 1 BIG BEND HOSPICE 1723 MAHAN CENTER BLVD TALLAHASSEE FL 32308 592328806 501(C)3 30000 DONATION THE FLORIDA STATE UNIVERSITY 600 WEST COLLEGE AVENUE TALLAHASSEE FL 32306 591961248 501(C)3 18470686 1195523 FMV COMPUTERS, EQUIPMENT, AND FURNITURE SUPPORT SCHOLARSHIPS AND UNIVERSITY PROGRAMS THE FLORIDA STATE UNIVERSITY ALUMNI ASSOCIATION 1030 W TENNESSEE STREET TALLAHASSEE FL 32304 590705420 501(C)3 291028 PROGRAM SUPPORT THE FLORIDA STATE UNIVERSITY RESEARCH FOUNDATION 2000 LEVY AVENUE BLDG A STE 351 TALLAHASSEE FL 32310 593211153 501(C)3 428622 RESEARCH SUPPORT SEMINOLE BOOSTERS PO BOX 1353 TALLAHASSEE FL 32302 591561180 501(C)3 228094 PROGRAM SUPPORT JUNIOR ACHIEVEMENT OF NORTH FLORIDA 4049 WOODCOCK DRIVE SUITE 200 JACKSONVILLE FL 32207 591021800 501(C)3 12000 DONATION BARBIZON LIGHTING 115511 INTERCHANGE CIRCLE SOUTH MIRAMAR FL 33025 592263570 501(C)3 19311 PROGRAM SUPPORT HILLEL AT FLORIDA STATE PO BOX 1715 TALLAHASSEE FL 32302 596194457 501(C)3 15000 PROGRAM SUPPORT MOTE MARINE LABORATORY 1600 KEN THOMPSON PARKWAY SARASOTA FL 34236 590756643 501(C)3 61307 PROGRAM SUPPORT SOUTHERN SCHOLARSHIP HOUSE 322 STADIUM DRIVE TALLAHASSEE FL 32304 590939481 501(C)3 17767 SCHOLARSHIP SUPPORT TALLAHASSEE MEMORIAL HEALTHCARE FOUNDATION 1331 EAST SIXTH AVENUE TALLAHASSEE FL 32303 591727645 501(C)3 53000 MEDICAL RESEARCH SUPPORT UNIVERSITY OF FLORIDA FINANCIAL AID S-107 CRISER HALL PO BOX 114025 GAINESVILLE FL 32611 596002052 501(C)3 14737 SCHOLARSHIP SUPPORT YOUNG ENTREPRENEURSHIP SOCIETY PO BOX 3061110 TALLAHASSEE FL 32306 591961248 501(C)3 5000 PROGRAM SUPPORT 13 0 INDUSTRY AWARD 44 17975 RESEARCH STIPEND- ACADEMIC SUPPORT 29 54400 PART I, LINE 2: THE UNIVERSITY OVERSEES THE GRANT PROCESS. UNIVERSITY PERSONNEL DETERMINE WHO WILL RECEIVE AWARDS AND HOW THEY ARE AWARDED. INTERNAL AUDITS ARE PERFORMED ANNUALLY TO VERIFY THAT DONOR RESTRICTIONS ARE BEING COMPLIED WITH BY THE UNIVERSITY DURING THE GRANT PROCESS. AFTER MAKING GRANT SELECTIONS, THE UNIVERSITY GIVES THE FOUNDATION AN APPROVED DISBURSEMENT REQUEST TO TRANSFER THE FUNDS. AT THE TIME OF THE GRANT, THE ORGANIZATION AUDITS THE DISBURSEMENT TO ENSURE THAT IT MEETS THE DONOR'S INTENT.THE FOUNDATION KEEPS RECORDS OF THE DISBURSEMENTS AS PART OF ITS ACCOUNTS PAYABLE DOCUMENTATION. X X 1 1 0 0 0 0 0 0 0 0 0 TOM W JENNINGS JR PHD TRUSTEE/PRESIDENT 281395 0 0 0 6120 0 19403 0 18988 0 325906 0 0 0 ANDY A JHANJI EX. VP FOUNDATION 214102 0 0 0 0 0 31757 0 17913 0 263772 0 0 0 JERRY GANZ CFO/ASST TREASURER 142249 0 600 0 0 0 11071 0 20048 0 173968 0 0 0 PATRICK J CROWLEY VP ADV RELATIONS/ASST SECRETARY 128994 0 0 0 0 0 19667 0 7931 0 156592 0 0 0 PERRY FULKERSON VP, CENTRAL DEVELOPMENT 183684 0 0 0 0 0 28131 0 13745 0 225560 0 0 0 GLENN JACK VP, CONSTITUENT PROGRAMS 144765 0 0 0 0 0 17668 0 7407 0 169840 0 0 0 JEANNE PECHA VP, ADVANCEMENT SERVICES 146544 0 0 0 0 0 22231 0 6044 0 174819 0 0 0 MARK PANKEY ASSOCIATE DEAN, DEVELOPMENT 143038 0 0 0 0 0 18266 0 11522 0 172826 0 0 0 NANCY SMILOWITZ ASSISTANT DEAN, DEVELOPMENT 124069 0 0 0 0 0 19057 0 12973 0 156099 0 0 0 PART I, LINE 1A CHARTER FLIGHTS ARE PROVIDED FOR THE FOUNDATION PRESIDENT TO ATTEND SCHEDULED MEETINGS WHEN COMMERCIAL TRAVEL ALTERNATIVES ARE NOT AVAILABLE. WHEN CHARTER FLIGHTS ARE USED, OTHER FOUNDATION AND UNIVERSITY EXECUTIVES TRAVEL WITH THE PRESIDENT TO PREPARE EN ROUTE FOR THE MEETINGS. THE FOUNDATION PAID SOCIAL CLUB DUES, SPECIFICALLY FOR FUNDRAISING PURPOSES, FOR THE FOUNDATION PRESIDENT. PART I, LINE 3 THE FOUNDATION PRESIDENT, THOMAS W. JENNINGS, IS AN EMPLOYEE OF THE FLORIDA STATE UNIVERSITY. HIS COMPENSATION IS REVIEWED AND SET BY THE PRESIDENT OF THE FLORIDA STATE UNIVERSITY, OR HIS DESIGNEE, IN ACCORDANCE WITH THE UNIVERSITY'S POLICIES. THESE POLICIES REQUIRE THAT COMPARABLE DATA BE USED TO DETERMINE THAT MANAGEMENT IS COMPENSATED FAIRLY AND COMPETITIVELY WHEN COMPARED TO SIMILAR ROLES IN OTHER FOUNDATIONS NATIONALLY. SCHEDULE J, PART II DURING THE FISCAL YEAR ENDED JUNE 30, 2015, THE FOLLOWING WERE EMPLOYEES OF FLORIDA STATE UNIVERSITY: EMPLOYEE TITLE GERALD J. GANZ, JR. FOUNDATION CFO THOMAS W. JENNINGS FOUNDATION PRESIDENT MR. JENNINGS ALSO HOLDS THE TITLE OF VICE PRESIDENT FOR UNIVERSITY ADVANCEMENT AT FLORIDA STATE UNIVERSITY, AND, IN THIS ROLE, HE OVERSEES THE ACTIVITIES OF FOUR DIRECT SUPPORT ORGANIZATIONS OF THE UNIVERSITY, INCLUDING THE ACTIVITIES OF THE FSU FOUNDATION. FLORIDA STATE UNIVERSITY HAS BEEN DETERMINED TO BE AN UNRELATED ORGANIZATION FOR PURPOSES OF FORM 990 REPORTING. X 5 APPRAISAL X 81263 APPRAISAL, SELLING PRICE X 73 989809 SALE OF COMPARABLES X EQUIPMENT & SUPPLIES 16 85876 APRAISAL, SELLING PR X MEDIA 2 3098 COST/SELLING PRICE X CATERED FOOD 1 2500 COST/SELLING PRICE 5 0 1 0 PART I, COLUMN (B): ART - WORKS OF ART: THE FOUNDATION DOES NOT REPORT CONTRIBUTIONS OF ART AS REVENUE, AS PERMITTED UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES AS CODIFIED IN THE NOT-FOR-PROFIT ENTITIES TOPIC OF THE ASC (ASC 958). FORM 990, PART VI, SECTION A, LINE 2 WILLIAM T. HOLD AND ANNE HAMILTON HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS OF THE FLORIDA STATE UNIVERSITY FOUNDATION, INC. WERE AMENDED MAY 29, 2015. BYLAWS REVISIONS FOR 2015: RECOMMENDED CHANGES TO THE BYLAWS ARE, IN PART, PROPOSED FOR READING CLARIFICATION OR GENDER NEUTRALITY. SOME CHANGES ARE SUBSTANTIVE. FOLLOWING ARE EXPLANATIONS OF THE SUBSTANTIVE CHANGES. ARTICLE I, SECTION 1 REMOVES EXISTING DEFINITION (4) TO CONFORM WITH GENDER NEUTRALITY CHANGES. SECTION 2 *SUBSECTION A. PROVIDES EXPLICIT GUIDANCE FOR TRUSTEE PERFORMANCE EXPECTATIONS *SUBSECTIONS B. AND C. WERE SWITCHED TO CHANGE ONLY THEIR ORDER OF OCCURRENCE *SUBSECTION D. ADDS TWO VOTING EX OFFICIO TRUSTEES TO THE BOARD: A REPRESENTATIVE OF THE UNIVERSITY DEANS AND THE CHAIR OF THE FSU STUDENT FOUNDATION *SUBSECTION F. REMOVES CHAIR OF THE STUDENT FOUNDATION AS A NON-VOTING EX OFFICIO *SUBSECTION J. CLARIFIES THE TERM OF THE IMMEDIATE PAST CHAIR SECTION 5, ADDS A SECTION PROVIDING FOR REMOVAL OF TRUSTEES AS SUBSECTION E. ARTICLE II SECTION 1 CLARIFIES IN SUBSECTION F. AND G. THAT THE BOARD CHAIR CAN APPOINT ANYONE TO COMMITTEES, NOT NECESSARILY JUST BOARD MEMBERS, AND THAT THE BOARD CHAIR MAY ATTEND ANY COMMITTEE MEETING BUT MAY ONLY HAVE VOTING MEMBERSHIP ON THREE SPECIFIED COMMITTEES. ARTICLE III SECTION 1 CLARIFIES LANGUAGE TO ALLOW THE BOARD CHAIR TO APPOINT PERSONS TO THE COMMITTEES WHO MAY NOT BE TRUSTEES. THIS WILL ALLOW THE BOARD CHAIR TO APPOINT UNIVERSITY DEANS TO SIT AS AD HOC MEMBERS OF DIFFERENT COMMITTEES. SECTION 7 CHANGE TO SUBSECTION B. ALLOWS THE TRUSTEESHIP COMMITTEE TO CONSIDER PERFORMANCE OF A TRUSTEE WHEN REVIEWING FOR RECOMMENDATIONS ON SUCCESSIVE TRUSTEE TERMS. ARTICLE VIII SECTION 1 DELETION OF THE TERM "BUDGETED" ALLOWS THE PURCHASE BY FOUNDATION EMPLOYEES OF ITEMS THAT DO NOT SPECIFICALLY APPEAR IN A BUDGET. FOUNDATION STAFF ROUTINELY PURCHASE ITEMS THAT ARE NOT OFFICIALLY BUDGETED FOR AT THE BEGINNING OF THE FISCAL YEAR. ARTICLE IX SECTION 2 CONFORMS THE DISSOLUTION PROCEDURE OF THE FOUNDATION WITH SIMILAR PROCEDURES SET OUT BY THE UNIVERSITY BOT IN THEIR REGULATIONS. FORM 990, PART VI, SECTION B, LINE 11 THE FOLLOWING IS THE REVIEW AND DISTRIBUTION PROCESS FOR THE FOUNDATION'S FORMS 990 AND 990T. THIS PROCESS TAKES PLACE EACH YEAR PRIOR TO FILING THE FORMS WITH THE IRS: 1) THE CFO REVIEWS FORM 990 AND FORM 990T WITH THE CEO AND RESOLVES ANY ISSUES OR QUESTIONS WITH THE INDEPENDENT ACCOUNTING FIRM THAT PREPARES THE FORMS. IT IS THE CFO AND CEO'S RESPONSIBILITY TO CONFIRM THAT THESE FORMS REPRESENT THE FOUNDATION'S FINANCIAL CONDITION FOR THE PERIOD BEING REPORTED AND DO NOT CONTAIN ANY UNTRUE STATEMENTS OR OMIT ANY MATERIAL FACTS; 2) THE FOUNDATION'S BOARD OF TRUSTEES HAS DELEGATED TO THE AUDIT COMMITTEE THE RESPONSIBILITY FOR THE FINAL REVIEW OF THE DRAFT FORMS 990 AND 990T AND NO FURTHER REVIEW BY THE BOARD IS REQUIRED BEFORE THE FORMS ARE FILED WITH THE IRS. THE COMMITTEE'S REVIEW IS DOCUMENTED IN THE COMMITTEE MEETING MINUTES; 3) DRAFT FORMS 990 AND 990T ARE PROVIDED TO EACH VOTING BOARD MEMBER OF THE BOARD OF TRUSTEES PRIOR TO FILING THE FORMS WITH THE IRS. DISTRIBUTION MAY BE IN THE FORM OF ELECTRONIC MAIL, NOTIFICATION OF A LINK TO A WEBSITE OR ACTUAL MAILING OF THE DOCUMENT. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, ALL TRUSTEES ARE ASKED TO COMPLETE A CONFLICT OF INTEREST FORM. THE BOARD STAFF LIAISON MONITORS THE PROCESS TO ENSURE THAT COMPLETED FORMS ARE RETURNED BY ALL MEMBERS WITH INDIVIDUAL FOLLOW UP WHEN NECESSARY. HARD COPIES OF ALL FORMS ARE RETAINED. IT IS THE RESPONSIBILITY OF THE ASSISTANT SECRETARY OF THE BOARD TO INFORM THE BOARD CHAIR AND COMMITTEE CHAIRPERSONS OF ANY EXISTING CONFLICTS SO THAT THEY CAN BE SURE THAT BOARD MEMBERS RECUSE THEMSELVES FROM ANY DISCUSSIONS AND/OR ACTIONS INCLUDING VOTES ON ISSUES WHERE THERE IS A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE TOP MANAGEMENT, OFFICERS, AND KEY EMPLOYEES REPORTED ON THE FSU FOUNDATION FORM 990 ARE COMPRISED OF TWO EMPLOYEES OF THE FLORIDA STATE UNIVERSITY AND THE REMAINDER ARE EMPLOYEES OF THE FSU FOUNDATION. FOR EMPLOYEES OF THE FLORIDA STATE UNIVERSITY, COMPENSATION FOR MANAGEMENT IS REVIEWED AND SET BY THE PRESIDENT OF THE FLORIDA STATE UNIVERSITY, OR HIS DESIGNEE, IN ACCORDANCE WITH THE UNIVERSITY'S POLICIES. THESE POLICIES REQUIRE THAT COMPARABLE DATA BE USED TO DETERMINE THAT MANAGEMENT IS COMPENSATED FAIRLY AND COMPETITIVELY WHEN COMPARED TO SIMILAR ROLES IN OTHER FOUNDATIONS NATIONALLY. FOR EMPLOYEES OF THE FSU FOUNDATION, VARIOUS INDUSTRY SURVEYS OF SALARIES AT COMPARABLE UNIVERSITY RELATED ADVANCEMENT ORGANIZATIONS AND OTHER SOURCES WITH COMPARABLE POSITIONS ARE UTILIZED TO DETERMINE COMPENSATION FOR NEW HIRES AND TO PERIODICALLY VALIDATE CURRENT SALARY LEVELS TO DECIDE IF ADJUSTMENTS ARE NECESSARY. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. THE FOUNDATION'S FINANCIAL STATEMENTS, FORM 990 AND 990-T ARE AVAILABLE ON THE FOUNDATION'S WEBSITE AND UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN IRC SECTION 6104(D). FORM 990, PART XII, LINE 2C THERE HAS BEEN NO CHANGE TO THE PROCESS FROM THE PRIOR YEAR.