TY 2021 Form 990 Schedule O

Instrumentl eFile RenderObject ID: 202330889349301573 - Rendered 2024-05-03 TIN: 86-6050388

SCHEDULE O
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
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Attach to Form 990 or 990-EZ.
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Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2021

Open to Public
Inspection

Name of the organization

UNIVERSITY OF ARIZONA FOUNDATION

Employer identification number

86-6050388

Return Reference	Explanation
FORM 990, PART VI, SECTION A, LINE 1A	THE BOARD OF TRUSTEES HAS APPOINTED AN EXECUTIVE COMMITTEE WHICH IS COMPRISED OF THE CHAIR OF THE BOARD, THE VICE CHAIR, THE PRESIDENT OF THE CORPORATION AND THE UNIVERSITY OF ARIZONA, THE SENIOR VICE PRESIDENT OF FINANCE OF THE CORPORATION AND UNIVERSITY OF ARIZONA, THE SECRETARY AND THE TREASURER. IN ADDITION, THE BOARD OF TRUSTEES MAY DESIGNATE ONE OR MORE AT-LARGE EXECUTIVE COMMITTEE MEMBERS. TO THE EXTENT PROVIDED IN THE EXECUTIVE COMMITTEE CHARTER, THE EXECUTIVE COMMITTEE SHALL HAVE AND EXERCISE THE AUTHORITY OF THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE REPORTS TO THE BOARD OF TRUSTEES AT EACH OF ITS MEETINGS ON THE ACTIONS TAKEN SINCE THE LAST MEETING OF THE BOARD OF TRUSTEES AND PROVIDES THE BOARD OF TRUSTEES WITH ALL INFORMATION NECESSARY FOR THE BOARD OF TRUSTEES TO CARRY OUT ITS GENERAL DUTY OF OVERSIGHT.
FORM 990, PART VI, SECTION B, LINE 11B	MANAGEMENT PREPARED THE FORM 990. WE ENGAGED AN INTERNATIONAL PUBLIC ACCOUNTING FIRM TO REVIEW OUR INTERNALLY-PREPARED FORM 990. AFTER THE INTERNATIONAL PUBLIC ACCOUNTING FIRM COMPLETED THEIR REVIEW, MANAGEMENT REVIEWED THE FINAL DRAFT, WHICH WAS THEN SUBMITTED FOR REVIEW BY OUR AUDIT COMMITTEE BEFORE THE FORM WAS FILED WITH THE IRS.
FORM 990, PART VI, SECTION B, LINE 12C	EACH MEMBER OF THE BOARD OF TRUSTEES AND EACH OFFICER-EMPLOYEE OF THE FOUNDATION IS ANNUALLY PROVIDED WITH A CONFLICT OF INTEREST ACKNOWLEDGEMENT AND DISCLOSURE STATEMENT. SUCH INDIVIDUALS ARE REQUIRED TO REVIEW THESE DOCUMENTS, COMPLETE THEM, AND RETURN THEM TO OUR IN-HOUSE LEGAL COUNSEL FOR REVIEW. ANY CONFLICTS WHICH PRESENT THEMSELVES DURING THE YEAR ARE REVIEWED BY MANAGEMENT AND SUBMITTED TO THE BOARD FOR RESOLUTION.
FORM 990, PART VI, SECTION B, LINE 15	THE FOUNDATION HAS A COMPENSATION COMMITTEE COMPRISED ONLY OF INDEPENDENT TRUSTEES; CONTEMPORANEOUS MINUTES ARE KEPT OF THEIR MEETINGS AND DECISIONS. THE COMMITTEE ENGAGES A COMPENSATION CONSULTANT TO PROVIDE COMPARABILITY DATA AND OTHER GUIDANCE. THE PROCESS WAS LAST COMPLETED JUNE 27, 2022.
FORM 990, PART VI, SECTION C, LINE 19	THE FOUNDATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY OR AUDITED FINANCIAL STATEMENTS PUBLICLY AVAILABLE.
FORM 990, PART XI, LINE 9:	K-1 FLOW THROUGH OF UNRELATED BUSINESS INCOME/LOSS -3,748,116.

Return Reference

Explanation

FORM 990, PART VI, SECTION A, LINE 1A

THE BOARD OF TRUSTEES HAS APPOINTED AN EXECUTIVE COMMITTEE WHICH IS COMPRISED OF THE CHAIR OF THE BOARD, THE VICE CHAIR, THE PRESIDENT OF THE CORPORATION AND THE UNIVERSITY OF ARIZONA, THE SENIOR VICE PRESIDENT OF FINANCE OF THE CORPORATION AND UNIVERSITY OF ARIZONA, THE SECRETARY AND THE TREASURER. IN ADDITION, THE BOARD OF TRUSTEES MAY DESIGNATE ONE OR MORE AT-LARGE EXECUTIVE COMMITTEE MEMBERS. TO THE EXTENT PROVIDED IN THE EXECUTIVE COMMITTEE CHARTER, THE EXECUTIVE COMMITTEE SHALL HAVE AND EXERCISE THE AUTHORITY OF THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE REPORTS TO THE BOARD OF TRUSTEES AT EACH OF ITS MEETINGS ON THE ACTIONS TAKEN SINCE THE LAST MEETING OF THE BOARD OF TRUSTEES AND PROVIDES THE BOARD OF TRUSTEES WITH ALL INFORMATION NECESSARY FOR THE BOARD OF TRUSTEES TO CARRY OUT ITS GENERAL DUTY OF OVERSIGHT.

FORM 990, PART VI, SECTION B, LINE 11B

MANAGEMENT PREPARED THE FORM 990. WE ENGAGED AN INTERNATIONAL PUBLIC ACCOUNTING FIRM TO REVIEW OUR INTERNALLY-PREPARED FORM 990. AFTER THE INTERNATIONAL PUBLIC ACCOUNTING FIRM COMPLETED THEIR REVIEW, MANAGEMENT REVIEWED THE FINAL DRAFT, WHICH WAS THEN SUBMITTED FOR REVIEW BY OUR AUDIT COMMITTEE BEFORE THE FORM WAS FILED WITH THE IRS.

FORM 990, PART VI, SECTION B, LINE 12C

EACH MEMBER OF THE BOARD OF TRUSTEES AND EACH OFFICER-EMPLOYEE OF THE FOUNDATION IS ANNUALLY PROVIDED WITH A CONFLICT OF INTEREST ACKNOWLEDGEMENT AND DISCLOSURE STATEMENT. SUCH INDIVIDUALS ARE REQUIRED TO REVIEW THESE DOCUMENTS, COMPLETE THEM, AND RETURN THEM TO OUR IN-HOUSE LEGAL COUNSEL FOR REVIEW. ANY CONFLICTS WHICH PRESENT THEMSELVES DURING THE YEAR ARE REVIEWED BY MANAGEMENT AND SUBMITTED TO THE BOARD FOR RESOLUTION.

FORM 990, PART VI, SECTION B, LINE 15

THE FOUNDATION HAS A COMPENSATION COMMITTEE COMPRISED ONLY OF INDEPENDENT TRUSTEES; CONTEMPORANEOUS MINUTES ARE KEPT OF THEIR MEETINGS AND DECISIONS. THE COMMITTEE ENGAGES A COMPENSATION CONSULTANT TO PROVIDE COMPARABILITY DATA AND OTHER GUIDANCE. THE PROCESS WAS LAST COMPLETED JUNE 27, 2022.

FORM 990, PART VI, SECTION C, LINE 19

THE FOUNDATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY OR AUDITED FINANCIAL STATEMENTS PUBLICLY AVAILABLE.

FORM 990, PART XI, LINE 9:

K-1 FLOW THROUGH OF UNRELATED BUSINESS INCOME/LOSS -3,748,116.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990) 2021

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