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KSU Foundation

Governance Committee: June 19, 2014

The Governance Committee met on June 19, 2014. Chairman Steve Lacy presided. Action taken and topics discussed included the following:

  • Reviewed, accepted and recommended for approval to the full board all changes to the Policy on Standing Committees, the Standing Committee Charters and the 403b Charters.
  • Reviewed bylaws for the Kansas State University Foundation and recommended changes for approval to the full board.
  • Reviewed, accepted and recommended for approval to the full board changes to the Memorandum of Understanding between Kansas State University and the Kansas State Foundation.
  • Reviewed and recommended the adoption of the Plan of Dissolution of the KSU Charitable Gift Fund effective June 30, 2014.
  • Reviewed platform for Fraud Hotline that will be implemented by mid-July for Foundation staff.
  • Received an update on the top 7 risks previously identified by Enterprise Risk Management assessment.
  • Discussed and approved one Undesignated Bequest exception.
  • 990/990T FYE 06-30-2013 filings – reviewed with no issues.
  • Received the quarterly 403(b) Retirement Plan fiduciary review with no exceptions noted.