2024-05-09T10:31:00-05:00 2023-06-30 390859910 BAKER TILLY US LLP 225 S 6TH ST 2300 MINNEAPOLIS MN 55402 990 2022-07-01 410637089 UNIVERSITY OF MINNESOTA ALUMNI ASSOCIATION UNIV 6126242323 200 OAK ST E 200 MINNEAPOLIS MN 554552040 BETSY VOHS TREASURER 6126242323 2024-05-03 1 BETSY VOHS 999009999 1 KAREN A GRIES P00078514 6128764500 2024-05-03 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z LISA LEWIS 200 OAK ST E 200 MINNEAPOLIS MN 554552040 4036883 0 X WWW.UMNALUMNI.ORG X 1904 MN CONNECTING ALUMNI, STUDENTS, AND FRIENDS IN SUPPORT OF THE UNIVERSITY OF MINNESOTA AND EACH OTHER. 22 21 46 141 606186 9842 1901786 1763809 688964 632889 385119 930134 1029331 519263 4005200 3846095 92101 94000 0 0 2298062 2847763 10314 13960 1014626 2174324 1939052 4574801 4894775 -569601 -1048680 31666875 32721200 279616 1319035 31387259 31402165 X THE UNIVERSITY OF MINNESOTA ALUMNI ASSOCIATION (UMAA) FOSTERS A LIFELONG SPIRIT OF BELONGING AND PRIDE BY CONNECTING ALUMNI, STUDENTS, AND FRIENDS TO THE UNIVERSITY OF MINNESOTA AND EACH OTHER. THE ALUMNI ASSOCIATION ADVOCATES FOR THE UNIVERSITY AND ITS ALUMNI WITH A CREDIBLE, INDEPENDENT, AND COLLABORATIVE VOICE. 0 0 1356872 211871 BUILDING UNIVERSITY CONNECTIONS - PROGRAMS AND ACTIVITIES:THE UNIVERSITY OF MINNESOTA ALUMNI ASSOCIATION PROVIDES OPPORTUNITIES FOR ALUMNI TO BE AMBASSADORS FOR THE IMPORTANT WORK OF THE UNIVERSITY. THE ASSOCIATION PROVIDES AND PROMOTES PROGRAMS AND ACTIVITIES INCLUDING HOMECOMING EVENTS, SPEAKERS AND PERFORMANCES, SUPPORT OF UNIVERSITY ATHLETIC TEAMS, A GROUP TRAVEL PROGRAM, MENTORING, NETWORKING, AND SOCIAL AND SERVICE OPPORTUNITIES. THE ASSOCIATION ALSO SUPPORTS THE ACTIVIES AND EVENTS OF THE COLLEGIATE ALUMNI SOCIETIES AND GEOGRAPHIC ALUMNI CHAPTERS. 1266469 PUBLICATIONS AND COMMUNICATIONS:THE UNIVERSITY OF MINNESOTA ALUMNI ASSOCIATION PROVIDES OPPORTUNITIES FOR ALUMNI TO BE AMBASSADORS FOR THE IMPORTANT WORK OF THE UNIVERSITY. THE ASSOCIATION PROVIDES AND PROMOTES PROGRAMS AND ACTIVITIES INCLUDING HOMECOMING EVENTS, SPEAKERS AND PERFORMANCES, SUPPORT OF UNIVERSITY ATHLETIC TEAMS, A GROUP TRAVEL PROGRAM, MENTORING, NETWORKING, AND SOCIAL AND SERVICE OPPORTUNITIES. THE ASSOCIATION ALSO SUPPORTS THE ACTIVIES AND EVENTS OF THE COLLEGIATE ALUMNI SOCIETIES AND GEOGRAPHIC ALUMNI CHAPTERS. 318490 BUILDING UNIVERSITY CONNECTION:THE UNIVERSITY OF MINNESOTA ALUMNI ASSOCIATION BRINGS NEWS ABOUT THE UNIVERSITY AND ALUMNI TO MEMBERS, ALUMNI AND THE PUBLIC THROUGH MULTIPLE MEDIA CHANNELS. THE AWARD-WINNING MINNESOTA MAGAZINE IS SENT TO MEMBERS IN PRINTED FORM AND IS AVAILABLE TO ALUMNI AND THE PUBLIC ONLINE. THE ASSOCIATION ALSO PROVIDES INFORMATION TO ALUMNI ABOUT EVENTS, ACTIVITIES, UNIVERSITY AND ALUMNI ASSOCIATION NEWS, MEMBER BENEFITS AND DISCOUNTS, AND OTHER OPPORTUNITIES THROUGH ALUMNI ANGLE, A WEEKLY ALL-ALUMNI EMAIL NEWSLETTER. THE ASSOCIATION ALSO PROVIDES EXTENSIVE INFORMATION AND UPDATES THROUGH SOCIAL MEDIA AND ON ITS WEB SITE, WWW.UMNALUMNI.ORG. 94000 94000 ADVOCACY AND SERVICE:THE ALUMNI ASSOCIATION CONNECTS THE UNIVERSITY OF MINNESOTA'S 509,000 ALUMNI WITH THE UNIVERSITY AND EACH OTHER. ALUMNI SERVICE FUNCTIONS INCLUDE UPDATING CONTACT INFORMATION AND PREFERENCES, PROVIDING ACCESS TO UNIVERSITY DEPARTMENTS AND SERVICES, AND GAUGING ALUMNI INTERESTS AND CONCERNS AND COMMUNICATING THEM TO UNIVERSITY OFFICIALS. THE ASSOCIATION'S 37,000 MEMBERS PROVIDE FINANCIAL SUPPORT FOR ALUMNI SERVICES. THEY RECEIVE MEMBER BENEFITS SUCH AS DISCOUNTS, A MAGAZINE SUBSCRIPTION AND SPECIAL PRICING AND EARLY ACCESS TO EVENTS. 94000 94000 3035831 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 X 44 0 46 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 22 21 1 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 1 1 MN X DANIEL GARRY 6126269083 200 OAK ST E NO 200 MINNEAPOLIS MN 55455 LISA LEWIS PRESIDENT & CEO 48.00 0.50 X X 278041 0 51503 SCOTT WALLACE PAST CHAIR 1.00 0.00 X X 0 0 0 ANN SHELDON CHAIR 1.00 0.00 X X 0 0 0 TONY WAGNER TREASURER 1.00 0.00 X X 0 0 0 PAT DUNCANSON CHAIR ELECT 1.00 0.00 X X 0 0 0 NADIA HASAN SECRETARY 1.00 0.00 X X 0 0 0 SARAH BERAKI DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL CLAUSMAN DIRECTOR 1.00 0.00 X 0 0 0 WOKIE DABOH DIRECTOR 1.00 0.00 X 0 0 0 CAROL JOHNSON DEAN DIRECTOR 1.00 0.00 X 0 0 0 CHARLES HELM DIRECTOR 1.00 0.00 X 0 0 0 MARK JETER DIRECTOR 1.00 0.00 X 0 0 0 EMILIA NDELY DIRECTOR 1.00 0.00 X 0 0 0 JULIE OLSON DIRECTOR 1.00 0.00 X 0 0 0 PEYTON OWENS III DIRECTOR 1.00 0.00 X 0 0 0 CHRISTINA PIEPER-BIGELOW DIRECTOR 1.00 0.00 X 0 0 0 LAKEESHA RANSOM DIRECTOR 1.00 0.00 X 0 0 0 ROGER REINERT DIRECTOR 1.00 0.00 X 0 0 0 AMANDA RODRIGUEZ DIRECTOR 1.00 0.00 X 0 0 0 JASON ROHLOFF DIRECTOR 1.00 0.00 X 0 0 0 JOSH STEVENS DIRECTOR 1.00 0.00 X 0 0 0 MEGAN SWEET DIRECTOR 1.00 0.50 X 0 0 0 BESTY VOHS DIRECTOR 1.00 0.00 X 0 0 0 TAREQ BASTAWISY DIRECTOR 1.00 0.00 X 0 0 0 CHARLIE NELSON DIRECTOR 1.00 0.00 X 0 0 0 DREW SWARTZ DIRECTOR 1.00 0.00 X 0 0 0 FLORA YANG DIRECTOR 1.00 0.00 X 0 0 0 MARY BANY DIRECTOR 1.00 0.00 X 0 0 0 WILL COLLINS DIRECTOR 1.00 0.00 X 0 0 0 DANIEL GARRY VICE PRESIDENT & CFO 48.00 1.00 X 110589 0 41749 LISA HUBER VICE PRESIDENT OF MARKETING 48.00 0.00 X 110932 0 20568 499562 0 113820 3 0 1 0 0 638198 873080 252531 1763809 ADVERTISING 541800 229162 229162 PROGRAM FEES 900099 211871 211871 TOURS 561520 191856 191856 632889 350002 350002 207425 45000 162425 609039 28907 580132 580132 580132 302049 161881 140168 140168 MISCELLANEOUS REVENUE 900099 90000 90000 RETURN ON JV INVESTMEN 900099 81670 81670 171670 3846095 211871 606186 1264229 94000 94000 714015 386934 201460 125621 1566126 1083873 134415 347838 189075 131565 16541 40969 273158 188764 25543 58851 105389 74649 7565 23175 24070 17880 4689 1501 31674 23528 6170 1976 13960 13960 253984 253984 281800 196096 68961 16743 7068 7068 516726 313894 7719 195113 149486 124385 16462 8639 391080 182819 44004 164257 63682 45679 13931 4072 161562 122664 35341 3557 22207 16409 2455 3343 30495 22498 3358 4639 MISCELLANEOUS 5218 3126 1720 372 4894775 3035831 844318 1014626 354308 353660 166935 207132 291480 347141 380969 313590 60694 67379 30546842 30656392 246616 1089496 31666875 32721200 180209 293428 99407 65289 0 960318 279616 1319035 X 30304167 30291116 1083092 1111049 31387259 31402165 31666875 32721200 -1048680 1063586 0 X X 0 1 X 1 0 X 1672166 1712684 1774622 1901786 1763809 8825067 1672166 1712684 1774622 1901786 1763809 8825067 8825067 899614 766525 689818 729227 412427 3497611 91743 21015 17176 12803 142737 110831 110223 87670 103505 171670 583899 13049314 1081720 0.67630 0.64840 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS REVENUE RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 32390 32390 4391049 4423439 371172 92793 0 0 342522 322514 339578 371172 1375786 2063679 84082 77366 33805 32390 227643 85631 80629 84895 92793 343948 515922 84082 77366 33805 32390 227643 PART II-A, LINE 1A: DURING FISCAL YEAR ENDING JUNE 30, 2023, UMAA HAD AN ALUMNI ADVOCACY VOLUNTEER COORDINATOR. THE STAFF MEMBER RESPONSIBILITIES INCLUDED A) WORKING WITH THE UNIVERSITY STAFF TO KEEP UP-TO-DATE ON THE LEGISLATE PRIORITIES AND ISSUES FOR THE UNIVERSITY B) IDENTIFYING ALUMNI VOLUNTEERS WHO WOULD BE WILLING TO MEET WITH THEIR ELECTED REPRESENTATIVES TO ADVOCATE ON BEHALF OF THE UNIVERSITY C) COORDINATE COMMUNICATE TO ALUMNI REQUESTING THEY ADVOCATE ON BEHALF OF THE UNIVERSITY. THERE WERE NO ACTIVITIES ASSOCIATED WITH ANY CAMPAIGN. 22020584 1254568 94000 1021878 22159274 18890680 4122197 92101 900192 22020584 13157012 197346 6807984 92758 1178904 18890680 13983408 186644 91444 921596 13157012 13270724 1757249 91093 953472 13983408 0.94886 0.00819 0.04295 1 0 380969 313590 67379 67379 FOUNDATION MANAGEMENT AGENCY FUND 30656392 F 30656392 RIGHT OF USE OF ASSET 960318 960318 X 4817578 1063586 1063586 3753992 253984 -161881 92103 3846095 4802672 161881 161881 4640791 253984 253984 4894775 PART V, LINE 4: THE INTENDED USES OF THE ORGANIZATION'S ENDOWMENT FUNDS ARE STUDENT SCHOLARSHIPS, FACULTY AWARDS, STRATEGIC INITIATIVES AND OPERATING SUPPORT. PART X, LINE 2: THE ASSOCIATION FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE UNIVERSITY FOR UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2023 AND 2022. THE ASSOCIATION'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -161,881. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 161,881. 1 UNIVERSITY OF MINNESOTA 100 CHURCH ST SE MINNEAPOLIS MN 55455 416007513 STATE OF MN GOVT 94000 0 TEACHING AWARDS AND STUDENT SCHOLARSHIPS 1 0 PART I, LINE 2: UMAA PROVIDES GRANTS TO THE UNIVERSITY OF MINNESOTA FOR TEACHING AWARDS AND STUDENT SCHOLARSHIPS. THE UNIVERSITY PROVIDES THE UMAA A LIST OF AWARD AND SCHOLARSHIP RECIPIENTS. X X X 0 0 0 0 0 0 0 0 0 LISA LEWIS PRESIDENT & CEO 277267 0 0 0 774 0 27804 0 23699 0 329544 0 0 0 DANIEL GARRY VICE PRESIDENT & CFO 110118 0 0 0 471 0 11059 0 30690 0 152338 0 0 0 FORM 990, PART V, LINE 2A: ALL STAFF OF THE UNIVERSITY OF MINNESOTA ALUMNI ASSOCIATION ARE EMPLOYEES OF THE UNIVERSITY OF MINNESOTA. THE ALUMNI ASSOCIATION REIMBURSES THE UNIVERSITY FOR WAGES AND BENEFITS ALLOCABLE TO TIME SPENT SERVING THE ALUMNI ASSOCIATION, AND REPORTS THESE DISBURSEMENTS AS WAGES AND BENEFITS EXPENSE ON ITS OWN FUNCATIONAL EXPENSE STATEMENT. FORM 990, PART VI, SECTION A, LINE 1A EXECUTIVE AND EXECUTIVE COMPENSATION COMMITTEE. THE EXECUTIVE AND EXECUTIVE COMPENSATION COMMITTEE SHALL BE CHAIRED BY THE BOARD CHAIR, AND SHALL CONSIST OF THE CHAIR, THE CHAIR-ELECT, THE VICE CHAIR, THE SECRETARY, THE TREASURER, THE PAST CHAIR, AND THE PRESIDENT OF THE UNIVERSITY OF MINNESOTA (OR DESIGNEE IF THE PRESIDENT OF THE UNIVERSITY OF MINNESOTA SO DELEGATES AND SO NOTIFIES THE CHAIR OR THE BOARD OF THE ASSOCIATION IN WRITING). THE CHIEF EXECUTIVE OFFICER SHALL BE A NON-VOTING MEMBER OF THE COMMITTEE. THE COMMITTEE SHALL ACT ONLY DURING INTERVALS BETWEEN MEETINGS OF THE BOARD OF DIRECTORS AND SHALL AT ALL TIMES BE SUBJECT TO THE CONTROL AND DIRECTION OF THE BOARD OF DIRECTORS. DURING SUCH INTERVALS AND SUBJECT TO SUCH CONTROL AND DIRECTION, THE COMMITTEE SHALL HAVE AND MAY EXERCISE ALL OF THE AUTHORITY AND POWERS OF THE BOARD OF DIRECTORS IN THE MANAGEMENT OF THE AFFAIRS OF THE ASSOCIATION, SUBJECT TO SUCH LIMITATIONS AS THE BOARD OF DIRECTORS MAY IMPOSE. THE COMMITTEE SHALL KEEP REGULAR MINUTES OF ITS PROCEEDINGS AND REPORT THE SAME TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 2 MEGAN SWEET, KATHLEEN SCHMIDLKOFER, JULIE OLSON, PEYTON OWENS III, AND BILL HALDEMAN HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 6 THE ASSOCIATION IS AN INDEPENDENT MEMBERSHIP ORGANIZATION. SECTION 1. CLASSES OF MEMBERSHIP. THERE SHALL BE TWO CLASSES OF MEMBERSHIP IN THE ASSOCIATION, REGULAR AND SPECIAL, DEFINED AS FOLLOWS: A. REGULAR MEMBERSHIP (1) ELIGIBILITY. A. A GRADUATE OR FORMER STUDENT OF THE UNIVERSITY OF MINNESOTA. A "FORMER STUDENT" IS ANYONE WHO HAS COMPLETED FIFTEEN (15) CREDITS; CONTINUING EDUCATION AND EXTENSION WORK IS INCLUDED. B. A CURRENT STUDENT OF THE UNIVERSITY OF MINNESOTA. C. A MEMBER OF THE BOARD OF REGENTS OR ANYONE WHO HOLDS A FACULTY, STAFF, OR ADMINISTRATIVE POSITION AT THE UNIVERSITY OF MINNESOTA. (2) PRIVILEGES. REGULAR MEMBERS SHALL BE ELIGIBLE FOR ALL RIGHTS AND PRIVILEGES AS DETERMINED BY THE BOARD OF DIRECTORS, EXCLUDING THE RIGHT TO AMEND THE CORPORATION'S ARTICLES AND BYLAWS, BUT INCLUDING THE RIGHT TO SERVE ON THE BOARD OF DIRECTORS AND VOTE AT THE ANNUAL AND SPECIAL MEETINGS OF THE GENERAL MEMBERSHIP. B. SPECIAL MEMBERSHIP (1) TYPES OF SPECIAL MEMBERSHIP. A. HONORARY MEMBER. ANY INDIVIDUAL WHO HAS RENDERED OUTSTANDING SERVICE TO THE UNIVERSITY OF MINNESOTA AND/OR THE UMAA AND IS DESIGNATED AN HONORARY MEMBER BY THE BOARD OF DIRECTORS. B. FRIEND OF THE UNIVERSITY. ANY INDIVIDUAL WHO DESIRES TO AFFILIATE WITH THE ASSOCIATION IN THE INTEREST OF ADVANCING ITS DESIGNATED GOALS AND PURPOSES. (2) PRIVILEGES. SPECIAL MEMBERS SHALL HAVE THE SAME RIGHTS AND DUTIES AS REGULAR MEMBERS EXCEPT A SPECIAL MEMBER SHALL HAVE NO RIGHT TO VOTE ON ANY MATTER THAT COMES BEFORE THE GENERAL MEMBERSHIP OR TO SERVE ON THE BOARD OF DIRECTORS OF THE ASSOCIATION. A SPECIAL MEMBER MAY SERVE AS A VOTING MEMBER OF ANY COMMITTEE. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS VOTE TO CONFIRM THE BOARD OF DIRECTORS, WHICH CONSISTS OF THE FOLLOWING: A. THREE (3) APPOINTED VOTING DIRECTORS: (1) THE CHAIR; (2) THE CHAIR-ELECT; (3) THE PAST CHAIR. B. SEVEN (7) AT-LARGE DIRECTORS, NONE DESIGNATED FOR A SPECIFIC GROUP, ELECTED BY THE GENERAL MEMBERSHIP. C. TEN (10) DIRECTORS REPRESENTING BOARD COUNCILS, ELECTED BY THE GENERAL MEMBERSHIP. D. SEVEN (7) VOTING EX-OFFICIO DIRECTORS: (1) THE PRESIDENT OF THE UNIVERSITY OF MINNESOTA; (2) THE PRESIDENT/CEO OF THE UNIVERSITY OF MINNESOTA FOUNDATION; (3) THE PRESIDENT/CEO OF THE UNIVERSITY OF MINNESOTA ALUMNI ASSOCIATION; (4) ONE FACULTY REPRESENTATIVE APPOINTED BY THE FACULTY CONSULTATIVE COMMITTEE; (5) THE ATHLETIC DIRECTOR OF THE UNIVERSITY OF MINNESOTA; (6) ONE UNDERGRADUATE STUDENT OF THE UNIVERSITY OF MINNESOTA; (7) ONE GRADUATE STUDENT OF THE UNIVERSITY OF MINNESOTA. EX-OFFICIO DIRECTORS MAY DESIGNATE AN APPROPRIATE SUBSTITUTE SUBJECT TO THE APPROVAL OF THE NOMINATING/BOARD DEVELOPMENT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT PUBLIC ACCOUNTING FIRM FOR INTERNAL REVIEW. THE FORM IS THEN REVIEWED AND APPROVED BY THE FINANCE AND AUDIT COMMITTEE BEFORE GOING TO THE FULL BOARD OF DIRECTORS FOR APPROVAL PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH MEMBER OF THE BOARD OF DIRECTORS AND EACH EMPLOYEE COMPLETES A CONFLICT OF INTEREST DISCLOSURE STATEMENT ANNUALLY. BOARD OFFICERS AND OPERATING OFFICERS REVIEW THE DISCLOSURE STATEMENTS. WHEN A CONFLICT OF INTEREST IS RELEVANT TO A MATTER REQUIRING ACTION BY THE BOARD OF DIRECTORS OR A BOARD COMMITTEE, THE INVOLVED MEMBER SHALL NOTIFY THE NATIONAL CHAIR, OR, WHEN THE MATTER IS BEFORE A BOARD COMMITTEE, THE CHAIR OF THE COMMITTEE. THE BOARD OR COMMITTEE MEMBER WITH THE CONFLICT SHALL REFRAIN FROM VOTING OR OTHERWISE ATTEMPTING TO EXERT ANY INFLUENCE ON THE BOARD OR COMMITTEE REGARDING THE MATTER UNDER CONSIDERATION. THE BOARD OR COMMITTEE MEMBERS WILL MAKE A DETERMINATION AS TO WHETHER A CONFLICT OF INTEREST EXISTS. THE MINUTES OF THE MEETING OF THE BOARD OR COMMITTEE SHALL REFLECT THAT THE CONFLICT OF INTEREST WAS DISCLOSED AND THAT THE INVOLVED MEMBER DID NOT PARTICIPATE IN THE VOTE. FORM 990, PART VI, SECTION B, LINE 15 IN 2017, THE FOLLOWING WAS ESTABLISHED AS THE PROCEDURE REGARDING COMPENSATION: COMPENSATION OF THE CHIEF EXECUTIVE OFFICER IS SET BY THE EXECUTIVE AND EXECUTIVE COMPENSATION COMMITTEE. THE EXECUTIVE AND EXECUTIVE COMPENSATION COMMITTEE SHALL ESTABLISH COMPENSATION FOR THE CHIEF EXECUTIVE OFFICER AND APPROVE THE COMPENSATION RECOMMENDED BY THE CHIEF EXECUTIVE OFFICER FOR THE CHIEF FINANCIAL OFFICER, OR OTHER OFFICERS IN A POSITION TO EXERCISE SUBSTANTIAL INFLUENCE OVER THE ASSOCIATION, THAT IS FAIR AND REASONABLE TO THE ASSOCIATION. NO PERSON WHOSE COMPENSATION IS DETERMINED OR APPROVED BY THE COMMITTEE SHALL BE A VOTING MEMBER OF THE COMMITTEE WHEN ESTABLISHING THE COMPENSATION OF THE CHIEF EXECUTIVE OFFICER AND APPROVING THE COMPENSATION OF THE CHIEF FINANCIAL OFFICER, OR OTHER OFFICER IN A POSITION TO EXERCISE SUBSTANTIAL INFLUENCE OVER THE AFFAIRS OF THE ASSOCIATION. THE COMMITTEE SHALL APPROVE SUCH COMPENSATION IN ADVANCE OF ITS PAYMENT, OBTAIN AND RELY ON APPROPRIATE DATA AS TO COMPARABILITY (SUCH AS COMPENSATION SURVEYS) PRIOR TO MAKING ITS DECISION, DOCUMENT IN WRITING THE DATE AND TERMS OF THE APPROVED COMPENSATION ARRANGEMENT, RECORD IN WRITING THE DECISION MADE BY EACH INDIVIDUAL MEMBER OF THE COMMITTEE WHO VOTED ON THE COMPENSATION ARRANGEMENT, AND DOCUMENT THE BASIS FOR SUCH DECISION. FORM 990, PART VI, SECTION C, LINE 19 UMAA MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: NEITHER THE OVERSIGHT NOR THE SELECTION PROCESS OF THE INDEPENDENT ACCOUNT CHANGED FROM THE PRIOR YEAR. UNIVERSITY GATEWAY CORPORATION 200 SE OAK ST STE 500 MINNEAPOLIS MN 55455 411879994 OWNS AND OPERATES FACILITY TO SUPPORT ITS BENEFICIARY ORGANIZATIONS MN 501(C)(3) LINE 12B, II N/A 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 UNIVERSITY GATEWAY CORPORATION Q 81670 ACTUAL AMOUNT UNIVERSITY GATEWAY CORPORATION K 250269 ACTUAL AMOUNT