How does IUF manage its assets?
- Financial Highlights (2012–2013) [PDF]
- Quarterly Investment Performance Reports
- 2010 Financial Audit [PDF]
- 2011 Financial Audit [PDF]
- 2012 Financial Audit [PDF]
- 2013 Financial Audit [PDF]
- 2014 Financial Audit [PDF]
- Annual Operating Budget [PDF]
How does IUF compare with its peers?
Public Disclosure 990 and Related Party Transactions
The IUF is responsible for filing Form 990 annually with the Internal Revenue Service (IRS). Form 990 provides a comparison of the current year's revenues, expenses, assets and liabilities with those of the prior year. In addition to specific financial statement details, we also provide a description of IUF’s program and service accomplishments, along with in-depth information regarding IUF’s tax compliance, good governance practices, compensation data and policies.
The IUF Board of Directors (Board) provides critical oversight of the completion of Form 990. IUF staff prepares Form 990 and an IUF management group reviews the form. Status reports are provided to the IUF Audit Committee at various committee meetings. Form 990 is reviewed and approved by the IUF Audit Committee; signed by the IUF President and CEO; and then provided to the full Board prior to its filing with the IRS.
The IUF recognizes that good governance practices provide safeguards to help ensure that IUF’s funds will be used consistently in accordance with its mission, tax-exempt purpose and donor intent. We welcome your review of IUF’s Form 990 [PDF] as an opportunity to demonstrate our commitment to continue to support Indiana University, serve our donors and contribute to the overall public good.
One of the public objectives of Form 990 is to make the policies and practices of nonprofit organizations more transparent. Form 990 includes disclosures regarding conflicts of interest and related party transactions. All decisions of the IUF are made solely to promote the best interests of the IUF, Indiana University and our donors. Effective boards usually include individuals who have relationships and affiliations that may raise questions about perceived conflicts of interest. Although many such potential conflicts are ultimately deemed inconsequential, every IUF representative (director, officer, employee or agent) has the responsibility to ensure that the Board is made aware of situations that involve personal, familial or business relationships that could create a real or perceived conflict of interest.
An annual written request is made of all IUF officers and directors to disclose known conflicts of interest, as outlined in IUF’s Conflicts of Interest Policy, and related party transactions, as defined by the IRS. These disclosures are reviewed by IUF staff and the Audit Committee. The Board and all relevant board committees are notified of any action required based on the disclosures received.
While the IRS has established financial thresholds which require that only those related party transactions which exceed $100K be reported, the IUF believes good governance requires full accountability regardless of dollar amounts. Therefore, we are providing an additional disclosure of all known related party transactions [PDF] that fall below the IRS reporting threshold.