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September 27, 2002
Foundation openness policy nears approval
by Linda Charles
A few details have yet to be worked out and additional input gathered before
a formal public information policy goes into effect, the Iowa State
Foundation's board of directors decided Sept. 20.
"This is the first time the foundation has attempted to draft a formal,
comprehensive policy on what information should be provided to our
constituents," said Phyllis Lepke, vice president for communication with the
foundation. "We intend to be as open as we can, while honoring our
commitment to personal privacy and maximizing our fund-raising success."
There are few legal requirements about what information the foundation must
make public. Legally, the foundation is required to disclose its tax returns
for the last three years, tax-exempt status forms, articles of incorporation
and its biennial report.
"The new policy voluntarily makes available significantly more information
than required," Lepke said.
While developing the policy, the foundation board of directors sought input
from several campus groups, including the Faculty Senate, Government of the
Student Body and Alumni Association. Foundation representatives plan to meet
with additional groups both on and off campus before the plan is finalized.
Under the new policy, most foundation information will be available to the
public except for personal information on donors, prospective donors and
employees, and strategic and competitive information, Lepke said. In some
cases, information will be summarized to protect donor confidentiality. For
example, the foundation will make public the total amount it spends on
cultivating donors, but will not make public how much was spent on a
specific person.
One of the significant changes under the proposed policy requires foundation
staff to help the public understand the documents it will have access to,
Lepke said.
"With the new policy, we are challenging ourselves not only to provide
information, but to provide assistance so it can be easily understood,"
Lepke said. A member of the foundation staff will be designated an
"information liaison."
In addition, the directors will review the policy regularly to see if
additional information should be made public, Lepke said. The foundation
also will conduct a public study to compare its expenditures against those
of its peer organizations.
What's public
Under the new policy, the foundation will provide:
- Administrative information, such as names of the foundation's
governors and directors, the foundation's by-laws and tax returns beyond the
required three years.
- Financial information, including the foundation's annual audit, annual
reports and operating budget summary.
- Information related to fund raising, such as guidelines for named
endowed positions and scholarships, gift acceptance policy and gift club
levels.
- Foundation investment information, including policies and financial
investments.
- Funds information, including the foundation's disbursement guidelines
for endowments and the university's annual review of endowments.
What's not
The foundation will not provide:
- Personal information, such as donors' families or residences or
financial information, such as net worth, stock holdings, estate plans, gift
amounts (unless the donor agrees it can be made public) and employee
information. (The foundation also will honor donors' requests to keep
information private, even if normally that information would be released.)
The foundation will use a "reasonable person test" (information a reasonable
person would agree should be kept private) to determine what falls under
this category.
- Strategic and competitive business practices, such as plans for a
fund-raising campaign or lists of potential donors.
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Published by: University Relations,
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