Introduction to the ISU Foundation Public Information Policy

In an effort to better serve Iowa State University, its generous donors and the people of Iowa, the ISU Foundation operates in an environment of openness and accountability. We routinely respond to public information requests pertaining to financial statements, tax records, budgets, fundraising efforts, travel expenditures, policies and procedures, gifts received, how private gifts were expended and much more. The ISU Foundation takes a pro-active role in making information available by posting a large number of documents on our Web site and printing other information that can be obtained by request. We welcome your comments and questions regarding our public information policy.

A Leader in Public Information
The ISU Foundation is a recognized national leader in the area of public information. In the fall of 2002, our board of directors adopted a groundbreaking public information policy that has been revised and expanded twice -- in March 2005 and again in June 2006. The policy was one of the first of its kind in the nation and has been emulated by many other organizations. Our staff members are frequently asked to speak and make presentations on this subject, and we receive ongoing inquiries from other institutions.

Iowa Supreme Court Ruling
In February 2005 the Iowa Supreme Court ruled that records of foundations that support public entities are public. However, this ruling left unresolved questions about public disclosure of personal and private donor information. It was also unclear whether or not donors who wished to remain anonymous could do so. In the fall of 2005, the ISU Foundation, along with other concerned organizations, began discussions on how the court's decision could be enhanced and clarified to protect the personal interests of donors. Thus, the issue of donor privacy became a key issue in the Iowa Legislature.

Donor Privacy Legislation
On May 3, 2006, donor privacy legislation was passed unanimously in the Iowa House (92-0) and Iowa Senate (49-0). On May 24, 2006, Gov. Tom Vilsack signed the legislation that guarantees donors that their private information held by foundations will not be open to public information requests. These documents include wills, estate plans, trusts, annuities and other financial documents. Donors who request anonymity are also guaranteed this right by law. The ISU Foundation will continue to release the name (unless the donor has requested to remain anonymous), gift amount and designation of all gifts. This legislation does not change the Iowa Supreme Court's ruling.

Process for Requesting Information
It is the foundation's goal to make reasonable accommodations for those who wish to examine publicly available information held by the foundation, and much of that information is available on the foundation's Web site. Requests for information not available on the Web site can be directed to the foundation's information liaison, Lisa Eslinger, vice president of finance.

Those people who wish to make requests under the Iowa Code for public records relating to the foundation's activities should submit those requests to Iowa State University's public records officer. Guidance for making such requests is available at Iowa State University's Web site.

ISU Foundation Public Information Policy

By resolution of the Iowa State University Foundation board of directors on September 20, 2002, and carried by motion of the ISU Foundation executive committee on November 15, 2002, and as amended by the Iowa State University Foundation board of directors on March 24, 2005, February 27, 2006 and June 23, 2006 the Iowa State University Foundation (hereafter "the foundation") adopts the Public Information Policy (hereafter "the policy") contained herein.

I. Purpose
The Iowa State University Foundation is an Iowa nonprofit corporation dedicated to raising and managing private gifts to assist Iowa State University. This policy sets out the practices of the foundation regarding disclosure of information held by it and the procedures for requesting information. The foundation believes that information held by it should be as open to public inspection as possible, while still respecting the privacy rights of donors, prospective donors, and foundation employees, and without compromising the foundation's ability to secure and steward funds for the continued success of Iowa State University.

II. Release of Information
The records of the foundation are available for inspection in accordance with the procedures described in Section IV below, with the exception of "Confidential Information" as described in Section III below.

Because the Iowa State University Foundation is not a "government body" or "lawful custodian" as those terms are defined in Chapter 22, requests under the Iowa code for public records related to the foundation's activities of raising and managing private gifts to assist Iowa State University should be submitted to Iowa State University's Public Records Officer. Contact information for Iowa State University's Public Records Officer is available on the Iowa State University Web Site at: http://www.controller.iastate.edu/controller/publicrecords.html.

Available Information
Most records of the Iowa State University Foundation are available for public inspection. Records available include, but are not limited to:

• Gift information
  • The amount and date of the donation
  • Name of donor unless donor has requested anonymity
  • Any donor-designated use or purpose of the donation
  • Any other donor-imposed restrictions on the use of the donation
• Policies and procedures documentation, including:
  • Gift Acceptance Policy
  • Investment Policies
  • Disbursement Guidelines
  • Accountability Policies
• Organizational documents, including articles of incorporation and corporate bylaws
• Audited financial statements
• Form 990, Return of Organization Exempt from Income Tax
• Information regarding expenditure of funds

IV. Confidential Information
Confidential information which is not available for public inspection includes the following:

• Information relating to donors and prospective donors:
  • Portions of records that disclose a donor's or prospective donor's personal, financial, estate planning or gift planning matters
  • Records received from a donor or prospective donor regarding such donor's prospective gift or pledge
  • Records containing information about a donor or a prospective donor in regard to the appropriateness of the solicitation and dollar amount of the gift or pledge
  • Portions of records that identify a prospective donor and that provide information on the appropriateness of the solicitation, the form of the gift or dollar amount requested by the solicitor, and the name of the solicitor
  • Portions of records disclosing the identity of a donor or prospective donor, including the specific form of gift or pledge that could identify a donor or prospective donor, directly or indirectly, when such donor has requested anonymity in connection with the gift or pledge. This does not apply to a gift or pledge from a publicly held business corporation.
• Information relating to fundraising plans and strategies
• Trade secret information and information relating to the business of any foundation subsidiary which, if released, could create a competitive disadvantage
• Individual employee information other than name, title and salary
• Individual student information
• Information relating to trusts and annuities administered by the foundation, except as to actual gifts to the foundation from such a trust or annuity
• Other information protected by law

V. Procedures for Requesting Public Information
It is the foundation's goal to make reasonable accommodations for those who wish to examine publicly available information held by the foundation. Much of the foundation's public information is available on the foundation's Web site. Information may be requested by contacting the foundation's information liaison by phone (515-294-4607), fax (515-294-7550) or at the foundation offices, 2505 Elwood Drive, Ames, IA 50010.

Requests for information will be processed in the order received in a reasonable length of time -- usually three to five business days unless the request is for a large volume of information. If the requested information is available on the foundation Web site, the requester will be so notified.

Reproduction and Additional Fees
If an information request requires the retrieval and reproduction of documents, a reasonable per-page reproduction fee applies in most cases. The per-page reproduction fee shall not exceed the actual cost to the foundation of satisfying the request and does not apply to copies of the foundation's IRS Forms 990 and 1023. The foundation will charge an hourly fee for staff time which is required to locate and prepare requested information and to monitor access to information. All fees shall be paid by the requesting party to the foundation prior to receipt of requested information. Accounts must be settled before additional information is provided.

VI. Protection of Privacy
This policy sets forth the foundation's practices with respect to public and confidential information; it is not and shall not be interpreted as inconsistent with the rights set out in the nationally recognized Donor Bill of Rights, Association of Professional Researchers for Advancement Statement of Ethics, or the National Committee on Planned giving Model Standards of Practice for the Charitable Gift Planner, all of which have been adopted by the foundation board of directors. These documents are available on the foundation Web site or from the public information liaison. This policy shall not be interpreted as violating any federal, state or local law governing the dissemination of information.

VII. Periodic Reassessment of the Policy
The foundation board of directors will periodically review this policy. If the board of directors revises this policy, it shall provide public notice on the foundation's Web site within thirty (30) days of any substantive changes or amendments. This policy and future revisions shall be made publicly available.