The following is approved by the Grambling Black and Gold Foundation Board of Directors, the Grambling Black and Gold Foundation (“the Foundation”) for Public Information Disclosure Policy (“the Policy”):
Established in 2005, the Grambling Black & Gold Foundation is a privately governed nonprofit corporation whose mission is to support Grambling State University. The Grambling Black & Gold Foundation (GBGF) is committed to upholding and preserving public and private trust, while at the same time protecting the privacy of donors [and employees], and the confidentiality of its competitive strategies. The GBGF consistently strives for trust, accountability and excellence in its constituent relationships by promoting the values of leadership, teamwork and the highest standard of ethics among its employees and volunteers. These values are reflected in this Policy and practiced by the Foundation. They provide the basis on which the Foundation judges itself and on which it asks to be judged.
This Policy sets out the practices of the Foundation regarding disclosure of information held by it and describes the extent and nature of those materials which the Foundation will make available to the public. As an organization devoted to serving the fundraising needs of the state’s preeminent university, the Foundation believes that information held by it should be as open to public review as possible, while still respecting the privacy rights of donors, prospective donors [and employees] and without compromising the Foundation’s ability to secure and manage funds for the continued success of Grambling State University.
The Foundation’s Public Information Disclosure Policy is summarized in Part II of this document. Part III identifies the categories of documents and data available to the general public. Part IV identifies the constraints that preclude external dissemination of some information. Part V details the procedures by which an interested party may obtain publicly available information from the Foundation and procedures to be followed by requests for information not covered by this Policy. Part VI explains the annual independent audit of the Foundation. Part VII sets forth the Foundation’s commitment to improve continuously the presentation of its financial records and in particular its legal information. Part VIII reaffirms the Foundation’s commitment to protect the privacy of donors, prospective donors [and employees]. Finally, Part IX sets out the procedures by which this Policy is periodically reassessed.
This policy is effective immediately and supersedes any previous Foundation policies or practices with respect to public disclosure of information.
This policy expands the range of information previously made available for public review and facilitates public access to this information. This policy reflects first and foremost the Foundation’s commitment to approaching disclosure of information in an open, honest and fair manner.
Most information detailed in Part III is available through the Foundation’s designated Information Liaison, currently housed at the President’s Office of Grambling State University.
For purposes of disclosure, Foundation materials fall into one of three general categories.
The first category consists of information that the Foundation is obligated to disclose pursuant to state or federal law and includes, but is not limited to, the Foundation’s IRS Forms 990 and 1023, as well as documents filed with Louisiana’s Secretary of State. These records are available either on the Foundation’s web site (www.gbgfoundation.org) or directly through the Foundation. In addition to making these documents available to the public, the Foundation is also committed to providing assistance in making the documents more understandable, as discussed in Part VII of this Policy.
The second category consists of information that the Foundation voluntarily discloses pursuant to its desire to make available for public review information not withheld for a specific, clear and necessary reason. This category of information comprises the majority of information within the Foundation’s control, and includes a variety of documents, from annual audited financial statements to descriptions of fundraising priorities. As evidenced by the list of documents in Part II of this Policy, the Foundation’s practice is to make available for public review as much information as possible without compromising the Foundation’s mission.
The Foundation voluntarily commits to an annual financial audit. The Foundation believes than an annual audit facilitates institutional transparency and accountability. Audited financial statements, with the auditor’s opinion, are made available for public review, upon request.
The third category consists of information that the Foundation does not disclose for specific, clear and necessary reasons. The Foundation does not disclose strategic and competitive business information. Disclosure of such information would compromise the Foundation’s position in a competitive fundraising environment. The Foundation also does not disclose private information such as trust documents, donors’ or prospective donors’ personal and financial records and gift agreements, or employee personnel records. The Foundation does make alumni biographical information available to the university for university-related purposes. Biographical information, which is defined in Part III.D.6 of this Policy, includes names, addresses and university degrees.
Information from the Foundation may be available through multiple sources, such as the web site (www.gbgfoundation.org), by contacting the Information Liaison currently located in the President’s Office, Grambling State University.
III. INFORMATION AVAILABLE FROM THE FOUNDATION
Note: Part III.A of this Policy details information that the Foundation is legally obligated to disclose pursuant to federal or state law. All other information detailed in Part III of this Policy is voluntarily disclosed by the Foundation.
A. Legally Obligatory Information
This category of information includes documents created, obtained or maintained
in conjunction with the Foundation’s obligatory filings with the
Internal Revenue Service and other federal and state agencies. These include:
1. The Foundation’s Annual Information Return (IRS Form 990)
As required by federal law, the Foundation makes available copies of its IRS Form 990 for the current and prior two years (when applicable). Divided into nine parts (not including additional schedules), the Form 990 details revenue, expenses and changes in net assets or fund balances. The Form 990 also provides a snapshot of major activities performed by the Foundation during the previous year, and lists the Foundation’s appointed officers, directors (or trustees) and key employees. (Additionally, the Form 990 may provide salary information of future Foundation officers or non-officer employees, and identifies any for-profit businesses owned by the Foundation).
As discussed in Part VII of this Policy, the Foundation is committed to making its obligatory filings accessible and understandable. To this end, the Foundation, upon request, will assist interested persons or groups in interpreting the Foundation’s financial information. The IRS Form 990 is available from the Information Liaison currently located in the President’s Office of Grambling State University or the Foundation’s website at www.gbgfoundation.org.
2. The Foundation’s Request for Tax-Exempt Status (IRS Form 1023)
In addition to its annual filing and retention of IRS Form 990, the Foundation also keeps on record for public inspection its tax determination letter, which details the Foundation’s request and basis for tax-exempt status. It is available from the Information Liaison.
3. The Foundation’s Articles of Incorporation and Biennial Report
The Foundation is a private, nonprofit corporation duly incorporated under Louisiana’s Nonprofit Corporation Act. Pursuant to this Act, the Foundation has filed its articles of incorporation with the Louisiana Secretary of State. Additionally, the Foundation files a biennial report with the Secretary. These documents are available from the Foundation’s Information Liaison or from the Louisiana Secretary of State’s website at www.sos.state.la.us. Both documents contain basic information regarding the organizational framework of the Foundation. Specifically, the articles of incorporation discuss organizational governance, such as the voting power and structure of the Board of Directors. The biennial report details changes in the Foundation Board of Directors.
B. Administrative Information
Most information concerning the internal structure and workings of the Foundation is voluntarily made public. This information includes:
1. The Foundation’s Bylaws
The Foundation’s Bylaws are available from the Foundation’s Information Liaison and on the Foundation’s website at www.gbgfoundation.org. The bylaws describe the election and responsibilities of the officers and directors, terms of office (when applicable), and information about meeting schedules, quorums and guidelines.
2. IRS Forms 990 Beyond the Current and Prior Two Years
The Foundation voluntarily discloses its Form 990 tax filings beyond the three-year period mandated by the IRS. These additional filings are available from the Foundation’s Information Liaison.
3. Information Regarding Actions of the Foundation Board of Directors (and/or Trustees)
The Foundation voluntarily provides a list of the members of the Board of Directors (or Board of Trustees) on the Foundation’s website at www.gbgfoundation.org. The Foundation announces most major decisions of the Board of Directors through various press announcements.
4. Organizational Chart
The Foundation’s organizational chart showing job titles (and/or supervisory relationships) is available on the Foundation website at www.gbgfoundation.org or from the Information Liaison.
5. Information Regarding Foundation Employment
The Foundation voluntarily provides descriptions of employment opportunities and available positions (if applicable) on its website at www.gbgfoundation.org.
6. Conflict of Interest Policy
High standards, ethical behavior, personal integrity and impartiality are expected of staff and volunteers and are inherent to the reputation and ultimate success of the Foundation. In keeping with thee norms, Foundation officers, directors (or Trustees) and staff are required to execute a conflict of interest statement annually. A copy of the Foundation’s Conflict of Interest Policy is available from the Information Liaison.
C. Financial Information
The following financial information is voluntarily made public. This information
includes:
1. The Foundation’s Audited Financial Statements
The Foundation makes available for public review its audited financial statements with auditor’s opinion for up to the previous three fiscal years (if applicable). These statements include the Foundation’s combined statements of financial position, statements of activities, changes in net assets and cash flows from the previous year. They are available on the Foundation’s website at www.gbgfoundation.org or from the Information Liaison.
2. The Foundation’s Annual Reports Including Financials
The Foundation’s annual report includes the Foundation’s
audited financial state; total revenues, expenditures and ending net assets
for the past two fiscal years; total portfolio and sources of gifts. The
annual report also lists members of the Foundation’s Board of Directors,
standing committees and other such lists as space permits.
Past annual reports are available from the Foundation’s Information
Liaison.
D. Fundraising and Stewardship Information
The Foundation’s fundraising-related information is summarized in the Foundation’s general financial information as described above. In addition to the general information contained in those materials, the Foundation also voluntarily makes available for public review the following more specific information:
1. Donor Bill of Rights
The Foundation has adopted the Donor Bill of Rights established by the American Association of Fund-Raising Counsel (AAFRC), Council for Advancement and Support of Education (CASE) and the Association of Fundraising Professionals (AFP). This document is available from the Information Liaison or on the Foundation’s website at www.gbgfoundation.org and on author organization’s sites: www.aafrc.org, www.case.org and www.afpnet.org.
2. Model Standards of Practice
The Foundation has adopted the Model Standards of Practice for the Charitable Gift Planner created by the National Committee on Planned Giving (NCPG). This document is available from the Information Liaison or the NCPG at www.ncpg.org.
3. Statement of Ethics
The Foundation has adopted the Association of Professional Researchers for Advancement (APRA) Statement of Ethics. This document is available from the Information Liaison or the APRA at www.aprahome.org.
4. Gift Acceptance Policy
The Foundation has developed a policy regarding the acceptance of gifts for the benefit of the University. This policy, which provides objective procedures for analyzing and accepting gifts by the Foundation, is available from the Information Liaison or on the Foundation’s website at www.gbgfoundation.org.
5. Guidelines for Named Gifts
The Foundation adheres to the Laws of the Louisiana Regents and University
of Louisiana System Board of Supervisors regarding naming facilities for
gifts in honor of donors. They provide guidance to prospective donors,
the University and the Foundation staff regarding the size and structure
of gifts necessary to attain various levels of named recognition. In addition,
minimum endowment funding levels for other non-capital gifts have been
set to ensure endowed funds are sufficient in size to support the desired
purposes. Additional information is available from the Information Liaison.
Minimum endowment levels are also accessible on the Foundation’s
website at www.gbgfoundation.org.
6. Biographical Information of Donors Who Consent to Disclosure
For purposes of this Policy, “biographical information” is information of a non-personal nature that is generally available from third-party sources (e.g., telephone books, business journals, news clippings, etc.) and that if disclosed would not violate any legal or ethical obligations of the Foundation or its representatives. Biographical information is divided into three categories and the Foundation manages this information according to the terms of its Development Services Agreement with the University.
a) Information available to the public: Grambling State University degree information is released to anyone within or outside the University as a matter of public record.
b) Information available with donor permission: Requests for addresses or telephone numbers from alumni, donors or other persons outside the University must be made in writing to the Information Liaison of the Grambling Black & Gold Foundation, accompanied by a stamped envelope with no address. These requests will be mailed to the individual for whom information is being requested. The individual may then determine how or whether to respond to the requester. The Foundation honors all donors requests regarding confidentiality, anonymity or listings in publications or directories. If the donor does not provide disclosure guidance, the Foundation follows a presumption in favor of privacy and does not disclose this information. Biographical information shall not be used for commercial, political or religious purposes.
c) Information available to Grambling State University: The use of all other donor information is restricted to purposes consistent with the mission of the Foundation and subject to written agreements between the various colleges and university units and the Foundation.
Requests for biographical information should be directed to the Information
Liaison and will be processed according to the above-stated guidelines.
E. Foundation Investment Information
The Foundation invests funds in a variety of instruments. It is the Foundation’s policy to promptly and openly respond to all requests for information regarding the Foundation’s investment policies. Information is available from the Foundation’s Information Liaison. Specific information available includes:
1. The Foundation’s Investment Policy Statement
The Foundation Investment Policy Committee develops and the Board of Directors approves a Statement of Investment Objectives and Policies. A summary of the current document is available on the Foundation’s website (www.gbgfoundation.org) and a copy of the full document is available from the Information Liaison.
2. The Foundation’s Investments
A summary of the Foundation’s investment portfolio is made available
as part of IRS Form 990, and the Foundation will make every effort to
fully answer specific questions regarding Foundation investments. All
questions regarding Foundation investments should be directed to the Information
Liaison.
F. Distribution of Funds Information
In distributing funds raised for the University, the Foundation acquires and generates information, including procedures, policies, information relative to specific disbursements, and information relative to the Foundation’s larger relationship with the University. The following information regarding these items is available voluntarily from the Foundation:
1. Disbursement Guidelines
The Foundation transfers funds to the University for disbursement. The University expends these funds following its procedural guidelines and policies, including but not limited to, proprietary use of expenditures and donor restrictions. The University also periodically reports to the Board of Supervisors and various state agencies regarding private gift support provided for capital projects.
2. Contracts between the Foundation and Grambling State University
Contracts between the Foundation and the University are a matter of public record. The Foundation, therefore, will make available such contracts.
While every effort is made to keep constraints to a minimum, privacy and trade secret concerns necessarily place some limits on complete openness. In an effort to be as open as possible, the Foundation’s practice is to detail the central principles for non-disclosure of certain types of information in order to ensure that a specific, clear and necessary reason is articulated when information is not disclosed.
A. Privacy Constraints
The Foundation respects the privacy concerns of donors (including prospective
donors). Accordingly, it has adopted a structured approach
to the handling of personally sensitive information. First, the Foundation
does not disclose private information entrusted to it. Examples of private
information include wills, personal financial records, trust documents,
and gift agreements. Second, it is only with the donor’s consent
that the Foundation discloses biographical information for non-university-related
purposes. (The term “biographical information” is defined
in Part III.D.6.)
The following listing is illustrative of the type of information we would
not disclose pursuant to this Section IV.A. It includes, but is not limited
to:
1. Private Information
The Foundation does not disclose private information. For purposes of the Policy, “private information” is information of a personal and sensitive nature that is not generally available from third-party sources and that, if disclosed, would violate legal or ethical obligations of the Foundation or its representatives. This information includes, but is not limited to, trust documents, wills, and employee personnel records. Further, to the extent the Foundation obtains or maintains personal financial information on individual or entities, this information is not disclosed.
2. Biographical Information of Donors Who Desire Privacy
The Foundation only discloses biographical information for non-university related purposes after obtaining the donor’s written consent. Biographical information is defined in Part III.D.6 as information of a non-personal nature that is generally available from third-party sources (e.g., telephone books, business journals, news clippings, etc.) and that if disclosed would not violate any legal or ethical obligations of the Foundation or its representatives. This information is kept confidential because it is the Foundation’s policy (shared by nearly all philanthropic organizations) that those who generously give resources have the right to maintain confidentiality or anonymity.
3. Gift Amounts
The Foundation does not disclose the specific amount of a gift, unless
a donor consents to this disclosure. This information is kept confidential
because individual gift amounts, if disclosed, may have the effect of
identifying donors. This exclusion, however, does not extend to information
contained in the document discussed in Part III. The Foundation’s
goal is to remain accountable for its fundraising performance, while respecting
the privacy of the Foundation’s constituents.
4. Personal Information Regarding Employees
The Foundation maintains appropriate, and in many cases, legally mandated, safeguards to respect the personal privacy of staff (and/or employees, where applicable) and the confidentiality of personal information about them. Thus, individual staff record and personal medical information, as well as proceedings of internal appeal mechanisms, are not disclosed.
B. Strategic and Competitive Business Information Constraints
Because fundraising is a competitive and sophisticated enterprise that requires strategic planning and the use of confidential fundraising techniques and approaches, the Foundation is unable to disclose certain information without compromising its competitive position and ability to support the university. Much of this information is protected by the Louisiana Trade Secrets Act. The following listing is illustrative of the type of information we would not disclose pursuant to this Section IV.B. It includes, but is not limited to:
1. Meeting Agendas, Minutes and Notes of the Board of Directors (or
Trustees) and Committees.
Corporate records of the meetings of the Foundation’s Board of Directors,
committees, task forces or ad hoc groups are maintained for internal,
strategic reference only. Unless the Board of Directors approves disclosure,
documents prepared for the consideration or review and approval of the
board are not publicly available.
2. Individual Expense Vouchers and Trip Reports
This information is confidential because it contains proprietary information, including names of prospective donors and the names of individuals who have not consented to the disclosure of their biographical information. In addition, to the extent individual expenses vouchers and trip reports might reflect on the Foundation’s performance as a philanthropic institution, the information is openly available from other sources, including the Foundation’s voluntary annual audit. For these reasons, the individual expense vouchers and the documents that support them are not disclosed by the Foundation.
3. Prospect Lists and Prospect Cultivation Plans
This information is confidential because it is protected by Louisiana’s
Trade Secrets Act. The Foundation’s prospect list and cultivation
plans are afforded statutory protection because they derive independent
economic value, actual and potential, from not being generally known.
(See RS 51:1431 http://www.legis.state.la.us/lss/lss.asp?doc=104048).
4. Grambling Black and Gold Foundation’s Alumni and Donor Database
The Grambling Black and Gold Foundation’s alumni and donor database contains data and information critical to carrying out the Foundation’s mission. The database is proprietary to the Foundation, is managed by the Foundation and constitutes confidential information and trades secrets. It provides the Foundation with a competitive and economic advantage over its peer institutions by serving as the central repository for the Foundation’s information. This information is protected by statute because it derives independent economic value, actual and potential, from not being generally known.
V. REVIEW PROCEDURES FOR INFORMATION REQUESTS
It is the Foundation’s goal to make reasonable accommodations for those who wish to examine publicly available information held by the Foundation. Accordingly, the Foundation adheres to the following guidelines:
A. Information Liaison
The Chief Executive Officer (CEO) of the Foundation will designate a Foundation staff member as its Information Liaison. All requests for access to information available for public review will be directed to the Information Liaison, who will provide guidance on interpretation of this Policy and arrange for access to the requested information available for public review.
The Foundation will make every effort to assist an organization or an individual in obtaining requested information, but for administrative and legal reasons it cannot be obligated to create a record that does not exist at the time of the request. In addition, while the Foundation will make every effort to accommodate all requests, the Foundation is unable to handle blanket requests for unreasonable amounts of information.
Requests for information will be processed in the order received in a reasonable length of time. If the requested information is available on the Foundation website, the requester will be so notified.
B. Cost of Producing Requested Information
If an information request requires the retrieval and reproduction of documents listed in Part III of this Policy, a reasonable per-page fee will be charged in most cases. The per-page fee shall not exceed the actual cost to the Foundation of satisfying the request. To ensure that the fee is appropriate, the Foundation will set the per-page fee taking into account the full internal and external costs needed to produce the requested information. These costs will include, but are not limited to: overhead, retrieval, preparation, reproduction, shipping and handling. In addition, the Foundation shall charge a fee to recover the cost of the staff and professional time needed to respond to any information request. All fees shall be paid by the requesting party to the Foundation prior to receipt of requested information.
The per-page reproduction fee does not apply to copies of the Foundations IRS Forms 990 and 1023. These documents will be immediately and freely available at the Foundation’s office at Grambling State University, the President’s Office, or on the Foundation’s website at www.gbgfoundation.org.
C. Use of Restriction Regarding Donor Information
Any information disclosed by the Foundation under Part III.D.6 of this Policy is not intended and shall not be used for commercial, political or religious purposes. In addition, with respect to information provided under Part III.D.6 of this Policy, the requesting party agrees that any information disclosed by the Foundation shall be used solely in accordance with this Policy.
D. Documents not Covered by the Policy
To the extent the Foundation receives requests for information not accounted for in this Policy, the Board of Directors or its designee will evaluate such requests within a reasonable time and determine whether the requested information can be disclosed consistent with this Policy. Absent a specific, clear and necessary constraint on disclosure, the Board of Directors or its designee shall voluntarily disclose the requested information.
The Foundation submits to an annual audit of its financial statements. The Foundation believes that it must be held uniquely accountable given its mission to support a public institution. The audited financial statements with auditor’s opinion shall be made available for public inspection.
VII. MAKING PUBLICLY AVAILABLE INFORMATION MORE
UNDERSTANDABLE
The Foundation recognizes that it can be difficult to decipher pertinent information from many of its records available for public review, particularly from its Internal Revenue Service Form 990 and supporting documents. Therefore, after filing its Form 990 with the IRS, the Foundation will annually review the information with the goal of being able to explain it in lay terms.
This process shall include, but is not limited to, providing narrative explanations of line-items in the “Revenue, Expenses, and Changes in Net Assets or Fund Balances” portion of the form, as well as narrative explanations of substantive information contained in the “Statement of Functional Expenses”, “Balance Sheets”, and “Reconciliation of Revenue per Audited Financial Statements with Revenue per Return” portions of the form. The Foundation will also attempt to offer written explanations of other portions of the form and supporting documents when such explanations are requested.
This Policy sets forth the Foundation’s practices with respect to disclosure of information; it is not and shall not be interpreted as inconsistent with the rights set out in the nationally recognized Donor Bill of Rights, APRA Statement of Ethics, or Model of Standards of Practice for the Charitable Gift Planner, all of which have been adopted by the Foundation. The Foundation further protects individual privacy rights by requiring that all Foundation directors (or Trustees), and staff members annually sign a confidentiality agreement.
IX. PERIODIC REASSESSMENT OF THE POLICY
The Foundation Board of Directors will periodically review this policy. If the Board of Directors makes changes to this Policy, it shall provide public notice on the Foundation’s website (www.gbgfoundation.org) within thirty (30) days of any substantive changes or amendments.
This Policy and future revisions shall be made publicly available.
Rev. David Jefferson, PhD.
President and Chairman
Board of Directors
Grambling Black & Gold Foundation
Submitted: November 2006
Additional Information:
Public
Information Disclosure Policies
