MEMORANDUM OF AGREEMENT: ISUAA & ISU MEMORANDUM OF AGREEMENT BETWEEN THE IOWA STATE UNIVERSITY ALUMNI ASSOCIATION AND IOWA STATE UNIVERSITY OF SCIENCE AND TECHNOLOGY This memorandum of agreement (hereafter “agreement”) is entered into this 12th day of February 2019 by and between the Iowa State University Alumni Association (hereafter the “ISUAA” or “the Association”), with an address at Iowa State University Alumni Center, 429 Alumni Lane, Ames, Iowa 50011-1403, and the Iowa State University of Science and Technology (hereafter “the University”), with an address at 1750 Beardshear Hall, Ames, Iowa, 50011-2035. This agreement replaces the agreement entered into the 1st day of July, 2008.
PREAMBLE WHEREAS, the Iowa State University Alumni Association was organized in 1878 and incorporated in 1904 as a separately incorporated, independent, self-governing, nonprofit corporation existing under and by virtue of the laws of the State of Iowa; and WHEREAS, the principal purposes of the ISUAA are to promote the interest and welfare of Iowa State University and its alumni, students, and friends and to engage the talents and resources of alumni, students, and friends in the life, work, and aspiration of the University; and WHEREAS, the ISUAA provides an organized means for alumni and friends of the University to channel their voices comparable to structures in place for faculty, staff, and students of the University; and WHEREAS, the ISUAA is recognized by the Internal Revenue Service as having tax-exempt status under Section 501(c)(3) and 509 (a)(1) of the Internal Revenue Code of 1986; and WHEREAS, success of both the University and the ISUAA is enhanced through coordination, regular and open communication, trust, shared values, and the shared desire to advance the interests of the University and its alumni; and WHEREAS, it is in the mutual interest of both parties to set forth in writing a basic framework to acknowledge the independence of the parties while defining their appropriate relationships,
NOW THEREFORE, in consideration of the mutual promises set forth by the University and the ISUAA in this memorandum of agreement and entered into in order to more fully define and clarify their mutual relationship, the parties hereby agree as follows:
AGREEMENT I. Relationship of the parties 1. The parties shall recognize and respect the separate legal statuses of the ISUAA and the University and the roles and obligations of their respective governing boards. 2. The University contracts with the ISUAA to perform the campus’ official alumni relations function, which promotes the strategic interests of the University. 3. The parties agree to operate on the basis of open communication toward the goals of coordination and enhancement of the parties’ respective missions and goals. The ISUAA and University agree to provide multiple mechanisms for regular communication to discuss, plan, and coordinate operations and initiatives of the parties. 4. The president of Iowa State University, or the president’s designee, and the University’s Treasurer shall serve as ex-officio, voting members of the ISUAA Board of Directors, thereby strengthening open, effective communication between the University and the Association. 5. The ISUAA Board of Directors shall diligently consult and coordinate with the University’s president in matters pertaining to recruiting, hiring, terminating, evaluating, and compensating the Talbot Endowed ISUAA President and CEO (hereafter “Talbot Endowed President and CEO”). Specifically, a. The ISUAA Board of Directors shall follow generally accepted procedures used by the University for hiring key University employees, and shall involve appropriate officers of the University in the search process. b. The ISUAA Board of Directors shall evaluate the Talbot Endowed President and CEO after consultation with the University president, who shall evaluate the Talbot Endowed President and CEO’s contribution to meeting long-term and short-term goals set by the University and the University president.
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