BOARD OF TRUSTEES
BOARD OF TRUSTEES UNIVERSITY OF THE VIRGIN ISLANDS IRS Form 990 Resolution approving IRS Form 990 for the year ended September 30, 2020 for the University of the Virgin Islands WHEREAS, the Internal Revenue Service (IRS) requires most tax-exempt organizations with gross receipts of at least $2000,000 or assets worth at least $500,000 to file IRS Form 990 on an annual basis; and WHEREAS, Form 990 requires organization to describe their mission and to disclose financial details on its revenues, expenses, assets and liabilities; and WHEREAS, Form 990 requires organizations to provide an overview of their activities, governance structure, and financial information and provides the IRS with necessary information to uphold their tax-exempt status; and WHEREAS, Form 990 requires organizations to report on how they are governed, specifically the names of their officers, directors, highly compensated employees and other employees who are involved in managing the organization; and WHEREAS, the University has determined it is legally required to file IRS Form 990 on an annual basis; and WHEREAS …
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BOARD OF TRUSTEES UNIVERSITY OF THE VIRGIN ISLANDS IRS Form 990 Resolution approving IRS Form 990 for the year ended September 30, 2020 for the University of the Virgin Islands WHEREAS, the Internal Revenue Service (IRS) requires most tax-exempt organizations with gross receipts of at least $2000,000 or assets worth at least $500,000 to file IRS Form 990 on an annual basis; and WHEREAS, Form 990 requires organization to describe their mission and to disclose financial details on its revenues, expenses, assets and liabilities; and WHEREAS, Form 990 requires organizations to provide an overview of their activities, governance structure, and financial information and provides the IRS with necessary information to uphold their tax-exempt status; and WHEREAS, Form 990 requires organizations to report on how they are governed, specifically the names of their officers, directors, highly compensated employees and other employees who are involved in managing the organization; and WHEREAS, the University has determined it is legally required to file IRS Form 990 on an annual basis; and WHEREAS, the University has completed IRS Form 990 for the year ended September 30, 2020 which requires that the form be shared with the University’s governing board, the Board of Trustees of the University of the Virgin Islands; and WHEREAS, on June 3, 2021 at a duly called meeting of the Finance and Budget Committee of the Board of Trustees, the Committee voted to recommend to the Board of Trustees the acceptance of the completed IRS Form 990 for the year ended September 30, 2020. NOW THEREFORE BE IT RESOLVED BY THE BOARD OF TRUSTEES: That the Board of Trustees of the University of the Virgin Islands hereby accepts the completed IRS Form 990 for the year ended September 30, 2020 and authorizes the President and Vice President for Administration and Finance/CFO of the University of the Virgin Islands to file said form as required by the IRS code. IRS Form 990 Resolution CERTIFICATION The undesigned hereby certifies that the foregoing is a true and exact copy of a resolution approved by the Board of Trustees of the University of the Virgin Islands at a meeting on Saturday, June 19, 2021, as recorded in the minutes of that meeting. JUNE 19, 2021 ____________________________________________ ________________________ Secretary of the Board Date