In face of state audit, YSU Foundation seeks to remain private

Staff report

YOUNGSTOWN

The Youngstown State University Foundation will seek a court ruling clarifying its status as a private foundation in an attempt to forgo state oversight.

Paul McFadden, foundation president, issued a statement Friday afternoon detailing the foundation’s decision to file for a declaratory judgment from Franklin County Common Pleas Court in Columbus.

The foundation filed for the ruling after receiving word from the state auditor’s office the state would determine the organization’s auditor for this year.

McFadden contends the foundation has conducted its own audit privately for 50 years and operates independently of any public funding or assistance, and is therefore exempt from state oversight.

He said the filing is not to “accuse anyone of wrongdoing” but to settle a matter of opinion and protect the organization’s right to select its own auditor.

McFadden maintained the effort was not an attempt to conceal information from the state, pointing to the foundation’s publicly available 990 form on its website and its selection of auditors from a state-approved list of “preferred vendors.”

“We’re very proud of our history as a private and autonomous organization,” McFadden said.