2023-05-11T13:18:01-05:00 2022-06-30 440160260 FORVIS LLP 999 S SHADY GROVE RD STE 400 MEMPHIS TN 38120 990 2021-07-01 626048540 UNIVERSITY OF MEMPHIS FOUNDATION UNIV 9016783256 635 NORMAL ST ALUMNI CENTER 108 MEMPHIS TN 38152 HOLLY FORD FOUNDATION CEO 9016783256 2023-05-10 1 HOLLY FORD 999009999 AMY BIBBY P00445891 9017613000 2023-05-10 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z HOLLY FORD 635 NORMAL ST ALUMNI CENTER 108 MEMPHIS TN 38152 85612955 0 X WWW.MEMPHIS.EDU/FOUNDATION/ X 1964 TN THE FOUNDATION ACCEPTS AND ADMINISTERS SUPPORT TO THE UNIVERSITY OF MEMPHIS. 17 17 0 17 45048 0 31976170 52204271 0 0 5588687 3193268 1145983 559281 38710840 55956820 5798031 7528626 0 0 975120 1097423 0 0 0 25746372 19412523 32519523 28038572 6191317 27918248 175396802 184697152 4416506 6253081 170980296 178444071 THE FOUNDATION ACCEPTS AND ADMINISTERS SUPPORT TO THE UNIVERSITY OFMEMPHIS. 0 0 25765760 7528626 559281 THE FOUNDATION PROVIDED FUNDS FOR SCHOLARSHIPS, FELLOWSHIPS, ACADEMIC ENRICHMENT AND VARIOUS OTHER PROGRAMS AND PROJECTS IN SUPPORT OF THE STUDENTS, FACULTY, STAFF AND MISSION OF THE UNIVERSITY OF MEMPHIS. 25765760 1 1 0 0 0 0 0 0 0 1 0 1 0 0 1 1 1 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 126 0 1 0 1 1 0 0 0 1 1 1 1 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X HOLLY FORD 9016783256 635 NORMAL ST ALUMNI CENTER 108 MEMPHIS TN 38152 X FRED TOWLER PRESIDENT 1.00 1.00 X X 0 0 0 DAVID TATE VICE PRESIDENT 1.00 X X 0 0 0 JOHN WILFONG TREASURER 1.00 X X 0 0 0 DOUGLAS SCARBORO SECRETARY 1.00 X X 0 0 0 HARRY L SMITH DIRECTOR 1.00 X 0 0 0 SUDHIR AGRAWAL DIRECTOR 1.00 X 0 0 0 RENE BUSTAMANTE DIRECTOR 1.00 X 0 0 0 GLYNNA CHRISTIAN DIRECTOR 1.00 X 0 0 0 TYREE DANIELS DIRECTOR 1.00 X 0 0 0 TANYA L HART DIRECTOR 1.00 X 0 0 0 RAAJKUMAR KURAPATI DIRECTOR 1.00 41.00 X 0 0 0 DAPHNE LARGE DIRECTOR 1.00 X 0 0 0 JASON LITTLE DIRECTOR 1.00 X 0 0 0 REGINALD PORTER DIRECTOR 1.00 X 0 0 0 JOHN ROBINSON DIRECTOR 1.00 X 0 0 0 DR BILL HARDGRAVE DIRECTOR 1.00 1.00 X 0 0 0 MONICA WHARTON DIRECTOR 1.00 X 0 0 0 BYRON MORGAN MANAGING DIRECTOR 40.00 X 0 104031 22243 CAROLYN STANLEY FOUNDATION DIRECTOR 40.00 X 0 124477 21828 HOLLY FORD FOUNDATION CEO 20.00 20.00 X 0 87500 15425 0 316008 59496 0 0 0 0 EAB GLOBAL PO BOX 603519 CHARLOTTE NC 282603519 TECHNOLOGY SERVICES 222281 SUZANNE FLUKE DRUMWRIGHT 7944 CROSS VILLAGE CV GERMANTOWN TN 38138 MARKETING CONSULTING 181892 2 52204271 987752 52204271 3142507 45048 3097459 29706896 29656135 50761 50761 50761 MISC. REVENUE 611710 559281 559281 559281 55956820 559281 45048 3148220 X 7528626 7528626 347322 347322 605539 493907 111632 144562 144562 8943 8943 40863 40863 174297 174297 75617 75617 1926 1926 11917 11917 1403 1403 385 385 304036 304036 15262 15262 UNIVERSITY SUPPORT - SE 17743227 17743227 BAD DEBT EXPENSE 1034537 1034537 OTHER EXPENSES 110 110 28038572 25765760 2272812 0 1581356 3528866 13103196 29200192 141043979 131847371 19523924 19977808 144347 142915 175396802 184697152 4268756 6111706 147750 141375 4416506 6253081 X 4044010 4239984 166936286 174204087 170980296 178444071 175396802 184697152 27918248 -20454473 0 X X 0 1 X 1 0 X 21584852 26506517 12330221 31976170 52204271 144602031 21584852 26506517 12330221 31976170 52204271 144602031 58188055 86413976 2281306 3344484 2678420 2469055 3142507 13915772 5792979 1145983 559281 7498243 166016046 0.52050 0.49140 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 136668225 12285239 -20308899 2767715 125876850 96488206 10860668 32930842 3611491 136668225 102828605 2523525 -3520946 5342978 96488206 99857196 4478136 1358203 2864930 102828605 96970031 3666417 2108987 2888239 99857196 0.00000 0.84000 0.16000 0 0 0 LIMITED PARTNERSHIPS & LLCS 19977808 F 19977808 GIFT ANNUITY OBLIGATIONS 141375 141375 X 35173017 -20454473 149003 -20305470 55478487 174297 304036 478333 55956820 27709242 149003 149003 27560239 174297 304036 478333 28038572 PART V, LINE 4: THE UNIVERSITY OF MEMPHIS FOUNDATION'S ENDOWMENT ACCOUNTS CONSIST OF DONOR-RESTRICTED ENDOWMENT FUNDS AND INCLUDE APPROXIMATELY 600 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. AS REQUIRED BY GAAP, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR IMPOSED RESTRICTIONS. THE BOARD OF DIRECTORS OF THE UNIVERSITY OF MEMPHIS FOUNDATION HAS INTERPRETED UPMIFA AS REQUIRING THE PRESERVATION OF THE FAIR VALUE OF THE ORIGINAL GIFT AS OF THE GIFT DATE OF THE DONOR-RESTRICTED ENDOWMENT FUNDS ABSENT EXPLICIT DONOR STIPULATIONS TO THE CONTRARY. AS A RESULT OF THIS INTERPRETATION, THE FOUNDATION CLASSIFIES AS PERMANENTLY RESTRICTED NET ASSETS (A) THE ORIGINAL VALUE OF GIFTS DONATED TO THE PERMANENT ENDOWMENT FUNDS AND (B) THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO THE PERMANENT ENDOWMENT FUNDS. THE REMAINING PORTION OF THE DONOR-RESTRICTED ENDOWMENT FUNDS THAT IS NOT CLASSIFIED IN PERMANENTLY RESTRICTED NET ASSETS IS CLASSIFIED AS TEMPORARILY RESTRICTED NET ASSETS UNTIL THOSE AMOUNTS ARE APPROPRIATED FOR EXPENDITURE BY THE FOUNDATION IN A MANNER CONSISTENT WITH THE STANDARD OF PRUDENCE PRESCRIBED BY UPMIFA. IN ACCORDANCE WITH UPMIFA, THE FOUNDATION CONSIDERS THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO APPROPRIATE OR ACCUMULATE DONOR RESTRICTED ENDOWMENT FUNDS: - THE DURATION AND PRESERVATION OF THE FUND - THE PURPOSES OF THE FOUNDATION AND THE DONOR-RESTRICTED ENDOWMENT FUND - GENERAL ECONOMIC CONDITIONS - THE POSSIBLE EFFECT OF INFLATION AND DEFLATION - THE EXPECTED TOTAL RETURN FROM INCOME AND THE APPRECIATION OF INVESTMENTS - OTHER RESOURCES OF THE FOUNDATION - THE INVESTMENT POLICIES OF THE FOUNDATION PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS SIMILARLY EXEMPT FROM TENNESSEE STATE INCOME TAXES UNDER APPLICABLE PROVISIONS OF THE TENNESSEE TAX REGULATIONS. THE FOUNDATION'S LIMITED PARTNERSHIP INVESTMENTS GENERATE UNRELATED BUSINESS INCOME OR LOSS ACTIVITY WHICH IS SUBJECT TO FEDERAL INCOME TAXES. THERE WAS NO UNRELATED BUSINESS INCOME TAX EXPENSE (UBIT) FOR THE YEARS ENDED JUNE 30, 2022 AND 2021. THE FOUNDATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2022, AND THERE IS NO INTEREST OR PENALTIES RELATED TO INCOME TAX ASSESSMENTS. PART XI, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSE 304,036. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSE 304,036. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENT 2563101 0 0 0 0 0 0 2563101 0 2563101 1 0 0 1 1 0 PART III ACCOUNTING METHOD: SCHEDULE F, PART I, LINE 3, COLUMN F: THIS AMOUNT REPRESENTS BOOK VALUE OF FOREIGN INVESTMENTS. 1 UNIVERSITY OF MEMPHIS 3720 ALUMNI AVE MEMPHIS TN 38152 620648618 501 (C) 7528626 0 AWARDS & SCHOLARSHIPS 1 PART I, LINE 2: THE FOUNDATION MAKES FUNDS AVAILABLE TO THE UNIVERSITY OF MEMPHIS. THE UNIVERSITY SELECTS RECIPIENTS IN ACCORDANCE WITH DONOR INSTRUCTIONS. X 17 987752 FAIR MARKET VALUE 0 1 1 PART I, LINE 32B: BROKERAGE ACCOUNTS ARE MAINTAINED WITH VARIOUS PUBLIC FIRMS FOR THE PURPOSE OF RECEIVING AND SELLING GIFTS OF SECURITIES. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE MANAGING DIRECTOR AND THE FOUNDATION DIRECTOR PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THIS POLICY IS MONITORED AND ENFORCED BY THE UNIVERSITY OF MEMPHIS FOUNDATION'S OFFICERS AND EMPLOYEES IN A MANNER ADDRESSED IN THE CODE OF ETHICS SECTION OF THE FOUNDATION'S POLICIES AND PROCEDURES. FORM 990, PART VI, SECTION B, LINE 15 ALL PAID FOUNDATION POSITIONS ARE SUBJECTED TO AN INDEPENDENT SALARY REVIEW BY STATE OF TENNESSEE PERSONNEL IN ACCORDANCE WITH STATE OF TENNESSEE POLICIES AND PROCEDURES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY AVAILABLE FOR PUBLIC INSPECTION. THE FINANCIAL STATEMENTS ARE MADE AVAILABLE ON THE ORGANIZATIONS WEBSITE. FORM 990, PART VII, SECTION A: THE UNIVERSITY OF MEMPHIS FOUNDATION (UMF) REIMBURSES THE UNIVERSITY OF MEMPHIS (U OF M) FOR ALL OF THE COMPENSATION AND BENEFITS OF UMF'S MANAGING DIRECTOR. THEREFORE, THE FORM W-3 IS FILED BY THE UNIVERSITY OF MEMPHIS. FORM 990, PART IX, LINE 24A, UNIVERSITY SUPPORT DETAIL: CONFERENCES AND TRAVEL 97,898 SUPPLIES 281,405 POSTAGE 10,259 PRINTING 105,382 TELEPHONE AND COMMUNICATIONS 3,777 MAINTENANCE AND REPAIRS 1,301 ANNUITY EXPENSES 19,281 PROFESSIONAL SERVICES 1,581,741 PUBLICITY/PUBLIC RELATIONS 83,650 RENTAL FEES 109,015 INSURANCE OTHER 72,315 OTHER EXPENSES 7,659,856 DUES AND MEMBERSHIP SUBSCRIPTIONS 168,018 MEALS AND ENTERTAINMENT 420,403 TICKETS 11,764 SPONSORSHIPS AND DONATIONS 1,849,538 GIFTS AND FLOWERS 40,259 FEES 695,196 HONORARIUMS 24,550 UNIVERSITY SUPPORT 1,746,646 USA GRANTS SPECIAL PROJECTS 2,003,011 FURNITURE AND EQUIPMENT 368,492 CONSTRUCTION AND RENOVATION 389,470 TOTAL - UNIVERSITY SUPPORT 17,743,227 FORM 990, PART XII, LINE 2C: THERE IS NO CHANGE FROM PRIOR YEAR. THE UNIVERSITY OF MEMPHIS 3720 ALUMNI AVENUE MEMPHIS TN 38152 620648618 PROVIDING HIGH QUALITY EDUCATIONAL OPPORTUNITIES TN 501(C)(3) LINE 2 N/A 0 AUXILIARY SERVICES FOUNDATION 635 NORMAL STREET MEMPHIS TN 38152 472335297 OPERATES AUXILIARY ENTERPRISE THAT BENEFIT THE UNIVERSITY OF MEMPHIS TN 501(C)(3) LINE 7 N/A 0 THE UNIVERSITY OF MEMPHIS RESEARCH FOUNDATION 365 INNOVATION DR STE 303 MEMPHIS TN 38152 205400381 ENCOURAGE, PROMOTE, AND AID THE FULFILLMENT OF EDUCATION AND RESEARCH TN 501(C)(3) LINE 5 N/A 0 0 1 0 1 1 0 0 0 0 0 0 0 1 1 0 1 0 1 1 UNIVERSITY OF MEMPHIS M 149003 FAIR MARKET VALUE UNIVERSITY OF MEMPHIS D 5810969 CASH UNIVERSITY OF MEMPHIS E 5351290 CASH UNIVERSITY OF MEMPHIS B 7528626 CASH UNIVERSITY OF MEMPHIS R 19146080 CASH UNIVERSITY OF MEMPHIS FOUNDATION E 737788 CASH