2022-05-12T14:32:13-05:00 2021-06-30 560747981 DIXON HUGHES GOODMAN LLP 999 S SHADY GROVE RD STE 400 MEMPHIS TN 38120 990 2020-07-01 626048540 UNIVERSITY OF MEMPHIS FOUNDATION UNIV 9016783256 635 NORMAL ST ALUMNI CENTER NO 1 MEMPHIS TN 38152 HOLLY FORD ASSOCIATE VICE PRESIDENT 9016783256 2022-05-12 1 HOLLY FORD 999009999 AMY BIBBY P00445891 9017613000 2022-05-12 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z HOLLY FORD 635 NORMAL ST ALUMNI CENTER NO 108 MEMPHIS TN 38152 71205756 0 X WWW.MEMPHIS.EDU/FOUNDATION/ X 1964 TN THE FOUNDATION ACCEPTS AND ADMINISTERS SUPPORT TO THE UNIVERSITY OF MEMPHIS. 13 13 0 13 -1232523 0 12330221 31976170 0 0 4952521 5588687 5792979 1145983 23075721 38710840 6847457 5798031 0 0 1715984 975120 0 0 0 17691932 25746372 26255373 32519523 -3179652 6191317 142154480 175396802 7678568 4416506 134475912 170980296 THE FOUNDATION ACCEPTS AND ADMINISTERS SUPPORT TO THE UNIVERSITY OFMEMPHIS. 0 0 31163562 5798031 1145983 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. 31163562 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 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 128 0 1 0 1 1 0 0 0 1 1 1 1 0 0 0 0 0 0 X 13 13 1 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 NO 108 MEMPHIS TN 38152 X MR FRED TOWLER PRESIDENT 1.00 X X 0 0 0 MR DAVID TATE VICE PRESIDENT 1.00 X X 0 0 0 MR JOHN WILFONG TREASURER 1.00 X X 0 0 0 MR DOUGLAS SCARBORO SECRETARY 1.00 X 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 X 0 0 0 JOHN ROBINSON DIRECTOR 1.00 X 0 0 0 DR M DAVID RUDD DIRECTOR 1.00 X 0 0 0 MR HARRY L SMITH DIRECTOR 1.00 X 0 0 0 BYRON MORGAN MANAGING DIRECTOR 40.00 X 0 145786 38177 CAROLYN STANLEY FOUNDATION DIRECTOR 40.00 X 0 116079 19763 0 261865 57940 0 0 1 0 EAB GLOBAL PO BOX 603519 CHARLOTTE NC 282603519 TECHNOLOGY SERVICES 217750 1 31976170 3771396 31976170 2469055 -1232523 3701578 35614548 32494916 3119632 3119632 3119632 MISC. REVENUE 611710 1145983 1145983 1145983 38710840 1145983 -1232523 6821210 X 5798031 5798031 324523 324523 492590 453781 38809 158007 158007 3208 3208 25112 25112 110064 110064 26962 26962 85 85 7658 7658 1603 1603 258 258 362519 362519 13955 13955 UNIVERSITY SUPPORT - SE 24911750 24911750 BAD DEBT EXPENSE 283060 283060 OTHER EXPENSES 138 138 32519523 31163562 1355961 0 4666916 1581356 9161705 13103196 105369030 141043979 22634309 19523924 322520 144347 142154480 175396802 7529643 4268756 148925 147750 7678568 4416506 X 2157645 4044010 132318267 166936286 134475912 170980296 142154480 175396802 6191317 30313067 0 X X 0 1 X 1 0 X 17839991 21584852 26506517 12330221 31976170 110237751 17839991 21584852 26506517 12330221 31976170 110237751 46568520 63669231 1615636 2281306 3344484 2678420 2469055 12388901 5792979 1145983 6938962 129565614 0.49140 0.65060 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 96488206 10860668 32930842 3611491 136668225 102828605 2523525 -3520946 5342978 96488206 99857196 4478136 1358203 2864930 102828605 96970031 3666417 2108987 2888239 99857196 87471476 2685194 10778303 3964942 96970031 0.00000 0.68323 0.31677 0 0 0 LIMITED PARTNERSHIPS & LLCS 19523924 F 19523924 GIFT ANNUITY OBLIGATIONS 147750 147750 X 68833787 30313067 282463 30595530 38238257 110064 362519 472583 38710840 32329403 282463 282463 32046940 110064 362519 472583 32519523 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, 2021 AND 2020. THE FOUNDATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2021, AND THERE IS NO INTEREST OR PENALTIES RELATED TO INCOME TAX ASSESSMENTS. PART XI, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSE 362,519. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSE 362,519. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENT 3890673 0 0 0 0 0 0 3890673 0 3890673 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) 5798031 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 0 0 0 0 0 0 0 0 0 BYRON MORGAN MANAGING DIRECTOR 0 145786 0 0 0 0 0 29254 0 8923 0 183963 0 0 X 24 3771396 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 A, LINE 2 RAAJ KURAPATI AND DAVID RUDD MAINTAIN A BUSINESS RELATIONSHIP DUE TO THEIR MUTUAL EMPLOYMENT AT THE UNIVERSITY OF MEMPHIS. 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 16,961 SUPPLIES 307,481 POSTAGE 24,935 PRINTING 56,003 TELEPHONE AND COMMUNICATIONS 12,989 MAINTENANCE AND REPAIRS 1,423 ANNUITY EXPENSES 18,264 PROFESSIONAL SERVICES 740,493 PUBLICITY/PUBLIC RELATIONS 3,610 RENTAL FEES 24,491 INSURANCE OTHER 6,954 OTHER EXPENSES 7,546,353 DUES AND MEMBERSHIP SUBSCRIPTIONS 157,864 MEALS AND ENTERTAINMENT 36,403 TICKETS 206 SPONSORSHIPS AND DONATIONS 82,150 GIFTS AND FLOWERS 27,224 FEES 344,593 HONORARIUMS 9,725 UNIVERSITY SUPPORT 12,440,509 USA GRANTS SPECIAL PROJECTS 2,601,653 FURNITURE AND EQUIPMENT 85,943 CONSTRUCTION AND RENOVATION 365,523 TOTAL - UNIVERSITY SUPPORT 24,911,750 FORM 990, PART XII, LINE 2C: THERE IS NO CHANGE FROM PRIOR YEAR. UNIVERSITY OF MEMPHIS 3720 ALUMNI AVENUE MEMPHIS TN 38152 620648618 PROVIDING HIGH QUALITY EDUCATIONAL OPPORTUNITIES TN 501(C) 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 282463 FAIR MARKET VALUE UNIVERSITY OF MEMPHIS D 7600907 CASH UNIVERSITY OF MEMPHIS E 3717694 CASH UNIVERSITY OF MEMPHIS B 5798031 CASH UNIVERSITY OF MEMPHIS R 26358376 CASH