2021-02-16T08:21:51-06:00 2020-06-30 PricewaterhouseCoopers LLP 101 SEAPORT BLVD SUITE 500 BOSTON MA 02210 990 2019-07-01 066070722 The University of Connecticut Foundation Inc % GERALD GANZ JR UNIV 8604865000 2390 ALUMNI DRIVE UNIT 3206 STORRS CT 062693206 MELISSA MAYNARD INTERIM SVP FINANCE 8604865000 2021-02-11 true Gwen Spencer P00641463 6175305000 2021-02-11 2019 2022-09-23 18:48:47Z Melissa Maynard 2390 ALUMNI DRIVE UNIT 3206 STORRS CT 062693206 88638282 false X www.foundation.uconn.edu X 1964 CT See Schedule O 34 33 220 40 99135 -186187 43206338 39475294 11460779 12443104 13471924 36605272 89166 -49607 68228207 88474063 35053961 25842677 0 0 16847160 17283153 332670 350418 17151761 9918999 9631999 62152790 53108247 6075417 35365816 597750214 617597919 47706741 41099084 550043473 576498835 X See Schedule O false false 8735923 8735923 Scholarships, Awards, and Fellowships The University of Connecticut Foundation, Inc. receives gifts on behalf of donors, restricted to the support of financial aid for University of Connecticut students. To ensure compliance with all University, federal, and state financial aid requirements, the University selects the student recipients and makes the awards directly to students. After receiving appropriate documentation from the University, the Foundation provides grants to the University to fund financial aid expenditures. The expenditures are funded from investment income earned on endowment funds and gifts restricted for financial aid. 5855244 5855244 Program Services The University of Connecticut Foundation, Inc. receives gifts on behalf of donors, restricted to the support of programs at the University. Generally, the expenditure is made to the vendor directly by the University with the Foundation then providing a grant to the University to fund the expenditures after receiving appropriate documentation. Occasionally the Foundation will pay the vendor directly. 7472340 7472340 Endowed Chairs and Professorships The University of Connecticut Foundation, Inc. received gifts on behalf of donors restricted to support of University of Connecticut faculty compensation and research. To ensure compliance with all University and state personnel policies and for W-2 reporting purposes, the University pays all faculty directly for compensation related items. After receiving appropriate documents from the University, the Foundation provides grants to the University to fund faculty compensation expenditures. For non-compensation expenditures in support of faculty (e.g. research materials and equipment), generally the expenditure is made to the vendor directly by the University with the Foundation then providing a grant to the University to fund the expenditure after receiving appropriate documentation. Occasionally, the Foundation will pay the vendor directly. 3779170 3779170 12443104 25842677 true true false true false false false false true true true true false true false false true false false false true false false true true false false true false true true false false false false false false false false false false true false false false false true true true false false true 160 0 true 220 true true true true BD CJ false false false true true false false false false false false X 34 33 false false false false false false false true true false false true true true true true true true true false CA KY MD MA MI MN NH NJ OR SC UT WV WI X X GERALD GANZ JR 8604865000 2390 ALUMNI DRIVE UNIT 3206 STORRS CT 062693206 JACOB LEMON Sr. VP for Development 40.0 0.0 X 283432 0 48287 SCOTT ROBERTS President and CEO 40.0 0.0 X X 294549 0 28802 GERALD GANZ Sr VP of Finance & Admin & CFO 40.0 0.0 X 270235 0 49040 Brian Otis VP of Principal Gifts 40.0 0.0 X 245020 0 45597 SUZANNE O'CONOR General Counsel 40.0 0.0 X 247047 0 24226 MO COTTON KELLY VP ALUMNI RELATIONS & COMM. 40.0 0.0 X 225797 0 40252 FRANK GIFFORD AVP for Develop.,Cons. Program 40.0 0.0 X 178964 0 39130 MICHAEL OBLINGER Sr Assoc Athletic Dir of Dev 40.0 0.0 X 159204 0 37106 SHAHID FAROOQI Director of Investments 40.0 0.0 X 156270 0 36346 JEFFERY ROBIN AVP for Regional Development 40.0 0.0 X 153425 0 27411 JOHN FODOR Former President and CEO 40.0 0.0 X 142937 0 13532 Walter R Allen DIRECTOR 1.0 0.0 X 0 0 0 George R Aylward Jr Director 1.0 0.0 X 0 0 0 Mark A Beaudoin Director 1.0 0.0 X 0 0 0 Alan R Bennett Director 1.0 0.0 X 0 0 0 Melinda T Brown Director 1.0 0.0 X 0 0 0 Noha H Carrington Director 1.0 0.0 X 0 0 0 William B Clemens II Director 1.0 0.0 X 0 0 0 Sue A Collins Director from October 2019 1.0 0.0 X 0 0 0 Leah A Darak Director 1.0 0.0 X 0 0 0 Angelo DeFazio Director 1.0 0.0 X 0 0 0 Andrea B Dennis-LaVig Director from October 2019 1.0 0.0 X 0 0 0 Craig A Douglas Director from October 2019 1.0 0.0 X 0 0 0 Amy J Errett Director 1.0 0.0 X 0 0 0 Drew Figdor Director 1.0 0.0 X 0 0 0 David H Ford Director 1.0 0.0 X 0 0 0 Albert J Foreman Director 1.0 0.0 X 0 0 0 Jonathan L Greenblatt Director 1.0 0.0 X 0 0 0 Steven M Greenspan Director 1.0 0.0 X 0 0 0 Debra A Hess Director 1.0 0.0 X 0 0 0 Michael G Koppel Treasurer 1.0 0.0 X X 0 0 0 John P Malfettone Chairman 1.0 0.0 X X 0 0 0 Kimberly T Manning Director 1.0 0.0 X 0 0 0 Benjamin W Michelson Director 1.0 0.0 X 0 0 0 Joseph E Parsons Director 1.0 0.0 X 0 0 0 William J Quinlan II Director 1.0 0.0 X 0 0 0 Lori Riiska Director 1.0 0.0 X 0 0 0 Anthony Rizza Director 1.0 0.0 X 0 0 0 Michael K Rosen Director 1.0 0.0 X 0 0 0 Adam L Schwartz Director/Secretary 1.0 0.0 X X 0 0 0 Robert I Sherman Director 1.0 0.0 X 0 0 0 Nadine F West Director 1.0 0.0 X 0 0 0 James F Whalen Jr Director from October 2019 1.0 0.0 X 0 0 0 Harriet Munrett Wolfe Director 1.0 0.0 X 0 0 0 Craig Ashmore Director to Oct. 2019 1.0 0.0 X 0 0 0 Sue Bird Director to September 2019 1.0 0.0 X 0 0 0 Patrick Campion Director to September 2019 1.0 0.0 X 0 0 0 Frances Del Boca Director to September 2019 1.0 0.0 X 0 0 0 Douglas Lawrence Director to September 2019 1.0 0.0 X 0 0 0 Robert Skinner Director to September 2019 1.0 0.0 X 0 0 0 Mark Sinatro Director to September 2019 1.0 0.0 X 0 0 0 2356880 0 389729 41 true true true Stepstone Group LP 4275 Executive Square Ste 5000 LAJOLLA CA 92037 Invest. Consulting 466944 Wheels Up Partners LLC 220 West 42nd St 9th Floor NEW YORK NY 10036 Travel Services 375431 MBAF Certified Public Accountants 3150 SE 38th Avenue 12th Floor CORAL GABLES FL 33146 Software Services 261123 Ruffalo Cody HldgsRuffalo Noel Lev 1025 Kirkwood Parkway SW CEDAR RAPIDS IA 52404 Phone Solicitations 244385 PricewaterhouseCoopers LLP PO Box 7247-8001 PHILADELPHIA PA 19170 Auditing Services 187285 6 220678 39254616 3236128 39475294 UNIVERSITY FEE FOR SERVICES 900099 12150201 12150201 UNIV ENDOW ADMIN FEE 900099 292903 292903 12443104 9157949 99135 9058814 0 0 0 0 0 27447323 27447323 27447323 27447323 114612 220678 164219 -49607 -49607 0 0 0 0 0 0 0 88474063 12443104 99135 36456530 25842677 25842677 0 0 0 1325919 292028 1033891 0 12024021 3359745 8664276 979759 272358 707401 1983946 558260 1425686 969508 269508 700000 0 30265 30265 217047 217047 385 385 350418 350418 3710573 3710573 675340 313009 362331 21443 4628 16815 770201 148575 621626 1024538 308118 716420 0 362856 69245 293611 396568 47186 349382 0 57290 17931 39359 263226 31797 231429 0 421139 145003 276136 168001 154729 13272 SPECIAL EVENTS 978805 61819 916986 DUES,SUBSCRIPTIONS, & MEMBERSH 242796 65234 177562 DONOR CULTIVATION 234148 864 233284 FOOD 32673 27569 5104 24705 8318 16387 53108247 25842677 10113809 17151761 15897891 28726132 4921539 6396165 19018122 21707610 632834 2120520 0 0 0 0 0 0 8400 8400 379704 328811 9167422 4930150 4606901 4237272 242805706 219578461 167716210 202213677 0 0 0 0 141762907 132280871 597750214 617597919 16967926 10576816 0 0 0 0 10000000 7500000 17132863 17225395 0 0 0 0 3605952 5796873 0 0 47706741 41099084 X 11864923 12470263 538178550 564028572 550043473 576498835 597750214 617597919 X 35365816 -8412499 -497955 X false true X true false X 42383683 38506381 43775533 43206338 39475294 207347229 0 0 42383683 38506381 43775533 43206338 39475294 207347229 10061 207337168 8761282 12382769 10912511 7600562 9157949 48815073 20305 967968 988273 114612 114612 257265187 50993760 0.80593 0.79950 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 591 591 49646919 49647510 1000000 250000 1000000 1000000 1000000 1000000 4000000 6000000 2804 610 23959 591 27964 250000 250000 250000 250000 1000000 1500000 2804 610 23959 591 27964 false true X 458742653 13928680 22234092 14879947 8220026 471805452 446492267 18315088 17201432 15398102 7868032 458742653 401505076 36134103 32249710 15587590 7809032 446492267 362419000 16697000 42316000 13024000 6903000 401505000 368179000 19358000 -4768000 13755000 6595000 362419000 0.00450 0.97690 0.01860 false false 201361 201361 6372170 3132708 3239462 1022260 526563 495697 1571631 1270879 300752 4237272 SECURITIES NOT PUBLICLY TRADED 202213677 F 202213677 CAPITAL LEASES 39922 FUNDS HELD IN TRUST BY OTHERS 10422178 DEFERRED BOND & NOTE ISSUANCE 105623 ENDOWMENT HELD FOR UNIVERSITY 15187090 CSV OF LIFE INSURANCE POLICIES 570798 LIMITED PARTNERSHIP INVESTMENT 105955260 132280871 75585766 -8412499 -4640017 -13052516 88638282 -164219 -164219 88474063 49130404 164219 164219 48966185 4142062 4142062 53108247 Part IV, Line 2b - Explanation of Escrow Account Liability The Foundation is named as the trustee and remainder beneficiary of several charitable remainder trusts. In addition, the Foundation has entered into contracts with the donors for charitable gift annuities for which the Foundation has accepted contributions. The present value of the liability for the future payments is reflected on the Foundation's balance sheet. The Foundation has a contractual arrangement to act as the University's agent in managing the University's endowment assets, ensuring consistent management of endowment assets that support the University regardless of entity ownership. Part V, Line 4 - Intended Uses of Endowment Fund The Foundation's endowment funds provide grants to the University of Connecticut. The grants may be used to provide scholarships to University of Connecticut students, compensation and research support for University of Connecticut academic and athletic programs. The use of all endowment funds is subject to any restriction placed on funds by donors. All disbursements are subject to the Foundation's policy on disbursements, including the amount of the expenditure must be reasonable, for a legitimate business purpose, and with no private benefit. PART XI, LINE 2D Other Revenue Included in F/S But Not Included on Form 990 Bad Debt Expense - ($497,955) Investment Fees - ($4,142,062) TOTAL - ($4,640,017) Part XI, Line 4b Other Revenue Included on Form 990 But Not Included in F/S Fundraising Events Moved to Revenue - ($164,219) Part XII, Line 2D Other Expense Included in F/S But Not Included on Form 990 Fundraising Events Moved to Revenue - $164,219 Part XII, Line 4b Other Expense Included on Form 990 But Not Included in F/S Investment Fees - $4,142,062 East Asia and the Pacific Fundraising 156980 North America Fundraising 67420 Central America and the Caribbean Investments 56560228 Europe (Including Iceland and Greenland) Investments 1470698 58255326 58255326 true false true true true false Part I, Line 3f - Method of Accounting Foreign expenditures are separately identified on the organization's books and records. X X X X X X true Ruffalo Noel Levitz 1025 Kirkwood Parkway SW Cedar Rapids IA 52404 Phone Solicit. false 625705 308234 362605 Gold Orluk Partners LLC 172 West Main St Avon CT 06001 Event Planner false 189695 42184 147511 815400 350418 510116 AL AK AZ AR CA CO CT DE DC FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY Calhoun Celebri 173845 117765 56080 14739 55739 225 6566 Geno Auriemma L 97365 66115 31250 54680 10427 4 64080 36798 27282 1270 19823 750 335290 220678 114612 16009 110419 20048 750 16993 164219 -49607 Schedule G - Additional Information As required, the Foundation is reporting all events that had income or expenses during the fiscal year.It is possible that some events may have taken place in the prior fiscal year, or will be held in future year.As a result, revenue or expense amounts reported for the event may not be final, or portions may have been reported in the prior year. true University of Connecticut 352 Mansfield Road Unite 2048 Unit 2048 Storrs CT 06269 060772160 state of CT 25842677 University Support 1 0 Part I, Line 2 - Procedures for Monitoring Use of Grant Funds in U.S, Fund Administration staff receives appropriate documentation prior to making disbursements to ensure compliance with grant restrictions, and to ensure such disbursements are reasonable. X true true X X X false false false false false false false true true true GERALD GANZ Sr VP of Finance & Admin & CFO 250235 0 20000 0 0 0 22188 0 26852 0 319275 0 0 0 JACOB LEMON Sr. VP for Development 268432 0 15000 0 0 0 22885 0 25402 0 331719 0 0 0 SCOTT ROBERTS President and CEO 237625 0 50000 0 6924 0 22615 0 6187 0 323351 0 0 0 JOHN FODOR Former President and CEO 142937 0 0 0 0 0 11097 0 2435 0 156469 0 0 0 SHAHID FAROOQI Director of Investments 153770 0 2500 0 0 0 12772 0 23574 0 192616 0 0 0 JEFFERY ROBIN AVP for Regional Development 147917 0 5508 0 0 0 11609 0 15802 0 180836 0 0 0 MICHAEL OBLINGER Sr Assoc Athletic Dir of Dev 153114 0 6090 0 0 0 12953 0 24153 0 196310 0 0 0 FRANK GIFFORD AVP for Develop.,Cons. Program 178964 0 0 0 0 0 15110 0 24020 0 218094 0 0 0 SUZANNE O'CONOR General Counsel 217047 0 30000 0 0 0 19964 0 4262 0 271273 0 0 0 Brian Otis VP of Principal Gifts 210020 0 35000 0 0 0 20265 0 25332 0 290617 0 0 0 MO COTTON KELLY VP ALUMNI RELATIONS & COMM. 225797 0 0 0 0 0 16083 0 24169 0 266049 0 0 0 Part I, Line 1 The Foundation's current President received a temporary housing allowance in 2019. The payments were treated as taxable income. Part I, Line 7 - Non-Fixed Payments Not Listed THE FOUNDATION MAY GIVE PERFORMANCE BASED AWARDS BASED ON FORMAL REVIEW AND WITH APPROVAL OF FOUNDATION MANAGEMENT AND BOARD. PART 1, LINE 8 THE CURRENT PRESIDENT IS SERVING UNDER HIS INITIAL CONTRACT. PART VII, LINE 5 The Vice President, Alumni Relations and Communications was compensated for services rendered to the Foundation by the University of Connecticut, which is an unrelated organization. A CHEFA 060806186 000000000 2013-04-24 20000000 CONSTRUCTION PROJECT false false false A 12500000 0 20000000 0 0 0 270526 0 0 19729474 0 0 false false true true A false false false false 0.00000 0.00000 0.00000 false false false true A false true false false 0 false 0 false true A true X 106837 Sales Price X 215 3106028 Market Value X Events 0 4713 Sales Price X Services 0 18550 Sales Price 0 false true false Schedule M - Additional Information Part I Column (b) is based on the number of contributions Form 990, Part I, Line 1 and Part III, Line 1 ORGANIZATION MISSION OR SIGNIFICANT ACTIVITIES To operate exclusively for charitable and educational purposes, all for the public welfare, and to this end to promote, encourage and assist all forms of education, healthcare and research at the University of Connecticut, including without limitation, the University of Connecticut Health Center; to solicit donations of, accept and receive properties, moneys or securities by virtue of gift, grant, bequest, devise or otherwise, and to hold, control, administer, invest, reinvest, accumulate, and generally care for any and all funds and property, real and personal, which from time to time may be given, granted, bequeathed, devised or otherwise conveyed or made available to the Corporation either unconditionally, upon condition or in trust for specified purposes within the limitations of this certificate of incorporation; and to disburse such funds and property, or the income therefrom, in aiding, supplementing, improving and enlarging the educational, cultural, recreational, healthcare and research facilities and activities of the University of Connecticut, including without limitation, the University of Connecticut Health Center. Form 990, Part III, Line 4d OTHER PROGRAM SERVICES DESCRIPTION Equipment, Furniture, and Building Improvements The University of Connecticut Foundation, Inc. receives gifts on behalf of donors restricted to the support of equipment and furniture purchases and building improvements. Generally, the expenditure is made to the vendor directly by the University, with the Foundation then providing a grant to the University to fund the expenditure after receiving appropriate documentation. Occasionally the Foundation will pay the vendor directly. Form 990, Part VI, Line 1a EXPLANATION OF DELEGATED BROAD AUTHORITY TO COMMITTEE The Foundation Board has given the Executive Committee that consists of the Chair, the Chair of the Nominating and Board Governance Committee, the President of the Corporation, the President of the University, and three or more at-large Board members, full power and authority as the Board. The Executive Committee may meet and exercise all such powers and authority in the interim between the meetings of the Board. The Executive committee may not fill Board vacancies, amend certificate of incorporation, adopt, amend, or repeal bylaws, approve a plan of merger, approve a sale, lease, exchange, or other disposition of all, or substantially all, of the property of a corporation, or approve a proposal to dissolve the Corporation. Form 990, Part VI, Line 11b FORM 990 REVIEW PROCESS The Form is prepared by the Foundation and reviewed by management and the Foundation's Audit Committee. The Form is provided to the entire Board before it is filed. Form 990, Part VI, Line 12c EXPLANATION OF MONITORING AND ENFORCEMENT OF CONFLICTS Annually, the Foundation's Board members, officers, and employees are sent a copy of the Foundation's Conflict of Interest questionnaire that they are required to complete and return to the Foundation. The responses are then reviewed by the Foundation's in-house legal counsel, with any potential conflicts reviewed with the Nominating and Governance Committee of the Board and the full Board as appropriate. Form 990, Part VI, Line 15a Process COMPENSATION REVIEW & APPROVAL PROCESS - CEO & TOP MANAGEMENT The Foundation's salary structure is market-driven and undergoes a rigorous, periodic review under which compensation levels are compared to organizations of similar size and mission. The salaries and benefits of the UCONN Foundation's officers and key employees are subject to approval in advance of payment by a majority of disinterested directors on the Executive Committee of the Board of Directors. The officers and key employees are not in a position of control with respect to the Committee. The Committee relies on appropriate comparability data in determining the reasonableness of the compensation packages. Minutes adequately documenting the basis for the Executive Committee's decisions are maintained. The approval of compensation packages occurs in May or June for compensation to be paid in the subsequent fiscal year, or as necessary. Form 990, Part VI, Line 15b Process COMPENSATION REVIEW & APPROVAL PROCESS - OFFICERS AND KEY EMPLOYEES See 15a Form 990, Part VI, Line 19 OTHER ORGANIZATION DOCUMENTS PUBLICLY AVAILABLE The Foundation's financial statements and conflict of interest policy are posted on the Foundation's website. The Foundation's Articles of Incorporation, IRS Determination Letter, and Bylaws are available upon request. Form 990, Part XI, Line 9 OTHER CHANGES IN NET ASSETS OR FUND BALANCES Bad Debt Expense (pledge write-offs) : ($497,955) Charitable Remainder Trust (4) Development CT NA false HORSEBARN HILL INVESTMENT FUND LTD PO Box 309 Ugland House GRAND CAYMAN CJ KY1-1104 INVESTMENT CJ UCONN FDN C CORP 1060228 58560228 1.00000 true false true false false false false false false false false false false false false false false false false false HORSEBARN HILL INVESTMENT FUND LTD B 57500000 FMV Schedule R - Related Organizations While the mission of the Foundation is to support the University, under IRS instructions, the University does not meet the definition of a "related organization". The Foundation has nine ex-officio board members, six of whom serve by virtue of their position as a University employee. None of the six University employees are counted in determining quorum and none are entitled to vote on matters before the Board. No compensation is paid by the Foundation for their service as directors.