2025-08-13T11:29:50-05:00 2024-09-30 454084437 WARREN AVERETT LLC 2500 ACTON ROAD BIRMINGHAM AL 35243 990 2023-10-01 636067755 TROY UNIVERSITY FOUNDATION TROY 3346703000 ADAMS ADMINISTRATION BLDG 241 TROY STATE UNIVERSITY AL 36082 DR JAMES BOOKOUT TREASURER 3346703000 2025-08-08 1 1 MEGAN RANDOLPH P00989558 2059794100 2025-08-08 2023 2025-03-06 01:10:19Z DR JAMES BOOKOUT 241 ADAMS ADMINISTRATION TROY AL 36082 20626910 0 X WWW.TROY.EDU/DEVELOPMENT/FOUNDATION X 1968 AL SUPPORT OF TROY UNIVERSITY STUDENTS, FACULTY, STAFF AND ALUMNI 21 21 0 21 103536 97528 7446437 8552549 0 1924571 3384486 3345733 5209643 1296533 16040566 15119386 6238877 5661267 0 0 0 0 0 0 179884 3737676 3781729 9976553 9442996 6064013 5676390 237046289 223937479 121832174 90810371 115214115 133127108 TO ASSIST TROY UNIVERSITY IN BUILDING ITS ENDOWMENT THROUGH A COORDINATED DONOR PROGRAM AND SOUND INVESTMENT POLICY THEREBY ENSURING RELIABLE RESOURCES FOR THE FUTURE. 0 0 8249068 5661267 2149775 SUPPORT OF TROY UNIVERSITY SYSTEM ACADEMICS, LIBRARY, FACULTY, STAFF, ALUMNI AND STUDENT PROGRAMS FOR APPROXIMATELY 15,000 STUDENTS AND 170,000 ALUMNI. 8249068 1 1 0 0 0 0 0 1 1 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 1 0 0 0 1 56 0 1 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 21 21 1 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 1 0 0 0 X X DR JAMES BOOKOUT 3346703108 ADAMS ADMINISTRATION BUILDING TROY AL 36082 X DR JACK HAWKINS PRESIDENT 1.00 0.00 X X 0 0 0 WILLIAM FILMORE EXECUTIVE VICE PRESIDENT 1.00 0.00 X X 0 0 0 GREG KNEDLER VICE PRESIDENT 1.00 0.00 X X 0 0 0 JEFFREY COLEMAN CHAIR 1.00 0.00 X X 0 0 0 LARRY HUGHES VICE CHAIR 1.00 0.00 X X 0 0 0 DR JAMES BOOKOUT JR TREASURER 1.00 0.00 X X 0 0 0 ROSEMARY ELEBASH ALUMNI BOARD PRESIDENT 1.00 0.00 X X 0 0 0 KAREN CARTER BOARD MEMBER 1.00 0.00 X 0 0 0 ROY DRINKARD BOARD MEMBER 1.00 0.00 X 0 0 0 JOHN R FERGUSON BOARD MEMBER 1.00 0.00 X 0 0 0 RANDALL MOORE BOARD MEMBER 1.00 0.00 X 0 0 0 HORACE HORN BOARD MEMBER 1.00 0.00 X 0 0 0 DR EARL JOHNSON BOARD MEMBER 1.00 0.00 X 0 0 0 DR MANLY JOHNSON BOARD MEMBER 1.00 0.00 X 0 0 0 BILLY JONES BOARD MEMBER 1.00 0.00 X 0 0 0 JEFFREY KERVIN BOARD MEMBER 1.00 0.00 X 0 0 0 DAVID MALLACH BOARD MEMBER 1.00 0.00 X 0 0 0 HARREL MCKINNEY BOARD MEMBER 1.00 0.00 X 0 0 0 DOUG MIMS BOARD MEMBER 1.00 0.00 X 0 0 0 CLAUDENE NICHOLS BOARD MEMBER 1.00 0.00 X 0 0 0 LEWIS RUSHING BOARD MEMBER 1.00 0.00 X 0 0 0 0 0 0 0 0 0 0 PLAYFLY HOLDINGS LLC 22 CASSATT AVE BERWYN PA 19312 SPORTS MANAGEMENT 845665 FORTY NINE DEGREES LLC 249 FORTENER DRIVE COLDWATER OH 45828 GRAPHIC SERVICES 434768 SODEXO MANAGEMENT INC 9801 WASHINGTONIAN BOULEVARD GAITHERSBURG MD 20878 CATERING 418830 WHALEY CONSTRUCTION PO BOX 768 TROY AL 36081 CONTRACTOR 191746 NICHECOM 2840 LIBERTY AVENUE SUITE 202 PITTSBURGH PA 15222 CONSULTING 151099 5 132302 429435 7990812 92396 8552549 QUALIFIED SPONSORSHIP REVENUE 900099 1701832 1701832 INTERNATIONAL STUDY ABROAD 900099 157041 157041 OTHER ATHLETIC REVENUE 900099 34416 34416 REGISTRATION FEES 611710 31282 31282 1924571 2752622 2752622 159924 159924 1025000 172838 852162 852162 103536 748626 5713280 61260 5133472 47957 579808 13303 593111 593111 212500 132302 153257 59243 59243 OTHER REVENUE 900099 146704 146704 SPECIAL ASSISTANCE REVENUE 900099 78500 78500 225204 15119386 2149775 103536 4313526 X 4583680 4583680 1077587 1077587 64475 64475 1150389 972356 178033 23008 17106 5902 51630 18078 5854 27698 30790 21093 9697 8952 8753 199 327377 113406 171023 42948 48613 48613 320127 320127 25386 17778 7608 NONCAPITALIZED EQUIPMEN 491648 446365 45283 PROGRAM EVENTS 272591 265290 7301 RECOGNITION, AWARDS & G 191818 138409 34638 18771 UNRELATED BUSINESS TAXE 26761 26761 748164 569167 88530 90467 9442996 8249068 1014044 179884 212030 218339 28317502 30862817 1715210 3589600 226533 318759 6488400 6462271 0 47643 27032466 4805953 22597834 22226513 174872571 159022421 2616209 1189116 237046289 223937479 1756163 1695844 2257352 801579 115086565 85818899 2632265 2383547 99829 110502 121832174 90810371 X 38648341 42337735 76565774 90789373 115214115 133127108 237046289 223937479 X 5676390 12240401 -3798 X X 0 1 X 1 0 X 5583395 9519124 7590351 7446437 8552549 38691856 5583395 9519124 7590351 7446437 8552549 38691856 1391806 37300050 1950590 699383 747648 2312257 3774787 9484665 264418 304420 294039 301160 162779 1326816 4066321 2820575 3843048 4878483 225204 15833631 65336968 1924571 0.57090 0.74750 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2019 AMOUNT: $ 3,980,685. 2020 AMOUNT: $ 2,820,575. 2021 AMOUNT: $ 3,843,048. 2022 AMOUNT: $ 4,878,483. 2023 AMOUNT: $ 146,704. VENDING COMMISSIONS - 2019 AMOUNT: $ 85,636. SPECIAL ASSISTANCE REVENUE - 2023 AMOUNT: $ 78,500. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8801478 X X 0 0 1 X 61060194 1126042 13012831 1590136 73608931 55852674 955163 5975867 1723510 61060194 67935681 708884 -11345509 1446382 55852674 56336770 2091516 10299581 792186 67935681 48505397 1053366 7807677 525840 470646 33184 56336770 0.05990 0.94009 0.00000 0 0 101198 1022128 1123326 11761392 126811 11634581 4984899 4454908 529991 361371 224234 137137 8801478 8801478 22226513 GIFT ANNUITY LIABILITY 110502 110502 X 27719568 12240401 37484 326095 12603980 15115588 3798 3798 15119386 9806575 37484 326095 363579 9442996 0 9442996 PART III, LINE 4: THE FOUNDATION HAS COLLECTIONS OF ARTWORK THAT ARE USED TO SUPPORT TROY UNIVERSITY STUDENTS, FACULTY, STAFF AND ALUMNI BY CREATING EDUCATIONAL OPPORTUNITIES AND TO HEIGHTEN UNDERSTANDING AND APPRECIATION OF THE VISUAL WORLD. TROY UNIVERSITY HAS CREATED AN ART MUSEUM WHERE THESE WORKS OF ART WILL BE DISPLAYED. PART IV, LINE 2B: TROY UNIVERSITY ALABAMA CODE SECTION 16-13-2 AUTHORIZES STATE INSTITUTIONS TO INVEST ENDOWMENT FUNDS AND FUNDS HELD FOR INVESTMENT. THE FUNDS HELD FOR INVESTMENT POLICY ALLOWS THE UNIVERSITY'S NONOPERATIONAL FUNDS TO BE INVESTED TO EARN A MAXIMUM TOTAL RETURN THAT PRESERVES THE PURCHASING POWER OF NONOPERATIONAL FUNDS HELD FOR INVESTMENT WHILE GENERATING AN INCOME STREAM TO SUPPORT THE NEEDS OF THE UNIVERSITY; AND TO MORE CLOSELY CORRELATE THE INVESTMENT STRATEGY THEREIN WITH THE INVESTMENT POLICY OF THE FOUNDATION WITHIN THE CONSTRAINTS OF WHAT IS ALLOWED BY THE CODE OF ALABAMA. THE FUNDS HELD FOR INVESTMENT'S REAL TOTAL RETURN WILL BE SOUGHT FROM AN INVESTMENT STRATEGY THAT PROVIDES AN OPPORTUNITY FOR SUPERIOR TOTAL RETURNS WITHIN ACCEPTABLE LEVELS OF RISK AND VOLATILITY. SUCH INVESTMENT STRATEGY INCLUDES TRANSFERRING A PORTION OF THE FUNDS HELD FOR INVESTMENT TO THE FOUNDATION TO BE INVESTED IN ACCORDANCE WITH ITS INVESTMENT POLICY AS DIRECTED BY ITS STEWARDSHIP COMMITTEE AND APPROVED BY ITS BOARD OF DIRECTORS. AS OF SEPTEMBER 30, 2024, THE UNIVERSITY HAS TRANSFERRED A TOTAL OF $70,000,000 TO THE FOUNDATION FOR INVESTMENT. THE UNIVERSITY'S INVESTMENTS ARE NOT CO-MINGLED WITH THE FOUNDATION'S INVESTMENT POOL. BELOW IS A SUMMARIZATION OF THE UNIVERSITY'S INVESTMENTS HELD BY THE FOUNDATION: BALANCE AT BEGINNING OF YEAR $ 114,178,857 INVESTMENT INCOME 17,696,469 TRANSFER TO UNIVERSITY (47,151,919) BALANCE AT END OF YEAR $ 84,723,407 CENTER SERVICES, INC. (CSI) INVESTED $626,700 IN THE FOUNDATION'S POOLED ENDOWMENT. THE CSI FUND RECEIVES AN ALLOCATION OF THE EARNINGS AND LOSSES ON THE POOLED INVESTMENTS ON A QUARTERLY BASIS. THE ACTIVITY OF THIS ENDOWMENT AND ITS BALANCE AS OF SEPTEMBER 30, 2024, IS SUMMARIZED IN THE FOLLOWING SCHEDULE: BALANCE AT BEGINNING OF YEAR $ 708,010 INVESTMENT INCOME 169,298 BALANCE AT END OF YEAR $ 877,308 PART V, LINE 4: THE FOUNDATION ESTABLISHES ENDOWED FUNDS TO SUPPORT DONOR(S) PURPOSES IN PERPETUITY. GIFTS OF CASH OR CASH GENERATED FROM CONVERSION OF A NON-CASH ASSET ARE INVESTED IN THE TROY FOUNDATION ENDOWED INVESTMENT POOL. IT IS THE GOAL OF THE FOUNDATION ENDOWMENT INVESTMENT POLICY TO PROVIDE A REAL TOTAL RETURN FROM ASSETS INVESTED THAT WILL PRESERVE AND INCREASE THE PURCHASING POWER OF THE ENDOWMENT CAPITAL, WHILE GENERATING THE MAXIMUM YIELD TO SUPPORT THE ACTIVITIES OF THE FUNDS HELD FOR THE COLLEGES, SCHOOLS, DEPARTMENTS, UNITS AND PROGRAMS OF THE UNIVERSITY. PART X, LINE 2: THE FOUNDATION IS RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. CERTAIN TYPES OF INCOME MAY BE SUBJECT TO TAX FROM UNRELATED BUSINESS INCOME AS DEFINED BY THE TAX CODE. AT TIMES, THE FOUNDATION RECEIVES ROYALTY AND OTHER INCOME THAT MAY BE TAXABLE. DURING FISCAL YEARS 2024 AND 2023, THE FOUNDATION PAID APPROXIMATELY $25,505 AND $24,255 IN UNRELATED BUSINESS INCOME TAX FOR TAXABLE INCOME GENERATED IN FISCAL YEARS 2024 AND 2023, RESPECTIVELY. THE FOUNDATION FOLLOWS THE ACCOUNTING GUIDANCE FOR UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF FASB ACCOUNTING STANDARDS CODIFICATION (ASC) 740, INCOME TAXES. AS OF SEPTEMBER 30, 2024 AND 2023, THE FOUNDATION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AND NO INTEREST AND PENALTIES RELATED TO INCOME TAXES. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 153,257. RENTAL EXPENSES 172,838. PART XI, LINE 4B - OTHER ADJUSTMENTS: DISTRIBUTIONS FROM PERPETUAL TRUST 76,117. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -72,319. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 153,257. RENTAL EXPENSES 172,838. FOOTBALL KICKOFF PARTY 70018 4518 65500 8000 36635 200 HIGH SCHOOL SEUS 59300 59300 7036 4553 1265 9 215484 127784 87700 1000 11046 39306 30417 11700 2099 344802 132302 212500 9000 18082 39306 71605 11700 3564 153257 59243 1 TROY UNIVERSITY TROY MAIN CAMPUS TROY AL 36082 636001102 115 4508560 0 NA NA EMINENT SCHOLAR PROFESSORSHIPS AND OTHER EXPENSES 1 0 STUDENT SCHOLARSHIPS 257 1077587 0 NA NA PART I, LINE 2: THE FOUNDATION PRESIDENT, FOUNDATION VICE PRESIDENT, AND FOUNDATION TREASURER ARE RESPONSIBLE FOR DISBURSEMENTS OF FUNDS. FINAL EXPENDITURE OF FOUNDATION FUNDS REQUIRES THE APPROVAL OF THE FUND ADMINISTRATOR, FOUNDATION ACCOUNTING COORDINATOR, AND DIRECTOR OF NOT-FOR-PROFIT ACCOUNTING FOR DISBURSEMENTS OF $500 OR LESS. FOR DISBURSEMENTS OVER $500, THE APPROVAL OF THE FUND ADMINISTRATOR, DIRECTOR OF NOT-FOR-PROFIT ACCOUNTING, FOUNDATION PRESIDENT, AND FOUNDATION TREASURER IS REQUIRED. X 1 1 APPRAISAL X 1 89850 APPRAISAL X EQUIPMENT 4 2246 APPRAISAL X CLOTHING 1 300 APPRAISAL 0 0 1 0 SCHEDULE M, PART I, COLUMN (B): COLUMN B REPRESENTS THE TOTAL NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 2 DR. JAMES BOOKOUT, DR. JACK HAWKINS, DR. JAMES ANDREWS, AND BRIG. GEN. RICHARD BOUTWELL - BUSINESS RELATIONSHIP FORM 990, PART VI, SECTION B, LINE 11B THE TREASURER, VICE PRESIDENT, AND SECRETARY OF THE FOUNDATION REVIEWED THE FORM 990 PRIOR TO ITS FILING WITH THE IRS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON WRITTEN REQUEST TO THE FOUNDATION OFFICE. FORM 990, PART IX, LINE 11G CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 972,356. MANAGEMENT AND GENERAL EXPENSES 178,033. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,150,389. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 72,319. BENEFICIAL INTEREST IN TRUSTS -76,117. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR. SORRELL SOLUTIONS LLC 241 ADAMS ADMINISTRATION BUILDING TROY AL 36079 474977833 ADMINISTRATIVE SERVICES AL 1618 59137 TROY UNIVERSITY FOUNDATION