2019-05-10T15:10:30-05:00 2018-06-30 KPMG LLP 60 South Street Boston MA 02111 990 2017-07-01 451556038 UNIVERSITY OF VERMONT AND STATE AGRICULTURAL COLLEGE FOUNDATION INC % CHARLES FEENEY UNIV 8026568600 411 MAIN STREET BURLINGTON VT 05401 CHARLES FEENEY VP & CFO 8026568600 2019-05-09 true JACOB K JOHNSON P01763226 6179881000 2019-05-09 167.68.102.5 04502320191305000006 2019-05-10 P DE08A9DC374F6D863E4C65F4581CA65D41729E41 072F242B0F8FA55BC44C4BBFD6D81B3F0B7E1C92 2017 2019-02-21 02:37:17Z SHANE JACOBSON PRESCEO 411 MAIN STREET BURLINGTON VT 05401 109558992 false X WWW.UVMFOUNDATION.ORG X 2011 VT THE MISSION OF THE UVM FOUNDATION IS TO SECURE AND MANAGE PRIVATE SUPPORT FOR THE BENEFIT OF THE UNIVERSITY OF VERMONT. 26 25 168 6146 126854 -324288 45087438 46392752 9777863 9880872 1172712 1772532 37575 7541 56075588 58053697 12500348 22587429 0 0 8176760 8277278 158732 20228 7088263 3062578 2889002 23898418 33773937 32177170 24279760 159575509 189581254 14521529 16120489 145053980 173460765 THE MISSION OF THE UVM FOUNDATION IS TO SECURE AND MANAGE PRIVATE SUPPORT FOR THE BENEFIT OF THE UNIVERSITY OF VERMONT. false false 22587429 22587429 9392210 THE FOUNDATION'S PRIMARY FUNCTION IS TO RAISE, RECEIVE, AND MANAGE FUNDS FOR SCHOLARSHIPS, PROFESSORSHIPS, AND FACILITIES AND OTHER SUPPORT FOR THE BENEFIT OF THE UNIVERSITY OF VERMONT AND STATE AGRICULTURAL COLLEGE AND BY OTHERWISE PERFORMING SUPPORT FUNCTIONS THAT CARRY OUT ITS CHARITABLE, SCIENTIFIC, EDUCATIONAL, OR OTHER EXEMPT PURPOSES. 2275378 488662 ALUMNI ARE OFFRED OPPORTUNITIES TO ATTEND SOCIAL AND EDUCATIONAL EVENTS FOR AN ADMISSION FEE THAT COVERS, AT THE MOST, DIRECT EXPENSES, BUT NEVER COVERS ALL EXPENSES. EVENTS INCLUDE ALUMNI REUNIONS, HOMECOMINGS, BASEBALL GAMES, TENNIS MATCHES, DANCES, ETC. 24862807 true true false false false false false false false true true true false false true true true false false false false false false true false false false true false true false false false false false false false false true true false false true true true true false true 32 0 true 168 true true true false false false false true true false false false false X 26 25 false false true false false false false true true false false true true true true true true true true false AK CA CO KY ME MD MA MI MN MO NV NH NJ NY ND OH OK OR SC UT WA WI X X CHARLES FEENEY 8026568600 411 MAIN STREET BURLINGTON VT 05401 RICHARD ADER E 63018 DIRECTOR 1.0 0.0 X 0 0 0 KATHY BATTISTONI DIRECTOR 1.0 0.0 X 0 0 0 JAMES BETTS DIRECTOR 1.0 0.0 X 0 0 0 ROBERT P BRENNAN JR DIRECTOR 1.0 0.0 X 0 0 0 WILLIAM CIMONETTI BEG 7117 DIRECTOR 1.0 0.0 X 0 0 0 MICHELE RESNICK COHEN e 63018 DIRECTOR 1.0 0.0 X 0 0 0 STEVEN GROSSMAN e 63018 DIRECTOR 1.0 0.0 X 0 0 0 ZACHARY GUND e 63018 DIRECTOR 1.0 0.0 X 0 0 0 MEG GUZEWICZ DIRECTOR 1.0 0.0 X 0 0 0 DAVID HAAS DIRECTOR 1.0 0.0 X 0 0 0 JOHN A HILTON JR DIRECTOR/FND CHAIR EMERITUS 1.0 0.0 X 0 0 0 BARBARA FIDDLER BEG 7117 DIRECTOR 1.0 0.0 X 0 0 0 EUGENE W KALKIN DIRECTOR 1.0 0.0 X 0 0 0 JAMES R KELLER DIRECTOR/CHAIRMAN 3.0 0.0 X 0 0 0 DONALD H MCCREE III DIRECTOR/TREASURER 2.0 0.0 X 0 0 0 DIANE L SEDER DIRECTOR/VICE CHAIR 2.0 0.0 X 0 0 0 SCOTT S SEGAL DIRECTOR/SECRETARY 2.0 0.0 X 0 0 0 E THOMAS SULLIVAN DIRECT/EX OFFICIO/PRES UVM 2.0 0.0 X 0 0 0 DAVID GODKIN BEG 7117 DIRECTOR 1.0 0.0 X 0 0 0 BRIAN BOARDMAN DIRECTOR/EX OFFICIO 1.0 0.0 X 0 0 0 DAVID DAIGLE DIRECTOR/EX OFFICIO 1.0 0.0 X 0 0 0 PENROSE JACKSON DIRECTOR/EX OFFICIO 1.0 0.0 X 0 0 0 SHANE JACOBSON DIRECTOR/EX OFFICIO/FOUND PRES 43.0 0.0 X X 247561 0 31573 DAVID REINES DIRECTOR 1.0 0.0 X 0 0 0 CLAUDIA SERWER DIRECTOR 1.0 0.0 X 0 0 0 DEBORAH MCANENY BEG 7117 DIRECTOR 1.0 0.0 X 0 0 0 MARK METIVIER VP INTERIM CFO 40.0 0.0 X 148769 0 26222 Charles Feeney VP & CFO (Beg 3/5/18) 40.0 0.0 X 0 0 0 KATHLEEN KELLEHER VP FOR PRINCIPAL GIFTS 40.0 0.0 X 219733 0 32644 ALAN RYEA VP FOR ALUMNI RELATIONS 40.0 0.0 X 187608 0 40579 MARK DORGAN VP FOR DEVELOPMENT 40.0 0.0 X 244109 0 45435 KATHY DESJARDINS AVP FOR ADVANCEMENT SERVICES 40.0 0.0 X 127318 0 19585 AMY PALMER-ELLIS ASST VP GIFT PLANNING 40.0 0.0 X 120740 0 35048 SAMUEL ANKERSON DIR OF MAJOR GIFTS CAS 40.0 0.0 X 112985 0 11844 ANNE TRASK FORCIER ED OF BOARD RELATIONS 40.0 0.0 X 100407 0 15189 1509230 0 258119 9 false true false THE UNIVERSITY OF VERMONT MEDICAL C PO BOX 1902 BURLINGTON VT 05402 LEASED EMPLOYEE 186457 1 46392752 5777857 46392752 SERVICE AGREEMENT - UNIVERSITY SUPPORT 900099 9392210 9392210 ALUMNI ACTIVITIES 900099 488662 369354 119308 9880872 1796367 5 1796362 0 7541 7541 0 0 0 51481460 51505295 -23835 -23835 -23835 0 0 0 0 0 0 0 0 0 0 58053697 9761564 126854 1772527 22587429 22587429 0 0 0 1439973 217718 394978 827277 0 4798247 747041 633847 3417359 428490 62014 59892 306584 1165291 209990 146212 809089 445277 71755 70614 302908 0 24123 18975 5148 122775 122775 0 20228 20228 11612 11612 6002 6002 77281 35621 8726 32934 914219 217979 92853 603387 266287 56440 56892 152955 0 89183 58861 5351 24971 381929 40238 33385 308306 0 564575 336398 50153 178024 0 0 341008 219446 22701 98861 87899 87899 MISCELLANEOUS EXPENSES 2109 1877 232 33773937 24862807 1822867 7088263 254877 313371 27030028 32941992 15525314 24390024 539272 3218311 0 0 0 0 0 0 0 0 320507 360586 30224214 672354 27350197 29551860 627838 734416 87927476 98070694 0 0 0 0 0 0 159575509 189581254 8760037 10613324 0 0 89464 78660 0 0 0 0 0 0 2958333 2687500 0 0 2713695 2741005 14521529 16120489 X 9758728 10980424 57136447 66491143 78158805 95989198 145053980 173460765 159575509 189581254 X 24279760 6076891 -1949866 X false true X true false X 12044893 32032730 56340994 44891025 46392752 191702394 0 0 12044893 32032730 56340994 44891025 46392752 191702394 32988796 158713598 119815 174345 770341 1335517 1796362 4196380 0 -2570 3172 -1274 0 0 -672 195898102 44132856 0.81018 0.84500 X SCHEDULE A, PART II THE INFORMATION FOR THE FOUNDATION'S SHORT - YEAR BEGINNING 1/1/2014 AND ENDING 6/3/2014 IS REPORTED IN COLUMN (A). THE INFORMATION FOR THE FOUNDATION'S FISCAL YEAR (7/1/2014 - 6/30/2015) IS REPORTED IN COLUMN (B) AND THE INFORMATION FOR THE FOUNDATION'S FISCAL YEAR (7/1/2015 - 6/30/2016) IS REPORTED IN COLUMN (C). THE INFORMATION FOR THE FOUNDATION'S FISCAL YEAR (7/1/2016 - 6/30/2017) IS REPORTED IN COLUMN (D) THE INFORMATION FOR THE FOUNDATION'S FISCAL YEAR (7/1/2017 - 6/30/2018) IS REPORTED IN COLUMN (E). 88789512 12161632 7202999 709495 3178281 350553 103915814 68728077 17214082 6453578 585917 2603739 416569 88789512 33500789 37260950 158808 494654 1277805 420011 68728077 29700427 4770342 484293 350655 948353 155265 33500789 23688783 5277795 1410764 92054 350162 234699 29700427 0.03632 0.83850 0.12519 true true true 20700000 20700000 9187992 525706 8662286 0 282102 92528 189574 54120 54120 29551860 INVESTMENTS 80970800 F DERIVATIVES 9773 F BENEFICIAL INT HELD BY OTHERS 1260938 F CERTIFICATE OF DEPOSIT 7062581 F PARTNERSHIPS 8766602 F 98070694 0 LONG TERM DEBT W/ RELATED PARTY 2700000 OTHER LIABILITIES 41005 2741005 X 62148888 6076891 -1647540 4429351 57719537 334160 334160 58053697 33742103 33742103 31834 31834 33773937 PART V, LINE 4 THE FOUNDATION'S ENDOWMENT IS A CONSOLIDATED POOL OF DONOR-CREATED ENDOWMENTS, DESIGNATED TO BENEFIT THE UNIVERSITY OF VERMONT. SCHEDULE D, PART X, LINE 2 UVM FOUNDATION GENERALLY DOES NOT PROVIDE FOR INCOME TAXES BECAUSE IT IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)3 OF THE INTERNAL REVENUE CODE. ASC 740, INCOME TAXES, PERMITS AN ENTITY TO RECOGNIZE THE BENEFIT AND REQUIRES ACCRUAL OF AN UNCERTAIN TAX POSITION ONLY WHEN THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED IN THE EVENT OF EXAMINATION BY TAX AUTHORITIES. IN EVALUATING WHETHER A TAX POSITION HAS MET THE RECOGNITION THRESHOLD, UVM FOUNDATION MUST PRESUME THAT THE POSITION WILL BE EXAMINED BY THE APPROPRIATE TAXING AUTHORITY THAT HAS FULL KNOWLEDGE OF ALL RELEVANT INFORMATION. ASC 740 ALSO PROVIDES GUIDANCE ON THE RECOGNITION, MEASUREMENT, AND CLASSIFICATION OF INCOME TAX UNCERTAINTIES, ALONG WITH ANY RELATED INTEREST OR PENALTIES. TAX POSITIONS DEEMED TO MEET THE MORE LIKELY THAN NOT THRESHOLD ARE RECORDED AS A TAX EXPENSE IN THE CURRENT YEAR. UVM FOUNDATION HAS ANALYZED ALL OPEN TAX YEARS, DEFINED BY THE STATUTES OF LIMITATIONS FOR ALL MAJOR JURISDICTIONS. OPEN TAX YEARS ARE THOSE THAT ARE OPEN FOR EXAM BY TAXING AUTHORITIES. MAJOR JURISDICTIONS FOR UVM FOUNDATION INCLUDE FEDERAL AND THE STATE OF VERMONT. AS OF JUNE 30, 2018, OPEN FEDERAL AND VERMONT TAX YEARS FOR UVM FOUNDATION INCLUDE TAX YEARS ENDED JUNE 30, 2015, 2016, AND 2017. UVM FOUNDATION HAS NO EXAMINATIONS IN PROGRESS. UVM FOUNDATION BELIEVES THAT IT HAS NO SIGNIFICANT UNCERTAIN TAX POSITIONS. PART XI, LINE 2D EQUITY TRANSFER TO UVM $ (1,619,355) EQUITY TRANSFER FROM UVM $ 3,650 INVESTMENT ACCOUNTING $ (18,700) INVESTMENT MANAGEMENT FEES $ (11,612) INVESTMENT INSURANCE $ (1,523) ---------------- TOTAL $ (1,647,540) PART XI, LINE 4B UNCOLLECTIBLE PLEDGES $ 334,160 PART XII, LINE 4A INVESTMENT ACCOUNTING $ 18,700 INVESTMENT MANAGEMENT FEES $ 11,612 INVESTMENT INSURANCE $ 1,523 ROUNDING $ (1) -------------- TOTAL $ 31,834 X X X X X true GRENZEBACH GLIER ASSOCIATES INC 401 NORTH MICHIGAN AVE SUITE 2800 CHICAGO IL 60611 CONSULTING false 12228 GIVECAMPUS INC 903 G STREET SE WASHINGTON DC 20003 ONLINE PRODUCT false 8000 20228 AK CA CO KY ME MD MA MI MN MO NV NH NJ NY ND OH OK OR SC UT WA WI PART I, LINE 2B, COLUMN (III) AND (V) GRENZEBACH & GLIER PROVIDES STRATEGIC FUNDRAISING CONSULTING SERVICES TO ASSIST OUR INTERNAL STAFF IN ITS FUNDRAISING PROPOSALS. GIVECAMPUS INC PROVIDES AN ONLINE PLATFORM FOR FUNDRAISING. true UNIVERSITY OF VT & STATE AGRI COLLEGE 85 SO PROSPECT STREET BURLINGTON VT 05401 030179440 501(C)(3) 20407300 FMV SEE PART IV SEE PART IV SEE PART IV SEE PART IV UNIVERSITY OF VT & STATE AGRI COLLEGE 85 SO PROSPECT STREET BURLINGTON VT 05401 030179440 501(C)(3) 1598767 FMV SEE PART IV SEE PART IV SEE PART IV HILLEL AT THE UNIVERSITY OF VT 80 COLCHESTER AVENUE UNIVERSITY OF VERMONT CAMPUS BURLINGTON VT 05405 810554021 501(C)(3) 581362 FMV SEE PART IV SEE PART IV SEE PART IV 2 PART I, LINE 2 THE FOUNDATION OPERATES ON A REIMBURSABLE BASIS AND REQUIRES A REPORT OF EXPENSES ON A QUARTERLY BASIS FOR REVIEW BY THE CONTROLLER FOR APPROPRIATENESS PRIOR TO DISTRIBUTION OF FUNDS. PART II, LINE 2G NONCASH ASSISTANCE INCLUDES CONTRIBUTIONS OF VARIOUS SMALL GIFTS OF APPLE WATCHES, ART, BOOKS, COLLECTIBLES, A HORSE, REAL ESTATE AND GIFT CARDS. PART II, LINE 1H PURPOSES OF THE GRANTS AND ASSISTANCE INCLUDE: UNIVERSITY EDUCATIONAL DEPARTMENT USE; SCHOLARSHIPS, FELLOWSHIPS, AND AWARDS; PROFESSORSHIPS, RESEARCH, AND FACULTY SUPPORT; CAPITAL CONSTRUCTION; AND, OTHER ACADEMIC AND STUDENT SUPPORT. PART II, LINE 3H THE PURPOSE OF THE GRANTS AND ASSISTANCE IS TO PROVIDE PROGRAMMING AND SERVICES TO ENRICH THE LIVES OF THE UNIVERSITY COMMUNITY AT LARGE INCLUDING BUT NOT LIMITED TO JEWISH UNDERGRADUATE AND GRADUATE STUDENTS. X X true true X X false false false false false false false true false KATHLEEN KELLEHER VP FOR PRINCIPAL GIFTS 217037 2696 24443 8201 252377 ALAN RYEA VP FOR ALUMNI RELATIONS 156642 100 30866 18660 21919 228187 MARK METIVIER VP INTERIM CFO 148769 17575 8647 174991 AMY PALMER-ELLIS ASST VP GIFT PLANNING 120740 13130 21918 155788 MARK DORGAN VP FOR DEVELOPMENT 239109 5000 24773 20662 289544 SHANE JACOBSON DIRECTOR/EX OFFICIO/FOUND PRES 242143 5418 21138 10435 279134 PART I, LINE 1A THE FOUNDATION HAS A POLICY THAT ALLOWS A SPOUSE OR PARTNER TO ACCOMPANY ON A FOUNDATION TRIP FOR BONAFIDE BUSINESS REASONS WITH PRIOR APPROVAL FROM A SUPERVISOR. ONE DIRECTOR HAD HIS SPOUSE ACCOMPANY HIM FOR BONAFIDE BUSINESS REASONS. THE FOUNDATIONS POLICY ALSO ALLOWS A SPOUSE OR PARTNER TO TRAVEL WITH THE FOUNDATION REPRESENTATIVE FOR PERSONAL REASONS AT THE EXPENSE OF THE SPOUSE OR PARTNER. THIS TYPE OF TRAVEL MUST HAVE PRIOR APPROVAL OF THE SUPERVISOR. ONE KEY EMPLOYEE HAD HER SPOUSE TRAVEL WITH HER AT THEIR OWN EXPENSE. The Foundation pays for one officers membership to a golf club for bonafide business reasons. The expense is a taxable benefit to the officer. PART I, LINE 3 THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS IS CHARGED WITH SERVING AS THE COMPENSATION COMMITTEE PER THE BY-LAWS OF THE FOUNDATION. THE COMPENSATION COMMITTEE HAS THE ULTIMATE DECISION OF ENTERING INTO AN EMPLOYMENT CONTRACT. PART I, LINE 7 The Foundation reported nonfixed payments for three employees in Part II, Column(B)(ii). These payments were bonuses given due to exceptional performance approved by the board and/or management. X 17 485720 FMV X 9830 FMV X 1 2099 FMV X 184 3780284 FMV X 1 370496 FMV X 2 334418 FMV X 3 261 FMV X APPLE WATCHES 1 717500 FMV X HORSE 3 44500 FMV X TRAVEL 22 27967 FMV X HOUSEHOLD 5 3882 FMV X SHRUBS 1 900 FMV 5 false true true PART I, LINE 32A THE UVM FOUNDATION USES SERVICES OF A REALTOR TO SELL PIECES OF DONATED REAL ESTATE. PART VI, SECTION A, QUESTION 4 The Bylaws were changed to clarify that if a chair is unable or unwilling to continue service on the Board then the Board will elect a former chair emeritus to take on the role until the next outgoing chair is recognized. PART VI, SECTION B, QUESTION 11B THE FORM 990 HAS BEEN REVIEWED BY THE OFFICERS OF THE FOUNDATION AND A COMPLETE COPY OF THE FEDERAL 990 HAS BEEN PROVIDED TO EACH MEMBER OF THE BOARD OF DIRECTORS BEFORE FILING WITH THE INTERNAL REVENUE SERVICE. PART VI, SECTION B, QUESTION 12C THE BOARD OF DIRECTORS APPROVED A CONFLICT OF INTEREST POLICY AND THE OVERVIEW ADDRESSES THE QUESTIONS IN PART VI: THE GOALS OF THE POLICY ARE TO IDENTIFY WHEN AND HOW CONFLICTS MAY ARISE, PROMOTE A PROCESS FOR EACH DIRECTOR TO DISCLOSE CONFLICTS, AND ELABORATE HOW THE BOARD CAN MANAGE CONFLICTS OF INTEREST. THERE IS NOTHING INHERENTLY WRONG WITH A CONFLICT SO LONG AS THE CONFLICT IS DISCLOSED AND MANAGED APPROPRIATELY. - A CONFLICT EXISTS WHEN THERE IS AN APPARENT OR ACTUAL DIVERGENCE BETWEEN A DIRECTOR'S PRIVATE INTERESTS AND HIS/HER FIDUCIARY DUTY. THIS INCLUDES TIMES WHEN RELEVANT MATERIAL FACTS AFFECT A DIRECTOR, A MEMBER OF HIS/HER FAMILY, OR AN AFFILIATE. - IT IS NOT A CONFLICT TO SERVE IN LEADERSHIP CAPACITIES FOR OTHER NONPROFIT ORGANIZATIONS, UNIVERSITY/COLLEGE FOUNDATIONS, OR INSTITUTIONS OF HIGHER EDUCATION. - IT IS NOT POSSIBLE FOR OUR POLICY TO INCLUDE AN ALL-INCLUSIVE LIST OF SITUATIONS GIVING RISE TO A CONFLICT OF INTEREST. THE POLICY DOES GIVE EXAMPLES OF SITUATIONS PRESENTING POTENTIAL, ACTUAL OR APPARENT CONFLICTS: (I) COMMERCIAL TRANSACTIONS BETWEEN DIRECTOR AND THE FOUNDATION (II) CONFIDENTIAL, PROPRIETARY OR PRIVILEGED INFORMATION NOT TO BE SHARED WITH THE PUBLIC (III) DIVERTING BUSINESS OPPORTUNITIES AWAY FROM THE FOUNDATION FOR PRIVATE GAIN (IV) DIRECTORS CANNOT HIRE, SUPERVISE OR EVALUATE IMMEDIATE FAMILY MEMBERS OR AFFILIATES (V) DIRECTORS SHALL NOT ACCEPT COMPENSATION, GIFTS OR OTHER ITEMS IN EXCHANGE FOR INFLUENCING FOUNDATION OPERATIONS AND ACTIVITIES (VI) DIRECTORS CAN ACCEPT FROM THE FOUNDATION MODEST VALUE GIFTS OR OTHER ITEMS IN CONNECTION WITH BUSINESS AND SERVICE ON THE BOARD OF DIRECTORS (VII) DIRECTORS CAN EMPLOY FOUNDATION ADMINISTRATION FOR PRIVATE CONSULTING WITH PRIOR APPROVAL - UVM TRUSTEES AND EMPLOYEES WHO SERVE AS DIRECTORS ARE SUBJECT TO THE POLICY. THEY ARE NOT AUTOMATICALLY DISQUALIFIED FROM PARTICIPATING IN FOUNDATION BOARD DISCUSSIONS AND BUSINESS. RARE OCCASIONS MAY EXIST WHEN THEY WILL BE DISQUALIFIED FROM VOTING ON SPECIFIC MATTERS. - PROTOCOL (I) DIRECTORS ANNUALLY FILE CONFLICTS DISCLOSURE FORM BY MAY 30 (II) PRIOR TO COMMITTEE OR FULL BOARD MEETINGS, CONFLICTS MUST BE DISCLOSED AND MANAGED. THEY WILL BE EVALUATED BY PRESIDENT & CEO, COMMITTEE/BOARD CHAIR, AND THE AUDIT COMMITTEE. (III) DEPENDING UPON THE CONFLICT, DIRECTOR MAY OR MAY NOT BE ABLE PARTICIPATE IN THE DISCUSSION AND/OR VOTE ON AGENDA ITEM RELATED TO CONFLICT. (IV) IF NECESSARY, WE CAN REQUEST THE OPINION OF FOUNDATION LEGAL COUNSEL. PART VI, SECTION B, QUESTIONS 15A AND 15B THE EXECUTIVE COMMITTEE SHALL ALSO SERVE AS THE COMPENSATION COMMITTEE, CHARGED WITH PERIODICALLY AND NO LESS THAN ONCE ANNUALLY REVIEWING AND APPROVING, FOLLOWING RECOMMENDATIONS FROM THE PRESIDENT AND CHIEF EXECUTIVE OFFICER, THE COMPENSATION AND BENEFITS THE FOUNDATION WILL PROVIDE TO ITS CORPORATE OFFICERS (WITH THE PRESIDENT AND CHIEF EXECUTIVE OFFICER RECUSING HIM OR HERSELF WITH RESPECT TO ANY DELIBERATIONS OR DECISIONS REGARDING HIS OR HER COMPENSATION). THE BOARD OF DIRECTORS HAS DELEGATED THE HIRING DECISION FOR ALL NON-OFFICERS TO THE PRESIDENT AND CHIEF EXECUTIVE OFFICER. PART VI, SECTION C, QUESTION 19 THE UVM FOUNDATION MAINTAINS A DOCUMENT LIBRARY ON ITS WEBSITE FOR THE PUBLIC TO VIEW GOVERNANCE & POLICIES, GIVING FORMS, FINANCIAL REPORTS, MEETING AGENDAS, AND MEETING MINUTES. WWW.UVMFOUNDATION.ORG PART X, LINES 27, 28, AND 29 PRESENTATION OF NET ASSETS THE FOUNDATION HAS ADOPTED FASB ASU 2016-14, PRESENTATION OF THE FINANCIAL STATEMENTS FOR NOT-FOR-PROFIT ENTITIES AND THE JUNE 30, 2018 AUDITED FINANCIAL STATEMENTS CLASSIFY NET ASSETS AS EITHER NET ASSETS WITHOUT DONOR RESTRICTIONS OR NET ASSETS WITH DONOR RESTRICTIONS. FOR PURPOSES OF FORM 990, PART X, LINES 27, 28, AND 29, THE FOUNDATION HAS CLASSIFIED NET ASSETS AS UNRESTRICTED, TEMPORARILY RESTRICTED, OR PERMANENTLY RESTRICTED FOR CONSISTENCY WITH PRIOR YEAR INFORMATION. PART XI, LINE 9 EQUITY TRANSFER FROM UVM $ 3,650 EQUITY TRANSFER TO UVM $ (1,619,355) UNCOLLECTABLE PLEDGES $ (334,160) ROUNDING $ (1) ------------- TOTAL $ (1,949,866) UVMF HOLDINGS LLC 411 MAIN STREET BURLINGTON VT 05401 300877053 INVEST HOLD VT 1033476 29784891 UVM FOUNDATI UVM FOUNDATION RETIREE HEALTH PLAN TRUST 411 MAIN STREET BURLINGTON VT 05401 320443476 HEALTH BENEFI VT 501(C)(9) UVM FOUNDATI true false false false false false false false false false false false false false false false true false false false UVM FOUNDATION RETIREE HEALTH PLAN TRUST p 74273 FMV PART VII THE FOUNDATION USUALLY MAKES A TRANSFER OF CASH TO THE UVM FOUNDATION RETIREE HEALTH PLAN TRUST TWICE A MONTH FOR EMPLOYEE HEALTH BENEFITS.