2019-05-10T07:55:30-05:00 2018-06-30 450250958 EIDE BAILLY LLP 877 W MAIN ST STE 800 BOISE ID 83702 990 2017-07-01 826010706 Boise State University Foundation Inc BOIS 2084263276 1173 University Drive Boise ID 83706 Paul Powell Executive Director 2084263276 2019-04-29 1 Kim Hunwardsen CPA P00484560 2083447150 2019-04-25 38.72.131.171 2019-04-29 15:37:38 MD P 51153E6FE133A46BE9F60C7A8748BC609ADBB28A E3B96EF6EB1F71A28E9A044EB2088E22A2328E47 2017 2019-02-21 02:37:17Z Paul Powell 1173 University Drive Boise ID 83706 227986619 0 X https://giving.boisestate.edu/about/foundation/ X 1964 ID To inspire, generate, and prudently manage private support for Boise State University. 37 37 0 37 0 -19855 20389109 19288082 2851940 5863190 5225158 6045500 540338 15411083 29006545 46607855 20503188 39266684 0 0 2405696 2356248 0 0 2029632 2408936 1990793 25317820 43613725 3688725 2994130 206383805 194939790 24999810 8195188 181383995 186744602 To raise funds and support for Boise State University's programs, prudently manage all private funds donated to the University, and act as an envoy and link between the University and its constituencies. 0 0 5272071 5272071 0 The Foundation administers 1,234 different scholarships for Boise State University. Applicants are required to write an essay, provide transcripts, and if applying for scholarships requiring financial need applicants must include the Free Application for Federal Student Aid report (FAFSA). Other requirements may be included, depending on the scholarship. During fiscal year end June 30, 2018, the Foundation distributed 1,886 scholarship awards to 1,894 recipients. 3719885 3719885 0 The Foundation provides support services for both the Bronco Athletic Association and the BSU Alumni Association. This includes, but is not limited to, member lists, data entry and updates, financial support through donation receipts, reporting, and other ad hoc services as they are needed such as managing registration for events. 30706968 30274728 5873323 The Foundation provides for general support for Boise State University. Some highlights for the fiscal year end June 30, 2018 include the continued support of the Fine Arts Building and Material Sciences Building, the PhD Program for Materials Science and Engineering, Computer Science, STEM, College of Health Sciences, research in public policy, education, arts and sciences and other various support programs at Boise State University. The Foundation also funded the creation and support of the College of Innovation and Design.The Foundation was able to gift to BSU two buildings during the fiscal year. They were the Alumni and Friends Center and the Ruch Engineering Building. 39698924 1 1 0 0 0 0 0 0 1 1 1 1 0 0 1 1 1 0 0 0 1 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 X 24 1 1 0 1 1 0 0 0 0 1 1 0 0 0 0 X 37 37 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X Anne Sorenson 2084262372 1173 University Drive Boise ID 83706 Royanne F Minskoff Chair 1.00 X X 0 0 0 John R Gale Vice Chair 1.00 X X 0 0 0 Patricia Olsson Secretary 1.00 X X 0 0 0 George H Juetten Treasurer 1.00 X X 0 0 0 Mary C Adcox Director 1.00 X 0 0 0 Candice D Allphin Director 1.00 X 0 0 0 Emily R Baker Director 1.00 X 0 0 0 Eileen L Barber Director 1.00 X 0 0 0 Tom M Beitia Director 1.00 X 0 0 0 Eric L Bouchard Director 1.00 X 0 0 0 Jeffrey W Casey Director 1.00 X 0 0 0 Kevin M Chen Director 1.00 X 0 0 0 James D Crawford Director 1.00 X 0 0 0 Ted Epperly Director 1.00 X 0 0 0 James T Girvan Director 1.00 X 0 0 0 John A Grizzaffi Director 1.00 X 0 0 0 Randall L Hales Director 1.00 X 0 0 0 Jay L Hawkins Director 1.00 X 0 0 0 Robert F Heffner Director 1.00 X 0 0 0 Ernest A Hoidal Director 1.00 X 0 0 0 Rod P MacKinnon Director 1.00 X 0 0 0 Bernadette M Madarieta Director 1.00 X 0 0 0 Jason T Manning Director 1.00 X 0 0 0 Robert Maynard Director 1.00 X 0 0 0 Michael S Mers Director 1.00 X 0 0 0 Ronald S Meyers Director 1.00 X 0 0 0 Neil W Nelson Director 1.00 X 0 0 0 Rob R Perez Director 1.00 X 0 0 0 Rodney Reider Director 1.00 X 0 0 0 Debra K Riedel Director 1.00 X 0 0 0 Christopher W Roth Director 1.00 X 0 0 0 Bonnie P Schwenkfelder Director 1.00 X 0 0 0 Brandy N Stemmler Director 1.00 X 0 0 0 David J Terrell Director 1.00 X 0 0 0 Louis D Voulelis Director 1.00 X 0 0 0 David S Wali Director 1.00 X 0 0 0 Holli H Woodings Director 1.00 X 0 0 0 Chris Anton thru Oct 2017 Chief Operating & Investment Officer 40.00 X 136861 0 10367 Paul Powell from Feb 2018 Executive Director 40.00 X 0 0 0 136861 0 10367 1 0 0 1 0 437021 410448 18440613 6787516 19288082 Program Income 611710 5709406 5709406 Membership Dues 611710 153784 153784 5863190 3913259 3913259 182519490 990496 181330290 47455 1189200 943041 2132241 2132241 70940 1019 69921 69921 Gain On Transfer Of Assets 531390 15331029 15331029 Amortization Of Deferred Revenue 900099 10133 10133 15341162 46607855 5873323 0 21446450 33994613 33994613 5272071 5272071 141801 127621 14180 1404065 561512 842553 216003 78843 137160 513402 149294 364108 80977 50677 30300 43133 12427 30706 34375 1525 32850 500096 332677 167419 59457 13987 45470 27745 16357 11277 111 156873 81794 75079 7808 400 7408 55039 5020 50019 239396 20000 219396 268895 268895 25006 14958 9609 439 Dues & Subscriptions 33438 7674 25694 70 Printing & Publications 2618 2618 536914 7215 14086 515613 43613725 39698924 1885169 2029632 6668752 3013780 23545625 8010949 2508000 25000 3245 99916 659000 16056337 659000 107368024 134710877 45797674 44610336 4436148 3809932 206383805 194939790 990827 1929870 13802901 232976 601273 1018923 4325345 3255872 3003419 2000000 2000000 23592 10000 24999810 8195188 X 14335688 15403566 80200504 77665698 86847803 93675338 181383995 186744602 206383805 194939790 X 2994130 2577477 -211000 X 0 1 X 1 0 X 16872128 20887346 41071044 20389109 19288082 118507709 16872128 20887346 41071044 20389109 19288082 118507709 15299797 103207912 3174965 3106581 3055968 3261791 3913259 16512564 40415 40415 10133 90963 135111236 19283188 0.76390 0.74580 X Schedule A, Part II, Line 10, Explanation of Other Income: Amortization of deferred revenue - 2015 Amount: $ 40,415. 2016 Amount: $ 40,415. 2017 Amount: $ 10,133. 0 1 X 105443617 7099568 6836494 3117213 1510861 114751605 96708402 1329531 12578341 3823836 1348821 105443617 98020722 4131556 -958716 3344435 1140725 96708402 95665945 5967765 1408562 3223133 267381 1531036 98020722 83399459 3807491 13191625 2568064 739633 1424933 95665945 0.03370 0.14990 0.81640 0 0 659000 659000 659000 International Equity Funds 36350880 F Private Equity Investments 2278765 F Real and Specialty Assets 5075761 F Hedge Funds 492515 F Insurance Annuities 412415 F 44610336 Interest Payable 10000 10000 X 48514922 2577477 27862 1019 2606358 45908564 699291 699291 46607855 43154315 27862 1019 28881 43125434 488291 488291 43613725 Part IV, Line 2b: The Foundation acts as trustee for various revocable and irrevocable trusts. These trusts are governed by the respective trust agreements, which generally provide for either an income stream or a future distribution of cash or other assets to the Foundation, in whole or in part, for a specified period or upon the occurrence of a specific event, respectively. If a trust is revocable, or if the maker of the trust reserves the right to replace the Foundation as the beneficiary of the trust, the Foundation records the assets placed in trust at fair value, with an equal and offsetting liability until such time the Foundation receives distributions from the trust in accordance with its terms. If the trust is irrevocable, the trust assets are recorded at fair value, and a related liability for future payments to be made to the specified beneficiaries is recorded at fair value using present value techniques and risk-adjusted discount rates. The excess of contributed assets over the trust liability is recorded as a temporarily or permanently restricted contribution until such amount is received via trust distribution and/or is expended in satisfaction of the restricted purpose stipulated by the trust agreement, if any, at which time temporarily restricted net assets are released to unrestricted net assets and permanently restricted net assets are transferred to the endowment. In subsequent years, the liability for future trust payments to the donor is reduced by payments made to the donor and is adjusted to reflect changes in the fair value of the liability at the end of the year. Upon termination of the trust, the remaining liability is removed and recognized as income. In addition, the Boise State Public Radio (BSPR), an operating division of the University, transferred assets to the Foundation for investment and management, which are included in amounts held in custody for others. Part V, Line 4: The intent of the endowment fund is to permanently maintain funds that are limited by donor-imposed restrictions that neither expire by the passage of time nor can be fulfilled or otherwise removed by action of the Foundation. The restrictions stipulate that resources be maintained permanently, but permit the Foundation to expend the investment revenues and gains generated through the invested funds with the purpose of providing distributions that will be used to provide scholarship and operating funds for the University and the Foundation. Part X, Line 2: The Foundation is organized as an Idaho nonprofit corporation and has been recognized by the Internal Revenue Service (IRS) as exempt from federal income taxes under Section 501(a) of the Internal Revenue Code as organizations described in Section 501(c)(3), qualifies for the charitable contribution deduction under Section 170(b)(1)(A)(vi) and has been determined not to be a private foundation under Section 509(a)(1). The Foundation is annually required to file a Return of Organization Exempt from Income Tax (Form 990) with the IRS. In addition, the Foundation is subject to income tax on net income that is derived from business activities that are unrelated to their exempt purposes. Currently, the Foundation has determined it is not subject to unrelated business income tax and has not filed an Exempt Organization Business Income Tax Return (Form 990-T) with the IRS. The Foundation believes that it has appropriate support for tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The Foundation would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. Part XI, Line 2d - Other Adjustments: Special event and gaming expense reported with revenue for tax purposes. 1,019. Part XI, Line 4b - Other Adjustments: Expenses recorded in revenue on financial statements. 699,291. Part XII, Line 2d - Other Adjustments: Special event and gaming expense reported with revenue for tax purposes. 1,019. Part XII, Line 4b - Other Adjustments: Expenses recorded with revenue on financial statements. 488,291. Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 Investment 9257000 Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 Expenditures 555000 0 0 0 0 0 0 9812000 0 9812000 1 0 1 1 0 0 Form 990, Schedule F Information provided on Schedule F relates to the Foundation's direct and indirect investments during the tax period. The Foundation has evaluated potential foreign filing requirements, and has filed respective forms. None of the Foundation's ownership interests in foreign corporations requires a Form 5471 to be filed for the tax period. In addition, the investment partnerships have properly filed Form 8621, or the underlying investments did not generate any unrelated business income triggering the filing of the form. Transfers of capital were all under the $100,000 threshold so Form 926 is not required. Bronco Dairy Boosters 70940 70940 251 768 70940 70940 251 768 1019 69921 1 Bronco Athletic Association Inc 1910 University Drive Boise ID 83725 826026578 501(c)(3) 3331545 Support of athletic programs and student athletes Boise State University Alumni Association Inc 1910 University Drive Boise ID 83725 820289531 501(c)(3) 388340 Support of development and advancement of Boise State University Boise State University 1910 University Drive Boise ID 83725 820290701 State of Idaho 13447975 16826753 FMV Real assets and property. Support of academic, athletic and administrative departments. 3 0 Scholarships 1894 5272071 Part I, Line 2: The vast majority of our scholarships and payments go to Boise State University. These distributions are made from the Foundation or through distributions from Bronco Athletic Association and Boise State University Alumni Association. We rely on the University's record keeping to make sure the scholarships and payments conform to their requirements. The Foundation awards certain scholarships directly, but remits the payment to BSU for those scholarships. The students self report and submit a FASFA to show that they qualify for the scholarships. Form 990, Schedule I, Part III Scholarship recipients are tracked via a database. The athletic scholarships are provided by the compliance team. 0 0 0 0 0 0 0 0 0 Chris Anton thru Oct 2017 Chief Operating & Investment Officer 136861 0 0 0 0 0 10367 0 0 0 147228 0 0 0 Form 990, Schedule J, Part II: The Chief Operating and Investment Officer and the Executive Director are employees of Boise State University an unrelated organization. They receive compensation from Boise State University for the services provided to the Foundation. The calendar year 2017 compensation is reported in Part II. The Executive Director joined after the end of 2017 so does not have calendar year compensation. X 52 6150310 Avg High/Low X 1 615000 FMV X Life Insurance Policies 1 22206 Surrender Value 1 0 1 0 Part I, Column (b): The number of contributions is the unique number of contributors. The Foundation policy for all security gifts is to sell immediately. The Sales are completed by Foundation staff, most of which are donated through an account at Charles Schwab. The Foundation consultants do no buy or sell for the Foundation, rather, they make a recommendation and we complete the transaction. Form 990, Part V, Lines 2a/2b & Part IX, Lines 5-10: All Foundation employees are employed by Boise State University. The Foundation reports zero Form W-2s filed because the University handles all related payroll filings. The Foundation reports salary, benefits and payroll tax expense in functional expenses because the Foundation reimburses the University for these expenses. Form 990, Part VI, Section A, line 1 The governing body of the organization delegates authority to act on its behalf to the Executive Committee. The Executive Committee consists of the Chair, Vice Chair, Secretary, Treasurer, immediate Past Chair, and the Chairs of the following Board committees: Audit; Governance; Real Estate; Investment; Scholarship. All members of the Executive Committee are voting Directors. The Executive Committee shall exercise all powers of the Board between the meetings of said Board, except the Executive Committee may not take any of the following actions: (i) authorize distributions, (ii) approve dissolution, merger or the sale, pledge or transfer of all or substantially all of the Foundation's assets, (iii) elect, appoint, or remove Directors or fill vacancies on the Board of Directors on any of its committees, or (iv) adopt, amend, or repeal the Articles of the Bylaws. Form 990, Part VI, Section A, line 4 During the year, the following significant changes were made to the bylaws: 1. Change Director terms from 3/3/3 year terms to 2/4/3 year terms. 2. Move from fixed number of Directors to variable number of directors. 3. Change some titles for executive officers. 4. Add position of Immediate Past Chair. 5. Add position of Executive Director and eliminate positions of COO and CIO. Form 990, Part VI, Section B, line 11b The Form 990 is reviewed by the Foundation staff prior to being provided to the Audit Committee. The Audit Committee reviews and recommends approval to the Executive Committee who gives final approval. The Board is informed of the Executive Committee's approval and a copy of the Form 990 is made available to the Board. Form 990, Part VI, Section B, line 12c The Conflict of Interest policy covers Directors, Officers, all employees, and others who can influence the actions of the Foundation. Determinations are made by the Board or a committee of the Board, if appropriate. The Board or Executive Committee will determine whether a conflict exists, and, in the case of an existing conflict, whether the contemplated transaction may be authorized as just, fair, and reasonable to the Foundation. The decision of the Board or Executive Committee on these matters will rest in their sole discretion, and their concern must be the welfare of the Foundation and advancement of its purpose. If a conflict of interest were to arise involving a member of the Board or Executive Committee, the individual is required to recuse themselves from voting on the issue. Form 990, Part VI, Section B, line 15a The Chief Operating and Investment Officer and the Executive Director are employees of Boise State University who are loaned to the Foundation and are responsible for Foundation operations. The University performs compensation studies and coordinates compensation in conjunction with state legislature appropriations. Form 990, Part VI, Section C, line 19 The Foundation's governing documents are not available for public review. The Form 990 is available upon request. Form 990, Part XI, line 9: Impairment on property held for investment. -211,000. The Edmund E & Alice R Palmatier Charitable Trust c/o Wells Fargo Bank One West Fourt WinstonSalem NC 27101 943233102 Distribution of scholarship awards ID 501(c)(3) PF Boise State University Foundation 1 The Frances J Woods Charitable Trust c/o Wells Fargo Bank One West Fourt WinstonSalem NC 27101 311564469 Distribution of scholarship awards ID 501(c)(3) PF Boise State University Foundation 1 Charitable Remainder Trusts (7) Distributions for Scholarship Awards ID N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 The Edmund E and Alice R Palmatier Charitable Trust C 176148 FMV The Frances J Woods Charitable Trust C 65984 FMV