2018-05-11T15:35:03-05:00 2017-06-30 560747981 DIXON HUGHES GOODMAN LLP 901 EAST CARY STREET SUITE 1000 RICHMOND VA 23219 990 2016-07-01 540169627 UNIVERSITY OF MARY WASHINGTON FOUNDATION UNIV 5404791893 1125 Jefferson Davis Highway No 200 FREDERICKSBURG VA 22401 Jeff W Rountree Chief Executive Officer 5404791892 2018-05-10 1 ANGELA CAIN P01244249 8042827636 2018-05-10 2016 2022-09-23 18:48:47Z Jeff W Rountree 1125 Jefferson Davis Highway No 200 FREDERICKSBURG VA 22401 34635234 0 X www.umwf.org X 1975 VA TO RECEIVE, HOLD, AND ADMINISTER FUNDS AND PROPERTY OF ALL KINDS, FOR THE FURTHERANCE OF THE OBJECTIVES OF THE UNIVERSITY OF MARY WASHINGTON. 34 34 6 0 -350951 -356563 6101495 5847449 8605692 8605168 99638 1077152 339851 210541 15146676 15740310 4217704 4721794 0 0 1300275 1596539 0 0 529391 9029787 8866558 14547766 15184891 598910 555419 176064393 178564338 153789043 144105586 22275350 34458752 To receive, hold, invest, administer and distribute funds and property of all kinds, exclusively in furtherance of the educational activities and objectives of the University of Mary Washington. 0 0 12917689 4721794 8605168 The UMW Foundation serves as the private asset manager for the University of Mary Washington. The Foundation manages all of the University's privately donated cash and investments as well as being engaged in real estate acquisition, development and management on behalf of the institution. 12917689 1 1 0 1 0 0 0 1 0 1 1 0 0 1 1 1 1 1 0 0 1 0 0 0 0 1 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 X 130 1 1 6 1 1 1 0 0 0 0 0 0 0 0 0 X 34 34 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 0 VA X The foundation 5404791893 1125 Jefferson Davis Highway No 200 FREDERICKSBURG VA 22401 Kathleen Shepherd Mehfoud CHAIRMAN 0.30 X X 0 0 0 EDWARD V ALLISON JR VICE CHAIRMAN 0.30 X X 0 0 0 THERESA YOUNG CRAWLEY SECRETARY 0.30 X X 0 0 0 Richard V HURLEY DIRECTOR 0.10 X 0 0 0 mark Kuechler DIRECTOR 0.10 X 0 0 0 F EUGENE BAILEY DIRECTOR 0.10 X 0 0 0 Monecia Helton Shelton Director 0.10 X 0 0 0 Michael A Cirami DIRECTOR 0.10 X 0 0 0 Lisa Bratton Soltis DIRECTOR 0.10 X 0 0 0 Jeane Baughan Stone DiRECTOR 0.10 X 0 0 0 Sean M Tuffy dIRECTOR 0.10 X 0 0 0 Donald H Newlin DiRECTOR 0.10 X 0 0 0 RITA MORGAN STONE DIRECTOR 0.10 X 0 0 0 DIANA RUPERT LIVINGSTON DiRECTOR 0.10 X 0 0 0 CAROL MULDOON MARTEL DiRECTOR 0.10 X 0 0 0 ANDREW PAINTER DiRECTOR 0.10 X 0 0 0 XAVIER R RICHARDSON DiRECTOR 0.10 X 0 0 0 ROBERT J BARRY ESQ DiRECTOR 0.10 X 0 0 0 Patricia Boise Kemp DIRECTOR 0.10 X 0 0 0 SYLVIA MCJILTON WOODCOCK DIRECTOR 0.10 X 0 0 0 Patricia B Revere DIRECTOR 0.10 X 0 0 0 Mona D Albertine DIRECTOR 0.10 X 0 0 0 Dori Eglevsky DIRECTOR 0.10 X 0 0 0 Samuel C Harding Jr DIRECTOR 0.10 X 0 0 0 FLORIAN N HOFER dIRECTOR 0.10 X 0 0 0 LLOYD TILTON BACKSTROM DiRECTOR 0.10 X 0 0 0 Joseph W Grzeika DIRECTOR 0.10 X 0 0 0 H CONRAD WARLICK DIRECTOR 0.10 X 0 0 0 Lynne Williams Neave DIRECTOR 0.10 X 0 0 0 Lee Enos Kelley DIRECTOR 0.10 X 0 0 0 Troy D Paino DiRECTOR 0.10 X 0 0 0 Angela Mills DiRECTOR (Ex-officio) 0.10 X 0 0 0 RICHARD R PEARCE DIRECTOR (Ex-officio) 0.10 X 0 0 0 Fred M Rankin III DIRECTOR (Ex-officio) 0.10 X 0 0 0 JEFF W ROUNTREE CHIEF EXECUTIVE OFFICER 65.00 X 311928 0 43613 Greg A Branner Chief Financial Officer/Tr 55.00 X 135478 0 32048 Shannon C Williams Controller 45.00 X 108356 0 13393 555762 0 89054 3 0 1 0 Donley's LLC 7325 Beufont Springs Drive Suite 3 richmond VA 23225 Construction 808182 Sodexo Inc & Affiliates 9801 Washingtonian blvd gaithersburg MD 20878 catering 230637 AVI-SPL 540 Huntmar Park Dr Suite B Herndon VA 20170 Technology Services 203995 Artemis Wealth Advisors LLC 168 5th ave new york NY 10010 investment services 179924 Dixon Hughes Goodman LLP 901 E Cary Street 10th floor richmond VA 23219 accounting services 117725 6 21465 5825984 752772 5847449 Student dorm rental 532000 7441659 7441659 Faculty rental income 532000 747586 747586 Miscellaneous program income 900099 415923 415923 8605168 379106 -350951 730057 2714488 2503947 210541 210541 210541 17006823 16308777 698046 698046 698046 82200 82200 0 15740310 8605168 -350951 1638644 4721794 4721794 540685 146786 283809 110090 1055854 386632 669222 17831 14831 3000 25440 25440 107553 107553 47613 47613 469460 81580 387880 36897 36907 -10 55261 55261 547195 451819 83381 11995 707657 689940 17717 25325 10727 14598 78670 59810 18860 4288229 4288229 2144874 1999539 22764 122571 Donor events 80427 80427 Other fundraising expen 78406 78406 Gift in kind expense 53358 53358 Donor cultivation 51791 51791 50571 24841 25730 15184891 12917689 1737811 529391 1381189 291195 2352415 5280494 3280228 2050615 861663 2222518 1314563 1314563 127544 110946 135866499 22736064 115200892 113130435 25078636 34404639 12672968 7599400 432912 235997 13361383 11923536 176064393 178564338 737456 647915 69413 41932 80790000 79998496 42679159 42260671 29513015 21156572 153789043 144105586 X -38900253 -30703030 14259521 14910788 46916082 50250994 22275350 34458752 176064393 178564338 X 555419 2961978 8666005 X X 0 1 X 1 0 X 4589527 6006987 8104595 6101495 5847449 30650053 1514913 1571000 1444395 1509113 1426795 7466216 6104440 7577987 9548990 7610608 7274244 38116269 4740517 33375752 2906746 3034064 3965312 3488236 3444545 16838903 54955172 40615603 0.60730 0.60120 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 47613 0 0 47613 0 Part II-B, Line 1: During this fiscal year, the state legislature was considering bills to provide funding to the University of Mary Washington and other higher education institutions in Virginia. The Foundation, on behalf of the University, supported the cost of consultants who made direct contact with members of the General Assembly or their staff. The consultants also monitored legislation and advised University management of the status of the legislation. Also included are out-of-pocket costs paid to the consultants for copying, phone calls and lobbyist's registration fees. 303838 X 0 43653068 2522015 4162936 2381137 47956882 45668363 2667732 -2475657 2207370 43653068 46389394 2149663 -634685 2236009 45668363 41385223 2137246 4893164 2026239 46389394 36201131 3243786 3775719 1835413 41385223 0.81910 0.18090 0 0 11230207 23005193 34235400 17334404 77347141 18573289 76108256 3790104 2753711 1036393 476496 1351948 949365 879079 1118000 213006 459699 871307 113130435 Cash surrender value of life insurance 535953 Donated property - artwork 303838 Deposits 14089 Restricted deposits 5379465 Due from Eagle Hospitality 173789 Investment in Eagle Hospitality 5217519 Other receivables 298883 11923536 Gift Annuity Liability 816640 Tenant Deposits 98312 Interest Rate Swap Contracts 19664351 due to umw 498037 due to alumni association 79232 21156572 X 35449555 2961978 1494786 14941693 19398457 16051098 -310788 -310788 15740310 23266153 1494786 6586476 8081262 15184891 0 15184891 Part III, Line 4: Art works have been accepted on behalf of the University Art Gallery and are in custodial care of the University. Part V, Line 4: The Foundation's endowment consists of multiple individual funds. The endowed funds are all donor-restricted endowments consisting of student scholarships and awards, faculty support, and other support of the arts and program operations. Part X, Line 2: The Foundation is exempt from income tax under the Internal Revenue Code Section 501(c)(3) and the tax statutes of the Commonwealth of Virginia; accordingly, the accompanying financial statements do not reflect a provision or liability for federal and state income taxes. The LLCs, other than Eagle Hospitality, are disregarded entities for tax purposes and are included in the Foundation filings. There are certain activities conducted by the Foundation that are considered unrelated business activities which are not exempt from federal and state income tax. The Foundation files timely federal and state returns for these activities and makes the necessary tax payments, if applicable. Part XI, Line 2d - Other Adjustments: Unrealized GAIN on interest rate swap contracts 8,852,508. change in split interest agreements -35,182. change in cash surrender value of life insurance 23,167. GAMING EXPENSES NETTED IN REVENUE ON 990 82,200. interfund management fees 292,158. RENTAL EXPENSES NET WITH RENTAL INCOME ON 990 2,503,947. Eagle Hospitality Income included in Consolidated F/S 3,222,890. rounding 5. Part XI, Line 4b - Other Adjustments: Investment Income (loss) - Eagle Hospitality -365,193. Interest income on Eagle Hospitality loan 54,405. Part XII, Line 2d - Other Adjustments: GAMING EXPENSES NETTED IN REVENUE ON 990 82,200. interfund management fees 292,158. RENTAL EXPENSES NET WITH RENTAL INCOME ON 990 2,503,947. Eagle Hospitality expenses included in Consolidated F/S 3,751,015. Minority interest eliminating entry -42,850. rounding 6. Central America and the Caribbean - 0 0 INVESTMENTS 3246159 0 0 0 0 0 0 3246159 0 3246159 1 0 1 1 1 0 Part I, Line 3, column f Amount at Part I, line 3, column f is investments reported on accrual basis. 82200 10000 72200 0 82200 10000 72200 82200 VA 1 0 0 0 1.00000 THE FOUNDATION 1125 Jefferson Davis Highway SUITE FREDERICKSBURG VA 22401 0 Clint Often As an employee of the University, the gaming manager coordinates the raffle program, application for license, oversees the sale of raffle tickets to NCAA teams, and payout of prizes. X 1 8220 Schedule G, Part III, Line 5 Other Direct Expenses includes $70,257 that was contributed to University of Mary Washington. The Foundation holds the event each year and contributes any remaining revenue after the cash prize and expenses are paid to University of Mary Washington. 1 University of Mary Washington 1301 College Avenue Fredericksburg VA 22401 546001757 170(b)(1)(A)(v) 4572602 Scholarships for students, faculty awards, and other support of university services and programs. UNIVERSITY OF MARY WASHINGTON ALUMNI ASSOCIATION 1119 HANOVER STREET FREdericksburg VA 22401 540471667 501(c)(3) 149192 DONATION TO support THE university services and programs. 2 0 Part I, Line 2: For scholarships - UMW provides adequate documentation and audit trails for scholarship payments to students. University department of Financial Aid is responsible for determining eligibility of students under terms of endowments, and for awarding financial aid through the department of Student Accounts. The Foundation first advances the University the designated amount of funds which allows the University to pay out the scholarships. All disbursements are approved by the CEO of the Foundation. The Foundation periodically compares the UMW scholarship system report which shows what the University has paid out to the Foundations Scholarships and Awards Payment History. Differences are investigated and corrected. Other assistance to the University is approved in advance of funding to the university or paid directly by the Foundation on the University's behalf. X X 0 1 0 0 0 0 0 0 0 JEFF W ROUNTREE CHIEF EXECUTIVE OFFICER 237147 0 35000 0 39781 0 33993 0 9620 0 355541 0 0 0 Greg A Branner Chief Financial Officer/Tr 119527 0 15951 0 0 0 15004 0 17044 0 167526 0 0 0 Part I, Line 4b The Foundation entered into a non-qualified deferred compensation agreement with its CEO during FYE 2017. The $39,781 reported in Schedule J, Part II, Column B(iii) other reportable compensation is related to this agreemet. A industrial development authority Stafford County and Staunton VA 412119657 852412LR4 2007-08-08 2500000 1201 WILLIAMS STREET Purchase and improvement of property 0 0 0 B Economic Development Authority Fredericksburg VA 521303430 2013-07-12 79820000 Refinance a portion of 2012 bank of america taxable loan 0 0 0 A 450000 2500000 148081 2351919 2008 0 0 1 1 B 1740000 79820000 3358254 76461746 2013 0 0 1 1 A 0 0 0 0 0 0 0 B 1 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 B 0 0 0 0 1 0 0 0 A 0 B 0 X 53 699414 fair market value X Special event contributions 18 53358 Fair market value 0 1 1 Part I, Line 32b: The Foundation uses stock brokers to sell gifts of publicly traded stock. Form 990, Part V, Line 4a: during calendar year 2016, the organization held foreign hedge fund investments. Under guidance provided in irs notice 2010-23 and FinCEN 31 CFR Part 103, a financial interest in, or signature authority over, a foreign hedge fund or private equity fund does not require the organization to file fincen form 114, report of foreign bank and financial accounts. irs notice 2010-23 also states that "provided the taxpayer has no other reportable foreign financial accounts for the year in question, a taxpayer who qualifies for the filing relief provided in this Notice should check the "no" box in response to FBAR-related questions found on federal tax forms. therefore, the organization has checked "no" on form 990, part v, line 4a. Form 990, Part VI, Section B, line 11b Upon final review by the CFO and CEO of the Foundation, the 990 (in draft form) will be submitted simultaneously to the Chairman of the Audit Committee and all members of the Executive Committee. The Audit Committee will make any needed alterations and approve the Form 990 and Form 990-T for review by the Board of Directors. Once the Board has reviewed, the Form 990 and Form 990-T will be finalized and signed by the CEO and filed with the IRS. Form 990, Part VI, Section B, line 12c At the first annual board meeting and at such other times as the board or committee may deem appropriate, the board or committee of directors shall conduct a review of the UMW Foundation's activities to ensure that the Foundation is operating in a manner consisent with accomplishing its charitable purposes and that its operations do not result in private inurement or impermissible benefit to private interest. Form 990, Part VI, Section B, line 15 Board's compensation committee researches various salary studies for comparable data. Form 990, Part VI, Section C, line 19 The University of Mary Washington Foundation will post on the organization's website (www.umwf.org) and therefore make available to any member of the public, its governing documents. Form 990, Part XI, line 9: Unrealized gain (loss) on swap contracts 8,852,508. Change in surrender value of life insurance 23,167. Change in value of split-interest agreements -35,182. Adjustment to Eagle Hospitality Loss to Agree to K-1 -174,488. Form 990, Part XII, Line 2c: An Audit Committee shall be elected by the Board of Directors at its annual meeting. In addition to other duties assigned to it by the Board of Directors, the Audit Committee shall oversee the Corporation's audit process, including (i) communicating with the auditors and the Corporation's staff, (ii) review of the audit and management letter process, and (iii) recommending to the Board of Directors potential audit firms. The Audit Committee shall also be responsible for receiving, investigating and resolving "whistleblower" complaints concerning the Corporation's financial and accounting practices. All members of the Audit Committee shall be financially literate, and at least one member shall possess accounting or financial management expertise. Form 990, Part IV, lines 12a and 12b University of Mary Washington FOundation obtains separate, independent audited financial statements which are then included in the consolidated, independent audited financial statements of University of Mary Washington. Eagle Property Holdings LLC 1125 JEFFERSON DAVIS HIGHWAY SUITE Fredericksburg VA 22401 300491606 Real estate HOLDING COMPANY VA 288723 17697891 UNIVERSITY OF MARY WASHINGTON FOUNDATION Eagle Housing LLC 1125 JEFFERSON DAVIS HIGHWAY SUITE Fredericksburg VA 22401 263699705 student housing projects HOLDING COMPANY VA 8920768 82969518 UNIVERSITY OF MARY WASHINGTON FOUNDATION EAGLE VILLAGE I LLC 1125 JEFFERSON DAVIS HIGHWAY SUITE Fredericksburg VA 22401 261479875 RENTAL - RETAIL PROPERTY VA 1252148 13584549 EAGLE PROPERTY HOLDINGS LLC SNOWDEN STREET LLC 1125 JEFFERSON DAVIS HIGHWAY SUITE Fredericksburg VA 22401 300491606 REAL ESTATE VA 0 1753290 EAGLE PROPERTY HOLDINGS LLC EAGLE PIZZA LLC 1125 JEFFERSON DAVIS HIGHWAY SUITE Fredericksburg VA 22401 271592906 REAL ESTATE VA 128181 1315740 eagLE PROPERTY HOLDINGS LLC EAGLE VILLAGE - ROGER DODGER LLC 1125 JEFFERSON DAVIS HIGHWAY SUITE Fredericksburg VA 22401 261729320 REAL ESTATE VA 273543 2916629 EAGLE PROPERTY HOLDINGS LLC TRANSITIONAL PROPERTIES LLC 1125 JEFFERSON DAVIS HIGHWAY SUITE FRedericksburg VA 22401 271592853 REAL ESTATE VA 35736 762582 EAGLE PROPERTY HOLDINGS LLC Eagle Developers LLC 1125 JEFFERSON DAVIS HIGHWAY SUITE fredericksburg VA 22401 364710338 STUDENT CENTER VA 0 2551 EAGLE PROPERTY HOLDINGS LLC Eagle Hospitality LLC 1125 JEFFERSON DAVIS HIGHWAY SUITE FRedericksburg VA 22401 453538218 Limited Service Hotel VA Eagle Property Holdings LLC unrelated -365193 15017262 0 -365193 1 0.92410 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Eagle Hospitality LLC D 1150000 FMV Eagle Hospitality LLC D 215000 FMV Eagle Hospitality LLC E 41211 FMV