2018-04-27T12:03:56-05:00 2017-06-30 420714325 RSM US LLP 80 CITY SQUARE BOSTON MA 021293742 990 2016-07-01 046013152 UNIVERSITY OF MASSACHUSETTS FOUNDATION INC UNIV 6172875590 ONE BEACON STREET 31ST FLR BOSTON MA 02108 CHARLES J PAGNAM EXECUTIVE VICE PRESIDENT 6172875590 2018-04-27 1 LYNNE JOHNSON P00757336 6179129000 69.174.87.164 2018-04-27 13:01:26 ED P 797C4527DD8FA635CA18458D5F36AC81F3168434 3EC94109562373352E9E98DBECBB638387A64460 2016 2021-01-29 14:40:06Z MARTIN T MEEHAN ONE BEACON STREET 31ST FLR BOSTON MA 02108 309981487 0 X WWW.UMASSP.EDU/FOUNDATION X 1950 MA THE MISSION OF THE UNIVERSITY OF MASSACHUSETTS FOUNDATION, INC. IS TO FOSTER AND PROMOTE THE GROWTH, PROGRESS AND GENERAL WELFARE OF THE UNIVERSITY OF MASSACHUSETTS AS STATED IN THE ORIGINAL 1950 ARTICLES OF ORGANIZATION. THE FOUNDATION RECEIVES, INVESTS AND DISBURSES PRIVATE GIFTS FOR THE BENEFIT OF THE UNIVERSITY OF MASSACHUSETTS AND ITS EDUCATIONAL MISSION. 32 32 7 40 291491 290491 29849462 40556084 0 0 -1202846 21575603 10943129 10541137 39589745 72672824 14830470 15905683 0 0 279054 202304 0 0 5467722 9527773 7512856 24637297 23620843 14952448 49051981 470604215 542558498 4790172 3977571 465814043 538580927 TO FOSTER AND PROMOTE THE GROWTH, PROGRESS AND GENERAL WELFARE OF THE UNIVERSITY OF MASSACHUSETTS AS STATED IN THE ORIGINAL 1950 ARTICLES OF ORGANIZATION. TO INVEST PRIVATE SUPPORT FOR THE BENEFIT OF THE UNIVERSITY OF MASSACHUSETTS. 0 0 16588798 15905683 10576873 THE UNIVERSITY OF MASSACHUSETTS FOUNDATION, INC. INVESTS FUNDS FOR THE BENEFIT OF THE UNIVERSITY OF MASSACHUSETTS INCLUDING, BUT NOT LIMITED TO SUPPORT OF THE SCHOLARSHIP AND EDUCATION PROGRAMS AND GENERAL PROGRAM SERVICES EXPENDITURES. 16588798 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 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 19 0 1 7 1 1 1 0 0 0 0 1 1 0 0 0 0 X 32 32 0 0 1 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 MA AK AR CA CO DC HI KY MD ME MI MN NH NJ NY OH OK OR SC TN UT WA WI WV NV X JUDITH A MURPHY 7744557185 333 SOUTH STREET SHREWSBURY MA 01545 MARTIN T MEEHAN CHAIR/PRESIDENT/DIRECTOR 5.00 X X 0 0 0 JAMES P PAPPAS SECRETARY/DIRECTOR 1.00 X X 0 0 0 EDWARD H D'ALELIO TREASURER/DIRECTOR 1.00 X X 0 0 0 DOUGLAS CLIGGOTT DIRECTOR 1.00 X 0 0 0 STEPHEN R DUNNE DIRECTOR 1.00 X 0 0 0 DANIEL E FEDER DIRECTOR 1.00 X 0 0 0 STANLEY L FUNG DIRECTOR 1.00 X 0 0 0 MARIA D FURMAN DIRECTOR 1.00 X 0 0 0 WARREN J ISABELLE DIRECTOR 1.00 X 0 0 0 JOHN D KATTAR DIRECTOR 1.00 X 0 0 0 R NORMAN PETERS ESQ DIRECTOR 1.00 X 0 0 0 MARY L REED DIRECTOR 1.00 X 0 0 0 ROBERT R REITANO DIRECTOR 1.00 X 0 0 0 MICHAEL F COLLINS MD DIRECTOR 1.00 X 0 0 0 PATRICIA C FLAHERTY DIRECTOR 1.00 X 0 0 0 JAMES R JULIAN JR DIRECTOR 1.00 X 0 0 0 KUMBLE R SUBBASWAMY PHD DIRECTOR 1.00 X 0 0 0 ROBERT J MANNING DIRECTOR 1.00 X 0 0 0 JACQUELINE MOLONEY DIRECTOR 1.00 X 0 0 0 LISA A CALISE DIRECTOR 1.00 X 0 0 0 NATHAN P CHESLEY DIRECTOR 1.00 X 0 0 0 SUZANNE L STEFANY DIRECTOR 1.00 X 0 0 0 SANDRA E COSTA DIRECTOR 1.00 X 0 0 0 ROBERT D ETTINGER DIRECTOR 1.00 X 0 0 0 PHILIP W JOHNSTON DIRECTOR 1.00 X 0 0 0 MARY L BURNS DIRECTOR 1.00 X 0 0 0 ROBERT E JOHNSON PHD DIRECTOR 1.00 X 0 0 0 BARRY MILLS JD PHD DIRECTOR 1.00 X 0 0 0 MARK A MARINELLA DIRECTOR 1.00 X 0 0 0 ANDREW T RUDD DIRECTOR 1.00 X 0 0 0 J KEITH MOTLEY DIRECTOR (UNTIL JUN. 2017) 1.00 X 0 0 0 CHRISTINE M WILDA DIRECTOR (UNTIL FEB. 2017) 1.00 X 0 0 0 PEYTON RANDOLPH HELM DIRECTOR (UNTIL JUN. 2017) 1.00 X 0 0 0 VICTOR WOOLRIDGE DIRECTOR (UNTIL DEC. 2016) 1.00 X 0 0 0 CHARLES J PAGNAM EXECUTIVE VICE PRESIDENT 40.00 X 454962 0 150699 JUDITH A MURPHY ASSOC. VP/CONTROLLER 40.00 X 193477 0 64541 SANDY FISHER ASSOC. VP/ADVANCEMENT INFO SERVICES 40.00 X 144668 0 48464 SARAH MCDONNELL SR. FOUNDATION ASSOCIATE 40.00 X 105810 0 35680 DANIEL SWARTZ ADVANCEMENT SYSTEMS ASSOCIATE 40.00 X 116863 0 39325 SUSAN DAVIS SENIOR FOUNDATION ASSOCIATE 40.00 X 103265 0 10327 CHRISTOPHER YOULDEN SENIOR FINANCIAL ANALYST 40.00 X 112877 0 38010 1231922 0 387046 7 0 1 0 ELLUCIAN COMPANY LP 4375 FAIR LAKES CT FAIRFAX VA 22033 IT CONSULTANTS 1722753 IMODULES SOFTWARE INC 5101 COLLEGE BLVD LEAWOOD KS 66211 FUNDRAISING SOFTWARE SUPPORT 239785 RISKMETRICS SOLUTIONS LLC PO BOX 417097 BOSTON MA 02241 RISK MANAGEMENT 112500 SUNGUARD BUSINESS SYSTEMS LLC 601 RIVERSIDE AVE JACKSONVILLE FL 32204 ACCOUNTING 108285 4 23300 63550 40469234 9891702 40556084 1565895 291491 1274404 257201831 237192123 20009708 20009708 20009708 80804 23300 116540 -35736 -35736 INVESTMENT MANAGEMENT 561000 10010302 10010302 PRIOR YEAR UNSPENT INC 900099 1137897 1137897 CHANGE IN VALUE SPLIT 561000 -736708 -736708 165382 165382 10576873 72672824 10576873 291491 21248376 X 15905683 15905683 162855 32571 130284 20230 4046 16184 19219 3844 15375 189253 47313 113552 28388 1049070 209814 839256 42502 42502 1899424 22770 1876654 881855 124 498 881233 58429 11686 46743 2150050 3376 2146674 258565 51713 206852 9055 1811 7244 30620 6124 24496 314069 314069 95191 95191 DEVELOPMENT ENHANCEMENT 304952 304952 OTHER FUNDRAISING EXP. 229821 229821 23620843 16588798 1564323 5467722 97772 116273 26499559 24468075 55350 88864 19087487 1755608 8090435 17331879 282098423 354909282 153762676 145644125 470604215 542558498 62740 51895 1224638 1162107 3502794 2763569 4790172 3977571 X 26867992 38383206 64379936 92218661 374566115 407979060 465814043 538580927 470604215 542558498 49051981 23714903 0 X 0 1 X 1 0 X 22055603 24936176 30424916 29849462 40556084 147822241 22055603 24936176 30424916 29849462 40556084 147822241 14643985 133178256 950927 799157 808236 1011346 1565895 5135561 26410 68725 45560 80954 80804 302453 153260255 50709106 0.86900 0.89280 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 620952352 62512697 23391223 660073826 0 397974357 30567089 45686854 14781324 577083 -3760428 462630321 406925325 22286208 -19200705 12934014 54889 -952432 397974357 397944973 22965041 -3157056 11918160 82863 -1173390 406925325 340240491 23633160 43278294 10495222 489746 -1777996 397944973 308858283 14656944 25497568 9325969 426209 -979874 340240491 0.00380 0.80900 0.18720 0 0 3069140 3069140 15843523 1593789 14249734 174824 161819 13005 17331879 ALTERNATIVE INVESTMENTS 145644125 F 145644125 OBLIGATIONS TO BENEFICIARIES OF SPLIT-INTEREST AGREEMENTS 2763569 2763569 X 159753672 23714903 62512697 86227600 73526072 -853248 -853248 72672824 47128605 23507762 23507762 23620843 0 23620843 PART IV, LINE 1B: AGENCY ACCOUNTS ARE INVESTMENTS HELD ON BEHALF OF THE UNIVERSITY OF MASSACHUSETTS AND THE EDWARD M. KENNEDY INSTITUTE. PART V, LINE 4: THE INTENDED USES OF THE FOUNDATION'S ENDOWMENT FUNDS ARE TO BE SPENT WITHIN THE ESTABLISHED CRITERIA FOR THE FUND IN SUPPORT OF THE SCHOLARSHIP AND EDUCATION PROGRAMS OF THE UNIVERSITY OF MASSACHUSETTS. PART X, LINE 2: THE FOUNDATION IS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AS AMENDED (THE CODE), AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. THE FOUNDATION IS REQUIRED TO ASSESS UNCERTAIN TAX POSITIONS AND HAVE DETERMINED THAT THERE WERE NO SUCH POSITIONS THAT WERE MATERIAL TO THE FINANCIAL STATEMENTS AS OF JUNE 30, 2017 OR JUNE 30, 2016. PART XI, LINE 2D - OTHER ADJUSTMENTS: AMOUNTS RELATED TO UNIVERSITY OF MASSACHUSETTS 62,512,697. PART XI, LINE 4B - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -736,708. FUNDRAISING EVENTS DIRECT EXPENSES REPORTED ON 990, PART VIII, LINE 8B -116,540. PART XII, LINE 2D - OTHER ADJUSTMENTS: AMOUNTS RELATED TO AGENCY 23,391,222. FUNDRAISING EVENTS DIRECT EXPENSES REPORTED ON 990, PART VIII, LINE 8B 116,540. CENTRAL AMERICA INVESTMENTS 66119000 EAST ASIA & PACIFIC INVESTMENTS 4385000 EUROPE INVESTMENTS 5721000 MIDDLE EAST & NORTH AFRICA INVESTMENTS 226000 NORTH AMERICA INVESTMENTS 1889000 RUSSIA INVESTMENTS 863000 SOUTH AMERICA INVESTMENTS 1678000 SOUTH ASIA INVESTMENTS 620000 SUB-SAHARAN AFRICA INVESTMENTS 1413000 0 0 0 0 0 0 81501000 1413000 82914000 1 0 1 1 1 0 FOOTBALL EVENT 39500 39500 34750 12096 4261 GOLF EVENT 51800 23300 28500 1900 17505 22277 8010 1 12804 12804 8560 6239 942 104104 23300 80804 1900 60815 40612 13213 116540 -35736 1 UNIVERSITY OF MASSACHUSETTS 333 SOUTH ST SUITE 450 SHREWSBURY MA 01545 043167352 115 15905683 SEE PART IV 1 PART I, LINE 2: DISBURSEMENTS TO THE UNIVERSITY OF MASSACHUSETTS ARE SUBJECT TO THE EXPENDITURE AND DISBURSEMENT POLICIES OF THE UNIVERSITY OF MASSACHUSETTS, INCLUDING ALLOWABILITY, APPROPRIATENESS (BUSINESS PURPOSE, ADEQUATE DOCUMENTATION, AND PROPER APPROVALS), AND DONOR INTENT AS SPECIFIED IN THE DONOR INTENT DOCUMENT SUPPLIED AT THE TIME THE GIFT IS RECEIVED FROM THE DONOR. PART II, LINE 1, COLUMN (H): DISTRIBUTIONS TO THE UNIVERSITY OF MASSACHUSETTS ARE PROVIDED IN THE FORM OF STUDENT SUPPORT (SCHOLARSHIPS, FELLOWSHIPS, ETC.), FACULTY AND STAFF SUPPORT (ENDOWMENT FACULTY POSITIONS, RESEARCH, PROFESSIONAL DEVELOPMENT), ACADEMIC PROGRAM SUPPORT, AND FACILITIES SUPPORT. 0 0 0 0 0 0 0 0 0 CHARLES J PAGNAM EXECUTIVE VICE PRESIDENT 454962 0 0 0 0 0 150699 0 0 0 605661 0 0 0 JUDITH A MURPHY ASSOC. VP/CONTROLLER 193477 0 0 0 0 0 64541 0 0 0 258018 0 0 0 SANDY FISHER ASSOC. VP/ADVANCEMENT INFO SERVICES 144668 0 0 0 0 0 48464 0 0 0 193132 0 0 0 DANIEL SWARTZ ADVANCEMENT SYSTEMS ASSOCIATE 116863 0 0 0 0 0 39325 0 0 0 156188 0 0 0 CHRISTOPHER YOULDEN SENIOR FINANCIAL ANALYST 112877 0 0 0 0 0 38010 0 0 0 150887 0 0 0 X 32 341702 FMV ON DATE OF GIFT X 1 9550000 FMV 0 1 1 PART I, COLUMN (B): FOR THE DONATED SECURITIES, THE ORGANIZATION IS REPORTING THE NUMBER OF GIFTS RECEIVED. FOR THE DONATED REAL ESTATE, THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTOR. PART I, LINE 32B: SHARES OF PUBLICLY TRADED SECURITIES CONTRIBUTED BY DONORS ARE TRANSFERRED BY THE DONOR'S CUSTODIAN TO A CUSTODY ACCOUNT MAINTAINED BY THE UNIVERSITY OF MASSACHUSETTS FOUNDATION AT BNY MELLON. BNY MELLON HAS A STANDING ORDER TO SELL SUCH SECURITIES IN A TIMELY AND ORDERLY FASHION AND TO TRANSFER THE PROCEEDS FROM THE SALE TO THE UNIVERSITY OF MASSACHUSETTS FOUNDATION. FORM 990, PART VI, SECTION A, LINE 4 THERE WERE CHANGES TO THE BY-LAWS OF THE FOUNDATION DURING THE FISCAL YEAR ENDING JUNE 30, 2017: - PUBLIC DIRECTORS MAY BE ELECTED FOR ONLY THREE TERMS BUT MAY ONLY SERVE TWO CONSECUTIVE TERMS WITH THE SUBSEQUENT THIRD TERM OCCURRING AFTER AT LEAST A YEAR HIATUS FROM SERVICE - QUORUM FOR MEETINGS IS SET AT ONE HALF OF MEMBERS (PREVIOUSLY 1/3) - PROXY VOTING ALLOWED - A VOTING MEMBER MAY DELEGATE VOTING RIGHTS TO ANOTHER MEMBER OF THE BOARD UPON WRITTEN CONSENT - OFFICE OF PRESIDENT AND CHIEF EXECUTIVE OFFICER RENAMED TO CHAIR - OFFICE OF SECRETARY MUST BE A DIRECTOR - EXECUTIVE COMMITTEE ACTS ONLY AS NECESSARY IN BETWEEN BOARD MEETINGS (PREVIOUSLY WAS DECLARED ADMINISTRATIVE BODY OF THE FOUNDATION) FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE CHAIR OF THE GOVERNANCE AND AUDIT COMMITTEE PRIOR TO ITS FILING WITH THE IRS AND THEN FORWARDED BY HIM TO THE FULL BOARD OF DIRECTORS FOR THEIR REVIEW AND COMMENT. FORM 990, PART VI, SECTION B, LINE 12C THE MEMBERS OF THE BOARD OF DIRECTORS AND OFFICERS ARE REQUIRED TO COMPLETE AN ANNUAL CONFLICT OF INTEREST STATEMENT THAT ACKNOWLEDGES THAT THEY HAVE READ AND UNDERSTAND THE POLICY. ON THIS STATEMENT, THEY ARE REQUIRED TO LIST ANY POTENTIAL CONFLICT. RESPONSES ARE GATHERED BY FOUNDATION COUNSEL. FOUNDATION COUNSEL AND THE CHAIR OF THE GOVERNANCE AND AUDIT COMMITTEE REVIEW THE RESPONSES AND IDENTIFY ANY POTENTIAL CONFLICTS. THE DIRECTORS AND OFFICERS ARE ALSO REQUIRED TO SUPPLEMENT THEIR RESPONSES IN THE EVENT THAT ANY ADDITIONAL POTENTIAL CONFLICTS ARISE DURING THE YEAR. WHEN A DIRECTOR OR OFFICER BECOMES AWARE OF A PROPOSED COVERED TRANSACTION UNDER THE POLICY, HE OR SHE HAS A DUTY TO TAKE THE FOLLOWING ACTIONS: A) IMMEDIATELY DISCLOSE THE EXISTENCE OR CIRCUMSTANCES OF SUCH COVERED TRANSACTION TO THE FOUNDATION'S BOARD OF DIRECTORS IN WRITING; B) REFRAIN FROM USING HIS OR HER PERSONAL INFLUENCE TO ENCOURAGE THE FOUNDATION TO ENTER INTO THE COVERED TRANSACTION; AND C) PHYSICALLY EXCUSE HIMSELF OR HERSELF FROM ANY DISCUSSIONS REGARDING THE COVERED TRANSACTION EXCEPT TO ANSWER QUESTIONS, INCLUDING BOARD DISCUSSIONS AND DECISIONS ON THE SUBJECT. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS, AND FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). IN ADDITION, THE FORM 990 WITHOUT SCHEDULE B IS AVAILABLE VIA GUIDESTAR AND THE OFFICE OF THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE. FORM 990, PART IX, LINE, 12, COLUMN (D) - ADVERTISING AND PROMOTION: THESE EXPENSES REPRESENT AN ONGOING MULTI-MEDIA BRANDING CAMPAIGN WHICH FOCUSES ON THE ACTIVITIES AND ACCOMPLISHMENTS OF THE UNIVERSITY'S STUDENTS AND FACULTY. THIS COMES AS A TIME WHEN THE UNIVERSITY HAS ENJOYED A STRING OF SUCCESSES, INCLUDING SURGING STUDENT ENROLLMENT AND CONTINUED RECOGNITION AS A NATIONAL RESEARCH AND DISCOVERY LEADER. FORM 990, PART IX, LINE 14, COLUMN (D) - INFORMATION TECHNOLOGY: IN MARCH 2007, THE UNIVERSITY OF MASSACHUSETTS' BOARD OF TRUSTEES VOTED TO DEVELOP AND IMPLEMENT A COMPREHENSIVE CONSTITUENT RELATIONSHIP MANAGEMENT SYSTEM (CRM) FOR ALL UNIVERSITY ALUMNI, PARENTS AND FRIENDS. THE FOUNDATION PROVIDES THESE FUNDRAISING SOFTWARE TOOLS TO THE UNIVERSITY'S FIVE CAMPUSES. THE GOAL OF THE PROJECT IS TO CONSOLIDATE INFORMATION FROM MULTIPLE SMALLER AND FRAGMENTED DATA SOURCES ACROSS THE FIVE UNIVERSITY CAMPUSES INTO A SINGLE, ROBUST DATABASE. THIS DATABASE WILL INFORM AND COORDINATE FUNDRAISING, COMMUNICATIONS AND ALUMNI RELATIONS ACTIVITIES IN A MORE STRATEGIC AND FOCUSED MANNER.