2018-05-03T10:00:41-05:00 2017-06-30 271235638 MCM CPAS & ADVISORS LLP 462 S FOURTH ST SUITE 2600 LOUISVILLE KY 402023445 990 2016-07-01 611131682 EASTERN KENTUCKY UNIVERSITY FOUNDATION INC EAST 8596225012 521 LANCASTER AVE CPO 15A RICHMOND KY 40475 BERRY POINTER TREASURER EKUF TREASURER 8596225012 2018-04-25 1 REBECCA L PHILLIPS CPA P00024055 5027491900 128.136.148.166 2018-04-25 17:30:46 ED P DBF9BA511EE4BBED143D498443DC70AC4FF7B755 D29D84F6D7E271DF429660EFF37C42B486B079A8 2016 2021-01-29 14:40:06Z MS MARIBETH BERMAN 521 LANCASTER AVE CPO 15A RICHMOND KY 40475 11711266 0 X HTTP//DEVELOPMENT.EKU.EDU/ X 1968 KY PROVIDING FINANCIAL SUPPORT FOR EASTERN KENTUCKY UNIVERSITY IN ACCOMPLISHING ITS GOALS OF EDUCATION AND REGIONAL STEWARDSHIP FUNDRAISING AND LONG TERM INVESTMENTS FOR THIS PURPOSE. 19 18 0 21 0 0 6163197 4862234 43619 60000 492091 1619775 2581968 106169 9280875 6648178 9789197 3677734 0 0 0 0 92932 111418 111418 690501 658326 10572630 4447478 -1291755 2200700 67269351 75814623 18717141 20281434 48552210 55533189 THE EKU FOUNDATION PROVIDES SUPPORT FOR EASTERN KENTUCKY UNIVERSITY IN ACCOMPLISHING ITS GOALS OF EDUCATION AND REGIONAL STEWARDSHIP WITHIN ITS SOUTHEASTERN KENTUCKY SERVICE REGION. 0 0 2839055 2571386 148369 FUNDING TO SUPPORT THE CORE MISSION OF THE UNIVERSITY BY ESTABLISHING FUNDS FOR ACADEMIC DEPARTMENTS TO PURCHASE EQUIPMENT, SUPPLIES, PROFESSIONAL DEVELOPMENT, AND OTHER MATERIALS RELATED TO FURTHERING THE CLASSROOM EXPERIENCE. 1106348 1106348 FUNDING TO SUPPORT STUDENT FINANCIAL AID AND SCHOLARSHIPS, THUS ENABLING THOSE STUDENTS WHO ARE BOTH CAPABLE AND/OR HAVE FINANCIAL NEED TO RECEIVE A COLLEGE EDUCATION. THESE INCLUDE MERIT SCHOLARSHIPS AWARDED TO STUDENTS IN THE EASTERN KENTUCKY UNIVERSITY HONORS PROGRAM, AS WELL AS SCHOLARSHIPS FOR STUDENTS WHO HAVE DEMONSTRATED FINANCIAL NEED. ENDOWMENT INCOME FOR INVESTED FUNDS HELD BY THE EASTERN KENTUCKY UNIVERSITY FOUNDATION IS THE PRIMARY SOURCE OF FUNDING FOR THIS PURPOSE. 3945403 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 1 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 6 0 1 0 0 0 0 0 0 1 1 0 0 0 0 0 X 19 18 0 0 1 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 KY X BARRY POYNTER TREASURER 8596225012 521 LANCASTER AVE COATES BOX 31A RICHMOND KY 40475 MARIBETH BERMAN CHAIR 1.00 X X 0 0 0 DON BORNHORST VICE CHAIR 1.00 X X 0 0 0 MARY OUSLEY SECRETARY 1.00 X X 0 0 0 RITCHIE REDNOUR TRUSTEE 1.00 X 0 0 0 BARBARA A RICKE TRUSTEE 1.00 X 0 0 0 JANE BOYER PARTIAL YEAR TRUSTEE 1.00 X 0 0 0 PAUL R COLLINS TRUSTEE 1.00 X 0 0 0 PAUL W CHELLGREN TRUSTEE 1.00 X 0 0 0 CRAIG TURNER TRUSTEE 1.00 3.00 X 0 0 0 APRIL PERRY TRUSTEE 1.00 X 0 0 0 GABE UEBEL TRUSTEE 1.00 X 0 0 0 JAMES B MOORE PARTIAL YEAR TRUSTEE 1.00 X 0 0 0 MELISSA COMBS-WRIGHT TRUSTEE 1.00 X 0 0 0 MATT EVANS TRUSTEE 1.00 X 0 0 0 THOMAS M MARTIN TRUSTEE 1.00 X 0 0 0 GARY BOOTH TRUSTEE 1.00 X 0 0 0 STEVE HALL PARTIAL YEAR TRUSTEE 1.00 X 0 0 0 RICHARD MATTINGLY TRUSTEE 1.00 X 0 0 0 JIM GUICE TRUSTEE 1.00 X 0 0 0 TROY ELLIS TRUSTEE 1.00 X 0 0 0 MICHAEL T BENSON EKU PRESIDENT 1.00 39.00 X 0 505114 69580 BARRY POYNTER VP EKU/TREASURER 3.00 37.00 X 0 187256 31241 NICHOLAS PERLICK VP OF DEVELOPMENT/EXECUTIVE DIRECTOR 20.00 20.00 X 0 164366 38591 0 856736 139412 0 0 1 0 ALEXANDER HAAS INC 3520 PIEDMONT RD NE 300 ATLANTA GA 30305 CONSULTING SERVICES 111418 1 4862234 421774 4862234 ALUMNI EVENTS 900099 60000 60000 60000 1506677 1506677 5168686 5055588 113098 113098 113098 25300 7500 17800 17800 MISCELLANEOUS 900099 88369 88369 88369 6648178 148369 0 1637575 3677734 3677734 425 425 51185 51185 111418 111418 205214 205214 134032 52502 81530 36775 36775 64733 34533 30200 500 500 563 563 1953 1953 14124 14124 19754 13728 6026 PROFESSIONAL EVENTS 86306 86306 CAPITAL EXPENDITURES 40742 40742 REGISTRATION FEES 2020 2020 4447478 3945403 390657 111418 5239646 5167544 2220351 3123719 4381 36147 48152 850000 118603 745521 731397 56066844 62902232 2751789 3643128 204672 198451 67269351 75814623 46910 42509 16849284 19366773 849428 0 971519 872152 18717141 20281434 X 4117483 4616840 16388207 21313492 28046520 29602857 48552210 55533189 67269351 75814623 2200700 4780279 0 X X 0 1 X 1 0 X 2768454 2970299 4180791 6163197 4862234 20944975 2768454 2970299 4180791 6163197 4862234 20944975 720810 20224165 1651698 1762845 1740552 1742552 1506677 8404324 19320 22200 17800 59320 29408619 3121136 0.68770 0.65650 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 60951950 2315541 7777901 1445660 0 69599732 62859044 2146270 -734577 3318787 0 60951950 61344094 4023355 667373 2914553 261225 62859044 54601531 1508259 8477630 3243326 0 61344094 46888278 1325079 7709907 1321733 0 54601531 0.12360 0.58370 0.29270 0 0 250000 250000 600000 118603 481397 731397 DUE TO UNIVERSITY 481706 DEFERRED GIFT LIABILITY 390446 872152 X 11230743 4780279 4780279 6450464 205214 -7500 197714 6648178 4249764 7500 7500 4242264 205214 205214 4447478 PART IV, LINE 2B: ASSETS HELD FOR OTHERS REPRESENT FUNDS IN THE POSSESSION OF THE FOUNDATION ON BEHALF OF EASTERN KENTUCKY UNIVERSITY, WHICH ARE HELD FOR INVESTMENT IN THE REGIONAL UNIVERSITY ENDOWMENT TRUST FUND AND PROGRAMS OF DISTINCTION FUND. PART X, LINE 2: THE INTERNAL REVENUE SERVICE (IRS) HAS DETERMINED THAT THE FOUNDATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501 OF THE INTERNAL REVENUE CODE. THE FOUNDATION IS HOWEVER SUBJECT TO FEDERAL INCOME TAX ON ANY UNRELATED BUSINESS TAXABLE INCOME. ADDITIONALLY, THE FOUNDATION HAS BEEN DETERMINED BY THE IRS NOT TO BE A PRIVATE FOUNDATION WITHIN THE CONTEXT OF SECTION 509(A) OF THE CODE. US GAAP PRESCRIBES RECOGNITION THRESHOLDS AND MEASUREMENT ATTRIBUTES FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN TAX BENEFITS OR LIABILITIES WILL BE RECOGNIZED ONLY IF THE TAX POSITION 1S MORE-LIKELY-THAN-NOT SUSTAINED 1N A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED WILL BE THE LARGEST AMOUNT OF TAX BENEFIT OR LIABILITY THAT 1S GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE MORE-LIKELY THAN-NOT TEST, NO TAX BENEFIT OR LIABILITY WILL BE RECORDED MANAGEMENT IS NOT AWARE OF ANY TAX BENEFITS OR LIABILIT1ES WHICH WOULD WARRANT RECOGNITION AS OF JUNE 3O, 2O17, NOR DOES IT EXPECT THIS TO CHANGE IN THE NEXT 12 MONTHS. THE FOUNDATION WOULD RECOGNIZE INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS IN INTEREST AND INCOME TAX EXPENSE, RESPECTIVELY. THE FOUNDATION HAS NO AMOUNTS ACCRUED FOR INTEREST OR PENALTIES AS OF JUNE 30, 2017 AND 2016. PART XI, LINE 4B - OTHER ADJUSTMENTS: GAMING EXPENSES PART XII, LINE 2D - OTHER ADJUSTMENTS: GAMING EXPENSES SCHEDULE, D PART XII, LINE 2 (D) ANNUITY LIABILITY INCREASE SCHEDULE D, PART XII, LINE 4(B) ANNUITY LIABILITY INCREASE 1 ALEXANDER HAAS INC 3520 PIEDMONT RD NE 300 ATLANTA GA 30305 CONSULTING 0 0 111418 -111418 111418 -111418 KY 25300 7500 1 1.00000 25300 7500 7500 17800 1 0 0 0 1.00000 BRAD COMPTON 521 LANCASTER AVE RICHMOND KY 40475 0 0 1 EASTERN KENTUCKY UNIVERSITY 521 LANCASTER AVE RICHMOND KY 40475 611011211 115(1) 3677734 TO ENHANCE THE STUDENT EXPERIENCE TO INCLUDE STUDENT FINANCIAL AID AND SCHOLARSHIPS, AS WELL AS FURTHER THE MISSION OF EASTERN KENTUCKY UNIVERSITY. 1 0 PART I, LINE 2: THE FOUNDATION WAS ESTABLISHED TO RECEIVE GIFTS AND CONTRIBUTIONS FOR THE BENEFIT OF EASTERN KENTUCKY UNIVERSITY AND TO ENSURE THAT FUNDS AND PROPERTY RECEIVED ARE APPLIED TO THE USES SPECIFIED BY THE DONORS. AS SUCH, AMOUNT REPORTED IN SCHEDULE I, PART II, REFLECT FINANCIAL SUPPORT THAT THE FOUNDATION PROVIDES TO THE UNIVERSITY FOR SCHOLARSHIPS, ACADEMIC PROGRAMS, RESEARCH, FACILITIES, FACULTY AND OTHER INITIATIVES OF THE UNIVERSITY. 0 0 0 0 0 0 0 0 0 MICHAEL T BENSON EKU PRESIDENT 0 400000 0 0 0 105114 0 48475 0 21105 0 574694 0 0 BARRY POYNTER VP EKU/TREASURER 0 187256 0 0 0 0 0 25677 0 5564 0 218497 0 0 NICHOLAS PERLICK VP OF DEVELOPMENT/EXECUTIVE DIRECTOR 0 164366 0 0 0 0 0 23407 0 15184 0 202957 0 0 PART I, LINE 3 COMPENSATION FOR THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL IS PAID AND DETERMINED BY EASTERN KENTUCKY UNIVERSITY (EKU), A RELATED TAX-EXEMPT ORGANIZATION. NICHOLAS PERLICK WAS THE TOP MANAGEMENT OFFICIALS OF THE EASTERN KENTUCKY UNIVERSITY FOUNDATION. HIS POSITION AS AN EMPLOYEE OF THE EASTERN KENTUCKY UNIVERSITY IS VICE PRESIDENT OF DEVELOPMENT. THEIR COMPENSATION AS SUCH IS DETERMINED VIA COMPENSATION SURVEY. X 1 1200 MARKET VALUE X 41957 MARKET VALUE X 9 361142 MARKET VALUE X 1 500 OPINION OF EXPERTS X 3 385 COST X 1 2685 COST X GIFT CARDS/ DISCOUNTS 33 5334 COST X AIRCRAFT ENGINE 1 4950 OPINION OF EXPERTS X MUSICAL INSTRUMENTS 1 2389 OPINION OF EXPERTS X TICKETS 22 1232 COST 2 0 1 0 FORM 990, PART VI, SECTION A, LINE 4 THE FOLLOWING BYLAW CHANGES WERE APPROVED BY THE BOARD OF TRUSTEES ON 4/25/2017. - REPLACE 'DIRECTORS' WITH 'TRUSTEES' EVERY PLACE THAT 'DIRECTORS' OCCURS IN THE BYLAWS. - REPLACE THE EXISTING DISSOLUTION CLAUSE IN THE ARTICLES OF INCORPORATION (ARTICLE VIII, P. 7), WITH: "UPON DISSOLUTION OF THE FOUNDATION, THE BOARD OF TRUSTEES SHALL, AFTER PAYING OR MAKING PROVISIONS FOR THE PAYMENTS OF ALL LIABILITIES OF THE FOUNDATION, TRANSFER ITS ASSETS OR PROPERTY TO THE UNIVERSITY, OR, IF APPROVED BY THE UNIVERSITY, TO A REINCORPORATED SUCCESSOR FOUNDATION, IN ACCORDANCE WITH APPLICABLE FEDERAL AND STATE LAW AND DONOR INTENT." - UPDATE ARTICLE 3.2 AS FOLLOWS: "EACH OFFICER SHALL HOLD OFFICE FOR A ONE-YEAR TERM, RENEWABLE FOR A TOTAL OF UP TO THREE ONE-YEAR TERMS." - REPLACE ARTICLE 3.1 AS FOLLOWS: "THE OFFICERS OF THE FOUNDATION SHALL BE THE CHAIRMAN OF THE BOARD, VICE CHAIRMAN, A SECRETARY, AND A TREASURER, AND SUCH OTHER OFFICERS AS MAY BE DESIGNATED BY THE BOARD OF TRUSTEES. THE UNIVERSITY VICE PRESIDENT FOR FINANCE AND ADMINISTRATION OR SUCCESSOR POSITION SHALL SERVE AS THE TREASURER. THE UNIVERSITY VICE PRESIDENT FOR DEVELOPMENT AND ALUMNI RELATIONS OR SUCCESSOR POSITION SHALL SERVE AS THE EXECUTIVE DIRECTOR OF THE BOARD. BOTH OF THESE POSITIONS WILL HAVE EX-OFFICIO, NON-VOTING STATUS." FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY THE MANAGEMENT OF EASTERN KENTUCKY UNIVERSITY ON BEHALF OF THE EASTERN KENTUCKY UNIVERSITY FOUNDATION, AS EASTERN KENTUCKY UNIVERSITY (EKU) PROVIDES ACCOUNTING AND FINANCIAL STATEMENT PREPARATION SERVICES FOR THE FOUNDATION. THEREFORE, EKU HAS THE INFORMATION NEEDED TO PREPARE THE FORM 990. THE FORM 990 WAS THEN PROVIDED TO EACH MEMBER OF THE GOVERNING BODY FOR REVIEW PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12 MANAGEMENT OF EASTERN KENTUCKY UNIVERSITY OVERSEES ALL EXPENSES AND PAYMENTS MADE BY THE EKU FOUNDATION. PART OF THE REVIEW INCLUDES MONITORING TRANSACTIONS INVOLVING ANY KNOWN RELATED PARTY ASSOCIATED WITH THE FOUNDATION, INCLUDING MEMBERS OF FOUNDATION MANAGEMENT AND/ OR FOUNDATION BOARD MEMBERS. ANY SUSPICIOUS ACTIVITY IS REVIEWED BY UNIVERSITY EXECUTIVE MANAGEMENT. IN ADDITION ALL TRUSTEES AND OFFICERS ARE SURVEYED ANNUALLY, VIA AN EXTENSIVE QUESTIONNAIRE, TO DISCLOSE A VARIETY OF RELATIONSHIPS WITH EACH OTHER OR DIRECTLY WITH THE FOUNDATION. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL AND TOP FINANCIAL OFFICIAL ARE PAID BY EASTERN KENTUCKY UNIVERSITY, A RELATED TAX-EXEMPT ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICIES ARE NOT REQUIRED DISCLOSURES PURSUANT TO INTERNAL REVENUE CODE IRC SECTION 6104. THESE DOCUMENTS ARE NOT AVAILABLE TO THE PUBLIC AT THIS TIME. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. EASTERN KENTUCKY UNIVERSITY 521 LANCASTER AVE RICHMOND KY 40475 611011211 EDUCATION KY GOVERNMENT N/A 0 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 0