2017-04-20T14:00:10-05:00 2016-06-30 350921680 CROWE HORWATH LLP 3815 River Crossing Parkway Suite 300 Post Office Box 40977 Indianapolis IN 462400977 990 2015-07-01 351052049 PURDUE RESEARCH FOUNDATION PURD 7655881061 1281 WIN HENTSCHEL BLVD WEST LAFAYETTE IN 479064182 Scott Seidle CFO and Treasurer 2017-04-20 true JOHN WOODHULL P01305268 3175698989 2015 2021-01-29 14:40:06Z Daniel J Hasler 1281 WIN HENTSCHEL BLVD WEST LAFAYETTE IN 479064182 304194946 false X www.prf.org X 1930 IN The primary mission of Purdue Research Foundation is to advance the mission of Purdue University. 15 15 460 15 0 -401623 71402550 20754178 41803307 42830599 67091163 61654697 7591124 5508136 187888144 130747610 75053184 29572671 0 0 26647317 29315576 0 0 24972675 48105322 52989537 149805823 111877784 38082321 18869826 2755186474 2618189002 1796793552 1719969111 958392922 898219891 The primary mission of Purdue Research Foundation is to advance the mission of Purdue University. false false 66949013 29572671 42830599 FUNDS WERE PROVIDED TO PURDUE UNIVERSITY FOR RESEARCH GRANTS, INTERNATIONAL TRAVEL GRANTS, AND DISTINGUISHED PROFESSOR GRANTS TO FURTHER ITS EDUCATION AND RESEARCH MISSIONS. FUNDING VIA SCHOLARSHIPS, AWARDS, DEVELOPMENT, AND ROYALTIES WAS ALSO PROVIDED TO SUPPLEMENT PURDUE UNIVERSITY. LASTLY, RENTAL INCOME WAS COLLECTED FROM TENANTS LOCATED WITHIN THE PURDUE RESEARCH PARK AS WELL AS RESIDENTIAL UNITS ON THE PURDUE UNIVERSITY CAMPUS AND SURROUNDING AREAS. PURDUE RESEARCH PARK IS THE HOME OF STATE-OF-THE-ART TECHNOLOGY BUSINESS INCUBATORS THAT HAVE A WORKING RELATIONSHIP WITH PURDUE UNIVERSITY TO PROVIDE STUDENTS WITH LEARNING AND RESEARCH OPPORTUNITIES. 66949013 true true false true false false true true true true true true false false true true false true false false true false false false false false false true false true true false false false false false false false false false false true false false false true true true true false false true 333 0 true 460 true true true false false false false false true 3 false false false X 15 15 false false false false false false false true true false false true true true true true true true true true true IN X Scott Seidle 7655881061 1281 Win Hentschel Blvd West Lafayette IN 479064182 Mitchell E Daniels Jr Chair 7.0 0.0 X X 0 0 0 David Johnson Director (Partial Year) 1.0 0.0 X 0 0 0 Charles E Schalliol Director 1.0 0.0 X 0 0 0 Carrie Kendrick Director 1.0 0.0 X 0 0 0 David Adams Director 1.0 0.0 X 0 0 0 Elizabeth Bechdol Director 1.0 0.0 X 0 0 0 J Timothy McGinley Director 1.0 0.0 X 0 0 0 Mamoon Hamid Director 1.0 0.0 X 0 0 0 Kelvin Pennington Director 1.0 0.0 X 0 0 0 William Elmore Director 1.0 0.0 X 0 0 0 Michael Bergoff Director (Partial Year) 1.0 0.0 X 0 0 0 Julia Hipps Director 1.0 0.0 X 0 0 0 Gary Lehman Director 1.0 0.0 X 0 0 0 Michael Wells Director 1.0 0.0 X 0 0 0 Thomas Spurgeon Director 1.0 0.0 X 0 0 0 Lawrence Beck Director (Partial Year) 1.0 0.0 X 0 0 0 David Andrew Broecker Director (Partial Year) 1.0 0.0 X 0 0 0 Greg Deason Vice President for Research Park Development 40.0 0.0 X 180679 0 42232 Daniel J Hasler President 40.0 0.0 X 335209 0 56110 David Hodde Assistant Secretary 40.0 0.0 X 132838 0 26345 Brian Edelman Chief Operating Officer 40.0 0.0 X 193259 0 20833 Suresh Garimella Vice President of Research 40.0 0.0 X 0 0 0 Scott Seidle Treasurer 40.0 0.0 X 258913 0 30229 Judith Hall Secretary 40.0 0.0 X 147828 0 31200 Tammy Metzinger Assistant Treasurer (Partial Year) 40.0 0.0 X 74538 0 10887 Amy Noah VP for Development 40.0 0.0 X 260444 0 24191 Cheryl Altinkemer Assoc VP for Int'l Advancement 40.0 0.0 X 195014 0 22886 Gregory Kapp Assistant VP of Development Operations 40.0 0.0 X 175930 0 23534 Alyssa Wilcox Associate VP for Advancement 40.0 0.0 X 176562 0 20934 Chad Pittman Vice President - OTC and Government Relations 40.0 0.0 X 188543 0 25992 JOSEPH B HORNETT FORMER SR VP & TREASURER 0.0 0.0 X 170000 0 0 2489757 0 335373 36 true true true Albanese & Lutzke 575 Hamilton St Ste 200 Plymouth MI 48170 Construction 1149306 Pangere Corporation 4050 W 4th Ave Gary IN 46406 Construction 1084330 Shiel Sexton Company 902 N Capital Ave Indianapolis IN 46204 Construction 655568 CSO Architects PO Box 6069 Dept 94 Indianpolis IN 46206 Architectural 598457 Automatic Irrigation Supply Co 116 Shadowlawn Dr Fishers IN 46038 Irrigation 590939 51 X 20754178 15753521 20754178 Rental Income 532000 15133579 15133579 Administrative Services 561000 27697020 27697020 0 0 0 0 42830599 18187033 18187033 4121797 4121797 0 0 211397000 5518000 169337594 4109742 42059406 1408258 43467664 43467664 Registration Fee Income 900099 450936 450936 Consulting fees 900099 142200 142200 Membership Dues 900099 101841 101841 691362 0 0 691362 1386339 130747610 42830599 0 67162833 29572671 29572671 0 0 1656814 414204 1076929 165681 20294558 1891678 4955218 13447662 2337429 220143 793384 1323902 3516444 237651 1023630 2255163 1510331 132298 423743 954290 1475913 1475913 217905 217905 2493654 2493654 3851341 566743 2228151 1056447 1541611 197831 692691 651089 972986 27233 440262 505491 572141 62 169735 402344 3982598 3982598 8619535 6959714 1614486 45335 1733547 501108 376154 856285 3352633 30551 2035103 1286979 4453266 4453266 5314044 3711308 1601989 747 17628 10752 6876 Gift Annuity Pymts & Fees 13979137 13979137 Bad Debt 3094299 3094299 UBIT Tax 413821 413821 -3096522 60065 -5177847 2021260 111877784 66949013 19956096 24972675 12852973 10335084 37975781 33236251 0 0 27873443 23265321 208683335 43111930 149167189 165571405 1400593239 1306998561 1098104139 1052951050 0 12942516 11763476 15677194 14067854 2755186474 2618189002 19042847 18258723 19671820 19384580 13695000 12280000 1607231520 1517709237 2937754 2703470 72810460 96646562 61404151 52986539 1796793552 1719969111 X 128432922 127065326 695258000 633375106 134702000 137779459 958392922 898219891 2755186474 2618189002 18869826 -79042857 0 X false true X true false X 12817939 19792965 17031256 71402550 20754178 141798888 0 0 12817939 19792965 17031256 71402550 20754178 141798888 0 141798888 18493583 20157669 22395889 19948873 22308930 103304944 0 1364700 2830474 800445 2531550 1386339 8913508 254017340 136379280 0.5582 0.5681 X Schedule A, Part II, Line 10 Other Income DESCRIPTION - OTHER INCOME, COLUMN A - 1364700.0, COLUMN B - 2830474.0, COLUMN C - 800445.0, COLUMN D - 2531550.0, COLUMN E - 1386339.0, COLUMN F - 8913508.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 14290 14290 false Schedule C, Part II-B, Line 1 Description of the activities reported on lines 1A through 1I Purdue Research Foundation provides funding to support lobbying the Purdue Washington office. All lobbying is to further the mission of Purdue University. Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY PURDUE RESEARCH FOUNDATION PROVIDES FUNDING TO SUPPORT LOBBYING THE PURDUE WASHINGTON OFFICE. ALL LOBBYING IS TO FURTHER THE MISSION OF PURDUE UNIVERSITY. Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY PURDUE RESEARCH FOUNDATION PROVIDES FUNDING TO SUPPORT LOBBYING THE PURDUE WASHINGTON OFFICE. ALL LOBBYING IS TO FURTHER THE MISSION OF PURDUE UNIVERSITY. X 2 1.0 0 0 0 1 true 8239 true 0 18600 X decoration false false true X 654944017 4731050 -32319821 16130532 12051241 599173473 654357009 8625077 20372317 15083292 13327094 654944017 591455299 4729943 88270606 14724013 15374826 654357009 575663351 4378454 61153574 14850082 34889998 591455299 614305452 2269222 -14068163 16131201 10711959 575663351 0.0 0.2 0.8 false false 65934290 65934290 125011277 36597984 88413293 7059320 3592224 3467096 3961428 2921722 1039706 6717020 6717020 165571405 Real Estate 72172846 F Natural Resources 109390588 F Hedge Funds 556618036 F Funds invested with Purdue University 14085328 F OTHER ALTERNATIVE INVESTMENTS 300684252 F 1052951050 Gift Annuity Payable 4377224 Due on split interest trusts 48609315 52986539 X Schedule D, Part II, Line 5 Conservation easements policy Purdue Research Foundation has a policy in place to ensure annual monitoring of conservation easements for federal guideline compliance. Schedule D, Part II, Line 9 Conservation easements financial reporting Conservation easements are considered assets on the balance sheet. Any expenses associated with the monitoring, inspecting, and enforcing of easements are expensed in the year incurred. Schedule D, Part III, Line 4 Collections of art - description of collections Purdue Research Foundation owns a collection of antique medicine bottles. The collection was donated to Purdue Research Foundation by a physician. The collection is being held for display. Schedule D, Part IV, Line 2b Explanation of escrow agreement The Foundation acts as a custodian for certain contributions received by affiliate foundations for the benefit of Purdue University. The Foundation holds these funds as a trustee until they are expended for the University. The excess of contributions over expenditures is shown as a liability on the balance sheet. The Foundation also acts as agent to provide all necessary services for the proper administrations of the Purdue University's endowments and other investable assets. Investment assets of the University are held in agency for the University and are reflected on the balance sheet with a corresponding liability on the balance sheet. Schedule D, Part V, Line 4 Intended uses of endowment funds The endowment funds are held for the benefit of Purdue University to be used for scholarships and awards. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The Foundation is exempt from income taxes under Section 501(c)(3) of the United States Internal Revenue Code and a similar provision of state law. However, the Foundation is subject to federal income tax on any unrelated business taxable income. The Foundation is not considered to be a private foundation. Current accounting standards require the Foundation to disclose the amount of potential benefit or obligation to be realized as a result of an examination performed by a taxing authority. For the year ended June 30, 2016 and 2015, management has determined that the Foundation does not have any tax positions that result in any uncertainties regarding the possible impact on the Foundation's financial statements. The Foundation does not expect the total amount of unrecognized tax benefits to significantly change in the next 12 months. The Foundation recognizes interest and/or penalties related to income tax matters in income tax expense. The Foundation did not have any amounts accrued for interest and penalties at June 30, 2016 and 2015. As a not-for-profit entity, the Foundation is exempt from federal and state income taxes. However, its wholly-owned subsidiary, Park LLC, is a for-profit Indiana entity subject to federal and state income taxes. Park LLC has net operating loss carry forwards of approximately $5,924 and $10,566 as of June 30, 2016 and 2015, respectively. The deferred tax assets associated with this loss have been fully offset with a valuation allowance as their realization is not considered more likely than not. Central America and the Caribbean Investments 578955000 Europe (Including Iceland and Greenland) Investments 19854000 North America (Canada & Mexico only) Investments 65731000 East Asia and the Pacific Investments 3952000 0 0 0 0 0 0 668492000 0 668492000 true false true true true true Schedule F, Part I, Line 3 ACTIVITIES PER REGION THE AMOUNTS REPORTED REFLECT VARIOUS FOREIGN INVESTMENTS WHICH ARE CATEGORIZED BY THE REGION AS DETERMINED BY THE DOMICILE OF EACH INVESTMENT. ALL INVESTMENTS FOR A PARTICULAR REGION HAVE BEEN AGGREGATED ACCORDINGLY. true Purdue University 401 South Grant Street West Lafayette IN 47906 356002041 501(C)(3) 21468761 scholarships and awards Purdue University 401 South Grant Street West Lafayette IN 47906 356002041 501(C)(3) 2914736 scholarships-xrxl Purdue University 401 South Grant Street West Lafayette IN 47906 356002041 501(C)(3) 3955008 research grant-xrxl Purdue University 401 South Grant Street West Lafayette IN 47906 356002041 501(C)(3) 50000 equipment grants-xrxl purdue university 401 south grant street west lafayette IN 47906 356002041 501(c)(3) 287499 distinguished professor grants purdue university 401 south grant street west lafayette IN 47906 356002041 501(c)(3) 416000 summer research grant-xrxl purdue university 401 south grant street west lafayette IN 47906 356002041 501(c)(3) 269723 special incentive research grant-xrxl Purdue University 401 south grant street west lafayette IN 47906 356002041 501(c)(3) 151000 International travel grants-xrxl purdue university 401 south grant street west lafayette IN 47906 356002041 501(c)(3) 35000 inter-disciplinary fellowship-xrxl purdue university 401 south grant street west lafayette IN 47906 356002041 501(c)(3) 24944 research grant govt industry 1 0 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. At the beginning of the tax year, Purdue University submits an approved budget for grant requests to the Purdue Research Foundation. Funds are transferred to the University on a quarterly basis according to the approved budget to be awarded by Purdue. All money granted to Purdue University is used for program activities to further education and research activities. X X X true true X X X X true false false false false false false true false Greg Deason Vice President for Research Park Development 180053 0 0 0 626 0 27677 0 14555 0 222911 0 0 0 Daniel J Hasler President 317384 0 0 0 17825 0 42538 0 13572 0 391319 0 0 0 David Hodde Assistant Secretary 130524 0 0 0 2314 0 20195 0 6150 0 159183 0 0 0 Brian Edelman Chief Operating Officer 192554 0 0 0 705 0 19255 0 1578 0 214092 0 0 0 Scott Seidle Treasurer 212287 0 45000 0 1626 0 21287 0 8942 0 289142 0 0 0 Judith Hall Secretary 146655 0 0 0 1173 0 23150 0 8050 0 179028 0 0 0 Amy Noah VP for Development 209852 0 50000 0 592 0 21192 0 2999 0 284635 0 0 0 Cheryl Altinkemer Assoc VP for Int'l Advancement 192816 0 0 0 2198 0 19831 0 3055 0 217900 0 0 0 Gregory Kapp Assistant VP of Development Operations 174563 0 0 0 1367 0 17904 0 5630 0 199464 0 0 0 Alyssa Wilcox Associate VP for Advancement 176003 0 0 0 559 0 17740 0 3194 0 197496 0 0 0 Chad Pittman Vice President - OTC and Government Relations 188256 0 0 0 287 0 19263 0 6729 0 214535 0 0 0 JOSEPH B HORNETT FORMER SR VP & TREASURER 0 0 0 0 170000 0 0 0 0 0 170000 0 0 0 Schedule J, Part I, Line 1a First-class or charter travel Purdue Research Foundation owns an airplane used by the Purdue Aviation Department for educational training. The plane is also used on occasion by the Purdue Board of Trustees and management for travel for business purposes. Purdue Research Foundation expenses associated with the airplane are excluded from taxable income for the individuals since they are used for business purposes. Schedule J, Part I, Line 1a Housing allowance or residence for personal use The President of the Foundation has a housing allowance for personal use such that the Foundation President may be close to the organization to handle any necessary business matters. Purdue Research Foundation expenses associated with the housing allowance are included as taxable income. Schedule J, Part I, Line 1a Health or social club dues or initiation fees Purdue Research Foundation pays country club dues for individuals that are conducting business at the club (such as donor relations), and not for any personal benefit. The amount of country club dues are evaluated for the portion of personal versus business use. The adjusted dues are then included on the earning statements for those individuals. Schedule J, Part I, Line 4a Severance or change-of-control payment joseph b. hornett received severance in the amount of $170,000 in 2015. Schedule J, Part I, Line 7 Non-fixed payments The organization's treasurer received a bonus at the discretion of the board of directors. A Indiana Finance Authority 351602316 4550576H7 2012-06-13 16311239 Refunding of 2004 and 2004B bonds false false false A 4031239 0 16311239 0 0 16099421 211818 0 0 0 0 0 2012 false true true true A false false false false 0.0 0.0 0.0 false false true A false true false false false false false false true A true X 402 15288535 Market value X 1 261986 Selling cost X Farm Equipment 1 203000 Selling cost 0 false true false Form 990, Part VI, Line 1a Delegate broad authority to a committee The Executive Committee shall consist of 7 members: 4 members of said committee shall be nominated by the Chair and elected annually by the Board of Directors from the membership of said Board, provided that no more than two (2) may be Group Two directors. Such members of said Committee shall serve for one year and until their successors are duly elected and qualified. The President shall be a member ex-officio of said Committee with full voting rights, and the Chair and Vice-Chair shall also be members of said Committee, with the Chair serving as the chair of said Committee. The Executive Committee has general oversight of all questions affecting the policy, property, and functions of the Foundation subject to the control and direction of the Board of Directors. During intervals between Board meetings, the Executive Committee may exercise all authority of the Board of Directors in the management of the Foundation, except as limited by the Board of Directors. Form 990, Part VI, Line 11b Review of form 990 by governing body The Form 990 will be completed annually after the audit is complete. The company's President and Chief Entrepreneurial Officer will review the Form 990 with the Assistant Vice President of Finance and also the Company's Finance and Audit Committee. After resolving any questions or updates, the Form 990 will be presented to the board members. All questions and concerns of the members of the board will be addressed by the Assistant Vice President of Finance and incorporated into the Form 990 as appropriate. After all input has been appropriately addressed, the Form 990 will be filed by the due date. Form 990, Part VI, Line 12c Conflict of interest policy A conflict of interest questionnaire is completed annually by all employees and board members. Any conflicts of interest are investigated by the human resources department. If a conflict of interest is established, human resources will establish safeguards to protect all parties involved. Form 990, Part VI, Line 15a Process to establish compensation of top management official The Purdue Research Foundation has a compensation committee that reviews and approves the non routine suggested salary increases for all officers. All salaries are also reviewed by the Finance/Audit committee during the course of the overall budget preparation and then sent to the full board for approval. Purdue Research Foundation uses comparability data from similar Foundations and Universities in determining the salaries for the officers. The approval of the salaries is documented in the Board of Directors minutes. This process was last undertaken in 2016. Form 990, Part VI, Line 15b Process to establish compensation of other employees The Purdue Research Foundation has a compensation committee that reviews and approves the non routine suggested salary increases for all officers. All salaries are also reviewed by the Finance/Audit committee during the course of the overall budget preparation and then sent to the full board for approval. Purdue Research Foundation uses comparability data from similar Foundations and Universities in determining the salaries for the officers. The approval of the salaries is documented in the Board of Directors minutes. This process was last undertaken in 2016. Form 990, Part VI, Line 19 Required documents available to the public The governing documents and financial statements are available to the general public upon request to Purdue Research Foundation. The conflict of interest policy is not available to the public at this time. Form 990, Part VIII, Line 11d Other Miscellaneous Revenue - Total Revenue: 691362, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 691362; - Total Revenue: , Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; - Total Revenue: , Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Indiana Proteomics Consortium LLC 1281 WIN HENTSCHEL BLVD WEST LAFAYETTE IN 479064182 431952076 RESEARCH DE 1 259871 PURDUE RESEARCH FOUNDATION VACCINE LLC 1281 WIN HENTSCHEL BLVD WEST LAFAYETTE IN 479064182 351052049 RESEARCH & EDUCATION IN 188 65758 PURDUE RESEARCH FOUNDATION PURDUE UNIVERSITY OF CALUMET LLC 1281 WIN HENTSCHEL BLVD WEST LAFAYETTE IN 479064182 351052049 MANAGE TECHNOLOGY CENTER IN 0 0 PURDUE RESEARCH FOUNDATION HUBZERO FOUNDATION LLC 1281 WIN HENTSCHEL BLVD WEST LAFAYETTE IN 479064182 351052049 RESEARCH & EDUCATION IN 49191 113978 PURDUE RESEARCH FOUNDATION THE FOUNDRY INVESTMENT FUND LLC 1281 WIN HENTSCHEL BLVD WEST LAFAYETTE IN 479064182 351052049 CHARITABLE IN 163308 10347699 PURDUE RESEARCH FOUNDATION BACK A BOILER - ISA FUND LLC 1281 WIN HENTSCHEL BLVD WEST LAFAYETTE IN 479064182 384010443 educational assistance IN 0 0 PURDUE RESEARCH FOUNDATION BOILERMAKER HEALTH INNOVATIONS INC 160 GREENTREE DRIVE 101 DOVER DE 19904 261999384 SUPPORT PURDUE RESEARCH FOUNDATION AND PURDUE UNIVERSITY DE 501(c)(3 Type III-FI PURDUE RESEARCH FOUNDATION true MCCLURE PARK LLC 1281 WIN HENTSCHEL BLVD WEST LAFAYETTE IN 479064182 351078594 PROPERTY MANAGEMENT IN PURDUE RESEARCH FOUNDATION C Corporation 9418531 16465763 1 true QUANTION TECHNOLOGIES INC 1281 WIN HENTSCHEL BLVD WEST LAFAYETTE IN 479064182 452735991 BIOMEDICAL RESEARCH IN BOILERMAKER HEALTH INNOVATIONS INC C Corporation 0 0 1 true true false false true false true false false false false false false false false true false true false false McClure Park LLc D 14148673 cost MCCLURE PARK LLC A 473954 cost