2017-03-22T13:46:30-05:00 2016-06-30 381357951 PLANTE & MORAN PLLC 3434 Granite Circle Toledo OH 436171160 990 2015-07-01 346555110 THE UNIVERSITY OF TOLEDO FOUNDATION UNIV 4195307730 2801 BANCROFT MS 319 TOLEDO OH 43606 BRENDA S LEE PRESIDENT 4195307730 2017-03-21 1 TINA PETERS P00904574 4198436000 2017-03-21 2015 2021-01-29 14:40:06Z BRENDA S LEE 2801 BANCROFT MS 319 TOLEDO OH 43606 84029961 0 X WWW.UTFOUNDATION.ORG X 1964 OH IN SUPPORT OF THE UNIVERSITY OF TOLEDO AND THE STUDENTS OF THE UNIVERSITY. 26 26 59 26 -393568 -402706 13715766 14947397 2708966 2749362 19648050 9256271 1706475 1623756 37779257 28576786 14024121 14238507 0 0 3772155 4186956 0 0 2698796 1873137 2167483 19669413 20592946 18109844 7983840 290701106 281189576 17380627 19382055 273320479 261807521 X THE MISSION OF THE UNIVERSITY OF TOLEDO FOUNDATION IS TO SECURE THE FUTURE FOR THE UNIVERSITY OF TOLEDO, THROUGH PRUDENT ASSET MANAGEMENT AND PHILANTHROPY. WE BUILD STRONG LINKAGES BETWEEN ALUMNI AND THE UNIVERSITY, (SEE SCHEDULE O FOR CONTINUATION OF MISSION STATEMENT) FOSTERING A SPIRIT OF LOYALTY AND OPPORTUNITY FOR ENGAGEMENT. 0 0 3999090 3999090 0 SCHOLARSHIPS ARE PROVIDED FOR BOOKS, TUITION, AND HOUSING FOR STUDENTS ATTENDING THE UNIVERSITY OF TOLEDO. 10239417 10239417 0 SUPPORT TO THE UNIVERSITY OF TOLEDO FOR ITEMS FOR EDUCATIONAL, ATHLETIC, AND CAPITAL IMPROVEMENT PURPOSES. 373783 2877588 SUPPORT OF THE UNIVERSITY OF TOLEDO IN THEIR CHARITABLE PURPOSE. 14612290 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 0 0 1 0 0 0 1 1 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 0 1 85 1 1 59 1 1 1 0 0 0 0 1 1 0 0 0 0 X 26 26 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 OH X JOHN CUCKLER CONTROLLER 4195307730 2801 W BANCROFT MS 319 TOLEDO OH 43606 GARY LEIDICH CHAIR 1.00 0.00 X X 0 0 0 CONSTANCE ZOUHARY VICE-CHAIR 1.00 0.00 X X 0 0 0 JOHN HUBER TREASURER 1.00 0.00 X X 0 0 0 MARK LUETKE SECRETARY 1.00 0.00 X X 0 0 0 MICHAEL BELL TRUSTEE 1.00 0.00 X 0 0 0 LAVELLE EDMONDSON TRUSTEE 1.00 0.00 X 0 0 0 JONATHAN M LYONS TRUSTEE 1.00 0.00 X 0 0 0 RUSS J MITCHELL TRUSTEE 1.00 0.00 X 0 0 0 JENNIFER SCROGGS TRUSTEE 1.00 0.00 X 0 0 0 JUSTIN SKIVER TRUSTEE 1.00 1.00 X 0 0 0 ALAN BARRY TRUSTEE 1.00 0.00 X 0 0 0 JAMES BECKMAN TRUSTEE 1.00 0.00 X 0 0 0 KEVIN LENT TRUSTEE 1.00 1.00 X 0 0 0 STEVE LENNEX TRUSTEE 1.00 1.00 X 0 0 0 TERRENCE PERRIS TRUSTEE 1.00 0.00 X 0 0 0 GERRY SEIZERT TRUSTEE 1.00 0.00 X 0 0 0 PAUL L TOTH JR TRUSTEE 1.00 1.00 X 0 0 0 JAMES APPOLD TRUSTEE 1.00 0.00 X 0 0 0 NEEMA BELL TRUSTEE 1.00 0.00 X 0 0 0 DANA FITZSIMMONS TRUSTEE 1.00 0.00 X 0 0 0 PATRICK J KENNEY CPA TRUSTEE 1.00 0.00 X 0 0 0 GERALD MILLER TRUSTEE 1.00 1.00 X 0 0 0 SUSAN PALMER TRUSTEE 1.00 0.00 X 0 0 0 STEVEN REINBOLT TRUSTEE 1.00 1.00 X 0 0 0 CHRISTY CONTARDI STONE TRUSTEE 1.00 0.00 X 0 0 0 SUSAN PAYDEN TRUSTEE 1.00 0.00 X 0 0 0 BRENDA S LEE PRES-CHIEF EXECUTIVE OFFICER 35.00 5.00 X 202425 0 30562 MATTHEW SCHROEDER VP - CHIEF OPERATING OFFICER 25.00 15.00 X 121465 0 20036 JOHN CUCKLER CONTROLLER 35.00 5.00 X 111870 0 17751 DEREK GROVES VP - CHIEF OPERATING OFFICER 25.00 15.00 X 0 0 0 435760 0 68349 3 0 1 0 Grenzebach Glier & Associates Inc 401 N Michigan Ave 28 CHICAGO IL 60611 MANAGEMENT CONSULTING 131453 1 243578 14703819 2673541 14947397 ADMINISTRATIVE FEE 523930 2749362 2749362 2749362 4030115 -439791 4469906 1061702 1430255 -368553 -368553 -56162 12875 -325266 53239167 48013011 5226156 5226156 5226156 122301 61197 61104 61104 120176 53726 66450 66450 6611838 5894986 716852 33348 683504 EVENTS 900099 420696 420696 CONFERENCES 900099 164102 164102 UNIVERSITY SUPPORT INCOME 900099 97440 20286 77154 465665 465665 1147903 28576786 2877588 -393568 11145369 10239417 10239417 3999090 3999090 469864 469864 2845800 1301864 1543936 194011 88928 105083 436310 209827 226483 240971 128317 112654 14005 14005 71838 71838 507999 507999 232393 229401 2992 202139 79484 22946 99709 237280 146807 90473 107954 107954 142338 6140 136198 288242 36096 41194 210952 105242 105242 42066 42066 DUES AND SUBSCRIPTIONS 99006 14390 84616 LIFE INSURANCE 58953 58953 EQUIPMENT/SUPPLIES 31957 25507 6450 26071 14 5760 20297 20592946 14612290 3281860 2698796 1462867 1622862 19971122 20606228 917491 728218 9549586 8349321 197422 106957 17646032 2459204 14213682 15186828 188892767 161274797 55141499 73006164 354670 308201 290701106 281189576 1351647 1829903 61062 53808 10152768 9902062 5815150 7596282 17380627 19382055 X 25666498 14620713 135534290 130175901 112119691 117010907 273320479 261807521 290701106 281189576 X 7983840 -19737945 241147 X X 0 1 X 1 0 X 13833349 11992125 17808658 13715766 14947397 72297295 13833349 11992125 17808658 13715766 14947397 72297295 2118572 70178723 3751033 4245073 4582952 5308073 4569095 22456226 -356162 -55134 -204242 -261505 -402706 -1279749 887617 8010450 7589061 7744567 7507348 31739043 125212815 16629683 0.56050 0.59820 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 223834461 5693841 -9059947 3928268 2567160 213972927 219863379 6066955 5111588 4933805 2273656 223834461 186719705 8204841 30878809 3954293 1985683 219863379 165789122 3527074 23014536 3868062 1742965 186719705 165113140 7103766 -3293252 1591157 1543375 165789122 0.03600 0.41700 0.54700 0 0 9976 9976 16722904 1569865 15153039 913152 889339 23813 15186828 45885453 F CHARITABLE REMAINDER TRUSTS AND LIFE INCOME FUND 5330519 F CASH VALUE OF LIFE INSURANCE 1574501 F REAL ESTATE AND OTHER 593476 F PARTNERSHIPS 19622215 F 73006164 ANNUITIES PAYABLE 5319566 GATEWAY FUNDING FROM POOLED INVESTMENTS 2276716 7596282 X Part V, Line 4: THE ENDOWMENT FUNDS ARE TO BE USED TO PROMOTE THE CHARITABLE PURPOSES OF THE UNIVERSITY OF TOLEDO FOUNDATION. Part X, Line 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE FOUNDATION AND RECOGNIZE A TAX LIABILITY IF THE FOUNDATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION AND HAS CONCLUDED THAT AS OF JUNE 30, 2016 AND 2015, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE FOUNDATION AND CORPORATION ARE SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEAR PRIOR TO JUNE 30, 2013. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENT 39843470 0 0 0 0 0 0 39843470 0 39843470 1 0 1 0 1 0 UTMC GOLF 60443 0 60443 9630 0 2504 10572 0 370 MEDICINE BALL 28574 0 28574 0 4253 11310 29 500 2179 2 33284 0 33284 0 1000 10121 6709 1779 241 122301 122301 9630 5253 23935 17310 2279 2790 61197 61104 120176 22517 31209 0 120176 22517 31209 53726 66450 OH 0 PURSUANT TO ORC 2915.092, THE ORGANIZATION MAY CONDUCT A RAFFLE TO RAISE MONEY FOR A SUPPORTED ORGANIZATION AND DOES NOT NEED A LICENSE IN ORDER TO CONDUCT A RAFFLE DRAWING THAT IS NOT FOR PROFIT. 0 0 0 1.00000 JOHN CUCKLER CONTROLLER 2801 W BANCROFT MS 319 TOLEDO OH 43606 0 NONE 0 1 UNIVERSITY OF TOLEDO 2801 W BANCROFT MS 319 TOLEDO OH 43606 346401483 IRC sec. 115 10239417 TO SUPPORT THE UNIVERSITY OF TOLEDO IN ITS EXEMPT PURPOSE. 1 0 SCHOLARSHIPS - TUITION/BOOKS 1786 3999090 N/A N/A Part I, Line 2: THE UNIVERSITY OF TOLEDO FOUNDATION'S PRIMARY MISSION IS TO RECEIVE AND ADMINISTER PRIVATE GIFTS FOR THE BENEFIT OF THE UNIVERSITY OF TOLEDO. THE FOUNDATION PROVIDES ASSISTANCE FOR THE UNIVERSITY, STUDENT PROGRAMS AND STUDENT FINANCIAL AID. THE FOUNDATION PROVIDES FUNDING TO THE UNIVERSITY OF TOLEDO FOR UNIVERSITY AND STUDENT PROGRAMS ON A REIMBURSEMENT BASIS. UNIVERSITY DEPARTMENT OFFICIALS REQUEST FUNDS THROUGH THE COMPLETION OF THE PROPER FORMS ACCOMPANIED BY SUFFICIENT SUPPORTING DOCUMENTATION. THE FOUNDATION REVIEWS THE FORMS AND DOCUMENTATION TO ENSURE COMPLIANCE WITH DONOR RESTRICTIONS AND FOUNDATION POLICIES AND PROCEDURES. ALL DISBURSEMENTS ARE THEN APPROVED BY THE PRESIDENT OR VICE PRESIDENT OF FINANCE AND OPERATIONS. THE FOUNDATION ISSUES ASSISTANCE (GRANTS) TO CERTAIN STUDENTS OF THE UNIVERSITY OF TOLEDO FOR SCHOLARSHIPS AND STUDENT AID. THE STUDENTS ARE AWARDED THESE GRANTS THROUGH THE UNIVERSITY OF TOLEDO FINANCIAL AID DEPARTMENT. THE UNIVERSITY OF TOLEDO FOUNDATION RECEIVES A LISTING OF ALL RECIPIENTS OF THE AWARDS AT THE END OF EACH SEMESTER FROM THE BURSAR OFFICE. THE RECIPIENT INFORMATION IS RECORDED AND RECONCILED IN THE FOUNDATION'S FILES. FUNDS ARE DISBURSED TO THE UNIVERSITY ON A REIMBURSEMENT BASIS AT THE END OF EACH SEMESTER. X X X X 0 0 0 0 0 0 0 0 0 BRENDA S LEE PRES-CHIEF EXECUTIVE OFFICER 202425 0 0 0 0 0 15639 0 14923 0 232987 0 0 0 X 81 1661546 SELLING PRICE X SPECIAL EQUIPMENT 53 1011995 FAIR MARKET VALUE 0 1 0 Part I, Column (b): FOR DONATIONS OF MARKETABLE SECURITIES, THE NUMBER REPRESENTS THE NUMBER OF CONTRIBUTIONS. FOR DONATIONS OF SPECIAL EQUIPMENT, THE NUMBER REPRESENTS THE ITEMS CONTRIBUTED. Form 990, Part VI, Section A, line 6 PER THE CODE OF REGULATIONS, THE TRUSTEES OF THE FOUNDATION CONSTITUTE BOTH ITS MEMBERSHIP AND ITS GOVERNING BODY. Form 990, Part VI, Section A, line 7a PER THE CODE OF REGULATIONS, THE ELECTION OF TRUSTEES SHALL BE HELD AT THE ANNUAL OR SPECIAL MEETING OF THE MEMBERS. THE MEMBERS ALSO ELECT A COMMITTEE ON TRUSTEES WHICH DETERMINES THE MOST EFFECTIVE COMPOSITION OF THE BOARD IN SUPPORT OF THE STRATEGIES OF THE FOUNDATION. THE COMMITTEE OF TRUSTEES SHALL HAVE THE SOLE CAPACITY AND RESPONSIBILITY FOR NOMINATING TRUSTEES TO BE ELECTED AT THE NEXT ANNUAL MEETING. THE COMMITTEE SHALL CONSIST OF NOT LESS THAN FOUR (4) MEMBERS OF THE FOUNDATION. Form 990, Part VI, Section B, line 11 MANAGEMENT PRESENTS THE BOARD OF TRUSTEES - AUDIT COMMITTEE WITH THE FINAL DRAFT FORM 990 ALONG WITH A LIST OF MANAGEMENT ASSERTIONS REGARDING THE COMPLETENESS AND ACCURACY OF THE FORM AND THE EXISTENCE OF THE POLICIES AND PROCEDURES DOCUMENTED IN FORM 990. THE AUDIT COMMITTEE IS CHARGED TO PROVIDE THE REVIEW AND APPROVAL FUNCTION OF FORM 990 FOR THE BOARD OF TRUSTEES. THE FINAL APPROVED FORM 990 IS PROVIDED TO ALL MEMBERS OF THE BOARD OF TRUSTEES FOR COMMENT BEFORE FILING. Form 990, Part VI, Section B, line 12c ON AN ANNUAL BASIS, THE MEMBERS OF THE BOARD OF TRUSTEES FOR THE UNIVERSITY OF TOLEDO FOUNDATION ARE REQUIRED TO COMPLETE TRUSTEE DISCLOSURE STATEMENTS WHICH AFFIRMS EACH MEMBER RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY, AND AGREES TO COMPLY WITH THE POLICY. TRUSTEES ARE REQUIRED TO DISCLOSE ANY FAMILY AND BUSINESS RELATIONSHIPS, FINANCIAL INTEREST, AND THE STATUS OF THEIR INDEPENDENCE. TRUSTEES ARE ALSO REQUESTED BY THE BOARD OR COMMITTEE CHAIR TO DISCLOSE ANY ACTUAL OR POSSIBLE CONFLICTS BEFORE VOTING ON MATTERS RELATED TO AWARDING BUSINESS WITH THE FOUNDATION. ALL DISCLOSURE STATEMENTS ARE REVIEWED BY THE COMMITTEE OF TRUSTEES AND MAINTAINED BY THE PRESIDENT OF THE FOUNDATION TO DETERMINE EXISTENCE OF A CONFLICT. ANY DISCLOSED OR IDENTIFIED ACTUAL OR POSSIBLE CONFLICTS ARE DISCUSSED WITH THE CHAIR OF THE BOARD OF TRUSTEES AND MAY BE PRESENTED TO THE EXECUTIVE COMMITTEE FOR DISCUSSION AND RESOLUTION. ANY FINANCIAL INTERESTS DISCLOSED PRIOR TO ACTION BEING TAKEN AT A MEETING SHALL BE DISCUSSED WITH THE INTERESTED PERSON. THE REMAINING TRUSTEES OR COMMITTEE MEMBERS SHALL DETERMINE IF A CONFLICT EXISTS BY VOTE, AND THE RESULTS WILL BE RECORDED IN THE MINUTES. THE CHAIR OR COMMITTEE MAY APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE ARRANGEMENT IN QUESTION. THE BOARD OR COMMITTEE WILL EXERCISE DUE DILIGENCE AND DETERMINE IF MORE ADVANTAGEOUS ARRANGEMENTS CAN BE REASONABLY MADE THAT WOULD NOT BE A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS OPTION IS NOT REASONABLY ATTAINABLE, THE BOARD OR COMMITTEE WILL DETERMINE BY MAJORITY VOTE IF THE ARRANGEMENT IN QUESTION IS IN THE BEST INTEREST OF THE FOUNDATION AND IF IT IS FAIR AND REASONABLE. MEMBERS THAT FAIL TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST WILL BE AFFORDED THE OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. THE BOARD OR COMMITTEE MAY CONDUCT FURTHER INVESTIGATION IF WARRANTED. THE BOARD OR COMMITTEE WILL THEN DETERMINE WHETHER A FAILURE TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST RESULTS IN DISCIPLINARY AND CORRECTIVE ACTION. Form 990, Part VI, Section B, line 15 ANNUALLY, THE ORGANIZATION AND COMPENSATION COMMITTEE OF THE UTF BOARD OF DIRECTORS ("COMMITTEE") WILL REVIEW THE COMPONENTS OF THE COMPENSATION PROGRAM AND RECOMMEND PROGRAM MODIFICATIONS AS APPROPRIATE TO THE EXECUTIVE COMMITTEE OF UTF. EVERY THREE TO FIVE YEARS, THE COMMITTEE WILL ENGAGE A PROFESSIONAL SERVICE FIRM TO PERFORM A COMPLETE REVIEW OF THE TOTAL COMPENSATION STRUCTURE TO ENSURE THAT IT IS COMPETITIVE. THE COMMITTEE CONSIDERS ALL APPLICABLE FACTORS WHEN DETERMINING MARKET COMPARATORS, INCLUDING A NATIONAL, REGIONAL AND/OR LOCAL PEER GROUP OF ORGANIZATIONS COMPARABLE TO UTF IN SIZE (I.E., NET REVENUES, FTES, BUDGET AND ASSETS UNDER MANAGEMENT) AND COMPLEXITY TO DETERMINE THE MARKET VALUES FOR POSITIONS. THE EXECUTIVE COMMITTEE IS AUTHORIZED TO ACT ON THE BOARD'S BEHALF IN (I) DETERMINING APPROPRIATE COMPENSATION FOR UTF'S EXECUTIVES AND OTHER DISQUALIFIED PERSONS; (II) EVALUATING EXECUTIVES AND OTHER DISQUALIFIED PERSONS' COMPENSATION PLANS, POLICIES, AND PROGRAMS; (III) REVIEWING BENEFIT PLANS FOR EXECUTIVES AND OTHER DISQUALIFIED PERSONS; AND (IV) VERIFYING THAT COMPENSATION INFORMATION IS APPROPRIATELY AND FULLY DISCLOSED. THE EXECUTIVE COMMITTEE IS MADE UP OF INDEPENDENT PERSONS AND ALL DISCUSSIONS AND ACTIONS OF THE COMMITTEE ARE DOCUMENTED IN MINUTES OR OTHER RECORDS OF THE COMMITTEE. A REVIEW OF ALL POSITION SALARY RANGES WAS CONDUCTED IN DECEMBER OF 2015 BASED ON INDUSTRY INFORMATION AND SURVEYS BY INDEPENDENT SOURCES IN CONJUNCTION WITH INDIVIDUAL GOALS AND OBJECTIVES. Form 990, Part VI, Section C, line 19 THE UNIVERSITY OF TOLEDO FOUNDATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. Form 990, Part XI, line 9: CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE 33,854. CAPITAL TRANSFER 207,293. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED ITS PROCESS FROM THE PRIOR YEAR. UTF GATEWAY INVESTMENTS LLC 2801 W BANCROFT ST MSC 319 TOLEDO OH 43606 451199001 OWNERSHIP AND MANAGEMENT OF UNIVERSITY OF TOLEDO GATEWAY OH 1513488 15292414 UNIVERSITY OF TOLEDO FOUNDATION THE UNIVERSITY OF TOLEDO REAL ESTATE CORP 2801 W BANCROFT MS 319 TOLEDO OH 43606 300023422 ACQUIRES AND HOLDS TITLE TO REAL PROPERTY FOR THE BENEFIT OF THE UNIVERSITY OH IRC SEC. 501(C)(25) N/A THE UNIVERSITY OF TOLEDO FOUNDATION 1 0 0 0 1 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 THE UNIVERSITY OF TOLEDO REAL ESTATE CORP D 8349321 ACTUAL COSTS INCURRED