2016-11-15T08:49:21-06:00 2016-06-30 KPMG LLP 60 South Street Boston MA 02111 990 2015-07-01 451556038 UNIVERSITY OF VERMONT AND STATE AGRICULTURAL COLLEGE FOUNDATION INC % MARK METIVIER UNIV 8026568600 411 MAIN STREET BURLINGTON VT 05401 MARK METIVIER Interim VP & CFO 8026568600 2016-11-15 true SHY JOSEPH P01085371 6179881000 2015 2017-02-10 21:41:12Z O RICHARD BUNDY III PRESCEO 411 MAIN STREET BURLINGTON VT 05401 72001865 false X WWW.UVMFOUNDATION.ORG X 2011 VT THE MISSION OF THE UVM FOUNDATION IS TO SECURE AND MANAGE PRIVATE SUPPORT FOR THE BENEFIT OF THE UNIVERSITY OF VERMONT. 26 25 158 6114 0 32108377 56422005 9887832 9870731 70686 758662 45807 6653 42112702 67058051 17760638 16569375 0 0 7809711 7800518 563893 677713 8023409 2895561 2897846 29029803 27945452 13082899 39112599 80188442 119572158 13471679 14459800 66716763 105112358 THE MISSION OF THE UVM FOUNDATION IS TO SECURE AND MANAGE PRIVATE SUPPORT FOR THE BENEFIT OF THE UNIVERSITY OF VERMONT. false false 16569375 16569375 9450387 THE FOUNDATION'S PRIMARY FUNCTION IS TO RAISE, RECEIVE, AND MANAGE FUNDS FOR SCHOLARSHIPS, PROFESSORSHIPS, AND FACILITIES AND OTHER SUPPORT FOR THE BENEFIT OF THE UNIVERSITY OF VERMONT AND STATE AGRICULTURAL COLLEGE AND BY OTHERWISE PERFORMING SUPPORT FUNCTIONS THAT CARRY OUT ITS CHARITABLE, SCIENTIFIC, EDUCATIONAL, OR OTHER EXEMPT PURPOSES. 1690368 420344 ALUMNI ARE OFFERED OPPORTUNITIES TO ATTEND SOCIAL AND EDUCATIONAL EVENTS FOR AN ADMISSION FEE THAT COVERS, AT THE MOST, DIRECT EXPENSES, BUT NEVER COVERS ALL EXPENSES. EVENTS INCLUDE ALUMNI REUNIONS, HOMECOMINGS, BASEBALL GAMES, TENNIS MATCHES, DANCES, ETC. 18259743 true true false false false false false false false true true true false false true true true false false false false false false true false false false true false true false false false false false false false false true true false false true true true false false true 43 0 true 158 true false false false false false true true false false false false X 26 25 false false true false false false false true true false false true true true true true true true true false AK CA KY MD MA MI MN NH NJ NY OK OR SC UT WI X X MARK METIVIER 8026568600 411 MAIN STREET BURLINGTON VT 05401 RICHARD ADER DIRECTOR 1.0 0.0 X 0 0 0 MAX ANSBACHER DIRECTOR 1.0 0.0 X 0 0 0 ROBERT P BRENNAN JR DIRECTOR 1.0 0.0 X 0 0 0 O RICHARD BUNDY III DIRECTOR/EX OFFICIO/FOUND PRES 43.0 0.0 X X 303593 0 37078 DANIEL A BURACK DIRECTOR 1.0 0.0 X 0 0 0 BROOKS J BUXTON DIRECTOR 1.0 0.0 X 0 0 0 MICHELE RESNICK COHEN DIRECTOR 1.0 0.0 X 0 0 0 STEVEN GROSSMAN DIRECTOR 1.0 0.0 X 0 0 0 ZACHARY GUND DIRECTOR 1.0 0.0 X 0 0 0 MEG GUZEWICZ DIRECTOR 1.0 0.0 X 0 0 0 DAVID HASS DIRECTOR 1.0 0.0 X 0 0 0 JOHN A HILTON JR DIRECTOR/CHAIR 3.0 0.0 X 0 0 0 STEVE N IFSHIN DIRECTOR 1.0 0.0 X 0 0 0 EUGENE W KALKIN DIRECTOR/FND CHAIR EMERITUS 1.0 0.0 X 0 0 0 JAMES R KELLER DIRECTOR/VICE CHAIR 2.0 0.0 X 0 0 0 DEB MCANENY END 22916 DIRECTOR/EX OFFICIO/UNIV CHAIR 1.0 0.0 X 0 0 0 DONALD H MCCREE III DIRECTOR/TREASURER 2.0 0.0 X 0 0 0 PAMELA GILLMAN MCDERMOTT DIRECTOR 1.0 0.0 X 0 0 0 KAREN NYSTROM MEYER DIRECTOR 1.0 0.0 X 0 0 0 KRISTINA PISANELLI END 5216 DIRECTOR/EX OFFICIO 2.0 0.0 X 0 0 0 MILDRED A REARDON DIRECTOR 1.0 0.0 X 0 0 0 DIANE L SEDER DIRECTOR/SECRETARY 2.0 0.0 X 0 0 0 SCOTT S SEGAL DIRECTOR 1.0 0.0 X 0 0 0 WILLIAM G SHEAN DIRECTOR 1.0 0.0 X 0 0 0 E THOMAS SULLIVAN DIRECT/EX OFFICIO/PRES UVM 2.0 0.0 X 0 0 0 BRIAN BOARDMAN BEGAN 121615 DIRECTOR/EX OFFICIO 1.0 0.0 X 0 0 0 DAVID DAIGLE BEGAN 3116 DIRECTOR/EX OFFICIO 1.0 0.0 X 0 0 0 PENROSE JACKSON BEGAN 5116 DIRECTOR/EX OFFICIO 2.0 0.0 X 0 0 0 KATHARINE LAUD LEFT 33116 VP FOR FINANCE AND ADMIN 40.0 0.0 X 143691 0 37766 MARK METIVIER ASSIS VP AND CONTROLLER 40.0 0.0 X 106663 0 22118 KATHLEEN KELLEHER VP FOR PRINCIPAL GIFTS 40.0 0.0 X 213509 0 31814 ALAN RYEA VP FOR ALUMNI RELATIONS 40.0 0.0 X 162008 0 40441 MARK DORGAN VP FOR DEVELOPMENT 40.0 0.0 X 226488 0 42426 KATHY DESJARDINS AVP FOR ADVANCEMENT SERVICES 40.0 0.0 X 123256 0 31430 SCOTT DANIS DIRECTOR OF INFO SYSTEMS 40.0 0.0 X 105859 0 12807 JOAN COOK LEFT 41516 SENIOR DIR OF MAJOR GIFTS 40.0 0.0 X 104550 0 12337 RICHARD GREEN LEFT 10915 ED OF COMMUNICATIONS 40.0 0.0 X 100417 0 11763 1590034 0 279980 10 false true false SNAVELY ASSOCIATES LTD PO BOX 1139 STATE COLLEGE PA 16804 CMPG COMMUNICATIONS 307209 PW FEATS INC 3 EAST READ STREET BALTIMORE MD 21202 CMPG COMMUNICATIONS 287613 THE UNIVERSITY OF VERMONT MEDICAL C PO BOX 1902 BURLINGTON VT 05402 LEASED EMPLOYEE 237967 MARKETING COMMUNICATION RESOURCE I 4800 EAST 345TH STREET WILLOUGHBY OH 44094 PRINTING/MAIL SVCS. 137075 4 56422005 31785171 56422005 SERVICE AGREEMENT - UNIVERSITY SUPPORT 900099 9450387 9450387 ALUMNI EVENTS 900099 420344 420344 9870731 762414 762414 0 7927 7927 0 0 0 4931035 4934787 -3752 -3752 -3752 7753 9027 -1274 -1274 0 0 0 67058051 9870731 765315 16569375 16569375 0 0 0 1367848 285171 348129 734548 0 4709200 498168 567583 3643449 426838 45819 53974 327045 847423 137651 96444 613328 449209 58203 63102 327904 91933 90151 1782 78341 27182 51159 55300 55300 0 677713 677713 4840 4840 0 66501 37865 4959 23677 1054500 172878 106762 774860 203821 18881 58657 126283 0 150181 55696 17516 76969 424515 47156 56651 320708 0 676416 326742 39967 309707 0 0 25959 5192 6490 14277 64593 64593 Miscellaneous Expenses 946 946 27945452 18259743 1662300 8023409 585944 436142 40980259 11932236 4350489 4130439 199778 351182 0 0 0 0 0 0 0 0 501529 355762 24287459 73917 1006080 24213542 398148 624372 32166215 77528483 0 0 0 0 0 0 80188442 119572158 13400384 9842726 0 0 45432 52284 0 0 0 0 0 0 0 3000000 0 0 25863 1564790 13471679 14459800 X 6491924 5664379 35641084 39012381 24583755 60435598 66716763 105112358 80188442 119572158 X 39112599 -484912 -232092 X false true X true false X 16956250 38033582 12078661 32060127 56422005 155550625 0 0 16956250 38033582 12078661 32060127 56422005 155550625 25983196 129567429 30579 139476 119815 174345 770341 1234556 0 2213 -2570 3172 -1274 1541 156786722 43380878 0.82639 0.92720 X SCHEDULE A, PART II THE INFORMATION FOR THE FOUNDATION'S CALENDER YEAR 2012 IS REPORTED IN COLUMN (A). THE INFORMATION FOR THE FOUNDATION'S CALENDER YEAR 2013 IS REPORTED IN COLUMN (B). THE INFORMATION FOR THE FOUNDATION'S SHORT - YEAR BEGINNING 1/1/2014 AND ENDING 6/3/2014 IS REPORTED IN COLUMN (C). THE INFORMATION FOR THE FOUNDATION'S FISCAL YEAR (7/1/2014 - 6/30/2015) IS REPORTED IN COLUMN (D) AND THE INFORMATION FOR THE FOUNDATION'S FISCAL YEAR (7/1/2015 - 6/30/2016) IS REPORTED IN COLUMN (E). RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 33500789 37260950 158808 494654 1277805 420011 68728077 29700427 4770342 484293 350655 948353 155265 33500789 23688783 5277795 1410764 92054 350162 234699 29700427 1971415 20254472 2106407 88364 295474 259673 23688783 199500 1784954 87047 7895 2943 89248 1971415 0.03889 0.86879 0.09232 true true true 18100000 0 18100000 6072938 6072938 60401 19797 40604 54120 54120 0 24213542 INVESTMENTS IN UVM POOL 35821618 F INVESTMENT APPR - UVM POOL 3358129 F DERIVATIVES 34780 F DERIVATIVES APPRECIATION -32227 F BENEFICIAL INT HELD BY OTHERS 1138134 F CERTIFICATE OF DEPOSIT 28508049 C PARTNERSHIPS 8700000 F 77528483 0 GIFTS TO BE RECEIPTED BY UVM 2500 GIFTS PENDING PROCESSING 1562290 1564790 X 66573539 -484912 400 -484512 67058051 67058051 28178269 232817 232817 27945452 27945452 PART V, LINE 4 THE FOUNDATIONS ENDOWMENT IS A COLLECTION OF DONOR-CREATED ENDOWMENTS AND BOARD DESIGNATED ENDOWMENTS, DESIGNATED TO BENEFIT THE UNIVERSITY OF VERMONT. SCHEDULE D, PART X, LINE 2 UVM FOUNDATION GENERALLY DOES NOT PROVIDE FOR INCOME TAXES BECAUSE IT IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)3 OF THE INTERNAL REVENUE CODE. ASC 740, INCOME TAXES, PERMITS AN ENTITY TO RECOGNIZE THE BENEFIT AND REQUIRES ACCRUAL OF AN UNCERTAIN TAX POSITION ONLY WHEN THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED IN THE EVENT OF EXAMINATION BY TAX AUTHORITIES. IN EVALUATING WHETHER A TAX POSITION HAS MET THE RECOGNITION THRESHOLD, UVM FOUNDATION MUST PRESUME THAT THE POSITION WILL BE EXAMINED BY THE APPROPRIATE TAXING AUTHORITY THAT HAS FULL KNOWLEDGE OF ALL RELEVANT INFORMATION. ASC 740 ALSO PROVIDES GUIDANCE ON THE RECOGNITION, MEASUREMENT, AND CLASSIFICATION OF INCOME TAX UNCERTAINTIES, ALONG WITH ANY RELATED INTEREST OR PENALTIES. TAX POSITIONS DEEMED TO MEET THE MORE LIKELY THAN NOT THRESHOLD ARE RECORDED AS A TAX EXPENSE IN THE CURRENT YEAR. UVM FOUNDATION HAS ANALYZED ALL OPEN TAX YEARS, DEFINED BY THE STATUTES OF LIMITATIONS FOR ALL MAJOR JURISDICTIONS. OPEN TAX YEARS ARE THOSE THAT ARE OPEN FOR EXAM BY TAXING AUTHORITIES. MAJOR JURISDICTIONS FOR UVM FOUNDATION INCLUDE FEDERAL AND THE STATE OF VERMONT. AS OF JUNE 30, 2016, OPEN FEDERAL AND VERMONT TAX YEARS FOR UVM FOUNDATION INCLUDE TAX YEARS ENDED DECEMBER 31, 2012, DECEMBER 31, 2013, FOR THE PERIOD FROM JANUARY 1, 2014 - JUNE 30, 2014, AND FOR THE YEAR ENDED JUNE 30, 2015. UVM FOUNDATION HAS NO EXAMINATIONS IN PROGRESS. UVM FOUNDATION BELIEVES THAT IT HAS NO SIGNIFICANT UNCERTAIN TAX POSITIONS. PART XI, LINE 2D RECLASS OF FUNDRAISING EVENT EXPENSES $ 400 ------- TOTAL $ 400 ======= PART XII, LINE 2D Uncollectible Pledges $ 232,416 RECLASS OF FUNDRAISING EVENT EXPENSES 400 ROUNDING 1 ------- TOTAL $ 232,817 ======= X X X X true SNAVELY ASSOCIATES LTD CAMPAIGN CO MMUNICATION false 307209 PW FEATS INC ASSOCIATES INC CAMPAIGN CO MMUNICATION false 287613 GRENZEBACH GLIER ASSOCIATES INC CONSULTING false 82891 677713 AK CA CO KY ME MD MA MI MN NH NJ NY ND OH OK OR SC UT WA WI PART I, LINE 2B, COLUMN (III) AND (V) GRENZEBACH & GLIER PROVIDES STRATEGIC FUNDRAISING CONSULTING SERVICES TO ASSIST OUR INTERNAL STAFF IN ITS FUNDRAISING PROPOSALS. SNAVELY ASSOCIATES LTD PROVIDES CAMPAIGN COMMUNICATION CONSULTING SERVICES TO AID IN THE PREPARATION OF ANNOUNCING THE PUBLIC PHASE OF THE FOUNDATION'S FUNDRAISING CAMPAIGN. P.W. FEATS PROVIDES CAMPAIGN COMMUNICATIONS CONSULTING SERVICES TO AID IN THE PREPARATION OF LAUNCHING THE CAMPAIGN KICKOFF EVENT OF THE FOUNDATION'S FUNDRAISING CAMPAIGN. true UNIVERSITY OF VT & STATE AGRI COLLEGE 85 SO PROSPECT STREET BURLINGTON VT 05401 030179440 501(C)(3) 15856653 FMV SEE PART IV SEE PART IV SEE PART IV SEE PART IV UNIVERSITY OF VT & STATE AGRI COLLEGE 85 SO PROSPECT STREET BURLINGTON VT 05401 030179440 501(C)(3) 242722 FMV SEE PART IV SEE PART IV HILLEL AT THE UNIVERSITY OF VT 80 COLCHESTER AVENUE UNIVERSITY OF VERMONT CAMPUS BURLINGTON VT 05405 810554021 501(C)(3) 470000 FMV SEE PART IV SEE PART IV 2 PART I, LINE 2 THE FOUNDATION OPERATES ON A REIMBURSABLE BASIS AND REQUIRES A REPORT OF EXPENSES ON A QUARTERLY BASIS FOR REVIEW BY THE CONTROLLER FOR APPROPRIATENESS PRIOR TO DISTRIBUTION OF FUNDS. PART II, LINE 2G NONCASH ASSISTANCE INCLUDES CONTRIBUTIONS OF VARIOUS SMALL GIFTS OF GIFT CERTIFICATES, FOOD, PAINTINGS, BOOKS, LAB BENCHES, HORSE EQUIPMENT ETC. PART II, LINE 1H PURPOSES OF THE GRANTS AND ASSISTANCE INCLUDE: UNIVERSITY EDUCATIONAL DEPARTMENT USE; SCHOLARSHIPS, FELLOWSHIPS, AND AWARDS; PROFESSORSHIPS, RESEARCH, AND FACULTY SUPPORT; CAPITAL CONSTRUCTION; AND, OTHER ACADEMIC AND STUDENT SUPPORT. PART II, LINE 3H THE PURPOSE OF THE GRANTS AND ASSISTANCE IS TO PROVIDE PROGRAMMING AND SERVICES TO ENRICH THE LIVES OF THE UNIVERSITY COMMUNITY AT LARGE INCLUDING BUT NOT LIMITED TO JEWISH UNDERGRADUATE AND GRADUATE STUDENTS. X true true X X true false false false false false false false false O RICHARD BUNDY III DIRECTOR/EX OFFICIO/FOUND PRES 303593 0 0 0 0 0 29000 0 8078 0 340671 0 0 0 KATHARINE LAUD LEFT 33116 VP FOR FINANCE AND ADMIN 106441 0 0 0 37250 0 14900 0 22866 0 181457 0 0 0 KATHLEEN KELLEHER VP FOR PRINCIPAL GIFTS 213509 0 0 0 0 0 23800 0 8014 0 245323 0 0 0 ALAN RYEA VP FOR ALUMNI RELATIONS 145541 0 0 0 16467 0 17575 0 22866 0 202449 0 0 0 KATHY DESJARDINS AVP FOR ADVANCEMENT SERVICES 123256 0 0 0 0 0 15200 0 16230 0 154686 0 0 0 MARK DORGAN VP FOR DEVELOPMENT 226488 0 0 0 0 0 22000 0 20426 0 268914 0 0 0 PART I, LINE 1A THE FOUNDATION HAS A POLICY THAT ALLOWS A SPOUSE OR PARTNER TO ACCOMPANY ON A FOUNDATION TRIP FOR BONAFIDE BUSINESS REASONS WITH PRIOR APPROVAL FROM A SUPERVISOR. ONE DIRECTOR HAD HIS SPOUSE ACCOMPANY HIM FOR BONAFIED BUSINESS REASONS. THE FOUNDATIONS POLICY ALSO ALLOWS A SPOUSE OR PARTNER TO TRAVEL WITH THE FOUNDATION REPRESENTATIVE FOR PERSONAL REASONS AT THE EXPENSE OF THE SPOUSE OR PARTNER. THIS TYPE OF TRAVEL MUST HAVE PRIOR APPROVAL OF THE SUPERVISOR. ONE KEY EMPLOYEE HAD HER SPOUSE TRAVEL WITH HER AT THEIR OWN EXPENSE. PART I, LINE 3 THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS IS CHARGED WITH SERVING AS THE COMPENSATION COMMITTEE PER THE BY-LAWS OF THE FOUNDATION. THE COMPENSATION COMMITTEE HAS THE ULTIMATE DECISION OF ENTERING INTO AN EMPLOYMENT CONTRACT. PART I, LINE 4A During the tax year, Katharine Laud received $46,949 of severance compensation, $37,250 of which is reported in Part II, Column (B)(iii), and $9,699 of which is reported in Part II, Column (D). X 7 32088 FMV X 168560 FMV X 400 FMV X 163 4894426 FMV X 1 8700000 FMV X 1 17900000 FMV X BOARD MEMBER TRAVEL 24 35335 FMV X ANIMALS 29 8627 FMV X EVENT EXPENSES 2 2741 FMV X FOOD 3 891 FMV X GIFT CARDS 24 3201 FMV X HORSE EQUIPMENT 5 17327 FMV X SMALL EQUIPMENT 3 21078 FMV X TICKETS 5 497 FMV 1 false true true PART I, LINE 32A THE UVM FOUNDATION USES SERVICES OF A REALTOR TO SELL PIECES OF DONATED REAL ESTATE. PART VI, SECTION A, QUESTION 4 THE BOARD OF DIRECTORS APPROVED AMENDING THE BYLAWS TO INCREASE THE NUMBER OF BOARD OF DIRECTORS FROM 25 TO 29 MEMBERS BY ADDING THE CHAIR OF THE UVM MEDICAL CENTER FOUNDATION AS AN EX OFFICIO DIRECTOR OF THE FOUNDATION. THE BOARD APPROVED AN AMENDMENT TO THE WHISTLEBLOWER POLICY ADDING AN INDEPENDENT PARTY REPORTING MECHANISM REQUIREMENT. PART VI, SECTION B, QUESTION 11B THE FORM 990 HAS BEEN REVIEWED BY THE OFFICERS OF THE FOUNDATION AND A COMPLETE COPY OF THE FEDERAL 990 HAS BEEN PROVIDED TO EACH MEMBER OF THE BOARD OF DIRECTORS BEFORE FILING WITH THE INTERNAL REVENUE SERVICE. PART VI, SECTION B, QUESTION 12C THE BOARD OF DIRECTORS APPROVED A CONFLICT OF INTEREST POLICY AND THE OVERVIEW ADDRESSES THE QUESTIONS IN PART VI: THE GOALS OF THE POLICY ARE TO IDENTIFY WHEN AND HOW CONFLICTS MAY ARISE, PROMOTE A PROCESS FOR EACH DIRECTOR TO DISCLOSE CONFLICTS, AND ELABORATE HOW THE BOARD CAN MANAGE CONFLICTS OF INTEREST. THERE IS NOTHING INHERENTLY WRONG WITH A CONFLICT SO LONG AS THE CONFLICT IS DISCLOSED AND MANAGED APPROPRIATELY. - A CONFLICT EXISTS WHEN THERE IS AN APPARENT OR ACTUAL DIVERGENCE BETWEEN A DIRECTOR'S PRIVATE INTERESTS AND HIS/HER FIDUCIARY DUTY. THIS INCLUDES TIMES WHEN RELEVANT MATERIAL FACTS AFFECT A DIRECTOR, A MEMBER OF HIS/HER FAMILY, OR AN AFFILIATE. - IT IS NOT A CONFLICT TO SERVE IN LEADERSHIP CAPACITIES FOR OTHER NONPROFIT ORGANIZATIONS, UNIVERSITY/COLLEGE FOUNDATIONS, OR INSTITUTIONS OF HIGHER EDUCATION. - IT IS NOT POSSIBLE FOR OUR POLICY TO INCLUDE AN ALL-INCLUSIVE LIST OF SITUATIONS GIVING RISE TO A CONFLICT OF INTEREST. THE POLICY DOES GIVE EXAMPLES OF SITUATIONS PRESENTING POTENTIAL, ACTUAL OR APPARENT CONFLICTS: O COMMERCIAL TRANSACTIONS BETWEEN DIRECTOR AND THE FOUNDATION O CONFIDENTIAL, PROPRIETARY OR PRIVILEGED INFORMATION NOT TO BE SHARED WITH THE PUBLIC O DIVERTING BUSINESS OPPORTUNITIES AWAY FROM THE FOUNDATION FOR PRIVATE GAIN O DIRECTORS CANNOT HIRE, SUPERVISE OR EVALUATE IMMEDIATE FAMILY MEMBERS OR AFFILIATES O DIRECTORS SHALL NOT ACCEPT COMPENSATION, GIFTS OR OTHER ITEMS IN EXCHANGE FOR INFLUENCING FOUNDATION OPERATIONS AND ACTIVITIES O DIRECTORS CAN ACCEPT FROM THE FOUNDATION MODEST VALUE GIFTS OR OTHER ITEMS IN CONNECTION WITH BUSINESS AND SERVICE ON THE BOARD OF DIRECTORS O DIRECTORS CAN EMPLOY FOUNDATION ADMINISTRATION FOR PRIVATE CONSULTING WITH PRIOR APPROVAL - UVM TRUSTEES AND EMPLOYEES WHO SERVE AS DIRECTORS ARE SUBJECT TO THE POLICY. THEY ARE NOT AUTOMATICALLY DISQUALIFIED FROM PARTICIPATING IN FOUNDATION BOARD DISCUSSIONS AND BUSINESS. RARE OCCASIONS MAY EXIST WHEN THEY WILL BE DISQUALIFIED FROM VOTING ON SPECIFIC MATTERS. - PROTOCOL O DIRECTORS ANNUALLY FILE CONFLICTS DISCLOSURE FORM BY MAY 30 O PRIOR TO COMMITTEE OR FULL BOARD MEETINGS, CONFLICTS MUST BE DISCLOSED AND MANAGED. THEY WILL BE EVALUATED BY PRESIDENT & CEO, COMMITTEE/BOARD CHAIR, AND THE AUDIT COMMITTEE. O DEPENDING UPON THE CONFLICT, DIRECTOR MAY OR MAY NOT BE ABLE PARTICIPATE IN THE DISCUSSION AND/OR VOTE ON AGENDA ITEM RELATED TO CONFLICT. O IF NECESSARY, WE CAN REQUEST THE OPINION OF FOUNDATION LEGAL COUNSEL. PART VI, SECTION B, QUESTIONS 15A AND 15B THE EXECUTIVE COMMITTEE SHALL ALSO SERVE AS THE COMPENSATION COMMITTEE, CHARGED WITH PERIODICALLY AND NO LESS THAN ONCE ANNUALLY REVIEWING AND APPROVING, FOLLOWING RECOMMENDATIONS FROM THE PRESIDENT AND CHIEF EXECUTIVE OFFICER, THE COMPENSATION AND BENEFITS THE FOUNDATION WILL PROVIDE TO ITS CORPORATE OFFICERS (WITH THE PRESIDENT AND CHIEF EXECUTIVE OFFICER RECUSING HIM OR HERSELF WITH RESPECT TO ANY DELIBERATIONS OR DECISIONS REGARDING HIS OR HER COMPENSATION). THE BOARD OF DIRECTORS HAS DELEGATED THE HIRING DECISION FOR ALL NON-OFFICERS TO THE PRESIDENT AND CHIEF EXECUTIVE OFFICER. PART VI, SECTION C, QUESTION 19 THE UVM FOUNDATION MAINTAINS A DOCUMENT LIBRARY ON ITS WEBSITE FOR THE PUBLIC TO VIEW GOVERNANCE & POLICIES, GIVING FORMS, FINANCIAL REPORTS, MEETING AGENDAS, AND MEETING MINUTES. WWW.UVMFOUNDATION.ORG PART XI, LINE 9 Uncollectible Pledges $ (232,416) FUNDS TRANSFERED FROM UNIVERSITY OF VERMONT TO THE FOUNDATION 325 Rounding ( 1) --------- $ (232,092) ========= UVMF HOLDINGS LLC 411 MAIN STREET BURLINGTON VT 05401 300877053 INVEST HOLD VT 600967 27158213 UVM FOUNDATI UVM FOUNDATION RETIREE HEALTH PLAN TRUST 411 MAIN STREET BURLINGTON VT 05401 320443476 HEALTH BENEFI VT 501(C)(9) UVM FOUNDATI true false false false false false false false false false false false false false false false false false false false PART VII THE FOUNDATION USUALLY MAKES A TRANSFER OF CASH TO THE UVM FOUNDATION RETIREE HEALTH PLAN TRUST TWICE A MONTH FOR EMPLOYEE HEALTH BENEFITS. THIS YEAR A LARGE BALANCE OF FORFEITED ASSETS WERE AVAILABLE DUE TO FORMER EMPLOYEES NOT FULLY VESTED AT TIME OF DEPARTURE. THIS YEAR THE FORFEITED ASSET WAS USED TO FUND THE EMPLOYER CONTRIBUTIONS.