2016-05-16T17:05:02-05:00 2015-06-30 350921680 CROWE HORWATH LLP 9600 Brownsboro Road Suite 400 Louisville KY 402411122 990 2014-07-01 611131682 Eastern Kentucky University Foundation Inc EAST 8596225012 521 Lancaster Ave CPO 15A Richmond KY 40475 Barry Poynter VP EKU 2016-05-16 true Rachel Spurlock P00520729 5023263996 2014 2016-08-17 19:52:53Z Mr Timothy Brown 521 Lancaster Ave CPO 15A Richmond KY 40475 64245241 false 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. 18 18 0 22 0 0 2970299 4180791 45608 43059 4561112 9392415 220296 355263 7797315 13971528 1020015 3980411 0 0 0 0 0 0 0 1047679 809829 2067694 4790240 5729621 9181288 71487860 69777228 20591712 19603922 50896148 50173306 The EKU Foundation provides support for Eastern Kentucky University in accomplishing its goals of education and regional stewardship within its southeastern Kentucky service region. false false 3392824 3328452 398322 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. 651959 651959 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. 4044783 true true false false false false false false true true true true false false true true true false false false false false false false false false false true false true false false false false false false false false true true false false false true false false false true 17 0 true 0 false false false false false true true false true true false X 18 18 false false false false false false false true true false false true true true true false false false false false KY X Barry Poynter Interim VP Fin EKU 8596225012 521 Lancaster Ave Coates Box 31A Richmond KY 40475 Hardy Tribble Trustee 1.00 X 0 0 0 Timothy C Brown Chair 1.00 X 0 0 0 Ritchie Rednour Trustee 1.00 X 0 0 0 Bill Daugherty Trustee 1.00 X 0 0 0 Barbara A Ricke Trustee 1.00 X 0 0 0 Jane Boyer 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 Don Bornhorst Trustee 1.00 X 0 0 0 Don McNay Trustee 1.00 X 0 0 0 James B Moore Trustee 1.00 X 0 0 0 Maribeth Berman Trustee 1.00 X 0 0 0 Matt Evans Trustee 1.00 X 0 0 0 Michael T Benson EKU President 1.00 39.00 X 0 467328 68695 Thomas M Martin Trustee 1.00 X 0 0 0 Gary Booth Trustee 1.00 X 0 0 0 Steve Hall Trustee 1.00 X 0 0 0 Mark Sandy Interim VP of Development/Foundation's Top Management Official (2.5 months) 20.00 20.00 X 0 194089 34737 Barry Poynter VP EKU/Foundation's top fin. official 3.00 37.00 X 0 180524 31126 Nicholas Perlick VP of Development/Foundation's Top Management Official (10 months) 20.00 20.00 X 0 50224 11086 0 892165 145644 0 false true false HIRTLE CALLAGHAN FIVE TOWER BRIDGE SUITE 500 WEST CONSHOHOCKEN PA 194282998 INVESTMENT SERVICES 250280 1 4180791 109277 4180791 Alumni Events 900099 43059 43059 0 0 0 0 43059 1444572 1444572 295980 89367 206613 0 206613 206613 58132189 50184346 7947843 0 7947843 7947843 Miscellaneous Revenues 900099 148650 148650 0 0 0 0 148650 13971528 398322 0 9392415 3980411 3980411 158218 158218 17183 17183 20350 20350 281599 281599 36366 0 36366 0 934 934 29108 29108 1880 1880 37734 37734 102247 102247 32652 32652 SPECIAL FUNCTIONS 61558 61558 30000 0 30000 0 4790240 4044783 745457 0 6775693 4066297 460095 121384 48014 31605 0 0 0 9796 0 21375 5517031 897695 5787872 4619336 49702935 55680013 8466804 5021590 0 246447 205832 71487860 69777228 57652 50150 0 0 0 18626620 17659309 0 0 1373712 1115466 533728 778997 20591712 19603922 X 4634030 5973117 18427092 17696393 27835026 26503796 50896148 50173306 71487860 69777228 X 9181288 -8996193 -149670 -758267 X false true X true false X 3191563 2556355 2768454 2970299 4180791 15667462 3191563 2556355 2768454 2970299 4180791 15667462 709541 14957921 1148955 1492990 1651698 1762845 1740552 7797040 295853 275972 19320 0 0 591145 24055647 739607 0.6218 0.5816 X Schedule A, Part II, Line 10 Other Income DESCRIPTION - OTHER INCOME, COLUMN A - 295853.0, COLUMN B - 275972.0, COLUMN C - 19320.0, COLUMN D - , COLUMN E - , COLUMN F - 591145.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false 0 0 0 0 true X 64588838 4023355 667373 2914553 0 261225 66103788 57846275 1508259 8477630 3243326 0 0 64588838 50133022 1325079 7709907 1321733 0 0 57846275 49488724 1873688 -45116 1184274 0 0 50133022 39573556 2310582 8239494 634908 0 0 49488724 0.1222 0.8778 0.0 true false 1558723 1558723 3435083 609548 2825535 523225 288147 235078 4619336 Hedge Funds 2019394 F Limited Partnerships 3002196 F 5021590 Due to Related Party - University 430502 Annuity payments and deferred giving liability 348495 778997 X 4803477 -8996193 89367 -8906826 13710303 261225 0 261225 13971528 5376649 847634 847634 4529015 261225 0 261225 4790240 Schedule D, Part IV, Line 2b Explanation of escrow agreement 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. Schedule D, Part V, Line 4 Intended uses of endowment funds The endowment funds have been established for the purpose of generating investment income and return to support the educational and regional stewardship activities of Eastern Kentucky University. The designated purposes of all funds are maintained and the income/return from them is used only for the intended donor purpose. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The Internal Revenue Service (IRS) has determined that the Foundation is exempt from income taxes under Section 501 of the Internal Revenue Code (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. U.S. 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 is more-likely-than-not sustained in 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 is greater than 50% likely of being realized on examination. For tax positions not meeting the more-likelythan-not test, no tax benefit or liability will be recorded. Management is not aware of any tax benefits or liabilities which would warrant recognition as of June 30, 2015, 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, 2015. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 Rental Expense - 89367 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 Rental Expense - 89367 Uncollectible Pledges - 7876 Uncollectible Receivable - 750391 true Eastern Kentucky University 521 Lancaster Ave Richmond KY 404753102 611011211 3327774 977000 Book Property and Works of Art To enhance the student experience and furhter the misison of Eastern Kentucky University 1 0 Schedule I, Part I, Line 2 Description Of Procedure For Monitoring Use Of Grant Funds 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, amounts reported in Schedule I, Part I, reflect financial support that the Foundation provides to the University for scholarships, academic programs, research, facilities, faculty and other initiatives of the University. Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. 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, amounts reported in Schedule I, Part I, reflect financial support that the Foundation provides to the University for scholarships, academic programs, research, facilities, faculty and other initiatives of the University. false false false false false false false false false Michael T Benson EKU President 0 467328 0 0 0 0 0 48881 0 19814 0 536023 0 0 Mark Sandy Interim VP of Development/Foundation's Top Management Official (2.5 months) 0 194089 0 0 0 0 0 25227 0 9510 0 228826 0 0 Barry Poynter VP EKU/Foundation's top fin. official 0 180524 0 0 0 0 0 24825 0 6301 0 211650 0 0 Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation Compensation for the organization's top management official is paid and determined by Eastern Kentucky University (EKU), a related tax-exempt organization. Mark Sandy and Nicholas Perlick were the top management officials of the Eastern Kentucky University Foundation. Their position as an employee of the Eastern Kentucky University is Interim Vice President of Development, and Vice President of Development respectively. Their compensation as such is determined via compensation survey. X 6 45000 Market value X 5748 Cost X 1 114 Cost X 2 5342 Market value X 49 36750 Market value X Concrete for the new tennis courts 1 7409 Cost X Telescopes and other materials 1 4149 Market value X Tickets to a show 2 60 Cost X Louisville Alumni Event 1 3691 Cost X Rolls of PE film stock 5 1014 Selling cost 1 false true false Schedule M, Part I Explanations of reporting method for number of contributions Other: Number of contributions Art - Works of art: Number of items Scientific specimens: Number of items Other: Number of contributions Clothing and household goods: Number of contributions Other: Number of items Historical artifacts: Number of contributions Food inventory: Number of contributions Other: Number of contributions Other: Number of items contributed Form 990, Part VI, Line 13 WRITTEN WHISTLEBLOWER & DOCUMENT RETENTION & DESTRUCTION POLICIES ALTHOUGH THE ORGANIZATION DOES NOT HAVE ITS OWN WRITTEN WHISTLEBLOWER AND WRITTEN DOCUMENT RETENTION AND DESTRUCTION POLICIES, THE ORGANIZATION CURRENTLY FOLLOWS THE WRITTEN POLICIES OF EASTERN KENTUCKY UNIVERSITY, A RELATED TAX-EXEMPT ORGANIZATION. Form 990, Part VI, Line 15 PROCESS USED TO ESTABLISH COMPENSATION OF OFFICERS 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, Line 11b Review of form 990 by governing body 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, Line 12c Conflict of interest policy 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, Line 19 Required documents available to the public 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 XI, Line 9 Other changes in net assets or fund balances Uncollectible Pledges - -7876; UNCOLLECTIBLE RECEIVABLE - -750391; EASTERN KENTUCKY UNIVERSITY 521 LANCASTER AVE RICHMOND KY 40475 611011211 EDUCATION KY NA false false true false false false false false false true false false false true true true true true true false