2016-05-02T19:46:51-05:00 2015-06-30 KPMG LLP 1676 International Drive McLean VA 22102 990 2014-07-01 540485595 UNIVERSITY OF VIRGINIA ALUMNI ASSOCIATION % DONNA AREHART UNIV 4342439000 PO BOX 400314 CHARLOTTESVILLE VA 22904 DONNA R AREHART VP AND CFO 4342439009 2016-05-02 true WHITNEY E BLAIR P01226647 7032868000 2014 2016-08-17 19:52:53Z C THOMAS FAULDERS III 211 EMMET STREET SOUTH CHARLOTTESVILLE VA 22903 52041863 false X WWW.ALUMNI.VIRGINIA.EDU X 1838 VA TO BUILD THE STRONGEST BOND BETWEEN THE UNIVERSITY AND ITS ALUMNI, SERVING AS THE VOICE AND CONSCIENCE OF ALUMNI, AND SERVING THE UNIVERSITY AND ITS MISSION. 39 39 88 1637 725199 -111916 41852619 41603153 5353276 5318042 1260645 1829385 244542 509732 48711082 49260312 48888039 39089237 0 0 4984489 5425589 0 0 959231 4660402 4598467 58532930 49113293 -9821848 147019 306019558 323368854 99865420 100300892 206154138 223067962 X THE MISSION OF THE ALUMNI ASSOCIATION IS TO BUILD THE STRONGEST BOND BETWEEN THE UNIVERSITY AND ITS ALUMNI BY SERVING ALL OF THE UNIVERSITY'S ALUMNI AND STUDENTS, SERVING AS THE VOICE AND THE CONSCIENCE OF ALUMNI, AND SERVING THE UNIVERSITY AND ITS MISSION. false false 40315132 39089237 1228033 THE ASSOCIATION, THROUGH ITS UVA FUND PROGRAM, SERVES THE U.VA. COMMUNITY BY OFFERING FINANCIAL AND ENDOWMENT MANAGEMENT SERVICES. WITH MORE THAN 3,700 ACCOUNTS, THE UVA FUND SERVES-IN A COST-EFFICIENT AND EFFECTIVE MANNER-APPROXIMATELY 600 STUDENT GRANT PROGRAM - ORGANIZATIONS, 200 ALUMNI CLUBS, 13 RELATED FOUNDATIONS, AND HUNDREDS OF ENDOWMENTS AND RESTRICTED ACCOUNTS FOR ORGANIZATIONS AND UNITS ACROSS U.VA. THE ASSOCIATION ALSO MANAGES AND ADMINISTERS NUMEROUS STUDENT SCHOLARSHIPS, AND, THROUGH ITS JEFFERSON TRUST PROGRAM, PROVIDES ANNUAL GRANTS TO PROJECTS THAT ENHANCE THE UNIVERSITY AS A PREEMINENT GLOBAL INSTITUTION OF HIGHER LEARNING. 4203075 2485577 HOMECOMINGS & REUNIONS - THROUGH A SERIES OF EVENTS HELD THROUGHOUT THE YEAR, THE ASSOCIATION WELCOMES THOUSANDS OF ALUMNI BACK TO U.VA. IN MEANINGFUL, OFTEN EDUCATIONAL, WAYS THAT STRENGTHEN THE BOND BETWEEN ALUMNI AND THEIR ALMA MATER. THE STEADILY GROWING REUNIONS WEEKEND BRINGS ALUMNI BACK BASED ON CLASS YEAR, WHILE OTHER REUNIONS GEARED FOR THE YOUNGEST AND OLDEST ALUMNI PROVIDE ADDITIONAL OPPORTUNITIES TO RECONNECT WITH THE UNIVERSITY. ADDITIONAL PROGRAMMING INCLUDES SOCIAL AND EDUCATIONAL EVENTS SURROUNDING FOOTBALL GAMES AND MORE THAN 150 STUDENT EVENTS DESIGNED TO BUILD COMMUNITY AND CLASS IDENTITY. 1816052 879233 ALUMNI COMMUNICATIONS - THE ASSOCIATION IS A VIBRANT CENTER OF COMMUNICATIONS FOR ALUMNI, PARENTS, STUDENTS AND FACULTY, USING A VARIETY OF MEDIA, INCLUDING PRINT, ONLINE, MOBILE, TABLET AND VIDEO. THESE PLATFORMS COMBINE TO PROVIDE TIMELY AND ACCURATE COMMUNICATIONS TO THE ASSOCIATION'S CONSTITUENTS IN THE WAYS THEY CHOOSE TO CONSUME INFORMATION, KEEPING THEM WELL INFORMED AND WELL CONNECTED TO THE UNIVERSITY, AS WELL AS TO ONE ANOTHER. THE ASSOCIATION PUBLISHES THE AWARD-WINNING QUARTERLY U.VA. MAGAZINE, WHICH IS DISTRIBUTED TO ALL ALUMNI AND STUDENTS. THIS PUBLICATION IS SUPPLEMENTED BY WEBSITES, SOCIAL MEDIA, ELECTRONIC NEWSLETTERS AND VIDEOS. 46334259 true true false false false false false false false true true true false false true true true false false false true false false false false false false true false true false false false false false false false false true false false false true true true true false false true 513 0 true 88 true true true false false false false true true false false false false false X 39 39 false false false false false false false true true false false true true true true true true true true false AK AR CA CO DC KY ME MD MA MI MN NH NJ NY NC OK OR PA RI SC TN UT WA WV WI X DONNA AREHART 4342439000 ALUMNI HALL CHARLOTTESVILLE VA 229030446 X Susan K Blank MD Board of Managers 1.0 0.0 X 0 0 0 Clifford W Bogue MD Board of Managers 1.0 0.0 X 0 0 0 Susan P Campbell Board of Managers 1.0 0.0 X 0 0 0 Shannon S Carter Board of Managers 1.0 0.0 X 0 0 0 Allison C DiNardo Board of Managers 1.0 0.0 X 0 0 0 Raj R Doshi Board of Managers 1.0 0.0 X 0 0 0 James T Fang Board of Managers 1.0 0.0 X 0 0 0 Owen D Griffin Jr Board of Managers 1.0 0.0 X 0 0 0 John H Harris Vice Chair 1.0 0.0 X X 0 0 0 N William Jarvis Board of Managers 1.0 0.0 X 0 0 0 Meredith B Jenkins Board of Managers 1.0 0.0 X 0 0 0 Shelly G Johnson Board of Managers 1.0 0.0 X 0 0 0 Jeff S Lee Board of Managers 1.0 0.0 X 0 0 0 Teri S Lovelace Board of Managers 1.0 0.0 X 0 0 0 J Brady Lum Board of Managers 1.0 0.0 X 0 0 0 Carolyn P Meade Board of Managers 1.0 0.0 X 0 0 0 Charles W McDaniel Board of Managers 1.0 0.0 X 0 0 0 Richard T McKinless Board of Managers 1.0 0.0 X 0 0 0 Frances D McMullan MD Board of Managers 1.0 0.0 X 0 0 0 Timothy G O'Shea Board of Managers 1.0 0.0 X 0 0 0 Mathias J Paco Board of Managers 1.0 0.0 X 0 0 0 Shannon O Pierce Board of Managers 1.0 0.0 X 0 0 0 Mark A Victor Pinho Board of Managers 1.0 0.0 X 0 0 0 C Mark Pirrung Board of Managers 1.0 0.0 X 0 0 0 Charles Rotgin Jr Board of Managers 1.0 0.0 X 0 0 0 James E Rutrough Jr Board of Managers 1.0 0.0 X 0 0 0 Puja Seam Board of Managers 1.0 0.0 X 0 0 0 Christian D Searcy Board of Managers 1.0 0.0 X 0 0 0 Stephen P Smiley Chair 1.0 0.0 X X 0 0 0 Elizabeth A Smith Board of Managers 1.0 0.0 X 0 0 0 Julious P Smith Jr Board of Managers 1.0 0.0 X 0 0 0 Michael C Smith Board of Managers 1.0 0.0 X 0 0 0 James R Socas Board of Managers 1.0 0.0 X 0 0 0 Teresa A Sullivan Board of Managers 1.0 0.0 X 0 0 0 David G Sutton Board of Managers 1.0 0.0 X 0 0 0 Joan S Tooley Board of Managers 1.0 0.0 X 0 0 0 Sheryl W Wilbon Board of Managers 1.0 0.0 X 0 0 0 Patricia B Woodard Board of Managers 1.0 0.0 X 0 0 0 Amy B Wright Board of Managers 1.0 0.0 X 0 0 0 C Thomas Faulders III President & CEO 40.0 0.0 X 368377 0 43790 Donna R Arehart VP of Finance 40.0 0.0 X 192100 0 37157 Wayne D Cozart VP of Development 40.0 0.0 X 145970 0 29384 Robert J Viccellio VP of Communications 40.0 0.0 X 127769 0 36781 Mary C Bass Director of Endowment 40.0 0.0 X 122126 0 25266 Jason E Life Director of Alumni Engagement 40.0 0.0 X 107171 0 31872 Jennifer L Bonenfant Director of UVa Fund 40.0 0.0 X 116207 0 20227 1179720 0 224477 9 false true false UNIVERSITY OF VIRGINIA INVESTMENT M PO BOX 400215 CHARLOTTESVILLE VA 22904 INVESTMENT MGMT FEES 421786 LANE PRESS PO BOX 130 BURLINGTON VT 05402 PRINTING PUBLISHER 412563 UNIVERSITY OF VIRGINIA PO BOX 400201 CHARLOTTESVILLE VA 22904 postage/repairs/main 393235 ARAMARK SERVICEMASTER 1101 MARKET ST PHILADELPHIA PA 19107 repairs/maintenance 293594 W A LYNCH ROOFING CO INC 1234 RIVER ROAD CHARLOTTESVILLE VA 22901 REPAIRS/MAINTENANCE 219759 22 1244122 4465774 35893257 2968344 41603153 UVA CONTRACTUAL SERVICES 900099 2340022 2340022 ADMINISTRATIVE SERVCIES 900099 1228033 1228033 ADVERTISING 900099 745780 74480 671300 COMMISSIONS 900099 76069 76069 FOUNDATION EXPENSE REIMBURSEMENT 900099 58000 58000 870138 816239 53899 5318042 1181699 1181699 0 509732 509732 0 0 0 2547737 881500 2573890 207661 -26153 673839 647686 647686 0 0 0 0 49260312 4592843 725199 2339117 39089237 39089237 0 0 0 643230 250796 250796 141638 0 3304381 2705709 284022 314650 416213 308068 60011 48134 778285 619688 98146 60451 283480 213967 34355 35158 0 31608 3366 28242 113148 53223 58720 1205 0 0 517946 517946 0 71652 59758 8801 3093 1206557 1008964 16295 181298 16724 15656 826 242 0 549851 180509 319009 50333 37645 30327 2611 4707 0 0 0 0 242558 99859 110795 31904 141150 104468 20903 15779 SPECIAL PROMOTIONS 1588109 1509145 8325 70639 PRINTING AND PUBLICATIONS 81519 81519 49113293 46334259 1819803 959231 X 0 0 16112272 16720888 7431989 8482649 0 0 0 0 0 0 0 0 0 0 96705 163710 8962693 5323781 3647322 3638912 55827681 58797387 210634604 224297122 0 0 0 0 12268985 11268186 306019558 323368854 1671927 967836 0 0 0 0 0 0 0 0 0 0 0 0 0 0 98193493 99333056 99865420 100300892 X 66945303 69869291 90336956 94692777 48871879 58505894 206154138 223067962 306019558 323368854 X 147019 18163101 -1396296 X false true X true false X 31295394 43414000 35566951 41852619 41603153 193732117 0 0 31295394 43414000 35566951 41852619 41603153 193732117 0 193732117 1265849 9095238 927037 1534327 1691431 14513882 59181 8662 -110799 -70066 -111916 -224938 0 208021061 21978096 0.93131 0.92730 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false 206154138 40359031 19474539 7071897 35847849 223067962 176154962 40664754 39000571 7126569 42539580 206154138 162333224 34346629 25064096 6420213 39168774 176154962 145041867 58777566 8437996 6499813 43424392 162333224 116364394 28888861 34670779 34882167 0 145041867 0.31300 0.26200 0.42500 true false 112388 112388 6475282 4317792 2157490 1699403 932804 766599 675620 73185 602435 3638912 LONG/SHORT EQUITY 59876041 F REAL ESTATE 16509526 F CREDIT 32565426 F RESOURCES 9245385 F CASH & ACCURALS 14143567 F BUYOUT 19093743 F PORTFOLIO OVERLAYS 145835 F VENTURE CAPITAL 11539635 F BONDS 44728382 F GROWTH EQUITY 16449582 F 224297122 0 FUNDS RECEIVED & HELD FOR THE 0 RELATED ORGANIZATIONS 96538929 OTHER LIABILITIES 600576 ANNUITY & LIFE INCOME OBLIGATI 2193551 99333056 X 65509171 18163101 18163101 47346070 517946 1396296 1914242 49260312 48595347 48595347 517946 517946 49113293 Form Sch D Part V Line 4 The Association's endowments consist of approximately 2,700 individual funds established for a variety of purposes in furtherance of the association's mission, including both donor-restricted endowment funds, term endowments, and funds designated by the Board to function as endowments. The endowments support specific programs, scholarships, student activites, and University-related organizations. FORM SCH D PART X LINE 2 The Association is required to recognize a tax position taken or expected to be taken on a tax return based on a 'MORE LIKELY THAN NOT' THRESHOLD. This applies to positions taken or expected to be taken on a tax return. The Association does not believe its financial statements include any uncertain tax positions. Schedule D, Part XI and Part XII Part XI, Line 2d Amount Represents Change in fair value of beneficial interests in trusts 1,000,799 Change in value of trusts and annuities 233,912 Total: 1,396,296 true East Asia and the Pacific Program Services Student research & aid 248928 Europe (Including Iceland and Greenland) Program Services Student research & aid 122798 North America Program Services Student research & aid 3408 South America Program Services Student research & aid 2906 South Asia Program Services Student research & aid 3224 Sub-Saharan Africa Program Services Student research & aid 35674 416938 416938 false false false false false false Form Sch F Part I THE UVA FUND PROVIDES FUNDS FOR AN EXTENSIVE RANGE OF MULTIDISCIPLINARY WORK REFLECTING INTERNATIONAL INTERESTS. THESE FUNDS PROMOTE THE ENGAGEMENT OF FACULTY AND STUDENTS IN THE DEVELOPMENT OF MULTIDISCIPLINARY SCHOLARSHIP AND RESEARCH PROJECTS THAT ADDRESS SOCIAL JUSTICE, SUSTAINABLE ECONOMIC DEVELOPMENT, PUBLIC HEALTH, GLOBAL INTERCONNECTION, AND PUBLIC SERVICE. FUNDS ARE USED TO PAY FOR SPEAKERS, TRAVEL AND HANDS-ON LEARNING OPPORTUNITIES FOR STUDENTS AND FACULTY. true UNIVERSITY OF VIRGINIA PO BOX 40229 CHARLOTTESVILLE VA 22904 546001796 501(c)(3) 39089237 NA none PROGRAM SUPPORT - FINANCIAL SUPPORT 1 U.Va. Fund THE U.VA. FUND SERVES THE COMMUNITY WITH ENDOWMENT AND MANAGEMENT SERVICES, PROCESSING OF DONATIONS, AND PROVIDING EMERGENCY ASSISTANCE TO STUDENTS. Form Sch I THE ASSOCIATION, THROUGH ITS UVA FUND PROGRAM, MANAGES HUNDREDS OF ENDOWMENTS, SCHOLARSHIPS AND RESTRICTED ACCOUNTS FOR ORGANIZATIONS AND UNITS ACCROSS THE UNIVERSITY COMMUNITY. DETAILED RECORDS OF ALL GIFTS, SCHOLARSHIPS AND ENDOMWENT FUNDS RECEIVED BY THE ASSOCIATION ARE PERMANENTLY FILED AND MAINTAINED. THE ACCOUNTING SOFTWARE UTILIZED BY THE UVA FUND PROVDIES AN ACCURATE AND DETAILED HISTORY OF ALL ENDOWMENT FUNDS BY ACCOUNT BALANCE AND GRANTS MADE. ALL GRANT REQUESTS ARE REVIEWED BY MANAGEMENT PRIOR TO PAYMENT TO ENSURE THAT THEY MATCH THE FUND'S PURPOSE, CONFORM TO THE DONOR'S ORIGINAL INTENT AND THAT ALL RESTRICTIONS ARE MET. X true true X X X X X false false false false false false false true false C Thomas Faulders III President & CEO 279862 0 45000 0 43515 0 28181 0 15609 0 412167 0 0 0 Donna R Arehart VP of Finance 165644 0 5853 0 20603 0 25650 0 11507 0 229257 0 0 0 Wayne D Cozart VP of Development 130239 0 4521 0 11210 0 25476 0 3908 0 175354 0 0 0 Robert J Viccellio VP of Communications 114024 0 4066 0 9679 0 23071 0 13710 0 164550 0 0 0 Schedule J Part I, Line 1 FARMINGTON COUNTRY CLUB DUES: THE ALUMNI ASSOCIATION PROVIDES THE PRESIDENT AND CEO WITH A MEMBERSHIP TO THE FARMINGTON COUNTRY CLUB. FARMINGTON IS A SOCIAL CLUB USED BY THE EMPLOYEE FOR BUSINESS AND RECREATIONAL USE. THIS IS CONSIDERED FULLY TAXABLE AND IS THEREFORE INCLUDED IN THE EMPLOYEES TAXABLE WAGES FOR THE YEAR. GREENCROFT COUNTRY CLUB DUES: THE ALUMNI ASSOCIATION PROVIDES THE PRESIDENT AND CEO WITH A MEMBERSHIP TO THE GREENCROFT COUNTRY CLUB. HOWEVER, THIS CLUB IS USED FOR BUSINESS PURPOSES ONLY (BOARD DINNERS) AND IS NOT CONSIDERED TAXABLE TO THE EMPLOYEE. SOCIAL CLUB DUES ALLOWANCE: DONNA AREHART AND MOLLY BASS BOTH RECEIVE $208.32 PER MONTH IN CLUB DUES ALLOWANCE. THIS IS FULLY TAXABLE AND INCLUDED IN THEIR W-2 WAGES. INTRAMURAL SPORTS MEMBERSHIP: THE ALUMNI ASSOCIATION PROVIDES AN INTRAMURAL-RECREATIONAL SPORTS MEMBERSHIP TO ANY EMPLOYEE WISHING TO JOIN. THIS MEMBERSHIP ALLOWS THE EMPLOYEE TO UTILIZE ALL UNIVERSITY RECREATION FACILITIES AND COSTS $345 PER EMPLOYEE. MEMBERSHIP IS AVAILABLE TO ALL MEMBERS OF THE UNIVERSITY COMMUNITY. EMPLOYEES ARE NOT TAXED ON THE VALUE OF THE SPORTS MEMBERSHIP BECAUSE THE ATHLETIC FACILITIES ARE LOCATED ON UNIVERSITY PREMISES AND OPERATED BY THE UNIVERSITY. THE USE OF THE FACILITIES PASS IS LIMITED TO THE EMPLOYEE ONLY AND IS NOT AVAILABLE TO FAMILY MEMBERS. [I.R.C. SEC. 132(I)(4)] The Alumni Association pays for health club dues and social club dues for the following employees: 1. Tom Faulders - Health Club $0 Social Club Dues $6,036 2. Donna Arehart - Health Club $325 Social Club Dues $2,500 3. Wayne Cozart - Health Club $325 Social Club Dues $0 4. Robert Viccellio - Health Club $325 Social Club Dues $0 5. Molly Bass - Health Club $0 Social Club Dues $2,500 SCHEDULE J, PART I, LINE 7 THE UNIVERSITY OF VIRGINIA ALUMNI ASSOCIATION ANNUALLY DISTRIBUTES INCENTIVES BASED ON TWO CRITERIA FOR THE ORGANIZATION AS A WHOLE. THE CRITERIA ARE AS FOLLOWS: THE PERCENTAGE OF GOALS MET BY THE EMPLOYEE'S DEPARTMENT, AND THE PERCENTAGE OF GOALS MET BY THE ALUMNI ASSOCIATION AS A WHOLE. EACH CRITERION IS WEIGHTED 50/50 AND IS BASED ON A SET OF PERFORMANCE METRICS DEVELOPED FOR THIS PURPOSE AND TRACKED MONTHLY. THE INCENTIVE PLAN IS NOT A CONTRACTUAL OBLIGATION FOR ANY EMPLOYEE WITHIN THE ALUMNI ASSOCIATION X 683 2508060 FMV X HORSES 12 313148 FMV X OTHER 56 147136 FMV 4 false true true Form Sch M Part I Line 32b The Alumni Association uses independent agents and brokers to sell and process gifts of securities. OTHER PROGRAM SERVICES FORM 990, PART III, LINE 4D THE UNIVERSITY OF VIRGINIA RECOGNIZES THE VALUE OF A STRONG, INDEPENDENT ALUMNI ASSOCIATION. AS SUCH, THE ASSOCIATION IS GOVERNED BY A SELF-PERPETUATING BOARD AND ITS EXECUTIVE DIRECTOR REPORTS TO THE ASSOCIATION'S BOARD. THE ASSOCIATION PARTNERS WITH THE UNIVERSITY TO CREATE A STRONG AND COLLABORATIVE INSTITUTION-WIDE ALUMNI ENGAGEMENT PROGRAM THAT HAS ENHANCED THE UNIVERSITY'S ABILITY TO BUILD AND MAINTAIN TIES WITH AN INCREASINGLY DIVERSE COMMUNITY OF ALUMNI. ALUMNI HALL IS SEEN AS THE HUB OF ALUMNI-RELATIONS ACTIVITIES AND THE UNIVERSITY COMMITS FUNDS TO ALUMNI-RELATIONS PROGRAMS UNDERTAKEN BY THE ASSOCIATION ON BEHALF OF THE UNIVERSITY. THROUGH JOINT STRATEGIC PLANNING, THE ASSOCIATION AND THE UNIVERSITY HAVE SUCCESSFULLY CREATED BEST-IN-CLASS ALUMNI PROGRAMS AND SERVICES THAT ARE DELIVERED TO ALUMNI IN A SEAMLESS FASHION, IN ADDITION TO THE THREE LARGEST PROGRAM EXPENSES DESCRIBED IN PART III, LINES 4A THROUGH 4C, THE ASSOCIATION IS ALSO RESPONSIBLE FOR THE FOLLOWING PROGRAMS AND SERVICES: ALUMNI CAREER COUNSELING; AFFINITY INTEREST GROUPS; YOUNG ALUMNI COUNCIL; CLASS COUNCILS AND TRUSTEES; ADMISSIONS COUNSELING; ALUMNI RECORDS DATABASE; AND VARIOUS REVENUE-GENERATING PROGRAMS THAT PROVIDE FINANCIAL SUPPORT FOR THE ASSOCIATION, SUCH AS ROYALTIES, RENTALS, SERVICE AND ADMINISTRATIVE FEES, ANNUAL GIVING AND MEMBERHSIP DUES. Governing Body Delegation of Broad Authority Form 990, Part VI, line 1a In accordance with Article X, Section 1 of the Association's Corporate Bylaws, the Board of Managers may create an Executive Committee and shall appoint Managers to serve on it. The committee shall have two or more members, with a majority of the committee membership consisting of Managers, and all of whom shall serve at the pleasure of the Board. The current Executive Committee consists of 19 members, all of which are voting Managers of the Board. Pursuant to Article II, Section 2 of the Corporate Bylaws, the Executive Committee of the Board of Managers is empowered to act on any matters between regular Board meetings with the following exceptions: The Executive Committee may not (i) fill vacancies on the Board or on any of its committees; (ii) amend the Articles of Incorporation; (iii) adopt, amend or repeal these Bylaws; (iv) approve a plan of merger or consolidation; (v) approve the sale, lease or exchange, or the mortgage, pledge or other disposition of all, or substantially all, of the property and assets of the Association; or (vi) approve revocation of voluntary dissolution proceedings. 990 REVIEW PROCESS Form 990 Part VI Line 11b A COPY OF THE FORM 990 IS PROVIDED TO THE ALUMNI ASSOCIATION'S BOARD OF MANAGERS FOR REVIEW. IN ADDITION, THE 990 HAS BEEN REVIEWED BY MANAGEMENT AND THE ASSOCIATION'S INDEPENDENT ACCOUNTING FIRM KPMG. THE RETURN IS FURTHER REVEIWED AND DISCUSSED DURING THE AUDIT COMMITTEE SESSION OF THE SPRING BOARD OF MANAGERS MEETING. THE 990 IS FILED SUBSEQUENT TO THE COMPLETION OF ALL LEVES OF REVIEW. CONFLICT OF INTEREST POLICY Form 990 Part VI Line 12c ANNUALLY, EACH MEMBER OF THE BOARD OF MANAGERS FILES WITH THE EXECUTIVE DIRECTOR A CONFLICT OF INTEREST DISCLOSURE STATEMENT. IN ADDITION, THIS STATEMENT IS FILED BY FUTURE MEMBERS OF THE BOARD OF MANAGERS AT THE TIME OF THEIR ELECTION. A CONFLICT OR POTENTIAL CONFLICT OF INTEREST IS CONSIDERED TO EXIST IF THE MEMBER OR A MEMBER'S DEPENDENT HAS ANY RELATIONSHIP, INTEREST, OR SITUATION WHICH MIGHT INDICATE A DUALITY OF LOYALTY OR INTEREST. IF A CONFLICT EXISTS, THE MEMBER IS ASKED TO IDENTIFY THE SPECIFIC CONFLICT. ANY MEMBER OF THE BOARD HAVING A CONFLICT OF INTEREST IN CONNECTION WITH ANY MATTER BEFORE THE BOARD SHALL SO INDICATE AT THE TIME AND SHALL NOT TAKE PART IN ANY VOTE WITH RESPECT TO SUCH MATTER. THE MINUTES OF THE MEETING SHALL REFLECT ANY SUCH DISCLOSURE AND ABSTENTION FROM VOTING. IF CONFIDENTIAL INFORMATION WILL BE PRESENTED OR DISCUSSED, THE MEMBER OF THE BOARD WITH THE CONFLICT WILL BE EXPECTED TO EXCUSE HIMSELF/HERSELF DURING THAT PORTION OF THE MEETING. EXECUTIVE COMPENSATION PROCESS Form 990 Part VI LINES 15A & 15B THE BOARD OF THE ALUMNI ASSOCIATION INCLUDES AN INDEPENDENT COMPENSATION COMMITTEE THAT IS CHARGED WITH THE REVEIW OF THE PRESIDENT & CEO'S COMPENSATION AND BENEFIT PACKAGE. THE COMPENSATION COMMITTEE CONTEMPORANEOUSLY DOCUMENTS THE DELIBERATION AND DECISION IN MINUTES BEFORE APPROVING THE COMPENSATION AND BEENFITS PACKAGE OF THE PRESIDENT & CEO. MANAGEMENT AND KEY OFFICIAL COMPENSATION IS REVEIWED BY THE ASSOCIATION'S PRESIDENT ANNUALLY. THE COMPENSATION COMMITTEE RETAINS AN INDEPENDENT CONSULTANT TO PROVIDE AN INTERMEDIATE SANCTIONS REVIEW OF THE PRESIDENT AND FIVE HIGEST PAID POSITIONS AND A MARKET VALUE ANALYSIS OF ALL MAJOR JOB DESCRIPTIONS ON A TRIENNIAL BASIS. This review was last performed in calendar year 2014. DISCLOSURE Form 990 Part VI Line 19 THE ASSOCIATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. THE ASSOCIATION DOES MAKE ITS FORM 990 AND 990-T AVAILABLE TO THE PUBLIC. OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 9 Change in Fair Value of Beneficial Interests in Trusts (1,000,799) Change in Value of Trusts & Annuities (395,497) --------- total (1,396,296) THE JEFFERSON TRUST FOR THE UNIV OF VA 211 EMMET STREET SOUTH CHARLOTTESVILLE VA 22903 GRANT PROGRAM VA 0 0 NA FARQUHAR DAVID TUA PO BOX 400314 CHARLOTTESVILLE VA 22904 946402196 MANAGEMENT CA UVA ALUMNI ASSN Trust 455123 639100 1.00000 true false false false false false false false false false false false false false false false false false false true FARQUHAR DAVID TUA s 297243 FMV