2016-02-12T14:48:13-06:00 2015-06-30 346565596 ERNST & YOUNG US LLP 190 CARONDELET PLAZA SUITE 1300 CLAYTON MO 63105 990 2014-07-01 480547734 THE KANSAS UNIVERSITY ENDOWMENT ASSOCIATION KANS 7858327400 PO BOX 928 LAWRENCE KS 660440928 JAMES CLARKE TREASURER 7858327400 2016-02-12 1 JENNIFER L RICHTER P00366526 3142901000 2014 2016-08-17 19:52:53Z KU ENDOWMENT DALE SEUFERLING PO BOX 928 LAWRENCE KS 660440928 427989270 0 X WWW.KUENDOWMENT.ORG X 1891 KS UNIVERSITY SUPPORT 12 11 337 72 -982502 -1051257 186410633 190025615 2495050 5838449 56244851 62312102 8488410 24663386 253638944 282839552 123284253 183804875 0 0 14959856 15146455 10321 49416 11311251 11922272 19738376 150176702 218739122 103462242 64100430 1830047985 1861251704 104503903 117893380 1725544082 1743358324 X KU ENDOWMENT PARTNERS WITH DONORS IN PROVIDING PHILANTHROPIC SUPPORT TO BUILD A GREATER UNIVERSITY OF KANSAS. 0 0 30353398 30353398 STUDENT SUPPORT--VIRTUALLY ALL PRIVATELY FUNDED SCHOLARSHIPS, AWARDS AND FELLOWSHIPS PROVIDED BY KU COME FROM DONOR CONTRIBUTIONS TO KU ENDOWMENT. THIS YEAR, MORE THAN 6,500 STUDENTS RECEIVED FINANCIAL ASSISTANCE FROM KU ENDOWMENT FUNDS. 36053443 36053443 FACULTY SUPPORT INCLUDES 193 NAMED, ENDOWED POSITIONS, INCLUDING 6 NEW PROFESSORSHIPS DURING THIS FISCAL YEAR. PRIVATE FUNDING AUGMENTS SALARIES AND SUPPORTS AWARDS, PROFESSIONAL TRAVEL AND PROFESSIONAL DEVELOPMENT THIS SUPPORT IS INVALUABLE IN CREATING THE VIBRANT TEACHING AND RESEARCH ENVIRONMENT THAT ONE EXPECTS AT AN INTERNATIONAL RESEARCH UNIVERSITY. 46813386 46813386 5011537 SUPPORT FROM PRIVATE DONORS STRENGTHENS ACADEMIC PROGRAMS AND BRINGS TOP-FLIGHT SCHOLARS, THOUGHTFUL LECTURERS AND BREATHTAKING PERFORMANCES TO KU. IT ALSO EXPANDS THE SCOPE OF OUTREACH PROGRAMS THROUGHOUT THE STATE AND SUPPORTS VALUABLE ACQUISITIONS BY KU'S LIBRARIES AND MUSEUMS. 70584648 70584648 18660357 FACILITIES SUPPORT--CONSTRUCTION, EQUIPMENT, SUPPLIES AND FURNISHINGS FUNDED BY PRIVATE GIVING. THIS AMOUNT FLUCTUATES FROM YEAR TO YEAR, DEPENDING ON THE TIMELINE OF CONSTRUCTION PROJECTS. THIS YEAR'S INVESTMENT WAS HIGHER THAN RECENT YEARS AS SEVERAL SIGNIFICANT PRIVATELY-FUNDED CONSTRUCTION PROJECTS ARE OCCURING AT KU, INCLUDING A NEW SCHOOL OF BUSINESS, A NEW STUDENT, FACULTY, AND VISITOR CENTER FOR THE SOUTH PART OF CAMPUS, NEW STUDENT HOUSING, AND RENOVATIONS TO A RECITAL HALL IN THE SCHOOL OF MUSIC. MORE THAN TWO-THIRDS OF KANSAS UNIVERSITY BUILDINGS AND ABOUT 85% OF THE LAND AVAILABLE FOR CAMPUS EXPANSION WERE MADE POSSIBLE BY PRIVATE GIFTS. 70584648 70584648 18660357 183804875 1 1 0 1 0 0 0 1 1 1 1 1 0 0 0 0 1 0 0 0 1 0 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 1 1050 0 1 337 1 1 1 0 0 0 0 1 1 1 6 0 0 0 X 12 11 1 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 AK CA KY MD MA MI MN NH NJ OH MO SC UT WA WV OK X X JAMES CLARKE TREASURER 7858327400 1891 CONSTANT AVENUE LAWRENCE KS 660473743 DALE W SEUFERLING PRESIDENT 40.00 0.10 X X 392658 0 128112 D JEROME DAVIES SECRETARY/SRVP DEVELOPMENT 40.00 0.10 X X 239822 0 61395 JEFFREY W DAVIS TREASURER/SR VP FINANCE 40.00 0.10 X X 242896 0 113231 JOHN B DICUS EXEC COMMITTEE-VOLUNTEER 4.00 0.00 X 0 0 0 DAVID B DILLON EXEC COMMITTEE-VOLUNTEER 4.00 0.00 X 0 0 0 WILLIAM R DOCKING EXEC COMMITTEE-VOLUNTEER 4.00 0.00 X 0 0 0 RA EDWARDS EXEC COMMITTEE-VOLUNTEER 3.00 0.00 X 0 0 0 CHARLES E HEATH VICE CHAIR, EXEC COMMITTEE 4.00 0.10 X 0 0 0 A DRUE JENNINGS EXEC COMMITTEE-VOLUNTEER 3.00 0.00 X 0 0 0 MD MICHAELIS EXEC COMMITTEE-VOLUNTEER 4.00 0.00 X 0 0 0 LINDA ELLIS SIMS EXEC COMMITTEE-VOLUNTEER 4.00 0.10 X 0 0 0 STEVE SLOAN EXEC COMMITTEE-VOLUNTEER 4.00 0.00 X 0 0 0 TODD L SUTHERLAND EXEC COMMITTEE-VOLUNTEER 4.00 0.00 X 0 0 0 DEANELL REECE TACHA CHAIR, EXEC COMMITTEE 4.00 0.00 X 0 0 0 ROBER D TAYLOR EXEC COMMITTEE-VOLUNTEER 3.00 0.00 X 0 0 0 KURT D WATSON EXEC COMMITTEE-VOLUNTEER 4.00 0.10 X 0 0 0 REBECCA L BLAESING VP MEDICAL DEVELOPMENT 40.00 0.00 X 152142 0 25757 CLARK CROPP SVP ADMINISTRATION 40.00 0.00 X 190417 0 93823 JAMES R MECHLER ASSOC SVP DEVELOPMENT 40.00 0.00 X 177868 0 48055 WILLIAM S GREEN SVP INFORMATION SYSTEMS 40.00 0.00 X 170461 0 56737 MARK P WILSON AVP CAMPAIGN PLAN & MGMT 40.00 0.00 X 152451 0 20683 MONTE L SOUKUP SVP PROPERTY 40.00 0.00 X 140314 0 35257 1859029 0 583050 25 0 1 0 BLISS SPORTS II LC 209 FALL CREEK RD LAWRENCE KS 66049 CONSTRUCTION SERVICES 10359633 CAMBRIDGE ASSOCIATES LLC 125 HIGH STREET BOSTON MA 02110 INVESTMENT CONSULTING 1858674 GOULD EVANS AFFILIATES LLC 706 MASSACHUSETTS LAWRENCE KS 66044 ARCHITECTURE SERVICES 1150758 ROPES AND GRAY LLP PO BOX 414265 BOSTON MA 02241 LEGAL SERVICES 920461 ECG MANAGEMENT CONSULTANTS 1111 THIRD AVE STE 2500 SEATTLE WA 98101 CONSULTING SERVICES 789718 18 X 22034645 948665 19700579 147341726 11337907 190025615 OTHER REAL ESTATE 531390 3599117 3599117 LOAN INTEREST 522200 1357562 1357562 APARTMENT RENTALS 531110 664770 664770 BUILDING LEASE 531120 217000 217000 5838449 20838602 1978033 -1020853 19881422 1399256 1399256 183854487 2011416 143880770 511633 39973717 1499783 41473500 41473500 5821444 22034645 757315 5064129 5064129 REAL ESTATE INFRASTRUC 531390 11452604 11452604 UNIVERSITY REAL ESTATE 531390 2726866 2726866 AGRICULTURE 110000 2306238 2306238 1714293 1675942 38351 18200001 282839552 23671894 -982502 70124545 183804875 183804875 1394670 888279 506391 10697874 3993690 6704184 1273624 428935 844689 970984 435989 534995 809303 351496 457807 315189 313990 1199 151303 151303 49416 49416 14176593 14176593 397155 153444 243711 693121 39557 653564 755985 248541 507444 96836 96824 12 188803 163608 25195 137322 101576 35746 742753 80475 662278 110018 52939 57079 1661918 1654824 7094 186817 181705 5112 MISCELLANEOUS 78163 63508 14655 UNRELATED BUSINESS TAX 38500 38500 EQUIPMENT & FURNISHINGS 7900 7220 680 218739122 183804875 23622996 11311251 5566690 5678401 55411659 64679166 111792655 111484931 5556957 5744050 60480069 11748640 47185405 48731429 914259789 811411044 609764849 733569833 27357181 27860747 53152800 52092103 1830047985 1861251704 35613526 48554686 68890377 69338694 104503903 117893380 X 191756898 176743230 1105508851 1135555250 428278333 431059844 1725544082 1743358324 1830047985 1861251704 X 64100430 -45402651 -883537 X 0 1 X 1 0 X 109911593 118770141 138630627 186410633 190025615 743748609 109911593 118770141 138630627 186410633 190025615 743748609 61026911 682721698 32853347 28312004 29024307 23410494 29408360 143008512 -10648 -164977 -212239 -1061458 -982502 -2431824 884325297 38426768 0.77200 0.79840 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 0 0 0 0 0 183804875 184809540 183804875 184809540 1000000 1000000 250000 250000 0 0 0 0 1000000 1000000 1000000 1000000 4000000 6000000 250000 250000 250000 250000 1000000 1500000 0 686132 X X X X 0 0 1 X 980592275 74913454 -1631054 14750171 18909114 1020215390 859882814 26053312 126579227 14120401 17802728 980592275 788414325 29680270 70848569 12922126 16138224 859882814 822485264 31575638 -31381920 11694829 22659829 788414325 683222760 28231498 134790574 10034480 13725088 822485264 0.00310 0.37140 0.62550 0 0 13090230 14512910 27603140 29198344 9247226 19951118 3649478 2501414 1148064 29107 29107 48731429 HEDGE FUNDS 485712821 F PRIVATE INVESTMENTS 153352843 F OTHER LLC'S AND LLP'S 92646839 F REAL EST,ROYALTY,&MINERAL INTERESTS 1857330 F 733569833 234871370 -45402651 3242483 -42160168 277031538 5808014 5808014 282839552 217057129 4126021 4126021 212931108 5808014 5808014 218739122 PART III, LINE 4: OVER THE YEARS, DONORS HAVE GIVEN IN-KIND GIFTS OF ART AND LIBRARY COLLECTIONS, OR HAVE ESTABLISHED FUNDS FOR THE PURPOSE OF PURCHASING SUCH ITEMS FOR THE MUSEUMS, LIBRARIES AND TEACHING FACILITIES OF THE UNIVERSITY OF KANSAS. SUCH GIFTS ARE ADMINISTERED BY KU ENDOWMENT IN ACCORDANCE WITH ANY APPROPRIATE DONOR RESTRICTIONS THAT MAY BE PLACED UPON THE GIFT. PART IV, LINE 2B: KU ENDOWMENT HOLDS CERTAIN ENDOWMENT AND OTHER FUNDS ON BEHALF OF AFFILIATES OF THE UNIVERSITY AND OTHER THIRD PARTIES. PART V, LINE 4: ENDOWMENT FUNDS CONSIST OF APPROXIMATELY 3,149 INDIVIDUAL FUND ACCOUNTS ESTABLISHED TO PROVIDE SUPPORT FOR A VARIETY OF UNIVERSITY PROGRAMS ACROSS GENERATIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF LIFE INCOME GIFTS 2,453,655. CHANGE IN NET INTEREST IN KU ENDOWMENT CHARITABLE GIFT FUND 32,985. FUNDRAISING EVENT DIRECT EXPENSES (SEE PART VIII, LINE 8B) 757,315. CHANGE IN VALUE OF LIFE INSURANCE CASH VALUE -1,472. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT DIRECT EXPENSES (SEE PART VIII, LINE 8B) 757,315. AMORTIZATION OF PENSION ADJUSTMENTS 3,368,706. CENTRAL AMERICA AND THE CARIBBEAN - 0 0 INVESTMENTS 313809000 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 1606000 0 0 0 0 0 0 315415000 0 315415000 1 0 1 0 1 0 SCHEDULE F, PART I, LINE 3: THE AMOUNT FOR "INVESTMENTS" REPRESENTS THE TOTAL BOOK VALUE OF ALL INVESTMENTS IN THE REGION AS OF JUNE 30, 2015. SUCH INVESTMENTS BY THE ORGANIZATION ARE PASSIVE AND DO NOT CONSTITUTE ANY ACTIVITY RELATED TO THE ORGANIZATION'S PROGRAM SERVICES. INCOME FROM THESE HOLDINGS ARE REPORTED NET OF RELATED INVESTMENT EXPENSES, WHICH ARE DISCLOSED AS A NOTE TO THE AUDITED FINANCIAL STATEMENT. X X X X X X X 1 GRENZEBACH GLIER AND ASSOCIATES INC 401 N MICHIGAN AVE CHICAGO IL 60611 CAMPAIGN PLANNING, FEASIBILITY ANALYSIS 0 0 49416 -49416 49416 -49416 AK AZ AR CA CO CT HI LA ME MD MA MI MN MS MO NH NJ NY NC OH OK OR SC VA WA WV UT KY 20% OF RIGHT TO PURCHASE TICKETS 25598820 20479056 5119764 CANCER CENTER BENEFIT DINNER 1401106 1024059 377047 78552 222297 159659 22 856163 531530 324633 13300 34598 144570 37978 66361 27856089 22034645 5821444 13300 34598 223122 260275 226020 757315 5064129 1 THE UNIVERSITY OF KANSAS STRONG HALL 1450 JAYHAWK BLVD LAWRENCE KS 66045 486029925 SECTION 115 176334206 STUDENT SCHOLARSHIPS AND FELLOWSHIPS, STUDENT AND FACULTY AWARDS AND PRIZES, FACULTY AND STAFF SALARY SUPPORT, GENERAL PROGRAM AND EDUCATIONAL SUPPORT, AND FACILITIES SUPPORT. THE KANSAS UNIVERSITY ALUMNI ASSOCIATION 1266 OREAD AVENUE LAWRENCE KS 66045 480291250 501(C)(3) 1720510 GENERAL SUPPORT TO FURTHER THE MISSION OF THE ALUMNI ASSOCIATION TO INFORM, ENGAGE, AND MOBILIZE THE KU COMMUNITY. THE UNIVERSITY OF KANSAS HOSPITAL AUTHORITY 3901 RAINBOW BLVD KANSAS CITY KS 66160 481202402 SECTION 115 5750159 SALARY AND FACILITY SUPPORT FOR THE UNIVERSITY OF KANSAS HOSPITAL. 3 0 PART I, LINE 2: MANY DISBURSEMENTS IN FURTHERANCE OF THE INSTITUTION'S EXEMPT PROGRAMS ARE MADE FOR STUDENT SCHOLARSHIPS OR FOR UNIVERSITY EMPLOYEE SALARIES AND SIMILAR EXPENSES WHICH ARE DISBURSED DIRECTLY TO THE UNIVERSITY OF KANSAS, AND WHICH ARE INCURRED DIRECTLY IN THE ACTIVE CONDUCT OF ACTIVITIES CONSTITUTING THE EXEMPT PURPOSE OR FUNCTION FOR WHICH THE INSTITUTION IS ORGANIZED AND OPERATED. OTHER DISBURSEMENTS IN FURTHERANCE OF THE INSTITUTION'S EXEMPT PROGRAMS ARE MADE FOR THE DIRECT BENEFIT OF THE UNIVERSITY OF KANSAS, IN ACCORDANCE WITH ACCOUNTABLE PLAN PROCEDURES AND ARE SUBJECT TO CONDITIONS ESTABLISHED BY THE INSTITUTION'S GOVERNING BOARD DESIGNED TO ENSURE THAT INDIVIDUALS AND ORGANIZATIONS RECEIVING DISBURSEMENTS FROM THE ORGANIZATION IN FURTHERANCE OF ITS EXEMPT PROGRAMS ARE ADEQUATELY INVESTIGATED TO ENSURE THAT THEY ARE QUALIFYING RECIPIENTS. STUDENTS RECEIVING SCHOLARSHIPS AND FELLOWSHIPS ARE JUDGED WORTHY BY THE UNIVERSITY'S ASSESSMENT ON THE BASIS OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED AND SIMILAR STANDARDS, IN ACCORDANCE WITH APPLICABLE GIFT INSTRUMENTS. X X 1 1 X X X X 0 1 0 0 0 0 0 1 0 DALE W SEUFERLING PRESIDENT 392658 0 0 0 0 0 116544 0 11568 0 520770 0 0 0 D JEROME DAVIES SECRETARY/SRVP DEVELOPMENT 237322 0 2500 0 0 0 49940 0 11455 0 301217 0 0 0 JEFFREY W DAVIS TREASURER/SR VP FINANCE 242896 0 0 0 0 0 104222 0 9009 0 356127 0 0 0 REBECCA L BLAESING VP MEDICAL DEVELOPMENT 152142 0 0 0 0 0 25306 0 451 0 177899 0 0 0 CLARK CROPP SVP ADMINISTRATION 190417 0 0 0 0 0 84868 0 8955 0 284240 0 0 0 JAMES R MECHLER ASSOC SVP DEVELOPMENT 175868 0 2000 0 0 0 36767 0 11288 0 225923 0 0 0 WILLIAM S GREEN SVP INFORMATION SYSTEMS 170461 0 0 0 0 0 51002 0 5735 0 227198 0 0 0 MARK P WILSON AVP CAMPAIGN PLAN & MGMT 152451 0 0 0 0 0 20240 0 443 0 173134 0 0 0 MONTE L SOUKUP SVP PROPERTY 137814 0 2500 0 0 0 24062 0 11195 0 175571 0 0 0 PART I, LINE 1A REGARDING TRAVEL FOR COMPANIONS, KU ENDOWMENT'S WRITTEN GUIDELINES ARE AS FOLLOWS: "FOR SPOUSE EXPENSES TO BE REIMBURSABLE, THE EXPENSE MUST BE REQUIRED BY YOUR SUPERVISOR AND IT IS EXPECTED THAT THE EVENT IN WHICH YOUR SPOUSE IS INCLUDED WILL INCLUDE SPOUSES OF GUESTS, AND BOTH REQUIREMENTS SHOULD BE STATED ON THE REIMBURSEMENT REQUEST." IN KEEPING WITH THIS POLICY, TRAVEL EXPENSES WERE REIMBURSED, AND NOT TREATED AS COMPENSATION, FOR A SPOUSE TO ACCOMPANY AN OFFICER TO ASSIST IN A VOLUNTEER CAPACITY WITH DONOR DEVELOPMENT AT SEVERAL EVENTS, WHICH ALSO REQUIRED ATTENDANCE BY THE OFFICER. COUNTRY CLUB DUES WERE PAID ON BEHALF OF TWO OFFICERS AND TWO HIGHLY COMPENSATED EMPLOYEES TO PROMOTE FUNDRAISING EFFORTS. THESE AMOUNTS ARE TREATED AS COMPENSATION TO THESE EMPLOYEES. PART I, LINE 4B ONE OFFICER MEETS THE CRITERIA TO PARTICIPATE IN THE NONQUALIFIED RETIREMENT PLAN AS OF THE PARTICIPANT'S NORMAL RETIREMENT DATE, SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE. THE AMOUNT INCLUDED IN COLUMN (C) AS DEFERRED COMPENSATION FOR DALE W. SEUFERLING ATTRIBUTABLE TO THE NONQUALIFIED RETIREMENT PLAN IS $83,323. PART I, LINE 7 THREE "HIGHEST COMPENSATED EMPLOYEES" RECEIVED A BONUS PAYMENT THAT RESULTED FROM KU ENDOWMENT'S ANNUAL REVIEW OF ALL EMPLOYEE'S COMPENSATION. THE BONUS WAS FOR EXEMPLARY SERVICE DURING THE YEAR, AS APPROVED BY THE EXECUTIVE STAFF COMPENSATION COMMITTEE, AND THAT, WHEN COMBINED WITH EACH EMPLOYEES' REGULAR COMPENSATION, IS WITHIN THE BENCHMARK RANGE OF COMPARABLE SALARIES FOR EACH POSITION WITHIN KU ENDOWMENT'S MARKET PEERS. RA EDWARDS EXECUTIVE COMMITTEE OF KU ENDOWMENT 173557 SEE PART V - R.A. EDWARDS IS CHAIRMAN OF FIRST NATIONAL BANK OF HUTCHINSON, WHICH MANAGES INCOME-PRODUCING FARM PROPERTIES HELD BY KU ENDOWMENT. THE TRANSACTIONS ARE CONDUCTED AT ARM'S LENGTH AND APPROVED BY EXECUTIVE STAFF BASED ON AUTHORITY FROM THE EXECUTIVE COMMITTEE. 0 KURT D WATSON EXECUTIVE COMMITTEE OF KU ENDOWMENT 350596 SEE PART V - KURT WATSON IS PRESIDENT OF THE IMA FINANCIAL GROUP, WHICH RECEIVES FEES AS AN INSURANCE CONSULTANT AND BROKER. THE TRANSACTIONS ARE CONDUCTED AT ARM'S LENGTH AND APPROVED BY EXECUTIVE STAFF BASED ON AUTHORITY FROM THE EXECUTIVE COMMITTEE. 0 X 375 11121535 FMV X 2 140872 FMV (SAME AS PROCEEDS) X 1 75500 MARKET COMPARABLES 3 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF DONORS. FORM 990, PART VI, SECTION A, LINE 2 JOHN DICUS, DAVID DILLON, M.D. MICHAELIS, ROBERT TAYLOR, AND KURT WATSON HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 7A THE BYLAWS OF THE ORGANIZATION PROVIDE FOR A BOARD OF TRUSTEES TO BE COMPRISED OF 50 TO 75 MEMBERS. NONE OF WHICH RECEIVE COMPENSATION FOR THEIR POSITION AS TRUSTEE. THE BOARD OF TRUSTEES ARE RESERVED A LIMITED NUMBER OF POWERS WHICH INCLUDE: 1.) ELECTION OR REMOVAL OR TO FILL VACANCIES IN THE EXECUTIVE COMMITTEE; AND 2.) ELECTION OF THE CHAIR OF THE EXECUTIVE COMMITTEE. THE OTHER POWERS PROVIDED TO THE MEMBERS OF THE BOARD OF TRUSTEES ARE OUTLINED IN THE EXPLANATION TO QUESTION 7B BELOW. FORM 990, PART VI, SECTION A, LINE 7B THE LIMITED POWERS OF THE MEMBERS OF THE BOARD OF TRUSTEES OF THE ORGANIZATION ALSO INCLUDE: 1.) ELECTION OR REMOVAL OR TO FILL VACANCIES OF THE MEMBERS OF THE BOARD OF TRUSTEES; 2.) CHANGE IN THE NUMBER OF MEMBERS OF THE BOARD OF TRUSTEES; 3.) AMENDMENT OF THE ARTICLES OF INCORPORATION; AND 4.) LIQUIDATION OR DISSOLUTION OF KU ENDOWMENT, OR DISPOSITION OF ALL, OR SUBSTANTIALLY ALL, OF THE ASSETS OF KU ENDOWMENT, OR ANY MERGER OF KU ENDOWMENT INTO OR WITH ANOTHER CORPORATION. THE BYLAWS DO NOT GRANT THE MEMBERS OF THE BOARD OF TRUSTEES ANY OTHER POWERS OTHER THAN THOSE INDICATED ABOVE. A FULL LIST OF THE MEMBERS OF THE BOARD OF TRUSTEES CAN BE FOUND ON THE ORGANIZATION'S WEBSITE: WWW.KUENDOWMENT.ORG FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS PREPARED INTERNALLY BY THE TAX AND COMPLIANCE REPORTING OFFICER. AN INTERNAL REVIEW OF THE RETURN IS COMPLETED BY APPROPRIATE KU ENDOWMENT PERSONNEL. AN EXTERNAL TAX PREPARER THEN COMPLETES A REVIEW OF THE RETURN. A DRAFT COPY OF FORM 990 IS PROVIDED TO THE AUDIT COMMITTEE TO REVIEW AND RECOMMEND REVISIONS. ANY SUCH RECOMMENDATIONS ARE PROVIDED IN A TIMELY MANNER TO INCORPORATE THEM IN THE RETURN BEFORE TRANSMITTAL TO THE IRS. THE AUDIT COMMITTEE REVIEWS THE 990 ON BEHALF OF THE GOVERNING BODY (THE EXECUTIVE COMMITTEE) AND RECOMMENDS APPROVAL OF THE 990 BY THE EXECUTIVE COMMITTEE. THE FINAL VERSION OF THE 990 IS PLACED ON THE TRUSTEE INTRANET FOR THE EXECUTIVE COMMITTEE TO REVIEW PRIOR TO FILING. AFTER TRANSMITTAL OF THE FINAL RETURN TO THE IRS, A COPY OF THE RETURN IS PLACED ON THE ORGANIZATION'S PUBLIC WEBSITE. FORM 990, PART VI, SECTION B, LINE 12C AN ANNUAL CONFLICT OF INTEREST DISCLOSURE IS REQUESTED FROM ALL CURRENT MEMBERS OF THE BOARD OF TRUSTEES, OFFICERS AND EMPLOYEES. TO MONITOR AND ENFORCE COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY, UPON DISCLOSURE OF A CONFLICT OF INTEREST, THE CHAIR OF THE EXECUTIVE COMMITTEE OR COMMITTEE SHALL, IF APPROPRIATE APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE EXECUTIVE COMMITTEE OR COMMITTEE SHALL DETERMINE WHETHER KU ENDOWMENT CAN OBTAIN A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT WITH REASONABLE EFFORTS FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY ATTAINABLE UNDER CIRCUMSTANCES THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST, THE EXECUTIVE COMMITTEE OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED MEMBERS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN KU ENDOWMENT'S BEST INTEREST AND FOR ITS OWN BENEFIT AND WHETHER THE TRANSACTION IS FAIR AND REASONABLE TO KU ENDOWMENT AND SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT IN CONFORMITY WITH SUCH DETERMINATION. IF THE EXECUTIVE COMMITTEE OR A STANDING COMMITTEE HAS REASONABLE CAUSE TO BELIEVE THAT A TRUSTEE HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE TRUSTEE OF THE BASIS FOR SUCH BELIEF AND AFFORD THE TRUSTEE AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE RESPONSE OF THE TRUSTEE AND MAKING SUCH FURTHER INVESTIGATION AS MAY BE WARRANTED IN THE CIRCUMSTANCES, THE EXECUTIVE COMMITTEE OR A STANDING COMMITTEE DETERMINES THAT THE TRUSTEE HAS IN FACT FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF OFFICERS AND SUCH OTHER PERSONS AS DESIGNATED BY THE EXECUTIVE COMMITTEE SHALL BE DETERMINED BY THE COMPENSATION COMMITTEE AND BE CONFIRMED BY THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE MAY ADJUST COMPENSATION DETERMINED BY THE COMPENSATION COMMITTEE WHENEVER, IN ITS JUDGMENT, THE BEST INTERESTS OF KU ENDOWMENT WOULD BE SERVED THEREBY. A COMPENSATION COMMITTEE OF NOT LESS THAN FIVE NOR MORE THAN SEVEN TRUSTEES SHALL BE APPOINTED ANNUALLY BY THE CHAIR OF THE EXECUTIVE COMMITTEE. THE CHAIR OF THE EXECUTIVE COMMITTEE SHALL DESIGNATE ONE COMPENSATION COMMITTEE MEMBER AS CHAIR. A MAJORITY IN NUMBER OF THE COMMITTEE SHALL CONSTITUTE A QUORUM. THE COMPENSATION COMMITTEE MUST CONSIST OF INDIVIDUALS WHO (I) DO NOT HAVE A CONFLICT OF INTEREST WITH RESPECT TO COMPENSATION ARRANGEMENTS OR TRANSACTIONS; (II) HAVE OBTAINED AND RELIED UPON APPROPRIATE DATA AS TO COMPARABILITY PRIOR TO MAKING ANY DETERMINATION; AND (III) ADEQUATELY DOCUMENT THE BASIS FOR COMMITTEE DECISIONS CONCURRENTLY WITH MAKING DETERMINATIONS. THE COMMITTEE IS DIRECTED TO ACT IN A MANNER THAT WILL AVOID THE INTERMEDIATE SANCTIONS PROVISIONS OF THE INTERNAL REVENUE CODE. ITS DUTIES SHALL BE THE REVIEW, STUDY AND RECOMMENDATION OF REASONABLE AND NECESSARY COMPENSATION FOR OFFICERS AND EMPLOYEES OF KU ENDOWMENT AND ANY AND ALL SUCH ADDITIONAL FUNCTIONS AS MAY FROM TIME TO TIME BE DESIGNATED BY THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 18 KU ENDOWMENT WAS GRANTED AN EXEMPTION FROM FEDERAL INCOME TAX IN 1934, AND RECEIVED ADDITIONAL CONFIRMATIONS OF THIS EXEMPTION OVER THE YEARS, AND MOST RECENTLY ON OCTOBER 18, 2010. A COPY OF THE LATTER IS AVAILABLE ON THE ORGANIZATION'S WEBSITE UNDER THE TAB, "ACCOUNTABILITY," "FINANCIALS AND FORMS," "IRS DETERMINATION LETTER." FORM 990, PART VI, SECTION C, LINE 19 KU ENDOWMENT'S FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE UNDER THE TAB "ACCOUNTABILITY," "FINANCIALS AND FORMS," "2015 AUDIT REPORT." ALSO, A COPY OF THE ORGANIZATION'S CURRENTLY FILED FORM 990 IS AVAILABLE IN THE SAME LOCATION ON THE ORGANIZATION'S WEBSITE. SCHEDULE O OF THE FORM 990 PROVIDES A DESCRIPTION OF THE ORGANIZATION'S CONFLICT OF INTEREST POLICY AND CERTAIN OTHER ASPECTS OF ITS GOVERNING DOCUMENTS, SUCH AS TRUSTEE ELECTIONS AND VOTING POWERS. PART VIII, LINE 11A RCP, LLC IS A SINGLE-MEMBER LLC OWNED BY THE ORGANIZATION. THE CITY OF LAWRENCE, KS, OWNS A PIECE OF LAND ADJOINING LAND OWNED BY RCP, LLC. THE LAND OWNED BY RCP IS PART OF A LAND LEASE FOR UNIVERSITY OF KANSAS ATHLETIC FACILITIES. THE CITY OF LAWRENCE BUILT A COMMUNITY RECREATION CENTER ON THE ADJOINING PROPERTY DURING THE FISCAL YEAR. AS PART OF THE DEVELOPMENT OF THIS ADJOINING PROPERTY THE CITY OF LAWRENCE AGREED TO REIMBURSE THE DEVELOPER FOR THE COSTS INCURRED FOR ANY INFRASTRUCTURE COSTS THAT WOULD BENEFIT THE ADJOINING PROPERTIES. THIS AGREEMENT PROVIDED FOR THE CITY OF LAWRENCE TO REIMBURSE RCP, LLC FOR THESE INFRASTRUCTURE COSTS, WHO WOULD THEN IMMEDIATELY REIMBURSE THE CONTRACTOR FOR THESE COSTS. THE TOTAL AMOUNT OF THE REIMBURSEMENT OF THE INFRASTRUCTURE COSTS WAS $11,452,604. THIS AMOUNT WAS RECORDED AS "OTHER RECEIPTS AND WAS ASSOCIATED WITH ITS PROGRAM SERVICE OF "FACILITIES SUPPORT" FOR THE UNIVERSITY OF KANSAS. UPON RECEIPT OF THESE FUNDS, THE CONTRACTOR WHO INCURRED THE INFRASTRUCTURE COSTS WAS IMMEDIATELY REIMBURSED. PART VIII, LINE 11B DURING THE FISCAL YEAR, THERE WERE SEVERAL TRANSACTIONS RELATED TO REAL ESTATE USED TO SUPPORT THE UNIVERSITY OF KANSAS. ONE TRANSACTION INVOLVED THE CANCELATION OF A LEASE FOR A BUILDING THAT THE ORGANIZATION WAS LEASING TO THE UNIVERSITY OF KANSAS, IN EXCHANGE FOR ANOTHER PIECE OF REAL ESTATE ON THE MEDICAL CENTER CAMPUS. THE CANCELATION OF THE LEASE RESULTED IN $1,193,829 OF RENTAL PAYMENTS BEING RETURNED TO THE ORGANIZATION. THESE WERE RECORDED AS "OTHER RECEIPTS AND WAS ASSOCIATED WITH ITS PROGRAM SERVICE OF "FACILITIES SUPPORT" FOR THE UNIVERSITY OF KANSAS. ALSO, FUNDS TOTALING $1,533,037 WERE TRANSFERRED TO ONE OF THE ORGANIZATION'S FUND ACCOUNTS FROM A TRUST ADMINISTERED BY THE UNIVERSITY, AT THE REQUEST OF THE UNIVERITY, IN ORDER TO FULFILL ONE OF ITS INTENDED PURPOSES, THE SUPPORT REPAIRS AND RENOVATIONS TO ONE UNIVERSITY'S SCHOLARSHIP HALL HOUSING UNITS. FORM 990, PART XI, LINE 9: AMORTIZATION OF PENSION ADJUSTMENTS -3,368,706. CHANGE IN NET INTEREST IN KU ENDOWMENT CHARITABLE GIFT FUND 32,985. CHANGE IN VALUE OF LIFE INCOME GIFTS 2,453,655. CHANGE IN VALUE OF LIFE INSURANCE -1,471. CWAPTS LLC PO BOX 928 LAWRENCE KS 660440928 453170274 RENTAL REAL ESTATE KS 285630 3337679 THE KANSAS UNIVERSITY ENOWMENT ASSOCIATION RGAPTS LLC PO BOX 928 LAWRENCE KS 660440928 461289542 RENTAL REAL ESTATE KS 144896 1124038 THE KANSAS UNIVERSITY ENOWMENT ASSOCIATION RCP LLC PO BOX 928 LAWRENCE KS 660440928 320392147 RENTAL REAL ESTATE KS 14693502 2791264 THE KANSAS UNIVERSITY ENOWMENT ASSOCIATION FOBN LLC PO BOX 928 LAWRENCE KS 660440928 262224126 RENTAL REAL ESTATE KS 185000 5104304 THE KANSAS UNIVERSITY ENOWMENT ASSOCIATION THE KU ENDOWMENT CHARITABLE GIFT FUND PO BOX 928 LAWRENCE KS 660440928 200317170 SUPPORT FOR KU ENDOWMENT AND 501(C)(3)'S NAMED IN GOVERNING DOCUMENT. KS 501(C)(3) 11A, TYPE I KANSAS UNIVERSITY ENDOWMENT ASSOCIATION 1 LEON KARELITZ CHARITABLE TRUST PO BOX 928 LAWRENCE KS 660440928 616400249 SUPPORT FOR KU ENDOWMENT PURSUANT TO GOVERNING DOCUMENT. KS 501(C)(3) 11A, TYPE I KANSAS UNIVERSITY ENDOWMENT ASSOCIATION 1 VIRGIL AND PAULINE BROWN MEMORIAL TRUST PO BOX 928 LAWRENCE KS 660440928 467074121 SUPPORT FOR KU ENDOWMENT PURSUANT TO GOVERNING DOCUMENT. KS 501(C)(3) 11A, TYPE I KANSAS UNIVERSITY ENDOWMENT ASSOCIATION 1 CHARITABLE REMAINDER TRUSTS (53) SPLIT INTEREST TRUSTS PROVIDING SUPPORT TO KU ENDOWMENT ASSOCIATION KS N/A T 0 CHARITABLE REMAINDER TRUST (1) SPLIT INTEREST TRUST PROVIDING SUPPORT TO KU ENDOWMENT ASSOCIATION IL N/A T 0 CHARITABLE REMAINDER TRUSTS (3) SPLIT INTEREST TRUSTS PROVIDING SUPPORT TO KU ENDOWMENT ASSOCIATION MO N/A T 0 CHARITABLE LEAD TRUSTS (2) SPLIT INTEREST TRUSTS PROVIDING SUPPORT TO KU ENDOWMENT ASSOCIATION OH N/A T 0 LORRAINE M LOVE CHARITABLE REMAINDER UNITRUST PO BOX 700 JUNCTION CITY KS 66441 481247473 SEC. 4947(A)(1) NONEXEMPT CHARITABLE TRUST SUPPORTING KU ENDOWMENT KS N/A T 11745 119546 1.00000 0 AGNES LAURETTA MCCLAIR TEST TRUST C/O BNK OF AMERICA PO BOX 831041 DALLAS TX 75283 486126736 SEC. 4947(A)(1) NONEXEMPT CHARITABLE TRUST SUPPORTING KU ENDOWMENT KS N/A T 31546 888014 1.00000 0 MARY SELLARS FUND C/O BNK OF AMERICA PO BOX 831041 DALLAS TX 75283 486203686 SEC. 4947(A)(1) NONEXEMPT CHARITABLE TRUST SUPPORTING KU ENDOWMENT KS N/A T 6049 305565 1.00000 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 THE KU ENDOWMENT CHARITABLE GIFT FUND C 886399 CASH THE KU ENDOWMENT CHARITABLE GIFT FUND PO BOX 928 LAWRENCE KS 660440928 200317170 0 0 0 942399 942399 166360 41590 0 0 0 LEON KARELITZ CHARITABLE TRUST PO BOX 928 LAWRENCE KS 660440928 616400249 0 0 0 27147 27147 5429 1357 0 0 0 VIRGIL AND PAULINE BROWN MEMORIAL TRUST PO BOX 928 LAWRENCE KS 660440928 467074121 0 0 0 35119 35119 7024 1756 0 0 0