2016-05-16T08:55:51-05:00 2015-06-30 BDO USA LLP 8401 GREENSBORO DRIVE SUITE 800 MCLEAN VA 22102 990 2014-07-01 546046419 UNIVERSITY OF VIRGINIA DARDEN SCHOOL FOUNDATION % CHARLES L HECKEL UNIV 4349247228 PO BOX 7263 CHARLOTTESVILLE VA 22906 CHARLES L HECKEL TREASURER 7038930600 2016-05-11 true Joyce Underwood P00022361 7038930600 2014 2016-08-17 19:52:53Z Locke W Ogens po box 7263 CHARLOTTESVILLE VA 22906 58885446 false X www.darden.virginia.edu X 1952 VA See Schedule O 45 40 192 745 1669928 -40125 15464522 10362540 21944668 23335364 4540371 10077893 399816 265960 42349377 44041757 12656055 14239716 0 0 11648447 12396423 0 52247 2406219 15626422 15611967 39930924 42300353 2418453 1741404 397644618 409161516 22571977 20507072 375072641 388654444 SEE SCHEDULE O false false 36432027 14239716 23582324 The University of Virginia Darden School Foundation's primary purpose is to promote the advancement and further the aims and purposes of the University of Virginia Darden School of Business. To achieve this purpose, the Foundation manages endowment funds for the exclusive benefit of the Darden School, operates top-ranked Executive Education programs, the Inn at Darden and Abbott Center Hospitality, and promotes philanthropic support of the school by alumni, friends, and corporations. Funds provided annually to the School by the Foundation contribute to all phases of life at Darden. 36432027 true true false false false false false false false true true true false true true true true true false true true false false true false false false true false true false false false false false false false false true false false false false true false false false true 212 0 true 192 true true true false false false false false false false false false false false false X 45 40 true false false false false false false true true false false true true true true true true true true false AL AK AR CA CO CT DC FL GA HI IL KS KY LA ME MD MA MI MN MS MO NV NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI X CHARLES L HECKEL 4349247228 100 DARDEN BLVD CHARLOTTESVILLE VA 22903 X Kirby C Adams Trustee 1.0 0.0 X 0 0 0 WL Lyons Brown III Trustee 1.0 0.0 X 0 0 0 G David Cheek Trustee 1.0 0.0 X 0 0 0 James Su-Ting Cheng Trustee 1.0 0.0 X 0 0 0 James A Cooper Trustee, Chairman 1.0 0.0 X X 0 0 0 Vidyanidhi N Dalmia Trustee 1.0 0.0 X 0 0 0 Karen K Edwards Ex-Officio Trustee 1.0 0.0 X 0 0 0 Louis G Elson Trustee 1.0 0.0 X 0 0 0 Arnold Evans Trustee 1.0 0.0 X 0 0 0 John Fowler Ex-Officio Trustee 1.0 0.0 X 0 0 0 Cathy Friedman Trustee 1.0 0.0 X 0 0 0 Donald W Goodman Trustee 1.0 0.0 X 0 0 0 Kirsti Goodwin Trustee 1.0 0.0 X 0 0 0 Gordie Grand Trustee 1.0 0.0 X 0 0 0 Edwin B Hooper III Trustee 1.0 0.0 X 0 0 0 Robert J Hugin Trustee 1.0 0.0 X 0 0 0 Martina T Hund-Mejean Trustee 1.0 0.0 X 0 0 0 William I Huyett Trustee 1.0 0.0 X 0 0 0 Philip W Knisely Trustee 1.0 0.0 X 0 0 0 Lemeul E Lewis Trustee 1.0 0.0 X 0 0 0 Nicole Lindsay Trustee 1.0 0.0 X 0 0 0 Liz Lynch Trustee 1.0 0.0 X 0 0 0 Jonathan Mariner Ex-Officio Trustee 1.0 0.0 X 0 0 0 Carolyn S Miles Trustee 1.0 0.0 X 0 0 0 Douglas Moore Ex-Officio Trustee 1.0 0.0 X 0 0 0 Michael O'Neill Trustee 1.0 0.0 X 0 0 0 Richard M Paschal Ex-Officio Trustee 1.0 0.0 X 0 0 0 Jerry Peng Trustee 1.0 0.0 X 0 0 0 Scott A Price Trustee 1.0 0.0 X 0 0 0 Gary Roughead Trustee 1.0 0.0 X 0 0 0 Frank M Sands Sr Trustee 1.0 0.0 X 0 0 0 Frank M Sands Jr Trustee 1.0 0.0 X 0 0 0 Henry F Skelsey Trustee 1.0 0.0 X 0 0 0 Susan Sobbott Trustee 1.0 0.0 X 0 0 0 John R Strangfeld Trustee 1.0 0.0 X 0 0 0 George S Tahija Trustee 1.0 0.0 X 0 0 0 Bruce R Thompson Trustee 1.0 0.0 X 0 0 0 Bill Utt Trustee 1.0 0.0 X 0 0 0 Tom Watjen Trustee 1.0 0.0 X 0 0 0 Roger L Werner Jr Trustee 1.0 0.0 X 0 0 0 Elizabeth K Weymouth Trustee, Vice Chairman 1.0 0.0 X X 0 0 0 Susan Chaplinsky Trustee 1.0 50.0 X 0 318511 62449 Luann J Lynch Trustee 1.0 50.0 X 48100 303004 93328 Robert F Bruner Ex-Officio Trustee 1.0 50.0 X 0 513780 76342 Teresa A Sullivan Ex-Officio Trustee 1.0 50.0 X 0 630288 287272 John Simon Ex-Officio Trustee 1.0 50.0 X 0 403276 160730 Eugene Meoni GM OF HOSPITALITY 50.0 0.0 X 210095 0 42225 Michael J Woodfolk SR EXEC DIR OF ENG STRATEGIES 50.0 0.0 X 237103 0 30965 W Carter Hoerr Senior Development Officer 50.0 0.0 X 218023 0 40337 Locke W Ogens SR EX DIR OF DSF AND STRAT REL 50.0 0.0 X 253674 0 48512 Gerald D Starsia Senior Associate Dean & COO 1.0 50.0 X 0 296427 89487 CHARLES L HECKEL TREASURER 50.0 0.0 X 85002 0 0 Scott Snell SR ASSOC DEAN FOR EXEC EDUCAT 0.0 50.0 X 52500 344300 69903 Luciano Centini Managing Director of EE 50.0 0.0 X 219898 0 39720 Dean W Kreymeyer Exec Dir IBIS and BRICE 50.0 0.0 X 181081 0 38449 Jeffrey Pottinger Senior Director of EE 50.0 0.0 X 198564 0 19150 Colin Winter Senior Director of EE 50.0 0.0 X 208439 0 41203 Kenneth M Eades Ex-Officio Trustee 1.0 50.0 X 8900 347597 78038 Erika Jamesuntil 630 Former Sr Assoc Dean - Exec Ed 0.0 50.0 X 0 189377 28994 1921379 3346560 1247104 18 true true false Univ of VA Investment Management C PO Box 400215 CHARLOTTESVILLE VA 22906 Investment Mgmt. 774401 Clearview Consulting Company PO BOX 72 HOLDEN MA 01520 Teaching/Cons. Serv. 312585 ROBERT L CARRAWAY 1813 Hearthglow Lane CHARLOTTESVILLE VA 22901 Teaching Services 193817 MARTIN N DAVIDSON PO Box 5101 CHARLOTTESVILLE VA 85004 Teaching Services 148700 JOSEPHINE Hernandez-Gutierrez 1000 Crowley Road ARLINGTON TX 76012 Teaching/Cons. Serv. 144700 7 10362540 2435864 10362540 EXECUTIVE EDUCATION 721110 23335364 21684436 1650928 23335364 1261831 1261831 0 0 0 0 0 23659751 14843689 8816062 8816062 8816062 0 0 0 ALUMNI RELATIONS REUNION FEES 900099 161530 161530 PARKING REVENUE 900099 73416 73416 FEE REVENUES 900099 31014 12014 19000 265960 44041757 21931396 1669928 10077893 X 14239716 14239716 0 0 0 1784805 1071594 434659 278552 0 8139104 6229636 901817 1007651 736320 568974 62606 104740 1144991 906072 117492 121427 591203 460936 47888 82379 0 21237 6118 13632 1487 112699 112699 0 52247 52247 530069 530069 6309319 5648009 641486 19824 699140 663163 1889 34088 2075787 1841206 71952 162629 270906 124148 141119 5639 0 1527217 1359555 70896 96766 2225535 1712041 145649 367845 0 185432 85452 27858 72122 0 0 66269 59696 6573 130582 79150 51432 COGS 1250483 1250483 BAD DEBT EXPENSE 40478 71364 1186 -32072 USE/FOREIGN TAX 35394 35394 MISCELLANEOUS EXPENSE 131420 19320 81205 30895 42300353 36432027 3462107 2406219 274245 447617 2098568 3338756 16016731 12127249 4335496 4438782 0 0 0 0 0 0 75796 44967 518360 446436 6302740 4171364 2316621 2131376 35728651 37354056 272023971 287185298 0 0 0 0 64256179 61646979 397644618 409161516 2382090 3122011 0 0 1179926 1140424 0 0 0 0 0 0 0 0 0 0 19009961 16244637 22571977 20507072 X 95854827 96773612 136830133 144935417 142387681 146945415 375072641 388654444 397644618 409161516 1741404 11840399 X X false true X true false X X 1 UNIVERSITY OF VIRGINIA SCHOOL OF BUSINESS 546001796 6 true 14239716 0 1 14239716 0 true false false false false false false false false false false false false false false true true true X Schedule A, Part IV, Section D, Line 3: The President of the University, Dean of the Darden School, and the COO of the Darden School have ex-officio positions on the foundation, and provides school and Foundation information and needs to the Board of Trustees. Schedule A, Part IV, Section E, Line 1c: Provided monetary support to the University of Virginia's Darden School of Business. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 298999049 4657600 20802331 11207771 530069 312721140 252819140 11262981 44470779 8723608 830243 298999049 241115507 6384317 28836732 22677416 840000 252819140 232372468 10728057 10331210 11543387 772841 241115507 192879265 9853444 42691784 12363368 688657 232372468 0.10410 0.46989 0.42601 false false 4606289 2667882 1938407 872438 692242 180196 824013 811240 12773 2131376 UVIMCO MANAGED FUNDS 287185298 F 287185298 OTHER ASSETS 773890 RIGHTS OF OCCUPANCY 60873089 61646979 0 NOTES PAYABLE TO UVA 16244637 16244637 X 55805130 11840399 453043 12293442 43511688 530069 530069 44041757 42223327 453043 453043 41770284 530069 530069 42300353 Part V, line 4: The Foundation's endowment supports the Darden School through scholarships, chairs, research, educational programs, and alumni services. Part X, Line 2: THE FOUNDATION HAS BEEN GRANTED EXEMPTION BY THE INTERNAL REVENUE SERVICE (IRS) FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE IRS HAS ALSO DETERMINED THAT THE FOUNDATION IS NOT A PRIVATE FOUNDATION. THE FOUNDATION IS REQUIRED TO REPORT AND PAY TAXES ON UNRELATED BUSINESS INCOME TO THE IRS AND OTHER LOCAL JURISDICTIONS. THERE WAS NO LIABILITY FOR UNRELATED BUSINESS INCOME TAXES AS OF JUNE 30, 2015 AND 2014. THE FOUNDATION ALSO FOLLOWS THE PROVISIONS OF FASB ASC TOPIC 740-10, INCOME TAXES. MANAGEMENT BELIEVES IT HAS NO MATERIAL UNCERTAIN TAX POSITIONS OR ANY RELATED PENALTIES AND INTEREST TO ACCRUE FOR THE YEARS ENDED JUNE 20, 2015 AND 2014, AND, ACCORDINGLY, THERE IS NO LIABILITY FOR UNRECOGNIZED TAX BENEFITS. East Asia and the Pacific 10 Program Services Executive Education 280042 North America 5 Program Services Executive Education 13269 Europe (Including Iceland and Greenland) 4 Program Services Executive Education 18891 19 19 312202 312202 false false false false false false X X X X X true JOURNEY GROUP SEE PART IV 418 4TH STREET NE CHARLOTTESVILLE VA 22902 design and consulting false 52247 52247 AL AK AR CA CO CT DC FL GA HI IL KS KY LA ME MD MA MI MN MS MO NV NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI SCHEDULE G, PART I, LINE 2b: 1. Journey Group 418 4th Street, NE, Charlottesville, VA 22902 true University of Virginia Darden School of Business PO Box 6550 Charlottesville VA 22906 546001796 STATE OF VA 13436330 see part iv University of Virginia Darden School of Business PO Box 6550 Charlottesville VA 22906 546001796 STATE OF VA 401693 See part IV University of Virginia Curry School of Education PO Box 400276 Charlottesville VA 22906 546001796 STATE OF VA 401693 See part IV 1 0 SCHEDULE I, PART I, LINE 2: The Darden School accounting office reviews supporting documents to ensure compliance with the donor's restricted purpose prior to requesting funding from the Foundation. The Darden School receives a yearly review and report by the UVA internal audit department to ensure donor intention is met. This report is provided to the Darden School foundation and is reviewed by management. SCHEDULE I, PART II: GRANTS ARE TO UNIVERSITY OF VIRGINIA SCHOOLS: (1) University of Virginia Darden School of Business - SCHOLARSHIPS, CHAIRS, RESEARCH, FACILITIES, & EDUCATIONAL PROGRAMS (2) University of Virginia Darden School of Business - Partners in Educational Leadership Program (3) University of Virginia Curry School of Education - Partners in Educational Leadership Program X true true X X X X X false true false false false false false false true Susan Chaplinsky Trustee 0 318511 0 0 0 0 0 27416 0 35033 0 380960 0 0 Luann J Lynch Trustee 48100 303004 0 0 0 0 0 26151 0 67177 48100 396332 0 0 Kenneth M Eades Ex-Officio Trustee 8900 347597 0 0 0 0 0 27083 0 50955 8900 425635 0 0 Robert F Bruner Ex-Officio Trustee 0 513780 0 0 0 0 0 53966 0 22376 0 590122 0 0 Teresa A Sullivan Ex-Officio Trustee 0 630288 0 0 0 0 0 232166 0 55106 0 917560 0 0 Scott Snell SR ASSOC DEAN FOR EXEC EDUCAT 52500 344300 0 0 0 0 0 30041 0 39862 52500 414203 0 0 Erika Jamesuntil 630 Former Sr Assoc Dean - Exec Ed 0 189377 0 0 0 0 0 13765 0 15229 0 218371 0 0 Eugene Meoni GM OF HOSPITALITY 163392 0 46703 0 0 0 17813 0 24412 0 252320 0 0 0 Michael J Woodfolk SR EXEC DIR OF ENG STRATEGIES 210275 0 26828 0 0 0 22004 0 8961 0 268068 0 0 0 W Carter Hoerr Senior Development Officer 180023 0 38000 0 0 0 19188 0 21149 0 258360 0 0 0 Locke W Ogens SR EX DIR OF DSF AND STRAT REL 219924 0 33750 0 0 0 23663 0 24849 0 302186 0 0 0 Gerald D Starsia Senior Associate Dean & COO 0 296427 0 0 0 0 0 28771 0 60716 0 385914 0 0 Luciano Centini Managing Director of EE 210313 0 9585 0 0 0 22318 0 17402 0 259618 0 0 0 Dean W Kreymeyer Exec Dir IBIS and BRICE 181081 0 0 0 0 0 19253 0 19196 0 219530 0 0 0 Jeffrey Pottinger Senior Director of EE 170004 0 28560 0 0 0 17647 0 1503 0 217714 0 0 0 Colin Winter Senior Director of EE 126439 0 82000 0 0 0 14300 0 26903 0 249642 0 0 0 John Simon Ex-Officio Trustee 0 403276 0 0 0 0 0 81795 0 78935 0 564006 0 0 PART I, LINE 1A: Through the Foundation's standard benefits package, the Foundation will subsidize annually $185 of the cost of membership to the UVA gym for any benefits-eligible employee. PART I, LINE 4B: Line 4b: The University of Virginia made contributions to 401a/415 Deferred Compensation Plans for the following persons: Robert F. Bruner $ 1,966. John D. Simon 45,105. Teresa A. Sullivan 205,487. Part I, Line 6a: The foundation pays teaching fees for some employees who teach in Executive Education programs and bonuses that are not tied to revenues or net earnings. Employees have the option of electing to contribute a portion of their salary to the foundation's retirement plan. PART I, LINE 8: Gerald Starsia was appointed as COO and Senior Associate Dean in September 2013. X 68 2935757 FMV X course material 1 8084 cost X other 11 32023 cost false true false Schedule M, Part II The number of contributions or items in column (b) of Part I represents the number of contributions. Form 990, Part I, line 1 and Part III, line 1: The University of Virginia Darden School Foundation's primary purpose is to promote the advancement and further the aims and purposes of the University of Virginia Darden School of Business. The Foundation manages endowment funds for the exclusive benefit of the Darden School, operates the School's top-ranked Executive Education programs, the Inn at Darden and Abbott Center Hospitality, and promotes philanthropic support by alumni, friends, and corporations. Form 990, Part VI, Section A, line 1: The authority or delegation of the board of trustees is as follows: The Executive Committee exercises the authority of the Board of Trustees in directing the management of the business and affairs of the Foundation, except that no committee has the power or authority to i) fill vacancies on the Board or on any of its committees; ii) amend the Articles of Incorporation; iii) adopt, amend, or repeal the By-Laws; 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 Foundation; or vi) approve the revocation of the voluntary dissolution proceedings. The Executive Committee must provide a full report of its actions to the Board of Trustees at the regular semi-annual board meetings. Form 990, Part VI, Section A, line 2: Frank M. Sands, Sr. and Frank M. Sands, Jr. have Business & Family Relationships. Form 990, Part VI, Section B, line 11: After internal review, the Treasurer provided the Form 990 to the Audit/Finance Committee Chair and the Treasurer addressed questions from the Audit/Finance Committee Chair. Electronic copies of the Form 990 are provided to the Full Board in advance of filing. Form 990, Part VI, Section B, Line 12c: Annually, the Foundation distributes a copy of the Conflict of Interest Policy, Policy on University of Virginia Related Foundations, and a Conflict of Interest Form to the Foundation's trustees, officers, and key employees. The individuals are required to disclose activity for the next year and verify the activity in the current year. Form 990, Part VI, Section B, Line 15: DSF offers an incentive compensation program to some of its officers. Each plan is recommended by the officer's superior and requires that the officer meet both qualitative and quantitative metrics within the officer's specific area(s) of responsibility. Each plan is reviewed for appropriateness based upon external market data. Finally, the incentive plan recommendations along with market data are proposed to DSF's trustee compensation committee prior to the beginning of the plan year and approved by the committee in accordance with the IRS rebuttable presumption of reasonableness standards. After the conclusion of the plan year, the compensation committee reviews and approves any payouts under the incentive plans in advance of payments being made. Form 990, Part VI, Section C, Line 19: The organization's governing documents, conflict of interest policy, and financial statements are made available to the public upon request. Form 990, Part XII, Line 2c: Oversight of audit: There have been no changes during the year in the process for oversight of the audit of the financial statements. FORM 990 PART IX LINE 11G DESCRIPTION:TEACHING FEES, EXEC EDUCATION TOTAL FEES:4605114 FORM 990 PART IX LINE 11G DESCRIPTION:TEMPORARY STAFFING TOTAL FEES:539263 FORM 990 PART IX LINE 11G DESCRIPTION:OTHER PROFESSIONAL FEES TOTAL FEES:1112552 FORM 990 PART IX LINE 11G DESCRIPTION:COMMISSIONS TOTAL FEES:41029 FORM 990 PART IX LINE 11G DESCRIPTION:OTHER TOTAL FEES:11361 University of Virginia Darden School PO Box 6550 Charlottesville VA 22906 546001796 Education VA 501(C)(3) 2 na false false true false true true false false false false false true true true true true true false false false FORM 990, SCH R, PART V, LINE 1E LOAN REIMBURSEMENT BY OTHER ORGANIZATIONS: UVA HAS AGREED TO REIMBURSE ANY COSTS INCURRED BY THE UNIVERSITY OF VIRGINIA DARDEN SCHOOL FOUNDATION FOR LOAN PROGRAMS THE FOUNDATION HAD ENTERED INTO WITH THREE INDEPENDENT THIRD PARTIES, WHICH GUARANTEES LOANS FOR INTERNATIONAL STUDENTS. THE INTERNATIONAL STUDENT LOAN PROGRAM SUPPORTS THE DARDEN SCHOOL'S OBJECTIVES OF ATTRACTING INTERNATIONAL STUDENTS.