2014-02-12T09:44:03-06:00 2013-06-30 010523282 Berry Dunn McNeil & Parker LLC PO Box 1100 Portland ME 041041100 990 2012-07-01 016011501 University of Maine Foundation UNIV 2075815100 Two Alumni Place Orono ME 044695792 JEFFERY MILLS 2075815100 2014-02-11 1 Barbara J McGuan CPA P00219457 2077752387 2014-02-11 2012 2015-11-30 17:44:51Z Jeffery Mills Two Alumni Place Orono ME 044695792 119640888 0 X www.umainefoundation.org X 1934 ME Fundraising and endowment management for the benefit of the University of Maine 9 9 12 50 -63316 -63316 12359605 7816126 0 0 4472785 10446605 755734 281411 17588124 18544142 7025572 5481167 0 0 1400624 1221222 0 0 867146 1823609 1717646 10249805 8420035 7338319 10124107 179729532 193458626 6673488 6324752 173056044 187133874 X The Foundation, acting as a separate organization works with all entities to encourage philanthropic support by growing the endowment through planned/deferred giving for the University of Maine and other charitable organizations while carrying out donor's wishes in perpetuity. 0 0 5785764 5388031 Gifts and endowment income distributed for scholarships and general support for the benefit of the University of Maine 359902 Distributions to trust, gift annuity and pooled income fund participants 113136 93136 Distributions of gifts and endowment income to other qualified charities 6258802 1 1 0 1 0 1 0 1 1 1 1 1 0 1 1 0 1 0 0 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 X 108 0 1 12 1 0 1 CJ EI IO OC 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 NH X X Jeffery Mills 2075815100 Two Alumni Place Orono ME 04469 David Austin 1.00 X X 0 0 0 Darryl Brown 1.00 X X 0 0 0 Stephen Coutts 1.00 X 0 0 0 Patricia Dunn 1.00 X X 0 0 0 Carroll Lee 1.00 X 0 0 0 Donna Mundy 1.00 X 0 0 0 Gregg Piasio 1.00 X 0 0 0 John Simpson 1.00 X X 0 0 0 Ellen Stinson 1.00 X 0 0 0 Amos Orcutt 40.00 X 236576 0 33503 Jeffery Mills 40.00 X 110242 0 32561 Kevin Frazier 40.00 X 106349 0 33127 Sarah McPartland-Good 40.00 X 119084 0 32860 572251 0 132051 4 0 1 0 Morgan Stanley Smith Barney 100 Middle Street 3rd Floor East To Portland ME 04101 Investment Consultant 199053 Cambridge Associates LLC 125 High Street Boston MA 021102112 Investment Consultant 191621 2 7816126 1024175 7816126 3804662 -63316 3867978 107710783 27906 101027679 69067 6683104 -41161 6641943 6641943 Other Revenue 900099 281411 281411 281411 18544142 0 -63316 10791332 5481167 5481167 552358 131079 163044 258235 445568 105737 131522 208309 39122 9284 11548 18290 117909 27981 34804 55124 66265 15725 19560 30980 11220 11220 16050 16050 640737 640737 6410 1521 1892 2997 70966 16841 20947 33178 68501 16256 20220 32025 205173 27331 123999 53843 39534 9382 11669 18483 13027 3091 3845 6091 1510 1510 48963 11619 14453 22891 18546 4401 5474 8671 Life Income Participant 359902 359902 Fundraising Expenses 86546 86546 Miscellaneous 67335 15975 19877 31483 Equity in Buchanan Alum 43226 43226 20000 20000 8420035 6258802 1294087 867146 167960 84440 7226747 77323715 481965 514359 467973 192345 978674 785640 5986837 140325 6248221 5846512 119026381 63994699 30125043 29592233 15006568 15124683 179729532 193458626 842271 557832 2910342 3005745 1030492 910161 1890383 1851014 6673488 6324752 X 4491746 6703912 37139693 46032838 131424605 134397124 173056044 187133874 179729532 193458626 X 10124107 3963397 -9674 X 0 1 X 1 0 X 7748262 5387222 6649135 12359605 7816126 39960350 7748262 5387222 6649135 12359605 7816126 39960350 39960350 2286866 2117437 2282501 3215623 3804662 13707089 138317 354990 417739 755734 281411 1948191 55615630 0.71850 0.60920 X Schedule A, Part II, Line 10, Explanation of Other Income: Other Income - 2008 Amount: $ 138,317. 2009 Amount: $ 354,990. 2010 Amount: $ 417,739. 2011 Amount: $ 755,734. 2012 Amount: $ 281,411. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 1 20000 0 0 0 20000 0 5 5174 21309 66271 1 1 906 408065 X See Part XIII 1 0 1 X 148298359 7580278 13645945 4914876 1775044 162834662 149059863 13992790 -5645354 6838664 2270276 148298359 123235557 6670997 25061552 4013984 1894259 149059863 117506698 5173234 4840322 2573576 17259 1693862 123235557 150857325 9292305 -33268526 5740987 1592380 2041039 117506698 0.03900 0.80300 0.15800 0 0 5756357 5756357 230480 140325 90155 5846512 29592233 F 29592233 Private Stock 21079 Maine Unemployment Depository 6709 Irrevocable Trusts 11032292 Cash Surrender Value Life Insurance 177707 Buchanan Alumni House Holdings 3143188 Artwork & Collections 408065 Other Assets 335643 15124683 Distributions Due to Life Income Beneficiaries 1851014 1851014 21857128 3963397 3963397 17893731 640737 9674 650411 18544142 7779298 0 7779298 640737 640737 8420035 Part III, Line 4: The Foundation's collections are held for sale and the proceeds are used to further benefit the University of Maine. The Foundation's collections consist of various paintings, china and silver, jewelry and a Hummell collection. Part IV, Line 2b: Custodial accounts consist of funds of other qualified charities held at the Foundation for investment administrative purposes. Description of Intended Use of Endowment Funds: Part V, Line 4: The Foundation aims to protect the purchasing power of the endowment by providing a rate of growth to keep pace with inflation and pay out an adequate amount of income to support the purpose of the endowment (scholarships, research, professorships, and other needs). Part XI, Line 4b - Other Adjustments: Decrease in Cash Surrender Value of Life Insurance 9,674. Europe (Including Iceland & Greenland) Investments 7918404 Central America and the Caribbean Investments 26770318 0 0 0 0 0 0 34688722 0 34688722 0 0 0 0 0 0 1 University of Maine University of Maine System Orono ME 04469 016000769 501(c)(3) 5255656 General Maine 4-H Foundation 5741 Libby Hall Orono ME 04469 016011487 501(c)(3) 55102 General Town of Searsmont PO Box 56 Searsmont ME 04973 010390148 Government 6991 General UM Pulp & Paper Foundation 217 Jenness Hall Orono ME 04469 010237721 501(c)(3) 6050 General United Methodist Church PO Box 33 Searsmont ME 04973 016013581 501(c)(3) 13982 General Waldo County YMCA 157 Linconville Avenue Belfast ME 04915 010493123 501(c)(3) 6250 General Maine Economic Growth Coalition PO Box 550 Orono ME 04473 010684216 527 20000 General 6 1 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: The Foundation monitors the use of University grant funds by conducting an internal audit on a group of randomly selected funds each year. During the fiscal year audit the auditors conduct an independent review of a random group of funds. X 1 1 X X X 0 0 0 0 0 0 0 0 0 Amos Orcutt 105725 0 17000 0 113851 0 23897 0 9606 0 270079 0 0 0 Sarah McPartland-Good 106169 0 9511 0 3404 0 12247 0 20613 0 151944 0 0 0 X 18 681 Expert Opinion X 65 693494 FMV X Yacht 1 330000 Expert Opinion 1 0 1 1 Third Party Use: Part I, Line 32b: The Foundation uses third parties who are professionals for the sale of non-cash contributions such as art and securities. Form 990, Part VI, Section A, line 6 The Foundation has members. Form 990, Part VI, Section A, line 7a The Foundation is governed by membership which elects directors. Form 990, Part VI, Section A, line 7b The Foundation is governed by membership which elects directors. Form 990, Part VI, Section B, line 11 A draft copy of the completed form 990 is provided to the board of directors no less than two weeks before filing. Form 990, Part VI, Section B, line 12c All new employees, members, board, and committee members complete and sign a conflict of interest disclosure statement. Any real or potential conflict is monitored and enforced in accordance with the conflict of interest policy. Form 990, Part VI, Section B, line 15 The Chair of the board reviews revenues and expenditures and makes reccomendations for executive compensation (President/CEO) to the board of directors after it has been reviewed by the budget committee. The budget committee of the University of Maine Foundation has established the following criteria for the process and evaluation: A. Approval by independent governing board in advance, composed entirely of individuals who do not have a conflict of interest. The President/CEO is not present at meetings. B. Reliance on comparable data through compensation surveys compiled by independent firms. C. Document basis for determination in committee and board meeting minutes. Minutes reflect the terms of the transaction, date of approval, members of the governing board who were present and voted, the data used from the compensation surveys and peer institutions and how the data was obtained. The determination is summarized in a letter from the board Chair to the President/CEO of The Foundation before any compensation is paid. Form 990, Part VI, Section C, line 19 Audited financial statement, Form 990, donor bill of rights, and The Foundation's confidentiality policy is found on our website, umainefoundation.org. A complete copy of the by-laws and conflict of interest policy are available upon request. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 9: Decrease in Cash Surrender Value of Life Insurance -9,674. Pooled Income Funds (2) Two Alumni Place Orono ME 04469 Split Interest Trust ME T 0 Charitable Lead Trusts (7) Two Alumni Place Orono ME 04469 Split Interest Trust ME T 0 Charitable Remainder Trusts (33) Two Alumni Place Orono ME 04469 Split Interest Trust ME T 0 Charitable Perpetual Trusts (5) Two Alumni Place Orono ME 04469 Split Interest Trust ME T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 Pooled Income Funds (2) S 63171 Market Value Charitable Lead Trusts (7) S 134141 Annuity/Trust Payments Charitable Remainder Trusts (33) S 468020 Remainder Interest