2014-03-20T15:44:54-05:00 2013-06-30 232932984 PARENTEBEARD LLC SUITE 200 221 W PHILADELPHIA STREET YORK PA 174012993 990 2012-07-01 233054174 WEST CHESTER UNIVERSITY FOUNDATION WEST 6104362868 PO BOX 541 WEST CHESTER PA 19381 TERESA JOHN 6104362868 2014-03-20 1 JULIUS GREEN CPA P00350393 7178467000 2012 2015-11-30 17:44:51Z RICHARD T PRZYWARA PO BOX 541 WEST CHESTER PA 19381 6774601 0 X WWW.WCUFOUNDATION.ORG X 2000 PA PROMOTE THE CHARITABLE, SCIENTIFIC, AND EDUCATIONAL INTERESTS OF WEST CHESTER UNIVERSITY. 26 26 100 110 0 0 3479522 4224013 1721890 2024997 163037 212604 2069471 33969 7433920 6495583 1807554 1920699 0 0 1945211 2150815 0 0 1635262 1451811 1849881 5204576 5921395 2229344 574188 16853184 19851090 2849069 2929848 14004115 16921242 X THE FOUNDATION WAS FORMED TO PROMOTE THE CHARITABLE, SCIENTIFIC, AND EDUCATIONAL INTERESTS OF WEST CHESTER UNIVERSITY. THE FOUNDATION ACHIEVES THIS BY SOLICITING FUNDS AND OTHER PROPERTY IN ACCORDANCE WITH POLICIES ESTABLISHED BY THE UNIVERSITY. 0 0 3374009 1920699 2024997 THE FOUNDATION PROVIDED THE FOLLOWING SUPPORT TO WEST CHESTER UNIVERSITY OF PENNSYLVANIA DURING FISCAL YEAR JUNE 30, 2013:1) THE WEST CHESTER UNIVERSITY FOUNDATION PROVIDED $1,354,084 OF SUPPORT FOR VARIOUS ACADEMIC AND CULTURAL PROGRAMS, JOINT UNDERGRADUATE STUDENT AND FACULTY RESEARCH, STUDENT AND FACULTY CONFERENCE ATTENDANCE, STUDENT PARTICIPATION IN NATIONAL TOURNAMENTS, PROFESSIONAL DEVELOPMENT, ENDOWMENT GROWTH, AND OTHER STUDENT SERVICES AT WEST CHESTER UNIVERSITY.2) THE WEST CHESTER UNIVERSITY FOUNDATION PROVIDED $420,582 OF SCHOLARSHIPS TO STUDENTS, SOME OF WHOM COULD NOT EXPERIENCE THE OPPORTUNITIES AND BENEFITS OF THE QUALITY OF EDUCATION FOR WHICH WEST CHESTER UNIVERSITY IS WELL-KNOWN. 3374009 1 1 0 1 0 1 0 0 0 1 1 0 0 1 1 1 0 1 0 0 1 1 1 0 1 1 0 1 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 80 0 1 100 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 X 26 26 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X TERESA JOHN CFO 6104362534 202 CARTER DRIVE WEST CHESTER PA 19382 JAMES SHINEHOUSE 0.10 0.10 X X 0 0 0 JOHN N NICKOLAS 0.10 0.10 X X 0 0 0 SANDRA F MATHER 0.10 0.10 X X 0 0 0 MAY VAN 0.10 0.10 X X 0 0 0 KEITH BEALE 0.10 0.10 X 0 0 0 MILLIE C CASSIDY 0.10 0.10 X 0 0 0 KATE CIPRIANO 0.10 0.10 X 0 0 0 CHRISTOPHER DIGIUSEPPE 0.10 0.10 X 0 0 0 JANE B FONTAINE 0.10 0.10 X 0 0 0 CHRISTOPHER FRANKLIN 0.10 0.10 X 0 0 0 CHERYL FULGINITI 0.10 0.10 X 0 0 0 DAVID GANSKY 0.10 0.10 X 0 0 0 CARL GERSBACH 0.10 0.10 X 0 0 0 DR JOHN A GONTARZ 0.10 0.10 X 0 0 0 DR MAURY HOBERMAN 0.10 0.10 X 0 0 0 DR DAVID P HOLVECK 0.10 0.10 X 0 0 0 DR DONALD E LEISEY 0.10 0.10 X 0 0 0 EMILY JANE LEMOLE 0.10 0.10 X 0 0 0 DONALD R MCILVAIN 0.10 0.10 X 0 0 0 THOMAS MILLS IV 0.10 0.10 X 0 0 0 DR H VISCOUNT NELSON 0.10 0.10 X 0 0 0 JOHN PANICHELLO 0.10 0.10 X 0 0 0 PAULA SHAFFNER 0.10 0.10 X 0 0 0 JOHN STODDART 0.10 0.10 X 0 0 0 SAMUEL THOMPSON JR 0.10 0.10 X 0 0 0 BRIGADIER GENERAL GEORGE WALLS JR 0.10 0.10 X 0 0 0 DR JUDITH FINKEL RESIGNED 0.10 0.10 X 0 0 0 TERESA JOHN 20.00 20.00 X 97497 0 31626 RICHARD T PRZYWARA 4.00 36.00 X 154257 0 28221 MEREDITH SOSSMAN 40.00 X 109717 0 23986 361471 0 83833 2 0 1 0 ARAMARK 1101 MARKET ST PHILADELPHIA PA 19107 FOOD SERVICES 123204 1 120729 245814 3857470 254129 4224013 CONTRACT REVENUE 611710 1594863 1594863 ADVANCEMENT ASSOCIATE 611710 285510 285510 EVENTS & CONFERENCES 611710 136683 136683 OTHER GRANT REVENUE 611710 7941 7941 2024997 172807 172807 34545 11900 22645 22645 22645 167382 127585 39797 39797 39797 112559 120729 130915 -18356 -18356 26038 8618 17420 17420 RECOVERY OF BAD DEBTS 900099 11997 11997 OTHER REVENUE 900099 263 263 12260 6495583 2024997 0 246573 1470942 1470942 437257 437257 12500 12500 82626 73392 9234 1515358 441696 118430 955232 136637 56395 11002 69240 251888 125071 14859 111958 164306 59179 15670 89457 29053 29053 26574 26574 8082 8082 31430 31430 416942 226669 42787 147486 39723 30616 1775 7332 204229 72966 64475 66788 74989 3015 40216 31758 76121 11633 59802 4686 166525 120697 2680 43148 96117 96117 255114 255114 26342 2938 23404 MEALS AND ENTERTAINMENT 316697 239392 14801 62504 PRIZES AND AWARDS 20512 15794 690 4028 FLOWERS AND GIFTS 19899 8565 3573 7761 DUES & SUBSCRIPTIONS 17528 1796 1367 14365 24004 5458 8261 10285 5921395 3374009 912124 1635262 328 70193 3343742 4116181 1704981 1477048 23848 35114 3242 1820 3537 8217 5810884 476923 5580706 5333961 4999952 7151959 1192848 1656597 16853184 19851090 449069 527636 2400000 2400000 0 2212 2849069 2929848 X 4622162 5859661 4441318 4310877 4940635 6750704 14004115 16921242 16853184 19851090 X 574188 350332 1992607 X 0 1 X 1 0 X 3142593 3385344 2828737 3479522 4224013 17060209 3142593 3385344 2828737 3479522 4224013 17060209 17060209 52281 12683 186096 228970 192402 672432 22648 2000000 27210 2049858 19782499 7307520 0.86240 0.87430 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: 2010 AMOUNT: $ 22,648. LEASE TERMINATION FEE - 2011 AMOUNT: $ 2,000,000. PARKING LOT LEASE - 2012 AMOUNT: $ 14,950. OTHER REVENUE - 2012 AMOUNT: $ 263. RECOVERY OF BAD DEBTS - 2012 AMOUNT: $ 11,997. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 8082 8082 0 EXPLANATION OF LOBBYING ACTIVITIES: PART II-B, LINE 1: WEST CHESTER UNIVERSITY FOUNDATION REIMBURSED THE PENNSYLVANIA FOUNDATIONS ASSOCIATION FOR SERVICES RENDERED FOR REPRESENTATION ON IMPORTANT LEGISLATIVE ISSUES INCLUDING "THE RIGHT TO KNOW LAW" AND THE MODERNIZATION ACT. PENNSYLVANIA FOUNDATIONS ASSOCIATION ENGAGED THE SERVICES OF GMEREK GOVERNMENT RELATIONS, INC TO PROVIDE THESE SERVICES. 4 57383 24750 746054 1 1 4999952 1810069 490800 149531 7151290 4673558 534130 -79498 127004 1234 4999952 3641009 620010 533730 121191 4673558 2348891 1073438 308614 89934 3641009 2532163 256061 -362043 77290 2348891 0.00000 0.94400 0.05600 0 0 545650 545650 4822361 290438 4531923 20628 1725 18903 422245 184760 237485 5333961 SPLIT-INTEREST AGREEMENTS 1015093 DUE FROM WEST CHESTER UNIVERSITY 126504 OTHER ASSETS 150238 DUE FROM AFFILIATE 353650 CASH SURRENDER VALUE-LIFE INSURANCE CONTRACTS 11112 1656597 DEPOSITS 2212 2212 X 9166854 350332 197514 1992607 2540453 6626401 -130818 -130818 6495583 6249727 197514 130818 328332 5921395 0 5921395 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE LARGE MAJORITY OF THE ENDOWMENT FUNDS ARE TO PROVIDE SCHOLARSHIPS TO WEST CHESTER UNIVERSITY STUDENTS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: MANAGEMENT HAS EVALUATED SUBSTANTIVE TAX POSITIONS TAKEN BY THE FOUNDATION AS OF JUNE 30, 2013 AND 2012. A TAX POSITION IS RECOGNIZED AS A BENEFIT ONLY IF IT IS "MORE-LIKELY-THAN-NOT" THAT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT HAS A LIKELIHOOD OF BEING REALIZED ON EXAMINATION OF MORE THAN 50 PERCENT. FOR TAX POSITIONS NOT MEETING THE "MORE-LIKELY-THAN-NOT" TEST, NO TAX BENEFIT IS RECORDED. UNDER THE "MORE-LIKELY-THAN-NOT" THRESHOLD GUIDELINES, THE MANAGEMENT BELIEVES NO SIGNIFICANT UNCERTAIN TAX POSITIONS EXIST, EITHER INDIVIDUALLY OR IN THE AGGREGATE, THAT WOULD GIVE RISE TO THE NON-RECOGNITION OF AN EXISTING TAX BENEFIT. AS OF JUNE 30, 2013 AND 2012, THE FOUNDATION HAD NO MATERIAL UNRECOGNIZED TAX BENEFITS OR LIABILITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 2,607. TRANSFER FROM UNIVERSITY STUDENT HOUSING, LLC 1,990,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE -130,915. RENTAL EXPENSE -11,900. RECOVERY OF BAD DEBTS 11,997. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE 130,915. RENTAL EXPENSE 11,900. RECOVERY OF BAD DEBTS -11,997. SCHEDULE D, PARTS XI, XII AND XIII: THE ORGANIZATION DID NOT PARTICIPATE IN SEPARATE, STAND-ALONE AUDITED FINANCIAL STATEMENTS. CONSOLIDATING SCHEDULES ARE LOCATED IN THE BACK OF THE CONSOLIDATED AUDITED FINANCIAL STATEMENTS. SCHEDULE D PARTS XI, XII, AND XIII, ALTHOUGH NOT REQUIRED, HAVE BEEN PREPARED TO RECONCILE THESE CONSOLIDATING SCHEDULES TO THE FINANCIAL INFORMATION ON THIS FORM 990. 1 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTS TO RECIPIENTS PROGRAM SERVICE - EDUCATION 12500 0 0 0 0 0 0 12500 0 12500 EUROPE (INCLUDING ICELAND & GREENLAND) TO SUPPORT MUSICAL EDUCATION 7500 WIRE TRANSFER 1 0 HONORARIUM FOR CELLO PERFORMANCE EUROPE (INCLUDING ICELAND & GREENLAND) 1 5000 WIRE TRANSFER 0 0 0 0 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: FUNDS ARE PROVIDED FOR MUSICAL PERFORMANCES. NO ADDITIONAL MONITORING IS DONE. PRESIDENTIAL GALA 153378 90398 62980 29700 13024 3000 34537 FOOTBALL QB CLASSIC GOLF OUTING 23598 7440 16158 5445 7159 1825 4 56312 22891 33421 17867 12200 4292 233288 120729 112559 53012 32383 3000 40654 129049 -16490 26038 6835 1783 1 1.00000 26038 6835 1783 8618 17420 PA 1 0 1 0 1.00000 TERESA JOHN CO WEST CHESTER UNIVER PO BOX 541 WEST CHESTER PA 19381 0 VARIES BASED ON THE UNIVERSITY DEPT SEE PART IV - SUPPLEMENTAL INFORMATION X 0 SCHEDULE G, PART III, LINE 16, DESCRIPTION OF SERVICES PROVIDED: PERSONS IN CHARGE OF GAMING OPERATIONS ARE EMPLOYEES OF WEST CHESTER UNIVERSITY AND WCU FOUNDATION. DUTIES INCLUDE DESIGNING AND ORDERING RAFFLE TICKETS; RECORDING DISTRIBUTION OF RAFFLE TICKETS; SUBSEQUENT COLLECTION OF REMAINING TICKETS AND CASH; COUNTING AND RECONCILING CASH; AND AWARDING PRIZES. TIME SPENT IN GAMING ACTIVITIES AS A PERCENTAGE OF TOTAL TIME IS VERY MINIMAL. 1 WEST CHESTER UNIVERSITY OF PENNSYLVANIA 700 SOUTH HIGH STREET WEST CHESTER PA 19383 232417773 170(C)(1) 1349582 4502 FMV AND APPRAISALS DONATIONS TO BE USED IN THE OPERATIONS OF THE UNIVERSITY TO PROMOTE THE VARIOUS EXEMPT PURPOSES OF WEST CHESTER UNIVERSITY SOUTHEASTERN PENNSYLVANIA AUTISM RESOURCE CENTER 1160 MCDERMOTT DRIVE 214 WEST CHESTER PA 19383 134364308 501(C)(3) 8970 TO PROMOTE THE VARIOUS EXEMPT PURPOSES OF SOUTHEASTERN PENNSYLVANIA AUTISM RESOURCE CENTER. WEST CHESTER UNIVERSITY STUDENT SERVICES INC WEST CHESTER UNIVERSITY SYKES UNION BLDG WEST CHESTER PA 19383 232490021 501(C)(3) 55708 TO PROMOTE THE VARIOUS EXEMPT PURPOSES OF STUDENT SERVICES, INC. WEST CHESTER UNIVERSITY ALUMNI ASSOCIATION 86 SOUTH CHURCH STREET WEST CHESTER PA 19383 231287817 501(C)(3) 14442 TO PROMOTE THE VARIOUS EXEMPT PURPOSES OF WEST CHESTER UNIVERSITY ALUMNI ASSOCIATION. 4 0 SCHOLARSHIP FOR STUDENTS OF WEST CHESTER UNIVERSITY. 500 420582 HONORARIUMS TO SPEAKERS AND VISITING ARTISTS AT WEST CHESTER UNIVERSITY. 15 16675 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: GRANTS AND OTHER ASSISTANCE INCLUDE AWARDS, PRIZES, STIPENDS, SCHOLARSHIPS, AND SIMILAR PAYMENTS AND DISTRIBUTIONS THAT THE FOUNDATION MAKES TO WEST CHESTER UNIVERSITY, ITS AFFILIATES, AND ITS STUDENTS. WRITTEN GUIDELINES FOR EACH RESTRICTED FUND DEFINE THE DONOR-RESTRICTED PURPOSE AND PARAMETERS OF THE FUND. DISBURSEMENTS FROM THESE FUNDS REQUIRE THE RECIPIENT TO SUBMIT VERIFIABLE AND INDEPENDENT DOCUMENTATION THAT MEETS THE GUIDELINE CRITERIA. THE SUBMISSION IS VERIFIED BY FOUNDATION STAFF FOR COMPLIANCE TO THE GUIDELINES PRIOR TO DISBURSEMENT TO THE RECIPIENT. SCH I, PART II GRANTS TO OTHER ORGANIZATIONS WEST CHESTER UNIVERSITY FOUNDATION DISTRIBUTES DONOR-RESTRICTED FUNDS TO WEST CHESTER UNIVERSITY TO USE FOR CAPITAL PROJECTS. THE FOUNDATION ALSO DISTRIBUTES DONOR RESTRICTED FUNDS TO DESIGNATED AFFLILIATED ENTITIES OF WEST CHESTER UNIVERSITY. ALL ENTITIES THAT RECEIVE FUNDS FROM WEST CHESTER UNIVERSITY FOUNDATION HAVE INTERNAL CONTROLS TO ENSURE MONIES ARE PROPERLY ALLOCATED AND USED. ON OCCASION WEST CHESTER UNIVERSITY FOUNDATION PROVIDES SMALL GRANTS TO OTHER NON-PROFIT ORGANIZATIONS. THE FOUNDATION MAKES EVERY EFFORT TO OBTAIN INDEPENDENT VERIFICATION THAT THE FUNDS WERE USED IN COMPLIANCE WITH THE FOUNDATION'S EXPECTATIONS. X X X X 0 0 0 0 0 0 0 0 0 RICHARD T PRZYWARA 147257 0 7000 0 0 0 14331 0 13890 0 182478 0 0 0 PART I, LINE 7 SUPPLEMENTAL INFORMATION PART III THE EXECUTIVE DIRECTOR'S BONUS WAS AN INCENTIVE PAYMENT TO ENCOURAGE LONGETIVITY OF SERVICE. THE BONUS IS CONTRACTUAL AND NO PORTION OF IT IS DISCRETIONARY. X 7 5795 APPRAISAL X 5 222581 NYSE X 21 9200 PURCHASE PRICE X GIFT CARDS AND TICKETS 25 3342 PURCHASE PRICE X AUCTION ITEMS 74 13211 COMPARABLE ITEMS 0 0 1 0 METHOD FOR DETERMINING NUMBER OF CONTRIBUTIONS: PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS, COLUMN B, IS REPRESENTATIVE OF ACTUAL CONTRIBUTORS FOR LINE 9 AND THE NUMBER OF ITEMS CONTRIBUTED FOR ALL OTHER LINES. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE IS COMPOSED OF THE OFFICERS OF THE WCU FOUNDATION, THE PRESIDENT OF WEST CHESTER UNIVERSITY (WCU), THE VICE PRESIDENT FOR ADVANCEMENT & SPONSORED RESEARCH, THE VICE PRESIDENT FOR ADMINISTRATION AND FINANCE, AND THE EXECUTIVE DIRECTOR OF WCU FOUNDATION. THE EXECUTIVE COMMITTEE IS AUTHORIZED TO ACT FOR THE BOARD BETWEEN ITS REGULAR MEETINGS. THE EXECUTIVE COMMITTEE HAS AND MAY EXERCISE ALL OF THE POWERS AND AUTHORITY OF THE BOARD IN THE MANAGEMENT OF THE FOUNDATION. FORM 990, PART VI, SECTION A, LINE 2 AS PART OF THE ANNUAL CONFLICT OF INTEREST DISCLOSURE, TRUSTEES AND OFFICERS ARE REQUIRED TO DISCLOSE ANY FAMILY OR BUSINESS RELATIONSHIPS. THE FOLLOWING RELATIONSHIPS WERE DISCLOSED: FAMILY RELATIONSHIP BETWEEN DR. H. VISCOUNT NELSON, BRIGADIER GENERAL GEORGE H. WALLS, JR., AND MR. SAMUEL C. THOMPSON, JR. FORM 990, PART VI, SECTION B, LINE 11 THE CHIEF FINANCIAL OFFICER REVIEWS THE 990 DRAFT IN DETAIL AND RECONCILES TO THE AUDITED FINANCIAL STATEMENTS AND APPROPRIATE LEGAL AND OTHER DOCUMENTS. CHANGES ARE SENT TO THE TAX PREPARER. ONCE ALL CHANGES HAVE BEEN MADE AND APPROVED BY THE CHIEF FINANCIAL OFFICER, THE DRAFT 990 IS PROVIDED TO EACH TRUSTEE FOR THEIR REVIEW AND COMMENTS IN ADVANCE OF FILING. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES SHALL MAKE PROMPT AND FULL DISCLOSURE TO THE BOARD OF A PROSPECTIVE SITUATION THAT MAY INVOLVE A CONFLICT OF INTEREST AS SOON AS THAT CONFLICT IS KNOWN. THIS DISCLOSURE SHOULD BE MADE A MATTER OF THE RECORD, EITHER THROUGH THE ANNUAL DISCLOSURE PROCEDURE OR WHEN THE INTEREST BECOMES A MATTER OF BOARD ACTION. IF A CONFLICT OF INTEREST SHOULD ARISE, THE EXECUTIVE DIRECTOR AND THE BOARD MEMBER SHOULD PROMPTLY RESOLVE THE MATTER AND THE RESOLUTION SHOULD BE RECORDED IN THE MINUTES OF THE BOARD. TRUSTEES WITH CONFLICTS SHALL REMOVE THEMSELVES FROM NEGOTIATIONS, DECISIONS, DELIBERATIONS, OR VOTES INVOLVING THE CONFLICT. THIS SHALL NOT BE CONSTRUED AS PREVENTING THE TRUSTEE FROM STATING HIS POSITION IN THE MATTER OR FROM ANSWERING PERTINENT QUESTIONS FROM THE BOARD WHEN HIS/HER KNOWLEDGE MAY BE OF ASSISTANCE. ANNUALLY, CONFLICT OF INTEREST DISCLOSURES ARE COMPLETED BY EACH TRUSTEE AND OFFICER DISCLOSING ANY CIRCUMSTANCES THAT MIGHT DISSUADE THEM FROM ACTING IN THE BEST INTEREST OF THE ORGANIZATION. ANNUAL DISCLOSURE STATEMENTS ARE FORWARDED TO THE EXECUTIVE DIRECTOR WHO DETERMINES WHETHER A CONFLICT OF INTEREST MAY EXIST. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE DIRECTOR'S COMPENSATION IS APPROVED IN ADVANCE BY THE BOARD OF TRUSTEES' NOMINATING AND HUMAN RESOURCE COMMITTEE. PRIOR TO MAKING THE DETERMINATION THE COMMITTEE OBTAINS COMPENSATION DATA OF AT LEAST THREE COMPARABLE ORGANIZATIONS IN SIMILAR COMMUNITIES FOR SIMILAR SERVICE. IN ADDITION, BOARD MEMBERS ARE INVITED TO OFFER FEEDBACK TO THE COMMITTEE ON THE PERFORMANCE-BASED GOALS ESTABLISHED FOR THE POSITION. THE COMMITTEE DOCUMENTS THE BASIS FOR ITS DECISION CONCURRENTLY WITH MAKING THE DETERMINATION. COMPENSATION IS DEFINED IN THE EXECUTIVE DIRECTOR'S THREE-YEAR EMPLOYMENT CONTRACT. IN DECEMBER 2012, A THREE-YEAR CONTRACT WAS EXECUTED FOR THE PERIOD JULY 1, 2013 THROUGH JUNE 30, 2016. THE CHIEF FINANCIAL OFFICER'S COMPENSATION IS APPROVED IN ADVANCE BY THE BOARD OF TRUSTEES' NOMINATING AND HUMAN RESOURCE COMMITTEE. PRIOR TO MAKING THE DETERMINATION THE COMMITTEE OBTAINS COMPARABLE DATA OF AT LEAST THREE COMPARABLE ORGANIZATIONS IN SIMILAR COMMUNITIES FOR SIMILAR SERVICE. IN ADDITION, BOARD MEMBERS ARE INVITED TO OFFER FEEDBACK TO THE COMMITTEE ON THE PERFORMANCE OF THE CHIEF FINANCIAL OFFICER. THE COMMITTEE DOCUMENTS THE BASIS FOR ITS DECISION CONCURRENTLY WITH MAKING THE DETERMINATION. COMPENSATION IS DETERMINED ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 2,607. TRANSFER FROM UNIVERSITY STUDENT HOUSING, LLC 1,990,000. UNIVERSITY STUDENT HOUSING LLC PO BOX 541 WEST CHESTER PA 19381 820571540 STUDENT HOUSING PA 501(C)(3) LINE 11A, I WEST CHESTER UNIVERSITY FOUNDATION 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 UNIVERSITY STUDENT HOUSING LLC S 1990000 COST UNIVERSITY STUDENT HOUSING LLC O 277058 COST UNIVERSITY STUDENT HOUSING LLC Q 1137470 COST