2014-05-15T09:00:07-05:00 2013-06-30 CROWE HORWATH LLP 9600 Brownsboro Road Suite 400 Louisville KY 402411122 990 2012-07-01 611131682 EASTERN KENTUCKY UNIVERSITY FOUNDATION INC EAST 8596225012 521 Lancaster Ave CPO 15A Richmond KY 40475 BARRY POYNTER 2014-05-15 true Rachel Spurlock P00520729 5023263996 2012 2015-11-30 17:44:51Z DUSTAN MCCOY 521 Lancaster Ave CPO 15A Richmond KY 40475 8111509 false X HTTP://DEVELOPMENT.EKU.EDU/ X 1968 KY PROVIDING FINANCIAL SUPPORT FOR EASTERN KENTUCKY UNIVERSITY IN ACCOMPLISHING ITS GOALS OF EDUCATION AND REGIONAL STEWARDSHIP; FUNDRAISING AND LONG TERM INVESTMENTS FOR THIS PURPOSE. 16 16 0 50 0 0 2556355 2768454 67627 49757 2342989 3078633 555576 285481 5522547 6182325 2190195 1152898 0 0 0 0 0 0 167497 1842335 1472605 4032530 2625503 1490017 3556822 56732953 62500933 22067421 19474618 34665532 43026315 THE EKU FOUNDATION PROVIDES SUPPORT FOR EASTERN KENTUCKY UNIVERSITY IN ACCOMPLISHING ITS GOALS OF EDUCATION AND REGIONAL STEWARDSHIP WITHIN ITS SOUTHEASTERN KENTUCKY SERVICE REGION. false false 550596 550596 216055 FUNDING TO SUPPORT ACADEMIC PROGRAMS, FACULTY PROFESSIONAL DEVELOPMENT, AND THE ESTABLISHMENT OF AND FUNDING FOR FACULTY CHAIRS. THE RESULT OF THIS SUPPORT IS THE ENHANCEMENT OF THE EDUCATIONAL QUALITY AT EASTERN KENTUCKY UNIVERSITY, WHICH DIRECTLY BENEFITS ITS STUDENTS. FACULTY PROFESSIONAL DEVELOPMENT FUNDING PROVIDES FACULTY WITH OPPORTUNITIES TO EXPAND THEIR KNOWLEDGE BASE THROUGH STUDY AND RESEARCH, THUS ADDING TO THE CLASSROOM AND EDUCATIONAL EXPERIENCE FOR STUDENTS. 339836 339836 0 FUNDING TO SUPPORT STUDENT FINANCIAL AID AND SCHOLARSHIPS, THUS ENABLING THOSE STUDENTS WHO ARE BOTH CAPABLE AND/OR HAVE FINANCIAL NEED TO RECEIVE A COLLEGE EDUCATION. THESE INCLUDE MERIT SCHOLARSHIPS AWARDED TO STUDENTS IN THE EASTERN KENTUCKY UNIVERSITY HONORS PROGRAM, AS WELL AS SCHOLARSHIPS FOR STUDENTS WHO HAVE DEMONSTRATED FINANCIAL NEED. ENDOWMENT INCOME FOR INVESTED FUNDS HELD BY THE EASTERN KENTUCKY UNIVERSITY FOUNDATION IS THE PRIMARY SOURCE OF FUNDING FOR THIS PURPOSE. 262466 262466 69426 FUNDING TO SUPPORT THE CORE MISSION OF THE UNIVERSITY BY ESTABLISHING FUNDS FOR ACADEMIC DEPARTMENTS TO PURCHASE EQUIPMENT, SUPPLIES, AND OTHER MATERIALS RELATED TO FURTHERING THE CLASSROOM EXPERIENCE. 11754 0 49757 FUNDING TO SUPPORT ALUMNI AND FUNDRAISING ACTIVITIES TO ENHANCE ANNUAL AND LONG-TERM CHARITABLE GIVING. THESE ACTIVITIES KEEP ALUMNI CONNECTED TO EASTERN KENTUCKY UNIVERSITY, THUS ASSISTING IN DEVELOPING LOYALTY AND PROVIDING OPPORTUNITIES FOR FINANCIAL ASSISTANCE IN SUPPORT OF THE UNIVERSITY'S MISSION. 11754 0 49757 1164652 true true false false false false false true true true true false false true true true false false false true false false false false false false true false true true false false false false false false false false false false true true false false false true false false false false true 22 0 true 0 false false false false false false false false false false X 16 16 false false false false false false false true true false false true true true true false false false false false KY X Barry Poynter Interim VP Fin EKU 8596225012 521 Lancaster Ave Coates Box 31A Richmond KY 40475 DUSTAN E MCCOY 3.00 X X 0 0 0 RONALD NOEL 1.00 X X 0 0 0 WILLIAM P CLEMENTS JR 1.00 X X 0 0 0 BARBARA A RICKE 1.00 X 0 0 0 BETTY MAUPIN POGUE 1.00 X 0 0 0 BILL DAUGHERTY 1.00 X 0 0 0 BOB MORGAN 1.00 X 0 0 0 CRAIG TURNER 1.00 X 0 0 0 DONALD R DIZNEY 1.00 X 0 0 0 GAIL SCHOMP 1.00 X 0 0 0 HARDY TRIBBLE 1.00 X 0 0 0 HAROLD T DANIEL 1.00 X 0 0 0 JANE BOYER 1.00 X 0 0 0 PAUL R COLLINS 1.00 X 0 0 0 PAUL W CHELLGREN 1.00 X 0 0 0 RITCHIE REDNOUR 1.00 X 0 0 0 TIMOTHY C BROWN 1.00 X 0 0 0 TOM COFFEY 1.00 X 0 0 0 TONYA TARVIN CRUM 1.00 X 0 0 0 BARRY POYNTER 3.00 47.00 X 0 137313 17504 JOSEPH FOSTER 20.00 30.00 X 0 69924 9263 MARK SANDY 20.00 30.00 X 0 87464 10559 0 294701 37326 0 false true false HIRTLE CALLAGHAN FIVE TOWER BRIDGE SUITE 500 WEST CONSHOHOCKEN PA 194282998 INVESTMENT SERVICES 241133 WYATT TARRANT & COMBS LLP 500 W JEFFERSON STREET SUITE 2800 LOUISVILLE KY 40202 LEGAL SERVICES 174388 2 2768454 73311 2768454 ALUMNI EVENTS 900099 49757 49757 0 0 0 0 0 0 0 0 49757 1332894 1332894 0 0 318804 52643 266161 0 266161 266161 3622280 1876541 1745739 0 1745739 1745739 0 0 0 MISCELLANEOUS REVENUES 900099 19320 19320 0 0 0 0 0 0 19320 6182325 335238 0 3078633 1152898 1152898 0 0 0 0 0 0 0 0 0 0 174388 174388 38500 38500 0 0 241133 241133 102914 0 102914 0 11754 11754 0 97692 97692 1029 1029 0 0 29040 29040 0 17068 17068 9059 9059 0 152543 152543 34842 34842 MEMBERSHIPS & OTHER DUES 138457 138457 UNCOLLECTIBLE RELATED PARTY RECEIVABLE 412502 412502 11684 0 11684 0 2625503 1164652 1293354 167497 0 1538429 1705168 2003036 3563842 726714 744161 52739 52279 0 0 833 647 6627874 662171 6152312 5965703 38369831 41942635 7479322 8249286 0 0 409737 277212 56732953 62500933 34892 208928 1320000 1155000 19286339 17278764 0 1426190 831926 22067421 19474618 X 3883214 4427646 6148733 12798029 24633585 25800640 34665532 43026315 56732953 62500933 3556822 4803961 0 X false true X true false X 3083953 2809064 3191563 2556355 2768454 14409389 0 0 3083953 2809064 3191563 2556355 2768454 14409389 2085992 12323397 929327 1192171 1148955 1492990 1651698 6415141 0 409854 327284 295853 275972 19320 1328283 22152813 333060 0.55620 0.53460 X SCHEDULE A, PART II, LINE 10, OTHER INCOME, DESCRIPTION - OTHER INCOME, COLUMN A - 409854, COLUMN B - 327284, COLUMN C - 295853, COLUMN D - 275972, COLUMN E - 19320, COLUMN F - 1328283; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true X 50133023 1325079 7709907 339836 740764 241133 57846276 49488725 1873688 -268663 366667 370513 223547 50133023 39573556 2310582 8341711 464218 170689 102217 49488725 41377499 0 5899265 526974 6988487 187747 39573556 52336603 1843863 -10770294 806167 1045187 181319 41377499 0.10650 0.89350 0.00000 true false 2450373 2450373 3435083 381311 3053772 523225 162322 360903 152050 81429 70621 67143 37109 30034 5965703 0 0 HEDGE FUNDS 4798216 F LIMITED PARTNERSHIPS 3451071 F 8249286 0 ANNUITY PAYMENTS AND DEFERRED GIVING LIABILITY 367764 FAIR VALUE ADJUSTMENT IN INTEREST RATE SWAP 76438 DUE TO RELATED PARTY - UNIVERSITY 387724 831926 X 10797796 4803961 0 0 52643 4856604 5941192 241133 0 241133 6182325 2437013 52643 52643 2384370 241133 0 241133 2625503 Explanation of escrow agreement Schedule D, Part IV, Line 2b ASSETS HELD FOR OTHERS REPRESENT FUNDS IN THE POSSESSION OF THE FOUNDATION ON BEHALF OF EASTERN KENTUCKY UNIVERSITY, WHICH ARE HELD FOR INVESTMENT IN THE REGIONAL UNIVERSITY ENDOWMENT TRUST FUND AND PROGRAMS OF DISTINCTION FUND. Intended uses of endowment funds Schedule D, Part V, Line 4 THE ENDOWMENT FUNDS HAVE BEEN ESTABLISHED FOR THE PURPOSE OF GENERATING INVESTMENT INCOME AND RETURN TO SUPPORT THE EDUCATIONAL AND REGIONAL STEWARDSHIP ACTIVITIES OF EASTERN KENTUCKY UNIVERSITY. THE DESIGNATED PURPOSES OF ALL FUNDS ARE MAINTAINED AND THE INCOME/RETURN FROM THEM IS USED ONLY FOR THE INTENDED DONOR PURPOSE. FIN 48 (ASC 740) footnote Schedule D, Part X, Line 2 THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE FOUNDATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501 OF THE INTERNAL REVENUE CODE. HOWEVER, THE FOUNDATION IS SUBJECT TO FEDERAL INCOME TAX ON ANY UNRELATED BUSINESS TAXABLE INCOME. GENERALLY ACCEPTED ACCOUNTING STANDARDS PRESCRIBE RECOGNITION THRESHOLDS AND MEASUREMENT ATTRIBUTES FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. TAX BENEFITS OR LIABILITIES WILL BE RECOGNIZED ONLY IF THE TAX POSITION IS MORE-LIKELY-THAN-NOT SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED WILL BE THE LARGEST AMOUNT OF TAX BENEFIT OR LIABILITY THAT IS GREATER THAN 50% LIKELY BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE MORE-LIKELY-THAN-NOT TEST, NO TAX BENEFIT OR LIABILITY WILL BE RECORDED. MANAGEMENT HAS CONCLUDED THAT THEY ARE UNAWARE OF ANY TAX BENEFITS OR LIABILITIES TO BE RECOGNIZED AT JUNE 30, 2013 AND 2012 AND DOES NOT EXPECT THIS TO CHANGE IN THE NEXT 12 MONTHS. THE FOUNDATION WOULD RECOGNIZE INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS IN INTEREST AND INCOME TAX EXPENSE, RESPECTIVELY. THE FOUNDATION HAS NO AMOUNTS ACCRUED FOR INTEREST OR PENALTIES AS OF JUNE 30, 2013 AND 2012. THE FOUNDATION IS NO LONGER SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR THE YEARS BEFORE JUNE 30, 2009. Other revenues in audited financial statements not in form 990 Schedule D, Part XI, Line 2d RENTAL PROPERTY EXPENSE - 52643; Other expenses in audited financial statements not in form 990 Schedule D, Part XII, Line 2d RENTAL PROPERTY EXPENSE - 52643; CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 8249000 0 0 8249000 true false true false true false Method used to account for expenditures on organization's financial statements Schedule F, Part I, Line 3 CENTRAL AMERICA AND THE CARIBBEAN: ACCRUAL Method used to account for expenditures on organization's financial statements Schedule F, Part I, Line 3 CENTRAL AMERICA AND THE CARIBBEAN: ACCRUAL true EASTERN KENTUCKY UNIVERSITY 521 LANCASTER AVE RICHMOND KY 40475 611011211 GOVERNMENT 1152898 0 NA NA ACADEMIC PROGRAM SUPPORT 1 0 Procedures for monitoring use of grant funds Schedule I, Part I, Line 2 THE FOUNDATION WAS ESTABLISHED TO RECEIVE GIFTS AND CONTRIBUTIONS FOR THE BENEFIT OF EASTERN KENTUCKY UNIVERSITY AND TO ENSURE THAT FUNDS AND PROPERTY RECEIVED ARE APPLIED TO THE USES SPECIFIED BY THE DONORS. AS SUCH, AMOUNTS REPORTED IN SCHEDULE I, PART I, REFLECT FINANCIAL SUPPORT THAT THE FOUNDATION PROVIDES TO THE UNIVERSITY FOR SCHOLARSHIPS, ACADEMIC PROGRAMS, RESEARCH, FACILITIES, FACULTY AND OTHER INITIATIVES OF THE UNIVERSITY. false false false false false false false BARRY POYNTER 0 137313 0 0 0 0 0 17504 0 0 0 154817 0 0 Arrangement used to establish the top management official's compensation Schedule J, Part I, Line 3 COMPENSATION FOR THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL IS PAID AND DETERMINED BY EASTERN KENTUCKY UNIVERSITY (EKU), A RELATED TAX-EXEMPT ORGANIZATION. JOSEPH FOSTER(LEFT THE UNIVERSITY 12/31/12) AND MARK SANDY WERE THE TOP MANAGEMENT OFFICIALS OF THE EASTERN KENTUCKY UNIVERSITY FOUNDATION. THEIR POSITION AS AN EMPLOYEE OF THE EASTERN KENTUCKY UNIVERSITY IS VICE PRESIDENT OF DEVELOPMENT, AND INTERIM VICE PRESIDENT OF DEVELOPMENT RESPECTIVELY. THEIR COMPENSATION AS SUCH IS DETERMINED VIA COMPENSATION SURVEY. A COUNTY OF MADISON KENTUCKY 616000943 557218AA2 2008-09-04 1770000 FUNDING FOR BUILDING CONSTRUCTION false false false A 615000 0 1770000 0 0 0 35400 17172 0 1717428 0 0 2009 false false true true A false true false false false false 0.70000 0.00000 0.70000 false false 0 false false A false false false true true true FIFTH THIRD 8.0 false false false 0 false false false A false FINANCED PROPERTY USED IN A PRIVATE BUSINESS SCHEDULE K, PART III, LINE 4 DURING THE REPORTING YEAR, EASTERN KENTUCKY UNIVERSITY FOUNDATION, INC. (THE "FOUNDATION") DETERMINED THAT THERE WAS SUBSTANTIAL PRIVATE BUSINESS USE IN CONNECTION WITH CERTAIN BONDS ISSUED FOR THE BENEFIT OF THE FOUNDATION IN 2008 (THE "BONDS"). THIS CONCLUSION HAS BEEN REPORTED TO THE FOUNDATION'S BOARD OF DIRECTORS AND THEY HAVE DIRECTED REPRESENTATIVES OF THE FOUNDATION TO REFINANCE THE BONDS USING TAXABLE FINANCING AND TO SUBMIT THE MATTER TO THE IRS PURSUANT TO THE TAX EXEMPT BONDS VOLUNTARY CLOSING AGREEMENT PROGRAM. ISSUER NAME: County of Madison, Kentucky: No Rebate Due. Schedule K, Part IV, Line 2c THE CALCULATION FOR COMPUTING NO REBATE DUE WAS PERFORMED ON SEE ABOVE. PROCEDURES TO UNDERTAKE CORRECTIVE ACTION SCHEDULE K, PART V WHILE THE FOUNDATION DID NOT HAVE FORMAL WRITTEN PROCEDURES FOR THE IDENTIFICATION AND CORRECTION OF TAX PROBLEMS THAT MIGHT ARISE IN CONNECTION WITH ITS TAX-EXEMPT BONDS, UPON DISCOVERY OF THE ISSUE, IT RETAINED COUNSEL TO REVIEW THE MATTER AND HAS SINCE TAKEN (OR WILL TAKE) THE STEPS OUTLINED ABOVE. ONCE THE BONDS ARE REFINANCED WITH TAXABLE FINANCING, THE FOUNDATION HAS NO PLANS TO USE TAX-EXEMPT FINANCING IN THE FORESEEABLE FUTURE. X 2 7322 OPINIONS OF EXPERTS X 7600 MARKET VALUE X 1 22007 OPINIONS OF EXPERTS X SPORTING EVENT TICKETS 2 20562 COST X TICKETS 1 1070 COST X TICKETS 1 400 COST X EQUIPMENT 1 9580 MARKET VALUE X TICKETS 1 219 COST X DINNER AT MADISON GARDENS 1 450 COST X WINE FOR FRIENDS OF THE LIBRARY PARTY 1 69 COST X FOOD, SERVICES AND SUPPLIES 1 4032 COST 0 false true false Explanations of reporting method for number of contributions Schedule M, Part I ART - WORKS OF ART: NUMBER OF CONTRIBUTIONS. HISTORICAL ARTIFACTS: NUMBER OF CONTIBUTIONS. OTHER: NUMBER OF CONTRIBUTIONS. BOOKS AND PUBLICATIONS: NUMBER OF CONTRIBUTIONS Number of contributions or items contributed. Schedule M, part I, column (b), Line 1 NUMBER OF CONTRIBUTIONS. Number of contributions or items contributed. Schedule M, part I, column (b), Line 22 NUMBER OF CONTIBUTIONS. Number of contributions or items contributed. Schedule M, part I, column (b), Line other=SPORTING EVENT TICKETS NUMBER OF CONTRIBUTIONS. Number of contributions or items contributed. Schedule M, part I, column (b), Line other=TICKETS Review of form 990 by governing body Form 990, Part VI, Section B, Line 11b THE FORM 990 WAS PREPARED BY THE MANAGEMENT OF EASTERN KENTUCKY UNIVERSITY ON BEHALF OF THE EASTERN KENTUCKY UNIVERSITY FOUNDATION, AS EASTERN KENTUCKY UNIVERSITY (EKU) PROVIDES ACCOUNTING AND FINANCIAL STATEMENT PREPARATION SERVICES FOR THE FOUNDATION. THEREFORE, EKU HAS THE INFORMATION NEEDED TO PREPARE THE FORM 990. THE FORM 990 WAS THEN PROVIDED TO EACH MEMBER OF THE GOVERNING BODY FOR REVIEW PRIOR TO FILING WITH THE IRS. Conflict of interest policy Form 990, Part VI, Section B, Line 12c MANAGEMENT OF EASTERN KENTUCKY UNIVERSITY OVERSEES ALL EXPENSES AND PAYMENTS MADE BY THE EKU FOUNDATION. PART OF THE REVIEW INCLUDES MONITORING TRANSACTIONS INVOLVING ANY KNOWN RELATED PARTY ASSOCIATED WITH THE FOUNDATION, INCLUDING MEMBERS OF FOUNDATION MANAGEMENT AND/OR FOUNDATION BOARD MEMBERS. ANY SUSPICIOUS ACTIVITY IS REVIEWED BY UNIVERSITY EXECUTIVE MANAGEMENT. IN ADDITION ALL TRUSTEES AND OFFICERS ARE SURVEYED ANNUALLY, VIA AN EXTENSIVE QUESTIONNAIRE, TO DISCLOSE A VARIETY OF RELATIONSHIPS WITH EACH OTHER OR DIRECTLY WITH THE COLLEGE. WRITTEN WHISTLEBLOWER & DOCUMENT RETENTION & DESTRUCTION POLICIES FORM 990, PART VI, LINE 13 ALTHOUGH THE ORGANIZATION DOES NOT HAVE ITS OWN WRITTEN WHISTLEBLOWER AND WRITTEN DOCUMENT RETENTION AND DESTRUCTION POLICIES, THE ORGANIZATION CURRENTLY FOLLOWS THE WRITTEN POLICIES OF EASTERN KENTUCKY UNIVERSITY, A RELATED TAX-EXEMPT ORGANIZATION. PROCESS USED TO ESTABLISH COMPENSATION OF OFFICERS FORM 990, PART VI, LINE 15 THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL AND TOP FINANCIAL OFFICIAL ARE PAID BY EASTERN KENTUCKY UNIVERSITY, A RELATED TAX-EXEMPT ORGANIZATION. Governing documents, conflict of interest policy and financial statements available to the public Form 990, Part VI, Section C, Line 19 FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICIES ARE NOT REQUIRED DISCLOSURES PURSUANT TO INTERNAL REVENUE CODE (IRC) SECTION 6104. THESE DOCUMENTS ARE NOT AVAILABLE TO THE PUBLIC AT THIS TIME. Number of contributions or items contributed. Schedule M, part I, column (b), Line 4 NUMBER OF CONTRIBUTIONS Number of contributions or items contributed. Schedule M, part I, column (b), Line 1 NUMBER OF CONTRIBUTIONS. Number of contributions or items contributed. Schedule M, part I, column (b), Line 22 NUMBER OF CONTIBUTIONS. Number of contributions or items contributed. Schedule M, part I, column (b), Line other=SPORTING EVENT TICKETS NUMBER OF CONTRIBUTIONS. Number of contributions or items contributed. Schedule M, part I, column (b), Line 4 NUMBER OF CONTRIBUTIONS EASTERN KENTUCKY UNIVERSITY 521 LANCASTER AVE RICHMOND KY 40475 EDUCATION KY N/A NA false false true false false false false true false false true false false true true true true true false false