2013-06-14T10:11:47-05:00 2012-07-31 420714325 MCGLADREY LLP 20 N MARTINGALE RD STE 500 SCHAUMBURG IL 60173 990 2011-08-01 364480416 EDUCATIONAL ADVANCEMENT FUND INC EDUC 3129248000 525 SOUTH STATE STREET CHICAGO IL 606051616 MIROSLAVA MEIJA KRUG 3129248000 2013-06-11 1 BRIANNA COOPER P00956450 8475177070 2011 2016-03-07 17:11:31Z UNIVERSITY CENTER OF CHICAGO JEFFREY BETHKE 525 SOUTH STATE STREET CHICAGO IL 606051616 28733824 0 X WWW.UNIVERSITYCENTER.COM X 2001 DE NONE 6 0 0 0 0 0 0 0 24040677 24486788 660361 654067 2952932 3409116 27653970 28549971 1000000 1550000 0 0 0 0 0 0 0 24886077 24813311 25886077 26363311 1767893 2186660 142179304 141571640 149661264 146866940 -7481960 -5295300 THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS THE MAINTENANCE OF A RESIDENTIAL HOUSING COMPLEX FOR THE BENEFIT OF THREE CHICAGO-AREA TAX-EXEMPT INSTITUTIONS OF HIGHER LEARNING AND PROVIDING HOUSING TO THE STUDENTS THEREOF. 0 0 26246685 1550000 27240797 EDUCATIONAL ADVANCEMENT FUND, INC. IS A NOT-FOR-PROFIT, TAX-EXEMPT ORGANIZATION FORMED TO ACQUIRE LAND AND CONSTRUCT, OPERATE, AND MAINTAIN A COLLEGE AND UNIVERSITY RESIDENTIAL COMPLEX. THE COMPLEX IS LOCATED AT STATE STREET AND CONGRESS PARKWAY IN CHICAGO, ILLINOIS (THE PROJECT). THE CORPORATION COMMENCED CONSTRUCTION OF THE PROJECT IN SPRING 2002, AND WAS SUBSTANTIALLY COMPLETED ON JULY 31, 2004. THE PROJECT BEGAN OPERATIONS IN AUGUST 2004. 26246685 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 33 0 1 0 0 0 0 0 0 0 0 0 0 0 X 6 0 1 1 0 0 1 1 0 1 1 0 0 1 0 0 0 0 0 0 X JOHN D SIMON 3124567114 20 N MICHIGAN AVE SUITE 400 CHICAGO IL 60602 X MIROSLAVA MEIJA KRUG 1.00 X X 0 217009 89972 DR CHARLES MIDDLETON 1.00 X 0 496756 246959 DR WARRICK CARTER 1.00 X 0 399294 327138 FR DENNIS HOLTSCHNEIDER 1.00 X 0 783834 69072 ROBERT KOZOMAN 1.00 X 0 412485 40428 ALICIA BERG 1.00 X 0 201012 34653 JEFFREY BETHKE 1.00 X 0 227385 39605 SHERRI SIDLER 8.00 X 0 145581 23719 0 2883356 871546 0 0 1 0 PREMIER SECURITY CORP 8750 W BRYN MAWR CHICAGO IL 60631 SECURITY 726251 US EQUITIES STUDENT HOUSING 20 N MICHIGAN AVE CHICAGO IL 60602 FACILITY MANAGEMENT 639117 MIDWAY BUILDING SERVICES 465 N OAKLEY CHICAGO IL 60612 JANITORIAL 580536 ARAMARK CORPORATION 1101 MARKET ST PHILADELPHIA PA 19107 DINING SERVICES 495118 NOLAND SALES CORP 815 MITTEL DR WOOD DALE IL 60191 SUPPLIES 148939 9 ROOM AND BOARD SVC 531110 23969567 23969567 RESIDENT LIFE SVC 531110 517221 517221 24486788 654067 654067 838960 183853 655107 655107 655107 CONFERENCE HOUSING INC 532000 2205199 2205199 CONFERENCE CENTER INCO 532000 385333 385333 MISCELLANEOUS INCOME 900099 163477 163477 2754009 28549971 27240797 0 1309174 1550000 1550000 1185460 1185460 55913 55913 34680 34680 155941 155941 91330 91330 198949 198949 1647453 1647453 166994 166994 7647657 7647657 3588935 3588935 251728 251728 FOOD SERVICE EXPENSE 4710654 4710654 CONTRACT SERVICES 3255234 3255234 AMORTIZATION OF DEFERRE 549834 549834 CONFERENCE HOUSING EXPE 549158 549158 723391 697358 26033 26363311 26246685 116626 0 7556060 9012618 599125 951385 132097 145709 135810624 27713345 111022788 108097279 22869234 23364649 142179304 141571640 4081498 4286995 145159962 142260900 419804 319045 149661264 146866940 X -7481960 -5295300 -7481960 -5295300 142179304 141571640 2186660 0 X X 0 1 1 X 0 X X X 0 0 0 COLUMBIA COLLEGE CHICAGO 366112087 02 1 1 1 12454524 DEPAUL UNIVERSITY 362167048 02 1 1 1 3901229 ROOSEVELT UNIVERSITY 362167854 02 1 1 1 6632354 3 22988107 133684567 26605115 107079452 1032907 115619 917288 1093150 992611 100539 108097279 INTEREST RECEIVABLE 163845 DEFERRED FINANCING COSTS, NET 423898 DEFERRED LEASING COMMISSIONS, NET 205415 DEBT SERVICE RESERVE FUND 11395573 CAPITAL MAINTENANCE RESERVE FUND 6075523 PLEDGED REVENUE FUND 734100 SERIES 2006B INTEREST FUND 1489373 SERIES 2006A INTEREST FUND 984562 SERIES 2006B PRINCIPAL FUND 883759 SERIES 2006A PRINCIPAL FUND 23750 OPERATIONS AND MAINTENANCE FUND 984851 23364649 SECURITY DEPOSITS 111497 DEFERRED CONTRACT COMMITMENT 207548 319045 28549971 26363311 2186660 2186660 28733824 183853 183853 28549971 0 28549971 24997164 183853 183853 24813311 1550000 1550000 26363311 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE CORPORATION HAS RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE INDICATING IT IS A TAX-EXEMPT ORGANIZATION UNDER THE SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE AND, EXCEPT FOR TAXES PERTAINING TO UNRELATED BUSINESS INCOME, IS EXEMPT FROM FEDERAL INCOME TAXES. NO PROVISION FOR THE INCOME TAXES WAS REQUIRED FOR THE YEARS ENDED JULY 31, 2012 AND 2011. THE CORPORATION FOLLOWS THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE CORPORATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF THE CORPORATION, AND VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME ("UBIT"). THERE WERE NO UNRECOGNIZED TAX BENEFITS IDENTIFIED OR RECORDED AS LIABILITIES FOR THE YEARS ENDED JULY 31, 2012 AND 2011. THE CORPORATION FILES FORM 990 IN THE U.S. FEDERAL JURISDICTION. THE CORPORATION IS GENERALLY NO LONGER SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR YEARS BEFORE 2008. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 183,853. PART XIII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 183,853. PART XIII, LINE 4B - OTHER ADJUSTMENTS: MEMBER SCHOOL DISTRIBUTIONS 1,550,000. 1 COLUMBIA COLLEGE CHICAGO 600 S MICHIGAN AVENUE CHICAGO IL 60605 366112087 170(B)(1)(A)(II) 679733 SUPPORTING EDUCATIONAL PROGRAMS AND ACTIVITIES DEPAUL UNIVERSITY 1 EAST JACKSON BLVD CHICAGO IL 60604 362167048 170(B)(1)(A)(II) 539303 SUPPORTING EDUCATIONAL PROGRAMS AND ACTIVITIES ROOSEVELT UNIVERSITY 430 S MICHIGAN AVENUE CHICAGO IL 60605 362167854 170(B)(1)(A)(II) 330964 SUPPORTING EDUCATIONAL PROGRAMS AND ACTIVITIES 3 0 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: EDUCATIONAL ADVANCEMENT FUND OPERATES FOR THE SOLE BENEFIT OF DEPAUL UNIVERSITY, COLUMBIA COLLEGE CHICAGO, AND ROOSEVELT UNIVERSITY. ASSISTANCE IS PROVIDED TO THESE INSTITUTIONS AND NO GRANTS ARE MADE. 0 0 0 0 0 0 0 0 0 MIROSLAVA MEIJA KRUG 0 217009 0 0 0 0 0 80759 0 9213 0 306981 0 0 DR CHARLES MIDDLETON 0 496756 0 0 0 0 0 225400 0 21559 0 743715 0 0 DR WARRICK CARTER 0 399294 0 0 0 0 0 163224 0 163914 0 726432 0 0 FR DENNIS HOLTSCHNEIDER 0 498483 0 183500 0 101851 0 19600 0 49472 0 852906 0 0 ROBERT KOZOMAN 0 399925 0 0 0 12560 0 19600 0 20828 0 452913 0 0 ALICIA BERG 0 201012 0 0 0 0 0 13820 0 20833 0 235665 0 0 JEFFREY BETHKE 0 227085 0 0 0 300 0 18539 0 21066 0 266990 0 0 SHERRI SIDLER 0 139356 0 6000 0 225 0 7274 0 16445 0 169300 0 0 ILLINOIS FINANCE AUTHORITY 861091967 45202QBE2 2006-10-20 123570960 STUDENT HOUSING REVENUE REFUNDING BONDS 0 0 0 ILLINOIS FINANCE AUTHORITY 861091967 45202QAR4 2007-02-01 42337296 STUDENT HOUSING REVENUE REFUNDING BONDS 0 0 0 123570960 121510012 2060948 2006 0 1 1 1 42337296 41492344 844952 2007 1 0 1 1 0 0 0 0 0.04000 0.00000 0.04000 1 0 0 0 0 0.04000 0.00000 0.04000 1 1 1 0 0 0 1 0 0 0 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 SEVERAL OFFICERS OF THE EDUCATIONAL ADVANCEMENT FUND ARE ALSO OFFICERS OF MEMBER SCHOOLS. FORM 990, PART VI, SECTION A, LINE 3 DAY-TO-DAY MANAGEMENT OF UNIVERSITY CENTER (UCC) HAS BEEN DELEGATED TO U.S. EQUITIES STUDENT HOUSING LLC (USESH), PURSUANT TO THE TERMS OF A FACILITY MANAGEMENT AGREEMENT. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER SCHOOL IS ALLOWED TO APPOINT DIRECTORS TO THE BOARD. FORM 990, PART VI, SECTION B, LINE 11 THE ORGANIZATION'S TAX ADVISOR PREPARES THE FORM 990 BASED ON INFORMATION PROVIDED BY FINANCIAL MANAGEMENT. THE RETURNS ARE REVIEWED BY THE TAX ADVISOR AND FINANCIAL MANAGEMENT BEFORE BEING ELECTRONICALLY PROVIDED TO THE BOARD OF DIRECTORS AND SUBSEQUENTLY FILED. FORM 990, PART VI, SECTION B, LINE 15: NO COMPENSATION IS PAID TO DIRECTORS AND OFFICERS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE SUCH DOCUMENTS AVAILABLE TO THE GENERAL PUBLIC. FORM 990, PART VII, SECTION A IN ADDITION TO THE TIME DEVOTED TO EDUCATIONAL ADVANCEMENT FUND, INC., EACH MEMBER OF THE GOVERNING BODY ALSO CONTRIBUTES TIME TO ONE OF THREE CHICAGO AREA TAX-EXEMPT INSTITUTIONS THAT ARE SUPPORTED BY EDUCATIONAL ADVANCEMENT FUND, INC. ALICIA BERG, COLUMBIA COLLEGE CHICAGO, AVG. 40 HOURS PER WEEK MIROSLAVA MEIJA KRUG, ROOSEVELT UNIVERSITY, AVG. 40 HOURS PER WEEK DR. WARRICK CARTER, COLUMBIA COLLEGE CHICAGO, AVG. 40 HOURS PER WEEK DR. CHARLES MIDDLETON, ROOSEVELT UNIVERSITY, AVG. 40 HOURS PER WEEK FR. DENNIS HOLTSCHNEIDER, DEPAUL UNIVERSITY, AVG. 40 HOURS PER WEEK JEFFREY BETHKE, DEPAUL UNIVERSITY, AVG. 40 HOURS PER WEEK ROBERT KOZOMAN, DEPAUL UNIVERSITY, AVG. 40 HOURS PER WEEK SHERRI SIDLER, DEPAUL UNIVERSITY, AVG. 40 HOURS PER WEEK FORM 990, PART XII, LINE 2(C) THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. COLUMBIA COLLEGE CHICAGO 600 S MICHIGAN AVENUE CHICAGO IL 60605 366112087 EDUCATION IL 170(B)(1)(A)(II) 02 N/A 0 DEPAUL UNIVERSITY 1 EAST JACKSON BLVD CHICAGO IL 60604 362167048 EDUCATION IL 170(B)(1)(A)(II) 02 N/A 0 ROOSEVELT UNIVERSITY 430 S MICHIGAN AVENUE CHICAGO IL 60605 362167854 EDUCATION IL 170(B)(1)(A)(II) 02 N/A 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 COLUMBIA COLLEGE CHICAGO K 11774791 CASH TRANSFERS DEPAUL UNIVERSITY K 3361926 CASH TRANSFERS ROOSEVELT UNIVERSITY K 6301390 CASH TRANSFERS COLUMBIA COLLEGE CHICAGO Q 679733 CASH DISTRIBUTIONS DEPAUL UNIVERSITY Q 539303 CASH DISTRIBUTIONS ROOSEVELT UNIVERSITY Q 330964 CASH DISTRIBUTIONS