2012-03-25T21:00:03-05:00 2011-06-30 CROWE HORWATH LLP 9600 Brownsboro Road Suite 400 Louisville KY 402411122 990 2010-07-01 611131682 EASTERN KENTUCKY UNIVERSITY FOUNDATION INC EAST 8596225012 521 Lancaster Ave Coates Box 15A Richmond KY 40475 DEBORAH C NEWSOM 2011-09-13 true 5023263996 2010 2016-02-24 21:20:13Z DUSTAN MCCOY 521 Lancaster Ave CPO 15A Richmond KY 40475 12727759 false X HTTP://WWW.EKU.EDU/DEVELOPMENT/WEB10/EKU_FOUNDATION.PHP 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. 19 19 0 50 0 0 2809064 3191563 71061 75245 -71069 1314130 570738 540957 3379794 5121895 2175754 3185542 0 0 0 0 0 0 115212 950480 859124 3126234 4044666 253560 1077229 48945697 57016036 18393994 21610536 30551703 35405500 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 2842691 2721324 295853 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. 464218 464218 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. 212444 0 75245 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. 3519353 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 false false false false true false false false false true 0 0 0 false false false false false false false false false false X 19 19 false false false false false false false true true false false true true false true false false false false false KY X Deborah C Newsom 8596225012 521 Lancaster Ave Coates Box 31A Richmond KY 40475 X DEBORAH NEWSOM 3 X 0 144104 17264 JOSEPH FOSTER 20 X 0 133939 16400 DUSTAN E MCCOY 1 X X 0 0 0 RONALD NOEL 1 X X 0 0 0 WILLIAM P CLEMENTS JR 1 X X 0 0 0 TOM COFFEY 1 X 0 0 0 PAUL R COLLINS 1 X 0 0 0 JANE BOYER 1 X 0 0 0 DONALD R DIZNEY 1 X 0 0 0 TIMOTHY C BROWN 1 X 0 0 0 TONYA T CRUM 1 X 0 0 0 PAUL W CHELLGREN 1 X 0 0 0 BETTY MAUPIN POGUE 1 X 0 0 0 BARBARA A RICKE 1 X 0 0 0 BILL DAUGHERTY 1 X 0 0 0 GAIL SCHOMP 1 X 0 0 0 HAROLD T DANIEL 1 X 0 0 0 RITCHIE REDNOUR 1 X 0 0 0 BOB MORGAN 1 X 0 0 0 HARDY TRIBBLE 1 X 0 0 0 CRAIG TURNER 1 X 0 0 0 MARY JEAN GILTNER 1 X 0 0 0 0 278043 33664 0 false true false HIRTLE CALLAGHAN 300 BARR HARBOR RD WEST CONSHOHOCKEN PA 19428 INVESTMENT SERVICES 102217 1 3191563 277361 3191563 ALUMNI EVENTS 900099 75245 75245 0 0 0 0 75245 861351 861351 0 0 287604 0 42500 0 245104 0 245104 245104 8016143 0 7563364 0 452779 0 452779 452779 0 0 0 MISCELLANEOUS REVENUES 900099 295853 295853 0 0 0 0 295853 5121895 371098 0 1559234 3185542 3185542 0 0 0 0 0 0 0 0 0 0 0 16000 16000 0 0 102217 102217 9248 9248 7716 7716 99508 99508 20560 20560 0 0 89449 89449 0 2613 2613 47042 47042 0 91917 91917 20996 20996 ALUMNI EXPENSES/FUNCTIONS 212444 212444 UNCOLLECTIBLE PLEDGES 24551 24551 MEMBERSHIPS & OTHER DUES 25763 25763 89100 89100 0 0 4044666 3519353 410101 115212 0 2867122 1934353 1061603 2805097 877521 776762 21612 55413 4717 1000 5772987 274008 5132397 5498979 32098827 38061834 6413147 7084677 0 0 468751 797921 48945697 57016036 14998 27727 1625000 1475000 16051652 19387879 702344 719930 18393994 21610536 X 7272977 5215508 3286898 6157824 19991828 24032168 30551703 35405500 48945697 57016036 X 1077229 3776568 X false true true X false X 2290479 1845777 3083953 2809064 3191563 13220836 0 0 2290479 1845777 3083953 2809064 3191563 13220836 1896862 11323974 1432918 1415995 929327 1192171 1148955 6119366 0 554012 1132742 409854 0 0 2096608 21436810 89899 0.52820 0.50420 X OTHER INCOME, SCHEDULE A, PART II, SECTION B, LINE 10, 2006 - $ 554,012 2007 - $1,132,742 2008 - $ 409,854 2009 - NONE 2010 - NONE, RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 false true 39573556 2310582 8341711 464218 170689 102217 49488725 41377499 0 5899265 526974 6988487 187747 39573556 52336603 1843863 -10770294 806167 1045187 181319 41377499 0.11337 0.88663 0.00000 true false 2450373 2450373 2585083 36497 2548586 523225 154845 368380 152884 60912 91972 61422 21754 39668 5498979 0 0 HEDGE FUNDS 4436658 F LIMITED PARTNERSHIPS 2648019 F 7084677 0 ANNUITY PAYMENTS AND DEFERRED GIVING LIABILITY 397236 FAIR VALUE ADJUSTMENT IN INTEREST RATE SWAP 103142 DUE TO RELATED PARTY - ARLINGTON 54730 DUE TO RELATED PARTY - UNIVERSITY 164822 719930 5121895 4044666 1077229 3805621 -29053 3776568 4853797 8867799 3805621 42500 3848121 5019678 102217 0 102217 5121895 4014002 71553 71553 3942449 102217 0 102217 4044666 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, 2011 AND 2010 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, 2011 AND 2010. THE FOUNDATION IS NO LONGER SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR THE YEARS BEFORE JUNE 30, 2008. Other changes in net assets Schedule D, Part XI, Line 8 UNREALIZED INCREASE IN ANNUITIES PAYABLE - -29053; Other revenues in audited financial statements not in form 990 Schedule D, Part XII, Line 2d DEPRECIATION ON RENTAL PROPERTIES - 42500; Other expenses in audited financial statements not in form 990 Schedule D, Part XIII, Line 2d UNREALIZED INCREASE IN ANNUITIES PAYABLE - 29053; DEPRECIATION ON RENTAL PROPERTIES - 42500; CENTRAL AMERICA AND THE CARIBBEAN 0 0 PASSIVE INVESTMENTS 7084677 0 0 7084677 true false true false false false true EASTERN KENTUCKY UNIVERSITY 521 LANCASTER AVENUE RICHMOND KY 40475 611011211 GOVERNMENT 3185542 0 N/A N/A ACADEMIC PROGRAM SUPPORT 1 0 Procedures for monitoring use of grant funds Schedule I, Part I, Line 2 GRANT AND SCHOLARSHIP RECIPIENTS ARE REQUIRED TO SUBMIT INFORMATION THAT SUPPORTS ELIGIBILITY FOR THESE FUNDS. THIS INCLUDES FORMAL APPLICATIONS FOR MERIT SCHOLARSHIPS AND THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) TO QUALIFY FOR GRANTS AND SCHOLARSHIPS BASED ON FINANCIAL NEED. THESE APPLICATIONS/FORMS ARE REVIEWED BY EASTERN KENTUCKY UNIVERSITY FINANCIAL AID STAFF AND THE GRANTS AND SCHOLARSHIPS ARE AWARDED THROUGH THAT OFFICE BASED ON ELIGIBILITY. DOCUMENTATION IS RETAINED REGARDING THE QUALIFICATIONS FOR AND THE AMOUNTS AWARDED TO THESE STUDENTS. false false false false false false false DEBORAH NEWSOM 0 144104 0 0 0 0 0 12249 0 5015 0 161368 0 0 JOSEPH FOSTER 0 133939 0 0 0 0 0 11385 0 5015 0 150339 0 0 METHODS USED TO ESTABLISH COMPENSATION OF CEO/EXECUTIVE DIRECTOR 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. COUNTY OF MADISON KENTUCKY 616000943 557218AA2 2008-09-04 1770000 FUNDING FOR BUILDING CONSTRUCTION false false false 295000 0 1770000 0 0 0 35400 17172 0 1717428 0 0 2009 false false true true false false false false 0.0000 0.0000 0.0000 true false true true FIFTH THIRD 8.0 false false false false true X 3 117871 MARKET VALUE X 1 126000 MARKET VALUE X SOFTWARE LICENSES 1 27000 MARKET VALUE X BEE-KEEPING SUPPLIES 1 3400 MARKET VALUE X MISCELLANEOUS 4 3090 MARKET VALUE 2 false true false 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. Public Disclosure 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. WRITTEN WHISTLEBLOWER & DOCUMENT RETENTION & DESTRUCTION POLICIES FORM 990, PART VI, SECTION B, LINES 13-14 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, SECTION B, LINES 15A-B THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL AND TOP FINANCIAL OFFICIAL ARE PAID BY EASTERN KENTUCKY UNIVERSITY, A RELATED TAX-EXEMPT ORGANIZATION. Average hours worked per week for related organization Form 990, Part VII, Section A, Column B DEBORAH NEWSOM - IS THE VICE PRESIDENT OF EASTERN KENTUCKY UNIVERSITY AND TOP FINANCIAL OFFICIAL OF THE FOUNDATION. SHE WORKS AN AVERAGE OF 50 HOURS PER WEEK, 3 OF OF WHICH ARE DEDICATED TO THE FOUNDATION AND APPROXIMATELY 47 OF WHICH ARE DEVOTED TO THE UNIVERSITY. JOSEPH FOSTER - IS THE VICE PRESIDENT OF EASTERN KENTUCKY UNIVERSITY AND TOP MANAGEMENT OFFICIAL OF THE FOUNDATION. HE WORKS AN AVERAGE OF 50 HOURS PER WEEK, 20 WHICH ARE DEDICATED TO THE FOUNDATION, AND APPROXIMATELY 30 OF WHICH ARE DEVOTED TO THE UNIVERSITY. Other changes in net assets or fund balances Form 990, Part XI, Line 5 NET UNREALIZED GAINS (LOSSES) ON INVESTMENTS - 3805621; UNREALIZED INCREASE IN ANNUITIES PAYABLE - -29053; EASTERN KENTUCKY UNIVERSITY 521 LANCASTER AVE RICHMOND KY 40475 EDUCATION KY 501(C)(1) N/A NA false true false false false false false false false false false true true true false false false false