2012-12-20T15:44:13-06:00 2012-06-30 KPMG LLP 50 North Front Street Suite 900 Memphis TN 38103 990 2011-07-01 237310293 UNIVERSITY OF MISSISSIPPI FOUNDATION % MAGGIE ABERNATHY UNIV 6629155944 POST OFFICE BOX 249 MEMORY HOUSE UNIVERSITY MS 386770249 MAGGIE ABERNATHY 6629155944 2012-12-20 true 9015233131 2012-12-20 2011 2016-02-24 21:20:13Z MR WENDELL WEAKLEY UNIV OF MS FOUNDATION UNIVERSITY MS 38677 150364924 false X WWW.UMF.OLEMISS.EDU X 1973 MS THE FOUNDATION IS RESPONSIBLE FOR RECEIVING, RECEIPTING,INVESTING, AND DISTRIBUTING GIFTS FOR THE BENEFIT OF THE UNIVERSITY OF MISSISSIPPI 30 29 16 28 -3602 -22774 26304673 35673125 1566752 1600101 9369176 5089984 354264 366221 37594865 42729431 45669206 32529999 0 0 1403196 1535188 352949 401532 1279171 2163283 2681495 49588634 37148214 -11993769 5581217 344875851 338435850 38517215 33416874 306358636 305018976 X THE UNIVERSITY OF MISSISSIPPI FOUNDATION IS A NONPROFIT CORPORATION CHARTERED IN 1973 BY THE STATE OF MISSISSIPPI TO OPERATE PRIMARILY FOR THE BENEFIT OF THE UNIVERSITY OF MISSISSIPPI. THE FOUNDATION IS RESPONSIBLE FOR RECEIVING, RECEIPTING, INVESTING AND DISTRIBUTING ALL GIFTS FOR THE BENEFIT OF THE UNIVERSITY OF MISSISSIPPI. IT PURSUES THIS MISSION IN AN ENVIRONMENT OF PRODUCTIVE TEAMWORK, EFFECTIVE COMMUNICATION, AND RELENTLESS SERVICE TO OUR DONORS, UNIVERSITY ADMINISTRATORS, FACULTY, STAFF AND STUDENTS. COMMUNICATION OF UNIVERSITY NEEDS AND PRIORITIES ALONG WITH ENCOURAGING INVESTMENT IN THE FUTURE OF OLE MISS ARE INTEGRAL TO OUR SUCCESS. INTEGRITY, HONOR, CIVILITY, SERVICE AND RESPECT FOR OUR DONORS AND THEIR WISHES SERVE AS THE FOUNDATION'S GUIDING PRINCIPLES. false false 15314933 15314933 UNIVERSITY PROGRAMS - TRANSFERS TO THE UNIVERSITY TO BE USED TO PROVIDE NON-ACADEMIC PROGRAMS AND ACTIVITIES, SUCH AS HONORS PROGRAMS, LIBRARIES, AND SPECIAL EVENTS 5117998 5117998 SCHOLARSHIPS - TRANSFERS TO THE UNIVERSITY FOR DIRECT STUDENT FINANCIAL SUPPORT. 5614068 5614068 ACADEMIC EXCELLENCE - TRANSFERS TO UNIVERSITY ACADEMIC DEPARTMENTS FOR FACULTY AND GENERAL USE, ACCOUNTANCY, APPLIED SCIENCE, BUSINESS, EDUCATION, ENGINEERING, JOURNALISM, LAW, LIBERAL ARTS, MEDICAL CENTER, PHARMACY, OUTREACH, AND RESEARCH. 7334234 6483000 33381233 true true false false false false false false true true true false false true false true false false false false false false true true false false true false true false false false false false false false false true true false false true true true false false false true 86 0 true 16 true true true false false false false false false false false false X 30 29 true false false false false false false true true false false true true true true true true false false false AK AR CA CO CT FL LA MD MA MS NH NJ NY OH UT WA WV X X MAGGIE ABERNATHY 6629153851 406 UNIVERSITY AVENUE OXFORD MS 38655 X WENDELL W WEAKLEY 40.0 X X 215324 0 47950 ROBERT R BAILESS 0.01 X 0 0 0 LOUIS K BRANDT 0.01 X 0 0 0 DAVID E BREVARD 0.01 X 0 0 0 CHARLES T CANNADA 0.01 X 0 0 0 MEREDITH W CREEKMORE 0.01 X 0 0 0 JAN G FARRINGTON 0.01 X 0 0 0 ROGER P FRIOU 0.01 X 0 0 0 MARTHA DALE FRITTS 0.01 X 0 0 0 JAMIE G HOUSTON 0.01 X 0 0 0 MICHAEL T MCREE 0.01 X 0 0 0 ELIZABETH W QUIRK 0.01 X 0 0 0 JON C TURNER 0.01 X 0 0 0 ALLEN H CROSSWELL 0.01 X 0 0 0 MARKEEVA A MORGAN 0.01 X 0 0 0 ROLAND O BURNS JR 0.01 X 0 0 0 C YORK CRAIG JR 0.01 X 0 0 0 SAMUEL B HASKELL III 0.01 X 0 0 0 SALLY H HEDERMAN 0.01 X 0 0 0 ABBY M MANNING 0.01 X 0 0 0 ROBERT SEIBELS III 0.01 X 0 0 0 JOHN SUMNER 0.01 X 0 0 0 RICHARD G NOBLE 0.01 X 0 0 0 LARRY H BRYAN 0.01 X 0 0 0 W HUNTER CARPENTER 0.01 X 0 0 0 ROSE J FLENORL 0.01 X 0 0 0 R MAYO FLYNT III 0.01 X 0 0 0 SUSAN C MCCORMICK 0.01 X 0 0 0 CHARLES L OVERBY 0.01 X 0 0 0 RODNEY F TRIPLETT JR 0.01 X 0 0 0 SANDRA M GUEST 40.0 X 116099 0 24994 MAGGIE E ABERNATHY 40.0 X 86007 0 20554 RONNIE D GUEST 40.0 X 113897 0 24608 531327 0 118106 3 false true false KPMG PO Box 120001 DALLAS TX 753120561 AUDITING AND TAX SER 127020 RUFFALO CODY PO BOX 3018 CEDAR RAPIDS IA 52406 FUNDRAISING 297718 2 22803 7492354 28157968 8569208 35673125 UMMC PROGRAM REIMBURSEMENTS 611710 919154 919154 FOOTBALL GAME TICKETS 611710 434210 434210 CONTINUING EDUCATION FEES 611430 125369 125369 FELLOWSHIPS 611710 50000 50000 GRANTS 611430 40000 40000 31368 31368 1600101 5489446 -3602 5493048 0 28367 28367 959010 607428 351582 351582 351582 106484288 106883750 -399462 -399462 -399462 124707 22803 144315 -19608 -19608 0 0 LIFE INSURANCE PROCEEDS 525100 5880 5880 5880 42729431 1600101 -3602 5459807 32529999 32529999 0 0 0 531325 531325 0 0 641438 0 568959 72479 165043 0 165043 0 117012 0 117012 0 80370 0 80370 0 0 0 150788 0 150788 0 0 401532 401532 448861 448861 0 430778 22490 0 408288 247180 94178 78565 74437 107656 0 74128 33528 0 19882 464 11958 7460 1012923 734286 19502 259135 0 11064 0 0 11064 0 0 141019 0 141019 0 66102 0 66102 0 DUES AND SUBSCRIPTIONS 1773 0 1773 0 UMMC FUND EXPENSES 14343 0 3095 11248 OTHER 29126 -184 29310 0 37148214 33381233 2487810 1279171 0 0 6878425 2747334 20660408 19675498 0 0 0 0 0 0 0 0 0 0 0 0 4787785 1587147 1883903 3200638 206931261 199468322 92786515 104179255 0 0 0 0 15735339 9164803 344875851 338435850 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 38517215 33416874 38517215 33416874 X 7720791 11295599 139550955 123377256 159086890 170346121 306358636 305018976 344875851 338435850 X 5581217 -6920877 X false true true X false X false false false 30893175 29102427 24104783 26304673 35673125 146078183 30893175 29102427 24104783 26304673 35673125 146078183 36092673 109985510 14112380 10435612 10195810 9869915 6476823 51090540 34630 0 34630 2090112 1377595 26144 6589 5880 3506320 200709673 13077265 0.54798 0.52996 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false 219164513 7797504 -5021259 7337645 214603113 184023095 7781885 34250933 6891400 219164513 154131254 9961425 23697783 3767367 184023095 186234060 7309781 -30375798 9036789 154131254 0.00189 0.76173 0.24016 false false 300000 300000 4787785 1587147 2900638 3200638 CERTIFICATES OF DEPOSIT 106536 F REAL ESTATE TYPE INVESTMENTS 17565697 F HEDGE AND VENTURE FUNDS 86507022 F 104179255 0 FUNDS HELD FOR OTHERS 19642394 REMAINDER TRUST LIABILITIES 6117511 OTHER LIABILITIES 7656969 33416874 42729431 37148214 5581217 -7423126 502250 -6920876 -1339659 36142152 -7423126 502250 -6920876 43063028 -333597 -333597 42729431 37481812 37481812 -333598 -333598 37148214 INTENDED USE OF ORGANIZATION'S ENDOWMENT FUNDS PART V, LINE 4 THE FOUNDATION INTENDS TO USE THE ENDOWMENTS FOR THE BENEFIT OF THE UNIVERSITY OF MISSISSIPPI BY PROVIDING FUNDING FOR SCHOLARSHIPS AND OTHER UNIVERSITY ACTIVITIES. OTHER RECONCILIATION BETWEEN NET ASSETS, FINANCIAL STMTS, AND RETURN PART XI, LINE 8 AND PART XII, LINE 2D CHANGE IN VALUE OF THE UNREALIZED INVESTMENT IN SPLIT INTEREST AGREEMENTS AND CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE POLICIES. OTHER RECONCILIATION BETWEEN NET ASSETS, FINANCIAL STMTS, AND RETURN PART XII, LINE 4B INVESTMENT MANAGEMENT FEES THAT ARE NETTED WITH INTEREST AND DIVIDEND INCOME IN THE AUDITED FINANCIAL STATEMENT, BUT NOT REPORTED SEPARATELY FOR TAX RETURN PURPOSES IN PART VIII, LINE 3: 448,861; RENTAL EXPENSES THAT ARE NETTED WITH RENTAL INCOME IN PART VIII, LINE 6, BUT REPORTED SEPARATELY AS AN EXPENSE FOR AUDITED FINANCIAL STATEMENT PURPOSES: (607,428); CREDIT CARD INCOME THAT IS REPORTED NET OF CREDIT CARD EXPENSES IN PART IX, LINE 24B: (30,716); FUNDRAISING EXPENSES THAT ARE REPORTED NET OF FUNDRAISING INCOME INC PART VIII, LINE 12, BUT REPORTED SEPARATELY AS AN EXPENSE FOR AUDITED FINANCIAL STATEMENT PURPOSES: (144,315). OTHER RECONCILIATION OF EXPENSES PER AFS WITH EXPENSES ON RETURN PART XIII, LINE 4B INVESTMENT MANAGEMENT FEES THAT ARE NETTED WITH INTEREST AND DIVIDEND INCOME IN THE AUDITED FINANCIAL STATEMENTS, BUT ARE SHOWN SEPARATELY FOR TAX RETURN PURPOSES ON PART IX, LINE 11F: 448,861; RENTAL EXPENSES THAT ARE NETTED WITH RENTAL INCOME IN PART VIII, LINE 6 BUT REPORTED SEPARATELY AS EXPENSES FOR AUDITED FINANCIAL STATEMENT PURPOSES: (607,428).CREDIT CARD INCOME THAT IS REPORTED NET OF CREDIT CARD EXPENSES IN PART IX, LINE 24B: (30,716); FUNDRAISING EXPENSES THAT ARE REPORTED NET OF FUNDRAISING INCOME INC PART VIII, LINE 12, BUT REPORTED SEPARATELY AS AN EXPENSE FOR AUDITED FINANCIAL STATEMENT PURPOSES: (144,315). X X X X true RUFFALO CODY PHONE SOLICITING false 597288 297718 299571 MAHAFFAY'S QUALITY PRINTING MAIL SOLICITING false 274047 53980 220068 871335 351698 519639 AK AR CA CO CT FL LA MD MA MS NH NJ NY OH UT WA WV GLEN CAMPBELL 74116 74116 27500 78462 TASTE OF U 12968 12968 2439 4 60425 22803 37622 5500 5400 500 24513 147509 22803 124706 5500 5400 28000 105414 144314 -19608 true UNIVERSITY OF MISSISSIPPI 216 LYCEUM UNIVERSITY MS 38677 646001159 501(c)(3) 28956813 SEE PART IV UNIVERSITY OF MISSISSIPPI MEDICAL CENTER 2500 NORTH STATE STREET JACKSON MS 39216 646008520 501(C)(3) 3348715 SEE PART IV UNIVERSITY OF MISSISSIPPI 216 LYCEUM UNIVERSITY MS 38677 646001159 501(c)(3) 224471 COMP SALES VARIOUS SEE PART IV MONITORING PROCEDURES OF FUNDS IN THE US PART I, LINE 2 THE UNIVERSITY OF MISSISSIPPI FOUNDATION DISBURSES FUNDS DIRECTLY TO THE UNIVERYITY OF MISSISSIPPI AS REQUESTED BY DEPARTMENTS WITHIN THE SCHOOL. FUNDS SENT TO THE UNIVERSITY AS A CASH GRANT ARE NOT DISBURSED WITHOUT THE FOUNDATION RECEIVING WRITTEN REQUEST AND PROPER APPROVAL AND AUTHORIZATION FROM THE DESIGNATED DEPARTMENT THE PAYMENT IS TO BENEFIT. THE UNIVERSITY DOES NOT MONITOR THE GRANTS DIRECTLY MADE TO THE UNIVERSITY ONCE THE MONEY IS DISBURSED. PURPOSE OF GRANTS PART II, LINE 1 GRANTS PAID TO THE UNIVERSITY OF MISSISSIPPI ACADEMIC EXCELLENCE: 5,614,068 UNIVERSITY SUPPORT: 15,314,933: SCHOLARSHIPS: 5,117,998 ALL OTHER UNIVERSITY GRANTS: 2,909,814 VARIOUS NON-CASH ASSETS: 224,471. GRANTS PAID TO THE UNIVERSITY OF MISSISSIPPI MEDICAL CENTER TO FUND OPERATIONAL EXPENSES OF THE MEDICAL CENTER 3,348,715 . X false false false false false false false false false WENDELL W WEAKLEY 215324 0 0 0 0 30400 0 17550 0 263274 0 0 0 COMPENSATION PROCESS SCHEDULE J, PART I, LINE 3 IN ORDER TO ESTABLISH THE COMPENSATION OF THE FOUNDATION'S CEO/EXECUTIVE DIRECTOR, PROPOSED ADJUSTMENTS ARE PRESENTED TO THE EXECUTIVE COMMITTEE OF THE BOARD FOR INDIVIDUAL APPROVAL. IN THE CURRENT YEAR, THE FOUNDATION ALSO PARTICPATED IN AN INDEPENDENT COMPENSATION STUDY CONDUCTED BY MCCONNELL & COMPANY TO COMPARE THE UNIVERSITY OF MISSISSIPPI FOUNDATION COMPENSATION AMOUNTS TO THAT OF OTHER SEC FOUNDATIONS. X 10 143744 APPRAISAL X 38392 COMPARABLE SALES X 32 1518366 AVERAGE HIGH-LOW X 1 50579 BUSINESS VALUATION X 1 700 APPRAISAL X PAINT 1 400 ACTUAL COST X PAPER 1 1225 ACTUAL COST X FILM,DVD,VIDEO 1 20 ACTUAL COST X RUGS 1 6815062 APPRAISAL X WINE 1 720 ACTUAL COST 6 true true false Other Property - 32 Oriental Rugs Schedule M, Part I, Line 30b 32 oriental rugs worth $6,815,062 were contributed as a one-time non-cash contribution in the current year. $2,798,669 of these rugs have been transferred to the University of Mississippi for use on its campus. $1,407,393 of rugs has been placed in service within several Foundation properties.The remainder are held with the intention to sell in 2014. These rugs must me held at least three years from the date of initial contribution and are not required to be used for exempt purposes for the entire holding period. OTHER PROGRAM SERVICES PART III, LINE 4D OTHER PROGRAM EXPENSES - FUNDS TRANSFERRED FOR UNIVERSITY FACILITIES, SALARY, OFFICE, TRAVEL, PROMOTION, ETC. COMPLIANCE POLICY PART VI, LINE 12C ANNUALLY, EACH BOARD MEMBER IS REQUIRED TO REVIEW THE FOUNDATION CONFLICT OF INTEREST POLICY. THIS IS DOCUMENTED BY A SIGNED CONFIRMATION STATEMENT FROM EACH MEMBER. 990 REVIEW PART VI, LINE 11A AS PER THE FOUNDATION BY-LAWS AND THE CHARTER OF THE AUDIT COMMITTEE, THE AUDIT COMMITTEE REVIEWS THE FORM 990 WITH FOUNDATION MANAGEMENT. THIS IS DOCUMENTED IN THE COMMITTEE MINUTES. THE 990 IS EMAILED TO EACH MEMBER OF THE GOVERNING BODY PRIOR TO THE FILING OF THE TAX RETURN. PUBLIC AVAILABILITY OF DOCUMENTS PART VI, LINE 19 THE FOUNDATION GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AS WELL AS POSTED TO THE FOUNDATION WEBSITE AT WWW.UMFOUNDATION.COM. FAMILY RELATIONSHIP PART VI, LINE 2 SANDRA M. GUEST, VICE-PRESIDENT/SECRETARY AND RONNIE D. GUEST, DIRECTOR OF FOUNDATION SERVICES HAVE A FAMILY RELATIONSHIP. CHANGES IN NET ASSETS PART XI LINE 5 UNREALIZED GAIN/(LOSS) ON INVESTMENTS ($7,423,126) CHANGE IN VALUE OF CASH SURRENDER AGREEMENTS $483,601 CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE POLICIES $18,649 UNIV OF MISS FOUNDATION REALTY LLC PO Box 249 UNIVERSITY MS 38677 205945758 REAL ESTATE MS 1560414 UMF ISOM PLACE LLC PO Box 249 UNIVERSITY MS 38677 640865754 FACILITY RENT MS 5800 761689 UMF MISSISSIPPI COMMON FUND TRUST POST OFFICE BOX 249 MEMORY HOUSE UNIVERSITY MS 38677 640875827 FUNDRAISING MS 501(C)(3) PF UMF true UNIVERSITY OF MISSISSIPPI 216 LYCEUM UNIVERSITY MS 38677 646001159 PUBLIC UNIV MS 501(C)(3) 509(a)(1) NA false UNIVERSITY OF MISSISSIPPI MEDICAL CENTER 2500 NORTH STATE STREET JACKSON MS 39216 646008520 MEDICAL UNIV MS 501(C)(3) 509(a)(1) NA false CHARITABLE REMAINDER UNITRUST (16) PO BOX 249 UNIVERSITY MS 38677 TRUST MS UMF TRUST CHARITABLE LEAD UNITRUST (1) PO BOX 249 UNIVERSITY MS 38677 TRUST MS UMF TRUST CHARITABLE REMAINDER ANNUITY TRUST (7) PO BOX 249 UNIVERSITY MS 38677 TRUST MS UMF TRUST false true true false false false false false true false true false true false false false false false UNIVERSITY OF MISSISSIPPI B 29181284 CASH PAID UNIVERSITY OF MISSISSIPPI MEDICAL CENTER B 3348715 CASH PAID MISSISSIPPI COMMON FUND TRUST C 7492354 CASH RECEIVED UNIVERSITY OF MISSISSIPPI I 153653 BILLING AGMT UNIVERSITY OF MISSISSIPPI K 334500 AFFL. AGMT