2012-07-03T10:14:02-05:00 2011-07-31 MCGLADREY LLP 20 N MARTINGALE RD STE 500 SCHAUMBURG IL 60173 990 2010-08-01 364480416 EDUCATIONAL ADVANCEMENT FUND INC EDUC 3129248000 525 SOUTH STATE STREET CHICAGO IL 606051616 MIROSLAVA MEIJA KRUG 3129248000 2012-06-29 1 WAYNE HARDER 8475177070 2010 2016-02-24 21:20:13Z X UNIVERSITY CENTER OF CHICAGO JEFFREY BETHKE 525 SOUTH STATE STREET CHICAGO IL 606051616 27852112 0 X WWW.UNIVERSITYCENTER.COM X 2001 DE NONE 6 0 0 12 0 0 0 0 24187431 24040677 666149 660361 2480334 2952932 27333914 27653970 1500000 1000000 0 0 0 0 0 0 0 25432447 24886077 26932447 25886077 401467 1767893 142350843 142179304 151600696 149661264 -9249853 -7481960 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 25742341 1000000 26173859 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. 25742341 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 12 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 3124567000 20 N MICHIGAN AVE SUITE 400 CHICAGO IL 60602 X WARRICK CARTER 1.00 X 0 341205 278244 CHARLES MIDDLETON 1.00 X 0 495897 106606 DENNIS HOLTSCHNEIDER 1.00 X 0 729393 87215 MIROSLAVA MEIJA KRUG 1.00 X X 0 209341 45075 ALICIA BERG 1.00 X 0 201892 37697 ROBERT KOZOMAN 1.00 X 0 443941 63728 JEFFREY BETHKE 1.00 X 0 240281 39696 SHERRI SIDLER 8.00 X 0 132801 14414 0 2794751 672675 0 0 1 0 MIDWAY BUILDING SERVICES INC 465 N OAKLEY CHICAGO IL 60612 JANITORIAL 692433 PREMIER SECURITY CORP 8750 W BRYN MAWR CHICAGO IL 60631 SECURITY 684831 US EQUITIES STUDENT HOUSING LLC 20 N MICHIGAN AVE CHICAGO IL 60602 FACILITY MANAGEMENT 600704 ARAMARK CORPORATION 1101 MARKET STREET PHILADELPHIA PA 19107 DINING SERVICES 485489 HARD SURFACE FINISHERS INC 960 N SIVERT DRIVE WOOD DALE IL 60642 REPAIRS 186465 8 ROOM AND BOARD SVC 531110 23523453 23523453 RESIDENT LIFE SVC 531110 517224 517224 24040677 660361 660361 1017892 198142 819750 819750 819750 CONFERENCE HOUSING INC 532000 1588619 1588619 CONFERENCE CENTER INCO 532000 348658 348658 MISCELLANEOUS INCOME 900099 195905 195905 2133182 27653970 26173859 0 1480111 1000000 1000000 1126536 1126536 87614 87614 33390 33390 190801 190801 89900 89900 209125 209125 1840507 1840507 161787 161787 7797372 7797372 3495118 3495118 252552 252552 FOOD SERVICE EXPENSE 4511964 4511964 CONTRACT SERVICES 3250455 3250455 AMORTIZATION OF DEFERRE 587691 587691 CONFERENCE HOUSING EXPE 501099 501099 REPAIRS & MAINTENANCE 400119 400119 350047 327315 22732 25886077 25742341 143736 0 3619935 7556060 331171 599125 163360 132097 135151755 24128967 112977923 111022788 25258454 22869234 142350843 142179304 3539614 4081498 147552859 145159962 508223 419804 151600696 149661264 X -9249853 -7481960 -9249853 -7481960 142350843 142179304 1767893 0 X X 0 1 1 X 0 X X X 0 0 0 COLUMBIA COLLEGE CHICAGO 366112087 02 1 1 1 12013515 DEPAUL UNIVERSITY 362167048 02 1 1 1 3605796 ROOSEVELT UNIVERSITY 362167854 02 1 1 1 6471649 3 22090960 133114201 23220718 109893483 1013057 86678 926379 1024497 821571 202926 111022788 INTEREST RECEIVABLE 163559 DEFERRED FINANCING COSTS, NET 483858 DEFERRED LEASING COMMISSIONS, NET 198774 DEBT SERVICE RESERVE FUND 11961497 CAPITAL MAINTENANCE RESERVE FUND 3362686 PLEDGED REVENUE FUND 2776657 SERIES 2006B INTEREST FUND 1359663 SERIES 2006A INTEREST FUND 562834 SERIES 2006B PRINCIPAL FUND 815000 SERIES 2006A PRINCIPAL FUND 22500 OPERATIONS AND MAINTENANCE FUND 1162206 22869234 SECURITY DEPOSITS 137256 DEFERRED CONTRACT COMMITMENT 282548 419804 27653970 25886077 1767893 0 1767893 27852112 198142 198142 27653970 0 27653970 25084219 198142 198142 24886077 1000000 1000000 25886077 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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, 2011 AND 2010. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 198,142. PART XIII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 198,142. PART XIII, LINE 4B - OTHER ADJUSTMENTS: MEMBER SCHOOL DISTRIBUTIONS 1,000,000. 1 COLUMBIA COLLEGE CHICAGO 600 S MICHIGAN AVENUE CHICAGO IL 60605 366112087 170(B)(1)(A)(II) 449424 SUPPORTING EDUCATIONAL PROGRAMS AND ACTIVITIES DEPAUL UNIVERSITY 1 EAST JACKSON BLVD CHICAGO IL 60604 362167048 170(B)(1)(A)(II) 345426 SUPPORTING EDUCATIONAL PROGRAMS AND ACTIVITIES ROOSEVELT UNIVERSITY 430 S MICHIGAN AVENUE CHICAGO IL 60605 362167854 170(B)(1)(A)(II) 205150 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 WARRICK CARTER 0 341205 0 0 0 0 0 164967 0 113277 0 619449 0 0 CHARLES MIDDLETON 0 495897 0 0 0 0 0 89400 0 17206 0 602503 0 0 DENNIS HOLTSCHNEIDER 0 729393 0 0 0 0 0 19600 0 67615 0 816608 0 0 MIROSLAVA MEIJA KRUG 0 209341 0 0 0 0 0 25992 0 19083 0 254416 0 0 ALICIA BERG 0 201892 0 0 0 0 0 13840 0 23857 0 239589 0 0 ROBERT KOZOMAN 0 443941 0 0 0 0 0 19600 0 44128 0 507669 0 0 JEFFREY BETHKE 0 240281 0 0 0 0 0 19518 0 20178 0 279977 0 0 ILLINOIS FINANCE AUTHORITY 861091967 45202QBE2 2006-10-20 123570960 STUDENT HOUSING REVENUE REFUNDING BONDS (REFUNDED BONDS ISSUED MAY 30, 2002) 0 0 0 ILLINOIS FINANCE AUTHORITY 861091967 45202QAR4 2007-02-01 42337296 STUDENT HOUSING REVENUE REFUNDING BONDS(REFUNDED BONDS ISSUED MAY 30, 2002) 0 0 0 123570960 121510012 2060948 2006 0 1 1 1 42337296 41492344 844952 2007 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 FORM 990, LINE B: AMENDED RETURN EXPLANATION THE 2010 FORM 990 IS BEING AMENDED TO REPORT A CHANGE TO THE COMPENSATION DETAIL REPORTED ON SCHEDULE J, PART II. ON THE ORIGINALLY FILED RETURN, "RETIREMENT AND OTHER DEFERRED COMPENSATION" AND "NONTAXABLE BENEFITS" WAS INADVERTENTLY REPORTED IN ROW (I) FOR EACH LISTED BOARD MEMBER. NONE OF THE BOARD MEMBERS RECEIVE ANY COMPENSATION DIRECTLY FROM THE EDUCATIONAL ADVANCEMENT FUND, INC. ALL COMPENSATION IS RECEIVED FROM RELATED ORGANIZATIONS. THEREFORE, THE AMENDED RETURN HAS BEEN ADJUSTED TO PROPERLY REFLECT THE COMPENSATION ON ROW (II) AS "RETIREMENT AND OTHER DEFERRED COMPENSATION" AND "NONTAXABLE BENEFITS" PAID FROM RELATED ORGANIZATIONS. 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 11564091 CASH TRANSFERS DEPAUL UNIVERSITY K 3260370 CASH TRANSFERS ROOSEVELT UNIVERSITY K 6266499 CASH TRANSFERS COLUMBIA COLLEGE CHICAGO Q 449424 CASH DISTRIBUTIONS DEPAUL UNIVERSITY Q 345426 CASH DISTRIBUTIONS ROOSEVELT UNIVERSITY Q 205150 CASH DISTRIBUTIONS