2012-03-21T18:09:58-05:00 2011-06-30 SALTMARSH CLEAVELAND & GUND 900 NORTH 12TH AVENUE PENSACOLA FL 32501 990 2010-07-01 596166292 UNIVERSITY OF WEST FLORIDA FOUNDATION INC UNIV 8504743118 11000 UNIVERSITY PKWY BLDG 12 PENSACOLA FL 325145732 SHERI POPE 8504742487 2012-03-14 1 MOLLY MURPHY CPA 8504358300 2012-03-14 2010 2016-02-24 21:20:13Z SHERI POPE 11000 UNIVERSITY PKWY BLDG 12 PENSACOLA FL 325145732 31238697 0 X WWW.UWF.EDU/FOUNDATION X 1965 FL SEE SCHEDULE O. 27 25 0 27 -5278 -5278 2939498 2916218 7835364 9143076 2121285 2847591 24460 27400 12920607 14934285 920001 956273 0 0 2536569 2601805 12997 44471 186669 8076234 12099459 11545801 15702008 1374806 -767723 117644314 136083409 47415003 61238526 70229311 74844883 X SOLICITING, RECEIVING, AND ADMINISTERING GIFTS AND BEQUESTS OF PROPERTY AND FUNDS FOR SCIENTIFIC, EDUCATIONAL, AND CHARITABLE PURPOSES ALL FOR THE ADVANCEMENT OF THE UNIVERSITY OF WEST FLORIDA (UWF). TO PROMOTE AND SUPPORT EDUCATION AND EDUCATION FACILITIES, INCLUDING HOUSING AT UWF. 0 0 8734347 9307554 STUDENT HOUSING PROGRAM - THE UWF DEPARTMENT OF HOUSING AND RESIDENCE LIFE PROVIDES HOUSING FOR APPROXIMATELY 15.5%, I.E., OVER 1,865 STUDENTS AND 58 STUDENT STAFF, OF THE UNIVERSITY'S STUDENT BODY. OCCUPANCY OF DORMS IS CONSISTENTLY MAINTAINED AT 100%. IN ADDITION TO RESIDENTIAL SERVICES, HOUSING OFFERS OVER 2,000 EDUCATIONAL AND SOCIAL PROGRAMS DESIGNED TO ENHANCE THE STUDENTS' LEARNING ENVIRONMENT AS WELL AS ENRICH THE STUDENTS' COLLEGE EXPERIENCE. 783241 783241 STUDENT SCHOLARSHIP PROGRAM: THE UWF FOUNDATION AWARDED MORE THAN $1,142,593 IN SCHOLARSHIPS TO 962 UWF STUDENTS. THESE SCHOLARSHIPS HELPED TO ENSURE THOSE STUDENTS GAINED A HIGHER EDUCATION. ONE OF THE NEWER SCHOLARSHIPS PROMOTED DURING THE YEAR WAS THE FIRST GENERATION SCHOLARSHIP. THIS SCHOLARSHIP ENABLES STUDENTS, WHO ARE FIRST GENERATION IN THEIR FAMILY TO ATTEND COLLEGE, TO BE ABLE TO AFFORD COLLEGE TUITION. THE FOUNDATION RAISED AND AWARDED $212,000 OF FIRST GENERATION SCHOLARSHIPS DURING THE YEAR. 510563 EMINENT SCHOLARS AND PROFESSORSHIPS: THE UWF FOUNDATION HAD 2 EMINENT SCHOLARS AND 3 DISTINGUISHED PROFESSORS DURING THE FISCAL YEAR. THESE PROFESSORSHIPS HELPED TO ADVANCE THE EDUCATIONAL MISSION OF THE UNIVERSITY BY HAVING DISTINGUISHED AND SPECIALIZED PROFESSORS TEACH STUDENTS. 1852745 173032 60704 ALL OTHER PROGRAMS: THE UWF FOUNDATION HAS AGENCY ACCOUNTS WHICH SUPPORT THE MISSION OF CERTAIN DEPARTMENTS AND COLLEGES WITHIN THE UNIVERSITY. THESE ACCOUNTS PRIMARILY CONSIST OF DONATED FUNDS TO HELP SUPPORT FACULTY SALARIES, STUDENT SCHOLARSHIPS, LEARNING ENVIRONMENTS, PROFESSIONAL DEVELOPMENT, AND LECTURES. 1852745 173032 60704 11880896 1 1 0 1 0 0 1 0 1 1 1 0 0 1 1 1 1 0 0 1 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 54 0 1 0 1 1 1 CJ 0 0 0 1 1 0 0 0 1 0 X 27 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 AK AZ CA CO HI IL KY LA ME MD MA MI MN NH NJ NY OH OK OR SC UT WA WV WI DC X X SHERI POPE 8504743380 11000 UNIVERSITY PKWY BLDG 12 PENSACOLA FL 32514 MARNY GILLULY 0.20 X 0 0 0 SUSAN CRUZ 0.10 X 0 0 0 LAVERNE BAKER 0.30 X 0 0 0 DAVID CLEVELAND 0.40 X X 0 0 0 BRIAN HAUGEN 0.20 X 0 0 0 TIM HAAG 0.20 X 0 0 0 PATRICIA DENKLER 0.40 X X 0 0 0 THE HONORABLE CASEY RODGERS 0.10 X X 0 0 0 C RAY JONES 0.50 X X 0 0 0 JUDY BYRNE RILEY 0.10 X 0 0 0 DENNIS LARRY 0.00 X 0 0 0 RICHARD SANFILIPPO 0.10 X 0 0 0 BRETT SHAW 0.20 X X 0 0 0 WAYNE WILLIAMS 0.60 X 0 0 0 DR JUDITH A BENSE 0.20 X X 0 220680 54272 MICHELLE ANCHORS 0.20 X 0 0 0 RICK FOUNTAIN 0.00 X 0 0 0 JOHN MCGEE 0.00 X 0 0 0 RICHARD PETERSON 0.30 X 0 0 0 STEVE RIGGS 0.10 X 0 0 0 BRIAN WYER 0.20 X 0 0 0 JIM DONATELLI 0.10 X 0 0 0 JOHN HUTCHINSON 0.20 X 0 0 0 DEBBIE RITCHIE 0.10 X 0 0 0 SAVANNAH LEWIS 0.10 X 0 0 0 GORDON SPRAGUE 0.40 X 0 0 0 PAT WENTZ 0.10 X 0 109752 22811 CAROLINE HARTNETT 0.20 X 0 0 0 SUSAN STEPHENSON 8.00 X 0 102877 17183 SHERI POPE 40.00 X 0 55147 5756 JEFFREY DJERLEK 40.00 X 0 41973 10162 DR CHULA KING 0.00 X 0 203683 34937 DR HAROLD M WHITE JR 0.00 X 0 196454 26926 DR MORRIS L MARX 0.00 X 0 172164 30086 DR FRANK E RANELLI 0.00 X 0 174741 25244 DR JOHN F AZZARETTO 0.00 X 0 164259 29474 DR ROBERT FAHNESTOCK 0.00 X 0 184433 20666 DR JAMES HASSELBACK 0.00 X 0 163615 29073 0 1789778 306590 0 0 1 0 THE HASKELL COMPANY 111 RIVERSIDE AVENUE JACKSONVILLE FL 32202 CONSTRUCTION OF HERITAGE HALL 3207093 SOUTHWEST CONTRACT 17 PROFESSIONAL DRIVE TEMPLE TX 76504 FURNITURE FOR HERITAGE HALL 478566 JANI-KING 5528 N DAVIS HIGHWAY SUITE G PENSACOLA FL 32504 JANITORIAL SERVICES 395286 MORRETTE 1701 W GARDEN STREET PENSACOLA FL 32501 MINOR CONSTRUCTION 257314 4 2660 2913558 254171 2916218 RENTAL INCOME - HOUSIN 721310 8875238 8875238 RENTAL INCOME - OTHER 900099 220588 220588 47250 47250 9143076 1422733 211728 1211005 13502 13502 17723892 16299034 1424858 1424858 1424858 11100 2660 5378 5722 5722 MISC. REVENUE-RELATED- 900099 13454 13454 LOSS FROM PARTNERSHIP 523000 -5278 -5278 8176 14934285 9368258 -5278 2655087 956273 956273 2601805 2259062 305095 37648 11678 7030 4648 52500 23500 29000 55150 55150 44471 44471 318272 318272 456837 393391 60648 2798 316646 227736 51993 36917 356044 285676 24258 46110 1041925 1011716 30209 284870 219468 55087 10315 46570 31954 13168 1448 2401874 2401872 2 1938531 1936680 1851 237614 223269 14345 UNIVERSITY/STAFF SUPPOR 2811687 163260 2648427 REPAIR/MAINTENANCE/SUPP 878265 876314 1552 399 HOUSING RELATED EXPENSE 789629 789629 BAD DEBT EXPENSE 30269 33806 -3537 71098 40260 24275 6563 15702008 11880896 3634443 186669 4071182 2693854 18721871 26457350 1886640 1627661 389973 152040 100561 100581 56540115 14756469 37729709 41783646 37837283 47200305 12557346 13882921 4349749 2185051 117644314 136083409 3709086 2444117 43495392 58587664 210525 206745 47415003 61238526 X 10620588 10261095 15575649 19068050 44033074 45515738 70229311 74844883 117644314 136083409 X -767723 5383295 X 0 1 1 X 0 X 3456286 6340266 2346122 2939498 2916218 17998390 3456286 6340266 2346122 2939498 2916218 17998390 17998390 1489746 1552377 2348371 1156203 1211005 7757702 160637 80409 12500 217796 76392 547734 26303826 39221303 0.68420 0.66620 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 55150 55150 11825746 11880896 744045 186011 0 0 689830 711481 669858 744045 2815214 4222821 60150 60150 60225 55150 235675 172458 177870 167465 186011 703804 1055706 0 0 0 42891001 1379922 10633089 632011 1047701 931956 52292344 39183437 1169999 5032996 565859 1031677 897895 42891001 54255781 1313613 -12398267 1004494 1810024 1173172 39183437 0.01410 0.98590 0.00000 0 0 1454483 1454483 52321990 14612130 37709860 447557 144339 303218 2316085 2316085 41783646 COMMINGLED FUNDS 12433685 F PRIVATE EQUITY FUNDS 780612 F REAL ESTATE INVESTMENT TRUST 668624 F 13882921 SPLIT INTEREST AGREEMENTS 206745 206745 14934285 15702008 -767723 8855614 841971 -4314290 5383295 4615572 23791641 8855614 1742 8857356 14934285 0 14934285 20018040 4316032 4316032 15702008 0 15702008 PART III, LINE 4: DURING THE TAX YEAR, THE FOUNDATION TRANSFERRED THE MUSEUM ARTIFACTS TO THE WEST FLORIDA HISTORIC PRESERVATION, INC., A DIRECT SERVICE ORGANIZATION OF THE UNIVERSITY OF WEST FLORIDA, AND EXPENSED THE ARTIFACTS AS UNIVERSITY SUPPORT. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE INCOME FROM THE ENDOWMENT FUNDS IS TO BE USED FOR SCHOLARSHIPS, PROFESSORSHIPS, AND PROGRAMS OF THE UNIVERSITY OF WEST FLORIDA. ALL FUNDS ARE USED TO ADVANCE THE MISSION OF THE UNIVERSITY. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE FOUNDATION IS A NONPROFIT ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501 (C) (3) OF THE INTERNAL REVENUE CODE. HOWEVER, INCOME FROM CERTAIN INVESTMENT ACTIVITIES NOT DIRECTLY RELATED TO THE FOUNDATIONS TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. THE FOUNDATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. WITH A FEW EXCEPTIONS, THE FOUNDATION IS NO LONGER SUBJECT TO EXAMINATION BY TAX AUTHORITIES FOR YEARS BEGINNING BEFORE 2008. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN ESTIMATE -4,316,032. CHANGE IN S/I AGREEMENT 1,742. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN S/I AGREEMENT VALUE 1,742. PART XIII, LINE 2D - OTHER ADJUSTMENTS: LOSS FROM REFUNDED AND CANCELLED RESTRICTED CONTRIBUTIONS 4,316,032. EUROPE 0 0 PROGRAM SERVICES STUDY ABROAD 19900 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENT 12990000 EAST ASIA & THE PACIFIC 0 0 PROGRAM SERVICES STUDY ABROAD 7300 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 2500 0 0 0 0 0 0 13019700 0 13019700 1 0 0 1 1 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: GRANTS AND OTHER ASSISTANCE AWARDED TO INDIVIDUALS OUTSIDE THE UNITED STATES REPRESENTS STUDENT FINANCIAL AID. STUDENTS RECEIVING FINANCIAL AID ARE DETERMINED BY THE FOUNDATION GRANT COMMITTEE. THE COMMITTEE USES CRITERIA THAT ASSESSES ON THE BASE OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED, AND OTHER SIMILAR STANDARDS. THE OFFICE OF FINANCIAL AID AND THE FOUNDATION CONTINUOUSLY MONITOR STUDENT ELIGIBILITY FOR THESE AWARDS. OTHER INFORMATION SCHEDULE F, PART V PART I, LINE 3: THE ACCOUNTING METHOD USED IS THE ACCRUAL METHOD. X X X X X X 1 ELIZABETH G HAMBLETON 4669 MURPHY CANYON 100 SAN DIEGO CA 92123 UNDERWRITING 0 42945 11540 31405 CHARITABLE AUTO RESOURCES INC 1198 BAY COURT DESTIN FL 32541 VEHICLE DONATION 1 31075 11576 19499 ALEXANDER HAAS 3520 PIEDMON ROAD SUITE 300 ATLANTA GA 30305 FEASIBILITY STUDY 0 0 25000 0 EMOARCHITECTS INC 1126 THOMASVILLE ROAD TALLAHASSEE FL 32303 ATHLETIC FILM 0 0 29250 0 WILSON-BENNETT TECHNOLOGY 206 PLAZA BOULEVARD SUITE C CABOT AR 72023 PHONATHON 0 0 30000 0 74020 107366 50904 AK AR AZ CA CO CT HI KY LA ME MD MA MI MN NH NJ NY OH OK OR SC UT VA WV MS ND EXPLANATION OF FUNDRAISING PAYMENTS SCHEDULE G, PART I, LINE 2B, COLUMN (V) THE FOUNDATION CONTRACTS WITH CHARITABLE AUTO RESOURCES, INC. (CARS) (FEIN 20-0290042) TO OPERATE ITS VEHICLE DONATION PROGRAM. CARS ACTS AS THE FOUNDATION'S AUTHORIZED AGENT TO ACCEPT DONATED VEHICLES AND SELL THEM TO DEALERS, WHOLESALERS, OR AT AUCTIONS. UPON TRANSFER OF THE VEHICLE OWNERSHIP BY THE DONOR, CARS SENDS A DONATION RECEIPT TO THE DONOR. CARS PROVIDES PERTINENT DONOR AND VEHICLE INFORMATION TO THE FOUNDATION ON NO LESS THAN A MONTHLY BASIS. SUBSEQUENT TO THE SALE OF THE VEHICLE(S), CARS REMITS THE PROCEEDS, LESS COMMISSIONS, TO THE FOUNDATION. 1 SCHOLARSHIPS 962 956273 FAIR MARKET VALUE N/A PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: SCHOLARSHIPS AND GRANTS ARE AWARDED BY THE FOUNDATION THROUGH THE UNIVERSITY OF WEST FLORIDA (UWF). UWF ADHERES TO ANY APPLICABLE STATE AND FEDERAL GUIDELINES, AS WELL AS THE GUIDELINES FROM DONOR AGREEMENTS. THE FOUNDATION REIMBURSES UWF FOR AWARDS TO STUDENTS, THUS NO DIRECT PAYMENTS ARE MADE TO GRANT/SCHOLARSHIP RECIPIENTS FROM THE FOUNDATION. X 1 1 X 0 0 0 0 0 0 0 0 0 DR JUDITH A BENSE 0 220680 0 0 0 0 0 47334 0 6938 0 274952 0 272174 DR CHULA KING 0 203683 0 0 0 0 0 20393 0 14544 0 238620 0 245581 DR HAROLD M WHITE JR 0 196454 0 0 0 0 0 20096 0 6830 0 223380 0 231304 DR MORRIS L MARX 0 172164 0 0 0 0 0 18027 0 12059 0 202250 0 216797 DR FRANK E RANELLI 0 174741 0 0 0 0 0 14007 0 11237 0 199985 0 201899 DR JOHN F AZZARETTO 0 164259 0 0 0 0 0 17256 0 12218 0 193733 0 200679 DR ROBERT FAHNESTOCK 0 184433 0 0 0 0 0 15258 0 5408 0 205099 0 0 DR JAMES HASSELBACK 0 163615 0 0 0 0 0 16926 0 12147 0 192688 0 0 PART I, LINE 1A 1A. HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES - DR. JUDITH A. BENSE IS A MEMBER OF MCGUIRE'S IRISH POLITICIAN CLUB, A LOCAL RESTAURANT MEMBERSHIP GROUP. THE MEMBERSHIP IS USED FOR ENTERTAINING GUESTS OF THE UNIVERSITY OF WEST FLORIDA. ESCAMIBA COUNTY FLORIDA HOUSING FINANCE AUTHORITY - 2005 SERIES 593010066 296120BJ6 2005-12-01 18290000 TO REFUND THE 2002 DORMITORY REVENUE BONDS 0 0 0 ESCAMIBA COUNTY FLORIDA HOUSING FINANCE AUTHORITY - 2009 SERIES 593010066 NONE00000 2009-04-24 15000000 BANK LOAN TO FINANCE CONSTRUCTION OF STUDENT HOUSING 0 0 0 ESCAMIBA COUNTY FLORIDA HOUSING FINANCE AUTHORITY - 2010 SERIES 593010066 NONE00000 2010-12-30 11717000 REFUND THE 1998 DORMITORY REVENUE BONDS 0 0 0 ESCAMIBA COUNTY FLORIDA HOUSING FINANCE AUTHORITY - 2011 SERIES 593010066 296120CU0 2011-02-15 16189083 DORMITORY REVENUE BONDS FOR CONSTRUCTION OF STUDENT HOUSING 0 0 0 18370470 17725312 310158 335000 1 1 1 1 15000000 1000000 969221 136000 12894779 2010 0 0 1 1 11717000 11619336 97664 1 0 1 1 16189083 260523 316533 305318 1769943 0 0 1 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 49 31075 IMMEDIATE SALE OF ITEM X 7 155107 HIGH/LOW AVG @ D.O.G. X 20 0 X MUSIC EQUIPMENT 2 48095 APPRAISED VALUE X ATHLETIC EQUIPMENT 1 7433 REPLACEMENT COST X LAB EQUIPMENT 3 1000 REPLACEMENT COST X COMPUTER EQUIPMENT 24 11461 REPLACEMENT COST 1 0 1 1 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): THE NUMBER OF ITEMS RECEIVED, EXCEPT FOR LINE 9, "SECURITIES - PUBLICLY TRADED," ARE REPORTED IN COLUMN (B). LINE 9 REPORTS THE NUMBER OF CONTRIBUTIONS RECEIVED IN COLUMN (B). THIRD PARTY USE: PART I, LINE 32B: THE FOUNDATION CONTRACTS WITH CHARITABLE AUTO RESOURCES, INC. (CARS) (FEIN 20-0290042) TO OPERATE ITS VEHICLE DONATION PROGRAM. CARS ACTS AS THE FOUNDATION'S AUTHORIZED AGENT TO ACCEPT DONATED VEHICLES AND SELL THEM TO DEALERS, WHOLESALERS, OR AT AUCTIONS. UPON TRANSFER OF THE VEHICLE OWNERSHIP BY THE DONOR, CARS SENDS A DONATION RECEIPT TO THE DONOR. CARS PROVIDES PERTINENT DONOR AND VEHICLE INFORMATION TO THE FOUNDATION ON NO LESS THAN A MONTHLY BASIS. SUBSEQUENT TO THE SALE OF THE VEHICLE(S), CARS REMITS THE PROCEEDS, LESS COMMISSIONS, TO THE FOUNDATION. NON REPORTING OF REVENUE: PART I, LINE 33: REVENUE FOR THE FOLLOWING NONCASH CONTRIBUTIONS WAS NOT REPORTED DUE TO THE COST OF AN APPRAISAL OR VALUATION EXCEEDING THE BENEFIT OF SAME AND NO READY MARKET EXISTING FOR THE SALE OF THE ITEM: PART I, LINE 18 - COLLECTIBLES: ORIENTAL ARTWORK AND CLOTHING IN ADDITION TO THE ABOVE NONCASH CONTRIBUTIONS, DONATIONS OF MARKETABLE SECURITIES RECEIVED AS PAYMENT ON PLEDGES ARE NOT INCLUDED ON LINE 9, "SECURITIES - PUBLICLY TRADED". THESE ARE CREDITED AGAINST THE PLEDGE RECEIVABLE RATHER THAN CURRENT YEAR CONTRIBUTION INCOME. FORM 990, PART VI, SECTION B, LINE 11 THE DRAFT OF THE FORM 990 IS PRESENTED TO ALL BOARD MEMBERS PRIOR TO THE MARCH BOARD MEETING. THE BOARD SUGGESTS EDITS. AFTER THE EDITS ARE MADE, THE ENTIRE BOARD APPROVES THE DOCUMENT FOR FILING. THE APPROPRIATE SIGNATURES ARE OBTAINED AND THE FORM 990 IS MAILED. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, EACH BOARD MEMBER RECEIVES A CONFLICT OF INTEREST QUESTIONNAIRE. ALL BOARD MEMBERS ARE REQUIRED TO FILL OUT AND SIGN THE QUESTIONNAIRE. BOARD MEMBERS OR OFFICERS WHO HAVE DECLARED OR HAVE BEEN FOUND TO HAVE A CONFLICT OF INTEREST SHALL REFRAIN FROM CONSIDERATION OF PROPOSED TRANSACTIONS, UNLESS FOR SPECIAL REASONS THE BOARD OR ADMINISTRATION REQUESTS INFORMATION OR INTERPRETATION. PERSONS WITH CONFLICTS SHALL NOT VOTE, PARTICIPATE IN DISCUSSION OR BE PRESENT AT THE TIME OF THE VOTE. ANY PROPOSED TRANSACTION IN WHICH A CONFLICT OF INTEREST HAS BEEN DECLARED OR FOUND TO EXIST MUST BE APPROVED BY A MAJORITY OF THE DISINTERESTED MEMBERS OF THE BOARD OR THE APPROPRIATE COMMITTEE OF THE BOARD AFTER DISCLOSURE OF THE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE UNIVERSITY OF WEST FLORIDA'S BOARD OF TRUSTEES DETERMINES AND APPROVES ALL COMPENSATION. THE DETERMINATION INCLUDES CONSIDERING COMPENSATION RELATIVE TO THE MARKET LEVEL FOR THE JOB FAMILY. CONSIDERATION MAY BE GIVEN TO SUBSTANTIAL, DIRECTLY RELATED EXPERIENCE AND COMPARABLE INTERNAL SALARIES, WHICH MAY INCLUDE FACTORS SUCH AS JOB PERFORMANCE AND LEVEL OF RESPONSIBILITY. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION MAKES THEIR GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC THROUGH THEIR WEBSITE AND UPON REQUEST. LARGE INCREASE TO GENERAL AND ADMINISTRATIVE EXPENSES: PART IX, LINE 24 A, COLUMN C DURING 2007, THE FOUNDATION ACCEPTED A NONCASH DONATION OF MUSEUM ARTIFACTS WITH AN APPRAISED VALUE OF APPROXIMATELY $2.6 MILLION. DURING 2011, THE FOUNDATION TRANSFERRED THE MUSEUM ARTIFACTS TO THE WEST FLORIDA HISTORIC PRESERVATION, INC., A DIRECT SUPPORT ORGANIZATION OF THE UNIVERSITY OF WEST FLORIDA, AND EXPENSED THE ARTIFACTS AS A GENERAL ADMINISTRATIVE EXPENSE OF UNIVERSITY SUPPORT. THIS TRANSACTION INFLATES THE NORMAL GENERAL AND ADMINISTRATIVE EXPENSES FOR THE YEAR ENDING 6/30/11. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 8,855,614. PRIOR PERIOD ADJUSTMENTS: 841,971. CHANGE IN ESTIMATE -4,316,032. CHANGE IN S/I AGREEMENT 1,742. TOTAL TO FORM 990, PART XI, LINE 5: 5,383,295. EXPLANTION FOR SIGNIFICANT CHANGES IN NET ASSETS FORM 990, PART XI, LINE 5, CHANGES IN NET ASSETS PRIOR PERIOD ADJUSTMENT: THE FINANCIAL STATEMENTS FOR 2010 HAVE BEEN RESTATED TO PROPERLY REFLECT PROPERTY AND EQUIPMENT AND EXPENSES RELATED TO HERITAGE HALL CAPITALIZED CONSTRUCTION INTEREST. THE EFFECT OF THE RESTATEMENT WAS TO DECREASE BOND INTEREST EXPENSES AND INCREASE PROPERTY AND EQUIPMENT BY $841,971, THUS INCREASING THE STUDENT HOUSING SYSTEM'S UNRESTRICTED NET ASSETS BY THE SAME AMOUNT. CHANGE IN ESTIMATE: CHANGE IN ESTIMATES REFLECTS DONOR REQUESTED REFUNDS FOR REVENUE RECORDED IN PRIOR YEARS. INFREQUENTLY, THE FOUNDATION MAY BE REQUIRED OR ASKED TO RETURN A CONTRIBUTION IF (A) IT IS UNABLE TO COMPLY WITH DONOR RESTRICTIONS OR THE DONOR HAS CHANGED HIS MIND, OR (B) THE NONPROFIT ORGANIZATION HAS RECEIVED A COURT ORDER REQUIRING IT TO RETURN THE CONTRIBUTION, AND (C) IN THE INFREQUENT CASE THAT A COURT ORDER IS RECEIVED REQUIRING THE RETURN OF CONTRIBUTIONS, THE REMAINING OUTSTANDING PLEDGES RECEIVED WILL BE CANCELLED. THE RETURN OF A RESTRICTED DONATION RECEIVED IN PRIOR YEARS IS RECORDED AS A LOSS IN THE RESTRICTED NET ASSET CLASS. UNIVERSITY OF WEST FLORIDA 11000 UNIVERSITY PARKWAY PENSACOLA FL 32514 592976783 HIGHER EDUCATION FL 115(1) N/A N/A 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 1 0 UNIVERSITY OF WEST FLORIDA K 186669 ACCRUAL ACCOUNTING UNIVERSITY OF WEST FLORIDA (INCLUDED IN TOTAL OF O) N 0 SEE BELOW UNIVERSITY OF WEST FLORIDA O 2558608 CHECKS CUT UNIVERSITY OF WEST FLORIDA Q 97579 PURCHASE PRICE