2012-08-15T17:43:37-05:00 2011-09-30 EIDE BAILLY LLP 5299 DTC BLVD STE 1000 GREENWOOD VILLAGE CO 801113329 990 2010-10-01 742215035 VAIL VALLEY FOUNDATION VAIL 9709491999 PO BOX 309 VAIL CO 81658 CEIL FOLZ 9709491999 2012-08-15 1 KIM C HUNWARDSEN CPA 3037705700 2012-08-15 2010 2016-02-24 21:20:13Z CEIL FOLZ PO BOX 309 VAIL CO 81658 23385884 0 X WWW.VVF.ORG X 1983 CO ENHANCING THE QUALITY OF LIFE IN VAIL VALLEY 40 39 155 1400 -50065 -51608 2196450 5627448 5302436 15797953 142094 152001 -121190 -128614 7519790 21448788 281084 580880 0 0 2281370 5172180 0 0 0 6926718 13191173 9489172 18944233 -1969382 2504555 15058354 19524374 7967098 11747138 7091256 7777236 X VAIL VALLEY FOUNDATION WAS CREATED FOR THE PURPOSE OF RAISING AND DISTRIBUTING FUNDS FOR CHARITABLE PURPOSES THROUGH THE ORGANIZATION OF EDUCATIONAL, CULTURAL, HISTORICAL, ARTISTIC AND ATHLETIC PERFORMANCES, EVENTS AND ATTRACTIONS FOR THE EDUCATION AND BENEFIT OF THE COMMUNITY. 1 0 4247519 254569 4283054 THE VILAR PERFORMING ARTS CENTER THEATRE OPERATIONS INCLUDE PROMOTING AND DEVELOPING AWARENESS AND APPRECIATION OF THE ARTS AND EDUCATING THE GENERAL PUBLIC ABOUT THE ARTS THROUGH PROGRAMS, ACTIVITIES, AND EVENTS TO FOSTER THE ARTS AND ARTS EDUCATION. THE THEATRE IS LOCATED WITHIN BEAVER CREEK RESORT PROVIDING YEAR-ROUND PERFORMANCES INCLUDING BROADWAY MUSICALS, ROCK CONCERTS, FAMILY SHOWS, COMEDY SHOWS, DANCE AND FILM FESTIVALS, JAZZ CONCERTS AND MORE. 2482465 1764009 VAIL VALLEY FOUNDATION HOSTS THE BIRDS OF PREY WORLD CUP INTERNATIONAL ALPINE SKI RACE ANNUALLY. THE RACE CONSISTS OF A WORLD CUP MEN'S SUPER COMBINED, WORLD CUP MEN'S DOWNHILL, AND A WORLD CUP MEN'S SLALOM COMPETITION. THIS ATHLETIC EVENT ATTRACTS PEOPLE FROM AROUND THE WORLD HELPING TO PROMOTE THE TOWN OF VAIL AND THE QUALITY OF LIFE IN THE VAIL VALLEY AREA. 1409342 1333730 THE FOUNDATION HOLDS THE TEVA MOUNTAIN GAMES ANNUALLY. THE EVENT IS THE COUNTRY'S LARGEST CELEBRATION OF MOUNTAIN SPORT, SOUL AND CULTURE AND OCCURS ANNUALLY DURING THE FIRST WEEKEND OF JUNE. PROFESSIONAL AND AMATEUR OUTDOOR ADVENTURE ATHLETES FROM AROUND THE WORLD CONVERGE UPON THE MOUNTAINS AND RIVERS OF VAIL TO COMPETE IN EIGHT SPORTS AND TWENTY-ONE DISCIPLINES. IN ADDITION TO THE ATHLETIC EVENTS, THE MOUNTAIN GAMES INCLUDE A MOUNTAIN PHOTOGRAPHY COMPETITION, INTERACTIVE EXHIBITION AND DEMO AREA, LIVE MUSIC, AND MOUNTAIN LIFESTYLE PARTIES. THE MAJORITY OF FUNDS RECEIVED FROM THIS EVENT ARE FROM CORPORATE SPONSORSHIP FEES. 8464715 326311 8417160 VAIL VALLEY FOUNDATION HOSTS AND SPONSORS A VARIETY OF OTHER EVENTS IN THE VAIL VALLEY AREA. THE EVENTS HELP TO SUPPORT A VARIETY OF EDUCATIONAL PROGRAMS, OTHER NONPROFIT ORGANIZATIONS, STRENGTHENING FAMILIES WITHIN THE COMMUNITY, AND KEEPING THE COMMUNITY VITAL AND EXCITING. 8464715 326311 8417160 16604041 1 1 0 0 1 0 0 0 1 1 1 0 0 1 1 0 1 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 0 0 0 1 1 1 0 0 1 143 0 1 155 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 X 40 39 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 1 0 CO X MARK FENSTERMACHER 9709491999 PO BOX 309 VAIL CO 81658 X CECILIA FOLZ 40.00 X X 316645 0 21360 HARRY FRAMPTON III 0.50 X X 0 0 0 JACK ECK 0.50 X 0 0 0 ERIC RESNICK 0.50 X 0 0 0 BETSY WIEGERS 0.50 X 0 0 0 ROB KATZ 0.50 X 0 0 0 KENT LOGAN 0.50 X 0 0 0 PETER FRECHETTE 0.50 X 0 0 0 J DOUGLAS RIPPETO 0.50 X 0 0 0 ANN SMEAD 0.50 X 0 0 0 OSCAR L TANG 0.50 X 0 0 0 CHRIS JARNOT 0.50 X 0 0 0 STEWART TURLEY 0.50 X 0 0 0 MARGIE GART 0.50 X 0 0 0 SHEIKA GRAMSHAMMER 0.50 X 0 0 0 ROBERT GARY 0.50 X 0 0 0 TIMOTHY FINCHEM 0.50 X 0 0 0 MICHAEL S SHANNON 0.50 X 0 0 0 STANLEY S SHUMAN 0.50 X 0 0 0 RODNEY E SLIFER 0.50 X 0 0 0 WILLIAM J HYBL 0.50 X 0 0 0 MIKE HERMAN 0.50 X 0 0 0 PETER W MAY 0.50 X 0 0 0 GEORGE N GILLETT JR 0.50 X 0 0 0 DONNA M GIORDANO 0.50 X 0 0 0 MARTHA HEAD 0.50 X 0 0 0 STEPHEN FRIEDMAN 0.50 X 0 0 0 KEN SCHANZER 0.50 X 0 0 0 JOHN GALVIN 0.50 X 0 0 0 JOHN GARNSEY 0.50 X 0 0 0 JACK R CROSBY 0.50 X 0 0 0 ANDREW P DALY 0.50 X 0 0 0 WILLIAM T ESREY 0.50 X 0 0 0 ROBERT HERNREICH 0.50 X 0 0 0 JUDITH BERKOWITZ 0.50 X 0 0 0 MARLENE BOLL 0.50 X 0 0 0 BJORN ERIK K BORGEN 0.50 X 0 0 0 AL HUBBARD 0.50 X 0 0 0 YVONNE JACOBS 0.50 X 0 0 0 BRIAN NOLAN 0.50 X 0 0 0 MARK FENSTERMACHER 40.00 X 126720 0 12194 MICHAEL IMHOF 40.00 X 205954 0 20160 JOHN DAIKEN 40.00 X 114483 0 10102 TED WENNINGER 40.00 X 130525 0 26560 KRIS SABEL 40.00 X 122094 0 24717 1016421 0 115093 6 0 1 0 0 364739 5262709 2669897 5627448 VILAR PERFORMING ARTS 711310 4283054 4283054 MEMBERSHIP REVENUE 900099 3051788 3051788 WORLD ALPINE SKI CHAMP 711310 1771067 1771067 BIRDS OF PREY 711310 1764009 1764009 VAIL INTERNATIONAL DAN 711310 1530219 1530219 3397816 3397816 15797953 152336 -50065 202401 1765968 1766303 -335 -335 -335 42179 364739 170793 -128614 -128614 21448788 15797953 -50065 73452 483184 483184 97696 97696 432148 345718 86430 3905444 3583890 321554 48267 31374 16893 499536 449582 49954 286785 258106 28679 45369 37330 8039 52738 25802 26936 807139 699216 107923 748300 706936 41364 916771 700227 216544 59430 22735 36695 212758 212758 615601 594212 21389 122938 107016 15922 243215 243215 694012 694012 134457 118043 16414 SOCIAL FUNCTIONS 4398355 4369140 29215 IN-KIND EXPENSES 2245771 2201871 43900 EDUCATION PROGRAM EXPEN 459011 459011 AWARDS & PRIZES 321310 321310 PHOTOGRAPHY/VIDEO 262830 262830 851168 516054 335114 18944233 16604041 2340192 0 249771 569711 3386268 994820 2109445 85691 8507 11053 55664 14347360 5976281 8881075 8371079 3505039 3873058 79053 1013827 682141 706526 15058354 19524374 250492 844937 619490 1275635 5795000 5700000 539854 762262 3926566 7967098 11747138 X 2327835 957579 3709219 5514338 1054202 1305319 7091256 7777236 15058354 19524374 X 2504555 -1818575 X 0 1 1 X 0 X 4017184 2286939 2376632 2196450 5627448 16504653 8185334 10686104 10278940 5307336 15840132 50297846 12202518 12973043 12655572 7503786 21467580 66802499 1660900 3067831 2773585 1675380 3906540 13084236 119486 1690236 1380982 4717703 7908407 1660900 3187317 4463821 3056362 8624243 20992643 45809856 229401 224837 116644 70934 152336 794152 229401 224837 116644 70934 152336 794152 255252 1155109 -129896 -56941 1223524 12687171 14352989 12642320 7517779 21619916 68820175 0.66560 0.68560 0.01150 0.01180 X SCHEDULE A, PART II, LINE 12, EXPLANATION OF OTHER INCOME: INVESTMENT INCOME ALLOCATED TO BENEFICAL INTEREST HELD FOR RELATED PARTY GENERAL & ADMINISTRATIVE PROGRAM REVENUE SCHEDULE A, PART IV, SUPPLEMENTAL INFORMATION: SCHEDULE A, PART II - IN 2010 THE ORGANIZATION FILED A SHORT YEAR RETURN FOR THE PERIOD JANUARY 1, 2010 THROUGH SEPTEMBER 30, 2010, EFFECTIVELY CHANGING THEIR ACCOUNTING PERIOD FROM A CALENDAR YEAR END TO A FISCAL YEAR ENDING SEPTEMBER 30TH. IN ORDER TO PROPERLY REFLECT THE ORGANIZATION'S PUBLIC CHARITY STATUS AND PUBLIC SUPPORT FOR THE PURPOSES OF SCHEDULE A, PART III (SUPPORT SCHEDULE FOR ORGANIZATION'S DESCRIBED IN SECTION 509(A)(2)) THE ORGANIZATION REPORTED THEIR ACTIVITY FOR CALENDAR YEARS 2007 THROUGH 2009, ACITIVITY FOR THE SHORT YEAR ENDING SEPTEMBER 30, 2010, AND ACTIVITY FOR FISCAL YEAR ENDING SEPTEMBER 30, 2011 FOR THE 5 YEAR PUBLIC SUPPORT COMPUTATION ON SCHEDULE A. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15 896000 245100 1787484 1 1 5051156 3509929 -60681 1668831 11916 6819657 5013573 224721 180000 7138 5051156 4589119 767336 604610 941905 5587 5013573 0.81000 0.19000 0 0 12246332 4199266 8047066 2101028 1777015 324013 8371079 OTHER INVESTMENTS 57763 F PARTNERSHIPS 945868 F HEDGE FUNDS 10196 F 1013827 PRESENT VALUE OF INTEREST RATE SWAP AGREEMENT 1797140 PRESENT VALUE OF FOREIGN CURRENCY SWAP AGREEMENT 2129426 3926566 21448788 18944233 2504555 129148 -4284038 2336315 -1818575 685980 22571034 129148 834990 -12685 951453 21619581 -170793 -170793 21448788 20264793 834990 740139 1575129 18689664 254569 254569 18944233 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: VAIL VALLEY FOUNDATION'S INTENDED USE OF THE PERMANENT ENDOWMENT FUND IS TO USE THE EARNINGS FROM THE INVESTED FUNDS FOR REPAIR AND MAINTENANCE EXPENSES ON THE FORD AMPHITHEATER. BOARD DESIGNATED ENDOWMENTS ARE USED TO FUND EDUCATIONAL PROGRAMS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE FOUNDATION UNDERGOES AN ANNUAL ANALYSIS OF ITS VARIOUS TAX POSITIONS, ASSESSING THE LIKELIHOOD OF THOSE POSITIONS BEING UPHELD UPON EXAMINATION WITH RELEVANT TAX AUTHORITIES, AS DEFINED BY ASC 740-10. MANAGEMENT DOES NOT BELIEVE THERE TO BE ANY UNCERTAIN TAX POSITIONS AND HAS THUS NOT RECORDED ANY RELATED PROVISION. THE FOUNDATION'S TAX RETURNS ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR A PERIOD OF THREE YEARS FROM THE DATE THEY ARE FILED. AS OF SEPTEMBER 30, 2011 THE TAX YEARS SUBJECT TO EXAMINATION INCLUDE THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2010 AS WELL AS THE YEARS ENDED DECEMBER 31, 2009 THROUGH 2008. PART XI, LINE 8 - OTHER ADJUSTMENTS: $2,336,315 - INVESTMENT INCOME/LOSS & EXPENSES REPORTED ON RELATED ORGANIZATION'S 990 PART XII, LINE 2B - OTHER ADJUSTMENTS: $58,156 - INVESTMENT INCOME REPORTED ON RELATED ENTITY'S TAX RETURN ($70,841) - UNREALIZED GAIN/LOSS REPORTED ON RELATED ENTITY'S TAX RETURN PART XII, LINE 4B - OTHER ADJUSTMENTS: ($170,793) - FUNDRAISING EXPENSES NETTED WITH INCOME ON 990 PART XIII, LINE 2B - OTHER ADJUSTMENTS: $170,793 - FUNDRAISING EXPENSES NETTED WITH INCOME ON 990 $563,027 - DEPRECIATION EXPENSE REPORTED ON RELATED ENTITY'S TAX RETURN $6,319 - EXPENSES REPORTED ON RELATED ENTITY'S TAX RETURN PART XIII - LINE 4B - OTHER ADJUSTMENTS: $254,569 - GRANT TO RELATED ORGANIZATION NOT REPORTED ON FINANCIALS BLACK DIAMOND BALL 338773 298024 40749 3311 49121 6931 47834 HOLD EM FOR HOPE 68145 66715 1430 6493 29720 6462 20921 406918 364739 42179 9804 78841 13393 68755 170793 -128614 1 BRAVO VAIL VALLEY MUSIC FESTIVAL PO BOX 2270 VAIL CO 81658 841074065 501(C)(3) 121000 GENERAL SUPPORT SKI & SNOWBOARD CLUB VAIL 598 VAIL VALLEY DRIVE VAIL CO 81657 846038792 501(C)(3) 20000 GENERAL SUPPORT THE FAMILY LEARNING CENTER 31626 HIGHWAY 6 EDWARDS CO 81632 841519047 501(C)(3) 10000 GENERAL SUPPORT VILAR CENTER FOR THE ARTS FOUNDATION PO BOX 3822 AVON CO 81620 841316133 501(C)(3) 254569 BOOK BUILDING IMPROVEMENTS, PURCHASE OF EQUIPMENT GENERAL SUPPORT 4 0 COLLEGE TUITION AND BOOKS ASSISTANCE. 26 75696 ATHLETE ASSISTANCE 15 22000 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: VAIL VALLEY FOUNDATION'S CHIEF FINANCIAL OFFICER PERFORMS A FOLLOW UP PHONE CALL WITH RECIPIENTS OF GRANTS. BASED ON THE EXTENSIVE RELATIONSHIPS THE FOUNDATION HOLDS WITH BUSINESSES AND THE COMMUNITY, THE FOUNDATION DEEMS TO HAVE ADEQUATELY FULFILLED THE MONITORING PROCEDURES FOR GRANTEES. X X 0 0 0 0 0 0 0 0 0 CECILIA FOLZ 316645 0 0 0 0 0 2500 0 17560 0 336705 0 0 0 MICHAEL IMHOF 205954 0 0 0 0 0 0 0 17560 0 223514 0 0 0 TED WENNINGER 130525 0 0 0 0 0 2500 0 17560 0 150585 0 0 0 COLORADO EDUCATIONAL AND CULTURAL FACILITIES AUTHORITY 840896727 19645RBF7 2007-08-08 5970000 REFINANCE EXISTING LOANS, RESTRUCTURE DEBT, & FUND RENOVATION OF THEATER. 0 0 0 285000 5990157 109936 1016579 4846148 20494 2011 0 0 0 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 1 MORGAN STANLEY CAPITAL SERVICES 30.000000000000 0 0 0 0 0 X 37 424126 MARKET VALUE ON GIFT DAT X LODGING 34 366600 COST OR SELLING PRICE OF DONATED PROPERTY X GIFTS/GOODS/HOSPITALITY 35 593588 COST OR SELLING PRICE OF DONATED PROPERTY X GIFT CERTIFICATES & CARDS 18 159536 COST OR SELLING PRICE OF DONATED PROPERTY X HOSPITALITY 19 102750 COST OR SELLING PRICE OF DONATED PROPERTY X TRANSPORTATION 4 137987 COST OR SELLING PRICE OF DONATED PROPERTY X SKI AND GOLF PRIVILEGES 1 885310 COST OR SELLING PRICE OF DONATED PROPERTY 0 0 1 0 NEW PROGRAM SERVICES FORM 990, PART III, LINE 2 EFFECTIVE OCTOBER 1, 2010 THE FOUNDATION IMPLEMENTED A RESTRICTING AGREEMENT WITH VILAR CENTER FOR THE ARTS FOUNDATION, A RELATED EXEMPT PUBLIC CHARITY, WHICH WILL COMBINE THE TWO ENTITIES WHEREBY ALL OPERATIONS AND ACTIVITY OF THE VILAR CENTER ARE TO BE REPORTED AS A PROGRAM OF THE FOUNDATION. THE VILAR CENTER PROGRAM INCLUDES PROMOTING AND DEVELOPING AWARENESS AND APPRECIATION OF THE ARTS AND EDUCATING THE GENERAL PUBLIC ABOUT ARTS THROUGH PROGRAMS, ACTIVITIES AND EVENTS. FORM 990, PART VI, SECTION A, LINE 8B VAIL VALLEY FOUNDATION, INC. DOES NOT HAVE ANY COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE FORM 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICER AND THE CONTROLLER BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE IS MADE UP OF BOARD MEMBERS FROM THE FOUNDATION. THIS COMMITTEE MEETS AT THE END OF THE YEAR TO DETERMINE COMPENSATION ADJUSTMENTS. PRIOR TO THE MEETING, THE CFO PROVIDES THE COMMITTEE WITH A PACKAGE SUMMARIZING COMPENSATION INFORMATION. AT THE MEETING THEY DETERMINE IF THEY WILL APPROVE ANY COMPENSATION ADJUSTMENT FOR THE CEO, OTHER OFFICERS, AND KEY EMPLOYEES FOR THE UPCOMING YEAR. THE COMPENSATION COMMITTEE ALSO COMPARES COMPENSATION LEVELS OF THE ABOVE POSITIONS TO THAT OF SIMILAR POSITIONS IN OTHER ORGANIZATIONS COMPARABLE TO VAIL VALLEY, IN ITS DETERMINATION OF COMPENSATION ADJUSTMENTS. FORM 990, PART VI, SECTION C, LINE 19 VAIL VALLEY FOUNDATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENT AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990,PART VII, LINE 1A THE BOARD MEMBERS, CFO AND PRESIDENT OF VAIL VALLEY FOUNDATION ALSO SERVE ON THE BOARD OF VILAR CENTER FOR THE ARTS FOUNDATION, A RELATED ORGANIZATION. THE BOARD MEMBERS DEVOTE, ON AVERAGE, A HALF HOUR PER WEEK AND THE CFO AND PRESIDENT DEVOTE, ON AVERAGE, TEN HOURS PER WEEK TO THE RELATED ORGANIZATION. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 129,148. PRIOR PERIOD ADJUSTMENTS: -4,284,038. INVESTMENT INCOME/LOSS & EXPENSES REPORTED ON RELATED ORGANIZATION'S 990 2,336,315. TOTAL TO FORM 990, PART XI, LINE 5: -1,818,575. VILAR CENTER FOR THE ARTS FOUNDATION PO BOX 309 VAIL CO 81658 841316133 PROMOTE AN APPRECIATION OF THE ARTS CO 501(C)(3) 509(A)(1) VAIL VALLEY FOUNDATION 1 0 1 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 VILAR CENTER FOR THE ARTS FOUNDATION B 254569 COST VILAR CENTER FOR THE ARTS FOUNDATION J VILAR CENTER FOR THE ARTS FOUNDATION N