2012-11-12T14:19:08-06:00 2012-06-30 540565834 MITCHELL WIGGINS & COMPANY LLP 1802 BAYBERRY COURT SUITE 300 RICHMOND VI 23226 990 2011-07-01 541808901 VIRGINIA COMMONWEALTH UNIVERSITY SCHOOL OF ENGINEERING FOUNDATION VIRG 8048281475 601 WEST MAIN STREET ROOM 308 RICHMOND VA 232843068 R SCOTT RASH 8048281475 2012-11-01 1 M JAMES HARTSON JR CPA P00590214 8042826000 2011 2016-02-24 21:20:13Z R SCOTT RASH 601 WEST MAIN STREET RICHMOND VA 232843068 23298583 0 X WWW.VCUREALESTATE.ORG X 1995 VA TO SUPPORT THE EDUCATIONAL, SCIENTIFIC AND CHARITABLE ACTIVITIES OF VCU. 32 32 0 0 0 -92912 1834250 3962015 0 0 1191044 2864468 822015 1342913 3847309 8169396 2798536 3048464 0 0 0 0 0 0 0 2876907 2729992 5675443 5778456 -1828134 2390940 135472489 137648932 103715259 103595756 31757230 34053176 TO SUPPORT THE EDUCATIONAL, SCIENTIFIC AND CHARITABLE ACTIVITIES OF VIRGINIA COMMONWEALTH UNIVERSITY. 0 0 5778456 14011 SUPPORT VIRGINIA COMMONWEALTH UNIVERSITY THROUGH THE MANAGEMENT OF THE SCHOOL OF ENGINEERING PROPERTY AND FUNDS. 5778456 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X 32 32 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 X ORGANIZATION 8048281475 601 WEST MAIN STREET ROOM 308 RICHMOND VA 232843068 X JOHN SHERMAN JR 1.00 X 0 0 0 WILLIAM H GOODWIN JR 1.00 X X 0 0 0 BRUCE C GOTTWALD 1.00 X X 0 0 0 PAUL F ROCHELEAU 1.00 X 0 0 0 WAYNE L HUNTER 1.00 X X 0 0 0 HONORABLE GEORGE ALLEN 1.00 X 0 0 0 BRADFORD A CROSBY 1.00 X X 0 0 0 MARQUERITE DAVIS 1.00 X 0 0 0 CLIFFORD A CUTCHINS IV 1.00 X 0 0 0 JOSEPH C FARRELL 1.00 X 0 0 0 ARTHUR D HURTADO 1.00 X X 0 0 0 JOHN A LUKE JR 1.00 X 0 0 0 RICHARD E POSEY 1.00 X 0 0 0 E BRYSON POWELL 1.00 X 0 0 0 HONORABLE ANNE G RHODES 1.00 X 0 0 0 HUGH A JOYCE 1.00 X 0 0 0 THOMAS J SEIFERT 1.00 X 0 0 0 RICHARD L SHARP 1.00 X 0 0 0 KIRK E SPITZER 1.00 X 0 0 0 MARK A STERNHEIMER SR 1.00 X 0 0 0 JAMES E UKROP 1.00 X 0 0 0 CHARLES A WILLIAMSON 1.00 X 0 0 0 ROBERT W WOLTZ JR 1.00 X 0 0 0 C KENNETH WRIGHT 1.00 X 0 0 0 CHRISTOPHER R JONES 1.00 X 0 0 0 GARY RUTH 1.00 X 0 0 0 MARY DOSWELL 1.00 X 0 0 0 BILL LAMP 1.00 X 0 0 0 GREG SITKIEWICZ 1.00 X 0 0 0 MICHAEL RAO 1.00 X 0 0 0 J CHARLES JENNETT 1.00 X 0 0 0 R SCOTT RASH 1.00 X 0 0 0 0 0 0 0 0 0 0 0 3962015 2809473 3962015 9513 9513 3178690 2354808 823882 823882 823882 15629334 12774379 2854955 2854955 2854955 INCOME FROM PASSTHROUG 900099 505020 505020 MISCELLANEOUS 900099 14011 14011 519031 8169396 14011 0 4193370 3048464 3048464 21500 21500 6213 6213 16242 16242 5536 5536 6915 6915 2346605 2346605 LIFE INSURANCE EXPENSE 161506 161506 OTHER EXPENSES 159835 159835 BAD DEBTS 5640 5640 5778456 5778456 0 0 1504729 1056074 3301532 8136279 454590 483423 15757 72110341 18544643 55862288 53565698 68304497 70896525 6029096 3510933 135472489 137648932 70568833 72027900 33146426 31567856 103715259 103595756 X 16335350 17870758 3417915 3910882 12003965 12271536 31757230 34053176 135472489 137648932 X 2390940 -94994 X X 0 1 1 X 0 X 8216889 4731909 3086912 1834250 3962015 21831975 8216889 4731909 3086912 1834250 3962015 21831975 6141214 15690761 2797220 3156396 3176226 3183684 3188203 15501729 4878 3278 14011 22167 37355871 0.42000 0.44510 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14984741 146129 1553401 776872 15907399 12208956 610895 2488117 323227 14984741 11179247 1278931 163437 412659 12208956 12596571 762703 -2124152 54675 1200 11179247 1.00000 0 0 3112659 3112659 68997682 18544643 50453039 53565698 CASH SURRENDER VALUE OF LIFE INSURANCE 1554183 F BARLOW PARTNERS FUNDAMENTAL MANAGERS LP FUND 6004464 F PRIVATE ADVISORS SMALL COMPANY FUND 927568 F BLUERIDGE OFFSHORE LP FUND 16928566 F TIGER GLOBAL LTD FUND 21114733 F VALIANT CAPITAL PARTNERS FUND 14612464 F LONG OAR GLOBAL OFFSHORE FUND 4660472 F EWF PARTNERS II LLC FUND 5094075 F 70896525 8169396 5778456 2390940 4399052 -4494046 -94994 2295946 14418236 4399052 2354808 6753860 7664376 505020 505020 8169396 12122290 6343834 6343834 5778456 0 5778456 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE VARIOUS ENDOWMENTS WERE ESTABLISHED TO SUPPORT THE FOUNDATION AND ITS MISSION. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE FOUNDATION FOLLOWS GENERALLY ACCEPTED ACCOUNTING PRINCIPLES REGARDING "ACCOUNTING FOR UNCERTAIN TAX POSITIONS" THAT PROVIDES DETAILED GUIDANCE FOR FINANCIAL STATEMENT RECOGNITION, MEASUREMENT, AND DISCLOSURE OF UNCERTAIN TAX POSITIONS RECOGNIZED IN THE FOUNDATION'S FINANCIAL STATEMENTS. IT REQUIRES AN ENTITY TO RECOGNIZE THE FINANCIAL STATEMENT IMPACT OF A TAX POSITION WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL NOT BE SUSTAINED UPON EXAMINATION. THE ADOPTION OF THIS STANDARD HAD NO MATERIAL EFFECT ON THE FOUNDATION'S FINANCIAL POSITION, RESULTS OF OPERATIONS, OR CASH FLOW. THE TAX YEARS OF 2008 TO 2011 REMAIN SUBJECT TO EXAMINATION BY THE TAXING AUTHORITIES. THE FOUNDATION INCLUDES PENALTIES AND INTEREST ASSESSED BY INCOME TAXING AUTHORITIES IN OPERATING EXPENSES. THE ORGANIZATION DID NOT HAVE PENALTIES AND INTEREST EXPENSES FOR THE YEAR ENDED JUNE 30, 2012. PART XI, LINE 8 - OTHER ADJUSTMENTS: UNREALIZED LOSS ON INTEREST RATE SWAP AGREEMENT -3,989,026. BOOK/TAX DIFFERENCE - INCOME FROM PASSTHROUGH ENTITY -505,020. TOTAL TO SCHEDULE D, PART XI, LINE 8: -4,494,046. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES LINE 6B INCL. IN EXPENSES IN FINANCIAL STMT 2,354,808. PART XII, LINE 4B - OTHER ADJUSTMENTS: INCOME FROM PASSTHROUGH ENTITIES 505,020. PART XIII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES NETTED AGAINST RENTAL INCOME IN RETURN 2,354,808. UNREALIZED LOSS ON INTEREST RATE SWAP 3,989,026. 0 VIRGINIA COMMONWEALTH UNIVERSITY 912 W FRANKLIN STREET POST OFFICE BOX 843035 RICHMOND VA 232843035 546001758 115 1470640 1577824 PRESENT VALUE ADJUSTMENT FOR ACCRUED CONTRIBUTION TO VCU FOR FUTURE RENT ASSISTANCE IS PROVIDED IN ORDER TO SUPPORT THE EDUCATIONAL, SCIENTIFIC AND CHARITABLE ACTIVITIES OF VIRGINIA COMMONWEALTH UNIVERSITY. X 2 9473 QUOTED MARKET VALUE X 2 2800000 FMV - APPRAISAL 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 NONE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION POSTS ITS CURRENT AUDITED FINANCIAL STATEMENT AND FORM 990 ON ITS WEB SITE, EACH YEAR. IT IS THE POLICY OF THE ORGANIZATION TO MAKE AVAILABLE COPIES OF FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND CONFICT OF INTEREST INFORMATION AND OTHER DOCUMENTS TO THE PUBLIC. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 4,399,052. UNREALIZED LOSS ON INTEREST RATE SWAP AGREEMENT -3,989,026. BOOK/TAX DIFFERENCE - INCOME FROM PASSTHROUGH ENTITY -505,020. TOTAL TO FORM 990, PART XI, LINE 5: -94,994. PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.