2012-03-01T10:45:23-06:00 2011-06-30 CROWE HORWATH LLP 10 West Broad Street Suite 1700 Columbus OH 432153713 990 2010-07-01 237019799 WRIGHT STATE UNIVERSITY FOUNDATION INC WRIG 9377752869 3640 Colonel Glenn Highway Dayton OH 454350001 ROBERT T BATSON 2012-02-06 true 6144690001 2010 2016-02-24 21:20:13Z REBECCA S COLE 3640 Colonel Glenn Highway Dayton OH 454350001 15487187 false X HTTP://WWW.WRIGHT.EDU/GIVING-ALUMNI/WRIGHT-STATE-FOUNDATION X 1966 OH TO SECURE, MANAGE, AND DISTRIBUTE PRIVATE SUPPORT TO ENHANCE THE GROWTH AND DEVELOPMENT OF WRIGHT STATE UNIVERSITY SUCH THAT IT CAN PROVIDE QUALITY EDUCATIONAL EXPERIENCES FOR STUDENTS, CONDUCT SCHOLARLY RESEARCH, AND SERVICE THE COMMUNITY. 27 27 4 100 0 0 11826055 4796110 0 0 2249760 -898667 176349 206681 14252164 4104124 10635734 6389853 0 0 564301 257459 0 0 636520 822057 1228850 12022092 7876162 2230072 -3772038 97433960 111193152 2444691 2431861 94989269 108761291 X TO SECURE, MANAGE, AND DISTRIBUTE PRIVATE SUPPORT TO ENHANCE THE GROWTH AND DEVELOPMENT OF WRIGHT STATE UNIVERSITY SUCH THAT IT CAN PROVIDE QUALITY EDUCATIONAL EXPERIENCES FOR STUDENTS, CONDUCT SCHOLARLY RESEARCH, AND SERVICE THE COMMUNITY. false 2935500 2935500 0 SUPPORT FOR VARIOUS ACADEMIC AND SUPPORT FUNCTIONS AT WRIGHT STATE UNIVERSITY ALLOWS ADMINISTRATORS FLEXIBILITY TO DELIVER QUALITY PROGRAMS TO THEIR CONSTITUENCIES. THESE CONTRIBUTIONS SUPPLEMENT THE UNIVERSITY'S BUDGET ALLOCATION AND ALLOW PROGRAM MANAGERS TO OFFER UNIQUE AND CREATIVE LEARNING OPPORTUNITIES FOR STUDENTS. DURING THE CURRENT YEAR, 57% OF EXPENSES IN THIS AREA RELATED TO PARTIAL OR COMPLETE SUPPORT OF PROGRAM PERSONNEL THAT OTHERWISE WOULD NOT HAVE BEEN SUPPORTED BY THE UNIVERSITY'S OPERATING BUDGET. PROCEEDS IN THIS AREA ARE ALSO USED TO CONSTRUCT, RENOVATE AND REHABILITATE UNIVERSITY FACILITIES. 2407837 2407837 0 STUDENTS AT WRIGHT STATE UNIVERSITY RECEIVE A QUALITY EDUCATION THAT IS PAID PARTLY BY TUITION AND PARTLY BY STATE SUBSIDY. THE LATTER REVENUE SOURCE HAS DECLINED IN RECENT YEARS THEREBY MAKING IT MORE DIFFICULT TO FINANCE A COLLEGE EDUCATION. ALTHOUGH WRIGHT STATE REMAINS ONE OF THE MOST AFFORDABLE PUBLIC INSTITUTIONS IN OHIO, THE FOUNDATION SEEKS TO OFFSET THE LOSS OF STATE TUITION SUBSIDIES BY RAISING PRIVATE CONTRIBUTIONS IN SUPPORT OF STUDENT TUITION PAYMENTS. DISTRIBUTIONS OF STUDENT FINANCIAL AID TOTALED $2,407,837 DURING THE YEAR. 546935 546935 0 ATHLETIC PROGRAMS $458,625 MISCELLANEOUS GRANTS $88,310 499581 499581 0 SCHOLARLY RESEARCH IS A CORE PART OF WRIGHT STATE UNIVERSITY'S MISSION. THE FOUNDATION SEEKS TO ENHANCE FUNDING FOR THESE ACTIVITIES BY RAISING PRIVATE SUPPORT THAT PROVIDES PERSONNEL AND OPERATING COST COVERAGE FOR VARIOUS PROJECTS. MANY, ALTHOUGH NOT ALL, OF THE UNIVERSITY-SUPPORTED RESEARCH PROGRAMS ARE IN THE FIELD OF MEDICINE. 499581 499581 0 6389853 true true false false false false false true true false true false false true true true false false false true false false false false false false true true true false false false false false false false false true true false false false true false false false false true 9 0 true 4 true false false false false false true true false false false false X 27 27 false false false false false false false true true false false true true true true true true false false false X X Robert T Batson CFP(r) 9377752869 3640 Colonel Glenn Highway Dayton OH 454350001 X X MICHELLE SHAW 10 X 0 45524 26318 BRYAN K ROWLAND 10 X 0 250266 51333 ROBERT T BATSON 10 X 0 104938 33492 DELORES WHITCRAFT 1 X 0 0 0 JOHN WARNER 1 X 0 0 0 CHRISTINE WALLACE 1 X X 0 0 0 ROBERT J SUTTMAN II 1 X 0 0 0 HOWARD STEVENS 1 X 0 0 0 BENJAMIN SCHUSTER MD 1 X X 0 0 0 DAVID ROER MD 1 X 0 0 0 WILLIAM H POHLMAN 1 X X 0 0 0 RANDY E PHILLIPS 1 X 0 0 0 VICKI PEGG 1 X 0 0 0 DAVID MCSEMEK 1 X 0 0 0 JOHN LYMAN MD 1 X 0 0 0 JEFFREY LIGHTNER 1 X 0 0 0 BRUCE KLINE 1 X 0 0 0 NINA JOSHI 1 X 0 0 0 JONAS GRUENBERG 1 X 0 0 0 THERESA GASPER 1 X 0 0 0 CHISTOPHER DUVAL 1 X 0 0 0 LORNA DAWES 1 X 0 0 0 BRIAN COOPER 1 X 0 0 0 RONALD CLOYD 1 X 0 0 0 MARIA CASTLEMAN 1 X 0 0 0 MARSHA BONHART 1 X 0 0 0 ERIC BIGLER 1 X 0 0 0 DONNA BACK 1 X 0 0 0 RONALD D AMOS 1 X X 0 0 0 REBECCA COLE 10 X 0 164877 32515 ELOISE BRONER 1 X 0 0 0 0 565605 143658 0 false true false SEI 1 FREEDOM VALLEY DRIVE OAKS PA 19456 INVESTMENT MANAGEMENT 243026 1 4796110 538813 4796110 0 0 0 0 0 3018683 3018683 0 0 0 0 0 7465713 11383063 -3917350 0 -3917350 -3917350 0 0 0 OTHER INCOME 106344 106344 INSURANCE PROCEEDS 100337 100337 0 0 0 0 206681 4104124 0 0 -691986 4005357 4005357 2384496 2384496 0 0 0 0 187612 187612 0 69847 6501 63346 0 0 54516 54516 23312 23312 0 0 510091 510091 337700 241925 95775 0 82894 196 82698 129533 6763 122770 0 0 46210 3994 42216 0 0 0 0 0 0 MISCELLANEOUS 43131 1028 42103 DEBT SERVICE 1463 1463 0 0 0 0 7876162 6389853 849789 636520 0 1367680 2598643 771495 2756589 7416300 5167500 0 0 3333 0 0 0 0 69263657 77280381 16666908 20835375 0 0 1947920 2551331 97433960 111193152 214393 190986 1096633 1277662 200000 933665 963213 2444691 2431861 X 1799353 5107510 58594379 68175298 34595537 35478483 94989269 108761291 97433960 111193152 X -3772038 17544060 X false true true X false X 8756724 8215279 9890021 11826055 4796110 43484189 0 0 8756724 8215279 9890021 11826055 4796110 43484189 7390730 36093459 3307068 2409325 2738163 3603091 2508592 14566239 0 17298 0 60843 176349 206681 461171 58511599 0.61690 0.60019 X OTHER INCOME, FORM 990, SCHEDULE A, PART II, SECTION B, LINE 10, 2006 $17,298 2007 NONE 2008 $60,843 2009 $176,349 2010 $206,681 TOTAL OTHER INCOME $461,171, RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 false true 39348811 1645498 6931892 1886408 46039793 33209002 2850582 5978547 2689320 39348811 37504322 5341294 -8993698 642916 33209002 0.04710 0.95290 0.00000 false false 0 0 0 0 0 0 0 0 ALTERNATIVE ASSETS 19488041 F LIMITED PARTNERSHIPS 1347334 F 20835375 0 ANNUITIES PAYABLE 133000 DUE TO WRIGHT STATE UNIVERSITY 830213 963213 4104124 7876162 -3772038 17345741 198319 17544060 13772022 21138093 17345741 227120 17572861 3565232 510091 28801 538892 4104124 7366071 0 0 7366071 510091 0 510091 7876162 Explanation of escrow agreement Schedule D, Part IV, Line 2b WSU FOUNDATION HOLDS AND INVESTS ASSETS ON BEHALF OF THE WESTERN OHIO EDUCATION FOUNDATION (WOEF). WOEF IS THE EDUCATIONAL FOUNDATION THAT BENEFITS THE LAKE CAMPUS BRANCH OF WRIGHT STATE UNIVERSITY, LOCATED IN CELINA, OHIO. WOEF SHARES PROPORTIONATELY IN THE INVESTMENT EARNINGS AND LOSSES OF THE WSU FOUNDATION PORTFOLIO, INCLUDING FEES CHARGED BY PROFESSIONAL INVESTMENT MANAGERS. ASSETS DEPOSITED BY WOEF WITH THE WSU FOUNDATION MAY BE WITHDRAWN OR SUPPLEMENTED AT ANY TIME WITH LITTLE OR NO NOTICE REQUIRED. ASSETS ON DEPOSIT AT THE END OF THE FISCAL YEAR ARE INCLUDED IN THE "INVESTMENTS IN SECURITIES" LINE OF THE WSU FOUNDATION STATEMENT OF ACTIVITIES. THE RELATED LIABILITY IS LISTED AS "DEPOSITS HELD IN CUSTODY FOR OTHERS." Intended uses of endowment funds Schedule D, Part V, Line 4 ENDOWMENT FUNDS HAVE BEEN ESTABLISHED WITH THE FOUNDATION TO SUPPORT THREE MAJOR PROGRAM AREAS; ACADEMIC AND SUPPORT PROGRAMS, STUDENT FINANCIAL AID AND RESEARCH. SPECIFICALLY, ENDOWMENTS FUND PROGRAM OPERATIONS, STUDENT SCHOLARSHIPS AND AWARDS, DEPARTMENT CHAIR POSITIONS, PROFESSORSHIPS, STUDENT SUPPORT PROGRAMS AND INDIVIDUAL RESEARCH PROJECTS. FIN 48 (ASC 740) footnote Schedule D, Part X, Line 2 THE UNIVERSITY HAS BEEN APPROVED UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AS A NONPROFIT ORGANIZATION EXEMPT FROM FEDERAL TAXES ON ITS NORMAL ACTIVITIES. GAAP PRESCRIBES RECOGNITION THRESHOLDS AND MEASUREMENT ATTRIBUTES FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. A TAX POSITION IS RECOGNIZED AS A BENEFIT ONLY IF IT IS "MORE LIKELY THAN NOT" THAT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE "MORE LIKELY THAN NOT" TEST, NO TAX BENEFIT IS RECORDED. MANAGEMENT HAS CONCLUDED THAT THEY ARE UNAWARE OF ANY TAX BENEFITS OR LIABILITIES TO BE RECOGNIZED AT JUNE 30, 2011 OR 2010, RESPECTIVELY. THE FOUNDATION IS NO LONGER SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR YEARS BEFORE 2008. THE FOUNDATION DOES NOT HAVE ANY TAX BENEFITS RECORDED AT JUNE 30, 2011, AND DOES NOT EXPECT THAT POSITION TO SIGNIFICANTLY CHANGE IN THE NEXT YEAR. THE FOUNDATION WOULD RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO INCOME TAX MATTERS IN INCOME TAX EXPENSE, IF APPLICABLE, AND THERE WERE NO AMOUNTS ACCRUED FOR INTEREST AND PENALTIES AT JUNE 30, 2011 OR 2010. Other changes in net assets Schedule D, Part XI, Line 8 CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT - 227120; CHANGE IN VALUE OF CSV - -28801; Other revenues in audited financial statements not in form 990 Schedule D, Part XII, Line 2d CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT - 227120; Other revenues in form 990 not in audited financial statements Schedule D, Part XII, Line 4b CHANGE IN VALUE OF CSV - 28801; CENTRAL AMERICA AND THE CARIBBEAN PASSIVE INVESTMENTS 12365000 12365000 true false true false true false true WRIGHT STATE UNIVERSITY 3640 COLONEL GLENN HIGHWAY DAYTON OH 454350001 310732831 GOVT. ORG. 4005357 0 INSTITUTIONAL SUPPORT 1 0 SCHOLARSHIPS 983 2384496 0 Procedures for monitoring use of grant funds Schedule I, Part I, Line 2 ALL EXPENDITURES OF GRANT PROCEEDS FOR PROGRAM SUPPORT, RESEARCH, ATHLETICS AND MISCELLANEOUS GRANTS ARE SUBJECT TO APPROVAL OF THE FOUNDATION'S ASSISTANT TREASURER OR HIS/HER DESIGNEE. PRIOR TO APPROVAL, THE ASSISTANT TREASURER REVIEWS THE PURPOSE OF THE EXPENDITURE IN CONJUNCTION WITH DONOR RESTRICTIONS AS SPECIFIED IN GIFT AGREEMENTS AND OTHER RELATED GIFT DOCUMENTS. WITH RESPECT TO SCHOLARSHIP AWARDS, GRANT PROCEEDS ARE RELEASED TO THE FINANCIAL AID OFFICE OF WRIGHT STATE UNIVERSITY, A RELATED TAX-EXEMPT ORGANIZATION, WHICH CREDITS INDIVIDUAL STUDENT ACCOUNTS IN THE AMOUNT OF SCHOLARSHIPS AWARDED. false false false false false false false false false BRYAN K ROWLAND 0 224183 0 0 0 26083 0 29531 0 21802 0 301599 0 0 REBECCA COLE 0 162757 0 0 0 2120 0 23218 0 9297 0 197392 0 0 BRYAN K. ROWLAND'S COMPENSATION SCHEDULE J, PART II, LINE 1 BRYAN K. ROWLAND HELD THE POSITION OF OFFICER OF THE FOUNDATION FROM JULY 2010 THROUGH SEPTEMBER OF 2010. IN ACCORDANCE WITH THE FORM INSTRUCTIONS WE ARE TO REPORT HIS REPORTABLE COMPENSATION BASED OFF OF THE CALENDAR YEAR 2010. THEREFORE, THE COMPENSATION BEING DISCLOSED IN SCHEDULE J, PART II, LINE 1 IS FOR THE CALENDAR YEAR 2010 AND NOT FOR HIS THREE MONTHS THAT HE SERVED AS OFFICER OF THE FOUNDATION. X 14 538813 MARKET VALUE 0 false true false Description of other program services Form 990, Part III, Line 4d SCHOLARLY RESEARCH IS A CORE PART OF WRIGHT STATE UNIVERSITY'S MISSION. THE FOUNDATION SEEKS TO ENHANCE FUNDING FOR THESE ACTIVITIES BY RAISING PRIVATE SUPPORT THAT PROVIDES PERSONNEL AND OPERATING COST COVERAGE FOR VARIOUS PROJECTS. MANY, ALTHOUGH NOT ALL, OF THE UNIVERSITY-SUPPORTED RESEARCH PROGRAMS ARE IN THE FIELD OF MEDICINE. Review of form 990 by governing body Form 990, Part VI, Section B, Line 11b PRIOR TO FILING WITH THE IRS, THE FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE. THE FULL DOCUMENT IS PRESENTED TO THE COMMITTEE AND STAFF PROVIDES AN OVERVIEW OF THE INFORMATION CONTAINED IN THE REPORT. ONCE THE AUDIT COMMITTEE IS SATISFIED THAT THE FORM IS ACCURATELY COMPLETED, IT APPROVES THE FORM FOR FILING. PRIOR TO FILING, THE FINAL VERSION OF THE FORM 990 IS DISTRIBUTED TO EACH MEMBER OF THE FOUNDATION BOARD. Conflict of interest policy Form 990, Part VI, Section B, Line 12c TRUSTEES OF WRIGHT STATE UNIVERSITY FOUNDATION, INC. (THE FOUNDATION) ARE ANNUALLY REQUIRED TO SIGN A CONFLICT OF INTEREST POLICY STATEMENT AND TO DISCLOSE ANY POTENTIAL CONFLICTS THAT MAY EXIST. THESE DISCLOSURES ARE REVIEWED BY THE FOUNDATION'S ASSISTANT TREASURER. THIS POSITION IS RESPONSIBLE FOR REVIEWING AND APPROVING ALL OPERATING EXPENDITURES AUTHORIZED BY THE ANNUAL FOUNDATION BUDGET. SUCH AUTHORIZATIONS ARE MADE IN LIGHT OF THE ASSISTANT TREASURER'S KNOWLEDGE OF CONFLICT DISCLOSURES. TRUSTEES ARE EXPECTED TO ABSTAIN FROM SELF-DEALING AND ANY VOTES THAT MAY BE BIASED BY PERSONAL CONFLICTS OF INTEREST. THE ANNUAL DISCLOSURE PROCEDURE HELPS THEM IDENTIFY AND AVOID SUCH CONDITIONS. Public Disclosure Form 990, Part VI, Section C, Line 19 IN GENERAL, DOCUMENTS MAINTAINED BY WRIGHT STATE UNIVERSITY FOUNDATION, INC. (THE FOUNDATION) ARE SUBJECT TO THE STATE OF OHIO'S PUBLIC RECORDS LAW, WHICH GENERALLY HOLDS THAT ALL REQUESTS FOR DOCUMENTS WILL BE FULFILLED. THE FOUNDATION'S ANNUAL FINANCIAL STATEMENTS AND SEVERAL GOVERNING DOCUMENTS ARE ALSO PUBLISHED ON ITS WEB SITE. PROCESS USED TO ESTABLISH COMPENSATION OF OFFICERS/KEY EMPLOYEES/TOP MANAGEMENT OFFICIALS FORM 990, PART VI, SECTION B, LINE 15A AND LINE 15B THE COMPENSATION OF THE OFFICERS OF THE ORGANIZATION IS DETERMINED AT THE WRIGHT STATE UNIVERSITY LEVEL AND NOT AT THE ORGANIZATION. THE ORGANIZATION DOES NOT HAVE POLICIES AND PROCEDURES OF ITS OWN FOR COMPENSATION. THEREFORE, QUESTIONS 15A AND 15B HAVE BEEN ANSWERED AS NO IN ACCORDANCE WITH THE FORM INSTRUCTIONS. Average hours worked per week for related organization Form 990, Part VII, Section A, Column B MICHELLE SHAW - 30 HOURS PER WEEK TO WRIGHT STATE UNIVERSITY BRYAN K. ROWLAND - 30 HOURS PER WEEK TO WRIGHT STATE UNIVERSITY ROBERT T. BATSON - 30 HOURS PER WEEK TO WRIGHT STATE UNIVERSITY NINA JOSHI - 1 HOUR PER WEEK TO WRIGHT STATE UNIVERSITY REBECCA COLE - 30 HOURS PER WEEK TO WRIGHT STATE UNIVERSITY ELOISE BRONER - 1 HOUR PER WEEK TO WRIGHT STATE UNIVERSITY Other changes in net assets or fund balances Form 990, Part XI, Line 5 NET UNREALIZED GAINS (LOSSES) ON INVESTMENTS - 17345741; CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT - 227120; CHANGE IN VALUE OF CSV - -28801; WRIGHT STATE UNIVERSITY 3640 COLONEL GLENN HIGHWAY DAYTON OH 454350001 310732831 EDUCATION OH 501(C)(1) N/A NA false true false true false false false false false false true true true true true false false false