2012-11-15T16:04:46-06:00 2012-06-30 202153727 SB & Company LLC 200 International Circle Suite 5500 Hunt Valley MD 21030 990 2011-07-01 520952758 Bowie State University Foundation Inc BOWI 3018604308 14000 Jericho Park Road Bowie MD 20715 Dr Richard Lucas 3018604308 2012-11-15 1 James E Marshall Jr P00841360 4105840060 2012-11-15 2011 2016-02-24 21:20:13Z Dr Richard Lucas 14000 Jericho Park Road Bowie MD 20715 829317 0 X N/A X 1972 MD To facilitate fundraising and stewardship efforts of Bowie State University. 17 17 0 0 0 0 268317 380756 0 0 168370 211726 89304 56263 525991 648745 231740 243704 0 0 49951 48840 0 0 0 445055 509878 726746 802422 -200755 -153677 7190800 6880968 17274 60149 7173526 6820819 To facilitate fund-raising efforts that seek from private sources contributions in support of the activities and mission of Bowie State University. BSUF assumes oversight of gift administration for contributions to the University including gift acceptance. 0 0 756528 243704 104578 To provide oversight of gift administration for contributions to the University including gift acceptance, acknowledgement and stewardship to gifts received. 756528 1 1 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 X 20 0 1 0 0 0 0 0 1 1 1 1 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MD X Jacquelyn Eubanks-Rudd 3018604308 14000 Jericho Park Road Bowie MD 20715 X Jacqueline W Sales 2.00 X X 0 0 0 Harmon L Cooper 2.00 X X 0 0 0 Keith Holmes 3.00 X X 0 0 0 A Toni Lewis 2.00 X X 0 0 0 Albert R Wynn 1.00 X 0 0 0 Andrew M Roud 1.00 X 0 0 0 C Glenn Mahone 1.00 X 0 0 0 Craig Stevenson 1.00 X 0 0 0 Cynthia Jackson 1.00 X 0 0 0 Dr Karl Brockenbrough 1.00 X 0 0 0 Dr Mickey L Burnim 1.00 X 0 0 0 Hon Douglas J J Peters 1.00 X 0 0 0 Kimberly A Stokes 1.00 X 0 0 0 Mildred Ridgley Gray 1.00 X 0 0 0 Robert J Antonetti Jr 1.00 X 0 0 0 Thomas H Graham 1.00 X 0 0 0 Dr Richard L Lucas Jr 4.00 X X 0 0 0 Jacquelyn Eubanks-Rudd 20.00 X 0 0 0 0 0 0 0 0 0 0 0 31350 349406 380756 252 252 325081 113607 211474 211474 211474 18650 31350 66965 -48315 -48315 Other Revenue 900099 104578 104578 104578 648745 104578 0 163411 243704 243704 48840 46398 2442 155 155 17900 17900 102079 89128 12951 24192 24192 2539 2539 8790 3651 5139 Bad debt 230500 230500 Subscriptions & dues 99058 98858 200 Uniform & accessories 1233 1233 23432 18864 4568 802422 756528 45894 0 435060 775313 830224 570991 311391 2000 5603224 5526357 10901 6307 7190800 6880968 17274 60149 17274 60149 X 402844 320453 2681561 2036201 4089121 4464165 7173526 6820819 7190800 6880968 X -153677 -199030 X X 0 1 1 X 0 X 650710 1797854 694913 268317 349406 3761200 650710 1797854 694913 268317 349406 3761200 3761200 65655 27306 182623 168370 325333 769287 4530487 89304 0.83020 0.89060 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5354330 374999 12311 217191 5524449 4642985 144001 769545 202201 5354330 3710111 493777 532159 93062 4642985 0.10230 0.80810 0.08960 1 0 0 Investments 5526357 F 5526357 648745 802422 -153677 -199030 -199030 -352707 516680 -199030 66965 -132065 648745 0 648745 869387 66965 66965 802422 0 802422 Description of Intended Use of Endowment Funds: Part V, Line 4: The endowment funds are used to support the activities of Bowie State University, chiefly through the issuance of scholarships to students. Description of Uncertain Tax Positions Under FIN 48: Part X: FIN 48 Footnote - The Foundation is a not-for-profit organization exempt from Federal income taxes under Section 501(c)(3) of the Internal Revenue Code and is recognized as such by the Internal Revenue Service. The Foundation has also been classified as an entity that is not a private foundation within the meaning of Section 509(a)(1). Accounting principles generally accepted in the United States establishes guidelines for recognizing, measuring, and disclosing tax return positions in financial statements. Management has evaluated the tax positions of the Foundation and determined that the application of these accounting principles had no material impact on its financial statements. Accordingly, no adjustments for unrecognized tax benefits or related interest or penalties were required as of June 30, 2012 and 2011. If applicable, the Foundation would recognize accrued interest and penalties related to unrecognized tax benefits in the statement of activities and changes in net assets. Management is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits would significantly increase or decrease during the next twelve months. Each of the tax years in the four-year period ending June 30, 2012, remains subject to examination by federal taxing authorities; however, certain state taxing authorities may lengthen this period to five years. Part XII, Line 2d - Other Adjustments: Special Event Expenses 66,965. Part XIII, Line 2d - Other Adjustments: Special Event Expenses 66,965. NNEENA Freelon Concert 20875 20875 34932 Golf Classic 16320 5700 10620 18798 1 12805 4775 8030 13235 50000 31350 18650 66965 66965 -48315 0 Scholarships 181 243704 Form 990, Part V, Line 2a: All paid personnel of Bowie State University Foundation are employees of Bowie State University. As such, the University handles all payroll services and these employees are reported under the employer identification number (EIN) of the University. The related payroll expenses associated with these employees is allocated to the Foundation by the University and is included in the Foundation's books as a reimbursement to the University. Form 990, Part VI, Section B, line 11 The Audit and Finance Committee meet, review, discuss and approve the Form 990 and it is then mailed to the full Board prior to being filed to the IRS. Form 990, Part VI, Section B, line 12c Officers and directors are required to complete the conflict of interest disclosure form and it is updated annually. Disclosure and discussion is required for those who have declared conflicts. The discussion is conducted by either the Chairman of the Board or the Executive Director of the Foundation. In addition, individuals who are identified as having a conflict of interest might be required to have a consultation with the Chairman of the Board, the Executive Director, legal counsel, the executive committee or the full Board in executive session. Decisions are made on a case by case basis and depending on the actual relationship, the consequences would be determined based on the facts and the situation. Form 990, Part VI, Line 15a: The Executive Director, who primarily serves as the Vice President for Institutional Advancement, is selected by a search committee. They are not necessarily independent persons. The salary is determined by the University's human resources department in conjunction with negotiations from the perspective candidate and governing rules of the position, class and range. Form 990, Part VI, Section C, line 19 The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized losses on investments: -199,030. Form 990, Part XII, Line 2c: The process has not changed from prior year.