2011-06-15T10:27:42-05:00 2010-07-31 RSM McGladrey Inc 570 Lake Cook Road Ste 300 Deerfield IL 60015 990 2009-08-01 364480416 Educational Advancement Fund inc EDUC 3129248000 525 South State Street Chicago IL 60605 MIROSLAVA MEIJA KRUG 3129248000 2011-06-15 1 WAYNE HARDER 8479401300 2009 2016-02-24 21:20:13Z UNIVERSITY CENTER OF CHICAGO ALICIA BERG 525 South State Street Chicago IL 60605 27333914 0 X www.universitycenter.com X 2001 DE maintenance of a residential housing complex for the benefit of three Chicago-area institutions of higher learning AND PROVIDING HOUSING TO THE STUDENTS THEREOF. 6 0 0 15 0 0 0 24517688 24187431 822699 666149 2705121 2480334 28045508 27333914 2000000 1500000 0 0 0 0 26167241 25432447 28167241 26932447 -121733 401467 144022965 142350843 153674285 151600696 -9651320 -9249853 THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS THE MAINTENANCE OF A RESIDENTIAL HOUSING COMPLEX FOR THE BENEFIT OF THREE CHICAGO-AREA TAX-EXEMPT INSTITUTIONS OF HIGHER LEARNING AND PROVIDING HOUSING TO THE STUDENTS THEREOF. 0 0 26814392 25746963 Educational Advancement Fund, Inc. is a not-for-profit, tax-exempt organization formed to acquire land and construct, operate, and maintain a college and university residential complex. The complex is located at State Street and Congress Parkway in Chicago, Illinois (the Project). The Corporation commenced construction of the Project in Spring 2002, and was substantially completed on July 31, 2004. The Project began Operations in August 2004. 26814392 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 6 0 0 1 0 0 1 0 0 1 1 0 0 1 0 0 0 0 0 0 X JOHN D SIMON 3124567114 20 N MICHIGAN AVE SUITE 400 CHICAGO IL 60602 ALICIA BERG 4.00 X X 0 202854 26741 MIROSLAVA MEIJA KRUG 4.00 X X 0 203447 25843 DR CHARLES MIDDLETON 1.00 X 0 455661 172142 DR WARRICK CARTER 1.00 X 0 395971 260211 FR DENNIS HOLTSCHNEIDER 1.00 X 0 598361 48690 ROBERT KOZOMAN 1.00 X 0 389720 69765 SHERRI SIDLER 8.00 X 0 133651 14637 0 2379665 618029 0 0 1 0 ARAMARK EDUCATIONAL SERVICES INC 1101 Market Street Philadelphia PA 19107 DINING SERVICES 4336056 US Equities Student Housing LLC 20 North Michigan Ave Chicago IL 60602 Management 2608108 MIDAMERICA ENERGY PO BOX 8020 DAVENPORT IA 52808 UTILITIES 689853 MIDWAY BUILDING SERVICES LTD 2425 East Devon Ave Elk Grove Village IL 60007 Maintenance 681497 PREMIER SECURITY CORP 35126 Eagle Way Chicago IL 60678 Security 661474 19 Room and Board Svc 531110 23713125 23713125 resident life svc 531110 474306 474306 24187431 666149 666149 920802 920802 920802 920802 Conference Housing Inc 532000 1095482 1095482 Conference Center Inco 532000 304194 304194 Miscellaneous Income 900099 159856 159856 1559532 27333914 25746963 0 1586951 1500000 1500000 1061037 1061037 38944 38944 27275 27275 170770 170770 211853 211853 7931752 7931752 3460997 3460997 259856 259856 food service expense 4733550 4733550 CONTRACT SERVICES 3169512 3169512 UTILITIES 1165619 1165619 AMORTIZATION OF DEFERRE 627987 627987 conference housing expe 400335 400335 2172960 2121124 51836 26932447 26814392 118055 0 2821620 3619935 1220000 359200 331171 253827 163360 133603161 20625238 115625758 112977923 23742560 25258454 144022965 142350843 3714268 3539614 149387478 147552859 572539 508223 153674285 151600696 X -9651320 -9249853 -9651320 -9249853 144022965 142350843 X 0 1 1 X 0 X X 0 0 0 Columbia College Chicago 366112087 02 1 1 1 13972620 DePaul university 362167048 02 1 1 1 3885965 roosevelt university 362167854 02 1 1 1 6195103 3 24053688 131772639 19850738 111921901 902836 62448 840388 927686 712052 215634 112977923 Interest Receivable 54520 deferred financing costs, net 552022 deferred leasing commissions, net 198744 debt service reserve fund 11414423 capital maintenance reserve fund 8461811 pledged revenue fund 2595073 series 2006b interest fund 938532 series 2006a interest fund 564927 series 2006b principal fund 464233 series 2006a principal fund 14169 25258454 security deposits 150675 deferred contract commitment 357548 508223 27333914 26932447 401467 0 401467 27333914 0 27333914 0 27333914 25432447 0 25432447 1500000 1500000 26932447 Part X: Description of Uncertain Tax Positions Under FIN 48: The Corporation follows the accounting standard on accounting for uncertainty in income taxes, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the Corporation may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the Corporation, and various positions related to the potential sources of unrelated business taxable income (UBIT). There were no unrecognized tax benefits identified or recorded as liabilities for the years ended July 31, 2010 and 2009. Part XIII, Line 4b - Other Adjustments: MEMBER SCHOOL DISTRIBUTIONS: 1500000. 1 COLUMBIA COLLEGE CHICAGO 600 S MICHIGAN AVENUE CHICAGO IL 60605 366112087 170(B)(1)(A)(II) 674118 SUPPORTING EDUCATIONAL PROGRAMS AND ACTIVITIES DEPAUL UNIVERSITY 1 EAST JACKSON BLVD CHICAGO IL 60604 362167048 170(B)(1)(A)(II) 518178 SUPPORTING EDUCATIONAL PROGRAMS AND ACTIVITIES ROOSEVELT UNIVERSITY 430 S MICHIGAN AVENUE CHICAGO IL 60605 362167854 170(B)(1)(A)(II) 307704 SUPPORTING EDUCATIONAL PROGRAMS AND ACTIVITIES 3 0 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: EDUCATIONAL ADVANCEMENT FUND OPERATES FOR THE SOLE BENEFIT OF DEPAUL UNIVERSITY, COLUMBIA COLLEGE CHICAGO, AND ROOSEVELT UNIVERSITY. ASSISTANCE IS PROVIDED TO THESE INSTITUTIONS AND NO GRANTS ARE MADE. 0 0 0 0 0 0 0 0 0 ALICIA BERG 0 202314 0 0 0 540 0 9104 0 17637 0 229595 0 0 MIROSLAVA MEIJA KRUG 0 190727 0 0 0 12720 0 8664 0 17179 0 229290 0 0 DR CHARLES MIDDLETON 0 392887 0 0 0 62774 0 163500 0 8642 0 627803 0 0 DR WARRICK CARTER 0 335000 0 45000 0 15971 0 166374 0 93837 0 656182 0 0 FR DENNIS HOLTSCHNEIDER 0 598361 0 0 0 0 0 19600 0 29090 0 647051 0 0 ROBERT KOZOMAN 0 389720 0 0 0 0 0 19600 0 50165 0 459485 0 0 ILLINOIS FINANCE AUTHORITY 861091967 45202QBE2 2006-10-20 123570960 STUDENT HOUSING REVENUE REFUNDING BONDS 0 0 ILLINOIS FINANCE AUTHORITY 861091967 45202QAR4 2007-02-01 42337296 STUDENT HOUSING REVENUE REFUNDING BONDS 0 0 123570960 121510012 2060948 0 1 1 1 42337296 41492344 844952 0 1 1 1 0 0 0 0 0 0.04000 0.00000 0.04000 1 0 0 0 0 0 0.04000 0.00000 0.04000 1 0 0 0 0 0 0 0 0 0 0 0 0 Form 990, Part VI, Section A, line 3 Day-to-day management of University Center (UCC) has been delegated to U.S. Equities Student Housing LLC (USESH), pursuant to the terms of a Facility Management Agreement. Form 990, Part VI, Section A, line 6 THE ORGANIZATION HAS MEMBERS. Form 990, Part VI, Section B, line 11 The organization'S tax advisor prepares the Form 990 based on information provided by financial management. The returns are reviewed by the tax advisor and financial management before being electronically provided to the board of directors and subsequently filed. FORM 990, PART VI, SECTION B, LINE 15: NO COMPENSATION IS PAID TO DIRECTORS AND OFFICERS. Form 990, Part VI, Section C, line 19 THE ORGANIZATION DOES NOT MAKE SUCH DOCUMENTS AVAILABLE TO THE GENERAL PUBLIC. FORM 990, PART VII, SECTION A IN ADDITION TO THE TIME DEVOTED TO EDUCATIONAL ADVANCEMENT FUND, INC., EACH MEMBER OF THE GOVERNING BODY ALSO CONTRIBUTES TIME TO ONE OF THREE CHICAGO AREA TAX-EXEMPT INSTITUTIONS THAT ARE SUPPORTED BY EDUCATIONAL ADVANCEMENT FUND, INC. ALICIA BERG, COLUMBIA COLLEGE CHICAGO, AVG. 40 HOURS PER WEEK MIROSLAVA MEIJA KRUG, ROOSEVELT UNIVERSITY, AVG. 40 HOURS PER WEEK DR. WARRICK CARTER, COLUMBIA COLLEGE CHICAGO, AVG. 40 HOURS PER WEEK DR. CHARLES MIDDLETON, ROOSEVELT UNIVERSITY, AVG. 40 HOURS PER WEEK FR. DENNIS HOLTSCHNEIDER, DEPAUL UNIVERSITY, AVG. 40 HOURS PER WEEK ROBERT KOZOMAN, DEPAUL UNIVERSITY, AVG. 40 HOURS PER WEEK SHERRI SIDLER, DEPAUL UNIVERSITY, AVG. 40 HOURS PER WEEK FORM 990, PART XI, LINE 2(C) THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. COLUMBIA COLLEGE CHICAGO 600 S MICHIGAN AVENUE CHICAGO IL 60605 366112087 EDUCATION IL 170(B)(1)(A)(II) 02 N/A DEPAUL UNIVERSITY 1 EAST JACKSON BLVD CHICAGO IL 60604 362167048 EDUCATION IL 170(B)(1)(A)(II) 02 N/A ROOSEVELT UNIVERSITY 430 S MICHIGAN AVENUE CHICAGO IL 60605 362167854 EDUCATION IL 170(B)(1)(A)(II) 02 N/A 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 COLUMBIA COLLEGE CHICAGO K 13298502 DEPAUL UNIVERSITY K 3367787 ROOSEVELT UNIVERSITY K 5887399 COLUMBIA COLLEGE CHICAGO Q 674118 DEPAUL UNIVERSITY Q 518178 ROOSEVELT UNIVERSITY Q 307704