2011-06-24T10:35:19-05:00 2010-06-30 BDO USA LLP 7101 Wisconsin Ave Suite 800 Bethesda MD 208144827 990 2009-07-01 546046419 UNIVERSITY OF VIRGINIA DARDEN SCHOOL FOUNDATION UNIV 4349244879 PO BOX 7263 CHARLOTTESVILLE VA 22906 laura b terry 4349244879 2011-06-24 1 Joyce M Underwood 3016544900 2009 2016-02-24 21:20:13Z X laura b terry PO BOX 7263 CHARLOTTESVILLE VA 22906 92915601 0 X www.darden.virginia.edu X 1952 VA Support of the Darden School and the School's top-ranked Executive Education Program, and promotes philanthropic support of the School by alumni, friends, and corporations. 36 30 193 5 497666 -23532 5334818 9335547 25336645 24897065 4683118 5624776 300728 123997 35655309 39981385 14952342 19327398 0 9908093 10031643 0 4960447 17859822 18749520 42720257 48108561 -7064948 -8127176 286777295 297947737 56348710 55546280 230428585 242401457 The University of Virginia Darden School Foundation's primary purpose is to promote the advancement and further the aims and purposes of the Darden School of Business Administration of the University of Virginia. To achieve this purpose, the Foundation manages endowment funds for the exclusive benefit of the Darden School, operates the School's top-ranked Executive Education program, and promotes philanthropic support of the School by alumni, friends, and corporations. Funds provided annually to the School by the Foundation contribute to all phases of life at Darden. In the past several years, these funds provided more than half of the School's operating budget. 0 0 40851350 19327398 25180116 Higher Education: Promote the advancement and further aims of the Darden Graduate School of Business Administration of the University of Virginia. The University of Virginia Darden School Foundation's primary purpose is to promote the advancement and further the aims and purposes of the Darden Graduate School of Business Administration of the University of Virginia. To achieve this purpose, the Foundation manages endowment funds for the exclusive benefit of the Darden School, operates the School's top-ranked Executive Education program, and promotes philanthropic support of the school by alumni, friends, and corporations. Funds provided annually to the School by the Foundation contribute to all phases of life at Darden. 40851350 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 1 141 0 1 193 1 1 1 0 0 0 0 0 0 0 0 36 30 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 VA X LAURA B TERRY 4349244879 100 Darden Boulevard CHARLOTTESVILLE VA 22903 Henry F Skelsey 1.00 X X 0 0 0 Peter D Kiernan 1.00 X X 0 0 0 Thomas J Baltimore Jr 1.00 X 0 0 0 G David Cheek 1.00 X 0 0 0 James Su-Ting Cheng 1.00 X 0 0 0 Trip Davis 1.00 X 0 0 0 Michael A DeCola 1.00 X 0 0 0 Louis G Elson 1.00 X 0 0 0 John M Farrell Jr 1.00 X 0 0 0 Donald W Goodman 1.00 X 0 0 0 William H Goodwin Jr 1.00 X 0 0 0 Martina T Hund-Mejean 1.00 X 0 0 0 William I Huyett 1.00 X 0 0 0 Philip W Knisely 1.00 X 0 0 0 John G Macfarlane III 1.00 X 0 0 0 Carolyn S Miles 1.00 X 0 0 0 Marshall N Morton 1.00 X 0 0 0 Harry T Rein 1.00 X 0 0 0 Walter E Shill III 1.00 X 0 0 0 Bryan H Simms 1.00 X 0 0 0 E Follin Smith 1.00 X 0 0 0 John R Strangfeld Jr 1.00 X 0 0 0 James W Todd 1.00 X 0 0 0 Carroll M Warfield 1.00 X 0 0 0 Roger L Werner Jr 1.00 X 0 0 0 Elizabeth K Weymouth 1.00 X 0 0 0 Vanessa A Wittman 1.00 X 0 0 0 Lewis F Payne Jr 1.00 X 0 0 0 Jennifer McEnery Finn 1.00 X 0 0 0 Mark A Riser 1.00 X 0 0 0 Thomas F Farrell II 1.00 X 0 0 0 Theodore M Forbes 50.00 X X 414752 0 40697 John Casteen 50.00 X 0 1859718 216688 Bob Bruner 50.00 X 0 530484 76115 Peter Rodriguez 50.00 X 41700 218944 29738 Ken Eades 50.00 X 34000 253265 33652 David L Newkirk 50.00 X 319936 0 40069 Laura B Terry 50.00 X 156482 0 32057 Michael J Woodfolk 50.00 X 155756 0 20935 Kenneth A White 50.00 X 170140 4620 32935 Luciano Centini 50.00 X 199513 0 29319 Thomas A Cross 50.00 X 193308 0 24576 LeAnn M Buntrock 50.00 X 133052 0 21139 Eugene Meoni 50.00 X 123736 0 29758 Dean W Krehmeyer 50.00 X 124400 0 26578 Brandt Allen 50.00 X 76250 267507 31654 2143025 3134538 685910 16 1 1 0 UVIMCO PO Box 400215 Charlottesville VA 22904 Investment Management 484686 American Public Media PO Box 70870 St Paul MN 55170 Public Radio Programming 222857 Mark E Haskins 5153 Brook View Road Crozet VA 22932 Teaching Fees 203300 Alexander B Horniman 1344 Hilltop Road Charlottesville VA 22903 Teaching Fees 200024 J J Enterprise PO Box 4077 Charlottesville VA 22903 Printing 161474 12 9335547 124819 9335547 EXECUTIVE EDUCATION 721110 24897065 24399399 497666 24897065 97780 97780 58461212 52934216 5526996 5526996 5526996 Alum Relations Reunion 900099 109595 109595 Parking Revenue 900099 102252 102252 Losses from K-1s 900099 -159054 -159054 71204 71204 123997 39981385 24523396 497666 5624776 19327398 19327398 1516717 805158 711559 6595233 5275672 536471 783090 590676 472056 40577 78043 841673 688791 73210 79672 487344 378120 52494 56730 26714 1189 10434 15091 67881 16150 51731 512375 512375 5207238 4900746 82089 224403 1076661 1075214 361 1086 2944853 2753843 53650 137360 88111 67574 19918 619 2342367 2133122 77316 131929 1346656 1207427 28575 110654 6037 5373 259 405 141154 141154 101863 65836 36027 Adjustment PY Pledge 2738631 2738631 COGS 1235439 1235439 Bad debt expense 795193 199482 5187 590524 Miscellaneous 118347 101606 4531 12210 48108561 40851350 2296764 4960447 17773 22714 14971749 20750127 15167490 15256935 4257153 3053980 125697 137272 868775 947828 4161573 2603996 952328 1557577 4574907 5084826 169277589 176866904 76563834 74269574 286777295 297947737 1077624 2417328 1157854 2525465 54113232 50603487 56348710 55546280 X 72968214 73389973 50106720 59847648 107353651 109163836 230428585 242401457 286777295 297947737 X 0 1 1 X 0 X X X 0 0 0 UVA COLGATE DARDEN GRADUATE SCHOOL OF BUSINESS ADMINISTRATION 546001796 6 1 1 1 19327398 1 19327398 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 142046037 1810185 19117414 2487551 5930048 482817 154073220 186633839 1702867 -37889720 1939846 4267110 2193993 142046037 0.70850 0.29150 0 0 884108 214941 669167 1905349 1343189 562160 679030 453447 225583 693086 592419 100667 1557577 UVIMCO managed funds-UVA related foundation 176866904 F 176866904 OTHER ASSETS 325214 RIGHTS OF OCCUPANCY 73944360 74269574 FUNDS HELD FOR the darden SCHOOL AND STUDENT clubs 1256730 Notes payable to UVA 49346757 50603487 39981385 48108561 -8127176 19940994 159054 20100048 11972872 59569058 19940994 19940994 39628064 512375 -159054 353321 39981385 47596186 0 47596186 512375 512375 48108561 Part V, Line 4: Description of Intended Use of Endowment Funds: The Foundation's endowment supports the Darden School through scholarships, chairs, research, educational programs, and alumni services. Part X: Description of Uncertain Tax Positions Under FIN 48: The Foundation adopted the provisions of ASC 740-10 on Accounting for Uncertainty in Income Taxes, on July 1, 2009. Under ASC 740-10, an organization must recognize the tax benefit associated with tax positions taken for tax return purposes when it is more-likely-than-not that the position will be sustained. The implementation of ASC 740-10 had no impact on the Foundation's financial statements. The Foundation's management believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits. For the year ended June 30, 2010, the Foundation did not recognize any interest or penalties. Tax years 2008-2006 remain open to examination by the taxing jurisdictions to which the Foundation is subject, and they have not been extended beyond the applicable statute of limitations. Part XI, Line 8 - Other Adjustments: Book to tax adjustment for passthrough entities: 159054. Part XII, Line 4b - Other Adjustments: Book to tax adjustment for passthrough entities: -159054. East Asia & the Pacific 0 0 Program services Executive Education Courses 175760 Middle East and North Africa 0 0 Program services Executive Education Courses 12449 Russia and the Newly Independent States 0 0 Program services Executive Education Courses 15716 0 0 203925 1 UVA- DARDEN SCHOOL of business administration PO Box 6550 Charlottesville VA 22906 546001796 501(c)(3) 19327398 Scholarships, chairs, research, facilities, & educational programs 1 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: The Foundation's Finance and Administration Office requests and reviews documentation substantiating all funds requested by the Darden School. For funds restricted by donors, the Foundation's Finance and Administration Office requests adequate documentation for and reviews the supporting documents to ensure compliance with the donor's restricted purpose prior to releasing funds to the Darden School. X 1 1 X X X X X 0 0 0 0 0 0 0 1 0 Theodore M Forbes 294752 0 120000 0 0 0 25480 0 18383 0 458615 0 0 0 John Casteen 0 484941 0 1359777 0 15000 0 202128 0 15781 0 2077627 0 0 Bob Bruner 0 512943 0 0 0 17541 0 53966 0 23407 0 607857 0 0 Peter Rodriguez 0 215582 0 3247 41700 115 0 16153 0 14467 41700 249564 0 0 Ken Eades 0 251582 0 0 34000 1683 0 22112 0 12898 34000 288275 0 0 David L Newkirk 265936 0 54000 0 0 0 25480 0 17127 0 362543 0 0 0 Laura B Terry 156482 0 0 0 0 0 17160 0 17062 0 190704 0 0 0 Michael J Woodfolk 155756 0 0 0 0 0 16307 0 6724 0 178787 0 0 0 Kenneth A White 170140 0 0 0 0 4620 18200 0 16985 0 205325 4620 0 0 Luciano Centini 124593 0 0 0 74920 0 13520 0 17523 0 230556 0 0 0 Thomas A Cross 111308 0 0 0 82000 0 11989 0 14188 0 219485 0 0 0 LeAnn M Buntrock 133052 0 0 0 0 0 15600 0 7240 0 155892 0 0 0 Eugene Meoni 123736 0 0 0 0 0 13520 0 18106 0 155362 0 0 0 Dean W Krehmeyer 124400 0 0 0 0 0 13312 0 14976 0 152688 0 0 0 Brandt Allen 0 267177 0 0 76250 330 0 20259 0 12622 76250 300388 0 0 Part I, Line 1a The Foundation pays a discounted rate on UVA gym memberships, which is available to all employees. The maximum benefit received was $135. Part I, Line 7 The Foundation pays teaching fees for some employees who teach in Executive Education programs and bonuses that are not tied to revenues or net earnings. Employees have the option of electing to contribute a portion of their salary to the Foundation's retirement plan. John Macfarlane See Sch O 512375 UVIMCO Fee 1 X 60 120025 FMV X Gifts in Kind 6 4794 Actual Exp Incurred 0 1 1 Third Party Use: Part I, Line 32b: The Foundation uses a broker to immediately sell all securities received by the Foundation in accordance with Foundation policy. Form 990, Part VI, Section B, line 11 The Director of Finance reviewed the 990 with the Audit and Finance Committee Chair. Electronic copies are provided to the full board. Form 990, Part VI, Section B, line 12c The Foundation distributes conflict of interest forms annually. Form 990, Part VI, Section B, line 15 The Foundation utilizes an independent compensation consultant, compensation surveys and benchmarking, Form 990 of other organizations, and obtains approval from the compensation committee. Form 990, Part VI, Section C, line 19 The organization's governing documents, conflict of interest policy, and financial statements are made available to the public upon request. Form 990, Part XI, Line 2c Oversight of audit There have been no changes during the year in the process for oversight of the audit of the financial statements. Form 990, Sch L, Part IV Business Transactions Involving Interested Persons Column A - Name - John Macfarlane Column B - Relationship between interested person and the organization- Chairman of DSF and Trustee/Chairman of the UVIMCO Investment Committee. Column D - Description of Transaction - Investment fees paid to UVIMCO Additional Information - Mr. Macfarlane was both a trustee of the Darden School Foundation and a trustee/Chair of the UVIMCO Investment Committee. DSF paid investment management fees of $512,375 to UVIMCO in FY 2010. This fee is assessed based on assets under management. Form 990, Sch R, Part V, Line 1e Loan Guarantees by other organizations UVA has provided the Darden School Foundation with a guarantee for a loan program the Foundation had entered into with two independent third parties, which guarantees loans for international students. The international student loan program supports the Darden School's objectives of attracting international students. Form 990, Item B, Amended Return Reason for Amendment The return is amended to update the financial information to agree to the final audited financial statements issued subsequent to the initial filing. The Parts of the return that changed were 990 Parts I, IX, and X, and Schedule D Parts V, XI and XIII. The 990 Part I change reflects a $5,872,659 reduction in total fundraising expenses included in other expenses. The 990 Part IX change reflects a $5,872,659 reduction in line 24a. The Part X change reflects a $5,872,659 increase in net contributions receivable, a $4,698,127 increase in temporarily restricted net assets, and a $1,174,532 increase in permanently restricted net assets. The changes to Sch D, Parts V, XI and XIII reflect the changes made to Parts IX and X. University of Virginia Darden School of Business PO Box 6550 Charlottesville VA 22906 546001796 Education VA 501(c)(3) 170(b)(1) (A)(ii) N/A 0 1 0 0 1 0 0 0 0 0 1 1 1 1 0 0 0 0