UNIVERSITY OF MEMPHIS FOUNDATION: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- UNIVERSITY OF MEMPHIS FOUNDATION (EIN 62-6048540)
- Tax period
- 2024-07-01 to 2025-06-30
- Filed
- 2026-05-01
- IRS object ID
- 202611219349301956
- Schema version
- 2024v5.5
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule F
- Schedule I
- Schedule J
- Schedule M
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2026-05-01T13:32:39-05:00 | ReturnTs |
| Tax Period End | 2025-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 341874260 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CBIZ ADVISORS LLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 700 WEST 47TH STREET SUITE 1100 | AddressLine1Txt |
| City | KANSAS CITY | CityNm |
| State Abbreviation | MO | StateAbbreviationCd |
| ZIP | 64112 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 626048540 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | UNIVERSITY OF MEMPHIS FOUNDATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | UNIV | BusinessNameControlTxt |
| Phone | 9016783256 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 635 NORMAL ST ALUMNI CENTER 108 | AddressLine1Txt |
| City | MEMPHIS | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 38152 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | TARA JONES | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 9016783256 | PhoneNum |
| Signature | 2026-04-30 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | LISA BURKE | PreparerPersonNm |
| PTIN | P00220718 | PTIN |
| Phone | 8169455500 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | TARA JONES | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 635 NORMAL ST ALUMNI CENTER 108 | AddressLine1Txt |
| City | MEMPHIS | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 38152 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $70,730,232 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.UOFMFOUNDATION.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1964 | FormationYr |
| Legal Domicile State | TN | LegalDomicileStateCd |
| Activity Or Mission | THE FOUNDATION ACCEPTS, MANAGES, AND DISBURSES PRIVATE SUPPORT TO THE UNIVERSITY OF MEMPHIS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 17 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 15 | VotingMembersIndependentCnt |
| Total Employee | 6 | TotalEmployeeCnt |
| Total Volunteers | 16 | TotalVolunteersCnt |
| Total Gross UBI | $252,685 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $29,105,214 | PYContributionsGrantsAmt |
| CY Contributions Grants | $53,410,987 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $5,341,618 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $4,550,859 | CYProgramServiceRevenueAmt |
| PY Investment Income | $6,502,424 | PYInvestmentIncomeAmt |
| CY Investment Income | $8,440,361 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $40,949,256 | PYTotalRevenueAmt |
| CY Total Revenue | $66,402,207 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $21,569,885 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $28,528,195 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $698,840 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $806,672 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $536,197 | PYOtherExpensesAmt |
| CY Other Expenses | $823,190 | CYOtherExpensesAmt |
| PY Total Expenses | $22,804,922 | PYTotalExpensesAmt |
| CY Total Expenses | $30,158,057 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $18,144,334 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $36,244,150 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $264,333,656 | TotalAssetsBOYAmt |
| Total Assets EOY | $347,186,036 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $19,063,762 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $10,758,179 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $245,269,894 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $336,427,857 | NetAssetsOrFundBalancesEOYAmt |
| Mission | THE FOUNDATION ACCEPTS, MANAGES, AND DISBURSES PRIVATE SUPPORT TO THE UNIVERSITY OF MEMPHIS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $28,549,850 | ExpenseAmt |
| Grant | $28,528,195 | GrantAmt |
| Revenue | $4,550,859 | RevenueAmt |
| Desc | THE FOUNDATION PROVIDES FUNDS FOR SCHOLARSHIPS, FELLOWSHIPS, ACADEMIC ENRICHMENT, AND VARIOUS OTHER PROGRAMS AND PROJECTS IN SUPPORT OF THE STUDENTS, FACULTY, STAFF AND MISSION OF THE UNIVERSITY OF MEMPHIS. | Desc |
| Total Program Service Expenses | $28,549,850 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (1) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | Yes (1) | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | Yes (1) | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| Info In Schedule O Part V | Yes (X) | InfoInScheduleOPartVInd |
| IRP Document | 213 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 6 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | Yes (1) | QuidProQuoContributionsInd |
| Quid Pro Quo Contri Discl | Yes (1) | QuidProQuoContriDisclInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 17 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 15 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (1) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | TN | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MARK NICELL CBO | PersonNm |
| Phone | 9016783256 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 635 NORMAL ST ALUMNI CENTER 108 | AddressLine1Txt |
| City | MEMPHIS | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 38152 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (20 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd |
|---|---|---|---|---|---|---|---|
| DR BILL HARDGRAVE | |||||||
| DIRECTOR | 1.00 | 39.00 | Yes (X) | $0 | $711,906 | $24,546 | |
| RENE BUSTAMANTE | |||||||
| DIRECTOR | 1.00 | 39.00 | Yes (X) | $0 | $323,219 | $53,878 | |
| DAVID TATE | |||||||
| PRESIDENT | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| JOHN WILFONG | |||||||
| VICE PRESIDENT | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| GLYNNA CHRISTIAN | |||||||
| VICE PRESIDENT ELECT | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| TANYA HART | |||||||
| TREASURER | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| REGINALD PORTER | |||||||
| SECRETARY | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| FRED TOWLER | |||||||
| IMMEDIATE PAST PRESIDENT | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | |
| SUDHIR AGRAWAL | |||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| MARK CHRISTOPHER | |||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| HOLLY GOUGHNOUR | |||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| LAURALAN GRISONI | |||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| DAPHNE LARGE | |||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| JOHN MICKEY ROBINSON | |||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| DOUGLAS SCARBORO | |||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| DAVID SCULLY | |||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| MONICA WHARTON | |||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| HARRY SMITH | |||||||
| DIRECTOR (THRU 12/31/24) | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| HOLLY FORD | |||||||
| FOUNDATION CEO | 30.00 | 10.00 | $174,099 | $0 | $30,279 | Yes (X) | |
| MARK NICELL | |||||||
| FOUNDATION CBO | 30.00 | 10.00 | $145,153 | $0 | $13,964 | Yes (X) | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $319,252 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $1,035,125 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $122,667 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 2 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VANGUARD | BusinessNameLine1Txt |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 100 VANGUARD BLVD | AddressLine1Txt |
| City | MALVERN | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 19355 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | INVESTMENT FEES | ServicesDesc |
| Compensation | $266,396 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
| All Other Contributions | $53,410,987 | AllOtherContributionsAmt |
| Noncash Contributions | $2,127,619 | NoncashContributionsAmt |
| Total Contributions | $53,410,987 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | M CLUB MEMBERSHIP BENEFITS | Desc |
| Business | 711210 | BusinessCd |
| Total Revenue Column | $4,550,859 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $4,550,859 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $4,550,859 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $7,198,653 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $252,685 | UnrelatedBusinessRevenueAmt |
| Exclusion | $6,945,968 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $5,569,733 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $4,328,025 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,241,708 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,241,708 | TotalRevenueColumnAmt |
| Exclusion | $1,241,708 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $66,402,207 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $4,550,859 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $252,685 | UnrelatedBusinessRevenueAmt |
| Exclusion | $8,187,676 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $28,528,195 | TotalAmt |
| Program Services | $28,528,195 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $371,238 | TotalAmt |
| Management And General | $371,238 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $258,834 | TotalAmt |
| Program Services | $21,655 | ProgramServicesAmt |
| Management And General | $237,179 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $41,390 | TotalAmt |
| Management And General | $41,390 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $135,210 | TotalAmt |
| Management And General | $135,210 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $280,029 | TotalAmt |
| Management And General | $280,029 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $49,599 | TotalAmt |
| Management And General | $49,599 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $335,232 | TotalAmt |
| Management And General | $335,232 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $34,426 | TotalAmt |
| Management And General | $34,426 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $73,895 | TotalAmt |
| Management And General | $73,895 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $198 | TotalAmt |
| Management And General | $198 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,923 | TotalAmt |
| Management And General | $14,923 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,835 | TotalAmt |
| Management And General | $1,835 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,970 | TotalAmt |
| Management And General | $5,970 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $26,983 | TotalAmt |
| Management And General | $26,983 | ManagementAndGeneralAmt |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $100 | TotalAmt |
| Management And General | $100 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $30,158,057 | TotalAmt |
| Program Services | $28,549,850 | ProgramServicesAmt |
| Management And General | $1,608,207 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,215,894 | BOYAmt |
| EOY | $21,456,929 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $33,656,953 | BOYAmt |
| EOY | $45,745,787 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $35,812 | BOYAmt |
| EOY | $36,110 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $29,848 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $8,614 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $27,204 | BOYAmt |
| EOY | $21,234 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $183,712,873 | BOYAmt |
| EOY | $246,353,474 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $29,013,360 | BOYAmt |
| EOY | $33,382,440 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $671,560 | BOYAmt |
| EOY | $190,062 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $264,333,656 | BOYAmt |
| EOY | $347,186,036 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $338,341 | BOYAmt |
| EOY | $196,827 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $18,725,421 | BOYAmt |
| EOY | $10,561,352 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,063,762 | BOYAmt |
| EOY | $10,758,179 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,596,302 | BOYAmt |
| EOY | $41,847,776 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $237,673,592 | BOYAmt |
| EOY | $294,580,081 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $245,269,894 | BOYAmt |
| EOY | $336,427,857 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $264,333,656 | BOYAmt |
| EOY | $347,186,036 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $36,244,150 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $24,856,200 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $30,057,613 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| College Organization | Yes (X) | CollegeOrganizationInd |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $31,976,170 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $52,204,271 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $43,126,201 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $29,105,214 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $53,410,987 | CurrentTaxYearAmt |
| Total | $209,822,843 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $31,976,170 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $52,204,271 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $43,126,201 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $29,105,214 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $53,410,987 | CurrentTaxYearAmt |
| Total | $209,822,843 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $16,410,604 | SubstantialContributorsTotAmt |
| Public Support Total170 | $193,412,239 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $3,701,578 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $3,097,459 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $3,708,242 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $5,150,854 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $6,945,968 | CurrentTaxYearAmt |
| Total | $22,604,101 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $232,426,944 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $12,354,627 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.83210 | PublicSupportCY170Pct |
| Public Support PY170 | 0.80440 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $173,630,261 | BeginningYearBalanceAmt |
| Contributions | $4,781,879 | ContributionsAmt |
| Investment Earnings Or Losses | $23,262,020 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $4,399,190 | OtherExpendituresAmt |
| End Year Balance | $197,274,970 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $151,085,321 | BeginningYearBalanceAmt |
| Contributions | $5,389,023 | ContributionsAmt |
| Investment Earnings Or Losses | $20,882,331 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $3,726,414 | OtherExpendituresAmt |
| End Year Balance | $173,630,261 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $125,876,850 | BeginningYearBalanceAmt |
| Contributions | $13,513,175 | ContributionsAmt |
| Investment Earnings Or Losses | $14,494,884 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $2,799,588 | OtherExpendituresAmt |
| End Year Balance | $151,085,321 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $136,668,225 | BeginningYearBalanceAmt |
| Contributions | $12,285,239 | ContributionsAmt |
| Investment Earnings Or Losses | -$20,308,899 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $2,767,715 | OtherExpendituresAmt |
| End Year Balance | $125,876,850 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $96,488,206 | BeginningYearBalanceAmt |
| Contributions | $10,860,668 | ContributionsAmt |
| Investment Earnings Or Losses | $32,930,842 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $3,611,491 | OtherExpendituresAmt |
| End Year Balance | $136,668,225 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.00000 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.65346 | PrmnntEndowmentBalanceEOYPct |
| Term Endowment Balance EOY | 0.34654 | TermEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | 0 | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $29,848 | OtherCostOrOtherBasisAmt |
| Depreciation | $8,614 | DepreciationAmt |
| Book Value | $21,234 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $21,234 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | LIMITED PARTNERSHIPS & LLCS | Desc |
| Book Value | $33,382,440 | BookValueAmt |
| Method Valuation | F | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $33,382,440 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| GIFT ANNUITY OBLIGATIONS | $52,374 |
| DUE TO AFFILIATES | $10,508,978 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $10,561,352 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $91,307,070 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $24,856,200 | NetUnrealizedGainsInvstAmt |
| Donated Services And Use Fclts | $276,429 | DonatedServicesAndUseFcltsAmt |
| Other Revenue | $66,514 | OtherRevenueAmt |
| Revenue Not Reported | $25,199,143 | RevenueNotReportedAmt |
| Revenue Subtotal | $66,107,927 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $294,280 | InvestmentExpensesNotIncldAmt |
| Revenue Not Reported Fincl Stmt | $294,280 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $66,402,207 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $31,079,046 | TotExpnsEtcAuditedFinclStmtAmt |
| Donated Services Use Fclts | $276,429 | DonatedServicesUseFcltsAmt |
| Other Expenses Included | $938,840 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $1,215,269 | ExpensesNotReportedAmt |
| Expenses Subtotal | $29,863,777 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $294,280 | InvestmentExpensesNotIncld2Amt |
| Expenses Not Rpt Fincl Stmt | $294,280 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $30,158,057 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART V, LINE 4: | THE FOUNDATION'S ENDOWMENT ACCOUNTS CONSIST OF DONOR-RESTRICTED ENDOWMENT FUNDS AND INCLUDE APPROXIMATELY 700 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE FOUNDATION'S PERMANENT ENDOWMENT ORIGINATED WITH CONTRIBUTIONS TO BE HELD IN PERPETUITY WITH THE CAPITAL APPRECIATION AND EARNING THEREON TO BE USED TO PROVIDE FINANCIAL ASSISTANCE TO DESERVING SCHOLARS, SALARY SUPPLEMENTS, AND AWARDS TO ATTRACT AND RETAIN OUTSTANDING FACULTY MEMBERS, VISITING ARTISTS AND LECTURERS, AND TO PROVIDE FOR VARIOUS DEPARTMENTAL AND UNIVERSITY NEEDS. |
| PART X, LINE 2: | THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS SIMILARLY EXEMPT FROM TENNESSEE STATE INCOME TAXES UNDER APPLICABLE PROVISIONS OF THE TENNESSEE TAX REGULATIONS. THE FOUNDATION'S LIMITED PARTNERSHIP INVESTMENTS GENERATE UNRELATED BUSINESS INCOME OR LOSS ACTIVITY WHICH IS SUBJECT TO FEDERAL INCOME TAXES. THERE WAS NO UNRELATED BUSINESS INCOME TAX EXPENSE (UBIT) FOR THE YEARS ENDED JUNE 30, 2025 AND 2024. THE FOUNDATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2025. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | CHANGE IN CSV OF LIFE INSURANCE 13,295. CHANGE IN VALUE OF GIFT ANNUITIES 53,219. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | WRITE OFF OF UNCOLLECTIBLE PLEDGES 938,840. |
Schedule F IRS990ScheduleF
Account Activities Outside US AccountActivitiesOutsideUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Region | CENTRAL AMERICA AND THE CARIBBEAN | RegionTxt |
| Offices | 0 | OfficesCnt |
| Employee | 0 | EmployeeCnt |
| Type Of Activities Conducted | INVESTMENTS | TypeOfActivitiesConductedTxt |
| Region Total Expenditures | $20,993,256 | RegionTotalExpendituresAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Offices | 0 | SubtotalOfficesCnt |
| Subtotal Employees | 0 | SubtotalEmployeesCnt |
| Continuation Total Office | 0 | ContinuationTotalOfficeCnt |
| Continuation Total Employee | 0 | ContinuationTotalEmployeeCnt |
| Total Office | 0 | TotalOfficeCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Subtotal Spent | $20,993,256 | SubtotalSpentAmt |
| Continuation Spent | $0 | ContinuationSpentAmt |
| Total Spent | $20,993,256 | TotalSpentAmt |
| Transfer To Foreign Corp | Yes (1) | TransferToForeignCorpInd |
| Interest In Foreign Trust | 0 | InterestInForeignTrustInd |
| Foreign Corp Ownership | Yes (1) | ForeignCorpOwnershipInd |
| Passive Foreign Investmest Co | Yes (1) | PassiveForeignInvestmestCoInd |
| Foreign Partnership | Yes (1) | ForeignPartnershipInd |
| Boycott Countries | 0 | BoycottCountriesInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE F, PART I, LINE 3: | FormAndLineReferenceDesc |
| Explanation | THE AMOUNT REPORTED IN COLUMN (F) REPRESENTS THE BOOK VALUE OF THE FOUNDATION'S FOREIGN INVESTMENTS. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Valuation Method UsedValuationMethodUsedDesc | Non Cash AssistanceNonCashAssistanceDesc | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|---|---|
| UNIVERSITY OF MEMPHIS | ||||||||||
| 3720 ALUMNI AVE | MEMPHIS | TN | 38152 | 620648618 | GOVERNMENT UNIT | $11,780,442 | $0 | N/A | N/A | UNIVERSITY AWARDS AND SCHOLARSHIPS |
| UNIVERSITY OF MEMPHIS | ||||||||||
| 3720 ALUMNI AVE | MEMPHIS | TN | 38152 | 620648618 | GOVERNMENT UNIT | $6,272,032 | $0 | N/A | N/A | UNIVERSITY SUPPORT, ADVANCEMENT, AND SPECIAL PROJECTS |
| UNIVERSITY OF MEMPHIS | ||||||||||
| 3720 ALUMNI AVE | MEMPHIS | TN | 38152 | 620648618 | GOVERNMENT UNIT | $0 | $10,475,721 | COST | UNIVERSITY OPERATIONAL COSTS PAID DIRECT | UNIVERSITY GENERAL SUPPORT (SEE PART IV) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 2: | THE FOUNDATION MAKES FUNDS AVAILABLE TO THE UNIVERSITY OF MEMPHIS FOR GRANTS AND ASSISTANCE. THE POST AWARD SERVICES DEPARTMENT AT THE UNIVERSITY OVERSEES THE GRANT SELECTION PROCESS AND MONITORS THE USE OF FUNDS IN ACCORDANCE WITH UNIVERSITY POLICY. IN ADDITION, THE FOUNDATION PAYS DIRECT OPERATIONAL COSTS ON BEHALF OF THE UNIVERSITY. |
| PART II: | UNIVERSITY OPERATIONAL COSTS PAID DIRECTLY BY THE FOUNDATION: ADVERTISING $3,326 ANNUITY EXPENSES $11,100 CONFERENCES $679,890 INSURANCE $12,263 INTEREST EXPENSE $80,537 LEGAL FEES $5,000 OCCUPANCY $320,864 OFFICE EXPENSES $881,369 PROFESSIONAL FEES $1,613,226 SPONSORSHIPS AND DONATIONS $157,353 TRAVEL $248,213 MAJOR PROJECTS* $6,462,580 TOTAL: $10,475,721 *MAJOR PROJECTS SUPPORTED IN FY25 INCLUDE THE LEFTWICH TENNIS FACILITY, HOUSTON STREET REAL ESTATE PROPERTY ACQUISITIONS, OLYMPIC TRAINING ROOM HYDROTHERAPY POOL PROJECT, AND UNIVERSITY HIGH SCHOOL LAB RENOVATIONS. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (4 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DR BILL HARDGRAVE | ||||||||||||||
| DIRECTOR | $0 | $681,306 | $0 | $0 | $0 | $30,600 | $0 | $650 | $0 | $23,896 | $0 | $736,452 | $0 | $0 |
| RENE BUSTAMANTE | ||||||||||||||
| DIRECTOR | $0 | $292,119 | $0 | $0 | $0 | $31,100 | $0 | $30,573 | $0 | $23,305 | $0 | $377,097 | $0 | $0 |
| HOLLY FORD | ||||||||||||||
| FOUNDATION CEO | $173,199 | $0 | $300 | $0 | $600 | $0 | $18,721 | $0 | $11,558 | $0 | $204,378 | $0 | $0 | $0 |
| MARK NICELL | ||||||||||||||
| FOUNDATION CBO | $143,553 | $0 | $1,000 | $0 | $600 | $0 | $13,964 | $0 | $0 | $0 | $159,117 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 3 | FormAndLineReferenceDesc |
| Explanation | ALL PAID FOUNDATION POSITIONS ARE SUBJECTED TO AN INDEPENDENT SALARY REVIEW BY STATE OF TENNESSEE PERSONNEL IN ACCORDANCE WITH STATE OF TENNESSEE POLICIES AND PROCEDURES. ALL FOUNDATION EMPLOYEES ARE LEASED FROM THE UNIVERSITY OF MEMPHIS ('UNIVERSITY'). THE FOUNDATION BOARD ('BOARD') DETERMINES THE ROLES, RESPONSIBILITIES AND QUALIFICATION REQUIREMENTS FOR EACH LEASED EMPLOYEE AND ASSESSES COMPENSATION BASED ON MARKET DEMANDS FOR SUCH TALENT. EACH FOUNDATION EMPLOYEE IS CATEGORIZED IN A UNIVERSITY PAY BAND BASED ON TASKS, EXPERIENCE AND QUALIFICATION REQUIREMENTS. THE PAY BAND INDICATES A SALARY RANGE WHICH SHOULD BE REFLECTIVE OF THE BOARD'S ASSESSMENT. THE BOARD DETERMINES COMPENSATION FOR THE FOUNDATION CEO. | ExplanationTxt |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 44 | ContributionCnt |
| Noncash Contributions Rpt F990 | $2,127,619 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | STOCK QUOTE | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form8283 Received | 0 | Form8283ReceivedCnt |
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | Yes (1) | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | 0 | ThirdPartiesUsedInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, COLUMN (B): | FormAndLineReferenceDesc |
| Explanation | THE TOTAL IN COLUMN (B), LINE 9, SECURITIES - PUBLICLY TRADED, REPRESENTS THE TOTAL NUMBER OF CONTRIBUTIONS. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART V, LINES 2A AND 2B: | THE SIX (6) FOUNDATION EMPLOYEES, INCLUDING THE FOUNDATION CEO AND CBO, ARE COMPENSATED DIRECTLY BY THE UNIVERSITY OF MEMPHIS, A RELATED ORGANIZATION (SEE SCHEDULE R) AND THE COMMON PAYMASTER. THE FOUNDATION REIMBURSES THE UNIVERSITY FOR ITS SHARE OF THE PAYROLL COSTS RELATED TO THOSE EMPLOYEES. ALL REQUIRED EMPLOYMENT TAX RETURNS ARE FILED BY THE UNIVERSITY. |
| FORM 990, PART VI, SECTION A, LINE 1A | THE EXECUTIVE COMMITTEE, AS PROVIDED FOR IN THE CHARTER, IS EMPOWERED TO CARRY ON THE BUSINESS OF THE FOUNDATION IN THE NAME OF THE BOARD OF DIRECTORS. ALL ACTIONS TAKEN BY THE EXECUTIVE COMMITTEE SHALL BE REPORTED TO THE BOARD OF DIRECTORS AT THE NEXT BOARD MEETING FOLLOWING SAID ACTION. |
| FORM 990, PART VI, SECTION A, LINE 4 | PURSUANT TO A CERTIFICATE AND ARTICLES OF MERGER EFFECTIVE JULY 1, 2024, THE HERFF TRUST WAS TRANSITIONED INTO THE FOUNDATION FOR OVERSIGHT. THE TRUST IS IN A SEPARATE AND CLEARLY IDENTIFIABLE FUND WITHIN THE FOUNDATION. THE FISCAL YEAR 2025 FINANCIAL STATEMENTS INCLUDE THE ACCOUNTS OF THE TRUST. THE TRUST WAS FORMED EXCLUSIVELY FOR THE BENEFIT OF THE UNIVERSITY AND CONTINUES TO HELP SUSTAIN AND EXPAND UNIVERSITY PROGRAMS. |
| FORM 990, PART VI, SECTION B, LINE 11B | FORM 990 IS PREPARED BY AN OUTSIDE CPA FIRM AND REVIEWED BY THE CEO. A COPY IS PROVIDED TO THE FINANCE COMMITTEE AND BOARD OF DIRECTORS PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | OFFICERS, DIRECTORS & EMPLOYEES ARE REQUIRED TO DISCLOSE ANY POSSIBLE PERSONAL, FAMILIAL OR BUSINESS RELATIONSHIPS THAT REASONABLY COULD GIVE RISE TO A CONFLICT OF INTEREST INVOLVING THE UNIVERSITY OF MEMPHIS FOUNDATION OR THE UNIVERSITY OF MEMPHIS. OFFICERS, DIRECTORS & EMPLOYEES SHALL DISCLOSE RELATIONSHIPS THAT THEY OR MEMBERS OF THEIR IMMEDIATE FAMILY MAINTAIN WITH ORGANIZATIONS THAT DO BUSINESS WITH THE FOUNDATION, UNIVERSITY OR ANY RELATED OR AFFILIATED ORGANIZATION, OR WHICH OTHERWISE COULD BE CONSTRUED TO POTENTIALLY AFFECT THEIR INDEPENDENT, UNBIASED JUDGMENT IN LIGHT OF THEIR DECISION-MAKING AUTHORITIES OR RESPONSIBILITIES. SUCH DISCLOSURES ARE TO BE MADE IN WRITING TO THE PRESIDENT OF THE BOARD OF DIRECTORS. WHEN AN OFFICER, DIRECTOR OR EMPLOYEE HAS A CONFLICT OF INTEREST, HE OR SHE SHALL REFRAIN FROM VOTING ON, PARTICIPATING IN A DISCUSSION ABOUT, OR EVEN BEING PRESENT DURING VOTING ON THE MATTER. |
| FORM 990, PART VI, SECTION B, LINE 15 | ALL FOUNDATION EMPLOYEES ARE LEASED FROM THE UNIVERSITY OF MEMPHIS ('UNIVERSITY'). THE FOUNDATION BOARD ('BOARD') DETERMINES THE ROLES, RESPONSIBILITIES AND QUALIFICATION REQUIREMENTS FOR EACH LEASED EMPLOYEE AND ASSESSES COMPENSATION BASED ON MARKET DEMANDS FOR SUCH TALENT. EACH FOUNDATION EMPLOYEE IS CATEGORIZED IN A UNIVERSITY PAY BAND BASED ON TASKS, EXPERIENCE AND QUALIFICATION REQUIREMENTS. THE PAY BAND INDICATES A SALARY RANGE WHICH SHOULD BE REFLECTIVE OF THE BOARD'S ASSESSMENT. THE BOARD DETERMINES COMPENSATION FOR THE FOUNDATION CEO. FOR OTHER FOUNDATION POSITIONS, THE BOARD APPROVES COMPENSATION BASED ON INPUT AND RECOMMENDATION FROM THE FOUNDATION CEO. FRINGE BENEFITS ARE NEGOTIATED AND DETERMINED BY THE STATE OF TENNESSEE. THE FOUNDATION REIMBURSES THE UNIVERSITY FOR THE FULL ANNUAL COMPENSATION, INCLUDING FRINGE BENEFITS, OF EACH LEASED EMPLOYEE. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION'S GOVERNING DOCUMENTS, FORM 990 & FORM 1023 ARE AVAILABLE UPON REQUEST. THE FINANCIAL STATEMENTS ARE MADE AVAILABLE ON THE ORGANIZATION'S WEBSITE AT WWW.UOFMFOUNDATION.ORG. |
| FORM 990, PART XI, LINE 9: | CHANGE IN CSV OF LIFE INSURANCE 13,295. CHANGE IN VALUE OF GIFT ANNUITIES 53,219. TRANSITION OF THE HERFF TRUST UNDER UMF OVERSIGHT 30,929,939. WRITE OFF OF UNCOLLECTIBLE PLEDGES -938,840. |
| FORM 990, PART XII, LINE 2C: | THE FOUNDATION HAS A FINANCE COMMITTEE THAT ASSUMES RESPONSIBILITY FOR SELECTION OF AN INDEPENDENT ACCOUNTANT AND OVERSIGHT OF THE ANNUAL FINANCIAL STATEMENT AUDIT. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEAR. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Direct Controlling NADirectControllingNACd | Controlled OrganizationControlledOrganizationInd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|---|---|
| THE UNIVERSITY OF MEMPHIS | |||||||||||
| 3720 ALUMNI AVE | MEMPHIS | TN | 38152 | 620648618 | PROVIDE HIGH QUALITY EDUCATIONAL OPPORTUNITIES | TN | 501(C)(3) | LINE 2 | N/A | 0 | |
| AUXILIARY SERVICES FOUNDATION | |||||||||||
| 635 NORMAL ST | MEMPHIS | TN | 38152 | 472335297 | AUXILIARY ENTERPRISES FOR THE DIRECT BENEFIT OF THE UNIVERSITY OF MEMPHIS | TN | 501(C)(3) | LINE 7 | N/A | 0 | |
| THE UNIVERSITY OF MEMPHIS RESEARCH FOUNDATION | |||||||||||
| 365 INNOVATION DR STE 303 | MEMPHIS | TN | 38152 | 205400381 | PROMOTE THE EDUCATION AND RESEARCH FUNCTIONS OF THE UNIVERSITY OF MEMPHIS | TN | 501(C)(3) | LINE 10 | 0 | THE UNIVERSITY OF MEMPHIS | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | Yes (1) | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | Yes (1) | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (1) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | Yes (1) | TransferToOtherOrgInd |
| Transfer From Other Org | Yes (1) | TransferFromOtherOrgInd |
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