2022-05-16T11:05:50-05:00 2021-06-30 390859910 BAKER TILLY US LLP 1570 FRUITVILLE PIKE SUITE 400 LANCASTER PA 17601 990 2020-07-01 233054174 WEST CHESTER UNIVERSITY FOUNDATION WEST 6104362868 202 CARTER DRIVE WEST CHESTER PA 19382 CINDY RAY CFO 6104362868 2022-05-16 1 CINDY RAY XXX-XX-XXXX KERRI N BOGDA CPA P00760402 7177404863 X 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z CHRISTOPHER MOMINEY 202 CARTER DRIVE WEST CHESTER PA 19382 21295143 0 X WWW.WCUFOUNDATION.ORG X 2000 PA PROMOTE THE CHARITABLE, SCIENTIFIC, AND EDUCATIONAL INTERESTS OF WEST CHESTER UNIVERSITY. 19 19 58 156 1372 0 4789131 7970526 1823037 1624363 1106061 1819802 -119382 63397 7598847 11478088 3693569 3115931 0 0 2812370 2855079 0 0 1202321 2165555 1428924 8671494 7399934 -1072647 4078154 45390669 53929586 3869474 4380222 41521195 49549364 X THE FOUNDATION WAS FORMED TO PROMOTE THE CHARITABLE, SCIENTIFIC, AND EDUCATIONAL INTERESTS OF WEST CHESTER UNIVERSITY. THE FOUNDATION ACHIEVES THIS BY SOLICITING FUNDS AND OTHER PROPERTY IN ACCORDANCE WITH PRIORITIES ESTABLISHED BY THE UNIVERSITY. 0 0 4467420 3115931 1624363 THE FOUNDATION'S PROGRAM SERVICE ACCOMPLISHMENTS DURING FISCAL YEAR JUNE 30, 2021 WERE:THE FOUNDATION RAISED OVER $7.9 MILLION IN CONTRIBUTIONS FOR WEST CHESTER UNIVERSITY:- OVER $2 MILLION OF THE $7.9 MILLION RAISED WAS DIRECTED TO ENDOWMENTS FOR THE BENEFIT OF FUTURE STUDENT SCHOLARSHIPS AND FUTURE SUPPORT FOR UNIVERSITY PROGRAMS AND ACTIVITIES. $1.094 MILLION IN SCHOLARSHIPS WERE AWARDED TO NEARLY 1,000 STUDENTS BASED ON CRITERIA DETERMINED BY DONORS. MANY OF THE SCHOLARSHIP RECIPIENTS COULD NOT EXPERIENCE THE OPPORTUNITIES AND BENEFITS OF A HIGH QUALITY WEST CHESTER UNIVERSITY EDUCATION WITHOUT THESE SCHOLARSHIPS.- FUNDS RAISED ALSO BENEFITED PROGRAMS AND ACTIVITIES SUCH AS ACADEMIC AND CULTURAL PROGRAMS, ATHLETIC PROGRAMS, JOINT UNDERGRADUATE STUDENT AND FACULTY RESEARCH, STUDENT AND FACULTY CONFERENCE ATTENDANCE, STUDENT PARTICIPATION IN NATIONAL TOURNAMENTS, PROFESSIONAL DEVELOPMENT, AND OTHER STUDENT SERVICES. 4467420 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 60 0 58 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 19 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK CA CO DC FL KY MD MA MI ME MN ND NV NH NY OH OR OK PA SC UT WA WI X CINDY RAY CFO 6104304156 202 CARTER DRIVE WEST CHESTER PA 19382 DR JOHN H BAKER PRESIDENT 0.20 0.20 X X 0 0 0 KATHLEEN LEIDHEISER TREASURER 0.20 0.20 X X 0 0 0 DR SANDRA F MATHER SECRETARY 0.20 0.20 X X 0 0 0 DR DAVID HOLVECK TRUSTEE 0.20 0.20 X 0 0 0 DR MAURY HOBERMAN TRUSTEE 0.20 0.20 X 0 0 0 EDWARD N COLLISON TRUSTEE 0.20 0.20 X 0 0 0 DR JOAN M KAMINSKI TRUSTEE 0.20 0.20 X 0 0 0 JOHN N NICKOLAS TRUSTEE 0.20 0.20 X 0 0 0 MAY VAN VICE PRESIDENT 0.20 0.20 X X 0 0 0 MILLIE CASSIDY TRUSTEE 0.20 0.20 X 0 0 0 DR TAHANY NAGGAR TRUSTEE 0.20 0.20 X 0 0 0 KEITH BEALE TRUSTEE 0.20 0.20 X 0 0 0 ROBERT PLUCIENIK TRUSTEE 0.20 0.20 X 0 0 0 ERIC BOSSARD TRUSTEE 0.20 0.20 X 0 0 0 MARISA TILGHMAN TRUSTEE 0.20 0.20 X 0 0 0 PAUL D EMRICK TRUSTEE 0.20 0.20 X 0 0 0 DR DAWN APGAR TRUSTEE 0.20 0.20 X 0 0 0 RANDALL WARREN TRUSTEE 0.20 0.20 X 0 0 0 DR STANLEY YAROSEWICK TRUSTEE 0.20 0.20 X 0 0 0 CHRISTOPHER MOMINEY CEO 30.00 15.00 X 264728 0 50293 MARIE COLAPRETE CHIEF HR OFFICER 30.00 15.00 X 119561 0 12296 CINDY RAY CFO 22.50 22.50 X 135307 0 21338 CHRISTINA FARRELL CHIEF ADVANCEMENT OPS OFFICER 45.00 X 101285 0 21876 DEBRA CORNELIUS CHIEF DEVELOPMENT OFFICER 45.00 X 106698 0 35581 727579 0 141384 5 0 1 0 BAKER TILLY US LLP PO BOX 78975 MILWAUKEE WI 52378 ACCOUNTING SERVICES 187857 BLACKBAUD 65 FAIRCHILD STREET CHARLESTON SC 29492 WEBSITE MANAGEMENT 104793 2 88151 7882375 357780 7970526 CONTRACT REVENUE 611710 1591000 1591000 ADVANCEMENT ASSOCIATE REIMBURSEME 611710 25648 25648 SPONSORSHIP REVENUE 611710 7715 7715 1624363 1130910 1372 1129538 500 1756 -1256 -1256 -1256 10132119 345000 9421796 366431 710323 -21431 688892 688892 56919 88151 27072 29847 29847 OTHER REVENUE 900099 34806 34806 34806 11478088 1624363 1372 1881827 1947075 1947075 1168856 1168856 763524 763524 1455168 645660 43316 766192 113873 50760 3477 59636 360658 142979 73712 143967 161856 50052 54207 57597 65391 65391 21490 21490 96852 96852 282840 211354 55325 16161 5718 5583 135 140359 93308 15207 31844 153987 27334 43860 82793 101196 44786 56410 1861 1861 107301 107301 277776 277776 48624 865 46358 1401 UBIT 400 400 MEALS AND ENTERTAINMENT 54244 43362 1452 9430 LICENSES, FEES, DEV 53772 24733 3925 25114 FLOWERS AND GIFTS 15416 8407 7009 1697 445 75 1177 7399934 4467420 1730193 1202321 332397 2051021 12196222 11374585 3207573 3587129 137593 85620 2643 2330 76422 67602 7313444 2607734 5337010 4705710 22022800 29933281 2078009 2122308 45390669 53929586 481526 611637 2638234 2443673 610000 1184000 139714 140912 3869474 4380222 X 9025048 6276850 32496147 43272514 41521195 49549364 45390669 53929586 X 4078154 4163822 -308388 94581 X 0 1 X 1 0 X 9802175 10513811 10284238 4789131 7970526 43359881 9802175 10513811 10284238 4789131 7970526 43359881 3523368 39836513 490146 883807 1130799 1059439 1148301 4712492 1432 1432 237956 204959 233890 103648 91725 872178 48945983 10197638 0.81390 0.81410 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER REVENUE - 2017 AMOUNT: $ 1,036. 2018 AMOUNT: $ 821. 2020 AMOUNT: $ 34,806. NON-CHARITABLE FUNDRAISING RECEIPTS - 2016 AMOUNT: $ 237,956. 2017 AMOUNT: $ 203,923. 2018 AMOUNT: $ 233,069. 2019 AMOUNT: $ 78,151. 2020 AMOUNT: $ 56,919. BAD DEBT RECOVERY - 2019 AMOUNT: $ 25,497. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 0 7399934 25460466 7399934 25460466 519997 1000000 129999 250000 0 0 0 0 1000000 1000000 1000000 1000000 4000000 6000000 250000 250000 250000 250000 1000000 1500000 21775112 2950280 5650041 379913 310535 29684985 20522287 944943 911113 379913 223318 21775112 15989983 3809454 1288100 352749 212501 20522287 14901883 681702 956323 317077 232848 15989983 12538450 1034880 1725658 145241 251864 14901883 0.00000 0.69000 0.31000 0 0 379085 379085 6302754 2029990 4272764 631605 577744 53861 4705710 LEASE LIABILITY 9050 CHARITABLE GIFT ANNUITY 131862 140912 X 15712610 4163822 41872 4205694 11506916 -28828 -28828 11478088 7684441 308388 72971 381359 7303082 96852 96852 7399934 PART V, LINE 4: FIFTY-SIX PERCENT OF THE ENDOWMENT FUNDS ARE USED TO PROVIDE SCHOLARSHIPS AND FINANCIAL AID TO WEST CHESTER UNIVERSITY STUDENTS. FORTY-FOUR PERCENT OF THE ENDOWMENT FUNDS ARE USED TO PROVIDE OPERATING FUNDS FOR VARIOUS WEST CHESTER UNIVERSITY DEPARTMENTS. PART X, LINE 2: MANAGEMENT HAS EVALUATED SUBSTANTIVE TAX POSITIONS TAKEN BY THE FOUNDATION AS OF JUNE 30, 2021 AND 2020. 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 HAS A LIKELIHOOD OF BEING REALIZED ON EXAMINATION OF MORE THAN 50 PERCENT. FOR TAX POSITIONS NOT MEETING THE "MORE-LIKELY-THAN-NOT" TEST, NO TAX BENEFIT IS RECORDED. MANAGEMENT BELIEVES NO SIGNIFICANT UNCERTAIN TAX POSITIONS EXIST, EITHER INDIVIDUALLY OR IN THE AGGREGATE, THAT WOULD GIVE RISE TO THE NONRECOGNITION OF AN EXISTING TAX BENEFIT. AS OF JUNE 30, 2021 AND 2020, THE FOUNDATION HAD NO MATERIAL UNRECOGNIZED TAX BENEFITS OR LIABILITIES. THE FOUNDATION'S AND USH'S FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS FOR 2020, 2019 AND 2018 REMAIN SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THE DATE THE RETURNS WERE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 138,724. INVESTMENT FEES -96,852. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSE -1,756. FUNDRAISING EXPENSES -27,072. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 1,756. FUNDRAISING EXPENSES 27,072. UNCOLLECTIBLE PLEDGES 44,143. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT FEES 96,852. SCHEDULE D, PARTS XI, XII AND XIII THE ORGANIZATION DID NOT PARTICIPATE IN SEPARATE, STAND-ALONE AUDITED FINANCIAL STATEMENTS. CONSOLIDATING SCHEDULES ARE LOCATED IN THE BACK OF THE CONSOLIDATED AUDITED FINANCIAL STATEMENTS. SCHEDULE D PARTS XI, XII, AND XIII, ALTHOUGH NOT REQUIRED, HAVE BEEN PREPARED TO RECONCILE THESE CONSOLIDATING SCHEDULES TO THE FINANCIAL INFORMATION ON THIS FORM 990. PRESIDENTIAL GALA 111707 70307 41400 14793 10647 MARCHING BAND GOLF OUTING 12335 2721 9614 1392 1 8132 4622 3510 132174 77650 54524 14793 12039 26832 27692 1 WEST CHESTER UNIVERSITY OF PENNSYLVANIA 700 SOUTH HIGH STREET WEST CHESTER PA 19383 232417773 170(C)(1) 1671139 12887 COST AND APPRAISALS DONATIONS TO BE USED IN THE OPERATIONS OF THE UNIVERSITY TO PROMOTE THE VARIOUS EXEMPT PURPOSES OF WEST CHESTER UNIVERSITY WEST CHESTER UNIVERSITY STUDENT SERVICES INC WCU SYKES UNION BLDG E ROSEDALE WEST CHESTER PA 19383 232490021 501(C)(3) 99968 TO PROMOTE THE VARIOUS EXEMPT PURPOSES OF STUDENT SERVICES, INC. WEST CHESTER UNIVERSITY ALUMNI ASSOCIATION 202 CARTER DRIVE WEST CHESTER PA 19382 231287817 501(C)(3) 20683 TO PROMOTE THE VARIOUS EXEMPT PURPOSES OF WEST CHESTER UNIVERSITY ALUMNI ASSOCIATION 2 1 SCHOLARSHIP FOR STUDENTS OF WEST CHESTER UNIVERSITY. 1011 1094991 HONORARIUMS TO SPEAKERS, VISITING ARTISTS, AND STUDENTS AT WEST CHESTER UNIVERSITY 30 73865 PART I, LINE 2: GRANTS AND OTHER ASSISTANCE INCLUDE AWARDS, PRIZES, STIPENDS, SCHOLARSHIPS, AND SIMILAR PAYMENTS AND DISTRIBUTIONS THAT THE FOUNDATION MAKES TO WEST CHESTER UNIVERSITY, ITS AFFILIATES, AND ITS STUDENTS. WRITTEN GUIDELINES FOR EACH RESTRICTED FUND DEFINE THE DONOR-RESTRICTED PURPOSE AND PARAMETERS OF THE FUND. DISBURSEMENTS FROM THESE FUNDS REQUIRE THE RECIPIENT TO SUBMIT VERIFIABLE AND INDEPENDENT DOCUMENTATION THAT MEET THE GUIDELINE CRITERIA. THE SUBMISSION IS VERIFIED BY FOUNDATION STAFF FOR COMPLIANCE WITH THE GUIDELINES PRIOR TO DISBURSEMENT TO THE RECIPIENT. PART II: WEST CHESTER UNIVERSITY FOUNDATION DISTRIBUTES DONOR-RESTRICTED FUNDS TO WEST CHESTER UNIVERSITY TO USE FOR CAPITAL PROJECTS. THE FOUNDATION ALSO DISTRIBUTES DONOR RESTRICTED FUNDS TO DESIGNATED AFFILIATED ENTITIES OF WEST CHESTER UNIVERSITY. ALL ENTITIES THAT RECEIVE FUNDS FROM WEST CHESTER UNIVERSITY FOUNDATION HAVE INTERNAL CONTROLS TO ENSURE MONIES ARE PROPERLY ALLOCATED AND USED. ON OCCASION WEST CHESTER UNIVERSITY FOUNDATION PROVIDES SMALL GRANTS TO OTHER NON-PROFIT ORGANIZATIONS. THE FOUNDATION MAKES EVERY EFFORT TO OBTAIN INDEPENDENT VERIFICATION THAT THE FUNDS WERE USED IN COMPLIANCE WITH THE FOUNDATION'S EXPECTATIONS. X X X X 0 0 0 0 0 0 0 0 0 CHRISTOPHER MOMINEY CEO 264728 0 0 0 0 0 24593 0 25700 0 315021 0 0 0 CINDY RAY CFO 135307 0 0 0 0 0 12570 0 8768 0 156645 0 0 0 X 11 344969 NYSE X 41 9009 PURCHASE PRICE X BOOK VOUCHERS 2 2127 COST X AMAZON ECHOS 20 1675 COST 0 0 1 0 PART I, COLUMN (B): THE NUMBERS IN COLUMN B REPRESENT THE NUMBER OF CONTRIBUTORS, EXCEPT FOR THE AMAZON ECHOS IN WHICH THE AMOUNT IN COLUMN B IS THE NUMBER OF ITEMS CONTRIBUTED. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE IS COMPOSED OF THE OFFICERS OF THE WCU FOUNDATION BOARD OF TRUSTEES AND THE (NON-VOTING) CEO AND CFO OF WCU FOUNDATION. THE EXECUTIVE COMMITTEE IS AUTHORIZED TO ACT FOR THE BOARD BETWEEN ITS REGULAR MEETINGS. THE EXECUTIVE COMMITTEE HAS AND MAY EXERCISE ALL OF THE POWERS AND AUTHORITY OF THE BOARD IN THE MANAGEMENT OF THE FOUNDATION. FORM 990, PART VI, SECTION B, LINE 11B THE CHIEF FINANCIAL OFFICER REVIEWS THE 990 DRAFT IN DETAIL. ONCE THE FINAL 990 HAS BEEN APPROVED BY THE CHIEF FINANCIAL OFFICER, THE DRAFT 990 IS PROVIDED TO EACH TRUSTEE FOR REVIEW AND COMMENTS IN ADVANCE OF THE FILING DEADLINE. ONCE THE TRUSTEES HAVE HAD TIME TO REVIEW THE RETURN, THE FORM 990 IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY CONFLICT-OF-INTEREST FORMS ARE COMPLETED BY EACH TRUSTEE AND OFFICER DISCLOSING CIRCUMSTANCES THAT MIGHT DISSUADE THEM FROM ACTING IN THE BEST INTEREST OF WEST CHESTER UNIVERSITY FOUNDATION. IN ADDITION, TRUSTEES SHALL MAKE PROMPT AND FULL DISCLOSURE TO THE BOARD OF A PROSPECTIVE SITUATION THAT MAY INVOLVE A CONFLICT OF INTEREST AS SOON AS THAT CONFLICT IS KNOWN. THIS DISCLOSURE SHOULD BE MADE A MATTER OF THE RECORD, EITHER THROUGH AN ANNUAL PROCEDURE OR WHEN THE INTEREST BECOMES A MATTER OF BOARD ACTION. IF A CONFLICT OF INTEREST SHOULD ARISE, THE CEO AND THE BOARD MEMBER SHOULD PROMPTLY RESOLVE THE MATTER AND THE RESOLUTION SHOULD BE RECORDED IN THE MINUTES OF THE BOARD. TRUSTEES WITH CONFLICTS SHALL REMOVE THEMSELVES FROM NEGOTIATIONS, DECISIONS, DELIBERATIONS, OR VOTES INVOLVING THE CONFLICT. THIS SHALL NOT BE CONSTRUED AS PREVENTING THE TRUSTEE FROM STATING HIS POSITION IN THE MATTER OR FROM ANSWERING PERTINENT QUESTIONS FROM THE BOARD WHEN HIS/HER KNOWLEDGE MAY BE OF ASSISTANCE. FAMILY AND BUSINESS RELATIONSHIPS ARE EXPLICITLY MENTIONED IN THE POLICY AS SOURCES OF POTENTIAL CONFLICTS. MANAGERS AND EMPLOYEES ARE EXPECTED TO VOLUNTEER CONFLICTS OF INTEREST AS THEY ARISE TO THE CEO. THE CEO DETERMINES WHETHER A CONFLICT OF INTEREST EXISTS, AND REQUESTS THE MANAGER OR EMPLOYEE TO RECUSE HIMSELF FROM TOPICS AND VOTING ON ISSUES RELATED TO THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S COMPENSATION IS APPROVED IN ADVANCE BY THE BOARD OF TRUSTEES' GOVERNANCE AND NOMINATING COMMITTEE. PRIOR TO MAKING THE DETERMINATION, THE COMMITTEE OBTAINS COMPENSATION DATA OF AT LEAST THREE COMPARABLE ORGANIZATIONS IN SIMILAR COMMUNITIES FOR SIMILAR SERVICE. IN ADDITION, BOARD MEMBERS ARE INVITED TO OFFER FEEDBACK TO THE COMMITTEE ON THE PERFORMANCE-BASED GOALS ESTABLISHED FOR THE POSITION. THE COMMITTEE DOCUMENTS THE BASIS FOR ITS DECISION CONCURRENTLY WITH MAKING THE DETERMINATION. COMPENSATION IS DEFINED IN THE CEO'S THREE-YEAR EMPLOYMENT CONTRACT. IN SEPTEMBER 2018, A ONE-YEAR CONTRACT WAS EXECUTED FOR THE PERIOD SEPTEMBER 1, 2018 THROUGH AUGUST 31, 2019 AND AMENDED ON JULY 1, 2019 TO EXTEND THROUGH JUNE 30, 2021. THE CHIEF FINANCIAL OFFICER AND OTHER KEY EMPLOYEE COMPENSATION IS EVALUATED BY THE BOARD AS PART OF THE PROCESS USED TO DETERMINE THE COMPENSATION FOR THE ORGANIZATION'S EMPLOYEES. 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. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 138,724. UNCOLLECTIBLE PLEGES -44,143. UNIVERSITY STUDENT HOUSING LLC PO BOX 541 WEST CHESTER PA 19381 820571540 STUDENT HOUSING PA 501(C)(3) LINE 12A, I WEST CHESTER UNIVERSITY FOUNDATION 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 UNIVERSITY STUDENT HOUSING LLC D 68346 COST UNIVERSITY STUDENT HOUSING LLC O 200000 COST UNIVERSITY STUDENT HOUSING LLC Q 417960 COST UNIVERSITY STUDENT HOUSING 202 CARTER DRIVE WEST CHESTER PA 19382 820571540 0 0 0 0 0 0 0 0 0 0