2021-05-05T10:29:19-05:00 2020-06-30 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2019-07-01 346555110 THE UNIVERSITY OF TOLEDO FOUNDATION UNIV 4195307730 4510 DORR ST MS 820 TOLEDO OH 43615 BRENDA LEE PRESIDENT 4195307730 2021-03-29 1 KAREN GRIES P00078514 6123764500 2021-03-29 2019 2022-09-23 18:48:47Z BRENDA LEE 4510 DORR ST MS 820 TOLEDO OH 43615 173313852 0 X WWW.UTFOUNDATION.ORG X 1964 OH IN SUPPORT OF THE UNIVERSITY OF TOLEDO AND THE STUDENTS OF THE UNIVERSITY. 25 25 172 25 -371413 0 16676904 14356938 3051190 3119514 11186299 20113976 721828 216402 31636221 37806830 16196621 14934228 0 0 4748708 5781045 0 137050 4203859 2816396 1952006 23761725 22804329 7874496 15002501 570785063 551844230 230782857 219017387 340002206 332826843 X THE MISSION OF THE UNIVERSITY OF TOLEDO FOUNDATION IS TO SECURE THE FUTURE FOR THE UNIVERSITY OF TOLEDO, THROUGH PRUDENT ASSET MANAGEMENT AND PHILANTHROPY. WE BUILD STRONG LINKAGES BETWEEN ALUMNI AND THE UNIVERSITY, FOSTERING A SPIRIT OF LOYALTY AND OPPORTUNITY FOR ENGAGEMENT. 0 0 5028204 5028204 0 SCHOLARSHIPS ARE PROVIDED FOR BOOKS, TUITION, AND HOUSING FOR STUDENTS ATTENDING THE UNIVERSITY OF TOLEDO. 9906024 9906024 0 SUPPORT TO THE UNIVERSITY OF TOLEDO FOR ITEMS FOR EDUCATIONAL, ATHLETIC, AND CAPITAL IMPROVEMENT PURPOSES. 298715 0 2559514 SUPPORT OF THE UNIVERSITY OF TOLEDO IN THEIR CHARITABLE PURPOSE 15232943 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 0 0 1 0 1 1 1 1 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 0 1 103 7 1 172 1 1 1 0 0 0 1 1 1 1 1 2 0 0 0 0 0 X 25 25 0 0 0 0 1 1 0 1 0 0 0 1 1 1 1 1 1 1 1 1 1 CA CO FL KY MA MD MI MN NH NJ OH OR UT WA WV NY SC AL AR GA HI IL KS MS NC ND NM OK PA RI TN VA WI X DONNA WELCH 4195307730 4510 DORR ST MS 820 TOLEDO OH 43615 BRENDA S LEE PRESIDENT 35.00 5.00 X 238986 0 30385 CHERYL ZWYER SENIOR ASSOCIATE VP OF DEV 40.00 0.00 X 203027 0 23319 BRETT LONEY ASSOCIATE VP OF DEVELOPMENT 40.00 0.00 X 157437 0 28283 DONNA WELCH VP OF FINANCE AND CFO 35.00 5.00 X 149225 0 24841 BARBARA TARTAGALIA-POURE EXECUTIVE DIRECTOR OF DEV 40.00 0.00 X 150682 0 13373 KIRK ROSS DIRECTOR OF PLANNED GIVING 40.00 0.00 X 125491 0 28994 WILLIAM PIERCE ASSOCIATE VP OF ALUMNI ENGAGEMENT 40.00 0.00 X 121939 0 25735 MARK LUETKE CHAIR 1.00 0.00 X X 0 0 0 JOHN HUBER VICE-CHAIR 1.00 0.00 X X 0 0 0 JENNIFER SCROGGS TREASURER 1.00 0.00 X X 0 0 0 SUSAN FARRELL PALMER SECRETARY 1.00 0.00 X X 0 0 0 JAMES APPOLD TRUSTEE 1.00 0.00 X 0 0 0 JAMES BECKMAN TRUSTEE 1.00 0.00 X 0 0 0 MICHAEL BELL TRUSTEE 1.00 0.00 X 0 0 0 NEEMA BELL TRUSTEE 1.00 0.00 X 0 0 0 SHERI BOKROS TRUSTEE 1.00 0.00 X 0 0 0 JAMES CALDWELL TRUSTEE 1.00 0.00 X 0 0 0 CHRISTY CONTARDI STONE TRUSTEE 1.00 0.00 X 0 0 0 MUI-LING Y DONG TRUSTEE 1.00 0.00 X 0 0 0 LAVELLE EDMONDSON TRUSTEE 1.00 0.00 X 0 0 0 DANA FITZSIMMONS TRUSTEE 1.00 0.00 X 0 0 0 GARY LEIDICH TRUSTEE 1.00 0.00 X 0 0 0 JONATHAN LYONS TRUSTEE 1.00 0.00 X 0 0 0 GERALD MILLER TRUSTEE 1.00 1.00 X 0 0 0 RUSSELL MITCHELL TRUSTEE 1.00 0.00 X 0 0 0 SUSAN PAYDEN TRUSTEE 1.00 0.00 X 0 0 0 TERRENCE PERRIS TRUSTEE 1.00 0.00 X 0 0 0 STEVEN REINBOLT TRUSTEE 1.00 1.00 X 0 0 0 NADEEM SALEM TRUSTEE 1.00 0.00 X 0 0 0 PAUL TOTH JR TRUSTEE 1.00 1.00 X 0 0 0 THOMAS WAKEFIELD TRUSTEE 1.00 0.00 X 0 0 0 CONSTANCE ZOUHARY TRUSTEE 1.00 0.00 X 0 0 0 ROBIN WHITNEY EX-OFFICIO ALUMNI PRESIDENT 1.00 0.00 X 0 0 0 1146787 0 174930 8 0 1 0 THE LATHROP COMPANY 28 N ST CLAIR STREET SUITE 200 TOLEDO OH 43604 CONSTRUCTION FOR PARKING LOT AT CADE 546102 ARAMARK 1101 MARKET STREET PHILADELPHIA PA 19107 CADE CAFE CONTRACTOR 218733 HOLLAND INC BUILDING SERVICES 458 SECOND STREET TOLEDO OH 43605 CADE BUILDING MAINT/CLEANING 197512 RUFFALO NOEL LEVITZ 1025 KIRKWOOD PKWY SW CEDAR RAPIDS IA 52404 ENROLLMENT AND FUNDRAISING CONSULTANT 194448 SENTINEL TECHNOLOGIES 6675 S KENTON ST 105 CENTENNIAL CO 80111 CADE HUBS AND SWITCHES FOR DATA NETWORK 186141 9 122309 14234629 7224817 14356938 ADMINISTRATIVE FEE 523930 3119514 3119514 3119514 5224778 -361494 5586272 1873066 2887619 -1014553 -1014553 -683669 -6780 -324104 143304639 128415441 14889198 14889198 14889198 76802 122309 80175 -3373 -3373 53675 15717 37958 37958 4549264 4108070 441194 -3139 444333 EVENTS 900099 504819 504819 MEMBERSHIPS AND DUES 900099 123669 123669 MISCELLANEOUS INCOME 900099 81391 81391 45297 45297 755176 37806830 2559514 -371413 21261791 9906024 9906024 4738344 4738344 289860 289860 441692 441692 4162360 1302648 2859712 302945 113974 188971 554164 173847 380317 319884 117004 202880 40848 40848 68803 68803 137050 137050 641705 641705 157907 115686 42221 180486 86370 15396 78720 125550 125225 325 42116 42116 73728 128 73600 221950 22809 51164 147977 64183 64183 22904 22904 DUES AND SUBSCRIPTIONS 138286 62418 75868 MISCELLANEOUS 77383 61165 16218 LIFE INSURANCE 77257 77257 EQUIPMENT/SUPPLIES 18900 18900 22804329 15232943 3367527 4203859 788742 5296882 13096837 11764774 1306345 822686 8303504 8303504 84606 74947 49497787 5275009 44290937 44222778 362098249 357079427 140487545 124043815 328298 235417 570785063 551844230 1823375 1122855 39688 54923 9072012 8767143 905000 219847782 208167466 230782857 219017387 X 53309368 50683309 286692838 282143534 340002206 332826843 570785063 551844230 X 15002501 -21574635 -603229 X X 0 1 X 1 0 X 14947397 12417630 40804854 16676904 14356938 99203723 14947397 12417630 40804854 16676904 14356938 99203723 28469346 70734377 4569095 3798579 5097651 6162346 5313243 24940914 -402706 -472809 -268572 -1144087 7507348 6821502 6621478 6079167 5208097 32237592 155238142 20245182 0.45570 0.45520 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 251619939 1769811 -1677810 6663061 2871102 242177777 246661888 4408310 6963913 3701607 2712565 251619939 235547880 2106781 16070857 4475411 2588219 246661888 213972927 4870490 25317737 6008370 2604904 235547880 223834461 5693841 -9059947 3928268 2567160 213972927 0.03940 0.54700 0.41360 0 0 5323851 5323851 42868750 4350698 38518052 1046006 924311 121695 259180 259180 44222778 42749693 F CHARITABLE REMAINDER TRUSTS AND LIFE INCOME FUND 3948394 F CASH VALUE OF LIFE INSURANCE 1286055 F REAL ESTATE AND OTHER 593476 F PARTNERSHIPS 73387333 F GATEWAY 2078864 F 124043815 ANNUITIES PAYABLE 4813678 GATEWAY FUNDING FROM POOLED INVESTMENTS 2078864 FUNDS HELD OF AFFILIATES 201274924 208167466 X PART V, LINE 4: THE ENDOWMENT FUNDS ARE TO BE USED TO PROMOTE THE CHARITABLE PURPOSES OF THE UNIVERSITY OF TOLEDO FOUNDATION. PART X, LINE 2: THE FOUNDATION IS INCORPORATED UNDER THE LAWS OF THE STATE OF OHIO AS A NONPROFIT CORPORATION AND IS EXEMPT FROM STATE AND LOCAL INCOME TAXES. THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE FOUNDATION IS A TAX-EXEMPT ORGANIZATION AS DEFINED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. OTHER SUBSIDIARIES OF THE FOUNDATION ARE INCORPORATED IN THE STATE OF OHIO AS LIMITED LIABILITY COMPANIES AND MAY CAUSE THE FOUNDATION TO BE SUBJECT TO UNRELATED BUSINESS INCOME TAX ON CERTAIN ACTIVITIES UNRELATED TO ITS PRIMARY MISSION. MANAGEMENT HAS ESTIMATED POTENTIAL LIABILITY TO UNRELATED BUSINESS INCOME TAX TO BE NOMINAL. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE FOUNDATION AND RECOGNIZE A TAX LIABILITY IF THE FOUNDATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION AND HAS CONCLUDED THAT AS OF JUNE 30, 2020 AND 2019, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. 0 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENT 43276000 0 0 0 0 0 0 43276000 0 43276000 SCHOLARSHIP SCHOLARSHIPS - TUITION/BOOKS 208 289860 DIRECT PAYMENT N/A N/A 0 0 1 0 1 0 PART III ACCOUNTING METHOD: X X X X X X 1 RUFFALO NOEL LEVITZ LLC PO BOX 718 DES MOINES IA 50303 CONSULTS ON AND MANAGES PHONE SOLICITATION PROGRAM 0 195513 137050 58463 195513 137050 58463 AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY ROCKET ROUNDBALL 69700 53000 16700 150 12678 MEDICINE BALL 46551 13180 33371 20915 550 6372 8 82860 56129 26731 780 12920 17451 1350 7009 199111 122309 76802 780 33835 17601 1900 26059 80175 -3373 53675 7908 7809 0 53675 7908 7809 15717 37958 OH 0 PURSUANT TO ORC 2915.092, THE ORGANIZATION MAY CONDUCT A RAFFLE TO RAISE MONEY FOR A SUPPORTED ORGANIZATION AND DOES NOT NEED A LICENSE IN ORDER TO CONDUCT A RAFFLE DRAWING THAT IS NOT FOR PROFIT. 0 0 0 1.00000 DONNA WELCH VP OF FINANCE CFO 4510 DORR ST MS 820 TOLEDO OH 43615 0 0 SCHEDULE G, PART I, LINE 2B, COLUMN (V) THE FOUNDATION HAS A CONTRACT WITH RUFFALO NOEL LEVITZ, LLC (RNL) FOR FUNDRAISING CONSULTING SERVICES. THE FOUNDATION ALSO PAID RNL FOR EQUIPMENT AND POSTAGE. 1 UNIVERSITY OF TOLEDO 2801 W BANCROFT MS 319 TOLEDO OH 43606 346401483 115 9906024 N/A N/A TO SUPPORT THE UNIVERSITY OF TOLEDO IN ITS EXEMPT PURPOSE 1 0 SCHOLARSHIPS - TUITION/BOOKS 2293 4738344 N/A N/A PART I, LINE 2: THE UNIVERSITY OF TOLEDO FOUNDATION'S PRIMARY MISSION IS TO RECEIVE AND ADMINISTER PRIVATE GIFTS FOR THE BENEFIT OF THE UNIVERSITY OF TOLEDO. THE FOUNDATION PROVIDES ASSISTANCE FOR THE UNIVERSITY, STUDENT PROGRAMS AND FINANCIAL AID. THE FOUNDATION PROVIDES FUNDING TO THE UNIVERSITY OF TOLEDO FOR UNIVERSITY AND STUDENT PROGRAMS ON A REIMBURSEMENT BASIS. UNIVERSITY DEPARTMENT OFFICIALS REQUEST FUNDS THROUGH THE COMPLETION OF THE PROPER FORMS ACCOMPANIED BY SUFFICIENT SUPPORTING DOCUMENTATION. THE FOUNDATION REVIEWS THE FORMS AND DOCUMENTATION TO ENSURE COMPLIANCE WITH DONOR RESTRICTIONS AND FOUNDATION POLICIES AND PROCEDURES. ALL DISBURSEMENTS ARE THEN APPROVED BY THE PRESIDENT OR THE VP AND CFO. THE FOUNDATION ISSUES ASSISTANCE (GRANTS) TO CERTAIN STUDENTS OF THE UNIVERSITY OF TOLEDO FOR SCHOLARSHIPS AND STUDENT AID. THE STUDENTS ARE AWARDED THESE GRANTS THROUGH THE UNIVERSITY OF TOLEDO FINANCIAL AID DEPARTMENT. THE UNIVERSITY OF TOLEDO FOUNDATION RECEIVES A LISTING OF ALL RECIPIENTS OF THE AWARDS AT THE END OF EACH SEMESTER FROM THE BURSAR OFFICE. THE RECIPIENT INFORMATION IS RECORDED AND RECONCILED IN THE FOUNDATION'S FILES. FUNDS ARE DISBURSED TO THE UNIVERSITY ON A REIMBURSEMENT BASIS AT THE END OF EACH SEMESTER. X X X X 0 0 0 0 0 0 0 0 0 BRENDA S LEE PRESIDENT 226682 0 7500 0 4804 0 16525 0 13860 0 269371 0 0 0 CHERYL ZWYER SENIOR ASSOCIATE VP OF DEV 200000 0 0 0 3027 0 13828 0 9491 0 226346 0 0 0 BRETT LONEY ASSOCIATE VP OF DEVELOPMENT 153125 0 0 0 4312 0 10843 0 17440 0 185720 0 0 0 DONNA WELCH VP OF FINANCE AND CFO 147280 0 0 0 1945 0 10236 0 14605 0 174066 0 0 0 BARBARA TARTAGALIA-POURE EXECUTIVE DIRECTOR OF DEV 147530 0 0 0 3152 0 10548 0 2825 0 164055 0 0 0 KIRK ROSS DIRECTOR OF PLANNED GIVING 121500 0 0 0 3991 0 8563 0 20431 0 154485 0 0 0 X 53808 COST X 104 6602182 SELLING PRICE X 1 562000 SELLING PRICE X OTHER EQUIPMENT 1 6826 REPLACEMENT COST 2 0 1 0 PART I, COLUMN (B): NUMBER OF CONTRIBUTIONS USED IN PART I. FORM 990, PART VI, SECTION A, LINE 6 PER THE CODE OF REGULATIONS, THE TRUSTEES OF THE FOUNDATION CONSTITUTE BOTH ITS MEMBERSHIP AND ITS GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7A PER THE CODE OF REGULATIONS, THE ELECTION OF TRUSTEES SHALL BE HELD AT THE ANNUAL OR SPECIAL MEETING OF THE MEMBERS. THE MEMBERS ALSO ELECT A COMMITTEE OF TRUSTEES WHICH DETERMINES THE MOST EFFECTIVE COMPOSITION OF THE BOARD IN SUPPORT OF THE STRATEGIES OF THE FOUNDATION. THE COMMITTEE OF TRUSTEES SHALL HAVE THE SOLE CAPACITY AND RESPONSIBILITY FOR NOMINATING TRUSTEES TO BE ELECTED AT THE NEXT ANNUAL MEETING. THE COMMITTEE SHALL CONSIST OF NOT LESS THAN FOUR (4) MEMBERS OF THE FOUNDATION. FORM 990, PART VI, SECTION A, LINE 8B THE GOVERNING BODY DID NOT DELEGATE AUTHORITY TO A COMMITTEE TO ACT ON BEHALF OF THE GOVERNING BODY DURING THE YEAR. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT PRESENTS THE BOARD OF TRUSTEES - AUDIT AND FINANCE COMMITTEE WITH THE FINAL DRAFT FORM 990 ALONG WITH A LIST OF MANAGEMENT ASSERTIONS REGARDING THE COMPLETENESS AND ACCURACY OF THE FORM AND THE EXISTENCE OF THE POLICIES AND PROCEDURES DOCUMENTED IN FORM 990. THE AUDIT AND FINANCE COMMITTEE IS CHARGED TO PROVIDE THE REVIEW AND APPROVAL FUNCTION OF FORM 990 FOR THE BOARD OF TRUSTEES. THE FINAL APPROVED FORM 990 IS PROVIDED TO ALL MEMBERS OF THE BOARD OF TRUSTEES FOR COMMENT BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, THE MEMBERS OF THE BOARD OF TRUSTEES FOR THE UNIVERSITY OF TOLEDO FOUNDATION ARE REQUIRED TO COMPLETE TRUSTEE DISCLOSURE STATEMENTS WHICH AFFIRMS EACH MEMBER RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY, AND AGREES TO COMPLY WITH THE POLICY. TRUSTEES ARE REQUIRED TO DISCLOSE ANY FAMILY AND BUSINESS RELATIONSHIPS, FINANCIAL INTEREST, AND THE STATUS OF THEIR INDEPENDENCE. TRUSTEES ARE ALSO REQUESTED BY THE BOARD OR COMMITTEE CHAIR TO DISCLOSE ANY ACTUAL OR POSSIBLE CONFLICTS BEFORE VOTING ON MATTERS RELATED TO AWARDING BUSINESS WITH THE FOUNDATION. ALL DISCLOSURE STATEMENTS ARE REVIEWED BY THE COMMITTEE OF TRUSTEES AND MAINTAINED BY THE PRESIDENT OF THE FOUNDATION TO DETERMINE EXISTENCE OF A CONFLICT. ANY DISCLOSED OR IDENTIFIED ACTUAL OR POSSIBLE CONFLICTS ARE DISCUSSED WITH THE CHAIR OF THE BOARD OF TRUSTEES AND MAY BE PRESENTED TO THE EXECUTIVE COMMITTEE FOR DISCUSSION AND RESOLUTION. ANY FINANCIAL INTERESTS DISCLOSED PRIOR TO ACTION BEING TAKEN AT A MEETING SHALL BE DISCUSSED WITH THE INTERESTED PERSON. THE REMAINING TRUSTEES OR COMMITTEE MEMBERS SHALL DETERMINE IF A CONFLICT EXISTS BY VOTE, AND THE RESULTS WILL BE RECORDED IN THE MINUTES. THE CHAIR OR COMMITTEE MAY APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE ARRANGEMENT IN QUESTION. THE BOARD OR COMMITTEE WILL EXERCISE DUE DILIGENCE AND DETERMINE IF MORE ADVANTAGEOUS ARRANGEMENTS CAN BE REASONABLY MADE THAT WOULD NOT BE A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS OPTION IS NOT REASONABLY ATTAINABLE, THE BOARD OR COMMITTEE WILL DETERMINE BY MAJORITY VOTE IF THE ARRANGEMENT IN QUESTION IS IN THE BEST INTEREST OF THE FOUNDATION AND IF IT IS FAIR AND REASONABLE. MEMBERS THAT FAIL TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST WILL BE AFFORDED THE OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. THE BOARD OR COMMITTEE MAY CONDUCT FUTHER INVESTIGATION IF WARRANTED. THE BOARD OR COMMITTEE WILL THEN DETERMINE WHETHER A FAILURE TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST RESULTS IN DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15 ANNUALLY, THE ORGANIZATION AND COMPENSATION COMMITTEE OF THE UTF BOARD OF DIRECTORS ("COMMITTEE") WILL REVIEW THE COMPONENTS OF THE COMPENSATION PROGRAM AND RECOMMEND PROGRAM MODIFICATIONS AS APPROPRIATE TO THE EXECUTIVE COMMITTEE OF UTF. EVERY THREE TO FIVE YEARS, THE COMMITTEE WILL ENGAGE A PROFESSIONAL SERVICE FIRM TO PERFORM A COMPLETE REVIEW OF THE TOTAL COMPENSATION STRUCTURE TO ENSURE THAT IT IS COMPETITIVE. THE COMMITTEE CONSIDERS ALL APPLICABLE FACTORS WHEN DETERMINING MARKET COMPARATORS, INCLUDING A NATIONAL, REGIONAL AND/OR LOCAL PEER GROUP OF ORGANIZATIONS COMPARABLE TO UTF IN SIZE (I.E., NET REVENUES, FTES, BUDGET AND ASSETS UNDER MANAGEMENT) AND COMPLEXITY TO DETERMINE THE MARKET VALUES OF POSITIONS. THE EXECUTIVE COMMITTEE IS AUTHORIZED TO ACT ON THE BOARD'S BEHALF IN (I) DETERMINING APPROPRIATE COMPENSATION FOR UTF'S EXECUTIVES AND OTHER DISQUALIFIED PERSONS; (II) EVALUATING EXECUTIVES AND OTHER DISQUALIFIED PERSONS' COMPENSATION PLANS, POLICIES, AND PROGRAMS; (III) REVIEWING BENEFIT PLANS FOR EXECUTIVES AND OTHER DISQUALIFIED PERSONS; AND (IV) VERIFYING THAT COMPENSATION INFORMATION IS APPROPRIATELY AND FULLY DISCLOSED. THE EXECUTIVE COMMITTEE IS MADE UP OF INDEPENDENT PERSONS AND ALL DISCUSSIONS AND ACTIONS OF THE COMMITTEE ARE DOCUMENTED IN MINUTES OR OTHER RECORDS OF THE COMMITTEE. A REVIEW OF ALL POSITION SALARY RANGES WAS CONDUCTED IN NOVEMBER OF 2018 BASED ON INDUSTRY INFORMATION AND SURVEYS BY INDEPENDENT SOURCES IN CONJUCTION WITH INDIVIDUAL GOALS AND OBJECTIVES. THE REVIEW WAS CONDUCTED BY FINDLEY DAVIES. FORM 990, PART VI, SECTION C, LINE 19 AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE UNIVERSITY OF TOLEDO FOUNDATION'S WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE -41,229. CAPITAL TRANSFER WITHOUT DONOR RESTRICTIONS -562,000. FORM 990, PART XII, LINE 2C THE PROCESS FOR OVERSEEING AND SELECTING AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. UTF GATEWAY INVESTMENTS 4510 DORR ST MS 820 TOLEDO OH 43615 451199001 STUDENT HOUSING/RETAIL OH 1526998 15489587 UNIVERSITY OF TOLEDO FOUNDATION THE UNIVERSITY OF TOLEDO REAL ESTATE CORP 4510 DORR ST MS 820 TOLEDO OH 43615 300023422 ACQUIRES AND HOLDS TITLE TO REAL PROPERTY FOR THE BENEFIT OF THE UNIVERSITY OH 501(C)(25) THE UNIVERSITY OF TOLEDO FOUNDATION 1 0 0 0 1 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 THE UNIVERSITY OF TOLEDO REAL ESTATE CORP D 8303504 ACTUAL COSTS INCURRED