2021-05-17T11:12:05-05:00 2020-06-30 010523282 Berry Dunn McNeil & Parker LLC PO BOX 1100 Portland ME 041011100 990 2019-07-01 016011501 University of Maine Foundation UNIV 2075815100 Two Alumni Place Orono ME 044695792 Jeffery Mills President/CEO 2075815100 2021-05-14 1 Joseph R Byrne P01289281 2077752387 2021-05-14 2019 2022-09-23 18:48:47Z Jeffery Mills Two Alumni Place Orono ME 044695792 43419858 0 X www.umainefoundation.org X 1934 ME Fundraising and endowment management for the benefit of the University of Maine 7 7 45 50 -68260 -68260 17509396 22662424 3667661 3652528 7685134 3456532 382940 187574 29245131 29959058 12931012 14544236 0 0 3887797 4363354 0 0 3331780 2765600 2720485 19584409 21628075 9660722 8330983 272934290 282791391 6261074 6987204 266673216 275804187 The University of Maine Foundation, acting as a separate organization, will work collaboratively with all entities to encourage philanthropic support for the University of Maine and other charitable organizations while carrying out the donor's wishes in perpetuity. 0 0 14754868 13596392 3652528 Gifts and endowment income distributed for scholarships and general support for the benefit of the University of Maine 334863 Distributions to trust, gift annuity and pooled income fund participants 967844 947844 Distributions of gifts and endowment income to other qualified charities 16057575 1 1 0 0 0 1 0 1 1 1 1 1 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 X 94 0 1 45 1 0 1 CJ VI BD 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA KY MD MA MI MN NH NJ NY OR SC UT X X Jeffery Mills 2075815100 Two Alumni Place Orono ME 04469 Robert A Strong Chair 1.00 0.00 X X 0 0 0 Donna L Hathaway Vice Chair 1.00 0.00 X X 0 0 0 Dorothy Ferris Director 1.00 0.00 X 0 0 0 Eldon L Morrison Director 1.00 0.00 X 0 0 0 Henry LP Schmelzer Director 1.00 0.00 X 0 0 0 Kenneth Murray Director 1.00 0.00 X 0 0 0 Todd Saucier Director 1.00 0.00 X 0 0 0 Edward J Keefe Past Vice Chair 1.00 0.00 X X 0 0 0 Trish Riley Past Director 1.00 0.00 X 0 0 0 Kurt R Marston Treasurer 1.00 0.00 X 0 0 0 Maria R Fuentes Secretary 1.00 0.00 X 0 0 0 David M Austin Past Secretary 1.00 0.00 X 0 0 0 Jeffery N Mills President & CEO 40.00 0.00 X 312639 0 48500 Kevin J Frazier CFO 40.00 0.00 X 162106 0 41204 Elizabeth M Erikson Senior Director of Philanthropy 40.00 0.00 X 128231 0 38826 Monique Hashey Director of Marketing 40.00 0.00 X 104091 0 40411 Patricia A Cummings Senior Director of Philanthropy 40.00 0.00 X 143279 0 25653 Sarah J McPartland-Good General Counsel 40.00 0.00 X 140852 0 44046 Seth Woodcock Associate Athletic Director 40.00 0.00 X 120180 0 12004 1111378 0 250644 8 0 1 0 Cambridge Associates LLC 125 High Street Boston MA 021102110 Investment Consultant 313524 1 22662424 1048493 22662424 Advancement Svcs. Agreement Rev. 900099 3652528 3652528 3652528 3664021 -68260 3732281 13076675 176636 13283422 177378 -206747 -742 -207489 -207489 Other Revenue 900099 187574 187574 187574 29959058 3652528 -68260 3712366 14544236 14544236 564449 122169 99253 343027 2699801 584342 474736 1640723 314555 68082 55312 191161 566098 122526 99543 344029 218451 47281 38413 132757 2619 2619 26999 26999 1267922 1267922 17178 3718 3021 10439 234179 50686 41178 142315 211003 45669 37103 128231 243009 52597 42731 147681 106880 23133 18794 64953 27109 5868 4767 16474 54899 11882 9654 33363 56964 12329 10017 34618 Life Income Participant 334863 334863 Fundraising Expenses 79002 79002 Dues & Subscriptions 29094 6297 5116 17681 Miscellaneous Expenses 28765 21897 1542 5326 21628075 16057575 2238720 3331780 X 1675643 2360679 32149105 24108414 11398904 8033793 75337 119122 46914 34207 9367 0 5928428 286916 5953156 5641512 152416365 174746659 58880958 57560635 10328541 10186370 272934290 282791391 1240704 1159218 3029582 3177473 1990788 2650513 6261074 6987204 X 12441375 12994848 254231841 262809339 266673216 275804187 272934290 282791391 X 8330983 805833 -5845 X 0 1 X 1 0 X 10816338 10362089 26139356 17509396 22662424 87489603 10816338 10362089 26139356 17509396 22662424 87489603 7191317 80298286 3105283 2878929 3094741 3470959 3664021 16213933 591800 450045 262162 382940 187574 1874521 105578057 16905849 0.76060 0.79850 X Schedule A, Part II, Line 10, Explanation of Other Income: Other Revenue - 2015 Amount: $ 591,800. 2016 Amount: $ 450,045. 2017 Amount: $ 262,162. 2018 Amount: $ 382,940. 2019 Amount: $ 187,574. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10 892551 933535 1149574 1 1 377027 X See Part XIII 1 0 1 X 227085170 7542263 2534235 6183838 2860951 228116879 220678744 9524762 6630029 6193943 3554422 227085170 203012301 10364631 15449801 5630457 2517532 220678744 179886988 7734016 22774041 4907568 2475176 203012301 185612561 11253104 -7007175 7655696 2315806 179886988 0.03140 0.74620 0.22240 0 0 5526230 5526230 402198 286916 115282 5641512 Hedge Funds, Private Equity, and Venture Capital 57560635 F 57560635 Distributions Due to Life Income Beneficiaries 1931913 CARES Act Funding 718600 2650513 29491124 805833 805833 28685291 1267922 5845 1273767 29959058 20360153 0 20360153 1267922 1267922 21628075 Part III, Line 4: The Foundation's collections are held for sale and the proceeds are used to further benefit the University of Maine. The Foundation's collections consist of various paintings, china and silver, jewelry and a Hummell collection. Part IV, Line 2b: Custodial accounts consist of funds of other qualified charities held at the Foundation for investment administrative purposes. Part V, Line 4: The Foundation aims to protect the purchasing power of the endowment by providing a rate of growth to keep pace with inflation and pay out an adequate amount of income to support the purpose of the endowment (scholarships, research, professorships, and other needs). Part XI, Line 4b - Other Adjustments: Decrease in Cash Surrender Value of Life Insurance 5,845. Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 Investments 38611025 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium 0 0 Investments 5384013 0 0 0 0 0 0 43995038 0 43995038 1 0 1 1 0 0 Part III Accounting Method: 1 Green Street United Methodist Church 13 Green Street Augusta ME 04330 016000570 501(c)(3) 29640 0 General Kents Hill School PO Box 257 1614 Main Street Kents Hill ME 04349 010211532 501(c)(3) 19760 0 General Town of Searsmont PO Box 56 Searsmont ME 04973 010390148 Searsmont, Maine 8979 0 Government United Methodist Church PO Box 33 Searsmont ME 04973 016013581 501(c)(3) 17958 0 General United Way of Kennebec Valley 121 Commercial Street Augusta ME 04330 016004404 501(c)(3) 49400 0 General Hazardville United Methodist Church 330 Hazard Ave Enfield ME 06082 060787160 501(c)(3) 19760 0 General Kennebec Historical Society PO Box 5582 Augusta ME 04332 237134457 501(c)(3) 19760 0 General Maine General Health PO Box 828 Waterville ME 04903 320265031 501(c)(3) 19760 0 General TMS Global PO Box 936559 Atlanta GA 31193 581546441 501(c)(3) 365560 0 General Kennebec Valley YMCA 31 Union Street Augusta ME 04330 010211811 501(c)(3) 128440 0 General Ahavas Achim Society of Brotherly Love 674 Mt Hope Avenue Ste 1 Bangor ME 04401 016010406 501(c)(13) 10000 0 General Chop Point Christian Camp & School 420 Chopps Point Road Woolrich ME 04579 237027179 501(c)(3) 49400 0 General Christian Education Christian League PO Box 5459 Augusta ME 04332 016018966 501(c)(3) 29640 0 General University of Maine University of Maine System Orono ME 04469 016000769 501(c)(3) 9527984 0 General University of Maine University of Maine System Orono ME 04469 016000769 501(c)(3) 4068408 0 Gifts transferred to University pursuant to the development service agreement. 14 1 Part I, Line 2: The Foundation monitors the use of University grant funds by conducting an internal audit on a group of randomly selected funds each year. During the fiscal year audit the auditors conduct an independent review of a random group of funds. X X X 0 0 0 0 0 0 0 1 0 Jeffery N Mills President & CEO 280848 0 27470 0 4321 0 47000 0 1500 0 361139 0 0 0 Kevin J Frazier CFO 150180 0 10960 0 966 0 16722 0 24482 0 203310 0 0 0 Elizabeth M Erikson Senior Director of Philanthropy 113565 0 8208 0 6458 0 13192 0 25634 0 167057 0 0 0 Patricia A Cummings Senior Director of Philanthropy 125378 0 9354 0 8547 0 14619 0 11034 0 168932 0 0 0 Sarah J McPartland-Good General Counsel 127122 0 9354 0 4376 0 14573 0 29473 0 184898 0 0 0 Part I, Line 7 Jeffery Mills, Kevin Frazier, Patricia A. Cummings, Sarah McPartland-Good, Elizabeth Erickson, Monique Hashey, and Terri Beyer receive bonus compensation contingent upon meeting both individual and organizational goals. The goals are not contingent upon the net earnings or revenues of the Organization. X 78 1046995 FMV X Life Insurance 1 1498 CSV 0 0 1 1 Part I, Line 32b: The Foundation uses third parties who are professionals for the sale of non-cash contributions such as art and securities. Form 990, Part VI, Section A, line 6 The Foundation has members. Form 990, Part VI, Section A, line 7a The Foundation is governed by membership which elects directors. Form 990, Part VI, Section A, line 7b The Foundation is governed by membership which elects directors. Form 990, Part VI, Section B, line 11b The information is provided to the preparer by the Manager of Accounting. A draft is completed, reviewed by the Manager of Accounting, the CFO, and President/CEO. A draft is also sent to all board members who are given a set amount of time to review and comment, typically two weeks. Form 990, Part VI, Section B, line 12c All new employees, board, and investment committee members complete and sign a conflict of interest disclosure statement. Any real or potential conflict is monitored and enforced in accordance with the conflict of interest policy. Form 990, Part VI, Section B, line 15 The Chair of the board reviews organization and personal goals and makes recommendations for executive compensation (President/CEO) to the board of directors after it has been reviewed by the budget committee. The budget committee of the University of Maine Foundation has established the following criteria for the process and evaluation: A. Approval by independent governing board in advance, composed entirely of individuals who do not have a conflict of interest. The President/CEO is not present at meetings. B. Reliance on comparable data through compensation surveys compiled by independent firms. C. Document basis for determination in committee and board meeting minutes. Minutes reflect the terms of the transaction, date of approval, members of the governing board who were present and voted, the data used from the compensation surveys and peer institutions and how the data was obtained. The determination is summarized in a letter from the board Chair to the President/CEO of The Foundation before any compensation is paid. Form 990, Part VI, Section C, line 19 Audited financial statement, Form 990, donor bill of rights, and The Foundation's confidentiality policy is found on our website, umainefoundation.org. A complete copy of the by-laws and conflict of interest policy are available upon request. Form 990, Part X, Line 10: Land, Buildings, and Equipment Section 1.263(a)-3(n) Election: University of Maine Foundation Two Alumni Place Orono, ME 04469-5792 EIN 01-6011501 University of Maine Foundation is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n). Form 990, Part XI, line 9: Decrease in Cash Surrender Value of Life Insurance -5,845. Pooled Income Funds (2) Two Alumni Place Orono ME 04469 Split Interest Trust ME T 1011126 0 Charitable Lead Trusts (6) Two Alumni Place Orono ME 04469 Split Interest Trust ME T 1910339 0 Charitable Remainder Trusts (18) Two Alumni Place Orono ME 04469 Split Interest Trust ME T 3639683 0 Charitable Perpetual Trusts (6) Two Alumni Place Orono ME 04469 Split Interest Trust ME T 1243764 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 Charitable Lead Trusts (6) S 73754 Annuity/Trust Payments Charitable Remainder Trusts (18) S 249278 Remainder Interest