2021-10-29T14:50:00-05:00 2021-06-30 251622758 MAHER DUESSEL CPA'S 503 MARTINDALE STREET SUITE 600 PITTSBURGH PA 15212 990 2020-07-01 256087074 THE FOUNDATION FOR INDIANA UNIVERSITY OF PENNSYLVANIA (IUP) FOUN 7243573184 1011 SOUTH DRIVE INDIANA PA 15705 ELIZABETH LAUBER EXECUTIVE DIRECTOR 7243573184 2021-10-29 1 ELIZABETH LAUBER 999009999 ELIZABETH E KRISHER P10275616 4124715500 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z ELIZABETH LAUBER 1011 SOUTH DRIVE INDIANA PA 15705 22299319 0 X WWW.IUP.EDU/FOUNDATION X 1967 PA TO PROVIDE PHILANTHROPIC SUPPORT TO INDIANA UNIVERSITY OF PENNSYLVANIA. 15 15 7 18 0 0 4840202 4512719 18329220 12140711 5693192 4927272 719545 669685 29582159 22250387 6276454 7828677 0 0 2448763 1852770 0 0 355358 34305540 16150758 43030757 25832205 -13448598 -3581818 229193892 245285090 181826240 172380219 47367652 72904871 TO PROVIDE PHILANTHROPIC SUPPORT TO INDIANA UNIVERSITY OF PENNSYLVANIA. 0 0 15685511 407713 11394343 THE FOUNDATION FOR IUP OWNS AND RENTS RESIDENTIAL HOUSING TO STUDENTS OF IUP. 6513895 6513895 PROVIDES SCHLOLARSHIPS AND AWARDS TO STUDENTS OF IUP. 1752741 485066 1428075 PROVIDES EDUCATIONAL SUPPORT TO VARIOUS COLLEGES AND DEPARTMENTS AT IUP. 23952147 1 1 0 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 0 0 0 0 0 0 1 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 50 0 7 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X ELIZABETH LAUBER 7243573184 1011 SOUTH DRIVE INDIANA PA 15705 SANDRA BARSOTTI DIRECTOR 1.00 1.00 X 0 0 0 DAVID BLUEMLING DIRECTOR 1.00 2.00 X 0 0 0 TIM BURNS DIRECTOR 1.00 1.00 X 0 0 0 RICH CARUSO DIRECTOR 2.00 1.00 X 0 0 0 J THOMAS FRANTZ DIRECTOR 1.00 1.00 X 0 0 0 DIANNE FRYE DELISA DIRECTOR 1.00 1.00 X 0 0 0 JAMES LEDA DIRECTOR 1.00 1.00 X 0 0 0 DAVID MAWHINNEY DIRECTOR 1.00 1.00 X 0 0 0 BRADLEY PETERSON DIRECTOR 1.00 1.00 X 0 0 0 GREGORY STEVE DIRECTOR 1.00 1.00 X 0 0 0 REGINA STOVER VICE PRESIDENT 2.50 1.00 X X 0 0 0 RICK UBINGER DIRECTOR 1.00 1.00 X 0 0 0 TERRY DUNLAP DIRECTOR 1.00 1.00 X 0 0 0 WILLIAM SHIPLEY PRESIDENT 10.00 1.00 X X 0 0 0 DANIEL SARVER SECRETARY/TREASURER 2.50 2.50 X X 0 0 0 RANDY THORNTON DIRECTOR OF FINANCIAL OPS 25.00 15.00 X 72664 0 0 ELIZABETH LAUBER EXECUTIVE DIRECTOR 37.50 7.50 X 124598 0 0 197262 0 0 1 0 0 0 0 83260 4429459 4512719 RESIDENCE HALL RENTAL 532000 11394343 11394343 MANAGEMENT FEE INCOME 813211 746368 746368 12140711 1879983 1879983 3047289 0 3047289 3047289 3047289 36910 83260 48932 -12022 -12022 NON GIFT INCOME 900099 681707 681707 681707 22250387 12822418 0 4915250 7828677 7828677 225178 225178 1534581 1307813 226768 8999 6820 2179 63075 47793 15282 20937 15866 5071 1620735 1598611 17790 4334 425258 425258 43108 43108 512665 335814 320 176531 20282 10966 9316 294551 251795 2417 40339 25747 14767 9875 1105 1853942 1770706 83236 20292 19503 789 5330486 5330486 3480877 3480877 249541 249541 INTERNAL CHARGEBACK 683517 683517 BAD DEBT EXPENSE 677070 677070 LOSS ON NOTE RECEIVABLE 551050 551050 PAYMENT IN LIEU OF TAXE 196020 196020 165617 125505 404 39708 25832205 23952147 1524700 355358 9614507 5455290 2508920 2817128 1858871 956721 111652 62715 138987783 47056875 93722428 91930908 97124311 123151786 24253203 20910542 229193892 245285090 6274831 2876313 392523 24014 124516791 120751148 5394691 7057549 45247404 41671195 181826240 172380219 X -17548093 -9415406 64915745 82320277 47367652 72904871 229193892 245285090 X -3581818 23500060 5618977 X 0 1 X 1 0 X 7042071 13705643 5681571 4840202 4512719 35782206 7042071 13705643 5681571 4840202 4512719 35782206 1643813 34138393 1670698 2282100 2568868 2838256 1879983 11239905 -230690 1003270 3706533 721894 681707 5882714 52904825 108551350 0.64530 0.61680 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2016 AMOUNT: $ -230,690. 2017 AMOUNT: $ 1,003,270. 2018 AMOUNT: $ 3,706,533. 2019 AMOUNT: $ 721,894. 2020 AMOUNT: $ 681,707. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1028867 X X X 0 0 1 X 60550163 2955474 17531441 1320083 597606 741986 78377403 61146591 2197085 -358501 1258149 594942 581921 60550163 60303757 3325054 2424326 1209947 3135069 561530 61146591 58956302 6349411 5018269 1056897 8419403 543925 60303757 53208723 1684762 6209498 1257685 368484 520512 58956302 0.03510 0.50060 0.46430 0 0 130393825 40276734 90117091 285991 92795 193196 6757967 6687346 70621 1550000 1550000 91930908 INSURANCE INVESTMENT 433949 ART WORK 1028867 RESTRICTED CASH HELD WITH TRUSTEE 15646614 DEPOSITS ON WORK 1610000 RIGHT-OF-USE ASSETS 2191112 20910542 ACCRUED INTEREST PAYABLE 1783764 INTEREST RATE SWAP AGREEMENTS 37184996 TRUSTS AND ANNUITIES PAYABLE 136803 GROUND LEASE LIABILITY 2565632 41671195 53788823 29552163 1937340 48932 31538435 22250388 0 22250388 27897254 1937340 127709 2065049 25832205 0 25832205 PART III, LINE 4: THE ARTWORK COLLECTION HELD BY THE FOUNDATION IS A COLLECTION OF ART DONATED TO BE USED BY THE UNIVERSITY FOR EDUCATIONAL PURPOSES. PART IV, LINE 2B: THE FOUNDATION HOLDS INVESTMENTS FOR THE INDIANA UNIVERSITY OF PENNSYLVANIA (IUP) ALUMNI ASSOCIATION. THE INVESTMENTS ARE INCLUDED IN THE FOUNDATION'S INVESTMENT ACCOUNTS. CONTRIBUTIONS TO AND DISBURSEMENTS FROM THE ACCOUNT DIRECTLY INCREASE OR DECREASE THE LIABILITY. A PORTION OF THE REALIZED AND UNREALIZED INVESTMENT INCOME OR LOSS EARNED BY THE FOUNDATION IS CREDITED TO THE LIABILITY AND IS CALCULATED BASED ON THE PROPORTIONATE VALUE OF THE AMOUNT HELD FOR THE IUP ALUMNI ASSOCIATION TO THE TOTAL VALUE OF THE FOUNDATION'S INVESTMENT ACCOUNTS. AMOUNTS HELD FOR THE IUP ALUMNI ASSOCIATION ARE INCLUDED IN INVESTMENTS ON THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION. THE FOUNDATION HAS NO SPENDING AUTHORITY OVER THIS FUND. PART V, LINE 4: THE INTENDED USE OF THE FOUNDATION'S ENDOWMENT FUNDS IS TO PROVIDE ACADEMIC AND PROGRAMMATIC SUPPORT TO INDIANA UNIVERSITY OF PA. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE NETTED WITH INCOME PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE NETTED WITH INCOME LOSS ON UNCOLLECTIBILE PLEDGES PART X, LINE 2 THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER CODE SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, BASED ON A DETERMINATION LETTER DATED APRIL 3, 2007. THE FOUNDATION IS CLASSIFIED AS A PUBLIC CHARITY BY THE COMMONWEALTH OF PENNSYLVANIA AND IS EXEMPT FROM STATE TAXES ON RELATED INCOME. THE FOUNDATION IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS OR ANY ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME TAXES. CRIMSON HAWKS IS NOT A TAXPAYING ENTITY FOR FEDERAL OR STATE INCOME TAX PURPOSES, THEREFORE, NO PROVISION OR LIABILITY FOR FEDERAL OR STATE INCOME TAXES IS INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE FOUNDATION AND CRIMSON HAWKS FOLLOW THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. THIS STANDARD PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT PRINCIPLE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENTS OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. AS A RESULT OF THE APPLICATION, THE FOUNDATION AND CRIMSON HAWKS EVALUATED ITS TAX POSITIONS AND DETERMINED THERE WERE NO UNCERTAIN TAX POSITIONS FOR EITHER OF THE YEARS ENDED JUNE 30, 2021 OR 2020. MEN'S BASKETBALL GOLF OUTING 61430 43200 18230 1525 220 10076 5489 5446 EBERLY COLLEGE OF BUSINESS GOLF CLA 58740 40060 18680 920 10479 8581 6196 120170 83260 36910 2445 220 20555 14070 11642 48932 -12022 1 INDIANA UNIVERSITY OF PENNSYLVANIA 1011 SOUTH DRIVE INDIANA PA 15705 251470695 7828677 SCHOLARSHIPS & PROGRAM SUPPORT 1 PART I, LINE 2: THE FOUNDATION FOR INDIANA UNIVERSITY OF PENNSYLVANIA PROVIDES SCHOLARSHIP DOLLARS TO THE UNIVERSITY TO DISBURSE TO INDIVIDUAL STUDENTS AT THEIR DISCRETION. THE UNIVERSITY, IN PARTNERSHIP WITH THE FOUNDATION, MAINTAINS PROPER RECORDS TO SUBSTANTIATE THE AMOUNT OF, AND THE GRANTEE'S ELIGIBILITY FOR, THE GRANT OR ASSISTANCE, AS WELL AS THE SELECTION CRITERIA USED IN AWARDING SCHOLARSHIPS. A PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 232248352 70917RKD6 2007-05-15 80540000 TO FINANCE CONSTRUCTION OF STUDENT HOUSING FACILITY 0 0 0 B PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 232248352 70917SVK6 2015-12-22 68375000 REFINANCE ORIGINAL LOAN USED TO CONSTRUCT STUDENT HOUSING FACILITY 0 0 0 A 80540000 6493664 1354900 3376850 2305487 68655064 2008 0 0 1 1 B 68375000 68375000 2009 1 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 0 0 1 1 1 RAYMOND JAMES 32.000000000000 1 0 0 0 0 B 0 0 0 1 0 1 DEUTSCHE BANK 25.000000000000 1 0 0 0 0 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 06/03/2021 ISSUER NAME: PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 02/02/2021 FORM 990, PART VI, SECTION A, LINE 1 THE STANDING COMMITTEES OF THE FOUNDATION SHALL BE THE EXECUTIVE COMMITTEE, THE GOVERNANCE COMMITTEE, FINANCE COMMITTEE, INVESTMENT COMMITTEE, STRATEGIC PLANNING COMMITTEE, AND AUDIT COMMITTEE. THE BOARD OF DIRECTORS MAY, BY RESOLUTION ADOPTED BY AT LEAST A MAJORITY OF THE VOTING DIRECTORS IN OFFICE, ESTABLISH ONE OR MORE ADDITIONAL STANDING OR OTHER COMMITTEES AND TERMINATE ANY STANDING OR OTHER COMMITTEE. NOTICE OF A PROPOSAL TO ESTABLISH OR ELIMINATE A STANDING COMMITTEE SHALL BE GIVEN AT LEAST FIVE (5) DAYS PRIOR TO THE DATE OF ANY REGULAR OR SPECIAL MEETING OF THE BOARD OF DIRECTORS AT WHICH SUCH PROPOSAL WILL BE CONSIDERED. EACH STANDING COMMITTEE SHALL HAVE SUCH NUMBER OF VOTING MEMBERS AS ARE STATED IN THE BYLAWS. EACH STANDING COMMITTEE ESTABLISHED BY THE BOARD OF DIRECTORS IN COMPLIANCE WITH THE BYLAWS SHALL HAVE SUCH NUMBER OF VOTING MEMBERS AS THE BOARD MAY DESIGNATE. THE FOUNDATION'S PRESIDENT SHALL BE A VOTING MEMBER AND CHAIR OF THE EXECUTIVE COMMITTEE AND EX OFFICIO NON-VOTING MEMBER OF ALL OTHER COMMITTEES. THE BOARD MAY APPOINT NOT MORE THAN TWO (2) ADDITIONAL EX OFFICIO MEMBERS OF EACH COMMITTEE. THE CHAIR OF EACH COMMITTEE MUST BE A FOUNDATION DIRECTOR. EXCEPTING ONLY A COMMITTEE CHAIR, COMMITTEE MEMBERS MAY, BUT NEED NOT BE, DIRECTORS OF THE FOUNDATION. ALL COMMITTEE MEMBERS SHALL HAVE THE RIGHT TO VOTE AND SHALL BE COUNTED IN DETERMINING THE PRESENCE OF A QUORUM. THE MAJORITY OF THE VOTING MEMBERS OF A COMMITTEE IN OFFICE SHALL BE NECESSARY TO CONSTITUTE A QUORUM FOR THE TRANSACTION OF BUSINESS, AND THE ACTS OF A MAJORITY OF THE VOTING MEMBERS PRESENT AT A MEETING AT WHICH A QUORUM WAS PRESENT WHEN THE MEETING BEGAN SHALL BE THE ACTS OF THE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS DELEGATES THE REVIEW OF THE 990 AND RELATED SCHEDULES TO THE AUDIT COMMITTEE AND DIRECTOR OF FINANCIAL OPERATIONS UNDER THEIR RECOMMENDATION, THE 990 IS APPROVED FOR FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE BYLAWS STATE THAT AN INDIVIDUAL MUST EXPOSE THE CONFLICT AND REMOVE THEMSELVES FROM THE VOTE IF THE BOARD HAS REASONABLE CAUSE TO BELIEVE THAT A DIRECTOR, OFFICER, OR COMMITTEE MEMBER HAD FAILED TO DISCLOSE AN ACTUAL OR POSSIBLY FINANCIAL INTEREST, IT WILL AFFORD THE DIRECTOR, OFFICER OR COMMITTEE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE THE CONFLICT OF INTEREST. IF AFTER HEARING THE RESPONSE AND MAKING SUCH FURTHER INVESTIGATION AS THE BOARD DEEMS APPROPRIATE, THE BOARD DETERMINES THAT THE DIRECTOR, OFFICER OR COMMITTEE MEMBER HAS IN FACT FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT WILL TAKE APPROPRIATE ACTION, WHICH MAY INCLUDE IMMEDIATE REMOVAL FROM THE POSITION HELD WITHIN THE FOUNDATION FOR IUP. FORM 990, PART VI, SECTION B, LINE 15 THE FOUNDATION FOR IUP HAS AN EXECUTIVE COMMITTEE MADE UP OF BOARD MEMBERS WHO EVALUATE THE COMPENSATION FOR THE DIRECTOR AND ALL EMPLOYEES OF THE ORGANIZATION USING AVAILABLE COMPARABILITY DATA PROVIDED BY THE UNIVERSITY (IUP). THE EXECUTIVE COMMITTEE REVIEWS AND APPROVES THE COMPENSATION AND BRINGS THE DECISIONS TO THE FULL BOARD OF DIRECTORS TO APPROVE. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: LOSSES ON UNCOLLECTIBLE PLEDGES -78,777. CHANGE IN NET ASSETS FROM PRONOUNCEMENT ADOPTION -354,350. UNREALIZED GAIN ON INTEREST SWAP AGREEMENT 6,052,104. CRIMSON HAWKS HOSPITALITY LLC MANAGEMENT DE 0 0 RESIDENTIAL REVIVAL INDIANA 1099 MAPLE STREET RUDDOCK G-42 INDIANA PA 15705 812092154 STUDENT HOUSING FACILITIES PA 501(C)(3) LINE 5 0 INDIANA UNIVERSITY OF PENNSYLVANIA 1011 SOUTH DRIVE INDIANA PA 15705 251470695 EDUCATION PA 0 0 1 0 1 0 0 0 0 0 1 1 1 1 0 0 0 1 0 0 INDIANA UNIVERSITY OF PENNSYLVANIA B 907066 COST INDIANA UNIVERSITY OF PENNSYLVANIA J 772887 COST INDIANA UNIVERSITY OF PENNSYLVANIA K 113478 COST INDIANA UNIVERSITY OF PENNSYLVANIA L 687300 COST INDIANA UNIVERSITY OF PENNSYLVANIA M 1937340 COST