2020-12-09T10:22:03-06:00 2020-06-30 410746749 CLIFTONLARSONALLEN LLP 4505 STEPHENS CIRCLE NW CANTON OH 44718 990 2019-07-01 256087074 THE FOUNDATION FOR INDIANA UNIVERSITY OF PENNSYLVANIA (IUP) FOUN 7243573184 1011 SOUTH DRIVE INDIANA PA 15705 ELIZABETH LAUBER EXECUTIVE DIRECTOR 7243573184 2020-12-03 1 JENNIFER COLEMAN P00743188 3304972000 2020-12-03 2019 2022-09-23 18:48:47Z ELIZABETH LAUBER 1011 SOUTH DRIVE INDIANA PA 15705 29652925 0 X WWW.IUP.EDU/FOUNDATION X 1967 PA TO PROVIDE PHILANTHROPIC SUPPORT TO INDIANA UNIVERSITY OF PENNSYLVANIA 15 15 8 15 0 0 3367247 4840202 19149821 18329220 4055499 5693192 3734787 719545 30307354 29582159 10234165 6276454 0 0 3008068 2448763 0 0 212894 16838906 34305540 30081139 43030757 226215 -13448598 247193546 229193892 167851045 181826240 79342501 47367652 THE FOUNDATION FOR IUP'S PRIMARY MISSION IS TO PROVIDE SUPPORT TO INDIANA UNIVERSITY OF PENNSYLVANIA. 0 0 15835527 214443 17531813 THE FOUNDATION FOR IUP OWNS AND RENTS RESIDENTIAL HOUSING TO STUDENTS OF INDIANA UNIVERSITY OF PENNSYLVANIA 5313588 5313588 PROVIDE SCHOLARSHIPS AND AWARDS TO STUDENTS OF INDIANA UNIVERSITY OF PENNSYLVANIA. 2337054 748423 1519303 PROVIDE EDUCATIONAL SUPPORT TO VARIOUS COLLEGES AND DEPARTMENTS AT INDIANA UNIVERSITY OF PENNSYLVANIA 23486169 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 45 0 8 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 TERRY DUNLAP PRESIDENT 1.00 1.00 X X 0 0 0 WILLIAM SHIPLEY VICE PRESIDENT 10.00 2.50 X X 0 0 0 DANIEL SARVER SEC/TREASURER 2.50 2.50 X X 0 0 0 SANDRA BARSOTTI DIRECTOR 1.00 1.00 X 0 0 0 DAVID BLUEMLING DIRECTOR 1.00 1.00 X 0 0 0 TIM BURNS DIRECTOR 1.00 1.00 X 0 0 0 RICH CARUSO DIRECTOR 5.00 5.00 X 0 0 0 FRANK ROBERTS 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 DIRECTOR 1.00 1.00 X 0 0 0 RICK UBINGER DIRECTOR 1.00 1.00 X 0 0 0 JACKLYN BROWN FORMER DIRECTOR OF FINANCIAL OPER 25.00 15.00 X 64516 0 6452 RANDY THORNTON DIRECTOR OF FINANCIAL OPER 25.00 15.00 X 8885 0 0 ELIZABETH G LAUBER EXECUTIVE DIRECTOR 32.50 7.50 X 111050 0 11105 184451 0 17557 1 0 0 0 0 100936 4739266 4840202 RESIDENCE HALL RENTAL 532000 17531813 17531813 MANAGEMENT FEE INCOME 900099 797407 797407 18329220 2838256 2838256 2854936 0 2854936 2854936 2854936 68415 100936 70766 -2351 -2351 NON GIFT INCOME 900099 721896 721896 721896 29582159 19051116 0 5690841 6276454 6276454 189834 189834 2134486 1809327 325159 12658 10730 1928 75499 63998 11501 36286 30758 5528 1744293 1724660 17740 1893 270613 270613 52388 52388 327394 327394 371048 292330 25935 52783 43409 17640 500 25269 368277 318201 590 49486 111472 83569 10300 17603 2296886 2296886 68016 55779 12237 13059 11289 1770 5501433 5501433 3533651 3533651 242436 242436 LOSS ON NOTE REC. - REL 18089337 18089337 BAD DEBT EXPENSE 504397 504397 INTERNAL CHARGE BACK 254697 254697 FOOD SUPPLIES & SERVICE 217501 176744 1271 39486 295233 281190 1676 12367 43030757 23486169 19331694 212894 6049380 9614507 2467740 2508920 2006387 1858871 18309898 0 98965 111652 137437783 43715355 97112404 93722428 94486968 97124311 26661804 24253203 247193546 229193892 1020233 6274831 432569 392523 128117433 124516791 5494321 5394691 32786489 45247404 167851045 181826240 X 16619375 -17548093 62723126 64915745 79342501 47367652 247193546 229193892 X -13448598 -1640349 -16885902 X 0 1 X 1 0 X 5500675 7042071 13705643 5681571 4840202 36770162 5500675 7042071 13705643 5681571 4840202 36770162 3603057 33167105 1467552 1670698 2282100 2568868 2838256 10827474 975168 -230690 1003270 3706533 721894 6176175 53773811 120755135 0.61680 0.62190 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1028867 X X X 0 0 5494321 1127698 1227329 5394690 1 X 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 54542960 3012538 -2021444 1297795 550923 476613 53208723 0.03590 0.60600 0.35810 0 0 130393825 37293637 93100188 285991 64092 221899 6757967 6357626 400341 93722428 INSURANCE INVESTMENT 432897 ART WORK 1028867 RESTRICTED CASH HELD W/ TRUSTEE 22791439 24253203 ACCRUED INTEREST PAYABLE 1866580 INTEREST RATE SWAP AGREEMENTS 43237099 TRUSTS AND ANNUITIES PAYABLE 141168 UNCLAIMED PROPERTY PAYABLE 2557 45247404 X 27277813 2097939 70765 2168704 25109109 327394 4145656 4473050 29582159 59252662 2097939 14451360 16549299 42703363 327394 327394 43030757 PART IV, LINE 2B: THE FOUNDATION HOLDS INVESTMENTS FOR THE INDIANA UNIVERSITY OF PENNSYLVANIA (IUP) ALUMNI ASSOCIATION. THE INVESTMENTS ARE INCLUDED IN THE BNY MELLON 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 BNY MELLON 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 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, 2020 OR 2019. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES NETTED WITH REVENUE 70,765. PART XI, LINE 4B - OTHER ADJUSTMENTS: REFUNDS OF STUDENT RENTS AND FEES RESULTING FROM PANDEMIC 4,145,656. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES NETTED WITH INCOME 70,765. UNREALIZED LOSS ON INVESTMENTS 1,640,349. UNREALIZED LOSS ON INTEREST RATE SWAP 12,685,578. LOSS ON UNCOLLECTIBLE PLEDGES 54,668. SCHEDULE D, 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. SCHEDULE D, 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. MEN'S BASKETBALL GOLF OUTING 68370 48390 19980 1650 220 7018 8268 400 3316 EBERLY COLLEGE OF BUSINESS GOLF 45760 26770 18990 900 200 10554 8566 6845 4 55221 25776 29445 700 3295 15337 3497 169351 100936 68415 3250 420 20867 32171 400 13658 70766 -2351 1 INDIANA UNIVERSITY OF PENNSYLVANIA 1011 SOUTH DRIVE INDIANA PA 15705 251470695 INDIANA UNIV OF PA 5289047 SCHOLARSHIPS INDIANA UNIVERSITY OF PENNSYLVANIA 1011 SOUTH DRIVE INDIANA PA 15705 251470695 INDIANA UNIV OF PA 987407 UNIVERSITY SUPPORT 2 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 232243852 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 A 0 B 0 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 06/17/2020 ISSUER NAME: PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 01/31/2020 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 NO DOCUMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: UNREALIZED GAIN ON INTEREST RATE SWAP AGREEMENTS -12,685,578. REFUNDS OF STUDENT RENTS AND FEES RESULTING FROM PANDEMIC -4,145,656. LOSSES ON UNCOLLECTIBLE PLEDGES -54,668. 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