2020-02-14T10:48:16-08:00 2019-06-30 990 2018-07-01 066070722 The University of Connecticut Foundation Inc UNIV 8604865000 2390 Alumni Drive Unit 3206 Storrs CT 06269 Gerald Ganz Jr Sr VP Fin/Admin, CFO 2020-02-14 2018 2020-09-22 18:59:49Z Gerald Ganz Jr 2390 Alumni Drive Unit 3206 Storrs CT 062693206 68469526 false false X www.foundation.uconn.edu X 1964 CT To operate exclusively for charitable and educational purposes, all for the public welfare, and to this end to promote, encourage and assist all forms of education, healthcare and research at the University of Connecticut, including without limitation, the University of Connecticut Health Center; to solicit donations of, accept and receive properties, moneys or securities by virtue of gift, grant, bequest, devise or otherwise, and to hold, control, administer, invest, reinvest, accumulate, and generally care for any and all funds and property, real and personal, which from time to time may be given, granted, bequeathed, devised or otherwise conveyed or made available to the Corporation either unconditionally, upon condition or in trust for specified purposes within the limitations of this certificate of incorporation; and to disburse such funds and property, or the income therefrom, in aiding, supplementing, improving and enlarging the educational, cultural, recreational, healthcare an 37 36 227 53 967968 43775533 43206338 10767944 11460779 14283721 13471924 5644 89166 68832842 68228207 27924861 35053961 0 15997603 16847160 357710 332670 17188871 9515612 9918999 53795786 62152790 15037056 6075417 575624249 597750214 41194696 47706741 534429553 550043473 X To operate exclusively for charitable and educational purposes, all for the public welfare, and to this end to promote, encourage and assist all forms of education, healthcare and research at the University of Connecticut, including without limitation, the University of Connecticut Health Center; to solicit donations of, accept and receive properties, moneys or securities by virtue of gift, grant, bequest, devise or otherwise, and to hold, control, administer, invest, reinvest, accumulate, and generally care for any and all funds and property, real and personal, which from time to time may be given, granted, bequeathed, devised or otherwise conveyed or made available to the Corporation either unconditionally, upon condition or in trust for specified purposes within the limitations of this certificate of incorporation; and to disburse such funds and property, or the income therefrom, in aiding, supplementing, improving and enlarging the educational, cultural, recreational, healthcare an false false 11382750 11382750 Scholarships, Awards, and FellowshipsThe University of Connecticut Foundation, Inc. receives gifts on behalf of donors, restricted to the support of financial aid for University of Connecticut students. To ensure compliance with all University, federal, and state financial aid requirements, the University selects the student recipients and makes the awards directly to students. After receiving appropriate documentation from the University, the Foundation provides grants to the University to fund financial aid expenditures. The expenditures are funded from investment income earned on endowment funds restricted to financial aid and gifts restricted for financial aid. 8943546 8943546 Program ServicesThe University of Connecticut Foundation, Inc. receives gifts on behalf of donors, restricted to the support of programs at the University. Generally, the expenditure is made to the vendor directly by the University with the Foundation then providing a grant to the University to fund the expenditure after receiving appropriate documentation. Occasionally the Foundation will pay the vendor directly. 8596832 8596832 Endowed Chairs and ProfessorshipsThe University of Connecticut Foundation, Inc. received gifts on behalf of donors restricted to support of University of Connecticut faculty compensation and research. To ensure compliance with all University and state personnel policies and for W-2 reporting purposes, the University pays all faculty directly for compensation related items. After receiving appropriate documents from the University, the Foundation provides grants to the University to fund faculty compensation expenditures.For non-compensation expenditures in support of faculty (e.g. research materials and equipment), generally the expenditure is made to the vendor directly by the University with the Foundation then providing a grant to the University to fund the expenditure after receiving appropriate documentation. Occasionally, the Foundation will pay the vendor directly.The expenditures are funded from investment income earned on endowment funds restricted to support of faculty. 6130833 6130833 11460779 35053961 true true false true false false false false true true true true false true false false true false false false true false false true true false false true false true true false false false false false false false false false false true false false false false true false false false true 174 0 true 227 true true true true OC false false false true true false 0 false false false false false false false false false false false false X 37 36 false false false false false false false true true false false true true true true true true true true false CA KY MA MD MI MN NH NJ NY OR SC UT WI WV X X X Gerald Ganz Jr 8604865000 2390 Alumni Drive Unit 3206 Storrs CT 06269 Joshua Newton Pres to 8/14/18 40.00 0.00 X X 442275 0 30394 Steven M Greenspan Dir fr 10/25/18 1.00 0.00 X 0 0 0 Adam L Schwartz Director 1.00 0.00 X 0 0 0 Albert J Foreman Director 1.00 0.00 X 0 0 0 Angelo DeFazio Director 1.00 0.00 X 0 0 0 Anthony Rizza Director 1.00 0.00 X 0 0 0 Benjamin W Michelson Director 1.00 0.00 X 0 0 0 David Ford Director 1.00 0.00 X 0 0 0 Alan R Bennett Director 1.00 0.00 X 0 0 0 Craig W Ashmore Secretary 1.00 0.00 X X 0 0 0 Douglas P Lawrence Director 1.00 0.00 X 0 0 0 Drew A Figdor Director 1.00 0.00 X 0 0 0 Fran Del Boca Director 1.00 0.00 X 0 0 0 George R Aylward Jr Director 1.00 0.00 X 0 0 0 Debra Hess Director 1.00 0.00 X 0 0 0 Harriet M Wolfe Director 1.00 0.00 X 0 0 0 John P Malfettone Chairman 1.00 0.00 X X 0 0 0 John Fodor to 52819 Pres fr 8/15/18 40.00 0.00 X X 91462 0 8485 Jonathan L Greenblatt Director 1.00 0.00 X 0 0 0 Joseph E Parsons Director 1.00 0.00 X 0 0 0 Leah A Darak Director 1.00 0.00 X 0 0 0 Scott M Roberts Pres fr 5/28/19 40.00 0.00 X X 0 0 0 Mark A Beaudoin Director 1.00 0.00 X 0 0 0 Clinton G Gartin Dir to 10/24/18 1.00 0.00 X 0 0 0 Constance Weaver Dir to 10/24/18 1.00 0.00 X 0 0 0 Mark C Sinatro Director 1.00 0.00 X 0 0 0 Daniel D Toscano Chair to Oct'18 1.00 0.00 X X 0 0 0 Lincoln Millstein Dir to 8/6/18 1.00 0.00 X 0 0 0 Mary Ann W Gilleece Dir to 10/24/18 1.00 0.00 X 0 0 0 Michael G Koppel Treasurer 1.00 0.00 X X 0 0 0 Michael K Rosen Director 1.00 0.00 X 0 0 0 Michael A Melio Dir to 7/30/18 1.00 0.00 X 0 0 0 Patrick M Campion Director 1.00 0.00 X 0 0 0 Walter R Allen Director 1.00 0.00 X 0 0 0 Robert I Sherman Director 1.00 0.00 X 0 0 0 Robert J Skinner Director 1.00 0.00 X 0 0 0 William B Clemens III Director 1.00 0.00 X 0 0 0 William J Quinlan III Director 1.00 0.00 X 0 0 0 Kimberly T Manning Director 1.00 0.00 X 0 0 0 Nadine F West Director 1.00 0.00 X 0 0 0 Noha H Carrington Director 1.00 0.00 X 0 0 0 Amy J Errett Director 1.00 0.00 X 0 0 0 Lori Riiska Director 1.00 0.00 X 0 0 0 Melinda T Brown Director 1.00 0.00 X 0 0 0 Suzanne B Bird Director 1.00 0.00 X 0 0 0 Gerald Ganz Jr Sr. VP Fin/Adm 40.00 0.00 X 265756 0 44677 Jacob Lemon Sr. VP for Dev 40.00 0.00 X 265666 0 43170 Brian Otis VP of Principal Gifts 40.00 0.00 X 224154 0 40207 Derek Slap VP Mktg & Comm 40.00 0.00 X 168936 0 16491 Jennifer Grey AVP Dev-HS 40.00 0.00 X 176684 0 21945 Shahid Farooqi Dir of Investments 40.00 0.00 X 150709 0 32795 Suzanne O'Conor General Counsel 40.00 0.00 X 240184 0 23645 Frank Gifford AVP Development 40.00 0.00 X 176727 0 36874 Melissa Maynard Former Interim CFO 40.00 0.00 X 114293 0 29406 2316846 328089 36 true true false Ruffalo Cody HoldingsRuffalo Noel Levitz PO Box 718 Des Moines IA 503030718 Phone solicitations 388644 Wells Fargo Visa PO Box 63020 San Francisco CA 94163 Credit card 515828 StepStoneGroup LP 4275 Executive Square Ste 500 LaJolla CA 92037 Consulting 441944 PricewaterhouseCoopers LLP PO Box 7247-8001 Philadelphia PA 191708001 Auditing services 245840 Wheels Up Partners LLC 220 West 42nd St 9th Floor New York NY 10036 Travel services 208615 14 465019 42741319 3183820 43206338 Univ. Endow Admin Fee 900099 293613 293613 Univ. Fee for Service 900099 11167166 11167166 11460779 7600562 867306 6733256 0 0 0 5892111 20749 5871362 5871362 100662 5770700 309736 465019 220570 89166 89166 0 0 0 68228207 11460779 967968 12593122 35053961 35053961 0 0 0 1387898 242087 1145811 0 12016019 3054157 8961862 778175 205369 572806 1652529 365946 1286583 1012539 264633 747906 0 56092 56092 191355 191355 21750 21750 332670 332670 2979863 2979863 476438 136479 339959 43565 17628 25937 336974 77903 259071 1463452 957577 505875 0 325609 71593 254016 551214 50165 501049 0 102642 26960 75682 262926 206562 56364 0 704747 282862 421885 98888 94531 4357 Special Events 1405063 130833 1274230 Printing and Publications 241779 4806 236973 Donor cultivation & promotion 237298 224982 12316 Club memberships & dues 193505 66034 127471 225839 201541 24298 62152790 35053961 9909958 17188871 6948129 15897891 7297018 4921539 22916988 19018122 224157 632834 0 0 0 8400 8400 407271 379704 11724707 7117806 5061794 4606901 222395858 242805706 156660023 167716210 0 0 153704611 141762907 575624249 597750214 7019956 16967926 12500000 10000000 17403073 17132863 4271667 3605952 41194696 47706741 X 9654803 11864923 524774750 538178550 534429553 550043473 575624249 597750214 X 6075417 11495408 -1956905 X false true X true false X 33051328 42383683 38506381 43775533 43206338 200923263 0 0 33051328 42383683 38506381 43775533 43206338 200923263 820938 200102325 8710287 8761282 12382769 10912511 7600562 48367411 20305 967968 988273 0 250278947 50993760 0.79950 0.77420 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false 23959 23959 62546523 62570482 1000000 250000 false 1000000 1000000 1000000 1000000 4000000 6000000 1075 2804 610 23959 28448 250000 250000 250000 250000 1000000 1500000 1075 2804 610 23959 28448 Part I-A, Line 1 - Direct and Indirect Political Campaign Activities The University of Connecticut Foundation, Inc. does not participate in political campaigns. false true X 446492267 18315088 17201432 15398102 7868032 458742653 401505076 36134103 32249710 15587590 7809032 446492267 362419000 16697000 42316000 13024000 6903000 401505000 368179000 19358000 -4768000 13755000 6595000 362419000 369444000 8242000 7957000 12749000 4715000 368179000 0.00380 0.97470 0.02150 false false false 201361 201361 6372170 2968370 3403800 1012310 434316 577994 4138866 3715120 423746 4606901 167716210 Capital leases 51858 CSV of life insurance policies 585876 Deferred bond & note issuance costs 140673 Endowment held for University 15059023 Funds held in trust by others 11906914 Limited partnership investments 114018561 Rounding 2 141762907 75007415 11495408 -4936770 6558638 68448777 -220570 -220570 68228207 59393495 220570 220570 59172925 2979865 2979865 62152790 Part IV, Line 2b: Explanation of escrow account liability The Foundation is named as the trustee and remainder beneficiary of several charitable remainder trusts. In addition, the Foundation has entered into contracts with donors for charitable gift annuities for which the Foundation has accepted contributions. The present value of the liability for future payments is reflected on the Foundation's balance sheet.The Foundation has a contractual arrangement to act as the University's agent in managing the University's endowment assets, ensuring consistent management of endowment assets that support the University regardless of entity ownership. Part V, Line 4: Intended uses of the endowment fund. The Foundation's endowment funds provide grants to the University of Connecticut. The grants may be used to provide scholarships to University of Connecticut students, compensation and research support for University of Connecticut faculty, and general program support for University of Connecticut academic and athletic programs. The use of all endowment funds is subject to any restriction placed on funds by donors. All disbursements are subject to the Foundation's policy on disbursements, including the amount of the expenditure must be reasonable, for a legitimate business purpose, and with no private benefit. Part XII, Line 2d: Other expenses and losses per audited F/S Event expense offseting t/r revenue $220570 Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S Investment fees $2979865 East Asia & the Pacific 0 0 Fundraising 171812 North America 0 0 Fundraising 76625 Central America & Caribbean 0 0 Investments 12828466 Europe 0 0 Fundraising 35363 Middle East & North Africa 0 0 Fundraising 200 13112466 13112466 true false true true true false Part I, Line 3f - Method of Accounting Foreign expenditures are separately identified on the organization's books and records. X X X X X X true Ruffalo Noel Levitz 1025 Kirkwood Parkway SW Cedar Rapids IA 52404 Phone Solicitation false 343892 150600 193292 Gold Orluk & Partners LLC 172 West Main Street Avon CT 06001 Event Planner false 332749 69570 263179 676641 220170 456471 AL AK AZ AR CA CO CT DE DC 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 Calhoun Cardiology Golf 238849 170113 68736 10250 315 Golf Classic - Joe Giannelli 114605 54138 60467 9151 34822 12 421301 240768 180533 10467 45790 94183 250 15342 774755 465019 309736 19618 90862 94183 250 15657 220570 89166 STM01 As required, the Foundation is reporting all events that had income or expensesduring the fiscal year. It is possible that some events may have taken place in theprior fiscal year, or will be held in a future year. As a result, revenue orexpense amounts reported for an event may not be final, or portions may have beenreported in the prior year. true University of Connecticut 352 Mansfield Road Unit 2048 Storrs CT 06269 060772160 State of Connecticut 35053961 0 University support 1 0 Grantmaker's Description of How Grants are Used Fund Administration staff receives appropriate documentation prior to making disbursements to ensure compliance with grant restrictions, and to ensure such disbursements are reasonable. X X X false false false false false false false true false false Brian Otis VP of Principal Gifts 194154 30000 18585 21622 264361 Derek Slap VP Mktg & Comm 168936 13541 2950 185427 Frank Gifford AVP Development 176727 14886 21988 213601 Gerald Ganz Jr Sr. VP Fin/Adm 245756 20000 21785 22892 310433 Jacob Lemon Sr. VP for Dev 250666 15000 21477 21693 308836 Jennifer Grey AVP Dev-HS 176684 14341 7604 198629 Joshua Newton Pres to 8/14/18 344300 97975 22000 8394 472669 Melissa Maynard Former Interim CFO 114293 9570 19836 143699 Shahid Farooqi Dir of Investments 140709 10000 12123 20672 183504 Suzanne O'Conor General Counsel 210184 30000 19453 4192 263829 Part I, Line 7: Non-Fixed payments not listed above The Foundation may give performance based awards based on formal review and with approval of Foundation management and board. A CHEFA 060806186 000000000 2013-04-24 20000000 Construction project false false false A 10000000 20000000 270526 19729474 false false true true A false false false false false false false false true A false true false false false true A true 88 3112112 Market Value Events 5 15259 Sales Price Services 2 56449 Sales Price false true false Form 990, Part III, Line 4d: Other Program Services Description OTHER PROGRAM SERVICES 4: Equipment, Furniture, and Building ImprovementsThe University of Connecticut Foundation, Inc. receives gifts on behalf of donors restricted to the support of equipment and furniture purchases and building improvements. Generally the expenditure is made to the vendor directly by the University, with the Foundation then providing a grant to the University to fund the expenditure after receiving appropriate documentation. Occasionally the Foundation will pay the vendor directly. The University of Connecticut provides payment to the Foundation for fundraising and development expenses. The Foundation also earns a fee for management of endowment funds held by the University. Form 990, Part VI, Line 1a: Explanation of Delegated Broad Authority to Committee The Foundation Board has given the Executive Committee that consists of the Chair, the Chair of the Nominating and Board Governance Committee, the President of the Corporation, the President of the University, and three or more at-large Board members, full power and authority as the Board. The Executive Committee may meet and exercise all such powers and authority in the interim between the meetings of the Board. The Executive committee may not fill Board vacancies, amend certificate of incorporation, adopt, amend, or repeal bylaws, approve a plan of merger, approve a sale, lease, exchange, or other disposition of all, or substantially all, of the property of a corporation, or approve a proposal to dissolve the Corporation. Form 990, Part VI, Line 11b: Form 990 Review Process The Form is prepared by the Foundation and reviewed by management and the Foundation's Audit Committee. The Form is provided to the entire Board before it is filed. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts Annually, the Foundation's Board members, officers, and employees are sent a copy of the Foundation's Conflict of Interest questionnaire that they are required to complete and return to the Foundation. The responses are then reviewed by the Foundation's in-house legal counsel, with any potential conflicts reviewed with the Nominating and Governance Committee of the Board and the full Board as appropriate. Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management The Foundation's salary structure is market-driven and undergoes a rigorous, periodic review under which compensation levels are compared to organizations of similar size and mission. The salaries and benefits of the UCONN Foundation's officers and key employees are subject to approval in advance of payment by a majority of disinterested directors on the Executive Committee of the Board of Directors. The officers and key employees are not in a position of control with respect to the Committee. The Committee relies on appropriate comparability data in determining the reasonableness of the compensation packages. Minutes adequately documenting the basis for the Executive Committee's decisions are maintained. The approval of compensation packages occurs in May or June for compensation to be paid in the subsequent fiscal year. Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees See 15a Form 990, Part VI, Line 19: Other Organization Documents Publicly Available The Foundation's financial statements and conflict of interest policy are posted on the Foundation's website. The Foundation's Articles of Incorporation, IRS Determination Letter, and Bylaws are available upon request. Other Changes In Net Assets Or Fund Balances - Other Decreases Bad debt expense (pledge write-offs) = -$1956905 Charitable Remainder Trust 6 2390 Alumni Drive Unit 3206 Storrs CT 06269 Development CT N/A Trust false false false false false false false false false false false false false false false false false false false false Schedule R - Related Organizations While the mission of the Foundation is to support the University, under IRS instructions, the University does not meet the definition of a "related organization". The Foundation has nine ex-officio board members, six of whom serve by virtue of their position as a University employee. None of the six University employees are counted in determining quorum and none are entitled to vote on matters before the Board. No compensation is paid by the Foundation for their service as directors.