2020-05-15T15:28:51-05:00 2019-06-30 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 1570 FRUITVILLE PIKE SUITE 400 LANCASTER PA 17601 990 2018-07-01 233054174 WEST CHESTER UNIVERSITY FOUNDATION WEST 6104362868 202 CARTER DRIVE WEST CHESTER PA 19382 CINDY RAY CFO 6104362868 2020-05-15 1 KERRI N BOGDA CPA P00760402 7177404863 73.187.220.225 2020-05-15 13:12:27 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 BF90B4BE16E9AE312C0D8383967EBAED4A365E8B 2018 2020-09-23 17:36:50Z CHRISTOPHER MOMINEY 202 CARTER DRIVE WEST CHESTER PA 19382 17755992 0 X WWW.WCUFOUNDATION.ORG X 2000 PA PROMOTE THE CHARITABLE, SCIENTIFIC, AND EDUCATIONAL INTERESTS OF WEST CHESTER UNIVERSITY. 25 25 133 144 3434 1432 10150918 10284238 2114692 2164168 697017 958680 41236 -48379 13003863 13358707 4122662 3929511 0 0 2921328 2924635 0 0 1398049 2441548 1997715 9485538 8851861 3518325 4506846 42923176 47573034 5421558 5070162 37501618 42502872 X THE FOUNDATION WAS FORMED TO PROMOTE THE CHARITABLE, SCIENTIFIC, AND EDUCATIONAL INTERESTS OF WEST CHESTER UNIVERSITY. THE FOUNDATION ACHIEVES THIS BY SOLICITING FUNDS AND OTHER PROPERTY IN ACCORDANCE WITH PRIORITIES ESTABLISHED BY THE UNIVERSITY. 0 0 5719295 3929511 2164168 THE FOUNDATION'S PROGRAM SERVICE ACCOMPLISHMENTS DURING FISCAL YEAR JUNE 30, 2019 WERE:THE FOUNDATION RAISED OVER $9.8 MILLION IN CONTRIBUTIONS FOR WEST CHESTER UNIVERSITY:- OVER $2 MILLION OF THE $9.8 MILLION RAISED WAS DIRECTED TO ENDOWMENTS FOR THE BENEFIT OF FUTURE STUDENT SCHOLARSHIPS AND FUTURE SUPPORT FOR UNIVERSITY PROGRAMS AND ACTIVITIES. $1.177 MILLION IN SCHOLARSHIPS WERE AWARDED TO OVER 1,000 STUDENTS BASED ON CRITERIA DETERMINED BY DONORS. MANY OF THE SCHOLARSHIP RECIPIENTS COULD NOT EXPERIENCE THE OPPORTUNITIES AND BENEFITS OF A HIGH QUALITY WEST CHESTER UNIVERSITY EDUCATION WITHOUT THESE SCHOLARSHIPS.- FUNDS RAISED ALSO BENEFITED PROGRAMS AND ACTIVITIES SUCH AS ACADEMIC AND CULTURAL PROGRAMS, ATHLETIC PROGRAMS, JOINT UNDERGRADUATE STUDENT AND FACULTY RESEARCH, STUDENT AND FACULTY CONFERENCE ATTENDANCE, STUDENT PARTICIPATION IN NATIONAL TOURNAMENTS, PROFESSIONAL DEVELOPMENT, AND OTHER STUDENT SERVICES. 5719295 1 1 0 1 0 0 0 0 0 1 1 0 0 1 0 1 0 1 0 0 1 1 0 0 1 1 0 1 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 71 0 133 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 25 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK CA CO DC FL KY MD MA MI ME MN ND NV NH NY OH OR OK PA SC UT WA WI X CINDY RAY CFO 6104304156 202 CARTER DRIVE WEST CHESTER PA 19382 CHRISTINE WARREN TRUSTEE 0.20 0.20 X 0 0 0 COLONEL DEBORAH J CHASE VICE PRESIDENT 0.20 0.20 X X 0 0 0 DAVID HOLVECK TRUSTEE 0.20 0.20 X 0 0 0 DR DONALD E LEISEY TRUSTEE 0.20 0.20 X 0 0 0 DR MAURY HOBERMAN TRUSTEE 0.20 0.20 X 0 0 0 EDWARD N COLLISON TRUSTEE 0.20 0.20 X 0 0 0 FRANK BRANCA TRUSTEE 0.20 0.20 X 0 0 0 J ALAN BUTCHER TRUSTEE 0.20 0.20 X 0 0 0 JAMES SHINEHOUSE TRUSTEE 0.20 0.20 X 0 0 0 DR JOAN M KAMINSKI TRUSTEE 0.20 0.20 X 0 0 0 JOHN H BAKER SECRETARY 0.20 0.20 X X 0 0 0 JOHN N NICKOLAS TRUSTEE 0.20 0.20 X 0 0 0 KATHLEEN LEIDHEISER TREASURER 0.20 0.20 X X 0 0 0 LEWIS RAIBLEY III TRUSTEE 0.20 0.20 X 0 0 0 MAY VAN TRUSTEE 0.20 0.20 X 0 0 0 MICHAEL PEICH TRUSTEE 0.20 0.20 X 0 0 0 MILLIE CASSIDY TRUSTEE 0.20 0.20 X 0 0 0 PAUL D EMRICK TRUSTEE 0.20 0.20 X 0 0 0 PAULA SHAFFNER ESQ PRESIDENT 0.20 0.20 X X 0 0 0 ROGER WARE TRUSTEE 0.20 0.20 X 0 0 0 TAHANY NAGGAR TRUSTEE 0.20 0.20 X 0 0 0 KEITH BEALE TRUSTEE 0.20 0.20 X 0 0 0 THOMAS A FILLIPPO TRUSTEE 0.20 0.20 X 0 0 0 DR SANDRA MATHER TRUSTEE 0.20 0.20 X 0 0 0 ROBERT PLUCIENIK TRUSTEE 0.20 0.20 X 0 0 0 DR JOHN A GONTARZ TRUSTEE (RES. MARCH '19) 0.20 0.20 X 0 0 0 CHRISTOPHER MOMINEY CEO (BEGAN 9/4/18) 18.75 18.75 X 30614 30614 13048 JENNIFER COFFEY CFO (UNTIL 9/16/19) 18.75 18.75 X 69139 67139 46502 SUSAN VANSCOVICH INTERIM EXECUTIVE DIRECTOR 37.50 X 187611 0 40106 CINDY RAY CFO (BEGAN 2/1/2020) 0.00 0.00 X 0 0 0 MEREDITH SOSSMAN CHIEF DEVELOPMENT OFFICER 37.50 X 95779 15404 20856 383143 113157 120512 1 0 1 0 ARAMARK SERVICES INC 700 SOUTH HIGH STREET WEST CHESTER PA 19383 FOOD SERVICES 238580 GREENWOODASHER & ASSOCIATES INC 42 BUSINESS CENTER DRIVE STE 206 MIRAMAR FL 32550 EXECUTIVE SEARCH SVC 101370 2 189222 2559090 29250 7506676 389358 10284238 CONTRACT REVENUE 611710 1591000 1591000 ADVANCEMENT ASSOCIATE REIMBURSEME 611710 403253 403253 WCU FACILITY COORDINATION 611710 147566 147566 NC EVENT REVENUE 611710 18865 18865 SPONSORSHIP REVENUE 611710 3484 3484 2164168 941761 1269 940492 212849 290278 -77429 -77429 2165 -79594 3919086 3902167 16919 16919 16919 173572 189222 204840 -31268 -31268 59497 0 59497 59497 OTHER REVENUE 900099 821 821 821 13358707 2164168 3434 906867 2687048 2687048 1197195 1197195 45268 45268 305220 305220 1871905 646941 371777 853187 166078 50729 36088 79261 395482 114293 59922 221267 185950 58402 50587 76961 57841 57841 25287 25287 89167 89167 231901 140864 69749 21288 16792 11945 1366 3481 247613 178952 43796 24865 132488 32995 48421 51072 107839 11928 95911 100557 86063 14494 109437 109437 278491 278491 45535 2533 43002 MEALS AND ENTERTAINMENT 325049 292446 32603 PRIZES AND AWARDS 137050 134863 1273 914 LICENSES, FEES, DEV 40980 5032 9753 26195 PROFESSIONAL DEVELOP. 35401 8296 3178 23927 16287 13502 1648 1137 8851861 5719295 1734517 1398049 566040 516148 8310544 9349296 3023298 3312138 172935 297996 2439 2829 85608 112437 10177774 2402926 8099121 7774848 16412329 21178508 6250862 5028834 42923176 47573034 708070 625881 4678002 4444281 35486 0 5421558 5070162 X 11319639 12052345 13204149 12721610 12977830 17728917 37501618 42502872 42923176 47573034 X 4506846 633162 -138754 X 0 1 X 1 0 X 4346213 6434346 9802175 10513811 10284238 41380783 164372 122677 287049 4510585 6557023 9802175 10513811 10284238 41667832 3108399 38559433 629799 668320 490146 883807 1130799 3802871 1432 1432 159022 200876 237956 204959 233890 1036703 46508838 11236864 0.82910 0.85860 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: PARKING LOT LEASE - 2014 AMOUNT: $ 6,792. OTHER REVENUE - 2014 AMOUNT: $ 8,812. 2017 AMOUNT: $ 1,036. 2018 AMOUNT: $ 821. NON-CHARITABLE FUNDRAISING RECEIPTS - 2014 AMOUNT: $ 143,418. 2015 AMOUNT: $ 200,876. 2016 AMOUNT: $ 237,956. 2017 AMOUNT: $ 203,923. 2018 AMOUNT: $ 233,069. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 0 9013837 37915495 9013837 37915495 600692 1000000 150173 250000 0 0 0 0 1000000 1000000 1000000 1000000 4000000 6000000 3617 7244 10861 250000 250000 250000 250000 1000000 1500000 15989983 3809454 1288100 352749 212501 20522287 14901883 681702 956323 317077 232848 15989983 12538450 1034880 1725658 145241 251864 14901883 11650679 1136051 86221 219996 114505 12538450 10291989 1382045 236360 167321 92394 11650679 0.00000 0.82000 0.18000 0 0 832595 832595 8721773 1870557 6851216 623406 532369 91037 7774848 SPLIT-INTEREST AGREEMENTS 1852101 OTHER ASSETS 80616 DUE FROM AFFILIATE 2947967 DUE FROM WEST CHESTER UNIVERSITY 148150 5028834 X 14421041 633162 -65946 567216 13853825 -495118 -495118 13358707 9419787 657093 657093 8762694 89167 89167 8851861 PART V, LINE 4: FIFTY-NINE PERCENT OF THE ENDOWMENT FUNDS ARE USED TO PROVIDE SCHOLARSHIPS AND FINANCIAL AID TO WEST CHESTER UNIVERSITY STUDENTS. FORTY-ONE PERCENT OF THE ENDOWMENT FUNDS ARE USED TO PROVIDE OPERATING FUNDS FOR VARIOUS WEST CHESTER UNIVERSITY DEPARTMENTS. PART X, LINE 2: MANAGEMENT HAS EVALUATED SUBSTANTIVE TAX POSITIONS TAKEN BY THE FOUNDATION AS OF JUNE 30, 2019 AND 2018. A TAX POSITION IS RECOGNIZED AS A BENEFIT ONLY IF IT IS "MORE-LIKELY-THAN-NOT" THAT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT HAS A LIKELIHOOD OF BEING REALIZED ON EXAMINATION OF MORE THAN 50 PERCENT. FOR TAX POSITIONS NOT MEETING THE "MORE-LIKELY-THAN-NOT" TEST, NO TAX BENEFIT IS RECORDED. MANAGEMENT BELIEVES NO SIGNIFICANT UNCERTAIN TAX POSITIONS EXIST, EITHER INDIVIDUALLY OR IN THE AGGREGATE, THAT WOULD GIVE RISE TO THE NON-RECOGNITION OF AN EXISTING TAX BENEFIT. AS OF JUNE 30, 2019 AND 2018, THE FOUNDATION HAD NO MATERIAL UNRECOGNIZED TAX BENEFITS OR LIABILITIES. THE FOUNDATION'S AND USH'S FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS FOR 2018, 2017 AND 2016 REMAIN SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THE DATE THE RETURNS WERE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 23,221. INVESTMENT FEES -89,167. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSE -290,278. FUNDRAISING EXPENSES -204,840. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 290,278. FUNDRAISING EXPENSES 204,840. WRITE-OFF OF PLEDGES 161,975. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT FEES 89,167. SCHEDULE D, PARTS XI, XII AND XIII THE ORGANIZATION DID NOT PARTICIPATE IN SEPARATE, STAND-ALONE AUDITED FINANCIAL STATEMENTS. CONSOLIDATING SCHEDULES ARE LOCATED IN THE BACK OF THE CONSOLIDATED AUDITED FINANCIAL STATEMENTS. SCHEDULE D PARTS XI, XII, AND XIII, ALTHOUGH NOT REQUIRED, HAVE BEEN PREPARED TO RECONCILE THESE CONSOLIDATING SCHEDULES TO THE FINANCIAL INFORMATION ON THIS FORM 990. 1 SUB-SAHARAN AFRICA 0 0 GRANTMAKING CONSTRUCTION OF A WEST CHESTER UNIVERSITY FIELD RESEARCH STATION IN THE KINIH, COMMUNITY BASED SUPPORT 45268 0 0 0 0 0 0 45268 0 45268 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, CONSTRUCTION OF THE SHINEHOUSE GISHWATI RESEARCH STATION IN THE KINIHIRA VILLAGE ADJACENT TO GISHWATI NATIONAL PARK FOR USE BY FACULTY AND STUDENTS OF WEST CHESTER UNIVERSITY AND OTHER EDUCATIONAL INSTITUTIONS. 8350 WIRE TRANSFER 0 SUB-SAHARAN AFRICA COMMUNITY BASED, PEER SUPPORT INTERVENTION FOR ADOLESCENT MOTHERS IN HARARE, ZIMBABWE. US INDIVIDUALS WENT TO HARARE, TO DEVELOP AND TEST IN PARTNERSHIP WITH ADOLESCENT MOTHERS, COMMUNITY HEALTH WORKERS AND COMMUNITY STAKEHOLDERS A COMMUNITY-BASED PEER-SUPPORT INTERVENTION TARGETING ADOLESCENT MOTHERS AGED 14-18 YEARS IN MABVUKU, HARARE, ZIMBABWE 36918 WIRE TRANSFER 0 2 0 0 0 0 0 0 SCHEDULE F, SECTION I, LINE 3: THE FOUNDATION'S MISSION IS TO OFFER GRANTS FOR FACULTY AND STUDENT COLLABORATIVE RESEARCH PROJECTS. THE BUILDING OF THIS RESEARCH STATION BEGAN THROUGH ONE OF THOSE GRANTS. THE FOUNDATION MAINTAINS RECORDS TO SUBSTANTIATE THE GRANT AWARD PROCESS AND THE FUNDS PROVIDED. FUNDS ARE MONITORED THROUGH ON-SITE VISITS TO THE RESEARCH STATION, FINANCIAL REPORTING TO THE UNIVERSITY AND FOUNDATION ON THE USE OF THE FUNDS, AND REGULAR COMMUNICATION WITH THE RESEARCH STATION BY FACULTY MEMBERS COORDINATING USE OF THE STATION. PRESIDENTIAL GALA 215201 132339 82862 88992 15747 QUARTERBACK CLASSIC GOLF OUTING 30666 12121 18545 17238 109 7 104686 42391 62295 50814 6500 16938 350553 186851 163702 157044 6500 32794 196338 -32636 59497 0 59497 59497 PA 1 0 1 0 1.00000 CINDY RAY CO WEST CHESTER UNIVERSI 202 CARTER DRIVE WEST CHESTER PA 19382 0 VARIES BASED ON THE UNIVERSITY DEPT SEE PART IV - SUPPLEMENTAL INFORMATION X 0 SCHEDULE G, PART III, LINE 16, DESCRIPTION OF SERVICES PROVIDED: PERSONS IN CHARGE OF GAMING OPERATIONS ARE EMPLOYEES OF WEST CHESTER UNIVERSITY AND WCU FOUNDATION. DUTIES INCLUDE DESIGNING AND ORDERING RAFFLE TICKETS, RECORDING DISTRIBUTION OF RAFFLE TICKETS, SUBSEQUENT COLLECTION OF REMAINING TICKETS AND CASH, COUNTING AND RECONCILING CASH, AND AWARDING PRIZES. TIME SPENT IN GAMING ACTIVITIES AS A PERCENTAGE OF TOTAL TIME IS VERY MINIMAL. 1 WEST CHESTER UNIVERSITY OF PENNSYLVANIA 700 SOUTH HIGH STREET WEST CHESTER PA 19383 232417773 170(C)(1) 1994460 228112 COST AND APPRAISALS DONATIONS TO BE USED IN THE OPERATIONS OF THE UNIVERSITY TO PROMOTE THE VARIOUS EXEMPT PURPOSES OF WEST CHESTER UNIVERSITY WEST CHESTER UNIVERSITY STUDENT SERVICES INC WCU SYKES UNION BLDG E ROSEDALE WEST CHESTER PA 19383 232490021 501(C)(3) 308577 TO PROMOTE THE VARIOUS EXEMPT PURPOSES OF STUDENT SERVICES, INC. WEST CHESTER UNIVERSITY ALUMNI ASSOCIATION 202 CARTER DRIVE WEST CHESTER PA 19382 231287817 501(C)(3) 63471 TO PROMOTE THE VARIOUS EXEMPT PURPOSES OF WEST CHESTER UNIVERSITY ALUMNI ASSOCIATION ACEER FOUNDATION 202 CARTER DRIVE WEST CHESTER PA 19382 631045786 501(C)(3) 50300 TO PROMOTE THE VARIOUS EXEMPT PURPOSES OF ACEER FOUNDATION 4 0 SCHOLARSHIP FOR STUDENTS OF WEST CHESTER UNIVERSITY. 950 1176870 HONORARIUMS TO SPEAKERS, VISITING ARTISTS, AND STUDENTS AT WEST CHESTER UNIVERSITY 75 20325 PART I, LINE 2: GRANTS AND OTHER ASSISTANCE INCLUDE AWARDS, PRIZES, STIPENDS, SCHOLARSHIPS, AND SIMILAR PAYMENTS AND DISTRIBUTIONS THAT THE FOUNDATION MAKES TO WEST CHESTER UNIVERSITY, ITS AFFILIATES, AND ITS STUDENTS. WRITTEN GUIDELINES FOR EACH RESTRICTED FUND DEFINE THE DONOR-RESTRICTED PURPOSE AND PARAMETERS OF THE FUND. DISBURSEMENTS FROM THESE FUNDS REQUIRE THE RECIPIENT TO SUBMIT VERIFIABLE AND INDEPENDENT DOCUMENTATION THAT MEET THE GUIDELINE CRITERIA. THE SUBMISSION IS VERIFIED BY FOUNDATION STAFF FOR COMPLIANCE WITH THE GUIDELINES PRIOR TO DISBURSEMENT TO THE RECIPIENT. PART II: WEST CHESTER UNIVERSITY FOUNDATION DISTRIBUTES DONOR-RESTRICTED FUNDS TO WEST CHESTER UNIVERSITY TO USE FOR CAPITAL PROJECTS. THE FOUNDATION ALSO DISTRIBUTES DONOR RESTRICTED FUNDS TO DESIGNATED AFFILIATED ENTITIES OF WEST CHESTER UNIVERSITY. ALL ENTITIES THAT RECEIVE FUNDS FROM WEST CHESTER UNIVERSITY FOUNDATION HAVE INTERNAL CONTROLS TO ENSURE MONIES ARE PROPERLY ALLOCATED AND USED. ON OCCASION WEST CHESTER UNIVERSITY FOUNDATION PROVIDES SMALL GRANTS TO OTHER NON-PROFIT ORGANIZATIONS. THE FOUNDATION MAKES EVERY EFFORT TO OBTAIN INDEPENDENT VERIFICATION THAT THE FUNDS WERE USED IN COMPLIANCE WITH THE FOUNDATION'S EXPECTATIONS. X X X X 1 0 0 1 0 0 0 0 0 JENNIFER COFFEY CFO (UNTIL 9/16/19) 67139 67139 2000 0 0 0 6330 6330 16921 16921 92390 90390 0 0 SUSAN VANSCOVICH INTERIM EXECUTIVE DIRECTOR 167611 0 20000 0 0 0 16996 0 23110 0 227717 0 0 0 PART I, LINE 4A CHIEF DEVELOPMENT OFFICER, MEREDITH SOSSMAN RECEIVED A SEVERANCE PAYMENT DURING THE YEAR IN THE AMOUNT OF $70,454 UPON HER DEPARTURE FROM THE ORGANIZATION. PART I, LINE 5 THE PREVIOUS EXECUTIVE DIRECTOR'S CONTRACT PROVIDES FOR THE FOLLOWING BONUSES: 1. ANNUAL BONUS BASED ON THE AMOUNT OF GIFT INCOME RECEIVED ABOVE THE ESTABLISHED TOTAL FUNDRAISING GOAL FOR EACH YEAR. THE AMOUNT IS BASED ON EXCEEDING CERTAIN THRESHOLDS. 2. ANNUAL BONUS BASED ON THE OCCUPANCY RESULTS FOR UNIVERSITY STUDENT HOUSING-OWNED RESIDENCE HALLS. THE AMOUNT OF BONUS IS BASED UPON OCCUPANCY THRESHOLDS. 3. BONUS AT THE COMPLETION OF A HOUSING CONSTRUCTION PROJECT IF THE CERTIFICATE OF OCCUPANCY IS RECEIVED PRIOR TO THE SCHEDULED STUDENT MOVE-IN DAY. X 1 28000 APPRAISAL X 13813 COST X 9 105817 NYSE X 1 27500 APPRAISAL X 163 80167 PURCHASE PRICE X CHEMICAL SUPPLIES 1 65780 COST X SCIENCE EQUIPMENT 1 49999 COST X AUCTION ITEMS 80 17447 COST/APPRAISALS X OTHER MISCELLANEOUS 1 835 COST 1 0 1 0 PART I, COLUMN (B): THE NUMBERS IN COLUMN B REPRESENT THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE IS COMPOSED OF THE OFFICERS OF THE WCU FOUNDATION, THE PRESIDENT OF WEST CHESTER UNIVERSITY (WCU), THE VICE PRESIDENT FOR ADVANCEMENT & SPONSORED RESEARCH, THE VICE PRESIDENT FOR ADMINISTRATION AND FINANCE, AND THE EXECUTIVE DIRECTOR OF WCU FOUNDATION. THE EXECUTIVE COMMITTEE IS AUTHORIZED TO ACT FOR THE BOARD BETWEEN ITS REGULAR MEETINGS. THE EXECUTIVE COMMITTEE HAS AND MAY EXERCISE ALL OF THE POWERS AND AUTHORITY OF THE BOARD IN THE MANAGEMENT OF THE FOUNDATION. FORM 990, PART VI, SECTION B, LINE 11B THE CHIEF FINANCIAL OFFICER REVIEWS THE 990 DRAFT IN DETAIL. ONCE THE FINAL 990 HAS BEEN APPROVED BY THE CHIEF FINANCIAL OFFICER, THE DRAFT 990 IS PROVIDED TO EACH TRUSTEE FOR REVIEW AND COMMENTS IN ADVANCE OF THE FILING DEADLINE. ONCE THE TRUSTEES HAVE HAD TIME TO REVIEW THE RETURN, THE FORM 990 IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY CONFLICT-OF-INTEREST FORMS ARE COMPLETED BY EACH TRUSTEE AND OFFICER DISCLOSING CIRCUMSTANCES THAT MIGHT DISSUADE THEM FROM ACTING IN THE BEST INTEREST OF WEST CHESTER UNIVERSITY FOUNDATION. IN ADDITION, TRUSTEES SHALL MAKE PROMPT AND FULL DISCLOSURE TO THE BOARD OF A PROSPECTIVE SITUATION THAT MAY INVOLVE A CONFLICT OF INTEREST AS SOON AS THAT CONFLICT IS KNOWN. THIS DISCLOSURE SHOULD BE MADE A MATTER OF THE RECORD, EITHER THROUGH AN ANNUAL PROCEDURE OR WHEN THE INTEREST BECOMES A MATTER OF BOARD ACTION. IF A CONFLICT OF INTEREST SHOULD ARISE, THE EXECUTIVE DIRECTOR AND THE BOARD MEMBER SHOULD PROMPTLY RESOLVE THE MATTER AND THE RESOLUTION SHOULD BE RECORDED IN THE MINUTES OF THE BOARD. TRUSTEES WITH CONFLICTS SHALL REMOVE THEMSELVES FROM NEGOTIATIONS, DECISIONS, DELIBERATIONS, OR VOTES INVOLVING THE CONFLICT. THIS SHALL NOT BE CONSTRUED AS PREVENTING THE TRUSTEE FROM STATING HIS POSITION IN THE MATTER OR FROM ANSWERING PERTINENT QUESTIONS FROM THE BOARD WHEN HIS/HER KNOWLEDGE MAY BE OF ASSISTANCE. FAMILY AND BUSINESS RELATIONSHIPS ARE EXPLICITLY MENTIONED IN THE POLICY AS SOURCES OF POTENTIAL CONFLICTS. MANAGERS AND EMPLOYEES ARE EXPECTED TO VOLUNTEER CONFLICTS OF INTEREST AS THEY ARISE TO THE EXECUTIVE DIRECTOR. THE EXECUTIVE DIRECTOR DETERMINES WHETHER A CONFLICT OF INTEREST EXISTS, AND REQUESTS THE MANAGER OR EMPLOYEE TO RECUSE HIMSELF FROM TOPICS AND VOTING ON ISSUES RELATED TO THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE DIRECTOR'S COMPENSATION IS APPROVED IN ADVANCE BY THE BOARD OF TRUSTEES' NOMINATING AND HUMAN RESOURCE COMMITTEE. PRIOR TO MAKING THE DETERMINATION, THE COMMITTEE OBTAINS COMPENSATION DATA OF AT LEAST THREE COMPARABLE ORGANIZATIONS IN SIMILAR COMMUNITIES FOR SIMILAR SERVICE. IN ADDITION, BOARD MEMBERS ARE INVITED TO OFFER FEEDBACK TO THE COMMITTEE ON THE PERFORMANCE-BASED GOALS ESTABLISHED FOR THE POSITION. THE COMMITTEE DOCUMENTS THE BASIS FOR ITS DECISION CONCURRENTLY WITH MAKING THE DETERMINATION. COMPENSATION IS DEFINED IN THE EXECUTIVE DIRECTOR'S THREE-YEAR EMPLOYMENT CONTRACT. IN SEPTEMBER 2018, A ONE-YEAR CONTRACT WAS EXECUTED FOR THE PERIOD SEPTEMBER 1, 2018 THROUGH AUGUST 31, 2019 AND AMENDED ON JULY 1, 2019 TO EXTEND THROUGH JUNE 30, 2021. THE CHIEF FINANCIAL OFFICER AND OTHER KEY EMPLOYEE COMPENSATION IS EVALUATED BY THE BOARD AS PART OF THE PROCESS USED TO DETERMINE THE COMPENSATION FOR THE ORGANIZATION'S EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 23,221. WRITE-OFF OF PLEDGES -161,975. UNIVERSITY STUDENT HOUSING LLC PO BOX 541 WEST CHESTER PA 19381 820571540 STUDENT HOUSING PA 501(C)(3) LINE 12A, I WEST CHESTER UNIVERSITY FOUNDATION 1 0 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1 UNIVERSITY STUDENT HOUSING LLC C 2559090 COST UNIVERSITY STUDENT HOUSING LLC D 2947966 COST UNIVERSITY STUDENT HOUSING LLC O 323942 COST UNIVERSITY STUDENT HOUSING LLC Q 488244 COST UNIVERSITY STUDENT HOUSING LLC S 3301201 COST UNIVERSITY STUDENT HOUSING 202 CARTER DRIVE WEST CHESTER PA 19382 820571540 0 0 0 28901658 28901658 1000000 250000 0 0 0