2020-11-13T10:39:42-06:00 2020-06-30 KPMG LLP 300 North Greene Street Suite 400 Greensboro NC 27401 990 2019-07-01 237310293 UNIVERSITY OF MISSISSIPPI FOUNDATION % MAGGIE ABERNATHY UNIV 6629155944 406 UNIVERSITY AVENUE OXFORD MS 38655 MAGGIE ABERNATHY CFO/TREASURER 6629155944 2020-11-12 true KAVITA GADA P01773072 3362753394 2020-11-11 199.206.0.5 56038220203185000007 2020-11-13 P 3C4CC46FCC3F287C58BAE9119CFFE5E9D34C597F 3C4CC46FCC3F287C58BAE9119CFFE5E9D34C597F 2019 2021-01-29 14:40:06Z MR WENDELL WEAKLEY 406 UNIVERSITY AVENUE OXFORD MS 38655 178107924 false X WWW.UMFOUNDATION.COM X 1973 MS THE FOUNDATION IS RESPONSIBLE FOR RECEIVING, RECEIPTING, INVESTING, AND DISTRIBUTING GIFTS FOR THE BENEFIT OF THE UNIVERSITY OF MISSISSIPPI. 36 35 20 35 -2137832 -2159926 47543446 58663178 2421225 3095911 18937222 19553395 221552 741467 69123445 82053951 33727460 30990989 0 0 3969442 3571968 0 106253 1883522 2016716 8586040 39713618 43255250 29409827 38798701 612293762 603814315 33168196 29235711 579125566 574578604 X THE UNIVERSITY OF MISSISSIPPI FOUNDATION IS A NONPROFIT CORPORATION CHARTERED IN 1973 BY THE STATE OF MISSISSIPPI TO OPERATE PRIMARILY FOR THE BENEFIT OF THE UNIVERSITY OF MISSISSIPPI. THE FOUNDATION IS RESPONSIBLE FOR RECEIVING, RECEIPTING, INVESTING AND DISTRIBUTING ALL GIFTS FOR THE BENEFIT OF THE UNIVERSITY OF MISSISSIPPI. IT PURSUES THIS MISSION IN AN ENVIRONMENT OF PRODUCTIVE TEAMWORK, EFFECTIVE COMMUNICATION, AND RELENTLESS SERVICE TO OUR DONORS, UNIVERSITY ADMINISTRATORS, FACULTY, STAFF AND STUDENTS. COMMUNICATION OF UNIVERSITY NEEDS AND PRIORITIES ALONG WITH ENCOURAGING INVESTMENT IN THE FUTURE OF OLE MISS ARE INTEGRAL TO OUR SUCCESS. INTEGRITY, HONOR, CIVILITY, SERVICE AND RESPECT FOR OUR DONORS AND THEIR WISHES SERVE AS THE FOUNDATION'S GUIDING PRINCIPLES. false false 19273188 11472452 UNIVERSITY PROGRAMS - TRANSFERS TO THE UNIVERSITY TO BE USED TO PROVIDE NON-ACADEMIC PROGRAMS AND ACTIVITIES, SUCH AS HONORS PROGRAMS, LIBRARIES, AND SPECIAL EVENTS. 9336811 9336811 SCHOLARSHIPS - TRANSFERS TO THE UNIVERSITY FOR DIRECT STUDENT FINANCIAL SUPPORT. 5183557 5183557 ACADEMIC EXCELLENCE - TRANSFERS TO UNIVERSITY ACADEMIC DEPARTMENTS FOR FACULTY AND GENERAL USE, ACCOUNTANCY, APPLIED SCIENCE, BUSINESS, EDUCATION, ENGINEERING, JOURNALISM, LAW, LIBERAL ARTS, MEDICAL CENTER, PHARMACY, OUTREACH, AND RESEARCH. 4743432 4998169 3095911 OTHER 4743432 4998169 3095911 38536988 true true false true false true false false false true true true false false true true true false false false false false false true true false false true false true false false false false false false false false true true false false true true true false false false true 207 0 true 20 true true true false false false false true true false false false false X 36 35 false false true false false false false true true false false true true true true true true true true false AK AR CA CO CT FL LA MD MA MS NH NJ NY OH UT WA WV X X MAGGIE ABERNATHY 6629155944 406 UNIVERSITY AVENUE OXFORD MS 38655 DR Jeffrey S Vitter Professor & Former Chancellor 40.0 0.0 X 450000 0 0 Wendell W Weakley PRESIDENT/CEO 40.0 0.0 X X 254934 0 56667 Ron Guest EXECUTIVE DIRECTOR 40.0 0.0 X 158005 0 35706 Maggie E Abernathy TREASURER/CFO 40.0 0.0 X 151000 0 32744 Lance Felker DIRECTOR OF IT 40.0 0.0 X 116750 0 26826 Anna Langley SECRETARY 40.0 0.0 X 110500 0 25805 Sandra Guest FORMER VICE PRESIDENT 40.0 0.0 X 109348 0 21290 John W Barrett DIRECTOR 0.01 0.0 X 0 0 0 John L Black JR DIRECTOR 0.01 0.0 X 0 0 0 Raymond L Brown Jr DIRECTOR 0.01 0.0 X 0 0 0 Larry H Bryan DIRECTOR 0.01 0.0 X 0 0 0 Roland O Burns Jr DIRECTOR 0.01 0.0 X 0 0 0 Lampkin Butts DIRECTOR 0.01 0.0 X 0 0 0 Charles Cannada DIRECTOR 0.01 0.0 X 0 0 0 W Hunter Carpenter DIRECTOR 0.01 0.0 X 0 0 0 Mary Susan Clinton DIRECTOR 0.01 0.0 X 0 0 0 Allen H Crosswell DIRECTOR 0.01 0.0 X 0 0 0 Martha Dowd Dalrymple DIRECTOR 0.01 0.0 X 0 0 0 Mike L Ducker DIRECTOR 0.01 0.0 X 0 0 0 S Lawrence Farrington DIRECTOR 0.01 0.0 X 0 0 0 Rose J Flenorl DIRECTOR 0.01 0.0 X 0 0 0 Don L Fruge DIRECTOR 0.01 0.0 X 0 0 0 Bill A Geary DIRECTOR 0.01 0.0 X 0 0 0 T Michael Glenn DIRECTOR 0.01 0.0 X 0 0 0 Mary Donnelly Haskell DIRECTOR 0.01 0.0 X 0 0 0 James W Hood DIRECTOR 0.01 0.0 X 0 0 0 Jamie G Houston DIRECTOR 0.01 0.0 X 0 0 0 Dr James E Keeton DIRECTOR 0.01 0.0 X 0 0 0 Edward A Krei DIRECTOR 0.01 0.0 X 0 0 0 Robert H Lampton DIRECTOR 0.01 0.0 X 0 0 0 C Matthew Lusco DIRECTOR 0.01 0.0 X 0 0 0 Susan C McCormick DIRECTOR 0.01 0.0 X 0 0 0 Michael T McRee DIRECTOR 0.01 0.0 X 0 0 0 Johnny P McRight DIRECTOR 0.01 0.0 X 0 0 0 Guy W Moore Jr DIRECTOR 0.01 0.0 X 0 0 0 Markeeva A Morgan DIRECTOR 0.01 0.0 X 0 0 0 Wilford A Payne III DIRECTOR 0.01 0.0 X 0 0 0 Renvy G Pittman DIRECTOR 0.01 0.0 X 0 0 0 Joe Frank Sanderson J DIRECTOR 0.01 0.0 X 0 0 0 Suzan B Thames DIRECTOR 0.01 0.0 X 0 0 0 Leigh Anne Tuohy DIRECTOR 0.01 0.0 X 0 0 0 Liz Triplett Walker DIRECTOR 0.01 0.0 X 0 0 0 1350537 0 199038 7 true true false RUFFALO NOEL LEVITZ PO BOX 71 DES MOINES IA 503030718 FUNDRAISING 282646 MCCARTY KING CONSTRUCTION PO BOX 88 TUPELO MS 388020088 CONSTRUCTION 192609 KPMG LLP PO BOX 120608 DALLAS TX 753120608 AUDIT AND TAX SERV. 142654 3 X 724758 3202500 54735920 8768194 58663178 EVENT TICKETS 611710 1781595 1781595 UMMC FUND 611710 1314316 1314316 3095911 9295945 -2137832 11433777 0 4243 4243 220000 79970 140030 0 140030 140030 105765804 165733 95493787 180300 10272017 -14567 10257450 10257450 897110 724758 299916 597194 597194 0 0 0 0 0 0 0 82053951 3095911 -2137832 22432694 X 30990989 30990989 0 0 0 674439 674439 0 2339310 790112 1549198 269420 269420 161116 161116 127683 127683 0 85301 85301 140902 140902 67441 67441 106253 106253 0 230036 230036 128625 44522 70575 13528 342807 248815 92296 1696 64686 64686 0 72295 4296 67999 453664 333696 4247 115721 0 9760 5575 50 4135 0 0 146098 146098 61583 61583 UMMC FUND EXPENSES 165162 72223 92939 DUES AND SUBSCRIPTIONS 21639 15629 6010 LAFAYETTE COUNTY - EEM FUNDS 6551899 6551899 OTHER 44142 44090 52 43255250 38536988 2834740 1883522 0 0 7472205 12974805 66606002 80841525 0 0 0 0 0 0 0 0 0 0 0 0 4663517 2571794 2297732 2091723 111111948 154077918 412956682 342276589 0 0 0 0 11849193 11551755 612293762 603814315 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 33168196 29235711 33168196 29235711 X 16019062 15782334 563106504 558796270 579125566 574578604 612293762 603814315 X 38798701 -44039328 693665 X false true X true false X 60467804 57704577 45671883 47543446 58663178 270050888 0 0 60467804 57704577 45671883 47543446 58663178 270050888 31551366 238499522 5427574 6863824 9389161 7365702 9520188 38566449 0 1772275 3504627 2411157 3135666 3993021 14816746 323434083 11690151 0.73740 0.81822 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 67441 67441 false SCHEDULE C, PART II-B, LINE 1I LOBBYING ACTIVITIES UNIVERSITY OF MISSISSIPPI FOUNDATION PAID SIDNEY ALLEN AND Kathryn Stewart WITH BUTLER, SNOW ET AL. TO BE A LOBBYIST ON ITS BEHALF. 1 4795366 5402500 1096018 true true false 401356097 10357996 -29755419 12244159 369714515 368832996 31196462 14168551 12841912 401356097 338448122 11898387 33273690 14787203 368832996 297720580 13816581 37563115 10652154 338448122 306050162 11134800 -10064001 10000381 297120580 0.03870 0.96130 false false 300000 300000 3092824 1802057 1290767 332146 322162 9984 938547 447575 490972 2091723 REAL ESTATE TYPE INVESTMENTS 3539381 F POOLED INVESTMENT FUNDS 338737208 F 342276589 0 FUNDS HELD FOR OTHERS 23079151 REMAINDER TRUST LIABILITES 3223775 OTHER LIABILITIES 2932785 29235711 X 39155947 -44039328 1141324 -42898004 82053951 82053951 43702909 447659 447659 43255250 43255250 PART V, LINE 4 INTENDED USE OF ORGANIZATION'S ENDOWMENT FUNDS THE FOUNDATION INTENDS TO USE THE ENDOWMENTS FOR THE BENEFIT OF THE UNIVERSITY OF MISSISSIPPI BY PROVIDING FUNDING FOR SCHOLARSHIPS AND OTHER UNIVERSITY ACTIVITIES. PART XI, LINE 2D OTHER RECONCILIATION OF REVENUE CREDIT CARD RECLASS 67,773 FUNDRAISING EXPENSE RECLASS 299,916 RENT RECLASS 79,970 CHANGE IN VALUE SPLIT-INTEREST AGREEMENTS 631,182 Change in CSV if Life Insurance 62,483 --------- 1,141,324 TOTAL PART XII, LINE 2D OTHER RECONCILIATION OF EXPENSES RENTAL RECLASS 79,970 CREDIT CARD RECLASS 67,773 FUNDRAISING EXPENSE RECLASS 299,916 -------- 447,659 TOTAL PART X, LINE 2 ASC 740 FOOTNOTE The Foundation is recognized as an organization exempt from federal income tax under Section 501(a) as an entity described in Section 501(c)(3) of the U.S. Internal Revenue Code, except for taxes on income from activities unrelated to its exempt purpose. Open tax years are those that are open for exam by taxing authorities. Major jurisdictions for the Foundation include Federal and the State of Mississippi. As of June 30, 2020, open Federal and Mississippi tax years for the Foundation include tax years ended June 30, 2016, 2017, and 2018. The Foundation has no examinations in progress. As of June 30, 2020 and 2019, there were no material uncertain tax positions. X X X X X true RUFFALO NOEL LEVITZ PHONE SOLICITING false 1072374 392166 680208 1072374 392166 680208 AL AK CA CO CT FL GA IL KS KY LA ME MD MA MI MN MS MO NH NJ NM NY NC ND OH OK OR SC UT WA WV UMF BLKBRY FARM 579502 579502 4000 7000 1500 UMF LEGACY EVNT 316223 253017 63206 7810 4000 4014 7 726143 471741 254402 43298 108989 8730 110575 1621868 724758 897110 55108 119989 8730 116089 299916 597194 true UNIVERSITY OF MISSISSIPPI 236 LYCEUM UNIVERSITY MS 38677 646001159 501(C)(3) 20809263 5183557 COMP SALES VARIOUS SEE PART IV UNIVERSITY OF MISS MEDICAL CENTER 2500 NORTH STATE STREET JACKSON MS 39216 646008520 501(C)(3) 4998169 SEE PART IV 2 PART I, LINE 2 MONITORING PROCEDURES OF FUNDS IN THE US THE UNIVERSITY OF MISSISSIPPI FOUNDATION DISBURSES FUNDS DIRECTLY TO THE UNIVERSITY OF MISSISSIPPI AS REQUESTED BY DEPARTMENTS WITHIN THE SCHOOL. FUNDS SENT TO THE UNIVERSITY AS A CASH GRANT ARE NOT DISBURSED WITHOUT THE FOUNDATION RECEIVING WRITTEN REQUEST AND PROPER APPROVAL AND AUTHORIZATION FROM THE DESIGNATED DEPARTMENT THE PAYMENT IS TO BENEFIT. THE UNIVERSITY OF MISSISSIPPI FOUNDATION DOES NOT MONITOR THE GRANTS DIRECTLY MADE TO THE UNIVERSITY ONCE THE MONEY IS DISBURSED. PART II, LINE 1 PURPOSE OF GRANTS GRANTS PAID TO THE UNIVERSITY OF MISSISSIPPI ACADEMIC EXCELLENCE: $5,183,557; UNIVERSITY SUPPORT: $11,472,452; SCHOLARSHIPS: $9,336,811; GRANTS PAID TO THE UNIVERSITY OF MISSISSIPPI MEDICAL CENTER TO FUND OPERATIONAL EXPENSES OF THE MEDICAL CENTER: $4,998,169. X X true false false false false false false false false Wendell W Weakley PRESIDENT/CEO 254934 0 0 0 0 0 40412 0 16255 0 311601 0 0 0 Maggie E Abernathy TREASURER/CFO 151000 0 0 0 0 0 25053 0 7691 0 183744 0 0 0 Sandra Guest FORMER VICE PRESIDENT 109348 0 0 0 0 0 16354 0 4936 0 130638 0 0 0 Ron Guest EXECUTIVE DIRECTOR 158005 0 0 0 0 0 26206 0 9500 0 193711 0 0 0 DR Jeffrey S Vitter Professor & Former Chancellor 450000 0 0 0 0 0 0 0 0 0 450000 0 0 0 PART 1, LINE 3 COMPENSATION PROCESS IN ORDER TO ESTABLISH THE COMPENSATION OF THE FOUNDATION'S PRESIDENT/CEO, PROPOSED ADJUSTMENTS, IF ANY, ARE PRESENTED TO THE EXECUTIVE COMMITTEE OF THE BOARD FOR INDIVIDUAL APPROVAL. THE FOUNDATION COMPARES THE SALARIES TO COMPARABLE POSITIONS AT THE UNIVERSITY TO DETERMINE ANY LARGE DISPARITIES OR DISCREPANCIES. ADDITIONALLY, THE FOUNDATION HAS A SALARY SURVEY PERFORMED BY A 3RD PARTY FOR UPPER MANAGEMENT TO ENSURE COMPENSATION IS IN LINE WITH OTHER PEER FOUNDATIONS. PART 1, LINE 4a DR. JEFFREY S. VITTER RECEIVED SEVERANCE PAYMENTS TOTALING $450,000. X 27 152760 ACTUAL X 15230 APPRAISAL X 500 ACTUAL X 82 7831233 ACTUAL X 6 20047 ACTUAL X COMPUTER SOFTWARE 1 331500 ACTUAL X EQUIPMENT 3 171958 ACTUAL X FLORAL ARRANGEMENTS 1 19643 ACTUAL X GIFT CARDS 2 2090 ACTUAL X PRINTING SERVICES 1 100000 ACTUAL X MEMORABILIA 1 150 ESTIMATES X RESEARCH DATA 1 25000 APPRAISAL X TRAVEL EXPENSES 6 98083 ACTUAL 3 false true true FORM 990, SCHEDULE M, QUESTION 32A USE OF THIRD PARTIES UNIVERSITY OF MISSISSIPPI FOUNDATION USES THIRD PARTY STOCK BROKERS TO PROCESS NON-CASH CONTRIBUTIONS. THE FOUNDATION ALSO USES THIRD PARTY VENDORS TO PROCESS ON-LINE GIFTS. OTHER PROGRAM SERVICES - PART III, LINE 4D OTHER PROGRAM EXPENSES - FUNDS TRANSFERRED FOR UNIVERSITY FACILITIES, SALARY, OFFICE, TRAVEL, PROMOTION, ETC. CHANGES TO GOVERNING DOCUMENTS: PART VI LINE 4 UNIVERSITY OF MISSISSIPPI FOUNDATION MADE THE FOLLOWING AMENDMENTS TO ITS BYLAWS: 1) UPDATED BOARD OF DIRECTORS FROM NOT LESS THAN 25 TO A minimum of 25 and maximum of 40 board of directors with majority of the board consisting of alumni of the University of Mississippi. 2) UPDATED board of directors TENURE FROM A minimum of a three-year term with no term limits TO two consecutive three-year terms, with the ability TO approve one additional term beyond the sixth year where continuation is deemed appropriate. 3) UPDATED QUORUM FROM no less than one third of the members to majority of voting members. 4) Added that consent must be signed by 2/3 of the directors and request for such consent shall be sent to all directors for consideration. 5) Incorporated that proxies will only be used for the sole purpose of establishing a quorum and will be counted as an abstention for voting purposes. 6) ADDED that the chair and chair-elect shall have been members of the board for at least two year and shall serve a two year term. The president/CEO, secretary, treasurer/CFO and any vice presidents shall serve a one-year term. 7) Expanded voting members of the committee to include the chairs of the audit and investment committees. 8) Added Nominating Committee and respective duties to by-laws. 9) The investment committee may include two members who are not active directors of the board. The secretary, treasurer/CFO and any vice presidents shall be staff representatives of the committee. Two members shall also have significant investment management expertise. The investment committee shall represent a component of the joint committee. The joint committee also includes representation of the university and university medical center. 990 REVIEW - PART VI LINE 11A THE AUDIT COMMITTEE RECEIVES THE FORM 990 FOR REVIEW PRIOR TO FILING OF THE RETURN. THE 990 IS ALSO EMAILED TO EACH MEMBER OF THE GOVERNING BODY PRIOR TO THE FILING. COMPLIANCE POLICY - PART VI, LINE 12C ANNUALLY, EACH BOARD MEMBER IS REQUIRED TO REVIEW THE FOUNDATION CONFLICT OF INTEREST POLICY. THIS IS DOCUMENTED BY A SIGNED CONFIRMATION STATEMENT FROM EACH MEMBER. PUBLIC AVAILABILITY OF DOCUMENTS - PART VI, LINE 19 THE FOUNDATION GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AS WELL AS POSTED TO THE FOUNDATION WEBSITE AT WWW.UMFOUNDATION.COM. CHANGES IN NET ASSETS - PART XI, LINE 9 CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 631,182 Change in ValuE OF CASH SURRENDER OF LIFE INSURANCE 62,483 -------- 693,665 TOTAL UNIV OF MISS FOUNDATION REALTY LLC 406 UNIVERSITY AVE OXFORD MS 38655 205945758 REAL ESTATE MS -125100 514900 UMF ISOM PLACE LLC 406 UNIVERSITY AVE OXFORD MS 38655 640865754 FACILITY RENT MS -101906 596726 UMF MISSISSIPPI COMMON FUND TRUST 406 UNIVERSITY AVENUE OXFORD MS 38655 640875827 FUNDRAISING MS 501(C)(3) PF UMF true UNIVERSITY OF MISSISSIPPI 216 LYCEUM UNIVERSITY MS 38677 646001159 PUBLIC UNIV. MS 501(C)(3) 2 NA false UNIV OF MISSISSIPPI MEDICAL CENTER 2500 NORTH STATE STREET JACKSON MS 39216 646008520 MEDICAL UNIV. MS 501(C)(3) 3 NA false OLE MISS ATHLETICS FOUNDATION PO BOX 355 UNIVERSITY MS 38677 640474850 ATHLETICS MS 501(C)(3) 5 NA false CHARITABLE REMAINDER UNITRUST (10) 406 UNIVERSITY AVENUE OXFORD MS 38655 TRUST MS UMF Trust CHARITABLE REMAINDER ANNUITY TRUST (2) 406 UNIVERSITY AVENUE OXFORD MS 38655 TRUST MS UMF Trust false true true false false false false false false true false true false false false false false false false UNIVERSITY OF MISSISSIPPI b 25992820 CASH PAID UNIVERSITY OF MISS MEDICAL CENTER b 4998169 CASH PAID MISSISSIPPI COMMON FUND TRUST c 3202500 CASH RECEIVED UNIVERSITY OF MISSISSIPPI j 284000 BILLING AGMT UNIVERSITY OF MISSISSIPPI l 450000 AFFL. AGMT SCHEDULE R, PART II, LINE 4 RELATED TAX-EXEMPT ORGANIZATIONS UNIVERSITY OF MISSISSIPPI FOUNDATION AND OLE MISS ATHLETICS FOUNDATION ARE DEEMED TO BE RELATED AS BROTHER/SISTER ORGANIZATIONS.