2020-11-05T17:22:52-06:00 2020-06-30 410746749 CLIFTONLARSONALLEN LLP 402 SOUTH KENTUCKY AVENUE SUITE 600 LAKELAND FL 338015354 990 2019-07-01 646022505 UNIVERSITY OF SOUTHERN MISSISSIPPI FOUNDATION UNIV 6012665210 118 COLLEGE DRIVE 5210 HATTIESBURG MS 39406 STACE MERCIER EXECUTIVE DIRECTOR 6012665210 2020-11-03 1 LAUREN BALLARD CPA P01451787 8636805600 2020-10-23 67.137.57.251 2020-11-03 13:04:51 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 5FBB9CE86024E96F455FD228C10009FF6DBCA2E3 2019 2021-01-29 14:40:06Z STACE MERCIER 118 COLLEGE DRIVE 5210 HATTIESBURG MS 39406 20333715 0 X WWW.USMFOUNDATION.COM X 1959 MS BUILD RELATIONSHIPS WITH ALUMNI AND FRIENDS IN ORDER TO SECURE PRIVATE FUNDS FOR THE BENEFIT OF USM. 31 31 0 70 0 0 5655552 6751559 0 0 5060173 4707996 23161 -59135 10738886 11400420 6443045 6733885 0 0 100270 10000 205082 222737 639473 2954002 3021310 9702399 9987932 1036487 1412488 140081501 141162152 911704 692720 139169797 140469432 TO BUILD RELATIONSHIPS WITH ALUMNI AND FRIENDS IN ORDER TO SECURE PRIVATE FUNDS AND OTHER RESOURCES FOR THE BENEFIT OF THE UNIVERSITY OF SOUTHERN MISSISSIPPI (USM). THE FOUNDATION RECEIVES, INVESTS AND DISTRIBUTES PRIVATE GIFTS IN SUPPORT OF THE UNIVERSITY'S MISSION. 0 0 6733885 6733885 0 PROVIDE SCHOLARSHIPS, GRANTS AND TRANSFERS TO SUPPORT THE UNIVERSITY OF SOUTHERN MISSISSIPPI. 1500428 0 0 OTHER DESIGNATED ITEMS, COMMODITIES AND CONTRACTUAL SERVICES IN SUPPORT OF THE UNIVERSITY OF SOUTHERN MISSISSIPPI. 8234313 1 1 0 1 0 0 0 0 0 1 1 1 0 1 1 1 0 1 0 0 1 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 0 1 82 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 31 31 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 CA KY MA MD MI MN NH NJ NY OR RI UT DC X X LESLEE SMITH 6012665210 118 COLLEGE DRIVE 5210 HATTIESBURG MS 39406 MR DUANE LOCK PRESIDENT 0.80 X X 0 0 0 MRS KRISTY GOULD VICE PRESIDENT 0.80 X X 0 0 0 MR EUGENE G GOUAUX III TREASURER 0.60 X X 0 0 0 MR JIM WARREN IMMEDIATE PAST PRESIDENT 0.50 X X 0 0 0 MR JEFF BOWMAN BOARD MEMBER 0.50 X 0 0 0 MRS JULIE C BREAZEALE BOARD MEMBER 0.60 X 0 0 0 MRS HALEY BROOM BOARD MEMBER 0.40 X 0 0 0 MS SHONNA BROWN BOARD MEMBER 0.40 X 0 0 0 MR STEPHEN J CARMODY BOARD MEMBER 0.30 X 0 0 0 MR MAX DRAUGHN BOARD MEMBER 0.50 X 0 0 0 MR LOUIS V R EHRLICH MEMBER-AT-LARGE 0.80 X 0 0 0 MR STAN HARRELL BOARD MEMBER 0.30 X 0 0 0 MR VERDELL HAWKINS BOARD MEMBER 0.30 X 0 0 0 MR DOC HOLLIDAY BOARD MEMBER 0.40 X 0 0 0 MR WADE C HOWK JR BOARD MEMBER 0.50 X 0 0 0 MR CHRIS INMAN INVESTMENT COMMITTEE CHAIR 0.70 X 0 0 0 MS JULIE E LENNON BOARD MEMBER 0.50 X 0 0 0 MR SHANE P MCCARTHY BOARD MEMBER 0.50 X 0 0 0 MS KIMBERLY NASTASI BOARD MEMBER 0.40 X 0 0 0 MR GEORGE OPENSHAW BOARD MEMBER 0.30 X 0 0 0 MR JOE QUINLAN RESOURCE DEVELOPMENT CHAIR 0.80 X 0 0 0 MR KELSEY L RUSHING POLICY AND BYLAWS COMMITTEE CHAIR 0.50 X 0 0 0 MR JASON SANDERSON BOARD MEMBER 0.50 X 0 0 0 MR CHARLES C SCIANNA JR BOARD MEMBER 0.60 X 0 0 0 MR STEVE STRICKLAND BOARD MEMBER 0.60 X 0 0 0 MR TOMMY THORNTON BOARD MEMBER 0.30 X 0 0 0 HON SEAN J TINDELL BOARD MEMBER 0.30 X 0 0 0 MR GILBERT C VAN LOON BOARD MEMBER 0.60 X 0 0 0 MR BILL WARD BOARD MEMBER 0.30 X 0 0 0 DR ALVIN WILLIAMS BOARD MEMBER 0.30 X 0 0 0 MR ALVIS A WRIGHT II BOARD MEMBER 0.30 X 0 0 0 STACE MERCIER EXECUTIVE DIRECTOR/SECRETARY 40.00 X 0 128370 25591 LESLEE SMITH CHIEF FINANCIAL OFFICER 40.00 X 0 78862 25982 0 207232 51573 0 0 1 0 SEI 1 FREEDOM VALLEY DR OAKS PA 19456 INVESTMENT MANAGEMENT FEES 557403 BLACKBAUD INC PO BOX 930256 ATLANTA GA 311930256 SOFTWARE SERVICES - HOSTING AND MAINTENA 403095 RUFFALOCODY HOLDINGS LLC PO BOX 718 DES MOINES IA 503030718 TELEMARKETING AND DATA GATHERING SERVICE 176937 3 92114 6659445 637040 6751559 2807765 2807765 10718891 26500 8785525 59635 1933366 -33135 1900231 1900231 25896 92114 88135 -62239 -62239 MISCELLANEOUS INCOME 900099 3104 3104 3104 11400420 0 0 4648861 X 6607992 6607992 125893 125893 10000 4000 6000 31142 31142 44744 44744 19365 19365 222737 222737 627804 627804 604658 429578 40974 134106 177930 105343 46556 26031 72947 39202 21984 11761 121322 7676 56814 56832 191470 121121 11014 59335 238261 166267 57416 14578 52610 19164 33446 35704 15449 18331 1924 CAPITAL OUTLAY 477809 465549 12260 DUES AND SUBSCRIPTIONS 165832 45167 43745 76920 MEALS AND ENTERTAINMENT 62217 44190 3062 14965 BAD DEBT EXPENSES 58600 58600 38895 22357 2254 14284 9987932 8234313 1114146 639473 2675234 2663184 8871876 6970246 346115 255920 960850 653816 404544 307034 103463321 99959692 13621594 18282623 10698817 12723453 140081501 141162152 675423 589498 236281 103222 911704 692720 X 11751897 12553396 127417900 127916036 139169797 140469432 140081501 141162152 X 1412488 -2274894 2162041 X 0 1 X 1 0 X 10935422 8397357 15574635 5655552 6751559 47314525 10935422 8397357 15574635 5655552 6751559 47314525 13276445 34038080 2197446 2080224 2703382 2623559 2807765 12412376 69077 74538 489773 30833 3104 667325 60394226 0.56360 0.56240 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: QUID PRO QUO - 2015 AMOUNT: $ 40,030. 2016 AMOUNT: $ 56,690. 2017 AMOUNT: $ 53,734. BP SETTLEMENT - 2017 AMOUNT: $ 430,000. MISCELLANEOUS INCOME - 2015 AMOUNT: $ 29,047. 2016 AMOUNT: $ 17,848. 2017 AMOUNT: $ 6,039. 2018 AMOUNT: $ 30,833. 2019 AMOUNT: $ 3,104. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 19365 19365 0 PART II-B, LINE 1: THE USM FOUNDATION DID NOT DIRECTLY ATTEMPT TO INFLUENCE NATIONAL, STATE OR LOCAL LEGISLATION, BUT DID PROVIDE FUNDING TO ONE UNIVERSITY PAID LEGISLATIVE ADVOCATE. NUMEROUS EXPENDITURES WERE MADE MOSTLY FOR MEALS AND TRAVEL. THE UNIVERSITY ALSO HOSTS STATE LEGISLATORS THROUGHOUT THE YEAR ON CAMPUS. 104877602 2589320 1068803 2205386 1209442 1603029 103517868 100915283 3824004 5160193 2217346 1304119 1500413 104877602 94750962 3703696 6690262 2049264 775575 1557324 100762757 83295901 5484165 10526767 1948672 1217349 1389850 94750962 82872941 4995140 -835134 1762495 828690 1145861 83295901 0.03810 0.87560 0.08630 0 0 22000 22000 16072 16072 0 51533 871245 637744 285034 307034 HEDGE FUNDS 12553972 F PRIVATE EQUITY 1492076 F REAL ESTATE INVESTMENT FUNDS 4236575 F 18282623 DUE FROM EXTERNALLY MANAGED TRUSTS 9969592 OTHER RECEIVABLES 42233 CSV OF LIFE INSURANCE POLICIES 2711628 12723453 GIFT ANNUITIES PAYABLE 103222 103222 X 12837734 -2274894 2089836 2250176 2065118 10772616 627804 627804 11400420 11538099 2089836 88135 2177971 9360128 627804 627804 9987932 PART V, LINE 4: PROVIDE CONSISTENT SUPPORT TO THE UNIVERSITY FOR PURPOSES INTENDED BY DONORS. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME UNDER INTERNAL REVENUE CODE SECTION 501(A) AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3). FOUNDATION AVIATION HOLDINGS, LLC IS DISREGARDED AS AN ENTITY SEPARATE FROM THE FOUNDATION FOR PURPOSES OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. AS OF JUNE 30, 2020 AND 2019, THERE WERE NO MATERIAL UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF OTHER ASSETS 46,224. SPECIAL EVENT EXPENSES 88,135. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 2,115,817. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 88,135. PART V, LINE 1A, COLUMN B THE FOUNDATION RESTATED ITS NET ASSETS AS OF JULY 1, 2018. THE BEGINNING BALANCE OF ENDOWMENT NET ASSETS WAS INCREASED BY $152,526 TO RECLASSIFY THE ENDOWMENT EARNINGS THAT HAD NOT BEEN ALLOCATED TO INDIVIDUAL ENDOWMENT FUNDS AS OF JUNE 30, 2018. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 7532246 0 0 0 0 0 0 7532246 0 7532246 0 0 0 0 0 0 PART I, LINE 3: INVESTMENT EXPENDITURES ARE ACCOUNTED FOR ON AN ACCRUAL BASIS. PART III ACCOUNTING METHOD: X X X X X X 1 MARTS & LUNDY 1200 WALLSTREET WEST LYNDHURST NJ 07071 CAMPAIGN CONSULTING 0 6693704 50935 6642769 RUFFALOCODY HOLDINGS LLC PO BOX 718 DES MOINES IA 50303 TELEMARKETING AND DATA GATHERING SERVICES 0 57855 171802 -113947 6751559 222737 6528822 AK AL AR CA CO CT DC FL GA HI IL KS KY ME MA MD MI MN MO MS NC ND NH NJ NM NV OH OK OR PA RI TN UT VA WA WV WI LA NY SC GOLF TOURNAMENT 50655 34681 15974 1765 3449 5070 5600 1100 11415 RODEO 33550 29368 4182 657 486 2 33805 28065 5740 6186 27918 930 23559 118010 92114 25896 1765 4106 11256 34004 2030 34974 88135 -62239 1 THE UNIVERSITY OF SOUTHERN MISSISSIPPI 118 COLLEGE DRIVE 5143 HATTIESBURG MS 39406 646000818 501(C)(3) 6455090 145897 VARIOUS TRANSFERS OF GIFTS OF PROPERTY USM PROGRAMS THE UNIVERSITY OF SOUTHERN MISSISSIPPI ALUMNI ASSOCIATION 118 COLLEGE DRIVE 5013 HATTIESBURG MS 39406 640763097 501(C)(3) 7005 0 N/A N/A USM ALUMNI PROGRAMS 2 0 DISASTER ASSISTANCE - TORNADO 24 19891 0 N/A N/A DISASTER ASSISTANCE - COVID-19 13 4175 0 N/A N/A MONETARY AWARDS 3 4363 0 N/A N/A EMERGENCY RELIEF 1 77 0 N/A N/A EXCELLENCE FOR SOUTHERN MISS FUND GRANTS 9 97387 0 N/A N/A PART I, LINE 2: THE FOUNDATION MONITORS THE USE OF FUNDS BY REQUIRING DOCUMENTATION FROM AUTHORIZED SPENDING AUTHORITIES TO SUBSTANTIATE THAT ALL MONIES PAID FOR PROGRAM SUPPORT ARE USED FOR THE PURPOSES OUTLINED IN THE DOCUMENTS GOVERNING THE FUNDS FROM WHICH THE WITHDRAWAL IS BEING MADE. THESE PURPOSES INCLUDE SCHOLARSHIPS, GENERAL SUPPORT FOR ACADEMIC DIVISIONS, RESEARCH, FACULTY AND STAFF COMPENSATION AND OTHER RESTRICTED SUPPORT FOR PROGRAMS AT THE UNIVERSITY OF SOUTHERN MISSISSIPPI. 0 0 0 0 0 0 0 0 0 STACE MERCIER EXECUTIVE DIRECTOR/SECRETARY 0 126010 0 0 0 2360 0 20936 0 4655 0 153961 0 0 PART I, LINE 3 THE UNIVERSITY OF SOUTHERN MISSISSIPPI, A RELATED ORGANIZATION, PROVIDES COMPENSATION FOR ALL WHO WORK FOR THE FOUNDATION, INCLUDING THE EXECUTIVE DIRECTOR. THE PROCESS FOR DETERMINING COMPENSATION, REVIEW AND APPROVAL, AND SUBSTANTIATION OF THIS DELIBERATION AND DECISION IS HANDLED BY THE UNIVERSITY. THIS WAS LAST COMPLETED IN 2019. X 1 1575 FAIR MARKET VALUE X 1 87000 APPRAISAL X 620 COMPARABLE SALES X 18 477198 AVERAGE STOCK PRICE X FURNITURE AND EQUIPMENT 7 53174 FAIR MARKET VALUE X CSV OF LIFE INSURANCE 1 13947 CASH SURRENDER VALUE X VARIOUS 3 3526 FAIR MARKET VALUE 1 0 1 1 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS WAS USED TO COMPLETE PART I, COLUMN (B) OF SCHEDULE M. FOR CONTRIBUTIONS OF SECURITIES, EACH GIFT WAS COUNTED SEPARATELY (RATHER THAN EACH SHARE RECEIVED). PART I, LINE 32B: THE FOUNDATION EMPLOYS REALTORS TO LIST AND SELL CONTRIBUTIONS OF REAL ESTATE. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE CONSISTS OF NINE MEMBERS, ONE OF WHOM SHALL BE THE PRESIDENT OF THE FOUNDATION, WHO SHALL BE THE CHAIR, ONE OF WHOM SHALL BE THE VICE PRESIDENT, ONE OF WHOM SHALL BE THE TREASURER, ONE OF WHOM SHALL BE THE IMMEDIATE PAST PRESIDENT, ONE OF WHOM SHALL BE THE MEMBER-AT-LARGE, ONE OF WHOM SHALL BE THE CHAIR OF THE INVESTMENT COMMITTEE, ONE OF WHOM SHALL BE THE CHAIR OF THE RESOURCE DEVELOPMENT COMMITTEE, ONE OF WHOM SHALL BE THE CHAIR OF THE POLICY AND BYLAWS COMMITTEE, AND ONE OF WHOM SHALL BE THE NON-VOTING, EX-OFFICIO SECRETARY. THE BOARD SHALL MANAGE THE BUSINESS OF THE FOUNDATION. ALL CORPORATE POWERS OF THE FOUNDATION SHALL BE EXERCISED BY OR UNDER THE AUTHORITY OF THE BOARD, AND THE OFFICERS OF THE FOUNDATION SHALL BE SUPERVISED UNDER THE DIRECTION OF THE BOARD. THE BOARD SHALL BE CHARGED WITH THE MANAGEMENT AND DIRECTION OF THE AFFAIRS OF THIS FOUNDATION, WITH THE GENERAL DUTY OF PROMOTING THE WELFARE AND GROWTH OF THE UNIVERSITY OF SOUTHERN MISSISSIPPI AND WITH CARRYING OUT THE PURPOSES OF THE FOUNDATION. THE PRESIDENT OF THE FOUNDATION, OR HIS/HER DESIGNEE, SHALL HAVE THE SOLE AUTHORITY TO SPEAK OR ISSUE PUBLIC STATEMENTS CONCERNING OFFICIAL POSITIONS TAKEN BY THE BOARD. FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS OF THE UNIVERSITY OF SOUTHERN MISSISSIPPI FOUNDATION WERE AMENDED AS FOLLOWS: THE USE OF THE TERM STAFF WAS CLARIFIED IN THE CONFLICT OF INTEREST POLICY SECTION AND A DISSOLUTION PARAGRAPH WAS ADDED AS ARTICLE XI. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE ORGANIZATION'S PUBLIC ACCOUNTING FIRM BASED ON INFORMATION SUPPLIED BY MANAGEMENT. ONCE THE DRAFT IS REVIEWED BY MANAGEMENT, THE FINANCE COMMITTEE AND EXECUTIVE COMMITTEE RECEIVED THE FORM 990 DRAFT FOR REVIEW PRIOR TO BEING FILED. COMMENTS WERE ADDRESSED AND THE FORM WAS UPDATED AS NECESSARY. A COMPLETE COPY OF THE FORM 990 WAS PROVIDED TO ALL BOARD MEMBERS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS EACH MEMBER OF THE BOARD AND EACH MEMBER OF ALL COMMITTEES SIGNS A WRITTEN STATEMENT CERTIFYING THAT HE/SHE AGREES AND IS IN COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE OR SHE SHALL LEAVE THE BOARD, COMMITTEE, SUBCOMMITTEE OR COUNCIL MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD, COMMITTEE, SUBCOMMITTEE OR COUNCIL MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS; PROVIDED, HOWEVER, IF THE INTERESTED PERSON BELIEVES A CONFLICT OF INTEREST EXISTS, THE BOARD, COMMITTEE, SUBCOMMITTEE OR COUNCIL SHALL BE GUIDED BY THE BELIEF OF THE INTERESTED PERSON IN REACHING ITS DECISION. DETERMINATION OF A CONFLICT OF INTEREST FOR STAFF SHALL BE MADE BY THE EXECUTIVE COMMITTEE. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD, COMMITTEE, SUBCOMMITTEE OR COUNCIL MEETING, BUT AFTER SUCH PRESENTATION, HE/SHE MUST LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT THAT RESULTS IN THE CONFLICT OF INTEREST. THE MINUTES OF THE BOARD AND ALL COMMITTEES, SUBCOMMITTEES OR COUNCILS WITH BOARD-DELEGATED POWERS SHALL CONTAIN: (A) THE NAMES OF THE PERSONS WHO DISCLOSED OR OTHERWISE WERE FOUND TO HAVE A FINANCIAL INTEREST IN CONNECTION WITH AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST., THE NATURE OF THE FINANCIAL INTEREST, ANY ACTION TAKEN TO DETERMINE WHETHER A CONFLICT OF INTEREST WAS PRESENT AND THE DECISIONS OF THE BOARD, COMMITTEE, SUBCOMMITTEE OR COUNCIL AS TO WHETHER A CONFLICT OF INTEREST IN FACT EXISTED. (B) THE NAMES OF THE PERSONS WHO WERE PRESENT FOR DISCUSSIONS OR VOTES RELATING TO THE TRANSACTION OR ARRANGEMENT, THE CONTENT OF THE DISCUSSION, INCLUDING ANY ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT AND A RECORD OF ANY VOTES TAKEN IN CONNECTION THEREWITH. DURING THE FISCAL YEAR, THERE WERE NO KNOWN CONFLICT OF INTERESTS IDENTIFIED. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY OF SOUTHERN MISSISSIPPI FOUNDATION'S BYLAWS, CONFLICT OF INTEREST POLICY, FORM 990 AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC ON THE FOUNDATION'S WEBSITE. FORM 990, PART VI, SECTION B, LINE 15: THE UNIVERSITY OF SOUTHERN MISSISSIPPI, A RELATED ORGANIZATION, PROVIDES COMPENSATION FOR ALL WHO WORK FOR THE FOUNDATION, INCLUDING THE EXECUTIVE DIRECTOR. THE PROCESS FOR DETERMINING COMPENSATION, REVIEW AND APPROVAL, AND SUBSTANTIATION OF THIS DELIBERATION AND DECISION IS HANDLED BY THE UNIVERSITY. THIS WAS LAST COMPLETED IN 2019. FORM 990, PART IX: THE EXPENSES REPORTED IN PART IX COLUMN (B) LINES 11-25 REFLECT EXPENSES PAID ON BEHALF OF THE UNIVERSITY. FORM 990, PART VII/PART IX: THE FOUNDATION DOES NOT REPORT WITHIN THE STATEMENT OF REVENUES AND STATEMENT OF FUNCTIONAL EXPENSES CONTRIBUTED SALARIES AND THE CORRESPONDING EXPENSES ASSOCIATED WITH INDIVIDUALS WORKING ON FOUNDATION AFFAIRS SINCE THESE INDIVIDUALS ARE EMPLOYEES OF THE UNIVERSITY AND THE UNIVERSITY DONATES THE SALARIES AND COSTS OF EMPLOYMENT TO THE FOUNDATION. THE AMOUNT REPORTED IN PART IX, LINE 7 REFLECTS REIMBURSEMENTS MADE BY THE FOUNDATION TO THE UNIVERSITY FOR SUPPLEMENTAL PAY. AS SUCH, TAXES AND BENEFITS ARE PROCESSED AND REPORTED THROUGH THE UNIVERSITY. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF OTHER ASSETS 46,224. CHANGE IN SPLIT INTEREST AGREEMENTS 2,115,817. FOUNDATION AVIATION HOLDINGS LLC 118 COLLEGE DR 5210 HATTIESBURG MS 39406 263637085 LEASING MS -18554 275747 USM FOUNDATION THE UNIVERSITY OF SOUTHERN MISSISSIPPI 118 COLLEGE DR 5143 HATTIESBURG MS 39406 646000818 EDUCATION MS 501(C)(3) LINE 2 N/A 0 BMC AND KC CRAT 202 SOUTH 40TH AVENUE HATTIESBURG MS 39402 646207876 INVESTMENTS MS N/A T 71546 0.60910 0 JEG CRAT 1581 AMERIPRISE FINANCIAL CENTER MINNEAPOLIS MN 55474 207371805 INVESTMENTS MS N/A T 110830 0.32530 0 EDK CRUT 11301 US HIGHWAY ONE NORTH PALM BEACH FL 33408 656419443 INVESTMENTS FL N/A T 221027 0.88410 0 P-JP CRUT 150 S WARNER RD SUITE 200 KING OF PRUSSIA PA 19406 816588160 INVESTMENTS AZ N/A T 159092 0.36650 0 P-MP CRUT 150 S WARNER RD SUITE 200 KING OF PRUSSIA PA 19406 816591136 INVESTMENTS AZ N/A T 7988305 0.67660 0 JR TRUST PO BOX 1071 HATTIESBURG MS 39403 836144563 INVESTMENTS MS N/A T 1360795 1.00000 0 0 1 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 PART VI, COLUMN G THE AMOUNT IN THIS COLUMN IS CALCULATED AS THE PRESENT VALUE OF THE UNIVERSITY OF SOUTHERN MISSISSIPPI FOUNDATION'S BENEFICIAL INTEREST IN EACH CHARITABLE REMAINDER TRUST DIVIDED BY THE TOTAL ASSETS OF EACH TRUST AS OF JUNE 30, 2020, WITH THE EXCEPTION OF ONE TRUST IN WHICH THE PRESENT VALUE EXCEEDED THE JUNE 30, 2020, BALANCE. FOR THIS TRUST, THE TRUST'S ENDING BALANCE WAS USED IN COLUMN G. PART VI, COLUMN H: THE AMOUNT IN THIS COLUMN IS CALCULATED BY DIVIDING THE PRESENT VALUE OF THE UNIVERSITY OF SOUTHERN MISSISSIPPI FOUNDATION'S BENEFICIAL INTEREST BY THE TOTAL AMOUNT OF THE CHARITABLE REMAINDER TRUST WITH THE EXCEPTION OF THE TRUST IN WHICH THE PRESENT VALUE EXCEEDED THE JUNE 30, 2020, BALANCE. FOR THIS TRUST, THE PERCENTAGE OWNERSHIP WAS SHOWN AS 100%.