2019-03-14T10:25:44-07:00 2018-06-30 990 2017-07-01 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 2019-03-14 2017 2019-02-21 02:37:17Z Gerald Ganz Jr 69234992 false false X www.foundation.uconn.edu X 1964 CT The mission of The University of Connecticut Foundation, Inc. is to solicit, receive, invest, and administer gifts and financial resources from private sources for the benefit of all campuses and programs of the University of Connecticut. The Foundation operates exclusively to promote the educational, scientific, cultural, research, and recreational objectives of the University of Connecticut. As the primary fundraising vehicle to solicit and administer private gifts and grants to enhance the University's mission, the Foundation supports the University's pursuit of excellence in teaching, research, and public service. 47 46 208 63 -2474067 38506381 43775533 10290274 10767944 29071708 14283721 39168 5644 77907531 68832842 27001183 27924861 0 14815598 15997603 398644 357710 18317537 7858096 9515612 50073521 53795786 27834010 15037056 519082009 575624249 43506821 41194696 475575188 534429553 X The mission of The University of Connecticut Foundation, Inc. is to solicit, receive, invest, and administer gifts and financial resources from private sources for the benefit of all campuses and programs of the University of Connecticut. The Foundation operates exclusively to promote the educational, scientific, cultural, research, and recreational objectives of the University of Connecticut. As the primary fundraising vehicle to solicit and administer private gifts and grants to enhance the University's mission, the Foundation supports the University's pursuit of excellence in teaching, research, and public service. false false 9448819 9448819 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. 7480428 7480428 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. 7437018 7437018 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. 3558596 3558596 10767944 27924861 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 162 0 true 208 true true true true OC false false false true true true 2 false false false false false false false false false false X 47 46 false false true 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 President 40.00 0.00 X X 568628 0 30527 Gerald D DesRoches Dir to 10/2017 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 Dir fr 10/2017 1.00 0.00 X 0 0 0 Alan R Bennett Dir fr 10/2017 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 Dir fr 10/2017 1.00 0.00 X 0 0 0 George R Aylward Jr Director 1.00 0.00 X 0 0 0 Debra Hess Dir fr 10/2017 1.00 0.00 X 0 0 0 Harriet M Wolfe Director 1.00 0.00 X 0 0 0 John P Malfettone Director 1.00 0.00 X 0 0 0 Mickey Herbert Dir to 10/2017 1.00 0.00 X 0 0 0 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 Wendy Watkins Dir to 10/2017 1.00 0.00 X 0 0 0 Mark A Beaudoin Director 1.00 0.00 X 0 0 0 Clinton G Gartin Director 1.00 0.00 X 0 0 0 Constance Weaver Director 1.00 0.00 X 0 0 0 Mark C Sinatro Director 1.00 0.00 X 0 0 0 Daniel D Toscano Chairman 1.00 0.00 X X 0 0 0 Lincoln Millstein Director 1.00 0.00 X 0 0 0 Mary Ann W Gilleece Director 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 Director 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 Marsha P Roth Dir to 10/2017 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 Mark R Shenkman Dir to 10/2017 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 263401 0 42379 Jacob Lemon VP, COO 40.00 0.00 X 252204 0 39983 Brian Otis VP of Principal Gifts 40.00 0.00 X 218004 0 37112 Derek Slap VP Mktg & Comm 40.00 0.00 X 167257 0 19629 Jennifer Grey AVP Dev-HS 40.00 0.00 X 174990 0 21094 Ron Fleury Sr. Dir Dev-Law 40.00 0.00 X 141046 0 12651 Suzanne O'Conor General Counsel 40.00 0.00 X 242076 0 23679 Frank Gifford AVP Development 40.00 0.00 X 176650 0 34353 Melissa Maynard Former Interim CFO 40.00 0.00 X 111018 0 26089 2315274 287496 36 true true false Ruffalo Cody HoldingsRuffalo Noel Levitz PO Box 718 Des Moines IA 503030718 Phone solicitations 303927 Blackbaud Inc PO Box 930256 Atlanta GA 311930256 Software consulting 204735 StepStoneGroup LP 4275 Executive Square Ste 500 LaJolla CA 92037 Consulting 292500 OFI Contract Interiors 28 Garfield Street Newington CT 06111 Design Support 181617 Ovations Food Services LP 18228 US Hwy 41 N Lutz FL 33549 Catering 210872 15 738983 43036550 5880459 43775533 Univ. Endow Admin Fee 900099 287944 287944 Univ. Fee for Service 900099 10480000 10480000 10767944 10912511 10912511 0 0 0 3371210 3371210 3371210 -2494372 5865582 387489 738983 402150 -14661 -14661 0 0 Pre-tax parking benefit 900099 20305 20305 20305 68832842 10767944 -2474067 16763432 27924861 27924861 0 0 0 1452437 455568 996869 0 11331499 2266300 9065199 819045 163809 655236 1464541 292908 1171633 930081 186016 744065 0 61968 12394 49574 174869 174869 0 357710 357710 3011577 3011577 497942 99589 398353 56266 11253 45013 348052 69610 278442 1020191 204038 816153 0 294182 58836 235346 498189 99638 398551 0 151854 30371 121483 318840 63768 255072 0 1204787 240958 963829 99554 19911 79643 Special Events 988844 988844 Donor cultivation & promotion 317801 317801 Printing and Publications 276763 55353 221410 Club memberships & dues 114226 22845 91381 79707 13777 65930 53795786 27924861 7553388 18317537 13951918 6948129 902595 7297018 26562296 22916988 521138 224157 0 0 0 100640 8400 435911 407271 11638690 6576896 5522169 5061794 189206691 222395858 128715793 156660023 0 0 153162858 153704611 519082009 575624249 6566820 7019956 19955000 12500000 16882798 17403073 4271667 102203 43506821 41194696 X -540708 -81387 99232103 124058118 376883793 410452822 475575188 534429553 519082009 575624249 X 15037056 21652987 22164322 X false true X true false X 34817846 33051328 42383683 38506381 43775533 192534771 0 0 34817846 33051328 42383683 38506381 43775533 192534771 4285857 188248914 9827124 8710287 8761282 12382769 10912511 50593973 20305 20305 0 243149049 47827532 0.77420 0.80170 X false false 610 610 53795176 53795786 1000000 250000 false 1000000 1000000 1000000 1000000 4000000 6000000 34696 1075 2804 610 39185 250000 250000 250000 250000 1000000 1500000 30000 1075 2804 610 34489 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 401505076 36134103 32249710 15587590 7809032 446492267 362419000 16697000 42316000 13024000 6903000 401505000 368179000 19358000 -4768000 13755000 6595000 362419000 369444000 8242000 7957000 12749000 4715000 368179000 330178000 11719000 43520000 12173000 3800000 369444000 0.00500 0.97610 0.01890 false false false 201361 201361 6372170 2804031 3568139 1012310 340860 671450 31108 25923 5185 4021741 3406082 615659 5061794 156660023 Capital leases 42628 CSV of life insurance policies 600796 Deferred bond issuance costs 117238 Endowment held for University 15098682 Funds held in trust by others 24572528 Limited partnership investments 113214252 Note payable loan costs 58487 153704611 110040724 21652987 19152745 40805732 69234992 -402150 -402150 68832842 51186359 402150 402150 50784209 3011577 3011577 53795786 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 XI, Line 2d: Other revenue amounts included in F/S but not included on form 990 Bad debt expense $-1342477 Investment fees $-3011577 Assets transferred from Law School Fdn $23506799 Part XII, Line 2d: Other expenses and losses per audited F/S Event expense $402150 Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S Investment fees $3011577 East Asia & the Pacific 0 0 Fundraising 166168 North America 0 0 Fundraising 71656 Central America & Caribbean 0 0 Investments 12337880 Europe 0 0 Fundraising 55043 12630747 12630747 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 369255 112882 256373 Gold Orluk & Partners LLC 172 West Main Street Avon CT 06001 Event Planner false 267101 69389 197712 636356 182271 454085 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 Dee Rowe Event 239750 210265 29485 18442 22268 13737 Geno Auriemma Leadership Conference 151950 108200 43750 23705 25497 17 734772 420518 314254 47310 104435 145146 300 1310 1126472 738983 387489 47310 146582 192911 300 15047 402150 -14661 STM01 As required, the Foundation is reporting all events that had income or expenses during the fiscal year. It is possible that some events may have taken place in the prior fiscal year, or will be held in a future year. As a result, revenue or expense amounts reported for an event may not be final, or portions may have been reported in the prior year. true University of Connecticut 352 Mansfield Road Unit 2048 Storrs CT 06269 060772160 27924861 0 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 193004 25000 17800 19312 255116 Derek Slap VP Mktg & Comm 167257 13448 6181 186886 Frank Gifford AVP Development 176650 14904 19449 211003 Gerald Ganz Jr Sr. VP Fin/Adm 243401 20000 21600 20779 305780 Jacob Lemon VP, COO 247204 5000 20400 19583 292187 Jennifer Grey AVP Dev-HS 174990 14210 6884 196084 Joshua Newton President 440653 127975 21600 8927 599155 Melissa Maynard Former Interim CFO 111018 8388 17701 137107 Ron Fleury Sr. Dir Dev-Law 141046 11510 1141 153697 Suzanne O'Conor General Counsel 202076 40000 20000 3679 265755 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 B CHEFA 060806186 20774UJD8 2007-01-23 7252762 Refunding Series A false false false A 7500000 20000000 270526 19729474 false false true true B 7974994 7974994 502944 236705 7235346 false true true true A false false false false false false false false true B false false false false false false false false true A false true false false false true B false true false false false true A true B true Part VI Part IV 2c Arbitrage - The Series B bonds were defeased on 10/27/2017 and there is no rebate due. 238862 Resale Value X 344 5605290 Market Value Events 11 36307 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, Vice Chair, Chair of the Nominating and Board Governance Committee, Foundation President, 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 plan for merger, approve sale, lease, exchange, or other disposition of all, or substantially all, of the property, approve a proposal to dissolve the Corporation. Form 990, Part VI, Line 4: Description of Significant Changes to Organizational Documents Effective 10/20/2017, the position of Senior Vice President for Development was added as a corporation officer and the position of Vice President of Finance and Administration was changed to Senior Vice President of Finance and Administration. 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 HR Committee of the Board of Directors, and subsequently, 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 either Committee. The Committees rely on appropriate comparability data in determining the reasonableness of the compensation packages. Minutes adequately documenting the basis for the HR Committee's and the Executive Committee's decisions are maintained. The approval of compensation packages occurs in 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 and on the Electronic Municipal Market Access system (EMMA), which is available to the public. The Foundation also posts an annual report and annual debt filing on EMMA. 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 = -$1342477 Other Changes In Net Assets Or Fund Balances - Other Increases The UConn Law School Fdn transferred assets & operations to = $0 Other Changes In Net Assets Or Fund Balances - Other Increases The University of Connecticut Foundation on 7/1/2017 = $23506799 Charitable Remainder Trust 7 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 ten 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.