2019-05-22T14:29:22-05:00 2018-06-30 560574444 CHERRY BEKAERT LLP 200 SOUTH 10TH ST STE 900 RICHMOND VA 23219 990 2017-07-01 540169627 UNIVERSITY OF MARY WASHINGTON FOUNDATION UNIV 5404791893 1125 JEFFERSON DAVIS HIGHWAY NO 200 FREDERICKSBURG VA 22401 GREGORY A BRANNER CHIEF FINANCIAL OFFICER/TREAS. 5404791892 2019-05-22 1 AMANDA ADAMS P00748038 8046735700 38.142.98.34 2019-05-22 12:33:08 ED P A482873BA72857B1682F9AFE3BFE99CE8598992D 18694F53AD11E15FFCEA276DE93F63B2E746D691 2017 2019-02-21 02:37:17Z JEFF W ROUNTREE 1125 JEFFERSON DAVIS HIGHWAY NO 200 FREDERICKSBURG VA 22401 36853836 0 X WWW.UMWF.ORG X 1975 VA TO RECEIVE, HOLD, AND ADMINISTER FUNDS AND PROPERTY OF ALL KINDS, FOR THE FURTHERANCE OF THE OBJECTIVES OF THE UNIVERSITY OF MARY WASHINGTON. 37 37 6 0 -583672 -583672 5847449 4871076 8605168 9083603 1077152 2265662 210541 273816 15740310 16494157 4721794 6065260 0 0 1596539 1790050 0 0 405380 8866558 11204045 15184891 19059355 555419 -2565198 178564338 173793947 144105586 135951200 34458752 37842747 TO RECEIVE, HOLD, INVEST, ADMINISTER AND DISTRIBUTE FUNDS AND PROPERTY OF ALL KINDS, EXCLUSIVELY IN FURTHERANCE OF THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF THE UNIVERSITY OF MARY WASHINGTON. 0 0 16475496 6065260 9083603 THE UMW FOUNDATION SERVES AS THE PRIVATE ASSET MANAGER FOR THE UNIVERSITY OF MARY WASHINGTON. THE FOUNDATION MANAGES ALL OF THE UNIVERSITY'S PRIVATELY DONATED CASH AND INVESTMENTS AS WELL AS BEING ENGAGED IN REAL ESTATE ACQUISITION, DEVELOPMENT AND MANAGEMENT ON BEHALF OF THE INSTITUTION. 16475496 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 0 0 1 0 0 1 0 0 0 0 1 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 139 1 1 6 1 1 1 0 0 0 0 0 0 0 0 0 X 37 37 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 0 VA X X THE ORGANIZATION 5404791893 1125 JEFFERSON DAVIS HIGHWAY NO 200 FREDERICKSBURG VA 22401 KATHLEEN SHEPHERD MEHFOUD CHAIRMAN OF THE BOARD 0.30 X X 0 0 0 EDWARD V ALLISON JR VICE CHAIRMAN 0.30 X X 0 0 0 DORI EGLEVSKY SECRETARY 0.30 X X 0 0 0 MONA D ALBERTINE DIRECTOR 0.10 X 0 0 0 LLOYD T BACKSTROM DIRECTOR 0.10 X 0 0 0 F EUGENE BAILEY DIRECTOR 0.10 X 0 0 0 ROBERT J BARRY ESQ DIRECTOR 0.10 X 0 0 0 ROSS BIERKAN DIRECTOR 0.10 X 0 0 0 LISA J BOWLING DIRECTOR 0.10 X 0 0 0 MICHAEL A CIRAMI DIRECTOR 0.10 X 0 0 0 DR THERESA Y CRAWLEY DIRECTOR 0.10 X 0 0 0 KEVIN ELY DIRECTOR 0.10 X 0 0 0 HON JOSEPH W GRZEIKA DIRECTOR 0.10 X 0 0 0 SAMUEL C HARDING JR DIRECTOR 0.10 X 0 0 0 FLORIAN N HOFER DIRECTOR 0.10 X 0 0 0 LEE E KELLEY DIRECTOR 0.10 X 0 0 0 PATRICIA B KEMP DIRECTOR 0.10 X 0 0 0 MARK KUECHLER DIRECTOR 0.10 X 0 0 0 DIANA R LIVINGSTON DIRECTOR 0.10 X 0 0 0 CAROL M MARTEL DIRECTOR 0.10 X 0 0 0 ANGELA MILLS DIRECTOR 0.10 X 0 0 0 LYNNE W NEAVE DIRECTOR 0.10 X 0 0 0 DONALD H NEWLIN DIRECTOR 0.10 X 0 0 0 DR TROY D PAINO DIRECTOR 0.10 X 0 0 0 ANDREW PAINTER DIRECTOR 0.10 X 0 0 0 DR LYNNE RICHARDSON DIRECTOR 0.10 X 0 0 0 FRED M RANKIN III DIRECTOR 0.10 X 0 0 0 PATRICIA B REVERE DIRECTOR 0.10 X 0 0 0 XAVIER R RICHARDSON DIRECTOR 0.10 X 0 0 0 MONECIA H SHELTON DIRECTOR 0.10 X 0 0 0 LISA B SOLTIS DIRECTOR 0.10 X 0 0 0 ANNE MARIE STEEN DIRECTOR 0.10 X 0 0 0 STEVE STEINBERG DIRECTOR 0.10 X 0 0 0 JEANE BAUGHAN STONE DIRECTOR 0.10 X 0 0 0 SEAN M TUFFY DIRECTOR 0.10 X 0 0 0 DR H CONRAD WARLICK DIRECTOR 0.10 X 0 0 0 SYLVIA H M WOODCOCK DIRECTOR 0.10 X 0 0 0 JEFF W ROUNTREE CEO 65.00 X 277531 0 40630 GREGORY A BRANNER CFO/TREASURER 60.00 X 137529 0 34334 SHANNON C WILLIAMS CONTROLLER 45.00 X 108214 0 13442 523274 0 88406 3 0 1 0 DONLEY'S LLC 7325 BEUFONT SPRINGS DRIVE STE 325 RICHMOND VA 23225 CONSTRUCTION 384229 HOLLAND ROOFING OF CINCINNATI 7450 INDUSTRIAL ROAD FLORENCE KY 41042 CONSTRUCTION 370530 ARTEMIS WEALTH ADVISORS LLC 168 5TH AVE NEW YORK NY 10010 INVESTMENT CONSULTING 245420 SODEXO INC & AFFILIATES 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20903 CATERING 184407 AVI-SPL 540 HUNTMAR PARK DRIVE STE B HERNDON VA 20170 TECHNOLOGY 135870 7 4871076 1074694 4871076 STUDENT DORM RENTAL 532000 7511635 7511635 FACULTY RENTAL INCOME 532000 668843 668843 MANAGEMENT FEES 523000 415133 415133 487992 487992 9083603 831669 -22411 854080 2684187 1911929 772258 772258 772258 19788298 18354305 1433993 1433993 1433993 93445 93445 0 PASSTHROUGH - EAGLE HOSPITALITY 532000 -561261 -561261 62819 62819 -498442 16494157 9083603 -583672 3123150 6065260 6065260 523445 523445 1049015 797925 251090 53067 53067 78591 18000 60591 85932 42296 43636 84427 84427 127469 127469 55252 55252 490533 490533 443419 425308 18111 212019 102621 7585 101813 219753 219753 1334918 1334918 88823 8466 80357 95455 66698 28757 4499576 4499576 2242314 2219552 22762 198705 60566 138139 DEPARTMENTAL OPERATING 523630 523630 DEVELOPMENT EXPENSES 194453 194453 REAL ESTATE TAXES 116292 116292 BOND AND TRUSTEE FEES 79096 79096 197911 190456 7455 19059355 16475496 2178479 405380 291195 7589641 5280494 2265468 2050615 1405628 2222518 1553821 1314563 75000 110946 191424 136547318 25633633 113130435 110913685 34404639 34175688 7599400 9448799 235997 281369 11923536 5893424 178564338 173793947 647915 570788 41932 44255 79998496 79335000 42260671 40598828 21156572 15402329 144105586 135951200 X -30703030 -25212906 14910788 10934207 50250994 52121446 34458752 37842747 178564338 173793947 X -2565198 985007 4964186 X 0 1 X 1 0 X 6006987 8104595 6101495 5847449 4871076 30931602 1571000 1444395 1509113 1426795 1582848 7534151 7577987 9548990 7610608 7274244 6453924 38465753 5386963 33078790 3034064 3965312 3488236 3444545 3515856 17448013 55913766 42146383 0.59160 0.60730 X 0 0 0 0 0 0 1 55252 0 0 55252 0 PART II-B, LINE 1: DURING THIS FISCAL YEAR, THE STATE LEGISLATURE WAS CONSIDERING BILLS TO PROVIDE FUNDING TO THE UNIVERSITY OF MARY WASHINGTON AND OTHER HIGHER EDUCATION INSTITUTIONS IN VIRGINIA. THE FOUNDATION, ON BEHALF OF THE UNIVERSITY, SUPPORTED THE COST OF CONSULTANTS WHO MADE DIRECT CONTACT WITH MEMBERS OF THE GENERAL ASSEMBLY OR THEIR STAFF. THE CONSULTANTS ALSO MONITORED LEGISLATION AND ADVISED UNIVERSITY MANAGEMENT OF THE STATUS OF THE LEGISLATION. ALSO INCLUDED ARE OUT-OF-POCKET COSTS PAID TO THE CONSULTANTS FOR COPYING, PHONE CALLS AND LOBBYIST'S REGISTRATION FEES. 7281 X 0 47956882 2286830 2952955 2555753 50640914 43653068 2522015 4162936 2381137 47956882 45668363 2667732 -2475657 2207370 43653068 46389394 2149663 -634685 2236009 45668363 41385223 2137246 4893164 2026239 46389394 0.00000 0.82000 0.18000 0 0 24781609 9453792 34235401 12063931 86917727 23907365 75074293 415737 1583515 1166741 832511 1187058 143949 559527 771480 110913685 HEDGE FUNDS 4462508 F PRIVATE EQUITY 1008169 F NATURAL RESOURCE FUNDS 1623328 F STOCK MUTUAL FUNDS 2354794 F 9448799 GIFT ANNUITY LIABILITY 732869 TENANT DEPOSITS 81587 INTEREST RATE SWAP CONTRACTS 14727576 UNAMORTIZED DEBT ISSUANCE COST -220339 OTHER LIABILITIES 80636 15402329 29754281 985007 1582848 8219079 10786934 18967347 -2473190 -2473190 16494157 26804454 1582848 6162251 7745099 19059355 0 19059355 PART III, LINE 4: ART WORKS HAVE BEEN ACCEPTED ON BEHALF OF THE UNIVERSITY ART GALLERY AND ARE IN CUSTODIAL CARE OF THE UNIVERSITY. PART V, LINE 4: THE FOUNDATION'S ENDOWMENT CONSISTS OF MULTIPLE INDIVIDUAL FUNDS. THE ENDOWED FUNDS ARE ALL DONOR-RESTRICTED ENDOWMENTS CONSISTING OF STUDENT SCHOLARSHIPS AND AWARDS, FACULTY SUPPORT, AND OTHER SUPPORT OF THE ARTS AND PROGRAM OPERATIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: EAGLE HOSPITALITY REVENUE INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS 3,254,893. UNREALIZED GAIN ON INTEREST RATE SWAP CONTRACTS 4,936,775. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 27,411. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES NETTED AGAINST REVENUE ON RETURN -1,911,929. FOUNDATION'S SHARE OF NET LOSS FROM EAGLE HOSPITALITY -561,261. PART XII, LINE 2D - OTHER ADJUSTMENTS: EAGLE HOSPITALITY EXPENSES INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS 3,852,485. EAGLE HOSPITALITY LOSS INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS 397,837. RENTAL EXPENSES NETTED AGAINST REVENUE ON RETURN 1,911,929. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 5888834 0 0 0 0 0 0 5888834 0 5888834 1 0 1 1 1 0 PART I, LINE 3: AMOUNT REPORTED IN PART I REPRESENTS THE FAIR MARKET VALUE OF INVESTMENTS HELD IN THE REGION AS OF THE END OF THE FOUNDATION'S FISCAL YEAR. 93445 10000 83445 0 93445 10000 83445 93445 VA 1 0 0 0 1.00000 CONTROLLER 1125 JEFFERSON DAVIS HWY STE 200 WOODBRIDGE VA 22401 0 CLINT OFTEN 0 AS AN EMPLOYEE OF THE UNIVERSITY, THE GAMING MANAGER COORDINATES THE RAFFLE PROGRAM, APPLICATION FOR LICENSE, OVERSEES THE SALE OF RAFFLE TICKETS TO NCAA TEAMS AND PAYOUT OF PRIZES. X 0 9345 SCHEDULE G, PART III, LINE 5 OTHER DIRECT EXPENSES INCLUDES $81,485 THAT WAS CONTRIBUTED TO THE UNIVERSITY OF MARY WASHINGTON. THE FOUNDATION HOLDS THE EVENT EACH YEAR AND CONTRIBUTES ANY REMAINING REVENUE IN EXCESS OF THE CASH PRIZE AND EXPENSES TO THE UNIVERSITY'S ATHLETICS PROGRAMS. 1 UNIVERSITY OF MARY WASHINGTON ALUMNI ASSOCIATION 1119 HANOVER STREET FREDERICKSBURG VA 22401 540471667 501(C)(3) 137376 DONATION TO SUPPORT UNIVERSITY SERVICES AND PROGRAMS UNIVERSITY OF MARY WASHINGTON 1301 COLLEGE AVENUE FREDERICKSBURG VA 22401 546001757 170(C)(1) 5631327 296557 BOOK DONATED ART AND OTHER PROPERTY STUDENT SCHOLARSHIPS, FACULTY AWARDS AND OTHER SUPPORT OF UNIVERSITY SERVICES 2 0 PART I, LINE 2: UMW PROVIDES ADEQUATE DOCUMENTATION AND AUDIT TRAILS FOR SCHOLARSHIP PAYMENTS TO STUDENTS. THE UNIVERSITY DEPARTMENT OF FINANCIAL AID IS RESPONSIBLE FOR DETERMINING ELIGIBILITY OF STUDENTS UNDER TERMS OF ENDOWMENTS, AND FOR AWARDING FINANCIAL AID THROUGH THE DEPARTMENT OF STUDENT ACCOUNTS. THE FOUNDATION FIRST ADVANCES THE UNIVERSITY THE DESIGNATED AMOUNT OF FUNDS WHICH ALLOWS THE UNIVERSITY TO PAY OUT THE SCHOLARSHIPS. ALL DISBURSEMENTS ARE APPROVED BY THE CEO OF THE FOUNDATION. THE FOUNDATION PERIODICALLY COMPARES THE UMW SCHOLARSHIP SYSTEM REPORT WHICH SHOWS WHAT THE UNIVERSITY HAS PAID OUT TO THE FOUNDATION'S SCHOLARSHIPS AND AWARD PAYMENT HISTORY. DIFFERENCES ARE INVESTIGATED AND CORRECTED. OTHER ASSISTANCE TO THE UNIVERSITY IS APPROVED IN ADVANCE OF FUNDING TO THE UNIVERSITY OR PAID DIRECTLY BY THE FOUNDATION ON THE UNIVERSITY'S BEHALF. X X X 0 1 0 0 0 0 0 0 0 JEFF W ROUNTREE CEO 242531 0 35000 0 0 0 30162 0 10468 0 318161 0 0 0 GREGORY A BRANNER CFO/TREASURER 121578 0 15951 0 0 0 15065 0 19269 0 171863 0 0 0 PART I, LINE 4B THE FOUNDATION ENTERED INTO A NON-QUALIFIED DEFERRED COMPENSATION AGREEMENT WITH ITS CEO DURING FYE 2017. NO AMOUNTS VESTED OR WERE PAID UNDER THIS AGREEMENT DURING THIS TAX YEAR. A INDUSTRIAL DEVELOPMENT AUTHORITY STAFFORD COUNTY 412119657 852412LR4 2007-08-08 2500000 1201 WILLIAM STREET PURCHASE A 0 0 0 B ECONOMIC DEVELOPMENT AUTHORITY FREDERICKSBURG VA 521303430 000000000 2018-02-15 77345000 REFINANCE SERIES 2013 BONDS 0 0 0 A 510000 2500000 148081 2351919 2008 0 0 1 1 B 77345000 77345000 2013 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 B 1 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 1 0 0 0 0 0 B 0 1 0 0 1 0 0 0 0 A 1 B 1 X 47 978754 FMV X ATHLETICS 16 94140 FMV X FURNITURE 2 1800 FMV 0 0 1 1 FORM 990, PART VI, SECTION A, LINE 1 AS OUTLINED IN THE BYLAWS OF UMW FOUNDATION, THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS IS EMPOWERED TO ACT ON BEHALF OF THE FULL BOARD FOR DECISIONS AND ACTIONS REQUIRED BETWEEN BOARD MEETINGS. IN PRACTICE, MOST EXECUTIVE COMMITTEE ACTIONS RELATE TO REAL ESTATE TRANSACTIONS. FORM 990, PART VI, SECTION B, LINE 11B UPON FINAL REVIEW BY THE CFO AND CEO OF THE FOUNDATION, THE 990 (IN DRAFT FORM) WILL BE SUBMITTED SIMULTANEOUSLY TO THE CHAIRMAN OF THE AUDIT COMMITTEE AND ALL MEMBERS OF THE EXECUTIVE COMMITTEE. THE AUDIT COMMITTEE WILL MAKE ANY NEEDED ALTERATIONS AND APPROVE THE FORM 990 AND FORM 990-T FOR REVIEW BY THE BOARD OF DIRECTORS. ONCE THE BOARD HAS REVIEWED, THE FORM 990 AND FORM 990-T WILL BE FINALIZED AND SIGNED BY THE CEO AND FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C AT THE FIRST ANNUAL BOARD MEETING AND AT SUCH OTHER TIMES AS THE BOARD OR COMMITTEE MAY DEEM APPROPRIATE, THE BOARD OR COMMITTEE OF DIRECTORS SHALL CONDUCT A REVIEW OF THE UMW FOUNDATION'S ACTIVITIES TO ENSURE THAT THE FOUNDATION IS OPERATING IN A MANNER CONSISENT WITH ACCOMPLISHING ITS CHARITABLE PURPOSES AND THAT ITS OPERATIONS DO NOT RESULT IN PRIVATE INUREMENT OR IMPERMISSIBLE BENEFIT TO PRIVATE INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD'S COMPENSATION COMMITTEE RESEARCHES VARIOUS SALARY STUDIES FOR COMPARABLE DATA IT USES IN ESTABLISHING THE CEO'S SALARY. THE CEO, IN COLLABORATION WITH THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS, RESEARCHES VARIOUS INDEPENDENT SALARY STUDIES FOR COMPARABLE DATA THE FOUNDATION THEN USES FOR ESTABLISHING THE SALARIES OF OTHER OFFICERS. 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. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 27,411. UNREALIZED GAIN ON INTEREST RATE SWAP CONTRACTS 4,936,775. EAGLE PROPERTY HOLDINGS LLC 1125 JEFFERSON DAVIS HIGHWAY STE 20 FREDERICKSBURG VA 22401 300491606 REAL ESTATE HOLDING COMPANY VA 212899 16281363 UNIVERSITY OF MARY WASHINGTON FOUNDATION EAGLE HOUSING LLC 1125 JEFFERSON DAVIS HIGHWAY STE 20 FREDERICKSBURG VA 22401 263699705 STUDENT HOUSING PROJECTS HOLDING VA 13997111 83428418 UNIVERSITY OF MARY WASHINGTON FOUNDATION EAGLE VILLAGE I LLC 1125 JEFFERSON DAVIS HIGHWAY STE 20 FREDERICKSBURG VA 22401 261479875 RENTAL PROPERTY-RETAIL VA 1246125 10520680 EAGLE PROPERTY HOLDINGS LLC SNOWDEN STREET LLC 1125 JEFFERSON DAVIS HIGHWAY STE 20 FREDERICKSBURG VA 22401 300491606 REAL ESTATE VA 0 1753290 EAGLE PROPERTY HOLDINGS LLC EAGLE PIZZA LLC 1125 JEFFERSON DAVIS HIGHWAY STE 20 FREDERICKSBURG VA 22401 271592906 REAL ESTATE VA 127931 2318850 EAGLE PROPERTY HOLDINGS LLC EAGLE VILLAGE - ROGER DODGER LLC 1125 JEFFERSON DAVIS HIGHWAY STE 20 FREDERICKSBURG VA 22401 261729320 REAL ESTATE VA 275661 2806653 EAGLE PROPERTY HOLDINGS LLC TRANSITIONAL PROPERTIES LLC 1125 JEFFERSON DAVIS HIGHWAY STE 20 FREDERICKSBURG VA 22401 271592853 REAL ESTATE VA 35145 314185 EAGLE PROPERTY HOLDINGS LLC EAGLE DEVELOPERS LLC 1125 JEFFERSON DAVIS HIGHWAY STE 20 FREDERICKSBURG VA 22401 364710338 REAL ESTATE DEVELOPMENT VA 0 1000 EAGLE PROPERTY HOLDINGS LLC ACADEMIC VILLAGE LLC 1125 JEFFERSON DAVIS HIGHWAY STE 20 FREDERICKSBURG VA 22401 472547586 REAL ESTATE VA 78663 790382 EAGLE PROPERTY HOLDINGS LLC EAGLE HOSPITALITY LLC 1125 JEFFERSON DAVIS HIGHWAY STE 20 FREDERICKSBURG VA 22401 453538218 LIMITED SERVICE HOTEL VA EAGLE PROPERTY HOLDINGS LLC UNRELATED -561261 15789719 0 -561261 1 1.00000 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 EAGLE HOSPITALITY LLC A 51362 BOOK EAGLE HOSPITALITY LLC D 1150000 BOOK LATE FILED RETURN DUE TO CCH SOFTWARE OUTAGE