2019-03-20T17:44:20-05:00 2018-06-30 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2017-07-01 310896555 THE UNIVERSITY OF CINCINNATI FOUNDATION UNIV 5135566781 PO BOX 19970 CINCINNATI OH 452190970 THOMAS D FREEMAN VP/CFO 5135566781 2019-03-13 1 CAROL LALONDE CPA P00181637 2695674500 2019-03-13 67.59.56.31 2019-03-13 14:48:23 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 5FD6246EE0F451949F9805BAE06B6A2357F068D4 2017 2019-02-21 02:37:17Z W TROY NEAT PO BOX 19970 CINCINNATI OH 452190970 139089252 0 X HTTP://FOUNDATION.UC.EDU X 1977 OH RAISE FUNDS TO SUPPORT THE PRIORITIES OF UC AND UC HEALTH, AND ENGAGE ALUMNI AND CONSTITUENTS. 53 53 201 4054 135000 208114 68031528 71961197 26269538 31266362 18971844 19272734 459434 640678 113732344 123140971 50471635 59874569 0 0 17225770 16811745 508796 554179 22556557 11698490 10587367 79904691 87827860 33827653 35313111 525626343 569186415 24771698 22533367 500854645 546653048 X TO SUPPORT THE ASPIRATIONS OF THE UNIVERSITY OF CINCINNATI AND UC HEALTH THROUGH PHILANTHROPY BY COLLABORATING WITH THE COLLEGES, ACADEMIC HEALTH CENTER AND OTHER UNITS TO MAXIMIZE PRIVATE SUPPORT. OUR ADVANCEMENT EFFORTS PROMOTE THE DEVELOPMENT OF PRODUCTIVE, ENDURING RELATIONSHIPS WITH ALUMNI, FRIENDS, COLLEAGUES, STUDENTS, FOUNDATIONS AND CORPORATIONS. 0 0 59874569 59874569 31131362 THE UC FOUNDATION IS THE FUNDRAISING ENTITY FOR THE UNIVERSITY OF CINCINNATI. THE UC FOUNDATION EXISTS TO ADVANCE THE FUTURES OF THE UNIVERSITY, ITS COLLEGES, UNITS, DEPARTMENTS, FACULTY AND STUDENTS THROUGH PHILANTHROPY. ALL PROGRAM SERVICE ALLOCATIONS ARE MADE TO OR FOR THE BENEFIT OF THE UNIVERSITY OF CINCINNATI. IN ADDITION TO THE ABOVE, THE UC FOUNDATION ALSO PROVIDES FUNDRAISING SERVICES FOR UC HEALTH AND RECORDS DONATIONS RECEIVED BY THE LINDNER CENTER OF HOPE. THE DONATIONS RECORDED BY THE UC FOUNDATION FOR UC HEALTH, THE LINDNER CENTER OF HOPE AND DONATIONS RECEIVED DIRECTLY BY THE UNIVERSITY OF CINCINNATI ARE NOT INCLUDED IN THE FORM 990 AS CONTRIBUTION AND GRANT REVENUE. 59874569 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 1 101 0 1 201 1 1 1 0 0 0 0 1 1 0 0 0 0 X 53 53 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AZ CA CO CT IL KY LA ME MD MA MI MN NH NJ NM NY ND OH OK OR PA RI SC TN UT WV WI X THOMAS D FREEMAN 5135566781 PO BOX 19970 CINCINNATI OH 452190970 WILLIAM T NEAT CHAIR 1.00 0.00 X X 0 0 0 SHAKILA T AHMAD TRUSTEE 1.00 0.00 X 0 0 0 PETER A ALPAUGH TRUSTEE 1.00 0.00 X 0 0 0 JOHN B BERDING TRUSTEE 1.00 0.00 X 0 0 0 ELROY E BOURGRAF TRUSTEE 1.00 0.00 X 0 0 0 ERIC C BROYLES TRUSTEE 1.00 0.00 X 0 0 0 ROBERT R BUCK TRUSTEE 1.00 0.00 X 0 0 0 KEN V BYERS TRUSTEE 1.00 0.00 X 0 0 0 PHIL D COLLINS TRUSTEE 1.00 0.00 X 0 0 0 SEAN P CONNELL TRUSTEE 1.00 0.00 X 0 0 0 SALLY W CUNI TRUSTEE 1.00 0.00 X 0 0 0 TODD C DEGARMO TRUSTEE 1.00 0.00 X 0 0 0 DIANNE G DUNKELMAN TRUSTEE 1.00 0.00 X 0 0 0 ROBERT L FEALY TRUSTEE 1.00 0.00 X 0 0 0 BRIAN E HALL TRUSTEE 1.00 0.00 X 0 0 0 CARRIE K HAYDEN TRUSTEE 1.00 0.00 X 0 0 0 STUART G HOFFMAN TRUSTEE 1.00 0.00 X 0 0 0 KATHRYN A HOLLISTER TRUSTEE 1.00 0.00 X 0 0 0 GYAN JHA TRUSTEE 1.00 0.00 X 0 0 0 GARY D JOHNS TRUSTEE 1.00 0.00 X 0 0 0 TIMOTHY E JOHNSON TRUSTEE 1.00 0.00 X 0 0 0 LAURENCE F JONES TRUSTEE 1.00 0.00 X 0 0 0 JOSEPH P JUDGE TRUSTEE 1.00 0.00 X 0 0 0 JEROME C KATHMAN TRUSTEE 1.00 0.00 X 0 0 0 RUTHIE S KEEFE TRUSTEE 1.00 0.00 X 0 0 0 BARBARA W KELLAR TRUSTEE 1.00 0.00 X 0 0 0 ROBERT J KING TRUSTEE 1.00 0.00 X 0 0 0 PATRICIA L KLINGBIEL CONNELL TRUSTEE 1.00 0.00 X 0 0 0 WILLIAM H KRUL TRUSTEE 1.00 0.00 X 0 0 0 RAE A MANG TRUSTEE 1.00 0.00 X 0 0 0 DARRELL D MILLER TRUSTEE 1.00 0.00 X 0 0 0 JOFFRE P MOINE TRUSTEE 1.00 0.00 X 0 0 0 SHENAN P MURPHY TRUSTEE 1.00 0.00 X 0 0 0 RUSSELL C MYERS TRUSTEE 1.00 0.00 X 0 0 0 JACQUELINE C NEUMANN TRUSTEE 1.00 0.00 X 0 0 0 CORA K OGLE TRUSTEE 1.00 0.00 X 0 0 0 JAMES F ORR TRUSTEE 1.00 0.00 X 0 0 0 MICHAEL J PAXTON TRUSTEE 1.00 0.00 X 0 0 0 ELLEN RIEVESCHL TRUSTEE 1.00 0.00 X 0 0 0 ALVIN F ROEHR TRUSTEE 1.00 0.00 X 0 0 0 RYAN M RYBOLT TRUSTEE 1.00 0.00 X 0 0 0 JAMES A SCHIFF TRUSTEE 1.00 0.00 X 0 0 0 MICHAEL T SCHUELER TRUSTEE 1.00 0.00 X 0 0 0 RICHARD C SEAL TRUSTEE 1.00 0.00 X 0 0 0 SHIMUL A SHAH TRUSTEE 1.00 0.00 X 0 0 0 TONY L SHIPLEY TRUSTEE 1.00 0.00 X 0 0 0 RANDALL E SMITH TRUSTEE 1.00 0.00 X 0 0 0 JOHN M TEW TRUSTEE 1.00 0.00 X 0 0 0 GREG A TIPSORD TRUSTEE 1.00 0.00 X 0 0 0 SANDRA S WIESMANN TRUSTEE 1.00 0.00 X 0 0 0 ANDI K WIOT TRUSTEE 1.00 0.00 X 0 0 0 GREGORY C WOLF TRUSTEE 1.00 0.00 X 0 0 0 FRANK C WOODSIDE TRUSTEE 1.00 0.00 X 0 0 0 CLARK E BECK TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 DANIEL P CARMICHAEL TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 DAVID B DILLON TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 ROBERT E DOBBS TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 DONALD C HARRISON TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 ROBERT A HEIMANN TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 MARVIN P KOLODZIK TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 LOUIS H LAUCH TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 WILLIAM E LOWER TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 THOMAS E MISCHELL TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 WILLIAM B MONNIG TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 VALERIE L NEWELL TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 JAMES E SCHWAB TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 MARGARET K VALENTINE TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 JEFFREY P WILLIAMS TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 STEVEN A WILSON TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 WILBERT L ZIEGLER TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 THOMAS D FREEMAN VP, CFO, TREASURER 40.00 0.00 X 251149 14175 36791 LYNNETTE M HEARD EX DIR BOARD RELATION, SECRETARY 40.00 0.00 X 100248 0 16310 PETER LANDGREN PRESIDENT 40.00 0.00 X 121816 0 14983 DEBORAH J ROBINSON VP FOR DEVELOPMENT 40.00 0.00 X 266531 0 39589 JENNIFER L HEISEY EX. DIR.,VP ALUMNI RELATIONS 40.00 0.00 X 217372 0 29005 DONNA GASTEVICH SR. VP ADVANCEMENT 40.00 0.00 X 283546 0 43415 MICHAEL D ZENZ AVP AHC & UCH DEVELOPMENT 40.00 0.00 X 202689 0 35671 NICHOLAS KARAGOSIAN VP & EXEC DIR, BICENTENNIAL 40.00 0.00 X 218342 0 24701 KAREN HATCHER AVP DEVELOPMENT, ATHLETICS 40.00 0.00 X 196286 0 18813 CARRIE E WHITE VP ADVANCEMENT SERVICES 40.00 0.00 X 199692 0 42022 RODNEY M GRABOWSKI FORMER PRESIDENT 0.00 0.00 X 405448 0 5067 2463119 14175 306367 30 1 1 0 RUFFALO NOEL LEVITZ PO BOX 718 DES MOINES IA 50303 FUNDRAISING 522739 160OVER90 FL LLC 510 WALNUT STREET 19TH FLOOR PHILADELPHIA PA 19106 BRANDING/MARKETING 409654 LIPMAN HEARNE INC 200 S MICHIGAN AVE 16TH FLOOR CHICAGO IL 60604 MARKETING/COMMUNICATIONS 277102 KORN FERRY INTERNATIONAL PO BOX 1450 MINNEAPOLIS MN 55485 MANAGEMENT CONSULTANT 167907 HART 1915 INDIAN WOOD CIRCLE MAUMEE OH 43537 DIGITAL MARKETING/ADVERTISING 164887 5 71961197 14487676 71961197 GENERAL MANAGEMENT FEE 900099 19108115 19108115 END FUND-RAISING ASSESSMENT 900099 7465221 7465221 GIFT INVESTMENT FEE REVENUE 900099 1978580 1978580 MISCELLANEOUS INCOME 900099 1380400 1380400 UC COLLEGE SUPPORT 900099 725556 725556 608490 473490 135000 31266362 8531223 8531223 25811160 1500 15070204 945 10740956 555 10741511 10741511 1517810 877132 640678 640678 123140971 31131362 135000 19913412 59874569 59874569 1552930 409347 1143583 11423867 2040899 9382968 824694 168974 655720 2079618 460384 1619234 930636 176962 753674 110987 110987 142283 142283 554179 554179 22209 22209 693165 160195 532970 580830 580830 585248 461313 123935 746171 510579 235592 430442 392638 37804 240553 3225 237328 223890 46153 177737 1034774 180514 854260 51156 51156 FUNDRAISING ASSESSMENT 4755942 4755942 EVENT EXPENSE 268025 268025 ALUMNI AFFAIRS-MED. 139833 139833 CULTIVATION 130409 5700 124709 431450 53216 378234 87827860 59874569 5396734 22556557 10349843 11741851 104856996 112074555 2777536 2682492 433777 472099 7705167 5344670 3209901 2360497 402710229 439257940 1288061 596981 525626343 569186415 9710233 9356859 232573 210312 14828892 12966196 24771698 22533367 X -19072101 -8920942 175571158 187549824 344355588 368024166 500854645 546653048 525626343 569186415 X 35313111 10395506 89786 X X 0 1 X 1 0 X 65111927 48350995 68644908 68031528 71961197 322100555 271743 192654 464397 65111927 48350995 68644908 68303271 72153851 322564952 17380669 305184283 10643846 10877325 9500236 7322364 8531223 46874994 151000 134722 285722 1063482 1517810 2581292 372306960 119313792 0.81970 0.81930 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING EVENT REVENUE - 2016 AMOUNT: $ 1,063,482. 2017 AMOUNT: $ 1,517,810. 385067705 27490580 17786417 2372624 7174857 420797221 342447190 24532065 25234689 1715097 5431142 385067705 327940685 35970565 -10464814 2889271 8109975 342447190 318833003 22701180 -2601629 2563333 8428536 327940685 266053755 33274912 31472000 3127851 8839813 318833003 0.11970 0.80030 0.08000 0 0 1562580 1420545 142035 1137081 982007 155074 5005506 2942118 2063388 2360497 AGENCY PAYABLE 10340227 TRUST HELD FOR THE BENEFIT OF OTHERS 1799437 REFUNDABLE DEPOSITS 781141 PAYABLE TO RELATED ORGANIZATION 45391 12966196 X 135594849 10395506 306925 874315 11576746 124018103 -877132 -877132 123140971 89796446 306925 1661661 1968586 87827860 0 87827860 PART V, LINE 4: THE EARNINGS FROM THE UNIVERSITY OF CINCINNATI FOUNDATION ENDOWMENT FUNDS ARE TRANSFERRED TO THE UNIVERSITY OF CINCINNATI TO BE DISBURSED ACCORDING TO THE RESTRICTIONS OF EACH ENDOWMENT. THESE RESTRICTIONS INCLUDE SCHOLARSHIPS, PRIZES, AWARDS AND SUPPORT FOR THE COLLEGES AND DEPARTMENTS OF THE UNIVERSITY. PART X, LINE 2: THE FOUNDATION IS A NOT-FOR-PROFIT ORGANIZATION AS DEFINED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND, AS SUCH, IS EXEMPT FROM FEDERAL INCOME TAXES. THE FOUNDATION EVALUATES ITS UNCERTAIN TAX POSITIONS AS TO WHETHER IT IS MORE LIKELY THAN NOT A TAX POSITION COULD BE SUSTAINED IN THE EVENT OF AN AUDIT BY THE APPLICABLE TAXING AUTHORITY. ACCORDINGLY, A LOSS CONTINGENCY IS RECOGNIZED WHEN IT IS PROBABLE THAT A LIABILITY HAS BEEN INCURRED AS OF THE DATE OF THE FINANCIAL STATEMENTS, AND THE AMOUNT OF THE LOSS CAN BE REASONABLY ESTIMATED. THE AMOUNT RECOGNIZED IS SUBJECT TO ESTIMATE AND MANAGEMENT JUDGMENT WITH RESPECT TO THE LIKELY OUTCOME OF EACH UNCERTAIN TAX POSITION. THE AMOUNT THAT IS ULTIMATELY SUSTAINED FOR AN INDIVIDUAL UNCERTAIN TAX POSITION OR FOR ALL UNCERTAIN TAX POSITIONS IN THE AGGREGATE COULD DIFFER FROM THE AMOUNT RECOGNIZED. OPEN TAX YEARS FOR THE FOUNDATION INCLUDE 2017, 2016 AND 2015. AS OF JUNE 30, 2018 AND 2017, THE FOUNDATION HAS NO ASSETS OR LIABILITIES RECORDED RELATED TO UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 874,315. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES -877,132. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN PV OF ANNUITIES PAYABLE 784,529. FUNDRAISING EVENT EXPENSES 877,132. X X 1 RUFFALO NOEL LEVITZ LLC 1025 KIRKWOOD PARKWAY SW CEDAR RAPIDS IA 52404 TELEFUND 0 926854 554179 372675 926854 554179 372675 AL AK AZ AR CA CO CT FL IL KS KY LA ME MD MA MI MN MS MO NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WI BRAIN TUMOR CENTER WALK AHEAD 279868 279868 300 52984 SUNFLOWER REVOLUTION 193109 193109 300 53983 31 1044833 1044833 825 143345 362977 9238 253180 1517810 1517810 825 143945 362977 9238 360147 877132 640678 1 UNIVERSITY OF CINCINNATI 2624 CLIFTON AVENUE CINCINNATI OH 45221 316000989 115 57590267 2284302 FMV IN-KIND PROGRAM SUPPORT 1 0 PART I, LINE 2: THE FOUNDATION WAS ESTABLISHED AS THE FUNDRAISING ENTITY FOR THE UNIVERSITY OF CINCINNATI. ALL MONEY RAISED IS TRANSFERRED TO THE UNIVERSITY. THE FOUNDATION DOES NOT DETERMINE THE USE OF THE GIFT FUNDS. FUNDS RAISED ARE ALLOCATED ACCORDING TO RESTRICTIONS ESTABLISHED BY DONORS. IF GIFTS ARE MADE WITHOUT DONOR RESTRICTIONS, ALLOCATION IS DETERMINED BY THE UNIVERSITY. X X X 1 1 0 1 0 0 0 0 0 THOMAS D FREEMAN VP, CFO, TREASURER 226413 14175 24598 0 138 0 22641 0 14150 0 287940 14175 0 0 DEBORAH J ROBINSON VP FOR DEVELOPMENT 239896 0 26257 0 378 0 23990 0 15599 0 306120 0 0 0 JENNIFER L HEISEY EX. DIR.,VP ALUMNI RELATIONS 194288 0 23027 0 57 0 18000 0 11005 0 246377 0 0 0 DONNA GASTEVICH SR. VP ADVANCEMENT 255828 0 27481 0 237 0 24000 0 19415 0 326961 0 0 0 MICHAEL D ZENZ AVP AHC & UCH DEVELOPMENT 182625 0 19950 0 114 0 18263 0 17408 0 238360 0 0 0 NICHOLAS KARAGOSIAN VP & EXEC DIR, BICENTENNIAL 194886 0 23400 0 56 0 0 0 24701 0 243043 0 0 0 KAREN HATCHER AVP DEVELOPMENT, ATHLETICS 177188 0 17500 0 1598 0 14729 0 4084 0 215099 0 0 0 CARRIE E WHITE VP ADVANCEMENT SERVICES 178537 0 21108 0 47 0 17854 0 24168 0 241714 0 0 0 RODNEY M GRABOWSKI FORMER PRESIDENT 32344 0 0 0 373104 0 1617 0 3450 0 410515 0 0 0 PART I, LINES 4A-B RODNEY M. GRABOWSKI RECEIVED TOTAL SEVERANCE PAYMENTS OF $355,781 DURING THE 2017 CALENDAR YEAR. THE FOUNDATION MAINTAINS A SECTION 457(F) PLAN FOR HIGHLY COMPENSATED EMPLOYEES. ACCOUNTS FOR PARTICIPATING EMPLOYEES ARE CURRENTLY FUNDED SOLELY BY SALARY REDUCTION CONTRIBUTIONS. THE PLAN IS STRUCTURED TO PERMIT FOUNDATION CONTRIBUTIONS ON BEHALF OF THE PARTICIPANTS, AS DEFINED. THERE WERE NO AMOUNTS CONTRIBUTED BY THE FOUNDATION FOR THE YEARS ENDED JUNE 30, 2018 AND 2017. PART I, LINE 5 BONUSES ARE PAID TO EMPLOYEES CONTINGENT UPON MEETING SET FUNDRAISING GOALS AS WELL AS DEPENDENT UPON THE ORGANIZATION REACHING A TARGETED REVENUE AMOUNT FOR THE YEAR. BONUS AMOUNTS ARE EQUAL TO A PERCENTAGE OF THE EMPLOYEES SALARY. X 198 12203374 AVG HIGH/LOW PRICE X 1 2200000 OPINION OF EXPERTS X PROMO. MAT/EVENTS 57 84302 COST/SELLING PRICE 171 0 1 1 PART I, COLUMN (B): THE NUMBER LISTED IN COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTIONS RECEIVED. PART I, LINE 32B: PUBLICLY TRADED STOCK IS SOLD BY LOCAL STOCK BROKERS. FORM 990, PART I, REVENUE THE UC FOUNDATION RECORDED GIFTS AND COMMITMENTS OF MORE THAN $134 AND $140 MILLION IN FISCAL YEARS 2018 AND 2017, RESPECTIVELY AND INCLUDE AMOUNTS RELATED TO UNIVERSITY OF CINCINNATI, UC HEALTH AND LINDNER CENTER OF HOPE. THE CONTRIBUTION REVENUE NOTED ABOVE INCLUDES OUTRIGHT GIFTS/COMMITMENTS, PLANNED GIFTS, CERTAIN NON-GOVERNMENT RESEARCH AND CONTRIBUTIONS FROM UC HEALTH. LIMITED USE SOFTWARE LICENSES ARE EXCLUDED FROM GIFTS AND COMMITMENTS. CONTRIBUTION REVENUE RECORDED ON THE UC FOUNDATION AUDITED FINANCIAL STATEMENT AND FORM 990 ARE IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP). CERTAIN GIFTS AND COMMITMENTS ARE EXCLUDED FROM THE FINANCIAL STATEMENTS AND FORM 990 WHICH INCLUDE CONTRIBUTIONS RECORDED FOR THE UC HEALTH FOUNDATION AND LINDNER CENTER OF HOPE, REVOCABLE BEQUESTS, AND CERTAIN REVENUE RECEIVED DIRECTLY BY THE UNIVERSITY OF CINCINNATI. FORM 990, PART VI, SECTION A, LINE 2 BOARD TRUSTEES SEAN P. CONNELL AND PATRICIA L. KLINGBIEL-CONNELL HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PRESENTED TO THE AUDIT COMMITTEE OF THE FOUNDATION FOR REVIEW. THE AUDIT COMMITTEE REPORTS ON THE RESULTS OF THE REVIEW TO THE EXECUTIVE COMMITTEE OF THE FOUNDATION BOARD OF TRUSTEES FOR FINAL APPROVAL PRIOR TO FILING. THE FORM 990 IS MADE AVAILABLE TO ALL MEMBERS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES MUST ACT IN ACCORDANCE WITH THE FOUNDATION'S CONFLICT OF INTEREST POLICY. TRUSTEES SHALL DISCLOSE TO THE BOARD ANY ACTUAL, APPARENT, OR POSSIBLE CONFLICT OF INTEREST AT THE EARLIEST PRACTICAL TIME. WHERE A TRUSTEE'S BUSINESS OR OTHER RELATIONSHIP MAY BE INVOLVED IN A FINANCIAL TRANSACTION WITH THE FOUNDATION, SUCH TRANSACTION SHALL BE MADE AS A RESULT OF COMPETITIVE BIDDING OR OTHER OBJECTIVE MEASURE IN THE BEST INTEREST OF THE FOUNDATION, OR, WHERE PRICE IS NOT A FACTOR, DECISIONS SHALL BE MADE ONLY AFTER DISCUSSIONS BY THE BOARD OF TRUSTEES, AND ONLY WHERE IT IS CLEAR THAT NO OTHER SOURCE CAN BETTER SERVE THE FOUNDATION. A TRUSTEE WHO HAS MADE SUCH A DISCLOSURE SHALL ABSTAIN FROM VOTING ON SUCH MATTERS SUBJECT TO THE CONFLICT OF INTEREST POLICY, THE TRUSTEE MAY BE INVITED TO THE BOARD TO PARTICIPATE IN THE DISCUSSION. THE BOARD MEETING MINUTES SHALL REFLECT THAT A DISCLOSURE WAS MADE AND NOTE THE TRUSTEE'S ABSTENTION FROM VOTING. A TRUSTEE WHO IS RECUSED MAY BE COUNTED FOR PURPOSES OF DETERMINING THE PRESENCE OF A QUORUM AT THE MEETING BUT SHALL NOT BE COUNTED FOR PURPOSES OF DETERMINING THE PRESENCE OF A QUORUM FOR THE REQUISITE BOARD ACTION. THE TRUSTEES ANNUALLY SHALL COMPLETE, UPDATE, SIGN, AND CERTIFY THEIR INDEPENDENCE, OR PROMPTLY REPORT IN DETAIL ANY RELATIONSHIPS THAT ARE OR MAY BE A CONFLICT OF INTEREST TO THE SECRETARY OF THE FOUNDATION BOARD. FORM 990, PART VI, SECTION B, LINE 15 POSITION COMPENSATION IS COMPARED ANNUALLY TO MARKET COMPENSATION BENCHMARKING DATA BY THE HUMAN RESOURCES DEPARTMENT. EVALUATION OF INDIVIDUAL PERFORMANCE AGAINST ESTABLISHED GOALS OCCURS ANNUALLY. THE UNIVERSITY OF CINCINNATI FOUNDATION BOARD OF TRUSTEES COMPENSATION COMMITTEE REVIEWS AND APPROVES COMPENSATION DECISIONS. THIS PROCESS WAS MOST RECENTLY UNDERTAKEN IN FISCAL YEAR 2018. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND THE FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN PV OF ANNUITIES PAYABLE -784,529. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 874,315. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR. UNIVERSITY OF CINCINNATI 2624 CLIFTON AVENUE CINCINNATI OH 45221 316000989 SCHOOL OH 115 N/A 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 UNIVERSITY OF CINCINNATI B 60522872 FMV