2018-11-15T15:16:46-06:00 2018-06-30 410746749 CLIFTONLARSONALLEN LLP 210 SIXTH AVENUE SUITE 200 PITTSBURGH PA 15222 990 2017-07-01 256087074 THE FOUNDATION FOR INDIANA UNIVERSITY OF PENNSYLVANIA (IUP) FOUN 7243573184 G-1 SUTTON HALL INDIANA PA 15705 JACKLYN BROWN DIR OF FINANCIAL OPERATIONS 7243573184 2018-11-15 1 PETER C FERRARO CPA P00482884 4124856700 67.137.57.251 2018-11-15 14:08:56 ES P 2F4ED5D6026E76A24F74CFD058EAA34D995BE900 40B1045984B6BD7CE0CB919AAE2F7A412AF27D98 2017 2019-02-21 02:37:17Z JACKLYN BROWN G-1 SUTTON HALL 1011 S DR INDIANA PA 15705 99409927 0 X WWW.IUP.EDU/FOUNDATION X 1967 PA TO PROVIDE PHILANTHROPIC SUPPORT TO INDIANA UNIVERSITY OF PENNSYLVANIA 15 15 9 16 0 0 7042071 13705644 30490637 21477555 26134540 13982070 -225377 676436 63441871 49841705 5420141 14412952 0 0 3786994 3032133 0 0 247563 25617782 18925444 34824917 36370529 28616954 13471176 274087751 249106716 212169245 163870616 61918506 85236100 X THE FOUNDATION FOR IUP'S PRIMARY MISSION IS TO PROVIDE SUPPORT TO INDIANA UNIVERSITY OF PENNSYLVANIA. 0 1 18907463 266039 20737646 THE FOUNDATION FOR IUP OWNS AND RENTS RESIDENTIAL HOUSING TOSTUDENTS OF INDIANA UNIVERSITY OF PENNSYLVANIA 4132015 4132015 PROVIDE SCHOLARSHIPS AND AWARDS TO STUDENTS OF INDIANA UNIVERSITYOF PENNSYLVANIA 12216325 10014898 1667566 PROVIDE EDUCATIONAL SUPPORT TO VARIOUS COLLEGES AND DEPARTMENTS ATINDIANA UNIVERSITY OF PENNSYLVANIA 35255803 1 1 0 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 0 0 0 0 0 0 1 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 1 50 0 1 9 1 0 0 0 0 0 1 1 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X JACKLYN BROWN 7243573184 G-1 SUTTON HALL INDIANA UNIVERSITY INDIANA PA 15705 TIMOTHY G RUPERT DIRECTOR 1.00 1.00 X 0 0 0 RICHARD D CARUSO PRESIDENT 15.00 1.00 X X 0 0 0 SANDRA BARSOTTI DIRECTOR 1.00 1.00 X 0 0 0 TERRY DUNLAP VICE PRESIDENT 5.00 1.00 X X 0 0 0 TIMOTHY KRONENWETTER SECRETARY/TREASURER 5.00 5.00 X X 0 0 0 DR RUTH RIESENMAN DIRECTOR 1.00 1.00 X 0 0 0 FRANK ROBERTS DIRECTOR 1.00 15.00 X 0 0 0 WILLIAM SHIPLEY DIRECTOR 1.00 1.00 X 0 0 0 ANDREW W STEPHENSON DIRECTOR 1.00 1.00 X 0 0 0 RICK UBINGER DIRECTOR 1.00 1.00 X 0 0 0 REGINA STOVER DIRECTOR 1.00 1.00 X 0 0 0 TIM BURNS DIRECTOR 1.00 1.00 X 0 0 0 DANIEL SARVER DIRECTOR 1.00 5.00 X 0 0 0 GREGORY STEVE DIRECTOR 1.00 1.00 X 0 0 0 DAVID BLUEMLING DIRECTOR 1.00 1.00 X 0 0 0 JACKLYN BROWN DIRECTOR OF FINANCIAL OPER 40.00 X 90857 0 0 ELIZABETH G LAUBER EXECUTIVE DIRECTOR 40.00 X 113669 0 0 204526 0 0 1 0 0 0 0 186151 13519493 97293 13705644 RESIDENCE HALL RENTAL 532000 20737646 20737646 MANAGEMENT FEE INCOME 900099 739909 739909 21477555 2282100 2282100 23715610 37440660 21861062 27595238 1854548 9845422 11699970 11699970 177192 186151 111922 65270 65270 NON GIFT INCOME 900099 927657 927657 TRANSFER FROM STUDENT COOP 900099 250000 250000 LOSS ON EXTINGUISHMENT OF DEBT 900099 -566491 -566491 611166 49841705 22405212 0 13730849 14412952 14412952 192037 192037 2840096 2466450 373646 707374 707374 57953 13493 44460 43111 20000 23111 575944 431525 93980 50439 31088 27088 3350 650 17082 2334 14498 250 2254566 2246568 6572 1426 101403 86991 11018 3394 16899 10569 3205 3125 6365681 6365681 4340527 4340527 265031 248137 16894 HOUSING MANAGEMENT FEE 881347 881347 ADMINISTRATIVE OVERHEAD 664261 664261 UNCOLLECTIBLE PLEDGES 615400 615400 BAD DEBT EXPENSE 476435 476435 1511342 1238671 84392 188279 36370529 35255803 867163 247563 8853282 9213473 1451380 4378824 1326735 1752832 14876800 19704247 335839 167544 142763160 38145574 136918946 104617586 82869619 85826713 27455150 23445497 274087751 249106716 2073510 952096 419839 434709 169792229 131558076 4881769 5235370 221632 0 34780266 25690365 212169245 163870616 X 3912738 23778543 19792278 19218053 38213490 42239504 61918506 85236100 274087751 249106716 X 13471176 4033805 -2384841 8197454 X 0 1 X 1 0 X 4936899 7136671 5500675 7042071 13705643 38321959 4936899 7136671 5500675 7042071 13705643 38321959 5391437 32930522 1318082 1447595 1467552 1670698 2282100 8186027 1051712 1261716 975168 -230690 1003270 4061176 50569162 145586308 0.65120 0.78090 X 1028867 X X X 0 0 4881769 685995 332394 5235370 1 X 58956302 6349411 5018269 1056897 8963328 60303757 53208723 1684762 6209498 1257685 888996 58956302 54542960 3012538 -2021444 1297795 1027536 53208723 53168270 2685533 268465 865923 713385 54542960 45192197 2676628 6656456 859822 497189 53168270 0.04000 0.70000 0.26000 0 0 21600 21600 130485325 30783491 99701834 5272354 1244848 4027506 6983881 6117235 866646 104617586 INSURANCE INVESTMENT 417641 ART WORK 1028867 RESTRICTED CASH HELD W/ TRUSTEE 21998989 23445497 ACCRUED PAYROLL 18263 STUDENT DEPOSITS 64080 ACCRUED INTEREST PAYABLE 2087242 UNCLAIMED PROPERTY PAYABLE 1860 TRUSTS AND ANNUITIES PAYABLE 91022 INTEREST RATE SWAP AGREEMENTS 23427898 25690365 X 62072964 4033805 8197454 12231259 49841705 0 49841705 38755370 2384841 2384841 36370529 0 36370529 PART IV, LINE 2B: THE FOUNDATION HOLDS INVESTMENTS FOR THE INDIANA UNIVERSITY OF PENNSYLVANIA (IUP) ALUMNI ASSOCIATION. THE INVESTMENTS ARE INCLUDED IN THE BNY MELLON INVESTMENT ACCOUNTS. CONTRIBUTIONS TO AND DISBURSEMENTS FROM THE ACCOUNT DIRECTLY INCREASE OR DECREASE THE LIABILITY. A PORTION OF THE REALIZED AND UNREALIZED INVESTMENT INCOME OR LOSS EARNED BY THE FOUNDATION IS CREDITED TO THE LIABILITY AND IS CALCULATED BASED ON THE PROPORTIONATE VALUE OF INVESTMENT ACCOUNTS. THE FOUNDATION HAS NO SPENDING AUTHORITY OVER THIS FUND. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER CODE SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, BASED ON A DETERMINATION LETTER DATED APRIL 3, 2007. THE FOUNDATION IS CLASSIFIED AS A PUBLIC CHARITY BY THE COMMONWEALTH OF PENNSYLVANIA AND IS EXEMPT FROM STATE TAXES ON RELATED INCOME. THE FOUNDATION IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS OR ANY ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME TAXES. THE FOUNDATION FOLLOWS THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. THIS STANDARD PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT PRINCIPLE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENTS OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. AS A RESULT OF THE APPLICATION, THE FOUNDATION EVALUATED ITS TAX POSITIONS AND DETERMINED IT HAD NO UNCERTAIN TAX POSITIONS FOR EITHER OF THE YEARS ENDED JUNE 30, 2018 OR 2017. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED GAIN ON INTEREST RATE SWAP AGREEMENTS SCHEDULE D, PART III, LINE 4 THE ARTWORK COLLECTION HELD BY THE FOUNDATION IS A COLLECTION OF ART DONATED TO BE USED BY THE UNIVERSITY FOR EDUCATIONAL PURPOSES. SCHEDULE D, PART V, LINE 4 THE INTENDED USE OF THE FOUNDATION'S ENDOWMENT FUNDS IS TO PROVIDE ACADEMIC AND PROGRAMMATIC SUPPORT TO INDIANA UNIVERSITY OF PA. MEN'S BB GOLF 59553 39345 20208 1500 305 4720 5378 375 5859 ECOB GOLF CLASS 54926 36654 18272 700 7308 6684 5279 10 248864 110152 138712 730 2372 20512 29852 875 19473 363343 186151 177192 2930 2677 32540 41914 1250 30611 111922 65270 1 INDIANA UNIVERSITY OF PENNSYLVANIA 1011 SOUTH DRIVE INDIANA PA 15705 251470695 501(C)(3) 4111930 SCHOLARSHIPS 1 A PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 232248352 70917RKD6 2007-05-15 80540000 TO FINANCE CONSTRUCTION OF STUDENT HOUSING FACILITY 0 0 0 B PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 232243852 70917R466 2012-04-12 37915000 REFINANCE ORIGINAL LOAN USED TO CONSTRUCT STUDENT HOUSING FACILITY 1 0 0 C PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 232243852 70917SVK6 2015-12-22 68375000 REFINANCE ORIGINAL LOAN USED TO CONSTRUCT STUDENT HOUSING FACILITY 0 0 0 A 80540000 6493664 1354900 3376850 2305487 68655064 2008 0 0 1 1 B 37915000 2740390 484932 37043466 2010 1 0 1 1 C 68375000 68375000 2009 1 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 A 1 1 1 MORGAN KEGAN 32.000000000000 1 0 0 0 0 B 1 0 0 0 0 0 C 1 0 1 DEUTSCHE BANK 25.000000000000 1 0 0 0 0 A 0 B 0 C 0 PART I LINE B THE SERIES 2012 REVENUE BONDS WERE RETIRED DURING THE FISCAL YEAR. X 3 97293 FAIR MARKET VALUE 0 0 0 FORM 990, PART III, LINE 3 DURING THE YEAR ENDED JUNE 30, 2018 THE FOUNDATION FOR IUP DECIDED TO SELL PHASE IV OF ITS STUDENT FACILITIES TO RESIDENTAIL REVIVAL INDIANA (RRI). THE SALE COMPRISED OF BUILDINGS, EQUIPMENT, CASH RESERVES, OTHER CURRENT ASSETS, AND DEFERRED REVENUE. FORM 990, PART VI, SECTION A, LINE 1 THE STANDING COMMITTEES OF THE FOUNDATION SHALL BE THE EXECUTIVE COMMITTEE, THE NOMINATING COMMITTEE, FINANCE COMMITTEE, INVESTMENT COMMITTEE, AND AUDIT COMMITTEE. THE BOARD OF DIRECTORS MAY, BY RESOLUTION ADOPTED BY AT LEAST A MAJORITY OF THE VOTING DIRECTORS IN OFFICE, ESTABLISH ONE OR MORE ADDITIONAL STANDING OR OTHER COMMITTEES AND TERMINATE ANY STANDING OR OTHER COMMITTEE. NOTICE OF A PROPOSAL TO ESTABLISH OR ELIMINATE A STANDING COMMITTEE SHALL BE GIVEN AT LEAST FIVE (5) DAYS PRIOR TO THE DATE OF ANY REGULAR OR SPECIAL MEETING OF THE BOARD OF DIRECTORS AT WHICH SUCH PROPOSAL WILL BE CONSIDERED. EACH STANDING COMMITTEE SHALL HAVE SUCH NUMBER OF VOTING MEMBERS AS ARE STATED IN THE BYLAWS. EACH STANDING COMMITTEE ESTABLISHED BY THE BOARD OF DIRECTORS IN COMPLIANCE WITH THE BYLAWS SHALL HAVE SUCH NUMBER OF VOTING MEMBERS AS THE BOARD MAY DESIGNATE. THE FOUNDATION'S PRESIDENT SHALL BE A VOTING MEMBER AND CHAIR OF THE EXECUTIVE COMMITTEE AND EX OFFICIO NON-VOTING MEMBER OF ALL OTHER COMMITTEES. THE BOARD MAY APPOINT NOT MORE THAN TWO (2) ADDITIONAL EX OFFICIO MEMBERS OF EACH COMMITTEE. THE CHAIR OF EACH COMMITTEE MUST BE A FOUNDATION DIRECTOR. EXCEPTING ONLY A COMMITTEE CHAIR, COMMITTEE MEMBERS MAY, BUT NEED NOT BE, DIRECTORS OF THE FOUNDATION. ALL COMMITTEE MEMBERS SHALL HAVE THE RIGHT TO VOTE AND SHALL BE COUNTED IN DETERMINING THE PRESENCE OF A QUORUM. THE MAJORITY OF THE VOTING MEMBERS OF A COMMITTEE IN OFFICE SHALL BE NECESSARY TO CONSTITUTE A QUORUM FOR THE TRANSACTION OF BUSINESS, AND THE ACTS OF A MAJORITY OF THE VOTING MEMBERS PRESENT AT A MEETING AT WHICH A QUORUM WAS PRESENT WHEN THE MEETING BEGAN SHALL BE THE ACTS OF THE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS DELEGATES THE REVIEW OF THE 990 AND RELATED SCHEDULES TO THE AUDIT COMMITTEE AND DIRECTOR OF FINANCIAL OPERATIONS UNDER THEIR RECOMMENDATION, THE 990 IS APPROVED FOR FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE BYLAWS STATE THAT AN INDIVIDUAL MUST EXPOSE THE CONFLICT AND REMOVE THEMSELVES FROM THE VOTE IF THE BOARD HAS REASONABLE CAUSE TO BELIEVE THAT A DIRECTOR, OFFICER, OR COMMITTEE MEMBER HAD FAILED TO DISCLOSE AN ACTUAL OR POSSIBLY FINANCIAL INTEREST, IT WILL AFFORD THE DIRECTOR, OFFICER OR COMMITTEE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE THE CONFLICT OF INTEREST. IF AFTER HEARING THE RESPONSE AND MAKING SUCH FURTHER INVESTIGATION AS THE BOARD DEEMS APPROPRIATE, THE BOARD DETERMINES THAT THE DIRECTOR, OFFICER OR COMMITTEE MEMBER HAS IN FACT FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT WILL TAKE APPROPRIATE ACTION, WHICH MAY INCLUDE IMMEDIATE REMOVAL FROM THE POSITION HELD WITHIN THE FOUNDATION FOR IUP. FORM 990, PART VI, SECTION B, LINE 15 THE FOUNDATION FOR IUP HAS AN EXECUTIVE COMMITTEE MADE UP OF BOARD MEMBERS WHO EVALUATE THE COMPENSATION FOR THE DIRECTOR AND ALL EMPLOYEES OF THE ORGANIZATION USING AVAILABLE COMPARABILITY DATA PROVIDED BY THE UNIVERSITY (IUP). THE EXECUTIVE COMMITTEE REVIEWS AND APPROVES THE COMPENSATION AND BRINGS THE DECISIONS TO THE FULL BOARD OF DIRECTORS TO APPROVE. FORM 990, PART VI, SECTION C, LINE 19 NO DOCUMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: UNREALIZED GAIN ON INTEREST RATE SWAP AGREEMENTS 8,197,454. CRIMSON HAWKS HOSPITALITY LLC MANAGEMENT DE 0 0 N/A RESIDENTIAL REVIVAL INDIANA 1099 MAPLE STREET RUDDOCK G-42 INDIANA PA 15705 812092154 STUDENT HOUSING FACILITIES PA 501(C)(3) LINE 5 INDIANA UNIVERSITY OF PENNSYLVANIA 0 INDIANA UNIVERSITY OF PENNSYLVANIA 1011 SOUTH DRIVE INDIANA PA 15705 251470695 EDUCATION PA 501(C)(3) LINE 5 0 0 1 0 1 0 0 1 0 0 1 1 1 1 0 0 0 1 0 0 INDIANA UNIVERSITY OF PENNSYLVANIA L 881347 COST RESIDENTIAL REVIVAL INDIANA L 171054 COST RESIDENTIAL REVIVAL INDIANA G 42300000 COST RESIDENTIAL REVIVAL INDIANA Q 86250 COST INDIANA UNIVERSITY OF PENNSYLVANIA K 93187 COST INDIANA UNIVERSITY OF PENNSYLVANIA J 1124498 COST INDIANA UNIVERSITY OF PENNSYLVANIA B 10280937 COST INDIANA UNIVERSITY OF PENNSYLVANIA M 2384841 COST RESIDENTIAL REVIVAL INDIANA D 19704247 COST