2018-04-09T12:09:32-05:00 2017-06-30 010523282 Berry Dunn McNeil & Parker LLC PO Box 1100 Portland ME 041041100 990 2016-07-01 016011501 University of Maine Foundation UNIV 2075815100 Two Alumni Place Orono ME 044695792 Jeffery Mills President/CEO 2075815100 2018-01-29 1 Barbara J McGuan CPA P00219457 2077752387 2018-01-27 69.49.157.66 2018-01-29 08:59:58 ES P A008E2FD9533E1BBB31C63A12AF0D0E643CE99E5 195DD2390B87809A4F2C1BC02D65E16960466FA1 2016 2021-01-29 14:40:06Z Jeffery Mills Two Alumni Place Orono ME 044695792 39165113 0 X www.umainefoundation.org X 1934 ME Fundraising and endowment management for the benefit of the University of Maine 7 7 42 50 -223 -223 10816338 10362089 1240344 4649232 1045479 4300956 591800 450045 13693961 19762322 8759881 8834610 0 0 2285586 3886526 0 0 2494115 2297889 2550294 13343356 15271430 350605 4490892 208441203 232941554 5748912 5942503 202692291 226999051 The Foundation, acting as a separate organization works with all entities to encourage philanthropic support by growing the endowment through planned/deferred giving for the University of Maine and other charitable organizations while carrying out donor's wishes. 0 0 10010359 8768775 4649232 Gifts and endowment income distributed for scholarships and general support for the benefit of the University of Maine 346585 Distributions to trust, gift annuity and pooled income fund participants 85835 65835 Distributions of gifts and endowment income to other qualified charities 10442779 1 1 0 1 0 1 0 1 1 1 1 1 0 1 1 0 1 0 0 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 X 103 0 1 42 1 0 1 CJ VI BD 0 0 0 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 NH X X Jeffery Mills 2075815100 Two Alumni Place Orono ME 04469 Jon F Dawson Director 1.00 X 0 0 0 Maria R Fuentes Vice Chair 1.00 X X 0 0 0 Donna L Hathaway Director 1.00 X 0 0 0 Edward J Keefe Director 1.00 X 0 0 0 Carroll R Lee Past Director 1.00 X 0 0 0 Kurt R Marston Chair 1.00 X X 0 0 0 Eldon L Morrison Director 1.00 X 0 0 0 Henry LP Schmelzer Director 1.00 X 0 0 0 David M Austin Secretary 1.00 X 0 0 0 Jeffery N Mills President & CEO 40.00 X 258095 0 69397 Kevin J Frazier CFO 40.00 X 143339 0 36213 Robert A Strong Treasurer 1.00 X 0 0 0 Sarah McPartland-Good Director of Planned Giving 40.00 X 130762 0 39024 532196 0 144634 3 0 1 0 Cambridge Associates LLC 125 High Street Boston MA 021102110 Investment Consultant 241392 1 10362089 1754025 10362089 Advancement Svcs. Agreement Rev. 900099 4649232 4649232 4649232 2878929 -223 2879152 20274743 550075 18629021 773770 1645722 -223695 1422027 1422027 Other Revenue 900099 450045 450045 450045 19762322 4649232 -223 4751224 8834610 8834610 507044 130909 128914 247221 2065372 533240 525112 1007020 165228 42659 42008 80561 979867 252983 249127 477757 169015 43637 42971 82407 4258 4258 23490 23490 1084793 1084793 13797 3562 3508 6727 224906 58067 57182 109657 211797 54682 53848 103267 141053 36417 35862 68774 126736 32721 32222 61793 41472 10708 10543 20221 669 669 65158 16824 16565 31769 50287 12983 12785 24519 Life Income Participant 346585 346585 Fundraising Expenses 150660 150660 Dues & Subscriptions 34798 8984 8847 16967 Miscellaneous Expenses 29835 22539 2501 4795 15271430 10442779 2334536 2494115 X 608958 2267940 6658876 4657149 1412554 1396872 101016 118578 374696 227139 6186929 212969 6172699 5973960 133967194 156053492 46884543 50453617 12260667 11792807 208441203 232941554 593323 874656 2835137 3065958 522628 99413 1797824 1902476 5748912 5942503 X 3522700 9943049 46068770 59742786 153100821 157313216 202692291 226999051 208441203 232941554 X 4490892 19817597 -1729 X 0 1 X 1 0 X 7816126 13636516 12283217 10816338 10362089 54914286 7816126 13636516 12283217 10816338 10362089 54914286 54914286 3804662 2256909 2561989 3105283 2878929 14607772 281411 131608 341416 591800 450045 1796280 71318338 5889576 0.77000 0.76950 X Schedule A, Part II, Line 10, Explanation of Other Income: Other Revenue - 2012 Amount: $ 281,411. 2013 Amount: $ 131,608. 2014 Amount: $ 341,416. 2015 Amount: $ 591,800. 2016 Amount: $ 450,045. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 1 20000 0 0 0 20000 0 9 13000 33000 1025076 1 1 385167 X See Part XIII 1 0 1 X 179886988 7734016 22774041 4907568 2475176 203012301 185612561 11253104 -7007175 7655696 2315806 179886988 189150635 10556340 -4337675 7314671 2442068 185612561 162834662 13167468 23576583 7813467 2614611 189150635 148298359 7580278 13645945 4914876 1775044 162834662 0.03250 0.75900 0.20850 0 0 5767315 5767315 419614 212969 206645 5973960 50453617 F 50453617 Private Stock 21079 Irrevocable Trusts 8514955 Cash Surrender Value Life Insurance 157437 Buchanan Alumni House Holdings 2681724 Artwork & Collections 385167 Other Assets 32445 11792807 Distributions Due to Life Income Beneficiaries 1902476 1902476 38493397 19817597 19817597 18675800 1084793 1729 1086522 19762322 14186637 0 14186637 1084793 1084793 15271430 Part III, Line 4: The Foundation's collections are held for sale and the proceeds are used to further benefit the University of Maine. The Foundation's collections consist of various paintings, china and silver, jewelry and a Hummell collection. Part IV, Line 2b: Custodial accounts consist of funds of other qualified charities held at the Foundation for investment administrative purposes. Part V, Line 4: The Foundation aims to protect the purchasing power of the endowment by providing a rate of growth to keep pace with inflation and pay out an adequate amount of income to support the purpose of the endowment (scholarships, research, professorships, and other needs). Part XI, Line 4b - Other Adjustments: Decrease in Cash Surrender Value of Life Insurance 1,729. Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 Investments 36338712 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium 0 0 Investments 3464187 0 0 0 0 0 0 39802899 0 39802899 0 0 1 0 0 0 1 University of Maine University of Maine System Orono ME 04469 016000769 501(c)(3) 5944918 General Maine 4-H Foundation 5741 Libby Hall Orono ME 04469 016011497 501(c)(3) 59099 General Town of Searsmont PO Box 56 Searsmont ME 04973 010390148 Searsmont, Maine 6181 Government United Methodist Church PO Box 33 Searmont ME 04973 016013581 501(c)(3) 12362 General University of Maine University of Maine System Orono ME 04469 016000769 501(c)(3) 2450212 Gifts transferred to University pursuant to the development service agreement. 5 0 Part I, Line 2: The Foundation monitors the use of University grant funds by conducting an internal audit on a group of randomly selected funds each year. During the fiscal year audit the auditors conduct an independent review of a random group of funds. X X X 0 0 0 0 0 0 0 1 0 Jeffery N Mills President & CEO 238503 0 10000 0 9592 0 44378 0 25019 0 327492 0 0 0 Kevin J Frazier CFO 133061 0 9650 0 628 0 14798 0 21415 0 179552 0 0 0 Sarah McPartland-Good Director of Planned Giving 119693 0 6400 0 4669 0 13498 0 25526 0 169786 0 0 0 Part I, Line 7 Jeffery Mills, Kevin Frazier, and Sarah McPartland-Good receive bonus compensation contingent upon meeting both individual and organizational goals. The goals are not contingent upon the net earnings or revenues of the Organization. X 35 35880 Expert Opinion X 89 1423644 FMV X 3 294501 Expert opinion 0 0 1 1 Part I, Line 32b: The Foundation uses third parties who are professionals for the sale of non-cash contributions such as art and securities. Form 990, Part VI, Section A, line 6 The Foundation has members. Form 990, Part VI, Section A, line 7a The Foundation is governed by membership which elects directors. Form 990, Part VI, Section A, line 7b The Foundation is governed by membership which elects directors. Form 990, Part VI, Section B, line 11b The information is provided to the preparer by the Manager of Accounting. A draft is completed, reviewed by the Manager of Accounting, the CFO, and President/CEO. A draft is also sent to all board members who are given a set amount of time to review and comment, typically two weeks. Form 990, Part VI, Section B, line 12c All new employees, board, and investment committee members complete and sign a conflict of interest disclosure statement. Any real or potential conflict is monitored and enforced in accordance with the conflict of interest policy. Form 990, Part VI, Section B, line 15 The Chair of the board reviews organization and personal goals and makes recommendations for executive compensation (President/CEO) to the board of directors after it has been reviewed by the budget committee. The budget committee of the University of Maine Foundation has established the following criteria for the process and evaluation: A. Approval by independent governing board in advance, composed entirely of individuals who do not have a conflict of interest. The President/CEO is not present at meetings. B. Reliance on comparable data through compensation surveys compiled by independent firms. C. Document basis for determination in committee and board meeting minutes. Minutes reflect the terms of the transaction, date of approval, members of the governing board who were present and voted, the data used from the compensation surveys and peer institutions and how the data was obtained. The determination is summarized in a letter from the board Chair to the President/CEO of The Foundation before any compensation is paid. Form 990, Part VI, Section C, line 19 Audited financial statement, Form 990, donor bill of rights, and The Foundation's confidentiality policy is found on our website, umainefoundation.org. A complete copy of the by-laws and conflict of interest policy are available upon request. Form 990, Part X, Line 10: Land, Buildings, and Equipment Section 1.263(a)-3(n) Election: University of Maine Foundation Two Alumni Place Orono, ME 04469-5792 EIN 01-6011501 University of Maine Foundation is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n). Form 990, Part XI, line 9: Decrease in Cash Surrender Value of Life Insurance -1,729. Pooled Income Funds (2) Two Alumni Place Orono ME 04469 Split Interest Trust ME T 1190003 0 Charitable Lead Trusts (6) Two Alumni Place Orono ME 04469 Split Interest Trust ME T 1666664 0 Charitable Remainder Trusts (23) Two Alumni Place Orono ME 04469 Split Interest Trust ME T 5612309 0 Charitable Perpetual Trusts (6) Two Alumni Place Orono ME 04469 Split Interest Trust ME T 1235982 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 Charitable Lead Trusts (6) S 123349 Annuity/Trust Payments Charitable Remainder Trusts (23) S 137706 Remainder Interest