2018-02-12T09:27:58-06:00 2017-06-30 520959934 ELLIN & TUCKER CHARTERED 400 EAST PRATT ST SUITE 200 BALTIMORE MD 21202 990 2016-07-01 520939453 TOWSON UNIVERSITY FOUNDATION INC TOWS 4107042040 8000 YORK ROAD TOWSON MD 212520001 JOHN J MEASE JR VICE PRESIDENT AND CFO 4107042040 2018-02-07 1 SUSAN KELLER P00245169 4107275735 65.246.120.254 2018-02-07 17:20:27 ES P 743BEA6178D1F6D817EC0694E3F52D2FCA7ADEAC 1606324B6494D2AE9B3885D25354DD8DF7198ECA 2016 2021-01-29 14:40:06Z JOHN J MEASE JR 8000 YORK ROAD TOWSON MD 212520001 12486188 0 X WWW.TUFOUNDATION.ORG X 1970 MD TO RAISE, INVEST, AND DISBURSE FUNDS FOR THE BENEFIT OF TOWSON UNIVERSITY. 20 20 71 20 0 0 4217798 4906702 334090 421250 1722710 3357384 363050 516907 6637648 9202243 3567966 3043323 0 0 395523 405811 0 182000 539094 3548698 2529466 7512187 6160600 -874539 3041643 68265985 74465302 1537224 645862 66728761 73819440 X TOWSON UNIVERSITY FOUNDATION, INC. IS ORGANIZED TO RECEIVE, HOLD, INVEST, MANAGE, USE, DISPOSE OF AND ADMINISTER PROPERTY OF ALL KINDS WHETHER GIVEN ABSOLUTELY, IN TRUST OR BY WAY OF AGENCY OR OTHERWISE FOR THE BENEFIT AND PROMOTION OF TOWSON UNIVERSITY OR FOR ALL OF THE EDUCATION AND SUPPORT ACTIVITIES THAT MAY BE CONDUCTED BY TOWSON UNIVERSITY. 0 0 1574364 1574364 SCHOLARSHIPS AND AWARDSTOWSON UNIVERSITY FOUNDATION IS COMMITTED TO PROVIDING STUDENTS WITH THE OPPORTUNITY TO OBTAIN A LIBERAL ARTS EDUCATION - AN EDUCATION THAT HELPS STUDENTS DEVELOP THE ABILITY TO THINK CRITICALLY; TO BE LITERATE, INFORMED AND ARTICULATE; TO HONOR DIVERSITY; TO DISCUSS AND DEBATE IDEAS AND ISSUES FROM MULTIPLE PERSPECTIVES, AND TO BE CAPABLE OF TAKING ON RESPONSIBILITY IN AN EVER-CHANGING WORLD. TO CREATE THOSE OPPORTUNITIES, MANY STUDENTS NEED AND DESERVE FINANCIAL ASSISTANCE. TOWSON UNIVERSITY FOUNDATION HAS 296 ENDOWED SCHOLARSHIPS AND PRESENTS ADDITIONAL CASH AWARDS EACH YEAR TO DESERVING STUDENTS FROM EXISTING OPERATING FUNDS. SINCE STATE OF MARYLAND FUNDING NOW ACCOUNTS FOR LESS THAN 1/3 OF THE COST OF A TOWSON UNIVERSITY EDUCATION, PRIVATE FUNDING FROM GENEROUS DONORS ALLOWS TODAY'S STUDENTS AND TOMORROW'S LEADERS TO MEET THEIR FINANCIAL OBLIGATIONS. IN THE YEAR ENDING JUNE 30, 2017, THE FOUNDATION MADE 861 SEPARATE SCHOLARSHIP AWARDS TO DESERVING STUDENTS TOTALING $1,574,364. 395816 ATHLETIC PROGRAMS THE FOUNDATION SOLICITS AND MANAGES FUNDS IN SUPPORT OF THE UNIVERSITY'S ALIGNED VISION FOR ATHLETICS, WHICH STATES "TOWSON UNIVERSITY IS COMMITTED TO A FINANCIALLY STABLE, GENDER-EQUITABLE AND COMPETITIVE ATHLETICS PROGRAM. THE UNIVERSITY WILL CONTINUE TO SUPPORT THESE GOALS BY PLACING ACADEMICS FIRST. WE WILL SUPPORT OPPORTUNITIES FOR ALL TOWSON STUDENTS TO PARTICIPATE IN A RANGE OF SPORTS ACTIVITIES AND LEADERSHIP OPPORTUNITIES THAT SUPPORT PHYSICAL WELL-BEING AND PERSONAL EXCELLENCE." THE UNIVERSITY CURRENTLY FIELDS 19 DIVISION I ATHLETIC TEAMS (13 IN WOMEN'S SPORTS, 6 IN MEN'S SPORTS). 1470082 1468959 UNIVERSITY SUPPORT TO CREATE AN ENVIRONMENT THAT IS CONDUCIVE TO LEARNING, INSTITUTIONS OF HIGHER LEARNING MUST HAVE PROPER FACILITIES AND FACULTY DEDICATED TO TEACHING. FUNDS ARE MADE AVAILABLE FOR USE BY THE UNIVERSITY PRESIDENT, THE VICE PRESIDENTS AND THE DEANS OF THE SEVEN COLLEGES TO SUPPORT AREAS WHERE IMPROVEMENTS ARE NEEDED. WE REMAIN COMMITTED TO OUR GOAL OF HELPING THE UNIVERSITY ATTRACT, HIRE AND RETAIN FACULTY MEMBERS WHO ARE LEADERS IN THEIR FIELD OF STUDY, AND WHO HAVE DEMONSTRATED SUPERIOR TEACHING SKILLS. TO KEEP THEM CURRENT ON NEW DEVELOPMENTS IN THEIR FIELD AND TEACHING METHODS, THEY ARE ENCOURAGED TO PERFORM RESEARCH AND TO ATTEND SEMINARS AND CONFERENCES. IN ADDITION TO FUNDING PROVIDED BY DONORS, THE FOUNDATION ALSO MAKES FUNDS AVAILABLE TO THE UNIVERSITY PRESIDENT THROUGH THE UNRESTRICTED BUDGET PROCESS THAT HELPED TO SUPPORT THE VARIOUS PRESIDENTIAL INITIATIVES DEVELOPED FROM YEAR TO YEAR. THESE ARE INITIATIVES THAT MIGHT OTHERWISE NOT MOVE FORWARD DUE TO THE LACK OF OTHER FUNDING SOURCES. 1620427 689085 THE $1,620,427 OF OTHER PROGRAM SERVICE EXPENSES RELATE TO EXPENSES THAT SUPPORT THE VARIETY OF PROGRAMS OFFERED BY TOWSON UNIVERSITY FOR THE BENEFIT OF THE STUDENTS, FACULTY AND STAFF OF THE UNIVERSITY. ALL EXPENSES SUPPORT THE CORE MISSION OF THE FOUNDATION AND THEREFORE THAT OF THE UNIVERSITY AS WELL. THE FOUNDATION EXISTS TO SUPPORT THE UNIVERSITY THROUGH THESE EXPENDITURES. 1620427 689085 5060689 1 1 0 0 0 0 0 1 0 1 1 1 0 0 0 1 1 0 0 0 0 0 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 86 0 1 71 1 0 0 0 0 1 1 1 1 0 0 0 0 X 20 20 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AZ CA CO DC HI KY MA MD ME MI MN NH NJ NY OH OK OR SC UT WA WV X X X JOHN J MEASE JR 4107043278 7720 YORK ROAD TOWSON MD 21204 MARY F SHOCK PRESIDENT 4.00 X X 0 0 0 JOHN A HAYDEN III ESQ VICE PRESIDENT 2.00 X X 0 0 0 J WILLIAM MURRAY VICE PRESIDENT 2.00 X X 0 0 0 SALVATORE CORRENTI SECRETARY 2.00 X X 0 0 0 CHRISTOPHER S EVANS TREASURER 0.50 X X 0 0 0 RAYMOND J BRUSCA DIRECTOR 0.50 X 0 0 0 IRA W COX DIRECTOR 0.50 X 0 0 0 DOUGLAS F ERDMAN DIRECTOR 0.50 X 0 0 0 KIM A FABIAN DIRECTOR 0.50 X 0 0 0 RICHARD S FINE DIRECTOR 0.50 X 0 0 0 PAUL-SEAN GRAY DIRECTOR 0.50 X 0 0 0 LANCE E JOHNSON DIRECTOR - RESIGNED 0.50 X 0 0 0 ERIC M KRUK DIRECTOR 0.50 X 0 0 0 THERESA A LAWLER ESQ DIRECTOR 0.50 X 0 0 0 ROSEMARY MEYER DIRECTOR 0.50 X 0 0 0 ARSH S MIRMIRAN DIRECTOR 0.50 X 0 0 0 EDNA PRIMROSE DIRECTOR 0.50 X 0 0 0 HOWARD J ROSEN CPA DIRECTOR 0.50 X 0 0 0 JEFFREY J SMITH DIRECTOR 0.50 X 0 0 0 BRYAN THALER DIRECTOR 2.00 X 0 0 0 DAVID M VAHOS DIRECTOR 0.50 X 0 0 0 JOHN J MEASE JR VICE PRESIDENT/ CFO 50.00 X 141502 0 10259 141502 0 10259 1 0 1 0 CHARTWELLS DINING SERVICES PO BOX 417632 BOSTON MA 022417632 FOOD SERVICES 209828 RUFFALO NOEL LEVITZ PO BOX 718 DES MOINES IA 503030718 PROJECT MANAGEMENT 136500 2 97339 4809363 290814 4906702 SALES/MISC/CERAMIC GUILD 900099 237800 237800 MEMBERSHIP FEES 900099 183450 183450 421250 1476414 1476414 100035 100035 4998577 3117607 1880970 1880970 1880970 315375 97339 166338 149037 149037 SPECIAL PROGRAMS 900099 267835 267835 267835 9202243 689085 0 3606456 3043323 3043323 147586 147586 206237 150759 55478 19788 19788 10501 10501 21699 21261 438 18852 6118 12734 52574 52574 182000 182000 178639 99199 79440 502066 347799 9915 144352 684079 569103 114976 28529 22704 4574 1251 76440 56875 17766 1799 16161 5733 7400 3028 223343 218850 66 4427 40913 40609 304 232 232 19521 4026 15495 EDUCATIONAL PROGRAMS 277100 277100 EQUIP RENTAL & MAINT. 257313 256179 671 463 PRINTING & PUBLICATIONS 70383 69585 798 DUES AND MEMBERSHIPS 50301 36249 5782 8270 33020 7237 3475 22308 6160600 5060689 560817 539094 300 300 5614448 4924768 1480768 1622888 54005 33837 145647 144023 368 1624 53477141 57566854 7374696 10040510 264259 274521 68265985 74465302 1535856 559866 1368 85996 1537224 645862 X 3291982 3291566 23256479 29072320 40180300 41455554 66728761 73819440 68265985 74465302 X 3041643 4032691 16345 X 0 1 X 1 0 X 7009967 4341224 4591308 4217798 4906702 25066999 7009967 4341224 4591308 4217798 4906702 25066999 2895507 22171492 1641256 1501833 1805911 1591095 1576449 8116544 33183543 2988671 0.66810 0.56030 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 52651831 1731693 6726683 974561 727993 291413 59116240 53421810 1040464 106503 991511 746254 179181 52651831 52787491 747511 1529375 776041 630320 236206 53421810 45899216 547710 7768047 691939 522413 213130 52787491 39275752 2590323 5262050 632008 456187 140714 45899216 0.69000 0.31000 0 0 145647 144023 1624 1624 COMINGLED FUND INTEREST 8281491 F CLO DEBT FUND 1759019 F 10040510 X 13417617 4032691 182683 4215374 9202243 0 9202243 6326938 166338 166338 6160600 0 6160600 PART III, LINE 1A: THE FOUNDATION'S COLLECTIONS CONSIST OF ART OBJECTS AND ANTIQUES HELD FOR EDUCATIONAL, RESEARCH, SCIENTIFIC AND CURATORIAL PURPOSES. EACH OF THE ITEMS IS CATALOGUED, PRESERVED, AND CARED FOR, AND ACTIVITIES VERIFYING ITS EXISTENCE AND ASSESSING ITS CONDITION ARE PERFORMED PERIODICALLY. THE FOUNDATION ESTIMATES THE VALUE OF THE COLLECTIONS AT APPROXIMATELY $2,253,000. THE COLLECTIONS, WHICH WERE ACQUIRED THROUGH CONTRIBUTIONS SINCE THE FOUNDATION'S INCEPTION, ARE NOT RECOGNIZED AS ASSETS ON THE STATEMENTS OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED OR AS DECREASES IN TEMPORARILY RESTRICTED NET ASSETS IF THE NET ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS. CONTRIBUTIONS OF COLLECTION ITEMS ARE NOT REFLECTED IN THE FINANCIAL STATEMENTS. PROCEEDS FROM DEACCESSIONS OR INSURANCE RECOVERIES ARE REFLECTED AS INCREASES IN THE APPROPRIATE NET ASSET CLASSES. PART III, LINE 4: THE ART COLLECTION AT TOWSON UNIVERSITY IS A FOCAL POINT FOR THE PROMOTION OF THE ARTS AND CULTURES OF THE WORLD TO ITS STUDENTS, FACULTY, LOCAL, NATIONAL AND INTERNATIONAL CONSTITUENCIES. IT A) PRESENTS VISUAL AND PERFORMING ARTS, B) COLLECTS AND EXHIBITS REPRESENTATIVE ARTIFACTS AND C) OFFERS SELECT EDUCATIONAL OPPORTUNITIES, WHICH ALLOW THOSE DIVERSE CONSTITUENCIES TO EXPERIENCE AND BETTER UNDERSTAND THE AESTHETICS AND ACHIEVEMENTS OF VARIOUS CULTURES. THE EDUCATIONAL GOAL OF THE FOUNDATION IS TO PROVIDE VISITORS WITH AN UNDERSTANDING AND APPRECIATION OF THE BREADTH AND DEPTH OF ARTS AND CULTURE, WITH PRIORITY GIVEN TO: 1) MAKING THE COLLECTIONS AND THEIR RESOURCES AVAILABLE TO THE GENERAL PUBLIC, 2) PROVIDING A MOTIVATING ENVIRONMENT FOR STUDENTS OF ALL AGES TO GAIN AN UNDERSTANDING OF THE ARTS AND CULTURE, 3) SUPPORTING ARTISTS/ORGANIZATIONS WHO SHARE THE GOAL OF PRESERVING FOR FUTURE GENERATIONS SIGNIFICANT MILESTONE ACHIEVEMENTS IN ART AND, 4) DEMONSTRATING TO THE COMMUNITY, THROUGH STIMULATING EXHIBITS, ITS HISTORIC HERITAGE AND HEIGHTENING THE OVERALL AWARENESS OF AND PRIDE IN ITS CONTRIBUTIONS TO THE COMMUNITY'S QUALITY OF LIFE. PART V, LINE 4: THE ENDOWMENT ASSETS ARE UTILIZED BY THE FOUNDATION IN ACCORDANCE WITH THE WISHES OF THE DONORS. THE FOUNDATION HAS ESTABLISHED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO PRESERVE THE PURCHASING POWER OF THE ENDOWMENT ASSETS. PART X, LINE 2: THE FOUNDATION FOLLOWS THE PROVISIONS OF ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES UNDER THE INCOME TAXES TOPIC OF THE CODIFICATION. THE CODIFICATION REQUIRES THE EVALUATION OF TAX POSITIONS, WHICH INCLUDE MAINTAINING ITS TAX-EXEMPT STATUS AND THE TAXABILITY OF ANY UNRELATED BUSINESS INCOME, AND DOES NOT ALLOW RECOGNITION OF TAX POSITIONS WHICH DO NOT MEET A "MORE-LIKELY-THAN-NOT" THRESHOLD OF BEING SUSTAINED BY THE APPLICABLE TAX AUTHORITY. MANAGEMENT DOES NOT BELIEVE IT HAS TAKEN ANY TAX POSITIONS THAT WOULD NOT MEET THIS THRESHOLD. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF CHARITABLE GIFT ANNUITY 16,345. FUNDRAISING EXPENSES RECORDED WITH REVENUE 166,338. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE RECORDED WITH REVENUE 166,338. PART XI, LINE 4B AND PART XII, LINE 2D FUNDRAISING EXPENSES OF $166,037 ARE RECORDED ON THE ORGANIZATION'S EXPENSE SECTION OF THE AUDITED FINANCIAL STATEMENTS, BUT ARE INCLUDED IN THE REVENUE SECTION OF THE FORM 990. X X X X X X 1 RUFFALO NOEL LEVITZ 1025 KIRKWOOD PARKWAY SW CEDAR RAPIDS IA 52404 ONSITE MANAGEMENT OF PHONATHON-SEE PART IV 0 334786 182000 152786 334786 182000 152786 AK AZ CA CO DC HI KY MA MD ME MI MN NH NJ NY OH OK OR SC UT WA WV WOMEN'S GOLF OUTING EVENT 32540 17375 15165 18501 490 BLACK & GOLD HOF GOLF TOURNAMENT 41220 9550 31670 17250 7940 11 142086 70414 71672 18817 30292 16297 215846 97339 118507 54568 30292 24727 109587 8920 SCHEDULE G, PART I, LINE 2B, COLUMN (III) ONSITE MANAGEMENT OF THE INSTITUTION'S ANNUAL PHONATHON, A PROGRAM RESPONSIBLE FOR INCREASING DOLLARS AND ACCELERATING DONOR ACQUISITION. 1 TOWSON UNIVERSITY 8000 YORK ROAD TOWSON MD 212520001 526002033 501(C)(3) 1574364 SCHOLARSHIPS AND AWARDS TO VARIOUS RECIPIENTS TOWSON UNIVERSITY 8000 YORK ROAD TOWSON MD 212520001 526002033 501(C)(3) 305404 FMV EQUIPMENT EQUIPMENT FOR USE OF TOWSON UNIVERSITY STUDENTS TOWSON UNIVERSITY 8000 YORK ROAD TOWSON MD 212520001 526002033 501(C)(3) 1163555 SEE SCHEDULE I PART IV 3 SCHEDULE I, PART II GRANTS INCLUDE REIMBURSEMENTS TO COVER EXPENSES PAID FOR BY TOWSON UNIVERSITY, INCLUDING PAYROLL, COPIES, PRINTING, AND OTHER EXPENSES INCURRED BY TOWSON UNIVERSITY. X X X 0 0 0 0 0 0 0 0 0 JOHN J MEASE JR VICE PRESIDENT/ CFO 141502 0 0 0 0 0 10259 0 0 0 151761 0 0 0 X 17 91291 MEAN VAL/SH-GIFT DATE X EQUIPMENT 269 199523 BEST ESTIMATE OF LIK 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE FULL BOARD OF DIRECTORS HAS AUTHORIZED THE FOUNDATION'S AUDIT COMMITTEE TO CONDUCT THE ANNUAL REVIEW OF THE FORM 990, ON BEHALF OF THE ENTIRE BOARD OF DIRECTORS. AT THE ANNUAL BOARD MEETING IN MAY, THE AUDIT COMMITTEE CHAIR REPORTS THE COMMITTEE'S FINDINGS AND THE RESULTS OF THEIR REVIEW TO THE ENTIRE FULL BOARD, THEREBY MAKING THE FULL BOARD AWARE OF THE FORM 990 AS FILED. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, A DISCLOSURE FORM IS SENT TO EACH MEMBER OF THE BOARD OF DIRECTORS. THE FORM MUST BE COMPLETED, SIGNED AND RETURNED TO THE FOUNDATION. ONCE RETURNED, THE FORMS ARE REVIEWED BY THE VICE PRESIDENT. IF THERE ARE ANY FORMS INDICATING A POTENTIAL CONFLICT, THOSE FORMS ARE SHARED WITH THE EXECUTIVE VICE PRESIDENT AND THE BOARD PRESIDENT FOR FURTHER REVIEW, ACTION AND REMEDY, IF NECESSARY. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE VICE PRESIDENT (NOT A PAID EMPLOYEE OF THE FOUNDATION) SERVES AS THE DIRECT SUPERVISOR OF THE VICE PRESIDENT (WHO IS A PAID EMPLOYEE OF THE FOUNDATION). THE EXECUTIVE VICE PRESIDENT CONSULTS WITH THE BOARD'S EXECUTIVE COMMITTEE ON ALL COMPENSATION MATTERS CONCERNING THE VICE PRESIDENT. THE ENTIRE PROCESS IS GOVERNED BY OUR APPROVED AND OPERATIONAL EXECUTIVE COMPENSATION POLICY. FORM 990, PART VI, SECTION C, LINE 19 ON OUR WEBSITE, WE MAKE THE AUDITED FINANCIAL STATEMENTS AND CERTAIN GOVERNING DOCUMENTS AVAILABLE FOR REVIEW. WE ALSO MAKE THESE DOCUMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF CHARITABLE GIFT ANNUITY 16,345.