2018-03-08T07:39:03-06:00 2017-06-30 381357951 PLANTE & MORAN PLLC 750 Trade Centre Way Ste 300 Portage MI 49002 990 2016-07-01 310896555 THE UNIVERSITY OF CINCINNATI FOUNDATION UNIV 5135566781 PO BOX 19970 CINCINNATI OH 452190970 THOMAS D FREEMAN VP/CFO 5135566781 2018-02-27 1 Carol LaLonde CPA P00181637 2695674500 2018-02-27 67.59.56.32 2018-02-27 12:50:44 ES P 737BA0023E8B7B7720E7709DD3402E7D4390A0C6 58F74DC53CB874483B207ADF23CD6921384352E9 2016 2021-01-29 14:40:06Z W TROY NEAT PO BOX 19970 CINCINNATI OH 452190970 127169835 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. 64 64 208 1550 151000 150000 232765380 68031528 0 26269538 9620118 18971844 25017190 459434 267402688 113732344 209840465 50471635 0 0 15628058 17225770 534932 508796 22860431 6377309 11698490 232380764 79904691 35021924 33827653 470416632 525626343 25968683 24771698 444447949 500854645 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 50471635 50471635 26118538 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. 50471635 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 1 0 0 0 1 0 1 0 1 87 0 1 208 1 1 1 0 0 0 0 1 1 0 0 0 0 X 64 64 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 ROBERT L FEALY CHAIR/PRESIDENT 1.00 0.00 X X 0 0 0 WILLIAM T NEAT VICE 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 CLARK E BECK 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 KEN V BYERS TRUSTEE 1.00 0.00 X 0 0 0 DANIEL P CARMICHAEL 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 DAVID B DILLON TRUSTEE 1.00 0.00 X 0 0 0 ROBERT E DOBBS TRUSTEE 1.00 0.00 X 0 0 0 DIANNE G DUNKELMAN TRUSTEE 1.00 0.00 X 0 0 0 BRIAN E HALL TRUSTEE 1.00 0.00 X 0 0 0 DONALD C HARRISON TRUSTEE 1.00 0.00 X 0 0 0 CARRIE K HAYDEN TRUSTEE 1.00 0.00 X 0 0 0 ROBERT A HEIMANN 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 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 MARVIN P KOLODZIK TRUSTEE 1.00 0.00 X 0 0 0 WILLIAM H KRUL TRUSTEE 1.00 0.00 X 0 0 0 LOUIS H LAUCH TRUSTEE 1.00 0.00 X 0 0 0 WILLIAM E LOWER 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 THOMAS E MISCHELL TRUSTEE 1.00 0.00 X 0 0 0 JOFFRE P MOINE TRUSTEE 1.00 0.00 X 0 0 0 WILLIAM B MONNIG 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 VALERIE L NEWELL 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 JAMES E SCHWAB TRUSTEE 1.00 0.00 X 0 0 0 RICHARD C SEAL 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 MARGARET K VALENTINE TRUSTEE 1.00 0.00 X 0 0 0 SANDRA S WIESMANN TRUSTEE 1.00 0.00 X 0 0 0 JEFFREY P WILLIAMS TRUSTEE 1.00 0.00 X 0 0 0 STEVEN A WILSON 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 WILBERT L ZIEGLER TRUSTEE 1.00 0.00 X 0 0 0 OTTO M BUDIG JR TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 THOMAS H HUMES JR TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 JERRY P LEAMON TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 MYRON E ULLMAN III TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 ANTHONY ZINGALE TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 THOMAS D FREEMAN VP, CFO, TREASURER 40.00 0.00 X 250247 0 35715 LYNNETTE M HEARD EXEC DIRECTOR/SECRETARY 40.00 0.00 X 94788 0 14576 RODNEY M GRABOWSKI PRESIDENT - PART YEAR 40.00 0.00 X 489006 0 54626 DEBORAH J ROBINSON VP FOR DEVELOPMENT 40.00 0.00 X 267944 0 39342 CHRISTOPHER J SMITH VP ALUMNI AFFAIRS, AHC 40.00 0.00 X 255469 0 55280 JENNIFER L HEISEY EX. DIR.,VP ALUMNI RELATIONS 40.00 0.00 X 214670 0 30644 LAURA A BOLDUC VP DONOR ENGAGEMENT 40.00 0.00 X 209436 0 32162 DONNA GASTEVICH SR. VP ADVANCEMENT 40.00 0.00 X 335949 0 41171 CARRIE E WHITE VP ADVANCEMENT SERVICES 40.00 0.00 X 196761 0 39488 EARL J BROWNING AVP CENTRAL PROGRAMS 40.00 0.00 X 185858 0 21307 NICHOLAS KARAGOSIAN VP & EXEC DIRECTOR, BICENTENNIAL 40.00 0.00 X 187349 0 25827 KAREN HATCHER AVP DEVELOPMENT, ATHLETICS 40.00 0.00 X 164014 0 18477 2851491 0 408615 31 0 1 0 160OVER90 FL LLC 510 WALNUT STREET 19TH FLOOR PHILADELPHIA PA 19106 BRANDING/MARKETING 798098 RUFFALO NOEL LEVITZ PO BOX 718 DES MOINES IA 50303 FUNDRAISING 497966 BLACKBAUD PO BOX 930256 ATLANTA GA 31193 SYSTEM IMPLEMENTATION 480143 DINSMORE & SHOHL LLP PO BOX 639038 CINCINNATI OH 45263 LEGAL 127813 GRANT THORNTON LLP 3825 EDWARDS RD CINCINNATI OH 45209 AUDIT 109574 5 68031528 10286478 68031528 GENERAL MANAGEMENT FEE 900099 13081973 13081973 END FUND-RAISING ASSESSMENT 900099 8962329 8962329 GIFT INVESTMENT FEE REVENUE 900099 1852770 1852770 MISCELLANEOUS INCOME 900099 1077218 1077218 UC COLLEGE SUPPORT 900099 748099 748099 547149 396149 151000 26269538 7322364 7322364 24482923 12829408 4035 11653515 -4035 11649480 11649480 1063482 604048 459434 459434 113732344 26118538 151000 19431278 50471635 50471635 1847158 288336 1558822 11207204 1950929 9256275 745649 169229 576420 2500432 704131 1796301 925327 176325 749002 191715 191715 163007 163007 508796 508796 22857 22857 1218762 178121 1040641 701454 4213 697241 582150 423366 158784 587728 469446 118282 440571 406230 34341 304485 4198 300287 323348 50424 272924 1434349 1308053 126296 44466 43811 655 FUNDRAISING ASSESSMENT 5073849 5073849 CULTIVATION 200062 300 199762 ALUMNI AFFAIRS-MED. 100620 100620 MEMBERSHIP DUES 89457 10450 79007 219610 7484 212126 79904691 50471635 6572625 22860431 15479099 10349843 99776336 104856996 3042506 2777536 274328 433777 7622071 4412170 4101962 3209901 346516836 402710229 1225565 1288061 470416632 525626343 9337468 9710233 0 232573 16631215 14828892 25968683 24771698 X -30023140 -19072101 147247583 175571158 327223506 344355588 444447949 500854645 470416632 525626343 X 33827653 20817171 1761872 X X 0 1 X 1 0 X 63469064 65111927 48350995 68644908 68031528 313608422 271743 271743 63469064 65111927 48350995 68644908 68303271 313880165 17455424 296424741 8534599 10643846 10877325 9500236 7322364 46878370 1063482 1063482 361822017 101504120 0.81930 0.76260 X Schedule A, Part II, Line 10, Explanation of Other Income: FUNDRAISING EVENT REVENUE - 2016 Amount: $ 1,063,482. SCHEDULE A, PART II, LINES 1 & 5 PRIOR YEAR AMOUNTS REPORTED ON SCHEDULE A, PART II, LINES 1 AND 5 HAVE BEEN ADJUSTED TO ELIMINATE THE REPORTING OF AGENCY TRANSACTIONS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 342447190 24532065 25234689 1715097 5431142 385067705 327940685 35970565 -10464814 2889271 8109975 342447190 318833003 22701180 -2601629 2563333 8428536 327940685 266053755 33274912 31472000 3127851 8839813 318833003 238186016 23302028 15918478 3843841 6508926 267053755 0.13270 0.79870 0.06860 0 0 1549511 1374707 174804 1172874 988676 184198 4899686 2048787 2850899 3209901 AGENCY PAYABLE 12580686 TRUST HELD FOR THE BENEFIT OF OTHERS 1455514 REFUNDABLE DEPOSITS 779384 PAYABLE TO RELATED ORGANIZATION 13308 14828892 X 137843379 20817171 470509 2219307 23506987 114336392 -604048 -604048 113732344 81436683 470509 1061483 1531992 79904691 0 79904691 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 2016, 2015 AND 2014. AS OF JUNE 30, 2017 AND 2016, THE FOUNDATION HAS NO ASSETS OR LIABILITIES RECORDED RELATED TO UNCERTAIN TAX POSITIONS. Part XI, Line 2d - Other Adjustments: ACQUISITION OF UNIVERSITY OF CINCINNATI ALUMNI ASSOCIATION ASSETS 2,219,307. Part XI, Line 4b - Other Adjustments: FUNDRAISING EVENT EXPENSES -604,048. Part XII, Line 2d - Other Adjustments: CHANGE IN PV OF ANNUITIES PAYABLE 457,435. FUNDRAISING EVENT EXPENSES 604,048. X 1 RUFFALO NOEL LEVITZ LLC 1025 KIRKWOOD PARKWAY SW CEDAR RAPIDS IA 52404 TELEFUND 0 1087400 508796 578604 1087400 508796 578604 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 LEGACY CELEBRATION 163362 163362 46088 7000 ALUMNI AWARDS 147514 147514 7049 2450 16 752606 752606 7000 2023 26019 230508 18180 257731 1063482 1063482 7000 2023 26019 283645 18180 267181 604048 459434 1 UNIVERSITY OF CINCINNATI 2624 CLIFTON AVENUE CINCINNATI OH 45221 316000989 115 49255123 1216512 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 1 1 X X X 0 1 0 1 0 0 0 0 0 THOMAS D FREEMAN VP, CFO, TREASURER 219837 0 30248 0 162 0 21871 0 13844 0 285962 0 0 0 RODNEY M GRABOWSKI PRESIDENT - PART YEAR 381563 0 69375 0 38068 0 18000 0 36626 0 543632 0 0 0 DEBORAH J ROBINSON VP FOR DEVELOPMENT 235226 0 32445 0 273 0 23523 0 15819 0 307286 0 0 0 CHRISTOPHER J SMITH VP ALUMNI AFFAIRS, AHC 228449 0 15450 0 11570 0 26771 0 28509 0 310749 0 0 0 JENNIFER L HEISEY EX. DIR.,VP ALUMNI RELATIONS 188645 0 25956 0 69 0 18000 0 12644 0 245314 0 0 0 LAURA A BOLDUC VP DONOR ENGAGEMENT 183947 0 25372 0 117 0 18395 0 13767 0 241598 0 0 0 DONNA GASTEVICH SR. VP ADVANCEMENT 279830 0 39900 0 16219 0 23644 0 17527 0 377120 0 0 0 CARRIE E WHITE VP ADVANCEMENT SERVICES 172924 0 23793 0 44 0 17292 0 22196 0 236249 0 0 0 EARL J BROWNING AVP CENTRAL PROGRAMS 163232 0 22460 0 166 0 8162 0 13145 0 207165 0 0 0 NICHOLAS KARAGOSIAN VP & EXEC DIRECTOR, BICENTENNIAL 164944 0 22351 0 54 0 426 0 25401 0 213176 0 0 0 KAREN HATCHER AVP DEVELOPMENT, ATHLETICS 146608 0 16686 0 720 0 14661 0 3816 0 182491 0 0 0 Part I, Line 4b 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, 2017 AND 2016. 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 194 9069966 AVG HIGH/LOW PRICE X 2 1144000 OPINION OF EXPERTS X PROMO. MAT/EVENTS 61 72512 COST/SELLING PRICE 194 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, LINES 8 & 13 THE CONTRIBUTION AND GRANT REVENUE AND THE GRANTS AND SIMILAR AMOUNTS PAID FOR THE PRIOR YEAR ARE SIGNIFICANTLY HIGHER THAN THE CURRENT YEAR AMOUNTS. THIS IS DUE TO A CHANGE IN THE REPORTING OF CERTAIN REVENUE ITEMS ON THE FORM 990. THE PRIOR YEAR REVENUE INCLUDED A TOTAL OF $164,120,472 FROM UC HEALTH, THE LINDNER CENTER OF HOPE AND DONATIONS RECEIVED DIRECTLY BY THE UNIVERSITY OF CINCINNATI, INCLUDING LIMITED USE SOFTWARE LICENSES. FOR THE CURRENT YEAR, THIS REVENUE WILL BE EXCLUDED. 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 2017. 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 -457,435. ADDITION OF UCAA ASSETS ACQUIRED 2,219,307. 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 1 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 UNIVERSITY OF CINCINNATI B 50471635 FMV