2017-06-15T13:59:25-05:00 2016-07-31 420714325 RSM US LLP 1 S WACKER DRIVE STE 800 CHICAGO IL 60606 990 2015-08-01 364480416 EDUCATIONAL ADVANCEMENT FUND INC EDUC 3129248000 525 SOUTH STATE STREET CHICAGO IL 606051616 JEFFREY BETHKE PRESIDENT 3129248000 2017-06-14 1 ZACK FORTSCH P00052725 8475177070 2015 2021-01-29 14:40:06Z UNIVERSITY CENTER OF CHICAGO JEFFREY BETHKE 525 SOUTH STATE STREET CHICAGO IL 606051616 30640471 0 X WWW.UNIVERSITYCENTER.COM X 2001 DE THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS THE MAINTENANCE OF A RESIDENTIAL HOUSING COMPLEX FOR THE BENEFIT OF THREE CHICAGO-AREA TAX-EXEMPT INSTITUTIONS OF HIGHER LEARNING AND PROVIDING HOUSING TO THE STUDENTS THEREOF. 6 0 0 0 0 0 0 0 25804353 25634633 672713 672808 4026038 4062059 30503104 30369500 2000000 6900000 0 0 0 0 0 0 0 26526913 26192903 28526913 33092903 1976191 -2723403 139176685 132385770 138478557 134411045 698128 -2025275 THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS THE MAINTENANCE OF A RESIDENTIAL HOUSING COMPLEX FOR THE BENEFIT OF THREE CHICAGO-AREA TAX-EXEMPT INSTITUTIONS OF HIGHER LEARNING AND PROVIDING HOUSING TO THE STUDENTS THEREOF. 0 0 33013566 6900000 28875410 EDUCATIONAL ADVANCEMENT FUND, INC. IS A NOT-FOR-PROFIT, TAX-EXEMPT ORGANIZATION FORMED TO ACQUIRE LAND AND CONSTRUCT, OPERATE, AND MAINTAIN A COLLEGE AND UNIVERSITY RESIDENTIAL COMPLEX. THE COMPLEX IS LOCATED AT STATE STREET AND CONGRESS PARKWAY IN CHICAGO, ILLINOIS (THE PROJECT). THE CORPORATION COMMENCED CONSTRUCTION OF THE PROJECT IN SPRING 2002, AND WAS SUBSTANTIALLY COMPLETED ON JULY 31, 2004. THE PROJECT BEGAN OPERATIONS IN AUGUST 2004. 33013566 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 23 0 1 0 0 0 0 0 0 0 0 0 0 0 X 6 0 0 1 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X JOHN D SIMON 3124567114 20 N MICHIGAN AVE SUITE 400 CHICAGO IL 60602 JEFFREY BETHKE PRESIDENT/DIRECTOR 4.00 40.00 X X 0 239497 43593 TANGELLA MADDOX TREAURER/DIRECTOR 2.00 40.00 X X 0 140727 15894 DR ALI MALEKZADEH DIRECTOR 1.00 40.00 X 0 232219 23911 DR KWANG-WU KIM DIRECTOR 1.00 40.00 X 0 476453 44804 FR DENNIS HOLTSCHNEIDER DIRECTOR 1.00 40.00 X 0 802907 77840 RICHARD DOWSEK DIRECTOR 1.00 X 0 0 0 MIROSLAVA MEJIA KRUG DIRECTOR (UNTIL 6/30/16) 1.00 40.00 X 0 286340 7358 RICHARD MORECI SECRETARY 4.00 40.00 X 0 107969 19903 0 2286112 233303 0 0 1 0 CHARTWELLS DINING SERVICES PO BOX 91337 CHICAGO IL 60693 DINING SERVICES 5452655 CBRE INC PO BOX 848844 LOS ANGELES CA 90084 MANAGEMENT SERVICES 2806410 MIDWAY BUILDING SERVICES LTD 1915 W HUBBARD STREET CHICAGO IL 60622 JANITORIAL SERVICES 915631 PREMIER SECURITIY CORP 8750 W BRYN MAWR AVENUE CHICAGO IL 60631 SECURITY SERVICES 711757 CLASSIC CARPENTRY AND FINISHING INC 5 ROSLYN ROAD WESTMONT IL 60559 BUILDING IMPROVEMENT SERVICES 626456 12 ROOM AND BOARD SERVICES 531110 25375233 25375233 RESIDENT LIFE FEES 531110 259400 259400 25634633 672808 672808 1092253 270971 821282 821282 821282 CONFERENCE HOUSING INCOME 532000 2596853 2596853 CONFERENCE CENTER INCOME 532000 489796 489796 154128 154128 3240777 30369500 28875410 0 1494090 6900000 6900000 1562874 1562874 40774 40774 34980 34980 101956 101956 180000 180000 203876 203876 1659446 1659446 170427 170427 6874731 6874731 3897599 3897599 292311 292311 FOOD SERVICE EXPENSE 6033961 6033961 CONTRACT SERVICES 3587438 3587438 CONFERENCE HOUSING EXPE 507673 507673 AMORTIZATION OF DEFERRE 422580 422580 622277 618694 3583 33092903 33013566 79337 0 12711013 8090559 1003840 912072 681328 576189 144955628 42727767 103808015 102227861 20972489 20579089 139176685 132385770 3630155 3281049 131650468 127609881 3197934 3520115 138478557 134411045 X 698128 -2025275 698128 -2025275 139176685 132385770 -2723403 0 X 0 1 X 1 0 X X 3 COLUMBIA COLLEGE CHICAGO 366112087 2 1 3300212 0 DEPAUL UNIVERSITY 362167048 2 1 2081381 0 ROOSEVELT UNIVERSITY 362167854 2 1 1518407 0 3 6900000 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 141069187 40370374 100698813 1403440 249739 1153701 2483001 2107654 375347 102227861 INTEREST RECEIVABLE 163559 DEFERRED FINANCING COSTS, NET 242270 DEFERRED LEASING COMMISSIONS, NET 172013 DEBT SERVICE RESERVE FUND 11354531 CAPITAL MAINTENANCE RESERVE FUND 5774319 PLEDGED REVENUE FUND 37055 SERIES 2006B INTEREST FUND 1121359 SERIES 2006A INTEREST FUND 556270 SERIES 2006B PRINCIPAL FUND 1127707 SERIES 2006A PRINCIPAL FUND 30006 20579089 SECURITY DEPOSITS 113448 DEFERRED CONTRACT COMMITTMENT 800000 OTHER CURRENT LIABILITIES 325833 OTHER LONG-TERM LIABILITIES 2280834 3520115 X 30640471 270971 270971 30369500 0 30369500 26463874 270971 270971 26192903 6900000 6900000 33092903 PART X, LINE 2: THE CORPORATION HAS RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE INDICATING IT IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE AND, EXCEPT FOR TAXES PERTAINING TO UNRELATED BUSINESS INCOME, IS EXEMPT FROM FEDERAL INCOME TAXES. NO PROVISION FOR THE INCOME TAXES WAS REQUIRED FOR THE YEARS ENDED JULY 31, 2016 AND 2015. THE CORPORATION FOLLOWS THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE CORPORATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF THE CORPORATION, AND VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME. THERE WERE NO UNRECOGNIZED TAX BENEFITS IDENTIFIED OR RECORDED AS LIABILITIES FOR THE YEARS ENDED JULY 31, 2016 AND 2015. THE CORPORATION FILES FORM 990 IN THE U.S. FEDERAL JURISDICTION AND IN THE STATE OF ILLINOIS. THE CORPORATION IS GENERALLY NO LONGER SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR YEARS BEFORE FISCAL 2013. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 270,971. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 270,971. PART XII, LINE 4B - OTHER ADJUSTMENTS: MEMBER SCHOOL DISTRIBUTIONS 6,900,000. 1 COLUMBIA COLLEGE CHICAGO 600 S MICHIGAN AVENUE CHICAGO IL 60605 366112087 170(B)(1)(A)(II) 3300212 SUPPORTING EDUCATIONAL PROGRAMS AND ACTIVITIES DEPAUL UNIVERSITY 1 EAST JACKSON BLVD CHICAGO IL 60604 362167048 170(B)(1)(A)(II) 2081381 SUPPORTING EDUCATIONAL PROGRAMS AND ACTIVITIES ROOSEVELT UNIVERSITY 430 S MICHIGAN AVENUE CHICAGO IL 60605 362167854 170(B)(1)(A)(II) 1518407 SUPPORTING EDUCATIONAL PROGRAMS AND ACTIVITIES 3 0 PART I, LINE 2: EDUCATIONAL ADVANCEMENT FUND OPERATES FOR THE SOLE BENEFIT OF DEPAUL UNIVERSITY, COLUMBIA COLLEGE CHICAGO, AND ROOSEVELT UNIVERSITY. ASSISTANCE IS PROVIDED TO THESE INSTITUTIONS AND NO GRANTS ARE MADE. 0 0 0 0 0 0 0 0 0 JEFFREY BETHKE PRESIDENT/DIRECTOR 0 236997 0 1000 0 1500 0 19375 0 24218 0 283090 0 0 TANGELLA MADDOX TREAURER/DIRECTOR 0 140556 0 0 0 171 0 2828 0 13066 0 156621 0 0 DR ALI MALEKZADEH DIRECTOR 0 209323 0 0 0 22896 0 17500 0 6411 0 256130 0 0 DR KWANG-WU KIM DIRECTOR 0 428280 0 0 0 48173 0 35888 0 8916 0 521257 0 0 FR DENNIS HOLTSCHNEIDER DIRECTOR 0 513309 0 208000 0 81598 0 21200 0 56640 0 880747 0 0 MIROSLAVA MEJIA KRUG DIRECTOR (UNTIL 6/30/16) 0 286160 0 0 0 180 0 2800 0 4558 0 293698 0 0 A ILLINOIS FINANCE AUTHORITY 861091967 45202QBE2 2006-10-20 123570960 STUDENT HOUSING REVENUE REFUNDING BONDS 0 0 0 B ILLINOIS FINANCE AUTHORITY 861091967 45202QAR4 2007-02-01 42337296 STUDENT HOUSING REVENUE REFUNDING BONDS 0 0 0 A 37295960 123570960 121510012 2060948 2006 0 1 1 1 B 1002416 42337296 41492344 844952 2007 1 0 1 1 A 0 0 0 0 0.04000 0.00000 0.04000 0 0 0 B 0 0 0 0 0.04000 0.00000 0.04000 0 0 0 A 1 1 0 1 WACHOVIA BANK 27.500000000000 1 0 0 B 1 0 0 1 WACHOVIA BANK 27.500000000000 1 0 0 A 0 B 0 FORM 990, PART VI, SECTION A, LINE 3 DAY-TO-DAY MANAGEMENT OF UNIVERSITY CENTER (UCC) HAS BEEN DELEGATED TO CBRE, INC. PURSUANT TO THE TERMS OF A FACILITY MANAGEMENT AGREEMENT. FORM 990, PART VI, SECTION A, LINE 6 COLUMBIA COLLEGE CHICAGO, DEPAUL UNIVERSITY, AND ROOSEVELT UNIVERSITY, EACH A NOT-FOR-PROFIT CORPORATION, ARE THE MEMBERS OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER SCHOOL IS ALLOWED TO APPOINT DIRECTORS TO THE BOARD. FORM 990, PART VI, SECTION B, LINE 11 THE ORGANIZATION'S TAX ADVISOR PREPARES THE FORM 990 BASED ON INFORMATION PROVIDED BY FINANCIAL MANAGEMENT. THE RETURNS ARE REVIEWED BY THE TAX ADVISOR AND FINANCIAL MANAGEMENT BEFORE BEING ELECTRONICALLY PROVIDED TO THE BOARD OF DIRECTORS AND SUBSEQUENTLY FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CERTIFICATE OF COMPLIANCE WILL BE COMPLETED BY ALL DIRECTORS AND OFFICERS OF EAF ANNUALLY. THE EAF OPERATING COMMITTEE WILL REVIEW AND ACT UPON ALL CONFLICT DISCLOSURES AS SOON AS THEY ARE BROUGHT TO THEIR ATTENTION. FORM 990, PART VI, SECTION B, LINE 15 NO COMPENSATION IS PAID TO DIRECTORS AND OFFICERS FROM EDUCATIONAL ADVANCEMENT FUND, INC. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE SUCH DOCUMENTS AVAILABLE TO THE GENERAL PUBLIC. COLUMBIA COLLEGE CHICAGO 600 S MICHIGAN AVENUE CHICAGO IL 60605 366112087 EDUCATION IL 501(C)3 02 N/A 0 DEPAUL UNIVERSITY 1 EAST JACKSON BLVD CHICAGO IL 60604 362167048 EDUCATION IL 501(C)3 02 N/A 0 ROOSEVELT UNIVERSITY 430 S MICHIGAN AVENUE CHICAGO IL 60605 362167854 EDUCATION IL 501(C)3 02 N/A 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0