2016-01-28T15:35:14-06:00 2015-06-30 591363792 KEEFE MCCULLOUGH & CO LLP CPA'S 6550 N FEDERAL HIGHWAY SUITE 410 FT LAUDERDALE FL 33308 990 2014-07-01 590917284 FLORIDA ATLANTIC UNIVERSITY FOUNDATION INC FLOR 5612972891 777 GLADES ROAD ADM 295 BOCA RATON FL 33431 DAVID KIAN INTERIM CEO 5612972891 2016-01-28 1 JAMES R LARAWAY P00341086 9547710896 2014 2016-04-25 22:37:26Z DAVID KIAN 777 GLADES ROAD ADM 295 BOCA RATON FL 33431 212520781 0 X HTTP://FAUF.FAU.EDU X 1960 FL TO SUPPORT FLORIDA ATLANTIC UNIVERSITY. 35 35 0 50 23950 15568 10654825 26960659 737174 724221 7527631 41312092 1538309 889414 20457939 69886386 4466112 5113528 0 0 5416026 5169408 127076 149166 1764984 8800960 8980045 18810174 19412147 1647765 50474239 260141198 272450946 11858645 11387390 248282553 261063556 X THE MISSION OF THE FLORIDA ATLANTIC UNIVERSITY FOUNDATION INC. IS TO ENCOURAGE, PROMOTE, AND PROVIDE FUNDS AND OTHER RESOURCES FOR THE BENEFIT OF FLORIDA ATLANTIC UNIVERSITY (A PART OF THE FLORIDA STATE UNIVERSITY SYSTEM) IN FURTHERANCE OF ITS MISIONS AND PURPOSES AND TO SECURE THE APPLICATION OF THESE FUNDS IN THE BEST MANNER ADAPTED TO THE CONDITIONS OF TIME AND TO THE NEEDS OF FAU. 0 0 5044192 5044192 PROVIDED OVER 1,420 STUDENTS WITH SCHOLARSHIPS FROM DONATED GIFTS. 3476955 PROVIDE SUPPORT FOR THE SALARIES OF THE UNIVERSITY'S EMINENT SCHOLARS, PROFESSORS, AND OTHER FACULTY AND STAFF. 7666011 69336 723919 PROVIDE GENERAL SUPPORT TO THE FLORIDA ATLANTIC UNIVERSITY IN THE FORM OF PAYMENTS SUCH AS BUT NOT LIMITED TO GUEST LECTURERS, OPERATIONAL AND CONFERENCE EXPENSES, TRAVEL, CONSULTING, AND EVENTS. 16187158 1 1 0 1 0 0 1 1 1 1 1 1 0 0 1 0 1 1 0 0 1 1 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 0 1 115 0 1 0 1 1 1 TU 0 0 1 0 1 0 0 0 X 35 35 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 FL X X SHARON BROWN 5612972891 777 GLADES ROAD BOCA RATON FL 33431 BRUCE ALLEN CHAIR 2.00 X X 0 0 0 PATRICIA MCKAY VICE CHAIR 2.00 X X 0 0 0 BRETT GREENBERG TREASURER 1.00 X X 0 0 0 CHRISTOPHER FLUEHR SERETARY 0.50 X X 0 0 0 DANIEL CANE BOARD MEMBER REPRESENTATIVE 0.50 X 0 0 0 ANDREW CLARK PHD BOARD MEMBER 0.50 X 0 0 0 STEPHEN CONSTANTINE BOARD MEMBER 0.50 X 0 0 0 HOWARD COOPER LIMITED PURPOSE BOARD MEMBER 1.00 X 0 0 0 MICHAEL CROWLEY LIMITED PURPOSE BOARD MEMBER 1.00 X 0 0 0 RICHARD ETNER LIMITED PURPOSE BOARD MEMBER 0.50 X 0 0 0 IRA GELB MD BOARD MEMBER 0.50 X 0 0 0 KATHLEEN GRACE BOARD MEMBER 1.00 X 0 0 0 DALE GREGORY BOARD MEMBER 0.50 X 0 0 0 MICHAEL KAUFMAN BOARD MEMBER 0.50 X 0 0 0 BONNIE KAYE BOARD MEMBER 0.50 X 0 0 0 GARY LESSER BOARD MEMBER 0.50 X 0 0 0 PETER LOBELLO BOARD MEMBER 0.50 X 0 0 0 LEWIS LONG BOARD MEMBER 0.50 X 0 0 0 STEWART MARTIN BOARD MEMBER 0.50 X 0 0 0 RAYMOND MONTELEONE BOARD MEMBER 0.50 X 0 0 0 STEVEN OYER LIMITED PURPOSE BOARD MEMBER 1.00 X 0 0 0 KEN PORPORA BOARD MEMBER 0.50 X 0 0 0 BRIAN POULIN BOARD MEMBER 0.50 X 0 0 0 MARTA RENDON BOARD MEMBER 0.50 X 0 0 0 ROBERT ROBES BOARD MEMBER 0.50 X 0 0 0 ROBERT ROLLINS BOARD MEMBER 0.50 X 0 0 0 EDWARD SABIN BOARD MEMBER 0.50 X 0 0 0 JAY SHEIN BOARD MEMBER 1.00 X 0 0 0 PHIL SMITH BOARD MEMBER 0.50 X 0 0 0 CHRIS WHEELER BOARD MEMBER 1.00 X 0 0 0 LORNA WILLIAMS BOARD MEMBER 0.50 X 0 0 0 J MICHAEL WOODY JR BOARD MEMBER 0.50 X 0 0 0 RICHARD YULES BOARD MEMBER 0.50 X 0 0 0 JOHN ZELLS BOARD MEMBER 0.50 X 0 0 0 JOANNE DAVIS INT. EX. DIR. FROM 6/2013 TO 10/2014 40.00 X 0 205643 22092 DENNIS CRUDELE INTERIM CEO FROM 10/2014 TO 1/2015 0.50 X 0 329214 46551 DAVID KIAN INTERIM CEO FROM 1/2015 - CURRENT 0.50 X 0 224703 34018 HOWARD SCHNELLENBERGER AMBASSADOR 40.00 X 0 172398 26307 KEITH FRIES ASSISTANT VP ADVANCEMENT 40.00 X 0 119511 24137 LAURIE CARNEY COORDINATOR, ADVANCEMENT/A 40.00 X 0 126189 24178 SHARON BROWN DIRECTOR OF FINANCE 40.00 X 0 117701 23623 ROBERT PEARLMAN CHIEF DEVELOPMENT AND STRATEGY OFFIC 40.00 X 0 333728 14939 JOHN W KELLY UNIVERSITY PRESIDENT FROM 3/2014 0.50 X 0 384619 23183 DAVID RUTHERFORD ASST. VP FOR PRINCIPAL GIFTS AND PLA 40.00 X 0 137635 25492 MARY JANE SAUNDERS UNIVERSITY PRESIDENT TO 8/15/2013 0.00 X 0 274957 0 0 2426298 264520 0 1 1 0 CHARTWELLS PO BOX 91337 CHICAGO IL 60693 CATERING SERVICES 545189 NLTG 7324 DELAINERY COURT SARASOTA FL 34240 MAILING SERVICES 154371 THE P5 GROUP 10750 HEIL ROAD FORT PIERCE FL 34945 LOBBYIST 133750 FUND EVALUATION GROUP 201 EAST 5TH STREET SUITE 1600 CINCINNATI OH 45202 INVESTMENT ADVISORY SERVICE 110000 4 30216 380257 1027922 27085 154129 25341050 467811 26960659 OTHER PROGRAM SERVICE 900099 205178 205178 SPONSORSHIP REVENUE 900099 186050 186050 COMMUNITY PROGRAMS 900099 184945 184945 ACADEMIC PROGRAMS 900099 148048 148048 724221 3121279 3121279 137186 137186 1060865 0 1060865 1060865 1060865 179880067 141826440 38053627 38053627 38053627 577015 1027922 806755 -229740 -229740 35841 1200 34641 34641 ADVERTISING REVENUE 900099 23950 23950 OTHER INCOME 900099 -302 -302 23648 69886386 723919 23950 42177858 X 5044192 5044192 42336 42336 27000 27000 755495 279613 121516 354366 3527038 2696034 274112 556892 205688 102987 24017 78684 464011 281267 65447 117297 217176 117065 30266 69845 189428 189428 32389 10600 21789 65973 6648 59325 133773 133773 149166 149166 222681 203930 18751 656330 629942 534 25854 217554 205998 3546 8010 1083658 782627 161143 139888 158756 65824 52306 40626 12939 12560 79 300 24268 20854 700 2714 732502 709134 5244 18124 100958 57707 9230 34021 207115 207115 2070074 2070074 4816 756 4060 59893 19819 36244 3830 WRITE OFF OF PLEDGE REC 906862 906862 EQUIPMENT 637340 636986 98 256 EVENTS HOSTED 549771 484425 47782 17564 MISCELLANEOUS 462605 116536 332493 13576 450360 314494 1895 133971 19412147 16187158 1460005 1764984 2721077 2197022 19585423 23760676 4266068 14791329 195753 4676639 202950 4478505 4473689 138311874 160212989 73921244 53348744 4258026 8145590 12598981 5325154 260141198 272450946 1654108 1435962 1684137 211189 78291 9993348 8189000 11858645 11387390 X 10406234 10480361 91678058 102816869 146198261 147766326 248282553 261063556 260141198 272450946 X 50474239 -37719264 26028 X 1 X 1 X 1 0 X 10041791 8745191 9804374 11093459 26960659 66645474 2247046 2512394 2356124 2389641 2618794 12123999 12288837 11257585 12160498 13483100 29579453 78769473 6808118 71961355 4205543 4274218 4407253 4427913 4319330 21634257 75666 78165 9258 35817 23648 222554 100626284 5823013 0.71510 0.70440 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 143850 143850 20076252 20220102 1000000 250000 0 0 968076 1000000 1000000 1000000 3968076 5952114 5580 70846 68644 143850 288920 242019 250000 250000 250000 992019 1488029 X 1 5.00 1 0 X X 0 1 211189 762364 895262 78291 1 X 208520765 1618231 2771820 1523222 3479041 3109433 204799120 189286602 1102358 25631572 1553093 2999101 2947573 208520765 172230860 4892046 19793034 4995882 36953 2596503 189286602 179738536 907937 99341 2058743 3958929 2497282 172230860 156417348 3261626 28172216 5673666 2438988 179738536 0.03000 0.72000 0.25000 1 0 4439639 4439639 237000 202950 34050 4473689 ALTERNATIVE INVESTMENTS (HEDGE FUNDS AND PRIVATE EQUITIES) 53348744 F 53348744 CERTIFICATES OF PARTICIPATION 8189000 8189000 X 35486171 -37719264 2707743 26032 -34985489 70471660 222681 -807955 -585274 69886386 22705164 2707743 807955 3515698 19189466 222681 222681 19412147 PART II, LINE 9: IN THE ORGANIZATION'S BALANCE SHEET AS LAND. PART III, LINE 4: THE FLORIDA ATLANTIC UNIVERSITY FOUNDATION'S COLLECTION OF ART IS SUBSTANTIALLY A COLLECTION OF OIL PAINTINGS DEPICTING THE FLORIDA LANDSCAPE, ESPECIALLY IN THE SOUTHERN REGION OF FLORIDA. THE FLORIDA ATLANTIC UNIVERSITY FOUNDATION ALSO HAS RUSSIAN PRINTS, BRONZE STATUES AND COLLECTIONS OF GLASS AND MODEL SHIPS. THEIR HISTORICAL TREASURES INCLUDE BOOKS AND ARTIFACTS FROM THE HOLOCAUST AND OTHER RARE BOOKS. ALL OF THE PIECES IN THE COLLECTION PROVIDE AN AESTHETIC VIRTUE TO THEIR WORK AND LEARNING ENVIRONMENT, WHILE ENCOURAGING AN INTEREST IN THE FINE ARTS AND ITS HISTORY. PART IV, LINE 2B: THE FOUNDATION COLLECTS REVENUE FOR ATHLETIC TICKETS, PARKING AND FOOD CONCESSIONS ON BEHALF OF THE UNIVERSITY ATHLETIC DEPARTMENT. PART X, LINE 2: MANAGEMENT AND THE BOARD HAVE EVALUATED UNRELATED BUSINESS INCOME TAX IMPLICATIONS AND BELIEVE THAT THE EFFECTS, IF ANY, ARE IMMATERIAL TO THE FOUNDATION'S FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: ACTUARIAL ADJUSTMENT 26,032. PART XI, LINE 4B - OTHER ADJUSTMENTS: EVENT EXPENSE -806,755. COST OF GOODS SOLD -1,200. PART XII, LINE 2D - OTHER ADJUSTMENTS: EVENT EXPENSES 806,755. COST OF GOODS SOLD 1,200. 0 EUROPE CONFERENCES AND RESEARCH. 39104 CANADA CONFERENCES AND RESEARCH. 6698 SOUTH AMERICA CONFERENCES AND RESEARCH. 3556 EAST ASIA AND THE PACIFIC CONFERENCES AND RESEARCH. 12911 CENTRAL AMERICA AND THE CARIBBEAN CONFERENCES AND RESEARCH. 15481 RUSSIA CONFERENCES AND RESEARCH. 1332 MIDDLE EAST CONFERENCES AND RESEARCH. 19402 MEXICO CONFERENCES AND RESEARCH. 2512 0 0 0 0 0 0 100996 0 100996 CANADA RESEARCH GRANT 27000 CASH 0 0 1 1 1 0 X X X 0 NLTG INC 7324 DELAINEY COURT SARASOTA FL 34240 DIRECT MAILING 0 190945 154371 36574 IBIDMOBILENET 377 5TH STREET BROOKLYN NY 11215 AUCTION 0 34653 10975 23678 225598 165346 60252 AL AR CT FL GA HI IL KS MS MO NM NC PA RI TN VA WV AK CA CO KY ME MD MA MI MN NH NJ NY ND OH OK OR SC UT WA WI IA MAKING WAVES 305483 271214 34269 74128 126898 214591 BUSINESS LEADER 241250 222220 19030 0 39967 62286 23 1058204 534488 523716 49500 14393 166761 54068 4163 1604937 1027922 577015 49500 88521 333626 54068 281040 806755 -229740 1 FLORIDA ATLANTIC UNIVERSITY 777 GLADES ROAD BOCA RATON FL 33431 650385507 5006742 STUDENT SCHOLARSHIPS UNIVERSITY OF CALIFORNIA SD 9500 GILMAN DR MC 0003 LA JOLLA LAS JOLLA CA 92093 956006144 27000 STUDENT SCHOLARSHIPS OUTWARD BOUND AWARDS 7 28380 MERIT AWARDS 26 12956 ATTENDANCE PRIZE 1 1000 PART I, LINE 2: THE FOUNDATION SENDS FUNDS TO THE UNIVERSITY FOR STUDENT SCHOLARSHIPS. THE UNIVERSITY DETERMINES THE SCHOLARSHIP RECIPIENTS ACCORDING TO DONOR SCHOLARSHIP CRITERIA. ALL QUALIFYING CRITERIA ARE LISTED ON THE AWARD SHEET AND SENT TO THE FOUNDATION. THE FUNDS ARE SENT TO THE UNIVERSITY AFTER THE OFFICE OF STUDENT FINANCIAL AID VERIFIES THE STUDENT'S STATUS. THE FOUNDATION HAS ACCESS TO STUDENT SCHOLARSHIP REPORTS AND WILL REQUEST REFUNDS FOR ANY SCHOLARSHIP NOT AWARDED DUE TO A CHANGE IN THE STUDENT'S STATUS. X X X X 1 1 X X X X 0 0 0 1 0 0 0 0 0 JOANNE DAVIS INT. EX. DIR. FROM 6/2013 TO 10/2014 0 205643 0 0 0 0 0 15047 0 7045 0 227735 0 0 DENNIS CRUDELE INTERIM CEO FROM 10/2014 TO 1/2015 0 329214 0 0 0 0 0 31558 0 14993 0 375765 0 0 DAVID KIAN INTERIM CEO FROM 1/2015 - CURRENT 0 224703 0 0 0 0 0 33569 0 449 0 258721 0 0 HOWARD SCHNELLENBERGER AMBASSADOR 0 172398 0 0 0 0 0 11314 0 14993 0 198705 0 0 LAURIE CARNEY COORDINATOR, ADVANCEMENT/A 0 126189 0 0 0 0 0 9185 0 14993 0 150367 0 0 ROBERT PEARLMAN CHIEF DEVELOPMENT AND STRATEGY OFFIC 0 333728 0 0 0 0 0 0 0 14939 0 348667 0 0 JOHN W KELLY UNIVERSITY PRESIDENT FROM 3/2014 0 384619 0 0 0 0 0 8785 0 14398 0 407802 0 0 DAVID RUTHERFORD ASST. VP FOR PRINCIPAL GIFTS AND PLA 0 137635 0 0 0 0 0 10499 0 14993 0 163127 0 0 MARY JANE SAUNDERS UNIVERSITY PRESIDENT TO 8/15/2013 0 274957 0 0 0 0 0 0 0 0 0 274957 0 0 PART I, LINE 1A THESE ITEMS ARE ALLOWED FOR THE UNIVERSITY PRESIDENT ONLY FOR BONA FIDE BUSINESS PURPOSES ONLY. X 3 35181 APPRAISAL X 5749 FAIR MARKET VALUE X 19 157164 AVERAGE HIGH LOW VALUE X 1 2828 APPRAISAL X ITEMS FOR AUCTION 264 124071 FAIR MARKET VALUE X SOFTWARE LICENSES 12 96407 FAIR MARKET VALUE X EQUIPMENT 4 36758 FAIR MARKET VALUE X INVOICE DISCOUNT 1 9653 FAIR MARKET VALUE 2 0 1 1 PART I, LINE 32B: THE FOUNDATION USES THE SERVICES OF A SEPARATE COMPANY TO HELP RUN OUR AUCTION, ADVERTISE ON A WEB-SITE AND PROCESS PAYMENTS FORM 990, PART VI, SECTION B, LINE 11 THE FLORIDA ATLANTIC UNIVERSITY FOUNDATION BOARD HAS DELEGATED THE RESPONSIBILITY TO REVIEW AND APPROVE THE FORM 990 TO THE FOUNDATION'S AUDIT COMMITTEE. THE DRAFT FORM 990 WILL BE REVIEWED BY THE COMMITTEE AS WELL AS THE DIRECTOR OF FINANCE, ASSISTANT DIRECTOR OF FINANCE AND THE EXECUTIVE DIRECTOR. THE FORM 990 WILL ALSO BE AVAILABLE FOR REVIEW TO ALL BOARD MEMBERS AND EACH BOARD MEMBER WILL BE ENCOURAGED TO GIVE THEIR INPUT DURING THE REVIEW PROCESS. AFTER THE REVIEW AND AFTER ALL QUESTIONS ARE SATISFACTORILY ANSWERED THE COMMITTEE WILL APPROVE THE SUBMISSION OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY COVERS ALL BOARD MEMBERS AND KEY PERSONNEL. THE BOARD AND KEY STAFF REVIEW THE POLICY AND REPORT CONFLICTS ANNUALLY. THE AUDIT COMMITTEE IS AWARE OF ALL REPORTED CONFLICTS. CONFLICTS ARE DETERMINED BY THE BOARD AND STAFF MEMBERS, AND CONFLICTS ARE DISCLOSED AT EACH COMMITTEE WHERE THE PROPOSED ACTION AND THE CONFLICT EXISTS. IF A BOARD MEMBER IS FOUND TO HAVE A CONFLICT THEY ARE ASKED TO DISCLOSE THE CONFLICT, RECUSE THEMSELVES FROM VOTE AND WHEN NECESSARY, LEAVE THE ROOM DURING THE VOTE. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S CHIEF EXECUTIVE OFFICER FOR THE FOUNDATION ALSO HOLDS THE TITLE OF VP FOR INSTITUIONAL ADVANCEMENT FOR THE UNIVERSITY. ALTHOUGH THE FOUNDATION MEMBERS SIT ON THE COMMITTEE TO HIRE THIS PERSON, HE/SHE IS PAID BY THE UNIVERSITY. THEREFORE, A UNIVERSITY REPRESENTATIVE (USUALLY THE VP FOR FINANCE) WHO DETERMINES THE FAIR COMPENSATION BY POLLING PEER INSTITUTIONS IN THE STATE ON THE MARKET RATE FOR THIS POSITION. THIS MEASURE OBTAINS THE SAME RESULT AS COMPARING THESE INSTITUTION'S FORM 990. FORM 990, PART VI, SECTION C, LINE 19 THE FLORIDA ATLANTIC UNIVERSITY FOUNDATION MAKES THE FINIANCIAL STATEMENTS AVAILABLE ON THEIR WEBSITE. THEY WILL PROVIDE A COPY OF THE FINANCIAL STATEMENTS AND/OR FORM 990 TO ANY PERSON REQUESTING A COPY. THE REQUEST CAN COME IN WRITING OR THROUGH A VERBAL INQUIRY. BOTH ARE AVAILABLE FOR INSPECTION AT THE OFFICE LOCATED AT 777 GLADES ROAD, ADMIN 295, BOCA RATON, FL. FORM 990, PART IV, LINES 5, 7, 8, 9, & 10. THE FAU FOUNDATION REIMBURSES EXPENSES TO THE UNIVERSITY FOR SALARIES AND BENEFITS PAID AND REPORTED UNDER THE UNIVERSITY'S FEDERAL EMPLOYER IDENTIFICATION NUMBER (EIN). FORM 990, PART XI, LINE 9: ACTUARIAL ADJUSTMENT ON CGAS 26,028. FLORIDA ATLANTIC UNIVERSITY 777 GLADES ROAD BOCA RATON FL 33431 650385507 PUBLIC UNIVERSITY FL 0 FLORIDA ATLANTIC UNIVERSITY ALUMNI ASSOCIATION INC 777 GLADES ROAD BOCA RATON FL 33431 237015697 ALUMNI ASSOCIATION FL 0 0 1 0 1 0 0 0 0 0 1 1 1 0 1 1 1 0 1 1 FLORIDA ATLANTIC UNIVERSITY B 5055972 CORP BOOKS IN ACCORDANCE W/GAAS FLORIDA ATLANTIC UNIVERSITY D 8189000 CORP BOOKS IN ACCORDANCE W/GAAS FLORIDA ATLANTIC UNIVERSITY J 1550 CORP BOOKS IN ACCORDANCE W/GAAS FLORIDA ATLANTIC UNIVERSITY K 20517 CORP BOOKS IN ACCORDANCE W/GAAS FLORIDA ATLANTIC UNIVERSITY L 0 CORP BOOKS IN ACCORDANCE W/GAAS FLORIDA ATLANTIC UNIVERSITY N 0 CORP BOOKS IN ACCORDANCE W/GAAS FAU ALUMNI ASSOCIATION INC D 85000 CORP BOOKS IN ACCORDANCE W/GAAS FLORIDA ATLANTIC UNIVERSITY O 1634094 CORP BOOKS IN ACCORDANCE W/GAAS FLORIDA ATLANTIC UNIVERSITY P 225834 CORP BOOKS IN ACCORDANCE W/GAAS HARBOR BRANCH OCEANOGRAPHIC INSTITUTE FOUNDATION S 636900 CORP BOOKS IN ACCORDANCE W/GAAS FLORIDA ATLANTIC UNIVERSITY R 6705422 CORP BOOKS IN ACCORDANCE W/GAAS