2015-04-01T11:06:58-05:00 2014-06-30 010523282 Berry Dunn McNeil & Parker LLC PO Box 1100 Portland ME 041041100 990 2013-07-01 016011501 University of Maine Foundation UNIV 2075815100 Two Alumni Place Orono ME 044695792 JEFFERY MILLS President/CEO 2075815100 2015-03-23 1 Barbara J McGuan CPA P00219457 2077752387 2015-03-23 2013 2016-02-25 16:41:14Z Jeffery Mills Two Alumni Place Orono ME 044695792 83426072 0 X www.umainefoundation.org X 1934 ME Fundraising and endowment management for the benefit of the University of Maine 7 7 13 50 -31984 -31984 7816126 13636516 0 0 10446605 14506381 281411 131608 18544142 28274505 5481167 10242297 0 0 1221222 1300957 0 0 1081474 1717646 1725427 8420035 13268681 10124107 15005824 193458626 219611248 6324752 6537630 187133874 213073618 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 10289241 9959519 Gifts and endowment income distributed for scholarships and general support for the benefit of the University of Maine 376316 Distributions to trust, gift annuity and pooled income fund participants 302778 282778 Distributions of gifts and endowment income to other qualified charities 10968335 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 1 0 0 0 1 1 1 0 0 1 X 116 0 1 13 1 0 1 CJ EI IO OC 0 0 0 1 1 0 0 0 0 1 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 David M Austin Chair 1.00 X X 0 0 0 Stephen Coutts Director 1.00 X 0 0 0 Jon Dawson Director 1.00 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 Vice Chair 1.00 X X 0 0 0 Donna T Mundy Director 1.00 X 0 0 0 Darryl N Brown Secretary 1.00 X 0 0 0 John I Simpson Treasurer 1.00 X 0 0 0 Jeffery N Mills President & CEO 40.00 X 244382 0 45204 Kevin J Frazier CFO 40.00 X 120979 0 35499 Sarah McPartland-Good Director of Planned Giving 40.00 X 125551 0 34480 490912 0 115183 3 0 1 0 Cambridge Associates LLC 125 High Street Boston MA 021102112 Investment Consultant 337762 1 13636516 2494020 13636516 2256909 -31984 2288893 67165386 235653 54913046 238521 12252340 -2868 12249472 12249472 Other Revenue 900099 131608 131608 131608 28274505 0 -31984 14669973 10242297 10242297 446064 84297 108557 253210 607249 114757 147784 344708 55413 10472 13486 31455 128097 24208 31174 72715 64134 12120 15608 36406 4206 4206 21831 21831 714852 714852 13112 2478 3191 7443 75049 14183 18265 42601 64956 12275 15808 36873 149614 21733 62599 65282 33613 6352 8180 19081 16852 3185 4101 9566 792 792 39558 7476 9627 22455 21277 4021 5178 12078 Life Income Participant 376316 376316 Fundraising Expenses 93438 93438 Miscellaneous 72289 26144 27691 18454 Property Management 27672 5229 6734 15709 13268681 10968335 1218872 1081474 84440 68723 77323715 10060548 514359 1078986 192345 108246 785640 747657 6035986 153671 5846512 5882315 63994699 140493234 29592233 45897229 15124683 15274310 193458626 219611248 557832 570397 3005745 3314658 910161 760562 1851014 1892013 6324752 6537630 X 6703912 8136163 46032838 62652215 134397124 142285240 187133874 213073618 193458626 219611248 X 15005824 10944196 -10276 X 0 1 X 1 0 X 5387222 6649135 12359605 7816126 13636516 45848604 5387222 6649135 12359605 7816126 13636516 45848604 45848604 2117437 2282501 3215623 3804662 2256909 13677132 354990 417739 755734 281411 131608 1941482 61467218 0.74590 0.71850 X Schedule A, Part II, Line 10, Explanation of Other Income: Other Gains and Losses - 2009 Amount: $ 354,990. 2010 Amount: $ 417,739. 2011 Amount: $ 755,734. 2012 Amount: $ 281,411. 2013 Amount: $ 131,608. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 1 45000 0 0 0 45000 0 7 167270 204200 297450 1 1 1 354287 X See Part XIII 1 0 1 X 162834662 13167468 23576583 7813467 2614611 189150635 148298359 7580278 13645945 4914876 1775044 162834662 149059863 13992790 -5645354 6838664 2270276 148298359 123235557 6670997 25061552 4013984 1894259 149059863 117506698 5173234 4840322 2573576 17259 1693862 123235557 0.03800 0.73200 0.23000 0 0 5791657 5791657 244329 153671 90658 5882315 45897229 F 45897229 Private Stock 21079 Maine Unemployment Depository 6729 Irrevocable Trusts 11334593 Cash Surrender Value Life Insurance 70975 Buchanan Alumni House Holdings 3074562 Artwork & Collections 354287 Other Assets 412085 15274310 Distributions Due to Life Income Beneficiaries 1892013 1892013 38493573 10944196 10944196 27549377 714852 10276 725128 28274505 12553829 0 12553829 714852 714852 13268681 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 10,276. Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, Investments 33104949 Europe (Including Iceland & Greenland) Investments 4165461 0 0 0 0 0 0 37270410 0 37270410 0 0 0 0 0 0 1 University of Maine University of Maine System Orono ME 04469 016000769 501(c)(3) 9858309 General Maine 4-H Foundation 5741 Libby Hall Orono ME 04469 016011487 501(c)(3) 56342 General Town of Searsmont PO Box 56 Searsmont ME 04973 010390148 Government 12026 General United Methodist Church PO Box 33 Searsmont ME 04973 016013581 501(c)(3) 24053 General Waldo County YMCA 157 Linconville Avenue Belfast ME 04915 010493123 501(c)(3) 6625 General Carrabassett Valley Academy 3197 Carrabassett Drive Carrabassett Valley ME 04947 010384633 501(c)(3) 6000 General Kennebec Valley YMCA 31 Union Street Augusta ME 04330 010211811 501(c)(3) 100000 General Friends of Lithgow Library 16 Cony Street Augusta ME 04330 412038965 501(c)(3) 10000 General Maine Economic Growth Coalition PO Box 550 Orono ME 04473 010684216 527 45000 General Ahavas Achim Society of Brotherly Love 23 Water Street Bangor ME 044016364 016010406 501(c)(3) 15000 General Coastal Maine Botanical Gardens PO Box 234 Boothbay ME 04537 010476545 501(c)(3) 8500 General Green Street United Methodist Church 13 Green Street Augusta ME 04330 016000570 501(c)(3) 13700 General 11 1 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 217483 0 25200 0 1699 0 23835 0 21369 0 289586 0 0 0 Kevin J Frazier CFO 111150 0 9658 0 171 0 12130 0 23369 0 156478 0 0 0 Sarah McPartland-Good Director of Planned Giving 113098 0 8311 0 4142 0 12411 0 22069 0 160031 0 0 0 Part I, Line 7 Jeffrey 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 31241 FMV X 1 16000 Expert opinion X 68 2187779 FMV X 1 259000 Expert opinion 1 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 11 A draft copy of the completed form 990 is provided to the board of directors no less than two weeks before filing. 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 revenues and expenditures and makes reccomendations 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 XI, line 9: Decrease in Cash Surrender Value of Life Insurance -10,276. Pooled Income Funds (2) Two Alumni Place Orono ME 04469 Split Interest Trust ME T 1186732 0 Charitable Lead Trusts (7) Two Alumni Place Orono ME 04469 Split Interest Trust ME T 1976023 0 Charitable Remainder Trusts (32) Two Alumni Place Orono ME 04469 Split Interest Trust ME T 8004978 0 Charitable Perpetual Trusts (6) Two Alumni Place Orono ME 04469 Split Interest Trust ME T 1353592 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 Pooled Income Funds (2) S 199840 Market Value Charitable Lead Trusts (7) S 144101 Annuity/Trust Payments Charitable Remainder Trusts (32) S 1635962 Remainder Interest