2015-04-30T08:05:10-05:00 2014-06-30 381357951 PLANTE & MORAN PLLC PO BOX 307 SOUTHFIELD MI 480370307 990 2013-07-01 300023422 THE UNIVERSITY OF TOLEDO FOUNDATION REAL ESTATE CORP UTFO 4195307730 2801 W BANCROFT MS 319 TOLEDO OH 43606 BRENDA LEE PRESIDENT 4195307730 2015-04-21 1 LYNNE HUISMANN P00053811 2483522500 2013 2016-02-25 16:41:14Z BRENDA LEE 2801 W BANCROFT MS 319 TOLEDO OH 43606 232606 0 X WWW.UTFOUNDATION.ORG X 2001 OH THE UNIVERSITY OF TOLEDO FOUNDATION REAL ESTATE CORP ACQUIRES AND HOLDS TITLE TO REAL PROPERTY FOR THE BENEFIT OF THE UNIVERSITY OF TOLEDO. 9 9 0 12 0 0 117429 0 0 0 -89721 -42424 -123025 -144067 -95317 -186491 0 0 0 0 0 0 0 0 0 0 0 0 0 -95317 -186491 4944502 4858228 7476665 7576882 -2532163 -2718654 THE UNIVERSITY OF TOLEDO FOUNDATION REAL ESTATE CORPORATION ACQUIRES, HOLDS TITLE TO, AND COLLECTS INCOME FOR REAL PROPERTY FOR THE BENEFIT OF THE UNIVERSITY OF TOLEDO. 0 0 THE UNIVERSITY OF TOLEDO FOUNDATION REAL ESTATE CORP. ACQUIRES AND HOLDS TITLE TO REAL PROPERTY FOR THE BENEFIT OF THE UNIVERSITY OF TOLEDO. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 4 0 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 X BRENDA S LEE PRESIDENT 4195307730 2801 W BANCROFT MS 319 TOLEDO OH 43606 KEVIN LENT TRUSTEE 1.00 0.00 X 0 0 0 GREGORY KOPAN TRUSTEE 1.00 1.00 X 0 0 0 STEVEN LENNEX TRUSTEE 1.00 1.00 X 0 0 0 MILTON KNIGHT TRUSTEE 1.00 0.00 X 0 0 0 STEVEN REINBOLT CHAIR 1.00 1.00 X X 0 0 0 CHARLES SULLIVAN TRUSTEE 1.00 0.00 X 0 0 0 STEVEN SPERANZA TRUSTEE 1.00 0.00 X 0 0 0 PAUL L TOTH JR TRUSTEE 1.00 1.00 X 0 0 0 JUSTIN SKIVER TRUSTEE 1.00 1.00 X 0 0 0 BRENDA LEE PRESIDENT 5.00 35.00 X 0 192567 25283 MATTHEW SCHROEDER VICE PRESIDENT 15.00 25.00 X 0 136256 24332 BRYAN C DADEY VP-FINANCE 5.00 35.00 X 0 115328 22738 0 444151 72353 0 0 1 0 0 467 467 58100 206525 -148425 -148425 -148425 169681 212572 -42891 -42891 -42891 VARIOUS RENTAL INCOME 900099 4358 4358 4358 -186491 0 0 -186491 0 37165 171532 26440 0 0 2000 4929932 245236 4880897 4684696 4944502 4858228 3143 51216 6955 5333 1238268 0 6228299 7520333 7476665 7576882 X -2532163 -2718654 -2532163 -2718654 4944502 4858228 -186491 0 X X 0 1 X 1 0 4531709 4531709 398223 245236 152987 4684696 RELATED PARTY PAYABLE 7520333 7520333 X PART X, LINE 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION AND HAS CONCLUDED THAT AS OF JUNE 30, 2014 AND 2013, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE FOUNDATION AND CORPORATION ARE SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO JUNE 30, 2011. 0 0 0 BRENDA LEE PRESIDENT 0 192567 0 0 0 0 0 13480 0 11803 0 217850 0 0 MATTHEW SCHROEDER VICE PRESIDENT 0 136256 0 0 0 0 0 9538 0 14794 0 160588 0 0 PART I, LINE 3 THE ORGANIZATION RELIED ON A RELATED ORGANIZATION THAT USED THE FOLLOWING METHODS TO ESTABLISH THE COMPENSATION OF THE ORGANIZATION'S PRESIDENT: - COMPENSATION COMMITTEE - INDEPENDENT COMPENSATION CONSULTANT - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE FORM 990, PART VI, SECTION A, LINE 6 THE UNIVERSITY OF TOLEDO FOUNDATION IS THE SOLE MEMBER OF THE UNIVERSITY OF TOLEDO FOUNDATION REAL ESTATE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A THE UNIVERSITY OF TOLEDO FOUNDATION APPROVES THE ELECTION OF ALL BOARD MEMBERS OF THE UNIVERSITY OF TOLEDO FOUNDATION REAL ESTATE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7B THE UNIVERSITY OF TOLEDO FOUNDATION BOARD OF DIRECTORS APPROVES ALL ACTIONS OF THE UNIVERSITY OF TOLEDO FOUNDATION REAL ESTATE CORPORATION BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11 MANAGEMENT PRESENTS THE BOARD OF TRUSTEES - FINANCE COMMITTEE WITH THE FINAL FORM 990 ALONG WITH A LIST OF MANAGEMENT ASSERTIONS REGARDING THE COMPLETENESS AND ACCURACY OF THE FORM AND THE EXISTENCE OF THE POLICIES AND PROCEDURES DOCUMENTED IN FORM 990. THE FINANCE COMMITTEE IS CHARGED TO PROVIDE THE REVIEW AND APPROVAL FUNCTION OF FORM 990 FOR THE BOARD OF TRUSTEES. THE FINANCE COMMITTEE UPON APPROVAL OF THE FINAL FORM 990 PRESENTS ITS FINDINGS TO THE EXECUTIVE COMMITTEE AND BOARD OF TRUSTEES OF THE UNIVERSITY OF TOLEDO FOUNDATION REAL ESTATE CORP. A FINAL COPY OF FORM 990 IS PROVIDED TO EACH MEMBER OF THE BOARD OF TRUSTEES BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, THE MEMBERS OF THE BOARD OF TRUSTEES FOR THE UNIVERSITY OF TOLEDO FOUNDATION REAL ESTATE CORP. ARE REQUIRED TO COMPLETE TRUSTEE DISCLOSURE STATEMENTS WHICH AFFIRMS EACH MEMBER RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY, AND AGREES TO COMPLY WITH THE POLICY. TRUSTEES ARE REQUIRED TO DISCLOSE ANY FAMILY AND BUSINESS RELATIONSHIPS, FINANCIAL INTEREST, AND THE STATUS OF THEIR INDEPENDENCE. TRUSTEES ARE ALSO REQUESTED BY THE BOARD OR COMMITTEE CHAIR TO DISCLOSE ANY ACTUAL OR POSSIBLE CONFLICTS BEFORE VOTING ON MATTERS RELATED TO AWARDING BUSINESS WITH THE FOUNDATION. ALL DISCLOSURE STATEMENTS ARE REVIEWED BY THE COMMITTEE OF TRUSTEES AND MAINTAINED BY THE PRESIDENT OF THE FOUNDATION TO DETERMINE EXISTENCE OF A CONFLICT. ANY DISCLOSED OR IDENTIFIED ACTUAL OR POSSIBLE CONFLICTS ARE DISCUSSED WITH THE CHAIR OF THE BOARD OF TRUSTEES AND MAY BE PRESENTED TO THE EXECUTIVE COMMITTEE FOR DISCUSSION AND RESOLUTION. ANY FINANCIAL INTERESTS DISCLOSED PRIOR TO ACTION BEING TAKEN AT A MEETING SHALL BE DISCUSSED WITH THE INTERESTED PERSON. THE REMAINING TRUSTEES OR COMMITTEE MEMBERS SHALL DETERMINE IF A CONFLICT EXISTS BY VOTE, AND THE RESULTS WILL BE RECORDED IN THE MINUTES. THE CHAIR OR COMMITTEE MAY APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE ARRANGEMENT IN QUESTION. THE BOARD OR COMMITTEE WILL EXERCISE DUE DILIGENCE AND DETERMINE IF MORE ADVANTAGEOUS ARRANGEMENTS CAN BE REASONABLY MADE THAT WOULD NOT BE A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS OPTION IS NOT REASONABLY ATTAINABLE, THE BOARD OR COMMITTEE WILL DETERMINE BY MAJORITY VOTE IF THE ARRANGEMENT IN QUESTION IS IN THE BEST INTEREST OF THE FOUNDATION AND IF IT IS FAIR AND REASONABLE. MEMBERS THAT FAIL TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST WILL BE AFFORDED THE OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. THE BOARD OR COMMITTEE MAY CONDUCT FURTHER INVESTIGATION IF WARRANTED. THE BOARD OR COMMITTEE WILL THEN DETERMINE WHETHER A FAILURE TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST RESULTS IN DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE AUDIT PROCESS HAS NOT CHANGED WITHIN THE CURRENT YEAR. THE UNIVERSITY OF TOLEDO FOUNDATION 2801 W BANCROFT MS 319 TOLEDO OH 43606 346555110 TO SUPPORT THE UNIVERSITY OF TOLEDO AND THE STUDENTS OF THE UNIVERSITY OH IRC SEC. 501(C)(3) 5 THE UNIVERSITY OF TOLEDO 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 1 0 0 0 0