2014-05-08T10:42:54-05:00 2013-06-30 861065772 Deloitte Tax LLP 111 Monument Circle Suite 2000 Indianapolis IN 462045108 990 2012-07-01 356018940 Indiana University Foundation INDI 8128558311 PO Box 500 Bloomington IN 47402 Daniel Smith 8128558311 2014-05-08 1 Shawna M Jimenez P01222873 3174648600 2012 2015-11-30 17:44:51Z Daniel Smith PO Box 500 Bloomington IN 47402 5778302055 0 X www.iufoundation.iu.edu X 1936 IN To maximize philanthropic support for Indiana University 26 24 643 1660 2722451 0 123927952 128889858 22093963 22659535 120831391 100626742 7868865 10363404 274722171 262539539 107057090 105725896 0 0 17201844 19060610 0 0 19245952 27405846 30583685 151664780 155370191 123057391 107169348 2105534426 2277565500 375453761 374279627 1730080665 1903285873 The Indiana University Foundation maximizes private support for Indiana University by fostering lifelong relationships with key stakeholders and providing advancement leadership and fundraising services for campuses and units across the university. 0 0 105725896 105725896 13403530 In accordance with the stated donor intent, IUF provides grants, scholarships, awards, Endowed Chairs & Professorships, fellowships, etc to members of the IU community. 18232431 15265680 IUF is responsible for the investment and management of funds raised for the benefit of IU. 123958327 1 1 0 0 0 0 1 0 0 1 1 1 0 0 1 1 1 0 0 0 1 1 0 0 1 0 0 1 1 1 0 0 0 0 0 0 1 0 1 0 0 0 0 1 1 1 0 0 1 427 0 1 643 1 1 1 0 0 0 0 1 1 1 8 0 0 1 0 X 26 24 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA IN AK AZ CO DC KY MA MD ME MI MN NH NJ NY OH OR SC UT WA WV WI X Catherine L Melvin CPA 8128558311 PO Box 500 Bloomington IN 47402 Eugene R Tempelthru 093012 40.00 0.00 X X 489397 0 49791 Daniel C SmithFrom 11012012 40.00 0.00 X X 63647 0 10404 Kathryn E Booth 0.00 0.00 X 0 0 0 William P Carmichael 0.00 0.00 X 0 0 0 Alecia A DeCoudreaux 0.00 0.00 X 0 0 0 Clarence H Doninger 0.00 0.00 X 0 0 0 David G Elmore 0.00 0.00 X 0 0 0 Jean A Ford 0.00 0.00 X 0 0 0 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Wells 0.00 0.00 X 0 0 0 Desmond C Wong 0.00 0.00 X 0 0 0 Richard E Woosnam 0.00 0.00 X X 0 0 0 S Sue Aramian 0.00 0.00 X 0 0 0 Glenn L Banks 0.00 0.00 X 0 0 0 Richards D Barger 0.00 0.00 X 0 0 0 Clarence W Boone Sr 0.00 0.00 X 0 0 0 Bill C Brown 0.00 0.00 X 0 0 0 Gayle K Cook 0.00 0.00 X 0 0 0 James W Cozad 0.00 0.00 X 0 0 0 Donald C Danielson 0.00 0.00 X 0 0 0 Don B Earnhart thru 100212 0.00 0.00 X 0 0 0 Ellen C Gignilliat 0.00 0.00 X 0 0 0 Alan B Gilman 0.00 0.00 X 0 0 0 Lawrence D Glaubinger 0.00 0.00 X 0 0 0 John F Kimberling thru 012713 0.00 0.00 X 0 0 0 PA Mack Jr 0.00 0.00 X 0 0 0 Robert H McKinney 0.00 0.00 X 0 0 0 Joseph T Morrow 0.00 0.00 X 0 0 0 John D Peterson Jr 0.00 0.00 X 0 0 0 Ernestine M Raclin 0.00 0.00 X 0 0 0 J Fred Risk 0.00 0.00 X 0 0 0 James R Hodge 0.00 0.00 X 0 0 0 Robert A Borns 0.00 0.00 X 0 0 0 Thomas Ehrlich 0.00 0.00 X 0 0 0 Fredrick F EichhornJrthru 10312 0.00 0.00 X 0 0 0 Harry L Gonso 0.00 0.00 X X 0 0 0 Charles E Lanham 0.00 0.00 X 0 0 0 Thomas M Lofton 0.00 0.00 X 0 0 0 Phyllis E McCullough 0.00 0.00 X 0 0 0 James T Morris 0.00 0.00 X 0 0 0 Georgette Mosbacher 0.00 0.00 X 0 0 0 Frank P Popoff 0.00 0.00 X 0 0 0 Jill S Ruckelshaus 0.00 0.00 X 0 0 0 Marianne W Tobias 0.00 0.00 X 0 0 0 John D Walda 0.00 0.00 X 0 0 0 John Shoemaker 0.00 0.00 X 0 0 0 Sandra E Laney 0.00 0.00 X 0 0 0 Gary J Anderson 0.00 0.00 X 0 0 0 Lacy M Johnson 0.00 0.00 X 0 0 0 Michael McRobbie 0.00 0.00 X X 0 0 0 Michael D Shumate 0.00 0.00 X 0 0 0 Stephen R Springer 0.00 0.00 X 0 0 0 Randall L Tobias 0.00 0.00 X 0 0 0 Curt Simic 0.00 0.00 X 0 0 0 William Cast 0.00 0.00 X 0 0 0 Thomas E Reilly Jr 0.00 0.00 X 0 0 0 William Buckner 0.00 0.00 X 0 0 0 Jeffrey Fettig 0.00 0.00 X 0 0 0 Alan Graf Jr 0.00 0.00 X 0 0 0 Kathleen Ligocki 0.00 0.00 X 0 0 0 Rose Mays 0.00 0.00 X 0 0 0 Glen Scolnik 0.00 0.00 X 0 0 0 Randolph Seger 0.00 0.00 X 0 0 0 Margaret Watanabe 0.00 0.00 X 0 0 0 Robert Zerbe 0.00 0.00 X 0 0 0 Jane M Jorgensen 0.00 0.00 X 0 0 0 Gina M Reel 40.00 0.00 X 141479 0 26487 Philippa Guthrie 40.00 0.00 X 193317 0 30583 Karen Pieper 40.00 0.00 X 79656 0 24666 Gary Stratten 40.00 0.00 X 358493 0 61624 Steven A Martin 0.00 0.00 X 0 0 0 Marti Heil 40.00 0.00 X 285285 0 42657 Paula Jenkins 40.00 0.00 X 169710 0 29420 Dorothy Metaj 40.00 0.00 X 222439 0 38517 Chris Ritrievi 40.00 0.00 X 206728 0 44162 Jeffrey D Stumpf 40.00 0.00 X 140181 0 32184 Eileen Savage 40.00 0.00 X 156837 0 32689 John Keith 40.00 0.00 X 152752 0 28904 Jeff Lindauer 40.00 0.00 X 159998 0 25891 Laurie Burns McRobbie 40.00 0.00 X 151450 0 24001 D Abe Weldy 40.00 0.00 X 230652 0 45660 James Bergstrom 40.00 0.00 X 160864 0 44322 Mary Bonk 40.00 0.00 X 143581 0 30639 Sheila Decker 40.00 0.00 X 137027 0 40494 Sandra Bate 40.00 0.00 X 152348 0 27019 Alice Luchini 40.00 0.00 X 136040 0 33144 Jeff Lambright 40.00 0.00 X 134071 0 39924 James P Perin 40.00 0.00 X 150179 0 24271 4216131 0 787453 27 1 1 0 Cambridge Associates PO Box 83232 Chicago IL 60691 Investment Consultant 2002936 Alliance Bernstein LP PO Box 7247-7497 Philadelphia PA 19170 Investment Manager 621326 Champlain Investment Partners 346 Shelburne Road 6th Floor Burlington VT 05401 Investment Manager 480190 Cramer Rosenthal McGlynn LLC PO Box 6210 Church Street Statio New York NY 102612700 Investment Manager 475940 Snyder Capital Management One Market Plaza Steuart Tower Su San Francisco CA 94105 Investment Manager 458908 11 9264 128880594 8025619 128889858 Management Fees 900099 15265680 15265680 Dev Service Fee 900099 4923219 4923219 Other Income 900099 1469732 1338921 130811 Telefund Service Fee 900099 1000904 1000904 22659535 9763238 9763238 1610537 1610537 4169804 2399346 1770458 1770458 1770458 5603738146 5512874642 90863504 90863504 90863504 509269 9264 488528 20741 20741 Other Income 900099 4239217 4239217 Income/Loss from K-1's 525990 2722451 2722451 6961668 262539539 28538399 2722451 102388831 105654544 105654544 51352 51352 20000 20000 3954847 1531724 2423123 174450 67566 106884 9426932 3651080 5775852 1433221 555091 878130 3085914 1195184 1890730 985246 381589 603657 11627 4503 7124 78930 30570 48360 235741 91303 144438 18232431 18232431 707408 273981 433427 60823 23557 37266 1842064 713437 1128627 464554 179923 284631 1056619 409232 647387 1759656 681520 1078136 342608 132693 209915 340222 131769 208453 282710 109494 173216 376392 145778 230614 Other Expenses 4791900 1855918 2935982 155370191 123958327 12165912 19245952 258009174 154210470 152822848 142367662 80824611 52681241 695381 690256 94683498 21330296 74882974 73353202 778969099 980146616 759330339 874116053 2105534426 2277565500 72449172 39566329 3980657 3843966 299023932 330869332 375453761 374279627 X 37357478 40749763 699881789 762899025 992841398 1099637085 1730080665 1903285873 2105534426 2277565500 X 107169348 64799957 1235903 X 0 1 X 1 0 X 121323055 216728663 103770772 123927952 128889858 694640300 121323055 216728663 103770772 123927952 128889858 694640300 75779287 618861013 15752521 29218714 14771479 16868398 15543579 92154691 2285096 5178962 6033947 3573688 4239217 21310910 808105901 110635112 0.76580 0.66880 X Schedule A, Part IV, Supplemental Information: Schedule A, Part II, Line 10, Explanation for Other Income: 2008 Misc Income $2,285,096 2009 Misc Income $5,178,962 2010 Misc Income $6,033,947 2011 Misc Income $3,573,688 2012 Misc Income $4,239,217 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 0.00 1 1 0 1 0 10.00 0 1 1417184598 92831098 142945921 -70155966 1582805651 1440185795 79964190 -29939636 -73025751 1417184598 1196764277 78230329 231623300 -66432111 1440185795 1115937927 107663394 47307981 -74145025 1196764277 1422762970 59647302 -299258770 -67213575 1115937927 0.01600 0.62900 0.35500 0 0 20129763 18966978 39096741 48523354 16549853 31973501 3986390 2524747 1461643 3077013 2255696 821317 73353202 Institutional Funds, Cash and Equiv & Commercial Paper 21825277 F Private Equity 852290776 F 874116053 Accumulated Trust Liability 36186475 Collateral Under Securities Lending Agreement 66934611 Due to Indiana University 205620826 Assets Held for University Affiliates 22127420 330869332 X 309272488 64799957 2887874 67687831 241584657 20954882 20954882 262539539 136067280 2887874 2887874 133179406 22190785 22190785 155370191 Description of How Organization Reports Conservation Easements: Part II, Line 9: IUF reports its conservation easement on the income statement consistent with treatment for ordinary revenues and expenses on the financial statements. The building with the historical easement is being reported on the balance sheet at cost and is being depreciated over the life of the building. Description of Intended Use of Endowment Funds: Part V, Line 4: The intended uses of the organization's endowment funds are to support Indiana University as it carries out its missions of teaching, research and public service. Description of Uncertain Tax Positions Under FIN 48: Part X, Line 2: Financial Accounting Standards Board (FASB) ASC 740-10 (formerly known as FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes), prescribes a comprehensive model for how an organization should measure, recognize, present, and disclose in its financial statements uncertain tax positions that an organization has taken or expects to take on a tax return. The Foundation is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The Foundation believes it is no longer subject to income tax examinations for years prior to 2010. As of June 30, 2013 the Foundation has no uncertain tax positions. Part XI, Line 2d - Other Adjustments: Rental Expense 2,399,346. Fundraising Event Expenses 488,528. Part XI, Line 4b - Other Adjustments: Management Fees 18,232,431. Income/Loss from K-1's 2,722,451. Part XII, Line 2d - Other Adjustments: Rental Expense 2,399,346. Fundraising Event Expenses 488,528. Part XII, Line 4b - Other Adjustments: Management Fees 18,232,431. Change in Value of Split Interest Agreement 3,958,354. 1 Central America and the Caribbean Investment 265144649 Europe (Including Iceland & Greenland) Investment 46487334 East Asia and the Pacific 0 0 Fundraising 18584 Europe (Including Iceland & Greenland) 0 0 Grantmaking 20639 South America 0 0 Fundraising 13295 East Asia and the Pacific 0 0 Grantmaking 10792 North America 0 0 Grantmaking 350 South America 0 0 Grantmaking 1000 Sub-Saharan Africa 0 0 Grantmaking 28862 0 0 0 0 0 0 311696643 28862 311725505 Europe (Including Iceland & Greenland) Education and travel costs 20000 Bank Draft East Asia and the Pacific Education and travel costs 6300 Wire Transfer Sub-Saharan Africa Education and travel costs 24155 Wire Transfer 3 0 1 0 1 1 1 0 Procedure for Monitoring Grants Outside the U.S.: Schedule F, Part I, Line 2: The grant and assistance payments are verified with internal documents to ensure donor intent and criteria have been met before the payments are made. Schedule F, Part I, Line 3: The foreign activities that the Indiana University Foundation has been able to reasonably identify for either direct or indirect (thru reimbursement) support have been listed in Schedule F. The Indiana University Foundation exists to support the activities of Indiana University. There are activities supported by Indiana University, both domestic and foreign, that are reimbursed from IUF accounts. The Indiana University Foundation does not have a reasonable means to determine precisely if expenses reimbursed to Indiana University are foreign or domestic in nature. Appropriate due diligence has been taken to identify those which may be reportable. Little 500 Races 475158 5754 469404 0 46342 104297 297483 Armstrong Memorial Golf Outing 13515 3510 10005 0 0 0 13571 3 29860 0 29860 0 4549 3821 18465 518533 9264 509269 50891 108118 329519 488528 20741 1 Indiana University 401 E 7th Street Bloomington IN 47405 356001673 Gov't Entity 29877286 University Support Indiana University 401 E 7th Street Bloomington IN 47405 356001673 Gov't Entity 36667575 Student Scholarship and Financial Aid Indiana University 401 E 7th Street Bloomington IN 47405 356001673 Gov't Entity 23225570 Faculty Support & Research Indiana University 401 E 7th Street Bloomington IN 47405 356001673 Gov't Entity 15884113 Endowment and Capital Additions 1 0 Scholarships, general 5 51352 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: The grant and assistance payments are verified with internal documents to ensure donor intent and criteria have been met before the payments are made. X X X X 1 1 X X X 1 1 0 1 0 0 0 0 0 Eugene R Tempelthru 093012 228795 0 0 0 260602 0 28427 0 21364 0 539188 0 0 0 Gina M Reel 139850 0 0 0 1629 0 15636 0 10851 0 167966 0 0 0 Philippa Guthrie 179879 0 0 0 13438 0 21477 0 9106 0 223900 0 0 0 Gary Stratten 222816 0 78208 0 57469 0 31995 0 29629 0 420117 0 0 0 Marti Heil 265539 0 0 0 19746 0 31995 0 10662 0 327942 0 0 0 Paula Jenkins 144768 0 0 0 24942 0 16254 0 13166 0 199130 0 0 0 Dorothy Metaj 207659 0 0 0 14780 0 26205 0 12312 0 260956 0 0 0 Chris Ritrievi 192082 0 0 0 14646 0 23930 0 20232 0 250890 0 0 0 Jeffrey D Stumpf 119931 0 0 0 20250 0 14351 0 17833 0 172365 0 0 0 Eileen Savage 155208 0 0 0 1629 0 17972 0 14717 0 189526 0 0 0 John Keith 151123 0 0 0 1629 0 17972 0 10932 0 181656 0 0 0 Jeff Lindauer 158369 0 0 0 1629 0 18370 0 7521 0 185889 0 0 0 Laurie Burns McRobbie 148011 0 0 0 3439 0 16697 0 7304 0 175451 0 0 0 D Abe Weldy 125010 0 33903 0 71739 0 19231 0 26429 0 276312 0 0 0 James Bergstrom 125803 0 33132 0 1929 0 18912 0 25410 0 205186 0 0 0 Mary Bonk 141952 0 0 0 1629 0 16133 0 14506 0 174220 0 0 0 Sheila Decker 135398 0 0 0 1629 0 15403 0 25091 0 177521 0 0 0 Sandra Bate 147236 0 3333 0 1779 0 16997 0 10022 0 179367 0 0 0 Alice Luchini 134331 0 0 0 1709 0 15212 0 17932 0 169184 0 0 0 Jeff Lambright 132442 0 0 0 1629 0 14885 0 25039 0 173995 0 0 0 James P Perin 111677 0 0 0 38502 0 11334 0 12937 0 174450 0 0 0 Part I, Line 1a First Class or charter travel: The Indiana University Foundation maintains a policy governing all business expenses including travel. Should a business need (e.g. length of flight time, security concerns, lack of commercial air options, etc.) require the use of first-class or charter travel, the IU Foundation Board of Directors has authorized the IU Foundation CEO to approve its use. Chartered travel was provided to IUF Chairman of the Board; Associate VP, Principal Gifts; Associate to the President of IU; one IUF Fiduciary Director; and one IUF Non-fiduciary Director. These costs were not treated as taxable income because the travel was business related. In all cases, first-class and charter travel are considered in the Foundation's efforts to ensure compliance with the intermediate sanctions law. Travel for Companions: The Indiana University Foundation maintains a policy governing all business expenses which prohibits companion related expenses, except for the specifically defined role of Associate to the IU Foundation President. The duties of this position, which are outlined in a formal policy and support the organization's mission, are fulfilled by the IUF President & CEO's spouse. The Associate to the IU Foundation President incurs business related expenses on behalf of IUF, and those amounts are not treated as taxable. In all cases, travel for companions is considered in the Foundation's efforts to ensure compliance with the intermediate sanctions law. Tax indemnification and gross-up payments: Tax indemnification and gross-up payments are only paid to staff in limited circumstances, and must be approved in accordance with Indiana University Foundation policies governing these types of payments. In the case of disqualified persons, indemnification payments are considered in the Foundation's efforts to ensure compliance with the intermediate sanctions law. At least annually, the expenses incurred by all employees are reviewed to ensure appropriate taxation and reporting. Gross-up payments are established taking into account an estimated tax rate. However, employees receiving the payment are not grossed up for actual taxes incurred. The following gross-up payments were provided in 2012 in connection with the following items, and in all cases were treated as taxable income to the recipient: With the approval by the IUF Chief Financial Officer: *a wireless communication allowance for cell phone and data services is made available to those staff who demonstrate a business purpose for these types of payments, such as staff who need to have access via cell and data communication and information after hours. During 2012 eighty-three(83) employees received a wireless communication allowance. With the approval of the IUF Board of Directors: *allowances are made available to the IU Foundation President & CEO for housing, long-term disability, and supplemental retirement payments to provide future retirement restoration. *allowances for vehicles are made available to Vice Presidents, Senior Vice Presidents, and the President & CEO of the IU Foundation. Housing allowance or residence for personal use: Upon approval by the IUF Board of Directors, the Indiana University Foundation provided a housing allowance and leased a residence for the IUF President & CEO thru 09/30/12. The lease was an arm's-length transaction and was at market rates. The housing allowance was treated as income and taxed accordingly. The residence was also utilized for various Indiana University and IU Foundation business related functions and receptions. Housing allowance is considered in the Foundation's efforts to ensure compliance with the intermediate sanctions law. Part I, Lines 4a-b Part I, Lines 4a-b: Part I, Line 4a: As per an employment agreement, upon a qualifying termination defined as an involuntary separation from service other than for cause, the employee was entitled to severance pay based upon position, tenure and reason for separation. The terms and conditions to receive severance payments required the employee to sign a release of claims form that covers all situations surrounding the employee's employment and separation from Indiana University Foundation. Eugene R. Tempel $180,000 Part I, Line 4b: All employees and amounts listed are company contributions to various non-qualified deferred compensation plans organized under code section 457(f). The exact purpose of each plan varies but they include, compensation limitation make-up plans, deferral of a portion of incentive bonus type plans and other attributes of a deferred compensation plan. No payments were made to listed persons in Part VII under the various non-qualified deferred plans during the year. Part I, Line 5 The Indiana University Foundation Incentive Compensation Plan is available to key personnel in the Investment Department. The primary goal of the plan is retention of key investment staff who are responsible for helping the IU Foundation to achieve top quartile investment performance relative to its peers while reducing the volatility of performance over time. This plan is based on the premise of true value of dollars added by staff over an appropriate benchmark, IUF's Target Weighted Benchmark, and over a three-year period. The calculation of amount of bonus awarded is based on a formula similar to the industry standard and provides for a cap as a percentage of salary. This plan was developed and recommended by the Investment Committee of the IUF Board of Directors and approved by the Compensation Committee. Laurie Burns McRobbie See Part V 175451 Employment 0 Schedule L,Part IV,Business Transactions Involving Interested Persons: Relationship between interested person and the organization: (a) Name of Interested Person: Laurie Burns McRobbie(b) Relationship Between Interested Person and the Organization: Wife of Michael McRobbie, IUF Chairman of IUF Board(c) Amount of Transaction: $175,451(d) Description of Transaction: Employment(e) Sharing of Organization's Revenues? No X 14514 Cost X 1 20000 Appraised Value X 610 6582224 Listed Values X 6 1355506 Professional Appraisals X 13 40825 Opinion of Expert X 10 6782 Cost X Gift Cards/Tickets 55 5768 Face Value 47 0 1 1 Third Party Use: Part I, Line 32b: IUF hires realtors and auctioneers to assist with selling donated items. Form 990, Part VI, Section A, line 2 John Peterson, IUF Non Fiduciary Director, and Donald Danielson, IUF Non Fiduciary Director, are Chairman and Vice-Chairman of City Securities Corp, respectively. Additionally, John Peterson and Donald Danielson are brothers-in-law. Gayle Cook, IUF Non Fiduciary Director and Phyllis McCullough, IUF Honorary Director, are Co-Owner and Executive Vice Chairman, respectively, of Cook Group, Inc. Michael McRobbie, Board Chair and James T. Morris, IUF Non Fiduciary Director are directors of OneAmerica Financial Partners, Inc. Lacy M. Johnson, IUF Non Fiduciary Director and Harry L. Gonso, IUF Vice Chairman are partners at Ice Miller, LLP. Michael McRobbie, Board Chair and Laurie Burns McRobbie, IUF Key Employee are husband and wife. William Buckner, IUF Non Fiduciary Director and James T. Morris, IUF Non Fiduciary Director are Employee and President & Director, respectively, of Pacer Sports & Entertainment. William G. Mays, IUF Honorary Director and Rose Mays, IUF Non Fiduciary Director are husband and wife. Form 990, Part VI, Section B, line 11 The Form 990 is completed by Indiana University Foundation staff. A management team comprised of the Executive Vice President for Finance and Operations; Vice President and General Counsel; Assistant Vice President for Finance; Vice President and Chief Investment Officer; Assistant Vice President and Chief Compliance Officer; Vice President for Advancement & Managing Director of Capital Campaigns; Executive Vice President for Development; Controller; Director, Accouinting Operations; and Chief of Staff review the Form 990, including all schedules line-by-line to determine accuracy and validity. The Indiana University Foundation engages an independent accounting firm to review the Form 990. The President & CEO then reviews and signs the Form 990 and the independent accounting firm signs as preparer. The Indiana University Foundation Audit Committee reviews the completed Form 990, including all schedules. Once signed, an electronic version of the Form 990 is made available to the Indiana University Foundation Board of Directors via the internet. The Form 990 is then filed electronically with the IRS. Form 990, Part VI, Section B, line 12c Each July, the Indiana University Foundation provides a copy of its Conflicts of Interest Policy to all directors and officers. Directors and officers are required to read and comply with the policy which requires, at a minimum, annually disclosing the existence or non-existence of any conflicts of interest, real or perceived, in writing to the Indiana University Foundation Corporate Secretary. The disclosures are reviewed by Indiana University Foundation staff including the Senior Vice President for Finance and Operations; Vice President and General Counsel; Vice President and Chief Investment Officer; Corporate Secretary; Assistant Vice President and Chief Compliance Officer; and the Executive Director, Real Estate to determine validity and completeness based on staff knowledge of Indiana University Foundation activities and transactions. The results of this review, along with every disclosure in its entirety, are provided to the Indiana University Foundation Audit Committee Chair and Vice Chair. A report is then made by the Audit Committee Chair to the full Audit Committee. When applicable, the Audit Committee Chair will also report any disclosure requiring action to the Indiana University Foundation Executive Committee and Committee on Directors and Governance. When applicable, the Audit Committee Chair will also report any disclosure requiring action to the Indiana University Foundation Board and all relevant Board committees. In addition to the Conflicts of Interest Policy, each July the Indiana University Foundation provides a background survey and a request for information for Form 990 disclosures to all officers and directors. As with the Conflicts of Interest, disclosures related to the survey and Form 990 are reviewed by staff and provided verbatim to the Indiana University Foundation Audit Committee Chair and Vice Chair. A report is then made by the Audit Committee Chair to the full Audit Committee. When applicable, the Audit Committee Chair will also report any disclosure requiring action to the Indiana University Foundation Executive Committee and Committee on Directors and Governance. When applicable, the Audit Committee Chair will also report any disclosure requiring action to the Indiana University Foundation Board and all relevant Board committees. Form 990, Part VI, Section B, line 15 Each June, the Indiana University Foundation Compensation Committee approves the compensation arrangements for disqualified persons in accordance with IRS regulation section 53.4958-6 "Rebuttable presumption that a transaction is not an excess benefit transaction". Individuals defined as disqualified persons who receive compensation from the Indiana University Foundation include: the President & CEO; Senior Vice President for Finance and Operations; Senior Vice President for Development; Vice President and Chief Investment Officer; Vice President for Development, Regional Campuses; Vice President and General Counsel; Assistant Vice President and Controller for Finance; Corporate Secretary; Vice President for Development, Indianapolis; IU Foundation President Emeritus; and the Indiana University Associate to the President. The compensation arrangement for each individual is approved in advance for the upcoming fiscal year period July 1 thru June 30 by the Compensation Committee which is an authorized body of the Indiana University Foundation Board of Directors. The Compensation Committee is composed entirely of independent directors who do not have a conflict of interest (within the meaning of paragraph (c)(1)(iii) of section 53.4958-6) with respect to the compensation arrangement for each disqualified person. The Compensation Committee determines if each compensation arrangement in its entirety is reasonable through the use of relevant information including, but not limited to, compensation levels paid by similarly situated organizations, both taxable and tax-exempt, for functionally comparable positions; the availability of similar services in the geographic area of the applicable tax-exempt organization; current compensation surveys compiled by independent firms; and actual written offers from similar institutions competing for the services of the disqualified person. Upon approval of the compensation arrangement for each disqualified person, the Compensation Committee provides written documentation noting the terms of the transaction that was approved and the date it was approved; the members of the Committee who were present during review of the arrangement that was approved and those who voted on it; the comparability data obtained and relied upon by the Committee and how the data was obtained; and, if applicable, any actions taken with respect to consideration of the arrangement by anyone who is otherwise a member of the Committee but who had a conflict of interest with respect to the arrangement. The Compensation Committee's most recent review and approval of compensation arrangements for all disqualified persons was June 6, 2013. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest and financial statements are available to the public on the IU Foundation's public website; www.iufoundation.iu.edu. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 9: Change in Value of Split Interest Agreement 3,958,354. Income/Loss from K-1's -2,722,451. Additional Explanation for Fundraising Events Schedule G Part II IUF annually holds the Little 500 races. While these events do raise some funds, their main objective is to increase awareness of philanthropy among the student population and create bonds upon which to base future giving potential. CVI GVF Holdings 8 Ltd PO Box 309 Grand Cayman CJ KY1-1104 Investment CJ IU Foundation C 5131033 19548100 0.99000 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 CVI GVF Holdings 8 Ltd S 13252332 FMV