2013-10-07T16:17:20-05:00 2012-12-31 540504608 BROWN EDWARDS & COMPANY LLP PO BOX 10189 LYNCHBURG VA 245060189 990 2012-01-01 540505959 THOMAS JEFFERSON FOUNDATION INC THOM 4349849806 PO BOX 316 CHARLOTTESVILLE VA 22902 VICTORIA W JONES 4349849806 2013-10-04 1 SUSAN ACKLEY P00025524 4349489000 2012 2016-02-24 21:20:13Z LESLIE G BOWMAN PO BOX 316 CHARLOTTESVILLE VA 22902 34224245 0 X WWW.MONTICELLO.ORG X 1923 VA THE THOMAS JEFFERSON FOUNDATION'S MISSION IS TWO-FOLD: PRESERVATION AND EDUCATION PRESERVATION-TO CONSERVE, PROTECT AND MAINTAIN MONTICELLO IN A MANNER THAT LEAVES IT ENHANCED AND UNIMPAIRED FOR FUTURE GENERATIONS. EDUCATION- TO INTERPRET AND PRESENT THOMAS JEFFERSON TO THE WIDEST POSSIBLE AUDIENCES, INCLUDING SCHOLARS AND THE GENERAL PUBLIC. 16 16 418 131 521565 -47030 8449190 7767020 7790363 8231669 2171397 10047132 4433940 4541726 22844890 30587547 134902 132623 0 0 11286827 11662691 0 0 1247958 10982693 12851405 22404422 24646719 440468 5940828 233659504 247526299 41160484 40172038 192499020 207354261 THE THOMAS JEFFERSON FOUNDATION'S MISSION IS TO PRESERVE MONTICELLO AND EDUCATE THE WIDEST AUDIENCE REGARDING THOMAS JEFFERSON INCLUDING SCHOLARS AND THE GENERAL PUBLIC. 0 0 13870787 12188786 THE THOMAS JEFFERSON FOUNDATION OPERATES MONTICELLO, THE HOME OF THE NATION'S THIRD PRESIDENT AND AUTHOR OF THE AMERICAN DECLARATION OF INDEPENDENCE. OVER 435,000 PEOPLE VISIT MONTICELLO ANNUALLY. ADMISSION INCLUDES AN INTERPRETIVE GUIDED TOUR OF HIS HOME, ONE OF OUR COUNTRY'S FOREMOST ARCHITECTURAL MASTERPIECES AND THE ONLY HOME IN AMERICA NAMED TO THE UNITED NATION'S WORLD HERITAGE LIST. IN ADDITION TO ADMISSION REVENUE THE ABOVE TOTAL ALSO INCLUDES GIFTS AND GRANTS, AND SALES FROM THE RETAIL OPERATIONS OF THE MUSEUM SHOPS AND CATALOG. THE REVENUE CONTRIBUTES TO THE PRESERVATION OF MONTICELLO FOR FUTURE GENERATIONS, WHICH IS ONE OF THE MISSIONS OF THE FOUNDATION. 4229908 132623 THE THOMAS JEFFERSON FOUNDATION OPERATES THE ROBERT H. SMITH INTERNATIONAL CENTER FOR JEFFERSON STUDIES (ICJS), WHICH HOUSES THE THOMAS JEFFERSON LIBRARY. THE CENTER IS ALSO DEVOTED TO RESEARCH AND EDUCATION OF THE GENERAL PUBLIC AS WELL AS SCHOLARLY RESEARCH AND PUBLICATIONS, THROUGH THE JEFFERSON LIBRARY, ARCHAEOLOGICAL RESEARCH AND PUBLICATION, AND OTHER ADULT EDUCATION PROGRAMS. THE ICJS ALSO IS RESPONSIBLE FOR THE RESEARCH AND PUBLICATION OF 23 VOLUMES OF RESEARCH, THE PAPERS OF THOMAS JEFFERSON, EMBRACING THE PERIOD FROM JEFFERSON'S RETIREMENT FROM THE PRESIDENCY IN MARCH 1809 UNTIL HIS DEATH IN 1826, KNOWN AS "THE RETIREMENT SERIES". 2044511 THE FOUNDATION'S RESTORATION DEPARTMENT IS DEDICATED TO THE ARCHITECTURAL PRESERVATION OF THE UNITED NATIONS WORLD HERITAGE HOUSE WHILE THE CURATORIAL COLLECTIONS ARE UNDER THE CARE OF A FULL-TIME CURATORIAL DEPARTMENT. THE FOUNDATION'S COLLECTIONS ARE MAINTAINED FOR PUBLIC EXHIBITION, EDUCATION, AND RESEARCH IN ORDER TO ADVANCE UNDERSTANDING OF JEFFERSON AND MONTICELLO IN FURTHERANCE OF PUBLIC SERVICE. 20145206 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 110 0 1 418 1 1 1 0 0 0 0 1 1 1 1 0 0 1 1 0 0 0 0 X 16 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 VA AL AK AZ AR CA CO CT FL GA HI IL KS KY LA ME MD MA MI MN MS NH NJ NM NY NC OH OK OR PA RI SC TN UT WA WV WI ND DC X PHILIPPE JD HEUSCHEN CONTROLLER 4349849806 1050 MONTICELLO LOOP ROAD CHARLOTTESVILLE VA 22902 H EUGENE LOCKHART JR 1.00 X X 0 0 0 DONALD A KING JR 1.00 X X 0 0 0 LUELLA DAVIS 1.00 X X 0 0 0 JOHN H BIRDSALL 1.00 X 0 0 0 JF BRYAN IV 1.00 X 0 0 0 CHARLES T CULLEN 1.00 X 0 0 0 COURTNAY DANIELS 1.00 X 0 0 0 GINGER HUANG DIETRICH 1.00 X 0 0 0 DAVID R GOODE 1.00 X 0 0 0 FRITZ KUNDRUN 1.00 X 0 0 0 RICHARD A MAYO 1.00 X 0 0 0 CARTER MCNEELY 1.00 X 0 0 0 CHARLOTTE MOSS 1.00 X 0 0 0 LIBBY H O'CONNELL 1.00 X 0 0 0 PAMELA REYNOLDS 1.00 X 0 0 0 JOHN CHARLES THOMAS 1.00 X 0 0 0 LESLIE G BOWMAN 40.00 X 341332 0 62065 ANN H TAYLOR 40.00 X 179396 0 16460 VICTORIA W JONES 40.00 X 178180 0 16490 GLENN A SLOSSON 40.00 X 165469 0 13789 SUSAN R STEIN 40.00 X 123165 0 12842 JOHN J LOONEY 40.00 X 113950 0 15365 GARY SANDLING 40.00 X 113723 0 7931 KENNETH MITCHELL 40.00 X 111354 0 10637 ANDREW O'SHAUGHNESSY 40.00 X 109194 0 10740 SHARON L MCELROY 40.00 X 102525 0 11768 1538288 0 178087 10 0 1 0 BANK OF AMERICA PO BOX 15796 WILMINGTON DE 198865796 CREDIT CARD SERVICE 645774 UNITED PARCEL SERVICE PO BOX 7247-0244 PHILADELPHIA PA 191700001 RETAIL SHIPPING 610471 CHRISTIE'S INC 20 ROCKEFELLER CENTER NEW YORK NY 10020 COLLECTION ACQUISITION 410000 PROGRESS PRINTING 2677 WATERLICK ROAD LYNCHBURG VA 245024861 PRINTING 350750 ADVANCED NETWORK SYSTEMS INC PO BOX 7222 CHARLOTTESVILLE VA 22906 IT NETWORK SOLUTIONS 272483 21 10964 244709 7511347 813622 7767020 ADMISSIONS FEES 900099 7612496 7612496 OTHER PROGRAM INCOME 900099 274164 274164 EDUCATION PROGRAM 900099 233806 233806 FOOD SERVICE SALES 453220 111203 111203 8231669 854656 1550 853106 45325 45325 88663 0 88663 88663 88663 9452271 259795 9192476 9192476 46609 9145867 7784641 3376903 4407738 3934332 473406 30587547 12188786 521565 10110176 132623 132623 1540351 1079561 305330 155460 8018742 6885715 813174 319853 431327 359031 51322 20974 936801 779735 123430 33636 735470 627382 75412 32676 94826 94826 70011 70011 1031526 794489 208520 28517 430515 407691 22824 1455555 1225501 168750 61304 446632 377741 37034 31857 422 422 630071 559494 66712 3865 648273 429337 69232 149704 1102040 1102040 3487150 2600983 675680 210487 304920 64334 240586 EQUIPMENT RENTAL AND MA 1025515 816361 108762 100392 PRINTING AND PUBLICATIO 753433 684366 13019 56048 SHIPPING & HANDLING 582842 582842 CONSERVATION AND COLLEC 474871 474871 312803 160687 108931 43185 24646719 20145206 3253555 1247958 6774288 6376980 8674169 6936921 81585 120580 1836434 1641687 335750 361698 88309383 16771593 74504134 71537790 26751399 34327530 114032348 125547339 669397 675774 233659504 247526299 1744663 1747473 29838000 29806000 1520471 0 8057350 8618565 41160484 40172038 X 126014013 133441522 27235063 34481813 39249944 39430926 192499020 207354261 233659504 247526299 X 5940828 10686961 96833 -1869381 X X 0 1 X 1 0 X 11456170 11674682 10831598 8449190 7767020 50178660 11456170 11674682 10831598 8449190 7767020 50178660 18437029 31741631 835604 503389 891729 658810 988644 3878176 360016 423780 477542 442975 473406 2177719 128110 164346 76308 109384 111203 589351 56823906 67931430 0.55860 0.55310 X SCHEDULE A, PART IV, SUPPLEMENTAL INFORMATION: PART II, SECTION B, LINE 10; OTHER INCOME CONSISTS OF FOOD SERVICE COMMISSION REVENUE. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 102323595 1007821 7227122 2328018 108230520 100185452 2485325 1891044 2238226 102323595 95993551 2193004 4144361 2145464 100185452 71387250 19541882 6901291 1836872 95993551 65172406 16008923 -7022774 2771305 71387250 0.48000 0.36000 0.16000 0 0 14158145 14158145 54535924 8300038 46235886 113210 96466 16744 8385045 4489812 3895233 11117059 3885277 7231782 71537790 PRIVATE INVESTMENT COMPANIES 125547339 F 125547339 ANNUITY PAYABLE AND SPLIT INTEREST LIABILITIES 645094 SWAP LIABILITIES 4906891 NET PENSION LIABILITY 3066580 8618565 X 44748244 10686961 96833 3376903 14160697 30587547 0 30587547 29893003 5246284 5246284 24646719 0 24646719 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ALL ENDOWMENT INVESTMENTS ARE CLASSIFIED AS NONCURRENT ASSETS TO RECOGNIZE THE FOUNDATION'S INTENTION TO CONTINUALLY REINVEST EARNINGS AND PRESERVE PRINCIPAL EXCEPT TO THE EXTENT OF ANY ANNUAL WITHDRAWALS IN ACCORDANCE WITH THE ENDOWMENT SPENDING POLICY. THE FOUNDATION HAS A POLICY OF APPROPRIATING 5% OF THE AVERAGE MARKET VALUES OF ENDOWMENT FUNDS AS OF JUNE 30, OF EACH OF THE THREE YEARS PRECEDING THE FISCAL YEAR IN WHICH SPENDING IS PLANNED. IN ESTABLISHING THIS POLICY, THE FOUNDATION CONSIDERED THE LONG TERM EXPECTED TOTAL REAL RETURN ON ITS ENDOWMENT. ACCORDINGLY, OVER THE LONG TERM, THE FOUNDATION EXPECTS ITS SPENDING POLICY TO ALLOW ITS ENDOWMENT TO GROW AT AN AVERAGE ANNUAL REAL TOTAL RETURN OF 5%. THIS IS CONSISTENT WITH THE FOUNDATION'S OBJECTIVE TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS HELD IN PERPETUITY OR FOR A SPECIFIED TERM WHILE SUPPORTING THE OPERATIONS OF THE FOUNDATION. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 3,376,903. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 3,376,903. UNREALIZED LOSS ON INTEREST RATE SWAP CONTRACT 87,995. CHANGE IN PENSION LIABILITY 1,028,627. LOSS ON DISPOSITION OF PROPERTY 752,759. PART III, LINES 1A & 4: AFS FOOTNOTE 1 HISTORIC PROPERTIES AND COLLECTIONS: THE FOUNDATION HAS ELECTED NOT TO CAPITALIZE ITS HISTORIC PROPERTIES AND COLLECTIONS. THESE COLLECTIONS ARE RELATED TO THOMAS JEFFERSON AND HIS PLANTATION HOME, MONTICELLO. THE MOST PRECIOUS ARTIFACT IN THE COLLECTION IS THE HOUSE ITSELF AND THE SURROUNDING LANDSCAPE, WHICH WERE DESIGNED BY THOMAS JEFFERSON BETWEEN 1769 AND 1809. THE CURATORIAL COLLECTIONS CHIEFLY CONSIST OF PAINTINGS, DECORATIVE ARTS AND ARTIFACTS, APPROXIMATELY 2,600 OF WHICH RELATE DIRECTLY TO JEFFERSON AND MONTICELLO, AND ABOUT 1,900 BOOKS WITH TITLES AND EDITIONS SELECTED TO DUPLICATE JEFFERSON'S ORIGINAL LIBRARY. ABOUT 40 OF THESE VOLUMES ARE JEFFERSON'S OWN COPIES. THE FOUNDATION'S RESTORATION DEPARTMENT IS DEDICATED TO THE ARCHITECTURAL PRESERVATION OF THE HOUSE, WHILE THE CURATORIAL COLLECTIONS ARE UNDER THE CARE OF A FULL CURATORIAL DEPARTMENT. THE FOUNDATION'S COLLECTIONS ARE MAINTAINED FOR PUBLIC EXHIBITION, EDUCATION, AND RESEARCH IN ORDER TO ADVANCE UNDERSTANDING OF JEFFERSON AND MONTICELLO IN FURTHERANCE OF PUBLIC SERVICE. THE FOUNDATION'S COLLECTIONS MANAGEMENT POLICY REQUIRES THAT THE PROCEEDS FROM THE SALE OF ANY ARTIFACT FROM THE FOUNDATION'S COLLECTION WOULD BE USED TO ACQUIRE ADDITIONAL ARTIFACTS FOR THE COLLECTION. THE FOUNDATION DOES NOT RECOGNIZE THE DONATIONS OF COLLECTION ITEMS AS CONTRIBUTION INCOME, AS THE COLLECTIONS ARE NOT CAPITALIZED. PART X, LINE 2: THE FOUNDATION HAS BEEN DETERMINED BY THE IRS TO BE EXEMPT FROM TAXES ON INCOME DERIVED FROM ACTIVITIES RELATED TO ITS EXEMPT PURPOSE UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. HOWEVER, THE FOUNDATION IS SUBJECT TO INCOME TAXES ON PROFITS GENERATED FROM THE SALE OF ITEMS IN ITS MUSEUM SHOPS AND CATALOG WHICH ARE UNRELATED TO ITS EXEMPT PURPOSE. THE FOUNDATION HAS NET OPERATING LOSS CARRYFOWARDS TOTALING MORE THAN $3 MILLION, WITH EXPIRATIONS RANGING FROM 2019 TO 2029. A 100% VALUATION ALLOWANCE HAS BEEN RECORDED AGAINST THIS DEFERRED TAX ASSET BECAUSE IT IS UNCERTAIN THAT THE LOSS CARRYFORWARD REPRESENTS A FUTURE TAX BENEFIT. THE FOUNDATION'S INCOME TAX RETURNS FOR 2009 AND FORWARD ARE SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAXING AGENCIES. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICE ARCHAEOLOGY RESEARCH 3314 ASIA 0 0 PROGRAM SERVICE CONFERENCES 22317 0 0 0 0 0 0 25631 0 25631 0 0 0 0 0 0 PART I,ITEM 3 - CARIBBEAN - THE FOUNDATION HOLDS ARCHAEOLOGICAL FIELD RESEARCH AT THE PAPINE SLAVE VILLAGE LOCATED ON THE CAMPUS OF THE UNIVERSITY OF THE WEST INDIES, MONA KINGSTON JAMAICA. EXPENDITURES INCLUDE TRAVEL TO AND FROM THE FIELD SITE, MEALS AND HOUSING FOR CREW MEMBERS, AND HONORARIA FOR JAMAICAN VOLUNTEERS. PART I, ITEM 3, - ASIA: THE FOUNDATION HELD A CONFERENCE IN BEIJING, CHINA FROM NOVEMBER 16-18, 2012 ENTITLED: "DEMOCRACY, REPUBLICANISM, AND STATE BUILDING IN THE AGE OF JEFFERSON: AN INTERNATIONAL SYMPOSIUM" IN PARTNERSHIP WITH PEKING UNIVERSITY. 1 FELLOWSHIPS 31 112056 0 N/A NONE THE FELLOWSHIP AWARDS ARE MADE TO DOCTORAL CANDIDATES AND POSTDOCTORAL SCHOLARS WORKING ON THOMAS JEFFERSON RELATED OR THOMAS JEFFERSON ERA PROJECTS. ALL FELLOWS ARE EXPECTED TO BE IN RESIDENCE AT THE ROBERT H. SMITH INTERNATIONAL CENTER FOR JEFFERSON STUDIES, WHERE THEY HAVE ACCESS TO THE FOUNDATION'S EXPERT STAFF AND RESEARCH HOLDINGS AT THE JEFFERSON LIBRARY AS WELL AS THOSE OF THE UNIVERSITY OF VIRGINIA. POTENTIAL FELLOWS MUST SUBMIT A SUCCINCT DESCRIPTION OF THE RESEARCH PROJECT (500 WORDS), ONE-PARAGRAPH SUMMARY OF THE PROJECT AND A RESUME. AWARDS ARE MADE TWICE YEARLY. THE APPLICATIONS ARE REVIEWED BY A SELECTION COMMITTEE CONSISTING OF SEVERAL FOUNDATION STAFF MEMBERS AND THOMAS JEFFERSON PROFESSORS AT THE UNIVERSITY OF VIRGINIA HISTORY DEPARTMENT. THE FELLOWSHIP AWARDS ARE GIVEN FOR THE MOST WORTHY PROPOSALS. X X X 1 1 X X X X X X 1 0 0 0 0 0 0 0 0 LESLIE G BOWMAN 341332 0 0 0 0 0 15000 0 47065 0 403397 0 0 0 ANN H TAYLOR 179396 0 0 0 0 0 10618 0 5842 0 195856 0 0 0 VICTORIA W JONES 178180 0 0 0 0 0 9392 0 7098 0 194670 0 0 0 GLENN A SLOSSON 91691 0 0 0 73778 0 8909 0 4880 0 179258 0 0 0 SUPPLEMENTAL INFORMATION PART III PART I, LINE 1A: THE FOUNDATION HAS A TRAVEL AND REIMBURSEMENT POLICY IN PLACE WHICH DETAILS TRAVEL ELIGIBLE FOR REIMBURSEMENT. ANY SUCH REQUEST MUST BE APPROVED BY THE EMPLOYEE'S SUPERVISOR. IN THE CASE OF THE FOUNDATION PRESIDENT ALL REIMBURSEMENTS ARE REVIEWED BY THE BOARD CHAIR. PART I, LINE 1A: THE FOUNDATION REQUIRES MS. BOWMAN TO LIVE IN FOUNDATION PROVIDED HOUSING. VALUATION OF THE HOUSING PROVIDED IS ASSESSED BY AN INDEPENDENT THIRD-PARTY REALTOR. PART I, LINE 1A: THE FOUNDATION COVERS A PORTION OF HEALTH CLUB MEMBERSHIP FOR ALL EMPLOYEES WHO ELECT SUCH MEMBERSHIP. PART II, LINE 4A: GLENN A. SLOSSON RECEIVED A NEGOTIATED PAYMENT OF $73,778. A EDA OF ALBEMARLE COUNTY VIRGINIA 521297503 2011-12-20 29840000 REVENUE REFUNDING BOND FOR CONSTRUCTION 0 0 0 A 29840000 2009 1 0 1 1 A 0 0 0 0 0 0 1 A 1 1 0 0 NA 0 0 1 A 1 PART I, LINE A (F): CURRENT REFUNDING OF ISSUER'S VARIABLE RATE REVENUE BONDS (THOMAS JEFFERSON FOUNDATION, INC.), SERIES 2007 ISSUED ON JUNE 27, 2007 TO FINANCE THE COSTS OF CONSTRUCTION OF A VISITOR CENTER. X 25 813622 FAIR MARKET VALUE X 7 0 SEE PART II EXPLANATION 1 0 1 0 NON REPORTING OF REVENUE: PART I, LINE 33: THE FOUNDATION HAS ELECTED NOT TO CAPITALIZE ITS HISTORIC PROPERTIES AND COLLECTIONS. THESE COLLECTIONS ARE RELATED TO THOMAS JEFFERSON AND HIS PLANTATION HOME, MONTICELLO. THEREFORE, THE FOUNDATION DOES NOT RECOGNIZE THE DONATION OF COLLECTION ITEMS AS CONTRIBUTION REVENUE. FORM 990, PART VI, SECTION B, LINE 11 THE FOUNDATION'S FORM 990 IS REVIEWED AND APPROVED BY MANAGEMENT, THEN FORWARDED TO THE AUDIT COMMITTEE FOR REVIEW. UPON APPROVAL BY THE AUDIT COMMITTEE, THE FORM 990 IS DISTRIBUTED TO ALL MEMBERS OF THE BOARD OF TRUSTEES AND THEN SUBSEQUENTLY FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION HAS A WRITTEN "ETHICS POLICY AND CODE OF CONDUCT" WHICH REQUIRES THE BOARD OF TRUSTEES, EMPLOYEES, INTERNS AND VOLUNTEERS TO ANNUALLY REVIEW THE POLICY AND DISCLOSE IN WRITING ANY POTENTIAL CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE REVIEWS COMPENSATION FOR OFFICERS AND UPPER MANAGEMENT ANNUALLY. THE FOUNDATION USES SALARY INFORMATION OBTAINED FROM GUIDESTAR NON PROFIT COMPENSATION REPORT AND SALARY SURVEYS AS FOLLOWS: PRM; ASSOCIATION OF ART MUSEUM DIRECTORS; NATIONWIDE MUSEUM AND CULTURAL INSTITUTION SURVEY; AMERICAN PUBLIC GARDENS ASSOCIATION COMPENSATION AND BENEFITS SURVEY; TOWERS WATSON SALARY SURVEY; KENEXA COMP ANALYSIS SOFTWARE; INFORMATION OBTAINED FROM THE BUSINESS AND LEGAL REPORTS (BLR) WEBSITE; INFORMATION OBTAINED FROM THE UVA WEBSITE; INFORMATION OBTAINED FROM OTHER HISTORICAL SITES SUCH AS MOUNT VERNON, MONTPELIER, COLONIAL WILLIAMSBURG; INFORMATION OBTAINED FROM SURROUNDING LOCATIONS SUCH AS THE CITY OF CHARLOTTESVILLE, HENRICO COUNTY, AND ALBEMARLE COUNTY; QUATT ASSOCIATES INDEPENDENT COMPENSATION CONSULTANTS; AND, AD-HOC SURVEY OF OTHER PRESIDENTIAL PAPERS PROJECTS. THE EXECUTIVE COMMITTEE REVIEWS THE SURVEY INFORMATION AS COMPARED WITH THE SALARY PAID TO OFFICERS AND UPPER MANAGEMENT, GIVES INPUT, AND APPROVES THE COMPENSATION. THE EXECUTIVE AND FINANCE COMMITTEE HAVE THE FINAL APPROVAL FOR ALL OFFICER AND KEY EMPLOYEE COMPENSATION. FORM 990, PART VI, SECTION C, LINE 18 THE FOUNDATION MAKES ITS 990, 990T AND IRS DETERMINATION LETTER (FORM 1023) AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION DOES NOT PUBLISH ITS ORGANIZATIONAL DOCUMENTS, "ETHICS POLICY AND CODE OF CONDUCT" AND FINANCIAL STATEMENTS. THESE DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN PENSION LIABILITY -1,028,627. UNREALIZED LOSS ON INTEREST RATE SWAP CONTRACT -87,995. LOSS ON DISPOSITION OF PROPERTY -752,759. FORM 990, PART XII, LINE 2C - THE AUDIT COMMITTEE WHICH CONSISTS OF INDEPENDENT TRUSTEES IS RESPONSIBLE FOR OVERSIGHT OF THE FOUNDATION'S AUDIT AND SELECTION OF AN INDEPENDANT CERTIFIED PUBLIC ACCOUNTANT. CONTRIBUTIONS FORM 990, PART V, QUESTIONS 7G AND 7H THE FOUNDATION DID NOT RECEIVE CONTRIBUTIONS OF QUALIFIED INTELLECTUAL PROPERTY IN 2012, THEREFORE THERE WAS NO FORM 8899 REQUIRED. ADDITIONALLY, THE FOUNDATION DID NOT RECEIVE ANY CONTRIBUTION OF PROPERTY THAT WOULD REQUIRE THE FOUNDATION TO FILE FORM 1098-C.