2012-12-10T08:19:25-06:00 2012-06-30 591363792 KEEFE MCCULLOUGH & CO LLP CPA'S 6550 N FEDERAL HIGHWAY SUITE 410 FT LAUDERDALE FL 33308 990 2011-07-01 590917284 FLORIDA ATLANTIC UNIVERSITY FOUNDATION INC FLOR 5612972891 777 GLADES ROAD ADM 295 BOCA RATON FL 33431 JENNIFER O'FLANNERY ANDERSON PHD 5612972891 2012-12-10 1 JAMES R LARAWAY P00341086 9547710896 2011 2016-02-24 21:20:13Z JENNIFER O'FLANNERY ANDER 777 GLADES ROAD ADM 295 BOCA RATON FL 33431 48759561 0 X HTTP://FAUF.FAU.EDU X 1960 FL TO SUPPORT FLORIDA ATLANTIC UNIVERSITY. 31 31 0 51 5631 15543 10038908 11252262 604993 484542 5822529 3135023 1513645 1218592 17980075 16090419 2659058 3307653 0 0 3629012 4526765 47637 38329 1264981 5361187 7951998 11696894 15824745 6283181 265674 227911152 224933257 18118387 17410958 209792765 207522299 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 3307653 3307653 PROVIDED OVER 1,064 STUDENTS WITH SCHOLARSHIPS FROM DONATED GIFTS. 3225989 PROVIDE SUPPORT FOR THE SALARIES OF OUR EMINENT SCHOLARS, PROFESSORS, AND OTHER FACULTY AND STAFF. 6978659 491561 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. 13512301 1 1 0 1 0 0 1 1 0 1 1 1 0 1 1 0 1 1 0 0 1 0 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 1 0 1 X 84 0 1 0 1 1 1 TU CJ VI BD EI 0 0 1 1 1 1 0 0 0 0 X 31 31 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 H ALLEN 1.00 X X 0 0 0 DANIEL CANE 0.50 X 0 0 0 JOSEPH W COLLARD 0.50 X 0 0 0 STEPHEN CONSTANTINE 0.50 X 0 0 0 HOWARD R COOPER 0.50 X 0 0 0 DENISE DICKINS 0.50 X 0 0 0 JOHN DUFFY 0.50 X 0 0 0 CHRISTOPHER FLUEHR 0.50 X 0 0 0 MARLEEN FORKAS 0.50 X 0 0 0 IRA J GELB MD 0.50 X 0 0 0 KATHLEEN GRACE 0.50 X 0 0 0 BRETT GREENBERG 0.50 X 0 0 0 DALE GREGORY 0.50 X 0 0 0 DAVID J GURY 0.50 X X 0 0 0 J RANDY JUSTICE 1.00 X X 0 0 0 BONNIE KAYE 0.50 X 0 0 0 GARY LESSER 0.50 X 0 0 0 PETER LOBELLO 0.50 X 0 0 0 STEWART MARTIN 0.50 X 0 0 0 ALLEN MCGEE 0.50 X 0 0 0 PATRICIA MCKAY 0.50 X X 0 0 0 RAYMOND MONTELEONE 0.50 X 0 0 0 WILLIAM MORRIS 0.50 X 0 0 0 NEALE J POLLER 0.50 X 0 0 0 ROBERT ROLLINS 0.50 X 0 0 0 CHARLES E RUTHERFORD 0.50 X 0 0 0 EDWARD SABIN 0.50 X 0 0 0 NEIL SCHILLER 0.50 X 0 0 0 JAY WEINBERG 0.50 X 0 0 0 CHRISTOPHER WHEELER 0.50 X 0 0 0 RHYS L WILLIAMS 0.50 X 0 0 0 MJ SAUNDERS 0.50 X 0 395348 26700 ROMAYNE BERRY 0.50 X 0 0 0 ALENE BREWER 0.50 X 0 0 0 LOUIS SANDLER 0.50 X 0 0 0 AYDEN MAHER 0.50 X 0 0 0 WILLIAM MCDANIEL 1.00 X 0 173125 15844 HOWARD SCHNELLENBERGER 40.00 X 0 430718 26179 JENNIFER O'FLANNER ANDERSONPHD 40.00 X X 0 9608 695 RANDY TALBOT 40.00 X 0 261096 39392 LAURIE CARNEY 40.00 X 58730 58730 22173 KEITH FRIES 40.00 X 0 115868 23626 JENNIFER DUBUQUE 40.00 X 114326 0 23877 AVY WEBERMAN 40.00 X 50438 54641 23580 SHARON BROWN 40.00 X 105842 0 18195 MARILYN WEINBERG 0.50 X 0 0 0 329336 1499134 220261 9 1 1 0 CHARTWELLS 777 GLADES ROAD BOCA RATON FL 33431 CATERING SERVICES 483585 MERCER INVESTMENT CONSULTANTS 1166 AVENUE OF THE AMERICAS NEW YORK NY 100362705 CONSULTING - INVESTMENT 101250 2 8011 183357 920877 135833 10004184 2049472 11252262 CONFERENCES AND OTHER 900099 229301 229301 OTHER PROGRAM SERVICE 900099 91952 91952 COMMUNITY PROGRAMS 900099 86880 86880 SPONSORSHIP REVENUE 900099 49685 49685 ACADEMIC PROGRAMS 900099 26724 26724 484542 3060076 3060076 152956 152956 1061186 0 1061186 1061186 1061186 32207307 32132360 74947 74947 74947 485609 920877 534487 -48878 -48878 43723 2295 41428 41428 OTHER INCOME 900099 6269 6269 ADVERTISING REVENUE 900099 5631 5631 11900 16090419 490811 5631 4341715 3307653 3307653 533992 200856 30511 302625 3266639 2575569 333371 357699 271598 171970 34428 65200 163787 65197 33767 64823 290749 212397 27837 50515 135000 135000 27041 13066 13975 50400 50400 5580 5580 38329 38329 333251 297255 35996 577194 503981 33008 40205 90446 55665 285 34496 921209 593603 150470 177136 169147 133989 31880 3278 2600 2530 70 25665 22225 3440 458535 445092 2398 11045 395735 363846 1697 30192 20010 526 19484 2749427 2749427 4816 756 4060 50894 19649 29365 1880 EQUIPMENT 917873 902575 2306 12992 ENTERTAINMENT 387286 326309 19410 41567 EVENTS HOSTED 340659 304651 24967 11041 MAINTENANCE AND REPAIR 106790 101398 4403 989 182440 136536 24935 20969 15824745 13512301 1047463 1264981 628110 608865 12532682 3615796 3043064 4931283 5956639 188502 4492953 5768137 129249025 126738675 60282858 66087984 3283966 3077882 14398494 14104635 227911152 224933257 1761573 1987457 822149 0 15534665 15423501 18118387 17410958 X 5968772 6140818 64011555 59865604 139812438 141515877 209792765 207522299 227911152 224933257 X 265674 -2536140 X X 0 1 1 X 0 X 11890654 10986065 8713877 10041791 8745191 50377578 2129359 2056016 1855063 2247046 2512394 10799878 14020013 13042081 10568940 12288837 11257585 61177456 26705 61150751 5463735 4717265 3749620 4205543 4274218 22410381 56924 118997 347141 75666 78165 676893 84264730 2536587 0.72570 0.71400 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 5580 5580 16355947 16361527 968076 242019 0 0 999235 958455 755849 968076 3681615 5522423 213993 43103 29133 5580 291809 249809 239614 188962 242019 920404 1380606 X 1 5.00 1 0 X X 0 179738536 907937 99341 2058743 3958929 2497282 172230860 156417348 3261626 28172216 5673666 2438988 179738536 142227630 2409111 14706954 212146 1121692 1592509 156417348 182792983 1605315 -34819309 5360782 1990577 142227630 0.02800 0.81900 0.15300 0 0 5719639 5719639 237000 188502 48498 5768137 DIVERSIFIED PORTFOLIOS 66087984 F 66087984 ART COLLECTIONS 4491672 NET INVESTMENTS IN DIRECT FINANCING-TYPE LEASE 9355000 OTHER ASSETS 257963 14104635 CERTIFICATES OF PARTICIPATION 9355000 ADVANCES PAYABLE 4729443 REFUNDABLE ADVANCES & DEFERRED REVENUES 1339058 15423501 16090419 15824745 265674 -2541453 5313 -2536140 -2270466 16323104 -2541453 2601343 -30736 29154 16293950 333251 -536782 -203531 16090419 18593570 2601343 500733 3102076 15491494 333251 333251 15824745 DESCRIPTION OF HOW ORGANIZATION REPORTS CONSERVATION EASEMENTS: 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. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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 8 - OTHER ADJUSTMENTS: RECOVERY FOR UNCOLLECTIBLE PLEDGES RECEIVABLE 36,049. ACTUARIAL ADJUSTMENT ON CGAS -30,736. TOTAL TO SCHEDULE D, PART XI, LINE 8: 5,313. PART XII, LINE 2D - OTHER ADJUSTMENTS: ACTUARIAL ADJUSTMENT -30,736. PART XII, LINE 4B - OTHER ADJUSTMENTS: EVENT EXPENSE -534,487. COST OF GOODS SOLD -2,295. PART XIII, LINE 2D - OTHER ADJUSTMENTS: RECOVERY FOR UNCOLLECTIBLE PLEDGES RECEIVABLE -36,049. EVENT EXPENSES 534,487. COST OF GOODS SOLD 2,295. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 SEMINARS, CONFERENCES AND RESEARCH. 25894 NORTH AMERICA 0 0 SEMINARS, CONFERENCES AND RESEARCH. 4171 SOUTH AMERICA 0 0 SEMINARS, CONFERENCES AND RESEARCH. 11056 EAST ASIA AND THE PACIFIC 0 0 SEMINARS, CONFERENCES AND RESEARCH. 21784 0 0 0 0 0 0 62905 0 62905 1 0 1 1 1 0 X X 0 GRANDSTAND SPORTS 148 MADISON AVENUE SUITE 14 NEW YORK NY 10016 SILENT AUCTION 0 28533 12516 16017 28533 12516 16017 KEEP MEMORIES ALIVE WALK 213707 213186 521 1575 9087 50TH ANNIVERSARY GALA 511370 374555 136815 65182 146847 24940 73344 11 681409 333136 348273 2400 19431 97488 7680 86513 1406486 920877 485609 2400 86188 244335 32620 168944 534487 -48878 EXPLANATION OF FUNDRAISING PAYMENTS SCHEDULE G, PART I, LINE 2B, COLUMN (V) SILENT AUCTION, FUNDRAISER KEPT THE MONEY FOR MERCHANDISE PROVIDED. 1 FLORIDA ATLANTIC UNIVERSITY 777 GLADES ROAD BOCA RATON FL 33431 650385507 3307653 STUDENT SCHOLARSHIPS PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, 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 0 0 0 0 0 0 0 0 0 MJ SAUNDERS 0 345348 0 50000 0 0 0 19391 0 7309 0 422048 0 0 WILLIAM MCDANIEL 0 173125 0 0 0 0 0 6233 0 9611 0 188969 0 0 HOWARD SCHNELLENBERGER 0 430718 0 0 0 0 0 13365 0 12814 0 456897 0 0 RANDY TALBOT 0 261096 0 0 0 0 0 25995 0 13397 0 300488 0 0 PART I, LINE 1A THESE ITEMS ARE ALLOWED FOR THE UNIVERSITY PRESIDENT ONLY FOR BONA FIDE BUSINESS PURPOSES ONLY. X 3 75491 APPRAISAL X 74971 APPRAISAL X 2 180139 AVERAGE HIGH LOW VALUE X 1 1280000 APPRAISAL X 1 2250 FAIR MARKET VALUE X SOFTWARE 1 260000 FAIR MARKET VALUE X JEWELRY 1 7500 FAIR MARKET VALUE X MUSICAL EQUIPMENT 2 15000 FAIR MARKET VALUE X EQUIPMENT 2 9258 FAIR MARKET VALUE X OTHER GIFTS 37 140627 FAIR MARKET VALUE X SUPPLIES 1 4235 FAIR MARKET VALUE 0 1 0 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 EXECUTIVE DIRECTOR FOR THE FOUNDATION ALSO HOLDS THE TITLE OF VP FOR COMMUNITY ENGAGEMENT 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -2,541,453. RECOVERY FOR UNCOLLECTIBLE PLEDGES RECEIVABLE 36,049. ACTUARIAL ADJUSTMENT ON CGAS -30,736. TOTAL TO FORM 990, PART XI, LINE 5: -2,536,140. FORM 990, PART XIII, LINE 2C NO CHANGE FROM PRIOR YEAR. FLORIDA ATLANTIC UNIVERSITY 777 GLADES ROAD BOCA RATON FL 33431 650385507 PUBLIC UNIVERSITY FL 0 0 1 1 0 0 0 0 1 1 0 1 0 1 1 1 0 0 0 FLORIDA ATLANTIC UNIVERSITY B 3180315 CORP BOOKS IN ACCORDANCE W/GAAS FLORIDA ATLANTIC UNIVERSITY C 331939 CORP BOOKS IN ACCORDANCE W/GAAS FLORIDA ATLANTIC UNIVERSITY H 380842 CORP BOOKS IN ACCORDANCE W/GAAS FLORIDA ATLANTIC UNIVERSITY I 11642 CORP BOOKS IN ACCORDANCE W/GAAS FLORIDA ATLANTIC UNIVERSITY K CORP BOOKS IN ACCORDANCE W/GAAS FLORIDA ATLANTIC UNIVERSITY M CORP BOOKS IN ACCORDANCE W/GAAS FLORIDA ATLANTIC UNIVERSITY O 3812506 CORP BOOKS IN ACCORDANCE W/GAAS FLORIDA ATLANTIC UNIVERSITY N 4526762 CORP BOOKS IN ACCORDANCE W/GAAS SCHEDULE R, PART V, LINE 8 AMOUNT REPORTED REPRESENTS REIMBURSEMENT FOR EMPLOYEES PAID BY COMMON PAYMASTER.