2011-08-11T11:20:18-05:00 2010-12-31 MOUNTJOY CHILTON MEDLEY LLP 462 S FOURTH ST 2000 MEIDINGER TOWE LOUISVILLE KY 402023445 990 2010-01-01 611251555 WESTERN KENTUCKY UNIVERSITY FOUNDATION WEST 2707456208 1906 COLLEGE HEIGHTS BLVD NO 8094 BOWLING GREEN KY 42101 KATHRYN COSTELLO 2707456421 2011-08-08 1 RANDY E DAVIS 5027491900 2010 2016-02-24 21:20:13Z WKU FOUNDATION KATHRYN COSTELLO 1906 COLLEGE HEIGHTS BLVD NO 8094 BOWLING GREEN KY 42101 27221607 0 X WWW.WKUFOUNDATION.ORG X 1993 KY PROGRAM SERVICES BENEFITING WKU FACULTY, STAFF, AND STUDENTS. APPROXIMATELY 20,000 SERVED IN 2010. 25 24 0 100 0 0 8479553 8424552 0 0 1224105 2537618 188608 186300 9892266 11148470 11423773 3053397 0 0 0 0 0 0 21992 3323156 4479660 14746929 7533057 -4854663 3615413 81929777 88357082 22402139 23915354 59527638 64441728 X THE WKU FOUNDATION EXISTS FOR THE BENEFIT OF WKU. TO ACCOMPLISH ITS MISSION, THE FOUNDATION PROVIDES THOSE SERVICES NORMALLY ASSOCIATED WITH A UNIVERSITY RELATED FOUNDATION, INCLUDING BUT NOT LIMITED TO VOLUNTEER LEADERSHIP, FUND SOLICITATION, GIFT ACCEPTANCE AND ACKNOWLEDGEMENT, AND ASSET MANAGEMENT SERVICES. 0 0 3570920 3032900 186300 PROGRAM SERVICES BENEFITTING THE FACULTY AND STUDENTS OF WESTERN KENTUCKY UNIVERSITY. APPROXIMATELY 20,000 PEOPLE WERE SERVED DURING 2010. 740860 20497 FUNDING FOR PUBLIC SERVICE AREAS OF WESTERN KENTUCKY UNIVERSITY (PUBLIC BROADCASTING, KENTUCKY MUSEUM, CLINICAL EDUCATION COMPLEX) TO BENEFIT RESIDENTS OF SOUTH CENTRAL KENTUCKY. APPROXIMATELY 200,000 PEOPLE WERE SERVED DURING 2010. 1569000 FUNDING FOR THE CONSTRUCTION AND EQUIPMENT COSTS ASSOCIATED WITH THE RENOVATION OF THE HOUCHENS SMITH FOOTBALL STADIUM, BASEBALL CLUBHOUSE AND THE CONSTRUCTION OF NEW CHANDLER CHAPEL ON WKU'S MAIN CAMPUS. 5880780 1 1 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 117 0 1 0 0 0 0 0 0 0 0 0 0 0 X 25 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 KY ND CA NH OR OH NY AR SC MA RI IL NM MD MI NJ MN WI AK AZ ME OK FL MS WA X X PAULA JARBOE 2707456421 1906 COLLEGE HEIGHTS BLVD NO 8094 BOWLING GREEN KY 42101 RICHARD FROCKT 2.00 X X 0 0 0 DAVID WISEMAN 2.00 X X 0 0 0 ALEX DOWNING 2.00 X 0 125998 22716 BELLE HUNT 2.00 X 0 0 0 CRAIG BROWNING 2.00 X 0 0 0 DON GREULICH 2.00 X 0 0 0 DR BIFF KUMMER 2.00 X 0 0 0 GEORGE NICHOLS 2.00 X 0 0 0 MIKE LYNCH 2.00 X 0 0 0 JAMES MARSHALL 2.00 X 0 0 0 JAMES NEEL JOHNSON 2.00 X 0 0 0 ELIZABETH MCKINNEY 2.00 X 0 0 0 KIM MENKE 2.00 X 0 0 0 PETE GRITTON 2.00 X 0 0 0 RANDY SCHUMAKER 2.00 X 0 0 0 ROBERT P RAMSEY 2.00 X 0 0 0 SUZANNE VITALE 2.00 X 0 0 0 CHARLES ANDERSON 2.00 X 0 0 0 VALERIE C BROWN 2.00 X 0 0 0 DB BURCHETT 2.00 X 0 0 0 HAL SCHMITT 2.00 X 0 0 0 JIM MEYER 2.00 X 0 0 0 TOM PENNINGTON 2.00 X 0 0 0 DAN RENSHAW 2.00 X 0 0 0 TONI RIZZO 2.00 X 0 0 0 PAULA COCKREL JARBOE 2.00 X 0 72479 21638 MARCIA BROWN 2.00 X 0 0 0 THOMAS HILES 40.00 X 0 132734 21504 0 331211 65858 0 0 1 0 MESSER CONSTRUCTION 5158 FISHWICK DR CINCINNATI OH 45216 CONSTRUCTION 408413 1 96019 8328533 832789 8424552 2175669 2175669 186300 186300 186300 186300 16435086 16073137 361949 361949 361949 11148470 186300 0 2537618 2307487 2307487 745910 745910 4223 2173 2050 35461 35461 128801 128801 250225 173568 74889 1768 17500 17500 167131 129073 35150 2908 8961 8961 12551 12551 313964 313268 696 396563 371069 13738 11756 104527 104527 26870 26870 REIMBURSED SALARIES 1313022 924046 388976 UNCOLLECTIBLE PLEDGES 835449 835449 MISCELLANEOUS 298825 297361 1464 MEMBERSHIPS & DUES 258629 258629 SPEAKER FEES 226853 226853 80105 76595 3510 7533057 5880780 1630285 21992 6989 2375 7172103 3143237 14900125 14724906 1450073 71426 3800000 1986893 80744 91438 35046582 47183073 2711770 2384204 16761391 18769530 81929777 88357082 2766574 12000 16761391 17500625 2815417 3298568 58757 44323 0 3059838 22402139 23915354 X 13215471 14371636 13268054 14893369 33044113 35176723 59527638 64441728 81929777 88357082 X 3615413 1298677 X X 0 1 1 X 0 X 9330807 15280249 7855286 8479553 8424533 49370428 9330807 15280249 7855286 8479553 8424533 49370428 49370428 1819553 2158947 2447838 1653009 2361969 10441316 108938 -3746 685 208 106085 59917829 0.82400 0.84140 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 42447556 1718760 883960 534535 44515741 41530474 3181142 -883268 1380792 42447556 39384699 2471259 31199 356683 41530474 0.21000 0.79000 0.00000 0 0 0 ASSETS HELD FOR OTHERS 17500625 DUE FROM THE WKU REAL ESTATE CORPORATION 1268905 18769530 DEFERRED GIFT LIABILITIES 2555825 DUE TO THE HILLTOPPER ATHLETIC FOUNDATION 504013 3059838 11148470 7533057 3615413 2507761 -1209084 1298677 4914090 13339627 2507761 -316604 2191157 11148470 0 11148470 7533057 0 7533057 0 7533057 PART IV, LINE 2B: ASSETS HELD FOR OTHERS REPRESENT RESOURCES IN THE POSSESSION OF, BUT NOT UNDER THE CONTROL OF, THE FOUNDATION. AT DECEMBER 31, 2010, ASSETS HELD FOR OTHERS CONSIST OF THE FOLLOWING: WKU - REGIONAL UNIVERSITY EXCELLENCE TRUST FUND: $ 12,820,687 WKU - SELF-INSURANCE PROGRAM FUNDS: 3,436,146 RESEARCH FOUNDATION - QUASI-ENDOWMENT FUNDS: 866,261 WKUAA AND HAF - CERTAIN CASH AND INVESTMENT FUNDS: 377,531 TOTAL ASSETS HELD FOR ANOTHER: $17,500,625 ACCORDINGLY, THE BALANCE SHEET REFLECTS A LIABILITY FOR ASSETS HELD FOR OTHERS IN THE AMOUNT OF $17,500,625 AS OF DECEMBER 31, 2010. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ORGANIZATION INTENDS TO USE THE ENDOWMENT FUNDS FOR SUPPORT OF WESTERN KENTUCKY UNIVERSITY. PART XI, LINE 8 - OTHER ADJUSTMENTS: NET ACTUARIAL LOSS FROM DEFERRED GIFT LIABILITIES -316,604. PRIOR PERIOD ADJUSTMENT -892,480. PART XII, LINE 2D - OTHER ADJUSTMENTS: NEW ACTUARIAL LOSS FROM DEFERRED GIFT LIABILITIES -316,604. 1 WESTERN KENTUCKY UNIVERSITY 1906 COLLEGE HEIGHTS BLVD BOWLING GREEN KY 42101 616055628 GOVERNMENT ENTITY 2206972 TO PROVIDE CULTURAL SPEAKERS AND FILMS ON CAMPUS WESTERN KENTUCKY UNIVERSITY ALUMNI ASSOCIATION 1906 COLLEGE HEIGHTS BLVD BOWLING GREEN KY 42101 611288130 501(C)(3) 11200 TO SUPPORT ALUMNI ACTIVITIES ON CAMPUS WORLD GAMES 2010 FOUNDATION 2010 WORLD GAMES WAY LEXINGTON KY 40511 203918405 501(C)(3) 14000 SPONSORSHIP OF WORLD GAMES IN KENTUCKY COLLEGE HEIGHTS FOUNDATION 1906 COLLEGE HEIGHTS BLVD BOWLING GREEN KY 42101 610459494 501(C)(3) 6497 TO PROVIDE SUPPORT OF SCHOLARSHIPS AND ATHLETIC ACTIVITIES HILLTOPPER ATHLETIC FOUNDATION INC 1906 COLLEGE HEIGHTS BLVD BOWLING GREEN KY 42101 610656420 501(C)(3) 68818 TO PROVIDE SUPPORT OF CAMPUS ATHLETIC FACILITIES 5 SCHOLARSHIPS/AWARDS 453 745910 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE ORGANIZATION PAYS GRANTS TO OTHER 501(C)(3) ORGANIZATIONS IN THE UNITED STATES AND MONITORS THE USE BY REVIEWING REQUESTS FOR HOW THE MONEY WILL BE USED AND FOLLOWING UP WITH THESE ORGANIZATIONS. 0 0 0 0 0 0 0 0 0 THOMAS HILES 0 103425 0 0 0 29309 0 18361 0 3143 0 154238 0 0 SUPPLEMENTAL INFORMATION PART III THE ORGANIZATION DOES NOT PAY ANY COMPENSATION. THE RELATED ORGANIZATION USES A WRITTEN EMPLOYMENT CONTRACT AS WELL AS OBTAINING APPROVAL FROM THE BOARD. X 1 1000 FMV X 34571 FMV X 21 19323 FMV X EQUIPMENT 14 459155 FMV X SUPPLIES & MATERIALS 39 318740 FMV 3 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PREPARED AFTER THE BOARD REVIEWS AND APPROVES THE AUDIT. ONCE THE FORM 990 IS PREPARED, THE CFO AND EXECUTIVE DIRECTOR REVIEW IT BEFORE IT IS PROVIDED TO THE BOARD AND FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C EACH BOARD AND STAFF MEMBER IS REQUIRED TO ANNUALLY UPDATE THEIR INFORMATION IN THE CONFLICT OF INTEREST STATEMENT. THE BOARD SECRETARY REVIEWS EACH FORM SUBMITTED AND BRINGS ANY ITEMS LISTED TO THE PRESIDENT'S ATTENTION. THE PRESIDENT THEN REVIEWS EACH ITEM WITH THE BOARD MEMBER AND BRINGS ANY QUESTIONABLE SITUATIONS TO THE BOARD'S ATTENTION. FORM 990, PART VI, SECTION B, LINE 15: THE ORGANIZATION DOES NOT COMPENSATE ANY OFFICERS, DIRECTORS OR KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S AUDIT RESULTS, FORM 990, BY-LAWS, ARTICLES OF INCORPORATION, AND POLICIES ARE AVAILABLE FOR PUBLIC INSPECTION ON THEIR WEBSITE. THE CONFLICT OF INTEREST POLICY IS PROVIDED ON AN "AS NEEDED" BASIS. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 2,507,761. NET ACTUARIAL LOSS FROM DEFERRED GIFT LIABILITIES -316,604. PRIOR PERIOD ADJUSTMENT -892,480. TOTAL TO FORM 990, PART XI, LINE 5: 1,298,677. FORM 990, PART XII, LINE 2C: A DRAFT OF THE FINANCIAL STATEMENTS IS PRESENTED BY THE INDEPENDENT AUDITORS TO THE ENTIRE BOARD FOR APPROVAL. A FORMAL REQUEST FOR PROPOSAL PROCESS IS FOLLOWED WHEN SELECTING AN INDEPENDENT ACCOUNTANT.