2026-05-05T13:35:02-05:00 2025-06-30 135565207 KPMG LLP 60 SOUTH STREET TWO FINANCIAL CENTER BOSTON MA 02111 990 2024-07-01 451556038 UNIVERSITY OF VERMONT AND STATE AGRICULTURAL COLLEGE FOUNDATION INC UNIV 8026568600 411 MAIN STREET BURLINGTON VT 05401 MARK METIVIER VP & CFO 8026563945 2026-05-04 1 0 STEPHANIE LONCZAK P01880207 6179881000 2026-04-18 2024 2025-03-06 01:10:19Z KATHLEEN KELLEHER 411 MAIN STREET BURLINGTON VT 05401 102298484 0 X WWW.UVMFOUNDATION.ORG X 2011 VT THE MISSION OF THE UVM FOUNDATION IS TO SECURE AND MANAGE PRIVATE SUPPORT FOR THE BENEFIT OF THE UNIVERSITY OF VERMONT. 26 25 96 6387 1998 0 34813426 42509503 12514074 12656670 15034578 20599113 6775 1998 62368853 75767284 23750316 30175244 0 0 12245137 12401516 0 0 10984969 3791965 3544188 39787418 46120948 22581435 29646336 379533908 419451004 13892000 14214254 365641908 405236750 THE MISSION OF THE UVM FOUNDATION IS TO SECURE AND MANAGE PRIVATE SUPPORT FOR THE BENEFIT OF THE UNIVERSITY OF VERMONT. 0 0 30175244 30175244 12621442 THE FOUNDATION'S PRIMARY FUNCTION IS TO RAISE, RECEIVE, AND MANAGE FUNDS FOR SCHOLARSHIPS, PROFESSORSHIPS, AND FACILITIES AND OTHER SUPPORT FOR THE BENEFIT OF THE UNIVERSITY OF VERMONT AND STATE AGRICULTURAL COLLEGE AND BY OTHERWISE PERFORMING SUPPORT FUNCTIONS THAT CARRY OUT ITS CHARITABLE, SCIENTIFIC, EDUCATIONAL, OR OTHER EXEMPT PURPOSES. 1646741 0 35228 ALUMNI ARE OFFERED OPPORTUNITIES TO ATTEND SOCIAL AND EDUCATIONAL EVENTS FOR AN ADMISSION FEE THAT COVERS, AT THE MOST, DIRECT EXPENSES, BUT NEVER COVERS ALL EXPENSES. EVENTS INCLUDE ALUMNI REUNIONS, HOMECOMINGS, BASEBALL GAMES, TENNIS MATCHES, DANCES, ETC. 31821985 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 21 0 1 96 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 26 25 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA KY MD MA MI MN ND NH NJ NY OR SC UT WI X X MARK W METIVIER 8026568600 411 MAIN STREET BURLINGTON VT 05401 MONICA DELISA DIRECTOR/EX OFFICIO/FNDN PRES 43.00 X X 407173 0 64799 HOWARD AVERILL DIRECTOR 1.00 X 0 0 0 CYNTHIA BARNHART BEG 325 DIRECTOR/EX OFFICIO 1.00 X 0 0 0 LYDIA BATES DIRECTOR 1.00 X 0 0 0 GEORGE BEITZEL BEG 724 DIRECTOR 1.00 X 0 0 0 ROBERT P BRENNAN JR DIRECTOR/VICE CHAIR 2.00 X X 0 0 0 ERIC BURT BEG 724 DIRECTOR 1.00 X 0 0 0 MICHELE COHEN END 625 DIRECTOR 1.00 X 0 0 0 ROGER CRANDALL DIRECTOR 1.00 X 0 0 0 SURESH GARIMELLA END 924 DIRECTOR/EX OFFICIO/UNIV PRES 2.00 X 0 0 0 VITO IMBASCIANI END 625 DIRECTOR 1.00 X 0 0 0 KATHARINE LAUD DIRECTOR/EX OFFICIO 1.00 X 0 0 0 THOMAS LEAVITT III DIRECTOR/TREASURER 2.00 X X 0 0 0 RON LUMBRA END 325 DIRECTOR/EX OFFICIO 1.00 X 0 0 0 DEBORAH MCANENY END 625 DIRECTOR/CHAIR 3.00 X X 0 0 0 DONALD H MCCREE III DIRECTOR 1.00 X 0 0 0 KAREN NYSTROM MEYER BEG 724 DIRECTOR 1.00 X 0 0 0 KRISTINA PISANELLI BEG 724 DIRECTOR 1.00 X 0 0 0 ALICE PLANTE DIRECTOR 1.00 X 0 0 0 ROBERT PLANTE DIRECTOR 1.00 X 0 0 0 PATRICIA PRELOCK BEG 1024 DIRECTOR/EX OFFICIO/UNIV PRES 2.00 X 0 0 0 H DAVID REINES BEG 724 DIRECTOR 1.00 X 0 0 0 RAY ROBERTS END 1224 DIRECTOR 1.00 X 0 0 0 MARA SAULE DIRECTOR 1.00 X 0 0 0 DIANE L SEDER FNDN CHAIR EMERITUS 1.00 X X 0 0 0 SCOTT SEGAL BEG 724 DIRECTOR/SECRETARY 2.00 X X 0 0 0 LISA SNOW BEG 724 DIRECTOR 1.00 X 0 0 0 CATHY TREMBLAY END 625 DIRECTOR/EX OFFICIO 1.00 X 0 0 0 CYMA ZARGHAMI END 625 DIRECTOR 1.00 X 0 0 0 ANDREW FLEWELLING VP & CHIEF PEOPLE OFFICER 40.00 X 253247 0 59860 MARK METIVIER VP & CFO 40.00 X 265287 0 42281 KATHLEEN DESJARDINS VP & CHIEF INFORMATION OFFICER 40.00 X 254364 0 52920 JOHN HILTON HONORARY FNDN CHAIR EMERITUS 1.00 X 0 0 0 JAMES R KELLER HONORARY FNDN CHAIR EMERITUS 1.00 X 0 0 0 KATHLEEN KELLEHER VP & CHIEF DEVELOPMENT OFFICER 40.00 X 321082 0 59591 JOSEPH CAPORALE ASSISTANT VP DEV/CORPS & FNDNS 40.00 X 206348 0 44800 ALAN RYEA ASSISTANT VP OF DEVELOPMENT 40.00 X 188659 0 34739 CHRISTOPHER BERNIER ASSISTANT VP OF DEVELOPMENT 40.00 X 184939 0 53376 MARK MORRISON ASSISTANT VP OF DEVELOPMENT 40.00 X 179897 0 34952 DANIELLE ALTENBURG DIRECTOR OF PRINCIPAL GIFTS 40.00 X 159612 0 19475 2420608 0 466793 29 0 1 0 UNIVERSITY OF VERMONT 85 SOUTH PROSPECT STREET BURLINGTON VT 05401 PRINT, TUITION, REPA 502176 UNIVERSITY OF VERMONT MEDICAL CENTER PO BOX 1902 BURLINGTON VT 05402 LEASED EMPLOYEES 312546 ELLUCIAN COMPANY LP 2003 EDMUND HALLEY DRIVE STE 500 RESTON VA 20191 SOFTWARE 292455 GIVECAMPUS 99 M ST SE STE 233 WASHINGTON DC 20003 SOFTWARE 195796 MARKETING COMMUNICATION RESOURCE INC 4800 E 345TH STEET WILLOUGHBY OH 44094 PRINT & MAIL SERVICE 142709 5 42509503 2268857 42509503 SERVICE AGREEMENT - UNI SUPPORT 900099 12621442 12621442 ALUMNI ACTIVITIES 900099 35228 35228 12656670 15356859 15356859 1998 1998 31773454 26531200 5242254 5242254 5242254 75767284 12656670 1998 20599113 30175244 30175244 1791105 50184 885765 855156 7493989 717143 778263 5998583 711085 66171 75198 569716 1757326 161884 214579 1380863 648011 53840 109277 484894 123765 123765 24567 24567 120944 120944 11010 11010 146041 79319 20214 46508 841192 54226 202478 584488 619723 116928 138950 363845 48097 11189 29822 7086 479982 35736 65140 379106 570755 196986 134844 238925 363071 103642 171441 87988 207839 207839 MISCELLANEOUS EXPENSES -12798 -507 -102 -12189 46120948 31821985 3313994 10984969 3852257 1940868 31231297 51748698 13225805 11884337 684793 601069 0 0 0 0 0 0 0 0 723730 693281 23915355 3032281 22846146 20883074 55772430 81692085 251068443 249933362 0 0 0 0 129007 74230 379533908 419451004 9894307 10439018 0 0 0 0 0 0 0 0 0 0 3997693 3775236 0 0 13892000 14214254 X 19774837 23201618 345867071 382035132 365641908 405236750 379533908 419451004 X 29646336 10321525 -373019 X 0 1 X 1 0 X 92192979 55633292 38006368 34798426 42509503 263140568 92192979 55633292 38006368 34798426 42509503 263140568 59738839 203401729 1743447 2244623 12601800 14529732 15356859 46476461 250 250 309617279 58041204 0.65690 0.66860 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING EVENT MISC - 2022 AMOUNT: $ 250. PART II, SECTION A, LINE 1: THE FOUNDATION ADJUSTS THE AMOUNT OF CONTRIBUTIONS REPORTED FOR EACH YEAR AS UNCOLLECTIBLE PLEDGES ARE WRITTEN OFF IN SUBSEQUENT YEARS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 280044971 17918556 25849674 2052385 9393804 312367012 252893243 12567197 25117954 1840425 8692998 280044971 236128454 18723478 7343895 1581347 7721237 252893243 169355523 84869675 -12640402 1277160 4179182 236128454 122990847 18999923 33278313 1365994 4299320 248246 169355523 0.03390 0.95090 0.01520 1 1 1 14300000 14300000 9187992 2669571 6518421 305420 294963 10457 121943 67747 54196 20883074 PARTNERSHIPS 7720000 F INVESTMENTS IN UVM POOL 240222758 F PARTNERSHIPS 50 C BENE INT HELD BY OTHERS 1851095 F CRYPTO CURRENCY 125298 F OTHER INVESTMENTS 14161 F 249933362 X 85682147 10321525 -406662 9914863 75767284 0 75767284 46087305 0 46087305 33643 33643 46120948 PART V, LINE 4: THE FOUNDATION'S ENDOWMENT IS A CONSOLIDATED POOL OF ENDOWMENTS BENEFITTING THE UNIVERSITY OF VERMONT, BASED ON DONOR RESTRICTIONS OR BOARD DESIGNATIONS. EACH ENDOWMENT SUPPORTS A PURPOSE AT UVM, SUCH AS SCHOLARSHIPS (19%), PROFESSORSHIPS (36%) OR OTHER ACADEMIC AND CAMPUS PROGRAMS (45%). THE BOARD-APPROVED SPENDING POLICY PROVIDES A STABLE AND UNIFORM FUNDING STREAM FOR THESE PURPOSES. THE BOARD MONITORS INVESTMENT PERFORMANCE AND INFLATION TO MAXIMIZE ANNUAL SPENDING DISTRIBUTIONS TO UVM WHILE PRESERVING PURCHASING POWER IN PERPETUITY IN ACCORDANCE WITH DONOR AGREEMENTS AND BOARD RESOLUTIONS. PART X, LINE 2: UVM FOUNDATION GENERALLY DOES NOT PROVIDE FOR INCOME TAXES BECAUSE IT IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ASC 740, INCOME TAXES, PERMITS AN ENTITY TO RECOGNIZE THE BENEFIT AND REQUIRES ACCRUAL OF AN UNCERTAIN TAX POSITION ONLY WHEN THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED IN THE EVENT OF EXAMINATION BY TAX AUTHORITIES. IN EVALUATING WHETHER A TAX POSITION HAS MET THE RECOGNITION THRESHOLD, UVM FOUNDATION MUST PRESUME THAT THE POSITION WILL BE EXAMINED BY THE APPROPRIATE TAXING AUTHORITY THAT HAS FULL KNOWLEDGE OF ALL RELEVANT INFORMATION. ASC 740 ALSO PROVIDES GUIDANCE ON THE RECOGNITION, MEASUREMENT, AND CLASSIFICATION OF INCOME TAX UNCERTAINTIES, ALONG WITH ANY RELATED INTEREST OR PENALTIES. TAX POSITIONS DEEMED TO MEET THE MORE LIKELY THAN NOT THRESHOLD ARE RECORDED AS A TAX EXPENSE IN THE CURRENT YEAR. UVM FOUNDATION HAS ANALYZED ALL OPEN TAX YEARS, DEFINED BY THE STATUTES OF LIMITATIONS FOR ALL MAJOR JURISDICTIONS. OPEN TAX YEARS ARE THOSE THAT ARE OPEN FOR EXAM BY TAXING AUTHORITIES. MAJOR JURISDICTIONS FOR UVM FOUNDATION INCLUDE FEDERAL AND THE STATE OF VERMONT. AS OF JUNE 30, 2025, OPEN FEDERAL AND VERMONT TAX YEARS FOR UVM FOUNDATION INCLUDE TAX YEARS ENDED JUNE 30, 2022, 2023 AND 2024. UVM FOUNDATION HAS NO EXAMINATIONS IN PROGRESS. UVM FOUNDATION BELIEVES THAT IT HAS NO SIGNIFICANT UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: NET ASSET TRANSFER TO UVM -2,031,813. NET ASSET TRANSFER FROM UVM 1,821,911. INV MGMT FEES -11,010. CHANGE IN ALLOWANCE CONT. REC. 138,180. CHANGE IN DISCOUNT OF CONT. REC. 146,000. UNCOLLECTIBLE PLEDGES -392,520. INVESTMENT ACCOUNTING -21,000. INVESTMENT INSURANCE -1,633. CHANGE IN VALUE OF DERIVATIVES -54,777. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES 11,010. INVESTMENT ACCOUNTING 21,000. INVESTMENT INSURANCE 1,633. PART V, LINE 2 THE FOUNDATION HAS ADOPTED FASB ASU 2016-14, PRESENTATION OF THE FINANCIAL STATEMENTS OF NOT-FOR-PROFIT ENTITIES, AND THE JUNE 30, 2025 AUDITED FINANCIAL STATEMENTS CLASSIFY NET ASSETS AS EITHER NET ASSETS WITHOUT DONOR RESTRICTIONS OR NET ASSETS WITH DONOR RESTRICTIONS. FOR PURPOSES OF PART V, LINE 2, THE FOUNDATION HAS REPORTED ITS YEAR END ENDOWMENT BALANCE WITHOUT DONOR RESTRICTIONS AS QUASI-ENDOWMENT AND ITS YEAR END BALANCE WITH DONOR RESTRICTIONS AS PERMANENT ENDOWMENT AND TERM ENDOWMENT. 1 UNIVERSITY OF VERMONT & STATE AGRICULTURAL COLLEGE 85 SOUTH PROSPECT STREET BURLINGTON VT 05401 030179440 501)(C)(3) 29048942 476946 FMV SEE PART IV SEE PART IV HILLEL AT THE UNIVERSITY OF VERMONT 439 COLLEGE STREET BURLINGTON VT 05401 810554021 501)(C)(3) 424353 0 SEE PART IV CAMPUS STORAGE SOLUTIONS LLC 40 MT PRITCHARD LANE ST GEORGE VT 05495 991557111 225000 0 SEE PART IV 2 1 PART I, LINE 2: THE FOUNDATION OPERATES ON A REIMBURSEMENT BASIS AND REQUIRES A REPORT OF EXPENSES ON A QUARTERLY BASIS FOR REVIEW BY THE CONTROLLER FOR APPROPRIATENESS PRIOR TO DISTRIBUTION OF FUNDS. SCHEDULE I, PART II, LINE 1(G), ROW 1 NONCASH ASSISTANCE INCLUDES CONTRIBUTIONS OF EQUIPMENT AND LIVESTOCK AND VARIOUS SMALL GIFTS OF ART, FOOD, AND COLLECTIBLES. SCHEDULE I, PART II, LINE 1(H), ROW 1 PURPOSES OF THE GRANTS AND ASSISTANCE INCLUDE: UNIVERSITY EDUCATIONAL DEPARTMENT USE; SCHOLARSHIPS, FELLOWSHIPS, AND AWARDS; PROFESSORSHIPS, RESEARCH, AND FACULTY SUPPORT; CAPITAL CONSTRUCTION; AND, OTHER ACADEMIC AND STUDENT SUPPORT. SCHEDULE I, PART II, LINE 1(H), ROW 2 THE PURPOSE OF THE GRANTS AND ASSISTANCE IS TO PROVIDE PROGRAMMING AND SERVICES TO ENRICH THE LIVES OF THE UNIVERSITY COMMUNITY AT LARGE INCLUDING BUT NOT LIMITED TO JEWISH UNDERGRADUATE AND GRADUATE STUDENTS. SCHEDULE I, PART II, LINE 1(H), ROW 3 THE PURPOSE OF THE GRANT IS THE AWARD TO THE WINNER OF UNIVERSITY OF VERMONT STUDENT ENTREPRENEURIAL COMPETITION TO AN UNDERGRADUATE STUDENT-OWNED BUSINESS. X 1 1 X X 0 0 0 0 0 0 0 1 0 MONICA DELISA DIRECTOR/EX OFFICIO/FNDN PRES 388199 0 0 0 18974 0 34500 0 30299 0 471972 0 0 0 KATHLEEN KELLEHER VP & CHIEF DEVELOPMENT OFFICER 299082 0 22000 0 0 0 35152 0 24439 0 380673 0 0 0 ANDREW FLEWELLING VP & CHIEF PEOPLE OFFICER 224778 0 0 0 28469 0 25742 0 34118 0 313107 0 0 0 MARK METIVIER VP & CFO 240287 0 25000 0 0 0 29300 0 12981 0 307568 0 0 0 KATHLEEN DESJARDINS VP & CHIEF INFORMATION OFFICER 254364 0 0 0 0 0 28481 0 24439 0 307284 0 0 0 JOSEPH CAPORALE ASSISTANT VP DEV/CORPS & FNDNS 190679 0 4900 0 10769 0 20282 0 24518 0 251148 0 0 0 CHRISTOPHER BERNIER ASSISTANT VP OF DEVELOPMENT 180139 0 4800 0 0 0 19258 0 34118 0 238315 0 0 0 ALAN RYEA ASSISTANT VP OF DEVELOPMENT 183859 0 4800 0 0 0 21758 0 12981 0 223398 0 0 0 MARK MORRISON ASSISTANT VP OF DEVELOPMENT 170097 0 9800 0 0 0 18405 0 16547 0 214849 0 0 0 DANIELLE ALTENBURG DIRECTOR OF PRINCIPAL GIFTS 155512 0 4100 0 0 0 15961 0 3514 0 179087 0 0 0 PART I, LINE 1A TWO DIRECTORS ALONG WITH STAFF AND VOLUNTEERS UTILIZED CHARTER TRAVEL ONCE DURING THE YEAR. PART I, LINE 7 ONE OFFICER, ONE KEY EMPLOYEE, AND FIVE HIGHEST COMPENSATED EMPLOYEES LISTED ON FORM 990, PART VII, SECTION A, LINE A RECEIVED A ONE-TIME BONUS AS REPORTED IN PART II, COLUMN B(II). X 10 412520 FMV X 78 1788437 FMV X 10 13232 FMV X LIVESTOCK 1 25000 FMV X MISC 6 16668 FMV X EQUIPMENT 1 13000 FMV 2 0 1 0 PART I, COLUMN (B): PART I, COLUMN B IS REPORTING THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 2 DIRECTORS ROBERT PLANTE AND ALICE PLANTE HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS WERE AMENDED ON JUNE 26, 2025 TO INCREASE THE MAXIMUM NUMBER OF MEMBERS OF THE BOARD OF DIRECTORS FROM 29 TO 33. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 HAS BEEN REVIEWED BY THE OFFICERS OF THE FOUNDATION AND A COMPLETE COPY OF THE FEDERAL 990 HAS BEEN PROVIDED TO EACH MEMBER OF THE BOARD OF DIRECTORS BEFORE FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS APPROVED A CONFLICT OF INTEREST POLICY AND THE OVERVIEW ADDRESSES THE QUESTIONS IN PART VI: THE GOALS OF THE POLICY ARE TO IDENTIFY WHEN AND HOW CONFLICTS MAY ARISE, PROMOTE A PROCESS FOR EACH DIRECTOR TO DISCLOSE CONFLICTS, AND ELABORATE HOW THE BOARD CAN MANAGE CONFLICTS OF INTEREST. THERE IS NOTHING INHERENTLY WRONG WITH A CONFLICT SO LONG AS THE CONFLICT IS DISCLOSED AND MANAGED APPROPRIATELY. - A CONFLICT EXISTS WHEN THERE IS A APPARENT OR ACTUAL DIVERGENCE BETWEEN A DIRECTOR'S PRIVATE INTERESTS AND HIS/HER FIDUCIARY DUTY. THIS INCLUDES TIMES WHEN RELEVANT MATERIAL FACTS AFFECT A DIRECTOR, A MEMBER OF HIS/HER FAMILY, OR AN AFFILIATE. - IT IS NOT A CONFLICT TO SERVE IN LEADERSHIP CAPACITIES FOR OTHER NONPROFIT ORGANIZATIONS, UNIVERSITY/COLLEGE FOUNDATIONS, OR INSTITUTIONS OF HIGHER EDUCATION. - IT IS NOT POSSIBLE FOR OUR POLICY TO INCLUDE AN ALL-INCLUSIVE LIST OF SITUATIONS GIVING RISE TO A CONFLICT OF INTEREST. THE POLICY DOES GIVE EXAMPLES OF SITUATIONS PRESENTING POTENTIAL, ACTUAL OR APPARENT CONFLICTS: (I) COMMERCIAL TRANSACTIONS BETWEEN DIRECTOR AND THE FOUNDATION (II) CONFIDENTIAL, PROPRIETARY OR PRIVILEGED INFORMATION NOT TO BE SHARED WITH THE PUBLIC (III) DIVERTING BUSINESS OPPORTUNITIES AWAY FROM THE FOUNDATION FOR PRIVATE GAIN (IV) DIRECTORS CANNOT HIRE, SUPERVISE OR EVALUATE IMMEDIATE FAMILY MEMBERS OR AFFILIATES (V) DIRECTORS SHALL NOT ACCEPT COMPENSATION, GIFTS OR OTHER ITEMS IN EXCHANGE FOR INFLUENCING FOUNDATION OPERATIONS AND ACTIVITIES (VI) DIRECTORS CAN ACCEPT FROM THE FOUNDATION MODEST VALUE GIFTS OR OTHER ITEMS IN CONNECTION WITH BUSINESS AND SERVICE ON THE BOARD OF DIRECTORS (VII) DIRECTORS CAN EMPLOY FOUNDATION ADMINISTRATION FOR PRIVATE CONSULTING WITH PRIOR APPROVAL - UVM TRUSTEES AND EMPLOYEES WHO SERVE AS DIRECTORS ARE SUBJECT TO THE POLICY. THEY ARE NOT AUTOMATICALLY DISQUALIFIED FROM PARTICIPATING IN FOUNDATION BOARD DISCUSSIONS AND BUSINESS. RARE OCCASIONS MAY EXIST WHEN THEY WILL BE DISQUALIFIED FROM VOTING ON SPECIFIC MATTERS. -PROTOCOL (I) DIRECTORS ANNUALLY FILE CONFLICTS DISCLOSURE FORMS BY MAY 30 (II) PRIOR TO COMMITTEE OR FULL BOARD MEETINGS, CONFLICTS MUST BE DISCLOSED AND MANAGED. THEY WILL BE EVALUATED BY PRESIDENT & CEO, COMMITTEE/BOARD CHAIR, AND THE AUDIT COMMITTEE. (III) DEPENDING UPON THE CONFLICT, DIRECTOR MAY OR MAY NOT BE ABLE PARTICIPATE IN THE DISCUSSION AND/OR VOTE ON AGENDA ITEM RELATED TO THE CONFLICT. (IV) IF NECESSARY, WE CAN REQUEST THE OPINION OF FOUNDATION LEGAL COUNSEL. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE SHALL ALSO SERVE AS THE COMPENSATION COMMITTEE, CHARGED WITH PERIODICALLY AND NO LESS THAN ONCE ANNUALLY REVIEWING AND APPROVING, FOLLOWING RECOMMENDATIONS FROM THE PRESIDENT AND CHIEF EXECUTIVE OFFICER, THE COMPENSATION AND BENEFITS THE FOUNDATION WILL PROVIDE TO ITS CORPORATE OFFICERS (WITH THE PRESIDENT AND CHIEF EXECUTIVE OFFICER RECUSING HIM OR HERSELF WITH RESPECT TO ANY DELIBERATIONS OR DECISIONS REGARDING HIS OR HER COMPENSATION). THE BOARD OF DIRECTORS HAS DELEGATED THE HIRING DECISION FOR ALL NON-OFFICERS TO THE PRESIDENT AND CHIEF EXECUTIVE OFFICER. FORM 990, PART VI, SECTION C, LINE 19 THE UVM FOUNDATION MAINTAINS A DOCUMENT LIBRARY ON ITS WEBSITE FOR THE PUBLIC TO VIEW GOVERNANCE & POLICIES, GIVING FORMS, FINANCIAL REPORTS, MEETING AGENDAS, AND MEETING MINUTES. WWW.UVMFOUNDATION.ORG FORM 990, PART XI, LINE 9: UNCOLLECTABLE PLEDGES -392,520. CHANGE IN ALLOWANCE FOR CONTRIBUTION RECEIVABLE 138,180. CHANGE IN DISCOUNT OF CONTRIBUTION RECEIVABLE 146,000. CHANGE IN VALUE OF DERIVATIVES -54,777. NET ASSET TRANSFER FROM UVM 1,821,911. NET ASSET TRANSFER TO UVM -2,031,813. UVMF HOLDINGS 411 MAIN STREET BURLINGTON VT 05401 300877053 INVESTMENT HOLDINGS VT 2310105 79458429 FOUNDATION UNIVERSITY OF VERMONT INVESTMENT MGMT CO 411 MAIN STREET BURLINGTON VT 05401 612325804 INVESTMENT HOLDINGS VT FOUNDATION UVM FOUNDATION RETIREE HEALTH PLAN TRUST 411 MAIN STREET BURLINGTON VT 05401 320443476 HEALTH BENEFIT VT 501(C)(9) FOUNDATION 1 FEUSRA REIT HOLDINGS LLC 1370 AVENUE OF THE AMERICAS NEW YORK NY 10019 844382223 INVESTMENT DE UVM FOUNDATION 1328398 0 0 0.99800 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 FEUSRA REIT HOLDINGS LLC F 186239 CASH