2014-11-06T11:32:35-06:00 2014-06-30 232708607 SELIGMAN FRIEDMAN & CO PC 1423 N ATHERTON ST STATE COLLEGE PA 16803 990 2013-07-01 237007734 LOCK HAVEN UNIVERSITY FOUNDATION LOCK 5704842298 DURRWACHTER ALUMNI CONFERENCE CENTER LOCK HAVEN PA 17745 BETH RICCARDO TREASURER 5704842298 2014-10-31 1 JODI L PRINGLE P00310197 8142388474 2014-10-31 2013 2015-11-30 17:44:51Z TROY MILLER DURRWACHTER ALUMNI CONFERENCE CENTER LOCK HAVEN PA 17745 14566919 0 X WWW.LHUFOUNDATION.ORG X 1967 PA TO GENERATE AND MANAGE RESOURCES FOR THE BENEFIT OF LOCK HAVEN UNIVERSITY AND ITS STUDENTS. 25 24 160 55 97920 -9080 1212720 2375529 1007828 843896 846072 399811 -151491 634009 2915129 4253245 3271710 827313 0 0 694044 704616 0 0 211629 1209260 1313958 5175014 2845887 -2259885 1407358 85690810 71039807 82546178 65169275 3144632 5870532 TO GENERATE AND MANAGE RESOURCES FOR THE BENEFIT OF LOCK HAVEN UNIVERSITY AND ITS STUDENTS. 0 0 974306 745976 SUPPORT OF LOCK HAVEN UNIVERSITY'S ACADEMIC PROGRAMS BASED ON THE UNIVERSITY CASE FOR SUPPORT WHICH INCLUDES ART RESTORATION, THE DRESS FOR SUCCESS CAREER CLOSET, FACILITY UPGRADES, FACULTY ENHANCEMENTS, GLOBAL HONORS PROGRAMS, INTERNATIONAL EDUCATION, SCIENCE EDUCATION AND STUDENT ENHANCEMENTS. 827313 827313 SUPPORT OF STUDENT SCHOLARSHIPS AND AWARDS BASED ON DONOR DESIGNATION AND CRITERIA. THE ORGANIZATION AWARDS OVER 200 ANNUAL SCHOLARSHIPS AND AWARDS TO BOTH FRESHMEN AND UPPERCLASSMEN BASED ON NEED AND MERIT. 0 0 452480 OWN AND OPERATE FOUR STUDENT HOUSING PROJECTS (EVERGREEN COMMONS, FOUNDATION VILLAGE AT CLEARFIELD, CAMPUS VILLAGE, AND FARIVIEW SUITES) FOR THE BENEFIT OF LOCK HAVEN UNIVERSITY OR ITS STUDENTS. 1801619 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 1 0 0 0 0 0 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 9 0 160 1 1 1 0 0 0 0 1 1 0 0 0 0 X 25 24 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X X CHIEF FINANCIAL OFFICER 5704842298 DURRWACHTER ALUMNI CONFERENCE LOCK HAVEN PA 17745 JAMES GREGORY PRESIDENT 0.30 X X 0 0 0 ANTHONY SIMONETTA VICE PRESIDENT 0.30 X X 0 0 0 BETH RICCARDO TREASURER 0.30 X X 0 0 0 RICK INSLEY SECRETARY 0.30 X X 0 0 0 MILTON ALLEN DIRECTOR 0.30 X 0 0 0 ANTHONY ANASTOS DIRECTOR 0.30 X 0 0 0 JAMES BERKEBILE DIRECTOR 0.30 X 0 0 0 RONALD BOWES DIRECTOR 0.30 X 0 0 0 HARRY CRISSMAN DIRECTOR 0.30 X 0 0 0 ANNETTE DAVIS DIRECTOR 0.30 X 0 0 0 MAUREEN GATHAGAN DIRECTOR 0.30 X 0 0 0 BECKY GILBERT DIRECTOR 0.30 X 0 0 0 KARL HERRMANN DIRECTOR 0.30 X 0 0 0 STANLEY KIEC DIRECTOR 0.30 X 0 0 0 RALPH LEHMAN DIRECTOR 0.30 X 0 0 0 ROBERT LOMISON DIRECTOR 0.30 X 0 0 0 ROBERT MAGUIRE DIRECTOR 0.30 X 0 0 0 MONA MANGAN DIRECTOR 0.30 X 0 0 0 ROB MCCAULEY DIRECTOR 0.30 X 0 0 0 JAMES REESER DIRECTOR 0.30 X 0 0 0 POLLY SPANGLER DIRECTOR 0.30 X 0 0 0 STEVE TASSELLI DIRECTOR 0.30 X 0 0 0 JAMES WHALEY DIRECTOR 0.30 X 0 0 0 TROY MILLER EXECUTIVE DIRECTOR 40.00 X 62313 0 10548 PAULA KISTLER FORMER CHIEF FINANCIAL OFFICER 40.00 X 79525 0 9772 AMANDA KEIFFER CHIEF FINANCIAL OFFICER 40.00 X 0 0 0 141838 0 20320 0 0 0 0 ARAMARK SERVICES INCORPORATED 1101 MARKET STREET PHILADELPHIA PA 19107 FOOD SERVICES 117672 1 6602 2368927 167338 2375529 CONTRACTED SERVICES 561000 475404 475404 FEES COLLECTED FOR UNIVERSITY PRO 611710 368492 270572 97920 843896 243816 243816 8513461 8060981 452480 452480 452480 2136929 1980934 155995 155995 155995 453288 6602 271759 181529 181529 4253245 1198456 97920 581340 807062 807062 20251 20251 250911 250911 336049 18738 317311 12761 12761 61146 2007 59139 43749 1808 41941 8481 8481 20200 20200 28154 28154 49459 26811 22648 21112 21112 36894 35094 1800 116548 63053 53495 13977 13977 121925 121925 95438 95438 23350 780 22570 EQUIPMENT AND SUPPLIES 143834 143834 ENGLISH AS A SECOND LAN 131123 131123 FUNDRAISING ACTIVITIES 129584 110821 18763 ATHLETIC EVENTS AND SAL 120801 9139 111662 253078 234852 13429 4797 2845887 1801619 832639 211629 340042 1247652 3270053 3037548 76971 390664 978059 445303 140553 134830 42474 19294 58496894 10820858 49563134 47676036 30004831 16918506 34917 34917 1239776 1135057 85690810 71039807 1488399 1230715 263236 240260 77564531 60813898 384190 349976 2845822 2534426 82546178 65169275 X -9715206 -9422924 3042698 4586022 9817140 10707434 3144632 5870532 85690810 71039807 X 1407358 988247 330295 X 0 1 X 1 0 X 3670369 2062820 1888786 1527860 2375529 11525364 462054 243480 208124 157570 143483 1214711 4132423 2306300 2096910 1685430 2519012 12740075 352634 12387441 190820 226253 212997 157664 243816 1031550 13771625 31969535 0.89950 0.89210 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 700 194960 X X X 0 9817140 188383 1266076 291809 272356 10707434 9268288 273558 746972 239424 232254 9817140 8720745 1142210 -109528 200079 285060 9268288 6744604 1113557 1395559 261368 271607 8720745 5450587 858495 884722 192514 256686 6744604 1.00000 0 0 977342 977342 54034163 8743614 45290549 3403703 2045675 1358028 81686 31569 50117 47676036 SPLIT INTEREST AGREEMENTS 564810 INTEREST RATE SWAP AGREEMENTS 1969616 2534426 X 14019856 988247 143483 302141 1433871 12585985 -8332740 -8332740 4253245 11293956 143483 8332740 8476223 2817733 28154 28154 2845887 PART III, LINE 4: THE FOUNDATION MAINTAINS A DONATED COLLECTION OF OIL PAINTINGS AND BLACK/WHITE ETCHINGS BY JOHN SLOAN. IN ADDITION, THE FOUNDATION DISPLAYS DONATED PORTRAITS IN THE DURRWACHTER ALUMNI CONFERENCE CENTER. IN ACCORDANCE WITH ITS MISSION TO GENERATE AND MANAGE RESOURCES FOR THE BENEFIT OF LOCK HAVEN UNIVERSITY AND ITS STUDENTS, THE COLLECTIONS ARE USED BY THE UNIVERSITY FOR EDUCATION,INCLUDING FOR LOAN OR EXCHANGE PROGRAMS, AND PRESERVES THE HISTORY OF THE FOUNDATION AND THE UNIVERSITY. PART V, LINE 4: THE INTENDED USE OF THE FOUNDATION'S ENDOWMENT FUNDS ARE DRIVEN BY THE DONOR'S INTENT. AT JUNE 30, 2014, $6,656,561 OF THE PERMANENTLY RESTRICTED NET ASSETS ARE FOR SCHOLARSHIPS. THE REMAINING PERMANENTLY RESTRICTED NET ASSETS ARE FOR PROGRESS OF DESIGNATED DEPARTMENTS OR PROJECTS, CHARITABLE GIFTS PAYABLE IN FUTURE PERIODS, ATHLETIC AND ATHLETIC CAMPS, AND STUDENT LOANS. PART X, LINE 2: THE FOUNDATION'S OPEN AUDIT PERIODS ARE 2010 THROUGH 2012. ASC NO. 740-10, "INCOME TAXES" PRESCRIBES A COMPREHENSIVE MODEL FOR HOW AN ORGANIZATION SHOULD MEASURE, RECOGNIZE, PRESENT, AND DISCLOSE UNCERTAIN TAX POSITIONS TAKEN ON ITS TAX RETURN. THE FOUNDATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR TAX POSITIONS TAKEN AND, AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES (REPORTED PART IX, LINE 11F) -28,154. CHANGE IN VALUE OF INTEREST RATE SWAP 317,582. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 12,713. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSE (REPORTED PART VIII, LINE 6B) -8,060,981. SPECIAL EVENTS EXPENSE (REPORTED PART VIII, LINE 8B) -271,759. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE (REPORTED PART VIII, LINE 6B) 8,060,981. SPECIAL EVENTS EXPENSE (REPORTED PART VIII, LINE 8B) 271,759. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES (REPORTED PART IX, LINE 11F) 28,154. CAMPS AND CLINICS 294894 294894 41588 197292 CRIMSON & WHITE WEEKEND 25932 6202 19730 888 3389 4572 3 52507 400 52107 12696 1558 9776 373333 6602 366731 13584 41588 4947 211640 271759 94972 1 LOCK HAVEN UNIVERSITY LOCK HAVEN UNIVERSITY LOCK HAVEN PA 17745 232442881 804485 COST STUDENT AND FACULTY SCHOLARSHIPS AND AWARDS LOCK HAVEN UNIVERSITY SCC BOOKSTORE PARSONS UNION BUILDING LOCK HAVEN PA 17745 246002470 2577 COST STUDENT AND FACULTY SCHOLARSHIPS AND AWARDS 2 STUDENT AND FACULTY SCHOLARSHIPS AND AWARDS 639 20251 COST PART I, LINE 2: THE FOUNDATION SCHOLARSHIP PROGRAM IS HELD DURING THE SPRING SEMESTER PROVIDING RECOGNITION AND FINANCIAL ASSISTANCE TO STUDENTS WHO ARE SELECTED USING A RANGE OF CRITERIA. RECIPIENTS ARE CHOSEN BY A DEPARTMENT COMMITTEE WHICH ESTABLISHES ITS OWN PROCESS, POLICIES, PROCEDURES AND DEADLINES OR A FOUNDATION SCHOLARSHIP COMMITTEE SELECTS THE RECIPIENTS. A CLINTON COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232237001 NONEAVAIL 2002-12-17 2561630 RE-FINANCE CAMPUS VILLAGE STUDENT HOUSING PROJECT 0 0 0 B LAWRENCE TOWNSHIP WOLF RUN INDUSTRIAL PARK AUTHORITY 232237007 NONEAVAIL 2003-04-03 1200000 FOUNDATION VILLAGE AT CLEARFIELD STUDENT HOUSING PROJECT 0 0 0 C PENNSYLVANIA HIGHER EDUCATION FACILITIES AUTHORITY 232243852 70917NWF7 2003-07-24 17088157 EVERGREEN COMMONS STUDENT HOUSING PROJECT 1 0 0 D CLINTON COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232237001 NONEAVAIL 2010-01-14 3000000 RE-FINANCE DURRWACHTER ALUMNI CONFERENCE CENTER 0 0 0 A 2561630 2561630 1864645 43245 653740 2002 0 0 1 1 B 489241 1200000 19875 1180125 2003 0 0 1 1 C 1930000 16150000 17088157 1258213 336216 512775 14980953 2004 0 0 1 1 D 337758 3000000 3000000 2010 0 0 1 1 A 0 0 1 1 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 1 1 0 0 0 0 D 0 0 0 0 0 0 0 A 0 0 1 0 0 0 0 0 0 B 0 0 1 0 1 1 SOVEREIGN BANK 10.000000000000 0 0 0 0 0 C 0 0 1 0 0 0 1 BAYERISCHE LANDESBANK 9.000000000000 0 0 0 D 0 0 1 0 0 0 0 0 0 A 0 B 0 C 0 D 0 A PENNSYLVANIA HIGHER EDUCATION FACILITIES AUTHORITY 232243852 NONEAVAIL 2011-06-29 41650000 FAIRVIEW SUITES STUDENT HOUSING PROJECT 0 0 0 B PENNSYLVANIA HIGHER EDUCATION FACILITIES AUTHORITY 232243852 70917SEY5 2013-05-29 16057515 REFUNDING OF EVERGREEN COMMONS STUDENT HOUSING PROJECT 0 0 0 A 42045101 510753 1082756 40451592 2012 0 0 1 1 B 15994735 15994735 2013 1 0 1 1 A 0 0 1 1 0 0 0 0 B 0 0 1 1 0 0 0 0 A 0 0 1 0 1 1 BANK OF AMERICA 6.000000000000 0 0 0 0 0 B 0 0 1 0 0 0 0 0 0 A 0 B 0 DAVIS INSURANCE AGENCY INC ENTITY MORE THAN 35% OWNED BY A FAMILY MEMBER OF ANNETTE DAVIS, DIRECTOR 28475 DAVIS INSURANCE AGENCY, INC. IS THE BROKER FOR THE FOUNDATION'S INSURANCE POLICIES, WHICH TOTAL 18 POLICIES, COSTING $267,211. THE AMOUNT REPORTED IN COLUMN C ABOVE REFLECTS PREMIUMS PAID DIRECTLY TO THE AGENCY FOR FOUR POLICIES AND A PARITAL PAYMENT ON ONE OTHER POLICY. 0 X 1 700 FAIR VALUE X 1 10083 FAIR VALUE X 1 8634 FAIR VALUE X EQUIPMENT AND 85 147921 FAIR VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 3 THE FOUNDATION ENGAGES A MANAGEMENT COMPANY TO OPERATE THE EVERGREEN COMMONS AND FAIRVIEW SUITES STUDENT HOUSING PROJECTS. FORM 990, PART VI, SECTION B, LINE 11 THE FIRST DRAFT OF THE FORM 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICER WITH THE PAID PREPARER. THE SECOND DRAFT IS REVIEWED BY THE FINANCE COMMITTEE, AS PRESENTED BY THE PAID PREPARER. THE THIRD DRAFT IS PROVIDED TO THE BOARD OF DIRECTORS, PREFERABLY ELECTRONICALLY, PRIOR TO THE FALL MEETING OF THE BOARD OF DIRECTORS. THE FINAL DRAFT OF THE FORM 990 IS APPROVED OR DENIED AT THE FALL MEETING OF THE BOARD OF DIRECTORS AND, AT THE REQUEST OF THE BOARD OF DIRECTORS, MAY INCLUDE THE PRESENCE OF THE PAID PREPARER. AFTER APPROVAL BY THE BOARD OF DIRECTORS, THE FINAL FORM 990 WILL BE FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS REQUIRES EACH DIRECTOR AND EMPLOYEE TO ANNUALLY (1) REVIEW THE CONFLICT OF INTEREST POLICY; (2) DISCLOSE ANY POSSIBLE PERSONAL, FAMILIAL, OR BUSINESS RELATIONSHIPS THAT REASONABLY COULD GIVE RISE TO A CONFLICT INVOLVING THE FOUNDATION OR UNIVERSITY; AND (3) ACKNOWLEDGE BY HIS OR HER SIGNATURE THAT HE OR SHE WILL ACT IN ACCORDANCE WITH THE LETTER AND SPIRIT OF THIS POLICY. INFORMATION PROVIDED ON THE ANNUAL FORM SHALL BE HELD IN CONFIDENCE EXCEPT WHEN, AFTER CONSULTATION WITH THE MEMBER, THE FOUNDATION OR UNIVERSITY'S BEST INTERESTS WOULD BE SERVED BY DISCLOSURE. FORM 990, PART VI, SECTION B, LINE 15 A RECOMMENDATION FOR THE ANNUAL COMPENSATION IS DEVELOPED BY THE EXECUTIVE COMMITTEE, WHO USES SALARY SURVEYS AND MARKET COMPARISONS FOR COMPARABLE POSITIONS TO IDENTIFY REASONABLE COMPENSATION AND BENEFIT LEVELS. THIS RECOMMENDATION IS PRESENTED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL. THIS PROCESS MAY BE INCORPORATED IN CONJUNCTION WITH THE ANNUAL BUDGET PROCESS. THIS PROCESS WAS COMPLETED IN JUNE 2013 FOR TOP MANAGEMENT OFFICIAL AND APRIL 2014 FOR THE TOP FINANCIAL OFFICIAL. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE ON THEIR WEBSITE. WHEN A WRITTEN REQUEST IS RECEIVED FOR PUBLIC INSPECTION OF THE FINANCIAL STATEMENTS, THE EXECUTIVE DIRECTOR, A COMMITTEE OF THE BOARD OF DIRECTORS, AND/OR THE BOARD OF DIRECTORS WILL EVALUATE THE FACTS AND CIRCUMSTANCES SPECIFIC TO THE INDIVIDUAL REQUEST TO DETERMINE IF THE REQUEST WILL BE GRANTED IN ACCORDANCE WITH APPLICABLE LAW. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAPS 317,582. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 12,713.