2023-11-02T16:16:45-05:00 2023-06-30 420714325 RSM US LLP 30 SOUTH WACKER DR SUITE 3300 CHICAGO IL 606063392 990 2022-07-01 390833612 WISCONSIN ALUMNI RESEARCH FOUNDATION WISC 6089609850 614 WALNUT STREET 13TH FLOOR MADISON WI 53726 LYSA THOENY CFO 6089609850 2023-11-01 1 LYSA THOENY XXX-XX-XXXX 0 REBEKUH ELEY P01247672 3126343400 2023-11-01 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ERIK IVERSON 614 WALNUT STREET 13TH FLOOR MADISON WI 53726 60834398 0 X WWW.WARF.ORG X 1925 WI SUPPORT UW-MADISON AND MORGRIDGE BY PROVIDING FUNCTIONAL SUPPORT AND GRANTS FOR RESEARCH. 15 14 114 87 -543498 0 180743 3272107 15615211 10839539 -114288908 -41495994 6680854 5810992 -91812100 -21573356 94854691 96328404 0 0 17946115 17287818 0 0 0 39701656 41836700 152502462 155452922 -244314562 -177026278 3181896827 3185260024 917247957 932184122 2264648870 2253075902 X TO SUPPORT SCIENTIFIC RESEARCH WITHIN THE UW-MADISON COMMUNITY BY PROVIDING FINANCIAL SUPPORT, ACTIVELY MANAGING ASSETS, AND MOVING INNOVATIONS TO THE MARKETPLACE FOR A FINANCIAL RETURN AND GLOBAL IMPACT. 0 0 125356491 89718404 16574669 1) WARF SUPPORTS UW-MADISON THROUGH ONGOING OPERATIONAL AND FUNCTIONAL SUPPORT, A CORE ANNUAL BASE GRANT, AND ADDITIONAL YEAR-TO-YEAR GRANTS. WARF IS A NEARLY CENTURY-OLD, INDEPENDENT, NONPROFIT SUPPORTING ORGANIZATION THAT HAS PROVIDED DIRECT OPERATIONAL SUPPORT THAT MOST PUBLIC UNIVERSITIES MUST PROVIDE THEMSELVES, INCLUDING SERVING AS UW-MADISON'S DESIGNATED PATENT MANAGEMENT ORGANIZATION; HOLDING AND MANAGING EDUCATIONAL AND RESEARCH-RELATED ASSETS; PROVIDING EDUCATIONAL PROGRAMMING; AND CONNECTING THE WIDER COMMUNITY TO SCIENTIFIC RESEARCH AT UW-MADISON. SINCE THE GREAT DEPRESSION, WARF'S ANNUAL BASE GRANT HAS SUPPORTED PIVOTAL CAMPUS ACTIVITIES SUCH AS FACULTY RECRUITMENT AND RETENTION, GRADUATE FELLOWSHIPS, AND GRANTS-IN-AID FOR RESEARCH PROJECTS. OVER SUBSEQUENT DECADES, WARF GREW TO PROVIDE SUPPORT THAT REACHES INTO EVERY CORNER OF UW-MADISON'S INNOVATION ECOSYSTEM, INCLUDING FUNDING BUILDINGS AND EQUIPMENT TO IMPROVE CAMPUS RESEARCH AND MAINTAIN UW-MADISON'S EXCELLENCE. 6610000 6610000 2) IN ADDITION TO UW-MADISON'S PUBLIC RESEARCH MISSION, WARF ALSO SUPPORTS THE MORGRIDGE INSTITUTE FOR RESEARCH (MORGRIDGE), A PRIVATE MEDICAL RESEARCH ORGANIZATION FUNCTIONALLY INTEGRATED WITH UW-MADISON, THROUGH BOTH GRANT FUNDING AND DIRECT OPERATIONAL SUPPORT, INCLUDING TECHNOLOGY TRANSFER ACTIVITIES. FOUNDED IN 2006, MORGRIDGE USES ITS PRIVATE STATUS AND STREAMLINED ORGANIZATIONAL STRUCTURE TO RESPOND NIMBLY TO EMERGING OPPORTUNITIES TO IMPROVE HUMAN HEALTH THROUGH INNOVATIVE, INTERDISCIPLINARY BIOMEDICAL DISCOVERIES. WARF'S SUPPORT OF MORGRIDGE CREATES A CULTURE IN PARTNERSHIP WITH UW-MADISON THAT ENABLES RIGOROUS BIOMEDICAL RESEARCH, SPARKS CURIOSITY, AND SERVES SOCIETY THROUGH TRANSLATIONAL OUTCOMES. 131966491 1 1 0 1 0 1 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 688 0 1 114 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 15 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 WI CA X X LYSA THOENY 6089609850 614 WALNUT STREET 13TH FLOOR MADISON WI 53726 ERIK IVERSON TRUSTEE/CEO 40.00 4.00 X X 695303 15000 97692 JAMES BERBEE TRUSTEE, CHAIR 4.00 X X 30000 0 0 MARY HAAK-FRENSCHO TRUSTEE 2.00 X 24000 0 0 REBECCA HOUSE TRUSTEE 2.00 X 24000 0 0 DEBORAH KELLER TRUSTEE 2.00 2.00 X 24000 15000 0 PATRICIA LIPTON TRUSTEE, SECRETARY 3.00 2.00 X X 24000 15000 0 DORIS MEISSNER TRUSTEE, VICE CHAIR 3.00 X X 24000 0 0 WINSLOW SARGEANT TRUSTEE 2.00 2.00 X 24000 15000 0 DAVID SMUKOWSKI TRUSTEE 2.00 X 24000 0 0 JAMES THOMSON TRUSTEE, TREASURER (INTERIM) 3.00 X X 24000 0 0 NORMAN BOBINS TRUSTEE, TREASURER (UNTIL 10/22) 3.00 X X 18000 0 0 JENNIFER MNOOKIN TRUSTEE 2.00 X 18000 0 0 PETER P TONG TRUSTEE 2.00 X 18000 0 0 ASHA S COLLINS TRUSTEE 2.00 X 0 0 0 PAUL LEFF TRUSTEE 2.00 X 0 0 0 THOMAS TEFFT TRUSTEE 2.00 X 0 0 0 MICHAEL FALK CHIEF IP & LICENSING OFFICER 40.00 X 443307 0 -206271 STEPHANIE ADAMANY GENERAL COUNSEL 40.00 X 399230 0 -112374 JOHN GRANSEE CFO/COO 40.00 X 416045 0 63471 MICHAEL PARTSCH CHEIF VENTURE OFFICER 40.00 X 410530 0 62126 ALAIN HUNG DEPUTY CHIEF INVESTMENT OFFICER 40.00 X 537078 0 -94697 MICHAEL WAGNER INVESTMENT DIRECTOR 40.00 X 473797 0 82446 JEANINE BURMANIA SENIOR DIRECTOR, IP AND LICENSING 40.00 X 258730 0 -69109 JONATHAN YOUNG HEAD OF WARF THERAPEUTICS 40.00 X 295991 0 74751 ALYSSA THOENY SENIOR DIRECTOR, FINANCE 40.00 X 264910 0 -6875 4470921 60000 -108840 41 0 1 0 PHARMARON INC 201 E JEFFERSON ST STE 304 LOUISVILLE KY 40202 RESEARCH/TESTING SERVICES 3812590 JH FINDORFF & SON INC 300 S BEDFORD ST MADISON WI 53703 BUILDING CONSTRUCTION 1402616 VIVA BIOTECH (SHANGHAI) LIMITED 735 ZIPING RD PUDONG NEW DISTRICT SHANGHAI CH 201318 RESEARCH/TESTING SERVICES 1170229 QUARLES & BRADY 411 E WISCONSIN AVENUE STE 2340 MILWAUKEE WI 532024426 LEGAL SERVICES 1135556 CPA GLOBAL LIMITED LIBERATION HOUSE CASTLE STREET ST HELIER CHANNEL ISLANDS JE JE1 1BL PATENT LEGAL/ANNUITY SERVICES 994632 26 3272107 3272107 ROYALTIES 900099 8145966 8145966 LICENSING 900099 2693573 2693573 10839539 36591760 -619360 37211120 2250000 0 2250000 2250000 2250000 4320000 78717716 3690038 -78717716 629962 -78087754 -78087754 MIR BLDG COSTS REIMBURSEMENTS 900099 1533137 1533137 WARF PATENT REVENUE 900099 1225056 1225056 OTHER INCOME 900099 726937 726937 75862 75862 3560992 -21573356 16574669 -543498 -40876634 X 96328404 96328404 5232878 1593311 3639567 7722967 4686492 3036475 2725581 1826194 899387 1188760 585374 603386 417632 253864 163768 3250 3250 565422 524266 41156 184372 184372 72655 72655 4704532 4704532 585789 452306 133483 99949 39444 60505 169145 79651 89494 747475 747475 5640234 5640234 2126906 1872970 253936 195656 101805 93851 139090 81136 57954 8021472 8021472 3721412 3683027 38385 463108 206647 256461 DOMESTIC LEGAL/PATENTS 9395218 9395218 FOREIGN LEGAL/PATENTS 1818357 1818357 FOREIGN PATENT MAINT FE 1073738 1073738 US PATENT MAINT FEES 970630 970630 1138290 753423 384867 155452922 131966491 23486431 0 3799753 2690027 6580297 4398416 2539442 2494667 127528 162216 179098148 69613163 116847313 109484985 1445681265 1501333852 1598800926 1563778651 7520303 917210 3181896827 3185260024 13872244 14287353 664454551 685480553 28162 28162 223661353 223710477 15231647 8677577 917247957 932184122 X 2211204350 2203709872 53444520 49366030 2264648870 2253075902 3181896827 3185260024 X -177026278 160960004 4493306 X 0 1 X 1 0 X X 2 UNIVERSITY OF WISCONSIN-MADISON 396006492 2 1 85398404 4320000 MORGRIDGE INSTITUTE FOR RESEARCH 208325570 4 1 6610000 0 2 92008404 4320000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 X PART IV, SECTION D, LINE 3: THE CHANCELLOR FOR UW-MADISON IS A MEMBER OF THE BOARD OF TRUSTEES. THE BYLAWS OF MORGRIDGE MANDATE THAT THE CEO OF WARF ALSO SERVES AS A MEMBER OF THE MORGRIDGE BOARD OF TRUSTEES. IN ADDITION, FOUR (4) OF MORGRIDGE'S BOARD MEMBERS (WHICH INCLUDES WARF'S CEO) ALSO SERVE ON WARF'S BOARD OF TRUSTEES. THE CHANCELLOR SERVES ON THE INVESTMENT COMMITTEE. IN ADDITION, THE CHANCELLOR AND THE OVERLAPPING TRUSTEES OF MORGRIDGE AND WARF HAVE AN INFLUENTIAL ROLE AND SIGNIFICANT VOICE IN THE WARF'S INVESTMENT POLICIES AND IN DIRECTING THE USE OF WARF'S INCOME OR ASSETS. WARF'S INVESTMENT POLICY IS DESIGNED TO PROVIDE STABLE SOURCES OF SUPPORT THAT ARE RESPONSIVE TO THE REQUESTS BY UW-MADISON AND MORGRIDGE FOR FUNDING TO SUPPORT THEIR RESEARCH AND OTHER PROGRAMS, BUILDING FACILITIES, AND OTHER NEEDS. IN ADDITION, ALL BOARD MEMBERS RECEIVE INFORMATION REGULARLY ABOUT THE ASSETS, INVESTMENTS, REVENUE AND EXPENDITURES OF WARF, MEET REGULARLY TO DISCUSS AND MAKE DECISIONS REGARDING WARF'S ACTIVITY, AND HAVE ACCESS TO WARF OFFICERS FOR ADDITIONAL INFORMATION ABOUT WARF ACTIVITIES. THE CHANCELLOR, UW-MADISON DEPARTMENT CHAIRS AND THE OFFICERS OF MORGRIDGE ARE IN REGULAR COMMUNICATION WITH WARF AND THEY ARE ACTIVE PARTICIPANTS IN THE PROCESS FOR DETERMINING THE AMOUNT, USE AND TIMING OF THE WARF GRANTS. PART IV, SECTION E, LINE 1C: WARF'S MISSION IS TO SUPPORT RESEARCH OF UW-MADISON, A PUBLIC RESEARCH UNIVERSITY, AND MORGRIDGE, A MEDICAL RESEARCH ORGANIZATION WHICH SINCE ITS FOUNDING IN 2006 HAS WORKED CLOSELY WITH UW-MADISON, IN THEIR RESPECTIVE ROLES AS TWENTY-FIRST CENTURY LEADERS IN RESEARCH, DISCOVERY AND INNOVATION. WARF IS RESPONSIVE TO BOTH SUPPORTED ORGANIZATIONS AND ENGAGES IN ACTIVITIES THAT DIRECTLY FURTHER THE SCIENTIFIC RESEARCH OF UW-MADISON AND MORGRIDGE, INCLUDING HOLDING AND MANAGING EXEMPT USE ASSETS, EDUCATIONAL PROGRAMMING, ENTREPRENEURIAL TRAINING, COMMUNITY OUTREACH ACTIVITIES, AND SUPPORT FOR CAMPUS INVENTION. WARF PROVIDES NECESSARY TECHNOLOGY TRANSFER SERVICES TO UW-MADISON AND MORGRIDGE, INCLUDING WORKING WITH RESEARCHERS IN THE INVENTION DISCLOSURE PROCESS, EVALUATING DISCLOSED INVENTIONS AND TECHNOLOGY FOR PATENTABILITY AND COMMERCIAL POTENTIAL, AND LICENSING PATENTS AND OTHER TECHNOLOGY DEVELOPED AT UW-MADISON AND MORGRIDGE, AND PROVIDING SUPPORT REGARDING AND/OR FULFILLING CERTAIN OBLIGATIONS RELATED TO THE BAYH-DOLE ACT THAT WOULD OTHERWISE BE PERFORMED BY THESE ORGANIZATIONS. WARF ALSO PROVIDES SERVICES TO UNIVERSITY-AFFILIATED ORGANIZATIONS WHICH ARE PERFORMED BY WARF EMPLOYEES IN AREAS SUCH AS HUMAN RESOURCES, INFORMATION TECHNOLOGY, LEGAL AND ACCOUNTING, AND WHICH WOULD OTHERWISE NEED TO BE PERFORMED BY UW-MADISON OR THE ORGANIZATIONS THEMSELVES. WARF MAKES GRANTS TO OR FOR THE BENEFIT OF UW-MADISON AND MORGRIDGE THAT SUPPORT RESEARCH PROGRAMS, AS WELL AS RECRUITMENT AND RETENTION OF TOP QUALITY FACULTY, STAFF, AND GRADUATE STUDENTS. IN ADDITION, WARF PROVIDES FUNDING FOR OTHER RESEARCH RELATED PRIORITIES AS IDENTIFIED BY THE SUPPORTED ORGANIZATIONS, SUCH AS NEW BUILDINGS AND EQUIPMENT TO IMPROVE AND EXPAND RESEARCH FACILITIES. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 72655 72655 150675735 150748390 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 72000 72000 72000 72655 288655 250000 250000 250000 250000 1000000 1500000 31 35735 6287238 60967228 0 0 11650702 11650702 142346571 44750264 97596307 989529 897381 92148 24111346 23965518 145828 109484985 MONEY MARKET FUNDS 68798524 F HEDGE FUNDS 979473799 F FIXED INCOME 470437029 F INVESTMENT IN UW/MIR TECHNOLOGY STARTUPS 45069299 F 1563778651 ROYALTIES PAYABLE 178710 ACCRUED PENSION FUND 7381801 DUE TO BROKER 1117066 8677577 X 129963277 160960004 160960004 -30996727 9423371 9423371 -21573356 146029551 0 146029551 9423371 9423371 155452922 PART X, LINE 2: WARF HAS BEEN GRANTED AN EXEMPTION FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. UNDER THIS EXEMPTION, INCOME TAX IS PAID ONLY ON NET UNRELATED BUSINESS INCOME. WARF IS ALSO EXEMPT FROM WISCONSIN INCOME AND REAL ESTATE TAX. WARF FOLLOWS THE GUIDANCE RELATIVE TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, WARF MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF WARF AND VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME (UBIT). ANY TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50 PERCENT LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. WARF FILES FORMS 990 IN THE U.S. FEDERAL JURISDICTION AND THE STATE OF WISCONSIN. PART XI, LINE 4B - OTHER ADJUSTMENTS: SHARED ROYALTIES NETTED AGAINST INCOME IN AUDIT 5,640,234. REIMBURSED EXPENSES FROM AFFILIATE NETTED AGAINST EXPENSES IN AUDIT 3,783,137. PART XII, LINE 4B - OTHER ADJUSTMENTS: REIMBURSED EXPENSES FROM AFFILIATE NETTED AGAINST EXPENSES IN AUDIT 3,783,137. SHARED ROYALTIES NETTED AGAINST INCOME IN AUDIT 5,640,234. 1 UNIVERSITY OF WISCONSIN - MADISON 1025 W JOHNSON ST MADISON WI 53706 396006492 115 85398404 4320000 FMV LAND SEE PROGRAM SERVICE ACCOMPLISHMENTS; FORM 990, PART III, LINE 4A MORGRIDGE INSTITUTE FOR RESEARCH 330 N ORCHARD ST MADISON WI 537151119 208325570 501(C)(3) 6610000 0 SEE PROGRAM SERVICE ACCOMPLISHMENTS; FORM 990, PART III, LINE 4B 2 0 PART I, LINE 2: 1) UW-MADISON - THE UNIVERSITY PROVIDES WARF WITH AN ANNUAL SUMMARY OF GRANT EXPENDITURES THAT DETAILS HOW THE GRANT FUNDS WERE SPENT FROM THE PREVIOUS YEAR. 2) MORGRIDGE INSTITUTE FOR RESEARCH - WARF HAS ACCESS TO THE FINANCIAL STATEMENTS. WARF'S CEO SITS ON THE BOARD OF MORGRIDGE. AN ADDITIONAL (3) WARF TRUSTEES ARE ALSO MORGRIDGE TRUSTEES (TOTAL OF 4). X X X X 0 1 0 1 0 1 0 0 0 ERIK IVERSON TRUSTEE/CEO 518728 0 176575 0 0 15000 49810 0 47882 0 792995 15000 0 0 MICHAEL WAGNER INVESTMENT DIRECTOR 283263 0 190534 0 0 0 39770 0 42676 0 556243 0 0 0 JOHN GRANSEE CFO/COO 327676 0 88369 0 0 0 21288 0 42183 0 479516 0 0 0 MICHAEL PARTSCH CHEIF VENTURE OFFICER 322486 0 88044 0 0 0 20937 0 41189 0 472656 0 0 0 ALAIN HUNG DEPUTY CHIEF INVESTMENT OFFICER 386560 0 150518 0 0 0 -138860 0 44163 0 442381 0 0 0 JONATHAN YOUNG HEAD OF WARF THERAPEUTICS 247220 0 48771 0 0 0 43009 0 31742 0 370742 0 0 0 STEPHANIE ADAMANY GENERAL COUNSEL 313947 0 85283 0 0 0 -153298 0 40924 0 286856 0 0 0 ALYSSA THOENY SENIOR DIRECTOR, FINANCE 221938 0 42972 0 0 0 -44642 0 37767 0 258035 0 0 0 MICHAEL FALK CHIEF IP & LICENSING OFFICER 349476 0 93831 0 0 0 -240875 0 34604 0 237036 0 0 0 JEANINE BURMANIA SENIOR DIRECTOR, IP AND LICENSING 214585 0 44145 0 0 0 -106731 0 37622 0 189621 0 0 0 PART I, LINE 4B THE FOLLOWING INDIVIDUAL PARTICIPATES IN A 457(F) PLAN AND THE AMOUNT IS THE CONTRIBUTION TO THE PLAN DURING 2022: ERIK IVERSON: $53,696 PART I, LINE 5 WARF'S INCENTIVE COMPENSATION/ACCURAL IS CONTINGENT UPON SEVERAL COMPLEX ORGANIZATIONAL PERFORMANCE METRICS AND FACTORS, ONE OF WHICH INCLUDES MEETING BUDGETED OPERATIONAL REVENUES. PART I, LINE 6 WARF'S INCENTIVE COMPENSATION/ACCURAL IS CONTINGENT UPON SEVERAL COMPLEX ORGANIZATIONAL PERFORMANCE METRICS AND FACTORS, ONE OF WHICH INCLUDES MEETING BUDGETED OPERATIONAL NET EARNINGS. FORM 990, PART VI, SECTION A, LINE 1A ERIK IVERSON, CEO, HAS SOME LIMITED VOTING RIGHTS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS INITIALLY REVIEWED AND APPROVED BY THE CFO/COO, SENIOR DIRECTOR, FINANCE AND OTHER MEMBERS OF THE EXECUTIVE MANAGEMENT TEAM. AN ELECTRONIC COPY OF THE FINAL DRAFT VERSION OF THE FORM 990 IS SUBSEQUENTLY PROVIDED TO THE BOARD OF TRUSTEES FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C WARF'S TRUSTEES AND EXECUTIVE OFFICERS MUST DISCLOSE ALL ACTUAL AND POTENTIAL CONFLICTS OF INTEREST TO THE GOVERNANCE COMMITTEE AND WARF'S GENERAL COUNSEL THROUGH THE ANNUAL DISCLOSURE FORM AND/OR WHENEVER SUCH A SITUATION ARISES IN THE INTERIM. DISINTERESTED MEMBERS OF THE GOVERNANCE COMMITTEE THEREAFTER MAKE A DETERMINATION AS TO WHETHER A CONFLICT OF INTEREST EXISTS AND WHAT ACTION, IF ANY, IS APPROPRIATE. ALL MEMBERS OF WARF STAFF ARE ALSO REQUIRED TO COMPLETE AN ANNUAL CONFLICT OF INTEREST FORM WHICH MUST BE UPDATED IF POTENTIAL CONFLICTS ARISE IN THE INTERIM. DISCLOSURES ARE REVIEWED BY WARF'S GENERAL COUNSEL AND DIRECTOR OF HUMAN RESOURCES TO MAKE A DETERMINATION AS TO WHETHER A CONFLICT OF INTEREST EXISTS AND WHAT ACTION, IF ANY, IS APPROPRIATE. FORM 990, PART VI, SECTION B, LINE 15 A) WARF RETAINS A NATIONAL INDEPENDENT HUMAN RESOURCES CONSULTING FIRM SPECIALIZING IN COMPENSATION ACTIVITIES TO REVIEW COMPENSATION FOR THE CEO AND SENIOR MANAGEMENT OF WARF. THE CONSULTANT IS RETAINED BY AND REPORTS TO THE CHAIR OF THE COMPENSATION COMMITTEE. B) EVERY THIRD YEAR THE CONSULTANT PROVIDES COMPARATIVE COMPENSATION DATA TO THE COMPENSATION COMMITTEE. C) THE CHAIR OF THE COMPENSATION COMMITTEE AND BOARD PRESIDENT REVIEWS A WRITTEN SUMMARY OF EXECUTIVE ACCOMPLISHMENTS FOR THE FISCAL YEAR. THIS INFORMATION IS SHARED WITH THE COMPENSATION COMMITTEE AND WITH THE BOARD'S EXECUTIVE COMMITTEE. D) IN LATE APRIL OR EARLY MAY THE COMPENSATION COMMITTEE HOLDS A TELECONFERENCE TO DISCUSS THE GENERAL DIRECTION AND SCOPE/RANGE OF EXECUTIVE COMPENSATION. THE OUTSIDE CONSULTANT PARTICIPATES IN THE DISCUSSION EVERY THIRD YEAR. E) IN AUGUST THE BOARD PRESIDENT AND THE CHAIR OF THE COMPENSATION COMMITTEE DISCUSS THE EXECUTIVE EVALUATION AND DETERMINE THE COMPENSATION ADJUSTMENT. F) THE COMPENSATION COMMITTEE REVIEWS THE RECOMMENDATION IN (E) ABOVE AND APPROVES FINAL COMPENSATION ADJUSTMENTS. G) THE CHAIR OF THE COMPENSATION COMMITTEE REVIEWS THE COMPENSATION ADJUSTMENTS WITH THE FULL BOARD AT THE FALL TRUSTEE MEETING. H) THE OUTSIDE CONSULTANT PROVIDES A LETTER TO THE CHAIR OF THE COMPENSATION COMMITTEE DESCRIBING THE CONSULTANT'S ROLE IN ESTABLISHING THE REBUTTABLE PRESUMPTION OF REASONABLENESS STANDARD UNDER THE INTERMEDIATE SANCTIONS REGULATIONS AND HOW THE CONSULTANT PROVIDED THE ANALYSIS TO DETERMINE THE REASONABLENESS OF THE EXECUTIVE COMPENSATION PACKAGE EVERY THIRD YEAR. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE NOT MADE AVAILABLE. FORM 990, PART IX, LINE 11G OTHER CONSULTANT: PROGRAM SERVICE EXPENSES 351,300. MANAGEMENT AND GENERAL EXPENSES 133,483. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 484,783. SECURITY SERVICE: PROGRAM SERVICE EXPENSES 101,006. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 101,006. FORM 990, PART XI, LINE 9: CHANGE IN MINIMUM PENSION OBLIGATION 4,493,306. FORM 8621: FILING 8621 ON BEHALF OF WISCONSIN ALUMNI RESEARCH FOUNDATION WISCONSIN ALUMNI RESEARCH FOUNDATION OWNS A STAKE IN THE FOLLOWING PARTNERSHIPS WHICH HAVE INDIRECT INVESTMENTS IN PASSIVE FOREIGN INVESTMENT COMPANIES (PFICS), AND HAVE FILED FORM 8621 ON BEHALF OF WISCONSIN ALUMNI RESEARCH FOUNDATION: 5AM VENTURES V, LP 5AM OPPORTUNITIES I LP 400 COF LTD AXIOM EMERGING MARKETS EQUITY FUND WARF PROPERTIES LLC 614 WALNUT STREET 13TH FLOOR MADISON WI 53726 203521556 HOLDING REAL ESTATE WI WISCONSIN ALUMNI RESEARCH FOUNDATION TOWN CENTER DINING LLC 614 WALNUT STREET 13TH FLOOR MADISON WI 53726 272845458 EVENT COORDINATOR WI MORGRIDGE INSTITUTE FOR RESEARCH 330 N ORCHARD ST MADISON WI 537151119 208325570 RESEARCH WI 501(C)(3) LINE 4 0 UNIVERSITY OF WISCONSIN-MADISON 1025 W JOHNSON ST MADISON WI 53706 396006492 EDUCATION WI 115 LINE 2 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 0 0