2023-12-20T10:51:47-06:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 8390 EAST CRESCENT PARKWAY SUITE 300 GREENWOOD VILLAGE CO 80111 990 2022-07-01 840576459 METROPOLITAN STATE UNIVERSITY OF DENVER FOUNDATION INC METR 3036150065 PO BOX 173362 CAMPUS BOX 14 DENVER CO 80217 MARTI AWAD TREASURER 3036150065 2023-12-11 1 MARTI AWAD XXX-XX-XXXX 1 SARAH HINTZ P00492291 3037795710 2023-12-04 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z MARTI AWAD PO BOX 173362 CAMPUS BOX 14 DENVER CO 80217 39179735 0 X WWW.MSUDENVER.EDU/FOUNDATION X 1967 CO TO PROMOTE THE GENERAL WELFARE AND DEVELOPMENT OF THE METROPOLITAN STATE UNIVERSITY OF DENVER. 23 23 0 25 -1940 0 9994858 14955026 208617 162282 7566221 -1906041 116193 132363 17885889 13343630 4903483 7483300 0 0 505955 549623 50480 0 47849 667585 441069 6127503 8473992 11758386 4869638 39016557 51429887 1490537 3603067 37526020 47826820 METROPOLITAN STATE UNIVERSITY OF DENVER FOUNDATION, INC IS A NON-PROFIT CORPORATION ORGANIZED TO PROMOTE THE GENERAL WELFARE AND DEVELOPMENT OF THE METROPOLITAN STATE UNIVERSITY OF DENVER THROUGH STRATEGIC PLANNING, FUNDRAISING AND PROGRAMS SUPPORT. 0 0 7483300 7483300 82211 FUNDS ARE RAISED FOR THE BENEFIT OF THE STUDENTS, FACULTY, AND ADMINISTRATION OF THE METROPOLITAN STATE UNIVERSITY OF DENVER FOUNDATION, INC. FUNDS ARE ALSO USED TO PUBLICIZE, PROMOTE AND SUPPORT THE ADVANCEMENT OF THE UNIVERSITY. 7483300 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 1 9 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 23 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 AL AK AZ AR CA CO CT DC DE FL GA HI ID IL IN IA KS KY LA MA MD ME MI MN MS MT MO NE NV ND NH NM NJ NY NC OH OK OR PA RI SC SD TN TX UT VT VA WV WI WY X X EARL CALEB 3036057295 890 AURARIA PARKWAY DENVER CO 80206 DAWN BOOKHARDT CHAIR 1.00 X X 0 0 0 RUTH ROHS VICE CHAIR 1.00 X X 0 0 0 MARTI AWAD TREASURER 1.00 X X 0 0 0 ASHLEY DIMOND SECRETARY 1.00 X X 0 0 0 FERD BELZ DIRECTOR 1.00 X 0 0 0 PAT CORTEZ DIRECTOR 1.00 X 0 0 0 BARB GROGAN DIRECTOR 1.00 X 0 0 0 RUS HEISE DIRECTOR 1.00 X 0 0 0 KEVIN KELLEY DIRECTOR 1.00 X 0 0 0 CHARLIE KERCHEVAL DIRECTOR 1.00 X 0 0 0 JON L KINNING DIRECTOR 1.00 X 0 0 0 RICK KORNFELD DIRECTOR 1.00 X 0 0 0 TRAVIS LUTHER EX-OFFICIO 1.00 X 0 0 0 DONALD MARSHALL DIRECTOR 1.00 X 0 0 0 HEATHER MILLER DIRECTOR 1.00 X 0 0 0 BRIAN O'NEIL DIRECTOR 1.00 X 0 0 0 CINDY PARSONS DIRECTOR 1.00 X 0 0 0 SHANE PORTFOLIO DIRECTOR 1.00 X 0 0 0 TRINI RODRIGUEZ DIRECTOR 1.00 X 0 0 0 STAN SENA DIRECTOR 1.00 X 0 0 0 RON TILTON PAST CHAIR 1.00 X 0 0 0 MARILEE UTTER PAST CHAIR 1.00 X 0 0 0 CHARLIE WALLING DIRECTOR 1.00 X 0 0 0 CHRISTINE MARQUEZ-HUDSON EXECUTIVE DIRECTOR 40.00 X 181434 0 56673 LORI HERRERA CFO 40.00 X 105195 0 69917 286629 0 126590 2 0 1 1 0 47376 774186 14133464 135426 14955026 UNIVERSITY DEPARTMENT 713990 162282 162282 162282 1082018 1082018 130791 6206 124585 124585 124585 22768643 25756702 -2988059 -2988059 -1940 -2986119 80975 47376 73197 7778 7778 13343630 0 -1940 -1609456 7483300 7483300 119819 71970 47849 352320 352320 77484 77484 45204 45204 31960 31960 82344 82344 58599 58599 25693 25693 38208 38208 36000 36000 25766 25766 DISCRETIONARY EXPENSES 48650 48650 UNCOLLECTIBLE PLEDGE LO 42500 42500 MISC EXPENSE 6145 6145 8473992 7483300 942843 47849 2760139 2833328 50041 3825859 7862343 4361 6359 8325 27882 1745462 477820 1303642 1267642 29835432 37351212 1264852 2016563 13947 14517 39016557 51429887 980831 3125765 330538 302153 179168 175149 1490537 3603067 X 6057692 7128104 31468328 40698716 37526020 47826820 39016557 51429887 X 4869638 5431683 -521 X X 0 1 X 1 0 X 5826871 6520451 6898951 9923988 14955026 44125287 1689545 1927251 1917906 3526594 4383639 13444935 7516416 8447702 8816857 13450582 19338665 57570222 308305 57261917 788246 716749 658110 1630318 1212809 5006232 62576454 1293198 0.91510 0.88670 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 265590 X 0 0 1 X 19765432 5382682 2047165 658820 26536459 23175418 1578219 -4101633 886572 19765432 18056150 1864299 3937803 682834 23175418 16891088 1786174 42198 663310 18056150 13259727 3592952 288752 250343 16891088 0.00760 0.03800 0.95440 0 0 456400 456400 1023472 477820 545652 265590 265590 1267642 ANNUITY PAYABLE 175149 175149 X 23151111 5431683 4382639 -521 9813801 13337310 82344 -76024 6320 13343630 12850311 4382639 76024 4458663 8391648 82344 82344 8473992 PART III, LINE 4: THE FOUNDATION'S COLLECTION CONSISTS OF SCULPTURES, PAINTINGS, AND OTHER ARTWORK. THE OWNERSHIP, MAINTENANCE, AND EXHIBITION FOR PUBLIC VIEWING OF WORKS OF ART CONTRIBUTES IMPORTANTLY TO THE ACHIEVEMENT OF THE INSTITUTION'S EDUCATIONAL PURPOSES BY ENHANCING PUBLIC AWARENESS AND INTEREST. PART IV, LINE 2B: THE FOUNDATION HOLDS FUNDS FOR THE ALUMNI ASSOCIATION FROM RAFFLES HELD BY THE ALUMNI ASSOCIATION. PART V, LINE 4: THE FOUNDATION'S ENDOWMENT (ENDOWMENT) IS COMPOSED OF 82 INDIVIDUAL FUNDS ESTABLISHED BY DONORS (PERPETUAL ENDOWMENT) AND 157 PURPOSE-RESTRICTED QUASI-ENDOWMENT FUNDS (QUASI-ENDOWMENT). THE FUNDS WERE ESTABLISHED BY DONORS PRIMARILY TO PROVIDE SCHOLARSHIPS TO ELIGIBLE STUDENTS OF THE UNIVERSITY, AND TO SUPPORT ACADEMIC DEPARTMENTS, STUDENT ACTIVITIES, AND OTHER PURPOSES OF THE UNIVERSITY. PART X, LINE 2: THE FOUNDATION IS ORGANIZED AS A COLORADO NONPROFIT CORPORATION AND HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3), QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A)(IV), AND HAS BEEN DETERMINED NOT TO BE A PRIVATE FOUNDATION UNDER SECTION 509(A)(1). THE LLC IS TREATED AS A DISREGARDED ENTITY FOR TAX PURPOSES, AND IS INCORPORATED INTO THE TAX RETURN FILED BY THE FOUNDATION. THE FOUNDATION IS ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. IN ADDITION, THE FOUNDATION IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO ITS EXEMPT PURPOSES. THE FOUNDATION FILES AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T) WITH THE IRS TO REPORT ITS UNRELATED BUSINESS TAXABLE INCOME. MANAGEMENT BELIEVES THAT THE FOUNDATION HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS. THE FOUNDATION WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT -1,091. CHANGE IN VALUE OF LIFE INSURANCE POLICIES 570. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENT EXPENSE -6,206. FUNDRAISING EXPENSE -69,818. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENT EXPENSE 6,206. FUNDRAISING EXPENSE 69,818. ATHLETIC AUCTION 128351 47376 80975 43944 7140 12571 4900 4642 128351 47376 80975 43944 7140 12571 4900 4642 73197 7778 1 METROPOLITAN STATE UNIVERSITY OF DENVER PO BOX 173362 DENVER CO 80217 840559160 STATE OF COLORADO 7466300 0 N/A N/A THE FUNDS ARE USED BY THE UNIVERSITY TO AWARD SCHOLARSHIPS TO INDIVIDUALS AND TO SUPPORT ACADEMIC ACTIVITIES, PROGRAMS AND INITIATIVES. METROPOLITAN STATE COLLEGE OF DENVER ALUMNI ASSOCIATION PO BOX 173362 CAMPUS BOX 11 DENVER CO 80217 010595871 501(C)4 17000 0 N/A N/A MSU DENVER FOUNDATION HAS AN MOU WITH THE ALUMNI ASSOCIATION WHERE THE FOUNDATION CREDITS THE ALUMNI ASSOCIATION 50% OF THEIR ADMIN FEES FROM ALL ALUMNI GIFTS. IN ADDITION, THE FOUNDATION REBATES THE FULL ADMIN FEE CHARGED TO THE ALUMNI ASSOCIATION FROM THE PREVIOUS YEAR. 1 1 PART I, LINE 2: THE FOUNDATION ENSURES THAT THE UNIVERSITY USES THE FUNDS FOR THEIR INTENDED PURPOSE BY: 1. AWARDING SCHOLARSHIPS THROUGH THE UNIVERSITY'S SCHOLARSHIP CENTER AND CREDITING TO STUDENT ACCOUNTS. 2. ACCOUNTING FOR SPECIFIC RESTRICTIONS IN SEPARATE FOUNDATION FUNDS. SEGREGATING MONIES RECEIVED FOR SCHOLARSHIPS IN A SEPARATE FUND FROM NON-SCHOLARSHIP AMOUNTS, REVIEWING ALL EXPENDITURES TO ENSURE DONOR RESTRICTIONS ARE SATISFIED, AND DISTRIBUTING MONTHLY TRANSACTION REPORTS FOR REVIEW BY ACCOUNTHOLDERS. 3. USING A SEPARATE CODE TO DISTINGUISH SCHOLARSHIP FUNDS FROM OTHER TYPES OF ACCOUNTS PAYABLE. 4. THE MANAGER OF SCHOLARSHIPS WORKING WITH THE DONOR, THE FOUNDATION AND THE SCHOLARSHIP CENTER TO ENSURE THAT ALL AVAILABLE FUNDS ARE AWARDED WHEN POSSIBLE. 5. INFORMING DONORS OF THE RESULTS OF THEIR STUDENT RECIPIENTS. 0 0 0 0 0 0 0 0 0 CHRISTINE MARQUEZ-HUDSON EXECUTIVE DIRECTOR 181434 0 0 0 0 0 22293 0 34380 0 238107 0 0 0 LORI HERRERA CFO 105195 0 0 0 0 0 16044 0 53873 0 175112 0 0 0 SCHEDULE J, PART III ALL OFFICERS ARE COMPENSATED FOR THEIR SERVICES BY METROPOLITAN STATE UNIVERSITY OF DENVER, AN UNRELATED ORGANIZATION. X 1 5000 FMV X 5 32241 FMV X AUCTION ITEMS 122 42761 FMV X MATERIALS 89 36506 FMV X EQUIPMENT 37 18918 FMV 0 0 1 0 PART I, COLUMN (B): COLUMN B INDICATES THE NUMBER OF CONTRIBUTORS EXCEPT FOR AUCTION ITEMS WHICH IS THE NUMBER OF ITEMS CONTRIBUTED. FORM 990, PART VI, SECTION A, LINE 1A THE ORGANIZATION IS MANAGED BY AN EXECUTIVE COMMITTEE COMPRISED OF THE BOARD'S CHAIR, VICE CHAIR, SECRETARY, AND TREASURER. EX-OFFICIO MEMBERS OF THE BOARD OF DIRECTORS ALSO PARTICIPATE, BUT AS NON-VOTING MEMBERS. THE COMMITTEE IS EMPOWERED TO CONDUCT THE FOUNDATION'S BUSINESS BETWEEN REGULAR BOARD MEETINGS AND HAS ALL THE AUTHORITY OF THE BOARD EXCEPT THAT IT SHALL NOT AUTHORIZE DISTRIBUTIONS, ELECT, APPOINT OR REMOVE ANY DIRECTOR, AMEND THE ARTICLES, ADOPT, AMEND OR REPEAL THE BYLAWS, APPROVE A PLAN OF CONVERSION OR PLAN OF MERGER, OR APPROVE A SALE, LEASE, EXCHANGE, OR OTHER DISPOSITION OF ALL, OR SUBSTANTIALLY ALL, OF ITS PROPERTY, WITH OR WITHOUT GOODWILL, OTHERWISE THAN IN THE USUAL AND REGULAR COURSE OF BUSINESS. FORM 990, PART VI, SECTION B, LINE 11B THE FOUNDATION'S AUDIT COMMITTEE REVIEWS THE FORM 990 IN DETAIL BEFORE IT IS FILED WITH THE IRS. IN ADDITION, THE FORM 990 IS PRESENTED TO THE ENTIRE BOARD OF DIRECTORS AT THEIR SCHEDULED MEETING FOR REVIEW AND APPROVAL BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL OFFICERS AND BOARD MEMBERS OF THE FOUNDATION ARE REQUIRED TO SIGN A CONFLICT OF INTEREST POLICY ANNUALLY, WHICH IS KEPT ON FILE. AT THE BEGINNING OF EACH BOARD MEETING, THE CHAIRMAN OF THE BOARD OF DIRECTORS ASKS FOR ANY NEW CONFLICTS TO BE DISCLOSED. THIS IS NOTED IN THE MINUTES FROM THE MEETING. ALL INDIVIDUALS COVERED BY THE POLICY HAVE A DUTY TO DISCLOSE ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST. IF A POTENTIAL CONFLICT OF INTEREST EXISTS, THE INDIVIDUAL(S) WILL BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE BOARD OF DIRECTORS AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AN INTERESTED PERSON MAY MAKE A PRESENTATION OF THE GOVERNING BOARD OR COMMITTEE MEETING, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSIONS OF, AND THE VOTE, ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. THE CHAIRMAN OF THE GOVERNING BOARD OR COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE WHETHER THE ORGANIZATION CAN OBTAIN, WITH REASONABLE EFFORTS, A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED BOARD OF DIRECTOR(S) WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION THE BOARD OF DIRECTORS SHALL MAKE ITS DECISION. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE IN CONJUNCTION WITH THE PRESIDENT OF THE UNIVERSITY WHICH THE FOUNDATION SUPPORTS COLLECTIVELY DETERMINE THE CEO'S COMPENSATION UTILIZING ROBUST COMPARABLE DATA BENCHMARKED AND UTILIZED BY THE UNIVERSITIES HUMAN RESOURCE DEPARTMENT. THE CEO IN CONJUNCTION WITH THE UNIVERSITY'S HUMAN RESOURCE DEPARTMENT DETERMINE THE COMPENSATION FOR KEY EMPLOYEES. BOTH PROCESSES WERE LAST REVIEWED AND APPROVED IN 2019 FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION MAKES AVAILABLE ITS FORM 1023, FORM 990 AND AUDITED FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. ITS GOVERNING DOCUMENTS AND POLICIES ARE NOT AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -1,091. CHANGE IN VALUE OF LIFE INSURANCE POLICIES 570. FORM 990, PART XII, LINE 2C THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. 965 SANTA FE LLC CAMPUS BOX 14 PO BOX 173362 DENVER CO 80217 271282938 RENT THE CENTER FOR VISUAL ARTS TO THE METROPOLITAN STATE UNIVERSITY CO 0 0 METROPOLITAN STATE UNIVERSITY OF DENVER FOUNDATION INC