2023-11-15T07:39:59-06:00 2022-12-31 010523282 Berry Dunn McNeil & Parker LLC 2211 Congress St Portland ME 04102 990 2022-01-01 016011501 University of Maine Foundation UNIV 2075815100 Two Alumni Place Orono ME 044695792 Kevin Frazier CFO 2075815100 2023-11-14 1 Kevin Frazier 999009999 1 Barbara J McGuan CPA P00219457 2077752387 2023-11-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z Jeffery Mills Two Alumni Place Orono ME 044695792 77032884 0 X www.umainefoundation.org X 1934 ME Fundraising and endowment management for the benefit of the University of Maine 8 8 46 50 -44903 0 12692378 24976069 1857053 3745055 7449889 12271152 128025 7364 22127345 40999640 8365014 37064315 0 0 2211386 4963865 0 0 3575227 1409582 2522665 11985982 44550845 10141363 -3551205 392570813 326235305 10636823 9362587 381933990 316872718 The University of Maine Foundation, acting as a separate organization, will work collaboratively with all entities to encourage philanthropic support for the University of Maine and other charitable organizations while carrying out the donor's wishes in perpetuity. 0 0 38405193 36945729 3745055 Gifts and endowment income distributed for scholarships and general support for the benefit of the University of Maine 299534 Distributions to trust, gift annuity and pooled income fund participants 118586 118586 Distributions of gifts and endowment income to other qualified charities 38823313 1 1 0 0 0 1 0 1 1 1 1 1 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 97 0 1 46 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA KY MD MA MI MN NH NJ NY OR SC UT X X Kevin Frazier 2075815100 Two Alumni Place Orono ME 04469 Robert A Strong Chair 1.00 0.00 X X 0 0 0 Todd D Saucier Vice Chair 1.00 0.00 X X 0 0 0 David M Austin Director 1.00 0.00 X 0 0 0 Donna L Hathaway Director/Past Vice Chair 1.00 0.00 X X 0 0 0 Christopher P Keating Director 1.00 0.00 X 0 0 0 Kenneth A Murray Director 1.00 0.00 X 0 0 0 Beth L Sturtevant Director 1.00 0.00 X 0 0 0 Dorothy Foster Vachon Director 1.00 0.00 X 0 0 0 Henry LP Schmelzer Past Director 1.00 0.00 X 0 0 0 Eldon L Morrison Past Director 1.00 0.00 X 0 0 0 Jeffery N Mills President/CEO 40.00 0.00 X 347081 0 73039 Kevin J Frazier CFO 40.00 0.00 X 174810 0 50460 Kurt R Marston Treasurer 1.00 0.00 X 0 0 0 Maria R Fuentes Secretary 1.00 0.00 X 0 0 0 Sarah J McPartland-Good General Counsel 40.00 0.00 X 163256 0 48454 Elizabeth M Erickson Senior Director of Philanthropy 40.00 0.00 X 156722 0 42797 Patricia A Cummings Senior Director of Philanthropy 40.00 0.00 X 165781 0 29261 Joyce Kennedy Senior Director of Philanthropy 40.00 0.00 X 148652 0 26596 Seth Woodcock Sr. Assoc. Athletic Dir. for Dev. 40.00 0.00 X 133836 0 13384 1290138 0 283991 11 0 1 0 Prime Buchholz 273 Corporate Drive Suite 250 Portsmouth NH 03801 Investment Consultant 244305 1 24976069 1242569 24976069 Advancement Svcs. Agreement Rev. 900099 3745055 3745055 3745055 2862908 -44903 2907811 45430084 11404 36019135 14109 9410949 -2705 9408244 9408244 Other Revenue 900099 7364 7364 7364 40999640 3745055 -44903 12323419 37064315 37064315 645391 160816 105402 379173 3027506 754381 494436 1778689 482075 56410 292659 133006 532783 132757 87011 313015 276110 68800 45093 162217 16396 16396 35523 35523 845793 845793 34388 8569 5616 20203 286139 71299 46731 168109 213980 53319 34946 125715 290110 72288 47379 170443 122090 30422 19939 71729 46592 11610 7609 27373 47729 11893 7795 28041 59859 14915 9776 35168 LIfe Income Participant 299534 299534 Fundraising Expenses 134087 134087 Dues & Subscriptions 55622 3308 44514 7800 Miscellaneous Expenses 34823 8677 5687 20459 44550845 38823313 2152305 3575227 X 4127801 4830904 33526331 27070286 4302687 3725634 24579 61440 20954 24840 24422 5965897 279759 5647404 5686138 245769620 197558571 88699467 77453626 10427130 9824284 392570813 326235305 2795231 1863703 1857053 1891002 4115871 3569399 1868668 2038483 10636823 9362587 X 17480206 16973472 364453784 299899246 381933990 316872718 392570813 326235305 X -3551205 -61507948 -2119 X 0 1 X 1 0 X 17509396 22662424 24172256 12692378 24976069 102012523 17509396 22662424 24172256 12692378 24976069 102012523 10534359 91478164 3470959 3664021 3599270 1864572 2862908 15461730 382940 187574 378541 128025 7364 1084444 118558697 16616436 0.77160 0.77040 X Schedule A, Part II, Line 10, Explanation of Other Income: Other Revenue - 2018 Amount: $ 382,940. 2019 Amount: $ 187,574. 2020 Amount: $ 378,541. 2021 Amount: $ 128,025. 2022 Amount: $ 7,364. Schedule A, Part II: The amounts in the 2021 column represent a short-year return, which covers the tax period of 7/1/21 - 12/31/21. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8 39197 99737 936711 1 1 353077 X See Part XIII 1 0 1 X 329042218 15016737 -49308140 7163103 3646091 283941621 310056194 7485520 17465348 3609647 2355197 329042218 228116879 16835609 75433325 6720682 3608937 310056194 227085170 7542263 2534235 6183838 2860951 228116879 220678744 9524762 6630029 6193943 3554422 227085170 0.02749 0.68882 0.28369 0 0 5558421 5558421 407476 279759 127717 5686138 Hedge Funds, Private Equity, and Venture Capital 77453626 F 77453626 Distributions Due to Life Income Beneficiaries 2038483 2038483 -21356220 -61507948 -61507948 40151728 845793 2119 847912 40999640 43705052 0 43705052 845793 845793 44550845 Part III, Line 4: The Foundation's collections are generally held for sale and the proceeds are used to further benefit the University of Maine. The Foundation's collections consist of various paintings, china and silver, jewelry and a Hummell collection. Part IV, Line 2b: Custodial accounts consist of funds of other qualified charities held at the Foundation for investment administrative purposes. Part V, Line 4: The Foundation aims to protect the purchasing power of the endowment by providing a rate of growth to keep pace with inflation and pay out an adequate amount of income to support the purpose of the endowment (scholarships, research, professorships, and other needs). Part XI, Line 4b - Other Adjustments: Decrease in Cash Surrender Value of Life Insurance 2,119. Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 Investments 55287081 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium 0 0 Investments 5068418 0 0 0 0 0 0 60355499 0 60355499 1 0 1 1 1 0 Part III Accounting Method: 1 Town of Searsmont PO Box 56 Searsmont ME 04973 010390148 Government 9764 0 Government United Methodist Church PO Box 33 Searsmont ME 04973 016013581 501(c)(3) 19529 0 General University of Maine University of Maine System Orono ME 04469 016000769 501(c)(3) 30980924 0 General University of Maine University of Maine System Orono ME 04469 016000769 501(c)(3) 5964805 0 Gifts transferred to University pursuant to the development service agreement. Ahavas Achim Society of Brotherly Love 23 Water Street 4th Floor Bangor ME 04401 016010406 501(c)(13) 19000 0 General 4 1 Part I, Line 2: The Foundation monitors the use of University grant funds by conducting an internal audit on a group of randomly selected funds each year. X X X 0 0 0 0 0 0 0 1 0 Jeffery N Mills President/CEO 290145 0 32200 0 24736 0 72039 0 1000 0 420120 0 0 0 Kevin J Frazier CFO 142595 0 10245 0 21970 0 25332 0 25128 0 225270 0 0 0 Sarah J McPartland-Good General Counsel 148124 0 10895 0 4237 0 16772 0 31682 0 211710 0 0 0 Elizabeth M Erickson Senior Director of Philanthropy 138522 0 10239 0 7961 0 16113 0 26684 0 199519 0 0 0 Patricia A Cummings Senior Director of Philanthropy 148724 0 10873 0 6184 0 16799 0 12462 0 195042 0 0 0 Joyce Kennedy Senior Director of Philanthropy 132579 0 8382 0 7691 0 15145 0 11451 0 175248 0 0 0 Part I, Line 7 At the discretion of the employer, employees may receive supplemental compensation contingent upon meeting both individual and organizational goals. The goals are not contingent upon the net earnings or revenues of the Organization. X 50 1223351 Comparable Sales X Life Insurance 1 19218 Cash Surrender Value 0 0 1 1 Part I, Line 32b: The Foundation uses third parties who are professionals for the sale of non-cash contributions such as art and securities. Form 990, Part VI, Section A, line 6 The Foundation has members. Form 990, Part VI, Section A, line 7a The Foundation is governed by membership which elects directors. Form 990, Part VI, Section A, line 7b The Foundation is governed by membership which elects directors. Form 990, Part VI, Section B, line 11b The information is provided to the preparer by the Manager of Accounting. A draft is completed, reviewed by the Manager of Accounting, the CFO, and President/CEO. A draft is also sent to all board members who are given a set amount of time to review and comment, typically two weeks. Form 990, Part VI, Section B, line 12c All new employees, board, and investment committee members complete and sign a conflict of interest disclosure statement. Any real or potential conflict is monitored and enforced in accordance with the conflict of interest policy. Form 990, Part VI, Section B, line 15 The Chair of the board reviews organization and personal goals and makes recommendations for executive compensation (President/CEO) to the board of directors. The University of Maine Foundation has established the following criteria for the process and evaluation: A. Approval by independent governing board in advance, composed entirely of individuals who do not have a conflict of interest. The President/CEO is not present at meetings. B. Reliance on comparable data through compensation surveys compiled by independent firms. C. Document basis for determination in board meeting minutes. Minutes reflect the terms of the transaction, date of approval, members of the governing board who were present and voted, the data used from the compensation surveys and peer institutions and how the data was obtained. The determination is summarized in an email letter from the board Chair to the President/CEO of The Foundation before any compensation is paid. Form 990, Part VI, Section C, line 19 Audited financial statement, donor bill of rights, and the Foundation's confidentiality policy can be found on our website, umainefoundation.org. A complete copy of the by-laws, conflict of interest policy and Form 990 are available upon request Form 990, Part X, Line 10: Land, Buildings, and Equipment Section 1.263(a)-3(n) Election: University of Maine Foundation Two Alumni Place Orono, ME 04469-5792 EIN 01-6011501 University of Maine Foundation is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n). Form 990, Part XI, line 9: Decrease in Cash Surrender Value of Life Insurance -2,119. Pooled Income Funds (2) Two Alumni Place Orono ME 04469 Split Interest Trust ME University of Maine Foundation T 903247 1 Charitable Lead Trusts (6) Two Alumni Place Orono ME 04469 Split Interest Trust ME University of Maine Foundation T 1982259 1 Charitable Remainder Trusts (14) Two Alumni Place Orono ME 04469 Split Interest Trust ME University of Maine Foundation T 3280528 1 Charitable Perpetual Trusts (6) Two Alumni Place Orono ME 04469 Split Interest Trust ME University of Maine Foundation T 1205526 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 Charitable Lead Trusts (6) S 175426 Annuity/Trust Payments