2023-11-07T11:00:17-06:00 2023-06-30 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2022-07-01 237034523 THE NORTHERN MICHIGAN UNIVERSITY FOUNDATION NORT 9062272627 1401 PRESQUE ISLE AVE 607 COHODAS MARQUETTE MI 49855 BRAD CANALE CHIEF EXECUTIVE OFFICER 9062272627 2023-11-06 1 BRAD CANALE 999009999 1 DORI J EGGETT P00645252 2695674500 2023-11-06 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z BRAD CANALE 1401 PRESQUE ISLE AVE 607 COHODAS MARQUETTE MI 49855 52720618 0 X HTTPS://FOUNDATION.NMU.EDU/ X 1968 MI THE NMU FOUNDATION WILL ESTABLISH AND FOSTER RELATIONSHIPS TO GENERATE RESOURCES THAT BENEFIT THE STRATEGIC GOALS OF NORTHERN MICHIGAN UNIVERSITY. 21 20 0 25 0 0 5213973 15734952 0 0 2452444 2273153 0 825 7666417 18008930 3489559 3094038 0 0 0 0 0 0 204682 761899 1716751 4251458 4810789 3414959 13198141 51572158 70883331 769689 4998225 50802469 65885106 X THE NMU FOUNDATION WILL ESTABLISH AND FOSTER RELATIONSHIPS TO GENERATE RESOURCES THAT BENEFIT THE STRATEGIC GOALS OF NORTHERN MICHIGAN UNIVERSITY. 0 0 1237152 1237152 SCHOLARSHIPS AND OTHER FINANCIAL AID - PROVIDING FINANCIAL ASSISTANCE TO STUDENTS, ENABLING THEM TO OBTAIN A COLLEGE EDUCATION. 695707 695707 ACADEMIC DEPARTMENTS AND PROGRAMS - PROVIDE SUPPORT TO NORTHERN MICHIGAN UNIVERSITY'S ACADEMIC DEPARTMENTS AND PROGRAMS TO INCREASE THE EDUCATIONAL OPPORTUNITIES FOR ITS STUDENTS. 417250 417250 PUBLIC RADIO - PROVIDE OPERATING FUNDS FOR NORTHERN MICHIGAN UNIVERSITY'S PUBLIC RADIO STATION, BENEFITING THE RESIDENTS OF THE CENTRAL PORTION OF THE UPPER PENINSULA OF MICHIGAN WHO CHOOSE TO LISTEN TO IT. 743929 743929 PUBLIC TELEVISION (412,867) - PROVIDE OPERATING FUNDS FOR NORTHERN MICHIGAN UNIVERSITY'S PUBLIC TV STATION, BENEFITING THE RESIDENTS OF THE CENTRAL PORTION OF THE UPPER PENINSULA OF MICHIGAN WHO CHOOSE TO VIEW IT. ATHLETICS (331,062) - PROVIDE SUPPORT FOR VARIOUS ATHLETIC PROGRAMS AT NORTHERN MICHIGAN UNIVERSITY, BENEFITING NORTHERN MICHIGAN UNIVERSITY ATHLETES, STUDENTS, AND AREA RESIDENTS. 743929 743929 3094038 1 1 0 0 0 0 0 0 0 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 1 0 0 0 1 0 0 0 1 15 0 1 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 21 20 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MI FL X BRAD CANALE 9062272627 1401 PRESQUE ISLE 607 COHODAS MARQUETTE MI 49855 BRAD M CANALE CHIEF EXECUTIVE OFFICER 40.00 0.00 X X 0 203540 89532 KEVIN C BOYLE SECRETARY/TREASURER 1.90 0.00 X X 0 0 0 JOHN F LIST PRESIDENT 1.90 0.00 X X 0 0 0 KATHERINE L MILLER VICE PRESIDENT 1.90 0.00 X X 0 0 0 JESSE W BELL TRUSTEE 0.60 0.00 X 0 0 0 WILLIAM W BOWERMAN TRUSTEE 0.60 0.00 X 0 0 0 WILLIAM W EDWARDS TRUSTEE 0.60 0.00 X 0 0 0 JOSEPH A EVANS TRUSTEE 0.60 0.00 X 0 0 0 NICOLE A GREGORY TRUSTEE 0.60 0.00 X 0 0 0 STEPHEN P LATUS TRUSTEE 0.60 0.00 X 0 0 0 MARK R LOVELL TRUSTEE 0.60 0.00 X 0 0 0 RUSSELL M MAGNAGHI TRUSTEE 0.60 0.00 X 0 0 0 GERARD J MOLITOR TRUSTEE 0.60 0.00 X 0 0 0 LISA M MUELLER TRUSTEE 0.60 0.00 X 0 0 0 DAVID R NERENZ TRUSTEE 0.60 0.00 X 0 0 0 MICHAEL R OSWALD TRUSTEE 0.60 0.00 X 0 0 0 MARK B PYNNONEN TRUSTEE 0.60 0.00 X 0 0 0 CURT L TUCKER TRUSTEE 0.60 0.00 X 0 0 0 CAROLE L WELTE TRUSTEE 0.60 0.00 X 0 0 0 JAMES C WELTE TRUSTEE 0.60 0.00 X 0 0 0 TIMOTHY P GREELEY TRUSTEE 0.60 0.00 X 0 0 0 0 203540 89532 0 0 1 0 0 15734952 6668817 15734952 1838230 1838230 35146611 34711688 434923 434923 434923 AUXILIARY INCOME 900099 825 825 825 18008930 0 0 2273978 3094038 3094038 65816 65816 84835 84835 120950 120950 95043 95043 287871 184331 103540 5040 40 5000 72599 24774 47825 75135 44763 30372 540646 540646 19673 7076 12597 2674 519 2155 293743 293743 26527 26527 BANK FEES 18478 18478 GUEST EXPENSES 7721 4528 3193 4810789 3094038 1512069 204682 206771 149301 566678 490398 1222108 2066971 3404200 3676393 38140 8051136 658540 1428679 7392596 40290424 53319896 3997011 3749636 456287 0 51572158 70883331 47904 275406 4000000 721785 722819 769689 4998225 X 5777213 16216454 45025256 49668652 50802469 65885106 51572158 70883331 13198141 1884496 0 X X 0 1 X 1 0 X 4576608 5620163 4219779 5213973 15734952 35365475 803774 817666 826439 840332 1060949 4349160 5380382 6437829 5046218 6054305 16795901 39714635 11586758 28127877 1546485 1471623 1040688 1895458 1838230 7792484 17577 25706 825 44108 47551227 0.59150 0.69710 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING - 2018 AMOUNT: $ 15,509. 2019 AMOUNT: $ 24,832. MISCELLANEOUS - 2018 AMOUNT: $ 2,068. 2019 AMOUNT: $ 874. 2022 AMOUNT: $ 825. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 37595317 1521597 2636778 1264947 -45821 40534566 43092526 1395914 -6365326 1157797 -630000 37595317 33244749 1482741 9350646 987610 -2000 43092526 31577251 2805760 -710212 1028050 -600000 33244749 29380334 2404834 599066 984513 -177530 31577251 0.03720 0.12660 0.83620 1 0 6363522 6363522 1151765 420377 731388 384292 107623 276669 151557 130540 21017 7392596 ALTERNATIVE INVESTMENTS 3749636 F 3749636 ANNUITIES PAYABLE 353339 DUE TO NORTHERN MICHIGAN UNIVERSITY 369480 722819 21354332 1884496 1555949 3440445 17913887 95043 95043 18008930 6271695 1555949 1555949 4715746 95043 95043 4810789 PART V, LINE 4: TO CULTIVATE AND PROMOTE THE PRIVATE PHILANTHROPIC SUPPORT OF NORTHERN MICHIGAN UNIVERSITY'S MISSION THROUGH A COMPREHENSIVE ADVANCEMENT EFFORT. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 3729636 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 INVESTMENTS 20000 0 0 0 0 0 0 3749636 0 3749636 1 0 1 1 0 0 PART III ACCOUNTING METHOD: 1 NORTHERN MICHIGAN UNIVERSITY 1401 PRESQUE ISLE AVE MARQUETTE MI 49855 386029206 115 412867 0 PUBLIC TELEVISION NORTHERN MICHIGAN UNIVERSITY 1401 PRESQUE ISLE AVE MARQUETTE MI 49855 386029206 115 417250 0 PUBLIC RADIO NORTHERN MICHIGAN UNIVERSITY 1401 PRESQUE ISLE AVE MARQUETTE MI 49855 386029206 115 331062 0 ATHLETIC PROGRAMS NORTHERN MICHIGAN UNIVERSITY 1401 PRESQUE ISLE AVE MARQUETTE MI 49855 386029206 115 1237152 0 SCHOLARSHIPS NORTHERN MICHIGAN UNIVERSITY 1401 PRESQUE ISLE AVE MARQUETTE MI 49855 386029206 115 666887 2500 RETAIL VALUE GIFT CARDS OTHER DEPARTMENTS AND PROGRAMS NORTHERN MICHIGAN UNIVERSITY 1401 PRESQUE ISLE AVE MARQUETTE MI 49855 386029206 115 0 11500 DONOR ESTIMATE ART OTHER DEPARTMENTS AND PROGRAMS NORTHERN MICHIGAN UNIVERSITY 1401 PRESQUE ISLE AVE MARQUETTE MI 49855 386029206 115 0 14820 RETAIL VALUE EQUIPMENT OTHER DEPARTMENTS AND PROGRAMS 1 0 PART I, LINE 2: ASSISTANCE TO SUPPORT NORTHERN MICHIGAN UNIVERSITY IS MADE BASED ON WRITTEN REQUESTS FROM THE UNIVERSITY THAT DOCUMENT THE PURPOSE AND USE OF THE FUNDS REQUESTED. 0 1 0 0 0 0 0 0 0 BRAD M CANALE CHIEF EXECUTIVE OFFICER 0 201013 0 0 0 2527 0 45127 0 44405 0 293072 0 0 PART I, LINE 3 NORTHERN MICHIGAN UNIVERSITY USES THE CUPA DATA COMPENSATION SURVEY TO ESTABLISH COMPENSATION FOR THE CHIEF EXECUTIVE OFFICER. PART I, LINE 4B UNDER THE TERMS OF AN EMPLOYMENT AGREEMENT (AGREEMENT) BETWEEN NORTHERN MICHIGAN UNIVERSITY (UNIVERSITY) AND BRAD CANALE (EMPLOYEE), THE CHIEF EXECUTIVE OFFICER OF THE NORTHERN MICHIGAN UNIVERSITY FOUNDATION, THE UNIVERSITY CONTRIBUTED TO A DEFERRED COMPENSATION ACCOUNT UNDER A CODE SECTION 457(F) PLAN IN THE AMOUNT OF $20,000 DEPOSITED ON OR AROUND JUNE 15TH OF EACH YEAR DURING THE AGREEMENT. THE AGREEMENT WAS EFFECTIVE SEPTEMBER 1, 2019 AND CONTINUED THROUGH JUNE 30, 2023. THE EMPLOYEE FULLY VESTED IN THE FULL AMOUNT CONTAINED IN THE DEFERRED COMPENSATION ACCOUNT (INCLUDING EARNINGS, IF ANY), AS OF JUNE 30, 2023, LESS APPLICABLE WITHHOLDINGS AND DEDUCTIONS. THE UNIVERSITY AND THE EMPLOYEE ENTERED INTO AN EMPLOYMENT AGREEMENT EFFECTIVE JULY 1, 2023 AND CONTINUING THROUGH JUNE 30, 2027 WITH SIMILAR DEFERRED COMPENSATION TERMS AS THE AGREEMENT EFFECTIVE SEPTEMBER 1, 2019. X 1 11500 DONOR ESTIMATE X 10 867511 FAIR MARKET VALUE X 1 5772486 APPRAISAL,PROP TAX VALUE X EQUIPMENT 1 14820 RETAIL VALUE X GIFT CARDS 1 2500 RETAIL VALUE 0 1 1 PART I, COLUMN (B): THE FOUNDATION REPORTS THE NUMBER OF CONTRIBUTIONS. PART I, LINE 32B: THE FOUNDATION USES APPROPRIATE SPECIALISTS TO SELL NONCASH CONTRIBUTIONS (E.G. BROKERS TO SELL STOCKS) FORM 990, PART VI, SECTION A, LINE 2 JAMES AND CAROLE WELTE ARE MARRIED. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE INDEPENDENT AUDITOR, CEO OF THE FOUNDATION, NORTHERN MICHIGAN UNIVERSITY'S CONTROLLER OFFICE, AND THE GOVERNING BOARD MEMBERS ON THE INVESTMENT, FINANCE & AUDIT COMMITTEE, WHICH IS CHAIRED BY THE BOARD TREASURER, AND INCLUDES THE BOARD PRESIDENT PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C THE EMPLOYEES FOLLOW THE CONFLICT OF INTEREST AND DISCLOSURE POLICY ESTABLISHED BY NORTHERN MICHIGAN UNIVERSITY, WHICH REQUIRES ANNUAL DISCLOSURE OF ANY POTENTIAL CONFLICTS OF INTEREST. THE GOVERNING BOARD SIGNS A CODE OF CONDUCT STATEMENT THAT IN PART REQUIRES THE BOARD MEMBER TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST. IF A POTENTIAL CONFLICT OF INTEREST IS DISCLOSED, THE REMAINING TRUSTEES OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. ANY TRUSTEE WITH A CONFLICT OF INTEREST SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 ALL FOUNDATION STAFF ARE EMPLOYEES OF NORTHERN MICHIGAN UNIVERSITY (NMU) AND FOLLOW THE ESTABLISHED COMPENSATION POLICIES AND PROCEDURES OF NMU. NMU IS COMMITTED TO FAIR AND EQUITABLE COMPENSATION PRACTICES FOR ALL ITS EMPLOYEES TO ENSURE A FAIR AND EQUITABLE COMPENSATION PROGRAM IS MAINTAINED. IT IS NMU'S POLICY THAT ALL COMPENSATION DETERMINATION WILL BE BASED ON CRITERIA AS STATED IN THE NMU COMPENSATION PLAN. NMU IS COMMITTED TO IMPLEMENTING AND MAINTAINING A FAIR AND EQUITABLE COMPENSATION PROGRAM THAT COMPLIMENTS THE REQUIRED DUTIES OF EACH POSITION AS WELL AS PERFORMANCE OF INDIVIDUAL WITHIN EACH POSITION. THE HUMAN RESOURCE DEPARTMENT HAS BEEN DESIGNATED THE PLAN ADMINISTRATOR. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION MAINTAINS ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS IN ITS OFFICE AND THEY ARE AVAILABLE DURING REGULAR BUSINESS HOURS. THE PUBLIC IS INVITED TO VIEW FINANCIAL INFORMATION THAT IS SHARED ON THE WEBSITE AND MADE AVAILABLE IN THE OFFICE. DOCUMENTATION IS ALSO AVAILABLE UPON WRITTEN REQUEST. FORM 990, PART XII, LINE 2C THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. NORTHERN MICHIGAN UNIVERSITY 1401 PRESQUE ISLE MARQUETTE MI 49855 386029206 EDUCATION MI 115 N/A N/A 0 0 1 1 0 0 0 0 0 0 1 0 1 1 1 1 1 1 0 1