2024-05-07T08:11:31-05:00 2023-09-30 454084437 WARREN AVERETT LLC 2500 ACTON ROAD BIRMINGHAM AL 35243 990 2022-10-01 562535892 AUBURN UNIVERSITY REAL ESTATE FOUNDATION INC AUBU 3348447048 317 SOUTH COLLEGE STREET AUBURN AL 368495170 ROB WELLBAUM PRESIDENT 3348447048 2024-04-26 1 ROB WELLBAUM 999009999 1 MEGAN RANDOLPH P00989558 2059794100 2024-04-26 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z ROB WELLBAUM 317 SOUTH COLLEGE STREET AUBURN AL 368495170 5399755 0 X AUBURNGIVING.ORG X 2005 AL THE ORGANIZATION OPERATES FOR THE EXCLUSIVE BENEFIT OF AUBURN UNIVERSITY FOUNDATION, A NONPROFIT CORPORATION WHICH WAS ORGANIZED FOR THE SUPPORT OF AUBURN UNIVERSITY, AN EDUCATIONAL, LAND-GRANT INSTITUTION. 6 6 13 1500 0 0 10224935 4285975 0 0 -65783 13116 -3112 62097 10156040 4361188 120645 1155204 0 0 33358 114127 0 0 35374 185286 154136 339289 1423467 9816751 2937721 19953551 21647679 1684450 1518623 18269101 20129056 THE ORGANIZATION OPERATES FOR THE EXCLUSIVE BENEFIT OF AUBURN UNIVERSITY FOUNDATION, A NONPROFIT CORPORATION WHICH WAS ORGANIZED FOR THE SUPPORT OF AUBURN UNIVERSITY, AN EDUCATIONAL, LAND-GRANT INSTITUTION. 0 0 619305 619305 ADMINISTRATION AND SALE OF REAL PROPERTY AND SUBSEQUENT TRANSFER OF NET PROCEEDS TO AUBURN UNIVERSITY TO BE USED FOR CAPITAL ASSETS FOR THE UNIVERSITY AND FOR THE COLLEGE OF FORESTRY, WILDLIFE AND ENVIRONMENT, AND ACADEMIC PURPOSES FOR THE COLLEGE OF ARCHITECTURE, DESIGN, AND CONSTRUCTION. 535899 535899 ADMINISTRATION AND SALE OF REAL PROPERTY AND SUBSEQUENT TRANSFER OF NET PROCEEDS TO AUBURN UNIVERSITY FOUNDATION FOR A COLLEGE OF VETERINARY MEDICINE NAMED ENDOWED SCHOLARSHIP FUND. 36377 EXPENSES INCURRED TO MANAGE AND MAINTAIN REAL PROPERTY IN ACCORDANCE WITH THE MISSION OF THE ORGANIZATION. 1191581 1 1 0 0 0 0 1 0 0 1 1 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 6 0 1 13 1 0 0 0 0 0 0 1 3 0 0 0 0 0 X 6 6 0 0 1 0 1 1 0 1 0 0 0 1 1 1 1 1 1 1 1 0 FL X X WILLIAM B HUGHES 3348447048 317 SOUTH COLLEGE STREET AUBURN AL 36849 X STEVE CATES CHAIR 0.50 2.46 X X 0 0 0 PATRICK HENRY VICE CHAIR AND TREASURER 0.50 1.46 X X 0 0 0 BENNY LARUSSA DIRECTOR 0.50 0.00 X 0 0 0 DAVID WELCH DIRECTOR 0.50 0.00 X 0 0 0 GREG WINCHESTER DIRECTOR 0.50 1.46 X 0 0 0 JOHN THOMAS DIRECTOR 0.50 0.00 X 0 0 0 RANDY CAMPBELL DIRECTOR THROUGH DEC 31, 2022 0.50 0.00 X 0 0 0 STEVEN R SPENCER DIRECTOR THROUGH DEC 31, 2022 0.50 0.00 X 0 0 0 JOHN MORRIS PRESIDENT THROUGH AUG 1, 2023 1.00 5.64 X 381318 62591 45304 ROB WELLBAUM PRESIDENT 0.00 9.74 X 224833 72369 49281 ERIN LEWIS CHIEF OPERATIONS OFFICER 0.00 9.06 X 218895 64098 38684 ANGIE STEPHENS VICE PRESIDENT 8.00 4.80 X 197122 26880 40571 TIMOTHY JONES INFORMATION SECURITY OFFICER 0.50 8.80 X 93995 18749 26657 WILLIAM B HUGHES CHIEF FINANCIAL OFFICER 4.00 23.56 X 54238 77727 27693 LAUREL HENDRIX ASSISTANT SECRETARY 1.50 22.48 X 34138 43803 15950 CAROLYN BURROUGHS ASSISTANT TREASURER 4.00 21.98 X 29057 35443 18437 WANDA SPEROW SECRETARY 1.00 36.14 X 8813 82511 22564 1242409 484171 285141 4 0 1 0 GARY INGRAM GRADING & PAVING 1767 GRIFFIN SHOALS ROAD DADEVILLE AL 36853 DRIVEWAY PAVING 677504 MID-AMERICA GOLF & LANDSCAPE 1621 SE SUMMIT STREET LEES SUMMIT MO 64081 LANDSCAPING AND CONSTRUCTION SERVICES 413963 2 460300 3825675 3886300 4285975 86051 86051 29869 30532 -663 -663 -663 935100 1008035 -72935 -72935 -72935 PROJECT MANAGEMENT FEE 561000 50000 50000 OTHER ACTIVITY RELATED 531390 12760 12760 62760 4361188 0 0 75213 1155204 1155204 114127 78753 35374 37095 37095 7001 2989 4012 9625 9625 7970 1709 6261 15230 5813 9417 ADMINISTRATIVE COSTS 61076 9727 51349 REPAIR AND MAINTENANCE 16139 16139 1423467 1191581 196512 35374 851432 605017 50000 3207948 3317419 160652 7174 76219 153478 15817952 17521765 19953551 21647679 15930 2606 1623323 1507898 45197 8119 1684450 1518623 X 5716188 5820706 12552913 14308350 18269101 20129056 19953551 21647679 X 2937721 -1193190 115424 X X 0 1 X 1 0 X 130000 517000 489354 3593154 4285975 9015483 130000 517000 489354 3593154 4285975 9015483 4293935 4721548 25430 21946 10564 20496 115920 194356 26 62760 62786 9272625 0.50920 0.59550 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: REFUND REVENUE - 2018 AMOUNT: $ 26. PROJECT MANAGEMENT FEE - 2022 AMOUNT: $ 50,000. EASEMENT INCOME - 2022 AMOUNT: $ 2,000. SALE FROM CONTENTS OF NOBLE HALL - 2022 AMOUNT: $ 10,760. SCHEDULE A, PART VI, LIST OF UNUSUAL GRANTS: DESCRIPTION: PROPERTY DATE: 09/01/22 AMOUNT: 4210963. DESCRIPTION: GOVERNMENT BONDS DATE: 09/01/22 AMOUNT: 1968024. DESCRIPTION: CASH DATE: 09/01/22 AMOUNT: 452794. DESCRIPTION: PROPERTY DATE: 12/29/20 AMOUNT: 3700000. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 111.60 0 0 1 0 0.00 0 8422823 28148 -415809 8035162 3016390 5465219 31220 90005 8422823 3925829 115354 94422 1119215 3016390 3382540 385000 158289 3925829 3484707 73264 175431 3382540 0.00000 1.00000 0.00000 0 0 160652 7174 153478 153478 INVESTMENT IN REAL ESTATE 17521765 17521765 DUE TO AUBURN UNIVERSITY 8119 8119 X 3386889 -1193190 115424 -1077766 4464655 -103467 -103467 4361188 1526934 72935 30532 103467 1423467 0 1423467 PART II, LINE 9: THE ACREAGE IN THE CONSERVATION EASEMENT IS REPORTED AS INVESTMENT IN REAL ESTATE IN THE REAL ESTATE FOUNDATION'S BALANCE SHEET. THE LAND WAS PURCHASED IN A BARGAIN SALE IN TAX YEAR 2021. PART V, LINE 4: $3,109,742 FOR ACADEMIC UNITS $123,801 FOR ADMINISTRATION $4,133,011 FOR CAPITAL $668,608 FOR STUDENT AID PART X, LINE 2: THE REAL ESTATE FOUNDATION HAS RECEIVED A LETTER FROM THE INTERNAL REVENUE SERVICE RECOGNIZING THE REAL ESTATE FOUNDATION AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE REAL ESTATE FOUNDATION FOLLOWS THE ACCOUNTING GUIDANCE FOR UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF FASB ACCOUNTING STANDARDS CODIFICATION (ASC), 740, INCOME TAXES. AS OF SEPTEMBER 30, 2023 AND 2022, THE REAL ESTATE FOUNDATION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AND NO INTEREST AND PENALTIES RELATED TO INCOME TAXES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 115,424. PART XI, LINE 4B - OTHER ADJUSTMENTS: REALIZED LOSS ON INVESTMENT IN REAL ESTATE -72,935. RENTAL EXPENSES -30,532. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 30,532. 1 AUBURN UNIVERSITY 107 SAMFORD HALL AUBURN AL 36849 630000724 115 619305 0 N/A N/A EQUIPMENT, ACADEMIC AND PROGRAMATIC FUNDING, AND FACILITIES AND BUILDINGS AUBURN UNIVERSITY FOUNDATION 317 SOUTH COLLEGE STREET AUBURN AL 36849 636022422 501(C)(3) 535899 0 N/A N/A ENDOWED UNDERGRADUATE SCHOLARSHIPS 2 0 PART I, LINE 2: THE GRANTEE, AUBURN UNIVERSITY, IS A SECTION 115 ENTITY. AS A LAND-GRANT INSTITUTION OF HIGHER EDUCATION, ITS MAJOR SOURCE OF FUNDS ARE FEDERAL AND STATE APPROPRIATIONS AND THEREFORE, ITS DISBURSEMENTS ARE GOVERNED BY FEDERAL AND ALABAMA STATE LAWS. ITS TRANSACTIONS ARE SUBJECT TO PUBLIC DISCLOSURE. THE AUBURN UNIVERSITY REAL ESTATE FOUNDATION, INC. (REAL ESTATE FOUNDATION) HAS ACCESS TO THE FINANCIAL RECORDS. GRANTS DESIGNATED FOR A SPECIFIC PURPOSE ARE CREDITED TO A FUND ESTABLISHED FOR THAT PURPOSE. THE UNIVERSITY'S BUSINESS AND FINANCE OFFICE ENSURES COMPLIANCE WITH THE FUND'S RESTRICTIONS SUBJECT TO ANY APPLICABLE LAWS. THE GRANTEE, AUBURN UNIVERSITY FOUNDATION, IS A SECTION 501(C)(3) ENTITY THAT IS THE SOLE MEMBER OF THE REAL ESTATE FOUNDATION. WITHIN ITS FINANCIAL SYSTEM, THE AUBURN UNIVERSITY FOUNDATION HAS FUNDS SPECIFICALLY ESTABLISHED FOR RECEIPTING AND ADMINISTERING THE GRANTS RECIEVED FROM THE REAL ESTATE FOUNDATION WHOSE SOLE PURPOSE IS TO BENEFIT AND SUPPORT THE AUBURN UNIVERSITY FOUNDATION. THE ADMINISTRATION/MANAGEMENT OF THE AUBURN UNIVERSITY FOUNDATION AND THE REAL ESTATE FOUNDATION ARE PERFORMED BY THE SAME PERSONNEL WHO HAVE ACESS TO BOTH FINANCIAL SYSTEMS FOR MONITORING. 0 0 0 0 0 0 0 0 0 JOHN MORRIS PRESIDENT THROUGH AUG 1, 2023 381318 62591 0 0 0 0 30385 4987 8724 1432 420427 69010 0 0 ROB WELLBAUM PRESIDENT 224833 72369 0 0 0 0 29768 9581 7683 2473 262284 84423 0 0 ERIN LEWIS CHIEF OPERATIONS OFFICER 218895 64098 0 0 0 0 22880 6700 7074 2072 248849 72870 0 0 ANGIE STEPHENS VICE PRESIDENT 197122 26880 0 0 0 0 26962 3677 8937 1219 233021 31776 0 0 WILLIAM B HUGHES CHIEF FINANCIAL OFFICER 54238 77727 0 0 0 0 7300 10461 4174 5982 65712 94170 0 0 X 1 545000 APPRAISAL X 2 3125000 APPRAISAL X 2 216300 APPRAISAL 2 0 1 1 PART I, COLUMN (B): COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTIONS. PART I, LINE 32B: AUBURN UNIVERSITY (UNIVERSITY) EMPLOYEES PERFORMED SERVICES FOR AUBURN UNIVERSITY REAL ESTATE FOUNDATION, INC. (REAL ESTATE FOUNDATION) AND AUBURN UNIVERSITY FOUNDATION (AU FOUNDATION) SINCE NEITHER OF THE FOUNDATIONS HAD EMPLOYEES. IN THE COURSE OF DAILY FUND RAISING AND GENERAL OPERATIONS OF THE ENTITIES, THE UNIVERSITY AND/OR THE AU FOUNDATION SOLICIT, PROCESS, OR DISPOSE OF NONCASH CONTRIBUTIONS. THE REAL ESTATE FOUNDATION RECEIVED, MANAGED, TRANSFERRED, AND SOLD REAL PROPERTY ON THEIR BEHALF. FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS WERE AMENDED TO REQUIRE A MINIMUM OF FIVE DIRECTORS. THE NUMBER OF VOTING MEMBERS CHANGED FROM 5 IN THE PREVIOUS YEAR TO 6 AS OF APRIL 20TH, 2023. FORM 990, PART VI, SECTION A, LINE 6 PER THE ARTICLES OF INCORPORATION, ARTICLE IV, "THE AUBURN UNIVERSITY FOUNDATION SHALL BE THE SOLE MEMBER OF THE CORPORATION." FORM 990, PART VI, SECTION A, LINE 7A THREE OF THE SIX-MEMBER BOARD OF DIRECTORS WERE APPOINTED BY THE AUBURN UNIVERSITY FOUNDATION BOARD. THREE NEW MEMBERS WERE ELECTED IN THE CURRENT YEAR BY THE EXISTING AUBURN UNIVERSITY REAL ESTATE FOUNDATION BOARD. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B THE RETURN WAS MADE AVAILABLE AND REVIEWED WITH THE FULL BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C A"CONFLICT OF INTEREST AND SELF-DEALING STATEMENT" IS PRESENTED TO ALL NEW MEMBERS & ANNUALLY TO RETURNING BOARD MEMBERS BY POLICY. THE STATEMENT INCLUDES THE POLICY AND AN AFFIRMATION SECTION THAT DOCUMENTS ANY POTENTIAL CONFLICT AND IS SIGNED BY EACH BOARD MEMBER. THIS SIGNED STATEMENT IS COLLECTED BY THE BOARD SECRETARY & THE RESULTS ARE REPORTED TO THE CHAIR OF THE BOARD FOR ANY NECESSARY FOLLOW-UP. FORM 990, PART VI, SECTION B, LINE 15 AUBURN UNIVERSITY REAL ESTATE FOUNDATION, INC. HAS NO EMPLOYEES; AUBURN UNIVERSITY IS THE COMMON PAYMASTER FOR AUBURN UNIVERSITY REAL ESTATE FOUNDATION, INC. COMPENSATION IS BASED ON MARKET SURVEYS AND INTERNAL DATA COMPILED BY AUBURN UNIVERSITY'S HUMAN RESOURCES. AUBURN UNIVERSITY HAS A COMPENSATION COMMITTEE THAT MAY CONSIDER AND PROVIDE RECOMMENDATIONS TO THE BOARD ON POLICIES RELATED TO TOTAL COMPENSATION OF UNIVERSITY EMPLOYEES BALANCING GOOD STEWARDSHIP OF INSTITUTIONAL RESOURCES WITH PROMOTION OF A QUALITY WORK FORCE BY PROVIDING COMPETITIVE COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION MAKES THE FOLLOWING GOVERNING DOCUMENTS AVAILABLE ON ITS WEBSITE AT WWW.AUBURNGIVING.ORG: FORM 990, AND DETERMINATION LETTER. THE AUDITED FINANCIAL STATEMENTS WERE CONSOLIDATED INTO AUBURN UNIVERSITY FOUNDATION'S AUDITED FINANCIAL STATEMENTS, WHICH ARE PUBLIC DOCUMENTS. THE FOUNDATION'S AUDIT REPORTS AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON WRITTEN REQUEST TO THE FOUNDATION'S SECRETARY. FORM 990, PART VII, SECTION A: AUBURN UNIVERSITY IS THE COMMON PAYMASTER FOR AUBURN UNIVERSITY REAL ESTATE FOUNDATION, INC. AS SUCH, COMPENSATION FROM AUBURN UNIVERSITY IS REPORTED AS COMPENSATION FROM THE FILING ORGANIZATION. REPORTABLE COMPENSATION IS BASED ON THE CALENDAR YEAR ENDING WITHIN THE ORGANIZATION'S TAX YEAR. FORM 990, PART XI, LINE 9: CHANGE IN VALUATION OF SPLIT-INTEREST AGREEMENTS 115,424. FORM 990, PART XII, LINE 2C: PROCESS HAS NOT CHANGED FROM PRIOR YEAR. AUBURN UNIVERSITY FOUNDATION 317 S COLLEGE STREET AUBURN AL 36849 636022422 SUPPORT AUBURN UNIVERSITY AL 501(C)(3) 170(B)(1)(A) (VI) N/A 0 0 1 1 1 0 0 0 0 0 0 0 1 1 1 1 1 1 0 1 AUBURN UNIVERSITY FOUNDATION B 535899 COST AUBURN UNIVERSITY FOUNDATION C 460300 COST AND FAIR MARKET VALUE AUBURN UNIVERSITY FOUNDATION D 109471 COST