2024-05-13T10:42:27-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 8390 EAST CRESCENT PARKWAY SUITE 300 GREENWOOD VILLAGE CO 80111 990 2022-07-01 300023422 THE UNIVERSITY OF TOLEDO FOUNDATION REAL ESTATE CORP UTFO 4195307730 4510 DORR ST MS 820 TOLEDO OH 43615 RANDY ROTHENBUHLER CHIEF FINANCIAL OFFICER 4195307730 2024-05-10 1 RANDY ROTHENBUHLER XXX-XX-XXXX 1 SARAH HINTZ P00492291 3037795710 2024-05-04 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z RANDY ROTHENBUHLER 4510 DORR ST MS 820 TOLEDO OH 43615 63735 0 X WWW.UTFOUNDATION.ORG X 2001 OH ACQUIRES AND HOLDS TITLE TO REAL PROPERTY FOR THE BENEFIT OF THE UNIVERSITY OF TOLEDO. 7 7 0 8 0 0 0 0 0 0 0 0 49889 27982 49889 27982 0 0 0 0 0 0 0 0 0 0 0 0 0 49889 27982 1169158 2399552 8311925 9514337 -7142767 -7114785 THE UNIVERSITY OF TOLEDO FOUNDATION REAL ESTATE CORPORATION ACQUIRES, HOLDS TITLE TO, AND COLLECTS INCOME FOR REAL PROPERTY FOR THE BENEFIT OF THE UNIVERSITY OF TOLEDO. 0 0 0 0 0 THE UNIVERSITY OF TOLEDO FOUNDATION REAL ESTATE CORP ACQUIRES AND HOLDS TITLE TO REAL PROPERTY FOR THE BENEFIT OF THE UNIVERSITY OF TOLEDO. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 0 X RANDY ROTHENBUHLER 4195307730 4510 DORR ST MS 820 TOLEDO OH 43615 BRENDA LEE PRESIDENT AND CEO 2.00 38.00 X 0 244096 28119 DONNA WELCH - VP OF FINANCE AND CFO (THROUGH 10/10/22) 5.00 35.00 X 0 147729 23890 RANDY ROTHENBUHLER CFO 5.00 35.00 X 0 106292 17263 ROBIN WHITNEY CHAIR 1.00 1.00 X X 0 0 0 SHERI BOKROS VICE-CHAIR 1.00 1.00 X X 0 0 0 GERALD MILLER TRUSTEE 1.00 1.00 X 0 0 0 GEORGE LATHROP TRUSTEE 1.00 1.00 X 0 0 0 STEVEN D REINBOLT TRUSTEE 1.00 0.00 X 0 0 0 MATTHEW RUBIN TRUSTEE 1.00 1.00 X 0 0 0 TRACY SALLAH TRUSTEE 1.00 0.00 X 0 0 0 0 498117 69272 0 0 1 0 0 63735 35753 27982 27982 27982 27982 0 0 27982 0 0 0 0 340630 231608 24717 2407375 264148 828528 2143227 1169158 2399552 1450 15506 6971 6971 8303504 9491860 8311925 9514337 X -7142767 -7114785 -7142767 -7114785 1169158 2399552 27982 0 X X 0 1 X 1 0 2003307 2003307 404068 264148 139920 2143227 RELATED PARTY PAYABLE 9491860 9491860 X 46922422 46858687 46858687 63735 -35753 -35753 27982 33551117 33515364 33515364 35753 -35753 -35753 0 PART X, LINE 2: THE CORPORATION IS INCORPORATED UNDER THE LAWS OF THE STATE OF OHIO AS A NONPROFIT CORPORATION AND IS EXEMPT FROM STATE AND LOCAL INCOME TAXES. THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE CORPORATION IS A TAX-EXEMPT ORGANIZATION AS DEFINED UNDER SECTION 501(C)(25) OF THE INTERNAL REVENUE CODE. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE CORPORATION AND RECOGNIZE A TAX LIABILITY IF THE CORPORATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CORPORATION AND HAS CONCLUDED THAT AS OF JUNE 30, 2022 AND 2021 THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OF DISCLOSURE IN THE FINANCIAL STATEMENTS. THE CORPORATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. PART XI, LINE 2D - OTHER ADJUSTMENTS: UTF REVENUE - SEPARATE REPORTING ENTITY 46,858,687. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -35,753. PART XII, LINE 2D - OTHER ADJUSTMENTS: UTF EXPENSES- SEPARATE REPORTING ENTITY 33,515,364. PART XII, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -35,753. 0 0 0 BRENDA LEE PRESIDENT AND CEO 0 241087 0 0 0 3009 0 17128 0 10991 0 272215 0 0 DONNA WELCH - VP OF FINANCE AND CFO (THROUGH 10/10/22) 0 147729 0 0 0 0 0 10222 0 13668 0 171619 0 0 PART I, LINE 3 COMPENSATION FOR THE CEO AND CFO IS PROVIDED BY THE RELATED ORGANIZATION, THE UNIVERSITY OF TOLEDO FOUNDATION. THE REAL ESTATE CORP SHARES EMPLOYEES AS WELL AS THE HR FUNCTION. COMPENSATION IS DETERMINED BY THE PREVAILING MARKET RATE. METHODS USED TO ESTABLISH COMPENSATION INCLUDE INDEPENDENT COMPENSATION CONSULTANT,COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE OF THE RELATED ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 6 THE UNIVERSITY OF TOLEDO FOUNDATION IS THE SOLE MEMBER OF THE UNIVERSITY OF TOLEDO FOUNDATION REAL ESTATE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A THE UNIVERSITY OF TOLEDO FOUNDATION APPROVES THE ELECTION OF ALL BOARD MEMBERS OF THE UNIVERSITY OF TOLEDO FOUNDATION REAL ESTATE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7B THE UNIVERSITY OF TOLEDO FOUNDATION BOARD OF DIRECTORS APPROVES ALL ACTIONS OF THE UNIVERSITY OF TOLEDO FOUNDATION REAL ESTATE CORPORATION BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT PRESENTS THE BOARD OF TRUSTEES - FINANCE AND AUDIT COMMITTEE WITH THE FINAL FORM 990 ALONG WITH A LIST OF MANAGEMENT ASSERTIONS REGARDING THE COMPLETENESS AND ACCURACY OF THE FORM AND THE EXISTENCE OF THE POLICIES AND PROCEDURES DOCUMENTED IN FORM 990. THE FINANCE AND AUDIT COMMITTEE IS CHARGED TO PROVIDE THE REVIEW AND APPROVAL FUNCTION OF FORM 990 FOR THE BOARD OF TRUSTEES. A FINAL COPY OF FORM 990 IS PROVIDED TO EACH MEMBER OF THE BOARD OF TRUSTEES FOR COMMENT BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, THE MEMBERS OF THE BOARD OF TRUSTEES FOR THE UNIVERSITY OF TOLEDO FOUNDATION REAL ESTATE CORP ARE REQUIRED TO COMPLETE TRUSTEE DISCLOSURE STATEMENTS WHICH AFFIRMS EACH MEMBER RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY, AND AGREES TO COMPLY WITH THE POLICY. TRUSTEES ARE REQUIRED TO DISCLOSE ANY FAMILY AND BUSINESS RELATIONSHIPS, FINANCIAL INTEREST, AND THE STATUS OF THEIR INDEPENDENCE. TRUSTEES ARE ALSO REQUESTED BY THE BOARD OR COMMITTEE CHAIR TO DISCLOSE ANY ACTUAL OR POSSIBLE CONFLICTS BEFORE VOTING ON MATTERS RELATED TO AWARDING BUSINESS WITH THE FOUNDATION. ALL DISCLOSURE STATEMENTS ARE REVIEWED BY THE COMMITTEE OF TRUSTEES AND MAINTAINED BY THE PRESIDENT OF THE FOUNDATION TO DETERMINE EXISTENCE OF A CONFLICT. ANY DISCLOSED OR IDENTIFIED ACTUAL OR POSSIBLE CONFLICTS ARE DISCUSSED WITH THE CHAIR OF THE BOARD OF TRUSTEES AND MAY BE PRESENTED TO THE EXECUTIVE COMMITTEE FOR DISCUSSION AND RESOLUTION. ANY FINANCIAL INTERESTS DISCLOSED PRIOR TO ACTION BEING TAKEN AT A MEETING SHALL BE DISCUSSED WITH THE INTERESTED PERSON. THE REMAINING TRUSTEES OR COMMITTEE MEMBERS SHALL DETERMINE IF A CONFLICT EXISTS BY VOTE AND THE RESULTS WILL BE RECORDED IN THE MINUTES. THE CHAIR OR COMMITTEE MAY APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE ARRANGEMENT IN QUESTION. THE BOARD OR COMMITTEE WILL EXERCISE DUE DILIGENCE AND DETERMINE IF MORE ADVANTAGEOUS ARRANGEMENTS CAN BE REASONABLY MADE THAT WOULD NOT BE A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS OPTION IS NOT REASONABLY ATTAINABLE, THE BOARD OR COMMITTEE WILL DETERMINE BY A MAJORITY VOTE IF THE ARRANGEMENT IN QUESTION IS IN THE BEST INTEREST OF THE FOUNDATION AND IF IT IS FAIR AND REASONABLE. MEMBERS THAT FAIL TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST WILL BE AFFORDED THE OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. THE BOARD OR COMMITTEE MAY CONDUCT FURTHER INVESTIGATION IF WARRANTED. THE BOARD OR COMMITTEE WILL THEN DETERMINE WHETHER A FAILURE TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTERST RESULTS IN DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY OF TOLEDO FOUNDATION REAL ESTATE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSEEING AND SELECTING AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. THE UNIVERSITY OF TOLEDO FOUNDATION 4510 DORR ST MS 820 TOLEDO OH 43615 346555110 TO SUPPORT THE UNIVERSITY OF TOLEDO AND THE STUDENTS OF THE UNIVERSITY OH 501(C)(3) LINE 5 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 1 0 0 0 0