2024-05-14T11:09:33-07:00 2023-06-30 135381590 BDO 8401 Greensboro Drive 800 McLean VA 22102 990 2022-07-01 521125663 UNIVERSITY OF MARYLAND FOUNDATION INC UNIV 3014458040 3300 Metzerott Rd Adelphi MD 20783 Tom Gilbert CFO 3014451922 2024-05-14 1 Tom Gilbert 999009999 1 Marc Berger P01871563 7038930600 2024-05-14 1 11 1 AAL2 X 2022 2023-04-26 12:10:37Z University System of Maryland Foundation Inc Tom Gilbert 3300 Metzerott Rd Adelphi MD 20783 46926208 0 X www.usmf.org X 1979 MD The University System of Maryland Foundation supports public higher education in Maryland through philanthropy, asset management, and stewardship. 45 45 33 200 -1323926 50207 51139865 24021158 1051784 756391 39279341 15194367 5607618 6903449 97078608 46875365 17736583 17845911 0 0 5893319 6496125 0 0 2016357 12824775 16450222 36454677 40792258 60623931 6083107 2188081766 2282585813 1686160585 1764724917 501921181 517860896 The University System of Maryland Foundation, Inc promotes, galvanizes and supports the advancement of public higher education in Maryland through leadership and engagement in philanthropy, asset management, and stewardship. The Foundation supports the University System of Maryland's (USM) ability to broaden access to high-quality higher education, meet the workforce needs of the state and the nation, and conduct research that expands the boundaries of knowledge. The USM Foundation provides campaign and strategic fundraising leadership support and professional development opportunities to our institutions, centers, and their affiliated foundations. The Foundation's $2.09 billion in managed assets support student scholarships, endowed faculty chairs, university research, and academic programs. Along with asset management, the Foundation administers grants, gifts and payroll services. 0 0 25285278 17845911 7141448 Higher Education: Support the academic programs of the University System of Maryland institutions through payments for salaries and benefits, equipment, scholarships, conferences, workshops, services, academic memberships, research activities and other expenses 338187 0 426072 Educational Programs: Maintain the Wye Black Angus Herd used for research by the University of Maryland-College Park School of Agriculture 0 0 0 25623465 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 0 1 0 0 1 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 1 351 0 1 33 1 1 1 1 CJ UK 0 0 0 1 1 0 0 0 0 0 0 X 45 45 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AR AZ CA CO CT DC DE GA HI IA ID IL IN KS KY MA MD ME MI MN MO MT ND NE NH NJ NM NV NY OH OK OR PA RI SC SD TN TX UT VA VT WA WI WY X Tom Gilbert 3014452720 3300 Metzerott Rd Adelphi MD 20783 Sharcus Steen Director of Investments/Interim CIO 40 0 X 827976 0 39877 Samuel Gallo CIO/Departing CIO 40 0 X 470009 0 34677 Leonard R Raley Chief Executive Officer 40 0 X 407557 0 48198 Chris Ingram Senior Sustainability & Public Markets Analyst 40 0 X 360236 0 42295 Chad Mitchell Senior Investment Analyst 40 0 X 364511 0 37755 Charlie Sexton Senior Investment Analyst 40 0 X 365407 0 29844 Tom Gilbert Chief Financial Officer 40 0 X 337896 0 44942 Ralph Partlow General Counsel 40 0 X 208867 0 28630 Roy Hossler Director of Business Operations 40 0 X 188942 0 32754 Gregory S Abel Director 0 0 X 0 0 0 Joe N Ballard Director 0 0 X 0 0 0 Anirban Basu Director 0 0 X 0 0 0 Larry Boggs Director 0 0 X 0 0 0 Joseph Bowen Director 0 0 X 0 0 0 Hugh Breslin Director 0 0 X 0 0 0 Hope Brown Director 0 0 X 0 0 0 Alan Cason Director 0 0 X 0 0 0 Sara Fernandez Cendon Director 0 0 X 0 0 0 Christine Chandler Director 0 0 X 0 0 0 Mary Clapsadddle Director 0 0 X 0 0 0 Charles Cole Director 0 0 X 0 0 0 William Couper Director 0 0 X 0 0 0 B Gary Dando Director 0 0 X 0 0 0 Gail Elmore Director 0 0 X 0 0 0 Christopher Evans Director 0 0 X 0 0 0 V Raymond Ferrara Director 0 0 X 0 0 0 Eric Francis Director 0 0 X 0 0 0 Linda Gooden Director 0 0 X 0 0 0 Barry Gossett Director 0 0 X 0 0 0 Joseph R Hardiman Director 0 0 X 0 0 0 Frank Islam Director 0 0 X 0 0 0 Harry Johnson Director 0 0 X 0 0 0 Robert Owen Johnson Director 0 0 X 0 0 0 Linda Ellen Jones Director 0 0 X 0 0 0 Viju Joseph Director 0 0 X 0 0 0 Brian Meenaghan Director 0 0 X 0 0 0 Robert Milkovich Director 0 0 X 0 0 0 Paul H Mullan Director 0 0 X 0 0 0 Patricia D Murray-Newby Director 0 0 X 0 0 0 J Mitchell Neitzey Director 0 0 X 0 0 0 Brian Nelson Director 0 0 X 0 0 0 Craig Norhtrop Director 0 0 X 0 0 0 Sang Oh Director 0 0 X 0 0 0 Alicia Ritchie Director 0 0 X 0 0 0 Lonnie Robbins Director 0 0 X 0 0 0 Donald Scheeler Director 0 0 X 0 0 0 Kimberly Stokes Director 0 0 X 0 0 0 Thomas Schweizer Jr Director 0 0 X 0 0 0 Bonnie Stein Director 0 0 X 0 0 0 Jose Antonio Tijerino Director 0 0 X 0 0 0 Stacey Ullrich Director 0 0 X 0 0 0 David Vahos Director 0 0 X 0 0 0 Alexandra von Paris Director 0 0 X 0 0 0 David Young Director 0 0 X 0 0 0 Crystal Watkins-Johansson Director 0 0 X 0 0 0 Alicia Wilson Director 0 0 X 0 0 0 3531401 0 338972 12 0 1 0 TCI Custom House Plaza Block 6 Dublin Ireland EI Investment Manager 2663981 Rock Creek 1133 Connecticut Avenue NW Suite 810 Washington DC 20036 Investment Manager 2295188 Blue Owl 399 Park Ave 38th Floor New York NY 10022 Investment Manager 2162511 Hamilton Lane One Presidential Blvd Fourth Floor Bala Cynwyd PA 19004 Investment Advisor 2105479 Chatham Asset High Yield 100 Huntington Ave Boston MA 02116 Investment Manager 1877698 86 0 1914902 47515 0 1900500 20158241 181870 24021158 Wye Herd Operations 111000 426072 426072 0 0 Contracts Under Grant Agreements 611310 309799 309799 0 0 Conference Revenue 611310 20520 20520 0 0 0 0 0 0 756391 7782764 0 -1362874 9145638 0 0 0 0 6789 0 0 6789 0 0 0 0 0 0 0 0 0 0 7411603 0 0 0 7411603 0 7411603 0 0 7411603 96686 47515 50843 45843 0 45843 0 0 0 0 0 0 740 0 740 0 0 740 Management Fees 525990 6186009 6186009 0 0 Other 900099 625120 625120 0 0 Affinity Card Revenue 900099 38948 0 38948 0 0 0 0 0 6850077 46875365 7567520 -1323926 16610613 X 9563260 9563260 8282651 8282651 0 0 0 0 1424329 0 1424329 0 0 0 0 0 3932055 246434 3636254 49367 318127 18673 296304 3150 365269 14056 351213 0 456345 17147 435212 3986 0 0 0 0 163474 0 163474 0 208954 0 208954 0 0 0 0 0 0 0 67174 0 66828 346 4794840 3420355 1165004 209481 67900 54959 12941 0 359909 161634 189847 8428 0 0 0 0 0 0 0 0 224526 54270 170256 0 571803 429465 142338 0 0 0 0 0 1283281 1213349 69932 0 0 0 0 0 0 0 0 0 23322 0 23322 0 275921 0 275921 0 Miscellaneous 3008032 75072 2932960 0 Transfers to Affiliated Foundations 1757894 0 238326 1519568 Public Relations 1596847 1131088 321368 144391 Equipment 1545476 558991 986485 0 500869 382061 41168 77640 40792258 25623465 13152436 2016357 186615 206000 0 0 20301464 15638422 245451 216863 0 0 0 0 0 0 0 0 114187 156115 15173999 2785957 12341190 12388042 345899429 337902675 1805012603 1912482448 0 0 0 0 3980827 3595248 2188081766 2282585813 5489289 3537939 0 0 1747307 2410368 0 0 0 0 0 0 0 0 0 0 1678923989 1758776610 1686160585 1764724917 X 87508955 84675647 414412226 433185249 501921181 517860896 2188081766 2282585813 X 6083107 12090173 0 -1994454 0 -239111 X 0 1 X 1 0 X 18424201 34402140 37619695 51139865 24021158 165607059 18424201 34402140 37619695 51139865 24021158 165607059 14013804 151593255 5909150 3833329 8054188 -124389 9152427 26824705 0 865787 0 894114 97050 1856951 4197982 4901100 5289087 5593088 6811129 26792386 221081101 757131 0.68569 0.72147 X Schedule A, Part II, Line 10 Management Fees RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 51650 9732634 0 0 X 0 403225000 10665000 25136000 9293000 5845000 17000 423871000 387783000 9980000 18787000 9006000 2904000 1415000 403225000 296688000 34716000 75869000 9071000 9546000 873000 387783000 282372000 23085000 748000 8050000 1455000 12000 296688000 269614000 4950000 19803000 8376000 3514000 105000 282372000 0.14 0.75 0.11 0 0 0 2322187 2322187 0 0 0 0 0 0 0 0 0 3119178 2785957 333221 0 9732634 0 9732634 12388042 0 0 Private NAV 737525479 F Seperately Managed Accounts 460834330 F Active Public - NAV 337160070 F Intermediate - NAV 199349079 F Diversifying - NAV 97148121 F Liquid Credit - NAV 80465369 F 1912482448 0 Due to Other Foundations 1755318968 Split Interest Agreements 3457642 1758776610 X Schedule D, Part III, Line 4 Works of Art on display at institutions for educational purposes Schedule D, Part V, Line 4 The Endowment funds are used to broaden acess to higher education, meet the workforce needs of the state and fund research Schedule D, Part X, Line 2 Authoritative guidance on accounting for uncertainty in income taxes clarifies the accounting for the uncertainty of the income tax positions defines the threshold for recognizing tax return positions in the financial statements as "more likely than not" that the position is sustainable, based on technical merits, and provides guidance on the measurement, classification and disclosure of tax return positions in the Financial Statements. No Assets or Liability has been recorded as of June 30, 2023 and 2022 for the uncertain tax positions. The Foundation is no longer subject to US Federal or State examinations by tax authorities for the fiscal years before June 30, 2020. Central America and the Caribbean 0 0 Investments Investments of Funds 202447201 Europe (including Iceland and Greenland) 0 0 Investments Investments of Funds 181850142 North America (including Canada and Mexico, but not the United States) 0 0 Program Services Collaboration of Education 108560 Europe (including Iceland and Greenland) 0 0 Program Services Collaboration of Education 87506 South Asia 0 0 Program Services Collaboration of Education 4250 East Asia and the Pacific 0 0 Program Services Collaboration of Education 2580 Sub-Saharan Africa 0 0 Program Services Collaboration of Education 1500 0 0 384501739 1 0 1 1 1 0 Shields Memorial 31476 3125 28351 0 0 0 0 0 5963 UMES Baseball Program 31791 14862 16929 0 0 0 0 0 4122 12 80934 29528 51406 0 0 0 0 0 40758 144201 47515 96686 0 0 0 0 0 50843 50843 45843 1 University of Maryland College Park 1115 Lee Building College Park MD 20742 526002033 3865750 0 Program Services UMBC 1000 Hilltop Circle Baltimore MD 21250 526002033 2917280 0 Program Services UMES 1 Backbone Road Princess Anne MD 21853 526002033 1408973 0 Program Services UMCES PO Box 775 Cambridge MD 21613 526002033 1049837 0 Program Services University of Maryland Baltimore 601 West Lombard Street Suite 206 Baltimore MD 21201 526002033 269113 0 Program Services University of Maryland Surgical Associates PO Box 62523 Baltimore MD 21264 521557551 52307 0 Program Services 6 0 Various Scholarships 1520 8282651 0 Fair Value Schedule I, Part I, Line 2 The USM financial aid officers review and approve all scholarship requests ensuring the student's eligibility within the established criteria. Funds are used for tuition fees, room and board or an award for outstanding performances. The Foundation monitor's grant activity by ensuring that the receiving organizations are eligible to accept funds and have the capacity to perform the grant research. All disbursements are verified against the grant budget. The Foundation also receives financial reports periodically and reserves the right to audit the original issue. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 Sharcus Steen Director of Investments/Interim CIO 464226 0 363750 0 0 0 22112 0 17765 0 867853 0 0 0 Samuel Gallo CIO/Departing CIO 468509 0 1500 0 0 0 22112 0 12565 0 504686 0 0 0 Leonard R Raley Chief Executive Officer 364733 0 1500 0 41324 0 22112 0 26086 0 455755 0 0 0 Chris Ingram Senior Sustainability & Public Markets Analyst 215736 0 144500 0 0 0 22112 0 20183 0 402531 0 0 0 Chad Mitchell Senior Investment Analyst 220011 0 144500 0 0 0 22112 0 15643 0 402266 0 0 0 Charlie Sexton Senior Investment Analyst 220907 0 144500 0 0 0 22112 0 7732 0 395251 0 0 0 Tom Gilbert Chief Financial Officer 336396 0 1500 0 0 0 22112 0 22830 0 382838 0 0 0 Ralph Partlow General Counsel 207367 0 1500 0 0 0 15143 0 13487 0 237497 0 0 0 Roy Hossler Director of Business Operations 187442 0 1500 0 0 0 13698 0 19056 0 221696 0 0 0 Schedule J, Part I, Line 1a There is a tax gross up on certain taxable benefits to the Foundation's Chief Executive Officer X 32 51650 Fair Market Value X 36 130220 Fair Market Value 0 1 0 Form 990, Header, Line C The University of Maryland Foundation, Inc DBA also includes the University of Maryland Baltimore County Foundation, the University of Maryland Global Campus Foundation, the University of Maryland Eastern Shore Foundation, the Universities of Shady Grove Foundation, the University of Maryland Center for Environment Center Science Foundation and the University System of Maryland at Hagerstown Foundation. Form 990, Part VI, Section A, Line 2 Director Vahos and Director Ulrich are officers for the same company which constitutes a business relationship Form 990, Part VI, Section B, Line 11b This form is reviewed by the CFO and the upper level financial staff at the USMF office. The Board of Directors then delegates the detailed review of the 990 form to the Audit Committee. Once reviewed, the document is forwarded to the full board with notation of the Audit Committee for comment from all the Directors, prior to the filing of the Form 990. Form 990, Part VI, Section B, Line 12c The Foundation monitors and enforces the Conflict of Interest Policy through the Foundation's General Counsel who reviews and reports to the Governance Committee and the Audit Committee. The Governance Committee decides if any action is warranted. Form 990, Part VI, Section B, Line 15 The Executive Committee of the Board overseas the compensation process which includes their review and approval of CEO and CIO compensation - supported by the review of comparability studies and evaluation and discussion of performance Form 990, Part VI, Section C, Line 17 See Schedule O, statement 3 Form 990, Part VI, Section C, Line 19 All documents are made available on our website. Form 990, Part IX, Line 11g This includes Outside Services, Research and Non Student Awards Form 990, Part IX, Line 24a - 24d Line 24A - Miscellaneous Expense - A settlement of a personnel matter regarding a former employee resulted in a net loss of $2.9 million during the fiscal year. The total settlement of $5.65M was offset by insurance proceeds of $2.75M. The net impact is included in management and general expenses. Form 990, Part XI, Line 9 Includes transfers per Board Resolutions and Change in Value of Split-Interest Agreements USMF Corporation 3300 Metzerott Road Adelphi MD 20783 201910815 Holding Company MD USM Foundation Inc C 339202 4703187 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 Waiting on final Fund Managers statements