2024-04-13T06:29:18+00:00 2023-05-31 350921680 CROWE LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2022-06-01 356047122 Taylor University Foundation Inc TAYL 7659985119 236 West Reade Avenue Upland IN 46989 Stephen P Olson Executive Director 2024-04-13 true Stephen Olson 999009999 JENNIFER BURKE P01342224 3128997000 2022 2023-04-26 12:10:37Z Stephen P Olson 236 West Reade Avenue Upland IN 46989 2428840 false X N/A X 1933 IN Support the educational purposes of Taylor University. 5 2 0 2 0 0 0 0 0 0 826823 293271 20 0 826843 293271 2000 10750 0 0 0 0 0 0 258535 351785 260535 362535 566308 -69264 10183475 8552432 5071176 3783653 5112299 4768779 Support the educational purposes of Taylor University. false false 279997 10750 0 Taylor University Foundation, Inc. exists to provide support to Taylor University. This support includes management of certain financial instruments, oversight of certain investment-oriented real estate, and special projects. 279997 true false false false true false true false true true false false false true true false true false false false false false false false false false true false true false false false false false false false false false false false false false true true false false false true 45 0 true 0 false false false false false false false false false false false false false false false X 5 2 false false false false false true true true false false false true true true true true true false false false IN X Bruce Miller 7659984634 236 West Reade Avenue Upland IN 46989 Dr D Michael Lindsay Chair 5.0 63.0 X X 0 525773 73272 Stephen Olson Executive Director 10.0 42.0 X X 0 156880 33212 Manuel Rosado Director 1.0 2.0 X 0 0 0 Nicholas Wallace Director 1.0 3.0 X 0 0 0 Ron Sutherland Director 1.0 51.0 X 0 143843 31140 0 826495 137623 0 false true false 0 0 0 0 0 0 0 288679 288679 0 0 2140161 2135569 4592 0 4592 4592 0 0 0 0 0 293271 0 0 293271 10750 10750 1207 1207 15600 15600 93 0 93 0 38 38 106 106 1494 1494 Payments to Annuitants 269247 269247 Administration Expense 64000 64000 0 0 0 0 362535 279997 82538 0 749064 829503 0 0 0 0 33326 0 33326 33326 9401085 7689603 0 0 0 0 10183475 8552432 0 0 5071176 3783653 5071176 3783653 X 2390518 2081334 2721781 2687445 5112299 4768779 10183475 8552432 X -69264 -445035 170779 X false true X true false X X X 1 Taylor University 350868181 2 true 1000 0 1 1000 0 true false false false false true false false false false false false false false false true false Schedule A, Part IV, Section A, Line 6 Support to other supported orgs During the year, the Foundation provided the following support: $5,000 to Back 2 Back Ministries (EIN 31-1468516) to fund the missionaries Todd and Beth Guckenberger as well as underwriting support staff at Back 2 Back Ministries $250 to Wycliffe Bible Translators International, Inc. (EIN 95-3494561) to fund the missionaries Lloyd and Nancy Peckham. These organizations are designated by class or charitable purpose and support the charitable purposes of the University. All these organizations meet the guidelines of the by-laws of the Foundation and the charter of the University and are exempt under IRC Section 501(c)(3). 2 0 10750 67660 true true X X false 2861080 80386 -6292 126577 9194 2799403 3043675 36125 -85633 123093 9994 2861080 2487759 2103 680951 117860 9278 3043675 2501402 29034 81819 115467 9029 2487759 2582629 10200 32015 114863 8579 2501402 0.1471 0.7396 0.1133 false true true 33326 33326 33326 Annuity and trust obligation - unrelated beneficiaries 1885973 Annuity and trust obligation - related beneficiaries 1275242 Other related entity liabilities 622438 3783653 X Schedule D, Part III, Line 1a Collections of art - financial statement footnote Collections of artwork, rare books and other historically significant artifacts are not capitalized or recorded on the consolidated statements of financial position. Schedule D, Part III, Line 4 Collections of art - description of collections The Foundation holds various art collections. The largest consists of Oriental and European art. These are held by the Foundation to allow opportunities for Taylor University students to learn about and appreciate these works of art. Schedule D, Part V, Line 4 Intended uses of endowment funds All of the Taylor University Foundation, Inc. endowed funds are to support the Foundation's general operations. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The Organization has received determination letters from the Internal Revenue Service indicating it is a tax-exempt organization as provided in Section 501(c)(3) of the Internal Revenue Code and is exempt from federal and state income taxes on income related to its exempt purpose. The Organization files the appropriate tax forms in the U.S. federal jurisdiction and the state of Indiana. The accounting guidance for uncertainty in income taxes prescribes the recognition threshold a tax position is required to meet before being recognized in the financial statements. The guidance also addresses de-recognition, classification, interest and penalties on income taxes, and accounting in interim periods. Management believes there are no material uncertainties in income taxes. true TAYLOR UNIVERSITY 1846 S MAIN STREET UPLAND IN 46989 350868181 501(c)(3) 5500 General Support 1 0 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. Grants are made to Taylor University for educational purposes. false false false false false false false false false Dr D Michael Lindsay Chair 0 356548 0 166250 0 2975 0 21997 0 51275 0 599045 0 0 Stephen Olson Executive Director 0 156520 0 0 0 360 0 9107 0 24105 0 190091 0 0 Ron Sutherland Director 0 142259 0 0 0 1584 0 8390 0 22749 0 174983 0 0 Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation The compensation of related organization employees is determined by the related organization, Taylor University. The following is used: compensation committee, Independent compensation consultant. Form 990 of other organizations, compensation survey or study, and approval by the independent members of the Board or Executive Committee. Form 990, Part VI, Line 15 Establishing Compensation The Foundation leases all employees from Taylor University. The University has adopted an Executive Compensation and Intermediate Sanctions Policy that ensures that all compensation arrangements with related parties are evaluated and entered at arms' length and that any compensation that is paid to a related party is reasonable and reflects fair market value. The Policy encourages the application of the rebuttable presumption standard of Code Section 4958 and the related Treasury Regulations by (a) excluding any interested party from the decision making process; (b) requiring disinterested Board or committee members to obtain and rely upon comparability data when setting the proposed compensation terms; (c) requiring approval of the transaction in advance by disinterested trustees or committee members; and (d) requiring contemporaneous documentation (i.e., minutes) reflecting the decision and the process by which it was made. In the case of the President's compensation, the Executive Committee of Taylor University (composed entirely of independent members of the University Board of Trustees), is responsible for ensuring that the process outlined above is applied. Form 990, Part VI, Line 13 Whistleblower Policy The Foundation leases employees from Taylor University. The University has a whistleblower policy applicable to these employees. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body The Board of Trustees of Taylor University appoints the Board of Directors of the Taylor University Foundation, Inc. An appointed director may be removed by vote of the Board of Trustees of Taylor University. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders The power to make, alter, amend, or repeal the Bylaws of the Foundation is vested in the Board of Directors of the Foundation; provided, however, that for any such change or amendment to become effective it must be approved by a majority of the Board of Trustees of Taylor University. Form 990, Part VI, Line 8b Documentation of meetings held by committees of governing body There are no committees with authority to act on behalf of the Board of Directors. Accordingly, this question is answered 'no'. Form 990, Part VI, Line 11b Review of form 990 by governing body The Foundation's independent certified public accounting firm prepared the Form 990, it was reviewed by the Executive Director, and finally it was presented to the Foundation's Board of Directors for review prior to filing. The Foundation utilized this process to ensure that its Form 990 received substantive review by directors and professionals with specific knowledge of the Foundation's activities and extensive financial, accounting and tax expertise. Form 990, Part VI, Line 12c Conflict of interest policy The Foundation has adopted a conflict of interest policy that requires directors, officers and key employees to submit an annual conflict of interest disclosure. The annual disclosure requires directors, officers and key employees to disclose, in writing, any known financial interest that the individual (together with family members) has in any business entity that transacts business with the Organization. In addition, directors, officers and key employees are required to immediately disclose any possible conflict of interest that arises mid-year in relation to a proposed transaction. The conflict of interest policy requires that any individual with a conflict be recused from the decision making process, that independent directors or committee members determine that the proposed transaction is in the best interests of the Organization, and the transaction must be approved by a vote of the independent directors or committee members without the participation of any interested individual. The annual conflict disclosure statements are submitted to, and reviewed by, the Audit Committee chairperson. In addition, the executive staff is responsible for monitoring any possible conflict transactions that arise and managing them to ensure that all transactions represent arms' length, fair market value terms for the benefit of the Organization. Form 990, Part VI, Line 19 Required documents available to the public The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request, either as printed or an electronic copy, for the same period of disclosure as set forth by IRC section 6104(d). Form 990, Part XI, Line 9 Other changes in net assets or fund balances Trust Distributions and Fees - -369597; Annuity and Trust Revaluations - 540376; 1846 Enterprises Inc 236 West Reade Avenue Upland IN 46989 833307764 Support Taylor University IN 501(c)(3) Type I Taylor University false Taylor University 1846 S MAIN STREET Upland IN 46989 350868181 Higher Education IN 501(c)(3) 2 NA false Taylor University Broadcasting Inc 1025 W Rudisill Boulevard Fort Wayne IN 46807 351975367 Christian Broadcasting IN 501(c)(3) Type I Taylor University false TUCC Inc 15 Center Meeting Road Wilmington DE 19807 841943979 Support Taylor University DE 501(c)(3) Type I Taylor University false TUSO 15 Center Meeting Road Wilmington DE 19807 841953499 Support Taylor University DE 501(c)(3) Type I TUCC Inc false Charitable Remainder Trusts (1) Charitable Trusts CA Taylor University Trust false Charitable Remainder Trusts (10) Charitable Trusts IN Taylor University Trust false Charitable Remainder Trusts (1) Charitable Trusts MI Taylor University Trust false Charitable Remainder Trusts (1) Charitable Trusts MO Taylor University Trust false Charitable Remainder Trusts (1) Charitable Trusts OH Taylor University Trust false Pooled Income Funds (2) Pooled Income Fund DE Taylor University Trust false 1846 Real Estate Kershner Commons LLC 236 West Reade Avenue Upland IN 46989 320166204 Real estate IN 1846 Enterprises Inc C Corporation false false true false false false false false false false false false false true true true true false false false