2024-05-15T15:25:04-05:00 2023-06-30 440160260 FORVIS LLP 999 S SHADY GROVE RD STE 400 MEMPHIS TN 38120 990 2022-07-01 626048540 UNIVERSITY OF MEMPHIS FOUNDATION UNIV 9016783256 635 NORMAL ST ALUMNI CENTER 108 MEMPHIS TN 38152 HOLLY FORD FOUNDATION CEO 9016783256 2024-05-15 1 HOLLY FORD 999009999 1 AMY BIBBY P00445891 9017613000 2024-05-15 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z HOLLY FORD 635 NORMAL ST ALUMNI CENTER 108 MEMPHIS TN 38152 55268594 0 X WWW.MEMPHIS.EDU/FOUNDATION/ X 1964 TN THE FOUNDATION ACCEPTS AND ADMINISTERS SUPPORT TO THE UNIVERSITY OF MEMPHIS. 16 16 0 16 82220 0 52204271 43126201 0 0 3193268 3757992 559281 756886 55956820 47641079 7528626 12684362 0 0 1097423 485556 0 0 0 19412523 19612080 28038572 32781998 27918248 14859081 184697152 222735067 6253081 15671246 178444071 207063821 THE FOUNDATION ACCEPTS AND ADMINISTERS SUPPORT TO THE UNIVERSITY OFMEMPHIS. 0 0 31480203 12684362 756886 THE FOUNDATION PROVIDED FUNDS FOR SCHOLARSHIPS, FELLOWSHIPS, ACADEMIC ENRICHMENT AND VARIOUS OTHER PROGRAMS AND PROJECTS IN SUPPORT OF THE STUDENTS, FACULTY, STAFF AND MISSION OF THE UNIVERSITY OF MEMPHIS. 31480203 1 1 0 0 0 0 0 0 0 1 0 1 0 0 1 1 1 0 0 0 1 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 1 153 0 1 0 1 1 0 0 0 1 1 1 1 0 0 0 0 0 0 X 16 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X HOLLY FORD 9016783256 635 NORMAL ST ALUMNI CENTER 108 MEMPHIS TN 38152 X FRED TOWLER PRESIDENT 1.00 1.00 X X 0 0 0 DAVID TATE VICE PRESIDENT 1.00 X X 0 0 0 JOHN WILFONG TREASURER 1.00 X X 0 0 0 DOUGLAS SCARBORO SECRETARY 1.00 X X 0 0 0 HARRY L SMITH DIRECTOR 1.00 X 0 0 0 SUDHIR AGRAWAL DIRECTOR 1.00 X 0 0 0 RENE BUSTAMANTE DIRECTOR 1.00 X 0 0 0 GLYNNA CHRISTIAN DIRECTOR 1.00 X 0 0 0 TYREE DANIELS DIRECTOR 1.00 X 0 0 0 TANYA L HART DIRECTOR 1.00 X 0 0 0 RAAJKUMAR KURAPATI DIRECTOR 1.00 41.00 X 0 0 0 DAPHNE LARGE DIRECTOR 1.00 X 0 0 0 REGINALD PORTER DIRECTOR 1.00 X 0 0 0 JOHN ROBINSON DIRECTOR 1.00 X 0 0 0 DR BILL HARDGRAVE DIRECTOR 1.00 1.00 X 0 0 0 MONICA WHARTON DIRECTOR 1.00 X 0 0 0 HOLLY FORD FOUNDATION CEO 20.00 20.00 X 0 166715 40757 MARK NICELL FOUNDATION CBO 20.00 20.00 X 0 47101 4676 0 213816 45433 0 0 1 0 EAB GLOBAL PO BOX 603519 CHARLOTTE NC 282603519 TECHNOLOGY SERVICES 233222 ROBERT HALF INTERNATIONAL 12400 COLLECTION CENTER DR CHICAGO IL 606930124 PROFESSIONAL SERVICES 201638 BIRDSALL VOSS AND ASSOCIATES 250 W COVENTRY CT MILWAUKEE WI 532173972 PROFESSIONAL SERVICES 119000 APCO WORLDWIDE LLC PO BOX 2553 CAROL STREAM IL 601322553 PROFESSIONAL SERVICES 110157 4 43126201 555686 43126201 3790462 82220 3708242 7595045 7627515 -32470 -32470 -32470 MISC. REVENUE 611710 756886 756886 756886 47641079 756886 82220 3675772 X 12684362 12684362 344139 118793 225346 104098 48816 55282 37319 37319 12955 3200 9755 40560 40560 166418 166418 317209 317209 2723 2723 10325 10325 77077 77077 9135 9135 232439 232439 30762 30762 UNIVERSITY SUPPORT - SE 18625032 18625032 BAD DEBT EXPENSE 67295 67295 OTHER EXPENSES 20150 20150 32781998 31480203 1301795 0 3528866 11536780 29200192 30379261 131847371 158111758 19977808 22564353 142915 142915 184697152 222735067 6111706 15539125 141375 132121 6253081 15671246 X 4239984 4296431 174204087 202767390 178444071 207063821 184697152 222735067 14859081 13760669 0 X X 0 1 X 1 0 X 26506517 12330221 31976170 52204271 43126201 166143380 26506517 12330221 31976170 52204271 43126201 166143380 53402723 112740657 3344484 2678420 2469055 3142507 3790462 15424928 5792979 1145983 559281 756886 8255129 189823437 0.59390 0.52050 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 125876850 13513175 14494884 2799588 151085321 136668225 12285239 -20308899 2767715 125876850 96488206 10860668 32930842 3611491 136668225 102828605 2523525 -3520946 5342978 96488206 99857196 4478136 1358203 2864930 102828605 0.00000 0.79000 0.21000 0 0 0 LIMITED PARTNERSHIPS & LLCS 22564353 F 22564353 GIFT ANNUITY OBLIGATIONS 132121 132121 X 61252400 13760669 249509 14010178 47242222 166418 232439 398857 47641079 32632650 249509 249509 32383141 166418 232439 398857 32781998 PART V, LINE 4: THE UNIVERSITY OF MEMPHIS FOUNDATION'S ENDOWMENT ACCOUNTS CONSIST OF DONOR-RESTRICTED ENDOWMENT FUNDS AND INCLUDE APPROXIMATELY 600 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. AS REQUIRED BY GAAP, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR IMPOSED RESTRICTIONS. THE BOARD OF DIRECTORS OF THE UNIVERSITY OF MEMPHIS FOUNDATION HAS INTERPRETED UPMIFA AS REQUIRING THE PRESERVATION OF THE FAIR VALUE OF THE ORIGINAL GIFT AS OF THE GIFT DATE OF THE DONOR-RESTRICTED ENDOWMENT FUNDS ABSENT EXPLICIT DONOR STIPULATIONS TO THE CONTRARY. AS A RESULT OF THIS INTERPRETATION, THE FOUNDATION CLASSIFIES AS PERMANENTLY RESTRICTED NET ASSETS (A) THE ORIGINAL VALUE OF GIFTS DONATED TO THE PERMANENT ENDOWMENT FUNDS AND (B) THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO THE PERMANENT ENDOWMENT FUNDS. THE REMAINING PORTION OF THE DONOR-RESTRICTED ENDOWMENT FUNDS THAT IS NOT CLASSIFIED IN PERMANENTLY RESTRICTED NET ASSETS IS CLASSIFIED AS TEMPORARILY RESTRICTED NET ASSETS UNTIL THOSE AMOUNTS ARE APPROPRIATED FOR EXPENDITURE BY THE FOUNDATION IN A MANNER CONSISTENT WITH THE STANDARD OF PRUDENCE PRESCRIBED BY UPMIFA. IN ACCORDANCE WITH UPMIFA, THE FOUNDATION CONSIDERS THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO APPROPRIATE OR ACCUMULATE DONOR RESTRICTED ENDOWMENT FUNDS: - THE DURATION AND PRESERVATION OF THE FUND - THE PURPOSES OF THE FOUNDATION AND THE DONOR-RESTRICTED ENDOWMENT FUND - GENERAL ECONOMIC CONDITIONS - THE POSSIBLE EFFECT OF INFLATION AND DEFLATION - THE EXPECTED TOTAL RETURN FROM INCOME AND THE APPRECIATION OF INVESTMENTS - OTHER RESOURCES OF THE FOUNDATION - THE INVESTMENT POLICIES OF THE FOUNDATION PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS SIMILARLY EXEMPT FROM TENNESSEE STATE INCOME TAXES UNDER APPLICABLE PROVISIONS OF THE TENNESSEE TAX REGULATIONS. THE FOUNDATION'S LIMITED PARTNERSHIP INVESTMENTS GENERATE UNRELATED BUSINESS INCOME OR LOSS ACTIVITY WHICH IS SUBJECT TO FEDERAL INCOME TAXES. THERE WAS NO UNRELATED BUSINESS INCOME TAX EXPENSE (UBIT) FOR THE YEARS ENDED JUNE 30, 2023 AND 2022. THE FOUNDATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2023, AND THERE IS NO INTEREST OR PENALTIES RELATED TO INCOME TAX ASSESSMENTS. PART XI, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSE 232,439. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSE 232,439. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENT 2531275 0 0 0 0 0 0 2531275 0 2531275 1 0 0 1 1 0 PART III ACCOUNTING METHOD: SCHEDULE F, PART I, LINE 3, COLUMN F: THIS AMOUNT REPRESENTS BOOK VALUE OF FOREIGN INVESTMENTS. 1 UNIVERSITY OF MEMPHIS 3720 ALUMNI AVE MEMPHIS TN 38152 620648618 501 (C) 12684362 0 AWARDS & SCHOLARSHIPS 1 PART I, LINE 2: THE FOUNDATION MAKES FUNDS AVAILABLE TO THE UNIVERSITY OF MEMPHIS. THE UNIVERSITY SELECTS RECIPIENTS IN ACCORDANCE WITH DONOR INSTRUCTIONS. X 0 0 0 0 0 0 0 0 0 HOLLY FORD FOUNDATION CEO 0 166715 0 0 0 0 0 29347 0 11410 0 207472 0 0 X 18 555686 FAIR MARKET VALUE 0 1 1 PART I, LINE 32B: BROKERAGE ACCOUNTS ARE MAINTAINED WITH VARIOUS PUBLIC FIRMS FOR THE PURPOSE OF RECEIVING AND SELLING GIFTS OF SECURITIES. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE MANAGING DIRECTOR AND THE FOUNDATION DIRECTOR PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THIS POLICY IS MONITORED AND ENFORCED BY THE UNIVERSITY OF MEMPHIS FOUNDATION'S OFFICERS AND EMPLOYEES IN A MANNER ADDRESSED IN THE CODE OF ETHICS SECTION OF THE FOUNDATION'S POLICIES AND PROCEDURES. FORM 990, PART VI, SECTION B, LINE 15 ALL PAID FOUNDATION POSITIONS ARE SUBJECTED TO AN INDEPENDENT SALARY REVIEW BY STATE OF TENNESSEE PERSONNEL IN ACCORDANCE WITH STATE OF TENNESSEE POLICIES AND PROCEDURES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY AVAILABLE FOR PUBLIC INSPECTION. THE FINANCIAL STATEMENTS ARE MADE AVAILABLE ON THE ORGANIZATIONS WEBSITE. FORM 990, PART VII, SECTION A: THE UNIVERSITY OF MEMPHIS FOUNDATION (UMF) REIMBURSES THE UNIVERSITY OF MEMPHIS (U OF M) FOR ALL OF THE COMPENSATION AND BENEFITS OF UMF'S MANAGING DIRECTOR. THEREFORE, THE FORM W-3 IS FILED BY THE UNIVERSITY OF MEMPHIS. FORM 990, PART IX, LINE 24A, UNIVERSITY SUPPORT DETAIL: CONFERENCES AND TRAVEL 251,813 SUPPLIES 435,541 POSTAGE 8,543 PRINTING 112,061 TELEPHONE AND COMMUNICATIONS 1,950 ANNUITY EXPENSES 19,281 PROFESSIONAL SERVICES 1,155,918 PUBLICITY/PUBLIC RELATIONS 1,970 RENTAL FEES 281,789 INSURANCE OTHER 27,824 OTHER EXPENSES 10,992,596 DUES AND MEMBERSHIP SUBSCRIPTIONS 209,224 MEALS AND ENTERTAINMENT 785,048 TICKETS 10,712 SPONSORSHIPS AND DONATIONS 96,804 GIFTS AND FLOWERS 36,110 FEES 95,167 HONORARIUMS 28,700 UNIVERSITY SUPPORT 2,538,606 USA GRANTS SPECIAL PROJECTS 1,416,210 FURNITURE AND EQUIPMENT 17,772 CONSTRUCTION AND RENOVATION 101,394 TOTAL - UNIVERSITY SUPPORT 18,625,032 FORM 990, PART XII, LINE 2C: THERE IS NO CHANGE FROM PRIOR YEAR. THE UNIVERSITY OF MEMPHIS 3720 ALUMNI AVENUE MEMPHIS TN 38152 620648618 PROVIDING HIGH QUALITY EDUCATIONAL OPPORTUNITIES TN 501(C)(3) LINE 2 N/A 0 AUXILIARY SERVICES FOUNDATION 635 NORMAL STREET MEMPHIS TN 38152 472335297 OPERATES AUXILIARY ENTERPRISE THAT BENEFIT THE UNIVERSITY OF MEMPHIS TN 501(C)(3) LINE 7 N/A 0 THE UNIVERSITY OF MEMPHIS RESEARCH FOUNDATION 365 INNOVATION DR STE 303 MEMPHIS TN 38152 205400381 ENCOURAGE, PROMOTE, AND AID THE FULFILLMENT OF EDUCATION AND RESEARCH TN 501(C)(3) LINE 5 N/A 0 0 1 0 1 1 0 0 0 0 0 0 0 1 1 0 1 0 1 1 UNIVERSITY OF MEMPHIS M 249509 FAIR MARKET VALUE UNIVERSITY OF MEMPHIS D 3949433 CASH UNIVERSITY OF MEMPHIS E 13563123 CASH UNIVERSITY OF MEMPHIS B 12684362 CASH UNIVERSITY OF MEMPHIS R 19880989 CASH UNIVERSITY OF MEMPHIS FOUNDATION E 1517136 CASH