2025-05-07T09:23:50+00:00 2024-06-30 440160260 Forvis Mazars LLP 500 Ridgefield Court Asheville NC 28806 990 2023-07-01 556017181 WEST VIRGINIA UNIVERSITY FOUNDATION INC WEST 3042844000 ONE WATERFRONT PLACE 7TH FLOOR MORGANTOWN WV 26507 Michael E Augustine COO/CFO/Treasurer 3042844000 2025-05-07 true Amy Bibby P00445891 8282542254 2025-04-01 2023 2025-03-06 01:10:19Z Cynthia L Roth ONE WATERFRONT PLACE 7TH FLOOR MORGANTOWN WV 26507 564382018 false X WWW.WVUF.ORG X 1954 WV The mission of the WVU Foundation is to enrich the lives of those touched by West Virginia University by maximizing charitable support and providing services to the University, its students and affiliated organizations. 28 27 191 27 5352588 3283921 77015608 169237554 18658399 17775296 41540928 55052217 -46463 428743 137168472 242493810 21453699 21030449 0 0 72173715 62797193 385361 601644 15554213 59368466 69503141 153381241 153932427 -16212769 88561383 2826400531 3043490864 1602682433 1733219524 1223718098 1310271340 X The mission of the WVU Foundation is to enrich the lives of those touched by West Virginia University by maximizing charitable support and providing services to the University, its students and affiliated organizations. false false 47132168 THE ORGANIZATION UTILIZES PRIVATE FUNDING TO SUPPORT MULTIPLE SCHOOLS, COLLEGES, AND DEPARTMENTS IMPACTING ALL LEVELS OF THE CAMPUS. AMOUNTS FUNDED IN THIS AREA ARE PRIMARILY UTILIZED TO ENHANCE SALARY LEVELS THEREBY POSITIONING WEST VIRGINIA UNIVERSITY TO BE MORE COMPETITIVE IN ATTRACTING AND RETAINING TALENTED INDIVIDUALS WITHIN THE ACADEMIC, ADMINISTRATIVE, AND RESEARCH FIELDS. THE HEALTH SCIENCES CAMPUS WAS THE PRIMARY BENEFICIARY OF FUNDED SALARIES; HOWEVER, VIRTUALLY EVERY ACADEMIC DEPARTMENT, AS WELL AS THE DEPARTMENT OF INTERCOLLEGIATE ATHLETICS, RECEIVED FUNDING FOR THIS CRITICAL FUNCTION. 26059819 THE ORGANIZATION UTILIZES PRIVATE FUNDING TO SUPPORT CAPITAL PROJECT INITIATIVES ACROSS CAMPUS. FOR THE CURRENT FISCAL YEAR, WEST VIRGINIA UNIVERSITY RECEIVED FUNDING FROM THE ORGANIZATION TO SUPPORT A VARIETY OF CAPITAL INITIATIVES. 21030449 21030449 THE ORGANIZATION UTILIZES PRIVATE FUNDING TO SUPPORT STUDENTS WITHIN MULTIPLE SCHOOLS, COLLEGES, AND DEPARTMENTS ACROSS CAMPUS; THE MOST SIGNIFICANT OF WHICH WERE THE DEPARTMENT OF INTERCOLLEGIATE ATHLETICS, THE EBERLY COLLEGE OF ARTS AND SCIENCES, THE COLLEGE OF AGRICULTURE, NATURAL RESOURCES AND DESIGN, AND THE STATLER COLLEGE OF ENGINEERING AND MINERAL RESOURCES. SCHOLARSHIP AMOUNTS INCLUDE TUITION, BOOKS, AND ROOM AND BOARD. SCHOLARSHIP AMOUNTS ARE UTILIZED ACROSS CAMPUS TO HELP RECRUIT NATIONALLY PROMINENT STUDENTS AS WELL AS PROVIDE FUNDING SUPPORT TO GIVE OTHER STUDENTS THE OPPORTUNITY TO PURSUE AN ACADEMIC CAREER AT THE HIGHEST LEVEL. 35303096 THE ORGANIZATION HAS OTHER DISBURSEMENTS IN DIRECT SUPPORT OF WEST VIRGINIA UNIVERSITY, INCLUDING FACULTY AND STAFF TRAVEL FOR EDUCATIONAL PURPOSES, CLASSROOM, LABORATORY, AND OFFICE SUPPLIES, EDUCATIONAL MATERIALS, ETC. 35303096 129525532 true true false false false false false false true true true false false true true true false false false true false false true true false false true false true false false false false false false false false true false false false false true false false false true 610 0 true 191 true true true false false false true true true true false false false true false false false X 28 27 false false false false false false false true true false false true true true true true true true true true true CA CO CT FL GA AL HI IL KS KY LA ME AK MD MA MI MN MS MO NH NJ NM NY NC ND OH OK OR PA AZ RI SC TN UT VA AR WA WV WI X X Melissa L Simpson 3042844066 ONE WATERFRONT PLACE 7TH FLOOR MORGANTOWN WV 26507 Cynthia L Roth President & CEO 45.0 X X 750740 0 134883 J Wayne Richards Vice Chair 2.0 X X 0 0 0 Marcia A Broughton Secretary 2.0 X X 0 0 0 William Sheedy Chair 2.0 X X 0 0 0 Alan J Zuccari Director 2.0 X 0 0 0 Alexis Pugh Director 2.0 X 0 0 0 Bradford Ritchie Director 2.0 X 0 0 0 David S Santee Director 2.0 X 0 0 0 George Bicher Director 2.0 X 0 0 0 George S Weaver III Director 2.0 X 0 0 0 Jane McNeer Director 2.0 X 0 0 0 Jo Ann Shaw Director 2.0 X 0 0 0 Kerri Knotts Director 2.0 X 0 0 0 Kevin Given Director 2.0 X 0 0 0 Kevin K Sidow Director 2.0 X 0 0 0 Kim Craig Director 2.0 X 0 0 0 Michael T Escue Director 2.0 X 0 0 0 Natalie Bush Director 2.0 X 0 0 0 Ola Adekunle Director 2.0 X 0 0 0 Penelope F Roll Director 2.0 X 0 0 0 Robert Johnson Director 2.0 X 0 0 0 Robert O Orders Jr Director 2.0 X 0 0 0 Roderick Young Director 2.0 X 0 0 0 Spencer Cavalier Director 2.0 X 0 0 0 Susan Brewer Director 2.0 X 0 0 0 Terri Hornsby Director 2.0 X 0 0 0 Travis Rosiek Director 2.0 X 0 0 0 Valentina Bigalke Director 2.0 X 0 0 0 Bernard J Davisson II Sr. VP Development, CDO 45.0 X 476193 0 56598 Jessica M Burns Board Admin, Exec to CEO/Asst. Board Sec 45.0 X 94125 0 31103 Melissa L Simpson Asst. Treasurer 45.0 X 178924 0 23626 Michael E Augustine COO/CFO, Treasurer 45.0 X 425456 0 56598 Richard Kraich VP Investments, CIO 45.0 X 993088 0 56598 Charles Kerzak SeniorAssociateVP, UniversityDevelopment/ CampaignManagement 45.0 X 240683 0 57915 Jeffrey Schoenherr Assoc VP, Medical Development 45.0 X 246180 0 55563 Jennifer Cunanan Assoc VP, Investments 45.0 X 440801 0 67131 Kaylon McInelly Assoc VP, Investments 45.0 X 342689 0 50631 Timothy Bolling Sr. Assoc VP, Leadership Philanthropy 45.0 X 244254 0 52971 4433133 0 643617 46 false true false Clayton Dubilier & Rice LLC 375 Park Avenue 18th Floor New York NY 10152 Investment Manager 884334 Hudson Bay Capital Management LP 28 Havemeyer Place 2nd Floor Greenwich CT 06830 Investment Manager 531461 Ruffalo Noel Levitz 1025 Kirkwood Parkway SW Cedar Rapids IA 52404 Fundraising Services 485827 Carlyle Group 1001 Pennsylvania Avenue NW Suite 220 South Washington DC 20004 Investment Manager 482021 Morgantown Marriott 2 Waterfront Pl Morganton WV 26501 Event Services 442738 27 939141 168298413 9840337 169237554 Other 611710 11399286 11399286 Agency Fees 611710 4874699 4874699 Contractual Agreements 611710 1501311 1402711 98600 0 0 0 0 17775296 20788060 5253988 15534072 62931 62931 1975000 1256852 718148 0 718148 718148 354170884 319906727 34264157 0 34264157 34264157 372293 939141 724629 -352336 -352336 0 0 0 0 0 242493810 18394844 5352588 49508824 21030449 21030449 3194421 2068750 1125671 47594823 38991896 1136558 7466369 1572769 492434 1080335 9364797 8137797 384174 842826 1070383 335136 735247 247041 21347 70665 155029 160465 4145 156320 601644 601644 4948550 4856730 91820 6281661 4982694 406707 892260 716228 499105 67982 149141 8996447 8475610 163075 357762 1491411 346055 358611 786745 1227559 908002 100053 219504 3711370 3403042 96538 211790 5664937 5051045 192210 421682 463255 145045 318210 515708 221975 91968 201765 Capital Projects 26059771 26059819 -15 -33 Provision for Losses 4299948 4299948 Transfers to University & Affiliates 2500000 2500000 Distribution for Research Initiatives 1900025 1900025 318765 335848 -5349 -11734 153932427 129525532 8852682 15554213 249 250 87151417 117440864 58469423 103438921 2116493 2047338 0 0 2648673 1356974 1000000 1000000 40087888 27976806 12184838 12111082 908655945 1076305258 1710410270 1687502736 0 43763223 42287441 2826400531 3043490864 12603679 7412036 0 12644870 11403258 1577433884 1714404230 1602682433 1733219524 X 58890736 71960173 1164827362 1238311167 1223718098 1310271340 2826400531 3043490864 X 88561383 -567054 -1441087 X false true X true false X 102964854 112988601 113807754 77015608 169237554 576014371 0 0 102964854 112988601 113807754 77015608 169237554 576014371 76444183 499570188 15758727 13123455 16987004 20097912 22825991 88793089 0 0 0 0 0 0 0 664807460 78056481 0.7515 0.8017 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 944518293 20824570 32782183 11868489 16642578 11324874 958289105 940660144 20689752 19845520 10125892 15104911 11446320 944518293 922954058 28138931 23488466 8843080 13622201 11456030 940660144 728197628 24512055 199773533 8142103 12057035 9330020 922954058 732490973 20507176 23217978 39863977 8154522 728197628 0.0955 0.9045 0.0 true false 2610860 2610860 32058226 23259915 8798311 593714 180958 412756 1661570 1588870 72700 3163518 2947063 216455 12111082 Hedge Funds 186189501 F Buyouts 187530306 F Natural Resources - Private 74665172 F Real Estate - Private 79934578 F Fixed Income F International Equity 38766366 F Private Opportunistic Fixed Income 49371202 F Venture Capital 475084805 F Co-Investments 18227974 F Infrastructure 11507855 F Money Market Funds F Real Estate - Public F Marketable Opportunistic Fixed Income 51303641 F Public Fixed Income 427619247 F U.S Equities 87302089 F 1687502736 ACCRUED SUPPLEMENTAL RETIREMENT BENEFITS 2144152 FUNDS HELD IN CUSTODY FOR OTHERS 1698696238 Annuities Payable 13563840 1714404230 X 239117725 -567054 1981481 1414427 237703298 4790512 0 4790512 242493810 146823448 1981481 1981481 144841967 4790512 4299948 9090460 153932427 Schedule D, Part V, Line 4 Intended uses of endowment funds ASSETS AND CONTRIBUTIONS FOR WHICH THE DONOR STIPULATES THAT RESOURCES BE MAINTAINED PERMANENTLY ARE CONSIDERED ENDOWMENT FUNDS. SUCH ASSETS ARE COMPRISED OF ENDOWMENTS, WHICH ARE SUBJECT TO THE RESTRICTIONS OF GIFT INSTRUMENTS REQUIRING THAT THE FUND BE INVESTED IN PERPETUITY. SPENDING FROM THE FUND IS GOVERNED BY THE ORGANIZATION'S SPEND POLICY AS APPROVED ANNUALLY BY THE BOARD OF DIRECTORS. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The Foundation is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code (IRC). Accordingly, the accompanying financial statements do not reflect a provision or liability for federal and state income taxes. The Foundation follows the Financial Accounting Standards Board's (FASB) authoritative guidance on accounting for uncertainty in income taxes. Tax positions must meet a recognition threshold of more-likely-than-not for the benefit or obligation of those tax positions to be recognized in the financial statements. The Foundation has determined that it does not have any material unrecognized tax benefits or obligations at June 30, 2024 and June 30, 2023. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 RENTAL EXPENSES NETTED WITH REVENUE ON FORM 990 - 1256852 FUNDRAISING EXPENSES NETTED WITH REVENUE ON FORM 990 - 724629 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 FUNDRAISING EXPENSES NETTED WITH REVENUE ON FORM 990 - 1256852 RENTAL EXPENSES NETTED WITH REVENUE ON FORM 990 - 724629 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements Provision for Uncollectible Receivables - 4299948 Europe (Including Iceland and Greenland) 0 0 Various Partnership Interests 88144677 East Asia and the Pacific 0 0 Various Partnership Interests 57883182 South Asia 0 0 Various Partnership Interests 5124977 North America (Canada & Mexico only) 0 0 Various Partnership Interests 8018161 Middle East and North Africa 0 0 Various Partnership Interests 14473347 South America 0 0 Various Partnership Interests 5615420 Russia and Neighboring States 0 0 Various Partnership Interests 956905 0 0 0 0 0 0 180216669 0 180216669 true false false false true false Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements EAST ASIA AND THE PACIFI; EUROPE (INCLUDING ICELAND AND GREENLAND; MIDDLE EAST AND NORTH AFRIC; NORTH AMERICA (CANADA & MEXICO ONLY; RUSSIA AND NEIGHBORING STATE; SOUTH AMERIC; SOUTH ASI X X X true Ruffalo Noel Levitz 1025 Kirkwood Parkway SW Cedar Rapids IA 52404 The Organization contracted with a professional fundraiser to assist with ongoing fundraising campaigns. Contributions relating to these campaigns will be received over multiple tax periods. false 7074000 601644 6472356 7074000 601644 6472356 Athletic Events 177481 77440 100041 7230 61647 1760 1788 Cancer Ctr Events 855161 655959 199202 5980 103064 176290 119549 33905 2 278792 205742 73050 1188 6779 7343 172194 19409 6503 1311434 939141 372293 1188 19989 110407 410131 140718 42196 724629 -352336 Schedule G, Part I, Line 2b(v) payment of fees or payment of expenses RUFFALO NOEL LEVITZ-IN ADDITION TO PAYMENTS FOR SERVICES, THE ORGANIZATION PAID FOR CERTAIN COSTS SEPARATELY. THESE COSTS INCLUDE: $57,021 - POSTAGE $58,796 - SOFTWARE AS A SERVICE (SAAS); true West Virginia University PO Box 6201 Morgantown WV 26506 556000842 501(c)(3) 21030449 To support students of West Virginia University 1 0 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. THE ORGANIZATION REMITS FUNDS TO WEST VIRGINIA UNIVERSITY UPON THE RECEIPT OF INVOICES/REQUESTS FOR PAYMENT APPROVED BY THE APPROPRIATE BUDGET OFFICER. PRIOR TO REMITTING THE FUNDS TO WEST VIRGINIA UNIVERSITY, THE ORGANIZATION'S STAFF REVIEWS THE AUTHORIZED REQUEST TO ENSURE THAT THE REQUEST COMPLIES WITH FUND RESTRICTIONS. X X X X X X true false false false false false false false false Cynthia L Roth President & CEO 506393 0 120000 0 124347 0 123071 0 11812 0 885623 0 120615 0 Richard Kraich VP Investments, CIO 509370 0 471050 0 12668 0 36300 0 20298 0 1049686 0 0 0 Bernard J Davisson II Sr. VP Development, CDO 389739 0 75250 0 11204 0 36300 0 20298 0 532791 0 0 0 Michael E Augustine COO/CFO, Treasurer 326884 0 87368 0 11204 0 36300 0 20298 0 482054 0 0 0 Melissa L Simpson Asst. Treasurer 178564 0 0 0 360 0 19944 0 3682 0 202550 0 0 0 Jennifer Cunanan Assoc VP, Investments 311757 0 128684 0 360 0 39600 0 27531 0 507932 0 0 0 Kaylon McInelly Assoc VP, Investments 232981 0 109468 0 240 0 23100 0 27531 0 393320 0 0 0 Jeffrey Schoenherr Assoc VP, Medical Development 245628 0 0 0 552 0 28032 0 27531 0 301743 0 0 0 Charles Kerzak SeniorAssociateVP, UniversityDevelopment/ CampaignManagement 240131 0 0 0 552 0 30384 0 27531 0 298598 0 0 0 Timothy Bolling Sr. Assoc VP, Leadership Philanthropy 243222 0 0 0 1032 0 25440 0 27531 0 297225 0 0 0 Schedule J, Part I, Line 4a Severance or change-of-control payment THE FOUNDATION HAS ESTABLISHED A NON-QUALIFIED 457(F) PLAN FOR CERTAIN EXECUTIVES. CONTRIBUTIONS WERE MADE TO THE PLAN IN CALENDAR YEAR 2023 FOR THE FOLLOWING INDIVIDUALS: $86,771 - CYNTHIA ROTH - PRESIDENT & CEO X 122 8757321 Other - FMV X 11 1083016 Other - Appraisal false true true Schedule M, Part I, Line 32b Third parties used to solicit, process, or sell noncash contributions SALE OF REAL ESTATE PROPERTY IS CONDUCTED BY A REAL ESTATE AGENT Form 990, Part III, Line 4d Description of other program services (Expenses $ 35,303,096 including grants of $) THE ORGANIZATION HAS OTHER DISBURSEMENTS IN DIRECT SUPPORT OF WEST VIRGINIA UNIVERSITY, INCLUDING FACULTY AND STAFF TRAVEL FOR EDUCATIONAL PURPOSES, CLASSROOM, LABORATORY, AND OFFICE SUPPLIES, EDUCATIONAL MATERIALS, ETC. Form 990, Part VI, Line 11b Review of form 990 by governing body ANNUALLY, THE MEMBERS OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS OF THE ORGANIZATION REVIEW THE FORM 990 AFTER COMPLETION OF THE FORM BY MANAGEMENT WITH THE ASSISTANCE, GUIDANCE, AND REVIEW OF THE INDEPENDENT ACCOUNTING FIRM. THE MEMBERS EACH RECEIVE A COMPLETE COPY OF THE FORM 990 AND ALL SCHEDULES PRIOR TO THE MEETING SO THAT THEY HAVE AN OPPORTUNITY TO REVIEW. DURING THE MEETING, THE ACCOUNTING FIRM AND MANAGEMENT STAFF REVIEW THE RETURN AND ANSWER QUESTIONS. ITEMS REQUIRING FURTHER REVIEW OR ADDITIONAL INFORMATION ARE NOTED AND CHANGES ARE MADE TO THE RETURN AS NECESSARY. ADDITIONALLY, PRIOR TO FILING THE FORM 990, THE AUDIT COMMITTEE REPORTS ITS REVIEW TO ALL MEMBERS OF THE BOARD OF DIRECTORS AND A COPY OF THE FORM IS MADE AVAILABLE TO ALL MEMBERS OF THE BOARD. Form 990, Part VI, Line 12c Conflict of interest policy ANNUALLY, EACH EMPLOYEE AND BOARD MEMBER IS ASKED TO REVIEW THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. THE INDIVIDUAL THEN MUST COMPLETE AND SIGN A CONFLICT OF INTEREST POLICY FORM. COMPLETED EMPLOYEE FORMS ARE SUBMITTED TO THE ORGANIZATION'S Asst. VP for talent management and culture, WHILE THE COMPLETED BOARD MEMBER FORMS ARE SUBMITTED TO THE ORGANIZATION'S PRESIDENT. ALL FORMS RECEIVED BY TALENT MANAGEMENT & CULTURE AND THE ORGANIZATION'S PRESIDENT ARE REVIEWED AND EVALUATED. ANY ACTUAL OR POSSIBLE CONFLICTS OF INTEREST AND RELATED CONCLUSIONS ARE REPORTED BY THE PRESIDENT AND CEO, ANNUALLY, TO THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS. THE POLICY ADDRESSES THE FOLLOWING SITUATIONS: 1) THE NAMES OF ANY PERSONS WHO DISCLOSED OR OTHERWISE WERE FOUND TO HAVE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, THE NATURE OF THE INTEREST, ANY ACTION TAKEN TO DETERMINE WHETHER A CONFLICT OF INTEREST WAS PRESENT, AND THE DECISION AS TO WHETHER A CONFLICT OF INTEREST IN FACT EXISTED. 2) THE NAMES OF THE PERSONS WHO WERE PRESENT FOR DISCUSSIONS AND VOTES RELATING TO THE TRANSACTION OR ARRANGEMENT, THE CONTENT OF THE DISCUSSION, INCLUDING ANY ALTERNATIVES TO THE TRANSACTION OR ARRANGEMENT, AND A RECORD OF ANY VOTES TAKEN IN CONNECTION THEREWITH. THE PRESIDENT AND CEO SHALL CONSULT WITH THE CHAIRMAN OF THE BOARD AND THE AUDIT COMMITTEE AS APPROPRIATE. IF A CONFLICT OF INTEREST IS DETERMINED TO EXIST, THE INDIVIDUAL MAY NOT PARTICIPATE IN ANY DISCUSSION OF, OR DECISION REGARDING, THE TRANSACTION OR ARRANGEMENT BEING CONSIDERED. Form 990, Part VI, Line 15a Process to establish compensation of top management official DETERMINATION OF THE CEO'S COMPENSATION IS MADE AS FOLLOWS: THE COMPENSATION & MANAGEMENT DEVELOPMENT COMMITTEE OF THE ORGANIZATION'S BOARD OF DIRECTORS EVALUATES THE CEO'S PERFORMANCE AND RECEIVES COMPARATIVE COMPENSATION AND BENEFIT DATA. DATA SOURCES INCLUDE SURVEYS FROM COMPARABLE ORGANIZATIONS COLLECTED AND COMPILED BY AN INDEPENDENT COMPENSATION CONSULTANT REPORTING TO THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS. THE DATA PROVIDED TO THE COMMITTEE INCLUDES, WHEN AVAILABLE, INFORMATION ABOUT THE SIZE OF THE ORGANIZATIONS IN THE COMPARISON AND THE TENURE OF THE EMPLOYEES. THE COMPENSATION COMMITTEE DEVELOPS A RECOMMENDATION, MEETING IN EXECUTIVE SESSION, THE BOARD OF DIRECTORS RECEIVES THE RECOMMENDATION FROM THE COMMITTEE, DISCUSSES THE RECOMMENDATION, AND ACCEPTS OR AMENDS THE RECOMMENDATION MADE BY THE COMMITTEE. THE BOARD OF DIRECTORS EVALUATES THE CEO'S PERFORMANCE AND THEN PASSES A RESOLUTION SETTING THE CEO'S ANNUAL COMPENSATION AND BENEFITS PACKAGE. MINUTES ARE MAINTAINED ON A CONCURRENT BASIS BY THE COMMITTEE AND THE BOARD. DETERMINATION OF OTHER OFFICERS KEY EMPLOYEES' COMPENSATION IS MADE AS FOLLOWS: THE ORGANIZATION'S PRESIDENT AND CEO EVALUATES EACH EXECUTIVE OFFICER'S PERFORMANCE AND OBTAINS AND/OR COMPILES COMPARATIVE COMPENSATION AND BENEFIT DATA FROM THE INDEPENDENT CONSULTANT. BASED ON THIS INFORMATION, HE/SHE MAKES HIS/HER RECOMMENDATION FOR EACH EXECUTIVE OFFICER'S ANNUAL COMPENSATION. THE COMPARATIVE DATA AND THE PRESIDENT'S RECOMMENDATIONS ARE REVIEWED AND APPROVED BY THE COMPENSATION COMMITTEE OF THE ORGANIZATION'S BOARD OF DIRECTORS. Form 990, Part VI, Line 15b Process to establish compensation of other employees DETERMINATION OF THE CEO'S COMPENSATION IS MADE AS FOLLOWS: THE COMPENSATION & MANAGEMENT DEVELOPMENT COMMITTEE OF THE ORGANIZATION'S BOARD OF DIRECTORS EVALUATES THE CEO'S PERFORMANCE AND RECEIVES COMPARATIVE COMPENSATION AND BENEFIT DATA. DATA SOURCES INCLUDE SURVEYS FROM COMPARABLE ORGANIZATIONS COLLECTED AND COMPILED BY AN INDEPENDENT COMPENSATION CONSULTANT REPORTING TO THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS. THE DATA PROVIDED TO THE COMMITTEE INCLUDES, WHEN AVAILABLE, INFORMATION ABOUT THE SIZE OF THE ORGANIZATIONS IN THE COMPARISON AND THE TENURE OF THE EMPLOYEES. THE COMPENSATION COMMITTEE DEVELOPS A RECOMMENDATION, MEETING IN EXECUTIVE SESSION, THE BOARD OF DIRECTORS RECEIVES THE RECOMMENDATION FROM THE COMMITTEE, DISCUSSES THE RECOMMENDATION, AND ACCEPTS OR AMENDS THE RECOMMENDATION MADE BY THE COMMITTEE. THE BOARD OF DIRECTORS EVALUATES THE CEO'S PERFORMANCE AND THEN PASSES A RESOLUTION SETTING THE CEO'S ANNUAL COMPENSATION AND BENEFITS PACKAGE. MINUTES ARE MAINTAINED ON A CONCURRENT BASIS BY THE COMMITTEE AND THE BOARD. DETERMINATION OF OTHER OFFICERS KEY EMPLOYEES' COMPENSATION IS MADE AS FOLLOWS: THE ORGANIZATION'S PRESIDENT AND CEO EVALUATES EACH EXECUTIVE OFFICER'S PERFORMANCE AND OBTAINS AND/OR COMPILES COMPARATIVE COMPENSATION AND BENEFIT DATA FROM THE INDEPENDENT CONSULTANT. BASED ON THIS INFORMATION, HE/SHE MAKES HIS/HER RECOMMENDATION FOR EACH EXECUTIVE OFFICER'S ANNUAL COMPENSATION. THE COMPARATIVE DATA AND THE PRESIDENT'S RECOMMENDATIONS ARE REVIEWED AND APPROVED BY THE COMPENSATION COMMITTEE OF THE ORGANIZATION'S BOARD OF DIRECTORS. Form 990, Part VI, Line 19 Required documents available to the public THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE UPON REQUEST AND FINANCIAL STATEMENTS ARE POSTED ON THE ORGANIZATION'S WEB SITE. Form 990, Part IX, Line 13 The Foundation reimburses West Virginia University for many expenditures incurred, including salary/benefit costs, office expenses, travel, etc. The Foundation's allocable portion of these costs include a portion of the amounts presented in these respective expenditure categories on Part IX. Form 990, Part XI, Line 9 Other changes in net assets or fund balances GAIN/LOSS ON REVALUATION OF ANNUITIES PAYABLE - 516286; GAIN/LOSS ON REVALUATION OF EXTERNAL TRUSTS - -1957373; Charitable Remainder Trust (46) Financial Support WV NA Trust true Perpetual Trusts (13) Financial Support WV NA Trust true Charitable Lead Trust (5) Financial Support WV NA Trust true false false false false false false false false false false false false false false false false false false false