2025-05-09T10:14:31-05:00 2024-06-30 341874260 CBIZ ADVISORS LLC 700 WEST 47TH STREET SUITE 1100 KANSAS CITY MO 64112 990 2023-07-01 626048540 UNIVERSITY OF MEMPHIS FOUNDATION UNIV 9016783256 635 NORMAL ST ALUMNI CENTER 108 MEMPHIS TN 38152 HOLLY FORD CEO 9016783256 2025-05-06 1 1 LISA BURKE P00220718 8169455500 2025-05-06 2023 2025-03-06 01:10:19Z HOLLY FORD 635 NORMAL ST ALUMNI CENTER 108 MEMPHIS TN 38152 42153223 0 X WWW.UOFMFOUNDATION.ORG X 1964 TN THE FOUNDATION ACCEPTS, MANAGES, AND DISBURSES PRIVATE SUPPORT TO THE UNIVERSITY OF MEMPHIS. 15 13 6 14 58026 0 43126201 29105214 0 5341618 3757992 6502424 756886 0 47641079 40949256 12684362 21569885 0 0 485556 698840 0 0 0 19612080 536197 32781998 22804922 14859081 18144334 222735067 264333656 15671246 19063762 207063821 245269894 THE FOUNDATION ACCEPTS, MANAGES, AND DISBURSES PRIVATE SUPPORT TO THE UNIVERSITY OF MEMPHIS. 0 0 21583011 21569885 5341618 THE FOUNDATION PROVIDES 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. 21583011 1 1 0 0 0 0 0 0 0 1 1 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 X 170 0 1 6 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 15 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 TN X MARK NICELL CBO 9016783256 635 NORMAL ST ALUMNI CENTER 108 MEMPHIS TN 38152 DAVID TATE PRESIDENT 1.00 0.00 X X 0 0 0 JOHN WILFONG VICE PRESIDENT 1.00 0.00 X X 0 0 0 TANYA HART TREASURER 1.00 0.00 X X 0 0 0 GLYNNA CHRISTIAN SECRETARY 1.00 0.00 X X 0 0 0 FRED TOWLER IMMEDIATE PAST PRESIDENT 1.00 1.00 X 0 0 0 SUDHIR AGRAWAL DIRECTOR 1.00 0.00 X 0 0 0 RENE BUSTAMANTE DIRECTOR 1.00 39.00 X 0 0 0 LAURALAN GRISONI DIRECTOR 1.00 0.00 X 0 0 0 DR BILL HARDGRAVE DIRECTOR 1.00 39.00 X 0 711025 24907 DAPHNE LARGE DIRECTOR 1.00 0.00 X 0 0 0 DR REGINALD PORTER DIRECTOR 1.00 0.00 X 0 0 0 JOHN MICKEY ROBINSON DIRECTOR 1.00 0.00 X 0 0 0 DR DOUGLAS SCARBORO DIRECTOR 1.00 0.00 X 0 0 0 HARRY SMITH DIRECTOR 1.00 0.00 X 0 0 0 MONICA WHARTON DIRECTOR 1.00 0.00 X 0 0 0 TYREE DANIELS DIRECTOR (TERM END 8/31/23) 1.00 0.00 X 0 0 0 RAAJKUMAR KURAPATI DIRECTOR (TERM END 8/31/23) 1.00 39.00 X 0 300608 47949 HOLLY FORD FOUNDATION CEO 30.00 10.00 X 169553 0 30634 MARK NICELL FOUNDATION CBO 30.00 10.00 X 136192 0 14057 305745 1011633 117547 2 0 1 0 ROBERT HALF INTERNATIONAL INC 12400 COLLECTION CENTER DR CHICAGO IL 606930124 HR CONSULTING 212124 APCO WORLDWIDE LLC PO BOX 2553 CAROL STREAM IL 601322553 PUBLIC RELATIONS 203033 LEVY RESTAURANTS AT THE FEDEX FORUM 191 BEALE ST MEMPHIS TN 381033715 DINING OPERATIONS 187579 BLAKE HARRIS AND ASSOCIATES LLC 611 COMMERCE ST STE 2704 NASHVILLE TN 372033742 PUBLIC RELATIONS 174000 BASKETBALL TRAVELERS INC 300 ADMIRAL WAY STE 214 EDMONDS WA 980207230 TRAVEL AGENT 143050 7 29105214 552260 29105214 M CLUB MEMBERSHIP BENEFITS 711210 5341618 5341618 5341618 5208880 58026 5150854 2497511 1203967 1293544 1293544 1293544 40949256 5341618 58026 6444398 21569885 21569885 356978 356978 220699 13126 207573 42377 42377 78786 78786 15590 15590 41872 41872 241978 241978 123216 123216 70680 70680 4043 4043 12684 12684 7059 7059 2644 2644 15805 15805 626 626 22804922 21583011 1221911 0 11536780 17215894 30379261 33656953 35812 29848 2644 0 27204 158111758 183712873 22564353 29013360 142915 671560 222735067 264333656 15539125 338341 132121 18725421 15671246 19063762 X 4296431 7596302 202767390 237673592 207063821 245269894 222735067 264333656 X 18144334 20284903 -223164 X X 0 1 X 1 0 X 12330221 31976170 52204271 43126201 29105214 168742077 12330221 31976170 52204271 43126201 29105214 168742077 18381573 150360504 2511193 3701578 3097459 3708242 5150854 18169326 186911403 13596747 0.80440 0.59390 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 151085321 5389023 20882331 3726414 173630261 125876850 13513175 14494884 2799588 151085321 136668225 12285239 -20308899 2767715 125876850 96488206 10860668 32930842 3611491 136668225 102828605 2523525 -3520946 5342978 96488206 0.00000 0.71634 0.28366 0 0 29848 2644 27204 27204 LIMITED PARTNERSHIPS & LLCS 29013360 F 29013360 GIFT ANNUITY OBLIGATIONS 105593 DUE TO AFFILIATES 18619828 18725421 X 61298703 20284903 239775 28645 20553323 40745380 203876 203876 40949256 23092630 239775 251809 491584 22601046 203876 203876 22804922 PART V, LINE 4: THE FOUNDATION'S ENDOWMENT ACCOUNTS CONSIST OF DONOR-RESTRICTED ENDOWMENT FUNDS AND INCLUDE APPROXIMATELY 700 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE FOUNDATION'S PERMANENT ENDOWMENT ORIGINATED WITH CONTRIBUTIONS TO BE HELD IN PERPETUITY WITH THE CAPITAL APPRECIATION AND EARNING THEREON TO BE USED TO PROVIDE FINANCIAL ASSISTANCE TO DESERVING SCHOLARS, SALARY SUPPLEMENTS, AND AWARDS TO ATTRACT AND RETAIN OUTSTANDING FACULTY MEMBERS, VISITING ARTISTS AND LECTURERS, AND TO PROVIDE FOR VARIOUS DEPARTMENTAL AND UNIVERSITY NEEDS. 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, 2024 AND 2023. THE FOUNDATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2024. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN CSV OF LIFE INSURANCE 28,645. PART XII, LINE 2D - OTHER ADJUSTMENTS: WRITE OFF OF UNCOLLECTIBLE PLEDGES 251,809. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 15194983 0 0 0 0 0 0 15194983 0 15194983 1 0 1 1 1 0 SCHEDULE F, PART I, LINE 3: THE AMOUNT REPORTED IN COLUMN (F) REPRESENTS THE BOOK VALUE OF THE FOUNDATION'S FOREIGN INVESTMENTS. 1 UNIVERSITY OF MEMPHIS 3720 ALUMNI AVE MEMPHIS TN 38152 620648618 GOVERNMENT UNIT 9474116 0 N/A N/A UNIVERSITY AWARDS AND SCHOLARSHIPS UNIVERSITY OF MEMPHIS 3720 ALUMNI AVE MEMPHIS TN 38152 620648618 GOVERNMENT UNIT 3798988 0 N/A N/A UNIVERSITY SUPPORT, ADVANCEMENT, AND SPECIAL PROJECTS UNIVERSITY OF MEMPHIS 3720 ALUMNI AVE MEMPHIS TN 38152 620648618 GOVERNMENT UNIT 0 8296781 COST UNIVERSITY OPERATIONAL COSTS PAID DIRECT UNIVERSITY GENERAL SUPPORT (SEE PART IV) 1 0 PART I, LINE 2: THE FOUNDATION MAKES FUNDS AVAILABLE TO THE UNIVERSITY OF MEMPHIS FOR GRANTS AND ASSISTANCE. THE POST AWARD SERVICES DEPARTMENT AT THE UNIVERSITY OVERSEES THE GRANT SELECTION PROCESS AND MONITORS THE USE OF FUNDS IN ACCORDANCE WITH UNIVERSITY POLICY. IN ADDITION, THE FOUNDATION PAYS DIRECT OPERATIONAL COSTS ON BEHALF OF THE UNIVERSITY. PART II: UNIVERSITY OPERATIONAL COSTS PAID DIRECTLY BY THE FOUNDATION: PROFESSIONAL FEES $1,098,773 OFFICE EXPENSES $1,012,441 OCCUPANCY $1,005,342 CONFERENCES $707,256 INTEREST EXPENSE $137,977 SPONSORSHIPS AND DONATIONS $111,868 TRAVEL $102,301 INSURANCE $28,779 ANNUITY EXPENSES $19,281 ADVERTISING $4,397 MAJOR PROJECTS* $4,068,366 TOTAL: $8,296,781 *MAJOR PROJECTS SUPPORTED IN FY24 INCLUDE THE LEFTWICH TENNIS FACILITY, AUDUBON CHURCH ACQUISITION, NATATORIUM FACILITY IMPROVEMENTS (INDOOR SWIMMING POOL), PORTER LEATH (PLUM ACADEMY), VIDEO BOARD STADIUM AND FIELD PROJECTS, AND LAMBUTH MADISON HIGH SCHOOL. 0 0 0 0 0 0 0 0 0 DR BILL HARDGRAVE DIRECTOR 0 681025 0 0 0 30000 0 1200 0 23707 0 735932 0 0 RAAJKUMAR KURAPATI DIRECTOR (TERM END 8/31/23) 0 262608 0 35500 0 2500 0 28417 0 19532 0 348557 0 0 HOLLY FORD FOUNDATION CEO 169553 0 0 0 0 0 18536 0 12098 0 200187 0 0 0 MARK NICELL FOUNDATION CBO 136192 0 0 0 0 0 13457 0 600 0 150249 0 0 0 PART I, LINE 3 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. ALL FOUNDATION EMPLOYEES ARE LEASED FROM THE UNIVERSITY OF MEMPHIS ('UNIVERSITY'). THE FOUNDATION BOARD ('BOARD') DETERMINES THE ROLES, RESPONSIBILITIES AND QUALIFICATION REQUIREMENTS FOR EACH LEASED EMPLOYEE AND ASSESSES COMPENSATION BASED ON MARKET DEMANDS FOR SUCH TALENT. EACH FOUNDATION EMPLOYEE IS CATEGORIZED IN A UNIVERSITY PAY BAND BASED ON TASKS, EXPERIENCE AND QUALIFICATION REQUIREMENTS. THE PAY BAND INDICATES A SALARY RANGE WHICH SHOULD BE REFLECTIVE OF THE BOARD'S ASSESSMENT. THE BOARD DETERMINES COMPENSATION FOR THE FOUNDATION CEO. X 25 552260 STOCK QUOTE 0 0 1 0 PART I, COLUMN (B): THE TOTAL IN COLUMN (B), LINE 9, SECURITIES - PUBLICLY TRADED, REPRESENTS THE TOTAL NUMBER OF CONTRIBUTIONS. FORM 990, PART V, LINES 2A AND 2B: THE SIX (6) FOUNDATION EMPLOYEES, INCLUDING THE FOUNDATION CEO AND CBO, ARE COMPENSATED DIRECTLY BY THE UNIVERSITY OF MEMPHIS, A RELATED ORGANIZATION (SEE SCHEDULE R) AND THE COMMON PAYMASTER. THE FOUNDATION REIMBURSES THE UNIVERSITY FOR ITS SHARE OF THE PAYROLL COSTS RELATED TO THOSE EMPLOYEES. ALL REQUIRED EMPLOYMENT TAX RETURNS ARE FILED BY THE UNIVERSITY. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE, AS PROVIDED FOR IN THE CHARTER, IS EMPOWERED TO CARRY ON THE BUSINESS OF THE FOUNDATION IN THE NAME OF THE BOARD OF DIRECTORS. ALL ACTIONS TAKEN BY THE EXECUTIVE COMMITTEE SHALL BE REPORTED TO THE BOARD OF DIRECTORS AT THE NEXT BOARD MEETING FOLLOWING SAID ACTION. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY AN OUTSIDE CPA FIRM AND REVIEWED BY THE CEO. A COPY IS PROVIDED TO THE FINANCE COMMITTEE AND BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, DIRECTORS & EMPLOYEES ARE REQUIRED TO DISCLOSE ANY POSSIBLE PERSONAL, FAMILIAL OR BUSINESS RELATIONSHIPS THAT REASONABLY COULD GIVE RISE TO A CONFLICT OF INTEREST INVOLVING THE UNIVERSITY OF MEMPHIS FOUNDATION OR THE UNIVERSITY OF MEMPHIS. OFFICERS, DIRECTORS & EMPLOYEES SHALL DISCLOSE RELATIONSHIPS THAT THEY OR MEMBERS OF THEIR IMMEDIATE FAMILY MAINTAIN WITH ORGANIZATIONS THAT DO BUSINESS WITH THE FOUNDATION, UNIVERSITY OR ANY RELATED OR AFFILIATED ORGANIZATION, OR WHICH OTHERWISE COULD BE CONSTRUED TO POTENTIALLY AFFECT THEIR INDEPENDENT, UNBIASED JUDGMENT IN LIGHT OF THEIR DECISION-MAKING AUTHORITIES OR RESPONSIBILITIES. SUCH DISCLOSURES ARE TO BE MADE IN WRITING TO THE PRESIDENT OF THE BOARD OF DIRECTORS. WHEN AN OFFICER, DIRECTOR OR EMPLOYEE HAS A CONFLICT OF INTEREST, HE OR SHE SHALL REFRAIN FROM VOTING ON, PARTICIPATING IN A DISCUSSION ABOUT, OR EVEN BEING PRESENT DURING VOTING ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 ALL FOUNDATION EMPLOYEES ARE LEASED FROM THE UNIVERSITY OF MEMPHIS ('UNIVERSITY'). THE FOUNDATION BOARD ('BOARD') DETERMINES THE ROLES, RESPONSIBILITIES AND QUALIFICATION REQUIREMENTS FOR EACH LEASED EMPLOYEE AND ASSESSES COMPENSATION BASED ON MARKET DEMANDS FOR SUCH TALENT. EACH FOUNDATION EMPLOYEE IS CATEGORIZED IN A UNIVERSITY PAY BAND BASED ON TASKS, EXPERIENCE AND QUALIFICATION REQUIREMENTS. THE PAY BAND INDICATES A SALARY RANGE WHICH SHOULD BE REFLECTIVE OF THE BOARD'S ASSESSMENT. THE BOARD DETERMINES COMPENSATION FOR THE FOUNDATION CEO. FOR OTHER FOUNDATION POSITIONS, THE BOARD APPROVES COMPENSATION BASED ON INPUT AND RECOMMENDATION FROM THE FOUNDATION CEO. FRINGE BENEFITS ARE NEGOTIATED AND DETERMINED BY THE STATE OF TENNESSEE. THE FOUNDATION REIMBURSES THE UNIVERSITY FOR THE FULL ANNUAL COMPENSATION, INCLUDING FRINGE BENEFITS, OF EACH LEASED EMPLOYEE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, FORM 990 & FORM 1023 ARE AVAILABLE UPON REQUEST. THE FINANCIAL STATEMENTS ARE MADE AVAILABLE ON THE ORGANIZATION'S WEBSITE AT WWW.UOFMFOUNDATION.ORG. FORM 990, PART XI, LINE 9: CHANGE IN CSV OF LIFE INSURANCE 28,645. WRITE OFF OF UNCOLLECTIBLE PLEDGES -251,809. FORM 990, PART XII, LINE 2C: THE FOUNDATION HAS A FINANCE COMMITTEE THAT ASSUMES RESPONSIBILITY FOR SELECTION OF AN INDEPENDENT ACCOUNTANT AND OVERSIGHT OF THE ANNUAL FINANCIAL STATEMENT AUDIT. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEAR. THE UNIVERSITY OF MEMPHIS 3720 ALUMNI AVE MEMPHIS TN 38152 620648618 PROVIDE HIGH QUALITY EDUCATIONAL OPPORTUNITIES TN 501(C)(3) LINE 2 N/A 0 AUXILIARY SERVICES FOUNDATION 635 NORMAL ST MEMPHIS TN 38152 472335297 AUXILIARY ENTERPRISES FOR THE DIRECT BENEFIT OF 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 PROMOTE THE EDUCATION AND RESEARCH FUNCTIONS OF THE UNIVERSITY OF MEMPHIS TN 501(C)(3) LINE 10 THE UNIVERSITY OF MEMPHIS 0 0 1 0 1 1 0 0 0 0 0 0 0 1 1 1 1 0 1 1