2025-10-29T13:26:31-05:00 2025-06-30 251622758 MAHER DUESSEL CPA'S 503 MARTINDALE STREET SUITE 600 PITTSBURGH PA 15212 990 2024-07-01 256087074 THE FOUNDATION FOR INDIANA UNIVERSITY OF PENNSYLVANIA (IUP) FOUN 7243573184 1011 SOUTH DRIVE INDIANA PA 15705 ELIZABETH LAUBER EXECUTIVE DIRECTOR 7243573184 2025-10-29 1 0 ELIZABETH E KRISHER P10275616 4124715500 2024 2025-03-06 01:10:19Z ELIZABETH LAUBER 1011 SOUTH DRIVE INDIANA PA 15705 30505156 0 X WWW.IUP.EDU/FOUNDATION X 1967 PA TO PROVIDE PHILANTHROPIC SUPPORT TO INDIANA UNIVERSITY OF PENNSYLVANIA. 17 17 8 22 0 0 6320818 7705991 8666385 8526306 8380683 8373575 893683 888905 24261569 25494777 4734902 5298121 0 0 1479565 1564676 0 0 0 12037969 11110732 18252436 17973529 6009133 7521248 242606669 254532222 118081493 115678709 124525176 138853513 TO PROVIDE PHILANTHROPIC SUPPORT TO INDIANA UNIVERSITY OF PENNSYLVANIA. 0 0 9795442 10185 7547426 THE FOUNDATION FOR IUP OWNS AND RENTS RESIDENTIAL HOUSING TO STUDENTS OF IUP. 4350563 4350563 PROVIDES SCHLOLARSHIPS AND AWARDS TO STUDENTS OF IUP. 2623858 937373 1886381 PROVIDES EDUCATIONAL SUPPORT TO VARIOUS COLLEGES AND DEPARTMENTS AT IUP. 16769863 1 1 0 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 0 0 0 0 0 0 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 1 54 0 8 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 17 17 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X ELIZABETH LAUBER 7243573184 1011 SOUTH DRIVE INDIANA PA 15705 DAVID BLUEMLING VICE PRESIDENT 5.00 2.00 X X 0 0 0 BRYAN MOORE DIRECTOR 1.00 X 0 0 0 ANDREW LONGACRE SECRETARY/TREASURER 1.00 X X 0 0 0 FRANK CONDINO DIRECTOR 1.00 1.00 X 0 0 0 CHAR KOPCHICK DIRECTOR 1.00 X 0 0 0 SUSAN MANN DIRECTOR 1.00 1.00 X 0 0 0 DONNA GRIFFITH DIRECTOR 1.00 1.00 X 0 0 0 CHUCK OSHURAK DIRECTOR 1.00 1.00 X 0 0 0 NICOLE GABRIEL DIRECTOR 1.00 X 0 0 0 ELIZABETH LAUBER EXECUTIVE DIRECTOR 37.50 7.50 X 182045 0 18204 RANDY THORNTON DIRECTOR OF FINANCIAL OPS 32.50 5.50 X 90102 0 9010 JAMES LEDA PRESIDENT 5.00 X 0 0 0 J THOMAS FRANTZ DIRECTOR 1.00 2.00 X 0 0 0 RICHARD CARUSO DIRECTOR 1.00 1.00 X 0 0 0 PAMELA SPIKNER DIRECTOR 1.00 X 0 0 0 PAMELA SLEDGE-COLEY DIRECTOR 1.00 X 0 0 0 SHERRY ULSH DIRECTOR 1.00 X 0 0 0 MEGAN BAKER DIRECTOR 1.00 X 0 0 0 ANDREW SANDBERG DIRECTOR 1.00 X 0 0 0 272147 0 27214 1 0 1 0 0 135429 7570562 283941 7705991 RESIDENCE HALL RENTAL 532000 7547426 7547426 MANAGEMENT FEE INCOME 813211 978880 978880 8526306 6849174 6849174 6421084 4896683 1524401 1524401 1524401 95100 135429 113696 -18596 -18596 NON GIFT INCOME 900099 820918 820918 HOUSING OVERHEAD FEES 900099 86583 86583 907501 25494777 9433807 0 8354979 5298121 5298121 290202 290202 1089693 693672 396021 32871 16870 16001 98671 50639 48032 53239 27323 25916 1288039 1264471 23568 58916 58916 23559 23559 265143 265143 445452 434787 10665 27265 26965 300 379981 379723 258 56409 13531 42878 1216363 1216363 88158 86811 1347 52600 52600 4384532 4384532 1857479 1857479 169200 169200 FOOD SUPPLIES & SERVICE 227482 226622 860 PAYMENT IN LIEU OF TAXE 196020 196020 INTERNAL CHARGEBACK 159330 159330 BAD DEBT EXPENSE 106658 106658 108146 108146 17973529 16769863 1203666 0 2858490 4632166 2384771 3156573 416521 277633 71660776 32262125 40970976 39398651 118298293 117778378 12166244 24917255 65511374 64371566 242606669 254532222 1732822 2041029 72779 24704 103795740 100631753 6920337 7170663 5559815 5810560 118081493 115678709 X 32069765 34069693 92455411 104783820 124525176 138853513 242606669 254532222 X 7521248 6995910 -188821 X X 0 1 X 1 0 X 4512719 5724397 4781246 6320818 7705991 29045171 4512719 5724397 4781246 6320818 7705991 29045171 2977630 26067541 1879983 3235675 5486124 6411491 6849174 23862447 681707 1051789 1044559 900336 907501 4585892 57493510 56041016 0.45340 0.49200 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: NON GIFT INCOME - 2020 AMOUNT: $ 681,707. 2021 AMOUNT: $ 1,051,789. 2022 AMOUNT: $ 1,044,559. 2023 AMOUNT: $ 813,753. 2024 AMOUNT: $ 820,918. HOUSING OVERHEAD FEES - 2023 AMOUNT: $ 86,583. 2024 AMOUNT: $ 86,583. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1132822 X X X X 0 0 1 X 85821433 4139111 6789838 1696795 278209 715301 94060077 77270005 2823875 8072379 1665798 541537 137491 85821433 72119043 1298222 7144481 2023631 593316 674794 77270005 78377403 2956286 -6804589 1415769 390815 603473 72119043 60550163 2955474 17531441 1320083 597606 741986 78377403 0.03209 0.51069 0.45722 0 0 66781058 28165695 38615363 259402 103708 155694 4620316 3992722 627594 39398651 PRIVATE EQUITY AND PRIVATE DEBT 24917255 F 24917255 INSURANCE INVESTMENT 45289 ART WORK 1132822 RESTRICTED CASH HELD WITH TRUSTEE 12034466 RIGHT-OF-USE ASSETS 951972 MASTER LEASE RECEIVABLE 50207017 64371566 ACCRUED INTEREST PAYABLE 908499 INTEREST RATE SWAP TERMINATION PAYABLE 3632760 TRUSTS AND ANNUITIES PAYABLE 99646 GROUND LEASE LIABILITY 1169655 5810560 X 33551740 6995910 1212500 -151447 8056963 25494777 0 25494777 19223403 1212500 37374 1249874 17973529 0 17973529 PART III, LINE 4: THE ARTWORK COLLECTION HELD BY THE FOUNDATION IS A COLLECTION OF ART DONATED TO BE USED BY THE UNIVERSITY FOR EDUCATIONAL PURPOSES. PART IV, LINE 2B: THE FOUNDATION HOLDS INVESTMENTS FOR THE INDIANA UNIVERSITY OF PENNSYLVANIA (IUP) ALUMNI ASSOCIATION. THE INVESTMENTS ARE INCLUDED IN THE FOUNDATION'S INVESTMENT ACCOUNTS. CONTRIBUTIONS TO AND DISBURSEMENTS FROM THE ACCOUNT DIRECTLY INCREASE OR DECREASE THE LIABILITY. A PORTION OF THE REALIZED AND UNREALIZED INVESTMENT INCOME OR LOSS EARNED BY THE FOUNDATION IS CREDITED TO THE LIABILITY AND IS CALCULATED BASED ON THE PROPORTIONATE VALUE OF THE AMOUNT HELD FOR THE IUP ALUMNI ASSOCIATION TO THE TOTAL VALUE OF THE FOUNDATION'S INVESTMENT ACCOUNTS. AMOUNTS HELD FOR THE IUP ALUMNI ASSOCIATION ARE INCLUDED IN INVESTMENTS ON THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION. THE FOUNDATION HAS NO SPENDING AUTHORITY OVER THIS FUND. PART V, LINE 4: THE INTENDED USE OF THE FOUNDATION'S ENDOWMENT FUNDS IS TO PROVIDE ACADEMIC AND PROGRAMMATIC SUPPORT TO INDIANA UNIVERSITY OF PA. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER CODE SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, BASED ON A DETERMINATION LETTER DATED APRIL 3, 2007. THE FOUNDATION IS CLASSIFIED AS A PUBLIC CHARITY BY THE COMMONWEALTH OF PENNSYLVANIA AND IS EXEMPT FROM STATE TAXES ON RELATED INCOME. THE FOUNDATION IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS OR ANY ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME TAXES. CRIMSON HAWKS IS NOT A TAXPAYING ENTITY FOR FEDERAL OR STATE INCOME TAX PURPOSES, THEREFORE, NO PROVISION OR LIABILITY FOR FEDERAL OR STATE INCOME TAXES IS INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE FOUNDATION AND CRIMSON HAWKS FOLLOW THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. THIS STANDARD PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT PRINCIPLE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENTS OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. AS A RESULT OF THE APPLICATION, THE FOUNDATION AND CRIMSON HAWKS EVALUATED ITS TAX POSITIONS AND DETERMINED THERE WERE NO UNCERTAIN TAX POSITIONS FOR EITHER OF THE YEARS ENDED JUNE 30, 2025 OR 2024. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE NETTED WITH INCOME 113,696. UNREALIZED GAIN ON INTEREST RATE SWAP AGREEMENTS INVESTMENT MANAGEMENT FEES -265,143. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE NETTED WITH INCOME 113,696. LOSS ON UNCOLLECTIBILE PLEDGES 188,821. INVESTMENT MANAGEMENT FEES -265,143. MEN'S BASKETBALL GOLF OUTING 71480 53500 17980 920 9879 7762 750 4455 EBERLY BUSINESS GOLF OUTING 53838 34686 19152 760 9918 8541 5199 3 105211 47243 57968 127 21808 28638 14939 230529 135429 95100 1807 41605 44941 750 24593 113696 -18596 1 INDIANA UNIVERSITY OF PENNSYLVANIA 1011 SOUTH DRIVE INDIANA PA 15705 251470695 5298121 0 SCHOLARSHIPS & PROGRAM SUPPORT 1 PART I, LINE 2: THE FOUNDATION FOR INDIANA UNIVERSITY OF PENNSYLVANIA PROVIDES SCHOLARSHIP DOLLARS TO THE UNIVERSITY TO DISBURSE TO INDIVIDUAL STUDENTS AT THEIR DISCRETION. THE UNIVERSITY, IN PARTNERSHIP WITH THE FOUNDATION, MAINTAINS PROPER RECORDS TO SUBSTANTIATE THE AMOUNT OF, AND THE GRANTEE'S ELIGIBILITY FOR, THE GRANT OR ASSISTANCE, AS WELL AS THE SELECTION CRITERIA USED IN AWARDING SCHOLARSHIPS. THE FOUNDATION FOR INDIANA UNIVERSITY OF PENNSYLVANIA PROVIDES PROGRAM SUPPORT DOLLARS TO IUP COLLEGES AND ACADEMIC DEPARTMENTS, ATHLETIC DEPARTMENTS, AND FUNDING NEEDS OF THE UNIVERSITY FOR RENOVATIONS, MAINTENANCE OF GROUNDS AND BUILDINGS OTHER THAN STUDENT HOUSING. THE UNIVERSITY, IN PARTNERSHIP WITH THE FOUNDATION, MAINTAINS PROPER RECORDS TO SUBSTANTIATE THE AMOUNT OF. X X 0 0 0 0 0 0 0 0 0 ELIZABETH LAUBER EXECUTIVE DIRECTOR 182045 0 0 0 0 0 0 0 18204 0 200249 0 0 0 A PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 232248352 70917RKD6 2007-05-15 80540000 TO FINANCE CONSTRUCTION OF STUDENT HOUSING FACILITY 0 0 0 B INDIANA COUNTY INDUS DEVELOPMENT AUTHORITY 251782229 45469NEY0 2022-08-11 50075000 REFINANCE ORIGINAL LOAN USED TO CONSTRUCT STUDENT HOUSING FACILITY 0 0 0 A 80540000 6493664 1354900 3376850 2305487 68655064 2008 0 0 1 1 B 50075000 2022 0 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 0 0 1 1 1 DEUTSCHE BANK 32.000000000000 1 1 0 0 0 B 0 0 0 1 0 0 0 0 0 A 0 B 0 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 05/01/2025 SCHEDULE K, LINE IV, LINE 4E EFFECTIVE MARCH 6, 2025, THE COUNTER PARTY EXERCISED THEIR CONTRACTUAL RIGHTS TO TERMINATE THE TWO SWAP AGREEMENTS. X 8 8 APPRAISAL X 29 283933 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 1A THE STANDING COMMITTEES OF THE FOUNDATION SHALL BE THE EXECUTIVE COMMITTEE, THE GOVERNANCE COMMITTEE, FINANCE COMMITTEE, INVESTMENT COMMITTEE, GROWTH AND IMPACT COMMITTEE, AND AUDIT COMMITTEE. THE BOARD OF DIRECTORS MAY, BY RESOLUTION ADOPTED BY AT LEAST A MAJORITY OF THE VOTING DIRECTORS IN OFFICE, ESTABLISH ONE OR MORE ADDITIONAL STANDING OR OTHER COMMITTEES AND TERMINATE ANY STANDING OR OTHER COMMITTEE. NOTICE OF A PROPOSAL TO ESTABLISH OR ELIMINATE A STANDING COMMITTEE SHALL BE GIVEN AT LEAST FIVE (5) DAYS PRIOR TO THE DATE OF ANY REGULAR OR SPECIAL MEETING OF THE BOARD OF DIRECTORS AT WHICH SUCH PROPOSAL WILL BE CONSIDERED. EACH STANDING COMMITTEE SHALL HAVE SUCH NUMBER OF VOTING MEMBERS AS ARE STATED IN THE BYLAWS. EACH STANDING COMMITTEE ESTABLISHED BY THE BOARD OF DIRECTORS IN COMPLIANCE WITH THE BYLAWS SHALL HAVE SUCH NUMBER OF VOTING MEMBERS AS THE BOARD MAY DESIGNATE. THE FOUNDATION'S PRESIDENT SHALL BE A VOTING MEMBER AND CHAIR OF THE EXECUTIVE COMMITTEE AND EX OFFICIO NON-VOTING MEMBER OF ALL OTHER COMMITTEES. THE BOARD MAY APPOINT NOT MORE THAN TWO (2) ADDITIONAL EX OFFICIO MEMBERS OF EACH COMMITTEE. THE CHAIR OF EACH COMMITTEE MUST BE A FOUNDATION DIRECTOR. EXCEPTING ONLY A COMMITTEE CHAIR, COMMITTEE MEMBERS MAY, BUT NEED NOT BE, DIRECTORS OF THE FOUNDATION. ALL COMMITTEE MEMBERS SHALL HAVE THE RIGHT TO VOTE AND SHALL BE COUNTED IN DETERMINING THE PRESENCE OF A QUORUM. THE MAJORITY OF THE VOTING MEMBERS OF A COMMITTEE IN OFFICE SHALL BE NECESSARY TO CONSTITUTE A QUORUM FOR THE TRANSACTION OF BUSINESS, AND THE ACTS OF A MAJORITY OF THE VOTING MEMBERS PRESENT AT A MEETING AT WHICH A QUORUM WAS PRESENT WHEN THE MEETING BEGAN SHALL BE THE ACTS OF THE COMMITTEE. FORM 990, PART VI, SECTION A, LINE 4 IN 2025, THE FOUNDATION AMENDED ITS BYLAWS TO ENHANCE GOVERNMENT AND OPERATIONAL EFFICIENCY. KEY CHANGES INCLUDED SPLITTING THE GROWTH AND IMPACT COMMITTEE INTO TWO, EXPANDING THE EXECUTIVE COMMITTEE, AND BROADENING THE RESPONSIBILITIES OF THE FINANCE, INVESTMENT, AUDIT, AND GOVERNANCE COMMITTEES TO INCLUDE STRATEGIC PLANNING, POLICY DEVELOPMENT, AND ENHANCED OVERSIGHT FUNCTIONS. THE BOARD APPROVED THESE AMENDMENTS. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS DELEGATES THE REVIEW OF THE 990 AND RELATED SCHEDULES TO THE AUDIT COMMITTEE AND DIRECTOR OF FINANCIAL OPERATIONS UNDER THEIR RECOMMENDATION, THE 990 IS APPROVED FOR FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE BYLAWS STATE THAT AN INDIVIDUAL MUST EXPOSE THE CONFLICT AND REMOVE THEMSELVES FROM THE VOTE IF THE BOARD HAS REASONABLE CAUSE TO BELIEVE THAT A DIRECTOR, OFFICER, OR COMMITTEE MEMBER HAD FAILED TO DISCLOSE AN ACTUAL OR POSSIBLY FINANCIAL INTEREST, IT WILL AFFORD THE DIRECTOR, OFFICER OR COMMITTEE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE THE CONFLICT OF INTEREST. IF AFTER HEARING THE RESPONSE AND MAKING SUCH FURTHER INVESTIGATION AS THE BOARD DEEMS APPROPRIATE, THE BOARD DETERMINES THAT THE DIRECTOR, OFFICER OR COMMITTEE MEMBER HAS IN FACT FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT WILL TAKE APPROPRIATE ACTION, WHICH MAY INCLUDE IMMEDIATE REMOVAL FROM THE POSITION HELD WITHIN THE FOUNDATION FOR IUP. FORM 990, PART VI, SECTION B, LINE 15 THE FOUNDATION FOR IUP HAS AN EXECUTIVE COMMITTEE MADE UP OF BOARD MEMBERS WHO EVALUATE THE COMPENSATION FOR THE DIRECTOR AND ALL EMPLOYEES OF THE ORGANIZATION USING AVAILABLE COMPARABILITY DATA. THE EXECUTIVE COMMITTEE REVIEWS AND APPROVES THE COMPENSATION AND BRINGS THE DECISIONS TO THE FULL BOARD OF DIRECTORS TO APPROVE. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: LOSSES ON UNCOLLECTIBLE PLEDGES -188,821. UNREALIZED GAIN ON INTEREST SWAP AGREEMENT FORM 990, PART XII, LINE 2C PROCESS HAS NOT CHANGED FROM PRIOR YEAR. 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