2026-05-01T13:32:39-05:00 2025-06-30 341874260 CBIZ ADVISORS LLC 700 WEST 47TH STREET SUITE 1100 KANSAS CITY MO 64112 990 2024-07-01 626048540 UNIVERSITY OF MEMPHIS FOUNDATION UNIV 9016783256 635 NORMAL ST ALUMNI CENTER 108 MEMPHIS TN 38152 TARA JONES PRESIDENT 9016783256 2026-04-30 1 1 LISA BURKE P00220718 8169455500 2024 2025-03-06 01:10:19Z TARA JONES 635 NORMAL ST ALUMNI CENTER 108 MEMPHIS TN 38152 70730232 0 X WWW.UOFMFOUNDATION.ORG X 1964 TN THE FOUNDATION ACCEPTS, MANAGES, AND DISBURSES PRIVATE SUPPORT TO THE UNIVERSITY OF MEMPHIS. 17 15 6 16 252685 0 29105214 53410987 5341618 4550859 6502424 8440361 0 0 40949256 66402207 21569885 28528195 0 0 698840 806672 0 0 0 536197 823190 22804922 30158057 18144334 36244150 264333656 347186036 19063762 10758179 245269894 336427857 THE FOUNDATION ACCEPTS, MANAGES, AND DISBURSES PRIVATE SUPPORT TO THE UNIVERSITY OF MEMPHIS. 0 0 28549850 28528195 4550859 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. 28549850 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 213 0 1 6 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 17 15 0 0 1 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 DR BILL HARDGRAVE DIRECTOR 1.00 39.00 X 0 711906 24546 RENE BUSTAMANTE DIRECTOR 1.00 39.00 X 0 323219 53878 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 GLYNNA CHRISTIAN VICE PRESIDENT ELECT 1.00 0.00 X X 0 0 0 TANYA HART TREASURER 1.00 0.00 X X 0 0 0 REGINALD PORTER 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 MARK CHRISTOPHER DIRECTOR 1.00 0.00 X 0 0 0 HOLLY GOUGHNOUR DIRECTOR 1.00 0.00 X 0 0 0 LAURALAN GRISONI DIRECTOR 1.00 0.00 X 0 0 0 DAPHNE LARGE DIRECTOR 1.00 0.00 X 0 0 0 JOHN MICKEY ROBINSON DIRECTOR 1.00 0.00 X 0 0 0 DOUGLAS SCARBORO DIRECTOR 1.00 0.00 X 0 0 0 DAVID SCULLY DIRECTOR 1.00 0.00 X 0 0 0 MONICA WHARTON DIRECTOR 1.00 0.00 X 0 0 0 HARRY SMITH DIRECTOR (THRU 12/31/24) 1.00 0.00 X 0 0 0 HOLLY FORD FOUNDATION CEO 30.00 10.00 X 174099 0 30279 MARK NICELL FOUNDATION CBO 30.00 10.00 X 145153 0 13964 319252 1035125 122667 2 0 1 0 VANGUARD 100 VANGUARD BLVD MALVERN PA 19355 INVESTMENT FEES 266396 1 53410987 2127619 53410987 M CLUB MEMBERSHIP BENEFITS 711210 4550859 4550859 4550859 7198653 252685 6945968 5569733 4328025 1241708 1241708 1241708 66402207 4550859 252685 8187676 28528195 28528195 371238 371238 258834 21655 237179 41390 41390 135210 135210 280029 280029 49599 49599 335232 335232 34426 34426 73895 73895 198 198 14923 14923 1835 1835 5970 5970 26983 26983 100 100 30158057 28549850 1608207 0 17215894 21456929 33656953 45745787 35812 36110 29848 8614 27204 21234 183712873 246353474 29013360 33382440 671560 190062 264333656 347186036 338341 196827 18725421 10561352 19063762 10758179 X 7596302 41847776 237673592 294580081 245269894 336427857 264333656 347186036 X 36244150 24856200 30057613 X X 0 1 X 1 0 X 31976170 52204271 43126201 29105214 53410987 209822843 31976170 52204271 43126201 29105214 53410987 209822843 16410604 193412239 3701578 3097459 3708242 5150854 6945968 22604101 232426944 12354627 0.83210 0.80440 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 173630261 4781879 23262020 4399190 197274970 151085321 5389023 20882331 3726414 173630261 125876850 13513175 14494884 2799588 151085321 136668225 12285239 -20308899 2767715 125876850 96488206 10860668 32930842 3611491 136668225 0.00000 0.65346 0.34654 0 0 29848 8614 21234 21234 LIMITED PARTNERSHIPS & LLCS 33382440 F 33382440 GIFT ANNUITY OBLIGATIONS 52374 DUE TO AFFILIATES 10508978 10561352 X 91307070 24856200 276429 66514 25199143 66107927 294280 294280 66402207 31079046 276429 938840 1215269 29863777 294280 294280 30158057 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, 2025 AND 2024. THE FOUNDATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2025. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN CSV OF LIFE INSURANCE 13,295. CHANGE IN VALUE OF GIFT ANNUITIES 53,219. PART XII, LINE 2D - OTHER ADJUSTMENTS: WRITE OFF OF UNCOLLECTIBLE PLEDGES 938,840. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 20993256 0 0 0 0 0 0 20993256 0 20993256 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 11780442 0 N/A N/A UNIVERSITY AWARDS AND SCHOLARSHIPS UNIVERSITY OF MEMPHIS 3720 ALUMNI AVE MEMPHIS TN 38152 620648618 GOVERNMENT UNIT 6272032 0 N/A N/A UNIVERSITY SUPPORT, ADVANCEMENT, AND SPECIAL PROJECTS UNIVERSITY OF MEMPHIS 3720 ALUMNI AVE MEMPHIS TN 38152 620648618 GOVERNMENT UNIT 0 10475721 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: ADVERTISING $3,326 ANNUITY EXPENSES $11,100 CONFERENCES $679,890 INSURANCE $12,263 INTEREST EXPENSE $80,537 LEGAL FEES $5,000 OCCUPANCY $320,864 OFFICE EXPENSES $881,369 PROFESSIONAL FEES $1,613,226 SPONSORSHIPS AND DONATIONS $157,353 TRAVEL $248,213 MAJOR PROJECTS* $6,462,580 TOTAL: $10,475,721 *MAJOR PROJECTS SUPPORTED IN FY25 INCLUDE THE LEFTWICH TENNIS FACILITY, HOUSTON STREET REAL ESTATE PROPERTY ACQUISITIONS, OLYMPIC TRAINING ROOM HYDROTHERAPY POOL PROJECT, AND UNIVERSITY HIGH SCHOOL LAB RENOVATIONS. 0 0 0 0 0 0 0 0 0 DR BILL HARDGRAVE DIRECTOR 0 681306 0 0 0 30600 0 650 0 23896 0 736452 0 0 RENE BUSTAMANTE DIRECTOR 0 292119 0 0 0 31100 0 30573 0 23305 0 377097 0 0 HOLLY FORD FOUNDATION CEO 173199 0 300 0 600 0 18721 0 11558 0 204378 0 0 0 MARK NICELL FOUNDATION CBO 143553 0 1000 0 600 0 13964 0 0 0 159117 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 44 2127619 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 A, LINE 4 PURSUANT TO A CERTIFICATE AND ARTICLES OF MERGER EFFECTIVE JULY 1, 2024, THE HERFF TRUST WAS TRANSITIONED INTO THE FOUNDATION FOR OVERSIGHT. THE TRUST IS IN A SEPARATE AND CLEARLY IDENTIFIABLE FUND WITHIN THE FOUNDATION. THE FISCAL YEAR 2025 FINANCIAL STATEMENTS INCLUDE THE ACCOUNTS OF THE TRUST. THE TRUST WAS FORMED EXCLUSIVELY FOR THE BENEFIT OF THE UNIVERSITY AND CONTINUES TO HELP SUSTAIN AND EXPAND UNIVERSITY PROGRAMS. 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 13,295. CHANGE IN VALUE OF GIFT ANNUITIES 53,219. TRANSITION OF THE HERFF TRUST UNDER UMF OVERSIGHT 30,929,939. WRITE OFF OF UNCOLLECTIBLE PLEDGES -938,840. 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