2024-11-04T14:38:38-06:00 2024-06-30 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2023-07-01 237034523 THE NORTHERN MICHIGAN UNIVERSITY FOUNDATION NORT 9062272627 1401 PRESQUE ISLE AVE 607 COHODAS MARQUETTE MI 49855 BRAD CANALE CHIEF EXECUTIVE OFFICER 9062272627 2024-11-01 1 1 AMANDA M COON P01754645 2695674500 2024-10-29 2023 2024-10-15 13:58:12Z BRAD CANALE 1401 PRESQUE ISLE AVE 607 COHODAS MARQUETTE MI 49855 51121944 0 X HTTPS://FOUNDATION.NMU.EDU/ X 1968 MI THE NMU FOUNDATION WILL ESTABLISH AND FOSTER RELATIONSHIPS TO GENERATE RESOURCES THAT BENEFIT THE STRATEGIC GOALS OF NORTHERN MICHIGAN UNIVERSITY. 20 19 0 25 0 0 15734952 9100148 0 0 2273153 2649692 825 -5653672 18008930 6096168 3094038 3516736 0 0 0 0 0 0 464398 1716751 1914257 4810789 5430993 13198141 665175 70883331 77295763 4998225 6729223 65885106 70566540 X THE NMU FOUNDATION WILL ESTABLISH AND FOSTER RELATIONSHIPS TO GENERATE RESOURCES THAT BENEFIT THE STRATEGIC GOALS OF NORTHERN MICHIGAN UNIVERSITY. 0 0 1462316 1462316 SCHOLARSHIPS AND OTHER FINANCIAL AID - PROVIDING FINANCIAL ASSISTANCE TO STUDENTS, ENABLING THEM TO OBTAIN A COLLEGE EDUCATION. 1005305 1005305 ACADEMIC DEPARTMENTS AND PROGRAMS - PROVIDE SUPPORT TO NORTHERN MICHIGAN UNIVERSITY'S ACADEMIC DEPARTMENTS AND PROGRAMS TO INCREASE THE EDUCATIONAL OPPORTUNITIES FOR ITS STUDENTS. 429875 429875 PUBLIC RADIO - PROVIDE OPERATING FUNDS FOR NORTHERN MICHIGAN UNIVERSITY'S PUBLIC RADIO STATION, BENEFITING THE RESIDENTS OF THE CENTRAL PORTION OF THE UPPER PENINSULA OF MICHIGAN WHO CHOOSE TO LISTEN TO IT. 424583 424583 PUBLIC TELEVISION PROVIDE OPERATING FUNDS FOR NORTHERN MICHIGAN UNIVERSITY'S PUBLIC TV STATION, BENEFITING THE RESIDENTS OF THE CENTRAL PORTION OF THE UPPER PENINSULA OF MICHIGAN WHO CHOOSE TO VIEW IT. 194657 194657 ATHLETICS PROVIDE SUPPORT FOR VARIOUS ATHLETIC PROGRAMS AT NORTHERN MICHIGAN UNIVERSITY, BENEFITING NORTHERN MICHIGAN UNIVERSITY ATHLETES, STUDENTS, AND AREA RESIDENTS. 619240 619240 3516736 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 18 0 1 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 20 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MI FL OR X BRAD CANALE 9062272627 1401 PRESQUE ISLE 607 COHODAS MARQUETTE MI 49855 BRAD M CANALE CHIEF EXECUTIVE OFFICER 40.00 0.00 X X 0 317068 75792 KEVIN C BOYLE SECRETARY/TREASURER 1.90 0.00 X X 0 0 0 JOHN F LIST PRESIDENT 1.90 0.00 X X 0 0 0 MARK B PYNNONEN VICE PRESIDENT 1.90 0.00 X X 0 0 0 JESSE W BELL TRUSTEE 0.60 0.00 X 0 0 0 CAIN BESSE TRUSTEE 0.60 0.00 X 0 0 0 WILLIAM W BOWERMAN TRUSTEE 0.60 0.00 X 0 0 0 WILLIAM W EDWARDS TRUSTEE 0.60 0.00 X 0 0 0 JOSEPH A EVANS TRUSTEE 0.60 0.00 X 0 0 0 NICOLE A BLEMBERG TRUSTEE 0.60 0.00 X 0 0 0 STEPHEN P LATUS TRUSTEE 0.60 0.00 X 0 0 0 MARK R LOVELL TRUSTEE 0.60 0.00 X 0 0 0 RUSSELL M MAGNAGHI TRUSTEE 0.60 0.00 X 0 0 0 GERARD J MOLITOR TRUSTEE 0.60 0.00 X 0 0 0 LISA M MUELLER TRUSTEE 0.60 0.00 X 0 0 0 DAVID R NERENZ TRUSTEE 0.60 0.00 X 0 0 0 MICHAEL R OSWALD TRUSTEE 0.60 0.00 X 0 0 0 CURT L TUCKER TRUSTEE 0.60 0.00 X 0 0 0 TIMOTHY P GREELEY TRUSTEE 0.60 0.00 X 0 0 0 LISA A TOMSHECK TRUSTEE 0.60 0.00 X 0 0 0 0 317068 75792 0 0 1 0 ADAMO DEMOLITION COMPANY 320 EAST SEVEN MILE ROAD DETROIT MI 48203 DEMOLITION OF FORMER HOSPITAL CAMPUS 2696901 OLOGIE LLC 447 EAST MAIN STREET COLUMBUS OH 43215 PROFESSIONAL FEES - BRAND DEVELOPMENT 290230 TRIMEDIA HOLDINGS LLC 830 WEST WASHINGTON STREET MARQUETTE MI 49855 ENVIRON. CONSULTING, PROJ. MGMT & SURVEY 280494 3 17205 848427 8234516 1055019 9100148 1632470 1632470 46042998 45025776 1017222 1017222 1017222 AUXILIARY INCOME 900099 660 660 IMPAIRMENT LOSS ON CAPITAL ASSET 900099 -5654332 -5654332 -5653672 6096168 0 0 -3003980 X 3516736 3516736 164813 164813 28599 28599 129651 129651 120024 120024 778241 465826 312415 6911 260 6651 66287 32528 33759 144193 53456 90737 23228 8396 14832 2233 539 1694 383960 383960 33356 33356 BANK FEES 18561 18561 GUEST EXPENSES 14200 9890 4310 5430993 3516736 1449859 464398 149301 73782 490398 75604 2066971 4319327 3676393 4292642 38140 70927 4489358 1042500 7392596 3446858 53319896 45963664 3749636 18490802 562157 70883331 77295763 275406 1122754 4000000 3151573 722819 2454896 4998225 6729223 X 16216454 12013733 49668652 58552807 65885106 70566540 70883331 77295763 665175 4016259 0 X X 0 1 X 1 0 X 5620163 4219779 5213973 15734952 9100148 39889015 817666 826439 840332 1060949 1032092 4577478 6437829 5046218 6054305 16795901 10132240 44466493 12775712 31690781 1471623 1040688 1895458 1838230 1632470 7878469 25706 825 660 27191 52372153 0.60510 0.59150 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING - 2019 AMOUNT: $ 24,832. MISCELLANEOUS - 2019 AMOUNT: $ 874. 2022 AMOUNT: $ 825. 2023 AMOUNT: $ 660. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 41960720 4297387 4406212 1344982 -756386 50075723 37595317 1521597 2636778 1264947 -45821 40534566 43092526 1395914 -6365326 1157797 -630000 37595317 33244749 1482741 9350646 987610 -2000 43092526 31577251 2805760 -710212 1028050 -600000 33244749 0.04880 0.95120 0.00000 1 0 2765480 2765480 1151765 792352 359413 401497 116055 285442 146642 129178 17464 23974 4915 19059 3446858 HEDGE FUNDS 4175773 F PRIVATE EQUITY FUNDS 1396741 F SEPARATELY MANAGED ACCOUNTS 12918288 F 18490802 ANNUITIES PAYABLE 373446 DUE TO NORTHERN MICHIGAN UNIVERSITY 356889 ASSET RETIREMENT OBLIGATIONS 1674561 OTHER CURRENT LIABILITIES 50000 2454896 11024495 4016259 1032092 5048351 5976144 120024 120024 6096168 6343061 1032092 1032092 5310969 120024 120024 5430993 PART V, LINE 4: TO CULTIVATE AND PROMOTE THE PRIVATE PHILANTHROPIC SUPPORT OF NORTHERN MICHIGAN UNIVERSITY'S MISSION THROUGH A COMPREHENSIVE ADVANCEMENT EFFORT. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 5144983 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 INVESTMENTS 209275 NORTH AMERICA 0 0 INVESTMENTS 148029 0 0 0 0 0 0 5502287 0 5502287 1 0 1 1 1 0 1 NORTHERN MICHIGAN UNIVERSITY 1401 PRESQUE ISLE AVE MARQUETTE MI 49855 386029206 115 424583 0 PUBLIC TELEVISION NORTHERN MICHIGAN UNIVERSITY 1401 PRESQUE ISLE AVE MARQUETTE MI 49855 386029206 115 429875 0 PUBLIC RADIO NORTHERN MICHIGAN UNIVERSITY 1401 PRESQUE ISLE AVE MARQUETTE MI 49855 386029206 115 194657 0 ATHLETIC PROGRAMS NORTHERN MICHIGAN UNIVERSITY 1401 PRESQUE ISLE AVE MARQUETTE MI 49855 386029206 115 1462316 0 SCHOLARSHIPS NORTHERN MICHIGAN UNIVERSITY 1401 PRESQUE ISLE AVE MARQUETTE MI 49855 386029206 115 838965 0 OTHER DEPARTMENTS AND PROGRAMS NORTHERN MICHIGAN UNIVERSITY 1401 PRESQUE ISLE AVE MARQUETTE MI 49855 386029206 115 0 158000 RETAIL VALUE EQUIPMENT OTHER DEPARTMENTS AND PROGRAMS NORTHERN MICHIGAN UNIVERSITY 1401 PRESQUE ISLE AVE MARQUETTE MI 49855 386029206 115 0 8340 APPRAISAL ARTWORK OTHER DEPARTMENTS AND PROGRAMS 1 0 PART I, LINE 2: ASSISTANCE TO SUPPORT NORTHERN MICHIGAN UNIVERSITY IS MADE BASED ON WRITTEN REQUESTS FROM THE UNIVERSITY THAT DOCUMENT THE PURPOSE AND USE OF THE FUNDS REQUESTED. 0 1 0 0 0 0 0 0 0 BRAD M CANALE CHIEF EXECUTIVE OFFICER 0 226771 0 0 0 90297 0 28428 0 47364 0 392860 0 60000 PART I, LINE 3 NORTHERN MICHIGAN UNIVERSITY USES THE CUPA DATA COMPENSATION SURVEY TO ESTABLISH COMPENSATION FOR THE CHIEF EXECUTIVE OFFICER. PART I, LINE 4B UNDER THE TERMS OF AN EMPLOYMENT AGREEMENT (AGREEMENT) BETWEEN NORTHERN MICHIGAN UNIVERSITY (UNIVERSITY) AND BRAD CANALE (EMPLOYEE), THE CHIEF EXECUTIVE OFFICER OF THE NORTHERN MICHIGAN UNIVERSITY FOUNDATION, THE UNIVERSITY CONTRIBUTED TO A DEFERRED COMPENSATION ACCOUNT UNDER A CODE SECTION 457(F) PLAN IN THE AMOUNT OF $20,000 DEPOSITED ON OR AROUND JUNE 15TH OF EACH YEAR DURING THE AGREEMENT. THE AGREEMENT WAS EFFECTIVE JULY 1, 2023 AND CONTINUES THROUGH JUNE 30, 2027. IF THE EMPLOYEE REMAINS AS CHIEF EXECUTIVE OFFICER UNTIL JUNE 30, 2027, HE SHALL BE FULLY VESTED IN THE FULL AMOUNT CONTAINED IN THE DEFERRED COMPENSATION ACCOUNT (INCLUDING EARNINGS, IF ANY), AS OF THAT DATE, LESS APPLICABLE WITHHOLDINGS AND DEDUCTIONS. IF THE EMPLOYEE IS TERMINATED AS CHIEF EXECUTIVE OFFICER PRIOR TO JUNE 30, 2027 FOR ANY REASON OTHER THAN DEATH OR DISABILITY, HE SHALL NOT BE ENTITLED TO RECEIVE ANY OF THE DEFERRED COMPENSATION. X 1 19650 APPRAISAL X 17 860164 FAIR MARKET VALUE X EQUIPMENT 1 158000 RETAIL VALUE X LAND IMPROVEMENT 1 17205 COST 0 1 1 PART I, COLUMN (B): THE FOUNDATION REPORTS THE NUMBER OF CONTRIBUTIONS. PART I, LINE 32B: THE FOUNDATION USES APPROPRIATE SPECIALISTS TO SELL NONCASH CONTRIBUTIONS (E.G. BROKERS TO SELL STOCKS) FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE INDEPENDENT AUDITOR, CEO OF THE FOUNDATION, NORTHERN MICHIGAN UNIVERSITY'S CONTROLLER OFFICE, AND THE GOVERNING BOARD MEMBERS ON THE INVESTMENT, FINANCE & AUDIT COMMITTEE, WHICH IS CHAIRED BY THE BOARD TREASURER, AND INCLUDES THE BOARD PRESIDENT PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C THE EMPLOYEES FOLLOW THE CONFLICT OF INTEREST AND DISCLOSURE POLICY ESTABLISHED BY NORTHERN MICHIGAN UNIVERSITY, WHICH REQUIRES ANNUAL DISCLOSURE OF ANY POTENTIAL CONFLICTS OF INTEREST. THE GOVERNING BOARD SIGNS A CODE OF CONDUCT STATEMENT THAT IN PART REQUIRES THE BOARD MEMBER TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST. IF A POTENTIAL CONFLICT OF INTEREST IS DISCLOSED, THE REMAINING TRUSTEES OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. ANY TRUSTEE WITH A CONFLICT OF INTEREST SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 ALL FOUNDATION STAFF ARE EMPLOYEES OF NORTHERN MICHIGAN UNIVERSITY (NMU) AND FOLLOW THE ESTABLISHED COMPENSATION POLICIES AND PROCEDURES OF NMU. NMU IS COMMITTED TO FAIR AND EQUITABLE COMPENSATION PRACTICES FOR ALL ITS EMPLOYEES TO ENSURE A FAIR AND EQUITABLE COMPENSATION PROGRAM IS MAINTAINED. IT IS NMU'S POLICY THAT ALL COMPENSATION DETERMINATION WILL BE BASED ON CRITERIA AS STATED IN THE NMU COMPENSATION PLAN. NMU IS COMMITTED TO IMPLEMENTING AND MAINTAINING A FAIR AND EQUITABLE COMPENSATION PROGRAM THAT COMPLIMENTS THE REQUIRED DUTIES OF EACH POSITION AS WELL AS PERFORMANCE OF INDIVIDUAL WITHIN EACH POSITION. THE HUMAN RESOURCE DEPARTMENT HAS BEEN DESIGNATED THE PLAN ADMINISTRATOR. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION MAINTAINS ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS IN ITS OFFICE AND THEY ARE AVAILABLE DURING REGULAR BUSINESS HOURS. THE PUBLIC IS INVITED TO VIEW FINANCIAL INFORMATION THAT IS SHARED ON THE WEBSITE AND MADE AVAILABLE IN THE OFFICE. DOCUMENTATION IS ALSO AVAILABLE UPON WRITTEN REQUEST. FORM 990, PART IX, LINE 11G NMU EMPLOYEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 139,776. TOTAL EXPENSES 139,776. OLOGIE - BRAND DEVELOPMENT: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 145,230. TOTAL EXPENSES 145,230. TRIMEDIA - ENVIRONMENTAL CONSULTING, PROJECT MANAGEMENT, SURVEYING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 438,513. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 438,513. OTHER FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 27,313. FUNDRAISING EXPENSES 27,409. TOTAL EXPENSES 54,722. FORM 990, PART XII, LINE 2C THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. NORTHERN MICHIGAN UNIVERSITY 1401 PRESQUE ISLE MARQUETTE MI 49855 386029206 EDUCATION MI 115 N/A N/A 0 0 1 1 0 0 0 0 0 0 1 0 1 1 1 1 1 1 0 1