2025-05-29T15:36:13-05:00 2024-09-30 454084437 WARREN AVERETT LLC 2500 ACTON ROAD BIRMINGHAM AL 35243 990 2023-10-01 562535892 AUBURN UNIVERSITY REAL ESTATE FOUNDATION INC AUBU 3348447048 PO BOX 3140 AUBURN AL 36831 ROB WELLBAUM PRESIDENT 3348447048 2025-04-05 1 1 STACY WATTS P01464575 2059794100 2025-04-05 2023 2025-03-06 01:10:19Z X ROB WELLBAUM PO BOX 3140 AUBURN AL 36831 3011744 0 X AUBURNGIVING.ORG X 2005 AL THE ORGANIZATION OPERATES FOR THE EXCLUSIVE BENEFIT AND ADVANCING THE MISSION OF AUBURN UNIVERSITY, AN EDUCATIONAL, LAND-GRANT INSTITUTION WHICH IS TAX EXEMPT UNDER IRC SECTION 115 AND AUBURN UNIVERSITY FOUNDATION, A NONPROFIT CORPORATION WHICH WAS ORGANIZED FOR THE SUPPORT OF AUBURN UNIVERSITY. 6 6 18 1607 0 0 4285975 337453 0 0 13116 -5130 62097 9528 4361188 341851 1155204 2358430 0 0 114127 108774 0 0 23392 154136 214197 1423467 2681401 2937721 -2339550 21647679 19330335 1518623 1425206 20129056 17905129 THE ORGANIZATION OPERATES FOR THE EXCLUSIVE BENEFIT OF AUBURN UNIVERSITY FOUNDATION, A NONPROFIT CORPORATION WHICH WAS ORGANIZED FOR THE SUPPORT OF AUBURN UNIVERSITY, AN EDUCATIONAL, LAND-GRANT INSTITUTION. 0 0 2358430 2358430 ADMINISTRATION AND SALE OF REAL PROPERTY AND SUBSEQUENT TRANSFER OF NET PROCEEDS TO AUBURN UNIVERSITY FOUNDATION FOR USE BY THE DEAN OF THE COLLEGE OF AGRICULTURE. 89921 EXPENSES INCURRED TO MANAGE AND MAINTAIN REAL PROPERTY IN ACCORDANCE WITH THE MISSION OF THE ORGANIZATION. 2448351 1 1 0 0 0 0 1 0 0 1 1 0 0 1 1 1 1 1 0 0 0 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 6 0 1 18 1 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 1 1 0 1 0 0 0 1 1 1 1 1 1 1 1 0 FL X X WILLIAM B HUGHES 3348447048 317 SOUTH COLLEGE STREET AUBURN AL 36849 X STEVE CATES CHAIR 0.50 2.00 X X 0 0 0 PATRICK HENRY VICE CHAIR AND TREASURER 0.50 1.50 X X 0 0 0 BEAU BYRD DIRECTOR 0.50 1.50 X 0 0 0 BENNY LARUSSA DIRECTOR (RESIGNED 7/15/2024) 0.50 0.00 X 0 0 0 DAVID WELCH DIRECTOR 0.50 0.00 X 0 0 0 GREG WINCHESTER DIRECTOR 0.50 1.50 X 0 0 0 JOHN THOMAS DIRECTOR 0.50 0.00 X 0 0 0 ROB WELLBAUM PRESIDENT 2.00 6.00 X 293808 51848 57141 ANGIE STEPHENS VICE PRESIDENT (RETIRED 12/1/2023) 7.50 5.00 X 204063 28620 40681 ERIN LEWIS CHIEF OPERATIONS OFFICER 3.50 4.00 X 253288 28143 44871 WILLIAM B HUGHES CHIEF FINANCIAL OFFICER 3.50 23.50 X 74361 107008 35517 TIMOTHY JONES ISO (VACATED 5/1/2024) 0.50 5.00 X 115072 17195 31303 CAROLYN BURROUGHS ASSISTANT TREASURER 4.00 2.00 X 80313 5126 23438 LAUREL HENDRIX ASSISTANT SECRETARY 1.50 20.00 X 40909 40909 16350 WANDA SPEROW SECRETARY 1.00 36.00 X 9448 85028 25373 LEE SHEPPARD ASST. DIR OF FINANCE 3.50 22.00 X 49927 61021 23217 CHARLES SALIBA TECHNOLOGY ARCHITECH 0.50 5.00 X 94978 12952 15232 JOHN MORRIS PRESIDENT (RESIGNED 8/1/2023) 0.00 0.00 X 241247 39599 23092 1457414 477449 336215 5 1 1 0 GARY INGRAM GRADING & PAVING 1767 GRIFFIN SHOALS ROAD DADEVILLE AL 36853 GRADING 223472 1 217000 120453 4392 337453 96395 96395 27784 18256 9528 9528 9528 32632 2517480 0 2651637 32632 -134157 -101525 -101525 341851 0 0 4398 2358430 2358430 108774 89666 19108 52552 48268 4284 42214 40147 2067 6625 6625 7864 7864 15846 6269 9577 ADMINISTRATIVE COSTS 55298 1843 53455 REPAIR AND MAINTENANCE 22223 22223 EXPENDABLE SUPPLIES 8079 8079 NONCAPITALIZED EQUIPMEN 3496 3496 2681401 2448351 209658 23392 605017 601983 50000 3317419 3410537 304478 15038 153478 289440 17521765 15028375 21647679 19330335 2606 8273 1507898 1395284 8119 21649 1518623 1425206 X 5820706 5884148 14308350 12020981 20129056 17905129 21647679 19330335 -2339550 115623 0 X X 0 1 X 1 0 X 517000 489354 3593154 4285975 337453 9222936 517000 489354 3593154 4285975 337453 9222936 4246796 4976140 21946 10564 20496 115920 124179 293105 2096 62760 64856 9580897 0.51940 0.50920 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: SETTLEMENT REVENUE - 2019 AMOUNT: $ 2,096. PROJECT MANAGEMENT FEE - 2022 AMOUNT: $ 50,000. EASEMENT INCOME - 2022 AMOUNT: $ 2,000. SALE FROM CONTENTS OF NOBLE HALL - 2022 AMOUNT: $ 10,760. SCHEDULE A, PART VI, LIST OF UNUSUAL GRANTS: DESCRIPTION: PROPERTY DATE: 09/01/22 AMOUNT: 4210963. DESCRIPTION: GOVERNMENT BONDS DATE: 09/01/22 AMOUNT: 1968024. DESCRIPTION: CASH DATE: 09/01/22 AMOUNT: 452794. DESCRIPTION: PROPERTY DATE: 12/29/20 AMOUNT: 3700000. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 111.60 0 0 1 0 0.00 0 8035162 4392 115623 8155177 8422823 28148 -415809 8035162 3016390 5465219 31220 90005 8422823 3925829 115354 94422 1119215 3016390 3382540 385000 158289 3925829 0.00000 1.00000 0.00000 0 0 109811 2247 107564 194667 12791 181876 289440 INVESTMENT IN REAL ESTATE 15028375 15028375 DUE TO AUBURN UNIVERSITY 21649 21649 X 594735 115623 115623 479112 -137261 -137261 341851 2818662 119005 18256 137261 2681401 0 2681401 PART II, LINE 9: THE ACREAGE IN THE CONSERVATION EASEMENT IS REPORTED AS INVESTMENT IN REAL ESTATE IN AUBURN UNIVERSITY REAL ESTATE FOUNDATION INC.'S BALANCE SHEET. THE LAND WAS PURCHASED IN A BARGAIN SALE IN TAX YEAR 2021. PART V, LINE 4: $3,204,860 FOR ACADEMIC UNITS $127,511 FOR ADMINISTRATION $4,133,011 FOR CAPITAL $689,795 FOR STUDENT AID PART X, LINE 2: THE REAL ESTATE FOUNDATION HAS RECEIVED A LETTER FROM THE INTERNAL REVENUE SERVICE RECOGNIZING THE REAL ESTATE FOUNDATION AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE REAL ESTATE FOUNDATION FOLLOWS THE ACCOUNTING GUIDANCE FOR UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF FASB ACCOUNTING STANDARDS CODIFICATION (ASC), 740, INCOME TAXES. AS OF SEPTEMBER 30, 2024, AND 2023, THE REAL ESTATE FOUNDATION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AND NO INTEREST AND PENALTIES RELATED TO INCOME TAXES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 115,623. PART XI, LINE 4B - OTHER ADJUSTMENTS: REALIZED LOSS ON INVESTMENT IN REAL ESTATE -119,005. RENTAL EXPENSES -18,256. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 18,256. 1 AUBURN UNIVERSITY FOUNDATION PO BOX 3140 AUBURN AL 36831 636022422 501(C)(3) 2358430 0 N/A N/A ACADEMIC UNITS 1 0 PART I, LINE 2: THE GRANTEE, AUBURN UNIVERSITY FOUNDATION, IS A SECTION 501(C)(3) ENTITY THAT IS THE SOLE MEMBER OF THE AUBURN UNIVERSITY REAL ESTATE FOUNDATION INC. (REAL ESTATE FOUNDATION) WITHIN ITS FINANCIAL SYSTEM, THE AUBURN UNIVERSITY FOUNDATION HAS FUNDS SPECIFICALLY ESTABLISHED FOR RECEIPTING AND ADMINISTERING THE GRANTS RECIEVED FROM THE REAL ESTATE FOUNDATION WHOSE SOLE PURPOSE IS TO BENEFIT AND SUPPORT THE AUBURN UNIVERSITY FOUNDATION. THE ADMINISTRATION/MANAGEMENT OF THE AUBURN UNIVERSITY FOUNDATION AND THE REAL ESTATE FOUNDATION ARE PERFORMED BY THE SAME PERSONNEL WHO HAVE ACESS TO BOTH FINANCIAL SYSTEMS FOR MONITORING. 0 0 0 0 0 0 0 0 0 ROB WELLBAUM PRESIDENT 293808 51848 0 0 0 0 38494 6793 10267 1812 342569 60453 0 0 ANGIE STEPHENS VICE PRESIDENT (RETIRED 12/1/2023) 204063 28620 0 0 0 0 26148 3667 9724 1364 239935 33651 0 0 ERIN LEWIS CHIEF OPERATIONS OFFICER 253288 28143 0 0 0 0 31200 3466 10871 1208 295359 32817 0 0 WILLIAM B HUGHES CHIEF FINANCIAL OFFICER 74361 107008 0 0 0 0 9702 13961 4952 7127 89015 128096 0 0 TIMOTHY JONES ISO (VACATED 5/1/2024) 115072 17195 0 0 0 0 16920 2528 10509 1570 142501 21293 0 0 JOHN MORRIS PRESIDENT (RESIGNED 8/1/2023) 241247 39599 0 0 0 0 13048 2142 6969 1144 261264 42885 0 0 X 1 4392 FAIR MARKET VALUE 1 0 1 1 PART I, COLUMN (B): COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTIONS. PART I, LINE 32B: AUBURN UNIVERSITY EMPLOYEES PERFORMED SERVICES FOR AUBURN UNIVERSITY REAL ESTATE FOUNDATION, INC. (REAL ESTATE FOUNDATION) AND AUBURN UNIVERSITY FOUNDATION SINCE NEITHER OF THE FOUNDATIONS HAD EMPLOYEES. IN THE COURSE OF DAILY FUND RAISING AND GENERAL OPERATIONS OF THE ENTITIES, AUBURN UNIVERSITY AND/OR AUBURN UNIVERSITY FOUNDATION SOLICIT, PROCESS, OR DISPOSE OF NONCASH CONTRIBUTIONS. THE REAL ESTATE FOUNDATION RECEIVED, MANAGED, TRANSFERRED, AND SOLD REAL PROPERTY ON THEIR BEHALF. FORM 990, PART VI, SECTION A, LINE 6 PER THE ARTICLES OF INCORPORATION, ARTICLE IV, "THE AUBURN UNIVERSITY FOUNDATION SHALL BE THE SOLE MEMBER OF THE CORPORATION." FORM 990, PART VI, SECTION A, LINE 7A FOUR OF THE SIX-MEMBER BOARD OF DIRECTORS WERE APPOINTED BY THE AUBURN UNIVERSITY FOUNDATION BOARD. TWO MEMBERS WERE ELECTED BY THE AUBURN UNIVERSITY REAL ESTATE FOUNDATION INC.'S (REAL ESTATE FOUNDATION) BOARD. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B THE RETURN WAS MADE AVAILABLE AND REVIEWED WITH THE FULL BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C A"CONFLICT OF INTEREST AND SELF-DEALING STATEMENT" IS PRESENTED TO ALL NEW MEMBERS & ANNUALLY TO RETURNING BOARD MEMBERS BY POLICY. THE STATEMENT INCLUDES THE POLICY AND AN AFFIRMATION SECTION THAT DOCUMENTS ANY POTENTIAL CONFLICT AND IS SIGNED BY EACH BOARD MEMBER. THIS SIGNED STATEMENT IS COLLECTED BY THE BOARD SECRETARY & THE RESULTS ARE REPORTED TO THE CHAIR OF THE BOARD FOR ANY NECESSARY FOLLOW-UP. FORM 990, PART VI, SECTION B, LINE 15 THE REAL ESTATE FOUNDATION HAS NO EMPLOYEES; AUBURN UNIVERSITY IS THE COMMON PAYMASTER FOR THE REAL ESTATE FOUNDATION. COMPENSATION IS BASED ON MARKET SURVEYS AND INTERNAL DATA COMPILED BY AUBURN UNIVERSITY'S HUMAN RESOURCES. AUBURN UNIVERSITY HAS A COMPENSATION COMMITTEE THAT MAY CONSIDER AND PROVIDE RECOMMENDATIONS TO THE BOARD ON POLICIES RELATED TO TOTAL COMPENSATION OF UNIVERSITY EMPLOYEES BALANCING GOOD STEWARDSHIP OF INSTITUTIONAL RESOURCES WITH PROMOTION OF A QUALITY WORK FORCE BY PROVIDING COMPETITIVE COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE REAL ESTATE FOUNDATION MAKES THE FOLLOWING GOVERNING DOCUMENTS AVAILABLE ON ITS WEBSITE AT WWW.AUBURNGIVING.ORG: FORM 990, AND DETERMINATION LETTER. THE AUDITED FINANCIAL STATEMENTS WERE CONSOLIDATED INTO AUBURN UNIVERSITY FOUNDATION'S AUDITED FINANCIAL STATEMENTS, WHICH ARE PUBLIC DOCUMENTS. THE REAL ESTATE FOUNDATION'S AUDIT REPORTS AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON WRITTEN REQUEST TO THE FOUNDATION'S SECRETARY. FORM 990, PART VII, SECTION A: AUBURN UNIVERSITY IS THE COMMON PAYMASTER FOR THE REAL ESTATE FOUNDATION. AS SUCH, COMPENSATION FROM AUBURN UNIVERSITY IS REPORTED AS COMPENSATION FROM THE FILING ORGANIZATION. REPORTABLE COMPENSATION IS BASED ON THE CALENDAR YEAR ENDING WITHIN THE ORGANIZATION'S TAX YEAR. FORM 990, PART XII, LINE 2C: PROCESS HAS NOT CHANGED FROM PRIOR YEAR. AUBURN UNIVERSITY FOUNDATION PO BOX 3140 AUBURN AL 36831 636022422 SUPPORT AUBURN UNIVERSITY AL 501(C)(3) 170(B)(1)(A) (VI) N/A 0 0 1 1 1 0 0 0 0 0 0 0 1 1 1 1 1 1 0 1 AUBURN UNIVERSITY FOUNDATION B 2358430 COST AUBURN UNIVERSITY FOUNDATION C 217000 COST AUBURN UNIVERSITY FOUNDATION D 93118 COST