Civic Intelligence

Hodges University Foundation Inc

990 • Fiscal year 2012 • EIN 65-1176465

Jul 01, 2011 to Jun 30, 2012 • Filed on Oct 17, 2012

2655 Northbrooke Drive34119
Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$4,674,359

Flat from 2012

Net Assets

Flat

$4,674,359

Flat from 2012

Liabilities

Flat

$0

Flat from 2012

Revenue And Expenses

Revenue

-

No earlier filing loaded for comparison.

Expenses

Flat

$150,000

Flat from 2012

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2010: $3,877,455Liabilities 2010: $0Net Assets 2010: $3,877,4552010Assets 2011: $5,013,710Liabilities 2011: $0Net Assets 2011: $5,013,7102011Assets 2012: $4,674,359Liabilities 2012: $0Net Assets 2012: $4,674,3592012Assets 2012: $4,674,359Liabilities 2012: $0Net Assets 2012: $4,674,3592012Assets 2013: $4,676,878Liabilities 2013: $0Net Assets 2013: $4,676,8782013

Highlighted filing

2012

Assets$4,674,359
Liabilities$0
Net Assets$4,674,359

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KExpenses 2010: $02010Expenses 2011: $02011Expenses 2012: $150,0002012Revenue 2012: $88,914Expenses 2012: $150,000Net Income 2012: -$61,0862012Revenue 2013: $775,967Expenses 2013: $227,602Net Income 2013: $548,3652013

Highlighted filing

2012

Revenue-
Expenses$150,000
Net Income-
Jump To
Filing Snapshot
Filing Period
Jul 1, 2011 to Jun 30, 2012
Signed
Oct 17, 2012
Return Version
2011v1.2
Gross Receipts
$8,218,595
Filing and Contact Details

Filer

EIN
65-1176465
Raw XML AppendixShowing 400 of 461 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation0THE HODGES UNIVERSITY FOUNDATION, INC. ENDOWMENT FUNDS ARE INVESTED TO PRODUCE GAINS THAT ARE TO BE DISTRIBUTED AS SUPPORT TO HODGES UNIVERSITY, INC. ACCORDING TO THE INVESTMENT AND PAYOUT POLICIES ADOPTED BY THE HODGES UNIVERSITY FOUNDATION, INC. BOARD OF DIRECTORS.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation1THE UNIVERSITY AND FOUNDATION ARE TAX-EXEMPT ORGANIZATIONS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THEY ARE NOT CONSIDERED A PRIVATE FOUNDATION AND CONTRIBUTIONS ARE CONSIDERED TAX DEDUCTIBLE. THE UNIVERSITY AND FOUNDATION ARE SUBJECT TO FEDERAL INCOME TAX ONLY ON NET UNRELATED BUSINESS INCOME UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. FOR THE YEARS ENDED JUNE 30, 2012 AND 2011, THE UNIVERSITY AND FOUNDATION HAVE NO OBLIGATION FOR UNRELATED BUSINESS INCOME TAX. ACCORDINGLY, NO PROVISIONS FOR FEDERAL OR STATE INCOME TAXES ARE REQUIRED. THE UNIVERSITY AND FOUNDATION HAVE ADOPTED THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. AS A RESULT OF THE IMPLEMENTATION, THE UNIVERSITY AND FOUNDATION EVALUATED ITS TAX POSITIONS AND DETERMINED IT HAS NO UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2012 AND 2011. THE UNIVERSITY AND FOUNDATION'S 2009 THROUGH 2011 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES.
IRS990ScheduleD/Form990ScheduleDPartXIV/Identifier0DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS:
IRS990ScheduleD/Form990ScheduleDPartXIV/Identifier1DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48:
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IRS990ScheduleI/Form990ScheduleIPartIV/Explanation0SCHEDULE I, PART I, LINE 2: HODGES UNIVERSITY FOUNDATION MAINTAINS AN ENDOWMENT TO SUPPORT HODGES UNIVERSITY. THE ENDOWMENT CONTAINS FUNDS GIVEN IN GENERAL SUPPORT OF HODGES UNIVERSITY, AS WELL AS FUNDS DONATED FOR SPECIFIC PURPOSES, SUCH AS SCHOLARSHIPS. THE FUNDS PROVIDED ARE WITHIN THE CONSOLIDATED FINANCIAL STATEMENTS.
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IRS990ScheduleJ/Form990ScheduleJPartIII/Explanation0FOR THE PURPOSES OF DETERMINING COMPENSATION, THE FOUNDATION RELIED ON A RELATED ORGANIZATION TO ESTABLISH COMPENSATION OF THE PRESIDENT. THE RELATED ORGANIZATION USED THE FOLLOWING PRACTICES FOR ESTABLISHING COMPENSATION FOR THIS POSITION: COMPENSATION COMMITTEE, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
IRS990ScheduleJ/Form990ScheduleJPartIII/Identifier0SUPPLEMENTAL INFORMATION
IRS990ScheduleJ/Form990ScheduleJPartIII/ReturnReference0PART III
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IRS990ScheduleO/GeneralExplanation/Explanation0T. MCMAHAN, J. WHITE, F. NERONE, AND P. MEMOLI HAVE A BUSINESS RELATIONSHIP.
IRS990ScheduleO/GeneralExplanation/Explanation1MANAGEMENT WILL UNDERTAKE A COMPREHENSIVE REVIEW OF THE FORM 990 AND ITS SCHEDULES IMMEDIATELY UPON ITS COMPLETION, AND WILL ADDRESS ALL OF ITS QUESTIONS AND CONCERNS WITH THE PREPARER. THE GOVERNING BOARD HAS DELEGATED THE RESPONSIBILITY FOR REVIEWING THE 990 RETURN PRIOR TO FILING TO A REVIEW COMMITTEE COMPOSED OF THE CURRENT CHAIRMAN, FORMER CHAIRMAN, LIAISON TO THE UNIVERSITY BOARD OF TRUSTEES, AND THE TREASURER. THIS COMMITTEE REVIEWS THE RETURN THOROUGHLY PRIOR TO FILING.
IRS990ScheduleO/GeneralExplanation/Explanation2ALL TRUSTEES, OFFICERS AND KEY EMPLOYEES OF THE UNIVERSITY ARE REQUIRED TO SUBMIT ANNUAL DISCLOSURE STATEMENTS. THE STATEMENTS ARE REVIEWED BY THE SENIOR MANAGEMENT AND THE INDEPENDENT AUDITOR TO DETERMINE IF ANY RELATIONSHIPS NEED TO BE DISCLOSED IN THE AUDITED FINANCIAL STATEMENTS OR THE FORM 990. IN CASE OF ANY POTENTIAL REAL OR PERCEIVED CONFLICT OF INTEREST, AFFILIATED PERSONS ARE EXPECTED TO DISCLOSE THE CONFLICT IN ADVANCE. ONCE SUCH A DISCLOSURE HAS BEEN MADE, THE CHAIRMAN OF THE BOARD OF TRUSTEES SHALL DETERMINE WHETHER OR NOT THERE IS A POTENTIAL CONFLICT OF INTEREST. IF IT IS DETERMINED THAT THERE IS A POTENTIAL CONFLICT OF INTEREST, THE AFFILIATED PERSON INVOLVED SHALL ABSTAIN FROM VOTING AND SHALL NOT PARTICIPATE IN THE DISCUSSION OF THE MATTER AT ISSUE EXCEPT TO STATE BRIEFLY HIS OR HER POSITION IN THE MATTER AND TO ANSWER SPECIFIC QUESTIONS. THIS ABSTENTION SHALL BE REFLECTED IN THE MEETING MINUTES.
IRS990ScheduleO/GeneralExplanation/Explanation3NO EMPLOYEES ARE PAID BY THE ORGANIZATION. OFFICERS' COMPENSATION OF THE RELATED ORGANIZATION, HODGES UNIVERSITY, INC. IS DETERMINED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, WHICH CONSIDERS COMPARABILITY DATA AMONG MANY OTHER FACTORS. MINUTES ARE PRODUCED AT EACH MEETING OF THE COMMITTEE AND THEIR RECOMMENDATIONS MUST BE APPROVED BY THE FULL BOARD OF TRUSTEES.
IRS990ScheduleO/GeneralExplanation/Explanation4THE FOUNDATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/GeneralExplanation/Explanation5NET UNREALIZED LOSSES ON INVESTMENTS: -278,265.
IRS990ScheduleO/GeneralExplanation/Identifier0CHANGES IN NET ASSETS OR FUND BALANCES:
IRS990ScheduleO/GeneralExplanation/ReturnReference0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/GeneralExplanation/ReturnReference1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/GeneralExplanation/ReturnReference2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/GeneralExplanation/ReturnReference3FORM 990, PART VI, SECTION C, LINE 19
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