TY 2014 Form 990

- TIN:

Form990

Department of the Treasury
Internal Revenue Service

Return of Organization Exempt From Income Tax

Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private
foundations)

Do not enter social security numbers on this form as it may be made public.

Information about Form 990 and its instructions is at www.IRS.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

A For the 2014 calendar year, or tax year beginning 01-01-2014 , and ending 12-31-2014

BCheck if applicable: Address change Name change Initial return Final return/terminated Amended return Application pending

CName of organization
UNIVERSITY OF WISCONSIN FOUNDATION

Doing business as

Number and street (or P.O. box if mail is not delivered to street address)
1848 University Avenue

Room/suite

City or town, state or province, country, and ZIP or foreign postal code
Madison, WI537264090

D Employer identification number

39-0743975

E Telephone number

G Gross receipts $ 1,454,104,504

F Name and address of principal officer:
MICHAEL M KNETTER PRES CEO
1848 University Avenue
Madison,WI537264090

Tax-exempt status: 501(c)(3) 501(c) ( ) LeftBullet

(insert no.) 4947(a)(1) or 527

Website:

WWW.SUPPORTUW.ORG

H(a)

Is this a group return for
subordinates? Yes No

H(b)

Are all subordinates
included?

Yes No

If "No," attach a list. (see instructions)

H(c)

Group exemption number MediumBullet

K Form of organization: Corporation Trust Association Other MediumBullet

L Year of formation: 1945

M State of legal domicile: WI

Part I

Summary

1	Briefly describe the organization’s mission or most significant activities: UNIVERSITY OF WISCONSIN FOUNDATION AIDS UW - MADISON BY SOLICITING GIFTS & BEQUESTS, ADMINISTERS & INVESTS SECURITIES & PROPERTY,& DISTRIBUTES PAYMENTS FOR BENEFIT OF UW-MADISON
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	43
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	40
5	Total number of individuals employed in calendar year 2014 (Part V, line 2a) ......	5	449
6	Total number of volunteers (estimate if necessary) .............	6	56
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	1,175,137
b	Net unrelated business taxable income from Form 990-T, line 34 .........	7b

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	266,773,753	388,508,377
9	Program service revenue (Part VIII, line 2g) .........	0	1,972,234
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	109,716,040	153,860,401
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	657,196	585,530
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)...................	377,146,989	544,926,542
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	236,845,858	246,727,971
14	Benefits paid to or for members (Part IX, column (A), line 4).....	0	0
15	Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)	16,980,109	20,031,373
16a	Professional fundraising fees (Part IX, column (A), line 11e).....	0	0
b	Total fundraising expenses (Part IX, column (D), line 25) 18,818,436
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	22,059,710	27,759,069
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	275,885,677	294,518,413
19	Revenue less expenses. Subtract line 18 from line 12.......	101,261,312	250,408,129
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	3,100,909,316	3,283,644,772
21	Total liabilities (Part X, line 26).............	388,863,359	374,482,676
22	Net assets or fund balances. Subtract line 21 from line 20.....	2,712,045,957	2,909,162,096

Part II

Signature Block

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.

Sign Here

	Signature of officer	Date

	Type or print name and title

Paid Preparer Use Only

Print/Type preparer's name

Preparer's signature

Date

Check if
self-employed

PTIN

Firm's name MediumBullet

Firm's EIN MediumBullet

Firm's address MediumBullet

Phone no.

May the IRS discuss this return with the preparer shown above? (see instructions) ..........YesNo

For Paperwork Reduction Act Notice, see the separate instructions.

Cat. No. 11282Y Form 990 (2014)

Form 990 (2014)

Page 2

Part III

Statement of Program Service Accomplishments

Check if Schedule O contains a response or note to any line in this Part III ..............

Briefly describe the organization’s mission: THE UNIVERSITY OF WISCONSIN FOUNDATION IS THE OFFICIAL NOT-FOR-PROFIT FUND RAISING CORPORATION FOR THE UNIVERSITY OF WISCONSIN MADISON (UW-MADISON). IT RECEIVES GIFTS AND BEQUESTS, ADMINISTERS AND INVESTS SECURITIES AND PROPERTY, AND DISBURSES PAYMENTS TO AND ON BEHALF OF UW-MADISON FOR ADVANCEMENT OF SCIENTIFIC, LITERARY, EDUCATIONAL, AND ATHLETIC PURPOSES. IN ADDITION, THE UNIVERSITY OF WISCONSIN FOUNDATION RECEIVES GIFTS AND BEQUESTS, ADMINISTERS AND INVESTS SECURITIES AND PROPERTY AND DISBURSES PAYMENTS TO AND ON THE BEHALF OF SEVERAL OTHER UNITS OF THE UNIVERSITY OF WISCONSIN SYSTEM FOR ADVANCEMENT OF SCIENTIFIC, LITERARY AND EDUCATIONAL PURPOSES.

Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? ...................... Yes No

If "Yes," describe these new services on Schedule O.

Did the organization cease conducting, or make significant changes in how it conducts, any program services? ............................ Yes No

If "Yes," describe these changes on Schedule O.

Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.


4a	(Code: ) (Expenses $ 246,727,971 including grants of $ 246,727,971 ) (Revenue $ )
	IN ACCORDANCE WITH THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE, THE UNIVERSITY OF WISCONSIN FOUNDATION ASSISTS BY MAKING PAYMENTS TO OR ON BEHALF OF THE UNIVERSITY OF WISCONSIN.

4b	(Code: ) (Expenses $ including grants of $ ) (Revenue $ 1,873,649 )
	Membership Services: Providing programs, activities, alumni learning, alumni clubs and chapters, as well as awards and recognition for approximately 40,000 members. These programs promote the University of Wisconsin.

4c	(Code: ) (Expenses $ including grants of $ ) (Revenue $ 83,485 )
	Publications: "On Wisconsin" is a quarterly publication and serves as the official University of Wisconsin Alumni magazine. "Badger Insider" is a members only publication serving as the members forum. "Forward Under 40" is the Alumni Association's newest awards program; this publication recognizes prominent University of Wisconsin alumni under the age of 40 living the Wisconsin idea.

4d	Other program services (Describe in Schedule O.)
	(Expenses $ including grants of $ ) (Revenue $ )
4e	Total program service expenses246,727,971

Form 990 (2014)

Page 3

Part IV

Checklist of Required Schedules

Yes

Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes," complete Schedule A Click to see attachment

........................

Yes

Is the organization required to complete Schedule B, Schedule of Contributors (see instructions)? Click to see attachment

...

Yes

Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If "Yes," complete Schedule C, Part I..........

Section 501(c)(3) organizations. Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part II........

Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19? If "Yes," complete Schedule C,
Part III............................

Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If "Yes," complete Schedule D, Part I Click to see attachment

........................

Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas, or historic structures? If "Yes," complete Schedule D, Part II Click to see attachment

...

Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes," complete Schedule D, Part III Click to see attachment

....................

Did the organization report an amount in Part X, line 21 for escrow or custodial account liability; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If "Yes," complete Schedule D, Part IV Click to see attachment

..............

Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments? If "Yes," complete Schedule D, Part V Click to see attachment

......

Yes

If the organization’s answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX, or X as applicable.

Did the organization report an amount for land, buildings, and equipment in Part X, line 10?
If "Yes," complete Schedule D, Part VI. Click to see attachment

...................

11a

Yes

Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VII Click to see attachment

.......

11b

Yes

Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIII Click to see attachment

.......

11c

Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part IX Click to see attachment

............

11d

Did the organization report an amount for other liabilities in Part X, line 25? If "Yes," complete Schedule D, Part X Click to see attachment

11e

Yes

Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If "Yes," complete Schedule D, Part X Click to see attachment

.........................

11f

Yes

12a

Did the organization obtain separate, independent audited financial statements for the tax year?
If "Yes," complete Schedule D, Parts XI and XII Click to see attachment

.................

12a

Was the organization included in consolidated, independent audited financial statements for the tax year? If "Yes," and if the organization answered "No" to line 12a, then completing Schedule D, Parts XI and XII is optional Click to see attachment

12b

Yes

Is the organization a school described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule E....

14a

Did the organization maintain an office, employees, or agents outside of the United States?.....

14a

Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," complete Schedule F, Parts I and IV......... Click to see attachment

14b

Yes

Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization? If “Yes,” complete Schedule F, Parts II and IV Click to see attachment

Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals? If “Yes,” complete Schedule F, Parts III and IV... Click to see attachment

Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If "Yes," complete Schedule G, Part I (see instructions) .... Click to see attachment

Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If "Yes," complete Schedule G, Part II............ Click to see attachment

Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If "Yes," complete Schedule G, Part III................... Click to see attachment

Yes

20a

Did the organization operate one or more hospital facilities? If "Yes," complete Schedule H....

20a

If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return?

20b

Form 990 (2014)

Page 4

Part IV

Checklist of Required Schedules (continued)

Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II.. Click to see attachment

Yes

Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III........ Click to see attachment

Did the organization answer "Yes" to Part VII, Section A, line 3, 4, or 5 about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If "Yes," complete Schedule J....................... Click to see attachment

Yes

24a

Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer lines 24b through 24d and complete Schedule K. If “No,” go to line 25a................

24a

Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...

24b

Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds?......................

24c

Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year?...

24d

25a

Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If "Yes," complete Schedule L, Part I.... Click to see attachment

25a

Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If "Yes," complete Schedule L, Part I................... Click to see attachment

25b

Did the organization report any amount on Part X, line 5, 6, or 22 for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons? If "Yes," complete Schedule L, Part II................ Click to see attachment

Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons? If "Yes," complete Schedule L, Part III......... Click to see attachment

Was the organization a party to a business transaction with one of the following parties (see Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):

A current or former officer, director, trustee, or key employee? If "Yes," complete Schedule L, Part IV .......................... Click to see attachment

28a

A family member of a current or former officer, director, trustee, or key employee? If "Yes,"
complete Schedule L, Part IV..................... Click to see attachment

28b

An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner? If "Yes," complete Schedule L, Part IV... Click to see attachment

28c

Yes

Did the organization receive more than $25,000 in non-cash contributions? If "Yes," complete Schedule M.. Click to see attachment

Yes

Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If "Yes," complete Schedule M............. Click to see attachment

Yes

Did the organization liquidate, terminate, or dissolve and cease operations? If "Yes," complete Schedule N,
Part I...........................

Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If "Yes," complete Schedule N, Part II......................

Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If "Yes," complete Schedule R, Part I........ Click to see attachment

Was the organization related to any tax-exempt or taxable entity? If "Yes," complete Schedule R, Part II, III, or IV, and Part V, line 1........................ Click to see attachment

Yes

35a

Did the organization have a controlled entity within the meaning of section 512(b)(13)?

35a

Yes

If ‘Yes’ to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If "Yes," complete Schedule R, Part V, line 2... Click to see attachment

35b

Yes

Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If "Yes," complete Schedule R, Part V, line 2............. Click to see attachment

Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If "Yes," complete Schedule R, Part VI Click to see attachment

Did the organization complete Schedule O and provide explanations in Schedule O for Part VI, lines 11b and 19? Note. All Form 990 filers are required to complete Schedule O. ............

Yes

Form 990 (2014)

Page 5

Part V

Statements Regarding Other IRS Filings and Tax Compliance

Check if Schedule O contains a response or note to any line in this Part V ..............

Yes

Enter the number reported in Box 3 of Form 1096 Enter -0- if not applicable ..

282

Enter the number of Forms W-2G included in line 1a. Enter -0- if not applicable .

Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................

Yes

Enter the number of employees reported on Form W-3, Transmittal of Wage and
Tax Statements, filed for the calendar year ending with or within the year covered by this return ..................

449

If at least one is reported on line 2a, did the organization file all required federal employment tax returns?
Note. If the sum of lines 1a and 2a is greater than 250, you may be required to e-file (see instructions)

Yes

Did the organization have unrelated business gross income of $1,000 or more during the year?...

Yes

If “Yes,” has it filed a Form 990-T for this year? If “No” to line 3b, provide an explanation in Schedule O...

Yes

At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?..........................

If "Yes," enter the name of the foreign country: MediumBullet

See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).

Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?..

Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?

If "Yes," to line 5a or 5b, did the organization file Form 8886-T? ............

Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?...

If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?........................

Organizations that may receive deductible contributions under section 170(c).

Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?....................

Yes

If "Yes," did the organization notify the donor of the value of the goods or services provided?.....

Yes

Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?...........................

If "Yes," indicate the number of Forms 8282 filed during the year ....

Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?............................

Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?..

If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?............................

If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?..........................

Sponsoring organizations maintaining donor advised funds.
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?.........................

Did the sponsoring organization make any taxable distributions under section 4966?...

Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?...

Section 501(c)(7) organizations. Enter:

Initiation fees and capital contributions included on Part VIII, line 12 ...

10a

Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities

10b

Section 501(c)(12) organizations. Enter:

Gross income from members or shareholders .........

11a

Gross income from other sources (Do not net amounts due or paid to other sources against amounts due or received from them.) ..........

11b

12a

Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?

12a

If "Yes," enter the amount of tax-exempt interest received or accrued during the year. ....................

12b

Section 501(c)(29) qualified nonprofit health insurance issuers.

Is the organization licensed to issue qualified health plans in more than one state?
Note. See the instructions for additional information the organization must report on Schedule O.

13a

Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans ....

13b

Enter the amount of reserves on hand ............

13c

14a

Did the organization receive any payments for indoor tanning services during the tax year?.....

14a

If "Yes," has it filed a Form 720 to report these payments? If "No," provide an explanation in Schedule O..

14b

Form 990 (2014)

Page 6

Part VI

Governance, Management, and Disclosure For each "Yes" response to lines 2 through 7b below, and for a "No" response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.

Check if Schedule O contains a response or note to any line in this Part VI ..............

Section A. Governing Body and Management

Yes

Enter the number of voting members of the governing body at the end of the tax year .....................

If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.

Enter the number of voting members included in line 1a, above, who are independent ...................

Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................

Yes

Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? .

Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? ...........................

Did the organization become aware during the year of a significant diversion of the organization’s assets? .

Did the organization have members or stockholders? ................

Yes

Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? ....................

Yes

Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ...................

Yes

Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:

The governing body? .........................

Yes

Each committee with authority to act on behalf of the governing body? ............

Yes

Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If "Yes," provide the names and addresses in Schedule O.......

Section B. Policies (This Section B requests information about policies not required by the Internal Revenue Code.)

Yes

10a

Did the organization have local chapters, branches, or affiliates? ............

10a

If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes?

10b

11a

Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form? ............................

11a

Yes

Describe in Schedule O the process, if any, used by the organization to review this Form 990. .....

12a

Did the organization have a written conflict of interest policy? If "No," go to line 13.......

12a

Yes

Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ..........................

12b

Yes

Did the organization regularly and consistently monitor and enforce compliance with the policy? If "Yes," describe in Schedule O how this was done.......................

12c

Yes

Did the organization have a written whistleblower policy? ...............

Yes

Did the organization have a written document retention and destruction policy? .........

Yes

Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?

The organization’s CEO, Executive Director, or top management official ...........

15a

Yes

Other officers or key employees of the organization ................

15b

Yes

If "Yes" to line 15a or 15b, describe the process in Schedule O (see instructions).

16a

Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................

16a

If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............

16b

Section C. Disclosure

List the States with which a copy of this Form 990 is required to be filed MediumBullet

AK , AZ , AR , CA , CO , DC , HI , KY , ME , MD , MA , MI , MN , NH , NJ , NY , OH , OK , OR , SC , UT , WA , WV , WI

Section 6104 requires an organization to make its Form 1023 (or 1024 if applicable), 990, and 990-T (501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply.

Own website Another's website Upon request Other (explain in Schedule O)

Describe in Schedule O whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.

State the name, address, and telephone number of the person who possesses the organization's books and records:
MediumBullet

BRIDGET A BUSH
1848 UNIVERSITY AVENUE
MADISON,WI53726 (608) 308-5469

Form 990 (2014)

Page 7

Part VII

Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors

Check if Schedule O contains a response or note to any line in this Part VII ..............

Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees

1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet

List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

List all of the organization’s current key employees, if any. See instructions for definition of "key employee."

List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the
organization and any related organizations.

List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

List persons in the following order: individual trustees or directors; institutional trustees; officers; key employees; highest
compensated employees; and former such persons.

Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee.

(A) Name and Title	(B) Average hours per week (list any hours for related organizations below dotted line)	(C) Position (do not check more than one box, unless person is both an officer and a director/trustee)		(D) Reportable compensation from the organization (W- 2/1099-MISC)	(E) Reportable compensation from related organizations (W- 2/1099-MISC)	(F) Estimated amount of other compensation from the organization and related organizations
(A) Name and Title
(1) Richard L Antoine........................................................................ ex officio -TERM IS Continuous	4.0 .......................0.0	X		0	0	0
(2) Nancy L Ballsrud........................................................................ Director - term exp 6/2017	1.5 .......................0.0	X		0	0	0
(3) John D Baumann........................................................................ Director - term exp 6/2017	2.0 .......................0.0	X		0	0	0
(4) Susan J Cellmer........................................................................ Director - TERM EXP 6/2015	1.0 .......................0.0	X		0	0	0
(5) Jerome A Chazen........................................................................ Director - Term EXP 6/2014	5.0 .......................0.0	X		0	0	0
(6) Paul J Collins........................................................................ Ex Officio -TERM IS Continuous	1.0 .......................0.0	X		0	0	0
(7) Connie R Curran........................................................................ Director - THRU 11/2014	1.0 .......................0.0	X		0	0	0
(8) Jeffrey J Diermeier........................................................................ Director - TERM EXP 6/2014	1.0 .......................0.0	X		0	0	0
(9) Susan S Engeleiter........................................................................ Director - TERM EXP 6/2015	1.0 .......................0.0	X		0	0	0
(10) Thomas J Falk........................................................................ Chair - TERM EXP 6/2015	1.0 .......................0.0	X	X	0	0	0
(11) Wade Fetzer III........................................................................ Ex Officio -TERM IS Continuous	1.0 .......................0.0	X		0	0	0
(12) David F Florin........................................................................ Director - term exp 6/2017	1.0 .......................0.0	X		0	0	0
(13) Jere D Fluno........................................................................ Ex Officio -TERM IS Continuous	1.0 .......................0.0	X		0	0	0
(14) W Jerome Frautschi........................................................................ Director - THRU 6/2014	0.5 .......................0.0	X		0	0	0
(15) Peter L Frechette........................................................................ Director - TERM EXP 6/2015	1.0 .......................0.0	X		0	0	0
(16) Curtis J Fuszard........................................................................ Director - term exp 6/2017	0.5 .......................0.0	X		0	0	0
(17) Colleen A Goggins........................................................................ Director - TERM EXP 6/2017	1.0 .......................0.0	X		0	0	0

Form 990 (2014)

Page 8

Part VII

Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)

(A) Name and Title	(B) Average hours per week (list any hours for related organizations below dotted line)	(C) Position (do not check more than one box, unless person is both an officer and a director/trustee)			(D) Reportable compensation from the organization (W- 2/1099-MISC)	(E) Reportable compensation from related organizations (W- 2/1099-MISC)	(F) Estimated amount of other compensation from the organization and related organizations
(A) Name and Title
(18) George F Hamel Jr........................................................................ Director - TERM EXP 6/2014	1.0 .......................0.0	X			0	0	0
(19) Jeffrey C Hammes........................................................................ Director - TERM EXP 6/2017	0.5 .......................0.0	X			0	0	0
(20) Jon D Hammes........................................................................ Director - TERM EXP 6/2015	0.5 .......................0.0	X			0	0	0
(21) Jill S Hatton........................................................................ Director - TERM EXP 6/2016	1.0 .......................0.0	X			0	0	0
(22) John P Holton........................................................................ Director - TERM EXP 6/2016	1.5 .......................0.0	X			0	0	0
(23) William P Hsu........................................................................ Director - term exp 6/2017	2.5 .......................0.0	X			0	0	0
(24) Dong-Soo Hur........................................................................ Director - TERM EXP 6/2016	0.5 .......................0.0	X			0	0	0
(25) Judy H Jorgensen........................................................................ Director - THRU 6/2014	1.0 .......................0.0	X			0	0	0
(26) Ted D Kellner........................................................................ Ex Officio -TERM IS Continuous	0.5 .......................0.0	X			0	0	0
(27) Peter S Kies........................................................................ Director - term exp 6/2017	1.0 .......................0.0	X			0	0	0
(28) Christopher Kozina........................................................................ Director - term exp 6/2017	1.0 .......................0.0	X			0	0	0
(29) Paul A Leff........................................................................ Director - TERM EXP 6/2015	1.0 .......................0.0	X			0	0	0
(30) Michael E Lehman........................................................................ Director - TERM EXP 6/2014	2.5 .......................0.0	X			0	0	0
(31) Peter A Leidel........................................................................ Director - TERM EXP 6/2016	1.0 .......................0.0	X			0	0	0
(32) Thomas P Madsen........................................................................ Director - TERM EXP 6/2016	2.0 .......................0.0	X			0	0	0
(33) Jane R Mandula........................................................................ Director - TERM EXP 6/2016	1.0 .......................0.0	X			0	0	0
(34) Karen A Monfre........................................................................ Director - term exp 6/2017	1.0 .......................0.0	X			0	0	0
(35) Alice D Mortenson........................................................................ Director - TERM EXP 6/2016	1.0 .......................0.0	X			0	0	0
(36) Melinda J Mount........................................................................ Director - TERM EXP 6/2014	2.0 .......................0.0	X			0	0	0
(37) John S Nelson........................................................................ Director - TERM EXP 6/2016	2.0 .......................0.0	X			0	0	0
(38) Cory Nettles........................................................................ Director - TERM EXP 6/2015	1.0 .......................0.0	X			0	0	0
(39) Albert O Nicholas........................................................................ Director - TERM EXP 6/2014	0.5 .......................0.0	X			0	0	0
(40) John J Oros........................................................................ Ex Officio -TERM IS Continuous	1.0 .......................0.0	X			0	0	0
(41) San Watterson Orr Jr........................................................................ Ex Officio - THRU 9/2014	1.0 .......................0.0	X			0	0	0
(42) Stephen R Petersen........................................................................ Director - TERM EXP 6/2015	4.0 .......................0.0	X			0	0	0
(43) Linda L Procci........................................................................ Director - TERM EXP 6/2015	1.5 .......................0.0	X			0	0	0
(44) Dr Frederick A Robertson........................................................................ Director - TERM EXP 6/2014	3.0 .......................0.0	X			0	0	0
(45) Ricky C Sandler........................................................................ Director - TERM EXP 6/2014	2.0 .......................0.0	X			0	0	0
(46) Jay R Sekelsky........................................................................ Director - TERM EXP 6/2014	1.0 .......................0.0	X			0	0	0
(47) Allan H Selig........................................................................ Director - TERM EXP 6/2014	0.25 .......................0.0	X			0	0	0
(48) Paul S Shain........................................................................ Director - TERM EXP 6/2017	1.0 .......................0.0	X			0	0	0
(49) Michael S Shannon........................................................................ Director - TERM EXP 6/2017	4.0 .......................0.0	X			0	0	0
(50) Michael R Splinter........................................................................ Director - TERM EXP 6/2015	1.0 .......................0.0	X			0	0	0
(51) Stephanie L Swartz........................................................................ Director - term exp 6/2017	1.0 .......................0.0	X			0	0	0
(52) Frances S Taylor........................................................................ Ex Officio -TERM IS Continuous	1.0 .......................0.0	X			0	0	0
(53) Patrick A Thiele........................................................................ Director - TERM EXP 6/2016	1.0 .......................0.0	X			0	0	0
(54) Todd E Warnock........................................................................ Director - TERM EXP 6/2014	1.0 .......................0.0	X			0	0	0
(55) Doris F Weisberg........................................................................ Director - TERM EXP 6/2016	1.0 .......................0.0	X			0	0	0
(56) Jeffrey D Wiesner........................................................................ vice chair - TERM EXP 6/2016	4.0 .......................0.0	X	X		0	0	0
(57) Michael M Knetter........................................................................ PRESIDENT AND CEO	60.0 .......................1.0	X	X		568,608	0	109,574
(58) Paula E Bonner........................................................................ ex officio/chief alumni office	60.0 .......................0.0	X	X		117,633	0	19,646
(59) Julie Van Cleave........................................................................ Chief Investment Officer	50.0 .......................0.0		X		601,410	0	11,498
(60) Thomas P Olson........................................................................ Chief Investment Officer	50.0 .......................0.0		X		474,015	0	45,574
(61) Steven L Hudson........................................................................ Chief Financial Officer	45.0 .......................0.0		X		225,727	0	42,524
(62) Kari Myrland........................................................................ Chief Information Officer	45.0 .......................0.0		X		208,008	0	26,286
(63) Alisa A Robertson........................................................................ Assistant Treasurer	45.0 .......................1.0		X		206,301	0	18,995
(64) Russell N Howes........................................................................ Assistant secretary	45.0 .......................1.0		X		184,215	0	31,321
(65) Geoffrey M McCloskey........................................................................ Controller	65.0 .......................0.0		X		134,038	0	32,269
(66) Catherine M Ahrens........................................................................ Secretary	45.0 .......................0.0		X		99,719	0	29,456
(67) Bridget A Bush........................................................................ Treasurer	45.0 .......................1.0		X		84,259	0	9,825
(68) Mary M DeNiro........................................................................ chief engagement officer	45.0 .......................0.0		X		87,997	0	16,091
(69) John Dobson........................................................................ Managing Sr Dir - Term 5/2014	45.0 .......................0.0			X	280,952	0	15,990
(70) Marion Brown........................................................................ Vice President of Development	45.0 .......................0.0			X	166,857	0	18,579
(71) James Kennedy........................................................................ Chief Marketing Officer	45.0 .......................0.0			X	164,533	0	17,874
(72) Jodi Patek........................................................................ Chief of Staff	45.0 .......................0.0			X	156,470	0	27,955
(73) Anne Lucke........................................................................ VP & Managing Group Leader	45.0 .......................0.0			X	149,142	0	22,102

1b	Sub-Total................
c	Total from continuation sheets to Part VII, Section A....
d	Total (add lines 1b and 1c)............	3,909,884	0	495,559

Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organization MediumBullet

Yes

Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If "Yes," complete Schedule J for such individual ..............

For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If "Yes," complete Schedule J for such individual...........................

Yes

Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If "Yes," complete Schedule J for such person ........

Section B. Independent Contractors

Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization’s tax year.

(A) Name and business address	(B) Description of services	(C) Compensation
Morgan Stanley, 1585 Broadway NEW YORK,NY10036	alt investmt advisor	1,068,285
US Bank NA, PO Box 7900 MADISON,WI53707	invsmt adv/custodian	831,971
Robert W Baird Co Inc, 777 e wisconsin avenue suite 2700 MILWAUKEE,WI53202	invsmt adv/custodian	676,000
Yorktown Partners LLC, 410 park avenue 19th flr NEW YORK,NY10022	alt investmt advisor	611,195
Fortress Investments, 1345 avenue of the americas 23rd NEW YORK,NY10105	alt investmt advisor	557,300
2 Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 53

Form 990 (2014)

Page 9

Part VIII

Statement of Revenue

Check if Schedule O contains a response or note to any line in this Part VIII .............

				(A) Total revenue	(B) Related or exempt function revenue	(C) Unrelated business revenue	(D) Revenue excluded from tax under sections 512-514
1a	Federated campaigns..1a
b	Membership dues....1b
c	Fundraising events....1c
d	Related organizations...1d		10,595
e	Government grants (contributions)1e

f	All other contributions, gifts, grants, and similar amounts not included above1f		388,497,782

g	Noncash contributions included in lines 1a-1f:$		124,977,045
h	Total. Add lines 1a-1f.......			388,508,377
			Business Code
2a	MEMBERSHIP REVENUE		541900	1,050,437	1,050,437
b	REGISTRATION		900099	693,060	693,060
c	PUBLICATIONS		541800	83,485		83,485
d	SPONSORSHIP INCOME		900099	104,744	104,744
e	ATHLETIC TRAVEL INCOME		900099	25,408	25,408
f	All other program service revenue .			15,100			15,100
g	Total. Add lines 2a–2f........			1,972,234
3	Investment income (including dividends, interest, and other similar amounts).......			38,133,487		-2,348,345	40,481,832
4	Income from investment of tax-exempt bond proceeds..			0
5	Royalties...........			500,084			500,084
		(i) Real	(ii) Personal
6a	Gross rents	67,892
b	Less: rental expenses
c	Rental income or (loss)	67,892	0
d	Net rental income or (loss).......			67,892			67,892
		(i) Securities	(ii) Other
7a	Gross amount from sales of assets other than inventory	1,024,761,548	121,943
b	Less: cost or other basis and sales expenses	909,052,070	104,507
c	Gain or (loss)	115,709,478	17,436
d	Net gain or (loss)..........			115,726,914		3,439,997	112,286,917
8a	Gross income from fundraising events (not including $ of contributions reported on line 1c). See Part IV, line 18 ..
	a
b	Less: direct expenses ...b
c	Net income or (loss) from fundraising events..			0
9a	Gross income from gaming activities. See Part IV, line 19 ...
	a		38,939
b	Less: direct expenses ...b		21,385
c	Net income or (loss) from gaming activities...			17,554			17,554
10a	Gross sales of inventory, less returns and allowances .
	a
b	Less: cost of goods sold ..b
c	Net income or (loss) from sales of inventory..			0
Miscellaneous Revenue			Business Code
11a
b
c
d	All other revenue ....
e	Total. Add lines 11a–11d ......			0
12	Total revenue. See Instructions......			544,926,542	1,873,649	1,175,137	153,369,379

Form 990 (2014)

Page 10

Part IX

Statement of Functional Expenses

Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A).Check if Schedule O contains a response or note to any line in this Part IX ...............

Do not include amounts reported on lines 6b, 7b, 8b, 9b, and 10b of Part VIII.		(A) Total expenses	(B) Program service expenses	(C) Management and general expenses	(D) Fundraising expenses
1	Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 ....	246,727,971	246,727,971
2	Grants and other assistance to domestic individuals. See Part IV, line 22 ....	0
3	Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16 ............	0
4	Benefits paid to or for members ....	0
5	Compensation of current officers, directors, trustees, and key employees ....	3,426,210		2,544,069	882,141
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ....	0
7	Other salaries and wages ....	12,468,437		3,653,834	8,814,603
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....	1,297,662		506,006	791,656
9	Other employee benefits .......	1,713,989		668,347	1,045,642
10	Payroll taxes ...........	1,125,075		438,708	686,367
11	Fees for services (non-employees):
a	Management ......	0
b	Legal .........	241,257		92,765	148,492
c	Accounting ...........	199,682		196,926	2,756
d	Lobbying ...........	0
e	Professional fundraising services. See Part IV, line 17	0
f	Investment management fees ......	12,131,644		12,131,644
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) ....	2,676,680		2,087,063	589,617
12	Advertising and promotion ....	1,544,275			1,544,275
13	Office expenses .......	1,274,991		491,424	783,567
14	Information technology ......	1,667,714		825,413	842,301
15	Royalties ..	0
16	Occupancy ...........	1,152,789		693,649	459,140
17	Travel ............	581,637		273,107	308,530
18	Payments of travel or entertainment expenses for any federal, state, or local public officials ......	0
19	Conferences, conventions, and meetings ....	388,540		151,266	237,274
20	Interest ...........	141,073		141,073
21	Payments to affiliates .......	0
22	Depreciation, depletion, and amortization .....	1,140,134		444,580	695,554
23	Insurance ..............	0
24	Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a	BAD DEBT EXPENSE	2,681,929		2,681,929
b	INCOME TAX LIABILITY	662,340		662,340
c	ALUMNI EVENT	601,588			601,588
d	RECOG / SPECIAL EVENTS	255,774		14,787	240,987
e	All other expenses	417,022		273,076	143,946
25	Total functional expenses. Add lines 1 through 24e	294,518,413	246,727,971	28,972,006	18,818,436
26	Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).

Form 990 (2014)

Page 11


				(A) Beginning of year		(B) End of year
1	Cash–non-interest-bearing .............			0	1	400
2	Savings and temporary cash investments .........			173,956,974	2	956,664,822
3	Pledges and grants receivable, net ...........			63,667,411	3	67,049,969
4	Accounts receivable, net .............			14,447,265	4	12,096,158
5	Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of Schedule L ..................
				0	5	0
6	Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations (see instructions) Complete Part II of Schedule L
				0	6	0
7	Notes and loans receivable, net .............			1,327,613	7	1,169,804
8	Inventories for sale or use ..............			0	8	0
9	Prepaid expenses and deferred charges ..........			974,503	9	1,554,015
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	25,959,492
b	Less: accumulated depreciation .....	10b	8,522,364	12,642,559	10c	17,437,128
11	Investments—publicly traded securities ..........			2,261,641,866	11	1,686,812,403
12	Investments—other securities. See Part IV, line 11 .....			556,748,424	12	525,933,965
13	Investments—program-related. See Part IV, line 11 .....			0	13	0
14	Intangible assets ...............			0	14	0
15	Other assets. See Part IV, line 11 ...........			15,502,701	15	14,926,108
16	Total assets. Add lines 1 through 15 (must equal line 34)......			3,100,909,316	16	3,283,644,772
17	Accounts payable and accrued expenses .........			30,661,279	17	8,291,378
18	Grants payable .................			0	18	0
19	Deferred revenue ................			0	19	888,453
20	Tax-exempt bond liabilities .............			0	20	0
21	Escrow or custodial account liability. Complete Part IV of Schedule D..			0	21	0
22	Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified
	persons. Complete Part II of Schedule L..........			0	22	0
23	Secured mortgages and notes payable to unrelated third parties ..			532,731	23	0
24	Unsecured notes and loans payable to unrelated third parties ....			0	24	0
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D....................			357,669,349	25	365,302,845
26	Total liabilities. Add lines 17 through 25.........			388,863,359	26	374,482,676
	Organizations that follow SFAS 117 (ASC 958), check here and complete lines 27 through 29, and lines 33 and 34.
27	Unrestricted net assets ..............			190,759,824	27	234,888,696
28	Temporarily restricted net assets ...........			1,324,837,275	28	1,408,238,674
29	Permanently restricted net assets ...........			1,196,448,858	29	1,266,034,726
	Organizations that do not follow SFAS 117 (ASC 958), check here and complete lines 30 through 34.
30	Capital stock or trust principal, or current funds ........				30
31	Paid-in or capital surplus, or land, building or equipment fund .....				31
32	Retained earnings, endowment, accumulated income, or other funds				32
33	Total net assets or fund balances ...........			2,712,045,957	33	2,909,162,096
34	Total liabilities and net assets/fund balances ........			3,100,909,316	34	3,283,644,772

Form 990 (2014)

Page 12

Part XI

Reconcilliation of Net Assets

Check if Schedule O contains a response or note to any line in this Part XI ..............

Total revenue (must equal Part VIII, column (A), line 12) ............

544,926,542

Total expenses (must equal Part IX, column (A), line 25) ............

294,518,413

Revenue less expenses. Subtract line 2 from line 1 ..............

250,408,129

Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) ..

2,712,045,957

Net unrealized gains (losses) on investments ...............

-53,291,990

Donated services and use of facilities .................

Investment expenses .....................

Prior period adjustments .....................

Other changes in net assets or fund balances (explain in Schedule O) ........

Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 33, column (B))

2,909,162,096

Part XII

Financial Statements and Reporting

Check if Schedule O contains a response or note to any line in this Part XII .............

Yes

Accounting method used to prepare the Form 990: Cash Accrual Other
If the organization changed its method of accounting from a prior year or checked "Other," explain in
Schedule O.

Were the organization’s financial statements compiled or reviewed by an independent accountant?

If ‘Yes,’ check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both:

Separate basis Consolidated basis Both consolidated and separate basis

Were the organization’s financial statements audited by an independent accountant?

Yes

If ‘Yes,’ check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both:

Separate basis Consolidated basis Both consolidated and separate basis

If "Yes," to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?

Yes

If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.

As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133? .................

If "Yes," did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits.

Form 990 (2014)

Page 13

Form 990, Special Condition Description:

Special Condition Description

Form 990 (2014)

Page 14

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE A
(Form 990 or 990EZ)

Department of the Treasury
Internal Revenue Service

Public Charity Status and Public Support

Complete if the organization is a section 501(c)(3) organization or a section 4947(a)(1) nonexempt charitable trust.
right arrow

Attach to Form 990 or Form 990-EZ.
right arrow

Information about Schedule A (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public
Inspection

Name of the organization

UNIVERSITY OF WISCONSIN FOUNDATION

Employer identification number

39-0743975

Part I

Reason for Public Charity Status (All organizations must complete this part.) See instructions.

The organization is not a private foundation because it is: (For lines 1 through 11, check only one box.)

A church, convention of churches, or association of churches described in section 170(b)(1)(A)(i).

A school described in section 170(b)(1)(A)(ii). (Attach Schedule E.)

A hospital or a cooperative hospital service organization described in section 170(b)(1)(A)(iii).

A medical research organization operated in conjunction with a hospital described in section 170(b)(1)(A)(iii). Enter the hospital's name, city, and state:

An organization operated for the benefit of a college or university owned or operated by a governmental unit described in

section 170(b)(1)(A)(iv). (Complete Part II.)

A federal, state, or local government or governmental unit described in section 170(b)(1)(A)(v).

An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi). (Complete Part II.)

A community trust described in section 170(b)(1)(A)(vi). (Complete Part II.)

An organization that normally receives: (1) more than 331/3% of its support from contributions, membership fees, and gross

receipts from activities related to its exempt functions—subject to certain exceptions, and (2) no more than 331/3% of

its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses

acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.)

An organization organized and operated exclusively to test for public safety. See section 509(a)(4).

An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2). See section 509(a)(3). Check the box in lines 11a through 11d that describes the type of supporting organization and complete lines 11e, 11f, and 11g.

Type I. A supporting organization operated, supervised, or controlled by its supported organization(s), typically by giving the supported organization(s) the power to regularly appoint or elect a majority of the directors or trustees of the supporting organization. You must complete Part IV, Sections A and B.

Type II. A supporting organization supervised or controlled in connection with its supported organization(s), by having control or management of the supporting organization vested in the same persons that control or manage the supported organization(s). You must complete Part IV, Sections A and C.

Type III functionally integrated. A supporting organization operated in connection with, and functionally integrated with, its supported organization(s) (see instructions). You must complete Part IV, Sections A, D, and E.

Type III non-functionally integrated. A supporting organization operated in connection with its supported organization(s) that is not functionally integrated. The organization generally must satisfy a distribution requirement and an attentiveness requirement (see instructions). You must complete Part IV, Sections A and D, and Part V.

Check this box if the organization received a written determination from the IRS that it is a Type I, Type II, Type III functionally integrated, or Type III non-functionally integrated supporting organization.

Enter the number of supported organizations .............................

Provide the following information about the supported organization(s).

(i)Name of supported organization	(ii) EIN	(iv) Is the organization listed in your governing document?		(v) Amount of monetary support (see instructions)	(vi) Amount of other support (see instructions)
(i)Name of supported organization	(ii) EIN	Yes	No	(v) Amount of monetary support (see instructions)	(vi) Amount of other support (see instructions)


Total

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990EZ.

Cat. No. 11285F

Schedule A (Form 990 or 990-EZ) 2014

Page 2

Part II

Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization fails to qualify under the tests listed below, please complete Part III.)

Section A. Public Support

Calendar year (or fiscal year beginning in)		(a) 2010	(b) 2011	(c) 2012	(d) 2013	(e) 2014	(f) Total
1	Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") ....	165,667,841	197,541,841	211,242,673	266,773,753	388,508,377	1,229,734,485
2	Tax revenues levied for the organization's benefit and either paid to or expended on its behalf.......						0
3	The value of services or facilities furnished by a governmental unit to the organization without charge..						0
4	Total. Add lines 1 through 3	165,667,841	197,541,841	211,242,673	266,773,753	388,508,377	1,229,734,485
5	The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f)..						311,464,705
6	Public support. Subtract line 5 from line 4.						918,269,780

Section B. Total Support

Calendar year (or fiscal year beginning in)		(a) 2010	(b) 2011	(c) 2012	(d) 2013	(e) 2014	(f) Total
7	Amounts from line 4..	165,667,841	197,541,841	211,242,673	266,773,753	388,508,377	1,229,734,485
8	Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources...	17,790,765	24,330,580	28,098,234	33,812,554	41,049,808	145,081,941
9	Net income from unrelated business activities, whether or not the business is regularly carried on..						0
10	Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.)..	0	0	103,805	120,376	38,939	263,120
11	Total support Add lines 7 through 10.						1,375,079,546

Gross receipts from related activities, etc. (see instructions) ..................

1,873,649

First five years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here........................................ right arrow

Section C. Computation of Public Support Percentage

Public support percentage for 2014 (line 6, column (f) divided by line 11, column (f)) .........

66.779 %

Public support percentage for 2013 Schedule A, Part II, line 14 ...............

71.717 %

16a

33 1/3% support test—2014. If the organization did not check the box on line 13, and line 14 is 33 1/3% or more, check this box
and stop here. The organization qualifies as a publicly supported organization ....................... right arrow

33 1/3% support test—2013. If the organization did not check a box on line 13 or 16a, and line 15 is 33 1/3% or more, check this
box and stop here. The organization qualifies as a publicly supported organization ..................... right arrow

17a

10%-facts-and-circumstances test—2014. If the organization did not check a box on line 13, 16a, or 16b, and line 14
is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain
in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported
organization ..................................................... right arrow

10%-facts-and-circumstances test—2013. If the organization did not check a box on line 13, 16a, 16b, or 17a, and line
15 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here.
Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly
supported organization ................................................ right arrow

Private foundation. If the organization did not check a box on line 13, 16a, 16b, 17a, or 17b, check this box and see
instructions ..................................................... right arrow

Schedule A (Form 990 or 990-EZ) 2014

Page 3

Part III

Support Schedule for Organizations Described in Section 509(a)(2)
(Complete only if you checked the box on line 9 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)

Section A. Public Support

Calendar year (or fiscal year beginning in)		(a) 2010	(b) 2011	(c) 2012	(d) 2013	(e) 2014	(f) Total
1	Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .
2	Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose......
3	Gross receipts from activities that are not an unrelated trade or business under section 513..
4	Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...
5	The value of services or facilities furnished by a governmental unit to the organization without charge..
6	Total. Add lines 1 through 5.
7a	Amounts included on lines 1, 2, and 3 received from disqualified persons...
b	Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.
c	Add lines 7a and 7b..
8	Public support (Subtract line 7c from line 6.)

Section B. Total Support

Calendar year (or fiscal year beginning in)		(a) 2010	(b) 2011	(c) 2012	(d) 2013	(e) 2014	(f) Total
9	Amounts from line 6...
10a	Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..
b	Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.
c	Add lines 10a and 10b.
11	Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on.
12	Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) ..
13	Total support. (Add lines 9, 10c, 11, and 12.)..

First five years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization,
check this box and stop here............................................. right arrow

Section C. Computation of Public Support Percentage

Public support percentage for 2014 (line 8, column (f) divided by line 13, column (f)) .........

Public support percentage from 2013 Schedule A, Part III, line 15 ...............

Section D. Computation of Investment Income Percentage

Investment income percentage for 2014 (line 10c, column (f) divided by line 13, column (f)) ......

Investment income percentage from 2013 Schedule A, Part III, line 17 .............

19a

33 1/3% support tests—2014. If the organization did not check the box on line 14, and line 15 is more than 33 1/3%, and line 17 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ....... right arrow

33 1/3% support tests—2013. If the organization did not check a box on line 14 or line 19a, and line 16 is more than 33 1/3% and line 18 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization .... right arrow

Private foundation. If the organization did not check a box on line 14, 19a, or 19b, check this box and see instructions .... right arrow

Schedule A (Form 990 or 990-EZ) 2014

Page 4

Part IV

Supporting Organizations

(Complete only if you checked a box on line 11 of Part I. If you checked 11a of Part I, complete Sections A and B. If you checked 11b of Part I, complete Sections A and C. If you checked 11c of Part I, complete Sections A, D, and E. If you checked 11d of Part I, complete Sections A and D, and complete Part V.)

Section A. All Supporting Organizations

Yes

Are all of the organization’s supported organizations listed by name in the organization’s governing documents?
If "No," describe in Part VI how the supported organizations are designated. If designated by class or purpose,
describe the designation. If historic and continuing relationship, explain.

Did the organization have any supported organization that does not have an IRS determination of status under section 509(a)(1) or (2)? If "Yes," explain in Part VI how the organization determined that the supported organization was described in section 509(a)(1) or (2).

Did the organization have a supported organization described in section 501(c)(4), (5), or (6)? If "Yes," answer (b) and (c) below.

Did the organization confirm that each supported organization qualified under section 501(c)(4), (5), or (6) and satisfied the public support tests under section 509(a)(2)? If "Yes," describe in Part VI when and how the organization made the determination.

Did the organization ensure that all support to such organizations was used exclusively for section 170(c)(2)(B) purposes? If "Yes," explain in Part VI what controls the organization put in place to ensure such use.

Was any supported organization not organized in the United States ("foreign supported organization")? If “Yes” and if you checked 11a or 11b in Part I, answer (b) and (c) below.

Did the organization have ultimate control and discretion in deciding whether to make grants to the foreign supported organization? If “Yes,” describe in Part VI how the organization had such control and discretion despite being controlled or supervised by or in connection with its supported organizations....

Did the organization support any foreign supported organization that does not have an IRS determination under sections 501(c)(3) and 509(a)(1) or (2)? If “Yes,” explain in Part VI what controls the organization used to ensure that all support to the foreign supported organization was used exclusively for section 170(c)(2)(B) purposes.

Did the organization add, substitute, or remove any supported organizations during the tax year? If “Yes,” answer (b) and (c) below (if applicable). Also, provide detail in Part VI, including (i) the names and EIN numbers of the supported organizations added, substituted, or removed, (ii) the reasons for each such action, (iii) the authority under the organization's organizing document authorizing such action, and (iv) how the action was accomplished (such as by amendment to the organizing document).

Type I or Type II only. Was any added or substituted supported organization part of a class already designated in the organization's organizing document?

Substitutions only. Was the substitution the result of an event beyond the organization's control?

Did the organization provide support (whether in the form of grants or the provision of services or facilities) to anyone other than (a) its supported organizations; (b) individuals that are part of the charitable class benefited by one or more of its supported organizations; or (c) other supporting organizations that also support or benefit one or more of the filing organization’s supported organizations? If “Yes,” provide detail in Part VI.

Did the organization provide a grant, loan, compensation, or other similar payment to a substantial contributor (defined in IRC 4958(c)(3)(C)), a family member of a substantial contributor, or a 35-percent controlled entity with regard to a substantial contributor? If “Yes,” complete Part I of Schedule L (Form 990) .

Did the organization make a loan to a disqualified person (as defined in section 4958) not described in line 7? If “Yes,” complete Part II of Schedule L (Form 990).

Was the organization controlled directly or indirectly at any time during the tax year by one or more disqualified persons as defined in section 4946 (other than foundation managers and organizations described in section 509(a)(1) or (2))? If “Yes,” provide detail in Part VI.

Did one or more disqualified persons (as defined in line 9(a)) hold a controlling interest in any entity in which the supporting organization had an interest? If “Yes,” provide detail in Part VI.

Did a disqualified person (as defined in line 9(a)) have an ownership interest in, or derive any personal benefit from, assets in which the supporting organization also had an interest? If “Yes,” provide detail in Part VI.

10a

Was the organization subject to the excess business holdings rules of IRC 4943 because of IRC 4943(f) (regarding certain Type II supporting organizations, and all Type III non-functionally integrated supporting organizations)? If “Yes,” answer b below.

10a

Did the organization have any excess business holdings in the tax year? (Use Schedule C, Form 4720, to determine whether the organization had excess business holdings).

10b

Has the organization accepted a gift or contribution from any of the following persons?

A person who directly or indirectly controls, either alone or together with persons described in (b) and (c) below, the governing body of a supported organization?

11a

A family member of a person described in (a) above?

11b

A 35% controlled entity of a person described in (a) or (b) above? If “Yes” to a, b, or c, provide detail in Part VI.

11c

Schedule A (Form 990 or 990-EZ) 2014

Page 5

Part IV

Supporting Organizations (continued)

Section B. Type I Supporting Organizations

Yes

Did the directors, trustees, or membership of one or more supported organizations have the power to regularly appoint or elect at least a majority of the organization’s directors or trustees at all times during the tax year? If “No,” describe in Part VI how the supported organization(s) effectively operated, supervised, or controlled the organization’s activities. If the organization had more than one supported organization, describe how the powers to appoint and/or remove directors or trustees were allocated among the supported organizations and what conditions or restrictions, if any, applied to such powers during the tax year.

Did the organization operate for the benefit of any supported organization other than the supported organization(s) that operated, supervised, or controlled the supporting organization? If “Yes,” explain in Part VI how providing such benefit carried out the purposes of the supported organization(s) that operated, supervised or controlled the supporting organization.

Section C. Type II Supporting Organizations

Yes

Were a majority of the organization’s directors or trustees during the tax year also a majority of the directors or trustees of each of the organization’s supported organization(s)? If “No,” describe in Part VI how control or management of the supporting organization was vested in the same persons that controlled or managed the supported organization(s).

Section D. All Type III Supporting Organizations

Yes

Did the organization provide to each of its supported organizations, by the last day of the fifth month of the organization’s tax year, (1) a written notice describing the type and amount of support provided during the prior tax year, (2) a copy of the Form 990 that was most recently filed as of the date of notification, and (3) copies of the organization’s governing documents in effect on the date of notification, to the extent not previously provided?

Were any of the organization’s officers, directors, or trustees either (i) appointed or elected by the supported organization(s) or (ii) serving on the governing body of a supported organization? If "No," explain in Part VI how the organization maintained a close and continuous working relationship with the supported organization(s).

By reason of the relationship described in (2), did the organization’s supported organizations have a significant voice in the organization’s investment policies and in directing the use of the organization’s income or assets at all times during the tax year? If "Yes," describe in Part VI the role the organization’s supported organizations played in this regard.

Section E. Type III Functionally-Integrated Supporting Organizations

Check the box next to the method that the organization used to satisfy the Integral Part Test during the year (see instructions):

The organization satisfied the Activities Test. Complete line 2 below.

The organization is the parent of each of its supported organizations. Complete line 3 below.

The organization supported a governmental entity. Describe in Part VI how you supported a government entity (see instructions)

Activities Test. Answer (a) and (b) below.

Yes

Did substantially all of the organization’s activities during the tax year directly further the exempt purposes of the supported organization(s) to which the organization was responsive? If "Yes," then in Part VI identify those supported organizations and explain how these activities directly furthered their exempt purposes, how the organization was responsive to those supported organizations, and how the organization determined that these activities constituted substantially all of its activities.

Did the activities described in (a) constitute activities that, but for the organization’s involvement, one or more of the organization’s supported organization(s) would have been engaged in? If "Yes," explain in Part VI the reasons for the organization’s position that its supported organization(s) would have engaged in these activities but for the organization’s involvement.

Parent of Supported Organizations. Answer (a) and (b) below.

Did the organization have the power to regularly appoint or elect a majority of the officers, directors, or trustees of each of the supported organizations? Provide details in Part VI.

Did the organization exercise a substantial degree of direction over the policies, programs and activities of each of its supported organizations? If "Yes," describe in Part VI the role played by the organization in this regard.

Schedule A (Form 990 or 990-EZ) 2014

Page 6

Part V – Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations

1. Check here if the organization satisfied the Integral Part Test as a qualifying trust on Nov. 20, 1970. See instructions. All other Type III non-functionally integrated supporting organizations must complete Sections A through E.

	Section A - Adjusted Net Income		(A) Prior Year	(B) Current Year (optional)
1	Net short-term capital gain	1
2	Recoveries of prior-year distributions	2
3	Other gross income (see instructions)	3
4	Add lines 1 through 3	4
5	Depreciation and depletion	5
6	Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions)	6
7	Other expenses (see instructions)	7
8	Adjusted Net Income (subtract lines 5, 6 and 7 from line 4)	8

	Section B - Minimum Asset Amount		(A) Prior Year	(B) Current Year (optional)
1	Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year):	1
a	Average monthly value of securities	1a
b	Average monthly cash balances	1b
c	Fair market value of other non-exempt-use assets	1c
d	Total (add lines 1a, 1b, and 1c)	1d
e	Discount claimed for blockage or other factors (explain in detail in Part VI):
2	Acquisition indebtedness applicable to non-exempt use assets	2
3	Subtract line 2 from line 1d	3
4	Cash deemed held for exempt use. Enter 1-1/2% of line 3 (for greater amount, see instructions).	4
5	Net value of non-exempt-use assets (subtract line 4 from line 3)	5
6	Multiply line 5 by .035	6
7	Recoveries of prior-year distributions	7
8	Minimum Asset Amount (add line 7 to line 6)	8

	Section C - Distributable Amount		Current Year
1	Adjusted net income for prior year (from Section A, line 8, Column A)	1
2	Enter 85% of line 1	2
3	Minimum asset amount for prior year (from Section B, line 8, Column A)	3
4	Enter greater of line 2 or line 3	4
5	Income tax imposed in prior year	5
6	Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions)	6
7	Check here if the current year is the organization's first as a non-functionally-integrated Type III supporting organization (see instructions)

Schedule A (Form 990 or 990-EZ) 2014

Page 7

Section D - Distributions		Current Year
1 Amounts paid to supported organizations to accomplish exempt purposes
2 Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in excess of income from activity
3 Administrative expenses paid to accomplish exempt purposes of supported organizations
4 Amounts paid to acquire exempt-use assets
5 Qualified set-aside amounts (prior IRS approval required)
6 Other distributions (describe in Part VI). See instructions
7Total annual distributions. Add lines 1 through 6.
8 Distributions to attentive supported organizations to which the organization is responsive (provide details in Part VI). See instructions
9 Distributable amount for 2014 from Section C, line 6
10 Line 8 amount divided by Line 9 amount

Section E - Distribution Allocations (see instructions)		(i) Excess Distributions	(ii) Underdistributions Pre-2014	(iii) Distributable Amount for 2014
1 Distributable amount for 2014 from Section C, line 6
2 Underdistributions, if any, for years prior to 2014 (reasonable cause required--see instructions)
3 Excess distributions carryover, if any, to 2014:
a From 2009.......X
b From 2010.......X
c From 2011.......X
d From 2012.......X
e From 2013.......
fTotal of lines 3a through e
g Applied to underdistributions of prior years
h Applied to 2014 distributable amount
i Carryover from 2009 not applied (see instructions)
j Remainder. Subtract lines 3g, 3h, and 3i from 3f.
4Distributions for 2014 from Section D, line 7:
$
a Applied to underdistributions of prior years
b Applied to 2014 distributable amount
c Remainder. Subtract lines 4a and 4b from 4.
5 Remaining underdistributions for years prior to 2014, if any. Subtract lines 3g and 4a from line 2 (if amount greater than zero, see instructions)
6 Remaining underdistributions for 2014. Subtract lines 3h and 4b from line 1 (if amount greater than zero, see instructions)
7 Excess distributions carryover to 2015. Add lines 3j and 4c.
8 Breakdown of line 7:
a From 2010.......X
b From 2011.......X
c From 2012.......X
d From 2013.......
e From 2014.......

Schedule A (Form 990 or 990-EZ) (2014)

Schedule A (Form 990 or 990-EZ) 2014

Page 8

Part VI

Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; Part III, line 12; Part IV, Section A, lines 1, 2, 3b, 3c, 4b, 4c, 5a, 6, 9a, 9b, 9c, 11a, 11b, and 11c; Part IV, Section B, lines 1 and 2; Part IV, Section C, line 1; Part IV, Section D, lines 2 and 3; Part IV, Section E, lines 1c, 2a, 2b, 3a and 3b; Part V, line 1; Part V, Section B, line 1e; Part V Section D, lines 5, 6, and 8; and Part V, Section E, lines 2, 5, and 6. Also complete this part for any additional information. (See instructions).

Facts And Circumstances Test

Return Reference	Explanation

Schedule A (Form 990 or 990-EZ) 2014

Additional Data

Software ID:
Software Version:

- TIN:

Schedule B
(Form 990, 990-EZ,
or 990-PF)

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.

Information about Schedule B (Form 990, 990-EZ, or 990-PF) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Name of the organization

UNIVERSITY OF WISCONSIN FOUNDATION

Employer identification number

39-0743975

Organization type (check one):

Filers of:

Section:

Form 990 or 990-EZ

501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization

Form 990-PF

501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation

Check if your organization is covered by the General Rule or a Special Rule.
Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.

General Rule

For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or
property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.

Special Rules

For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 33¹/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Do not complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Arrow Bullet

Caution. An organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it does not meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).

For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.

Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2014)

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Page 2

Name of organization UNIVERSITY OF WISCONSIN FOUNDATION

Part I	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
RESTRICTED	,	$RESTRICTED	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Page 3

Name of organization UNIVERSITY OF WISCONSIN FOUNDATION

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Page 4

Name of organization
UNIVERSITY OF WISCONSIN FOUNDATION

Employer identification number

39-0743975

Part III

Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10)
that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet

$
Use duplicate copies of Part III if additional space is needed.

(a) No.
from
Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a) No.
from
Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a) No.
from
Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a) No.
from
Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE D
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Financial Statements

Complete if the organization answered "Yes," to Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
SchDMd Bullet

Attach to Form 990.
Information about Schedule D (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization

UNIVERSITY OF WISCONSIN FOUNDATION

Employer identification number

39-0743975

Part I

Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" to Form 990, Part IV, line 6.

		(a) Donor advised funds	(b) Funds and other accounts
1	Total number at end of year .........
2	Aggregate value of contributions to (during year)
3	Aggregate value of grants from (during year)
4	Aggregate value at end of year ........

Did the organization inform all donors and donor advisors in writing that the assets held in donor advised
funds are the organization's property, subject to the organization's exclusive legal control? ............

Yes No

Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be
used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................

Yes No

Part II

Conservation Easements. Complete if the organization answered "Yes" to Form 990, Part IV, line 7.

Purpose(s) of conservation easements held by the organization (check all that apply).

Preservation of land for public use (e.g., recreation or education) Preservation of an historically important land area

Protection of natural habitat Preservation of a certified historic structure

Preservation of open space

Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.


a	Total number of conservation easements .......................	2a
b	Total acreage restricted by conservation easements ..................	2b
c	Number of conservation easements on a certified historic structure included in (a) .....	2c
d	Number of conservation easements included in (c) acquired after 8/17/06, and not on a historic structure listed in the National Register ....................	2d

Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the tax year SchDMd Bullet

Number of states where property subject to conservation easement is located SchDMd Bullet

Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and
enforcement of the conservation easements it holds? .............................

Yes No

Staff and volunteer hours devoted to monitoring, inspecting, and enforcing conservation easements during the year
SchDMd Bullet

Amount of expenses incurred in monitoring, inspecting, and enforcing conservation easements during the year
SchDMd Bullet

Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .......................................

Yes No

In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" to Form 990, Part IV, line 8.

If the organization elected, as permitted under SFAS 116 (ASC 958), not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.

If the organization elected, as permitted under SFAS 116 (ASC 958), to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:

(i)

Revenue included in Form 990, Part VIII, line 1 ........................ SchDMd Bullet

(ii)

Assets included in Form 990, Part X .............................. SchDMd Bullet

If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under SFAS 116 (ASC 958) relating to these items:

Revenue included in Form 990, Part VIII, line 1 .......................... SchDMd Bullet

Assets included in Form 990, Part X ............................... SchDMd Bullet

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 52283D

Schedule D (Form 990) 2014

Page 2

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)

Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):

Public exhibition

Loan or exchange programs

Scholarly research

Other

Preservation for future generations

Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.

During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?........

Yes No

Part IV

Escrow and Custodial Arrangements. Complete if the organization answered "Yes" to Form 990,
Part IV, line 9, or reported an amount on Form 990, Part X, line 21.

Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................

Yes No

If "Yes," explain the arrangement in Part XIII and complete the following table:


c	Beginning balance .................................	1c
d	Additions during the year ..............................	1d
e	Distributions during the year .............................	1e
f	Ending balance ...................................	1f

Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability?

Yes No

If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII .......

Part V

Endowment Funds. Complete if the organization answered "Yes" to Form 990, Part IV, line 10.

		(a)Current year	(b)Prior year	b (c)Two years back	(d)Three years back	(e)Four years back
1a	Beginning of year balance ....	1,555,980,361	1,380,851,531	1,284,657,858	1,022,569,932	886,302,945
b	Contributions ........	68,190,571	44,274,718	24,271,427	35,834,472	53,062,709
c	Net investment earnings, gains, and losses	68,320,858	179,220,591	122,517,831	-41,848,815	130,411,566
d	Grants or scholarships .....
e	Other expenditures for facilities and programs ........	47,367,978	48,366,479	50,595,585	36,834,396	47,207,288
f	Administrative expenses ....
g	End of year balance ......	1,645,123,812	1,555,980,361	1,380,851,531	979,721,193	1,022,569,932

Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:

Board designated or quasi-endowment SchDMd Bullet

Permanent endowment SchDMd Bullet

76.675 %

Temporarily restricted endowment SchDMd Bullet

23.325 %

The percentages in lines 2a, 2b, and 2c should equal 100%.

Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes

(i) unrelated organizations ........................

3a(i)

(ii) related organizations ........................

3a(ii)

If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? .........

Describe in Part XIII the intended uses of the organization's endowment funds.

Part VI

Land, Buildings, and Equipment. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11a. See Form 990, Part X, line 10.

Description of property		(b)Cost or other basis (other)	(c) Accumulated depreciation	(d) Book value
1a	Land .................	502,530		502,530
b	Buildings ................	10,422,744	4,833,563	5,589,181
c	Leasehold improvements ............	561,893	456,334	105,559
d	Equipment ................	14,472,325	3,232,467	11,239,858
e	Other .................
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).).......				17,437,128

Schedule D (Form 990) 2014

Page 3

Part VII

InvestmentsOther Securities. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11b. See Form 990, Part X, line 12.

(a) Description of security or category (including name of security)	(b)Book value	(c) Method of valuation: Cost or end-of-year market value
(1)Financial derivatives
(2)Closely-held equity interests
(3)Other (A) LIMITED PARTNERSHIPS	361,434,188	F
(B) REAL ASSET FUNDS	162,150,583	F
(C) OTHER FUNDS	2,349,194	F






Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)	525,933,965

Part VIII

InvestmentsProgram Related. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11c. See Form 990, Part X, line 13.

(a) Description of investment		(b) Book value	(c) Method of valuation: Cost or end-of-year market value









Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)

Part IX

Other Assets. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11d. See Form 990, Part X, line 15.

(a) Description				(b) Book value









Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........

Part X

Other Liabilities. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.

1.(a) Description of liability		(b) Book value
Federal income taxes		0
DEFERRED COMPENSATION		2,261,553
ACCRUED SOCIAL SECURITY		10,525
LIABILITY UNDER SPLIT INTEREST		47,334,577
FUNDS DUE TO OTHER ORGANIZATION		1,618,805
BENEFIT OF U.W. - HOSPITAL & CLINIC		282,500,451
BENEFIT OF U.W. - STEVENS POINT FDN		24,846,068
BENEFIT OF U.W. - STOUT FDN		1,416,485
BENEFIT OF U.W. - GREEN BAY		5,314,381

Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)		365,302,845
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII

Schedule D (Form 990) 2014

Page 4

Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1	Total revenue, gains, and other support per audited financial statements .......			1	480,422,839
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains (losses) on investments ....	2a	-53,291,490
b	Donated services and use of facilities .........	2b
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIII.) ............	2d
e	Add lines 2a through 2d .....................			2e	-53,291,490
3	Subtract line 2e from line 1.....................			3	533,714,329
4	Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b .	4a
b	Other (Describe in Part XIII.) ...........	4b	11,212,213
c	Add lines 4a and 4b.......................			4c	11,212,213
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......			5	544,926,542

Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1	Total expenses and losses per audited financial statements ...........			1	291,322,308
2	Amounts included on line 1 but not on Form 990, Part IX, line 25:
a	Donated services and use of facilities ..........	2a
b	Prior year adjustments ..............	2b
c	Other losses ................	2c
d	Other (Describe in Part XIII.) ............	2d
e	Add lines 2a through 2d......................			2e
3	Subtract line 2e from line 1.....................			3	291,322,308
4	Amounts included on Form 990, Part IX, line 25, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b ..	4a
b	Other (Describe in Part XIII.) ............	4b	3,196,105
c	Add lines 4a and 4b.......................			4c	3,196,105
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......			5	294,518,413

Part XIII

Supplemental Information

Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b;
Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.

Return Reference	Explanation
Schedule D, Part X, Line 2	ORGANIZATION'S LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER ASC 740 The foundation has received a determination letter from the Internal Revenue Service stating that it is exempt from federal income tax under secion 501(c)(3) of the internal revenue code ("IRC"). However, the foundation is subject to federal and state income taxes on its unrelated business income, as a result of ownership in various investment entities. The foundation recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statement is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The foundation applied the uncertain tax position guidance to all tax positions for which the statute of limitations remained open. The foundation is subject to federal income taxes and files state tax returns in various states. In addition to filing in its home state of Wisconsin, the foundation files state income tax returns in thirty-six states. Additionally, voluntary disclosure agreements in two states are still pending. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. Tax years open to examination by tax authorities under federal statute of limitations include calendar years 2011 through 2014. Open tax years under the various state statuteS OF LIMITATIONS VARY AND IN MOST CASES INCLUDE CALENDAR YEARS 2008 through 2014. For all states where the foundation has not filed a state return, all tax years remain open. The foundation, if applicable, recognizes interest accrued related to unrecognized tax benefits in interest expense and recognizes penalties in operating expenses. During the years ended December 31, 2014 and 2013, the foundation did not recognize any material interest or penalties.
Part XI, Line 4b	RECONCILIATION OF REVENUE WAA Contribution 8,016,107 Gaming Expenses (21,385) Contra Revenue Reclass 81,843 Contra Expenses Reclass 3,135,648 ----------- Total 11,212,213 Part XII, Line 4b Reconciliation of expense Gaming Expenses (21,385) Contra Revenue Reclass 81,843 Contra Expenses Reclass 3,135,648 Rounding (1) ----------- Total 3,196,105

Return Reference

Explanation

Schedule D, Part X, Line 2

ORGANIZATION'S LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER ASC 740 The foundation has received a determination letter from the Internal Revenue Service stating that it is exempt from federal income tax under secion 501(c)(3) of the internal revenue code ("IRC"). However, the foundation is subject to federal and state income taxes on its unrelated business income, as a result of ownership in various investment entities. The foundation recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statement is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The foundation applied the uncertain tax position guidance to all tax positions for which the statute of limitations remained open. The foundation is subject to federal income taxes and files state tax returns in various states. In addition to filing in its home state of Wisconsin, the foundation files state income tax returns in thirty-six states. Additionally, voluntary disclosure agreements in two states are still pending. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. Tax years open to examination by tax authorities under federal statute of limitations include calendar years 2011 through 2014. Open tax years under the various state statuteS OF LIMITATIONS VARY AND IN MOST CASES INCLUDE CALENDAR YEARS 2008 through 2014. For all states where the foundation has not filed a state return, all tax years remain open. The foundation, if applicable, recognizes interest accrued related to unrecognized tax benefits in interest expense and recognizes penalties in operating expenses. During the years ended December 31, 2014 and 2013, the foundation did not recognize any material interest or penalties.

Part XI, Line 4b

RECONCILIATION OF REVENUE WAA Contribution 8,016,107 Gaming Expenses (21,385) Contra Revenue Reclass 81,843 Contra Expenses Reclass 3,135,648 ----------- Total 11,212,213 Part XII, Line 4b Reconciliation of expense Gaming Expenses (21,385) Contra Revenue Reclass 81,843 Contra Expenses Reclass 3,135,648 Rounding (1) ----------- Total 3,196,105

Schedule D (Form 990) 2014

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE F(Form 990)

Department of the Treasury
Internal Revenue Service

Statement of Activities Outside the United States

Complete if the organization answered "Yes" to Form 990,Part IV, line 14b, 15, or 16. Right pointing arrow large image

Attach to Form 990. Right pointing arrow large image

Information about Schedule F (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization
UNIVERSITY OF WISCONSIN FOUNDATION

Employer identification number

39-0743975

Part I

General Information on Activities Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 14b.

For grantmakers. Does the organization maintain records to substantiate the amount of its grants

and other assistance, the grantees’ eligibility for the grants or assistance, and the selection criteria

used to award the grants or assistance? ...........................

Yes

For grantmakers. Describe in Part V the organization’s procedures for monitoring the use of its grants and other assistance outside the United States.

Activites per Region. (The following Part I, line 3 table can be duplicated if additional space is needed.)

(a) Region		(d) Activities conducted in region (by type) (e.g., fundraising, program services, investments, grants to recipients located in the region)
	Central America and the Caribbean	Investments
	Europe (Including Iceland and Greenland)	Investments
	Sub-Saharan Africa	Investments














3a	Sub-total .....
b	Total from continuation sheets to Part I ...
c	Totals (add lines 3a and 3b)

For Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) 2014

Schedule F (Form 990) 2014

Page 2

Part II

Grants and Other Assistance to Organizations or Entities Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 15, for any recipient who received more than $5,000. Part II can be duplicated if additional space is needed.

1 (a) Name of organization		(b) IRS code section and EIN (if applicable)	(a)(c) Region	(b)(d) Purpose of grant	(e) Amount of cash grant	(f) Manner of cash disbursement	(g) Amount of non-cash assistance	(h) Description of non-cash assistance	(i) Method of valuation (book, FMV, appraisal, other)

Enter total number of recipient organizations listed above that are recognized as charities by the foreign country, recognized as tax-exempt by the IRS, or for which the grantee or counsel has provided a section 501(c)(3) equivalency letter .... MediumBullet

Enter total number of other organizations or entities ....................... MediumBullet

Schedule F (Form 990) 2014

Schedule F (Form 990) 2014Page 3

Part III

Grants and Other Assistance to Individuals Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 16.

Part III can be duplicated if additional space is needed.

(a) Type of grant or assistance		(b) Region	(c) Number of recipients	(d) Amount of cash grant	(e) Manner of cash disbursement	(f) Amount of non-cash assistance	(g) Description of non-cash assistance	(h) Method of valuation (book, FMV, appraisal, other)

Schedule F (Form 990) 2014

Page 4

Part IV

Foreign Forms

Schedule F (Form 990) 2014

Page 5

Part V

Supplemental Information
Provide the information required by Part I, line 2 (monitoring of funds); Part I, line 3, column (f) (accounting method; amounts of investments vs. expenditures per region); Part II, line 1 (accounting method); Part III (accounting method); and Part III, column (c) (estimated number of recipients), as applicable. Also complete this part to provide any additional information (see instructions).

ReturnReference	Explanation
Schedule F, Part I, Column (F)	Activities per Region: Total Expenditures and Investments Due to the extent and indirect tiered partnership structure of the Foundation's investments, this information is not readily available. The Foundation does monitor the investments for Form 926 and Form 8865 filing requirements and files applicable returns as needed which are submitted with Form 990-T.

Schedule F (Form 990) 2014

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE G (Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information Regarding
Fundraising or Gaming Activities

Complete if the organization answered "Yes" to Form 990, Part IV, lines 17, 18, or 19, or if the organization entered more than $15,000 on Form 990-EZ, line 6a. right arrow

Attach to Form 990 or Form 990-EZ.
right arrow

Information about Schedule G (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization
UNIVERSITY OF WISCONSIN FOUNDATION

Employer identification number

39-0743975

Part I

Fundraising Activities. Complete if the organization answered "Yes" to Form 990, Part IV, line 17. Form 990-EZ

filers are not required to complete this part.

Indicate whether the organization raised funds through any of the following activities. Check all that apply.

a	Mail solicitations	e	Solicitation of non-government grants
b	Internet and email solicitations	f	Solicitation of government grants
c	Phone solicitations	g	Special fundraising events
d	In-person solicitations

Did the organization have a written or oral agreement with any individual (including officers, directors, trustees

or key employees listed in Form 990, Part VII) or entity in connection with professional fundraising services?

Yes

If "Yes," list the ten highest paid individuals or entities (fundraisers) pursuant to agreements under which the fundraiser is
to be compensated at least $5,000 by the organization.

(i) Name and address of individual or entity (fundraiser)	(iii) Did fundraiser have custody or control of contributions?
	Yes	No










Total .................

List all states in which the organization is registered or licensed to solicit contributions or has been notified it is exempt from registration or licensing.

For Paperwork Reduction Act Notice, see the Instructions for Form 990or 990-EZ.

Cat. No. 50083H

Schedule G (Form 990 or 990-EZ) 2014

Page 2

Part II

Fundraising Events. Complete if the organization answered "Yes" to Form 990, Part IV, line 18, or reported more than $15,000 of fundraising event contributions and gross income on Form 990-EZ, lines 1 and 6b. List events with gross receipts greater than $5,000.

			(a) Event #1 (event type)	(b) Event #2 (event type)	(c) Other events (total number)	(d) Total events (add col. (a) through col. (c))
	1	Gross receipts . . .
	2	Less: Contributions . .
	3	Gross income (line 1 minus line 2) . . .
	4	Cash prizes . . .
	5	Noncash prizes . .
	6	Rent/facility costs . .
	7	Food and beverages .
	8	Entertainment . . .
	9	Other direct expenses .
	10	Direct expense summary. Add lines 4 through 9 in column (d) ...........
	11	Net income summary. Subtract line 10 from line 3, column (d)...........

Part III

Gaming. Complete if the organization answered "Yes" to Form 990, Part IV, line 19, or reported more than $15,000 on Form 990-EZ, line 6a.

(a) Bingo

(b) Pull tabs/Instant
bingo/progressive bingo

(c) Other gaming

(d) Total gaming (add col.(a) through col.(c))

Gross revenue . . . .

38,939

Cash prizes . . . .

10,410

Non-cash prizes . . .

Rent/facility costs . . .

Other direct expenses . .

10,975

Volunteer labor . . .

	Yes %
	No

	Yes %
	No

	Yes %
	No

Direct expense summary. Add lines 2 through 5 in column (d) ........... right arrow

21,385

Net gaming income summary. Subtract line 7 from line 1, column (d) ......... right arrow

17,554

Enter the state(s) in which the organization conducts gaming activities: WI

Is the organization licensed to conduct gaming activities in each of these states? ............

YesNo

If "No," explain:

10a

Were any of the organization's gaming licenses revoked, suspended or terminated during the tax year? .....

YesNo

If "Yes," explain:

Schedule G (Form 990 or 990-EZ) 2014

Page 3

Does the organization conduct gaming activities with nonmembers? .................

YesNo

Is the organization a grantor, beneficiary or trustee of a trust or a member of a partnership or other entity

formed to administer charitable gaming? ..........................

YesNo

Indicate the percentage of gaming activities conducted in:

The organization's facility ......................

13a

100.000 %

An outside facility ........................

13b

Enter the name and address of the person who prepares the organization's gaming/special events books and records:

Name

Bridget Bush

Address

1848 University Avenue
Madison,WI53726

15a

Does the organization have a contract with a third party from whom the organization receives gaming

revenue? ......................................

YesNo

If "Yes," enter the amount of gaming revenue received by the organization right arrow

$ and the

amount of gaming revenue retained by the third party right arrow

If "Yes," enter name and address of the third party:

Name

Address

Gaming manager information:

Name

Bridget Bush

Gaming manager compensation right arrow

Description of services provided right arrow

Oversees student organization raffle

Director/officer Employee Independent contractor

Mandatory distributions:

Is the organization required under state law to make charitable distributions from the gaming proceeds to

retain the state gaming license? ............................

YesNo

Enter the amount of distributions required under state law distributed to other exempt organizations or spent

in the organization's own exempt activities during the tax year right arrow

Part IV

Supplemental Information. Provide the explanations required by Part I, line 2b, columns (iii) and (v), and Part III, lines 9, 9b, 10b, 15b, 15c, 16, and 17b, as applicable. Also provide any additional information (see instructions).

Return Reference	Explanation

Schedule G (Form 990 or 990-EZ) 2014

Additional Data

Software ID:
Software Version:

- TIN:

Schedule I
(Form 990)

Department of the Treasury
Internal Revenue Service

Grants and Other Assistance to Organizations,
Governments and Individuals in the United States

Complete if the organization answered "Yes," to Form 990, Part IV, line 21 or 22.
lBullet

Attach to Form 990.
lBullet

Information about Schedule I (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public
Inspection

Name of the organization
UNIVERSITY OF WISCONSIN FOUNDATION

Employer identification number
39-0743975

Part I

General Information on Grants and Assistance

Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ....................................

Yes No

Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.

Part II

Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" to
Form 990, Part IV, line 21, for any recipient that received more than $5,000. Part II can be duplicated if additional space is needed.

(a) Name and address of organization or government	(b) EIN	(c) IRC section if applicable	(d) Amount of cash grant	(e) Amount of non-cash assistance	(f) Method of valuation (book, FMV, appraisal, other)	(g) Description of non-cash assistance	(h) Purpose of grant or assistance
(1) University of Wisconsin uw campus Madison,WI53715	39-6006492	State of WIS		2,083,500	appraisal	artwork	See Sch I, Part IV
(2) University of Wisconsin uw campus Madison,WI53715	39-6006492	State of WIS		918,500	fair market value	medical equip	See Sch I, Part IV
(3) University of Wisconsin uw campus Madison,WI53715	39-6006492	State of WIS		500,000	Appraisal	Artwork	See Sch I, Part IV
(4) University of Wisconsin uw campus Madison,WI53715	39-6006492	State of WIS		400,000	Appraisal	Artwork	See Sch I, Part IV
(5) University of Wisconsin uw campus Madison,WI53715	39-6006492	State of WIS		338,902	Appraisal	Artwork	See Sch I, Part IV
(6) University of Wisconsin uw campus Madison,WI53715	39-6006492	State of WIS		250,000	Appraisal	Artwork	See Sch I, Part IV
(7) University of Wisconsin uw campus Madison,WI53715	39-6006492	State of WIS		234,930	appraisal	artwork	See Sch I, Part IV
(8) University of Wisconsin uw campus Madison,WI53715	39-6006492	State of WIS		185,200	Appraisal	books	See Sch I, Part IV
(9) University of Wisconsin uw campus Madison,WI53715	39-6006492	State of WIS		150,000	appraisal	artwork	See Sch I, Part IV
(10) University of Wisconsin uw campus Madison,WI53715	39-6006492	State of WIS		100,000	Appraisal	Artwork	See Sch I, Part IV
(11) University of Wisconsin uw campus Madison,WI53715	39-6006492	State of WIS		80,000	Appraisal	Artwork	See Sch I, Part IV
(12) University of Wisconsin uw campus Madison,WI53715	39-6006492	State of WIS		54,778	fair market value	animal equip	See Sch I, Part IV
(13) University of Wisconsin uw campus Madison,WI53715	39-6006492	State of WIS		30,000	Appraisal	artwork	See Sch I, Part IV
(14) University of Wisconsin uw campus Madison,WI53715	39-6006492	State of WIS		30,000	Appraisal	piano	See Sch I, Part IV
(15) University of Wisconsin uw campus Madison,WI53715	39-6006492	State of WIS		22,750	appraisal	artwork	See Sch I, Part IV
(16) University of Wisconsin uw campus Madison,WI53715	39-6006492	State of WIS		20,000	appraisal	artwork	See Sch I, Part IV
(17) University of Wisconsin uw campus Madison,WI53715	39-6006492	State of WIS		13,732	fair market value	event hosting	See Sch I, Part IV
(18) University of Wisconsin uw campus Madison,WI53715	39-6006492	State of WIS		11,500	Appraisal	Artwork	See Sch I, Part IV
(19) University of Wisconsin uw campus Madison,WI53715	39-6006492	State of WIS		9,500	Appraisal	Artwork	See Sch I, Part IV
(20) University of Wisconsin uw campus Madison,WI53715	39-6006492	State of WIS		7,500	Appraisal	Artwork	See Sch I, Part IV
(21) University of Wisconsin uw campus Madison,WI53715	39-6006492	State of WIS		6,500	aappraisal	artwork	See Sch I, Part IV
(22) University of Wisconsin uw campus Madison,WI53715	39-6006492	State of WIS		6,294	fair market value	travel expenses	See Sch I, Part IV
(23) University of Wisconsin uw campus Madison,WI53715	39-6006492	State of WIS		5,500	Appraisal	Artwork	See Sch I, Part IV
(24) UNIVERSITY OF WISCONSIN uw campus MADISON,WI53715	39-6006492	STATE OF WIS	241,218,640				SEE SCH I, PART IV

Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................ Bullet Image

Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50055P

Schedule I (Form 990) 2014

Page 2

Part III

Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" to Form 990, Part IV, line 22.
Part III can be duplicated if additional space is needed.

(a)Type of grant or assistance	(b)Number of recipients	(c)Amount of cash grant	(d)Amount of non-cash assistance	(e)Method of valuation (book, FMV, appraisal, other)	(f)Description of non-cash assistance

Part IV

Supplemental Information. Provide the information required in Part I, line 2, Part III, column (b), and any other additional information.

Return Reference

Explanation

Schedule I, Part I, Question 2, Part II, Column (H)

ORGANIZATION'S PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS THE UNIVERSITY OF WISCONSIN FOUNDATION AIDS THE UNIVERSITY OF WISCONSIN BY SOLICITING GIFTS OF REAL AND PERSONAL PROPERTY WHICH IT COLLECTS, ADMINISTERS AND DISTRIBUTES FOR THE BENEFIT OF THE UNIVERSITY OF WISCONSIN IN ADVANCING ITS SCIENTIFIC, LITERARY, ATHLETIC AND EDUCATIONAL PURPOSES. THERE IS NO FURTHER MONITORING OF THE USE OF GRANT FUNDS FOLLOWING DISBURSEMENT TO THE UNIVERSITY OF WISCONSIN.

Schedule I (Form 990) 2014

Additional Data

Software ID:
Software Version:

- TIN:

Schedule J
(Form 990)

Department of the Treasury
Internal Revenue Service

Compensation Information

For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
SchJMediumBullet

Complete if the organization answered "Yes" to Form 990, Part IV, line 23.
SchJMediumBullet

Attach to Form 990.
SchJMediumBullet

Information about Schedule J (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization

UNIVERSITY OF WISCONSIN FOUNDATION

Employer identification number

39-0743975

Part I

Questions Regarding Compensation

Yes

Check the appropiate box(es) if the organization provided any of the following to or for a person listed in Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.

First-class or charter travel Housing allowance or residence for personal use

Travel for companions Payments for business use of personal residence

Tax idemnification and gross-up payments Health or social club dues or initiation fees

Discretionary spending account Personal services (e.g., maid, chauffeur, chef)

If any of the boxes in line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain....

Yes

Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked in line 1a? ..

Yes

Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.

Compensation committee Written employment contract

Independent compensation consultant Compensation survey or study

Form 990 of other organizations Approval by the board or compensation committee

During the year, did any person listed in Form 990, Part VII, Section A, line 1a with respect to the filing organization or a related organization:

Receive a severance payment or change-of-control payment? ................

Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........

Yes

Participate in, or receive payment from, an equity-based compensation arrangement? .........

If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.

Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.

For persons listed in Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:

The organization? ...........................

Any related organization? .........................

If "Yes," to line 5a or 5b, describe in Part III.

For persons listed in Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:

The organization? ...........................

Any related organization? .........................

If "Yes," to line 6a or 6b, describe in Part III.

For persons listed in Form 990, Part VII, Section A, line 1a, did the organization provide any non-fixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............

Yes

Were any amounts reported in Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III .............................

If "Yes" to line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50053T

Schedule J (Form 990) 2014

Page 2

Part II

Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.

For each individual whose compensation must be reported in Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.

(A) Name and Title		(B) Breakdown of W-2 and/or 1099-MISC compensation			(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)	(F) Compensation in column(B) reported as deferred in prior Form 990
(A) Name and Title		(i) Base compensation	(ii) Bonus & incentive compensation	(iii) Other reportable compensation	(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)
1Michael M KnetterPRESIDENT AND CEO	(i) (ii)	461,603 ............................... 0	95,625 ............................... 0	11,380 ............................... 0	90,000 ............................... 0	19,574 ............................... 0	678,182 ............................... 0	0 ............................... 0
2Julie Van CleaveChief Investment Officer	(i) (ii)	500,600 ............................... 0	99,520 ............................... 0	1,290 ............................... 0	10,000 ............................... 0	1,498 ............................... 0	612,908 ............................... 0	0 ............................... 0
3Thomas P OlsonChief Investment Officer	(i) (ii)	371,595 ............................... 0	101,970 ............................... 0	450 ............................... 0	26,000 ............................... 0	19,574 ............................... 0	519,589 ............................... 0	0 ............................... 0
4Steven L HudsonChief Financial Officer	(i) (ii)	223,747 ............................... 0	0 ............................... 0	1,980 ............................... 0	22,950 ............................... 0	19,574 ............................... 0	268,251 ............................... 0	0 ............................... 0
5Kari MyrlandChief Information Officer	(i) (ii)	206,718 ............................... 0	0 ............................... 0	1,290 ............................... 0	19,008 ............................... 0	7,278 ............................... 0	234,294 ............................... 0	0 ............................... 0
6Alisa A RobertsonAssistant Treasurer	(i) (ii)	175,401 ............................... 0	30,600 ............................... 0	300 ............................... 0	17,497 ............................... 0	1,498 ............................... 0	225,296 ............................... 0	0 ............................... 0
7Russell N HowesAssistant secretary	(i) (ii)	180,405 ............................... 0	0 ............................... 0	3,810 ............................... 0	18,360 ............................... 0	12,961 ............................... 0	215,536 ............................... 0	0 ............................... 0
8Geoffrey M McCloskeyController	(i) (ii)	133,667 ............................... 0	0 ............................... 0	371 ............................... 0	13,064 ............................... 0	19,205 ............................... 0	166,307 ............................... 0	0 ............................... 0
9John DobsonManaging Sr Dir - Term 5/2014	(i) (ii)	157,131 ............................... 0	123,529 ............................... 0	292 ............................... 0	14,817 ............................... 0	1,173 ............................... 0	296,942 ............................... 0	0 ............................... 0
10Marion BrownVice President of Development	(i) (ii)	163,047 ............................... 0	0 ............................... 0	3,810 ............................... 0	16,448 ............................... 0	2,131 ............................... 0	185,436 ............................... 0	0 ............................... 0
11James KennedyChief Marketing Officer	(i) (ii)	164,135 ............................... 0	0 ............................... 0	398 ............................... 0	0 ............................... 0	17,874 ............................... 0	182,407 ............................... 0	0 ............................... 0
12Jodi PatekChief of Staff	(i) (ii)	156,025 ............................... 0	0 ............................... 0	445 ............................... 0	15,109 ............................... 0	12,846 ............................... 0	184,425 ............................... 0	0 ............................... 0
13Anne LuckeVP & Managing Group Leader	(i) (ii)	148,455 ............................... 0	0 ............................... 0	687 ............................... 0	15,057 ............................... 0	7,045 ............................... 0	171,244 ............................... 0	0 ............................... 0

Schedule J (Form 990) 2014

Page 3

Part III

Supplemental Information

Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II.
Also complete this part for any additional information.

Return Reference	Explanation
Schedule J, Part I, Line 1A	HEALTH OR SOCIAL CLUB MEMBERSHIPS THE PERSONAL USE PORTION OF MICHAEL M KNETTER'S COUNTRY CLUB MEMBERSHIP WAS INCLUDED IN HIS FORM W-2.
Schedule J, Part I, Line 4B	PERSONS PARTICIPATING IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN MICHAEL KNETTER PARTICIPATES IN A 457(B) AND 457(F) SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN OF THE UNIVERSITY OF WISCONSIN FOUNDATION. THE UNIVERSITY OF WISCONSIN FOUNDATION CONTRIBUTED $17,500 AND $46,500 RESPECTIVELY TO THESE PLANS DURING 2014.
Schedule J, Part I, Line 7	ORGANIZATION PROVIDING NON-FIXED PAYMENTS NOT DESCRIBED IN LINES 5 & 6 BEGINNING WITH CALENDAR YEAR 2007, THE INVESTMENT COMMITTEE OF THE UNIVERSITY OF WISCONSIN FOUNDATION BOARD INSTITUTED AN INCENTIVE COMPENSATION PLAN FOR SELECTED PARTICIPANTS OF THE UW FOUNDATION INVESTMENT MANAGMENT GROUP. THE BOARD OF DIRECTORS AND THE PRESIDENT OF THE UNIVERSITY OF WISCONSIN FOUNDATION APPROVED THE ESTABLISHMENT OF THE PLAN WHICH IS DETAILED BELOW: PARTICIPANTS: CHIEF INVESTMENT OFFICER, SENIOR DIRECTORS OF INVESTMENTS AND OTHERS RECOMMENDED BY THE PRESIDENT AND CEO AND APPROVED BY THE INVESTMENT COMMITTEE AND BUDGET AND PERSONNEL COMPENSATION SUBCOMMITTEE. INCENTIVE COMPENSATION: PARTICIPANTS ARE ELIGIBLE FOR AWARDS RANGING FROM ZERO TO 50% OF THEIR ANNUAL BASE CASH COMPENSATION EARNED IN THE FISCAL YEAR UNDER REVIEW. THE PRESIDENT AND CEO, IN CONSULTATION WITH THE CHAIR OF THE INVESTMENT COMMITTEE, RECOMMENDS APPROPRIATE PERCENTAGE AWARDS BASED UPON A RETROSPECTIVE ASSESSMENT OF PERFORMANCE AGAINST GOALS ON A SET OF WEIGHTED FACTORS CUSTOMIZED FOR EACH ELIGIBLE EMPLOYEE. THESE ASSESSMENTS ARE COMPLETED AS DATA BECOMES AVAILABLE FOR THE PRIOR FISCAL YEAR, TYPICALLY DURING THE MONTH OF FEBRUARY, AND ARE SUBSEQUENTLY PRESENTED TO THE BUDGET AND PERSONNEL COMPENSATION SUBCOMMITTEE FOR APPROVAL. INCENTIVE COMPENSATION AWARDED UNDER THIS PLAN WILL NOT TRIGGER ADDITIONAL CONTRIBUTIONS TO THE FOUNDATION'S DEFINED CONTRIBUTION PENSION PLAN. FACTORS TO CONSIDER: IN DETERMINING THE PERCENTAGE OF SALARY TO BE AWARDED, EACH ELIGIBLE PARTICIPANT WILL BE EVALUATED ON INVESTMENT RETURN RESULTS AS WELL AS NON-FINANCIAL FACTORS RELATED TO HIS/HER PERFORMANCE. THE SPECIFIC FACTORS, COMPARISONS, TIMEFRAMES AND WEIGHTINGS WILL BE DETERMINED BY THE INVESTMENT COMMITTEE CHAIR, IN CONSULTATION WITH THE PRESIDENT AND CEO, BASED ON EACH INDIVIDUAL PARTICIPANT'S ROLE, LENGTH OF SERVICE, ASSET CLASS RESPONSIBILITY AND OTHER RELEVANT FACTORS. THESE PERSONALIZED PERFORMANCE MEASURES WILL BE DOCUMENTED IN MATRICES, AND APPROVED BY THE BUDGET AND PERSONNEL COMPENSATION SUBCOMMITTEE FOR EACH PARTICIPANT PRIOR TO THE BEGINNING OF THE FISCAL YEAR TO BE MEASURED. METHOD OF PAYMENT: PAYMENTS WILL BE AWARDED AS CASH OR DEFERRED COMPENSATION, THE LATTER SUBJECT TO APPROPRIATE IRS AND SEC REGULATIONS. PARTICIPANTS MAY SELECT THE FORM OF COMPENSATION IN INCREMENTS OF 25%.

Schedule J (Form 990) 2014

Additional Data

Software ID:
Software Version:

- TIN:

Schedule L
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Transactions with Interested Persons

Complete if the organization answered
"Yes" on Form 990, Part IV, lines 25a, 25b, 26, 27, 28a, 28b, or 28c,
or Form 990-EZ, Part V, line 38a or 40b.
MediumBullet

Attach to Form 990 or Form 990-EZ.
MediumBullet

Information about Schedule L (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization

UNIVERSITY OF WISCONSIN FOUNDATION

Employer identification number

39-0743975

Part I

Excess Benefit Transactions (section 501(c)(3), section 501(c)(4), and 501(c)(29) organizations only).
Complete if the organization answered "Yes" on Form 990, Part IV, line 25a or 25b, or Form 990-EZ, Part V, line 40b.

1(a) Name of disqualified person	(c) Description of transaction	(d) Corrected?
1(a) Name of disqualified person	(c) Description of transaction	Yes	No

Enter the amount of tax incurred by organization managers or disqualified persons during the year under section 4958. ........................... Bullet Image

Enter the amount of tax, if any, on line 2, above, reimbursed by the organization ....... Bullet Image

Part II

Loans to and/or From Interested Persons.
Complete if the organization answered "Yes" on Form 990-EZ, Part V, line 38a, or Form 990, Part IV, line 26; or if the organization reported an amount on Form 990, Part X, line 5, 6, or 22

(a) Name of interested person	(b) Relationship with organization	(c) Purpose of loan	(d) Loan to or from the organization?		(e)Original principal amount	(f)Balance due	(g) In default?		(h) Approved by board or committee?		(i)Written agreement?
(a) Name of interested person	(b) Relationship with organization	(c) Purpose of loan	To	From	(e)Original principal amount	(f)Balance due	Yes	No	Yes	No	Yes	No






Total ...... $

Part III

Grants or Assistance Benefiting Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 27.

(a) Name of interested person	(b) Relationship between interested person and the organization	(c) Amount of assistance	(d) Type of assistance	(e) Purpose of assistance

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 50056A

Schedule L (Form 990 or 990-EZ) 2014

Page 2

Part IV

Business Transactions Involving Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 28a, 28b, or 28c.

(a) Name of interested person	(b) Relationship between interested person and the organization	(c) Amount of transaction	(d) Description of transaction	(e) Sharing of organization's revenues?
(a) Name of interested person		(c) Amount of transaction	(d) Description of transaction	Yes	No
(1) Robert W Baird Co Inc	Director on the board	676,000	Investment Management Fees		No

Part V

Supplemental Information
Provide additional information for responses to questions on Schedule L (see instructions).

Return Reference	Explanation
Schedule L, Part IV, Line 1	Business Transaction Involving Interested Person The UW Foundation paid Robert W. Baird & Co., Inc. $676,000 for investment management. Cory Nettles, a UW Foundation director, is a director at Robert W. Baird & Co., Inc.

Schedule L (Form 990 or 990-EZ) 2014

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE M
(Form 990)

Department of the Treasury

Internal Revenue Service

Noncash Contributions

Complete if the organizations answered "Yes" on Form 990, Part IV, lines 29 or 30.
Right pointing arrow large image

Attach to Form 990.
Right pointing arrow large image

Information about Schedule M (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization

UNIVERSITY OF WISCONSIN FOUNDATION

Employer identification number

39-0743975

Part I

Types of Property

	(a) Check if applicable	(b) Number of contributions or items contributed	(c) Noncash contribution amounts reported on Form 990, Part VIII, line 1g	(d) Method of determining noncash contribution amounts
1 Art—Works of art ....	X	28	4,279,185	APPRAISAL/OTHER
2 Art—Historical treasures .
3 Art—Fractional interests ..
4 Books and publications ..	X		185,202	APPRAISAL/OTHER
5 Clothing and household goods .......
6 Cars and other vehicles ..
7 Boats and planes ....
8 Intellectual property ...
9 Securities—Publicly traded .	X	443	116,616,869	OTHER
10 Securities—Closely held stock .	X	4	1,092,349	OTHER
11 Securities—Partnership, LLC, or trust interests ....
12 Securities—Miscellaneous ..	X	1	54,188	other
13 Qualified conservation contribution—Historic structures .....
14 Qualified conservation contribution—Other ...
15 Real estate—Residential .	X	5	1,704,300	APPRAISAL
16 Real estate—Commercial ..
17 Real estate—Other ...
18 Collectibles .....
19 Food inventory ...
20 Drugs and medical supplies .
21 Taxidermy ......
22 Historical artifacts ....
23 Scientific specimens ..
24 Archeological artifacts ...
25 Other ( medical equipment )	X	1	918,500	OTHER
26 Other ( animal equipment )	X	1	54,778	OTHER
27 Other ( piano )	X	1	30,000	OTHER
28 Other ( event hosting )	X	11	25,962	OTHER
Other ( travel hosting )	X	1	6,294	OTHER
Other ( horse )	X	1	4,800	OTHER
Other ( sailing equipment )	X	1	2,000	OTHER
Other ( gift cards )	X	10	1,017	OTHER
Other ( miscellaneous items )	X	6	818	OTHER
Other ( plants )	X	2	690	OTHER
Other ( game tickets )	X	1	78	OTHER
Other ( event supplies )	X	7	7	other
Other ( royalties )	X	6	6	other
Other ( life insurance policy )	X	1	1	other
Other ( postcards )	X	1	1	other

Number of Forms 8283 received by the organization during the tax year for contributions
for which the organization completed Form 8283, Part IV, Donee Acknowledgement ...

Yes

30a

During the year, did the organization receive by contribution any property reported in Part I, lines 1 through 28, that

it must hold for at least three years from the date of the initial contribution, and which is not required to be used

for exempt purposes for the entire holding period? ..................

30a

If "Yes," describe the arrangement in Part II.

Does the organization have a gift acceptance policy that requires the review of any non-standard contributions?

Yes

32a

Does the organization hire or use third parties or related organizations to solicit, process, or sell noncash

contributions? ..........................

32a

Yes

If "Yes," describe in Part II.

If the organization did not report an amount in column (c) for a type of property for which column (a) is checked,

describe in Part II.

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 51227J

Schedule M (Form 990) (2014)

Page 2

Part II

Supplemental Information. Provide the information required by Part I, lines 30b,
32b, and 33, and whether the organization is reporting in Part I, column (b), the number of contributions, the number of items received, or a combination of both. Also complete this part for any additional information.

Return Reference	Explanation
Schedule M, Part I, Column B	COLUMN B REPORTING EXPLANATION THE ORGANIZATION IS REPORTING NUMBER OF CONTRIBUTIONS IN COLUMN B OF SCHEDULE M, PART I.
Schedule M, Part I, Line 32	THIRD PARTIES AND NON-CASH CONTRIBUTIONS The University of Wisconsin Foundation hires real estate agents (at arm's length), as necessary, to sell real estate that is not transferred to the University of Wisconsin.

Schedule M (Form 990) (2014)

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet

Attach to Form 990 or 990-EZ.
MediumBullet

Information about Schedule O (Form 990 or 990-EZ) and its instructions is at
www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public
Inspection

Name of the organization

UNIVERSITY OF WISCONSIN FOUNDATION

Employer identification number

39-0743975

Return Reference	Explanation
Part III, Question 2	Significant Program Changes As of July 1, 2014, the Wisconsin Alumni Association merged with the University of Wisconsin Foundation. All of the activities, including membership dues, contributions, member programs, and alumni tours, are now conducted within the foundation. Part V, Question 4A & 4B FINANCIAL ACCOUNTS IN FOREIGN COUNTRIES: THE ORGANIZATION HAS EVALUATED ITS FOREIGN OFFSHORE INVESTMENT FUND HOLDINGS BASED ON RECENT IRS GUIDANCE AND IS NOT SUBJECT TO THE FILING OF FORM TD F 90-22.1 TO REPORT ITS INTERESTS IN FOREIGN FINANCIAL ACCOUNTS. THESE ACCOUNTS ARE FOREIGN OFFSHORE INVESTMENT FUND HOLDINGS AND DO NOT MEET THE DEFINITION OF FOREIGN MUTUAL FUNDS REQUIRING DISCLOSURE. Part VI, Section A, Question 2 Reportable Relationships: Susan S. Engeleiter and Michael S. Shannon - Family Relationship Paul S. Shain and Ted D. Kellner - business relationship Paul S. Shain, Ted D. Kellner, and Michael M. Knetter - business relationship
Part VI, Section A, Question 6	ORGANIZATION'S MEMBERS: ACCORDING TO UNIVERSITY OF WISCONSIN FOUNDATION BYLAWS, ARTICLE II. MEMBERS: "2.01. NUMBER. THE CORPORATION SHALL HAVE AT LEAST ONE HUNDRED (100) MEMBERS AND NO MORE THAN FIVE HUNDRED (500) MEMBERS, THE EXACT NUMBER TO BE DETERMINED FROM TIME TO TIME BY THE NUMBER OF PERSONS ELECTED TO MEMBERSHIP." "2.02. QUALIFICATIONS. MEMBERS SHALL BE NATURAL PERSONS. MEMBERSHIP SHALL BE PERSONAL TO A MEMBER AND NO MEMBERSHIP OR RIGHTS OF A MEMBER SHALL BE ASSIGNED OR TRANSFERRED IN ANY MANNER. IT SHALL NOT BE A CONDITION OF MEMBERSHIP THAT A PERSON SHALL HAVE BEEN A GRADUATE OR STUDENT OR FORMER STUDENT OF A UNIVERSITY OR COLLEGE, OR SHALL HAVE HELD ANY OFFICE, POSITION OR MEMBERSHIP IN ANY OTHER ORGANIZATION, PUBLIC OR PRIVATE."
Part VI, Section A, Question 7A	MEMBERS WHO MAY ELECT ONE OR MORE MEMBERS OF GOVERNING BODY: ACCORDING TO UNIVERSITY OF WISCONSIN FOUNDATION BYLAWS, ARTICLE II. MEMBERS: "2.09. NOTICE OF MEETING. WRITTEN NOTICE STATING THE DATE, TIME, AND PLACE OF THE MEETING AND, IN THE CASE OF A SPECIAL MEETING, THE PURPOSE OR PURPOSES FOR WHICH THE MEETING IS CALLED, SHALL BE GIVEN NOT LESS THAN FIVE (5) DAYS NOR MORE THAN FIFTY (50) DAYS BEFORE SUCH MEETING BY OR AT THE DIRECTION OF THE CHAIR, IF THE CHAIR CALLED THE MEETING, OR THE SECRETARY, IF THE BOARD OF DIRECTORS CALLED THE MEETING OR THE SECRETARY CALLED THE MEETING AT THE REQUEST OF MEMBERS, TO EACH MEMBER ENTITLED TO VOTE AT SUCH MEETING. NOTICE MAY BE GIVEN IN PERSON OR BY ANY RELIABLE MEANS OF COMMUNICATION PERMITTED BY WISCONSIN STATUTES, INCLUDING E-MAIL, FACSIMILE TRANSMISSION, OR CONVENTIONAL MAIL. IF MAILED, SUCH NOTICE SHALL BE DEEMED TO BE DELIVERED WHEN DEPOSITED IN THE UNITED STATES MAIL, ADDRESSED TO THE MEMBER AT HIS/HER ADDRESS AS IT APPEARS IN THE RECORDS OF THE CORPORATION WITH POSTAGE THEREON PREPAID." "2.10. QUORUM. TWENTY PERCENT (20%) OF THE MEMBERS ENTITLED TO VOTE, REPRESENTED IN PERSON OR BY PROXY, SHALL CONSTITUTE A QUORUM AT A MEETING OF THE MEMBERS. IF A QUORUM IS PRESENT, THE AFFIRMATIVE VOTE OF THE MAJORITY OF THE MEMBERS REPRESENTED AT THE MEETING AND ENTITLED TO VOTE ON THE SUBJECT MATTER SHALL BE THE ACT OF THE MEMBERS UNLESS THE VOTE OF A GREATER NUMBER IS REQUIRED BY LAW. THOUGH LESS THAN A QUORUM OF THE MEMBERS ARE REPRESENTED AT A MEETING, A MAJORITY OF THE MEMBERS SO REPRESENTED MAY ADJOURN THE MEETING FROM TIME TO TIME WITHOUT FURTHER NOTICE. AT SUCH ADJOURNED MEETING AT WHICH A QUORUM SHALL BE PRESENT OR REPRESENTED, ANY BUSINESS MAY BE TRANSACTED WHICH MIGHT HAVE BEEN TRANSACTED AT THE MEETING AS ORIGINALLY NOTIFIED." "2.12. VOTING OF MEMBERS. EACH MEMBER SHALL BE ENTITLED TO ONE VOTE UPON EACH MATTER SUBMITTED TO A VOTE AT A MEETING OF THE MEMBERS. THE AFFIRMATIVE VOTE OF A MAJORITY OF THE VOTES ENTITLED TO BE CAST BY MEMBERS PRESENT, IN PERSON OR BY PROXY, AT A MEETING AT WHICH A QUORUM IS PRESENT SHALL BE THE ACT OF THE MEMBERS, UNLESS A GREATER NUMBER OF VOTES IS REQUIRED BY LAW, THE ARTICLES OF INCORPORATION OR THESE BYLAWS."
Part VI, Section A, Question 7B	DECISIONS OF THE GOVERNING BODY SUBJECT TO APPROVAL BY MEMBERS: ACCORDING TO UNIVERSITY OF WISCONSIN FOUNDATION BYLAWS, ARTICLE VIII. AMENDMENTS: "8.01. BY MEMBERS. THESE BY-LAWS MAY BE ALTERED, AMENDED OR REPEALED AND NEW BY-LAWS MAY BE ADOPTED BY THE MEMBERS BY AFFIRMATIVE VOTE OF NOT LESS THAN A MAJORITY OF THE VOTES ENTITLED TO BE CAST BY THE MEMBERS PRESENT IN PERSON OR REPRESENTED BY PROXY AT A MEETING OF MEMBERS AT WHICH QUORUM IS PRESENT, UNLESS A GREATER VOTE IS REQUIRED BY LAW, THE ARTICLES OF INCORPORATION, OR THESE BYLAWS."
Part VI, Section B, Line 11B	PROCESS ORGANIZATION USES TO REVIEW FORM 990: THE FORM 990 IS PREPARED BY AN INDEPENDENT CERTIFIED PUBLIC ACCOUNTING FIRM IN COORDINATION WITH THE UNIVERSITY OF WISCONSIN FOUNDATION FINANCE DEPARTMENT. ONCE A DRAFT OF THE FORM 990 IS RECEIVED FROM THE INDEPENDENT CERTIFIED ACCOUNTING FIRM, REVIEW OF THE RETURN IS COMPLETED BY THE SENIOR DIRECTOR OF THE UNIVERSITY OF WISCONSIN FOUNDATION WHO HOLDS A MASTERS OF TAXATION DEGREE AND IS A CERTIFIED PUBLIC ACCOUNTANT. THE RETURN IS ALSO REVIEWED BY THE CHIEF FINANCIAL OFFICER AND/OR CONTROLLER OF THE UNIVERSITY OF WISCONSIN FOUNDATION. THE CERTIFIED PUBLIC ACCOUNTING FIRM MAKES ANY NECESSARY ADJUSTMENTS AND PROVIDES A REVISED RETURN. UPON RECEIPT OF A FINAL DRAFT THE RETURN IS REVIEWED BY THE AUDIT COMMITTEE OF THE UNIVERSITY OF WISCONSIN FOUNDATION PRIOR TO SIGNATURE AND FILING. PRIOR TO FILING THE FORM 990 IS PROVIDED ELECTRONICALLY OR IN PAPER FORM TO ALL BOARD MEMBERS FOR REVIEW. ISSUES OR QUESTIONS FROM BOARD MEMBERS REGARDING THE TAX RETURN ARE RESOLVED PRIOR TO FILING THE RETURN AND INCORPORATED INTO THE RETURN IF REQUIRED. IN THE EVENT THERE ARE CHANGES, A REVISED FINAL VERSION IS SENT TO ALL BOARD MEMBERS WITH DETAILED DESCRIPTIONS OF THE CHANGES.
Part VI, Section B, Question 12C	HOW ORGANIZATION MONITORS AND ENFORCES CONFLICT OF INTEREST POLICY: ALL OFFICERS, DIRECTORS, KEY EMPLOYEES, AND EMPLOYEES OF THE UNIVERSITY OF WISCONSIN FOUNDATION ARE COVERED UNDER THE FOUNDATION'S CONFLICT OF INTEREST POLICY. OFFICERS, DIRECTORS, KEY EMPLOYEES, AND EMPLOYEES ARE TO DISCLOSE INTERESTS THAT MAY LEAD TO A CONFLICT. OFFICERS, DIRECTORS, AND KEY EMPLOYEES COMPLETE AND SIGN A CONFLICT OF INTEREST QUESTIONNAIRE ANNUALLY. THE INTERESTED PARTY MUST FULLY DISCLOSE ANY POTENTIAL CONFLICTS AND COMPLETELY RECUSE HIM/HERSELF FROM THE DISCUSSION AND ANY RELATED VOTE.
Part VI, Section B, Questions 15A & 15B	PROCESS FOR DETERMINING COMPENSATION OF TOP MANAGEMENT: ANNUALLY THE COMPENSATION SUBCOMMITTEE OF THE BUDGET AND PERSONNEL COMMITTEE MEETS TO: 1) DETERMINE AND APPROVE THE PRESIDENT'S PAY, AND 2) REVIEW AND APPROVE THE PAY RECOMMENDATIONS MADE BY THE PRESIDENT FOR ALL OTHER OFFICERS. THE COMPENSATION SUBCOMMITTEE IS COMPOSED OF THE FOLLOWING MEMBERS OF THE BOARD: CHAIRMAN, VICE CHAIR, BUDGET AND PERSONNEL COMMITTEE CHAIR, AND SELECT OTHER BOARD MEMBERS. THE SUBCOMMITTEE REVIEWS SALARY SURVEYS ADMINISTERED BY PROFESSIONAL COMPENSATION CONSULTANTS THAT INCLUDE BIG TEN, BIG 12 AND OTHER UNIVERSITY FOUNDATIONS AND DEVELOPMENT DEPARTMENTS. THE SUBCOMMITTEE USES THIS MARKET DATA IN CONJUNCTION WITH INDIVIDUAL JOB PERFORMANCE AND THE FOUNDATION'S COMPENSATION PHILOSOPHY TO BE COMPETITIVE ON A NATIONAL BASIS FOR SIMILAR JOBS IN SIMILAR ORGANIZATIONS AS A BASIS FOR REVIEWING AND APPROVING ANY RECOMMENDATIONS. ACTIONS TAKEN ARE REFLECTED IN THE MINUTES OF EACH COMMITTEE MEETING. MINUTES ARE DISTRIBUTED, REVIEWED, AND OFFICIALLY APPROVED AT SUBSEQUENT MEETINGS.
Part IV, Section C, Line 19	HOW ORGANIZATION MAKES DOCUMENTS AVAILABLE TO THE PUBLIC Following Documents available on the organization's website at: www.supportuw.org/about-us/tax-legal/ -Restated Articles of Incorporation -By-Laws -Form 1023 Application for Exemption -IRS Tax Determination Letter -Audited Financial Statements -Form 990 -Form 990-T The conflict of interest policy is available upon request.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2014

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE R
(Form 990)

Department of the Treasury
Internal Revenue Service

Related Organizations and Unrelated Partnerships

Complete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
MediumBullet

Attach to Form 990.
MediumBullet

Information about Schedule R (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization

UNIVERSITY OF WISCONSIN FOUNDATION

Employer identification number

39-0743975

Part I

Identification of Disregarded Entities Complete if the organization answered "Yes" on Form 990, Part IV, line 33.

(a) Name, address, and EIN (if applicable) of disregarded entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Total income	(e) End-of-year assets	(f) Direct controlling entity

Part II

Identification of Related Tax-Exempt Organizations Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Exempt Code section	(e) Public charity status (if section 501(c)(3))	(f) Direct controlling entity	(g) Section 512(b)(13) controlled entity?
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Exempt Code section	(e) Public charity status (if section 501(c)(3))	(f) Direct controlling entity	Yes	No
(1) UW-MADISON SUPPORTING ORGANIZATION INC 1848 UNIVERSITY AVENUE MADISON,WI53726 39-1947636	SUPPORT ORG.	WI	501(c)(3)	11A TYPE I	UNIV WI FNTN	Yes
(2) THE EVJUE FOUNDATION INC PO BOX 8060 MADISON,WI53708 39-6073981	SUPPORT ORG	WI	501(c)(3)	11A TYPE 1	NA		No
(3) TERRY FAMILY FOUNDATION INC 6048 S HIGHLANDS AVE MADISON,WI53705 39-1831024	SUPPORT ORG	WI	501(c)(3)	11A TYPE 1	NA		No

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50135Y

Schedule R (Form 990) 2014

Page 2

Part III

Identification of Related Organizations Taxable as a Partnership Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a partnership during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(f) Share of total income	(g) Share of end-of-year assets	(h) Disproprtionate allocations?		(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	(j) General or managing partner?
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(f) Share of total income	(g) Share of end-of-year assets	Yes	No	(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	Yes	No

Part IV

Identification of Related Organizations Taxable as a Corporation or Trust Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(e) Type of entity (C corp, S corp, or trust)	(f) Share of total income	(g) Share of end-of-year assets	(h) Percentage ownership	(i) Section 512(b)(13) controlled entity?
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(e) Type of entity (C corp, S corp, or trust)	(f) Share of total income	(g) Share of end-of-year assets		Yes	No
(1) CHARITABLE REMAINDER UNITRUST - 117	TRUST	WI	UW FOUNDATION	TRUST
(2) CHARITABLE REMAINDER ANNUITY TRUST - 11	TRUST	WI	UW FOUNDATION	TRUST
(3) POOLED INCOME FUND A - 21	POOLED FUND	WI	UW FOUNDATION	TRUST
(4) POOLED INCOME FUND B - 8	POOLED FUND	WI	UW FOUNDATION	TRUST
(5) POOLED INCOME FUND D - 3	POOLED FUND	WI	UW FOUNDATION	TRUST
(6) Wisconsin Alumni Association Service Co 1848 university avenue madison,WI537264090 39-1168881	alumni	WI	uw foundation	c corp	544,685	336,971	100.000 %	Yes

Schedule R (Form 990) 2014

Page 3

Part V

Transactions With Related Organizations Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.

Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.

Yes

1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?

a Receipt of (i) interest, (ii) annuities, (iii) royalties, or (iv) rent from a controlled entity . . . . . . . . . . . . . . . . . . . . . . .

b Gift, grant, or capital contribution to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

c Gift, grant, or capital contribution from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

d Loans or loan guarantees to or for related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

e Loans or loan guarantees by related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

f Dividends from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

g Sale of assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

h Purchase of assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

i Exchange of assets with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

j Lease of facilities, equipment, or other assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . .

k Lease of facilities, equipment, or other assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . .

l Performance of services or membership or fundraising solicitations for related organization(s) . . . . . . . . . . . . . . . . . . . .

m Performance of services or membership or fundraising solicitations by related organization(s) . . . . . . . . . . . . . . . . . . . .

n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) . . . . . . . . . . . . . . . . . . . . .

Yes

o Sharing of paid employees with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

p Reimbursement paid to related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

q Reimbursement paid by related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

r Other transfer of cash or property to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

s Other transfer of cash or property from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.

(a) Name of related organization	(b) Transaction type (a-s)	(c) Amount involved	(d) Method of determining amount involved
(1) CHARITABLE REMAINDER UNITRUSTS - 1	S	1,176,456	CASH VALUE
(2) POOLED INCOME FUND A - 1	S	10,692	CASH VALUE
(3) POOLED INCOME FUND B - 1	S	27,228	CASH VALUE

Schedule R (Form 990) 2014

Page 4

Part VI

Unrelated Organizations Taxable as a Partnership Complete if the organization answered "Yes" on Form 990, Part IV, line 37.

Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.

(a) Name, address, and EIN of entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	(e) Are all partners section 501(c)(3) organizations?		(f) Share of total income	(g) Share of end-of-year assets	(h) Disproprtionate allocations?		(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	(j) General or managing partner?
(a) Name, address, and EIN of entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	Yes	No	(f) Share of total income	(g) Share of end-of-year assets	Yes	No	(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	Yes	No

Schedule R (Form 990) 2014

Page 5

Part VII

Supplemental Information

Provide additional information for responses to questions on Schedule R (see instructions).

Return Reference	Explanation
Schedule R, Part V, Lines 1M & 1N	TRANSACTIONS WITH RELATED ORGANIZATIONS THE UNIVERSITY OF WISCONSIN FOUNDATION SHARES FACILITIES, EQUIPMENT, AND PAID EMPLOYEES WITH THE UNIVERSITY OF WISCONSIN SUPPORTING ORGANIZATION; HOWEVER, THE EXACT DOLLAR AMOUNT OF SUPPORT PROVIDED IS NOT READILY DETERMINABLE.

Schedule R (Form 990) 2014

Additional Data

Software ID:
Software Version:

1	Was the organization a U.S. transferor of property to a foreign corporation during the tax year? If "Yes,"the organization may be required to file Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation (see Instructions for Form 926)......................................	Yes	No
2	Did the organization have an interest in a foreign trust during the tax year? If "Yes," the organization may be required to file Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts, and/or Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner (see Instructions for Forms 3520 and 3520-A; do not file with Form 990)............................	Yes	No
3	Did the organization have an ownership interest in a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 5471, Information Return of U.S. Persons with Respect to Certain Foreign Corporations. (see Instructions for Form 5471)..............................	Yes	No
4	Was the organization a direct or indirect shareholder of a passive foreign investment company or a qualified electing fund during the tax year? If “Yes,” the organization may be required to file Form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund. (see Instructions for Form 8621)...............................................	Yes	No
5	Did the organization have an ownership interest in a foreign partnership during the tax year? If "Yes," the organization may be required to file Form 8865, Return of U.S. Persons with Respect to Certain Foreign Partnerships. (see Instructions for Form 8865)....................................	Yes	No
6	Did the organization have any operations in or related to any boycotting countries during the tax year? If "Yes," the organization may be required to file Form 5713, International Boycott Report (see Instructions for Form 5713; do not file with Form 990).....................................	Yes	No