2025-04-03T12:28:00-05:00 2024-05-31 910189318 MOSS ADAMS LLP 21700 OXNARD ST STE 300 WOODLAND HILLS CA 91367 990 2023-06-01 952962604 CALIFORNIA LUTHERAN UNIVERSITY CALI 8054933181 60 WEST OLSEN ROAD MC 1200 THOUSAND OAKS CA 913602700 JOHN NUNES PRESIDENT 8054933181 2025-03-24 1 0 LAUREN A HAVERLOCK P00545829 8185771900 2025-03-24 2023 2025-03-06 01:10:19Z JOHN NUNES 60 WEST OLSEN ROAD M/C 1200 THOUSAND OAKS CA 913602700 328141979 0 X WWW.CALLUTHERAN.EDU X 1959 CA CLU IS AN INSTITUTION OFFERING UNDERGRADUATE AND GRADUATE DEGREES IN THE LIBERAL ARTS AND SCIENCES. 22 21 2362 60 401979 0 14350377 15050437 159849177 160149072 3715741 9034467 933261 902591 178848556 185136567 63895330 63498051 0 0 77008951 77183273 0 0 2432189 49664986 51849872 190569267 192531196 -11720711 -7394629 377672792 379668648 86453807 83589599 291218985 296079049 X CALIFORNIA LUTHERAN UNIVERSITY IS A SELECTIVE COMPREHENSIVE INSTITUTION OFFERING UNDERGRADUATE AND GRADUATE DEGREES IN THE LIBERAL ARTS AND SCIENCES AND PROFESSIONAL FIELDS. ROOTED IN THE LUTHERAN TRADITION OF CHRISTIAN FAITH, THE UNIVERSITY ENCOURAGES CRITICAL INQUIRY INTO MATTERS OF BOTH FAITH AND REASON. THE MISSION OF THE UNIVERSITY IS TO EDUCATE LEADERS FOR A GLOBAL SOCIETY WHO ARE STRONG IN CHARACTER AND JUDGMENT, CONFIDENT IN THEIR IDENTITY AND VOCATION, AND COMMITTED TO SERVICE AND JUSTICE. 0 0 116584603 63498051 136669964 HIGHER EDUCATION: PROVIDED QUALITY EDUCATION FOR UNDERGRADUATE STUDENTS AND GRADUATE STUDENTS. CALIFORNIA LUTHERAN UNIVERSITY OFFERS UNDERGRADUATE, GRADUATE AND CONTINUING EDUCATION PROGRAMS THROUGH ITS COLLEGE OF ARTS AND SCIENCES, SCHOOL OF MANAGEMENT, GRADUATE SCHOOL OF EDUCATION, GRADUATE SCHOOL OF PSYCHOLOGY AND PACIFIC LUTHERAN THEOLOGICAL SEMINARY. THE UNIVERSITY OFFERS 40 UNDERGRADUATE MAJORS AND 42 UNDERGRADUATE MINORS ARE OFFERED THROUGH OUR UNDERGRADUATE PROGRAMS. MASTER'S DEGREE PROGRAMS ARE OFFERED IN EDUCATION, BUSINESS ADMINISTRATION, PUBLIC POLICY AND ADMINISTRATION, COMPUTER SCIENCE, PSYCHOLOGY, INFORMATION SYSTEMS AND TECHNOLOGY, ECONOMICS, DIVINITY, ARTS, AND THEOLOGICAL STUDIES. THE UNIVERSITY OFFERS DOCTORAL PROGRAMS IN EDUCATIONAL LEADERSHIP, HIGHER EDUCATION LEADERSHIP, AND CLINICAL PSYCHOLOGY PH.D. 25129419 0 3632847 STUDENT SERVICES: THIS PROGRAM PROVIDES SUPPORT FOR STUDENT LIFE ACTIVITIES, ATHLETICS, STUDENT HEALTH AND OTHER SERVICES TO STUDENTS. 14981087 0 11582769 AUXILIARY OPERATION: IT IS CALIFORNIA LUTHERAN UNIVERSITY'S MISSION TO BE A RESIDENTIAL CAMPUS. THE MAJORITY OF THE TRADITIONAL UNDERGRADUATE STUDENT POPULATION RESIDES ON CAMPUS TO ATTEND EDUCATIONAL PROGRAMS. 13799690 0 8263492 HIGHER EDUCATION ACADEMIC SUPPORT DEPARTMENTS INCLUDE UNIVERSITY LIBRARY, COMPUTER & MEDIA LABS, AND FACULTY DEVELOPMENT PROGRAMS. PUBLIC SERVICE DEPARTMENTS INCLUDE THE DAY CARE CENTER, KCLU (PUBLIC RADIO STATION) AND EVENT SERVICES TO SERVE THE COMMUNITY. 13799690 0 8263492 170494799 1 1 0 1 0 0 0 1 0 1 1 0 0 0 1 1 0 1 1 0 1 0 0 0 1 0 0 0 1 1 1 1 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 5574 0 1 2362 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 22 21 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 CA X CALIFORNIA LUTHERAN UNIVERSITY ATTN BRIAN FAHNESTOCK 8054933181 60 WEST OLSEN ROAD M/C 1200 THOUSAND OAKS CA 913602700 VARLOTTA LORI PRESIDENT 40.00 0.30 X X 591359 0 165354 BOYNTON ANN - CHAIR (AS OF 09/23)/SECR (THRU 08/23) 1.00 0.00 X X 0 0 0 CAMARILLO BILL - VICE CHAIR (AS OF 09/23)/CHAIR (THRU 08/23) 1.00 0.00 X X 0 0 0 FOSTER RANDALL VICE CHAIR (THRU 08/23) 1.00 0.00 X X 0 0 0 DEFRANK TED SECR (AS OF 09/23)/BOARD MEMBER 1.00 0.00 X X 0 0 0 ANDERSON PHYLLIS BOARD MEMBER 1.00 0.00 X 0 0 0 BAUMHEFNER LINDA BOARD MEMBER 1.00 0.30 X 0 0 0 BESSEY REV JIM BOARD MEMBER 1.00 0.00 X 0 0 0 BINSLEY ANDREW BOARD MEMBER 1.00 0.00 X 0 0 0 BOYCE MARY BOARD MEMBER 1.00 0.00 X 0 0 0 DOWNS TRACY BOARD MEMBER 1.00 0.00 X 0 0 0 GILBERT ROD BOARD MEMBER (THRU 08/23) 1.00 0.30 X 0 0 0 GUPTA GITA BOARD MEMBER 1.00 0.00 X 0 0 0 GUTIERREZ ARNOLD BOARD MEMBER 1.00 0.00 X 0 0 0 HILL ANNE BOARD MEMBER 1.00 0.00 X 0 0 0 HILL LAUREEN BOARD MEMBER 1.00 0.30 X 0 0 0 HUTTERER DEBORAH BOARD MEMBER 1.00 0.00 X 0 0 0 IRWIN JON BOARD MEMBER (THRU 08/23) 1.00 0.00 X 0 0 0 JAECH RICHARD BOARD MEMBER 1.00 0.00 X 0 0 0 LUNDEEN-SMUCK SUSAN BOARD MEMBER 1.00 0.00 X 0 0 0 MCNEIL MALCOLM BOARD MEMBER 1.00 0.00 X 0 0 0 NEBENS CARRIE BOARD MEMBER 1.00 0.00 X 0 0 0 OGBECHIE NKEM BOARD MEMBER 1.00 0.30 X 0 0 0 PAPAGEORGE DEBRA BOARD MEMBER (THRU 09/23) 1.00 0.30 X 0 0 0 SOULES MIKE BOARD MEMBER 1.00 0.00 X 0 0 0 WOODS JR BOARD MEMBER 1.00 0.00 X 0 0 0 YSASI RICHARD - TREASURER VP, ADMINISTRATION & FINANCE 40.00 0.30 X 223274 0 20127 NEILSON LEANNE PROVOST/VP, ACADEMIC AFFAIRS 40.00 0.00 X 293415 0 35533 WARD MATTHEW VP, ENROLLMENT MANAGEMENT, MARKETING 40.00 0.00 X 252378 0 36430 APFELTHALER GERHARD DEAN, SCHOOL OF MANAGEMENT 40.00 0.00 X 248625 0 34573 BIDDINGS-MURO REGINA VP, UNIVERSITY ADVANCEMENT 40.00 0.30 X 241703 0 30728 VAN OMMEREN RYAN ASSOCIATE VP, FACILITY OPERATIONS 40.00 0.00 X 209158 0 31183 ROPER MELINDA VP, STUDENT AFFAIRS/DEAN OF STUDENTS 40.00 0.00 X 202158 0 26300 PARHAM PATRICIA - ASSISTANT VP, HUMAN RESOURCES (THRU 04/24) 40.00 0.00 X 194388 0 17852 HOLIGROCKI RICHARD DEAN, GRADUATE SCHOOL OF PSYCHOLOGY 40.00 0.00 X 217596 0 31945 MARSELIAN ZAREH CHIEF INFORMATION OFFICER 40.00 0.00 X 193972 0 26450 HILLIS MICHAEL DEAN, SCHOOL OF EDUCATION 40.00 0.00 X 191494 0 28651 VAIMAN VLAD PROFESSOR 40.00 0.00 X 191962 0 27935 OLSON MARY ASSOCIATE VP - KCLU BROADCAST 40.00 0.00 X 196055 0 15311 KIMBALL CHRIS FORMER PRESIDENT 40.00 0.00 X 153179 0 24284 WINDHAM-HUGHES COLLEEN FORMER FACULTY CHAIR/BOARD MEMBER 40.00 0.00 X 118442 0 28719 WEE ALLISON FORMER FACULTY CHAIR/BOARD MEMBER 40.00 0.00 X 106461 0 16927 BUCHANAN CRISTALLEA - FORMER VP TALENT/CULTURE/DIV (THRU 08/23) 40.00 0.00 X 142315 0 29992 3967934 0 628294 170 1 1 0 SODEXO INC 9801 WASHINGTON BLVD GAITHERSBURG MD 20878 FOOD SERVICES PROVIDER 5652462 CHRISTIE BUILDING AND DEVELOPMENT INC 1000 BUSINESS CTR CIR 102 NEWBURY PARK CA 91320 CONSTRUCTION 2613005 KIOSK CREATIVE LLC 750 GRANT AVE 200 NOVATO CA 94945 MEDIA PLANNING & BUYING 1298011 MCAULIFFE CONSTRUCTION 3435 E THOUSAND OAKS BLVD 7754 THOUSAND OAKS CA 91359 CONSTRUCTION 572137 LARRY RASMUSSEN INC 21 S CALIFORNIA ST FOURTH FL VENTURA CA 93001 CONSTRUCTION 327868 51 29590 28120 5731572 9261155 477245 15050437 TUITION AND FEES 611310 134489907 134489907 RESIDENT HALLS 721000 13438431 13438431 CAFETERIA 611310 6115131 6115131 EDUCATIONAL PROGRAMS 611310 1472518 1472518 AUXILIARY INCOME 721310 1342019 1342019 3291066 2558763 447379 284924 160149072 5867338 6091 5861247 1000000 46898 0 98389 1000000 -51491 948509 -51491 1000000 145968989 142801860 3167129 3167129 3167129 59245 29590 105163 -45918 -45918 185136567 159416769 401979 10267382 63498051 63498051 3737025 1510341 1955374 271310 503371 446192 57179 59417730 45118852 12788926 1509952 1895208 1478561 356782 59865 7224132 3857471 3174318 192343 4405807 3301559 982016 122232 1126145 692041 384527 49577 2754000 12800 2735455 5745 181698 181698 544626 544626 314862 288820 26042 903132 681450 215228 6454 8098624 4668463 3430161 3141210 328017 2809226 3967 6132606 2370380 3761555 671 2043013 1882551 146524 13938 626682 495927 128547 2208 2050030 1900129 149901 8007618 7458446 549172 1869803 49004 1820799 STUDENT DINING SERVICES 5335981 5203274 106992 25715 ALLOCATION OF DEPT EXP 0 19365481 -19365481 8719842 5886989 2664641 168212 192531196 170494799 19604208 2432189 59169 55875 43775407 62526196 6197338 4792706 3295581 919558 35000 25000 14540 21218 2332303 1977803 269293261 130180139 139055767 139113122 160958942 146229536 10634381 12408279 3505009 3793025 475000 475000 7334355 7331330 377672792 379668648 12675139 16675932 2212272 1990344 62224823 57103126 579587 617043 8761986 7203154 86453807 83589599 X 175004339 169223642 116214646 126855407 291218985 296079049 377672792 379668648 X -7394629 12113116 -81030 222607 X 0 1 X 1 1 1 X 19845989 20553893 24116378 14350377 15050437 93917074 19845989 20553893 24116378 14350377 15050437 93917074 6784228 87132846 1965779 1265857 1532901 4891455 6861247 16517239 72228 152180 11001 0 235409 110669722 796002290 0.78730 0.79700 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 0 0 0 0 0 190099007 190129297 190099007 190129297 1000000 1000000 250000 250000 0 0 0 0 1000000 1000000 1000000 1000000 4000000 6000000 2500 0 0 0 2500 250000 250000 250000 250000 1000000 1500000 0 167400 X 0 0 1 X 133747441 1989074 16046981 6799300 144984196 143062043 1297998 -3774520 6838080 133747441 145735309 1822237 780277 5275780 143062043 115516913 4641677 31785509 6208790 145735309 106630280 14938445 -718074 5333738 115516913 0.32790 0.48270 0.18940 1 1 1 2946661 2946661 186761979 80982112 105779867 48254531 28125644 20128887 23846627 18477833 5368794 7483463 2594550 4888913 139113122 LEASE LIABILITY 3909667 ANNUITIES PAYABLE 2993494 GOVERNMENT GRANTS REFUNDABLE 299993 7203154 X 130879165 12113116 -2321750 9791366 121087799 544626 63504142 64048768 185136567 125938071 203552 203552 125734519 544626 66252051 66796677 192531196 PART III, LINE 4: PAINTINGS AND SCULPTURES BY VARIOUS ARTISTS. PART IV, LINE 2B: DEPOSITS HELD IN TRUST FOR OTHERS REPRESENT GIFTS RECEIVED BY THE UNIVERSITY WHERE A PORTION OF THE GIFT BENEFITS OTHER NONPROFIT ORGANIZATIONS. THE UNIVERSITY PROVIDES INVESTMENT MANAGEMENT SERVICES FOR THOSE OTHER ORGANIZATIONS' ENDOWMENT OR RESERVE FUNDS. EACH ORGANIZATION'S INTEREST IS DETERMINED THROUGH A UNITIZATION PROCESS BASED ON THE FAIR VALUE OF THE ASSETS PLACED IN THE POOL BY EACH PARTICIPANT. INVESTMENT INCOME AND NET REALIZED AND UNREALIZED GAINS AND LOSSES ARE ALLOCATED EQUITABLY BASED ON THE NUMBER OF UNITS ASSIGNED TO EACH PARTICIPANT. A LIABILITY IS RECORDED AT THE ESTIMATED FAIR VALUE OF ASSETS DEPOSITED WITH THE UNIVERSITY. AT MAY 31, 2024, THE BALANCE THAT WAS HELD IN CUSTODY BY THE UNIVERSITY AMOUNTED TO $617,043. PART V, LINE 4: THE QUASI ENDOWMENT IS INTENDED TO SUPPLEMENT THE UNIVERSITY'S OPERATING FUNDS. PERMANENTLY AND TEMPORARILY (TERM) RESTRICTED ENDOWMENTS ARE DESIGNATED TO FUND SCHOLARSHIPS FOR STUDENTS, PROFESSORSHIPS, UNIVERSITY PROGRAMS, AND BUILDING MAINTENANCE. PART X, LINE 2: THE UNIVERSITY FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE CONSOLIDATED FINANCIAL STATEMENTS RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE UNIVERSITY FOR UNCERTAIN TAX POSITIONS AS OF MAY 31, 2024 AND 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 98,389. ACTUARIAL ADJUSTMENT 228,698. LEGAL SETTLEMENT -2,754,000. FUNDRAISING EVENT EXPENSES 105,163. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 63,498,051. UNRELATED BUSINESS INCOME FROM PARTNERSHIPS 6,091. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 98,389. FUNDRAISING EVENT EXPENSES 105,163. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 63,498,051. LEGAL SETTLEMENT 2,754,000. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE ORGANIZATION IS IN THE PROCESS OF ESTABLISHING THE RACIALLY NONDISCRIMINATORY POLICY ON THE HOME PAGE. IN THE MEANTIME, THE POLICY IS POSTED ON CLU'S WEBSITE AT THE FOLLOWING ADDRESS: HTTPS://WWW.CALLUTHERAN.EDU/DIVERSITY-INITIATIVE/POLICIES.HTML SCHEDULE E, PART I, LINE 6 FEDERAL AND LOCAL FINANCIAL AID AND GRANTS. EUROPE 0 0 PROGRAM SERVICES STUDY ABROAD 87669 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 1353677 EUROPE 0 0 INVESTMENTS 2546782 0 0 0 0 0 0 3988128 0 3988128 1 0 1 1 1 0 PART I, LINE 3: DIRECT COSTS HOMECOMING EVENT 45665 6380 39285 50345 1500 1288 CNL CELEBRATION 24000 19210 4790 5854 354 2 19170 4000 15170 20298 18766 6758 88835 29590 59245 20298 74965 1500 8400 105163 -45918 1 SCHOLARSHIPS, TUITION REDUCTION 2546 63498051 PART I, LINE 2: STUDENT SCHOLARSHIPS ARE IN THE FORM OF TUITION REDUCTION, WHICH IS APPLIED DIRECTLY AGAINST A STUDENT'S ACCOUNT TO ENSURE THAT IT IS USED FOR EDUCATIONAL PURPOSES. X X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 VARLOTTA LORI PRESIDENT 507056 0 0 0 84303 0 155635 0 9719 0 756713 0 0 0 NEILSON LEANNE PROVOST/VP, ACADEMIC AFFAIRS 289598 0 0 0 3817 0 25618 0 9915 0 328948 0 0 0 WARD MATTHEW VP, ENROLLMENT MANAGEMENT, MARKETING 251384 0 0 0 994 0 23681 0 12749 0 288808 0 0 0 APFELTHALER GERHARD DEAN, SCHOOL OF MANAGEMENT 234873 0 0 0 13752 0 20382 0 14191 0 283198 0 0 0 BIDDINGS-MURO REGINA VP, UNIVERSITY ADVANCEMENT 239639 0 0 0 2064 0 21469 0 9259 0 272431 0 0 0 HOLIGROCKI RICHARD DEAN, GRADUATE SCHOOL OF PSYCHOLOGY 204012 0 0 0 13584 0 16625 0 15320 0 249541 0 0 0 YSASI RICHARD - TREASURER VP, ADMINISTRATION & FINANCE 222926 0 0 0 348 0 19311 0 816 0 243401 0 0 0 VAN OMMEREN RYAN ASSOCIATE VP, FACILITY OPERATIONS 206560 0 0 0 2598 0 18742 0 12441 0 240341 0 0 0 ROPER MELINDA VP, STUDENT AFFAIRS/DEAN OF STUDENTS 200486 0 0 0 1672 0 17680 0 8620 0 228458 0 0 0 MARSELIAN ZAREH CHIEF INFORMATION OFFICER 192362 0 0 0 1610 0 16936 0 9514 0 220422 0 0 0 HILLIS MICHAEL DEAN, SCHOOL OF EDUCATION 189160 0 0 0 2334 0 15034 0 13617 0 220145 0 0 0 VAIMAN VLAD PROFESSOR 190295 0 0 0 1667 0 16408 0 11527 0 219897 0 0 0 PARHAM PATRICIA - ASSISTANT VP, HUMAN RESOURCES (THRU 04/24) 191401 0 0 0 2987 0 16478 0 1374 0 212240 0 0 0 OLSON MARY ASSOCIATE VP - KCLU BROADCAST 168996 0 25000 0 2059 0 14568 0 743 0 211366 0 0 0 KIMBALL CHRIS FORMER PRESIDENT 150969 0 0 0 2210 0 12289 0 11995 0 177463 0 0 0 BUCHANAN CRISTALLEA - FORMER VP TALENT/CULTURE/DIV (THRU 08/23) 141273 0 0 0 1042 0 14815 0 15177 0 172307 0 0 0 WINDHAM-HUGHES COLLEEN FORMER FACULTY CHAIR/BOARD MEMBER 118442 0 0 0 0 0 9580 0 19139 0 147161 0 0 0 WEE ALLISON FORMER FACULTY CHAIR/BOARD MEMBER 106075 0 0 0 386 0 8337 0 8590 0 123388 0 0 0 PART I, LINE 1A THE UNIVERSITY OWNS A PRESIDENTIAL RESIDENCE. BY CONTRACT, THE PRESIDENT IS REQUIRED TO LIVE IN THE RESIDENCE AND HOST REGULAR EVENTS FOR THE UNIVERSITY THROUGHOUT THE YEAR. THE UNIVERSITY PAYS THE EXPENSES FOR THE PRESIDENT'S RESIDENCE. PART OF THE UTILITIES EXPENSES WERE INCLUDED IN TAXABLE COMPENSATION. ALL OTHER EXPENSES WERE NOT TREATED AS TAXABLE COMPENSATION TO THE PRESIDENT. THE UNIVERSITY ALSO PAYS FOR THE PRESIDENT'S MEMBERSHIP TO THE LOCAL ROTARY CLUB. THE PRESIDENT ATTENDS FOR COMMUNITY SERVICE, OUTREACH, AND FUNDRAISING OPPORTUNITIES. THIS WAS NOT TREATED AS TAXABLE COMPENSATION TO THE PRESIDENT. PART I, LINE 4B LORI VARLOTTA, PRESIDENT PARTICIPATED IN TWO SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLANS. CONTRIBUTIONS OF $50,000 AND $100,000 WERE MADE IN 2023. A CALIFORNIA MUNICIPAL FINANCE AUTHORITY 201563466 13048VDW5 2018-08-16 87510724 SEE PART VI 0 0 0 A 23740000 88178117 4789375 795908 4999748 77612266 2020 1 0 0 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 1 1 A 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: CALIFORNIA MUNICIPAL FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 10/24/2023 SCHEDULE K, PART I, BOND ISSUES: (A) CALIFORNIA MUNICIPAL FINANCE AUTHORITY (F) TO FINANCE CAPITAL PROJECTS, CURRENT REFUND PRIOR OBLIGATIONS, AND PAY COSTS. PART I, COLUMN (F): THE BONDS WERE ISSUED TO FINANCE CAPITAL PROJECTS, CURRENT REFUND THE 2014AB TAX-EXEMPT LOAN (ISSUED ON DECEMBER 2, 2014) AND SERIES 2008 BONDS (ISSUED ON JULY 31, 2008), AND PAY COSTS OF ISSUANCE. PART I, COLUMN (E) AND PART II, LINE 3: THE DIFFERENCE BETWEEN THE ISSUE PRICE AND THE TOTAL PROCEEDS OF THE ISSUE IS INTEREST EARNED ON BOND PROCEEDS. PART III, LINE 7: AS PROVIDED IN TREASURY REGULATION SECTION 1.141-4(C)(2)(I)(B), THE AMOUNT OF PRIVATE PAYMENTS TAKEN INTO ACCOUNT UNDER THE PRIVATE PAYMENT TEST MAY NOT EXCEED THE AMOUNT OF PRIVATE BUSINESS USE AND/OR UNRELATED TRADE OR BUSINESS USE. ACCORDINGLY, THE AMOUNT OF PRIVATE PAYMENTS FOR THE REPORTING PERIOD DOES NOT EXCEED THE AMOUNT STATED IN PART III, LINE 6. THE ORGANIZATION HAS NOT UNDERTAKEN AN ANALYSIS OF THE PRIVATE SECURITY TEST WITH RESPECT TO THE BONDS, AS THE LEVEL OF PRIVATE BUSINESS USE AND/OR UNRELATED TRADE OR BUSINESS REPORTED IN PART III, LINE 6 IS NOT IN EXCESS OF AMOUNTS PERMITTED UNDER SECTION 145 OF THE INTERNAL REVENUE CODE. PART IV, LINE 2(B): THE CURRENT REFUNDING PORTION OF BONDS HAS MET THE 6-MONTH EXCEPTION TO REBATE. APFELTHALER GERHARD KEY EMPLOYEE HOUSING LOAN X 50000 25000 0 1 1 25000 X 10 112465 HIGH/LOW AVERAGE X RADIO STATION LICENSE 1 364780 APPRAISED VALUE 0 0 1 1 PART I, COLUMN (B): COLUMN (B) REPORTS THE NUMBER OF DONORS. PART I, LINE 32B: THE UNIVERSITY CONTRACTS WITH AN UNRELATED PUBLIC CHARITY THAT ASSISTS WITH VEHICLE DONATIONS. THE DONATED VEHICLES ARE NOT CONSIDERED CONTRIBUTIONS TO THE UNIVERSITY, BUT RATHER, THE UNIVERSITY RECEIVES THE NET PROCEEDS FROM THE SALES OF VEHICLES DONATED AND SOLD BY THE UNRELATED PUBLIC CHARITY WHERE THE DONORS IDENTIFY CALIFORNIA LUTHERAN UNIVERSITY OR KCLU AS THE BENEFICIARY. FORM 990, PART VI, SECTION A, LINE 1A THE BOARD OF REGENTS HAS AN EXECUTIVE COMMITTEE THAT HAS AUTHORITY TO ACT ON BEHALF OF THE BOARD OF REGENTS ON ALL MATTERS, EXCEPT FOR CERTAIN RESTRICTIONS LAID OUT IN THE BYLAWS FOR ALL COMMITTEES AND THE FOLLOWING WHICH ARE RESERVED FOR THE BOARD: (I) PRESIDENTIAL SELECTION AND TERMINATION; (II) CHARTER AND BYLAW AMENDMENT; (III) CHANGE IN THE CORPORATION'S MISSION; (IV) INCURRING CORPORATE INDEBTEDNESS; (V) APPROVAL OF THE ANNUAL BUDGET; AND (VI) CONFERRAL OF DEGREES. AT ALL TIMES, THE EXECUTIVE COMMITTEE SHALL BE COMPOSED OF NO FEWER THAN EIGHT MEMBERS OF THE FULL BOARD AND SHALL INCLUDE THE CHAIR OF THE BOARD, WHO WILL PRESIDE, THE VICE CHAIR OF THE BOARD (IF ANY), THE SECRETARY (IF A REGENT), THE PRESIDENT OF THE UNIVERSITY, AND THE CHAIR OF THE TRUSTEESHIP AND GOVERNANCE COMMITTEE. THE REMAINING POSITIONS WILL BE RECOMMENDED BY THE TRUSTEESHIP AND GOVERNANCE COMMITTEE TO BE ELECTED BY THE BOARD OF REGENTS. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE UNIVERSITY CONSIST OF UP TO 74 CONVOCATORS CONSISTING OF: (I) FIFTY MEMBERS FROM THE FIVE CONSTITUENT SYNODS, TEN MEMBERS PER SYNOD, INCLUDING THE BISHOP OF THAT SYNOD SHALL REPRESENT EACH SYNOD; (II) FIVE MEMBERS ELECTED AT-LARGE FOR THE PURPOSE OF REPRESENTING OTHER INTEREST GROUPS PERTINENT TO THE UNIVERSITY; (III) TEN MEMBERS SHALL REPRESENT THE SYNODS OF REGION I; (IV) ONE MEMBER SHALL BE THE PRESIDENT OF THE UNIVERSITY; (V) THE CONVOCATION MAY CHOOSE TO APPOINT UP TO THREE MEMBERS FROM THE FACULTY OF THE UNIVERSITY; (VI) THE CONVOCATION MAY CHOOSE TO APPOINT UP TO TWO MEMBERS FROM THE STAFF OF THE UNIVERSITY; (VII) THE CONVOCATION MAY CHOOSE TO APPOINT UP TO THREE MEMBERS WHO ARE STUDENTS OF THE UNIVERSITY INCLUDING ONE FROM THE ASSOCIATED STUDENTS OF CALIFORNIA LUTHERAN UNIVERSITY GOVERNMENT, ONE FROM THE GRADUATE AND PROFESSIONAL STUDENT COUNCIL, AND ONE FROM PLTS. FORM 990, PART VI, SECTION A, LINE 7A ALL REGENTS SHALL BE ELECTED EXCEPT FOR VOTING EX-OFFICIO REGENTS CONSISTING OF THE CHAIR OF THE CONVOCATION, THE PRESIDENT OF THE UNIVERSITY, THE CHAIR OF THE EVANGELICAL LUTHERAN CHURCH IN AMERICA (ELCA) REQUIRED ADVISORY BOARD, THE ALUMNI BOARD REPRESENTATIVE (WHO SHALL NEITHER BE EMPLOYED BY THE UNIVERSITY OR ANY UNIVERSITY-GRANT PROGRAM NOR ENROLLED AS A STUDENT OF THE UNIVERSITY), AND THE BISHOP ASSIGNED BY THE BISHOPS OF REGION II OF THE ELCA. FORM 990, PART VI, SECTION A, LINE 7B THE BOARD OF REGENTS MAY ADOPT, AMEND, OR REPEAL BYLAWS UNLESS DOING SO WOULD MATERIALLY AND ADVERSELY AFFECT THE CONVOCATORS' RIGHTS AS TO VOTING OR TRANSFER, SALE OR DISSOLUTION OF THE CORPORATION. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, ANY BYLAW AMENDMENT WHICH MATERIALLY AND ADVERSELY AFFECTS THE PROVISIONS OF THESE BYLAWS THAT GIVE VOTING RIGHTS OR SUBSTANTIVE OR PROCEDURAL PROTECTIONS FOR THE BENEFIT OF PLTS OR THE ADVISORY BOARD OF PLTS SHALL NOT BECOME EFFECTIVE UNTIL THE AMENDMENT HAS BEEN APPROVED BY THE CHURCH COUNCIL OF THE ELCA. THE BOARD OF REGENT'S POWER TO ADOPT, AMEND OR REPEAL BYLAWS IS ALSO SUBJECT TO THE FOLLOWING LIMITATIONS: (I) WHERE ANY PROVISION OF THESE BYLAWS REQUIRES THE VOTE OF A LARGER PROPORTION OF THE CONVOCATORS THAN OTHERWISE IS REQUIRED BY LAW, SUCH PROVISION MAY NOT BE ALTERED, AMENDED, OR REPEALED EXCEPT BY THE VOTE OF SUCH GREATER NUMBER; (II) NO AMENDMENT MAY EXTEND THE TERM OF A REGENT BEYOND THAT FOR WHICH SUCH REGENT WAS ELECTED; AND (III) IF BYLAWS ARE ADOPTED, AMENDED, OR REPEALED AT A MEETING OF THE BOARD, SUCH ACTION IS AUTHORIZED ONLY AT A DULY CALLED AND HELD MEETING FOR WHICH WRITTEN NOTICE OF SUCH MEETING, SETTING FORTH THE PROPOSED BYLAW REVISIONS WITH EXPLANATIONS, THEREFORE, IS GIVEN IN ACCORDANCE WITH THESE BYLAWS, UNLESS SUCH NOTICE IS WAIVED IN ACCORDANCE WITH THESE BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN OUTSIDE CPA FIRM AND REVIEWED BY THE CONTROLLER AND VICE PRESIDENT OF ADMINISTRATION & FINANCE. THE FORM 990 IS POSTED ON AN INTERNAL WEBSITE WITH ACCESS GIVEN TO ALL BOARD MEMBERS. THE BOARD OF REGENTS OF THE UNIVERSITY HAS DELEGATED THE FORMAL REVIEW TO THE ADMINISTRATION AND FINANCE COMMITTEE OF THE BOARD. AFTER THE ADMINISTRATION AND FINANCE COMMITTEE COMPLETE THEIR REVIEW, THE PRESIDENT OF THE UNIVERSITY SIGNS THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE UNIVERSITY REQUIRES ALL BOARD OF REGENTS, OFFICERS, FACULTY MEMBERS AND STAFF TO BE FAMILIAR WITH THE TERMS OF THE CONFLICT OF INTEREST POLICY; DISCLOSE TO THE BOARD SECRETARY ANY POSSIBLE PERSONAL, FAMILIAL, CLOSE OR BUSINESS RELATIONSHIPS THAT REASONABLY MIGHT GIVE RISE TO A CONFLICT INVOLVING THE UNIVERSITY; AND ACKNOWLEDGE BY HIS OR HER SIGNATURE THAT HE OR SHE IS IN ACCORDANCE WITH THE LETTER AND SPIRIT OF THIS POLICY. IN THE CASE OF OFFICERS AND OTHER DESIGNATED EMPLOYEES, AN ANNUAL DISCLOSURE WILL BE COMPLETED AND FILED WITH THE OFFICE OF THE VICE PRESIDENT FOR ADMINISTRATION AND FINANCE. EACH MEMBER OF THE STAFF AND FACULTY NOT COMPLETING AN ANNUAL AFFIRMATIVE STATEMENT MUST PROMPTLY REPORT ANY PERCEIVED OR ACTUAL CONFLICT OF INTEREST TO THEIR APPROPRIATE SENIOR ADMINISTRATOR. THE VICE PRESIDENT FOR ADMINISTRATION AND FINANCE SHALL REVIEW THE ANNUAL DISCLOSURE STATEMENTS OF OFFICERS AND DESIGNATED EMPLOYEES AND ANY REPORTED PERCEIVED OR ACTUAL CONFLICTS OF INTEREST. EXCEPTIONS WILL BE PROMPTLY REPORTED TO THE AUDIT COMMITTEE OF THE BOARD AT ITS NEXT MEETING. BOARD OF REGENTS SHALL REPORT TO THE SECRETARY OF THE BOARD OF REGENTS. AFTER DISCLOSURE, SUCH PERSONNEL SHALL LEAVE THE BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION FOR THE PRESIDENT IS ESTABLISHED BY THE BOARD OF REGENTS (THE BOARD). THE BOARD UTILIZED A HIGHER EDUCATION RECRUITING FIRM TO ANALYZE THE CURRENT MARKET COMPARISON DATA AND FIND QUALIFIED CANDIDATES. THE COMPENSATION COMMITTEE OF THE BOARD NEGOTIATED THE FINAL COMPENSATION PACKAGE BASED UPON THE CONSULTANT'S DATA AND THE EXPERIENCE LEVEL OF THE PRESIDENT. THE PROCESS IS DOCUMENTED IN THE BOARD'S MEETING MINUTES. THE COMPENSATION OF ALL THE VICE PRESIDENTS IS ESTABLISHED BY THE PRESIDENT AND IS BASED ON REGIONAL COMPENSATION MARKET DATA, INTERNAL DATA, AND JOB PERFORMANCE. COMPENSATION STUDIES ARE CONDUCTED BY THE HUMAN RESOURCES DEPARTMENT AND/OR OUTSIDE COMPENSATION CONSULTANTS. THE ASSISTANT VICE PRESIDENT FOR HUMAN RESOURCES PROVIDES THE PRESIDENT WITH THE MOST RECENT COMPENSATION STUDY PRIOR TO ANNUAL COMPENSATION INCREASES TO KEY OFFICERS. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: ACTUARIAL ADJUSTMENT 228,698. UNRELATED BUSINESS INCOME FROM PARTNERSHIPS -6,091. 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