2024-12-20T14:27:50-06:00 2024-05-31 390859910 BAKER TILLY ADVISORY GROUP LP 790 N WATER ST SUITE 2000 MILWAUKEE WI 53202 990 2023-06-01 420680351 WARTBURG COLLEGE WART 3193528411 100 WARTBURG BLVD WAVERLY IA 50677 RICHARD SEGGERMAN VP FINANCE & ADMINISTRATION 3193528411 2024-12-20 1 1 TROY MARINE CPA P00187863 4147775500 2024-12-19 2023 2024-10-15 13:58:12Z REBECCA EHRETSMAN 100 WARTBURG BLVD WAVERLY IA 50677 143471732 0 X WWW.WARTBURG.EDU X 1852 IA WARTBURG COLLEGE PROVIDES EDUCATIONAL PROGRAMS AND EXPERIENCES THAT CHALLENGE AND NURTURE STUDENTS FOR LIVES OF LEADERSHIP AND SERVICE AS A SPIRITED EXPRESSION OF THEIR FAITH AND LEARNING. 28 24 1806 500 341654 13815 5163017 14253992 83927281 90636684 3421495 3562470 126635 105869 92638428 108559015 42991468 47919970 0 0 28518255 29495221 0 0 1595675 27811453 28736053 99321176 106151244 -6682748 2407771 234139025 242981582 88104169 83243739 146034856 159737843 WARTBURG COLLEGE IS DEDICATED TO CHALLENGING AND NURTURING STUDENTS FOR LIVES OF LEADERSHIP AND SERVICE AS A SPIRITED EXPRESSION OF THEIR FAITH AND LEARNING. 0 0 63226061 47919970 71361422 INSTRUCTION OF STUDENTS ENROLLED AND THE RELATED ACADEMIC SUPPORT; 1,426 AND 1,350 FULL-TIME EQUIVALENT STUDENTS ENROLLED FOR FALL 2023 AND WINTER 2024 TERMS, RESPECTIVELY. 10096131 15607010 AUXILIARY SERVICES SUPPORT AND ENHANCE STUDENT LIFE BY PROVIDING QUALITY LIVING AND DINING OPTIONS AS WELL AS PROVIDING A CAMPUS STORE ON CAMPUS AND ONLINE; THERE WERE 1,154 AND 1,104 STUDENTS LIVING ON CAMPUS FOR THE FALL 2023 AND WINTER 2024 TERMS, RESPECTIVELY. 17064092 3139047 ALL OTHER PROGRAM RELATED SERVICES. 90386284 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 0 1 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 1 1 0 1 1 0 0 0 1 1 0 0 0 1 1843 0 1 1806 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 X 28 24 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 X CAROLYN HUGHES 3193528642 100 WARTBURG BLVD WAVERLY IA 506772215 REBECCA EHRETSMAN PRESIDENT 55.00 X X 334084 0 28308 DEBORA JOHNSON-ROSS VICE-PRESIDENT 55.00 X 154313 0 20943 SCOTT LEISINGER VICE-PRESIDENT 55.00 X 141736 0 29538 RICHARD SEGGERMAN VICE-PRESIDENT 55.00 X 132469 0 42177 RICK WILLIS VICE-PRESIDENT 55.00 X 129264 0 35057 GREG KNESER VICE-PRESIDENT 55.00 X 144867 0 18426 LEE NELSON FACULTY 40.00 X 102419 0 28953 DAN BLACK FACULTY 40.00 X 114608 0 13245 PENNI PIER FACULTY 40.00 X 102374 0 23335 BARB SCHULTZ INTERIM CHIEF INFORMATION OFFICER 55.00 X 67519 0 19045 MIKE MCCOY REGENT, CHAIRMAN - BOARD 15.00 X 0 0 0 ANDREA WESTMEYER REGENT, VICE CHAIR - BOARD 5.00 X 0 0 0 BARBARA GAMEZ REGENT, VICE CHAIR - BOARD 5.00 X 0 0 0 DR ANN ADAMS BULLOCK REGENT, VICE CHAIR - BOARD 5.00 X 0 0 0 DR DELFORD DOHERTY REGENT, VICE CHAIR - BOARD 5.00 X 0 0 0 MARK HANAWALT REGENT, VICE CHAIR - BOARD 5.00 X 0 0 0 RACHEL RIENSCHE REGENT, VICE CHAIR - BOARD 5.00 X 0 0 0 SHARON CORRIGAN REGENT, VICE CHAIR - BOARD 5.00 X 0 0 0 STEVE MEIRINK REGENT, VICE CHAIR - BOARD 5.00 X 0 0 0 ALICIA FAUST REGENT 2.00 X 0 0 0 AMY KILGUS CHAMLEY REGENT 2.00 X 0 0 0 BEN SHANNO REGENT 2.00 X 0 0 0 DR MARILYN FLACHMAN REGENT 2.00 X 0 0 0 FELECIA BOONE REGENT 2.00 X 0 0 0 GREG SCHMITZ REGENT 2.00 X 0 0 0 JEN BYE CHRISTY REGENT 2.00 X 0 0 0 JIM BUCHHEIM REGENT 2.00 X 0 0 0 JIM LOVERIDGE REGENT 2.00 X 0 0 0 KERRI BLOBAUM REGENT 2.00 X 0 0 0 LIZ MATHIS REGENT 2.00 X 0 0 0 MIKE MURPHY REGENT 2.00 X 0 0 0 REVEREND AMY CURRENT REGENT 2.00 X 0 0 0 REVEREND DR SHERMAN HICKS REGENT 2.00 X 0 0 0 REVEREND KEVIN JONES REGENT 2.00 X 0 0 0 RUTH BAHE-JACHNA REGENT 2.00 X 0 0 0 STEVE MEIRINK REGENT 2.00 X 0 0 0 TAMMY JACKSON REGENT 2.00 X 0 0 0 1423653 0 259027 9 0 1 0 CARDINAL CONSTRUCTION INC 1246 MARTIN ROAD WATERLOO IA 50701 CONSTRUCTION SERVICES 3153738 EAB GLOBAL INC 1920 E PARHAM ROAD RICHMOND VA 232282206 STUDENT MARKETING SERVICES 873259 FBG SERVICE CORPORATION 407 S 27TH AVE OMAHA NE 681313699 CLEANING SERVICES 411353 HAWKEYE STAGES 703 DUDLEY STREET DECORAH IA 521012499 BUS CHARTER 390519 AMPERAGE MARKETING & FUNDRAISING 6711 CHANCELLOR DR CEDAR FALLS IA 506136969 MARKETING CONSULTANT 381849 13 476933 13777059 5567972 14253992 TUITION & FEES 611310 71361422 71361422 AUXILIARY ENTERPRISES 611710 15973885 15607010 366875 CAMPUS GROUPS 541900 2109766 2109766 OTHER PROGRAMS 541900 1151348 989018 162330 PRINT CENTER INCOME 561439 40263 40263 90636684 2592070 -46058 2638128 175283 175283 182846 97814 85032 85032 85032 35610020 34630327 184576 979693 -184576 795117 795117 CROP SHARE INCOME 541900 17545 17545 STUDENT CENTER INCOME 561439 3292 3292 20837 108559015 90107479 341654 3855890 47919970 47919970 1220280 338552 637934 243794 21585567 19342987 1593585 648995 1060932 940719 78325 41888 4132608 3666015 305096 161497 1495834 1325013 110432 60389 65400 63600 1800 94173 94173 5352 5352 840000 840000 1459289 1275923 107734 75632 532310 493011 39299 815750 699073 60223 56454 1590425 1192819 397606 2586042 2395025 190918 99 1478278 1249163 109136 119979 95995 88908 7087 3419686 3419686 5722237 5722237 683362 510077 50450 122835 FOOD PURCHASES & BOOKST 2643914 2643914 CAMPUS GROUPS & MAY TER 2147040 2147040 SERVICE AGREEMENTS 1054844 976904 77875 65 TAXES 450 450 3501506 3181171 258087 62248 106151244 90386284 14169285 1595675 19171076 15656253 780000 2450000 2616944 2071502 864434 347109 252263 243206 1479429 1116875 180371091 75408600 102994785 104962491 80267764 79819811 22778489 33574460 2933841 2739875 234139025 242981582 6819445 5521831 1300468 749220 4999421 4793996 69796653 67115019 2000000 2000000 3188182 3063673 88104169 83243739 X 55509051 61817156 90525805 97920687 146034856 159737843 234139025 242981582 2407771 11295216 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 1 5352 0 0 0 5352 0 PART II-B, LINE 1: THE COLLEGE PAYS MEMBERSHIP DUES TO VARIOUS ORGANIZATIONS, SOME PORTION OF WHICH MAY BE USED FOR LOBBYING IN CONNECTION WITH ISSUES THAT IMPACT HIGHER EDUCATION. 46375 120525 X X 0 89156933 4041533 12298550 2256592 3347590 99892834 93776556 2076006 -1086206 2145698 3463725 89156933 98651131 4281956 -4190109 1941391 3025031 93776556 77070792 4175697 21631013 1779988 2446383 98651131 76014381 2784592 2339891 1657941 2410131 77070792 0.11000 0.89000 0 0 595000 3989276 4584276 155656534 63610853 92045681 8947683 4983669 3964014 11182598 6814078 4368520 104962491 FUND OF HEDGE FUNDS 30151940 F CSV - LIFE INSURANCE 3367227 F OTHER INVESTMENTS 55293 F 33574460 STUDENT DEPOSITS 1024946 ANNUITIES PAYABLE 946336 DEPOSITS HELD IN CUSTODY 128630 ASSET RETIREMENT OBLIGATION 425127 LEASE LIABILITY 538634 3063673 X 71409357 11295216 11295216 60114141 840000 47604874 48444874 108559015 57706370 315096 315096 57391274 840000 47919970 48759970 106151244 PART III, LINE 4: THE COLLEGE DOES NOT HAVE A SIGNIFICANT ART COLLECTION. THE ITEMS THAT ARE HELD ARE USED FOR EDUCATIONAL PURPOSES IN VARIOUS COURSES AND FOR THE BENEFIT OF THE GENERAL PUBLIC. PART V, LINE 4: THE COLLEGE'S ENDOWMENT FUNDS ARE USED TO SUPPORT THE EDUCATIONAL AND OTHER SUPPORT SERVICES PROVIDED TO THE STUDENT BODY. PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IT IS ALSO EXEMPT FROM STATE INCOME TAX. HOWEVER, ANY UNRELATED BUSINESS INCOME MAY BE SUBJECT TO TAXATION. THE COLLEGE DID NOT HAVE ANY MATERIAL UNRELATED BUSINESS INCOME DURING THE YEAR. THE COLLEGE FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THE GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT 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 COLLEGE FOR UNCERTAIN TAX POSITIONS AS OF MAY 31, 2024 AND 2023. THE COLLEGE'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: ACTUARIAL ADJUSTMENTS -32,706. RENTAL EXPENSES -97,814. FINANCIAL AID 47,919,970. LOSS ON SALE OF FIXED ASSETS REPORTED ON F/S -184,576. PART XII, LINE 2D - OTHER ADJUSTMENTS: ACTUARIAL ADJUSTMENTS 32,706. RENTAL EXPENSES 97,814. LOSS ON SALE OF FIXED ASSETS REPORTED ON F/S 184,576. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 47,919,970. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE COLLEGE FOLLOWS A NONDISCRIMINATORY POLICY REGARDING ALL PROGRAMS. ENROLLMENT OF STUDENTS IS WITHOUT DISCRIMINATION AS TO RACE, SEX, COLOR, SEXUAL ORIENTATION, HANDICAP, OR NATIONAL ORIGIN AND IS PUBLISHED IN THE COLLEGE'S CATALOG, AND THE COLLEGE'S WEBSITE. RECRUITMENT PROCEDURES ARE DESIGNED AND CARRIED OUT TO REACH ALL RACIAL SEGMENTS IN THE GEOGRAPHICAL AREA SERVED BY THE COLLEGE. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FINANCIAL ASSISTANCE FROM THE U.S. GOVERNMENT IN CONNECTION WITH VARIOUS PROGRAMS SUCH AS THE PELL GRANT PROGRAM, TEACHER EDUCATION ASSISTANCE FOR COLLEGE AND HIGHER EDUCATION GRANT PROGRAM, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (SEOG) AND FEDERAL WORKSTUDY PROGRAM. THE COLLEGE ALSO RECEIVES SUPPORT FROM THE STATE OF IOWA THROUGH THEIR TUITION GRANT PROGRAM AND OTHER RELATED STATE PROGRAMS. EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 PROGRAM SERVICES SEE PART V 491094 SOUTH AMERICA 0 0 PROGRAM SERVICES SEE PART V 111059 EAST ASIA & PACIFIC 0 0 PROGRAM SERVICES SEE PART V 15526 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES SEE PART V 12024 CENTRAL AMERICA & THE CARIBBEAN 0 0 PROGRAM SERVICES SEE PART V 8480 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 PROGRAM SERVICES SEE PART V 3383 0 0 0 0 0 0 641566 0 641566 1 0 0 0 1 0 SCHEDULE F, PART I, LINE 3 - COLUMN (E): LINE 1 - INSTRUCTION, STUDENT SERVICES LINE 2 - INSTRUCTION LINE 3 - INSTRUCTION LINE 4 - INSTRUCTION, STUDENT SERVICES LINE 5 - INSTRUCTION LINE 6 - ACADEMIC SUPPORT FORM 990, SCHEDULE F, PART IV: WARTBURG COLLEGE INVESTS IN DOMESTIC AND FOREIGN LIMITED PARTNERSHIPS THAT MAY OWN AN INTEREST IN A FOREIGN CORPORATION, PASSIVE FOREIGN INVESTMENT COMPANY, OR FOREIGN PARTNERSHIP. NEVERTHELESS, WARTBURG COLLEGE'S INVESTMENT ACTIVITIES MAY NOT REACH THE THRESHOLDS REQUIRED FOR FILING THE FORMS 926, 5471, 8621, 8865. TO THE EXTENT THAT WARTBURG COLLEGE IS REQUIRED TO COMPLETE ONE OF THESE FOREIGN FORMS, IT HAS BEEN FILED WITH THE ANNUAL FORM 990-T. 1 INSTITUTIONAL SCHOLARSHIPS AND GRANTS 1412 2751641 45012584 TUITION DISCOUNTING INSTITUTIONAL SCHOLARSHIPS AND GRANTS ARE USED AS A DIRECT REDUCTION OF THE TUITION THAT EACH FULL-TIME STUDENT IS REQUIRED TO PAY. SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT 330 155745 FAIR MARKET VALUE SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT (SEOG) IS A FEDERAL GRANT THAT IS AWARDED BY THE COLLEGE TO QUALIFIED STUDENTS IN ORDER TO REDUCE THE COST THE STUDENT MUST PAY FOR THEIR EDUCATION. PART I, LINE 2: THE COLLEGE PROVIDES GRANTS AND SCHOLARSHIPS TO ITS FULL-TIME, DEGREE SEEKING STUDENTS, BY CREDITING SUCH AMOUNTS DIRECTLY TO THEIR STUDENT ACCOUNTS, TO BE ONLY USED AS AN OFFSET FOR TUITION. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 REBECCA EHRETSMAN PRESIDENT 305509 0 0 0 28575 0 18450 0 9858 0 362392 0 0 0 DEBORA JOHNSON-ROSS VICE-PRESIDENT 151374 0 0 0 2939 0 9351 0 11592 0 175256 0 0 0 SCOTT LEISINGER VICE-PRESIDENT 139289 0 0 0 2447 0 8985 0 20553 0 171274 0 0 0 RICHARD SEGGERMAN VICE-PRESIDENT 129713 0 0 0 2756 0 8666 0 33511 0 174646 0 0 0 RICK WILLIS VICE-PRESIDENT 127245 0 0 0 2019 0 8241 0 26816 0 164321 0 0 0 GREG KNESER VICE-PRESIDENT 140809 0 0 0 4058 0 8568 0 9858 0 163293 0 0 0 PART I, LINE 1A AS A CONDITION OF EMPLOYMENT, PRESIDENT EHRETSMAN IS REQUIRED TO OCCUPY AND USE THE PRESIDENT'S HOME AT THE COLLEGE, IN THE PERFORMANCE OF HER DUTIES. THE COLLEGE PAYS FOR MAINTENANCE AND UPKEEP OF THE HOME. MAJOR REPAIRS, RENOVATIONS, OR PHYSICAL IMPROVEMENTS ARE SUBJECT TO BOARD APPROVAL BEFORE THEY ARE UNDERTAKEN. PRESIDENT EHRETSMAN IS RESPONSIBLE FOR INSURING ANY PERSONAL PROPERTY OWNED BY HER THAT IS LOCATED IN THE HOME. PRESIDENT EHRETSMAN AND THE PRESIDENT'S SENIOR LEADERSHIP TEAM ARE GRANTED MEMBERSHIP TO THE COLLEGE'S WELLNESS CENTER AT REDUCED COST, THE SAME ARRANGEMENT AVAILABLE TO ALL EMPLOYEES OF THE COLLEGE. THE VALUE OF THE MEMBERSHIP REDUCTION IS $300 PER YEAR, AND IS A TAXABLE FRINGE BENEFIT. A IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 4624603P9 2015-03-24 85845606 SEE PART VI 0 0 0 A 18000000 85845606 6649863 1715989 2024 84084286 2008 1 0 1 1 A 0 1 0 0 0.01600 0.01600 0 0 1 A 0 0 1 1 0 0 0 0 1 A 1 SCHEDULE K, PART 1, COLUMN F - LINE A: REFUND PRIOR ISSUES (12/29/05 - BOTH) SCHEDULE K, PART II, LINE 3: THE TOTAL PROCEEDS DO NOT EQUAL THE SUMMATION OF LINES 4-12 DUE TO TRANSFERRED OR REPLACEMENT PROCEEDS IN LINE 4. SCHEDULE K, PART IV, ARBITRAGE, LINE 2C: (A) ISSUER NAME: IOWA HIGHER EDUCATION LOAN AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 02/28/2020 DISCLOSURE SUBJECT TO FERPA LAWS 122895 MERIT SCHOLARSHIPS STUDENT FINANCIAL AID CHRISTINA HOFFMAN FAMILY MEMBER OF SHARON CORRIGAN, REGENT 4277 EMPLOYED PART-TIME IN DINING SERVICES. REPORTS TO VICE PRESIDENT OF STUDENT AFFAIRS. REGENTS HAVE NO CONTROL OF WAGES FOR PART-TIME EMPLOYEES. 0 ALEX BUCHHEIM FAMILY MEMBER OF JIM BUCHHEIM, REGENT 44000 EMPLOYED IN ALUMNI. REPORTS TO VICE PRESIDENT OF INSTITUATIONAL ADVANCEMENT. REGENTS HAVE NO CONTROL OF INDIVIDUAL EMPLOYEE WAGES. 0 TYLER WILLIS FAMILY MEMBER OF RICK WILLIS, VICE PRESIDENT 17119 EMPLOYED IN ATHLETICS. REPORTS DIRECTLY TO DIRECTOR OF ATHLETICS. DIRECTOR OF HUMAN RESOURCES PROVIDES OVERSIGHT ON ALL FINAL COMPENSATION DECISIONS. 0 X 2 42755 FAIR MARKET VALUE X 1 23069 FAIR MARKET VALUE X 15 377368 NET SELLING PRICE X 1 9780 FAIR MARKET VALUE X 1 5115000 FAIR MARKET VALUE 19 0 1 0 PART I, COLUMN (B): THE AMOUNT IN COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION A, LINE 6 PER THE ARTICLES OF INCORPORATION, THE MEMBERS OF THE WARTBURG COLLEGE CORPORATION ARE (A) THE MEMBERS OF THE CHURCH WIDE ASSEMBLY OF THE EVANGELICAL LUTHERAN CHURCH IN AMERICA (ELCA), (B) THE OFFICERS OF THE ELCA, (C) THE EXECUTIVE DIRECTOR OF THE UNIT OF THE ELCA WITH RESPONSIBILITY FOR RELATIONSHIPS WITH COLLEGES OF THE ELCA, (D) THE MEMBERS OF THE BOARD, AND (E) SUCH ADDITIONAL PERSONS AS PROVIDED IN THE BYLAWS OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A PER THE BYLAWS, THE BOARD OF REGENTS HAS BOTH EX OFFICIO AND ELECTED MEMBERS. 1. THREE EX OFFICIO MEMBERS WHO SERVE BY VIRTUE OF THEIR POSITIONS FOR SO LONG AS THEY HOLD SUCH POSITIONS: (A) THE COLLEGE PRESIDENT (ELECTED BY THE BOARD OF REGENTS) AND (B) THE ALUMNI BOARD PRESIDENT AND ALUMNI BOARD PRESIDENT-ELECT (BOTH ELECTED BY THE COLLEGE'S ALUMNI BOARD). 2. THE ELECTED MEMBERS ARE ELECTED BY THE BOARD OF REGENTS. FORM 990, PART VI, SECTION A, LINE 7B AMENDMENTS TO THE ARTICLES OF INCORPORATION ARE SUBJECT TO APPROVAL OF THE BOARD OF REGENTS AND TO SUBSEQUENT RATIFICATION BY THE MEMBERS OF THE CORPORATION FORM 990, PART VI, SECTION B, LINE 11B THE COLLEGE PROVIDES PRELIMINARY TAX RETURN INFORMATION VIA SELECTED WORKPAPERS AND A SPECIALIZED TEMPLATE TO THE AUDIT FIRM. THE AUDIT FIRM THEN USES SPECIALIZED PROPRIETARY 990 TAX FORM SOFTWARE TO PERFORM DIAGNOSTICS AND PREPARE A DRAFT OF THE FORM 990 BASED ON INFORMATION PROVIDED TO THEM AND THEIR KNOWLEDGE OF HOW TO COMPLETE THE 990. AFTER RECEIVING THE DRAFT FORM 990 FROM THE AUDIT FIRM, PERSONNEL FROM THE BUSINESS OFFICE REVIEW THE DRAFT, RECONCILING INFORMATION BACK TO SUPPORTING WORK PAPERS WHERE POSSIBLE AND REVIEWING OTHER INFORMATION FOR COMPLETENESS, ACCURACY, CONSISTENCY, AND REASONABLENESS. NEXT, THE PRESIDENT'S SENIOR LEADERSHIP TEAM AND THE BOARD'S AUDIT COMMITTEE MEMBERS REVIEW THE DRAFT OF THE FORM 990 FOR COMPLETENESS, ACCURACY, CONSISTENCY, AND REASONABLENESS. FEEDBACK FROM ALL REVIEW IS FORWARDED TO THE AUDIT FIRM, AND THE FORM 990 IS UPDATED ACCORDINGLY. A COPY OF THE FORM 990 (WITH DONOR NAMES REMOVED) IS POSTED TO THE SECURE, CONFIDENTIAL BOARD OF REGENTS WEB SITE, AND AN EMAIL IS SENT TO ALL BOARD MEMBERS NOTIFYING THEM THAT THE 990 IS AVAILABLE FOR REVIEW. FEEDBACK PROVIDED FROM THE BOARD MEMBERS IS REVIEWED AND DISCUSSED WITH INDIVIDUAL BOARD MEMBERS AS NECESSARY AND APPROPRIATE. ALL FEEDBACK THAT REQUIRES A SIGNIFICANT CHANGE TO THE FORM 990 IS PROVIDED IN A SUMMARY FASHION TO ALL BOARD MEMBERS, TO ALLOW ADDITIONAL FEEDBACK OR COMMENTS. THE FINAL APPROVED FEEDBACK IS GIVEN TO THE AUDIT FIRM TO INCORPORATE IN THE FINAL FORM 990. THE BOARD RECEIVES THE FINAL FORM 990 PRIOR TO IT BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED, UPDATED, AND APPROVED ANNUALLY BY THE BOARD. BOARD MEMBERS AND KEY EMPLOYEES ARE REMINDED OF THEIR RESPONSIBILITY TO FOLLOW THE CONFLICT OF INTEREST POLICY. BUSINESS OFFICE PERSONNEL ARE FAMILIAR WITH THE VENDORS USED BY THE COLLEGE AND WOULD FOLLOW THE CONFLICT OF INTEREST POLICY IF THERE WERE ANY POTENTIAL TRANSACTIONS THAT WOULD FALL WITHIN THE SCOPE OF THAT POLICY. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF REGENTS ESTABLISHES COMPENSATION FOR THE PRESIDENT INITIALLY AND ANNUALLY, APPLYING ALL ELEMENTS NOTED IN THIS LINE'S QUERY. THE COMPARATOR GROUP IS LIMITED TO LIBERAL ARTS COLLEGES WITH COMPARABLE ENROLLMENTS, INCLUDING OTHER ELCA RELATED COLLEGES. THE PRESIDENT ESTABLISHES COMPENSATION FOR THE PRESIDENT'S SENIOR LEADERSHIP TEAM INITIALLY AND ANNUALLY, APPLYING ALL ELEMENTS NOTED IN THIS LINE'S QUERY. THE COMPARATOR GROUP IS LIMITED TO LIBERAL ARTS COLLEGES WITH COMPARABLE ENROLLMENTS, INCLUDING OTHER ELCA-RELATED COLLEGES. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. KNIGHTS ENTERPRISES LLC 700 WALNUT STREET SUITE 1600 DES MOINES IA 50677 883452573 TO ENGAGE IN ANY LAWFUL BUSINESS OR ACTIVITY IA WARTBURG COLLEGE C -18298 46987 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0