2025-04-14T16:54:57-05:00 2024-05-31 390859910 BAKER TILLY ADVISORY GROUP LP 225 S 6TH ST 2300 MINNEAPOLIS MN 55402 990 2023-06-01 420680466 LUTHER COLLEGE LUTH 5633871015 700 COLLEGE DRIVE DECORAH IA 52101 PATRICIA S HETRICK VP FOR FINANCE & ADMIN. 5633871507 2025-04-11 1 1 KAREN A GRIES P00078514 6128764500 2025-04-11 2023 2025-03-06 01:10:19Z BRADLEY M CHAMBERLAIN 700 COLLEGE DRIVE DECORAH IA 52101 138082604 0 X WWW.LUTHER.EDU X 1865 IA ON A CAMPUS OF MORE THAN 800 ACRES ALONG THE BANKS OF THE UPPER IOWA RIVER IN DECORAH, IOWA, LUTHER IS A TRUE RESIDENTIAL CAMPUS, WITH 97 PERCENT OF STUDENTS LIVING ON CAMPUS AND NEARLY 95 PERCENT OF FACULTY CHOOSING TO LIVE WITHIN FIVE MILES OF IT. LUTHER'S STUDENT BODY INCLUDES 1,442 MEN AND WOMEN (46 PERCENT AND 54 PERCENT, RESPECTIVELY) FROM 40 STATES AND 61 FOREIGN COUNTRIES. U.S. STUDENTS OF COLOR CONSTITUTE 13.0 PERCENT OF THE STUDENT BODY. APPROXIMATELY 70 PERCENT OF LUTHER STUDENTS VOLUNTEER DURING THEIR TIME HERE, EXHIBITING THE HIGH SERVICE ETHIC INTRINSIC TO LUTHER CULTURE. THE COLLEGE STRIVES TO BE A PLACE WHERE PEOPLE OF ALL CONVICTIONS CAN REALIZE PERSONAL, INTELLECTUAL, AND SPIRITUAL GROWTH. 25 24 1910 565 15017 54 10722779 23411995 94629525 90582740 5645063 16207964 2229114 1959314 113226481 132162013 51226844 49711492 0 0 37321809 36979160 0 0 3779047 31838061 31457672 120386714 118148324 -7160233 14013689 305906835 326653053 39077338 35057677 266829497 291595376 X FOUNDED BY THE NORWEGIAN EVANGELICAL LUTHERAN CHURCH IN 1861, LUTHER COLLEGE IS A FOUR-YEAR, RESIDENTIAL LIBERAL ARTS INSTITUTION. LUTHER WELCOMES STUDENTS OF ALL BACKGROUNDS TO ENGAGE IN A WAY OF LEARNING THAT MOVES BEYOND IMMEDIATE INTERESTS AND ENCOURAGES STUDENTS TO BUILD A LIFE OF CONSEQUENCE. AT THE HEART OF A LUTHER EDUCATION IS AN UNDERSTANDING OF THE WAY FAITH AND LEARNING INTERSECT AND IN TURN CONNECT STUDENTS TO THE LARGER WORLD. LUTHER OFFERS MORE THAN 80 MAJORS, MINORS, AND PREPROFESSIONAL PROGRAMS. 0 0 74976238 49711492 72324838 INSTRUCTION: LUTHER OFFERS 39 MAJORS, 40 MINORS AND INTERDISCIPLINARY MINORS, AND 4 PREPROFESSIONAL AND SPECIFIC PROGRAMS. LUTHER'S SIGNATURE PAIDEIA PROGRAM, AN INTERDISCIPLINARY COURSE SERIES OFFERED FOR MORE THAN 45 YEARS, HELPS INTEGRATE LEARNING AND BUILDS COMMUNITY THROUGH SHARED ACADEMIC EXPERIENCE. THE COLLEGE'S MUSIC PROGRAM, IN WHICH STUDENTS TRAIN IN PERFORMANCE, CONDUCTING, COMPOSITION, AND EDUCATION, HAS FIVE CHOIRS, TWO BANDS, THREE ORCHESTRAS AND TWO JAZZ BANDS, MANY OF WHICH TOUR NATIONALLY AND INTERNATIONALLY. A VIBRANT OFF-CAMPUS STUDENT PROGRAM DRAWS APPROXIMATELY 66% OF STUDENTS TO STUDY ABROAD PRIOR TO GRADUATION. LUTHER HAS 137 FULL-TIME FACULTY (APPROXIMATLY 93 PERCENT WITH A TERMINAL DEGREE) AND A 10:1 STUDENT-FACULTY RATIO. TOTAL ENROLLMENT WAS 1,442 FTE STUDENTS IN THE FALL OF 2023. 345 STUDENTS GRADUATED IN THE 2023-24 ACADEMIC YEAR. 17417769 1826230 ACADEMIC SUPPORT AND STUDENT SERVICES: THE CENTER FOR ACADEMIC ENRICHMENT PROVIDES SERVICES, BASED ON BEST PRACTICES IN LEARNING ASSISTANCE, INCLUDING NEEDS ASSESSMENT, STUDENT-TO-STUDENT TUTORING, AND ONE-ON-ONE INSTRUCTION WITH PROFESSIONAL STAFF. IN COLLABORATION WITH FACULTY AND OTHER STAFF, CAE COORDINATES SPECIALIZED SERVICES FOR STUDENTS WITH DISABILITIES, MANAGES THE ACADEMIC ALERT SYSTEM, AND SUPPORTS INITIATIVES OF THE ADVISING PROGRAM. ACADEMIC ADVISING IS DONE BY FACULTY. RESEARCH AND TECHNOLOGY SUPPORT ARE PROVIDED THROUGH AN EXTENSIVE LIBRARY PROGRAM. THE COLLEGE HAS MORE THAN 100 STUDENT ORGANIZATIONS ALONG WITH COLLEGE MINISTRIES, HEALTH SERVICES, AND RECREATION AND WELLNESS PROGRAMS. APPROXIMATELY 54% OF STUDENTS ARE ENGAGED IN WORK STUDY TO SERVE THE LUTHER COMMUNITY, GAIN IMPORTANT WORK EXPERIENCE, AND EARN MONEY TOWARD EXPENSES. 13248414 16431672 AUXILIARY ENTERPRISES: LUTHER COLLEGE MAINTAINS A RURAL RESIDENTIAL CAMPUS TO ENHANCE THE EDUCATIONAL EXPERIENCE OF THE STUDENT BODY WITH ROOM AND BOARD PROGRAMS DESIGNED TO ENCOURAGE A SPIRIT OF COLLEGIALITY AND CONVERSATION BEYOND THE CLASSROOM AND LABORATORY. IN FALL 2023, LUTHER'S RESIDENCE HALLS HOUSED 1,383 STUDENTS OR 96% OF TOTAL FALL ENROLLMENT. 1,133 STUDENTS USED THE COLLEGE'S DINING SERVICE. 740376 PUBLIC SERVICE: OFFERINGS TO THE BROADER COMMUNITY INCLUDE A COLLEGE RADIO STATION, CONFERENCES AND SEMINARS, A PERFORMING ARTS SERIES AND A VARIETY OF PROGRAMS IN THE ARTS, ATHLETICS, SCIENCES, AND LEADERSHIP DEVELOPMENT FOR HIGH SCHOOL STUDENTS.RESEARCH: THE COLLEGE RECEIVES GRANTS FOR FACULTY/STUDENT REASEARCH COLLABORATION, PARTICULARLY IN THE SCIENCES. THE COLLEGE DEDICATES SPACE, RESOURCES, AND FACULTY TIME FOR COLLABORATIVE INVESTIGATION WITH STUDENTS. RESEARCH PROJECTS ACROSS THE CURRICULUM OCCUR DURING THE ACADEMIC YEAR AND IN THE SUMMER. 740376 106382797 1 1 0 0 0 0 0 1 1 1 1 1 0 0 1 1 0 1 1 1 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 1 0 1 1 0 0 1 1 1 0 0 0 1 2917 0 1910 1 1 1 1 UK 0 0 0 1 1 0 0 0 0 0 0 X 25 24 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 MD MI NH X PATRICIA S HETRICK 5633871015 700 COLLEGE DRIVE DECORAH IA 52101 J ROBERT PAULSON JR CHAIRPERSON 5.00 X X 0 0 0 SHANNON DUVAL VICE CHAIRPERSON 5.00 X X 0 0 0 ANN LEON SECRETARY 5.00 X X 0 0 0 JEFFERY ANDERSON BOARD MEMBER 5.00 X 0 0 0 BRENT ASPLIN BOARD MEMBER 5.00 X 0 0 0 KELLY BIRKENHOLZ BOARD MEMBER 5.00 X 0 0 0 WILLIE DAVISMCKENNIE BOARD MEMBER 5.00 X 0 0 0 PETER ESPINOSA BOARD MEMBER 5.00 X 0 0 0 CHRIS GADE BOARD MEMBER 5.00 X 0 0 0 ALLEN GREEN BOARD MEMBER 5.00 X 0 0 0 KATHERINE JOHNSON-BECKLIN BOARD MEMBER 5.00 X 0 0 0 SANDEE JOPPA BOARD MEMBER 5.00 X 0 0 0 DR MARK V LARSON BOARD MEMBER 5.00 X 0 0 0 FELIX MALPICA BOARD MEMBER 5.00 X 0 0 0 BRADLEY MILLER BOARD MEMBER 5.00 X 0 0 0 MICHAEL OSTERHOLM BOARD MEMBER 5.00 X 0 0 0 CONNIE PLAEHN BOARD MEMBER 5.00 X 0 0 0 ALESSANDRO RANIOLO BOARD MEMBER 5.00 X 0 0 0 COREY SCHMIDT BOARD MEMBER 5.00 X 0 0 0 ANJELA SHUTTS BOARD MEMBER 5.00 X 0 0 0 JAMES A THOMSEN JR BOARD MEMBER 5.00 X 0 0 0 CHINYERE UKABIALA BOARD MEMBER 5.00 X 0 0 0 LANCE VANDER LINDEN BOARD MEMBER 5.00 X 0 0 0 LEAH VRIESMAN BOARD MEMBER 5.00 X 0 0 0 JAMES YOUNG BOARD MEMBER 5.00 X 0 0 0 JENIFER K WARD PRESIDENT 45.00 X 356837 0 59513 BRADLEY CHAMBERLAIN PRESIDENT ELECT, PROVOST 45.00 X 195895 0 79676 ANDREW BAILEY VP FOR FINANCE AND ADMIN. 45.00 X 146164 0 44136 MARY DUVALL VP FOR DEVELOPMENT 45.00 X 163678 0 24711 KAREN HUNT VP FOR ENROLLMENT MGT 45.00 X 148884 0 7903 ROBERT CLAY CHIEF EQUITY INCLUSION OFC. AND ASST. 45.00 X 134133 0 17063 TERI BLANCHARD INTERIM VP FOR FINANCE & ADMN. 45.00 X 49167 0 77 WILLIAM SMITH VP FOR COMMUNICATION 45.00 X 36257 0 4869 DAVID MITCHELL ASSISTANT PROF OF MATHMATICS & HEAD WRESTLING COACH 45.00 X 105289 0 73088 DIANE GOSSMAN EXEC. DIRECTOR OF IT 45.00 X 104567 0 37791 RICHARD BERNATZ REGISTRAR 45.00 X 116765 0 15645 LAURA BARLAMENT EXEC DIRECT OF STRATEGIC MARKETING 45.00 X 104720 0 18626 1662356 0 383098 10 0 1 0 SODEXO INC BUFFALO SERVICE CENTER PO BOX 352 BUFFALO NY 14240 DINING SERVICES 6900062 MERIT CONTRACTING INC 4661 HADLEY VIEW COURT NE ROCHESTER MN 55906 CONSTRUCTION 1787955 DAVID FINHOLT CONSTRUCTION 1813 TROUT RUN ROAD DECORAH IA 52101 CONSTRUCTION 297328 THE OPUS GROUP 10350 BREN RD WEST MINNETONKA MN 55343 CONSTRUCTION 194200 TURNER CONSTRUCTION 4200 CORPORATE DR SUITE 180 WEST DES MOINES IA 50266 CONSTRUCTION 149400 8 52450 1224756 22134789 1138042 23411995 TUITION & FEES 561910 72324838 72324838 SALES & SERVICE AUXILL 611310 16431672 16431672 SALES & SERVICE EDUCAT 611710 1826230 1826230 90582740 4636485 15017 4621468 174075 207274 -33199 -33199 -33199 17255867 440 5684828 0 11571039 440 11571479 11571479 42650 52450 28489 14161 14161 FACILITY USAGE FEES 611310 846745 846745 SUMMER PROGRAMS 611310 551704 551704 MISCELLANEOUS REVENUE 611310 300424 300424 279479 279479 1978352 132162013 90582740 15017 18152261 49711492 49711492 1638625 704420 737668 196537 26917858 22130180 3095235 1692443 1169484 942537 145507 81440 5379383 4063105 952862 363416 1873810 1504422 244077 125311 64661 19144 45517 78135 78135 128716 128716 2237033 1494986 581912 160135 118501 7452 110851 198 1860046 1614285 150392 95369 66888 15212 28082 23594 3383459 3276143 53658 53658 3596653 3415081 78524 103048 1427407 1170480 103777 153150 514332 509658 2337 2337 5269933 5013987 63986 191960 838037 379299 452655 6083 DINING SERVICES 5822019 5822019 EQUIP RENTAL/MAINTENANC 4150757 2824899 853772 472086 RESALEABLE MERCHANDISE 1086036 1046323 19856 19857 PROCESSING FEES 275814 198254 41874 35686 539245 519419 17087 2739 118148324 106382797 7986480 3779047 39922766 36149185 2496654 11724560 502858 666341 1545874 1596308 571501 479084 163445 349991 199747368 146937506 56673012 52809862 129084012 143148666 61301597 65369996 2157220 1478641 11487896 12880419 305906835 326653053 7471514 7059342 889151 193301 1017637 371873 19208303 17846438 248489 263416 10242244 9323307 39077338 35057677 X 84560912 82741767 182268585 208853609 266829497 291595376 305906835 326653053 X 14013689 9819716 932474 X X 0 1 X 1 1 1 X 12909917 15483877 17094161 10722779 23411995 79622729 12909917 15483877 17094161 10722779 23411995 79622729 8723647 70899082 3857329 3342926 3921979 5022730 4996688 21141652 0 0 13587 0 15017 28604 100792985 488808250 0.70340 0.68060 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 151345 29027 X X X X 0 0 1 X 193567936 -1061620 25166126 7687881 4824141 205150420 199551642 514482 2059341 5177121 3380408 193567936 208192013 5556692 -5710536 4991503 3495024 199551642 167345433 6981968 41700130 4682807 3152711 208192013 166023362 1501147 7245676 4422676 3002076 167345433 0.10300 0.67000 0.22700 1 0 74043 589538 663581 2262564 138026828 96823782 43465610 39802750 37010980 2791770 18991645 13102744 5888901 52809862 INVESTMENT IN SUBSIDIARY 1041795 C PRIVATE EQUITY FUNDS 19327554 F HEDGE FUNDS 26790364 F FUNDS OF FUNDS 10088960 F PARTNERSHIPS, REAL ASSETS 6823679 F PRIVATE DEBT FUNDS 1297644 F 65369996 ANNUITIES PAYABLE 3301016 ASSET RETIREMENT OBLIGATION 3322962 DEPOSITS HELD IN CUSTODY OF OTHERS 368298 PAYROLL LIABILITIES 2218000 STUDENT DEPOSITS 67103 OTHER LIABILTIES 45928 9323307 X 93443585 9819716 1190690 11010406 82433179 128714 49600120 49728834 132162013 68677701 369583 369583 68308118 128714 49711492 49840206 118148324 PART III, LINE 4: WORKS IN THE COLLECTION INCLUDE PAINTINGS, DRAWINGS, WORKS PRODUCED THROUGH PRINT; PHOTOGRAPHIC; OR OTHER TECHNIQUES WHICH PRODUCE MULTIPLE ORIGINALS; SCULPTURE IN MEDIA; ASSEMBLAGES; TEXTILE; CERAMICS; AND UTILITARIAN OR RITUAL OBJECTS IN ANY MEDIUM WHOSE PRINCIPLE VALUE RESIDES IN THEIR AESTHETIC MERIT. THE FINE ARTS COLLECTION EXISTS TO SUPPORT THE GENERAL MISSION OF THE COLLEGE BY PROMOTING AWARENESS AND UNDERSTANDING OF A BROAD SPECTRUM OF ARTISTIC EXPRESSION THROUGH DIVERSITY IN MEDIA, CULTURE, AND HISTORICAL PERSPECTIVE. AS UNIQUE EXPRESSIONS OF THE HUMAN CONDITION, WORKS IN THE COLLECTION INVIGORATE LEARNING AND TEACHING, AND PROVIDE EXPANDED OPPORTUNITIES FOR STUDY, RESEARCH, AND INDIVIDUAL PLEASURE. PART IV, LINE 2B: STUDENT DEPOSIT ACCOUNTS ARE HELD BY THE COLLEGE FOR VARIOUS STUDENT GROUPS ON CAMPUS AND ARE SHOWN AS LIABILITIES ON THE ORGANIZATION'S BALANCE SHEET. PART V, LINE 4: LUTHER COLLEGE USES THE EARNINGS FROM ITS ENDOWMENT FUND FOR SCHOLARSHIPS, PRIZES, AWARDS, LIBRARY SUPPORT, PROGRAM SUPPORT, FACULTY SUPPORT AND RESEARCH IN ACCORDANCE WITH DONOR RESTRICTIONS WHERE APPLICABLE. PART X, LINE 2: THE COLLEGE FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS 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 2D - OTHER ADJUSTMENTS: ACTUARIAL ADJUSTMENT 798,811. RENTAL EXPENSE 207,274. SUBSIDIARY REVENUE 184,605. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDED/UNFUNDED SCHOLARSHIPS 49,711,492. INTEREST RATE SWAP -111,372. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 207,274. SUBSIDIARY EXPENSES 162,309. PART XII, LINE 4B - OTHER ADJUSTMENTS: FUNDED/UNFUNDED SCHOLARSHIPS 49,711,492. 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 COLLEGE CATALOG, VIEW BOOK, APPLICATION FOR ADMISSION, ADMISSIONS GENERAL INFORMATION BROCHURE, AND THE STUDENT HANDBOOK ALL CONTAIN THE COLLEGE'S NONDISCRIMINATORY POLICY. THESE MAJOR PUBLICATIONS ARE PROVIDED TO ALL STUDENTS THROUGHOUT THE ADMISSIONS AND ORIENTATION PROCESS. BECAUSE THE COLLEGE TYPICALLY DRAWS APPROXIMATELY 27% OF ITS STUDENTS FROM IOWA, 31% FROM MN, 9% FROM WI, 5% FROM IL, 15% FROM OUTSIDE THE 4 STATE AREA AND APPROXIMATELY 13% INTERNATIONALLY WE BELIEVE THAT WE QUALIFY FOR THE PUBLICITY EXCEPTION NOTICE PROVIDED BY SECTION 4.01(2)(B) OF REV. PROC 75-50. THE COLLEGE IS ACTIVELY COMMITTED TO PROVIDING OPPORTUNITIES TO STUDENTS FROM DIVERSE BACKGROUNDS. A COORDINATED MULTICULTURAL AND INTERNATIONAL RECRUITMENT EFFORT EXISTS, COUPLED WITH A STRONG NETWORK OF ADVOCACY AND SUPPORT FOR STUDENTS FROM DIVERSE BACKGROUNDS. AS EVIDENCE OF THE COLLEGE'S COMMITMENT, NEARLY 13% OF ITS STUDENTS ARE RACIAL MINORITY STUDENTS. SCHEDULE E, PART I, LINE 6 LUTHER COLLEGE RECEIVES AID OR ASSISTANCE FROM THE GOVERNMENT AGENCIES AND PROGRAMS AS FOLLOWS: STUDENT FINANCIAL ASSISTANCE PROGRAMS CLUSTER, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS, FEDERAL WORK STUDY PROGRAM, FEDERAL PERKINS LOAN PROGRAM, FEDERAL PELL GRANT PROGRAM, FEDERAL DIRECT LOAN PROGRAM, ROBERT C BYRD HONORS SCHOLARSHIPS, TEACHERS EDUCATION ASSISTANCE FOR COLLEGE & HIGHER EDUCATION GRANTS, IOWA TUITION GRANT, IOWA GRANT. SOUTH AMERICA 0 0 PROGRAM SERVICES RECRUITMENT AND STUDY ABROAD PROGRAMS 88835 EUROPE (INCLUDING ICELAND AND GREENLAND) 2 1 PROGRAM SERVICES RECRUITMENT AND STUDY ABROAD PROGRAMS 995486 CENTRAL AMERICA & CARIBBEAN 0 0 PROGRAM SERVICES RECRUITMENT AND STUDY ABROAD PROGRAMS 259217 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES RECRUITMENT AND STUDY ABROAD PROGRAMS 138158 EAST ASIA & THE PACIFIC 0 0 PROGRAM SERVICES RECRUITMENT AND STUDY ABROAD PROGRAMS 163728 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES RECRUITMENT AND STUDY ABROAD PROGRAMS 2872 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES RECRUITMENT AND STUDY ABROAD PROGRAMS 265216 SOUTH ASIA 0 0 PROGRAM SERVICES RECRUITMENT AND STUDY ABROAD PROGRAMS 11622 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 2361597 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 18620324 2 1 0 0 2 1 1925134 20981921 22907055 1 0 0 1 1 0 SCHEDULE F, PART IV, LINE 4: THE COLLEGE INVESTS IN PARTNERSHIPS THAT HOLD DIRECT OR INDIRECT INTERESTS IN PASSIVE FOREIGN INVESTMENT COMPANIES. THE INVESTMENT PARTNERSHIPS HAVE PROPERLY FILED FORM 8621, OR THE UNDERLYING INVESTMENTS DID NOT GENERATE ANY UNRELATED BUSINESS INCOME. UNDER THESE FACTS, IT IS NOT NECESSARY FOR THE COLLEGE TO FILE FORM 8621. SCHEDULE F, PART IV, LINE 5: THE COLLEGE INVESTS IN PARTNERSHIPS THAT HOLD DIRECT OR INDIRECT INTERESTS IN FOREIGN PARTNERSHIPS. HOWEVER, THE COLLEGE DOES NOT MEET THE FILING REQUIREMENTS OF FORM 8865. GOLF OUTING 95100 52450 42650 650 25238 217 2384 95100 52450 42650 650 25238 217 2384 28489 14161 1 MERIT-BASED STUDENT FINANCIAL ASSISTANCE 481 34495779 NEED-BASED STUDENT FINANCIAL ASSISTANCE 781 9867051 INTERNATIONAL STUDENT FINANCIAL ASSISTANCE 185 5348662 PART I, LINE 2: STUDENTS RECEIVING SCHOLARSHIPS AND FELLOWSHIPS ARE DETERMINED BY THE OFFICE OF FINANCIAL AID THROUGH CAREFUL STUDY OF THE INFORMATION ON THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA), THE STUDENT'S ACADEMIC RECORD, TEST SCORES, AND RECOMMENDATIONS. DETAILED RECORDS AND STATISTICS ARE MAINTAINED BY THE OFFICE OF FINANCIAL AID AND THE OFFICE OF ASSESSMENT AND INSTITUTIONAL RESEARCH IN REGARDS TO ALL FINANCIAL AID AWARDED TO STUDENTS OF THE COLLEGE, INCLUDING GRANTS AND SCHOLARSHIPS. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 JENIFER K WARD PRESIDENT 326837 0 0 0 30000 0 18016 0 41497 0 416350 0 0 0 BRADLEY CHAMBERLAIN PRESIDENT ELECT, PROVOST 169338 0 0 0 26557 0 10214 0 69462 0 275571 0 0 0 ANDREW BAILEY VP FOR FINANCE AND ADMIN. 141185 0 0 0 4979 0 8294 0 35842 0 190300 0 0 0 MARY DUVALL VP FOR DEVELOPMENT 141178 0 0 0 22500 0 8686 0 16025 0 188389 0 0 0 DAVID MITCHELL ASSISTANT PROF OF MATHMATICS & HEAD WRESTLING COACH 99511 0 0 0 5778 0 3378 0 69710 0 178377 0 0 0 KAREN HUNT VP FOR ENROLLMENT MGT 144452 0 0 0 4432 0 7386 0 517 0 156787 0 0 0 ROBERT CLAY CHIEF EQUITY INCLUSION OFC. AND ASST. 134133 0 0 0 0 0 6818 0 10245 0 151196 0 0 0 PART I, LINE 1A LUTHER COLLEGE PROVIDES A HOUSE, CLEANING SERVICE AND UTILITIES FOR THE PRESIDENT OF THE COLLEGE. THESE BENEFITS ARE LISTED IN THE WRITTEN COMPENSATION POLICY FOR THE COLLEGE AND ARE ALSO IN THE WRITTEN EMPLOYMENT CONTRACT OF THE PRESIDENT. THE HOUSING AND UTILITIES ARE NOT TREATED AS TAXABLE COMPENSATION BECAUSE THE PRESIDENT'S HOUSE IS USED FOR COLLEGE BUSINESS AND MEETINGS TO BUILD RELATIONSHIPS WITH PROSPECTIVE DONORS TO THE COLLEGE. A CITY OF DECORAH IA 426004485 2015-01-12 6868000 CURRENTLY REFUND CITY OF DECORAH SERIES 2010 BONDS ISSUED 12/21/2010 0 0 0 B IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 2017-09-01 20945000 CURRENTLY REFUND IA HIGHER EDUCATION LOAN AUTHORITY SERIES 2011 0 0 0 A 2943901 6868000 20174 6847826 2015 1 0 1 1 B 6981666 20945000 115000 20830000 2017 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 1 1 0 0 0 1 A 0 0 0 1 1 0 0 0 1 B 0 0 0 1 1 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: CITY OF DECORAH IA DATE THE REBATE COMPUTATION WAS PERFORMED: 12/01/2015 ISSUER NAME: IOWA HIGHER EDUCATION LOAN AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 09/01/2017 134450 MERIT SCHOLARSHIP STUDENT FINANCIAL AID OPEN ITEM 114104 EMPLOYMENT 0 X 5 151200 FMV X 2700 FMV X 15 980838 FMV X MUSICAL INSTRUMENTS 1 2014 X NFL TICKETS 2 1270 0 0 1 1 PART I, COLUMN (B): THE AMOUNT IN COLUMN (B) IS THE NUMBER OF CONTRIBUTIONS. PART I, LINE 32B: REAL ESTATE AGENTS OR ART DEALERS USED TO SELL CONTRIBUTIONS OF REAL PROPERTY. FINANCIAL ADVISORS ARE USED TO MANAGE CONTRIUTIONS OF CRUTS. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THIS CORPORATION SHALL BE THOSE INDIVIDUALS HOLDING THE FOLLOWING POSITIONS AND OFFICES (A) THE VOTING MEMBERS OF THE CHURCHWIDE ASSEMBLY OF THE EVANGELICAL LUTHERAN CHURCH IN AMERICA ENTITLED TO VOTE AT SUCH MEETINGS CHOSEN IN ACCORDANCE WITH THE DISCIPLINE AND USAGE OF SUCH CHURCH, OR ITS SUCCESSOR. SUCH MEMBERS SHALL REMAIN MEMBERS OF THE CORPORATION UNTIL THE CONVENING OF THE SUCCEEDING CHURCHWIDE ASSEMBLY OF THE EVANGELICAL LUTHERAN CHURCH IN AMERICA AT WHICH TIME SUCH MEMBERS SHALL GIVE PLACE TO THE VOTING MEMBERS AT SUCH SUCCEEDING CHURCHWIDE ASSEMBLY, IN ACCORDANCE WITH THE DISCIPLINE AND USAGE OF SAID CHURCH, OR ITS SUCCESSOR. (B) THE MEMBERS OF THE BOARD OF REGENTS OF THIS CORPORATION. (C) THE PRESIDENT OF THE COLLEGE OPERATED BY THIS CORPORATION (D) THE OFFICERS OF THE ADMINISTRATION OF THE COLLEGE. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BODY OF LUTHER COLLEGE IS THE BOARD OF REGENTS. THE BOARD OF REGENTS ARE LISTED AS MEMBERS OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PREPARED BY THE ACCOUNTING & RISK MANAGER, REVIEWED BY THE CONTROLLER, AND IS REVIEWED BY THE VP FOR FINANCE AND ADMINISTRATION. THE 990 IS THEN SENT TO THE FIRM OF BAKER TILLY ADVISORY GROUP, LP FOR REVIEW AND ENTRY INTO THEIR TAX SOFTWARE. AFTER ALL REVIEWS ARE COMPLETED, THE 990 IS PRESENTED TO THE AUDIT COMMITTEE FOR THEIR REVIEW AND APPROVAL. AFTER AUDIT COMMITTEE APPROVAL, THE 990 IS SENT TO EACH BOARD MEMBER, AND THE COMPLETED 990 IS SIGNED BY THE VP FOR FINANCE AND ADMINISTRATION, AND A PARTNER FROM BAKER TILLY ADVISORY GROUP LP AND IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C LUTHER COLLEGE'S CONFLICT OF INTEREST POLICY AND DISCLOSURE STATEMENT IS SENT OUT TO THE BOARD OF REGENTS, AUDIT COMMITTEE, INVESTMENT COMMITTEE, PRESIDENT, VICE PRESIDENTS, AND KEY EMPLOYEES OF THE COLLEGE IN MAY OF EACH YEAR. EACH RECIPIENT IS REQUIRED TO READ THE POLICY AND TO COMPLETE, SIGN, AND RETURN THE DISCLOSURE STATEMENT TO THE OFFICE FOR FINANCIAL SERVICES TO BE REVIEWED FOR POTENTIAL INTERESTS THAT COULD GIVE RISE TO CONFLICTS. LUTHER COLLEGE'S CONFLICT OF INTEREST POLICY AND DISCLOSURE STATEMENT ADDRESSES ALL AREAS OF CONCERN EXPRESSED ON FORM 990. FORM 990, PART VI, SECTION B, LINE 15 THE DIRECTOR OF HUMAN RESOURCES AND THE PRESIDENT OF THE COLLEGE WILL GATHER THE FOLLOWING BENCHMARK SALARY DATA: 1. MEDIAN AND 95TH PERCENTILE SALARIES FOR CUPA (COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION) PRIVATE RELIGIOUS COLLEGES WITH COMPARABLE ENROLLMENT. 2. MEDIAN SALARIES FOR 15 CUPA (COLLEGES AND UNIVERSITIES PROFESSIONAL ASSOCIATION) COLLEGES. 3. MEDIAN AND MAXIMUM SALARIES FOR ACM (ASSOCIATED COLLEGES OF THE MIDWEST). THE PRESIDENT OF THE COLLEGE WILL REVIEW AND PRESENT THE PRESIDENTIAL AND VICE PRESIDENTIAL BENCHMARK INDICATORS TO THE BOARD OF REGENTS. THE BOARD OF REGENTS REVIEWS THE SALARY BENCHMARK DATA AND DETERMINES AND APPROVES COMPENSATION FOR THE PRESIDENT, PROVOST, VICE PRESIDENTS, AND CEO OF THE COLLEGE. THE BOARD OF REGENTS ALSO REVIEWS THE NON-SALARY COMPENSATION BENEFITS PROVIDED TO THE OFFICERS. THE PRESIDENT NOTIFIES THE DIRECTOR OF HUMAN RESOURCES OF THE APPROVAL OF COMPENSATION FOR THE PRESIDENT AND VICE PRESIDENTS. THIS INFORMATION WILL BE RECORDED IN THE MINUTES OF THE MEETING AND WILL BE MAINTAINED IN A CONFIDENTIAL ARCHIVE. THIS PROCESS WAS LAST COMPLETED IN AUGUST 2023. FORM 990, PART VI, SECTION C, LINE 19 COPIES OF LUTHER COLLEGE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AUDITED FINANCIAL STATEMENTS, AND FORMS 990 & 990-T ARE AVAILABLE TO THE PUBLIC UPON REQUEST AT THE OFFICE FOR FINANCIAL SERVICES, 700 COLLEGE DRIVE, DECORAH, IA 52101. THE AUDITED FINANCIAL STATEMENTS ARE ALSO AVAILABLE ONLINE AT WWW.LUTHER.EDU/FINANCIALSERVICES. FORM 990, PART XI, LINE 9: ACTUARIAL ADJUSTMENT 798,811. INTEREST RATE SWAP 111,372. SUBSIDIARY REVENUE 184,604. SUBSIDIARY EXPENSE -162,313. LUTHER COLLEGE WIND ENERGY PROJECT LLC 700 COLLEGE DRIVE DECORAH IA 52101 352366881 PRODUCTION OF ELECTRICITY IA 0 0 LUTHER COLLEGE VENTURES INC LUTHER COLLEGE VENTURES INC 700 COLLEGE DRIVE DECORAH IA 52101 273945752 HOLDING COMPANY IA N/A C 184604 1067714 1.00000 1 CHARITABLE REMAINDER UNITRUSTS (31) 700 COLLEGE DRIVE DECORAH IA 52101 420680466 TRUST IA N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0