2025-03-28T15:06:29-05:00 2024-06-30 331498605 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2023-07-01 381945965 DAVENPORT UNIVERSITY DAVE 6164513511 6191 KRAFT AVE SE GRAND RAPIDS MI 49512 ANTHONY ANDERSON EVP OF FINANCE AND CFO 6164513511 2025-03-17 1 1 DORI J EGGETT P00645252 2695674500 2025-03-17 2023 2025-03-06 01:10:19Z ANTHONY ANDERSON 6191 KRAFT AVE SE GRAND RAPIDS MI 49512 128584170 0 X WWW.DAVENPORT.EDU X 1970 MI POST-SECONDARY EDUCATIONAL INSTITUTION PREPARING STUDENTS FOR CAREERS IN BUSINESS, HEALTH, AND TECHNOLOGY. QUALITY, CAREER-ORIENTED ACADEMIC PROGRAMS ARE OFFERED THROUGHOUT THE MAIN CAMPUS IN GRAND RAPIDS AND OTHER CAMPUSES THROUGHOUT MICHIGAN. 16 14 1490 10 46000 43500 11881025 7060476 97914900 102956782 1188797 376539 7644733 8714734 118629455 119108531 38378033 40430480 0 0 50210660 41946986 0 0 628779 41745948 40872239 130334641 123249705 -11705186 -4141174 155806618 144141892 76714348 68905009 79092270 75236883 DAVENPORT UNIVERSITY PREPARES INDIVIDUALS AND ORGANIZATIONS TO EXCEL IN THE KNOWLEDGE-DRIVEN ENVIRONMENT OF THE 21ST CENTURY. 0 0 105301809 40430480 109545999 PROVIDE EDUCATION TO APPROXIMATELY 5,000 STUDENTS AT LOCATIONS THROUGHOUT MICHIGAN, INCLUDING OVER 3,000 COURSES AT THE UNDERGRADUATE AND GRADUATE LEVELS OF POST-SECONDARY EDUCATION IN BUSINESS, HEALTH, AND TECHNOLOGY. 992540 1586283 EDUCATING BUSINESS PROFESSIONALS THROUGH NON-CREDIT COURSES IN VARIOUS AREAS. 106294349 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 1 1 0 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 262 0 1 1490 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 16 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X ANTHONY ANDERSON EVP OF FINANCE AND CFO 6164513511 6191 KRAFT AVE SE GRAND RAPIDS MI 49512 RICHARD PAPPAS PRESIDENT 40.00 1.00 X X 572915 0 343926 SCOTT EPSTEIN EVP FOR QUALITY & EFFECTIVENESS 40.00 0.00 X 269298 0 133846 WALTER O'NEILL EVP ENROLLMENT & STUDENT SERVICES 40.00 0.00 X 249714 0 137382 GILDA GELY EVP FOR ACADEMICS & PROVOST 40.00 0.00 X 283354 0 80868 RACHEL RENDER EVP FOR ADVANCEMENT 40.00 1.00 X 259267 0 103058 DEBRA COOPER EVP FOR MARKETING & COMMUN 40.00 0.00 X 243580 0 93989 DAVID VENEKLASE FORMER INTERIM TREAS/SEC/EVP FINANCE AND CFO 0.00 0.00 X 265036 0 41757 JODI CHYCINSKI VP - ADMISSIONS & STRAT PT 40.00 0.00 X 201261 0 54435 AMY MANSFIELD DEAN - MAINE COLLEGE OF BUSINESS/COLLEGE OF TECH 40.00 0.00 X 201368 0 29802 ANTHONY ANDERSON TREAS/SEC/EVP FOR FINANCE AND CFO 40.00 1.00 X 163224 0 39982 PAULA CUNNINGHAM CHAIRMAN 1.00 0.00 X X 0 0 0 MICHELLE VANDYKE VICE-CHAIRMAN 1.00 0.00 X X 0 0 0 DOYLE HAYES TRUSTEE 1.00 0.00 X 0 0 0 ANTHONY CHANG TRUSTEE 1.00 0.00 X 0 0 0 RAMI FAWAZ TRUSTEE 1.00 0.00 X 0 0 0 PETER HAHN TRUSTEE 1.00 0.00 X 0 0 0 ROBERT HETZLER TRUSTEE 1.00 0.00 X 0 0 0 KEITH KLINGENBERG TRUSTEE 1.00 0.00 X 0 0 0 ILEANA MCALARY TRUSTEE 1.00 0.00 X 0 0 0 RACHEL MRAZ TRUSTEE 1.00 1.00 X 0 0 0 KENT RIDDLE TRUSTEE 1.00 0.00 X 0 0 0 MARK STIERS TRUSTEE 1.00 0.00 X 0 0 0 MARY TUUK-KURAS TRUSTEE 1.00 0.00 X 0 0 0 KENNETH YERRICK TRUSTEE 1.00 0.00 X 0 0 0 2709017 0 1059045 37 1 1 0 RUFFALO NOEL LEVITZ LLC 1025 KIRKWOOD PARKWAY SW CEDAR RAPIDS IA 52404 STUDENT ENROLLMENT SERVICES 936698 SACHSE CONSTRUCTION AND DEVELOPMENT COMP 3663 WOODWARD AVENUE SUITE 500 DETROIT MI 48201 BUILDING RENOVATIONS 446803 ASCEND LEARNING HOLDINGS LLC 11161 OVERBROOK RD LEAWOOD KS 66211 HEALTH PROFESSION CERTIFICATION STUDY MA 409336 ELLUCIAN COMPANY LP 62578 COLLECTIONS CENTER DR CHICAGO IL 60693 COMPUTER SOFTWARE SUBSCRIPTION 401905 SPECTRUM HEALTH PRIMARY CARE PARTNERS PO BOX 675140 DETROIT MI 48267 HEALTH SERVICES 169444 12 2896290 2379601 1784585 7060476 TUITION/STUDENT FEES 611600 101370499 101370499 NON-CREDIT COURSE FEES 611710 1586283 1586283 102956782 545328 545328 4238 46000 0 0 4238 46000 50238 46000 4238 7902661 7933153 138297 -30492 -138297 -168789 -168789 9579689 1404189 8175500 8175500 DUES AND EVENT INCOME 900099 488996 488996 488996 119108531 111132282 46000 869773 37963178 37963178 2467302 2467302 2220201 2220201 31333936 25836246 5090979 406711 1699173 1269883 413405 15885 4364288 3677193 633053 54042 2329388 1868903 431042 29443 758166 597095 161071 72105 72105 163353 163353 46145 46145 3650338 3113210 530936 6192 3794049 3635334 88995 69720 1106525 989915 101319 15291 3311283 628726 2670342 12215 5704740 5704740 2274697 2211599 51896 11202 380915 210983 169932 1985301 1985301 8308581 8308581 1510503 1510503 ATHLETIC EXPENSE 2553753 2553753 EQUIPMENT RENTAL AND MA 1558421 226158 1332263 BAD DEBTS 1368493 1368493 TESTING AND ASSESSMENT 1233929 1233929 1090942 301817 781047 8078 123249705 106294349 16326577 628779 1281647 1545696 1913865 5200094 1681188 2509939 4644316 4291775 94339 108185 3052073 3386176 205494842 109736279 101328202 95758563 15507726 7842895 201582 86439 26101680 23412130 155806618 144141892 7867416 4499942 5763540 6005401 31514435 31667738 3300000 0 1394696 1475649 26874261 25256279 76714348 68905009 X 78009888 74253501 1082382 983382 79092270 75236883 155806618 144141892 X -4141174 512763 -226976 X X 0 1 X 1 1 1 X 5210729 7285975 20284688 11881025 7060476 51722893 5210729 7285975 20284688 11881025 7060476 51722893 11642722 40080171 515372 407869 466404 594978 545328 2529951 24000 22000 48000 48000 46000 188000 76949 104135 105181 105602 488996 880863 55321707 563814687 0.72450 0.72810 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2019 AMOUNT: $ 76,949. 2020 AMOUNT: $ 104,135. 2021 AMOUNT: $ 105,181. 2022 AMOUNT: $ 105,602. 2023 AMOUNT: $ 488,996. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 11547117 11547117 150697898 71990557 78707341 42029179 36988615 5040564 867156 757107 110049 353492 353492 95758563 CASH SURRENDER VALUE OF OFFICERS' LIFE INSURANCE 3250568 INTEREST RATE SWAP ASSET 796053 RIGHT OF USE OPERATING LEASE ASSET 19365509 23412130 DEFERRED COMPENSATION AND SEVERANCE AGREEMENTS 18328930 CHARITABLE REMAINDER TRUST LIABILITY 1071897 POSTRETIREMENT OBLIGATIONS 5855452 25256279 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 RACIALLY NONDISCRIMINATORY POLICY STATEMENT IS INCLUDED ON VARIOUS PUBLICITY & POLICY STATEMENTS, INCLUDING OUR WEBSITE, COURSE CATALOG, AND ENROLLMENT CATALOG. SCHEDULE E, PART I, LINE 6 STUDENT FINANCIAL AID FOR TUITION CHARGES 0 CENTRAL AMERICA AND THE CARIBBEAN 0 0 SCHOLARSHIPS N/A 82750 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 SCHOLARSHIPS N/A 129685 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 SCHOLARSHIPS AND STUDY ABROAD PROGRAM N/A 835531 MIDDLE EAST AND NORTH AFRICA 0 0 SCHOLARSHIPS N/A 9386 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 SCHOLARSHIPS N/A 717643 RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, 0 0 SCHOLARSHIPS N/A 21650 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 SCHOLARSHIPS N/A 99118 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 0 0 SCHOLARSHIPS N/A 55526 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 SCHOLARSHIPS N/A 516013 0 0 0 0 0 0 1951289 516013 2467302 SCHOLARSHIPS CENTRAL AMERICA AND THE CARIBBEAN 6 82750 APPLIED AGAINST STUDENT'S TUITION ACCOUNT N/A N/A SCHOLARSHIPS EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 9 129685 APPLIED AGAINST STUDENT'S TUITION ACCOUNT N/A N/A SCHOLARSHIPS EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIU 37 835531 APPLIED AGAINST STUDENT'S TUITION ACCOUNT N/A N/A SCHOLARSHIPS MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 2 9386 APPLIED AGAINST STUDENT'S TUITION ACCOUNT N/A N/A SCHOLARSHIPS NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 65 717643 APPLIED AGAINST STUDENT'S TUITION ACCOUNT N/A N/A SCHOLARSHIPS RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, 1 21650 APPLIED AGAINST STUDENT'S TUITION ACCOUNT N/A N/A SCHOLARSHIPS SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 6 99118 APPLIED AGAINST STUDENT'S TUITION ACCOUNT N/A N/A SCHOLARSHIPS SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 5 55526 APPLIED AGAINST STUDENT'S TUITION ACCOUNT N/A N/A SCHOLARSHIPS SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 28 516013 APPLIED AGAINST STUDENT'S TUITION ACCOUNT N/A N/A 0 0 0 0 0 0 1 SCHOLARSHIPS AND TUITION DISCOUNTS TO DAVENPORT UNIVERSITY STUDENTS 6089 35495876 N/A N/A PART I, LINE 2: DAVENPORT UNIVERSITY PROVIDES FUNDING FOR STUDENT SCHOLARSHIPS AND TUITION DISCOUNTS BASED ON MERIT, FINANCIAL NEED, SPECIAL CRITERIA BASED ON RESTRICTED ENDOWMENT FUNDS, AND INFORMATION PROVIDED BY THE STUDENT ON THE SCHOLARSHIP APPLICATION. ALLOCATIONS ARE DETERMINED FOR EACH ACCOUNT BY THE ACCOUNTING AND ADVANCEMENT OFFICES AND DISTRIBUTED TO THE FINANCIAL AID OFFICER RESPONSIBLE FOR SCHOLARSHIPS. THE FINANCIAL AID OFFICE IS RESPONSIBLE FOR COMMUNICATING AWARD GUIDELINES, PROCEDURES, AND REQUIREMENTS, AS WELL AS AWARD AMOUNTS, TO ACCOUNTS RECEIVABLE AND OTHER DEPARTMENTS AS NECESSARY TO ENSURE THE ACCURACY OF THE AWARDS. IN ADDITION, THE FINANCIAL AID OFFICE IS RESPONSIBLE FOR ENSURING THAT AWARDS ARE MADE IN CONJUNCTION WITH THE SCHOLARSHIP CRITERIA AND AWARDED IN THE AMOUNT APPROVED BY THE OFFICE OF ADVANCEMENT. X X 1 1 X X X X 1 1 0 0 0 0 0 1 0 RICHARD PAPPAS PRESIDENT 378446 0 149747 0 44722 0 310445 0 33481 0 916841 0 0 0 SCOTT EPSTEIN EVP FOR QUALITY & EFFECTIVENESS 189662 0 60331 0 19305 0 101983 0 31863 0 403144 0 0 0 WALTER O'NEILL EVP ENROLLMENT & STUDENT SERVICES 174508 0 57591 0 17615 0 98321 0 39061 0 387096 0 0 0 GILDA GELY EVP FOR ACADEMICS & PROVOST 200179 0 63840 0 19335 0 67222 0 13646 0 364222 0 0 0 RACHEL RENDER EVP FOR ADVANCEMENT 175992 0 59052 0 24223 0 63972 0 39086 0 362325 0 0 0 DEBRA COOPER EVP FOR MARKETING & COMMUN 162961 0 56419 0 24200 0 62185 0 31804 0 337569 0 0 0 DAVID VENEKLASE FORMER INTERIM TREAS/SEC/EVP FINANCE 0 0 0 0 265036 0 41188 0 569 0 306793 0 0 0 JODI CHYCINSKI VP - ADMISSIONS & STRAT PT 180897 0 14364 0 6000 0 15389 0 39046 0 255696 0 0 0 AMY MANSFIELD DEAN - MAINE COLLEGE OF BUSINESS/COL 181403 0 13965 0 6000 0 15888 0 13914 0 231170 0 0 0 ANTHONY ANDERSON TREAS/SEC/EVP FOR FINANCE AND CFO 146195 0 0 0 17029 0 12185 0 27797 0 203206 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE IS PROVIDED TO CERTAIN EMPLOYEES WHO RECEIVED HOUSING LOANS. INTEREST IS CHARGED AT APPLICABLE IRS RATES AND INCLUDED IN EMPLOYEES' W-2 GROSS INCOME. IN ADDITION, RICHARD PAPPAS IS PAID A MONTHLY HOUSING ALLOWANCE, WHICH TOTALED $30,000.00 AND IS INCLUDED IN HIS GROSS INCOME. CERTAIN EMPLOYEES HAVE CLUB DUES PAID ON THEIR BEHALF FOR WORK RELATED FUNCTIONS. PART I, LINES 4A-B LINE 4A: DAVID VENEKLASE RECEIVED SEVERANCE PAYMENTS TOTALING $265,036 DURING THE TAX YEAR. LINE 4B: THE FOLLOWING INDIVIDUALS PARTICIPATE IN A NONQUALIFIED 457(F) DEFERRED COMPENSATION PLAN AND HAD THE FOLLOWING AMOUNTS CONTRIBUTED TO THE PLAN FOR THE YEAR REPORTED: RICHARD PAPPAS $43,051; GILDA GELY $21,665; WALTER O'NEILL $19,748; ANTHONY ANDERSON $12,185; SCOTT EPSTEIN $21,127; DEB COOPER $19,146; RACHEL RENDER $20,040; DAVE VENEKLASE $20,594. IN ADDITION, THE FOLLOWING ALSO PARTICIPATE IN A NONQUALIFIED DEFERRED COMPENSATION PLAN THAT INCLUDES CERTAIN RETENTION BONUSES TO BE PAID IF THEY REMAIN EMPLOYED BY THE UNIVERSITY THROUGH CERTAIN SERVICE DATES. DEFERRED COMPENSATION IN THE AMOUNTS OF $240,994 FOR RICHARD PAPPAS; $59,729 FOR WALTER O'NEILL; $59,729 FOR SCOTT EPSTEIN, $23,892 FOR GILDA GELY, $23,892 FOR DEB COOPER, AND $23,892 FOR RACHEL RENDER ARE INCLUDED IN THEIR TOTAL COMPENSATION REPORTED ON SCHEDULE J UNDER THIS PLAN. PART I, LINE 7 AS INDICATED IN SCHEDULE J, PART II, SEVERAL INDIVIDUALS RECEIVED A BONUS BASED ON PERFORMANCE AND THE FINANCIAL RESULTS OF THE ORGANIZATION. THE PRESIDENT'S BONUS IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE AND ALSO THE ENTIRE BOARD. ALL OTHER BONUSES PAID OUT ARE REVIEWED BY THE PRESIDENT. A MICHIGAN FINANCE AUTHORITY 800596186 NONEAVAIL 2019-12-16 4791078 SEE PART VI 0 0 0 B MICHIGAN FINANCE AUTHORITY 800596186 NONEAVAIL 2020-09-30 22785000 SEE PART VI 0 0 0 C MICHIGAN FINANCE AUTHORITY 800596186 NONEAVAIL 2024-02-01 8049717 SEE PART VI 0 0 0 A 3242926 4791078 4791078 1 0 1 1 B 3056925 22785000 165000 22620000 1 0 1 1 C 8049717 160994 7888723 1 0 1 1 A 0 1 1 0 0 0.00000 0.00000 0 0 0 B 0 0 1 0 0 0.00000 0.00000 0 0 0 C 0 1 1 0 0 0.00400 0.00400 0 0 0 A 0 0 1 0 0 0 0 0 0 B 0 0 1 0 1 1 SEE PART VI 0 0 0 0 0 C 0 0 1 0 1 0 0 0 0 A 0 B 0 C 0 SCHEDULE K, PART I, ROW A, BOND ISSUES: (F) DESCRIPTION OF PURPOSE: REISSUE/REFUND 100% OF OUTSTANDING BONDS RE-ISSUED 10/24/2018 (THE "REISSUED SERIES 2017 BONDS"). THE REISSUED SERIES 2017 BONDS REISSUED/REFUNDED 100% OF OUTSTANDING BONDS ISSUED ON 3/21/2017 (THE "SERIES 2017 BONDS"). THE SERIES 2017 BONDS REFUNDED 100% OF OUTSTANDING BONDS ISSUED 1/19/2006 AND 8/07/2008. SCHEDULE K, PART I, ROW B, BOND ISSUES: (F) DESCRIPTION OF PURPOSE: REFUND 100% OF OUTSTANDING BONDS RE-ISSUED 10/24/2018 (THE "REISSUED SERIES 2012 BONDS") AND 100% OF OUTSTANDING BONDS ISSUED 10/24/2018 (THE "REISSUED SERIES 2015 BONDS"). THE REISSUED SERIES 2012 BONDS REISSUED/REFUNDED 100% OF OUTSTANDING BONDS ISSUED 7/26/2012. THE REISSUED SERIES 2015 BONDS REISSUED/REFUNDED 100% OF OUTSTANDING BONDS ISSUED 8/13/2015. SCHEDULE K, PART I, ROW C, BOND ISSUES: (F) DESCRIPTION OF PURPOSE: REFUND 100% OF OUTSTANDING BONDS ISSUED 10/24/2018 (THE " REISSUED SERIES 2018 BONDS"). THE REISSUED SERIES 2018 BONDS REISSUED/REFUNDED 100% OF OUTSTANDING BONDS ISSUED 12/29/2010, WHICH REFUNDED 100% OF THE OUTSTANDING BONDS ISSUED 8/9/2002 AND 6/19/2004 AND A PORTION OF OUTSTANDING BONDS ISSUED 8/7/2008. SCHEDULE K, PART III, COLUMN C: PART III COLUMN C IS NOT COMPLETED FOR THE PORTION OF THE BONDS WHICH REFUNDED THE PORTION OF THE REISSUED SERIES 2018 BONDS ALLOCATED TO REFUND THE PORTION OF THE SERIES 2010 BONDS ALLOCATED TO REFUND THE MICHIGAN HIGHER EDUCATION FACILITIES AUTHORITY VARIABLE RATE DEMAND LIMITED OBLIGATION REVENUE BONDS, SERIES 2002 (DAVENPORT UNIVERSITY PROJECT), DATED AUGUST 29, 2002 (I.E., BONDS ISSUED PRIOR TO JANUARY 1, 2003). SCHEDULE K, PART III, COLUMNS A AND C, LINE 2: THE LEASE AGREEMENTS ARE FOR LAUNDRY MACHINES IN STUDENT HOUSING FACILITIES AND FOR VENDING MACHINES IN VARIOUS BUILDINGS, BOTH CONSTITUTE INCIDENTAL USE UNDER TREAS. REG. SEC. 1.141-3(D)(5). SCHEDULE K, PART III, COLUMNS A, B AND C, LINE 3A: ONE MANAGEMENT AGREEMENT IS FOR DINING SERVICES AND QUALIFIES FOR THE SAFE HARBOR UNDER REV. PROC. 97-13. SCHEDULE K, PART IV, COLUMN B, LINE 4B OLD NATIONAL BANK AND FIFTH THIRD BANK. SCHEDULE K, PART IV, COLUMN B, LINE 4C 10 YEARS FOR THE OLD NATIONAL BANK SWAP AND 4.8 YEARS FOR THE FIFTH THIRD BANK SWAP. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE AUDIT AND FINANCE COMMITTEE PRIOR TO FILING. A COPY OF THE FORM 990 IS ALSO PROVIDED TO ALL BOARD MEMBERS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL DISCLOSURE STATEMENTS ARE FILED WITH THE UNIVERSITY, AND REVIEWED BY THE CFO/EXECUTIVE VP FOR FINANCE. IF A CONFLICT ARISES, THE BOARD MEMBER WOULD STAY IN THE ROOM, NOT PARTAKE IN CONVERSATION UNLESS ASKED, AND ABSTAIN FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE UNIVERSITY'S PRESIDENT AND KEY EMPLOYEES IS REVIEWED ANNUALLY BY THE BOARD OF TRUSTEES' COMPENSATION AND CONFLICT OF INTEREST COMMITTEE. THE COMMITTEE REQUIRES THAT A COMPENSATION STUDY TAKE PLACE PERIODICALLY. THE COMPENSATION STUDY INVOLVES HIRING A CONSULTANT TO PERFORM ANALYSIS OF DAVENPORT UNIVERSITY COMPENSATION LEVELS AS COMPARED TO PEER ORGANIZATION'S COMPENSATION INFORMATION GATHERED FROM SURVEYS AND PUBLICLY AVAILABLE DATA. THE MOST RECENT YEAR THIS PROCESS WAS UNDERTAKEN WAS FISCAL YEAR 2021/22. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE TO THE GENERAL PUBLIC. FORM 990, PART XI, LINE 9: CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE CHANGE IN INTEREST RATE SWAP AGREEMENT -271,306. CHANGE IN POST RETIREMENT BENEFITS 89,970. ELIMINATIONS FROM CONSOLIDATION -45,640. FORM 990, PART XII, LINE 2C: THERE HAS BEEN NO CHANGE IN PROCESS FROM THE PRIOR YEAR. DAVENPORT UNIVERSITY FOUNDATION 6191 KRAFT AVE SE GRAND RAPIDS MI 49512 382434184 SUPPORTING ORGANIZATION MI 501(C)(3) LINE 12A, I DAVENPORT UNIVERSITY 1 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 DAVENPORT UNIVERSITY FOUNDATION C 2896290 CASH DAVENPORT UNIVERSITY FOUNDATION L 631492 FMV