2024-05-16T17:23:33-05:00 2023-06-30 390859910 BAKER TILLY US LLP 20 STANWIX STREET PITTSBURGH PA 15222 990 2022-07-01 550356985 BETHANY COLLEGE BETH 3048297000 31 E CAMPUS DRIVE BETHANY WV 26032 DR JAMIE CARIDI PRESIDENT 3048297000 2024-05-14 1 DR JAMIE CARIDI XXX-XX-XXXX 1 BRIAN R LENART EA P00289136 4126976400 2024-05-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DR JAMIE CARIDI 31 E CAMPUS DRIVE BETHANY WV 26032 39897042 0 X WWW.BETHANYWV.EDU X 1840 WV TEACHING AND LEARNING FORM THE MISSION OF BETHANY COLLEGE. 33 32 494 32 124847 5659 9452975 4169166 23145497 26603294 1897107 462784 4611597 2840962 39107176 34076206 14389228 15114072 0 0 10100821 10029439 0 0 880473 14301536 14850748 38791585 39994259 315591 -5918053 103894837 85102571 50182199 50935191 53712638 34167380 TEACHING AND LEARNING FORM THE MISSION OF BETHANY COLLEGE. CENTRAL TO THIS IS PROVIDING A LIBERAL ARTS EDUCATION FOR STUDENTS, INCLUDING THE PREPARATION OF PROFESSIONALS, IN AN ATMOSPHERE OF STUDY, WORK, AND SERVICE. 0 0 27376038 15114072 20663837 INSTRUCTION - THE COLLEGE PROVIDES EDUCATIONAL SERVICES AND INSTRUCTIONS TO FULL AND PART TIME STUDENTS SEEKING A COLLEGE EDUCATION AND/OR DEGREE. SCHOLARSHIPS & FELLOWSHIPS - THE COLLEGE PROVIDES FINANCIAL ASSISTANCE TO STUDENTS EITHER BASED ON THEIR NEED OR ACADEMIC MERIT. 7707255 0 5804309 ACADEMIC SUPPORT AND OTHER STUDENT SERVICES RELATED PROGRAMS - SUPPORT ACTIVITIES THROUGH THE DEANS OF VARIOUS DIVISIONS, THE LIBRARY, AND AUDIO VISUAL SERVICES. 35083293 1 1 0 0 0 1 1 1 0 1 1 1 0 0 1 1 0 1 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 1 639 0 494 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 33 32 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 WV X SUSAN HALULKO 3048297103 31 E CAMPUS DRIVE BETHANY WV 26032 X JAMIE CARIDI INTERIM PRESIDENT 40.00 0.00 X X 0 0 0 GEORGE M BADO BOARD CHAIRMAN 5.00 0.00 X X 0 0 0 JEFF WODA BOARD VICE CHAIRMAN 5.00 0.00 X X 0 0 0 CARMINA HUGHES SECRETARY 1.00 0.00 X X 0 0 0 DOUGLAS GOIN TREASURER 1.00 0.00 X X 0 0 0 CRAIG WILLIAMS TRUSTEE 1.00 0.00 X 0 0 0 JHAMAL ROBINSON TRUSTEE 1.00 0.00 X 0 0 0 JOYCE JEFFERSON TRUSTEE 1.00 0.00 X 0 0 0 GEORGIANA RILEY TRUSTEE 1.00 0.00 X 0 0 0 EDWARD J SEE TRUSTEE 1.00 0.00 X 0 0 0 LOGAN HASSIG TRUSTEE 1.00 0.00 X 0 0 0 THADDAEUS ALLEN TRUSTEE 1.00 0.00 X 0 0 0 DONALD WAUGAMAN TRUSTEE 1.00 0.00 X 0 0 0 SEAN MCBRIDE TRUSTEE 1.00 0.00 X 0 0 0 DEAN HAUBRICH TRUSTEE 1.00 0.00 X 0 0 0 ASA JOHNSON TRUSTEE 1.00 0.00 X 0 0 0 LINDA LEWIS TRUSTEE 1.00 0.00 X 0 0 0 JANET A LONG TRUSTEE 1.00 0.00 X 0 0 0 G DANIEL MARTICH TRUSTEE 1.00 0.00 X 0 0 0 MARIE DEPARIS TRUSTEE 1.00 0.00 X 0 0 0 FRED M HARRIS TRUSTEE 1.00 0.00 X 0 0 0 DAVID SIMS TRUSTEE 1.00 0.00 X 0 0 0 MARSHA SMITH TRUSTEE 1.00 0.00 X 0 0 0 JOHN W MULLEN TRUSTEE 1.00 0.00 X 0 0 0 ARTHUR B KEYS JR TRUSTEE 1.00 0.00 X 0 0 0 KATHY TUCKER TRUSTEE 1.00 0.00 X 0 0 0 PAT HOSEY TRUSTEE 1.00 0.00 X 0 0 0 CHRIS PAYNE TRUSTEE 1.00 0.00 X 0 0 0 GARY KIDWELL TRUSTEE 1.00 0.00 X 0 0 0 GARY NOVAK TRUSTEE 1.00 0.00 X 0 0 0 ELIZABETH S ATHOL TRUSTEE 1.00 0.00 X 0 0 0 GREGORY B JORDAN TRUSTEE 1.00 0.00 X 0 0 0 DEAN LESIAK TRUSTEE 1.00 0.00 X 0 0 0 DR TAMARA NICHOLS RODENBERG PRESIDENT (UNTIL 12/31/22) 40.00 0.00 X X 235125 0 26117 DENNIS E MCMASTER CFO/VP OF FINANCE (UNTIL 10/3/22) 40.00 0.00 X 148445 0 22974 SUSAN HALULKO CFO/VP OF FINANCE 40.00 0.00 X 73857 0 16698 LORI WEAVER DIRECTOR OF ADVANCEMENT 40.00 0.00 X 139040 0 26682 596467 0 92471 3 0 1 0 EAT'N PARK HOSPITALITY GROUP INC 285 E WATERFRONT DR PITTSBURGH PA 15120 DINING 2700090 HE NEUMANN CO PO BOX 6208 WHEELING WV 26003 HVAC REPAIR & MAINTENANCE 530900 TERRA FIRMA CONSULTING SERVICE 835 MCDONELL DRIVE GAHANNA OH 43230 CONSULTING 439067 FOLLETT HIGHER EDUCATION GROUP 3146 SOLUTIONS CTR CHICAGO IL 60677 TEXTBOOK RENTAL PROGRAM 301931 INDEPENDENT COLLEGE ENTERPRISE 2300 MACCORKLE AVE SE CHARLESTON WV 25304 CONSULTING 229537 12 731336 3437830 501985 4169166 TUITION AND FEES 611310 19049738 19049738 AUXILIARY ENTERPRISES 611310 7292416 7157268 135148 OTHER PROGRAM SERVICES 611310 261140 261140 26603294 696804 696804 2851263 2851263 64608 74909 -10301 -10301 -10301 5507407 4500 5745927 0 -238520 4500 -234020 -234020 34076206 26468146 124847 3314047 15114072 15114072 304324 164676 139648 7592949 6722025 471275 399649 1526716 1405932 81295 39489 605450 475682 92123 37645 110676 42566 68110 129745 129745 60184 60184 1903467 1380365 515642 7460 89748 20107 57513 12128 650526 375759 129640 145127 72905 68060 666 4179 1989893 1989893 454729 424905 5627 24197 1141567 776265 365302 1865548 1305884 559664 602459 28454 574005 FOOD 2274756 2274756 MAINTENANCE & REPAIRS 1515488 1510936 4552 STUDENT ACTIVITIES 556195 556174 21 BAD DEBT EXPENSE 549605 549605 883257 611458 200869 70930 39994259 35083293 4030493 880473 5420610 1463493 2390458 3016157 1224393 1776354 2108385 1943309 19908 19908 265791 371882 83725886 51544816 31378362 32181070 27852397 26693610 30891800 16454171 2342733 1182617 103894837 85102571 3466796 3984176 3233089 2655311 385155 417017 40181902 41607420 2915257 2271267 50182199 50935191 X -870746 -20776093 54583384 54943473 53712638 34167380 103894837 85102571 X -5918053 1233486 -5487341 -9373350 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2 3 1 1 X 4 4 4 1 0 0 113520 X X X 0 50379522 508233 2200777 633238 1024465 51430829 52635886 1794451 -2493505 885185 672125 50379522 47271949 1187235 5851388 460755 1213931 52635886 46988437 961900 1171974 616311 1234051 47271949 46758203 910904 1234223 1645740 269153 46988437 0.03000 0.97000 0.00000 1 0 598277 598277 67296229 41725164 25571065 7347732 6237473 1110259 8483648 3582179 4901469 32181070 BENEFICIAL INTEREST IN EXTERNAL TRUSTS 5721253 F INTERESTS IN MINERAL RESERVES 10732981 F POOLED INCOME FUNDS -63 F 16454171 ACCRUED POSTRETIREMENT BENEFITS 532495 OBLIGATIONS UNDER CAPITAL LEASES 26017 OBLIGATIONS UNDER OPERATING LEASES 1218244 OBLIGATIONS UNDER SPLIT INTEREST AGREEMENTS 494511 2271267 X 10952595 1233486 -24432006 -23198520 34151115 -74909 -74909 34076206 25010512 74909 74909 24935603 15058656 15058656 39994259 PART II, LINE 9: THE HISTORICAL STRUCTURES ARE INCLUDED IN THE FIXED ASSETS OF THE COLLEGE. PART III, LINE 4: THE COLLEGE CONSIDERS ITS COLLECTION OF WORKS OF ART AND RARE LIBRARY BOOKS AS INEXHAUSTIBLE BECAUSE THEY HAVE CULTURAL, AESTHETIC OR HISTORICAL VALUE AND, THEREFORE, DOES NOT DEPRECIATE THOSE ASSETS. THE COLLEGE'S COLLECTIONS INCLUDE LIBRARY BOOKS, PAINTINGS, PRINTS, PHOTOGRAPHS, SCULPTURES, DRAWINGS, WATERCOLORS, DECORATIVE ARTS, AND OTHER SPECIAL COLLECTIONS. THESE ITEMS ARE HELD FOR EDUCATIONAL, RESEARCH, AND CURATORIAL PURPOSES. MOST OF THESE ITEMS ARE HOUSED IN THE COLLEGE'S ARCHIVES AND SPECIAL COLLECTIONS UNDER THE SUPERVISION OF THE ARCHIVIST WHO IS INVOLVED IN CONTINUOUS EFFORTS TO APPLY PRESERVATION STANDARDS TO MAINTAIN THE ITEMS. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS OPERATING EXPENDITURES IN THE YEARS IN WHICH THE ITEMS ARE ACQUIRED. CONTRIBUTED COLLECTION ITEMS ARE NOT REFLECTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. PART V, LINE 4: THE COLLEGE'S ENDOWMENT CONSISTS OF VARIOUS INVESTMENT FUNDS ESTABLISHED PRIMARILY FOR THE SUPPORT OF THE COLLEGE'S MISSION. ITS ENDOWMENT INCLUDES DONOR-RESTRICTED ENDOWMENT FUNDS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE COLLEGE TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. PART X, LINE 2: THE COLLEGE ACCOUNTS FOR UNCERTAINTIES IN INCOME TAXES IN ACCORDANCE WITH AUTHORITATIVE GUIDANCE, WHICH PRESCRIBES A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MANAGEMENT HAS DETERMINED THAT THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD AT JUNE 30, 2023 AND 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF INTERESTS IN MINERAL RESERVES -9,373,350. SCHOLARSHIPS NETTED TO REVENUES ON THE FINANCIALS -14,998,472. INVESTMENT MGT. FEE NETTED TO REVENUES ON FINANCIALS -60,184. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -74,909. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 74,909. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS NETTED TO REVENUES ON THE FINANCIALS 14,998,472. INVESTMENT MGT. FEE NETTED TO REVENUES ON FINANCIALS 60,184. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 BETHANY COLLEGE ADMITS STUDENTS OF ANY RACE, COLOR, SEX, GENDER, RELIGION, SEXUAL ORIENTATION, DISABILITY, VETERAN STATUS, AND NATIONAL OR ETHNIC ORIGIN TO ALL THE RIGHTS, PRIVILEGES, PROGRAMS, AND ACTIVITIES GENERALLY AFFORDED OR MADE AVAILABLE TO STUDENTS. THE COLLEGE INCLUDES THE NON-DISCRIMINATION POLICY IN PRINTED AND WEB-BASED RECRUITMENT AND REGISTRATION MATERIALS. SCHEDULE E, PART I, LINE 6 ASSISTANCE CONSISTS OF STUDENT FINANCIAL ASSISTANCE RECEIVED FROM THE DEPARTMENT OF EDUCATION, PELL, SEOG, AND COLLEGE WORK STUDY. THE COLLEGE'S RIGHT TO SUCH AID HAS NEVER BEEN REVOKED OR SUSPENDED. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS N/A 1034474 0 0 0 0 0 0 1034474 0 1034474 0 0 0 0 0 0 PART III ACCOUNTING METHOD: 1 STUDENT SCHOLARSHIPS AND AWARD 583 14998472 0 N/A N/A ENDOWMENT SCHOLARSHIPS 50 115600 0 N/A N/A X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 DR TAMARA NICHOLS RODENBERG PRESIDENT (UNTIL 12/31/22) 235125 0 0 0 0 0 0 0 26117 0 261242 0 0 0 DENNIS E MCMASTER CFO/VP OF FINANCE (UNTIL 10/3/22) 148445 0 0 0 0 0 0 0 22974 0 171419 0 0 0 LORI WEAVER DIRECTOR OF ADVANCEMENT 139040 0 0 0 0 0 0 0 26682 0 165722 0 0 0 PART I, LINE 1A TRAVEL EXPENSES FOR THE PRESIDENT'S SPOUSE ARE ONLY PROVIDED WHEN THE TRAVEL AND RELATED EVENTS REQUIRE THE PRESENCE OF HER SPOUSE FOR BUSINESS PURPOSES. AS SUCH, THESE ARE CONSIDERED TO BE NONTAXABLE. THE PRESIDENT RECEIVED HOUSING PROVIDED BY THE COLLEGE HOUSING IS CONSIDERED NONTAXABLE PURSUANT TO IRS SECTION 119 BECAUSE LIVING ON CAMPUS IS A REQUIREMENT OF EMPLOYMENT. THE SOCIAL CLUB MEMBERSHIP IS PROVIDED FOR BUSINESS PURPOSE USE. THE PRESIDENT REIMBURSES THE COLLEGE FOR ANY AND ALL INCIDENTAL PERSONAL USE. AS SUCH, THESE ARE CONSIDERED TO BE NONTAXABLE. X 1098 DONOR COST X 4 447233 NYSE X 1 25000 DONOR COST X 3 2924 DONOR COST X TRAVEL RIEMBURSEMENT 3 13121 DONOR COST X SPORTS EQUIPMENT 2 6293 DONOR COST X CARPET CLEANING SERVICES 1 2984 DONOR COST X GIFTS FOR GOLF OUTING 1 1700 DONOR COST X TRANSPORTATION 1 800 DONOR COST X EVENT FEES 2 662 DONOR COST X DESK CHAIRS 1 170 DONOR COST 18 0 1 0 PART I, COLUMN (B): THE NUMBER IN COLUMN B ABOVE REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION A, LINE 1A THE FOLLOWING INDIVIDUALS SERVE AS EMERITUS TRUSTEES ON THE BETHANY COLLEGE BOARD OF TRUSTEES WITH NO VOTING RIGHTS: - MARC B. CHERNENKO - JAMES F. COMPANION - W. D. COLLINS - O. JOHN ALPIZER - ANN C. PRESTON - WILLIAM S. RYAN - NEIL CHRISTMAN - ROBERT W. EWING - G. W. NEWTON - GAYLE C. MANCHIN - EUGENE MILLER - WILLIAM B. ALLEN - GEORGE M. DAVIS - THOMAS P. JOHNSON - ROBERT D. PONTON - ROBERT J. MCCANN - LINDA D. LEWIS FORM 990, PART VI, SECTION A, LINE 1A PER THE BYLAWS, SECTION 2: AT ITS ANNUAL MEETING, THE BOARD SHALL ELECT A COMMITTEE OF NOT LESS THAN 7 NOR MORE THAN 11 TRUSTEES. THE EXACT NUMBER TO BE DETERMINED BY THE BOARD, BUT TO INCLUDE THE CHAIRMAN OF THE BOARD, TO SERVE AS AN EXECUTIVE COMMITTEE UNTIL THE NEXT ANNUAL MEETING OF THE BOARD AND UNTIL THEIR SUCCESSORS ARE CHOSEN. THE PRESIDENT OF THE COLLEGE SHALL BE AN EX-OFFICIO MEMBER OF THE COMMITTEE WITHOUT A VOTE. A MAJORITY SHALL CONSTITUTE A QUORUM. THE COMMITTEE SHALL ELECT ONE OF ITS MEMBERS AS CHAIRMAN AND SHALL ELECT OR APPOINT A SECRETARY. THE COMMITTEE SHALL MEET ON THE SECOND SATURDAY IN MARCH AND IMMEDIATELY BEFORE EACH REGULAR MEETING OF THE BOARD AND AT OTHER TIMES ON THE CALL OF EITHER THE PRESIDENT OF THE COLLEGE OR THE CHAIRMAN OF THE COMMITTEE. THE AUTHORITY OF THE BOARD OF TRUSTEES IS HERBY DELEGATED TO SAID EXECUTIVE COMMITTEE, EXCEPT AS OTHERWISE PROVIDED IN THE CHARTER OR IN THE BYLAWS, TO TRANSACT ALL BUSINESS RELATING TO THE COLLEGE AT ALL TIMES WHEN THE BOARD IS NOT IN SESSION. THE COMMITTEE SHALL KEEP ACCURATE MINUTES OF ITS MEETINGS AND REPORT TO THE FULL BOARD AT ITS NEXT MEETING. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION DELEGATED CONTROL OVER MANAGEMENT DUTIES THROUGH A CONSULTING COMPANY FOR THE INTERIM PRESIDENT POSITION. JAMIE CARIDI, INTERIM PRESIDENT, IS REIMBERSED FOR HIS DUTIES THROUGH TERRA FIRMA CONSULTING SERVICES. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED IN DEPTH BY THE PRINCIPAL OFFICERS AND ACCOUNTING STAFF OF THE INSTITUTION. IT IS ALSO SHARED WITH ALL MEMBERS OF THE GOVERNING BODY FOR REVIEW PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C PURSUANT TO ARTICLE IX OF THE BY-LAWS OF THE BOARD OF TRUSTEES OF BETHANY COLLEGE, ALL BOARD MEMBERS AND OFFICERS OF BETHANY COLLEGE, AS WELL AS THE ASSISTANT SECRETARY OF THE BOARD, ARE GIVEN A CONFLICT OF INTEREST DISCLOSURE SURVEY WHICH THEY MUST SUBMIT AT THE ANNUAL MEETING OF THE BOARD OF TRUSTEES (USUALLY IN MAY). THE RESPONSES ARE MONITORED BY THE ASSISTANT SECRETARY TO THE BOARD OF TRUSTEES. A LIST OF POTENTIAL CONFLICTS IS REPORTED TO THE PRESIDENT OF THE COLLEGE WHO IN TURN SUBMITS THE REPORT TO THE OFFICERS OF THE BOARD AND THE COLLEGE'S EXTERNAL AUDITING FIRM FOR REVIEW. TRUSTEES WITH CONFLICT OF INTEREST ABSTAIN FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR DETERMINING COMPENSATION OF EXECUTIVE MANAGEMENT: ACCORDING TO WRITTEN OBJECTIVES, SPECIFIC AND GENERAL, DEVELOPED BY CONSULTATION BETWEEN THE PRESIDENT AND THE BOARD CHAIR AND PRESENTED TO AND APPROVED BY THE BOARD BEFORE THE OUTSET OF EACH ACADEMIC YEAR, THE PRESIDENT IS EVALUATED IN AN EXECUTIVE SESSION AT THE ANNUAL MEETING OF THE BOARD OF TRUSTEES. THE PRESIDENT REPORTS ON THESE GOALS AT EACH BOARD MEETING. THE PRESIDENT IS ALSO FORMALLY EVALUATED BY THE BOARD AT LEAST EVERY FOUR YEARS OR AT ANY TIME DEEMED DESIRABLE BY THE BOARD. THE EVALUATION IS CONDUCTED BY AN OUTSIDE EVALUATOR WHO IS APPOINTED BY THE BOARD WITH THE APPROVAL OF THE PRESIDENT. THE EXECUTIVE COMMITTEE SERVES AS THE PRESIDENT'S COMPENSATION COMMITTEE, AND BASED ON THE ANNUAL EVALUATION, MEETS IN EXECUTIVE SESSION TO REVIEW THE PRESIDENT'S COMPENSATION PACKAGE. THE PRESIDENT'S DUTIES, TERMS OF EMPLOYMENT, AND COMPENSATION ARE COMMITTED TO A TEN (10) PAGE "EMPLOYMENT AGREEMENT" (CONTRACT). THE FIRST NINE (9) PAGES OF THE CONTRACT CONTAIN SPECIFIC DUTIES AND TERMS. A ONE (1) PAGE APPENDIX IS UPDATED EACH YEAR WITH SALARY AND ANY SPECIAL CONDITIONS. A SUPPLEMENTAL LETTER OUTLINES REIMBURSEMENT FOR SPOUSAL ACCOMMODATION EXPENSE(S). THE CONTRACT WAS DRAFTED BY THE CHAIR OF THE BOARD AND THE COLLEGE'S GENERAL COUNSEL AND APPROVED BY THE PRESIDENT OF THE COLLEGE AS WELL AS THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THE FULL BOARD-RATIFIED DUTIES, TERMS, AND COMPENSATION PER THE CONTRACT, "THE EMPLOYEE'S (PRESIDENT) BASE SALARY FOR SUBSEQUENT YEARS WILL BE REVIEWED AND ESTABLISHED ANNUALLY, ON OR BEFORE MARCH 31 OF EACH CALENDAR YEAR, THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES AND, IF ADJUSTED, WILL BE ADJUSTED EFFECTIVE JULY 1 OF THAT YEAR. ADJUSTMENTS ARE AT THE SOLE DISCRETION OF THE EXECUTIVE COMMITTEE AND WILL BE CONDITIONED UPON THE BOARD'S SATISFACTION WITH THE EMPLOYEE'S PERFORMANCE AND THE COLLEGE'S FINANCIAL POSITION". THE EXECUTIVE COMMITTEE ANNUALLY EVALUATES THE PERFORMANCE OF THE PRESIDENT BEFORE MARCH 31 EACH YEAR, THE PRESIDENT RESPONDS IN WRITING TO A SET OF MUTUALLY AGREED UPON GOALS FOR THE PRIOR YEAR AND SUBMITS A DRAFT OF GOALS FOR THE UPCOMING YEAR. THE COMMITTEE PROVIDES CONSTRUCTIVE FEEDBACK TO BOTH. BASED ON THE EVALUATION, THE EXECUTIVE COMMITTEE SETS THE PRESIDENT'S COMPENSATION UTILIZING COMPARATIVE DATA FROM A VARIETY OF EXTERNAL SOURCES: (A) SURVEY DATA FOR PRESIDENTS OF COLLEGES WITH SIMILAR ASSETS PROVIDED BY THE ANNUAL COLLEGE UNIVERSITY AND PERSONNEL ASSOCIATION (CUPA), (B) A REVIEW OF INTERNAL REVENUE SERVICE 990 FORM DATA FOR PRESIDENTS OF PEER INSTITUTIONS, AND (C) COMPARATIVE DATA FOR PRESIDENTS OF NATIONAL LIBERAL ARTS COLLEGES PROVIDED BY THE ANNUAL CHRONICLE OF HIGHER EDUCATION SURVEY PROCESS FOR DETERMINING COMPENSATION OF OTHER EMPLOYEES: THE COLLEGE USES COMPARABLE COMPENSATION DATA (CUPA, NAICU, NACUBO, ETC.) TO DETERMINE THE APPROPRIATE LEVEL OF COMPENSATION FOR ITS OFFICERS, TAKING EXPERIENCE, EDUCATION, AND SPECIALIZATION INTO CONSIDERATION. THE INFORMATION IS REVIEWED FOR COMPENSATION BY THE CHAIR OF THE BOARD OF TRUSTEES FOR BETHANY COLLEGE AND A SMALL EXECUTIVE COMMITTEE (COMPRISED OF BOARD MEMBERS). THEY LOOK AT NATIONAL PRESIDENTIAL COMPENSATION REPORTS SUCH AS YAFFE. THIS PROCESS IS UNDERTAKEN ANNUALLY AND IS DOCUMENTED VIA EMAIL COMMUNICATIONS. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST STATEMENTS ARE AVAILABLE UPON REQUEST IN THE OFFICE OF THE PRESIDENT OF THE COLLEGE. FORM 990, PART VII, SECTION A: THE COLLEGE PAYS TO TERRA FIRMA CONSULTING SERVICE FOR THE CONSULTANCY SERVICES RENDERED BY JAMIE CARIDI (INTERIM PRESIDENT). THE TOTAL AMOUNT PAID TO THE FIRM DURING THE CALENDAR YEAR 2022 WAS $439,067. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTERESTS IN MINERAL RESERVES -9,373,350. BETHANY FOUNDATION LLC 1 EAST CAMPUS DRIVE BETHANY WV 26032 813625157 TO SUPPORT BETHANY COLLEGE WV BETHANY COLLEGE CHARITABLE REMAINDER TRUSTS (4) INVESTMENTS PA N/A T 1 CHARITABLE TRUSTS (4) INVESTMENTS PA N/A T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0