2024-06-21T08:15:26-05:00 2022-06-30 410746749 CLIFTONLARSONALLEN LLP 8390 EAST CRESCENT PARKWAY SUITE 300 GREENWOOD VILLAGE CO 80111 990 2021-07-01 440545271 COTTEY COLLEGE COTT 4176678181 1000 WEST AUSTIN NEVADA MO 64772 ERIC VERTER CONTROLLER 4176678181 2024-06-21 1 ERIC VERTER 999009999 SARAH HINTZ P00492291 3037795710 2024-06-20 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z X ERIC VERTER 1000 WEST AUSTIN NEVADA MO 64772 49597132 0 X WWW.COTTEY.EDU X 1925 MO COTTEY COLLEGE, AN INDEPENDENT LIBERAL ARTS AND SCIENCES COLLEGE, EDUCATES WOMEN TO BE CONTRIBUTING MEMBERS OF A GLOBAL SOCIETY THROUGH A CHALLENGING CURRICULUM AND A DYNAMIC CAMPUS EXPERIENCE. IN OUR DIVERSE AND SUPPORTIVE ENVIRONMENT, WOMEN DEVELOP THEIR POTENTIAL FOR PERSONAL AND PROFESSIONAL LIVES OF INTELLECTUAL ENGAGEMENT AND THOUGHTFUL ACTION AS LEARNERS, LEADERS, AND CITIZENS. 11 11 449 500 0 0 7042800 10755410 8269742 8109595 8352731 6889861 1348833 618660 25014106 26373526 5375923 6962895 0 0 11227472 10976157 0 0 761223 5536095 5692303 22139490 23631355 2874616 2742171 140381856 123217800 1727289 1772366 138654567 121445434 X COTTEY COLLEGE, AN INDEPENDENT LIBERAL ARTS AND SCIENCES COLLEGE, EDUCATES WOMEN TO BE CONTRIBUTING MEMBERS OF A GLOBAL SOCIETY THROUGH A CHALLENGING CURRICULUM AND A DYNAMIC CAMPUS EXPERIENCE. IN OUR DIVERSE AND SUPPORTIVE ENVIRONMENT, WOMEN DEVELOP THEIR POTENTIAL FOR PERSONAL AND PROFESSIONAL LIVES OF INTELLECTUAL ENGAGEMENT AND THOUGHTFUL ACTION AS LEARNERS, LEADERS, AND CITIZENS. 0 0 16932514 6962895 8728255 HIGHER EDUCATION SERVICES EXPENSES WERE INCURRED IN THE OPERATION OF A LIBERAL ARTS AND SCIENCES COLLEGE. THE COLLEGE EDUCATES WOMEN TO BECOME CONTRIBUTING MEMBERS OF A GLOBAL SOCIETY THROUGH A CHALLENGING CURRICULUM AND A DYNAMIC CAMPUS EXPERIENCE. APPROXIMATELY 300 STUDENTS ATTENDED DURING THE REPORTING PERIOD. THE INSTRUCTIONAL AREA IS THE PRIMARY AREA FOR ALL PROGRAM EXPENSES. 16932514 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 378 0 1 449 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X ERIC VERTER CONTROLLER 4176678181 1000 W AUSTIN BLVD NEVADA MO 64772 KATHRYN BAYNE CHAIR 10.00 0.00 X X 0 0 0 DIANN MCCHESNEY VICE CHAIR 3.00 0.00 X X 0 0 0 GEORGANN DOUGLAS SECRETARY 3.00 0.00 X X 0 0 0 LYDIA BANGERT TRUSTEE 3.00 0.00 X 0 0 0 JAMES BICKEL TRUSTEE 3.00 0.00 X 0 0 0 JOAN BRADDOCK TRUSTEE 3.00 0.00 X 0 0 0 ARIEL DELANEY TRUSTEE 3.00 0.00 X 0 0 0 CHERYL DENSLOW TRUSTEE 3.00 0.00 X 0 0 0 JACK EWING TRUSTEE 3.00 0.00 X 0 0 0 TAMARA KENWORTHY TRUSTEE 3.00 0.00 X 0 0 0 HOPE ZOELLER TRUSTEE 3.00 0.00 X 0 0 0 JANN WEITZEL PRESIDENT 40.00 0.00 X 195166 0 23827 TERRY TUBBS VP FOR ADMIN & FINANCE THRU 8/21 40.00 0.00 X 94415 0 12762 JOANN BANGS VP FOR ACADEMIC AFFAIRS 40.00 0.00 X 116131 0 21030 DAVID HERINGER VP FOR ENROLLMENT MGMT & MKTG 40.00 0.00 X 106706 0 22474 LANDON ADAMS VP FOR STUDENT LIFE 40.00 0.00 X 116141 0 22590 628559 0 102683 4 0 1 0 CFO COLLEAGUE LLC 419 LAKE VIEW WAY AUBURNDALE FL 33823 ACCOUNTING SERVICES 188877 CLIFTONLARSONALLEN LLP PO BOX 776376 CHICAGO IL 60677 ACCOUNTING SERVICES 111571 2 815072 3271471 6668867 10755410 TUITION & FEES 611310 5991025 5991025 AUXILIARY REVENUE 611310 2118570 2118570 8109595 2822970 2822970 27290497 23223606 4066891 4066891 4066891 AGENCY REVENUES 900099 310762 310762 307898 307898 618660 26373526 8728255 0 6889861 17248 17248 6565791 6565791 379856 379856 284598 195220 75171 14207 8178335 5609940 2160149 408246 426036 287315 117415 21306 1459852 984512 402333 73007 627336 423070 172893 31373 100801 100801 108362 108362 232380 230567 1813 156725 114707 42018 460777 110988 333026 16763 847305 271704 575601 326882 215546 62450 48886 371696 339850 31846 350603 63673 286930 ADMINISTRATION 953369 17402 839710 96257 OTHER STUDENT SERVICES 767604 767604 AUXILIARY EXPENSES 306353 306353 DUES 67946 16911 51035 641500 14257 618083 9160 23631355 16932514 5937618 761223 1311909 2221314 1476588 3110138 159875 235727 121237 154571 18952 633 6967505 6057155 975444 910350 92827177 65632880 42469257 49049942 1021417 1902245 140381856 123217800 1009191 1142152 622700 517626 95398 112588 1727289 1772366 X 20371449 13947345 118283118 107498089 138654567 121445434 140381856 123217800 X 2742171 -18361189 -1590115 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 123646202 3288483 -11894505 2502145 4061162 108476873 104038205 4102622 25981582 2003816 8472391 123646202 103119377 7126905 1194974 1962094 5440957 104038205 104348932 1644529 4403511 1912214 5365361 103119397 100344370 4354387 6240888 1706450 4884263 104348932 0.14135 0.70332 0.15533 0 1 1 6967505 6057155 910350 910350 HEDGE FUNDS 38568739 F BENEFICIAL INTEREST IN PERPETUAL TRUSTS 10481203 F 49049942 SECURITY & DAMAGE DEPOSIT 40825 ANNUITY PAYABLE 71763 112588 X 1546575 -18361189 2070000 -8535762 -24826951 26373526 0 26373526 18755708 2070000 2070000 16685708 6945647 6945647 23631355 PART X, LINE 2: THE COLLEGE FOLLOWS ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS AND PRESCRIBES A RECOGNITION THRESHOLD 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. THE COLLEGE HAS NO UNCERTAIN TAX POSITIONS RESULTING IN AN ACCRUAL OF TAX EXPENSE OR BENEFIT AS OF 6/30/2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN SPLIT INTEREST AGREEMENTS -12,009. CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS -1,578,106. SCHOLARSHIPS NETTED WITH TUITION REVENUE -4,508,002. AGENCY EXPENSES INCLUDED IN EXPENSES -2,437,645. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS NETTED WITH TUITION REVENUE 4,508,002. AGENCY EXPENSES INCLUDED IN REVENUES 2,437,645. PART XI, LINE 2B; PART XII, LINE 2A: IN-KIND USE OF PEO SISTERHOOD PROPERTY - $2,070,000 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 PUBLICIZED ITS RACIALLY NONDISCRIMINATORY POLICY IN THE SCHOOL CATALOG AVAILABLE ONLINE, COLLEGE BROCHURES, AND ON THE WEBSITE. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVED AID FROM THE FOLLOWING: U.S. DEPARTMENT OF EDUCATION STUDENT FINANCIAL AID PROGRAMS, FEDERAL PELL GRANT, FEDERAL OPPORTUNITY GRANT PROGRAM, FEDERAL WORK STUDY PROGRAM. THE COLLEGE ALSO PARTICIPATES IN THE HIGHER EDUCATIONAL ACT FEDERAL FAMILY LOAN PROGRAM (FEDERAL STAFFORD LOAN, FEDERAL SUPPLEMENTAL LOANS FOR STUDENTS AND THE FEDERAL PLUS LOANS FOR PARENTS). 0 CENTRAL AMERICA AND THE CARIBBEAN 0 0 ALTERNATIVE INVESTMENTS N/A 30368646 0 0 0 0 0 0 30368646 0 30368646 SCHOLARSHIPS CENTRAL AMERICA AND THE CARIBBEAN 3 27890 N/A N/A SCHOLARSHIPS EAST ASIA AND THE PACIFIC 5 33498 N/A N/A SCHOLARSHIPS EUROPE (INCLUDING ICELAND & GREENLAND) 4 29839 N/A N/A SCHOLARSHIPS NORTH AMERICA 1 11000 N/A N/A SCHOLARSHIPS SOUTH AMERICA 3 24598 N/A N/A SCHOLARSHIPS SUB-SAHARAN AFRICA 15 253031 N/A N/A 1 0 0 0 1 0 PART I, LINE 3: COTTEY COLLEGE REPORTS THEIR FINANCIAL STATEMENTS ON THE ACCRUAL BASIS. PART III ACCOUNTING METHOD: 1 INTERNATIONAL CHAPTER PEO SISTERHOOD 3700 GRANT AVENUE DES MOINES IA 503122899 420453829 501(C)(4) 0 17248 N/A TRANSFERS TO P.E.O. SISTERHOOD TRANSFERS TO P.E.O. SISTERHOOD GRANTS & SCHOLARSHIPS 344 6565791 N/A N/A PART I, LINE 2: GRANTS ARE AWARDED TO STUDENTS BASED ON ELIGIBILITY REQUIREMENTS WHICH ARE DETERMINED ON THE BASIS OF FINANCIAL NEED, ACADEMIC ABILITY AND (OR) SPECIAL ABILITIES. NEED BASED FINANCIAL AID IS DETERMINED BY USING FEDERAL REGULATIONS. STUDENTS MUST ALSO MAINTAIN A SATISFACTORY ACADEMIC PROGRESS WHICH IS MONITORED AT THE END OF EACH SEMESTER. ALL GRANTS ARE APPLIED TO TUITION AND FEES ACCOUNTS. X X X 1 1 X X 0 0 0 0 0 0 0 0 0 JANN WEITZEL PRESIDENT 195166 0 0 0 0 0 15095 0 8732 0 218993 0 0 0 PART I, LINE 1A AS A CONDITION OF EMPLOYMENT, THE PRESIDENT IS REQUIRED TO LIVE IN HOUSING SUPPLIED BY THE COLLEGE. IN ADDITION, TRAVEL FOR HER COMPANION IS PROVIDED WHEN THEY ARE REPRESENTING THE INSTITUTION AT PUBLIC FUNCTIONS ACROSS THE COUNTRY. THESE BENEFITS ARE PART OF THEIR CONTRACT AND ARE NOT TAXABLE. FORM 990, PART VI, SECTION A, LINE 1A THE COMMITTEE SHALL REPRESENT THE BOARD OF TRUSTEES IN THE INTERIM BETWEEN BOARD MEETINGS AND, IN ACCORDANCE WITH THE GENERAL POLICIES OF THE BOARD, SHALL EXERCISE ALL POWERS OF THE BOARD. IT SHALL DISCHARGE SUCH DUTIES AS THE BOARD MAY ASSIGN TO IT FROM TIME TO TIME, AND SHALL ARRANGE FOR THE EXECUTION OF ORDERS AND RESOLUTIONS NOT OTHERWISE ESPECIALLY COMMITTED OR PROVIDED FOR. FORM 990, PART VI, SECTION A, LINE 6 ACTIVE MEMBERS OF THE P.E.O. SISTERHOOD SHALL COMPRISE THE EXECUTIVE BOARD OF INTERNATIONAL CHAPTER OF THE P.E.O. SISTERHOOD. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF TRUSTEES AT COTTEY ARE APPOINTED BY THE INTERNATIONAL P.E.O. SISTERHOOD. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING ACTION REQUIRES AN AFFIRMATIVE VOTE OF THREE-FOURTHS OF THE MEMBERS: - REMOVAL OF A TRUSTEE FROM THE BOARD. - THE APPOINTMENT OR REMOVAL OF THE PRESIDENT BY THE COLLEGE - AMENDMENTS TO THE BYLAWS THE FOLLOWING ACTIONS REQUIRE A RECOMMENDATION APPROVED BY THREE-FOURTHS OF THE MEMBERS AND UNANIMOUS VOTE AND APPROVAL IN WRITING OF THE MEMBERS: - THE PURCHASE, ACCEPTANCE, SALE OR TRANSFER OF REAL PROPERTY AS WELL AS ALTERATIONS OR IMPROVEMENTS TO THE PHYSICAL PLANT IN EXCESS OF $150,000. - ALL CONTRACTS FOR THE ERECTION OF NEW BUILDINGS AND/OR MAJOR IMPROVEMENTS, THE PLANS AND SPECIFICATIONS THEREFOR AND THE PLACEMENT THEREOF. - ALL MORTGAGES, TRUST DEEDS, OTHER ENCUMBRANCES OR UNSECURED LOANS FORM 990, PART VI, SECTION B, LINE 11B THE 990 PREPARED BY THE AUDITING FIRM AND REVIEWED BY COTTEY COLLEGE'S VICE PRESIDENT FOR FINANCE AND ADMINISTRATION. IT IS THEN REVIEWED BY THE PRESIDENT BEFORE SUBMITTED TO THE BOARD OF TRUSTEE'S FOR REVIEW BEFORE IT IS SUBMITTED TO IRS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF TRUSTEES ALL FILL OUT A CONFLICT OF INTEREST STATEMENT ON A YEARLY BASIS. THE STATEMENT IS REVIEWED BY THE AUDIT, COMPLIANCE AND RISK COMMITTEE. THE LEADERSHIP TEAM IS ALSO REQUIRED TO FILL OUT CONFLICT OF INTEREST STATEMENTS. THOSE STATEMENTS ARE REVIEWED BY THE PRESIDENT. IF A POTENTIAL CONFLICT IS NOTED THOSE ARE INVESTIGATED ON A CASE BY CASE BASIS. A TRUSTEE SHALL BE CONSIDERED TO HAVE A CONFLICT OF INTEREST IF HE OR SHE (1) HAS EXISTING OR POTENTIAL FINANCIAL OR OTHER INTERESTS THAT IMPAIR OR APPEAR TO IMPAIR HIS OR HER INDEPENDENT, UNBIASED JUDGMENT IN THE DISCHARGE OF HIS OR HER RESPONSIBILITIES TO THE COLLEGE; OR (2) IS AWARE THAT A MEMBER OF HIS OR HER FAMILY HAS FINANCIAL OR OTHER INTERESTS THAT WOULD IMPAIR OR APPEAR TO IMPAIR THE TRUSTEE'S INDEPENDENT JUDGEMENT IN THE DISCHARGE OF HIS OR HER RESPONSIBILITIES TO THE COLLEGE. FOR THE PURPOSES OF THIS PROVISION, A FAMILY MEMBER IS DEFINED AS SPOUSE, PARENT, SIBLING, CHILD OR ANY OTHER RELATIVE RESIDING IN THE SAME HOUSEHOLD AS THE TRUSTEE. ALL TRUSTEES SHALL DISCLOSE TO THE BOARD ANY POSSIBLE CONFLICT OF INTEREST AT THE EARLIEST PRACTICAL TIME. FURTHER, THE TRUSTEE SHALL EXCUSE HIMSELF OR HERSELF FROM THE DISCUSSION OF, AND ABSTAIN FROM VOTING ON, SUCH MATTERS UNDER CONSIDERATION BY THE BOARD OF TRUSTEES OR ITS COMMITTEES. THE MINUTES OF SUCH MEETING SHALL REFLECT THAT A DISCLOSURE WAS MADE AND THAT THE TRUSTEE WITH A CONFLICT OR POSSIBLE CONFLICT WAS EXCUSED FROM VOTING. ANY TRUSTEE WHO IS UNCERTAIN AS TO WHETHER A CONFLICT OF INTEREST MAY EXIST IN ANY MATTER MAY REQUEST THE BOARD OR COMMITTEE RESOLVE THE QUESTION IN HIS OR HER ABSENCE BY MAJORITY VOTE. EACH TRUSTEE SHALL COMPLETE AND SIGN A DISCLOSURE FORM PROVIDED ANNUALLY BY THE SECRETARY OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15 THE SALARIES ARE REVIEWED BY THE BOARD ON AN ANNUAL BASIS WITHIN THE BUDGET PROCESS. IN ADDITION, THE COLLEGE LOOKS AT THE INDUSTRY PUBLICATIONS WHEN LOOKING AT SALARIES. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES CONDUCT AN ANNUAL EVALUATION OF THE PRESIDENT AND ALSO REVIEWS AVERAGE COMPENSATION FIGURES FROM A SALARY SURVEY CONDUCTED BY A PROFESSIONAL ORGANIZATION. DELIBERATION IS DOCUMENTED IN THE BOARD MINUTES AND ALSO KEPT IN PERSONNEL FILES. THIS PROCESS WAS LAST COMPLETED IN APRIL 2022. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST TO THE INSTITUTION. FORM 990, PART XI, LINE 9: CHANGE IN SPLIT INTEREST AGREEMENTS -12,009. CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS -1,578,106. FORM 990, PART XII, LINE 2C: THE AUDIT OVERSIGHT PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. AMENDED RETURN THE RETURN IS BEING AMENDED AND REFLECTS THE FOLLOWING CHANGES: - FORM 990, PART I, LINE 3 HAS BEEN CHANGED TO 11 - FORM 990, PART VI, LINE 1A HAS BEEN CHANGED TO 11 - FORM 990, PART VII THE DIRECTOR FIELD HAS BEEN UNCHECKED FOR JANN WEITZEL AND TERRY TUBBS THE AVERAGE HOURS PER WEEK HAVE BEEN INCREASED FROM 3 TO 10 FOR KATHRYN BAYNE - FORM 990, PART IV, LINE 14B WAS MARKED AS "YES AND FORM 990, SCHEDULE F, PART I & PART IV WERE PREPARED TO REFLECT FOREIGN INVESTMENTS HELD BY COTTEY COLLEGE AS OF JUNE 30, 2022 - FORMS 8865 & 926 WERE PREPARED TO REPORT TRANSFERS TO FOREIGN PARTNERSHIPS & CORPORATIONS DURING THE FY22 FISCAL YEAR ENDING 6/30/22 INTERNATIONAL CHAPTER PEO SISTERHOOD 3700 GRANT AVENUE DES MOINES IA 503122899 420453829 PROMOTES WOMEN'S EDUCATION IA 501(C)(4) N/A 0 0 1 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 INTERNATIONAL CHAPTER PEO SISTERHOOD C 815072 ACTUAL AMOUNT