2025-04-28T12:02:51-05:00 2024-06-30 420714325 RSM US LLP 19026 RIDGEWOOD PKWY STE 400 SAN ANTONIO TX 78259 990 2023-07-01 420703280 ST AMBROSE UNIVERSITY STAM 5633336329 518 W LOCUST ST DAVENPORT IA 52803 DR AMY C NOVAK PRESIDENT 5633336329 2025-04-24 1 0 REBECCA A RODRIGUEZ P01073764 2108286281 2025-04-24 2023 2025-03-06 01:10:19Z DR AMY C NOVAK 518 W LOCUST ST DAVENPORT IA 52803 159876825 0 X SAU.EDU X 1885 IA ST. AMBROSE UNIVERSITY - INDEPENDENT, DIOCESAN AND CATHOLIC - ENABLES ITS STUDENTS TO DEVELOP INTELLECTUALLY, SPIRITUALLY, ETHICALLY, SOCIALLY, ARTISTICALLY AND PHYSICALLY TO ENRICH THEIR OWN LIVES AND THE LIVES OF OTHERS. 24 23 1453 83 464623 2498 9237254 11267510 103112298 103536700 8535858 6485045 61965 232786 120947375 121522041 41124511 43611415 0 0 38452658 38461026 0 0 2038202 33837676 34123047 113414845 116195488 7532530 5326553 385748926 410861860 67609140 65058561 318139786 345803299 X MISSION STATEMENT: AN INCLUSIVE, CATHOLIC, AND DIOCESAN COMMUNITY OF LEARNERS, ST. AMBROSE UNIVERSITY EMPOWERS ALL AMBROSIANS TO ACT COURAGEOUSLY, TO SEEK WISDOM THROUGH FAITH AND REASON, TO WORK FOR JUSTICE, AND TO LEAD LIVES OF SERVICE. VISION STATEMENT: ST. AMBROSE UNIVERSITY WILL BE A VIBRANT, SUSTAINABLE, AND LEARNER-FOCUSED MODEL FOR CATHOLIC HIGHER EDUCATION, PREPARING INDIVIDUALS FROM ALL WALKS OF LIFE TO LEAD LIVES CHARACTERIZED BY COURAGE, WISDOM, JUSTICE, AND SERVICE. 0 0 85933428 43611415 86342838 *INSTRUCTION: THE UNIVERSITY'S UNDERGRADUATE AND GRADUATE PROGRAMS ARE MADE UP OF THREE COLLEGES: ARTS AND SCIENCES, BUSINESS AND HEALTH & HUMAN SERVICES. NINE BACHELORS (62 MAJORS), TWELVE MASTERS AND THREE DOCTORAL DEGREES ARE OFFERED. THE UNIVERSITY OFFERS A FALL AND SPRING SEMESTER, PLUS WINTER INTERIM AND SUMMER SESSIONS. *STUDENT AID & SCHOLARSHIPS: THE UNIVERSITY SERVES STUDENTS BY PROVIDING SCHOLARSHIPS AND GRANTS FUNDED BY FEDERAL, STATE, UNIVERSITY AND PRIVATE SOURCES. *STUDENT SERVICES: THE UNIVERSITY SERVES THE STUDENT COMMUNITY BY PROVIDING FINANCIAL AID ASSISTANCE, REGISTRATION, ADMISSIONS, COUNSELING, RESIDENCE LIFE, CAREER DEVELOPMENT, CAMPUS RECREATION, INTERCOLLEGIATE ATHLETICS AND OTHER PROGRAMS. 4205672 16732737 *AUXILIARY ENTERPRISES & ACTIVITIES: THE UNIVERSITY PROVIDES FOOD SERVICE AND HOUSING FOR AN APPROXIMATE CAPACITY OF 1,700 STUDENTS. 7920525 *OTHER PROGRAM SERVICES AND ACADEMIC SUPPORT: INSTITUTIONAL SUPPORT OF THE UNIVERSITY IS ALSO PROVIDED BY THE OFFICES OF THE VICE PRESIDENT FOR ACADEMIC AND STUDENT AFFAIRS AND THE VICE PRESIDENT OF ENROLLMENT MANAGEMENT. 98059625 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 0 1 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 1 3370 0 1 1453 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 24 23 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AZ AL IA LA MD MI NH SC WA X THE ORGANIZATION 5633336329 518 W LOCUST ST DAVENPORT IA 52803 DR AMY C NOVAK PRESIDENT/SECRETARY/TREASURER 40.00 3.00 X X 380609 0 46819 BISHOP T ZINKULA UNTIL 102023 BOARD MEMBER & CO-CHAIR 1.00 X X 0 0 0 BRIAN BASSIER BOARD MEMBER 1.00 X 0 0 0 JOHN BEAR BOARD MEMBER 1.00 X 0 0 0 TOM BERTHEL BOARD MEMBER 1.00 X 0 0 0 KEN BRUNE BOARD MEMBER 1.00 X 0 0 0 EDMUND CARROLL UNTIL 92023 BOARD MEMBER 1.00 X 0 0 0 RENEE CITERA BOARD MEMBER & CO-CHAIR 1.00 X X 0 0 0 PHIL DOHERTY BOARD MEMBER 1.00 X 0 0 0 LAURA EKIZIAN BOARD MEMBER & VICE CHAIR 1.00 X X 0 0 0 JOHN F HECKINGER UNTIL 82023 BOARD MEMBER 1.00 X 0 0 0 FR THOM HENNEN BOARD MEMBER 1.00 X 0 0 0 THOMAS HIGGINS BOARD MEMBER 1.00 X 0 0 0 LYN KETELSEN BOARD MEMBER 1.00 X 0 0 0 MARK KILMER BOARD MEMBER 1.00 X 0 0 0 SR VICKY LARSON BOARD MEMBER 1.00 X 0 0 0 BRIAN LEMEK BOARD MEMBER 1.00 X 0 0 0 ELIZABETH LEMEK BOARD MEMBER 1.00 X 0 0 0 JERRY LYPHOUT BOARD MEMBER 1.00 X 0 0 0 THOMAS MASON IV BOARD MEMBER 1.00 X 0 0 0 REV ROBERT MCALEER BOARD MEMBER 1.00 X 0 0 0 JOSEPH O'ROURKE BOARD MEMBER 1.00 X 0 0 0 CAROLINE RUHL UNTIL 102023 BOARD MEMBER 1.00 X 0 0 0 PAUL SACHS BOARD MEMBER & VICE CHAIR 1.00 X X 0 0 0 JANET SICHTERMAN BOARD MEMBER 1.00 X 0 0 0 PATRICIA SNYDER BOARD MEMBER 1.00 X 0 0 0 BREANN THOMPSON BOARD MEMBER 1.00 X 0 0 0 PAUL THOMPSON BOARD MEMBER 1.00 X 0 0 0 MICHAEL C POSTER VP FINANCE/ASST SECRETARY/TREASURER 40.00 3.00 X 213527 0 37669 DR TOBY ARQUETTE VP COMMUNICATIONS & MARKETING 40.00 X 180594 0 23855 ANNE GANNAWAY VP ADVANCEMENT 40.00 X 148886 0 20659 CHRISTOPHER WAUGH VP STUDENT SUCCESS 40.00 X 126555 0 27592 JOSEPH ROIDT VP ACADEMIC 40.00 X 99652 0 15177 JOHN BYRNE PROFESSOR 40.00 X 168073 0 16472 ARTHUR MOREAU PROFESSOR 40.00 X 174057 0 9154 PATRICK ARCHER ASSOCIATE PROVOST 40.00 X 146265 0 30735 LYNN KILBURG DEAN CHHS 40.00 X 138825 0 30111 MARITZA ESPINA PROFESSOR 40.00 X 133587 0 8588 DR PAUL KOCH UNTIL 62023 FMR VP ACADEMIC & STUDENT AFFAIRS 40.00 X 146738 0 18583 LESHANE SADDLER UNTIL 62023 FMR VP ENROLLMENT MANAGEMENT 40.00 X 137003 0 13109 2194371 0 298523 39 1 1 0 ESTES CONSTRUCTION LLC 131 W 2ND STREET STE 400 DAVENPORT IA 52801 CONSTRUCTION 6459957 SODEXO CAMPUS SERVICES 518 W LOCUST STREET DAVENPORT IA 52803 FOOD SERVICES 4754800 HES INTERMEDIATE HOLDINGS LLC 9202 S NORTHSHORE DR STE 202 KNOXVILLE TN 37922 JANITORIAL SERVICES 1747224 CORE EDUCATION SERVICES PBC 201 N UNION ST STE 110 ALEXANDRIA VA 22314 ACADEMIC FORUMS/BENCHMARKING 1258148 ELLUCIAN COMPANY LP BANK OF AMERICA LOCKBOX CHICAGO IL 60693 LICENSE/MAINTENANCE/CONSULTING 705218 41 16301 270070 747197 10233942 6117589 11267510 EDUCATION/GENERAL 611710 86342838 86342838 AUXILIARY ENTERPRISES 624410 17193862 16732737 461125 103536700 5594353 3498 5590855 140471 34066 106405 106405 106405 37484472 1472044 36715075 1350749 769397 121295 890692 890692 47375 270070 87944 -40569 -40569 333900 166950 166950 166950 121522041 103075575 464623 6714333 43611415 43611415 1486472 221370 1085611 179491 29352848 25298969 3125354 928525 1670526 1384440 224852 61234 3810419 3177365 472156 160898 2140761 1795546 268025 77190 296037 296037 94283 94283 515177 515177 3519636 375368 2961305 182963 1660745 152359 1485833 22553 1060244 675541 302046 82657 1176032 1176032 2124415 1599711 481905 42799 1389832 1283246 71133 35453 8944 1749 7195 2414486 2414486 6403558 5875023 398027 130508 829978 647910 178206 3862 FOOD COSTS 4683679 4636526 1996 45157 OTHER EXPENSES 3449449 1261414 2137174 50861 EQUIPMENT & MAINTENANCE 2755590 2620235 103439 31916 SPECIAL EXPENSES 518283 518283 1222679 1026952 193592 2135 116195488 98059625 16097661 2038202 8449391 8460833 3613915 4634745 1542904 1797050 2003670 16115510 1876841 1485752 228677882 101851565 143508668 126826317 180644959 204354817 43640161 45159346 447340 358404 21077 1669086 385748926 410861860 9327689 9564565 2045602 1764094 50187239 47264053 123195 100763 5925415 6365086 67609140 65058561 X 269346923 284567944 48792863 61235355 318139786 345803299 385748926 410861860 X 5326553 21085620 91841 247 1159252 X X 0 1 X 1 1 1 X 7081824 10843728 13433304 9237254 11359351 51955461 7081824 10843728 13433304 9237254 11359351 51955461 3846499 48108962 6030074 3633125 5869866 7301353 5731326 28565744 62077 18518 5613 3498 89706 333900 333900 80944811 508271823 0.59430 0.57330 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: SALE OF INVENTORY RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 0 0 0 0 0 PART II-B, LINE 1: ST. AMBROSE UNIVERSITY DID NOT UTILIZE THE USE OF A LOBBYIST TO ACCESS FEDERAL GRANTS AND OTHER FEDERAL FUNDS. 219272989 7323200 26715770 1200502 441284 4233875 247436298 194047309 6236328 24255948 598450 223100 4445045 219272990 211916395 2125685 -17001497 760817 223100 2009357 194047309 169737263 3724744 42271143 644563 223100 2949094 211916393 171530907 1384246 2639101 721649 2171102 2929240 169732263 0.76480 0.12730 0.10790 1 0 8241268 8241268 7229603 180987190 78403611 109813182 6454756 4071768 2382988 25508921 19358074 6150847 256144 18112 238032 126826317 CASH VALUE OF LIFE INSURANCE 285783 F ALTERNATIVE INVESTMENTS 44873563 F 45159346 INTEREST RATE SWAPS 2001889 US GOVERNMENT GRANTS 1421830 ANNUITIES PAYABLE 1273369 LEASE LIABILITY 1667998 6365086 X PART V, LINE 4: TO FUND A SPECIFIED EDUCATIONAL PURPOSE, SUCH AS A SCHOLARSHIP, AWARD, ACADEMIC CHAIR, SUPPLIES, BUILDING, OR EQUIPMENT. PART X, LINE 2: THE UNIVERSITY IS RECOGNIZED AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE UNIVERSITY MAY BE SUBJECT TO FEDERAL AND STATE INCOME TAXES ON ANY NET INCOME FROM UNRELATED BUSINESS ACTIVITIES. THE UNIVERSITY FILES A FORM 990 (RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX) ANNUALLY AND UNRELATED BUSINESS INCOME (UBI) IS REPORTED ON FORM 990-T, AS APPROPRIATE. MANAGEMENT HAS EVALUATED THEIR MATERIAL TAX POSITIONS, WHICH INCLUDE SUCH MATTERS AS THE TAX-EXEMPT STATUS OF THE ENTITY AND VARIOUS POSITIONS RELATIVE TO POTENTIAL SOURCES OF UBI. AS OF JUNE 30, 2024 AND 2023, THERE WERE NO UNCERTAIN TAX BENEFITS IDENTIFIED AND RECORDED AS A LIABILITY. 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 RACIALLY NONDISCRIMINATORY POLICIES OF THE SCHOOL ARE INCLUDED ON THE UNIVERSITY WEBSITE. SCHEDULE E, PART I, LINE 6 U.S DEPARTMENT OF EDUCATION: - FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT - FEDERAL WORK-STUDY PROGRAM - FEDERAL PERKINS LOAN PROGRAM - FEDERAL PELL GRANT PROGRAM - FEDERAL DIRECT STUDENT LOANS: STAFFORD LOAN, PLUS LOAN - TEACHER EDUCATION ASSISTANCE FOR COLLEGE AND HIGHER EDUCATION GRANT - POST-SECONDARY EDUCATION SCHOLARSHIP FOR VETERAN'S DEPENDENTS STATE OF IOWA PROGRAMS INCLUDE: - IOWA TUITION GRANT - EDUCATION TRAINING VOUCHER (ETV) - IOWA NATIONAL GUARD EDUCATIONAL ASSISTANCE GRANT - ALL IOWA OPPORTUNITY FOSTER CARE GRANT CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 18210469 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 24061005 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STUDY ABROAD 49291 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY ABROAD 363 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDY ABROAD 142404 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 17982 SOUTH ASIA 0 0 PROGRAM SERVICES STUDY ABROAD 16575 0 0 0 0 0 0 42498089 0 42498089 1 0 1 0 1 0 WINE FESTIVAL 244380 208155 36225 0 0 6292 20767 0 46209 GOLF CLASSIC 66610 55460 11150 0 0 7084 4024 0 1119 1 6455 6455 1844 605 0 0 317445 270070 47375 15220 25396 47328 87944 -40569 1 STUDENT SCHOLARSHIPS 2037 37435704 0 ATHLETIC SCHOLARSHIPS 934 4153121 0 EMPLOYEE SCHOLARSHIPS 130 2022590 0 PART I, LINE 2: THE FINANCIAL AID OFFICE MONITORS COMPLIANCE WITH GRANT/SCHOLARSHIP CRITERIA ON AN INDIVIDUAL STUDENT BASIS. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 DR AMY C NOVAK PRESIDENT/SECRETARY/TREASURER 350918 0 0 0 29691 0 24802 0 22017 0 427428 0 0 0 MICHAEL C POSTER VP FINANCE/ASST SECRETARY/TREASURER 203548 0 0 0 9979 0 15355 0 22314 0 251196 0 0 0 DR TOBY ARQUETTE VP COMMUNICATIONS & MARKETING 175537 0 0 0 5057 0 12903 0 10952 0 204449 0 0 0 JOHN BYRNE PROFESSOR 168073 0 0 0 0 0 6909 0 9563 0 184545 0 0 0 ARTHUR MOREAU PROFESSOR 174057 0 0 0 0 0 0 0 9154 0 183211 0 0 0 PATRICK ARCHER ASSOCIATE PROVOST 146265 0 0 0 0 0 10049 0 20686 0 177000 0 0 0 ANNE GANNAWAY VP ADVANCEMENT 145493 0 0 0 3393 0 10405 0 10254 0 169545 0 0 0 LYNN KILBURG DEAN CHHS 138825 0 0 0 0 0 9687 0 20424 0 168936 0 0 0 DR PAUL KOCH UNTIL 62023 FMR VP ACADEMIC & STUDENT AFFAIRS 141881 0 0 0 4857 0 8624 0 9959 0 165321 0 0 0 CHRISTOPHER WAUGH VP STUDENT SUCCESS 121300 0 0 0 5255 0 8962 0 18630 0 154147 0 0 0 LESHANE SADDLER UNTIL 62023 FMR VP ENROLLMENT MANAGEMENT 132748 0 0 0 4255 0 2878 0 10231 0 150112 0 0 0 PART I, LINE 1A DR. AMY C. NOVAK (PRESIDENT/BOARD SEC/TREASURER) HAD A HOUSING ALLOWANCE OF $25,500. THIS WAS CONSIDERED TAXABLE COMPENSATION. DR. AMY C. NOVAK (PRESIDENT/BOARD SEC/TREASURER), MICHAEL C. POSTER (VP OF FINANCE), DR. PAUL KOCH (VP ACADEMIC AND STUDENT AFFAIRS), LESHANE SADDLER (VP FOR ENROLLMENT MANAGEMENT), ANNE GANNAWAY (VP OF ADVANCEMENT), CHRISTOPHER WAUGH (VP OF STUDENT AFFAIRS) AND DR. TOBY ARQUETTE (VP OF COMMUNICATIONS & MARKETING) RECEIVED PERSONAL USAGE FROM UNIVERSITY ISSUED AUTOMOBILES OF $3,591, $9,379, $4,507, $3,955, $2,793, $5,255 AND $4,457 RESPECTIVELY. THIS WAS CONSIDERED TAXABLE COMPENSATION. THE UNIVERSITY WILL NOT REIMBURSE INDIVIDUALS FOR TRAVEL, MEALS AND ENTERTAINMENT EXPENSES INCURRED FOR A SPOUSE, DEPENDENT OR OTHER INDIVIDUAL WHO ACCOMPANIES AN INDIVIDUAL ON A BUSINESS TRIP OR UNIVERSITY EVENT UNLESS THE PRESENCE OF THE SPOUSE, DEPENDENT OR OTHER INDIVIDUAL ON A TRIP OR AT A UNIVERSITY EVENT IS FOR A BONA FIDE BUSINESS PURPOSE. INDIVIDUALS MUST OBTAIN APPROVAL FOR THE EXPENSES RELATED TO SPOUSES, DEPENDENTS OR OTHER INDIVIDUALS FROM THE VICE PRESIDENT OF FINANCE PRIOR TO THEIR TRIP OR UNIVERSITY EVENT. A IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 4624606P6 2017-06-01 10805845 SEE PART VI 0 0 0 B IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 2022-12-01 42370000 SEE PART VI 0 0 0 A 2495000 10805845 10605863 170713 2012 1 0 1 1 B 1595000 42370000 42370000 2009 1 0 1 1 A 0 1 1 1 0 0.00000 0.00000 0.00000 0 0 1 B 0 1 1 1 0 0.00480 0.00000 0.00480 0 0 1 A 0 0 1 1 0 0 0 0 1 B 0 0 1 1 1 0 0 0 1 A 1 B 1 SCHEDULE K, PART I, COLUMN F - DESCRIPTION OF PURPOSE: LINE A, 2017 BONDS: ADVANCE REFUNDING THE IOWA HIGHER EDUCATION LOAN AUTHORITY PRIVATE COLLEGE FACILITY BONDS ISSUED 12/16/2011. LINE B, 2022 BONDS: THE 2022 BONDS REFUNDED THE 2016 BONDS ISSUED FEBRUARY 1, 2016. SCHEDULE K, PART II, LINE 11 - OTHER SPENT PROCEEDS: COLUMN B, 2022 BONDS: REFUNDING THE IOWA HIGHER EDUCATION LOAN AUTHORITY VARIABLE RATE DEMAND PRIVATE COLLEGE FACILITY REVENUE AND REFUNDING BONDS ISSUED FEBRUARY 1, 2016. SCHEDULE K, PART IV, LINE 2C - DATE THE REBATE COMPUTATION PERFORMED: COLUMN A, 2017 BONDS: 09/13/2017 COLUMN B, 2022 BONDS: 11/23/2023 MARK KILMER BOARD MEMBER 33341 FAMILY MEMBERS OF MARK KILMER OWN MORE THAN 35% OF REPUBLIC COMPANIES THAT THE ORGANIZATION PAID FOR EQUIPMENT. 0 X 16 5784302 AVG HIGH/LOW X MISCELLANEOUS 24 291688 COST X FUNDRAISING ITEMS 8 41599 COST 0 0 1 0 PART I, COLUMN (B): REPORTING THE NUMBER OF CONTRIBUTIONS. FORM 990, PAGE 1, LINE 6, VOLUNTEER ACTIVITIES: ALL FUNDRAISING EVENTS HAVE VOLUNTEER COMMITTEES THAT HELP PLAN AND IMPLEMENT THESE EVENTS. OTHER VOLUNTEERS SERVE ON ADVANCEMENT COMMITTEES. THE ALUMNI BOARD HAS MEMBERS WHO REPRESENT THE UNIVERSITY AT CERTAIN ALUMNI EVENTS. ALUMNI HAVE BEEN RECRUITED TO SERVE ON ADVISORY COUNCILS INCLUDING, THOSE REPRESENTING THE ACADEMIC COLLEGES, SPECIFIC PROGRAMS SUCH AS COMPUTER SCIENCE AND ENGINEERING, AS WELL AS ASPECTS OF STUDENT LIFE LIKE CAMPUS MINISTRY. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL CONSIST OF OFFICERS OF THE BOARD OF TRUSTEES AND THE CHAIRPERSONS OF EACH OF THE STANDING COMMITTEES (ACADEMIC AND STUDENT AFFAIRS, ADVANCEMENT, FINANCE AND INVESTMENT, BUILDINGS AND GROUNDS, ENROLLMENT MANAGEMENT, GOVERNANCE AND NOMINATING, AUDIT AND EVALUATION AND COMPENSATION OF THE PRESIDENT). THIS COMMITTEE MAY EXERCISE, WHEN THE FULL BOARD OF TRUSTEES IS NOT IN SESSION, ALL OF THE POWERS VESTED IN THE BOARD OF TRUSTEES, EXCEPT: - THE POWER TO ELECT, APPOINT OR REMOVE TRUSTEES OR TO FILL VACANCIES ON THE BOARD OF TRUSTEES - THE POWER TO CHANGE MEMBERSHIP OF, OR TO FILL VACANCIES IN THE EXECUTIVE COMMITTEE - THE POWER TO APPOINT THE PRESIDENT OF THE UNIVERSITY - THE POWER TO MAKE, ALTER, RESTATE, AMEND OR REPEAL THE RESTATED ARTICLES OF INCORPORATION OR BYLAWS OF THE CORPORATION - THE POWER TO AUTHORIZE ANY SINGLE EXPENDITURE IN EXCESS OF $500,000 AND CUMULATIVE EXPENDITURES IN EXCESS OF $2,000,000 DURING ANY FISCAL YEAR - THE POWER TO ADOPT A PLAN OF MERGER OR CONSOLIDATION - THE RIGHT TO SELL, ENCUMBER, LEASE OR EXCHANGE OR MAKE OTHER DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF THE PROPERTY AND ASSETS OF THE CORPORATION OR TO EFFECT A VOLUNTARY DISPOSITION OF THE CORPORATION OR A REVOCATION THEREOF - ANY OTHER POWERS WHICH MAY BE EXPRESSLY OR SPECIFICALLY WITHHELD BY RESOLUTION OF THE BOARD OF TRUSTEES THE OFFICERS OF THE BOARD OF TRUSTEES ARE DEFINED AS THE CO-CHAIRS, THE VICE CHAIRS, THE SECRETARY/TREASURER AND THE ASSISTANT SECRETARY/ASSISTANT TREASURER. THE ONLY MEMBER OF THE EXECUTIVE COMMITTEE WHO IS NOT A MEMBER OF THE BOARD OF TRUSTEES IS THE ASSISTANT SECRETARY/ASSISTANT TREASURER. FORM 990, PART VI, SECTION A, LINE 2 - LAURA EKIZIAN, CAROLINE RUHL (UNTIL 10/2023), BRIAN BASSIER AND MARK KILMER - BUSINESS RELATIONSHIP - BRIAN LEMEK AND ELIZABETH LEMEK - FAMILY RELATIONSHIP - PAUL THOMPSON AND BREANN THOMPSON - FAMILY RELATIONSHIP FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF IRS FORM 990 IS PROVIDED TO THE UNIVERSITY'S AUDIT COMMITTEE PRIOR TO THE JANUARY COMMITTEE MEETING. THE COMMITTEE REVIEWS THE 990 AND APPROVES THE RETURN SUBJECT TO ANY REQUESTED CHANGES. THE 990 IS THEN PROVIDED TO ALL BOARD OF TRUSTEE MEMBERS PRIOR TO THE APRIL BOARD OF TRUSTEES MEETING. THE BOARD REVIEWS AND APPROVES THE RETURN DURING THIS MEETING. FORM 990, PART VI, SECTION B, LINE 12C ALL PURCHASE ORDERS MUST BE APPROVED BY THE UNIVERSITY'S GENERAL ACCOUNTING OFFICE. ALL MATERIAL PURCHASE ORDERS MUST BE APPROVED BY THE UNIVERSITY'S VICE PRESIDENT FOR FINANCE. ALL MATERIAL PURCHASES THAT WOULD REQUIRE APPROVAL UNDER THE CONFLICT OF INTEREST QUESTIONNAIRE WOULD BE IDENTIFIED DURING THESE REVIEWS. ON AN ANNUAL BASIS THE UNIVERSITY'S GENERAL ACCOUNTING OFFICE COMPARES THE RESPONSES IN THE CONFLICT OF INTEREST QUESTIONNAIRES TO THE UNIVERSITY'S ACCOUNTING RECORDS TO ENSURE THEY ARE COMPLETE. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE UNIVERSITY'S PRESIDENT IS THE RESPONSIBILITY OF THE BOARD OF TRUSTEES OF THE UNIVERSITY. THE BOARD OF TRUSTEES HAS AN EVALUATION AND COMPENSATION OF THE PRESIDENT COMMITTEE. IN ADDITION TO RECOMMENDING THE SALARY AND BENEFIT PACKAGE FOR THE PRESIDENT, THIS COMMITTEE ALSO HANDLES THE ANNUAL EVALUATION OF THE PRESIDENT. EVERY FIVE YEARS THE COMMITTEE OBTAINS A STUDY FROM A CONSULTING FIRM SPECIALIZING IN HUMAN RESOURCE MATTERS TO COMPARE THE SALARY AND BENEFITS OF THE UNIVERSITY'S PRESIDENT TO INDUSTRY MEDIANS FOR INSTITUTIONS OF HIGHER EDUCATION SIMILAR IN SIZE AND SCOPE. THIS STUDY LOOKS AT NATIONAL TRENDS IN ADDITION TO COMPENSATION LEVELS IN THE MIDWEST REGION. IN THE YEARS BETWEEN THESE STUDIES, THE COMMITTEE OBTAINS INDUSTRY DATA FROM SOURCES SUCH AS THE COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION FOR HUMAN RESOURCES (CUPA-HR). GENERALLY IN LATE JUNE TO EARLY JULY, THE COMMITTEE ASKS THE PRESIDENT TO COMPLETE A SELF-EVALUATION OF HIS OR HER PERFORMANCE FOR THE PAST YEAR. THIS SELF-EVALUATION IS REVIEWED AND A SUMMARY OF THE PRESIDENT'S PERFORMANCE AND FUTURE GOALS IS COMPLETED BY THE COMMITTEE. THE COMMITTEE MEETS WITH THE PRESIDENT PRIOR TO THE OCTOBER BOARD MEETING TO DISCUSS HIS OR HER PERFORMANCE. THE COMMITTEE REVIEWS THE COMPENSATION OF THE PRESIDENT AND COMPARES IT TO THE INDUSTRY DATA NOTED ABOVE. THE COMMITTEE THEN DELIBERATES AND RECOMMENDS A SALARY AND BENEFIT PACKAGE THAT WILL BE PRESENTED TO THE BOARD OF TRUSTEES FOR THEIR APPROVAL. THE DISCUSSION AND DECISION OF THE COMMITTEE IS DOCUMENTED IN THEIR MINUTES. THE SALARY AND BENEFIT PACKAGE IS PRESENTED TO THE BOARD OF TRUSTEES FOR APPROVAL DURING THE OCTOBER BOARD MEETING. THE DELIBERATION AND DECISION OF THE BOARD OF TRUSTEES IS DOCUMENTED IN THEIR MINUTES. THE FOLLOWING IS THE PROCESS FOR SETTING THE SALARY AND BENEFITS OF THE VICE PRESIDENTS AND KEY EMPLOYEES: THE COMPENSATION AND BENEFITS OF THE UNIVERSITY'S VICE PRESIDENTS AND KEY EMPLOYEES IS THE RESPONSIBILITY OF THE PRESIDENT. ON AN ANNUAL BASIS THE PRESIDENT HAS EACH VICE PRESIDENT PREPARE A SELF EVALUATION. THE PRESIDENT REVIEWS THE SELF EVALUATION AND DOCUMENTS HIS OR HER EVALUATION OF THE VICE PRESIDENT'S PERFORMANCE. THE EVALUATION OF KEY EMPLOYEES IS THE RESPONSIBILITY OF THEIR DIRECT SUPERVISOR. THE PRESIDENT OBTAINS INDUSTRY DATA FROM CUPA-HR AND REVIEWS THE COMPENSATION AND BENEFIT LEVELS OF EACH VICE PRESIDENT AND KEY EMPLOYEE BEFORE SETTING THEIR SALARY AND BENEFITS. THE PRESIDENT THEN COMMUNICATES THIS INFORMATION TO THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE GENERAL PUBLIC. FORM 990, PART XI, LINE 9: UNREALIZED GAIN/(LOSS) ON INTEREST RATE SWAP 1,136,272. UNREALIZED GAIN/(LOSS) ON SWAP SETTLEMENTS 201,286. CHANGE IN PRESENT VALUE OF ANNUITIES -178,306. AMBROSE VENTURES 518 W LOCUST ST DAVENPORT IA 52803 OFFER NONCREDIT PROGRAMS AND OTHER UNIQUE EDUCATIONAL OFFERINGS IA -884572 159728 ST AMBROSE UNIVERSITY AMBROSE & LECLAIRE HALLS LLC 518 W LOCUST ST DAVENPORT IA 52803 843953168 LEASES THE SHELL OF LECLAIRE HALL FROM UNIVERSITY IA N/A 0 0 AMBROSE & LECLAIRE HALLS MANAGING MEMBER LLC 518 W LOCUST ST DAVENPORT IA 52803 934767846 HISTORIC TAX CREDITS IA N/A 0 0 AMBROSE & LECLAIRE HALLS MANAGER INC 518 W LOCUST ST DAVENPORT IA 52803 934801163 HISTORIC TAX CREDITS IA ST AMBROSE UNIVERSITY C -29 1.00000 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 AMBROSE & LECLAIRE HALLS LLC J 99000 FMV