2023-05-11T09:11:15-05:00 2022-06-30 410746749 CLIFTONLARSONALLEN LLP 8215 GREENWAY BOULEVARD SUITE 600 MIDDLETON WI 53562 990 2021-07-01 370661496 CARTHAGE COLLEGE CART 2625518500 2001 ALFORD PARK DR KENOSHA WI 53140 VINCENTE J CEJA CFO, AVP FOR FINANCE AND ADMIN 2625518500 2023-05-03 1 VINCENTE CEJA XXX-XX-XXXX KIMBERLY ANDERSON P00188889 6086628600 2023-05-03 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z JOHN R SWALLOW 2001 ALFORD PARK DR KENOSHA WI 53140 133406989 0 X WWW.CARTHAGE.EDU X 1870 IL SEE SCHEDULE O.CARTHAGE IS A SCHOOL OF LIBERAL ARTS AND SCIENCES PROVIDING STUDENTS WITH A COLLEGE EDUCATION. CARTHAGE IS AFFILIATED WITH THE EVANGELICAL LUTHERAN CHURCH OF AMERICA. 30 28 2315 125 1434282 0 12389234 18973072 101427602 109279118 3203009 4162047 8137494 55924 125157339 132470161 39743156 42566199 0 0 39200386 38820573 0 0 2149136 35930235 42637301 114873777 124024073 10283562 8446088 408772143 389285696 106151840 108353998 302620303 280931698 X SEEKING TRUTH, BUILDING STRENGTH, INSPIRING SERVICE - TOGETHER 0 0 69417162 42551199 83938866 INSTRUCTION: CARTHAGE COLLEGE AWARDS THE BACHELOR OF ARTS DEGREES WITH MAJORS IN MORE THAN 50 SUBJECT AREAS AND 6 MASTER DEGREES. THE 2021-2022 ACADEMIC YEAR ENROLLMENT WAS 2,666 FULL TIME EQUIVALENT (FTE) STUDENTS IN THE FALL SEMESTER AND 2,391 FTE STUDENTS ENROLLED IN THE SPRING SEMESTER. OF THE TOTAL NUMBER OF STUDENTS ENROLLED IN 2021-2022 ACADEMIC YEAR, 585 MET THE UNDERGRADUATE REQUIREMENTS OF GRADUATION, 42 MET THE GRADUATE REQUIREMENTS FOR THE MASTERS IN EDUCATION, 14 MET THE GRADUATE REQUIREMENTS FOR THE MASTERS IN SCIENCE AND 11 MET THE GRADUATE REQUIREMENTS FOR MASTERS IN MUSIC. 7222755 1034382 INSTITUTIONAL SUPPORT AT CARTHAGE COLLEGE IS COMPRISED OF SERVICES THAT SUPPORT ADMINISTRATIVE FUNCTIONS OF THE COLLEGE INCLUDING PRESIDENT'S OFFICE, ADVANCEMENT, COMMUNICATIONS, FINANCE & ADMINISTRATIVE SERVICES, AND GENERAL INSTITUTIONAL EXPENSES. 14501623 974163 STUDENT SERVICES: CARTHAGE BOASTS A LONG-STANDING COMMITMENT TO EDUCATING THE WHOLE PERSON BY NOURISHING THE INTELLECTUAL, SPIRITUAL, EMOTIONAL, SOCIAL AND PHYSICAL DIMENSIONS OF STUDENTS' LIVES. THE COLLEGE OFFERS A CURRICULUM THAT CHALLENGES STUDENTS TO THINK CRITICALLY AND EXPRESS THEMSELVES EFFECTIVELY, A CAMPUS LIFE THAT ENCOURAGES INVOLVEMENT AND SERVICE (OVER 120 STUDENT ORGANIZATIONS), A COMMUNITY OF FAITH THAT NURTURES SPIRITUAL GROWTH AND DEVELOPS MORAL RESPONSIBILITY, AND CO-CURRICULAR ACTIVITIES THAT INSPIRE STUDENTS TO TEST THEIR OWN LIMITS AND EXPRESS THEIR INDIVIDUALITY. THE AWARD-WINNING STATE-OF-THE-ART HEDBERG LIBRARY UNITES BOOKS, PERIODICALS, ACADEMIC COMPUTING, NETWORK DATA PORTS AND MULTIMEDIA RESOURCES. 8725495 15000 21897425 AUXILIARY ENTERPRISES AT CARTHAGE COLLEGE ARE COMPRISED OF 13 RESIDENCE HALLS ON CAMPUS, 8 DINING VENUES, AND A BOOKSTORE FOR STUDENTS, FACULTY AND STAFF. OF THE TOTAL STUDENT BODY, 64.7% OF ENROLLED STUDENTS LIVED ON-CAMPUS AND PARTICIPATED IN THE RESIDENT STUDENT BOARD PLAN. 1,726 STUDENTS RESIDED IN CAMPUS HOUSING DURING THE 2021-2022 ACADEMIC YEAR. 8725495 15000 21897425 99867035 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 3803 0 2315 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 30 28 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 1 0 0 X VINCENTE J CEJA 2625515763 2001 ALFORD PARK DRIVE KENOSHA WI 53140 JEFFREY H HAMAR TRUSTEE, CHAIR 1.00 X X 0 0 0 GINA MADRIGRANO FRIEBUS TRUSTEE, FIRST VICE CHAIR 1.00 X X 0 0 0 HOYT HARPER II TRUSTEE, SECOND VICE CHAIR 1.00 X X 0 0 0 DENNIS L MONROE TRUSTEE, SECRETARY 1.00 X X 0 0 0 DAVID C WIERS TRUSTEE, SECRETARY 1.00 X X 0 0 0 PATRICK N ANDERSON TRUSTEE 1.00 X 0 0 0 MARY O BISHOP TRUSTEE 1.00 X 0 0 0 LUCY BROWN MINN TRUSTEE 1.00 X 0 0 0 RICHARD M CHRISTMAN TRUSTEE 1.00 X 0 0 0 HON CYNTHIA T WALKER TRUSTEE 1.00 X 0 0 0 REV DR PAUL D ERICKSON TRUSTEE 1.00 X 0 0 0 CHRISTINE A HOBBS TRUSTEE 1.00 X 0 0 0 STEVEN J HOPP TRUSTEE 1.00 X 0 0 0 THOMAS J KELLEY III TRUSTEE 1.00 X 0 0 0 THOMAS E KIESO TRUSTEE 1.00 X 0 0 0 FREDERICK J KRULL TRUSTEE 1.00 X 0 0 0 RICHARD LABERGE TRUSTEE 1.00 X 0 0 0 ROBERT E LEE JR TRUSTEE 1.00 X 0 0 0 THOMAS MARTINEZ TRUSTEE 1.00 X 0 0 0 REV WAYNE N MILLER TRUSTEE 1.00 X 0 0 0 ALAN K MILLS TRUSTEE 1.00 X 0 0 0 MARIA NALYWAYKO TRUSTEE 1.00 X 0 0 0 JEFFREY A NEUBAUER TRUSTEE 1.00 X 0 0 0 ANDREW S PALMEN TRUSTEE 1.00 X 0 0 0 NICHOLAS T PINCHUK TRUSTEE 1.00 X 0 0 0 LEANN PEDERSEN POPE TRUSTEE 1.00 X 0 0 0 CHARLES C SUTTON TRUSTEE 1.00 X 0 0 0 GARY D WILSON TRUSTEE 1.00 X 0 0 0 JOHN SWALLOW PRESIDENT & CHIEF EXECUTIVE OFFICER 40.00 X 483858 0 123659 VINCENTE CEJA ASSOCIATE VP FOR FINANCE AND CFO 40.00 X 138657 0 22231 DAVID TIMMERMAN PROVOST AND CHIEF OPERATING OFFICER 40.00 X 217407 0 71758 ABIGAIL HANNA VP FOR ADMIN PLANNING AND INNOVATION 40.00 X 174747 0 45836 NICHOLAS MULVEY VP FOR ENROLLMENT 40.00 X 162628 0 56226 KIMBERLIE GOLDSBERRY VP FOR STUDENT AFFAIRS - DEAN OF STUDENTS 40.00 X 182577 0 24863 THOMAS KLINE VP FOR INSTITUTIONAL ADVANCEMENT 40.00 X 154195 0 7616 KEVIN CROSBY DIRECTOR FOR THE WISCONSIN SPACE GRANT CONSORTIUM 40.00 X 188284 0 54187 LISA M HINKLEY ASSOCIATE VP FOR CAREER AND PROF DEVELOPMENT 40.00 X 149158 0 23075 MICHELE HANCOCK VP FOR COLLEGE CULTURE FOR INCLUSION 40.00 X 157639 0 8054 STACI CARSON ASSOCIATE VP FOR INSTITUTIONAL ADVANCEMENT 40.00 X 130954 0 7045 MICHELE HOBBINS ASSOCIATE VP FOR INFORMATION TECHNOLOGY 40.00 X 130215 0 6384 2270319 0 450934 40 0 1 0 AVAAP USA LLC 510 THORNALL STREET SUITE 250 EDISON NJ 08837 ERP IMPLEMENTATION 1444373 UNIVERSAL PROTECTION SERVICE LP 1551 N TUSTIN AVE STE 650 SANTA ANA CA 92705 SECURITY 539516 KOCH KUTS KKC P O BOX 734 BURLINGTON WI 53105 LANDSCAPING 379162 GO AUDIO 9645 S 54TH ST UNIT SOUTH FRANKLIN WI 53132 EVENT SERVICES 262933 MEAT ON THE STREET LLC 1125 N 9TH ST MILWAUKEE WI 53233 FOOD SERVICE 192049 14 34377 7838017 11100678 4516386 18973072 TUITION AND FEES 611710 83938866 83938866 AUX. ENTERPRISE 611710 23331707 21897425 1434282 OTHER INCOME 611710 1034382 1034382 OTHER STUDENT SERVICES 611710 974163 974163 109279118 2687134 2687134 21317 0 21317 21317 21317 2380337 720097 185327 1660240 -185327 1474913 1474913 63731 34377 30264 33467 33467 2280 1140 1140 1140 132470161 107844836 1434282 4217971 15000 15000 42551199 42551199 1783205 1305494 437733 39978 28450175 20828530 6983814 637831 1256251 919708 308379 28164 5298941 3879384 1300759 118798 2032001 1487639 498806 45556 154062 108475 41460 4127 121027 85215 32570 3242 145291 145291 6197476 4363642 1667822 166012 1206863 849752 324783 32328 3101457 2183735 834643 83079 2897272 2039969 779694 77609 11287576 7947581 3037635 302360 2253897 1586969 606553 60375 94788 66740 25509 2539 1235792 740147 495645 8166917 5122668 2678702 365547 1235030 869584 332363 33083 GENERAL INSTITUTIONAL 4539853 2915604 1475741 148508 124024073 99867035 22007902 2149136 7288348 8174483 1971022 3284417 45109006 51222910 1529732 932928 1941562 2187090 278665495 94812650 182983370 183852845 167097976 138736750 797495 798107 53632 96166 408772143 389285696 5056409 4510211 1593662 1405418 50506375 56714269 45560000 43010000 241122 0 3194272 2714100 106151840 108353998 X 167735322 166141603 134884981 114790095 302620303 280931698 408772143 389285696 X 8446088 -29972949 -161744 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3832900 4066249 X X X X 0 164311119 2188928 -25883140 4412010 136204897 124578458 1319378 42314392 3901109 164311119 123918518 1308351 4414373 5062784 124578458 108980136 774168 6296660 4645160 -12512714 123918518 106774647 -4789990 10313267 3386459 -68671 108980136 0.25310 0.29140 0.45550 0 0 763535 763535 219741371 61812437 157928934 49650017 31280443 18369574 8510572 1719770 6790802 183852845 ANNUITIES PAYABLE 1223988 ASSET RETIREMENT OBLIGATION 326038 INTEREST RATE SWAP LIABILITY 153155 DEPOSITS HELD IN CUSTODY FOR OTHERS 1010919 2714100 X 85138036 44005 31404 75409 85062627 145291 47262243 47407534 132470161 106826641 44005 30166097 30210102 76616539 145291 47262243 47407534 124024073 PART III, LINE 4: PALUMBO CIVIL WAR COLLECTION - ON SEMI-PERMANENT DISPLAY AT KENOSHA CIVIL WAR MUSEUM, AND A GEMSTONE COLLECTION. "FACE OF LINCOLN" - ON DISPLAY SAMUEL SCHOEN RUSSIAN ART COLLECTION, "PEONIES & STRAWBERRIES, AND OTHER RUSSIAN ARTWORK - IN KEEPING WITH CARTHAGE'S COMMITMENT TO PROVIDING A HIGH QUALITY EDUCATIONAL EXPERIENCE WITHIN THE LIBERAL ARTS, THE COLLEGE SEEKS TO UTILIZE ITS RECENTLY ACQUIRED COLLECTION OF RUSSIAN ARTWORK IN A SERIES OF EDUCATIONAL AND PUBLIC-FACING PROGRAMS THAT WOULD ENHANCE THE REPUTATION OF THE COLLEGE AS A SEAT OF THE ARTS AND HUMANITIES IN SOUTHEASTERN WISCONSIN, AND SUPPORT CONNECTIONS WITH OTHER CULTURAL INSTITUTIONS IN OUR REGION. OUR VISION FOR USE OF THE ARTWORKA COLLECTION OF OVER 130 PAINTINGS RANGING FROM PERIODS OF RUSSIAN IMPRESSIONISM, SOVIET REALISM, AND THE PRE-SOVIET "WANDERING" PERIODIS TO CREATE A CONVENING FORCE THAT WILL DRAW PEOPLE TO THE COLLEGE, ELEVATE THE COLLEGE'S CULTURAL OFFERINGS, AND FOSTER SCHOLARLY ACTIVITY AND SUBSTANTIVE DISCUSSION RELATED TO THE PIECES AND THE SOCIAL-HISTORICAL CONTEXT OF THEIR PRODUCTION, AS WELL AS THE MEANING OF ART IN THE CONSTRUCTION OF NATIONAL CONSCIOUSNESS AND COMMUNITY IDENTITY. OUR GOAL IS NOT MERELY TO COMMUNICATE THE HISTORY AND CONTEXT OF THE PIECES, BUT TO FOSTER NEW WAYS OF TALKING ABOUT ART AND ARTISTIC PRODUCTION AS A FULLY EMBEDDED SOCIAL-HISTORICAL PROCESS, AND TO EXAMINETHROUGH THESE AND OTHER FORMS OF ARTISTIC EXPRESSIONTHE MYRIAD WAYS THAT ART INTERSECTS WITH POLITICS, POLICY, COMMUNITY AND IDENTITY. THE COLLEGE HAS DEVELOPED A MULTI-YEAR PLAN THAT WILL BUILD TOWARD A NATIONALLY RECOGNIZED PROGRAM FOR OUTREACH AND EDUCATION AND WILL SUPPORT RESEARCH, SCHOLARLY PRODUCTION, CULTURAL EXPERIENCES, AND NATIONAL AND INTERNATIONAL COLLABORATIONS. PART V, LINE 4: THE ENDOWMENT FUNDS ARE USED TO FUND SCHOLARSHIPS, EDUCATIONAL PROJECTS, AND OTHER VARIOUS PURPOSES. PART X, LINE 2: THE INTERNAL REVENUE SERVICE (IRS) HAS DETERMINED THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, THE COLLEGE IS NOT SUBJECT TO FEDERAL INCOME TAXES EXCEPT TO THE EXTENT IT DERIVES INCOME FROM CERTAIN ACTIVITIES NOT SUBSTANTIALLY RELATED TO ITS TAX-EXEMPT PURPOSES (UNRELATED TRADE OR BUSINESS ACTIVITIES). THE COLLEGE IS ALSO EXEMPT FROM STATE INCOME TAX. AT JUNE 30, 2022, THE COLLEGE HAD NO OBLIGATION FOR UNRELATED BUSINESS INCOME TAX. 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 JUNE 30, 2022. THE COLLEGE'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 31,404. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS TO STUDENTS 42,551,199. INCOME REPORTED AS 990 REVENUE; BUT OFFSETTING NONOPERATING EXPENSES ON F/S 4,711,044. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 31,404. CHANGE IN ACTUARIAL LIABILITY 475,632. CHANGES IN VALUE OF INTEREST RATE SWAP -313,888. UNREALIZED INVESTMENT LOSS 29,972,949. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS TO STUDENTS 42,551,199. REVENUE OFFSETTING NONOPERATING EXPENSES ON F/S; REPORTED AS REVENUE ON 990 4,711,044. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 CARTHAGE COLLEGE FOLLOWS A NONDISCRIMINATORY POLICY REGARDING ALL PROGRAMS. ENROLLMENT OF STUDENTS IS WITHOUT DISCRIMINATION AS TO RACE, COLOR, RELIGION, SEX, GENDER EXPRESSION, GENDER IDENTITY, SEXUAL ORIENTATION, NATIONAL ORIGIN, PROTECTED VETERAN STATUS OR STATUS AS AN INDIVIDUAL WITH A DISABILITY. THIS POLICY IS PUBLISHED IN THE COLLEGE'S CATALOG, EMPLOYEE HANDBOOK, COMMUNITY CODE, AND ON THE COLLEGE'S WEBSITE AND RECRUITING INFORMATION. RECRUITMENT PROCEDURES ARE DESIGNED AND CARRIED OUT TO REACH ALL RACIAL SEGMENTS IN THE GEOGRAPHIC AREA SERVED. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FINANCIAL ASSISTANCE FROM THE U.S. GOVERNMENT IN CONNECTION WITH VARIOUS PROGRAMS SUCH AS THE PERKINS STUDENT LOAN PROGRAM, FEDERAL WORK STUDY PROGRAM, PELL GRANT PROGRAM, AND SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT PROGRAM. STUDENTS ATTENDING CARTHAGE COLLEGE ALSO RECEIVE FINANCIAL ASSISTANCE FROM THE STATE OF WISCONSIN. X X X X X X X 1 BLENTZ WALER FLESSNER 7900 XERXES AVE SOUTH SUITE 980 MINNEAPOLIS MN 55431 CAMPAIGN PLANNING AND CONSULTING 0 0 18955 0 18955 CARTHAGE GOLF OUTING 98108 34377 63731 9223 15450 1900 3691 98108 34377 63731 9223 15450 1900 3691 30264 33467 1 UNITED WAY OF KENOSHA COUNTY 5500 6TH AVENUE KENOSHA WI 53140 290806285 501(C)(3) 10000 0 ANNUAL CONTRIBUTION TO "BUILDING OUR FUTURE" PROGRAM UNITED WAY OF RACINE COUNTY 2000 DOMANIK DRIVE RACINE WI 53404 390806349 501(C)(3) 5000 0 CONTRIBUTION TO "HIGHER EXPECTATIONS" PROGRAM 2 0 SCHOLARSHIPS AND GRANTS PROVIDED AS FINANCIAL AID TO STUDENTS 2764 37740879 PELL GRANTS 1313 3233083 WI TUITION GRANT 695 1229671 SEOG 548 290969 WI ACADEMIC EXCELLENCE 45 25297 WI MINORITY RETENTION GRANT 12 15550 WI TIP 5 3750 WI NURSING LOAN 4 12000 PART I, LINE 2C CARTHAGE COLLEGE OFFERS SCHOLARSHIPS AND GRANTS TO QUALIFIED STUDENTS TO HELP REDUCE THEIR OUT-OF-POCKET TUITION COSTS. STUDENTS RECEIVING FINANCIAL ASSISTANCE OF THIS FORM MUST MEET SPECIFIC CRITERIA SUCH AS ACADEMIC ACHIEVEMENT, FINANCIAL NEED, AND OTHER SIMILAR STANDARDS WHETHER PUT IN PLACE BY THE COLLEGE OR BY DONORS OF RESTRICTED FUNDS. X X X X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 JOHN SWALLOW PRESIDENT & CHIEF EXECUTIVE OFFICER 404595 0 75000 0 4263 0 44188 0 79471 0 607517 0 0 0 DAVID TIMMERMAN PROVOST AND CHIEF OPERATING OFFICER 217407 0 0 0 0 0 36288 0 35470 0 289165 0 0 0 KEVIN CROSBY DIRECTOR FOR THE WISCONSIN SPACE GRA 188284 0 0 0 0 0 6814 0 47373 0 242471 0 0 0 ABIGAIL HANNA VP FOR ADMIN PLANNING AND INNOVATION 174747 0 0 0 0 0 28875 0 16961 0 220583 0 0 0 NICHOLAS MULVEY VP FOR ENROLLMENT 162628 0 0 0 0 0 8600 0 47626 0 218854 0 0 0 KIMBERLIE GOLDSBERRY VP FOR STUDENT AFFAIRS - DEAN OF STU 182577 0 0 0 0 0 9125 0 15738 0 207440 0 0 0 LISA M HINKLEY ASSOCIATE VP FOR CAREER AND PROF DEV 149158 0 0 0 0 0 7500 0 15575 0 172233 0 0 0 MICHELE HANCOCK VP FOR COLLEGE CULTURE FOR INCLUSION 157639 0 0 0 0 0 7099 0 955 0 165693 0 0 0 THOMAS KLINE VP FOR INSTITUTIONAL ADVANCEMENT 154195 0 0 0 0 0 7502 0 114 0 161811 0 0 0 VINCENTE CEJA ASSOCIATE VP FOR FINANCE AND CFO 138657 0 0 0 0 0 7000 0 15231 0 160888 0 0 0 PART I, LINE 4B CONTRIBUTION TO 457F PLAN DURING THE CALENDAR YEAR 2021 WAS $25,000 FOR JOHN SWALLOW, $25,000 FOR DAVID TIMMERMAN, AND $20,000 FOR ABIGAIL HANNA. A WISCONSIN HEALTH AND EDUCATIONAL FACILITIES 391337855 2017-06-21 42500000 FINANCING OF SCIENCE CENTER 0 0 0 B WISCONSIN HEALTH AND EDUCATIONAL FACILITIES 391337855 2015-04-30 10250000 REDEEMED THE 1995 BONDS AND REFUNDED THE 1999 SERIES A BONDS 0 0 0 A 6665000 42500000 42500000 1 0 1 1 B 3075000 10250000 10250000 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 1 0 0 1 0 0 0 1 B 0 1 0 0 1 0 0 0 1 A 1 B 1 X 4 3832900 APPRAISAL X 16 556557 FMV (NYSE OR EQUIV) X 3 1340 COST X 2 1222 COST X EQUIPMENT 1 57876 DONOR ESTIMATE OF FM X LIFE INSURANCE POLICIES 2 57066 CASH SURRENDER VALUE X TICKETS 6 5465 COST X MUSIC 1 1710 DONOR ESTIMATE OF FM X JOURNAL 1 1422 COST X GAMING ITEMS 2 829 DONOR ESTIMATE OF FM 42 0 1 1 PART I, COLUMN (B): NUMBER OF CONTRIBUTORS IS RECORDED. PART I, LINE 32B: AS NEEDED BASED ON NON-CASH CONTRIBUTION - BAIRD IS USED TO RECEIVE AND SELL STOCK CONTRIBUTED. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE REVIEWS A COMPLETE COPY OF THE 990 AND IT IS MADE AVAILABLE TO ALL GOVERNING BOARD MEMBERS BEFORE FILING EXCEPT SCHEDULE B TO PROTECT DONOR IDENTITY. FORM 990, PART VI, SECTION B, LINE 12C ALL EMPLOYEES AND BOARD OF TRUSTEES ARE COVERED BY THE CONFLICT-OF-INTEREST POLICY. THE COLLEGE ATTORNEY DETERMINES AS TO WHETHER POSSIBLE CONFLICTS EXIST AND INFORMS THE CONTROLLER AND CFO OF SUCH POTENTIAL CONFLICTS. NO CONFLICTS HAVE ARISEN TO DATE. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION OF THE PRESIDENT IS REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES IN EXECUTIVE SESSION. THIS REVIEW IS PERFORMED ANNUALLY. THE COMPENSATION OF KEY EMPLOYEE/OFFICERS IS DETERMINED BY THE PRESIDENT WITH REVIEW BY THE BOARD AS REQUESTED. FORM 990, PART VI, SECTION C, LINE 19 CARTHAGE COLLEGE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE INTERNAL DOCUMENTS AND NOT AVAILABLE TO THE PUBLIC. AUDITED FINANCIAL STATEMENTS, HOWEVER, ARE MADE AVAILABLE TO THE PUBLIC VIA CARTHAGE'S WEBSITE. FORM 990, PART XI, LINE 9: ADJUSTMENT OF ACTUARIAL LIABILITY FOR ANNUITIES -475,632. CHANGE IN VALUE OF INTEREST RATE SWAP 313,888. CHARITABLE REMAINDER ANNUITY TRUSTS (118) CHARITABLE TRUST WI N/A T 0 CHARITABLE REMAINDER UNITRUSTS (2) CHARITABLE TRUST WI N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0