2023-05-10T14:17:16-05:00 2022-06-30 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2021-07-01 381381271 HOPE COLLEGE HOPE 6163957810 141 E 12TH STREET HOLLAND MI 49423 THOMAS BYLSMA VICE PRESIDENT, CFO 6163957810 2023-05-03 1 THOMAS BYLSMA 999009999 AMY CIMINELLO P00796388 2695674500 2023-05-03 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z THOMAS BYLSMA 141 E 12TH STREET HOLLAND MI 49423 254797308 0 X WWW.HOPE.EDU X 1866 MI THE MISSION OF HOPE COLLEGE IS TO EDUCATE STUDENTS FOR LIVES OF LEADERSHIP AND SERVICE IN A GLOBAL SOCIETY THROUGH ACADEMIC AND CO-CURRICULAR PROGRAMS OF RECOGNIZED EXCELLENCE IN THE LIBERAL ARTS AND IN THE CONTEXT OF THE HISTORIC CHRISTIAN FAITH. 25 22 2950 22 1458256 0 35570514 24291385 135140990 142220228 16348429 21124715 -82097 876169 186977836 188512497 44211170 52625527 0 0 66352443 69365889 0 0 4659416 53537470 54493899 164101083 176485315 22876753 12027182 580555530 551187354 67194760 58394179 513360770 492793175 THE MISSION OF HOPE COLLEGE IS TO EDUCATE STUDENTS FOR LIVES OF LEADERSHIP AND SERVICE IN A GLOBAL SOCIETY THROUGH ACADEMIC AND CO-CURRICULAR PROGRAMS OF RECOGNIZED EXCELLENCE IN THE LIBERAL ARTS AND IN THE CONTEXT OF THE HISTORIC CHRISTIAN FAITH. 0 0 148524397 49609906 133329738 THE ORGANIZATION PROVIDED COMPREHENSIVE LITERACY & SCIENCE COURSES OF STUDY TO APPROXIMATELY 2,967 FULL TIME EQUIVALENT STUDENTS IN THE FALL OF 2021 AND 2,797 IN THE SPRING OF 2022. THE ORGANIZATION WAS ALSO INVOLVED IN ADMINISTRATIVE, AUXILLARY OPERATIONS & STUDENT SERVICES TO SUPPORT THE CAMPUS. 9028305 3015621 8104672 THE ORGANIZATION IS INVOLVED IN RESEARCH TO MAINTAIN ONE OF THE TOP CHEMISTRY & BIOLOGY DEPTS IN THE COUNTRY, UTILIZE RESEARCH AS A TEACHING TOOL IN THE CLASSROOM & TO FACILITATE LEARNING. 157552702 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 0 1 0 1 0 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 281 0 1 2950 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 25 22 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 1 1 MI X THOMAS BYLSMA 6163957810 141 E 12TH ST HOLLAND MI 49423 MATTHEW SCOGIN PRESIDENT 50.00 0.00 X X 252375 0 81065 DR LLENA CHAVIS TRUSTEE/FACULTY 40.00 0.00 X 77650 0 25491 DR MATTHEW WIXSON VICE CHAIR 1.00 0.00 X X 0 0 0 DR STEPHEN BOERIGTER SECRETARY 1.00 0.00 X X 0 0 0 KARL DROPPERS CHAIRPERSON 1.00 0.00 X X 0 0 0 CAROL VANANDEL TRUSTEE 1.00 0.00 X 0 0 0 DAVID PAUL TRUSTEE 1.00 0.00 X 0 0 0 DOUGLAS CONANT TRUSTEE 1.00 0.00 X 0 0 0 DR VIRGINIA BEARD TRUSTEE/PROFESSOR 40.00 0.00 X 57798 0 19317 ANDREW OHM TRUSTEE 1.00 0.00 X 0 0 0 JIM MCFARLIN TRUSTEE 1.00 0.00 X 0 0 0 BRIAN GIBBS TRUSTEE 1.00 0.00 X 0 0 0 LAURA PAREDES TRUSTEE 1.00 0.00 X 0 0 0 LESLIE SCHOON-MONDAY TRUSTEE 1.00 0.00 X 0 0 0 MARGARET MILLER WILLIT TRUSTEE 1.00 0.00 X 0 0 0 MARK VAN GENDEREN TRUSTEE 1.00 0.00 X 0 0 0 REVEREND DR NATHAN HART TRUSTEE 1.00 0.00 X 0 0 0 REVEREND EDDY ALEMAN TRUSTEE 1.00 0.00 X 0 0 0 REVEREND MICHAEL PITSENBERGER TRUSTEE 2.00 0.00 X 0 0 0 SANDRA GADDY TRUSTEE 1.00 0.00 X 0 0 0 THE RIGHT REVEREND EUGENE SUTTON TRUSTEE 3.00 0.00 X 0 0 0 THOMAS GORDON TRUSTEE 1.00 0.00 X 0 0 0 TIMOTHY LONG TRUSTEE 1.00 0.00 X 0 0 0 TIMOTHY VANDEBUNTE TRUSTEE 1.00 0.00 X 0 0 0 VICTORIA BRUNN TRUSTEE 1.00 0.00 X 0 0 0 THOMAS BYLSMA CFO 50.00 0.00 X 209562 0 45457 GERALD D GRIFFIN INTERIM PROVOST 50.00 0.00 X 193866 0 25188 RICHARD J PUCKETT VP FOR DEVELOPMENT 45.00 0.00 X 251774 0 78507 WILLIAM VANDERBILT VICE PRESIDENT 45.00 0.00 X 190402 0 65143 RICHARD A FROST VP FOR STUDENT DEVELOPMENT 45.00 0.00 X 169877 0 35749 JENNIFER FELLINGER VP FOR PUBLIC AFFAIRS/MARK 45.00 0.00 X 161253 0 36557 CARL E HEIDEMAN DIRECTOR OF PROCESS/INNOVA 40.00 0.00 X 144809 0 98617 AARON BEST FACULTY 40.00 0.00 X 162745 0 48917 STACY L JACKSON FACULTY 40.00 0.00 X 140910 0 56254 DAVID VANWYLEN OFFICE OF POSSIBILITIES 40.00 0.00 X 148547 0 31247 SONJA TRENT-BROWN VP-CULTURE/INCLUSIVE EXCELLENCE 40.00 0.00 X 133500 0 28336 CADY SHORT-THOMPSON PROVOST - PART YEAR 50.00 0.00 X 212436 0 34416 2507504 0 710261 76 1 1 0 CREATIVE DINING SERVICE ONE ROYAL PARK DRIVE SUITE 3 ZEELAND MI 49464 FOOD SERVICE MANAGEMENT 9525441 LAKEWOOD CONSTRUCTION COMPANY 11253 JAMES ST HOLLAND MI 49424 CONSTRUCTION SERVICES 2458177 MIDWEST CONSTRUCTION GROUP INC 8516 HOMESTEAD AVE 102 ZEELAND MI 49464 CONSTRUCTION SERVICES 1548013 HOLLAND SUPERIOR HOSPITALITY LLC 3084 WESTSHORE DRIVE HOLLAND MI 49424 HOUSING SERVICES 719838 CAMBRIDGE ASSOCIATES 4100 FAIRFAX DRIVE ARLINGTON VA 22203 INVESTMENT CONSULTANT 596590 35 13786089 10505296 1320705 24291385 TUITION & FEES 611600 111460352 111460352 AUXILIARY ENTERPRISES 611600 25719607 25719607 BOOKSTORE INCOME 611600 2485915 2485915 OTHER PROGRAM INCOME 611600 1540749 1540749 TENNIS CENTER INCOME 713940 785818 785818 227787 227787 142220228 21045038 1140944 19904094 2651982 3120488 -468506 -468506 -468506 63244000 63164323 79677 79677 79677 GRANT OVERHEAD REIMBURSEMENT 900099 880628 880628 CO-CURRICULAR ACTIVITIES 900099 431172 431172 SALES AND SERVICE REVENUE 900099 32875 32875 1344675 188512497 141434410 1458256 21328446 52402680 52402680 222847 222847 2223864 2054823 109880 59161 52486773 45441964 4355066 2689743 4170000 3553258 386522 230220 6774622 5851181 566582 356859 3710630 3215982 306479 188169 233469 3000 230469 94900 94900 4455344 4455344 2243879 1575140 337866 330873 828743 530341 245008 53394 6059820 5377951 490185 191684 3690876 3526893 107112 56871 2826419 2583228 76606 166585 136328 129908 6420 1219479 1219479 10877176 9713317 1163859 723677 410745 309059 3873 FOOD SERVICE & LAUNDRY 10228514 10061294 62994 104226 TUITION WAIVERS 2748579 2431286 201459 115834 OTHER MAINT. & REPAIRS 2641122 2431314 170883 38925 INVENTORY PURCHASES FOR 1793027 1654689 88497 49841 3692547 3161382 508007 23158 176485315 157552702 14273197 4659416 45736712 44145001 22460067 14241623 4780161 6937448 770251 960098 974426 1069654 362832620 152668777 210667078 210163843 122328838 101819141 172837997 171850546 580555530 551187354 13767457 11276516 395759 275519 31535000 29085000 21496544 17757144 67194760 58394179 X 235295259 233303383 278065511 259489792 513360770 492793175 580555530 551187354 X 12027182 -34250378 1655601 X X 0 1 X 1 1 1 X 16800302 13256649 24734587 35570514 24291385 114653437 16800302 13256649 24734587 35570514 24291385 114653437 13298740 101354697 2880970 2725335 5914790 15937547 19845379 47304021 1289939 1321036 1313091 929779 1344675 6198520 168155978 679619958 0.60270 0.63860 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GRANT OVERHEAD REIMBURSEMENT STUDENT ACTIVITIES - 2017 AMOUNT: $ 1,289,939. 2018 AMOUNT: $ 1,321,036. 2019 AMOUNT: $ 1,313,091. 2020 AMOUNT: $ 929,779. 2021 AMOUNT: $ 1,344,675. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 162202 838193 X X X 0 307166851 3765171 -15566326 12723583 282642113 229197138 14776631 74671162 11478080 307166851 233511844 6848611 -178786 10985431 229197138 227667474 5744708 9576844 9477182 233511844 213248455 5147917 19207578 9936476 227667474 0.15871 0.63127 0.21002 0 0 25690185 25690185 293734861 126060278 167674583 39458444 26608499 12849945 3949130 3949130 210163843 LIMITED PARTNERSHIPS AND HEDGE FUNDS 45102098 F COMMODITIES AND REAL ASSETS 10812328 F PRIVATE EQUITY, ALTERNATIVES, AND OTHER 115936120 F 171850546 ANNUITY AND TRUST PAYABLE 6354833 ACCUMULATED POST-RETIREMENT BENEFITS 3822675 REFUNDABLE FEDERAL PERKINS LOAN ADVANCES 2501604 STUDENTS AND OTHER DEPOSITS 2236918 INTEREST RATE SWAP LIABILITY 1626557 EARLY RETIREMENT BENEFIT 1214557 17757144 104699328 -34250378 1655940 -32594438 137293766 4455344 46763387 51218731 188512497 125266602 3120488 3120488 122146114 4455344 49883857 54339201 176485315 PART III, LINE 4: HOPE COLLEGE, THROUGH THE CONSTRUCTION (2004-05) OF THE MARTHA MILLER CENTER FOR INTERNATIONAL COMMUNICATIONS, HAS PURCHASED $79,000 IN PIECES OF ART THAT ARE ON PERMANENT DISPLAY IN THIS BUILDING. IN FALL OF 2015, HOPE COLLEGE OPENED THE KRUIZENGA ART MUSEUM. STRATEGIC PIECES OF ART WERE PURCHASED TO PUT ON DISPLAY IN THE ART GALLERY WHICH WILL ASSIST THE COLLEGE'S ART, HISTORY, AND CULTURAL HERITAGE CURRICULUM. PART V, LINE 4: THE ENDOWMENT FUND OF HOPE COLLEGE IS USED TO SUPPORT THE ONGOING MISSION OF THE COLLEGE BY PROVIDING ANNUAL RESOURCES THAT ASSIST WITH SCHOLARSHIP, FACULTY DEVELOPMENT, ACADEMIC SUPPORT, RESEARCH, STUDENT SERVICES, FACILITY MAINTENANCE, AND OTHER PROGRAM SUPPORT. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT -1,602,342. CHANGE IN VALUE OF SWAP AGREEMENTS 3,137,282. CHANGE IN VALUE OF POSTRETIREMENT LIABILITY 121,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL SCHOLARSHIPS & FELLOWSHIPS 49,883,875. RENTAL EXPENSE -3,120,488. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 3,120,488. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL SCHOLARSHIPS & FELLOWSHIPS 49,883,875. ROUNDING -18. 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 & MEDIA ADS, AS WELL AS OUR CATALOG & STUDENT HANDBOOK, WHICH IS AVAILABLE UPON REQUEST. SCHEDULE E, PART I, LINE 6 HOPE COLLEGE RECEIVES GRANTS AND FINANCIAL AID FROM VARIOUS FEDERAL AND STATE AGENCIES THAT ARE USED IN THE FURTHERANCE OF THE COLLEGE'S EXEMPT PURPOSE OF PROVIDING QUALITY EDUCATION. LINE 6: TO OFFSET THE FINANCIAL IMPACT TO STUDENTS AND THE LOSSES INCURRED BY THE COLLEGE DUE TO THE DISRUPTION CAUSED BY COVID-19, THE COLLEGE RECEIVED GRANTS AND OTHER RELIEF PRIMARILY FROM THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY (CARES) ACT. DURING THE YEAR ENDED JUNE 30, 2020, THE COLLEGE WAS ALLOCATED HIGHER EDUCATION EMERGENCY RELIEF FUND (HEERF) GRANTS TOTALING $2,163,878 OF WHICH 50 PERCENT WAS REQUIRED TO BE GIVEN DIRECTLY TO STUDENTS. FOR THE YEAR ENDED JUNE 30, 2020, THE COLLEGE RECOGNIZED HEERF GRANT REVENUE TOTALING $2,009,449. DURING THE YEAR ENDED JUNE 30, 2021, THE COLLEGE RECOGNIZED THE REMAINING $154,429 AND WAS ALLOCATED ADDITIONAL HEERF GRANTS TOTALING $8,738,703 IN TWO SUBSEQUENT AWARDS, OF WHICH $3,877,949 IS REQUIRED TO BE GIVEN DIRECTLY TO STUDENTS. OF THE HEERF GRANTS ALLOCATED TO THE COLLEGE DURING 2021, THE COLLEGE RECOGNIZED HEERF GRANT REVENUE TOTALING $3,253,814 .DURING THE YEAR ENDED JUNE 30, 2022, THE COLLEGE RECOGNIZED THE REMAINING HEERF GRANT REVENUE FROM FYE 2021, TOTALING $5,484,889. 1 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 DIRECT FOREIGN INVESTMENT N/A 3059971 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 DIRECT FOREIGN INVESTMENT N/A 57243583 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES OFF CAMPUS STUDENT ENRICHMENT, RECRUITMENT, RESEARCH 274398 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES OFF CAMPUS STUDENT ENRICHMENT, RECRUITMENT 48467 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PROGRAM SERVICES OFF CAMPUS STUDENT ENRICHMENT, RECRUITMENT 1030 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 PROGRAM SERVICES OFF CAMPUS STUDENT ENRICHMENT, RECRUITMENT 30034 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 SCHOLARSHIPS N/A 24675 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 0 0 SCHOLARSHIPS N/A 5000 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 SCHOLARSHIPS N/A 3000 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 SCHOLARSHIPS N/A 7422 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 SCHOLARSHIPS N/A 17000 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 SCHOLARSHIPS N/A 49800 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 SCHOLARSHIPS N/A 115950 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 PROGRAM SERVICES N/A 4600 0 0 0 0 0 0 60687158 197772 60884930 SCHOLARSHIP - TUITION/BOOKS CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 4 115950 CHARGE AGAINST TUITION N/A N/A SCHOLARSHIP - TUITION/BOOKS EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 11 49800 CHARGE AGAINST TUITION N/A N/A SCHOLARSHIP - TUITION/BOOKS EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIU 1 17000 CHARGE AGAINST TUITION N/A N/A SCHOLARSHIP - TUITION/BOOKS NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 1 7422 CHARGE AGAINST TUITION N/A N/A SCHOLARSHIP - TUITION/BOOKS SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 1 3000 CHARGE AGAINST TUITION N/A N/A SCHOLARSHIP - TUITION/BOOKS SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 1 5000 CHARGE AGAINST TUITION N/A N/A SCHOLARSHIP - TUITION/BOOKS SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 11 24675 CHARGE AGAINST TUITION N/A N/A 1 0 1 1 1 0 PART I, LINE 2: HOPE COLLEGE OFFERS MERIT-BASED ACADEMIC SCHOLARSHIPS TO INTERNATIONAL STUDENTS. THE ASSESSMENT FOR AWARDING THESE MERIT-BASED SCHOLARSHIPS IS BASED ON A REVIEW OF THE STUDENT'S APPLICATION, WITH SPECIFIC EMPHASIS ON THE STUDENT'S ACADEMIC CREDENTIALS, AS WELL AS LEADERSHIP AND VOLUNTEER ACTIVITIES. STUDENTS ARE ELIGIBLE TO RECEIVE THE SCHOLARSHIP FOR A MAXIMUM OF EIGHT (8) SEMESTERS. STUDENTS WHO COMPLETE THEIR DEGREE IN LESS THAN EIGHT (8) SEMESTERS WILL HAVE THEIR SCHOLARSHIP TERMINATED ONCE THE DEGREE REQUIREMENTS ARE MET. RENEWAL IS CONTINGENT UPON THE INTERNATIONAL STUDENT MAINTAINING FULL-TIME ENROLLMENT (12 CREDITS PER SEMESTER), AS WELL AS MAINTAINING SATISFACTORY ACADEMIC PROGRESS, AS DEFINED BY THE HOPE COLLEGE OFFICE OF FINANCIAL AID. SATISFACTORY ACADEMIC PROGRESS IS ASSESSED ANNUALLY, AT THE END OF THE SPRING SEMESTER. STUDENTS NOT MAKING SATISFACTORY PROGRESS MAY APPEAL TO HAVE THEIR SCHOLARSHIP REINSTATED. PART III ACCOUNTING METHOD: SCHEDULE F, PART I REGARDING DIRECT FOREIGN INVESTMENTS, AMOUNTS REPORTED ON PART I, LINE 3, COLUMN F ARE THE BOOK VALUE OF THE INVESTMENTS AS OF JUNE 30, 2022. 1 SCHOLARSHIP - TUITION/BOOKS 2877 49661028 N/A N/A PART I, LINE 2: HOPE SCHOLARSHIP/GRANT FUNDS ARE DISBURSED TO THE RECIPIENT UPON PROOF OF ELIGILIBITY (I.E. FINANCIAL NEED OR ACADEMIC MERIT) AND UPON PROOF OF EXPENSE INCURRED. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 MATTHEW SCOGIN PRESIDENT 252375 0 0 0 0 0 26447 0 54618 0 333440 0 0 0 RICHARD J PUCKETT VP FOR DEVELOPMENT 251774 0 0 0 0 0 26279 0 52228 0 330281 0 0 0 WILLIAM VANDERBILT VICE PRESIDENT 190402 0 0 0 0 0 19940 0 45203 0 255545 0 0 0 THOMAS BYLSMA CFO 209562 0 0 0 0 0 21899 0 23558 0 255019 0 0 0 CADY SHORT-THOMPSON PROVOST - PART YEAR 212436 0 0 0 0 0 20300 0 14116 0 246852 0 0 0 CARL E HEIDEMAN DIRECTOR OF PROCESS/INNOVA 144809 0 0 0 0 0 15152 0 83465 0 243426 0 0 0 GERALD D GRIFFIN INTERIM PROVOST 193866 0 0 0 0 0 19163 0 6025 0 219054 0 0 0 AARON BEST FACULTY 162745 0 0 0 0 0 16143 0 32774 0 211662 0 0 0 RICHARD A FROST VP FOR STUDENT DEVELOPMENT 169877 0 0 0 0 0 16922 0 18827 0 205626 0 0 0 JENNIFER FELLINGER VP FOR PUBLIC AFFAIRS/MARK 161253 0 0 0 0 0 18192 0 18365 0 197810 0 0 0 STACY L JACKSON FACULTY 140910 0 0 0 0 0 13798 0 42456 0 197164 0 0 0 DAVID VANWYLEN OFFICE OF POSSIBILITIES 148547 0 0 0 0 0 15463 0 15784 0 179794 0 0 0 SONJA TRENT-BROWN VP-CULTURE/INCLUSIVE EXCELLENCE 133500 0 0 0 0 0 13965 0 14371 0 161836 0 0 0 PART I, LINE 1A THE PRESIDENT IS REQUIRED TO LIVE ON CAMPUS AS PART OF HIS EMPLOYMENT WITH THE COLLEGE. INCLUDED IN NONTAXABLE BENEFITS IS THE FAIR MARKET VALUE OF THE USAGE OF THE PRESIDENT'S HOME WHICH IS VALUED AT $33,600. THE COLLEGE PROVIDES AN ANNUAL MEMBERSHIP TO A LOCAL GOLF CLUB TO THE CFO AS A WAY TO PROMOTE THE COLLEGE. THE VALUE OF THIS MEMBERSHIP IS $9,000 AND $4,500 IS PAID FOR BY HOPE COLLEGE AND INCLUDED IN THE CFO'S NONTAXABLE BENEFITS. A THE ECONOMIC DEVELOPMENT CORPORATION OF THE COUNTY OF OTTAWA 386004883 NONEAVAIL 2011-12-14 10000000 SEE PART VI 0 0 0 B MICHIGAN FINANCE AUTHORITY 800595186 NONEAVAIL 2012-03-28 11220000 SEE PART VI 0 0 0 C MICHIGAN FINANCE AUTHORITY 800595186 NONEAVAIL 2013-08-08 16255000 SEE PART VI 0 0 0 D MICHIGAN FINANCE AUTHORITY 800595186 NONEAVAIL 2015-05-25 13940000 SEE PART VI 0 0 0 A 10000000 10000000 1040 9998960 0 1 1 1 B 130000 11220000 5000000 6220000 2014 1 0 1 1 C 6405000 16255000 16255000 1 0 1 1 D 5795000 13940000 13940000 1 0 1 1 B 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 0 D 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 1 0 1 0 0 0 0 B 0 0 0 1 1 0 0 0 0 C 0 0 1 0 1 0 0 0 0 D 0 0 1 1 1 0 0 0 0 A 0 B 0 C 0 D 0 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: MICHIGAN FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 03/28/2017 SCHEDULE K, PART I, BOND ISSUES: PART I, ROW A, COLUMN F: THE PURPOSE OF THE BONDS ISSUED ON DECEMBER 14, 2011 IS TO ADVANCE REFUND A PORTION OF THE MHEFA LIMITED OBLIGATION REVENUE BONDS (HOPE COLLEGE PROJECT), SERIES 2002A, DATED MAY 7, 2002 (THE SERIES 2002A BONDS). PART I, ROW B, COLUMN F: THE PURPOSE OF THE BONDS ISSUED ON MARCH 28, 2012 IS (A) TO CURRENTLY REFUND A PORTION OF THE SERIES 2002A BONDS, AND (B) TO PAY THE COSTS OF THE ACQUISITION, CONSTRUCTION, FURNISHING AND EQUIPPING OF STUDENT HOUSING FACILITIES AND THE RENOVATION, REFURBISHING AND RE-EQUIPPING OF DINING FACILITIES AT PHELPS HALL AND RELATED PARKING AND SITE IMPROVEMENTS. PART I, ROW C, COLUMN F: THE PURPOSE OF THE BONDS ISSUED ON AUGUST 8, 2013 IS TO CURRENTLY REFUND THE MHEFA VARIABLE RATE DEMAND LIMITED OBLIGATION REVENUE BONDS (HOPE COLLEGE PROJECT), SERIES 2002B, DATED MAY 7, 2002. PART I, ROW D, COLUMN F: THE PURPOSE OF THE BONDS ISSUED ON MAY 28, 2015 (THE SERIES 2015 BONDS) IS TO CURRENTLY REFUND THE MHEFA VARIABLE RATE DEMAND LIMITED OBLIGATION REVENUE AND REVENUE REFUNDING BONDS (HOPE COLLEGE PROJECT), SERIES 2004, DATED JULY 28, 2004 (THE SERIES 2004 BONDS). THE SERIES 2004 BONDS WERE ISSUED TO (A) CURRENTLY REFUND (I) A PORTION OF THE MHEFA LIMITED OBLIGATION REVENUE AND REVENUE REFUNDING BONDS, SERIES 1994 (HOPE COLLEGE PROJECT), DATED JUNE 16, 1994, (THE SERIES 1994 BONDS), AND (II) THE MHEFA LIMITED OBLIGATION REVENUE BONDS (HOPE COLLEGE PROJECT), SERIES 1996B, DATED JUNE 4, 1996 (THE SERIES 1996 BONDS), (B) TO PAY THE COST OF CONSTRUCTING, EQUIPPING, AND FURNISHING THE DEVOS FIELDHOUSE AND THE MARTHA MILLER CENTER FOR GLOBAL COMMUNICATIONS, AND RENOVATING GRAVES HALL, LUBBERS HALL, AND THE DOW CENTER, (C) TO PAY CAPITALIZED INTEREST ON THE NEW MONEY PORTION OF THE BONDS, AND (D) TO PAY THE COSTS OF ISSUING AND SECURING THE BONDS. PART III, LINE 3A(B): THERE IS A FOOD SERVICE CONTRACT THAT QUALIFIES FOR THE SAFE HARBOR UNDER REV. PROC. 97-13 PART III, LINE 3A(D): THERE IS A FOOD SERVICE CONTRACT THAT QUALIFIES FOR THE SAFE HARBOR UNDER REV. PROC. 97-13 SCHEDULE K, PART IV, ARBITRAGE, LINE 2C: (B) ISSUER NAME: MICHIGAN FINANCE AUTHORITY. DATE THE REBATE COMPUTATION WAS PERFORMED: 03/28/2017 BY BNY MELLON. NO REBATE WAS DUE. X 5 162202 FMV X 50 1029909 NYSE - FMV X EQUIPMENT 2 190000 FMV X CONSULTING SERVICES 4 6250 FMV X GIFT CARDS 1 420 FMV X ALUMNI DINNER 1 401 FMV X RETIREMENT GIFT 1 300 FMV 0 1 1 1 PART I, COLUMN (B): THE NUMBER LISTED IN COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTIONS RECEIVED. PART I, LINE 30B: ALL ART CONTRIBUTED IS RETAINED AS PART FO THE COLLEGE'S PERMANENT COLLECTION. PART I, LINE 32B: THE ORGANIZATION USES A STOCK BROKER TO SELL SECURITIES SHORTLY AFTER RECEIPT. FORM 990, PART VI, SECTION B, LINE 11B MEMBERS OF THE PROTECTING THE MISSION COMMITTEE OF THE BOARD OF TRUSTEES ARE PROVIDED WITH A REASONABLE OPPORTUNITY TO REVIEW AND COMMENT TO EXECUTIVE LEADERSHIP ON THE FORM 990 OF HOPE COLLEGE BEFORE IT IS FILED WITH THE INTERNAL REVENUE SERVICE. FURTHER, THE EXECUTIVE LEADERSHIP OF HOPE COLLEGE PROVIDES THE MINUTES OF THE PROTECTING THE MISSION COMMITTEE FORM 990 REVIEW TO THE BOARD OF TRUSTEES SHOWING AN OVERVIEW OF THE HIGHLIGHTS AT THE NEXT REGULARLY SCHEDULED BOARD MEETING FOLLOWING THE FILING OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE BOARD OF TRUSTEES PREPARE AND SIGN CONFLICT STATEMENTS ANNUALLY. THESE STATEMENTS ARE REVIEWED BY THE PROTECTING THE MISSION COMMITTEE, THE SECRETARY OF THE BOARD, AND THE PRESIDENT TO ENSURE COMPLIANCE WITH THE CONFLICT POLICY. MEMBERS OF THE BOARD WITH A PERSONAL INVOLVEMENT IN A PARTICULAR DECISION WILL EXCUSE THEMSELVES FROM DISCUSSION LEADING TO A DECISION AND FROM THE DECISION ITSELF, AND THIS DISCLOSURE AND ABSENCE WILL BE NOTED IN THE MINUTES OF THE MEETING. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES (BOT) APPROVES A RECOMMENDED COMPENSATION INCREASE BROUGHT TO THE BOT FROM THE CFO. THE COMPENSATION INCREASE IS HIGHLY CORRELATED TO THE TUITION INCREASE APPROVED FOR THE FOLLOWING ACADEMIC YEAR. THE RATES RECOMMENDED ARE DETERMINED BY LOOKING AT THE FOLLOWING FACTORS: COST OF LIVING (CPI), CUPA (COLLEGE AND UNIVERSITY PERSONNEL ASSOCIATION) SURVEYS, AND THE LAKESHORE HUMAN RESOURCES MANAGEMENT ASSOCIATION SURVEYS - WHICH IS A CHAPTER OF THE SOCIETY OF HUMAN RESOURCES MANAGEMENT (SHRM). SINCE HOPE COLLEGE IS NOT A UNION" SCHOOL WE DO NOT HAVE DELIBERATION BUT IF DISCUSSION DOES OCCUR DURING THE BOT APPROVAL PROCESS, IT WOULD BE DOCUMENTED IN THE BOT MINUTES FOR THAT SPECIFIC MEETING. THE CEO'S (PRESIDENT'S) COMPENSATION IS BASED UPON A RECOMMENDATION FROM THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES AND IS THEN APPROVED BY THE FULL BOARD OF TRUSTEES. COMPARISON DATA IS USED ALONG WITH EVALUATION OF PERFORMANCE IN THEIR DECISION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT -1,602,342. CHANGE IN VALUE OF POSTRETIREMENT LIABILITY 121,000. CHANGE IN VALUE OF SWAP AGREEMENTS 3,137,282. ROUNDING ADJUSTMENT -339. FORM 990, PART XII, LINE 2C: THE OVERSIGHT PROCESS FOR THE AUDIT HAS NOT CHANGED SINCE LAST YEAR.