2023-05-13T07:01:07-05:00 2022-06-30 366055558 GRANT THORNTON LLP 171 N CLARK ST SUITE 200 CHICAGO IL 60601 990 2021-07-01 362169145 ELMHURST UNIVERSITY ELMH 6306173400 190 PROSPECT AVENUE ELMHURST IL 601263296 JULIE SUDERMAN VP OF FINANCE 6306173012 2023-05-11 1 JULIE SUDERMAN XXX-XX-XXXX BRIDGET ROCHE P00666837 3128560200 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z X DR TROY VANAKEN 190 PROSPECT AVENUE ELMHURST IL 601263296 219799659 0 X WWW.ELMHURST.EDU X 1942 IL ELMHURST UNIVERSITY INSPIRES INTELLECTUAL AND PERSONAL GROWTH IN OUR (CONTINUED IN SCHEDULE O)STUDENTS, PREPARING THEM FOR MEANINGFUL AND ETHICAL CONTRIBUTIONS TO A DIVERSE, GLOBAL SOCIETY.FORM 990, PART V, LINE 1A:THE TOTAL ON THIS LINE DOES NOT INCLUDE 4,418 FORM 1098-T'S, WHICH THE UNIVERSITY IS REQUIRED TO FILE WITH THE IRS AND PROVIDE TO ITS U.S. PERSON STUDENTS. 40 39 1703 288 0 194928 17389825 15156148 116843142 121248491 7084172 6153063 5774989 2463468 147092128 145021170 54406052 59818052 0 42519774 45074063 0 2598974 28185977 25880487 125111803 130772602 21980325 14248568 252544326 261735880 80882492 73383631 171661834 188352249 ELMHURST UNIVERSITY INSPIRES INTELLECTUAL AND PERSONAL GROWTH IN OUR STUDENTS, PREPARING THEM FOR MEANINGFUL AND ETHICAL CONTRIBUTIONS TO A DIVERSE, GLOBAL SOCIETY. 0 0 85304097 59818052 114591405 INSTRUCTION - ELMHURST UNIVERSITY PROVIDES POST-SECONDARY EDUCATION THROUGH APPROXIMATELY 30 ACADEMIC DEPARTMENTS AND OFFERS MORE THAN 70 MAJORS IN EDUCATION, 18 MASTER'S DEGREE PROGRAMS AND 15 PRE-PROFESSIONAL PROGRAMS. IN ADDITION, THE ELMHURST LEARNING AND SUCCESS ACADEMY OFFERS A NON-DEGREE PROGRAM FOR YOUNG ADULTS WITH LEARNING, INTELLECTUAL, COGNITIVE, PHYSICAL, AND/OR SENSORY DISABILITIES.SCHOLARSHIPS AND GRANTS - WE ASSIST OUR STUDENTS WITH A COMPREHENSIVE RANGE OF FINANCIAL AID PROGRAMS, INCLUDING INSTITUTIONAL MERIT-BASED SCHOLARSHIPS, INSTITUTIONAL AND GOVERNMENTAL NEED-BASED GRANTS. APPROXIMATELY 93% OF THE FULL TIME UNDERGRADUATE STUDENTS WHO ENTERED UNIVERSITY IN THE FALL RECEIVED SUCH SCHOLARSHIPS AND GRANTS. 22541868 6091448 STUDENT SERVICES - INCLUDES STUDENT AFFAIRS, ADMISSIONS, REGISTRAR, FINANCIAL AID COUNSELING, SOCIAL AND CULTURAL DEVELOPMENT, WELLNESS CENTER, AND ATHLETICS. STUDENT LIFE AT ELMHURST IS ACTIVE AND CREATIVE ALLOWING STUDENTS TO GET INVOLVED IN DIVERSE AREAS INCLUDING STUDENT GOVERNMENT, 'THE LEADER' STUDENT NEWSPAPER, BLACK STUDENT UNION, HABITAT FOR HUMANITY, SAGE (STRAIGHTS AND GAYS FOR EQUALITY), H.A.B.L.A.M.O.S. (A LATINO STUDENT ORGANIZATION), MODEL UN, WRSE RADIO STATION, AND MANY OTHER GROUPS AS WELL AS INTERCOLLEGIATE SPORTS AND INTRAMURAL ACTIVITIES. 6550538 565638 ACADEMIC SUPPORT - ACADEMIC DEAN, LIBRARY SERVICES, ACADEMIC ADVISING AND ACADEMIC COMPUTING ARE INCLUDED IN ACADEMIC SUPPORT. THE A.C. BUEHLER LIBRARY PROVIDES MANY TECHNOLOGICALLY ADVANCED SERVICES FOR INSTRUCTIONAL AND INFORMATIONAL RESEARCH, OR FOR PERSONAL ENJOYMENT WITH WIRELESS ACCESS THROUGHOUT. 114396503 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 302 0 1 1703 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 40 39 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X GINA PATTEN 6306173327 190 PROSPECT AVENUE ELMHURST IL 601263296 DR TROY D VANAKEN PRESIDENT 50.00 0.00 X X 533564 0 133234 JUDITH A PAICE TRUSTEE 2.00 0.00 X 0 0 0 JULIE CURRAN TRUSTEE 2.00 0.00 X 0 0 0 JULIUS WESLEY BECTON III TRUSTEE 2.00 0.00 X 0 0 0 KENT T DAHLGREN TRUSTEE 2.00 0.00 X 0 0 0 L BERNARD JAKES TRUSTEE 1.00 0.00 X 0 0 0 LESLIE BANKS TRUSTEE 1.00 0.00 X 0 0 0 LIZ DUDEK TRUSTEE 2.00 0.00 X 0 0 0 MARICELA GUZMAN TRUSTEE 2.00 0.00 X 0 0 0 MARY SCHALLER BLAUFUSS TRUSTEE 1.00 0.00 X 0 0 0 MICHAEL WAGNER TRUSTEE 2.00 0.00 X 0 0 0 JOANN M MCGUINESS TRUSTEE 1.00 0.00 X 0 0 0 MICHELLE LANTER SMITH TRUSTEE 1.00 0.00 X 0 0 0 PAULA PFORZHEIMER TRUSTEE 2.00 0.00 X 0 0 0 RAJEEV KHANNA TRUSTEE 1.00 0.00 X 0 0 0 REV ROBERT O ULLMAN TRUSTEE 2.00 0.00 X 0 0 0 ROSIE PHILLIPS DAVIS TRUSTEE 1.00 0.00 X 0 0 0 SARAH CLARIN TRUSTEE 1.00 0.00 X 0 0 0 SERGIO E ACOSTA TRUSTEE 1.00 0.00 X 0 0 0 STEVEN JEMISON TRUSTEE 1.00 0.00 X 0 0 0 SUSAN BOWERS TRUSTEE 2.00 0.00 X 0 0 0 THE HONORABLE WILLIAM J BAUER TRUSTEE 1.00 0.00 X 0 0 0 VIRGINIA PORCHASKA TRUSTEE 2.00 0.00 X 0 0 0 NATHAN RICHEY TRUSTEE 1.00 0.00 X 0 0 0 GRANT KIEF TRUSTEE 1.00 0.00 X 0 0 0 FRANK RUFFOLO TRUSTEE 2.00 0.00 X 0 0 0 FRANK CERRONE TRUSTEE 1.00 0.00 X 0 0 0 EDWARD J MOMKUS CHAIR 2.00 0.00 X X 0 0 0 HUGH H MCLEAN VICE CHAIR 2.00 0.00 X X 0 0 0 ALFRED N KOPLIN TRUSTEE 2.00 0.00 X 0 0 0 BRIAN BLAHA TRUSTEE 2.00 0.00 X 0 0 0 BARBARA J LUCKS TRUSTEE 1.00 0.00 X 0 0 0 BILL NELSON TRUSTEE 2.00 0.00 X 0 0 0 DAVID MOULTHROP TRUSTEE 2.00 0.00 X 0 0 0 DR CATHY DOUCETTE TRUSTEE 1.00 0.00 X 0 0 0 EVA W TAMELING TRUSTEE 2.00 0.00 X 0 0 0 FATIMA ALI TRUSTEE 1.00 0.00 X 0 0 0 WILLIAM CANADAY TRUSTEE EMERITI 2.00 0.00 X 0 0 0 THE HONORABLE KEVIN L YORK TRUSTEE 1.00 0.00 X 0 0 0 KURT ASHLEY VP INFORMATION OFFICER 50.00 0.00 X 222197 0 67924 CYNTHIA GONYA VP OF FINANCE (THRU 05/2021) 50.00 0.00 X 92586 0 13253 JULIE SUDERMAN VP OF FINANCE (BEG 01/2022) 50.00 0.00 X 0 0 0 DEAN PRIBBENOW VP ACADEMIC AFFAIRS 50.00 0.00 X 207885 0 51161 PHILLIP RIORDAN VP STUDENT AFFAIRS 50.00 0.00 X 180437 0 58216 TIMOTHY RICORDATI VP ADMISSIONS 50.00 0.00 X 187106 0 48225 ANDREW KNAP VP DEVELOPMENT/ALUMNI 50.00 0.00 X 134385 0 39533 DIANE SALVADOR EXECUTIVE DIRECTOR OF NURSING 50.00 0.00 X 165448 0 19691 JONATHAN SHEARER EXEC DIR OF MKTNG & COMMUNICATION 50.00 0.00 X 131825 0 18436 GARY WILSON PROFESSOR, BUSINESS ADMINISTRATION 50.00 0.00 X 125991 0 21827 KRISTYN BENEDYK ASSOCIATE PROFESSOR 50.00 0.00 X 123719 0 23785 MIKE EMERSON EXEC DIR OF FACILITIES MANGEMENT 50.00 0.00 X 136207 0 10468 2241350 0 505753 23 0 1 0 ANTARTIC MECHANICAL SERVICES INC 9341 ADAM DON PARKWAY WOODRIDGE IL 60517 CONSTRUCTION SERVICES 7390197 COMPASS GROUP USA INC 2400 YORKMONT RD CHARLOTTE NC 28217 FOOD SERVICES 4166267 PROFESSIONAL PAVING 1N282 PARK BLVD GLEN ELLYN IL 60137 CONSTRUCTION SERVICES 1235426 KEYPATH EDUCATION LLC 1933 N MEACHAM RD STE 400 SCHAUMBURG IL 60173 EDUCATION SERVICES 1119181 CHRISTOPHER B BURKE ENGINEERING 9575 W HIGGINS RD STE 600 ROSEMONT IL 60018 CONSTRUCTION SERVICES 971535 37 7535981 7620167 3914128 15156148 STUDENT TUITION & FEES 812900 114591405 114591405 0 0 RESIDENCE HALLS 721310 6053012 6053012 0 0 GRANTS/LOAN ADMIN FEE 812900 565638 565638 0 0 ATHLETIC/ARTS/CULTURE 812900 38436 38436 0 0 121248491 45043 45043 85540 0 85540 85540 85540 80886509 74778489 6108020 6108020 6108020 MISCELLANEOUS REVENUE 900099 1615855 1615855 FOOD SERVICE 721310 551951 551951 EXTRACURRICULAR INCOME 900099 210122 210122 2377928 145021170 121248491 0 8616531 59743608 59743608 74444 74444 1202914 890156 288700 24058 34684914 29255620 4017839 1411455 1784327 1498835 214119 71373 4946960 4155447 593635 197878 2454948 2062156 294594 98198 43818 43818 33725 33725 176128 176128 64534 64534 5661998 5661998 1745522 1466238 209463 69821 3158000 2652720 378960 126320 1389295 1167008 166715 55572 1909 1604 229 76 2549633 2141692 305956 101985 2070274 1739030 248433 82811 2632165 2211018 315860 105287 3451175 2898987 414141 138047 845331 710078 101440 33813 BOOKS & PERIODICALS 558217 468902 66986 22329 MEMBERSHIP/SUBSCRIPTION 434372 364872 52125 17375 1064391 894088 127727 42576 130772602 114396503 13777125 2598974 4279907 2082682 21240008 28411315 4233000 4728505 6718087 2686251 90012 1757024 1544782 165325700 97533792 55813335 67791908 157906604 154066157 620969 424280 252544326 261735880 7049775 7564361 2051923 2173604 51960550 51998791 19820244 11646875 80882492 73383631 X 90737580 105730831 80924254 82621418 171661834 188352249 252544326 261735880 X 14248568 -9139686 11581533 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 155413572 4864284 -2870379 4830759 0 152576718 108660467 12437832 38541917 4226644 0 155413572 110628577 817775 1215586 4004371 -2900 108660467 109076598 -3581913 8961132 1319295 2507945 110628577 101462649 2264429 9200285 1161252 2689513 109076598 0.54110 0.39860 0.06030 0 0 3155455 3155455 110720119 67396294 43323825 18190412 16979361 1211051 33259714 13158137 20101577 67791908 COMMINGLED FUNDS 106509940 F LIMITED PARTNERSHIPS 47556217 F 154066157 INTEREST RATE SWAP AGREEMENT 9272029 ASSET RETIREMENT OBLIGATION 1108886 LIFE INCOME AGREEMENTS PAYABLE 187029 OTHER LIABILITIES 1078931 11646875 X 88278351 -9139686 7962653 -1177033 89455384 64534 55501252 55565786 145021170 71587936 0 71587936 64534 59120132 59184666 130772602 PART III, LINE 1A: FINANCIAL STATEMENT FOOTNOTE PURCHASES OF LIBRARY BOOKS ARE CAPITALIZED BASED ON THE INDIVIDUAL BOOK COST COMPARED TO THE CAPITALIZATION POLICY. THE LIBRARY BOOKS NOT CAPITALIZED ARE RECORDED AS EXPENSES. WORKS OF ART ARE CAPITALIZED IF THE COST OR FAIR MARKET VALUE IS KNOWN AT THE TIME OF RECEIPT OR PURCHASE, PER THE CAPITALIZATION POLICY. PART III, LINE 4: DESCRIPTION OF ORGANIZATION'S COLLECTIONS THE AFRICAN COLLECTIONS, PROFESSIONAL COLLECTIONS AND HISTORIC PORTRAIT COLLECTIONS OF PAINTINGS, DRAWINGS, LITHOGRAPHS, PHOTOGRAPHS, AND SCULPTURES ARE MADE AVAILABLE TO STUDENTS, FACULTY AND STAFF AND OUTSIDE CONSTITUENTS FOR THEIR EDUCATIONAL VALUE, FOR LECTURES AND PLEASURES OF VIEWING. PART V, LINE 4: INTENDED USES OF ENDOWMENT FUNDS THE PURPOSE OF THE ENDOWMENT IS TO SUPPORT THE UNIVERSITY AND ITS MISSION OVER THE LONG TERM. ACCORDINGLY, THE PRIMARY INVESTMENT OBJECTIVES OF THE ENDOWMENT ARE TO: A. PRESERVE AND INCREASE LONG-TERM REAL PURCHASING POWER OF THE FUND'S PRINCIPAL. B. PROVIDE ONGOING FINANCIAL SUPPORT IN THE FORM OF SCHOLARSHIPS, AWARDS, FACULTY CHAIRS, LECTURESHIPS, BOOK FUNDS AND OTHER SPECIFIED PURPOSES IN ACCORDANCE WITH THE BOARD OF TRUSTEE'S INVESTMENT POLICIES AND DONOR RESTRICTED AGREEMENTS. C. PROVIDE A STABLE SOURCE OF FINANCIAL SUPPORT FOR THE UNIVERSITY'S ANNUAL OPERATING BUDGET POLICY AS SET BY THE BOARD OF TRUSTEES. D. ACHIEVE A LONG RETURN ON THE PORTFOLIO OF THE GREATER OF 7% OR 5% PLUS THE AVERAGE CHANGE IN THE CONSUMER PRICE INDEX OVER THE PRIOR FIVE YEARS. PART X, LINE 2: LIABILITY FOR UNCERTAIN TAX POSITION (ASC 740) THE UNIVERSITY HAS RECEIVED A FAVORABLE DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE (IRS) STATING THAT IT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, EXCEPT FOR INCOME TAXES PERTAINING TO UNRELATED BUSINESS INCOME. THE FASB ISSUED GUIDANCE THAT REQUIRES TAX EFFECTS FROM UNCERTAIN TAX POSITIONS TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS ONLY IF THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. MANAGEMENT HAS DETERMINED THERE ARE NO MATERIAL UNCERTAIN POSITIONS THAT REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS. THE UNIVERSITY HAS ACCRUED A MODEST PROVISION FOR FEDERAL INCOME TAXES AND STATE INCOME TAXES FOR ILLINOIS, CALIFORNIA, OREGON AND VIRGINIA. THE UNIVERSITY HAS HAD NO SIGNIFICANT UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JUNE 30, 2022 AND 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF INTEREST-RATE SWAP 8,028,784. CHANGE IN ACTUARIAL VALUE OF SPLIT-INTEREST TRUSTS -66,131. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP AND GRANTS 55,501,252. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP AND GRANTS 55,501,252. PLANT ADDITIONS ADJUSTMENT 3,618,880. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 EXPLANATION OF NONDISCRIMINATION POLICY: ELMHURST UNIVERSITY POLICY IS THAT OF NON-DISCRIMINATION OF THE PUBLIC SERVED BY THE INSTITUTION AND WITH RESPECT TO THE UNIVERSITY PERSONNEL. ADVERTISEMENTS, PUBLICATIONS, BROCHURES, APPLICATIONS FOR ADMISSION, ETC., CONTAIN A STATEMENT TO THE EFFECT THAT THE UNIVERSITY COMPLIES WITH THE FEDERAL NON-DISCRIMINATION REGULATIONS, AND THEREBY DOES NOT DISCRIMINATE ON THE BASIS OF RACE, GENDER, RELIGION, COLOR, NATIONAL ORIGIN, AGE, SEXUAL ORIENTATION, OR HANDICAP DISABILITY. SCHEDULE E, PART I, LINE 6 GOVERNMENT ASSISTANCE THE UNIVERSITY RECEIVES GOVERNMENTAL FINANCIAL AID, GRANTS AND ASSISTANCE FROM THE US DEPARTMENT OF EDUCATION, STATE OF ILLINOIS, AND THE LOCAL GOVERNMENT. DUE TO COVID-19, THE US DEPARTMENT OF EDUCATION ALSO PROVIDED A HIGHER EDUCATION EMERGENCY RELIEF FUND (HEERF) GRANT TO THE UNIVERSITY. 1 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTMAKING STUDY ABROAD 32024 SUB-SAHARAN AFRICA 0 0 GRANTMAKING STUDY ABROAD 18000 CENTRAL AMERICA AND THE CARIBBEAN 0 0 GRANTMAKING STUDY ABROAD 24420 0 0 0 0 0 0 74444 0 74444 EUROPE (INCLUDING ICELAND & GREENLAND) STUDY ABROAD 32024 WIRE TRANSFER 0 SUB-SAHARAN AFRICA STUDY ABROAD 18000 WIRE TRANSFER 0 CENTRAL AMERICA AND THE CARIBBEAN STUDY ABROAD 24420 WIRE TRANSFER 0 2 1 0 0 1 0 0 PART I, LINE 2: THE STUDY ABROAD DEPARTMENT MANAGES PROGRAM AND CONTRACTUAL TERMS OF PERFORMANCE, INCLUDING SELECTING CREDENTIALED UNIVERSITIES, AND OBTAINS STUDENT COMPLETION DOCUMENTATION. THERE ARE A FEW NUMBER OF INSTANCES IN WHICH OUR UNIVERSITY SENDS STUDENTS OVERSEAS FOR A SEMESTER AND INCURS AN EXPENSE FROM THE RECEIVING UNIVERSITY. THE MAJORITY OF STUDY ABROAD INSTANCES ARE WITHIN CONTRACTUAL EXCHANGE ARRANGEMENTS WITHIN A NETWORK OF INTERNATIONAL UNIVERSITIES AND DICTATED BY CONTRACTUAL TERMS IN WHICH NO MONEY IS EXCHANGED. THE AMOUNT OF STUDENTS WHO ARE ENROLLED AT NETWORK UNIVERSITIES AND STUDY AT OUR CAMPUS FOR 1 OR 2 SEMESTERS IS EQUIVALENT TO THE AMOUNT OF OUR STUDENTS STUDYING ABROAD. PART III ACCOUNTING METHOD: PART I, LINE 3, COLUMN (F) AND PART II, LINE 1: THE UNIVERSITY ACCOUNTS FOR EXPENDITURES AND CASH GRANTS USING THE ACCRUAL METHOD. 1 SEOG FED SUPPLEMENTAL GRANT 324 309331 ENDOWED SCHOLARSHIPS 527 1197688 DONOR FUNDED SCHOLARSHIPS 56 91065 INSTITUTIONALLY FUNDED 3410 53903168 PART I, LINE 2: PROCEDURE FOR MONITORING THE USE OF GRANT FUNDS INSIDE THE U.S. THE UNIVERSITY OFFERS A WIDE VARIETY OF MERIT AND NEED-BASED SCHOLARSHIPS AND AWARDS TO MATRICULATING STUDENTS. MERIT AWARDS ARE GIVEN IN RECOGNITION OF VARIOUS ACHIEVEMENTS AS SPECIFIED IN DONORS' CORRESPONDENCE AND DOCUMENTS, OR BY UNIVERSITY POLICY. NEED-BASED AWARDS ARE PROVIDED BASED ON THE INCOME LEVEL, AVAILABILITY OF AWARDS OFFERED ELSEWHERE AND SIMILAR STANDARDS. THE UNIVERSITY'S FINANCIAL AID OFFICE USES VARIOUS METHODS FOR THE FAIR DISBURSEMENT OF GRANT FUNDS WITHIN THE REQUIREMENTS SET BY EACH GRANT SOURCE TO MONITOR COMPLIANCE. THE UNIVERSITY PRIMARILY MAKES SCHOLARSHIP GRANTS THAT HELP OFFSET TUITION AND OTHER EDUCATIONAL COSTS OF THE STUDENTS, WITH MOST DIRECTLY CREDITED AGAINST THE APPLICABLE STUDENT ACCOUNT, WHICH ASSURES PROPER USE. THE AMOUNT OF THE GRANT IS ADJUSTED BY THE FINANCIAL AID OFFICE, AS NECESSARY, BASED ON ANY SUBSEQUENT CHANGES AFFECTING THE STUDENT'S ORIGINAL ELIGIBILITY. X X X X 1 1 X X X X X 0 1 0 0 0 0 0 1 0 DR TROY D VANAKEN PRESIDENT 453110 0 47018 0 33436 0 40525 0 92709 0 666798 0 0 0 KURT ASHLEY VP INFORMATION OFFICER 185542 0 0 0 36655 0 55783 0 12141 0 290121 0 0 0 DEAN PRIBBENOW VP ACADEMIC AFFAIRS 180996 0 2000 0 24889 0 40681 0 10480 0 259046 0 0 0 PHILLIP RIORDAN VP STUDENT AFFAIRS 176544 0 2000 0 1893 0 13949 0 44267 0 238653 0 0 0 TIMOTHY RICORDATI VP ADMISSIONS 172016 0 12000 0 3090 0 13354 0 34871 0 235331 0 0 0 DIANE SALVADOR EXECUTIVE DIRECTOR OF NURSING 163828 0 250 0 1370 0 10750 0 8941 0 185139 0 0 0 ANDREW KNAP VP DEVELOPMENT/ALUMNI 134232 0 0 0 153 0 24112 0 15421 0 173918 0 0 0 JONATHAN SHEARER EXEC DIR OF MKTNG & COMMUNICATION 131687 0 0 0 138 0 9334 0 9102 0 150261 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE THE PRESIDENT IS BEING PROVIDED A HOUSE AS A CONVENIENCE TO THE UNIVERSITY AT 360 COTTAGE HILL AVENUE IN ELMHURST. THIS ALLOWS THE INDIVIDUAL TO CONDUCT BUSINESS AFFAIRS AND BE AVAILABLE TO RESPOND TO EMERGENT SITUATIONS THAT MAY ARISE. AS A CONDITION OF EMPLOYMENT, THE PRESIDENT OF ELMHURST UNIVERSITY IS REQUIRED TO RESIDE AT THE RESIDENCE THAT ALSO SERVES AS A VENUE TO CARRY OUT REGULAR UNIVERSITY BUSINESS INCLUDING ENTERTAINMENT OF TRUSTEES, EMPLOYEES, STUDENTS, DONORS, AND GUESTS OF THE UNIVERSITY. IRS FORM 990 INSTRUCTIONS REQUIRE THAT THE FAIR MARKET VALUE OF HOUSING PROVIDED TO EMPLOYEES BE REPORTED ON FORM 990, PART VII, SECTION A, COLUMN (D) AND SCHEDULE J, PART II, COLUMN (D) AS A NONTAXABLE BENEFIT. FOR TAX YEAR 2021 THE VALUE OF THE RESIDENCE IS CONSERVATIVELY ESTIMATED TO BE $74,691. THE UNIVERSITY HAS DETERMINED THAT THE VALUE OF THE HOUSING IS NOT CONSIDERED TAXABLE INCOME TO THE PRESIDENT DR. TROY D. VANAKEN AS PROVIDED FOR IN INTERNAL REVENUE CODE SECTION 119. DURING TAX YEAR 2021, THE PRESIDENT MADE THE RESIDENCE THEIR HOME FOR THE ENTIRE FISCAL YEAR. SCHEDULE J, PART II, COLUMN (D) INCLUDES $74,691 OF VALUE ASSOCIATED WITH THE USE OF THE RESIDENCE PROVIDED BY THE UNIVERSITY. TRAVEL FOR COMPANIONS TRAVEL EXPENSE REIMBURSEMENT FOR COMPANIONS IS ONLY ALLOWED FOR THE PRESIDENT AS PER HIS CONTRACT. ACCORDING TO HIS CONTRACT, WHEN DR. TROY D. VANAKEN'S SPOUSE IS REQUIRED TO ATTEND AN EVENT IN WHICH DR. VANAKEN IS REPRESENTING THE UNIVERSITY ON OFFICIAL UNIVERSITY BUSINESS, THE BUSINESS RELATED TRAVEL EXPENSES FOR DR. VANAKEN'S SPOUSE WILL ALSO BE REIMBURSED BY THE UNIVERSITY. THE SPOUSE'S TRAVEL IS NOT CONSIDERED TAXABLE ONLY WHEN THE PURPOSE IS TO CONDUCT BUSINESS ON BEHALF OF THE UNIVERSITY. THIS CONTRACT IS REVIEWED BY THE HUMAN RESOURCES COMMITTEE AND APPROVED BY THE FULL BOARD OF TRUSTEES. PERSONAL SERVICES (E.G., MAIL, CHAUFFEUR, CHEF) AN OUTSIDE SERVICE IS USED AS NEEDED TO MAINTAIN OR TO PROVIDE ANY OTHER CLEANING SERVICES NECESSARY FOR THE BUSINESS FUNCTION OF THE PRESIDENT'S HOUSE. HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES GOLF CLUB DUES REIMBURSEMENT IS ALLOWED FOR THE PRESIDENT AS PER HIS CONTRACT. PART I, LINE 4B THE FOLLOWING INDIVIDUALS LISTED ON FORM 990, PART VII, LINE 1A PARTICIPATED IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN AND HAD THE FOLLOWING AMOUNTS ACCRUED IN CALENDAR YEAR 2021 PURSUANT TO THE PLAN. - KURT ASHLEY: $42,500 - ANDREW KNAP: $14,500 - DEAN PRIBBENOW: $22,500 PART I, LINE 7 UPON DISCRETION AND APPROVAL, A PERFORMANCE-BASED BONUS MAY BE AWARDED. THESE BONUSES WERE NOT INCLUDED IN THE INDIVIDUAL'S COMPENSATION PACKAGE. A ILLINOIS FINANCE AUTHORITY 861091967 000000000 2016-12-13 20200000 REFUNDING OF 1998 AND 1999 BONDS 0 0 0 B ILLINOIS FINANCE AUTHORITY 861091967 000000000 2017-12-27 37160000 REFUNDING OF 2003 AND 2007 BONDS 0 0 0 A 20200000 200000 20000000 2002 1 0 1 1 B 37160000 260000 36900000 2010 1 0 1 1 B 0 0 1 1 0 0.03200 0.03200 1 0 1 A 0 1 0 1 1 1 JPMORGAN CHASE 16.000000000000 0 0 0 0 1 B 0 0 1 0 1 1 BANK OF AMERICA 24.000000000000 0 0 0 0 1 A 1 B 1 SCHEDULE K, PART I, COLUMN (F), LINE B: THE BONDS WERE ISSUED TO (I) CURRENTLY REFUND AND REDEEM ALL OF THE OUTSTANDING SERIES 2003 AND 2007 ELMHURST UNIVERSITY BONDS (II) CURRENTLY REFUND AND REDEEM ALL OF THE OUTSTANDING 2003 AND 2007 ELMHURST UNIVERSITY BONDS, AND (III) FINANCE OR REIMBURSE THE UNIVERSITY FOR CERTAIN COSTS INCURRED IN CONNECTION WITH THE ISSUANCE OF THE BOND AND CURRENT REFUNDING REDEMPTION OF THE REFUNDED BONDS. SCHEDULE K, PART IV, COLUMN (A), LINE 2C: REBATE COMPUTATION PERFORMED 5/26/2017. X 150 FMV X 19 3914128 FMV X 2 1497 FMV X FURNITURE 1 3975 FMV X PRINTING 1 523 FMV 0 1 0 PART I, LINE 33: ELMHURST UNIVERSITY IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. FORM 990, PART VI, SECTION A, LINE 1A ACCORDING TO THE UNIVERSITY'S BYLAWS, THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE CHAIR AND VICE CHAIR OF THE BOARD OF TRUSTEES; THE PRESIDENT OF THE UNIVERSITY; THE CHAIRS OF THE BUSINESS, DEVELOPMENT AND FACULTY AND CURRICULUM COMMITTEES; THE TRUSTEE WHO IS THE IMMEDIATE PAST CHAIR OF THE BOARD OF TRUSTEES; AND TWO TRUSTEES WHO SERVE AS AT LARGE MEMBERS OF THE COMMITTEE. THE AT LARGE MEMBERS WILL BE RECOMMENDED BY THE TRUSTEESHIP COMMITTEE TO THE BOARD FOR APPROVAL, AND WILL SERVE A TERM OF TWO YEARS ON A ROTATING BASIS. THE CHAIR OF THE BOARD OF TRUSTEES MAY DESIGNATE ANY TRUSTEE WHO IS NOT MEMBER OF THE EXECUTIVE COMMITTEE TO SERVE AS A MEMBER OF THE EXECUTIVE COMMITTEE AT ANY SPECIFIED MEETING OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL BE RESPONSIBLE FOR THE PERIODIC REVIEW AND ASSESSMENT OF THE PRESIDENT. THE EXECUTIVE COMMITTEE SHALL SERVE AS A SALARY REVIEW AND PERSONNEL COMMITTEE AND AS A FINAL REVIEWING COMMITTEE FOR GRIEVANCES, AND SHALL CONSIDER CONFIDENTIAL MATTERS BROUGHT BY INDIVIDUAL TRUSTEES. THE EXECUTIVE COMMITTEE SHALL ACT FOR THE BOARD BETWEEN REGULAR SESSIONS OF THE BOARD IN SUCH MATTERS AS IN THE JUDGMENT OF THE CHAIR OF THE EXECUTIVE COMMITTEE SHALL REQUIRE IMMEDIATE ACTION, WITH SUCH ACTIONS SUBJECT TO RATIFICATION AND REVIEW OF THE BOARD, AND SHALL TRANSACT OTHER BUSINESS AS MAY BE COMMITTED TO IT BY THE BOARD. THE EXECUTIVE COMMITTEE SHALL SERVE AS A PLANNING COMMITTEE, MONITOR THE PLANNING AS PRESENTED ANNUALLY BY THE PRESIDENT, PROVIDE STRATEGIC OVERVIEW AND OVERSIGHT OF COMMITTEE ACTIVITIES RELATING TO SUCH PLANS, AND RECOMMEND TO THE BOARD OF TRUSTEES THE INSTITUTIONAL PLANS THAT ARE IN THE BEST INTEREST OF THE UNIVERSITY. THE COMMITTEE MAY INVITE OTHER MEMBERS OF THE BOARD OF TRUSTEES TO ATTEND A MEETING OF THE EXECUTIVE COMMITTEE WITH VOICE BUT NOT VOTE. FORM 990, PART VI, SECTION A, LINE 2 THE FOLLOWING INDIVIDUALS HAS A BUSINESS RELATIONSHIP OTHER THAN THEIR RELATIONSHIP AS TRUSTEES TO THE UNIVERSITY: - WES BECTON, MARCIELA GUZMAN, FRANK CERRONE, AND KENT DAHLGREN FORM 990, PART VI, SECTION B, LINE 11B THE FINAL REVIEW FORM 990 AND ITS VARIOUS SCHEDULES WERE PREPARED BY A NATIONAL CPA FIRM, AND THEN WERE REVIEWED BY THE KEY OFFICERS OF THE ORGANIZATION PRIOR TO MAKING IT AVAILABLE TO THE BOARD OF TRUSTEES. AFTER THE KEY OFFICERS REVIEWED THE FORM, IT WAS DISTRIBUTED TO THE AUDIT COMMITTEE OF THE TRUSTEES AT THEIR SPRING MEETING. IDENTIFIED NECESSARY CHANGES WERE INCORPORATED FOLLOWING THE BOARD REVIEW PROCESS AND A FINAL COPY OF THE FILING WAS MADE AVAILABLE TO ALL MEMBERS OF THE BOARD OF TRUSTEES PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST FORMS ARE SENT TO TRUSTEES, OFFICERS, KEY EMPLOYEES (AS APPLICABLE) AND OTHERS FOR COMPLETION. THE COMPLETED FORMS ARE RETURNED TO AND REVIEWED BY THE BOARD AUDIT COMMITTEE CHAIR. THE AUDIT COMMITTEE CHAIR TOGETHER WITH THE AUDIT COMMITTEE IS RESPONSIBLE FOR ADMINISTRATION OF THIS POLICY. MATTERS OF CONCERN ARE BROUGHT TO THE CHAIR OF THE BOARD OF TRUSTEES OR THE PRESIDENT. APPROVAL OF COMPENSATION TRANSACTIONS AND OTHER TRANSACTIONS COVERED BY THE POLICY ARE DONE THROUGH A REVIEW COMPOSED ENTIRELY OF INDIVIDUALS WHO DO NOT HAVE ANY CONFLICT OF INTEREST WITH RESPECT TO THE ARRANGEMENT OR TRANSACTION AT HAND. PERSONS DETERMINED TO HAVE A CONFLICT OF INTEREST ARE PROHIBITED FROM PARTICIPATING IN THE GOVERNING BODY'S DELIBERATIONS AND DECISIONS IN TRANSACTIONS WHICH MAY RELATE TO THE CONFLICT. THEY RELY UPON INDEPENDENT COMPARABILITY DATA OR VALUATIONS PRIOR TO MAKING A DETERMINATION. MATTERS RELATED TO COMPENSATION RELY ON EXTERNAL EXPERTISE IN HIGHER EDUCATION. FORM 990, PART VI, SECTION B, LINE 15: PROCESS FOR DETERMINING PRESIDENT'S COMPENSATION- THE CURRENT PRESIDENT WAS HIRED EFFECTIVE JULY 1, 2016 AS THE RESULT OF THE PRESIDENTIAL SEARCH COMMITTEE THAT WAS CHAIRED BY A UNIVERSITY TRUSTEE AND ADVISED BY A THIRD PARTY CONSULTING FIRM. THE BOARD AMENDED AND RESTATED PRESIDENT'S CONTRACT IN 2019 WHICH SPANS THE FIVE YEARS ENDING JUNE 30, 2025, AND THE CONTRACT DEFINES THE TERMS OF COMPENSATION, WHICH WAS BASED ON A REVIEW OF COMPARABLE COMPENSATION OF SIMILARLY QUALIFIED PERSONS, SIMILAR POSITIONS, AND SIMILAR ORGANIZATIONS. THE PRESIDENT'S SALARY IS TO BE REVIEWED ANNUALLY AND THE SALARY MAY BE ADJUSTED UPWARD, BY THE SOLE DISCRETION OF THE BOARD, BASED ON THE BOARD'S ASSESSMENT OF THE PRESIDENTS' PERFORMANCE. COMPENSATION IS CONTEMPORANEOUSLY DOCUMENTED WITHIN THE PRESIDENTIAL SEARCH COMMITTEE RECORDS. FORM 990, PART VI, SECTION B, LINE 15 TOP MANAGEMENT'S (VICE PRESIDENTS AND DEANS) SALARIES ARE REVIEWED ANNUALLY BY A PROCESS SIMILAR TO ALL OTHER EMPLOYEES. THE PRESIDENT PERFORMS A FORMAL EVALUATION. USING THE CUPA-HR ANNUAL SALARY SURVEY--THE ANNUAL PERFORMANCE EVALUATION AND THE FINANCIAL CONSTRAINTS OF THE UNIVERSITY--THE PRESIDENT THEN DETERMINES THE SALARY REVISIONS WHICH ARE REVIEWED BY THE HUMAN RESOURCES COMMITTEE OF THE BOARD OF TRUSTEES. ALL OTHER KEY EMPLOYEE SALARIES ARE REVIEWED ANNUALLY BY A SIMILAR PROCESS AS THE TOP MANAGEMENT. FORMAL PERFORMANCE EVALUATIONS ARE PERFORMED BY THE SUPERVISOR OF EACH KEY EMPLOYEE WITH RECOMMENDATIONS FOR SALARY REVISIONS PROVIDED TO THE TOP MANAGEMENT EMPLOYEE OVER THAT AREA OF RESPONSIBILITY. THE EVALUATIONS AND RECOMMENDATIONS TOGETHER WITH THE COMPARISON TO THE CUPA-HR ANNUAL SALARY SURVEY AND THE PRESET BUDGET FOR SALARY INCREASES ARE REVIEWED BY EACH TOP MANAGEMENT ADMINISTRATOR WITH RECOMMENDATIONS PRESENTED TO THE PRESIDENT. FINAL APPROVAL IS GIVEN BY THE PRESIDENT. MINUTES OF THE HUMAN RESOURCES COMMITTEE DOCUMENT THE DETERMINATIONS MADE DURING EXECUTIVE SESSION. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS OF THE UNIVERSITY ARE AVAILABLE UPON REQUEST. THE CONFLICT-OF-INTEREST POLICY AND FINANCIAL STATEMENTS ARE PROVIDED TO VARIOUS STATE AGENCIES, US DEPARTMENT OF EDUCATION, VARIOUS BANKS AND OTHERS PER AGREEMENT. THE CONFLICT-OF-INTEREST POLICY IS SENT ANNUALLY TO ALL MEMBERS OF THE BOARD OF TRUSTEES, OFFICERS, KEY EMPLOYEES AND OTHER IDENTIFIED EMPLOYEES. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST-RATE SWAP 8,028,784. CHANGE IN ACTUARIAL VALUE OF SPLIT-INTEREST TRUSTS -66,131. PLANT ADDITIONS ADJUSTMENT 3,618,880. EWC PROPERTIES LLC 190 PROSPECT AVENUE ELMHURST IL 601263296 362169145 REAL ESTATE HOLDINGS IL 0 30000 ELMHURST UNIVERSITY CHARITABLE REMAINDER TRUSTS (3) 000000000 N/A IL ELMHURST UNIVERSITY T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0