2025-04-30T16:09:41-05:00 2024-06-30 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2023-07-01 410711610 UNIVERSITY OF NORTHWESTERN - ST PAUL UNIV 6516315100 3003 SNELLING AVENUE NORTH ST PAUL MN 55113 JOHN SOMMERVILLE VP FOR FINANCE & OPS/CFO 6516315100 2025-04-29 1 0 ANN NEIL P01817922 6123764500 2025-04-29 2023 2025-03-06 01:10:19Z NORTHWESTERN MEDIA DR CORBIN HOORNBEEK 3003 SNELLING AVENUE NORTH ST PAUL MN 55113 141434319 0 X WWW.UNWSP.EDU X 1902 MN WE SEEK TO REACH ALL NATIONS FOR JESUS, THROUGH CHRIST-CENTERED HIGHER EDUCATION AND MEDIA. 22 21 1714 824 507627 260450 38339415 37873224 78813122 80530205 6652827 2135982 454211 522944 124259575 121062355 22737804 22747146 0 0 48798170 48659270 958541 1002860 4056545 40942812 45224763 113437327 117634039 10822248 3428316 153074930 163660933 20767931 25839008 132306999 137821925 X SEE SCHEDULE O. FOUNDED IN 1902, UNIVERSITY OF NORTHWESTERN - ST. PAUL IS A NONDENOMINATIONAL CHRISTIAN UNIVERSITY THAT INTEGRATES THE EDUCATIONAL PHILOSOPHY OF "FAITH, LEARNING AND LIVING" THROUGH TWO FOCUSES: HIGHER EDUCATION AND MEDIA. THE MISSION OF THE UNIVERSITY IS TO EQUIP BELIEVERS TO GROW INTELLECTUALLY AND SPIRITUALLY, TO SERVE EFFECTIVELY IN THEIR PROFESSIONS, AND TO GIVE GOD-HONORING LEADERSHIP IN THE HOME, CHURCH, COMMUNITY AND WORLD. NORTHWESTERN MEDIA EXISTS TO LEAD PEOPLE TO CHRIST AND TO NURTURE BELIEVERS IN THEIR SPIRITUAL GROWTH THROUGH CHRIST CENTERED MEDIA. 0 0 46410633 22660623 57303297 SEE SCHEDULE O.ACADEMIC INSTRUCTION AND SUPPORT:THE HIGHER EDUCATION FOCUS OFFERS A VAST ARRAY OF OPPORTUNITIES WITHIN A STRONG ACADEMIC PROGRAM. NORTHWESTERN OFFERS MORE THAN 60 AREAS OF STUDY RANGING FROM ELEMENTARY EDUCATION AND PASTORAL STUDIES TO BROADCASTING/ELECTRONIC MEDIA AND PSYCHOLOGY. THE CORE COMPONENT IS THE TRADITIONAL UNDERGRADUATE PROGRAM, WHICH ENROLLS OVER 1,450 STUDENTS. THE COLLEGE OF ADULT & GRADUATE STUDIES, WHICH SERVES AN ADDITIONAL 220 STUDENTS, INCLUDES THE ADULT UNDERGRADUATE PROGRAM AND GRADUATE STUDIES. DUAL ENROLLMENT, INCLUDING PSEO/EARLY COLLEGE AND ONLINE LEARNING TOGETHER SERVE APPROXIMATELY 1,860, BRINGING TOTAL ENROLLMENT TO OVER 3,530 STUDENTS ACROSS ALL VENUES. NORTHWESTERN'S 107-ACRE LAKESIDE CAMPUS IS LOCATED IN SUBURBAN SAINT PAUL, MINNESOTA. NORTHWESTERN IS A COMMUNITY IN WHICH ALL LEARNING IS FRAMED WITHIN THE CONTEXT OF A BIBLICAL WORLDVIEW. STUDENTS WHO ENROLL AS FRESHMAN ARE REQUIRED TO COMPLETE 22 CREDITS OF BIBLE COURSES AS PART OF THEIR CORE CURRICULUM, THEREBY MAKING THEM ELIGIBLE FOR A SECOND MAJOR IN BIBLE FROM THE DEPARTMENT OF BIBLICAL AND THEOLOGICAL STUDIES. DAILY CHAPEL IS AN INTEGRAL PART OF THE TRADITIONAL PROGRAM WHERE STUDENTS HEAR WORLD-RENOWNED SPEAKERS AND PARTICIPATE IN PRAISE AND WORSHIP. NORTHWESTERN'S 35,000-PLUS ALUMNI POSITIVELY IMPACT SOCIETY THROUGH CAREERS IN LAW, EDUCATION, MEDICINE, GOVERNMENT, COMPUTER TECHNOLOGY AND FORTUNE 500 BUSINESSES, AS WELL AS IN MISSIONS, CHURCHES AND PARACHURCH MINISTRIES. 29879778 61593 4833735 SEE SCHEDULE O.NORTHWESTERN MEDIATHE UNIVERSITY BEGAN ITS MEDIA MINISTRY, KNOWN TODAY AS NORTHWESTERN MEDIA, IN 1949. ITS INCEPTION IS ATTRIBUTED TO FORMER NORTHWESTERN PRESIDENT WILLIAM F. BILLY GRAHAM, WHO BEGAN KTIS (LIFE 98.5) RADIO WITH $44,000 GENERATED FROM STUDENT DONATIONS. TODAY, THE UNIVERSITY OWNS AND OPERATES 114 FCC LICENSES THAT ARE LISTENER-SUPPORTED CHRISTIAN RADIO STATIONS, COVERING 14 MARKETS IN MINNESOTA, NORTH AND SOUTH DAKOTA, IOWA, WISCONSIN, MISSOURI, KANSAS, ILLINOIS, INDIANA, NEBRASKA, CONNECTICUT, AND MONTANA WITH A CONSOLIDATED AUDIENCE OF MORE THAN 1,400,000 LISTENERS PER WEEK. NORTHWESTERN MEDIA EXISTS TO LEAD PEOPLE TO CHRIST AND TO NURTURE BELIEVERS IN THEIR SPIRITUAL GROWTH THROUGH CHRIST-CENTERED MEDIA, INCLUDING MAJOR SPONSORSHIP OF CHRISTIAN CONCERTS IN OUR LISTENING AREA. THE UNIVERSITY'S MEDIA MINISTRY REACHES BEYOND THE UNITED STATES THROUGH FINANCIAL AND TECHNOLOGICAL PARTNERSHIPS WITH CHRISTIAN RADIO STATIONS IN BELIZE, ECUADOR, KENYA, GUAM, INDONESIA, MONGOLIA AND THAILAND. 26828713 24930 13733283 SEE SCHEDULE O. STUDENT AND AUXILIARY SERVICES:NORTHWESTERN STUDENTS ARE OFFERED A HOST OF ACADEMIC AND PERSONAL SUPPORT SERVICES AND RESOURCES TO HELP STUDENTS SUCCEED. STUDENT SERVICES INCLUDE DEGREE PLANNING, CAREER DEVELOPMENT, COUNSELING, PERSONAL HEALTH AND WELLNESS, ATHLETICS, MINISTRY OPPORTUNITIES, AND MORE. NORTHWESTERN OFFERS 4 RESIDENCE HALLS THAT ACCOMMODATE THE VARIED NEEDS OF OUR STUDENT POPULATION. DURING THE YEAR 2023-2024, ON-CAMPUS RESIDENTS TOTALED OVER 920 STUDENTS AND DINING SERVICES WERE PROVIDED TO MORE THAN 1,430 STUDENTS VIA OUR CAMPUS DINING PARTNER. OTHER AUXILIARY SERVICES PROVIDED ON CAMPUS INCLUDE TICKETING/EVENTS AND A CAMPUS STORE. 103119124 1 1 0 1 0 0 0 1 0 1 1 0 0 0 1 0 0 1 1 0 1 0 1 1 0 0 0 1 1 1 1 0 0 0 0 0 1 0 0 1 0 1 0 0 0 1 1 1 0 0 0 1 2442 0 1714 1 1 1 0 0 0 0 0 1 1 0 0 0 0 0 X 22 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 AK CO MD MA MI MN NH OH OK OR PA SC WA X JOHN SOMMERVILLE 6516315100 3003 SNELLING AVENUE N ST PAUL MS 55113 DR CORBIN HOORNBEEK PRESIDENT 45.00 0.00 X X 341493 0 36189 GROVER SAYRE CHAIR 2.00 0.00 X X 0 0 0 STEWART VAN DUZER SECRETARY 2.00 0.00 X X 0 0 0 DR NEAL RICH VICE CHAIR 2.00 0.00 X X 0 0 0 DR GEORGE KENWORTHY TRUSTEE 2.00 0.00 X 0 0 0 GINGER EWING TRUSTEE 2.00 0.00 X 0 0 0 MARK JOHNSON TRUSTEE 2.00 0.00 X 0 0 0 MARY EDWARDS TRUSTEE 2.00 0.00 X 0 0 0 STAN ERICKSON TRUSTEE 2.00 0.00 X 0 0 0 PAUL BIERHAUS TRUSTEE 2.00 0.00 X 0 0 0 DEBORAH HEDLUND TRUSTEE 2.00 0.00 X 0 0 0 ARNOLD LINDSTRAND TRUSTEE 2.00 0.00 X 0 0 0 JOHN FULLER TRUSTEE 2.00 0.00 X 0 0 0 ROBERT RICHERT TRUSTEE 2.00 0.00 X 0 0 0 TOM THOMPSON TRUSTEE 2.00 0.00 X 0 0 0 PHILIP VIERLING TRUSTEE 2.00 0.00 X 0 0 0 LEIGH HARRISON TRUSTEE 2.00 0.00 X 0 0 0 TERESA WILLIAMS TRUSTEE 2.00 0.00 X 0 0 0 DR MARGARET DIDDAMS TRUSTEE 2.00 0.00 X 0 0 0 DR RAMON PASTRANO TRUSTEE 2.00 0.00 X 0 0 0 SUSAN WILSON TRUSTEE 2.00 0.00 X 0 0 0 MEGAN DOYLE TRUSTEE 2.00 0.00 X 0 0 0 LAUREN LIBBY TRUSTEE 2.00 0.00 X 0 0 0 JOHN SOMMERVILLE VP FOR FINANCE & OPERATIONS/CFO/TREASURER 45.00 0.00 X 154880 0 33160 DR JANET SOMMERS PROVOST/SR. VP FOR ACADEMIC AFFAIRS 45.00 0.00 X 158419 0 32962 JASON SHARP SR. VP FOR MEDIA 45.00 0.00 X 177378 0 31734 NINA BARNES VP FOR PEOPLE AND CULTURE 45.00 0.00 X 136880 0 18233 SCOTT JONES ASST VP FOR BUS OPS & TECH/MEDIA 45.00 0.00 X 137334 0 30394 DAVID GATTORNA REGIONAL AND MEDIA STATION MANAGER 45.00 0.00 X 135646 0 34053 DR ALAN CURETON SENIOR ADVISOR TO THE PRESIDENT 45.00 0.00 X 141000 0 0 DAVE GORDON REGIONAL AND MEDIA STATION MANAGER 45.00 0.00 X 131233 0 29127 DR APRIL MORETON VP FOR INSTITUTIONAL ADVANCEMENT 0.00 0.00 X 151294 0 0 1665557 0 245852 33 1 1 0 BON APPETIT MANAGEMENT COMPANY 1701 AMERICAN BLVD E BLOOMINGTON MN 55425 FOOD SERVICE 3368626 TODD DEXTER & ASSOCIATES LLC 1800 PRESTON PARK BLVD PLANO TX 75093 DIRECT MAIL 1052648 GRAVITY GLOBAL 333 S 7TH ST 100 MINNEAPOLIS MN 55402 MARKETING/WEBSITE SUPPORT 671638 BLACKBAUD INC 65 FAIRCHILD STREET CHARLESTON SC 29492 SOFTWARE SERVICES 446340 CLEAR CHANNEL OUTDOOR INC PO BOX 847247 DALLAS TX 75284 BILLBOARD ADVERTISING 386761 44 37873224 546121 37873224 TUITION 611310 55273875 55273875 MEDIA 516100 9234959 4761108 171913 4301938 EVENT AND SERVICE FEES 611710 6508410 6249744 258666 STUDENT RESIDENT HOUSI 721310 5638998 5638998 FOOD SERVICE 722514 3457453 3457453 416510 416510 80530205 1819203 1819203 72627 116353 0 39305 72627 77048 149675 72627 77048 20587391 62047 20299827 32832 287564 29215 316779 316779 MISCELLANEOUS INCOME 611710 373269 373269 373269 121062355 75870315 507627 6811189 104271 104271 22446309 22446309 196566 196566 949164 419028 495697 34439 152759 152759 37719518 33406188 3536315 777015 803425 704241 80398 18786 6206648 5612287 499931 94430 2827756 2428424 316165 83167 357871 226150 128873 2848 88114 88114 1002860 1002860 116574 116574 9800199 8061563 910319 828317 2664377 1987222 364196 312959 4987670 3713985 1056078 217607 2196904 1808470 357556 30878 304834 303794 39 1001 5027060 4576303 441382 9375 2401932 1933140 84028 384764 195710 175014 10393 10303 536614 382560 151989 2065 6104272 5145546 929042 29684 1902240 1524939 345966 31335 FOOD & MEALS 3900347 3869635 3012 27700 EQUIPMENT & MAINTENANCE 2192343 2068514 113647 10182 DUES & SUBSCRIPTIONS 839993 606251 194247 39495 STUDENT STIPEND 364939 364939 1242770 1053785 81650 107335 117634039 103119124 10458370 4056545 X 7021880 4809078 19462760 24370266 44960 12051 4201573 1261596 100000 85714 225872 252228 958591 854915 175860978 99194193 72039991 76666785 24371689 28458910 754803 542095 17253525 19254051 6639286 7093244 153074930 163660933 5869620 6815825 876051 1150174 7319296 6189413 4940535 220002 193959 6482962 6549102 20767931 25839008 X 110150738 110972798 22156261 26849127 132306999 137821925 153074930 163660933 X 3428316 2266058 -179448 X X 0 1 X 1 1 1 X 27931959 30511155 38212344 38339415 37873224 172868097 27931959 30511155 38212344 38339415 37873224 172868097 1798149 171069948 676761 545963 722616 1248030 1891830 5085200 24846 137240 228605 507627 898318 99285 242060 386989 314353 373269 1415956 180267571 393213100 0.94900 0.95620 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2019 AMOUNT: $ 99,285. 2020 AMOUNT: $ 242,060. 2021 AMOUNT: $ 386,989. 2022 AMOUNT: $ 314,353. 2023 AMOUNT: $ 373,269. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 0 0 0 0 1 118948 118948 0 PART II-B, LINE 1: THE UNIVERSITY PAID MEMBERSHIP DUES TO ORGANIZATIONS WHERE THE DUES COVERED A PORTION OF LOBBYING EXPENSES. 0 1339567 0 0 X X X 0 22112282 2130560 2611290 832000 26022132 21207532 710796 1773449 1579495 22112282 23485201 993109 -2507778 763000 21207532 19115020 716153 4368028 714000 23485201 18722410 870622 265287 743299 19115020 0.17620 0.63220 0.19160 0 1 1 9543947 9543947 135412100 75419988 59992112 28348078 23774205 4573873 2556853 2556853 76666785 TRUST AND ANNUITY OBLIGATIONS 514370 OTHER LIABILITIES 268750 ASSET RETIREMENT OBLIGATION 423467 REFUNDABLE US GOV'T STUDENT LOAN FUNDS 477972 LEASE LIABILITY 4864543 6549102 100234099 2266058 -374170 1891888 98342211 116574 22603570 22720144 121062355 94719173 0 94719173 116574 22798292 22914866 117634039 PART III, LINE 4: THE UNIVERSITY HOLDS AN ART COLLECTION, WHICH FURTHERS OUR EDUCATIONAL EXEMPT PURPOSE BY PROVIDING ART STUDENTS WITH VARIOUS EXAMPLES OF ARTWORK FOR SCHOLARLY RESEARCH. PART V, LINE 4: ENDOWMENT FUNDS ARE USED TO PROVIDE SCHOLARSHIPS AND OTHER FINANCIAL ASSISTANCE FOR STUDENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN SPLIT INTEREST AGREEMENTS -23,876. CHANGE IN VALUE OF INTEREST RATE SWAP -155,572. INTERCOMPANY ELIMINATIONS -194,722. PART XI, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL GRANTS/AWARDS 22,642,875. RENTAL EXPENSES -39,305. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL GRANTS/AWARDS 22,642,875. INTERCOMPANY ELIMINATIONS 194,722. RENTAL EXPENSES -39,305. 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 UNIVERSITY'S NONDISCRIMINATORY POLICY IS PUBLISHED ON THE UNIVERSITY'S WEBSITE HOMEPAGE SCHEDULE E, PART I, LINE 6 THE UNIVERSITY ADMINISTERS GOVERNMENT PROGRAMS SUCH AS WORK STUDY, PERKINS LOANS, PELL GRANTS, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS, AND THE FEDERAL DIRECT LOAN PROGRAM THAT PROVIDE FINANCIAL ASSISTANCE TO ITS STUDENTS. 1 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDY ABROAD AND STUDENT TRIPS 181000 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDENT TRIPS 102000 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STUDY ABROAD AND STUDENT TRIPS 47000 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY ABROAD AND STUDENT TRIPS 31000 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 GRANTS SCHOLARSHIPS 27500 NORTH AMERICA 0 0 GRANTS SCHOLARSHIPS 1296 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 GRANTS SCHOLARSHIPS 167770 0 0 0 0 0 0 557566 0 557566 SCHOLARSHIPS & TUITION ASSISTANCE EUROPE (INCLUDING ICELAND & GREENLAND) 2 27500 OTHER N/A N/A SCHOLARSHIPS & TUITION ASSISTANCE NORTH AMERICA 1 1296 OTHER N/A N/A SCHOLARSHIPS & TUITION ASSISTANCE EAST ASIA AND THE PACIFIC 12 167770 OTHER N/A N/A 0 0 0 0 0 0 PART I, LINE 2: SCHOLARSHIPS AND GRANTS FOR STUDENTS ARE APPLIED DIRECTLY TO A STUDENT'S UNIVERSITY ACCOUNT AND APPLIED TO TUITION, FEES, ROOM AND BOARD. ALL FINANCIAL AID IS SUBJECT TO REVISION BASED ON AVAILABILITY, CHANGES IN FAMILY CONTRIBUTION AND/OR CREDIT LOAD. SATISFACTORY ACADEMIC PROGRESS MUST BE MAINTAINED ACCORDING TO STANDARDS PRESCRIBED BY THE UNIVERSITY. ANNUAL RENEWAL OF FINANCIAL AID IS CONTINUOUS IF INSTITUTIONAL FINANCIAL NEED REMAINS, ALL REQUIRED DOCUMENTS ARE COMPLETED BY THE PUBLISHED DEADLINE AND SATISFACTORY ACADEMIC PROGRESS IS MAINTAINED CONSISTENT WITH THE UNIVERSITY'S POLICY. PART I, LINE 3: THE UNIVERSITY USES THE ACCRUAL METHOD TO ACCOUNT FOR EXPENDITURES OUTSIDE OF THE UNITED STATES. X X X X X 1 TODD DEXTER & ASSOCIATES LLC 1800 PRESTON PARK BLVD PLANO TX 75093 DIRECT MAIL 0 2486304 1002860 1483444 2486304 1002860 1483444 AK AZ CO DC DE ID IN IA ME MD MA MI MN MO MT NV NH OH OK OR PA SC SD TX VT WY 1 ONECHILD PO BOX 62600 COLORADO SPRINGS CO 80962 841087689 501(C)(3) 45692 0 N/A N/A GENERAL OPERATING SUPPORT MN ADULT & TEEN CHALLENGE 740 E 24TH STREET MINNEAPOLIS MN 55404 411517351 501(C)(3) 12500 0 N/A N/A GENERAL OPERATING SUPPORT REGIONS HOSPITAL FOUNDATION 640 JACKSON STREET SAINT PAUL MN 55101 411888902 501(C)(3) 10000 0 N/A N/A PROJECT SUPPORT SAMARITAN'S PURSE PO BOX 3000 BOONE NC 28607 581437002 501(C)(3) 7399 0 N/A N/A FUNDRAISER SUPPORT 4 0 SCHOLARSHIPS & TUITION ASSISTANCE 1474 22446309 N/A N/A PART I, LINE 2: FOR GRANTS TO UNRELATED ORGANIZATIONS, SENIOR MANAGEMENT GENERALLY MONITORS RECIPIENT SPENDING VIA COMMUNICATION WITH THE ORGANIZATIONS TO SEE HOW OPERATIONS ARE RUNNING. A SITE VISIT BY SENIOR MANAGEMENT MAY ALSO BE CONDUCTED TO CHECK THE STATUS OF THE ORGANIZATION AND/OR MONITOR THE PROGRESS OF THE INTENDED PROJECT. SCHOLARSHIPS AND GRANTS FOR STUDENTS ARE APPLIED DIRECTLY TO A STUDENT'S UNIVERSITY ACCOUNT AND APPLIED TO TUITION, FEES, ROOM AND BOARD. ALL FINANCIAL AID IS SUBJECT TO REVISION BASED ON AVAILABILITY, CHANGES IN FAMILY CONTRIBUTION AND/OR CREDIT LOAD. SATISFACTORY ACADEMIC PROGRESS MUST BE MAINTAINED ACCORDING TO STANDARDS PRESCRIBED BY THE UNIVERSITY. ANNUAL RENEWAL OF FINANCIAL AID IS CONTINUOUS IF INSTITUTIONAL FINANCIAL NEED REMAINS, ALL REQUIRED DOCUMENTS ARE COMPLETED BY THE PUBLISHED DEADLINE AND SATISFACTORY ACADEMIC PROGRESS IS MAINTAINED CONSISTENT WITH THE UNIVERSITY'S POLICY. X X X 1 1 X X X X 1 1 0 0 0 0 0 0 0 DR CORBIN HOORNBEEK PRESIDENT 308341 0 0 0 33152 0 3635 0 32554 0 377682 0 0 0 JASON SHARP SR. VP FOR MEDIA 176209 0 0 0 1169 0 5459 0 26275 0 209112 0 0 0 DR JANET SOMMERS PROVOST/SR. VP FOR ACADEMIC AFFAIRS 156644 0 0 0 1775 0 5049 0 27913 0 191381 0 0 0 JOHN SOMMERVILLE VP FOR FINANCE & OPERATIONS/CFO/TREA 104621 0 0 0 50259 0 4896 0 28264 0 188040 0 0 0 DAVID GATTORNA REGIONAL AND MEDIA STATION MANAGER 134757 0 0 0 889 0 4222 0 29831 0 169699 0 0 0 SCOTT JONES ASST VP FOR BUS OPS & TECH/MEDIA 136405 0 0 0 929 0 4387 0 26007 0 167728 0 0 0 DAVE GORDON REGIONAL AND MEDIA STATION MANAGER 129817 0 0 0 1416 0 4142 0 24985 0 160360 0 0 0 NINA BARNES VP FOR PEOPLE AND CULTURE 133577 0 0 0 3303 0 4131 0 14102 0 155113 0 0 0 DR APRIL MORETON VP FOR INSTITUTIONAL ADVANCEMENT 0 0 0 0 151294 0 0 0 0 0 151294 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS: HEATHER HOORNBEEK, SPOUSE OF PRESIDENT- NOT INCLUDIBLE IN TAXABLE COMPENSATION SINCE USED FOR BUSINESS PURPOSES HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: DR. HOORNBEEK FORGIVABLE HOUSING LOAN- TAXABLE COMPENSATION PART I, LINES 4A-B NAME: DR. APRIL MORETON, DESCRIPTION: SEVERANCE, CURRENT YEAR AMOUNT: $151,294. A PUBLIC FINANCE AUTHORITY 273866124 2014-07-01 25320000 SEE PART IV 0 0 0 A 19080000 25320000 6200000 19120000 2014 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 1 1 BMO HARRIS BANK NA 9.000000000000 0 0 0 0 1 A 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: PUBLIC FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 07/15/2014 SCHEDULE K, PART I, COLUMN (F): DEBT CONSOLIDATION, ATHLETIC COMPLEX RENOVATION, STUDENT HOUSING ACQUISITION DR CORBIN HOORNBEEK PRESIDENT LOAN FOR MORTGAGE X 100000 85714 0 1 1 85714 HEATHER HOORNBEEK SPOUSE OF CURRENT PRESIDENT 18692 EMPLOYMENT COMPENSATION 0 X 39 546121 STOCK MARKET QUOTES 1 0 1 0 PART I, LINE 32B: COLUMN (B) REPRESENTS NUMBER OF CONTRIBUTIONS. PART I, LINE 33: NONCASH CONTRIBUTIONS THAT ARE VALUED BELOW THE $20,000 CAPITALIZATION THRESHOLD ARE NOT RECORDED AS REVENUE. FORM 990, PART VI, SECTION A, LINE 1A UNIVERSITY OF NORTHWESTERN - ST. PAUL HAS AN EXECUTIVE COMMITTEE, CONSISTING OF THE CHAIR, VICE-CHAIR AND SECRETARY OF THE BOARD OF TRUSTEES, THE PRESIDENT OF THE UNIVERSITY, AND THE CHAIR OF EACH OF THE STANDING COMMITTEES OF THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE HAS THE AUTHORITY TO ACT ON BEHALF OF THE BOARD OF TRUSTEES ON ALL MATTERS EXCEPT FOR THE FOLLOWING, WHICH ARE RESERVED FOR THE FULL BOARD OF TRUSTEES: PRESIDENTIAL SELECTION AND TERMINATION, TRUSTEE AND BOARD OFFICER SELECTION, CHARTER AND BYLAW AMENDMENT, CHANGING THE INSTITUTION'S MISSION, INCURRING CORPORATE INDEBTEDNESS BEYOND WHAT THE BOARD OF TRUSTEES HAS AUTHORIZED BY RESOLUTION, APPROVAL OF THE ANNUAL BUDGET, AND CONFERRAL OF DEGREES. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF THE FORM 990 WAS PROVIDED TO THE UNIVERSITY'S VP OF FINANCE AND OPERATIONS/CFO AND CONTROLLER FOR A DETAIL REVIEW AFTER ALL CHANGES WERE MADE AND QUESTIONS ANSWERED. A FINAL COPY OF THE FORM 990 WAS THEN REVIEWED BY THE BOARD OF TRUSTEES PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE UNIVERSITY'S CONFLICT OF INTEREST POLICY APPLIES TO ITS BOARD OF TRUSTEES, OFFICERS AND MANAGEMENT EMPLOYEES. THE BOARD OF TRUSTEES SIGN A CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS. IT IS THE RESPONSIBILITY OF ALL INTERESTED PERSONS TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST AS SOON AS THEY BECOME AWARE OF THEM. DISCLOSURES ARE MADE TO THE PRESIDENT OF THE UNIVERSITY OR THE CHAIR OF THE BOARD OF TRUSTEES, AS APPROPRIATE, WHO BRING THE MATTER TO THE ATTENTION OF THE ENTIRE BOARD OF TRUSTEES. THE BOARD THEN DETERMINES IF A CONFLICT EXISTS, WHETHER IT IS MATERIAL, AND WHETHER IT IS JUST, FAIR AND REASONABLE TO THE UNIVERSITY OF NORTHWESTERN - ST. PAUL. THE INTERESTED PERSON LEAVES THE ROOM FOR DISCUSSIONS INVOLVING, AND MAY NOT VOTE ON, THE RELEVANT CONTRACT OR TRANSACTION. WHEN THERE IS A CONFLICT OF INTEREST DURING A BOARD MEETING DISCUSSION, IT IS DOCUMENTED IN THE BOARD MINUTES THAT THE PERSON(S) WITH THE CONFLICT LEFT THE ROOM FOR THE COURSE OF THE DISCUSSION. FORM 990, PART VI, SECTION B, LINE 15A PRESIDENT OF UNIVERSITY OF NORTHWESTERN - ST. PAUL: NORTHWESTERN RECEIVES COMPARISON DATA FROM FOUR MAIN SOURCES: (1) COUNCIL FOR CHRISTIAN COLLEGES AND UNIVERSITIES, (2) CUPA, (3) YAFFE & CO, AND (4) COMPARABLE FORM 990S. ALL FOUR OF THESE SOURCES TARGET HIGHER EDUCATION COMPENSATION. THE OFFICE OF HUMAN RESOURCES IS RESPONSIBLE FOR REVIEWING THE SURVEYS RELATED TO TOP MANAGEMENT AS WELL AS ALL EMPLOYEES AND ENSURE THAT WAGES ARE WITHIN AN APPROPRIATE RANGE. THE PRESIDENT'S SALARY WAS OFFICIALLY REVIEWED BY THE BOARD OF TRUSTEES AND DOCUMENTED IN THE MEETING MINUTES. THE LAST REVIEW WAS COMPLETED IN 2024. OTHER OFFICERS, DIRECTORS, TRUSTEES AND KEY EMPLOYEES: UNIVERSITY OF NORTHWESTERN - ST. PAUL HAS A FORMAL SALARY PROGRAM WITH SALARY GRADES AND SALARY RANGES FOR POSITIONS. UNIVERSITY OF NORTHWESTERN - ST. PAUL ANNUALLY PARTICIPATES IN MULTIPLE SALARY SURVEYS AND ALSO REVIEWS LOCAL SALARY DATA TO DETERMINE SALARY GRADE RANGES. THE PROCESS IS REVIEWED BY HUMAN RESOURCES AND SALARY GRADE INCREASES ARE MADE TO THE MINIMUM, MIDPOINT AND MAXIMUM OF THE PAY RANGE. VICE PRESIDENT SALARIES ARE REVIEWED BY THE PRESIDENT. THE PRESIDENT HAS ACCESS TO SALARY SURVEY DATA AND FROM THERE A REQUEST FOR SALARY CHANGE IS MADE BY THE PRESIDENT AND PRESENTED TO HUMAN RESOURCES FOR REVIEW AND PROCESSING. THE LAST REVIEW INCLUDING COMPARABILITY DATA WAS IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. IT DOES NOT MAKE ITS GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -23,876. CHANGE IN VALUE OF INTEREST RATE SWAP -155,572. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. 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