2025-05-02T09:05:08-05:00 2024-06-30 363168081 SIKICH LLC 17335 GOLF PARKWAY SUITE 500 BROOKFIELD WI 53045 990 2023-07-01 362191242 CONCORDIA UNIVERSITY CONC 7087718300 7400 AUGUSTA STREET RIVER FOREST IL 603051499 RANDALL BARFIELD CFO 7087718300 2025-04-29 1 0 JILL M BOYLE CPA P01246734 2627549400 2025-04-29 2023 2025-03-06 01:10:19Z CONCORDIA UNIVERSITY CHICAGO RANDALL BARFIELD 7400 AUGUSTA STREET RIVER FOREST IL 603051499 86277499 0 1709 X WWW.CUCHICAGO.EDU X 1864 IL LIBERAL ARTS CHRISTIAN UNIVERSITY FOR ALL WHO SEEK TO DEVELOP THEIR FULL POTENTIAL. 18 18 1265 1250 0 0 15195006 8750032 80391950 77086770 -691445 -667337 -52523 -10130 94842988 85159335 19311567 18416272 0 0 38253424 35327270 0 0 2180521 33719041 31378419 91284032 85121961 3558956 37374 74907655 79638638 50349424 54980627 24558231 24658011 X FOUNDED IN 1864, CONCORDIA UNIVERSITY CHICAGO IS A LIBERAL ARTS-BASED CHRISTIAN UNIVERSITY LOCATED IN RIVER FOREST, ILLINOIS. ROOTED IN ITS CHRISTIAN HERITAGE OF ENGAGING KNOWLEDGE AND FAITH, THE UNIVERSITY ASPIRES TO BE THE DESTINATION UNIVERSITY FOR ALL WHO SEEK TO DEVELOP THEIR FULL INDIVIDUAL POTENTIAL THROUGH A DISTINCTIVE, INNOVATIVE AND DYNAMIC ENVIRONMENT OF EXPLORATION, CREATIVITY AND DISCOVERY FOR LEADING LIVES OF SERVANT-MINDED LEADERSHIP. MORE THAN 6,000 FULLTIME STUDENTS ARE ENROLLED IN MORE THAN 100 UNDERGRADUATE, MASTER'S AND DOCTORAL PROGRAMS. CONCORDIA-CHICAGO ENSURES THAT 100 PERCENT OF UNDERGRADUATE STUDENTS RECEIVE SOME FORM OF FINANCIAL AID AND ACTIVELY DEVELOPS ADDITIONAL NEED-BASED SCHOLARSHIP SUPPORT FOR LOCAL STUDENTS. IT ALSO MANAGES OUTREACH TO HISTORICALLY UNDERREPRESENTED STUDENT POPULATIONS, WORKING SPECIFICALLY WITH ELEMENTARY AND MIDDLE SCHOOL STUDENTS AND FAMILIES TO ENSURE THEY ARE PREPARED TO ENTER COLLEGE IN THE FUTURE. 0 0 65627128 18416272 67461769 EDUCATION, GENERAL AND OTHER - OPERATION OF HIGHER EDUCATION AND INSTRUCTION DIVISIONS INCLUDING SUPPORT PROGRAMS DEVOTED TO RELIGIOUS EDUCATION, ENCOURAGEMENT AND UNDERSTANDING FOR BOTH MASTER'S LEVEL AND DOCTORAL GRADUATE STUDENTS, AS WELL AS UNDERGRADUATE STUDENTS. (FALL 2023 TOTAL ENROLLMENT - 5,066) 3834657 1318911 CONFERENCES, WORKSHOPS, AND OTHER UNIVERSITY EVENTS - EACH FISCAL YEAR, CONCORDIA UNIVERSITY CHICAGO HOSTS SEVERAL EVENTS WHICH CONTRIBUTE TO THE ACCOMPLISHMENT OF THE UNIVERSITY'S MISSION. EVENTS INCLUDE EDUCATIONAL CONFERENCES, WORKSHOPS, STUDENT LED THEATRE PRODUCTIONS AND ATHLETIC EVENTS. NOT ONLY DO THESE EVENTS ENHANCE OUR STUDENTS' EDUCATIONAL EXPERIENCE, BUT THEY ALSO HELP EDUCATE INDIVIDUALS FROM THE OVERALL COMMUNITY. 2113122 5270635 COLLEGE STUDENT ROOM AND BOARD - CONCORDIA UNIVERSITY CHICAGO, LIKE MOST OTHER COLLEGES/UNIVERSITIES, PROVIDES ROOM AND BOARD TO ITS STUDENTS. DURING THIS REPORTING PERIOD, 551 STUDENTS LIVED IN THE DORMS. 2577885 3035455 OPERATION OF CHILDCARE, EARLY CHILDHOOD, AND PRIMARY PROGRAMS FOR CHILDREN, ALL OF WHICH INCLUDE A STRONG EDUCATIONAL COMPONENT, AS WE AS A CORE CHRISTIAN VALUE COMPONENT. LAST YEAR, THE EARLY CHILDHOOD CENTER SERVED NEARLY 200 CHILDREN. 2577885 3035455 74152792 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 0 1 1 0 1 1 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 207 0 1265 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 18 18 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X RANDY BARFIELD 7082093350 7400 AUGUSTA STREET RIVER FOREST IL 603051499 DOMINIC SALVINO CHAIR BOARD 3.00 X X 0 0 0 MICHELLE KAZMIERCZAK VICE CHAIR BOARD 3.00 X X 0 0 0 JEFF SCHWARZ SECRETARY 3.00 X X 0 0 0 REV ERIC ANDRAE BOARD MEMBER 1.00 X 0 0 0 JOHN BLAKKAN BOARD MEMBER 1.00 X 0 0 0 REV ALLAN BUSS BOARD MEMBER 1.00 X 0 0 0 SETH KLEMMER BOARD MEMBER 1.00 X 0 0 0 JOHN KRAUSE BOARD MEMBER 1.00 X 0 0 0 CHRISTOPHER KROHE BOARD MEMBER 1.00 X 0 0 0 THOMAS MCCAIN BOARD MEMBER 1.00 X 0 0 0 LARRY RICHARDSON BOARD MEMBER 1.00 X 0 0 0 BRUCE SCHULTZ BOARD MEMBER 1.00 X 0 0 0 FRANK SIMEK BOARD MEMBER 1.00 X 0 0 0 JENNIFER SIUKOLA BOARD MEMBER 1.00 X 0 0 0 VIRGINIA TERRELL BOARD MEMBER 1.00 X 0 0 0 JOHN THOELKE BOARD MEMBER 1.00 X 0 0 0 DR ALSION WITTE BOARD MEMBER 1.00 X 0 0 0 REV MATTHEW ZICKLER BOARD MEMBER 1.00 X 0 0 0 RUSSELL DAWN PRESIDENT 48.00 2.00 X 262165 0 55503 RANDALL BARFIELD CFO 48.00 2.00 X 211204 0 14072 JEFFREY HYNES VICE PRESIDENT 45.00 5.00 X 188335 0 43215 ELI HESTERMANN VP ACADEMICS 50.00 X 178387 0 22654 JAMIE KOWALCZYK VICE PRESIDENT 50.00 X 167408 0 35917 GWEN KANELOS VICE PRESIDENT 50.00 X 159432 0 22796 THERESA MIYASHITA PROFESSOR 50.00 X 197227 0 9748 PAMELA KONKOL PROFESSOR 50.00 X 157696 0 10237 SCOTT WARD AVP FOR DEVELOPMENT 50.00 X 154896 0 30152 KRISTEN BAYER PROFESSOR 50.00 X 149567 0 14617 LYNN HUNNICUTT DEAN 50.00 X 147911 0 26697 1974228 0 285608 41 0 1 0 RELEARNIT INC 209 SAINT LOUIS ST FLORISSANT MO 630315025 STUDENT SERVICES & RECRUITMENT 3641469 EDUCATORS ADVANCEMENT GROUP 20624 ABBEY WOODS CT N FRANKFORT IL 604233198 STUDENT SERVICES & RECRUITMENT 3544831 SODEXO CORPORATION 10 EARHART DR WILLIAMSVILLE NY 142217078 STUDENT DINING SERVICES 2837406 RAGNAR BENSON LLC 250 S NORTHWEST HWY PARK RIDGE IL 600684237 CONSTRUCTION SERVICES 1102448 NATIONAL MANAGEMENT RESOURCES CORPORATIO PO BOX 1224 LAGRANGE GA 302410024 PLANT/MAINTENANCE SERVICES 1062819 20 61717 1070630 4170669 3447016 82779 8750032 TUITION AND FEES 611310 67461769 67461769 ROOM & BOARD 611310 5270635 5270635 EARLY CHILDHOOD CENTER 611600 2979411 2979411 CONFERENCES AND OTHER CAMPUS EVEN 611710 1318911 1318911 BOOKSTORE 611710 56044 56044 77086770 19972 19972 399882 398690 1192 1192 1192 7625 694934 -687309 -687309 -687309 10768 61717 24540 -13772 -13772 CAMPUS PHONE/CAMPUS CARD 611710 2450 2450 2450 85159335 77086770 0 -677467 18388991 18388991 27281 27281 1451898 762642 332731 356525 27608882 22904577 3899351 804954 1224321 997092 178296 48933 3197434 2604003 465638 127793 1844735 1502360 268646 73729 177298 177298 113900 113900 5007265 5007265 10243500 10243500 649093 580464 41195 27434 1581880 1158367 318520 104993 3730886 3379887 327636 23363 1021217 915508 55479 50230 1540523 1462927 61526 16070 3586053 3454812 92237 39004 688381 152720 535661 BAD DEBT 1040301 1040301 PROGRAM ACTIVITIES 430899 430899 MEMBERSHIPS 179497 179497 1387726 880233 507493 85121961 74152792 8788648 2180521 1379266 245125 233996 4848542 7623792 8600288 73521 0 3173326 2890355 98860594 40391175 57884567 58469419 205750 4539187 4379159 74907655 79638638 6024715 5978971 5540752 5013305 10370000 7472609 28125942 36199962 288015 315780 50349424 54980627 X 19447229 18565671 5111002 6092340 24558231 24658011 74907655 79638638 X 37374 62406 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 28476306 1330628 3708923 693743 376887 32445227 25404270 1750874 2995786 632516 1042108 28476306 30580634 751749 -3864906 721411 1341796 25404270 23228631 669794 7639557 690797 266551 30580634 24705467 590584 -1144661 658725 264034 23228631 0.31024 0.45999 0.22977 0 1 1 1919643 1919643 80364373 32715822 47648551 4562948 1161942 3401006 11237550 6513411 4724139 776080 776080 58469419 DUE FROM CONCORDIA UNIVERSITY FOUNDATION 91683 FUNDS HELD IN TRUST 1948759 CHARITABLE REMAINDER AND LEAD TRUSTS 688493 INTEREST RATE SWAP AGREEMENT 1650224 4379159 REFUNDABLE GOVERNMENT STUDENT LOAN FUNDS 11148 OBLIGATIONS UNDER CAPITAL LEASE 304632 315780 X PART III, LINE 1A: AS STATED IN THE UNIVERSITY'S AUDITED FINANCIAL STATEMENTS, NOTE 2, "THE UNIVERSITY HAS A COLLECTION OF ART OBJECTS, MOST OF WHICH WERE CONTRIBUTED TO THE UNIVERSITY. THE VALUE OF THESE OBJECTS IS NOT RECORDED IN THE ACCOMPANYING CONSOLIDATED STATEMENT OF FINANCIAL POSITION. CONCORDIA UNIVERSITY CHICAGO'S BOARD OF REGENTS HAS GIVEN MANAGEMENT THE AUTHORITY TO SELL A SIGNIFICANT PORTION OF THE COLLECTION TO THE EXTENT THAT SUCH OBJECTS ARE NOT NECESSARY FOR THE FURTHERANCE OF THE MISSION OF THE UNIVERSITY." PART III, LINE 4: THE UNIVERSITY HAS A COLLECTION OF ART OBJECTS, MOST OF WHICH WERE CONTRIBUTED TO THE UNIVERSITY WITHOUT SOLICITATION. NEARLY ALL OF THESE OBJECTS ARE PAINTING OR SCULPTURES MANY SHARE RELIGIOUS THEMES, WHICH ARE CONSISTENT WITH THE UNIVERSITY'S LUTHERAN CHURCH MISSOURI SYNOD HERITAGE AND BELIEF. THE OBJECTS HELP THE UNIVERSITY FURTHER ITS EXEMPT STATUS BY PROVIDING AN OVERALL CAMPUS ENVIRONMENT CONDUCIVE OF EDUCATION AND LEARNING, ACTING AS EDUCATIONAL TOOLS USED TO DEMONSTRATE VARYING ARTISTIC STYLES AND THEMES, AND PROVIDING A CONNECTION TO THE UNIVERSITY'S MISSION STATEMENT BY DEMONSTRATING THE VALUES OF "CREATIVITY, COMPETENCE AND COMPASSION." PART V, LINE 4: DONATIONS GIVEN TO CONCORDIA UNIVERSITY FOUNDATION ARE FOR ENDOWMENTS THAT ULTIMATELY ASSIST CONCORDIA UNIVERSITY'S EDUCATIONAL AND RELIGIOUS ACTIVITIES. DONORS HAVE PLACED RESTRICTIONS ON THE ENDOWMENT PAYOUT IN THE FOLLOWING WAYS: 1) FINANCIAL AID GIVEN TO CONCORDIA UNIVERSITY STUDENTS, 2) SUPPORT OF CONCORDIA UNIVERSITY'S STUDENT SERVICES AND ACADEMICS, AND 3) SUPPORT OF CONCORDIA UNIVERSITY'S MAINTENANCE AND OPERATIONS OF PLANT AND UNIVERSITY GENERAL OPERATIONS. PART X, LINE 2: CONCORDIA UNIVERSITY CHICAGO AND THE FOUNDATION ARE ORGANIZATIONS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) OF 1986, AS AMENDED AND, AS SUCH, ARE EXEMPT FROM FEDERAL INCOME TAX ON INCOME EARNED RELATED TO EXEMPT ACTIVITIES UNDER IRC SECTION 501(A). IN ADDITION, THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT CONCORDIA UNIVERSITY CHICAGO AND THE FOUNDATION ARE NOT PRIVATE FOUNDATIONS. THE UNIVERSITY EVALUATES THEIR UNCERTAIN TAX POSITIONS ON AN ANNUAL BASIS, AND THERE HAVE BEEN NO RECORDED UNCERTAIN TAX POSITION RECORDED IN 2023, 2022, AND 2021. THEREFORE, NO PROVISION OR LIABILITY FOR INCOME TAXES HAS BEEN INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE UNIVERSITY FILES VARIOUS FEDERAL AND STATE NON-PROFIT TAX RETURNS. THE UNIVERSITY IS NO LONGER SUBJECT TO U.S. FEDERAL OR STATE EXAMINATIONS BY TAX AUTHORITIES PRIOR TO 2020. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 CONCORDIA UNIVERSITY CHICAGO PUBLISHES ITS POLICY OF RACIAL NONDISCRIMINATION IN LOCAL PRINT MEDIA, ON ITS WEBSITE AT CUCHICAGO.EDU AND VIA RECRUITMENT MATERIALS DISTRIBUTED BY THE OFFICE OF UNDERGRADUATE ADMISSION. SCHEDULE E, PART I, LINE 6 CONCORDIA UNIVERSITY SERVES AS A PASSTHROUGH GRANTOR FOR SEVERAL FEDERAL STUDENT FINANCIAL ASSISTANCE PROGRAMS. THESE FEDERAL PROGRAMS INCLUDE: FEDERAL PERKINS LOAN PROGRAM, FEDERAL PELL GRANT PROGRAM, FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT PROGRAM, FEDERAL WORK STUDY PROGRAM, AND THE FEDERAL EDUCATION LOAN PROGRAM. IN ADDITION TO FEDERAL PROGRAMS, CONCORDIA UNIVERSITY ALSO PARTICIPATES IN THE ILLINOIS COOPERATIVE WORK STUDY GRANT PROGRAM. 0 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES STUDENT RECRUITMENT AND ACADEMIC SUPPORT SERVICES 478486 EUROPE 0 0 GRANTMAKING STUDY ABROAD PROGRAM 27281 0 0 0 0 0 0 505767 0 505767 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM STUDY ABROAD PROGRAM 27281 WIRE TRANSFER 0 FAIR MARKET VALUE 0 0 0 0 0 0 MAROON & GOLD BANQUET 72485 61717 10768 1882 20547 1842 150 119 72485 61717 10768 1882 20547 1842 150 119 24540 -13772 1 STUDENT SCHOLARSHIPS AND FELLOWSHIPS 994 18388991 PART I, LINE 2: STUDENTS' ELIGIBILITY TO RECEIVE FINANCIAL ASSISTANCE FROM CONCORDIA UNIVERSITY CHICAGO IS DETERMINED BY POLICY APPROVED BY THE BOARD OF REGENTS. ON A BASIS OF CAREFUL ANALYSIS OF THE FINANCIAL STATEMENTS, THE DIRECTOR OF FINANCIAL AID DETERMINES THE AMOUNT OF AID AVAILABLE FROM VARIOUS SOURCES. NEXT, THE AMOUNT THAT THE STUDENT AND HIS OR HER FAMILY CAN REASONABLY BE EXPECTED TO PROVIDE IS CALCULATED. THE DIFFERENCE IS CALLED "DEMONSTRATED NEED." FINANCIAL ASSISTANCE IS AWARDED BASED ON THE STUDENT'S DEMONSTRATED NEED FOR THAT YEAR. CONCORDIA CHICAGO PROVIDES SCHOLARSHIPS. ALL RECIPIENTS ARE UNRELATED EXCEPT FOR TUITION BENEFITS PROVIDED UNDER CONCORDIA CHICAGO'S TUITION GRANT PROGRAM TO ELIGIBLE EMPLOYEES, THEIR SPOUSES, AND DEPENDENTS. THIS TUITION GRANT PROGRAM IS IN ACCORDANCE WITH IRC SECTION 117(D). CONCORDIA UNIVERSITY CHICAGO ALSO PROVIDES STUDENT ASSISTANCE THROUGH WORK-STUDY. X 1 1 X X X 0 0 0 0 0 0 0 0 0 RUSSELL DAWN PRESIDENT 262165 0 0 0 0 0 28710 0 26793 0 317668 0 0 0 JEFFREY HYNES VICE PRESIDENT 188335 0 0 0 0 0 16179 0 27036 0 231550 0 0 0 RANDALL BARFIELD CFO 211204 0 0 0 0 0 4500 0 9572 0 225276 0 0 0 THERESA MIYASHITA PROFESSOR 197227 0 0 0 0 0 8526 0 1222 0 206975 0 0 0 JAMIE KOWALCZYK VICE PRESIDENT 167408 0 0 0 0 0 15851 0 20066 0 203325 0 0 0 ELI HESTERMANN VP ACADEMICS 178387 0 0 0 0 0 5388 0 17266 0 201041 0 0 0 SCOTT WARD AVP FOR DEVELOPMENT 154896 0 0 0 0 0 4590 0 25562 0 185048 0 0 0 GWEN KANELOS VICE PRESIDENT 159432 0 0 0 0 0 14037 0 8759 0 182228 0 0 0 LYNN HUNNICUTT DEAN 147911 0 0 0 0 0 1781 0 24916 0 174608 0 0 0 PAMELA KONKOL PROFESSOR 157696 0 0 0 0 0 9251 0 986 0 167933 0 0 0 KRISTEN BAYER PROFESSOR 149567 0 0 0 0 0 3850 0 10767 0 164184 0 0 0 PART I, LINE 1A IRS INSTRUCTIONS TO FORM 990 REQUIRE THAT THE FAIR MARKET VALUE OF HOUSING PROVIDED TO EMPLOYEES BY THEIR EMPLOYERS BE REPORTED ON FORM 990, PART VII, SECTION A AND SCHEDULE J, PART II. AS A CONDITION OF EMPLOYMENT, THE PRESIDENT OF THE UNIVERSITY IS REQUIRED TO RESIDE ON CAMPUS PREMISES. THE RESIDENCE SERVES BOTH AS A PERSONAL RESIDENCE AS WELL AS A VENUE FOR CARRYING OUT UNIVERSITY BUSINESS. THE UNIVERSITY HAS DETERMINED THAT THE VALUE OF THE USE OF THE PERSONAL RESIDENCE IS NOT CONSIDERED TAXABLE INCOME TO THE PRESIDENT AS PROVIDED IN INTERNAL REVENUE CODE SECTION 119. FOR TAX YEAR 2023-24, THE PRESIDENT'S USE OF THE RESIDENCE IS CONSERVATIVELY ESTIMATED AT $67,068. THIS ESTIMATED VALUE IS BASED ON A FAIR RENTAL VALUE OF $5,589 PER MONTH FOR SIMILAR HOUSES IN THE AREA. THIS VALUE INCLUDES MAINTENANCE OF THE PROPERTY, LANDSCAPING, AND SNOW REMOVAL. A ILLINOIS FINANCE AUTHORITY 861091967 2013-07-01 17000000 CURRENT REFUNDING ISSUE OF 2009 BOND ISSUANCE 0 0 0 A 9527391 17000000 349201 16650799 2009 1 0 1 1 A 0 1 0 0 0.00390 0.00390 1 0 1 A 0 0 0 1 1 0 0 0 0 A 0 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: ILLINOIS FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 07/01/2013 SCHEDULE K, PART III LINE 9: WRITTEN PROCEDURES FOR NON-QUALIFIED BONDS-THE ORGANIZATION DID NOT ESTABLISH WRITTEN PROCEDURES TO ENSURE THAT ALL NONQUALIFIED BONDS ARE REMEDIATED IN ACCORDANCE WITH THE REQUIREMENTS UNDER SECTIONS 1.141-2 AND 148 AT YEAR END. HOWEVER, AN ANNUAL REVIEW IS PERFORMED TO ENSURE THAT CONDITIONS REQUIRED UNDER SECTION 1.145-2 ARE MET. THE REQUIREMENTS UNDER SECTION 148 ARE NOT APPLICABLE, AS 100% OF THE FUNDS RECEIVED UPON ISSUANCE OF THE OUTSTANDING TAX EXEMPT BONDS WERE IMMEDIATELY DISBURSED FOR QUALIFIED PURPOSES, THUS PROVIDING NO ASSETS THAT COULD BE SUBJECT TO THE PROVISION OF SECTION 148. THEREFORE, NO BONDS MUST BE REMEDIATED IN ACCORDANCE TO SECTION 1.141-12 SCHEDULE K, PART IV, LINE 2C: BOND PROCEEDS WERE COMPLETELY EXPENSED ON DATE OF ISSUANCE, JUL 1, 2013. AS BONDS ARE FULLY EXPENDED, REBATE CALCULATION IS NOT NEEDED. SCHEDULE K, PART V: CONCORDIA UNIVERSITY HAS NOT VIOLATED ANY APPLICABLE REQUIREMENTS FOR TAX EXEMPT BONDS BENEFITTING THE UNIVERSITY. THE UNIVERSITY IS WORKING WITH BOND COUNSEL TO ESTABLISH WRITTEN PROCEDURES TO ENSURE FUTURE TIMELY IDENTIFICATION OF FEDERAL TAX REQUIREMENTS AND EXPECTS TO IMPLEMENT SUCH PROCEDURES AT A FUTURE DATE. X 2 82779 FMV 0 0 0 FORM 990, PART VI, SECTION A, LINE 7A THERE ARE 17 VOTING MEMBERS OF THE UNIVERSITY'S BOARD OF REGENTS: 1) THE PRESIDENT OF THE NORTHERN ILLINOIS DISTRICT OF LUTHERAN CHURCH MISSOURI SYNOD (LCMS), EX OFFICIO, ELECTED BY CONVENTION OF THE NORTHERN ILLINOIS DISTRICT OF THE LCMS. 2) FOUR MEMBERS ELECTED BY CONVENTION OF THE NORTHERN ILLINOIS DISTRICT OF THE LCMS. 3) FOUR MEMBERS ELECTED BY THE LCMS AT THE NATIONAL LCMS CONVENTION. 4) SEVEN MEMBERS ELECTED BY THE BOARD OF REGENTS. 5) ONE MEMBER IS APPOINTED BY THE PRAESIDIUM OF THE LCMS. ALL VOTING MEMBERS OF THE BOARD OF REGENTS HAVE THE SAME POWER AND AUTHORITY, REGARDLESS OF THE MANNER IN WHICH THEY ARE ELECTED TO THE BOARD. EACH VOTING MEMBER SERVES A THREE YEAR TERM AND MAY NOT SERVE MORE THAN NINE CONSECUTIVE YEARS. TERMS ARE STAGGERED. THE PRESIDENT OF THE UNIVERSITY ALSO SERVES AS AN EX OFFICIO, NON-VOTING MEMBER OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B TO PREPARE THE 990, THE UNIVERSITY CONTROLLER PROVIDED THE NECESSARY INFORMATION TO THE UNIVERSITY'S AUDITOR, SIKICH. SIKICH PREPARED THE FIRST DRAFT AND SENT IT TO THE CONTROLLER FOR REVIEW, ALONG WITH A LIST OF QUESTIONS. THE CONTROLLER AND CFO REVIEWED THE DRAFT AND RESPONDED TO THE QUESTIONS. SIKICH THEN PROVIDED A FINAL DRAFT TO THE CONTROLLER WHICH WAS THEN SENT TO THE BOARD OF REGENTS' FINANCE COMMITTEE. THE COMMITTEE WAS AUTHORIZED, THROUGH BOARD RESOLUTION, TO ACT ON BEHALF OF THE ENTIRE BOARD TO REVIEW AND APPROVED THE IRS FORM 990. DURING THIS REVIEW, MEMBERS OF THE COMMITTEE WERE ABLE TO PROVIDE QUESTIONS OR COMMENTS TO THE CFO AND CONTROLLER, IF ANY. IF NEEDED, THE 990 WAS AMENDED. THE COMMITTEE THEN VOTED TO APPROVED THE FILING OF THE IRS FORM 990 THROUGH RESOLUTION. AFTER THIS VOTE, THE IRS FORM 990 WAS SENT TO THE ENTIRE BOARD OF REGENTS. THE FINAL, APPROVED, IRS FORM 990 WAS THEN FILED. WHILE NOT ANTICIPATED, IF A QUESTION OR CONCERN IS EXPRESSED BY A MEMBER OF THE BOARD OF REGENTS AT AN UPCOMING BOARD MEETING WHICH RESULTS IN A NEED TO CORRECT THE ALREADY FILED RETURN, THE CONTROLLER WILL WORK WITH SIKICH TO FILE AN AMENDED RETURN. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO COMPLETE CONFLICT OF INTEREST QUESTIONNAIRES. ADDITIONALLY, ALL OFFICERS AND KEY EMPLOYEES ARE REGULARLY REQUIRED TO SELF-REPORT AND DISCLOSE ANY SUCH CONFLICTS ON AN ONGOING BASIS. FORM 990, PART VI, SECTION B, LINE 15 IN ADDITION TO APPROVING THE CONCORDIA UNIVERSITY'S ANNUAL CONTRACT, THERE ARE SEVERAL OTHER INDIVIDUALS WHO HAVE THEIR SALARIES RENEWED AND APPROVED BY THE FINANCE COMMITTEE OF THE BOARD OF REGENTS. THESE INDIVIDUALS INCLUDE THE PRESIDENT'S CABINET AND ALL INDIVIDUALS WHO HAVE THE ABILITY TO AFFECT EMPLOYEES' COMPENSATION. THIS INCLUDES ALL MEMBERS OF THE HUMAN RESOURCES AND PAYROLL DEPARTMENTS, AS WELL AS THE UNIVERSITY'S CONTROLLER, ASSISTANT CONTROLLER AND DIRECTOR OF BUDGET SERVICES. ANNUALLY, THE DIRECTOR OF HUMAN RESOURCES AND THE ASSISTANT CONTROLLER PROVIDE THE BOARD WITH THESE INDIVIDUALS' COMPENSATION, AS WELL AS COMPARATIVE DATA FROM SIMILAR UNIVERSITIES. ONCE THE DATA IS REVIEWED, ANNUAL COMPENSATION INCREASES FOR THESE INDIVIDUALS ARE EITHER APPROVED OR REJECTED. THE APPROVAL OR REJECTION IS DOCUMENTED THROUGH A FORMAL BOARD OF RESOLUTION OF THE CONCORDIA UNIVERSITY BOARD OF REGENTS. FORM 990, PART VI, SECTION C, LINE 19 CONCORDIA UNIVERSITY MAKES ITS ARTICLES OF INCORPORATION, BYLAWS, CONFLICT OF INTEREST POLICY, WHISTLE BLOWER POLICY, IRS FORM 990, AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE GENERAL PUBLIC ON ITS WEBSITE. (HTTP://WWW.CUCHICAGO.EDU/ABOUTCONCORDIA/OURMISSION/FINANCIALINFORMATION/) FORM 990, PART XI, LINE 9: EQUITY TRANSFER TO CONCORDIA UNIVERSITY FOUNDATION -43,914. CHANGE IN TRUST VALUE 235,058. CHANGE IN VALUE OF LIFE INSURANCE 13,416. UNREALIZED GAIN ON INTEREST RATE SWAP AGREEMENT -142,154. CONCORDIA UNIVERSITY FOUNDATION 7400 AUGUSTA STREET RIVER FOREST IL 60305 237055802 FORMED TO PROMOTE CONCORDIA UNIVERSITY IL 501(C)(3) LINE 12A, I CONCORDIA UNIVERSITY 1 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 CONCORDIA UNIVERSITY FOUNDATION C 1070630 FMV CONCORDIA UNIVERSITY FOUNDATION R 399675 FMV