2022-04-28T16:34:59-07:00 2021-06-30 990 2020-07-01 362167855 DOMINICAN UNIVERSITY DOMI 7083662490 7900 Division Street River Forest IL 603051099 Mark Titzer VP of Finance 7083662490 2022-04-28 1 11 0 AAL2 2020 2022-09-23 18:48:47Z MARK C TITZER 7900 DIVISION STREET RIVER FOREST IL 60305 111836068 0 0928 X www.dom.edu X 1901 IL As a Sinsinawa Dominican sponsored institution, Dominican University prepares students to pursue truth, give compassionate service and participate in the creation of a more just and humane world. 30 27 1552 223 0 0 13785939 18149617 89426201 91444127 1801968 1665343 636449 444068 105650557 111703155 37568379 33982612 0 0 42998822 40753408 0 0 2140921 26444419 30528743 107011620 105264763 -1361063 6438392 139867080 154609403 48900675 45816396 90966405 108793007 Dominican University provides Undergraduate and Graduate instruction to students, and administers all of its programs without discrimination of race, color, gender, religion, national or ethnic origin, disability, age, marital status, or sexual orientation. As a Sinsinawa Dominican sponsored institution, Dominican University prepares students to pursue truth, give compassionate service, and participate in the creation of a more just and humane world. 0 0 71371713 33982612 68178096 Instructional Support includes areas related to teaching, research and advising. The University provides an intellectually integrated, mission-centered educational environment with hundreds of avenues for its students at the undergraduate and graduate levels to explore career interests and experience diverse cultures and international environments. It offers more than 50 undergraduate degree options, 18-plus graduate degrees including a Physician Assistance program, a PhD program, research opportunities, demanding academics, personal attention and deep interactions in classes that average 12 students. It is deeply committed to enhancing student experiences domestically and abroad. It is committed to the highest quality education-and an intentional affordability that makes it accessible to all. 8336368 0 7963347 Academic Support is provided under the leadership of the Provost and the Associate Provost of the university, and supports the institutional areas of the university. Faculty are supported by the Center for Teaching Excellence whose mission is to support all faculty at all stages of their career as it relates to their role as teachers, student advisers, scholars, and citizens of the community and the university. Faculty committees exist to allow input and transparency into core decisions of the university. The Faculty Senate provides a central voice for all faculty. The Rebecca Crown Library provides library services to students, faculty, staff and the community. 11349225 0 10841390 Student Services is comprised of the Admissions (Enrollment Office), Financial Aid Office, Dean of Students Office, Student Involvement, Student Success and Engagement, and Athletics. The Vice President for Enrollment Management oversees the Admissions and Financial Aid offices. By working closely with the marketing department, the Admissions team is responsible for recruiting new and transfer students. By complying with federal and state regulations, the Financial Aid Office is responsible for packaging financial aid for students based on limits set by federal and state governance. Most students receive some form of scholarships or grants. External audits are conducted by various agencies for finance and financial aid. The Dean of Students and Student Success and Engagement Offices, which include (Wellness, Advising, Career Services, and Student Activities) work closely with students to prepare for holistic experiences. Training, tutoring, and various areas of support are the many resources that are provided. Career services help to prepare students for employment during and after their academic tenure. The Athletic Director oversees the university's 14 athletic sports and applies gender equity among the sports. The Athletic Department provides intercollegiate competition opportunities for student athletes of the university regardless of race, gender, ethnicity, or orientation. 3092120 0 4461294 Auxiliary services include student housing, campus dining, and the Performing Arts Theater. The university offers five residence halls (one at its Priory Campus). Housing includes a variety of options ranging from single and double rooms, to suites. Students who live in the residence halls are expected to purchase the campus meal plan; some specific exceptions are allowed. Some adjustments were made to provide adequate distance for COVID relief, particularly at our Priory Campus. The Performing Arts Theater offers a variety of musical and theater productions. The theater productions are integrated with the Undergraduate Theater Program which supports their theater curriculum. Many students participant in the performances, assist with stage crew set up and tear down, and ticket collections. Many events were cancelled in FY2020-21 due to COVID-19. 3092120 0 4461294 94149426 1 1 0 0 0 0 0 1 1 1 1 0 0 0 1 1 1 0 1 1 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 X 241 0 1 1552 1 0 1 UK 0 0 0 1 1 0 0 0 0 0 0 0 0 X 30 27 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X Doris Dumas - Associate VP Finance 7083662490 7900 Division St River Forest IL 60305 Donna M Carroll President 65 0 X X 377617 0 68779 Roberto Curci Dean of Brennan School of Business 50.00 0 X 231467 0 40866 Genaro Balcazar VP Enrollment Mgmt and Marketing 50.00 0 X 203523 0 40455 Jeffrey Carlson Provost & VP of Academic Affairs 50.00 0 X 208728 0 28524 Sara Acosta VP for the University Advancement 50.00 0 X 162224 0 39010 Jill Albin-Hill VP for Operations and Technology, CIO 50.00 0 X 158596 0 27485 Mark Titzer VP for Finance & Administration 50.00 0 X 170672 0 10908 Kavita Dhanwada Dean of Borra College of Health Sciences 50.00 0 X 149751 0 24931 Chad Rohman Dean Rosary College of Arts & Sciences 50.00 0 X 131439 0 37411 Jacob Bucher Dean of College of Applied Social Sciences 50.00 0 X 130960 0 36579 Khalid Razaki Professor 40.00 0 X 154301 0 9247 Daniel Condon Professor, Economics; Business Law & Ethics 40 0 X 130679 0 27400 Cyrus Grant Professor, Computer Science 40 0 X 125449 0 30865 Katherine Marek Director and Professor School Info Sciences 40 0 X 136366 0 18347 Kathleen Odell Associate Dean of Brennan School of Business 40 0 X 119072 0 34869 Barrington Price VP for Student Success and Engagement 50 0 X 116856 0 21013 Claire Noonan VP for Mission and Ministry 50.0 0 X 96599 0 29290 Sara Quinn Faculty Trustee 30 0 X 71286 0 27237 Michael Kiyosaki Trustee & Executive in Residence, BSB 25 0 X 26267 0 0 Matthew Toles Trustee 3 0 X 6400 0 0 Kristen Garcia Student Trustee 5 0 X 5922 0 0 Thomas D Abrahamson Trustee-Chair 10 0 X X 0 0 0 Kevin M Killips Trustee-Immediate Past Chair 5 0 X X X 0 0 0 Anne M Kohler Trustee-Chair Elect 5 0 X X 0 0 0 Patricia O'Neill Baker Trustee 3 0 X 0 0 0 Jean Brennan Trustee 3 0 X 0 0 0 Mary Ann Brown Trustee 3 0 X 0 0 0 Mary E Callow Trustee 3.00 0 X 0 0 0 Mark Carroll Trustee 3.00 0 X 0 0 0 Mary Ann Cronin Trustee 3.00 0 X 0 0 0 Paul C Darley Trustee 3.00 0 X 0 0 0 Thomas Dee Trustee 3.0 0 X 0 0 0 Mark Fields Trustee 3.00 0 X 0 0 0 Yonhee Gordon Trustee 3.00 0 X 0 0 0 Mary Jo Herseth Trustee 3.00 0 X 0 0 0 Steven Holli Trustee 3.00 0 X 0 0 0 Judith A Jewison OP Trustee 3.00 0 X 0 0 0 Bernadine Karge OP Trustee 3.00 0 X 0 0 0 Joseph Moskal Trustee 3 0 X 0 0 0 Patricia A Mulcahey OP Trustee 3 0 X 0 0 0 Martin J Noll Trustee 3 0 X 0 0 0 Antonio Ortiz Trustee 3 0 X 0 0 0 Raymond C Parmer Trustee 3 0 X 0 0 0 William Rogalla Trustee 3 0 X 0 0 0 Steven R Thomma Trustee 3 0 X 0 0 0 Hugh Toner Trustee 3 0 X 0 0 0 2914174 0 553216 49 1 1 0 Pepper Construction 643 North Orleans Street Chicago IL 60610 Construction 2869802 Quest Food Services 2500 S Highland Ave Suite 250 Lombard IL 60148 Food services 1412290 Able Building Maintenance PO Box 39000 San Francisco CA 941390001 Janitorial Services 1158281 Ward Contracting 5117 Dansher Rd Countryside IL 60525 Construction 949171 Collegis LLC 1415 W 22nd St Suite 300 Oak Brook IL 60523 Education and marketing services 857561 34 X 0 0 350559 0 11598614 6200444 240193 18149617 Tuition and Fees 611310 86509892 86509892 0 0 Auxiliary (Housing and Board) Revenues 611710 4461292 4461292 0 0 Tuition Payment & Finance Fee Revenues 611310 472943 472943 0 0 0 0 0 0 91444127 1008878 0 0 1008878 0 0 0 0 0 0 0 0 0 0 731417 0 74952 0 656465 0 656465 0 0 656465 19600 350559 57961 -38361 0 -38361 0 0 0 0 0 0 0 0 0 0 0 0 Indirect Cost Recovery Revenues 611310 201313 0 0 201313 281116 0 0 281116 482429 111703155 91444127 0 2109411 0 0 33982612 33982612 0 0 0 0 2195761 1261102 748013 186646 0 0 0 0 30431085 26516290 3079892 834903 1336368 1126858 143674 65836 4319569 3865257 199025 255287 2470625 2227504 152183 90938 4086674 3082563 643709 360402 178957 0 178957 0 82156 0 82156 0 0 0 0 0 0 0 0 0 0 0 543425 0 543425 0 1954630 1719765 195888 38977 3082205 2132159 791695 158351 1120565 1120565 0 0 0 0 0 0 1157688 844703 297336 15649 137806 136358 1143 305 0 0 0 0 362653 295277 36747 30629 1514417 1287254 215805 11358 0 0 0 0 3411000 2488824 876067 46109 675224 519898 147560 7766 Federal HEERF Fund Grants I and II 4609381 4609381 0 0 Restricted Grants and Gifts 4027760 3415811 611949 0 Equipment and Maintenance 1909501 1870117 29192 10192 Contracted Food-Student Board 1591396 1591396 0 0 83305 55732 0 27573 105264763 94149426 8974416 2140921 3076 2533 6249652 11054335 2969444 939551 4906348 4339683 0 0 0 0 0 0 0 0 757557 758664 140764381 66199858 73636639 74564523 46059310 56452262 0 0 0 0 0 0 5285054 6497852 139867080 154609403 7729652 7289333 0 0 108833 113824 28528523 27730596 941183 874251 0 0 0 0 0 0 11592484 9808392 48900675 45816396 X 47717417 57459824 43248988 51333183 90966405 108793007 139867080 154609403 X 6438392 0 0 0 0 11388210 X X 0 1 X 1 1 1 X 11033879 11630506 15204042 13785939 18149617 69803983 11033879 11630506 15204042 13785939 18149617 69803983 6855099 62948884 1557334 1441593 1809928 1801968 1514417 8125240 126634 136272 39891 40905 0 343702 0 0 0 0 0 0 78272925 434651594 0.80422 0.79060 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 X X X Teaching 0 0 0 40834155 2932215 9298085 1275000 0 74952 51714503 40444991 1937249 -114096 1365000 0 68989 40834155 35577238 3856756 2298346 1200000 0 87349 40444991 33028471 1839914 1993076 1200000 0 84223 35577238 30280238 302904 3519187 1000000 0 73858 33028471 0.2 0.57 0.23 0 0 0 3070652 3070652 0 115397378 50496963 64900415 0 6579838 6432909 146929 0 14636902 9269986 5366916 0 1079611 0 1079611 74564523 Beneficial Interest in a Perpetual Trust 3226130 Other-Retirement Plan 2395411 Beneficial Interest in Trusts & Split Interest 876311 6497852 0 Financial Instruments-Interest Rate Swap Agreements 7389688 Deferred Compensation 2395411 Lease Obligation 23293 9808392 X 89166714 11388210 0 0 57961 11446171 77720543 0 33982612 33982612 111703155 71340112 0 0 0 57961 57961 71282151 0 33982612 33982612 105264763 Schedule D, Part III, Line 1 Collections, which are acquired mostly through donations, and has been since the University's inception, are not reflected in the Statements of Activities or in the Statements of Financial Position. Rather, these are displayed throughout the University. Schedule D, Part III, Line 4 The University's permanent collection of works of art are mainly for teaching, research, and exhibition. Most pieces of art are tagged and logged in the inventories and archives. These collections of works of art are displayed in many places throughout the campus. Schedule D, Part V, Line 4 The University's endowment provides revenue to support its mission. It consist of approximately 245 individual funds established for a variety of purposes, mostly for student scholarships. It includes donor restricted funds, funds designated by the Board of Trustees, and pledges receivable. Net assets associated with endowed funds, including funds designated by the Board of Trustees to function as endowment, are classified and reported based on the donor's intent. The University complies with the Uniformed Prudent Management of Institutional Funds (UPMIFA) to allocate the accumulations of earnings of the funds, and follows the Board of Trustees approved Endowment Spending Policy. Schedule D, Part X, Line 2 The University has received a favorable determination letter from the Internal Revenue Service stating that the University is exempt from federal income taxes under the provisions of Section 501(c)3 of the Internal Revenue Code of 1986, as amended, except for income taxes pertaining to unrelated business income. Management has determined that there are no material uncertain positions that require recognition in the financial statements and does not expect that to change in the next 12 months. The University has properly not accrued any provision for income taxes for the University. There are no interest or penalties recognized in the Statements of Activities or the Statements of Financial Position. Schedule D, Part XI, Line 2d Fundraising expenses of $57,961 Schedule D, Part XI, Line 4b This amount represents institutional student financial aid and restricted scholarships of $33,982,612, that were netted to total revenues in the Statements of Activities for FY2020-21. Schedule D, Part XII, Line 2d Fundraising expenses of $57,961 Schedule D, Part XII, Line 4b This amount represents student financial aid and restricted scholarships of $33,982,612, that were netted to total revenues in the Statements of Activities for FY2020-21. 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 nondiscrimination policy is published on the external and internal school's websites, and in general paper circulation that serves segments of the community. Also it is noted in certain emails and school brochures related to student admission and programs. Schedule E, Part I, Line 6 The University receives funds from the U.S. Department of Education for several student financial assistance programs, including the Federal Pell Grant Program, Federal Supplemental Educational Opportunity Grant Program, Federal Work-Study Program, Federal Direct Lending, and the Teacher Education Assistance for College and Higher Education Grant Program. The University also receives various state funding from Illinois, which includes the Illinois Monetary Assistance Program (MAP). Central America and the Caribbean 0 0 Investments Investments domiciled in Grand Caymans 4370737 0 0 4370737 Scholarships to students North America (including Canada and Mexico, but not the United States) 88 1976276 Credited to Tuition Account 0 Scholarships to students Central America and the Caribbean 9 220239 Credited to Tuition Account 0 Scholarships to students Europe (including Iceland and Greenland) 7 172277 Credited to Tuition Account 0 Scholarships to students South America 2 51620 Credited to Tuition Account 0 Scholarships to students Sub-Saharan Africa 2 35142 Credited to Tuition Account Scholarships to students Middle East and North Africa 5 26494 Credited to Tuition Account 0 Scholarships to students South Asia 1 16500 Credited to Tuition Account 0 Scholarships to students Russia and the newly independent States 1 9500 Credited to Tuition Account 0 Federal HEERF Grants I & II North America (including Canada and Mexico, but not the United States) 128 177450 Direct grant payments to students Non-cash: Some students requested that HEERF grants pay their tuition balances, at which time the funds were credited to their tuition accounts and not directly paid to the student. 0 0 0 0 0 0 Schedule F, Part I, Line 1 Investments held in a foreign bank had a market value of $4,370,737 as of June 30, 2021. Schedule F, Part I, Line 2 The University's Financial Aid Office monitors and awards financial aid to domestic and foreign national students. This office ensures federal compliance requirements, and is responsible for establishing and maintaining effective internal controls as they comply with certain laws, regulations, contracts and grants. Some of the university's foreign national students are awarded institutional merit scholarships. Schedule F, Part I, Line 3 The University's awards all financial aid to students and complies with the requirements of the U.S. Department of Education. In compliance with University policies, the University awarded $2,508,048 to foreign national students. Benefit Concert Annual (Virtual) 370159 350559 19600 1000 0 0 16886 16981 23094 0 0 370159 350559 19600 1000 0 0 16886 16981 23094 57961 -38361 1 Institutional scholarships to students. 2013 0 33982612 The University awards scholarships to eligible students and foreign national students based on its policies. These amounts are applied as non-cash to students' tuition accounts and results in a reduction of tuition costs. These are direct costs to the University. Federal HEERF I & II Grants-related to COVID 19 1476 2526138 Direct grant payments to students Non-cash: Some students requested that HEERF grants pay their tuition balances, at which time the funds were credited to their tuition accounts and not directly paid to the student. Schedule I, Part I, Line 2 The University receives funds from the U.S. Department of Education for several student financial assistance programs, including the Federal Pell Grant Program, Federal Supplemental Educational Opportunity Grant Program, Federal Work-Study Program, Federal Direct Lending, and the Teacher Education Assistance for College and Higher Education Grant Program. The University also receives various state funding from Illinois, which includes the Illinois Monetary Assistance Program (MAP). The university uses the FAFSA (federal form) to apply federal aid. State aid is provided by student per the state. It uses institutional policy to apply institutional funds. X 1 1 X X X X 0 1 0 0 0 0 0 0 0 Donna M Carroll President 318691 0 0 0 15000 0 82808 0 11970 0 428469 0 0 0 Jeffrey Carlson Provost & VP of Academic Affairs 187737 0 0 0 0 0 33788 0 15727 0 237252 0 0 0 Mark Titzer VP for Finance & Administration 151171 0 0 0 0 0 29883 0 525 0 181579 0 0 0 Roberto Curci Dean of Brennan School of Business 212155 0 0 0 0 0 33854 0 0 0 246009 0 0 0 Genaro Balcazar VP Enrollment Mgmt and Marketing 184523 0 0 0 0 0 30560 0 28895 0 243978 0 0 0 Sara Acosta VP for the University Advancement 145526 0 0 0 0 0 26877 0 28831 0 201234 0 0 0 Jill Albin-Hill VP for Operations and Technology, CIO 142245 0 0 0 0 0 26318 0 17517 0 186080 0 0 0 Kavita Dhanwada Dean of Borra College of Health Sciences 134471 0 0 0 0 0 24595 0 15616 0 174682 0 0 0 Chad Rohman Dean Rosary College of Arts & Sciences 117439 0 0 0 0 0 22673 0 28737 0 168849 0 0 0 Jacob Bucher Dean of College of Applied Social Sciences 117334 0 0 0 0 0 21932 0 28273 0 167539 0 0 0 Khalid Razaki Professor 128788 0 0 0 0 0 34427 0 333 0 163548 0 0 0 Daniel Condon Professor, Economics; Business Law & Ethics 117613 0 0 0 0 0 21138 0 19327 0 158078 0 0 0 Cyrus Grant Professor, Computer Science 101449 0 0 0 0 0 31550 0 23315 0 156314 0 0 0 Katherine Marek Director and Professor School Info Sciences 116314 0 0 0 0 0 27763 0 10636 0 154713 0 0 0 Kathleen Odell Associate Dean of Brennan School of Business 106625 0 0 0 0 0 19862 0 27454 0 153941 0 0 0 Schedule J, Part I, Line 1a Payments for the business use of personal residence. The University makes an annual payment of $15,000 to the President for the use of her home for university functions. This arrangement is authorized by the Board of Trustees and is included as part of the President's employment contract. It is also included in the President's taxable income. Schedule J, Part I, Line 3 The Board of Trustees appoints the President of the University. An external and independent search firm is engaged to bring qualified candidates for consideration. An internal search committee is formed, which is made up mostly of Trustees, certain faculty, staff and students. Qualified candidates are vetted by the internal search committee and suggested to a small group of college personnel for further review. Salaries and benefits are benchmarked among peer institutions. Once a candidate is selected, a written contract is presented to the candidate, and is signed by the candidate. Schedule J, Part I, Line 4 The Board of Trustees established a Deferred Compensation Plan and a Non Qualified 457(F) Plan for the President of the University. The amount accrued in calendar year 2020 for the Deferred Plan was $0; the amount accrued in the Non Qualified Plan 457(F) was $38,075. These amounts are included as Deferred Income on both Part VII and on Schedule J. The President may exercise these plans upon separation from the University. A Village of River Forest Cook County IL 366006070 2014-10-28 3074527 Bond Refinance 0 1 0 B Village of River Forest Cook County IL 366006070 2014-10-10 10000000 Bond Refinance 0 1 0 C Illinois Finance Authority 861091967 2014-08-20 19800000 Bond Refinance 0 0 0 A 1192380 0 3074527 0 0 0 0 0 0 0 3074527 0 1 0 1 1 B 3878254 0 10000000 0 0 0 0 0 0 0 10000000 0 1 0 1 1 C 0 0 19800000 0 0 0 0 0 0 0 19800000 0 1 0 1 1 A 0 0 1 1 0 0 0 0 B 1 1 1 1 0 0.02 0.02 0 0 0 C 0 0 1 1 0 0 0 0 A 0 0 0 1 1 0 0 0 0 B 0 0 0 1 1 0 0 0 0 C 0 0 0 1 1 0 0 0 0 A 0 B 0 C 1 Schedule K, Part I, Column a-10/28/2014 3,074,527 Village of River Forest Cook County IL During 2009, the Village of River Forest, Illinois, in the county of Cook, issued $16,200,000 of 20 year adjustable-rate Industrial Project Revenue Bonds. Pursuant to a loan agreement dated December 1, 2009, the Village of River Forest loaned the proceeds of the bond issue to the University. The proceeds were used to refund the balance of a year 2000 Demand Revenue Bond and a year 2006 Industrial Revenue Bond. In October 2014, the University amended the outstanding balance of the year 2009 bonds. Funding was provided through a $13,074,527 Village of River Forest, Cook County Illinois Industrial Revenue Project Revenue Bond Series 2009A and Series 2009B. The amended series were purchased by Fifth Third Bank (formerly MB Financial Bank) on October 10, 2014, and are set to mature on August 5, 2024. Upon completion of the purchase of the bond to Fifth Third Bank, the debt was unsecured, and was no longer publicly traded. Schedule K, Part I, Column b-10/28/2014 3,074,527 Village of River Forest Cook County IL During 2009, the Village of River Forest, Illinois, in the county of Cook, issued $16,200,000 of 20 year adjustable-rate industrial Project Revenue Bonds. Pursuant to a loan agreement dated December 1, 2009, the Village of River Forest loaned the proceeds of the bond issue to the University. The proceeds were used to refund the balance of a year 2000 Demand Revenue Bond and a year 2006 Industrial Revenue Bond. In October 2014, the University amended the outstanding balance of the year 2009 bonds. Funding was provided through a $13,074,527 Village of River Forest, Cook County Illinois Industrial Project Revenue Bond Series 2009A and Series 2009B. The amended series were purchased by Fifth Third Bank (formerly MB Financial Bank) on October 10, 2014, and are set to mature on August 5, 2024. Upon completion of the purchase of the bond to Fifth Third Bank, the debt was unsecured, and was no longer publicly traded. Schedule K, Part I, Column b-10/10/2014 10,000,000 Village of River Forest Cook County IL During 2009, the Village of River Forest, Illinois, in the county of Cook, issued $16,200,000 of 20 year adjustable-rate industrial Project Revenue Bonds. Pursuant to a loan agreement dated December 1, 2009, the Village of River Forest loaned the proceeds of the bond issue to the University. The proceeds were used to refund the balance of a year 2000 Demand Revenue Bond and a year 2006 Industrial Revenue Bond. In October 2014, the University amended the outstanding balance of the year 2009 bonds. Funding was provided through a $13,074,527 Village of River Forest, Cook County Illinois Industrial Project Revenue Bond Series 2009A and Series 2009B. The amended series were purchased by Fifth Third Bank (formerly MB Financial Bank) on October 10, 2014, and are set to mature on August 5, 2024. Upon completion of the purchase of the bond to Fifth Third Bank, the debt was unsecured, and was no longer publicly traded. Schedule K, Part I, Column c-10/10/2014 10,000,000 Village of River Forest Cook County IL In March 2006, the University issued $30,000,000 of 30 year adjustable-rate demand revenue bonds through the Illinois Finance Authority. The proceeds were used to acquire, construct, and equip certain projects of the University's facilities. In August 2014, the University refinanced the outstanding balance of the above-mentioned bond. Funding was provided through a $19,800,000 Illinois Finance Authority Revenue Refunding Bond, Series 2014. The Refunding Bond was purchased by Fifth Third Bank (formerly MB Financial Bank) on August 5, 2014, and has a 10-year maturity date of year 2024. Upon completion of the purchase, the debt was unsecured, and was no longer publicly traded. The interest rate of the Series 2014 bonds are set weekly on 70% LIBOR plus designated basis points determined at the beginning of each interest period. Schedule K, Part I, Column c-08/20/2014 19,800,000 Illinois Finance Authority In March 2006, the University issued $30,000,000 of 30 year adjustable-rate demand revenue bonds through the Illinois Finance Authority. The proceeds were used to acquire, construct, and equip certain projects of the University's facilities. In August 2014, the University refinanced the outstanding balance of the above-mentioned bond. Funding was provided through a $19,800,000 Illinois Finance Authority Revenue Refunding Bond, Series 2014. The Refunding Bond was purchased by Fifth Third Bank (formerly MB Financial Bank) on August 5, 2014, and has a 10-year maturity date of year 2024. Upon completion of the purchase, the debt was unsecured, and was no longer publicly traded. The interest rate of the Series 2014 bonds are set weekly on 70% LIBOR plus designated basis points determined at the beginning of each interest period. Schedule K, Part IV, Line 2c-10/28/2014 3,074,527 Village of River Forest Cook County IL No rebate amount is due. Schedule K, Part IV, Line 2c-10/10/2014 10,000,000 Village of River Forest Cook County IL No rebate amount is due. Schedule K, Part IV, Line 2c-08/20/2014 19,800,000 Illinois Finance Authority No rebate amount is due. X 28 240193 FMV X Baseball and golf outings 4 9750 FMW X Concerts and retreats 4 3595 FMV X Jewelry 1 1850 FMV 0 0 1 0 Schedule M, Part I, Line 33 The University receives stock gifts from donors which are liquidated and included in the Statement of Activities upon sale. The University also receives gifts in kind which are not recorded on the general ledger, but are tracked for reporting purposes. Form 990, Part V, Line 4a During the calendar year 2020 (and fiscal year 2021), the University had a bank account in the United Kingdom for its London program. The University stopped offering the program after the fiscal year 2019 year, and therefore, closed the bank account in London in December 2020. No further programs are to be held in London at this time. Form 990, Part VI, Section A, Line 1a There are no material differences between voting and non-voting Trustee members who are independent. The non-independent members include the President, Faculty Trustee, and the Executive in Residence Trustee. Form 990, Part VI, Section A, Line 2 One Trustee of the Board of Trustees has a family relationship with an officer of the university. The officer can authorize transactions within the home department's account, but does not have access to create or adjust financial records. Form 990, Part VI, Section A, Line 6 The Members consist of three to nine persons. Each member shall serve a term of that number of years determined by the Members as the length of term for Members. When vacancies among the members occur by reason of death, resignation, failure of qualification or otherwise, the number shall be reduced by such vacancies until qualified replacements are selected by the remaining members for unexpired terms. The responsibilities of the members include the following: approve the mission of the University; amend, restate or modify the Articles of Incorporation and the Bylaws of the University; approve the acquisition, purchase, sale, mortgage, lease, transfer of real property owned by the University; ratify the appointment; remove or replace one or more Trustees; and to approve any plan of dissolution, merger, consolidation or liquidation of the University. Each member shall be entitled to one vote on each matter submitted to a vote of the Members. Form 990, Part VI, Section A, Line 7a THE MEMBERS MAY APPOINT, IN THEIR SOLE DISCRETION, DIFFERENT MEMBERS: (A) WHEN THE MEMBERS, IN THEIR SOLE DISCRETION, DECIDE TO INCREASE THE NUMBER OF MEMBERS (WITHIN LIMITATIONS SET FORTH IN ARTICLE II, SECTION 1). (B) WHEN VACANCIES OCCUR BY REASON OF DEATH, RESIGNATION, FAILURE OF QUALIFICATION, OR OTHERWISE. AT ALL TIMES THE MEMBERS SHALL BE COMPRISED OF A MAJORITY OF PERSONS WHO ARE ELECTED OFFICIALS OF THE SINSINAWA DOMINICAN CONGREGATION. AT ALL TIMES UP TO THREE TRUSTEES MAY BE ELECTED BY THE MEMBERS OF THE CORPORATION AND SUCH TRUSTEES SHALL BE MEMBERS OF THE CORPORATION OR A SINSINAWA DOMINICAN OR OTHER INDIVIDUAL RECOMMENDED BY THE MEMBERS FOR SUCH TERMS AS MAY BE DESIGNATED BY THE MEMBERS OF THE CORPORATION (THE MEMBER DESIGNATED TRUSTEES). Form 990, Part VI, Section A, Line 7b The governance decisions are reserved to the Board of Trustees and Management of the University. The responsibilities of the Members include the following: approve the mission of the University; amend, restate or modify the Articles of Incorporation and the Bylaws of the University; approve the acquisition, purchase, sale, mortgage, lease, transfer of real property owned by the University; ratify the appointment; remove or replace one or more Trustees; and to approve any plan of dissolution, merger, consolidation or liquidation of the University. Form 990, Part VI, Section B, Line 11b The tax returns are prepared by the Management of the University and reviewed by an independent and external audit firms. These returns are provided, in advance by private email, to the Finance Committee of the Board of Trustees for review, discussion, and acceptance. The Finance Committee reviews and accepts the tax returns to be filed. By private email, a copy of the tax return is made available to all Trustees prior to being filed. Once all reviews are done, and after the Vice President for Finance/Administration's final review, the tax returns are electronically filed with the IRS. Form 990, Part VI, Section B, Line 12c The University has a written Conflict of Interest Policy that has been approved by the Board of Trustees. It covers each Board of Trustee Member, Officers, and Key employees (covered members) of the University. The Policy requires, annually, that each covered member reviews the policy and discloses any possible personal, family, or business relationship that could give rise to a conflict involving the University. The scope of the conflict includes any material facts of a proposed transaction, and the covered person's interest or relationship in respect to the transaction. Management of the University follows up to ensure timely responses are received, and reviews the responses to determine whether a conflict exist. If a conflict exist, the covered member (including a Trustee of the Board) must excuse themselves from being included when the Committee takes action on a proposed transaction, but can be included in a quorum count. An Officer or Key employee of the University must treat transactions at arms-length and remove themselves from any judgments or decisions in transactions. Form 990, Part VI, Section B, Line 15 Compensation for the President of the University is determined by the Board of Trustees. Annually, they determine the base compensation based on the comparability data provided by the Director of Human Resources. Any bonuses and other indirect compensation is based on meeting stated goals, which are approved by the Executive Committee of the Board of Trustees and included as part of the President's contract. For all other top management positions such as officers, key employees, and academic deans, the President determines the initial compensation based on the data that the Director of Human Resources gathered in relation to market data for similar positions. Annually the Vice President for Finance and Administration and the Director of Human Resources reviews all compensation including the senior or top management for equity and external benchmarks. Any compensation recommendations are approved by the President and the Vice President for Finance and Administration. The compensation review process for the President, Officers, and Key employees is completed on an annual basis. Form 990, Part VI, Section C, Line 19 Dominican does not make its governing documents, conflict of interest policy, and financial statements available to the public but they are available upon requests. Form 990, Part VIII, Line 1e Total Government grants of $11,598,614 include the following: $7,031,468 in HEERF I and II grant revenues ($4,609,381 of this amount had an expense offset, while $2,422,087 was recorded as revenues only); include $3,964,683 in other Federal Grant revenues; and include $602,463 in Federal Title IV student revenues. Form 990, Part XI, Line 2 Federal HEERF I & II Grants received in fiscal year 2021 were $7,031,468. Of this amount, $4,609,381 was an offset to expenses, and the remaining $2,422,087 was a direct relief of lost revenues, hence, no expense effect. Form 990, Part XI, Line 9 Return on Investments in excess of the Spending Rate = $8,028,608; Change in fair value of beneficial interest in perpetual trust & split-interest agreements = $627,632; Change in fair value of interest rate swap agreements = $2,731,970. Form 990, Part XII, Line 3b Federal Higher Education Emergency Relief Fund (HEERF) Grants I and II expensed were $4,609,381 ($2,703,588 student grants and $1,905,793 of institutional grants); these were offset to HEERF Grant I and II revenues. SINSINAWA DOMINICAN CONGREGATION 585 Country Road Sinsinawa WI 53824 390816854 Ministry WI 501 (C) (3) Line 1 N/A 0 Constance Barbantini Estate 13001 S Briar Ln Palos Heights IL 60463 846408903 Trust Beneficiary IL N/A 143081 IRREVOCABLE CHARITABLE TRUST BMO Private Bank 111 W Monroe St Chicago IL 60603 Interest in an Irrevocable Trust IL BMO Harris Bank-Trustee T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 IRREVOCABLE CHARITABLE TRUST s 87500 The University is the recipient of an irrevocable perpetual trust from a donor's estate, and has an interest in the trust's income only. The University will never receive the assets in the trust. The University timely applied and received an extension to file Year 2020 Form 990. The extension was granted. The revised filing due date for Year 2020 Form 990 is May 15, 2022.