2022-05-03T12:26:13-05:00 2021-06-30 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2020-07-01 381366958 SIENA HEIGHTS UNIVERSITY SIEN 5172647108 1247 EAST SIENA HEIGHTS DRIVE ADRIAN MI 49221 LEE JOHNSON PHD CPA TREASURER 5172647108 2022-04-28 1 LEE JOHNSON PHD CPA 999009999 DORI J EGGETT P00645252 2695674500 2022-04-28 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z SR PEG ALBERT OP PHD 1247 EAST SIENA HEIGHTS DRIVE ADRIAN MI 49221 61967867 0 X WWW.SIENAHEIGHTS.EDU X 1919 MI TO PROVIDE STUDENTS WITH A LIBERAL ARTS EDUCATION WITH THE PURPOSE OF ASSISTING PEOPLE IN BECOMING MORE COMPETENT, PURPOSEFUL AND ETHICAL THROUGH A TEACHING AND LEARNING ENVIRONMENT WHICH RESPECTS THE DIGNITY OF ALL. 29 27 876 27 -1106 0 9270112 16627863 49345285 45017813 123807 58629 159536 188566 58898740 61892871 22103295 21273687 0 0 22124833 21246821 0 0 554617 15309241 15491489 59537369 58011997 -638629 3880874 100727760 99863448 38778037 29302377 61949723 70561071 THE MISSION OF SIENA HEIGHTS UNIVERSITY, A CATHOLIC UNIVERSITY FOUNDED AND SPONSORED BY THE ADRIAN DOMINICAN SISTERS, IS TO ASSIST PEOPLE TO BECOME MORE COMPETENT, PURPOSEFUL, AND ETHICAL THROUGH A TEACHING AND LEARNING ENVIRONMENT WHICH RESPECTS THE DIGNITY OF ALL. 0 0 46618227 21273687 45007739 SIENA HEIGHTS UNIVERSITY IS A MICHIGAN PRIVATE NON-PROFIT CORPORATION FOR POSTSECONDARY EDUCATION. THE UNIVERSITY PROVIDES EDUCATION WITH A MAIN CAMPUS, SATELLITE CAMPUSES, AND ONLINE FOR BOTH TRADITIONAL AND NONTRADITIONAL STUDENTS OFFERING BACHELOR AND MASTER DEGREE PROGRAMS. THE MAIN CAMPUS ALSO OFFERS AUXILIARY SERVICES IN THE FORM OF HOUSING, MEAL PLANS, AND BOOKSTORE SERVICES. THE UNIVERSITY IS PRIMARILY SUPPORTED THROUGH TUITION, FEDERAL AND STATE GRANTS, AND CONTRIBUTIONS FOR OPERATIONS AND SCHOLARSHIPS. 46618227 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 0 1 0 1 0 1 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 1 0 0 0 1 106 0 1 876 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 29 27 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MI X J LEE JOHNSON PHD CPA 5172647108 1247 EAST SIENA HEIGHTS DRIVE ADRIAN MI 49221 SR PEG ALBERT OP PHD PRESIDENT 40.00 X X 260521 0 45146 J LEE JOHNSON PHD CPA TREASURER/VP OF FINANCE 40.00 X 165279 0 37664 GEORGE WOLF VP FOR ENROLLMENT 40.00 X 125441 0 45759 DANIEL PENA VP FOR ADVANCEMENT 40.00 X 132436 0 28376 SHARON WEBER OP VP FOR ACADEMIC AFFAIRS 40.00 X 138796 0 16550 STEPHEN BALL PROFESSOR 40.00 X 104514 0 29808 PATRICIA MCDONALD OP PROFESSOR 40.00 X 116209 0 13948 MICHAEL R WINSTROM PROFESSOR 40.00 X 111209 0 16708 JAMES LOUGHRAN DIRECTOR OF NURSING 40.00 X 105392 0 3554 LEE BENISH TRUSTEE 1.00 X 2229 0 0 HONORABLE MARGARET MS NOE CHAIRPERSON 1.00 X X 2082 0 0 FRANK JOHNSON VICE CHAIRPERSON 1.00 X X 0 0 0 SCOTT HILL SECRETARY 1.00 X X 0 0 0 DOUG GRAY TRUSTEE 1.00 X 0 0 0 BETTY CUMMINGS TRUSTEE 1.00 X 0 0 0 MICHAEL DAWSON MD TRUSTEE 1.00 X 0 0 0 SR MARIANNE FAHLMAN TRUSTEE 1.00 X 0 0 0 STEVE FUTRELL TRUSTEE 1.00 X 0 0 0 RICHARD HALLER TRUSTEE 1.00 X 0 0 0 JANICE HANBA TRUSTEE 1.00 X 0 0 0 MARGARET HARTMAN TRUSTEE 1.00 X 0 0 0 STEVE LINVILLE TRUSTEE 1.00 X 0 0 0 SR FRANCES NADOLNY OP PHD TRUSTEE 1.00 X 0 0 0 LISA OBERLIN TRUSTEE 1.00 X 0 0 0 FRANCINE PARKER TRUSTEE 1.00 X 0 0 0 IQBAL ROSHD TRUSTEE 1.00 X 0 0 0 SR ANNELIESE SINNOTT TRUSTEE 1.00 X 0 0 0 SR MARY SOHER OP TRUSTEE 1.00 X 0 0 0 DUSTY STEELE TRUSTEE 1.00 X 0 0 0 SR JOAN MARIE WEITHMAN OP TRUSTEE 1.00 X 0 0 0 MICHAEL SMITH TRUSTEE 1.00 X 0 0 0 TROY VAN HAUEN TRUSTEE 1.00 X 0 0 0 HAROLD LOVE TRUSTEE 1.00 X 0 0 0 BEN NEGRON TRUSTEE 1.00 X 0 0 0 TIM FORTESCUE TRUSTEE 1.00 X 0 0 0 RUTH LAFONTAINE TRUSTEE 1.00 X 0 0 0 KIMARIE YOWELL TRUSTEE 1.00 X 0 0 0 1264108 0 237513 10 0 1 0 CHARTWELLS DINING SERVICES PO BOX 9133 CHICAGO IL 60693 FOOD SERVICE PROVIDER 1580956 KRIEGHOFF LENAWEE CONSTRUCTION PO BOX 100 ADRIAN MI 49221 CONSTRUCTION MGMT 704878 PLANTE & MORAN PLLC 3434 GRANITE CIRCLE TOLEDO OH 43607 ASSURANCE & TAX SERVICES 352922 LIAISON HOLDINGS LLC 311 ARSENAL ST WATERTOWN MA 02472 MARKETING - ADMISSIONS 293601 MLIVE MEDIA GROUP PO BOX 77000 DETROIT MI 48277 MARKETING 200324 8 136542 30000 11149839 5311482 74917 16627863 TUITION AND FEES 611710 38718992 38718992 AUXILIARY 611710 6288747 6288747 CONFERENCES & CAMPS 721210 10074 10074 45017813 1788 1405 383 41249 53834 -12585 -12585 -12585 24199 32642 0 0 24199 32642 56841 56841 14646 136542 13447 1199 1199 26705 7715 18990 18990 MISCELLANEOUS 900099 180962 180962 180962 61892871 45007739 -1106 258375 20382779 20382779 890908 890908 810936 97902 421687 291347 15469252 12198240 3118536 152476 406111 316972 89139 3468025 2735924 732101 1092497 835581 256916 81334 81334 123512 123512 53491 53491 4430844 2796628 1620966 13250 589481 482622 92699 14160 535179 225572 294693 14914 157673 125300 32373 3191 3191 1348661 216436 1129712 2513 172783 152635 15734 4414 802380 698070 96286 8024 3273422 2847877 392811 32734 406101 133285 272816 ACTIVITIES 565504 539271 21541 4692 DUES AND SUBSCRIPTIONS 288042 134788 137456 15798 REPAIRS AND MAINTENANCE 262258 86980 175278 BAD DEBT 244236 244236 2153397 717266 1435836 295 58011997 46618227 10839153 554617 6294694 1684296 3767680 3833783 1965684 1958880 659076 904296 111696336 39926228 72535920 71770108 15312547 19488255 192159 223830 100727760 99863448 3893991 5079582 1453836 1336984 26313905 20166824 6013960 2145371 1102345 573616 38778037 29302377 X 43669288 48617698 18280435 21943373 61949723 70561071 100727760 99863448 X 3880874 4112617 617857 X X 0 1 X 1 1 1 X 14079704 10304594 10633827 9270112 16627863 60916100 14079704 10304594 10633827 9270112 16627863 60916100 11348586 49567514 165309 231924 397880 88005 383 883501 7697 1405 9102 105970 342667 292230 214791 222312 1177970 62986673 236759596 0.78700 0.75710 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING EVENTS - 2016 AMOUNT: $ 11,175. 2017 AMOUNT: $ 56,515. 2018 AMOUNT: $ 47,367. 2019 AMOUNT: $ 8,069. 2020 AMOUNT: $ 14,646. MISCELLANEOUS - 2016 AMOUNT: $ 46,522. 2017 AMOUNT: $ 236,951. 2018 AMOUNT: $ 201,608. 2019 AMOUNT: $ 177,138. 2020 AMOUNT: $ 180,961. GAMING - 2016 AMOUNT: $ 48,273. 2017 AMOUNT: $ 49,201. 2018 AMOUNT: $ 43,255. 2019 AMOUNT: $ 29,584. 2020 AMOUNT: $ 26,705. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1829858 X X X 13355233 82048 4083653 469330 -1862314 18913918 12849400 153143 326074 453781 -480397 13355233 11840756 342224 1164521 427367 70734 12849400 11350166 92686 1108295 400651 309740 11840756 10341603 181600 1483908 368499 288446 11350166 0.18090 0.39830 0.42080 0 0 2978795 2978795 78955740 20269223 58686517 27931941 19657005 8274936 1829860 1829860 71770108 ANNUITIES PAYABLE 9174 CONDITIONAL ASSET RETIREMENT OBLIGATION 132502 FAIR VALUE OF INTEREST RATE SWAP 431940 573616 45404485 4112617 726175 4838792 40565693 53491 21273687 21327178 61892871 36759814 74995 74995 36684819 53491 21273687 21327178 58011997 PART III, LINE 4: SIENA HEIGHTS UNIVERSITY RECEIVED $1.829,858 OF INDEPENDENTLY APPRAISED SCULPTURES THAT ARE PERMANENT FIXTURES ON DISPLAY ON CAMPUS. THE UNIVERSITY'S ART COLLECTION SERVES AS POINT OF DISCOVERY FOR STUDENTS AND VISITORS TO THE UNIVERSITY AND AS EDUCATIONAL MATERIAL FOR RELEVANT UNIVERSITY COURSES. PART V, LINE 4: THIS ENDOWMENT IS USED BY THE ORGANIZATION TO PROVIDE SCHOLARSHIPS TO QUALIFIED INDIVIDUALS AND PROGRAM ACTIVITIES SUCH AS ENDOWED LECTURE SERIES, FACULTY DEVELOPMENT, AND OTHER PROGRAM ACTIVITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED LOSS ON INTEREST RATE SWAP 519,264. CHANGE IN FAIR VALUE OF PLEDGES RECEIVABLE 131,916. FUNDRAISING EXPENSE NETTED AGAINST REVENUE 13,446. RENTAL EXPENSE NETTED AGAINST REVENUE 53,834. GAMING EXPENSE NETTED AGAINST REVENUE 7,715. PART XI, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL STUDENT AID 21,273,687. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE NETTED AGAINST REVENUE 13,446. RENTAL EXPENSE NETTED AGAINST REVENUE 53,834. GAMING EXPENSE NETTED AGAINST REVENUE 7,715. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL STUDENT AID 21,273,687. 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 POLICY IS PUBLICIZED ON ADMISSIONS BROCHURES AND COURSE CATALOGS, AS WELL AS ON THE UNIVERSITY'S WEBSITE WHICH IS AVAILABLE TO THE PUBLIC. SCHEDULE E, PART I, LINE 6 SIENA HEIGHTS UNIVERSITY RECEIVES FEDERAL FUNDS FOR FINANCIAL AID FOR ITS STUDENTS, DEPARTMENT OF EDUCATIONS, FUNDS FOR TWO TRIO PROGRAMS, DEPT. OF JUSTICE FUNDS FOR VIOLENCE AGAINST WOMEN GRANT, NATIONAL ENDOWMENT FOR THE HUMANITIES GRANT, AND NATIONAL SCIENCE FOUNDATION FUNDS FOR S-STEM AND NOYCE. LINE 6 ON MARCH 11, 2020, THE WORLD HEALTH ORGANIZATION DECLARED THE OUTBREAK OF A RESPIRATORY DISEASE CAUSED BY A NEW CORONAVIRUS, A PANDEMIC, NOW KNOWN AS COVID-19. IN RESPONSE TO THE COVID-19 PANDEMIC, GOVERNMENTS HAVE TAKEN PREVENTATIVE OR PROTECTIVE ACTIONS, SUCH AS TEMPORARY CLOSURES OF NON-ESSENTIAL BUSINESSES AND "SHELTER-AT-HOME" GUIDELINES FOR INDIVIDUALS. AS A RESULT, THE GLOBAL ECONOMY HAS BEEN NEGATIVELY AFFECTED, AND THE UNIVERSITY'S OPERATIONS WERE ALSO IMPACTED. DUE TO THE "SHELTER-AT-HOME" GUIDELINES DURING APRIL AND MAY 2020, THE UNIVERSITY SHIFTED TO A REMOTE ONLINE LEARNING ENVIRONMENT AND SENT STUDENT'S HOME. SIENA HEIGHTS UNIVERSITY ISSUED ROOM AND BOARD REFUNDS TO STUDENTS. THE COLLEGE ALSO HAD MANY EVENTS CANCELLED OR TEMPORARILY POSTPONED UNTIL THE "SHELTER-AT-HOME" GUIDELINES WERE REDUCED OR REMOVED, WHICH RESULTED IN LOST REVENUES FOR THE UNIVERSITY FOR THE YEAR ENDED JUNE 30, 2020. TO OFFSET THE FINANCIAL IMPACT TO STUDENTS AND THE LOSSES INCURRED BY THE UNIVERSITY DUE TO THE DISRUPTION CAUSED BY COVID-19, THE UNIVERSITY RECEIVED GRANTS AND OTHER RELIEF PRIMARILY FROM THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY (CARES) ACT. THE UNIVERSITY WAS ALLOCATED HIGHER EDUCATION EMERGENCY RELIEF FUND (HEERF) GRANTS TOTALING $1,545,878, OF WHICH 50 PERCENT WAS REQUIRED TO BE GIVEN DIRECTLY TO STUDENTS. FOR THE YEAR ENDED JUNE 30, 2020, THE UNIVERSITY RECOGNIZED HEERF GRANT REVENUE TOTALING $1,325,514 IN FEDERAL GRANTS REVENUE ON THE STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS. DURING THE YEAR ENDED JUNE 30, 2021 THE UNIVERSITY WAS ALLOCATED HIGHER EDUCATION EMERGENCY RELIEF FUND (HEERF) II GRANTS TOTALING $3,112,434, OF WHICH $849,396 WAS REQUIRED TO BE GIVEN DIRECTLY TO STUDENTS. THE UNIVERSITY WAS ALSO ALLOCATED HIGHER EDUCATION EMERGENCY RELIEF FUND (HEERF) III GRANTS TOTALING $5,096,877, OF WHICH $2,634,319 WAS TO BE ALLOCATED TO STUDENTS. FOR THE YEAR ENDED JUNE 30, 2021, THE UNIVERSITY RECOGNIZED $3,218,164 OF REVENUE RELATED TO HEERF FUNDING IN FEDERAL GRANTS REVENUE ON THE STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS. IN ADDITION, THE UNIVERSITY ALSO RECEIVED OTHER EMERGENCY RELIEF IN THE FORM OF A PAYCHECK PROTECTION PROGRAM (PPP) LOAN FOR $3,771,342. THE SEVERITY OF THE CONTINUED IMPACT DUE TO COVID-19 ON THE UNIVERSITY'S FINANCIAL CONDITION, RESULTS OF OPERATIONS OR CASH FLOWS WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING, BUT NOT LIMITED TO, THE DURATION AND SEVERITY OF THE PANDEMIC AND THE EXTENT AND SEVERITY OF THE IMPACT ON THE UNIVERSITY'S COMMUNITY, ALL OF WHICH ARE UNCERTAIN AND CANNOT BE PREDICTED. 0 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 SCHOLARSHIPS N/A 70000 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 SCHOLARSHIPS N/A 21000 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 SCHOLARSHIPS N/A 152558 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 SCHOLARSHIPS N/A 502792 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 SCHOLARSHIPS N/A 144558 0 0 0 0 0 0 890908 0 890908 SCHOLARSHIP - TUITION/BOOKS CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 4 70000 APPLIED AGAINST STUDENTS TUITION ACCOUNT SCHOLARSHIP - TUITION/BOOKS EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIU 7 144558 APPLIED AGAINST STUDENTS TUITION ACCOUNT SCHOLARSHIP - TUITION/BOOKS NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 7 152558 APPLIED AGAINST STUDENTS TUITION ACCOUNT SCHOLARSHIP - TUITION/BOOKS SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 29 502792 APPLIED AGAINST STUDENTS TUITION ACCOUNT SCHOLARSHIP - TUITION/BOOKS SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 1 21000 APPLIED AGAINST STUDENTS TUITION ACCOUNT 0 0 0 0 0 0 PART I, LINE 2: IN THE AGREEMENTS, THE USE OF FUND AND REPORTING REQUIREMENTS ARE SPECIFIED AND MONITORED. PART III ACCOUNTING METHOD: GOLF OUTING 151188 136542 14646 6847 3808 1834 958 151188 136542 14646 6847 3808 1834 958 13447 1199 26705 7300 415 0 1.00000 26705 7300 415 7715 18990 MI 1 0 1 0 0.80000 0.20000 MARY KRUSE 1247 EAST SIENA HEIGHTS DRIVE ADRIAN MI 49221 0 MARY KRUSE MAKE SURE LICENSE IS OBTAINED, ENSURES RAFFLE FOLLOWS STATE GUIDELINES, ENSURES RECORDING OF RAFFLE IS PROPERLY COMPLETED X 0 1 SCHOLARSHIP - TUITION/BOOKS 1626 20382779 PART I, LINE 2: SIENA HEIGHTS UNIVERSITY PROVIDES FUNDING FOR STUDENT SCHOLARSHIPS AND TUITION DISCOUNTS BASED ON MERIT, FINANCIAL NEED, SPECIAL CRITERIA BASED ON RESTRICTED FUND ENDOWMENTS AND DONOR CRITERIA, AND INFORMATION PROVIDED BY THE STUDENT ON THE SCHOLARSHIP APPLICATION. X X X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 SR PEG ALBERT OP PHD PRESIDENT 260521 0 0 0 0 0 45146 0 0 0 305667 0 0 0 J LEE JOHNSON PHD CPA TREASURER/VP OF FINANCE 165279 0 0 0 0 0 37664 0 0 0 202943 0 0 0 GEORGE WOLF VP FOR ENROLLMENT 125441 0 0 0 0 0 45759 0 0 0 171200 0 0 0 DANIEL PENA VP FOR ADVANCEMENT 132436 0 0 0 0 0 28376 0 0 0 160812 0 0 0 SHARON WEBER OP VP FOR ACADEMIC AFFAIRS 138796 0 0 0 0 0 16550 0 0 0 155346 0 0 0 PART I, LINE 1A - THE PRESIDENT OF THE UNIVERSITY LIVES IN A HOUSE THAT IS OWNED BY THE UNIVERSITY AND HAS A DISCRETIONARY SPENDING ACCOUNT. ALL EXPENSES, INCLUDING UTILITIES AND HOUSEKEEPING, ARE PAID BY THE UNIVERSITY. THE PRESIDENT IS TAX-EXEMPT DUE TO HER RELIGIOUS STATUS. - LEE JOHNSON RECEIVED TAX INDEMNIFICATION AND GROSS-UP PAYMENTS THAT WERE TREATED AS TAXABLE COMPENSATION. - THE UNIVERSITY PAID FOR A MEMBERSHIP TO ADRIAN COUNTRY CLUB FOR SR PEG ALBERT AND DANIEL PENA. THE MEMBERSHIPS WERE USED FOR BUSINESS ONLY, THEREFORE THEY WERE NOT TREATED AS TAXABLE COMPENSATION. A ECONOMIC DEVELOPMENT CORP OF THE COUNTY OF LENAWEE SERIES 2009 521302758 526010ADF 2009-04-28 8700000 TO FINANCE REFUNDING FOR SERIES 2006 BONDS 0 0 0 B ECONOMIC DEVELOPMENT CORP OF THE COUNTY OF LENAWEE SERIES 2010 521302758 NONEAVAIL 2010-12-21 15434000 CONSTRUCTION 0 0 0 C ECONOMIC DEVELOPMENT CORP OF THE COUNTY OF LEWANEE SERIES 2013 521302758 NONEAVAIL 2013-12-01 7500000 CONSTRUCTION 0 0 0 D ECONOMIC DEVELOPMENT CORP OF THE COUNTY OF LENAWEE SERIES 2016 521302758 NONEAVAIL 2016-12-23 8000000 CONSTRUCTION 0 0 0 A 8700000 273375 8426625 2009 1 0 1 1 B 12564776 289650 12275127 2013 0 0 1 1 C 7465665 188125 7277540 2018 0 0 1 1 D 7756031 185585 7941616 2020 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 B 0 1 1 1 0 0.01000 0.00000 0.01000 0 0 0 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 D 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 1 1 1 FIRST AMERICAN BANK 10.000000000000 0 0 0 0 1 B 0 0 1 0 1 1 FIRST AMERICAN BANK 10.000000000000 0 0 0 0 1 C 0 0 1 0 1 0 0 0 1 D 0 0 1 0 1 0 0 0 1 A 1 B 1 C 1 D 1 A ECONOMIC DEVELOPMENT CORP OF THE COUNTY OF LENAWEE SERIES 2019 521302758 NONEAVAIL 2019-12-17 8700000 PROJECTS AND IMPROVEMENTS 0 0 0 A 6487872 200225 6688097 2020 0 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 1 0 1 1 FIRST AMERICAN BANK 10.000000000000 0 0 0 0 1 A 1 SCOTT HILL TRUSTEE 555903 SCOTT HILL IS A STOCKHOLDER OF KRIEGHOFF LENAWEE COMPANIES. KRIEGHOFF LENAWEE PROVIDED CONSTRUCTION SERVICES FOR THE ORGANIZATION. 0 X 1 66000 FAIR MARKET VALUE X SUPPLIES 0 8917 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 SCOTT HILL HAS A BUSINESS RELATIONSHIP WITH THE FOLLOWING INDIVIDUALS: SR. FRANCES NADOLNY. STEVEN FUTRELL HAS A BUSINESS RELATIONSHIP WITH JANICE HANBA. FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF THE CORPORATION IS ADRIAN DOMINICAN SISTERS. FORM 990, PART VI, SECTION A, LINE 7A THE ADRIAN DOMINICAN SISTERS HAVE THE EXCLUSIVE RIGHT TO ELECT TRUSTEES TO THE BOARD OF TRUSTEES AND REMOVE ANY TRUSTEE AT ANY TIME IF THEY BELIEVE IT IS IN THE BEST INTEREST OF THE CORPORATION TO DO SO. FORM 990, PART VI, SECTION A, LINE 7B THE ADRIAN DOMINICAN SISTERS HAVE THE EXCLUSIVE RIGHT TO EXERCISE THE RESERVED POWERS BESTOWED UPON THEM PURSUANT TO THE SIENA HEIGHTS UNIVERSITY BYLAWS. THESE RESERVED POWERS INCLUDE THE FOLLOWING: (A)APPROVE THE MISSION, PURPOSES AND PHILOSOPHY OF THE CORPORATION; (B)ELECT TRUSTEES TO THE BOARD OF TRUSTEES IN ACCORDANCE WITH THE PROCEDURES SET FORTH IN ARTICLE V, SECTION 3; (C)REMOVE ANY TRUSTEE AT ANY TIME IF THEY BELIEVE IT IS IN THE BEST INTEREST OF THE CORPORATION TO DO SO; (D)REVIEW AND COMMENT ON ALL ANNUAL OPERATING AND CAPITAL BUDGETS DEVELOPED BY THE BOARD OF TRUSTEES PRIOR TO THEIR ADOPTION BY THE BOARD, AND ALL NON-BUDGETED OPERATING EXPENSES AND CAPITAL EXPENDITURES IN EXCESS OF AN AMOUNT DETERMINED FROM TIME TO TIME BY THE MEMBERS; (E)AUTHORIZE AND/OR APPROVE ANY INCURRENCE, ASSUMPTION, OR GUARANTEE OF DEBT IN EXCESS OF AN AMOUNT DETERMINED FROM TIME TO TIME BY THE MEMBERS; (F)AUTHORIZE AND/OR APPROVE THE ENCUMBRANCE, SALE, LEASE OR OTHER DISPOSITION OF ANY REAL ESTATE OR THE SALE OF ALL OR SUBSTANTIALLY ALL OF THE CORPORATION'S ASSETS; (G)AUTHORIZE AND/OR APPROVE CONTRACTS THAT CALL FOR EXPENDITURES OF SUMS IN EXCESS OF AN AMOUNT DETERMINED FROM TIME TO TIME BY THE MEMBERS; (H)AUTHORIZE AND/OR APPROVE THE MERGER OR CONSOLIDATION OF THE CORPORATION WITH OR INTO ANOTHER ENTITY; (I)APPOINT AND REAPPOINT THE PRESIDENT, AND REMOVE THE PRESIDENT IF THEY BELIEVE IT IS IN THE BEST INTEREST OF THE CORPORATION TO DO SO; (J)REMOVE OTHER OFFICERS OF THE CORPORATION IF THEY BELIEVE IT IS IN THE BEST INTEREST OF THE CORPORATION TO DO SO; (K)AUTHORIZE AND/OR APPROVE THE CREATION OF SUBSIDIARIES OR AFFILIATES OF THE CORPORATION OR THE CORPORATION'S PARTICIPATION IN JOINT VENTURES; (L)AUTHORIZE AND/OR APPROVE ANY AMENDMENTS TO THE CORPORATION'S ARTICLES OF INCORPORATION AND/OR BYLAWS AFTER CONSULTING WITH THE BOARD OF TRUSTEES; AND (M)AUTHORIZE AND/OR APPROVE THE DISSOLUTION OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 WAS PRESENTED TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO BEING SUBMITTED TO THE IRS. QUESTIONS AND COMMENTS WERE SOLICITED FROM THE BOARD TO ENSURE THE COMPLETENESS AND ACCURACY OF THIS FORM. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES COMPLETE WRITTEN CONFLICTS ANNUALLY. DIFFERENT STANDING COMMITTEES OF THE BOARD OF TRUSTEES MONITOR AND REVIEW CONFLICTS OF INTEREST FOR KEY EMPLOYEES AND TRUSTEES ANNUALLY. IF A CONFLICT ARISES, THE TRUSTEE SHALL ABSTAIN FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION FOR THE PRESIDENT IS DETERMINED BY A SUB-COMMITTEE (COMPENSATION COMMITTEE) OF THE BOARD OF TRUSTEES. THIS COMMITTEE MEETS AFTER THE PERFORMANCE REVIEW IS COMPLETED FOR THE PRESIDENT. IF A RAISE IS WARRANTED, THE PRESIDENT CAN DECLINE BASED ON UNIVERSITY DETERMINATION OF INCREASES FOR THE ENTIRE STAFF. COMPENSATION FOR ALL EMPLOYEES IS COMPARED TO CUPA STANDARDS AND ANNUAL RAISES FOR THE COMMUNITY AT-LARGE IS DETERMINED BY THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES. FISCAL YEAR 2021 WAS THE MOST RECENT YEAR THIS PROCESS WAS UNDERTAKEN. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ORGANIZATIONAL DOCUMENTS AVAILABLE AT THE SIENA HEIGHTS UNIVERSITY LIBRARY AND THROUGH THE UNIVERSITY'S WEBSITE. FURTHER, ALL ORGANIZATIONAL DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: UNREALIZED GAIN ON VALUE OF INTEREST RATE SWAPS 519,264. CHANGE IN FAIR VALUE OF PLEDGED RECEIVABLES 131,916. CHANGE IN ACCT STANDARD - LEASES -33,323. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. ADRIAN DOMINICAN SISTERS 1257 E SIENA HEIGHTS DR ADRIAN MI 49221 CATHOLIC RELIGIOUS ORDER MI 501(C)(3) LINE 1 N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 ADRIAN DOMINICAN SISTERS P 160678 ACTUAL EXPENSES INCURRED