2022-04-15T10:59:16-05:00 2021-05-31 273858252 DEAN DORTON ALLEN FORD PLLC 250 W MAIN STREET STE 1400 LEXINGTON KY 40507 990 2020-06-01 610482955 BELLARMINE UNIVERSITY INCORPORATED BELL 5022728261 2001 NEWBURG ROAD LOUISVILLE KY 40205 DANIEL FROCKT VP FOR FINANCE 5022728261 2022-04-14 1 DANIEL FROCKT 999009999 ALLISON C CARTER P01242412 8592552341 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z BELLARMINE UNIVERSITY DANIEL FROCKT 2001 NEWBURG ROAD LOUISVILLE KY 40205 150203711 0 X WWW.BELLARMINE.EDU X 1950 KY BELLARMINE UNIVERSITY EDUCATES STUDENTS THROUGH UNDERGRADUATE AND GRADUATE PROGRAMS IN THE LIBERAL ARTS AND PROFESSIONAL STUDIES. THE UNIVERSITY IS AN INDEPENDENT CATHOLIC UNIVERSITY SERVING THE REGION, NATION, AND WORLD THROUGH POST-SECONDARY EDUCATION. 28 28 1656 745 14380 0 11959439 12011080 126890521 124908353 2886121 3513313 1372532 1528815 143108613 141961561 62151569 64040409 0 0 49274294 49313143 0 0 2029899 27227098 29983328 138652961 143336880 4455652 -1375319 224151602 234131453 87733201 85488651 136418401 148642802 X BELLARMINE UNIVERSITY EDUCATES STUDENTS THROUGH UNDERGRADUATE AND GRADUATE PROGRAMS IN THE LIBERAL ARTS AND PROFESSIONAL STUDIES. THE UNIVERSITY IS AN INDEPENDENT CATHOLIC UNIVERSITY SERVING THE REGION, NATION, AND WORLD THROUGH POST-SECONDARY EDUCATION. 0 0 95864508 63922487 114419943 INSTRUCTION: 2,483 STUDENTS IN UNDERGRADUATE CLASSES; 809 STUDENTS IN GRADUATE CLASSES; 898 STUDENTS GRADUATED IN 2020-2021 ACADEMIC SCHOOL YEAR. 4718905 117922 4460380 AUXILIARY HOUSING: AUXILIARY ENTERPRISES STUDENT HOUSING IS THE MAJOR AUXILIARY ENTERPRISE. LIVING QUARTERS WERE PROVIDED TO 852 STUDENTS IN THE RESIDENCE HALLS. 21842479 0 5932981 STUDENT SERVICES: THE FOLLOWING DEPARTMENTS ENCOMPASS THE MAJOR AREAS OF THE UNIVERSITY STUDENT SERVICES DIVISION: STUDENT AFFAIRS, ADMISSIONS AND ENROLLMENT SERVICES, OFFICE OF FINANCIAL AID, REGISTRAR'S OFFICE, HEALTH AND COUNSELING SERVICES, ATHLETICS, RECREATION, AND INTRAMURAL OFFICES. 2317032 0 1574794 OTHER PROGRAM SERVICES INCLUDE: ACADEMIC SUPPORT, LIBRARY AND COMPUTER TECHNOLOGY SERVICES, AND SUPPORT FOR THE ACADEMIC DIVISIONS EXPENSES OF $2,317,032 INCLUDING GRANTS OF $0 AND REVENUE OF $17,101,704. 2317032 0 1574794 124742924 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 1 0 0 0 1 240 0 1 1656 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 X 28 28 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK KY MA NH WA X DANIEL FROCKT 5022728263 2001 NEWBURG ROAD LOUISVILLE KY 40205 JAMES R ALLEN TRUSTEE 2.00 0.00 X 0 0 0 LARRY BENZ TRUSTEE 2.00 0.00 X 0 0 0 DONALD BERG TRUSTEE 2.00 0.00 X 0 0 0 J MCCAULEY BROWN TRUSTEE 2.00 0.00 X 0 0 0 DAVID CALZI TRUSTEE 2.00 0.00 X 0 0 0 RUSSELL COX TRUSTEE 2.00 0.00 X 0 0 0 SUSAN DIAMOND TRUSTEE 2.00 0.00 X 0 0 0 BARRY FIELDS TRUSTEE 2.00 0.00 X 0 0 0 JESSE FLYNN TRUSTEE 2.00 0.00 X 0 0 0 C EDWARD GLASSCOCK TRUSTEE 2.00 0.00 X 0 0 0 MICHAEL HOBBS TRUSTEE 2.00 0.00 X 0 0 0 GLENN HOGAN TRUSTEE 2.00 0.00 X 0 0 0 SHARON DES JARLAIS TRUSTEE 2.00 0.00 X 0 0 0 DONALD KELLY TRUSTEE 2.00 0.00 X 0 0 0 MARK LYNN TRUSTEE 2.00 0.00 X 0 0 0 MICHAEL MACKIN TRUSTEE 2.00 0.00 X 0 0 0 ERNEST MARSHALL TRUSTEE 2.00 0.00 X 0 0 0 LIBBYE MONTGOMERY TRUSTEE 2.00 0.00 X 0 0 0 WILLIAM MUDD TRUSTEE 2.00 0.00 X 0 0 0 STEPHEN MULLINS TRUSTEE 2.00 0.00 X 0 0 0 PATRICK W MULLOY II TRUSTEE 2.00 0.00 X 0 0 0 JANET PETERWORTH TRUSTEE 2.00 0.00 X 0 0 0 LEONARD M SPALDING TRUSTEE 2.00 0.00 X 0 0 0 DR MARIAN A SWOPE TRUSTEE 2.00 0.00 X 0 0 0 TOM THOMAS TRUSTEE 2.00 0.00 X 0 0 0 MATT THORNTON TRUSTEE 2.00 0.00 X 0 0 0 STEVE TRAGER TRUSTEE 2.00 0.00 X 0 0 0 JD WHYTE TRUSTEE 2.00 0.00 X 0 0 0 PAUL GORE VP ACADEMIC AFFAIRS/PROVOST 40.00 0.00 X 243428 0 13066 HELEN-GRACE RYAN VP STUDENT AFFAIRS 40.00 0.00 X 169961 0 5299 SEAN RYAN SENIOR VICE PRESIDENT 40.00 0.00 X 224025 0 23989 MIKE MARSHALL VP ENROLLMENT, MARKETING, AND COMMUNICATIONS 40.00 0.00 X 178645 0 14551 GLENN KOSSE VP DEVELOPMENT AND ALUMNI RELATIONS 40.00 0.00 X 209076 0 44781 ROBERT ZIMLICH VP ADMINISTRATION AND FINANCE 40.00 0.00 X 225845 0 34066 SUSAN DONOVAN PRESIDENT 40.00 0.00 X 530846 0 28393 FRANCIS RAYMOND PROFESSOR OF ECONOMICS 40.00 0.00 X 182156 0 11135 DANIEL BAUER PROFESSOR OF BUSINESS 40.00 0.00 X 168484 0 15132 SCOTT DAVENPORT HEAD COACH MEN'S BASKETBALL 40.00 0.00 X 242168 0 16520 ELIZABETH PAYNE PROFESSOR, ENDOWED CHAIRPERSON OF ACCOUNTING DEPT. 40.00 0.00 X 166012 0 11013 MARK WIEGAND ASSOCIATE PROVOST 40.00 0.00 X 159702 0 11136 2700348 0 229081 59 0 1 0 SODEXO 2001 NEWBURG ROAD LOUISVILLE KY 40205 FOOD SERVICES 2961562 FACILITIES MANAGEMENT SERVICES 1500 LYTLE STREET LOUISVILLE KY 40203 CLEANING SERVICES 1298696 SHIVELY SPORTING GOODS 4006 DIXIE HIGHWAY LOUISVILLE KY 40216 ATHLETIC EQUIPMENT 474858 LMH ARCHITECTURE PLLC 12808 TOWNEPARK WAY LOUISVILLE KY 40243 ARCHITECT 450000 FOLLETT HIGHER EDUCATION GROUP 2001 NEWBURG ROAD LOUISVILLE KY 40205 CAMPUS STORE 431927 39 202073 8537071 3271936 332284 12011080 TUITION AND FEES 611710 114419943 114419943 HOUSING 611710 3869386 3869386 FOOD SERVICE 611710 590994 590994 CAMPUS STORE 611710 131363 131363 MEMBERSHIP DUES 611710 4507 4507 5892160 5892160 124908353 2103488 14380 2089108 119039 119039 128545 90684 37861 37861 37861 9377882 3260 8090356 0 1287526 3260 1290786 1290786 72319 202073 61110 11209 11209 OTHER 531390 802449 802449 ATHLETIC REVENUE 711210 578597 578597 SPORTS CAMP 713990 68361 68361 30338 30338 1479745 141961561 126388098 14380 3548003 64040409 64040409 2185310 653038 1076831 455441 38192462 30335921 6886234 970307 524269 419661 91258 13350 5769116 4339162 1244385 185569 2641986 2128009 444121 69856 100012 200 99812 56469 56469 2368709 1121422 1185037 62250 1398922 1017422 380624 876 3287994 2552520 652102 83372 1836085 916287 838825 80973 1974270 1005530 968740 860880 784652 76145 83 142057 84365 52092 5600 3143070 3049683 93387 5128086 4833371 294715 668298 263456 404842 MEMBERSHIP AND DUES 2431087 2158212 262400 10475 PLANT 1851814 702579 1149235 0 CLASSROOM SUPPLIES 914983 914930 53 MEALS 570548 503041 66236 1271 3250044 2919054 240514 90476 143336880 124742924 16564057 2029899 6368 6370 16578748 12480306 6142601 4402980 5457381 10956817 494851 89946 131606 1320334 1258635 198154889 83740394 119209886 114414495 49031723 65419286 10871600 8824240 15443015 15741867 224151602 234131453 2909067 5167616 7451659 5313879 73140339 70903470 4232136 4103686 87733201 85488651 X 79375727 87010580 57042674 61632222 136418401 148642802 224151602 234131453 -1375319 13523618 76102 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 63607779 887526 16475563 1458029 996399 757672 77758768 64335063 527838 1819038 1378212 953960 741988 63607779 64779006 2500020 -131283 1261044 877361 674275 64335063 55332947 6877145 5042714 1179178 845546 449076 64779006 48648794 3368677 5846276 1253704 863546 413550 55332947 0.33050 0.66950 0 0 5204537 5204537 135950536 50801488 85149048 32337582 20151880 12185702 24662234 12787026 11875208 114414495 ENDOWMENT - REAL ESTATE 15741867 15741867 LONG-TERM CAPITAL LEASE 1683928 ADVANCES FOR STUDENT LOANS 350274 ANNUITY OBLIGATIONS 2069484 4103686 X 91672665 13523618 76102 151794 13751514 77921151 64040410 64040410 141961561 79448264 151794 151794 79296470 64040410 64040410 143336880 PART III, LINE 1A: THE HISTORICAL TREASURES OF THE UNIVERSITY CONSIST OF OVER 50,000 ITEMS OF THOMAS MERTON INCLUDING WRITINGS, DRAWINGS, PHOTOGRAPHS, PERSONAL POSSESSIONS, AND OTHER MERTON ARTIFACTS. THEY ARE KEPT IN THE THOMAS MERTON CENTER LOCATED IN THE UNIVERSITY LIBRARY BUILDING. THE MERTON CENTER IS USED FOR SCHOLARLY RESEARCH ON THOMAS MERTON, A WORLD CONTEMPLATIVE AND WRITER. IN ADDITION TO THE MERTON TREASURES, THE UNIVERSITY HAS NUMEROUS DOROTHY DAY TREASURES. DOROTHY DAY WAS A NOTED TWENTIETH-CENTURY CATHOLIC SOCIAL ACTIVIST AND THINKER. AMONG THE TREASURES OF THE UNIVERSITY ARE 136 ORIGINAL LETTERS FROM DOROTHY DAY, FOUR SIGNED BOOKS BY DOROTHY DAY, HUNDREDS OF EARLY CATHOLIC WORKER PHOTOS AND 523 CATHOLIC WORKER NEWSPAPERS, MOSTLY COMPLETE FROM THE FIRST ISSUE, 1933 THROUGH 1990. THESE MATERIALS ARE NOW AVAILABLE FOR CONSULTATION BY RESEARCHERS VISITING THE THOMAS MERTON CENTER AT BELLARMINE UNIVERSITY WHO ARE INTERESTED IN THE LIFE AND WORK OF DOROTHY DAY. PART V, LINE 4: THE UNIVERSITY HAS ADOPTED INVESTMENT AND SPENDING POLICIES APPROVED BY THE BOARD OF TRUSTEES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO SUPPORT CURRENT AND FUTURE UNIVERSITY NEEDS WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THESE ENDOWMENT ASSETS OVER THE LONG-TERM AND TO BUILD CAPITAL FOR FUTURE USE. THE UNIVERSITY'S SPENDING AND INVESTMENT POLICIES WORK TOGETHER TO ACHIEVE THIS OBJECTIVE. PART X, LINE 2: PURSUANT TO A DETERMINATION BY THE INTERNAL REVENUE SERVICE, THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. GAAP REQUIRES THE UNIVERSITY TO EVALUATE TAX POSITIONS TAKEN BY THE UNIVERSITY AND RECOGNIZE A TAX LIABILITY OR ASSET IF THE UNIVERSITY HAS TAKEN ANY UNCERTAIN TAX POSITIONS. THE UNIVERSITY HAS ANALYZED THE TAX POSITIONS TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR ASSET ON ALL INCOME TAX RETURNS THAT REMAIN OPEN TO EXAMINATION BY THE RESPECTIVE TAXING AUTHORITIES. THE UNIVERSITY DOES NOT BELIEVE THAT THERE ARE ANY UNCERTAIN TAX POSITIONS ON THOSE RETURNS THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR ASSET THAT SHOULD BE REFLECTED IN THE FINANCIAL STATEMENTS. THE UNIVERSITY IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS. HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE UNIVERSITY BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR TAX YEARS PRIOR TO MAY 31, 2018. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS 61,110. RENTAL EXPENSE 90,684. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 64,040,409. ROUNDING 1. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS 61,110. RENTAL EXPENSE 90,684. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 64,040,409. ROUNDING 1. 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 WRITTEN IN ALL OF THE PUBLICATIONS OF THE UNIVERSITY. ALSO, THE POLICY IS BROADCAST THROUGHOUT THE YEAR IN NUMEROUS PUBLIC PUBLICATIONS INCLUDING LOCAL NEWSPAPERS, PROMOTIONAL MATERIALS AND OTHER STUDENT BROCHURES. SCHEDULE E, PART I, LINE 6 BELLARMINE UNIVERSITY PARTICIPATES IN THE FOLLOWING FINANCIAL AID PROGRAMS: FEDERAL PELL GRANT PROGRAM, FEDERAL WORK-STUDY PROGRAM, FEDERAL SUPPLEMENTAL EDUCATIONAL GRANT OPPORTUNITY GRANT PROGRAM, FEDERAL PERKINS LOAN PROGRAM, FEDERAL DIRECT LOAN PROGRAM, FEDERAL DIRECT PLUS LOAN PROGRAM, AND TEACHER EDUCATION ASSISTANCE FOR COLLEGE AND HIGHER EDUCATION GRANTS PROGRAM. THE UNIVERSITY RECEIVED HIGHER EDUCATION EMERGENCY RELIEF FUNDS DUE TO THE COVID-19 PANDEMIC. FUNDS WERE RECEIVED AS PART OF THE CORONAVIRUS AID, RELIEF & ECONOMIC SECURITY (CARES) ACT, THE CORONAVIRUS RESPONSE & RELIEF SUPPLEMENTAL APPROPRIATIONS ACT (CRRSAA), AND THE AMERICAN RESCUE PLAN (ARP). THE UNIVERSITY COMPLIES WITH THE ANNUAL SINGLE AUDIT REQUIREMENTS, FILINGS WITH THE FEDERAL AUDITING CLEARINGHOUSE, AND THE DEPARTMENT OF EDUCATION FILINGS. KOFK 150292 132723 17569 1517 16052 ALUM - GOLF 33294 14885 18409 990 11160 4252 2007 5 90806 54465 36341 2977 6198 625 15332 274392 202073 72319 990 14137 11967 625 33391 61110 11209 1 SCHOLARSHIPS AND DISCOUNTS 2505 64040409 0 FMV PART I, LINE 2: SCHOLARSHIPS AND DISCOUNT AMOUNTS AWARDED TO STUDENTS ARE POSTED DIRECTLY TO EACH STUDENTS' ACCOUNTS RECEIVABLE SUBSIDIARY ACCOUNT. X X 1 1 X X X X 0 0 0 0 0 0 0 1 0 SUSAN DONOVAN PRESIDENT 395108 0 106750 0 28988 0 9222 0 19171 0 559239 0 0 0 ROBERT ZIMLICH VP ADMINISTRATION AND FINANCE 223535 0 0 0 2310 0 6687 0 27379 0 259911 0 0 0 SCOTT DAVENPORT HEAD COACH MEN'S BASKETBALL 216923 0 25245 0 0 0 6378 0 10142 0 258688 0 0 0 PAUL GORE VP ACADEMIC AFFAIRS/PROVOST 243428 0 0 0 0 0 6965 0 6101 0 256494 0 0 0 GLENN KOSSE VP DEVELOPMENT AND ALUMNI RELATIONS 209076 0 0 0 0 0 6227 0 38554 0 253857 0 0 0 SEAN RYAN SENIOR VICE PRESIDENT 224025 0 0 0 0 0 6750 0 17239 0 248014 0 0 0 FRANCIS RAYMOND PROFESSOR OF ECONOMICS 182156 0 0 0 0 0 5200 0 5935 0 193291 0 0 0 MIKE MARSHALL VP ENROLLMENT, MARKETING, AND COMMUN 178645 0 0 0 0 0 5294 0 9257 0 193196 0 0 0 DANIEL BAUER PROFESSOR OF BUSINESS 168484 0 0 0 0 0 5069 0 10063 0 183616 0 0 0 ELIZABETH PAYNE PROFESSOR, ENDOWED CHAIRPERSON OF AC 166012 0 0 0 0 0 4805 0 6208 0 177025 0 0 0 HELEN-GRACE RYAN VP STUDENT AFFAIRS 169961 0 0 0 0 0 4898 0 401 0 175260 0 0 0 MARK WIEGAND ASSOCIATE PROVOST 159702 0 0 0 0 0 4664 0 6472 0 170838 0 0 0 PART I, LINE 1A FIRST CLASS TRAVEL IS PROVIDED ONLY IN CERTAIN LIMITED SITUATIONS. THE PRESIDENT'S SPOUSE SOMETIMES ACCOMPANIES THE PRESIDENT ON OFFICIAL BUSINESS FOR THE UNIVERSITY. THE PRESIDENT RECEIVES A HOUSING ALLOWANCE BUT DOES NOT RESIDE IN A RESIDENCE OWNED BY THE UNIVERSITY. PART I, LINE 7 THE EXECUTIVE COMMITTEE REVIEWS THE PRESIDENT'S PERFORMANCE ON AN ANNUAL BASIS AND ESTABLISHES CRITERIA DURING THE NEXT FISCAL YEAR TO ESTABLISH GOALS THE PRESIDENT MUST MEET OR EXCEED IN ORDER TO QUALIFY FOR BONUS COMPENSATION. A LOU JEFF CO METRO GOVERNMENT IMPROVEMENT 616001862 2015-09-01 35405000 REFUNDING & CAP IMPROVEMENT 0 0 0 B LOU JEFF CO METRO GOVERNMENT IMPROVEMENT 616001862 2017-11-29 41290000 REFUNDING 0 0 0 A 6265000 36661070 2349214 455648 129716 10000145 23682400 43947 2016 0 1 0 1 B 750000 42840401 4095357 242481 137981 38270960 93622 0 1 0 1 A 0 0 0 0 1 0 0 B 0 0 0 0 1 0 0 A 0 0 0 1 0 0 0 0 0 B 0 0 0 1 0 0 0 0 0 A 0 B 0 SCHEDULE K - ALL BONDS: BONDS ISSUED SEPTEMBER 2015 AND NOVEMBER 2017. A DEBT SERVICE RESERVE FUND HAS BEEN ESTABLISHED FOR THE BONDS AND IS REQUIRED TO BE MAINTAINED IN AN AMOUNT EQUAL TO THE LEAST OF: (I) 10% OF THE NET PROCEEDS OF THE BONDS; (II) THE MAXIMUM ANNUAL DEBT SERVICE REQUIREMENTS; OR (III) 125% OF THE AVERAGE ANNUAL DEBT SERVICE REQUIREMENTS. AMOUNTS IN THE DEBT SERVICE RESERVE FUND MAY BE INVESTED BY THE UNIVERSITY ONLY IN INVESTMENT SECURITIES. THE MARKET VALUE OF THOSE SECURITIES AT MAY 31, 2021 WAS $4,095,357 AND $2,349,214 FOR THE SERIES 2017 AND 2015 BONDS RESPECTIVELY, AND ARE REFLECTED AS PLANT FUNDS ON THE STATEMENTS OF FINANCIAL POSITION. BOND ISSUE IN 2015: IN SEPTEMBER 2015, THE UNIVERSITY ISSUED $35,405,000 OF LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT, COLLEGE IMPROVEMENT REVENUE AND REVENUE REFUNDING BONDS, SERIES 2015 (BELLARMINE UNIVERSITY PROJECTS) OF WHICH $12,474,245 WAS USED FOR THE PURPOSE OF DEFEASING THE CITY OF SHIVELY, KENTUCKY, COLLEGE REVENUE REFUNDING BONDS, SERIES 2012 (SHIVELY 2012 BONDS) AND THE CITY OF AUDUBON PARK, KENTUCKY, COLLEGE REVENUE REFUNDING BONDS, SERIES 2012 (AUDUBON PARK 2012 BONDS) TOGETHER REFERRED TO AS THE BELLARMINE UNIVERSITY INCORPORATED PROJECT AND $13,138,788 WAS USED TO DEFEASE THE CITY OF SHIVELY, KENTUCKY, COLLEGE IMPROVEMENT REVENUE BONDS, SERIES 2011 (SHIVELY 2011 BONDS) AND THE CITY OF AUDUBON PARK, KENTUCKY COLLEGE IMPROVEMENT REVENUE BONDS, SERIES 2011 (AUDUBON PARK 2011 BONDS) TOGETHER REFERRED TO AS THE BELLARMINE UNIVERSITY INCORPORATED PROJECT. $10,816,138 WAS USED TO PROVIDE NEW MONEY TO RENOVATE THE FIRST FLOOR OF THE LIBRARY INTO A STATE-OF-THE-ART STUDENT LEARNING SPACE "LANSING LEARNING COMMONS", FOR THE CONSTRUCTION OF THE NEW "CENTRO" BUILDING A 46,000 SQUARE FOOT CLASSROOM AND OFFICE BUILDING, AND RENOVATION OF EXISTING HORRIGAN HALL. BOND ISSUED IN 2017: IN NOVEMBER 2017, THE UNIVERSITY ISSUED $30,280,000 OF LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT, COLLEGE IMPROVEMENT REVENUE REFUNDING BONDS, SERIES 2017A (BELLARMINE UNIVERSITY PROJECTS) AND ISSUED $11,010,000 OF LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT, COLLEGE IMPROVEMENT REVENUE REFUNDING BONDS, TAXABLE SERIES 2017B (BELLARMINE UNIVERSITY PROJECTS), WHICH WAS USED FOR THE PURPOSE OF DEFEASING THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT, COLLEGE REFUNDING AND IMPROVEMENT REVENUE BONDS, SERIES 2008A $25,005,000 (BELLARMINE UNIVERSITY PROJECT) WHICH WERE ISSUED FOR THE PURPOSE OF CONSTRUCTING A 146 BED RESIDENCE HALL, TO CONSTRUCT AN ADDITION TO A CLASSROOM BUILDING, AND TO RENOVATE AN OFFICE BUILDING AND TO DEFEASE $14,945,000 OF BONDS FROM THE LOUISVILLE JEFFERSON/COUNTY METRO GOVERNMENT, COLLEGE IMPROVEMENT REVENUE BONDS, SERIES 2009 $16,175,000 (BELLARMINE UNIVERSITY INCORPORATED PROJECT) OF WHICH THE MAJORITY WAS USED TO PROVIDE NEW MONEY TO CONSTRUCT A 119 BED RESIDENCE HALL, TO CONSTRUCT A SUBSTANTIAL ADDITION TO THE MAIN DINING HALL, RENOVATE AND EXPAND THE CAFE', AND ADD 276 SURFACE PARKING SPACES ON CAMPUS. SCHEDULE K, PART III, PRIVATE BUSINESS USE, LINE 9: THE UNIVERSITY IS IN THE PROCESS OF DEVELOPING POLICIES AND PROCEDURES. SCHEDULE K, PART IV, ARBITRAGE, LINE 2C: REBATE COMPUTATIONS ARE PERFORMED BY FROST BROWN TODD, PLLC ATTORNEYS AT LAW. SCHEDULE K, PART IV, ARBITRAGE, LINE 7: THE UNIVERSITY IS IN THE PROCESS OF DEVELOPING POLICIES AND PROCEDURES. SCHEDULE K, PART V, PROCEDURES: THE UNIVERSITY IS IN THE PROCESS OF DEVELOPING POLICIES AND PROCEDURES. JESSE FLYNN CURRENT UNIVERSITY TRUSTEE 251898 OPERATING LEASE 0 STEVE TRAGER CURRENT UNIVERSITY TRUSTEE 347215 CAPITAL LEASE 0 RUSSELL COX CURRENT UNIVERSITY TRUSTEE 287222 PROMOTIONAL ITEMS 0 PART IV: (A) NAME OF INTERESTED PERSON: JESSE FLYNN(B) RELATIONSHIP BETWEEN INTERESTED PERSONS AND THE ORGANIZATION: CURRENT UNIVERSITY TRUSTEE(C) AMOUNT OF TRANSACTION: $251,898(D) DESCRIPTION OF SERVICES: OPERATING LEASE. THE UNIVERSITY HAS A FIVE-YEAR LEASE WITH TAYLOR AVENUE LLC FOR A PROPERTY LOCATED AT 1961 BISHOPS LANE, LOUISVILLE, KY. MR. FLYNN IS A MEMBER OF TAYLOR AVENUE LLC. THE UNIVERSITY MADE LEASE PAYMENTS ON THIS PROPERTY FOR THE FISCAL YEAR IN THE AMOUNT OF $251,898. (A) NAME OF INTERESTED PERSON: STEVE TRAGER(B) RELATIONSHIP BETWEEN INTERESTED PERSONS AND THE ORGANIZATION: CURRENT UNIVERSITY TRUSTEE(C) AMOUNT OF TRANSACTION: $347,215(D) DESCRIPTION OF SERVICES: CAPITAL LEASE. THE UNIVERSITY HAS A 10-YEAR CAPITAL LEASE WITH THE REPUBLIC BANK AND TRUST. MR. TRAGER IS CHIEF EXECUTIVE OFFICER OF REPUBLIC BANK AND TRUST. THE LEASE WAS AWARDED THROUGH A COMPETITIVE PROCESS. THE UNIVERSITY PAID $347,215 DURING THE PERIOD COVERED BY THIS RETURN. (A) NAME OF INTERESTED PERSON: RUSSELL COX(B) RELATIONSHIP BETWEEN INTERESTED PERSONS AND THE ORGANIZATION: CURRENT UNIVERSITY TRUSTEE(C) AMOUNT OF TRANSACTION: $287,222(D) DESCRIPTION OF SERVICES: PROMOTIONAL ITEMS. THE UNIVERSITY PURCHASES PROMOTIONAL ITEMS FROM MPC PROMOTIONS. MR. COX IS THE SON-IN-LAW OF A PARTIAL OWNER OF THE COMPANY. THE UNIVERSITY SPENT $287,222 DURING THE PERIOD COVERED BY THIS RETURN. X 24 325447 MARKET VALUE X OTHER 6 6837 MARKET VALUE 0 1 0 SCHEDULE M, LINE 32B: THE UNIVERSITY HAS A WRITTEN GIFT ACCEPTANCE POLICY FOR THE REVIEW OF ANY NON-STANDARD CONTRIBUTIONS. THE POLICY REQUIRES THAT PRIOR TO ACCEPTING NON-STANDARD GIFTS THAT THE DEVELOPMENT OFFICERS REVIEW THE NEED OF THE UNIVERSITY FOR SUCH GIFT AND DISCUSS THE GIFT WITH THE AREA VICE-PRESIDENT OR DEAN OF THE DEPARTMENT TO DETERMINE THAT THE GIFT FALLS WITHIN THE UNIVERSITY'S MISSION AND VISION. FINAL APPROVAL OF THE GIFT IS MADE BY THE VICE-PRESIDENT FOR ADMINISTRATION AND FINANCE OR VICE-PRESIDENT FOR DEVELOPMENT AND ALUMNI RELATIONS. FORM 990, PART VI, SECTION A, LINE 2 MR. STEVE TRAGER, MR. W. PATRICK MULLOY, AND MR. ERNEST MARSHALL, CURRENT TRUSTEES, HAVE A BUSINESS RELATIONSHIP. MR. RUSS COX, CURRENT TRUSTEE, IS THE PRESIDENT AND CEO OF NORTON HEALTHCARE AND MR. CRAIG GRANT, CURRENT TRUSTEE, IS A MEMBER OF THE BOARD OF NORTON HEALTHCARE. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PREPARED BY DEAN DORTON WITH INFORMATION GATHERED FROM THE UNIVERSITY. THE FINAL RETURN IS REVIEWED IN DETAIL BY THE ASSOCIATE VICE-PRESIDENT FOR BUSINESS AFFAIRS. THE AVP IS AN ATTORNEY AND CPA WITH 20+ YEARS OF TAX EXPERIENCE. CONTINUING EDUCATION ON TAX REQUIREMENTS IS PROVIDED TO THOSE INVOLVED WITH THE PREPARATION AND REVIEW OF THE 990. THE RETURN IS GIVEN TO THE AUDIT COMMITTEE. THE AUDIT COMMITTEE REVIEWS AND DISCUSSES THE RETURN. THE AUDIT COMMITTEE REPORTS INFORMATION REGARDING THE 990 TO THE FULL BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION SENDS ITS CONFLICT OF INTEREST POLICY TO ALL BOARD MEMBERS ANNUALLY. THE VP FOR FINANCE MONITORS THAT ALL MEMBERS RETURN A SIGNED COPY INDICATING THEY HAVE REVIEWED THE POLICY AND LISTED ANY POTENTIAL CONFLICTS. ANY BOARD MEMBER WHO HAS A CONFLICT OF INTEREST ON ITEMS THAT ARE VOTED ON AT THE TRUSTEE LEVEL RECUSE THEMSELVES FROM THE VOTE. CONFLICTS IN THE NORMAL COURSE OF BUSINESS THAT DO NOT REQUIRE A BOARD VOTE ARE NOTED AND THE UNIVERSITY FOLLOWS NORMAL PURCHASING AND BID PROCEDURES. ADDITIONALLY, ALL EMPLOYEES RECEIVE A UNIVERSITY HANDBOOK AND SIGN AN ACKNOWLEDGMENT INDICATING SUCH RECEIPT. THE CONFLICT OF INTEREST POLICY IS LOCATED WITHIN THE STAFF HANDBOOK. LASTLY, THE ORGANIZATION MAINTAINS AN ETHICS AND COMPLIANCE HOTLINE ALONGSIDE A SYSTEM NAMED "RED FLAG REPORTING". THIS SYSTEM, OPERATED BY A LOCAL PUBLIC ACCOUNTING FIRM, ALLOWS STUDENTS AND STAFF TO REPORT ANY CONCERNS REGARDING IMPROPER ACTIVITY WITHIN THE UNIVERSITY WITH THE OPTION TO REMAIN ANONYMOUS. INTERESTED PARTIES MAY REPORT IMPROPER ACTIVITY BY CALLING 1-877-647-3335 OR VISITING REDFLAGREPORTING.COM. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENTIAL CONTRACT AND COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE PRESIDENT'S SALARY ON A YEARLY BASIS; INCLUDING BASE COMPENSATION, BONUS AND FRINGE BENEFITS. THE PRESIDENTIAL CONTRACT AND COMPENSATION COMMITTEE EVALUATES THE COMPENSATION OF THE PRESIDENT BASED ON ESTABLISHED GOALS AND DISCUSSES AND APPROVES THE NEW SALARY ON AN ANNUAL BASIS. THE UNIVERSITY AND PRESIDENT ARE BOUND BY A CONTRACT. THE CONTRACT IS NEGOTIATED AND/OR EXTENDED BY THE PRESIDENTIAL CONTRACT AND COMPENSATION COMMITTEE OF THE BOARD WITH APPROVAL OF THE FULL BOARD OF TRUSTEES. AS PART OF THE EVALUATION PROCESS USED BY THE PRESIDENTIAL CONTRACT AND COMPENSATION COMMITTEE OF THE BOARD, MARKET DATA, SALARY SURVEYS OF SIMILAR INSTITUTIONS, AND OTHER RELEVANT INFORMATION ARE REVIEWED IN CONJUNCTION WITH THE PRESIDENT'S REPORT ON ACCOMPLISHMENTS. ALL EMPLOYEES, OTHER THAN THE PRESIDENT, ARE EVALUATED BY THEIR IMMEDIATE SUPERVISOR ON AN ANNUAL BASIS. THE VICE-PRESIDENTS OF THE UNIVERSITY ARE EVALUATED BY THE PRESIDENT. THE UNIVERSITY USES CUPA DATA TO COMPARE SALARIES FOR OTHER LIKE INSTITUTIONS TO OUR COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY MAKES AVAILABLE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS TO THE GENERAL PUBLIC UPON REQUEST DURING THE REGULAR BUSINESS HOURS OF THE UNIVERSITY. THE 990 IS ALSO AVAILABLE ON GUIDESTAR FOR PUBLIC INSPECTION. FORM 990, PART XII, LINE 2C: THE RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT AND THE SELECTION OF THE INDEPENDENT CERTIFIED PUBLIC ACCOUNTANT HAS NOT CHANGED SINCE THE LAST FISCAL YEAR. HIGHLANDS COURT INC 1720 RICHMOND DRIVE LOUISVILLE KY 40205 310955903 SENIOR HOUSING KY 501(C)(3) LINE 10 0 BECVAR CHARITABLE REMAINDER UNITRUST 2001 NEWBURG ROAD LOUISVILLE KY 40205 911825410 KY T 0 PLAMP CHARITABLE REMAINDER UNITRUST 2001 NEWBURG ROAD LOUISVILLE KY 40205 911825400 KY T 0 GORMAN CHARITABLE REMAINDER UNITRUST 2001 NEWBURG ROAD LOUISVILLE KY 40205 911910556 KY T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0