2021-01-27T11:22:33-06:00 2019-06-30 450250958 Eide Bailly LLP 1730 Burnt Boat Loop Ste 100 Bismarck ND 585030886 990 2018-07-01 450273403 University of Mary UNIV 7012557500 7500 University Dr Bismarck ND 585049652 Christi Schaefbauer V.P. for Financial Affairs 7012557500 2020-07-09 1 Lisa Chaffee CPA P00193453 7012551091 2020-07-09 2018 2022-09-23 18:48:47Z Christi Schaefbauer 7500 University Dr Bismarck ND 585049652 111570037 0 X www.umary.edu X 1959 ND A private institution of higher education offering graduate and undergraduate degrees. 32 29 1222 31 8713 7603 13055631 13627102 65437433 72536938 3009804 2318906 444229 557674 81947097 89040620 16291622 20338498 0 0 30953091 34082694 0 0 6512045 27347833 34029423 74592546 88450615 7354551 590005 181119584 185060660 61528742 65712980 119590842 119347680 X The University of Mary exists to serve the religious, academic and cultural needs of the people in this region and beyond.(Continued on Schedule O) 0 0 20719089 60002202 Academic Divisions - This area contains the curriculum and related expenses for all divisions of the college, including both post-secondary education and graduate programs. University of Mary serves approximately 3,722 students and has 533 faculty members. They have four schools with more than 60 degree programs. In addition, there are 14 graduate degree programs and four doctoral degrees. They average a placement rate of approximately 96 percent overall for their graduates. 19912662 19912662 Student Aid & Expenses - University of Mary offers various types of financial assistance to students including federal, state, and private programs as well as other forms of student aid and work programs. During the current year, 1,468 students received some type of academic student aid and 331 students received athletic student aid. In addition, 100 international students received student aid as well. 8893788 8537017 Auxiliary Activities - Auxiliary activities includes all student housing and food services including the cost of residence halls, student apartments, and student transportation service. The University of Mary also has a university store, cafeterias, snack bar and coffee shop. 22421962 425836 4553794 Educational Plant Operations, Financial Affairs, General Institutional, Public Affairs, Enrollment Services, and all other services including General Administration, Academic Affairs, Student Development, and Student Senate. 22421962 425836 4553794 71947501 1 1 0 0 0 1 0 1 1 1 1 0 0 0 1 1 1 0 1 1 1 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 0 0 0 1 214 1 1 1222 1 1 1 1 IT 0 0 0 1 1 0 0 0 0 0 0 X 32 29 1 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 1 1 CO CA MN WA X Christi Schaefbauer 7013558303 7500 University Dr Bismarck ND 58504 X Dan Butler Chair 1.00 X X 0 0 0 Sister Nicole Kunze Prioress, President 1.00 40.00 X X 0 0 0 Tim Hennessy Vice Chair 1.00 X X 0 0 0 Sister Patricia Schap Secretary 1.00 X X 0 0 0 A Kirk Lanterman Trustee 1.00 X 0 0 0 Gary Miller Trustee 1.00 X 0 0 0 Pauline Economon Trustee 1.00 X 0 0 0 Dr Gary Watts Trustee 1.00 X 0 0 0 Bill Simmons Trustee 1.00 X 0 0 0 Gary Tharaldson Trustee (July-May) 1.00 X 0 0 0 Michael Appert Trustee (May-June) 1.00 X 0 0 0 Bill Daniel Trustee 1.00 X 0 0 0 Julie Liffrig Fedorchak Trustee 1.00 X 0 0 0 Monsignor Greg Schlesselmann Trustee 1.00 X 0 0 0 Kurt Schley Trustee 1.00 X 0 0 0 Kevin Cramer Trustee 1.00 X 0 0 0 Dr Jonathan Reyes Trustee 1.00 X 0 0 0 Kathy Miller Trustee 1.00 X 0 0 0 Sister Agatha Muggli Trustee 1.00 X 0 0 0 Sister Joann Krebsbach Trustee 1.00 X 0 0 0 Chris Baumgartner Trustee 1.00 X 0 0 0 David Ehlis Trustee 1.00 X 0 0 0 Abbot Daniel Maloney Trustee 1.00 X 0 0 0 Sister Agnes Reinert Trustee 1.00 X 0 0 0 Sister Susan Lardy Trustee (July-May) 1.00 X 0 0 0 Al Anderson Trustee (May-June) 1.00 X 0 0 0 Scott Davis Trustee 1.00 X 0 0 0 Kathleen Gaddie Trustee 1.00 X 0 0 0 Tom Engelhardt Trustee 1.00 X 0 0 0 Nicole Kivisto Trustee 1.00 X 0 0 0 Mikey Hoeven Trustee 1.00 X 0 0 0 Sister Rosemary DeGarcia Trustee 1.00 X 0 0 0 Laurie Steffes Trustee 1.00 X 0 0 0 Monsignor James P Shea President 40.00 X X 152480 0 22741 Gregory Vetter Executive Vice President 40.00 X 177412 0 33467 Rodney Jonas Dean of Edu. & Behavioral Science 40.00 X 135751 0 17400 Joellen Roller Dean of School of Health Science 40.00 X 129979 0 17026 Glenda Reemts Dept Chair of Nursing 40.00 X 107340 0 19778 Janeene Sibla Professor-Dept. Chair of O.T. 40.00 X 129413 0 9559 Mary Dockter Professor-Dept. Chair of P.T. 40.00 X 115376 0 26271 947751 0 146242 18 0 1 0 Compass Group USA Inc 5375 Creekside Place LaCrosse WI 54601 Dining Services 6339386 Dynamic Campus Solutions Inc 2806 Flintrock Trace Suite 205 Austin TX 787381746 IT Services 1749904 Kraus Anderson Construction Co 501 S Eighth St Minneapolis MN 55404 Contracted Services 850487 Bartlett & West Inc PO Box 653 Wichita KS 672010653 Contracted Services 393261 Collegis LLC 1415 W 22nd St Suite 220 Oak Brook IL 60523 Consulting Services 381302 13 369300 181364 13076438 311254 13627102 Student Tuition & Fees 611600 60002202 60002202 Auxiliary Enterprises 611600 8537017 8537017 Other 611600 3997719 3989006 8713 72536938 1478322 1478322 21891577 20337066 713927 1554511 -713927 840584 840584 57774 369300 73548 -15774 -15774 28020 10647 17373 17373 1950304 1394229 556075 556075 89040620 73084300 8713 2320505 425836 425836 19912662 19912662 392226 356266 35960 206879 206879 26148486 24055083 373789 1719614 1485456 1340092 26349 119015 3837547 2760402 859657 217488 2012100 1824099 55231 132770 34713 1285 33428 78452 78452 4050259 1228232 2789435 32592 2102290 110378 139614 1852298 2578038 1253513 658469 666056 991466 1810 989656 2885581 2700852 177529 7200 1141365 1138307 1558 1500 810257 669450 53515 87292 2144043 14698 2129345 4548314 3936813 611501 109873 28256 81617 Dining Services 5814912 5814912 Activities Expense 3003154 1791787 214638 996729 Repairs & Maintenance 1042010 897885 142837 1288 Foreign Campus 229727 229727 2464969 1604543 218183 642243 88450615 71947501 9991069 6512045 12131286 9675839 517072 179267 13052875 17795157 1042594 2083075 17625 14000 381008 375471 356228 52557 142622071 47226736 94598405 95395335 56021879 57271524 2846259 2063210 154353 155225 181119584 185060660 4917617 7711287 11700 11700 9336206 10514342 37219500 34076728 940386 989925 4626145 3738645 5000000 4477188 3670353 61528742 65712980 X 59778906 54428412 17496570 21011418 42315366 43907850 119590842 119347680 181119584 185060660 X 590005 -512367 -178099 -142701 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 39178 811627 1 1 179133 X X 0 0 1 X 54459778 1756384 1811288 1976422 56051028 50825073 1918917 2667330 201893 749649 54459778 48866791 857051 2621291 268326 1251734 50825073 50035030 3049111 -1413717 516948 1520307 49633169 43309896 11919245 1077995 592603 5679503 50035030 0.09520 0.78340 0.12140 0 0 1107306 1107306 116771098 31311234 85459864 7308260 4620507 2687753 13022843 11294995 1727848 1742729 2669835 4412564 95395335 Annuities Payable 1791025 Government Grants Refundable 603095 Unitrust Payments Due Grantors 1276233 3670353 X 89008560 -512367 66541 -1064657 -1510483 90519043 -1478423 -1478423 89040620 89251722 244640 1478423 1723063 87528659 921956 921956 88450615 Part III, Line 4: All gifts are subject to prior review and approval by the board. Gifts received help to further higher education by serving academic, religious, and cultural needs of the students. Part IV, Line 2b: University of Mary chartered clubs, student academic associations, and approved faculty and staff associations have established university agency accounts. Part V, Line 4: Permanently Restricted and Board Restricted Endowments - Income from these funds is used to help further the exempt purpose of the university. Loan Fund Endowments - Used to loan students money on a short term basis until financial aid comes through. Typically, the loans are only outstanding for a week or so. Family Fund Endowments - To benefit various non-profit organizations specified by the donor including the university. Part X, Line 2: The University is a nonprofit organization and has been recognized by the Internal Revenue Service (IRS) as exempt from federal income taxes under Section 501(c)(3). The University is annually required to file a Return of Organization Exempt from Income Tax (Form 990) with the IRS. In addition, the entities are subject to income tax on net income that is derived from business activities that are unrelated to their exempt purposes. The University has determined it is subject to unrelated business income tax and has filed an Exempt Organization Business Income Tax Return (Form 990-T) with the IRS. The University believes that it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The entities would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. Part XI, Line 2d - Other Adjustments: Actuarial Losses - Unitrust 20,497. Actuarial Losses - Annuities -163,198. Pledge Rec Allow/Disc Recorded in Revenues for Financials -921,956. Part XI, Line 4b - Other Adjustments: Cost of Sales Expense Recorded in Revenues for Tax Return -1,394,229. Grant Expense Recorded in Revenues for Tax Return Fundraising Expense Recorded in Revenues for Tax Return -84,194. Part XII, Line 2d - Other Adjustments: Cost of Sales Expense Recorded in Revenues for Tax Return 1,394,229. Grant Expense Recorded in Revenues for Tax Return Fundraising Expense Recorded in Revenues for Tax Return 84,194. Part XII, Line 4b - Other Adjustments: Pledge Rec Allow/Disc Recorded in Revenues for Financials 921,956. Schedule D, Part I: See Schedule I for additional information. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 0 Schedule E, Part I, Line 3 The University does routinely publicize its policy through newspaper including job opening advertisements. The University does make the policy accessible to the public through its website. The University does not routinely publicize its policy through broadcast media currently, but it plans to in the future. Schedule E, Part I, Line 6 The University receives Title IV funds and trio funds and administers the use of those funds. Schedule E, Part I, Line 7 4.03 - The University does not publicize its policy through newspaper or broadcast media. EUROPE 1 4 Foreign University Campus University Studies 618322 1 4 0 0 1 4 618322 0 618322 0 0 0 0 0 0 Part I, line 3: Accrual Basis Accounting Gala 384650 369300 15350 7979 23129 1000 15473 Marauders Fest 42424 42424 200 585 11823 7374 5985 427074 369300 57774 200 8564 11823 30503 1000 21458 73548 -15774 28020 10313 334 0 28020 10313 334 10647 17373 0 0 0 0 1.00000 DeeAnn Jahner 7500 University Drive Bismarck ND 58504 0 Kevin Becker 68717 Manages the sale of raffle tickets and the delivery of prizes. X 0 1 Bismarck Mandan Chamber Foundation 1640 Burnt Boat Dr Bismarck ND 58501 263807225 501c3 50000 General Operating Bismarck Mandan Symphony Orchestra 215 N 6th St Bismarck ND 58501 510188161 501c3 8000 General Operating Bismarck Parks & Recreation 400 E Front Ave Bismarck ND 58504 450409352 government 5000 General Operating Becket Fund 1200 New Hampshire Ave NW Ste 700 Washington DC 20036 521858532 501c3 10000 General Operating God's Child Project PO Box 1843 Bismarck ND 58502 450422423 501c3 25339 General Operating Light of Christ Catholic Schools of Excellence 1025 N 2nd St Bismarck ND 58501 460581758 501c3 23818 General Operating March for Life Education and Defense Fund 1012 14th St NW Ste 300 Washington DC 20005 521231772 501c3 15780 General Operating Pontifical North American College 3211 4th St NE Washington DC 20017 237201921 501c3 7500 General Operating Annunciation Monastery 7520 University Dr Bismarck ND 58504 450261530 501c3 7904 General Operating Minot State University 500 University Ave W Minot ND 58707 456002481 government 5802 General Operating Minot Catholic Schools Foundation 316 11th Ave NW Minot ND 58701 450340749 501c3 5802 General Operating 11 0 Student Work Contracts 307 528277 Univ Share of On Campus WS 307 58305 Univ Share of SEOG 546 80483 Volleyball 12 132780 YRC Summer Grant Replacement Scholarship 25 1468 Women's Tennis 9 69695 Women's Softball 17 183944 Football 101 703379 Wrestling 25 114396 Catholic Bishop's Scholarship 18 51943 Men's Basketball 15 248258 Women's Basketball 15 256904 Men's Track 24 162472 Women's Track 27 275383 Baseball 28 123211 Men's Soccer 19 160175 Women's Soccer 19 227476 Fifth Year 5 17500 Music 99 134576 Student Activities Scholarships 72 26395 UM Nursing Tuition Grant 10 105004 National Guard Waiver 3 3330 Military Scholarship 171 524406 Veteran's Yellow Ribbon 3 2042 Presidential 1629 7257274 Catholic Scholars 239 1302284 Honors Day 7 57000 Catholic Educators 50 172715 SSS Merit Scholarship 97 47696 Pacesetter Grant 58 16560 Phi Theta Kappa 41 218750 SSS Book Grant 146 10950 CIC - T&P 3 25200 Donated Scholarships 8 30249 Business Partnership Scholarship 160 171832 UM Need-Based Grant 555 1216355 Student Teacher Training 22 29930 Cultural Diversity Scholarship 1 16800 Newman Academic Scholarship 105 719622 Aquinas Scholarship 43 73250 St. Benedict Scholarship 1 6000 St. Christopher Scholarship 10 5000 Auxiliary Scholarship 12 31131 Continuing Catholic Educ. Scholarship 1 1680 St. Scholastica Scholarship 16 9493 Spring to Summer Scholarship 52 45103 Community Commitment Scholarship 172 76752 CHI Future Healthcare Leader Scholarship 20 41250 Catholic Non-Trad Graduate Scholarship 1 885 ECOWEB Scholarship 3 30000 CHI St. Alexius Partnership Scholarship 15 20279 Next Step Scholarship 9 20825 Women's Swimming 20 133545 CHI Nursing Scholarship 37 323145 CHI North Dakota Partnership 1 536 Founders Scholarship 4 17000 Dean's Scholarship 8 17000 15K MBA 323 3310353 UM - NAELP 66 63739 Preceptor Development Scholarship 4 18000 Impact 11 29110 Benedictine Hospitality Scholarship 1 12496 FOCUS Scholarship 9 108366 Leadership Institute Scholarship 7 30000 Program for Elders Scholarship 2 2240 Tribal Grant 57 -2500 Mission Advancement Scholarship 27 -10137 ASU Domestic Exchange 9 8400 Part I, Line 2: The University is contributing funds to charitable oganizations in accordance with endowment agreements that govern the distribution of the underlying funds. The University also verifies that the grants given to the charitable organization are for the benefit of individual students for scholarships. Form 990, Schedule I, Part III: Student awards, grants and loans are awarded on basis of need. Scholarships are awarded based upon need and academic or special achievements. X X 0 1 X X X 0 0 0 0 0 0 0 0 0 Monsignor James P Shea President 152291 0 189 0 0 0 12521 0 10527 0 175528 0 0 0 Gregory Vetter Executive Vice President 177412 0 0 0 0 0 14727 0 19053 0 211192 0 0 0 Rodney Jonas Dean of Edu. & Behavioral Science 135751 0 0 0 0 0 8605 0 9024 0 153380 0 0 0 Part I, Line 1a The President is required to live in the President's House on campus. The President receive various minor personal services for convenience such as automotive maintenance. These are nontaxable benefits and not reported as taxable compensation. Part I, Line 1b In 2009, the Board of Trustees voted that it was in the interests and convenience of the University to maintain president's housing on campus and therefore established a residence for the president. A Burleigh County North Dakota 456002204 12139LAC6 2016-09-29 35000000 Education Facilities Revenue Bonds Series 2016 0 0 0 A 110000 35000000 2425431 1235603 795443 30543523 2017 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 0 0 0 0 0 1 A 1 Robert Shea Robert Shea is the brother of President Monsignor James P. Shea 53782 Compensation 0 Robyn Zeltinger Robyn Zeltinger is the daughter of board member Tim Hennessy 78400 Compensation 0 Collin Engelhardt Collin Engelhardt is the son of board member Tom Engelhardt 74697 Compensation 0 X 13 226702 FMV at date of gift X 1 24000 Cost X Academic Equipment 2 44000 Cost X Miscellaneous Donations 15 16552 Cost 0 1 0 Form 990, Part III, Line 1: It takes its tone from the commitment of the Sisters of Annunciation Monastery. These Sisters founded the University in 1959 and continue to sponsor it today. It is Christian, it is Catholic, and it is Benedictine. We cherish our Christian, Catholic, Benedictine identity; we welcome and serve persons of all faiths. We are faithfully Christian. As a Christian university, we strive to accomplish our mission in faithfulness to the Gospel of Jesus Christ. We regard each human person as created in the image and likeness of God, gifted with life and dignity. We seek to be agents of cultural renewal in our time and place, courageous advocates for justice and peace. Our Christian commitment is born from and sustained by the encounter of the Risen Lord, who came not to be served but to serve. As He humbly washed the feet of His disciples on the night before He died, so we seek to serve one another. We are faithfully Christian. We are joyfully Catholic. As a Catholic university, we joyfully draw our life from the heart of the Church, identifying with the ancient tradition which gave rise to the first universities in medieval Europe. This Catholic intellectual tradition proposes an integrated spiritual and philosophical approach to the most enduring questions of human life. Thus we seek to advance the vital dialogue between faith and reason, while acknowledging the proper autonomy of the arts, sciences, and professions. A university is a place for the free exchange of ideas, and so we warmly welcome students and faculty of many faiths and convictions. At the same time, our common discourse ever takes place in a spirit of authentic respect for Catholic teaching and practice. We acknowledge the Catholic faith as a path to moral integrity and personal holiness. We are joyfully Catholic. We are gratefully Benedictine. As a Benedictine university, we remember with gratitude the Benedictine Sisters who came to Dakota Territory in 1878, bringing ministries of teaching and healing. This community of Sisters would become our founders and sponsors and, through them, we share in the 1500-year-old heritage of the Benedictines. Inspired by lives of prayer, community, and service, Saint Benedict and his spiritual followers through the ages have been a stable source of tremendous good in the world: renewing the Church, preserving learning, cultivating wisdom, modeling humane virtues of balance and generosity. The life of our Sisters shapes our life. We are gratefully Benedictine. Form 990, Part VI, Section A, line 1 The President of the University shall be an ex officio member of the Board of Trustees. The President shall not vote on matters concerning or related to 1) the appointment of a successor, 2) the President's compensation, or 3) matters affecting the President's own interest, in accordance with Article X, Section 2, of the University's Bylaws. The President shall cease to be a trustee when no longer holding that position. Form 990, Part VI, Section A, line 1 Standing Committees: The corporation shall establish and maintain as standing committees a Trusteeship Committee, an Audit Committee, a Public Affairs and Mission Advancement Committee, and an Executive Committee. A. Trusteeship Committee: The Trusteeship Committee shall be appointed annually by the President of the Board (prioress). The committee shall consist of four (4) trustees, which includes the president of the university as an ex-officio member of the committee. Such trusteeship committee shall recommend to the corporate membership names and qualifications for consideration to fill any positions on the board of trustees. After approval by the corporate membership, the trusteeship committee submits to the board of trustees nominees for election to the board. In addition, the committee shall recommend to the board a slate of candidates for chair, vice chair, and secretary. A majority vote of the total board of trustees currently serving is required for election of a trustee or an officer. The committee shall develop and administer a program of orientation for newly appointed trustees. B. Executive Committee: The chair of the board of trustees, in consultation with the president of the board (prioress), the president of the university, and other trustees shall appoint the executive committee at the annual meeting. The executive committee shall consist of nine (9) trustees, to include the chair of the board, the president of the board (prioress), four additional members of the corporation and three additional trustees. Serving as the principal liaison to the board of trustees, the president of the university shall be present ex officio without a vote and not to be counted for a quorum. A quorum of the executive committee is a majority of the trustees serving on the executive committee. To constitute a valid quorum, the quorum must include four (4) members of the corporation. A quorum of the executive committee is required to transact business. If a quorum is not present at a meeting, a majority of those present may adjourn the meeting without further notice. The executive committee shall meet as often as necessary to conduct its business as determined by the chair and the president of the university. There shall be at least two (2) regular meetings of the executive committee annually. In collaboration with the president of the university, the duties of the executive committee shall include the following: -Making decisions that have been delegated by the full board -Taking action on emergency matters which cannot or should not be deferred to the board's next scheduled meeting -Performing initial assessment of the President of the University annually -Performing such duties as described in its statement of operation The Executive Committee shall act on behalf of the board between meetings except on the following matters: -Selection and appointment of the President of the University -Selection of trustees and officers -Adoption of the annual budget -Conferral of degrees -Exercise of those powers reserved by the members of the corporation as provided in Article V. Section 3 of the University's bylaws Other Committees: After consultation and recommendation of the Board of Trustees, the Chair of the Board of Trustees shall designate and appoint committees to facilitate the actions of the Board of Trustees, enabling it to function more efficiently and effectively. Each committee shall have, subject to the approval of the Board of Trustees, a statement of operation prescribing the purposes, goals and responsibilities of the committee. Other committees that currently exist are: -Investment Committee -Finance Committee -Enrollment Services Committee -Academic Affairs and Student Life Committee -Public Affairs and Mission Advancement Committee Form 990, Part VI, Section A, line 2 Family and Business Relationships - 1. Board Member David Ehlis and Officer Greg Vetter have a business relationship. Form 990, Part VI, Section A, line 6 Members - Membership of the corporation shall consist of those sisters serving in the sponsorship group as established from time to time by the monastic community known as the Benedictine Sisters of the Annunciation, BMV, who have made their perpetual monastic profession. Form 990, Part VI, Section A, line 7a Powers shared with Board of Trustees - The following reserved powers shall be exercised by the members of the corporation and the board of trustees. The power of the board to act on any of these matters is subject to the requirement that the members of the corporation shall approve such action prior to the submission of the matter to a vote of the board of trustees. A. To approve any person to be elected to serve on the board of trustees or to remove any trustee if this action is indicated. B. To approve a new candidate appointed to serve as president of the university. Form 990, Part VI, Section A, line 7b Powers Reserved to Corporation Members - Exercise of the following powers shall be reserved solely to corporation members to: A. Approve any change in the sponsorship, reserved powers or mission of the university as an institution founded on christian, catholic, and benedictine tradition. B. Approve the sale or encumbrance of all or substantially all of the assets or property of the corporation. C. Approve the merger, liquidation or dissolution of the corporation. D. Amend, alter or repeal the articles of incorporation or the bylaws of the corporation. E. Change the name of the corporation. Form 990, Part VI, Section B, line 11b Upon receipt of the draft Form 990, the organization will review the 990 and provide a public disclosure copy to the board for review. The board comments are provided to the organization and any resulting changes are included in the final Form 990. Form 990, Part VI, Section B, line 12c The board of directors completes a conflict of interest questionnaire each year. No member, trustee, officers or committee member shall be disqualified from holding any position by reason of any interest, but any conflict of interest must be disclosed to the board of trustees at the earliest practical time. A member, trustee, officer or committee member shall be considered to have a conflict of interest if such person (a) has an existing or potential financial or other interest which impairs or might reasonably appear to impair such person's independent unbiased judgment in the discharge of responsibilities to the corporation, or (b) is aware that an immediate family member or any organization in which such person, or an immediate family member, is an officer, director, employee, member, partner, trustee, or controlling stockholder has such existing or potential financial interests. A trustee does not have a conflict of interest in acting on a resolution fixing the compensation of any trustee, officer, employee, or agent of the corporation. No member, trustee or committee member shall vote on any matter under consideration in which such person has a conflict of interest, and shall not be counted as a part of the quorum for the vote on the matter. The minutes of such meeting shall reflect that a disclosure was made and that the person abstained from voting. Any member, trustee or committee member who is uncertain whether there is a conflict of interest in any matter may request the membership, the board or committee to determine whether a conflict of interest exists and resolve the question by majority vote. Form 990, Part VI, Section B, line 15a The president's salary is reviewed annually by the independent board. The University uses the Jaffe Salary Survey as well as CUPA Salary Reports (College and University Professional Association) to obtain comparable data from other midwestern universities. The information is documented in a letter noting that the board has accepted and approved the salary change. The top financial official's salary is currently reviewed and approved by the president annually. The same Jaffe Salary Survey and CUPA Salary Report is used for comparable data. The percentage increase is documented in an employment contract, but not in the board meeting minutes. Form 990, Part VI, Section C, line 19 The University provides its governing documents, conflict of interest policy and financial statements upon specific request. Part VII: The President, Monsignor James P. Shea, is required to live in a residence at the campus. The Board of Trustees, with his understanding and approval, has set his salary below market because he is a cleric. Form 990, Part XI, line 9: Actuarial Gains - Unitrust 20,497. Actuarial Losses - Annuities -163,198. Benedictine Sisters of the Annunciation BMV 7520 University Drive Bismarck ND 58504 450261530 Religious Purposes ND 501(c)(3) Line 1 N/A 0 Benedictine Ministries 7520 University Drive Bismarck ND 58504 813452507 Religious Purposes ND 501(c)(3) Line 7 Benedictine Sisters of the Annunciation BMV 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0