2021-02-25T20:15:56-06:00 2020-06-30 420714325 RSM US LLP 201 FIRST STREET SE SUITE 800 CEDAR RAPIDS IA 52401 990 2019-07-01 420686467 COE COLLEGE COEC 3193998643 1220 1ST AVE NE CEDAR RAPIDS IA 52402 ANGELA CALHOUN CHIEF FINANCIAL OFFICER 3193998643 2021-02-01 1 CARLEY LANE P00982177 3192985333 2021-02-01 2019 2022-09-23 18:48:47Z DAVID MCINALLY 1220 FIRST AVE NE CEDAR RAPIDS IA 52402 108688303 0 X WWW.COE.EDU X 1881 IA COE COLLEGE IS A PRIVATE, FOUR-YEAR CO-EDUCATIONAL LIBERAL ARTS COLLEGE 38 37 1545 634 0 0 6926021 11127385 70786151 71367542 5477161 390078 -5755 0 83183578 82885005 39144807 41988167 0 0 23430301 21661123 11675 0 675386 18658729 20162867 81245512 83812157 1938066 -927152 189854466 187151390 52627644 52071465 137226822 135079925 X SEE SCHEDULE O 0 0 66716594 41988167 61507606 EDUCATIONAL - COE COLLEGE IS A SELECTIVE, PRIVATE AND NATIONALLY RECOGNIZED FOUR-YEAR COEDUCATIONAL LIBERAL ARTS INSTITUTION, PROVIDING SUPERIOR EDUCATIONAL EXPERIENCES FOR STUDENTS SINCE 1851. TO EACH OF ITS MORE THAN 1,400 STUDENTS, THE INSTITUTION OFFERS THE ADVANTAGES OF A SMALL COLLEGE THAT IS DEDICATED TO ACADEMIC EXCELLENCE. STUDENT-FACULTY RATIOS ARE LOW AT 11 TO 1, THE AVERAGE CLASS SIZE IS 16, AND 95% OF FULL-TIME FACULTY MEMBERS HAVE EARNED THE HIGHEST DEGREE IN THEIR RESPECTIVE FIELDS. STUDENTS CAN THUS RECEIVE A LEVEL OF PERSONALIZED ATTENTION THAT HAS ALMOST DISAPPEARED ELSEWHERE IN MODERN ACADEMIA. THE CAMPUS PRESENTS AN INVITING ENVIRONMENT TO STUDENTS BOTH INSIDE AND OUTSIDE THE CLASSROOM, OFFERING A VARIETY OF OPPORTUNITIES FOR GROWTH AND PERSONAL ENRICHMENT IN THE MANY INTELLECTUAL, ATHLETIC AND SERVICE PURSUITS AVAILABLE. COE IS RECOGNIZED AS ONE OF THE FINEST LIBERAL ARTS COLLEGES IN THE COUNTRY BY A VARIETY OF WIDELY RESPECTED COLLEGE RANKING PUBLICATIONS THAT WEIGH ACADEMIC QUALITY AND STUDENT SELECTIVITY. COE COLLEGE ENJOYS BOTH AN EXCELLENT REGIONAL REPUTATION AND NATIONAL RECOGNITION FOR THE STRENGTH OF ITS PROGRAMS. THROUGH CAREFUL PLANNING, SELECTIVE USE OF RESOURCES, AND THE EFFORTS OF A DEDICATED FACULTY AND STAFF, COE HAS NOT ONLY MAINTAINED BUT STRENGTHENED ITS POSITION AMONG LIBERAL ARTS COLLEGES IN THE MIDWEST. 5805841 0 9859936 AUXILIARY ENTERPRISES - THIS INCLUDES THE COLLEGE'S RESIDENCE HALLS, COLLEGE RENTAL HOUSING, FOOD SERVICES, THE STUDENT UNION AND SUMMER CONFERENCES. WITH MORE THAN 1,200 STUDENTS IN CAMPUS HOUSING, RESIDENTIAL LIFE IS CENTRAL TO THE COE EXPERIENCE FOR STUDENTS. THE COLLEGE ALSO SERVES AS A RESOURCE TO THE SURROUNDING COMMUNITY THROUGHOUT THE YEAR BY HOSTING YOUTH CLUBS AND ACTIVITIES AND DERIVES SOME REVENUE FROM HOSTING SUMMER CONFERENCES IN ITS FACILITIES. 4888939 0 0 PROGRAM SERVICES - THIS INCLUDES EXPENDITURES FOR THE OPERATION AND MAINTENANCE OF COLLEGE FACILITIES. WITH 38 BUILDINGS ON MORE THAN 60 ACRES, MAINTENANCE OF COLLEGE FACILITIES IS AN IMPORTANT CONSIDERATION FOR THE COLLEGE. SIGNIFICANT CAMPUS IMPROVEMENTS OVER THE PAST TWO DECADES HAVE BEEN COMPLETED SO THAT STUDENTS AND FACULTY MAY ENJOY AN ENVIRONMENT CONDUCIVE TO LEARNING, WITH THE FACILITIES TO SUPPORT THE MISSION OF THE COLLEGE. 77411374 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 0 1 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 1943 0 1 1545 1 0 0 0 0 0 0 0 0 0 0 0 0 X 38 37 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 AL CO DC MA MD MI MN NH NV NY OH SC WA X ANGELA M CALHOUN CHIEF FINANCIAL O 3193998643 1220 1ST AVE NE CEDAR RAPIDS IA 52402 X DAVID MCINALLY TRUSTEE - PRESIDENT 40.00 X X 347685 0 36029 MICHAEL WHITE FORMER EXECUTIVE VICE PRESIDENT 40.00 X 269868 0 23702 PAULA O'LOUGHLIN PROVOST & DEAN OF THE FACULTY 40.00 X 157389 0 27795 DAVID HAYES VP FOR ADVANCEMENT - ASST SECY 40.00 X 163069 0 20472 JULIE STAKER VP FOR ENROLLMENT, MKTG & INST. 40.00 X 155468 0 19380 LARRY LEE VP FOR FINANCE & ADMINISTRATION 40.00 X 126178 0 28269 MARIO AFFATIGATO PROFESSOR OF PHYSICS, ASST TO PRES 40.00 X 139712 0 14258 JOSHUA KITE ASSISTANT VP FOR ENROLLMENT AND DEAN OF ADMISSIONS 40.00 X 115338 0 24625 STEVEN FELLER PROFESSOR OF PHYSICS 40.00 X 128468 0 7854 ANGELA CALHOUN CONTROLLER & CHIEF FINANCIAL OFFICER 40.00 X 119771 0 13556 WILLIAM HERRON PROFESSOR OF MATHEMATICS 40.00 X 111169 0 14832 KIM PRIBYL ASST TO PRESIDENT - ASST SECY 40.00 X 53367 0 11316 KEN GOLDER TRUSTEE - CHAIRMAN 1.00 X X 0 0 0 SIGI REYNOLDS TRUSTEE - VICE CHAIR 1.00 X X 0 0 0 LORI STURDEVANT TRUSTEE - 2ND VICE CHAIR 1.00 X X 0 0 0 LARRY SHRYOCK TRUSTEE - TREASURER 1.00 X X 0 0 0 PETER BIRKEY TRUSTEE - SECRETARY 1.00 X X 0 0 0 WALE ADEOSUN TRUSTEE 1.00 X 0 0 0 ALAN ANDERSON TRUSTEE 1.00 X 0 0 0 DARRYL BANKS TRUSTEE 1.00 X 0 0 0 KEVIN BUCKNER TRUSTEE 1.00 X 0 0 0 J DAVID CARSON TRUSTEE 1.00 X 0 0 0 STEVEN CAVES TRUSTEE 1.00 X 0 0 0 ROBERT CHIUSANO TRUSTEE 1.00 X 0 0 0 CHARLES DAVIS TRUSTEE 1.00 X 0 0 0 DOUG EDEN TRUSTEE 1.00 X 0 0 0 SAM FREITAG TRUSTEE 1.00 X 0 0 0 CHRIS GALLOWAY TRUSTEE 1.00 X 0 0 0 DAVID GEHRING TRUSTEE 1.00 X 0 0 0 DENNIS GREENSPON TRUSTEE 1.00 X 0 0 0 GENE HENDERSON TRUSTEE 1.00 X 0 0 0 KENT HERINK TRUSTEE 1.00 X 0 0 0 SHIRLEY HUGHES TRUSTEE 1.00 X 0 0 0 MARY JEANNE KROB TRUSTEE 1.00 X 0 0 0 MARY JORGENSON TRUSTEE 1.00 X 0 0 0 STEVEN KLINE TRUSTEE 1.00 X 0 0 0 KRISTIN LENZ TRUSTEE 1.00 X 0 0 0 DAVE LUSSON TRUSTEE 1.00 X 0 0 0 JULIE MCLEAN TRUSTEE 1.00 X 0 0 0 CURT MENEFEE TRUSTEE 1.00 X 0 0 0 PAUL MEYER TRUSTEE 1.00 X 0 0 0 SUMIT NIJHAWAN TRUSTEE 1.00 X 0 0 0 BRETT RULE TRUSTEE 1.00 X 0 0 0 TIM SAGERS TRUSTEE 1.00 X 0 0 0 WILLIAM SCHALK TRUSTEE 1.00 X 0 0 0 KRISTIN STROHM TRUSTEE 1.00 X 0 0 0 CRAIG STRUVE TRUSTEE 1.00 X 0 0 0 CARSON VEACH TRUSTEE 1.00 X 0 0 0 ED WALSH TRUSTEE 1.00 X 0 0 0 1887482 0 242088 11 1 1 0 SODEXO INC 9801 WASHINGTON BLVD GAITHERSBURG MD 20878 FOOD SERVICE 2563619 EAB GLOBAL INC 2445 M ST NW WASHINGTON DC 20037 MARKETING 350642 CEDAR GRAPHICS INC 311 PARSONS DR HIAWATHA IA 52233 PRINTING SERVICES 232263 RSM US LLP 201 1ST ST SE STE 800 CEDAR RAPIDS IA 52401 ACCOUNTING SERVICES 156783 JOHNSON CONTROLS 1351 60TH ST NE CEDAR RAPIDS IA 52402 HVAC 130549 10 324339 1852899 8950147 640511 11127385 STUDENT TUITION/FEES 611600 60945514 60945514 AUXILIARY ENTERPRISES 611600 9859936 9859936 MISC FEES & CHARGE 611710 562092 562092 71367542 1823846 1823846 24369530 25803298 -1433768 -1433768 -1433768 82885005 71367542 0 390078 41988167 41988167 1275450 1122915 152535 160695 160695 15950999 14459369 1244565 247065 1011449 843648 152841 14960 1994597 1657308 277269 60020 1267933 1183222 66411 18300 38199 38199 185225 185225 243242 243242 1007398 698384 285382 23632 87417 1694 84144 1579 1801511 1259869 422821 118821 2054645 2054645 502355 376048 87833 38474 946184 903138 43046 3488618 3377317 111301 183557 171037 12520 FACILITIES OPERATIONS 4888939 4731101 157838 INSTRUCTIONAL EXPENSE 3265063 2607857 657206 RECRUITING 527063 526718 345 REPAIRS & MAINTENANCE 417047 406406 10641 526404 165446 360958 83812157 77411374 5725397 675386 8260677 7829779 3765951 2475407 949327 1604329 935805 965467 126235913 51913184 76019339 74322729 61534065 63214745 4214513 3675913 6464966 5654144 27709823 27408877 189854466 187151390 4406986 4992467 255939 541472 33297855 30982041 398750 181252 14268114 15374233 52627644 52071465 X 28572336 38312242 108654486 96767683 137226822 135079925 189854466 187151390 X -927152 1028602 -2248347 X X 0 1 X 1 1 1 X 8434379 8060653 8421567 6926021 11127385 42970005 8434379 8060653 8421567 6926021 11127385 42970005 4127460 38842545 1667119 1585928 1720573 3680698 1823846 10478164 5256 5863 11119 53459288 332383840 0.72660 0.75460 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 6485483 8175000 X X X X 0 86242553 4073242 1068957 1568898 3315672 86500182 85444005 2259429 3456830 1593358 3324353 86242553 85612552 1406925 4053599 1587597 4041474 85444005 83207839 908062 8252950 1492916 5263383 85612552 87248399 2472911 80765 1446748 5147488 83207839 0.00650 0.93150 0.06200 1 0 14007518 14007518 95234266 37137514 58096752 2262503 2104395 158108 13849908 12671275 1178633 881718 881718 74322729 ACCRUED INTEREST RECEIVABLE 767101 ARTWORK 14660483 CASH VALUE OF LIFE INSURANCE 1162934 REAL EST, LAND & MNRL RIGHTS 1675002 TRUST AGREEMENTS 9143357 27408877 DUE TO US GOVT-PERKINS LOAN 4668005 ANNUITY PAYABLE 748128 DEPOSITS HELD ON BEHALF OTHERS 473060 LIABILITY TO LIFE INCOME BENEFICIARIES 808869 ACCRUED PENSION COST 1668793 OTHER LIABILITY 4400 STATE OF IOWA ENERGY LOAN 2318932 CAPITAL LEASES 216893 LINE OF CREDIT 1000000 ACCRUED LOSS ON INTEREST RATE SWAPS 3467153 15374233 X 41682198 1028602 1028602 40653596 243242 41988167 42231409 82885005 41580748 0 41580748 243242 41988167 42231409 83812157 PART III, LINE 4: THE COMMITTEE ON THE PERMANENT COLLECTION OF ART SHALL DETERMINE IF THE PROPOSED GIFT OF ARTWORK IS SUITABLE FOR ACCEPTANCE BY CONSIDERING WHETHER THE FOLLOWING CONDITIONS HAVE BEEN MET: THE ARTWORK FURTHERS THE MISSION OF COE COLLEGE. THE ARTWORK IS COMPATIBLE WITH OR COMPLEMENTARY TO THE CURRENT ART COLLECTION. THE DONOR HAS VALID OWNERSHIP OF THE ARTWORK, AND IS FREE TO CONVEY THE WORK. THERE ARE NO UNTENABLE RESTRICTIONS, RESERVATIONS OR LIMITATIONS PLACED ON THE ARTWORK OR ITS DISPLAY. THE COSTS FOR RESTORATION, MAINTENANCE AND INSURANCE ARE REASONABLE AND APPROPRIATE. THE COMMITTEE ON THE PERMANENT COLLECTION OF ART PROVIDES THE PRESIDENT WITH A RECOMMENDATION FOR ACCEPTANCE OR REFUSAL. PART V, LINE 4: THE COE COLLEGE ENDOWMENT FUND HAS BEEN ESTABLISHED BY THE BOARD OF TRUSTEES AS AN INVESTMENT PORTFOLIO FOR THE ASSETS CONTRIBUTED BY DONORS FOR THE CONTINUING SUPPORT OF THE COLLEGE AND OTHER DONOR DESIGNATED PURPOSES. THE DEVELOPMENT AND EXPANSION OF THIS FUND IS AN IMPORTANT PART OF THE COLLEGE'S OBJECTIVES FOR MAINTAINING QUALITY IN FACULTY, STUDENTS AND FACILITIES. THE FUND IS COMPRISED OF PERMANENT AND TEMPORARILY RESTRICTED ENDOWMENT ASSETS. ALL ENDOWMENT INCOME SUPPORTS THE COLLEGE OPERATIONS AND PROVIDES SCHOLARSHIPS FOR STUDENTS. PART X, LINE 2: THE COLLEGE IS RECOGNIZED AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE COLLEGE MAY BE SUBJECT TO FEDERAL AND STATE INCOME TAXES ON ANY NET INCOME FROM UNRELATED BUSINESS ACTIVITIES. THE COLLEGE FILES A FORM 990 (RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX) ANNUALLY AND UNRELATED BUSINESS INCOME (UBI) IS REPORTED ON FORM 990-T, AS APPROPRIATE. MANAGEMENT HAS EVALUATED THEIR MATERIAL TAX POSITIONS, WHICH INCLUDE SUCH MATTERS AS THE TAX EXEMPT STATUS AND VARIOUS POSITIONS RELATIVE TO POTENTIAL SOURCES OF UBI. AS OF JUNE 30, 2020 AND 2019, THERE WERE NO UNCERTAIN TAX BENEFITS IDENTIFIED AND RECORDED AS A LIABLITY. PART XI, LINE 4B - OTHER ADJUSTMENTS: COLLEGE AWARDED FINANCIAL AID 41,988,167. PART XII, LINE 4B - OTHER ADJUSTMENTS: COLLEGE AWARDED FINANCIAL AID 41,988,167. 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 RACIALLY NONDISCRIMINATORY POLICY IS PROVIDED THROUGH NEWSPAPER AND BROADCAST MEDIA SOLICITATION. IN ADDITION, IT IS PROVIDED IN ALL ADMISSION PUBLICATIONS, COLLEGE WEBSITE AND THE COLLEGE HANDBOOK. SCHEDULE E, PART I, LINE 6 COE COLLEGE RECEIVES FEDERAL AND STATE FINANCIAL AID AND GRANTS. EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICE STUDY ABROAD 64740 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICE STUDY ABROAD 28112 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICE STUDY ABROAD 2000 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 1904000 0 0 0 0 0 0 1998852 0 1998852 1 0 0 0 1 0 PART III ACCOUNTING METHOD: 1 ENDOWED PRIZES 50 25334 0 N/A N/A GIFT PRIZES 2 2999 0 N/A N/A GIFT SCHOLARSHIPS 51 115548 0 N/A N/A ENDOWED SCHOLARSHIPS 463 1557476 0 N/A N/A GENERAL SCHOLARSHIPS 1371 38743976 0 N/A N/A OTHER GRANTS 463 1542834 0 N/A N/A PART I, LINE 2: COE COLLEGE RECEIVES VARIOUS FEDERAL GRANTS FROM NSF, DEPT OF EDUCATION AND OTHER AGENCIES OR BRANCHES OF THE US GOVERNMENT. SEPARATE ACCOUNTS ARE USED FOR EACH GRANT TO MONITOR RECEIPTS AND DISBURSEMENTS. THE COLLEGE FOLLOWS APPROPRIATE ACCOUNTING AND INTERNAL CONTROL PROCEDURES. ALL REQUIRED FINANCIAL REPORTING TO THE GRANT PROVIDER ARE COMPLETED TIMELY AND AUDITS BY AN INDEPENDENT CPA FIRM ARE DONE WHEN REQUIRED. THE COLLEGE ANNUALLY COMPLETES FILINGS REQUIRED BY UNIFORM GUIDANCE. DISTRIBUTIONS TO STUDENTS ARE MADE ACCORDING TO GRANT REQUIREMENTS. X X 1 1 X X X 1 0 0 0 0 0 0 0 0 DAVID MCINALLY TRUSTEE - PRESIDENT 335166 0 0 0 12519 0 19600 0 16429 0 383714 0 0 0 MICHAEL WHITE FORMER EXECUTIVE VICE PRESIDENT 194478 0 0 0 75390 0 7020 0 16682 0 293570 0 75000 0 PAULA O'LOUGHLIN PROVOST & DEAN OF THE FACULTY 157074 0 0 0 315 0 11424 0 16371 0 185184 0 0 0 DAVID HAYES VP FOR ADVANCEMENT - ASST SECY 155538 0 0 0 7531 0 10771 0 9701 0 183541 0 0 0 JULIE STAKER VP FOR ENROLLMENT, MKTG & INST. 150022 0 0 0 5446 0 10710 0 8670 0 174848 0 0 0 LARRY LEE VP FOR FINANCE & ADMINISTRATION 125765 0 0 0 413 0 9100 0 19169 0 154447 0 0 0 MARIO AFFATIGATO PROFESSOR OF PHYSICS, ASST TO PRES 139557 0 0 0 155 0 7378 0 6880 0 153970 0 0 0 PART I, LINE 1A EMPLOYMENT AGREEMENT STATES COE COLLEGE REQUIRES THAT ITS PRESIDENT LIVE IN A PRESIDENT'S HOUSE OR MANSE OWNED BY THE COLLEGE BECAUSE OF ITS REQUIREMENT THAT THE PRESIDENT CONDUCT SIGNIFICANT BUSINESS ACTIVITIES AND REGULARLY HOST COLLEGE RELATED EVENTS AND ENTERTAINMENT ON COLLEGE PROPERTY. THE PRESIDENT IS REQUIRED TO MAINTAIN AN OFFICE AT THE MANSE IN ORDER FOR HIM TO BE AVAILABLE TO ATTEND TO THE RESPONSIBILITIES OF HIS OFFICE AND THE BUSINESS OF THE COLLEGE AT ALL TIMES, AS IT IS NOT PRACTICAL FOR HIM TO DISCHARGE HIS DUTIES AS PRESIDENT SOLELY FROM HIS OFFICE ON THE CAMPUS, BECAUSE HIS RESPONSIBILITIES OFTEN REQUIRE THAT HE WORK OUTSIDE NORMAL BUSINESS HOURS AND THAT HE NEEDS TO BE ABLE TO ADDRESS ANY COLLEGE RELATED EMERGENCIES THAT MAY ARISE OUTSIDE OF NORMAL BUSINESS HOURS. IN ADDITION, THE SPACE AND OTHER REQUIREMENTS ASSOCIATED WITH THE CONDUCT OF LARGE STUDENT AND ALUMNI EVENTS AND OTHER FUNCTIONS FOR FRIENDS OF THE COLLEGE REQUIRE A RESIDENCE OF THE SIZE AND LOCATION OF THE MANSE. THE RESIDENCE LOCATED AT 370 34TH STREET SE, CEDAR RAPIDS, IOWA, WHICH IS OWNED BY THE COLLEGE, IS DESIGNATED THE OFFICIAL COLLEGE MANOR. THE PRESIDENT'S EMPLOYMENT AGREEMENT REQUIRES COE COLLEGE TO PAY ALL INSURANCE COSTS, UTILITIES AND MAINTENANCE EXPENSES RESULTING FROM THE PRESIDENT'S RESIDING IN THE MANSE, AND OBLIGATES THE PRESIDENT TO PAY THE COSTS OF ORDINARY DAY-TO-DAY LIVING EXPENSES OF LIVING IN THE MANSE, INCLUDING, WITHOUT LIMITATION, LAWN CARE AND SNOW REMOVAL (EXCEPT WHEN ASSOCIATED WITH A COLLEGE-RELATED EVENT), LAUNDRY AND CLEANING SUPPLIES, AND TELEVISION, INTERNET AND TELEPHONE SERVICES. EXPENSES RELATING TO THE MANSE IN THE 2019 FISCAL YEAR WERE ALLOCATED AND PAID IN ACCORDANCE WITH THE EMPLOYMENT AGREEMENT AND ORDINARY LIVING EXPENSES PAID BY THE COLLEGE WERE INCLUDED IN THE PRESIDENT'S TAXABLE COMPENSATION. COUNTRY CLUB DUES ARE INCLUDED IN TAXABLE INCOME ON W-2S. PART I, LINE 4A MICHAEL WHITE RECEIVED MONTHLY SEVERANCE PAYMENTS FROM JULY THROUGH DECEMBER, 2019 OF $12,500, FOR A TOTAL OF $75,000 IN CALENDAR YEAR 2019. A IOWA FINANCE AUTHORITY 521699886 000000000 2016-06-28 41833715 SEE PART VI 0 0 0 A 10016313 40604649 100000 19376934 21127715 1 0 1 1 A 0 0 1 1 0 0.00560 0.00000 0.00560 0 0 1 A 0 0 1 1 1 1 SEE PART VI 0 0 0 0 1 A 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: IOWA FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 12/31/2017 PART I, COLUMN F - REFUND PRIOR ISSUES (06/08/07), (07/22/09), (08/05/11), (05/30/12), (04/17/16), CONSTRUCTION/RENOVATION. PART II, LINE 3 - THE TOTAL PROCEEDS DO NOT AGREE TO THE ISSUE PRICE IN PART I, COLUMN (E) AS THIS DEBT WAS ISSUED ON A DRAW-DOWN BASIS AND THE TOTAL PRINCIPAL DRAWN DOWN WAS LESS THAN THE AMOUNT AVAILABLE. THE REMAINING PRINCIPAL WILL NOT BE DRAWN. PART IV, LINE 2C - NOTE REGARDING THE REBATE COMPUTATION: A PORTION OF THE BOND PROCEEDS MET A SPENDING EXCEPTION AND A PORTION OF THE PROCEEDS WERE ISSUED ON A DRAW-DOWN BASIS AND AMOUNTS WERE DRAWN AS PROJECT COSTS WERE INCURRED. AS NO REBATABLE ARBITRAGE WAS EARNED AND THE DEBT SERVICE FUND WAS OPERATED ON A BONA FIDE BASIS, NO FURTHER REBATE ANALYSIS IS NECESSARY. PART IV, LINE 4B AND 4C - U.S. BANK N.A., 9.3 YEARS, AND U.S. BANK N.A., 9.9 YEARS. X 25 640511 STOCK EXCHANGE 0 0 1 0 PART I, COLUMN (B): COE COLLEGE IS REPORTING THE NUMBER OF CONTRIBUTIONS FORM 990, PAGE 2, PART III ORGANIZATION MISSION: IT IS THE MISSION OF COE COLLEGE TO PROVIDE STUDENTS AN EDUCATION OF SUPERIOR QUALITY THAT AIMS AT PREPARING THEM FOR LIFE FOLLOWING GRADUATION. OUR REASON TO EXIST AS AN INSTITUTION IS TO READY STUDENTS INTELLECTUALLY, PROFESSIONALLY, AND SOCIALLY TO LEAD PRODUCTIVE AND SATISFYING LIVES IN THE GLOBAL SOCIETY OF THE 21ST CENTURY. AS SUCH, OUR SUCCESS AS A COLLEGE IS MEASURED ACCORDING TO THE SUCCESS OF OUR GRADUATES. WE BELIEVE THAT A LIBERAL ARTS EDUCATION IS THE BEST PREPARATION FOR LIFE. WE BELIEVE THAT SUCH AN EDUCATION ALLOWS STUDENTS TO DISCOVER WHAT THEIR REAL TALENTS AND INTERESTS ARE, AND THAT IT DEVELOPS IN THEM THE SKILLS, ABILITIES, AND HABITS OF MIND THAT WILL MAKE POSSIBLE A SUCCESSFUL CAREER IN ANY FIELD OF ENDEAVOR, INCLUDING ONES THAT DO NOT YET EXIST. INDEED, WE BELIEVE THAT WHAT DEFINES A LIBERAL ARTS EDUCATION IS ITS FOCUS ON CULTIVATING IN STUDENTS CERTAIN FUNDAMENTAL ABILITIES: THE ABILITY TO THINK LOGICALLY AND ANALYTICALLY; THE ABILITY TO COMMUNICATE CLEARLY, BOTH IN WRITING AND SPEAKING; THE ABILITY TO USE EFFECTIVELY COMPUTER TECHNOLOGY; THE ABILITY TO WORK PRODUCTIVELY AS A MEMBER OF A GROUP SEEKING TO ACHIEVE A COMMON OBJECTIVE; THE ABILITY TO MAKE INFORMED JUDGMENTS, WHETHER IN THE REALM OF ETHICAL BEHAVIOR OR IN THAT OF AESTHETIC APPRECIATION; THE ABILITY TO FOSTER AND SUSTAIN AN ATTITUDE OF INTELLECTUAL CURIOSITY AND CREATIVITY; AND THE ABILITY TO RECOGNIZE AND HONOR TRUE EXCELLENCE WHEN FOUND IN ANY FORM OR CONTEXT. FURTHERMORE, WE BELIEVE THAT IT IS IMPORTANT FOR A LIBERAL ARTS EDUCATION TO CULTIVATE IN STUDENTS A DESIRE TO UNDERSTAND, A CAPACITY FOR TOLERANCE, AND AN ABILITY TO APPRECIATE THE ETHNIC AND CULTURAL DIVERSITY THAT MAKE UP HUMAN KIND. IT IS THE MISSION OF THE COLLEGE TO DEVELOP IN STUDENTS THESE ABILITIES AND ATTITUDES, AND IN SO DOING TO PROVIDE THEM AN EDUCATION THAT DIRECTS THEM TOWARD A MEANINGFUL AND SUCCESSFUL LIFE. COE'S ACADEMIC PROGRAM REFLECTS A COMMITMENT TO DEVELOPING THESE ABILITIES BY ITS INSISTENCE THAT STUDENTS ACQUIRE CERTAIN EDUCATIONAL EXPERIENCES. WE REQUIRE THAT STUDENTS COMPLETE BOTH OUR GENERAL EDUCATION REQUIREMENTS, WHICH ENSURE BREADTH OF LEARNING, AND OUR REQUIREMENTS FOR A MAJOR; WHICH GUARANTEE DEPTH OF KNOWLEDGE IN A PARTICULAR FIELD. IN ADDITION, AS PART OF EACH STUDENT'S EDUCATION, A SERIES OF INTENSIVE WRITING EXPERIENCES, SPREAD ACROSS THE FOUR YEARS OF STUDY, IS REQUIRED. BEYOND THESE REQUIREMENTS, STUDENTS ARE ENCOURAGED TO BEGIN PLANNING FOR THEIR LIVES AFTER COLLEGE EARLY ON IN THEIR UNDERGRADUATE CAREERS, AND, THROUGH CAREFUL ADVISING, THEY ARE GIVEN GUIDANCE AND DIRECTION IN THIS ENDEAVOR. INDEED, THE DEFINING FEATURE OF A COE EDUCATION IS THE REQUIREMENT THAT EVERY STUDENT PLAN AND PARTICIPATE IN ONE OF THE FOLLOWING: A SIGNIFICANT EXPERIENTIAL PROJECT, SUCH AS AN INTERNSHIP; A MAJOR SCHOLARLY UNDERTAKING; OR STUDY ABROAD. THESE EXPERIENCES WILL OFTEN, THOUGH NOT INVARIABLY, OCCUR DURING THE JUNIOR YEAR. THE HALLMARK OF A COE EDUCATION IS OUR ATTENTION TO EACH STUDENT AS AN INDIVIDUAL. IT IS ALSO IMPORTANT THAT THE COLLEGE ENVIRONMENT AT COE REFLECTS OUR COMMITMENT TO A DIVERSE STUDENT BODY AND OVERALL COLLEGE COMMUNITY. WE BELIEVE THAT THROUGH LISTENING CAREFULLY TO EACH STUDENT AS HIS OR HER INTERESTS AND UNIQUE TALENTS ARE FORMED, AND THROUGH TAILORING AN ACADEMIC PROGRAM TO SUIT EACH STUDENT'S FUTURE, WE HELP THAT STUDENT DEVELOP ABILITIES THAT PROVIDE THE BEST PREPARATION FOR LIFE. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE OF THE BOARD AS BEEN GIVEN AUTHORIZATION BY THE BOARD OF TRUSTEES TO ACT ON SUCH MATTERS AS SETTING COMPREHENSIVE FEES, AUTHORIZING PURCHASES AND ACQUISITIONS OF PROPERTY AND, REVIEWING APPROPRIATE INSURANCE COVERAGE. ALL ITEMS THAT THE EXECUTIVE COMMITTEE HAS AUTHORIZED ARE SUBSEQUENTLY APPROVED BY CONSENT AGENDA OF THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE COLLEGE'S AUDIT & COMPLIANCE COMMITTEE OF THE BOARD OF TRUSTEES CONDUCTS A THOROUGH REVIEW OF EACH FORM 990 FILED BY THE COLLEGE PRIOR TO BEING FILED WITH THE IRS. THE COMMITTEE RECEIVES THE RETURNS FROM THE PAID PREPARER, RSM US, LLP. THE COMMITTEE AND A REPRESENTATIVE FROM RSM REVIEW THE RETURNS TOGETHER. ALL MEMBERS OF THE BOARD OF TRUSTEES ARE ADVISED OF THE REVIEW OF EACH FORM 990 BY THE AUDIT & COMPLIANCE COMMITTEE. EACH MEMBER OF THE BOARD OF TRUSTEES RECEIVES AN EMAIL (1) PROVIDING THE TRUSTEE WITH ACCESS TO A COMPLETE COPY OF THE RETURNS THROUGH A WEBSITE ACCESSIBLE TO THE TRUSTEES AND (2) INFORMING EACH TRUSTEE THAT THE RETURNS ARE AVAILABLE FOR FURTHER REVIEW BY ANY BOARD MEMBER AND THAT THE RETURNS WILL BE FILED BY THE DUE DATE. FORM 990, PART VI, SECTION B, LINE 12C THE COLLEGE REQUIRES ALL TRUSTEES, OFFICERS, KEY EMPLOYEES AND SUBSTANTIAL CONTRIBUTORS TO ANNUALLY COMPLETE THE CONFLICT OF INTEREST QUESTIONNAIRE CONCERNING TRANSACTIONS WITH COE COLLEGE. THE CHIEF FINANCIAL OFFICER FOR THE COLLEGE RECEIVES COMPLETED QUESTIONNAIRES AND REVIEWS AND SUBMITS COMMENTS AND FINDINGS TO THE PRESIDENT OF THE COLLEGE AND THE CHAIRMAN OF THE BOARD OF TRUSTEES. THE CHAIRMAN OF THE BOARD THEN REVIEWS AND INFORMS THE FULL BOARD OF ANY ISSUES OR ACTIONS REQUIRED INCLUDING MONITORING WITH AN OVERSIGHT COMMITTEE IF NECESSARY. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION FOR THE PRESIDENT IS REVIEWED AND DETERMINED BY THE BOARD OF TRUSTEES COMPENSATION COMMITTEE. THE COMMITTEE CONSIDERS THE PRESIDENT ON HIS MERITS, LENGTH OF SERVICE AND JOB RESPONSIBILITIES. THE PRESIDENT'S COMPENSATION IS THEN COMPARED TO SIMILAR POSITIONS AT OTHER COLLEGES USING SURVEYS AND BENCHMARKS FROM THE ACM (ASSOCIATED COLLEGES OF THE MIDWEST), IAICU (IOWA ASSOCIATION OF INDEPENDENT COLLEGES & UNIVERSITIES) AND OTHER IDENTIFIED COMPARISON GROUPS. THE COMMITTEE THEN REPORTS TO THE BOARD OF TRUSTEES THEIR DUE DILIGENCE THAT WAS PERFORMED AND DOCUMENTS THE REVIEW. THE DOCUMENTATION REGARDING THE COMPENSATION REVIEW IS RETURNED TO THE COLLEGE'S LEGAL COUNSEL FOR SAFEKEEPING. FORM 990, PART VI, SECTION B, LINE 15B: THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES EVALUATES SPECIFIC COMPENSATION RELATED ISSUES FOR OTHER OFFICERS AND KEY EMPLOYEES WHEN REFERRED TO IT BY THE PRESIDENT. DECISIONS REGARDING THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES ARE OTHERWISE MADE BY THE PRESIDENT, WITH THE INVOLVEMENT OF THE HUMAN RESOURCES DEPARTMENT AND SENIOR LEADERSHIP, TAKING INTO CONSIDERATION JOB RESPONSIBILITIES, PERFORMANCE AND A REVIEW OF COMPENSATION DATA FOR SIMILAR POSITIONS AT IDENTIFIED COMPARISON GROUPS OF OTHER COLLEGES. SUCH COMPENSATION DECISIONS ARE FULLY DOCUMENTED AND COMMUNICATED IN ANNUAL PERFORMANCE REVIEWS. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENT ARE NOT MADE AVAILABLE TO THE PUBLIC. THE COLLEGE DOES FILE VARIOUS REQUIRED REPORTS SUCH AS THE A-133 AND AUDITED FINANCIAL STATEMENTS WITH VARIOUS GOVERNMENTAL AGENCIES AND AUTHORITIES WHICH MAY THEN BECOME PUBLIC RECORD. THE IRS FORM 990 FILED BY COE COLLEGE IS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VII SALARY EXPLANATION: KIM PRIBYL'S COMPENSATION LISTED IS FOR POSITION AS EMPLOYEE OF COE COLLEGE NOT FOR POSITION AS ASSISTANT SECRETARY OF BOARD. SHE IS A 40 HOUR PER WEEK EMPLOYEE OF THE COLLEGE. FORM 990, PART XI, LINE 9: ADJUSTMENT FOR FACULTY RETIREMENT PLAN 80,652. CHANGE IN FMV - INTEREST RATE SWAP -2,285,485. CHANGE IN ANNUITY & LIFE AGREEMENTS -43,514. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED SINCE PRIOR TAX YEARS. K RAYMOND CLARK CHARITABLE TRUST 1220 FIRST AVE NE CEDAR RAPIDS IA 52402 396787527 SUPPORTING TRUST IA 501(C)(3) 11A COE COLLEGE 1 K RAYMOND CLARK ATHLETIC FACILTIES TRUST 1220 FIRST AVE NE CEDAR RAPIDS IA 52402 396787027 SUPPORTING TRUST IA 501(C)(3) 11A COE COLLEGE 1 K RAYMOND CLARK ALUMNI CENTER TRUST 1220 FIRST AVE NE CEDAR RAPIDS IA 52402 396787028 SUPPORTING TRUST IA 501(C)(3) 11A COE COLLEGE 1 K RAYMOND CLARK RACQUET CENTER TRUST 1220 FIRST AVE NE CEDAR RAPIDS IA 52402 396787026 SUPPORTING TRUST IA 501(C)(3) 11A COE COLLEGE 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 K RAYMOND CLARK ALUMNI CENTER TRUST C 61125 ACTUAL K RAYMOND CLARK ALUMNI CENTER TRUST Q 26927 ACTUAL K RAYMOND CLARK ATHLETIC FACILITIES C 160031 ACTUAL K RAYMOND CLARK RACQUET CENTER TRUST C 103183 ACTUAL K RAYMOND CLARK RACQUET CENTER TRUST Q 205712 ACTUAL