2021-04-15T21:56:48-04:00 2020-05-31 Bellarmine University 2001 Newburg Road Louisville KY 40205 990 2019-06-01 610482955 Bellarmine University Incorporated BELL 5022728261 2001 Newburg Rd Louisville KY 40205 Robert L Zimlich VP for Finance and Admin 5022728263 2021-04-15 false Mary Brown-Cornelius XXX-XX-XXXX 5022728261 2021-04-15 2019 2022-09-23 18:48:47Z Bellarmine University Robert Zimlich 2001 Newburg Rd Louisville KY 40205 147074851 false X www.bellarmine.edu X 1950 Post secondary education 32 32 1786 287 0 -13677 6203101 11959439 128213397 126890521 3685197 2886121 1669339 1372532 139771034 143108613 60605905 62151569 0 0 49767118 49274294 0 2263211 26934916 27227098 137307939 138652961 2463095 4455652 221456711 224151602 89444093 87733201 132012618 136418401 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. false true 92770053 60664391 114765204 Instruction. 2553 students in undergraduate classes. 722 students in graduate classes. 917 students graduated in 2019 2020 academic school year 8035048 6234559 18680587 5890758 1308201 0 1244361 Other Program Services including Academic Support, Library and Technology Services 1308201 1244361 120793889 true true false false false false false true false true true true false true true true true false true false false false false false true false false false true true true false false false false false false false true true true true false false false false true false false false true 431 0 true 1786 true false false false false false true true false false false false false false false false X 32 32 true false false false false false false true true false false true true true true true true true true false AK WA MA NH KY X X Robert Zimlich 5022728261 2001 Newburg Rd Louisville KY 40205 Francis Raymond Interim Dean of School of Business 40 X 161504 12633 Daniel Bauer Professor 40 X 170191 15209 Scott Davenport Head Coach Men's Basketball 40 X 245400 16408 Paul Gore Provost 40 X 127349 6737 Helen Grace Ryan VP Student Affairs 40 X 171833 5645 Sean Ryan Senior VP 40 X 234438 24074 Mike Marshall VP Enrollment, marketing, and Communications 40 X 121695 8588 Glenn Kosse VP Development and Alumni Relations 40 X 212675 35841 Robert Zimlich VP Administration and Finance 40 X 227209 43443 Susan Donovan President 40 X 588935 25654 Elizabeth Payne Professor 40 X 166662 10903 Mark Wiegand Vice Provost 40 X 163329 0 11292 James Allen Trustee 2 X 0 0 0 Marian Swope Trustee 2 X 0 0 0 Leonard Spalding Trustee 2 X 0 0 0 Frank Schmidt Trustee 2 X 0 0 0 T William Samuels Trustee 2 X 0 0 0 Brad Ray Trustee 2 X 0 0 0 Janet Peterworth Trustee 2 X 0 0 0 Patrick Mulloy Trustee 2 X 0 0 0 Stephen Mullins Trustee 2 X 0 0 0 William Mudd Trustee 2 X 0 0 0 Libbye Montgomery Trustee 2 X 0 0 0 Ernest Marshall Trustee 2 X 0 0 0 Michael Mackin Trustee 2 X 0 0 0 Donald Kelly Trustee 2 X 0 0 0 Michael Hobbs Trustee 2 X 0 0 0 David Heintzman Trustee 2 X 0 0 0 Craig Grant Trustee 2 X 0 0 0 C Edward Glasscock Trustee 2 X 0 0 0 Jesse Flynn Trustee 2 X 0 0 0 Barry Fields Trustee 2 X 0 0 0 Sharon Des Jarlais Trustee 2 X 0 0 0 Russell Cox Trustee 2 X 0 0 0 J D Whyte Trustee 2 X 0 0 0 Steve Trager Trustee 2 X 0 0 0 Matt Thornton Trustee 2 X 0 0 0 Tom Thomas Trustee 2 X 0 0 0 Larry Benz Trustee 2 X 0 0 0 Donald Berg Trustee 2 X 0 0 0 2591220 0 216427 true true false SODEXO 2001 NEWBURG RD Louisville KY 40205 FOOD SERVICES 4388292 FACILITIES MANAGEMENT SERVICES 4400 BISHOP LN Louisville KY 40218 CLEANING SERVICE 1297963 CLARK AND RIGGS PRINTING 1705 W JEFFERSON ST Louisville KY 40203 PRINTING SERVICES 535842 COLLEGIS LLC 1415 22ND ST STE 220 Louisville KY 40218 HIGHER ED CONSULTANT 432200 GOOGLE INC 1800 AMPHITHEATRE PARKWAY Mountain View CA 94040 ADVERTISING SERVICES 391047 36 161729 2673465 9124245 11959439 TUITION AND FEES 900099 114765204 114765204 HOUSING 900099 4578310 4578310 FOOD SERVICE 900099 1521556 1521556 CAMPUS STORE 900099 121249 121249 MEMBERSHIP DUES 900099 13444 13444 5890758 5890758 126890521 2264214 2264214 134729 134729 202485 77225 125260 0 125260 125260 4147307 10812 3670941 476366 10812 487178 487178 205160 205160 205160 0 0 15823 12912 2911 2911 ATHLETIC REVENUE 711210 363214 363214 SPORTS CAMP 713990 343362 343362 OTHER 531390 458134 458134 79651 79651 1244361 143108613 128134882 0 3014292 62151569 62151569 2198654 725987 944448 528219 37574355 30269349 6276604 1028402 905336 720548 158448 26340 5903498 4449254 1298775 155469 2692451 2128785 481051 82615 147092 27952 117390 1750 54770 54770 2364431 1147027 1167554 49850 1694344 1164441 525558 4345 3190095 2586627 472119 131349 1758450 773302 938412 46736 2019339 902349 1116990 1577326 1408103 133796 35427 172741 107905 53210 11626 3219420 3124450 94970 5156867 4861135 295732 523866 270824 253042 MEALS 942707 723969 188411 30327 PLANT 829339 231669 597670 CLASSROOM SUPPLIES 650872 650137 735 MEMBERSHIP AND DUES 754289 482974 258952 12363 2171150 1885533 167224 118393 138652961 120793889 15595861 2263211 5470 6368 12670054 16578748 4196086 6142601 5038436 5457381 93019 89946 1265535 1320334 197762826 78552940 121957176 119209886 49252350 49031723 11535570 10871600 15443015 15443015 221456711 224151602 3633117 2909067 5999506 7451659 75266640 73140339 4544830 4232136 89444093 87733201 132012618 136418401 221456711 224151602 4455652 -49869 X false true X true true true X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X false 0 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 52259548 1322729 -2484343 -1301537 741284 406319 48648794 0.33330 0.66670 0.00000 false false 5204537 5204537 135810096 47733101 88076995 0 31308318 12192768 19115550 25439875 18627071 6812804 119209886 F GLOBAL HEDGED EQUITY 4208047 F ABSOLUTE RETURN HEDGE 2211542 F DISTRESSED DEBT 236570 F PRIVATE EQUITY 2857450 F OTHER ASSETS 1274856 F CLOSELY HELD EQUITY INTERESTS 83135 F 10871600 0 ENDOWMENT - REAL ESTATE 15443015 15443015 LONG TERM CAPITAL LEASE 1946863 US ADVANCES FOR STUDENT LOANS 450535 ANNUITY OBLIGATION 1834738 4232136 X 81202472 -49869 295297 245428 80957044 62151569 62151569 143108613 76796689 295297 295297 76501392 62151569 62151569 138652961 PART III LINE 4 THE HISTORICAL TREASURES OF THE UNIVERSITY CONSIST OF OVER 50000 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 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 UNIVERSITYS 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 2017. PART XI LINE 2D RENTAL EXPENSES SPECIAL EVENTS AND COST OF GOOD SOLD equal 90137 and FUNDRAISING EXPENSE equal 205160 PART XI LINE 4B SCHOLARSHIPS AND DISCOUNTS equal 62151569 PART XII LINE 2D RENTAL EXPENSE SPECIAL EVENTS AND COST OF GOODS SOLD equal 90137 FUNDRAISING EXPENSE NETTED AGAINST REVENUE equals 205160 PART XII LINE 4B SCHOLARSHIPS AND DISCOUNTS NETTED AGAINST REVENUE equals 62151569 true true true true true true true false false false false false false false false true false true BELLARMINE UNIVERSITY PARTICIPATES IN THE FOLLOWING FINANCIAL AID PROGRAMS: LINE 6- EXPLANATION OF GOVERNMENT FINANCIAL AID: FEDERAL PELL GRANT PROGRAM, FEDERAL WORK-STUDY PROGRAM, FEDERAL SUPPLEMENTAL LINE 6- EXPLANATION CONTINUED: EDUCATIONAL OPPORTUNITY GRANT PROGRAM, FEDERAL PERKINS LOAN PROGRAM, FEDERAL LINE 6- EXPLANATION CONTINUED: DIRECT LOAN PROGRAM, FEDERAL DIRECT PLUS LOAN PROGRAM AND TEACHER EDUCATION LINE 6- EXPLANATION CONTINUED: ASSISTANCE FOR COLLEGE AND HIGHER EDUCATION GRANTS PROGRAM. THE UNIVERSITY LINE 6- EXPLANATION CONTINUED: COMPLIES WITH THE ANNUAL SINGLE AUDIT REQUIREMENTS, FILINGS WITH THE FEDERAL LINE 6- EXPLANATION CONTINUED: AUDITING CLEARINGHOUSE AND THE DEPARTMENT OF EDUCATION FILINGS. LINE 6- EXPLANATION CONTINUED: false 0 0 0 NIGHT OF KNIGHTS 204575 72521 132054 46660 72591 4977 7826 ALUM TRIVIA 42987 34828 8159 800 1800 5266 293 5 119327 54380 64947 11880 12413 14945 25709 366889 161729 205160 800 0 60340 90270 19922 33828 205160 0 false SCHOLARSHIPS AND DISCOUNTS 2509 62151569 0 FMV SCHEDULE I PART 1 LINE 2 SCHOLARSHIPS AND DISCOUNTS AWARDED TO STUDENTS ARE POSTED DIRECTLY TO EACH STUDENTS ACCOUNTS RECEIVABLE SUBSIDIARY ACCOUNT X X true true X X X X false false false false false false false true false false SUSAN DONOVAN PRESIDENT 414782 106750 67403 8400 17254 614589 0 SEAN RYAN SENIOR VP 224438 10000 7254 16820 258512 0 ROBERT ZIMLICH VP ADMIN AND FINANCE 227209 7140 36303 270652 0 GLENN KOSSE VP DEVELOPMENT 212675 6649 29192 248516 0 HELEN-GRACE RYAN VP STUDENT AFFAIRS 171833 5229 416 177478 0 PAUL GORE PROVOST 124646 2703 3750 2987 134086 0 MICHAEL MARSHALL VP ENROLLMENT & COMMUNICATION 106866 14829 3325 5263 130283 0 SCOTT DAVENPORT BASKETBALL COACH 207032 38368 6505 9903 261808 0 DANIEL BAUER PROFESSOR 169831 360 5380 9829 185400 0 ELIZABETH PAYNE PROFESSOR 166662 5100 5803 177565 0 MARK WIEGAND VICE PROVOST 162744 585 4950 6342 174621 0 FRANCIS RAYMOND INTERIM DEAN BUSINESS SCHOOL 161504 4909 7724 174137 0 PART I LINE 7 THE EXECUTIVE COMMITTEE REVIEWS THE PRESIDENTS 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 616001862 NoneAvail 2009-12-16 18500000 Capital Improvements true false false A Lou Jeff Co Metro Government 616001862 NoneAvail 2015-09-01 35405000 Refunding & Cap Improvement false false false A Lou Jeff Co Metro Government 616001862 NoneAvail 2017-11-29 41290000 Refunding false false false A false false false A 3555000 14945000 18310626 251401 92452 16648927 1317846 2011 false false true true B 4590000 36651770 2383860 455648 129667 10000145 23682400 50 2016 false true false true C 250000 42827391 4161280 242481 137929 38270960 14741 false true false true A false false false false false false 0.00000 true false false false B false false false false false false 0.00000 true false false false C false false false false false false 0.00000 true false false false false false false false false false 0.00000 false false false false A false false false true false false false false false false false false B false false false true false false false false false false false false C false false false true false false false false false false false false A false B false C false Schedule K All Bonds Bonds issued December 16,2009, September 2015 and November 29, 2017 - under the 2015 and 2009 indentures. 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, 2020 was $4,161,280 and $2,383,860 for the series 2017 and 2015 bonds respectively, and are reflected as plant funds on the statements of financial position. (A) Bond issued December 16, 2009: Louisville Jefferson County Metro Government In December 2009, the university issued $18,500,000 of Louisville/Jefferson County Metro Government, College Improvement Revenue Bonds, Series 2009 (Bellarmine University Incorporated Project) of which the majority was used to provide funds to build a 119 bed residence hall, to build a substantial addition to the main dining hall, renovate and expand the Cafe', and add 276 surface parking spaces on campus. The term of the bond issue is thirty years. (B) Bond issued 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. (C) 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. (A) Line 3A: Issue price (18,500,000) less net OID (258,902) plus investment earnings (69,528) equals total proceeds of issue (18,310,626). (B) Line 3B: Issue price (35,405,000) plus OIP (1,024,171) plus investment earnings (222,599) equals total proceeds of issue (36,651,770). (C) Line 3C: Issue price (41,290,000) plus OIP (1,157,105) plus investment earnings (380,286) equals total proceeds of issue (42,827,391). Schedule K, Part III, Private Business Use #9: The university is in the process of developing policies and procedures. Schedule K, Part IV, Arbitrage, Line 2C: The rebate computation was performed by Frost Brown Todd, PLLC Attorneys at Law. Schedule K, Part V, Procedures: The university is in the process of developing policies and procedures. 0 EDWARD GLASSCOCK CURRENT UNIVERSITY TRUSTEE 20861 LEGAL SERVICES false JESSE FLYNN CURRENT UNIVERSITY TRUSTEE 251898 OPERATING LEASE false SODEXO CONTRIBUTOR TO THE UNIVERSITY 355000 CAMPUS FOOD SERVICE false STEVE TRAGER CURRENT UNIVERSITY TRUSTEE 347215 CAPITAL LEASE false RUSSELL COX CURRENT UNIVERSITY TRUSTEE 241655 PROMOTIONAL ITEMS false X 1 1500 MARKET VALUE X 19 295164 MARKET VALUE X OTHER 4 37719 MARKET VALUE 0 false true false 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 SCHEDULE M LINE 32B cont 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 III LINE 4D OTHER PROGRAM SERVICES INCLUDE ACADEMIC SUPPORT, LIBRARY AND COMPUTER TECHNOLOGY SERVICES, AND SUPPORT FOR THE ACADEMIC DIVISIONS EXPENSES OF $1,308,201 INCLUDING GRANTS OF $0 AND REVENUE OF $0. FORM 990 PART VI SECTION A LINE 2 MR. STEVE TRAGER , CURRENT TRUSTEE, IS THE CEO OF REPUBLIC BANK AND TRUST CO. MR W PATRICK MULLOY, CURRENT TRUSTEE, IS A DIRECTOR AT REPUBLIC BANK AND TRUST. MR RUSS COX, CURRENT TRUSTEE, IS THE PRESIDENT AND CEO OF NORTON HEALTHCARE. 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 INTERNAL STAFF AND REVIEWED IN DETAIL BY THE ASSOCIATE VICE-PRESIDENT FOR BUSINESS AFFAIRS. THE AVP IS AN ATTORNEY AND CPA WITH 20+ YEARS OF TAX EXPERIENCE. THE REVIEW IS COMPLETED IN SEVERAL STAGES IN ORDER TO PROCESS ALL THE INFORMATION THOROUGHLY. 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 ADMINISTRATION AND FINANCE MONITORS THAT ALL MEMBERS RETURN A SIGNED COPY INDICATING THEY HAVE REVIEWED THE POLICY AND LISTED ANY POTENTIAL CONFLICTS. ADDITIONALLY, ALL EMPLOYEES RECEIVE A UNIVERSITY HANDBOOK AND SIGN 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 THE PRESIDENT ARE BOUND BY A CONTRACT. THE CONTRACT IS NEGOTITATED AND/OR EXTENDED BY THE PRESIDENTIAL CONTRACT AND COMPENSATION COMMITTEE OF THE BOARD WITH APPROVAL OF THE FULL BOARD OF TRUSTEES. FORM 990 PART VI SECTION B LINE 15 CONT 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. FORM 990 PART VI SECTION B LINE 15 CONT 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 18 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 INDEPENDANT CERTIFIED PUBLIC ACCOUNTANT HAS NOT CHANGED SINCE THE LAST FISCAL YEAR. FORM 990 PART III LINE 3 DURING THE 2020 FISCAL YEAR, THE WORLD HEALTH ORGANIZATION DECLARED THE CORONAVIRUS (COVID-19) OUTBREAK TO BE A PANDEMIC. COVID-19 SPREAD ACROSS THE GLOBE AND IMPACTED WORLDWIDE ECONOMIC ACTIVITY AND FINANCIAL MARKETS. DUE TO THE PANDEMIC AND GOVERNMENT WORK FROM HOME ORDERS, THE UNIVERSITY HAD TO SHIFT OPERATIONS FROM CAMPUS. FORM 990 PART III LINE 3 CONT THIS LED TO A FAR HIGHER PREVALENCE OF REMOTE WORK AND LEARNING, AND CAUSED THE UNIVERSITY TO CLOSE RESIDENCE HALLS. DUE TO THE CLOSURE, THE UNIVERSITY ISSUED CREDITS FOR A PORTION OF THE ROOM AND BOARD CHARGES TO STUDENTS. CHARITABLE REMAINDER UNITRUST 2001 NEWBURG RD Louisville KY 40205 911825410 KY N/A false HIGHLANDS COURT 1720 RICHMOND DR Louisville KY 40205 310955903 SENIOR HOUSING KY N/A false false false false false false false false false false false false false false false false false false false false