2021-04-15T14:07:49-05:00 2020-05-31 390859910 BAKER TILLY US LLP 777 E WISCONSIN AVENUE FLOOR 32 MILWAUKEE WI 53202 990 2019-06-01 420680412 LORAS COLLEGE LORA 5635887100 1450 ALTA VISTA STREET DUBUQUE IA 52001 MICHAEL H DOYLE TREASURER, VP INSTITUTIONAL AD 5635887100 2021-04-15 1 TROY MARINE CPA P00187863 4147775500 2021-04-13 2019 2022-09-23 18:48:47Z JAMES COLLINS 1450 ALTA VISTA STREET DUBUQUE IA 52001 89614266 0 X WWW.LORAS.EDU X 1839 IA EDUCATION 28 27 1157 523 112065 20855 13101573 7219232 56488748 55660636 1208583 846858 248909 261093 71047813 63987819 26264320 25436246 0 0 21575112 21943813 0 0 1611938 17643485 17100163 65482917 64480222 5564896 -492403 115884120 121818736 69777318 75980213 46106802 45838523 X LORAS, AS A CATHOLIC LIBERAL ARTS COLLEGE, CREATES A COMMUNITY OF ACTIVE LEARNERS, REFLECTIVE THINKERS, ETHICAL DECISION MAKERS AND RESPONSIBLE CONTRIBUTORS IN DIVERSE PROFESSIONAL, SOCIAL AND RELIGIOUS ROLES. 0 0 25331246 25331246 SCHOLARSHIPS AND GRANTS TO STUDENTS 14609694 45426412 INSTRUCTION AND ACADEMIC SUPPORT PROVIDED TO FULL AND PART TIME STUDENTS (1,369 FULL TIME EQUIVALENT STUDENTS). 9730801 3808397 STUDENT SERVICES, INCLUDING STUDENT DEVELOPMENT, INTERCOLLEGIATE ATHLETICS AND OTHER SERVICES. 11434558 105000 6425827 OTHER PROGRAM SERVICES INCLUDE AUXILIARY PROGRAMS SUCH AS HOUSING AND FOOD SERVICE, RESEARCH, PUBLIC SERVICE AND INSTITUTIONAL SUPPORT. 11434558 105000 6425827 61106299 1 1 0 0 0 0 0 1 1 1 1 0 0 0 1 1 1 0 1 0 1 0 0 0 1 1 0 1 1 1 1 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 0 0 0 1 102 3 1 1157 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 28 27 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL CA X RENNIE ROOT 5635887775 1450 ALTA VISTA STREET DUBUQUE IA 52001 X JAMES E COLLINS PRESIDENT 40.00 X X 378836 0 93403 MICHAEL H DOYLE TREASURER, VP FOR INSTITUTIONAL ADV. 40.00 X 200174 0 36063 CRAIG SCHAEFER DIRECTOR OF TV STUDIO 40.00 X 173834 0 28799 DONNA HEALD VP FOR ACADEMIC AFFAIRS 40.00 X 149676 0 22376 MARY ELLEN CARROLL SENIOR VICE PRESIDENT 40.00 X 129191 0 31611 ARTHUR SUNLEAF VP FOR STUDENT DEVELOPMENT 40.00 X 103244 0 43992 MOST REV MICHAEL JACKALS CHANCELLOR, REGENT 1.00 X X 0 0 0 TONY REARDON CHAIR, REGENT 1.00 X X 0 0 0 MARY MEEHAN VICE CHAIR, REGENT 1.00 X X 0 0 0 JOSEPH SCHIESL VICE CHAIR, REGENT 1.00 X X 0 0 0 WILLIAM GLYNN REGENT 1.00 X 0 0 0 RICH CLAYTON SECRETARY, REGENT 1.00 X X 0 0 0 TROY L CICERO REGENT 1.00 X 0 0 0 TOM TAUKE REGENT 1.00 X 0 0 0 TIMOTHY SUTHER REGENT 1.00 X 0 0 0 THOMAS M SHEY REGENT 1.00 X 0 0 0 THERESA HOFFMAN REGENT 1.00 X 0 0 0 STEVE SLOAN REGENT 1.00 X 0 0 0 SIOBHAN O'CONNOR HARTSELL REGENT 1.00 X 0 0 0 SHA-CHELLE MANNING REGENT 1.00 X 0 0 0 RICHARD KENNEY REGENT 1.00 X 0 0 0 REV MSGR JAMES BARTA REGENT 1.00 X 0 0 0 PAUL BREITBACH REGENT 1.00 X 0 0 0 MSGR JOHN ENZLER REGENT 1.00 X 0 0 0 MIKE VALDER REGENT 1.00 X 0 0 0 MICHAEL RICE REGENT 1.00 X 0 0 0 MARK MOLO REGENT 1.00 X 0 0 0 JOHN K SCHMIDT REGENT 1.00 X 0 0 0 MARK CLOGHESSY REGENT 1.00 X 0 0 0 GREG GUMBEL REGENT 1.00 X 0 0 0 GENE MURPHY REGENT 1.00 X 0 0 0 DON ULRICH REGENT 1.00 X 0 0 0 DENNIS HOULIHAN REGENT 1.00 X 0 0 0 DAVID MEYERS REGENT 1.00 X 0 0 0 DAVID W SPAHN REGENT 1.00 X 0 0 0 RICHARD SCALISE REGENT 1.00 X 0 0 0 1134955 0 256244 6 0 1 0 ARAMARK 1450 ALTA VISTA DUBUQUE IA 52004 FOOD SERVICE 2960965 HORSFIELD CONSTRUCTION INC 505 E MAIN ST EPWORTH IA 52045 CONSTRUCTION 1787179 PAULSON ELECTRIC COMPANY 685 CENTURY DR DUBUQUE IA 52004 CONSTRUCTION 970986 IIW ENGINEERS & SURVEYORS 4155 PENNSYLVANIA AVE DUBUQUE IA 52002 ENGINEERING 667516 COLLEGIS LLC 1415 W 22ND ST STE 400 OAKBROOK IL 60523 MARKETING 291276 11 617471 6601761 454652 7219232 COLLEGE FEES & SERVICES 611310 44998596 44998596 SALES & SERVICES OF AUXILIARY ENT 611710 8177291 8177291 SALES & SERVICES OF EDUCATIONAL E 611710 324627 324627 FINE INCOME 611710 79618 79618 DELINQUENCY CHARGES 611710 62099 62099 2018405 2018405 55660636 930630 930630 25530922 25612322 2372 -81400 -2372 -83772 -83772 125822 0 125822 125822 34959 11753 23206 23206 EXT. EVENTS & CATERING INCOME 722320 105815 105815 ADVERTISING 541800 6250 6250 112065 63987819 55660636 112065 995886 105000 105000 25331246 25331246 1108444 321107 486226 301111 16424066 15334398 379778 709890 786130 723002 23268 39860 2442451 2191031 117742 133678 1182722 1069029 51802 61891 34259 34259 80186 80186 88906 88906 1282974 1138316 100462 44196 186720 180476 6244 1911221 1768131 23275 119815 1283208 1205521 40737 36950 1344659 1344659 996122 930061 16756 49305 56703 53721 2118 864 2005884 2005884 2657888 2657888 524138 524138 FOOD SERVICE 2468316 2468316 REPAIRS AND MAINTENANCE 1397527 1397467 30 30 DUES & SUBSCRIPTIONS 214222 82421 117077 14724 UBIT PAID 24000 24000 543230 274487 175363 93380 64480222 61106299 1761985 1611938 5833 5830 5584619 5641668 27907241 28241668 333228 814516 19173 17773 512812 413812 109620990 60249757 47193644 49371233 22477152 25952948 2117910 2052600 5800907 5360414 3931601 3946274 115884120 121818736 4526060 3669226 3978838 2074571 46360946 45364355 644062 1111435 4597500 8513163 9669912 15247463 69777318 75980213 X -30573044 -30882837 76679846 76721360 46106802 45838523 115884120 121818736 X -492403 100029 124095 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4800 492742 X X X X 0 0 1 X 40621690 2551883 1103938 1113592 427189 42736730 38907445 2550565 533907 957626 412601 40621690 32809324 5640094 1556630 631935 466668 38907445 30192189 1321831 2150610 676300 179006 32809324 29851013 1440285 -314112 642019 142978 30192189 0.00040 0.47330 0.52630 0 0 1203961 1203961 81060298 42400928 38659370 11341629 9584752 1756877 16015102 8264077 7751025 49371233 ANNUITIES PAYABLE 1128831 INTEREST RATE EXCHANGE LIABILITY 6996423 DUE TO US GOVERNMENT 2569383 FINANCING OBLIGATION 693626 PPP LOAN 3859200 15247463 X 38965741 100029 36000 268983 405012 38560729 98216 25328874 25427090 63987819 39234020 36000 147260 183260 39050760 98216 25331246 25429462 64480222 PART III, LINE 4: THE COLLEGE MAINTAINS VARIOUS ARTWORKS, MANUSCRIPTS, STATUES, PAINTINGS, BOOKS AND FURNITURE THAT PRESERVES THE HERITAGE OF THE COLLEGE AND PROMOTES SCHOLARSHIP ENDEAVORS. PART IV, LINE 2B: THE FUNDS HELD FOR OTHERS ARE AGENCY ACCOUNTS HELD FOR VARIOUS STUDENT ORGANIZATIONS OF LORAS COLLEGE. PART V, LINE 4: THE ENDOWMENT HAS BEEN ESTABLISHED TO PROVIDE A SUFFICIENT TOTAL RETURN TO SUPPLEMENT THE COLLEGE'S VARIOUS SOURCES OF OPERATING INCOME AND TO SUPPORT IN PERPETUITY THE MISSION OF THE COLLEGE. PART X, LINE 2: THE COLLEGE FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE COLLEGE FOR UNCERTAIN TAX POSITIONS AS OF MAY 31, 2020 OR 2019. THE COLLEGE'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED GAIN/LOSS ON INTEREST RATE SWAP -2,223,342. WRITE-OFFS FROM UNCOLLECTIBLE PLEDGES -729,773. PRESENT VALUE ADJUSTMENT OF PLEDGES 3,222,098. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS REPORTED AS CONTRA INCOME 25,331,246. GAIN/LOSS FROM SALE OF ASSETS -2,372. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN BENEFICIAL INTEREST IN TRUSTS 144,888. GAIN/LOSS FROM SALE OF ASSETS 2,372. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS REPORTED AS CONTRA INCOME 25,331,246. 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 COLLEGE'S NONDISCRIMINATORY POLICY IS PUBLISHED IN ITS UNDERGRADUATE BULLETIN AND STUDENT HANDBOOK AS WELL AS AVAILABLE VIA ITS WEBSITE. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FINANCIAL AID FROM FEDERAL AND STATE GOVERNMENTS. THE AID IS THEN AWARDED TO STUDENTS IN ACCORDANCE WITH THE GUIDELINES ESTABLISHED FOR EACH FORM OF FINANCIAL AID. EUROPE 0 0 PROGRAM SERVICES STUDY ABROAD 295315 SUB SAHARA AFRICA 0 0 PROGRAM SERVICES STUDY ABROAD 77732 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 32621 0 0 0 0 0 0 405668 0 405668 0 0 0 0 0 0 PART III ACCOUNTING METHOD: ATHLETICS FUNDRAISER 117960 117960 3 7862 7862 125822 125822 125822 34959 4622 7131 1 34959 4622 7131 11753 23206 IA 1 0 1 0 0.82000 0.18000 RENNIE ROOT 1450 ALTA VISTA STREET DUBUQUE IA 52001 0 RENNIE ROOT RENNIE SPENDS MINIMAL TIME ON GAMING SERVICES SO NONE OF THE SALARY OF HER REGULAR POSITION IS REPORTED HERE. ALL RECEIPTS, DEPOSITS, PAYMENTS, AND REPORTING IS RUN THROUGH THE GENERAL OPERATIONS OF THE BUSINESS OFFICE OF THE COLLEGE. RENNIE OVERSEES THE OPERATIONS OF THE BUSINESS OFFICE AND DELEGATES THE TASKS RELATED TO GAMING TO SEVERAL DIFFERENT EMPLOYEES. X 0 SCHEDULE G, PART III, LINE 6, VOLUNTEER LABOR: THE COLLEGE UTILIZED THE AID OF VOLUNTEERS IN CONDUCTING ITS FUNDRAISING AND GAMING ACTIVITIES HOWEVER, THE EXACT PERCENTAGE OF VOLUNTEER LABOR USED IS UNKNOWN. 1 STATE UNIVERSITY OF IOWA ONE WEST PARK RD PO BOX 4550 IOWA CITY IA 52244 420796760 501(C)(3) 105000 RAISED FUNDS TO SUPPORT THE CHILDREN'S MIRACLE NETWORK HOSPITALS THROUGH THE STATE UNIVERSITY OF IOWA FOUNDATION 1 SCHOLARSHIP AID FOR STUDENTS' COST OF ATTENDANCE 1325 25331246 PART I, LINE 2: THE COLLEGE'S OFFICE OF FINANCIAL PLANNING MONITORS ALL AWARDS TO ENSURE COMPLIANCE WITH FEDERAL AND STATE REGULATIONS. ADDITIONALLY, THE COLLEGE ENGAGES AN INDEPENDENT AUDIT IN ACCORDANCE WITH OMB A-133. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 JAMES E COLLINS PRESIDENT 345580 0 30000 0 3256 0 21000 0 72403 0 472239 0 0 0 MICHAEL H DOYLE TREASURER, VP FOR INSTITUTIONAL ADV. 199878 0 0 0 296 0 13650 0 22413 0 236237 0 0 0 CRAIG SCHAEFER DIRECTOR OF TV STUDIO 173773 0 0 0 61 0 5013 0 23786 0 202633 0 0 0 DONNA HEALD VP FOR ACADEMIC AFFAIRS 149124 0 0 0 552 0 10920 0 11456 0 172052 0 0 0 MARY ELLEN CARROLL SENIOR VICE PRESIDENT 128955 0 0 0 236 0 9476 0 22135 0 160802 0 0 0 PART I, LINE 1A THE HOUSING ALLOWANCE ACCOUNT FOR AN EMPLOYEE IS PART OF THE NORMAL TAXABLE WAGES PAID TO THE EMPLOYEE AND IS INCLUDED AS PART OF THE EMPLOYEE'S TAXABLE INCOME. A IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 462460ZC3 2006-10-01 22035000 REFINANCE 1996 ISSUE, CONSTRUCTION 0 0 0 B IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 NONEAVAIL 2011-11-01 2500000 REFINANCE PORTION OF 2002 ISSUE 0 0 0 C IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 NONEAVAIL 2017-12-28 10204000 REFUND PORTION OF 2000 ISSUE 0 0 0 A 6830000 22387491 640689 137760 751533 13853174 7004335 2007 1 0 1 1 B 1000000 2500000 2500000 2011 1 0 1 1 C 10204000 10204000 2017 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 A 0 0 1 0 1 0 0 0 1 B 0 0 1 0 1 0 0 0 1 C 0 0 1 0 1 0 0 0 1 A 1 B 1 C 1 SCHEDULE K, PART II, COLUMN A: EXCESS PROCEEDS OF 352,491 ATTRIBUTED TO INVESTMENT EARNINGS. SUBJECT TO FERPA LAWS 124640 GRANTS/SCHOLARSHIPS ASSISTANCE TO STUDENTS ATTENDING THE COLLEGE X 2 4800 APPRAISAL X 268 DONOR VALUATION X 21 419657 AVG HIGH/LOW SHARE VALUE X LIFE INSURANCE 1 18826 CASH SURRENDER VALUE X MEETING EXPENSE 4 8664 DONOR VALUATION X FOOD/BEVERAGE 6 2000 DONOR VALUATION X OFFICE EQUIPMENT 3 437 DONOR VALUATION 0 1 1 PART I, LINE 32B: LORAS COLLEGE'S FINANCIAL INSTITUTION SELLS ALL PUBLICLY TRADED SECURITIES AT THE TIME OF GIFT ON BEHALF OF LORAS COLLEGE THROUGH AN INDEPENDENT BROKER. FORM 990, PART VI, SECTION B, LINE 11B THE COLLEGE MAKES THE 990 AVAILABLE TO ALL BOARD MEMBERS VIA A SECURE PORTAL WEBSITE PRIOR TO FILING WITH THE IRS. THIS IS THE PROCESS BY WHICH THE BOARD MEMBERS REVIEW THE 990. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, EACH OFFICER, DIRECTOR AND KEY EMPLOYEE MUST FILE A STATEMENT VERIFYING HE/SHE HAS READ THE CONFLICT OF INTEREST POLICY AND IS DISCLOSING ANY CONFLICTS OF INTEREST. EACH STATEMENT IS SENT DIRECTLY TO THE AUDIT COMMITTEE CHAIRPERSON. THE CHAIR AND THE COLLEGE'S TREASURER REVIEW EACH STATEMENT. IN ADDITION, THE TREASURER AND CONTROLLER MONITOR ANY TRANSACTIONS THROUGHOUT THE YEAR BETWEEN SUCH PARTIES. EACH TRANSACTION IS LOGGED WITH THE COLLEGE'S GENERAL LEDGER SYSTEM. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS USED BY THE COLLEGE IN DETERMINING COMPENSATION OF KEY EMPLOYEES IS: - BOARD-APPOINTED COMPENSATION COMMITTEE REVIEWS ALL RECOMMENDED COMPENSATION LEVELS. - COMPARATIVE BENCHMARK DATA IS USED (IAICU, CUPA, AND OTHERS). - WRITTEN EMPLOYMENT CONTRACTS ARE IN PLACE FOR THE PRESIDENT AND OTHER KEY EMPLOYEES IN ACCORDANCE WITH THE COLLEGE'S HANDBOOKS. - COMPENSATION IS FORMALLY APPROVED BY THE FULL BOARD OF REGENTS. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST STATEMENT AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC VIA ANOTHER'S WEBSITE SUCH AS GUIDESTAR.ORG, OR UPON REQUEST. THE COLLEGE'S AUDITED FINANCIAL STATEMENTS ARE ALSO AVAILABLE TO THE PUBLIC VIA THE MUNICIPAL SECURITIES RULE MAKING BOARD WEBSITE. FORM 990, PART VII, SECTION A, COLUMN E: REASONABLE EFFORTS UNDERTAKEN IN REGARD TO REPORTABLE COMPENSATION FROM RELATED ORGANIZATIONS: - RECEIVED A COMPLETED CONFLICT OF INTEREST STATEMENT FROM ALL TRUSTEES, OFFICERS, AND BOARD MEMBERS. THIS STATEMENT IS COMPLETED ANNUALLY. - ALL RELATED PARTIES ARE DISCLOSED ON SCHEDULE R. FINANCIAL RECORDS ARE AVAILABLE TO THE COLLEGE. FORM 990, PART XI, LINE 9: UNREALIZED GAIN/LOSS ON INTEREST RATE SWAP -2,223,342. CHANGE IN SPLIT INTEREST AGREEMENT -144,888. PRESENT VALUE ADJUSTMENT OF PLEDGES 3,222,098. WRITE-OFFS FROM UNCOLLECTIBLE PLEDGES -729,773. FORM 990, PART XII, LINE 2C: THE OVERSIGHT PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. PERPETUAL TRUSTS (1) CHARITABLE TRUST IA T 0 CHARITABLE REMAINDER UNITRUST (4) CHARITABLE TRUST IA T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0