2021-05-17T12:33:10-05:00 2020-06-30 363168081 SIKICH LLP 3201 W WHITE OAKS DR STE 102 SPRINGFIELD IL 62704 990 2019-07-01 370661491 BLACKBURN UNIVERSITY BLAC 2178543231 700 COLLEGE AVENUE NO 1 CARLINVILLE IL 62626 CHRIS BURNLEY INTERIM VP ADMIN & FINANCE 2178543231 2021-05-14 1 JILL M BOYLE CPA P01246734 2177933363 2021-05-14 2019 2022-09-23 18:48:47Z BLACKBURN COLLEGE MARK BIERMANN 700 COLLEGE AVENUE NO 1 CARLINVILLE IL 62626 20665221 0 X WWW.BLACKBURN.EDU X UNIVERSITY 1837 IL COMBINE LIBERAL ARTS EDUCATION & WORK PROGRAM TO PREPARE GRADUATES FOR CAREERS AND LIFELONG LEARNING. 26 26 543 35 0 0 2921572 6051041 14422015 13126195 481872 158994 332248 1236589 18157707 20572819 4759171 4729997 0 0 10185588 9609328 0 0 511396 5583318 5602172 20528077 19941497 -2370370 631322 61303011 69417787 6295985 12166940 55007026 57250847 BLACKBURN COLLEGE LINKS A RIGOROUS AND AFFORDABLE LIBERAL ARTS EDUCATION WITH A UNIQUE STUDENT-MANAGED WORK PROGRAM PREPARING GRADUATES FOR CAREERS, COMMUNITIES, AND LIFELONG LEARNING. 0 0 16012223 4729997 13377786 ACADEMIC PROGRAMS - 486 STUDENTS SERVED DURING THE FALL SEMESTER 2019; 479 STUDENTS SERVED DURING THE SPRING SEMESTER 2020. 16012223 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 0 1 0 0 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 0 0 0 0 1 39 0 543 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 26 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X DEANA ROGERS 2178545508 LUDLUM HALL 116A 700 COLLEGE AVE CARLINVILLE IL 62626 JULIE MURRAY-JENSEN PRESIDENT 50.00 X 244187 0 12755 JOHN MCCLUSKY PROVOST 50.00 X 140560 0 7033 STEVE MORRIS VP ADMIN & FINANCE THRU APRIL 2020 50.00 X 137713 0 6896 LAUREN DODGE VP INSITUTIONAL ADVANCEMEN 50.00 X 115000 0 9505 MICHAEL SMILEY CHAIR BOT 1.00 X X 0 0 0 PAUL TEPIKIAN VICE CHAIR BOT 1.00 X X 0 0 0 CRESS MADDOX SECRETARY BOT 1.00 X X 0 0 0 JEROME ADAMS TRUSTEE 1.00 X 0 0 0 JIM ALLEN TRUSTEE 1.00 X 0 0 0 DAN ANDERSON TRUSTEE 1.00 X 0 0 0 LISA BLACK-GOMEZ TRUSTEE 1.00 X 0 0 0 LOIS DEFLEUR TRUSTEE 1.00 X 0 0 0 KENNETH DEIHL TRUSTEE 1.00 X 0 0 0 DEANNA DEMUZIO TRUSTEE 1.00 X 0 0 0 DAVID DORRIS TRUSTEE 1.00 X 0 0 0 JAMES FAUST TRUSTEE 1.00 X 0 0 0 FRAN GOODMAN TRUSTEE 1.00 X 0 0 0 CINDY GRAU TRUSTEE 1.00 X 0 0 0 JENNIFER HAMILTON EXECUTIVE COMMITTEE MEMBER 1.00 X 0 0 0 TOM HEINZ TRUSTEE 1.00 X 0 0 0 ROCHELLE HENDERSON TRUSTEE 1.00 X 0 0 0 CYNTHIA LAMAR TRUSTEE 1.00 X 0 0 0 THOMAS LOCASCIO TRUSTEE 1.00 X 0 0 0 GEORGE MALO TRUSTEE 1.00 X 0 0 0 STANLEY PILLMAN EXECUTIVE COMMITTEE MEMBER 1.00 X 0 0 0 GEORGE PRECKWINKLE TRUSTEE 1.00 X 0 0 0 SARAH ROBISON TRUSTEE 1.00 X 0 0 0 JAMES SANDFORT TRUSTEE 1.00 X 0 0 0 JENNIFER SHELBY TRUSTEE 1.00 X 0 0 0 MADONNA TIDEMAN TRUSTEE 1.00 X 0 0 0 637460 0 36189 4 0 1 0 FRESH IDEAS 3220 VANDIVER DR COLUMBIA MO 65202 FOOD SERVICE 866267 AREA HEATING AND AIR CONDITIONING 222 1/2 W 2ND SOUTH ST CARLINVILLE IL 62626 HEATING/AIR CONDITIONING 163320 2 3372254 2678787 1066990 6051041 TUITION & FEES 611600 11033820 11033820 AUXILLARY ENTERPRISES 611600 2092375 2092375 13126195 158994 158994 1472 1472 243014 14078 228936 228936 228936 100979 78324 22655 22655 OTHER INCOME 611600 983526 983526 983526 20572819 13377786 0 1143992 4729997 4729997 678887 560828 77618 40441 7681869 6309822 1037183 334864 810778 571878 213291 25609 437794 365190 46285 26319 60733 60733 793664 350407 424894 18363 31682 13978 17704 438085 332298 104091 1696 171385 143349 8230 19806 305754 305754 1164980 829824 335156 160711 55001 105710 FOOD & HEALTH SERVICES 754967 742458 10686 1823 EQUIPMENT & SUPPLIES 593226 466140 127086 BAD DEBTS 227993 227993 REPAIRS & MAINTENANCE 214619 164781 49838 684373 376272 265626 42475 19941497 16012223 3417878 511396 246442 3268364 16294 1706 57702 19481 435526 405418 0 2294782 51096 56127 133356 133179 47087325 17955915 27229712 29131410 383621 383285 28404329 29147499 4344933 4576536 61303011 69417787 807871 1462484 900 0 5090996 5515392 0 2554825 396218 2634239 6295985 12166940 X 31815611 31787140 23191415 25463707 55007026 57250847 61303011 69417787 X 631322 549060 1028990 34449 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 25820454 1748783 303899 1571252 -18635 26320519 26605952 344067 1721539 3719204 160890 24791464 22074568 648814 1647736 921000 80860 23369258 19405253 1302257 2345588 743842 234688 22074568 15357641 5544540 183368 353469 1927572 18804508 0.09800 0.90200 0 0 14900 14900 39597448 14895064 24702384 6876662 3060851 3815811 598315 598315 29131410 REAL ESTATES HELD FOR INVESTMENT - FARM LAND 7478616 F COMMONFUND: MULTI STRATEGY EQUITY FUND 14273078 F COMMONFUND: MULTI STRATEGY BOND FUND 6811580 F CAPITAL PARTNERS VI, LP 209465 F CAPITAL PARTNERS VII, LP 333263 F LIFE INSURANCE 39342 F OTHER INVESTMENTS 2155 F 29147499 BENEFICIAL INTEREST IN PERPETUAL TRUSTS 4576536 4576536 SPLIT INTEREST AGREEMENTS 211260 PERKINS LOAN PROGRAM 65433 CAPITAL LEASES PAYABLE 2276482 DEPOSITS HELD IN CUSTODY FOR OTHERS 81064 2634239 X 16857372 549060 112773 661833 16195539 60733 4316547 4377280 20572819 15642541 78324 78324 15564217 60733 4316547 4377280 19941497 PART V, LINE 4: TO PROVIDE FOR SCHOLARSHIP FUNDS AND AWARDS FOR BLACKBURN STUDENTS AND FOR ONGOING MAINTENANCE AND UPKEEP OF THE BLACKBURN CAMPUS. PART X, LINE 2: THE COLLEGE IS A NOT-FOR-PROFIT ENTITY AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE IRC AND SIMILAR PROVISIONS OF THE STATE TAX CODE. THE COLLEGE IS NOT CLASSIFIED AS A PRIVATE FOUNDATION. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD - BOOKSTORE 78,324. CHANGES IN SPLIT-INTEREST AGREEMENT -22,407. CHANGES IN VALUE OF INTEREST IN PERPETUAL TRUST 56,856. PART XI, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL GRANTS 4,316,547. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD - BOOKSTORE 78,324. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL GRANTS 4,316,547. PART V, LINE 1A - CURRENT YEAR A PRIOR PERIOD ADJUSTMENT OF $1,028,990 WAS MADE TO THE ENDOWMENT FUND IN 2019 AS REFLECTED IN THE UPDATED CURRENT YEAR (COLUMN A) BEGINNING BALANCE. A PRIOR PERIOD ADJUSTMENT OF $2,716,896 WAS MADE TO THE ENDOWMENT FUND IN 2018 AS REFLECTED IN THE UPDATED PRIOR YEAR (COLUMN B) BEGINNING BALANCE. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 BLACKBURN'S NONDISCRIMINATORY POLICY IS PUBLISHED ON THE SCHOOL'S WEBSITE, IN THE SCHOOL'S COURSE CATALOG, AND IN THE STUDENT HANDBOOK. SCHEDULE E, PART I, LINE 6 FINANCIAL AID OR ASSISTANCE FROM GOVERNMENTAL AGENCIES: SMALL BUSINESS ADMINISTRATION $1,423,100 FEDERAL WORK COLLEGE $1,010,735 FEDERAL SEOG $51,473 OTHER GRANTS $886,946 1 SCHOLARSHIPS 486 4316547 CARES ACT 432 413450 PART I, LINE 2: INSTITUTIONAL GRANTS ARE OFFERED TO ATTRACT AND RETAIN STUDENTS. DISBURSEMENTS ARE MADE IN ACCORDANCE WITH PROCEDURES OR ARE SUBJECT TO CONDITIONS ESTABLISHED BY THE COLLEGE'S GOVERNING BOARD DESIGNED TO ENSURE THAT INDIVIDUALS AND ORGANIZATIONS RECEIVING DISBURSEMENTS FROM THE COLLEGE, IN FURTHERANCE OF ITS EXEMPT PROGRAMS, ARE ADEQUATELY INVESTIGATED TO ENSURE THAT THEY ARE QUALIFYING RECIPIENTS. STUDENTS RECEIVING SCHOLARSHIPS AND FELLOWSHIPS ARE JUDGED WORTHY BY THE COLLEGE'S ASSESSMENT ON THE BASIS OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED, AND OTHER SIMILAR STANDARDS. PART III COLUMN C CARES ACT FUNDS. THESE FUNDS WERE PROVIDED TO THE COLLEGE IN APRIL 2020 AS PART OF THE CARES ACT. THE ACT REQUIRED THAT WE DISBURSE THESE FUNDS DIRECTLY TO STUDENTS, WITH PRIORITY BASED UPON A STUDENT'S LEVEL OF FINANCIAL NEED. THE COLLEGE DISTRIBUTED THE MAJORITY OF THE AMOUNT AVAILABLE PRIOR TO JUNE 30, 2020, AND DISTRIBUTED THE REMAINING AMOUNT SHORTLY THEREAFTER. X X X X X 1 1 X X 0 0 0 0 0 0 0 0 0 JULIE MURRAY-JENSEN PRESIDENT 244187 0 0 0 0 0 0 0 12755 0 256942 0 0 0 PART I, LINE 1A THE PRESIDENT'S CONTRACT DETAILS THE VARIOUS PERSONAL SERVICES TO BE PAID ON HER BEHALF. A CENTRAL ILLINOIS ECONOMIC DEVELOPMENT AUTHORITY 273234464 2015-05-29 5000000 SEE PART VI 0 0 0 B CENTRAL ILLINOIS ECONOMIC DEVELOPMENT AUTHORITY 273234464 2018-08-31 4000000 SEE PART VI 0 0 0 A 5000000 76000 4924000 2016 1 0 1 1 B 4000000 22479 808112 553746 0 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 1 0 0 0 1 B 0 1 0 0 1 0 0 0 1 A 1 B 1 SCHEDULE K, PART I, LINE A, COLUMNS (E) AND (F) ON JULY 1, 1999, THE COLLEGE ENTERED INTO AN AGREEMENT TO BORROW $5,000,000 OF THE PROCEEDS OF BONDS ISSUED BY THE ILLINOIS EDUCATIONAL FACILITIES AUTHORITY THROUGH PNC BANK. ON MAY 29, 2015, THE COLLEGE REFINANCED THE BOND ISSUANCE WITH THE BLACKBURN UNIVERSITY PROJECT REVENUE BOND, SERIES 2015 WITH UNITED COMMUNITY BANK. THE BONDS BEAR INTEREST AT A RATE OF INTEREST PER ANNUM INITIALLY EQUAL TO 2.96% FOR TEN YEARS, AND THEREAFTER, SUBJECT TO ADJUSTMENTS TO A RATE OF INTEREST PER ANNUM EQUAL TO THE FIVE-YEAR RATE PLUS 1.75% ON EACH ADJUSTMENT DATE. THE BONDS MATURE ON JULY 1, 2029, WITH AN OPTIONAL "TAKE OUT" LOAN TO EXTEND THE MATURITY DATE TO JUNE 1, 2035. THE BONDS ARE COLLATERALIZED BY A MORTGAGE DATED MAY 1, 2015, ASSIGNMENT OF RENTS AND PROFITS, AND A SECURITY AGREEMENT. DURING 2016, THE COLLEGE TOOK AN ADDITIONAL DRAW OF $1,123,580, THE PROCEEDS OF WHICH WERE REQUIRED TO BE SPENT ON CAPITAL PROJECTS. PART I, LINE B AND PART II, COLUMN B, LINES 3,7,10, AND 12 THE 2018 ISSUANCE WAS ORIGINALLY APPROVED FOR $4,000,000. SUBSEQUENT TO APPROVAL, THE COLLEGE DECIDED TO LIMIT ITS TAX EXEMPT BORROWING TO $1,384,337 AND TO BORROW THE REMAINING $2,615,663 ON A TAXABLE BASIS. FOR THIS REASON, LINES 7, 10, AND 12 WILL TOTAL $1,384,337. X 101 1063327 FMV X TOOLING 318 3573 COST 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF TRUSTEES RECEIVES A COPY OF THE FORM 990 PRIOR TO SUBMISSION FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY SET IN PLACE AND TRUSTEE AND KEY EMPLOYEES MUST FILL OUT A DISCLOSURE FORM ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 TOP MANAGEMENT SALARY WAS APPROVED BY THE BOARD OF TRUSTEES INITIALLY AND ADJUSTMENTS TO SALARY ARE APPROVED BY THE BOARD ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN SPLIT-INTEREST AGREEMENT -22,407. CHANGE IN VALUE OF INTEREST IN PERPETUAL TRUST 56,856.