2020-05-13T06:05:09-05:00 2019-06-30 111986323 MARCUM LLP 1899 L STREET NW SUITE 850 WASHINGTON DC 20036 990 2018-07-01 520591421 ST JOHN'S COLLEGE STJO 4102632371 60 COLLEGE AVENUE ANNAPOLIS MD 21401 MICHAEL DURAN TREASURER AND CFO 4102632371 2020-05-13 1 AARON M FOX P01365820 2022274000 2020-05-12 47.19.127.190 2020-05-13 06:05:02 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 D0D2FBCF76F1D84FBAF670E308EC05F5F8FD5674 2018 2021-01-29 14:40:06Z MARK ROOSEVELT 60 COLLEGE AVENUE ANNAPOLIS MD 21401 104817902 0 X WWW.SJC.EDU X 1784 MD TO PROVIDE POST-SECONDARY EDUCATION. 31 27 1002 150 218581 0 13874342 33061314 53036376 55228011 6621025 -1211696 163550 177308 73695293 87254937 28877558 30249734 0 0 31918685 32728731 0 0 4547854 19611506 19965556 80407749 82944021 -6712456 4310916 310891244 321562015 65286142 58044856 245605102 263517159 X ST. JOHN'S COLLEGE IS A COMMUNITY DEDICATED TO LIBERAL EDUCATION, WHICH AIMS TO FREE US FROM PREJUDICE AND UNEXAMINED OPINION, PREPARE US TO MEET THE KNOWN AND UNKNOWN CHALLENGES THE FUTURE WILL PRESENT, AND ENABLE US TO MAKE THOUGHTFUL CHOICES IN PUBLIC AND PRIVATE LIFE, AND TO ACHIEVE PERSONAL AND PROFESSIONAL SUCCESS. 0 0 67641742 30249734 55110867 GRADUATE & UNDERGRADUATE COURSE OF STUDY FOR APPROXIMATELY 900 STUDENTS. 67641742 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 1 169 0 1 1002 1 1 1 1 CJ 0 0 0 0 0 0 0 0 0 0 X 31 27 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MD NM X ALLY GONTANG-HIGHFIELD 4106262514 60 COLLEGE AVENUE ANNAPOLIS MD 21401 RONALD H FIELDING CHAIR 1.00 X 0 0 0 PAM SAUNDERS-ALBIN VICE CHAIR 1.00 X 0 0 0 ROB MASS SECRETARY 1.00 X 0 0 0 STEVEN BOHLIN MEMBER 1.00 X 0 0 0 SAMUEL B DAVIDOFF MEMBER 1.00 X 0 0 0 MICHELE C FARQUHAR MEMBER 1.00 X 0 0 0 STEPHAN J FORMAN MEMBER 1.00 X 0 0 0 JOHN L GRAY MEMBER 1.00 X 0 0 0 RICHARD GROENENDYKE JR MEMBER 1.00 X 0 0 0 JOAN M HARATANI MEMBER 1.00 X 0 0 0 LAWRENCE J HOGAN EX-OFFICIO 1.00 X 0 0 0 LESLIE JUMP MEMBER 1.00 X 0 0 0 LESLIE M KAY MEMBER 1.00 X 0 0 0 THOMAS R KRAUSE MEMBER 1.00 X 0 0 0 DONALD LEOPOLD MEMBER 1.00 X 0 0 0 PERRY A LERNER MEMBER 1.00 X 0 0 0 AUSTIN LIGON MEMBER 1.00 X 0 0 0 PETER MARBER MEMBER 1.00 X 0 0 0 SUSANA MARTINEZ EX-OFFICIO 1.00 X 0 0 0 TERESA PAUSIC EX-OFFICIO 1.00 X 0 0 0 LYDIA POLGREEN MEMBER 1.00 X 0 0 0 JOSHUA D ROGERS MEMBER 1.00 X 0 0 0 SUSAN SHAMOS MEMBER 1.00 X 0 0 0 SARAH SHEPHERD MEMBER 1.00 X 0 0 0 WARREN J SPECTOR MEMBER 1.00 X 0 0 0 LINDA STABLER-TALTY MEMBER 1.00 X 0 0 0 DELORES E WOLF MEMBER 1.00 X 0 0 0 MARK ROOSEVELT PRESIDENT - SANTA FE 35.00 X X 272897 0 63802 PANAYIOTIS PETER KANELOS PRESIDENT - ANNAPOLIS 35.00 X X 267212 0 130239 JOSEPH MACFARLAND DEAN - ANNAPOLIS 35.00 X X 143556 0 60925 WALTER STERLING DEAN - SANTA FE 35.00 X X 90765 0 33969 MICHAEL DURAN TREASURER - SANTA FE & CFO 35.00 X 170490 0 33457 RIMA ALLY GONTANG-HIGHFIELD TREASURER - ANNAPOLIS 35.00 X 133188 0 39398 PHELOSHA M COLLAROS VP OF DEVELOPMENT AND ALUMNI RELATIONS-SF 35.00 X 138342 0 19938 BENJAMIN BAUM VP OF ENROLLMENT - AS OF 07/2018 35.00 X 119246 0 16781 KELLY BROWN VP OF ADVANCEMENT - ANNAPOLIS 35.00 X 93016 0 21493 JAMES CAREY TUTOR - SANTA FE 35.00 X 130014 0 40343 EMILY LANGSTON ASSOCIATE DEAN (GI) - ANNAPOLIS 35.00 X 122699 0 62011 DAVID MCDONALD ASSOCIATE DEAN (GI) - SANTA FE 35.00 X 120898 0 36654 MICHAEL S GOLLUBER TUTOR - SANTA FE 35.00 X 116371 0 35382 CHRISTOPHER N DUGAN ASSISTANT DEAN - ANNAPOLIS 35.00 X 113814 0 34958 CHRISTOPHER NELSON TUTOR, FORMER PRESIDENT 35.00 X 105270 0 28145 2137778 0 657495 36 1 1 0 BON APPETIT PO BOX 417632 BOSTON MA 02241 DINING SERVICES 1693772 A'VIAND'S LLC PO BOX 1450 MINNEAPOLIS MN 55485 CONSTRUCTION SERVICES 1124058 ARROW MEDIA LLC 211 E 7TH STREET SUITE 635 AUSTIN TX 78701 BRANDING AND PUB. RELATIONS 631375 VANTAGE CONSTRUCTION CORPORATION 22636 DAVIS DRIVE SUITE 125 STERLING VA 20164 CONSTRUCTION SERVICES 403735 YEAROUT SERVICE LLC 8501 WASHINGTON NE ALBUQUERQUE NM 87113 HVAC MAINTENANCE SERVICES 337873 23 110296 4285647 28665371 6094595 33061314 TUITION AND FEES 611710 45021152 45021152 ROOM AND BOARD FEES 611710 7752202 7752202 OTHER PROGRAM SERVICES 611710 1978570 1978570 AUXILIARY ENTERPRISES 611710 476087 213183 262904 55228011 -3274102 -44323 -3229779 16863763 2102566 16903923 0 -40160 2102566 2062406 2062406 303538 110296 271990 31548 31548 532812 387052 145760 145760 87254937 55110867 218581 -1135825 22834652 22834652 7415082 7415082 2041307 383162 1498886 159259 22047952 17796543 2412448 1838961 1960426 1409998 485537 64891 5055898 3848303 921912 285683 1623148 1250565 231937 140646 85031 85031 137538 137538 899765 899765 2933657 1397676 412824 1123157 453410 277846 175564 3070279 1939243 714664 416372 509421 102054 405659 1708 1266203 1185489 76799 3915 495065 320761 53598 120706 203015 98313 49353 55349 60848 60848 3608831 3387240 202893 18698 438904 1541 437363 DINING HALL 3057854 3054730 1562 1562 DEBT EXPENSE 1815247 311316 1503931 OTHER 584532 350900 113364 120268 LECTURES, EVENTS & REL. 345956 276328 48513 21115 82944021 67641742 10754425 4547854 2637023 597741 6063961 1750080 41605903 45182891 68059 238133 47405 5996128 5907319 395144 391186 302423 388401 158503684 78025906 80699610 80477778 37229287 33073573 131724713 149494987 4121588 4059926 310891244 321562015 31079468 27244250 1203947 1229305 1431828 1729995 27605000 27120000 3000000 0 965899 721306 65286142 58044856 X 17430499 30548702 57755443 40734554 170419160 192233903 245605102 263517159 310891244 321562015 X 4310916 9284128 4317013 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X RARE AND OLD LIBRARY BOOKS 0 201121267 21273507 5846049 5123672 5822993 217294158 195698784 6203077 7763088 3886220 4657462 201121267 152003716 32128616 22283111 4512710 6203949 195698784 157294564 12025935 -7562178 3850362 5904243 152003716 150951958 11525232 2908649 3176238 4915037 157294564 0.03350 0.85920 0.10730 1 0 4886666 4886666 142131022 68809364 73321658 10642266 9216542 1425724 843730 843730 80477778 GLOBAL EQUITY FUNDS 63011348 C HEDGE FUNDS 56048225 C PRIVATE EQUITY FUNDS 28841943 C CHARITABLE REMINDER TRUSTS 1593471 C 149494987 UNAMORTIZED BOND PREMIUM -749205 DEFERRED BOND ISSUE COSTS -409997 ASSET RETIREMENT OBLIGATIONS 1880508 721306 X 71516821 9284128 6127255 15411383 56105438 899765 30249734 31149499 87254937 53604764 1810242 1810242 51794522 899765 30249734 31149499 82944021 PART III, LINE 4: SANTA FE THE ARTWORK PLACED AROUND CAMPUS, AS WELL AS LIBRARY BOOK COLLECTION, FURTHER THE PURPOSE OF THE COLLEGE BY EXPOSING STUDENTS TO FINE WORKS OF ART, IN BOTH THE WRITTEN AND SCULPTED FORM THE EXCELLENCE AND DEPTH OF THOUGHT AND CREATIVITY EXPECTED OF OUR STUDENTS. ANNAPOLIS THE COLLECTION IS AN ECLECTIC ASSEMBLAGE OF FINE AND DECORATIVE ART OBJECTS THAT HAVE BEEN GIVEN TO THE COLLEGE OVER THE YEARS. THIS COLLECTION RANGES FROM UNFRAMED REPRODUCTION POSTERS TO FINE CHINESE SILK PAINTING. MANY OF THESE OBJECTS ARE ON DISPLAY THROUGHOUT CAMPUS AND ENRICH CLASSROOM, COMMON, AND OFFICE SPACES. PART V, LINE 4: ENDOWMENT FUNDS ARE DONOR RESTRICTED AND ARE USED TO FUND FACULTY AND STUDENT FINANCIAL AID. PART X, LINE 2: MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE COLLEGE AND HAS CONCLUDED THAT AS OF JUNE 30, 2019 THERE WERE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OR DISCLOSURE IN THE ACCOMPANYING FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: POSTRETIREMENT CHANGES OTHER THAN NET PERIODIC BENEFIT COST 5,119,704. COGS 387,052. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 348,509. SPECIAL EVENTS EXPENSES 271,990. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 30,249,734. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 387,052. SPECIAL EVENTS EXPENSES 271,990. CHANGE IN ACCRUED SABBATICAL LEAVE 841,641. LOSS ON PLEDGE 1,000,000. CHANGE IN PLEDGE DISCOUNT -690,441. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 30,249,734. PART V, LINE 1B, COLUMNS (B) AND (C): THE ENDOWMENT SCHEDULE WAS RESTATED IN FY19 FOR THE INCLUSION OF PLEDGES, WHICH IS CONSISTENT WITH THE PRESENTATION IN THE AUDITED FINANCIAL STATEMENTS. 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 ST. JOHN'S COLLEGE NONDISCRIMINATION POLICY CAN BE FOUND IN BOTH ITS RECRUITMENT MATERIALS AND IN ITS STUDENT HANDBOOK. THE HANDBOOK IS DISTRIBUTED TO STUDENTS AS PART OF THE REGISTRATION PROCESS. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FUNDING FROM THE FOLLOWING SOURCES: PELL, COLLEGE WORK STUDY, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT, GUARANTEED STUDENT LOAN, THE STATE OF MARYLAND, AND THE STATE OF NEW MEXICO. ALL ASSISTANCE IS PROVIDED TO STUDENTS BASED ON FINANCIAL NEED. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 550594 CENTRAL AMERICA AND THE CARIBBEAN 0 0 GRANTMAKING 103250 EAST ASIA AND THE PACIFIC 0 0 GRANTMAKING 3458663 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTMAKING 392739 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTMAKING 523544 NORTH AMERICA 0 0 GRANTMAKING 50278 RUSSIA AND NEIGHBORING STATES 0 0 GRANTMAKING 192728 SOUTH AMERICA 0 0 GRANTMAKING 151684 SOUTH ASIA 0 0 GRANTMAKING 1449555 SUB-SAHARAN AFRICA 0 0 GRANTMAKING 1092641 0 0 0 0 0 0 5423480 2542196 7965676 SCHOLARSHIPS & ASSISTANCE CENTRAL AMERICA AND THE CARIBBEAN 3 103250 SCHOLARSHIPS & ASSISTANCE EAST ASIA AND THE PACIFIC 112 3458663 SCHOLARSHIPS & ASSISTANCE EUROPE (INCLUDING ICELAND & GREENLAND) 11 392739 SCHOLARSHIPS & ASSISTANCE MIDDLE EAST AND NORTH AFRICA 11 523544 SCHOLARSHIPS & ASSISTANCE NORTH AMERICA 1 50278 SCHOLARSHIPS & ASSISTANCE RUSSIA AND NEIGHBORING STATES 5 192728 SCHOLARSHIPS & ASSISTANCE SOUTH AMERICA 3 151684 SCHOLARSHIPS & ASSISTANCE SOUTH ASIA 31 1449555 SCHOLARSHIPS & ASSISTANCE SUB-SAHARAN AFRICA 21 1092641 1 0 0 0 1 0 PART I, LINE 2: THE COLLEGE MONITORS THE USE OF GRANT FUNDS TO INTERNATIONAL STUDENTS IN THE FINANCIAL AID OFFICE. PERSONNEL REVIEW STUDENT NEED ON A YEARLY BASIS AND AWARD GRANTS BASED ON NEED AND ELIGIBILITY. CROQUET 235979 39494 196485 8552 61442 350 22996 MUSIC ON THE HILL 70802 70802 10466 500 14713 9735 5 107053 0 107053 12579 80720 1500 48437 413834 110296 303538 31597 142662 16563 81168 271990 31548 1 SJC GRANTS (UNDERGRADUATE) 632 20561887 0 FEDERAL PELL GRANT PROGRAM 217 1040331 0 SJC GRANTS (GRADUATE) 102 820851 0 SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS 202 316063 0 MARYLAND STATE SCHOLARSHIP 15 89520 0 NEW MEXICO STATE INCENTIVE GRANTS 3 6000 0 PART I, LINE 2: THE COLLEGE MONITORS THE USE OF GRANT FUNDS IN THE FINANCIAL AID OFFICE. PERSONNEL REVIEW STUDENT NEED ON A YEARLY BASIS AND AWARD GRANTS BASED ON NEED AND ELIGIBILITY. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 MARK ROOSEVELT PRESIDENT - SANTA FE 260552 0 0 0 12345 0 16226 0 47576 0 336699 0 0 0 PANAYIOTIS PETER KANELOS PRESIDENT - ANNAPOLIS 239388 0 0 0 27824 0 14945 0 115294 0 397451 0 0 0 JOSEPH MACFARLAND DEAN - ANNAPOLIS 143556 0 0 0 0 0 9322 0 51603 0 204481 0 0 0 MICHAEL DURAN TREASURER - SANTA FE & CFO 170490 0 0 0 0 0 10816 0 22641 0 203947 0 0 0 RIMA ALLY GONTANG-HIGHFIELD TREASURER - ANNAPOLIS 133188 0 0 0 0 0 8540 0 30858 0 172586 0 0 0 PHELOSHA M COLLAROS VP OF DEVELOPMENT AND ALUMNI RELATIONS-SF 138342 0 0 0 0 0 8693 0 11245 0 158280 0 0 0 JAMES CAREY TUTOR - SANTA FE 103429 0 26585 0 0 0 9920 0 30423 0 170357 0 0 0 EMILY LANGSTON ASSOCIATE DEAN (GI) - ANNAPOLIS 121199 0 0 0 1500 0 7812 0 54199 0 184710 0 0 0 DAVID MCDONALD ASSOCIATE DEAN (GI) - SANTA FE 113474 0 1625 0 5799 0 9782 0 26872 0 157552 0 0 0 MICHAEL S GOLLUBER TUTOR - SANTA FE 114746 0 1625 0 0 0 9782 0 25600 0 151753 0 0 0 CHRISTOPHER NELSON TUTOR, FORMER PRESIDENT 101092 0 0 0 4178 0 6398 0 21747 0 133415 0 0 0 PART I, LINE 1A THE PRESIDENTS OF THE ANNAPOLIS (PETER KANELOS) AND SANTA FE (MARK ROOSEVELT) CAMPUSES ARE PROVIDED WITH HOUSING FOR THE CONVENIENCE OF THE COLLEGE AND IS A CONDITION OF EMPLOYMENT (PER EMPLOYMENT CONTRACT) THAT THE PRESIDENT RESIDE IN THE HOUSE PROVIDED. THE PRESIDENTS' HOMES ARE USED FOR MANY COLLEGE ACTIVITIES INCLUDING HOSTING EVENTS FOR STUDENTS, FACULTY, AND COLLEGE SUPPORTERS. THE CALCULATED NONTAXABLE BENEFIT RECEIVED BY EACH PRESIDENT FOR THE PERSONAL USE OF THE HOUSING AMOUNTED TO $70,430 AND $21,071 FOR ANNAPOLIS AND SANTA FE, RESPECTIVELY. IN ADDITION, PERSONAL SERVICES SUCH AS LANDSCAPER AND MAIDS ARE PROVIDED TO MAINTAIN THE UPKEEP ON THE RESIDENCE. A CITY OF ANNAPOLIS MARYLAND SERIES 2007A&B 526000764 035779CN5 2007-06-02 13689584 REFUNDED A PORTION OF 1998 BONDS 1 0 0 B PUBLIC FINANCE AUTHORITY 273866124 74442PCE3 2016-05-10 23866212 REFUNDED 1998, 2007B, AND 2011 SERIES BONDS, NEW MONEY 0 0 0 A 2298707 7820877 13689584 526850 265780 8171693 4725261 2008 0 1 1 1 B 910000 23866212 7820877 477324 8629341 6976916 634 2018 0 0 0 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 A 1 B 1 PART IV - NO REBATE DUE BOND A THE REBATE COMPUTATION FOR THE CITY OF ANNAPOLIS MARYLAND SERIES A&B BOND WAS PERFORMED ON JUNE 7, 2013. BOND B THE REBATE COMPUTATION FOR THE 2016 PUBLIC FINANCE AUTHORITY BOND WAS PERFORMED ON APRIL 30, 2019 AND NO REBATE LIABILITY EXISTS. JOSEPH MACFARLAND DEAN OF ANNNAPOLIS CAMPUS 21960 GRANT TUITION ASSISTANCE X 56 6094595 AVERAGE OF HIGH/LOW 0 1 0 PART I, COLUMN (B): THE TOTAL REPRESENTS THE TOTAL NUMBER OF CONTRIBUTIONS REVEIVED. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE COMPLETED FULL FORM 990 IS FURNISHED TO THE AUDIT AND COMPLIANCE COMMITTEE OF THE BOARD. THE COMMITTEE WILL CONDUCT A REVIEW OF THE 990. UPON DISCUSSION AND REVIEW, THE COMMITTEE WILL MOTION AND APPROVE THE ACCEPTANCE OF THE FORM 990 AND POST A COPY OF THE COMPLETED 990 (EXCLUDING SCHEDULE B) ON A SECURE PORTAL FOR FULL BOARD REVIEW. THE AUDIT AND COMPLIANCE COMMITTEE WILL ALSO GRANT THE CHIEF FINANCIAL OFFICER PERMISSION TO PROCEED WITH SIGNING AND FILING THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS MONITORED AND COMPLIANCE IS ENFORCED THROUGH A YEARLY STATEMENT ALONG WITH THE COLLEGE'S POLICY BEING DISTRIBUTED TO ALL BOARD MEMBERS, OFFICERS, AND KEY EMPLOYEES FOR REVIEW AND SIGNATURE. THE SIGNED STATEMENTS ARE RETURNED TO BOTH THE PRESIDENT OF THE ANNAPOLIS CAMPUS AND THE PRESIDENT OF THE SANTA FE CAMPUS FOR REVIEW AND FOLLOW-UP. ANY POTENTIAL CONFLICTS ARE DISCUSSED BETWEEN THE PARTIES AND A RESOLUTION IS MADE TO RESOLVE THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 WITH RESPECT TO THE COMPENSATION OF THE DEANS, VICE PRESIDENTS AND TREASURERS, THE PRESIDENTS CONSULTED WITH AN INDEPENDENT CONSULTING FIRM WHICH SPECIALIZES IN PROVIDING EXECUTIVE COMPENSATION ADVICE TO COLLEGES AND UNIVERSITIES. ONE OF THE PRIMARY PURPOSES OF ENGAGING AN OUTSIDE FIRM WAS TO ASSURE COMPLIANCE WITH IRS REGULATORY REQUIREMENTS REGARDING THE REASONABLENESS OF EXECUTIVE COMPENSATION IN 501(C)(3) ORGANIZATIONS. THE EXECUTIVE COMMITTEE HAS ESTABLISHED WHAT IS KNOWN AS A REBUTTABLE PRESUMPTION OF THE REASONABLENESS OF COMPENSATION BY SATISFYING THREE REGULATORY REQUIREMENTS: (1) COMPENSATION RECOMMENDATIONS HAVE BEEN DEVELOPED BY AN INDEPENDENT COMMITTEE OF THE BOARD, (2) APPROPRIATE COMPARABILITY DATA HAS BEEN USED (PROVIDED BY THE CONSULTANT BASED ON ITS SURVEY), AND (3) THE PROCESS HAS BEEN ADEQUATELY DOCUMENTED THROUGH THE MINUTES OF THE EXECUTIVE COMMITTEE. THAT COMMITTEE CONSIDERS THE RECOMMENDATIONS OF THE PRESIDENTS RELATIVE TO THE VICE PRESIDENTS AND TREASURERS, AND CONSIDERS THE PROJECTED FORMULA-BASED SALARIES OF THE DEANS, ALL IN LIGHT OF THE EXTERNAL COMPARISONS PROVIDED BY THE CONSULTANT. THE COMMITTEE ALSO CONSIDERS THE BENEFITS PROVIDED TO THE OFFICERS THAT MAKE UP A PART OF THE TOTAL COMPENSATION PACKAGE. THE EXECUTIVE COMMITTEE MAKES THE FINAL DECISIONS AS TO EACH INDIVIDUAL'S COMPENSATION. AS FOR THE RECOMMENDATIONS RELATIVE TO THE PRESIDENTS, THOSE SALARIES AND BENEFITS ARE REVIEWED BY THE EXECUTIVE COMMITTEE IN THE ABSENCE OF THE PRESIDENTS AND AFTER RECEIVING REPORTS FROM THE BOARD CHAIR CONCERNING THE PERFORMANCE OF THE PRESIDENTS UPON REVIEW BY THE PRESIDENTIAL REVIEW COMMITTEE. THE EXECUTIVE COMMITTEE REVIEWS THE SAME DATA AND COMPARISONS PROVIDED BY THE CONSULTANT FOR THE OTHER OFFICERS. THE EXECUTIVE COMMITTEE MAKES ITS RECOMMENDATION TO THE FULL BOARD, ACTING IN EXECUTIVE SESSION, WHICH ACTS AFTER GETTING THE FULL REPORT FROM THE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 FORM 1023, FORM 990, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. IN ADDITION, THE FORM 990 IS AVAILABLE ON GUIDESTAR (CANDID) AND THE CONFLICT OF INTEREST POLICY IS PUBLISHED ANNUALLY IN THE STAFF HANDBOOK. FORM 990, PART XI, LINE 9: POSTRETIREMENT CHANGES OTHER THAN NET PERIODIC BENEFIT COST 5,119,704. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 348,509. CHANGE IN ACCRUED SABBATICAL LEAVE -841,641. LOSS ON PLEDGE -1,000,000. CHANGE IN PLEDGE DISCOUNT 690,441. CHARITABLE REMAINDER UNITRUSTS (3) INVESTMENT MD N/A T 0 CHARITABLE REMAINDER UNITRUSTS (3) INVESTMENT NM N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0