2020-06-11T12:22:12-05:00 2019-06-30 GRANT THORNTON LLP 171 N CLARK ST SUITE 200 CHICAGO IL 60601 990 2018-07-01 362169145 Elmhurst College % NANCY CONROY ELMH 6306173012 190 Prospect Avenue Elmhurst IL 601263296 CINDY GONYA VP BUS. & FINANCE 6306173012 2020-06-10 true BRIDGET T ROCHE P00666837 3128560200 73.211.227.250 36941220201635000003 2020-06-11 P 6A114492425344B191C5A256E0FD2BCC7BB222A4 4FF71384A0DDC11449CB15F01FBC28CFB7635BED 2018 2021-01-29 14:40:06Z Dr Troy VanAken 190 Prospect Avenue Elmhurst IL 601263296 240483234 false X www.elmhurst.edu X 1942 IL ELMHURST COLLEGE INSPIRES INTELLECTUAL AND PERSONAL GROWTH IN OUR STUDENTS, PREPARING THEM FOR MEANINGFUL AND ETHICAL CONTRIBUTIONS TO A DIVERSE, GLOBAL SOCIETY. 37 36 1870 828 201634 43477 3632641 4984203 114394671 114531237 6344511 10435110 1322989 1948577 125694812 131899127 49189977 50339391 0 0 41022310 42411806 0 0 2219067 27287145 26737568 117499432 119488765 8195380 12410362 188662047 201127798 81720095 87591521 106941952 113536277 X ELMHURST COLLEGE INSPIRES INTELLECTUAL AND PERSONAL GROWTH IN OUR STUDENTS, PREPARING THEM FOR MEANINGFUL AND ETHICAL CONTRIBUTIONS TO A DIVERSE, GLOBAL SOCIETY. false false 76535687 50339391 108010611 INSTRUCTION - ELMHURST COLLEGE PROVIDES POST-SECONDARY EDUCATION THROUGH APPROXIMATELY 30 ACADEMIC DEPARTMENTS AND OFFERS MORE THAN 66 MAJORS IN EDUCATION, 18 MASTER'S DEGREE PROGRAMS AND 15 PRE-PROFESSIONAL PROGRAMS. IN ADDITION, THE ELMHURST LEARNING AND SUCCESS ACADEMY OFFERS A NON-DEGREE PROGRAM FOR YOUNG ADULTS WITH LEARNING, INTELLECTUAL, COGNITIVE, PHYSICAL, AND/OR SENSORY DISABILITIES. SCHOLARSHIPS AND GRANTS - WE ASSIST OUR STUDENTS WITH A COMPREHENSIVE RANGE OF FINANCIAL AID PROGRAMS, INCLUDING INSTITUTIONAL MERIT-BASED SCHOLARSHIPS, INSTITUTIONAL AND GOVERNMENTAL NEED-BASED GRANTS. APPROXIMATELY 90% OF THE FULL TIME UNDERGRADUATE STUDENTS WHO ENTERED COLLEGE IN THE FALL RECEIVED SUCH SCHOLARSHIPS AND GRANTS. 20776060 0 6520626 STUDENT SERVICES - INCLUDES STUDENT AFFAIRS, ADMISSIONS, REGISTRAR, FINANCIAL AID COUNSELING, SOCIAL AND CULTURAL DEVELOPMENT, WELLNESS CENTER, AND ATHLETICS. STUDENT LIFE AT ELMHURST IS ACTIVE AND CREATIVE ALLOWING STUDENTS TO GET INVOLVED IN DIVERSE AREAS INCLUDING STUDENT GOVERNMENT, 'THE LEADER' STUDENT NEWSPAPER, BLACK STUDENT UNION, HABITAT FOR HUMANITY, SAGE (STRAIGHTS AND GAYS FOR EQUALITY), H.A.B.L.A.M.O.S. (A LATINO STUDENT ORGANIZATION), MODEL UN, WRSE RADIO STATION, AND MANY OTHER GROUPS AS WELL AS INTERCOLLEGIATE SPORTS AND INTRAMURAL ACTIVITIES. 6792475 0 0 ACADEMIC SUPPORT - ACADEMIC DEAN, LIBRARY SERVICES, ACADEMIC ADVISING AND ACADEMIC COMPUTING ARE INCLUDED IN ACADEMIC SUPPORT. THE A.C. BUEHLER LIBRARY PROVIDES MANY TECHNOLOGICALLY ADVANCED SERVICES FOR INSTRUCTIONAL AND INFORMATIONAL RESEARCH, OR FOR PERSONAL ENJOYMENT WITH WIRELESS ACCESS THROUGHOUT. 104104222 true true false false false false false true false true true true false false true true true false true false true true false false true false false false true true true false false false false false false false false false false true false false false false true false false false true 254 0 true 1870 true true true false false false false true true false false false false false false X 37 36 false false false false false false false true true false false true true true true true true true true false CA X NANCY CONROY 6306173327 190 PROSPECT AVENUE Elmhurst IL 601263296 Edward J Momkus Chair 2.0 0.0 X X 0 0 0 Hugh H McLean Vice Chair 2.0 0.0 X X 0 0 0 Sergio E Acosta Trustee 1.0 0.0 X 0 0 0 FATIMA ALI Trustee (BEG 03/19) 1.0 0.0 X 0 0 0 The Honorable William J Bauer Trustee 1.0 0.0 X 0 0 0 Julius Wesley Becton III Trustee 2.0 0.0 X 0 0 0 Susan Bowers Trustee 2.0 0.0 X 0 0 0 Kenne P Bristol Trustee 2.0 0.0 X 0 0 0 Frank Cerrone Trustee 1.0 0.0 X 0 0 0 Sarah Clarin Trustee 2.0 0.0 X 0 0 0 Julie Curran Trustee 2.0 0.0 X 0 0 0 Kent T Dahlgren Trustee 1.0 0.0 X 0 0 0 Sharon Reese Dalenberg Trustee 1.0 0.0 X 0 0 0 Dr Cathy Doucette Trustee 2.0 0.0 X 0 0 0 Maricela Guzman Trustee (BEG 03/19) 1.0 0.0 X 0 0 0 L Bernard Jakes Trustee 1.0 0.0 X 0 0 0 Steven Jemison Trustee (BEG 12/18) 1.0 0.0 X 0 0 0 Rajeev Khanna Trustee 2.0 0.0 X 0 0 0 Alfred N Koplin Trustee 1.0 0.0 X 0 0 0 Michelle Lanter Smith Trustee 1.0 0.0 X 0 0 0 Barbara J Lucks Trustee 2.0 0.0 X 0 0 0 JoAnn M McGuinness Trustee 2.0 0.0 X X 0 0 0 Bill Nelson Trustee 2.0 0.0 X 0 0 0 Judith A Paice Trustee 2.0 0.0 X 0 0 0 Paula Pforzheimer Trustee 1.0 0.0 X 0 0 0 Virginia Prochaska Trustee 2.0 0.0 X 0 0 0 Nathan Richey Trustee 1.0 0.0 X 0 0 0 Frank Ruffolo Trustee 2.0 0.0 X 0 0 0 Jean E Sander Trustee 2.0 0.0 X 0 0 0 Rudolf G Schade Jr Trustee 2.0 0.0 X 0 0 0 Eva W Tameling Trustee 2.0 0.0 X 0 0 0 Rev Robert O Ullman Trustee 2.0 0.0 X 0 0 0 Michael Wagner Trustee (BEG 10/18) 1.0 0.0 X 0 0 0 Russell G Weigand Trustee 2.0 0.0 X 0 0 0 James S Yerbic Trustee 2.0 0.0 X 0 0 0 The Honorable Kevin L York Trustee 2.0 0.0 X 0 0 0 Dr Troy D VanAken President 50.0 0.0 X X 469526 0 100879 Karen Brown-Kissel VP Finance&Admin (THRU 10/18) 50.0 0.0 X 152810 0 30280 April Edwards VP Academic Affairs 50.0 0.0 X 208991 0 23728 Kurt Ashley VP Information Officer 50.0 0.0 X 176872 0 25262 CINDY GONYA VP BUS, FIN & TREAS (BEG 5/19) 50.0 0.0 X 0 0 0 Valerie Day VP Development/Alumni 50.0 0.0 X 170071 0 59664 Phillip Riordan VP Student Affairs 50.0 0.0 X 178163 0 31675 Timothy Ricordati VP Admissions 50.0 0.0 X 164611 0 38924 Melinda Barber Interim VP Finance (THRU 4/19) 50.0 0.0 X 141120 0 22519 Diane Salvador Exec. Dir Nursing 50.0 0.0 X 143552 0 15897 Lawrence Carroll Executive Director, CPE 50.0 0.0 X 126541 0 26179 Kathleen Rust Professor Business Admin 50.0 0.0 X 124289 0 13733 Gary Wilson Professor Business Admin 50.0 0.0 X 116882 0 21917 2173428 0 410657 17 false true false Compass Two LLC 2400 Yorkmont Rd CHARLOTTE NC 28217 Food Service 1900768 Ruffalo Noel-Levitz LLC PO Box 718 DES MOINES IA 50303 ADMISSION CONSULTING 445178 Momentum Inc 1520 4th Ave SEATTLE WA 98101 Project Management 228455 Seminars International 55 E Monroe St CHICAGO IL 60603 EDUCNL TRAVEL 193147 Grant Thornton LLP 171 N Clark Suite 200 CHICAGO IL 60601 Audit & Taxes 168138 7 14609 944441 4025153 918411 4984203 STUDENT TUITION AND FEES 812900 108010611 108010611 0 0 RESIDENCE HALLS 721310 6020971 6020971 0 0 ATHLETIC, ARTS & CULTURE 812900 403681 403681 0 0 GRANT AND LOAN ADMINISTRATION FEES 812900 67004 67004 0 0 COMMUNITY EDUCATION 812900 28970 28970 0 0 114531237 1889453 102087 1787366 0 0 87797 0 87797 87797 83515 4282 117104977 108559320 8545657 8545657 8545657 18091 14609 24787 -6696 -6696 0 0 0 0 0 0 FOOD SERVICE 721310 625166 0 0 625166 OUTSIDE PRINTING 323100 592 0 0 592 . 0 0 0 0 1241718 0 16032 1225686 1867476 131899127 114531237 201634 12182053 0 50328881 50328881 10510 10510 0 1495814 1268450 175010 52354 0 32389511 27466305 3789573 1133633 1519214 1288293 177749 53172 4609764 3909080 539342 161342 2397503 2033081 280509 83913 333036 333036 52341 52341 168138 168138 0 0 90418 90418 5103518 5103518 1860876 1578023 217722 65131 1686147 1429853 197279 59015 1740746 1476153 203667 60926 4663 3954 546 163 2386240 2023532 279190 83518 3353479 2843750 392357 117372 0 0 2996115 2540706 350545 104864 0 3598951 3051911 421077 125963 383950 325590 44922 13438 EQUIPMENT RENTAL/MAINTENANCE 673628 571237 78814 23577 LIBRARY BOOKS & PERIODICALS 496478 421013 58088 17377 NON-CAPITAL EQUIPMENT 333554 282854 39026 11674 MEMBERSHIPS & SUBSCRIPTIONS 228796 194019 26769 8008 1246494 1057027 145840 43627 119488765 104104222 13165476 2219067 3945232 6404529 11683669 17032624 796670 847687 1155599 1917824 0 0 0 0 1102139 903519 73330 82867 1328197 1721543 145114487 87353640 57459662 57760847 990325 0 109390080 113927950 0 0 0 0 737144 528408 188662047 201127798 6747166 7386545 0 0 3129036 2813484 56911276 56967298 0 0 0 0 0 0 0 0 14932617 20424194 81720095 87591521 X 55226797 56928294 20523837 22005377 31191318 34602606 106941952 113536277 188662047 201127798 X 12410362 -493693 2600 90418 -5415362 X false true X false true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X false 109076598 -3581913 8961132 1319295 2507945 110628577 101462649 2264429 9200285 1161252 2689513 109076598 90442021 1121035 10605181 1307032 -601444 101462649 96373053 590339 -2390895 1300730 2829746 90442021 101733079 288061 2675525 1255561 7068051 96373053 0.53260 0.30680 0.16060 false false 3036281 3036281 106104298 59813759 46290539 17107904 15948046 1159858 18866004 11591835 7274169 57760847 COMMINGLED FUNDS 87079301 F LIMITED PARTNERSHIPS 26848649 F 113927950 0 INTEREST RATE SWAP AGREEMENT 15649490 OTHER LIABILITIES 2138331 ASSET RETIREMENT OBLIGATION 1159821 STUDENT LOAN ADVANCES FROM US GOVT 1143005 LIFE INCOME AGREEMENTS PAYABLE 234111 CAPITAL LEASE OBLIGATION 99436 20424194 X 75677837 -493693 2600 -5415281 -5906374 81584211 50314916 50314916 131899127 69083512 24475 24475 69059037 90418 50339310 50429728 119488765 FINANCIAL STATEMENT FOOTNOTE SCHEDULE D, PART III, LINE 1A PURCHASES OF LIBRARY BOOKS ARE CAPITALIZED BASED ON THE INDIVIDUAL BOOK COST COMPARED TO THE CAPITALIZATION POLICY. THE LIBRARY BOOKS NOT CAPITALIZED ARE RECORDED AS EXPENSES. WORKS OF ART ARE CAPITALIZED IF THE COST OR FAIR MARKET VALUE IS KNOWN AT THE TIME OF RECEIPT OR PURCHASE, PER THE CAPITALIZATION POLICY. DESCRIPTION OF ORGANIZATION'S COLLECTIONS SCHEDULE D, PART III, LINE 4 THE AFRICAN COLLECTIONS, PROFESSIONAL COLLECTIONS AND HISTORIC PORTRAIT COLLECTIONS OF PAINTINGS, DRAWINGS, LITHOGRAPHS, PHOTOGRAPHS, AND SCULPTURES ARE MADE AVAILABLE TO STUDENTS, FACULTY AND STAFF AND OUTSIDE CONSTITUENTS FOR THEIR EDUCATIONAL VALUE, FOR LECTURES AND PLEASURES OF VIEWING. INTENDED USES OF ENDOWMENT FUNDS SCHEDULE D, PART V, LINE 4 THE PURPOSE OF THE ENDOWMENT IS TO SUPPORT THE COLLEGE AND ITS MISSION OVER THE LONG TERM. ACCORDINGLY, THE PRIMARY INVESTMENT OBJECTIVES OF THE ENDOWMENT ARE TO: A. PRESERVE AND INCREASE LONG-TERM REAL PURCHASING POWER OF THE FUNDS PRINCIPAL B. PROVIDE ONGOING FINANCIAL SUPPORT IN THE FORM OF SCHOLARSHIPS, AWARDS, FACULTY CHAIRS, LECTURESHIPS, BOOK FUNDS AND OTHER SPECIFIED PURPOSES IN ACCORDANCE WITH THE BOARD OF TRUSTEE'S INVESTMENT POLICIES AND DONOR RESTRICTED AGREEMENTS C. PROVIDE A STABLE SOURCE OF FINANCIAL SUPPORT FOR THE COLLEGES ANNUAL OPERATING BUDGET POLICY AS SET BY THE BOARD OF TRUSTEES D. ACHIEVE A LONG RETURN ON THE PORTFOLIO OF THE GREATER OF 7% OR 5% PLUS THE AVERAGE CHANGE IN THE CONSUMER PRICE INDEX OVER THE PRIOR FIVE YEARS. LIABILITY FOR UNCERTAIN TAX POSITION (ASC 740) SCHEDULE D, PART X, LINE 2 THE COLLEGE HAS RECEIVED A FAVORABLE DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE STATING THAT IT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986 (IRC), EXCEPT FOR INCOME TAXES PERTAINING TO UNRELATED BUSINESS INCOME. THE FINANCIAL ACCOUNTING STANDARDS BOARD ISSUED GUIDANCE THAT REQUIRES TAX EFFECTS FROM UNCERTAIN TAX POSITIONS TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS ONLY IF THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. MANAGEMENT HAS DETERMINED THERE ARE NO MATERIAL UNCERTAIN POSITIONS THAT REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS. THE COLLEGE HAS ACCRUED A MODEST PROVISION FOR FEDERAL INCOME TAXES AND STATE INCOME TAXES FOR ILLINOIS, CALIFORNIA, OREGON AND VIRGINIA. THE COLLEGE HAS HAD NO SIGNIFICANT UNRELATED BUSINESS INCOME. SUPPLEMENTAL DESCRIPTION - OTHER SCHEDULE D, PART XI, LINE 2D CHANGE IN VALUE OF INTEREST-RATE SWAP...........$ (5,271,650) INVESTMENT EXPENSES.............................$ (90,418) ANNUITY COST RECLASS............................$ (28,811) CHANGE IN BENEFICIAL INTEREST IN TRUSTS.........$ (24,402) TOTAL...........................................$ (5,415,281) SUPPLEMENTAL DESCRIPTION - OTHER SCHEDULE D, PART XI, LINE 4B SCHOLARSHIPS AND GRANTS.........................$ 50,339,391 DISCOUNT INSTRUCTIONAL PROGRAM..................$ 312 FUNDRAISING EXPENSES/LOSS.......................$ (24,787) TOTAL...........................................$ 50,314,916 SUPPLEMENTAL DESCRIPTION - OTHER SCHEDULE D, PART XII, LINE 2D FUNDRAISING EXPENSE/LOSS........................$ 24,787 DISCOUNT INSTRUCTIONAL PROGRAM..................$ (312) TOTAL...........................................$ 24,475 SUPPLEMENTAL DESCRIPTION - OTHER SCHEDULE D, PART XII, LINE 4B SCHOLARSHIPS AND GRANTS.........................$ 50,339,391 RESTRUCTURING PAYMENTS..........................$ (81) TOTAL...........................................$ 50,339,310 true true true true true true true false false false false false false false false true false true PUBLICATION OF RACIALLY NONDISCRIMINATORY POLICY SCHEDULE E, PART I, LINE 3 ELMHURST COLLEGE POLICY IS THAT OF NON-DISCRIMINATION OF THE PUBLIC SERVED BY THE INSTITUTION AND WITH RESPECT TO THE COLLEGE PERSONNEL. ADVERTISEMENTS, PUBLICATIONS, BROCHURES, APPLICATIONS FOR ADMISSION, ETC., CONTAIN A STATEMENT TO THE EFFECT THAT THE COLLEGE COMPLIES WITH THE FEDERAL NON-DISCRIMINATION REGULATIONS, AND THEREBY DOES NOT DISCRIMINATE ON THE BASIS OF RACE, GENDER, RELIGION, COLOR, NATIONAL ORIGIN, AGE, SEXUAL ORIENTATION, OR HANDICAP DISABILITY. GOVERNMENT ASSISTANCE SCHEDULE E, PART I, LINE 6A THE COLLEGE RECEIVES GOVERNMENTAL FINANCIAL AID, GRANTS AND ASSISTANCE FROM THE US DEPARTMENT OF EDUCATION, STATE OF ILLINOIS, AND THE LOCAL GOVERNMENT. true Europe (Including Iceland and Greenland) 0 0 Grantmaking Study Abroad 10510 0 0 0 0 10510 10510 Europe (Including Iceland and Greenland) Study Abroad 10510 WIRE TRANS 1 false false false false false false PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS OUTSIDE THE U.S. SCHEDULE F, PART I, LINE 2 THE STUDY ABROAD DEPARTMENT MANAGES PROGRAM, INCLUDING SELECTING CREDENTIALED UNIVERSITIES, AND CONTRACTUAL TERMS OF PERFORMANCE, AND OBTAINING STUDENTS COMPLETION DOCUMENTATION. THERE ARE FEW NUMBER OF INSTANCES IN WHICH OUR COLLEGE SENDS STUDENTS OVERSEAS FOR A SEMESTER AND INCURS AN EXPENSE FROM THE RECEIVING UNIVERSITY. THE MAJORITY OF STUDY ABROAD INSTANCES ARE WITHIN CONTRACTUAL EXCHANGE ARRANGEMENTS WITHIN A NETWORK OF INTERNATIONAL UNIVERSITIES AND DICTATED BY CONTRACTUAL TERMS IN WHICH NO MONEY IS EXCHANGED, AND OUR STUDENTS STUDY ABROAD AND AN EQUIVALENT NUMBER OF STUDENTS ENROLLED AT NETWORK UNIVERSITIES STUDY AT OUR CAMPUS FOR 1 OR 2 SEMESTERS. OR THE EXCHANGE IS SPONSORED THROUGH A US BASED ORGANIZATION. METHOD USED TO ACCOUNT FOR EXPENDITURE & CASH GRANTS SCHEDULE F, PART I, LINE 3, COLUMN (F) AND PART II, LINE 1 THE COLLEGE ACCOUNTS FOR EXPENDITURES AND CASH GRANTS USING THE ACCRUAL METHOD. BJB - Football 11845 6283 5562 1000 1310 BJB - Athl. 20855 8326 12529 17225 5251 0 32700 14609 18091 1000 17225 6561 24786 -6695 true SEOG Fed supplemental Grant 1124 347659 0 Endowed Scholarships 392 1191732 0 Donor Funded Scholarship 256 431880 0 Institutionally Funded 3167 48368119 0 Procedure For Monitoring the Use of Grant Funds Inside the U.S. SCHEDULE I, PART I, LINE 2 THE COLLEGE OFFERS A WIDE VARIETY OF MERIT AND NEED-BASED SCHOLARSHIPS AND AWARDS TO MATRICULATING STUDENTS. MERIT AWARDS ARE GIVEN IN RECOGNITION OF VARIOUS ACHIEVEMENTS AS SPECIFIED IN DONORS' CORRESPONDENCE AND DOCUMENTS, OR BY COLLEGE POLICY. NEED-BASED AWARDS ARE PROVIDED BASED ON THE INCOME LEVEL, AVAILABILITY OF AWARDS OFFERED ELSEWHERE AND SIMILAR STANDARDS. THE COLLEGE'S FINANCIAL AID OFFICE USES VARIOUS METHODS FOR THE FAIR DISBURSEMENT OF GRANT FUNDS WITHIN THE REQUIREMENTS SET BY EACH GRANT SOURCE TO MONITOR COMPLIANCE. THE COLLEGE PRIMARILY MAKES SCHOLARSHIP GRANTS THAT HELP OFFSET TUITION AND OTHER EDUCATIONAL COSTS OF THE STUDENTS, WITH MOST DIRECTLY CREDITED AGAINST THE APPLICABLE STUDENT ACCOUNT, WHICH ASSURES PROPER USE. THE AMOUNT OF THE GRANT IS ADJUSTED BY THE FINANCIAL AID OFFICE, AS NECESSARY, BASED ON ANY SUBSEQUENT CHANGES AFFECTING THE STUDENT'S ORIGINAL ELIGIBILITY. X X X true true X X X X X false false false false false false false false false Dr Troy D VanAken President 404819 0 30000 0 34707 0 17000 0 84539 0 571065 0 0 0 Karen Brown-Kissel VP Finance&Admin (THRU 10/18) 140898 0 0 0 11912 0 9501 0 21318 0 183629 0 0 0 April Edwards VP Academic Affairs 197798 0 5000 0 6193 0 11312 0 12954 0 233257 0 0 0 Kurt Ashley VP Information Officer 167025 0 2500 0 7347 0 10050 0 22903 0 209825 0 0 0 Valerie Day VP Development/Alumni 159537 0 10000 0 534 0 9804 0 50343 0 230218 0 0 0 Phillip Riordan VP Student Affairs 174528 0 2500 0 1135 0 10859 0 21319 0 210341 0 0 0 Timothy Ricordati VP Admissions 160481 0 2500 0 1630 0 10255 0 29266 0 204132 0 0 0 Melinda Barber Interim VP Finance (THRU 4/19) 137679 0 3000 0 441 0 8403 0 14767 0 164290 0 0 0 Diane Salvador Exec. Dir Nursing 142293 0 0 0 1259 0 8343 0 8083 0 159978 0 0 0 Lawrence Carroll Executive Director, CPE 109877 0 0 16664 0 7243 0 19263 0 153047 0 0 0 HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE SCHEDULE J, PART I, LINE 1A THE PRESIDENT IS BEING PROVIDED A HOUSE AS A CONVENIENCE TO THE COLLEGE AT 360 COTTAGE HILL AVENUE IN ELMHURST. THIS ALLOWS THE INDIVIDUAL TO CONDUCT BUSINESS AFFAIRS AND BE AVAILABLE TO RESPOND TO EMERGENT SITUATIONS THAT MAY ARISE. AS A CONDITION OF EMPLOYMENT, THE PRESIDENT OF ELMHURST COLLEGE IS REQUIRED TO RESIDE AT THE RESIDENCE THAT ALSO SERVES AS A VENUE TO CARRY OUT REGULAR COLLEGE BUSINESS INCLUDING ENTERTAINMENT OF TRUSTEES, EMPLOYEES, STUDENTS, DONORS, AND GUESTS OF THE COLLEGE. IRS FORM 990 INSTRUCTIONS REQUIRE THAT THE FAIR MARKET VALUE OF HOUSING PROVIDED TO EMPLOYEES BE REPORTED ON FORM 990, PART VII, SECTION A, COLUMN (D) AND SCHEDULE J, PART II, COLUMN (D) AS A NONTAXABLE BENEFIT. FOR TAX YEAR 2018 THE VALUE OF THE RESIDENCE IS CONSERVATIVELY ESTIMATED TO BE $69,363. THE COLLEGE HAS DETERMINED THAT THE VALUE OF THE HOUSING IS NOT CONSIDERED TAXABLE INCOME TO THE PRESIDENT DR. TROY D. VANAKEN AS PROVIDED FOR IN INTERNAL REVENUE CODE SECTION 119. DURING TAX YEAR 2018, THE PRESIDENT MADE THE RESIDENCE THEIR HOME FOR THE ENTIRE FISCAL YEAR. SCHEDULE J, PART II, COLUMN (D) INCLUDES $69,363 OF VALUE ASSOCIATED WITH THE USE OF THE RESIDENCE PROVIDED BY THE COLLEGE. TRAVEL FOR COMPANIONS SCHEDULE J, PART I, LINE 1A TRAVEL EXPENSE REIMBURSEMENT FOR COMPANIONS IS ONLY ALLOWED FOR THE PRESIDENT AS PER HIS CONTRACT. ACCORDING TO HIS CONTRACT, WHEN DR. TROY D. VANAKEN'S SPOUSE IS REQUIRED TO ATTEND AN EVENT IN WHICH DR. VANAKEN IS REPRESENTING THE COLLEGE ON OFFICIAL COLLEGE BUSINESS, THE BUSINESS RELATED TRAVEL EXPENSES FOR DR. VANAKEN'S SPOUSE WILL ALSO BE REIMBURSED BY THE COLLEGE. THE SPOUSE'S TRAVEL IS NOT CONSIDERED TAXABLE ONLY WHEN THE PURPOSE IS TO CONDUCT BUSINESS ON BEHALF OF THE COLLEGE. THIS CONTRACT IS REVIEWED BY THE HUMAN RESOURCES COMMITTEE AND APPROVED BY THE FULL BOARD OF TRUSTEES. PERSONAL SERVICES (E.G., MAIL, CHAUFFEUR, CHEF) SCHEDULE J, PART I, LINE 1A AN OUTSIDE SERVICE IS USED AS NEEDED TO MAINTAIN OR TO PROVIDE ANY OTHER CLEANING SERVICES NECESSARY FOR THE BUSINESS FUNCTION OF THE PRESIDENT'S HOUSE. A ILLINOIS FINANCE AUTHORTIY 861091967 000000000 2016-12-13 20200000 Refunding of 1998 and 1999 bonds false false false B ILLINOIS FINANCE AUTHORITY 861091967 000000000 2017-12-27 37160000 Refunding of 2003 and 2007 bonds false false false A 0 0 20200000 0 0 0 200000 0 0 0 20000000 0 2002 true false true true B 0 0 37160000 0 0 0 260000 0 0 0 36900000 0 2010 true false true true A 0 B false false true true false false 0 0.03200 0.03200 true false false true A false true false true true true JPMORGAN CHASE 16.25 false false false 0 false true B false false true false true true BANK OF AMERICA 23.75 false false false 0 false true A true B true DESCRIPTION OF TAX EXEMPT BOND PURPOSE Schedule K, Part I, Column (F), Line B THE BONDS WERE ISSUED TO (I) CURRENTLY REFUND AND REDEEM ALL OF THE OUTSTANDING SERIES 2003 AND 2007 ELMHURST COLLEGE BONDS (II) CURRENTLY REFUND AND REDEEM ALL OF THE OUTSTANDING 2003 AND 2007 ELMHURST COLLEGE BONDS, AND (III) FINANCE OR REIMBURSE THE COLLEGE FOR CERTAIN COSTS INCURRED IN CONNECTION WITH THE ISSUANCE OF THE BOND AND CURRENT REFUNDING REDEMPTION OF THE REFUNDED BONDS. REBATE COMPUTATION DATE SCHEDULE K, PART IV, COLUMN (A), LINE 2C: REBATE COMPUTATION PERFORMED 5/26/2017. X 999 FMV X 11 899596 market value X 2 15449 COST X FRAMING FOR ART 1 1295 FMV X PIANO SHEET MUSIC 1 500 FMV X COMPUTER DESKS AND CHAIRS 1 330 FMV X BLACKHAWK TICKETS 1 242 FMV false true false Sch M, Part I, Line 33 ELMHURST COLLEGE IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. 1098-T FORMS FORM 990, PART V, LINE 1A THE TOTAL ON THIS LINE DOES NOT INCLUDE 4,631 FORM 1098-T'S, WHICH THE UNIVERSITY IS REQUIRED TO FILE WITH THE IRS AND PROVIDE TO ITS U.S. PERSON STUDENTS. AUTHORITY DELEGATED TO EXECUTIVE COMMITTEE FORM 990, PART VI, LINE 1A ACCORDING TO THE COLLEGE'S BYLAWS, THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE CHAIR AND VICE CHAIR OF THE BOARD OF TRUSTEES; THE PRESIDENT OF THE COLLEGE; THE CHAIRS OF THE BUSINESS, DEVELOPMENT AND FACULTY AND CURRICULUM COMMITTEES; THE TRUSTEE WHO IS THE IMMEDIATE PAST CHAIR OF THE BOARD OF TRUSTEES; AND TWO TRUSTEES WHO SERVE AS AT LARGE MEMBERS OF THE COMMITTEE. THE AT LARGE MEMBERS WILL BE RECOMMENDED BY THE TRUSTEESHIP COMMITTEE TO THE BOARD FOR APPROVAL, AND WILL SERVE A TERM OF TWO YEARS ON A ROTATING BASIS. THE CHAIR OF THE BOARD OF TRUSTEES MAY DESIGNATE ANY TRUSTEE WHO IS NOT MEMBER OF THE EXECUTIVE COMMITTEE TO SERVE AS A MEMBER OF THE EXECUTIVE COMMITTEE AT ANY SPECIFIED MEETING OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL BE RESPONSIBLE FOR THE PERIODIC REVIEW AND ASSESSMENT OF THE PRESIDENT. THE EXECUTIVE COMMITTEE SHALL SERVE AS A SALARY REVIEW AND PERSONNEL COMMITTEE AND AS A FINAL REVIEWING COMMITTEE FOR GRIEVANCES, AND SHALL CONSIDER CONFIDENTIAL MATTERS BROUGHT BY INDIVIDUAL TRUSTEES. THE EXECUTIVE COMMITTEE SHALL ACT FOR THE BOARD BETWEEN REGULAR SESSIONS OF THE BOARD IN SUCH MATTERS AS IN THE JUDGMENT OF THE CHAIR OF THE EXECUTIVE COMMITTEE SHALL REQUIRE IMMEDIATE ACTION, WITH SUCH ACTIONS SUBJECT TO RATIFICATION AND REVIEW OF THE BOARD, AND SHALL TRANSACT OTHER BUSINESS AS MAY BE COMMITTED TO IT BY THE BOARD. THE EXECUTIVE COMMITTEE SHALL SERVE AS A PLANNING COMMITTEE, MONITOR THE PLANNING AS PRESENTED ANNUALLY BY THE PRESIDENT, PROVIDE STRATEGIC OVERVIEW AND OVERSIGHT OF COMMITTEE ACTIVITIES RELATING TO SUCH PLANS, AND RECOMMEND TO THE BOARD OF TRUSTEES THE INSTITUTIONAL PLANS THAT ARE IN THE BEST INTEREST OF THE COLLEGE. THE COMMITTEE MAY INVITE OTHER MEMBERS OF THE BOARD OF TRUSTEES TO ATTEND A MEETING OF THE EXECUTIVE COMMITTEE WITH VOICE BUT NOT VOTE. FORM 990 REVIEW PROCESS FORM 990, PART VI, LINE 11B THE FINAL REVIEW FORM 990 AND ITS VARIOUS SCHEDULES WERE PREPARED BY A NATIONAL CPA FIRM, AND THEN WERE REVIEWED BY THE KEY OFFICERS OF THE ORGANIZATION PRIOR TO MAKING IT AVAILABLE TO THE BOARD OF TRUSTEES. AFTER THE KEY OFFICERS REVIEWED THE FORM, IT WAS DISTRIBUTED TO THE AUDIT COMMITTEE OF THE TRUSTEES AT THEIR SPRING MEETING. IDENTIFIED NECESSARY CHANGES WERE INCORPORATED FOLLOWING THE BOARD REVIEW PROCESS AND A FINAL COPY OF THE FILING WAS MADE AVAILABLE TO ALL MEMBERS OF THE BOARD OF TRUSTEES PRIOR TO FILING. CONFLICT OF INTEREST POLICY MONITORING & ENFORCEMENT FORM 990, PART VI, LINE 12C CONFLICT OF INTEREST FORMS ARE SENT TO TRUSTEES, OFFICERS, KEY EMPLOYEES (AS APPLICABLE) AND OTHERS FOR COMPLETION. THE COMPLETED FORMS ARE RETURNED TO AND REVIEWED BY THE BOARD AUDIT COMMITTEE CHAIR. THE AUDIT COMMITTEE CHAIR TOGETHER WITH THE AUDIT COMMITTEE IS RESPONSIBLE FOR ADMINISTRATION OF THIS POLICY. MATTERS OF CONCERN ARE BROUGHT TO THE CHAIR OF THE BOARD OF TRUSTEES OR THE PRESIDENT. APPROVAL OF COMPENSATION TRANSACTIONS AND OTHER TRANSACTIONS COVERED BY THE POLICY ARE DONE THROUGH A REVIEW COMPOSED ENTIRELY OF INDIVIDUALS WHO DO NOT HAVE ANY CONFLICT OF INTEREST WITH RESPECT TO THE ARRANGEMENT OR TRANSACTION AT HAND. PERSONS DETERMINED TO HAVE A CONFLICT OF INTEREST ARE PROHIBITED FROM PARTICIPATING IN THE GOVERNING BODY'S DELIBERATIONS AND DECISIONS IN TRANSACTIONS WHICH MAY RELATE TO THE CONFLICT. THEY RELY UPON INDEPENDENT COMPARABILITY DATA OR VALUATIONS PRIOR TO MAKING A DETERMINATION. MATTERS RELATED TO COMPENSATION RELY ON EXTERNAL EXPERTISE IN HIGHER EDUCATION. PROCESS FOR DETERMINING PRESIDENT'S COMPENSATION FORM 990, PART VI, LINE 15A THE CURRENT PRESIDENT WAS HIRED EFFECTIVE JULY 1, 2016 AS THE RESULT OF THE PRESIDENTIAL SEARCH COMMITTEE THAT WAS CHAIRED BY A COLLEGE TRUSTEE AND ADVISED BY A THIRD PARTY CONSULTING FIRM. THE BOARD APPROVED THE PRESIDENT'S CONTRACT WHICH SPANS THE FOUR YEARS ENDING JUNE 30, 2020, AND THE CONTRACT DEFINES THE TERMS OF COMPENSATION, WHICH WAS BASED ON A REVIEW OF COMPARABLE COMPENSATION OF SIMILARLY QUALIFIED PERSONS, SIMILAR POSITIONS, AND SIMILAR ORGANIZATIONS. THE PRESIDENTS SALARY IS TO BE REVIEWED ANNUALLY AND THE SALARY MAY BE ADJUSTED UPWARD, BY THE SOLE DISCRETION OF THE BOARD, BASED ON THE BOARD'S ASSESSMENT OF THE PRESIDENTS' PERFORMANCE. COMPENSATION IS CONTEMPORANEOUSLY DOCUMENTED WITHIN THE PRESIDENTIAL SEARCH COMMITTEE RECORDS. PROCESS FOR DETERMINING OFFICER'S COMPENSATION FORM 990, PART VI, LINE 15B TOP MANAGEMENT'S (VICE PRESIDENTS AND DEANS) SALARIES ARE REVIEWED ANNUALLY BY A PROCESS SIMILAR TO ALL OTHER EMPLOYEES. THE PRESIDENT PERFORMS A FORMAL EVALUATION. USING THE CUPA-HR ANNUAL SALARY SURVEY--THE ANNUAL PERFORMANCE EVALUATION AND THE FINANCIAL CONSTRAINTS OF THE COLLEGE--THE PRESIDENT THEN DETERMINES THE SALARY REVISIONS WHICH ARE REVIEWED BY THE HUMAN RESOURCES COMMITTEE OF THE BOARD OF TRUSTEES. ALL OTHER KEY EMPLOYEE SALARIES ARE REVIEWED ANNUALLY BY A SIMILAR PROCESS AS THE TOP MANAGEMENT. FORMAL PERFORMANCE EVALUATIONS ARE PERFORMED BY THE SUPERVISOR OF EACH KEY EMPLOYEE WITH RECOMMENDATIONS FOR SALARY REVISIONS PROVIDED TO THE TOP MANAGEMENT EMPLOYEE OVER THAT AREA OF RESPONSIBILITY. THE EVALUATIONS AND RECOMMENDATIONS TOGETHER WITH THE COMPARISON TO THE CUPA-HR ANNUAL SALARY SURVEY AND THE PRESET BUDGET FOR SALARY INCREASES ARE REVIEWED BY EACH TOP MANAGEMENT ADMINISTRATOR WITH RECOMMENDATIONS PRESENTED TO THE PRESIDENT. FINAL APPROVAL IS GIVEN BY THE PRESIDENT. MINUTES OF THE HUMAN RESOURCES COMMITTEE DOCUMENT THE DETERMINATIONS MADE DURING EXECUTIVE SESSION. HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC FORM 990, PART VI, LINE 19 THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS OF THE COLLEGE ARE AVAILABLE UPON REQUEST. THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE PROVIDED TO VARIOUS STATE AGENCIES, US DEPARTMENT OF EDUCATION, VARIOUS BANKS AND OTHERS PER AGREEMENT. THE CONFLICT OF INTEREST POLICY IS SENT ANNUALLY TO ALL MEMBERS OF THE BOARD OF TRUSTEES, OFFICERS, KEY EMPLOYEES AND OTHER IDENTIFIED EMPLOYEES. OTHER CHANGES IN NET ASSETS OR FUND BALANCES FORM 990, PART XI, LINE 9 CHANGE IN VALUE OF INTEREST-RATE SWAP...........$ (5,271,650) CHANGE IN BENEFICIAL INTEREST IN TRUSTS.... ....$ (24,402) ANNUITY COST RECLASS............................$ (28,811) INVESTMENT EXPENSES.............................$ (90,481) ROUNDING........................................$ (81) TOTAL...........................................$ (5,415,425) JOEL HERTER CHARITABLE RMNDR UNITRUST 190 PROSPECT AVENUE Elmhurst IL 60126 364572843 C.R. UNITRUST IL ELMHURST COL Trust false WEIGAND 2 LIFE CHAR REMAINDER UNITRUST 190 PROSPECT AVENUE Elmhurst IL 60126 367614572 C.R. UNITRUST IL ELMHURST COL Trust false WEIGAND 2 LIFE CHAR REMAINDER UNITRUST 2 190 PROSPECT AVENUE Elmhurst IL 60126 826192286 C.R. UNITRUST IL ELMHURST COL Trust false