2020-04-09T13:54:41-05:00 2019-05-31 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 1570 FRUITVILLE PIKE SUITE 400 LANCASTER PA 17601 990 2018-06-01 231352652 JUNIATA COLLEGE JUNI 8146413000 1700 MOORE STREET HUNTINGDON PA 16652 KARLA WISER CONTROLLER/CFO 8146413000 2020-04-07 1 KERRI N BOGDA CPA P00760402 7177404863 23.130.16.102 2020-04-07 10:55:57 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 AE0C272A69DD34E2EDF3B6A185DE1CF90EACE8A4 2018 2020-09-23 17:36:50Z JAMES TROHA 1700 MOORE STREET HUNTINGDON PA 16652 125918507 0 X WWW.JUNIATA.EDU X 1876 PA JUNIATA COLLEGE IS A PRIVATE LIBERAL ARTS COLLEGE IN HUNTINGDON, PA. 38 37 1332 1027 16115 15115 9416051 8960245 73441856 74017429 6722683 8361952 1595123 1499335 91175713 92838961 34868587 35621422 0 0 33933858 32139470 0 0 2133643 21623973 26366989 90426418 94127881 749295 -1288920 229911193 220996272 77663492 76491518 152247701 144504754 X THE COLLEGE HAS A TRADITION OF MAINTAINING THE SENSE OF PEACE, SIMPLICITY, COMMUNITY, AND SERVICE SET FORTH BY ITS CHURCH OF THE BRETHREN FOUNDERS. CONTINUED ON SCHEDULE O.THROUGH ENCOURAGING PERSONAL, INTELLECTUAL, PHYSICAL, AND SOCIAL GROWTH IN EACH STUDENT AND MODELING VALUES OF MUTUAL RESPECT AND COOPERATION IN ITS CAMPUS COMMUNITY, THE COLLEGE SEEKS, THROUGH PROVIDING AN ENGAGING PERSONALIZED EDUCATIONAL EXPERIENCE, TO DEVELOP IN ITS STUDENTS THE SKILLS, KNOWLEDGE, AND VALUES THAT LEAD TO A FULFILLING LIFE OF SERVICE AND ETHICAL LEADERSHIP IN THE GLOBAL COMMUNITY. 0 0 78925707 35621422 74017429 JUNIATA COLLEGE IS A NONPROFIT EDUCATIONAL INSTITUTION ESTABLISHED IN 1876 TO PROVIDE HIGHER EDUCATION TO STUDENTS. THE COLLEGE AWARDS GRANTS-IN-AID AND SCHOLARSHIPS FROM ITS UNRESTRICTED AND TEMPORARILY RESTRICTED NET ASSETS TO INDIVIDUALS WHO MEET THE COLLEGE'S ACADEMIC STANDARDS. THE AMOUNTS OF SUCH AWARDS ARE DETERMINED PRIMARILY BASED UPON THE ACADEMIC PERFORMANCE OF EACH APPLICANT. ADDITIONAL FINANCIAL AID IS PROVIDED TO STUDENTS FROM FEDERAL AND STATE PROGRAMS IN WHICH THE COLLEGE PARTICIPATES AND FROM MONIES CONTRIBUTED TO THE COLLEGE BY ALUMNI AND FRIENDS. CONTINUED ON SCHEDULE O.DURING THE YEAR ENDED MAY 31, 2019, THE COLLEGE PROVIDED STUDENT FINANCIAL AID FROM INTERNAL RESOURCES OF APPROXIMATELY $32,784,000, WHICH REPRESENTED 55% OF GROSS TUITION AND FEE REVENUE. STUDENT FINANCIAL AID FROM MONIES CONTRIBUTED TO THE COLLEGE BY ALUMNI AND FRIENDS WAS APPROXIMATELY $2,837,000. 78925707 1 1 0 0 0 0 0 1 1 1 1 0 0 1 1 1 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 189 0 1332 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 38 37 0 0 1 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 PA X KARLA WISER CONTROLLERCFO 8146413306 1700 MOORE STREET HUNTINGDON PA 16652 TIMOTHY D STATTON BS CHAIR 1.00 X X 0 0 0 MARY M WHITE BS MS VICE CHAIR 1.00 X X 0 0 0 GAIL M HABECKER BA BBA TREASURER 1.00 X X 0 0 0 CAROL J PAULLIN BS MED MBA SECRETARY 1.00 X X 0 0 0 CHRISTOPHER E BAIR BS MBA TRUSTEE 1.00 X 0 0 0 DAVID C BEACHLEY BS TRUSTEE 1.00 X 0 0 0 PAT CHANG-LO BS MS TRUSTEE 1.00 X 0 0 0 BRUCE DAVIS BA MFA TRUSTEE 1.00 X 0 0 0 RANDALL C DEIKE TRUSTEE (AS OF 9.1.18) 1.00 X 0 0 0 JAYNE K DONAHUE BS TRUSTEE 1.00 X 0 0 0 RICHARD J ENDRES BS TRUSTEE 1.00 X 0 0 0 DAVID J FAHEY BS TRUSTEE 1.00 X 0 0 0 SARAH YOUNG FISHER TRUSTEE (AS OF 9.1.18) 1.00 X 0 0 0 CARL D GLAESER BS TRUSTEE 1.00 X 0 0 0 JODIE MONGER GRAY BS MS PHD TRUSTEE 1.00 X 0 0 0 BARRY J HALBRITTER BS TRUSTEE 1.00 X 0 0 0 WILLIAM P HAYES BA TRUSTEE 1.00 X 0 0 0 NANCY H HESS BA MDIV TRUSTEE 1.00 X 0 0 0 NATHAN HEVRONY BS TRUSTEE 1.00 X 0 0 0 JOHN T HILL BA CPA TRUSTEE 1.00 X 0 0 0 STEVEN J HOLSINGER BA JD TRUSTEE 1.00 X 0 0 0 ERIC C JENSEN BS PHD TRUSTEE 1.00 X 0 0 0 ELAINE V JONES BS PHD TRUSTEE 1.00 X 0 0 0 RICHARD A LAABS BS TRUSTEE 1.00 X 0 0 0 FRED C MASON BS MBA TRUSTEE 1.00 X 0 0 0 ROBERT N MCDOWELL BA MA TRUSTEE 1.00 X 0 0 0 BRUCE L MOYER BA JD TRUSTEE 1.00 X 0 0 0 RICHARD E PAULHAMUS BS MS TRUSTEE 1.00 X 0 0 0 CAROL A PLETCHER BS MS PHD TRUSTEE 1.00 X 0 0 0 GAYLE W POLLOCK BS TRUSTEE 1.00 X 0 0 0 GARY A RAYMOND BA MD TRUSTEE 1.00 X 0 0 0 WILLIAM A RYS BA JD TRUSTEE 1.00 X 0 0 0 CHRISTOPH SCHWEMMLEIN BS EBCS MBA TRUSTEE 1.00 X 0 0 0 PARISHA P SHAH BS PHD TRUSTEE 1.00 X 0 0 0 HENRY F SIEDZIKOWSKI BA JD TRUSTEE 1.00 X 0 0 0 DANIEL K SUNDERLAND TRUSTEE (AS OF 9.1.18) 1.00 X 0 0 0 GEORGE P VALKO BS MD TRUSTEE 1.00 X 0 0 0 CHARLES W III WISE AB MBA TRUSTEE 1.00 X 0 0 0 TRACY L GRAJEWSKI BS MBA TRUSTEE (UNTIL 8.31.18) 1.00 X 0 0 0 JOHN A NAGL BS MPHIL TRUSTEE (UNTIL 8.31.18) 1.00 X 0 0 0 JAMES A TROHA BA MA PHD PRESIDENT (NON-VOTING) 40.00 X X 327340 0 94176 BETHANY D SHEFFIELD BA ASST SECRETARY 40.00 X 44250 0 21682 LAUREN BOWEN PHD PROVOST 40.00 X 173966 0 35810 GABRIEL J WELSCH MA VP MARKETING & COMMUNICATIONS 40.00 X 132935 0 32193 ROBERT E YELNOSKY BA VP ENROLLMENT 40.00 X 125530 0 66735 MATTHEW DAMSCHRODER PHD VP STUDENT LIFE 40.00 X 128268 0 17543 JAMES R WATT MA VP ADVANCEMENT 40.00 X 119266 0 15028 CHRISTINE GIBSON PHD VP FINANCE & ADMINISTRATION 40.00 X 170934 0 32897 LOREN K RHODES PHD PROFESSOR OF IT 40.00 X 122871 0 27325 GERALD W KRUSE PHD PROFESSOR OF MATH & COMP. SCIENCE 40.00 X 104446 0 96044 DOMINICK F PERUSO PHD PROFESSOR OF ACCOUNTING 40.00 X 122732 0 27712 PATRICIA C WEAVER PROFESSOR OF ACCOUNTING 40.00 X 120302 0 19053 DENNIS L JOHNSON PROFESSOR OF ENV. SCIENCE 40.00 X 100729 0 27797 1793569 0 513995 13 0 1 0 SODEXO INC CAMPUS BOX 936 JUNIATA COLLEGE HUNTINGDON PA 16652 FOOD SERVICES 3118975 PARKHURST DINING 285 EAST WATERFRONT DRIVE HOMESTEAD PA 15120 FOOD SERVICES 2502913 ASHLAND EQUIPMENT 1324 BRASS MILL ROAD BELCAMP MD 21017 CONSTRUCTION SERVICES 375165 ELLUCIAN 4 COUNTRY VIEW ROAD MALVERN PA 19355 IT SERVICES 240282 COGNITIVE MARKETING 1130 HIGHLAND AVENUE ROCHESTER NY 14620 MARKETING SERVICES 239801 11 19900 28300 1197793 7714252 387856 8960245 TUITION & FEES 611310 60039454 60039454 AUXILIARY ENTERPRISES 611310 13977975 13977975 74017429 2155535 16115 2139420 494945 356834 138111 138111 138111 38893939 32687522 6206417 6206417 6206417 9810 28300 35190 -25380 -25380 CONFERENCES 900099 681724 681724 FACILITIES RENT - OTHER 900099 132840 132840 ALUMNI EVENT INCOME 900099 75708 75708 496332 496332 1386604 92838961 74017429 16115 9845172 35621422 35621422 1008322 228167 412552 367603 21098874 16938700 3479485 680689 2018036 1552086 369047 96903 7034408 5410213 1286412 337783 979830 753594 179186 47050 95554 95554 554788 554788 2525538 2083474 420413 21651 67000 4995 62005 2018133 1682291 309001 26841 898474 508728 389746 1017470 29506 987964 1641986 1436018 124292 81676 1824195 1266206 557989 4135503 2650840 1484663 1574318 1021959 552359 FOOD SERVICES 4288681 3298455 784289 205937 PROGRAMMING 1385673 1065731 253404 66538 EQUIP REPAIR & MAINT 225929 173763 41317 10849 ATHLETIC SUPPLIES 184652 184652 3929095 3014907 724065 190123 94127881 78925707 13068531 2133643 20959 18486 4753659 5443975 5488286 7755641 3927258 960153 1259550 1096519 332996 302667 983912 536604 154522644 71408538 84927013 83114106 106347776 98636021 9746961 10249220 855328 750202 11267495 12132678 229911193 220996272 5956430 4342095 2225594 1661046 58720462 57753469 2971075 3078501 616795 2680840 7173136 6975567 77663492 76491518 X 43169522 41929198 32576755 33295491 76501424 69280065 152247701 144504754 229911193 220996272 X -1288920 -6871931 417904 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1656432 X X X 0 0 1 X 122539943 1732083 1369463 2513412 5299125 554788 117274164 116648822 2389340 11038018 7028429 507808 122539943 108027285 2653602 11990240 5701398 320907 116648822 112450993 2415570 -1677376 4764264 397638 108027285 108532152 2950655 5957556 1765872 2864286 359212 112450993 0.13400 0.86200 0.00400 0 0 3020496 3020496 124612205 53288378 71323827 22538796 17345922 5192874 4351147 774238 3576909 83114106 BOND ISSUANCE COSTS 571423 CASH SURRENDER VALUE OF LIFE INSURANCE 5803769 FUNDS HELD IN TRUSTS BY OTHERS 4101054 COLLECTIONS 1656432 12132678 FUNDS HELD IN CUSTODY FOR OTHERS 139789 STUDENT DEPOSITS & PREPAYMENTS 422499 POSTRETIREMENT BENEFITS 6310069 OBLIGATIONS UNDER CAPITAL LEASE 103210 6975567 X 49304970 -6871931 -36697250 -43569181 92874151 -35190 -35190 92838961 57047917 -903754 -903754 57951671 36176210 36176210 94127881 PART III, LINE 4: THE COLLEGE HAS MANY PAINTINGS, SCULPTURES, AND OTHER WORKS OF ART IN ITS COLLECTION. ARTWORK IS DISPLAYED THROUGHOUT THE CAMPUS, AS WELL AS IN THE COLLEGE'S ART MUSEUM. WORKS OF ART ARE STUDIED AND MAINTAINED BY STAFF AND STUDENTS. PART IV, LINE 2B: THE COLLEGE REPORTED ESCROW ACCOUNT LIABILITY ON THE BALANCE SHEET WHICH REPRESENTS THEIR PAYABLES FROM DEFERRED GIVING ACCOUNTS. PART V, LINE 4: INCOME FROM THE ENDOWMENT FUND IS USED FOR SCHOLARSHIPS AND TO SUPPORT OTHER INSTITUTIONAL FUNCTIONS. PART X, LINE 2: THE COLLEGE ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES USING A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD IS MET. MANAGEMENT DETERMINED THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD AT MAY 31, 2019 AND 2018. THE COLLEGE'S POLICY IS TO RECOGNIZE INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FMV OF FUNDS HELD IN TRUST BY OTHERS -41,692. CHANGE IN THE VALUATION OF SPLIT-INTEREST AGREEMENTS DUE TO OTHERS -479,348. INDIVIDUAL SCHOLARSHIPS NETTED TO TUITION ON THE FINANCIAL STATEMENTS -35,621,422. INVESTMENT MANAGEMENT FEES NETTED TO REVENUES ON FINANCIAL STATEMENTS -554,788. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES -35,190. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES 35,190. CHANGE IN THE VALUATION OF CSV OF LIFE INSURANCE NETTED TO PREMIUMS ON FS -938,944. PART XII, LINE 4B - OTHER ADJUSTMENTS: INDIVIDUAL SCHOLARSHIPS NETTED TO TUITION ON THE FINANCIAL STATEMENTS 35,621,422. INVESTMENT MANAGEMENT FEES NETTED TO REVENUES ON FINANCIAL STATEMENTS 554,788. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 NOTICE OF NONDISCRIMINATORY POLICY AS TO STUDENTS WAS ADVERTISED IN "THE DAILY NEWS," A NEWSPAPER OF GENERAL CIRCULATION IN HUNTINGDON COUNTY. THE POLICY IS ALSO NOTED IN THE BYLAWS, CATALOGS, WEBSITE, HANDBOOKS, AND JOB ANNOUNCEMENTS. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES VARIOUS GRANTS AND ASSISTANCE FROM FEDERAL AND STATE AGENCIES FOR THE FUTHERANCE OF ITS CHARITABLE PURPOSE. EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES HIGHER EDUCATION - STUDY ABROAD PROGRAM 224946 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES HIGHER EDUCATION - STUDY ABROAD PROGRAM 306306 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 PROGRAM SERVICES HIGHER EDUCATION - STUDY ABROAD PROGRAM 12628 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 PROGRAM SERVICES HIGHER EDUCATION - STUDY ABROAD PROGRAM 91807 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PROGRAM SERVICES HIGHER EDUCATION - STUDY ABROAD PROGRAM 21633 RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, 0 0 PROGRAM SERVICES HIGHER EDUCATION - STUDY ABROAD PROGRAM 9325 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 PROGRAM SERVICES HIGHER EDUCATION - STUDY ABROAD PROGRAM 97620 0 0 0 0 0 0 764265 0 764265 1 0 0 0 0 0 GOLF OUTING 38110 28300 9810 30208 4982 38110 28300 9810 30208 4982 35190 -25380 1 INSTITUTIONAL SCHOLARSHIPS AND GRANTS 1442 35621422 0 CASH N/A PART I, LINE 2: ELIGIBILITY FOR NEED-BASED GRANTS IS DETERMINED BY THE SUBMISSION OF THE "FREE APPLICATION" FOR FEDERAL STUDENT AID. MERIT SCHOLARSHIPS AND AWARDS ARE DETERMINED BY A STUDENT'S ADMISSION APPLICATION. X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 JAMES A TROHA BA MA PHD PRESIDENT (NON-VOTING) 308199 0 0 0 19141 0 31564 0 62612 0 421516 0 0 0 LAUREN BOWEN PHD PROVOST 168225 0 0 0 5741 0 17494 0 18316 0 209776 0 0 0 GABRIEL J WELSCH MA VP MARKETING & COMMUNICATIONS 132924 0 0 0 11 0 13956 0 18237 0 165128 0 0 0 ROBERT E YELNOSKY BA VP ENROLLMENT 125530 0 0 0 0 0 13200 0 53535 0 192265 0 0 0 CHRISTINE GIBSON PHD VP FINANCE & ADMINISTRATION 170934 0 0 0 0 0 17500 0 15397 0 203831 0 0 0 LOREN K RHODES PHD PROFESSOR OF IT 115146 0 0 0 7725 0 11909 0 15416 0 150196 0 0 0 GERALD W KRUSE PHD PROFESSOR OF MATH & COMP. SCIENCE 104196 0 0 0 250 0 11028 0 85016 0 200490 0 0 0 DOMINICK F PERUSO PHD PROFESSOR OF ACCOUNTING 92307 0 0 0 30425 0 9578 0 18134 0 150444 0 0 0 PART I, LINE 1A THE PRESIDENT OF THE COLLEGE HAS A RESIDENCE PROVIDED TO HIM AS PART OF HIS COMPENSATION PACKAGE. IN ADDITION TO THE RESIDENCE, HOUSEKEEPING SERVICES, SUCH AS CLEANING AND MAINTENANCE, ARE ALSO PROVIDED BY THE COLLEGE. LIMITED TRAVEL FOR THE PRESIDENT'S SPOUSE IS PROVIDED AS WELL. THESE BENEFITS ARE NOT TAXABLE INCOME TO THE PRESIDENT AS THEY ARE CONSIDERED ESSENTIAL TO PERFORMING HIS WORK FOR THE COLLEGE. A HUNTINGDON COUNTY GENERAL AUTHORITY 236632278 2004-11-30 6000000 SEE PART VI 0 0 0 B FULTON BANK NA 231928421 2016-05-23 5138058 SEE PART VI 0 0 0 C FULTON BANK NA 231928421 2016-05-23 7690000 SEE PART VI 0 0 0 D HUNTINGDON COUNTY GENERAL AUTHORITY 236632278 44586SAP3 2016-05-12 34547786 SEE PART VI 0 0 0 A 2398000 6000000 6000000 2005 0 0 1 1 B 1185705 5138058 5138058 2016 1 0 1 1 C 7690000 7690000 2016 0 1 1 1 D 34547786 147014 34400772 2016 0 1 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 D 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 D 0 1 0 0 1 0 0 0 1 A 1 B 1 C 1 D 1 SCHEDULE , PART I, COLUMN F, DESCRIPTION OF PURPOSE: ISSUE A: CONSTRUCTION AND EQUIPPING CAMPUS PROJECTS ISSUE B: CURRENT REFUNDING OF THE 2007 BONDS ISSUE C: ADVANCE REFUNDING OF THE 2010 BONDS ISSUE D: ADVANCE REFUNDING OF THE 2010 BONDS, FINANCING OF CAPITAL PROJECTS, AND PAYMENT OF BOND ISSUANCE COSTS. ISSUE E: CURRENT REFUNDING OF THE 2013 BONDS AND ISSUANCE COSTS A HUNTINGDON COUNTY GENERAL AUTHORITY 236632278 44586SBD9 2018-05-01 7910995 SEE PART VI 0 0 0 A 7910995 157195 7753800 2018 1 0 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 1 A 1 230000 SEE PART V TUITION SCH L, PART III, GRANTS OR ASSISTANCE BENEFITTING INTERESTED PERSONS: (C) AMOUNT OF GRANTS $230,000(D) TYPE OF ASSISTANCE: SCHOLARSHIPS/AWARDS(E) PURPOSE OF ASSISTANCE: TUITION X 2 3550 FMV X 9 267229 FMV X 1 115180 FMV X VARIOUS ITEMS & DISCOUNTS ON PRINTED ITEMS 4 1357 FMV X SUBSCRIPTION TO CONSTANT CONTACT 1 540 FMV 0 1 0 PART I, COLUMN (B): THE NUMBER IN COLUMN (B) ABOVE REPRESENTS THE TOTAL NUMBER OF CONTRIBUTORS FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE OFFICERS OF THE BOARD WHO ARE VOTING TRUSTEES, THE CHAIR OR, IN THE ABSENCE OF THE CHAIR, THE VICE-CHAIR OF EACH STANDING COMMITTEE OF THE BOARD, AND TWO OTHER VOTING TRUSTEES ELECTED BY THE BOARD. THE COMMITTEE SHALL HAVE AND MAY EXERCISE ALL OF THE POWERS AND AUTHORITY OF THE BOARD WHEN THE BOARD IS NOT IN SESSION IN THE MANAGEMENT OF THE BUSINESS AND AFFAIRS OF THE COLLEGE, EXCEPT THAT THE COMMITTEE SHALL NOT HAVE THE POWER AND AUTHORITY TO (I) ADOPT, AMEND OR REPEAL THE ARTICLES OF INCORPORATION OR BYLAWS OF THE COLLEGE, (II) ADOPT, AMEND OR REPEAL THE CHARTER OF ANY COMMITTEE OF THE BOARD, (III) TAKE ANY ACTION DELEGATED BY CHARTER TO ANOTHER COMMITTEE OF THE BOARD, (IV) CREATE OR FILL ANY VACANCY ON THE BOARD, (V) SELECT OR TERMINATE THE PRESIDENT OF THE COLLEGE OR ANY OFFICER OF THE BOARD, (VI) INCUR CORPORATE INDEBTEDNESS, (VII) SELL OR OTHERWISE DISPOSE OF REAL ESTATE AND OTHER TANGIBLE PROPERTY, (VIII) ADOPT AN ANNUAL BUDGET, (IX) CONFER DEGREES, OR (X) TAKE ANY ACTION INCONSISTENT WITH A PRIOR RESOLUTION OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 4 THE COLLEGE BYLAWS WERE AMENDED AS OF JULY 21, 2019 TO REFLECT THE CHANGES IN COMMITTEE STRUCTURE OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B COLLEGE OFFICERS WERE GIVEN A COPY OF THE FORM 990 TO REVIEW IN DETAIL. THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES REVIEWED THE FULL 990 DURING AN AUDIT COMMITTEE MEETING. IN ORDER TO RESPECT THE PRIVACY OF DONORS, THE COLLEGE PROVIDED ALL TRUSTEES WITH A PUBLIC DISCLOSURE COPY OF THE 990 BUT MADE A FULL COPY OF THE RETURN AVAILABLE TO THEM UPON REQUEST. ANY QUESTIONS, COMMENTS, AND OTHER CONCERNS WERE ADDRESSED PRIOR TO THE E-FILING OF THE RETURN WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, THE BOARD OF TRUSTEES AND OFFICERS INDIVIDUALLY SIGN CONFLICT OF INTEREST POLICIES THAT ARE MAINTAINED IN THE OFFICIAL RECORDS OF THE COLLEGE. COMPLIANCE WITH THIS POLICY IS MONITORED BY THE DIRECTOR OF HUMAN RESOURCES WHO ENSURES THAT ALL FORMS ARE COMPLETED ANNUALLY. ANY MEMBER WITH A CONFLICT MAY PARTICIPATE IN THE DISCUSSION, BUT MUST ABSTAIN FROM VOTING ON THE MATTER RELATED TO HIS OR HER CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE PERFORMANCE OF THE PRESIDENT AND RECOMMENDS TO THE FULL BOARD OF TRUSTEES THE PRESIDENT'S COMPENSATION AFTER REVIEWING COMPARABLE INFORMATION FROM OTHER SOURCES. COMPENSATION REVIEW IS PREPARED BY USING CUPAHR DATA ON DEMAND. THE COMPARISON GROUP REVIEWED INCLUDES SCHOOLS WITH SIMILAR BUDGETS AND ENROLLMENT SIZES. THE COMPARISON GROUP INCLUDES PEERS, ASPIRANTS, US NEWS & WORLD REPORT TIER 2 SCHOOLS, LANDMARK CONFERENCE, CENTENNIAL CONFERENCE AND A SELECT GROUP OF PA SCHOOLS. THE REVIEW AND APPROVAL IS DOCUMENTED BY HUMAN RESOURCES AND MINUTES OF THE BOARD OF TRUSTEE MEETINGS. THE SAME PROCESS IS FOLLOWED FOR OTHER OFFICERS, BUT THE SALARY RECOMMENDATIONS ARE APPROVED BY THE PRESIDENT. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS, AND APPLICABLE TAX DOCUMENTS AVAILABLE FOR INSPECTION OR REVIEW AT THE ADMINISTRATIVE OFFICES ON CAMPUS UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN FMV OF FUNDS HELD IN TRUST BY OTHERS -41,692. CHANGE IN THE VALUATION OF SPLIT-INTEREST AGREEMENTS -479,348. CHANGE IN THE VALUATION OF CASH SURRENDER VALUE OF LIFE INSURANCE 938,944.