2020-07-15T11:22:01-05:00 2019-06-30 BKD LLP 312 WALNUT STREET SUITE 3000 CINCINNATI OH 45202 990 2018-07-01 610444671 CENTRE COLLEGE % SCOTT OWENS CENT 8592385451 600 WEST WALNUT STREET DANVILLE KY 40422 BRIAN HUTZLEY VP, CFO & TREASURER 2020-05-15 true Aaron Hershberger P00961884 5136218300 167.68.126.162 15750420201975000054 2020-07-15 P 5ECFD7F4488FEC6F6ABE53B187DEB4499E915412 FDEAFD0406FF7141BFF80F52237CA5777F98C136 2018 2020-09-23 17:36:50Z DR JOHN A ROUSH 600 WEST WALNUT STREET DANVILLE KY 40422 141899314 false X WWW.CENTRE.EDU X 1819 KY CENTRE COLLEGE IS AN EDUCATIONAL COMMUNITY DEDICATED TO STUDY IN THE LIBERAL ARTS AS A MEANS TO DEVELOP THE INTELLECTUAL, PERSONAL, AND MORAL POTENTIAL OF ITS STUDENTS. 40 40 1465 108 207501 12516533 17737417 74160523 75276675 13428477 10586450 261852 320609 100367385 103921151 32941372 35068177 0 0 31201410 31025892 0 0 2084748 34585475 35711526 98728257 101805595 1639128 2115556 462594453 513736308 94106831 135451923 368487622 378284385 X CENTRE COLLEGE IS A SMALL, INDEPENDENT, AND SELECTIVE EDUCATIONAL COMMUNITY DEDICATED TO STUDY IN THE LIBERAL ARTS AS A MEANS TO DEVELOP THE INTELLECTUAL, PERSONAL, AND MORAL POTENTIAL OF ITS STUDENTS. CENTRE NURTURES IN ITS STUDENTS THE ABILITY TO THINK LOGICALLY AND CRITICALLY, TO WORK CREATIVELY, TO ANALYZE AND COMPARE VALUES, AND TO WRITE AND SPEAK WITH CLARITY AND GRACE. IT ACQUAINTS STUDENTS WITH THE RANGE OF ACCOMPLISHMENTS OF THE HUMAN MIND AND SPIRIT IN A VARIETY OF ARTS AND THEORETICAL DISCIPLINES. IT ENABLES STUDENTS TO CHOOSE AND FULFILL SIGNIFICANT RESPONSIBILITIES IN SOCIETY. IN SHORT, CENTRE'S HIGHEST PRIORITY IS TO PREPARE ITS STUDENTS FOR LIVES OF LEARNING, LEADERSHIP, AND SERVICE. false false 88245863 35068177 75545041 FOUNDED IN 1819, THE SOLE MISSION OF CENTRE, A NATIONALLY RANKED RESIDENTIAL CO-ED PRIVATE LIBERAL ARTS COLLEGE, IS TO PROVIDE EXCEPTIONAL POST-SECONDARY UNDERGRADUATE EDUCATION TO ITS STUDENTS. WE GUARANTEE THE OPPORTUNITY TO STUDY ABROAD, TO HAVE AN INTERNSHIP, AND TO GRADUATE IN FOUR YEARS. TO DEVELOP A GLOBAL PERSPECTIVE, ABOUT 85 PERCENT OF OUR STUDENTS STUDY ABROAD, WITH CENTRE PROFESSORS, AT LEAST ONCE. COUPLED WITH SMALL CLASSES, HIGH GRADUATION RATES, ENGAGED PROFESSORS, AND REAL-WORLD PREPARATION FOR CAREER, GRADUATES ENJOY A HIGH SUCCESS RATE FOR EMPLOYMENT OR GRADUATE DEGREE ACCEPTANCE. 88245863 true true false false false false false true false true true true false true true false true false true true true false true false false false false false true true true false false false false false false true true true true true false false false false true false false false true 1834 0 1465 true true true true FR UK false false false true true false false false false false false X 40 40 true false false false false false false true true false false true true true true true true true false false KY X SCOTT OWENS 8592385457 600 WEST WALNUT STREET DANVILLE KY 40422 MARK E NUNNELLY BOARD CHAIRMAN 1.0 0.0 X X 0 0 0 JAMES C SEABURY III BOARD VICE CHAIRMAN 1.0 0.0 X X 0 0 0 CRIT LUALLEN SECRETARY 1.0 0.0 X X 0 0 0 ROBERT T BROCKMAN LIFE TRUSTEE 1.0 0.0 X 0 0 0 J DAVID GRISSOM LIFE TRUSTEE 1.0 0.0 X 0 0 0 RANDAL B KELL LIFE TRUSTEE 1.0 0.0 X 0 0 0 NELSON D RODES JR LIFE TRUSTEE 1.0 0.0 X 0 0 0 THOMAS R BAEKER TRUSTEE 1.0 0.0 X 0 0 0 JOHN R BARTON TRUSTEE 1.0 0.0 X 0 0 0 BENJAMIN BEATON TRUSTEE 1.0 0.0 X 0 0 0 WILLIAM S BOWMER III TRUSTEE 1.0 0.0 X 0 0 0 ANITA M BRITTON TRUSTEE 1.0 0.0 X 0 0 0 SHEILA A BURKS TRUSTEE 1.0 0.0 X 0 0 0 RUTHERFORD B CAMPBELL TRUSTEE 1.0 0.0 X 0 0 0 JENNIE P CARLSON TRUSTEE 1.0 0.0 X 0 0 0 GREG W CAUDILL TRUSTEE 1.0 0.0 X 0 0 0 PAUL W CHELLGREN TRUSTEE 1.0 0.0 X 0 0 0 JESS CORRELL TRUSTEE 1.0 0.0 X 0 0 0 ROBERT L ELLIOTT TRUSTEE 1.0 0.0 X 0 0 0 BARB EMLER TRUSTEE 1.0 0.0 X 0 0 0 ANGIE EVANS TRUSTEE 1.0 0.0 X 0 0 0 SANDRA FRAZIER TRUSTEE 1.0 0.0 X 0 0 0 CRAIG HILLE TRUSTEE 1.0 0.0 X 0 0 0 G WATTS HUMPHREY TRUSTEE 1.0 0.0 X 0 0 0 LEA STROMIRE JOHNSON TRUSTEE 1.0 0.0 X 0 0 0 BETH P KLEIN TRUSTEE 1.0 0.0 X 0 0 0 TAO LE TRUSTEE 1.0 0.0 X 0 0 0 JEFF MACKIN TRUSTEE 1.0 0.0 X 0 0 0 KENNETH J MARDICK TRUSTEE 1.0 0.0 X 0 0 0 DARYLL W MARTIN TRUSTEE 1.0 0.0 X 0 0 0 THOMAS H MEEKER TRUSTEE 1.0 0.0 X 0 0 0 BRIAN MEFFORD TRUSTEE 1.0 0.0 X 0 0 0 JOHN H NEWMAN TRUSTEE 1.0 0.0 X 0 0 0 PEGGY P PATTERSON TRUSTEE 1.0 0.0 X 0 0 0 GEORGE W PRIVETT JR TRUSTEE 1.0 0.0 X 0 0 0 RICHARD RINEY TRUSTEE 1.0 0.0 X 0 0 0 EDDY ROBERTS JR TRUSTEE 1.0 0.0 X 0 0 0 JAMES A SMITH TRUSTEE 1.0 0.0 X 0 0 0 LEE TATUM TRUSTEE 1.0 0.0 X 0 0 0 KEVIN D TAYLOR TRUSTEE 1.0 0.0 X 0 0 0 JOHN A ROUSH PRESIDENT 50.0 0.0 X 437060 0 34256 BRIAN HUTZLEY VP, CFO AND TREASURER 50.0 0.0 X 224885 0 21525 JAMES P LEAHEY VP FOR LEGAL AFFAIRS AND GIFT 50.0 0.0 X 157040 0 19456 SHAWN LYONS VP FOR DEVELOPMENT AND ALUMNI 50.0 0.0 X 151668 0 24907 KAY DRAKE VP FOR HUMAN RESOURCES 50.0 0.0 X 130932 0 14909 STEPHANIE FABRITIUS VP ACADEMIC DEAN 50.0 0.0 X 190608 0 20918 BRIAN CUSATO INTERIM VP ACADEMIC DEAN 50.0 0.0 X 122020 0 10490 WM RANDY HAYS VP, DEAN OF STUDENT LIFE 50.0 0.0 X 127929 0 15000 ROBERT NESMITH DEAN ADMISSION & FINANCIAL 50.0 0.0 X 106471 0 21728 STEVE HOFFMAN EXECUTIVE DIRECTOR 50.0 0.0 X 128759 0 18750 MICHAEL STRYSICK CHIEF COMMUNICATIONS OFFICER 50.0 0.0 X 111142 0 14567 1888514 0 216506 27 false true false SODEXO INC AFFILIATES PO BOX 70060 CHICAGO IL 60673 FOOD SERVICE 4241754 HASTINGS AND CHIVETTA ARCHITECTS I SUITE 200 622 EMERSON ST LOUIS MO 63141 ARCHITECTURAL 1174934 ARCO NATIONAL CONSTRUCTION CO 900 N ROCK HILL ROAD ST LOUIS MO 63119 CONSTRUCTION 7439019 ENTERPRISE SOLUTIONS 1300 FORT NEGELY BLVD NASHVILLE TN 37203 ENERGY CONSULTANTS 1939465 EISEN GROUP LLC 3300 PANEL WAY ST CHARLES MO 63301 CONSTRUCTION 785281 19 176071 17561346 2347015 17737417 COMPREHENSIVE FEE 611710 74141181 74141181 AUXILIARY SERVICES 611710 1135494 1135494 75276675 6297217 207501 6089716 0 0 0 0 0 42267396 37978163 4289233 4289233 4289233 0 0 0 0 0 0 0 0 0 MISCELLANEOUS 900099 268366 268366 FITNESS CENTER 900099 52243 52243 320609 103921151 75545041 207501 10431192 0 32852129 32852129 2216048 2216048 0 1366175 377866 763830 224479 45413 45413 22419588 17060672 4319151 1039765 1868400 1421920 347788 98692 3699928 2719592 832006 148330 1626388 1227803 311065 87520 0 137836 137836 102967 102967 0 0 1578141 1578141 0 318078 55777 262301 891286 614657 235084 41545 201619 57705 42966 100948 0 3044507 1190312 1754195 100000 2447573 2307123 107882 32568 0 48610 698 47912 3222041 3222041 0 4307835 4146588 161247 470613 470613 FOREIGN STUDIES PROGRAMS 2530710 2530710 LIBRARY OPERATIONS 1412383 1412383 NORTON ARTS CENTER PROGRAMS 1164930 1164930 PLANNED PROJECT COSTS 2586117 2586117 11246280 11035379 210901 101805595 88245863 11474984 2084748 0 0 13089500 249587 23194383 28361108 1715844 200767 0 0 0 0 801544 733464 168273 170221 371840 936238 216962784 98398492 105408998 118564292 126955766 109400578 160406759 198055503 0 0 0 0 30481546 57064550 462594453 513736308 6563026 7286106 0 0 0 0 74718329 112303166 0 0 0 0 0 0 0 0 12825476 15862651 94106831 135451923 X 127348633 127505806 71992699 78719576 169146290 172059003 368487622 378284385 462594453 513736308 X 2115556 11074797 -3393590 X false true X true true true X 7482441 10797666 14454148 12516533 17737417 62988205 0 0 7482441 10797666 14454148 12516533 17737417 62988205 20700503 42287702 3686548 4010222 3673122 4151247 6297217 21818356 0 84709 78207 79660 52754 52243 347573 85154134 353519942 0.49660 0.58715 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 578725 X X X false 323809590 -595283 20939678 6243094 5732830 1578141 330599920 314331271 -7517792 29691028 5663195 5429510 1602212 323809590 273857968 11593132 42774663 5877463 6700311 1316718 314331271 285886308 -5242540 5132946 4892290 5667649 1358807 273857968 267165187 15329127 14453606 4651683 5194588 1215341 285886308 0.33790 0.14300 0.51910 true false 11819749 11819749 153390763 72293420 81097343 25678955 22447148 3231807 26073317 3657924 22415393 118564292 PRIVATE EQUITY SECURITIES 64095528 F SMALL CAP EQUITIES 30317270 F ALTERNATIVE PUBLIC EQUITIES 41649470 F LARGE CAP EQUITIES 61993235 F 198055503 FUNDS HELD IN TRUST BY OTHERS 30783825 BONDS HELD BY TRUSTEE 26215503 OTHER RECEIVABLES 65222 57064550 0 FAIR VALUE OF INTEREST RATE SWAPS 12014439 ANNUITY PAYMENT & LIFE INCOME 2224993 ADVANCES FROM FEDERAL GOV'T 546067 DEPOSITS AND AGENCY FUNDS 1077152 15862651 74956040 11074797 -38461767 -27386970 102343010 1578141 1578141 103921151 65159277 65159277 1578141 35068177 36646318 101805595 SCHEDULE D, PART III, LINE 4 COLLECTIONS INCLUDE PAINTINGS, GLASS AND SCULPTURE. THE ART COLLECTION EXISTS PRIMARILY TO HELP FULFILL THE LIBERAL ARTS EDUCATION MISSION OF THE COLLEGE. MANY, BUT NOT ALL, PIECES ARE DISPLAYED THROUGHOUT CAMPUS FOR VIEWING BY THE CAMPUS COMMUNITY AND VISITORS. SCHEDULE D, PART V, LINE 4 CENTRE'S ENDOWMENT IS USED EXCLUSIVELY TO PARTIALLY FUND THE MISSION OF THE COLLEGE, INCLUDING, BUT NOT LIMITED TO, STUDENT SCHOLARSHIPS, OPERATIONS AND DEBT RETIREMENT. SCHEDULE D, PART X, LINE 2 MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. SCHEDULE D, PART XI, LINE 2D FINANCIAL AID AND SCHOLARSHIPS: (35,068,177). ACTUARIAL LIABILITY FOR ANNUITY OBLIGATIONS: (210,459). VALUATION CHANGE IN INTEREST RATE SWAPS: (3,183,131). TOTAL: (38,461,767). SCHEDULE D, PART XII, LINE 4B FINANCIAL AID AND SCHOLARSHIPS: 35,068,177. TOTAL: 35,068,177. true true true true true true true false false false false false false false false true false true SCHEDULE E, PART I, LINE 3 IN ADDITION TO THE EQUAL OPPORTUNITY EMPLOYER NOTICE THAT APPEARS WITH ALL OF CENTRE'S EMPLOYMENT ADS, THE COLLEGE HAS AN OFFICIAL NONDISCRIMINATION STATEMENT THAT IS REPRINTED IN MAJOR PUBLICATIONS SUCH AS OUR INTRODUCTION-TO-THE-COLLEGE BROCHURE, THE ADMISSION VIEWBOOK, AND THE CATALOG. THE STATEMENT ALSO APPEARS ON THE COLLEGE'S WEBSITE. SCHEDULE E, PART I, LINE 6A CENTRE COLLEGE RECEIVES GRANTS FROM THE DEPARTMENT OF EDUCATION, EPA, NIST, NEH, THE DEPARTMENT OF FISH AND WILDLIFE, AND NSF. THE COLLEGE ALSO RECEIVES SUBSIDIZED AND UNSUBSIDIZED LOANS, FLUS LOANS, AND PERKINS LOANS. true East Asia and the Pacific 1 Program Services SEMESTER STUDY ABROAD 173500 East Asia and the Pacific Program Services SCHOLARSHIPS 284524 Europe (Including Iceland and Greenland) 1 Program Services SEMESTER STUDY ABROAD 960758 Europe (Including Iceland and Greenland) Program Services SCHOLARSHIPS 1305377 North America Program Services SEMESTER STUDY ABROAD 271007 North America Program Services SCHOLARSHIPS 626147 2 2 3621313 3621313 SCHOLARSHIPS East Asia and the Pacific 20 284524 CREDIT SCHOLARSHIPS Europe (Including Iceland and Greenland) 98 1305377 CREDIT SCHOLARSHIPS North America 44 626147 CREDIT true false true true true false SCHEDULE F, PART I, LINE 2 ALL STUDENT SCHOLARSHIPS, GRANTS OR OTHER ASSISTANCE ARE MONITORED THROUGHOUT THE AWARD, ACCEPTANCE AND APPLICATION PROCESSES. APPROPRIATE RECORDS ARE MAINTAINED AND DOCUMENTED. true SCHOLARSHIPS 1241 32852129 SCHEDULE I, PART I, LINE 2 PROCEDURES FOR MONITORING USE OF GRANT FUNDS ALL STUDENT SCHOLARSHIPS, GRANTS, OR OTHER ASSISTANCE ARE MONITORED THROUGHOUT THE AWARD, ACCEPTANCE, AND APPLICATION PROCESSES. APPROPRIATE RECORDS ARE MAINTAINED AND DOCUMENTED. X X X true true X X X false false false false false false false true false JOHN A ROUSH PRESIDENT 328318 0 108742 0 0 0 27500 0 6756 0 471316 0 BRIAN HUTZLEY VP, CFO AND TREASURER 204385 0 20500 0 0 0 20637 0 888 0 246410 0 JAMES P LEAHEY VP FOR LEGAL AFFAIRS AND GIFT 132040 0 25000 0 0 0 14281 0 5175 0 176496 0 SHAWN LYONS VP FOR DEVELOPMENT AND ALUMNI 151668 0 0 0 0 0 15926 0 8981 0 176575 0 STEPHANIE FABRITIUS VP ACADEMIC DEAN 173392 17216 0 17330 3588 211526 SCHEDULE J, PART I, LINE 1A HOUSING ALLOWANCE: JOHN ROUSH, PRESIDENT, AND BRIAN HUTZLEY, VP FINANCE AND TREASURER, ARE REQUIRED TO RESIDE IN ON-CAMPUS HOUSING PER THEIR EMPLOYMENT AGREEMENT. EXEMPT UNDER IRC 119. TRAVEL FOR COMPANIONS: AT TIMES SPOUSES ARE EXPECTED TO ACCOMPANY INTERESTED PERSONS ON BUSINESS TRIPS. ANY AMOUNTS DEEMED TO BE PERSONAL IN NATURE ARE TREATED AS TAXABLE COMPENSATION. HEALTH OR SOCIAL CLUB: THE COLLEGE PURCHASED A MEMBERSHIP IN THE LOCAL COUNTRY CLUB IN THE PRESIDENT'S NAME TO GAIN ACCESS TO THE FACILITIES FOR OCCASIONAL BUSINESS PURPOSES. THE USE IS 100% BUSINESS AND NOT CONSIDERED TO BE TAXABLE COMPENSATION. SCHEDULE J, PART I, LINE 7 BONUSES ARE EARNED BASED ON MEETING GOALS SET AT THE BEGINNING OF THE YEAR BY THE PRESIDENT OF THE COLLEGE. A COUNTY OF BOYLE KENTUCKY 616000756 2008-04-24 34385000 CURRENT REFUNDING false false false B COUNTY OF BOYLE KENTUCKY 616000756 2017-03-16 39155000 REFUNDING OF 2007-1 BOND false false false A 0 0 35675876 0 0 0 233242 101758 0 0 35340876 0 2010 true false true true B 0 0 42814355 0 0 0 450368 0 0 0 43363987 0 2017 true false true true A false false false false 0 false false false true B false false true false false 0 false false false true A false false true false false false 0 0 false true B false false true false true true SEE ATTACHED false false false 0 false true A true B true SCHEDULE K, PART II, LINE 3 TOTAL PROCEEDS OF ISSUES - 2008 BOND THE DIFFERENCE BETWEEN PART I(E)A, "ISSUE PRICE", AND PART II, LINE 3A, "TOTAL PROCEEDS", OF $1,290,876 IS THE RESULT OF INVESTMENTS EARNINGS. SCHEDULE K, PART IV, LINE 2B EXCEPTION TO REBATE ALL BOND PROCEEDS HAVE BEEN SPENT. THEREFORE THE REBATE CALCULATION DOES NOT NEED TO BE PERFORMED. SCHEDULE K, PART IV, LINE 4B NAME OF PROVIDER UBS: 29.7 YEARS PNC: 25.3 YEARS A CITY OF LANCASTER 000103462 2018-11-27 32425000 NEW CONSTRUCTION false false false A 0 0 32744887 32744887 777234 0 286171 0 0 5460623 0 26220859 2019 false false false true A false false false false 0 false false false true A false false true false false false 0 false 0 false true A true NAME NOT REQUIRED RELATIONSHIP NOT REQUIRED 2216048 INSTITUTIONAL SCHOLASHIPS EDUCATION ASSISTANCE MELISSA BURNS-CUSATO WIFE OF B CUSATO 86355 COMPENSATION false MIKE FABRITIUS HUSBAND OF S FABRITIUS 45413 COMPENSATION false SCHEDULE L, PART III GRANTS OR ASSISTANCE BENEFITING INTERESTED PERSONS COLLEGES, UNIVERSITIES AND PRIMARY AND SECONDARY SCHOOLS ARE NOT REQUIRED TO IDENTIFY INTERESTED PERSONS TO WHOM THEY HAVE PROVIDED SCHOLARSHIPS, FELLOWSHIPS AND SIMILAR FINANCIAL ASSISTANCE PURSUANT TO THE INSTRUCTIONS TO FORM 990, SCHEDULE L. X 44 2347015 MARKET VALUE false true false FORM 990, PART VI, LINE 1A MATERIAL DIFFERENCES IN VOTING RIGHTS THERE SHALL BE AN EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES APPOINTED EACH YEAR BY THE CHAIR OF THE BOARD, AND APPROVED BY VOTE OF THE BOARD. THE EXECUTIVE COMMITTEE SHALL HAVE ALL THE POWERS OF THE BOARD OF TRUSTEES WHEN THE BOARD IS NOT IN SESSION, EXCEPT THE POWER TO ELECT OR REMOVE THE PRESIDENT OF THE COLLEGE, TO AMEND THE CHARTER AND BYLAWS OF THE COLLEGE, AND TO ELECT NEW TRUSTEES. THE EXECUTIVE COMMITTEE SHALL CONSIST OF NINE OR MORE MEMBERS, INCLUDING THE CHAIR OF THE BOARD, THE VICE CHAIR OF THE BOARD AND THE SECRETARY OF THE BOARD. ANY ACTION OF THE EXECUTIVE COMMITTEE TO BE EFFECTIVE MUST BE AUTHORIZED BY AT LEAST FIVE AFFIRMATIVE VOTES. FORM 990, PART VI, SECTION A, LINE 2 FAMILY AND BUSINESS RELATIONSHIPS DAVID GRISSOM AND SANDRA FRAZIER HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, LINE 11B PROCESS OF THE REVIEW OF FORM 990 A DRAFT OF THE FORM 990 AND SUPPLEMENTAL SCHEDULES IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND REVIEWED BY MANAGEMENT. THE FINAL FORM 990 AND SUPPLEMENTAL SCHEDULES IS PROVIDED ELECTRONICALLY TO THE BOARD OF TRUSTEES PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, LINE 12C ORGANIZATION'S PRACTICE FOR MONITORING COMPLIANCE ALL TRUSTEES AND OFFICERS ARE SURVEYED ANNUALLY, VIA AN EXTENSIVE QUESTIONNAIRE, TO DISCLOSE A VARIETY OF RELATIONSHIPS WITH EACH OTHER OR DIRECTLY WITH THE COLLEGE. THIS SURVEY IS REVIEWED AND MAINTAINED BY COLLEGE COUNSEL, AND REVIEWED BY BOTH THE VP FINANCE AND THE CONTROLLER. THOSE FOUND TO HAVE A POTENTIAL CONFLICT, OR THE APPEARANCE OF SUCH, DO NOT PARTICIPATE IN FINAL RELATED BUSINESS DISCUSSIONS OR VOTES. FORM 990, PART VI, LINE 15A COMPENSATION REVIEW PROCESS FOR THE PRESIDENT THE BOARD OF TRUSTEES HAS A COMMITTEE ON COMPENSATION AND PERFORMANCE EVALUATION, COMPOSED OF EIGHT MEMBERS OF THE BOARD, WHICH REVIEW PERFORMANCE OF THE PRESIDENT ON AN ANNUAL BASIS. AS PART OF THE EVALUATION OF THE PRESIDENT, THE COMMITTEE REVIEWS AN EXPANSIVE REPORT WRITTEN BY THE PRESIDENT ON THE DRIVERS AND GOALS ASSOCIATED WITH HIS WORK, AND ALSO REVIEWS OBJECTIVE INSTITUTIONAL DATA. IN SETTING THE COMPENSATION OF THE PRESIDENT IN THE PRESIDENT'S CURRENT CONTRACT, THE COMMITTEE EMPLOYS AN INDEPENDENT CONSULTANT WHO PROVIDES AN ASSESSMENT OF COMPENSATION FROM COMPARABLE PRESIDENTS AT COMPARABLE COLLEGES. FOR THE CURRENT CONTRACT, THE CONSULTANT PROVIDED RECOMMENDATIONS TO THE COMMITTEE, WHICH THEN MADE RECOMMENDATIONS TO THE ENTIRE BOARD OF TRUSTEES. THE BOARD OF TRUSTEES APPROVES THE BASE SALARY FOR THE PRESIDENT UNDER THE CURRENT CONTRACT AND HAS ESTABLISHED A MAXIMUM PERCENTAGE FOR ANY ANNUAL INCENTIVE COMPENSATION. EACH YEAR, IN CONNECTION WITH THE EVALUATION OF THE PRESIDENT, THE COMMITTEE MAKES RECOMMENDATIONS ON ANY INCENTIVE COMPENSATION FOR WHICH THE PRESIDENT IS ELIGIBLE, SUBJECT TO THE APPROVAL OF THE BOARD OF TRUSTEES. WRITTEN DOCUMENTATION OF CONTRACT DISCUSSIONS, APPROVALS, ATTENDANCE, AND ACTIONS TAKEN ARE MAINTAINED ON CAMPUS BY A NON-BOARD MEMBER. THE PRESIDENT IS CURRENTLY COMPLETING THE FOURTH YEAR OF A FIVE-YEAR CONTRACT. FORM 990, PART VI, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST, AND FINANCIAL STATEMENTS THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON ITS WEBSITE. FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS ACTUARIAL LIABILITY FOR ANNUITY OBLIGATIONS: (210,459) VALUATION CHANGE IN INTEREST RATE SWAPS: (3,183,131) TOTAL: (3,393,590) FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:ALL OTHER EXPENSES TOTAL EXPENSES:11246280 PROGRAM SERVICES:11035379 MANAGEMENT AND GENERAL:FUNDRAISING:210901 CHARITABLE REMAINDER TRUST (3) 600 WEST WALNUT STREET DANVILLE KY 40422 CHARITABLE TR KY NA TRUST false CHARITABLE REMAINDER TRUST (2) 600 WEST WALNUT STREET DANVILLE KY 40422 CHARITABLE TR FL NA TRUST false CHARITABLE REMAINDER TRUST 600 WEST WALNUT STREET DANVILLE KY 40422 CHARITABLE TR CO NA TRUST false CHARITABLE REMAINDER TRUST 600 WEST WALNUT STREET DANVILLE KY 40422 CHARITABLE TR OR NA TRUST false false false false false false false false false false false false false false false false false false false false