2019-10-10T12:25:48-05:00 2019-05-31 363168081 SIKICH LLP 1415 W DIEHL RD SUITE 400 NAPERVILLE IL 605632349 990 2018-06-01 362170999 UNIVERSITY OF ST FRANCIS UNIV 8157403372 500 WILCOX STREET JOLIET IL 604356188 JULEE GARD VP - ADMIN & FINANCE 8157403372 2019-10-07 1 JILL M BOYLE CPA P01246734 6305668400 2019-10-07 71.205.92.204 2019-10-07 11:16:06 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 ABA4EC4281BAA6629D62F3D21867FC11A781E7B3 2018 2020-03-31 21:24:44Z ARVID C JOHNSON 500 WILCOX STREET JOLIET IL 604356188 97757136 0 0928 X WWW.STFRANCIS.EDU X 1920 IL HIGHER LEARNING INSTITUTION (POST SECONDARY EDUCATION) 29 27 1175 656 3100 -9846 2449056 3791258 66027861 68306488 -86010 1327892 1090105 650719 69481012 74076357 20501875 22216733 0 0 30529438 30886477 105986 89100 814783 16993912 17895626 68131211 71087936 1349801 2988421 100589496 99914444 48913533 46745465 51675963 53168979 X AS A CATHOLIC UNIVERSITY ROOTED IN THE LIBERAL ARTS, WE ARE A WELCOMING COMMUNITY OF LEARNERS CHALLENGED BY FRANCISCAN VALUES AND CHARISM, ENGAGED IN A CONTINUOUS PURSUIT OF KNOWLEDGE, FAITH, WISDOM, AND JUSTICE, AND EVER MINDFUL OF A TRADITION THAT EMPHASIZES REVERENCE FOR CREATION, COMPASSION AND PEACEMAKING. WE STRIVE FOR ACADEMIC EXCELLENCE IN ALL PROGRAMS, PREPARING WOMEN AND MEN TO CONTRIBUTE TO THE WORLD THROUGH SERVICE AND LEADERSHIP. 0 0 37954572 22216733 64531913 INSTRUCTION AND FINANCIAL AIDTHE CATHOLIC, FRANCISCAN UNIVERSITY OFFERS 50 BACCALAUREATE PROGRAMS, INCLUDING 3 ADULT UNDERGRADUATE MAJORS, 18 MASTER'S LEVEL PROGRAMS (ONSITE AND ONLINE CLASSES), 7 SUB-BACCALAUREATE CERTIFICATE PROGRAMS, 17 POST-BACCALAUREATE CERTIFICATE PROGRAMS, 4 POST-MASTERS CERTIFICATE PROGRAMS AND 2 DOCTORAL PROGRAMS. IN FISCAL YEAR 2019, THE UNIVERSITY SERVED 1,629 UNDERGRADUATE AND 2,298 POST-BACCALAUREATE STUDENTS. IN ADDITION, 98% OF TRADITIONAL UNDERGRADUATE STUDENTS AND 100% OF INCOMING FRESHMEN RECEIVED SOME FORM OF FINANCIAL AID. 9637187 29940 STUDENT SERVICESSTUDENT SERVICES INCLUDE ADMISSIONS, WELCOME CENTER, FINANCIAL AID ADMINISTRATION, REGISTRAR, ATHLETICS, STUDENT ENGAGEMENT & LEADERSHIP, ORIENTATION, GRADUATION, CAREER SUCCESS CENTER, HEALTH & WELLNESS AND PERSONAL COUNSELING SERVICES, SUPPORT FOR STUDENTS WITH DISABILITIES, INSTITUTIONAL DIVERSITY, AND UNIVERSITY MINISTRY. IN FISCAL YEAR 2019, 437 STUDENT ATHLETES PARTICIPATED IN BASEBALL, BASKETBALL, BOWLING, CHEERLEADING, CROSS COUNTRY, FOOTBALL, DANCE, GOLF, SOCCER, SOFTBALL, TENNIS, TRACK & FIELD, AND VOLLEYBALL. 7110394 ACADEMIC SUPPORTLIBRARY RESOURCES AND SERVICES, ACADEMIC RESOURCE CENTER, INSTITUTIONAL RESEARCH, STUDENT COMPUTER LABS, AND ACADEMIC TECHNOLOGY, AND DEANS OF EACH OF THE UNIVERSITY'S FOUR COLLEGES ARE INCLUDED IN THIS CATEGORY. THE LIBRARY'S COLLECTION INCLUDED 90,201 BOOKS AND OTHER PAPER DOCUMENTS, 622 VOLUMES OF SERIALS, AND 2,822 AUDIOVISUAL MATERIALS. CONSISTENT WITH THE INDUSTRY, THE UNIVERSITY'S RESOURCES CONTINUE TO MOVE AWAY FROM PRINTED MATERIALS AND TOWARD ELECTRONIC RESOURCES AND SUBSCRIPTIONS. THE RESOURCES AT THE LIBRARY ASSIST STUDENTS IN ALL METHODS OF RESEARCH. 4357796 3771475 AUXILIARY ENTERPRISESRESIDENCE EDUCATION, STUDENT HOUSING, FOOD SERVICES, THE BOOKSTORE, AND CONFERENCING SERVICES ARE INCLUDED IN AUXILIARY SERVICES. 370 STUDENTS FILLED STUDENT HOUSING TO 85% CAPACITY IN 2019. NEW MIX OF DINING OPTIONS AND MORE OPTIONS FOR STUDENTS WITH FOOD ALLERGIES WERE ADDED TO THE MENU DURING THE YEAR. FOOD SERVICES ARE PROVIDED TO STUDENTS, FACULTY AND STAFF 16 HOURS PER DAY. 4357796 3771475 59059949 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 1 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 0 0 0 1 126 0 1175 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 29 27 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X JULEE GARD 8157403371 500 WILCOX STREET JOLIET IL 605346188 ANTHONY ARELLANO TRUSTEE 4.00 X 0 0 0 MARK BASS TRUSTEE 4.00 X 0 0 0 WILLIAM BELLAH TRUSTEE 4.00 X 0 0 0 MICHAEL BRENNAN TRUSTEE 4.00 X 0 0 0 MYRON BRICK TRUSTEE 4.00 X 0 0 0 SR SUE BRUNO TRUSTEE 4.00 X 0 0 0 KIMBERLY CUNNEA TRUSTEE 4.00 X 0 0 0 EDWARD DOLLINGER TRUSTEE 4.00 X 0 0 0 ROBERT ERICKSON TRUSTEE 4.00 X 0 0 0 DIANE HABIGAR TRUSTEE 4.00 X 0 0 0 SCOTT HOLDMAN TRUSTEE 4.00 X 0 0 0 SR MARYANN JERKOFSKY TRUSTEE 4.00 X 0 0 0 REV JAMES LEWIS TRUSTEE 4.00 X 0 0 0 JOSEPH MALLOF TRUSTEE 4.00 X 1350 0 0 CHERYL MCCARTHY TRUSTEE 4.00 X 0 0 0 CANDICE ROSEN TRUSTEE 4.00 X 0 0 0 ARTHUR SCHEUBER CHAIRPERSON OF THE BOARD 8.00 X X 0 0 0 KEITH SCHOMIG TRUSTEE 4.00 X 0 0 0 PARAMJIT SINGH SIDHU TRUSTEE 4.00 X 0 0 0 CHERYL STEPNEY TRUSTEE 4.00 X 0 0 0 DANIEL STREITZ TRUSTEE 4.00 X 0 0 0 DAN STEVENSON TRUSTEE 4.00 X 0 0 0 SR FAITH SZAMBELANCZYK TRUSTEE 4.00 X 0 0 0 MICHALE TURK TRUSTEE 4.00 X 0 0 0 PATRICIA WHEELER TRUSTEE 4.00 X 0 0 0 COLLEEN WYSE TRUSTEE 4.00 X 0 0 0 SR MARY JO YOUNG TRUSTEE 4.00 X 0 0 0 THOMAS VANA VICE CHAIRPERSON OF THE BOARD 8.00 X X 0 0 0 DOLORES ZEMONT TRUSTEE 4.00 X 0 0 0 ARVID JOHNSON SECRETARY & UNIVERSITY PRESIDENT 50.00 X 374307 0 50883 JULEE GARD TREASURER AND VP OF ADMIN & FINANCE 50.00 X 185943 0 15279 FRANK PASCOE PROVOST AND ACADEMIC VP 50.00 X 195897 0 17933 TERRANCE COTTRELL VP FOR OPERATIONS & IT 50.00 X 166128 0 15042 JOHN GAMBRO DEAN OF COLLEGE OF EDUCATION 50.00 X 137612 0 33286 BRUCE FOOTE EXECUTIVE DIRECTOR OF FINANCIAL AID 50.00 X 106360 0 52434 CAROL WILSON DEAN COLLEGE OF NURSING 50.00 X 138991 0 17483 KRISTEN SHORT VP FOR UNIVERSITY ADVANCEMENT 50.00 X 145720 0 7271 ORLANDO GREIGO DEAN COLLEGE OF BUS & HEALTH ADMIN 50.00 X 140026 0 11820 1592334 0 221431 21 0 1 0 SODEXO INC & AFFILIATES 500 WILCOX STREET JOLIET IL 604356169 FOOD SERVICE MANAGEMENTS 1682228 PT FERRO CONSTRUCTION CO 700 ROSWELL AVENUE PO BOX 156 JOLIET IL 604340156 CONSTRUCTION 541040 GCA EDUCATION SERVICES OF TEXAS INC 1350 EUCLID AVENUE STE 1500 CLEVELAND OH 441151832 CUSTODIAL SERVICES 424091 RICOH USA INC PO BOX 802815 CHICAGO IL 606802815 SERVICE CONTRACTS-PRINTING/COPYING 263971 PHOENIX SYSTEMS & SERVICE INC 362 S SCHMALE RD CAROL STREAM IL 60188 CONSTRUCTION 257930 17 327678 518415 2945165 1670290 3791258 TUITION AND FEES 611310 64531913 64531913 STUDENT HOUSING AND AUXILIARY ENT 611310 3774575 3771475 3100 68306488 760318 760318 24105161 38225 23433793 142019 671368 -103794 567574 567574 128041 327678 104967 23074 23074 ATHLETIC FUNDRAISING ACTIVITIES 900099 221242 221242 FEES FOR ACTIVITIES 900099 29940 29940 376463 376463 627645 74076357 68333328 3100 1948671 22216733 22216733 778838 198900 503535 76403 23463470 20129634 2966648 367188 1231815 1014485 193526 23804 3716871 2288395 1405226 23250 1695483 1432868 234470 28145 108559 64710 43849 77425 77425 89100 89100 92714 92714 2436181 1426954 949665 59562 184455 19454 165001 2349779 1567024 741841 40914 616828 298581 317357 890 2445023 1841193 599054 4776 829733 689747 135673 4313 79771 58647 18631 2493 952155 655092 295077 1986 4444301 3057722 1377308 9271 648473 274132 374341 FOOD EXPENSES 1657799 1573418 76985 7396 FEES 292208 93552 194110 4546 MEMBERSHIPS 268409 127543 139335 1531 BAD DEBT EXPENSE 192000 192000 219813 95875 98572 25366 71087936 59059949 11213204 814783 570 570 4899391 5294132 2333429 2340250 2965637 2208187 1483074 1318525 413095 392020 109660514 47710511 63891063 61950003 21459192 23926626 3144045 2484131 100589496 99914444 3592782 3231092 4063090 3689494 37934048 36638938 3323613 3185941 48913533 46745465 X 35688833 35486294 6727629 0 9259501 17682685 51675963 53168979 100589496 99914444 X 2988421 -833198 2036 -664243 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19786925 2396557 73331 441692 21815121 18540413 860556 1050305 664349 19786925 16606052 730014 1572355 368008 18540413 17307753 945084 -578406 504942 17169489 15321950 2024948 437307 465904 10548 17307753 0.40000 0.50000 0.10000 1 0 1500825 5778361 7279186 76025362 31539558 44485804 934764 394179 540585 15321673 11605911 3715762 10099529 4170863 5928666 61950003 CAPITAL LEASE OBLIGATIONS 810746 OTHER LIABILITIES 1443923 U.S. GOVERNMENT STUDENT LOAN FUNDS 931272 3185941 X 52429222 2036 492783 494819 51934403 92714 22049240 22141954 74076357 49438765 492783 492783 48945982 92714 22049240 22141954 71087936 PART V, LINE 4: THE INTENDED USES OF THE UNIVERSITY'S ENDOWMENT FUND ARE: SCHOLARSHIPS, PRIZES AND AWARDS, FACULTY DEVELOPMENT AND OTHER PROGRAMS. PART X, LINE 2: THE UNIVERSITY IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND A SIMILAR PROVISION OF STATE LAW. HOWEVER, THE UNIVERSITY IS SUBJECT TO FEDERAL INCOME TAX ON ANY UNRELATED BUSINESS TAXABLE INCOME. THE UNIVERSITY FILES TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. IN ADDITION, THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE UNIVERSITY IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) OF THE IRC. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 104,967. NET LOSS ON PROPERTY SALE 103,794. SGA & PARENT NETWORK COSTS 284,022. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FINANCIAL AID 22,049,240. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 104,967. SGA & PARENT NETWORK COSTS 284,022. NET LOSS ON PROPERTY SALE 103,794. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FINANCIAL AID 22,049,240. PART V, LINE 1A BEGINNING ENDOWMENT BALANCE WAS RESTATED FOR THE FINANCIAL STATEMENTS AS OF JUNE 1, 2016. 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 UNIVERSITY'S POLICY IS ONE OF NON-DISCRIMINATION WITH RESPECT TO THE PUBLIC SERVED BY THE INSTITUTION AND WITH RESPECT TO UNIVERSITY PERSONNEL. ADVERTISEMENTS, BROCHURES, PUBLICATIONS, APPLICATION FOR ADMISSIONS, ETC., CONTAIN A STATEMENT TO THE EFFECT THAT THE UNIVERSITY DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, RELIGION, GENDER, GENDER IDENTITY, GENETIC INFORMATION, AGE, NATIONAL ORIGIN, ANCESTRY, MARITAL STATUS, SEXUAL ORIENTATION, HANDICAP, DISABILITY, VETERAN STATUS OR UNFAVORABLE DISCHARGE FROM MILITARY SERVICE. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY APPLIES FOR AND RECEIVES EDUCATIONAL GRANTS, AS APPROVED ON A CASE BY CASE BASIS, FROM FEDERAL AND STATE AGENCIES. THE UNIVERSITY ALSO PARTICIPATES ANNUALLY IN FEDERAL & STATE FINANCIAL AID PROGRAMS, SPECIFICALLY PELL, FSEOG, FEDERAL WORK-STUDY, PERKINS LOANS, FEDERAL DIRECT LOANS, AND VARIOUS STATE OF ILLINOIS SCHOLARSHIP AND GRANT PROGRAMS FOR QUALIFIED STUDENTS (I.E., IL MAP). 1 CANADA 0 0 PROGRAM SERVICES INSTITUTIONAL SUPPORT 3327 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDENT SERVICES 25775 0 0 0 0 0 0 29102 0 29102 0 0 0 0 0 0 PART I, LINE 2: THE UNIVERSITY HAS CONTROLS IN PLACE TO MONITOR THE USE OF ALL GRANT FUNDS AND OTHER ASSISTANCE. THE UNIVERSITY WORKED WITH A FOREIGN AGENCY DURING THE TAX YEAR TO HELP THE UNVIERSITY RECRUIT STUDENTS FROM FOREIGN COUNTRIES. X X X X X X X 1 MCALLISTER & QUINN LLC 1368 N WASHINGTON AVE SCRANTON PA 185092844 FUNDRAISING CONSULTING 0 137080 89100 47980 137080 89100 47980 IL CARITAS SCHOLARSHIP BALL 333640 258140 75500 32580 5200 29921 PAT SULLIVAN GOLF OUTING 72661 31230 41431 1200 5906 10563 1 49418 38308 11110 523 8354 8000 2720 455719 327678 128041 1723 46840 13200 43204 104967 23074 1 SCHOLARSHIPS & GRANTS 1871 22216733 PART I, LINE 2: THE UNIVERSITY HAS CONTROLS IN PLACE TO MONITOR THE USE OF ALL GRANT FUNDS. THE UNIVERSITY PROVIDES SCHOLARSHIPS AND GRANTS TO STUDENTS MATRICULATING AT THE UNIVERSITY. THE DEVELOPMENT AND FINANCIAL AID DEPARTMENTS REVIEW OVERALL USE OF SCHOLARHSIP AND OTHER GRANT FUNDS TO ENSURE THAT THE RECIPIENTS ARE ELIGIBLE TO RECEIVE THE FUNDS. ALL FUNDS ISSUED TO THE STUDENTS ARE REQUIRED TO DEFRAY THE COST OF TUITION, ROOM AND BOARD. SINCE THE STUDENTS HAVE NO DISCRETION IN THE USE OF THE FUNDS, THE UNIVERSITY HAS NO NEED TO MONITOR THE GRANTS ONCE THEY ARE ISSUED. X X X X X X 0 0 0 0 0 0 0 0 0 ARVID JOHNSON SECRETARY & UNIVERSITY PRESIDENT 304564 0 0 0 69743 0 31584 0 19299 0 425190 0 0 0 JULEE GARD TREASURER AND VP OF ADMIN & FINANCE 185583 0 0 0 360 0 9279 0 6000 0 201222 0 0 0 FRANK PASCOE PROVOST AND ACADEMIC VP 182026 0 0 0 13871 0 17933 0 0 0 213830 0 0 0 TERRANCE COTTRELL VP FOR OPERATIONS & IT 165917 0 0 0 211 0 15042 0 0 0 181170 0 0 0 JOHN GAMBRO DEAN OF COLLEGE OF EDUCATION 136622 0 0 0 990 0 13867 0 19419 0 170898 0 0 0 BRUCE FOOTE EXECUTIVE DIRECTOR OF FINANCIAL AID 105503 0 0 0 857 0 10550 0 41884 0 158794 0 0 0 CAROL WILSON DEAN COLLEGE OF NURSING 137706 0 0 0 1285 0 12033 0 5450 0 156474 0 0 0 KRISTEN SHORT VP FOR UNIVERSITY ADVANCEMENT 145417 0 0 0 303 0 7271 0 0 0 152991 0 0 0 ORLANDO GREIGO DEAN COLLEGE OF BUS & HEALTH ADMIN 139215 0 0 0 811 0 6905 0 4915 0 151846 0 0 0 A ILLINOIS FINANCE AUTHORITY 861091967 NONEAVAIL 2013-06-17 24248000 SEE SCHEDULE K, PART VI 0 0 0 B ILLINOIS FINANCE AUTHORITY 861091967 NONEAVAIL 2016-02-23 15000000 THE PLANNING, DESIGNING, ACQUIRING, CONSTRUCTING, RENOVATING, EQUIPPING, FUR 0 0 0 A 24248000 245436 24002564 2013 1 0 1 1 B 15000000 164289 14835711 2016 1 0 1 1 A 0 0 1 1 0 0.01000 0.01000 0 0 1 B 0 0 1 1 0 0.01000 0.01000 0 0 1 A 0 1 1 1 1 1 SEE SCHEDULE K PART IV 7.100000000000 0 0 0 0 1 B 0 1 1 1 1 1 PNC BANK NATIONAL ASSOCIAITON 10.000000000000 0 0 0 0 1 A 1 B 1 SCHEDULE K, PART I, LINE A, COLUMN F - PURPOSE OF THE BOND: THE PROCEEDS OF THE ISSUE WERE DEPOSITED INTO ESCROW ON 6/17/13, AND THEN WERE ENTIRELY SPENT ON 6/18/13 TO (I) CURRENTLY REFUND THE OUTSTANDING $13,380,000 BALANCE OF THE COUNTY OF WILL, ILLINOIS ADJUSTABLE RATE DEMAND REVENUE BONDS ISSUED IN 2005; (II) CURRENTLY REFUND THE OUTSTANDING $11,370,000 BALANCE OF THE COUNTY OF WILL, ILLINOIS TAX-EXEMPT VARIABLE RATE DEMAND REVENUE BONDS ISSUED IN 2007; AND (III) FUND COSTS ASSOCIATED WITH THE ISSUANCE OF THE BOND. SCHEDULE K, PART IV, LINE 2C, COLUMN A THE LAST DATE A REBATE CALCULATION WAS PERFORMED FOR THIS BOND ISSUE WAS 6/30/13. SCHEDULE K, PART IV, LINE 4B, COLUMN A NORTH SHORE COMMUNITY BANK & TRUST COMPANY PATRICIA PASCOE FAMILY OF KEY EMPLOYEE 110513 THE UNIVERSITY EMPLOYS PATRICIA PASCOE WHO IS AN INTERESTED PERSON DUE TO HER FAMILY RELATIONSHIP WITH A KEY EMPLOYEE OF THE UNIVERSITY. 0 ALBAN SCHEUBER FAMILY OF BOARD MEMBER 89215 THE UNIVERSITY EMPLOYS ALBAN SCHEUBER WHO IS AN INTERESTED PERSON DUE TO HIS FAMILY RELATIONSHIP WITH A BOARD OF TRUSTEES MEMBER OF THE UNIVERSITY. 0 X 1 375 COMPARABLE COST X 80 COMPARABLE COST X 2494 COMPARABLE COST X 9 665432 MARKET VALUE STOCK QUOTE X 1 820389 FAIR MARKET VALUE X 1 118611 FAIR MARKET VALUE X KITCHEN EQUIPMENT 1 35000 ACTUAL COST X AUCTION ITEMS 72 25169 ACTUAL COST X EDUCATIONAL EQUIPMENT 5 2710 COMPARABLE COST X AGRICULTURE 1 30 SELLING PRICE 33 0 1 1 PART I, LINE 32B: WHEN THE UNIVERSITY RECEIVES A STOCK GIFT, THE DEVELOPMENT OFFICE REFERS THE DONOR TO THE UNIVERSITY'S THIRD-PARTY BROKER. DONATED STOCK IS SOLD IMMEDIATELY BY A BROKER AND THE BROKER SENDS THE UNIVERSITY THE NET PROCEEDS FROM THE SALE. FORM 990, PART VI, SECTION B, LINE 11B A REVIEW WAS CONDUCTED PRIOR TO FILING THE 990 WITH THE IRS. THE DIRECTOR OF ACCOUNTING AND OTHERS IN BUSINESS AFFAIRS GATHER ALL INFORMATION FROM VARIOUS AREAS OF THE UNIVERSITY AND SUBMIT THE INFORMATION TO EXTERNAL TAX PROFESSIONALS TO PREPARE THE FIRST DRAFT OF THE 990. THE DIRECTOR OF ACCOUNTING THEN REVIEWS THE DRAFT AND MAKES ANY NECESSARY CORRECTIONS AND CHANGES. THE SECOND DRAFT WAS REVIEWED BY THE VICE PRESIDENT FOR ADMINISTRATION AND FINANCE AND THE PRESIDENT OF THE UNIVERSITY. AGAIN, UPDATES AND CHANGES WERE MADE IF NECESSARY. A FINAL DRAFT WAS SENT VIA EMAIL TO ALL VOTING BOARD MEMBERS FOR THEIR REVIEW AND ACCEPTANCE. IF ANY CHANGES WERE REQUIRED AFTER BOARD REVIEW, THEY WERE SENT TO THE TAX PROFESSIONALS FOR INCORPORATION INTO THE FINAL FORM 990. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST DISCLOSURE STATEMENTS ARE SENT TO EACH BOARD MEMBER EACH SUMMER. ALL BOARD MEMBERS ARE EXPECTED TO RETURN THE CONFLICT OF INTEREST DISCLOSURE STATEMENTS TO THE EXECUTIVE ASSISTANT TO THE PRESIDENT AT THE FALL BOARD MEETING, IF NOT SOONER. A PROCESS HAS BEEN ESTABLISHED TO FOLLOW UP WITH ANY MEMBERS WHO HAVE NOT RETURNED THE CONFLICT OF INTEREST DISCLOSURE STATEMENT WITHIN THE GIVEN PARAMETERS. THE UNIVERSITY MONITORS CONFLICTS OF INTEREST BY SENDING OUT A QUESTIONNAIRE ANNUALLY. IN ADDITION, CONFLICTS ARE MONITORED AT EVERY MEETING A QUESTION REGARDING CONFLICTS IS RAISED. IF A CONFLICT ARISES, THE BOARD MEMBER RECUSES HIMSELF/HERSELF FROM PARTICIPATING IN THE GOVERNING BODY'S DELIBERATIONS AND ACTIONS ON THE TOPIC OR TRANSACTION UNDER CONSIDERATION. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES FUNCTIONS AS THE COMPENSATION COMMITTEE AND IS RESPONSIBLE FOR DETERMINING THE PRESIDENT'S SALARY AND BENEFITS. THE COMPENSATION COMMITTEE WORKS WITH HUMAN RESOURCES, THE PRESIDENT, AND OUTSIDE CONSULTANTS (AS NEEDED) TO OBTAIN COMPARABLE SALARY AND BENEFIT DATA FROM ORGANIZATIONS SUCH AS THE COLLEGE AND UNIVERSITY PERSONNEL ASSOCIATION (CUPA), IN ORDER TO ESTABLISH APPROPRIATE SALARY AND BENEFITS PACKAGES. THE COMPENSATION COMMITTEE CONSISTS OF THE CHAIRPERSON OF THE BOARD OF TRUSTESS AND THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTESS, WHO ARE NOT RELATED TO THE PRESIDENT AND DO NOT PERFORM MANAGEMENT-DIRECTED SERVICES TO THE UNIVERSITY. THE PRESIDENT OF THE UNIVERSITY HAS A MULTI-YEAR CONTRACT, PERFORMANCE AGAINST WHICH IS REVIEWED ANNUALLY TO DETERMINE IF ALL OBJECTIVES HAVE BEEN SATISFIED. THE PRESIDENT OF THE UNIVERSITY - UPON CONSULTATION WITH THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES - IS RESPONSIBLE FOR DETERMINING THE COMPENSATION OF THE PRESIDENT'S DIRECT REPORTS AND THE ACADEMIC DEANS AND WORKS WITH HUMAN RESOURCES TO OBTAIN COMPARABLE SALARY AND BENEFITS DATA FROM ORGANIZATIONS SUCH AS CUPA. ALL COMPENSATION DECISIONS ARE CONTEMPORANEOUSLY DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST. THE AUDITED FINANCIAL STATEMENTS AND PUBLIC DISCLOSURE COPIES OF THE IRS FORM 990 AND 990-T ARE AVAILABLE TO THE PUBLIC AT THE UNIVERSITY OF ST. FRANCIS' WEBSITE, WWW.STFRANCIS.EDU. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENT -550,165. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -114,078. SISTERS OF ST FRANCIS OF MARY IMMACULATE 1433 ESSINGTON JOLIET IL 60435 362764900 RELIGIOUS ORDER IL 501(C)(3) LINE 1 N/A 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1