2019-01-28T11:02:39-06:00 2018-05-31 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 225 S 6TH ST 2300 MINNEAPOLIS MN 55402 990 2017-06-01 420680466 LUTHER COLLEGE LUTH 5633871015 700 COLLEGE DRIVE DECORAH IA 52101 ERIC RUNESTAD VP FOR FINANCE & ADMIN 5633871015 2019-01-14 1 LAWRENCE H MOHR CPA P00447603 6128764500 2019-01-14 38.88.188.75 2019-01-14 09:58:18 CS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 8AECE1217C2DF3C614C0DF498EC0A212A82A36E2 2017 2019-02-21 02:37:17Z PAULA J CARLSON 700 COLLEGE DRIVE DECORAH IA 52101 130363046 0 9386 X WWW.LUTHER.EDU X 1865 IA ON A CAMPUS OF MORE THAN 800 ACRES ALONG THE BANKS OF THE UPPER IOWA RIVER IN DECORAH, IOWA, LUTHER IS A TRUE RESIDENTIAL CAMPUS, WITH 91 PERCENT OF STUDENTS LIVING ON CAMPUS AND NEARLY 95 PERCENT OF FACULTY CHOOSING TO LIVE WITHIN FIVE MILES OF IT. LUTHER'S STUDENT BODY INCLUDES 2,053 FTE MEN AND WOMEN (45 PERCENT AND 55 PERCENT, RESPECTIVELY) FROM 39 STATES AND NEARLY 74 FOREIGN COUNTRIES. U.S. STUDENTS OF COLOR CONSTITUTE 10.8 PERCENT OF THE STUDENT BODY. APPROXIMATELY 70 PERCENT OF LUTHER STUDENTS VOLUNTEER DURING THEIR TIME HERE, EXHIBITING THE HIGH SERVICE ETHIC INTRINSIC TO LUTHER CULTURE. THE COLLEGE STRIVES TO BE A PLACE WHERE PEOPLE OF ALL CONVICTIONS CAN REALIZE PERSONAL, INTELLECTUAL, AND SPIRITUAL GROWTH. 24 23 2814 1086 21040 18366 10770029 11972008 106642500 102233838 18113092 4153761 2139240 1778131 137664861 120137738 47162048 48159058 0 0 39687981 43278155 0 0 3677405 39593947 31712013 126443976 123149226 11220885 -3011488 297663231 299231197 55803908 51638646 241859323 247592551 X LUTHER COLLEGE IS A FOUR-YEAR, RESIDENTIAL LIBERAL ARTS INSTITUTION OFFERING MORE THAN 90 MAJORS, MINORS, AND PREPROFESSIONAL PROGRAMS. FOUNDED BY THE NORWEGIAN EVANGELICAL LUTHERAN CHURCH IN 1861, LUTHER WELCOMES STUDENTS OF ALL BACKGROUNDS TO ENGAGE IN A WAY OF LEARNING THAT MOVES BEYOND IMMEDIATE INTERESTS AND ENCOURAGES STUDENTS TO BUILD A LIFE OF CONSEQUENCE. AT THE HEART OF A LUTHER EDUCATION IS AN UNDERSTANDING OF THE WAY FAITH AND LEARNING INTERSECT AND IN TURN CONNECT STUDENTS TO THE LARGER WORLD. 0 0 78883956 48159058 82118960 INSTRUCTION: LUTHER OFFERS 39 MAJORS, 44 MINORS AND INTERDISCIPLINARY MINORS, AND 9 PREPROFESSIONAL AND SPECIFIC PROGRAMS. LUTHER'S SIGNATURE PAIDEIA PROGRAM, AN INTERDISCIPLINARY COURSE SERIES OFFERED FOR MORE THAN 35 YEARS, HELPS INTEGRATE LEARNING AND BUILDS COMMUNITY THROUGH SHARED ACADEMIC EXPERIENCE. THE COLLEGE'S MUSIC PROGRAM, IN WHICH STUDENTS TRAIN IN PERFORMANCE, CONDUCTING, COMPOSITION, AND EDUCATION, HAS SIX CHOIRS, THREE BANDS, THREE ORCHESTRAS AND TWO JAZZ BANDS, MANY OF WHICH TOUR NATIONALLY AND INTERNATIONALLY. A VIBRANT OFF-CAMPUS STUDENT PROGRAM DRAWS APPROXIMATELY 75% OF STUDENTS TO STUDY ABROAD PRIOR TO GRADUATION. LUTHER HAS 168 FULL-TIME FACULTY (95 PERCENT WITH A TERMINAL DEGREE) AND A 11.3:1 STUDENT-FACULTY RATIO. TOTAL ENROLLMENT WAS 2,031 FTE STUDENTS IN THE FALL OF 2017. 480 STUDENTS GRADUATED IN THE 2017-18 ACADEMIC YEAR. 17688725 1053895 ACADEMIC SUPPORT AND STUDENT SERVICES: A STUDENT ACADEMIC SUPPORT CENTER PROVIDES SERVICES, BASED ON BEST PRACTICES IN LEARNING ASSISTANCE, INCLUDING NEEDS ASSESSMENT, STUDENT-TO-STUDENT TUTORING, AND ONE-ON-ONE INSTRUCTION WITH PROFESSIONAL STAFF. IN COLLABORATION WITH FACULTY AND OTHER STAFF, SASC COORDINATES SPECIALIZED SERVICES FOR STUDENTS WITH DISABILITIES, MANAGES THE ACADEMIC ALERT SYSTEM, AND SUPPORTS INITIATIVES OF THE ADVISING PROGRAM. ACADEMIC ADVISING IS DONE BY FACULTY. RESEARCH AND TECHNOLOGY SUPPORT ARE PROVIDED THROUGH AN EXTENSIVE LIBRARY PROGRAM AND INFORMATION TECHNOLOGY SERVICES PROGRAM. THE COLLEGE HAS MORE THAN 100 STUDENT ORGANIZATIONS ALONG WITH COLLEGE MINISTRIES, HEALTH SERVICES, AND RECREATION AND WELLNESS PROGRAMS. ABOUT 74% OF STUDENTS ARE ENGAGED IN WORK STUDY TO SERVE THE LUTHER COMMUNITY, GAIN IMPORTANT WORK EXPERIENCE, AND EARN MONEY TOWARD EXPENSES. 14423581 19060983 AUXILIARY ENTERPRISES: LUTHER COLLEGE MAINTAINS A RURAL RESIDENTIAL CAMPUS TO ENHANCE THE EDUCATIONAL EXPERIENCE OF THE STUDENT BODY WITH ROOM AND BOARD PROGRAMS DESIGNED TO ENCOURAGE A SPIRIT OF COLLEGIALITY AND CONVERSATION BEYOND THE CLASSROOM AND LABORATORY. IN FALL 2017, LUTHER'S RESIDENCE HALLS HOUSED 1,857 STUDENTS OR 91% OF TOTAL FALL ENROLLMENT. 1801 STUDENTS USED THE COLLEGE'S DINING SERVICE. 453284 PUBLIC SERVICE: OFFERINGS TO THE BROADER COMMUNITY INCLUDE A COLLEGE RADIO STATION, CONFERENCES AND SEMINARS, A PERFORMING ARTS SERIES AND A VARIETY OF PROGRAMS IN THE ARTS, ATHLETICS, SCIENCES, AND LEADERSHIP DEVELOPMENT FOR HIGH SCHOOL STUDENTS. 642360 RESEARCH: THE COLLEGE RECEIVES GRANTS FOR FACULTY/STUDENT RESEARCH COLLABORATION, PARTICULARLY IN THE SCIENCES. THE COLLEGE DEDICATES SPACE, RESOURCES, AND FACULTY TIME FOR COLLABORATIVE INVESTIGATION WITH STUDENTS. RESEARCH PROJECTS ACROSS THE CURRICULUM OCCUR DURING THE ACADEMIC YEAR AND IN THE SUMMER. 1095644 112091906 1 1 0 0 0 0 0 1 1 1 1 1 0 0 1 1 0 1 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 1 0 0 1 1 1 1 0 0 1 X 3996 0 1 2814 1 1 1 1 GM IT MT UK 0 0 0 1 1 1 1 0 0 0 X 24 23 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 MD MI NH X ERIC RUNESTAD 5633871015 700 COLLEGE DRIVE DECORAH IA 52101 JEFFREY ANDERSON BOARD MEMBER 5.00 X 0 0 0 ANN BENTDAHL BOARD MEMBER 5.00 X 0 0 0 MICHAEL BURK BOARD MEMBER 5.00 X 0 0 0 WENDY DAVIDSON VICE CHARIPERSON 5.00 X X 0 0 0 PETER ESPINOSA BOARD MEMBER 5.00 X 0 0 0 DENNIS FLATNESS BOARD MEMBER 5.00 X 0 0 0 ALLEN GREEN BOARD MEMBER 5.00 X 0 0 0 RONALD HAVE BOARD MEMBER 5.00 X 0 0 0 KATHERINE JOHNSON-BECKLIN BOARD MEMBER 5.00 X 0 0 0 SANDEE JOPPA BOARD MEMBER 5.00 X 0 0 0 MICHAEL OSTERHOLM BOARD MEMBER 5.00 X 0 0 0 J ROBERT PAULSON BOARD MEMBER 5.00 X 0 0 0 CONNIE PLAEHN BOARD MEMBER 5.00 X 0 0 0 ARNE M SORENSON BOARD MEMBER 5.00 X 0 0 0 SUSAN SORLIEN BOARD MEMBER 5.00 X 0 0 0 JON M STELLMACHER SECRETARY 5.00 X X 0 0 0 JAMES A THOMSEN JR BOARD MEMBER 5.00 X 0 0 0 DIANE THORMODSGARD BOARD MEMBER 5.00 X 0 0 0 PAUL TORGERSON BOARD MEMBER 5.00 X 0 0 0 CHINYERE UKABIALA BOARD MEMBER 5.00 X 0 0 0 LANCE VANDER LINDEN BOARD MEMBER 5.00 X 0 0 0 JUDY VIJUMS CHAIRPERSON 5.00 X X 0 0 0 ENWEI XIE BOARD MEMBER 5.00 X 0 0 0 JAMES YOUNG BOARD MEMBER 5.00 X 0 0 0 JOHN BUNZ BOARD MEMBER - PART YEAR 5.00 X 0 0 0 PAULA J CARLSON PRESIDENT 45.00 X 275955 0 55271 JAMES JERMIER VP - DEVELOPMENT 45.00 X 140353 0 28892 KEVIN KRAUS VP - ACADEMIC AFFAIRS 45.00 X 156207 0 28530 COREY LANDSTROM VP - STUDENT LIFE 45.00 X 118748 0 23490 ROBIN LARSON VP - COMMUNICATIONS & MARK 45.00 X 98327 0 42972 ERIC RUNESTAD VP - FINANCE & ADMINISTRAT 45.00 X 147310 0 30975 SCOT SCHAEFFER VP - ENROLLMENT 45.00 X 143288 0 64100 AIMEE VINIARD-WEIDEMAN VP - COMMUNICATIONS & MARK 45.00 X 40343 0 5421 BRADLEY CHAMBERLAIN INTERIM DEAN OF INSTITUTIONAL PLANNING/MISSION 45.00 X 104101 0 24827 PAUL MATTSON EXEC DIR ITS & COMP SCIENCE INSTRUCTOR 45.00 X 106856 0 20536 DAVID MITCHELL MATHEMATICS INSTRUCTOR/WRESTLING COACH 45.00 X 129017 0 73276 1460505 0 398290 11 0 1 0 SODEXO INC 10 EARHART DRIVE WILLIAMSVILLE NY 14221 DINING SERVICES 5380338 OPUS DESIGN BUILD LLC 10350 BREN ROAD WEST D MINNETONKA MN 55343 CONSTRUCTION 2330416 MERIT CONTRACTING INC 4750 HIGHWAY 63 NORTH ROCHESTER MN 55906 CONSTRUCTION 1164002 ROYAL & COMPANY 1920 E PARHAM RD RICHMOND VA 23228 RECRUITING/MARKETING 501338 WERNER ELECTRIC SUPPLY PO BOX 856890 DECORAH IA 52101 ELECTRICAL CONTRACTOR 170261 10 57515 1321824 10592669 1286410 11972008 TUITION & FEES 611310 82118960 82118960 SALES & SERVICE AUXILLIARY SERVIC 611310 19060983 19060983 SALES & SERVICE EDUCATIONAL ACTIV 611310 1053895 1053895 102233838 2963505 21040 2942465 168713 211156 -42443 -42443 -42443 11155397 2348 9967489 0 1187908 2348 1190256 1190256 49322 57515 46663 2659 2659 FACILITY USAGE FEES 611310 533607 533607 SUMMER PROGRAMS 721000 439152 439152 FINES & FORTFEITURES 611310 185752 185752 659404 659404 1817915 120137738 102233838 21040 5910852 48159058 48159058 1452952 542770 740388 169794 26316 26316 30211195 25774788 2881735 1554672 1838122 1550402 183613 104107 7603010 6604457 649225 349328 2146560 1799483 228681 118396 57479 7718 49761 68479 68479 107712 107712 1132425 527284 485827 119314 158649 40203 117873 573 2463903 1991164 253018 219721 161345 76238 45627 39480 2245839 2157256 44289 44294 3736414 3511336 105386 119692 1678923 1372660 120791 185472 884660 871720 6470 6470 6518822 6221473 74337 223012 651912 210127 438742 3043 DINING SERVICES 5315792 5315792 EQUIP RENTAL - MAINTENC 3564897 2543486 667187 354224 RESALEABLE MERCHANDISE 1642198 1588505 26846 26847 UBI TAXES 4836 4836 1317728 1225986 52776 38966 123149226 112091906 7379915 3677405 43735541 40074312 4502150 3214387 175211 258646 1984213 1980571 444334 487410 413729 406051 192253900 116722501 79120694 75531399 116989105 122709407 35916166 38346214 5953358 6218847 8428730 10003953 297663231 299231197 7574359 7239875 5154711 5023293 1460434 1331385 27017523 26017627 126672 150500 746927 278343 13723282 11597623 55803908 51638646 X 95643168 95885041 34580368 34905303 111635787 116802207 241859323 247592551 297663231 299231197 X -3011488 7407472 1337244 X X 0 1 X 1 1 1 X 12314775 12699389 12234095 10770029 11972008 59990296 12314775 12699389 12234095 10770029 11972008 59990296 9025521 50964775 3240330 3047114 2938037 2860121 3385717 15471319 16035 43337 21032 8204 21040 109648 75571263 549417527 0.67440 0.69570 X 5375 29027 X X X X 0 0 1 X 162326409 1226094 11511242 3980473 2865626 168217646 150349121 3616025 14900492 3724576 2814653 162326409 152141049 6776127 -2234130 3532817 2801108 150349121 148005664 4820419 5566991 3503373 2748652 152141049 133412268 6905200 13514280 3250977 2575107 148005664 0.17100 0.64400 0.18500 1 0 74043 589538 663581 1708305 137223034 76762206 62169133 37754216 31704173 6050043 14904764 8256122 6648642 75531399 INVESTMENT IN SUBSIDIARY 1555093 C PRIVATE EQUITY FUNDS 7345774 F HEDGE FUNDS 3565226 F REAL ESTATE PARTNERSHIP & REITS 125230 F FUNDS OF FUNDS 21301342 F PARTNERSHIPS, REAL ASSETS 4453549 F 38346214 ANNUITIES PAYABLE 4922307 ASSET RETIREMENT OBLIGATION 2474655 CAPITAL LEASE OBLIGATION 577092 DEPOSITS HELD IN CUSTODY OF OTHERS 272612 PAYROLL LIABILITIES 2503330 STUDENT DEPOSITS 784450 OTHER LIABILTIIES 63177 11597623 X 81192913 7407472 1304022 8711494 72481419 107712 47548607 47656319 120137738 75459683 577227 577227 74882456 107712 48159058 48266770 123149226 PART III, LINE 4: WORKS IN THE COLLECTION INCLUDE PAINTINGS, DRAWINGS, WORKS PRODUCED THROUGH PRINT; PHOTOGRAPHIC; OR OTHER TECHNIQUES WHICH PRODUCE MULTIPLE ORIGINALS; SCULPTURE IN MEDIA; ASSEMBLAGES; TEXTILE; CERAMICS; AND UTILITARIAN OR RITUAL OBJECTS IN ANY MEDIUM WHOSE PRINCIPLE VALUE RESIDES IN THEIR AESTHETIC MERIT. THE FINE ARTS COLLECTION EXISTS TO SUPPORT THE GENERAL MISSION OF THE COLLEGE BY PROMOTING AWARENESS AND UNDERSTANDING OF A BROAD SPECTRUM OF ARTISTIC EXPRESSION THROUGH DIVERSITY IN MEDIA, CULTURE, AND HISTORICAL PERSPECTIVE. AS UNIQUE EXPRESSIONS OF THE HUMAN CONDITION, WORKS IN THE COLLECTION INVIGORATE LEARNING AND TEACHING, AND PROVIDE EXPANDED OPPORTUNITIES FOR STUDY, RESEARCH, AND INDIVIDUAL PLEASURE. PART IV, LINE 2B: STUDENT DEPOSIT ACCOUNTS ARE HELD BY THE COLLEGE FOR VARIOUS STUDENT GROUPS ON CAMPUS AND ARE SHOWN AS LIABILITIES ON THE ORGANIZATION'S BALANCE SHEET. PART V, LINE 4: LUTHER COLLEGE USES THE EARNINGS FROM ITS ENDOWMENT FUND FOR SCHOLARSHIPS, PRIZES, AWARDS, LIBRARY SUPPORT, PROGRAM SUPPORT, FACULTY SUPPORT AND RESEARCH IN ACCORDANCE WITH DONOR RESTRICTIONS WHERE APPLICABLE. PART X, LINE 2: THE COLLEGE FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE COLLEGE FOR UNCERTAIN TAX POSITIONS AS OF MAY 31, 2018 AND 2017. THE COLLEGE'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: ACTUARIAL ADJUSTMENT 859,029. RENTAL EXPENSE 211,157. SUBSIDIARY REVENUE 233,836. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDED/UNFUNDED SCHOLARSHIPS 48,159,058. INTEREST RATE SWAP -610,451. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 211,157. SUBSIDIARY EXPENSES 366,070. PART XII, LINE 4B - OTHER ADJUSTMENTS: FUNDED/UNFUNDED SCHOLARSHIPS 48,159,058. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE COLLEGE CATALOG, VIEW BOOK, APPLICATION FOR ADMISSION, ADMISSIONS GENERAL INFORMATION BROCHURE, AND THE STUDENT HANDBOOK ALL CONTAIN THE COLLEGE'S NONDISCRIMINATORY POLICY. THESE MAJOR PUBLICATIONS ARE PROVIDED TO ALL STUDENTS THROUGHOUT THE ADMISSIONS AND ORIENTATION PROCESS. BECAUSE THE COLLEGE TYPICALLY DRAWS APPROXIMATELY 27% OF ITS STUDENTS FROM IOWA, 36% FROM MN, 11% FROM WI, 8% FROM IL, 10% FROM OUTSIDE THE 4 STATE AREA AND 8% INTERNATIONALLY WE BELIEVE THAT WE QUALIFY FOR THE PUBLICITY EXCEPTION NOTICE PROVIDED BY SECTION 4.01(2)(B) OF REV. PROC 75-50. THE COLLEGE IS ACTIVELY COMMITTED TO PROVIDING OPPORTUNITIES TO STUDENTS FROM DIVERSE BACKGROUNDS. A COORDINATED MULTICULTURAL AND INTERNATIONAL RECRUITMENT EFFORT EXISTS, COUPLED WITH A STRONG NETWORK OF ADVOCACY AND SUPPORT FOR STUDENTS FROM DIVERSE BACKGROUNDS. AS EVIDENCE OF THE COLLEGE'S COMMITMENT, NEARLY 11% OF ITS STUDENTS ARE RACIAL MINORITY STUDENTS. SCHEDULE E, PART I, LINE 6 LUTHER COLLEGE RECEIVES AID OR ASSISTANCE FROM THE GOVERNMENT AGENCIES AND PROGRAMS AS FOLLOWS: STUDENT FINANCIAL ASSISTANCE PROGRAMS CLUSTER, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS, FEDERAL WORK STUDY PROGRAM, FEDERAL PERKINS LOAN PROGRAM, FEDERAL PELL GRANT PROGRAM, FEDERAL DIRECT LOAN PROGRAM, ROBERT C BYRD HONORS SCHOLARSHIPS, TEACHERS EDUCATION ASSISTANCE FOR COLLEGE & HIGHER EDUCATION GRANTS, IOWA TUITION GRANT, IOWA GRANT. SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 PROGRAM SERVICES STUDY ABORAD PROGRAMS 45500 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES STUDY ABORAD PROGRAMS 1564072 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PROGRAM SERVICES STUDY ABORAD PROGRAMS 151073 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 PROGRAM SERVICES STUDY ABORAD PROGRAMS 172258 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES RECRUITMENT 18769 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PROGRAM SERVICES RECRUITMENT 24456 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 727208 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 13562383 0 0 0 0 0 0 16265719 0 16265719 1 0 0 1 1 0 SCHEDULE F, PART IV, LINE 4: THE COLLEGE INVESTS IN PARTNERSHIPS THAT HOLD DIRECT OR INDIRECT INTERESTS IN PASSIVE FOREIGN INVESTMENT COMPANIES. THE INVESTMENT PARTNERSHIPS HAVE PROPERLY FILED FORM 8621, OR THE UNDERLYING INVESTMENTS DID NOT GENERATE ANY UNRELATED BUSINESS INCOME. UNDER THESE FACTS, IT IS NOT NECESSARY FOR THE UNIVERSITY TO FILE FORM 8621. SCHEDULE F, PART IV, LINE 5: THE COLLEGE INVESTS IN PARTNERSHIPS THAT HOLD DIRECT OR INDIRECT INTERESTS IN FOREIGN PARTNERSHIPS. HOWEVER, THE UNIVERSITY DOES NOT MEET THE FILING REQUIREMENTS OF FORM 8865 AS A RESULT. GOLF OUTING 45176 24071 21105 438 16379 6300 GOLF OUTING 26746 16587 10159 8502 1583 2 34915 16857 18058 10989 2472 106837 57515 49322 438 35870 10355 46663 2659 1 MERIT-BASED STUDENT FINANCIAL ASSISTANCE 1839 33235631 NEED-BASED STUDENT FINANCIAL ASSISTANCE 1404 9624682 INTERNATIONAL STUDENT FINANCIAL ASSISTANCE 162 2372714 TUITION BENEFIT STUDENT FINANCIAL ASSISTANCE 145 2926031 PART I, LINE 2: STUDENTS RECEIVING SCHOLARSHIPS AND FELLOWSHIPS ARE DETERMINED BY THE OFFICE OF FINANCIAL AID THROUGH CAREFUL STUDY OF THE INFORMATION ON THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA), THE STUDENT'S ACADEMIC RECORD, TEST SCORES, AND RECOMMENDATIONS. DETAILED RECORDS AND STATISTICS ARE MAINTAINED BY THE OFFICE OF FINANCIAL AID AND THE OFFICE OF ASSESSMENT AND INSTITUTIONAL RESEARCH IN REGARDS TO ALL FINANCIAL AID AWARDED TO STUDENTS OF THE COLLEGE, INCLUDING GRANTS AND SCHOLARSHIPS. X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 PAULA J CARLSON PRESIDENT 251955 0 0 0 24000 0 18900 0 36371 0 331226 0 0 0 JAMES JERMIER VP - DEVELOPMENT 140353 0 0 0 0 0 10192 0 18700 0 169245 0 0 0 KEVIN KRAUS VP - ACADEMIC AFFAIRS 156207 0 0 0 0 0 11230 0 17300 0 184737 0 0 0 ERIC RUNESTAD VP - FINANCE & ADMINISTRAT 134863 0 0 0 12447 0 10849 0 20126 0 178285 0 0 0 SCOT SCHAEFFER VP - ENROLLMENT 141806 0 0 0 1482 0 10336 0 53764 0 207388 0 0 0 DAVID MITCHELL MATHEMATICS INSTRUCTOR/WRESTLING COA 124967 0 0 0 4050 0 4414 0 68862 0 202293 0 0 0 PART I, LINE 1A LUTHER COLLEGE PROVIDES A HOUSE, MAID SERVICE, UTILITIES AND TRAVEL FOR COMPANIONS TO THE PRESIDENT OF THE COLLEGE. THESE BENEFITS ARE LISTED IN THE WRITTEN COMPENSATION POLICY FOR THE COLLEGE AND ARE ALSO IN THE WRITTEN EMPLOYMENT CONTRACT OF THE PRESIDENT. THE HOUSING AND TRAVEL FOR COMPANIONS FOR THE PRESIDENT ARE NOT TREATED AS TAXABLE COMPENSATION BECAUSE THE PRESIDENT'S HOUSE IS USED FOR COLLEGE BUSINESS AND MEETINGS, THE TRAVEL FOR COMPANIONS IS USED EXCLUSIVELY FOR BUSINESS PURPOSES TO BUILD RELATIONSHIPS WITH PROSPECTIVE DONORS TO THE COLLEGE. A CITY OF DECORAH IA 426004485 2015-01-12 6868000 CURRENTLY REFUND CITY OF DECORAH SERIES 2010 BONDS ISSUED 12/21/2010 0 0 0 B IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 2017-09-01 20945000 CURRENTLY REFUND IA HIGHER EDUCTION LOAN AUTHORITY SERIES 2011 0 0 0 A 981613 6868000 20174 6847826 2015 1 0 1 1 B 698167 20945000 115000 20830000 2017 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 1 1 0 0 0 1 A 0 0 0 1 1 0 0 0 1 B 0 0 0 1 1 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: CITY OF DECORAH IA DATE THE REBATE COMPUTATION WAS PERFORMED: 12/01/2015 ISSUER NAME: IOWA HIGHER EDUCATION LOAN AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 09/01/2017 17000 MERIT SCHOLARSHIP STUDENT FINANCIAL AID X 3 5375 FMV X 46 FMV X 2496 FMV X 65 1211647 FMV X 1 59180 APPRAISAL X ACCOMODATIONS 1 3200 COST X BOARD MEETING EXP 3 2831 COST X SCIENTIFIC INSTRUMENT 2 1499 APPRAISAL X EVENT MEALS/BEVERAGES 2 136 COST 3 0 1 1 PART I, COLUMN (B): COLUMN B SHOWS THE NUMBER OF CONTRIBUTIONS. PART I, LINE 32B: REAL ESTATE AGENTS OR ART DEALERS USED TO SELL CONTRIBUTIONS OF REAL PROPERTY. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THIS CORPORATION SHALL BE THOSE INDIVIDUALS HOLDING THE FOLLOWING POSITIONS AND OFFICES: (A) THE VOTING MEMBERS OF THE CHURCHWIDE ASSEMBLY OF THE EVANGELICAL LUTHERAN CHURCH IN AMERICA ENTITLED TO VOTE AT SUCH MEETINGS CHOSEN IN ACCORDANCE WITH THE DISCIPLINE AND USAGE OF SUCH CHURCH, OR ITS SUCCESSOR. SUCH MEMBERS SHALL REMAIN MEMBERS OF THE CORPORATION UNTIL THE CONVENING OF THE SUCCEEDING CHURCHWIDE ASSEMBLY OF THE EVANGELICAL LUTHERAN CHURCH IN AMERICA AT WHICH TIME SUCH MEMBERS SHALL GIVE PLACE TO THE VOTING MEMBERS AT SUCH SUCCEEDING CHURCHWIDE ASSEMBLY, IN ACCORDANCE WITH THE DISCIPLINE AND USAGE OF SAID CHURCH, OR ITS SUCCESSOR. (B) THE MEMBERS OF THE BOARD OF REGENTS OF THIS CORPORATION. (C) THE PRESIDENT OF THE COLLEGE OPERATED BY THIS CORPORATION (D) THE OFFICERS OF THE ADMINISTRATION OF THE COLLEGE. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BODY OF LUTHER COLLEGE IS THE BOARD OF REGENTS. THE BOARD OF REGENTS ARE LISTED AS MEMBERS OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PREPARED BY THE ACCOUNTING MANAGER, REVIEWED BY THE CONTROLLER, AND IS REVIEWED BY THE VP FOR FINANCE AND ADMINISTRATION. THE 990 IS THEN SENT TO THE FIRM OF BAKER TILLY VIRCHOW KRAUSE LLP FOR REVIEW AND ENTRY INTO THEIR TAX SOFTWARE. AFTER ALL REVIEWS ARE COMPLETED, THE 990 IS PRESENTED TO THE AUDIT COMMITTEE FOR THEIR REVIEW AND APPROVAL. AFTER AUDIT COMMITTEE APPROVAL, THE 990 IS SENT TO EACH BOARD MEMBER, AND THE COMPLETED 990 IS SIGNED BY THE VP FOR FINANCE AND ADMINISTRATION, AND A PARTNER FROM BAKER TILLY VIRCHOW KRAUSE LLP AND IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C LUTHER COLLEGE'S CONFLICT OF INTEREST POLICY AND DISCLOSURE STATEMENT IS SENT OUT TO THE BOARD OF REGENTS, AUDIT COMMITTEE, INVESTMENT COMMITTEE, PRESIDENT, VICE PRESIDENTS, AND KEY EMPLOYEES OF THE COLLEGE IN MAY OF EACH YEAR. EACH RECIPIENT IS REQUIRED TO READ THE POLICY AND TO COMPLETE, SIGN, AND RETURN THE DISCLOSURE STATEMENT TO THE OFFICE FOR FINANCIAL SERVICES TO BE REVIEWED FOR POTENTIAL INTERESTS THAT COULD GIVE RISE TO CONFLICTS. LUTHER COLLEGE'S CONFLICT OF INTEREST POLICY AND DISCLOSURE STATEMENT ADDRESSES ALL AREAS OF CONCERN EXPRESSED ON FORM 990. FORM 990, PART VI, SECTION B, LINE 15 THE DIRECTOR OF HUMAN RESOURCES AND THE PRESIDENT OF THE COLLEGE WILL GATHER THE FOLLOWING BENCHMARK SALARY DATA: 1. MEDIAN SALARIES FOR CUPA (COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION) PRIVATE RELIGIOUS COLLEGES WITH COMPARABLE ENROLLMENT. 2. MEDIAN AND MAXIMUM SALARIES FOR 26 IOWA PRIVATE COLLEGES. 3. MEDIAN AND MAXIMUM SALARIES FOR ACM (ASSOCIATED COLLEGES OF THE MIDWEST) AND GLCA (GREAT LAKES COLLEGES ASSOCIATION) COLLEGES. 4. MEDIAN AND MAXIMUM SALARIES FOR 15 REGIONAL CUPA (COLLEGES AND UNIVERSITIES PROFESSIONAL ASSOCIATION) COLLEGES. THE PRESIDENT OF THE COLLEGE WILL REVIEW AND PRESENT THE PRESIDENTIAL AND VICE PRESIDENTIAL BENCHMARK INDICATORS TO THE BOARD OF REGENTS. AT THE OCTOBER BOARD MEETING, THE BOARD OF REGENTS WILL MEET TO REVIEW THE FOUR SALARY BENCHMARK INDICATORS AND WILL DETERMINE AND APPROVE COMPENSATION FOR THE PRESIDENT AND VICE PRESIDENTS OF THE COLLEGE. THE BOARD OF REGENTS WILL ALSO REVIEW THE NON-SALARY COMPENSATION BENEFITS PROVIDED TO THE OFFICERS. THE CHAIRPERSON OF THE BOARD OF REGENTS WILL NOTIFY THE DIRECTOR OF HUMAN RESOURCES IN WRITING, THROUGH A MEMO OR E-MAIL WITH THE APPROVAL OF COMPENSATION FOR THE PRESIDENT AND VICE PRESIDENTS. THIS INFORMATION WILL BE RECORDED IN THE MINUTES OF THE MEETING AND WILL BE MAINTAINED IN A CONFIDENTIAL ARCHIVE. THIS PROCESS WAS LAST COMPLETED IN OCTOBER, 2017. FORM 990, PART VI, SECTION C, LINE 19 COPIES OF LUTHER COLLEGE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AUDITED FINANCIAL STATEMENTS, AND FORMS 990 & 990-T ARE AVAILABLE TO THE PUBLIC UPON REQUEST AT THE OFFICE FOR FINANCIAL SERVICES, 700 COLLEGE DRIVE, DECORAH, IA 52101. THE AUDITED FINANCIAL STATEMENTS ARE ALSO AVAILABLE ONLINE AT WWW.LUTHER.EDU/FINANCIALSERVICES. FORM 990, PART XI, LINE 9: ACTUARIAL ADJUSTMENT 859,026. INTEREST RATE SWAP 610,451. SUBSIDIARY REVENUE 233,836. SUBSIDIARY EXP -366,069. 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