2019-04-15T10:32:28-05:00 2018-05-31 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 777 E WISCONSIN AVENUE FLOOR 32 MILWAUKEE WI 53202 990 2017-06-01 420680412 LORAS COLLEGE LORA 5635887100 1450 ALTA VISTA STREET DUBUQUE IA 52001 JAMES COLLINS PRESIDENT 5635884992 2019-04-10 1 TROY MARINE CPA P00187863 4147775500 2019-04-10 38.122.82.115 2019-04-10 15:09:50 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 F6719D0144B06E6FC05F7FF323A3B40607EDAFB2 2017 2019-02-21 02:37:17Z JAMES COLLINS 1450 ALTA VISTA STREET DUBUQUE IA 52001 79871842 0 X WWW.LORAS.EDU X 1839 IA EDUCATION 31 30 1227 495 153350 84049 6741617 10537499 55182579 54734772 1078673 778426 1572258 237487 64575127 66288184 25730615 25785265 0 0 20768765 21033960 0 0 1744740 17904860 17798275 64404240 64617500 170887 1670684 110628421 112357862 71665402 70404940 38963019 41952922 X LORAS, AS A CATHOLIC LIBERAL ARTS COLLEGE, CREATES A COMMUNITY OF ACTIVE LEARNERS, REFLECTIVE THINKERS, ETHICAL DECISION MAKERS AND RESPONSIBLE CONTRIBUTORS IN DIVERSE PROFESSIONAL, SOCIAL AND RELIGIOUS ROLES. 0 0 25656735 25656735 SCHOLARSHIPS AND GRANTS TO STUDENTS 13839521 45483252 INSTRUCTION AND ACADEMIC SUPPORT PROVIDED TO FULL AND PART TIME STUDENTS (1,418 FULL TIME EQUIVALENT STUDENTS). 9330398 3566546 STUDENT SERVICES, INCLUDING STUDENT DEVELOPMENT, INTERCOLLEGIATE ATHLETICS AND OTHER SERVICES. 12451186 128530 5684974 OTHER PROGRAM SERVICES INCLUDE AUXILIARY PROGRAMS SUCH AS HOUSING AND FOOD SERVICE, RESEARCH, PUBLIC SERVICE AND INSTITUTIONAL SUPPORT. 12451186 128530 5684974 61277840 1 1 0 0 0 0 0 1 1 1 1 0 1 0 1 1 1 0 1 0 1 0 0 0 1 1 0 1 1 1 1 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 1 0 0 0 1 144 3 1 1227 1 1 1 0 0 0 0 1 1 0 0 0 0 X 31 30 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL CA X RENNIE ROOT 5635887775 1450 ALTA VISTA STREET DUBUQUE IA 52001 X WILLIAM GLYNN REGENT 1.00 X 0 0 0 TROY L CICERO REGENT 1.00 X 0 0 0 TONY REARDON CHAIR, REGENT 1.00 X X 0 0 0 TOM TAUKE REGENT 1.00 X 0 0 0 TIMOTHY SUTHER REGENT 1.00 X 0 0 0 THOMAS M SHEY REGENT 1.00 X 0 0 0 THOMAS M MCCARTY REGENT 1.00 X 0 0 0 THERESA HOFFMAN REGENT 1.00 X 0 0 0 STEVE SLOAN REGENT 1.00 X 0 0 0 SIOBHAN O'CONNOR HARTSELL REGENT 1.00 X 0 0 0 SHA-CHELLE MANNING REGENT 1.00 X 0 0 0 RICHARD KENNEY REGENT 1.00 X 0 0 0 RICH CLAYTON SECRETARY, REGENT 1.00 X X 0 0 0 REV MSGR JAMES BARTA REGENT 1.00 X 0 0 0 PAUL BREITBACH REGENT 1.00 X 0 0 0 MSGR JOHN ENZLER REGENT 1.00 X 0 0 0 MOST REV MICHAEL JACKALS CHANCELLOR, REGENT 1.00 X X 0 0 0 MIKE VALDER REGENT 1.00 X 0 0 0 MICHAEL RICE REGENT 1.00 X 0 0 0 MARY MEEHAN VICE CHAIR, REGENT 1.00 X X 16000 0 0 MARK MOLO REGENT 1.00 X 0 0 0 JOSEPH SCHIESL VICE CHAIR, REGENT 1.00 X X 0 0 0 JOHN K SCHMIDT REGENT 1.00 X 0 0 0 MARK CLOGHESSY REGENT 1.00 X 0 0 0 GREG GUMBEL REGENT 1.00 X 0 0 0 GREG BURBACH REGENT 1.00 X 0 0 0 GENE MURPHY REGENT 1.00 X 0 0 0 DON ULRICH REGENT 1.00 X 0 0 0 DENNIS HOULIHAN REGENT 1.00 X 0 0 0 DAVID MEYERS REGENT 1.00 X 0 0 0 DAVID W SPAHN REGENT 1.00 X 0 0 0 RICHARD SCALISE REGENT 1.00 X 0 0 0 JAMES E COLLINS PRESIDENT 40.00 X X 348429 0 72699 MARY ELLEN CARROLL SENIOR VICE PRESIDENT 40.00 X 123825 0 30580 MIKE DOYLE TREASURER, VP FOR INSTITUTIONAL ADV. 40.00 X 160937 0 30386 CRAIG SCHAEFER DIRECTOR OF TV STUDIO 40.00 X 128631 0 28642 777822 0 162307 4 0 1 0 ARAMARK 1450 ALTA VISTA DUBUQUE IA 52004 FOOD SERVICE 2823054 HORSFIELD CONSTRUCTION INC 505 E MAIN ST EPWORTH IA 52045 CONSTRUCTION 293065 GIESE ROOFING CO 2820 ELM STREET DUBUQUE IA 52001 CONSTRUCTION 209796 THE COLLEGE BOARD 250 VESEY STREET NEW YORK NY 10281 RECRUITING 144284 UNION HOERMANN PRESS 2175 KERPER BLVD DUBUQUE IA 52001 PRINTING 121752 7 713243 9824256 377574 10537499 COLLEGE FEES & SERVICES 611310 44543913 44543913 SALES & SERVICES OF AUXILIARY ENT 611710 8876977 8876977 SALES & SERVICES OF EDUCATIONAL E 611710 391432 391432 FINE INCOME 611710 107349 107349 DELINQUENCY CHARGES 611710 65654 65654 749447 749447 54734772 732280 732280 13393642 226766 13514512 59750 -120870 167016 46146 46146 73148 0 73148 73148 20385 9396 10989 10989 EXT. EVENTS & CATERING INCOME 722320 152403 152403 ADVERTISING 541800 947 947 153350 66288184 54734772 153350 862563 128530 128530 25656735 25656735 990546 283068 439162 268316 15934288 14831251 268219 834818 768035 709358 15498 43179 2214527 2011124 77445 125958 1126564 1015827 39755 70982 31090 31090 82044 82044 85646 85646 1560201 1445149 82554 32498 101862 93402 8460 2218472 2022742 55539 140191 1277983 1203717 39770 34496 1235392 1235392 1211608 1142569 20848 48191 56163 54146 1617 400 2038545 2038545 2498974 2498974 454962 454962 FOOD SERVICE 2950000 2950000 REPAIRS AND MAINTENANCE 712688 709446 510 2732 FOOD/ENTERTAINMENT 278071 200606 22086 55379 UBIT PAID 17686 17686 986888 592297 315451 79140 64617500 61277840 1594920 1744740 6045 5723 3256017 3286176 30957017 27520493 434223 279993 41462 29404 435573 338447 102814732 56905250 46923552 45909482 16697837 21745468 2281762 3383451 5630534 5775257 3964399 4083968 110628421 112357862 3314035 4041428 3849024 3660055 41532321 47442538 688994 680127 5713667 6660273 16567361 7920519 71665402 70404940 X -32684201 -31760249 50618891 52094313 21028329 21618858 38963019 41952922 110628421 112357862 X 1670684 1000620 318599 X X 0 1 X 1 1 1 X 5020 492742 X X X X 0 0 1 X 32809324 5640094 1556630 631935 466668 38907445 30192189 1321831 2150610 676300 179006 32809324 29851013 1440285 -314112 642019 142978 30192189 28395574 1484406 586116 417305 197778 29851013 23667758 3557328 1620849 315901 134460 28395574 0.00500 0.47230 0.52270 0 0 1203961 1203961 78288871 39028330 39260541 11590993 10221985 1369008 11730907 7654935 4075972 45909482 STUDENT LOANS 5461458 F CASH AND CASH EQUIVALENTS 313799 F 5775257 ANNUITIES AND UNITRUSTS PAYABLE 746928 ACCRUED LOSS ON INTEREST RATE SWAP 3177635 DUE TO US GOVERNMENT 3006395 FINANCING OBLIGATION 989561 7920519 X 41914831 1000620 36000 448842 1485462 40429369 35064 25823751 25858815 66288184 38924929 36000 -36772 -772 38925701 35064 25656735 25691799 64617500 PART III, LINE 4: THE COLLEGE MAINTAINS VARIOUS ARTWORKS, MANUSCRIPTS, STATUES, PAINTINGS, BOOKS AND FURNITURE THAT PRESERVES THE HERITAGE OF THE COLLEGE AND PROMOTES SCHOLARSHIP ENDEAVORS. PART IV, LINE 2B: THE FUNDS HELD FOR OTHERS ARE AGENCY ACCOUNTS HELD FOR VARIOUS STUDENT ORGANIZATIONS OF LORAS COLLEGE. PART V, LINE 4: THE ENDOWMENT HAS BEEN ESTABLISHED TO PROVIDE A SUFFICIENT TOTAL RETURN TO SUPPLEMENT THE COLLEGE'S VARIOUS SOURCES OF OPERATING INCOME AND TO SUPPORT IN PERPETUITY THE MISSION OF THE COLLEGE. 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 OR 2017. THE COLLEGE'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED GAIN/LOSS ON INTEREST RATE SWAP 1,582,539. WRITE-OFFS FROM UNCOLLECTIBLE PLEDGES -1,135,650. PRESENT VALUE ADJUSTMENT OF PLEDGES 1,953. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS REPORTED AS CONTRA INCOME 25,656,735. GAIN/LOSS FROM SALE OF ASSETS 167,016. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN BENEFICIAL INTEREST IN TRUSTS 130,244. GAIN/LOSS FROM SALE OF ASSETS -167,016. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS REPORTED AS CONTRA INCOME 25,656,735. 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 COLLEGE'S NONDISCRIMINATORY POLICY IS PUBLISHED IN ITS UNDERGRADUATE BULLETIN AND STUDENT HANDBOOK AS WELL AS AVAILABLE VIA ITS WEBSITE. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FINANCIAL AID FROM FEDERAL AND STATE GOVERNMENTS. THE AID IS THEN AWARDED TO STUDENTS IN ACCORDANCE WITH THE GUIDELINES ESTABLISHED FOR EACH FORM OF FINANCIAL AID. EUROPE 0 0 PROGRAM SERVICES STUDY ABROAD 202399 CENTRAL AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 108503 SOUTH ASIA 0 0 PROGRAM SERVICES STUDY ABROAD 96135 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 13595 0 0 0 0 0 0 420632 0 420632 0 0 0 0 0 0 ATHLETICS FUNDRAISER 72962 72962 2 186 186 73148 73148 73148 20385 2228 7168 1 20385 2228 7168 9396 10989 IA 1 0 1 0 0.91000 0.09000 RENNIE ROOT 1450 ALTA VISTA STREET DUBUQUE IA 52001 0 RENNIE ROOT 0 RENNIE SPENDS MINIMAL TIME ON GAMING SERVICES SO NONE OF THE SALARY OF HER REGULAR POSITION IS REPORTED HERE. ALL RECEIPTS, DEPOSITS, PAYMENTS, AND REPORTING IS RUN THROUGH THE GENERAL OPERATIONS OF THE BUSINESS OFFICE OF THE COLLEGE. RENNIE OVERSEES THE OPERATIONS OF THE BUSINESS OFFICE AND DELEGATES THE TASKS RELATED TO GAMING TO SEVERAL DIFFERENT EMPLOYEES. X 0 SCHEDULE G, PART III, LINE 6, VOLUNTEER LABOR: THE COLLEGE UTILIZED THE AID OF VOLUNTEERS IN CONDUCTING ITS FUNDRAISING AND GAMING ACTIVITIES HOWEVER, THE EXACT PERCENTAGE OF VOLUNTEER LABOR USED IS UNKNOWN. 1 STATE UNIVERSITY OF IOWA ONE WEST PARK RD PO BOX 4550 IOWA CITY IA 52244 420796760 501(C)(3) 128530 RAISED FUNDS TO SUPPORT THE CHILDREN'S MIRACLE NETWORK HOSPITALS THROUGH THE STATE UNIVERSITY OF IOWA FOUNDATION 1 SCHOLARSHIP AID FOR STUDENTS' COST OF ATTENDANCE 1356 25656735 PART I, LINE 2: THE COLLEGE'S OFFICE OF FINANCIAL PLANNING MONITORS ALL AWARDS TO ENSURE COMPLIANCE WITH FEDERAL AND STATE REGULATIONS. ADDITIONALLY, THE COLLEGE ENGAGES AN INDEPENDENT AUDIT IN ACCORDANCE WITH OMB A-133. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 JAMES E COLLINS PRESIDENT 294917 0 46200 0 7312 0 18054 0 54645 0 421128 0 0 0 MARY ELLEN CARROLL SENIOR VICE PRESIDENT 123604 0 0 0 221 0 9100 0 21480 0 154405 0 0 0 MIKE DOYLE TREASURER, VP FOR INSTITUTIONAL ADV. 158434 0 0 0 2503 0 11550 0 18836 0 191323 0 0 0 CRAIG SCHAEFER DIRECTOR OF TV STUDIO 128576 0 0 0 55 0 4862 0 23780 0 157273 0 0 0 PART I, LINE 1A THE HOUSING ALLOWANCE ACCOUNT FOR AN EMPLOYEE IS PART OF THE NORMAL TAXABLE WAGES PAID TO THE EMPLOYEE AND IS INCLUDED AS PART OF THE EMPLOYEE'S TAXABLE INCOME. COUNTRY CLUB DUES ARE PROVIDED TO CERTAIN EMPLOYEES AS A MEANS TO THE COLLEGE EXPANDING ITS CHARITABLE PURPOSE. ANY PORTION OF THE DUES ATTRIBUTABLE TO THE PERSONAL USE BY THE EMPLOYEE ARE ADDED TO THE EMPLOYEE'S W-2; ONLY THE PORTION ALLOCABLE TO THE BUSINESS PURPOSE OF THE COLLEGE ARE ALLOWED. A IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 462460ZC3 2006-10-01 22035000 REFINANCE 1996 ISSUE, CONSTRUCTION 0 0 0 B IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 NONEAVAIL 2011-11-01 2500000 REFINANCE PORTION OF 2002 ISSUE 0 0 0 C IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 NONEAVAIL 2017-12-28 10204000 REFUND PORTION OF 2000 ISSUE 0 0 0 A 5560000 22387491 640689 137760 751533 13853174 7004335 2007 1 0 1 1 B 700000 2500000 2500000 2011 1 0 1 1 C 10204000 10204000 2017 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 A 0 0 1 0 1 0 0 0 1 B 0 0 1 0 1 0 0 0 1 C 0 0 1 0 1 0 0 0 1 A 1 B 1 C 1 SCHEDULE K, PART II, COLUMN A: EXCESS PROCEEDS OF 352,491 ATTRIBUTED TO INVESTMENT EARNINGS. SUBJECT TO FERPA LAWS 99102 GRANTS/SCHOLARSHIPS ASSISTANCE TO STUDENTS ATTENDING THE COLLEGE AMERICAN TRUST & SAVINGS BANK BOARD MEMBER OF BANK IS ON THE BOARD OF REGENTS OF THE COLLEGE 221722 BANKING TRANSACTIONS 0 X 2 5020 APPRAISAL X 700 DONOR VALUATION X 23 329425 AVG HIGH/LOW SHARE VALUE X CONSTRUCTION 4 19097 DONOR VALUATION X MEETING EXPENSE 7 12719 DONOR VALUATION X OFFICE EQUIPMENT 3 4111 DONOR VALUATION X FOOD/BEVERAGE 9 3991 DONOR VALUATION X EQUIPMENT 1 1299 DONOR VALUATION X PRIZES 12 1212 DONOR VALUATION 0 1 1 PART I, LINE 32B: LORAS COLLEGE'S FINANCIAL INSTITUTION SELLS ALL PUBLICLY TRADED SECURITIES AT THE TIME OF GIFT ON BEHALF OF LORAS COLLEGE THROUGH AN INDEPENDENT BROKER. FORM 990, PART VI, SECTION B, LINE 11B THE COLLEGE MAKES THE 990 AVAILABLE TO ALL BOARD MEMBERS VIA A SECURE PORTAL WEBSITE PRIOR TO FILING WITH THE IRS. THIS IS THE PROCESS BY WHICH THE BOARD MEMBERS REVIEW THE 990. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, EACH OFFICER, DIRECTOR AND KEY EMPLOYEE MUST FILE A STATEMENT VERIFYING HE/SHE HAS READ THE CONFLICT OF INTEREST POLICY AND IS DISCLOSING ANY CONFLICTS OF INTEREST. EACH STATEMENT IS SENT DIRECTLY TO THE AUDIT COMMITTEE CHAIRPERSON. THE CHAIR AND THE COLLEGE'S TREASURER REVIEW EACH STATEMENT. IN ADDITION, THE TREASURER AND CONTROLLER MONITOR ANY TRANSACTIONS THROUGHOUT THE YEAR BETWEEN SUCH PARTIES. EACH TRANSACTION IS LOGGED WITH THE COLLEGE'S GENERAL LEDGER SYSTEM. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS USED BY THE COLLEGE IN DETERMINING COMPENSATION OF KEY EMPLOYEES IS: - BOARD-APPOINTED COMPENSATION COMMITTEE REVIEWS ALL RECOMMENDED COMPENSATION LEVELS. - COMPARATIVE BENCHMARK DATA IS USED (IAICU, CUPA, AND OTHERS). - WRITTEN EMPLOYMENT CONTRACTS ARE IN PLACE FOR THE PRESIDENT AND OTHER KEY EMPLOYEES IN ACCORDANCE WITH THE COLLEGE'S HANDBOOKS. - COMPENSATION IS FORMALLY APPROVED BY THE FULL BOARD OF REGENTS. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST STATEMENT AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC VIA ANOTHER'S WEBSITE SUCH AS GUIDESTAR.ORG, OR UPON REQUEST. THE COLLEGE'S AUDITED FINANCIAL STATEMENTS ARE ALSO AVAILABLE TO THE PUBLIC VIA THE MUNICIPAL SECURITIES RULE MAKING BOARD WEBSITE. FORM 990, PART VII, SECTION A, COLUMN E REASONABLE EFFORTS UNDERTAKEN IN REGARD TO REPORTABLE COMPENSATION FROM RELATED ORGANIZATIONS: - RECEIVED A COMPLETED CONFLICT OF INTEREST STATEMENT FROM ALL TRUSTEES, OFFICERS, AND BOARD MEMBERS. THIS STATEMENT IS COMPLETED ANNUALLY. - ALL RELATED PARTIES ARE DISCLOSED ON SCHEDULE R. FINANCIAL RECORDS ARE AVAILABLE TO THE COLLEGE. FORM 990, PART XI, LINE 9: UNREALIZED GAIN/LOSS ON INTEREST RATE SWAP 1,582,539. CHANGE IN SPLIT INTEREST AGREEMENT -130,244. PRESENT VALUE ADJUSTMENT OF PLEDGES 1,953. WRITE-OFFS FROM UNCOLLECTIBLE PLEDGES -1,135,650. ROUNDING 1. FORM 990, PART XII, LINE 2C THE OVERSIGHT PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. PERPETUAL TRUSTS (1) CHARITABLE TRUST IA T 0 CHARITABLE REMAINDER UNITRUST (4) CHARITABLE TRUST IA T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0