2018-11-14T14:25:57-06:00 2018-06-30 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 777 E WISCONSIN AVENUE 32ND FLOOR MILWAUKEE WI 53202 990 2017-07-01 390806297 LAWRENCE UNIVERSITY OF WISCONSIN LAWR 9208327000 711 E BOLDT WAY APPLETON WI 54911 CHRISTOPHER LEE VP FOR FINANCE & ADMINISTRATION 9208327000 2018-11-14 1 TROY E MARINE CPA P00187863 4147775500 2018-11-13 69.11.230.151 2018-11-14 08:02:36 CS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 865499E6F4DA7E28AF79A2E5E25D150257ECAF1A 2017 2019-02-21 02:37:17Z CHRISTOPHER LEE 711 E BOLDT WAY APPLETON WI 54911 595066789 0 X WWW.LAWRENCE.EDU X 1847 WI TO PROVIDE A HIGH QUALITY, LIBERAL ARTS EDUCATION AND SOUND CAREER PREPARATION TO ITS STUDENTS. 36 35 1971 600 32536 0 22953290 16182689 81081188 80028536 2230132 72016687 418922 446996 106683532 168674908 36493513 37446126 0 0 40497735 42490859 47793 51290 3240256 28352132 28562493 105391173 108550768 1292359 60124140 466328294 484062741 61874096 62692050 404454198 421370691 X LAWRENCE UNIVERSITY OF WISCONSIN, THROUGH ITS UNDERGRADUATE RESIDENTIAL COLLEGE AND CONSERVATORY OF MUSIC, EDUCATES STUDENTS IN THE LIBERAL ARTS AND SCIENCES. THE UNIVERSITY IS DEVOTED TO EXCELLENCE AND INTEGRITY IN ALL OF ITS ACTIVITIES AND COMMITTED TO THE DEVELOPMENT OF INTELLECT AND TALENT, THE PURSUIT OF KNOWLEDGE AND UNDERSTANDING, THE CULTIVATION OF SOUND JUDGMENT, AND RESPECT FOR THE PERSPECTIVES OF OTHERS. LAWRENCE PREPARES STUDENTS FOR LIVES OF ACHIEVEMENT, RESPONSIBLE AND MEANINGFUL CITIZENSHIP, LIFELONG LEARNING, AND PERSONAL FULFILLMENT. AS A LEARNING COMMUNITY OF SCHOLARS AND ARTISTS WE ENGAGE EACH OTHER IN A TRANSFORMATIVE PROCESS THAT EMPHASIZES INDIVIDUALIZED LEARNING, SUPPORTED BY AN ENVIRONMENT OF RICH EDUCATIONAL OPPORTUNITIES IN A RESIDENTIAL CAMPUS SETTING. 0 0 63730752 37434126 65126661 PROVIDE LIBERAL ARTS INSTRUCTION TO APPROXIMATELY 1500 UNIVERSITY STUDENTS. LAWRENCE CURRICULUM PROMOTES EXPOSURE TO A WIDE RANGE OF SUBJECT MATTERS AND INTELLECTUAL APPROACHES. IT ALSO CALLS FOR THE FOCUSED STUDY OF A SINGLE AREA OF KNOWLEDGE. WITHIN THIS GENERAL FRAMEWORK, THE STUDENT EXERCISES WIDE LATITUDE IN BUILDING A COURSE OF STUDY. A LAWRENCE EDUCATION, THEN, RESULTS FROM CONSIDERED CHOICES. THE COLLEGE PROVIDES AMPLE ROOM FOR SUCH CHOICES AND ENCOURAGES STUDENTS TO EXERCISE THEM BOLDLY. THE LAWRENCE UNIVERSITY CONSERVATORY OF MUSIC, NOW IN ITS SECOND CENTURY OF EDUCATING STUDENTS FOR CAREERS IN MUSIC, IS A NATIONALLY RECOGNIZED CONSERVATORY DEVOTED EXCLUSIVELY TO THE EDUCATION OF UNDERGRADUATES WITHIN A DISTINGUISHED COLLEGE OF THE LIBERAL ARTS AND SCIENCES. A SUPERB FACULTY OF PERFORMERS, COMPOSERS, SCHOLARS, AND TEACHERS PRIDE THEMSELVES ON THE INDIVIDUAL ATTENTION GIVEN TO MUSIC MAJORS WHO PURSUE THEIR UNDERGRADUATE DEGREES AT LAWRENCE. 10541980 12892582 PROVIDE FOOD SERVICE AND HOUSING TO 1500 UNIVERSITY STUDENTS. 10449956 12000 575957 PROVIDE STUDENTS WITH SERVICES SUCH AS MUSIC, ATHLETICS, COMMUNITY INVOLVEMENT, RESIDENTIAL LIFE, COUNSELING, HEALTH CENTER, AND MULTICULTURAL AFFAIRS. 7476558 1824559 PROVIDE ACADEMIC SUPPORT TO APPROXIMATELY 1500 STUDENTS THROUGH LIBRARY FACILITIES AND COMPUTER SERVICE AND PROVIDE PUBLIC SERVICE THROUGH OUR BJORKLUDEN CAMPUS IN DOOR COUNTY AND THE ACADEMY OF MUSIC PROGRAM. 7476558 1824559 92199246 1 1 0 0 0 0 0 1 1 1 1 1 0 0 1 1 1 0 1 1 1 0 0 1 1 1 0 1 1 1 1 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 1 324 0 1 1971 1 1 1 1 UK 0 0 0 1 1 1 1 0 0 0 X 36 35 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 WI X AMY PRICE 9208327164 711 E BOLDT WAY APPLETON WI 54911 ABIR SEN TRUSTEE 1.00 X 0 0 0 ANDREW J WONG TRUSTEE 1.00 X 0 0 0 ANTON R VALUKAS TRUSTEE 1.00 X 0 0 0 CHARLES D SAUNDERS TRUSTEE 1.00 X 0 0 0 CHARLOT NELSON SINGLETON TRUSTEE 1.00 X 0 0 0 CORY L NETTLES TRUSTEE 1.00 X 0 0 0 DALE R SCHUH TRUSTEE, SECRETARY 1.00 X X 0 0 0 DAVID BLOWERS TRUSTEE, VICE CHAIR 1.00 X X 0 0 0 DR PETER R BETZER TRUSTEE 1.00 X 0 0 0 DERRELL ACON TRUSTEE 1.00 X 0 0 0 J TERRENCE FRANKE TRUSTEE 1.00 X 0 0 0 JOANNA L DE PLAS TRUSTEE 1.00 X 0 0 0 JOHN D HUBER PHD TRUSTEE 1.00 X 0 0 0 KK TSE TRUSTEE 1.00 X 0 0 0 LAURA KOHLER TRUSTEE 1.00 X 0 0 0 LOUIS B BUTLER JR TRUSTEE 1.00 X 0 0 0 MARK BURSTEIN PRESIDENT 40.00 X X 376659 0 75008 MARTHA J OLSON TRUSTEE 1.00 X 0 0 0 MICHAEL P CISLER TRUSTEE 1.00 X 0 0 0 OMAR SAYEED TRUSTEE 1.00 X 0 0 0 LYDIA HOWARTH TRUSTEE 1.00 X 0 0 0 PETER M MUSSER TRUSTEE 1.00 X 0 0 0 RENEE GORAL BOLDT TRUSTEE 1.00 X 0 0 0 RICHARD G FESSLER TRUSTEE 1.00 X 0 0 0 DAVID KNAPP TRUSTEE 1.00 X 0 0 0 ROBERT PERILLE TRUSTEE 1.00 X 0 0 0 RON MCCOY TRUSTEE 1.00 X 0 0 0 SARAH E SCHOTT TRUSTEE 1.00 X 0 0 0 SCOTT D MYERS TRUSTEE 1.00 X 0 0 0 SHELLEY A DAVIS TRUSTEE 1.00 X 0 0 0 STEPHANIE H VRABEC TRUSTEE 1.00 X 0 0 0 SUSAN STILLMAN KANE TRUSTEE, CHAIR 1.00 X X 0 0 0 TAMIKA WATSON FRANKLIN TRUSTEE 1.00 X 0 0 0 TERRY MORAN TRUSTEE 1.00 X 0 0 0 WILLIAM J BAER TRUSTEE 1.00 X 0 0 0 WILLIAM O HOCHKAMMER TRUSTEE 1.00 X 0 0 0 SARA QUANDT TRUSTEE 1.00 X 0 0 0 CHRISTOPHER LEE TREASURER VP FOR FINANCE & ADMINISTRATION 40.00 X 189997 0 25765 KEN ANSELMENT DEAN OF ADMISSIONS & FA 40.00 X 153763 0 35472 CALVIN HUSMANN VP FOR DEVELOPMENT & ALUMNI 40.00 X 198938 0 36641 KIMBERLY BARRETT VP DIV INCLUSION & ASSOC DEAN FACULTY 40.00 X 146190 0 17999 CHRISTOPER CARD VP FOR STUDENT LIFE 40.00 X 61805 0 4036 CATHERINE KODAT PROVOST AND DEAN OF FACULTY 40.00 X 92653 0 2585 DAVID BURROWS DEAN OF FACULTY 40.00 X 181491 0 32115 NANCY TRUESDELL DEAN OF STUDENTS 40.00 X 127286 0 27340 BRIAN PERTL DEAN OF CONSERVATORY 40.00 X 174568 0 35474 JEFFREY STANNARD ASSOC DEAN OF CONSERVATORY 40.00 X 116983 0 7412 MARY MEANY DEAN OF CAREER SERVICES 40.00 X 119855 0 14265 1940188 0 314112 18 0 1 0 BON APPETIT PO BOX 37613 BOONE IA 500374613 BOARDING COSTS/FOOD 4894090 THE BOLDT COMPANY 100 WEST LAWRENCE STREET APPLETON WI 54912 CONSTRUCTION 695112 FOUNDATION FOR INTERNATIONAL EDUCATION 114 CROMWELL ROAD LONDON GB UK SW7 4ES LONDON PROGRAM 547350 INSTITUTE FOR INT'L EDUCATION OF STUDENT 33 W MONROE STREET SUITE 2300 CHICAGO IL 60603 OFF CAMPUS PROGRAMS 476945 ASSOCIATED COLLEGES OF THE MIDWEST 11 E ADAMS STREET CHICAGO IL 60603 OFF CAMPUS PROGRAMS 356663 22 7750 668707 15506232 787660 16182689 TUITION AND FEES 611710 65126661 65126661 ROOM AND BOARD 611710 12892582 12892582 AUXILIARY ENTERPRISES 611710 1824559 1824559 SUMMER CAMPS & EVENTS 611710 140220 140220 CONSERVATORY 611710 43153 43153 1361 1361 80028536 4212849 4212849 14079 0 14079 14079 14079 494068735 114671 426144568 235000 67924167 -120329 67803838 67803838 18105 7750 10426 7679 7679 17450 1887 15563 15563 MISCELLANEOUS 611710 409675 391218 18457 409675 168674908 80419754 32536 72039929 12000 12000 37434126 37434126 1417511 1417511 31836639 25969920 3528409 2338310 1975750 1585820 250598 139332 4996584 1349469 3628159 18956 2264375 1776153 324101 164121 122444 106006 16438 87938 87938 51290 51290 1518472 615507 862629 40336 196417 23867 171758 792 1426091 1287581 131991 6519 812940 812940 2204866 1726696 478170 2469217 1560352 575856 333009 135831 63048 34119 38664 1338837 1249950 88887 7312794 6840909 471885 633330 2828 630502 DINING 4473340 4473283 57 OTHER EXPENSES 1981631 1750679 138404 92548 TUITION EXPENSES 1770968 1770968 REPAIRS AND MAINTENANCE 1674027 1619500 45696 8831 403350 167644 228158 7548 108550768 92199246 13111266 3240256 1456542 21138 5830492 7822647 20682299 19450169 614109 684608 242518 197184 25235 319278 264581686 155292132 110679310 109289554 212198691 179671045 107906000 159927388 5360860 5232380 1332238 1447350 466328294 484062741 6643293 7142549 1038071 947111 42807773 43812783 2090707 2062416 9294252 8727191 61874096 62692050 X 101310467 97969986 76506491 91241391 226637240 232159314 404454198 421370691 466328294 484062741 X 60124140 -43641248 433601 X X 0 1 X 1 1 1 X X X X X 0 0 1 X 318204180 9286732 28250463 6850407 9059803 339831165 284692482 10524336 36006163 6296201 6722600 318204180 275447518 20553429 1228947 5819255 6718157 284692482 249472855 29564660 7266603 4795976 6060624 275447518 212431926 11020336 36163657 4183663 5959401 249472855 0.13370 0.64250 0.22380 1 0 3374876 3374876 181455027 92165566 89289461 70585460 59577126 11008334 9166323 3549440 5616883 109289554 ALTERNATIVE INVESTMENTS 159927388 F 159927388 POSTRETIREMENT OBLIGATIONS 3053736 ANNUITIES PAYABLE 2254880 ASSET RETIREMENT OBLIGATIONS 3569758 INTEREST RATE EXCHANGE LIABILITY -151183 8727191 X 88033135 -43641248 -37000525 -80641773 168674908 0 168674908 71116642 0 71116642 37434126 37434126 108550768 PART III, LINE 1A: THE UNIVERSITY DOES NOT ASSIGN OR RECORD A VALUE FOR ART AND OTHER COLLECTIONS RECEIVED AS GIFTS. ACCORDINGLY, THE VALUE OF CERTAIN ART AND OTHER COLLECTIONS HAS BEEN EXCLUDED FROM THE STATEMENTS OF FINANCIAL POSITION. PART III, LINE 4: THE LAWRENCE UNIVERSITY COLLECTIONS SUPPORT THE INSTRUCTION, RESEARCH, AND PUBLIC OUTREACH MISSIONS OF THE COLLEGE. PART IV, LINE 2B: LAWRENCE UNIVERSITY CLASSIFIES ON FORM 990, PART X, LINE 21 AMOUNTS HELD FOR PERKINS LOANS PAYABLE AND STUDENT GROUPS AGENCY ACCOUNTS. PART V, LINE 4: ENDOWMENT FUNDS ARE USED TO SUPPORT STUDENT SCHOLARSHIPS, FACULTY CHAIR POSITIONS AND OTHER ACADEMIC MISSION RELATED PURPOSES. PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE UNIVERSITY IS ALSO EXEMPT FROM STATE INCOME TAXES. ACCORDINGLY, THE UNIVERSITY IS NOT SUBJECT TO FEDERAL INCOME TAXES EXCEPT TO THE EXTENT IT DERIVES INCOME FROM CERTAIN ACTIVITIES NOT SUBSTANTIALLY RELATED TO ITS TAX EXEMPT PURPOSE (UNRELATED TRADE OR BUSINESS ACTIVITIES). THE UNIVERSITY 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 UNIVERSITY REGARDING UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2018 AND 2017. THE UNIVERSITY'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: TUITION DISCOUNTS -37,434,126. INTEREST RATE SWAP - MARK TO MARKET 853,711. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -444,507. CHANGE IN VALUE OF INTEREST IN TRUSTS 24,397. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION DISCOUNTS 37,434,126. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 GENERAL POLICY IS INCLUDED IN ALL SUBSTANTIVE PUBLICATIONS DISTRIBUTED. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES FEDERAL STUDENT AID FROM THE U.S. DEPARTMENT OF EDUCATION INCLUDING PELL GRANTS, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS, FEDERAL WORK-STUDY GRANTS, PERKINS LOANS, DIRECT STUDENT LOANS, ACADEMIC COMPETITIVENESS GRANT AND NATIONAL SCIENCE AND MATHEMATICS ACCESS TO RETAIN TALENT GRANTS. THE UNIVERSITY ALSO RECEIVES RESEARCH AND DEVELOPMENT GRANTS FROM THE NATIONAL INSTITUTE OF HEALTH, NATIONAL SCIENCE FOUNDATION, NATIONAL AERONAUTICS AND SPACE ADMINISTRATION, NATIONAL ENDOWMENT FOR THE HUMANITIES, AND THE DEPARTMENT OF EDUCATION. LONDON, ENGLAND 1 1 PROGRAM SERVICES OFF CAMPUS EDUCATIONAL EXPERIENCE 609946 CARRIBEAN 0 0 INVESTMENTS FOREIGN INVESTMENTS DOMICILED IN THE CAYMAN ISLANDS 82693054 EUROPE 0 0 INVESTMENTS FOREIGN INVESTMENTS DOMICILED IN SCOTLAND 2546676 EUROPE 0 0 INVESTMENTS FOREIGN INVESTMENTS DOMICILED IN IRELAND 10064917 1 1 0 0 1 1 95914593 0 95914593 1 0 0 0 1 0 X X X X X X X 1 CAMPBELL AND COMPANY ONE EAST WACKER DRIVE SUITE 2100 CHICAGO IL 60601 CAMPAIGN COUNSEL 0 0 51290 0 51290 WI GOLF OUTING 25855 7750 18105 4021 6405 25855 7750 18105 4021 6405 10426 7679 17450 1012 368 507 0 17450 1012 368 507 1887 15563 WI 1 0 1 0 1.00000 0 0 1 PROJECT BRIDGES DAY CARE CENTER AND PRESCHOOL INC 313 SOUTH STATE STREET APPLETON WI 54911 391340963 SECTION 501(C)(3) 12000 OPERATIONAL SUPPORT 1 0 SCHOLARSHIPS TO STUDENTS 1424 37434126 PART I, LINE 2: SCHOLARSHIP AMOUNTS ARE APPLIED DIRECTLY TO STUDENT ACCOUNTS AFTER A THOROUGH REVIEW OF ELIGIBILITY AND SELECTION CRITERIA. THE UNIVERSITY HAS AN EXPERIENCED FINANCIAL AID DEPARTMENT THAT MONITORS THE USE OF GRANT FUNDS. X X 1 1 X X X X X X 0 1 0 0 0 0 0 0 0 MARK BURSTEIN PRESIDENT 376659 0 0 0 0 0 55184 0 19824 0 451667 0 0 0 CHRISTOPHER LEE TREASURER VP FOR FINANCE & ADMINISTRATION 189997 0 0 0 0 0 10552 0 15213 0 215762 0 0 0 KEN ANSELMENT DEAN OF ADMISSIONS & FA 153763 0 0 0 0 0 9200 0 26272 0 189235 0 0 0 CALVIN HUSMANN VP FOR DEVELOPMENT & ALUMNI 184058 0 0 0 14880 0 10463 0 26178 0 235579 0 0 0 KIMBERLY BARRETT VP DIV INCLUSION & ASSOC DEAN FACULTY 146190 0 0 0 0 0 2369 0 15630 0 164189 0 0 0 DAVID BURROWS DEAN OF FACULTY 181491 0 0 0 0 0 10291 0 21824 0 213606 0 0 0 NANCY TRUESDELL DEAN OF STUDENTS 127286 0 0 0 0 0 7669 0 19671 0 154626 0 0 0 BRIAN PERTL DEAN OF CONSERVATORY 154568 0 0 0 20000 0 9296 0 26178 0 210042 0 0 0 PART I, LINE 4B LAWRENCE UNIVERSITY HAS ESTABLISHED A 457(F) PLAN FOR THE PRESIDENT. THE PRESIDENT IS FULLY VESTED IN THE 457(F) PLAN AT 6/30/18. THE 2017 EMPLOYER CONTRIBUTION TO THE 457(F) PLAN WAS $30,000. A WISCONSIN HEALTH & EDUCATIONAL FACILITIES AUTHORITY 391337855 97710B3G5 2012-08-29 11065000 CURRENT REFUND BONDS ISSUED 09/09/98 0 0 0 B WISCONSIN HEALTH & EDUCATIONAL FACILITIES AUTHORITY 391337855 NONEAVAIL 2014-11-03 35505000 CURRENT REFUND BONDS ISSUED 02/26/09; COLEMAN HALL RENOVATION; BANTA BOWL 0 0 0 A 4645000 11065000 220000 10845000 1 0 1 1 B 35505000 150000 10000000 25355000 1 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 1 1 JPMORGAN CHASE BANK NA 10.000000000000 0 0 0 0 1 A 1 B 1 EMPLOYEEOFFICER CHILD 41221 TUITION REMISSION EDUCATION RENEE BOLDT TRUSTEE 735626 OSCAR C. BOLDT IS RENEE GORAL BOLDT'S FATHER-IN-LAW. OSCAR IS A LONG-TIME SUPPORTER OF LAWRENCE UNIVERSITY AND RENEE IS AN ALUMNI AND ACTIVE TRUSTEE MEMBER. LAWRENCE PERIODICALLY CONTRACTS WITH THE BOLDT COMPANY FOR CONSTRUCTION PROJECTS. 0 X 18 X 46 787660 FAIR MARKET VALUE 0 0 1 1 PART I, LINE 32B: THE UNIVERSITY WILL RETAIN AN ATTORNEY FROM NON-CASH REAL ESTATE GIFTS AND A BROKER FOR PUBLICLY TRADED SECURITIES AS NEEDED. PART I, LINE 33: COLLECTIONS FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE HAS AUTHORITY TO ACT FOR THE BOARD OF TRUSTEES ON ALL MATTERS EXCEPT FOR THE FOLLOWING: SELECTION AND TERMINATION OF THE THE PRESIDENT, ELECTION OF TERM TRUSTEES, RECENT GRADUATE TRUSTEES, EMERITI, NON-TRUSTEE BOARD COMMITTEE MEMBERS, AND BOARD OFFICERS, CHANGES IN THE UNIVERSITY'S INSTITUTIONAL MISSION AND PURPOSES, CHANGES TO THE ARTICLES OF CONSOLIDATION AND ADOPTION OF THE ANNUAL BUDGET. THE EXECUTIVE COMMITTEE SHALL BE COMPOSED OF THE CHAIR OF THE BOARD, THE VICE CHAIR OF THE BOARD, THE IMMEDIATE PAST CHAIR OF THE BOARD, THE PRESIDENT OF THE UNIVERSITY, THE SECRETARY OF THE BOARD, THE CHAIRS OF THE ACADEMIC AND STUDENT AFFAIRS, FINANCE, RECRUITMENT AND RETENTION AND DEVELOPMENT COMMITTEES, IF SUCH BOARD COMMITTEES THEN EXIST, AND UP TO THREE ADDITIONAL TERM TRUSTEES APPOINTED ANNUALLY BY THE CHAIR OF THE BOARD AFTER CONSULTATION WITH THE TRUSTEE GOVERNANCE COMMITTEE AND THE PRESIDENT. THE COMMITTEE SHALL BE NO MORE THAN 12 PERSONS. FORM 990, PART VI, SECTION A, LINE 4 THE RIGHTS AND RESPONSIBILITIES OF THE RECENT GRADUATE TRUSTEES SHALL BE THE SAME AS THOSE OF THE TERM TRUSTEES, EXCEPT THAT A RECENT GRADUATE TRUSTEE MAY NOT SERVE AS A BOARD OFFICER. ALL COMMITTEE CHAIRS AND VICE CHAIRS MUST BE TRUSTEES. THE EXECUTIVE COMMITTEE SHALL BE COMPOSED OF THE CHAIR OF THE BOARD, WHO SHALL BE CHAIR OF THE COMMITTEE AND OF THE COMPENSATION SUBCOMMITTEE, THE VICE CHAIR OF THE BOARD, THE IMMEDIATE PAST CHAIR OF THE BOARD, THE PRESIDENT OF THE UNIVERSITY, THE SECRETARY OF THE BOARD, THE CHAIRS OF THE ACADEMIC AND STUDENT AFFAIRS, FINANCE, ENROLLMENT AND DEVELOPMENT COMMITTEES, IF SUCH BOARD COMMITTEES EXIST, AND UP TO THREE ADDITIONAL TRUSTEES. THE TRUSTEE GOVERNANCE COMMITTEE SHALL BE COMPOSED OF THE CHAIR OF THE BOARD, THE VICE CHAIR OF THE BOARD, THE IMMEDIATE PAST CHAIR OF THE BOARD, IF THEN SERVING AS A TERM TRUSTEE, THE PRESIDENT OF THE UNIVERSITY, THE SECRETARY OF THE BOARD AND AS MANY ADDITIONAL TRUSTEES AS ARE APPOINTED BY THE CHAIR OF THE BOARD. ALL COMMITTEE CHAIRS AND VICE CHAIRS MUST BE TERM TRUSTEES, AND A MAJORITY OF THE MEMBERS OF ALL COMMITTEES EXCEPT THE INVESTMENT COMMITTEE SHALL BE TRUSTEES. THE EXECUTIVE COMMITTEE SHALL: 1. HAVE THE AUTHORITY TO ACT FOR THE BOARD OF TRUSTEES ON ALL MATTERS EXCEPT FOR THE FOLLOWING, WHICH SHALL BE RESERVED FOR THE BOARD: SELECTION AND TERMINATION OF THE PRESIDENT; ELECTION OF TERM TRUSTEES, RECENT GRADUATE TRUSTEES, EMERITI, NON-TRUSTEE BOARD COMMITTEE MEMBERS, AND BOARD OFFICERS; CHANGES IN THE UNIVERSITY'S INSTITUTIONAL MISSION AND PURPOSES; CHANGE TO THE ARTICLES OF CONSOLIDATION; ADOPTION OF THE ANNUAL BUDGET. TERM LIMITS FOR TRUSTEES WAS COMPLETED. ALL MEMBERS OF A COMMITTEE, INCLUDING NON-TRUSTEE MEMBERS AND EMERITI TRUSTEES SERVING AT THE REQUEST OF THE CHAIR SHALL BE VOTING MEMBERS AND SHALL SERVE FOR A TERM OF ONE YEAR (A TERM OF TWO YEARS IN THE CASE OF NON-TRUSTEE MEMBERS) BEGINNING THE FIRST DAY OF JULY FOLLOWING THEIR APPOINTMENT OR ELECTION EXCEPT WHERE OTHERWISE STATED IN THESE BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WILL BE POSTED ONTO THE BOARD TRUSTEE WEBSITE PRIOR TO FILING, WHICH IS CONSISTENT WITH HOW ALL MATERIALS FOR BOARD MEETINGS ARE COMMUNICATED TO BOARD MEMBERS. TO RESPECT THE WISHES OF CERTAIN DONORS TO REMAIN ANONYMOUS, WE HAVE CHOSEN NOT TO PROVIDE A FULL DISCLOSURE COPY OF THE 990 TO THE FULL GOVERNING BOARD OF LAWRENCE UNIVERSITY. A FULL DISCLOSURE COPY, WITH ALL DONOR INFORMATION, WILL BE FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ACCORDING TO THE WRITTEN CONFLICT OF INTEREST POLICY, THE SECRETARY OF THE BOARD OF TRUSTEES SHALL REQUEST EACH PRESENT MEMBER OF THE BOARD OF TRUSTEES AND OFFICERS, AND EACH FUTURE MEMBER OF THE BOARD OF TRUSTEES AND OFFICER PRIOR TO FORMAL ELECTION TO COMPLETE AN APPROPRIATE STATEMENT, SIMILAR TO THE ONE APPENDED, AND TO RENEW THE STATEMENT AT LEAST ONCE EVERY YEAR WHILE SERVING IN ANY OF THESE CAPABILITIES. A CONFIDENTIAL FILE SHALL BE MAINTAINED OF SUCH STATEMENTS. FORM 990, PART VI, SECTION B, LINE 15 A COMPENSATION SUBCOMITTEE OF THE EXECUTIVE COMMITTEE REVIEWS AND APPROVES THE PRESIDENT'S CABINET OFFICERS AND ANY OTHER DISQUALIFIED PERSON'S COMPENSATION, WHICH IS THEN REPORTED TO THE BOARD. THE COMPENSATION SUBCOMMITTEE ALSO MONITORS COMPENSATION PHILOSOPHIES FOR THE UNIVERSITY AND STAFF. COMPENSATION SURVEY INFORMATION IS USED FROM COMPARABLE INSTITUTIONS. AN INDEPENDENT CONSULTANT IS USED EVERY FEW YEARS AS WELL. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE ON ITS WEBSITE. THE CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -444,507. CHANGE IN THE VALUE OF INTEREST IN TRUSTS 24,397. INTEREST RATE SWAP - MARK TO MARKET 853,711. FORM 990, PART XII, LINE 2C NO CHANGES HAVE BEEN MADE FROM THE PRIOR YEAR.