2018-05-14T13:21:17-05:00 2017-06-30 450250958 EIDE BAILLY LLP 200 EAST 10TH ST PO BOX 5125 SIOUX FALLS SD 571175125 990 2016-07-01 460224600 UNIVERSITY OF SIOUX FALLS UNIV 6053316592 1101 WEST 22ND STREET SIOUX FALLS SD 571051600 BRETT BRADFIELD PRESIDENT 6053316592 2018-05-14 1 LAURIE HANSON P00851848 6053391999 2018-05-14 198.135.124.203 2018-05-14 10:16:44 CD P 974248CA41D94A414E643A61057C2CD568A63DD6 92FA066E8274E2B577DB6CECDEFB9BF5F3A81194 2016 2021-01-29 14:40:06Z BRETT BRADFIELD 1101 WEST 22ND STREET SIOUX FALLS SD 571051600 48053247 0 X WWW.USIOUXFALLS.EDU X 1883 SD AS A CHRISTIAN UNIVERSITY, USF EDUCATES STUDENTS IN THE HUMANITIES, SCIENCES, AND PROFESSIONS. 49 49 798 20 43980 -82965 3710805 9230334 32525534 34370564 3167554 2674851 138266 150134 39542159 46425883 13638575 14735790 0 0 13525561 13683607 49212 46487 807555 12538217 12681185 39751565 41147069 -209406 5278814 75558764 87053382 21352247 27664210 54206517 59389172 X THE UNIVERSITY OF SIOUX FALLS, A CHRISTIAN UNIVERSITY IN THE LIBERAL ARTS TRADITION, EDUCATES STUDENTS IN THE HUMANITIES, SCIENCES AND PROFESSIONS. THE TRADITIONAL MOTTO OF THE UNIVERSITY IS CULTURE FOR SERVICE, THAT IS, WE SEEK TO FOSTER ACADEMIC EXCELLENCE AND THE DEVELOPMENT OF MATURE CHRISTIAN PERSONS FOR SERVICE TO GOD AND HUMANKIND IN THE WORLD. THROUGH PROGRAMS IN THE HUMANITIES, SCIENCES AND PROFESSIONS, THE UNIVERSITY HELPS PERSONS GROW INTELLECTUALLY, DISCERN TRUTH AND DEVELOP A CHRISTIAN WORLDVIEW. AS A CHRISTIAN INSTITUTION, THE UNIVERSITY OF SIOUX FALLS FOSTERS IN ALL MEMBERS OF ITS COMMUNITY THE DEVELOPMENT OF EMOTIONAL MATURITY, PHYSICAL WELL-BEING, INTERPERSONAL SKILLS AND VALUES WHICH REFLECT THE CHARACTER AND TEACHINGS OF CHRIST. THE UNIVERSITY OF SIOUX FALLS IS COMMITTED TO THE LORDSHIP OF JESUS CHRIST AND TO THE INTEGRATION OF BIBLICAL FAITH AND LEARNING; IT AFFIRMS THAT CHRISTIANS ARE CALLED TO SHARE THEIR FAITH WITH OTHERS THROUGH LIVES OF SERVICE. 0 0 36171276 14735790 34326584 PRIVATE LIBERAL ARTS HIGHER EDUCATION--PROVIDING EDUCATION TO 1,530 STUDENTS WORKING TOWARD ASSOCIATES, BACHELORS, AND MASTERS DEGREES. 36171276 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 1 0 0 0 1 71 1 1 798 1 1 1 0 0 0 0 1 1 0 0 0 0 X 49 49 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 SC X X SUSAN THIE 6053316592 1101 W 22ND ST SIOUX FALLS SD 571051600 TOM LILLIBRIDGE CO-CHAIRPERSON 5.00 X X 0 0 0 JOHN LILLIBRIDGE CO-CHAIRPERSON 5.00 X X 0 0 0 DR JOHN COLLIER VICE CHAIR OF THE BOARD 5.00 X X 0 0 0 KIMBERLY THUNE SECRETARY 5.00 X X 0 0 0 RICHARD GARSIDE TRUSTEE 5.00 X 0 0 0 TIM BAILEY TRUSTEE 5.00 X 0 0 0 WILLIAM BALLENGER TRUSTEE 5.00 X 0 0 0 PAT BARBER TRUSTEE 5.00 X 0 0 0 CAPTAIN RICHARD BARCUS TRUSTEE 5.00 X 0 0 0 DR FRED BELLUM TRUSTEE 5.00 X 0 0 0 JUDY BLAUWET TRUSTEE 5.00 X 0 0 0 LOIS BOICE TRUSTEE 5.00 X 0 0 0 TOM BOSCH TRUSTEE 5.00 X 0 0 0 DR CURT BUCHHOLZ TRUSTEE 5.00 X 0 0 0 DANITA BYE TRUSTEE 5.00 X 0 0 0 WARREN CAMP TRUSTEE 5.00 X 0 0 0 DR JC CHAMBERS TRUSTEE 5.00 X 0 0 0 DAVE CLEVELAND TRUSTEE 5.00 X 0 0 0 JAY EIDSNESS TRUSTEE 5.00 X 0 0 0 DR CAROL EVANS TRUSTEE 5.00 X 0 0 0 REV WARREN HOFFMAN TRUSTEE 5.00 X 0 0 0 MARY HULL TRUSTEE 5.00 X 0 0 0 DAN HYLLAND TRUSTEE 5.00 X 0 0 0 AL JOHNSON TRUSTEE 5.00 X 0 0 0 DOROTHY JOHNSON CASELLI TRUSTEE 5.00 X 0 0 0 MERLE JOHNSON TRUSTEE 5.00 X 0 0 0 SUSAN KUHN TRUSTEE 5.00 X 0 0 0 ROBERT R LARSEN MD TRUSTEE 5.00 X 0 0 0 BARBARA MCMURCHIE TRUSTEE 5.00 5.00 X 0 0 0 MAX MERRY TRUSTEE 5.00 X 0 0 0 SUSAN NORBERG TRUSTEE 5.00 X 0 0 0 DR PAULA O'NEILL-WEEDON TRUSTEE 5.00 X 0 0 0 DR GARY OLSON TRUSTEE 5.00 X 0 0 0 REV RANDY RASMUSSEN TRUSTEE 5.00 X 0 0 0 SCOTT RYSDON TRUSTEE 5.00 X 0 0 0 JEFF SAVAGE TRUSTEE 5.00 5.00 X 0 0 0 DR GORDON A STEWART TRUSTEE UNTIL 08/2016 5.00 5.00 X 0 0 0 DR MARIAN D SULLIVAN TRUSTEE 5.00 X 0 0 0 DR ROBERT L VENINGA TRUSTEE 5.00 X 0 0 0 MICHAEL WOODDEN TRUSTEE 5.00 X 0 0 0 STEVE YOUNG TRUSTEE 5.00 X 0 0 0 PAUL BARBER TRUSTEE 5.00 X 0 0 0 GARY BAUMGARTENER TRUSTEE 5.00 X 0 0 0 LEON BILL TRUSTEE 5.00 X 0 0 0 GREG DYER TRUSTEE 5.00 X 64690 0 17025 LUKE DEBOER TRUSTEE 5.00 X 558 0 0 WILLIAM EDWARDS TRUSTEE 5.00 X 0 0 0 PAUL EIDNESS TRUSTEE 5.00 X 0 0 0 DAVE FLECK TRUSTEE 5.00 X 0 0 0 BETH HABICHT TRUSTEE 5.00 X 0 0 0 MARK BENEDETTO PRESIDENT UNTIL 02/2017 50.00 X 272468 0 58700 BRETT BRADFIELD PRESIDENT FROM 02/2017 50.00 X 156713 0 24419 MARSHA DENNISTON VP OF BUSINESS AND FINANCE 50.00 X 99025 0 21851 JED STUGART COACH 40.00 X 110655 0 14054 JESSICA CHERENEGAR DIR - SCHOOL OF NURSE 40.00 X 118912 0 24753 JOSHUA SNYDER ATHLETIC DIRECTOR 40.00 X 104636 0 19796 MICHAEL THOMPSON ASSO.PROFESSOR,CRIMINAL JU 40.00 X 108770 0 19802 DEBORA HERB-SEPICH DEAN OF SCHOOL OF BUSINESS 40.00 X 117893 0 12339 1154320 0 212739 8 0 1 0 JOURNEY GROUP COMPANIES 4500 W 58TH ST SIOUX FALLS SD 57108 CONSTRUCTION 3186822 ARAMARK CAMPUS SERVICES 1101 W 22ND ST SIOUX FALLS SD 57105 FOOD SERVICES AND PHYSICAL PLANT MANAGEM 2294824 KOCH HAZARD ARCHITECTS 431 N PHILLIPS AVE SIOUX FALLS SD 57104 ARCHITECTURAL 626020 ROYALL & COMPANY 1920 E PARHAM RD RICHMOND VA 23228 DIRECT MAILING SERVICES 331350 JENZABAR PO BOX 55018 BOSTON MA 02205 SOFTWARE PROVIDER FOR ERP SYSTEM 215161 10 16227 476438 8737669 1800229 9230334 TUITION AND FEES 611600 29986653 29986653 STUDENT HOUSING 611600 2046223 2046223 FOOD SERVICE 611600 1497122 1497122 OTHER INCOME 541800 840566 796586 43980 34370564 279254 279254 63326 0 63326 63326 63326 2024427 1762444 653739 737535 1370688 1024909 2395597 2395597 23771 16227 13993 9778 9778 25101 14167 10934 10934 274026 207930 66096 66096 46425883 34326584 43980 2824985 14735790 14735790 686949 686949 10558097 9038980 1103178 415939 280345 223270 48502 8573 1367317 851346 457856 58115 790899 662120 99686 29093 51061 43759 7302 62500 62500 46487 46487 131393 119437 11956 881723 651205 182061 48457 222105 45613 176492 2634541 2355316 216318 62907 376959 376959 1698815 1537189 145463 16163 863469 795645 52254 15570 46636 31670 11925 3041 834928 788515 41796 4617 2430056 2294969 121649 13438 221640 116930 104710 INSTRUCTIONAL SUPPORT 717118 717118 REPAIRS/MAINTENANCE 449901 446344 3557 ACADEMIC SUPPORT 380555 367280 13275 SPECIAL EVENTS FUNDRASI 80385 12181 68204 597400 380358 207393 9649 41147069 36171276 4168238 807555 508185 733461 164942 55574 3985292 3535217 595626 639318 2371196 116093 114680 530263 245569 88508629 34419564 47203353 54089065 17108439 18279032 1951149 3357444 1460702 1558279 1934720 2074547 75558764 87053382 1902706 3308695 1460257 1461250 1787668 1564984 13980000 13019600 2100000 500000 4900000 1721616 1309681 21352247 27664210 X 32494895 33105035 9267142 12691393 12444480 13592744 54206517 59389172 75558764 87053382 X 5278814 314536 -955130 544435 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 23830363 2011462 2367475 626972 328619 27253709 17410020 7546145 -397762 505648 222392 23830363 17547239 194736 229658 383081 178532 17410020 15548826 141950 2368773 336326 175984 17547239 14619237 128796 1454634 294442 359399 15548826 0.17470 0.47120 0.35410 1 1 1 9346773 9346773 54068731 21145638 32923093 15333897 13273926 2059971 9759228 9759228 54089065 INTEREST RATE SWAP 824125 DEPOSITS HELD FOR OTHERS 78140 ANNUITY PAYABLE 232100 ASSET RETIREMENT OBLIGATION 175316 1309681 X 32549064 314536 -14191355 -13876819 46425883 0 46425883 26411279 0 26411279 14735790 14735790 41147069 PART V, LINE 4: TO ADVANCE AND SUPPORT EDUCATION BY PROVIDING ASSISTANCE TO, AND BENEFITS FOR, THE UNIVERSITY OF SIOUX FALLS AND ITS STUDENTS, FACULTY AND PROGRAMS. PART X, LINE 2: THE UNIVERSITY IS A PUBLICALLY SUPPORTED ORGANIZATION AND HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3). THE UNIVERSITY IS REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. IN ADDITION, THE UNIVERSITY IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO ITS EXEMPT PURPOSES. THE UNIVERSITY FILES AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T) WITH THE IRS TO REPORT ITS UNRELATED BUSINESS TAXABLE INCOME. THE UNIVERSITY BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE UNIVERSITY WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSES -14,735,790. CHANGE IN VALUE OF INTEREST RATE SWAPS 355,583. CHANGE IN CSV LIFE INSURANCE 51,318. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 137,534. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSES 14,735,790. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 UNIVERSITY BROCHURES, CATALOGS, ADVERTISING, WEBSITE ETC. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY PARTICIPATES IN THE FEDERAL GOVERNMENT STUDENT FINANCIAL AID PROGRAMS AND RECEIVES OTHER VARIOUS FEDERAL GRANTS. PARTICIPATION IN THE STUDENT FINANCIAL AID PROGRAMS IS AS FOLLOWS: PERKINS LOANS, COLLEGE WORK-STUDY, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS, PELL GRANTS, AND STAFFORD LOANS. X X X X X X 1 ROYALL & COMPANY PO BOX 603519 CHARLOTTE NC 282603519 CONSULTS ON AND MANAGES ALL ASPECTS OF ANNUAL GIVING SOLICIT 0 6966 40530 -33564 CRESCENDO INTERACTIVE 7251 OHMS LN MINNEAPOLIS MN 55439 MANAGED AND CREATED PLANNED GIVING NEWSLETTERS AND EMAILS WH 0 0 5500 0 6966 46030 -33564 SC OR SID SHOOTOUT 20594 10088 10506 7500 255 2519 FALL CONCERT 12454 2819 9635 500 1 6950 3320 3630 3171 48 39998 16227 23771 11171 303 2519 13993 9778 25101 2500 11091 576 1 0.99000 25101 2500 11091 576 14167 10934 SD 0 THE STATE OF SOUTH DAKOTA DOES NOT REQUIRE LICENSING FOR RAFFLES. 0 1 0 1.00000 0 DANIEL VANDER WOUDE 0 ASSISTANT ATHLETIC DIRECTOR, INTERNAL OPERATIONS, TICKETING X 0 1 UNFUNDED INSTITUTIONAL AID 1052 13750506 CASH INSTITUTIONAL AID 151 181272 ENDOWED SCHOLARSHIPS 445 626974 FEDERAL SCHOLARSHIPS 421 177038 PART I, LINE 2: FOR FEDERAL AND PASS-THROUGH GRANTS FOR PROGRAMS, EACH GRANT HAS A GRANT MANAGER. ON A MONTHLY BASIS, THE BUSINESS OFFICE STAFF RECONCILES EXPENSES INCURRED FOR EACH GRANT AND VERIFIES WITH THE RESPECTIVE GRANT MANAGER. ONCE CONFIRMED, THE BUSINESS OFFICE STAFF REQUESTS REIMBURSEMENT FROM THE RESPECTIVE AWARDING AGENCY. FOR SCHOLARSHIPS, FINANCIAL AID OFFICE STAFF REVIEWS THE SPECIFIC CRITERIA FOR AWARDING TO STUDENTS. THE BUSINESS OFFICE STAFF DOES A RECONCILIATION OF EXPENSES (FINANCIAL AID AWARDED) BEFORE DRAWING DOWN ACTUAL DOLLARS FROM THE ENDOWMENT AND FEDERAL FINANCIAL AID. FOR PROGRAM ENDOWMENTS, THERE ARE TWO DIFFERENT METHODS USED. SOME PROGRAMS HAVE "BUDGET MANAGERS" WHO ARE AWARE OF THE FUNDS AVAILABLE VIA THE BUSINESS OFFICE STAFF AND SPEND ACCORDINGLY. FOR THOSE PROGRAMS WITHOUT "BUDGET MANAGERS AND FOR UNRESTRICTED ENDOWMENTS, THE BUSINESS OFFICE STAFF ENSURES THAT THERE ARE EXPENSES INCURRED IN THOSE SPECIFIC DEPARTMENTS BEFORE DRAWING DOWN ACTUAL DOLLARS. IN ALL CASES FOR THE ENDOWMENTS, THE BUSINESS OFFICE STAFF DOES A RECONCILIATION TO ENSURE THAT THE PROPER DOLLAR AMOUNT IS CALCULATED, AWARDED/EXPENSED, AND DRAWN DOWN. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 MARK BENEDETTO PRESIDENT UNTIL 02/2017 266068 0 4775 0 1625 0 10430 0 50625 0 333523 0 0 0 BRETT BRADFIELD PRESIDENT FROM 02/2017 156713 0 0 0 0 0 6644 0 19129 0 182486 0 0 0 PART I, LINE 1A THE FORMER PRESIDENT IS A MEMBER OF THE CLERGY AND THE HOUSING ALLOWANCE IS TREATED ACCORDING TO THE HOUSING ALLOWANCE RULES FOR CLERGY. PART I, LINE 1B THE FORMER PRESIDENT IS A MEMBER OF THE CLERGY AND THE HOUSING ALLOWANCE IS TREATED ACCORDING TO THE HOUSING ALLOWANCE RULES FOR CLERGY. THE ALLOWANCE IS NOT PART OF HIS CONTRACT BUT A PORTION OF HIS BASE PAY THAT IS CLASSIFIED SEPARATELY SINCE HE IS A MEMBER OF THE CLERGY. A SOUTH DAKOTA HEALTH AND EDUCATIONAL FACILITIES AUTHORITY 460315509 2010-05-28 18000000 TO REFUND BONDS ISSUED 12/6/2001,1/23/2005 AND 12/23/2008; CONSTRUCTION 0 0 0 A 4790000 18000000 289708 1835384 15874908 2010 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 1 0 1 0 0 0 0 A 0 SCHEDULE K PART II LINE 11 THE AMOUNT REPORTED ON PART I, LINE 11 IS THE AMOUNT OF BOND PROCEEDS USED TO REFUND THE PRIOR BONDS ISSUED IN 2001, 2005 AND 2008. DARLENE J EIDSNESS TRUST SPOUSE OF TRUSTEE CONSTRUCTION X 400000 400000 0 1 1 PAUL EIDSNESS TRUSTEE CONSTRUCTION X 100000 100000 0 1 1 WALTER BAILEY FATHER OF TRUSTEE CONSTRUCTION X 400000 400000 0 1 1 JOHN COLLIER TRUSTEE CONSTRUCTION X 1000000 1000000 0 1 1 BETH HABICHT TRUSTEE CONSTRUCTION X 100000 100000 0 1 1 MARK BENEDETTO PRESIDENT CONSTRUCTION X 100000 100000 0 1 1 2100000 NA N/A 55075 DISCOUNTED TUITION UNDERGRADUATE STUDIES X 108 1712250 FMV AT DATE OF GIFT X 1 10000 FMV AT DATE OF GIFT X MISCELLENEOUS ITEMS 77 77979 MARKET VALUE 1 0 1 0 FORM 990, PART VI, SECTION A, LINE 1 THE NUMBER OF MEMBERS OF THE EXECUTIVE COMMITTEE SHALL BE NO FEWER THAN NINE. THE EXECUTIVE COMMITTEE SHALL, WHEN THE BOARD IS NOT IN SESSION, HAVE FULL AUTHORITY TO TRANSACT ANY AND ALL BUSINESS OF THE BOARD, IN ACCORDANCE WITH ITS GENERAL POLICIES AS SET OUT IN THE BYLAWS AND AS MAY BE OTHERWISE DECLARED BY THE BOARD. THE EXECUTIVE COMMITTEE SHALL MEET QUARTERLY AT SUCH TIME AND PLACE AS DESIGNATED. FIVE MEMBERS SHALL CONSTITUTE A QUORUM. FORM 990, PART VI, SECTION A, LINE 2 JOHN LILLIBRIDGE AND TOM LILLIBRIDGE, BOTH TRUSTEES, HAVE A FAMILY RELATIONSHIP AND A BUSINESS RELATIONSHIP. PAUL BARBER AND PAT BARBER HAVE A FAMILY RELATIONSHIP. PAUL EIDSNESS AND JAY EIDSNESS HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT (INCLUDING 2 CPA'S ON STAFF) REVIEWS FORM 990 BEFORE IT IS FILED. A COPY OF THE 990 IS PROVIDED TO THE GOVERNING BODY THROUGH THE UNIVERSITY'S WEBSITE PRIOR TO THE RETURN BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY COVERS THE BOARD OF TRUSTEES AND THE PRESIDENT OF THE UNIVERSITY. PROCEDURES FOR IDENTIFYING CONFLICT OF INTEREST: A COPY OF THE POLICY IS MADE AVAILABLE TO ALL BOARD OF TRUSTEES AND MEMBERS OF MANAGEMENT BY THE COMPLIANCE OFFICER. THE COMPLIANCE OFFICER WILL ENSURE THAT ALL FORMS ARE COMPLETED AND RETURNED AND PROVIDE A SUMMARY TO THE USF PRESIDENT. INFORMATION SHARED BEYOND THIS POINT WILL BE GOVERNED BY A BUSINESS, OR ETHICAL, NEED TO DISCLOSE AS DETERMINED BY THE APPROPRIATE BOARD CHAIR, USF PRESIDENT OR THE CORPORATE OFFICER. DETERMINING WHETHER A CONFLICT OF INTEREST EXISTS: AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, THE BOARD OR COMMITTEE ADDRESSING THE TRANSACTION AT ISSUE SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. PROCEDURES FOR ADDRESSING THE CONFLICT OF INTEREST: AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD OR COMMITTEE MEETING IF APPLICABLE. PRIOR TO THE PRESENTATION, FULL DISCLOSURE OF THE POTENTIAL CONFLICT OF INTEREST MUST BE MADE TO THE INDIVIDUALS HEARING THE PRESENTATION. AFTER SUCH PRESENTATION, HE/SHE IS NOT TO PARTICIPATE IN THE VOTE ON THE TRANSACTION OR ARRANGEMENT THAT RESULTS IN THE CONFLICT OF INTEREST. THE PRESIDENT AND/OR BOARD CHAIR, ALONG WITH THOSE INDIVIDUALS THEY DEEM TO BE APPROPRIATE TO THE DECISION, SHALL DETERMINE WHETHER THE TRANSACTION OR ARRANGEMENT IS IN USF'S BEST INTEREST AND FOR ITS OWN BENEFIT AND WHETHER THE TRANSACTION IS FAIR AND REASONABLE. THEY SHALL THEN MAKE THE DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT IN CONFORMITY WITH SUCH DETERMINATION. FORM 990, PART VI, SECTION B, LINE 15A THE PERSONNEL COMMITTEE OF THE BOARD OF TRUSTEES ACTS ON BEHALF OF THE FULL BOARD. THE COMMITTEE REVIEWS A CCCU COMPENSATION SURVEY TO ASSIST WITH DRAFTING A COMPENSATION PACKAGE. THE COMPENSATION PACKAGE IS THEN VOTED ON BY THE PERSONNEL COMMITTEE. THE PROCESS IS UNDERTAKEN ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE FOR INSPECTION UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAPS 355,583. CHANGE IN CSV LIFE INSURANCE 51,318. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 137,534. HAYWARD MEMORIAL TESTAMENTARY TRUST 100 S PHILLIPS AVE SIOUX FALLS SD 57104 466010897 SUPPORTING ORGANIZATION SD 501(C)(3) LINE 12A, I 0 CHARITABLE REMAINDER TRUST (1) INVESTMENT PA N/A T 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0