2017-11-15T13:37:51-06:00 2017-06-30 Grant Thornton LLP 100 E Wisconsin Ave Milwaukee WI 53202 990 2016-07-01 237447143 Center for Advanced Studies in Business Inc % ADAM BARNES CENT 6084417339 601 University Avenue Madison WI 53715 STEVE KING President 6084417339 2017-11-15 true Michelle L Weber P00556798 4142898200 38.84.128.189 39529020173195000001 2017-11-15 P AC08E55F6304B70EBC6FB54820696A8E131A0791 DBB5A1BB300CE7347E9A562499B28AD7099757F8 2016 2017-02-10 21:41:12Z STEVE KING 601 University Avenue Madison WI 53715 13092936 false X uwcped.org X 1974 WI To stimulate the continual process of professional education, to promote the exchange of ideas, and to advance the Wisconsin School of Business and other academic units. 11 9 28 0 898741 256067 112000 45000 10204035 13032953 21374 13320 0 0 10337409 13091273 31000 150000 0 0 1717906 2599968 0 0 0 8983535 10517775 10732441 13267743 -395032 -176470 16565916 16273952 13613626 13498132 2952290 2775820 X A. TO STIMULATE THE CONTINUAL PROCESS OF PROFESSIONAL EDUCATION IN BUSINESS AND ADMINISTRATION AT THE WISCONSIN SCHOOL OF BUSINESS AND OTHER ACADEMIC UNITS AT THE UNIVERSITY OF WISCONSIN-MADISON (UNIVERSITY) IN THE STUDENT, ALUMNUS AND THE PRACTITIONER PHASES. B. TO PROMOTE THE EXCHANGE OF IDEAS BETWEEN THE STUDENT BODY, ALUMNI AND FACULTY OF THE WISCONSIN SCHOOL OF BUSINESS, OTHER ACADEMIC UNITS AT THE UNIVERSITY AND INTERESTED EXECUTIVES AND ADMINISTRATORS. C. TO ADVANCE THE SCHOOL OF BUSINESS AND OTHER ACADEMIC UNITS AT THE UNIVERSITY BY DISSEMINATING INFORMATION CONCERNING STUDENT, ALUMNI, FACULTY AND ADMINISTRATIVE ACTIVITIES. false false 6920328 0 6250943 The Fluno Center, a full immersion executive education facility that is owned and operated by the Center for Advanced Studies in Business, Inc. (CASB), provided conference services, lodging and other related services to support its educational events. 4598267 0 6563035 Continuing education programs - full immersion educational programs (P.L.R. #98-24048). CASB custom program offerings extend to all functional areas and levels within an organization. CASB runs a portfolio of open-enrollment courses on various business related topics. CASB operates the Family Business Center, a membership based organization with professional education geared to closely held business. 262600 150000 112600 Wisconsin School of Business outreach, including alumni meetings and events - this activity allows opportunities for the gathering of alumni at various locations to distribute information on programs and activities of the Wisconsin School of Business. 175103 0 106375 FACILITY RENTAL 175103 0 106375 11956298 true true false false false false false false false false true false false false false true true false false false true false false false false false false true false true false false false false false false false true false false false false false false false false false true 64 0 true 28 true true true false false false false false false false false false X 11 9 true true true false false true false true true false false true true true true true true true true false X ADAM BARNES 6084417339 601 UNIVERSITY AVENUE Madison WI 53715 X Steve King President 40.0 0.0 X X 158197 0 22910 David Gay Director 1.0 0.0 X 0 0 0 Carla Gogin Director - As of 5/2017 1.0 0.0 X 0 0 0 Jim Johannes Director 1.0 0.0 X 13000 0 0 Karla Johnstone Director - Thru 11/2016 1.0 0.0 X 0 0 0 Lance Lange Director 1.0 0.0 X 0 0 0 Brian Mayhew Director - As of 11/2016 1.0 0.0 X 0 0 0 John Nelson Director 1.0 0.0 X 0 0 0 Francois Ortalo-Mange Director 1.0 0.0 X 0 0 0 Barry Perkel Director 1.0 0.0 X 0 0 0 Blaine Renfert Director 1.0 0.0 X 0 0 0 Alison Sparks-Johnson Director 1.0 0.0 X 0 0 0 Adam Barnes VP of Finance & Operations 40.0 0.0 X 130084 0 44187 Malcolm Jeffris SR Director of Bus Development 40.0 0.0 X 120927 0 30812 Martha Williams Director of Bus Development 40.0 0.0 X 101174 0 19372 Barry Roberts Program Director 40.0 0.0 X 103746 0 29526 627128 0 146807 5 false true false Aramark 601 University Avenue MADISON WI 53715 Facility Agency 286687 Scott Converse 1035 East Lakeside Drive EDGERTON WI 53534 Instruction 271031 ELHR Consulting 802 East Appletree Lane ARLINGTON HEIGHTS IL 60004 Instruction 133725 Watchworks Management Consulting 3120 55th Avenue KENOSHA WI 53144 Instruction 111800 4 45000 45000 EDUC. PROGRAM FEES 611600 6563035 6563035 CONFERENCE SERVICE 611600 6250943 5281147 898741 71055 LUNCHEONS, MTGS, EVENTS 611600 112600 112600 OFFICE SPACE RENTALS 611600 106375 106375 13032953 14983 14983 0 0 0 0 0 0 1663 -1663 -1663 -1663 0 0 0 0 0 0 0 0 0 0 13091273 12063157 898741 84375 150000 150000 0 0 0 414996 298541 116455 0 1677066 1282520 394546 73143 55204 17939 306350 238476 67874 128413 96310 32103 301883 301883 36473 36473 39106 39106 0 0 0 4513830 4495118 18712 450370 443052 7318 83113 63459 19654 228669 79285 149384 0 40897 40897 223830 169867 53963 0 48514 1865 46649 286099 257358 28741 0 1067372 961274 106098 166961 93667 73294 CONTRACT SVCS/FOOD & DRINK 1081718 1081718 PROGRAM/EVENT SERVICES 995482 995482 UTILITIES 388350 388350 UBI TAX 103300 103300 461808 358672 103136 13267743 11956298 1311445 0 5950 5950 4485957 4646658 0 0 1405518 1727281 0 0 0 0 0 0 26246 22806 518369 574997 23073539 13800571 10092600 9272968 0 0 0 0 0 0 0 0 31276 23292 16565916 16273952 1267243 1799774 0 0 1666214 1515448 0 0 0 0 0 0 10680169 10182910 0 0 0 0 13613626 13498132 X 2952290 2775820 0 0 0 0 2952290 2775820 16565916 16273952 -176470 X false true X true false X 0 10000 0 112000 45000 167000 7021332 9085933 9922036 9436517 12063157 47528975 76932 73925 64850 66360 71055 353122 0 0 7098264 9169858 9986886 9614877 12179212 48049097 0 0 0 0 0 0 3385359 3823361 4599101 4059415 3975442 19842678 3385359 3823361 4599101 4059415 3975442 19842678 28206419 27420 20808 20719 20042 14983 103972 0 27420 20808 20719 20042 14983 103972 23429 112482 185381 171025 256067 748384 0 7149113 9303148 10192986 9805944 12450262 48901453 0.57680 0.52470 0.00213 0.00312 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 17989635 10394011 7595624 690208 174015 516193 1651226 1297193 354033 2742470 1935352 807118 9272968 0 0 X 12179405 1663 1663 12177742 913531 913531 13091273 12355875 1663 1663 12354212 913531 913531 13267743 organization's financial statement footnote concerning fin 48 Schedule D, Part X, Line 2 The Center was formed as a non-profit organization without the issuance of stock. The Center has received a determination letter from the Internal Revenue Service dated May 21, 1975, stating that it is exempt from federal income tax under Section 501(c)(3) of the IRC. The Center also received an additional determination letter dated March 18, 1998, related to the operations of the Fluno Center. The Center conducts certain unrelated business activities that are subject to unrelated business income tax. For the years ended June 30, 2017 and 2016, the Center recorded approximately $103,000 and $67,000, respectively, of income tax expense in conference services expense in the accompanying statements of activities related to unrelated business activities. The Center recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority. The Center applied the uncertain tax position guidance to all tax positions for which the statute of limitations remained open and determined there were no material unrecognized tax benefits as of June 30, 2017 and 2016. The Center does not believe there is any uncertainty with respect to its tax positions which would result in a material change to financial statements. The Center recognizes any interest and penalties related to unrecognized tax benefits in general and administrative expenses. There were no material interest or penalties related to income taxes that have been accrued or recognized as of and for the years ended June 30, 2017 and 2016. The Center files income tax returns in the U.S. federal jurisdiction and in the state of Wisconsin. Tax years open to examination by tax authorities for the Center include fiscal years 2014 through 2017 under federal statute of limitations, and 2013 through 2017 under state statute of limitations. Revenue included in financial statements, not in return Schedule D, Part XI, Line 2D Loss on Sale of Assets $1,663 Revenue Included in Return, Not in Financial Statements Schedule D, Part XI, Line 4b The Center for Advanced Studies in Business utilizes the conference services capabilities of the Fluno Center for some of its own educational programming, alumni and board meetings and events, and for administrative purposes. This activity is reversed for financial statement purposes. Related revenue of $913,531 is included on Form 990, Part VIII. expenses included in financial statements, not in return Schedule D, Part XII, Line 2D Loss on Sale of Assets $1,663 Expenses Included in Return, Not in Financial Statements Schedule D, Part XII, Line 4b The Center for Advanced Studies in Business utilizes the conference services capabilities of the Fluno Center for some of its own educational programming, alumni and board meetings and events, and for administrative purposes. This activity is reversed for financial statement purposes. Related expenses of $913,531 are included on Form 990, Part IX. Europe (Including Iceland and Greenland) Program Services Professional education 12981 East Asia and the Pacific Program Services Professional education 66662 79643 79643 false false false false false false true Wisconsin School of Business 975 University Avenue Madison WI 53706 391805963 State of WI 150000 General Funding 1 Monitoring the use of grant funds inside U.S. Schedule I, Part I, Line 2 The Dean of the Wisconsin School of Business sits on the organizations Board. The Dean, as the chief executive of the Wisconsin School of Business, determines how the contribution will be directed, typically for operational support or to increase endowed funds held and managed by the University of Wisconsin Foundation. University of Wisconsin System Contribution Schedule I, Part II, Line 1 The contribution to the University of Wisconsin School of Business is a contribution to a qualified exempt organization. It is the mission of the organization, in part, to advance the Wisconsin School of Business and other academic units. This contribution is available to the Wisconsin School of Business to use at their discretion. X X X false false false true false false false false false Steve King President 158083 0 0 0 114 0 11130 0 11780 0 181107 0 0 0 Adam Barnes VP of Finance & Operations 130072 0 0 0 12 0 9471 0 34716 0 174271 0 0 0 Malcolm Jeffris SR Director of Bus Development 120839 0 0 0 88 0 8713 0 22099 0 151739 0 0 0 Compensation Contingent on Revenues of the Organization Schedule J, Part I, Line 5a Business Development staff can earn bonus incentive compensation largely based on a percentage of their base salary. Additionally, they can earn additional dollar figure bonuses based on personal and team programming sales goals. Blaine Renfert Director 210872 Sales to sub-zero of program false Business transactions involving interested persons Schedule L, Part IV, Line 1 CASB sells educational programming and talent development related services to Sub-Zero Group, Inc. ("Sub-zero"), for which Blaine Renfert, a director of the filing organization, is an officer, director and employee. Mr. Renfert is not a shareholder of and does not share in Sub-Zero's revenues. Mr. Renfert is not involved in the selection or execution of CASB services and the transactions were at fair value and conducted in the normal course of business. Family or Business Relationship Form 990, Part VI, Section A, Line 2 Francois Ortalo-Magne, the Dean of the Wisconsin School of Business, is on the board. Several board members have an employment relationship with the Wisconsin School of Business. Delegation of Control Over Management Duties Form 990, Part VI, Section A, Line 3 CASB has retained the services of a third party management company which manages day-to-day operations of the Fluno Center under the supervision of CASB. Significant Changes to Governing Documents Form 990, Part VI, Section A, Line 4 The bylaws were amended to remove the Director of Executive Education at the Wisconsin School of Business from the CASB Board and to allow for no more than six (rather than five) independent members selected by the CASB Board. Member or Stockholder Powers Form 990, Part Vi, Section A, Line 7a If the University of Wisconsin Foundation ("Foundation") guarantees CASB's debt, it has the option to select an additional number of persons such that the number of directors appointed by the Foundation shall constitute a majority of the Board. Process the organization uses to review Form 990 Form 990, Part VI, Section B, Line 11A CASB'S FORM 990 IS PREPARED BY AN INDEPENDENT CERTIFIED PUBLIC ACCOUNTING FIRM FROM INFORMATION PREPARED AND SUBMITTED BY CASB STAFF. A DRAFT OF THE FORM 990 WAS PROVIDED ELECTRONICALLY TO BOARD MEMBERS FOR REVIEW. THE AUDIT COMMITTEE PERFORMED A DETAILED REVIEW OF THE FORM 990. THE FORM 990 WAS FINALIZED TO INCORPORATE ANY NECESSARY CHANGES. AN UPDATED VERSION WAS PROVIDED ELECTRONICALLY TO ALL BOARD MEMBERS FOR ADDITIONAL MATTERS BROUGHT FORWARD BY THE BOARD. THE FINALIZED VERSION OF THE FORM 990 IS FILED WITH THE IRS ON OR BEFORE THE NOVEMBER 15TH FILING DEADLINE. Organization's Practices For Monitoring Conflicts Of Interest Form 990, Part VI, Section B, Line 12c THE ORGANIZATION'S CONFLICT OF INTEREST POLICY COVERS ALL OFFICERS, DIRECTORS, AND KEY EMPLOYEES OF THE ORGANIZATION. ANNUALLY, INDIVIDUALS COVERED UNDER THE POLICY SELF IDENTIFY POTENTIAL AND/OR ACTUAL CONFLICTS. MANAGEMENT REVIEWS RESPONSES TO ENSURE ALL CONFLICTS MANAGEMENT IS AWARE OF HAVE BEEN IDENTIFIED. ANNUALLY, THE BOARD REVIEWS COMPLETED RESPONSES AND DETERMINES IF ALL POTENTIAL AND/OR ACTUAL CONFLICTS ARE ACCEPTABLE. THESE DISCUSSIONS ARE DOCUMENTED IN THE MINUTES TO THE MEETING IN WHICH THEY OCCUR. AS OF JUNE 30, 2017, NO CONFLICTS WERE NOTED WHICH LIMIT ANY OFFICER, DIRECTOR, OR KEY EMPLOYEE FROM PARTICIPATING IN THE GOVERNING BODY'S DELIBERATIONS AND DECISIONS. SHOULD ANY POTENTIAL OR ACTUAL CONFLICT ARISE BETWEEN ANNUAL SURVEYS, IT IS THE RESPONSIBILITY OF THE CONFLICTED INDIVIDUAL, AND MANAGEMENT IF THEY ARE AWARE OF THE CONFLICT, TO BRING THE NEW CONFLICT TO THE ATTENTION OF THE BOARD TO REVIEW. Process of Determining Compensation of top Management & Other officers Form 990, Part VI, Section B, Lines 15A and 15B THE COMPENSATION COMMITTEE, CHAIRED BY AN INDEPENDENT DIRECTOR, REVIEWS THE COMPENSATION OF TOP MANAGEMENT AND OTHER OFFICERS. THIS REVIEW INCLUDES LOOKING AT COMPARABILITY DATA. THE COMMITTEE CONTEMPORANEOUSLY DOCUMENTS ITS DISCUSSIONS AND FINAL RECOMMENDATION. COMPENSATION DECISIONS ARE APPROVED BY THE FULL BOARD AND ARE ALSO CONTEMPORANEOUSLY DOCUMENTED. Documents Available to Public Form 990, Part VI, Section C, Line 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990 PART IX LINE 11G DESCRIPTION:CONFERENCE CENTER OPERATOR TOTAL FEES:2724392 FORM 990 PART IX LINE 11G DESCRIPTION:INSTRUCTOR TEACHING FEES TOTAL FEES:1660134 FORM 990 PART IX LINE 11G DESCRIPTION:CHAMPION FEES TOTAL FEES:60573 FORM 990 PART IX LINE 11G DESCRIPTION:INSTRUCTOR CUSTOMIZATION FEES TOTAL FEES:45195 FORM 990 PART IX LINE 11G DESCRIPTION:PROFESSIONAL CONSULTANTS TOTAL FEES:18712 FORM 990 PART IX LINE 11G DESCRIPTION:MISCELLANEOUS TOTAL FEES:4824