2017-01-28T12:27:47-06:00 2016-06-30 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 1650 MARKET STREET SUITE 4500 PHILADELPHIA PA 19103 990 2015-07-01 231352692 WILSON COLLEGE WILS 7172644141 1015 PHILADELPHIA AVE CHAMBERSBURG PA 17201 BRIAN ECKER VP FINANCE & ADMINISTRATION 7172644141 2017-01-16 1 JULIUS C GREEN CPA P00350393 2159720701 2015 2021-01-29 14:40:06Z BARBARA MISTICK 1015 PHILADELPHIA AVE CHAMBERSBURG PA 17201 40004213 0 X WWW.WILSON.EDU X 1869 PA PRIVATE, COMPREHENSIVE LIBERAL ARTS AND SCIENCES, NOT-FOR-PROFIT EDUCATIONAL COLLEGE. 23 23 698 485 270425 -123452 6831940 6393822 15061253 17160185 3585520 2848001 1097192 675540 26575905 27077548 5112088 5584219 0 0 10529342 11223205 0 0 968437 11011074 12293205 26652504 29100629 -76599 -2023081 121617469 114221675 38409093 39065356 83208376 75156319 X WILSON COLLEGE IS AN INDEPENDENT COLLEGE WITH A PROUD HISTORY OF EDUCATING STUDENTS SINCE 1869 THROUGH RIGOROUS STUDY OF THE LIBERAL ARTS AND SCIENCES. TODAY, WILSON'S MISSION INCLUDES EDUCATING WOMEN AND MEN ENROLLED IN BACHELOR'S, MASTER'S, AND ASSOCIATE DEGREE PROGRAMS. GUIDED BY THE WILSON HONOR PRINCIPLE AND DISTINGUISHED BY ITS COMMITMENT TO TRANSFORMATIVE STUDENT GROWTH, WILSON COLLEGE PREPARES ALL OF ITS GRADUATES FOR FULFILLING LIVES AND PROFESSIONS, ETHICAL LEADERSHIP, AND HUMANE STEWARDSHIP OF OUR COMMUNITIES AND OUR WORLD. 0 0 21423006 5584219 17196564 WILSON UNDERSTANDS THAT SUSTAINABLE SOLUTIONS TO COMPLEX PROBLEMS WILL REQUIRE INNOVATION AND GLOBAL SAVVY - TALENTS DEVELOPED MOST FULLY THROUGH A RIGOROUS, PERSONALIZED EDUCATION IN THE LIBERAL ARTS AND A POWERFUL LEARNING/LIVING ENVIRONMENT FOR STUDENTS OF DIVERSE BACKGROUNDS. THIS IS WILSON'S COMMITMENT TO ITS STUDENTS.THE TRADITIONAL UNDERGRADUATE COLLEGE OFFERS BACCALAUREATE DEGREE PROGRAMS AND RESIDENTIAL HOUSING. THE ADULT DEGREE PROGRAM OFFERS BACCALAUREATE AND ASSOCIATE DEGREE PROGRAMS, THE TEACHER INTERN PROGRAM, AND OTHER COURSES FOR MEN AND WOMEN. WILSON OFFERS THE "SINGLE PARENT SCHOLAR" PROGRAM. THIS PROGRAM PROVIDES CAMPUS HOUSING YEAR-ROUND TO SINGLE SCHOLARS AND THEIR CHILDREN SO THAT THE PARENT CAN PURSUE A BACHELOR'S DEGREE FULL TIME. WILSON OFFERS MASTER'S DEGREE PROGRAMS IN ACCOUNTANCY, EDUCATION, FINE ARTS, HEALTHCARE MANAGEMENT FOR SUSTAINABILITY, HUMANITIES, AND NURSING. GRADUATE LEVEL CURRICULA ARE DELIVERED AS EITHER NON-RESIDENTIAL, LOW RESIDENCY, OR ONLINE PROGRAMS. 21423006 1 1 0 0 0 0 0 1 0 1 1 1 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 X 1314 0 1 698 1 1 1 1 CJ BD VI 0 0 0 1 1 0 0 0 0 X 23 23 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X BRIAN ECKER VP FINANCE & ADMINISTRATION 7172622017 1015 PHILADELPHIA AVENUE CHAMBERSBURG PA 17201 BARBARA L TENNEY CHAIR 1.00 X X 0 0 0 SUSANNA N DUKE VICE CHAIR 1.00 X X 0 0 0 JUDITH R STEWART SECRETARY 1.00 X X 0 0 0 JAMES A SMELTZER TREASURER 1.00 X X 0 0 0 ROBERT M BAKER TRUSTEE 1.00 X 0 0 0 JENNIFER N BANZHOF TRUSTEE 1.00 X 0 0 0 PATRICIA W BENNETT TRUSTEE (UNTIL MAY 2016) 1.00 X 0 0 0 ROBIN J BERNSTEIN TRUSTEE 1.00 X 0 0 0 MARY F CRAMER TRUSTEE 1.00 X 0 0 0 LYNNE E DISTASIO TRUSTEE 1.00 X 0 0 0 CHRISTOPHER GABLE TRUSTEE 1.00 X 0 0 0 JOHN W GIBB TRUSTEE (UNTIL MAY 2016) 1.00 X 0 0 0 SHELDON GOETTEL TRUSTEE 1.00 X 0 0 0 R CHARLES GRANT TRUSTEE (UNTIL MAY 2016) 1.00 X 0 0 0 RICHARD C GROVE TRUSTEE (UNTIL MAY 2016) 1.00 X 0 0 0 J SAMUEL HOUSER TRUSTEE 1.00 X 0 0 0 NIRMAL JOSHI TRUSTEE (AS OF MAY 2016) 1.00 X 0 0 0 PAMELA FRANCIS KIEHL TRUSTEE 1.00 X 0 0 0 TRACY C LESKEY TRUSTEE 1.00 X 0 0 0 LISBETH S LUKA TRUSTEE 1.00 X 0 0 0 MARY JO MAYDEW TRUSTEE 1.00 X 0 0 0 JAMES A ORSINI TRUSTEE 1.00 X 0 0 0 JILL A ROBERTS TRUSTEE 1.00 X 0 0 0 PHOEBE H STEVENSON TRUSTEE 1.00 X 0 0 0 DOROTHY M VAN BRAKLE TRUSTEE 1.00 X 0 0 0 NANCY D WASHINGTON TRUSTEE 1.00 X 0 0 0 SARAH R WILSON TRUSTEE (AS OF MAY 2016) 1.00 X 0 0 0 BRIAN ECKER VP FINANCE & ADMIN 40.00 X 128750 0 21224 BARBARA K MISTICK PRESIDENT 40.00 X 232500 0 62726 ELISSA HEIL VP ACADEMIC AFFAIRS 40.00 X 132480 0 19434 CAMILLA RAWLEIGH VP INSTITUTIONAL ADVANCEMENT 40.00 X 127980 0 9932 621710 0 113316 4 0 1 0 R S MOWERY & SONS INC 1000 BENT CREEK BLVD MECHANICSBURG PA 17050 CONSTRUCTION LABOR 6916409 SAGE DINING SERVICES INC 1402 YORK RD SUITE 100 LUTHERVILLE MD 21093 FOOD SERVICE 1187991 SODEXO INC & AFFILIATES PO BOX 360170 PITTSBURGH PA 15251 MAINTENANCE CONTRACTOR 667597 MUSSER MECHANICAL INC 80 LANDIS DRIVE MERCERSBURG PA 17236 MAINTENANCE LABOR 162688 BAXTER GROUP INC 941 PROGRESS ROAD CHAMBERSBURG PA 17201 MAINTENANCE LABOR 134057 6 800 990580 5402442 846118 6393822 TUITION AND FEES 611710 14011358 14011358 ROOM AND BOARD 611710 2943144 2943144 BOOKSTORE 611710 110391 110391 STABLE OPERATIONS 611710 95292 93530 1762 17160185 1474076 263 1473813 78329 25419 52910 52910 52910 14273207 12890138 9144 1383069 -9144 1373925 1373925 14005 800 1964 12041 12041 CHILDCARE 624410 185879 185879 CONFERENCES 611710 125392 79091 46301 FEES AND FINES 900099 62406 62406 236912 36379 3430 197103 610589 27077548 17194802 270425 3218499 5584219 5584219 695350 151814 405735 137801 8482444 6512163 1511686 458595 463358 371153 60212 31993 892650 490007 359161 43482 689403 468541 178015 42847 2050238 2035613 8429 6196 71397 71397 74692 74692 359160 359160 583441 285453 297988 370262 158626 211636 915126 524763 227123 163240 277117 557 276560 685091 685091 406026 357258 20486 28282 224818 163760 53589 7469 2143861 1681098 462763 2419498 1406442 1013056 317542 248999 68543 MAINTENANCE 554463 7795 546668 BAD DEBT EXPENSE 136279 136279 SELF-STUDY 117298 117298 BANK SERVICES CHARGES 82035 82035 504861 172356 283973 48532 29100629 21423006 6709186 968437 2950 2950 9390698 3322268 1119181 1847662 509040 601064 1446923 1370978 116034 103977 536183 397927 74491947 29672456 38991898 44819491 39517299 31416846 18413837 19743565 135000 135000 11438426 10459947 121617469 114221675 2259562 1960339 173042 470769 30985881 30994564 4990608 5639684 38409093 39065356 X 31296277 31386096 10426664 4023962 41485435 39746261 83208376 75156319 121617469 114221675 X -2023081 -4367314 -1661662 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 48650 X X X 0 56020994 1320610 -2375278 1185718 6429073 47351535 60305876 1829943 1231855 1095657 6251023 56020994 60028290 1174012 8947734 938033 8906127 60305876 57180277 1057585 8258847 834007 5634412 60028290 60520915 4075586 -1665106 726685 5024433 57180277 0.39310 0.60690 1 0 575546 575546 63167508 24378959 38788549 8315776 5293497 3022279 2433117 2433117 44819491 LIFE INSURANCE POLICIES CASH SURRENDER VALUE 27572 F ALTERNATIVE INVESTMENTS 19715993 F 19743565 ASSETS HELD IN TRUST UNDER SPLIT INTEREST AGREEMENTS 10459947 10459947 FUNDS HELD IN CUSTODY FOR OTHERS 105968 ADVANCES FROM US GOVT FOR STUDENT LOANS 556460 OBLIGATION UNDER INTEREST-RATE SWAP AGREEMENTS 4908268 CAPITAL LEASE OBLIGATIONS 68988 5639684 X 15132576 -4367314 -7605041 -11972355 27104931 -27383 -27383 27077548 23184633 27383 27383 23157250 5943379 5943379 29100629 PART III, LINE 4: THE HANKEY CENTER SERVES AS COLLEGE ARCHIVES WHICH INCLUDES THE C. ELIZABETH BOYD ('33) ARCHIVES AND THE BARRON BLEWETT HUNNICUTT CLASSICS GALLERY. THE HANKEY CENTER IS NAMED IN HONOR OF JOAN HANKEY '59, THE DONOR THAT HAS MADE IT POSSIBLE FOR WILSON COLLEGE TO KEEP ALIVE THE HISTORY OF WOMEN AT WILSON AND TO FURTHER THE ADVANCEMENT AND EDUCATION OF WOMEN AND GIRLS GLOBALLY. PART V, LINE 4: INCOME FROM ENDOWMENT FUNDS ARE USED TO PROVIDE SCHOLARSHIPS, SUPPORT FACULTY/STAFF DEVELOPMENT, AND TO SUPPORT OPERATIONS OF THE COLLEGE. PART X, LINE 2: THE COLLEGE IS A NOT-FOR-PROFIT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. THE COLLEGE ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES USING A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD IS MET. MANAGEMENT DETERMINED THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD IN FISCAL 2016 AND 2015. THE COLLEGE'S POLICY IS TO RECOGNIZE INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS -979,746. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP -681,916. STUDENT FINANCIAL AID (NETTED AGAINST TUITION ON FINANCIAL STATEMENTS) -5,584,219. INVESTMENT FEES (NETTED AGAINST REVENUE ON FINANCIAL STATEMENTS) -359,160. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -25,419. FUNDRAISING EXPENSES -1,964. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 25,419. FUNDRAISING EXPENSES 1,964. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID (NETTED AGAINST TUITION ON FINANCIAL STATEMENTS) 5,584,219. INVESTMENT FEES (NETTED AGAINST REVENUE ON FINANCIAL STATEMENTS) 359,160. 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 ORGANIZATION'S NONDISCRIMINATION POLICY IS IN ALL OF ITS PUBLICATIONS INCLUDING THE SCHOOL'S CATALOG AND COURSE ROSTER. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES VARIOUS FEDERAL GRANTS DIRECTLY FROM THE U.S. DEPARTMENT OF EDUCATION. THESE GRANTS INCLUDE SUPPLEMENTAL EDUCATION OPPORTUNITY GRANTS, COLLEGE WORK-STUDY FUNDING, AND PELL GRANTS. THE COLLEGE ALSO RECEIVES GRANTS FROM THE COMMONWEALTH OF PENNSYLVANIA, THE MOST SIGNIFICANT OF WHICH IS THE INSTITUTIONAL ASSISTANCE GRANT. 1 STUDENT WORK STUDY 203 227985 N/A N/A TUITION EXCHANGE AND REMISSION STUDENTS ENROLLED 66 378121 N/A N/A INSTITUTIONAL SCHOLARSHIPS FOR STUDENTS ENROLLED 384 4296520 N/A N/A ENDOWED SCHOLARSHIPS 208 681593 N/A N/A PART I, LINE 2: SCHOLARSHIP FUNDS ARE AWARDED TO STUDENTS WHO MEET THE FINANCIAL REQUIREMENTS AS DEMONSTRATED BY THE RESULTS FROM FEDERAL FREE APPLICATION FOR FEDERAL STUDENT AID. ENDOWED SCHOLARSHIP RECIPIENTS ALSO MEET THE SPECIFIC CRITERIA AS IDENTIFIED BY THE DONORS. INSTITUTIONAL FINANCIAL AID IS ALSO AWARDED TO STUDENTS WHO MEET SPECIFIC MERIT OR AFFILIATION CRITERIA. RECIPIENTS OF TUITION REMISSION AND EXCHANGE PROGRAMS ARE VERIFIED FIRST BY THE DIRECTOR OF HUMAN RESOURCES. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 BARBARA K MISTICK PRESIDENT 232500 0 0 0 0 0 34938 0 27788 0 295226 0 0 0 ELISSA HEIL VP ACADEMIC AFFAIRS 132000 0 0 0 480 0 9900 0 9534 0 151914 0 0 0 PART I, LINE 1A BARBARA MISTICK, PRESIDENT, HAS ON CAMPUS HOUSING. AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE EMPLOYER, THE PRESIDENT IS REQUIRED TO LIVE IN COLLEGE HOUSING; THEREFORE, NONE OF THE BENEFIT WAS TREATED AS TAXABLE COMPENSATION. ADDITIONALLY, THE COLLEGE HOUSING IS USED FOR FUNDRAISING AND CAMPUS RELATED EVENTS. THE COLLEGE PAYS COUNTRY CLUB DUES AS WELL AS SOCIAL CLUB DUES FOR THE PRESIDENT. BECAUSE THESE DUES ARE RELATED TO FUNDRAISING EFFORTS, THEY WERE NOT TREATED AS TAXABLE COMPENSATION. A MUNICIPAL AUTHORITY BOROUGH OF CHAMBERSBURG 251742939 158042AA9 2007-11-08 31180000 CONSTRUCTION OF SCIENCE CENTER BUILDING 0 0 0 A 31315687 237534 27342384 3735769 2009 1 0 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 1 1 BANK OF AMERICA SWAP 21.400000000000 0 0 0 0 1 A 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: MUNICIPAL AUTHORITY BOROUGH OF CHAMBERSBURG DATE THE REBATE COMPUTATION WAS PERFORMED: 11/28/2012 SCHEDULE K, PART II, LINE 3: TOTAL PROCEEDS REPORTED ON LINE 3 OF PART II EXCEEDS BOND PROCEEDS IN PART I DUE TO INVESTMENT EARNINGS OF $135,687. SCHEDULE K, PART IV, LINE 3: THE COLLEGE ENTERED INTO THREE INTEREST RATE SWAP AGREEMENTS IN CONNECTION WITH ITS SERIES 2007 BONDS WITH BANK OF AMERICA. THE TERMS OF THE SWAP AGREEMENTS EXPIRE AS FOLLOWS: NOVEMBER 2018, NOVEMBER 2037, AND NOVEMBER 2037. X 1719 DONOR COST X 29 817297 QUOTED MARKET PRICES X HORSES 2 11000 DONOR COST X FURNITURE & EQUIPMENT 11 9103 DONOR COST X GIFT CERTIFICATE/GIVE AWAYS 17 4950 DONOR COST X FOOD/BEVERAGE DONATIONS 11 1706 DONOR COST X SERVICES/MATERIALS 14 203 DONOR COST X CLOTHING & HOUSEHOLD GOODS 1 140 DONOR COST 0 1 1 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS IN COLUMN B IS THE NUMBER OF DONORS WHO CONTRIBUTED PER CATEGORY. PART I, LINE 32B: THE COLLEGE USES HANOVER CAPITAL MANAGEMENT TO SELL STOCK THAT IS RECEIVED AS A CONTRIBUTION. FORM 990, PART VI, SECTION A, LINE 3 THE COLLEGE OUTSOURCED ITS PHYSICAL PLANT, FOOD SERVICES, CAMPUS SAFETY, AND CONFERENCES. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WAS REVIEWED FIRST BY THE PRESIDENT AND CABINET (MANAGEMENT REVIEW). PURSUANT TO THE BOARD'S DELEGATION OF AUTHORITY, THE FORM 990 WAS SUBMITTED TO THE AUDIT COMMITTEE FOR REVIEW AND APPROVAL. FOLLOWING THE AUDIT COMMITTEE'S REVIEW AND APPROVAL, THE FORM 990 WAS PROVIDED TO EACH TRUSTEE PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE WILSON COLLEGE CONFLICT OF INTEREST POLICY PROTECTS THE INTERESTS OF THE COLLEGE IN CONNECTION WITH ANY TRANSACTION OR ARRANGEMENT THAT MIGHT BENEFIT THE PRIVATE INTERESTS OF ANY COVERED PERSON. A "COVERED PERSON" INCLUDES EACH OF THE COLLEGE'S TRUSTEES, OFFICERS, MEMBERS OF ANY COMMITTEE OF THE COLLEGE'S BOARD OF TRUSTEES WITH AUTHORITY TO ACT ON BEHALF OF THE BOARD OF TRUSTEES, AND THE COLLEGE'S EXECUTIVE EMPLOYEES AND ANY OTHER MANAGER OR SUPERVISOR IDENTIFIED BY THE BOARD OF TRUSTEES OR THE PRESIDENT AS EXERCISING SUBSTANTIAL INFLUENCE OVER THE OPERATIONS OF THE COLLEGE. EACH COVERED PERSON IS REQUIRED TO SIGN A STATEMENT THAT AFFIRMS THAT THEY READ, UNDERSTAND, AND AGREE TO COMPLY WITH THE POLICY. THEY ARE ALSO REQUIRED TO SUBMIT, ON AN ANNUAL BASIS, A QUESTIONNAIRE DISCLOSING THEIR ACTUAL AND POTENTIAL CONFLICTS OF INTEREST. POTENTIAL CONFLICTS OF INTEREST IDENTIFIED THROUGH THE REVIEW OF THE QUESTIONNAIRE BY THE SECRETARY OR VICE PRESIDENT, OR OTHER POTENTIAL CONFLICTS OF INTEREST ARISING DURING CONSIDERATION OF A TRANSACTION OR ARRANGEMENT ARE REPORTED TO THE BOARD'S AUDIT COMMITTEE. THE AUDIT COMMITTEE WILL EVALUATE THE DISCLOSURES AND THE MATERIAL FACTS AND DETERMINE WHETHER THERE IS A CONFLICT OF INTEREST. THE AUDIT COMMITTEE MAY REFER THE MATTER TO THE BOARD FOR SUCH A DETERMINATION. IF IT IS DETERMINED THAT NO CONFLICT OF INTEREST EXISTS, THE COVERED PERSON MAY PARTICIPATE FULLY IN THE DISCUSSION OF AND VOTE ON THE PROPOSED TRANSACTION OR ARRANGEMENT. FORM 990, PART VI, SECTION B, LINE 15 A SEPARATE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS CURRENT SALARY, EVALUATION RESULTS FOR THE PRESIDENT, AND DATA FROM THE FOLLOWING SOURCES: SALARIES OF PEER AND ASPIRANT COLLEGES, FORMS 990 FROM OTHER INSTITUTIONS, GUIDESTAR INFORMATION AND RELEVANT SALARY SURVEYS, INCLUDING BUT NOT LIMITED TO, THE ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES OF PENNSYLVANIA (AICUP) AND THE COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION (CUPA), TO ENSURE THAT COMPENSATION DOES NOT EXCEED FAIR MARKET VALUE. THE RECOMMENDATION OF THE COMPENSATION COMMITTEE IS THEN SHARED AND DISCUSSED WITH THE ENTIRE BOARD OF TRUSTEES (IN EXECUTIVE SESSION) AND THE ENTIRE BOARD VOTES ON THE COMPENSATION RECOMMENDATION. THIS IS DOCUMENTED VIA COMMITTEE MINUTES. COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES IS BASED ON MARKET SURVEY INFORMATION AND AUTHORIZED/APPROVED BY THE PRESIDENT. THE COMPENSATION IS ULTIMATELY APPROVED BY THE BOARD OF TRUSTEES AS PART OF THE ANNUAL BUDGET PROCESS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS IN THE FORM OF THE 990 AND 990-T ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUST -979,746. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP -681,916.