2017-02-13T10:19:38-06:00 2016-06-30 390859910 Baker Tilly Virchow Krause LLP 777 E Wisconsin Avenue 32nd Floor Milwaukee WI 53202 990 2015-07-01 390806297 Lawrence University of Wisconsin LAWR 9208327000 711 E Boldt Way Appleton WI 54911 Christopher Lee VP for Finance & Administration 9208327000 2017-02-13 1 Troy Marine CPA P00187863 4147775500 2017-02-09 2015 2021-01-29 14:40:06Z Christopher Lee 711 E Boldt Way Appleton WI 54911 172819631 0 X www.lawrence.edu X 1847 WI TO PROVIDE A HIGH QUALITY, LIBERAL ARTS EDUCATION AND SOUND CAREER PREPARATION TO ITS STUDENTS. 32 31 1943 600 30308 0 26155692 24087799 76292384 81039516 2656084 1514081 467667 321070 105571827 106962466 31802414 35425085 0 0 38441477 39739218 0 66586 2980009 27674610 27778859 97918501 103009748 7653326 3952718 421649526 435819085 54774027 67179641 366875499 368639444 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 PERSPECTIVE 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 60251455 35425085 65875562 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 more than 390 music majors who pursue their undergraduate degrees at Lawrence. 10910982 13039985 PROVIDE FOOD SERVICE AND HOUSING TO approximately 1500 UNIVERSITY STUDENTS. 9107861 477715 Provide students with services such as music, athletics, community involvement, residential life, counseling, health center, and multicultural affairs. 6933490 1913517 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. 6933490 1913517 87203788 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 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 1 290 0 1 1943 1 1 1 1 UK 0 0 0 1 1 0 0 0 0 X 32 31 0 0 0 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 Dale R Schuh Trustee 1.00 X 0 0 0 David Blowers Vice Chair, Trustee 1.00 X X 0 0 0 David N Knapp Secretary, Trustee 1.00 X X 0 0 0 Dr Peter R Betzer Trustee 1.00 X 0 0 0 Garth Neustadter 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 H Ellerman 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 371963 0 76403 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 Overton B Parrish Jr 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 Robert A Anker Trustee 1.00 X 0 0 0 Robert C Buchanan 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 Chair, Trustee 1.00 X 0 0 0 Terry Moran Trustee 1.00 X 0 0 0 Calvin Husmann VP for Development & Alumni 40.00 X 195316 0 34541 Christopher Lee Treasurer, VP for Finance & Administration 40.00 X 184823 0 34132 David Burrows Dean of Faculty 40.00 X 183362 0 29696 Ken Anselment Dean of Admissions & FA 40.00 X 139262 0 30713 Nancy Truesdell Dean of Students 40.00 X 118453 0 23752 Brian Pertl Dean of Conservatory 40.00 X 178829 0 32178 Craig Gagnon Assoc VP of Communications 40.00 X 112991 0 22217 Jeffrey Stannard Assoc Dean of Conservatory 40.00 X 116235 0 11797 Mary Meany Director of Career Services 40.00 X 120306 0 15039 Merton Finkler Professor of Economics 40.00 X 113246 0 17784 1834786 0 328252 19 0 1 0 Bon Appetit PO Box 37613 Boone IA 500374613 Boarding Costs/Food 4708101 The Boldt Company 100 West Lawrence Street Appleton WI 54912 Construction 1058226 H&H Civil Construction LLC 21110 Main Street Collins WI 54207 Construction 647774 Boldt Procurement LLC PO Box 419 Appleton WI 549120419 Construction 643069 Southern Bleacher Co Inc PO Box One Graham TX 76450 Construction 509202 19 13700 633860 23440239 891252 24087799 TUITION AND FEES 611710 65875562 65875562 Room and Board 611710 13039985 13039985 AUXILIARY ENTERPRISE 611710 1913518 1913518 SUMMER CAMPS & events 611710 111174 111174 CONSERVATORY 611710 96661 96661 2616 2616 81039516 1876339 1876339 13212 0 13212 13212 13212 65424418 55000 65828076 13600 -403658 41400 -362258 -362258 24362 13700 15084 9278 9278 14626 405 14221 14221 MISCELLANEOUS 611710 284359 267263 17096 284359 106962466 81306779 30308 1537580 35425085 35425085 1422416 1422416 28988465 23908848 2977408 2102209 1867439 1529335 198189 139915 5417852 1200433 4197521 19898 2043046 1631571 267563 143912 112710 112710 104861 104861 66586 66586 1314438 759812 513359 41267 249726 27766 220172 1788 1715321 1557199 146214 11908 750023 750023 2217088 1729294 487794 2148139 1248070 583137 316932 98992 62200 22020 14772 1321565 1242977 78588 7130875 6653163 477712 629396 629396 Dining 4620753 4620587 166 OTHER EXPENSES 2248866 1814840 333396 100630 Tuition expenses 1515702 1515702 Repairs and Maintenance 1435324 1370269 53329 11726 165080 156614 8466 103009748 87203788 12825951 2980009 8925875 5805779 3023450 5583595 21188649 17691493 575866 630923 5520878 251485 227786 52259 60561 252872623 141287030 106971864 111585593 177367706 183245179 94693539 101906330 5479453 3077955 3602393 421649526 435819085 8445437 9474039 1012806 1124422 34839291 43929380 2146784 10476493 10505016 54774027 67179641 X 97712656 95861100 68728257 58155342 200434586 214623002 366875499 368639444 421649526 435819085 X 3952718 -162164 -219 -2026391 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 0 1 X 275447518 20553429 1228947 5819255 6718157 284692482 249472855 29564660 7266603 4795976 6060624 275447518 212431926 11020336 36163657 4183663 5959401 249472855 194312077 4408935 22660718 3939329 5010475 212431926 214650801 4093643 -3026957 3944358 5040381 12420671 194312077 0.14000 0.70000 0.16000 1 0 3374876 3374876 170693012 83495593 87197419 66390525 54918182 11472343 12414210 2873255 9540955 111585593 ALTERNATIVE INVESTMENTS 101906330 F 101906330 POSTRETIREMENT OBLIGATIONS 2944144 ANNUITIES PAYABLE 1973731 ASSET RETIREMENT OBLIGATIONS 3388642 Interest rate exchange liability 2198499 10505016 X 69348608 -162164 -37451695 -37613859 106962467 0 106962467 67584663 0 67584663 35425085 35425085 103009748 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 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 for Uncertain tax positions as of June 30, 2016 and 2015. The University's tax returns are subject to review and examination by federal and state authorities. The tax returns for fiscal year 2013 and thereafter are open to examination by federal and state authorities. Part XI, Line 2d - Other Adjustments: Tuition Discounts -35,425,085. Interest rate swap - mark to market -1,238,870. Change in Value of Spilt Interest agreements 526,460. Change in value of interest in trusts -41,928. return of grant -1,242,053. Adjustment for land held for sale -30,000. OTHER ADJUSTMENTS -219. Part XII, Line 4b - Other Adjustments: TUITION DISCOUNTS 35,425,085. 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 569023 Carribean 0 0 Investments Foreign Investments domiciled in the Cayman Islands 50435878 Europe 0 0 Investments Foreign investments domiciled in Scotland 3144809 1 1 0 0 1 1 54149710 0 54149710 0 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 0 0 66586 66586 66586 66586 WI Golf Outing 28560 11900 16660 11397 Tutti Music Academy 9502 1800 7702 250 3437 38062 13700 24362 250 14834 15084 9278 1 Scholarships to students 1521 35425085 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 371963 0 0 0 0 0 63159 0 13244 0 448366 0 0 0 Calvin Husmann VP for Development & Alumni 182739 0 0 0 12577 0 16558 0 17983 0 229857 0 0 0 Christopher Lee Treasurer, VP for Finance & Administ 184823 0 0 0 0 0 16912 0 17220 0 218955 0 0 0 David Burrows Dean of Faculty 183362 0 0 0 0 0 16452 0 13244 0 213058 0 0 0 Ken Anselment Dean of Admissions & FA 139262 0 0 0 0 0 12662 0 18051 0 169975 0 0 0 Brian Pertl Dean of Conservatory 158060 0 0 0 20769 0 14195 0 17983 0 211007 0 0 0 Part I, Line 4b LAWRENCE UNIVERSITY HAS ESTABLISHED A 457(F) PLAN FOR THE PRESIDENT. THIS PLAN IS DEFERRED AND DOES NOT VEST UNTIL THE PRESIDENT SUCCESSFULLY MEETS CRITERIA AS OF 6/30/2018. THE 2016 EMPLOYER CONTRIBUTION TO THE 457(F) PLAN WAS $30,000. A Wisconsin Health & Educational Facilities Authority 391337855 97710BGM5 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 2535000 11065000 220000 10845000 1 0 1 1 B 35505000 150000 7142715 25355000 2857285 1 0 0 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 Various Trustees Grandchildren/Children 20000 Institutional Grants EDUCATION Employeeofficer child 40092 Tuition remission EducATION Renee Boldt Trustee 2308898 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 20 X 19 636252 Fair Market Value X 1 255000 APPRAISALS 1 0 1 1 Part I, Column (b): The University reports the number of contributors on part I, col. B. 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 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 B, line 11 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 Spilt Interest agreements 526,460. Change in the value of interest in trusts -41,928. Interest Rate Swap - Mark to market -1,238,870. Return of Grant -1,242,053. Land Held for Sale -30,000. Form 990, Part XII, Line 2C No changes have been made from the prior year.