2025-02-19T13:05:59-06:00 2024-06-30 910189318 MOSS ADAMS LLP 402 E YAKIMA AVENUE SUITE 110 YAKIMA WA 98901 990 2023-07-01 910564993 SAINT MARTIN'S UNIVERSITY SAIN 3604384534 5000 ABBEY WAY SE LACEY WA 98503 TIMOTHY MADELEY VP OF BUSINESS AFFAIRS & CFO 3604384534 2025-02-17 1 0 EMINA O CRESSWELL CPA P01217304 5092487750 2025-02-17 2023 2025-03-06 01:10:19Z TIMOTHY MADELEY 5000 ABBEY WAY SE LACEY WA 98503 78722304 0 X WWW.STMARTIN.EDU X 1895 WA SAINT MARTIN'S UNIVERSITY IS A CATHOLIC BENEDICTINE INSTITUTE OF HIGHER EDUCATION THAT EMPOWERS STUDENTS TO PURSUE A LIFETIME OF LEARNING AND ACCOMPLISHMENT IN ALL ARENAS OF HUMAN ENDEAVOR. 29 28 1035 40 452895 0 8886932 8332539 69372086 65986276 126954 1828246 -413780 -335251 77972192 75811810 30334540 28333447 0 0 27265331 28908762 0 0 1090238 21168077 18282793 78767948 75525002 -795756 286808 109987120 112303627 34049177 31894830 75937943 80408797 X SAINT MARTIN'S STUDENTS LEARN TO MAKE A POSITIVE DIFFERENCE IN THEIR LIVES AND IN THE LIVES OF OTHERS THROUGH THE INTERACTION OF FAITH, REASON, AND SERVICE. THE UNIVERSITY HONORS BOTH THE SACREDNESS OF THE INDIVIDUAL AND THE SIGNIFICANCE OF COMMUNITY IN THE ONGOING JOURNEY OF BECOMING. 0 0 28333447 28333447 0 HIGHER EDUCATION: STUDENT FINANCIAL AID. SAINT MARTIN'S PROVIDES TUITION ASSISTANCE TO THE MAJORITY OF ITS UNDERGRADUATE STUDENT BODY IN THE FORM OF SCHOLARSHIPS, GRANTS, AND LOANS. 18273454 0 58568540 HIGHER EDUCATION: INSTRUCTIONAL PROGRAMS AND RELATED SERVICES FOR ON-CAMPUS AND EXTENSION STUDENTS LEADING TO UNDERGRADUATE AND GRADUATE DEGREES. SAINT MARTIN'S OFFERS DEGREES IN ENGINEERING, BUSINESS, EDUCATION, AND THE LIBERAL ARTS. 9509371 0 348777 HIGHER EDUCATION: STUDENT SERVICES FOR ON-CAMPUS AND EXTENSION STUDENTS LEADING TO UNDERGRADUATE AND GRADUATE DEGREES. 5871572 6598450 HIGHER EDUCATION: AUXILIARY SERVICES INCLUDING FOOD SERVICE, BOOKSTORE, AND STUDENT HOUSING. 5871572 6598450 61987844 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 60 0 1 1035 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 29 28 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 X X ELISABETH SESIN 3606882450 5000 ABBEY WAY SE LACEY WA 98503 JENNIFER BONDS-RAACKE PRESIDENT (THRU 12/23) 50.00 X X 303930 0 34967 STEFANIE POWELL VICE PRESIDENT OF BUSINESS/FINANCE, CFO 50.00 X 214362 0 37758 DAVID OLWELL DEAN OF THE SCHOOL OF ENGINEERING 40.00 X 220897 0 14432 CHUNG-SHING LEE SCHOOL OF BUSINESS DEAN 40.00 X 173417 0 37328 PATTY LEMON DEAN OF ADMISSIONS 50.00 X 162196 0 39217 SHAD HANSELMAN VP OF INSTITUTIONAL ADVANCEMENT 50.00 X 183917 0 16307 ROGER DOUGLAS DEAN OF INTERNATIONAL PROGRAMS 40.00 X 126717 0 34990 MELANIE RICHARDSON DEAN OF STUDENTS 50.00 X 138778 0 20890 TANYA SMITH-BRICE VP OF ACADEMIC AFFAIRS, PROVOST 40.00 X 125857 0 11480 ROY HEYNDERICKX CO-INTERIM PRESIDENT (THRU 6/24) 25.00 X X 57750 0 0 FR KILIAN MALVEY OSB CO-INTERIM PRESIDENT 25.00 X X 0 0 0 MEDRICE COLUCCIO TRUSTEE, BOARD CHAIR 2.00 X X 0 0 0 SAM ARMOUR TRUSTEE, VICE CHAIR 2.00 X X 0 0 0 ABBOT MARION NGUYEN OSB TRUSTEE, CHANCELLOR 2.00 38.00 X X 0 0 0 BR NICOLAUS WILSON OSB TRUSTEE, TREASURER 5.00 35.00 X X 0 0 0 BR BONIFACE V LAZZARI OSB TRUSTEE, SECRETARY 2.00 38.00 X X 0 0 0 TED BILLMAN TRUSTEE 2.00 X 0 0 0 DAN O'NEILL TRUSTEE 2.00 X 0 0 0 RICK PANOWICZ TRUSTEE 2.00 X 0 0 0 GEORGE PARKER TRUSTEE 2.00 X 0 0 0 CLIFF QUISENBERRY TRUSTEE 2.00 X 0 0 0 PATRICK RANTS TRUSTEE 2.00 X 0 0 0 TEDI REYNOLDS TRUSTEE 2.00 X 0 0 0 JAY RUDD TRUSTEE 2.00 X 0 0 0 ROBERT KNAPP TRUSTEE 2.00 X 0 0 0 BR MARK BONNEVILLE OSB TRUSTEE 2.00 38.00 X 0 0 0 BR LUKE DEVINE OSB TRUSTEE 2.00 38.00 X 0 0 0 BR BEDE NICOL OSB TRUSTEE 2.00 38.00 X 0 0 0 JESSICA VAN HATCHER TRUSTEE 2.00 X 0 0 0 ROY BREIMAN TRUSTEE 2.00 X 0 0 0 AMY HARDING TRUSTEE 2.00 X 0 0 0 JENNY KRASKA TRUSTEE 2.00 X 0 0 0 JOE WILLIAMS TRUSTEE 2.00 X 0 0 0 KATHY BEECHER TRUSTEE 2.00 X 0 0 0 JOHN CARR TRUSTEE 2.00 X 0 0 0 STEPHEN LANZA TRUSTEE 2.00 X 0 0 0 JOHN O'HALLORAN TRUSTEE 2.00 X 0 0 0 DREW PHILLIPS TRUSTEE 2.00 X 0 0 0 ROBERT CAMNER TRUSTEE 2.00 X 0 0 0 PERRY SHEA TRUSTEE 2.00 X 0 0 0 INGE MARCUS TRUSTEE 2.00 X 0 0 0 BRIAN CHARNESKI TRUSTEE 2.00 X 0 0 0 SCOTT BOND TRUSTEE (THRU 10/2023) 2.00 X 0 0 0 BR AELRED WOODARD OSB TRUSTEE (THRU 10/2023) 2.00 X 0 0 0 KATIE OPITZ TRUSTEE (THRU 11/2023) 2.00 X 0 0 0 GERALD PUMPHREY TRUSTEE (THRU 11/2023) 2.00 X 0 0 0 1707821 0 247369 27 0 1 0 BON APPETIT PO BOX 417632 BOSTON MA 02241 FOOD SERVICES 3963454 BARNES & NOBLE COLLEGE BOOKSELLERS PO BOX 823660 PHILADELPHIA PA 19182 STUDENT BOOKSTORE 1124594 FORMA CONSTRUCTION 500 COLUMBIA ST NW SUITE 201 OLYMPIA WA 98501 CONSTRUCTION SERVICES 586135 SAINT MARTIN'S ABBEY 5000 ABBEY WAY LACEY WA 98503 TEACHING SERVICES 476956 EAB GLOBAL PO BOX 603519 CHARLOTTE NC 28260 CONSULTING SERVICES 400456 18 1615396 3635121 3082022 1889456 8332539 TUITION AND FEES 611310 58568540 58568540 AUXILIARY ENTERPRISES 611310 7061259 6598450 452895 9914 MISCELLANEOUS CAMPUS REVENUE 611310 356477 348777 7700 65986276 1235094 1235094 201540 5130 196410 196410 196410 2873336 2280184 593152 593152 593152 46149 1615396 625180 -579031 -579031 WORKERS COMP REBATE 47370 47370 47370 75811810 65515767 452895 1510609 27746793 27746793 586654 586654 1118373 119560 998813 21554819 18336196 2737046 481577 532347 306855 217256 8236 3960055 2282654 1616134 61267 1743168 1432014 272933 38221 184584 184584 104770 104770 92346 92346 1854234 1186058 661112 7064 257754 21473 29539 206742 459233 427933 31300 862369 497829 309405 55135 1967912 188497 1773967 5448 1394896 1291983 77402 25511 41824 41824 1778723 1778723 3123678 2298886 824792 370901 340934 29967 FOOD SERVICE 3387460 3321538 57772 8150 DUES AND SUBSCRIPTIONS 732055 535040 174015 23000 1670054 1407881 153553 108620 75525002 61987844 12446920 1090238 2674908 1989858 580000 302645 1756240 1299434 4541420 4056534 732929 790848 118482088 62847451 56654277 55634637 41724158 47518088 13403 13403 1309785 698180 109987120 112303627 3990542 3894400 2382386 2002985 24987434 23882641 2688815 2114804 34049177 31894830 X 35578864 35034779 40359079 45374018 75937943 80408797 109987120 112303627 X 286808 4381014 -196968 X 0 1 X 1 1 1 X 4149954 9428354 17055178 8886932 8332539 47852957 4149954 9428354 17055178 8886932 8332539 47852957 665786 47187171 1062473 3631231 909007 988725 1436634 8028070 47370 47370 55928397 326019547 0.84370 0.82030 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2023 AMOUNT: $ 47,370. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 5714 5714 0 PART II-B, LINE 1: THE UNIVERSITY PAYS DUES OF $114,284 TO THE INDEPENDENT COLLEGES OF WASHINGTON, WHO CONDUCT LOBBYING ACTIVITIES ON BEHALF OF THE UNIVERSITY. 5% OF THE DUES ARE DEVOTED TO LOBBYING. 40547844 1260460 6057416 1178800 92346 46594574 35994329 1104899 4622704 1103200 70888 40547844 33179590 8138693 -4461142 779300 83512 35994329 26633168 561750 6867506 774300 108534 33179590 26260776 373116 835156 785200 50680 26633168 0.16220 0.53920 0.29860 1 0 92485526 43193522 49292004 3549634 3171603 378031 13784215 13660147 124068 8662713 2822179 5840534 55634637 GOVERNMENT GRANTS REFUNDABLE 266702 ANNUITIES PAYABLE 1525573 INTEREST RATE SWAP 293201 RELATED PARTY PAYABLE 29328 2114804 X 52241374 4381014 41000 630310 5052324 47189050 92346 28530415 28622761 75811811 47770520 41000 630310 671310 47099210 92346 28333447 28425793 75525003 PART V, LINE 4: THE UNIVERSITY'S ENDOWMENT CONSISTS OF APPROXIMATELY 190 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. PART X, LINE 2: NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE FINANCIAL STATEMENTS SINCE THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). ADDITIONALLY, THE UNIVERSITY HAS DONE AN ASSESSMENT OF ANY UNCERTAIN TAX POSITIONS AS REQUIRED UNDER FASB ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (ASC 740), AND HAS DETERMINED IT CURRENTLY HAS NO UNCERTAIN TAX POSITIONS AND THEREFORE NO LIABILITY AT JUNE 30, 2024 AND 2023. IN ADDITION, THE UNIVERSITY HAS NO MATERIAL UNRELATED BUSINESS INCOME SUBJECT TO TAX AT JUNE 30, 2024 AND 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 625,180. RENTAL EXPENSES 5,130. PART XI, LINE 4B - OTHER ADJUSTMENTS: UNREALIZED GAIN ON INTEREST RATE SWAP -358,324. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 555,292. SCHOLARSHIPS DISCOUNT 28,333,447. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSE 625,180. RENTAL EXPENSES 5,130. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP DISCOUNTS 28,333,447. 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 PUBLICIZES ITS RACIALLY NONDISCRIMINATORY POLICY THROUGH AN ADVERTISEMENT PLACED IN THE NEWSPAPER. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES FUNDS FROM THE DEPARTMENT OF EDUCATION TO BE GIVEN OUT IN THE FORM OF GRANTS AND LOANS TO STUDENTS. THE UNIVERSITY ALSO PERIODICALLY RECEIVES FUNDS FROM FEDERAL AGENCIES FOR RESEARCH OR EQUIPMENT GRANTS. 1 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 GRANTMAKING EDUCATION 217232 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 GRANTMAKING EDUCATION 152944 MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 0 0 GRANTMAKING EDUCATION 41000 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 GRANTMAKING EDUCATION 131112 SOUTH AMERICA 0 0 GRANTMAKING EDUCATION 19058 SUB-SAHARAN AFRICA 0 0 GRANTMAKING EDUCATION 25308 0 0 0 0 0 0 586654 0 586654 SCHOLARSHIP EAST ASIA AND THE PACIFIC 13 217232 FEE DISCOUNT SCHOLARSHIP EUROPE (INCLUDING ICELAND & GREENLAND) 3 152944 FEE DISCOUNT SCHOLARSHIP MIDDLE EAST AND NORTH AFRICA 1 41000 FEE DISCOUNT SCHOLARSHIP NORTH AMERICA 3 131112 FEE DISCOUNT SCHOLARSHIP SOUTH AMERICA 1 19058 FEE DISCOUNT SCHOLARSHIP SUB-SAHARAN AFRICA 2 25308 FEE DISCOUNT 0 0 0 0 0 0 PART I, LINE 2: STUDENTS RECEIVING SCHOLARSHIPS ARE JUDGED WORTHY BY THE INSTITUTION'S ASSESSMENT ON THE BASIS OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED, AND OTHER SIMILAR STANDARDS. THE UNIVERSITY DETERMINES WHO QUALIFIES FOR FEE DISCOUNTS BASED ON ANALYSIS BY THE FINANCIAL AID OFFICE. FEE DISCOUNTS ARE AWARDED AS PART OF A PACKAGE CONSISTING OF FEDERAL GRANTS, FEDERAL AND UNIVERSITY LOANS, FEDERAL WORK-STUDY AND UNIVERSITY SCHOLARSHIPS. IN ALL CASES, THOSE WHO RECEIVE LOANS HAVE DEMONSTRATED FINANCIAL NEED AND HAVE COMPLETED A FEDERAL FINANCIAL AID APPLICATION FORM. THE AMOUNTS RECEIVED ARE ADDED TO THE STUDENT'S ACCOUNT TO OFFSET THE COST OF TUITION AND FEES. PART I, LINE 3, COLUMN (F): THE ACCOUNTING METHOD USED IS THE ACCRUAL METHOD. PART III: THE ACCOUNTING METHOD USED IS THE ACCRUAL METHOD. PART III, COULMN (C): THE AMOUNT IS THE ACTUAL NUMBER OF RECIPIENTS. GALA 1638470 1615396 23074 184694 195107 222813 GOLF TOURNAMENT 23075 23075 140 22426 1661545 1615396 46149 184694 195247 245239 625180 -579031 1 MERIT-BASED SCHOLARSHIPS & AID 1258 18991356 NEED-BASED SCHOLARSHIPS & AID 266 695525 ATHLETIC SCHOLARSHIPS & AID 169 2183404 TUITION ASSISTANCE, SCHOLARSHIPS AND GRANTS 1641 5876508 PART I, LINE 2: ALL GRANTS REPRESENT INTERNAL TRANSFER OF FUNDS FROM ENDOWMENTS OR OTHER ACCOUNTS TO A REVENUE ACCOUNT FOR TUITION PAYMENTS. NO FUNDS ARE DISTRIBUTED DIRECTLY TO INDIVIDUALS. MERIT SCHOLARSHIPS AND SMU GRANT LEVELS ARE BASED ON THE STUDENT'S ENTERING GPA AND NEED. FOR INCOMING FRESHMAN, TEST SCORES ARE ALSO A FACTOR. PROVIDED THAT EACH STUDENT MAINTAINS THE REQUIRED GPA, DOES NOT EXCEED THE MAXIMUM TIMEFRAME FOR INSTITUTIONAL AID AND SUBMITS EITHER A FAFSA OR FAFSA WAIVER BY THE MARCH 1ST DEADLINE, THE STUDENT WILL BE ELIGIBLE FOR HIS/HER MERIT SCHOLARSHIP OR SMU GRANT. X X X 1 1 X X X X 1 0 0 0 0 0 0 0 0 JENNIFER BONDS-RAACKE PRESIDENT (THRU 12/23) 165842 0 0 0 138088 0 6256 0 28711 0 338897 0 0 0 STEFANIE POWELL VICE PRESIDENT OF BUSINESS/FINANCE, 198746 0 0 0 15616 0 8360 0 29398 0 252120 0 0 0 DAVID OLWELL DEAN OF THE SCHOOL OF ENGINEERING 220897 0 0 0 0 0 7036 0 7396 0 235329 0 0 0 CHUNG-SHING LEE SCHOOL OF BUSINESS DEAN 173417 0 0 0 0 0 7249 0 30079 0 210745 0 0 0 PATTY LEMON DEAN OF ADMISSIONS 162196 0 0 0 0 0 6564 0 32653 0 201413 0 0 0 SHAD HANSELMAN VP OF INSTITUTIONAL ADVANCEMENT 125584 0 0 0 58333 0 7315 0 8992 0 200224 0 0 0 ROGER DOUGLAS DEAN OF INTERNATIONAL PROGRAMS 126717 0 0 0 0 0 3876 0 31114 0 161707 0 0 0 MELANIE RICHARDSON DEAN OF STUDENTS 138778 0 0 0 0 0 5573 0 15317 0 159668 0 0 0 PART I, LINE 1A THE BOARD APPROVES PAYMENTS OR REIMBURSEMENTS FOR THE PRESIDENT AND PRESIDENT'S SPOUSE FOR REASONABLE ENTERTAINMENT EXPENSES, TRAVEL EXPENSES, HOTEL BILLS, AND OTHER NECESSARY EXPENSES TO FURTHER THE INTERESTS OF THE UNIVERSITY. AMOUNTS THAT ARE PERSONAL ARE INCLUDED IN TAXABLE WAGES. THE BOARD PROVIDES A TAXABLE HOUSING ALLOWANCE OF UP TO $33,000 PER YEAR AND A TAXABLE AUTOMOBILE ALLOWANCE OF UP TO $13,200 PER YEAR. THE BOARD PROVIDES THE PRESIDENT, AT THE UNIVERSITY'S EXPENSE, WITH MEMBERSHIP IN BUSINESS CLUBS, SERVICE ORGANIZATIONS AND PROFESSIONAL ORGANIZATIONS THAT WOULD FURTHER THE INTERESTS OF THE UNIVERSITY. ANY PERSONAL USE OF THE MEMBERSHIP DUES ARE INCLUDED IN TAXABLE WAGES. PART I, LINE 4A JENNIFER BONDS-RAACKE, PRESIDENT, RECEIVED SEVERANCE PAYMENT OF $91,888. SHAD HANSELMAN, VP OF INSTITUTIONAL ADVANCEMENT, RECEIVED SEVERANCE PAYMENT OF $58,333. A WASHINGTON HIGHER EDUCATION FACILITIES AUTHORITY 911306482 2014-04-24 33535000 CONSTRUCTION OF SCIENCE BUILDING AND INDUSTRIAL LAB & REFINANCING 2007 BOND 0 0 0 A 9340000 130000 33405000 271857 3870000 29263143 2019 1 0 1 1 A 0 1 1 0 0 0.00770 0.00000 0.00770 0 0 1 A 0 0 0 1 1 1 US BANK 18.000000000000 0 0 0 0 1 A 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: WASHINGTON HIGHER EDUCATION FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 05/10/2024 SCHEDULE K, PART VI THE AMOUNT LISTED ON PART II, LINE 3, TOTAL PROCEEDS OF ISSUE IS DIFFERENT FROM PART I, COLUMN E, ISSUE PRICE OF $33,535,000 DUE TO TOTAL PROCEEDS OF $130,000 NOT REDEEMED FOR USE BY THE UNIVERSITY AND INSTEAD RETURNED TO ISSUER. 0 X 8 1819478 FAIR MARKET VALUE X 2 419 FAIR MARKET VALUE X GALA AUCTION 72 68999 FAIR MARKET VALUE X RAFFLE GIVEAWAYS 1 561 FAIR MARKET VALUE 0 0 1 1 PART I, COLUMN (B): NUMBER OF CONTRIBUTIONS PART I, LINE 32B: AN AUCTIONEER WAS HIRED TO ASSIST WITH THE GALA FUNDRAISING EVENT AUCTION. FORM 990, PART VI, SECTION A, LINE 6 PER THE SAINT MARTIN'S UNIVERSITY BYLAWS, A CAPITULAR OF THE RELIGIOUS HOUSE, KNOWN AS THE MONASTIC COMMUNITY KNOWN AS SAINT MARTIN'S ABBEY, HAS THE RIGHT TO PARTICIPATE IN THE UNIVERSITY'S GOVERNANCE EVEN THOUGH THEY ARE NOT A MEMBER OF THE BOARD OF TRUSTEES. SOME OF THE DECISIONS A CAPITULAR VOTES ON ARE TO ESTABLISH THE PHILOSOPHY AND MISSION ACCORDING TO WHICH THE UNIVERSITY OPERATES; TO AMEND THE ARTICLES OF INCORPORATION OR BYLAWS; TO CONVEY AN INTEREST IN REAL PROPERTY, TO INCUR INDEBTEDNESS SECURED BY ANY REAL OR PERSONAL PROPERTY OWNED BY THE UNIVERSITY; AND TO APPOINT A CERTAIN NUMBER OF CAPITULARS TO THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7A THE CHANCELLOR, THE SECRETARY, AND THE TREASURER, AS MEMBERS OF THE ABBEY, ARE DEEMED MEMBER-TRUSTEES. THE MEMBERS OF THE ABBEY MAY ELECT ADDITIONAL MEMBERS OF THE ABBEY TO SERVE AS MEMBER-TRUSTEES IN SUCH NUMBER AS THE MEMBERS DETERMINE. FORM 990, PART VI, SECTION A, LINE 7B DURING THIS TAX YEAR, THE CAPITULARS ELECTED NEW MEMBERS TO THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS AND APPROVES THE 990, AND THEN THEY FORWARD THE 990 TO THE ENTIRE BOARD OF TRUSTEES FOR FINAL APPROVAL. THE FULL BOARD RECEIVES A COPY OF THE 990, VIA A SECURE INTERNET PORTAL, PRIOR TO SUBMISSION OF THE RETURN. THE VICE PRESIDENT OF BUSINESS AFFAIRS & CFO REVIEWS THE RETURN IN A GROUP FORUM WITH ALL AVAILABLE MEMBERS. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE UNIVERSITY'S BOARD OF TRUSTEES AND SENIOR MANAGEMENT MAY, FROM TIME TO TIME, BE ASSOCIATED EITHER DIRECTLY OR INDIRECTLY WITH COMPANIES DOING BUSINESS WITH THE UNIVERSITY. FOR SENIOR MANAGEMENT, THE UNIVERSITY REQUIRES ANNUAL DISCLOSURE OF SIGNIFICANT FINANCIAL INTERESTS IN, OR EMPLOYMENT OR CONSULTING RELATIONSHIPS WITH, ENTITIES DOING BUSINESS WITH THE UNIVERSITY. THESE ANNUAL DISCLOSURES COVER BOTH SENIOR MANAGEMENT AND THEIR IMMEDIATE FAMILY MEMBERS. WHEN SUCH RELATIONSHIPS EXIST, MEASURES ARE TAKEN TO APPROPRIATELY MANAGE THE ACTUAL OR PERCEIVED CONFLICT IN THE BEST INTERESTS OF THE UNIVERSITY. THE UNIVERSITY HAS A WRITTEN CONFLICT OF INTEREST POLICY THAT REQUIRES, AMONG OTHER THINGS, THAT NO MEMBER OF THE BOARD OF TRUSTEES CAN PARTICIPATE IN ANY DECISION IN WHICH THEY (OR AN IMMEDIATE FAMILY MEMBER) HAS A MATERIAL FINANCIAL INTEREST. WHEN SUCH RELATIONSHIPS EXIST, MEASURES ARE TAKEN TO MITIGATE ANY ACTUAL OR PERCEIVED CONFLICT, INCLUDING REQUIRING THAT SUCH TRANSACTIONS BE CONDUCTED AT ARM'S LENGTH, FOR GOOD AND SUFFICIENT CONSIDERATION, BASED ON TERMS THAT ARE FAIR AND REASONABLE TO AND FOR THE BENEFIT OF THE UNIVERSITY, AND IN ACCORDANCE WITH APPLICABLE CONFLICT OF INTEREST LAWS. NO SUCH ASSOCIATIONS ARE CONSIDERED TO BE SIGNIFICANT. FORM 990, PART VI, SECTION B, LINE 15A SAINT MARTIN'S UNIVERSITY HAS A COMPENSATION COMMITTEE THAT MEETS QUARTERLY TO REVIEW COMPENSATION AND BENEFITS FOR THE PRESIDENT. THE BOARD HAS TO APPROVE THE PRESIDENT'S SALARY ON A SALARY SURVEY DONE BY THE ASSOCIATE VP FOR HUMAN RESOURCES. THE PRESIDENT'S SALARY IS REVIEWED YEARLY. FORM 990, PART VI, SECTION C, LINE 19 SAINT MARTIN'S UNIVERSITY MAKES ITS FINANCIAL INFORMATION AVAILABLE TO THE PUBLIC BY POSTING THE AUDITED FINANCIAL STATEMENTS ON THE UNIVERSITY WEBSITE. OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: UNREALIZED GAIN(LOSS) ON INTEREST RATE SWAP 358,324. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -555,292. SAINT MARTIN'S ABBEY 5000 ABBEY WAY SE LACEY WA 98503 911010006 BENEDICTINE MONASTERY WA 501(C)(3) LINE 1 THE ABBEY CORPORATION 0 CHARITABLE REMAINDER TRUSTS (9) CHARITABLE TRUST WA N/A 0 0 0 1 0 1 0 0 0 0 0 1 0 0 1 1 1 1 0 1