2017-02-15T11:00:13-06:00 2016-06-30 350921680 CROWE HORWATH LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2015-07-01 362166964 Aurora University AURO 6308926431 347 SOUTH GLADSTONE AVENUE AURORA IL 60506 SHARON MAXWELL CPA VICE PRESIDENT FOR FINANCE 2017-02-13 true NICOLE BENCIK P00756195 3128997000 2015 2021-01-29 14:40:06Z DR REBECCA SHERRICK 347 SOUTH GLADSTONE AVENUE AURORA IL 60506 130607685 false X WWW.AURORA.EDU X 1899 IL TO PROVIDE POST-SECONDARY UNDERGRADUATE AND GRADUATE EDUCATION. 31 29 1902 296 990201 -302420 19079365 16193578 90729927 96822357 2267348 285736 183129 1446516 112259769 114748187 35927000 38966096 0 44221122 50183381 0 1360167 26400080 26398605 106548202 115548082 5711567 -799895 170939068 172002410 51891641 54648694 119047427 117353716 THE PRIMARY PURPOSE OF AURORA UNIVERSITY IS TO PROVIDE POST-SECONDARY UNDERGRADUATE AND GRADUATE EDUCATION SHAPED BY ITS LONG STANDING COMMITMENT TO EDUCATIONAL EXCELLENCE AND COMMUNITY PARTNERSHIP. THE UNIVERSITY IS GUIDED BY ITS MISSION TO BE AN INCLUSIVE COMMUNITY DEDICATED TO THE TRANSFORMATIVE POWER OF LEARNING AND CONTINUES TO UPHOLD ITS VALUES OF INTEGRITY, CITIZENSHIP, CONTINUOUS LEARNING, AND EXCELLENCE. false false 90419388 38650427 90068264 AURORA UNIVERSITY PROVIDES POST-SECONDARY EDUCATION AND RELATED ACTIVITIES AND SUPPORT SERVICES TO 3,980 UNDERGRADUATE STUDENTS AND 2,567 GRADUATE STUDENTS ON ITS THREE LOCATIONS IN AURORA, ILLINOIS, WILLIAMS BAY, WISCONSIN AND WOODSTOCK, ILLINOIS, AS WELL AS ON-LINE AND VARIOUS OTHER LOCATIONS. DURING THE YEAR, AU GRADUATED 820 STUDENTS WITH BACHELOR OF ARTS AND BACHELOR OF SCIENCE DEGREES, AND 717 STUDENTS WITH GRADUATE DEGREES IN EDUCATION, SOCIAL WORK, BUSINESS, RECREATION, AND NURSING. AS PART OF ITS MISSION, THE UNIVERSITY OFFERS CULTURAL AND EDUCATIONAL OPPORTUNITIES TO ITS STUDENTS, FACULTY, STAFF AND THE NEIGHBORING COMMUNITY. 8184793 315669 7022315 AURORA UNIVERSITY HAS RESIDENCE HALL CAPACITY OF 759 BEDS ON ITS AURORA CAMPUS, AS WELL AS, OFFERING HOUSING SERVICES FOR ITS GRADUATE AND UNDERGRADUATE STUDENTS ON ITS WISCONSIN CAMPUS. FOOD SERVICE FOR STUDENTS AND STAFF IS PROVIDED AT THREE LOCATIONS ON THE AURORA CAMPUS AND A DINING HALL ON THE WISCONSIN CAMPUS. ADDITIONALLY, A BOOKSTORE ON THE AURORA CAMPUS SELLS TEXTBOOKS, SUPPLIES AND MISCELLANEOUS CONVENIENCE ITEMS TO STUDENTS, FACULTY AND STAFF. GEORGE WILLIAMS COLLEGE CAMPUS PROVIDES FOOD SERVICES, LODGING AND MEETING ROOMS FOR ALL INDIVIDUALS PARTICIPATING IN A CONFERENCE OR SEMINAR. THE PROGRAM ANNUALLY PROVIDES SERVICES TO OVER 86 SCHOOLS, CHURCHES, HUMAN SERVICE ORGANIZATIONS AND RETREAT/PROGRAM GROUPS. 98604181 true true false true false false false true true true true false false false true true true false true false true false false false false false false true true true true false false false false false false false true true true true false false false false false false false false true 8873 0 true 1902 true true true false false false false true true false false false true false X 31 29 true false true false false false false true true false false true true true true true true true false false X SHARON MAXWELL CPA 6308445630 347 S GLADSTONE AVENUE AURORA IL 605064808 REBECCA L SHERRICK PHD PRESIDENT 40.0 X X 480066 0 23924 HILARY K BRENNAN CHAIR 2.0 X X 0 0 0 PHILIP S CALI VICE CHAIR 2.0 X X 0 0 0 JOANNE HANSEN VICE CHAIR 2.0 X X 0 0 0 JOHN D AMMONS TRUSTEE 2.0 X 0 0 0 DAVID R BERGMAN TRUSTEE 1.0 X 0 0 0 DONALD A CHURCHILL TRUSTEE 1.0 X 0 0 0 CHAD A DEKING TRUSTEE 1.0 X 0 0 0 CHARLES B DOSS TRUSTEE 1.0 X 0 0 0 FARRELL FRENTRESS TRUSTEE 1.0 X 0 0 0 RONALD HEM TRUSTEE 2.0 X 0 0 0 SHAWN E JEFFERS TRUSTEE 1.0 X 0 0 0 CHRISS JOHNS TRUSTEE 2.0 X 0 0 0 MICHAEL K KEEFE TRUSTEE 1.0 X 0 0 0 RUTH MENDIUS TRUSTEE 2.0 X 0 0 0 DR CALVIN R MYERS TRUSTEE 1.0 X 0 0 0 GERALD PALMER TRUSTEE 2.0 X 0 0 0 SCOTT B PALMER TRUSTEE 2.0 X 0 0 0 MYRON J RESNICK TRUSTEE 1.0 X 0 0 0 DONALD A SCHINDLBECK TRUSTEE 1.0 X 0 0 0 ANN SHEETS TRUSTEE 1.0 X 0 0 0 JOHN D SIMMS JR TRUSTEE 1.0 X 0 0 0 MICHELLE P SIMMS TRUSTEE 1.0 X 0 0 0 DAVID K STONE TRUSTEE 2.0 X 0 0 0 THOMAS T STUHLEY TRUSTEE 1.0 X 0 0 0 RONALD THOMAS TRUSTEE 1.0 X 0 0 0 ROGER A TUCKER TRUSTEE 1.0 X 0 0 0 LINNEA WINDEL TRUSTEE 1.0 X 0 0 0 DELBERT W ARSENAULT TRUSTEE EMERITUS 1.0 X 0 0 0 JAMES E BENSON TRUSTEE EMERITUS 1.0 X 0 0 0 TELL COFFEY TRUSTEE EMERITUS 1.0 X 0 0 0 WA GREENE TRUSTEE EMERITUS 1.0 X 0 0 0 FLORENCE S HART TRUSTEE EMERITUS 1.0 X 0 0 0 DONALD E KIESO TRUSTEE EMERITUS 1.0 X 0 0 0 JOHN F MCKEE TRUSTEE EMERITUS 1.0 X 0 0 0 FR FRANK MILLER TRUSTEE EMERITUS 1.0 X 0 0 0 JOHN M ROESCH TRUSTEE EMERITUS 1.0 X 0 0 0 CALVIN R THELIN TRUSTEE EMERITUS 1.0 X 0 0 0 FRANK K VORIS TRUSTEE EMERITUS 1.0 X 0 0 0 DOUGLAS J CRAFT TRUSTEE 1.0 X 0 0 0 THOMAS R SCOTT TRUSTEE EMERITUS 1.0 X 0 0 0 ANDY PATTON AWARD RECIPIENT MEMBER 1.0 X 0 0 0 HALEY PESSINA AWARD RECIPIENT MEMBER 1.0 X 0 0 0 HECTOR VELAZQUEZ AWARD RECIPIENT MEMBER 1.0 X 0 0 0 DAVID W EISINGER DBA CFA ASSISTANT TO THE PRESIDENT FOR FINANCE (TREASURER THRU 4.30.16) 30.0 X 171781 0 20659 MARGARET E SHARRER SECRETARY 40.0 X 85792 0 10517 MARILYN D CAMPBELL CPA ASSISTANT TREASURER 40.0 X 131732 0 13537 SHARON W MAXWELL CPA TREASURER 40.0 X 128999 0 15828 ANDREW P MANION PHD EXECUTIVE VICE PRESIDENT 40.0 X 231503 0 25150 THEODORE C PARGE EXECUTIVE VICE PRESIDENT FOR ADVANCEMENT 40.0 X 242525 0 13929 DONNA M DESPAIN SENIOR VICE PRESIDENT FOR ENROLLMENT 40.0 X 240048 0 22808 LORA L DELACEY SENIOR VICE PRESIDENT FOR STUDENT LIFE 40.0 X 230742 0 18867 P JOAN POOR PROVOST 40.0 X 233591 0 21331 2176779 0 186550 50 false true true SODEXO INC 9801 WASHINGTONIAN BOULEVARD GAITHERSBURG MD 20878 FACILITIES & FOOD SERVICE MGMT 6836274 SCHERRER CONSTRUCTION CO INC 601 BLACKHAWK DRIVE BURLINGTON WI 53105 CONSTRUCTION 2406833 THE LEARNING HOUSE INC 427 SOUTH FOURTH ST SUITE 300 LOUISVILLE KY 40202 ONLINE CLASS MANAGEMENT 1311043 THE BOLDT COMPANY 2525 N ROEMER ROAD APPLETON WI 54911 CONSTRUCTION 1120322 BURWOOD GROUP INC 125 S WACKER DR 2950 CHICAGO IL 60606 TECHNOLOGY CONSULTING AND INTEGRATION 711411 20 X 13186762 3006816 170818 16193578 STUDENT TUITION & FEES 611310 89624812 89624812 AUXILIARY REVENUE 611310 6754094 6754094 CULTURAL EDUCATION 611310 234383 234383 ATHLETIC EVENTS 611310 209068 209068 0 0 0 0 96822357 563143 9688 553455 1589 1589 101125 18826 82299 0 82299 82299 14928500 0 14363743 842164 564757 -842164 -277407 -277407 902987 634765 268222 268222 CONFERENCE REVENUE 900099 691583 691583 MUSIC BY THE LAKE 900099 278588 278588 124235 0 10342 113893 1094406 114748187 97090579 990201 473829 27692 27692 38938404 38938404 1067671 0 905560 162111 317612 103421 214191 40691837 32075063 7831986 784788 1514232 1435578 66709 11945 3456871 3189387 240970 26514 3135158 2874313 237018 23827 109801 109801 99200 99200 158128 158128 210065 210065 9039537 7827808 1150457 61272 775149 596169 175445 3535 3311761 2320533 925545 65683 1203698 215089 904164 84445 1844615 1600416 232493 11706 757517 630667 77859 48991 230983 193129 36063 1791 414487 414487 6801099 5840371 897646 63082 637753 29891 607585 277 BAD DEBT EXPENSE 323886 323886 DUES, MEMBERSHIPS, & SUBSCRIPTIONS 273649 238564 29586 5499 ENTERTAINMENT 147073 93354 49018 4701 60204 50446 9758 0 115548082 98604181 15583734 1360167 4232379 6831919 910755 1907890 514725 478991 2321109 2065529 0 0 394184 310244 1965855 1175892 186097404 69980960 115152099 116116444 41536937 35906193 3714466 3622881 0 196559 3586427 170939068 172002410 7069547 5983326 6337206 7502120 25200000 25200000 47268 57254 10164766 9525881 3072854 6380113 51891641 54648694 X 78848431 83534571 19206027 12488520 20992969 21330625 119047427 117353716 170939068 172002410 X -799895 -1017125 123309 X false true X true true true X 15756202 16923072 20434128 19079365 16193578 88386345 0 0 15756202 16923072 20434128 19079365 16193578 88386345 0 88386345 1311624 1125460 1117749 891705 607737 5054275 0 19258 100326 398462 102168 109885 730099 94170719 428743818 0.9386 0.9408 X Schedule A, Part II, Line 10 Other Income DESCRIPTION - MISCELLANEOUS REVENUE, COLUMN A - 8088.0, COLUMN B - 60637.0, COLUMN C - 384347.0, COLUMN D - 102168.0, COLUMN E - 109885.0, COLUMN F - 665125.0; DESCRIPTION - TELEPHONE SERVICE, COLUMN A - 10317.0, COLUMN B - , COLUMN C - 0.0, COLUMN D - 0.0, COLUMN E - 0.0, COLUMN F - 10317.0; DESCRIPTION - OTHER REVENUE, COLUMN A - 853.0, COLUMN B - 39689.0, COLUMN C - 14115.0, COLUMN D - , COLUMN E - , COLUMN F - 54657.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false true 158128 false false 158128 false Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY THE UNIVERSITY HIRED A FIRM TO RESEARCH AND CONTACT LEGISLATORS, STAFF AND OTHER GOVERNMENT OFFICIALS FOR POSSIBLE GRANT OPPORTUNITIES TO BENEFIT THE UNIVERSITY. MORE SPECIFICALLY FOR FY2016, THE UNIVERSITY UTILIZED THE SERVICES OF PROFESSIONAL LOBBYISTS TO SECURE PAYMENT OF REMAINING FUNDS FOR AWARDS TO UNIVERSITY STUDENTS UNDER THE ILLINOIS MONETARY ASSISTANCE PROGRAM. Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY THE UNIVERSITY HIRED A FIRM TO RESEARCH AND CONTACT LEGISLATORS, STAFF AND OTHER GOVERNMENT OFFICIALS FOR POSSIBLE GRANT OPPORTUNITIES TO BENEFIT THE UNIVERSITY. MORE SPECIFICALLY FOR FY2016, THE UNIVERSITY UTILIZED THE SERVICES OF PROFESSIONAL LOBBYISTS TO SECURE PAYMENT OF REMAINING FUNDS FOR AWARDS TO UNIVERSITY STUDENTS UNDER THE ILLINOIS MONETARY ASSISTANCE PROGRAM. 0 1646092 X X X false false true X 45435661 388287 -400328 859067 3971627 40592926 46016920 453578 1208285 777135 1465987 45435661 41510518 295890 5861228 824790 825926 46016920 38525229 783105 3880334 633834 1044316 41510518 45755712 310346 -764276 752447 6024106 38525229 0.305 0.511 0.184 true false 5070858 5070858 130756893 39867282 90889611 155288 76406 78882 29249074 19187530 10061544 20865291 10849742 10015549 116116444 DEPOSITS 273864 RETIREMENT BENEFIT OBLIGATION 572913 ANNUITIES PAYABLE 573448 GOVT. ADVANCES FOR STUDENT LOANS 386924 FAIR VALUE OF INTEREST RATE SWAPS 120902 ASSET RETIREMENT OBLIGATION 522000 VOLUNTARY SEPARATION PLAN LIABILITY 3930062 6380113 X 71430831 -1017125 2015986 998861 70431970 210065 44106152 44316217 114748187 73124542 1860237 1860237 71264305 210065 44073712 44283777 115548082 Schedule D, Part III, Line 4 Collections of art - description of collections 1. COLLECTIONS HELD BY THE UNIVERSITY INCLUDE THE SCHINGOETHE COLLECTION OF NATIVE AMERICAN MATERIALS AND ARTIFACTS. TYPICALLY EACH YEAR, THE SCHINGOETHE CENTER HOSTS A VARIETY OF EVENTS AND PROGRAMS DESIGNED TO HELP INFORM ABOUT MANY ASPECTS OF NATIVE AMERICAN CULTURES, BOTH IN HISTORICAL AND CONTEMPORARY CONTEXTS. 2. THE JENKS COLLECTION OF ADVENTIST MATERIAL IS THE SECOND LARGEST COLLECTION OF HISTORIC ADVENT CHRISTIAN BOOKS, MURALS, PHOTOGRAPHS, AND OTHER MATERIALS THAT ARE AVAILABLE FOR RESEARCH. THE JENKS COLLECTION IS MANAGED WITHIN THE PHILLIPS LIBRARY. Schedule D, Part IV, Line 2b Explanation of escrow agreement Aurora University has custodial account liabilities for the various Student Organizations. Schedule D, Part V, Line 4 Intended uses of endowment funds THE ENDOWMENT FUNDS OF THE UNIVERSITY PROVIDE SCHOLARSHIP, OPERATIONAL AND FACILITIES SUPPORT TO THE UNIVERSITY AND ITS FOUR LOCATIONS AURORA, ILLINOIS, WILLIAMS BAY, WISCONSIN AND WOODSTOCK, ILLINOIS. MANY OF THE FUNDS ARE RESTRICTED TO SCHOLARSHIP PURPOSES, HOWEVER A SUBSTANTIAL AMOUNT OF FUNDS ARE BOARD DESIGNATED, OR QUASI-ENDOWMENT FUNDS PROVIDING STRATEGIC FINANCIAL RESOURCES TO THE UNIVERSITY. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote On September 4, 1941, the university was recognized as a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code and, except for taxes pertaining to unrelated business income, is exempt from federal and state income taxes. No provision has been made for income taxes in the accompanying financial statements, as the university has had no significant unrelated business income. The university is not classified as a private foundation. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 FINANCIAL AID EXPENSE - 1206646 CHANGE IN FAIR VALUE OF INTEREST RATE SWAP - 155749 RENTAL EXPENSE - 18826 COST OF GOODS SOLD - 634765 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements SCHOLARSHIPS AND AID - 27213262 GOVERNMENT GRANT EXPENSE - 12643812 ADJUSTMENT OF ANNUITY - 64440 CHANGE IN ASSET RETIREMENT OBLIGATION - -32000 VOLUNTARY SEPARATION PLAN EXPENSE - 4216638 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 FINANCIAL AID EXPENSE - 1206646 RENTAL EXPENSE - 18826 COST OF GOODS SOLD - 634765 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements SCHOLARSHIPS AND AID - 27213262 GOVERNMENT GRANT EXPENSE - 12643812 VOLUNTARY SEPARATION PLAN EXPENSE - 4216638 true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY A STATEMENT INDICATING THE UNIVERSITY'S NONDISCRIMINATORY POLICY IS INCLUDED IN ALL BROCHURES, CATALOGS AND ANNOUNCEMENTS DEALING WITH STUDENT ADMISSIONS, PROGRAMS AND SCHOLARSHIPS, AND IS PRESENT ON THE UNIVERSITY'S WEBSITE. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT AURORA UNIVERSITY RECEIVED FINANCIAL AID FROM GOVERNMENTAL AGENCIES WHICH INCLUDE THE DEPARTMENT OF EDUCATION. Central America and the Caribbean 0 0 Investments 711215 Central America and the Caribbean 0 0 ,EDUCATION/STUDY ABROAD PROGRAMS 28657 Europe (Including Iceland and Greenland) 0 0 ,EDUCATION/STUDY ABROAD PROGRAMS 14335 0 0 0 0 0 0 754207 0 754207 false false false true false false true COMMUNITIES IN SCHOOLS OF AURORA INC 433 PRAIRIE ST AURORA IL 60506 363909467 501C3 21022 FEDERAL WORK STUDY PROGRAM 1 0 SCHOLARSHIPS 4097 38938404 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. THE FINANCIAL AID OFFICE CLOSELY MONITORS ANY CHANGES IN THE STATUS OF FINANCIAL AWARD RECIPIENTS THAT WOULD RESULT IN A CORRESPONDING CHANGE IN THE AMOUNT OF AID AWARDED. ANY SUCH CHANGES ARE AUTOMATICALLY DETECTED AND REPORTED BY A SERIES OF SPECIAL REPORTS THAT ARE RUN ON A REGULAR BASIS. MOREOVER, THE OFFICE OF STUDENT ACCOUNTS ENSURES THAT THE CHARGES TO WHICH THE FINANCIAL AID AWARDS ARE APPLIED ARE CONSISTENT WITH THE INTENDED USE OF THE AWARDS. X true true X X X X X false false false false false false false true false REBECCA L SHERRICK PHD PRESIDENT 365105 0 70000 0 44961 0 15824 0 8100 0 503990 0 0 0 DAVID W EISINGER DBA CFA ASSISTANT TO THE PRESIDENT FOR FINANCE (TREASURER THRU 4.30.16) 163178 0 7000 0 1603 0 10008 0 10651 0 192440 0 0 0 ANDREW P MANION PHD EXECUTIVE VICE PRESIDENT 219974 0 8000 0 3529 0 13846 0 11304 0 256653 0 0 0 THEODORE C PARGE EXECUTIVE VICE PRESIDENT FOR ADVANCEMENT 229575 0 5000 0 7950 0 13846 0 83 0 256454 0 0 0 DONNA M DESPAIN SENIOR VICE PRESIDENT FOR ENROLLMENT 226894 0 10000 0 3154 0 14100 0 8708 0 262856 0 0 0 LORA L DELACEY SENIOR VICE PRESIDENT FOR STUDENT LIFE 219293 0 10000 0 1449 0 13332 0 5535 0 249609 0 0 0 P JOAN POOR PROVOST 231097 0 0 0 2494 0 13242 0 8089 0 254922 0 0 0 Schedule J, Part I, Line 1a Housing allowance or residence for personal use THE TOTAL PRESIDENTIAL COMPENSATION PACKAGE INCLUDES A HOUSING ALLOWANCE. THE HOUSING ALLOWANCE IS TREATED AS TAXABLE COMPENSATION. Schedule J, Part I, Line 7 Non-fixed payments CERTAIN EMPLOYEES RECEIVED DISCRETIONARY MERIT BONUSES BASED ON THEIR PERFORMANCE. A CITY OF AURORA KANE DUPAGE WILL AND KENDALL COUNTIES ILLINOIS 366005778 051648BC6 2004-11-17 12000000 TO FINANCE VARIOUS CAPITAL EXPENDITURES false false false A 0 0 12441259 0 0 0 167587 0 9572 12264100 0 0 2006 false false true true A false false false false 0.0 0.0 0.0 false false true A true false false true true true BMO CAPITAL MARKETS 1.2 false false false false true A true Schedule K, Part II, Line 3 Total proceeds of issue includes $441,259 of interest earnings DR DOUGLAS W KIESO SON OF TRUSTEE EMERITUS - DR. DONALD E. KIESO 103421 DR. DOUGLAS W. KIESO (SON OF TRUSTEE EMERITUS - DR. DONALD E. KIESO) IS EMPLOYED AS PROFESSOR OF CRIMINAL JUSTICE FOR WHICH HE RECEIVED $103,421 IN COMPENSATION AND BENEFITS FROM THE UNIVERSITY. false AMY S MANION WIFE OF FORMER EXECUTIVE VICE PRESIDENT - DR. ANDREW MANION 48494 AMY S MANION (WIFE OF FORMER EXECUTIVE VICE PRESIDENT - DR. ANDREW MANION) WAS EMPLOYED AS THE INFORMATION SERVICES LIBRARIAN FOR WHICH SHE RECEIVED $48,494 IN COMPENSATION AND BENEFITS FROM THE UNVERSITY. false JEFF CALI SON OF TRUSTEE - PHILIP S. CALI 144807 JEFF CALI (SON OF TRUSTEE PHILIP S. CALI) IS EMPLOYED AS THE ASSISTANT VICE PRESIDENT ADMINISTRATION FOR WHICH HE RECEIVED $144,807 IN COMPENSATION AND BENEFITS FROM THE UNIVERSITY. false JAMIE CALI DAUGHTER-IN-LAW OF TRUSTEE - PHILIP S. CALI 20890 JAMIE CALI (DAUGHTER-IN-LAW OF TRUSTEE PHILIP S. CALI) IS EMPLOYED AS A PART-TIME STEM SCHOOL TEACHER FOR WHICH SHE RECEIVED $20,890 IN COMPENSATION AND BENEFITS FROM THE UNIVERSITY. false X 8203 Cost X 1 13000 Market value X 6 26415 Market value X 1 59200 Opinions of experts X 1901 STEINWAY PIANO 1 64000 Opinions of experts 1 false true false Schedule M, Part I Explanations of reporting method for number of contributions Securities - Publicly traded - : The number of contributors is being reported. Historical artifacts - : The number of contributors is being reported. Clothing and household goods - : The number of contributions is being reported Form 990, Part VI, Line 15b Process to establsih compensation of other officers and key employees THE SALARIES OF KEY EMPLOYEES ARE REVIEWED EACH YEAR BY THE PRESIDENT. Form 990, Part VI, Line 2 Family/business relationships amongst interested persons JOHN D. SIMMS, JR. (TRUSTEE) AND MICHELLE P. SIMMS (TRUSTEE) - Family relationship Form 990, Part VI, Line 4 Significant changes to organizational documents The bylaws were changed from "the board shall consist of not less than 33 nor more than 38 voting members" to state "the board shall consist of not less than 28 nor more than 38 voting members." Form 990, Part VI, Line 11b Review of form 990 by governing body AUDIT COMMITTEE MEMBERS AND THE CHAIRS OF THE TRUSTEE AND COMPENSATION COMMITTEES, AND CHAIRMAN OF THE BOARD OF TRUSTEES ARE RESPONSIBLE FOR REVIEWING THE DRAFT FORM 990 PRIOR TO FILING. THE DRAFT FORM 990 IS AVAILABLE TO ALL BOARD MEMBERS FOR THEIR REVIEW PRIOR TO FILING. Form 990, Part VI, Line 12c Conflict of interest policy THE SECRETARY OF THE BOARD OF TRUSTEES IS CHARGED WITH CONTACTING ALL BOARD MEMBERS TO COMPLETE THE ANNUAL CONFLICT OF INTEREST FORM. FOLLOW-UP REQUESTS ARE MADE UNTIL THE FORM HAS BEEN COMPLETED. FOR STAFF, THE VICE PRESIDENT FOR FINANCE SENDS A REQUEST TO ALL STAFF WHO ARE REQUIRED TO COMPLETE THE ANNUAL CONFLICT OF INTEREST FORM. FOLLOW-UP REQUESTS ARE MADE UNTIL THE FORM HAS BEEN COMPLETED. THE CHAIR OF THE TRUSTEE COMMITTEE REVIEWS ALL CONFLICT OF INTEREST STATEMENTS SUBMITTED BY ALL TRUSTEES. IF CONFLICTS REQUIRE ADDITIONAL REVIEW, THE UNIVERSITY BY-LAWS PROVIDES FOR A SPECIAL COMMITTEE TO BE FORMED TO ADDRESS SUCH CONFLICTS. IN ADDITION, CONFLICTS OF INTEREST DISCUSSION IS ON ALL MEETING AGENDAS. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE SALARIES OF KEY EMPLOYEES ARE REVIEWED EACH YEAR BY THE PRESIDENT. A SCAN OF COMPARABLE MARKET SALARIES FOR EQUIVALENT POSITIONS IS DONE TO ASSESS APPROPRIATE COMPENSATION LEVELS. THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS AND APPROVES THE PRESIDENT'S COMPENSATION ON AN ANNUAL BASIS. THE CHAIRPERSON OF THE EXECUTIVE COMMITTEE, THE IMMEDIATE PAST CHAIR OF THE BOARD OF TRUSTEES, CURRENT CHAIR OF THE BOARD OF TRUSTEES AND VICE CHAIRS ARE MEMBERS OF THE COMPENSATION COMMITTEE. Form 990, Part VI, Line 19 Required documents available to the public THE FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part VIII, Line 11d Other Miscellaneous Revenue MBTL CD SALES - Total Revenue: 710, Related or Exempt Function Revenue: , Unrelated Business Revenue: 710, Revenue Excluded from Tax Under Sections 512, 513, or 514: ; BISTRO REVENUE - Total Revenue: 9632, Related or Exempt Function Revenue: , Unrelated Business Revenue: 9632, Revenue Excluded from Tax Under Sections 512, 513, or 514: ; ROYALTY INCOME-TELEPHONE SERVICE - Total Revenue: 4008, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 4008; MISCELLANEOUS REVENU - Total Revenue: 109885, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 109885; Form 990, Part XI, Line 9 Other changes in net assets or fund balances ADJUSTMENT OF ANNUITIES - -64440; CHANGE IN FAIR VALUE OF INTEREST RATE SWAP - 155749; CHANGE IN ASSET RETIREMENT OBLIGATION - 32000;