2017-05-11T14:31:19-05:00 2016-06-30 450250958 EIDE BAILLY LLP 1730 BURNT BOAT LOOP STE100 BISMARCK ND 585030886 990 2015-07-01 450273403 University of Mary UNIV 7012557500 7500 University Dr Bismarck ND 585049652 Gregory A Vetter Executive Vice President 7012557500 2017-04-27 1 Lisa Chaffee CPA P00193453 7012551091 2017-04-27 2015 2021-01-29 14:40:06Z Gregory A Vetter 7500 University Dr Bismarck ND 585049652 90615913 0 X www.umary.edu X 1959 ND A private institution of higher education offering graduate and undergraduate degrees. 29 27 1068 27 9895 6694 14350133 11912702 50593958 52951929 1637095 8475546 51702 237611 66632888 73577788 10850440 11823799 0 0 25563010 24593744 4281967 3557849 4310138 20417593 22073864 61113010 62049256 5519878 11528532 133640115 147183702 25042437 36723156 108597678 110460546 X The University of Mary exists to serve the religious, academic and cultural needs of the people in this region and beyond.(Continued on Schedule O) 0 0 21024079 45305501 Academic Divisions - This area contains the curriculum and related expenses for all divisions of the college, including both post-secondary education and graduate programs. University of Mary serves approximately 4,068 students and has 432 faculty members. They have four schools with more than 54 degree programs. In addition, there are 14 graduate degree programs and three doctoral degrees. They average a placement rate of approximately 99 percent overall for their graduates. 11607387 11607387 Student Aid & Expenses - University of Mary offers various types of financial assistance to students including federal, state, and private programs as well as other forms of student aid and work programs. During the current year, 1,341 students received some type of academic student aid and 259 students received athletic student aid. In addition, 68 international students received student aid as well. 7975728 5728108 Auxiliary Activities - Auxiliary activities includes all student housing and food services including the cost of residence halls, student apartments, and student transportation service. The University of Mary also has a university store, cafeterias, snack bar and coffee shop. 14639804 216412 2146008 Educational Plant Operations, Financial Affairs, General Institutional, Public Affairs, Enrollment Services, and all other services including General Administration, Academic Affairs, Student Development, and Student Senate. 14639804 216412 2146008 55246998 1 1 0 0 0 1 0 1 1 1 1 0 0 0 1 1 1 0 1 1 1 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 1 158 0 1 1068 1 1 1 1 IT 0 0 0 1 1 0 0 0 0 X 29 27 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 1 1 X Gregory A Vetter 7013558303 7500 University Dr Bismarck ND 58504 X Dan Butler Chair 1.00 X X 0 0 0 Sister Nicole Kunze Prioress, President (Starting May) 1.00 40.00 X X 0 0 0 Sister Nancy Miller Prioress, President (Through May) 1.00 40.00 X X 0 0 0 Tim Hennessy Vice Chair 1.00 X X 0 0 0 Sister Patricia Schap Secretary 1.00 X X 0 0 0 A Kirk Lanterman Trustee 1.00 X 0 0 0 Abbot Brian Wangler Trustee 1.00 X 0 0 0 Bill Daniel Trustee 1.00 X 0 0 0 Dr Harold J Miller Trustee 40.00 X 168023 0 25256 Julie Liffrig Fedorchak Trustee 1.00 X 0 0 0 Joe Hauer Trustee 1.00 X 0 0 0 John Simmons Trustee 1.00 X 0 0 0 Kevin Cramer Trustee 1.00 X 0 0 0 Mike Hofer Trustee 1.00 X 0 0 0 Niles Hushka Trustee 1.00 X 0 0 0 Sister Agatha Muggli Trustee 1.00 X 0 0 0 Sister JoAnn Krebsbach Trustee 1.00 X 0 0 0 Sister Susan Lardy Trustee 1.00 X 0 0 0 Kathleen Gaddie Trustee 1.00 X 0 0 0 David Goodin Trustee 1.00 X 0 0 0 Mikey Hoeven Trustee 1.00 X 0 0 0 Sister Agnes Reinert Trustee 1.00 X 0 0 0 Pauline Economon Trustee 1.00 X 0 0 0 Troy Nelson Trustee (Through April) 1.00 X 0 0 0 Terry Zeltinger Trustee (Through April) 1.00 X 0 0 0 Sister Rebecca Mayer Trustee (Through April) 1.00 X 0 0 0 George Ehlis Trustee (Through April) 1.00 X 0 0 0 Bill Clairmont Trustee (Through April) 1.00 X 0 0 0 Cheryl Kulas Trustee (Through April) 1.00 X 0 0 0 Scott Davis Trustee (Starting May) 1.00 X 0 0 0 Monsignor Greg Schlesselmann Trustee (Starting May) 1.00 X 0 0 0 Gary Tharaldson Trustee (Starting May) 1.00 X 0 0 0 Dr Gary Watts Trustee (Starting May) 1.00 X 0 0 0 Kurt Schley Trustee (Starting April) 1.00 X 0 0 0 Dr Jonathan Reyes Trustee (Starting December) 1.00 X 0 0 0 Monsignor James P Shea President 40.00 X X 80030 0 12346 Mary Hager Treas., VP of Financial (July-Jan) 40.00 X 120643 0 28092 Gregory Vetter-TreasJan-June Executive VP/Chief of Staff 40.00 X 172996 0 34176 Neal Kalberer Chairman of the Campaign 40.00 X 120259 0 18303 Diane Fladeland V.P. for Academic Affairs 40.00 X 130347 0 10308 Patrick O'Meara V.P. for Mission Advancemen 40.00 X 149038 0 12788 Kimberly McDowall-Long Assistant V.P. for Academic 40.00 X 132276 0 7910 Joellen Roller Dean of School of Health S 40.00 X 121626 0 16583 1195238 0 165762 23 0 1 0 Compass Group USA Inc 5375 Creekside Place LaCrosse WI 54601 Dining Services 3263671 The Pelican Group 44050 Ashburn Plaza Ste 195-723 Ashburn VA 20147 Consulting Services 1504424 Dynamic Campus Solutions Inc 2806 Flintrock Trace Suite 205 Austin TX 787381746 IT Services 1487392 Belden Construction LLC 3408 Spruce Dr N Mandan ND 585548226 Repair Services 533677 Jenzabar 1401 Technology Dr Harrisonburg VA 228022543 Maintenance/Consulting 496695 22 230955 11681747 913278 11912702 Student Tuition & Fees 611600 45305501 45305501 Auxiliary Enterprises 611600 5728108 5728108 Other 611600 1918320 1917934 386 52951929 809386 809386 22582137 683912 14516698 1083191 8065439 -399279 7666160 7666160 1666310 1438236 228074 228074 Dakota Upreit K-1 900099 7397 7397 Buckeye Partners K-1 900099 1688 1684 4 Enterprise Products K-1 900099 1423 1385 38 -971 -957 -14 9537 73577788 53179617 9895 8475574 216412 216412 11607387 11607387 497320 313010 184310 19690511 18800721 506102 383688 1050129 1006393 23197 20539 1832674 2643908 -865191 53957 1523110 1421589 72509 29012 398094 5065 393029 3557849 3557849 5837396 5599105 238291 294085 223957 58341 11787 1920519 1310916 540607 68996 643571 643571 1993615 1909455 84160 932622 931842 780 651141 631594 19547 574509 183107 391402 2303561 1796695 506866 43329 43329 Activities Expense 1838621 1734446 104175 Change in Allowance/Dis 1313723 1313723 Repairs & Maintenance 931101 931089 12 Public Affairs 818556 818556 1579421 1474138 105283 62049256 55246998 2492120 4310138 5753193 12828463 608136 489900 3238829 8779599 241941 301665 39359 40874 401269 394133 3992596 2199450 105321962 35046623 56160396 70275339 59605819 48353259 2817449 2730449 781128 790571 133640115 147183702 4043972 6520864 11692 11692 2756567 3566838 5655693 4822266 550073 678292 7000284 6875040 9712386 5149400 4410534 25042437 36723156 X 56611507 59563296 14004851 11044224 37981320 39853026 108597678 110460546 133640115 147183702 X 11528532 -8572076 -921701 -171887 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 49618 992195 1 1 189347 X X 0 0 1 X 50035030 3049111 -1413717 516948 1520307 49633169 43309896 11919245 1077995 592603 5679503 50035030 36440103 2181788 5395197 404670 294828 43317590 34378457 965426 1940558 407165 437173 36440103 34181341 765303 248771 546655 270303 34378457 0.13060 0.80300 0.06640 0 0 1031506 1031506 68279915 21114276 47165639 11559191 9431188 2128003 2164541 22286809 4501159 19950191 70275339 Annuities Payable 2173399 Government Grants Refundable 1457532 Unitrust Payments Due Grantors 779603 4410534 X 64986803 -8572076 -1447608 -10019684 75006487 -1428699 -1428699 73577788 62202234 1438236 1438236 60763998 1285258 1285258 62049256 Part III, Line 4: All gifts are subject to prior review and approval by the board. Gifts received help to further higher education by serving academic, religious, and cultural needs of the students. Part IV, Line 2b: University of Mary chartered clubs, student academic associations, and approved faculty and staff associations have established university agency accounts. Part V, Line 4: Permanently Restricted and Board Restricted Endowments - Income from these funds is used to help further the exempt purpose of the university. Loan Fund Endowments - Used to loan students money on a short term basis until financial aid comes through. Typically, the loans are only outstanding for a week or so. Family Fund Endowments - To benefit various non-profit organizations specified by the donor including the university. As per the financial statements the beginning balance of the Endowment net assets changed by -$921,701 due to improper classification of endowment investment income. Part X, Line 2: The University is a nonprofit organization and has been recognized by the Internal Revenue Service (IRS) as exempt from federal income taxes under Section 501(c)(3). The University is annually required to file a Return of Organization Exempt from Income Tax (Form 990) with the IRS. In addition, the entities are subject to income tax on net income that is derived from business activities that are unrelated to their exempt purposes. The University has deteremined it is not subject to unrelated business income tax and has not filed an Exempt Organization Business Income Tax Return (Form 990-T) with the IRS. The University believes that it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The entities would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. While preparing the Form 990, it was discovered the University would have a Form 990-T filing requirement and as a result is filing a 990-T for the year ending June 30, 2016. Part XI, Line 2d - Other Adjustments: Actuarial Gains - Unitrust 114,733. Actuarial Losses - Annuities -290,163. Pledge Rec Allow/Disc Recorded in Revenues for Financials -1,285,258. Book Income: Dakota Upreit 13,080. Part XI, Line 4b - Other Adjustments: Cost of Sales Expense Recorded in Revenues for Tax Return -1,438,236. Tax Income: Dakota Upreit 7,397. Tax Income: Starion 278. Tax Loss: OneOK Partners -1,249. Tax Income: Enterprise Products Partners 1,423. Tax Income: Buckeye Partners 1,688. Part XII, Line 2d - Other Adjustments: Cost of Sales Expense Recorded in Revenues for Tax Return 1,438,236. Part XII, Line 4b - Other Adjustments: Pledge Rec Allow/Disc Recorded in Revenues for Financials 1,285,258. Schedule D, Part I: See Schedule I for additional information. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 0 Schedule E, Part I, Line 3 The University does routinely publicize its policy through newspaper including job opening advertisements. The University does make the policy accessible to the public through its website. The University does not routinely publicize its policy through broadcast media currenlty, but it plans to in the future. Schedule E, Part I, Line 6 The University receives Title IV funds and trio funds and administers the use of those funds. Schedule E, Part I, Line 7 4.03 - The University does not publicize its policy through newspaper or broadcast media. EUROPE 1 4 Foreign University Campus University Studies 628523 1 4 0 0 1 4 628523 0 628523 0 0 0 0 0 0 Part I, line 3: Accrual Basis Accounting X X X X 1 The Pelican Group 44050 Ashburn Plaza Ste 195-723 Ashburn VA 20147 Professional Fundraising 0 10350097 3521849 6828248 Alethes Media Group LLC 525-K East Market St Ste 293 Leesburg VA 20176 Consulting on Direct Mail Professional Fundraising 0 46392 36000 10392 10396489 3557849 6838640 CA WV AL AR HI MN NC VA WA CO MS NY AZ DE DC ID IN IA MT NE NV SD TX VT WY LA FL NJ ND GA IL KS KY NM PA RI TN Schedule G, Part I: The University of Mary has engaged The Pelican Group in a three year contract for Mission Advancement Services, which includes training and development for the University Mission Advancement personnel and executing the Vision 2030 strategic plan. The Pelican Group does not do direct solicitations on behalf of the University. The $5 million down payment paid to the Pelican Group reported on line 2b(v) of schedule G was a cash payment which will be amortized over the life of the contract. 1 Bismarck Mandan Chamber Foundation 1640 Burnt Boat Dr Bismarck ND 58501 263807225 501c3 80000 General Operating Bismarck Parks & Recreation 400 E Front Ave Bismarck ND 58504 450409352 government 5000 General Operating Fellowship of Catholic University Students PO Box 33656 Denver CO 80233 841522811 501c3 63500 General Operating God's Child Project PO Box 1843 Bismarck ND 58502 450422423 501c3 12475 General Operating Light of Christ Catholic Schools of Excellence 1025 N 2nd St Bismarck ND 58501 460581758 501c3 27200 General Operating Pontifical North American College 3211 4th St NE Washington DC 20017 237201921 501c3 8000 General Operating 6 0 Volleyball 14 163807 Women's Tennis 7 34000 Women's Softball 17 141409 Football 71 627618 Wrestling 13 70994 Men's Basketball 15 231744 Women's Basketball 16 215050 Men's Track 20 135000 Women's Track 24 214660 Baseball 27 104000 Men's Soccer 14 135426 Women's Soccer 21 195000 Fifth Year 6 25000 Music 81 114825 Student Activities Scholarships 18 9000 UM Nursing Tuition Grant 30 0 National Guard Waiver 40 30336 Military Scholarship 88 242706 Veteran's Yellow Ribbon 5 3489 Presidential 1232 5564697 Catholic Scholars 192 1062481 Honors Day 25 126888 Catholic Educators 58 186657 SSS Merit Scholarship 86 45950 Pacesetter Grant 77 39280 Phi Theta Kappa 43 235000 Freedom Plan 18 89330 SSS Book Grant 108 8200 CIC - T&P 1 15440 Donated Scholarships 5 21500 Business Partnership Scholarship 117 140339 UM Need-Based Grant 200 334289 Student Teacher Training 27 34100 Cultural Diversity Scholarship 1 15440 Newman Academic Scholarship 32 295883 Aquinas Scholarship 22 42750 St. Benedict Scholarship 6 15250 St. Christopher Scholarship 5 4500 Auxiliary Scholarship 7 7850 Continuing Catholic Educ. Scholarship 3 4635 Community Commitment 59 29500 Ecclesia 15 9050 Next Step 24 41250 St. Scholastica Scholarship 19 14282 CHI Futue Healthcare Leader Scholarship 36 79500 Summer Start Scholarship 128 46930 Bioethics Scholarship 2 1000 Catholic Non-Trad Graduate Scholarship 2 1156 ECOWEB Scholarship 2 18000 CHI St. Alexius Partnership Scholarship 23 33220 Indian Mission Gratitude MBA Scholarship 1 400 YRC Summer Grant Replacement Scholarship 13 32959 Catholic Bishop's Scholarship 6 8250 Part I, Line 2: The University is contributing funds to charitable oganizations in accordance with endowment agreements that govern the distribution of the underlying funds. The University also verifies that the grants given to the charitable organization are for the benefit of individual students for scholarships. Form 990, Schedule I, Part III: Student awards, grants and loans are awarded on basis of need. Scholarships are awarded based upon need and academic or special achievements. X X 0 1 X X X 0 0 0 0 0 0 0 0 0 Dr Harold J Miller Trustee 167405 0 0 0 618 0 13830 0 11744 0 193597 0 0 0 Gregory Vetter-TreasJan-June Executive VP/Chief of Staff 172996 0 0 0 0 0 14473 0 20064 0 207533 0 0 0 Patrick O'Meara V.P. for Mission Advancemen 128825 0 0 0 20213 0 0 0 13059 0 162097 0 0 0 Part I, Line 1a The President is required to live in the President's House on campus. The President and Chairman Emeritus (who is also the former president) both receive various minor personal services for convenience such as automotive maintenance or minor housekeeping. These are nontaxable benefits and not reported as taxable compensation. Part I, Line 1b In 2009, the Board of Trustees voted that it was in the interests and convenience of the University to maintain president's housing on campus and therefore established a residence for the president. A Morton County North Dakota 456002226 2011-08-15 7500000 Campus-wide energy saving building improvements & campus renovations 0 0 0 A 2677734 7500000 35000 7465000 2013 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 Date Rebate Computation Performed Issuer Name: Morton County, North Dakota Date the Rebate Computation was Performed: 06/30/2013 Schedule K, Part II, Line 1: Bonds Retired - The 2011 Revenue Note matures in 2018. The amount on line 1 represents the amount of principal reduction of the underlying note payable to the financial institutions rather than actual retirement of bonds of the issue. United Printing Board member Joseph Hauer is the President of United Printing 104302 University of Mary has a business relationship with United Printing 0 J&L Development Board member Joseph Hauer is the owner of J&L Development 180000 University of Mary pays rent to J&L Development 0 X 9868 FMV X 13 858869 FMV X 1 25814 Appraisal X Piano 1 17000 FMV X Trailer/Trailer Wrap 2 13050 FMV 0 1 0 Part I, Line 33: Starion Bancorporation stock was received in satisfaction of a pledge made in prior years. Since the pledge was reported in a prior year, this stock donation is not included in the Statement of Revenue or Schedule B. MDU stock was received in satisfaction of a pledge made in prior years. Since the pledge was reported in a prior year, this stock donation is not included in the Statement of Revenue or Schedule B. Form 990, Part III, Line 1: It takes its tone from the commitment of the Sisters of Annunciation Monastery. These Sisters founded the University in 1959 and continue to sponsor it today. It is Christian, it is Catholic, and it is Benedictine. We cherish our Christian, Catholic, Benedictine identity; we welcome and serve persons of all faiths. We are faithfully Christian. As a Christian university, we strive to accomplish our mission in faithfulness to the Gospel of Jesus Christ. We regard each human person as created in the image and likeness of God, gifted with life and dignity. We seek to be agents of cultural renewal in our time and place, courageous advocates for justice and peace. Our Christian commitment is born from and sustained by the encounter of the Risen Lord, who came not to be served but to serve. As He humbly washed the feet of His disciples on the night before He died, so we seek to serve one another. We are faithfully Christian. We are joyfully Catholic. As a Catholic university, we joyfully draw our life from the heart of the Church, identifying with the ancient tradition which gave rise to the first universities in medieval Europe. This Catholic intellectual tradition proposes an integrated spiritual and philosophical approach to the most enduring questions of human life. Thus we seek to advance the vital dialogue between faith and reason, while acknowledging the proper autonomy of the arts, sciences, and professions. A university is a place for the free exchange of ideas, and so we warmly welcome students and faculty of many faiths and convictions. At the same time, our common discourse ever takes place in a spirit of authentic respect for Catholic teaching and practice. We acknowledge the Catholic faith as a path to moral integrity and personal holiness. We are joyfully Catholic. We are gratefully Benedictine. As a Benedictine university, we remember with gratitude the Benedictine Sisters who came to Dakota Territory in 1878, bringing ministries of teaching and healing. This community of Sisters would become our founders and sponsors and, through them, we share in the 1500-year-old heritage of the Benedictines. Inspired by lives of prayer, community, and service, Saint Benedict and his spiritual followers through the ages have been a stable source of tremendous good in the world: renewing the Church, preserving learning, cultivating wisdom, modeling humane virtues of balance and generosity. The life of our Sisters shapes our life. We are gratefully Benedictine. Form 990, Part VI, Section A, line 1 The President of the University shall be an ex officio member of the Board of Trustees. The President shall not vote on matters concerning or related to 1) the appointment of a successor, 2) the President's compensation, or 3) matters affecting the President's own interest, in accordance with Article X, Section 2, of the University's Bylaws. The President shall cease to be a trustee when no longer holding that position. Form 990, Part VI, Section A, line 1 Standing Committees: The corporation shall establish and maintain as standing committees a Trusteeship Committee, an Audit Committee, a Public Affairs and Mission Advancement Committee, and an Executive Committee. A. Trusteeship Committee: The Trusteeship Committee shall be appointed annually by the President of the Board (prioress). The committee shall consist of four (4) trustees, which includes the president of the university as an ex-officio member of the committee. Such trusteeship committee shall recommend to the corporate membership names and qualifications for consideration to fill any positions on the board of trustees. After approval by the corporate membership, the trusteeship committee submits to the board of trustees nominees for election to the board. In addition, the committee shall recommend to the board a slate of candidates for chair, vice chair, and secretary. A majority vote of the total board of trustees currently serving is required for election of a trustee or an officer. The committee shall develop and administer a program of orientation for newly appointed trustees. B. Executive Committee: The chair of the board of trustees, in consultation with the president of the board (prioress), the president of the university, and other trustees shall appoint the executive committee at the annual meeting. The executive committee shall consist of nine (9) trustees, to include the chair of the board, the president of the board (prioress), four additional members of the corporation and three additional trustees. Serving as the principal liaison to the board of trustees, the president of the university shall be present ex officio without a vote and not to be counted for a quorum. A quorum of the executive committee is a majority of the trustees serving on the executive committee. To constitute a valid quorum, the quorum must include four (4) members of the corporation. A quorum of the executive committee is required to transact business. If a quorum is not present at a meeting, a majority of those present may adjourn the meeting without further notice. The executive committee shall meet as often as necessary to conduct its business as determined by the chair and the president of the university. There shall be at least two (2) regular meetings of the executive committee annually. In collaboration with the president of the university, the duties of the executive committee shall include the following: -Making decisions that have been delegated by the full board -Taking action on emergency matters which cannot or should not be deferred to the board's next scheduled meeting -Performing initial assessment of the President of the University annually -Performing such duties as described in its statement of operation The Executive Committee shall act on behalf of the board between meetings except on the following matters: -Selection and appointment of the President of the University -Selection of trustees and officers -Adoption of the annual budget -Conferral of degrees -Exercise of those powers reserved by the members of the corporation as provided in Article V. Section 3 of the University's bylaws Other Committees: After consultation and recommendation of the Board of Trustees, the Chair of the Board of Trustees shall designate and appoint committees to facilitate the actions of the Board of Trustees, enabling it to function more efficiently and effectively. Each committee shall have, subject to the approval of the Board of Trustees, a statement of operation prescribing the purposes, goals and responsibilities of the committee. Other committees that currently exist are: -Investment Committee -Finance Committee -Enrollment Services Committee -Academic Affairs and Student Life Committee -Public Affairs and Mission Advancement Committee Form 990, Part VI, Section A, line 2 Family and Business Relationships - 1. Board Members Bill Clairmont and John Simmons have a business relationship. 2. Board Members Bill Daniel, Greg Vetter, and Tim Hennessy have a business relationship. Form 990, Part VI, Section A, line 6 Members - Membership of the corporation shall consist of those sisters serving in the sponsorship group as established from time to time by the monastic community known as the Benedictine Sisters of the Annunciation, BMV, who have made their perpetual monastic profession. Form 990, Part VI, Section A, line 7a Powers shared with Board of Trustees - The following reserved powers shall be exercised by the members of the corporation and the board of trustees. The power of the board to act on any of these matters is subject to the requirement that the members of the corporation shall approve such action prior to the submission of the matter to a vote of the board of trustees. A. To approve any person to be elected to serve on the board of trustees or to remove any trustee if this action is indicated. B. To approve a new candidate appointed to serve as president of the university. Form 990, Part VI, Section A, line 7b Powers Reserved to Corporation Members - Exercise of the following powers shall be reserved solely to corporation members to: A. Approve any change in the sponsorship, reserved powers or mission of the university as an institution founded on christian, catholic, and benedictine tradition. B. Approve the sale or encumbrance of all or substantially all of the assets or property of the corporation. C. Approve the merger, liquidation or dissolution of the corporation. D. Amend, alter or repeal the articles of incorporation or the bylaws of the corporation. E. Change the name of the corporation. Form 990, Part VI, Section B, line 11 Upon receipt of the draft Form 990, the organization will review the 990 and provide a public disclosure copy to the board for review. The board comments are provided to the organization and any resulting changes are included in the final Form 990. Form 990, Part VI, Section B, line 12c The board of directors completes a conflict of interest questionnaire each year. No member, trustee, officers or committee member shall be disqualified from holding any position by reason of any interest, but any conflict of interest must be disclosed to the board of trustees at the earliest practical time. A member, trustee, officer or committee member shall be considered to have a conflict of interest if such person (a) has an existing or potential financial or other interest which impairs or might reasonably appear to impair such person's independent unbiased judgment in the discharge of responsibilities to the corporation, or (b) is aware that an immediate family member or any organization in which such person, or an immediate family member, is an officer, director, employee, member, partner, trustee, or controlling stockholder has such existing or potential financial interests. A trustee does not have a conflict of interest in acting on a resolution fixing the compensation of any trustee, officer, employee, or agent of the corporation. No member, trustee or committee member shall vote on any matter under consideration in which such person has a conflict of interest, and shall not be counted as a part of the quorum for the vote on the matter. The minutes of such meeting shall reflect that a disclosure was made and that the person abstained from voting. Any member, trustee or committee member who is uncertain whether there is a conflict of interest in any matter may request the membership, the board or committee to determine whether a conflict of interest exists and resolve the question by majority vote. Form 990, Part VI, Section B, line 15a The president's salary is reviewed annually by the independent board. The University uses the Jaffe Salary Survey as well as CUPA Salary Reports (College and University Professional Association) to obtain comparable data from other midwestern universities. The information is documented in a letter noting that the board has accepted and approved the salary change. The top financial official's salary is currently reviewed and approved by the president annually. The same Jaffe Salary Survey and CUPA Salary Report is used for comparable data. The percentage increase is documented in an employment contract, but not in the board meeting minutes. Form 990, Part VI, Section C, line 19 The University provides its governing documents, conflict of interest policy and financial statements upon specific request. Part VII: The President, Monsignor James P. Shea, is required to live in a residence at the campus. The Board of Trustees, with his understanding and approval, has set his salary below market because he is a cleric. Form 990, Part XI, line 9: Actuarial Gains - Unitrust 114,733. Actuarial Losses - Annuities -290,163. Book/Tax Difference: Dakota Upreit 5,683. Book/Tax Difference: Starion -278. Book/Tax Difference: OneOK Partners 1,249. Book/Tax Difference: Buckeye Partners -1,688. Book/Tax Difference: Enterprise Products -1,423. Form 990, Part XI, Line 8: As a result of audit procedures, misstatements were identified relating to the improper recording of deposits held in custody for others and net assets. The University restated its previously issued financial statements to appropriately reflect the June 30, 2015 deposits held in custody for others and net assets at beginning of year. Benedictine Sisters of the Annunciation BMV 7520 University Drive Bismarck ND 58504 450261530 Religious Purposes ND 501(c)(3) Line 1 N/A 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0