2017-02-13T11:07:05-06:00 2016-06-30 420714325 RSM US LLP 201 FIRST ST SE SUITE 800 CEDAR RAPIDS IA 52401 990 2015-07-01 420686467 COE COLLEGE COEC 3193998643 BUSINESS OFFICE 1220 1ST AVE NE CEDAR RAPIDS IA 52402 MICHAEL L WHITE EXEC VP - ASST SECY/TREAS 3193998643 2017-02-09 1 CARLEY UMSTEAD P00982177 3192985333 2015 2021-01-29 14:40:06Z DAVID MCINALLY 1220 FIRST AVE NE CEDAR RAPIDS IA 52402 107954680 0 X WWW.COE.EDU X 1881 IA COE COLLEGE IS A PRIVATE, FOUR-YEAR CO-EDUCATIONAL LIBERAL ARTS COLLEGE 35 34 1585 624 5556 0 7295737 8434379 57516896 60402714 2074536 1807842 -11606 -4923 66875563 70640012 28695315 30827246 0 0 21550515 22681276 14800 9565 1380233 16476505 17388703 66737135 70906790 138428 -266778 173128894 174490781 40209114 45014945 132919780 129475836 X SEE SCHEDULE O 0 0 53666545 30827246 51037674 EDUCATIONAL - COE COLLEGE IS A SELECTIVE, PRIVATE AND NATIONALLY RECOGNIZED FOUR-YEAR COEDUCATIONAL LIBERAL ARTS INSTITUTION, PROVIDING SUPERIOR EDUCATIONAL EXPERIENCES FOR STUDENTS SINCE 1851. TO EACH OF ITS MORE THAN 1,400 STUDENTS, THE INSTITUTION OFFERS THE ADVANTAGES OF A SMALL COLLEGE THAT IS DEDICATED TO ACADEMIC EXCELLENCE. STUDENT-FACULTY RATIOS ARE LOW AT 11 TO 1, THE AVERAGE CLASS SIZE IS 16, AND 95% OF FULL-TIME FACULTY MEMBERS HAVE EARNED THE HIGHEST DEGREE IN THEIR RESPECTIVE FIELDS. STUDENTS CAN THUS RECEIVE A LEVEL OF PERSONALIZED ATTENTION THAT HAS ALMOST DISAPPEARED ELSEWHERE IN MODERN ACADEMIA. THE CAMPUS PRESENTS AN INVITING ENVIRONMENT TO STUDENTS BOTH INSIDE AND OUTSIDE THE CLASSROOM, OFFERING A VARIETY OF OPPORTUNITIES FOR GROWTH AND PERSONAL ENRICHMENT IN THE MANY INTELLECTUAL, ATHLETIC AND SERVICE PURSUITS AVAILABLE. COE IS RECOGNIZED AS ONE OF THE FINEST LIBERAL ARTS COLLEGES IN THE COUNTRY BY A VARIETY OF WIDELY RESPECTED COLLEGE RANKING PUBLICATIONS THAT WEIGH ACADEMIC QUALITY AND STUDENT SELECTIVITY. COE COLLEGE ENJOYS BOTH AN EXCELLENT REGIONAL REPUTATION AND NATIONAL RECOGNITION FOR THE STRENGTH OF ITS PROGRAMS. THROUGH CAREFUL PLANNING, SELECTIVE USE OF RESOURCES, AND THE EFFORTS OF A DEDICATED FACULTY AND STAFF, COE HAS NOT ONLY MAINTAINED BUT STRENGTHENED ITS POSITION AMONG LIBERAL ARTS COLLEGES IN THE MIDWEST. 3573768 9365040 AUXILIARY ENTERPRISES - THIS INCLUDES THE COLLEGE'S RESIDENCE HALLS, COLLEGE RENTAL HOUSING, FOOD SERVICES, THE STUDENT UNION AND SUMMER CONFERENCES. WITH MORE THAN 1,200 STUDENTS IN CAMPUS HOUSING, RESIDENTIAL LIFE IS CENTRAL TO THE COE EXPERIENCE FOR STUDENTS. IN ADDITION, THE COLLEGE DERIVES SOME REVENUE FROM HOSTING SUMMER CONFERENCES IN ITS FACILITIES. 7586270 PROGRAM SERVICES - THIS INCLUDES EXPENDITURES FOR THE OPERATION AND MAINTENANCE OF COLLEGE FACILITIES. WITH 37 BUILDINGS ON MORE THAN 60 ACRES, MAINTENANCE OF COLLEGE FACILITIES IS AN IMPORTANT CONSIDERATION FOR THE COLLEGE. SIGNIFICANT CAMPUS IMPROVEMENTS OVER THE PAST TWO DECADES HAVE BEEN COMPLETED SO THAT STUDENTS AND FACULTY MAY ENJOY AN ENVIRONMENT CONDUCIVE TO LEARNING, WITH THE FACILITIES TO SUPPORT THE MISSION OF THE COLLEGE. 64826583 1 1 0 0 0 0 0 1 0 1 1 1 0 1 1 1 0 1 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 0 1 216 0 1 1585 1 1 1 0 0 0 0 0 0 0 0 0 X 35 34 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA MD MI MN NH NY X MICHAEL L WHITE EXEC VP - ASST SEC 3193998643 COE COLLEGE-1220 1ST AVE NE CEDAR RAPIDS IA 52402 X DAVID MCINALLY TRUSTEE - PRESIDENT 40.00 X X 304983 0 45757 WALE ADEOSUN TRUSTEE 1.00 X 0 0 0 R DARRYL BANKS TRUSTEE 1.00 X 0 0 0 KIM BENJAMIN TRUSTEE 1.00 X 0 0 0 PETER BIRKEY TRUSTEE 1.00 X 0 0 0 J DAVID CARSON TRUSTEE - CHAIRMAN 1.00 X X 0 0 0 STEVEN CAVES TRUSTEE 1.00 X 0 0 0 ROBERT CHIUSANO TRUSTEE 1.00 X 0 0 0 NIKKI CLAUSSEN TRUSTEE 1.00 X 0 0 0 TOM ELLIS TRUSTEE - SECRETARY 1.00 X X 0 0 0 SAM FREITAG TRUSTEE 1.00 X 0 0 0 CHRIS GALLOWAY TRUSTEE 1.00 X 0 0 0 DAVID GEHRING TRUSTEE 1.00 X 0 0 0 KEN GOLDER TRUSTEE - VICE CHAIR 1.00 X X 0 0 0 TONY GOLOBIC TRUSTEE 1.00 X 0 0 0 DENNIS GREENSPON TRUSTEE 1.00 X 0 0 0 KEITH HALL TRUSTEE (PART-YEAR) 1.00 X 0 0 0 GENE HENDERSON TRUSTEE 1.00 X 0 0 0 KENT HERINK TRUSTEE 1.00 X 0 0 0 SHIRLEY HUGHES TRUSTEE 1.00 X 0 0 0 WILLIAM JOHNSON TRUSTEE (PART-YEAR) 1.00 X 0 0 0 STEVE KENNEDY TRUSTEE 1.00 X 0 0 0 STEVEN KLINE TRUSTEE 1.00 X 0 0 0 MARY JEANNE KROB TRUSTEE 1.00 X 0 0 0 JULIE MCLEAN TRUSTEE 1.00 X 0 0 0 DAVID MEHAFFY TRUSTEE 1.00 X 0 0 0 CURT MENEFEE TRUSTEE 1.00 X 0 0 0 PAUL MEYER TRUSTEE - TREASURER 1.00 X X 0 0 0 LIZA OVROM TRUSTEE 1.00 X 0 0 0 CHUCK PETERS TRUSTEE 1.00 X 0 0 0 SIGI REYNOLDS TRUSTEE 1.00 X 0 0 0 BRETT RULE TRUSTEE 1.00 X 0 0 0 LARRY SHRYOCK TRUSTEE 1.00 X 0 0 0 CRAIG STRUVE TRUSTEE 1.00 X 0 0 0 LORI STURDEVANT TRUSTEE - 2ND VICE CHAIR 1.00 X X 0 0 0 CARSON VEACH TRUSTEE 1.00 X 0 0 0 ED WALSH TRUSTEE 1.00 X 0 0 0 DAVID HAYES VP ADVANCEMENT - ASST SECY 40.00 X 152349 0 27071 KIM PRIBYL ASST TO PRESIDENT - ASST SECY 40.00 X 40496 0 7047 MICHAEL WHITE EXEC VP - ASST SECY & ASST TREAS 40.00 X 184421 0 31507 MARIE BAEHR TIMKO VP ACADEMIC AFFAIRS/DEAN 40.00 X 153973 0 75187 ERIK ALBINSON VP STUDENT AFFAIRS 40.00 X 112271 0 15667 MARIO AFFATIGATO PROFESSOR OF PHYSICS 40.00 X 136744 0 14786 WENDY DUNN PROF/DIR OF INST PLANNING 40.00 X 127485 0 30203 STEVEN FELLER PROFESSOR OF PHYSICS 40.00 X 151160 0 26616 JULIE STAKER ASSOCIATE VP & DEAN OF ADM 40.00 X 114616 0 8586 MICKEY WU PROFESSOR OF BUSINESS ADMIN & ECONOMICS 40.00 X 105275 0 14952 1583773 0 297379 13 0 1 0 SODEXO INC 9801 WASHINGTON BLVD GAITHERSBURG MD 20878 FOOD SERVICE 2723210 OLMSTEAD CONSTRUCTION INC 651 58TH AVE CT SW CEDAR RAPIDS IA 52404 CONSTRUCTION 1196779 CULVER'S LAWN & LANDSCAPNG 1682 DUBUQUE RD MARION IA 52302 LAWN SERVICE 248093 SECURITAS SECURITY SERVICES 160 SOUTHGATE IOWA CITY IA 52240 SECURITY SERVICE 209832 ROYALL & COMPANY 1920 E PARHAM RD RICHMOND VA 23228 MARKETING 201981 28 27406 794677 7612296 1060269 8434379 STUDENT TUITION/FEES 611600 50550715 50550715 AUXILIARY ENTERPRISES 611600 9365040 9365040 MISC FEES & CHARGE 611710 486959 486959 60402714 1667119 1667119 37432078 37291355 140723 140723 140723 12834 27406 23313 -10479 -10479 PARTNERSHIP INCOME (LOSS) 900099 5556 5556 5556 70640012 60402714 5556 1797363 30827246 30827246 962343 746601 215742 15000 15000 17237263 15396338 1284096 556829 960114 898223 47777 14114 2264584 1491274 627744 145566 1241972 1191052 31786 19134 30036 30036 99390 99390 9565 9565 68645 68645 2656504 2478471 178033 330915 210509 113179 7227 902017 586322 179508 136187 441725 269488 156237 16000 2972254 2964632 7622 739151 579521 68977 90653 823302 823302 3059667 3059667 393137 211606 181531 INSTRUCTIONAL EXPENSE 2296784 2166775 130009 RECRUITING 600231 600231 EQUIP, RENTAL & MAINT 338900 330132 8768 SMALL EQUIPMENT 266446 231521 32501 2424 1369599 510273 822543 36783 70906790 64826583 4699974 1380233 X 4958054 6570309 1218076 2480755 1052475 588058 559283 904638 102974749 39752207 60257976 63222542 61888144 57583295 9393091 9673976 7344206 7573103 26457589 25894105 173128894 174490781 3973465 5417421 259575 162005 20005881 21068115 2291969 675000 13678224 17692404 40209114 45014945 X 32199728 24621654 8876369 10896776 91843683 93957406 132919780 129475836 173128894 174490781 X -266778 -1401081 -1776085 X X 0 1 X 1 1 1 X 12712765 9710962 5018363 7295737 8434379 43172206 12712765 9710962 5018363 7295737 8434379 43172206 3120027 40052179 3622903 3989089 3380613 2605763 1667119 15265487 58437693 274498044 0.68540 0.63310 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 8901483 3940000 X X X X X EDUCATIONAL 1 87248399 2472911 80765 1446748 5147488 83207839 91877143 1303726 -113336 1448446 4370688 87248399 87313799 2065554 8219113 2739756 2981567 91877143 83356396 1699631 7224931 1416797 3550362 87313799 76534551 4908284 2734108 1333107 -512560 83356396 0.00000 1.00000 0.00000 1 0 12257139 12257139 67789900 27123735 40666165 2262503 1961143 301360 12929694 10667329 2262365 7735513 7735513 63222542 ALTERNATIVE INVESTMENTS 1130931 F COLLATERIZED DEBT OBLIGATIONS 2309838 F PRIVATE EQUITY FUND 675461 F REAL ESTATE INVESTMENT TRUST 5557746 F 9673976 ACCRUED INTEREST RECEIVABLE 588606 ARTWORK 12841483 CASH VALUE OF LIFE INSURANCE 936628 REAL EST, LAND & MNRL RIGHTS 1675002 TRUST AGREEMENTS 9852386 25894105 DUE TO US GOVT-PERKINS LOAN 5473798 ANNUITY PAYABLE 1335130 DEPOSITS HELD ON BEHALF OTHERS 327419 LIABILITY TO LIFE INCOME BENEFICIARIES 1307234 ACCRUED PENSION COST 1847064 ACCRUED LOSS ON INTEREST RATE SWAPS 1417388 OTHER LIABILITY 54342 STATE OF IOWA ENERGY LOAN 3176857 LINE OF CREDIT 2753172 17692404 X 38343040 -1401081 -1401081 39744121 68645 30827246 30895891 70640012 40010899 0 40010899 68645 30827246 30895891 70906790 PART III, LINE 4: THE COMMITTEE ON THE PERMANENT COLLECTION OF ART SHALL DETERMINE IF THE PROPOSED GIFT OF ARTWORK IS SUITABLE FOR ACCEPTANCE BY CONSIDERING WHETHER THE FOLLOWING CONDITIONS HAVE BEEN MET: THE ARTWORK FURTHERS THE MISSION OF COE COLLEGE. THE ARTWORK IS COMPATIBLE WITH OR COMPLEMENTARY TO THE CURRENT ART COLLECTION. THE DONOR HAS VALID OWNERSHIP OF THE ARTWORK, AND IS FREE TO CONVEY THE WORK. THERE ARE NO UNTENABLE RESTRICTIONS, RESERVATIONS OR LIMITATIONS PLACED ON THE ARTWORK OR ITS DISPLAY. THE COSTS FOR RESTORATION, MAINTENANCE AND INSURANCE ARE REASONABLE AND APPROPRIATE. THE COMMITTEE ON THE PERMANENT COLLECTION OF ART PROVIDES THE PRESIDENT WITH A RECOMMENDATION FOR ACCEPTANCE OR REFUSAL. PART V, LINE 4: THE COE COLLEGE ENDOWMENT FUND HAS BEEN ESTABLISHED BY THE BOARD OF TRUSTEES AS AN INVESTMENT PORTFOLIO FOR THE ASSETS CONTRIBUTED BY DONORS FOR THE CONTINUING SUPPORT OF THE COLLEGE AND OTHER DONOR DESIGNATED PURPOSES. THE DEVELOPMENT AND EXPANSION OF THIS FUND IS AN IMPORTANT PART OF THE COLLEGE'S OBJECTIVES FOR MAINTAINING QUALITY IN FACULTY, STUDENTS AND FACILITIES. THE FUND IS COMPRISED OF PERMANENT AND TEMPORARILY RESTRICTED ENDOWMENT ASSETS. ALL ENDOWMENT INCOME SUPPORTS THE COLLEGE OPERATIONS AND PROVIDES SCHOLARSHIPS FOR STUDENTS. PART X, LINE 2: THE COLLEGE IS RECOGNIZED AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE COLLEGE MAY BE SUBJECT TO FEDERAL AND STATE INCOME TAXES ON ANY NET INCOME FROM UNRELATED BUSINESS ACTIVITIES. THE COLLEGE FILES A FORM 990 (RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX) ANNUALLY AND UNRELATED BUSINESS INCOME (UBI) IS REPORTED ON FORM 990-T, AS APPROPRIATE. MANAGEMENT HAS EVALUATED THEIR MATERIAL TAX POSITIONS, WHICH INCLUDE SUCH MATTERS AS THE TAX EXEMPT STATUS AND VARIOUS POSITIONS RELATIVE TO POTENTIAL SOURCES OF UBI. AS OF JUNE 30, 2016 AND 2015, THERE WERE NO UNCERTAIN TAX BENEFITS IDENTIFIED AND RECORDED AS A LIABLITY. FORMS 990 AND 990-T FILED BY THE COLLEGE ARE NO LONGER SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR THE FISCAL YEARS ENDED JUNE 30, 2012 AND PRIOR. PART XI, LINE 4B - OTHER ADJUSTMENTS: COLLEGE AWARDED FINANCIAL AID 30,827,246. PART XII, LINE 4B - OTHER ADJUSTMENTS: COLLEGE AWARDED FINANCIAL AID 30,827,246. SCHEDULE D, PART V, LINE 1A, COLUMN (E): DURING THE TAX YEAR THE COLLEGE DETERMINED THAT SEVERAL PIECES OF ARTWORK FROM A GIFT IN 1976 WERE IMPROPERLY CLASSIFIED AS ARTWORK HELD FOR INVESTMENT AND UNRESTRICTED NET ASSETS AND SHOULD HAVE BEEN RECORDED AS PART OF THE ARTWORK COLLECTION AND PERMANENTLY RESTRICTED NET ASSETS. IN ACCORDANCE WITH GAAP, THIS MISSTATEMENT REQUIRES THE VALUE OF THE ARTWORK TO BE ADJUSTED FROM CURRENT FAIR VALUE TO FAIR VALUE AT THE TIME OF THE GIFT WITH CONSIDERATION OF CHANGES IN ACCOUNTING STANDARDS IN SUBSEQUENT YEARS. BEGINNING ENDOWMENT BALANCE ON LINE 1A, COLUMN (E) WAS ADJUSTED TO REFLECT THE EFFECT OF THE MISSTATEMENT. 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 RACIALLY NONDISCRIMINATORY POLICY IS PROVIDED THROUGH NEWSPAPER AND BROADCAST MEDIA SOLICITATION. IN ADDITION, IT IS PROVIDED IN ALL ADMISSION PUBLICATIONS, COLLEGE WEBSITE AND THE COLLEGE HANDBOOK. SCHEDULE E, PART I, LINE 6 COE COLLEGE RECEIVES FEDERAL AND STATE FINANCIAL AID AND GRANTS. EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICE STUDY ABROAD 82406 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICE STUDY ABROAD 168408 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 PROGRAM SERVICE STUDY ABROAD 34888 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 2344000 0 0 0 0 0 0 2629702 0 2629702 1 0 0 1 1 0 GOLF EVENT 31054 18220 12834 560 18744 4009 ALUMNI AUCTION 9186 9186 40240 27406 12834 560 18744 4009 23313 -10479 1 ENDOWED PRIZES 62 34351 N/A N/A GIFT PRIZES 10 3400 N/A N/A GIFT SCHOLARSHIPS 90 177084 N/A N/A ENDOWED SCHOLARSHIPS 344 1446746 N/A N/A GENERAL SCHOLARSHIPS 1361 27542672 N/A N/A OTHER GRANTS 305 1622993 N/A N/A PART I, LINE 2: COE COLLEGE RECEIVES VARIOUS FEDERAL GRANTS FROM NSF, DEPT OF EDUCATION AND OTHER AGENCIES OR BRANCHES OF THE US GOVERNMENT. SEPARATE ACCOUNTS ARE USED FOR EACH GRANT TO MONITOR RECEIPTS AND DISBURSEMENTS. THE COLLEGE FOLLOWS APPROPRIATE ACCOUNTING AND INTERNAL CONTROL PROCEDURES. ALL REQUIRED FINANCIAL REPORTING TO THE GRANT PROVIDER ARE COMPLETED TIMELY AND AUDITS BY AN INDEPENDENT CPA FIRM ARE DONE WHEN REQUIRED. THE COLLEGE ANNUALLY FILES AN A-133. DISTRIBUTIONS TO STUDENTS ARE MADE ACCORDING TO GRANT REQUIREMENTS. X X 1 1 X X X 0 1 0 0 0 0 0 0 0 DAVID MCINALLY TRUSTEE - PRESIDENT 287188 0 0 0 17795 0 18550 0 27207 0 350740 0 0 0 DAVID HAYES VP ADVANCEMENT - ASST SECY 139553 0 0 0 12796 0 10277 0 16794 0 179420 0 0 0 MICHAEL WHITE EXEC VP - ASST SECY & ASST TREAS 180455 0 0 0 3966 0 13145 0 18362 0 215928 0 0 0 MARIE BAEHR TIMKO VP ACADEMIC AFFAIRS/DEAN 153102 0 0 0 871 0 11202 0 63985 0 229160 0 0 0 MARIO AFFATIGATO PROFESSOR OF PHYSICS 97004 0 0 0 39740 0 6875 0 7911 0 151530 0 0 0 WENDY DUNN PROF/DIR OF INST PLANNING 122228 0 0 0 5257 0 9266 0 20937 0 157688 0 0 0 STEVEN FELLER PROFESSOR OF PHYSICS 117439 0 0 0 33721 0 8721 0 17895 0 177776 0 0 0 PART I, LINE 1A EMPLOYMENT AGREEMENT STATES COE COLLEGE REQUIRES THAT ITS PRESIDENT LIVE IN A PRESIDENT'S HOUSE OR MANSE OWNED BY THE COLLEGE BECAUSE OF ITS REQUIREMENT THAT THE PRESIDENT CONDUCT SIGNIFICANT BUSINESS ACTIVITIES AND REGULARLY HOST COLLEGE RELATED EVENTS AND ENTERTAINMENT ON COLLEGE PROPERTY. THE PRESIDENT IS REQUIRED TO MAINTAIN AN OFFICE AT THE MANSE IN ORDER FOR HIM TO BE AVAILABLE TO ATTEND TO THE RESPONSIBILITIES OF HIS OFFICE AND THE BUSINESS OF THE COLLEGE AT ALL TIMES, AS IT IS NOT PRACTICAL FOR HIM TO DISCHARGE HIS DUTIES AS PRESIDENT SOLELY FROM HIS OFFICE ON THE CAMPUS, BECAUSE HIS RESPONSIBILITIES OFTEN REQUIRE THAT HE WORK OUTSIDE NORMAL BUSINESS HOURS AND THAT HE NEEDS TO BE ABLE TO ADDRESS ANY COLLEGE RELATED EMERGENCIES THAT MAY ARISE OUTSIDE OF NORMAL BUSINESS HOURS. IN ADDITION, THE SPACE AND OTHER REQUIREMENTS ASSOCIATED WITH THE CONDUCT OF LARGE STUDENT AND ALUMNI EVENTS AND OTHER FUNCTIONS FOR FRIENDS OF THE COLLEGE REQUIRE A RESIDENCE OF THE SIZE AND LOCATION OF THE MANSE. THE RESIDENCE LOCATED AT 370 34TH STREET SE, CEDAR RAPIDS, IOWA, WHICH IS OWNED BY THE COLLEGE, IS DESIGNATED THE OFFICIAL COLLEGE MANOR. COUNTRY CLUB DUES ARE INCLUDED IN TAXABLE INCOME ON W-2S. PART I, LINE 4B THE ORGANIZATION MAINTAINS NON-QUALIFIED DEFERRED COMPENSATION PLANS UNDER SECTION 457(F) OF THE INTERNAL REVENUE CODE. CONTRIBUTIONS DURING THE YEAR WERE $7,000 TO THE PLAN FOR DAVID MCINALLY, PRESIDENT. THERE WERE NO DISTRIBUTIONS FROM THIS PLAN DURING THE YEAR. CONTRIBUTIONS DURING THE YEAR WERE $22,500 TO THE PLAN FOR MICHAEL WHITE, EXECUTIVE VICE PRESIDENT. A PORTION OF THIS CONTRIBUTION IS FOR THE BENEFIT OF THE COLLEGE. A IOWA FINANCE AUTHORITY 521699886 2016-06-28 41833715 SEE PART VI 0 0 0 A 21227715 100000 21127715 1 0 0 1 A 0 0 1 1 0 0.00960 0.00000 0.00960 0 0 1 A 0 1 1 0 1 1 SEE PART VI 0 0 0 0 1 A 1 PART I, COLUMN (F) REFUND PRIOR ISSUES (06/08/07), (07/22/09), (08/05/11), (05/30/12), (04/17/16), CONSTRUCTION/RENOVATION. PART II, LINE 3 THE TOTAL PROCEEDS DO NOT AGREE TO THE ISSUE PRICE IN PART I, COLUMN (E) AS THIS DEBT WAS ISSUED ON A DRAW-DOWN BASIS AND THE TOTAL PRINCIPAL AVAILABLE HAS NOT YET BEEN DRAWN. PART IV, LINES 4B AND 4C U.S. BANK, N.A. 9.3 YEARS U.S. BANK, N.A. 9.9 YEARS JANICE MCINALLY SPOUSE OF DAVID MCINALLY, TRUSTEE/PRESIDENT 15000 JANICE MCINALLY RECEIVED COMPENSATION FROM THE COLLEGE AS AN EMPLOYEE. 0 X 2 13250 APPRAISAL X 49 1040838 STOCK EXCHANGE X AUCTION ITEMS 34 6181 ACTUAL 0 0 1 0 PART I, COLUMN (B): COE COLLEGE IS REPORTING THE NUMBER OF CONTRIBUTIONS. FORM 990, PAGE 2, PART III ORGANIZATION MISSION: IT IS THE MISSION OF COE COLLEGE TO PROVIDE STUDENTS AN EDUCATION OF SUPERIOR QUALITY THAT AIMS AT PREPARING THEM FOR LIFE FOLLOWING GRADUATION. OUR REASON TO EXIST AS AN INSTITUTION IS TO READY STUDENTS INTELLECTUALLY, PROFESSIONALLY, AND SOCIALLY TO LEAD PRODUCTIVE AND SATISFYING LIVES IN THE GLOBAL SOCIETY OF THE 21ST CENTURY. AS SUCH, OUR SUCCESS AS A COLLEGE IS MEASURED ACCORDING TO THE SUCCESS OF OUR GRADUATES. WE BELIEVE THAT A LIBERAL ARTS EDUCATION IS THE BEST PREPARATION FOR LIFE. WE BELIEVE THAT SUCH AN EDUCATION ALLOWS STUDENTS TO DISCOVER WHAT THEIR REAL TALENTS AND INTERESTS ARE, AND THAT IT DEVELOPS IN THEM THE SKILLS, ABILITIES, AND HABITS OF MIND THAT WILL MAKE POSSIBLE A SUCCESSFUL CAREER IN ANY FIELD OF ENDEAVOR, INCLUDING ONES THAT DO NOT YET EXIST. INDEED, WE BELIEVE THAT WHAT DEFINES A LIBERAL ARTS EDUCATION IS ITS FOCUS ON CULTIVATING IN STUDENTS CERTAIN FUNDAMENTAL ABILITIES: THE ABILITY TO THINK LOGICALLY AND ANALYTICALLY; THE ABILITY TO COMMUNICATE CLEARLY, BOTH IN WRITING AND SPEAKING; THE ABILITY TO USE EFFECTIVELY COMPUTER TECHNOLOGY; THE ABILITY TO WORK PRODUCTIVELY AS A MEMBER OF A GROUP SEEKING TO ACHIEVE A COMMON OBJECTIVE; THE ABILITY TO MAKE INFORMED JUDGMENTS, WHETHER IN THE REALM OF ETHICAL BEHAVIOR OF IN THAT OF AESTHETIC APPRECIATION; THE ABILITY TO FOSTER AND SUSTAIN AN ATTITUDE OF INTELLECTUAL CURIOSITY AND CREATIVITY; AND THE ABILITY TO RECOGNIZE AND HONOR TRUE EXCELLENCE WHEN FOUND IN ANY FORM OR CONTEXT. FURTHERMORE,WE BELIEVE THAT IT IS IMPORTANT FOR A LIBERAL ARTS EDUCATION TO CULTIVATE IN STUDENTS A DESIRE TO UNDERSTAND, A CAPACITY FOR TOLERANCE, AND AN ABILITY TO APPRECIATE THE ETHNIC AND CULTURAL DIVERSITY THAT MAKE UP HUMAN KIND. IT IS THE MISSION OF THE COLLEGE TO DEVELOP IN STUDENTS THESE ABILITIES AND ATTITUDES, AND IN SO DOING TO PROVIDE THEM AN EDUCATION THAT DIRECTS THEM TOWARD A MEANINGFUL AND SUCCESSFUL LIFE. COE'S ACADEMIC PROGRAM REFLECTS A COMMITMENT TO DEVELOPING THESE ABILITIES BY ITS INSISTENCE THAT STUDENTS ACQUIRE CERTAIN EDUCATIONAL EXPERIENCES. WE REQUIRE THAT STUDENTS COMPLETE BOTH OUR GENERAL EDUCATION REQUIREMENTS, WHICH ENSURE BREADTH OF LEARNING, AND OUR REQUIREMENTS FOR A MAJOR; WHICH GUARANTEE DEPTH OF KNOWLEDGE IN A PARTICULAR FIELD. IN ADDITION, AS PART OF EACH STUDENT'S EDUCATION, A SERIES OF INTENSIVE WRITING EXPERIENCES, SPREAD ACROSS THE FOUR YEARS OF STUDY, IS REQUIRED. BEYOND THESE REQUIREMENTS, STUDENTS ARE ENCOURAGED TO BEGIN PLANNING FOR THEIR LIVES AFTER COLLEGE EARLY ON IN THEIR UNDERGRADUATE CAREERS, AND, THROUGH CAREFUL ADVISING, THEY ARE GIVEN GUIDANCE AND DIRECTION IN THIS ENDEAVOR. INDEED, THE DEFINING FEATURE OF A COE EDUCATION IS THE REQUIREMENT THAT EVERY STUDENT PLAN AND PARTICIPATE IN ONE OF THE FOLLOWING: A SIGNIFICANT EXPERIENTIAL PROJECT, SUCH AS AN INTERNSHIP; A MAJOR SCHOLARLY UNDERTAKING; OR STUDY ABROAD. THESE EXPERIENCES WILL OFTEN, THOUGH NOT INVARIABLY, OCCUR DURING THE JUNIOR YEAR. THE HALLMARK OF A COE EDUCATION IS OUR ATTENTION TO EACH STUDENT AS AN INDIVIDUAL. IT IS ALSO IMPORTANT THAT THE COLLEGE ENVIRONMENT AT COE REFLECTS OUR COMMITMENT TO A DIVERSE STUDENT BODY AND OVERALL COLLEGE COMMUNITY. WE BELIEVE THAT THROUGH LISTENING CAREFULLY TO EACH STUDENT AS HIS OR HER INTERESTS AND UNIQUE TALENTS ARE FORMED, AND THROUGH TAILORING AN ACADEMIC PROGRAM TO SUIT EACH STUDENT'S FUTURE, WE HELP THAT STUDENT DEVELOP ABILITIES THAT PROVIDE THE BEST PREPARATION FOR LIFE. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE OF THE BOARD AS BEEN GIVEN AUTHORIZATION BY THE BOARD OF TRUSTEES TO ACT ON SUCH MATTERS AS SETTING COMPREHENSIVE FEES, AUTHORIZING PURCHASES AND ACQUISITIONS OF PROPERTY AND REVIEWING APPROPRIATE INSURANCE COVERAGE. ALL ITEMS THAT THE EXECUTIVE COMMITTEE HAS AUTHORIZED ARE SUBSEQUENTLY APPROVED BY CONSENT AGENDA OF THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 11 THE COLLEGE'S BUDGET AND AUDIT SUBCOMMITTEE OF THE BOARD OF TRUSTEES CONDUCTS A THOROUGH REVIEW OF FORM 990'S FILED BY THE COLLEGE PRIOR TO BEING FILED WITH THE IRS. THE SUBCOMMITTEE RECEIVES THE RETURNS FROM THE PAID PREPARER, RSM US, LLP THE SUBCOMMITTEE AND A REPRESENTATIVE FROM RSM REVIEW THE RETURNS TOGETHER. ALL MEMBERS OF THE BOARD OF TRUSTEES ARE ADVISED OF THE REVIEW OF THE FORM 990S BY THE BUDGET AND AUDIT SUBCOMMITTEE. EACH MEMBER OF THE BOARD OF TRUSTEES RECEIVES AN EMAIL (1) PROVIDING THE TRUSTEE WITH ACCESS TO A COMPLETE COPY OF THE RETURNS THROUGH A WEBSITE ACCESSIBLE TO THE TRUSTEES AND (2) INFORMING EACH TRUSTEE THAT THE RETURNS ARE AVAILABLE FOR FURTHER REVIEW BY ANY BOARD MEMBER BY THE SPECIFIED DATE, AFTER WHICH THE RETURNS WILL BE FILED. FORM 990, PART VI, SECTION B, LINE 12C THE COLLEGE REQUIRES ALL TRUSTEES, OFFICERS, KEY EMPLOYEES AND SUBSTANTIAL CONTRIBUTORS TO ANNUALLY COMPLETE THE CONFLICT OF INTEREST QUESTIONNAIRE CONCERNING TRANSACTIONS WITH COE COLLEGE. THE EXECUTIVE VICE PRESIDENT FOR THE COLLEGE RECEIVES COMPLETED QUESTIONNAIRES AND REVIEWS AND SUBMITS COMMENTS AND FINDINGS TO THE PRESIDENT OF THE COLLEGE AND THE CHAIRMAN OF THE BOARD OF TRUSTEES. THE CHAIRMAN OF THE BOARD THEN REVIEWS AND INFORMS THE FULL BOARD OF ANY ISSUES OR ACTIONS REQUIRED INCLUDING MONITORING WITH AN OVERSIGHT COMMITTEE IF NECESSARY. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE PRESIDENT IS REVIEWED BY A BOARD OF TRUSTEES AD HOC COMMITTEE. THE COMMITTEE CONSIDERS THE PRESIDENT ON HIS MERITS, LENGTH OF SERVICE AND JOB RESPONSIBILITIES. THE PRESIDENT'S COMPENSATION IS THEN COMPARED TO SIMILAR POSITIONS AT OTHER COLLEGES USING SURVEYS AND BENCHMARKS FROM THE ACM (ASSOCIATED COLLEGES OF THE MIDWEST),IPCUA (IOWA PRIVATE COLLEGES AND UNIVERSITIES ASSOCIATION) AND OTHER IDENTIFIED COMPARISON GROUPS. THE COMMITTEE THEN REPORTS TO THE BOARD OF TRUSTEES THEIR DUE DILIGENCE THAT WAS PERFORMED AND DOCUMENTS THE REVIEW. THE DOCUMENTATION REGARDING THE COMPENSATION REVIEW IS RETURNED TO THE COLLEGE'S LEGAL COUNSEL FOR SAFEKEEPING. THE BOARD OF TRUSTEES ROUTINELY EVALUATES THE COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES FOR EQUITY AND MAY MAKE ADJUSTMENTS BASED ON JOB RESPONSIBILITIES. THESE DECISIONS ARE MADE WITH DIRECT INVOLVEMENT OF SENIOR LEADERSHIP, INCLUDING THE PRESIDENT, AND INVOLVE REVIEW OF COMPARATIVE COMPENSATION DATA AND ARE FULLY DOCUMENTED WITH ANNUAL REVIEWS. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENT ARE NOT MADE AVAILABLE TO THE PUBLIC. THE COLLEGE DOES FILE VARIOUS REQUIRED REPORTS SUCH AS THE A-133 AND AUDITED FINANCIAL STATEMENTS WITH VARIOUS GOVERNMENTAL AGENCIES AND AUTHORITIES WHICH MAY THEN BECOME PUBLIC RECORD. THE IRS FORM 990 FILED BY COE COLLEGE IS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VII SALARY EXPLANATION: KIM PRIBYL'S COMPENSATION LISTED IS FOR POSITION AS EMPLOYEE OF COE COLLEGE NOT FOR POSITION AS ASSISTANT SECRETARY OF BOARD. SHE IS A 40 HOUR PER WEEK EMPLOYEE OF THE COLLEGE. MARIE BAEHR TIMKO'S OTHER COMPENSATION AMOUNT IN COLUMN (F) INCLUDES $46,105 OF TUITION WAIVER FOR DEPENDENT. FORM 990, PART X, COLUMN (A): DURING THE TAX YEAR THE COLLEGE DETERMINED THAT SEVERAL PIECES OF ARTWORK FROM A GIFT IN 1976 WERE IMPROPERLY CLASSIFIED AS ARTWORK HELD FOR INVESTMENT AND UNRESTRICTED NET ASSETS AND SHOULD HAVE BEEN RECORDED AS PART OF THE ARTWORK COLLECTION AND PERMANENTLY RESTRICTED NET ASSETS. IN ACCORDANCE WITH GAAP, THIS MISSTATEMENT REQUIRES THE VALUE OF THE ARTWORK TO BE ADJUSTED FROM CURRENT FAIR VALUE TO FAIR VALUE AT THE TIME OF THE GIFT WITH CONSIDERATION OF CHANGES IN ACCOUNTING STANDARDS IN SUBSEQUENT YEARS. THE BEGINNING OF YEAR BALANCE SHEET HAS BEEN RESTATED TO REFLECT THESE CHANGES. FORM 990, PART XI, LINE 9: ADJUSTMENT FOR FACULTY RETIREMENT PLAN 85,706. CHANGE IN FMV - INTEREST RATE SWAP -627,707. CHANGE IN ANNUITY & LIFE AGREEMENTS -245,317. PREPAYMENT PENALTY ON DEBT RESTRUCTING -988,767. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED SINCE PRIOR TAX YEARS. K RAYMOND CLARK CHARITABLE TRUST 1220 FIRST AVE NE CEDAR RAPIDS IA 52402 396787527 SUPPORTING TRUST IA 501(C)(3) 11A COE COLLEGE 1 K RAYMOND CLARK ATHLETIC FACILTIES TRUST 1220 FIRST AVE NE CEDAR RAPIDS IA 52402 396787027 SUPPORTING TRUST IA 501(C)(3) 11A COE COLLEGE 1 K RAYMOND CLARK ALUMNI CENTER TRUST 1220 FIRST AVE NE CEDAR RAPIDS IA 52402 396787028 SUPPORTING TRUST IA 501(C)(3) 11A COE COLLEGE 1 K RAYMOND CLARK RACQUET CENTER TRUST 1220 FIRST AVE NE CEDAR RAPIDS IA 52402 396787026 SUPPORTING TRUST IA 501(C)(3) 11A COE COLLEGE 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 K RAYMOND CLARK ALUMNI CENTER TRUST C 70801 ACTUAL K RAYMOND CLARK ALUMNI CENTER TRUST Q 41321 ACTUAL K RAYMOND CLARK ATHLETIC FACILITIES C 139621 ACTUAL K RAYMOND CLARK RACQUET CENTER TRUST C 91430 ACTUAL K RAYMOND CLARK RACQUET CENTER TRUST Q 267340 ACTUAL