2016-02-15T00:00:00-06:00 2015-06-30 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 225 S 6TH ST 2300 MINNEAPOLIS MN 55402 990 2014-07-01 420680372 UPPER IOWA UNIVERSITY UPPE 5634255384 PO BOX 1857 FAYETTE IA 52142 LESLIE T ANDERSON VP AND CFO 5634255384 2016-02-12 1 LAWRENCE H MOHR CPA P00447603 6128764500 2014 2016-08-17 19:52:53Z WILLIAM DUFFY PO BOX 1857 FAYETTE IA 52142 87280434 0 X WWW.UIU.EDU X 1856 IA UPPER IOWA UNIVERSITY PROVIDES STUDENT-CENTERED UNDERGRADUATE AND GRADUATE EDUCATIONAL PROGRAMS THROUGH FLEXIBLE, MULTIPLE DELIVERY SYSTEMS IN AN ENVIRONMENT IN WHICH DIVERSITY IS RESPECTED, ENCOURAGED AND NURTURED. 17 15 1828 15 30770 -6179 3907057 1677198 62667718 70932865 1710944 394652 286672 3268711 68572391 76273426 14544799 17875566 0 0 30906335 30373272 0 0 514015 23567100 24879185 69018234 73128023 -445843 3145403 131934478 136319704 77007214 78516466 54927264 57803238 UPPER IOWA UNIVERSITY PROVIDES STUDENT-CENTERED UNDERGRADUATE AND GRADUATE EDUCATIONAL PROGRAMS THROUGH FLEXIBLE, MULTIPLE DELIVERY SYSTEMS IN AN ENVIRONMENT IN WHICH DIVERSITY IS RESPECTED, ENCOURAGED AND NURTURED. 0 0 61373070 17875566 64756468 EDUCATIONAL, INSTRUCTIONAL AND SUPPORT SERVICES TO AN APPROXIMATED STUDENT ENROLLMENT OF 5,859 STUDENTS FOR THE 2014-2015 FISCAL YEAR. 7134947 6467509 AUXILIARY ENTERPRISES- RESIDENCE HALLS, FOOD SERVICES, LOGO STORE, ETC. FOR THE ABOVE STUDENTS. 68508017 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 1 1 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 0 0 0 1 73 0 1828 1 1 1 1 HK MY 0 0 0 1 1 0 0 0 0 X 17 15 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 0 0 IL X UPPER IOWA UNIVERSITY ATTN LESLIE ANDERSON CFO 5634255384 605 WASHINGTON STREET PO BOX 1857 FAYETTE IA 52142 RICHARD ANDRES TRUSTEE 2.00 X 0 0 0 BRUCE CAMPBELL TRUSTEE 2.00 X 0 0 0 PETER CLEMENS TRUSTEE 2.00 X 0 0 0 BILL COOK TRUSTEE 2.00 X 0 0 0 JOHN FALB TRUSTEE 2.00 X 0 0 0 BETTY DAVIS FIRTH TRUSTEE/ADJUNCT INSTRUCTOR 2.00 X 9826 0 0 ROBERT FIRTH TRUSTEE/ADJUNCT INSTRUCTOR 2.00 X 480 0 0 HOWARD FISCHER TRUSTEE 2.00 X 0 0 0 STEVE HARMS TRUSTEE 2.00 X 0 0 0 DR DARREL LANG TRUSTEE 2.00 X 0 0 0 DR MARGARET LAWSON TRUSTEE 2.00 X 0 0 0 SCOTT LEBIN TRUSTEE 2.00 X 0 0 0 DR HARRY MAUE TRUSTEE 2.00 X 0 0 0 DENNIS MURDOCK TRUSTEE 2.00 X 0 0 0 BERNARD PATTISON TRUSTEE 2.00 X 0 0 0 LOWELL SCHWAB TRUSTEE 2.00 X 0 0 0 BARRY SMITH TRUSTEE 2.00 X 0 0 0 WILLIAM DUFFY PRESIDENT 80.00 X 257966 0 12342 LESLIE ANDERSON CFO 75.00 X 78597 0 8352 DAVID MILLER DIRECTOR OF ATHLETICS 60.00 X 143361 0 24968 ANDREW WENTHE VP OF EXTERNAL AFFAIRS 60.00 X 128132 0 10141 KRISTOPHER BLANCHARD ASSOC PROF OF BUSINESS 60.00 X 123060 0 16925 KURT WOOD PROVOST 70.00 X 129954 0 7999 JANET SHEPHERD ASSOCIATE PROVOST 60.00 X 121038 0 4513 DR ALAN WALKER FORMER PRESIDENT 0.00 X 150557 0 8582 1142971 0 93822 13 1 1 0 ARAMARK SERVICES INC 27310 NETWORK PLACE CHICAGO IL 60673 FOOD SERVICE 3067979 FHEG PEACOCK CONNECTION STORE NO 308 MA 20126 3146 SOLUTI CHICAGO IL 60677 FOLLET CHARGES/BOOK CHARGES 1320250 FAIRPARK BUSINESS CENTER LLC 6737 W WASHINGTON STREET STE 2220 MILWAUKEE WI 53214 INSTALLMENT PAYMENTS FOR LEASE/PURCHASE 473210 WILLIAM C KNAPP LC 500 WESTOWN PKWY STE 400 WEST DES MOINES IA 50266 INSTALLMENT PAYMENTS FOR LEASE/PURCHASE 467027 JENZABAR INC PO BOX 55018 BOSTON MA 02205 MAINTENANCE/EQUIPMENT 435937 29 18300 404243 1254655 15476 1677198 TUITION AND FEES 611600 64450956 64450956 AUXILIARY SERVICES 611710 6467509 6467509 EDUCATIONAL ACTIVITIES 611710 14400 14400 70932865 404537 404537 21954 21182 772 772 -2437 3209 10946305 3289 10951036 8443 -4731 -5154 -9885 -9885 139784 18300 26347 113437 113437 INSURANCE PROCEEDS 611710 2768318 2768318 MISC INCOME 611710 101627 101627 INTERNATIONAL WORKSHOP 611710 86772 86772 197785 102713 33207 61865 3154502 76273426 71223977 30770 3341481 17875566 17875566 1521446 366119 1155327 23605723 21763582 1514336 327805 3527080 3315455 176354 35271 1719023 1617577 79024 22422 247244 247244 912773 912773 229453 229453 375037 375037 2710313 2698411 11902 4571048 4513814 57234 204128 204128 3648161 3647181 980 1291201 1235250 55951 311223 308773 2450 3564847 3564847 3113732 3113732 296147 296147 OTHER EXPENSES 1727067 1688343 38724 SCHOLARSHIP EXPENSES 1676811 1676811 73128023 68508017 4105991 514015 2572046 7671579 11985688 12718694 4641627 2899461 2043603 4421641 296893 312474 135811 96727 154123 94520 123628233 33383219 93134801 90245014 8998011 10921981 545200 627745 7426675 6309868 131934478 136319704 5061998 5732038 954545 818182 66331680 65487724 1000000 0 3658991 6478522 77007214 78516466 X 37110195 39973226 6343790 6431929 11473279 11398083 54927264 57803238 131934478 136319704 X 3145403 -53549 -215880 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 11470545 163026 145029 217010 11561590 10199704 170254 1255467 154880 11470545 9301511 61691 1106651 270149 10199704 9177478 294564 -163240 7291 9301511 7056930 603689 1639390 107839 14692 9177478 0.35210 0.46980 0.17810 1 0 2910784 2910784 98707071 19271754 79435317 8703660 4948156 3755504 10972987 8081970 2891017 2333731 1081339 1252392 90245014 STUDENT DEPOSITS AND DEFERRED TUITION 4750845 POST RETIREMENT BENEFIT PAYABLE 1159893 FEDERAL STUDENT LOAN FUNDS 293332 LEASE PAYABLE 274452 6478522 X 58107750 -53549 -168351 -221900 58329650 63527 17880249 17943776 76273426 55231776 47529 47529 55184247 63527 17880249 17943776 73128023 PART V, LINE 4: UIU SPENDS THE ACTUAL YIELD ON OUR UNRESTRICTED ENDOWMENT FUNDS FOR OPERATIONS AND FOR THE RESTRICTED PURPOSE FOR ALL RESTRICTED ENDOWMENT FUNDS. THE RESTRICTED ENDOWMENT FUNDS ARE PRIMARILY RESTRICTED FOR STUDENT SCHOLARSHIPS, BUT ALSO INCLUDE SMALL FUNDS FOR EQUIPMENT, PROFESSORSHIPS, LIBRARY BOOKS, ATHLETICS AND ECONOMIC DEVELOPMENT. PART X, LINE 2: THE UNIVERSITY FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE UNIVERSITY FOR UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2015 AND 2014. THE UNIVERSITY'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE TAX RETURNS FOR THE CURRENT YEAR AS WELL AS FISCAL YEARS 2012 THROUGH 2014 ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN BENEFICIAL INTEREST IN TRUSTS HELD BY OTHERS -215,880. DIRECT RENTAL EXPENSES 21,182. DIRECT FUNDRAISING EXPENSES 26,347. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS, TUITIONS AND GRANTS 17,875,566. GROSS CAR WASH REVENUES 4,683. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EXPENSES 26,347. DIRECT RENTAL EXPENSES 21,182. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS, TUITIONS AND GRANTS 17,875,566. GROSS CAR WASH REVENUES 4,683. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 NONDISCRIMINATION POLICIES ARE PUBLISHED IN THE STUDENT HANDBOOK. DURING ENROLLMENT EACH YEAR, STUDENTS SIGN AN AGREEMENT INDICATING THEIR RESPONSIBILITY FOR READING AND UNDERSTANDING THE CONTENTS OF THE HANDBOOK. SCHEDULE E, PART I, LINE 6 FINANCIAL AID WAS RECEIVED FROM THE GOVERNMENT IN THE FORM OF PELL GRANTS, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS (SEOG), COLLEGE WORK-STUDY (CWS) PROGRAMS, AND OTHER SMALL GOVERNMENT GRANTS. 1 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 2 60 PROGRAM SERVICES OPERATING HIGHER EDUCATION COURSES FOR THE PURPOSE OF DELIVERING BACHELOR DEGREE PROGRAMS. 3204368 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 385000 2 60 0 0 2 60 3589368 0 3589368 1 0 1 1 1 0 PRESIDENT'S BALL 136383 7535 128848 1000 13000 2000 UPPER IOWA ATHLETICS GOLF OUTING 21701 10765 10936 2260 4048 1938 2101 158084 18300 139784 3260 4048 14938 4101 26347 113437 1 CENTERS ASSISTANCE 1656 629483 ONLINE ASSISTANCE 713 1460022 SELF-PACED ASSISTANCE 84 60835 FAYETTE ASSISTANCE 1089 15725226 PART I, LINE 2: STUDENT ENROLLMENT IS MONITORED ON A REGULAR BASIS. AFTER VERIFICATION OF ENROLLMENT EACH TERM, FEDERAL FINANCIAL AID GRANTS ARE APPLIED TO THE STUDENTS' EDUCATIONAL COSTS PER FEDERAL REGULATIONS. STUDENT WITHDRAWALS ARE ALSO MONITORED AND GRANT FUNDS ARE ADJUSTED AND RETURNED AS NECESSARY. X X X 1 1 X X X X 1 0 0 0 0 0 0 0 0 WILLIAM DUFFY PRESIDENT 246062 0 0 0 11904 0 0 0 12342 0 270308 0 0 0 DAVID MILLER DIRECTOR OF ATHLETICS 134173 0 0 0 9188 0 0 0 24968 0 168329 0 0 0 DR ALAN WALKER FORMER PRESIDENT 150557 0 0 0 0 0 0 0 8582 0 159139 0 0 0 PART I, LINE 1A THE UNIVERSITY PAYS FOR THE PRESIDENT'S RESIDENCE AND THE RELATED REPAIRS, FOR THE YEAR ENDED JUNE 30, 2015. THE PRESIDENT'S CONTRACT PROVIDES FOR THE UNIVERSITY TO PAY HIS FAMILY'S MEMBERSHIP AT BIG ROCK COUNTRY CLUB. WHEREAS THERE IS AN EXPECTATION THAT IN THE COURSE OF HIS DUTIES, THE PRESIDENT AND/OR HIS SPOUSE ARE EXPECTED TO ATTEND CERTAIN PROFESSIONAL FUNCTIONS, ENTERTAIN GUESTS OF THE UNIVERSITY AND BUILD AND MAINTAIN EFFECTIVE RELATIONSHIPS WITH ALUMNI, FRIENDS OF THE UNIVERSITY, MEMBERS OF THE COMMUNITY, AND OTHERS, THE UNIVERSITY SHALL PAY FOR ALL REASONABLE ENTERTAINMENT, TRAVEL AND SIMILAR COSTS INCURRED BY THE PRESIDENT AND/OR HIS SPOUSE WHILE ACTING ON THE UNIVERSITY'S BEHALF. THE UNIVERSITY ALSO PROVIDES EXCLUSIVE UNRESTRICTED USE AT ALL TIMES DURING EMPLOYMENT WITH UIU AN AUTOMOBILE FOR THE VP OF ATHLETICS. THE UNIVERSITY ALSO PAYS FOR AN ANNUAL FAMILY MEMBERSHIP TO BIG ROCK COUNTRY CLUB FOR THE VP OF ATHLETICS. THE UNIVERSITY ALSO PAYS FOR A FAMILY MEMBERSHIP FOR THE PROVOST. PART I, LINE 4A DR. ALAN WALKER WORKED THROUGH SEPTEMBER, 2012. HE LEFT THE UNIVERSITY AFTERWARDS AND RECEIVED PAYMENT OF $25,750 PER MONTH THROUGH THE END OF THE FISCAL YEAR ENDED JUNE 30, 2014. A IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 462460L87 2010-07-08 44175651 SEE PART VI 0 0 0 B IOWA HIGHER EDUCATIONLOAN AUTHORITY 421235696 462460Y26 2013-02-12 23204396 SEE PART VI 0 0 0 A 1870211 44176694 3272925 883513 23236450 16783804 2011 1 0 1 1 B 23204398 1476250 1062390 451417 20214340 2012 0 0 1 1 A 0 0 1 1 0 0.01560 0.01560 0 0 0 B 0 0 0 0 0 0 0 A 0 1 0 0 0 0 0 0 0 B 0 1 0 0 0 0 0 0 0 A 0 B 0 IOWA HIGHER EDUCATION LOAN AUTHORITY - 07/08/2010 ISSUE PART I, COLUMN (F), PURPOSE - CONSTRUCTION OF LIBERAL ARTS BUILDING, STUDENT CENTER, STUDENT HOUSING; REFUNDING THE CITY OF FAYETTE, IOWA PRIVATE COLLEGE FACILITY REVENUE BONDS (UPPER IOWA UNIVERSITY PROJECT), SERIES 2009 ORIGINALLY ISSUED ON DECEMBER 30, 2009; AND REFUNDING THE CITY OF FAYETTE, IOWA PRIVATE COLLEGE FACILITY REVENUE BONDS (UPPER IOWA UNIVERSITY PROJECT), SERIES 2004 ORIGINALLY ISSUED ON JUNE 25, 2004. PART II, LINE 3, TOTAL PROCEEDS OF ISSUE - AMOUNT INCLUDES INVESTMENT PROCEEDS OF $1,043. PART II LINE 11, OTHER SPENT PROCEEDS - AMOUNT REPRESENTS THE PROCEEDS USED TO REFUND THE SERIES 2004 AND 2009 BONDS. IOWA HIGHER EDUCATION LOAN AUTHORITY - 02/12/2013 ISSUE PART I, COLUMN (F), PURPOSE - CONSTRUCTION OF STUDENT HOUSING, DESIGN WORK FOR RENOVATION OF SCIENCE BUILDING AND MISCELLANEOUS IMPROVEMENTS. PART II, LINE 3, TOTAL PROCEEDS OF ISSUE - AMOUNT INCLUDES INVESTMENT PROCEEDS OF $2. MAPLE CREST BUILDINGS INC PRINCIPAL OWNER OF MAPLE CREST BUILDINGS,INC IS A TRUSTEE OF THE UNIVERSITY 82200 BUILDING LEASE WITH MAPLE CREST BUILDINGS, INC. 0 FORM 990, PART VI, SECTION A, LINE 2 TRUSTEES ROBERT FIRTH AND BETTY DAVIS FIRTH HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 THE AVP ASSISTS IN THE PREPARATION OF THE FORM 990 AND SUPPORTING SCHEDULES. THE CFO AND AVP REVIEW THE FINAL DRAFT OF 990 AND SUPPORTING SCHEDULES. THE BOARD REVIEWS THE 990 BEFORE FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE GOVERNANCE COMMITTEE, ASSISTANT SECRETARY, AND ASSISTANT TREASURER OF THE BOARD OF TRUSTEES GATHERS AND REVIEWS THE ANNUAL DISCLOSURE FORMS AND DEALS WITH THE INFORMATION APPROPRIATELY AS NECESSARY. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS COMPARATIVE COMPENSATION DATA FOR THE PRESIDENT AND DETERMINES WHAT ADJUSTMENTS WILL BE MADE TO THE PRESIDENT'S CONTRACT AND COMPENSATION BASED ON THAT DATA AND PERFORMANCE. THE PRESIDENT NEGOTIATES CONTRACTS AND SETS COMPENSATION FOR OTHER KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 UIU'S WEBSITE HAS AN "ABOUT UIU" LINK THAT PROVIDES THE PUBLIC WITH INFORMATION REGARDING OUR MISSION, VISION, STRATEGIC PLAN, AND OTHER NEWS AND INFORMATIONAL ITEMS. UIU DOES NOT POST OUR GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS ON OUR PUBLIC WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTEREST IN TRUSTS HELD BY OTHERS -215,880. FORM 990, PART XII, LINE 2C THE OVERSIGHT AND SELECTION PROCESS FOR THE AUDIT OF THE FINANCIAL STATEMENTS DID NOT CHANGE FROM THE PRIOR YEAR. UPPER IOWA UNIVERSITY (HK) 3/F MAX SHARE BLDG 373 KINGS ROAD NORTH POINT HK EDUCATION HK UPPER IOWA UNIVERSITY C 1.00000 1 UIU MALAYSIA SDN BHD NO 9 JALAN TEKNOLOGI TAMAN SAINS PETALING JAYA SELANGOR MY 47810 EDUCATION MY UPPER IOWA UNIVERSITY C 1.00000 1 CHARITABLE REMAINDER UNITRUST (1) CHARITABLE TRUST IA T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0