2015-03-30T09:45:51-05:00 2014-05-31 363168081 SIKICH LLP 1415 W DIEHL RD SUITE 400 NAPERVILLE IL 605632349 990 2013-06-01 362170999 UNIVERSITY OF ST FRANCIS UNIV 8157403372 500 WILCOX STREET JOLIET IL 604356188 ELIZABETH A LAKEN VP - ADMIN & FINANCE 8157403372 2015-03-24 1 BRYAN PAUTSCH P00034913 6305668400 2013 2016-03-07 17:11:31Z ARVID C JOHNSON 500 WILCOX STREET JOLIET IL 604356188 96847081 0 0928 X WWW.STFRANCIS.EDU X 1920 IL HIGHER LEARNING INSTITUTION (POST SECONDARY EDUCATION) 27 26 1262 399 229878 -15300 3948826 4074907 58757516 63443356 340604 422914 597242 809835 63644188 68751012 17481010 18769126 0 0 23821435 29218541 0 0 435936 17984433 14858028 59286878 62845695 4357310 5905317 72663545 76372932 38892958 36601309 33770587 39771623 X AS A CATHOLIC UNIVERSITY ROOTED IN THE LIBERAL ARTS, WE ARE A WELCOMING COMMUNITY OF LEARNERS CHALLENGED BY FRANCISCAN VALUES AND CHARISM, ENGAGED IN A CONTINUOUS PURSUIT OF KNOWLEDGE, FAITH, WISDOM, AND JUSTICE, AND EVER MINDFUL OF A TRADITION THAT EMPHASIZES REVERENCE FOR CREATION, COMPASSION AND PEACEMAKING. WE STRIVE FOR ACADEMIC EXCELLENCE IN ALL PROGRAMS, PREPARING WOMEN AND MEN TO CONTRIBUTE TO THE WORLD THROUGH SERVICE AND LEADERSHIP. 0 0 35958465 18769126 59386787 INSTRUCTION AND FINANCIAL AID: THE CATHOLIC, FRANCISCAN UNIVERSITY OFFERS 46 BACCALAUREATE PROGRAMS INCLUDING 4 ADULT UNDERGRADUATE MAJORS, 19 MASTER'S LEVEL PROGRAMS (ONSITE AND ONLINE CLASSES), 3 SUB-BACCALAUREATE CERTIFICATE PROGRAMS, 11 POST-BACCALAUREATE CERTIFICATE PROGRAMS, AND 2 DOCTORAL PROGRAMS. IN FISCAL YEAR 2014, THE UNIVERSITY SERVED 1,780 UNDERGRADUATE AND 1,984 POST-BACCALAUREATE STUDENTS. IN ADDITION, 98% OF TRADITIONAL UNDERGRADUATE STUDENTS AND 100% OF INCOMING FRESHMEN RECEIVED SOME FORM OF FINANCIAL AID. 7910690 STUDENT SERVICES: STUDENT SERVICES INCLUDE ADMISSIONS, WELCOME CENTER, FINANICAL AID ADMINISTRATION, REGISTAR, ATHLETICS, STUDENT ENGAGEMENT & LEADERSHIP, ORIENTATION, GRADUATION, CAREER SUCCESS CENTER, HEALTH & WELLNESS AND PERSONAL COUNSELING SERVICES, SUPPORT FOR STUDENTS WITH DISABILITIES, INSTITUTIONAL DIVERSITY, AND UNIVERSITY MINISTRY. IN FISCAL YEAR 2014, 402 STUDENT ATHLETES PARTICIPATED IN BASEBALL, BASKETBALL, BOWLING, CROSS COUNTRY, FOOTBALL, GOLF, SOCCER, SOFTBALL, SPIRIT LINE (CHEERLEADING), TENNIS, TRACK, AND VOLLEYBALL. 6655393 ACADEMIC SUPPORT: LIBRARY RESOURCES AND SERVICES, ACADEMIC RESOURCE CENTER, INSTITUTIONAL RESEARCH, STUDENT COMPUTER LABS, ACADEMIC TECHNOLOGY, AND DEANS OF EACH OF THE UNIVERSITY'S FOUR COLLEGES ARE INCLUDED IN THIS CATEGORY. THE LIBRARY'S COLLECTION INCLUDED 111,917 BOOKS AND OTHER PAPER DOCUMENTS, 20,711 VOLUMES OF SERIALS, 1,767 MICROFORMS, AND 9,026 AUDIOOVISUAL MATERIALS. CONSISTENT WITH THE INDUSTRY, THE UNIVERSITY'S RESOURCES CONTINUE TO MOVE AWAY FROM PRINTED MATERIALS AND TOWARD ELECTRONIC RESOURCES AND SUBSCRIPTIONS. THE RESOURCES AT THE LIBRARY ASSIST STUDENTS IN ALL METHODS OF RESEARCH. 4127563 3826691 AUXILIARY ENTERPRISES: RESIDENCE EDUCATION, STUDENT HOUSING, FOOD SERVICES, THE CAMPUS PRINT SHOP, MAIL SERVICES, AND THE BOOKSTORE ARE INCLUDED IN AUXILIARY SERVICES. 364 STUDENTS FILLED STUDENT HOUSING TO 90% CAPACITY IN 2014. NEW MENU ITEMS AND SERVICES WERE PROVIDED DURING THE YEAR. FOOD SERVICES ARE PROVIDED TO STUDENTS, FACULTY AND STAFF 16 HOURS A DAY. 4127563 3826691 54652111 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 1 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 1 90 0 1262 1 1 1 0 0 0 0 1 1 0 0 0 0 X 27 26 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X ELIZABETH A LAKEN 8157403372 500 WILCOX STREET JOLIET IL 605346188 KATHLEEN J MCGOWAN CHAIRPERSON AND PRESIDENT 8.00 X X 0 0 0 CHRYSTEL L GAVLIN VICE CHAIRPERSON AND VICE PRESIDENT 8.00 X X 0 0 0 ROBERT J BARON TRUSTEE 4.00 X 0 0 0 MARK D BASS TRUSTEE 4.00 X 0 0 0 DEWITT BUCHANAN TRUSTEE 4.00 X 0 0 0 KAREN CIARLETTE TRUSTEE 4.00 X 0 0 0 MICHAEL DOWD TRUSTEE 4.00 X 0 0 0 BRIAN GIEGERICH TRUSTEE 4.00 X 0 0 0 MARISUE GRABAVOY TRUSTEE 4.00 X 0 0 0 MARGARET E GUIDER TRUSTEE 4.00 X 0 0 0 DIANE F HABIGER TRUSTEE 4.00 X 0 0 0 ARVID C JOHNSON SECRETARY AND UNIVERSITY PRESIDENT 50.00 X X 138710 0 20088 DOROTHY KINSELLA TRUSTEE 4.00 X 0 0 0 JAMES B LEWIS OCARM TRUSTEE 4.00 X 0 0 0 JOSEPH THOMAS MALLOF TRUSTEE 4.00 X 0 0 0 KARL MAURER TRUSTEE 4.00 X 0 0 0 JD ROSS TRUSTEE 4.00 X 0 0 0 ARTHUR SCHEUBER TRUSTEE 4.00 X 0 0 0 FAITH SZAMBELANCZYK OSF TRUSTEE 4.00 X 0 0 0 MICHAEL TURK TRUSTEE 4.00 X 0 0 0 THOMAS VANA TRUSTEE 4.00 X 0 0 0 J BRADLEY WEBB TRUSTEE 4.00 X 0 0 0 PATRICIA S WHEELER TRUSTEE 4.00 X 0 0 0 LAWRENCE A WYLLIE TRUSTEE 4.00 X 0 0 0 ROBERT W WYSOCKI TRUSTEE 4.00 X 0 0 0 MARY JO YOUNG OSF TRUSTEE 4.00 X 0 0 0 DOLORES ZEMONT OSF TRUSTEE 4.00 X 0 0 0 ELIZABETH A LAKEN VP ADMIN & FINANCE/TREASURER 50.00 X 147391 0 19220 FRANK PASCOE PROVOST AND ACADEMIC VP 50.00 X 163387 0 27569 LAURA GRIMES PROGRAM DIRECTOR PHYS ASST 40.00 X 123098 0 12902 LYLE HICKS REC SPORTS & TOURISM MGMT PROF 40.00 X 150000 0 19613 MARGARET LEWANDOWSKI NURSING PROFESSOR 40.00 X 136215 0 16899 CONSTANCE LITWILLER NURSING PROFESSOR 40.00 X 136048 0 13948 CAROL WILSON COLLEGE OF NURSING DEAN 50.00 X 123172 0 17198 MICHAEL VINCIGUERRA FORMER SECRETARY & UNIVERSITY PRESIDENT 50.00 X 147265 0 18543 1265286 0 165980 25 1 1 0 SODEXO INC & AFFILIATES 500 WILCOX STREET JOLIET IL 60435 FOOD SERVICE MANAGEMENT 1589161 FRANK BURLA & SONS BUILDERS INC 24115 S NORTHERN ILLINOIS DR CHANNAHON IL 60410 CONSTRUCTION SERVICES 544351 PRIME TIME MARKETING 351 WEST HUBBARD STREET SUITE 406 CHICAGO IL 60654 MARKETING SERVICES 252273 RICOH USA INC PO BOX 534777 ATLANTA GA 30353 PRINT SHOP MANAGEMENT 244632 EXCEL ELECTRIC INC 24 SANGMEISTER ROAD FRANKFORT IL 60423 ELECTRICAL SERVICES 244442 18 242149 1664119 2168639 1500019 4074907 TUITION AND FEES 611310 59386787 59386787 STUDENT HOUSING AND AUXILIARY ENT 611310 4056569 3826691 229878 0 63443356 342108 342108 28033207 250 27952651 0 80556 250 80806 80806 169950 242149 143418 26532 26532 FEES FOR ACTIVITIES 900099 223736 223736 CHARGE CARD FEES & COLLECTION AGE 900099 209895 209895 ATHLETIC EVENTS 900099 79286 79286 270386 270386 783303 68751012 63213478 229878 1232749 18769126 18769126 645063 187024 372303 85736 22935157 19874772 2876363 184022 1156329 965687 176319 14323 2801191 2214972 554067 32152 1680801 1438108 224730 17963 41670 41670 82875 82875 80015 80015 2312017 1934752 352263 25002 280075 15998 264059 18 2226143 1459027 728826 38290 426449 239292 186908 249 1953005 1857188 91093 4724 747176 534448 206037 6691 132539 94216 36281 2042 619719 568902 48338 2479 2783095 2554882 217081 11132 475243 207812 267425 6 FOOD EXPENSES 1529498 1454686 67641 7171 BAD DEBT EXPENSE 468748 0 468748 0 FEES 201451 87317 113866 268 MEMBERSHIPS 185851 80029 104810 1012 312459 113873 195930 2656 62845695 54652111 7757648 435936 4030 4030 9289716 7903008 274790 53327 3674576 2871546 1344629 1291308 397351 450787 71368894 31214973 35341381 40153921 19611445 20915912 100000 2625627 2729093 72663545 76372932 3559816 3502999 4714340 3488006 24654272 27062000 16200 0 5948330 2548304 38892958 36601309 X 21832940 27838983 4168145 3842945 7769502 8089695 33770587 39771623 72663545 76372932 X 5905317 323452 4285 -232018 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14401149 658604 693090 422155 8738 15321950 13607211 312705 728800 245667 1900 14401149 10245264 228301 3870 275171 10202264 6964970 2939272 669907 328885 10245264 6659988 369185 235043 298796 450 6964970 0.33100 0.52800 0.14100 1 0 2073500 5746311 7819811 46344861 20674666 25670195 336043 38624 297419 10791013 8165788 2625225 6077166 2335895 3741271 40153921 CAPITAL LEASE OBLIGATIONS 220320 OTHER LIABILITIES 1208992 INTEREST RATE SWAP AGREEMENTS 43447 U.S. GOVERNMENT STUDENT LOAN FUNDS 1075545 2548304 X 51316771 323452 4285 143418 471155 50845616 77015 17828381 17905396 68751012 45083717 143418 143418 44940299 77015 17828381 17905396 62845695 PART V, LINE 4: THE INTENDED USES OF THE UNIVERSITY'S ENDOWMENT FUND ARE: SCHOLARSHIPS, PRIZES AND AWARDS, FACULTY DEVELOPMENT AND OTHER PROGRAMS. PART X, LINE 2: THE UNIVERSITY IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND A SIMILAR PROVISION OF STATE LAW. HOWEVER, THE UNIVERSITY IS SUBJECT TO FEDERAL INCOME TAX ON ANY UNRELATED BUSINESS TAXABLE INCOME. THE UNIVERSITY FILES TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. TAX EFFECTS FROM UNCERTAIN TAX POSITIONS ARE RECOGNIZED IN THE FINANCIAL STATEMENTS ONLY IF THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. MANAGEMENT HAS DETERMINED THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS. THE UNIVERSITY IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE, LOCAL OR NON-U.S. INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR FISCAL YEARS BEFORE 2011. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 143,418. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FINANCIAL AID 17,828,381. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 143,418. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FINANCIAL AID 17,828,381. 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 UNIVERSITY IS IN COMPLIANCE WITH REV. PROC. 75-50. THE UNIVERSITY PUBLISHES ITS NONDISCRIMINATION POLICY IN ITS CATALOG, FRESHMAN AND TRANSFER ADMISSION APPLICATIONS, AND HAS THE POLICY POSTED ON ITS WEBSITE. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY APPLIES FOR AND RECEIVES EDUCATIONAL GRANTS, AS APPROVED ON A CASE BY CASE BASIS, FROM FEDERAL AND STATE AGENCIES. THE UNIVERSITY ALSO PARTICIPATES ANNUALLY IN FEDERAL & STATE FINANCIAL AID PROGRAMS, SPECIFICALLY PELL, FSEOG, FEDERAL WORK-STUDY, PERKINS LOANS, FEDERAL DIRECT LOANS, AND VARIOUS STATE OF ILLINOIS SCHOLARSHIP AND GRANT PROGRAMS FOR QUALIFIED STUDENTS (I.E., IL MAP). 1 EAST ASIA AND THE PACIFIC STUDENT SERVICES 32580 SOUTH AMERICA PROGRAM SERVICES INSTRUCTION 4000 0 0 0 0 0 0 36580 0 36580 0 0 0 0 0 0 PART I, LINE 2: MANAGEMENT OF THE UNIVERSITY HAS CONTROLS IN PLACE TO MONITOR THE USE OF ALL GRANT FUNDS AND OTHER ASSISTANCE. EACH DEPARTMENT IS RESPONSIBLE FOR REVIEWING ALL AMOUNTS CHARGED TO GRANT ACCOUNT NUMBERS IN THE GENERAL LEDGER. THE DEVELOPMENT AND FINANCIAL AID DEPARTMENTS REVIEW OVERALL USE OF SCHOLARSHIP AND OTHER GRANT FUNDS TO ENSURE THAT THE RECIPIENTS ARE ELIGIBLE TO RECEIVE THE FUNDS. MANAGEMENT REVIEWS EACH DEPARTMENT'S REPORTS OF GRANT SPENDING ON A REGULAR BASIS, AND THE BUSINESS AFFAIRS COMMITTEE AND BOARD OF TRUSTEES RECEIVE QUARTERLY FINANCIAL REPORTING PACKAGES FOR REVIEW AS WELL. X X X X X X X 1 GRANTS PLUS LLC 1422 EUCLID AVENUE STE 970 CLEVELAND OH 441152011 FUNDRAISING CONSULTING 0 0 31957 -31957 31957 -31957 IL CARITAS SCHOLARSHIP BALL 314895 173215 141680 1705 39254 5000 55433 PAT SULLIVAN GOLF OUTING 51470 33455 18015 8824 4867 4907 1 45734 35479 10255 700 9949 12500 279 412099 242149 169950 11229 54070 17500 60619 143418 26532 1 SCHOLARSHIPS 1961 17828381 STAFF UNDERGRADUATE & GRADUATE DEGREE TUITION REMISSION BENEFITS 90 552584 RESIDENCE ASSISTANCESHIPS - HOUSING BENEFITS 20 212479 GRADUATE ASSISTANT TUITION WAIVERS 17 175682 PART I, LINE 2: MANAGEMENT OF THE UNIVERSITY HAS CONTROLS IN PLACE TO MONITOR THE USE OF ALL GRANT FUNDS. EACH DEPARTMENT IS RESPONSIBLE FOR REVIEWING ALL AMOUNTS CHARGED TO GRANT ACCOUNT NUMBERS IN THE GENERAL LEDGER. THE DEVELOPMENT AND FINANCIAL AID DEPARTMENTS REVIEW OVERALL USE OF SCHOLARSHIP AND OTHER GRANT FUNDS TO ENSURE THAT THE RECIPIENTS ARE ELIGIBLE TO RECEIVE THE FUNDS. MANAGEMENT REVIEWS EACH DEPARTMENT'S REPORTS OF GRANT SPENDING ON A REGULAR BASIS, AND THE BUSINESS AFFAIRS COMMITTEE AND BOARD OF TRUSTEES RECEIVE QUARTERLY FINANCIAL REPORTING PACKAGES FOR REVIEW AS WELL. X X X X X X 1 0 0 0 0 0 0 0 0 ARVID C JOHNSON SECRETARY AND UNIVERSITY PRESIDENT 134884 0 0 0 3826 0 14060 0 6028 0 158798 0 0 0 ELIZABETH A LAKEN VP ADMIN & FINANCE/TREASURER 146488 0 0 0 903 0 15031 0 4189 0 166611 0 0 0 FRANK PASCOE PROVOST AND ACADEMIC VP 153754 0 0 0 9633 0 16197 0 11372 0 190956 0 0 0 LYLE HICKS REC SPORTS & TOURISM MGMT PROF 147640 0 0 0 2360 0 13636 0 5977 0 169613 0 0 0 MARGARET LEWANDOWSKI NURSING PROFESSOR 68293 0 67922 0 0 0 4339 0 12560 0 153114 0 0 0 MICHAEL VINCIGUERRA FORMER SECRETARY & UNIVERSITY PRESID 107107 0 0 0 40158 0 14135 0 4408 0 165808 0 0 0 PART I, LINE 4A MICHAEL VINCIGUERRA - $7,000 A ILLINOIS FINANCE AUTHORITY 861091967 NONEAVAIL 2013-06-17 24248000 SEE SCHEDULE K, PART VI 0 0 0 A 24248000 245436 24002564 2013 1 0 1 1 A 0 0 1 1 0 0.01000 0.01000 0 0 1 A 0 1 1 1 1 1 SEE SCHEDULE K PART IV 7.100000000000 0 0 0 0 1 A 1 SCHEDULE K, PART I, LINE A, COLUMN F - PURPOSE OF THE BOND: THE PROCEEDS OF THE ISSUE WERE DEPOSITED INTO ESCROW ON 6/17/13, AND THEN WERE ENTIRELY SPENT ON 6/18/13 TO (I) CURRENTLY REFUND THE OUTSTANDING $13,380,000 BALANCE OF THE COUNTY OF WILL, ILLINOIS ADJUSTABLE RATE DEMAND REVENUE BONDS ISSUED IN 2005; (II) CURRENTLY REFUND THE OUTSTANDING $11,370,000 BALANCE OF THE COUNTY OF WILL, ILLINOIS TAX-EXEMPT VARIABLE RATE DEMAND REVENUE BONDS ISSUED IN 2007; AND (III) FUND COSTS ASSOCIATED WITH THE ISSUANCE OF THE BOND. SCHEDULE K, PART IV, LINE 2C, COLUMN A THE LAST DATE A REBATE CALCULATION WAS PERFORMED FOR THIS BOND ISSUE WAS 6/30/13. SCHEDULE K, PART IV, LINE 4B, COLUMN A NORTH SHORE COMMUNITY BANK & TRUST COMPANY MICHAEL TURK TRUSTEE 21415 PURCHASE OF FURNITURE FROM TURK FURNITURE (OWNED BY TRUSTEE) 0 J BRADLEY WEBB FORMER TRUSTEE 26740 PURCHASE OF FORD VAN FROM PACKEY WEBB FORD (OWNED BY FORMER TRUSTEE) 0 SISTERS OF ST FRANCIS OF MARY IMMACULATE TRUSTEE 500000 THE UNIVERSITY PURCHASED THE ST. CLARE CAMPUS FROM THE CONGREGATION FOR $500,000, AND $1,437,425 WAS DONATED BY THE CONGREGATION AND RECORDED AS A CONTRIBUTION, WHICH WAS CALCULATED AS THE DIFFERENCE BETWEEN THE APPRAISED VALUE OF THE PROPERTY AND THE PURCHASE PRICE. THE $1,437,425 CONTRIBUTION IS REPORTED ON SCHEDULE M. 0 PATRICIA PASCOE FAMILY OF KEY EMPLOYEE 99712 THE UNIVERSITY EMPLOYS PATRICIA PASCOE WHO IS AN INTERESTED PERSON DUE TO HER FAMILY RELATIONSHIP WITH A KEY EMPLOYEE OF THE UNIVERSITY. 0 X 1936 COMPARABLE COST X 1 1003 MARKET VALUE STOCK QUOTE X 1 1437425 APPRAISED VALUE X 2 425 ACTUAL COST X KITCHEN EQUIP 1 35000 ACTUAL COST X AUCTION ITEMS 54 23030 ACTUAL COST X EDUCATIONAL E 3 1200 COMPARABLE COST 0 1 1 PART I, COLUMN (B): THE UNIVERSITY REPORTS THE NUMBER OF CONTRIBUTIONS OF ALL ITEMS CHECKED IN PART I, COLUMN (A). PART I, LINE 32B: WHEN THE UNIVERSITY RECEIVES A STOCK GIFT, THE DEVELOPMENT OFFICE REFERS THE DONOR TO THE UNIVERSITY'S THIRD-PARTY BROKER. UPON AUTHORIZATION FROM THE VICE PRESIDENT FOR ADMINISTRATION AND FINANCE OR THE CONTROLLER, THE BROKER SELLS THE STOCK AND SENDS THE UNIVERSITY THE NET PROCEEDS FROM THE SALE. FORM 990, PART VI, SECTION A, LINE 4 REVISIONS TO BYLAWS: NOVEMBER 21, 2013: ARTICLE II, BOARD OF TRUSTEES, SECTION 10 WAS AMENDED TO DELETE STRATEGY COMMITTEE. ARTICLE II, BOARD OF TRUSTEES, SECTION 15 STRATEGY COMMITTEE WAS DELETED ENTIRELY; SECTIONS 16-17 WERE RENUMBERED 15-16. FEBRUARY 13, 2014: A NEW ARTICLE II, SECTION 3, TRUSTEE LEAVE OF ABSENCE, WAS ADDED; SECTIONS 3-16 WERE RENUMBERED 4-17. APRIL 10, 2014: ARTICLE II, BOARD OF TRUSTEES, SECTION 10 WAS AMENDED TO ADD THE INVESTMENT COMMITTEE. A NEW ARTICLE II, SECTION 17 INVESTMENT COMMITTEE WAS ADDED; SECTION 17 WAS RENUMBERED 18. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 HAS BEEN REVIEWED IN DETAIL BY THE CONTROLLER, VICE PRESIDENT FOR ADMINISTRATION AND FINANCE, AND THE PRESIDENT OF THE UNIVERSITY; IN ADDITION, THE FORM 990 HAS BEEN MADE AVAILABLE TO THE GOVERNING BODY FOR REVIEW AND ACCEPTANCE BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION FOLLOWS A BID PROCESS TO ENSURE THAT ANY EXCHANGE OF SERVICES OR FUNDS BY THE ORGANIZATION WITH PARTIES WHERE A CONFLICT OF INTEREST IS PRESENT IS DONE SO THAT IT IS MADE UNDER AN ARM'S LENGTH TRANSACTION TO ENSURE ALL PARTIES ARE TREATED EQUALLY. ANY HINT OF IMPROPRIETY IS IMMEDIATELY BROUGHT TO THE ATTENTION OF THE PRESIDENT, A MEMBER OF THE BOARD OF TRUSTEES, OR ONE OF ITS MANY SUB-COMMITTEES. THE ORGANIZATION MONITORS COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY PERIODICALLY THROUGHOUT THE YEAR AND IN TOTAL AT YEAR END. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES SETS THE THRESHOLDS AND OTHER CONDITIONS THAT DEFINE HIGHLY COMPENSATED EMPLOYEES AT THE UNIVERSITY OF ST. FRANCIS; SELECTS COMPARABLE DATA TO BE USED IN EVALUATING RECOMMENDED COMPENSATION PACKAGES; DETERMINES CONDITIONS WHEN PACKAGES THAT DO NOT REFLECT THOSE FOR COMPARABLE POSITION AT PEER INSTITUTIONS SHALL BE APPROVED; AND, APPROVES ANY SEPARATION COMPENSATION AGREEMENT BETWEEN A HIGHLY COMPENSATED INDIVIDUAL AND THE UNIVERSITY. THIS COMMITTEE IS CONSIDERED INDEPENDENT OF THE PRESIDENT. THE PROCESS FOR DETERMINING COMPENSATION IS CONTEMPORANEOUSLY DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENT 20,703. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 138,996. LOSS ON EXTINGUISHMENT OF DEBT -391,717. SCHEDULE D, PART V, COLUMN B, LINE 1A ENDOWMENT FUNDS THE BEGINNING BALANCE OF THE ENDOWMENT FUNDS WAS RESTATED DURING THE FISCAL YEAR ENDED MAY 31, 2013. THE RESTATEMENT TOTALED $3,404,947, WHICH INCREASED THE BEGINNING OF YEAR BALANCE FROM $10,202,264 TO $13,607,211. THE EFFECT OF THE RESTATEMENT TO THE ENDOWMENT FUNDS WAS AN INCREASE IN THE UNRESTRICTED, TEMPORARILY RESTRICTED, AND PERMANENTLY RESTRICTED ENDOWMENT OF $1,754,422, $836,231, AND $814,294, RESPECTIVELY. SCHEDULE G, PART I THE UNIVERSITY OF ST. FRANCIS HIRED GRANTS PLUS TO SERVE AS A PROFESSIONAL FUNDRAISER TO ASSIST WITH THE RESEARCH AND PREPARATION OF GRANT PROPOSALS IN THE BEGINNING OF THE FISCAL YEAR ENDED MAY 31, 2014. ALTHOUGH MANY GRANT PROPOSALS WERE SUBMITTED, BY THE END OF THE FISCAL YEAR THE UNIVERSITY DID NOT RECEIVE ANY GRANT FUNDS. IT IS ANTICIPATED THAT THE UNIVERSITY WILL RECEIVE FUTURE GRANTS FROM THEIR EFFORTS. IN JULY 2014, THE UNIVERSITY WAS NOTIFIED THAT IT WAS AWARDED A GRANT WITH ANTICIPATED RECEIPTS TOTALING APPROXIMATELY $325,000 FOR THE FISCAL YEAR ENDED MAY 31, 2015. THE UNIVERSITY WILL CLOSELY MONITOR THEIR ARRANGEMENT WITH GRANTS PLUS. SISTERS OF ST FRANCIS OF MARY IMMACULATE 1433 ESSINGTON JOLIET IL 60435 362764900 RELIGIOUS ORDER IL 501(C)(3) LINE 1 N/A 0 VIRGINIA J SAXON SCHOLARSHIP FUND 111 W MONROE STREET 16W CHICAGO IL 60603 367467799 SCHOLARSHIPS IL 501(C)(3) PF N/A 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1