2015-05-13T13:31:34-05:00 2014-06-30 KPMG LLP 1676 INTERNATIONAL DRIVE MCLEAN VA 21202 990 2013-07-01 520705392 Stevenson University % MELANIE EDMONDSON STEV 4104867000 1525 GREENSPRING VALLEY ROAD Suite STEVENSON MD 21153 KEVIN J MANNING PRESIDENT 4104867000 2015-05-13 true Raymond Ly P01205643 4104867000 2013 2016-02-25 16:41:14Z KEVIN J MANNING 1525 GREENSPRING VALLEY ROAD STEVENSON MD 21153 151201263 false X WWW.STEVENSON.EDU X 1947 MD THE UNIVERSITY IS AN INDEPENDENT COEDUCATIONAL FOUR-YEAR UNIVERSITY, WHICH OFFERS MASTER'S, BACHELOR'S, AND ASSOCIATE'S DEGREES TO APPROX. 3,680 FULL TIME EQUIV STUDENTS. 24 24 2010 182 340669 10297585 13240348 111017585 119404587 2389586 7574727 1253724 1185509 124958480 141405171 34328927 38128402 0 0 46636575 48996760 0 0 1647445 41287374 46091798 122252876 133216960 2705604 8188211 250179511 264252946 153862882 157340797 96316629 106912149 X THE UNIVERSITY IS AN INNOVATIVE, COEDUCATIONAL, INDEPENDENT INSTITUTION OFFERING UNDERGRADUATE AND GRADUATE STUDENTS A CAREER-FOCUSED EDUCATION MARKED BY INDIVIDUALIZED ATTENTION, CIVILITY, AND RESPECT FOR DIFFERENCE. THE UNIVERSITY BLENDS THE LIBERAL ARTS WITH CAREER EXPLORATION AND PLANNING, COMPLEMENTING A TRADITIONAL EDUCATION WITH APPLIED LEARNING BEYOND THE CLASSROOM. THE UNIVERSITY MEETS STUDENTS WHERE THEY ARE AND SUPPORTS AND CHALLENGES THEM TO BECOME REFLECTIVE AND ACCOMPLISHED INDIVIDUALS COMMITTED TO A LIFETIME OF LEARNING AND CONTRIBUTION. STUDENTS GRADUATE WITH THE COMPETENCE AND CONFIDENCE NEEDED TO ADDRESS CREATIVELY THE OPPORTUNITIES AND PROBLEMS FACING THEIR COMMUNITIES, THE NATION AND THE WORLD. false false 64698332 120029497 STEVENSON UNIVERSITY IS A FOUR YEAR UNIVERSITY PROVIDING EDUCATIONAL SERVICES TO APPROXIMATELY 3,494 FULL TIME, 307 PART TIME AND 441 GRADUATE STUDENTS. 38128402 38128402 THE NUMBER OF STUDENTS RECEIVING GRANTS IS AS FOLLOWS: PELL 1,360, SEOG 83, WORK STUDY 135, PERKINS 0, FEDERAL DIRECT SUB 2,258, FEDERAL DIRECT UNSUB 2,864, FEDERAL DIRECT PARENT 1,342, AND STEVENSON GRANTS AND SCHOLARSHIPS 3,170. 102826734 true true false true false false false false false true true false false false true true true false true false false false true false true false false false true true true false false false false false false false false false true true false false false true false false false false true 215 0 true 2010 true true true false false false false true true false false false false X 24 24 false false false false false false false true true false false true true true true true false true true false MD X MELANIE EDMONDSON 4433342272 1525 GREENSPRING VALLEY ROAD STEVENSON MD 21153 SANDRA R BERMAN TRUSTEE 1.0 0.0 X 0 0 0 JAMES T BRADY TRUSTEE 1.0 0.0 X 0 0 0 THOMAS F BRADY TREASURER 1.0 0.0 X 0 0 0 ROBERT C BRENNAN TRUSTEE 1.0 0.0 X 0 0 0 ERIC D BROTMAN CFP AEP MSFS TRUSTEE 1.0 0.0 X 0 0 0 MARC G BUNTING TRUSTEE 1.0 0.0 X 0 0 0 DAVID A BURROWS JR TRUSTEE 1.0 0.0 X 0 0 0 KEVIN G BYRNES TRUSTEE 1.0 0.0 X 0 0 0 RONALD M CAUSEY CPA TRUSTEE 1.0 0.0 X 0 0 0 MARY CLAIRE CHESSHIRE ESQ TRUSTEE 1.0 0.0 X 0 0 0 SAMUEL M DELL III TURSTEE 1.0 0.0 X 0 0 0 HERBERT J HOELTER TRUSTEE 1.0 0.0 X 0 0 0 MICHAEL A MANDISH CPA CSEP TRUSTEE 1.0 0.0 X 0 0 0 SHEELA MURTHY ESQ TRUSTEE 1.0 0.0 X 0 0 0 PETER B ORTHWEIN JR TRUSTEE 1.0 0.0 X 0 0 0 MARSHALL B PAUL ESQ SECRETARY 1.0 0.0 X 0 0 0 GARY A PYNE TRUSTEE 1.0 0.0 X 0 0 0 WILLIAM T RILEYJRCPACGMA TRUSTEE 1.0 0.0 X 0 0 0 PAUL MARK SANDLER ESQ TRUSTEE 1.0 0.0 X 0 0 0 MARGARET SHEETZ TRUSTEE 1.0 0.0 X 0 0 0 JANE FRANKEL SIMS ESQ TRUSTEE 1.0 0.0 X 0 0 0 ANNA L SMITH TRUSTEE 1.0 0.0 X 0 0 0 JAMES B STRADTNER CFA TRUSTEE 1.0 0.0 X 0 0 0 W DANIEL WHITE TRUSTEE 1.0 0.0 X 0 0 0 KEVIN J MANNING PRESIDENT 40.0 0.0 X 654751 0 30848 TIMOTHY M CAMPBELL EXEC VP OF FINANCE 40.0 0.0 X 333997 0 59332 MARK HERGAN VP OF ENROLLMENT 40.0 0.0 X 177400 0 49936 PAUL D LACK EXEC VP OF ACADEMIC AFFAIRS 40.0 0.0 X 338201 0 25814 STEVENSON W CLOSE VP OF INSTIT ADVANCEMENT 40.0 0.0 X 233866 0 50466 BRENDA BALZER VP OF HUMAN RESOURCES 40.0 0.0 X 157594 0 13562 PAUL CANTABENE ASSOC DIRECTOR OF ATHLETICS 40.0 0.0 X 180833 0 42326 GLENDA LEGENDRE VP OF PUBLIC RELATIONS 40.0 0.0 X 151257 0 12941 MELANIE EDMONDSON ASST. VP OF FINANCE 40.0 0.0 X 160110 0 12254 THOMAS ALLEN ASSOC VP AND CIO 40.0 0.0 X 135843 0 21828 2523852 0 319307 10 false true false SODEXO OPERATIONS LLC 1525 GREENSPRING VALLEY ROAD STEVENSON MD 21153 FOOD SERVICE 5418892 PROFESSIONAL MAINTENANCE MANAGEMENT 15938 DERWOOD RD ROCKVILLE MD 20855 CLEANING SERVICES 1606296 ALPHA MAINTENANCE SERVICES INC 2823 FLINTSTONE RD MILLERS MD 21102 GROUND REPAIRS 1494934 RCMD PO BOX 826365 PHILADELPHIA PA 19182 OPERATING INSURANCE 679348 RC CONTRACTORS INC PO BOX 4322 TIMONIUM MD 21094 GENERAL CONTRACTING 517128 32 22100 9890015 3328233 65905 13240348 TUITION AND FEES 900099 95651628 95651628 STUDENT HOUSING 611710 15214618 15214618 FOOD SERVICE 611710 6401907 6401907 BOOK STORE 451211 1934190 1934190 VENDOR COMMISSIONS 531120 202244 182001 20243 119404587 925919 925919 0 0 743915 1289 743915 1289 745204 317097 428107 16214509 217378 9774460 8619 6440049 208759 6648808 208759 6440049 13595 22100 13013 582 582 0 0 ATHLETICS 900099 231393 231393 DEPARTMENT REVENUE 900099 161284 161284 PARKING 812930 24532 24532 22514 19185 3329 439723 141405171 120029497 340669 7794657 0 38095002 38095002 33400 33400 0 1964722 364088 1121221 479413 0 38056942 32013789 5425900 617253 1779993 1453865 280704 45424 4487732 2423136 1981275 83321 2707371 2268907 382816 55648 0 216051 67337 148714 117965 117965 0 0 327534 327534 0 1239267 242478 996489 300 1366246 1299399 62973 3874 2511371 931272 1547616 32483 0 7819332 7612471 205356 1505 6580609 6475872 94501 10236 0 337556 281202 50361 5993 5251917 5251917 0 7433590 7433590 571105 277516 293589 MERCHANDISE FOR RESALE 2294633 1658432 636201 EQUIPMENT RENTAL & MAINTENANCE 1461567 1246124 215243 200 EVENTS 1430657 1082835 229430 118392 PRINTING & PUBLICATIONS 1331270 1143415 138382 49473 5801128 3856194 1801004 143930 133216960 102826734 28742781 1647445 0 0 2825116 6319285 654310 2043203 1659832 1493786 0 0 0 0 0 0 0 0 3305925 3238119 234175705 60436314 176545520 173739391 56251527 66794399 8937281 10624763 0 0 0 0 0 0 250179511 264252946 4167898 5535354 0 0 3040532 3703417 132350912 135962742 0 0 0 0 4710451 0 0 0 9593089 12139284 153862882 157340797 X 83687288 90310504 6685432 8422134 5943909 8179511 96316629 106912149 250179511 264252946 8188211 2407309 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false true 0 false false false false true 60800 60800 false LOBBYING EXPENDITURES Schedule C, PART II-B, LINE 1I IN JUNE 2009 STEVENSON UNIVERSITY HIRED TIMOTHY M. PERRY OF GORDON, FEINBLATT, ROTHMAN AS COUNSEL FOR THE UNIVERSITY REGARDING THE ACQUISITION OF STATE OWNED PROPERTY ON THE ROSEWOOD CAMPUS. THE UNIVERSITY PAID $60,800 FOR THESE SERVICES IN THE CURRENT YEAR. Mailings to members, legislators, or the public Schedule C, PART II-B, LINE 1D On occasion, correspondence is sent to students via email to notify them of legislation that may potentially impact higher education. 64772994 685940 12258108 300066 327532 77089444 55999421 224394 8866337 48975 268183 64772994 53965937 3045925 527012 1299760 239693 55999421 44452567 2213859 10265686 2711151 255024 53965937 39684423 2646139 6355812 4014974 218833 44452567 0.83100 0.08500 0.08400 false false 44310929 44310929 156894484 34272487 122621997 31553393 26163827 5389566 1416899 1416899 173739391 0 SWAP LIABILITIES 11351472 REFUNDABLE ADVANCES - US GOV'T 280502 OTHER LIABILITIES 507310 12139284 X 105365165 4902706 -2486779 2415927 102949238 327532 38128401 38455933 141405171 94769646 8619 8619 94761027 327532 38128401 38455933 133216960 INCOME TAX STATUS SCHEDULE D, PART X AS AN EDUCATIONAL INSTITUTION MEETING THE REQUIREMENTS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, THE UNIVERSITY IS EXEMPT FROM INCOME TAXES ON INCOME, AS PROVIDED IN SECTION 501 (A), EXCEPT TO THE EXTENT IT HAS TAXABLE INCOME FROM ACTIVITIES THAT ARE NOT RELATED TO ITS EXEMPT PURPOSE. NO PROVISION FOR INCOME TAXES WAS REQUIRED FOR 2014 AND 2013. THE UNIVERSITY HAD NO LIABILITY FOR UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2014. SCHEDULE D, PARTS XI, XII AND XIII PART XI, LINE 2D AMOUNT REPRESENTS CHANGE IN THE FAIR VALUE OF INTEREST RATE SWAP (2,495,398) LOSS ON FIXED ASSET DISPOSAL INCLUDED IN EXPENSE ON FINANCIAL STATEMENTS 8,619 ----------- (2,486,779) PART XI, LINE 4B AMOUNT REPRESENTS STUDENT FINANCIAL AID, WHICH IS NETTED AGAINST TUITION & FEES REVENUE FOR FINANCIAL STATEMENT PURPOSES. PART XI, LINE 8 AMOUNT REPRESENTS THE CHANGE IN THE FAIR VALUE OF INTEREST RATE SWAP AGREEMENTS. PART XII, LINE 4B AMOUNT REPRESENTS STUDENT FINANCIAL AID, WHICH IS NETTED AGAINST TUITION & FEES REVENUE FOR FINANCIAL STATEMENT PURPOSES. PART XIII, LINE 4B AMOUNT REPRESENTS STUDENT FINANCIAL AID, WHICH IS NETTED AGAINST TUITION & FEES REVENUE FOR FINANCIAL STATEMENT PURPOSES. INTENDED USES OF ENDOWMENT FUNDS THE UNIVERSITY'S ENDOWMENT CONSISTS OF APPROXIMATELY 40 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. true true true true true true true false false false false false false false false true false true SCHEDULE E, PART I LINE 3 THE UNIVERSITY'S RACIALLY NON-DISCRIMINATORY POLICY IS PUBLICIZED IN RADIO AND NEWSPAPER ADVERTISEMENTS AND THE UNIVERSITY'S WEBSITE. SCHEDULE E, PART I LINE 6A STEVENSON UNIVERSITY PARTICIPATES IN SEVERAL FINANCIAL AID PROGRAMS ADMINISTERED BY THE US DEPARTMENT OF EDUCATION AND BY THE STATE OF MARYLAND. true Europe (Including Iceland and Greenland) Program Services Students Study Abroad Sub-Saharan Africa Program Services Students Study Abroad South America Program Services Students Study Abroad Europe (Including Iceland and Greenland) Grantmaking South America Grantmaking South Asia Grantmaking STUDENT FINANCIAL AID Europe (Including Iceland and Greenland) 1 16000 ON ACCOUNT STUDENT FINANCIAL AID South America 1 5000 ON ACCOUNT STUDENT FINANCIAL AID South Asia 1 12400 ON ACCOUNT true false true true false false SCHEDULE F, PART I, LINE 2 THE UNIVERSITY PROVIDES FINANCIAL AID TO ELIGIBLE STUDENTS, GENERALLY IN A "PACKAGE" THAT INCLUDES LOANS, COMPENSATION UNDER WORK-STUDY PROGRAMS, AND/OR GRANT AND SCHOLARSHIP AWARDS. THE LOANS ARE PROVIDED PRIMARILY THROUGH PROGRAMS OF THE UNITED STATES GOVERNMENT (INCLUDING DIRECT AND GUARANTEED LOAN PROGRAMS) UNDER WHICH THE UNIVERSITY IS RESPONSIBLE ONLY FOR CERTAIN ADMINISTRATIVE DUTIES. THE GRANTS AND SCHOLARSHIPS INCLUDE AWARDS PROVIDED THROUGH GIFTS AND GRANTS FROM PRIVATE DONORS OR FROM INCOME EARNED ON ENDOWMENT FUNDS RESTRICTED FOR STUDENT AID, AS WELL AS GENERAL FUNDS SCHOLARSHIP AWARDS. ROUGHLY NINETY PERCENT OF STEVENSON UNIVERSITY STUDENTS RECEIVE SOME SORT OF FINANCIAL AID. ALL INDIVIDUALS RECEIVING DISBURSEMENTS FROM STEVENSON UNIVERSITY QUALIFY TO RECEIVE SUCH PAYMENTS BASED ON SCHOLASTIC ACHIEVEMENT AND/OR FINANCIAL NEED. THE UNIVERSITY PROVIDES NEED-BASED GRANT, WHICH IS DETERMINED BASED ON THE STUDENTS'S FAFSA SCORE. THE STUDENT MUST MAINTAIN A GPA OF 2.0 OR GREATER AND BE A FULL-TIME STUDENT. DISBURSEMENTS TAKE THE FORM OF SCHOLARSHIP OR GRANTS. GRANTS ARE DISBURSED BASED ON THE GUIDELINES SET FORTH BY THE PARTY FUNDING THE GRANT. MD GOLF TOURNAMENT 35695 22100 13595 150 5445 4514 2904 0 35695 22100 13595 150 5445 4514 2904 13013 582 true STUDENT FINANCIAL AID 3962 38095002 SCHEDULE I, PART I, LINE 2 THE UNIVERSITY PROVIDES FINANCIAL AID TO ELIGIBLE STUDENTS, GENERALLY IN A "PACKAGE" THAT INCLUDES LOANS, COMPENSATION UNDER WORK-STUDY PROGRAMS, AND/OR GRANT AND SCHOLARSHIP AWARDS. THE LOANS ARE PROVIDED PRIMARILY THROUGH PROGRAMS OF THE UNITED STATES GOVERNMENT (INCLUDING DIRECT AND GUARANTEED LOAN PROGRAMS) UNDER WHICH THE UNIVERSITY IS RESPONSIBLE ONLY FOR CERTAIN ADMINISTRATIVE DUTIES. THE GRANTS AND SCHOLARSHIPS INCLUDE AWARDS PROVIDED THROUGH GIFTS AND GRANTS FROM PRIVATE DONORS OR FROM INCOME EARNED ON ENDOWMENT FUNDS RESTRICTED FOR STUDENT AID, AS WELL AS GENERAL FUNDS SCHOLARSHIP AWARDS. ROUGHLY NINETY PERCENT OF STEVENSON UNIVERSITY STUDENTS RECEIVE SOME SORT OF FINANCIAL AID. ALL INDIVIDUALS RECEIVING DISBURSEMENTS FROM STEVENSON UNIVERSITY QUALIFY TO RECEIVE SUCH PAYMENTS BASED ON SCHOLASTIC ACHIEVEMENT AND/OR FINANCIAL NEED. THE UNIVERSITY PROVIDES NEED-BASED GRANT, WHICH IS DETERMINED BASED ON THE STUDENTS'S FAFSA SCORE. THE STUDENT MUST MAINTAIN A GPA OF 2.0 OR GREATER AND BE A FULL-TIME STUDENT. DISBURSEMENTS TAKE THE FORM OF SCHOLARSHIP OR GRANTS. GRANTS ARE DISBURSED BASED ON THE GUIDELINES SET FORTH BY THE PARTY FUNDING THE GRANT. X X X X true false X X X X X false true false false false false false false false KEVIN J MANNING PRESIDENT 354751 0 300000 0 0 0 19125 0 11723 0 685599 0 0 0 TIMOTHY M CAMPBELL EXEC VP OF FINANCE 208997 0 125000 0 0 0 45573 0 13759 0 393329 0 0 0 MARK HERGAN VP OF ENROLLMENT 177400 0 0 0 0 0 38123 0 11813 0 227336 0 0 0 PAUL D LACK EXEC VP OF ACADEMIC AFFAIRS 238201 0 100000 0 0 0 16388 0 9426 0 364015 0 0 0 STEVENSON W CLOSE VP OF INSTIT ADVANCEMENT 188866 0 45000 0 0 0 39118 0 11348 0 284332 0 0 0 BRENDA BALZER VP OF HUMAN RESOURCES 152594 0 5000 0 0 0 11567 0 1995 0 171156 0 0 0 PAUL CANTABENE ASSOC DIRECTOR OF ATHLETICS 110833 0 70000 0 0 0 32988 0 9338 0 223159 0 0 0 GLENDA LEGENDRE VP OF PUBLIC RELATIONS 146257 0 5000 0 0 0 10952 0 1989 0 164198 0 0 0 MELANIE EDMONDSON ASST. VP OF FINANCE 145110 0 15000 0 0 0 10909 0 1345 0 172364 0 0 0 THOMAS ALLEN ASSOC VP AND CIO 135843 0 0 0 0 0 10703 0 11125 0 157671 0 0 0 HOUSING STIPEND SCHEDULE J, PART I, LINE 1A DR. KEVIN MANNING PURCHASED HIS OWN RESIDENCE BUT RECEIVES A HOUSING ALLOWANCE OF $35,000 PER YEAR FROM THE UNIVERSITY. ADDITIONALLY, THE UNIVERSITY PAYS A MEMBERSHIP FEE FOR THE PRESIDENT TO BE A MEMBER OF THE CENTER CLUB AND THE BALTIMORE COUNTRY CLUB IN BALTIMORE, MARYLAND. THE CLUBS ARE UTILIZED BY THE PRESIDENT FOR VARIOUS BUSINESS MEETINGS AND EVENTS. THE EXECUTIVE VICE PRESIDENT OF FINANCE, THE VICE PRESIDENT OF INSTITUTIONAL ADVANCEMENT, THE EXECUTIVE VICE PRESIDENT FOR ACADEMIC AFFAIRS, THE VICE PRESIDENT OF ENROLLMENT AND THE ASSOCIATE DIRECTOR OF ATHLETICS RECEIVE AN EXPENSE ALLOWANCE OF $7,500 PER YEAR. ALL OF THESE AMOUNTS ARE REPORTED AS TAXABLE COMPENSATION ON SCHEDULE J AND PART VII. SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN SCHEDULE J, PART I, LINE 4B TIMOTHY CAMPBELL, PAUL CANTABENE, STEVENSON CLOSE AND MARK HERGAN PARTICIPATE IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP) SPONSORED BY THE UNIVERSITY. DEFERRED COMPENSATION EARNED UNDER THIS PLAN IS REPORTED ON SCHEDULE J, PART II, COLUMN C ALONG WITH THE 403(B) PLAN INSTITUTIONAL PAYMENTS. SERP CONTRIBUTIONS WERE AS FOLLOWS: TIMOTHY CAMPBELL $30,000 PAUL CANTABENE $25,000 STEVENSON CLOSE $25,000 MARK HERGAN $25,000 A MARYLAND HEALTH AND HIGHER EDUCATION FACILITIES AU 520936091 2013-10-15 147670000 See PART VI false false false A 1707258 0 147670000 0 0 132350000 671511 0 0 0 4648489 10000000 true false false true A false true true true false 0.02370 0.02370 false false false false A false true false false true true Bank of Amer PNC 20. false false false 0 false true A false CONSTELLATION ENERGY THOMAS BRADY WAS OFFICER 1310425 UTILITY PROVIDER false SCHEDULE L, PART IV THOMAS BRADY HAS BEEN CLASSIFIED AS AN INTERESTED PARTY TO THE UNIVERSITY DUE TO HIS EMPLOYMENT AS THE EXECUTIVE VICE PRESIDENT OF CORPORATE STRATEGY OF CONSTELLATION ENERGY, THE COMPANY WHO IS THE PRIMARY ENERGY PROVIDER TO THE UNIVERSITY. MR. BRADY IS NO LONGER AN EMPLOYEE OF THAT ORGANIZATION BUT REMAINS ON THE EXECUTIVE BOARD OF CONSTELLATION. X 6 65905 AVG TRADING PRICE false true true FORM 990 REVIEW PROCESS Form 990 Part VI Line 11b THE 990 INFORMATION IS COMPILED BY THE UNIVERSITY'S FINANCE OFFICE AND REVIEWED BY THE INDEPENDENT ACCOUNTING FIRM OF KPMG. THE DRAFT RETURN IS THEN PRESENTED TO AND REVIEWED BY THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE IS COMPRISED OF SIX MEMBERS SELECTED FROM THE UNIVERSITY'S CURRENT BOARD OF TRUSTEES. A COMPLETE COPY OF THE FORM 990 IS THEN EMAILED TO ALL MEMBERS OF THE BOARD OF TRUSTEES VIA A PASSWORD PROTECTED DOCUMENT. THE COMMITTEE MEMBERS HAVE A TWO WEEK PERIOD OF TIME WHERE THEY ARE ENCOURAGED TO REVIEW AND COMMENT ON THE DOCUMENT PRIOR TO ITS FILING. CONFLICT OF INTEREST POLICY Form 990 Part VI Line 12c IT IS THE POLICY OF STEVENSON UNIVERSITY THAT THE MEMBERS OF ITS BOARD OF TRUSTEES AVOID ETHICAL, LEGAL, FINANCIAL AND OTHER CONFLICTS OF INTEREST AND TO ENSURE THAT THEIR ACTIVITIES AND INTERESTS DO NOT CONFLICT WITH THEIR OBLIGATIONS TO THE UNIVERSITY AND ITS WELFARE. THIS POLICY COVERS MATTERS RELATING TO THE BOARD MEMBER OR ANY RELATED PERSON. A RELATED PERSON IS DEFINED AS A MEMBER OF THE IMMEDIATE FAMILY OF THE BOARD MEMBER, ANY ENTITY OF WHICH THE BOARD MEMBER IS AN OFFICER, DIRECTOR OR TRUSTEE OR WITH RESPECT TO WHICH THE BOARD MEMBER HOLDS A SIMILAR POSITION, ANY ENTITY IN WHICH THE BOARD MEMBER HAS A MATERIAL FINANCIAL INTEREST; AND ANY OTHER PERSON OR ENTITY WITH WHOM THE BOARD MEMBER HAS A PERSONAL RELATIONSHIP THAT MIGHT REASONABLY BE EXPECTED TO AFFECT THE BOARD MEMBER'S JUDGMENT IN THE PARTICULAR MATTER. ON AN ANNUAL BASIS EACH MEMBER OF THE BOARD OF TRUSTEES WILL SUBMIT TO THE SECRETARY OF THE BOARD, AN ANNUAL SIGNED CONFLICT OF INTEREST REPORT. IF DURING THE COURSE OF THE YEAR, AN ACTUAL OR POTENTIAL CONFLICT ARISES, BOARD MEMBERS ARE REQUIRED TO DISCLOSE THEM TO THE SECRETARY OF THE BOARD BEFORE ANY BOARD ACTION WITH RESPECT TO THE MATTER IS TAKEN. ANY BOARD MEMBER WHO IS AWARE OF AN EXISTING OR POTENTIAL CONFLICT OF INTEREST WITH RESPECT TO A MATTER COMING BEFORE THE BOARD OR COMMITTEE OF THE BOARD SHALL NOT BE PRESENT FOR ANY DISCUSSION OR VOTE IN CONNECTION WITH THE MATTER, AND THE AFFIRMATIVE VOTE OF A MAJORITY OF THE DISINTERESTED BOARD MEMBERS OR COMMITTEE MEMBERS, AS THE CASE MAY BE, SHALL BE REQUIRED IN ORDER TO APPROVE, RATIFY OR AUTHORIZE THE MATTER. THE BOARD MEMBER WHO HAS AN INTEREST IN THE MATTER SHALL NOT BE COUNTED FOR THE PURPOSE OF DETERMINING THE PRESENCE OF A QUORUM AT THE MEETING AT WHICH THE MATTER IS CONSIDERED. COMPENSATION REVIEW PROCESS Form 990 Part VI Line 15a COMPENSATION REVIEW PROCESS ON AN ANNUAL BASIS THE EXECUTIVE COMMITTEE, WHICH IS COMPRISED OF SIX INDEPENDENT MEMBERS SELECTED FROM OUR CURRENT BOARD OF TRUSTEES, MEETS TO EVALUATE THE PERFORMANCE OF THE PRESIDENT, CHIEF FINANCIAL OFFICER, EXECUTIVE VICE PRESIDENT FOR ACADEMIC AFFAIRS AND VICE PRESIDENT FOR UNIVERSITY ADVANCEMENT. DURING THIS MEETING, THE SALARIES ARE EVALUATED BY REVIEWING RESULTS OF COMPENSATION STUDIES PERFORMED BY AN INDEPENDENT ORGANIZATION. THE ORGANIZATION COMPILES THE WAGE INFORMATION OF TEN PEER COLLEGES AND UNIVERSITIES FROM THEIR FORM 990S FILED WITH THE IRS. THIS ENSURES THAT COMPENSATION LEVELS AT STEVENSON UNIVERSITY ARE WITHIN REASONABLE LEVELS TO OTHER INSTITUTIONS. MEETINGS OF THE EXECUTIVE COMMITTEE TAKE PLACE FOUR TIMES A YEAR. MINUTES ARE TAKEN AND RETAINED BY THE OFFICE OF THE PRESIDENT. IN JUNE OF EACH YEAR, THE COMMITTEE MEETS TO DISCUSS AND AUTHORIZE EXECUTIVE COMPENSATION FOR THE KEY EMPLOYEES LISTED ABOVE. FOR ALL OTHER ADMINISTRATIVE PERSONNEL EACH POSITION OR STATUS CHANGE IS BENCHMARKED AGAINST CUPA SALARY SURVEY COMPENSATION STANDARDS BY THE VICE PRESIDENT OF HUMAN RESOURCES TO ENSURE REASONABLE LEVELS OF COMPENSATION. GOVERNING DOCUMENTS Form 990 Part VI Line 19 THE UNIVERSITY MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC VIA ITS WEBSITE. COPIES OF THE AUDITED FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. STEVENSON UNIVERSITY INC 1525 GREENSPRING VALLEY ROAD STEVENSON MD 21153 520705392 STUDENT DORMS MD 13032357 NA