2015-04-08T13:33:24-05:00 2014-05-31 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 777 E WISCONSIN AVENUE 32ND FLOOR MILWAUKEE WI 53202 990 2013-06-01 390808497 BELOIT COLLEGE BELO 6083632205 700 COLLEGE ST BELOIT WI 53511 LAURIE STICKELMAIER VP FOR BUDGET AND PLANNING 6083632205 2015-04-07 1 TROY E MARINE CPA P00187863 4147775500 2015-04-07 2013 2016-03-07 17:11:31Z DR H SCOTT BIERMAN 700 COLLEGE ST BELOIT WI 53511 102714808 0 X WWW.BELOIT.EDU X 1846 WI THE PRIMARY AIM OF BELOIT COLLEGE IS TO PROVIDE A LEARNING AND LIVING ENVIRONMENT DEDICATED TO THE CULTIVATION OF LIBERALLY EDUCATED PERSONS. FOR MORE THAN 150 YEARS, THE COLLEGE'S GOALS HAVE REMAINED CONSTANT: TO PROVIDE STUDENTS WITH A BROAD GROUNDING IN FACT; THE EXPERIENCE OF MASTERING AN AREA OF KNOWLEDGE; THE ABILITY AND INCLINATION TO INTEGRATE, ASSIMILATE, AND EVALUATE; A CONTINUING CONCERN FOR VALUES; ENTHUSIASM FOR PERSONAL CREATIVITY; AN AESTHETIC SENSIBILITY; A GLOBAL PERSPECTIVE, AND MOST IMPORTANTLY, THE DESIRE TO CONTINUE LEARNING. RELATED TO THESE GOALS ARE SEVERAL MAJOR COMMITMENTS THAT HAVE LONG HELPED TO GUIDE THE OPERATION OF BELOIT COLLEGE: A DEDICATION TO THE PURSUIT OF EXCELLENCE; A DEDICATION TO FREE INQUIRY AND COMMITMENT AS EXEMPLIFIED BY THE COLLEGE'S OWN TRADITIONS; AN INTEGRITY OF PURPOSE AND PERFORMANCE STEADFAST AGAINST EXPEDIENCY OR EXPLOITATION; A SPIRIT OF TOLERANCE THAT WILL PERPETUATE FREEDOM, WHETHER OF WORK, WORSHIP, SPEECH, PRESS, OR ACADEMIC RESE 30 30 1630 120 94223 -14540 6917386 10250419 56032001 57393334 4538215 8967420 759428 1174569 68247030 77785742 24408662 26305673 0 0 27193890 27646618 0 0 2696010 20486799 23220940 72089351 77173231 -3842321 612511 233649445 237489078 79784886 76031472 153864559 161457606 X SEE SCHEDULE O 0 0 64858933 26305673 57393334 BELOIT COLLEGE, A LIBERAL ARTS COLLEGE FOUNDED ON THE WISCONSIN FRONTIER IN 1846, WAS BORN OUT OF A BELIEF THAT A PARTICULAR BRAND OF EDUCATION COULD ENERGIZE AND TRANSFORM LIVES, AND BY EXTENSION, THE WORLD. BELOIT CONTINUES TO BELIEVE THIS AND DELIVERS IT THROUGH A "LIBERAL ARTS IN PRACTICE" CURRICULUM THAT ENGAGES STUDENTS IN AN EXPLORATION OF IDEAS, COMPELS STUDENTS TO DEEPLY KNOW THEIR SUBJECTS, AND REQUIRES THEM TO DEMONSTRATE THAT THEY DO. THAT FOCUS, ON PROVIDING A RIGOROUS AND REWARDING EDUCATION AND PREPARATION, HAS LONG SET THE COLLEGE AND ITS STUDENTS APART.DURING THE 2013-14 ACADEMIC YEAR, THE COLLEGE SERVED 1,306 STUDENTS, FROM 34 COUNTRIES, 48 STATES AND THE DISTRICT OF COLUMBIA. COURSES WERE OFFERED IN FALL, SPRING AND SUMMER SESSIONS. EDUCATIONAL SERVICES WERE PROVIDED BOTH DOMESTICALLY AND THROUGH STUDY ABROAD PROGRAMS. THE COLLEGE GRADUATED 282 STUDENTS DURING THE YEAR WHILE PROVIDING FINANCIAL ASSISTANCE TO APPROXIMATELY 1,200 STUDENTS.HAILED AS ONE OF 40 "COLLEGES THAT CHANGE LIVES" BY FORMER NEW YORK TIMES EDUCATION EDITOR, LOREN POPE, BELOIT OFFERS STUDENTS ACCESS TO MORE THAN 50 ACADEMIC PROGRAMS, MORE THAN 50 STUDENT CLUBS, 18 VARSITY SPORTS, AND COUNTLESS OTHER OPPORTUNITIES THAT RANGE FROM HANDS-ON FIELD AND INTERNSHIP EXPERIENCES BOTH LOCALLY AND GLOBALLY, TO COLLEGE FUNDED STUDENT BUSINESS STARTUPS. 64858933 1 1 0 0 0 1 0 1 0 1 1 0 0 0 1 1 1 0 1 1 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 164 0 1 1630 1 1 1 1 IT 0 0 0 1 1 0 0 0 0 X 30 30 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X X LAURIE STICKELMAIER 6083632250 700 COLLEGE STREET BELOIT WI 53511 MR BILL BOYD TRUSTEE 1.00 X 0 0 0 MR CHRISTOPHER D BARTOL TRUSTEE 1.00 X 0 0 0 MR CHUCK MCQUAID TRUSTEE 1.00 X 0 0 0 MR DICK NIEMIEC TRUSTEE 1.00 X 0 0 0 MR DON J WYATT TRUSTEE 1.00 X 0 0 0 MR DONALD CARSON TRUSTEE 1.00 X 0 0 0 MR EUGENE ZELTMANN TRUSTEE 1.00 X 0 0 0 MR HAROLD F MAYER TRUSTEE 1.00 X 0 0 0 MR JACK ROZRAN TRUSTEE 1.00 X 0 0 0 MR JAMES PACKARD TRUSTEE 1.00 X 0 0 0 MR JAMES SANGER TRUSTEE 1.00 X 0 0 0 MR JONATHON P MASON TRUSTEE 1.00 X 0 0 0 MR OSCAR E CARDONA TRUSTEE 1.00 X 0 0 0 MR PETER CHATILOVICZ TRUSTEE 1.00 X 0 0 0 MR PHEE BOON KANG TRUSTEE 1.00 X 0 0 0 MR RICHARD CLAYTON TRUSTEE 1.00 X 0 0 0 MR ROBERT SHAW TRUSTEE 1.00 X 0 0 0 MR ROBERT YOUNG TRUSTEE 1.00 X 0 0 0 MR STEPHEN H MAHLE TRUSTEE 1.00 X 0 0 0 MR STEVEN COHEN TRUSTEE 1.00 X 0 0 0 MR THOMAS O'NEILL TRUSTEE 1.00 X 0 0 0 MR THOMAS WALCOTT TRUSTEE 1.00 X 0 0 0 MS CECILY MAJERUS TRUSTEE 1.00 X 0 0 0 MS DIANE HENDRICKS TRUSTEE 1.00 X 0 0 0 MS JO FROMAN TRUSTEE 1.00 X 0 0 0 MS JOANNA KUTTER TRUSTEE 1.00 X 0 0 0 MS JUDITH MILLER TRUSTEE 1.00 X 0 0 0 MS MARGARET ROBINSON TRUSTEE 1.00 X 0 0 0 MS NINA WEISSBERG TRUSTEE 1.00 X 0 0 0 MS SHAMS RASHID TRUSTEE 1.00 X 0 0 0 MS SUDHA P QUAMME TRUSTEE 1.00 X 0 0 0 DR ANN DAVIES PROVOST & DEAN OF THE COLL 40.00 X 163487 0 21394 DR CHRISTINA KLAWITTER DEAN OF STUDENTS 40.00 X 122141 0 12287 DR H SCOTT BIERMAN PRESIDENT 40.00 X 434938 0 34776 MR R JEFF PUCKETT VP EXTERNAL AFFAIRS 40.00 X 235878 0 35243 MS CONNIE TRUESDALE SECRETARY OF THE COLLEGE 40.00 X 60030 0 15900 MS LAURIE STICKELMAIER VP FINANCE & PLANNING/TREASURER 40.00 X 97438 0 14517 MS LORI RHEAD VP HUMAN RESOURCES & OPERATIONS 40.00 X 104186 0 20283 MS MEGAN FITCH CHIEF INFORMATION OFFICER 40.00 X 101260 0 15473 MS NANCY BENEDICT VP ENROLLMENT 40.00 X 142155 0 24078 MR BILL FLANAGAN DEVELOPMENT PROFESSIONAL 40.00 X 115528 0 12116 MR DANIEL SCHOOFF SENIOR DIRECTOR OF CORPORATE RELATIONS 40.00 X 115721 0 10948 MS BETH MONTIERO EXEC DIR DEV OPER & GIFT P 40.00 X 138924 0 25575 1831686 0 242590 10 0 1 0 BON APPETIT PO BOX 91337 CHICAGO IL 60693 FOOD SERVICE 3312352 ALLIANT ENERGY PO BOX 3068 CEDAR RAPIDS IA 52406 ENERGY 888426 RENAISSANCE ROOFING PO BOX 5024 ROCKFORD IL 61125 CONSTRUCTION 418983 MARSH USA INC PO BOX 846015 DALLAS TX 75284 INSURANCE 378832 WORLD LEARNING KIPLING ROAD PO BOX 676 BRATTLEBORO VT 053020676 EDUCATION SERVICES 292663 25 14830 1417794 8817795 1358124 10250419 TUITION & FEES 812900 49706833 49706833 ROOM, BOARD & OTHER 812900 7686501 7686501 57393334 8686319 8686319 2470 2470 25193699 24873608 38990 320091 -38990 281101 281101 18237 14830 16468 1769 1769 MISCELLANEOUS INCOME 900099 1061659 -14448 1076107 CONFERENCES 721000 108671 108671 1170330 77785742 57393334 94223 10047766 24745628 24745628 1560045 1560045 1935672 534341 1109155 292176 19752429 14940094 3336653 1475682 1356472 1014378 244558 97536 3021881 2122957 757516 141408 1580164 1150964 322018 107182 113749 2400 103528 7821 96345 96345 75239 75239 3797419 2647282 995947 154190 43813 18765 25001 47 1963065 1337272 437914 187879 509595 233846 269701 6048 1800 1800 1637709 1637709 1410247 1156938 124494 128815 323123 268432 33903 20788 2749357 2749357 4336799 3357654 979145 289126 1648 256135 31343 FOOD SERVICE 3330990 3200860 87730 42400 REPAIRS & MAINTENANCE 1566765 1437804 128022 939 COLLECTIONS 515611 515611 MISCELLANEOUS OTHER 460188 223148 235284 1756 77173231 64858933 9618288 2696010 549212 368783 4773099 5226858 3932463 3042641 1556694 383211 7591370 5804634 17780 28698 123016 339977 133731806 60138154 76276920 73593652 133708837 144285660 634306 14656 4485748 4400308 233649445 237489078 4651230 5771950 2109694 1953385 58440000 57735500 14583962 10570637 79784886 76031472 X 53307305 54068515 24804131 26632901 75753123 80756190 153864559 161457606 233649445 237489078 X 612511 5531076 1449460 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 105000 373275 1 1 722579 X X X 0 129711883 6825933 13941212 1338607 6862797 142277624 113282605 2651213 19722487 1307842 4636580 129711883 118664445 2774411 -2634589 1206005 4315657 113282605 102942506 4474866 15831503 1238397 3346033 118664445 89083136 6038079 12660647 1345392 3493964 102942506 0.34000 0.53000 0.13000 0 0 1593634 1593634 113114556 49489470 63625086 75744 75744 0 8363276 6134887 2228389 10584596 4438053 6146543 73593652 STUDENT DEPOSITS 597034 FUNDS HELD FOR OTHERS 373636 ANNUITIES PAYABLE 2788833 INTEREST RATE EXCHANGE LIABILITY 6811134 10570637 X 58401834 5531076 -24839745 -19308669 77710503 75239 75239 77785742 50808787 16468 16468 50792319 75239 26305673 26380912 77173231 PART III, LINE 4: THE COLLEGE MAINTAINS AN ANTHROPOLOGICAL MUSEUM AND AN ART MUSEUM. THE COLLECTIONS ARE DISPLAYED FOR PUBLIC VIEWING. HOWEVER, SPACE LIMITATIONS REQUIRE THAT ONLY PORTIONS OF THE COLLECTION ARE DISPLAYED AT A GIVEN TIME. THE COLLECTIONS AND THEIR PRESERVATION ARE USED IN THE CLASSROOM SETTING FOR INSTRUCTIONAL PURPOSES IN AREAS OF STUDY SUCH AS ANTHROPOLOGY, ART AND MUSEUM STUDIES. PART V, LINE 4: THE PURPOSE OF THE COLLEGE'S ENDOWMENT FUND IS TO PROVIDE A CONTINUOUS SOURCE OF FUNDING TO SUPPORT THE MISSION OF THE INSTITUTION. ENDOWMENT FUND EXPENDITURES PROVIDE FUNDING FOR SCHOLARSHIPS, FACULTY SALARIES, LIBRARY RESOURCES, AND OTHER PROGRAM ACTIVITIES. PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IT IS ALSO EXEMPT FROM STATE INCOME TAX. HOWEVER, ANY UNRELATED BUSINESS INCOME MAY BE SUBJECT TO TAXATION. THE COLLEGE 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 COLLEGE FOR UNCERTAIN TAX POSITIONS AS OF MAY 31, 2014 AND 2013. THE COLLEGE'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. OPEN TAX YEARS SUBJECT TO EXAMINATION BY THE U.S. AND STATE TAXING AUTHORITIES ARE FOR THE YEARS 2011 TO 2013 WHICH STATUTES EXPIRE IN 2014 TO 2016, RESPECTIVELY. PART XI, LINE 2D - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID -26,305,673. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 505,156. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUSTS 214,793. SPECIAL EVENTS EXPENSE 16,468. INTEREST RATE SWAP GAIN 729,511. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSE 16,468. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 26,305,673. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 BELOIT COLLEGE IS A FOUR YEAR PRIVATE LIBERAL ARTS INSTITUTION THAT DRAWS STUDENTS NOT ONLY NATION WIDE BUT WORLD WIDE. MATERIALS USED IN PROMOTIONAL ACTIVITIES AND RECRUITING EFFORTS INCLUDE STATEMENTS THAT BELOIT COLLEGE DOES NOT DISCRIMINATE AGAINST STUDENTS, APPLICANTS FOR ADMISSION, APPLICANTS FOR FINANCIAL ASSISTANCE, APPLICANTS FOR EMPLOYMENT, OR EMPLOYEES ON THE BASIS OF SEX, RACE, COLOR, RELIGION, NATIONAL ORIGIN, ANCESTRY, AGE, SEXUAL ORIENTATION, OR PHYSICAL OR MENTAL DISABILITIES UNRELATED TO INSTITUTIONAL JOBS, PROGRAMS, OR ACTIVITIES. SCHEDULE E, PART I, LINE 6 BELOIT COLLEGE DID RECEIVE FEDERAL FUNDS, WHICH WERE USED FOR STUDENT PROGRAMS/ENTITLEMENTS SUCH AS PELL GRANTS, SEOG GRANTS, AND WORKSTUDY PROGRAMS. 1 SOUTH AMERICA 0 0 EDUCATIONAL SERVICES PROGRAM SERVICES 42294 EUROPE/ICELAND/GREENLAND 0 0 EDUCATIONAL SERVICES PROGRAM SERVICES 278110 CENTRAL AMERICA & THE CARIBBEAN 0 0 EDUCATIONAL SERVICES PROGRAM SERVICES SUB-SAHARAN AFRICA 0 0 EDUCATIONAL SERVICES PROGRAM SERVICES 22556 MIDDLE EAST AND NORTH AFRICA 0 0 EDUCATIONAL SERVICES PROGRAM SERVICES EAST ASIA AND THE PACIFIC 0 0 EDUCATIONAL SERVICES, ABROAD STUDENT SUPPORT PROGRAM SERVICES 80939 RUSSIA 0 0 EDUCATIONAL SERVICES, ABROOAD STUDENT SUPPORT PROGRAM SERVICES NORTH AMERICA 0 0 EDUCATIONAL SERVICES PROGRAM SERVICES 10754 0 0 0 0 0 0 434653 0 434653 SCHOLARSHIP SOUTH AMERICA 16 216319 SEE PART VI SCHOLARSHIP EUROPE/ ICELAND/ GREENLAND 48 528393 SEE PART VI SCHOLARSHIP RUSSIA 10 114774 SEE PART VI SCHOLARSHIP SUB-SAHARAN AFRICA 12 166279 SEE PART VI SCHOLARSHIP MIDDLE EAST / NORTH AFRICA 7 84766 SEE PART VI SCHOLARSHIP EAST ASIA / PACIFIC 21 206378 SEE PART VI SCHOLARSHIP SOUTH ASIA 11 116179 SEE PART VI SCHOLARSHIP CENT. AMERICA / CARIBBEAN 5 104457 SEE PART VI SCHOLARSHIP NORTH AMERICA 6 22500 SEE PART VI 0 0 0 0 0 0 PART I, LINE 2: IN CASES WHERE FUNDS ARE SPENT AWAY FROM CAMPUS, APPROPRIATE DOCUMENTATION IS REQUIRED TO BE SUBMITTED AND APPROVED TO SUBSTANTIATE THE EXPENSE. PART III, COLUMN (E) GRANT FUNDS AWARDED IN THE FORM OF STUDENT FINANCIAL ASSISTANCE IS CREDITED TO THEIR TUITION ACCOUNT TO ASSIST IN COVERING THE COST OF TUITION. BUC OPEN 33067 14830 18237 500 4440 4824 6704 33067 14830 18237 500 4440 4824 6704 16468 1769 1 STUDENT FINANCIAL ASSISTANCE 1277 24745628 PART I, LINE 2: GRANTS ARE AWARDED IN THE FORM OF FINANCIAL ASSISTANCE TOWARDS THE PAYMENT OF TUITION AND FEES IN WHICH CASE THE GRANT AMOUNTS ARE APPLIED DIRECTLY TO THE STUDENT'S ACCOUNT. OTHER GRANTS ARE AWARDED FOR VARIOUS REASONS TO STUDENTS, FACULTY AND STAFF FOR EDUCATIONAL OR WORK RELATED ACTIVITIES. IN THESE CASES EXPENSE VERIFICATION IS REQUIRED IN THE FORM OF RECEIPTS AND OTHER APPROPRIATE DOCUMENTATION. X X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 DR ANN DAVIES PROVOST & DEAN OF THE COLL 163487 0 0 0 0 0 16287 0 5107 0 184881 0 0 0 DR H SCOTT BIERMAN PRESIDENT 390938 0 39000 0 5000 0 25500 0 9276 0 469714 0 0 0 MR R JEFF PUCKETT VP EXTERNAL AFFAIRS 235878 0 0 0 0 0 24169 0 11074 0 271121 0 0 0 MS NANCY BENEDICT VP ENROLLMENT 142155 0 0 0 0 0 14802 0 9276 0 166233 0 0 0 MS BETH MONTIERO EXEC DIR DEV OPER & GIFT P 138924 0 0 0 0 0 14501 0 11074 0 164499 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS - SPOUSAL TRAVEL IS PAID FOR BY THE COLLEGE WHEN THE SPOUSE ASSISTS THE BELOIT COLLEGE EMPLOYEE WITH THE COLLEGE BUSINESS ACTIVITIES IN PERFORMING SPECIFIC DUTIES. THE ONLY SUCH SPOUSAL TRAVEL PAID FOR BY THE COLLEGE WAS THAT OF THE PRESIDENT'S SPOUSE. ALL EXPENDITURES MADE BY THE COLLEGE FOR TRAVEL OF THE SPOUSE WERE ATTRIBUTABLE TO SPECIFIC DUTIES IN THE FURTHERANCE OF THE MISSION OF THE COLLEGE. HOUSING ALLOWANCE OR RESIDENT FOR PERSONAL USE - AS A CONDITION OF EMPLOYMENT, THE PRESIDENT OF BELOIT COLLEGE IS REQUIRED TO RESIDE IN THE PRESIDENT'S HOUSE. THE PRESIDENT'S HOUSE SERVES BOTH AS A PERSONAL RESIDENCE AS WELL AS A VENUE FOR THE CARRYING ON OF COLLEGE BUSINESS REGULARLY. THE COLLEGE HAS DETERMINED THAT THE VALUE OF THE USE OF THIS PERSONAL RESIDENCE IS NOT CONSIDERED TAXABLE INCOME TO THE PRESIDENT AS PROVIDED FOR IN INTERNAL REVENUE CODE SECTION 119. CONSISTENT WITH THE USE OF THE RESIDENCE AS A VENUE FOR COLLEGE BUSINESS, A PART-TIME HOUSEKEEPER IS ASSIGNED TO CLEAN UP AND ASSISTANCE WITH SUCH USE. A WISC HEALTH & EDUCATIONAL FACILITIES AUTHORITY 391337855 97710BTF9 2010-04-28 28394743 REFINANCE OF 2007 SERIES BOND 1 1 0 B WISC HEALTH & EDUCATIONAL FACILITIES AUTHORITY 391337855 NONEAVAIL 2014-05-09 29775000 CURRENT REFUND BONDS ISSUED APRIL 28, 2010 0 0 0 A 580000 28394743 400960 1983783 26010000 2010 1 0 1 1 B 200000 29775500 75500 29700000 2014 1 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 1 1 CHASE BANK 23.063000000000 0 0 0 0 1 A 1 B 1 X 5 NO VALUE ASSIGNED X NO VALUE ASSIGNED X 40 1311993 COST OR MARKET X 5 NO VALUE ASSIGNED X 1 NO VALUE ASSIGNED X 8 NO VALUE ASSIGNED X COMPUTER SOFT 1 46131 OTHER 0 1 1 PART I, LINE 33: THE COLLEGE, AS A MATTER OF ACCOUNTING POLICY, DOES NOT RECORD REVENUE FOR WORKS OF ART ADDED TO ITS COLLECTIONS, AS ALLOWED UNDER SFAS 116. FURTHERMORE, ITEMS USED AS PROPS IN THE COLLEGE'S THEATER PROGRAM AND USED BOOKS DONATED TO THE COLLEGE'S LIBRARY ARE NOT REPORTED AS REVENUE FOR FINANCIAL STATEMENT PURPOSES. FORM 990, PART III, LINE 1: BELOIT COLLEGE ENGAGES THE INTELLIGENCE, IMAGINATION, AND CURIOSITY OF ITS STUDENTS, EMPOWERING THEM TO LEAD FULFILLING LIVES MARKED BY HIGH ACHIEVEMENT, PERSONAL RESPONSIBILITY, AND PUBLIC CONTRIBUTION IN A DIVERSE SOCIETY. OUR EMPHASIS ON INTERNATIONAL AND INTERDISCIPLINARY PERSPECTIVES, THE INTEGRATION OF KNOWLEDGE WITH EXPERIENCE, AND CLOSE COLLABORATION AMONG PEERS, PROFESSORS, AND STAFF EQUIPS OUR STUDENTS TO APPROACH THE COMPLEX PROBLEMS OF THE WORLD ETHICALLY AND THOUGHTFULLY. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE OF THE BELOIT COLLEGE BOARD OF TRUSTEES ACTS AS THE COMPENSATION COMMITTEE. THERE ARE 5 MEMBERS OF THIS COMMITTEE, THE CHAIR OF THE BOARD, THE CHAIR OF THE BUDGET COMMITTEE, AND 3 MEMBERS ELECTED FROM THE FULL BOARD. THE PROCESS USED TO DETERMINE THE COMPENSATION OF THE PRESIDENT AND TO REVIEW THE COMPENSATION OF THE OFFICERS OF THE COLLEGE IS DETAILED BELOW: 1. MARKET DATA FROM COMPENSATION SURVEYS OF MEMBER COLLEGES OF THE ASSOCIATED COLLEGES OF THE MIDWEST/GREAT LAKES COLLEGES ASSOCIATION (ACM/GLCA), MEMBER COLLEGES OF THE WISCONSIN ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES (WAICU), AND TWENTY COMPARATIVE NATIONAL RESIDENTIAL LIBERAL ARTS COLLEGES BELOIT USES FOR A VARIETY OF PURPOSES ARE USED TO COMPARE THE SALARIES, BENEFITS AND OTHER PERQUISITES OF THE PRESIDENT AND OFFICERS OF THE COLLEGE. 2. THE EXECUTIVE COMMITTEE USES THE MARKET DATA AS PART OF THEIR DECISION PROCESS. PRIOR TO THE SPRING BOARD OF TRUSTEE MEETING THE EXECUTIVE COMMITTEE IS ALSO PROVIDED WITH AN ANNUAL REPORT AND REFLECTION ON THE PREVIOUS YEAR AUTHORED BY THE PRESIDENT. THIS IS DISCUSSED BY THE EXECUTIVE COMMITTEE WITH THE PRESIDENT AND IN EXECUTIVE SESSION AT THEIR SPRING MEETING. FOLLOWING THIS DISCUSSION, THE EXECUTIVE COMMITTEE DECIDES ON A COMPENSATION PROPOSAL TO BRING TO THE FULL BOARD. 3. THE EXECUTIVE COMMITTEE TAKES THEIR RECOMMENDATION REGARDING THE PRESIDENT'S COMPENSATION FOR REVIEW AND CONSIDERATION TO THE FULL BOARD ALSO AT THE SPRING BOARD OF TRUSTEE MEETING. AT THIS MEETING, THE EXECUTIVE COMMITTEE SUMMARIZES THE PRESIDENT'S ANNUAL REPORT, THEIR OWN DELIBERATIONS, AND THE ARGUMENT FOR THE COMPENSATION RECOMMENDATION THEY ARE PROPOSING. 4. ONCE THE COMPENSATION PACKAGE IS APPROVED, IT IS COMMUNICATED TO THE VICE PRESIDENT FOR HUMAN RESOURCES AND OPERATIONS WHO IMPLEMENTS THE DECISION FOR THE NEXT FISCAL YEAR. FORM 990, PART VI, SECTION B, LINE 11 BELOIT COLLEGE'S FORM 990 WAS PREPARED BY AN INDEPENDENT CERTIFIED PUBLIC ACCOUNTING FIRM. A DRAFT OF THE FORM 990 WAS PROVIDED ELECTRONICALLY TO THE BOARD OF TRUSTEES AUDIT COMMITTEE FOR REVIEW AT THE APRIL AUDIT COMMITTEE MEETING. THE APRIL MEETING AGENDA INCLUDED DISCUSSION OF QUESTIONS OR CONCERNS REGARDING THE INFORMATION CONTAINED IN THE FORM 990. ONCE ALL ISSUES AND QUESTIONS REGARDING THE RETURN WERE RESOLVED, THE FORM 990 WAS FINALIZED TO INCORPORATE ANY NECESSARY CHANGES. AN UPDATED VERSION WAS PROVIDED ELECTRONICALLY TO THE CONTROLLER TO DISTRIBUTE TO THE AUDIT COMMITTEE FOR ADDITIONAL MATTERS TO BE ADDRESSED AND RESOLVED. THE FINALIZED VERSION OF FORM 990 WAS FILED WITH THE IRS ON OR BEFORE APRIL 15TH FILING DEADLINE. TO RESPECT THE WISHES OF CERTAIN DONORS TO REMAIN ANONYMOUS, WE HAVE CHOSEN NOT TO PROVIDE A FULL DISCLOSURE COPY OF THE 990 TO THE FULL GOVERNING BOARD OF BELOIT COLLEGE. THE BOARD DOES, HOWEVER, RECEIVE A FULL REPORT LESS THE DONOR NAMES AND ADDRESSES TO REVIEW. A FULL DISCLOSURE COPY, WITH ALL DONOR INFORMATION, WILL BE FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES AND OFFICERS ARE REQUIRED TO COMPLETE CONFLICT OF INTEREST DOCUMENTS ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE COLLEGE PARTICIPATES ANNUALLY IN AN OFFICER COMPENSATION SURVEY CONDUCTED BY THE WISCONSIN ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES (WAICU), AND AN ANNUAL ADMINISTRATIVE SALARY SURVEY CONDUCTED BY THE ASSOCIATED COLLEGES OF THE MIDWEST (ACM) WITH BI-ANNUAL INCLUSION OF THE GREAT LAKES COLLEGE ASSN (GLCA). THE SURVEYS ARE REVIEWED AS A PART OF THE PROCESS FOR DETERMINING ENCUMBENT SALARY INCREASES ANNUALLY. ADDITIONALLY, THE SURVEYS AND INDEPENDENT COMPARABILITY DATA FROM THE WAICU AND ACM/GLCA SCHOOLS WERE UTILIZED TO DETERMINE COMPENSATION FOR HIRING EXECUTIVES, OFFICERS AND KEY STAFF TO FILL VACANCIES. FORM 990, PART VI, SECTION C, LINE 19 AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE COLLEGE'S WEB SITE. OTHER DOCUMENTS MAY BE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 505,156. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUSTS 214,793. INTEREST RATE SWAP GAIN 729,511.