2015-05-14T17:58:29-05:00 2014-06-30 910189318 MOSS ADAMS LLP 4747 EXECUTIVE DRIVE SUITE 1300 SAN DIEGO CA 92121 990 2013-07-01 132981115 OTIS COLLEGE OF ART AND DESIGN OTIS 3106656800 9045 LINCOLN BLVD LOS ANGELES CA 90045 WILLIAM SCHAEFFER VP OF ADMIN AND FIN SERVICES 3106656800 2015-05-14 1 PATRICIA J MAYER P00188643 8586271400 2013 2016-02-25 16:41:14Z KERRY WALK 9045 LINCOLN BLVD LOS ANGELES CA 90045 83546655 0 X WWW.OTIS.EDU X 1918 CA OTIS COLLEGE OF ART AND DESIGN IS A WASC ACCREDITED COLLEGE SPECIALIZING IN ART AND DESIGN EDUCATION, OFFERING BOTH GRADUATE AND UNDERGRADUATE DEGREES. 20 19 1217 0 0 0 2380006 4792379 47614501 45284811 910731 1268159 -300161 -249853 50605077 51095496 12019483 11538450 0 0 25967177 25597760 37000 200775 1773482 12352187 12015625 50375847 49352610 229230 1742886 55383649 63651613 9811569 15295430 45572080 48356183 OTIS PREPARES DIVERSE STUDENTS OF ART AND DESIGN TO ENRICH OUR WORLD THROUGH THEIR CREATIVITY, THEIR SKILL, AND THEIR VISION. 0 0 38002671 11538450 45284811 OTIS PREPARES DIVERSE STUDENTS OF ART AND DESIGN TO ENRICH OUR WORLD THROUGH THEIR CREATIVITY, THEIR SKILL, AND THEIR VISION. THE COLLEGE OFFERS AN INTERDISCIPLINARY EDUCATION FOR 1,084 FULL-TIME STUDENTS, AWARDING ACCREDITED BFA DEGREES IN ADVERTISING, ARCHITECTURE/LANDSCAPE/INTERIORS, DIGITAL MEDIA, FASHION DESIGN, GRAPHIC DESIGN, ILLUSTRATION, PRODUCT DESIGN, PAINTING, PHOTOGRAPHY, SCULPTURE/NEW GENRES, AND TOY DESIGN; AND MFA DEGREES IN FINE ARTS, GRAPHIC DESIGN, PUBLIC PRACTICE, AND WRITING. CONTINUING EDUCATION OFFERS CERTIFICATE PROGRAMS AS WELL AS PERSONAL AND PROFESSIONAL DEVELOPMENT COURSES. 38002671 1 1 0 0 0 0 0 1 0 1 1 0 0 0 0 1 1 0 1 0 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 X 2057 0 1 1217 1 0 0 0 0 0 1 1 0 0 0 0 X 20 19 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 CA X WILLIAM SCHAEFFER 3106656800 9045 LINCOLN BOULEVARD LOS ANGELES CA 90045 KERRY WALK PRESIDENT/EX OFFICIO(EFF 5/16/14) 37.50 X X 175400 0 21579 SAMUEL HOI PRESIDENT/EX OFFICIO (THRU 5/15/14) 37.50 X X 461250 0 36610 THOMAS MILLER CHAIR 1.00 X 0 0 0 SUSAN CRANK VICE CHAIR 1.00 X 0 0 0 RODNEY FREEMAN VICE CHAIR 1.00 X 0 0 0 BOB MCKNIGHT VICE CHAIR 1.00 X 0 0 0 JENNIFER BELLA MAGUIRE TRUSTEE 1.00 X 0 0 0 GAIL BUCHALTER TRUSTEE 1.00 X 0 0 0 STEPHANIE COTA TRUSTEE 1.00 X 0 0 0 ROBERT FELDMAN TRUSTEE 1.00 X 0 0 0 FREDERICK FISHER TRUSTEE 1.00 X 0 0 0 BRONYA GALEF TRUSTEE 1.00 X 0 0 0 BRYANT GARTH TRUSTEE 1.00 X 0 0 0 ELAINE GOLDSMITH TRUSTEE 1.00 X 0 0 0 KIRK HYDE TRUSTEE 1.00 X 0 0 0 LAWRENCE LYTTLE TRUSTEE 1.00 X 0 0 0 WINIFRED WHITE NEISSER TRUSTEE 1.00 X 0 0 0 MEI-LEE NEY TRUSTEE 1.00 X 0 0 0 CHRISTOPHER WICKS TRUSTEE 1.00 X 0 0 0 ROGER WYETT TRUSTEE 1.00 X 0 0 0 DIANE ZIERING TRUSTEE 1.00 X 0 0 0 MARISA ARANGO TRUSTEE (THRU 6/16/14) 1.00 X 0 0 0 GARY CYPRES TRUSTEE (THRU 4/21/14) 1.00 X 0 0 0 DEBORAH LYNN IRMAS TRUSTEE (THRU 12/17/13) 1.00 X 0 0 0 STEPHEN JARCHOW TRUSTEE (THRU 5/20/14) 1.00 X 0 0 0 WENDY WINTROB TRUSTEE (THRU 10/15/13) 1.00 X 0 0 0 RANDALL LAVENDER ACTING PROVOST (EFFECTIVE 5/16/14) 37.50 X 151600 0 22931 DANA LOPEZ VP HUMAN RESOURCES AND DEVELOPMENT 37.50 X 114151 0 36179 WILLIAM SCHAEFFER VP ADMIN. & FINANCIAL SERVICES 37.50 X 186850 0 25541 CARRIE STEWART VP INST. ADVANCEMENT (THRU 1/10/14) 37.50 X 176600 0 20181 DEBRA ANN BALLARD CHAIR, LIBERAL ARTS & SCIENCE 37.50 X 120325 0 19804 ROSEMARY BRANTLEY CHAIR, FASHION 37.50 X 146091 0 26129 KALI NIKITAS CHAIR, GRAPHIC DESIGN 37.50 X 149286 0 22695 ROBERT WALTERS CIO (THRU 4/1/14) 37.50 X 135500 0 21321 CHRISTOPHER WARNER ASSOCIATE PROFESSOR, FOUNDATION 37.50 X 118990 0 9267 1936043 0 262237 21 0 1 0 APPLE ONE PO BOX 29048 GLENDALE CA 91209 STAFFING SERVICES 246944 UNIVERSAL PROTECTION SERVICES 6200 PLAYA VISTA DRIVE PLAYA VISTA CA 90094 SECURITY SERVICES 224292 ALL CARE INDUSTRIES INC 16747-1/2 SOUTH PARKSIDE AVE CERRITOS CA 90703 CLEANING SERVICES 195763 TYPECRAFT INCORPORATED 2040 E WALNUT STREET PASADENA CA 911075804 PRINTING SERVICES 176954 THE BEVERLY HILTON 9876 WILSHIRE BLVD BEVERLY HILLS CA 90210 EVENT RENTAL & CATERING SERVICES 170905 11 907247 22060 3863072 148350 4792379 TUITION AND FEES 611600 44134819 44134819 AUXILIARY ENTERPRISES 900099 1149992 1149992 45284811 1280993 1280993 37250 23337 13913 13913 13913 31846742 22200 31862923 18853 -16181 3347 -12834 -12834 73296 907247 546046 -472750 -472750 OTHER INCOME 900099 208984 208984 208984 51095496 45284811 0 1018306 11538450 11538450 1550210 367655 746960 435595 19416091 15473626 3242669 699796 1106188 860860 208348 36980 2070718 1528932 411078 130708 1454553 1084823 293311 76419 91829 5760 86069 113822 113822 200775 200775 122266 122266 911846 385633 509971 16242 411455 268997 141958 500 1426888 868200 492232 66456 972453 203961 767860 632 3086392 1963482 1112017 10893 1021929 855680 75999 90250 69450 59607 8536 1307 91488 60565 30923 1729868 1145172 584696 321994 91282 230712 STUDENT MEDICAL INSURAN 768446 768446 REPAIRS AND MAINTENANCE 315744 107432 207773 539 EQUIP COST UNDER $1,000 255796 160170 94473 1153 DUES & SUBSCRIPTIONS 195197 150222 39738 5237 108762 53716 55046 49352610 38002671 9576457 1773482 2236525 5884486 8126334 6727336 416563 1806728 125311 435395 983598 1635336 39258905 16244091 21754727 23014814 19191634 21895582 1486590 2046702 126315 118552 936052 86682 55383649 63651613 4840026 4835837 2436543 8290429 2535000 2169164 9811569 15295430 X 27059122 28352711 10026772 11491967 8486186 8511505 45572080 48356183 55383649 63651613 1742886 1041217 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 14414257 25000 2143706 340088 238263 16004612 13698900 22500 1283941 320824 270260 14414257 14019825 228970 189133 445133 293895 13698900 12949145 586500 704872 220692 14019825 11755372 250670 1223617 280514 12949145 0.06250 0.52470 0.41280 0 0 3875677 3875677 19276510 6766391 12510119 1316306 274857 1041449 12456183 9202843 3253340 2334229 2334229 23014814 X 41045380 1041217 569383 1610600 39434780 122266 11538450 11660716 51095496 38261277 569383 569383 37691894 122266 11538450 11660716 49352610 PART III, LINE 1A: THE COLLEGE COLLECTIONS ARE MADE UP OF DONATED ARTWORK OF HISTORICAL SIGNIFICANCE WHICH ARE NOT RECORDED AS ASSETS AND ARE HELD FOR EDUCATIONAL AND CURATORIAL PURPOSES. EACH OF THE ITEMS IS CATALOGED, PRESERVED, AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. THE COLLECTIONS ARE SUBJECT TO A POLICY THAT REQUIRES PROCEEDS FROM THEIR SALES TO BE USED TO FUND ENDOWED SCHOLARSHIPS. PART III, LINE 4: COLLECTIONS ARE: - HELD FOR PUBLIC EXHIBITION, EDUCATION, OR RESEARCH IN FURTHERANCE OF PUBLIC SERVICE RATHER THAN FINANCIAL GAIN - PROTECTED, KEPT UNENCUMBERED, CARED FOR, AND PRESERVED - SUBJECT TO A DONOR POLICY THAT REQUIRES THE PROCEEDS FROM SALES OF COLLECTION ITEMS TO BE USED TO FUND AN ENDOWMENT FUND PART V, LINE 4: OTIS USES FUNDS TO ESTABLISH SCHOLARSHIPS AND FUNDED PROGRAMS. THE AMOUNT OF EARNINGS TO BE SPENT AS SCHOLARSHIPS DEPENDS ON THE FOLLOWING: 1. IF DONOR LETTER IS ON FILE, FOLLOW THE DONOR'S INTENTIONS. 2. IF NO DONOR LETTER IS ON FILE, ACCORDING TO THE BOARD OF TRUSTEES, SPENDING SHOULD NOT EXCEED 4% (PER YEAR) OF BEGINNING PRINCIPAL BALANCE 3. THE AMOUNT TO SPEND ON SCHOLARSHIPS SHOULD NOT EXCEED THE ORIGINAL PRINCIPAL UNLESS SPECIFIED BY DONOR LETTER OR BOARD OF TRUSTEES 4. TRANSFER ENDOWMENT FUNDS TO RESTRICTED FUNDS SCHOLARSHIPS AT THE END OF THE YEAR PART X, LINE 2: THE COLLEGE ADOPTED THE PROVISIONS OF THE ASC 740-10, "INCOME TAXES," RELATING TO ACCOUNTING FOR UNCERTAIN TAX POSITIONS. THE COLLEGE RECOGNIZES THE TAX BENEFIT FROM UNCERTAIN TAX POSITIONS ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITIONS WILL BE SUSTAINED ON EXAMINATION BY THE TAX AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFIT IS MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE COLLEGE FILES AN EXEMPT ORGANIZATION RETURN AND APPLICABLE UNRELATED BUSINESS INCOME TAX RETURN IN THE U.S. FEDERAL JURISDICTION AND WITH THE CALIFORNIA FRANCHISE TAX BOARD. THE COLLEGE IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY TAXING AUTHORITIES FOR YEARS BEFORE 2011 FOR ITS FEDERAL AND 2010 FOR ITS STATE FILINGS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RECLASS SPECIAL EVENT EXPENSE 546,046. RECLASS RENTAL EXPENSES 23,337. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 11,538,450. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASS SPECIAL EVENT EXPENSE 546,046. RECLASS RENTAL EXPENSES 23,337. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 11,538,450. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 OTIS PUBLICIZES ITS RACIALLY NONDISCRIMINATORY POLICY IN ITS COLLEGE CLASS CATALOG THAT IS DISTRIBUTED TO STUDENTS FOR ENROLLMENT AS WELL AS AVAILABLE TO THE GENERAL PUBLIC. IN ADDITION, THE COLLEGE POSTS THIS INFORMATION ON ITS WEBSITE AND INCLUDES IT IN APPLICATION MATERIALS. SCHEDULE E, PART I, LINE 6 OTIS RECEIVED FEDERAL AWARDS FROM THE U.S. DEPARTMENT OF EDUCATION DURING THE YEAR, AND ADMINISTERS LOANS FOR THE PERKINS LOAN PROGRAM. CENTRAL AMERICA AND THE CARRIBEAN 0 0 INVESTMENTS 2046702 0 0 0 0 0 0 2046702 0 2046702 1 0 0 0 0 0 X X X X X X X 1 MARTS & LUNDY 1200 WALL STREET WEST LYNDHURST NJ 07071 0 2982297 200775 2781522 2982297 200775 2781522 CA FASHION SHOW 980543 907247 73296 546046 980543 907247 73296 546046 546046 -472750 SCHEDULE G, PART I, LINE 2B, LIST OF TEN HIGHEST PAID FUNDRAISERS: (II) ACTIVITY: INTERIM MANAGEMENT SERVICES FOR THE COLLEGE'S ADVANCEMENT PROGRAM & CAPITAL CAMPAIGN CONSULTING SERVICES. 1 0 0 STUDENT SCHOLARSHIPS 942 11538450 PART I, LINE 2: ALL STUDENT SCHOLARSHIPS ARE POSTED TO THE STUDENT ACCOUNTS TO PAY FOR TUITION AND FEES BY FINANCIAL AID OFFICE. PER OTIS POLICY, SCHOLARSHIPS BFA/MFA DO NOT EXCEED TUITION AND FEES. X 1 1 X X X X 0 0 0 0 0 0 0 1 0 KERRY WALK PRESIDENT/EX OFFICIO(EFF 5/16/14) 173800 0 1600 0 0 0 12250 0 9329 0 196979 0 0 0 SAMUEL HOI PRESIDENT/EX OFFICIO (THRU 5/15/14) 396673 0 50000 0 14577 0 25333 0 11277 0 497860 0 0 0 RANDALL LAVENDER ACTING PROVOST (EFFECTIVE 5/16/14) 150000 0 1600 0 0 0 15000 0 7931 0 174531 0 0 0 DANA LOPEZ VP HUMAN RESOURCES AND DEVELOPMENT 112551 0 1600 0 0 0 12800 0 23379 0 150330 0 0 0 WILLIAM SCHAEFFER VP ADMIN. & FINANCIAL SERVICES 185250 0 1600 0 0 0 13265 0 12276 0 212391 0 0 0 CARRIE STEWART VP INST. ADVANCEMENT (THRU 1/10/14) 175000 0 1600 0 0 0 12250 0 7931 0 196781 0 0 0 ROSEMARY BRANTLEY CHAIR, FASHION 144491 0 1600 0 0 0 14789 0 11340 0 172220 0 0 0 KALI NIKITAS CHAIR, GRAPHIC DESIGN 147686 0 1600 0 0 0 14764 0 7931 0 171981 0 0 0 ROBERT WALTERS CIO (THRU 4/1/14) 133900 0 1600 0 0 0 13390 0 7931 0 156821 0 0 0 PART I, LINE 1A PRESIDENT AND VPAF HAD GRANDFATHERED BENEFITS PLANS WHICH REQUIRED THE GROSS UP PAYMENT. PART I, LINE 7 ANNUAL BONUS - IN ADDITION TO EMPLOYEE'S BASE SALARY, EMPLOYEE MAY RECEIVE A DISCRETIONARY ANNUAL BONUS IN AN AMOUNT UP TO FIFTY-THOUSAND DOLLARS ($50,000). SUCH ANNUAL BONUS SHALL BE DETERMINED BY THE BOARD AFTER EMPLOYEE'S ANNUAL PERFORMANCE REVIEW CONDUCTED BY THE BOARD OR EXECUTIVE COMMITTEE FOLLOWING THE CLOSE OF EACH FISCAL YEAR OF THE TERM. THE PERFORMANCE REVIEW SHALL BE BASED UPON SUCH CRITERIA AND WEIGHTING AS MAY BE ESTABLISHED FROM TIME TO TIME BY THE BOARD, WITH DUE CONSIDERATION GIVEN TO THE PERFORMANCE OF THE DUTIES OF EMPLOYEE SET FORTH IN EMPLOYMENT AGREEMENT, AND TO EMPLOYEE'S RECORD OF MEETING SPECIFIC GOALS WHICH THE BOARD MAY PROVIDE TO EMPLOYEE IN JULY OF EACH YEAR APPLICABLE TO THE REST OF THAT FISCAL YEAR. A CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK 630304653 2014-06-03 34912500 TO REFINANCE THE 1999 CEFA REVENUE BONDS 0 0 0 A 34912500 2169164 32743336 0 1 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 A 0 1 0 0 1 0 0 0 1 A 1 X 1 2099 COST/SELLING PRICE X EDUC SUPPLIES 44 146251 COST/SELLING PRICE 0 0 1 0 ATTACHMENT TO FORM 926 OTIS COLLEGE OF ART AND DESIGN EIN # 13-2981115 FOR THE TAX YEAR ENDING 6/30/14 ATTACHMENT TO FORM 926 1. TRANSFEROR. OTIS COLLEGE OF ART AND DESIGN 13-2981115 9045 LINCOLN BLVD., LOS ANGELES, CA 90045 2. TRANSFEREE. I. HIRTLE CALLAGHAN ABSOLUTE RETURN OFFSHORE FUND LTD TEMP ASSET NO TIN PO BOX 309 GT, UGLAND HOUSE,SOUTH CHURCH ST. GEORGE TOWN, GRAND CAYMAN, CAYMAN ISLANDS II. DURING THE YEAR, THE TAXPAYER TRANSFERRED A TOTAL OF $300,000 IN CASH TO HIRTLE CALLAGHAN ABSOLUTE RETURN OFFSHORE FUND LTD TEMP ASSET, A CORPORATION INCORPORATED IN THE CAYMAN ISLANDS, IN EXCHANGE FOR A SMALL PERCENT INTEREST IN THE CORPORATION THAT QUALIFIED AS A CODE SECTION 351 TRANSFER. 3. CONSIDERATION RECEIVED. OWNERSHIP INTEREST IN THE TRANSFEREE 4. PROPERTY TRANSFERRED. I. ACTIVE BUSINESS PROPERTY. THE PROPERTY TRANSFERRED TO THE FOREIGN CORPORATION WAS $300,000 IN CASH. II. STOCK OR SECURITIES. NOT APPLICABLE III. DEPRECIATED PROPERTY. NOT APPLICABLE IV. PROPERTY TO BE LEASED. NOT APPLICABLE V. PROPERTY TO BE SOLD. NOT APPLICABLE VI. TRANSFERS TO FSCS NOT APPLICABLE VII. TAINTED PROPERTY. A. INVENTORY, ETC. PROPERTY DESCRIBED IN 1.367(A)-5T(B). NOT APPLICABLE B. INSTALLMENT OBLIGATIONS, ETC. PROPERTY DESCRIBED IN 1.367(A)-5T(C). NOT APPLICABLE C. FOREIGN CURRENCY, ETC. PROPERTY DESCRIBED IN 1.367(A)-5T(D). NOT APPLICABLE D. INTANGIBLE PROPERTY. PROPERTY DESCRIBED IN 1.367(A)-5T(E). NOT APPLICABLE E. LEASED PROPERTY. PROPERTY DESCRIBED IN 1.367(A)-4T(F). NOT APPLICABLE VIII. FOREIGN LOSS BRANCH. NOT APPLICABLE IX. OTHER INTANGIBLES NOT APPLICABLE 5. TRANSFER OF FOREIGN BRANCH WITH PREVIOUSLY DEDUCTED LOSSES. I. BRANCH OPERATION. NOT APPLICABLE II. BRANCH PROPERTY. NOT APPLICABLE III. PREVIOUSLY DEDUCTED LOSSES. NOT APPLICABLE IV. CHARACTER OF GAIN. NOT APPLICABLE 6. APPLICATION OF SECTION 367(A)(5). NOT APPLICABLE OTIS COLLEGE OF ART AND DESIGN EIN # 13-2981115 FOR THE TAX YEAR ENDING 6/30/14 ATTACHMENT TO FORM 926 1. TRANSFEROR. OTIS COLLEGE OF ART AND DESIGN 13-2981115 9045 LINCOLN BLVD., LOS ANGELES, CA 90045 2. TRANSFEREE. I. HIRTLE CALLAGHAN TOTAL RETURN OFFSHORE FUND LP TEMP ASSET NO TIN PO BOX 309 GT, UGLAND HOUSE,SOUTH CHURCH ST. GEORGE TOWN, GRAND CAYMAN, CAYMAN ISLANDS II. DURING THE YEAR, THE TAXPAYER TRANSFERRED A TOTAL OF $125,000 IN CASH TO HIRTLE CALLAGHAN TOTAL RETURN OFFSHORE FUND LP TEMP ASSET, A CORPORATION INCORPORATED IN THE CAYMAN ISLANDS, IN EXCHANGE FOR A SMALL PERCENT INTEREST IN THE CORPORATION THAT QUALIFIED AS A CODE SECTION 351 TRANSFER. 3. CONSIDERATION RECEIVED. OWNERSHIP INTEREST IN THE TRANSFEREE 4. PROPERTY TRANSFERRED. I. ACTIVE BUSINESS PROPERTY. THE PROPERTY TRANSFERRED TO THE FOREIGN CORPORATION WAS $125,000 IN CASH. II. STOCK OR SECURITIES. NOT APPLICABLE III. DEPRECIATED PROPERTY. NOT APPLICABLE IV. PROPERTY TO BE LEASED. NOT APPLICABLE V. PROPERTY TO BE SOLD. NOT APPLICABLE VI. TRANSFERS TO FSCS NOT APPLICABLE VII. TAINTED PROPERTY. A. INVENTORY, ETC. PROPERTY DESCRIBED IN 1.367(A)-5T(B). NOT APPLICABLE B. INSTALLMENT OBLIGATIONS, ETC. PROPERTY DESCRIBED IN 1.367(A)-5T(C). NOT APPLICABLE C. FOREIGN CURRENCY, ETC. PROPERTY DESCRIBED IN 1.367(A)-5T(D). NOT APPLICABLE D. INTANGIBLE PROPERTY. PROPERTY DESCRIBED IN 1.367(A)-5T(E). NOT APPLICABLE E. LEASED PROPERTY. PROPERTY DESCRIBED IN 1.367(A)-4T(F). NOT APPLICABLE VIII. FOREIGN LOSS BRANCH. NOT APPLICABLE IX. OTHER INTANGIBLES NOT APPLICABLE 5. TRANSFER OF FOREIGN BRANCH WITH PREVIOUSLY DEDUCTED LOSSES. I. BRANCH OPERATION. NOT APPLICABLE II. BRANCH PROPERTY. NOT APPLICABLE III. PREVIOUSLY DEDUCTED LOSSES. NOT APPLICABLE IV. CHARACTER OF GAIN. NOT APPLICABLE 6. APPLICATION OF SECTION 367(A)(5). NOT APPLICABLE FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES DOES HAVE THE AUTHORITY TO MAKE DECISIONS ON BEHALF OF THE COLLEGE WITH A FEW EXCEPTIONS AS STATED IN THE BYLAWS: MAY TRANSACT ALL SUCH BUSINESS AND TAKE ALL SUCH ACTION ON BEHALF OF THE CORPORATION WHICH THE BOARD OF TRUSTEES COULD TRANSACT OR TAKE UNDER LAW, EXCEPT TO GRANT DEGREES, TO MAKE REMOVALS FROM OFFICE, TO AMEND OR REPEAL BYLAWS, TO ADOPT NEW BYLAWS, AND TO AMEND OR REPEAL ANY RESOLUTION OF THE BOARD OF TRUSTEES WHICH BY ITS EXPRESS TERMS IS NOT SO AMENDABLE OR REPEALABLE. FORM 990, PART VI, SECTION B, LINE 11 THE FULL 990 IS REVIEWED BY THE CONTROLLER AND THE VICE PRESIDENT FOR FINANCIAL AND ADMINISTRATIVE SERVICES. THEN A FORM 990 WITHOUT DETAILED SCHEDULE B IS MADE AVAILABLE TO THE BOARD OF TRUSTEES FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION WATCHES FOR ANYTHING THAT LOOKS/COULD BE A CONFLICT; ANYTHING THAT FALLS INTO THIS CATEGORY IS IMMEDIATELY INVESTIGATED. IF THERE IS A PERSON WITH A CONFLICT, THEY ARE NOT ALLOWED TO VOTE ON THE TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE PRESIDENT IS REVIEWED ANNUALLY BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 - FINANCIAL STATEMENTS ARE AVAILABLE BY REQUEST VIA MAIL OR E-MAIL. - GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC.