2015-05-14T14:02:14-05:00 2014-06-30 CROWE HORWATH LLP 10 WEST BROAD STREET SUITE 1700 COLUMBUS OH 432153713 990 2013-07-01 314379560 OHIO DOMINICAN UNIVERSITY OHIO 6142514512 1216 SUNBURY ROAD COLUMBUS OH 432192086 CLAIR W KNAPP CPA, VP OF FINANCE & ADMINISTRATION 2015-05-14 true RACHEL SPURLOCK P00520729 6144690001 2013 2016-02-25 16:41:14Z DR PETER CIMBOLIC PHD 1216 SUNBURY ROAD COLUMBUS OH 43219 77738621 false X WWW.OHIODOMINICAN.EDU X 1911 OH AS A CATHOLIC LIBERAL ARTS UNIVERSITY IN THE DOMINICAN TRADITION, OHIO DOMINICAN UNIVERSITY IS GUIDED IN ITS EDUCATIONAL MISSION BY THE DOMINICAN MOTTO: TO CONTEMPLATE TRUTH AND TO SHARE WITH OTHERS THE FRUITS OF THIS CONTEMPLATION. OHIO DOMINICAN UNIVERSITY EDUCATES ALL INDIVIDUALS COMMITTED TO INTELLECTUAL, SPIRITUAL AND PROFESSIONAL GROWTH TO BECOME LIFELONG LEARNERS COMMITTED TO SERVING OTHERS IN A GLOBAL SOCIETY, AS ETHICAL AND EFFECTIVE LEADERS GROUNDED IN THE PURSUIT OF TRUTH, JUSTICE AND PEACE. 32 27 865 46 64090 2824 2108521 2188899 47756638 47422369 2337431 3100580 397134 408013 52599724 53119861 17333533 17725669 0 0 18835935 19467685 0 0 2101861 18970787 17674113 55140255 54867467 -2540531 -1747606 92509282 92145399 54195945 54151728 38313337 37993671 THE MISSION OF OHIO DOMINICAN UNIVERSITY IS THE PROVIDING OF DEGREE AND CONTINUING EDUCATION PROGRAMS FOR THE INTELLECTUAL DEVELOPMENT AND GROWTH IN TRUTH OF EACH STUDENT. IN KEEPING WITH THE DOMINICAN TRADITION, EDUCATIONAL EXPERIENCES ARE GROUNDED IN THE LIBERAL ARTS, FOSTER THE DEVELOPMENT OF SPIRITUAL, AESTHETIC, AND ETHICAL VALUES, PROMOTE PHYSICAL AND MENTAL HEALTH, AND PROVIDE FOR THE DEVELOPMENT AND RESPONSIBLE USE OF HUMAN SKILLS AND TALENTS IN PROFESSIONAL AND SOCIAL SERVICE. false false 43380789 17725669 42037762 POST-SECONDARY EDUCATION INSTRUCTION OF 595 FULL TIME EQUIVALENT (FTE) STUDENTS DURING SUMMER TERM 2013, 1997 FTE DURING FALL SEMESTER 2013 AND 1801 FTE DURING SPRING SEMESTER 2014. 3392149 5752455 AUXILIARY ENTERPRISES ROOM AND BOARD CHARGES FOR 533 RESIDENT STUDENTS. THIS ALSO INCLUDES SOME BOARD CHARGES FOR COMMUTER AND NON-RESIDENT STUDENTS, FACULTY AND STAFF. 46772938 true true false false false false false false true true false false false true true true false true false false false false false true false false false true true true false false false false false false false false false false true false false false false false false false false false true 2937 0 true 865 true true true false false false false true true true 3 false false false X 32 27 false false false false false false false true true false false true true true true true true true true false X CLAIR W KNAPP 6142514512 1216 SUNBURY ROAD COLUMBUS OH 43219 RICHARD MAXWELL VICE CHAIR 1.00 X X 0 0 0 SR JANICE BACHMAN TREASURER 1.00 X X 0 0 0 THOMAS MUELLER BOARD CHAIR 1.00 X X 0 0 0 ANN T GALLAGHER TRUSTEE 1.00 X 0 0 0 CHARLES GEHRING TRUSTEE 1.00 X 0 0 0 DR STERLING HEDRICK TRUSTEE 1.00 X 0 0 0 GUY REECE II TRUSTEE 1.00 X 0 0 0 JAMES YUSKEWICH TRUSTEE 1.00 X 0 0 0 JOHN F KELLEY III TRUSTEE 1.00 X 0 0 0 JONATHAN BEARD TRUSTEE 1.00 X 0 0 0 JONATHAN MICHAEL TRUSTEE 1.00 X 0 0 0 KAREN S DAYS TRUSTEE 1.00 X 0 0 0 MANUEL MARTINEZ PHD TRUSTEE (FACULTY) 1.00 X 58732 0 8255 MARGARET CORBETT SULLIVAN TRUSTEE 1.00 X 0 0 0 MARGARET CORBETT SULLIVAN TRUSTEE 1.00 X 0 0 0 MARK MILLER TRUSTEE (STUDENT) 1.00 X 0 0 0 NANCY RECCHIE TRUSTEE 1.00 X 2200 0 0 PATRICK MCCURDY TRUSTEE 1.00 X 0 0 0 RALPH BREITFELLER TRUSTEE 1.00 X 0 0 0 REV FREDERICK F CAMPBELL TRUSTEE 1.00 X 0 0 0 REV MSGR JOSEPH HENDRICKS TRUSTEE 1.00 X 0 0 0 ROBERT WEILER TRUSTEE 1.00 X 0 0 0 SR BARBARA RAPP TRUSTEE 1.00 X 0 0 0 SR BARBARA SULLIVAN TRUSTEE 1.00 X 0 0 0 SR CATHERINE MAHADY TRUSTEE 1.00 X 0 0 0 SR JOAN SCANLON TRUSTEE 1.00 X 0 0 0 SR JOANNE CANIGLIA TRUSTEE 1.00 X 0 0 0 SR KATHLEEN CANNON TRUSTEE 1.00 X 0 0 0 SR MARIA CIRIELLO TRUSTEE 1.00 X 0 0 0 SR MARY FAITH GEELAN TRUSTEE 1.00 X 0 0 0 SR MARY FAITH GEELAN OP TRUSTEE 1.00 X 0 0 0 THOMAS WINTERS TRUSTEE 1.00 X 1500 0 0 WILLIAM EBBING TRUSTEE 1.00 X 0 0 0 CANDIE LESTER SECRETARY 40.00 X 63045 0 8542 DAVID KOSANOVIC CFO 40.00 X 158882 0 22732 PETER CIMBOLIC PRESIDENT 40.00 X 390118 0 110269 FREDERICK LASSITER CIO 40.00 X 115357 0 31067 MARY ALICE MILLER VICE PRESIDENT ADVANCEMENT 40.00 X 122593 0 27858 RONALD CARSTENS FACULTY 40.00 X 108361 0 26338 THERESA HOLLERAN VICE PRESIDENT ACADEMIC AFFAIRS 40.00 X 134864 0 26766 WILLIAM CONLEY HEAD FOOTBALL COACH 40.00 X 110044 0 11379 1265696 0 273206 8 true true false SODEXO INC 9801 WASHINGTON BLVD GAITHERSBURG MD 20878 DINING & FACILITIES MANAGEMENT 4845206 VAUGHN LAUGHLIN INC 108 HIDDEN HILLS DR PATASKALA OH 43062 CONTRACTOR 310252 ELLUCIAN INC 62814 COLLECTIONS CENTER DR CHICAGO IL 60693 SOFTWARE & LICENSES 195525 LAKEFRONT LINES INC PO BOX 360556 COLUMBUS OH 43236 TRAVEL SERVICES 122555 BRECOH GA LLC 3675 CREWTWOOD PKWY STE 350 DULUTH GA 30096 PROPERTY MANAGEMENT 119977 6 0 0 122664 0 702814 1363421 65464 2188899 TUITION AND FEES 611310 41669914 41669914 AUXILIARY ENTERPRISES-ROOM AND BOARD 611310 5752455 5752455 0 0 0 0 0 0 0 47422369 552221 552221 0 0 0 0 0 26900924 143389 24438658 57296 2462266 86093 2548359 2548359 98881 122664 122806 -23925 -23925 0 0 0 0 INSURANCE REIMBURSEMENT 900099 190477 190477 OHIO TIF 900099 40349 40349 SPORTING EVENT TICKET SALES 711210 25381 25381 175731 111641 64090 0 431938 53119861 47790217 64090 3076655 0 0 17725669 17725669 0 0 0 0 824276 70687 503395 250194 0 0 0 0 14543126 12148427 1553551 841148 855484 748058 80555 26871 1911501 1487715 292838 130948 1333298 989544 238730 105024 2408239 1953353 337543 117343 8872 0 8872 0 75000 0 75000 0 0 0 0 0 0 0 202737 0 202737 0 3819250 3340713 405729 72808 557241 134335 419077 3829 1635599 1229216 270517 135866 372975 160943 141355 70677 0 1807938 1505994 256176 45768 514754 472728 30114 11912 0 0 0 0 327886 214272 95620 17994 1264387 1036797 164370 63220 0 0 0 0 3512446 2880206 456618 175622 285761 70073 215688 0 REPAIRS & MAINTENANCE 213511 175079 27756 10676 STUDENT ACTIVITIES EXPENSE 68978 68978 0 0 VEHICLE EXPENSE 96041 78754 12485 4802 BAD DEBT EXPENSE 149330 0 149330 0 353168 281397 54612 17159 54867467 46772938 5992668 2101861 0 53639 9760 5673119 4071356 312038 207800 947040 927747 0 0 0 0 2304738 2632541 49228 44819 25176 10933 99963812 44610464 57433998 55353348 23772771 27149602 0 0 0 0 500000 250000 1437535 1487493 92509282 92145399 1159031 1047545 2324027 2728382 40570000 39805000 0 0 6972398 7557362 3170489 3013439 54195945 54151728 X 20966688 18594903 6708376 8568425 10638273 10830343 38313337 37993671 92509282 92145399 X -1747606 1161112 266828 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19708002 132395 3235387 574298 244120 22257366 17878350 471729 2701942 861469 482550 19708002 19145931 43194 -657895 426610 226270 17878350 16633135 27335 3120530 409528 225541 19145931 15118689 115676 1920190 305870 215550 16633135 0.24000 0.58000 0.18000 true false 7400897 7400897 76138700 30566455 45572245 0 0 16080398 14044009 2036389 343817 343817 55353348 0 CONTRIBUTIONS PAYABLE 106646 FAIR VALUE OF INTEREST RATE SWAP 2906793 3013439 X 36619395 1161112 271828 1432940 35186455 202737 17730669 17933406 53119861 36939061 0 0 36939061 202737 17725669 17928406 54867467 Schedule D, Part V, Line 4, Intended uses of endowment funds THE ENDOWMENT IS MAINTAINED PRIMARILY FOR THE BENEFIT OF STUDENTS WHOM DISBURSEMENTS ARE MADE FOR SCHOLARSHIPS. A PORTION OF THE ENDOWMENT IS AVAILABLE FOR OPERATIONS ONLY IF THE BOARD OF TRUSTEES AUTHORIZES SUCH USE. Schedule D, Part X, Line 2, FIN 48 (ASC 740) footnote THE INTERNAL REVENUE SERVICES HAS RULED THAT THE UNIVERSITY IS A TAX-EXEMPT EDUCATIONAL INSTITUTION UNDER § 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN §501(C)(3). ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA PRESCRIBES RECOGNITION THRESHOLDS AND MEASUREMENT ATTRIBUTES FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN TAX BENEFITS WILL BE RECOGNIZED ONLY IF A TAX POSITION IS MORE-LIKELY-THAN-NOT SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED WILL BE THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE MORE-LIKELY-THAN-NOT TEST, NO TAX BENEFIT WILL BE RECORDED. MANAGEMENT HAS CONCLUDED THAT THEY ARE UNAWARE OF ANY TAX BENEFITS OR LIABILITIES TO BE RECOGNIZED AT JUNE 30, 2014 OR 2013. THE UNIVERSITY WOULD RECOGNIZE INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST AND INCOME TAX EXPENSE, RESPECTIVELY. THE UNIVERSITY HAS NO AMOUNTS ACCRUED FOR INTEREST OR PENALTIES FOR THE YEAR ENDED JUNE 30, 2014 OR 2013. THE UNIVERSITY IS NO LONGER SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR YEARS BEFORE 2010. THE UNIVERSITY DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS TO SIGNIFICANTLY CHANGE IN THE NEXT 12 MONTHS. Schedule D, Part XI, Line 2d, Other revenues in audited financial statements not in form 990 CHANGE IN FV OF BENEFICIAL INTERESTS IN ASSETS - 81560; CHANGE IN FV OF INTEREST RATE SWAP - 172056; CHANGE IN FV OF LIFE INSURANCE - 18212; Schedule D, Part XI, Line 4b, Other revenues in form 990 not in audited financial statements STUDENT FINANCIAL AID - 17725669; UNCOLLECTABLE PLEDGES - 5000; Schedule D, Part XII, Line 4b, Other expenses in form 990 not in audited financial statements STUDENT FINANCIAL AID - 17725669; true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3, Racially nondiscriminatory policy OHIO DOMINICAN UNIVERSITY IS IN COMPLIANCE WITH REVENUE PROCEDURE 75-50. THE UNIVERSITY PUBLISHES A NOTICE OF ITS NON-DISCRIMINATORY POLICY WITH THE MEDIA PERIODICALLY THROUGHOUT THE YEAR AND PUBLICLY DISCLOSES THIS POLICY ON ITS WEBSITE. THIS POLICY IS ALSO PRINTED IN THE UNIVERSITY CATALOG WHICH IS DISTRIBUTED TO PROSPECTIVE STUDENTS AND ON OUR FINANCIAL AND AWARD NOTICES THAT ARE ISSUED TO CURRENTLY ENROLLED STUDENTS. Schedule E, Part I, Line 6a, Financial aid or assistance from a governmental agency OHIO DOMINICAN UNIVERSITY RECEIVES FEDERAL AND STATE FUNDS IN RESPECT TO STUDENT FINANCIAL AID AND GRANTS FOR SPECIFIC UNIVERSITY PROJECTS. BLACK & GOLD 195870 107033 88837 40139 40410 29956 GOLF TEAM GOLF OUTING 12070 6049 6021 1523 6015 2 13605 9582 4023 2347 2416 221545 122664 98881 0 40139 0 44280 0 38387 122806 -23925 true FEDERAL WORK STUDY PROGRAM 160 148135 SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS 131 111755 OHIO DOMINICAN UNIVERSITY ACADEMIC SCHOLARSHIP 218 336049 OHIO DOMINICAN UNIVERISTY GENERAL GRANTS 2753 16344661 STAFF/EMPLOYEE BENEFITS AND OTHER DISCOUNTS 360 785069 Schedule I, Part I, Line 2, Procedures for monitoring use of grant funds SCHOLARSHIPS, GRANTS AND LOANS ARE AWARDED BASED ON NEED (AS DETERMINED BY A STANDARDIZED FINANCIAL AID FORM), ACADEMIC ACHIEVEMENT AND/OR LEADERSHIP. RECIPIENTS ARE CHOSEN BASED ON OBJECTIVE CRITERIA WHICH ARE CONSISTENT WITH THE OVERALL TAX-EXEMPT PURPOSE OF THE UNIVERSITY. THE UNIVERSITY DOES NOT DISCRIMINATE ON THE BASIS OF SEX, RACE, COLOR, OR NATIONAL OR ETHNIC ORIGIN IN THE ADMINISTRATION OF ITS FINANCIAL AID PROGRAMS. ANY ESTIMATES UTILIZED ARE BASED ON CALCULATED AVERAGE AWARDS EXTENDED TO COMPARABLE GROUPS. ALL AWARDS ARE DISBURSED DIRECTLY TO THE UNIVERSITY AND NOT TO THE RECIPIENT. X X true true X X X X false true false false false false false false false DAVID KOSANOVIC CFO 158882 0 0 0 0 0 13557 0 9175 0 181614 0 0 0 PETER CIMBOLIC PRESIDENT 390118 0 0 0 0 0 79006 0 31263 0 500387 0 0 0 MARY ALICE MILLER VICE PRESIDENT ADVANCEMENT 122593 0 0 0 0 0 10882 0 16976 0 150451 0 0 0 THERESA HOLLERAN VICE PRESIDENT ACADEMIC AFFAIRS 134864 0 0 0 0 0 11782 0 14984 0 161630 0 0 0 Schedule J, Part I, Line 1a, Housing allowance or residence for personal use A HOUSING ALLOWANCE IS PAID TO THE PRESIDENT AS PART OF THE COMPENSATION AGREEMENT. THE ALLOWANCE IS TREATED AS TAXABLE COMPENSATION. Schedule J, Part I, Line 1a, Health or social club dues or initiation fees A COUNTRY CLUB BUSINESS MEMBERSHIP IS HELD BY THE UNIVERSITY FOR USE BY THE PRESIDENT, STAFF MEMBERS AND FOR UNIVERSITY EVENTS. USE IS STRICTLY FOR BUSINESS PURPOSES, THUS IS NOT TREATED AS TAXABLE COMPENSATION. Schedule J, Part I, Line 4b, Supplemental nonqualified retirement plan A CONTRIBUTION IN THE AMOUNT OF $50,000 WAS MADE TO THE COLLEGE PRESIDENT'S SECTION 457(F) DEFERRED COMPENSATION PLAN. A OHIO HIGHER EDUCATIONAL FACILITY COMMISSION OHIO BOARD OF REGENTS 346849674 2014-01-29 39805000 REFINANCING OF 2007 BOND ISSUE false false false A 0 0 39805000 0 0 9255 305745 0 0 0 39490000 0 2015 true false true true A false false true true false 0.00000 0.00000 0.00000 false false true A false true false false true true KEY BANK 5.0 false false false false true A true SCHEDULE K, PART III, LINE 3A, PRIVATE BUSINESS USE- MANAGEMENT CONTRACTS THE ORGANIZATION HAS MANAGEMENT/SERVICE CONTRACTS THAT RELATE TO BOND FINANCED SPACE THAT QUALIFY UNDER THE SAFE HARBOR EXCEPTIONS OF THE APPLICABLE REGULATIONS. SCHEDULE K, PART III, LINE 9, WRITTEN PROCEDURES THE ORGANIZATION HAS ADOPTED WRITTEN PROCEDURES TO ENSURE ALL NON-QUALIFIED BONDS (IF ANY) OF THE ISSUE ARE RE-MEDIATED IN ACCORDANCE WITH THE ASSOCIATED REGULATIONS. THE ORGANIZATION STRIVES TO STAY ABREAST OF FEDERAL REGULATIONS AND CONSIDERS THE REPERCUSSIONS OF ALL SIGNIFICANT ACTIVITIES WHICH COULD FORSEEABLY HAVE AN IMPACT ON THE ORGANIZATION'S TAX EXEMPT BONDS AND THE ASSOCIATED FEDERAL TAX REGULATIONS. SCHEDULE K, PART IV, LINE 7, WRITTEN PROCEDURES THE ORGANIZATION HAS ADOPTED WRITTEN PROCEDURES TO MONITOR THE ORGANIZATION'S ABILITY TO REMAIN IN COMPLIANCE WITH THE ARBITRAGE REQUIREMENTS UNDER SECTION 148 OF THE INTERNAL REVENUE CODE. THE ORGANIZATION STRIVES TO STAY ABREAST OF FEDERAL REGULATIONS AND CONSIDERS THE REPERCUSSIONS OF ALL SIGNIFICANT ACTIVITIES WHICH COULD FORSEEABLY HAVE AN IMPACT ON THE ORGANIZATION'S TAX EXEMPT BONDS AND THE ASSOCIATED FEDERAL TAX REGULATIONS. SCHEDULE K, PART V, WRITTEN PROCEDURES THE ORGANIZATION HAS ADOPTED WRITTEN PROCEDURES WHICH DICTATE HOW MANAGEMENT TIMELY IDENTIFIES AND CORRECTS VIOLATIONS OF FEDERAL TAX REQUIREMENTS USING THE VOLUNTARY CLOSING AGREEMENT PROGRAM PROVIDED BY THE IRS WHEN SELF-REMEDIATION IS NOT AVAILABLE TO THE ORGANIZATION. THE ORGANIZATION STRIVES TO STAY ABREAST OF FEDERAL REGULATIONS AND CONSIDERS THE REPERCUSSIONS OF ALL SIGNIFICANT ACTIVITIES WHICH COULD FORSEEABLY HAVE AN IMPACT ON THE ORGANIZATION'S TAX EXEMPT BONDS AND THE ASSOCIATED FEDERAL TAX REGULATIONS. IN THE EVENT A VIOLATION IS IDENTIFIED THE ORGANIZATION'S POLICY IS TO CORRECT THE VIOLATION AS SOON AS POSSIBLE, WHILE WORKING WITH THE FEDERAL AUTHORITIES AS NECESSARY TO ENSURE THAT SUFFICIENT CONTROLS ARE PRESENT WHICH WILL GUARD AGAINST FUTURE VIOLATIONS. Schedule K, Part V, ISSUER NAME: OHIO HIGHER EDUCATIONAL FACILITY COMMISSION OHIO BOARD OF REGENTS THE ORGANIZATION HAS ADOPTED WRITTEN PROCEDURES WHICH DICTATE HOW MANAGEMENT TIMELY IDENTIFIES AND CORRECT VIOLATIONS OF FEDERAL TAX REQUIREMENTS USING THE VOLUNTARY CLOSING AGREEMENT PROVIDED BY THE IRS WHEN SELF-REMEDIATION IS NOT AVAILABLE TO THE ORGANIZATION. THE ORGANIZATION STRIVES TO STAY ABREAST OF FEDERAL REGULATIONS AND CONSIDERS THE REPERCUSSIONS OF ALL SIGNIFICANT ACTIVITIES WHICH COULD HAVE IMPACT ON THE ORGANIZATION'S TAX EXEMPT BONDS AND THE ASSOCIATED FEDERAL TAX REGULATIONS. IN THE EVENT A VIOLATION IS IDENTIFIED THE ORGANIZATION'S POLICY IS TO CORRECT THE VIOLATION AS SOON AS POSSIBLE, WHILE WORKING WITH THE FEDERAL AUTHORITIES AS NECESSARY TO ENSURE THAT SUFFICIENT CONTROLS ARE PRESENT WHICH WILL GUARD AGAINST FUTURE VIOLATIONS. X 3 65464 MARKET VALUE 3 false true false Schedule M, Part I, Explanations of reporting method for number of contributions SECURITIES - PUBLICLY TRADED: 3 CONTRIBUTIONS OF STOCK FROM 3 DIFFERENT INDIVIDUALS WERE RECEIVED IN FY2014 Schedule M, part I, column (b), Line 9, Number of contributions or items contributed. 3 CONTRIBUTIONS OF STOCK FROM 3 DIFFERENT INDIVIDUALS WERE RECEIVED IN FY2014 Form 990, Part VI, Sec A, Line 1a, Delegate broad authority to a committee ARTICLE IV PROCEDURES, SECTION 6. COMMITTEES: B. THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE CHAIRPERSON OF THE BOARD WHO SHALL SERVE AS ITS CHAIRPERSON, THE PRESIDENT OF THE UNIVERSITY, THE PRIORESS OF THE CONGREGATION, OR DESIGNEE, THE VICE CHAIRPERSON OF THE BOARD, THE CHAIRPERSON-ELECT AND THE CHAIRPERSON OF EACH OF THE DULY CONSTITUTED STANDING COMMITTEES. IT SHALL BE SUBORDINATE AND RESPONSIBLE TO THE BOARD OF TRUSTEES AND, SUBJECT TO THE LIMITATIONS SET FORTH HEREIN, SHALL HAVE ALL THE POWERS AND DUTIES OF THE BOARD BETWEEN THE REGULAR MEETINGS; PROVIDED, THAT THE EXECUTIVE COMMITTEE SHALL ONLY CONSIDER AND ACT ON THOSE MATTERS THAT CANNOT BE DEFERRED UNTIL THE NEXT MEETING OF THE BOARD OF TRUSTEES; AND PROVIDED FURTHER, THAT THE EXECUTIVE COMMITTEE SHALL NOT HAVE POWER UNDER ANY CIRCUMSTANCES TO CHANGE THE CHARTER OR THE REGULATIONS, TO EFFECT ANY MAJOR CHANGES IN THE PURPOSES OR OPERATION OF THE UNIVERSITY, OR TO AUTHORIZE ANY PURCHASE, SALE OR OTHER DISPOSITION OF THE PROPERTIES OF THE UNIVERSITY OR TO TAKE ANY ACTION SPECIFICALLY RESERVED TO THE ENTIRE BOARD BY THESE REGULATIONS. A QUORUM SHALL CONSIST OF A MAJORITY OF THE COMMITTEE. Form 990, Part VI, Sec B, Line 11b, Review of form 990 by governing body A COPY OF THE IRS FORM 990 IS PROVIDED ELECTRONICALLY OR TO FINANCE COMMITTEE OF THE BOARD OF TRUSTEES PRIOR TO FILING THE FORM. EACH VOTING MEMBER OF THE FINANCE COMMITTEE IS ASKED TO REVIEW THE FORM 990 AND SUBMIT ANY QUESTIONS AND COMMENTS TO MANAGEMENT FOR REVIEW. QUESTIONS AND RESPONSES ARE COMMUNICATED BY MANAGEMENT TO THE FINANCE COMMITTEE. Form 990, Part VI, Sec B, Line 12c, Conflict of interest policy ALL OFFICERS AND DIRECTORS OF THE ORGANIZATION ARE APPRAISED OF THE ORGANIZATION'S CONFLICT OF INTEREST POLICY WHEN HIRED OR ADMITTED TO THE BOARD OF TRUSTEES. ANNUALLY, EACH MEMBER OF THE BOARD OF TRUSTEES IS REQUIRED TO COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE AND IDENTIFY ANY POTENTIAL CONFLICTS OF INTEREST. IF A CONFLICT WERE TO ARISE, THE OFFICERS AND DIRECTORS AFFECTED WOULD BE PROHIBITED FROM CONDUCTING ANY OF THE ORGANIZATION'S BUSINESS RELATED TO THE CAUSE OF THE CONFLICT OF INTEREST AND WOULD RECUSE THEMSELVES FROM THE PROCEEDINGS. Form 990, Part VI, Sec B, Line 15a, Process to establish compensation of top management official A FORMAL REVIEW OF THE PRESIDENT'S PERFORMANCE, INCLUDING A REVIEW OF ANNUAL GOALS AND THE PRESIDENT'S SELF APPRAISAL, IS CONDUCTED BY AN APPOINTED REVIEW COMMITTEE OF THE BOARD OF TRUSTEES. THE REVIEW COMMITTEE CONSISTS OF THE CHAIRMAN OF THE BOARD, THE TRUSTEE DESIGNATED BY THE PRIORESS OF THE CONGREGATION, THE VICE-CHAIRMAN, AND THE TREASURER OF THE BOARD. THIS COMMITTEE REPORTS THE RESULTS OF THE ANNUAL REVIEW TO THE EXECUTIVE COMMITTEE AT ITS SEPTEMBER MEETING. IN ADDITION, THE BOARD SECRETARY GATHERS SALARY BENCHMARKING INFORMATION BY COLLECTING DATA FROM THE CHRONICLE OF HIGHER EDUCATION, CATHOLIC PEER GROUP COLLEGE, AND GUIDESTAR. THIS COMPARABILITY DATA IS USED BY THE REVIEW COMMITTEE OF THE BOARD OF TRUSTEES WHEN DETERMINING ANY SALARY AND BENEFITS ADJUSTMENTS WITHIN THE RANGES ESTABLISHED FOR THE PRESIDENT. CONTEMPORANEOUS RECORDS OF THE DELIBERATIONS AND THE DECISION ARE KEPT IN THE FORM OF MEETING MINUTES. THIS PROCESS WAS LAST UNDERTAKEN IN FISCAL YEAR 2014. Form 990, Part VI, Sec B, Line 15b, Process to establish compensation of other employees FOR THE VICE PRESIDENTS OF THE ORGANIZATION, THE DIRECTOR OF HUMAN RESOURCES CONDUCTS A SALARY BENCHMARKING STUDY BY COLLECTING DATA FROM COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION FOR HUMAN RESOURCES (CUPA). AN INTERNAL EQUITY ANALYSIS IS MADE CONSIDERING PERFORMANCE, YEARS IN POSITION AND OTHER FACTORS. SALARY ADJUSTMENTS ARE TYPICALLY MADE ON AN ANNUAL BASIS FOR THE VICE PRESIDENTS AS DETERMINED BY THE PRESIDENT OF THE ORGANIZATION. SALARY INCREASES FOR THE VICE PRESIDENT OF FINANCE & ADMINISTRATION AND THE VICE PRESIDENT OF ACADEMIC AFFAIRS ARE PRESENTED TO, APPROVED BY, AND DOCUMENT BY THE BOARD OF TRUSTEES. THIS PROCESS WAS LAST UNDERTAKEN IN FISCAL YEAR 2014. Form 990, Part VI, Sec C, Line 19, Required documents available to the public COPIES OF GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES, AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE FROM THE FINANCIAL AND ADMINISTRATIVE OFFICES OF THE UNIVERSITY. Form 990 , Part XI, Line 9, Other changes in net assets or fund balances CHANGE IN FV OF INTEREST RATE SWAP - 172056; CHANGE IN FV OF BENEFICIAL INTEREST IN ASSETS HELD BY OTHERS - 81560; CHANGE IN FV OF LIFE INSURANCE - 18212; UNCOLLECTIBLE PLEDGES WRITTEN OFF - -5000;