2014-11-12T10:08:45-06:00 2014-06-30 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 777 E WISCONSIN AVENUE 32ND FLOOR MILWAUKEE WI 53202 990 2013-07-01 390806325 CARROLL UNIVERSITY INC CARR 2625247200 100 N EAST AVENUE WAUKESHA WI 53186 RONALD LOSTETTER VP OF FINANCE 2625247200 2014-11-11 1 TROY E MARINE CPA P00187863 4147775500 2014-11-10 2013 2015-11-30 17:44:51Z DOUGLAS HASTAD 100 N EAST AVENUE WAUKESHA WI 53186 161937562 0 X WWW.CARROLLU.EDU X 1846 WI CARROLL UNIVERSITY PROVIDES A SUPERIOR EDUCATION, ROOTED IN ITS PRESBYTERIAN AND LIBERAL ARTS HERITAGE, AND DRAWS UPON ITS CHRISTIAN TRADITION TO PREPARE ALL STUDENTS FOR VOCATIONAL SUCCESS, LIFELONG LEARNING AND SERVICE IN A DIVERSE AND GLOBAL SOCIETY. 26 25 3250 25 434972 -86714 5590290 5799011 95685765 98905166 4321459 10563585 66930 242811 105664444 115510573 32126006 32968139 0 0 1606956 1808948 120434 139107 1473567 60112844 64266231 93966240 99182425 11698204 16328148 160393389 176911844 21098332 22115206 139295057 154796638 X CARROLL UNIVERSITY PROVIDES A SUPERIOR EDUCATION, ROOTED IN ITS PRESBYTERIAN AND LIBERAL ARTS HERITAGE, AND DRAWS UPON ITS CHRISTIAN TRADITION TO PREPARE ALL STUDENTS FOR VOCATIONAL SUCCESS, LIFELONG LEARNING AND SERVICE IN A DIVERSE AND GLOBAL SOCIETY. 1 0 28704825 83911210 INSTRUCTION & ACADEMIC SUPPORT - SERVICES PROVIDED TO SUPPORT STUDENTS IN THE CLASSROOM AND SUPPORT OF CLASSROOM. 59301703 32968139 14993956 AUXILIARY & STUDENT SERVICES - SERVICES PROVIDED TO STUDENTS NOT RELATED TO THE CLASSROOM SUCH AS DORMITORY CHARGES AND BOARD PLANS AND SERVICES TO STUDENTS THAT ARE RELATED TO ACTIVITIES OUTSIDE THE CLASSROOM SUCH AS ATHLETICS, FINANCIAL AID AND ADMISSION. 6984650 INSTITUTIONAL SUPPORT - SERVICES THAT SUPPORT THE ADMINISTRATIVE FUNCTIONS OF THE INSTITUTION INCLUDING DEPRECIATION, DEPLETION AND AMORTIZATION. 94991178 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 88 0 3250 1 1 1 0 0 0 0 1 1 0 0 0 0 X 26 25 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 AK CO IL KY LA ME MD MA MI NV NH ND NY OR WA WI DC MS OH SD SC IA X RONALD LOSTETTER 2625247200 100 N EAST AVENUE WAUKESHA WI 53186 ALICE CROFTS MORAVA TRUSTEE 1.00 X 0 0 0 ANTHONY BRYANT TRUSTEE 1.00 X 0 0 0 CHARMAINE PONKRATZ TRUSTEE 1.00 X 0 0 0 CINDY MAYORAS TRUSTEE 1.00 X 0 0 0 DEBORAH BLOCK TRUSTEE 1.00 X 0 0 0 DENNIS PUNCHES TRUSTEE 1.00 X 0 0 0 GUY DISPIGNO TRUSTEE 1.00 X 0 0 0 JACK LOPPNOW TRUSTEE 1.00 X 0 0 0 JAMES DEJONG TRUSTEE 1.00 X 0 0 0 JAMES SCHNEIDER TRUSTEE 1.00 X 0 0 0 JOANNE BRANDES TRUSTEE 1.00 X 0 0 0 JOSE OLIVIERI TRUSTEE 1.00 X 0 0 0 PERSHING E MACALLISTER TRUSTEE 1.00 X 0 0 0 RUSSELL HARLAND TRUSTEE 1.00 X 0 0 0 TED BAKER TRUSTEE 1.00 X 0 0 0 TERRY M MURPHY TRUSTEE 1.00 X 0 0 0 TIMOTHY HANDO TRUSTEE 1.00 X 0 0 0 TIMOTHY SULLIVAN TRUSTEE 1.00 X 0 0 0 TY TAYLOR TRUSTEE 1.00 X 0 0 0 DORVAL CARTER TRUSTEE 1.00 X 0 0 0 LYNDA JOHNSON TRUSTEE 1.00 X 0 0 0 RENEE RAMIREZ TRUSTEE 1.00 X 0 0 0 HOWARD FULLER TRUSTEE 1.00 X 0 0 0 JOSEPH ZVESPER TRUSTEE 1.00 X 0 0 0 REYNOLDS CHALLONER TRUSTEE 1.00 X 0 0 0 JEFFERSON DEANGELIS TRUSTEE 1.00 X 0 0 0 DOUGLAS HASTAD PRESIDENT 40.00 X 408719 0 80144 JAMES V WISEMAN III VP FOR ENROLLMENT 40.00 X 256852 0 30230 JOANNE PASSARO VP FOR ACADEMIC AFFAIRS 40.00 X 301754 0 47273 RONALD LOSTETTER VP OF FINANCE 40.00 X 319122 0 62274 STEPHEN KUHN VP OF ADVANCEMENT 40.00 X 262699 0 39881 DEBRA JENKINS CHIEF INFORMATION OFFICER 40.00 X 151730 0 28547 GREGORY KUHLEMEYER ASSOC. PROF. OF BUSINESS 40.00 X 134698 0 13341 JANE HOPP DEAN, DIV OF NATURAL & HLT 40.00 X 142733 0 14789 JOSEPH BAKER DIR. OF INTERCOLLEGIATE ATHLETICS 40.00 X 157075 0 15520 THERESA BARRY DEAN OF STUDENTS 40.00 X 162432 0 30262 2297814 0 362261 16 0 1 0 TIME WARNER CABLE 1320 DR MARTIN LUTHER KING DRIVE MILWAUKEE WI 53212 CABLE 153626 JENZABAR 1450 TECHNOLOGY DRIVE HARRISONBURG VA 22802 HIGHER EDUCATION SOFTWARE 112708 2 45745 1292503 4460763 102235 5799011 TUITION AND FEES 900099 83911210 83911210 AUXILIARY ENTERPRISES 611710 14993956 14993956 98905166 2590607 2590607 54373591 46400613 7972978 7972978 7972978 22550 45745 26376 -3826 -3826 SUMMER CONFERENCES 721000 434972 434972 OTHER INCOME 900099 -188335 -188335 246637 115510573 98905166 434972 10371424 32968139 32968139 1808948 1612989 195959 139107 139107 3676072 3031685 644387 INSTRUCTION 19381662 19381662 AUXILIARY ENTERPRISES 14221333 14221333 STUDENT SERVICES 10543572 10543572 INSTITUTIONAL SUPPORT 8123151 6984650 1138501 8320441 7860137 460304 99182425 94991178 2717680 1473567 1375007 1373847 5250810 6564938 3046742 3129916 3825671 3831153 1157796 1161105 117140703 55766054 59243317 61374649 85738028 98748943 756018 727293 160393389 176911844 3396844 4666211 752912 1154724 9646383 8880712 7302193 7413559 21098332 22115206 X 68288634 75205797 35546284 43517239 35460139 36073602 139295057 154796638 160393389 176911844 X 16328148 -1081498 254930 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 46263856 456889 6894398 1441757 52173386 41570137 577484 5505951 1389716 46263856 41922315 454296 419651 1226125 41570137 32697229 2792396 6432690 41922315 28642168 1197554 2857507 32697229 0.67000 0.33000 1 0 5968918 5968918 72640814 31371433 41269381 6499283 3125096 3374187 20208116 13068730 7139386 11823572 8200795 3622777 61374649 LIABILITIES UNDER SPLIT INTEREST AGREEMENTS 1153379 DEFERRED COMPENSATION 823030 ASSET RETIREMENT OBLIGATION 2834649 U.S. GOVERNMENT GRANTS REFUNDABLE 2512234 OTHER LIABILITIES 90267 7413559 X 82148485 -1081498 254930 -826568 82975053 32535520 32535520 115510573 66646904 432619 432619 66214285 32968139 32968139 99182424 PART V, LINE 4: THE ENDOWMENT FUNDS ARE USED TO SUPPORT ACADEMIC PROGRAMS AND SCHOLARSHIPS. PART X, LINE 2: THE UNIVERSITY FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THE 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 UNIVERSITY FOR UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2014 AND 2013. THE TAX RETURNS FOR THE CURRENT YEAR AS WELL AS FISCAL YEARS 2011 AND THEREAFTER ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGES IN VALUES OF SPLIT INTEREST AGREEMENTS 254,930. PART XI, LINE 4B - OTHER ADJUSTMENTS: OTHER DIRECT FUND RAISING EXPENSE -26,376. GRANTS AND OTHER ASSISTANCE TO INDIVIDUALS 32,968,139. EXCESS WITHDRAWALS OVER INCOME EARNED -406,243. PART XII, LINE 2D - OTHER ADJUSTMENTS: OTHER DIRECT FUND RAISING EXPENSE 26,376. EXCESS WITHDRAWALS OVER INCOME EARNED 406,243. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS AND OTHER ASSISTANCE TO INDIVIDUALS 32,968,139. 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 FOLLOWING WAS PUBLISHED IN THE STUDENT HANDBOOK AND BROCHURES USED FOR THE RECRUITMENT OF STUDENTS "CARROLL UNIVERSITY DOES NOT DISCRIMINATE IN ANY MANNER CONTRARY TO LAW OR JUSTICE ON THE BASIS OF RACE, COLOR, SEX, AGE, RELIGION, SEXUAL ORIENTATION, NATIONAL ORIGIN, DISABILITY OR VETERANS STATUS IN ADMINISTRATION OF ITS EDUCATIONAL, ADMISSION, FINANCIAL AID, ATHLETIC, OR OTHER UNIVERSITY POLICIES AND PROGRAMS NOR IN THE EMPLOYMENT OF ITS FACULTY AND STAFF" SCHEDULE E, PART I, LINE 6 FINANCIAL AID AT CARROLL UNIVERSITY, INC. IS AVAILABLE TO STUDENTS WHO ARE DEGREE CANDIDATES, FOLLOWING GUIDELINES ESTABLISHED BY THE UNIVERSITY, THE U.S. DEPARTMENT OF EDUCATION AND THE WISCONSIN HIGHER EDUCATIONAL BOARD. THE UNIVERSITY RECEIVED FUNDS FROM THE FOLLOWING PROGRAMS ADMINISTERED BY THE U.S. DEPARTMENT OF EDUCATION AND HEALTH AND HUMAN SERVICES AND THE WISCONSIN HIGHER EDUCATION AIDS BOARD: FEDERAL PELL GRANT PROGRAM, FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT PROGRAM, TEACH GRANT, FEDERAL PERKINS LOAN PROGRAM, FEDERAL COLLEGE WORK STUDY PROGRAM, FEDERAL STAFFORD LOANS, PARENTS' LOAN PROGRAM, NATIONAL SCIENCE FOUNDATION, WISCONSIN TUITION GRANT, WISCONSIN TIP GRANT, WISCONSIN MINORITY GRANT, WISCONSIN HANDICAP GRANT, WISCONSIN INDIAN GRANT, WISCONSIN COVENANT GRANT, WISCONSIN ACADEMIC EXCELLENCE SCHOLARSHIP, WISCONSIN DEPARTMENT OF PUBLIC INSTRUCTIONS, AND HEALTH RESOURCES SCHOLARSHIPS. X X 0 SNAVELY ASSOCIATES PO BOX 1139 STATE COLLEGE PA 168041139 MARKETING AND COMMUNICATION MATERIALS CONSULTING 0 0 69509 0 GONSER GERBER TINKER STUHR LLP 1776 LEGACY CIRCLE SUITE 100 NAPERVILLE IL 60563 ADVICE & CONSULTING REGARDING SOLICITATIONS OF CONTRIBUTIONS 0 0 69598 0 139107 PIONEER GOLF CLASSIC 68295 45745 22550 26376 68295 45745 22550 26376 26376 -3826 1 SCHOLARSHIPS 2956 32968139 FMV PART I, LINE 2: THE ORGANIZATION MAINTAINS A POLICY AND PROCEDURES MANUAL WHICH OUTLINES THE ORGANIZATION'S POLICY ON AWARDING FEDERAL, STATE, AND INSTITUTIONAL ASSISTANCE TO STUDENTS. X 1 1 X X X X 0 1 0 0 0 0 0 0 0 DOUGLAS HASTAD PRESIDENT 388185 0 0 0 20534 0 45000 0 35144 0 488863 0 0 0 JAMES V WISEMAN III VP FOR ENROLLMENT 194850 0 0 0 62002 0 10000 0 20230 0 287082 0 30000 0 JOANNE PASSARO VP FOR ACADEMIC AFFAIRS 211833 0 0 0 89921 0 20000 0 27273 0 349027 0 20000 0 RONALD LOSTETTER VP OF FINANCE 216113 0 0 0 103009 0 30000 0 32274 0 381396 0 30000 0 STEPHEN KUHN VP OF ADVANCEMENT 198818 0 0 0 63881 0 10000 0 29881 0 302580 0 30000 0 DEBRA JENKINS CHIEF INFORMATION OFFICER 149800 0 0 0 1930 0 0 0 28547 0 180277 0 0 0 JANE HOPP DEAN, DIV OF NATURAL & HLT 141691 0 0 0 1042 0 0 0 14789 0 157522 0 0 0 JOSEPH BAKER DIR. OF INTERCOLLEGIATE ATHLETICS 107356 0 0 0 49719 0 0 0 15520 0 172595 0 30000 0 THERESA BARRY DEAN OF STUDENTS 145238 0 0 0 17194 0 10000 0 20262 0 192694 0 10000 0 PART I, LINE 4B THE FOLLOWING INDIVIDUALS HAVE RECEIVED PAYMENTS FROM A 457(F) PLAN: STEPHEN KUHN - $35,876; JAMES WISEMAN - $36,523; RONALD LOSTETTER - $42,907; JOANNE PASSARO - $24,474; THERESA BARRY - $11,930; JOSEPH BAKER - $35,306 A BANK OF NEW YORK 953571558 97710VE46 2006-05-03 6326043 BUILDING IMPROVEMENT 0 0 0 A 6326043 493779 126521 6305000 2008 0 0 1 1 A 0 0 0 0 0 0 0 A 1 0 0 0 0 0 A 1 BENECO INC STEVE MILLER IS PRESIDENT OF BENECO, INC. & FORMER TRUSTEE OF ORGANIZATION CARROLL UNIVERSITY ENGAGED IN BUSINESS WITH BENECO, INC. DURING THE YEAR ENDED JUNE 30, 2014 TO CONSULT THE UNIVERSITY ON INSURANCE PLAN ARRANGEMENTS. STEVE MILLER, WHO WAS FORMERLY ON THE CARROLL UNIVERSITY BOARD OF TRUSTEES, SERVES AS PRESIDENT OF BENECO, INC.. BENECO, INC. RECEIVES COMMISSIONS FROM INSURANCE VENDORS BASED ON CARROLL UNIVERSITY'S INSURANCE CONTRACT CHOICES. CARROLL UNIVERSITY DOES NOT PAY ANY COMMISSIONS DIRECTLY TO BENECO, INC. 0 QUADGRAPHICS THOMAS QUADRACCI IS CEO OF QUADRAPHICS & FORMER TRUSTEE OF ORGANIZATION DURING THE YEAR ENDED JUNE 30, 2014, CARROLL UNIVERSITY CONTRACTED WITH QUADGRAPHICS TO PRINT COURSE CATALOGS AND OTHER MATERIALS FOR THE UNIVERSITY. THOMAS QUADRACCI, WHO WAS FORMERLY ON THE CARROLL UNIVERSITY BOARD OF TRUSTEES, IS CHAIRMAN AND CEO OF QUADGRAPHICS. THE PURCHASE OF PRINTED MATERIALS FROM QUADGRAPHICS WAS CONDUCTED IN AN ARMS LEGNTH TRANSACTION. 0 WAUKESHA STATE BANK TY TAYLOR IS PRESIDENT OF WAUKESHA STATE BANK & A TRUSTEE OF THE ORG DURING THE YEAR ENDED JUNE 30, 2014, CARROLL UNIVERSITY ENGAGED IN BUSINESS WITH WAUKESHA STATE BANK. TY TAYLOR, WHO IS ON THE CARROLL UNIVERSITY BOARD OF TRUSTEES, IS PRESIDENT OF WUAKESHA STATE BANK. ALL BUSINESS THAT WAS CONDUCTED WAS AN ARMS LEGNTH TRANSACTION. 0 FIRST BUSINESS BANK DAVID VETTA IS PRES/CEO OF FIRST BUSINESS BANK & FORMER TRUSTEE OF THE ORG DURING THE YEAR ENDED JUNE 30, 2014, CARROLL UNIVERSITY ENGAGED IN BUSINESS WITH FIRST BUSINESS BANK. DAVID J. VETTA, WHO WAS FORMERLY ON THE CARROLL UNIVERSITY BOARD OF TRUSTEES, IS PRESIDENT AND CEO AT FIRST BUSINESS BANK. ALL BUSINESS THAT WAS CONDUCTED WAS AN ARMS LEGNTH TRANSACTION. 0 MICHAEL BEST & FRIEDRICH LLP JOSE OLIVIERI IS A PARTNER AT MICHAEL BEST & A TRUSTEE OF THE ORGANIZATION 18591 DURING THE YEAR ENDED JUNE 30, 2014, CARROLL UNIVERSITY ENGAGED IN BUSINESS WITH MICHAEL BEST & FRIEDRICK LLP. JOSE OLIVIERI, WHO IS ON THE CARROLL UNIVERSITY BOARD OF TRUSTEES, IS A PARTNER AT MICHAEL BEST & FRIEDRICH LLP. ALL BUSINESS THAT WAS CONDUCTED WAS AN ARMS LEGNTH TRANSACTION. 0 X 9 102235 FMV X THEATRE EQUIP 1 16000 FMV X FURNITURE 3 2436 FMV X LITERATURE 1 1700 FMV X BASEBALL EQUI 1 1110 FMV X KAYAK 1 708 FMV 0 1 0 FORM 990, PART III, LINE 2 CARROLL UNIVERSITY OFFERED TWO NEW GRADUATE PROGRAMS FOR THE 13/14 ACADEMIC YEAR: MASTER OF SCIENCE IN GRAPHIC COMMUNICATIONS & MASTER OF SCIENCE IN EXERCISE PHYSIOLOGY FORM 990, PART VI, SECTION B, LINE 11 CARROLL UNIVERSITY'S FORM 990 WAS PREPARED BY AN INDEPENDENT CERTIFIED PUBLIC ACCOUNTING FIRM. THE BOARD OF TRUSTEES HAS DELEGATED THE OVERSIGHT AND REVIEW OF THE FORM 990 TO THE AUDIT COMMITTEE. A DRAFT OF THE FULL DISCLOSURE FORM 990 WAS PROVIDED ELECTRONICALLY TO THE BOARD OF TRUSTEES AUDIT COMMITTEE FOR REVIEW AND THE FINALIZED VERSION OF FORM 990 WAS FILED WITH THE IRS ON OR BEFORE THE NOVEMBER 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 CARROLL UNIVERSITY. A FULL DISCLOSURE COPY, WITH ALL DONOR INFORMATION, WILL BE FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE OFFICE OF THE PRESIDENT COLLECTS CONFLICT OF INTEREST DISCLOSURES ANNUALLY, CONFLICTS DISCLOSED ARE DISCUSSED WITH FINANCIAL OFFICERS AND, IF REQUIRED, TRUSTEES. IN ALL CASES, A PERSON WITH A CONFLICT IS EXCUSED FROM ANY DECISION RELATED TO THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE BYLAWS OF CARROLL UNIVERSITY, INC. ESTABLISH A COMPENSATION COMMITTEE THAT HAS GENERAL OVERSIGHT OF THE UNIVERSITY'S COMPENSATION PLAN. SPECIFIC DUTIES OF THE COMMITTEE INCLUDE THE RESPONSIBILITY TO: (A)REQUEST AND REVIEW, ON AT LEAST AN ANNUAL BASIS, THE COMPENSATION POLICIES FOR THE UNIVERSITY, INCLUDING ALL PERTINENT AND CURRENT COMPENSATION STUDIES, FORECASTS AND STATISTICS TO ENSURE THAT COMPENSATION IS NOT ONLY REASONABLE, BUT ALSO APPROPRIATE AND COMPETITIVE TO ATTRACT AND RETAIN QUALIFIED PERSONNEL, INCLUDING THE PRESIDENT AND OTHER KEY EMPLOYEES. THE COMMITTEE MAY ALSO CONSIDER INPUT OBTAINED FROM OTHER MEMBERS OF THE BOARD, FACULTY, STAFF, STUDENTS, ALUMNI AND COMMUNITY MEMBERS. AN ANNUAL REPORT REGARDING THIS REVIEW SHALL BE PRESENTED TO THE FULL BOARD. (B)RECOMMEND TO THE BOARD, FOR APPROVAL, COMPENSATION CHANGES FOR THE PRESIDENT AND OTHER KEY EMPLOYEES OF THE UNIVERSITY. DURING SUCH DELIBERATIONS, THE PRESIDENT AND OTHER KEY EMPLOYEES SHALL NOT BE PRESENT WHEN DISCUSSED. (C)OVERSEE THE DEVELOPMENT WHEN APPROPRIATE, THE EXECUTIVE AGREEMENT FOR THE PRESIDENT OF THE UNIVERSITY. (D)PERFORM ANY/ALL OTHER ACTIVITIES, AS REQUESTED BY THE BOARD THAT RELATE TO THE OVERSIGHT OF COMPENSATION FOR THE PRESIDENT OF THE UNIVERSITY AND OTHER KEY EMPLOYEES OF THE UNIVERSITY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGES IN VALUES OF SPLIT INTEREST AGREEMENTS 254,930.