2014-01-14T10:30:06-06:00 2013-05-31 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 225 S 6TH ST STE 2300 MINNEAPOLIS MN 55402 990 2012-06-01 910565571 PACIFIC LUTHERAN UNIVERSITY PACI 2535357119 12180 PARK AVE S TACOMA WA 98447 ROBERT RILEY 2355357119 2014-01-14 1 LAWRENCE H MOHR CPA P00447603 6128764500 2012 2015-11-30 17:44:51Z X THOMAS KRISE 12180 PARK AVE S TACOMA WA 98447 162627423 0 X WWW.PLU.EDU X 1920 WA PACIFIC LUTHERAN UNIVERSITY OFFERS MORE THAN 3,500 STUDENTS A UNIQUE BLEND OF STUDIES. THE ACADEMICALLY RIGOROUS OFFERINGS RANGE FROM THE LIBERAL ARTS TO PROFESSIONAL PROGRAMS. THE UNIVERSITY IS LOCATED 6 MILES SOUTH OF TACOMA, IN SUBURBAN PARKLAND, ON A 156-ACRE WOODED CAMPUS. STUDENTS DEVELOP SKILLS IN DECISION MAKING, ANALYSIS, COMMUNICATION AND REASONING THAT PREPARE THEM FOR A LIFETIME OF SUCCESS - BOTH IN THEIR CAREERS AND IN SERVICE TO OTHERS. PLU IS COMMITTED TO DEVELOPING IN ALL STUDENTS AN UNDERSTANDING OF THE INTERCULTURAL AND INTELLECTUAL RICHNESS OF THE WORLD. ABOUT 50 PERCENT OF STUDENTS SPEND TIME STUDYING ABROAD. THROUGHOUT ITS HISTORY PLU HAS REMAINED CLOSELY AFFILIATED WITH THE LUTHERAN CHURCH AND IS NOW A UNIVERSITY OF THE EVANGELICAL LUTHERAN CHURCH IN AMERICA. PLU'S MISSION STATEMENT IS TO "EDUCATE STUDENTS FOR LIVES OF THOUGHTFUL INQUIRY, SERVICE, LEADERSHIP AND CARE - FOR OTHER PEOPLE, FOR THE COMMUNITY, AND FOR THE EARTH." 37 35 3095 548 740276 -419945 14485346 12720472 120724395 125826915 1571548 1503110 2105101 1970242 138886390 142020739 41391396 43989955 0 0 58532436 60262661 0 0 2207276 41806032 42074202 141729864 146326818 -2843474 -4306079 239467143 244376714 85232889 86005285 154234254 158371429 X PLU SEEKS TO EDUCATE STUDENTS FOR LIVES OF THOUGHTFUL INQUIRY, SERVICE, LEADERSHIP AND CARE - FOR OTHER PEOPLE, FOR THE COMMUNITY AND FOR THE EARTH. 0 0 85403133 43989955 107938008 INSTRUCTION AT THE UNDERGRADUATE LEVEL OFFERS DEGREES AS FOLLOWS: BACHELOR OF ARTS, BACHELOR OF SCIENCE, BACHELOR OF ARTS IN COMMUNICATION, BACHELOR OF ARTS IN EDUCATION, BACHELOR OF ARTS IN PHYSICAL EDUCATION, BACHELOR OF ARTS IN RECREATION, BACHELOR OF BUSINESS ADMINISTRATION, BACHELOR OF FINE ARTS, BACHELOR OF MUSIC, BACHELOR OF MUSIC EDUCATION, BACHELOR OF MUSICAL ARTS, BACHELOR OF SCIENCE IN NURSING, AND BACHELOR OF SCIENCE IN PHYSICAL EDUCATION. ADDITIONALLY PLU OFFERS GRADUATE DEGREES IN MASTER OF ARTS IN EDUCATION, MASTER OF ARTS (MARRIAGE AND FAMILY THERAPY), MASTER OF BUSINESS ADMINISTRATION, MASTER OF SCIENCE IN NURSING, MASTER OF SCIENCE IN FINANCE, MASTER OF FINE ARTS (CREATIVE WRITING), AND A JOINT DEGREE MBA/MSN. THE TOTAL ENROLLMENT FOR THE 2012-2013 WAS 3,473 STUDENTS IN FALL 2012 AND 3,213 STUDENTS IN SPRING 2013, OF WHICH 870 MET THE REQUIREMENTS TO GRADUATE. 18198990 ACADEMIC SUPPORT AND STUDENT SERVICES AT PACIFIC LUTHERAN UNIVERSITY ARE COMPRISED OF ADMISSIONS, WANG CENTER FOR GLOBAL EDUCATION, INSTRUCTIONAL TECHNOLOGIES, THE WOMEN'S CENTER, INFORMATION & TECHNOLOGY SERVICES, CAMPUS MINISTRY, ROTC, ATHLETICS, THE HEALTH CENTER, THE COUNSELING CENTER, FINANCIAL AID, STUDENT EMPLOYMENT, AND STUDENT SERVICES, LIBRARY SERVICES, LANGUAGE RESOURCE CENTER, ACADEMIC ASSISTANCE, ACADEMIC ADVISING, WRITING CENTER. 16866764 18852750 AUXILIARY ENTERPRISES AT PACIFIC LUTHERAN UNIVERSITY INCLUDES NINE RESIDENCE HALLS AND AN APARTMENT-STYLE COMPLEX, ALL LOCATED ON CAMPUS. DURING THE 2012-2013 SCHOOL YEAR, ON CAMPUS RESIDENTS TOTALED 1,471 STUDENTS IN FALL 2012 AND 1,349 STUDENTS IN SPRING 2013. ALSO INCLUDED IN AUXILIARY ENTERPRISES IS DINING AND RETAIL SERVICES, WHICH IS COMPRISED OF A MODERN DINING HALL AND SEVERAL QUICK SERVICE FOOD OPTIONS ON CAMPUS, AS WELL AS A STATE OF THE ART BOOKSTORE AND A FULL SERVICE INTERNET CAFE LOCATED NEAR CAMPUS. ADDITIONALLY, AUXILIARY SERVICES CONSISTS OF THE CAMPUS CONCIERGE, AND CONFERENCES AND EVENTS. 7096852 273898 #1 : OPERATION AND MAINTENANCE OF PLANT INCLUDING DEPRECIATION OF $4,427,2652#: RESEARCH#3: PUBLIC SERVICE#4: OTHER INSTITUTIONAL SUPPORT 7096852 273898 127565739 1 1 0 0 0 0 0 0 1 1 1 1 0 1 1 1 1 0 1 1 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 1 246 0 3095 1 1 1 1 TD 0 0 0 1 1 0 0 0 0 X 37 35 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X ROBERT RILEY 2535357119 BUSINESS OFFICE TACOMA WA 98447 THOMAS KRISE 40.00 X X 135967 0 47908 DANIEL ALSAKER 1.00 X 0 0 0 NEAL ARNTSON 1.00 X 0 0 0 LINDA BARBO 1.00 X 0 0 0 DALE BENSON 1.00 X 0 0 0 GAYLE BERG 1.00 X 0 0 0 BRUCE BJERKE 1.00 X X 0 0 0 W CHRIS BOERGER 1.00 X 0 0 0 DAVID BRAUER-RIEKE 1.00 X 0 0 0 EDWARD GROGAN 1.00 X 0 0 0 DARREN HAMBY 1.00 X 0 0 0 ROE HATLEN 1.00 X 0 0 0 TONY HICKS 1.00 X 0 0 0 JAMES HUSHAGEN 1.00 X X 0 0 0 DAVID JOHNSON 1.00 X 0 0 0 ESTELLE KELLEY 1.00 X 0 0 0 LISA KITTILSBY 1.00 X 0 0 0 MARK KNUDSON 1.00 X 0 0 0 LISA KORSMO 1.00 X 0 0 0 JON KVINSLAND 1.00 X 0 0 0 KATHLEEN MCCALLUM SACHSE 1.00 X 0 0 0 DONALD MORKEN 1.00 X 0 0 0 BRENDA MORRIS 1.00 X 0 0 0 LARRY NEEB 1.00 X 0 0 0 KNUT OLSON 1.00 X 0 0 0 DAVID PETERS 1.00 X 0 0 0 NANCY POWELL 1.00 X 0 0 0 JEFF RIPPEY 1.00 X 0 0 0 DONNA SCHLITT 1.00 X 0 0 0 JERRY SKAGA 1.00 X 0 0 0 CHARLEEN TACHIBANA 1.00 X 0 0 0 EILEEN TELLEFSON 1.00 X X 0 0 0 BRADLEY TILDEN 1.00 X 0 0 0 TOM ERIC VRAALSEN 1.00 X 0 0 0 SHELLEY WICKSTROM 1.00 X 0 0 0 DONALD WILSON 1.00 X 0 0 0 ANDREW YEE 1.00 X 0 0 0 SHERI TONN 40.00 X 198963 0 42445 STEVEN STARKOVICH 40.00 X 166701 0 37492 LAURA MAJOVSKI 40.00 X 160032 0 43314 KARL STUMO 40.00 X 152975 0 35251 STEPHEN OLSON 40.00 X 145136 0 38226 JAMES BROCK 40.00 X 157419 0 22996 TERRY MILLER 40.00 X 124611 0 43179 LOREN ANDERSON 40.00 X 764048 0 57994 2005852 0 368805 28 1 1 0 ABSHER CONSTRUCTION COMPANY PO BOX 280 PUYALLUP WA 98371 GENERAL CONTRACTOR 2744537 JOHN KORSMO CONSTRUCTION INC PO BOX 1377 TACOMA WA 98401 GENERAL CONTRACTOR 1869543 BCRA INC 2106 PACIFIC AVENUE STE 300 TACOMA WA 98402 ARCHITECT/ DESIGNERS 952541 NATIONAL PUBLIC RADIO PO BOX 79540 BALTIMORE MD 21279 PUBLIC RADIO PROGRAMMING SERVICES 922337 MARKET ENGINUITY INC 3131 E CLARENDON AVE STE 105 PHOENIX AZ 85016 ADVERTISING AGENT 537914 26 485000 2193127 10042345 1182440 12720472 TUITION AND FEES 611600 107806144 107806144 SALES AND SERVICES OF 611710 16912239 16912239 GARFIELD BOOKSTORE/GOL 713910 659817 659817 OTHER ACADEMIC SUPPORT 611710 273898 273898 UNIVERSITY LOANS INCOM 611710 174817 174817 125826915 1336704 80459 1256245 179770 101841 77929 77929 77929 19839294 735226 19510214 897900 329080 -162674 166406 166406 91484 96729 -5245 -5245 UNDERWRITING REVENUE 541800 1897558 1897558 1897558 142020739 127064656 740276 1495335 43989955 43989955 1194992 173082 721733 300177 46008593 38509320 6714816 784457 3567808 2923748 562080 81980 6020713 4933855 948515 138343 3470555 2844051 546758 79746 271205 271205 105539 105539 125534 125534 6837155 5500040 1182897 154218 270643 221786 42638 6219 10583746 8646619 1791407 145720 2374213 1945621 374038 54554 2777151 2275820 437518 63813 4496685 3684944 708417 103324 891933 730921 140517 20495 2614046 2142159 411822 60065 4606320 3774788 725689 105843 1408820 1154500 221948 32372 MISC. MINOR EQUIPMENT P 2090044 1712749 329270 48025 STUDY AWAY FEES 1405859 1405859 DUES & SUBSCRIPTIONS 548966 449867 86485 12614 MISCELLANEOUS 483243 396008 76131 11104 183100 150047 28846 4207 146326818 127565739 16553803 2207276 21425 22100 17209239 11762920 7148287 3246785 2435060 2883842 7542098 7422861 826605 875750 960546 1090004 193759653 90538220 102882462 103221433 39815240 47618035 34408975 31809355 400000 400000 25817206 34023629 239467143 244376714 9469108 11363667 56965000 55760000 1153418 107107 94612 18691674 17633588 85232889 86005285 X 60523280 61572824 22552802 21582023 71158172 75216582 154234254 158371429 239467143 244376714 X -4306079 6602854 1840400 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 71802576 2710240 9023070 3593678 356502 79585706 74653552 3719443 -2761485 3595555 213379 71802576 67545423 2588852 8347469 3613152 215040 74653552 61752223 2931666 6698147 3623791 212822 67545423 71780725 5083841 -11475790 3461426 11527 163600 61752223 0.03700 0.88440 0.07860 1 0 2037723 2037723 133652263 47711679 85940584 1840955 710780 1130175 34221463 27423794 6797669 22007249 14691967 7315282 103221433 PRIVATE EQUITY FUNDS 3129757 F HEDGE FUNDS 15675376 F REAL ESTATE 9177807 F REAL ESTATE FUNDS 1476775 F CDS AND OTHER INVESTMENTS 2349640 F 31809355 CONSTRUCTION IN PROGRESS 16896145 DEPOSITS HELD BY TRUSTEE 4769609 BOND ACQUISITION COSTS 1310771 FUNDS HELD IN TRUST BY OTHERS 9593347 CSV OF LIFE INSURANCE 1453757 34023629 DEPOSIT ACCOUNTS 1722964 ANNUITIES PAYABLE 6648126 ASSET RETIREMENT OBLIGATION 873925 UNAMORTIZIED PREMIUM 957753 GOVERNMENT GRANTS REFUNDABLE 7430820 17633588 X 105319932 6602854 179117 6781971 98537961 254661 43228117 43482778 142020739 101182757 -899445 -899445 102082202 254661 43989955 44244616 146326818 PART IV, LINE 2B: PLU IS THE CUSTODIAN OF VARIOUS AGENCY, CHARITABLE REMAINDER UNITRUST, AND GIFT ANNUITY FUNDS, OF WHICH ALL OR A PORTION IS DUE TO AN OUTSIDE PARTY. AGENCY FUNDS ARE HELD IN PLU'S MAIN BANK ACCOUNT AND CHARITABLE REMAINDER UNITRUSTS AND GIFT ANNUITIES ARE INVESTED WITH CHARLES SCHWAB. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: INTENDED USES OF ENDOWMENT FUNDS - TO FUND SCHOLARSHIPS, UNDERGRADUATE RESEARCH, EQUIPMENT, LECTURES, ATHLETIC FACILITIES, SOME FACULTY POSITIONS, GLOBAL EDUCATION, AND OTHER UNIVERSITY PROGRAMS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE UNIVERSITY 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 UNIVERSITY FOR UNCERTAIN TAX POSITIONS AS OF MAY 31, 2013 AND 2012. THE UNIVERSITY'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AUTHORITIES. THE TAX RETURNS FOR FISCAL YEARS 2010 AND THEREAFTER ARE OPEN TO EXAMINATION BY FEDERAL AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EXPENSES 96,729. LOSS ON SALE OF REAL ESTATE 82,388. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 43,989,955. CHANGE IN VALUE OF TRUST -761,838. PART XII, LINE 2D - OTHER ADJUSTMENTS: ACTUARIAL ADJUSTMENT -1,162,645. LOSS ON SALE OF REAL ESTATE 82,388. LOSS ON CONTRIBUTIONS RECEIVABLE 84,083. DIRECT FUNDRAISING EXPENSES 96,729. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 43,989,955. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 PACIFIC LUTHERAN UNIVERSITY PUBLISHES ITS NONDISCRIMINATORY POLICY IN THE TACOMA NEWS TRIBUNE DURING FEBRUARY EACH YEAR. THE UNIVERSITY FOLLOWS A NONDISCRIMINATORY POLICY REGARDING ALL PROGRAMS. THE UNIVERSITY ENROLLS STUDENTS WITHOUT DISCRIMINATION AS TO RACE, SEX, COLOR, OR NATIONAL ORIGIN. THE UNIVERSITY'S RECRUITMENT PROCEDURES ARE DESIGNED AND CARRIED OUT IN SUCH A WAY AS TO REACH STUDENTS OF ALL RACIAL SEGMENTS IN THE GEOGRAPHICAL AREA SERVED. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES SUPPORT FROM THE US GOVERNMENT IN CONNECTION WITH THE PERKINS LOAN PROGRAM, FEDERAL WORK-STUDY PROGRAM, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT PROGRAM AND OTHER PROGRAMS. CENTRAL AMERICA AND THE CARIBBEAN 0 1 PROGRAM SERVICES STUDY ABROAD ACTIVITIES; ON-SITE PROGRAM ADMINISTRATION 69406 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY ABROAD ACTIVITIES; STUDENT RECRUITMENT 372773 EUROPE (INCLUDING ICELAND & GREENLAND) 0 4 PROGRAM SERVICES STUDY ABROAD ACTIVITIES; STUDENT RECRUITMENT 413999 NORTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD ACTIVITIES 267911 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD ACTIVITIES 123196 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES STUDY ABROAD ACTIVITIES 46344 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES STUDY ABROAD ACTIVITIES 41572 RUSSIA & THE NEWLY INDEPENDENT STATES 0 0 PROGRAM SERVICES DOCUMENTARY VIDEO PRODUCTION 250 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 11831060 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 1255927 0 5 0 0 0 5 1335451 13086987 14422438 1 0 1 1 1 1 KPLU SPECIAL EVENTS 91484 91484 96729 91484 91484 96729 96729 -5245 1 GRANTS AND SCHOLARSHIPS - SEE UNIVERSITY FOR LIST OF RECIPIENTS 3061 43989955 0 PART I, LINE 2: PACIFIC LUTHERAN UNIVERSITY OFFERS SCHOLARSHIPS AND GRANTS TO QUALIFIED STUDENTS TO HELP REDUCE THEIR OUT-OF-POCKET TUITION COSTS. STUDENTS RECEIVING FINANCIAL ASSISTANCE OF THIS FORM MUST MEET SPECIFIC CRITERIA SUCH AS ACADEMIC ACHIEVEMENT, FINANCIAL NEED AND OTHER SIMILAR STANDARDS WHETHER PUT IN PLACE BY THE COLLEGE OR BY DONORS OF RESTRICTED FUNDS. X X X X 1 1 X X X X X 1 1 0 0 0 0 0 0 0 THOMAS KRISE 134945 0 0 0 1022 0 14088 0 33820 0 183875 0 0 0 SHERI TONN 179116 0 0 0 19847 0 35576 0 6869 0 241408 0 0 0 STEVEN STARKOVICH 159489 0 0 0 7212 0 30683 0 6809 0 204193 0 0 0 LAURA MAJOVSKI 143437 0 0 0 16595 0 29705 0 13609 0 203346 0 0 0 KARL STUMO 137798 0 0 0 15177 0 27748 0 7503 0 188226 0 0 0 STEPHEN OLSON 124136 0 0 0 21000 0 25862 0 12364 0 183362 0 0 0 JAMES BROCK 142119 0 0 0 15300 0 16172 0 6824 0 180415 0 0 0 TERRY MILLER 124611 0 0 0 0 0 23906 0 19273 0 167790 0 0 0 LOREN ANDERSON 274338 0 225000 0 264710 0 26250 0 31744 0 822042 0 100000 0 PART I, LINE 1A -THE TAX INDEMNIFICATION AND GROSS-UP PAYMENTS WERE ADDED ON THE FORM W-2 OF THE FORMER PRESIDENT LOREN ANDERSON. -THE PRESIDENT RECEIVED HOUSING PROVIDED BY THE UNIVERSITY. -SPOUSE OF PRESIDENT TRAVELED AS AN OFFICIAL REPRESENTATIVE OF UNIVERSITY WITH PRESIDENT. PART I, LINES 4A-B FORMER PRESIDENT LOREN ANDERSON RETIRED IN 2012 AND RECEIVED COMPENSATION DURING THE YEAR AS PART OF HIS RETIREMENT AGREEMENT AND A FINAL BONUS FOR HIS SERVICES TO THE UNIVERSITY. THE FORMER PRESIDENT ALSO PARTICIPATED IN AND RECEIVED PAYMENTS FROM A SECTION 457(F) PLAN AS PART OF HIS RETIREMENT PACKAGE. TOTAL PAYMENTS FROM THE SECTION 457(F) PLAN IN 2012 WAS 237,055.91. A WASHINGTON HIGHER EDUCATION FACILITIES AUTHORITY 911306482 939781ZD5 2006-12-20 63357191 REFUNDING AND CONSTRUCTION 0 0 0 A 6400000 63357191 3816213 30900647 601083 1039248 27000000 2007 1 1 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 1 0 0 0 1 MBIA 30.000000000000 1 0 0 A 1 JOHN KORSMO OWNER IS HUSBAND OF TRUSTEE,LISA KORSMO 2541174 THE UNIVERSITY CONTRACTS WITH KORSMO CONTRUCTION TO FACILITATE CONSTRUCTION PROJECTS ON CAMPUS. ALSO, THE UNIVERSITY ENTERED INTO AN OPERATING AGREEMENT WITH A LIMITED LIABILITY COMPANY OWNED BY MR. KORSMO TO FORM GARFIELD NORTH LLC TO FACILITATE A RETAIL, COMMERCIAL AND RESIDENTIAL PROJECT CLOSE TO THE UNIVERSITY'S CAMPUS. 0 X 1300 FAIR MARKET VALUE X 32 1108786 FAIR MARKET VALUE X UNREIMBURSED EXPENSES 29 20037 COST OF DONATED ITEM X COMPANY PRODUCTS 6 52317 COST OF DONATED ITEM 0 1 0 METHOD FOR DETERMINING NUMBER OF CONTRIBUTIONS: PART I, COLUMN (B): THE NUMBER OF CONTRIBUTORS ONLY INDICATES THE NUMBER OF UNIQUE CONTRIBUTORS. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WAS PROVIDED TO AND REVIEWED BY THE ENTIRE BOARD BEFORE IT WAS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C PACIFIC LUTHERAN UNIVERSITY ANNUALLY REQUIRES BOARD MEMBERS AND KEY EMPLOYEES TO COMPLETE CONFLICT OF INTEREST SURVEYS. ALL SURVEYS ARE REVIEWED BY INDEPENDENT AUDITORS. ANY CONFLICTS ARE DOCUMENTED TO ENSURE PROPER OVERSIGHT. BOARD MEMBERS WITH CONFLICTS ARE REQUIRED TO RECUSE THEMSELVES FROM PROCEEDINGS. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT'S COMPENSATION IS REVIEWED ANNUALLY BY A COMPENSATION COMMITTEE OF THE GOVERNING BOARD. COMPARABLE DATA FOR SAME SIZE AND REGIONAL ORGANIZATIONS IS USED AS WELL AS PRIOR YEAR ACCOMPLISHMENTS. ALL OTHER POSITIONS ARE REVIEWED ANNUALLY BY AN IMMEDIATE SUPERVISOR. THE HUMAN RESOURCES DIRECTOR ASSEMBLES AND REVIEWS COMPARABLE DATA FROM THE INDUSTRY. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED ON PLU'S WEBSITE. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: ADJUSTMENT OF ACTUARIAL LIABILITY FOR ANNUITIES PAYABLE 1,162,645. LOSS ON CONTRIBUTIONS RECEIVABLE -84,083. CHANGE IN VALUE OF TRUST 761,838. FORM 990, PART XII, LINE 2C THE OVERSIGHT PROCESS HAS NOT CHANGED FROM PRIOR YEAR BENSON FAMILY FOUNDATION PO BOX 3168 PORTLAND OR 97208 203039538 SUPPORTING ORGANIZATION TO PLU OR 501(C)(3) LINE 11D, III-O 0 GARFIELD COMMONS LLC 12108 PARK AVENUE SOUTH TACOMA WA 98447 651266546 COMMERCIAL RETAIL RENTAL WA PACIFIC LUTHERAN UNIVERSITY UNRELATED 95060 4400159 0 79025 0 0.67730 CHARITABLE REMAINDER UNITRUSTS (21) CHARITABLE TRUST WA T 0 CHARITABLE REMAINDER ANNUITY TRUST (1) CHARITABLE TRUST WA T 0 LIFE INCOME TRUSTS (3) CHARITABLE TRUST WA T 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 BENSON FAMILY FOUNDATION C 485000 CASH CONTRIBUTION