2014-12-01T16:52:05-06:00 2014-05-31 450250958 EIDE BAILLY LLP 1545 ASSOCIATES DR STE 101 DUBUQUE IA 52002 990 2013-06-01 420680408 Clarke University of Dubuque Iowa CLAR 5635886315 1550 Clarke Drive Dubuque IA 52001 Daisy Halvorson Treasurer/VP for Business & Finance 5635886315 2014-11-11 1 Carmen Krantz P00031958 5635561790 2014-10-14 2013 2015-11-30 17:44:51Z Daisy Halvorson 1550 Clarke Drive Dubuque IA 52001 38133663 0 0928 X www.clarke.edu X 1843 IA Catholic, co-educational, liberal arts university educating at post-secondary & graduate level 30 28 779 27 77763 -9872 3818924 2495359 29877682 32467574 2978316 2015015 -92654 293018 36582268 37270966 9345509 10758646 0 0 15566324 15698069 153598 137612 1473257 8188893 9544651 33254324 36138978 3327944 1131988 75560721 77898648 19116350 19384677 56444371 58513971 X We are a Catholic, co-educational, liberal arts university founded in 1843 by the Sisters of Charity of the Blessed Virgin Mary in Dubuque, Iowa. Clarke educates students at the post-secondary level in the liberal arts and sciences, the fine arts, selected professional programs, and graduate programs.We, the faculty, students, staff and administration are a caring, learning community committed to excellence in education. We provide a supportive environment that encourages personal and intellectual growth, promotes global awareness and social responsibility, and deepens spiritual values. 0 0 20264143 8554231 28151816 Clarke University is a liberal arts and sciences university focused on progressing with the times. Humble beginnings have developed into over 40 undergraduate and 5 graduate programs, including a best-in-class adult education program. We are an institution guided by steadfast principles. We believe one-on-one learning is the ratio for future scholars and laureates. We understand that without proper connections, a quality education is moot. We recognize that easy access to our educators is what sets us apart. It is more than a pledge. It is a progressive framework that has guided us for more than one-and-a-half centuries.Clarke confers the Associate of Arts (AA), Bachelor of Arts (BA), Bachelor of Science (BS), Bachelor of Science in Nursing (BSN), Bachelor of Fine Arts (BFA), Master of Arts in Education (MAE), Master of Business Administration (MBA), Master of Science in Nursing (MSN), Doctor of Nursing Practice (DNP) and Doctor of Physical Therapy (DPT).Clarke's fall 2013 total enrollment was 1,225 students. The average ACT score of the 2013 freshman class was 23 and the average high school grade-point-average was 3.50. In the last five years, an average of 95 percent of survey respondents reported being employed in their field or continuing their education. The student/faculty ratio is 11:1.During the 2012-2013 academic year, approximately 99 percent of Clarke's full-time, day-time students (who were eligible, and applied) received financial aid in the form of scholarships, grants, loans, and work-study. Students are encouraged to apply for financial aid. Renewable, merit-based scholarships include academic, athletic and fine arts awards. 5382511 2017753 4095136 Auxiliary Enterprises: Programs available to all 1,225 students including the residence halls, board plans, athletics, and the bookstore. Residence Hall capacity is 571 with occupancy of 423, or 74.1%. In the fall of 2013, all 423 resident students also had board plans with food service. 3101549 146083 142859 Student services: Resources provided to all 1,225 students by student activities, health services, counseling center, career center, admissions and financial aid. 878072 40579 Academic support programs 878072 40579 29626275 1 1 0 0 0 0 0 1 1 1 1 0 0 0 1 1 1 0 1 1 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 59 0 1 779 1 1 1 0 0 0 0 1 1 0 0 0 0 X 30 28 1 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X Joanne M Burrows SC PhD 5635886385 1550 Clarke Drive Dubuque IA 52001 X Carolyn Sanders Haupert Chair 1.00 X X 0 0 0 John P Beaver Vice Chair 1.00 X X 0 0 0 Margaret Mary Cosgrove BVM Secretary 1.00 X X 0 0 0 Daisy Halvorson Treasurer/VP Business/Finance 40.00 X 132293 0 8784 Mary Lou Anglin BVM Trustee 1.00 X 0 0 0 Mary Rose Corrigan-Psihoyos Trustee 1.00 X 0 0 0 Timothy J Conlon Trustee 1.00 X 0 0 0 Richard P Friedman CPCU Trustee 1.00 X 0 0 0 Carolyn Fitzgerald Gantz Trustee 1.00 X 0 0 0 Margaret Geraghty BVM Trustee 1.00 X 0 0 0 Teri Hawks Goodman Trustee 1.00 X 0 0 0 Richard Gregory Trustee 1.00 X 0 0 0 Suzanne McGovern Juergens Trustee 1.00 X 0 0 0 Nancy Swift Klauer Trustee 1.00 X 0 0 0 Teri Hadro Trustee 1.00 X 0 0 0 Thomas V Lynch CLUCHFC Trustee 1.00 X 0 0 0 Ann Harrington Trustee 1.00 X 0 0 0 Mira Mosle BVM Trustee 1.00 X 0 0 0 Brendan T Quann Trustee 1.00 X 0 0 0 James Schmitt Trustee 1.00 X 0 0 0 John D Stavnes Trustee 1.00 X 0 0 0 James H Thompson Trustee 1.00 X 0 0 0 Robert C Wahlert Trustee 1.00 X 0 0 0 Robert H Wahlert Trustee 1.00 X 0 0 0 RADM Ronald C Wilgenbusch USN Trustee 1.00 X 0 0 0 Thomas P Williams DDS MD Trustee 1.00 X 0 0 0 Rev Thomas R Zinkula Trustee 1.00 X 0 0 0 Mary Ann Zollmann BVM PhD Trustee 1.00 X 0 0 0 Jenifer Collins Westphal Trustee 1.00 X 0 0 0 Ann McDonough Trustee commenced 12/1/13 1.00 X 0 0 0 Joanne M Burrows SC PhD President and Trustee 40.00 X X 195645 0 53019 Joan Lingen BVM PhD Provost/VP of Academic Affairs 40.00 X 0 0 123660 William Biebuyck VP-Institutional Advance 40.00 X 142299 0 28213 Elizabeth Triplett VP-Enrollment Management 40.00 X 140420 0 14760 610657 0 228436 4 0 1 0 Conlon Construction PO Box 3400 Dubuque IA 52004 Construction services 6927634 Triplett Companies 323 5th Street Ames IA 50010 Construction services 184285 Sodexo Operations LLC 4880 Paysphere Circle Chicago IL 60674 Facilities management 172794 Tri-State Travel PO Box 307 Galena IL 61036 Travel services 132815 Welu Printing Co 1685 Central Avenue Dubuque IA 52001 Professional services 128545 7 54849 1082056 1358454 14916 2495359 Tuition and fees 611310 28188737 28188737 Auxiliary enterprises 611710 3912024 3912024 Conf/event catering 722320 260875 183112 77763 Supporting revenue 900099 105938 105938 32467574 844511 844511 40110 0 40110 40110 40110 1562460 391956 1170504 1170504 1170504 32198 54849 39116 -6918 -6918 691451 431625 259826 259826 37270966 32389811 77763 2308033 10758646 10758646 457286 66538 324210 66538 12376666 10003746 1743641 629279 523668 396231 99252 28185 1464696 464254 962422 38020 875753 688010 142757 44986 163777 163777 13613 13613 42200 42200 137612 137612 104590 104590 523693 229740 293953 378314 378314 2427936 1954835 337924 135177 442389 207469 117460 117460 1067107 1062021 5086 491158 417629 27544 45985 68747 52839 15389 519 306261 272507 16877 16877 2017864 1795464 111200 111200 201911 193912 7999 Stipends and casual lab 322725 233895 88830 Food and entertainment 199777 60199 100066 39512 Memberships 178886 57025 118199 3662 Bad debt expense 38427 38427 555276 294574 202457 58245 36138978 29626275 5039446 1473257 1810 1810 2455975 2525080 1371798 1144185 799501 621726 115762 146145 355797 346045 68106550 32203930 35155588 35902620 31649480 33197387 2077470 2144554 1577540 1514009 0 355087 75560721 77898648 3081471 1732995 620145 710826 12186727 13818756 130071 99592 971786 858983 150000 150000 1976150 2013525 19116350 19384677 X 38150279 40273444 6649783 6033987 11644309 12206540 56444371 58513971 75560721 77898648 X 1131988 930825 6787 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 0 1 X 31436877 265841 4182442 478236 2406345 104590 32895989 29994218 197596 4345265 177397 2855837 66968 31436877 30825048 2200050 -1903236 153993 908377 65274 29994218 26488797 276028 5436190 128881 1167754 79332 30825048 24107394 330416 3045649 172221 745589 76852 26488797 0.63400 0.32500 0.04100 0 0 390119 390119 55692407 23876185 31816222 9850697 6768619 3082078 2173327 1559126 614201 35902620 Due to US Government - loan programs 1162002 Asset retirement obligation 792129 Annuities payable 59394 2013525 X 28620869 930825 -9947073 -9016248 37637117 104590 -470741 -366151 37270966 26551269 463954 463954 26087315 104590 9947073 10051663 36138978 Part III, Line 4: The collection consists of a limited heritage edition of world-renowned Saint John's Bible. The heritage edition is a completely handwritten and illustrated re-creation of the original Saint John's Bible. The Saint John's Bible is a significant representation of the Word of God and a compelling work of art. This rare gift to Clarke will serve as a testament to our Catholic heritage and it will be a source of pride for the University and community. The University plans to exhibit the Bible as volumes are received and is planning a speaker series to accompany each volume's arrival. Part IV, Line 2b: Student deposit accounts are held by the University for various student groups on campus. Part V, Line 4: The endowment funds are invested to provide for total return. Spending from the endowment supports scholarship and other educational activities. Part X, Line 2: Clarke University is recognized as exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. The University is subject to federal and state income taxes on any net income from unrelated business activities. The University files a Form 990 (Return of Organization Exempt from Income Tax) annually. When these returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the tax position taken or the amount of the position that would ultimately be sustained. Examples of tax positions common to universities include such matters as the following: the tax exempt status of each entity and various positions relative to potential sources of unrelated business taxable income (UBIT). UBIT is reported on Form 990-T, as appropriate. The benefit of tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes that it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions are not offset or aggregated with other positions. Tax positions that meet the "more likely than not" recognition threshold are measured as the largest amount of tax benefit that is more than 50% likely to be realized on settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for uncertain tax benefits in the accompanying statements of financial position along with any associated interest and penalties that would be payable to the taxing authorities upon examination. As of May 31, 2014 and 2013, there were no uncertain tax benefits identified and recorded as a liability. Form 990-T filed by the University is subject to examination by the Internal Revenue Service (IRS) up to three years from the extended due date of the return. Forms 990-T filed by the University are no longer subject to examination for the fiscal years ended May 31, 2010, and prior. Part XI, Line 2d - Other Adjustments: Scholarships and grants included in expenses for Form 990 -9,947,073. Part XI, Line 4b - Other Adjustments: Book store cost of goods sold included in revenue for Form 990 -431,625. Fundraising expenses included in revenue for Form 990 -39,116. Part XII, Line 2d - Other Adjustments: Book store cost of goods sold included in revenue for Form 990 431,625. Fundraising expenses included in revenue for Form 990 39,116. Adjustment on annuity obligation included in expenses for financial stmts -6,787. Part XII, Line 4b - Other Adjustments: Scholarships and grants included in expenses for Form 990 9,947,073. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Clarke does not make any public disclosures in the media regarding its nondiscrimination policy when recruiting students. However, Clarke does include a statement in the Magazine of Clarke, the website and other printed materials such as brochures and applications. All public job postings include a statement that Clarke is an equal opportunity employer. Schedule E, Part I, Line 6 Financial aid or assistance from a governmental agency is distributed to students using federally approved financial need analysis criteria. X X X X X X X 1 McAllister & Quinn 1030 15th St NW Ste 590 West Washington DC 20005 Grantwriting services 0 0 97367 -97367 The Stelter Company 10435 New York Ave Des Moines IA 50322 Planned giving website and newsletter 0 0 13954 -13954 111321 -111321 IA Golf Classic 87047 54849 32198 12832 19366 6918 87047 54849 32198 12832 19366 6918 39116 -6918 1 Endowed scholarships 240 378014 Endowed awards 46 8797 Institutional scholarships 790 8982165 Federal SEOG grants 180 96920 Tuition remission & other waivers 45 636601 Tuition exchange 7 155910 Advanced education nursing traineeship 35 403519 Part I, Line 2: Grants and scholarships are awarded to students based on specific criteria detailed in the various grant/scholarship agreements. Members of the financial aid office and various scholarship/award committees review records for all potential recipients to ensure that the scholarship/award is being awarded properly. X X 0 1 X X X 0 0 0 0 0 0 0 0 0 Joanne M Burrows SC PhD President and Trustee 189484 0 0 0 6161 0 9898 0 44195 0 249738 0 0 0 William Biebuyck VP-Institutional Advance 135570 0 0 0 6729 0 7554 0 21564 0 171417 0 0 0 Elizabeth Triplett VP-Enrollment Management 140066 0 0 0 354 0 7185 0 8444 0 156049 0 0 0 Part I, Line 1a Joanne Burrows, SC, Ph.D., President, receives a housing non-taxable benefit which is reported as other compensation on Form 990, Part VII, Section A, Column (F) and Schedule J, Page 2, Part II, Column (D). A plaque in the house states the house was donated to Clarke for use as the Presidential residence. The President conducts significant business activities and university related entertainment on university property. The residence is owned by Clarke and designated the Official University Presidential House. The Organization pays country club dues on behalf of Joanne Burrows, SC, Ph.D., President and William Biebuyck, Vice President for Institutional Advancement. This is a taxable benefit to the employee and is reported in reportable compensation on Form 990, Part VII, Section A, Column (D) and Schedule J, Part II, Column (B)(III). Part I, Line 1b The Organization does not have its own written policy regarding payment or reimbursement of expenses for the country club dues, however it follows the IRS tax law related to taxable employer benefits for the employees for which the University pays country club dues. A Iowa Higher Education Loan Authority - Series A 421235696 2012-05-25 8000000 Refunding bonds issued 1/22/98 and new science facility 0 0 0 B Iowa Higher Education Loan Authority - Series B 421235696 2012-05-25 8000000 Science facility & other construction to enhance the campus 0 0 0 A 235333 8001036 145753 35853 4472291 3347139 2013 1 0 1 1 B 725000 8000000 29342 35853 5988894 1945911 0 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 0 1 0 0 0 1 B 0 0 0 0 1 0 0 0 1 A 1 B 1 Schedule K, Part II, Line 11, Column A: The other spent proceeds were used to currently refund bonds originally issued on January 22, 1998. Schedule K, Part II, Line 3, Column A: The amount of interest earned on the bond proceeds while they were held in the project fund during FY2013 was $946 and FY 2014 was $90. Schedule K, Part II, Lines 13 & 16, Column B: The Series A bond was used to refund bonds and construction of the science facility. The Series B bond was for the construction of the science facility and other construction to enhance the campus. Once the Series A bond was used, the Series B bond was used. Final allocation of the Series B bond has not been made. The science facility was completed in August 2013. The final allocation of proceeds has not been made. The plan is to use the remaining amount to fund the Food Science Center. Conlon Construction Co Timothy Conlon, Trustee is an owner and officer of Conlon Construction Co. 2959709 Payment for construction services 0 X 8794 Thrift store value X Gift certific 24 3969 Face value X Tickets and p 18 2153 Face value 0 1 0 Form 990, Part VI, Section A, line 1 The Chair of the Board of Trustees at each annual meeting appoints an Executive Committee which consists of the Chair of the Board of Trustees, the President of the University, the President of the Sisters of Charity of the Blessed Virgin Mary and not less than five nor more than eleven members selected from the Board of Trustees. The Executive Committee has full charge of the affairs of the corporation between regular meetings of the Board of Trustees, subject to the conditions or limitations hereinafter imposed. Excluded from the powers and authority of this Committee are the following: 1. Power to adopt, amend or repeal the Articles of Incorporation or Bylaws; 2. Election of officers of or filling vacancies on the Board of Trustees; 3. Election of or removal of officers of the corporation; 4. Power to act on mergers or consolidations; 5. Appointment of or discharge of standing committees of the Board of Trustees; 6. Undertaking or authorization of major financing, as defined by the Debt Policy, unless specifically authorized to undertake and to negotiate financing in excess of such amount by the Board of Trustees; 7. Authority to fix officers' compensation unless specially authorized by the Board of Trustees; 8. Power to fix student fees, room and board charges, or tuition, except after presentation to the Board of Trustees and then only within the parameters as are set by the Board of Trustees; 9. Sale, lease or disposition of real estate; 10. Such other aspects of the corporation's business as the Board of Trustees may from time to time by resolution specifically restrict; 11. Confer degrees, earned or honorary. Form 990, Part VI, Section A, line 2 Robert H. Wahlert, Trustee and Robert C. Wahlert, Trustee have a family relationship. Form 990, Part VI, Section A, line 7b The Board of Trustees has general powers, duties, and responsibilities with regard to governance of the organization. In addition, pursuant to the Bylaws of the Organization, a Board of Corporators consisting of nine (9) specific individuals from the Board of Trustees, has authority to: A. adopt, alter, amend or repeal the Bylaws of the Corporation; B. exercise, in its discretion, the power of disaffirmation with regard to Board of Trustee decisions/actions. Disaffirmation requires a majority vote of the Board of Corporators and must be exercised within five (5) days of the Board of Trustee decision/action being disaffirmed; C. exercise such other powers as it may, from time to time, reserve to itself. Each member of the Board of Corporators is entitled to one (1) vote. Form 990, Part VI, Section B, line 11 The review of the Form 990 is delegated by the Board of Trustees of Clarke University to the Audit Committee comprised of members of management of Clarke and several Trustees who serve on the Board. The Audit Committee meets to review the completed Form 990 with the paid tax preparer. Any revisions are made and subsequently approved by the committee prior to the full board meeting. All Trustees receive a final copy of the Form 990 after it is approved by the Audit Committee and before it is filed with the IRS. Form 990, Part VI, Section B, line 12c Any duality of interest or possible conflict of interest on the part of any Board of Trustee member shall be disclosed to the other members of the board of Trustees and made a matter of record through an annual procedure and also when the conflict of interest becomes a matter of action by the Board of Trustees. Any Board of Trustee member having a duality of interest or possible conflict of interest on any matter shall not vote or use his or her personal influence on the matter, and he or she shall not be counted in determining the quorum situation. The foregoing requirements shall not be construed as preventing the Board of Trustee member from briefly stating his or her position in the matter, nor from answering the pertinent questions of other Board of Trustee members since his or her knowledge may be of great assistance. Any new member of the Board will be advised of this policy upon entering upon the duties of his and her office. Form 990, Part VI, Section B, line 15 The Board has a conversation during an executive session meeting each January regarding the President's compensation and the contract terms. A small ad hoc group composed of the Chair, Vice Chair, and Trustee/legal counsel meet to discuss the President's compensation. They review comparative salaries and benefits for other presidents in the Iowa Association of Independent College & Universities (IAICU), and prepare a recommendation for the full Board to approve. The recommendation is approved or rejected by the Board at the April meeting. The Audit Committee reviews the compensation for the other officers of the Organization and uses comparability data from the IAICU for similar positions. The other officers receive the same compensation increase as other salaried and faculty employees on an annual basis. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy and audited financial statements of Clarke University are available upon request. In addition, our university-wide conflict of interest policy is available on our website in the employment manual. Our financial statements are also posted on the National Association of College and University Business Officers' website. Form 990, Part VII, Section A: Compensation reported for Joan Lingen, BVM, Ph.D.: Joan Lingen, BVM, Ph.D. is a member of a religious order and has taken a bona fide vow of poverty and receives no taxable compensation from Clarke University on either Form W-2 or Form 1099. Clarke University has taken the position to report the compensation and benefits even though it is not required. Detail of the salary and benefits related to this position are as follows: Base compensation (paid directly to BVM): $114,073 Deferred compensation Retirement contribution (paid to BVM for BVM plan): 4,917 Health insurance premiums (paid to BVM for BVM plan): 1,128 Total compensation to Part VII, Line 32, Column F: $120,118 Employer paid life and LTD insurance premiums not reportable on Part VII: 700 Total compensation: $120,818 Form 990, Part XI, line 9: Adjustment on annuity obligation 6,787.