2014-02-13T07:43:21-06:00 2013-06-30 232932984 PARENTEBEARD LLC 1650 MARKET STREET SUITE 4500 PHILADELPHIA PA 19103 990 2012-07-01 231365953 CEDAR CREST COLLEGE CEDA 6106064666 100 COLLEGE DRIVE ALLENTOWN PA 181046196 AUDRA J KAHR 6106064666 2014-02-12 1 JULIUS GREEN CPA P00350393 2159720701 2012 2015-11-30 17:44:51Z AUDRA J KAHR 100 COLLEGE DRIVE ALLENTOWN PA 181046196 40749398 0 X WWW.CEDARCREST.EDU X 1867 PA A LIBERAL ARTS COLLEGE FOR WOMEN DEDICATED TO THE EDUCATION OF THE NEXT GENERATION OF LEADERS. 24 23 530 28 0 0 5371997 5358482 33098310 31471988 780728 1401927 300392 1899506 39551427 40131903 8551191 8489780 0 0 19205755 17753108 0 0 1256595 11625748 12178770 39382694 38421658 168733 1710245 60901518 63490675 26466688 25773788 34434830 37716887 X CEDAR CREST IS A LIBERAL ARTS COLLEGE FOR WOMEN DEDICATED TO THE EDUCATION OF THE NEXT GENERATION OF LEADERS. CEDAR CREST COLLEGE PREPARES WOMEN FOR LIFE IN A GLOBAL COMMUNITY BY EDUCATING THE WHOLE STUDENT. 1 0 30908370 8489780 31471988 THE COLLEGE CAMPUS, WITH 17 PRIMARY BUILDINGS, IS LOCATED IN THE WESTERN RESIDENTIAL SECTION OF THE CITY OF ALLENTOWN, PENNSYLVANIA IN THE LEHIGH VALLEY, WHICH HAS A COMBINED POPULATION OF APPROXIMATELY 640,000. THE COLLEGE IS WITHIN 55 MILES OF PHILADELPHIA AND 90 MILES OF NEW YORK CITY. THE COLLEGE SERVES APPROXIMATELY 1,700 STUDENTS AND HAS A 10:1 STUDENT-FACULTY RATIO. THE COLLEGE IS ACCREDITED BY THE MIDDLE STATES COMMISSION ON HIGHER EDUCATION.THE VISION OF A WOMENS COLLEGE IN ALLENTOWN, PENNSYLVANIA, CAME FIRST THROUGH THE FATHERS OF THE UNITED CHURCH OF CHRIST, WHO, IN 1867, ESTABLISHED A PROGRAM FOR THEIR DAUGHTERS TO ACHIEVE EDUCATION BEYOND HIGH SCHOOL. THE VISION WAS THEN SUPPORTED MORE THAN 100 YEARS LATER WHEN THE COLLEGE ALUMNAE CAME FORWARD WITH PASSION AND MIGHT TO DERAIL A POTENTIAL MERGER WITH A CO-ED COLLEGE.CEDAR CREST HAS BEEN A PLACE WHERE STUDENTS DEVELOP LEADERSHIP SKILLS. THROUGH ACADEMIC COURSES, STUDENT-LIFE PROGRAMMING, ATHLETICS, ACTIVITIES, AND PRE-PROFESSIONAL PRACTICES, THE COLLEGE HAS BEEN A PLACE TO GROW STUDENTS INTO LEADERS. THE WOMEN'S COLLEGE STATUS HAS ENSURED THAT STUDENTS HAVE MORE LEADERSHIP OPPORTUNITIES, MORE OF A CHANCE TO TRULY PRACTICE LEADERSHIP, AND A GREATER EXPECTATION OF LEADING PLACED UPON THEM BY FACULTY AND STAFF. IT HAS BEEN LEADERSHIP BY ABSORPTION IN SOME WAYS, AND IT HAS BEEN SUCCESSFUL. 30908370 1 1 0 0 0 0 0 1 0 1 1 1 0 0 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 0 1 0 0 0 0 0 0 0 0 1 55 0 1 530 1 0 0 0 0 0 1 1 0 0 0 0 X 24 23 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 PA X AUDRA KAHR 6106064666 100 COLLEGE DRIVE ALLENTOWN PA 181046196 SUSAN E HUDGINS 20.00 X X 0 0 0 JANE ISSACS LOW 20.00 X X 0 0 0 CARMEN TWILLIE AMBAR ESQ 40.00 X X 339358 0 36592 ROXANNE AMICO 1.00 X 0 0 0 JOHN BASSLER JR 1.00 X 0 0 0 JONI J BERNER 1.00 X 0 0 0 MARY BETH BIRCHBY 1.00 X 0 0 0 TERRY CAPUANO 1.00 X 0 0 0 DR RONALD FELDMAN 1.00 X 0 0 0 SYLVIA BETZ GARDNER 1.00 X 0 0 0 PHYLLIS GRUBE 1.00 X 0 0 0 SUSAN A HELLER 1.00 X 0 0 0 DAVID P KELLER 1.00 X 0 0 0 LUCIE LAPOVSKY PHD 1.00 X 0 0 0 VIRGINIA PITYO MIHALIK 1.00 X 0 0 0 LYNN C MINELLA 1.00 X 0 0 0 SAMUEL MIRANDA JR 1.00 X 0 0 0 HERBERT MOREY 1.00 X 0 0 0 CYNTHIA D NEWMAN 1.00 X 0 0 0 SHAMARA RHODES 1.00 X 0 0 0 DR LORRAINE SOISSON 1.00 X 0 0 0 MICHAEL STOUDT JR 1.00 X 0 0 0 KAREN WAGNER 1.00 X 0 0 0 HELENE M WHITAKER 1.00 X 0 0 0 DR BLENDA J WILSON 1.00 X 0 0 0 LINDA OLEKSIAK ZEMBRON 1.00 X 0 0 0 DAVID FINN 1.00 X 0 0 0 EDWARD L JONES JR 1.00 X 0 0 0 DR ALICE ANNE MILLER 1.00 X 0 0 0 DR ROLAND L SIGAL 1.00 X 0 0 0 DR ANNE OKAL WINKLER 1.00 X 0 0 0 KIMBERLY OWENS 40.00 X 109871 0 13215 PATRICIA MORAN 40.00 X 179297 0 20146 AUDRA KAHR 40.00 X 119550 0 18207 ELIZABETH MEADE 40.00 X 115524 0 9884 MAYNARD CRESSMAN 40.00 X 124240 0 11234 WENDY ROBB 40.00 X 129543 0 16531 BRIAN MISANKO 40.00 X 104562 0 17065 JAMES WARD 40.00 X 106411 0 14162 SUZANNE WEAVER 40.00 X 104650 0 12372 1433006 0 169408 14 0 1 0 PARKHURST DINING SERVICES PO BOX 644091 PITTSBURGH PA 15264 FOOD SERVICES 1057505 ORLANDO DIEFENDERFER 116 SOUTH SECOND STREET ALLENTOWN PA 18105 ELECTRICAL SERVICES 469010 JENZABAR PO BOX 55018 BOSTON MA 02205 HIGHER EDUCATION SOFTWARE 300529 SOUND COMMUNICATIONS INC 7 PENN PLAZA STE 1122 NEW YORK NY 10001 DIGITAL ADVERTISING 284759 LVPG-HEALTHWORKS 400 N 17TH ST STE 207 ALLENTOWN PA 18104 STUDENT HEALTH SERVICES 236509 11 16798 1027383 4314301 527480 5358482 TUITION AND FEES 611600 28963576 28963576 RESIDENCE FEES 611600 1766311 1766311 SWIM & SAFETY PROGRAMS 611600 724427 724427 GRANT PROGRAM MGMT FEES 900099 9226 9226 FORTIFIED STUDENT DEPOSITS 900099 5200 5200 3248 3248 31471988 457993 457993 13997 13997 524894 109299 415595 415595 415595 1448366 504432 943934 943934 943934 2917 16798 3764 -847 -847 DINING FEES 611600 1359219 1359219 BOOKSTORE 611600 61100 61100 LOAN FEES 900099 24748 24748 25694 25694 1470761 40131903 31471988 0 3301433 8489780 8489780 980066 248952 531768 199346 13811442 11256229 1889606 665607 378169 352433 11979 13757 1595210 1220410 269508 105292 988221 747882 172821 67518 95971 95971 62935 62935 134201 134201 1942385 1516741 406908 18736 802657 598066 204001 590 1671436 942405 631621 97410 103668 68438 33602 1628 2175574 1623785 551789 276008 209363 54516 12129 76268 63538 7523 5207 934408 934408 2233824 1475719 758105 94621 5592 89029 TEMP HELP, RECRUITMENT, 1003755 672301 308423 23031 MEMBERSHIP FEES 175950 55592 114993 5365 DINING SERVICES 167896 128603 32822 6471 STUDENT SUPPORT 69026 69026 158187 94906 28773 34508 38421658 30908370 6256693 1256595 1587780 1662117 6528074 7037800 1515053 1180810 604538 505994 60983651 35683599 25952829 25300052 19510235 22579370 4400262 4387630 802747 836902 60901518 63490675 1107308 975042 1385436 1372776 19868397 19391393 4105547 4034577 26466688 25773788 X 8234381 8480859 7386961 9589983 18813488 19646045 34434830 37716887 60901518 63490675 X 1710245 1282166 289646 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 841405 X X X X 0 18940331 505899 2677611 1029021 134201 20960619 19792792 398166 -204193 922663 123771 18940331 16117560 588407 3901173 695066 119282 19792792 14474384 721889 1746074 746353 78434 16117560 18134478 532262 -3272809 341838 473668 104041 14474384 0.16000 0.84000 1 0 751331 751331 41936567 21597079 20339488 10692184 8609383 2082801 7603569 5477137 2126432 25300052 ASSETS OF POOLED INCOME FUND 138967 F ASSETS HELD IN CHARITABLE REMAINDER 3895000 F BENEFICIAL INTEREST IN REMAINDER TRUST 353663 F 4387630 STUDENT DEPOSITS 74746 AGENCY FUNDS 72292 REFUNDABLE ADVANCES FROM FEDERAL GOVERNMENT FOR STUDENT LOANS 963074 DEFERRED COMPENSATION 220000 LIABILITIES UNDER SPLIT-INTEREST AGREEMENTS 2329227 CAPITALIZED LEASE OBLIGATIONS PAYABLE 375238 4034577 X 33036601 1282166 -8356330 -7074164 40110765 134201 -113063 21138 40131903 29754544 -144266 -144266 29898810 134201 8388647 8522848 38421658 PART III, LINE 4: THE COLLEGE COLLECTIONS ARE USED FOR PUBLIC EXHIBITION, STUDENT RESEARCH AND CLASSROOM STUDY. THE COLLEGE ALSO HAS SEVERAL COLLECTIONS ON LOAN. THE COLLEGE USES THESE COLLECTIONS AS A TOOL FOR INSTRUCTION. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE INCOME GENERATED FROM THE COLLEGE'S ENDOWMENT IS PRIMARILY UTILIZED FOR SCHOLARSHIP AID AND FUNDING OF EDUCATIONAL PROGRAMS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE COLLEGE ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES USING A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD IS MET. MANAGEMENT DETERMINED THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD. THE COLLEGE'S ORGANIZATION EXEMPT FROM INCOME TAX RETURNS SUBSEQUENT TO JUNE 30, 2009 REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIP ALLOWANCES -8,388,647. CHANGE IN VALUATION OF SPLIT-INTEREST AGREEMENTS 32,317. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -109,299. FUNDRAISING EXPENSES -3,764. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 109,299. RECOVERY OF COSTS -257,329. FUNDRAISING EXPENSES 3,764. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP ALLOWANCES 8,388,647. 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 THE NON-DISCRIMINATION POLICY IS LISTED ON PAGE 1 OF THE ACADEMIC CATALOG WHICH IS PROVIDED TO EACH STUDENT TO USE DURING REGISTRATION AND ADVISING. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE COLLEGE ADMINISTERS NSF GRANT FUNDS, NIH GRANT FUNDS, TITLE III, AND TITLE IV GRANT & LOAN PROGRAMS, AS WELL AS STATE GRANT ASSISTANCE THROUGH PENNSYLVANIA & RECIPROCAL STATES. EUROPE (INCLUDING ICELAND & GREENLAND) 0 11 PROGRAM SERVICES PAN EUROPEAN MASTERS IN FINE ARTS - CREATIVE WRITING 58132 0 11 0 0 0 11 58132 0 58132 0 0 0 0 0 0 ASSOCIATE SCHOLAR LUNCH 19715 16798 2917 315 1193 2256 19715 16798 2917 315 1193 2256 3764 -847 1 INSTITUTIONAL & FEDERAL AID 713 8388647 STUDENT AID EXPENSE 84 101133 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE OFFICE OF STUDENT FINANCIAL SERVICES ADMINISTERS, RECONCILES, AND REPORTS ALL AID TO STUDENTS IN ACCORDANCE WITH GRANT AGENCY PROCEDURES. FUNDS ARE VERIFIED, REVIEWED, AND RECONCILED TO ENSURE APPROPRIATE RECORDING. X X X X 1 1 X X X X X X 1 0 0 0 0 0 0 0 0 CARMEN TWILLIE AMBAR ESQ 311648 0 20000 0 7710 0 0 0 36592 0 375950 0 0 0 PATRICIA MORAN 173497 0 0 0 5800 0 0 0 20146 0 199443 0 0 0 PART I, LINE 1A THE COLLEGE PRESIDENT IS REQUIRED, AS A CONDITION OF EMPLOYMENT, TO LIVE AT THE COLLEGE'S PRESIDENTIAL RESIDENCE. THIS BENEFIT WAS NOT INCLUDED IN TAXABLE COMPENSATION AS IT QUALIFIED FOR EXCLUSION UNDER INTERNAL REVENUE CODE SECTION 119(D) INCLUDING REQUIRED AS A CONDITION OF EMPLOYMENT, FOR THE CONVENIENCE OF THE EMPLOYER AND ON OR NEAR THE CAMPUS. THE COLLEGE PROVIDES COUNTRY CLUB DUES AND A RESIDENCE HOME MANAGER FOR THE COLLEGE PRESIDENT AND A CAR ALLOWANCE FOR THE VP OF INSTITUTIONAL ADVANCEMENT. THESE BENEFITS ARE INCLUDED IN TAXABLE COMPENSATION. PART I, LINE 4A THE COLLEGE MADE A SEVERANCE PAYMENT TO AN EMPLOYEE WITH WHOM A CONFIDENTIALITY AGREEMENT IS IN PLACE. A LEHIGH COUNTY GENERAL PURPOSE AUTHORITY 911886539 5248053G1 2006-04-01 17496547 FINANCE DANCE STUDIO & FACULTY OFFICE SPACE CONSTRUCTION, REFUND PY BONDS 0 0 0 B LEHIGH COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232244109 2007-02-15 3100000 FINANCE ACQUISITION OF HAMILTON BLVD BUILDING 0 0 0 C LEHIGH COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232244109 2009-08-31 1940521 FINANCE THE RENOVATION OF THE BISTRO 0 0 0 A 2145000 17496547 1496202 838096 15219506 2006 0 0 1 1 B 325306 3100000 29115 2211087 2007 0 0 1 1 C 291790 1940521 44950 510247 1385324 2009 0 0 1 1 A 0 0 0 0 1 0 1 B 0 0 0 0 1 0 1 C 0 0 0 0 1 0 1 A 1 0 0 0 0 0 B 1 0 0 0 0 0 C 1 0 0 0 0 0 A 0 B 0 C 0 FORM 990, SCHEDULE K, PART V THE COLLEGE REVIEWS FEDERAL TAX REQUIREMENTS AND IS IN THE PROCESS OF DEVELOPING WRITTEN PROCEDURES. X 12 527480 QUOTED SALES PRICE 0 1 1 METHOD FOR DETERMINING NUMBER OF CONTRIBUTIONS: PART I, COLUMN (B): THE NUMBER OF CONTRIBUTORS = NUMBER OF DONORS THIRD PARTY USE: PART I, LINE 32B: THE ORGANIZATION USES AN INVESTMENT MANAGER TO SELL DONATIONS OF STOCK. NEW PROGRAM SERVICES FORM 990, PART III, LINE 2 PAN EUROPEAN MASTERS OF FINE ARTS - CURRICULUM IS CRAFT-BASED, WITH GENRE-SPECIFIC WRITING WORKSHOPS AND CRAFT SEMINARS COMPRISING THE RESIDENCIES. A UNIQUE FEATURE OF OUR PROGRAM, HOWEVER, IS ITS FOCUS ON CREATIVE WRITING AS IT RELATES TO A SENSE OF PLACE. THE RESIDENCIES ALSO INCLUDE LOCALE SEMINARS, AS WELL AS SCHEDULED FIELD TRIPS, LECTURES, AND ASSIGNMENTS, SPECIFICALLY DESIGNED TO INFORM AND INSPIRE WRITING THROUGH A STUDY OF THE SOCIETY, HISTORY, AND ARTS. MASTER OF ARTS IN ART THERAPY - THE UNIQUE STUDIO-BASED PROGRAM EDUCATES STUDENTS ON THEORY AND TECHNIQUES THROUGH ART MEDIA THAT PROMOTE EMOTIONAL, PSYCHOLOGICAL, AND SPIRITUAL GROWTH. CURRICULUM IS ALIGNED WITH THE GUIDELINES OF THE AMERICAN ART THERAPY ASSOCIATION AND FULFILLS CURRENT ART THERAPY CREDENTIALS BOARD REGISTRATION (ATR) AND BOARD CERTIFICATION (BC) GUIDELINES. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE SHALL BE COMPRISED OF THE FOLLOWING: THE CHAIRPERSON, VICE CHAIRPERSON TO THE BOARD, PRESIDENT TO THE COLLEGE, PRESIDENT OF THE ALUMNAE ASSOCIATION, AND CHAIRS OF THE FOLLOWING COMMITTEES: COMPENSATION, ACADEMIC AFFAIRS, ADVANCEMENT, ENROLLMENT MANAGEMENT AND STUDENT LIFE, FINANCE AND ENDOWMENT. IN ADDITION, THE CHAIRPERSON OF THE BOARD MAY APPOINT UP TO TWO AD HOC MEMBERS TO SERVE ON THE EXECUTIVE COMMITTEE. THE CHAIRPERSON MAY INVITE OTHER BOARD MEMBERS TO ATTEND EXECUTIVE COMMITTEE MEETINGS AS NEEDED WHEN RELEVANT EXPERTISE IS REQUIRED. THE CHAIRPERSON OF THE BOARD SHALL BE THE CHAIR OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL POSSESS AND EXERCISE ALL EXECUTIVE AND SUPERVISORY POWERS OF THE BOARD OF TRUSTEES IN THE INTERVALS BETWEEN MEETINGS OF THE BOARD, SUBJECT, HOWEVER, TO THE REGULATIONS, INSTRUCTIONS AND AUTHORIZATIONS AS MAY FROM TIME TO TIME BE MADE AND GIVEN BY THE BOARD. MEETINGS MAY BE CONVENED TO SET THE ADENDA FOR THE COMING ACADEMIC YEAR OR TO ADVISE THE PRESIDENT AND BOARD CHAIR. SPECIAL MEETINGS MAY BE CALLED BY THE CHAIRPERSON OF THE BOARD OR UPON THE REQUEST OF ANY TWO MEMBERS OF THE EXECUTIVE COMMITTEE. AT LEAST THREE (3) DAYS NOTICE OF THE CONVENING OF A SPECIAL MEETING OF THE EXECUTIVE COMMITTEE SHALL BE GIVEN BY THE SECRETARY, EXCEPT IN CASES OF EXTREME EMERGENCY. MINUTES OF THE PROCEEDINGS OF THE EXECUTIVE COMMITTEE AND A REPORT OF ITS ACTIONS SHALL BE DISTRIBUTED BY THE SECRETARY TO TRUSTEE MEMBERS IN ADVANCE OF THE NEXT CONVENED MEETING OF THE BOARD AND ACCORDING TO ESTABLISHED PROCEDURES. FORM 990, PART VI, SECTION B, LINE 11 THE MANAGER OF ACCOUNTING COORDINATES THE PREPARATION OF THE FORM 990 BY THE COLLEGE'S ACCOUNTING FIRM. THE FORM IN ITS ENTIRETY IS REVIEWED BY THE CHIEF FINANCIAL OFFICER/TREASURER. A DRAFT OF THE FULL FORM 990 WAS PROVIDED TO MEMBERS OF THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES AND REVIEWED BY THE AUDIT COMMITTEE AT A MEETING IN EARLY 2014 WITH PARENTEBEARD, THE INDEPENDENT AUDITORS OF THE COLLEGE. FOLLOWING THAT REVIEW, THE PUBLIC DISCLOSURE COPY OF FORM 990 WAS PROVIDED TO EACH TRUSTEE OF THE COLLEGE PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE BOARD OF TRUSTEES AND MEMBERS OF COMMITTEES THEREOF, INCLUDING OFFICERS AND KEY EMPLOYEES, ARE REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT ANNUALLY. THE CONFLICT OF INTEREST STATEMENTS ARE MAINTAINED AND MONITORED WITHIN THE OFFICE OF THE PRESIDENT AT THE COLLEGE. IN ADDITION, THE CABINET MUST SIGN THE COLLEGE'S STAFF HANDBOOK ANNUALLY THAT DEALS WITH CONFLICT OF INTEREST AS A MATTER OF POLICY. THE SIGNED DOCUMENT IS STORED WITHIN THE HR DEPARTMENT. POTENTIAL CONFLICTS IDENTIFIED ARE PRESENTED TO THE CHAIR OF THE BOARD OF TRUSTEES WHO CONSULTS WITH THE PRESIDENT AND THE CHIEF FINANCIAL OFFICER AT THE COLLEGE WHO REVIEWS THE INFORMATION PROVIDED. ADDITIONAL INFORMATION IS REQUESTED WHEN NECESSARY. ALL NEW TRUSTEES ARE EVALUATED BY THE FULL BOARD OF TRUSTEES, THE PRESIDENT AND THE CFO FOR POTENTIAL CONFLICTS. ANY IDENTIFIED CONFLICTS ARE ADDRESSED IMMEDIATELY. BOARD MEMBERS WILL ABSTAIN FROM VOTING ON SUCH MATTERS IN WHICH THEY HAVE IDENTIFIED A CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION FOR THE PRESIDENT WAS SET IN 2013 AFTER AN INDEPENDENT CONSULTANT, CORPORATE COMPENSATION PARTNERS, LLC, CONDUCTED A COMPENSATION STUDY, INCLUDING A REVIEW OF PEER INSTITUTIONS. THE REPORT WAS UTILIZED BY THE TRUSTEE COMPENSATION COMMITTEE IN SETTING THE SALARY FOR THE PRESIDENT. THIS IS A NEW 5 YEAR CONTRACT. COMPENSATION OF THE SR. OFFICERS/CABINET IS CALCULATED BY BENCHMARKING THE SALARIES OF THOSE SIMILAR POSITIONS WITHIN OUR GROUP OF PEERS AND CURRENT PAY SCALES. THE COLLEGE USES SEVERAL COMPENSATION TOOLS TO APPROPRIATELY BENCHMARK THESE SALARIES, SUCH AT CUPA, PAYSCALE AND SALARIES.COM. THE SALARY COMPARISION IS PERFORMED BY THE HUMAN RESOURCES OFFICE AND PROVIDED TO THE PRESIDENT. THE PRESIDENT REVIEWS THE INFORMATION AND THE COMPENSATION IS DETERMINED. THE COMPENSATION POLICY IS DOCUMENTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC THROUGH THE FOLLOWING VEHICLES: DUN & BRADSTREET; BLOOMBERG MUNICIPAL REPOSITORY AND FT INTERACTIVE DATA ATTN: NRMSIR. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN VALUATION OF SPLIT-INTEREST AGREEMENTS 32,317. RECOVERY OF COST 257,329.