2014-11-12T16:45:46-06:00 2014-06-30 810385940 ANDERSON ZURMUEHLEN & CO PC PO BOX 1040 HELENA MT 59624 990 2013-07-01 810231774 CARROLL COLLEGE CARR 4064474300 1601 N BENTON AVE HELENA MT 59625 LORI PETERSON VICE PRESIDENT 4064474300 2014-11-12 1 DONALD W LAINE P00102069 4064421040 2014-10-31 2013 2015-11-30 17:44:51Z LORI PETERSON 1601 N BENTON AVE HELENA MT 59625 81776252 0 X WWW.CARROLL.EDU X 1909 MT CARROLL COLLEGE IS A CATHOLIC, DIOCESAN, LIBERAL ARTS COLLEGE IN THE ECUMENICAL TRADITION OF THE SECOND VATICAN COUNCIL. CARROLL COLLEGE ACKNOWLEDGES THE ROLE OF PREPARING ITS STUDENTS FOR A CAREER, AND ALSO AFFIRMS THE ROLE OF PROVIDING FOR THE EXPANSION OF THE INTELLECTUAL, IMAGINATIVE, AND SOCIAL AWARENESS OF ITS STUDENTS. CARROLL COLLEGE AFFIRMS ITS COMMITMENT TO THE PRINCIPLE OF FREEDOM OF INQUIRY. CARROLL COLLEGE IS COMMITTED TO A POLICY OF OPEN PARTICIPATION BY MEMBERS OF ALL RELIGIOUS FAITHS AND ALL PERSONS OF GOOD WILL IN THE TOTAL ACADEMIC AND SPIRITUAL EXPERIENCE OF THE COLLEGE COMMUNITY. 27 26 1113 190 0 0 7659151 7030826 45788406 46892060 1338517 3218062 449323 406228 55235397 57547176 18999364 18868250 0 0 17339104 19518467 0 0 1631965 13798055 13462884 50136523 51849601 5098874 5697575 80955381 95088529 23245923 26201872 57709458 68886657 X CARROLL COLLEGE IS A CATHOLIC, DIOCESAN, LIBERAL ARTS COLLEGE IN THE ECUMENICAL TRADITION OF THE SECOND VATICAN COUNCIL.AS A LIBERAL ARTS SCHOOL, CARROLL COLLEGE ACKNOWLEDGES THE PRACTICAL ROLE OF PREPARING ITS STUDENTS FOR A CAREER, BUT IT ALSO AFFIRMS THE TRADITIONAL ROLE OF PROVIDING FOR THE EXPANSION OF THE INTELLECTUAL, IMAGINATIVE, AND SOCIAL AWARENESS OF ITS STUDENTS. IT IS DEDICATED TO PROVIDING FOR ITS STUDENTS THE MEANS FOR THEIR FULL REALIZATION OF A DUAL GOAL OF VOCATION AND ENLIGHTENMENT. THUS, WHILE PROVIDING SUBSTANTIAL PROFESSIONAL AND PRE-PROFESSIONAL PROGRAMS, THE COLLEGE ENCOURAGES AND EXPECTS ALL STUDENTS TO PARTICIPATE IN A BROAD SPECTRUM OF ACADEMIC DISCIPLINES. 0 0 9501307 38259437 INSTRUCTION - LIBERAL ARTS PROGRAM LEADING TO A BACCALAUREATE DEGREE 3037542 ACADEMIC SUPPORT - ACADEMIC ADMINISTRATION, LIBRARIES, LOGISTICS AND SERVICES 27892879 18868250 7646825 STUDENT SERVICES - OFFICE OF THE DEAN OF STUDENTS, STUDENT ACTIVITIES, STUDENT PUBLICATIONS,COUNSELING, FINANCIAL AID, STUDENT RECORDS, AND STUDENT HEALTH ISSUES 2072000 985798 OTHER PROGRAMS 2072000 985798 42503728 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 124 0 1 1113 1 0 0 0 0 0 1 1 0 0 0 0 X 27 26 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 1 0 X LORI PETERSON 4064474300 1601 NORTH BENTON HELENA MT 59625 RICHARD ANDERSON TRUSTEE 2.00 X 0 0 0 REV STANLEY MALNAR TRUSTEE 2.00 X 0 0 0 REV THOMAS FLYNN TRUSTEE 2.00 X 0 0 0 DANNETTE SULLIVAN VICE CHAIR 2.00 X X 0 0 0 DR DON OLSON TRUSTEE 2.00 X 0 0 0 SARAH POWER TRUSTEE 2.00 X 0 0 0 BISHOP GEORGE L THOMAS EX OFFICIO 2.00 X 0 0 0 CAROLINE BOITANO TRUSTEE 2.00 X 0 0 0 JE SHAUN CORETTE III TRUSTEE 2.00 X 0 0 0 MARY ANN MILHOUS TRUSTEE 2.00 X 0 0 0 MARK SEMMENS CHAIR 2.00 X X 0 0 0 REV THOMAS P HAFFEY TRUSTEE 2.00 X 0 0 0 RAYMOND KUNTZ TRUSTEE 2.00 X 0 0 0 BEN NIEDERMEYER TRUSTEE 2.00 X 0 0 0 JOHN WALDA TRUSTEE 2.00 X 0 0 0 ANNIE GOODWIN TRUSTEE 2.00 X 0 0 0 EUGENE MALLETTE TRUSTEE 2.00 X 0 0 0 DR ALBERT OLSZEWSKI SECRETARY 2.00 X X 0 0 0 THOMAS WALSH TRUSTEE 2.00 X 0 0 0 WILLIAM WAR TRUSTEE 2.00 X 0 0 0 THOMAS EVANS PRESIDENT 40.00 X X 231230 0 32183 ALEX PAPU RINCON TRUSTEE 2.00 X 0 0 0 DIANE STEELE TRUSTEE 2.00 X 0 0 0 JOHN R MCINNIS TRUSTEE 2.00 X 0 0 0 JOHN MCCARVEL TRUSTEE 2.00 X 0 0 0 PAUL MILHOUSE TRUSTEE 2.00 X 0 0 0 THOMAS MCARVEL V.P. ADVANCEMENT 40.00 X 123441 0 18511 JAMES HARDWICK V.P. COMMUNITY LIVING 40.00 X 103193 0 5456 ANTONINA LOCOCO V.P. ENROLLMENT SERVICES 40.00 X 105694 0 12016 LORI PETERSON V.P. FINANCE & ADMINISTRAT 40.00 X 118915 0 18216 PAULA MCNUTT V.P. ACADEMIC AFFAIRS/DEAN 40.00 X 139692 0 13739 CATHERINE DAY ASS. V.P. ACADEMIC AFFAIRS/DEAN 40.00 X 62472 0 6485 884637 0 106606 6 0 1 0 SODEXO OPERATIONS LLC 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20878 FOOD SERVICE 2366130 DICK ANDERSON CONSTRUCTION INC 3424 E US HIGHWAY 12 HELENA MT 59601 CONSTRUCTION CONTRACTOR 435107 ROYALL & COMPANY 1920 E PARHAM RD RICHMOND VA 23228 PRINTING/PUBLICATION MATERIALS 390154 HELENA SAND AND GRAVEL 2802 LAKE HELENA DR HELENA MT 59601 SUBCONTRACTOR 278775 MORRISON-MAIERLE INC 1 ENGINEERING PL HELENA MT 59602 ENGINEERING SERVICES 249782 29 1656456 5374370 552733 7030826 TUITION AND FEES 611600 38259437 38259437 AUXILIARY ENTERPRISES 611600 6817870 6817870 OTHER SOURCES 611600 985798 985798 ATHLETICS 611600 828955 828955 46892060 819574 819574 517850 206086 311764 311764 311764 24916145 750768 22518998 749427 2397147 1341 2398488 2398488 849029 754565 94464 94464 57547176 46892060 0 3624290 18868250 18868250 1099433 470102 418011 211320 13986412 11140884 2142061 703467 560583 432331 94488 33764 2588853 1100826 1417471 70556 1283186 990267 222164 70755 1765597 790247 883062 92288 1869284 1143199 527287 198798 569857 54253 516503 -899 2095512 1764341 184685 146486 2152164 2152164 668461 707037 -38576 2361363 1540684 812723 7956 SUPPLIES 1295759 1084364 179405 31990 PERIODICALS 35477 35477 649410 229302 354624 65484 51849601 42503728 7713908 1631965 3785771 3454423 573835 1254696 2792642 2880552 352168 307684 233055 353980 75792714 40389750 29434396 35402964 33563247 42252797 7721740 6111202 2498527 3070231 80955381 95088529 3251213 3033035 785542 346038 14488777 18101214 4720391 4721585 23245923 26201872 X 21462824 25856878 12738749 18190944 23507885 24838835 57709458 68886657 80955381 95088529 X 5697575 4916906 562718 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 41970823 1370397 7541791 18657 1090615 49773739 32596006 1603009 4137829 -4403629 769650 41970823 28098176 4204504 398103 -361781 466558 32596006 24610239 862445 3470134 646769 197873 28098176 23088762 1204284 1297200 -1479992 2459999 24610239 0.27590 0.49900 0.22510 0 0 1022868 1022868 61622180 29354184 32267996 11624122 9806169 1817953 1523544 1229397 294147 35402964 NON-LIQUID ASSETS 169395 F RESTRICTED CASH 537690 F OTHER INVESTMENTS 520000 F REAL ESTATE INVESTMENTS 119848 F INTEREST IN CHARITABLE TRUSTS 4764269 F 6111202 STUDENT DEPOSITS 81834 ANNUITIES PAYABLE 1256956 OTHER LIABILITIES 30058 FAIR VALUE OF SWAP CONTRACT 2352737 REFUNDABLE ADVANCE 1000000 4721585 X 45830161 4916907 16959 960651 5894517 39935644 17611532 17611532 57547176 35215677 16959 960649 977608 34238069 17611532 17611532 51849601 PART III, LINE 4: VARIOUS ART PIECES ARE DISPLAYED ON CAMPUS. PART V, LINE 4: THE ENDOWMENT WILL BE USED TO FUND SCHOLARSHIPS AND GENERAL OPERATIONS OF THE COLLEGE AND SUPPORTS EDUCATION. PART X, LINE 2: THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) HAS ISSUED AN INTERPRETATION ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THIS INTERPRETATION ADDRESSES THE ACCOUNTING FOR UNCERTAINTIES IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS AND PRESCRIBES A THRESHOLD OF MORE-LIKELY-THAN-NOT FOR RECOGNITION AND A DE-RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE COLLEGE'S POLICY IS TO EVALUATE THE LIKELIHOOD THAT ITS UNCERTAIN TAX POSITIONS WILL PREVAIL UPON EXAMINATION BASED ON THE EXTENT TO WHICH THOSE POSITIONS HAVE SUBSTANTIAL SUPPORT WITHIN THE INTERNAL REVENUE CODE AND REGULATIONS, REVENUE RULINGS, COURT DECISIONS AND OTHER EVIDENCE. IT IS THE OPINION OF MANAGEMENT THAT THE COLLEGE HAS NO UNCERTAIN TAX POSITIONS. WITH FEW EXCEPTIONS, THE COLLEGE IS NO LONGER SUBJECT TO EXAMINATIONS BY FEDERAL TAX AUTHORITIES FORYEARS BEFORE 2010. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 754,565. RENTAL EXPENSES NETTED ON RETURN 206,086. PART XI, LINE 4B - OTHER ADJUSTMENTS: COLLEGE FUNDED SCHOLARSHIPS AND GRANTS 17,611,532. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 754,565. RENTAL EXPENSES NETTED ON RETURN 206,086. ROUNDING -2. PART XII, LINE 4B - OTHER ADJUSTMENTS: COLLEGE FUNDED SCHOLARSHIPS AND GRANTS 17,611,532. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 CARROLL COLLEGE ADMITS STUDENTS OF ANY RACE, COLOR, AGE, SEX, NATIONAL AND ETHNIC ORIGIN TO ALL THE RIGHTS, PRIVILEGES, PROGRAMS, AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS AT THE COLLEGE. CARROLL COLLEGE DOES NOT DISCRMINATE ON THE BASIS OF RACE, COLOR, AGE, SEX, NATIONAL OR ETHNIC ORIGIN IN ADMINISTRATION OF ITS EDUCATIONAL POLICIES, ADMISSION POLICIES, SCHOLARSHIPS AND LOAN PAYMENTS AND ATHLETIC OR OTHER SCHOOL ADMINISTERED PROGRAMS. SCHEDULE E, PART I, LINE 6 FINANCIAL AID OR ASSISTANCE FROM GOVERNMENTAL AGENCIES: PERKINS LOAN PROGRAM COLLEGE WORK-STUDY PROGRAM SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT PROGRAM PELL GRANT PROGRAM MONTANA GUARANTEED STATE LOAN PROGRAM 1 ENDOWED SCHOLARSHIPS 356 940012 CASH GRANTS 104 486041 FEDERAL SEOG 189 62131 FEDERAL TEACH GRANTS 3 11790 FEDERAL PELL 309 1182797 VARIOUS FINANCIAL AID PROGRAMS 1389 16185479 PART I, LINE 2: CARROLL COLLEGE AND FEDERAL NEED-BASED GRANTS AND SCHOLARSHIPS ARE AWARDED BASED ON THE RESULTS OF THE FEDERAL FAFSA AND NEEDS ANALYSIS. NEW STUDENT MERIT SCHOLARSHIPS ARE BASED ON HIGH SCHOOL GPA AND TEST SCORES OR TRANSFER GPA FOR TRANSFER STUDENTS. STATE GRANT REPORTING IS COMPLETED EACH YEAR AFTER THE ACADEMIC YEAR IS COMPLETED. FEDERAL FISAP REPORTING IS COMPLETED PRIOR TO OCTOBER OF EACH YEAR FOLLOWING THE COMPLETION OF THE ACADEMIC YEAR. X X X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 THOMAS EVANS PRESIDENT 231230 0 0 0 0 0 10830 0 21353 0 263413 0 0 0 PAULA MCNUTT V.P. ACADEMIC AFFAIRS/DEAN 139692 0 0 0 0 0 7012 0 6727 0 153431 0 0 0 A LEWIS AND CLARK COUNTY MONTANA 816001383 NONENOTED 2008-07-18 2800000 HIGHER EDUCATION REVENUE NOTE SERIES 2008 0 0 0 B LEWIS AND CLARK COUNTY MONTANA 816001383 NONENOTED 2013-06-20 4250000 HIGHER EDUCATION REVENUE BOND SERIES 2013A-CAMPUS APARTMENTS 0 0 0 C LEWIS AND CLARK COUNTY MONTANA 816001383 NONENOTED 2013-07-25 12315000 HIGHER EDUCATION REVENUE REFUNDING BOND SERIES 2013B-TRINITY HALL 0 0 0 A 2800000 25400 2774600 2008 0 0 1 1 B 4250000 85000 4165000 2013 0 0 1 1 C 12315000 12315000 2003 1 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 A 0 X 1 4850 MARKET VALUE-GIFT DATE X 12 352733 MARKET VALUE-GIFT DATE X 1 200000 MARKET VALUE-GIFT DATE X MISCELLANEOUS 410 92815 MARKET VALUE-GIFT DA X AUTO LEASE 1 17000 MARKET VALUE-GIFT DA X PUBLIC SERVIC 1 8700 MARKET VALUE-GIFT DA 0 1 1 PART I, LINE 32B: THE COLLEGE USES APPROPRIATELY CERTIFIED PROFESSIONALS TO SELL NON-CASH GIFTS (SUCH AS SHARES OF STOCK OR REAL ESTATE) ON BEHALF OF THE COLLEGE. FORM 990, PART VI, SECTION A, LINE 3 FOOD SERVICES ON CAMPUS ARE PROVIDED THROUGH SODEXO AMERICA, LLC. THE TERMS OF THE CONTRACT ARE NEGOTIATED AT ARM'S LENGTH TO DETERMINE THAT THE COLLEGE WILL PAY NO MORE THAN THE FAIR MARKET VALUE OF THE SERVICES PROVIDED. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 TAX RETURN IS PREPARED FROM THE AUDITED FINANCIAL STATEMENTS, AND IS REVIEWED BY THE VP OF FINANCE AND ADMINISTRATION AND THE COLLEGE PRESIDENT BEFORE BEING SIGNED AND ISSUED. A COPY OF THE 990 TAX RETURN IS POSTED ON THE CARROLL COLLEGE INTRA-NET FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST DISCLOSURE ANNUALLY, AND TO INDICATE CONFLICTS OF INTEREST PRIOR TO PARTICIPATING IN THE DISCUSSION OF A TOPIC. ANY DISCLOSURE IS NOTED IN THE BOARD MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE COLLEGE'S PRESIDENT IS DETERMINED BY THE BOARD OF TRUSTEES, USING A PEER GROUP SALARY COMPARISON OF ROUGHLY 77 SIMILAR INSTITUTIONS. THE COLLEGE PRESIDENT'S CONTRACT IS REVIEWED BY THE FULL BOARD OF TRUSTEES. COMPENSATION OF ALL OTHER STAFF AND FACULTY IS DETERMINED BY COLLEGE POLICY AND FINANCIAL RESOURCES, INCLUDING A COMPARISON TO A PEER GROUP OF ROUGHLY 77 SIMILAR INSTITUTIONS. SALARY INCREASES ARE APPROVED BY THE BOARD AS PART OF APPROVING THE ANNUAL BUDGET. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATIONS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF SWAP CONTRACT 62,718. PRIOR PERIOD ADJUSTMENT FOR PLANNED GIFT ADJUSTMENT 500,000. 990 PART XII, LINE 2C-OVERSIGHT OF AUDIT CARROLL HAS AN AUDIT COMMITTEE THAT MAINTAINS OVERSIGHT OF THE AUDIT. NO CHANGE TO THIS PROCESS FROM PRIOR YEAR REPORTING.