2014-10-15T08:09:51-05:00 2014-05-31 420714325 MCGLADREY LLP 221 THIRD AVENUE SE STE 300 CEDAR RAPIDS IA 524011512 990 2013-06-01 420680323 UNIVERSITY OF DUBUQUE UNIV 5635893000 2000 UNIVERSITY AVENUE DUBUQUE IA 52001 JAMES STEINER VP OF FINANCE 5635893210 2014-10-13 1 KAY HEGARTY P00091057 3192985333 2013 2015-11-30 17:44:51Z JEFFREY F BULLOCK 2000 UNIVERSITY AVENUE DUBUQUE IA 52001 74192515 0 X WWW.DBQ.EDU X 1911 IA POSTSECONDARY AND GRADUATE LEVEL EDUCATION 33 23 1428 0 -42225 -42275 21341769 3930836 50777348 54112771 4589308 4516723 447809 -31338 77156234 62528992 14163807 15748981 0 0 23659813 24205483 0 0 1099153 21364687 23070504 59188307 63024968 17967927 -495976 227602235 231688773 70834573 70071298 156767662 161617475 X THE UNIVERSITY OF DUBUQUE IS A SMALL, PRIVATE UNIVERSITY AFFILIATED WITH THE PRESBYTERIAN CHURCH (U.S.A.) OFFERING UNDERGRADUATE, GRADUATE, AND THEOLOGICAL SEMINARY PROGRAMS. THE UNIVERSITY IS COMPRISED OF INDIVIDUALS FROM THE REGION, THE NATION, AND THE WORLD.AS A COMMUNITY, THE UNIVERSITY PRACTICES ITS CHRISTIAN FAITH BY EDUCATING STUDENTS AND PURSUING EXCELLENCE IN SCHOLARSHIP. THEREFORE, THE UNIVERSITY OF DUBUQUE IS COMMITTED TO:- THE PRESBYTERIAN TRADITION;- EXCELLENCE IN ACADEMIC INQUIRY AND PROFESSIONAL PREPARATION;- RELATIONSHIPS WHICH ENCOURAGE INTELLECTUAL, SPIRITUAL, AND MORAL DEVELOPMENT;- COMMUNITY WHERE DIVERSITY IS APPRECIATED AND CHRISTIAN LOVE IS PRACTICED;- STEWARDSHIP OF ALL GOD'S HUMAN AND NATURAL RESOURCES;- ZEAL FOR LIFE-LONG LEARNING AND SERVICE. 0 0 27815093 15748981 50542546 INSTRUCTION: 1910 FTE (UNDERGRADUATE, GRADUATE, AND SEMINARY STUDENTS) FALL 2013. LARGEST UNDERGRADUATE MAJORS INCLUDE BUSINESS ADMINISTRATION, FLIGHT OPERATIONS, AND HEALTH, WELLNESS, AND RECREATION. 10727719 594661 STUDENT SERVICES: INCLUDES ADMISSIONS, ATHLETICS, AND ALL AREAS OF STUDENT LIFE. 7222270 1829319 AUXILIARY SERVICES: INCLUDES UNIVERSITY BOOKSTORE, COFFEEHOUSE, AND DAYCARE FACILITIES. 3825041 1146245 ACADEMIC SUPPORT 3825041 1146245 49590123 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 1 1 94 0 1 1428 1 0 0 0 0 0 1 1 0 0 0 0 X 33 23 1 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 1 1 0 1 1 X JAMES STEINER VP OF FINANCE 5635893210 2000 UNIVERSITY AVE DUBUQUE IA 52001 REV DR JEFFREY BULLOCK PRESIDENT 40.00 X X 327522 0 82529 JOSEPH A CHLAPATY CHAIRMAN 1.00 X X 0 0 0 MARK C FALB VICE CHAIRMAN/TRUSTEE 1.00 X X 0 0 0 DOUGLAS J HORSTMANN SECRETARY-TREASURER/TRUSTEE 1.00 X X 0 0 0 MARK P BRODERSEN MD TRUSTEE 1.00 X 0 0 0 EDWARD A BABKA TRUSTEE 1.00 X 0 0 0 JOHN E BUTLER TRUSTEE 1.00 X 0 0 0 PATRICK M CRAHAN TRUSTEE 1.00 X 0 0 0 KIMBERLY M DAVID TRUSTEE 1.00 X 0 0 0 SUSAN R FARBER TRUSTEE 1.00 X 0 0 0 R GERALD FOX TRUSTEE 1.00 X 0 0 0 EDWARD J HANNON MD TRUSTEE 1.00 X 0 0 0 JEWEL KINTZINGER-DAY TRUSTEE 1.00 X 0 0 0 HON JAMES L MARTIN TRUSTEE 1.00 X 0 0 0 THOMAS WOODWARD TRUSTEE 1.00 X 0 0 0 KENT A PETERSON TRUSTEE 1.00 X 0 0 0 SUZANNE LUCK PREISS TRUSTEE 1.00 X 0 0 0 PHILLIP A RUPPEL TRUSTEE 1.00 X 0 0 0 SARAH J SLAUGHTER TRUSTEE 1.00 X 0 0 0 RONALD A STOCKDALE TRUSTEE 1.00 X 0 0 0 RICHARD C SVRLUGA TRUSTEE 1.00 X 0 0 0 WILLIAM J SVRLUGA JR TRUSTEE 1.00 X 0 0 0 REV CATHY F YOUNG TRUSTEE 1.00 X 0 0 0 JOHN G COUCHMAN TRUSTEE 1.00 X 0 0 0 CHARLES A DAOUD TRUSTEE 1.00 X 0 0 0 SCOTT A KNAPP TRUSTEE 1.00 X 0 0 0 REV BRUCE E HEDGEPETH TRUSTEE 1.00 X 0 0 0 JOHN D STOLTZ TRUSTEE 1.00 X 0 0 0 REV BRIAN W JONES ALUMNI REP TO THE BOARD 1.00 X 0 0 0 SCOTT TAYLOR TRUSTEE 1.00 X 0 0 0 RICHARD P FRANZEN ALUMNI REP TO THE BOARD 1.00 X 0 0 0 JACKALINE M DUNLAP TRUSTEE 1.00 X 0 0 0 JEFFERY KEITH TRUSTEE 1.00 X 0 0 0 OZELL HUDSON TRUSTEE 1.00 X 0 0 0 JAMES D STEINER VP FINANCE/ASST TREAS 40.00 X 162584 0 41633 DEBORAH BUOL ASSISTANT SECRETARY 40.00 X 62324 0 3558 ALAN GARFIELD ASSOC. PROF. COMPUTER GRAPHICS 40.00 X 115334 0 16393 DR MARK WARD VP OF ACADEMIC AFFAIRS 40.00 X 125946 0 14066 DR MICHAEL MIYAMOTO VP & DEAN OF STUDENT LIFE 40.00 X 102103 0 18642 895813 0 176821 5 0 1 0 CONLON CONSTRUCTION 1100 ROCKDALE RD DUBUQUE IA 52003 CONSTRUCTION SERVICES 12052791 AMERISERVE FOOD MANAGEMENT SERVICES 200 E WALNUT COLUMBIA MO 65203 FOOD SERVICE MANAGEMENT 2293343 COTTINGHAM & BUTLERSISCO BENEFITS 800 MAIN ST DUBUQUE IA 52001 INSURANCE & CLAIM ADMINISTRATION 1224043 THINK PATENTED 2490 CROSSPOINTE DR MIAMISBURG OH 45342 PRINTING SERVICES 247070 THE BRANDT COMPANY 3020 HICKORY GROVE RD DAVENPORT IA 52806 PRINTING SERVICES 236652 5 7375 488166 3435295 1037330 3930836 STUDENT REVENUES 611600 50542546 50542546 AUXILIARY ENTERPRISES 611600 1829319 1829319 1740906 1740906 54112771 1756890 1756890 74455 39535 34920 34920 34920 14348063 1220 11565375 24075 2782688 -22855 2759833 2759833 45425 7375 34538 10887 10887 K-1 PAXTON/PATTERSON 310000 -77145 -77145 -77145 62528992 52283452 -42225 6356929 15748981 15748981 639210 416944 222266 18599819 13997895 4178370 423554 778290 539577 218322 20391 2929605 1827785 1084517 17303 1258559 905965 322439 30155 2108924 2108924 14111 14111 267530 267530 102006 102006 801477 659404 112386 29687 849014 641484 207530 1626893 1022794 579386 24713 557840 27738 530102 1975135 1975135 604868 525634 49490 29744 75716 61962 13754 2000656 1625782 374874 5049022 3984024 1064998 638612 195742 442870 MEMBERSHIP & FEES 959990 103578 848493 7919 COST OF GOODS SOLD 892134 892134 CURRICULUM SUPPORT 725556 513986 211570 FEDERAL UBIT 90682 90682 3730338 2140917 1503530 85891 63024968 49590123 12335692 1099153 19980352 12303020 20290701 19154520 2234971 2259409 337429 345497 462689 513064 171829948 56884055 107861718 114945893 49606525 55222311 21966215 21362091 3550394 4248715 1311241 1334253 227602235 231688773 6116448 6804614 1853177 2260168 45900000 44960000 4189405 3865012 2531277 2400000 10244266 9781504 70834573 70071298 X 78801543 76126249 22340108 29400448 55626011 56090778 156767662 161617475 227602235 231688773 X -495976 5119067 226722 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 86953263 449651 8872231 572589 1970298 120687 93611571 80036164 -9268 10603225 591190 2990617 95051 86953263 82744290 2511563 -2736330 500310 1859737 123312 80036164 67478626 7802907 9331465 420419 1333142 115147 82744290 62473395 1449215 5528299 503113 1330133 139037 67478626 0.23360 0.59920 0.16720 1 0 2297902 2297902 134002717 36277407 97725310 1556148 690929 865219 24208251 19915719 4292532 9764930 9764930 114945893 INVESTMENTS IN TRUSTS HELD BY OTHERS 1502276 F PRIVATE NOTES RECEIVABLE 480033 C REAL ESTATE - INVESTMENT 1364397 C PRIVATELY HELD STOCK 15044067 C INVESTMENT IN LLC 1971886 F MISCELLANEOUS INVESTMENTS 889530 C CSV OF LIFE INS POLICIES 109902 F 21362091 STUDENTS' DEPOSITS 540210 DUE TO U.S. GOV'T-PERKINS LOAN PROGRAM 1124680 ACCRUED LOSS ON INTEREST RATE SWAP 7591731 ANNUITY OBLIGATION 524883 9781504 X 52097987 5119067 -15522259 -10403192 62501179 101886 -74073 27813 62528992 47248174 74073 74073 47174101 101886 15748981 15850867 63024968 PART V, LINE 4: ENDOWMENT FUNDS SUPPORT STUDENT SCHOLARSHIPS, ACADEMIC PROGRAMMING, AND INSTITUTIONAL SUPPORT. PART X, LINE 2: THE UNIVERSITY IS RECOGNIZED AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE UNIVERSITY MAY BE 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 AND UNRELATED BUSINESS INCOME (UBI) IS REPORTED ON FORM 990-T, AS APPROPRIATE. MANAGEMENT HAS EVALUATED THEIR MATERIAL TAX POSITIONS, WHICH INCLUDE SUCH MATTERS AS THE TAX EXEMPT STATUS OF THE ENTITY AND VARIOUS POSITIONS RELATIVE TO POTENTIAL SOURCES OF UBI. AS OF MAY 31, 2014 AND 2013, THERE WERE NO UNCERTAIN TAX BENEFITS IDENTIFIED AND RECORDED AS A LIABILITY. FORMS 990 AND 990-T FILED BY THE UNIVERSITY ARE NO LONGER SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR THE FISCAL YEARS ENDED MAY 31, 2010 AND PRIOR. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS SHOWN AS CONTRA INCOME -15,748,981. PAXTON PATTERSON K-1 BOOK/TAX DIFFERENCE -348,988. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -58,428. UNREALIZED GAIN (LOSS) ON INTEREST RATE SWAP 634,138. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES NETTED WITH FUNDRAISING REVENUE FOR 990 -34,538. RENTAL EXPENSES NETTED WITH REVENUE FOR 990 -39,535. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE NETTED WITH RENTAL INCOME FOR 990 39,535. FUNDRAISING EXPENSES NETTED WITH FUNDRAISING REVENUE FOR 990 34,538. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS SHOWN AS CONTRA INCOME 15,748,981. 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 POLICY IS PUBLISHED IN VARIOUS NEWSPAPERS AND BROCHURES FOR PROSPECTIVE STUDENTS. 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. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDY ABROAD EXPENSES 4056 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STUDY ABROAD EXPENSES 14195 SOUTH ASIA 0 0 PROGRAM SERVICES STUDY ABROAD EXPENSES 573 EUROPE (INCLUDING ICELAND & GREENLAND) INVESTMENTS 194823 NORTH AMERICA INVESTMENTS 102398 0 0 0 0 0 0 316045 0 316045 0 0 1 0 0 0 PART I, LINE 3: FOREIGN EXPENDITURES ARE REPORTED ON A FISCAL YEAR ACCRUAL ACCOUNTING BASIS. GOLF OUTING 52800 7375 45425 20315 14223 52800 7375 45425 20315 14223 34538 10887 1 SCHOLARSHIPS & GRANTS 1764 15748981 N/A N/A PART I, LINE 2: DISBURSEMENTS TO STUDENTS RECEIVING FINANCIAL AID ARE MADE IN ACCORDANCE WITH INSTITUTIONAL PROCEDURES TO ENSURE THAT THOSE RECEIVING AID ARE QUALIFYING RECIPIENTS. FEDERAL FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENTAL AGENCY IS DISTRIBUTED TO STUDENTS USING FEDERALLY APPROVED FINANCIAL NEED ANALYSIS CRITERIA. X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 REV DR JEFFREY BULLOCK PRESIDENT 245923 0 76115 0 5484 0 46600 0 35929 0 410051 0 0 0 JAMES D STEINER VP FINANCE/ASST TREAS 139761 0 22500 0 323 0 23270 0 18363 0 204217 0 0 0 PART I, LINE 1A REV. DR. JEFFREY BULLOCK, PRESIDENT IS PROVIDED WITH NON-TAXABLE HOUSING WHICH INCLUDES UTILITIES AND RESIDENTIAL CLEANING SERVICES. THE UNIVERSITY SUPPORTS ITS PRESIDENT LIVING IN THE PRESIDENTIAL HOUSE OWNED BY THE UNIVERSITY BECAUSE OF ITS REQUIREMENT THAT THE PRESIDENT CONDUCT SIGNIFICANT BUSINESS ACTIVITIES AND UNIVERSITY RELATED ENTERTAINMENT ON UNIVERSITY PROPERTY. THE RESIDENCE LOCATED IN NEAR PROXIMITY TO CAMPUS WHICH IS OWNED BY THE UNIVERSITY, IS DESIGNATED AS THE OFFICIAL PRESIDENTIAL HOUSE. THE VALUE OF THE HOUSING AND RELATED SERVICES IS REPORTED AS OTHER COMPENSATION ON FORM 990, PAGE 7, PART VII, SECTION A, COLUMN (F) AND SCHEDULE J, PAGE 2, PART II, COLUMN (D). THE ORGANIZATION PAYS COUNTRY CLUB DUES ON BEHALF OF REV. DR. JEFFREY BULLOCK, PRESIDENT, JAMES D. STEINER, VP OF FINANCE & AUXILIARY SERVICES, AND DR. MARK WARD, VP OF ACADEMIC AFFAIRS. THE PORTION OF THE PAYMENT FOR COUNTRY CLUB DUES THAT IS DEEMED TO BE FOR PERSONAL USE IS TAXABLE TO THE EMPLOYEE AND IS REPORTED IN REPORTABLE COMPENSATION ON FORM 990, PAGE 7, PART VII, SECTION A, COLUMN (D) AND SCHEDULE J, PAGE 2, PART II, COLUMN (B)(III). THE PORTION OF THE PAYMENT FOR COUNTRY CLUB DUES THAT IS DEEMED TO BE FOR BUSINESS USE IS EXCLUDED FROM COMPENSATION AS A WORKING CONDITION FRINGE BENEFIT. A IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 462460SK3 2004-05-27 13200000 UD CONSTRUCTION PROJECTS/BOND REFUNDING 0 0 0 B IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 462460C38 2007-04-04 34700000 UD CONSTRUCTION PROJECTS/BOND REFUNDING 0 0 0 C IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 462460Z25 2014-05-15 6070000 WORKING CAPITAL 0 0 0 D IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 462460S31 2011-07-27 8771762 REFUNDING REVENUE BONDS 0 0 0 A 13200000 1039039 167475 -12775 11998711 2005 1 0 1 1 B 34700000 10710000 345351 -94566 23550083 2008 1 0 1 1 C 6070000 70115 78121 6078005 0 0 1 1 D 8771762 889500 7706827 175435 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 D 0 0 0 0 0 0 1 A 0 0 1 0 1 1 PIPER JAFFRAY 25.000000000000 0 0 0 0 1 B 0 0 1 0 1 1 PIPER JAFFRAY 28.000000000000 0 0 0 0 1 C 0 0 1 0 0 0 0 0 1 D 0 0 1 0 0 0 0 0 1 A 1 B 1 C 1 D 1 COTTINGHAM & BUTLERSISCO SEE SCH L, PART V 2825305 SEE PART V 0 MICHAEL STOLTZ SEE SCH L, PART V 10187 SEE PART V 0 DUBUQUE BANK & TRUST SEE SCH L, PART V 282735 SEE PART V 0 AMY STEINER SEE SCH L, PART V 35576 SEE PART V 0 ROY BUOL SEE SCH L, PART V 37413 SEE PART V 0 SHANE BESLER SEE SCH L, PART V 75556 SEE PART V 0 AMERICAN TRUST & SAVINGS SEE SCH L, PART V 160432 SEE PART V 0 SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS (A) NAME OF PERSON: COTTINGHAM & BUTLER/SISCO BENEFITS(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: JOHN E. BUTLER, TRUSTEE IS >35% OWNER, CHAIRMAN, AND CEO OF COTTINGHAM & BUTLER AND SISCO BENEFITS (SUBSIDIARY).(D) DESCRIPTION OF TRANSACTION: THE ORGANIZATION PURCHASES INSURANCE PRODUCTS AND HEALTH INSURANCE CLAIM ADMINISTRATION SERVICES FROM COTTINGHAM & BUTLER/SISCO BENEFITS.(A) NAME OF PERSON: MICHAEL STOLTZ(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: FAMILY MEMBER OF JOHN D. STOLTZ, TRUSTEE.(D) DESCRIPTION OF TRANSACTION: MICHAEL STOLTZ IS A PAID EMPLOYEE OF THE UNIVERSITY OF DUBUQUE.(A) NAME OF PERSON: DUBUQUE BANK & TRUST COMPANY(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: DOUGLAS J. HORSTMANN, SECRETARY-TREASURER/TRUSTEE IS PRESIDENT/CEO OF THE BANK. MARK C. FALB, VICE CHAIRMAN/TRUSTEE, PATRICK M. CRAHAN, TRUSTEE, THOMAS WOODWARD, TRUSTEE, SCOTT A. KNAPP, TRUSTEE, AND KIMBERLY M. DAVID, TRUSTEE ARE ON THE BANK BOARD OF DIRECTORS.(D) DESCRIPTION OF TRANSACTION: AGGREGATE INTEREST & FEES PAID/RECEIVED BY THE UNIVERSITY OF DUBUQUE.(A) NAME OF PERSON: AMY STEINER(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: FAMILY MEMBER OF JAMES D. STEINER, VP OF FINANCE & AUXILIARY SERVICES.(D) DESCRIPTION OF TRANSACTION: AMY STEINER IS A PAID EMPLOYEE OF THE UNIVERSITY OF DUBUQUE.(A) NAME OF PERSON: ROY BUOL(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: FAMILY MEMBER OF DEBORAH BUOL, ASSISTANT SECRETARY.(D) DESCRIPTION OF TRANSACTION: ROY BUOL IS A PAID EMPLOYEE OF THE UNIVERSITY OF DUBUQUE.(A) NAME OF PERSON: SHANE BESLER(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: FAMILY MEMBER OF DEBORAH BUOL, ASSISTANT SECRETARY.(D) DESCRIPTION OF TRANSACTION: SHANE BESLER IS A PAID EMPLOYEE OF THE UNIVERSITY OF DUBUQUE.(A) NAME OF PERSON: AMERICAN TRUST & SAVINGS BANK(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: SUSAN R. FARBER, TRUSTEE IS ON THE BANK BOARD OF DIRECTORS.(D) DESCRIPTION OF TRANSACTION: AGGREGATE INTEREST & FEES PAID/RECEIVED BY THE UNIVERSITY OF DUBUQUE. X 18 SEE SCH M, PART II X 28 1037303 FMV X 2 2 SEE SCH M, PART II X EDU MATERIALS 3 3 SEE SCH M, PART II X PROMO ITEMS 2 2 SEE SCH M, PART II X EQUIPMENT 2 2 SEE SCH M, PART II 0 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. SCHEDULE M, PART I, COLUMN (D): VALUES ARE ASSIGNED ONLY AT THE REQUEST OF THE DONOR. WHEN VALUATION IS REQUESTED BY THE DONOR, THE ORGANIZATION REQUIRES AN APPRAISAL OR COST DOCUMENTATION. IF NO VALUATION IS REQUESTED BY THE DONOR, A VALUE OF ONE DOLLAR IS ASSIGNED TO EACH CONTRIBUTION. FORM 990, PART VI, SECTION A, LINE 1 IN GENERAL, COMPENSATED OFFICERS OF THE BOARD DO NOT HAVE VOTING POWER. ALTHOUGH THE ORGANIZATION'S ARTICLES OF INCORPORATION GRANT VOTING POWER TO THE PRESIDENT, THE ORGANIZATION'S CURRENT PRESIDENT, REV. DR. JEFFREY BULLOCK, DOES NOT EXERCISE THIS RIGHT TO VOTE AS A COMPENSATED OFFICER. PURSUANT TO THE ARTICLES, THE PRESIDENT HAS BEEN INCLUDED IN THE TOTAL OF VOTING MEMBERS REPORTED ON LINE 1. OTHER THAN COMPENSATED OFFICERS WHO DO NOT VOTE, ALL MEMBERS OF THE BOARD HAVE EQUAL VOTING POWER OF ONE VOTE PER INDIVIDUAL. FORM 990, PART VI, SECTION A, LINE 2 (1) REV. DR. JEFFREY BULLOCK, PRESIDENT AND JOSEPH A. CHLAPATY, CHAIRMAN/TRUSTEE HAVE A BUSINESS RELATIONSHIP TO THE EXTENT THAT BOTH SERVE ON THE BOARD OF PAXTON-PATTERSON, LLC. THEIR ROLE AS BOARD MEMBERS IS TO REPRESENT THE UNIVERSITY OF DUBUQUE'S 40% INTEREST IN PAXTON-PATTERSON, LLC. (2) REV. DR. JEFFREY BULLOCK, PRESIDENT AND SCOTT A. KNAPP, TRUSTEE HAVE A BUSINESS RELATIONSHIP. (3) RICHARD C. SVRUGLA, TRUSTEE AND WILLIAM J. SVRUGLA, JR., TRUSTEE HAVE A FAMILY RELATIONSHIP. (4) MARK C. FALB, VICE CHAIRMAN/TRUSTEE, DOUGLAS J. HORSTMANN, SECRETARY-TREASURER/TRUSTEE, PATRICK M. CRAHAN, TRUSTEE, THOMAS WOODWARD, TRUSTEE, SCOTT A. KNAPP, TRUSTEE, AND KIMBERLY M. DAVID, TRUSTEE HAVE A BUSINESS RELATIONSHIP. (5) PHILLIP A. RUPPEL, TRUSTEE, THOMAS WOODWARD, TRUSTEE, AND SCOTT TAYLOR, TRUSTEE HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 7B INDIVIDUALS ARE ELECTED TO THE BOARD OF TRUSTEES BY VOTE OF THE MAJORITY OF TRUSTEES. THE ARTICLES OF INCORPORATION PROVIDE THAT SUCH ELECTIONS ARE SUBJECT TO CONFIRMATION OR APPROVAL BY THE GENERAL ASSEMBLY OF THE PRESBYTERIAN CHURCH OF THE UNITED STATES OF AMERICA. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WAS REVIEWED BY THE FINANCE COMMITTEE AT THE FINANCE COMMITTEE MEETING PRIOR TO FILING THE FORM 990 WITH THE IRS. THE HIGH-LEVEL REVIEW WAS LED BY THE EXTERNAL ACCOUNTANT (THE SIGNING PAID PREPARER OF THE RETURN). A COPY OF THE ORGANIZATION'S FINAL FORM 990 (INCLUDING REQUIRED SCHEDULES), AS ULTIMATELY FILED WITH THE IRS, WAS PROVIDED TO EACH VOTING MEMBER OF THE ORGANIZATION'S GOVERNING BODY IN ELECTRONIC FORM VIA THE BOARD'S SECURE WEBSITE PRIOR TO ITS FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE UNIVERSITY ANNUALLY SENDS A QUESTIONNAIRE TO ALL BOARD MEMBERS, CABINET, AND KEY EMPLOYEES DETERMINED BY THE UNIVERSITY (SUCH AS ALL DIRECTORS IN ADVANCEMENT OFFICE, CONTROLLER, DIRECTOR OF CONSTRUCTION MANAGEMENT, ETC.) ASKING EACH TO DETERMINE ANY RELATED PARTY/CONFLICT OF INTEREST DISCLOSURES. RESPONSES ARE REVIEWED TO DETERMINE IF THERE ARE ANY POTENTIAL PROBLEMS. FORM 990, PART VI, SECTION B, LINE 15A THERE IS A BOARD OF TRUSTEES COMMITTEE THAT SETS FORTH ANNUAL GOALS FOR THE PRESIDENT. HIS PERFORMANCE IS EVALUATED ANNUALLY (APPROXIMATELY JUNE OR JULY) BASED ON THE GOALS OUTLINED. HIS ANNUAL COMPENSATION AND ANY BONUS COMPENSATION ARE THEN DETERMINED AND APPROVED BY THE COMMITTEE. THE COMMITTEE ALSO USES COMPARATIVE DATA FROM THE IOWA ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES (IAICU) IN DETERMINING COMPENSATION. THE PRESIDENT EVALUATES AND DETERMINES EACH CABINET MEMBER'S COMPENSATION USING IAICU DATA AND ANNUAL PERFORMANCE. EACH CABINET MEMBER HAS LONG-TERM PERFORMANCE GOALS IN THE STRATEGIC PLAN, WHICH GOES THROUGH 2015. ALTHOUGH ANNUAL GOALS ARE DOCUMENTED IN THE STRATEGIC PLAN, EACH CABINET MEMBER HAS A CLEAR UNDERSTANDING OF WHAT S/HE IS TO DO. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY IS REQUIRED TO POST FINANCIAL STATEMENTS FOR THE PUBLIC DUE TO ITS HOLDING OF PUBLIC DEBT. THE UNIVERSITY COMPLIES WITH THIS REQUIREMENT BY POSTING ITS FINANCIAL STATEMENTS ON AN EXTERNAL, THIRD PARTY WEBSITE. OTHER FINANCIAL INFORMATION, GOVERNING DOCUMENTS, AND POLICIES ARE NOT PUBLIC INFORMATION. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -58,428. UNREALIZED GAIN (LOSS) ON INTEREST RATE SWAP 634,138. BOOK-TAX DIFFERENCE ON PAXTON/PATTERSON LLC -348,988. PAXTONPATTERSON LLC 7523 S SAYRE AVENUE CHICAGO IL 60638 331084590 SALES OF EDUCATIONAL LAB EQUIPMENT DE UNRELATED 0 -77145 1985338 0 0 0.40000