2014-01-13T10:05:58-06:00 2013-05-31 420714325 MCGLADREY LLP 221 THIRD AVENUE SE STE 300 CEDAR RAPIDS IA 524011512 990 2012-06-01 420680466 LUTHER COLLEGE LUTH 5633871015 700 COLLEGE DRIVE DECORAH IA 52101 DIANE TACKE 5633871015 2014-01-10 1 KAY HEGARTY P00091057 3192985333 2012 2015-11-30 17:44:51Z RICHARD TORGERSON 700 COLLEGE DRIVE DECORAH IA 52101 137490184 0 9386 X WWW.LUTHER.EDU X 1865 IA ON A CAMPUS OF MORE THAN 800 ACRES ALONG THE BANKS OF THE UPPER IOWA RIVER IN DECORAH, IOWA, LUTHER IS A TRUE RESIDENTIAL CAMPUS WITH 90 PERCENT OF STUDENTS LIVING ON CAMPUS AND NEARLY 95 PERCENT OF FACULTY CHOOSING TO LIVE WITHIN FIVE MILES OF IT. LUTHER'S STUDENT BODY INCLUDES 2,500 MEN AND WOMEN (42 PERCENT AND 58 PERCENT RESPECTIVELY) FROM 38 STATES AND NEARLY 50 FOREIGN COUNTRIES. U.S. STUDENTS OF COLOR CONSTITUTE 7.4 PERCENT OF THE STUDENT BODY. APPROXIMATELY 70 PERCENT OF LUTHER STUDENTS VOLUNTEER DURING THEIR TIME HERE, EXHIBITING THE HIGH SERVICE ETHIC INTRINSIC TO LUTHER CULTURE. THE COLLEGE STRIVES TO BE A PLACE WHERE PEOPLE OF ALL CONVICTIONS CAN REALIZE PERSONAL, INTELLECTUAL, AND SPIRITUAL GROWTH. 30 29 3293 1118 47002 -9547 9793535 12333157 103632408 106420549 3865157 5274868 2155177 1710154 119446277 125738728 38984345 42827141 0 0 40048268 39727653 0 0 3979783 35378963 36035406 114411576 118590200 5034701 7148528 261559481 282097981 64519941 66107916 197039540 215990065 X LUTHER COLLEGE IS A FOUR-YEAR, RESIDENTIAL LIBERAL ARTS INSTITUTION OFFERING MORE THAN 70 MAJORS, MINORS, AND PREPROFESSIONAL PROGRAMS. FOUNDED BY THE NORWEIGIAN EVANGELICAL LUTHERAN CHURCH IN 1861, LUTHER WELCOMES STUDENTS OF ALL BACKGROUND TO ENGAGE IN A WAY OF LEARNING THAT MOVES BEYOND IMMEDIATE INTERESTS AND ENCOURAGES STUDENTS TO BUILD A LIFE OF CONSEQUENCE. AT THE HEART OF A LUTHER EDUCATION IS AN UNDERSTANDING OF THE WAY FAITH AND LEARNING INTERSECT AND IN TURN CONNECT STUDENTS TO THE LARGER WORLD. 0 0 73533550 42827141 87060968 INSTRUCTION: LUTHER OFFERS 41 MAJORS, 37 MINORS AND INTERDISCIPLINARY MINORS, AND 10 PREPROFESSIONAL AND SPECIFIC PROGRAMS. LUTHER'S SIGNATURE PAIDEIA PROGRAM, AN INTERDISCIPLINARY COURSE SERIES OFFERED FOR MORE THAN 30 YEARS, HELPS INTEGRATE LEARNING AND BUILDS COMMUNITY THROUGH SHARED ACADEMIC EXPERIENCE. THE COLLEGE'S MUSIC PROGRAM, IN WHICH STUDENTS TRAIN IN PERFORMANCE, CONDUCTING, COMPOSITION, AND EDUCATION, HAS SIX CHOIRS, THREE BANDS, THREE ORCHESTRAS AND TWO JAZZ BANDS, MANY OF WHICH TOUR NATIONALLY AND INTERNATIONALLY. A VIBRANT OFF-CAMPUS STUDENT PROGRAM DRAWS 75% OF STUDENTS TO STUDY ABROAD PRIOR TO GRADUATION. LUTHER HAS 178 FULL-TIME FACULTY (90 PERCENT WITH A TERMINAL DEGREE) AND A 12:1 STUDENT-FACULTY RATIO. TOTAL ENROLLMENT WAS 2,421 FTE STUDENTS IN THE FALL OF 2012. 549 STUDENTS GRADUATED IN THE 2012-13 ACADEMIC YEAR. 15889896 926277 ACADEMIC SUPPORT AND STUDENT SERVICES: A STUDENT ACADEMIC SUPPORT CENTER PROVIDES SERVICES, BASED ON BEST PRACTICES IN LEARNING ASSISTANCE, INCLUDING NEEDS ASSESSMENT, STUDENT-TO-STUDENT TUTORING, AND ONE-ON-ONE INSTRUCTION WITH PROFESSIONAL STAFF. IN COLLABORATION WITH FACULTY AND OTHER STAFF, SASC COORDINATES SPECIALIZED SERVICES FOR STUDENTS WITH DISABILITIES, MANAGES THE ACADEMIC ALERT SYSTEM, AND SUPPORTS INITIATIVES OF THE ADVISING PROGRAM. ACADEMIC ADVISING IS DONE BY FACULTY. RESEARCH AND TECHNOLOGY SUPPORT ARE PROVIDED THROUGH AN EXTENSIVE LIBRARY AND INFORMATION SERVICES PROGRAM. THE COLLEGE HAS MORE THAN 100 STUDENT ORGANZIATIONS ALONG WITH COLLEGE MINISTRIES, HEALTH SERVICES, AND RECREATION AND WELLNESS PROGRAMS. ABOUT 75% OF STUDENTS ARE ENGAGED IN WORK STUDY TO SERVE THE LUTHER COMMUNITY, GAIN IMPORTANT WORK EXPERIENCE, AND EARN MONEY TOWARD EXPENSES. 16850306 18433304 AUXILIARY ENTERPRISES: THE RESIDENTIAL EXPERIENCE IS CENTRAL TO THE LUTHER EXPERIENCE; LUTHER RESIDENCE HALLS PROVIDE STUDENTS WITH A SAFE AND WELCOMING SECOND HOME. IN FALL 2012, LUTHER'S RESIDENCE HALLS HOUSED 2,107 STUDENTS. 2,128 STUDENTS USED THE COLLEGE'S DINING SERVICE. 405533 PUBLIC SERVICE: OFFERINGS TO THE BROADER COMMUNITY INCLUDE A COLLEGE RADIO STATION, CONFERENCES AND SEMINARS, A PERFORMING ARTS SERIES, AND A VARIETY OF PROGRAMS IN THE ARTS, ATHLETICS, SCIENCES, AND LEADERSHIP DEVELOPMENT FOR HIGH SCHOOL STUDENTS. 298700 RESEARCH: THE COLLEGE RECEIVES GRANTS FOR FACULTY/STUDENT RESEARCH COLLABORATION, PARTICULARLY IN THE SCIENCES. THE COLLEGE DEDICATES SPACE, RESOURCES, AND FACULTY TIME FOR COLLABORATIVE INVESTIGATION WITH STUDENTS. RESEARCH PROJECTS ACROSS THE CURRICULUM OCCUR DURING THE ACADEMIC YEAR AND IN THE SUMMER. 704233 106977985 1 1 0 0 0 0 0 1 1 1 1 1 0 0 1 1 0 1 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 0 0 1 X 4479 0 1 3293 1 1 1 1 GM IT MT UK 0 0 0 1 1 0 0 0 0 X 30 29 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 1 1 AK MA MD MI NH X DIANE TACKE 5633871015 700 COLLEGE DRIVE DECORAH IA 52101 JUDY VIJUMS 1.00 0.00 X 0 0 0 RUSSELL BRUEMMER 1.00 0.00 X 0 0 0 RONALD HAVE 1.00 0.00 X 0 0 0 ARNE M SORENSON 1.00 0.00 X 0 0 0 GREGORY D FIELDS 1.00 0.00 X 0 0 0 JON M STELLMACHER 1.00 0.00 X 0 0 0 SANDRA LEE 1.00 0.00 X X 0 0 0 PAULA R MEYER 1.00 0.00 X 0 0 0 MARSHA D OLCH 1.00 0.00 X 0 0 0 STEVEN OVERHOLT 1.00 0.00 X 0 0 0 MARILYN H ROVERUD 1.00 0.00 X X 0 0 0 STEVEN SCHAVER 1.00 0.00 X 0 0 0 PAUL TORGERSON 1.00 0.00 X X 0 0 0 MARTI RODAMAKER 1.00 0.00 X 0 0 0 GEORGE D KUH 1.00 0.00 X 0 0 0 DAVID K LIETZ 1.00 0.00 X 0 0 0 TIMOTHY J OITZMAN 1.00 0.00 X 0 0 0 MICHAEL BURK 1.00 0.00 X 0 0 0 PEGGY ETTESTAD 1.00 0.00 X 0 0 0 DAVID MEYER 1.00 0.00 X 0 0 0 STEVEN BARNES 1.00 0.00 X 0 0 0 SUSAN SORLIEN 1.00 0.00 X 0 0 0 DIANE THORMODSGARD 1.00 0.00 X 0 0 0 WENDY DAVIDSON 1.00 0.00 X 0 0 0 ENWEI XIE 1.00 0.00 X 0 0 0 CHINYERE UKABIALA 1.00 0.00 X 0 0 0 DENNIS FLATNESS 1.00 0.00 X 0 0 0 KATHERINE JOHNSON-BECKLIN 1.00 0.00 X 0 0 0 RICHARD THEILER 1.00 0.00 X 0 0 0 LANCE VANDER LINDEN 1.00 0.00 X 0 0 0 RICHARD TORGERSON 40.00 0.00 X 263671 0 62699 DIANE TACKE 40.00 0.00 X 148644 0 35388 KEITH CHRISTENSEN 40.00 0.00 X 141111 0 38476 SCOT SCHAEFFER 40.00 0.00 X 129941 0 55967 KEVIN KRAUS 40.00 0.00 X 129769 0 58793 ROBIN LARSON 40.00 0.00 X 86893 0 44795 COREY LANDSTROM 40.00 0.00 X 51132 0 11166 DAVID MITCHELL 40.00 0.00 X 101918 0 54982 ANN HIGHUM 40.00 0.00 X 63324 0 12402 ELWIN FARWELL 0.00 0.00 X 21838 0 0 1138241 0 374668 8 1 1 0 OPUS DESIGN BUILD LLC STE 206-11 1200 35TH STREET WEST DES MOINES IA 50266 CONSTRUCTION 8444402 SODEXO INC 10 EARHART DRIVE WILLIAMSVILLE NY 14221 DINING SERVICES 7086947 MERIT CONTRACTING 4750 HIGHWAY 63 NORTH ROCHESTER MN 55906 CONSTRUCTION 312817 TWIN CITIES PUBLIC TELEVISION INC 172 E FOURTH ST ST PAUL MN 55101 FILM PRODUCTION 231209 VICK'S HEATING & PLUMBING 1785 STATE HIGHWAY 9 DECORAH IA 52101 HEATING & PLUMBING 180530 8 68049 2231408 10033700 1685871 12333157 TUITION & FEES 611310 87060968 87060968 SALES & SERVICE OF AUXILIARY SERV 611310 18433304 18387776 45528 SALES & SERVICE OF EDUCATIONAL AC 611710 926277 926277 106420549 2513950 2513950 93646 113108 -19462 -19462 -19462 14328775 29410 11597267 0 2731508 29410 2760918 2760918 43429 68049 41081 2348 2348 MISCELLANEOUS 611310 571728 571728 SUMMER PROGRAMS 721000 423400 14918 408482 ALTERNATIVE INVESTMENTS 611310 289100 289100 443040 -13444 456484 1727268 125738728 106375021 47002 6983548 42827141 42827141 1280283 436769 663927 179587 28331824 24197879 2719713 1414232 2288128 1935894 223945 128289 5896062 4867114 712478 316470 1931356 1618581 206880 105895 42365 60 42305 130327 130327 75589 75589 205949 24233 168584 13132 2065620 1781732 150808 133080 243737 98843 81718 63176 8663767 7914902 374432 374433 3184848 2844454 150595 189799 1238138 909237 101366 227535 1462981 1416452 23265 23264 6081816 5735918 86474 259424 18685 18685 EQUIPMENT RENTAL/MAINTE 8648707 6835434 1535016 278257 MISCELLANEOUS 1355247 1511077 -168461 12631 PRINTING 582727 360943 131421 90363 POSTAGE 243256 123721 76342 43193 1791647 1537601 127023 127023 118590200 106977985 7632432 3979783 37229270 34920766 5575027 5656071 239707 151512 1325420 1036463 367486 401020 418483 661632 177477637 88875395 86284722 88602242 89299492 103878153 25170237 26793010 7222350 7011607 8427287 12985505 261559481 282097981 8362985 8519739 5552601 5455786 292275 246023 33466923 34460864 145474 178042 9823 16689860 17247462 64519941 66107916 X 85311099 89955234 22538829 30620439 89189612 95414392 197039540 215990065 261559481 282097981 X 7148528 9756707 2045290 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13975 54050 X X X X 0 0 1 X 117574411 6397216 14994585 3057636 2496308 133412268 120237276 4523604 -2067509 2791481 2327479 117574411 102864370 5777581 17375491 2742859 3037307 120237276 94831214 4419467 8669457 2814961 2240807 102864370 120812405 3720052 -24637873 2772337 2291033 94831214 0.17400 0.65300 0.17300 0 0 74043 520538 594581 2591608 132746750 59915632 75422726 9187034 4999831 4187203 32328637 23959932 8368705 29027 29027 88602242 24782441 F INVESTMENT IN SUBSIDIARY 2010569 C 26793010 ANNUITIES PAYABLE 6104618 ASSET RETIREMENT OBLIGATION 1978150 DEPOSITS HELD IN CUSTODY FOR OTHERS 448722 OTHER LIABILITIES 5017595 INTEREST RATE SWAP LIABILITY 2847395 CAPITAL LEASE OBLIGATION 850982 17247462 X 95121947 9756707 1339409 11096116 84025831 75586 41637311 41712897 125738728 76171422 113108 113108 76058314 75586 42456300 42531886 118590200 PART III, LINE 4: WORKS IN THE COLLECTION INCLUDE PAINTINGS, DRAWINGS, WORKS PRODUCED THROUGH PRINT; PHOTOGRAPHIC; OR OTHER TECHNIQUES WHICH PRODUCE MULTIPLE ORIGINALS; SCULPTURE IN MEDIA; ASSEMBLAGES; TEXTILE; CERAMICS; AND UTILITARIAN OR RITUAL OBJECTS IN ANY MEDIUM WHOSE PRINCIPLE VALUE RESIDES IN THEIR AESTHETIC MERIT. THE FINE ARTS COLLECTION EXISTS TO SUPPORT THE GENERAL MISSION OF THE COLLEGE BY PROMOTING AWARENESS AND UNDERSTANDING OF A BROAD SPECTRUM OF ARTISTIC EXPRESSION THROUGH DIVERSITY IN MEDIA, CULTURE, AND HISTORICAL PERSPECTIVE. AS UNIQUE EXPRESSIONS OF THE HUMAN CONDITION, WORKS IN THE COLLECTION INVIGORATE LEARNING AND TEACHING, AND PROVIDE EXPANDED OPPORTUNITIES FOR STUDY, RESEARCH, AND INDIVIDUAL PLEASURE. PART IV, LINE 2B: STUDENT DEPOSIT ACCOUNTS ARE HELD BY THE COLLEGE FOR VARIOUS STUDENT GROUPS ON CAMPUS AND ARE SHOWN AS LIABILITIES ON THE ORGANIZATION'S BALANCE SHEET. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: LUTHER ENDOWMENT FUNDS ARE USED TO AWARD SCHOLARSHIPS TO STUDENTS AND TO COVER PROGRAM RELATED EXPENSES. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE COLLEGE 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 COLLEGE FOR UNCERTAIN TAX POSITIONS AS OF MAY 31, 2013 AND 2012. THE COLLEGE'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE TAX RETURNS FOR FISCAL YEARS 2010 AND THEREAFTER ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 113,108. ACTUARIAL ADJUSTMENTS 1,226,301. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDED/UNFUNDED SCHOLARSHIPS 42,827,141. INTEREST RATE SWAP -918,280. BOOK/TAX DIFFERENCE FROM K-1S -13,444. REVENUE FROM SUBSIDIARY -258,108. ROUNDING 2. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 113,108. PART XII, LINE 4B - OTHER ADJUSTMENTS: FUNDED/UNFUNDED SCHOLARSHIPS 42,827,141. EXPENSE FROM SUBSIDIARY -370,841. 1 1 0 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 EXPLANATION OF NONDISCRIMINATION POLICY: THE COLLEGE CATALOG, VIEW BOOK, APPLICATION FOR ADMISSION, ADMISSIONS GENERAL INFORMATION BROCHURE, AND THE STUDENT HANDBOOK ALL CONTAIN THE COLLEGE'S NONDISCRIMINATORY POLICY. THESE MAJOR PUBLICATIONS ARE PROVIDED TO ALL STUDENTS THROUGHOUT THE ADMISSIONS AND ORIENTATION PROCESS. BECAUSE THE COLLEGE TYPICALLY DRAWS APPROXIMATELY 30% OF ITS STUDENTS FROM IA, 36% FROM MN, 13 PERCENT FROM WI, 7% FROM IL, 8% FROM OUTSIDE THE 4 STATE AREA, AND 6% INTERNATIONALLY, WE BELIEVE THAT WE QUALIFY FOR THE PUBLICITY EXCEPTION NOTICE PROVIDED BY SECTION 4.01(2)(B) OF REV. PROC 75-50. THE COLLEGE IS ACTIVELY COMMITTED TO PROVIDING OPPORTUNITIES TO STUDENTS FROM DIVERSE BACKGROUNDS. A COORDINATED MULTICULTURAL AND INTERNATIONAL RECRUITMENT EFFORT EXISTS, COUPLED WITH A STRONG NETWORK OF ADVOCACY AND SUPPORT FOR STUDENTS FROM DIVERSE BACKGROUNDS. AS EVIDENCE OF THE COLLEGE'S COMMITMENT, NEARLY 7.5% OF ITS STUDENTS ARE RACIAL MINORITY STUDENTS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 LUTHER COLLEGE RECEIVES AID OR ASSISTANCE FROM THE GOVERNMENT AGENCIES AND PROGRAMS AS FOLLOWS: STUDENT FINANCIAL ASSISTANCE PROGRAMS CLUSTER, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS, FEDERAL WORK STUDY PROGRAM, FEDERAL PERKINS LOAN PROGRAM, FEDERAL PELL GRANT PROGRAM, FEDERAL DIRECT LOAN PROGRAM, ROBERT C BYRD HONORS SCHOLARSHIPS, TEACHERS EDUCATION ASSISTANCE FOR COLLEGE & HIGHER EDUCATION GRANTS,IOWA TUITION GRANT, IOWA GRANT. SOUTH AMERICA 0 0 PROGRAM SERVICES LUTHER COLLEGE OFFERS NUMEROUS OPPORTUNITES FOR SHORT AND LONG-TERM STUDY OUTSIDE THE CONTINENTIAL UNITED STATES 159416 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES LUTHER COLLEGE OFFERS NUMEROUS OPPORTUNITES FOR SHORT AND LONG-TERM STUDY OUTSIDE THE CONTINENTIAL UNITED STATES 113739 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 PROGRAM SERVICES LUTHER COLLEGE OFFERS NUMEROUS OPPORTUNITES FOR SHORT AND LONG-TERM STUDY OUTSIDE THE CONTINENTIAL UNITED STATES 1407306 CENTAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES LUTHER COLLEGE OFFERS NUMEROUS OPPORTUNITES FOR SHORT AND LONG-TERM STUDY OUTSIDE THE CONTINENTIAL UNITED STATES 97725 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES LUTHER COLLEGE OFFERS NUMEROUS OPPORTUNITES FOR SHORT AND LONG-TERM STUDY OUTSIDE THE CONTINENTIAL UNITED STATES 72186 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 INVESTMENTS 509321 0 0 0 0 0 0 2359693 0 2359693 1 0 0 1 1 0 ALUMNI FUNDRAISING 40508 23011 17497 8431 1911 4341 GOLF OUTING 28380 22290 6090 1600 4918 1220 2424 3 42590 22748 19842 14241 1995 111478 68049 43429 24272 6829 1220 8760 41081 2348 1 STUDENT SCHOLARSHIPS 1693 42827141 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: STUDENTS RECEIVING SCHOLARSHIPS AND FELLOWSHIPS ARE DETERMINED BY THE OFFICE OF FINANCIAL AID THROUGH CAREFUL STUDY OF THE INFORMATION ON THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA), THE STUDENT'S ACADEMIC RECORD, TEST SCORES, AND RECOMMENDATIONS. DETAILED RECORDS AND STATISTICS ARE MAINTAINED BY THE OFFICE OF FINANCIAL AID AND THE OFFICE OF ASSESSMENT AND INSTITUTIONAL RESEARCH IN REGARDS TO ALL FINANCIAL AID AWARDED TO STUDENTS OF THE COLLEGE, INCLUDING GRANTS AND SCHOLARSHIPS. X X 1 1 X X 1 0 0 0 0 0 0 0 0 RICHARD TORGERSON 241531 0 0 0 22140 0 25000 0 37699 0 326370 0 0 0 DIANE TACKE 142644 0 0 0 6000 0 15588 0 19800 0 184032 0 0 0 KEITH CHRISTENSEN 141111 0 0 0 0 0 14730 0 23746 0 179587 0 0 0 SCOT SCHAEFFER 129941 0 0 0 0 0 13421 0 42546 0 185908 0 0 0 KEVIN KRAUS 129769 0 0 0 0 0 13532 0 45261 0 188562 0 0 0 DAVID MITCHELL 101918 0 0 0 0 0 5805 0 49177 0 156900 0 0 0 ANN HIGHUM 54824 0 0 0 8500 0 5488 0 6914 0 75726 0 0 0 ELWIN FARWELL 21838 0 0 0 0 0 0 0 0 0 21838 0 0 0 PART I, LINE 1A LUTHER COLLEGE PROVIDES A HOUSE, UTILITIES, AND COUNTRY CLUB DUES TO THE PRESIDENT OF THE COLLEGE, AND COUNTRY CLUB DUES TO THE VICE PRESIDENT FOR DEVELOPMENT. THESE BENEFITS ARE LISTED IN THE WRITTEN COMPENSATION POLICY FOR THE COLLEGE AND ARE ALSO IN THE WRITTEN EMPLOYMENT CONTRACT OF EACH OF THESE INDIVIDUALS. THE HOUSING FOR THE PRESIDENT, AND THE COUNTRY CLUB DUES FOR THE PRESIDENT AND VICE PRESIDENT FOR DEVELOPMENT ARE NOT TREATED AS TAXABLE COMPENSATION BECAUSE THE PRESIDENT'S HOUSE IS USED FOR COLLEGE BUSINESS AND MEETINGS, AND THE COUNTRY CLUB IS USED EXCLUSIVELY FOR BUSINESS PURPOSES TO BUILD RELATIONSHIPS WITH PROSPECTIVE DONORS TO THE COLLEGE. PART I, LINE 4A ELWIN FARWELL, FORMER PRESIDENT RECEIVED $21,838 IN DEFERRED COMPENSATION. ANN HIGHUM, FORMER VP AND DEAN FOR STUDENT LIFE, RECEIVED $75,726 IN DEFERRED COMPENSATION. A CITY OF DECORAH IA 426004485 2004-12-15 3600000 CENTENNIAL UNION RENOVATION 0 0 0 B CITY OF DECORAH IA 426004485 2010-12-21 7500000 MILLER & DIESETH RESIDENCE HALL RENOVATION 0 0 0 C IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 2011-12-01 24065000 SEE PART VI 0 0 0 A 2571428 3704417 13861 3690556 2006 0 0 1 1 B 7500000 16500 7483500 2012 0 0 1 1 C 590000 24065000 24065000 2012 1 0 1 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 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 1 1 1 U S BANK 10.000000000000 0 0 0 0 1 B 0 1 1 1 0 0 0 0 1 C 0 1 1 1 1 1 JP MORGAN CHASE 15.000000000000 0 0 0 0 1 A 1 B 1 C 1 SCHEDULE K, PART I, COLUMN F FOR BOND C DESCRIPTION OF PURPOSE CURRENTLY REFUND SERIES 2002 BONDS ISSUED 9/12/02 AND SERIES 2008 BONDS ISSUED 12/10/08 SCHEDULE K, PART IV, LINE 2C REBATE CALCULATIONS WERE PERFORMED ON JANUARY 24, 2011 FOR THE SERIES 2004 BOND. REBATE CALCULATIONS ARE NOT YET DUE TO BE PERFORMED FOR THE SERIES 2010 AND SERIES 2011 BONDS. FIRST CITIZENS NATIONAL BANK MARTI RODAMAKER, BOARD MEMBER, IS PRESIDENT OF FIRST CITIZENS NATIONAL BANK 263951 INTEREST PAID ON OUTSTANDING LOAN 0 FIRST CITIZENS NATIONAL BANK MARTI RODAMAKER, BOARD MEMBER, IS PRESIDENT OF FIRST CITIZENS NATIONAL BANK 7500000 LOAN 0 X 4 13975 FMV X 1044 FMV X 450 FMV X 60 776107 AVERAGE HIGH/LOW X 1 837690 APPRAISAL X 3 6364 FMV X BOARD MEETING EXPENSES 2 1693 COST X COMPUTER EQUIPMENT 1 19604 FMV X DINING EQUIPMENT 1 18669 FMV X CAMPING EQUIPMENT 1 650 FMV X ITEMS FOR AZ GOLF EVENT 6 411 FMV X NORDIC CHOIR RECEPTION 2 6711 FMV X REPAIR TENNIS COURT 1 2296 FMV X ITEMS FOR DECORAH GOLF EVENT 1 32 FMV X ITEMS FOR NORTHFIELD GOLF EVENT 1 175 FMV 3 0 1 0 METHOD FOR DETERMINING NUMBER OF CONTRIBUTIONS: PART I, COLUMN (B): NUMBER OF CONTRIBUTORS FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THIS CORPORATION SHALL BE THOSE INDIVIDUALS HOLDING THE FOLLOWING POSITIONS AND OFFICES: (A) THE VOTING MEMBERS OF THE CHURCHWIDE ASSEMBLY OF THE EVANGELICAL LUTHERAN CHURCH IN AMERICA ENTITLED TO VOTE AT SUCH MEETINGS CHOSEN IN ACCORDANCE WITH THE DISCIPLINE AND USAGE OF SUCH CHURCH, OR ITS SUCCESSOR. SUCH MEMBERS SHALL REMAIN MEMBERS OF THE CORPORATION UNTIL THE CONVENING OF THE SUCCEEDING CHURCHWIDE ASSEMBLY OF THE EVANGELICAL LUTHERAN CHURCH IN AMERICA AT WHICH TIME SUCH MEMBERS SHALL GIVE PLACE TO THE VOTING MEMBERS AT SUCH SUCCEEDING CHURCHWIDE ASSEMBLY, IN ACCORDANCE WITH THE DISCIPLINE AND USAGE OF SAID CHURCH, OR ITS SUCCESSOR. (B) THE MEMBERS OF THE BOARD OF REGENTS OF THIS CORPORATION. (C) THE PRESIDENT OF THE COLLEGE OPERATED BY THIS CORPORATION. (D) THE OFFICERS OF THE ADMINISTRATION OF THE COLLEGE. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BODY OF LUTHER COLLEGE IS THE BOARD OF REGENTS. THE BOARD OF REGENTS ARE LISTED AS MEMBERS OF THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7B THE GOVERNING BODY OF LUTHER COLLEGE IS THE BOARD OF REGENTS. THE BOARD OF REGENTS ARE LISTED AS MEMBERS OF THE ORGANIZATION. DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY THE BOARD OF REGENTS. FORM 990, PART VI, SECTION B, LINE 11 THE 990 IS PREPARED BY THE ACCOUNTING MANAGER, REVIEWED BY THE CONTROLLER, AND IS REVIEWED BY THE VP FOR FINANCE AND ADMINISTRATION. THE 990 IS THEN SENT TO THE FIRM OF MCGLADREY LLP FOR REVIEW AND ENTRY INTO THEIR TAX SOFTWARE. AFTER ALL REVIEWS ARE COMPLETED, THE 990 IS PRESENTED TO THE AUDIT COMMITTEE FOR THEIR REVIEW AND APPROVAL. AFTER AUDIT COMMITTEE APPROVAL, THE 990 IS SENT TO EACH BOARD MEMBER, AND THE COMPLETED FORM 990 IS SIGNED BY THE VP FOR FINANCE AND ADMINSTRATION, AND A PARTNER FROM MCGLADREY LLP, AND IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C LUTHER COLLEGE'S CONFLICT OF INTEREST POLICY AND DISCLOSURE STATEMENT IS SENT OUT TO THE BOARD OF REGENTS,AUDIT COMMITTEE, INVESTMENT COMMITTEE, PRESIDENT, VICE PRESIDENTS, AND KEY EMPLOYEES OF THE COLLEGE IN MAY OF EACH YEAR. EACH RECIPIENT IS REQURIED TO READ THE POLICY AND TO COMPLETE, SIGN, AND RETURN THE DISCLOSURE STATEMENT TO THE OFFICE FOR FINANCIAL SERVICES TO BE REVIEWED FOR POTENTIAL INTERESTS THAT COULD GIVE RISE TO CONFLICTS. LUTHER COLLEGE'S CONFLICT OF INTEREST POLICY AND DISCLOSURE STATEMENT ADDRESSES ALL AREAS OF CONCERN EXPRESSED ON FORM 990. FORM 990, PART VI, SECTION B, LINE 15 THE DIRECTOR OF HUMAN RESOURCES AND THE PRESIDENT OF THE COLLEGE WILL GATHER THE FOLLOWING BENCHMARK SALARY DATA: 1. MEDIAN SALARIES FOR CUPA PRIVATE RELIGIOUS COLLEGES WITH COMPARABLE ENROLLMENT. 2. MEDIAN AND MAXIMUM SALARIES FOR 26 PRIVATE IOWA COLLEGES. 3. MEDIAN AND MAXIMUM SALARIES FOR ACM AND GLCA COLLEGES. 4. MEDIAN AND MAXIMUM SALARIES FOR 5 COMPARABLE IAICU COLLEGES. THE PRESIDENT OF THE COLLEGE WILL REVIEW AND PRESENT THE PRESIDENTIAL AND VICE PRESIDENTIAL BENCHMARK SALARY INFORMATION TO THE BOARD OF REGENTS. AT THE MAY BOARD MEETING, THE BOARD OF REGENTS WILL MEET TO REVIEW THE FOUR SALARY BENCHMARK INDICATORS AND WILL DETERMINE AND APPROVE COMPENSATION FOR THE PRESIDENT AND VICE PRESIDENTS OF THE COLLEGE. THE BOARD OF REGENTS WILL ALSO REVIEW THE NON-SALARY COMPENSATION BENEFITS PROVIDED TO THE OFFICERS. THE CHAIRPERSON OF THE BOARD OF REGENTS WILL NOTIFY THE DIRECTOR OF HUMAN RESOURCES IN WRITING, THROUGH A MEMO OR E-MAIL WITH THE APPROVAL OF COMPENSATION FOR THE PRESIDENT AND VICE PRESIDENTS. THIS INFORMATION WILL BE RECORDED IN THE MINUTES OF THE MEETING AND WILL BE MAINTAINED IN A CONFIDENTIAL ARCHIVE. THIS PROCESS WAS LAST COMPLETED IN MAY, 2013. FORM 990, PART VI, SECTION C, LINE 19 COPIES OF LUTHER COLLEGE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AUDITED FINANCIAL STATEMENTS, AND FORMS 990 & 990T ARE AVAILABLE TO THE PUBLIC UPON REQUEST AT THE OFFICE FOR FINANCIAL SERVICES, 700 COLLEGE DRIVE, DECORAH, IA 52101. THE AUDITED FINANCIAL STATEMENTS ARE ALSO AVAILABLE ONLINE AT WWW.LUTHER.EDU/FINANCIALSERVICES. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: ACTUARIAL ADJUSTMENTS 1,226,301. INTEREST RATE SWAP 918,280. BOOK/TAX DIFFERENCE FROM K-1S 13,444. REVENUE FROM SUBSIDIARY 258,108. EXPENSE FROM SUBSIDIARY -370,841. ROUNDING -2. LUTHER COLLEGE WIND ENERGY PROJECT LLC 700 COLLEGE DRIVE DECORAH IA 52101 352366881 PRODUCTION OF ELECTRICITY IA 258108 3410363 LUTHER COLLEGE VENTURES INC LUTHER COLLEGE VENTURES INC 700 COLLEGE DRIVE DECORAH IA 52101 273945752 HOLDING COMPANY IA N/A C 258108 3410363 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 LUTHER COLLEGE VENTURES INC N 84833 COST