2013-02-13T12:49:06-06:00 2012-06-30 420714325 MCGLADREY LLP 221 THIRD AVENUE SE STE 300 CEDAR RAPIDS IA 524011512 990 2011-07-01 426081293 PALMER COLLEGE FOUNDATION PALM 5638845871 1000 BRADY STREET DAVENPORT IA 52803 THOMAS TIEMEIER 5638845871 2013-02-12 1 KAY HEGARTY P00091057 3192985333 2011 2016-03-07 17:11:31Z PALMER COLLEGE OF CHIROPRACTIC DENNIS MARCHIORI DC 1000 BRADY STREET DAVENPORT IA 52803 68769457 0 X WWW.PALMER.EDU X 1907 IA THE MISSION OF THE COLLEGES OF THE PALMER COLLEGE SYSTEM IS TO EDUCATE AND PREPARE STUDENTS TO BECOME DOCTORS OF CHIROPRACTIC QUALIFIED TO SERVE AS PRIMARY CONTACT HEALTH CARE PROVIDERS; TO ADVANCE THE UNDERSTANDING OF CHIROPRACTIC THROUGH RESEARCH; AND TO SERVE HUMANITY THROUGH PATIENT CARE AND COMMUNITY EDUCATION. 15 14 1163 382 37819 -17543 5101272 4698432 56877933 56316669 1213341 1266936 1870400 1600834 65062946 63882871 1883142 1800157 0 0 35134776 36066118 0 103580 167139 23864702 22132540 60882620 60102395 4180326 3780476 132943216 137910435 43423388 44658803 89519828 93251632 X THE MISSION OF PALMER COLLEGE OF CHIROPRACTIC, BASED UPON THE PALMER TENETS, IS TO EDUCATE AND PREPARE STUDENTS TO BECOME DOCTORS OF CHIROPRACTIC QUALIFIED TO SERVE AS DIRECT ACCESS TO PRIMARY HEALTH CARE PROVIDERS AND CLINICIANS, COMPETENT IN WELLNESS PROMOTION, HEALTH ASSESSMENT, DIAGNOSIS AND THE CHIROPRACTIC MANAGEMENT OF THE PATIENT'S HEALTH CARE NEEDS. PALMER IS COMMITTED TO ADVANCING THE UNDERSTANDING OF CHIROPRACTIC THROUGH RESEARCH; TO PROVIDING SERVICE TO THE FIELD OF CHIROPRACTIC, INCLUDING CONTINUING EDUCATION; AND TO SERVING HUMANITY THROUGH PATIENT CARE AND COMMUNITY EDUCATION. 0 0 39866224 1800157 55205288 TEACHING THE ART OF CHIROPRACTIC AND OTHER ACTIVITIES RELATED TO EDUCATION. ENROLLMENT CONSISTS OF 1,794 FULL TIME AND 19 PART TIME STUDENTS. 2437567 1111381 AUXILIARY ENTERPRISES AND ACTIVITIES RELATED TO OPERATION OF BOOKSTORE, CAFETERIA, PRINT SHOP, AND CONTINUING EDUCATION PROGRAMS. 42303791 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 0 1 1 0 1 0 0 1 0 0 0 1 1 1 0 0 0 1 0 0 0 1 1 1 0 0 0 1 1 1 0 0 1 172 0 1 1163 1 1 1 0 0 0 0 1 1 0 0 0 0 X 15 14 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AZ CA MD NH OR X ALEXIS VANDER HORN 5638845102 1000 BRADY STREET DAVENPORT IA 52803 VICKIE A PALMER 2.00 X X 0 0 0 TREVOR V IRELAND DC 20.00 X X 0 0 0 KENT M FORNEY 10.00 X X 0 0 0 WILLIAM L WILKE 2.00 X 0 0 0 KENNETH R KOUPAL 2.00 X 0 0 0 KENT M PILCHER 2.00 X 0 0 0 ERVIN M MALCHEFF DC 2.00 X 0 0 0 BARRY MCALPINE DC 2.00 X 0 0 0 MICHAEL J HAHN DC 2.00 X 0 0 0 CHARLES J KELLER DC 2.00 X 0 0 0 PAUL S PETERSON DC 2.00 X 0 0 0 SUSAN HATFIELD PHD 2.00 X 0 0 0 WILLIAM E MORGAN DC 2.00 X 0 0 0 JOHN C HUSTON 2.00 X 0 0 0 PAUL VANDUYNE PE DC 2.00 X 0 0 0 THOMAS TIEMEIER 40.00 X 181981 0 30650 LYNNE LINDSTROM 40.00 X 60810 0 5960 DENNIS MARCHIORI DC 40.00 X 360429 0 41461 WILLIAM MEEKER DC 40.00 X 217252 0 41578 ROBERT LEE 40.00 X 185029 0 30606 PETER MARTIN DC 40.00 X 214278 0 32657 KEVIN CUNNINGHAM DC 40.00 X 161133 0 31188 CHRISTINE GOERTZ 40.00 X 229471 0 42442 DAN WEINERT DC 40.00 X 163108 0 35171 ROBERT PERCUOCO DC 40.00 X 175545 0 33393 JAMES NOVAK 40.00 X 148309 0 33357 JOEL PICKAR DC 40.00 X 140091 0 36073 KURT WOOD DC 40.00 X 144458 0 32533 IAN MCLEAN DC 40.00 X 154513 0 29148 JAMES OWENS DC 40.00 X 150116 0 21130 DONALD KERN DC 0.00 X 149012 0 0 2835535 0 477347 36 1 1 0 PERRY-MCCALL CONSTRUCTION 6262 GREENLAND RD JACKSONVILLE FL 32258 CONSTRUCTION 1419600 ARAMARK 1000 BRADY STREET DAVENPORT IA 52803 FACILITY SERVICES 1412662 PER MAR SECURITY SERVICES PO BOX 1101 DAVENPORT IA 52805 SECURITY SERVICES 951732 XEROX CORPORATION 3400 HILLVIEW AVENUE BLDG 1 PALTO ALTO CA 94304 COPY SERVICES 717468 ESTES COMPANY PO BOX 3608 DAVENPORT IA 52808 CONSTRUCTION 510665 24 76257 3437105 1185070 37555 4698432 TUITION AND FEES 611600 54043593 54043593 CLINIC REVENUE 611710 1161695 1161695 AUXILIARY ENTERPRISES 611600 1111381 1111381 56316669 1282608 1282608 422430 0 422430 422430 422430 3551863 3205 3564380 6360 -12517 -3155 -15672 -15672 1516922 1315846 201076 201076 RESEARCH EXP RECOVERY 900099 544627 544627 INT ON LOANS RECEIVABL 900099 201690 201690 CAMPUS BASE ADMIN INC 900099 94453 94453 136558 37819 98739 977328 63882871 56316669 37819 2829951 42525 42525 1757632 1757632 2205394 601614 1603780 26162074 20615888 5530093 16093 7698650 5955054 1742404 1192 607259 607259 101235 101235 103580 103580 159523 159523 451358 292406 158952 952808 385896 561584 5328 4105819 2746584 1359235 320050 223169 92161 4720 760566 350077 392909 17580 3290140 3290140 783703 19169 764534 OUTSIDE SERVICES 3341275 1918042 1423233 SUPPLIES 1702170 1171570 522389 8211 EQUIPMENT RENTAL & MAIN 1317874 431856 886018 CAMPUS SECURITY 1093405 165 1093240 3145355 2502004 632916 10435 60102395 42303791 17631465 167139 27116 161112 8707675 11827007 326898 370599 8513322 9593212 462 1021 1881357 1875500 639676 648713 108803777 43583387 62736875 65220390 41581701 38388773 3104748 3062877 5120806 6458651 302580 302580 132943216 137910435 7361325 9630449 6459777 7629583 491603 354391 28264577 26180000 846106 864380 43423388 44658803 X 62445058 65031191 14310629 14957838 12764141 13262603 89519828 93251632 132943216 137910435 X 3780476 -48672 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6595 302580 X X 0 31285769 539752 1152992 535262 434530 32008721 26067092 300493 5706566 429463 358919 31285769 23193049 152371 3411164 296393 393099 26067092 29489024 207520 -5566083 937412 23193049 0.21000 0.79000 0 0 14500 296000 310500 86197443 30971830 55225613 1130008 219278 910730 11267380 8060888 3206492 9898446 4331391 5567055 65220390 ANNUITIES PAYABLE 411000 CONDITIONAL ASSET RETIREMENT OBLIGATION 453380 864380 63882871 60102395 3780476 -11378 -6712 -30582 -48672 3731804 63308082 1310128 1310128 61997954 159523 1725394 1884917 63882871 60098483 1874410 1874410 58224073 159523 1718799 1878322 60102395 PART III, LINE 4: THE ART IS A COLLECTION OF ORIENTAL ART, SCULPTURES AND ARTIFACTS ACQUIRED BY THE PALMER FAMILY IN ITS TRAVELS IN THE EARLY 20TH CENTURY. THE COLLECTION WAS LATER DONATED TO THE COLLEGE BY THE FAMILY. THE CHIROPRACTIC PROFESSION WAS FOUNDED BY D.D. PALMER AND DEVELOPED BY FUTURE GENERATIONS OF PALMERS. IN THOSE EARLY YEARS THE DEVELOPMENT OF THE PROFESSION WAS CLOSELY LINKED TO THE FAMILY HISTORY. TO OUR STUDENTS WHO STUDY THE PHILOSOPHY, SCIENCE AND ART OF CHIROPRACTIC, THIS COLLECTION IS TANGIBLE EVIDENCE OF THE HISTORY OF THE CHIROPRACTIC PROFESSION. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ENDOWMENT FUNDS ARE USED FOR STUDENT SCHOLARSHIPS, EDUCATIONAL ACTIVITIES SUPPORT, GENERAL INSTITUTIONAL SUPPORT AND PLANT. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE FOUNDATION AND THE COLLEGE ARE RECOGNIZED AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FOUNDATION AND COLLEGE MAY BE SUBJECT TO FEDERAL AND STATE INCOME TAXES ON ANY NET INCOME FROM UNRELATED BUSINESS ACTIVITIES. THE FOUNDATION AND COLLEGE FILE 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 EACH ENTITY AND VARIOUS POSITIONS RELATIVE TO POTENTIAL SOURCES OF UBI. AS OF JUNE 30, 2012 AND 2011, THERE WERE NO UNCERTAIN TAX BENEFITS IDENTIFIED AND RECORDED AS A LIABILITY. FORMS 990 AND 990-T FILED BY THE FOUNDATION AND COLLEGE ARE NO LONGER SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR THE FISCAL YEARS ENDED JUNE 30, 2008 AND PRIOR. PART XI, LINE 8 - OTHER ADJUSTMENTS: LOSS ON INTEREST RATE SWAP: -552,904. TRANSFER OF COLLEGE PERKINS LOAN PROGRAMS: 528,917. DONATED HISTORICAL TREASURES RECORDED ON TAX RETURN NOT ON FINANCIALS: -6,595. TOTAL TO SCHEDULE D, PART XI, LINE 8: -30,582. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD NETTED WITH REVENUES 1,315,846. EXPENSES RECLASSIFIED AS REVENUE 5,660. NET UNREALIZED LOSSES ON INVESTMENTS -11,378. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL GRANTS 1,718,799. DONATED HISTORICAL TREASURES INCLUDED ON TAX RETURN NOT ON FINANCIALS 6,595. PART XIII, LINE 2D - OTHER ADJUSTMENTS: COGS EXPENSES NETTED WITH REVENUES 1,315,846. LOSS ON INTEREST RATE SWAP 552,904. EXPENSES RECLASSIFIED AS REVENUE 5,660. PART XIII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL GRANTS 1,718,799. REVENUE RECLASSIFIED FROM EXPENSE 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 PALMER COLLEGE OF CHIROPRACTIC PUBLISHES ITS EQUAL OPPORTUNITY STATEMENT IN PRINTED MATERIALS THROUGHOUT THE STUDENT RECRUITMENT AND ORIENTATION PERIOD. PALMER COLLEGE OF CHIROPRACTIC DOES NOT ROUTINELY USE NEWSPAPER OR BROADCAST MEDIA IN ITS STUDENT RECRUITMENT EFFORTS. HOWEVER, THE COLLEGE DOES PUBLICIZE ITS RACIALLY NONDISCRIMINATORY POLICY IN A WAY THAT MAKES THE POLICY KNOWN TO PROSPECTIVE STUDENTS BY PUBLISHING THE COLLEGE'S EQUAL OPPORTUNITY STATEMENT IN PRINTED MATERIALS PROVIDED THROUGHOUT THE STUDENT RECRUITMENT PERIOD. IN ADDITION, THE FOUNDATION'S EQUAL OPPORTUNITY STATEMENT IS PROVIDED TO CURRENT STUDENTS AND THE GREATER COLLEGE COMMUNITY IN THE COLLEGE CATALOG, WHICH IS AVAILABLE IN PRINT AND ON THE PALMER WEBSITE, AS WELL AS IN THE STUDENT HANDBOOK, WHICH IS DISTRIBUTED TO ALL STUDENTS DURING THE STUDENT ORIENTATION PROGRAM. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 FINANCIAL AID OR ASSISTANCE IS RECEIVED FROM THE FOLLOWING GOVERNMENTAL AGENCIES: PELL GRANT PROGRAM SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS (SEOG) FEDERAL WORK STUDY PROGRAMS (FWS) PERKINS LOAN PROGRAM DEPARTMENT OF HEALTH AND HUMAN SERVICES (HHS) NATIONAL INSTITUTE OF HEALTH (NIH) HEALTH RESOURCES AND SERVICES ADMINISTRATION (HRSA) DEPARTMENT OF DEFENSE CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES - CLINIC ABROADPROGRAM SERVICES - CLINIC ABROAD STUDENTS TRAVEL TO HONDURAS AND THE GRENADINES TO PROVIDE CHIROPRACTIC CARE. 253505 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES - CLINIC ABROAD STUDENTS TRAVEL TO FIJI AND VIETNAM TO PROVIDE CHIROPRACTIC CARE. 518650 SOUTH ASIA 0 0 PROGRAM SERVICES - CLINIC ABROAD STUDENTS TRAVEL TO INDIA TO PROVIDE CHIROPRACTIC CARE. 518439 SOUTH AMERICA 0 0 PROGRAM SERVICES - CLINIC ABROAD STUDENTS TRAVEL TO BRAZIL TO PROVIDE CHIROPRACTIC CARE. 451788 0 0 0 0 0 0 1742382 0 1742382 1 0 1 0 0 0 METHOD USED TO ACCCOUNT FOR EXPENDITURES: SCHEDULE F, PART I, LINE 3: EXPENDITURES ARE ACCOUNTED FOR UNDER THE ACRRUAL METHOD. THE REPORTED EXPENDITURES INCLUDE ALL STUDENT COSTS ASSOCIATED WITH THE CLINIC ABROAD PROGRAM SUCH AS AIRFARE, GROUND TRANSPORTATION, ACCOMODATIONS, MEALS, TRAVEL/HEALTH INSURANCE, AND OTHER ADDITIONAL COSTS. THE ORGANIZATION INVOICES STUDENTS FOR ALL REPORTED EXPENDITURES. THE ORGANIZATION'S GENERAL ADMINISTRATIVE AND OPERATIONAL COSTS RELATED TO THE CLINIC ABROAD PROGRAM ARE NOT TRACKED BY REGION AND ARE NOT INCLUDED IN THE REPORTED EXPENDITURES. CLINIC ABROAD PROGRAM: STUDENTS TRAVEL TO VARIOUS INTERNATIONAL LOCATIONS TO PROVIDE CHIROPRACTIC CARE TO POPULATIONS GENERALLY UNDERSERVED IN TERMS OF HEALTHCARE OPTIONS. STUDENTS ALSO LEARN ABOUT THE CULTURE AND CONDUCT FUNDRAISING ACTIVITIES TO PROVIDE MONEY AND GOODS TO LOCAL SCHOOLS, ORPHANAGES AND OTHER GROUPS IN NEED OF ASSISTANCE. X X X X X X X 1 BRAREN MULDER GERMAN ASSOCIATES 326 W 3RD STREET 800 DAVENPORT IA 528011220 FUNDRAISING CONSULTING 0 0 103580 -103580 103580 -103580 AK AZ MD NH OR WA AL AR CA CT DE DC FL GA HI ID IL IN IA KS KY ME MN MS MO MT NE NV NJ NM NC ND OH OK PA RI SD TN TX UT VA VT WV WI WY 1 FOUNDATION FOR CHIROPRACTIC PROGRESS PO BOX 560 CARMICHAEL CA 95609 202137895 501(C)(6) 20200 N/A N/A GENERAL FUND - TO SUPPORT MISSION OF EDUCATING THE PUBLIC ON CHRIOPRACTIC HEALTHCARE QUAD CITIES RUNNING CLUB INC 2617 4TH STREET EAST MOLINE IL 61244 460467219 501(C)(3) 15000 N/A N/A SPONSORSHIP - MARATHON QUAD CITY TIMES BIX 7 2685 KIMBERLY RD BETTENDORF IA 52722 930708918 7325 N/A N/A SPONSORSHIP - BIX RACE & EXPO 1 2 EDUCATIONAL GRANTS 137 123914 N/A N/A SCHOLARSHIPS 787 1494348 N/A N/A BENEFITS (GRANTS) 17 139370 N/A N/A PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE FOUNDATION MONITORS ELIGIBILITY FOR THESE AWARDS BY ASSESSING STUDENT RECORDS, FINANCIAL NEED AND ACADEMIC PERFORMANCE. THE SCHOLARSHIP COMMITTEE REVIEWS APPLICATIONS FOR AWARDS. X X 1 1 X X X X X 1 0 0 0 0 0 0 0 0 THOMAS TIEMEIER 180691 0 0 0 1290 0 14479 0 16171 0 212631 0 0 0 DENNIS MARCHIORI DC 359979 0 0 0 450 0 19600 0 21861 0 401890 0 0 0 WILLIAM MEEKER DC 215617 0 0 0 1635 0 16417 0 25161 0 258830 0 0 0 ROBERT LEE 182134 0 0 0 2895 0 14564 0 16042 0 215635 0 0 0 PETER MARTIN DC 209645 0 0 0 4633 0 16871 0 15786 0 246935 0 0 0 KEVIN CUNNINGHAM DC 160193 0 0 0 940 0 10727 0 20461 0 192321 0 0 0 CHRISTINE GOERTZ 227821 0 0 0 1650 0 17756 0 24686 0 271913 0 0 0 DAN WEINERT DC 162203 0 0 0 905 0 13448 0 21723 0 198279 0 0 0 ROBERT PERCUOCO DC 173955 0 0 0 1590 0 14207 0 19186 0 208938 0 0 0 JAMES NOVAK 148014 0 0 0 295 0 11671 0 21686 0 181666 0 0 0 JOEL PICKAR DC 125921 0 12727 0 1443 0 11800 0 24273 0 176164 0 0 0 KURT WOOD DC 142731 0 0 0 1727 0 12075 0 20458 0 176991 0 0 0 IAN MCLEAN DC 114234 0 39438 0 841 0 9450 0 19698 0 183661 0 0 0 JAMES OWENS DC 148963 0 0 0 1153 0 8149 0 12981 0 171246 0 0 0 DONALD KERN DC 149012 0 0 0 0 0 0 0 0 0 149012 0 0 0 PART I, LINE 1A FIRST CLASS OR CHARTER TRAVEL - THERE IS A TRAVEL POLICY. FIRST CLASS TRAVEL IS NOT ADDRESSED AS IT IS NORMALLY NOT PERMITTED UNDER THAT POLICY. HOWEVER, THE CURRENT CHAIRMAN OF THE BOARD OF TRUSTEES IS A RESIDENT OF ANCHORAGE, ALASKA. THE RESPONSIBILITIES OF THIS POSITION REQUIRE MORE TRAVEL THAN REGULAR BOARD MEMBERS. FLIGHT SCHEDULES AND THE TIME ZONE DIFFERENCES ATTENDING REQUIRED MEETINGS OFTEN LEAVE LITTLE TIME FOR RECOVERY FROM THE FLIGHT AND MEETING PREPARATION. THEREFORE, AS APPROVED BY THE FULL BOARD OF TRUSTEES, THE CHAIRMAN AND ONLY THE CHAIRMAN IS ALLOWED TO FLY FIRST CLASS. CHARTER TRAVEL IS ALSO NOT ADDRESSED IN THE POLICY AS AIRLINE TRAVEL IS REIMBURSED AT THE LOWEST (COACH) FARE FOR A TRIP. HOWEVER, IF MULTIPLE INDIVIDUALS ARE TRAVELING TO THE SAME LOCATION FOR THE SAME MEETING AND CHARTER TRAVEL IS LESS EXPENSIVE THAN INDIVIDUAL AIRFARES THEN CHARTER TRAVEL IS ALLOWED. IN NORMAL YEARS, CHARTER TRAVEL IS ONLY ALLOWED ONCE OR TWICE A YEAR. TRAVELS FOR COMPANIONS - FOR ONE BOARD MEETING A YEAR, SPOUSES OF BOARD MEMBERS ARE INVITED TO ATTEND A BOARD MEETING. IF A SPOUSE ATTENDS, THE COLLEGE DOES REIMBURSE THE BOARD MEMBER FOR THE SPOUSE'S TRAVEL. HOWEVER, EACH BOARD MEMBER IS PROVIDED AN IRS FORM 1099 FOR THE COST OF THAT TRAVEL. ON A LESS FREQUENT BASIS, SPOUSES OF EXECUTIVES ARE INVITED TO BOARD MEETINGS. THE COST OF THAT TRAVEL IS ADDED TO AN EMPLOYEE'S IRS FORM W-2. PART I, LINE 1B SEE EXPLANATION FOR PART 1A PART I, LINE 4A DON KERN RECEIVED EARLY RETIRMENT BENEFITS OF $140,264 AND JAMES OWENS RECEIVED A SEVERANCE PAYMENT OF $49,316. ROBERT LEE X 1250 1021 0 0 1 1021 KENT PILCHER BOARD MEMBER OF PALMER COLLEGE FOUNDATION AND PER MAR SECURITY 917624 PER MAR SECURITY PROVIDED SERVICES TO PALMER COLLEGE FOUNDATION 0 KENT PILCHER BOARD MEMBER OF PALMER COLLEGE FOUNDATION AND OFFICER OF ESTES COMPANY 417630 ESTES COMPANY PROVIDED SERVICES TO PALMER COLLEGE FOUNDATION 0 X 5 6595 DONOR EVALUATION X 9873 DONOR EVALUATION X CHIROPRACTIC EQUIPMENT 20 13698 FAIR MARKET VALUE X MISCELLANOEUS 26 7389 FAIR MARKET VALUE 0 0 0 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS RECEIVED FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS ONE CLASS OF MEMBERS, DENOMINATED AS "CERTIFICATE HOLDERS." THE CERTIFICATE HOLDERS MEET AT LEAST ANNUALLY. SEE ADDITIONAL EXPLANATION OF RIGHTS AND DUTIES IN RESPONSE TO FORM 990, PART VI, LINES 7A AND 7B. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS, DENOMINATED AS "CERTIFICATE HOLDERS," APPOINT EACH AND EVERY "TRUSTEE" ON THE BOARD OF TRUSTEES, THE ORGANIZATION'S GOVERNING BODY, PURSUANT TO THE FOLLOWING PROCESS. (1) EACH MEMBER OF THE BOARD OF TRUSTEES AND EACH CERTIFICATE HOLDER ARE ENTITLED TO NOMINATE AS MANY NOMINEE TRUSTEES AS THERE ARE VACANCIES ON THE BOARD OF TRUSTEES. CURRENT TRUSTEES AND CERTIFICATE HOLDERS ARE REQUIRED TO SUBMIT NOMINATIONS IN WRITING TO THE TRUSTEE DEVELOPMENT AND GOVERNANCE COMMITTEE OF THE BOARD OF TRUSTEES. (2) ALL PERSONS WHOSE NAMES HAVE BEEN PROVIDED AS NOMINEES IS EVALUATED BY THE TRUSTEE DEVELOPMENT AND GOVERNANCE COMMITTEE. (3) THE TRUSTEE DEVELOPMENT AND GOVERNANCE COMMITTEE SUBMITS THE NAMES AND EVALUATIONS OF ALL NOMINEES TO THE CERTIFICATE HOLDERS. (4) TRUSTEES ARE CHOSEN BY BALLOT BY THE AFFIRMATIVE VOTE OF A MAJORITY OF THE CERTIFICATES OUTSTANDING. EACH CERTIFICATE HOLDER IS ENTITLED TO ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7B THOSE PROVISIONS OF THE ARTICLES OF INCORPORATION AND/OR THE BYLAWS OF THE CORPORATION THAT AFFECT THE RIGHTS, POWERS AND/OR DUTIES OF THE CERTIFICATE HOLDERS, INCLUSIVE OF THE RIGHT TO ELECT CERTIFICATE HOLDERS AND TRUSTEES AND/OR DISSOLVE THE CORPORATION OR SELL ALL OF ITS ASSETS OR EFFECT A MERGER OR CONSOLIDATION, MUST BE APPROVED BY A MAJORITY VOTE OF ALL THE CERTIFICATE HOLDERS. FORM 990, PART VI, SECTION B, LINE 11 AFTER COMPLETION OF THE DRAFT OF THE FORM 990 BY AN EXTERNAL ACCOUNTING FIRM, THE FORM 990 DRAFT IS SHARED WITH THE VICE CHANCELLOR FOR ADMINISTRATION AND HIS STAFF FOR THEIR REVIEW AND CORRECTION OF ANY ERRORS. ONCE THOSE CORRECTIONS HAVE BEEN MADE, THE FORM 990 DRAFT IS SHARED WITH THE AUDIT COMMITTEE OF THE FOUNDATION'S BOARD OF TRUSTEES. THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES HAS BEEN DESIGNATED AS THE COMMITTEE TO REVIEW THE FORM 990 BEFORE IT IS FILED. THE AUDIT COMMITTEE AND VICE CHANCELLOR FOR ADMINSTRATION (TREASURER) WILL MEET TO REVIEW THE DRAFT FORM 990 WITH REPRESENTATIVES OF THE ACCOUNTING FIRM WHO COMPLETED THE DRAFT FORM 990, IF CONSIDERED NECESSARY. ONCE THE DRAFT HAS BEEN REVIEWED AND ANY CORRECTIONS MADE, COPIES OF THE FORM 990 WILL BE PROVIDED TO THE FULL BOARD OF TRUSTEES. ONCE BOARD RECEIPT HAS BEEN DETERMINED, THE TREASURER WILL SIGN AND FILE THE 990 WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C PALMER COLLEGE REQUIRES OFFICERS, DIRECTORS AND KEY EMPLOYEES TO COMPLETE AN ANNUAL FORM TO COMPLY WITH ITS CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD CONSIDERS SEVERAL SOURCES IN DETERMINING COMPENSATION FOR SENIOR ADMINISTRATORS SUCH AS THE ACC SURVEYS, CHRONICLE OF HIGHER EDUCATION SURVEYS, GUIDANCE FROM PROFESSIONAL COMPENSATION CONSULTANTS AND ALSO WITH SURVEYS CONDUCTED BY OUR HUMAN RESOURCES DEPARTMENT. THE BOARD OF TRUSTEES' EXECUTIVE COMMITTEE WHO, PERIODICALLY, DURING THE YEAR, MEETS TO REVIEW THE CHANCELLOR'S PERFORMANCE AND SETS THE CHANCELLOR'S COMPENSATION. ANNUALLY, THE CHANCELLOR MEETS WITH THE EXECUTIVE COMMITTEE OF THE BOARD TO REVIEW SALARIES OF THE SENIOR ADMINISTRATORS. THE CHANCELLOR SETS SENIOR ADMINISTRATORS' SALARIES WITH OVERSIGHT FROM THE BOARD OF TRUSTEES. DECISIONS ARE CONTEMPORANEOUSLY DOCUMENTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 PALMER COLLEGE DOES NOT MAKE ITS POLICIES, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -11,378. PRIOR PERIOD ADJUSTMENTS: -6,712. LOSS ON INTEREST RATE SWAP: -552,904. TRANSFER OF COLLEGE PERKINS LOAN PROGRAMS: 528,917. DONATED HISTORICAL TREASURES RECORDED ON TAX RETURN NOT ON FINANCIALS: -6,595. TOTAL TO FORM 990, PART XI, LINE 5: -48,672. AUDITED FINANCIAL STATEMENTS FORM 990, PART IV, LINE 12 AND PART XI, LINES 2B AND 2C THE ORGANIZATION IS INCLUDED IN A CONSOLIDATED ENTITY AUDIT AND RECEIVES CONSOLIDATED GAAP FINANACIAL STATEMENTS ON AN ANNUAL BASIS FROM INDEPENDENT AUDITORS. THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. PALMER COLLEGE OF CHIROPRACTIC WEST 90 E TASMAN SAN JOSE CA 95134 942515428 EDUCATION CA 501(C)(3) LINE 2 PALMER COLLEGE FOUNDATION 1 PERRY HILL PROPERTIES ASSOCIATION 1000 BRADY STREET DAVENPORT IA 52803 421502549 HOUSING FOR STUDENTS IA 501(C)(3) LINE 9 PALMER COLLEGE FOUNDATION 1 DR DAVID D PALMER ATHLETIC TRUST 1000 BRADY STREET DAVENPORT IA 52803 274313852 FUND RAISING IA 501(C)(3) LINE 11A, I PALMER COLLEGE FOUNDATION 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 PALMER COLLEGE OF CHIROPRACTIC WEST R 1053764 CASH DR DAVID D PALMER ATHLETIC TRUST C 76257 CASH