2013-02-15T09:52:40-07:00 2012-06-30 990 2011-07-01 370673513 KNOX COLLEGE KNOX 3093417212 2 E South Street Galesburg IL 614014999 Thomas Axtell 3093417212 2013-02-15 2011 2016-03-07 17:11:31Z Teresa L Amott Presidents Office Knox Box 142 2 E South Street Galesburg IL 614014999 106945972 0 X www.knox.edu X 1837 IL Knox College is dedicated to providing a liberal arts education to students from diverse backgrounds. Our mission is carried out through: our curriculum, the character of our learning environment, our residential campus culture, and our community. 50 50 1594 700 141360 3122 9215048 14865932 57678901 57914069 4609234 859198 132423 0 71635606 73639199 20753851 23541782 0 0 25974318 27309434 83878 85105 2419334 19150400 18423350 65962447 69359671 5673159 4279528 138315339 142853498 53442656 53016424 84872683 89837074 Knox College is dedicated to providing a liberal arts education to students from diverse backgrounds. Our mission is carried out through: our curriculum, the character of our learning environment, our residential campus culture, and our community. 0 0 55322495 23541782 57914069 Higher Education: Our mission is carried out through our curriculum, the character of our learning environment, our residential campus culture, and our community. Knox College has a tradition of free inquiry, independent thought, and diverse perspectives. Knox College is a college that changes lives. We value independent thinking, egalitarian spirit, and diverse perspectives. Our students choose their own path toward a degree, guided by scholar teachers who encourage them to explore ideas and places, stretch their intellect and their talents, blend thought with action, and fuse imagination with initiative. Founded in 1837 by social reformers strongly opposed to slavery, Knox was one of the first colleges in the United States open to both women and people of color. And it was on our campus that Abraham Lincoln chose to denounce slavery on moral terms for the first time, during the 1858 Lincoln-Douglas Debate. A pervasive spirit of equality thrives on campus today in our commitment to giving every student a voice. With a campus population that includes students from 48 states and 51 countries, 25% U.S. students of color, and individuals from every imaginable religious and socioeconomic background, members of the Knox community are actively challenged to broaden their points of view. (1,420 students) 0 0 0 55322495 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 1 1 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1950 0 1 1594 1 1 1 1 FR SP 0 0 0 0 0 0 0 0 X 50 50 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 X Thomas B Axtell 3093417212 2 E South Street Galesburg IL 614014999 Anderson Jean O 1 X 0 0 0 Anderson Thomas L 1 X 0 0 0 Andrew Laurel J 2 X 0 0 0 Bayer Douglas 2 X 0 0 0 Bibb Harold D 0.25 X 0 0 0 Blew Susan 1 X 0 0 0 Burkhardt Dorothy J 0.25 X 0 0 0 Carlin Nancy B 1 X 0 0 0 Castendyck Robert W 0.25 X 0 0 0 Cecil Jarvis B 0.25 X 0 0 0 DeGraff Deborah 2 X 0 0 0 Fridovich David P LTG 1 X 0 0 0 Frum Sandra E 0.25 X 0 0 0 Gibbs Charles 1 X 0 0 0 Glossberg Joseph B 1 X 0 0 0 Graham Patrick F 0.25 X 0 0 0 Hartog Elzelien 1 X 0 0 0 Hinz Mary M 0.25 X 0 0 0 Jacobson Gary S 1 X 0 0 0 Jaffe Erica A 1 X 0 0 0 Jamieson Robert 1 X 0 0 0 Kerous Frank J 0.25 X 0 0 0 Kilts James M 1 X 0 0 0 Kleine Mark 2 X 0 0 0 Koran Janet M 1 X 0 0 0 Luetger Steven P 2 X 0 0 0 Martin Dan M 0.25 X 0 0 0 Masterson Joe A 1 X 0 0 0 Matkov George J Jr 1 X 0 0 0 Parks Clarence A 1 X 0 0 0 Perille Ann Feldman 1 X 0 0 0 Petrovich Dushan 2 X 0 0 0 Podesta John D 1 X 0 0 0 Potter James R 1 X 0 0 0 Procknow Eugene A 2 X 0 0 0 Purlee James R 1 X 0 0 0 Ramanan Hariharan 1 X 0 0 0 Riddell Richard 1 X 0 0 0 Rosenberg Diane S 1 X 0 0 0 Sampson Walter E 0.25 X 0 0 0 Schluer Tino H 1 X 0 0 0 Schulz David A 2 X 0 0 0 Smith Charles F 2 X 0 0 0 Sparks Robert 0.25 X 0 0 0 Stevenson Smith Fay 1 X 0 0 0 Tucker Caroline H 0.25 X 0 0 0 Vovis Gerald F 2 X 0 0 0 Walter Ralph 1 X 0 0 0 Winning R Kyle 1 X 0 0 0 Amott Teresa L 55 X 132698 0 12756 Axtell Thomas B 40 X 140469 0 17143 Bailey Denise 40 X 37990 0 10979 Breitborde Lawrence B 40 X 149082 0 17630 Holmes Beverly 40 X 122026 0 12340 Maurer Bobby Jo 40 X 76763 0 9775 Nixon Ann 40 X 42133 0 7612 Steenis Paul 40 X 121858 0 12340 Taylor Roger L 0 X X 91327 0 15387 Wilson J Mark 40 X 103024 0 6428 King Bob 40 X 102318 0 19201 Hastings Kevin 40 X 101705 0 19201 1221393 0 160792 8 1 1 0 Hein Construction Company Inc 56 N Cedar Street Galesburg IL 61401 Contractor 608346 Miller Dredge Insurance Agency PO Box 1559 Galesburg IL 61401 Insurance 565454 Associated Colleges of the Midwest Suite 220 205 West Wacker Drive Chicago IL 606061282 Off-campus programs 380874 Jenzabar PO Box 845939 Boston MA 022845939 Software and services 371195 MSI 1144 Monmouth Blvd Galesburg IL 61401 Contractor 245305 20 0 0 0 0 2589814 12276118 2283793 14865932 Tuition & fees 611310 47728360 47728360 0 0 Auxiliary enterprises--Catering 722320 112240 0 112240 0 Auxiliary enterprises-Bookstore 451211 27129 0 27129 0 Auxiliary enterprises 611310 8595632 8595632 0 0 1450708 1450708 0 0 57914069 1929283 0 1991 1927292 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 32236688 0 33306773 0 -1070085 0 -1070085 0 0 -1070085 0 0 0 0 0 0 73639199 57774700 141360 857207 20951007 20951007 2590775 2590775 1151612 217499 797854 136259 19903074 15499785 3349591 1053698 823838 641575 138648 43615 4021987 2605772 1087177 329038 1408923 1097218 237115 74590 17466 17466 85920 85920 85105 85105 2094189 1275807 719130 99252 28299 748 27265 286 5784403 4764431 614712 405260 385438 319709 65729 0 1443786 692954 750832 1656199 1340003 128869 187327 55543 45688 6823 3032 1306753 0 1306753 2939690 0 2939690 386076 158001 226203 1872 Auxiliary Food Svc/Bk Expenses 2178202 2178202 0 0 Other Operating Exp Alloc 0 881935 -881935 0 Miscellaneous expense-program 61386 61386 0 0 69359671 55322495 11617842 2419334 3387913 4456324 0 0 1623207 4553101 1097170 1074433 0 0 0 0 0 0 237942 203006 754670 713878 94449681 54756474 40109284 39693207 85487655 87150701 1333054 1177408 0 0 4284444 3831440 138315339 142853498 3404358 4063971 0 0 491897 503543 24700000 24700000 0 0 0 0 0 0 24846401 23748910 53442656 53016424 X 16542984 16373823 9639777 14446968 58689922 59016283 84872683 89837074 138315339 142853498 X 4279528 684863 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 X X X X 0 84085106 2153598 681058 2486588 70474 0 84362700 67435543 4393325 15004316 2756938 -8860 0 84085106 57550359 5629547 7378101 3075965 46499 0 67435543 71423256 1623588 -11697778 3261000 537707 0 57550359 0.3 0.68 0.02 0 0 0 2731644 2731644 0 59809785 36674901 23134884 0 0 0 0 0 17162284 14094722 3067562 0 14745968 3986851 10759117 39693207 Lines of credit 8597398 Student deposits 515939 Deposits held in custody for others 70192 Annuities payable 1377745 Postretirement benefit obligation 3636000 Federal equity in loan programs 2228328 Interest rate swap liability 7323308 23748910 73639199 69359671 4279528 522963 0 0 0 161900 684863 4964391 50620380 522963 0 0 0 522963 50097417 0 23541782 23541782 73639199 41211806 0 0 0 0 0 41211806 0 28147865 28147865 69359671 SchD_P03_S00_L01 Schedule D, Part III, Line 1 Schedule D, Part III, Line 1 The College has collections of valuable artwork, papers, and other memorabilia that were donated to the College. These items are on display and are used by educators, researchers, historians, and others. However, all proceeds from any sales of collections, or items in a collection, must be used to acquire other items for collections. (From Note 1 Knox College Financial Statements and Independent Auditor's Report For the Years Ended June 30, 2012 and 2011.) SchD_P03_S00_L04 Schedule D, Part III, Line 4 Schedule D, Part III, Line 4 The College has collections of valuable artwork, papers, and other memorabilia that were donated to the College. These items are on display and are used by educators, researchers, historians, and others. . (From Note 1 Knox College Financial Statements and Independent Auditor's Report For the Years Ended June 30, 2012 and 2011.) SchD_P05_S00_L04 Schedule D, Part V, Line 4 The College's endowment consists of several individual funds established for a variety of purposes: scholarships, professorships, library, lectureships, research, prizes, and donor specified educational activities. SchD_P10_S00_L02 Schedule D, Part X, Line 2 NOTE 2 - INCOME TAX STATUS The College is a not-for-profit entity as described in Section 501(c)(3) of the Internal Revenue Code (IRC) and is exempt from federal income taxes on related income pursuant to Section 501(a) of the IRC. The College follows authoritative guidance issued by the Financial Accounting Standards Board (FASB) that clarifies the accounting for uncertainty in income taxes recognized in an entity's financial statements and prescribes a recognition threshold of more-likely-than-not to be sustained upon examination. Measurement of the tax uncertainty occurs if the recognition threshold has not been met. This guidance also addresses de-recognition, classification, interest and penalties, disclosure, and transition. The College conducts business solely in the U.S. and, as a result, files information returns for U.S. and Illinois. In the normal course of business, the College is subject to examination by taxing authorities. The College's information returns for years subsequent to fiscal 2008 are open, by statute, for review by authorities. However, at present, there are no ongoing income tax audits or unresolved disputes with the various tax authorities that the College currently files or has filed with. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 Schedule D, Part XI, Line 8 Other includes $4,606,083 Change in Estimate Postretirement Benefit Obligation, ($4,263,179) Change in Fair Value of Interest Rate SWAPS, and ($181,004) Actuarial Adjustments of Amounts Due Under Annuity and Life Income Agreements. SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Student aid, scholarships, and prizes $23,541,782. SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Student aid, scholarships, and prizes $23,541,782. Change in estimate for Postretirement Benefit Obligation $4,606,083 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SchE_P01_S00_L03 Schedule E, Part I, Line 3 Knox College's nondiscrimination policy is clearly stated in the College catalog, website, admissions materials, applications, and other publications. SchE_P01_S00_L06 Schedule E, Part I, Line 6 Schedule E Line 6 Government Financial Aid Explanation For the fiscal year , Knox College received awards from the following federal programs: Federal Work Study, Federal Direct Loan Program, Federal Supplemental Educational Opportunity Grant Program, Federal Pell Grant, Federal Perkins Loan Program, Academic Competitiveness Grant, SMART Grant, Student Support Services Program, McNair Post-Baccalaureate Achievement, Higher Educational Institutional Aid, College Access Grant, Alcohol Research Programs, Chapter 33-Post 911 GI Bill, Department of the Interior Save America's Treasures, and Lincoln Studies Center. 1 South America 1 1 Program Services Buenos Aires Program 239379 Europe (including Iceland and Greenland) 1 1 Program Services Barcelona Spain Program 432370 Europe (including Iceland and Greenland) 1 1 Program Services Besancon France Program 240088 3 3 911837 Scholarships East Asia and the Pacific 65 1155148 Credit to Student Account 0 Scholarships Europe (including Iceland and Greenland) 16 362945 Credit to Student Account 0 Scholarships South America 13 274708 Credit to Student Account 0 Scholarships South Asia 22 400849 Credit to Student Account 0 Scholarships Sub-Saharan Africa 20 397125 Credit to Student Account 0 0 0 0 0 0 0 SchF_P01_S00_L02 Schedule F, Part I, Line 2 Schedule F, Part I, Line 2 Financial Aid and Satisfactory Academic Progress Standards To remain at Knox, all degree-seeking students are expected to make satisfactory academic progress. Satisfactory progress is defined both in terms of the accumulation of credits toward the degree, and as the maintenance of a gradepoint average consistent with graduation requirements. The Financial Aid Office follows the decisions of the Academic Standing Committee in determining whether a student is meeting the College's satisfactory academic progress standards. X X X X X X 1 Ruffalo Cody & Association 65 Kirkwood North Rd SW Cedar Rapids IA 52406 Provide telephone fundraising services and were hired to oversee the College's Phonathon. 0 635065 85105 549960 635065 85105 549960 AL AZ CA CO CT FL GA IL KS KY MD MI MN MO NC ND NH NJ NY OH OK OR PA SC SD TN UT WA WI SchG_P01_S00_L03 Schedule G, Part I, Line 3 Schedule G, Part I, Line 3 The College references the American Council on Gift Annuities (ACGA) web site that covers state regulations for gift annuities. Of the 14 states that require some form of registration, the College currently maintains registrations in Florida and Maryland. The College has form letters for those states that merely require some form of notice. 1 Individual gift aid (grants and/or scholarships to students). 1315 20951007 0 SchI_P01_S00_L02 Schedule I, Part I, Line 2 Schedule I, Part IV Description for Monitoring the Use of Grant Funds in the US Financial Aid and Satisfactory Academic Progress Standards: To remain at Knox, all degree-seeking students are expected to make satisfactory academic progress. Satisfactory progress is defined both in terms of the accumulation of credits toward the degree, and as the maintenance of a gradepoint average consistent with graduation requirements. The Financial Aid Office follows the decisions of the Academic Standing Committee in determining whether a student is meeting the College's satisfactory academic progress standards. X X 1 1 X X 0 0 0 0 0 0 0 0 0 Amott Teresa L 132698 0 0 0 0 0 6756 0 6000 0 145454 0 0 0 Taylor Roger L 91327 0 0 0 0 0 9387 0 6000 0 106714 0 0 0 Breitborde Lawrence B 149082 0 0 0 0 0 17630 0 0 0 166712 0 0 0 Axtell Thomas B 140469 0 0 0 0 0 17143 0 0 0 157612 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a Schedule J, Part I, Line 1 a Occasionally the President's partner will accompany the President on College fund raising events. The College provides funding for the travel costs. These travel costs are not considered compensation as it is considered a part of the fundraising activities for the College. The President is provided housing by the College. The President's house is considered a part of the College's campus and is used for College events and entertaining. The President's housing is considered nontaxable as it is provided to the President for the convenience of the College. Reimbursements for travel costs must follow the College's purchasing and accounts payable policies. These policies include requirements for documentation and receipts. SchJ_P01_S00_L03 Schedule J, Part I, Line 3 Schedule J, Part I Line 3 Compensation is reviewed annually. This review includes cost of living statistics, compensation paid for similar positions at other similar colleges, and compensation paid locally for like positions. A standard achievement increase is determined and is approved by the Board of Trustees during the June meeting in conjunction with the approval of the following year's budget. The Board of Trustees reviews the President's salary and approves any changes. All staff increases are reviewed by the President, Vice Presidents, and heads of departments. X 49 2283793 Ave High/Low MV 0 0 1 0 F990_P06_S0A_L04 Form 990, Part VI, Section A, Line 4 In February 2012, the Knox College Board of Trustees approved an amendment to Article II, Section 1 of the College's By-Laws. The amendment allows for the election of officers prior to the regular Spring meeting and adds that the term of office begins on July1. F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b Form 990, Part VI, Section b, Line 11 The 990 is reviewed by the Audit Committee prior to filing the return. The 990 is made available to all College Trustees for review. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c Form 990, Part VI, Section B, Line 12c Officer's Conflict of Interest: Any conflict of interest on the part of an officer of the College designated in this article, or members of such officer's immediate family, shall be disclosed by the officer in writing to the Board of Trustees at least annually and made a matter of record. When any such interest becomes relevant to any subject requiring administration or Board of Trustees' action, the officer having a conflict shall call it to the attention of the President and, if the matter is being considered by the Board of Trustees or one of its committees, to the attention of the Board or such committee. The officer shall not participate in the discussion of the subject or make any recommendations regarding the subject in which the officer or a member of the officer's immediate family has a conflict of interest, and shall not use personal influence to affect the decision with respect to such subject. An officer of the College who is excluded from participating in discussions or making recommendations regarding the subject because of such conflict or interest shall, however, briefly state the nature of the conflict and shall be encouraged to answer pertinent questions of the Trustees when the officer's knowledge of the subject will assist the Board of Trustees, any of its committees or the administration. The minutes of any meeting attended by the interested officer at which the subject is discussed shall reflect that a disclosure was made and that the interested officer abstained from the discussion except to the extent provided above. (From Bylaws of Knox College) F990_P06_S0B_L13 Form 990, Part VI, Section B, Line 13 Form 990, Part VI, Section B, Line 13 Each year, during fall term, a memo is sent via e-mail to all employees reminding them of Knox College's "common sense approach to reporting fraud". Included in this message are instructions on how to report suspected fraud. This memo includes the following instructions: "If you suspect fraud, please immediately notify someone in a position of authority, for example, your supervisor, a department head, a dean or vice president, the president or trustee who chairs the audit committee." F990_P06_S0B_L14 Form 990, Part VI, Section B, Line 14 Form 990, Part VI, Section B, Line 14 The College does not have a written document retention and destruction policy, however, record retention and destruction policies are developed, as needed, by each department to address their specific type(s) of records. Departments follow industry standards that are appropriate for their specific type(s) of records. In conjunction with record destruction for confidential records, the College contracted with a vendor to provide locked bins for departmental use and the secure destruction of these records. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 Form 990, Part VI, Section B, Line 15 Compensation is reviewed annually. This review includes cost of living statistics, compensation paid for similar positions at other similar colleges, and compensation paid locally for like positions. A standard achievement increase is determined and is approved by the Board of Trustees during the June meeting in conjunction with the approval of the following year's budget. The Board of Trustees reviews the President's salary and approves any changes. All staff increases are reviewed by the President, Vice Presidents, and heads of departments. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 Form 990, Part VI, Section C, Line 19 The Bylaws of the College are available on the College's website (www.knox.edu). Each fall, conflict of interest forms are distributed to trustees, officers, and department heads. Financial statements are available upon request to the Treasurer's Office. All trustees are provided copies of the financial statements each year. F990_P10_S00_L12 Form 990, Part X, Line 12 Other Investments: Real estate $708,000; Life insurance contracts $464,134; and Other $5,274. F990_P11_S00_L05 Form 990, Part XI, Line 5 Other changes in net assets includes $522,963 Net Unrealized Gains; $4,606,083 Change In Estimate Postretirement Benefit Obligation ($4,263,179) Change in Fair Value of Interest Rate SWAPS; and ($181,004) Actuarial Adjustments of Amounts Due Under Annuity and Life Income Agreements. F990_P12_S00_L02c Form 990, Part XII, Line 2c Form 990, Part XII, Line 2c The 990 is reviewed by the Audit Committee prior to filing the return. The 990 is made available to all College Trustees for review. We filed form 8868 Application for a 3 month Automatic Extension of Time to File on November 6, 2012 via certified mail. (Extension of due date to February 15, 2013.)