2025-02-24T16:16:30-06:00 2024-05-31 273858252 DEAN DORTON ALLEN FORD PLLC 435 N WHITTINGTON PKWY STE 400 LOUISVILLE KY 40222 990 2023-06-01 610482955 BELLARMINE UNIVERSITY INCORPORATED BELL 5022728263 2001 NEWBURG ROAD LOUISVILLE KY 40205 DENISE BROWN-CORNELIUS VP FOR FINANCE AND FACILITIES 5022728261 2025-02-14 1 0 AMELIA SEBASTIAN P01251828 5025896050 2023 2025-03-06 01:10:19Z BELLARMINE UNIVERSITY DENISE BROWN-CORNELIUS 2001 NEWBURG ROAD LOUISVILLE KY 40205 155568392 0 X WWW.BELLARMINE.EDU X 1950 KY BELLARMINE UNIVERSITY EDUCATES STUDENTS THROUGH UNDERGRADUATE AND GRADUATE PROGRAMS IN THE LIBERAL ARTS AND PROFESSIONAL STUDIES. THE UNIVERSITY IS AN INDEPENDENT CATHOLIC UNIVERSITY SERVING THE REGION, NATION, AND WORLD THROUGH POST-SECONDARY EDUCATION. 26 26 1550 482 0 0 8526976 13786226 121326210 125342781 3240467 6024582 2824092 2743751 135917745 147897340 63709674 66848350 0 0 50585224 49329962 14424 0 2238527 32707455 31007041 147016777 147185353 -11099032 711987 201723628 201108500 77402030 72247959 124321598 128860541 X BELLARMINE UNIVERSITY EDUCATES STUDENTS THROUGH UNDERGRADUATE AND GRADUATE PROGRAMS IN THE LIBERAL ARTS AND PROFESSIONAL STUDIES. THE UNIVERSITY IS AN INDEPENDENT CATHOLIC UNIVERSITY SERVING THE REGION, NATION, AND WORLD THROUGH POST-SECONDARY EDUCATION. 0 0 98600738 66689965 112188548 INSTRUCTION: 2,351 STUDENTS IN UNDERGRADUATE CLASSES; 642 STUDENTS IN GRADUATE CLASSES; 855 STUDENTS GRADUATED IN 2023-2024 ACADEMIC SCHOOL YEAR. 6776860 158385 7100923 AUXILIARY HOUSING: AUXILIARY STUDENT HOUSING IS THE MAJOR AUXILIARY ENTERPRISE. LIVING QUARTERS WERE PROVIDED TO 1,039 STUDENTS IN THE RESIDENCE HALLS. THE ON-CAMPUS FOOD SERVICE PROGRAM AND CAMPUS STORE ARE INCLUDED IN TOTAL AUXILIARY ENTERPRISE. 20637478 6042417 STUDENT SERVICES: THE FOLLOWING DEPARTMENTS ENCOMPASS THE MAJOR AREAS OF THE UNIVERSITY STUDENT SERVICES DIVISION: STUDENT AFFAIRS, ADMISSIONS AND ENROLLMENT SERVICES, OFFICE OF FINANCIAL AID, REGISTRAR'S OFFICE, HEALTH AND COUNSELING SERVICES, RECREATION, AND INTRAMURAL OFFICES. 4710790 0 2438950 OTHER PROGRAM SERVICES INCLUDE: ATHLETIC SUPPORT, LIBRARY AND COMPUTER TECHNOLOGY SERVICES, AND SUPPORT FOR THE ACADEMIC DIVISIONS. 4710790 0 2438950 130725866 1 1 0 0 0 0 0 1 0 1 1 1 0 1 1 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 1 0 0 0 1 520 0 1 1550 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 X 26 26 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK KY MA NH WA X DENISE BROWN-CORNELIUS 5022728263 2001 NEWBURG ROAD LOUISVILLE KY 40205 DONALD J KELLY CHAIR 2.00 X 0 0 0 JAMES R ALLEN CFA VICE CHAIR & TREASURER 2.00 X 0 0 0 SHARON E DES JARLAIS SECRETARY 2.00 X 0 0 0 J MCCAULEY BROWN TRUSTEE 2.00 X 0 0 0 KEVIN BROWN TRUSTEE 2.00 X 0 0 0 KRISTEN BYRD TRUSTEE 2.00 X 0 0 0 RUSSELL F COX TRUSTEE 2.00 X 0 0 0 JESSE FLYNN TRUSTEE 2.00 X 0 0 0 C EDWARD GLASSCOCK TRUSTEE 2.00 X 0 0 0 JA HILLEBRAND TRUSTEE 2.00 X 0 0 0 MICHAEL HOBBS TRUSTEE 2.00 X 0 0 0 TIM HOURIGAN TRUSTEE 2.00 X 0 0 0 TOBY KING TRUSTEE 2.00 X 0 0 0 DR MARK LYNN TRUSTEE 2.00 X 0 0 0 MICHAEL J MACKIN TRUSTEE 2.00 X 0 0 0 WILLIAM E MUDD TRUSTEE 2.00 X 0 0 0 STEPHEN G MULLINS TRUSTEE 2.00 X 0 0 0 DR CAROLE PFEFFER TRUSTEE 2.00 X 0 0 0 BRADFORD T RAY TRUSTEE 2.00 X 0 0 0 JOE REEVES TRUSTEE 2.00 X 0 0 0 BILL SAMUELS JR TRUSTEE 2.00 X 0 0 0 DR MARIAN A SWOPE TRUSTEE 2.00 X 0 0 0 CAROLYN TANDY TRUSTEE 2.00 X 0 0 0 TOM L THOMAS TRUSTEE 2.00 X 0 0 0 STEVEN E TRAGER TRUSTEE 2.00 X 0 0 0 DOUG WHYTE TRUSTEE 2.00 X 0 0 0 SUSAN M DONOVAN PRESIDENT 40.00 X 461501 0 26469 SEAN RYAN SR. VP ADMIN, STRATGETIC I 40.00 X 243424 0 29682 MICHAEL JOHN MARSHALL VP ENROLLMENT, MARKETING, 40.00 X 190241 0 18787 HELEN-GRACE RYAN VP STUDENT AFFAIRS 40.00 X 200003 0 8512 DAVID SCOTT SELF VP INSTITUTIONAL ADVANCEME 40.00 X 237802 0 28567 MARY DENISE BROWN-CORNELIUS VP FOR FINANCE AND FACILIT 40.00 X 189487 0 15111 MARK R WIEGAND ASSOCIATE PROVOST 40.00 X 182327 0 14677 SCOTT DAVENPORT HEAD COACH MEN'S BASKETBAL 40.00 X 381775 0 22652 DANIEL L BAUER PROFESSOR OF BUSINESS 40.00 X 170526 0 18817 PATRICK SCOTT WIEGANDT DIRECTOR OF ATHLETICS 40.00 X 158938 0 18099 CARLY JAYNE MITCHELL ASSISTANT PROFESSOR OF NURSING & NURSE ANESHESIA 40.00 X 180240 0 387 BRADLEY A STEVENSON PROFESSOR OF FINANCE 40.00 X 158632 0 13066 PAUL ANTHONY GORE FORMER PROVOST AND PROFESSOR 40.00 X 247719 0 17251 3002615 0 232077 67 1 1 0 SODEXO 2001 NEWBURG ROAD LOUISVILLE KY 40205 FOOD SERVICES 3964763 FOLLETT HIGHER EDUCATION GROUP 2001 NEWBURG ROAD LOUISVILLE KY 40205 CAMPUS STORE 1973795 FACILITIES MANAGEMENT SERVICES 1500 LYTLE STREET LOUISVILLE KY 40203 CLEANING SERVICES 1424764 VARSITY BRANDS HOLDINGS CO 3131 APPLING ROAD BARTLETT TN 381333910 ATHLETIC UNIFORMS 827700 MILLER TRANSPORTION INC 111 OUTER LOOP LOUISVILLE KY 40214 TRANSPORTATION 422374 34 128064 1506535 12151627 3470801 13786226 TUITION AND FEES 611710 112188548 112188548 HOUSING 611710 5095352 5095352 FOOD SERVICE 611710 1792748 1792748 CAMPUS STORE 611710 212822 212822 MEMBERSHIP DUES 611710 10894 10894 6042417 6042417 125342781 2024230 2024230 303884 303884 174000 63384 110616 110616 110616 7208070 3779670 4607455 2683817 2600615 1095853 3696468 3696468 463359 128064 305541 157818 157818 58115 10855 47260 47260 ATHLETIC REVENUE 711210 1445779 1445779 OTHER 531390 503418 503418 SPORTS CAMP 713990 408450 408450 70410 70410 2428057 147897340 127770838 0 6340276 66848350 66848350 2041187 704546 976740 359901 37852633 31477713 5239217 1135703 935325 747542 159607 28176 5787830 4736460 899816 151554 2712987 2192020 438530 82437 115868 115868 73900 73900 24000 24000 2823416 1543741 1192588 87087 1009935 809363 178867 21705 3310121 2644802 539548 125771 1904374 1102726 766508 35140 2396528 1316909 1079619 2749960 2623486 106338 20136 173258 139161 32583 1514 2753710 2676384 61340 15986 5023633 4789889 172603 61141 1150678 584327 566351 CLASSROOM SUPPLIES 2471836 2471836 MEALS 1484066 1254428 177481 52157 PLANT 1157888 317361 838629 1898 MEMBERSHIP AND DUES 847507 547156 294923 5428 1536363 1197666 285904 52793 147185353 130725866 14220960 2238527 8370 8370 9219861 7725261 4998963 6232949 6098171 5474613 292665 235496 98933 95388 3593060 3682006 199635569 98192801 104037995 101442768 44343504 46547332 8346780 11175838 20685326 18488479 201723628 201108500 5368558 4245845 5961443 5644476 60869732 57182863 5202297 5174775 77402030 72247959 X 67251390 67485638 57070208 61374903 124321598 128860541 201723628 201108500 711987 3826956 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 24000 PART I-A, LINE 1: BELLARMINE HAS A CONTRACT WITH A GOVERNMENT AFFAIRS CONSULTANT TO PERFORM GENERAL REPRESENTATION BEFORE THE STATE GOVERNMENT IN THE COMMONWEALTH OF KENTUCKY AT THE STATE'S EXECUTIVE AND LEGISLATIVE BRANCHES AS WELL AS THE CITY OF LOUISVILLE. THE UNIVERSITY AND ITS CONSULTANT ADVOCATE GENERALLY FOR ISSUES THAT IMPACT HIGHER EDUCATION STUDENTS AND REGIONAL WORKFORCE TO PROMOTE AND STRENGTHEN THE UNIVERSITY'S CAPABILITIES AND RESOURCES. THE UNIVERSITY DOES NOT PARTICIPATE IN, OR INTERVENE IN, ANY POLITICAL CAMPAIGN ON BEHALF OF, OR IN OPPOSITION TO, ANY CANDIDATE FOR PUBLIC OFFICE. X X X 0 57885483 1416991 5746896 1920344 975737 521579 61631710 69416840 892639 -8910996 1690742 1106661 715597 57885483 77758768 923703 -5837231 1578297 1055288 794815 69416840 63607779 887526 16475563 1458029 996399 757672 77758768 64335063 527838 1819038 1378212 953960 741988 63607779 0.15640 0.84360 0.00000 0 0 3952693 3952693 134737680 59309828 75427852 35696446 24525755 11170691 25248750 14357218 10891532 101442768 GLOBAL HEDGED EQUITY 1133858 F ABSOLUTE RETURN HEDGE 3674541 F PRIVATE EQUITY 1238755 F OTHER ASSETS 5087765 F CLOSELY HELD EQUITY INTERESTS 40919 F 11175838 ENDOWMENT - REAL ESTATE 15069317 RIGHT-OF-USE OPERATING LEASES 2358178 PROPERTY HELD FOR SALE 1060984 18488479 LONG-TERM CAPITAL LEASE 2467233 ADVANCES FOR STUDENT LOANS 60239 ANNUITY OBLIGATIONS 2140834 LONG-TERM NOTE PAYABLE 506469 5174775 X 85255726 3826956 379780 4206736 81048990 66848350 66848350 147897340 80716783 379780 379780 80337003 66848350 66848350 147185353 PART III, LINE 1A: THE HISTORICAL TREASURES OF THE UNIVERSITY CONSIST OF OVER 50,000 ITEMS OF THOMAS MERTON INCLUDING WRITINGS, DRAWINGS, PHOTOGRAPHS, PERSONAL POSSESSIONS, AND OTHER MERTON ARTIFACTS. THEY ARE KEPT IN THE THOMAS MERTON CENTER LOCATED IN THE UNIVERSITY LIBRARY BUILDING. THE MERTON CENTER IS USED FOR SCHOLARLY RESEARCH ON THOMAS MERTON, A WORLD CONTEMPLATIVE AND WRITER. IN ADDITION TO THE MERTON TREASURES, THE UNIVERSITY HAS NUMEROUS DOROTHY DAY TREASURES. DOROTHY DAY WAS A NOTED TWENTIETH-CENTURY CATHOLIC SOCIAL ACTIVIST AND THINKER. AMONG THE TREASURES OF THE UNIVERSITY ARE 136 ORIGINAL LETTERS FROM DOROTHY DAY, FOUR SIGNED BOOKS BY DOROTHY DAY, HUNDREDS OF EARLY CATHOLIC WORKER PHOTOS AND 523 CATHOLIC WORKER NEWSPAPERS, MOSTLY COMPLETE FROM THE FIRST ISSUE, 1933 THROUGH 1990. THESE MATERIALS ARE NOW AVAILABLE FOR CONSULTATION BY RESEARCHERS VISITING THE THOMAS MERTON CENTER AT BELLARMINE UNIVERSITY WHO ARE INTERESTED IN THE LIFE AND WORK OF DOROTHY DAY. PART V, LINE 4: THE UNIVERSITY HAS ADOPTED INVESTMENT AND SPENDING POLICIES APPROVED BY THE BOARD OF TRUSTEES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO SUPPORT CURRENT AND FUTURE UNIVERSITY NEEDS WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THESE ENDOWMENT ASSETS OVER THE LONG-TERM AND TO BUILD CAPITAL FOR FUTURE USE. THE UNIVERSITY'S SPENDING AND INVESTMENT POLICIES WORK TOGETHER TO ACHIEVE THIS OBJECTIVE. PART X, LINE 2: PURSUANT TO A DETERMINATION BY THE INTERNAL REVENUE SERVICE, THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS 316,396. RENTAL EXPENSE 63,384. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 66,848,350. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS 316,396. RENTAL EXPENSE 63,384. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 66,848,350. 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 WRITTEN IN ALL OF THE PUBLICATIONS OF THE UNIVERSITY. ALSO, THE POLICY IS BROADCAST THROUGHOUT THE YEAR IN NUMEROUS PUBLIC PUBLICATIONS INCLUDING LOCAL NEWSPAPERS, PROMOTIONAL MATERIALS AND OTHER STUDENT BROCHURES. SCHEDULE E, PART I, LINE 6 BELLARMINE UNIVERSITY PARTICIPATES IN THE FOLLOWING FINANCIAL AID PROGRAMS: FEDERAL PELL GRANT PROGRAM, FEDERAL WORK-STUDY PROGRAM, FEDERAL SUPPLEMENTAL EDUCATIONAL GRANT OPPORTUNITY GRANT PROGRAM, FEDERAL PERKINS LOAN PROGRAM, FEDERAL DIRECT LOAN PROGRAM, FEDERAL DIRECT PLUS LOAN PROGRAM, AND TEACHER EDUCATION ASSISTANCE FOR COLLEGE AND HIGHER EDUCATION GRANTS PROGRAM. THE UNIVERSITY COMPLIES WITH THE ANNUAL SINGLE AUDIT REQUIREMENTS, FILINGS WITH THE FEDERAL AUDITING CLEARINGHOUSE, AND THE DEPARTMENT OF EDUCATION FILINGS. X X X X X X X 0 KNIGHT OF KNIGHTS 218988 100296 118692 33196 63089 3500 18907 DAVENPORT DERBY DASH 209998 3438 206560 4438 20249 600 81770 8 162437 24330 138107 1040 35669 23978 786 18319 591423 128064 463359 1040 73303 107316 4886 118996 305541 157818 58115 3695 4484 2676 0 58115 3695 4484 2676 10855 47260 KY 1 0 1 0 0.50000 0.50000 TRACEY COX 2001 NEWBURG ROAD LOUISVILLE KY 40205 0 MATT REAL AND BETHANY PADGETT 4900 MATT REAL IS THE MANAGER OF DERBY DASH. HE RECEIVED COMPENSATION OF $2,650. BETHANY PADGETT IS THE MANAGER OF TRIVA KNIGHT. SHE RECEIVED COMPENSATION OF $2,250. X 1 46260 1 SCHOLARSHIPS AND DISCOUNTS 2384 66848350 FMV PART I, LINE 2: SCHOLARSHIPS AND DISCOUNT AMOUNTS AWARDED TO STUDENTS ARE POSTED DIRECTLY TO EACH STUDENTS' ACCOUNTS RECEIVABLE SUBSIDIARY ACCOUNT. X X 1 1 X X X X 0 0 0 0 0 0 0 1 0 SUSAN M DONOVAN PRESIDENT 425043 0 0 0 36458 0 13200 0 13269 0 487970 0 0 0 SCOTT DAVENPORT HEAD COACH MEN'S BASKETBAL 263357 0 115418 0 3000 0 10875 0 11777 0 404427 0 0 0 SEAN RYAN SR. VP ADMIN, STRATGETIC I 233424 0 10000 0 0 0 9788 0 19894 0 273106 0 0 0 DAVID SCOTT SELF VP INSTITUTIONAL ADVANCEME 232802 0 0 0 5000 0 9600 0 18967 0 266369 0 0 0 PAUL ANTHONY GORE FORMER PROVOST AND PROFESSOR 247719 0 0 0 0 0 9857 0 7394 0 264970 0 0 0 MICHAEL JOHN MARSHALL VP ENROLLMENT, MARKETING, 190241 0 0 0 0 0 7909 0 10878 0 209028 0 0 0 HELEN-GRACE RYAN VP STUDENT AFFAIRS 200003 0 0 0 0 0 8102 0 410 0 208515 0 0 0 MARY DENISE BROWN-CORNELIUS VP FOR FINANCE AND FACILIT 189487 0 0 0 0 0 7891 0 7220 0 204598 0 0 0 MARK R WIEGAND ASSOCIATE PROVOST 182327 0 0 0 0 0 7444 0 7233 0 197004 0 0 0 DANIEL L BAUER PROFESSOR OF BUSINESS 170526 0 0 0 0 0 7246 0 11571 0 189343 0 0 0 CARLY JAYNE MITCHELL ASSISTANT PROFESSOR OF NURSING & NUR 180240 0 0 0 0 0 0 0 387 0 180627 0 0 0 PATRICK SCOTT WIEGANDT DIRECTOR OF ATHLETICS 158083 0 0 0 855 0 6550 0 11549 0 177037 0 0 0 BRADLEY A STEVENSON PROFESSOR OF FINANCE 158632 0 0 0 0 0 6382 0 6684 0 171698 0 0 0 PART I, LINE 1A FIRST CLASS TRAVEL IS PROVIDED ONLY IN CERTAIN LIMITED SITUATIONS. THE PRESIDENT'S SPOUSE SOMETIMES ACCOMPANIES THE PRESIDENT ON OFFICIAL BUSINESS FOR THE UNIVERSITY. THE PRESIDENT RECEIVES A HOUSING ALLOWANCE BUT DOES NOT RESIDE IN A RESIDENCE OWNED BY THE UNIVERSITY. PART I, LINE 7 THE EXECUTIVE COMMITTEE REVIEWS THE PRESIDENT'S PERFORMANCE ON AN ANNUAL BASIS AND ESTABLISHES CRITERIA DURING THE NEXT FISCAL YEAR TO ESTABLISH GOALS THE PRESIDENT MUST MEET OR EXCEED IN ORDER TO QUALIFY FOR BONUS COMPENSATION. A LOU JEFF CO METRO GOVERNMENT IMPROVEMENT 616001862 2015-09-01 35405000 REFUNDING & CAP IMPROVEMENT 0 0 0 B LOU JEFF CO METRO GOVERNMENT IMPROVEMENT 616001862 2017-11-29 41290000 REFUNDING 0 0 0 A 12545000 36860415 2254263 455648 413664 10000145 23682400 54294 2016 0 1 0 1 B 4380000 43052275 4078154 242481 426463 38270960 34217 0 1 0 1 A 0 0 0 0 1 0 0 B 0 0 0 0 1 0 0 A 0 0 0 1 0 0 0 0 0 B 0 0 0 1 0 0 0 0 0 A 0 B 0 SCHEDULE K - ALL BONDS: BONDS ISSUED SEPTEMBER 2015 AND NOVEMBER 2017. A DEBT SERVICE RESERVE FUND HAS BEEN ESTABLISHED FOR THE BONDS AND IS REQUIRED TO BE MAINTAINED IN AN AMOUNT EQUAL TO THE LEAST OF: (I) 10% OF THE NET PROCEEDS OF THE BONDS; (II) THE MAXIMUM ANNUAL DEBT SERVICE REQUIREMENTS; OR (III) 125% OF THE AVERAGE ANNUAL DEBT SERVICE REQUIREMENTS. AMOUNTS IN THE DEBT SERVICE RESERVE FUND MAY BE INVESTED BY THE UNIVERSITY ONLY IN INVESTMENT SECURITIES. THE MARKET VALUE OF THOSE SECURITIES AT MAY 31, 2024 WAS $4,078,153 AND $2,254,263 FOR THE SERIES 2017 AND 2015 BONDS RESPECTIVELY, AND ARE REFLECTED AS PLANT FUNDS ON THE STATEMENTS OF FINANCIAL POSITION. (A) BOND ISSUED IN 2015: IN SEPTEMBER 2015, THE UNIVERSITY ISSUED $35,405,000 OF LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT, COLLEGE IMPROVEMENT REVENUE AND REVENUE REFUNDING BONDS, SERIES 2015 (BELLARMINE UNIVERSITY PROJECTS) OF WHICH $12,474,245 WAS USED FOR THE PURPOSE OF DEFEASING THE CITY OF SHIVELY, KENTUCKY, COLLEGE REVENUE REFUNDING BONDS, SERIES 2012 (SHIVELY 2012 BONDS) AND THE CITY OF AUDUBON PARK, KENTUCKY, COLLEGE REVENUE REFUNDING BONDS, SERIES 2012 (AUDUBON PARK 2012 BONDS) TOGETHER REFERRED TO AS THE BELLARMINE UNIVERSITY INCORPORATED PROJECT AND $13,138,788 WAS USED TO DEFEASE THE CITY OF SHIVELY, KENTUCKY, COLLEGE IMPROVEMENT REVENUE BONDS, SERIES 2011 (SHIVELY 2011 BONDS) AND THE CITY OF AUDUBON PARK, KENTUCKY COLLEGE IMPROVEMENT REVENUE BONDS, SERIES 2011 (AUDUBON PARK 2011 BONDS) TOGETHER REFERRED TO AS THE BELLARMINE UNIVERSITY INCORPORATED PROJECT. $10,816,138 WAS USED TO PROVIDE NEW MONEY TO RENOVATE THE FIRST FLOOR OF THE LIBRARY INTO A STATE-OF-THE-ART STUDENT LEARNING SPACE "LANSING LEARNING COMMONS", FOR THE CONSTRUCTION OF THE NEW "CENTRO" BUILDING A 46,000 SQUARE FOOT CLASSROOM AND OFFICE BUILDING, AND RENOVATION OF EXISTING HORRIGAN HALL. (B) BOND ISSUED IN 2017: IN NOVEMBER 2017, THE UNIVERSITY ISSUED $30,280,000 OF LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT, COLLEGE IMPROVEMENT REVENUE REFUNDING BONDS, SERIES 2017A (BELLARMINE UNIVERSITY PROJECTS) AND ISSUED $11,010,000 OF LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT, COLLEGE IMPROVEMENT REVENUE REFUNDING BONDS, TAXABLE SERIES 2017B (BELLARMINE UNIVERSITY PROJECTS), WHICH WAS USED FOR THE PURPOSE OF DEFEASING THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT, COLLEGE REFUNDING AND IMPROVEMENT REVENUE BONDS, SERIES 2008A $25,005,000 (BELLARMINE UNIVERSITY PROJECT) WHICH WERE ISSUED FOR THE PURPOSE OF CONSTRUCTING A 146 BED RESIDENCE HALL, TO CONSTRUCT AN ADDITION TO A CLASSROOM BUILDING, AND TO RENOVATE AN OFFICE BUILDING AND TO DEFEASE $14,945,000 OF BONDS FROM THE LOUISVILLE JEFFERSON/COUNTY METRO GOVERNMENT, COLLEGE IMPROVEMENT REVENUE BONDS, SERIES 2009 $16,175,000 (BELLARMINE UNIVERSITY INCORPORATED PROJECT) OF WHICH THE MAJORITY WAS USED TO PROVIDE NEW MONEY TO CONSTRUCT A 119 BED RESIDENCE HALL, TO CONSTRUCT A SUBSTANTIAL ADDITION TO THE MAIN DINING HALL, RENOVATE AND EXPAND THE CAFE', AND ADD 276 SURFACE PARKING SPACES ON CAMPUS. SCHEDULE K, PART II, PROCEEDS, LINE 3 TOTAL PROCEEDS, COLUMN A: ISSUE PRICE (35,405,000) PLUS OIP (1,024,171) PLUS INVESTMENT EARNINGS (431,244) EQUALS TOTAL PROCEEDS OF ISSUE (36,860,415) SCHEDULE K, PART II, PROCEEDS, LINE 3 TOTAL PROCEEDS, COLUMN B: ISSUE PRICE (41,290,000) PLUS OIP (1,157,105) PLUS INVESTMENT EARNINGS (605,170) EQUALS TOTAL PROCEEDS OF ISSUE (43,052,275) SCHEDULE K, PART III, PRIVATE BUSINESS USE, LINE 9: THE UNIVERSITY IS IN THE PROCESS OF DEVELOPING POLICIES AND PROCEDURES. SCHEDULE K, PART IV, ARBITRAGE, LINE 2C: REBATE COMPUTATIONS ARE PERFORMED BY FROST BROWN TODD, PLLC ATTORNEYS AT LAW. SCHEDULE K, PART IV, ARBITRAGE, LINE 7: THE UNIVERSITY IS IN THE PROCESS OF DEVELOPING POLICIES AND PROCEDURES. SCHEDULE K, PART V, PROCEDURES: THE UNIVERSITY IS IN THE PROCESS OF DEVELOPING POLICIES AND PROCEDURES. STEVEN E TRAGER CURRENT UNIVERSITY TRUSTEE 347215 CAPITAL LEASE 0 WILLIAM E MUDD CURRENT UNIVERSITY TRUSTEE 36836 SERVICES 0 JESSE FLYNN CURRENT UNIVERSITY TRUSTEE 149614 CAPITAL LEASE 0 PART IV: (A) NAME OF INTERESTED PERSON: STEVEN E. TRAGER(B) RELATIONSHIP BETWEEN INTERESTED PERSONS AND THE ORGANIZATION: CURRENT UNIVERSITY TRUSTEE(C) AMOUNT OF TRANSACTION: $347,215(D) DESCRIPTION OF SERVICES: CAPITAL LEASE. THE UNIVERSITY HAS A 10-YEAR CAPITAL LEASE WITH THE REPUBLIC BANK AND TRUST. MR. TRAGER IS CHIEF EXECUTIVE OFFICER OF REPUBLIC BANK AND TRUST. THE LEASE WAS AWARDED THROUGH A COMPETITIVE PROCESS. THE UNIVERSITY PAID $347,215 DURING THE PERIOD COVERED BY THIS RETURN. (A) NAME OF INTERESTED PERSON: WILLIAM E. MUDD(B) RELATIONSHIP BETWEEN INTERESTED PERSONS AND THE ORGANIZATION: CURRENT UNIVERSITY TRUSTEE(C) AMOUNT OF TRANSACTION: $36,836(D) DESCRIPTION OF SERVICES: SERVICES. MR. MUDD, TRUSTEE, IS PRESIDENT AND CHIEF OPERATING OFFICER OF CHURCHILL DOWNS INCORPORATED. THE UNIVERSITY HOSTS EVENTS AT CHURCHILL DOWNS INCORPORATED. THE UNIVERSITY RECEIVES GROUP PRICING RATES FOR THE EVENTS HOSTED SIMILAR TO OTHER ORGANIZATIONS NOT RELATED TO CHURCHILL DOWNS INCORPORATED. THE UNIVERSITY SPENT $36,836 DURING THE PERIOD COVERED BY THIS RETURN. (A) NAME OF INTERESTED PERSON: JESSE FLYNN(B) RELATIONSHIP BETWEEN INTERESTED PERSONS AND THE ORGANIZATION: CURRENT UNIVERSITY TRUSTEE(C) AMOUNT OF TRANSACTION: $149,614(D) DESCRIPTION OF SERVICES: CAPITAL LEASE. JESSE FLYNN, TRUSTEE, IS AN OWNER IN TAYLOR AVENUE LLC AND FLYNN HOLDINGS MANAGEMENT CO. THE UNIVERSITY LEASES THE FLYNN BUILDING THAT HOUSES OUR DNP - NURSE ANESTHESIA PROGRAM FROM TAYLOR AVENUE LLC. THE UNIVERSITY PAID TAYLOR AVENUE $149,614 DURING THE PERIOD COVERED BY THIS RETURN. OUTSTANDING PLEDGES OF $587,476 WITH A NPV OF $550,332 ARE DUE FROM FLYNN HOLDINGS AS OF MAY 31,2024. X 16 3403673 MARKET VALUE X OTHER 13 67128 MARKET VALUE 0 1 0 SCHEDULE M, LINE 32B: THE UNIVERSITY HAS A WRITTEN GIFT ACCEPTANCE POLICY FOR THE REVIEW OF ANY NON-STANDARD CONTRIBUTIONS. THE POLICY REQUIRES THAT PRIOR TO ACCEPTING NON-STANDARD GIFTS THAT THE DEVELOPMENT OFFICERS REVIEW THE NEED OF THE UNIVERSITY FOR SUCH GIFT AND DISCUSS THE GIFT WITH THE AREA VICE-PRESIDENT OR DEAN OF THE DEPARTMENT TO DETERMINE THAT THE GIFT FALLS WITHIN THE UNIVERSITY'S MISSION AND VISION. FINAL APPROVAL OF THE GIFT IS MADE BY THE VICE-PRESIDENT FOR ADMINISTRATION AND FINANCE OR VICE-PRESIDENT FOR DEVELOPMENT AND ALUMNI RELATIONS. FORM 990, PART VI, SECTION A, LINE 2 MR. STEVE TRAGER, MR. W. PATRICK MULLOY, AND MR. ERNEST MARSHALL, CURRENT TRUSTEES, HAVE A BUSINESS RELATIONSHIP. MR. RUSS COX, CURRENT TRUSTEE, IS THE PRESIDENT AND CEO OF NORTON HEALTHCARE AND MR. CRAIG GRANT, CURRENT TRUSTEE, IS A MEMBER OF THE BOARD OF NORTON HEALTHCARE. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PREPARED BY DEAN DORTON WITH INFORMATION GATHERED FROM THE UNIVERSITY. THE FINAL RETURN IS REVIEWED IN DETAIL BY STAFF MEMBERS OF THE BUSINESS AFFAIRS DEPARTMENT. CONTINUING EDUCATION ON TAX REQUIREMENTS IS PROVIDED TO THOSE INVOLVED WITH THE PREPARATION AND REVIEW OF THE 990. THE RETURN IS GIVEN TO THE AUDIT COMMITTEE. THE AUDIT COMMITTEE REVIEWS AND DISCUSSES THE RETURN. THE AUDIT COMMITTEE REPORTS INFORMATION REGARDING THE 990 TO THE FULL BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION SENDS ITS CONFLICT OF INTEREST POLICY TO ALL BOARD MEMBERS ANNUALLY. THE VP FOR FINANCE MONITORS THAT ALL MEMBERS RETURN A SIGNED COPY INDICATING THEY HAVE REVIEWED THE POLICY AND LISTED ANY POTENTIAL CONFLICTS. ANY BOARD MEMBER WHO HAS A CONFLICT OF INTEREST ON ITEMS THAT ARE VOTED ON AT THE TRUSTEE LEVEL RECUSE THEMSELVES FROM THE VOTE. CONFLICTS IN THE NORMAL COURSE OF BUSINESS THAT DO NOT REQUIRE A BOARD VOTE ARE NOTED AND THE UNIVERSITY FOLLOWS NORMAL PURCHASING AND BID PROCEDURES. ADDITIONALLY, ALL EMPLOYEES RECEIVE A UNIVERSITY HANDBOOK AND SIGN AN ACKNOWLEDGMENT INDICATING SUCH RECEIPT. THE CONFLICT OF INTEREST POLICY IS LOCATED WITHIN THE STAFF HANDBOOK. LASTLY, THE ORGANIZATION MAINTAINS AN ETHICS AND COMPLIANCE HOTLINE ALONGSIDE A SYSTEM NAMED "RED FLAG REPORTING". THIS SYSTEM, OPERATED BY A LOCAL PUBLIC ACCOUNTING FIRM, ALLOWS STUDENTS AND STAFF TO REPORT ANY CONCERNS REGARDING IMPROPER ACTIVITY WITHIN THE UNIVERSITY WITH THE OPTION TO REMAIN ANONYMOUS. INTERESTED PARTIES MAY REPORT IMPROPER ACTIVITY BY CALLING 1-877-647-3335 OR VISITING REDFLAGREPORTING.COM. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENTIAL CONTRACT AND COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE PRESIDENT'S SALARY ON A YEARLY BASIS; INCLUDING BASE COMPENSATION, BONUS AND FRINGE BENEFITS. THE PRESIDENTIAL CONTRACT AND COMPENSATION COMMITTEE EVALUATES THE COMPENSATION OF THE PRESIDENT BASED ON ESTABLISHED GOALS AND DISCUSSES AND APPROVES THE NEW SALARY ON AN ANNUAL BASIS. THE UNIVERSITY AND PRESIDENT ARE BOUND BY A CONTRACT. THE CONTRACT IS NEGOTIATED AND/OR EXTENDED BY THE PRESIDENTIAL CONTRACT AND COMPENSATION COMMITTEE OF THE BOARD WITH APPROVAL OF THE FULL BOARD OF TRUSTEES. AS PART OF THE EVALUATION PROCESS USED BY THE PRESIDENTIAL CONTRACT AND COMPENSATION COMMITTEE OF THE BOARD, MARKET DATA, SALARY SURVEYS OF SIMILAR INSTITUTIONS, AND OTHER RELEVANT INFORMATION ARE REVIEWED IN CONJUNCTION WITH THE PRESIDENT'S REPORT ON ACCOMPLISHMENTS. ALL EMPLOYEES, OTHER THAN THE PRESIDENT, ARE EVALUATED BY THEIR IMMEDIATE SUPERVISOR ON AN ANNUAL BASIS. THE VICE-PRESIDENTS OF THE UNIVERSITY ARE EVALUATED BY THE PRESIDENT. THE UNIVERSITY USES CUPA DATA TO COMPARE SALARIES FOR OTHER LIKE INSTITUTIONS TO OUR COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY MAKES AVAILABLE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS TO THE GENERAL PUBLIC UPON REQUEST DURING THE REGULAR BUSINESS HOURS OF THE UNIVERSITY. THE 990 IS ALSO AVAILABLE ON GUIDESTAR FOR PUBLIC INSPECTION. HIGHLANDS COURT INC 1720 RICHMOND DRIVE LOUISVILLE KY 40205 310955903 SENIOR HOUSING KY 501(C)(3) LINE 10 0 PLAMP CHARITABLE REMAINDER UNITRUST 2001 NEWBURG ROAD LOUISVILLE KY 40205 911825400 KY T 0 GORMAN CHARITABLE REMAINDER UNITRUST 2001 NEWBURG ROAD LOUISVILLE KY 40205 911910556 KY T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0