2012-03-12T13:40:38-05:00 2011-06-30 BKD LLP 1201 Walnut Suite 1700 Kansas City MO 641062246 990 2010-07-01 480777079 Benedictine College BENE 9133675340 1020 N 2nd Street Atchison KS 66002 RONALD J OLINGER 9133675340 2012-03-15 true Michael J Engle 8162216300 2010 2016-02-24 21:20:13Z Stephen D Minnis 1020 N 2nd Street Atchison KS 66002 55573246 false 0928 X www.benedictine.edu X 1971 KS BENEDICTINE COLLEGE'S MISSION AS A CATHOLIC, BENEDICTINE, LIBERAL ARTS, RESIDENTIAL COLLEGE IS THE EDUCATION OF MEN AND WOMEN WITHIN A COMMUNITY OF FAITH AND SCHOLARSHIP. 27 27 1005 28 255459 0 12482119 9660866 36757326 40034438 616689 2919232 523215 409304 50379349 53023840 13431868 14625850 0 0 14057296 14857168 21550 48200 1269722 13510383 15120021 41021097 44651239 9358252 8372601 86836952 96291036 34214727 35374049 52622225 60916987 X SEE SCHEDULE 0 false false 37764794 14625850 40455691 SEE SCHEDULE O 37764794 true true false false false false true false true true false false false true true true false true true true false false true true false false false true true true false false false false false false false false false false true true false false false false false false false false true 1905 0 true 1005 true true true false false false false true true true 1 false false false X 27 27 true false false false false false false true true false false true true true true true true true false false X RONALD J OLINGER 9133675340 1020 N 2ND STREET ATCHISON KS 66002 Fr James Albers OSB 1.0 X 0 0 0 Larry Buessing 1.0 X 0 0 0 Shirley Chenoweth 1.0 X 0 0 0 Kevin Gray 1.0 X 0 0 0 M Darryl Jones 1.0 X 0 0 0 Lawrence S Kaminsky 1.0 X 0 0 0 Kevin E Kramer 1.0 X 0 0 0 Fr Gabriel Landis OSB 1.0 X 0 0 0 David M Laughlin 1.0 X 0 0 0 Stephen E McBride 1.0 X 0 0 0 Michael Murphy 1.0 X 0 0 0 Jack A Newman Jr 1.0 X 0 0 0 Kathleen O'Hara 1.0 X 0 0 0 S Mary Agnes Patterson OSB 1.0 X 0 0 0 Patrick J Sly 1.0 X 0 0 0 Christopher Thompson 1.0 X 0 0 0 Matthew Tynan 1.0 X 0 0 0 Carolyn Watley 1.0 X 0 0 0 Paul D Westerman 1.0 X 0 0 0 Robert S Wholey 1.0 X 0 0 0 James T O'Brien 1.0 X X 0 0 0 S Anne Shepard OSB 1.0 X X 0 0 0 Abbot Barnabas Senecal OSB 1.0 X X 0 0 0 S Mary Irene Nowell OSB 1.0 X X 0 0 0 Susan Zubradt 1.0 X 0 0 0 MICHAEL LAUSE 1.0 X 0 0 0 LENE WESTERMAN 1.0 X 0 0 0 Stephen D Minnis 40.0 X 246548 0 72865 Kimberly C Shankman 40.0 X 91721 0 23999 Ronald J Olinger 40.0 X 126565 0 14102 Kristie R Scholz 40.0 X 61547 0 4337 Kelly Vowels 40.0 X 133379 0 24312 659760 0 139615 3 false true false MERRILL LYNCH INVESTMENT SERVICE 162800 TREANOR ARCHITECTS PA ARCHITECT FIRM 298731 2 372933 94606 9193327 1726403 9660866 TUITION & FEES 611600 31118327 31118327 ROOM & BOARD 611600 8048209 8048209 STUDENT ACTIVITIES 611710 764578 764578 ATHLETIC INCOME 611710 103324 103324 40034438 540327 540327 0 52 52 4517601 2100 2139782 1014 2377819 1086 2378905 2378905 84031 372933 171710 -87679 -87679 0 295293 236900 58393 58393 PRINTING REVENUE 561439 11476 11476 CATERING SERVICES 722320 153783 153783 CONFERENCES 541900 82200 82200 191079 107401 8000 75678 438538 53023840 40200232 255459 2907283 0 14625850 14625850 0 0 679656 122557 557099 0 11093767 9154085 1257937 681745 281504 235072 27034 19398 2066611 957086 1059595 49930 735630 599734 90725 45171 0 54081 54081 77525 77525 0 48200 48200 220665 220665 2957278 2732383 110540 114355 133444 74625 58025 794 865799 488912 306279 70608 349353 66123 283223 7 0 1136944 903122 187140 46682 511589 465059 22865 23665 0 57269 52638 2636 1995 1272538 1272538 0 3701823 3053741 623906 24176 311098 246744 49372 14982 ACADEMIC SUPPORT 544624 544624 AUXILIARY EXPENSES 556936 556936 INSTRUCTION & DEPT RESEARCH 166049 166049 STUDENT SERVICES 725877 725877 GENERAL ADMINISTRATION 1393830 721039 628076 44715 83299 83299 44651239 37764794 5616723 1269722 386660 1311470 1952396 2597679 10199768 4764817 355054 450267 198890 199895 86148 170559 89374739 32715105 43054837 56659634 26431385 24386166 613648 671054 3220321 3177453 337845 1902042 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ART SCHEDULE D, PART III, LINE 4 Frederick Hart's Washington National Cathedral Collection is an impressive assemblage of sculptures that includes the bas-relief "Ex Nihilo" and the life-size castings of the biblical figures Adam, St. Peter and St. Paul. In addition to these sculptures from the National Cathedral in Washington, DC, the artist is best known for his bronze sculptures of three soldiers for the National Vietnam War Memorial. Benedictine College is the only college to have these first castings available for viewing on a daily basis. "Ex Nihilo" is on exhibit inside the Student Union and the statues of Adam, St. Peter and St. Paul are located in the heart of campus along the Raven Walk. The presence of these pieces exposes our students and our campus visitors to some truly magnificent artwork, and is another illustration of our commitment to a broad liberal arts education. ENDOWMENT FUNDS SCHEDULE D, PART V, LINE 4 THE PRIMARY PURPOSE OF THE ENDOWMENT FUNDS IS TO FUND SCHOLARSHIPS. THE ENDOWMENT FUNDS ARE ALSO USED TO FUND BUSINESS PROGRAMS AND GENERAL OPERATIONS OF THE COLLEGE. LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER FIN 48 SCHEDULE D, PART X, LINE 2 MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. RECONCILIATION OF CHANGE IN NET ASSETS SCHEDULE D, PART XI, LINE 8 INCREASE IN CSV OF LIFE INSURANCE $ 16,450 CHANGE IN PV OF SPLIT LIFE INSURANCE $ (41,550) -------------- & (25,100) RECONCILIATION OF REVENUES SCHEDULE D, PART XII, LINE 2D INCREASE IN CSV OF LIFE INSURANCE $ 16,450 BOOKSTORE COGS $ 236,900 FUNDRAISING EXPENSES $ 171,710 CHANGE IN PV OF SPLIT LIFE INSURANCE $ (41,550) -------------- $ 383,510 RECONCILIATION OF REVENUES SCHEDULE D, PART XII, LINE 4B SCHOLARSHIPS $ 14,625,850 RECONCILIATION OF EXPENSES SCHEDULE D, PART XIII, LINE 2D BOOKSTORE COGS $ 236,900 FUNDRAISING EXPENSES $ 171,710 -------------- $ 408,610 RECONCILIATION OF EXPENSES SCHEDULE D, PART XIII, LINE 4B SCHOLARSHIPS $ 14,625,850 true true true true true true true false false false false false false false false true false true SCHEDULE E, PART I, LINE 3 BENEDICTINE'S RACIALLY NONDISCRIMINATORY POLICY IS PUBLISHED IN THE COLLEGE CATALOG, WHICH EVERY STUDENT RECEIVES UPON RECEIVING NOTICE OF ACCEPTANCE. SCHEDULE E, PART I, LINE 6A BENEDICTINE RECEIVES TITLE IV FUNDS FROM THE DEPARTMENT OF EDUCATION. Europe (Including Iceland and Greenland) 1 1 Program Services Education 389787 East Asia and the Pacific 0 1 Program Services EDUCATION 62553 1 2 1 2 452340 452340 false false false true false false X X X X X X X true WILSON BENNET Fundraising false 221290 48200 173090 221290 48200 173090 All States SCHOLARSHIPBALL 399031 348466 50565 0 0 1750 58253 3727 66319 GOLFTOURNAMENT 57933 24467 33466 0 0 14913 4118 0 22630 0 456964 372933 84031 0 0 16663 62371 3727 88949 171710 -87679 true STUDENT AID / SCHOLARSHIPS 1669 14625850 PROCESS FOR MONITORING THE USE OF GRANTS IN THE U.S. SCHEDULE I, PART I, LINE 2 ALL GRANTS ARE INSTITUTIONAL FINANCIAL AID AND APPLIED DIRECTLY TO STUDENTS ACCOUNTS. IT IS A CONTINUAL PROCESS IN WHICH WE AWARD STUDENT AID WITHIN FEDERAL GUIDELINES AT THE INITIAL AWARDING TIME PERIOD. IF ANY CHANGES TO A STUDENT'S STATUS OCCUR, WE REVIEW THE STUDENT'S AID PACKAGE COMPONENTS TO ENSURE THAT ANY/ALL ADJUSTMENTS MADE MAINTAIN COMPLIANCE WITH TITLE IV FUND RULES. WE ALSO PERFORM SPOT CHECKS THROUGHOUT THE SEMESTER TO DOUBLE CHECK THAT AID ELIGIBILITY CALCULATIONS ARE MET. X true true X X X X X false false false false false false false false false Stephen D Minnis 177900 0 50000 0 18648 0 11400 0 61465 0 319413 0 0 0 Kelly Vowels 102655 0 30000 0 724 0 5557 0 18755 0 157691 0 0 0 HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE SCHEDULE J, PART I, LINE 1A BENEDICTINE COLLEGE PROVIDES HOUSING TO STEPHEN D MINNIS. THE FMV OF THE HOUSING IS NOT INCLUDED IN HIS W-2 BECAUSE IT QUALIFIES AS A NON TAXABLE BENEFIT UNDER CODE SECTION 119. KANSAS INDEPENDENT COLLEGE FINANCE 481233911 48526HLA2 2004-12-28 6981013 SEE SCHEDULE O false false false ATCHISON COUNTY KANSAS 486025049 046597BC3 2007-12-27 4824916 SEE SCHEDULE O false false false ATCHISON COUNTY KANSAS 486025049 046617AX4 2008-01-23 5232252 SEE SCHEDULE O false false false KANSAS INDEPENDENT COLLEGE FINANCE AUTHORITY 481233911 48526HVB9 2010-05-18 10785000 SEE SCHEDULE O false false false 0 0 7063028 345115 254786 0 77908 0 0 6370336 0 823 2006 false false true true 0 0 4859596 169411 137583 0 96000 0 0 4453324 0 0 2008 false false true true 0 0 5279087 181708 128284 0 104000 0 0 4861689 0 0 2009 false false true true 0 0 10785000 713304 20596 0 210600 0 0 3648947 0 178439 2010 true false false true false true false false true 0.00000 0.00590 0.00590 true false true false false true 0.00000 0.00640 0.00640 true false true false false true 0.00000 0.00730 0.00730 true false true true false true 0.00000 0.00840 0.00840 true false false false false true false false false false false false false false false false false false false false false false false false false true X 1 1660200 FMV X 12 66203 FMV 1 false true true NUMBER OF CONTRIBUTIONS SCHEDULE M, PART I, COLUMN B THE NUMBER IN COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTIONS DURING THE YEAR. Noncash Contributions Schedule M, Part I, Question 32b Publicly traded stock gifts are transferred to a broker and sold as soon as possible with oversight by the Controller. ORGANIZATION'S MISSION FORM 990, PART III, LINE 1 BENEDICTINE COLLEGE IS A CATHOLIC, BENEDICTINE, LIBERAL ARTS, RESIDENTIAL COLLEGE. OUR MISSION IS TO EDUCATE MEN AND WOMEN WITHIN A COMMUNITY OF FAITH AND SCHOLARSHIP. BUILDING A GREAT CATHOLIC COLLEGE REQUIRES A COMMUNITY-WIDE COMMITMENT TO EXCELLENCE. WE DEDICATE OURSELVES TO EDUCATING STUDENTS TO BECOME LEADERS IN THE BENEDICTINE TRADITION, WHO WILL TRANSFORM THE WORLD THROUGH THEIR COMMITMENT TO INTELLECTUAL, PERSONAL, SPIRITUAL GREATNESS. IN 2009, THE SCHOOL CELEBRATED ITS SESQUICENTENNIAL. WHILE THE SCHOOL HAS COME A LONG WAY IN ITS 150-YEAR HISTORY, THE PERMANENT THINGS-FAITH, SCHOLARSHIP, COMMUNITY-HAVE ENDURED. PROGRAM SERVICE ACCOMPLISHMENTS FORM 990, PART III, LINE 4A BENEDICTINE COLLEGE IS A CATHOLIC, BENEDICTINE, LIBERAL ARTS, RESIDENTIAL COLLEGE WITH A MISSION TO EDUCATE MEN AND WOMEN WITHIN A COMMUNITY OF FAITH AND SCHOLARSHIP. WE HAVE A VISION TO BUILD ONE OF THE GREAT CATHOLIC COLLEGES IN AMERICA, AND ATTAINING THAT VISION REQUIRES A COMMUNITY-WIDE COMMITMENT TO EXCELLENCE. WE DEDICATE OURSELVES TO EDUCATING STUDENTS TO BECOME LEADERS IN THE BENEDICTINE TRADITION, WHO WILL TRANSFORM THE WORLD THROUGH THEIR COMMITMENT TO INTELLECTUAL, PERSONAL AND SPIRITUAL GREATNESS. IN 2009, THE COLLEGE CELEBRATED ITS SESQUICENTENNIAL, ACKNOWLEDGING ITS ONGOING COMMITMENT TO COMMUNITY, FAITH AND SCHOLARSHIP. WITH OVER 150 YEARS OF TRADITION, BENEDICTINE COLLEGE IS DEVOTED TO THE DEVELOPMENT OF THE INDIVIDUAL WITHIN A COMMUNITY. THE COLLEGE PROVIDES OUR STUDENTS WITH THE PRINCIPLES, KNOWLEDGE, AND SKILLS FOR A LIFE OF LEARNING, LEADERSHIP AND SERVICE. BENEDICTINE COLLEGE IS LOCATED IN ATCHISON, KANSAS, ON A 120-ACRE CAMPUS OVERLOOKING THE MISSOURI RIVER, ABOUT 50 MILES NORTH OF KANSAS CITY, MISSOURI. THERE IS A SATELLITE CAMPUS IN ROELAND PARK, KANSAS, AND A PARTNERSHIP WITH THE KANSAS CITY POLICE DEPARTMENT TO TEACH GRADUATE COURSES AT THE REGIONAL POLICE ACADEMY. THE COLLEGE ALSO HAS AN INTERNATIONAL CAMPUS IN FLORENCE, ITALY. FOR THE CURRENT ACADEMIC YEAR (2011-12), BENEDICTINE COLLEGE IS BLESSED TO HAVE THE LARGEST FULL-TIME UNDERGRADUATE STUDENT BODY IN ITS HISTORY, WITH MORE THAN 1,600 STUDENTS, NEARLY TRIPLING BENEDICTINE COLLEGE'S ENROLLMENT FROM 20 YEARS AGO. A RECORD 275 HIGH SCHOOL STUDENTS PARTICIPATED IN THE 2011 PRESIDENTIAL SCHOLARSHIP COMPETITION AND THE FRESHMAN CLASS ENTERING IN 2011 WAS NOT ONLY THE LARGEST IN SCHOOL HISTORY, BUT ALSO HAS THE HIGHEST AVERAGE ACT SCORE IN SCHOOL HISTORY. IT IS OBVIOUS THAT BENEDICTINE COLLEGE IS ATTRACTING BOTH MORE STUDENTS AS WELL AS THE BEST AND THE BRIGHTEST. NEARLY 80% OF UNDERGRADUATE STUDENTS LIVE ON CAMPUS IN ACCORDANCE WITH THE COLLEGE'S STRONG RESIDENTIAL TRADITION. TO KEEP UP WITH ITS GROWTH, BENEDICTINE COLLEGE HAS OPENED EIGHT NEW RESIDENCE HALLS SINCE THE YEAR 2000. NATIONAL SURVEYS PLACE BENEDICTINE'S STUDENT LIFE PROGRAM HIGHEST IN OVERALL RESIDENT SATISFACTION AND BENEDICTINE COLLEGE'S RETENTION RATE IS CONSISTENTLY ABOVE 90%. IN THE SUMMER OF 2010, THE COLLEGE BEGAN BUILDING A NEW ACADEMIC CENTER WHICH WILL PROVIDE AN ADDITIONAL 57,000 SQUARE FEET OF MUCH-NEEDED SPACE FOR CLASSES, FACULTY AND PROGRAMS. FACULTY AND STAFF WILL MOVE INTO THIS NEW, LEED-CERTIFIED BUILDING IN MARCH 2012. STUDENTS WILL BEGIN CLASSES IN THE FACILITY FOLLOWING SPRING BREAK 2012. IN ATHLETICS, THE PAST ACADEMIC YEAR SAW HEAD FOOTBALL COACH LARRY WILCOX BECOME KANSAS' ALL TIME WINNINGEST FOUR YEAR COLLEGE COACH. OUR ATHLETES HAVE EXCELLED ON THE FIELD AS WELL AS OFF, WITH SEVEN VARSITY SPORTS TEAMS RECEIVING NAIA SCHOLAR TEAM RECOGNITION, BENEDICTINE COLLEGE STUDENT ATHLETES AVERAGING HIGHER THAN A 3.0 GPA, AND THE NATIONAL SOCCER COACHES ASSOCIATION OF AMERICA AWARDING THE WOMEN'S SOCCER PROGRAM THE TEAM ACADEMIC AWARD, NAMING FOUR PLAYERS TO THE ACADEMIC ALL-REGION LIST. IN THE AREA OF ACADEMIC EXCELLENCE, BENEDICTINE IS NOW ONE OF THE FEW CATHOLIC COLLEGES IN THE NATION OFFERING ABET-ACCREDITED PROGRAMS IN CHEMICAL, CIVIL, ELECTRICAL, AND MECHANICAL ENGINEERING. ALSO, SEVERAL NEW MAJORS HAVE BEEN ADDED IN RECENT YEARS, INCLUDING ART, CRIMINOLOGY, ENGINEERING PHYSICS, FINANCE, GENERAL ENGINEERING, INTERNATIONAL BUSINESS, INTERNATIONAL STUDIES, AND NURSING. THIS YEAR, 25 OF OUR PROFESSORS WERE RANKED IN THE TOP 10% OF THE NATIONAL IDEA FACULTY EVALUATIONS. FOR THE FIFTH YEAR, BENEDICTINE COLLEGE WAS NAMED ONE OF AMERICA'S BEST COLLEGES BY "U.S. NEWS & WORLD REPORT," APPEARING AS A TOP-TIER SCHOOL IN THE MIDWEST - MASTERS CATEGORY. IN ADDITION, THE CARDINAL NEWMAN SOCIETY NAMED BENEDICTINE COLLEGE ONE OF THE TOP CATHOLIC COLLEGES IN THE UNITED STATES IN ITS PUBLICATION, "THE NEWMAN GUIDE TO CHOOSING A CATHOLIC COLLEGE." AFTER AN EXTENSIVE NATIONAL STUDY, "FIRST THINGS" MAGAZINE ALSO NAMED BENEDICTINE COLLEGE TO ITS TOP 20. THE SCHOOL IS RANKED NUMBER 18 IN THE NATION BY THEIR RESEARCH, WHICH INCLUDED MORE THAN 2,000 COLLEGES AND UNIVERSITIES, FROM AMERICAN UNIVERSITY TO YALE. THE STUDY ALSO RANKED BENEDICTINE COLLEGE AMONG THE TOP 5 CATHOLIC COLLEGES IN THE COUNTRY. THE COLLEGE ALSO LAUNCHED AN HONORS PROGRAM, A GREGORIAN FELLOWS PROGRAM, AND THE GREGORIAN SPEECH DIGEST. THIS YEAR, A NEW INSTITUTE FOR MISSIONARY ACTIVITY WAS DEVELOPED AND THAT WILL BE AVAILABLE TO FRESHMEN ENTERING IN THE FALL OF 2012. THE MINISTRY PROGRAM IS NATIONALLY RECOGNIZED, THE STUDENT LIFE PROGRAM HAS BECOME A MODEL FOR OTHER COLLEGES AND UNIVERSITIES, ATHLETIC PROGRAMS, INCLUDING THE ADDITION OF A NEW WRESTLING PROGRAM, ARE HIGH ACHIEVING IN EVERY ASPECT. BENEDICTINE COLLEGE IS CONSISTENTLY GAINING IN IMAGE AND AWARENESS. IT HAS AVERAGED 6% GROWTH IN ENROLLMENT EACH YEAR FOR THE PAST 12 YEARS. THE CAMPUS HAS BEEN TRANSFORMED, WITH NEW RESIDENCE FACILITIES AND NOW A FABULOUS NEW SIGNATURE ACADEMIC BUILDING NEARING COMPLETION. IN ADDITION, A SPECIALLY-COMMISSIONED STATUE OF ST. BENEDICT NOW WELCOMES VISITORS TO CAMPUS OUTSIDE THE HAVERTY CENTER. THE BENEDICTINE MONKS AND SISTERS WHO BRAVED THE AMERICAN FRONTIER OF THE MIDDLE 1800s WOULD BE PROUD TO SEE THE INSTITUTION THAT STILL REPRESENTS THEIR VISION OF COMMUNITY, FAITH AND SCHOLARSHIP IN SUCH AN OUSTANDING WAY. FAMILY RELATIONSHIPS FORM 990, PART VI, SECTION A, LINE 2 LENE WESTERMAN AND PAUL WESTERMAN HAVE A FAMILY RELATIONSHIP. FORM 990 REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11B AN INDEPENDENT ACCOUNTING FIRM PREPARES AND REVIEWS THE 990. THE 990 IS THEN REVIEWED BY THE ORGANIZATION'S OFFICERS AND ACCOUNTING PERSONNEL. ANY QUESTIONS OR CONCERNS THE ORGANIZATION'S OFFICERS AND ACCOUNTING PERSONNEL HAVE ARE ADDRESSED AND ANY CORRECTIONS OR CLARIFICATIONS THAT NEED TO BE MADE ARE MADE. THE 990 IS THEN PROVIDED TO THE FINANCE COMMITTEE OF THE BOARD FOR REVIEW AND THEN THE FINAL 990 IS PROVIDED TO THE FULL BOARD. CONFLICT OF INTEREST POLICY FORM 990, PART VI, SECTION B, LINE 12C AT THE TIME OF HIRE OR ELECTION (IN THE CASE OF DIRECTORS) AND ANNUALLY THEREAFTER, THE OFFICERS, DIRECTORS, AND KEY EMPLOYEES SHALL PROVIDE THE APPLICABLE CONFLICT OF INTEREST DISCLOSURES WHICH SHALL BE COMPLETED TO IDENTIFY ANY RELATIONSHIPS, POSITIONS, OR CIRCUMSTANCES IN WHICH IT IS BELIEVED A CONFLICT MAY ARISE. IF A CONFLICT ARISES, THE OFFICER, DIRECTOR, OR KEY EMPLOYEE ABSTAINS FROM THE VOTE OF THE CONFLICTED POSITION. AN APPROPRIATE REPORT SHALL BE SUBMITTED TO THE EXECUTIVE BOARD CONCERNING ANY INTEREST DISCLOSED. COMPENSATION REVIEW FORM 990, PART VI, SECTION B, LINES 15A & B LINE 15A - THE ORGANIZATION'S PROCESS FOR DETERMINING CEO COMPENSATION BEGINS WITH AN INITIATIVE LEAD BY THE CHAIRMAN OF THE GOVERNING BOARD. THE CHAIRMAN COMPARES COMPENSATION AND SALARY DATA WITH OTHER ORGANIZATIONS OF A SIMILAR SIZE AND INDUSTRY. THE CHAIRMAN REVIEWS THE DATA AND MAKES A RECOMMENDATION TO THE BOARD OF DIRECTORS IN A CLOSED EXECUTIVE COMMITTEE MEETING WHERE THE COMPENSATION IS THEN VOTED UPON. LINE 15B - THE CEO CONDUCTS AN ANNUAL REVIEW OF OTHER OFFICER AND KEY EMPLOYEES COMPENSATION BASED ON COMPARABLE SALARY DATA OF OTHER ORGANIZATIONS OF SIMILAR SIZE AND INDUSTRY. AVAILABILITY OF DOCUMENTS FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 5 UNREALIZED LOSS ON INVESTMENTS $ (52,739) INCREASE IN CSV OF LIFE INSURANCE $ 16,450 CHANGE IN PV OF SPLIT LIFE INSURANCE $ (41,550) -------------- & (77,839) BOND ISSUE PURPOSE AND PROCEEDS SCHEDULE K, PART I AND PART II PART I - BOND ISSUES BOND ISSUE (A), COLUMN (F). CONSTRUCTING, IMPROVING AND EQUIPPING EDUCATIONAL FACILITIES. BOND ISSUE (B), COLUMN (F). CONSTRUCTING, IMPROVING AND EQUIPPING EDUCATIONAL FACILITIES. BOND ISSUE (C), COLUMN (F). CONSTRUCTING, IMPROVING AND EQUIPPING EDUCATIONAL FACILITIES. BOND ISSUE (D), COLUMN (F). CONSTRUCTING, IMPROVING AND EQUIPPING EDUCATIONAL FACILITIES; REFUND 2003 BONDS (ORIGINALLY ISSUED ON 3-31-2003). PART II - PROCEEDS COLUMN A, LINE 4: THERE WAS APPROXIMATELY $823 OF EARNINGS DEPOSITED INTO THE PROJECT FUND AFTER THE END OF THE "PROJECT PERIOD." HOWEVER, THIS AMOUNT WAS INCLUDED IN THE "TOTAL PROCEEDS OF ISSUE" REPORTED ON LINE 1 AND REPORTED AS "UNSPENT PROCEEDS." SUBSEQUENT TO THE FISCAL YEAR END THIS AMOUNT WAS USED TO PAY PROJECT EXPENDITURES.