2012-05-14T14:33:55-05:00 2011-06-30 PLANTE & MORAN PLLC PO BOX 307 SOUTHFIELD MI 480370307 990 2010-07-01 382015048 CRANBROOK EDUCATIONAL COMMUNITY CRAN 2486453000 PO BOX 801 BLOOMFIELD HILLS MI 483030801 DOMINIC DIMARCO 2486453000 2012-05-09 1 2483522500 2010 2016-02-24 21:20:13Z FREDERICK NAHM PO BOX 801 BLOOMFIELD HILLS MI 483030801 249902696 0 X WWW.CRANBROOK.EDU X 1973 MI CRANBROOK PROVIDES EXCELLENT EDUCATIONAL PROGRAMS SERVING DIVERSE AUDIENCES IN AN ENVIRONMENT THAT INSPIRES CREATIVITY, EXPERIMENTATION AND LEARNING. 28 27 1115 172 0 -107545 7341697 12130387 46552666 49058987 -1816573 10206393 2401104 1981343 54478894 73377110 8326925 8481843 0 0 37136960 38863220 0 0 1873882 32175795 25213545 77639680 72558608 -23160786 818502 424095485 443698413 124081905 117278824 300013580 326419589 X CRANBROOK PROVIDES EXCELLENT EDUCATIONAL PROGRAMS SERVING DIVERSE AUDIENCES IN AN ENVIRONMENT THAT INSPIRES CREATIVITY, EXPERIMENTATION AND LEARNING. 0 0 47836823 7320467 43071124 CRANBROOK SCHOOLS IS AN EDUCATIONAL INSTITUTION WITH FALL 2010 ENROLLMENT OF 1,655 STUDENTS IN K-12TH GRADE. INCLUDED IN THE COST OF OPERATION ARE DORMITORIES, DINING HALLS AND SUMMER PROGRAMS. 7260951 1161376 4980106 CRANBROOK ACADEMY OF ART IS A GRADUATE SCHOOL OF FINE ARTS AND ARCHITECTURE WITH FALL 2010 ENROLLMENT OF 163 STUDENTS. 3789461 1007757 CRANBROOK INSTITUTE OF SCIENCE IS A NATURAL SCIENCE MUSEUM OPEN TO THE PUBLIC WHICH HAD APPROXIMATELY 203,355 VISITORS IN FISCAL YEAR 2010/2011. 5133821 0 0 CRANBROOK HOUSE AND GARDENS AUXILIARY - FUNDS ARE RAISED AND EXPENDED FOR THE PRESERVATION OF CRANBROOK HOUSE AND GARDENS, A NATIONAL HISTORIC LANDMARK, AS WELL AS TOURS AND EDUCATIONAL PROGRAMS. 5133821 64021056 1 1 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 353 1 1 1115 1 1 1 0 0 0 0 1 1 0 0 0 0 X 28 27 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X PAM RUTHVENCFO 2486453110 PO BOX 801 BLOOMFIELD HILLS MI 483030801 ADELE ACHESON 1.00 X 0 0 0 MICHAEL H ACHESON 1.00 X 0 0 0 FREDERICK BLACKMON 1.00 X 0 0 0 JONATHAN BORENSTEIN 1.00 X 0 0 0 LYNDA CHARFOOS 1.00 X 0 0 0 DENISE A DAVID 1.00 X 0 0 0 JOHN M ERB 1.00 X 0 0 0 JAMISON FALISKI 1.00 X 0 0 0 VIRGINIA B FOX 1.00 X 0 0 0 MAXINE FRANKEL 1.00 X 0 0 0 ERICA WARD GERSON 1.00 X 0 0 0 LINDA H GILLUM 1.00 X 0 0 0 WILLIAM KM GOLDSMITH 1.00 X 0 0 0 RALPH A GRAHAM 1.00 X 0 0 0 EDWARD HAGENLOCKER 1.00 X 0 0 0 JEFFREY A HARRIS 1.00 X 0 0 0 ARNOLD JACOB 1.00 X 0 0 0 LISA PAYNE 1.00 X 0 0 0 BRUCE D PETERSON 1.00 X 0 0 0 STEPHEN R POLK 1.00 X 0 0 0 LLOYD E REUSS 1.00 X 0 0 0 WARREN ROSE 1.00 X 0 0 0 ALLAN ROTHFEDER 1.00 X 0 0 0 ROBERT S TAUBMAN 1.00 X 0 0 0 JAMES J VLASIC 8.00 X 0 0 0 RICHARD E WARREN 1.00 X 0 0 0 GARY L WASSERMAN 1.00 X 0 0 0 TOD WILLIAMS 1.00 X 0 0 0 MARK REUSS 1.00 X 0 0 0 FREDERICK NAHM 55.00 X 413628 0 36423 PATRICIA CARI 55.00 X 86825 0 27505 DOMINIC DIMARCO 55.00 X 254138 0 14887 ARLYCE SEIBERT 55.00 X 261301 0 36697 REED KROLOFF 55.00 X 221811 0 25609 MICHAEL STAFFORD 55.00 X 161778 0 27711 MICHAEL HILLIARD 55.00 X 246619 0 21805 PAMELA RUTHVEN 55.00 X 193245 0 11050 MARSHA GILMAN 55.00 X 153116 0 12723 ANDREW MILLER 55.00 X 145133 0 30011 BRIAN SCHILLER 55.00 X 138531 0 27997 2276125 0 272418 25 0 1 0 FRANK REWOLD & SONS INC 333 E SECOND ST ROCHESTER MI 48307 CONSTRUCTION 12945429 CHARTWELLS PO BOX 91337 CHICAGO IL 60693 FOOD SERVICE 3651593 TEACHER'S INS AND ANNUITY PO BOX 8500 PHILADELPHIA PA 19178 PENSION 2775967 GOLDMAN SACHS & CO 85 BROAD STREET NEW YORK NY 10087 INVESTMENT 2590951 ROBERT REIBITZ BUILDING 6945 DANDISON BLVD WEST BLOOMFIELD MI 48324 BUILDER 493839 8 564494 607726 10958167 1195344 12130387 CRANBROOK SCHOOLS K-12 900099 42027217 42027217 ART ACADEMY TUITION & 900099 4746675 4746675 SUMMER PROGRAMS 900099 1277338 1277338 INSTITUTE OF SCIENCE A 611600 1007757 1007757 49058987 3955833 3955833 1105620 1118214 -12594 -12594 -12594 180230907 31968 174000315 12000 6230592 19968 6250560 6250560 1417007 564494 1078585 338422 338422 54444 36837 17607 17607 621016 279635 341381 341381 FINANCE CHARGES 900099 275815 275815 SETTLEMENTS 900099 171840 171840 AUXILIARY 900099 55315 55315 793557 793557 1296527 73377110 49058987 0 12187736 8481843 8481843 1495280 656419 838861 28024546 20934395 5784629 1305522 1745150 1255532 400759 88859 5512088 3774962 1497062 240064 2086156 1554429 442504 89223 397054 32124 364930 181149 181149 22525 22525 1759898 789112 905072 65714 691567 372301 10168 309098 2855672 2136294 591347 128031 300336 44181 255780 375 4119935 2452099 1667084 752 597208 527130 18965 51113 185778 173707 7451 4620 1605135 1605135 7866752 7024149 842603 740516 7425 732781 310 FOOD SERVICE SCHOOLS 3705755 3560766 61430 83559 DONATION/AWARD/MEMORIAL 84692 78442 6250 0 MEMBERSHIP DUES 62119 54285 3116 4718 ALLOCATION OF SERVICES 0 9863455 -9671810 -191645 BAD DEBT EXP.(RECOVERY) -523340 242859 0 -766199 560794 5147 95879 459768 72558608 64021056 6663670 1873882 40479 40446 6801487 2329191 20698727 12237598 1086721 2615168 854295 785390 2444433 1592865 283207773 90937426 185997959 192270347 103870625 124583412 100574039 105667875 1726720 1576121 424095485 443698413 23822042 15781999 15384579 15470148 83815000 85330000 1060284 696677 124081905 117278824 X 211437021 231896876 36120685 40394873 52455874 54127840 300013580 326419589 424095485 443698413 X 818502 25587507 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 1 181178000 9692086 32183200 7133290 144606 215775390 168388552 2095228 20073157 10051800 -672863 181178000 236966944 5676615 -54883285 15322603 4049119 168388552 0.65000 0.23000 0.12000 0 0 7869942 7869942 80142454 31100924 49041530 152252291 40866942 111385349 15934485 14901550 1032935 27008601 4068010 22940591 192270347 WEATHERLOW HEDGE FUNDS 21998364 F PAUL CAPITAL PROGRAMS 2851948 F CF DISTRESSED DEBT 1530197 F CF GLOBAL DISTRESSED DEBT 3958086 F ENDOWMENT ENERGY PARTNERS III 759363 F ENDOWMENT ENERGY PARTNERS IV 3777236 F ENDOWMENT VENTURE PARTNERS I-IV, VII, VIII 4115486 F ENDOWMENT EQUITY PARTNERS I-II, IV-V 2911097 F INTERNATIONAL PRIVATE EQUITY PARTNERS VI 1568108 F RCP GRADUATE FUND 790552 F CORSAIR III 3604786 F CAPITAL INTERNATIONAL PARTNERS IV 1913208 F CAPITAL INTERNATIONAL PARTNERS V 5118816 F RCP FUND II 3778393 F RCP FUND III 3769969 F CHARLES BANK 2664839 F HRJ CAPITAL VC VI LP 804017 F HRJ CAPITAL VC VI (INTERNATIONAL) 1672982 F DILLON (SILVER CREEK LOW VOLUME) 13168023 F ENDOWMENT INTERNATIONAL EQUITY PARTNERS 805428 F ENDOWMENT PRIVATE EQUITY PARTNERS III 1298262 F NATURAL RESOURCES PARTNERS VIII 880326 F HRJ CAPITAL VC V (FOREIGN) 513376 F HRJ CAPITAL VC V 1664054 F HRJ GLOBAL REAL ESTATE III 1237789 F ELLIOTT 7958850 F CAYMAN III 3404678 F PINNACLE NATURAL RESOURCES 1837811 F CHARLES BANK VII 251366 F ETON PARK 5060465 F 105667875 CAPITAL LEASES PAYABLE - CURRENT 268627 CAPITAL LEASES PAYABLE 428050 696677 73377110 72558608 818502 26377177 -789670 25587507 26406009 101477888 26377177 2513271 28890448 72587440 789670 789670 73377110 75071879 2513271 2513271 72558608 0 72558608 PART III, LINE 1A: IN ACCORDANCE WITH GENERALLY ACCEPTED PRACTICES OF SIMILAR INSTITUTIONS, ARCHIVAL ITEMS AND COLLECTIONS PURCHASED AND DONATED ARE NOT RECORDED IN THE STATEMENT OF FINANCIAL POSITION. PART III, LINE 4: AS THE COMMUNITY'S OFFICIAL ARCHIVAL REPOSITORY, THE ARCHIVES DEPARTMENT COLLECTS, PRESERVES, AND MAKES AVAILABLE COMMUNITY AND DIVISIONAL RECORDS OF PERMANENT VALUE, THE PAPERS OF MEMBERS OF THE BOOTH, SCRIPPS, AND SAARINEN FAMILIES, THE RECORDS OF THE CHRIST CHURCH CRANBROOK AND OTHER ANCILLARY ORGANIZATIONS, AND THE PERSONAL PAPERS OF FACULTY, STAFF, ALUMNI AND OTHER INDIVIDUALS WHO HAVE BEEN ASSOCIATED WITH THE COMMUNITY SINCE 1904. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY CEC AND HAS CONCLUDED THAT AS OF JUNE 30, 2011 AND 2010, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. CEC IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE CURRENTLY ARE NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES CEC IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2007. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 1,118,214. DIRECT EXPENSES - FUNDRAISING 1,078,585. DIRECT EXPENSES - GAMING 36,837. COST OF SALES 279,635. PART XIII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 1,118,214. DIRECT EXPENSES - FUNDRAISING 1,078,585. DIRECT EXPENSES - GAMING 36,837. COST OF SALES 279,635. 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 POLICY IS PRINTED ON ALL ADMISSION MATERIAL AND ALSO PRINTED ON OUR ADVERTISEMENT EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 CRANBROOK RECEIVES GRANTS FROM FEDERAL AND STATE GOVERNMENTAL AGENCIES. KALEIDOSCOPE 495656 238260 257396 10602 3694 74478 4321 43854 SCRIP 673383 673383 586606 20 812462 326234 486228 2166 53991 86752 13652 198469 1981501 564494 1417007 12768 57685 161230 17973 828929 1078585 338422 54444 36524 313 1 0.75000 54444 36524 313 36837 17607 MI 1 0 1 0 1.00000 RITA STEDMAN PO BOX 801 BLOOMFIELD HILLS MI 483030801 0 RITA STEDMAN RECORDKEEPING X 0 1 FINANCIAL AID NEED BASED - CAA 128 1006500 MERIT-BASED INSTITUTIONAL - CAA 49 154876 MERIT-BASED INSTITUTIONAL - SCHOOLS 41 454950 FINANCIAL AID NEED BASED - CRANBROOK SCHOOLS 402 5753567 TUITION REMISSION 53 1111950 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: TO RECEIVE GRANTS AND OTHER ASSISTANCE FROM CRANBROOK EDUCATIONAL COMMUNITY ALL CANDIDATES MUST DEMONSTRATE FINANCIAL NEED TO THE FINANCIAL AID COMMITTEE BASED ON AN ANALYSIS OF THE REQUIRED DOCUMENTATION. THE REQUIRED DOCUMENTATION IS (1) PARENTS' FINANCIAL STATEMENT (PFS) COMPLETED THROUGH WWW.NAIS.ORG, (2) INCOME VERIFICATION BY CURRENT W-2'S, END OF YEAR PAY STUBS, EMPLOYER LETTER VERIFYING INCOME, (3) SIGNED COPY OF IRS FORM 4506, (4) SIGNED COPY OF CURRENT YEAR FEDERAL TAX RETURN INCLUDING ALL SCHEDULES, (5) FINANCIAL AID APPLICATION SUBMITTED TO THE SCHOOL. AID PACKAGES ARE REVIEWED ANNUALLY ON THE BASIS OF THE FAMILY'S CURRENT FINANCIAL STATUS. AID AT CRANBROOK SCHOOLS IS DISTRIBUTED WITHOUT REGARD TO RACE, RELIGION OR ETHNIC BACKGROUND. ALL RECIPIENTS ARE EXPECTED TO DEMONSTRATE DILIGENCE IN THEIR ACADEMIC SUBJECTS, MAINTAIN ACCEPTABLE CITIZENSHIP STANDARDS, AND CONTRIBUTE POSITIVELY TO THE SCHOOL COMMUNITY. REQUIRED DOCUMENTATION FOR CRANBROOK ART ACADEMY IS A TIMELY FILED FAFSA THROUGH THE GOVERNMENT, AFTER COMPLETION A SAR IS RECEIVED ELECTRONICALLY AT THE SCHOOL. ALSO, A COPY OF A SIGNED FEDERAL TAX RETURN IS REQUIRED. ASSISTANCE IS BASED UPON THE APPLICANT'S TIMELY APPLICATION AND DEMONSTRATED FINANCIAL NEED. ALL ASSISTANCE IS DETERMINED THROUGH THE REGISTER'S OFFICE AT THE ART ACADEMY. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 FREDERICK NAHM 365628 0 0 0 48000 0 18560 0 17863 0 450051 0 0 0 DOMINIC DIMARCO 254138 0 0 0 0 0 12048 0 2839 0 269025 0 0 0 ARLYCE SEIBERT 261301 0 0 0 0 0 18834 0 17863 0 297998 0 0 0 REED KROLOFF 221811 0 0 0 0 0 17157 0 8452 0 247420 0 0 0 MICHAEL STAFFORD 161778 0 0 0 0 0 6723 0 20988 0 189489 0 0 0 MICHAEL HILLIARD 246619 0 0 0 0 0 18982 0 2823 0 268424 0 0 0 PAMELA RUTHVEN 193245 0 0 0 0 0 9048 0 2002 0 204295 0 0 0 MARSHA GILMAN 153116 0 0 0 0 0 11350 0 1373 0 165839 0 0 0 ANDREW MILLER 116573 0 0 0 28560 0 9216 0 20795 0 175144 0 0 0 BRIAN SCHILLER 138531 0 0 0 0 0 10791 0 17206 0 166528 0 0 0 PART I, LINE 1A THE PRESIDENT RECEIVES A HOUSING ALLOWANCE AS HE IS REQUIRED TO LIVE IN THE CITY OF BLOOMFIELD HILLS. THE DIRECTOR OF THE ART ACADEMY AND THE DIRECTOR OF SCHOOLS ARE PROVIDED A HOUSE ON CAMPUS AS RESIDENCY IS A REQUIREMENT OF THEIR POSITIONS. THE PRESIDENT'S HOUSING ALLOWANCE IS APPROPRIATELY INCLUDED IN HIS FORM W-2. ECONOMIC DEVELOPMENT CORP OF OAKLAND COUNTY 383442443 672523GN1 2009-10-15 18599313 SEE SCHEDULE O 0 0 0 ECONOMIC DEVELOPMENT CORP OF OAKLAND COUNTY 383442443 672523GD3 2007-11-01 46390000 SEE SCHEDULE O 0 0 0 ECONOMIC DEVELOPMENT CORP OF OAKLAND COUNTY 383442443 2010-10-01 26515000 SEE SCHEDULE O 0 0 0 18599313 370346 18228967 2009 0 1 1 1 46390000 970649 436000 38780184 2009 0 1 1 1 26515000 101443 199000 24898557 1316000 2011 0 0 1 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 0 0 0 0 0 0 1 1 GOLDMAN SACHS MITS 30.000000000000 0 0 1 ROYAL BANK OF CANADA 12.000000000000 1 0 0 0 1 1 GOLDMAN SACHS MITS 30.000000000000 0 0 0 0 0 DTE ENERGY BRUCE PETERSON, TRUSTEE, IS AN OFFICER OF DTE ENERGY 1090061 ELECTRIC SERVICE 0 X 12 66943 APPRAISAL X 995 COST X 19816 COST X 39 724932 AVG MARKET VALUATION X 3 998 COST X 6 93748 COST X AUCTION ITEMS 564 200165 COST X DONATIONS FOR FUNDRAISERS 212 66476 COST X FURNITURE 1 6000 COST X MUSICAL INSTRUMENT 5 4626 APPRAISAL 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 ADELE ACHESON AND MICHAEL ACHESON, BOTH TRUSTEES OF THE ORGANIZATION, HAVE A FAMILY RELATIONSHIP WITH ONE ANOTHER. ROBERT TAUBMAN AND LISA PAYNE, BOTH TRUSTEES OF THE ORGANIZATION, HAVE A BUSINESS RELATIONSHIP WITH ONE ANOTHER. LLOYD REUSS AND MARK REUSS, BOTH TRUSTEES OF THE ORGANIZATION, HAVE A FAMILY RELATIONSHIP WITH ONE ANOTHER. FORM 990, PART VI, SECTION A, LINE 6 CRANBROOK EDUCATIONAL COMMUNITY HAS THREE DIVISIONS OF THE ORGANIZATION, CRANBROOK SCHOOLS, CRANBROOK ART ACADEMY AND CRANBROOK INSTITUTE OF SCIENCE, WHICH EACH HAVE A BOARD OF GOVERNORS. THESE BOARD OF GOVERNORS ARE THE MEMBERS OF THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7A UP TO SIX TRUSTEES OF CRANBROOK EDUCATIONAL COMMUNITY SHALL BE ELECTED BY THE CRANBROOK SCHOOLS MEMBERS, UP TO FOUR TRUSTEES SHALL BE ELECTED BY THE CRANBROOK ART MEMBERS AND UP TO FOUR TRUSTEES SHALL BE ELECTED BY THE CRANBROOK SCIENCE MEMBERS, NONE OF WHICH TRUSTEES NEED TO BE MEMBERS OF THE ORGANIZATION OR ITS THREE DIVISIONS. THE CHAIRMAN OF THE BOARD OF GOVERNORS OF CRANBROOK SCHOOLS, THE CHAIRMAN OF THE BOARD OF GOVERNORS OF THE CRANBROOK ART ACADEMY, AND THE CHAIRMAN OF THE BOARD OF GOVERNORS OF THE CRANBROOK INSTITUTE OF SCIENCE, AS ELECTED BY THE RESPECTIVE BOARDS OF GOVERNORS FROM TIME TO TIME PURSUANT TO THE ORGANIZATION'S BYLAWS, SHALL ALL BE EX OFFICIO MEMBERS OF THE BOARD OF TRUSTEES WITH FULL VOTING AND OTHER RIGHTS, FOR SO LONG AS EACH OF THEM REMAINS CHAIRMAN, AND SHALL THEREAFTER BE REPLACED AS TRUSTEES BY THEIR SUCCESSORS IN SUCH CHAIRMANSHIP POSITIONS. FORM 990, PART VI, SECTION B, LINE 11 THE INITIAL REVIEW OF THE 990 IS DONE BY THE CHIEF FINANCIAL OFFICER, THE CHIEF OPERATING OFFICER AND THE PRESIDENT AND THE INDEPENDENT AUDITORS. THE 990 IS REVIEWED BY THE CHAIR OF THE BOARD OF TRUSTEES AND A MEMBER OF THE AUDIT COMMITTEE. PRIOR TO FILING, THE 990 IS MADE AVAILABLE TO ALL MEMBERS OF THE BOARD OF TRUSTEES FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C A FORMAL WRITTEN CONFLICT OF INTEREST POLICY IS SENT OUT ANNUALLY TO OFFICERS, DIRECTORS/TRUSTEES AND KEY EMPLOYEES FOR THEIR COMPLETION, AND MUST BE SIGNED AND RETURNED TO CRANBROOK EDUCATIONAL COMMUNITY. FORM 990, PART VI, SECTION B, LINE 15 THE CHAIR OF THE BOARD OF TRUSTEES, IN CONJUNCTION WITH OTHER TRUSTEES, DETERMINES SALARIES USING INFORMATION PREPARED BY THE HUMAN RESOURCE DEPARTMENT FOR COMPARABLE SALARIES WITH PEER INSTITUTIONS. FORM 990, PART VI, SECTION C, LINE 19 THE FOLLOWING DOCUMENTS ARE AVAILABLE UPON REQUEST: AUDITED CONSOLIDATED FINANCIAL STATEMENTS AND CRANBROOK LEADERSHIP HANDBOOK. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 26,377,177. INVESTMENT EXPENSES: -789,670. TOTAL TO FORM 990, PART XI, LINE 5: 25,587,507. FORM 990, PART XI, LINE 2C THE ORGANIZATION'S AUDIT COMMITTEE OVERSEES THE AUDIT. THIS PROCESS HAS NOT CHANGED FROM THE PREVIOUS YEAR. SCHEDULE K, PART I, LINE A, COLUMN F: $18,599,313 ($18,425,000 PRINCIPAL) SERIES 2009 VARIABLE RATE BONDS WERE ISSUED TO BENEFIT CRANBROOK EDUCATIONAL COMMUNITY, AND TO PAY THE COSTS OF ISSUING THE BONDS. THE $46,390,000 SERIES 2007 VARIABLE RATE BONDS WERE RESTRUCTURED IN 2009 VIA THE ISSUANCE OF SERIES 2009 VARIABLE RATE BONDS WHICH ARE SUPPORTED BY A JP MORGAN CHASE BANK LETTER OF CREDIT. PROCEEDS FROM THE ORIGINAL 2007 ISSUE WERE USED TO REFUND THE SERIES 1997A AND 2001 BONDS, PAY ISSUANCE COSTS, AND TO COMPLETE CERTAIN CAPITAL PROJECTS (BOYS MIDDLE SCHOOL CONSTRUCTION, KINGSWOOD ROOF, IT INFRASTRUCTURE, ETC.) THE $26,515,000 SERIES 2010 VARIABLE RATE BONDS WERE ISSUED TO FINANCE CAPITAL IMPROVEMENT PROJECTS AND TO PAY ISSUANCE COSTS. THE BONDS WERE SOLD IN A PRIVATE PLACEMENT AS BANK QUALIFIED BONDS (AS DESCRIBED IN SECTION 265(B)(3)(B) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED).