2012-11-15T11:19:33-06:00 2012-06-30 363168081 SIKICH LLP 1415 W DIEHL RD SUITE 400 NAPERVILLE IL 605632349 990 2011-07-01 362166964 AURORA UNIVERSITY AURO 6308926431 347 SOUTH GLADSTONE AVENUE AURORA IL 60506 BETH REISSENWEBER 6308926431 2012-11-14 1 ANDREW TWARDOWSKI P00377357 6305668400 2011 2016-02-24 21:20:13Z DR REBECCA SHERRICK 347 SOUTH GLADSTONE AVENUE AURORA IL 60506 126721650 0 X WWW.AURORA.EDU X 1899 IL TO PROVIDE POST-SECONDARY UNDERGRADUATE AND GRADUATE EDUCATION. 30 30 1674 133 299875 -27687 13262041 15756202 68789491 73815421 5061979 3578001 78674 85241 87192185 93234865 25670163 28008681 0 0 34574665 36546652 0 0 1600001 21831120 23016829 82075948 87572162 5116237 5662703 140879006 141734879 48534316 48447443 92344690 93287436 X THE PRIMARY PURPOSE OF AURORA UNIVERSITY IS TO PROVIDE POST-SECONDARY UNDERGRADUATE AND GRADUATE EDUCATION SHAPED BY ITS LONG-STANDING COMMITMENT TO EDUCATIONAL EXCELLENCE AND COMMUNITY PARTNERSHIP. THE UNIVERSITY IS GUIDED BY ITS MISSION TO BE AN INCLUSIVE COMMUNITY DEDICATED TO THE TRANSFORMATIVE POWER OF LEARNING AND CONTINUES TO UPHOLD ITS VALUES OF INTEGRITY, CITIZENSHIP, CONTINUOUS LEARNING, AND EXCELLENCE. 0 0 68012255 28008681 65216321 AURORA UNIVERSITY PROVIDES POST-SECONDARY EDUCATION AND RELATED ACTIVITIES AND SUPPORT SERVICES TO 3,183 UNDERGRADUATE STUDENTS AND 2,461 GRADUATE STUDENTS ON ITS THREE LOCATIONS IN AURORA, ILLINOIS, WILLIAMS BAY, WISCONSIN AND WOODSTOCK, ILLINOIS, AS WELL AS VARIOUS OTHER LOCATIONS. DURING THE YEAR, AU GRADUATED 645 STUDENTS WITH BACHELOR OF ARTS AND BACHELOR OF SCIENCE DEGREES AND 637 STUDENTS WITH GRADUATE DEGREES IN EDUCATION, SOCIAL WORK, BUSINESS, AND RECREATION. AS PART OF ITS MISSION, THE UNIVERSITY OFFERS CULTURAL AND EDUCATIONAL OPPORTUNITIES TO ITS STUDENTS, FACULTY, STAFF AND THE NEIGHBORING COMMUNITY. 6543330 6846942 AURORA UNIVERSITY HAS RESIDENCE HALL CAPACITY OF 701 BEDS ON ITS AURORA CAMPUS, AS WELL AS, OFFERING HOUSING SERVICES FOR ITS GRADUATE AND UNDERGRADUATE STUDENTS ON ITS WISCONSIN CAMPUS. FOOD SERVICE FOR STUDENTS AND STAFF IS PROVIDED AT THREE LOCATIONS ON THE AURORA CAMPUS AND A DINING HALL ON THE WISCONSIN CAMPUS. ADDITIONALLY, A BOOKSTORE ON THE AURORA CAMPUS SELLS TEXTBOOKS, SUPPLIES AND MISCELLANEOUS CONVENIENCE ITEMS TO STUDENTS, FACULTY AND STAFF. 2066698 1351462 GEORGE WILLIAMS COLLEGE CAMPUS PROVIDES FOOD SERVICES, LODGING AND MEETING ROOMS FOR ALL INDIVIDUALS PARTICIPATING IN A CONFERENCE OR SEMINAR. THE PROGRAM ANNUALLY PROVIDES SERVICES TO OVER 185 SCHOOLS, CHURCHES, HUMAN SERVICE ORGANIZATIONS AND RETREAT/PROGRAM GROUPS. 76622283 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 1 197 0 1 1674 1 1 1 1 CJ 0 0 1 1 1 1 0 0 0 0 X 30 30 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL WI X JOE ONZICK 6308445630 347 S GLADSTONE AVENUE AURORA IL 605064808 JIMMIE R ALFORD 2.00 X 0 0 0 DELBERT W ARSENAULT 2.00 X 0 0 0 DAVID R BERGMAN 1.00 X 0 0 0 HILARY K BRENNAN 2.00 X 0 0 0 PHILIP S CALI 2.00 X X 0 0 0 DONALD A CHURCHILL 1.00 X 0 0 0 CHARLES B DOSS 1.00 X 0 0 0 FARRELL L FRENTRESS 1.00 X 0 0 0 JOANNE HANSEN 2.00 X X 0 0 0 RICHARD G HAWKS 2.00 X 0 0 0 RONALD M HEM 2.00 X X 0 0 0 CHRISS JOHNS 2.00 X 0 0 0 RICHARD R KEARNEY 1.00 X 0 0 0 MICHAEL K KEEFE 1.00 X 0 0 0 DR DONALD E KIESO 2.00 X 0 0 0 KYLE MATTHEWS 1.00 X 0 0 0 RUTH MENDIUS 2.00 X 0 0 0 DR CALVIN R MYERS 2.00 X 0 0 0 GERALD PALMER 1.00 X 0 0 0 SCOTT PALMER 1.00 X 0 0 0 MYRON J RESNICK 2.00 X 0 0 0 SANTOS RIVERA 1.00 X 0 0 0 JOHN M ROESCH 1.00 X 0 0 0 DONALD A SCHINDLBECK 1.00 X 0 0 0 THOMAS R SCOTT 1.00 X 0 0 0 DAVID K STONE 2.00 X 0 0 0 THOMAS T STUHLEY 2.00 X 0 0 0 RONALD THOMAS 1.00 X 0 0 0 ROGER A TUCKER 1.00 X 0 0 0 FRANK K VORIS 2.00 X 0 0 0 WALTER ALEXANDER 1.00 X 0 0 0 JAMES E BENSON 1.00 X 0 0 0 TELL COFFEY 1.00 X 0 0 0 F JAMES GARBE 1.00 X 0 0 0 W A GREENE 1.00 X 0 0 0 FLORENCE S HART 1.00 X 0 0 0 RONALD KINNAMON 1.00 X 0 0 0 JOHN F MCKEE 1.00 X 0 0 0 FR MILLER 1.00 X 0 0 0 CALVIN R THELIN 1.00 X 0 0 0 REBECCA L SHERRICK PHD 60.00 X 412030 0 24714 BETH REISSENWEBER CPACMAPHD 60.00 X 194884 0 19395 MARGARET E SHARRER 60.00 X 114251 0 10557 MARILYN D CAMPBELL CPA 60.00 X 95704 0 9912 ANDREW P MANION PHD 60.00 X 231310 0 20660 THEODORE C PARGE 60.00 X 222015 0 12960 WILLIAM B DUNCAN EDD 60.00 X 167167 0 19093 LORA L DE LACEY PHD 60.00 X 177664 0 14084 THOMAS H HAMMOND 60.00 X 159755 0 9732 DONNA M DESPAIN EDD 60.00 X 169185 0 15922 THERESE H TOMASZKIEWICZ 60.00 X 159185 0 13720 2103150 0 170749 25 0 1 0 THE BOLDT COMPANY 2525 N ROEMER ROAD APPLETON WI 54911 CONSTRUCTION 7435768 SODEXO INC 9801 WASHINGTONIAN BOULEVARD GAITHERSBURG MD 20878 FACILITIES & FOOD SERVICE MGMT 5990658 CORDOGAN CLARK & ASSOCIATES 960 RIDGEWAY AVE AURORA IL 60506 ARCHITECTURAL SERVICE 275958 WE MUNDY LANDSCAPING INC 1135 MITCHELL ROAD AURORA IL 60505 LANDSCAPING 262103 SCHERRER CONSTRUCTION CO INC 601 BLACKHAWK DRIVE BURLINGTON WI 53105 CONSTRUCTION 227370 7 11861170 3895032 159662 15756202 STUDENT TUITION & FEES 611310 64501260 64501260 AUXILIARY REVENUE 611310 7470541 7383532 87009 CULTURAL EDUCATION 611310 1315022 1162955 152067 ATHLETIC EVENTS 611310 257350 257350 RENTAL INCOME 611310 109628 109628 161620 53172 108448 73815421 1253268 1253268 6067 6067 71925 19636 52289 52289 52289 35598597 193285 33082252 384897 2516345 -191612 2324733 2324733 ROYALTY INCOME-TELEPHO 900099 10317 10317 MISCELLANEOUS REVENUE 900099 8088 8088 CONFERENCE AND RENTALS 532000 3342 3342 5138 4285 853 26885 93234865 73414725 299875 3764063 28008681 28008681 1400221 151021 1074357 174843 29069578 24436737 3663056 969785 1230253 1197647 16459 16147 2501115 2379200 89978 31937 2345485 2193930 117007 34548 121737 121737 79890 79890 170978 170978 8470147 7406606 953482 110059 822560 699527 90671 32362 3117216 2204878 836972 75366 528050 109899 376298 41853 1495595 1348416 137814 9365 724042 625099 59325 39618 109597 96691 10390 2516 547783 985 546786 12 4749931 4219727 486824 43380 477297 38181 438747 369 COST OF GOODS SOLD 866800 866800 BAD DEBT EXPENSE 353494 353494 DUES, MEMBERSHIPS, & SU 199715 165868 24289 9558 ENTERTAINMENT 125748 70133 47332 8283 56249 48763 7486 87572162 76622283 9349878 1600001 1802320 8011869 3500896 417316 774647 2759205 2197192 1991167 229355 220900 879365 1217963 134820907 47373475 83762131 87447432 46351351 37368640 1060842 2032674 320907 267713 140879006 141734879 4711389 3946617 5637363 6101250 25200000 25200000 9871699 9661019 3113865 3538557 48534316 48447443 X 52492620 56248688 20321519 17684249 19530551 19354499 92344690 93287436 140879006 141734879 X 5662703 -4719957 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 31000 1405369 X X X 0 45755712 310346 -764276 752447 6024106 38525229 39149947 484977 7990363 677748 1191827 45755712 33428029 4113747 3802646 557485 1636990 39149947 40770775 839364 -6758379 962013 461718 33428029 0.39000 0.61000 0 0 4023816 4023816 96260490 27788987 68471503 118176 107530 10646 20137146 13152324 6984822 14281279 6324634 7956645 87447432 DEPOSITS 332919 RETIREMENT BENEFIT OBLIGATION 981529 ANNUITIES PAYABLE 747275 GOVT. ADVANCES FOR STUDENT LOANS 628327 OTHER LIABILITIES 191754 FAIR VALUE OF INTEREST RATE SWAPS 656753 3538557 93234865 87572162 5662703 -4083258 -636699 -4719957 942746 60638145 -4083258 1259091 -2824167 63462312 29772553 29772553 93234865 59695399 1734942 1734942 57960457 29611705 29611705 87572162 PART III, LINE 4: 1. COLLECTIONS HELD BY THE UNIVERSITY INCLUDE THE SCHINGOETHE COLLECTION OF NATIVE AMERICAN MATERIALS AND ARTIFACTS. EACH YEAR, THE SCHINGOETHE CENTER HOSTS A VARIETY OF EVENTS AND PROGRAMS DESIGNED TO HELP INFORM ABOUT MANY ASPECTS OF NATIVE AMERICAN CULTURES, BOTH IN HISTORICAL AND CONTEMPORARY CONTEXTS. THE SCHINGOETHE CENTER'S MAIN GALLERY OF OVER 1,500 SQUARE FEET AND A SMALLER ATTACHED GALLERY FOR TEMPORARY EXHIBITS EXPLORE BOTH HISTORICAL AND CONTEMPORARY NATIVE AMERICAN MATERIALS FROM NORTH AMERICA. BOTH EARLY HISTORY AND CONTEMPORARY ARTISTRY ARE PRESENTED WITH ARTIFACTS FROM THE MAJOR CULTURAL REGIONS OF NATIVE AMERICANS IN NORTH AMERICA. THE EXHIBITIONS PRESENT A HARMONY IN LIVING AND ARTISTIC EXPRESSION. THE SCHINGOETHE CENTER IS A SOURCE FOR A WIDE VARIETY OF EDUCATIONAL RESOURCES THAT MAY BE BORROWED FOR CLASSROOM USE OR HOME STUDY, INCLUDING "DISCOVERY BOXES," AUDIO-VISUAL RESOURCES, AND TRAVELING EXHIBITS. IT ALSO OFFERS TOURS FOR SCHOOL CHILDREN FROM FIRST GRADERS ON, SPECIAL INTEREST, AND ADULT GROUPS. 2. THE JENKS COLLECTION OF ADVENTIST MATERIAL IS THE SECOND LARGEST COLLECTION OF HISTORIC ADVENT CHRISTIAN BOOKS, MURALS, PHOTOGRAPHS, AND OTHER MATERIALS THAT ARE AVAILABLE FOR RESEARCH. THE JENKS COLLECTION IS MANAGED WITHIN THE PHILLIPS LIBRARY. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ENDOWMENT FUNDS OF THE UNIVERSITY PROVIDE SCHOLARSHIP, OPERATIONAL AND FACILITIES SUPPORT TO THE UNIVERSITY AND ITS THREE CAMPUSES LOCATED IN AURORA, ILLINOIS, WILLIAMS BAY, WISCONSIN AND WOODSTOCK, ILLINOIS. MANY OF THE FUNDS ARE RESTRICTED TO SCHOLARSHIP PURPOSES, HOWEVER A SUBSTANTIAL AMOUNT OF FUNDS ARE BOARD DESIGNATED, OR QUASI-ENDOWMENT FUNDS PROVIDING STRATEGIC FINANCIAL RESOURCES TO THE UNIVERSITY. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE UNIVERSITY 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 UNIVERSITY CONDUCTS BUSINESS SOLELY IN THE UNITED STATES OF AMERICA AND FILES EXEMPT ORGANIZATION TAX RETURNS FOR THE UNITED STATES, ILLINOIS, AND WISCONSIN. IN THE NORMAL COURSE OF BUSINESS, THE UNIVERSITY IS SUBJECT TO EXAMINATION BY TAXING AUTHORITIES. THE UNIVERSITY'S TAX 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 SCHOOL CURRENTLY FILES OR HAS FILED WITH. PART XI, LINE 8 - OTHER ADJUSTMENTS: ADJUSTMENT OF ANNUITIES -85,341. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP -475,851. INVESTMENT ACTIVITY FROM PASSTHROUGH -75,507. TOTAL TO SCHEDULE D, PART XI, LINE 8: -636,699. PART XII, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID EXPENSE 1,715,306. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP -475,851. RENTAL EXPENSE 19,636. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND AID 19,850,960. GOVERNMENT GRANT EXPENSE 9,589,767. ADJUSTMENT OF ANNUITY 85,341. INVESTMENT EXPENSES 155,370. NET INVESTMENT INCOME (LOSS) FROM PASSTHROUGH 91,115. PART XIII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 19,636. FINANCIAL AID EXPENSE 1,715,306. PART XIII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND AID 19,850,960. GOVERNMENT GRANT EXPENSE 9,589,767. INVESTMENT EXPENSES 155,370. INVESTMENT EXPENSES FROM PASSTHROUGH 15,608. 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 A STATEMENT INDICATING THE UNIVERSITY'S NONDISCRIMINATORY POLICY IS INCLUDED IN ALL BROCHURES, CATLOGUES AND ANNOUNCEMENTS DEALING WITH STUDENT ADMISSIONS, PROGRAMS AND SCHOLARSHIPS, AND IS PRESENT ON THE UNIVERSITY'S WEBSITE. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 AURORA UNIVERSITY RECEIVED FINANCIAL AID FROM GOVERNMENTAL AGENCIES WHICH INCLUDE THE DEPARTMENT OF EDUCATION AND THE DEPARTMENT OF VETERAN AFFAIRS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 1994885 0 0 0 0 0 0 1994885 0 1994885 1 0 0 0 0 0 1 SCHOLARSHIPS 3121 28008681 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE FINANCIAL AID OFFICE CLOSELY MONITORS ANY CHANGES IN THE STATUS OF FINANCIAL AWARD RECIPIENTS THAT WOULD RESULT IN A CORRESPONDING CHANGE IN THE AMOUNT OF AID AWARDED. ANY SUCH CHANGES ARE AUTOMATICALLY DETECTED AND REPORTED BY A SERIES OF SPECIAL REPORTS THAT ARE RUN ON A REGULAR BASIS. MOREOVER, THE OFFICE OF STUDENT ACCOUNTS ENSURES THAT THE CHARGES TO WHICH THE FINANCIAL AID AWARDS ARE APPLIED ARE CONSISTENT WITH THE INTENDED USE OF THE AWARDS. X 1 1 X X X X X X 0 0 0 0 0 0 0 1 0 REBECCA L SHERRICK PHD 350000 0 45000 0 17030 0 14700 0 10014 0 436744 0 0 0 BETH REISSENWEBER CPACMAPHD 188442 0 6000 0 442 0 11307 0 8088 0 214279 0 0 0 ANDREW P MANION PHD 209090 0 16000 0 6220 0 12545 0 8115 0 251970 0 0 0 THEODORE C PARGE 209090 0 10000 0 2925 0 12545 0 415 0 234975 0 0 0 WILLIAM B DUNCAN EDD 159518 0 7460 0 189 0 9571 0 9522 0 186260 0 0 0 LORA L DE LACEY PHD 167272 0 10000 0 392 0 10036 0 4048 0 191748 0 0 0 THOMAS H HAMMOND 156818 0 2000 0 937 0 9409 0 323 0 169487 0 0 0 DONNA M DESPAIN EDD 156818 0 12000 0 367 0 9409 0 6513 0 185107 0 0 0 THERESE H TOMASZKIEWICZ 156818 0 2000 0 367 0 9409 0 4311 0 172905 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE PROVIDED IS TREATED AS TAXABLE COMPENSATION. PART I, LINE 7 A MERIT BONUS WAS PAID CITY OF AURORA KANE DUPAGE WILL AND KENDALL COUNTIES ILLINOIS 366005778 0516480BC 2004-11-17 12000000 TO FINANCE VARIOUS CAPITAL EXPENDITURES 0 0 0 12441259 167587 9572 12264100 2006 0 0 1 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 1 BMO CAPITAL MARKETS 2.100000000000 0 0 0 0 0 RONALD M HEM TRUSTEE 20573 RONALD M. HEM (BOARD OF TRUSTEES) IS A MEMBER OF THE LAW FIRM ALSCHULER, SIMANTZ, AND HEM, LLC TO WHICH THE UNIVERSITY PAID $20,573 FOR LEGAL COUNSEL PROVIDED REGARDING REAL ESTATE TRANSACTIONS. 0 DR JOHN A PYLE SENIOR VICE PRESIDENT GEORGE WILLIAMS COLLEGE 180685 DR. JOHN A. PYLE RECEIVED $180,685 FROM THE UNIVERSITY IN EXCHANGE FOR HIS PRIMARY RESIDENCE TO FACILITATE THE RELOCATION REQUIRED FOR START OF EMPLOYMENT AS SENIOR VICE PRESIDENT GEORGE WILLIAMS COLLEGE. 0 DR DOUGLAS W KIESO SON OF TRUSTEE - DR. DONALD E. KIESO 87727 DR. DOUGLAS W. KIESO (SON OF TRUSTEE - DR. DONALD E. KIESO) IS EMPLOYED AS THE ASSOCIATE PROFESSOR OF CRIMINAL JUSTICE FOR WHICH HE RECEIVED $87,727 IN COMPENSATION AND BENEFITS FROM THE UNIVERSITY. 0 AMY S MANION WIFE OF PROVOST - DR. ANDREW MANION 50254 AMY S MANION (WIFE OF PROVOST - DR. ANDREW MANION) IS EMPLOYED AS THE INFORMATION SERVICES LIBRARIAN FOR WHICH SHE RECEIVED $50,254 IN COMPENSATION AND BENEFITS FROM THE UNVERSITY. 0 MICHELLE VORIS DAUGHTER-IN-LAW OF TRUSTEE - FRANK K. VORIS 4075 MICHELLE VORIS (DAUGHTER-IN-LAW OF TRUSTEE - FRANK K. VORIS) IS EMPLOYED AS AN ADJUNCT PROFESSOR OF SOCIAL WORK FOR WHICH SHE RECEIVED $4,075 IN COMPENSATION FROM THE UNIVERSITY. 0 SCOTT VORIS SON OF TRUSTEE - FRANK K. VORIS 4708 SCOTT VORIS (SON OF TRUSTEE - FRANK K. VORIS) IS THE PRESIDENT AND CEO OF KELMSCOTT COMMUNICATIONS WHO RECEIVED $4,708 FOR PROVIDING MARKETING SERVICES FOR THE STEM CENTER. 0 CHARLES B DOSS TRUSTEE 2050 CHARLES B. DOSS (BOARD OF TRUSTEES) IS THE OWNER OF CHARLES B. DOSS & CO WHICH RECEIVED PAYMENT OF $2,050 FOR PROVIDING BROKERAGE SERVICE FOR A REAL ESTATE TRANSACTION INVOLVING PROPERTY OWNED AND SOLD BY THE UNIVERSITY. 0 X 1 31000 EST VALUE BY DONOR X 4 128662 AVERAGE STOCK PRICE 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 RONALD H. HEM IS A PARTNER IN THE LAW FIRM TO WHICH THE UNIVERSITY PAID FOR LEGAL COUNSEL PROVIDED REGARDING REAL ESTATE TRANSACTIONS. CHARLES B. DOSS IS THE OWNER OF CHARLES B. DOSS & CO WHICH RECEIVED PAYMENT FOR PROVIDING BROKERAGE SERVICE FOR A REAL ESTATE TRANSACTION INVOLVING PROPERTY OWNED AND SOLD BY THE UNIVERSITY. FORM 990, PART VI, SECTION B, LINE 11 THE AUDIT COMMITTEE MEMBERS AND THE CHAIR, TRUSTEE COMMITTEE CHAIR, AND CHAIRMAN OF THE BOARD OF TRUSTEES ARE RESPONSIBLE FOR REVIEWING THE DRAFT FORM 990 PRIOR TO FILING. THE DRAFT FORM 990 IS AVAILABLE TO ALL BOARD MEMBERS FOR THEIR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE SECRETARY OF THE BOARD OF TRUSTEES IS CHARGED WITH CONTACTING ALL BOARD MEMBERS TO COMPLETE THE ANNUAL CONFLICT OF INTEREST FORM. FOLLOW-UP REQUESTS ARE MADE UNTIL THE FORM HAS BEEN COMPLETED. FOR STAFF, THE VICE PRESIDENT FOR FINANCE SENDS A REQUEST TO ALL STAFF WHO ARE REQUIRED TO COMPLETE THE ANNUAL CONFLICT OF INTEREST FORM. FOLLOW-UP REQUESTS ARE MADE UNTIL THE FORM HAS BEEN COMPLETED. THE CHAIR OF THE TRUSTEE COMMITTEE REVIEWS ALL CONFLICT OF INTEREST STATEMENTS SUBMITTED BY ALL TRUSTEES. IF CONFLICTS REQUIRE ADDITIONAL REVIEW, THE UNIVERSITY BY-LAWS PROVIDES FOR A SPECIAL COMMITTEE TO BE FORMED TO ADDRESS SUCH CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THE SALARIES OF KEY EMPLOYEES ARE REVIEWED EACH YEAR BY THE PRESIDENT. A SCAN OF COMPARABLE MARKET SALARIES FOR EQUIVALENT POSITIONS IS DONE TO ASSESS APPROPRIATE COMPENSATION LEVELS. THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS AND APPROVES THE PRESIDENT'S COMPENSATION ON AN ANNUAL BASIS. THE CHAIRPERSON OF THE EXECUTIVE COMMITTEE, THE IMMEDIATE PAST CHAIR OF THE BOARD OF TRUSTEES, CURRENT CHAIR OF THE BOARD OF TRUSTEES AND VICE CHAIRS ARE MEMBERS OF THE COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 SUCH DOCUMENTS ARE AVAILABLE UPON REQUEST GIVEN REQUISITE NEED. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -4,083,258. ADJUSTMENT OF ANNUITIES -85,341. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP -475,851. INVESTMENT ACTIVITY FROM PASSTHROUGH -75,507. TOTAL TO FORM 990, PART XI, LINE 5: -4,719,957.