2012-03-01T13:25:14-06:00 2011-05-31 BAKER TILLY VIRCHOW KRAUSE LLP 225 S 6TH ST STE 2300 MINNEAPOLIS MN 55402 990 2010-06-01 910565571 PACIFIC LUTHERAN UNIVERSITY PACI 2535357119 PACIFIC LUTHERAN UNIVERSITY TACOMA WA 98447 ROBERT RILEY 2355357119 2012-03-01 1 LAWRENCE H MOHR CPA 6128764500 2010 2016-02-24 21:20:13Z ROBERT RILEY PACIFIC LUTHERAN UNIVERSITY TACOMA WA 98447 176637724 0 X WWW.PLU.EDU X 1920 WA PACIFIC LUTHERAN UNIVERSITY OFFERS MORE THAN 3,500 STUDENTS A UNIQUE BLEND OF STUDIES. THE ACADEMICALLY RIGOROUS OFFERINGS RANGE FROM THE LIBERAL ARTS TO PROFESSIONAL PROGRAMS. THE UNIVERSITY IS LOCATED 6 MILES SOUTH OF TACOMA, IN SUBURBAN PARKLAND, ON A 156-ACRE WOODED CAMPUS. STUDENTS DEVELOP SKILLS IN DECISION MAKING, ANALYSIS, COMMUNICATION AND REASONING THAT PREPARE THEM FOR A LIFETIME OF SUCCESS - BOTH IN THEIR CAREERS AND IN SERVICE TO OTHERS. PLU IS COMMITTED TO DEVELOPING IN ALL STUDENTS AN UNDERSTANDING OF THE INTERCULTURAL AND INTELLECTUAL RICHNESS OF THE WORLD. ABOUT 50 PERCENT OF STUDENTS SPEND TIME STUDYING ABROAD. THROUGHOUT ITS HISTORY PLU HAS REMAINED CLOSELY AFFILIATED WITH THE LUTHERAN CHURCH AND IS NOW A UNIVERSITY OF THE EVANGELICAL LUTHERAN CHURCH IN AMERICA. PLU MISSION STATEMENT IS TO "EDUCATE STUDENTS FOR LIVES OF THOUGHTFUL INQUIRY, SERVICE, LEADERSHIP AND CARE - FOR OTHER PEOPLE, FOR THE COMMUNITY, AND FOR THE EARTH." 36 34 3161 465 637595 -399055 15478001 31504170 113199631 115578907 2009410 2432533 2118505 2101775 132805547 151617385 36789232 39305904 0 0 56830617 57051374 0 0 2449428 38317774 39397013 131937623 135754291 867924 15863094 226980177 248452936 86506484 86708239 140473693 161744697 X PLU SEEKS TO EDUCATE STUDENTS FOR LIVES OF THOUGHTFUL INQUIRY, SERVICE, LEADERSHIP AND CARE - FOR OTHER PERSONS, FOR THE COMMUNITY AND FOR THE EARTH. 0 0 78234568 39305904 97487796 INSTRUCTION AT THE UNDERGRADUATE LEVEL OFFERS DEGREES AS FOLLOWS: BACHELOR OF ARTS, BACHELOR OF SCIENCE, BACHELOR OF ARTS IN COMMUNICATION, BACHELOR OF ARTS IN EDUCATION, BACHELOR OF ARTS IN PHYSICAL EDUCATION, BACHELOR OF ARTS IN RECREATION, BACHELOR OF BUSINESS ADMINISTRATION, BACHELOR OF FINE ARTS, BACHELOR OF MUSIC, BACHELOR OF MUSIC EDUCATION, BACHELOR OF MUSICAL ARTS, BACHELOR OF SCIENCE IN NURSING, AND BACHELOR OF SCIENCE IN PHYSICAL EDUCATION. ADDITIONALLY PLU OFFERS GRADUATE DEGREES IN MASTER OF ARTS IN EDUCATION, MASTER OF ARTS (MARRIAGE AND FAMILY THERAPY), MASTER OF BUSINESS ADMINISTRATION, MASTER OF SCIENCE IN NURSING, MASTER OF FINE ARTS (CREATIVE WRITING), AND A JOINT DEGREE MBA/MSN. THE TOTAL ENROLLMENT FOR THE 2010-2011 WAS 3,543 STUDENTS IN FALL 2010 AND 3,271 STUDENTS IN SPRING 2011, OF WHICH 937 MET THE REQUIREMENTS TO GRADUATE. 16408504 ACADEMIC SUPPORT AND STUDENT SERVICES AT PACIFIC LUTHERAN UNIVERSITY ARE COMPRISED OF ADMISSIONS, WANG CENTER, MULTIMEDIA SERVICES, THE WOMEN'S CENTER, INFORMATION & TECHNOLOGY SERVICES, CAMPUS MINISTRY, ROTC, ATHLETICS, THE HEALTH CENTER, THE COUNSELING CENTER, FINANCIAL AID OFFICE, STUDENT EMPLOYMENT, AND STUDENT SERVICES. 16349600 17199036 AUXILIARY ENTERPRISES AT PACIFIC LUTHERAN UNIVERSITY ARE COMPRISED OF 10 RESIDENCE HALLS AND ON-CAMPUS APARTMENTS, A NEWLY RENOVATED DINING HALL AS WELL AS QUICK SERVICE FOOD OPTIONS, AND A STATE OF THE ART BOOKSTORE. ADDITIONALLY, AUXILIARY ENTERPRISES CONSISTS OF THE CAMPUS CONCIERGE, CONFERENCES AND EVENTS, AND THE UNIVERSITY GOLF COURSE. DURING THE 2010-2011 SCHOOL YEAR RESIDENCE HALL OCCUPATION WAS 1,579 STUDENTS FOR FALL 2010 AND 1,451 STUDENTS FOR SPRING 2011. 7088660 892075 #1 : OPERATION AND MAINTENANCE OF PLANT INCLUDING DEPRECIATION OF $4,503,664#2: RESEARCH#3: PUBLIC SERVICE#4: OTHER INSTITUTIONAL SUPPORT" 7088660 892075 118081332 1 1 0 0 0 0 0 0 1 1 1 1 1 1 1 1 0 1 1 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 1 240 0 1 3161 1 1 1 1 TD 0 0 0 1 1 1 1 0 0 0 X 36 34 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X ROBERT RILEY 2535357119 BUSINESS OFFICE TACOMA WA 98447 NEAL ARNTSON 1.00 X 0 0 0 LINDA BARBO 1.00 X 0 0 0 DALE BENSON 1.00 X 0 0 0 GAYLE BERG 1.00 X 0 0 0 BRUCE BJERKE 1.00 X 0 0 0 DAVID BRAUER-RIEKE 1.00 X 0 0 0 DAVID GREENWOOD 1.00 X 0 0 0 DARREN HAMBY 1.00 X 0 0 0 ROE HATLEN 1.00 X 0 0 0 TONY HICKS 1.00 X 0 0 0 RICHARD HILDAHL 1.00 X 0 0 0 JAMES HUSHAGEN 1.00 X 0 0 0 DARCY JOHNSON 1.00 X 0 0 0 DAVID JOHNSON 1.00 X 0 0 0 ESTELLE KELLEY 1.00 X 0 0 0 MICHAEL KEYS 1.00 X 0 0 0 LISA KITTILSBY 1.00 X 0 0 0 MARK KNUDSON 1.00 X 0 0 0 LISA KORSMO 1.00 X 0 0 0 JON KVINSLAND 1.00 X 0 0 0 KATHLEEN MCCALLUM SACHSE 1.00 X 0 0 0 DONALD MORKEN 1.00 X 0 0 0 LARRY NEEB 1.00 X 0 0 0 KIM NESSELQUIST 1.00 X 0 0 0 KNUT OLSON 1.00 X 0 0 0 DAVID PETERS 1.00 X 0 0 0 NANCY POWELL 1.00 X 0 0 0 CAROL QUIGG 1.00 X 0 0 0 JEFF RIPPEY 1.00 X 0 0 0 DONNA SCHLITT 1.00 X 0 0 0 EILEEN TELLEFSON 1.00 X 0 0 0 BRADLEY TILDEN 1.00 X 0 0 0 TOM ERIC VRAALSEN 1.00 X 0 0 0 MARTIN WELLS 1.00 X 0 0 0 DONALD WILSON 1.00 X 0 0 0 ANDREW YEE 1.00 X 0 0 0 LOREN ANDERSON 40.00 X 1160346 0 190144 SHERI TONN 40.00 X 172405 0 40336 STEVEN STARKOVICH 40.00 X 145922 0 22864 LAURA MAJOVSKI 40.00 X 136223 0 49604 STEPHEN OLSON 40.00 X 118544 0 48461 KARL STUMO 40.00 X 125946 0 26992 JAMES BROCK 40.00 X 141776 0 25893 KEVIN BOEH 40.00 X 128790 0 14069 ANGELIA ALEXANDER 40.00 X 124179 0 18251 TERRY MILLER 40.00 X 121073 0 39987 DAVID ROBBINS 40.00 X 118509 0 18746 JOHN LEE 40.00 X 161674 0 12821 2655387 0 508168 26 1 1 0 WESTMARK CONSTRUCTION INC 6102 N 9TH ST STE 400 TACOMA WA 98406 GENERAL CONTRACTOR 959259 NATIONAL PUBLIC RADIO POBOX 79540 BALTIMORE MD 21279 PUBLIC RADIO PROGRAMMING SERVICES 807224 MARKET ENGINUITY INC 3131 E CLARENDON AVE STE 105 PHOENIX AZ 85016 ADVERTISING AGENT 665851 WRIGHT ROOFING INC 6305 S ADAMS TACOMA WA 98409 ROOFING CONTRACTOR 560216 NBBJ LP POBOX S/B 60000 FILE 51257 SAN FRANCISCO CA 94160 GENERAL CONTRACTOR 450007 26 2630412 28873758 1213554 31504170 TUITION AND FEES 611600 97340275 97340275 SALES AND SERVICES OF 611710 16549494 16549494 OTHER ACADEMIC SUPPORT 611710 892075 892075 GARFIELD BOOKSTORE/GOL 713910 637595 637595 UNIVERSITY LOANS INCOM 611710 159468 159468 115578907 1528816 1528816 125087 81328 43759 43759 43759 25743907 24840190 903717 903717 903717 114260 98821 15439 15439 UNDERWRITING REVENUE 541800 2042577 2042577 2042577 151617385 116983889 637595 2491731 39305904 39305904 1246095 153631 740251 352213 43497210 36547179 6093843 856188 3365122 2760250 513989 90883 5690523 4667666 869171 153686 3252424 2667809 496775 87840 362683 362683 100520 100520 133712 133712 6144787 5040277 938555 165955 269558 221106 41172 7280 10614764 8787846 1636393 190525 2111544 1732000 322517 57027 2114152 1734138 322916 57098 4115306 3375590 628572 111144 866937 711107 132416 23414 2731192 2240268 417162 73762 4685292 3843122 715632 126538 888099 728466 135648 23985 MISC. MINOR EQUIPMENT P 1400279 1148582 213879 37818 STUDY AWAY FEES 1381629 1381629 MISCELLANEOUS 645819 353345 280838 11636 DUES & SUBSCRIPTIONS 616450 505645 94156 16649 PRIZES AND AWARDS 214290 175772 32731 5787 135754291 118081332 15223531 2449428 23875 24025 15900657 17762299 5424651 14756535 3108347 2760035 7685382 7586966 1037314 844983 748604 1213167 189039808 82847519 109607970 106192289 37490802 42195573 27328777 32716761 400000 400000 18223798 22000303 226980177 248452936 9596810 8675119 59200000 58110000 128975 118531 17580699 19804589 86506484 86708239 X 52322139 66509799 20735950 24593484 67415604 70641414 140473693 161744697 226980177 248452936 X 15863094 5407910 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 67545423 2588852 8347469 3613152 215040 74653552 61752223 2931666 6698147 3623791 212822 67545423 71780725 5083841 -11475790 3461426 11527 163600 61752223 0.04320 0.95680 1 0 2037723 2037723 133652262 42607552 91044710 1840955 465321 1375634 32757476 25186750 7570726 18751392 14587896 4163496 106192289 PRIVATE EQUITY FUNDS 2530665 F HEDGE FUNDS 16322217 F LIFE INSURANCE 1322552 F REAL ESTATE 9746126 F MISC INVESTMENTS 2795201 F 32716761 CONSTRUCTION IN PROGRESS 6084578 DEPOSITS HELD BY TRUSTEE 4708904 BOND ACQUISITION COSTS 1420002 FUNDS HELD IN TRUST BY OTHERS 9786819 22000303 DEPOSIT ACCOUNTS 2061446 ANNUITIES PAYABLE 6928935 FUNDS HELD FOR OTHERS 1280038 ASSET RETIREMENT OBLIGATION 927906 UNAMORTIZIED PREMIUM 1037566 GOVERNMENT GRANTS REFUNDABLE 7568698 19804589 151617385 135754291 15863094 5934427 -526517 5407910 21271004 118211017 5934427 98821 6033248 112177769 133712 39305904 39439616 151617385 96940013 625338 625338 96314675 133712 39305904 39439616 135754291 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: INTENDED USES OF ENDOWMENT FUNDS - TO FUND SCHOLARSHIPS, UNDERGRADUATE RESEARCH, EQUIPMENT, LECTURES, ATHLETIC FACILITIES, SOME FACULTY POSITIONS, GLOBAL EDUCATION, AND OTHER UNIVERSITY PROGRAMS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, ANY UNRELATED BUSINESS INCOME MAY BE SUBJECT TO TAXATION. THE UNIVERSITY FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE UNIVERSITY FOR UNCERTAIN TAX POSITIONS AS OF MAY 31, 2011 AND 2010. THE UNIVERSITYS TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AUTHORITIES. THE TAX RETURNS FOR THE CURRENT YEAR AS WELL AS FISCAL YEARS 2008 THROUGH 2010 ARE OPEN TO EXAMINATION BY FEDERAL AUTHORITIES PART XI, LINE 8 - OTHER ADJUSTMENTS: ADJUSTMENT OF ACTUARIAL LIABILITY FOR ANNUITIES PAYABLE 142,214. LOSS ON CONTRIBUTIONS RECEIVABLE -668,731. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EXPENSES 98,821. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 39,305,904. PART XIII, LINE 2D - OTHER ADJUSTMENTS: ACTUARIAL ADJUSTMENT -142,214. LOSS ON CONTRIBUTIONS RECEIVABLE 668,731. DIRECT FUNDRAISING EXPENSES 98,821. PART XIII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 39,305,904. 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 PACIFIC LUTHERAN UNIVERSITY PUBLISHES ITS NONDISCRIMINATORY POLICY IN THE TACOMA NEWS TRIBUNE DURING FEBRUARY EACH YEAR. THE UNIVERSITY FOLLOWS A NONDISCRIMINATORY POLICY REGARDING ALL PROGRAMS. THE UNIVERSITY ENROLLS STUDENTS WITHOUT DISCRIMINATION AS TO RACE, SEX, COLOR, OR NATIONAL ORIGIN. THE UNIVERSITY'S RECRUITMENT PROCEDURES ARE DESIGNED AND CARRIED OUT IN SUCH A WAY AS TO REACH STUDENTS OF ALL RACIAL SEGMENTS IN THE GEOGRAPHICAL AREA SERVED. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES SUPPORT FROM THE US GOVERNMENT IN CONNECTION WITH THE PERKINS LOAN PROGRAM, FEDERAL WORK-STUDY PROGRAM, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT PROGRAM AND OTHER PROGRAMS. CENTRAL AMERICA AND THE CARIBBEAN 0 1 PROGRAM SERVICES STUDY ABROAD ACTIVITIES; ON-SITE PROGRAM ADMINISTRATION 66937 EAST ASIA AND THE PACIFIC 0 2 PROGRAM SERVICES STUDY ABROAD ACTIVITIES; STUDENT RECRUITMENT 187621 EUROPE (INCLUDING ICELAND & GREENLAND) 0 4 PROGRAM SERVICES STUDY ABROAD ACTIVITIES; STUDENT RECRUITMENT 645276 NORTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD ACTIVITIES 240087 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD ACTIVITIES 125508 SOUTH ASIA 0 1 PROGRAM SERVICES STUDY ABROAD ACTIVITIES; STUDENT RECRUITMENT 11747 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES STUDY ABROAD ACTIVITIES 42989 0 8 0 0 0 8 1320165 0 1320165 1 0 1 0 1 0 KPLU SPECIAL EVENTS 114260 114260 98821 114260 114260 98821 98821 15439 1 GRANTS AND SCHOLARSHIPS - SEE UNIVERSITY FOR LIST OF RECEIPIENTS 3069 39305904 OTHER INFORMATION: PART IV: PART I, LINE 2: PACIFIC LUTHERAN UNIVERSITY OFFERS SCHOLARSHIPS AND GRANTS TO QUALIFIED STUDENTS TO HELP REDUCE THEIR OUT-OF-POCKET TUITION COSTS. STUDENTS RECEIVING FINANCIAL ASSISTANCE OF THIS FORM MUST MEET SPECIFIC CRITERIA SUCH AS ACADEMIC ACHIEVEMENT, FINANCIAL NEED AND OTHER SIMILAR STANDARDS WHETHER PUT IN PLACE BY THE COLLEGE OR BY DONORS OF RESTRICTED FUNDS. X X X X 1 1 X X X X X 1 1 0 0 0 0 0 0 0 LOREN ANDERSON 262061 0 81000 0 817285 0 125725 0 64419 0 1350490 0 0 0 SHERI TONN 170405 0 0 0 2000 0 33876 0 6460 0 212741 0 0 0 STEVEN STARKOVICH 145922 0 0 0 0 0 15313 0 7551 0 168786 0 0 0 LAURA MAJOVSKI 134223 0 0 0 2000 0 28979 0 20625 0 185827 0 0 0 STEPHEN OLSON 118544 0 0 0 0 0 13260 0 35201 0 167005 0 0 0 KARL STUMO 125946 0 0 0 0 0 13923 0 13069 0 152938 0 0 0 JAMES BROCK 141776 0 0 0 0 0 16065 0 9828 0 167669 0 0 0 TERRY MILLER 121073 0 0 0 0 0 21488 0 18499 0 161060 0 0 0 JOHN LEE 0 0 0 0 161674 0 12226 0 595 0 174495 0 0 0 PART I, LINE 1A THE TAX INDEMNIFICATION AND GROSS-UP PAYMENTS WERE ADDED ON THE FORM W-2 OF THE PRESIDENT. PART I, LINE 1B PART I, LINE 1B -- SPOUSE OF PRESIDENT TRAVELED AS AN OFFICIAL REPRESENTATIVE OF UNIVERSITY WITH PRESIDENT. SUPPLEMENTAL INFORMATION PART III PART I, LINE 4B -- LOREN J. ANDERSON 457 (F) PLAN -- $788,000. PACIFIC LUTHERAN UNIVERSITY'S IRS FORM 990 FOR THE YEAR 2010 REPORTS THAT PRESIDENT LOREN J. ANDERSON'S COMPENSATION INCLUDED A ONE-TIME PAYMENT OF $788,000 IN PREVIOUSLY DEFERRED INCOME. THE INCOME CAME FROM AN IRS SECTION 457(F) DEFERRED COMPENSATION PLAN THAT WAS ESTABLISHED BY THE PLU BOARD OF REGENTS AS PART OF ANDERSON'S RETIREMENT PACKAGE. SUCH PLANS ARE COMMONLY USED BY ELIGIBLE EMPLOYERS TO ATTRACT AND RETAIN THE EXECUTIVES THEY VALUE THE MOST. ANDERSON WILL RETIRE IN MAY OF 2012. THIS PAYMENT REPRESENTS THE AGGREGATE AMOUNT OF DEFERRED INCOME ACCRUED IN INSTALLMENTS ON AN ANNUAL BASIS OVER THE LIFE OF A MULTI-YEAR EMPLOYMENT CONTRACT; DR ANDERSON HAS BEEN THE PRESIDENT OF PLU FOR 20 YEARS. WASHINGTON HIGHER EDUCATION FACILITIES AUTHORITY 911306482 939781ZD5 2006-12-20 63357191 REFUNDING AND CONSTRUCTION 0 0 0 63357191 3816213 30900647 1640331 27000000 2007 1 1 1 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 0 0 1 MBIA 30.000000000000 1 0 0 JOHN KORSMO CONSTRUCTION HUSBAND OF TRUSTEE,LISA KORSMO 1347491 BUILDING CONSTRUCTION 0 MARYANN ANDERSON WIFE OF PRESIDENT, LOREN ANDERSON 71910 EMPLOYEE SALARY:MARYANN ANDERSON IS EMPLOYED AS THE EXTERNAL RELATIONS COORDINATOR FOR GONYEA HOUSE. SHE REPORTS DIRECTLY TO THE VICE PRESIDENT FOR FINANCE AND OPERATIONS AND THE CHAIR OF THE BOARD OF REGENTS. 0 X 22 253536 FAIR MARKET VALUE X 2 890037 FAIR MARKET VALUE X UNREIMBURSED EXPENSES 23 16678 COST OF DONATED ITEM X COMPANY PRODUCTS 1 4242 COST OF DONATED ITEM X EQUIPMENT/MISC ITEMS 8 49062 COST OF DONATED ITEM 0 1 0 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): THE NUMBER OF CONTRIBUTORS ONLY INDICATES THE NUMBER OF UNIQUE CONTRIBUTORS. FORM 990, PART VI, SECTION A, LINE 4 THE DISSOLUTION CLAUSE OF THE ARTICLES OF INCORPORATION WAS AMENDED TO COMPLY WITH SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WAS PROVIDED TO AND REVIEWED BY THE ENTIRE BOARD BEFORE IT WAS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C PACIFIC LUTHERAN UNIVERSITY ANNUALLY REQUIRES BOARD MEMBERS AND KEY EMPLOYEES TO COMPLETE CONFLICT OF INTEREST SURVEY. ALL SURVEYS ARE REVIEWED BY INDEPENDENT AUDITORS. ANY CONFLICTS ARE DOCUMENTED TO ENSURE PROPER OVERSIGHT. BOARD MEMBERS WITH CONFLICTS ARE REQUIRED TO RECUSE THEMSELVES FROM PROCEEDINGS. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT'S COMPENSATION IS REVIEWED ANNUALLY BY A COMPENSATION COMMITTEE OF THE GOVERNING BOARD. COMPARABLE DATA FOR SAME SIZE AND REGIONAL ORGANIZATIONS IS USED AS WELL AS PRIOR YEAR ACCOMPLISHMENTS. ALL OTHER POSITIONS ARE REVIEWED ANNUALLY BY AN IMMEDIATE SUPERVISOR. THE HUMAN RESOURCES DIRECTOR ASSEMBLES AND REVIEWS COMPARABLE DATA FROM THE INDUSTRY. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED ON PLU'S WEBSITE. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 5,934,427. ADJUSTMENT OF ACTUARIAL LIABILITY FOR ANNUITIES PAYABLE 142,214. LOSS ON CONTRIBUTIONS RECEIVABLE -668,731. TOTAL TO FORM 990, PART XI, LINE 5: 5,407,910. FORM 990, PART XI, LINE 2C THE OVERSIGHT PROCESS HAS NOT CHANGED FROM PRIOR YEAR