2012-03-28T15:42:32-07:00 2011-06-30 990 2010-07-01 370673513 KNOX COLLEGE KNOX 3093417212 2 E South Street Galesburg IL 614014999 Thomas Axtell 3093417212 2012-03-28 2010 2016-02-24 21:20:13Z Teresa L Amott Office of the President 2 E South Street Galesburg IL 614014999 127857934 0 X www.knox.edu X 1837 IL Knox College is dedicated to providing a liberal arts education to students from diverse backgrounds. Our mission is carried out through: our curriculum, the character of our learning environment, our residential campus culture, and our community. 50 50 1622 700 132619 21664 9971969 9215048 56324338 57678901 2929561 4609234 94883 132423 69320751 71635606 19424658 20753851 0 0 25435498 25974318 73636 83878 2220165 19752666 19150400 64686458 65962447 4634293 5673159 121704369 138315339 54077389 53442656 67626980 84872683 Knox College is a community of individuals from diverse backgrounds challenging each other to explore, understand and improve ourselves, our society and our world. We take particular pride in the College's early commitment to increase access to all qualified students of varied backgrounds, races and conditions, regardless of financial means. Today, we continue to expand both the historic mission and the tradition of active liberal arts learning. The mission is carried out through our curriculum, the character of our learning environment, our residential campus, and our community. Our aims throughout are to foster a lifelong love of learning and a sense of competence, confidence and proportion that will enable us to live with purpose and to contribute to the well-being of others. 0 0 52414026 20753851 57685377 Higher Education: Knox College is dedicated to providing a liberal arts education to students from diverse backgrounds. Our mission is carried out through: our curriculum, the character of our learning environment, our residential campus culture, and our community. Program costs include costs for instruction, academic support, athletics, student services and auxiliary enterprises (housing, food service and bookstore). (1375 students) 0 0 0 52414026 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 1 1 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 2410 0 1 1622 1 1 1 1 FR SP 0 0 0 0 0 0 0 0 X 50 50 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 X Thomas B Axtell 3093417212 2 E South Street Galesburg IL 614014999 Anderson Jean O 1 X 0 0 0 Andrew Laurel J 2 X 0 0 0 Bayer Douglas 1 X 0 0 0 Bibb Harold D 1 X 0 0 0 Blew Susan 1 X 0 0 0 Burkhardt Dorothy J 0.25 X 0 0 0 Carlin Nancy 1 X 0 0 0 Castendyck Robert W 0.25 X 0 0 0 Cecil Jarvis B 0.25 X 0 0 0 Cottrell Frank S 0 X 0 0 0 Deans Susan S 1 X 0 0 0 DeGraff Deborah 2 X 0 0 0 Frum Sandra E 0.25 X 0 0 0 Fridovich David P LTG 1 X 0 0 0 Gibbs Charles 1 X 0 0 0 Glossberg Joseph B 2 X 0 0 0 Graham Patrick F 0.25 X 0 0 0 Hartog Elzelien 1 X 0 0 0 Henke Richard and Sophia 0 X 0 0 0 Hinz Mary M 0.25 X 0 0 0 Jacobson Gary S 1 X 0 0 0 Jaffee Erica A 1 X 0 0 0 Jamieson Robert 1 X 0 0 0 Kerous Frank J 0.25 X 0 0 0 Kilts James M 1 X 0 0 0 Kleine Mark 1 X 0 0 0 Knight Mary 0 X 0 0 0 Koran Janet M 2 X 0 0 0 Luetger Steven P 1 X 0 0 0 Lyn Patrick 1 X 0 0 0 Martin Dan M 0.25 X 0 0 0 Masterson Joe A 1 X 0 0 0 Matkov George J Jr 1 X 0 0 0 Mitchell William G 0.25 X 0 0 0 Parks Clarence A 1 X 0 0 0 Petrovich Dushan 1 X 0 0 0 Podesta John D 1 X 0 0 0 Potter James R 1 X 0 0 0 Procknow Eugene A 2 X 0 0 0 Purlee James R 1 X 0 0 0 Ramanan Hariharan 1 X 0 0 0 Riddell Richard 1 X 0 0 0 Rosenberg Diane S 1 X 0 0 0 Sampson Walter E 0.25 X 0 0 0 Schulz David A 2 X 0 0 0 Smith Charles F 2 X 0 0 0 Sparks Robert 0.25 X 0 0 0 Stevenson Smith Fay 1 X 0 0 0 Stisser Vernon LE Jr 0.25 X 0 0 0 Tucker Caroline H 0.25 X 0 0 0 Vovis Gerald F 1 X 0 0 0 Walter Ralph 2 X 0 0 0 Weir Morton W 0.25 X 0 0 0 Amott Teresa L 55 X 0 0 0 Axtell Thomas B 40 X 137056 0 19881 Bailey Denise 40 X 37359 0 13841 Breitborde Lawrence B 40 X 146146 0 20351 Holmes Beverly 40 X 119443 0 15416 Maurer Bobby Jo 40 X 76108 0 12906 Nixon Ann 40 X 41631 0 10789 Steenis Paul 40 X 119395 0 15416 Taylor Roger L 55 X 180254 0 34437 857392 0 143037 5 0 1 0 MSI 1144 Monmouth Blvd Galesburg IL 61401 Contractor 577855 Jenzabar PO Box 845939 Boston MA 022845939 Software 511604 PJ Hoerr Inc 107 Commerce Place Peoria IL 616045285 Contractor 429446 Dennis Construction PO Box 265 Oneida IL 61467 Contractor 370625 DIS Study Program Vestergade 7 1456 Copenhagen K Denmark Denmark DA Off Campus Studies Tuition 257195 23 0 0 0 0 0 9215048 1610085 9215048 Tuition & Fees 611310 45095788 45095788 0 0 Federal Grants & Contracts 611310 2225947 2225947 0 0 Auxililiary Enterprises--Bookstore 451211 26236 0 26236 0 Auxiliary Enterprises--Catering 722320 99711 0 99711 0 Auxiliary Enterprises 611310 8281345 8281345 0 0 1949874 1949874 0 0 57678901 1740583 0 6672 1733911 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 59090979 0 56222328 0 2868651 0 2868651 0 0 2868651 0 Matured Annuity and Life Income Funds 611310 132423 132423 0 0 0 0 0 0 132423 71635606 57685377 132619 4602562 0 0 19106105 19106105 1647746 1647746 0 0 1104113 219613 746988 137512 0 0 0 0 19218017 15405691 2746224 1066102 780807 617518 106389 56900 3533427 2700394 564296 268737 1337954 1003844 231663 102447 1962758 1144304 746770 71684 85345 0 85345 0 114594 0 114594 0 0 0 0 0 83878 83878 35640 18498 17142 0 4251855 2870371 1060503 320981 95334 151297 -55963 0 1624320 0 1624320 0 1393764 1222004 91324 80436 55606 50195 484 4927 1376571 0 1376571 0 2989115 0 2989115 0 336707 0 336707 0 Auxiliary Food Svc Bookstore 1948267 1949746 -1479 0 Allocations-Utilities,AdminExp, Ins, M&F 0 1528801 -1528801 0 Tuition Waivers 308442 308442 0 0 Faculty Start UP 77668 77668 0 0 2494414 2391789 76064 26561 65962447 52414026 11328256 2220165 0 0 4747602 3387913 3614024 1623207 1202245 1097170 0 0 0 0 0 0 235478 237942 621737 754670 91941421 51832137 40432800 40109284 64611182 85487655 1360407 1333054 0 0 4878894 4284444 121704369 138315339 3226525 3404358 0 0 487209 491897 24700000 24700000 0 0 0 0 73000 0 25590655 24846401 54077389 53442656 X 7911925 16542984 9694108 9639777 50020947 58689922 67626980 84872683 121704369 138315339 X 5673159 11572544 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 X X X X 0 67435543 4393325 15004316 2756938 -8860 0 84085106 57550359 5629547 7378101 3075965 46499 0 67435543 71423256 1623588 -11697778 3261000 537707 0 57550359 0.3 0.68 0.02 0 0 0 2690136 2690136 0 59521422 34748111 24773311 0 0 0 0 0 16802126 13353350 3448776 0 12927737 3730676 9197061 40109284 Real Estate Principally Farms 717007 F Other Investments 616047 F 1333054 Grants and Contracts Receivable 349606 Student Loans Receivable 3934838 4284444 0 Student Deposits 467835 Deposits Held In Custody for Others 81440 Postretirement benefit obligation 8242083 Federal Equity in Loan Programs 2249169 Interest Rate SWAP Liability 3060128 Lines of Credit 9346919 Annuities Payable 1398827 24846401 71635606 65962447 5673159 10845210 0 0 0 727334 11572544 17245703 61726965 10845210 0 0 0 10845210 50881755 0 20753851 20753851 71635606 45208596 0 0 0 0 0 45208596 0 20753851 20753851 65962447 SchD_P03_S00_L01 Schedule D, Part III, Line 1 The College has collections of valuable artwork, papers, and other memorabilia that were donated to the College. These items are on display and are used by educators, researchers, historians, and others. However, all proceeds from any sales of collections, or items in a collection, must be used to acquire other items for collections. (From Note 1 Knox College Financial Statements and Independent Auditor's Report For the Years Ended June 30, 2011 and 2010.) SchD_P03_S00_L04 Schedule D, Part III, Line 4 The College has collections of valuable artwork, papers, and other memorabilia that were donated to the College. These items are on display and are used by educators, researchers, historians, and others. . (From Note 1 Knox College Financial Statements and Independent Auditor's Report For the Years Ended June 30, 2011 and 2010.) SchD_P05_S00_L04 Schedule D, Part V, Line 4 The College's endowment consists of approximately 540 individual funds established for a variety of purposes: scholarships, professorships, library, lectureships, research, prizes, and donor specified educational activities. Included in these funds are both donor-restricted endowment funds and funds designated by the Board of Trustees to function as endowments.(From Note 18 of Knox College Financial Statements and Independent Auditor's Report For the Years Ended June 30, 2011 and 2010.) SchD_P10_S00_L02 Schedule D, Part X, Line 2 NOTE 2 - INCOME TAX STATUS The College is a not-for-profit entity as described in Section 501(c)(3) of the Internal Revenue Code (IRC) and is exempt from federal income taxes on related income pursuant to Section 501(a) of the IRC. The College follows the authoritative guidance issued by 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 College conducts business solely in the U.S. and, as a result, files income tax returns for the United States and Illinois. In the normal course of business, the College is subject to examination by taxing authorities. The College's tax returns for years subsequent to fiscal year 2007 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 College currently files or has filed with. (From Note 2 of Knox College Financial Statements and Independent Auditor's Report For the Years Ended June 30, 2011 and 2010.) SchD_P11_S00_L08 Schedule D, Part XI, Line 8 Change in fair value of interest rate SWAPS $932,051 and Actuarial adjustments of amounts due under annuity and life income agreements ($204,717). SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Student Aid, Scholarships, and Prizes $20,753,851. SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Student Aid, Scholarships, and Prizes $20,753,851. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SchE_P01_S00_L03 Schedule E, Part I, Line 3 Knox College's nondiscrimination policy is clearly stated in the College catalog, website, admissions materials, applications, and other publications. SchE_P01_S00_L06 Schedule E, Part I, Line 6 For the fiscal year , Knox College received awards from the following federal programs: Federal Work Study, Federal Direct Loan Program, Federal Supplemental Educational Opportunity Grant Program, Federal Pell Grant, Federal Perkins Loan Program, Academic Competitiveness Grant, SMART Grant, Student Support Services Program, McNair Post-Baccalaureate Achievement, Higher Educational Institutional Aid, College Access Grant, Alcohol Research Programs, Chapter 33-Post 911 GI Bill, Department of the Interior Save America's Treasures, and Lincoln Studies Center. 1 South America 1 1 Program Services Buenos Aires In cooperation with the University of Palermo in Buenos Aires, Knox offers a term of accredited academic study specially designed to emphasize the social sciences and language. Program offerings vary, but recent courses have included: Introduction to Anthropology, Popular Culture in Latin America, Argentine Society, Social Thought, and Culture, Latin American Art, History of 20th Century Latin America, Politics and Government in Latin America, Evolution of Argentine Society, Latin American Literature, Advanced Spanish Language, and Social Cinema of Argentina. Courses are taught in Spanish by University of Palermo professors. All students take a language course (which includes two educational trips outside Buenos Aires, and several within the city) and pursue a combination of electives, mostly chosen from those offered by the program. 180800 Europe (including Iceland and Greenland) 1 1 Program Services France Besancon The Knox program is the principal American program at the University in Besancon is a city of 120,000 people, with 20,000 students at the University. Participants take courses for foreign students in language and culture, plus several courses chosen from the regular University curriculum to meet individual needs. All courses are taught in French by the University of Besancon professors. Students with majors other than French may continue study in their major fields. All students stay with French families for the October orientation period, then live during the year or term in University dormitories with French and foreign students. in University dormitories with French and foreign students. 227725 Europe (including Iceland and Greenland) 1 1 Program Services Spain-Barcelona Knox, in cooperation with the University of Barcelona, offers academic study in language, the humanities and the social sciences. Students pursue a combination of courses, all taught in Spanish by professors from the University of Barcelona. Some of the courses are fitted to the particular needs of program students; other courses are from the regular University curriculum offered to Spanish students. All students live in the homes of Spanish families in Barcelona. The program has a two-week trip throughout southern Spain during Winter Break as well as other shorter educational field trips. 494249 3 3 902774 Scholarships Central America and the Caribbean 1 18175 Credit to student tuition and fees 0 Scholarships East Asia and the Pacific 52 872366 Credit to tuition and fees 0 Scholarships Europe (including Iceland and Greenland) 13 190280 Credit to tuition and fees 0 Scholarships Middle East and North Africa 1 18000 Credit to tution and fees 0 Scholarships North America (including Canada and Mexico, but not the United States) 4 78711 Credit to tuition and fees 0 Scholarships Russia and the newly independent States 1 11744 Credit to tuition and fees 0 Scholarships South Asia 18 324429 Credit to tuition and fees 0 Scholarships Sub-Saharan Africa 9 134041 Credit to tuition and fees 0 0 0 0 0 0 0 SchF_P01_S00_L02 Schedule F, Part I, Line 2 To remain at Knox, all degree-seeking students are expected to make satisfactory academic progress. Satisfactory progress is defined both in terms of the accumulation of credits toward the degree, and as the maintenance of a gradepoint average consistent with graduation requirements. The Financial Aid Office follows the decisions of the Academic Standing Committee in determining whether a student is meeting the College's satisfactory academic progress standards X X X X X X 1 Ruffalo Cody and Association 65 Kirkwood North Rd SW Cedar Rapids IA 52406 Provide telephone fundraising services and were hired to oversee the College's Phonathon. 0 556288 83878 472410 556288 83878 472410 AL AZ CA CO CT FL GA IL KS KY MD MI MN MO NC ND NH NJ NY OH OK OR PA SC SD TN UT WA WI SchG_P01_S00_L03 Schedule G, Part I, Line 3 Schedule G, Part I, Line 3 The College references the American Council on Gift Annuities (ACGA) web site that covers state regulations for gift annuities. Of the 14 states that require some form of registration, the College currently maintains registrations in Florida and Maryland. The College has form letters for those states that merely require some form of notice. 1 Individual gift aid (grants and/or scholarships to students). 1306 19106105 0 SchI_P01_S00_L02 Schedule I, Part I, Line 2 To remain at Knox, all degree-seeking students are expected to make satisfactory academic progress. Satisfactory progress is defined both in terms of the accumulation of credits toward the degree, and as the maintenance of a gradepoint average consistent with graduation requirements. The Financial Aid Office follows the decisions of the Academic Standing Committee in determining whether a student is meeting the College's satisfactory academic progress standards. X X X 1 1 X X 0 0 0 0 0 0 0 0 0 Taylor Roger L 180254 0 0 0 0 0 22437 0 12000 0 214691 0 0 0 Breitborde Lawrence B 146146 0 0 0 0 0 20351 0 0 0 166497 0 0 0 Axtell Thomas B 137056 0 0 0 0 0 19881 0 0 0 156937 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a Occasionally the President's wife will accompany the President on College fund raising events. The College provides funding for her travel costs. These travel costs are not considered compensation as she is participating in the fundraising for the College. The President is provided housing by the College. The President's house is considered a part of the College's campus and is used for College events and entertaining. The President's housing is considered nontaxable as it was provided to him for the convenience of the College. The College also provides dues for the President for Soangataha Country Club in Galesburg, Illinois. These dues are paid for access to the Club's dining facilities and are considered to be attributed to the College's fund raising activities and not taxable compensation. Reimbursements for travel costs and payment of club dues must follow the College's purchasing and accounts payable policies. These policies include requirements for documentation and receipts. SchJ_P01_S00_L03 Schedule J, Part I, Line 3 Compensation is reviewed annually. This review includes cost of living statistics, compensation paid for similar positions at other similar colleges, and compensation paid locally for like positions. A standard achievement increase is determined and is approved by the Board of Trustees during the June meeting in conjunction with the approval of the following year's budget. The Board of Trustees reviews the President's salary and approves any changes. All staff increases are reviewed by the President, Vice Presidents, and heads of departments. X 50 1610085 Ave.High/Low MV 0 0 1 0 F990_P06_S0B_L11a Form 990, Part VI, Section B, Line 11a The 990 is reviewed by the Audit Committee prior to filing the return. The 990 is made available to all College Trustees for review. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c Officer's Conflict of Interest: Any conflict of interest on the part of an officer of the College designated in this article, or members of such officer's immediate family, shall be disclosed by the officer in writing to the Board of Trustees at least annually and made a matter of record. When any such interest becomes relevant to any subject requiring administration or Board of Trustees' action, the officer having a conflict shall call it to the attention of the President and, if the matter is being considered by the Board of Trustees or one of its committees, to the attention of the Board or such committee. The officer shall not participate in the discussion of the subject or make any recommendations regarding the subject in which the officer or a member of the officer's immediate family has a conflict of interest, and shall not use personal influence to affect the decision with respect to such subject. An officer of the College who is excluded from participating in discussions or making recommendations regarding the subject because of such conflict or interest shall, however, briefly state the nature of the conflict and shall be encouraged to answer pertinent questions of the Trustees when the officer's knowledge of the subject will assist the Board of Trustees, any of its committees or the administration. The minutes of any meeting attended by the interested officer at which the subject is discussed shall reflect that a disclosure was made and that the interested officer abstained from the discussion except to the extent provided above. (From Bylaws of Knox College) F990_P06_S0B_L13 Form 990, Part VI, Section B, Line 13 Each year, during fall term, a memo is sent via e-mail to all employees reminding them of Knox College's "common sense approach to reporting fraud". Included in this message are instructions on how to report suspected fraud. This memo includes the following instructions: "If you suspect fraud, please immediately notify someone in a position of authority, for example, your supervisor, a department head, a dean or vice president, pro bono counsel, the president or trustee who chairs the audit committee." F990_P06_S0B_L14 Form 990, Part VI, Section B, Line 14 The College does not have a written document retention and destruction policy, however, record retention and destruction policies are developed, as needed, by each department to address their specific type(s) of records. Departments follow industry standards that are appropriate for their specific type(s) of records. In conjunction with record destruction for confidential records, the College contracted with a vendor to provide locked bins for departmental us and the secure destruction of these records. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 Compensation is reviewed annually. This review includes cost of living statistics, compensation paid for similar positions at other similar colleges, and compensation paid locally for like positions. A standard achievement increase is determined and is approved by the Board of Trustees during the June meeting in conjunction with the approval of the following year's budget. The Board of Trustees reviews the President's salary and approves any changes. All staff increases are reviewed by the President, Vice Presidents, and heads of departments. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 The Bylaws of the College are available on the College's website (www.knox.edu). Each fall, conflict of interest forms are distributed to trustees, officers, and department heads. Financial statements are available upon request to the Treasurer's Office. All trustees are provided copies of the financial statements each year. F990_P11_S00_L05 Form 990, Part XI, Line 5 Other Changes In Net Assets includes the change in the fair value of interest rate SWAPS $932,051 less actuarial adjustments for annuity and life income agreements $204,717. Unrealized Gains $10,845,210. We filed form 8868 Application for Extension of Time to File and have been granted an extension until February 15, 2012. IRS has announced a two month suspension of e-file operations (January 2012 and February 2012) and e-filing of our 990 will not be possible until March 2012. The IRS has issued an automatic extension to March 30, 2012. IRS Notice 2012-4