2011-11-14T08:08:27-06:00 2011-06-30 BAKER TILLY VIRCHOW KRAUSE LLP 115 SOUTH 84TH STREET SUITE 400 MILWAUKEE WI 53214 990 2010-07-01 390806325 CARROLL UNIVERSITY INC CARR 2625247200 100 N EAST AVENUE WAUKESHA WI 53186 RONALD LOSTETTER 2625247200 2011-11-11 1 TROY E MARINE CPA 4147775500 2011-11-11 2010 2016-03-07 17:11:31Z DOUGLAS HASTAD 100 N EAST AVENUE WAUKESHA WI 53186 130670744 0 X WWW.CARROLLU.EDU X 1846 WI WE WILL PROVIDE A SUPERIOR EDUCATIONAL OPPORTUNITY TO OUR STUDENTS, ONE GROUNDED IN THE LIBERAL ARTS TRADITION AND FOCUSED ON CAREER PREPARATION AND LIFELONG LEARNING. WE WILL DEMONSTRATE CHRISTIAN VALUES BY OUR EXAMPLE. WE SHALL SUCCEED IN OUR MISSION WHEN OUR GRADUATES ARE PREPARED FOR CAREERS OF THEIR CHOICE AND LIVES OF FULFILLMENT, SERVICE AND ACCOMPLISHMENT. 26 25 2718 0 321091 0 5196321 4871475 75481300 80920772 1856830 1961667 556754 453498 83091205 88207412 25491543 27942350 0 0 1149189 1355335 0 0 1469646 49315637 51512964 75956369 80810649 7134836 7396763 120960866 131846381 25167735 22751350 95793131 109095031 X WE WILL PROVIDE A SUPERIOR EDUCATIONAL OPPORTUNITY TO OUR STUDENTS, ONE GROUNDED IN THE LIBERAL ARTS TRADITION AND FOCUSED ON CAREER PREPARATION AND LIFELONG LEARNING. WE WILL DEMONSTRATE CHRISTIAN VALUES BY OUR EXAMPLE. WE SHALL SUCCEED IN OUR MISSION WHEN OUR GRADUATES ARE PREPARED FOR CAREERS OF THEIR CHOICE AND LIVES OF FULFILLMENT, SERVICE AND ACCOMPLISHMENT. 1 0 23632799 69345494 INSTRUCTION & ACADEMIC SUPPORT - SERVICES PROVIDED TO SUPPORT STUDENTS IN THE CLASSROOM AND SUPPORT OF CLASSROOM. 47752854 27942350 11575278 AUXILIARY & STUDENT SERVICES - SERVICES PROVIDED TO STUDENTS NOT RELATED TO THE CLASSROOM SUCH AS DORMITORY CHARGES AND BOARD PLANS AND SERVICES TO STUDENTS THAT ARE RELATED TO ACTIVITIES OUTSIDE THE CLASSROOM SUCH AS ATHLETICS, FINANCIAL AID AND ADMISSION. 6046132 0 INSTITUTIONAL SUPPORT - SERVICES THAT SUPPORT THE ADMINISTRATIVE FUNCTIONS OF THE INSTITUTION INCLUDING DEPRECIATION, DEPLETION AND AMORTIZATION. 77431785 1 1 0 0 0 0 0 0 1 1 0 0 0 1 0 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 1 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 1 74 0 2718 1 1 1 0 0 0 0 1 1 0 0 0 0 X 26 25 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AZ IL KY LA ME MD MA MI MO NH NJ NY OH OK OR WA WI UT X RONALD LOSTETTER 2625247200 100 N EAST AVENUE WAUKESHA WI 53186 ALICE J MORAVA 1.00 X 0 0 0 ANTHONY BRYANT 1.00 X 0 0 0 BLANE DEXHEIMER 1.00 X 0 0 0 CHARMAINE PONKRATZ 1.00 X 0 0 0 CINDY MAYORAS 1.00 X 0 0 0 DAVID J VETTA 1.00 X 0 0 0 DEBORAH BLOCK 1.00 X 0 0 0 DENNIS PUNCHES 1.00 X 0 0 0 E JOHN RAASCH 1.00 X 0 0 0 GUY DISPIGNO 1.00 X 0 0 0 JAMES DEJONG 1.00 X 0 0 0 JAMES SCHNEIDER 1.00 X 0 0 0 JEFFREY T CUMMISFORD 1.00 X 0 0 0 JOANNE BRANDES 1.00 X 0 0 0 JOSE OLIVIERI 1.00 X 0 0 0 MARNA TESS-MATTNER 1.00 X 0 0 0 PERSHING E MACALLISTER 1.00 X 0 0 0 RUSSEL HARLAND 1.00 X 0 0 0 STEVEN C MILLER 1.00 X 0 0 0 TED BAKER 1.00 X 0 0 0 TERRY M MURPHY 1.00 X 0 0 0 THOMAS A QUADRACCI 1.00 X 0 0 0 TIMOTHY HANDO 1.00 X 0 0 0 TIMOTHY SULLIVAN 1.00 X 0 0 0 TY TAYLOR 1.00 X 0 0 0 DOUGLAS HASTAD 40.00 X 358974 0 59409 JAMES V WISEMAN III 40.00 X 190120 0 28824 JOANNE PASSARO 40.00 X 190271 0 43731 RONALD LOSTETTER 40.00 X 200258 0 48771 STEPHEN KUHN 40.00 X 196863 0 38113 DEBRA JENKINS 40.00 X 138519 0 26778 GREGORY KUHLEMEYER 40.00 X 117319 0 17470 JANE HOPP 40.00 X 137774 0 12625 LELAN MCLEMORE 40.00 X 108312 0 17444 THERESA BARRY 40.00 X 117872 0 17240 1756282 0 310405 13 0 1 0 MICHAEL BEST & FRIEDRICH 100 E WISCONSIN AVENUE MILWAUKEE WI 53202 LEGAL SERVICES 177315 TIME WARNER CABLE 1610 N 2ND STREET PO BOX 3237 MILWAUKEE WI 532013237 CABLE 150851 REGIS UNIVERSITY 990 S BROADWAY SUITE 300 DENVER CO 80209 ONLINE LEARNING 128425 JENZABAR 1450 TECHNOLOGY DRIVE HARRISONBURG VA 22802 HIGHER EDUCATION SOFTWARE 100050 4 49863 1861226 2960386 37452 4871475 TUITION AND FEES 900099 69345494 69345494 AUXILIARY ENTERPRISES 611710 11575278 11575278 80920772 784264 784264 43603577 42347735 78439 1255842 -78439 1177403 1177403 30700 49863 37158 -6458 -6458 SUMMER CONFERENCES 721000 321091 321091 OTHER INCOME 900099 138865 138865 459956 88207412 80920772 321091 2094074 27942350 27942350 1355335 1177126 178209 3069253 2557286 511967 INSTRUCTION 16367883 16367883 AUXILIARY ENTERPRISES 10759549 10759549 STUDENT SERVICES 7710776 7710776 INSTITUTIONAL SUPPORT 7337570 6046133 1291437 ACADEMIC SUPPORT 6047808 6047808 220125 220125 80810649 77431785 1909218 1469646 2708028 990431 1663113 1673956 2350445 2719480 4015157 4000375 1034879 1357960 103496590 47109642 53552006 56386948 54673830 63884008 963408 833223 120960866 131846381 3642091 2784655 1059074 991048 12653386 11469319 7813184 7506328 25167735 22751350 X 43222482 49839997 19299072 24984490 33271577 34270544 95793131 109095031 120960866 131846381 X 7396763 5905137 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 32697229 2792396 6432690 41922315 28642168 1197554 2857507 32697229 39757097 663233 -11196575 581587 28642168 0.79360 0.20630 1 0 5889720 5889720 66066760 25685697 40381063 5308053 2356352 2951701 17189147 11252661 5936486 9042910 7814932 1227978 56386948 LIABILITIES UNDER SPLIT INTEREST AGREEMENTS 1334665 DEFERRED COMPENSATION 604162 ASSET RETIREMENT OBLIGATION 2615510 U.S. GOVERNMENT GRANTS REFUNDABLE 2818835 OTHER LIABILITIES 133156 7506328 88207412 80810649 7396763 5319779 585358 5905137 13301900 66183204 5319779 585359 5905138 60278066 27929346 27929346 88207412 52881304 13004 13004 52868300 27942350 27942350 80810650 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ENDOWMENT FUNDS ARE USED TO SUPPORT ACADEMIC PROGRAMS AND SCHOLARSHIPS. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGES IN VALUES OF SPLIT INTEREST AGREEMENTS 585,358. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGES IN VALUES OF SPLIT INTEREST AGREEMENTS 585,359. PART XII, LINE 4B - OTHER ADJUSTMENTS: OTHER DIRECT FUND RAISING EXPENSE -37,158. GRANTS AND OTHER ASSISTANCE TO INDIVIDUALS 27,942,350. LOSS ON DISPOSAL OF FIXED ASSET -78,439. EXCESS WITHDRAWALS OVER INCOME EARNED 102,593. PART XIII, LINE 2D - OTHER ADJUSTMENTS: OTHER DIRECT FUND RAISING EXPENSE 37,158. LOSS ON DISPOSAL OF FIXED ASSET 78,439. EXCESS WITHDRAWALS OVER INCOME EARNED -102,593. PART XIII, LINE 4B - OTHER ADJUSTMENTS: GRANTS AND OTHER ASSISTANCE TO INDIVIDUALS 27,942,350. 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 THE FOLLOWING WAS PUBLISHED IN THE STUDENT HANDBOOK AND BROCHURES USED FOR THE RECRUITMENT OF STUDENTS "CARROLL UNIVERSITY DOES NOT DISCRIMINATE IN ANY MANNER CONTRARY TO LAW OR JUSTICE ON THE BASIS OF RACE, COLOR, SEX, AGE, RELIGION, SEXUAL ORIENTATION, NATIONAL ORIGIN, DISABILITY OR VETERANS STATUS IN ADMINISTRATION OF ITS EDUCATIONAL, ADMISSION, FINANCIAL AID, ATHLETIC, OR OTHER UNIVERSITY POLICIES AND PROGRAMS NOR IN THE EMPLOYMENT OF ITS FACULTY AND STAFF" EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 FINANCIAL AID AT CARROLL UNIVERSITY, INC. IS AVAILABLE TO STUDENTS WHO ARE DEGREE CANDIDATES, FOLLOWING GUIDELINES ESTABLISHED BY THE UNIVERSITY, THE U.S. DEPARTMENT OF EDUCATION AND THE WISCONSIN HIGHER EDUCATIONAL BOARD. THE UNIVERSITY RECEIVED FUNDS FROM THE FOLLOWING PROGRAMS ADMINISTERED BY THE U.S. DEPARTMENT OF EDUCATION AND HEALTH AND HUMAN SERVICES AND THE WISCONSIN HIGHER EDUCATION AIDS BOARD: FEDERAL PELL GRANT PROGRAM, FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT PROGRAM, ACADEMIC COMPETITIVENESS GRANT, NATIONAL SMART GRANT, TEACH GRANT, FEDERAL PERKINS LOAN PROGRAM, FEDERAL COLLEGE WORK STUDY PROGRAM, FEDERAL STAFFORD LOANS, PARENTS' LOAN PROGRAM, NATIONAL SCIENCE FOUNDATION, WISCONSIN TUITION GRANT, WISCONSIN TIP GRANT, WISCONSIN MINORITY GRANT, WISCONSIN HANDICAP GRANT, WISCONSIN INDIAN GRANT, WISCONSIN ACADEMIC EXCELLENCE SCHOLARSHIP, WISCONSIN DEPARTMENT OF PUBLIC INSTRUCTIONS, AND DOCTOR OF PHYSICAL THERAPY PROGRAM GRADUATE SCHOLARSHIP FOR DISADVANTAGED STUDENTS. WINE & BEER TASTING EVENT 3650 1210 2440 4601 PIONEER GOLF CLASSIC 76913 48653 28260 32557 80563 49863 30700 37158 37158 -6458 1 SCHOLARSHIPS 2869 27942350 FMV PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE ORGANIZATION MAINTAINS A POLICY AND PROCEDURES MANUAL WHICH OUTLINES THE ORGANIZATION'S POLICY ON AWARDING FEDERAL, STATE, AND INSTITUTIONAL ASSISTANCE TO STUDENTS. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 DOUGLAS HASTAD 352804 0 0 0 6170 0 25000 0 34409 0 418383 0 0 0 JAMES V WISEMAN III 189253 0 0 0 867 0 10000 0 18824 0 218944 0 0 0 JOANNE PASSARO 189551 0 0 0 720 0 20000 0 23731 0 234002 0 0 0 RONALD LOSTETTER 197613 0 0 0 2645 0 20000 0 28771 0 249029 0 0 0 STEPHEN KUHN 186346 0 0 0 10517 0 10000 0 28113 0 234976 0 0 0 DEBRA JENKINS 137177 0 0 0 1342 0 0 0 26778 0 165297 0 0 0 JANE HOPP 137387 0 0 0 387 0 0 0 12625 0 150399 0 0 0 BANK OF NEW YORK 953571558 97710VE46 2006-05-03 6326043 BUILDING IMPROVEMENT 0 0 0 6326043 496805 126521 6305000 2008 0 0 1 1 0 0 0 0 1 1 1 0 0 0 0 0 DISCLOSURE SUBJECT TO FERPA LAWS 47164 SCHOLARSHIP BENECO INC STEVE MILLER IS PRESIDENT OF BENECO, INC. & A TRUSTEE OF ORGANIZATION CARROLL UNIVERSITY ALSO ENGAGED BENECO, INC. DURING THE YEAR ENDED JUNE 30, 2011 TO CONSULT THE UNIVERSITY ON INSURANCE PLAN ARRANGEMENTS. STEVE MILLER, WHO IS ON THE CARROLL UNIVERSITY BOARD OF TRUSTEES, SERVES AS PRESIDENT OF BENECO, INC.. BENECO, INC. RECEIVES COMMISSIONS FROM INSURANCE VENDORS BASED ON CARROLL UNIVERSITY'S INSURANCE CONTRACT CHOICES. CARROLL UNIVERSITY DOES NOT PAY ANY COMMISSIONS DIRECTLY TO BENECO, INC. 0 QUADGRAPHICS THOMAS QUADRACCI IS CEO OF QUADRAPHICS & A TRUSTEE OF ORGANIZATION DURING THE YEAR ENDED JUNE 30, 2011, CARROLL UNIVERSITY ALSO CONTRACTED WITH QUADGRAPHICS TO PRINT COURSE CATALOGS AND OTHER MATERIALS FOR THE UNIVERSITY. THOMAS QUADRACCI, WHO IS ON THE CARROLL UNIVERSITY BOARD OF TRUSTEES, IS CHAIRMAN AND CEO OF QUADGRAPHICS. THE PURCHASE OF PRINTED MATERIALS FROM QUADGRAPHICS WAS CONDUCTED IN AN ARMS LENGTH TRANSACTION. 0 WAUKESHA STATE BANK TY TAYLOR IS PRESIDENT OF WAUKESHA STATE BANK & A TRUSTEE OF THE ORG DURING THE YEAR ENDED JUNE 30, 2011, CARROLL UNIVERSITY ENGAGED IN BUSINESS WITH WAUKESHA STATE BANK. TY TAYLOR, WHO IS ON THE CARROLL UNIVERSITY BOARD OF TRUSTEES, IS PRESIDENT OF WAUKESHA STATE BANK. ALL BUSINESS THAT WAS CONDUCTED WAS AN ARMS LENGTH TRANSACTION. 0 FIRST BUSINESS BANK DAVID J. VETTA IS PRES. AND CEO OF FIRST BUSINESS BANK & TRUSTEE OF THE ORG DURING THE YEAR ENDED JUNE 30, 2011, CARROLL UNIVERSITY ENGAGED IN BUSINESS WITH FIRST BUSINESS BANK. DAVID J. VETTA, WHO IS ON THE CARROLL UNIVERSITY BOARD OF TRUSTEES, IS PRESIDENT AND CEO AT FIRST BUSINESS BANK. ALL BUSINESS THAT WAS CONDUCTED WAS AN ARMS LENGTH TRANSACTION. 0 MICHAEL BEST & FRIEDRICH LLP JOSE OLIVIERI IS A PARTNER AT MICHAEL BEST & A TRUSTEE OF THE ORGANIZATION DURING THE YEAR ENDING JUNE 30, 2011, CARROLL UNIVERSITY ENGAGED IN BUSINESS WITH MICHAEL BEST & FRIEDRICH LLP. JOSE OLIVIERI, WHO IS ON THE CARROLL UNIVERSITY BOARD OF TRUSTEES, IS A PARTNER AT MICHAEL BEST & FRIEDRICH LLP. ALL BUSINESS THAT WAS CONDUCTED WAS AN ARMS LENGTH TRANSACTION. 0 BRANDES LAKE LEADERSHIP LLC JOANNE BRANDES IS PRESIDENT OF BRANDES LAKE & A TRUSTEE OF THE ORGANIZATION DURING THE YEAR ENDING JUNE 30, 2011, CARROLL UNIVERSITY ENGAGED IN BUSINESS WITH BRANDES LAKE LEADERSHIP LLC. JOANNE BRANDES, WHO IS ON THE CARROLL UNIVERSITY BOARD OF TRUSTEES, IS CO-PRESIDENT OF BRANDES LAKE LEADERSHIP LLC. ALL BUSINESS THAT WAS CONDUCTED WAS AN ARMS LENGTH TRANSACTION. 0 X 8 16426 APPRAISAL X 5 37452 FMV X PIANO 1 8000 APPRAISAL 0 1 0 NEW PROGRAM SERVICES FORM 990, PART III, LINE 2 MASTER OF BUSINESS ADMINISTRATION DEGREE - THE MBA DEGREE INCLUDES COURSEWORK IN ECONOMICS, ACCOUNTING, LEADERSHIP, QUANTITATIVE ANALYSIS, MARKETING, FINANCE, BUSINESS ETHICS, OPERATIONS & SUPPLY CHAIN MANAGEMENT, AND BUSINESS POLICY & STRATEGY. THE GENERAL FOCUS WILL PROVIDE STUDENTS WITH A BROADER AND DEEPER KNOWLEDGE BASE OF THE BUSINESS WORLD. MASTER OF SCIENCE IN PHYSICIAN ASSISTANT STUDIES - THE MSPAS PROGRAM CURRICULUM INCLUDES CORE KNOWLEDGE ABOUT THE ESTABLISHED & EVOLVING BIOMEDICAL, CLINICAL PREPARATORY, BEHAVIORAL AND SOCIAL SCIENCES; INFORMATIONAL LITERACY; HEALTH POLICY & PROFESSIONAL PRACTICE; & THE APPLICATION OF THIS KNOWLEDGE TO PATIENT CARE THROUGH SUPERVISED CLINICAL PRACTICE & PRACTICUMS. THE CURRICULUM WILL PREPARE STUDENTS FOR CLINICAL PRACTICE OF MEDICINE & ASSIST STUDENTS IN BECOMING CRITICAL THINKERS WHO CAN APPLY THE CONCEPTS OF MEDICAL DECISION-MAKING AND PROBLEM SOLVING. GRADUATES WILL ALSO BE PREPARED TO PROVIDE SERVICE TO MEDICALLY UNDESERVED COMMUNITIES & DIVERSE PATIENT POPULATIONS. FORM 990, PART VI, SECTION A, LINE 2 TOM QUADRACCI AND JAMES WISEMAN - FAMILY RELATIONSHIP FORM 990, PART VI, SECTION B, LINE 11 THE ORGANIZATION'S AUDIT COMMITTEE REVIEWS THE FORM 990 PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL TRUSTEES RECEIVE A CONFLICT OF INTEREST POLICY THAT THEY READ AND SIGN. ALL FORMS ARE RETAINED BY THE UNIVERSITY. ADDITIONALLY, THE UNIVERSITY REQUESTS ANNUALLY FROM TRUSTEES AND HIGHLY COMPENSATED EMPLOYEES IF THEY HAVE CONFLICT OF INTEREST WITH ANY OF OUR TOP FIVE VENDORS OR OTHER TRUSTEES AND HIGHLY COMPENSATED INDIVIDUALS. FORM 990, PART VI, SECTION B, LINE 15 THE BYLAWS OF CARROLL UNIVERSITY, INC. ESTABLISH A COMPENSATION COMMITTEE THAT HAS GENERAL OVERSIGHT OF THE UNIVERSITY'S COMPENSATION PLAN. SPECIFIC DUTIES OF THE COMMITTEE INCLUDE THE RESPONSIBILITY TO: (A)REQUEST AND REVIEW, ON AT LEAST AN ANNUAL BASIS, THE COMPENSATION POLICIES FOR THE UNIVERSITY, INCLUDING ALL PERTINENT AND CURRENT COMPENSATION STUDIES, FORECASTS AND STATISTICS TO ENSURE THAT COMPENSATION IS NOT ONLY REASONABLE, BUT ALSO APPROPRIATE AND COMPETITIVE TO ATTRACT AND RETAIN QUALIFIED PERSONNEL, INCLUDING THE PRESIDENT AND OTHER KEY EMPLOYEES. THE COMMITTEE MAY ALSO CONSIDER INPUT OBTAINED FROM OTHER MEMBERS OF THE BOARD, FACULTY, STAFF, STUDENTS, ALUMNI AND COMMUNITY MEMBERS. AN ANNUAL REPORT REGARDING THIS REVIEW SHALL BE PRESENTED TO THE FULL BOARD. (B)RECOMMEND TO THE BOARD, FOR APPROVAL, COMPENSATION CHANGES FOR THE PRESIDENT AND OTHER KEY EMPLOYEES OF THE UNIVERSITY. DURING SUCH DELIBERATIONS, THE PRESIDENT AND OTHER KEY EMPLOYEES SHALL NOT BE PRESENT WHEN DISCUSSED. (C)OVERSEE THE DEVELOPMENT WHEN APPROPRIATE, THE EXECUTIVE AGREEMENT FOR THE PRESIDENT OF THE UNIVERSITY. (D)PERFORM ANY/ALL OTHER ACTIVITIES, AS REQUESTED BY THE BOARD THAT RELATE TO THE OVERSIGHT OF COMPENSATION FOR THE PRESIDENT OF THE UNIVERSITY AND OTHER KEY EMPLOYEES OF THE UNIVERSITY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 5,319,779. CHANGES IN VALUES OF SPLIT INTEREST AGREEMENTS 585,358. TOTAL TO FORM 990, PART XI, LINE 5: 5,905,137.