2011-05-16T13:38:16-05:00 2010-06-30 KPMG LLP 1 East Pratt Street Baltimore MD 212021128 990 2009-07-01 520705392 STEVENSON UNIVERSITY STEV 4104867000 1525 GREENSPRING VALLEY ROAD STEVENSON MD 21153 KEVIN J MANNING 2011-05-16 4109498500 2009 2016-02-24 21:20:13Z Kevin J Manning 1525 GREENSPRING VALLEY RD Stevenson MD 21153 90794114 false X WWW.STEVENSON.EDU X 1959 MD THE UNIVERSITY IS AN INDEPENDENT COEDUCATIONAL FOUR-YEAR UNIVERSITY, WHICH OFFERS MASTER'S, BACHELOR'S, AND ASSOCIATE'S DEGREES TO APPROX. 2,930 FULL-TIME EQUIVALENT STUDENTS IN A VARIETY OF ACADEMIC PROGRAMS. 23 22 1385 75 146254 -10010 8895692 9317978 69571962 75607281 695984 1867915 909905 854882 80073543 87648056 16846653 20147227 0 0 33206613 35188500 0 0 1475064 30100523 31428840 80153789 86764567 -80246 883489 199586558 203312424 132266465 133171175 67320093 70141249 THE UNIVERSITY IS AN INNOVATIVE, COEDUCATIONAL, INDEPENDENT INSTITUTION OFFERING UNDERGRADUATE AND GRADUATE STUDENTS A CAREER-FOCUSED EDUCATION MARKED BY INDIVIDUALIZED ATTENTION, CIVILITY, AND RESPECT FOR DIFFERENCE. THE UNIVERSITY BLENDS THE LIBERAL ARTS WITH CAREER EXPLORATION AND PLANNING, COMPLEMENTING A TRADITIONAL EDUCATION WITH APPLIED LEARNING BEYOND THE CLASSROOM. THE UNIVERSITY MEETS STUDENTS WHERE THEY ARE AND SUPPORTS THE CHALLENGES THEM TO BECOME REFLECTIVE AND ACCOMPLISHED INDIVIDUALS COMMITTED TO A LIFETIME OF LEARNING AND CONTRIBUTION. STUDENTS GRADUATE WITH THE COMPETENCE AND CONFIDENCE NEEDED TO ADDRESS CREATIVLEY THE OPPORTUNITIES AND PROBLEMS FACING THEIR COMMUNITIES, THE NATION AND THE WORLD. false false 43478525 0 75607281 STEVENSON UNIVERSITY IS A FOUR YEAR UNIVERSITY PROVIDING EDUCATIONAL SERVICES TO APPROXIMATELY 2,619 FULL TIME, 557 PART TIME AND 256 GRADUATE STUDENTS. 20147227 20147227 0 THE NUMBER OF STUDENTS RECEIVING GRANTS IS AS FOLLOWS: PELL 804, SEOG 135, WORK STUDY 115, PERKINS 4, FEDERAL SMART 23, FEDERAL DIRECT SUB 1,620, FEDERAL DIRECT UNSUB 1,853, FEDERAL DIRECT PARENT 690, STEVENSON GRANTS AND SCHOLARSHIPS 2,238 AND ACADEMIC COMPETITIVE 161 STUDENTS. 63625752 true true false true false false false false true true true false true false true false true false true false false false true true true false false false false false false false false false true true false false false true false false false false true 211 0 true 1385 true true true false BD false false false true true false false false 23 22 false false false false false false false true true false false true true true true true false true true false MD X MELANIE EDMONDSON 4433342272 1525 GREENSPRING VALLEY RD STEVENSON MD 21153 WALTER G AMPREY PHD 1.0 X 0 0 0 BARRY B BONDROFF CPA 1.0 X 0 0 0 THOMAS F BRADY 1.0 X 0 0 0 ROBERT C BRENNAN 1.0 X 0 0 0 MARC G BUNTING 1.0 X 0 0 0 KEVIN G BYRNES 1.0 X 0 0 0 MARY CLAIRE CHESSHIRE ESQ 1.0 X 0 0 0 BARBARA DANNETTEL 1.0 X 0 0 0 SAMUEL M DELL III 1.0 X 0 0 0 HENRY D FELTON IV 1.0 X 0 0 0 JAMES T BRADY 1.0 X 0 0 0 JANET D KELLY 1.0 X 0 0 0 BRADLEY T MACDONALD 1.0 X 0 0 0 TIMOTHY F MALONEY ESQ 1.0 X 0 0 0 ACKNEIL M MULDROW II 1.0 X 0 0 0 THE HONORABLE EDWARD P MURPHY 1.0 X 0 0 0 SHEELA MURTHY ESQ 1.0 X 0 0 0 MARSHALL B PAUL ESQ 1.0 X 0 0 0 T SCOTT PUGATCH 1.0 X 0 0 0 FRANCIS X PUGH ESQ 1.0 X 0 0 0 WILLIAM T RILEY JR CPA 1.0 X 0 0 0 ANNA L SMITH 1.0 X 0 0 0 JAMES B STRADTNER CFA 1.0 X 0 0 0 W DANIEL WHITE 1.0 X 0 0 0 BONNIE CASLOW ALLAN 1.0 X 0 0 0 KEVIN J MANNING 40.0 X 1465293 0 28362 TIMOTHY M CAMPBELL 40.0 X 228924 0 58422 PAUL D LACK 40.0 X 332612 0 27449 STEVENSON W CLOSE 40.0 X 195192 0 22376 BRENDA BALZER 40.0 X 140970 0 12778 STEVE ENGORN 40.0 X 124748 0 11628 GLENDA LEGENDRE 40.0 X 132380 0 11091 MELANIE EDMONDSON 40.0 X 142984 0 21689 MARK HERGAN 40.0 X 130052 0 18588 2893155 0 212383 18 false true false Wright Express Financial Services 33548 Treasury Center Chicago IL 60694 CREDIT CARDS 5662000 Sodexho Operations Inc 1525 Greenspring Valley Road Stevenson MD 21153 FOOD SERVICE 3415190 T Rowe Price Associates Inc PO Box 17479 Baltimore MD 21298 RETIREMENT FUNDING 3115542 CareFirst BlueCross BlueShield PO Box 79051 Baltimore MD 21279 HEALTH CARE 3012958 Constellation New Energies 14217 Collections Ctr Drive Carol Stream IL 60132 UTILITIES 2631486 50 7294989 2022989 357692 9317978 TUITION & FEES 900099 60296725 60296725 STUDENT HOUSING 532000 9362010 9362010 FOOD SERVICE 721000 3855669 3855669 BOOK STORE 451211 2092877 2092877 75607281 914993 -7885 922878 0 0 722620 722620 722620 154139 568481 4014975 3062053 952922 952922 952922 52312 84005 -31693 -31693 0 0 ATHLETICS 900099 62098 62098 DEPARTMENT REVENUE 900099 49611 49611 PARKING 812930 24738 24738 27508 27508 163955 87648056 75607281 146254 2576543 0 19152286 19152286 994941 994941 0 2139275 344216 1521213 273846 0 26501946 22094639 3655517 751790 1186980 959658 187955 39367 3449034 1601801 1762799 84434 1911265 1601396 255590 54279 0 95152 21414 73738 84700 84700 0 0 218832 218832 1712931 955114 704889 52928 718003 126622 591381 4239319 2962021 1179544 97754 219555 161828 57564 163 0 5105877 4976455 125898 3524 3928913 3827731 90220 10962 0 230200 137378 87748 5074 4394778 4394778 0 5212686 5212686 417396 209406 207990 MERCHANDISE FOR RESALE 2101191 1610277 490914 EVENTS 837787 686807 101863 49117 ENTRY FEES/ATHLETIC OFFICIALS 444571 438521 6050 MEMBERSHIPS 351643 130434 182721 38488 PAYROLL/BANK FEES/INVESTMENT 349218 349218 766088 632807 119943 13338 86764567 63625752 21663751 1475064 1796164 1731966 2001014 1727415 1192693 1264946 1719274 1760667 187012710 36973482 146846276 150039228 35927688 39944998 3756735 4826895 6346714 2016309 199586558 203312424 4356946 4748302 1482349 2680933 113310909 110515909 5705853 5468604 7410408 9757427 132266465 133171175 X 58753782 60903356 4173580 4417475 4392731 4820418 67320093 70141249 199586558 203312424 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 77598 77598 false LOBBYING EXPENDITURES SCHEDULE C, PART II-B, LINE 1I IN JUNE 2009 STEVENSON UNIVERSITY HIRED TIMOTHY A. PERRY OF GORDON, FEINBLATT, ROTHMAN, HOFFBERGER & HOLLANDER, LLC AS COUNSEL FOR THE UNIVERSITY REGARDING THE ACQUISITION OF STATE OWNED REAL PROPERTY ON THE ROSEWOOD CAMPUS. THE UNIVERSITY PAID $77,598 AS OF JUNE 30, 2010 FOR SERVICES RENDERED. 5329495 632078 894795 226402 30175 6599791 6857226 394544 -1711160 182254 28861 5329495 0.85000 0.10000 0.05000 false false 35464634 35464634 122798539 20199988 102598551 22890246 16773494 6116752 5859291 5859291 150039228 0 SWAP LIABILITIES 8933431 REFUNDABLE ADVANCES-US GOV'T 373377 OTHER LIABILITIES 450619 9757427 87648056 86764567 883489 4496226 -2558559 1937667 2821156 71778223 4496226 4496226 67281997 218832 20147227 20366059 87648056 66398508 66398508 218832 20147227 20366059 86764567 INCOME TAX STATUS SCHEDULE D, PART X AS AN EDUCATIONAL INSTITUTION MEETING THE REQUIREMENTS OF SECTION 50 I (C)(3) OF THE INTERNAL REVENUE CODE, THE UNIVERSITY IS EXEMPT FROM INCOME TAXES ON INCOME, AS PROVIDED IN SECTION 501 (A), EXCEPT TO THE EXTENT IT HAS TAXABLE INCOME FROM ACTIVITIES THAT ARE NOT RELATED TO ITS EXEMPT PURPOSE. NO PROVISION FOR INCOME TAXES WAS REQUIRED FOR 2010 AND 2009. THE UNIVERSITY HAD NO LIABILITY FOR UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2010. SCHEDULE D, PARTS XI, XII AND XIII PART XI, LINE 8 AMOUNT REPRESENTS THE CHANGE IN THE FAIR VALUE OF INTEREST RATE SWAP AGREEMENTS. PART XII, LINE 4B AMOUNT REPRESENTS STUDENT FINANCIAL AID, WHICH IS NETTED AGAINST TUITION & FEES REVENUE FOR FINANCIAL STATEMENT PURPOSES. PART XIII, LINE 4B AMOUNT REPRESENTS STUDENT FINANCIAL AID, WHICH IS NETTED AGAINST TUITION & FEES REVENUE FOR FINANCIAL STATEMENT PURPOSES. SCHEDULE D, PART V INTENDED USES OF ENDOWMENT FUNDS THE UNIVERSITY'S ENDOWMENT CONSISTS OF APPROXIMATELY 43 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. true true true THE UNIVERSITY'S RACIALLY NON-DISCRIMINATORY POLICY IS PUBLICIZED IN RADIO AND NEWSPAPER ADVERTISEMENTS AND THE UNIVERSITY'S WEBSITE. true true true true false false false false false false false false true false STEVENSON UNIVERSITY PARTICIPATES IN SEVERAL FINANCIAL AID PROGRAMS ADMINISTERED BY THE US DEPARTMENT OF EDUCATION AND BY THE STATE OF MARYLAND. true true Europe (Including Iceland and Greenland) 0 0 Program Services Students study abroad 148242 East Asia and the Pacific 0 0 Program Services Students study abroad 46840 Central America and the Caribbean 0 0 Grantmaking 254148 East Asia and the Pacific 0 0 Grantmaking 34638 Europe (Including Iceland and Greenland) 0 0 Grantmaking 43464 Middle East and North Africa 0 0 Grantmaking 65680 North America 0 0 Grantmaking 29723 Russia and the Newly Independent States 0 0 Grantmaking 38288 South America 0 0 Grantmaking 104355 South Asia 0 0 Grantmaking 84491 Sub-Saharan Africa 0 0 Grantmaking 340154 Central America and the Caribbean Investments 0 0 1190023 STUDENT FINANCIAL AID CENTRAL AMERICA Cent. America/Caribbean 13 254148 STUDENT ACCT STUDENT FINANCIAL AID EAST ASIA AND THE PACIFIC East Asia/Pacific 2 34638 STUDENT ACCT STUDENT FINANCIAL AID EUROPE Europe/Iceland/Greenland 3 43464 STUDENT ACCT STUDENT FINANCIAL AID MIDDLE EAST & NORTH AFRICA Middle East/North Africa 4 65680 STUDENT ACCT STUDENT FINANCIAL AID NORTH AMERICA North America 1 29723 STUDENT ACCT STUDENT FINANCIAL AID RUSSIA AND THE NIS Russia 3 38288 STUDENT ACCT STUDENT FINANCIAL AID SOUTH AMERICA South America 6 104355 STUDENT ACCT STUDENT FINANCIAL AID SOUTH ASIA South Asia 9 84491 STUDENT ACCT STUDENT FINANCIAL AID SUB-SAHARAN AFRICA Sub-Saharan Africa 20 340154 STUDENT ACCT STUDENT FINANCIAL AID SCHEDULE F, PART I, LINE 2 THE UNIVERSITY PROVIDES FINANCIAL AID TO ELIGIBLE STUDENTS, GENERALLY IN A "PACKAGE" THAT INCLUDES LOANS, COMPENSATION UNDER WORK-STUDY PROGRAMS, AND/OR GRANT AND SCHOLARSHIP AWARDS. THE LOANS ARE PROVIDED PRIMARILY THROUGH PROGRAMS OF THE UNITED STATES GOVERNMENT (INCLUDING DIRECT AND GUARANTEED LOAN PROGRMS) UNDER WHICH THE UNIVERSITY IS RESPONSIBLE ONLY FOR CERTAIN ADMINISTRATIVE DUTIES. THE GRANTS AND SCHOLARSHIPS INCLUDE AWARDS PROVIDED THROUGH GIFTS AND GRANTS FROM PRIVATE DONORS OR FROM INCOME EARNED ON ENDOWMENT FUNDS RESTRICTED FOR STUDENT AID, AS WELL AS GENERAL FUNDS SHCOLARSHIP AWARDS. ROUGHLY NINETY PERCENT OF STEVENSON UNIVERSITY STUDENTS RECEIVE SOME SORT OF FINANCIAL AID. ALL INDIVIDUALS RECEIVING DISBURSEMENTS FROM STEVENSON UNIVERSITY QUALIFY TO RECEIVE SUCH PAYMENTS BASED ON SCHOLASTIC ACHIEVEMENT AND/OR FINANCIAL NEED. THE UNIVERSITY PROVIDES NEED-BASED GRANT, WHICH IS DETERMINED BASED ON THE STUDENTS'S FAFSA SCORE. THE STUDENT MUST MAINTAIN A GPA OF 2.0 OR GREATER AND BE A FULL-TIME STUDENT. DISBURSEMENTS TAKE THE FORM OF SCHOLARSHIP OR GRANTS. GRANTS ARE DISBURSED BASED ON THE GUIDELINES SET FORTH BY THE PARTY FUNDING THE GRANT. VILLAFEST 25010 25010 54670 GOLF TOURNAMENT 18235 18235 17118 0 43245 43245 71788 71788 -28543 true STUDENT FINANCIAL AID UNITED STATES 2421 19152286 STUDENT FINANCIAL AID SCHEDULE I, PART I, LINE 2 THE UNIVERSITY PROVIDES FINANCIAL AID TO ELIGIBLE STUDENTS, GENERALLY IN A "PACKAGE" THAT INCLUDES LOANS, COMPENSATION UNDER WORK-STUDY PROGRAMS, AND/OR GRANT AND SCHOLARSHIP AWARDS. THE LOANS ARE PROVIDED PRIMARILY THROUGH PROGRAMS OF THE UNITED STATES GOVERNMENT (INCLUDING DIRECT AND GUARANTEED LOAN PROGRMS) UNDER WHICH THE UNIVERSITY IS RESPONSIBLE ONLY FOR CERTAIN ADMINISTRATIVE DUTIES. THE GRANTS AND SCHOLARSHIPS INCLUDE AWARDS PROVIDED THROUGH GIFTS AND GRANTS FROM PRIVATE DONORS OR FROM INCOME EARNED ON ENDOWMENT FUNDS RESTRICTED FOR STUDENT AID, AS WELL AS GENERAL FUNDS SHCOLARSHIP AWARDS. ROUGHLY NINETY PERCENT OF STEVENSON UNIVERSITY STUDENTS RECEIVE SOME SORT OF FINANCIAL AID. ALL INDIVIDUALS RECEIVING DISBURSEMENTS FROM STEVENSON UNIVERSITY QUALIFY TO RECEIVE SUCH PAYMENTS BASED ON SCHOLASTIC ACHIEVEMENT AND/OR FINANCIAL NEED. THE UNIVERSITY PROVIDES NEED-BASED GRANT, WHICH IS DETERMINED BASED ON THE STUDENTS'S FAFSA SCORE. THE STUDENT MUST MAINTAIN A GPA OF 2.0 OR GREATER AND BE A FULL-TIME STUDENT. DISBURSEMENTS TAKE THE FORM OF SCHOLARSHIP OR GRANTS. GRANTS ARE DISBURSED BASED ON THE GUIDELINES SET FORTH BY THE PARTY FUNDING THE GRANT. X X X true false X X X X X false true false false false false false false false KEVIN J MANNING 282786 0 75000 0 1107507 0 18375 0 9987 0 1493655 0 1072507 0 TIMOTHY M CAMPBELL 188924 0 40000 0 0 0 47021 0 11401 0 287346 0 0 0 BRENDA BALZER 140970 0 0 0 0 0 11029 0 1749 0 153748 0 0 0 MELANIE EDMONDSON 136317 0 6667 0 0 0 10213 0 11476 0 164673 0 0 0 PAUL D LACK 192621 0 50000 0 89991 0 17763 0 9686 0 360061 0 89991 0 STEVENSON W CLOSE 170192 0 25000 0 0 0 12731 0 9645 0 217568 0 0 0 HOUSING STIPEND SCHEDULE J, PART I, LINE 1A DR. KEVIN MANNING PURCHASED HIS OWN RESIDENCE BUT RECEIVES A HOUSING ALLOWANCE OF $35,000 PER YEAR FROM THE UNIVERSITY. ADDITIONALLY, THE UNIVERSITY PAYS A MEMBERSHIP FEE FOR THE PRESIDENT TO BE A MEMBER OF THE CENTER CLUB AND THE BALTIMORE COUNTRY CLUB IN BALTIMORE, MARYLAND. THE CLUBS ARE UTILIZED BY THE PRESIDENT FOR VARIOUS BUSINESS MEETINGS AND EVENTS. THE EXECUTIVE VICE PRESIDENT OF FINANCE, THE VICE PRESIDENT OF INSTITUTIONAL ADVANCEMENT, THE EXECUTIVE VICE PRESIDENT FOR ACADEMIC AFFAIRS AND THE ASSOCIATE DIRECTOR OF ATHLETICS RECEIVE AN EXPENSE ALLOWANCE OF $7,500 PER YEAR. ALL OF THESE AMOUNTS ARE REPORTED AS COMPENSATION ON SCHEDULE J AND PART VII. SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN SCHEDULE J, PART I, LINE 4B DR. KEVING MANNING, TIMOTHY CAMPBELL, PAUL LACK, STEVENSON CLOSE AND PAUL CANTABENE PARTICIPATE IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP) SPONSORED BY THE UNIVERSITY. DEFERRED COMPENSATION EARNED UNDER THIS PLAN IS REPORTED ON SCHEDULE J, PART II, COLUMN C ALONG WITH THE 403(B) PLAN INSTITUTIONAL PAYMENTS. THE FOLLOWING INDIVIDUALS RECEIVED PAYMENTS FROM THE SERP DURING THE YEAR: DR. KEVIN MANNING - $1,072,507 PAUL LACK - $89,991 MARYLAND HEALTH AND HIGHER EDUCATION FACILITIES AU 520936091 574217VR3 2005-12-15 95560000 Construct Academic and Student false false MARYLAND HEALTH AND HIGHER EDUCATION FACILITIES AU 520936091 574217Y58 2008-07-24 23500000 Construct Gym and Student Hous false false 95560000 39923862 622450 55013688 2006 true false true true 23500000 11033000 328197 12138803 2009 true false true true false false false false false true false false false false false true false true true bank of america 25. false false false false true true bank of america 25. false false false CONSTELLATION ENERGY THOMAS BRADY WAS OFFICER 2631486 UTILITY PROVIDER SEE SCHED O false X FILL DIRT FOR PARKING LOT 1 357692 APPRAISAL 1 false false false FORM 990 REVIEW PROCESS PART VI, LINE 11 THE 990 INFORMATION IS COMPILED BY THE UNIVERSITY'S FINANCE OFFICE AND REVIEWED BY THE INDEPENDENT ACCOUNTING FIRM OF KPMG. THE DRAFT RETURN IS THEN PRESENTED TO AND REVIEWED BY THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE IS COMPRISED OF SIX MEMBERS SELECTED FROM THE UNIVERSITY'S CURRENT BOARD OF TRUSTEES. THE FORM 990 IS THEN EMAILED TO ALL MEMBERS OF THE BOARD OF TRUSTEES VIA A PASSWORD PROTECTED DOCUMENT. THE COMMITTEE MEMBERS HAVE A TWO WEEK PERIOD OF TIME WHERE THEY ARE ENCOURAGED TO REVIEW AND COMMENT ON THE DOCUMENT PRIOR TO ITS FILING. CONFLICT OF INTEREST POLICY PART VI, LINE 12C IT IS THE POLICY OF STEVENSON UNIVERSITY THAT THE MEMBERS OF ITS BOARD OF TRUSTEES AVOID ETHICAL, LEGAL, FINANCIAL AND OTHER CONFLICTS OF INTEREST AND TO ENSURE THAT THEIR ACTIVITIES AND INTERESTS DO NOT CONFLICT WITH THEIR OBLIGATIONS TO THE UNIVERSITY AND ITS WELFARE. THIS POLICY COVERS MATTERS RELATING TO THE BOARD MEMBER OR ANY RELATED PERSON. A RELATED PERSON IS DEFINED AS A MEMBER OF THE IMMEDIATE FAMILY OF THE BOARD MEMBER, ANY ENTITY OF WHICH THE BOARD MEMBER IS AN OFFICER, DIRECTOR OR TRUSTEE OR WITH RESPECT TO WHICH THE BOARD MEMBER HOLDS A SIMILAR POSITION, ANY ENTITY IN WHICH THE BOARD MEMBER HAS A MATERIAL FINANCIAL INTEREST; AND ANY OTHER PERSON OR ENTITY WITH WHOM THE BOARD MEMBER HAS A PERSONAL RELATIONSHIP THAT MIGHT REASONABLY BE EXPECTED TO AFFECT THE BOARD MEMBER'S JUDGMENT IN THE PARTICULAR MATTER. ON AN ANNUAL BASIS EACH MEMBER OF THE BOARD OF TRUSTEES WILL SUBMIT TO THE SECRETARY OF THE BOARD, AN ANNUAL SIGNED CONFLICT OF INTEREST REPORT. IF DURING THE COURSE OF THE YEAR, AN ACTUAL OR POTENTIAL CONFLICT ARISES, BOARD MEMBERS ARE REQUIRED TO DISCLOSE THEM TO THE SECRETARY OF THE BOARD BEFORE ANY BOARD ACTION WITH RESPECT TO THE MATTER IS TAKEN. ANY BOARD MEMBER WHO IS AWARE OF AN EXISTING OR POTENTIAL CONFLICT OF INTEREST WITH RESPECT TO A MATTER COMING BEFORE THE BOARD OR COMMITTEE OF THE BOARD SHALL NOT BE PRESENT FOR ANY DISCUSSION OR VOTE IN CONNECTION WITH THE MATTER, AND THE AFFIRMATIVE VOTE OF A MAJORITY OF THE DISINTERESTED BOARD MEMBERS OR COMMITTEE MEMBERS, AS THE CASE MAY BE, SHALL BE REQUIRED IN ORDER TO APPROVE, RATIFY OR AUTHORIZE THE MATTER. THE BOARD MEMBER WHO HAS AN INTEREST IN THE MATTER SHALL NOT BE COUNTED FOR THE PURPOSE OF DETERMINING THE PRESENCE OF A QUORUM AT THE MEETING AT WHICH THE MATTER IS CONSIDERED. COMPENSATION REVIEW PROCESS PART VI, LINE 15 ON AN ANNUAL BASIS THE EXECUTIVE COMMITTEE, WHICH IS COMPRISED OF SIX MEMBERS SELECTED FROM OUR CURRENT BOARD OF TRUSTEES, MEETS TO EVALUATE THE PERFORMANCE OF THE PRESIDENT, CHIEF FINANCIAL OFFICER, EXECUTIVE VICE PRESIDENT FOR ACADEMIC AFFAIRS AND VICE PRESIDENT FOR UNIVERSITY ADVANCEMENT. DURING THIS MEETING, THE SALARIES ARE EVALUATED BY REVIEWING RESULTS OF COMPENSATION STUDIES PERFORMED BY AN INDEPENDENT ORGANIZATION. THE ORGANIZATION COMPILES THE WAGE INFORMATION OF TEN PEER COLLEGES AND UNIVERSITIES FROM THEIR FORM 990S FILED WITH THE IRS. THIS ENSURES THAT COMPENSATION LEVELS AT STEVENSON UNIVERSITY ARE WITHIN REASONABLE LEVELS TO OTHER INSTITUTIONS. MEETINGS OF THE EXECUTIVE COMMITTEE TAKE PLACE FOUR TIMES A YEAR. MINUTES ARE TAKEN AND RETAINED BY THE OFFICE OF THE PRESIDENT. IN JUNE OF EACH YEAR, THE COMMITTEE MEETS TO DISCUSS AND AUTHORIZED EXECUTIVE COMPENSATION FOR THE KEY EMPLOYEES LISTED ABOVE. FOR ALL OTHER ADMINISTRATIVE PERSONNEL L EACH POSITION OR STATUS CHANGE IS BENCHMARKED AGAINST CUPA SALARY SURVEY COMPENSATION STANDARDS BY THE VICE PRESIDENT OF HUMAN RESOURCES TO ENSURE REASONABLE LEVELS OF COMPENSATION. GOVERNING DOCUMENTS PART VI, LINE 19 THE UNIVERSITY MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC VIA ITS WEBSITE. COPIES OF THE AUDITED FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. BUSINESS TRANSACTION INVOLVING INTERESTED PERSONS SCHEDULE L, PART IV THOMAS BRADY HAS BEEN CLASSIFIED AS AN INTERESTED PARTY TO THE UNIVERSITY DUE TO HIS EMPLOYMENT AS THE EXECUTIVE VICE PRESIDENT OF CORPORATE STRATEGY OF CONSTELLATION ENERGY, THE COMPANY WHO IS THE PRIMARY ENERGY PROVIDER TO THE UNIVERSITY. MR. BRADY IS NO LONGER AN EMPLOYEE OF THAT ORGANIZATION BUT REMAINS ON THE EXECUTIVE BOARD OF CONSTELLATION. Boulevard Realty No 2 LLC 1525 Greenspring Valley Road Stevenson MD 21153 student dorms MD 0 15310159