2026-02-23T13:25:17-06:00 2025-06-30 390859910 BAKER TILLY ADVISORY GROUP LP 402 E YAKIMA AVENUE SUITE 110 YAKIMA WA 98901 990 2024-07-01 910564993 SAINT MARTIN'S UNIVERSITY SAIN 3604384534 5000 ABBEY WAY SE LACEY WA 98503 TIMOTHY MADELEY VP OF BUSINESS AFFAIRS & CFO 3604384534 2026-02-21 1 1 EMINA O CRESSWELL P01217304 5092487750 2026-02-21 2024 2025-03-06 01:10:19Z WILLIAM BROWNSBERGER 5000 ABBEY WAY SE LACEY WA 98503 98823516 0 X WWW.STMARTIN.EDU X 1895 WA SAINT MARTIN'S UNIVERSITY IS A CATHOLIC BENEDICTINE INSTITUTE OF HIGHER EDUCATION THAT EMPOWERS STUDENTS TO PURSUE A LIFETIME OF LEARNING AND ACCOMPLISHMENT IN ALL ARENAS OF HUMAN ENDEAVOR. 29 28 1000 40 487745 0 8332539 31451468 65986276 64522026 1828246 1824859 -335251 -320508 75811810 97477845 28333447 29454586 0 0 28908762 27708371 0 0 3425170 18282793 19691507 75525002 76854464 286808 20623381 112303627 137931293 31894830 32360464 80408797 105570829 X SAINT MARTIN'S STUDENTS LEARN TO MAKE A POSITIVE DIFFERENCE IN THEIR LIVES AND IN THE LIVES OF OTHERS THROUGH THE INTERACTION OF FAITH, REASON, AND SERVICE. THE UNIVERSITY HONORS BOTH THE SACREDNESS OF THE INDIVIDUAL AND THE SIGNIFICANCE OF COMMUNITY IN THE ONGOING JOURNEY OF BECOMING. 0 0 29454586 29454586 0 HIGHER EDUCATION: STUDENT FINANCIAL AID. SAINT MARTIN'S PROVIDES TUITION ASSISTANCE TO THE MAJORITY OF ITS UNDERGRADUATE STUDENT BODY IN THE FORM OF SCHOLARSHIPS, GRANTS, AND LOANS. 17554576 0 57278196 HIGHER EDUCATION: INSTRUCTIONAL PROGRAMS AND RELATED SERVICES FOR ON-CAMPUS AND EXTENSION STUDENTS LEADING TO UNDERGRADUATE AND GRADUATE DEGREES. SAINT MARTIN'S OFFERS DEGREES IN ENGINEERING, NURSING, BUSINESS, EDUCATION, AND THE LIBERAL ARTS. 9360642 0 372499 HIGHER EDUCATION: STUDENT SERVICES FOR ON-CAMPUS AND EXTENSION STUDENTS LEADING TO UNDERGRADUATE AND GRADUATE DEGREES. 4808039 0 6356865 HIGHER EDUCATION: AUXILIARY SERVICES INCLUDING FOOD SERVICE, BOOKSTORE, AND STUDENT HOUSING. 4808039 0 6356865 61177843 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 61 0 1 1000 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 29 28 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 X X ELISABETH SESIN 3606882450 5000 ABBEY WAY SE LACEY WA 98503 WILLIAM BROWNSBERGER PRESIDENT 50.00 X X 188727 0 19424 ROY HEYNDERICKX FORMER TRUSTEE (THRU 6/2024) 20.00 X X 98659 0 0 SAM ARMOUR TRUSTEE, BOARD CHAIR 2.00 X X 0 0 0 MEDRICE COLUCCIO TRUSTEE, BOARD CHAIR (THRU 11/2024) 2.00 X 0 0 0 JENNY KRASKA TRUSTEE, VICE CHAIR 2.00 X X 0 0 0 ABBOT MARION NGUYEN OSB TRUSTEE, CHANCELLOR 2.00 38.00 X X 0 0 0 BR NICOLAUS WILSON OSB TRUSTEE, TREASURER 5.00 35.00 X X 0 0 0 BR BONIFACE V LAZZARI OSB TRUSTEE, SECRETARY 2.00 38.00 X X 0 0 0 FR KILLIAN MALVEY OSB TRUSTEE 2.00 38.00 X X 0 0 0 JOSEPH ALONGI TRUSTEE 2.00 X 0 0 0 KATHY BEECHER TRUSTEE 2.00 X 0 0 0 THEODORE BILLMAN TRUSTEE 2.00 X 0 0 0 TERRI DEGNER TRUSTEE 2.00 X 0 0 0 BR MARK BONNEVILLE OSB TRUSTEE 2.00 38.00 X 0 0 0 BR LUKE DEVINE OSB TRUSTEE 2.00 38.00 X 0 0 0 AMY HARDING TRUSTEE 2.00 X 0 0 0 ROBERT KNAPP TRUSTEE 2.00 X 0 0 0 BR BEDE NICOL OSB TRUSTEE 2.00 38.00 X 0 0 0 DAN O'NEILL TRUSTEE 2.00 X 0 0 0 A RICHARD PANOWICZ TRUSTEE 2.00 X 0 0 0 GEORGE PARKER TRUSTEE 2.00 X 0 0 0 DREW PHILLIPS TRUSTEE 2.00 X 0 0 0 CLIFF QUISENBERRY TRUSTEE 2.00 X 0 0 0 PATRICK RANTS TRUSTEE 2.00 X 0 0 0 TEDI REYNOLDS TRUSTEE 2.00 X 0 0 0 SUZANNE SCOTT TRUSTEE 2.00 X 0 0 0 PERRY SHEA TRUSTEE 2.00 X 0 0 0 ROBERT TRUNEK TRUSTEE 2.00 X 0 0 0 LACY WALKERMEYER TRUSTEE 2.00 X 0 0 0 JOSEPH WILLIAMS TRUSTEE 2.00 X 0 0 0 WILLIAM WYSOCKI TRUSTEE 2.00 X 0 0 0 BRIAN CHARNESKI TRUSTEE (THRU 12/2024) 2.00 X 0 0 0 JAY RUDD TRUSTEE (THRU 11/2024) 2.00 X 0 0 0 JESSICA VAN HATCHER TRUSTEE (THRU 11/2024) 2.00 X 0 0 0 ROY BREIMAN TRUSTEE (THRU 11/2024) 2.00 X 0 0 0 JOHN CARR TRUSTEE (THRU 11/2024) 2.00 X 0 0 0 STEPHEN LANZA TRUSTEE (THRU 11/2024) 2.00 X 0 0 0 JOHN O'HALLORAN TRUSTEE (THRU 11/2024) 2.00 X 0 0 0 TIMOTHY MADELEY VP OF BUSINESS AFFAIRS, CFO 50.00 X 152688 0 13062 STEFANIE POWELL VP OF BUSINESS AFFAIRS, CFO (THRU 7/2024) 50.00 X 115000 0 16591 DAVID OLWELL DEAN OF ENGINEERING 40.00 X 185337 0 0 CHUNG-SHING LEE DEAN OF BUSINESS 40.00 X 176417 0 26107 PATRICIA LEMON DEAN OF ADMISSIONS 50.00 X 157030 0 29420 NATHAN PETERS - VP OF MARKETING INTERIM VP OF INSTITUTIONAL ADVANCEMENT 50.00 X 137173 0 8787 ADAM TAKATA INTERIM ASSOCIATE DEAN JBLM 40.00 X 135508 0 10286 RICHARD MONTGOMERY CAREER DEVELOPMENT MANAGER 40.00 X 123666 0 11309 JOSE OTERO CAREER DEVELOPMENT MANAGER 40.00 X 123236 0 8689 1593441 0 143675 37 0 1 0 BON APPETIT PO BOX 417632 BOSTON MA 02241 FOOD CONTRACTOR 3433847 BARNES & NOBLE COLLEGE BOOKSELLERS PO BOX 823660 PHILADELPHIA PA 19182 STUDENT BOOKSTORE 743589 FORMA CONSTRUCTION 500 COLUMBIA ST NW SUITE 201 OLYMPIA WA 98501 CONSTRUCTION 477834 SAINT MARTIN'S ABBEY 5000 ABBEY WAY LACEY WA 98503 TEACHING 404805 TWO OCEAN EDUCATION PARTNERS 1407 SUMMIT AVE RICHMOND VA 23230 CONSULTING 373500 17 1139184 1892569 28419715 9505973 31451468 TUITION AND FEES 611310 57278196 57278196 AUXILIARY ENTERPRISES 611310 6818477 6356865 446162 15450 MISCELLANEOUS CAMPUS REVENUE 611310 425353 372499 41583 11271 64522026 1311504 1311504 152661 16326 136335 136335 136335 1210608 697253 513355 513355 513355 63377 1139184 632092 -568715 -568715 WORKERS COMP REBATE 900099 111872 111872 111872 97477845 64007560 487745 1531072 28705588 28705588 748998 748998 1762860 577302 1075813 109745 19728502 17253780 2108251 366471 601021 525630 64227 11164 3974331 2251287 1659795 63249 1641657 1361743 242391 37523 146854 146854 149424 149424 6857 6857 119235 119235 2341689 1293056 875977 172656 229219 184221 28772 16226 571148 371058 200090 1072195 639845 372092 60258 1479024 43424 1435005 595 1502738 1434150 46962 21626 27064 27064 1670403 1670403 2959025 669570 2289455 540703 34105 506598 FOOD SERVICE 3307026 3248630 47450 10946 DUES AND SUBSCRIPTIONS 712651 507685 189510 15456 SMALL EQUIPMENT 546119 496482 42688 6949 ON CAMPUS EVENTS 516416 440066 50397 25953 1793717 1060793 716116 16808 76854464 61177843 12251451 3425170 1989858 596735 302645 18456656 1299434 950411 4056534 3935620 790848 907526 120062352 65784049 55634637 54278303 47518088 58007605 13403 0 698180 798437 112303627 137931293 3894400 4249088 2002985 2007101 23882641 22707849 2114804 3396426 31894830 32360464 X 35034779 49960788 45374018 55610041 80408797 105570829 112303627 137931293 X 20623381 4709145 -170494 X 0 1 X 1 1 1 X 9428354 17055178 8886932 8332539 31451468 75154471 9428354 17055178 8886932 8332539 31451468 75154471 24548921 50605550 3631231 909007 988725 1436634 1464165 8429762 47370 111872 159242 83743475 328627667 0.60430 0.84370 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2023 AMOUNT: $ 47,370. 2024 AMOUNT: $ 111,872. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 6857 6857 0 PART II-B, LINE 1: THE UNIVERSITY PAYS DUES OF $114,284 TO THE INDEPENDENT COLLEGES OF WASHINGTON, WHO CONDUCT LOBBYING ACTIVITIES ON BEHALF OF THE UNIVERSITY. 6% OF THE DUES ARE DEVOTED TO LOBBYING. 46594574 2329019 6705913 1293400 119235 54216871 40547844 1260460 6057416 1178800 92346 46594574 35994329 1104899 4622704 1103200 70888 40547844 33179590 8138693 -4461142 779300 83512 35994329 26633168 561750 6867506 774300 108534 33179590 0.22600 0.53200 0.24200 1 0 92717952 45355922 47362030 3614137 3256690 357447 14233823 14091499 142324 9496440 3079938 6416502 54278303 GOVERNMENT GRANTS REFUNDABLE 235083 ANNUITIES PAYABLE 1556276 INTEREST RATE SWAP 250799 RELATED PARTY PAYABLE 1354268 3396426 X 73158204 4709145 67111 648418 5424674 67733530 119235 29625080 29744315 97477845 47996172 67111 648418 715529 47280643 119235 29454586 29573821 76854464 PART V, LINE 4: THE UNIVERSITY'S ENDOWMENT CONSISTS OF APPROXIMATELY 200 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. PART X, LINE 2: NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE FINANCIAL STATEMENTS SINCE THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). ADDITIONALLY, THE UNIVERSITY HAS DONE AN ASSESSMENT OF ANY UNCERTAIN TAX POSITIONS AS REQUIRED UNDER FASB ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (ASC 740), AND HAS DETERMINED IT CURRENTLY HAS NO UNCERTAIN TAX POSITIONS AND THEREFORE NO LIABILITY AT JUNE 30, 2025 AND 2024. IN ADDITION, THE UNIVERSITY HAS NO MATERIAL UNRELATED BUSINESS INCOME SUBJECT TO TAX AT JUNE 30, 2025 AND 2024. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 632,092. RENTAL EXPENSES 16,326. PART XI, LINE 4B - OTHER ADJUSTMENTS: UNREALIZED GAIN ON INTEREST RATE SWAP -42,402. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 212,896. SCHOLARSHIPS DISCOUNT 29,454,586. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSE 632,092. RENTAL EXPENSES 16,326. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP DISCOUNTS 29,454,586. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE ORGANIZATION PUBLICIZES ITS RACIALLY NONDISCRIMINATORY POLICY THROUGH AN ADVERTISEMENT PLACED IN THE NEWSPAPER. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES FUNDS FROM THE DEPARTMENT OF EDUCATION TO BE GIVEN OUT IN THE FORM OF GRANTS AND LOANS TO STUDENTS. THE UNIVERSITY ALSO PERIODICALLY RECEIVES FUNDS FROM FEDERAL AGENCIES FOR RESEARCH OR EQUIPMENT GRANTS. 1 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 GRANTMAKING EDUCATION 85000 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 GRANTMAKING EDUCATION 161709 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 GRANTMAKING EDUCATION 164007 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 GRANTMAKING EDUCATION 14000 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 GRANTMAKING EDUCATION 260305 SOUTH ASIA 0 0 GRANTMAKING EDUCATION 5000 CENTRAL AMERICA AND THE CARIBBEAN 0 0 GRANTMAKING EDUCATION 58977 0 0 0 0 0 0 748998 0 748998 SCHOLARSHIP EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 3 85000 FEE DISCOUNT SCHOLARSHIP EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIU 3 161709 FEE DISCOUNT SCHOLARSHIP NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 3 164007 FEE DISCOUNT SCHOLARSHIP SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 1 14000 FEE DISCOUNT SCHOLARSHIP SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 10 260305 FEE DISCOUNT SCHOLARSHIP CENTRAL AMERICA AND THE CARIBBEAN 1 58977 FEE DISCOUNT SCHOLARSHIP SOUTH ASIA 1 5000 FEE DISCOUNT 0 0 0 0 0 0 PART I, LINE 2: STUDENTS RECEIVING SCHOLARSHIPS ARE JUDGED WORTHY BY THE INSTITUTION'S ASSESSMENT ON THE BASIS OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED, AND OTHER SIMILAR STANDARDS. THE UNIVERSITY DETERMINES WHO QUALIFIES FOR FEE DISCOUNTS BASED ON ANALYSIS BY THE FINANCIAL AID OFFICE. FEE DISCOUNTS ARE AWARDED AS PART OF A PACKAGE CONSISTING OF FEDERAL GRANTS, FEDERAL AND UNIVERSITY LOANS, FEDERAL WORK-STUDY AND UNIVERSITY SCHOLARSHIPS. IN ALL CASES, THOSE WHO RECEIVE LOANS HAVE DEMONSTRATED FINANCIAL NEED AND HAVE COMPLETED A FEDERAL FINANCIAL AID APPLICATION FORM. THE AMOUNTS RECEIVED ARE ADDED TO THE STUDENT'S ACCOUNT TO OFFSET THE COST OF TUITION AND FEES. PART I, LINE 3, COLUMN (F): THE ACCOUNTING METHOD USED IS THE ACCRUAL METHOD. PART III: THE ACCOUNTING METHOD USED IS THE ACCRUAL METHOD. PART III, COLUMN (C): THE AMOUNT IS THE ACTUAL NUMBER OF RECIPIENTS. GALA 1148715 1139055 9660 46905 208333 360439 GOLF TOURNAMENT 53846 129 53717 4 16411 1202561 1139184 63377 46905 208337 376850 632092 -568715 1 MERIT-BASED SCHOLARSHIPS & AID 1289 20159278 NEED-BASED SCHOLARSHIPS & AID 128 1549562 ATHLETIC SCHOLARSHIPS & AID 164 2365690 TUITION ASSISTANCE, SCHOLARSHIPS, AND GRANTS 1711 4631058 PART I, LINE 2: ALL GRANTS REPRESENT INTERNAL TRANSFER OF FUNDS FROM ENDOWMENTS OR OTHER ACCOUNTS TO A REVENUE ACCOUNT FOR TUITION PAYMENTS. NO FUNDS ARE DISTRIBUTED DIRECTLY TO INDIVIDUALS. MERIT SCHOLARSHIPS AND SMU GRANT LEVELS ARE BASED ON THE STUDENT'S ENTERING GPA AND NEED. FOR INCOMING FRESHMAN, TEST SCORES ARE ALSO A FACTOR. PROVIDED THAT EACH STUDENT MAINTAINS THE REQUIRED GPA, DOES NOT EXCEED THE MAXIMUM TIMEFRAME FOR INSTITUTIONAL AID AND SUBMITS EITHER A FAFSA OR FAFSA WAIVER BY THE MARCH 1ST DEADLINE, THE STUDENT WILL BE ELIGIBLE FOR HIS/HER MERIT SCHOLARSHIP OR SMU GRANT. X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 WILLIAM BROWNSBERGER PRESIDENT 82698 0 0 0 106029 0 0 0 19424 0 208151 0 0 0 CHUNG-SHING LEE DEAN OF BUSINESS 176417 0 0 0 0 0 0 0 26107 0 202524 0 0 0 PATRICIA LEMON DEAN OF ADMISSIONS 157030 0 0 0 0 0 0 0 29420 0 186450 0 0 0 DAVID OLWELL DEAN OF ENGINEERING 185337 0 0 0 0 0 0 0 0 0 185337 0 0 0 TIMOTHY MADELEY VP OF BUSINESS AFFAIRS, CFO 152688 0 0 0 0 0 0 0 13062 0 165750 0 0 0 PART I, LINE 1A THE BOARD APPROVES PAYMENTS OR REIMBURSEMENTS FOR THE PRESIDENT AND PRESIDENT'S SPOUSE FOR REASONABLE ENTERTAINMENT EXPENSES, TRAVEL EXPENSES, HOTEL BILLS, AND OTHER NECESSARY EXPENSES TO FURTHER THE INTERESTS OF THE UNIVERSITY. AMOUNTS THAT ARE PERSONAL ARE INCLUDED IN TAXABLE WAGES. THE BOARD PROVIDES A TAXABLE HOUSING AND AUTO ALLOWANCE UP TO $60,000 PER YEAR. THE BOARD PROVIDES THE PRESIDENT, AT THE UNIVERSITY'S EXPENSE, WITH MEMBERSHIP IN BUSINESS CLUBS, SERVICE ORGANIZATIONS AND PROFESSIONAL ORGANIZATIONS THAT WOULD FURTHER THE INTERESTS OF THE UNIVERSITY. ANY PERSONAL USE OF THE MEMBERSHIP DUES ARE INCLUDED IN TAXABLE WAGES. A WASHINGTON HIGHER EDUCATION FACILITIES AUTHORITY 911306482 2014-04-24 33535000 CONSTRUCTION OF SCIENCE BUILDING AND INDUSTRIAL LAB & REFINANCING 2007 BOND 0 0 0 A 10530000 130000 33405000 271857 3870000 29263143 2019 1 0 1 1 A 0 1 1 0 0 0.00770 0.00770 0 0 1 A 0 0 0 1 1 1 US BANK 18.000000000000 0 0 0 0 1 A 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: WASHINGTON HIGHER EDUCATION FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 05/10/2024 SCHEDULE K, PART VI THE AMOUNT LISTED ON PART II, LINE 3, TOTAL PROCEEDS OF ISSUE IS DIFFERENT FROM PART I, COLUMN E, ISSUE PRICE OF $33,535,000 DUE TO TOTAL PROCEEDS OF $130,000 NOT REDEEMED FOR USE BY THE UNIVERSITY AND INSTEAD RETURNED TO ISSUER. X 12 9351725 FAIR MARKET VALUE X 1 7500 FAIR MARKET VALUE X GALA AUCTION 81 142374 FAIR MARKET VALUE X RAFFLE GIVEAWAYS 9 4374 FAIR MARKET VALUE 0 0 1 1 PART I, COLUMN (B): NUMBER OF CONTRIBUTIONS PART I, LINE 32B: AN AUCTIONEER WAS HIRED TO ASSIST WITH THE GALA FUNDRAISING EVENT AUCTION. FORM 990, PART VI, SECTION A, LINE 6 PER THE SAINT MARTIN'S UNIVERSITY BYLAWS, A CAPITULAR OF THE RELIGIOUS HOUSE, KNOWN AS THE MONASTIC COMMUNITY KNOWN AS SAINT MARTIN'S ABBEY, HAS THE RIGHT TO PARTICIPATE IN THE UNIVERSITY'S GOVERNANCE EVEN THOUGH THEY ARE NOT A MEMBER OF THE BOARD OF TRUSTEES. SOME OF THE DECISIONS A CAPITULAR VOTES ON ARE TO ESTABLISH THE PHILOSOPHY AND MISSION ACCORDING TO WHICH THE UNIVERSITY OPERATES; TO AMEND THE ARTICLES OF INCORPORATION OR BYLAWS; TO CONVEY AN INTEREST IN REAL PROPERTY, TO INCUR INDEBTEDNESS SECURED BY ANY REAL OR PERSONAL PROPERTY OWNED BY THE UNIVERSITY; AND TO APPOINT A CERTAIN NUMBER OF CAPITULARS TO THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7A THE CHANCELLOR, THE SECRETARY, AND THE TREASURER, AS MEMBERS OF THE ABBEY, ARE DEEMED MEMBER-TRUSTEES. THE MEMBERS OF THE ABBEY MAY ELECT ADDITIONAL MEMBERS OF THE ABBEY TO SERVE AS MEMBER-TRUSTEES IN SUCH NUMBER AS THE MEMBERS DETERMINE. FORM 990, PART VI, SECTION A, LINE 7B DURING THIS TAX YEAR, THE CAPITULARS ELECTED NEW MEMBERS TO THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS AND APPROVES THE 990, AND THEN THEY FORWARD THE 990 TO THE ENTIRE BOARD OF TRUSTEES FOR FINAL APPROVAL. THE FULL BOARD RECEIVES A COPY OF THE 990, VIA A SECURE INTERNET PORTAL, PRIOR TO SUBMISSION OF THE RETURN. THE VICE PRESIDENT OF BUSINESS AFFAIRS & CFO REVIEWS THE RETURN IN A GROUP FORUM WITH ALL AVAILABLE MEMBERS. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE UNIVERSITY'S BOARD OF TRUSTEES AND SENIOR MANAGEMENT MAY, FROM TIME TO TIME, BE ASSOCIATED EITHER DIRECTLY OR INDIRECTLY WITH COMPANIES DOING BUSINESS WITH THE UNIVERSITY. FOR SENIOR MANAGEMENT, THE UNIVERSITY REQUIRES ANNUAL DISCLOSURE OF SIGNIFICANT FINANCIAL INTERESTS IN, OR EMPLOYMENT OR CONSULTING RELATIONSHIPS WITH, ENTITIES DOING BUSINESS WITH THE UNIVERSITY. THESE ANNUAL DISCLOSURES COVER BOTH SENIOR MANAGEMENT AND THEIR IMMEDIATE FAMILY MEMBERS. WHEN SUCH RELATIONSHIPS EXIST, MEASURES ARE TAKEN TO APPROPRIATELY MANAGE THE ACTUAL OR PERCEIVED CONFLICT IN THE BEST INTERESTS OF THE UNIVERSITY. THE UNIVERSITY HAS A WRITTEN CONFLICT OF INTEREST POLICY THAT REQUIRES, AMONG OTHER THINGS, THAT NO MEMBER OF THE BOARD OF TRUSTEES CAN PARTICIPATE IN ANY DECISION IN WHICH THEY (OR AN IMMEDIATE FAMILY MEMBER) HAS A MATERIAL FINANCIAL INTEREST. WHEN SUCH RELATIONSHIPS EXIST, MEASURES ARE TAKEN TO MITIGATE ANY ACTUAL OR PERCEIVED CONFLICT, INCLUDING REQUIRING THAT SUCH TRANSACTIONS BE CONDUCTED AT ARM'S LENGTH, FOR GOOD AND SUFFICIENT CONSIDERATION, BASED ON TERMS THAT ARE FAIR AND REASONABLE TO AND FOR THE BENEFIT OF THE UNIVERSITY, AND IN ACCORDANCE WITH APPLICABLE CONFLICT OF INTEREST LAWS. NO SUCH ASSOCIATIONS ARE CONSIDERED TO BE SIGNIFICANT. FORM 990, PART VI, SECTION B, LINE 15A SAINT MARTIN'S UNIVERSITY HAS A COMPENSATION COMMITTEE THAT MEETS QUARTERLY TO REVIEW COMPENSATION AND BENEFITS FOR THE PRESIDENT. THE BOARD HAS TO APPROVE THE PRESIDENT'S SALARY ON A SALARY SURVEY DONE BY THE ASSOCIATE VP FOR HUMAN RESOURCES. THE PRESIDENT'S SALARY IS REVIEWED YEARLY. FORM 990, PART VI, SECTION C, LINE 19 SAINT MARTIN'S UNIVERSITY MAKES ITS FINANCIAL INFORMATION AVAILABLE TO THE PUBLIC BY POSTING THE AUDITED FINANCIAL STATEMENTS ON THE UNIVERSITY WEBSITE. OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: UNREALIZED GAIN(LOSS) ON INTEREST RATE SWAP 42,402. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -212,896. SAINT MARTIN'S ABBEY 5000 ABBEY WAY SE LACEY WA 98503 911010006 BENEDICTINE MONASTERY WA 501(C)(3) LINE 1 THE ABBEY CORPORATION 0 CHARITABLE REMAINDER TRUSTS (8) CHARITABLE TRUST WA N/A 0 0 0 1 0 1 0 0 0 0 0 1 0 0 1 1 1 1 0 1