2011-11-15T14:11:10-06:00 2011-06-30 RSM MCGLADREY INC 221 THIRD AVENUE SE SUITE 300 CEDAR RAPIDS IA 524011512 990 2010-07-01 420680404 BUENA VISTA UNIVERSITY BUEN 7127492044 610 WEST FOURTH STREET STORM LAKE IA 505881798 ELIZABETH MERTEN 7127492044 2011-11-14 1 KAY HEGARTY 3192985333 2010 2016-02-24 21:20:13Z ELIZABETH MERTEN 610 WEST 4TH STREET STORM LAKE IA 50588 117225009 0 X WWW.BVU.EDU X 1891 IA BUENA VISTA UNIVERSITY'S MISSION IS THAT WE DEVELOP STUDENTS FOR LIFE LONG SUCCESS THROUGH INNOVATIVE AND IMAGINATIVE ACADEMIC AND PROFESSIONAL PREPARATION. 21 20 1858 250 59956 -177778 3281383 4058442 46150039 49254753 3860363 9464762 -58124 59956 53233661 62837913 11616131 12574822 0 0 24156175 26444893 0 0 1203809 17690864 18567156 53463170 57586871 -229509 5251042 163442229 203795996 30244281 47371126 133197948 156424870 WE DEVELOP STUDENTS FOR LIFE LONG SUCCESS THROUGH INNOVATIVE AND IMAGINATIVE ACADEMIC AND PROFESSIONAL PREPARATION. 0 0 34613698 12574822 41886131 INSTRUCTION OF APPROXIMATELY 2,525 STUDENTS, INCLUDING ACADEMIC SUPPORT, OPERATING LIBRARY AND TECHNOLOGY CENTER. 7795511 1246309 STUDENT SERVICES, ADMISSIONS, REGISTRARS, ATHLETICS, CAREER PLANNING AND PLACEMENT, STUDENT HEALTH AND OTHER SERVICES FOR APPROXIMATELY 825 CAMPUS LIVING STUDENTS. 7026287 6078047 AUXILIARY ENTERPRISES, DORMITORIES, DINING HALL, FORUM AND CONFERENCE CENTER FOR APPROXIMATELY 825 CAMPUS LIVING STUDENTS. 49435496 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 1 161 0 1 1858 1 1 1 0 0 0 0 0 0 0 0 0 X 21 20 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X SUZETTE RADKE 7127492044 610 WEST 4TH STREET STORM LAKE IA 505881798 FREDERICK V MOORE 40.00 X X 206412 0 52755 EDWARD BOCK 1.00 X 0 0 0 EDWARD BODAKEN 1.00 X 0 0 0 MARC BRINKMEYER 1.00 X 0 0 0 TIMOTHY BROWN 1.00 X 0 0 0 DOUGLAS CLAUSEN 1.00 X 0 0 0 ROBERT L CRAMER 1.00 X 0 0 0 BECKI DRAHOTA 1.00 X 0 0 0 DORIS FRITCHER 1.00 X 0 0 0 JAMES S HAAHR 1.00 X 0 0 0 LAURA HORN 1.00 X 0 0 0 KENNETH B KAPLAN 1.00 X 0 0 0 NORMAN NIELSEN 1.00 X 0 0 0 CORDELL PETERSON 1.00 X 0 0 0 BERNIE SAGGAU 1.00 X 0 0 0 DENNIS E YOUNG 1.00 X 0 0 0 QUENTIN WITTROCK 1.00 X 0 0 0 JOHN ASCHENBRENNER 1.00 X 0 0 0 TIMOTHY PIERCE 1.00 X 0 0 0 STEPHEN RUSSELL 1.00 X 0 0 0 WENDY WAUGAMAN 1.00 X 0 0 0 MARICA NANCE 40.00 X 116592 0 14013 KENNETH CONVERSE 40.00 X 129184 0 26841 DAVID EVANS 40.00 X 117337 0 30797 KEITH BETTS 40.00 X 120449 0 23812 ELIZABETH MERTEN 40.00 X 126770 0 27792 STANTON ULLERICH 40.00 X 108747 0 21948 925491 0 197958 7 0 1 0 KPMG LLP PO BOX 120001 DALLAS TX 753120970 PROFESSIONAL SERVICES 431452 EDUCATIONAL MARKETING GROUP 18690 E PLAZA DR STE 101 PARKER CO 80134 MARKETING 236269 CRANE METAMARKETING LTD 831 CHRISTOPHER ROBIN RD ALPHARETTA GA 30005 MARKETING 218124 MACK HANSEN GADD ARMSTRONG & BROWN 316 E 6TH STORM LAKE IA 50588 LEGAL 150327 BWBR ARCHITECTS 380 ST PETER ST STE 600 ST PAUL MN 551021996 ARCHITECT 139822 5 4058442 1432545 4058442 TUITION AND FEES 611600 41886131 41886131 SALES AND SERVICE AUXI 611710 6078047 6078047 SALES AND SERVICE EDUC 611710 1234461 1190195 44266 PARKING, COLLECTION OF 611710 56114 56114 49254753 2145315 2145315 61679313 27230 54374946 12150 7304367 15080 7319447 7319447 CONFERENCE CENTER 721000 286454 286454 FITNESS CENTER 713940 5699 5699 TACK ADVERTISING 511120 5089 5089 -237286 -237286 59956 62837913 49210487 59956 9509028 12574822 12574822 1056012 476241 421006 158765 19064517 15004604 3584050 475863 1438396 1011236 384259 42901 3251140 2296943 861065 93132 1634828 1149333 436735 48760 220649 92761 127888 64845 64845 1932290 1030760 772518 129012 316133 48166 209886 58081 2016547 1386834 525155 104558 388323 382191 6132 1543909 1318535 225374 1151469 634706 477629 39134 617 617 81069 81069 3755940 3548506 189534 17900 84527 84527 FOOD SERVICE & ALLOWANC 2441423 2441423 SITE LOCATIONS 1403675 1403675 3165740 4468547 -1338510 35703 57586871 49435496 6947566 1203809 3732179 3145229 1101870 2844771 1369988 1258787 272395 495790 132027606 77602861 53307355 54424745 91517997 110977360 7370321 11648014 3392684 3357725 1377440 15643575 163442229 203795996 3149410 4313654 2651300 2660822 2698977 3441485 16830000 31965827 25281 2440 4889313 4986898 30244281 47371126 X 75130333 82188087 31916640 45945181 26150975 28291602 133197948 156424870 163442229 203795996 X 5251042 17975880 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 83614628 1917883 26576967 -766331 -4268217 -394102 106680828 75196617 1951418 12219063 -1081113 -4036876 -634481 83614628 114729654 582554 -31951206 -1194310 -6625667 -344408 75196617 0.32000 0.68000 0 0 3152982 3152982 88830354 44377365 44452989 35876438 30895457 4980981 4167832 2330039 1837793 54424745 REAL ESTATE INVESTMENTS 11256413 F CASH SURRENDER VALUE - LIFE INSURANCE 236827 F OTHER 154774 F 11648014 TRUSTEED CASH 15041525 INTEREST 326521 DEFERRED LOAN COSTS, NET 275529 15643575 SPLIT INTEREST AGREEMENTS 4986898 4986898 62837913 57586871 5251042 17729754 8840 237286 17975880 23226922 68238971 17729754 8840 17738594 50500377 12337536 12337536 62837913 45012049 0 45012049 12574822 12574822 57586871 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE UNIVERSITY HAS A TAX DETERMINATION LETTER FROM THE IRS STATING THAT IT QUALIFIES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL INCOME TAXES. THE UNIVERSITY FILES A FORM 990 (RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX) ANNUALLY. WHEN THESE RETURNS ARE FILED, IT IS HIGHLY CERTAIN THAT SOME POSITIONS TAKEN WOULD BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES, WHILE OTHERS ARE SUBJECT TO UNCERTAINTY ABOUT THE MERITS OF THE TAX POSITION TAKEN OR THE AMOUNT OF THE POSITION THAT WOULD ULTIMATELY BE SUSTAINED. EXAMPLES OF TAX POSITIONS COMMON TO UNIVERSITIES INCLUDE SUCH MATTERS AS THE TAX-EXEMPT STATUS OF EACH ENTITY AND VARIOUS POSITIONS RELATIVE TO POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME (UBIT). UBIT IS REPORTED ON FORM 990-T, AS APPROPRIATE. THE BENEFIT OF TAX POSITION IS RECOGNIZED IN THE FINANCIAL STATEMENTS IN THE PERIOD DURING WHICH, BASED ON ALL AVAILABLE EVIDENCE, MANAGEMENT BELIEVES THAT IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING THE RESOLUTION OF APPEALS OR LITIGATION PROCESSES, IF ANY. TAX POSITIONS ARE NOT OFFSET OR AGGREGATED WITH OTHER POSITIONS. TAX POSITIONS THAT MEET THE "MORE LIKELY THAN NOT" RECOGNITION THRESHOLD ARE MEASURED AS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS MORE THAN 50% LIKELY TO BE REALIZED ON SETTLEMENT WITH THE APPLICABLE TAXING AUTHORITY. UPON THE ADOPTION OF FIN 48 AS OF JUNE 30, 2011 AND 2010, THERE WERE NO UNCERTAIN TAX BENEFITS IDENTIFIED AND RECORDED AS A LIABILITY. PART XI, LINE 8 - OTHER ADJUSTMENTS: TAX LOSS ON PARTNERSHIP INTEREST 237,286. PART V Q4: ENDOWMENT FUNDS ARE USED FOR BUILDINGS, SCHOLARSHIPS, PROGRAMS AND THE OPERATING BUDGET. PART XII Q4B: RECLASSIFY SCHOLARSHIPS AND FELLOWSHIP $12,574,822 TAX LOSS ON PARTNERSHIP INTERESTS $ (237,286) PART XIII Q4B: RECLASSIFY SCHOLARSHIPS AND FELLOWSHIP $12,574,822 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 PUBLICIZED RACIALLY NON DISCRIMINATORY POLICY THROUGH VARIOUS COMMUNICATIONS. ALL MATERIALS PUBLISHED THROUGH THE NEWSPAPER OR BROADCAST MEDIA FOR THE PURPOSE OF RECRUITING STUDENTS CONTAINS INFORMATION ON THE NON-DISCRIMINATORY POLICY. IN ADDITION, THIS MATERIAL IS INCLUDED IN ALL RECRUITMENT LITERATURE, INCLUDING THE CATALOG AND STUDENT HANDBOOK. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 BUENA VISTA UNIVERSITY RECEIVES FINANCIAL ASSISTANCE FROM A GOVERNMENT AGENCY. BUENA VISTA UNIVERSITY RECEIVES FINACIAL ASSISTANCE FROM THE U.S. DEPARTMENT OF EDUCATION. 1 SEOG CONTRIBUTION 47 95116 TUITION REMISSION 6 79436 CENTER GRANTS 16 18832 ENDOWED/RESTRICTED GIFTS 180 539097 FALL SCHOLARSHIPS 975 6734195 SPRING SCHOLARSHIPS 909 4581191 ACADEMIC ASSISTANTSHIPS 115 83735 DOLLARS FOR SCHOLARS 22 2150 WORKSTUDY 457 278083 WORKSTUDY MAY-JUNE 100 33950 WORKSTUDY JULY-AUG 103 65482 ROTC 8 49394 YELLOW RIBBON 2 14161 OTHER INFORMATION: PART IV: PART III - WORKSTUDY AND SEOG CONTRIBUTION NUMBER OF RECIPIENTS IS BASED ON AN ESTIMATE SINCE BOTH FIGURES ARE CALCULATED ON THE INSTITUTIONAL SHARE BASED ON TOTAL AMOUNT OF FUNDS AWARDED. FOR EXAMPLE, THE AVERAGE AMOUNT OF SEOG GIVEN TO STUDENTS IS $2,000 PER YEAR AND THE TOTAL INSTITUTIONAL FUNDS GIVEN IS $95,116. DIVIDING $95,116 BY $2,000 YIELDS APPROXIMATELY 47 STUDENTS. PART I, Q2: OUR FINANCIAL AID OFFICE MONITORS THE USE OF GRANT FUNDS AND OTHER ASSISTANCE TO INDIVIDUALS IN THE UNITED STATES. THEY REVIEW EACH STUDENT TO VERIFY THEIR ELIGIBILITY REQUIREMENTS FOR THE SPECIFIC GRANTS AND OTHER ASSISTANCE. X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 FREDERICK V MOORE 183799 0 0 0 22613 0 16143 0 36612 0 259167 0 0 0 KENNETH CONVERSE 127236 0 0 0 1948 0 11265 0 15576 0 156025 0 0 0 ELIZABETH MERTEN 123315 0 0 0 3455 0 11068 0 16724 0 154562 0 0 0 SUPPLEMENTAL INFORMATION PART III PART I 1A: FREDERICK MOORE, PRESIDENT OF BUENA VISTA UNIVERSITY, IS GIVEN AN ANNUAL DISCRETIONARY SPENDING ACCOUNT TO BE USED FOR VARIOUS EXPENDITURES RELATED TO UNIVERSITY PROGRAMS, PROJECTS, ETC. HE IS ALSO PROVIDED A RESIDENCE FOR PERSONAL USE THAT IS ALSO USED FOR BUSINESS PURPOSES. IN ADDITION, THE UNIVERSITY HIRES AN ACCOUNTANT TO PREPARE MOORE'S INCOME TAX RETURNS. THE COST OF THE TAX PREPARATION IS ADDED TO HIS W-2 AS TAXABLE INCOME. IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 462460C46 2007-05-01 7870000 VARIOUS CAPITAL PROJECTS 0 0 0 IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 462460M86 2011-05-19 1893506 VARIOUS CAPITAL PROJECTS 0 0 0 IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 462460Q74 2011-05-25 15777321 VARIOUS CAPITAL PROJECTS 0 0 0 600000 8128590 85903 8155 8034532 2008 0 0 1 1 1893513 19951 1191269 682293 0 0 0 1 15777863 155095 1255635 14367132 0 0 0 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 NATIXIS FUND CORP 1.400000000000 1 0 0 X 2 175000 SELLING PRICE X 100 COST X 2050 COST X 13 1028968 STOCK EXCHANGE X 1 198135 COST X 1 10832 COST X CAR LEASE 2 15000 COST X GIFT CARDS 3 460 COST X HOTEL ACCOMODATIONS 2 2000 COST 0 1 0 THIRD PARTY USE: PART I, LINE 32B: IN COLUMN(B), BUENA VISTA UNIVERSITY IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED FOR THE PROPERTY LISTED. FORM 990, PART VI, SECTION B, LINE 11 BUENA VISTA UNIVERSITY'S AUDIT COMMITTEE REVIEWS THE 990 BEFORE IT IS FILED. THE FINAL DRAFT IS GIVEN TO ALL OF THE BOARD OF TRUSTEES BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR BUENA VISTA UNIVERSITY PROVIDES THEIR BOARD OF TRUSTEES A CONFLICT OF INTEREST SHEET THAT DISCLOSES ALL THE CONFLICTS OF INTEREST. ALL TRUSTEES ARE REQUIRED TO MAKE ANY CHANGES AND SIGN THEIR NAME. FORM 990, PART VI, SECTION B, LINE 15 QUESTION 15A - PROCESS FOR DETERMINING COMPENSATION OF ORGANIZATION'S PRESIDENT THE PRESIDENT OF BUENA VISTA UNIVERSITY'S SALARY IS REVIEWED AND APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES EACH YEAR. ANY TRUSTEE WITH A CONFLICT OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT AT ISSUE, IS NOT INVOLVED. THE COMPENSATION COMMITTEE ALSO REVIEWS THE SALARIES OF OTHER PRESIDENTS AT IOWA COLLEGES AND UNIVERSITIES EACH YEAR AND COMPARES THE COMPENSATION BEING RECEIVED BY BUENA VISTA UNIVERSITY'S PRESIDENT. THE COMPENSATION COMMITTEE CONTEMPORANEOUSLY DOCUMENTS AND RECORDS ALL DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENT. BUENA VISTA UNIVERSITY ALSO HIRES AN OUTSIDE CONSULTANT EVERY THREE YEARS TO REVIEW ALL SALARIES GIVEN BY THE UNIVERSITY. THIS WAS LAST DONE IN 2008. QUESTION 15B - PROCESS FOR DETERMINING COMPENSATION OF ORGANIZATION'S OTHER OFFICERS OR KEY EMPLOYEES THE SALARIES OF OFFICERS OF BUENA VISTA UNIVERSITY ARE REVIEWED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES EACH YEAR AND FINAL APPROVAL IS GIVEN BY THE PRESIDENT. ANY TRUSTEE WITH A CONFLICT OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT AT ISSUE, IS NOT INVOLVED. THE COMPENSATION COMMITTEE AND PRESIDENT ALSO REVIEW THE SALARIES OF OTHER OFFICERS AT IOWA COLLEGES AND UNIVERSITIES EACH YEAR AND COMPARES THE COMPENSATION TO THE COMPENSATION RECEIVED BY BUENA VISTA UNIVERSITY'S OFFICERS. THE COMPENSATION COMMITTEE AND THE PRESIDENT CONTEMPORANEOUSLY DOCUMENT AND RECORD ALL DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENT. BUENA VISTA UNIVERSITY ALSO HIRES AN OUTSIDE CONSULTANT EVERY THREE YEARS TO REVIEW ALL SALARIES GIVEN BY THE UNIVERSITY. THIS WAS LAST DONE IN 2008. FORM 990, PART VI, SECTION C, LINE 19 BUENA VISTA UNIVERSITY PROVIDES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 17,729,754. DONATED SERVICES AND USE OF FACILITIES: 8,840. TAX LOSS ON PARTNERSHIP INTEREST 237,286. TOTAL TO FORM 990, PART XI, LINE 5: 17,975,880. AUDIT COMMITTEE RESPONSIBILITIES FORM 990, PART XII, 2C THE BOARD OF TRUSTEES FOR BUENA VISTA UNIVERSITY HAS AN AUDIT COMMITTEE THAT IS RESPONSIBLE FOR THE OVERSIGHT OF THE UNIVERSITY'S ANNUAL AUDIT OF ITS FINANCIAL STATEMENTS. THE AUDIT COMMITTEE IS ALSO RESPONSIBLE FOR CHOOSING THE INDEPENDENT AUDITOR EACH YEAR. AUDIT REQUIREMENTS FORM 990, PART XII, 3B BUENA VISTA UNIVERSITY IS REQUIRED TO UNDERGO AN AUDIT AS SET FORTH IN THE SINGLE AUDIT ACT AND OMB CIRCULAR A-133. BUENA VISTA UNIVERSITY UNDERWENT THIS AUDIT BY MCGLADREY & PULLEN, LLC FOR 6-30-2011. VOLUNTEERS FORM 990, PART I, 6 THE NUMBER OF VOLUNTEERS WAS DETERMINED BY THE INSTITUTIONAL ADVANCEMENT OFFICE. DUTIES FOR VOLUNTEERS INCLUDED: ALUMNI CALLING PROSPECTIVE STUDENTS AND ALUMNI HELPING WITH EVENTS ON CAMPUS. BUENA VISTA UNIVERSITY FOUNDATION 610 WEST 4TH STREET STORM LAKE IA 50588 421463509 SUPPORT IA 501(C)(3) 11D N/A 1 MCELROY BUENA VISTA LOAN FUND 610 WEST 4TH STREET STORM LAKE IA 50588 421256053 LOAN FUND IA 501(C)(3) 11A N/A 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0