2011-05-16T14:50:47-05:00 2010-06-30 Capin Crouse LLP 972 Emerson Parkway Ste A Greenwood IN 46143 990 2009-07-01 841029228 Naropa University NARO 3034440202 2130 Arapahoe Ave Boulder CO 80302 Stuart Lord 3034440202 2011-05-16 1 Dave Moja 3178852620 2009 2016-02-24 21:20:13Z Stuart Lord 2130 Arapahoe Ave Boulder CO 80302 22833899 0 X www.naropa.edu X 1974 CO Naropa University is North America's leading institution of contemplative education. 22 21 955 21 0 0 811646 1087173 16184364 21219101 275420 245532 141258 124698 17412688 22676504 0 3974618 0 0 12276541 12392638 0 20504 996971 5360995 6209850 17637536 22597610 -224848 78894 31455815 31488994 16202084 15130263 15253731 16358731 Inspired by the rich intellectual and experiential traditions of East and West, Naropa University is North America's leading institution of contemplative education.Naropa recognizes the inherent goodness and wisdom of each human being. It educates the whole person, cultivating academic excellence and contemplative insight in order to infuse knowledge with wisdom. The university nurtures in its students a lifelong joy in learning, a critical intellect, the sense of purpose that accompanies compassionate service to the world, and the openness and equanimity that arise from authentic insight and self-understanding. Ultimately, Naropa students explore the inner resources needed to engage courageously with a complex and challenging world, to help transform that world through skill and compassion, and to attain deeper levels of happiness and meaning in their lives.Drawing on the vital insights of the world's wisdom traditions, the University is simultaneously Buddhist-inspired. 0 0 18507191 3974618 21343799 The University offers undergraduate, graduate, and continuing education programs, in arts, social sciences, and the humanities. It is accredited by the North Central Association of Colleges and Schools. There are 1,201 graduate and undergraduate students. We offer 11 undergraduate programs and 6 graduate programs. 18507191 1 1 0 0 0 0 0 0 1 1 1 0 1 0 1 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 93 0 955 1 0 1 UK 0 0 0 0 0 0 0 22 21 1 1 0 1 0 0 0 1 1 0 0 0 1 1 1 1 0 1 1 1 1 X The Organization 3034440202 2130 Arapahoe Ave Boulder CO 80302 Martin Janowitz 3.00 X X 0 0 0 John Bennet 3.00 X X 0 0 0 Judith Lief 3.00 X X 0 0 0 Lynne Katzmann 3.00 X X 0 0 0 Andrew Schelling 40.00 X 49503 0 3199 Phillip Battos 3.00 X 0 0 0 John Baker 3.00 X 0 0 0 Andrew Davison 3.00 X 0 0 0 Gabrielle Edison 3.00 X 0 0 0 Margery Goldman 3.00 X 0 0 0 Jerry Colonna 3.00 X 0 0 0 Thomas Hast 3.00 X 0 0 0 Christopher Hormel 3.00 X 0 0 0 Victoria Keziah 3.00 X 0 0 0 Pamela Krasney 3.00 X 0 0 0 Charles Lief 3.00 X 0 0 0 Vijay Singh 3.00 X 0 0 0 Laura Rendon 3.00 X 0 0 0 Arbie Thalacker 3.00 X 0 0 0 Jim Rosen 3.00 X 0 0 0 Brooks Witter 3.00 X 0 0 0 Todd Woloson 3.00 X 0 0 0 Stuart Lord 40.00 X 90895 0 1038 Stuart Sigman 40.00 X 103826 0 4831 Susan Evans 40.00 X 91334 0 4374 Christopher Dwyer 40.00 X 104851 0 28 Thomas Coburn 40.00 X 185749 0 6163 626158 0 19633 3 1 1 0 Superior Cleaning Services 603 Eaton Circle Superior CO 80027 Janitorial Services 132470 Regional Transportation District PO Box 9769 Denver CO 802090769 Transportation passes 117153 Jackson Kelly PLLC 1099 18th Street Denver CO 80202 Legal Services 101040 3 295770 791403 6014 1087173 Tuition 611710 20061483 20061483 Auxiliary-Housing 611710 674860 674860 Auxiliary-PreSchool 611710 482758 482758 21219101 168329 168329 117299 117299 34519 122876 82780 -5577 77203 77203 Other revenue 900099 124698 124698 124698 22676504 21343799 0 245532 3974618 3974618 435521 339862 72344 23315 79803 62275 13256 4272 10505515 8198047 1745062 562406 49200 38393 8173 2634 576607 449959 95780 30868 745992 582140 123916 39936 65831 51372 10935 3524 56300 43934 9352 3014 20504 20504 1034590 823349 175261 35980 212519 165841 35301 11377 1050629 819862 174521 56246 165409 129078 27476 8855 1282629 1000908 213056 68665 316815 247229 52626 16960 85185 66475 14150 4560 6052 4723 1005 324 733601 572470 121858 39273 168584 131556 28003 9025 Bad debt 537166 419181 89228 28757 Student services 399051 311402 66286 21363 Taxes, Licenses, Penalt 46363 36180 7701 2482 Miscellaneous 36231 28274 6016 1941 Faculty development 12895 10063 2142 690 22597610 18507191 3093448 996971 3271 5032644 4746034 955382 526628 730153 875524 569233 459785 450839 23359739 5243067 18816643 18116672 5178197 2297232 279740 3906832 31455815 31488994 780775 2017533 688614 1202891 341142 11730000 11390000 1799804 1381588 16202084 15130263 X 12510406 13431230 1208826 1492331 1534499 1435170 15253731 16358731 31455815 31488994 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3029444 342419 195900 60606 3507157 4157674 4828 120454 1253512 3029444 0.59000 0.41000 0 0 5830585 5830585 15251774 3332902 11918872 2277380 1910165 367215 18116672 Endowment Assets 3906832 3906832 Swap agreement 1048311 Student deposits held 333277 1381588 22676504 22597610 78894 487308 858025 -319227 1026106 1105000 18869967 487308 -319227 168081 18701886 3974618 3974618 22676504 18622992 0 18622992 3974618 3974618 22597610 Part V, Line 4: Description of Intended Use of Endowment Funds: Each year, the University uses 5% of earnings from endowment funds for scholarships. Part X: Description of Uncertain Tax Positions Under FIN 48: On July 1, 2009, the University adopted the new provisions of the Income Tax Topic of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC). These provisions clarify the accounting for uncertainty in tax positions and prescribe guidance related to the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The tax benefit from an uncertain tax position is only recognized in the statement of financial position if the tax position is more likely than not to be sustained upon an examination, based on the technical merits of the position. Interest and penalties, if any, are included in expenses in the statement of activities. As of June 30, 2010, the University had no uncertain tax positions that qualify for recognition or disclosure in the financial statements. Part XI, Line 8 - Other Adjustments: Change in swap agreements: -319227. Part XII, Line 2d - Other Adjustments: Change in swap agreement: -319227. Part XII, Line 4b - Other Adjustments: Scholarships & grants grouped with revenue on the financial statements: 3974618. Part XIII, Line 4b - Other Adjustments: Scholarships & grants grouped with revenue on the financial statements: 3974618. 1 1 1 It's published on our admissions application and other places on our website. 1 1 1 1 We offer student loans through government programs such as Pell, Stafford, Perkins, and Direct Loans. We also have student workers and we receive a subsidy from the government to offset a portion of their compensation. 0 0 0 0 0 0 0 0 1 0 We offer student loans through government programs such as Pell, Stafford, Perkins, and Direct Loans. We also have student workers and we receive a subsidy from the government to offset a portion of their compensation. 1 Central America and the Caribbean 0 0 Program Services Short-term student trips 19200 Europe (Including Iceland & Greenland) 1 1 Program Services Master of Fine Arts Theatre Study Abroad 129847 1 1 149047 Method Used to Acccount for Expenditures: Schedule F, Part I, Line 3: The University accounted for foreign expenditures according to GAAP and the accrual basis of accounting using expense reports and other appropriate documentation. X X X X X X 1 Jeremy Jones Fundraising Consultant 0 0 20504 -20504 20504 -20504 CO 1 Scholarships, Tuition Discounts, Student Aid 880 3974618 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: The financial aid office monitors students adherence to academic scholarship requirements such as GPA and satisfactory academic progress. X 1 1 X X 1 0 0 0 0 0 0 0 0 Thomas Coburn 185749 0 0 0 0 0 0 0 6163 0 191912 0 0 0 Part I, Line 1a The president receives a taxable housing allowance. Part I, Line 4a Thomas Coburn, the former president, received $79,803 in severance pay during 2009. Colorado Education and Cultural Facilities Authority 840896727 196458J87 2005-08-04 6740000 University Capital Expenditure Projects 0 0 6740000 5727747 134800 813402 2025 0 0 0 0 0 0 0 0 0 0 0 1 1 Wells Fargo Bank NA 10.000000000000 0 0 0 Form 990, Part VI The University's former vice president for business and finance concluded her employment near the end of the organization's tax year. Thereafter, the University retained a company to provide the business and finance duties on an interim basis. Form 990, Part VI, Section A, line 2 Two members of the Board of Trustees are husband and wife, Charles Lief and Judith Lief. Form 990, Part VI, Section A, line 3 The University's former vice president for business and finance concluded her employment near the end of the organization's tax year. Thereafter, the University retained a company to provide the business and finance duties on an interim basis. Form 990, Part VI, Section A, line 5 The University learned in March 2010 that its accounts payable clerk embezzled $539,791.53 from Naropa between November 8, 2007 and March 15, 2010. This individual's employment was promptly terminated. The University cooperated with law enforcement officials in this matter. Form 990, Part VI, Section B, line 11 The Form 990 was prepared by an independent CPA firm and reviewed by the finance team before being filed with the IRS. Form 990, Part VI, Section B, line 12c Board members are required to disclose conflicts of interest annually. Form 990, Part VI, Section B, line 15 The salaries for the president, vice presidents and other high ranking employees are set by the Board in conjunction with the HR department and president. Board members involved will usually include the Chairman of the Board, the chair of the budget and finance committee, and members of the executive committee of the board. HR uses CUPA (College and University personnel Association) to get comparable salary information for similar positions at schools with similar size and revenue. The deliberations and decisions are documented in the board minutes. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy, and financial statements are available upon request. Form 990, Part XI, Line 2c: Explanation of Responsibility The Budget/Finance committee assumes the oversight of the audit of the financial statements and selection of an independent accountant. Form 990, Schedule D, Part V The audited financial statements made a prior period adjustment to endowments. This adjustment is reflected in the prior year balance in Part V.