2011-09-23T15:25:29-05:00 2010-05-31 RSM MCGLADREY INC 221 THIRD AVENUE SE SUITE 300 CEDAR RAPIDS IA 524011512 990 2009-06-01 420680412 LORAS COLLEGE LORA 5635887100 1450 ALTA VISTA DUBUQUE IA 52001 STEPHEN J SCHMALL 5635887100 2011-09-20 1 Kay Hegarty 3192985333 2009 2016-03-07 17:11:31Z JAMES COLLINS 1450 ALTA VISTA DUBUQUE IA 52001 86838345 0 X WWW.LORAS.EDU X 1839 IA EDUCATION 28 26 1391 300 108260 0 10931511 8405847 45361040 46022711 413737 3276683 300966 248355 57007254 57953596 16826369 17801451 0 20717286 21098372 63035 62216 1642930 17705916 17592648 55312606 56554687 1694648 1398909 114980378 113925665 73178444 74230739 41801934 39694926 LORAS, AS A CATHOLIC LIBERAL ARTS COLLEGE, CREATES A COMMUNITY OF ACTIVE LEARNERS, REFLECTIVE THINKERS, ETHICAL DECISION MAKERS AND RESPONSIBLE CONTRIBUTORS IN DIVERSE PROFESSIONAL, SOCIAL AND RELIGIOUS ROLES. 0 0 17801451 17801451 0 SCHOLARSHIPS & GRANTS TO STUDENTS. 14499268 0 38600003 INSTRUCTION & ACADEMIC SUPPORT PROVIDED TO FULL AND PART TIME STUDENTS (1,509 FULL-TIME EQUIVALENT STUDENTS). 8318512 0 2757030 STUDENT SERVICES, INCLUDING STUDENT DEVELOPMENT, INTERCOLLEGIATE ATHLETICS AND OTHER SERVICES. 12608447 0 4665678 OTHER PROGRAM SERVICES INCLUDE AUXILIARY PROGRAMS SUCH AS HOUSING AND FOOD SERVICE, RESEARCH, PUBLIC SERVICE AND INSTITUTIONAL SUPPORT. 12608447 4665678 53227678 1 1 0 1 0 0 0 1 0 1 1 1 0 1 1 1 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 1 0 1 1 1 0 0 0 0 1 1 0 0 1 167 0 1 1391 1 1 1 1 EI 0 0 0 1 1 0 0 0 28 26 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 0 1 1 1 1 1 IL CA X STEPHEN J SCHMALL 5635884992 1450 ALTA VISTA STREET DUBUQUE IA 52001 JAMES COLLINS 40.00 X X 263727 0 23153 MOST REV JEROME HANUS OSB 1.00 X X 0 0 0 JAMES W BEAR 1.00 X 0 0 0 J PAUL BREITBACH 1.00 X 0 0 0 KATHY HANNAN 1.00 X 0 0 0 GREG GUMBAL 1.00 X 0 0 0 ELDON T HERRIG 1.00 X 0 0 0 THERESA HOFFMAN 1.00 X X 0 0 0 DENNIS HOULIHAN 1.00 X 0 0 0 JOHN MULHERIN 1.00 X 0 0 0 TONY REARDON 1.00 X 0 0 0 STEPHANIE SAVAGE 1.00 X 0 0 0 REV JOHN PSCHLEGEL 1.00 X 0 0 0 JOHN SCHMIDT 1.00 X X 0 0 0 NATALIE SCHRAMM 1.00 X 0 0 0 DAVID W SPAHN 1.00 X 0 0 0 ANDREW P STUDDERT 1.00 X 0 0 0 THOMAS J TAUKE 2.00 X X 0 0 0 TROY CICERO 1.00 X 0 0 0 MICHAEL COLLOTON 1.00 X 0 0 0 JAMES M DAVIS 1.00 X 0 0 0 VERY REV EVERETT HEMANN 1.00 X 0 0 0 RICHARD KENNEY 1.00 X 0 0 0 JEFFREY LADD 1.00 X 0 0 0 THOMAS E MCCARTY 1.00 X 0 0 0 JAMES THEISEN 1.00 X 0 0 0 SISTER MARGARET WICK 1.00 X 0 0 0 DAVID WILSON 1.00 X 0 0 0 JOHN WERTZBERGER 40.00 X 120238 0 13434 STEPHEN J SCHMALL 40.00 X 115505 0 63469 CHERYL JACOBSEN 40.00 X 130499 0 16106 LISA L BUNDERS 40.00 X 105467 0 22053 ROBERT TUCKER 40.00 X 112786 0 13221 848222 0 151436 6 0 1 0 ARAMARK 1450 ALTA VISTA DUBUQUE IA 52004 FOOD SERVICE 2636343 CONLON CONSTRUCTION PO BOX 3400 DUBUQUE IA 52001 CONSTRUCTION 647013 ROYALL & COMPANY 1920 E PARHAM RD RICHMOND VA 23228 ENROLLMENT MGMT SERVICES 162758 3 6444 925897 7473506 1104077 8405847 COLLEGE FEES & SERVICE 611600 36505894 36505894 SALES AND SERVICES OF 900099 8404382 8404382 SALES AND SERVICES OF 900099 519775 519775 FINE INCOME 900099 84460 84460 DELINQUENCY CHARGES 900099 51489 51489 456711 456711 46022711 405554 405554 31740186 28869057 2871129 2871129 2871129 139555 6444 1354 138201 138201 16232 14338 1894 1894 FACILITIES, RENTAL, CA 722320 104689 104689 AVR INCOME 900003 3163 3163 ADVERTISING 541800 408 408 108260 57953596 36505894 108260 12933595 17801451 17801451 904425 146556 536436 221433 16133482 15128580 217131 787771 773794 724017 3452 46325 2143291 1941362 141801 60128 1143380 1028775 50605 64000 42640 42640 83709 1263 82446 51508 153 51355 3554 3554 62216 62216 65411 250 65161 1077368 1001529 57472 18367 187442 170982 16460 2271549 2078159 100451 92939 1412315 1367828 4962 39525 1196020 1196020 810199 706426 39229 64544 24854 18943 2827 3084 2227709 2227709 2995079 2995079 231638 231638 FOOD SERVICE 2426572 2426572 REPAIRS AND MAINTENANCE 445802 445556 246 RECRUITING EXPENSES 226033 171948 53955 130 LIBRARY MATERIALS 193758 193758 DUES AND SUBSCRIPTIONS 177791 62380 95100 20311 1441697 1118104 177896 145697 56554687 53227678 1684079 1642930 45131 53445 7884584 5107230 24044006 26279558 697500 588091 86188 74192 686397 699200 98718723 40614449 60413232 58104274 8865890 11508077 2052784 1890749 6441187 5746319 3763479 3874530 114980378 113925665 3305405 2929756 1522476 1828722 53485000 52010000 728943 712490 14136620 16749771 73178444 74230739 X -6917946 -12135431 26806373 29347752 21913507 22482605 41801934 39694926 114980378 113925665 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 0 0 0 0 0 0 0 0 426038 X X X X 0 18602945 384208 315574 0 153734 0 19148993 28418475 663848 -9137075 705828 636475 0 18602945 0.00100 0.99900 0 0 1151080 1151080 75748946 25981694 49767252 11376189 8271632 3104557 10442508 6361123 4081385 58104274 CASH & CASH EQUIVALENTS 349335 F STUDENT LOANS 5396984 F 5746319 AMOUNTS HELD FOR OTHERS 409982 ANNUITIES AND UNITRUSTS PAYABLE 875592 ACCRUED LOSS ON INTEREST RATE SWAP 10280823 DUE TO US GOVERNMENT 3293477 FINANCING OBLIGATION 1889897 16749771 57953596 56554687 1398909 -2745350 -760567 -3505917 -2107008 37440172 36000 1354 37354 37402818 20550778 20550778 57953596 39547180 36000 761921 797921 38749259 17805428 17805428 56554687 Part III, Line 4: THE COLLEGE MAINTAINS VARIOUS ARTWORKS, MANUSCRIPTS, STATUES, PAINTINGS, BOOKS, AND FURNITURE THAT PRESERVES THE HERITAGE OF THE COLLEGE AND PROMOTES ITS SCHOLARSHIPS ENDEAVORS. Part V, Line 4: Description of Intended Use of Endowment Funds: THE ENDOWMENT HAS BEEN ESTABLISHED TO PROVIDE A SUFFICIENT TOTAL RETURN TO SUPPLEMENT THE COLLEGE'S VARIOUS SOURCES OF OPERATING INCOME AND TO SUPPORT IN PERPETUITY THE MISSION OF THE COLLEGE. Part X: Description of Uncertain Tax Positions Under FIN 48: IN ACCORDANCE WITH THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, THE COLLEGE ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE COLLEGE MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERIT OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF THE COLLEGE AND VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME. THERE WERE NOT SIGNIFICANT UNRECOGNIZED TAX BENEFITS IDENTIFIED OR RECORDED AS LIABILITIES DURING FISCAL YEAR 2010. OPEN TAX YEARS SUBJECT TO EXAMINATION BY THE U.S. AND STATE TAXING AUTHORITIES ARE FOR YEARS 2007 TO 2009, WHICH STATUTES EXPIRE IN 2010-2012, RESPECTIVELY. Part XI, Line 8 - Other Adjustments: UNREALIZED GAINS (LOSS) ON INTEREST RATE SWAP: -760567. Part XII, Line 2d - Other Adjustments: DIRECT FUND RAISING EXPENSE REPORTED AS CONTRA INCOME: 1354. Part XII, Line 4b - Other Adjustments: SCHOLARSHIPS AND GRANTS REPORTED AS CONTRA INCOME: 17801451. KIOSK REFERRAL INCOME REPORTED AS CONTRA EXPENSE: 3977. UNREALIZED LOSS ON INVESTMENTS: 2745350. Part XIII, Line 2d - Other Adjustments: DIRECT FUNDRAISING EXPENSE REPORTED AS CONTRA REVENUE: 1354. UNREALIZED LOSS ON INTEREST RATE SWAP: 760567. Part XIII, Line 4b - Other Adjustments: SCHOLARSHIPS AND GRANTS REPORTED AS CONTRA INCOME: 17801451. KIOSK REFERRAL INCOME REPORTED AS CONTRA EXPENSE: 3977. 1 1 1 THE COLLEGE'S NONDISCRIMINATORY POLICY IS PUBLISHED IN ITS UNDERGRADUATE BULLETIN AND STUDENT HANDBOOK AS WELL AS AVAILABLE VIA ITS WEBSITE. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 THE COLLEGE RECEIVES FINANCIAL AID FROM FEDERAL AND STATE GOVERNMENTS. THIS AID IS THEN AWARDED TO STUDENTS IN ACCORDANCE WITH THE GUIDELINES ESTABLISHED FOR EACH FORM OF FINANCIAL AID. 1 EUROPE 0 1 PROGRAM SERVICES STUDY ABROAD 214822 NORTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 37231 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 20166 EUROPE INVESTMENTS 0 1 272219 X X X X X X X 1 RUFFALO CODY & ASSOCIATES PHONATHON 0 285176 62216 222960 285176 62216 222960 AUCTION 17610 6444 11166 1354 ATHLETICS FUNDRAISER 121671 121671 2 6718 6718 145999 6444 139555 1354 1354 138201 16232 4359 142 9837 1 16232 4359 142 9837 14338 1894 IA 1 0 1 0 0.72000 0.28000 STEPHEN J SCHMALL 1450 ALTA VISTA STREET DUBUQUE IA 52001 0 0 1 SCHOLARSHIP AID FOR STUDENTS' COST OF ATTENDANCE 1560 17801451 0 N/A N/A Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: THE COLLEGE'S OFFICE OF FINANCIAL PLANNING MONITORS ALL AWARDS TO ENSURE COMPLIANCE WITH FEDERAL AND STATE REGULATIONS. ADDITIONALLY, THE COLLEGE ENGAGES AN INDEPENDENT AUDIT IN ACCORDANCE WITH OMB A-133. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 JAMES COLLINS 222168 0 30000 0 11559 0 8371 0 14782 0 286880 0 0 0 STEPHEN J SCHMALL 110601 0 0 0 4904 0 6531 0 56938 0 178974 0 0 0 Part I, Line 1a THE DISCRETIONARY SPENDING ACCOUNT FOR AN EMPLOYEE IS PART OF THE NORMAL TAXABLE WAGES PAID TO THE EMPLOYEE AND IS INCLUDED AS PART OF THE EMPLOYEE'S TAXABLE INCOME. COUNTRY CLUB DUES ARE PROVIDED TO CERTAIN EMPLOYEES AS A MEANS TO THE COLLEGE EXPANDING ITS CHARITABLE PURPOSE. ANY PORTION OF THE DUES ATTRIBUTABLE TO THE PERSONAL USE BY THE EMPLOYEE ARE ADDED TO THE EMPLOYEE'S W-2; ONLY THE PORTION ALLOCABLE TO THE BUSINESS PURPOSE OF THE COLLEGE ARE ALLOWED. IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 462460ZC3 2006-10-01 22035000 REFINANCE 1996 ISSUE, CONSTRUCTION 0 0 IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 2009-05-20 6000000 WORKING CAPITAL 0 0 IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 2010-05-20 4000000 WORKING CAPITAL 0 0 IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 2010-05-20 3000000 WORKING CAPITAL 0 0 22035000 137760 17892905 2007 1 0 1 1 6059280 6059280 2010 0 0 1 1 4000000 4000000 2011 0 0 1 1 3000000 3000000 2011 0 0 1 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 1 1 1 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 VARIOUS STUDENTS RELATED FAMILY MEMBERS SCHOLARSHIPS Amount $ 61465. KRISTIE L ARTHOFER DAUGHTER OF REGENT 21244 COMPENSATION 0 X 400 DONOR VALUATION X 68 496357 AVG HIGH/LOW SHARE VALUE X CONSTRUCTION 1 370484 DONOR VALUATION X SCIENTIFIC EQUIPMENT 1 100000 DONOR VALUATION X PRIZES/AUCTION ITEMS 139 20092 DONOR VALUATION X OFFICE EQUIP & MACH 9 7886 DONOR VALUATION 0 1 1 Method for Determining Number of Contributors: Part I, Column (b): PART 1 OTHER: CLASSROOM EQUIPMENT AND MATERIALS: $4,661 FOOD/BEVERAGE FOR EVENTS: $4,389 TECHNOLOGY EQUIPMENT: $4,304 LODGING: $3,224 FURNITURE/DECOR: $2,281 PART 1, COLUMN B: THE NUMBER OF CONTRIBUTORS RATHER THAN THE NUMBER OF ITEMS IS REPORTED. SCHEDULE M, LINE 32B: LORAS COLLEGE'S FINANCIAL INSTITUTION SELLS ALL PUBLICLY TRADED SECURITIES AT THE OF GIFT ON BEHALF OF LORAS COLLEGE THROUGH AN INDEPENDENT BROKER. Form 990, Part VI, Section B, line 11 THE COLLEGE MAKES THE 990 AVAILABLE TO ALL BOARD MEMBERS VIA A SECURE PORTAL WEBSITE PRIOR TO FILING WITH THE IRS. THIS IS THE PROCESS BY WHICH THE BOARD MEMBERS REVIEW THE 990. Form 990, Part VI, Section B, line 12c ANNUALLY, EACH OFFICER, DIRECTOR, AND KEY EMPLOYEE MUST FILE A STATEMENT VERIFYING S/HE HAS READ THE CONFLICT OF INTEREST POLICY AND IS DISCLOSING ANY CONFLICTS OF INTEREST. EACH STATEMENT IS SENT DIRECTLY TO THE AUDIT COMMITTEE CHAIRPERSON. THE CHAIR AND COLLEGE'S TREASURER REVIEW EACH STATEMENT. IN ADDITION, THE TREASURER AND CONTROLLER MONITOR ANY TRANSACTIONS THROUGHOUT THE YEAR BETWEEN SUCH PARTIES. EACH TRANSACTION IS LOGGED WITH THE COLLEGE'S GENERAL LEDGER SYSTEM. Form 990, Part VI, Section B, line 15 THE PROCESS USED BY THE COLLEGE IN DETERMINING COMPENSATION OF KEY EMPLOYEES IS: - BOARD APPOINTED COMPENSATION COMMITTEE REVIEWS ALL RECOMMENDED COMPENSATION LEVELS - COMPARATIVE BENCHMARK DATA IS USED (IAICU, CUPA, AND OTHERS) - WRITTEN EMPLOYMENT CONTRACTS ARE IN PLACE FOR THE PRESIDENT; OTHER KEY EMPLOYEES IN ACCORDANCE WITH THE COLLEGE'S HANDBOOKS - COMPENSATION IS FORMALLY APPROVED BY THE FULL BOARD OF REGENTS Form 990, Part VI, Section C, line 19 THE COLLEGE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST STATEMENT AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC VIA ANOTHER'S WEBSITE, SUCH AS GUIDESTAR.ORG, OR UPON REQUEST. Schedule G, Part I, Line 2b, Column (v) Explanation of Fundraising Payments THE COLLEGE CONTRACTS WITH RUFFALO CODY FOR A FIXED AMOUNT TO ASSIST THE COLLEGE IN ITS ANNUAL PHONATHON. THIS AMOUNT IS PAID IN INSTALLMENTS TO RUFFALO CODY. FORM 990, PART VI, SECTION B, LINE 13 WRITTEN WHISTLEBLOWER POLICY THE COLLEGE IS IN THE PROCESS OF ADOPTING A WRITTEN WHISTLEBLOWER POLICY. NATIONAL ALUMNI ASSOCIATION OF LORAS COLLEGE 1450 ALTA VISTA STREET DUBUQUE IA 52001 421371056 SUPPORT OF COLLEGE IA 501(C)(3) 11B N/A MCELROY TRUST 1450 ALTA VISTA STREET DUBUQUE IA 52001 421239612 SUPPORT OF COLLEGE IA 501(C)(3) 11A N/A ALTA VISTA RESEARCH INC 1450 ALTA VISTA STREET DUBUQUE IA 52001 MARKET RESEARCH IA N/A C 98226 33348 0.90000 1 0 0 1 0 0 0 0 1 0 0 1 0 0 0 0 0 0 ALTA VISTA RESEARCH INC A 3163 ALTA VISTA RESEARCH INC D 29837 ALTA VISTA RESEARCH INC L 11130