2026-03-24T18:01:01-05:00 2025-06-30 410746749 CLIFTONLARSONALLEN LLP 420 SOUTH ORANGE AVENUE SUITE 900 ORLANDO FL 32801 990 2024-07-01 592961536 BEACON COLLEGE INC BEAC 3523651135 105 EAST MAIN STREET LEESBURG FL 34748 DR FREDERIC S GORE CFO 3523651135 2026-03-23 1 1 LACEY M QUATSOE P01300865 4078021200 2026-03-23 2024 2025-03-06 01:10:19Z DR FREDERIC S GORE 105 EAST MAIN STREET LEESBURG FL 34748 45771763 0 1 X WWW.BEACONCOLLEGE.EDU X 1989 FL FOUR-YEAR ACCREDITED COLLEGE SERVING NEURODIVERGENT STUDENTS WITH ASSOCIATES & BACHELORS DEGREES 14 13 362 35 0 0 4040503 4081108 35052630 36181699 450615 404572 230143 293725 39773891 40961104 9384551 10185274 0 0 14216793 15042981 197173 0 634352 13234751 14394909 37033268 39623164 2740623 1337940 38815523 40741397 20874487 21604452 17941036 19136945 BEACON COLLEGE IS AN ACCREDITED INSTITUTION OF HIGHER EDUCATION WITH AN ENTREPRENEURIAL ETHOS AND HOLISTIC FOCUS, UNIQUELY SERVING THE EDUCATION NEEDS OF NEURODIVERGENT STUDENTS. 0 0 33323132 10185274 36181699 BEACON WAS FOUNDED BY PARENTS IN ORDER TO MAKE A SUPERIOR HIGHER EDUCATION ACCESSIBLE TO STUDENTS WITH LEARNING DIFFERENCES. WHEN ESTABLISHED IN 1989, THE COLLEGE WAS GRANTED THE APPROVAL OF THE FLORIDA DEPARTMENT OF EDUCATION TO OFFER A FOCUSED LIBERAL ARTS-BASED CURRICULUM ALIGNED SPECIFICALLY TO THE LEARNING STYLES, SPECIALIZED INSTRUCTIONAL AND LIFESTYLE DEVELOPMENT NEEDS OF THESE STUDENTS. BEACON IS A FULLY ACCREDITATED FOUR-YEAR PRIVATE LIBERAL ARTS COLLEGE FOR STUDENTS SEEKING ASSOCIATE'S AND BACHELOR'S DEGREES. BEACON'S CAMPUS IN LEESBURG, FLORIDA CURRENTLY SERVES MORE THAN 500 DEGREE-SEEKING STUDENTS AND HUNDREDS MORE IN ITS TRANSITIONAL PROGRAMS. 33323132 1 1 0 1 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 1 0 1 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 1 0 0 0 1 55 0 1 362 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X DR FREDERIC S GORE CPA 3523651135 105 EAST MAIN STREET LEESBURG FL 34748 DR GEORGE J HAGERTY PRESIDENT 50.00 X 440517 0 99405 DR BRAD HOUGH CIO 50.00 X 174117 0 63254 RICHARD KILLION VP OF INSTITUTIONAL ADVANCEMENT 50.00 X 180372 0 38311 DALE HEROLD VP OF ADMISSIONS & ENROLLMENT 50.00 X 171244 0 45583 DR FRED GORE CFO 50.00 X 159520 0 47463 DR BRENT BETIT COO 50.00 X 163098 0 19165 DR OKSANA HAGERTY DEAN OF STUDENT SUCCESS 50.00 X 145862 0 32839 DANA MANZO VP OF STUDENT AFFAIRS 50.00 X 133189 0 32115 DR KEVIN REILLY VP OF ACADEMICS 50.00 X 104616 0 19284 DR DANIEL AVERBECK BOARD CHAIR 8.00 X X 0 0 0 SARAH FLANAGAN VICE CHAIR 6.00 X X 0 0 0 JOHN ROGERS SECRETARY/TREASURER 6.00 X X 0 0 0 DR JENNIFER BRAATEN TRUSTEE 4.00 X 0 0 0 PETER GIAMALVA TRUSTEE 4.00 X 0 0 0 JOHN R GILL TRUSTEE 4.00 X 0 0 0 DR MARK GRIFFIN TRUSTEE 4.00 X 0 0 0 DR SHELDON H HOROWITZ TRUSTEE 4.00 X 0 0 0 NANCY D JUDGE TRUSTEE 4.00 X 0 0 0 DR ALFRED MOFFETT TRUSTEE 4.00 X 0 0 0 JANET MORROW TRUSTEE 4.00 X 0 0 0 DEBBIE RESNICK TRUSTEE 4.00 X 0 0 0 HUGH W THOMPSON III TRUSTEE 4.00 X 0 0 0 CHARO UCEDA TRUSTEE 4.00 X 0 0 0 1672535 0 397419 11 0 1 0 SODEXO INC & ASSOCIATES 9801 WASHINGTON BLVD GAITHERSBURG MD 20878 DINING SERVICES 3753870 JENZABAR 111 HUNTINGTON AVENUE SUITE 530 BOSTON MA 02199 SOFTWARE & SUPPORT 1436152 COMMUNITY HEALTH CENTERS INC 110 SOUTH WOODLAND STREET WINTER GARDEN FL 34787 HEALTH SERVICES 116900 CURLEY & PYNN PUBLIC RELATIONS MANAGEMEN 1516 HILLCREST ST SUITE 210 ORLANDO FL 32803 PUBLIC RELATIONS 113387 VENABLE LLP PO BOX 62727 BALTIMORE MD 212642727 LEGAL SERVICES 111125 7 4081108 629140 4081108 TUITION & FEES 611310 26584015 26584015 ROOM & BOARD FEES 611310 7575517 7575517 NONTRADITIONAL PROGRAMS 611310 1390579 1390579 STUDENT SERVICE FEES 611310 631588 631588 36181699 168206 168206 4821412 4500 4589066 480 232346 4020 236366 236366 6430 1675 4755 4755 286002 219438 66564 66564 STUDENT HEALTH INSURANCE 900099 160525 160525 INSURANCE SETTLEMENT 900099 52271 52271 VENDING 900099 6179 6179 3431 3431 222406 40961104 36181699 0 698297 X 10120934 10120934 64340 64340 1545518 446462 918689 180367 42263 32387 9162 714 10920299 9049116 1646115 225068 319549 257981 61568 1386497 998172 388325 828855 647471 162614 18770 105799 105399 400 78432 78432 83113 83113 25111 25111 4751716 4434667 317049 734071 462065 270194 1812 1145919 489695 609097 47127 71827 4585 57156 10086 2429434 2087038 329545 12851 409283 240857 152176 16250 663603 447797 183463 32343 643790 593367 50423 1749659 1574034 175625 856585 795387 60580 618 CAMPUS ACTIVITIES 483809 482661 0 1148 DUES & MEMBERSHIPS 101497 37015 64482 0 MEALS & CATERING 30995 30995 0 0 BAD DEBT EXPENSE 4682 4682 0 0 25584 21424 475 3685 39623164 33323132 5665680 634352 2311761 2578219 1760368 3267710 1947283 1817471 105048 567190 45053 41212 400071 518747 41144457 10858668 30345885 30285789 1423980 915570 476074 749489 38815523 40741397 1613936 1868595 1991371 2607364 17190813 16628338 78367 227913 0 272242 20874487 21604452 X 11974251 12631702 5966785 6505243 17941036 19136945 38815523 40741397 X 1337940 -86618 -78578 23165 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 83113 83113 0 PART II-B, LINE 1: RICHARD KILLION AND PRESIDENT GEORGE HAGERTY EACH HAD $75 LOBBYIST REGISTRATION FEES WITH THE STATE OF FLORIDA. THE REMAINING OF THE $81,620 IS PAID TO GRAY ROBINSON. THIS FIRM INTERACTS WITH VARIOUS AGENCIES AND INDIVIDUALS IN THE FLORIDA STATE GOVERNMENT AND HAS BEEN INSTRUMENTAL IN BOTH TALKING TO STATE AGENCIES CONCERNING POSSIBLE GRANTS FOR THE COLLEGE AND KEEPING BEACON'S NAME AND STORY BEFORE ELECTED OFFICIALS AND STATE AGENCIES. BEACON IS ALSO A MEMBER OF SOME ORGANIZATIONS THAT DO LOBBYING ON BEHALF OF THEIR MEMBERS: NAICU - NATIONAL ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES $212; ICUF - INDEPENDENT COLLEGES AND UNIVERSITIES OF FLORIDA - $1056; AND FLORIDA CHAMBER OF COMMERCE - $225. X X 0 129991 10507 140498 118174 11817 129991 118284 -110 118174 120836 -2552 118284 98557 22279 120836 0.00000 1.00000 0.00000 0 0 4098599 4098599 27585132 6854431 20730701 2367739 1041963 1325776 3113150 1877915 1235235 3979837 1084359 2895478 30285789 LEASE LIABILITIES 272242 272242 X 30936309 -86618 272208 185590 30750719 25111 10185274 10210385 40961104 29661822 249043 249043 29412779 25111 10185274 10210385 39623164 PART III, LINE 1A: COLLECTION ITEMS CONSIST OF ART OBJECTS THAT ARE HELD FOR EDUCATIONAL AND CURATORIAL PURPOSES. EACH OF THE ITEMS IS CATALOGUED, PRESERVED, CARED FOR, AND KEPT UNENCUMBERED. ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. COLLECTION ITEMS ACQUIRED EITHER THROUGH PURCHASE OR DONATION ARE NOT CAPITALIZED. PART V, LINE 4: THE COLLEGE INTENDS TO USE ITS ENDOWMENTS TO PROVIDE FUNDS FOR FUTURE SCHOLARSHIPS. PART X, LINE 2: THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC); THEREFORE, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE COLLEGE HAS ALSO BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) AND QUALIFIES FOR DEDUCTIBLE CONTRIBUTIONS AS PROVIDED IN SECTION 170(B)(1)(A). THE COLLEGE IS SUBJECT TO FEDERAL INCOME TAX ONLY ON NET UNRELATED BUSINESS INCOME UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE COLLEGE HAS EVALUATED ITS TAX POSITIONS AND DETERMINED IT HAS NO UNCERTAIN TAX POSITIONS AND HAS NOT RECORDED ANY OBLIGATIONS FOR UNRELATED BUSINESS INCOME TAX. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 219,438. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 51,095. GAMING EXPENSES 1,675. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS NETTED AGAINST TUITION REVENUE 10,185,274. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 219,438. PROVISION FOR BAD DEBT 27,930. GAMING EXPENSES 1,675. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS NETTED AGAINST TUITION REVENUE 10,185,274. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 BEACON COLLEGE'S POLICY IS STATED IN ALL ADVERTISING/NEWS RELEASES AT THE START OF THE SCHOOL YEAR. SCHEDULE E, PART I, LINE 6 BEACON COLLEGE RECEIVES FINANCIAL AID FUNDS FROM THE DEPARTMENT OF EDUCATION VIA THE FOLLOWING PROGRAMS: FEDERAL PELL GRANTS, FEDERAL STUDENT LOANS, FEDERAL SUPPLEMENTAL EDUCATIONAL GRANTS (FSEOG), AND FEDERAL WORK STUDY PROGRAM. IT HAS ALSO BEEN THE RECIPIENT OF FLORIDA TUITION ASSISTANCE AND THE RECIPIENT OF FLORIDA DEPARTMENT OF TRANSPORTATION GRANTS TO PURCHASE VEHICLES. 1 EUROPE (INCLUDING ICELAND & GREENLAND) 0 4 PROGRAM SERVICES BEACON COLLEGE OFFERS A FALL STUDY ABROAD PROGRAM IN PRATO, ITALY. 161670 EAST ASIA AND THE PACIFIC 0 4 PROGRAM SERVICES BEACON COLLEGE OFFERS A SPRING STUDY ABROAD PROGRAM IN TOKYO, JAPAN. 188999 MIDDLE EAST AND NORTH AFRICA 0 2 GRANTMAKING 33640 SOUTH AMERICA 0 2 GRANTMAKING 30700 0 12 0 0 0 12 415009 0 415009 GRANTMAKING MIDDLE EAST AND NORTH AFRICA 2 33640 RATE REDUCTION GRANTMAKING SOUTH AMERICA 2 30700 RATE REDUCTION 0 0 0 0 0 0 PART I, LINE 2: INTERNATIONAL STUDENTS ARE ELIGIBLE TO RECEIVE AN EDUCATIONAL COST REDUCTION BY DEMONSTRATING FINANCIAL NEED. THESE GRANTS VARY AND ARE DETERMINED BY THE STUDENT'S FINANCIAL CIRCUMSTANCES. ASSISTANCE IS PROVIDED ONLY TO REDUCE THE STUDENTS' ESTABLISHED CHARGES FOR TUITION, FEES, ROOM AND BOARD. FUNDS ARE NOT KEPT OR DISBURSED TO STUDENTS NOR DO AWARDS EXCEED ESTABLISHED CHARGES. PART I, LINE 3: AMOUNTS ARE REPORTED USING THE ACCRUAL METHOD. X X X X X X 1 CURLEY & PYNN PUBLIC RELATIONS 1516 HILLCREST ST SUITE 210 ORLANDO FL 32803 CAPITAL CAMPAIGN - PUBLIC RELATIONS MANAGEMENT 0 0 112358 0 SWAN TRAIL BUSINESS SOLUTIONS 2279 NATOMA BLVD MT DORA FL 32757 CAPITAL CAMPAIGN - DONOR DATABASE MANAGEMENT 0 0 36600 0 BRANDCONNEX LLC 99 WOOD AVE S SUITE 304 ISELIN NJ 08830 DIGITAL MARKETING 0 0 21200 0 170158 FL 1 SCHOLARSHIPS & GRANTS 498 10120934 N/A N/A PART I, LINE 2: PRIMARILY STUDENTS ARE AWARDED BEACON SCHOLARSHIP AND GRANT AID (DISCOUNTED EDUCATION COSTS) BASED ON DEMONSTRATING FINANCIAL NEED AS DEFINED BY FEDERAL STUDENT AID GUIDELINES. THE DISCOUNT APPLIED IS AWARDED ON A FORMULA ASSIGNING THE LARGEST BEACON DISCOUNT TO THE NEEDIEST STUDENTS. THERE ARE A FEW SCHOLARSHIPS (DISCOUNTS) AWARDED BASED ON RECOMMENDATIONS FROM EDUCATIONAL PROFESSIONALS (PROFESSIONAL EDUCATOR SCHOLARSHIP) AND/OR A GRANT (RAISE ME) OFFERED TO STUDENTS WHO ACHIEVED SPECIFIC ACCOMPLISHMENTS IN HIGH SCHOOL. IN THESE CASES, EVERYONE AUTOMATICALLY RECEIVES THE SAME LEVEL OF REDUCTION BASED ON PREDETERMINED CRITERIA. IN ORDER FOR STUDENTS TO CONTINUE TO RECEIVE NEED-BASED BEACON COLLEGE GRANTS AND SCHOLARSHIPS, STUDENTS MUST RE-APPLY EACH YEAR USING THE FEDERAL APPLICATION FOR STUDENT AID. STUDENTS MUST ALSO REMAIN IN GOOD ACADEMIC STANDING AS DESCRIBED IN THE BEACON ACADEMIC CATALOG. SHOULD THE STUDENT/FAMILY FINANCIAL CIRCUMSTANCE CHANGE, THE STUDENT MAY RECEIVE A REDUCTION OR INCREASE IN A BEACON GRANT. IN THE CASE OF NON-NEED BASED BEACON COLLEGE GRANTS, STUDENTS ARE MONITORED ANNUALLY TO ASSURE THEY ARE MAINTAINING GOOD ACADEMIC STANDING. X 1 1 X X X X 0 1 0 0 0 0 0 1 0 DR GEORGE J HAGERTY PRESIDENT 355997 0 43530 0 40990 0 44860 0 54545 0 539922 0 0 0 DR BRAD HOUGH CIO 174117 0 0 0 0 0 5671 0 57583 0 237371 0 0 0 RICHARD KILLION VP OF INSTITUTIONAL ADVANCEMENT 180372 0 0 0 0 0 8922 0 29389 0 218683 0 0 0 DALE HEROLD VP OF ADMISSIONS & ENROLLMENT 171244 0 0 0 0 0 9701 0 35882 0 216827 0 0 0 DR FRED GORE CFO 159520 0 0 0 0 0 5199 0 42264 0 206983 0 0 0 DR BRENT BETIT COO 163098 0 0 0 0 0 5932 0 13233 0 182263 0 0 0 DR OKSANA HAGERTY DEAN OF STUDENT SUCCESS 144724 0 1138 0 0 0 6966 0 25873 0 178701 0 0 0 DANA MANZO VP OF STUDENT AFFAIRS 133189 0 0 0 0 0 6903 0 25212 0 165304 0 0 0 PART I, LINE 1A THE PRESIDENT OF THE COLLEGE RECEIVED A HOUSING ALLOWANCE AND AUTO ALLOWANCE AS A PART OF HIS COMPENSATION CONTRACT. IT IS INCLUDED IN HIS TAXABLE INCOME. PART I, LINE 4B DR. GEORGE J. HAGERTY HAD A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN UNDER SECTION 457(F) TOTALING $27,243 DURING CALENDAR YEAR 2024. THIS DEFERRED AMOUNT IS REPORTED IN SCHEDULE J, PART II, COLUMN (C). PART I, LINE 7 THE PRESIDENT'S ANNUAL BONUS IS BASED UPON AN ASSESSMENT DONE BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES AS PART OF HIS ANNUAL ASSESSMENT. IT IS NOT SET IN AMOUNT, BUT IS DETERMINED AT THE TIME OF ASSESSMENT BY THE COMMITTEE TAKING INTO CONSIDERATION THE GOALS PROVIDED AND RESULTS ACHIEVED BY THE PRESIDENT AND THE COLLEGE. WHILE THE PROFITABILITY AND FINANCIAL WELL-BEING OF THE COLLEGE IS AN IMPORTANT FACTOR IN THE COMMITTEE'S ASSESSMENT, IT IS ONE OF SEVERAL FACTORS INVOLVED. THE COMPENSATION COMMITTEE OF THE BOARD HAS INDEPENDENTLY REVIEWED THE COMPENSATION LEVEL AND ADDITIONAL INCENTIVE COMPENSATION FOR THE DEAN OF STUDENT SUCCESS IN ACCORDANCE WITH COMPENSATION PROVIDED FOR THE DEAN'S PEERS AND DIRECTED THE PRESIDENT TO COMPENSATE THE DEAN ACCORDING TO THE BOARD'S DETERMINATIONS. THIS BONUS IS NOT TIED TO SPECIFIC FINANCIAL COMPONENTS. A HIGHER EDUCATIONAL FACILITIES FINANCE AUTHORITY 900058227 000000000 2019-06-27 20070000 REFUND PRIOR ISSUE; RESIDENCE & DINING HALL 0 0 0 A 3105000 20070000 243107 401400 348817 7217267 11859409 2022 1 0 1 1 A 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: HIGHER EDUCATIONAL FACILITIES FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 05/31/2025 NATHAN JUDGE FAMILY OF TRUSTEE 42264 COMP/BENEF 0 X 5 521746 FMV X BASKETBALL COURT & GOALS 1 107394 FMV 0 1 0 PART I, COLUMN (B): THE COUNT IN COLUMN B IS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL HAVE FIVE MEMBERS, ALL OF WHOM SHALL BE VOTING MEMBERS OF THE BOARD. THE PRESIDENT SHALL ALSO SERVE ON THE EXECUTIVE COMMITTEE BUT IN AN EX OFFICIO, NON-VOTING CAPACITY. THE EXECUTIVE COMMITTEE SHALL BE COMPOSED OF THE OFFICERS OF THE BOARD WITH OTHER MEMBERS SELECTED FROM THE CHAIRS OF STANDING COMMITTEES AND/OR AT-LARGE MEMBERS NOMINATED BY THE BOARD CHAIR AND CONFIRMED AT THE BOARD'S ANNUAL MEETING BY A MAJORITY VOTE OF THOSE TRUSTEES IN ATTENDANCE. IN CONDUCTING ITS DUTIES, THE EXECUTIVE COMMITTEE, SHALL NOT, EVEN IF THE NUMBER IS SUFFICIENT, BE CONSIDERED A QUORUM FOR A SPECIAL MEETING OF THE FULL BOARD. THE EXECUTIVE COMMITTEE IS EMPOWERED TO ACT FOR THE BOARD BETWEEN REGULAR BOARD OF TRUSTEES' MEETINGS ON ALL MATTERS, EXCEPT FOR THOSE MATTERS EXCLUSIVELY RESERVED TO THE BOARD: (I) PRESIDENTIAL SELECTION AND TERMINATION, (II) BOARD MEMBER AND BOARD OFFICER ELECTION, (III) CHANGES IN THE MISSION AND/OR PURPOSE OF THE INSTITUTION, (IV) AMENDMENTS TO THE ARTICLES OF INCORPORATION AND/OR BYLAWS, (V) INCURRENCE OF CORPORATE INDEBTEDNESS, (VI) SALE OR OTHER DISPOSITION OF REAL ESTATE AND/OR OTHER TANGIBLE PROPERTY, (VII) ADOPTION OF THE ANNUAL BUDGET, AND (VIII) CONFERRAL OF DEGREES, (IX) SETTING TUITION, (X) SETTING INCREASES IN SALARIES. FORM 990, PART VI, SECTION B, LINE 11B BOARD OF TRUSTEES MEMBERS ARE PROVIDED A DRAFT COPY OF THE FORM 990 FOR THEIR REVIEW, AND THE FINAL FORM 990 IS THEN FILED UPON SIGNATURE OF AN AUTHORIZED OFFICER. FORM 990, PART VI, SECTION B, LINE 12C A BOARD MEMBER SHALL BE CONSIDERED TO HAVE A CONFLICT OF INTEREST IF HE OR SHE, OR PERSONS OR ENTITIES WITH WHICH HE OR SHE IS AFFILIATED, HAS A DIRECT OR INDIRECT INTEREST THAT MAY IMPAIR OR MAY REASONABLY APPEAR TO IMPAIR HIS OR HER INDEPENDENT, UNBIASED JUDGMENT IN THE DISCHARGE OF HIS OR HER RESPONSIBILITIES TO THE INSTITUTION. BOARD MEMBERS SHALL DISCLOSE TO THE BOARD ANY ACTUAL, APPARENT, OR POSSIBLE CONFLICT OF INTEREST AT THE EARLIEST PRACTICAL TIME. A BOARD MEMBER WHO HAS MADE SUCH A DISCLOSURE SHALL ABSTAIN FROM VOTING ON SUCH MATTERS, OR PARTICIPATING IN OR OTHERWISE INFLUENCING THE DELIBERATIONS OF THE BOARD IN RELATION TO THE MATTER FOR WHICH AN ACTUAL, APPARENT, OR POSSIBLE CONFLICT IS ACKNOWLEDGED. THE BOARD MEETING MINUTES SHALL REFLECT THAT A DISCLOSURE WAS MADE AND NOTE THE BOARD MEMBERS' ABSTENTION FROM VOTING AND ABSENCE DURING BOARD DELIBERATIONS. A BOARD MEMBER WHO IS RECUSED MAY BE COUNTED FOR PURPOSES OF DETERMINING THE PRESENCE OF A QUORUM AT THE MEETING, BUT SHALL NOT BE COUNTED FOR PURPOSES OF DETERMINING THE PRESENCE OF A QUORUM FOR REQUISITE BOARD ACTION. IN ACCORDANCE WITH THE CONFLICT OF INTEREST POLICY, EVERY BOARD MEMBER SHALL COMPLETE AND SIGN A DISCLOSURE FORM ON AN ANNUAL BASIS, AND UPDATE THE FORM AS PROMPTLY AS POSSIBLE FOLLOWING KNOWLEDGE OF CONDITIONS THAT MAY CREATE A POSSIBLE CONFLICT OF INTEREST. BOARD MEMBERS SERVE AS VOLUNTEERS AND ARE NOT COMPENSATED FOR THEIR SERVICES. THEY MAY BE REIMBURSED FOR TRANSPORTATION AND OTHER REASONABLE DIRECT EXPENSES WHILE ENGAGED IN THE DISCHARGE OF THEIR OFFICIAL BOARD DUTIES. FORM 990, PART VI, SECTION B, LINE 15 BEACON CONDUCTS AN ANNUAL ADMINISTRATIVE SALARY AND BENEFIT SURVEY FOR THE PRESIDENT. AT THE SAME TIME, AN ANNUAL SALARY SURVEY OF SENIOR EXECUTIVES OR OFFICERS IS ALSO CONDUCTED. THE RESEARCH UTILIZED FOR THE ADMINISTRATIVE SURVEY IS OBTAINED FROM THE COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION FOR HUMAN RESOURCES (CUPA-HR). CUPA-HR IS CONSIDERED THE DEFINITIVE SOURCE FOR ADMINISTRATIVE SALARIES FOR HIGHER EDUCATION SINCE 1967, AND THE RESEARCH FROM ITS ADMINISTRATOR SURVEY IS USED BY THE "CHRONICLE OF HIGHER EDUCATION" TO ANNUALLY REPORT ON THE COMPENSATION FOR HIGHER EDUCATION ADMINISTRATIVE STAFF. IN ADDITION, BEACON UTILIZES THE DATA OBTAINED FROM THE MOST RECENT IRS FORM 990 FILINGS FOR EACH COLLEGE THAT BEACON UTILIZES FOR COMPARATIVE PURPOSES. INCLUDED IN THIS COMPARISON ARE: PEER COLLEGES, FLORIDA COLLEGES, PRIVATE INDEPENDENT COLLEGES, BACCALAUREATE COLLEGES, AND SOUTHERN REGION PRIVATE INDEPENDENT COLLEGES, BY ENROLLMENT OR TOTAL EXPENSE. THE DIRECTOR OF HUMAN RESOURCES PERFORMS THE ANALYSIS OF DATA AND WRITES THE REPORTS, WHICH INCLUDES DATA DOCUMENTATION, FOR THE BOARD CHAIR AND PRESIDENT TO REVIEW. THE PRESIDENT MAKES A RECOMMENDATION TO THE BOARD CHAIR FOR SUGGESTED COMPENSATION FOR SENIOR EXECUTIVE LEVEL COMPENSATION, BASED ON AN ANNUAL REVIEW OF THEIR ACCOMPLISHMENTS IN THEIR RESPECTIVE POSITIONS. THE BOARD CHAIR REVIEWS BOTH THE PRESIDENT'S ANNUAL COMPENSATION SURVEY AND SENIOR EXECUTIVE LEVEL COMPENSATION RECOMMENDATIONS FROM THE PRESIDENT. THESE ARE THEN PRESENTED TO THE COMPENSATION COMMITTEE APPOINTED BY THE EXECUTIVE COMMITTEE FOR REVIEW AND DISCUSSION, TO INCLUDE THE ANNUAL REVIEW FOR THE PRESIDENT. THE COMPENSATION COMMITTEE MEETS IN CLOSED SESSION AND DETERMINES THE COMPENSATION LEVELS FOR THE PRESIDENT AND SENIOR EXECUTIVES. THE COMPENSATION COMMITTEE ADVISES THE EXECUTIVE COMMITTEE WHO PRESENTS THE RECOMMENDATIONS TO THE FULL BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST FOR A REASONABLE COPYING CHARGE. FORM 990, PART IX, LINE 11G DINING SERVICES: PROGRAM SERVICE EXPENSES 2,585,427. MANAGEMENT AND GENERAL EXPENSES 2,242. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,587,669. FACILITIES MANAGEMENT: PROGRAM SERVICE EXPENSES 1,414,880. MANAGEMENT AND GENERAL EXPENSES 119,714. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,534,594. CONSULTING SERVICES: PROGRAM SERVICE EXPENSES 234,693. MANAGEMENT AND GENERAL EXPENSES 170,600. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 405,293. HEALTH SERVICES MANAGEMENT: PROGRAM SERVICE EXPENSES 100,200. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 100,200. FINANCIAL AID SERVICES: PROGRAM SERVICE EXPENSES 99,467. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 99,467. IT MANAGEMENT: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 16,538. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 16,538. CONTRACT LABOR: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 7,955. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 7,955. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 51,095. PROVISION FOR BAD DEBT -27,930. CHARITABLE REMAINDER TRUST (1) TRUST FL BEACON COLLEGE INC 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0