2026-04-14T17:10:28+00:00 2025-05-31 350921680 CROWE LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2024-06-01 362722198 Benedictine University BENE 6308296000 5700 College Rd Lisle IL 60532 Brian Qualizza VP Finance/CFO 6308296000 2026-04-14 true JENNIFER BURKE P01342224 3128997000 2026-04-14 2024 2025-03-06 01:10:19Z Brian Qualizza 5700 College Rd Lisle IL 60532 105564846 false 0928 X www.ben.edu X 1887 IL Benedictine University is an inclusive academic community dedicated to teaching and learning, scholarship and service, truth and justice, as inspired by the Catholic intellectual tradition, the social teaching of the Church, and the principles of wisdom in the Rule of St. Benedict. 26 25 977 37 96212 0 4158558 5130518 82473675 84232559 1911952 1965809 0 88544185 91328886 30321324 34994182 0 32494929 28211607 0 1086625 27770032 26912751 90586285 90118540 -2042100 1210346 161358420 156874906 69869792 65915966 91488628 90958940 Benedictine University is an inclusive academic community dedicated to teaching and learning, scholarship and service, truth and justice, as inspired by the Catholic intellectual tradition, the social teaching of the Church, and the principles of wisdom in the Rule of St. Benedict. false false 85102530 34994182 84143666 Benedictine University believes that a broad-based, liberal arts education provides students with a concrete foundation for a lifetime of change and is the best preparation for life-long learning. A Benedictine education prepares students to communicate effectively, to reason and make informed judgments, to identify and solve problems, to develop a sense of intellectual curiosity, to pursue and communicate the truth, and to confront and resolve ethical issues. The University's student-to-faculty ratio of 11:1 promotes a learning environment in which students can form and nurture relationships with instructors and classmates. The University offers 43 major programs, 13 masters + doctoral programs, and 13 certificate programs to students, with enrollment of 2,917 undergraduate and graduate students during the 2024-2025 academic year. These programs are supplemented through the University's 40 student organizations, 6 club sport programs, and 19 NCAA Division III Intercollegiate Athletic Programs. 85102530 true true false false false false false true false true true true false true true true true false true true true false false false false false false false true true true false false false false false false false false true false false false false false false true true false false false true 3367 0 true 977 true true true false false false false false false false false false false false false false X 26 25 false false false false false false false true true false false false true true true true true true false false false false X Brian Qualizza 6308296000 5700 College Road Lisle IL 60532 BECKY MEGGESIN Trustee; Vice Chair (AS OF 10/2024) 1.0 0 X X 0 0 0 CHRISTOPHER E BIRCK Vice Chair (through 10/2024); Chair (AS OF 10/2024) 1.0 0 X X 0 0 0 JOSEPH FOY PRESIDENT 40.0 0 X X 383665 0 17394 KATHERINE A DONOFRIO Chair (THROUGH 10/2024) 1.0 0 X X 0 0 0 MICHAEL S SIUREK Treasurer 1.0 0 X X 0 0 0 RAYMOND KONOPKA JR Secretary 1.0 0 X X 0 0 0 AHEED SIDDIQI TRUSTEE (as of October 2024) 1.0 0 X 0 0 0 ANTHONY MCCAIN TRUSTEE 1.0 0 X 0 0 0 Bruce R Bronge TRUSTEE 1.0 0 X 0 0 0 CLAUDIA J COLALILLO TRUSTEE 1.0 0 X 0 0 0 DANIEL F RIGBY TRUSTEE 1.0 0 X 0 0 0 DEBORAH A PAGEL TRUSTEE 1.0 0 X 0 0 0 DONNA SUE HROZENCIK MD TRUSTEE 1.0 0 X 0 0 0 GREGORY ZIOLS TRUSTEE 1.0 0 X 0 0 0 JAMES L MELSA TRUSTEE 1.0 0 X 0 0 0 LEONARD S PIAZZA MD TRUSTEE 1.0 0 X 0 0 0 Marcie Mills TRUSTEE (as of January 2025) 1.0 0 X 0 0 0 MAUREEN BEAL TRUSTEE 1.0 0 X 0 0 0 NELSON KOOPMAN TRUSTEE 1.0 0 X 0 0 0 NICHOLAS S GIULIANO Trustee 1.0 0 X 0 0 0 NORMAN ALLGOOD TRUSTEE (as of October 2024) 1.0 0 X 0 0 0 PAUL LEHMAN TRUSTEE 1.0 0 X 0 0 0 ROBERTO RAMIREZ TRUSTEE 1.0 0 X 0 0 0 ROSEMARY MACKO WISNOSKY TRUSTEE 1.0 0 X 0 0 0 SARAH J PEACEY PhD TRUSTEE 1.0 0 X 0 0 0 SHARON STOLA TRUSTEE (as of October 2024) 1.0 0 X 0 0 0 TASNEEM A OSMANI TRUSTEE 1.0 0 X 0 0 0 Brian Qualizza Chief Financial Officer 40.0 0 X 167154 0 27779 CHARLES GREGORY Advisor to the President 40.0 0 X 204000 0 660 Christopher Duffrin PROFESSOR 40.0 0 X 213778 0 18017 Olga Lambert Dean 40.0 0 X 195109 0 22871 Ramkrishnan Tenkasi Professor 40.0 0 X 180859 0 35427 William Law Professor 40.0 0 X 155642 0 44124 David Sonnenberger INTERIM PROVOST (UNTIL 5/1/2020) / INTERIM CHIEF ACADEMIC OFFICER 40.0 0 X 110459 0 12252 IRENE GENDEL INTERIM CFO UNTIL 5/31/2021 40.0 0 X 118383 0 22276 1729049 0 200800 36 true true false RISEPOINT LLC 700 NORTH PEARL ST STE 600 DALLAS TX 75201 EDUCATIONAL TECHNOLOGY 1507549 WILEY EDU LLC 851 TRAFALGAR COURT STE 420W MAITLAND FL 32751 MARKETING & RECRUITING FOR ONLINE PROGRAMS 987117 MIDWEST MECHANICAL GROUP LLC 801 PARKVIEW BLVD LOMBARD IL 60148 PROPERTY MAINTENANCE 846158 CLEAN SWEEP BUILDING SERVICES LLC PO BOX 31101-2374 PASADENA CA 91110 PROPERTY MAINTENANCE 660039 ACADEMIC PARTNERSHIPS LLC 700 NORTH PEARL ST STE 600 DALLAS TX 75201 EDUCATIONAL TECHNOLOGY 357312 11 3271617 1858901 2177 5130518 TUITION & FEES 611710 74327669 74327669 AUXILIARY ENTERPRISES 611710 5614104 5614104 OTHER ED. ACTIVITIES 611710 4290786 4201893 88893 0 0 0 0 84232559 588082 7319 580763 229138 229138 0 0 15384549 14235960 1148589 0 1148589 1148589 0 0 0 0 0 91328886 84143666 96212 1958490 34994182 34994182 591207 591207 50060 50060 21823741 19654683 1569924 599134 3900037 3513166 279493 107378 1846562 1622574 174685 49303 68233 68233 115354 115354 160098 160098 86278 86278 0 0 526545 514902 6925 4718 973118 847746 81684 43688 1790625 1432113 296809 61703 3845195 3736240 80596 28359 1208343 1175727 8432 24184 20712 16284 1820 2608 1945511 1942035 3330 146 4939371 4834728 94204 10439 751500 677199 74301 OUTSIDE SERVICES 4834700 4611344 120388 102968 FOOD SERVICES 2128275 2093877 14418 19980 BAD DEBTS 700000 700000 DUES & MEMBERSHIPS 208054 129298 78756 2610839 2470094 108728 32017 90118540 85102530 3929385 1086625 12859103 12778496 3486873 802522 4603036 2130112 4225016 5407575 0 0 0 0 307879 220697 618291 566404 171831966 81468768 91983376 90363198 17302648 18777110 14947295 15317583 0 11024903 10511209 161358420 156874906 4592873 3996476 3401772 3237628 51699210 49012603 0 0 9094031 8610731 1081906 1058528 69869792 65915966 X 62742864 60628302 28745764 30330638 91488628 90958940 161358420 156874906 X 1210346 959966 -2700000 X false true true true true X 3143016 12002746 14340011 4158558 5130518 38774849 0 0 3143016 12002746 14340011 4158558 5130518 38774849 0 38774849 819170 1110654 950921 1351591 817220 5049556 0 0 0 0 0 0 0 0 0 0 0 43824405 426959919 0.88478 0.85349 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 2418422 X X X false 34661849 254510 2348486 3508157 33756688 40152347 344491 3161536 8996525 34661849 41680677 430507 -210452 1748385 40152347 40897545 464381 1577869 1259118 41680677 37110731 216261 7687844 4117291 40897545 0.2058 0.4786 0.3156 false false 940651 940651 147800336 64063429 83736907 16112652 13066822 3045830 6978327 4338517 2639810 90363198 Closely-held equity interests Financial derivatives ALTERNATIVE INVESTMENTS 15161384 F OTHER INVESTMENTS 156199 F 15317583 Bond Proceeds held in trust 4357191 right-of-use assets 6154018 10511209 Federal Income Taxes DEPOSITS HELD IN CUSTODY FOR OTHERS 1056551 ADVANCES FROM US GOVT FOR STUDENTS 1977 1058528 X 57134572 959966 -35154280 -34194314 91328886 0 0 91328886 54964260 0 0 54964260 35154280 35154280 90118540 Schedule D, Part III, Line 4 Collections of art - description of collections THE JURICA-SUCHY NATURE MUSEUM IS A SMALL, NATURAL HISTORY MUSEUM WITH ABOUT 10,000 SPECIMENS RANGING IN SIZE FROM A TINY GNAT TO A SKELETON OF A BALEEN WHALE. THE COLLECTION REPRESENTS BOTH VERTEBRATE AND INVERTEBRATE ANIMALS AND INCLUDES SEVERAL RARE SPECIMENS OF EXTINCT AND ENDANGERED ANIMALS. THERE IS ALSO A LARGE COLLECTION OF FOSSILS AND ROCKS AND MINERALS IN THE STORAGE AREA THAT IS IN THE PROCESS OF BEING INVENTORIED. MANY LOCAL TEACHERS BRING THEIR CLASSES TO THE JURICA-SUCHY NATURE MUSEUM TO FOCUS ON PARTICULAR THEMES TO ENHANCE THEIR CURRICULUM. THE STUDENTS TAKE A BRIEF TOUR; VISIT THE LEARNING CIRCLE UNDER THE WHALE TO TOUCH DIFFERENT SPECIMENS AND THEN SET OFF TO WORK ON AN ACTIVITY SHEET SELECTED BY THE TEACHER. BECAUSE THE MUSEUM IS AN INTIMATE SPACE, FILLED WITH SPECIMENS, CHILDREN ARE ABLE TO MAKE OBSERVATIONS, EXPLORE DIFFERENCES AMONG THE SPECIMENS, AND THINK ABOUT THEM. THE MUSEUM HOSTS MANY HOME SCHOOL FAMILIES AND ALSO IS USED BY OUR BENEDICTINE STUDENTS FOR CLASS ASSIGNMENTS IN BIOLOGY, ART AND EDUCATION. THERE ARE OVER 5,000 VISITORS TO THE MUSEUM EACH YEAR. IN ADDITION, THE JURICA-SUCHY NATURE MUSEUM OFFERS A DISCOVERY BOX LOAN PROGRAM OF MORE THAN 40 BOXES FOR TEACHERS, HOME SCHOOL FAMILIES AND OTHER GROUPS. THE BOXES CONTAIN MUSEUM SPECIMENS, BACKGROUND INFORMATION, VISUAL AIDS, CURRICULAR GUIDES, AND SUGGESTED CLASSROOM ACTIVITIES. THIS PROGRAM REACHES AN ADDITIONAL 5,000 CHILDREN EACH YEAR. THESE PROGRAMS ARE OFFERED AT NO COST TO OUR PUBLIC AS A MEANS OF FURTHERING EDUCATION IN THE NATURAL SCIENCES IN OUR COMMUNITY. BENEDICTINE UNIVERSITY POSSESSES AN ART COLLECTION NUMBERING NEARLY 4,000 PIECES AND ARTIFACTS. THE COLLECTION REPRESENTS BOTH FINE AND APPLIED ARTS, AND IS QUITE DIVERSE IN ITS SCOPE OF SUBJECT AND MEDIA; WHILE THE MAJORITY OF THE COLLECTION HAS A RELIGIOUS THEME. THE COLLECTION CONSISTS MAINLY OF CERAMICS, DRAWINGS, PAINTINGS, ORIGINAL FINE ART PRINTS, PHOTOGRAPHY, TEXTILE, SCULPTURE, MIXED MEDIA, FOLK ART AND KITSCH. THE UNIVERSITY'S ART COLLECTION IS VISIBLE THROUGHOUT THE ENTIRE CAMPUS, AND IT'S BRANCH CAMPUS. IN ADDITION TO THE NUMEROUS AREA TEACHERS, PARENTS, SPECIAL ART INTEREST GROUPS AND VISITORS THAT COME TO THE UNIVERSITY, AND NEIGHBORING ST. PROCOPIUS ABBEY, FOR THE EXPRESS PURPOSE OF A GUIDED TOUR OF THE CAMPUS, VIRTUALLY EVERY CAMPUS VISITOR IS ABLE TO SEE A PART OF THE ART COLLECTION. THIS MUST BE NOTED AS MOST COLLEGE COLLECTIONS HAVE A DESIGNATED AREA FOR SHOWING ARTWORK OR EXHIBITIONS, USUALLY WITHIN A CONTAINED EXHIBITION SPACE. BENEDICTINE UNIVERSITY DOES HAVE ONE DESIGNATED ENCLOSED SET OF DISPLAY CASES, IN THE LOWER AREA OF KRASA HALL, FOR THE PURPOSE OF SHOWING SMALLER EXHIBITIONS, BUT THE 2ND FLOOR OF KINDLON HALL, OUTSIDE THE LIBRARY, HAS RECENTLY BEEN OPENED UP TO SHOW LARGER EXHIBITIONS. CLASSES ON CAMPUS ARE ENCOURAGED TO UTILIZE THE ART COLLECTION TO ENHANCE THEIR CURRICULUM. THE UNIVERSITY IS ALSO HOST TO VARIOUS SUMMER SPORTS AND MUSIC CAMPS WHEREBY AN ADDITIONAL VIEWING AUDIENCE FROM THE COMMUNITY IS ABLE TO SEE AND APPRECIATE THE ART COLLECTION. THE ENORMITY OF THE COLLECTION AND BEING SPREAD THROUGHOUT THE CAMPUS AS IT IS, HAS TRANSFORMED THE CAMPUS INTO A GIGANTIC ART GALLERY, WHEREBY ART IS APPRECIATED BY THE MASSES AND OF AESTHETIC MERIT TO ALL DISCIPLINES. Schedule D, Part V, Line 4 Intended uses of endowment funds THE UNIVERSITY HAS A POLICY OF APPROPRIATING FOR DISTRIBUTION EACH YEAR A PORTION OF ITS PERMANENTLY RESTRICTED ENDOWMENT FUNDS FAIR VALUE AS OF THE LAST DAY OF THE YEAR PRECEDING THE FISCAL YEAR IN WHICH THE DISTRIBUTION IS PLANNED. DISTRIBUTIONS FROM OTHER ENDOWMENTS ARE MADE ON THE BASIS OF PRUDENT APPLICATION OF THE FUNDS IN FURTHERANCE OF THE UNIVERSITY'S STRATEGIC PLAN IN ACCORDANCE WITH DONOR-IMPOSED RESTRICTIONS, WHEN AND IF APPLICABLE, ON THE USE OF THE FUNDS. IN ESTABLISHING THIS POLICY, THE UNIVERSITY CONSIDERED THE LONG-TERM EXPECTED RETURN ON ITS INVESTMENT ASSETS, THE NATURE AND DURATION OF THE INDIVIDUAL ENDOWMENT FUNDS, MANY OF WHICH MUST BE MAINTAINED IN PERPETUITY BECAUSE OF DONOR-IMPOSED RESTRICTIONS, AND THE POSSIBLE EFFECT OF INFLATION. THE UNIVERSITY EXPECTS THE CURRENT SPENDING POLICY TO ALLOW ITS ENDOWMENT FUNDS TO GROW AT A NOMINAL AVERAGE ANNUAL RATE, THAT WILL PROVIDE A DEPENDABLE AND GROWING SOURCE OF FUNDING SUPPORT AND FINANCIAL DISTRIBUTIONS FOR THE UNIVERSITY, WHILE PRESERVING THE PRINCIPAL OF THE FUNDS AND PROTECTING THEIR VALUE FROM THE IMPACT OF INFLATION. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The University is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. However, income from certain activities not directly related to the University's tax-exempt purpose is subject to taxation as unrelated business income. The University recognizes the financial statement impact of a tax position when it is more likely than not that the position will be sustained upon examination. Management has determined there are no material uncertain positions that require recognition in the financial statements. There is no interest or penalties recognized in the statements of activities or statements of financial position. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 SCHOLARSHIP AND GRANT EXPENSE - -34994182 INVESTMENT FEES - -160098 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements SCHOLARSHIPS AND GRANTS EXPENSE - 34994182 INVESTMENT FEES - 160098 true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY BENEDICTINE UNIVERSITY PUBLISHES ITS RACIALLY NON-DISCRIMINATORY POLICY IN ITS STUDENT AND EMPLOYEE RECRUITMENT MATERIALS, APPLICATIONS, BUSINESS TRANSACTIONS, LEGAL DOCUMENTS, CATALOG, OPERATIONAL MATERIALS, AND IN INTERNAL AND EXTERNAL COMMUNICATION. This policy is also linked on the University's home page at https://ben.edu/. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT During the tax year ending 5/31/2025, the University received funding from the following governmental agencies: U.S. Department of Education, U.S. Department of Agriculture, Illinois Board of Higher Education, and Illinois Student Assistance Commission. East Asia and the Pacific 0 1 Program Services EDUCATIONAL SERVICES 793762 Central America and the Caribbean 0 0 Investments 11799429 Europe (Including Iceland and Greenland) 0 0 Investments 1339599 North America (Canada & Mexico only) 0 0 Investments 1001831 0 1 0 0 0 1 14934621 0 14934621 true false true true true false Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EAST ASIA AND THE PACIFIC-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual; NORTH AMERICA (CANADA & MEXICO ONLY)-Accrual true INSTITUTIONAL 2362 34127191 ENDOWED 226 549242 OUTSIDE 116 317749 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds BENEDICTINE UNIVERSITY'S OFFICE OF FINANCIAL AID ADMINISTERS FEDERAL TITLE IV, STATE, PRIVATE AND INSTITUTIONAL GRANTS IN THE FORM OF STUDENT SCHOLARSHIPS, GRANTS, WAIVERS AND AWARDS. THE OFFICE OF FINANCIAL AID FOLLOWS SPECIFIC GRANT PROGRAM CRITERIA TO: DETERMINE STUDENT ELIGIBILITY AND SELECTION; MONITOR APPROPRIATE HANDLING OF FUNDS, AND; MEET REPORTING AND RECORD RETENTION REQUIREMENTS. DOCUMENTATION OF ALL STUDENT FINANCIAL ASSISTANCE FUNDING IS MAINTAINED IN THE STUDENT'S AID FILE AND UNIVERSITY COMPUTER SYSTEM. X X X true true X X X X false false false false false false false false false JOSEPH FOY PRESIDENT 347337 0 0 0 36328 0 0 0 17394 0 401059 0 0 0 IRENE GENDEL INTERIM CFO UNTIL 5/31/2021 116522 0 0 0 1861 0 0 0 22276 0 140659 0 0 0 David Sonnenberger INTERIM PROVOST (UNTIL 5/1/2020) / INTERIM CHIEF ACADEMIC OFFICER 110459 0 0 0 0 0 0 0 12252 0 122711 0 0 0 Brian Qualizza Chief Financial Officer 166518 0 0 0 636 0 0 0 27779 0 194933 0 0 0 Christopher Duffrin PROFESSOR 212307 0 0 0 1471 0 0 0 18017 0 231795 0 0 0 Olga Lambert Dean 171753 0 0 0 23356 0 0 0 22871 0 217980 0 0 0 Ramkrishnan Tenkasi Professor 178043 0 0 0 2816 0 0 0 35427 0 216286 0 0 0 CHARLES GREGORY Advisor to the President 204000 0 0 0 0 0 0 0 660 0 204660 0 0 0 William Law Professor 151298 0 0 0 4344 0 0 0 44124 0 199766 0 0 0 Schedule J, Part I, Line 1a Travel for companions PER PRESIDENT'S EMPLOYMENT AGREEMENT, THE PRESIDENT CAN TRAVEL WITH HIS WIFE IN CONNECTION WITH HIS OFFICIAL DUTIES AND RESPONSIBILITIES. This is related to business purposes and is considered non-taxable income Schedule J, Part I, Line 1a Housing allowance or residence for personal use HOUSING ALLOWANCE IS INCLUDED IN PRESIDENT'S EMPLOYMENT AGREEMENT and treated as taxable income. Schedule J, Part I, Line 1a Health or social club dues or initiation fees PER PRESIDENT'S EMPLOYMENT AGREEMENT, PRESIDENT CAN BE REIMBURSED FOR MEMBERSHIP IN A SOCIAL CLUB BASED ON MUTUAL AGREEMENT OF PRESIDENT AND CHAIR OF THE BOARD since this relates to business purposes. Any such reimbursements are considered non-taxable income. A ILLINOIS FINANCE AUTHORITY 861091967 45204EUH9 2017-05-31 35710762 SEE PART VI false false false B ILLINOIS FINANCE AUTHORITY 861091967 45204FGQ2 2021-02-11 20507081 REFUND 2013A BONDS false false false A 2150000 0 36021168 2887680 0 0 646815 0 0 0 32486673 0 2017 true false true true B 1790000 0 20597178 0 0 0 410142 0 0 0 20187036 0 2021 true false true true A false false false false false false 0 0 0.0 false false 0 false true B false false false false false false 0 0 0.0 false false 0 false true A false false false true false false 0 false false false 0 false false true B false true false false false false 0 false false false 0 false false true A true B true Schedule K, Part I, Column (f) DESCRIPTION OF PURPOSE ILLINOIS FINANCE AUTHORITY, SERIES 2017 - TO REFINANCE ILLINOIS FINANCE AUTHORITY, SERIES 2013B BONDS AND PAY OFF THE BRIDGE LINE OF CREDIT AND TERMINATE SWAP AGREEMENT WITH CITIZENS BANK Schedule K, Part II, Line 3 Total Proceeds of Issue The proceeds of issue differs from the reported bond issue due to investment earnings on bond proceeds held in trust. Schedule K, Part IV, Line 2c COLUMN A Issuer name: ILLINOIS FINANCE AUTHORITY The calculation for computing no rebate due was performed on 05/31/2022 KATIE DEDIO FAMILY MEMBER OF FORMER OFFICER 50060 EMPLOYEE COMPENSATION false Form 990, Part VI, Line 15a PROCESS TO ESTABLISH COMPENSATION OF TOP MANAGEMENT OFFICIAL The process of determining compensation of the President of the University: The Chairman of the Board of Trustees and two independent members of the Board comprised the Compensation Committee. This group reviewed and determined executive compensation through the use of comparable compensation data from various sources including relevant external compensation surveys, compensation data from peer educational institutions, and internal executive equity analysis. The committee met and reviewed salary history and performed an analysis in reaching the annual compensation. Based on this analysis, the Compensation Committee made a recommendation to the Executive Committee of the Board of Trustees for final approval. Contemporaneous documentation was kept and maintained. This process was most recently undertaken in July 2025, with the prior review taking place in July 2023; therefore, this question has intentionally been answered "no" in accordance with the IRS instructions to the Form 990, as these reviews were conducted outside of the tax year ending 5/31/2025. Form 990, Part VI, Line 15b PROCESS TO ESTABLISH COMPENSATION OF OTHER OFFICERS OR KEY EMPLOYEES During FYE 5/31/2024, the University reviewed and determined CFO compensation using industry trends for similar roles at comparable Universities, leveraging data provided by the College and University Professional Association. This comparability data was reviewed by the President of the University, with the ultimate approval of CFO compensation obtained from the Board of Directors of the University. Contemporaneous documentation was kept and maintained. Because this process was most recently undertaken outside of the tax year ending 5/31/2025, this question has intentionally been answered "no" in accordance with the IRS instructions to the Form 990. Form 990, Part VI, Line 1a Delegate broad authority to a committee The membership of the Executive Committee shall consist of the Officers of the Board, the immediate past Chair of the Board, and the chairs of the standing committees of the Board. The Chair of the Board and the President of the University may jointly add additional members to the committee. The Executive Committee shall have and exercise all the authority of the Board of Trustees in the management of the University, as may be authorized by the Board of Trustees or provided by law or by the charter or bylaws of the University. Form 990, Part VI, Line 11b Review of form 990 by governing body THE CFO, ALONG WITH OTHER MEMBERS OF THE BUSINESS AND FINANCE DEPARTMENT, REVIEWED THE DRAFT FORM 990, TOGETHER WITH ITS OUTSIDE ACCOUNTING FIRM. THE COMPLETED 990 IS REVIEWED BY THE FINANCE AND AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. A COPY IS PROVIDED TO EACH MEMBER OF THE FULL BOARD OF TRUSTEES PRIOR TO FILING. Form 990, Part VI, Line 12c Conflict of interest policy THE COMPLIANCE OFFICER ANNUALLY DISTRIBUTES THE CONFLICTS OF INTEREST POLICY AND DISCLOSURE QUESTIONNAIRE, TO TRUSTEES, OFFICERS, FACULTY AND STAFF. TRUSTEES RECEIVE A COPY OF THE CONFLICTS OF INTEREST POLICY IN THE TRUSTEE HANDBOOK. EACH IS REQUIRED TO ANNUALLY DISCLOSE ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST BY SIGNING AND SUBMITTING THE UNIVERSITY DISCLOSURE QUESTIONNAIRE AND UPDATING IT AS PERTINENT NEW INTERESTS OR SITUATIONS ARISE. RESPONSES TO THE DISCLOSURE QUESTIONNAIRE ARE REVIEWED AND DISCLOSED CONFLICTS ARE RESOLVED. THE OFFICE OF THE PROVOST, THE OFFICE OF BUSINESS AND FINANCE SERVICES, AND THE COMPLIANCE OFFICER PROVIDE ASSISTANCE BY ANSWERING QUESTIONS AND PROVIDING GUIDANCE ON APPROACHES TO RESOLVING CONFLICTS OF INTEREST. INDIVIDUALS WHO FAIL TO COMPLETE THE ANNUAL DISCLOSURE QUESTIONNAIRE AND/OR FAIL TO DISCLOSE ACTUAL OR POTENTIAL CONFLICTS OF INTEREST ARE SUBJECT TO APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. Form 990, Part VI, Line 19 Required documents available to the public THE UNIVERSITY MAKES ITS GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY AND FINANCIAL INFORMATION AVAILABLE TO THE PUBLIC UPON REQUEST. THE FINANCIAL INFORMATION IS ALSO PUBLISHED IN THE UNIVERSITY'S VOICES MAGAZINE. THE BENEDICTINE UNIVERSITY CONFLICTS OF INTEREST POLICY IS AVAILABLE ON THE COMPLIANCE PAGE OF THE UNIVERSITY'S WEBSITE. Form 990, Part XI, Line 9 Other changes in net assets or fund balances Investment returns transferred to operations - -2700000; Total - -2700000; FOUNDERS WOODS LTD 5700 COLLEGE ROAD LISLE IL 60532 364376857 SUPPORT BU IL 501(c)(3) 10 BU true CHARITABLE REMAINDER ANNUITY TRUST (2) 5700 College Road Lisle IL 60532 Trust IL NA Trust false false false false false false false false false false false false false false false false false false false false