2026-05-13T10:55:40-05:00 2025-06-30 390859910 BAKER TILLY ADVISORY GROUP LP 225 S 6TH ST 2300 MINNEAPOLIS MN 55402 990 2024-07-01 420686467 COE COLLEGE COEC 3193998643 1220 FIRST AVENUE NE CEDAR RAPIDS IA 52402 JAMES CHOATE VP FOR FINANCE & ADMIN. 3193998643 2026-05-11 1 1 KAREN A GRIES P00078514 6128764500 2026-05-11 2024 2025-03-06 01:10:19Z DAVID HAYES 1220 FIRST AVENUE NE CEDAR RAPIDS IA 52402 127310402 0 X WWW.COE.EDU X 1881 IA COE COLLEGE IS A PRIVATE, FOUR-YEAR CO-EDUCATIONAL LIBERAL ARTS COLLEGE. 36 33 1199 533 0 0 5932102 9679889 74604762 72778175 593163 5103781 7317 9663 81137344 87571508 46429381 45638364 0 0 21631861 20333996 0 0 508152 20781847 19890637 88843089 85862997 -7705745 1708511 174724219 178054819 37331043 36094327 137393176 141960492 X SEE SCHEDULE O. 0 0 58878257 45638364 60981211 INSTRUCTION - COE COLLEGE IS A SELECTIVE, PRIVATE AND NATIONALLY RECOGNIZED FOUR-YEAR COEDUCATIONAL LIBERAL ARTS INSTITUTION, PROVIDING SUPERIOR EDUCATIONAL EXPERIENCES FOR STUDENTS SINCE 1851. TO EACH OF ITS MORE THAN 1,200 STUDENTS, THE INSTITUTION OFFERS THE ADVANTAGES OF A SMALL COLLEGE THAT IS DEDICATED TO ACADEMIC EXCELLENCE. STUDENT-FACULTY RATIOS ARE LOW AT 11 TO 1, THE AVERAGE CLASS SIZE IS 17, AND 95% OF FULL-TIME FACULTY MEMBERS HAVE EARNED THE HIGHEST DEGREE IN THEIR RESPECTIVE FIELDS. STUDENTS CAN THUS RECEIVE A LEVEL OF PERSONALIZED ATTENTION THAT HAS ALMOST DISAPPEARED ELSEWHERE IN MODERN ACADEMIA. THE CAMPUS PRESENTS AN INVITING ENVIRONMENT TO STUDENTS BOTH INSIDE AND OUTSIDE THE CLASSROOM, OFFERING A VARIETY OF OPPORTUNITIES FOR GROWTH AND PERSONAL ENRICHMENT IN THE MANY INTELLECTUAL, ATHLETIC AND SERVICE PURSUITS AVAILABLE.COE IS RECOGNIZED AS ONE OF THE FINEST LIBERAL ARTS COLLEGES IN THE COUNTRY BY A VARIETY OF WIDELY RESPECTED COLLEGE RANKING PUBLICATIONS THAT WEIGH ACADEMIC QUALITY AND STUDENT SELECTIVITY. COE COLLEGE ENJOYS BOTH AN EXCELLENT REGIONAL REPUTATION AND NATIONAL RECOGNITION FOR THE STRENGTH OF ITS PROGRAMS. THROUGH CAREFUL PLANNING, SELECTIVE USE OF RESOURCES, AND THE EFFORTS OF A DEDICATED FACULTY AND STAFF, COE HAS NOT ONLY MAINTAINED BUT STRENGTHENED ITS POSITION AMONG LIBERAL ARTS COLLEGES IN THE MIDWEST. 11642593 1138383 STUDENT SERVICES - THIS INCLUDES EXPENDITURES FOR THE OPERATION AND MAINTENANCE OF COLLEGE FACILITIES. WITH 38 BUILDINGS ON MORE THAN 60 ACRES, MAINTENANCE OF COLLEGE FACILITIES IS AN IMPORTANT CONSIDERATION FOR THE COLLEGE. SIGNIFICANT CAMPUS IMPROVEMENTS OVER THE PAST TWO DECADES HAVE BEEN COMPLETED SO THAT STUDENTS AND FACULTY MAY ENJOY AN ENVIRONMENT CONDUCIVE TO LEARNING, WITH THE FACILITIES TO SUPPORT THE MISSION OF THE COLLEGE. 7273225 10658581 AUXILIARY ENTERPRISES - THIS INCLUDES THE COLLEGE'S RESIDENCE HALLS, COLLEGE RENTAL HOUSING, FOOD SERVICES, THE STUDENT UNION AND SUMMER CONFERENCES. WITH MORE THAN 1,000 STUDENTS IN CAMPUS HOUSING, RESIDENTIAL LIFE IS CENTRAL TO THE COE EXPERIENCE FOR STUDENTS. THE COLLEGE ALSO SERVES AS A RESOURCE TO THE SURROUNDING COMMUNITY THROUGHOUT THE YEAR BY HOSTING YOUTH CLUBS AND ACTIVITIES AND DERIVES SOME REVENUE FROM HOSTING SUMMER CONFERENCES IN ITS FACILITIES. 1222218 LIBRARY PROGRAM SERVICES IS THE ONLY OTHER PROGRAM SERVICE NOT IDENTIFIED SEPARATELY IN PART III LINES 4A-4C. LIBRARY SERVICES INCLUDES ALL ACCOMPANYING COSTS ASSOCIATED WITH OPERATING AND MAINTAINING THE CAMPUS LIBRARY AND ASSOCIATED SERVICES. 1222218 79016293 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 0 1 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 1703 0 1 1199 1 0 0 0 0 0 1 1 0 0 0 1 0 0 0 X 36 33 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 AL CO DC IA MA MD MI MN NH NV NY OH SC WA X JEFF RUMMEL CONTROLLER 3193998241 1220 1ST AVE NE CEDAR RAPIDS IA 52402 DAVID HAYES PRESIDENT 40.00 X X 292725 0 40054 CARSON VEACH CHAIRMAN OF THE BOARD 1.00 X X 0 0 0 SIGI REYNOLDS VICE CHAIR 1.00 X X 0 0 0 CURT MENEFEE 2ND VICE CHAIR 1.00 X X 0 0 0 KRISTIN LENZ SECRETARY 1.00 X X 0 0 0 BOLA GEORGE TRUSTEE 1.00 X 0 0 0 BRETT RULE TRUSTEE 1.00 X 0 0 0 CRAIG STRUVE TRUSTEE 1.00 X 0 0 0 DAVID GEHRING TRUSTEE 1.00 X 0 0 0 DENNIS GREENSPON TRUSTEE 1.00 X 0 0 0 ED WALSH TRUSTEE 1.00 X 0 0 0 GENE HENDERSON TRUSTEE 1.00 X 0 0 0 HANK TAYLOR TRUSTEE 1.00 X 0 0 0 JON REINER TRUSTEE 1.00 X 0 0 0 JULIE JOHNSON MCLEAN TRUSTEE 1.00 X 0 0 0 KEN GOLDER TRUSTEE 1.00 X 0 0 0 KENT HERINK TRUSTEE 1.00 X 0 0 0 KEVIN BUCKNER TRUSTEE 1.00 X 0 0 0 KRISTIN STROHM TRUSTEE 1.00 X 0 0 0 LARRY SHRYOCK TRUSTEE 1.00 X 0 0 0 LAUREN GILBERTSON TRUSTEE 1.00 X 0 0 0 MARY JEANNE KROB TRUSTEE 1.00 X 0 0 0 MARY JORGENSON TRUSTEE 1.00 X 0 0 0 OKPARA RICE TRUSTEE 1.00 X 0 0 0 PAUL MEYER TRUSTEE 1.00 X 0 0 0 PETER BIRKEY TRUSTEE 1.00 X 0 0 0 PAT STEELE TRUSTEE 1.00 X 0 0 0 SAM FREITAG TRUSTEE 1.00 X 0 0 0 SARAH HEMMING-MEYER TRUSTEE 1.00 X 0 0 0 SHION KABASELE TRUSTEE 1.00 X 0 0 0 SHIRLEY HUGHES TRUSTEE 1.00 X 0 0 0 STEPHANIE KROGER TRUSTEE 1.00 X 0 0 0 STEVEN KLINE TRUSTEE 1.00 X 0 0 0 SUMIT NIJHAWAN TRUSTEE 1.00 X 0 0 0 TIM SAGERS TRUSTEE 1.00 X 0 0 0 WALE ADEOSUN TRUSTEE 1.00 X 0 0 0 JULIE STAKER VP FOR ENROLLMENT, MKTG, & INST. 40.00 X 197471 0 53201 ANGELA ZISKOWSKI PROVOST & DEAN OF FACULTY 40.00 X 171134 0 20089 KAYT CONRAD VP OF FINANCE & ADMIN 40.00 X 134032 0 3910 JEFFREY RUMMEL CONTROLLER 40.00 X 77056 0 72 CARLY VANDER VELDEN ASSISTANT CONTROLLER 40.00 X 68056 0 8684 KIM PRIBYL - ASST TO THE PRESIDENT & ASST SECRETARY 40.00 X 51111 0 16872 MARIO AFFATIGATO PROFESSOR OF PHYSICS AND ASST. 40.00 X 154510 0 9658 JOSHUA KITE ASSISTANT VP FOR ENROLLMENT 40.00 X 132163 0 20835 STEVEN FELLER PROFESSOR OF PHYSICS 40.00 X 128268 0 2011 CAIO BRAGATTO THROUGH 1224 ASSI. PRO OF ENGINEERING 40.00 X 111268 0 8786 BARBARA TUPPER ASSOCIATE VP OF DEVELOPMENT 40.00 X 108461 0 2804 1626255 0 186976 13 0 1 0 SODEXO INC 9801 WASHINGTON BLVD GAITHERSBURG MD 20878 FOOD SERVICE 2765311 BUILD TO SUIT 1805 STATE ST BETTENDORF IA 52722 CONSTRUCTION/REPAIRS 1388014 EAB GLOBAL INC 2445 M ST NW WASHINGTON DC DC 20037 MARKET CONSULTING 308043 DAY MECHANICAL SYSTEMS INC 325 WACONIA CT SW CEDAR RAPIDS IA 52404 CONSTRUCTION/REPAIRS 203059 BAKER TILLY US LLP 311 PARSONS DR HIAWATHA IA 52233 ACCOUNTING SERVICES 165947 6 15060 538922 1302643 7823264 623369 9679889 STUDENT TUITION/FEES 611600 60981211 60981211 AUXILIARY ENTERPRISES 611600 10658581 10658581 MISC. FEES & CHARGE 611710 1138383 1138383 72778175 3970428 3970428 40859306 39725953 1133353 1133353 1133353 22604 15060 12941 9663 9663 87571508 72778175 0 5113444 X 45638364 45638364 837537 837537 16075196 13768662 2029945 276589 127453 95447 26098 5908 2029362 1566095 391584 71683 1264448 1048004 156841 59603 59928 59928 159942 159942 127845 127845 594931 193962 400969 349702 239667 109936 99 1643289 852660 725734 64895 2474120 2474120 747305 672194 54171 20940 752696 722625 30071 3134691 3041942 92749 230787 215326 15461 FACILITIES OPERATIONS 5430009 5253483 176526 INSTRUCTION AND RESEARC 2058046 1701716 347895 8435 REPAIRS AND MAINTENANCE 716325 674593 41732 RECRUITING 656536 656536 754485 200897 553588 85862997 79016293 6338552 508152 6143721 6676507 2071706 1988739 2193749 1420963 950540 1145895 135587267 66225007 69276732 69362260 57144147 60548326 5627638 6344328 2632444 2021971 28683542 28545830 174724219 178054819 2685201 2713393 281023 271144 25355077 24141740 9009742 8968050 37331043 36094327 X 48036980 46493784 89356196 95466708 137393176 141960492 174724219 178054819 X 1708511 3614805 -756000 X X 0 1 X 1 1 1 X 8843800 10837694 5198803 5932102 9679889 40492288 8843800 10837694 5198803 5932102 9679889 40492288 3027704 37464584 2156584 1823158 1558180 1496081 3970428 11004431 54079 9313 7630 0 71022 51567741 368774315 0.72650 0.74920 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6589983 8175000 X X X X 0 80717520 5195008 8556006 1774014 6302854 86391666 84041932 1175452 7368504 1748148 10120220 80717520 86900808 1223605 6812914 1745982 9149413 84041932 102626239 1792542 -12900971 1686625 2930377 86900808 86500182 1306179 20023201 1627648 3575675 102626239 0.00100 0.97500 0.02400 1 0 15785003 15785003 104457322 51609552 52847770 15344942 14615455 729487 69362260 ACCRUED INTEREST RECEIVABLE 512724 ARTWORK 14764983 CASH VALUE OF LIFE INSURANCE 1669582 REAL EST, LAND & MNRL RIGHTS 30002 TRUST AGREEMENTS 10426064 ACCRUED GAIN ON INTEREST RATE SWAPS 620500 RIGHT OF USE ASSETS 521975 28545830 DUE TO US GOVT-PERKINS LOAN 865868 ANNUITY PAYABLE 464912 DEPOSITS HELD ON BEHALF OTHERS 405638 LIABILITY TO LIFE TENANT 753622 ACCRUED PENSION COST 1256586 STATE OF IOWA ENERGY LOAN 1145077 FINANCE LEASE LIABILITIES 518676 CONSTRUCTION LOAN 3557671 8968050 X 45420104 3614805 3614805 41805299 127845 45638364 45766209 87571508 40096788 0 40096788 127845 45638364 45766209 85862997 PART III, LINE 4: THE COMMITTEE ON THE PERMANENT COLLECTION OF ART SHALL DETERMINE IF THE PROPOSED GIFT OF ARTWORK IS SUITABLE FOR ACCEPTANCE BY CONSIDERING WHETHER THE FOLLOWING CONDITIONS HAVE BEEN MET: THE ARTWORK FURTHERS THE MISSION OF COE COLLEGE. THE ARTWORK IS COMPATIBLE WITH OR COMPLEMENTARY TO THE CURRENT ART COLLECTION. THE DONOR HAS VALID OWNERSHIP OF THE ARTWORK, AND IS FREE TO CONVEY THE WORK. THERE ARE NO UNTENABLE RESTRICTIONS, RESERVATIONS OR LIMITATIONS PLACED ON THE ARTWORK OR ITS DISPLAY. THE COSTS FOR RESTORATION, MAINTENANCE AND INSURANCE ARE REASONABLE AND APPROPRIATE. THE COMMITTEE ON THE PERMANENT COLLECTION OF ART PROVIDES THE PRESIDENT WITH A RECOMMENDATION FOR ACCEPTANCE OR REFUSAL. PART V, LINE 4: THE COE COLLEGE ENDOWMENT FUND HAS BEEN ESTABLISHED BY THE BOARD OF TRUSTEES AS AN INVESTMENT PORTFOLIO FOR THE ASSETS CONTRIBUTED BY DONORS FOR THE CONTINUING SUPPORT OF THE COLLEGE AND OTHER DONOR DESIGNATED PURPOSES. THE DEVELOPMENT AND EXPANSION OF THIS FUND IS AN IMPORTANT PART OF THE COLLEGE'S OBJECTIVES FOR MAINTAINING QUALITY IN FACULTY, STUDENTS AND FACILITIES. THE FUND IS COMPRISED OF PERMANENT AND TEMPORARILY RESTRICTED ENDOWMENT ASSETS. ALL ENDOWMENT INCOME SUPPORTS THE COLLEGE OPERATIONS AND PROVIDES SCHOLARSHIPS FOR STUDENTS. PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, THE COLLEGE IS NOT SUBJECT TO FEDERAL INCOME TAXES EXCEPT TO THE EXTENT IT DERIVES INCOME FROM CERTAIN ACTIVITIES NOT SUBSTANTIALLY RELATED TO ITS TAX-EXEMPT PURPOSES (UNRELATED BUSINESS ACTIVITIES). THE COLLEGE IS ALSO EXEMPT FROM STATE INCOME TAXES. THE COLLEGE FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE COLLEGE FOR UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2025 AND 2024. THE COLLEGE'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: COLLEGE AWARDED FINANCIAL AID 45,638,364. PART XII, LINE 4B - OTHER ADJUSTMENTS: COLLEGE AWARDED FINANCIAL AID 45,638,364. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE RACIALLY NONDISCRIMINATORY POLICY IS PROVIDED THROUGH NEWSPAPER AND BROADCAST MEDIA SOLICITATION. IN ADDITION, IT IS PROVIDED IN ALL ADMISSION PUBLICATIONS, COLLEGE WEBSITE AND THE COLLEGE HANDBOOK. SCHEDULE E, PART I, LINE 6 COE COLLEGE RECEIVES FEDERAL AND STATE FINANCIAL AID AND GRANTS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS NOT APPLICABLE 1774223 0 0 0 0 0 0 1774223 0 1774223 1 0 1 1 1 0 GOLF OUTING 37664 15060 22604 3367 5280 3750 544 37664 15060 22604 3367 5280 3750 544 12941 9663 1 ENDOWED PRIZES 63 32932 GIFT PRIZES 6 2293 GIFT SCHOLARSHIPS 28 89741 ENDOWED SCHOLARSHIPS 244 1730384 GENERAL SCHOLARSHIPS 1158 42265823 OTHER GRANTS 443 1517191 PART I, LINE 2: COE COLLEGE RECEIVES VARIOUS FEDERAL GRANTS FROM NSF, DEPT OF EDUCATION AND OTHER AGENCIES OR BRANCHES OF THE US GOVERNMENT. SEPARATE ACCOUNTS ARE USED FOR EACH GRANT TO MONITOR RECEIPTS AND DISBURSEMENTS. THE COLLEGE FOLLOWS APPROPRIATE ACCOUNTING AND INTERNAL CONTROL PROCEDURES. ALL REQUIRED FINANCIAL REPORTING TO THE GRANT PROVIDER ARE COMPLETED TIMELY AND AUDITS BY AN INDEPENDENT CPA FIRM ARE DONE WHEN REQUIRED. THE COLLEGE ANNUALLY COMPLETES FILINGS REQUIRED BY UNIFORM GUIDANCE. DISTRIBUTIONS TO STUDENTS ARE MADE ACCORDING TO GRANT REQUIREMENTS. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 DAVID HAYES PRESIDENT 287873 0 0 0 4852 0 7253 0 32801 0 332779 0 0 0 JULIE STAKER VP FOR ENROLLMENT, MKTG, & INST. 191251 0 0 0 6220 0 4616 0 48585 0 250672 0 0 0 ANGELA ZISKOWSKI PROVOST & DEAN OF FACULTY 171134 0 0 0 0 0 4300 0 15789 0 191223 0 0 0 MARIO AFFATIGATO PROFESSOR OF PHYSICS AND ASST. 154510 0 0 0 0 0 2797 0 6861 0 164168 0 0 0 JOSHUA KITE ASSISTANT VP FOR ENROLLMENT 132163 0 0 0 0 0 3393 0 17442 0 152998 0 0 0 PART I, LINE 1A EMPLOYMENT AGREEMENT STATES COE COLLEGE REQUIRES THAT ITS PRESIDENT LIVE IN A PRESIDENT'S HOUSE OR MANSE OWNED BY THE COLLEGE BECAUSE OF ITS REQUIREMENT THAT THE PRESIDENT CONDUCT SIGNIFICANT BUSINESS ACTIVITIES AND REGULARLY HOST COLLEGE RELATED EVENTS AND ENTERTAINMENT ON COLLEGE PROPERTY. THE PRESIDENT IS REQUIRED TO MAINTAIN AN OFFICE AT THE MANSE IN ORDER TO BE AVAILABLE TO ATTEND TO THE RESPONSIBILITIES OF THE OFFICE AND THE BUSINESS OF THE COLLEGE AT ALL TIMES, AS IT IS NOT PRACTICAL FOR THE PRESIDENT TO DISCHARGE THE DUTIES OF THE OFFICE SOLELY FROM AN OFFICE ON THE CAMPUS, BECAUSE THE PRESIDENT'S RESPONSIBILITIES OFTEN REQUIRE WORK OUTSIDE NORMAL BUSINESS HOURS. IN ADDITION, THE SPACE AND OTHER REQUIREMENTS ASSOCIATED WITH THE CONDUCT OF LARGE STUDENT AND ALUMNI EVENTS AND OTHER FUNCTIONS FOR FRIENDS OF THE COLLEGE REQUIRE A RESIDENCE OF THE SIZE AND LOCATION OF THE MANSE. THE RESIDENCE IS LOCATED AT 370 34TH STREET SE, CEDAR RAPIDS, IOWA, WHICH IS OWNED BY THE COLLEGE AND IS DESIGNATED THE OFFICIAL COLLEGE MANOR. THE PRESIDENT'S EMPLOYMENT AGREEMENT REQUIRES COE COLLEGE TO PAY ALL INSURANCE COSTS, UTILITIES, AND MAINTENANCE EXPENSES RESULTING FROM THE PRESIDENT'S RESIDING IN THE MANSE, AND OBLIGATES THE PRESIDENT TO PAY THE COSTS OF ORDINARY DAY-TO-DAY LIVING EXPENSES OF LIVING IN THE MANSE, INCLUDING, WITHOUT LIMITATION, LAWN CARE AND SNOW REMOVAL (EXCEPT WHEN ASSOCIATED WITH A COLLEGE RELATED EVENT), LAUNDRY AND CLEANING SUPPLIES, AND TELEVISION, INTERNET, AND TELEPHONE SERVICES. COUNTRY CLUB DUES ARE INCLUDED IN TAXABLE INCOME ON W-2S. A IOWA FINANCE AUTHORITY 521699886 000000000 2016-06-28 41833715 SEE PART VI 0 0 0 A 16896944 40604649 100000 19376934 21127715 1 0 1 1 A 0 0 1 1 0 0.00560 0.00000 0.00560 0 0 1 A 0 0 1 1 1 1 SEE PART VI 0 0 0 0 1 A 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: IOWA FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 12/31/2017 SCHEDULE K PART I, COLUMN F - REFUND PRIOR ISSUES (06/08/07), (07/22/09), (08/05/11), (05/30/12), (04/17/16), CONSTRUCTION RENOVATION. PART II, LINE 3 - THE TOTAL PROCEEDS DO NOT AGREE TO THE ISSUE PRICE IN PART I, COLUMN (E) AS THIS DEBT WAS ISSUED ON A DRAW-DOWN BASIS AND THE TOTAL PRINCIPAL DRAWN DOWN WAS LESS THAN THE AMOUNT AVAILABLE. THE REMAINING PRINCIPAL WILL NOT BE DRAWN. PART IV, LINE 2C - NOTE REGARDING THE REBATE COMPUTATION: A PORTION OF THE BOND PROCEEDS MET A SPENDING EXCEPTION AND A PORTION OF THE PROCEEDS WERE ISSUED ON A DRAW-DOWN BASIS AND AMOUNTS WERE DRAWN AS PROJECT COSTS WERE INCURRED. AS NO REBATABLE ARBITRAGE WAS EARNED AND THE DEBT SERVICE FUND WAS OPERATED ON A BONA FIDE BASIS, NO FURTHER REBATE ANALYSIS IS NECESSARY. PART IV, LINE 4B AND 4C - U.S. BANK N.A., 9.3 YEARS, AND U.S. BANK, N.A., 9.9 YEARS. X 3 47891 FAIR MARKET VALUE X 31 454478 FAIR MARKET VALUE X 1 121000 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): THE NUMBER ON COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART III ORGANIZATION MISSION: IT IS THE MISSION OF COE COLLEGE TO PROVIDE STUDENTS AN EDUCATION OF SUPERIOR QUALITY THAT AIMS AT PREPARING THEM FOR LIFE FOLLOWING GRADUATION. OUR REASON TO EXIST AS AN INSTITUTION IS TO READY STUDENTS INTELLECTUALLY, PROFESSIONALLY, AND SOCIALLY TO LEAD PRODUCTIVE AND SATISFYING LIVES IN THE GLOBAL SOCIETY OF THE 21ST CENTURY. AS SUCH, OUR SUCCESS AS A COLLEGE IS MEASURED ACCORDING TO THE SUCCESS OF OUR GRADUATES. WE BELIEVE THAT A LIBERAL ARTS EDUCATION IS THE BEST PREPARATION FOR LIFE. WE BELIEVE THAT SUCH AN EDUCATION ALLOWS STUDENTS TO DISCOVER WHAT THEIR REAL TALENTS AND INTERESTS ARE, AND THAT IT DEVELOPS IN THEM THE SKILLS, ABILITIES, AND HABITS OF MIND THAT WILL MAKE POSSIBLE A SUCCESSFUL CAREER IN ANY FIELD OF ENDEAVOR, INCLUDING ONES THAT DO NOT YET EXIST. INDEED, WE BELIEVE THAT WHAT DEFINES A LIBERAL ARTS EDUCATION IS ITS FOCUS ON CULTIVATING IN STUDENTS CERTAIN FUNDAMENTAL ABILITIES: THE ABILITY TO THINK LOGICALLY AND ANALYTICALLY; THE ABILITY TO COMMUNICATE CLEARLY, BOTH IN WRITING AND SPEAKING; THE ABILITY TO USE COMPUTER TECHNOLOGY EFFECTIVELY; THE ABILITY TO WORK PRODUCTIVELY AS A MEMBER OF A GROUP SEEKING TO ACHIEVE A COMMON OBJECTIVE; THE ABILITY TO MAKE INFORMED JUDGMENTS, WHETHER IN THE REALM OF ETHICAL BEHAVIOR OR IN THAT OF AESTHETIC APPRECIATION; THE ABILITY TO FOSTER AND SUSTAIN AN ATTITUDE OF INTELLECTUAL CURIOSITY AND CREATIVITY; AND THE ABILITY TO RECOGNIZE AND HONOR TRUE EXCELLENCE WHEN FOUND IN ANY FORM OR CONTEXT. FURTHERMORE, WE BELIEVE THAT IT IS IMPORTANT FOR A LIBERAL ARTS EDUCATION TO CULTIVATE IN STUDENTS A DESIRE TO UNDERSTAND, A CAPACITY FOR TOLERANCE, AND AN ABILITY TO APPRECIATE THE ETHNIC AND CULTURAL DIVERSITY THAT MAKE UP HUMAN KIND. IT IS THE MISSION OF THE COLLEGE TO DEVELOP IN STUDENTS THESE ABILITIES AND ATTITUDES, AND IN SO DOING TO PROVIDE THEM AN EDUCATION THAT DIRECTS THEM TOWARD A MEANINGFUL AND SUCCESSFUL LIFE. COE'S ACADEMIC PROGRAM REFLECTS A COMMITMENT TO DEVELOPING THESE ABILITIES BY ITS INSISTENCE THAT STUDENTS ACQUIRE CERTAIN EDUCATIONAL EXPERIENCES. WE REQUIRE THAT STUDENTS COMPLETE BOTH OUR GENERAL EDUCATION REQUIREMENTS, WHICH ENSURE BREADTH OF LEARNING, AND OUR REQUIREMENTS FOR A MAJOR; WHICH GUARANTEE DEPTH OF KNOWLEDGE IN A PARTICULAR FIELD. IN ADDITION, AS PART OF EACH STUDENT'S EDUCATION, A SERIES OF INTENSIVE WRITING EXPERIENCES, SPREAD ACROSS THE FOUR YEARS OF STUDY, IS REQUIRED. BEYOND THESE REQUIREMENTS, STUDENTS ARE ENCOURAGED TO BEGIN PLANNING FOR THEIR LIVES AFTER COLLEGE EARLY ON IN THEIR UNDERGRADUATE CAREERS, AND, THROUGH CAREFUL ADVISING, THEY ARE GIVEN GUIDANCE AND DIRECTION IN THIS ENDEAVOR. INDEED, THE DEFINING FEATURE OF A COE EDUCATION IS THE REQUIREMENT THAT EVERY STUDENT PLAN AND PARTICIPATE IN ONE OF THE FOLLOWING: A SIGNIFICANT EXPERIENTIAL PROJECT, SUCH AS AN INTERNSHIP; A MAJOR SCHOLARLY UNDERTAKING; OR STUDY ABROAD. THESE EXPERIENCES WILL OFTEN, THOUGH NOT INVARIABLY, OCCUR DURING THE JUNIOR YEAR. THE HALLMARK OF A COE EDUCATION IS OUR ATTENTION TO EACH STUDENT AS AN INDIVIDUAL. IT IS ALSO IMPORTANT THAT THE COLLEGE ENVIRONMENT AT COE REFLECTS OUR COMMITMENT TO A DIVERSE STUDENT BODY AND OVERALL COLLEGE COMMUNITY. WE BELIEVE THAT THROUGH LISTENING CAREFULLY TO EACH STUDENT AS THEIR INTERESTS AND UNIQUE TALENTS ARE FORMED, AND THROUGH TAILORING AN ACADEMIC PROGRAM TO SUIT EACH STUDENT'S FUTURE, WE HELP THAT STUDENT DEVELOP ABILITIES THAT PROVIDE THE BEST PREPARATION FOR LIFE. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE OF THE BOARD HAS BEEN GIVEN AUTHORIZATION BY THE BOARD OF TRUSTEES TO ACT ON SUCH MATTERS AS SETTING COMPREHENSIVE FEES, AUTHORIZING PURCHASES AND ACQUISITIONS OF PROPERTY AND, REVIEWING APPROPRIATE INSURANCE COVERAGE. ALL ITEMS THAT THE EXECUTIVE COMMITTEE HAS AUTHORIZED ARE SUBSEQUENTLY APPROVED BY CONSENT AGENDA OF THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE COLLEGE'S AUDIT & COMPLIANCE COMMITTEE OF THE BOARD OF TRUSTEES CONDUCTS A THOROUGH REVIEW OF EACH FORM 990 FILED BY THE COLLEGE PRIOR TO BEING FILED WITH THE IRS. THE COMMITTEE RECEIVES THE RETURNS FROM THE OUTSIDE ACCOUNTANTS. THE COMMITTEE AND A REPRESENTATIVE FROM THE OUTSIDE ACCOUNTANTS REVIEW THE RETURNS TOGETHER. ALL MEMBERS OF. THE BOARD OF TRUSTEES ARE ADVISED OF THE REVIEW OF EACH FORM 990 BY THE AUDIT & COMPLIANCE COMMITTEE. EACH MEMBER OF THE BOARD OF TRUSTEES RECEIVES AN EMAIL (1) PROVIDING THE TRUSTEE WITH ACCESS TO A COMPLETE COPY OF THE RETURNS THROUGH A WEBSITE ACCESSIBLE TO THE TRUSTEES AND (2) INFORMING EACH TRUSTEE THAT THE RETURNS ARE AVAILABLE FOR FURTHER REVIEW BY ANY BOARD MEMBER AND THAT THE RETURNS WILL BE FILED BY THE DUE DATE. FORM 990, PART VI, SECTION B, LINE 12C THE COLLEGE REQUIRES ALL TRUSTEES, OFFICERS, KEY EMPLOYEES AND SUBSTANTIAL CONTRIBUTORS TO ANNUALLY COMPLETE THE CONFLICT OF INTEREST QUESTIONNAIRE CONCERNING TRANSACTIONS WITH COE COLLEGE. THE CHIEF FINANCIAL OFFICER FOR THE COLLEGE RECEIVES COMPLETED QUESTIONNAIRES AND REVIEWS AND SUBMITS COMMENTS AND FINDINGS TO THE PRESIDENT OF THE COLLEGE AND THE CHAIRMAN OF THE BOARD OF TRUSTEES. THE CHAIRMAN OF THE BOARD THEN REVIEWS AND INFORMS THE FULL BOARD OF ANY ISSUES OR ACTIONS REQUIRED INCLUDING MONITORING WITH AN OVERSIGHT COMMITTEE IF NECESSARY. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION FOR THE PRESIDENT IS REVIEWED AND DETERMINED BY THE BOARD OF TRUSTEES COMPENSATION COMMITTEE. THE COMMITTEE CONSIDERS THE PRESIDENT ON HIS MERITS, LENGTH OF SERVICE AND JOB RESPONSIBILITIES. THE PRESIDENT'S COMPENSATION IS THEN COMPARED TO SIMILAR POSITIONS AT OTHER COLLEGES USING SURVEYS AND BENCHMARKS FROM THE ACM (ASSOCIATED COLLEGES OF THE MIDWEST), IAICU (IOWA ASSOCIATION OF INDEPENDENT COLLEGES & UNIVERSITIES) AND OTHER IDENTIFIED COMPARISON GROUPS. THE COMMITTEE THEN REPORTS TO THE BOARD OF TRUSTEES THEIR DUE DILIGENCE THAT WAS PERFORMED AND DOCUMENTS THE REVIEW. THE DOCUMENTATION REGARDING THE COMPENSATION REVIEW IS RETURNED TO THE COLLEGE'S LEGAL COUNSEL FOR SAFEKEEPING. THE LAST COMPENSATION REVIEW HELD FOR THE PRESIDENT WAS IN 2026. FORM 990, PART VI, SECTION B, LINE 15B: THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES EVALUATES SPECIFIC COMPENSATION RELATED ISSUES FOR OTHER OFFICERS AND KEY EMPLOYEES WHEN REFERRED TO IT BY THE PRESIDENT. DECISIONS REGARDING THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES ARE OTHERWISE MADE BY THE PRESIDENT, WITH THE INVOLVEMENT OF THE HUMAN RESOURCES DEPARTMENT AND SENIOR LEADERSHIP, TAKING INTO CONSIDERATION JOB RESPONSIBILITIES, PERFORMANCE AND A REVIEW OF COMPENSATION DATA FOR SIMILAR POSITIONS AT IDENTIFIED COMPARISON GROUPS OF OTHER COLLEGES. SUCH COMPENSATION DECISIONS ARE FULLY DOCUMENTED AND COMMUNICATED IN ANNUAL PERFORMANCE REVIEWS. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENT ARE NOT MADE AVAILABLE TO THE PUBLIC. THE COLLEGE DOES FILE VARIOUS REQUIRED REPORTS SUCH AS THE A-133 AND AUDITED FINANCIAL STATEMENTS WITH VARIOUS GOVERNMENTAL AGENCIES AND AUTHORITIES WHICH MAY THEN BECOME A PUBLIC RECORD. THE IRS FORM 990 FILED BY COE COLLEGE IS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 193,962. MANAGEMENT AND GENERAL EXPENSES 400,969. TOTAL EXPENSES 594,931. FORM 990, PART XI, LINE 9: ADJUSTMENT OF NET ASSETS FOR FACULTY RETIREMENT PLAN -53,067. CHANGE IN FAIR MARKET VALUE, INTEREST RATE SWAPS -696,493. CHANGE IN AMOUNTS DUE UNDER ANNUITY AND LIFE INCOME AGREEMENTS -6,440. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED SINCE PRIOR TAX YEARS. K RAYMOND CLARK CHARITABLE TRUST 1220 FIRST AVE NE CEDAR RAPIDS IA 52402 396787527 SUPPORTING TRUST IA 501(C)(3) 12A COE COLLEGE 1 K RAYMOND CLARK ATHLETIC FACILITIES TRUST 1220 FIRST AVE NE CEDAR RAPIDS IA 52402 396787027 SUPPORTING TRUST IA 501(C)(3) 12A COE COLLEGE 1 K RAYMOND CLARK ALUMNI CENTER TRUST 1220 FIRST AVE NE CEDAR RAPIDS IA 52402 396787028 SUPPORTING TRUST IA 501(C)(3) 12A COE COLLEGE 1 K RAYMOND CLARK RACQUET CENTER TRUST 1220 FIRST AVE NE CEDAR RAPIDS IA 52402 396787026 SUPPORTING TRUST IA 501(C)(3) 12A COE COLLEGE 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 K RAYMOND CLARK ALUMNI CENTER TRUST C 112477 ACTUAL K RAYMOND CLARK ALUMNI CENTER TRUST Q 5175 ACTUAL K RAYMOND CLARK ATHLETIC FACILITIES C 221008 ACTUAL K RAYMOND CLARK RACQUET CENTER TRUST C 205437 ACTUAL K RAYMOND CLARK RACQUET CENTER TRUST Q 147939 ACTUAL