2026-05-14T14:28:19-05:00 2025-06-30 991856619 GRANT THORNTON ADVISORS LLC 171 N CLARK ST STE 200 CHICAGO IL 60601 990 2024-07-01 362169145 ELMHURST UNIVERSITY ELMH 6306173400 190 PROSPECT AVENUE ELMHURST IL 601263296 KURT ASHLEY VP FINANCE 6306173012 2026-05-14 1 1 BRIDGET ROCHE P00666837 3128560200 2024 2025-03-06 01:10:19Z DR TROY VANAKEN 190 PROSPECT AVENUE ELMHURST IL 601263296 278092758 0 X WWW.ELMHURST.EDU X 1942 IL ELMHURST UNIVERSITY INSPIRES INTELLECTUAL AND PERSONAL GROWTH IN OUR (CONTINUED IN SCHEDULE O) STUDENTS, PREPARING THEM FOR MEANINGFUL AND ETHICAL CONTRIBUTIONS TO A DIVERSE, GLOBAL SOCIETY.FORM 990, PART V, LINE 1A:THE TOTAL ON THIS LINE DOES NOT INCLUDE 4,808 FORM 1098-T'S, WHICH THE UNIVERSITY IS REQUIRED TO FILE WITH THE IRS AND PROVIDE TO ITS U.S. PERSON STUDENTS. 40 39 1739 223 171164 40763 5057279 24493869 135295179 145060720 10244886 7202846 2034076 918916 152631420 177676351 65128806 71530988 0 0 52463506 53311204 0 0 1205469 28007541 28407407 145599853 153249599 7031567 24426752 293306280 336620094 78593040 88623708 214713240 247996386 ELMHURST UNIVERSITY INSPIRES INTELLECTUAL AND PERSONAL GROWTH IN OUR STUDENTS, PREPARING THEM FOR MEANINGFUL AND ETHICAL CONTRIBUTIONS TO A DIVERSE, GLOBAL SOCIETY. 0 0 69576738 71530988 136934855 INSTRUCTION - ELMHURST UNIVERSITY PROVIDES POST-SECONDARY EDUCATION THROUGH APPROXIMATELY 28 ACADEMIC DEPARTMENTS AND OFFERS MORE THAN 70 UNDERGRADUATE MAJORS, 17 PRE-PROFESSIONAL PROGRAMS AND A FULL ARRAY OF GRADUATE PROGRAMS, INCLUDING 1 DOCTORAL PROGRAM. IN ADDITION, THE ELMHURST LEARNING AND SUCCESS ACADEMY OFFERS A NON-DEGREE PROGRAM FOR YOUNG ADULTS WITH LEARNING, INTELLECTUAL, COGNITIVE, PHYSICAL, AND/OR SENSORY DISABILITIES.SCHOLARSHIPS AND GRANTS - WE ASSIST OUR STUDENTS WITH A COMPREHENSIVE RANGE OF FINANCIAL AID PROGRAMS, INCLUDING INSTITUTIONAL MERIT-BASED SCHOLARSHIPS, INSTITUTIONAL AND GOVERNMENTAL NEED-BASED GRANTS. APPROXIMATELY 100% OF THE FULL TIME UNDERGRADUATE STUDENTS WHO ENTERED THE UNIVERSITY IN THE FALL RECEIVED SUCH SCHOLARSHIPS AND GRANTS. 46855953 7922208 STUDENT SERVICES - INCLUDES STUDENT AFFAIRS, ADMISSIONS, REGISTRAR, FINANCIAL AID COUNSELING, SOCIAL AND CULTURAL DEVELOPMENT, WELLNESS CENTER, AND ATHLETICS. STUDENT LIFE AT ELMHURST IS ACTIVE AND CREATIVE ALLOWING STUDENTS TO GET INVOLVED IN DIVERSE AREAS INCLUDING STUDENT GOVERNMENT, 'THE LEADER' STUDENT NEWSPAPER, BLACK STUDENT UNION, HABITAT FOR HUMANITY, QUEER STRAIGHT ALLIANCE, LATINO STUDENT ASSOCIATION, MODEL UN, WRSE RADIO STATION, AND MANY OTHER GROUPS AS WELL AS INTERCOLLEGIATE SPORTS AND INTRAMURAL ACTIVITIES. 15185326 203657 ACADEMIC SUPPORT - ACADEMIC DEAN, LIBRARY SERVICES, ACADEMIC ADVISING AND ACADEMIC COMPUTING ARE INCLUDED IN ACADEMIC SUPPORT. THE A.C. BUEHLER LIBRARY PROVIDES MANY TECHNOLOGICALLY ADVANCED SERVICES FOR INSTRUCTIONAL AND INFORMATIONAL RESEARCH, OR FOR PERSONAL ENJOYMENT WITH WIRELESS ACCESS THROUGHOUT. 131618017 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 1 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 283 0 1 1739 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 40 39 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X GINA PATTEN 6306173327 190 PROSPECT AVENUE ELMHURST IL 601263296 DR TROY D VANAKEN PRESIDENT 50.00 0.00 X X 665205 0 154866 HUGH H MCLEAN CHAIR 2.00 0.00 X X 0 0 0 JULIUS WESLEY BECTON III VICE CHAIR 2.00 0.00 X X 0 0 0 SERGIO E ACOSTA TRUSTEE 1.00 0.00 X 0 0 0 LESLIE BANKS TRUSTEE 1.00 0.00 X 0 0 0 BRIAN BLAHA TRUSTEE 2.00 0.00 X 0 0 0 MARY SCHALLER BLAUFUSS TRUSTEE 1.00 0.00 X 0 0 0 SUSAN BOWERS TRUSTEE 2.00 0.00 X 0 0 0 WILLIAM CANADY TRUSTEE EMERITI 2.00 0.00 X 0 0 0 FRANK CERRONE TRUSTEE 1.00 0.00 X 0 0 0 SARAH CLARIN TRUSTEE 1.00 0.00 X 0 0 0 JULIE CURRAN TRUSTEE 2.00 0.00 X 0 0 0 KENT T DAHLGREN TRUSTEE 2.00 0.00 X 0 0 0 DR CATHY DOUCETTE TRUSTEE 1.00 0.00 X 0 0 0 LIZ DUDEK TRUSTEE 2.00 0.00 X 0 0 0 MARICELA GUZMAN TRUSTEE 2.00 0.00 X 0 0 0 L BERNARD JAKES TRUSTEE 1.00 0.00 X 0 0 0 STEVEN JEMISON TRUSTEE 1.00 0.00 X 0 0 0 RAJEEV KHANNA TRUSTEE 1.00 0.00 X 0 0 0 GRANT KIEF TRUSTEE 1.00 0.00 X 0 0 0 ALFRED N KOPLIN TRUSTEE 2.00 0.00 X 0 0 0 MICHELLE LANTER SMITH TRUSTEE 1.00 0.00 X 0 0 0 BARBARA J LUCKS TRUSTEE 1.00 0.00 X 0 0 0 JOANN M MCGUINESS TRUSTEE 1.00 0.00 X 0 0 0 EDWARD J MOMKUS TRUSTEE 2.00 0.00 X 0 0 0 JUDY MORLEY TRUSTEE 1.00 0.00 X 0 0 0 DAVID MOULTHROP TRUSTEE 2.00 0.00 X 0 0 0 BILL NELSON TRUSTEE 2.00 0.00 X 0 0 0 JUDITH A PAICE TRUSTEE 2.00 0.00 X 0 0 0 PAULA PFORZHEIMER TRUSTEE 2.00 0.00 X 0 0 0 ROSIE PHILLIPS DAVIS TRUSTEE 1.00 0.00 X 0 0 0 VIRGINIA PORCHASKA TRUSTEE 2.00 0.00 X 0 0 0 HAROLD RICE TRUSTEE 1.00 0.00 X 0 0 0 NATHAN RICHEY TRUSTEE 1.00 0.00 X 0 0 0 FRANK RUFFOLO TRUSTEE 2.00 0.00 X 0 0 0 EVA W TAMELING TRUSTEE 2.00 0.00 X 0 0 0 REV ROBERT O ULLMAN TRUSTEE 2.00 0.00 X 0 0 0 JOAN VILIM TRUSTEE 1.00 0.00 X 0 0 0 MICHAEL WAGNER TRUSTEE 2.00 0.00 X 0 0 0 THE HONORABLE KEVIN L YORK TRUSTEE 1.00 0.00 X 0 0 0 KURT ASHLEY VP IO (THRU 5/25) VP FIN (AS OF 6/25) 50.00 0.00 X 233860 0 53112 JULIE SUDERMAN VP OF FINANCE (THRU 12/2024) 50.00 0.00 X 244005 0 62616 DEAN PRIBBENOW VP ACADEMIC AFFAIRS 50.00 0.00 X 207853 0 44453 PHILLIP RIORDAN VP STUDENT AFFAIRS 50.00 0.00 X 196289 0 59022 SIAW-PENG WAN PROFESSOR OF BUSINESS ADMINISTRATION 50.00 0.00 X 157271 0 30925 DIANE SALVADOR EXECUTIVE DIRECTOR OF NURSING 50.00 0.00 X 202913 0 23646 BRUCE KING VP, EQUITY & INCLUSION (THRU 06/2024) 50.00 0.00 X 189922 0 25758 CHRISTINE GRENIER VP ADMISSIONS 50.00 0.00 X 195974 0 15336 DEBRA LUKEHART EXEC. DIR. OF MKTNG & COMMUNICATION 50.00 0.00 X 162421 0 26050 2455713 0 495784 69 0 1 0 KEYPATH EDUCATION LLC STE 400 SCHAUMBURF IL 60173 EDUCATION SERVICES 7580442 COMPASS GROUP USA INC 2400 YORKMONT RD CHARLOTTE NC 28217 FOOD SERVICES 4648469 OLOGIE INC 447 EAST MAIN ST COLUMBUS OH 43215 ADVERTISING 2139542 ABBEY PAVING & SEALCOATING CO INC 1949 COUNTY LINE RD AURORA IL 60502 CONSTRUCTION 439402 BLUE PEAK TENTS 1020 OLYMPIC DR BATAVIA IL 60510 TENT RENTAL SERVICES 135241 6 19240 19222279 5252350 1331227 24493869 STUDENT TUITION & FEES 812900 136934855 136934855 RESIDENCE HALLS 721310 6355516 6355516 STUDENT PROGRAM FEES 900099 851696 851696 STUDENT ACTIVITIES 900099 699948 699948 GRANTS/LOAN ADMIN FEE 812900 202457 202457 16248 16248 145060720 1823582 -2761 1826343 97855 23005 74850 74850 60808 14042 105719188 13984 100353908 0 5365280 13984 5379264 113117 5266147 21239 19240 39494 -18255 -18255 FOOD SERVICE 721310 570657 570657 291664 291664 862321 177676351 145060720 171164 7950598 70690563 70690563 840425 840425 1442927 1125483 294357 23087 39840516 31075603 8127465 637448 2386186 1861225 486782 38179 6730564 5249840 1373035 107689 2911011 2270589 593846 46576 24341 24341 189502 189502 199416 199416 87911 87911 5875643 1320426 4555217 1643449 1281890 335264 26295 2532514 1975361 516633 40520 2058153 1605360 419863 32930 5556 4334 1133 89 2805823 2188542 572388 44893 1522755 1187749 310642 24364 3472408 2708478 708371 55559 3472546 2708586 708399 55561 1300196 1014153 265240 20803 BAD DEBT EXPENSE 765642 597201 156191 12250 BOOKS & PERIODICALS 555768 433499 113377 8892 MEMBERSHIP/SUBSCRIPTION 548205 427600 111834 8771 NON-CAPITAL EQUIPMENT 37736 29434 7698 604 1309843 1021676 267208 20959 153249599 131618017 20426113 1205469 0 0 40790541 49373827 6679260 1231826 715235 875071 2656087 2600205 190693668 107664964 62400341 83028704 179226251 198584774 838565 925687 293306280 336620094 5159610 5914899 2068153 2132417 51841547 71180926 19523730 9395466 78593040 88623708 X 125223114 152665334 89490126 95331052 214713240 247996386 293306280 336620094 X 24426752 14653410 -5625358 -171658 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 177519974 19548415 3881761 7348964 193601187 153997364 2247790 19323839 -1950981 177519974 152576718 887110 6442647 5909106 153997364 155413572 4864284 -2870379 4830759 152576718 108660467 12437832 38541917 4226644 155413572 0.55530 0.38730 0.05740 0 0 3155455 3155455 113240834 74808901 38431933 19909976 18286109 1623867 54387403 14569954 39817449 83028704 COMMINGLED FUNDS 143056823 F LIMITED PARTNERSHIPS 55527951 F 198584774 INTEREST RATE SWAP AGREEMENT 4295740 ASSET RETIREMENT OBLIGATION 1088726 LIFE INCOME AGREEMENTS PAYABLE 73888 OTHER LIABILITIES 3937112 9395466 X 115790648 14653410 -76513701 -61860291 177650939 87911 -62499 25412 177676351 82533625 62499 62499 82471126 87911 70690562 70778473 153249599 PART III, LINE 1A: FINANCIAL STATEMENT FOOTNOTE PURCHASES OF LIBRARY BOOKS ARE CAPITALIZED BASED ON THE INDIVIDUAL BOOK COST COMPARED TO THE CAPITALIZATION POLICY. THE LIBRARY BOOKS NOT CAPITALIZED ARE RECORDED AS EXPENSES. WORKS OF ART ARE CAPITALIZED IF THE COST OR FAIR MARKET VALUE IS KNOWN AT THE TIME OF RECEIPT OR PURCHASE, PER THE CAPITALIZATION POLICY. PART III, LINE 4: DESCRIPTION OF ORGANIZATION'S COLLECTIONS THE AFRICAN COLLECTIONS, PROFESSIONAL COLLECTIONS AND HISTORIC PORTRAIT COLLECTIONS OF PAINTINGS, DRAWINGS, LITHOGRAPHS, PHOTOGRAPHS, AND SCULPTURES ARE MADE AVAILABLE TO STUDENTS, FACULTY AND STAFF AND OUTSIDE CONSTITUENTS FOR THEIR EDUCATIONAL VALUE, FOR LECTURES AND PLEASURES OF VIEWING. PART V, LINE 4: INTENDED USES OF ENDOWMENT FUNDS THE PURPOSE OF THE ENDOWMENT IS TO SUPPORT THE UNIVERSITY AND ITS MISSION OVER THE LONG TERM. ACCORDINGLY, THE PRIMARY INVESTMENT OBJECTIVES OF THE ENDOWMENT ARE TO: A. PRESERVE AND INCREASE LONG-TERM REAL PURCHASING POWER OF THE FUND'S PRINCIPAL. B. PROVIDE ONGOING FINANCIAL SUPPORT IN THE FORM OF SCHOLARSHIPS, AWARDS, FACULTY CHAIRS, LECTURESHIPS, BOOK FUNDS AND OTHER SPECIFIED PURPOSES IN ACCORDANCE WITH THE BOARD OF TRUSTEE'S INVESTMENT POLICIES AND DONOR RESTRICTED AGREEMENTS. C. PROVIDE A STABLE SOURCE OF FINANCIAL SUPPORT FOR THE UNIVERSITY'S ANNUAL OPERATING BUDGET POLICY AS SET BY THE BOARD OF TRUSTEES. D. ACHIEVE A LONG RETURN ON THE PORTFOLIO OF THE GREATER OF 7% OR 5% PLUS THE AVERAGE CHANGE IN THE CONSUMER PRICE INDEX OVER THE PRIOR FIVE YEARS. PART X, LINE 2: LIABILITY FOR UNCERTAIN TAX POSITION (ASC 740) THE UNIVERSITY HAS RECEIVED A FAVORABLE DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE STATING THAT IT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, EXCEPT FOR INCOME TAXES PERTAINING TO UNRELATED BUSINESS INCOME. THE FASB ISSUED GUIDANCE THAT REQUIRES TAX EFFECTS FROM UNCERTAIN TAX POSITIONS TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS ONLY IF THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. MANAGEMENT HAS DETERMINED THERE ARE NO MATERIAL UNCERTAIN POSITIONS THAT REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS. THE UNIVERSITY HAS ACCRUED A MODEST PROVISION FOR FEDERAL INCOME TAXES AND VARIOUS STATE INCOME TAXES. THE UNIVERSITY HAS HAD NO SIGNIFICANT UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JUNE 30, 2025 AND 2024. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN ACTUARIAL VALUE OF SPLIT-INTEREST TRUSTS 211,669. SCHOLARSHIP AND GRANTS -70,690,562. CHANGE IN VALUE OF INTEREST-RATE SWAP -383,327. PLEDGES OFFSET -5,651,481. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE -39,494. RENTAL EXPENSE -23,005. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE 39,494. RENTAL EXPENSE 23,005. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP AND GRANTS 70,690,562. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 ELMHURST UNIVERSITY POLICY IS THAT OF NON-DISCRIMINATION OF THE PUBLIC SERVED BY THE INSTITUTION AND WITH RESPECT TO THE UNIVERSITY PERSONNEL. ADVERTISEMENTS, PUBLICATIONS, BROCHURES, APPLICATIONS FOR ADMISSION, ETC., CONTAIN A STATEMENT TO THE EFFECT THAT THE UNIVERSITY COMPLIES WITH THE FEDERAL NON-DISCRIMINATION REGULATIONS, AND THEREBY DOES NOT DISCRIMINATE ON THE BASIS OF RACE, GENDER, RELIGION, COLOR, NATIONAL ORIGIN, AGE, SEXUAL ORIENTATION, OR HANDICAP DISABILITY. SCHEDULE E, PART I, LINE 6 GOVERNMENT ASSISTANCE THE UNIVERSITY RECEIVES GOVERNMENTAL FINANCIAL AID, GRANTS AND ASSISTANCE FROM THE US DEPARTMENT OF EDUCATION, STATE OF ILLINOIS, AND THE LOCAL GOVERNMENT. 1 SOUTH ASIA 0 0 GRANTMAKING INTERNATIONAL EDUCATION 525233 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTMAKING INTERNATIONAL EDUCATION 190959 EAST ASIA AND THE PACIFIC 0 0 GRANTMAKING INTERNATIONAL EDUCATION 76492 SUB-SAHARAN AFRICA 0 0 GRANTMAKING INTERNATIONAL EDUCATION 28923 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTMAKING INTERNATIONAL EDUCATION 18818 0 0 0 0 0 0 840425 0 840425 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM STUDY ABROAD 190959 WIRE TRANSFER 0 SOUTH ASIA STUDY ABROAD 525233 WIRE TRANSFER 0 MIDDLE EAST AND NORTH AFRICA STUDY ABROAD 18818 WIRE TRANSFER 0 EAST ASIA AND THE PACIFIC STUDY ABROAD 76492 WIRE TRANSFER 0 SUB-SAHARAN AFRICA STUDY ABROAD 28923 WIRE TRANSFER 0 1 0 0 1 0 0 PART I, LINE 2: THE STUDY ABROAD DEPARTMENT MANAGES PROGRAM AND CONTRACTUAL TERMS OF PERFORMANCE, INCLUDING SELECTING CREDENTIALED UNIVERSITIES, AND OBTAINS STUDENT COMPLETION DOCUMENTATION. THERE ARE A FEW PROGRAMS IN WHICH OUR UNIVERSITY SENDS STUDENTS OVERSEAS FOR A SEMESTER AND INCURS AN EXPENSE FROM THE RECEIVING UNIVERSITY. THE MAJORITY OF STUDY ABROAD INSTANCES ARE WITHIN CONTRACTUAL EXCHANGE ARRANGEMENTS WITHIN A NETWORK OF INTERNATIONAL UNIVERSITIES AND DICTATED BY CONTRACTUAL TERMS IN WHICH NO MONEY IS EXCHANGED. THE NUMBER OF STUDENTS WHO ARE ENROLLED AT NETWORK UNIVERSITIES AND STUDY AT OUR CAMPUS FOR 1 OR 2 SEMESTERS IS EQUIVALENT TO THE AMOUNT OF OUR STUDENTS STUDYING ABROAD. PART I, LINE 3, COLUMN (F) AND PART II, LINE 1: THE UNIVERSITY ACCOUNTS FOR EXPENDITURES AND CASH GRANTS USING THE ACCRUAL METHOD. BLUEJAY BACKER GOLF OUTING 40479 19240 21239 500 9786 29208 40479 19240 21239 500 9786 29208 39494 -18255 1 SEOG FED SUPPLEMENTAL GRANT 444 403500 0 ENDOWED SCHOLARSHIPS 486 1577698 0 DONOR FUNDED SCHOLARSHIPS 104 470683 0 INSTITUTIONALLY FUNDED 3749 68238682 0 PART I, LINE 2: PROCEDURE FOR MONITORING THE USE OF GRANT FUNDS INSIDE THE U.S. THE UNIVERSITY OFFERS A WIDE VARIETY OF MERIT AND NEED-BASED SCHOLARSHIPS AND AWARDS TO MATRICULATING STUDENTS. MERIT AWARDS ARE GIVEN IN RECOGNITION OF VARIOUS ACHIEVEMENTS AS SPECIFIED IN DONORS' CORRESPONDENCE AND DOCUMENTS, OR BY UNIVERSITY POLICY. NEED-BASED AWARDS ARE PROVIDED BASED ON THE INCOME LEVEL, AVAILABILITY OF AWARDS OFFERED ELSEWHERE AND SIMILAR STANDARDS. THE UNIVERSITY'S FINANCIAL AID OFFICE USES VARIOUS METHODS FOR THE FAIR DISBURSEMENT OF GRANT FUNDS WITHIN THE REQUIREMENTS SET BY EACH GRANT SOURCE TO MONITOR COMPLIANCE. THE UNIVERSITY PRIMARILY MAKES SCHOLARSHIP GRANTS THAT HELP OFFSET TUITION AND OTHER EDUCATIONAL COSTS OF THE STUDENTS, WITH MOST DIRECTLY CREDITED AGAINST THE APPLICABLE STUDENT ACCOUNT, WHICH ASSURES PROPER USE. THE AMOUNT OF THE GRANT IS ADJUSTED BY THE FINANCIAL AID OFFICE, AS NECESSARY, BASED ON ANY SUBSEQUENT CHANGES AFFECTING THE STUDENT'S ORIGINAL ELIGIBILITY. X X X X 1 1 X X X X X 1 1 0 0 0 0 0 1 0 DR TROY D VANAKEN PRESIDENT 479605 0 145177 0 40423 0 49876 0 104990 0 820071 0 91250 0 JULIE SUDERMAN VP OF FINANCE (THRU 12/2024) 219892 0 0 0 24113 0 42368 0 20248 0 306621 0 0 0 KURT ASHLEY VP IO (THRU 5/25) VP FIN (AS OF 6/25 227660 0 5750 0 450 0 42304 0 10808 0 286972 0 0 0 PHILLIP RIORDAN VP STUDENT AFFAIRS 191059 0 3250 0 1980 0 16495 0 42527 0 255311 0 0 0 DEAN PRIBBENOW VP ACADEMIC AFFAIRS 197639 0 3250 0 6964 0 33893 0 10560 0 252306 0 0 0 DIANE SALVADOR EXECUTIVE DIRECTOR OF NURSING 200488 0 750 0 1675 0 13285 0 10361 0 226559 0 0 0 BRUCE KING VP, EQUITY & INCLUSION (THRU 06/2024 84341 0 750 0 104831 0 15661 0 10097 0 215680 0 0 0 CHRISTINE GRENIER VP ADMISSIONS 183600 0 5750 0 6624 0 14688 0 648 0 211310 0 0 0 DEBRA LUKEHART EXEC. DIR. OF MKTNG & COMMUNICATION 160660 0 750 0 1011 0 13120 0 12930 0 188471 0 0 0 SIAW-PENG WAN PROFESSOR OF BUSINESS ADMINISTRATION 155721 0 750 0 800 0 10891 0 20034 0 188196 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE THE PRESIDENT IS BEING PROVIDED A HOUSE AS A CONVENIENCE TO THE UNIVERSITY AT 360 COTTAGE HILL AVENUE IN ELMHURST. THIS ALLOWS THE INDIVIDUAL TO CONDUCT BUSINESS AFFAIRS AND BE AVAILABLE TO RESPOND TO EMERGENT SITUATIONS THAT MAY ARISE. AS A CONDITION OF EMPLOYMENT, THE PRESIDENT OF ELMHURST UNIVERSITY IS REQUIRED TO RESIDE AT THE RESIDENCE THAT ALSO SERVES AS A VENUE TO CARRY OUT REGULAR UNIVERSITY BUSINESS INCLUDING ENTERTAINMENT OF TRUSTEES, EMPLOYEES, STUDENTS, DONORS, AND GUESTS OF THE UNIVERSITY. IRS FORM 990 INSTRUCTIONS REQUIRE THAT THE FAIR MARKET VALUE OF HOUSING PROVIDED TO EMPLOYEES BE REPORTED ON FORM 990, PART VII, SECTION A, COLUMN (D) AND SCHEDULE J, PART II, COLUMN (D) AS A NONTAXABLE BENEFIT. FOR TAX YEAR 2025 THE VALUE OF THE RESIDENCE IS CONSERVATIVELY ESTIMATED TO BE $84,084. THE UNIVERSITY HAS DETERMINED THAT THE VALUE OF THE HOUSING IS NOT CONSIDERED TAXABLE INCOME TO THE PRESIDENT DR. TROY D. VANAKEN AS PROVIDED FOR IN INTERNAL REVENUE CODE SECTION 119. DURING TAX YEAR 2025, THE PRESIDENT MADE THE RESIDENCE THEIR HOME FOR THE ENTIRE FISCAL YEAR. SCHEDULE J, PART II, COLUMN (D) INCLUDES $84,084 OF VALUE ASSOCIATED WITH THE USE OF THE RESIDENCE PROVIDED BY THE UNIVERSITY. TRAVEL FOR COMPANIONS TRAVEL EXPENSE REIMBURSEMENT FOR COMPANIONS IS ONLY ALLOWED FOR THE PRESIDENT AS PER HIS CONTRACT. ACCORDING TO HIS CONTRACT, WHEN DR. TROY D. VANAKEN'S SPOUSE IS REQUIRED TO ATTEND AN EVENT IN WHICH DR. VANAKEN IS REPRESENTING THE UNIVERSITY ON OFFICIAL UNIVERSITY BUSINESS, THE BUSINESS-RELATED TRAVEL EXPENSES FOR DR. VANAKEN'S SPOUSE WILL ALSO BE REIMBURSED BY THE UNIVERSITY. THE SPOUSE'S TRAVEL IS NOT CONSIDERED TAXABLE ONLY WHEN THE PURPOSE IS TO CONDUCT BUSINESS ON BEHALF OF THE UNIVERSITY. THIS CONTRACT IS REVIEWED BY THE HUMAN RESOURCES COMMITTEE AND APPROVED BY THE FULL BOARD OF TRUSTEES. PERSONAL SERVICES (E.G., MAIL, CHAUFFEUR, CHEF) AN OUTSIDE SERVICE IS USED AS NEEDED TO MAINTAIN OR TO PROVIDE ANY OTHER CLEANING SERVICES NECESSARY FOR THE BUSINESS FUNCTION OF THE PRESIDENT'S HOUSE. HEALTH OR SOCIAL CLUB DUES SOCIAL CLUB DUES REIMBURSEMENT IS ALLOWED FOR THE PRESIDENT PER HIS CONTRACT. PART I, LINES 4A-B PART I, LINE 4A: BRUCE KING RECEIVED A SEVERANCE AMOUNT IN CALENDAR YEAR 2024 IN THE AMOUNT OF $89,294 WHICH WAS REPORTED AS TAXABLE COMPENSATION ON HIS W-2. PART I, LINE 4B: THE FOLLWOING INDIVIDUALS LISTED ON FORM 990, PART VII, LINE 1A PARTICIPATED IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN AND HAD THE FOLLOWING AMOUNTS ACCRUED IN CALENDAR YEAR 2024 PURSUANT TO THE PLAN. - KURT ASHLEY: $24,000 - BRUCE KING: $7,500 - DEAN PRIBBENOW: $18,000 - JULIE SUDERMAN: $22,917 - DR. TROY D. VANAKEN: $22,276 PART I, LINE 7 UPON DISCRETION AND APPROVAL, PERFORMANCE-BASED BONUSES MAY BE AWARDED. FOR THE PRESIDENT, THIS IS DETERMINED BY THE BOARD. FOR ALL OTHERS, THIS IS DETERMINED BY THE PRESIDENT WITHIN BOARD APPROVED BUDGET LIMITATIONS. THESE BONUSES WERE NOT INCLUDED IN THE INDIVIDUALS COMPENSATION PACKAGE. A ILLINOIS FINANCE AUTHORITY 861091967 000000000 2016-12-13 20200000 REFUNDING OF 1998 AND 1999 BONDS 0 0 0 B ILLINOIS FINANCE AUTHORITY 861091967 000000000 2017-12-27 37160000 REFUNDING OF 2003 AND 2007 BONDS 0 0 0 C ILLINOIS FINANCE AUTHORITY 861091967 000000000 2022-08-25 20000000 IMPROVEMENTS OF EDUCATIONAL FACILITIES 0 0 0 A 20200000 200000 20000000 1 0 0 1 B 37160000 260000 36900000 2010 1 0 1 1 C 20000000 51000 19949000 0 0 0 1 A 0 0 0 0 1 0 1 B 0 0 1 1 0 0.03200 0.03200 1 0 1 C 0 0 0 0 1 0 1 A 0 1 0 1 1 1 PNC BANK 16.000000000000 0 0 0 0 1 B 0 0 1 0 1 1 BANK OF AMERICA 24.000000000000 0 1 0 0 1 C 0 1 0 0 1 0 0 0 1 A 1 B 1 C 1 SCHEDULE K, PART I, COLUMN (F), LINE B: THE BONDS WERE ISSUED TO (I) CURRENTLY REFUND AND REDEEM ALL OF THE OUTSTANDING SERIES 2003 AND 2007 ELMHURST UNIVERSITY BONDS (II) CURRENTLY REFUND AND REDEEM ALL OF THE OUTSTANDING 2003 AND 2007 ELMHURST UNIVERSITY BONDS, AND (III) FINANCE OR REIMBURSE THE UNIVERSITY FOR CERTAIN COSTS INCURRED IN CONNECTION WITH THE ISSUANCE OF THE BOND AND CURRENT REFUNDING REDEMPTION OF THE REFUNDED BONDS. SCHEDULE K, PART IV, COLUMN (A), LINE 2C: REBATE COMPUTATION PERFORMED 5/26/2017. SCHEDULE K, PART I, COLUMN (F), LINE C: ON AUGUST 25, 2022, THE UNIVERSITY EXECUTED A $20,000,000 MAXIMUM PRINCIPAL AMOUNT REVENUE BOND, SERIES 2022, ISSUED BY THE ILLINOIS FINANCE AUTHORITY. AN INITIAL ADVANCE OF $51,000 WAS TAKEN AT CLOSING TO PAY A PORTION OF THE COSTS OF ISSUANCE. THE REMAINING $19,949,000 OF THE PURCHASE PRICE WAS DRAWN IN AUGUST 2024. X 12 1331227 FMV 0 1 0 PART I, LINE 33: ELMHURST UNIVERSITY IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE CONSISTS OF THE CHAIR AND VICE CHAIR OF THE BOARD OF TRUSTEES; THE PRESIDENT OF THE UNIVERSITY; THE CHAIRS OF THE BUSINESS AND FINANCE, INSTITUTIONAL ADVANCEMENT, AND ACADEMIC AFFAIRS COMMITTEES; THE TRUSTEE WHO IS THE IMMEDIATE PAST CHAIR OF THE BOARD OF TRUSTEES; AND TWO TRUSTEES WHO SERVE AS AT LARGE MEMBERS OF THE COMMITTEE. THE AT LARGE MEMBERS WILL BE RECOMMENDED BY THE TRUSTEESHIP COMMITTEE TO THE BOARD FOR APPROVAL AND WILL SERVE A TERM OF TWO YEARS ON A ROTATING BASIS. THE CHAIR OF THE BOARD OF TRUSTEES MAY DESIGNATE ANY TRUSTEE WHO IS NOT A MEMBER OF THE EXECUTIVE COMMITTEE TO SERVE AS A MEMBER OF THE EXECUTIVE COMMITTEE AT ANY SPECIFIED MEETING OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL BE RESPONSIBLE FOR THE PERIODIC REVIEW AND ASSESSMENT OF THE PRESIDENT. THE EXECUTIVE COMMITTEE SHALL SERVE AS A SALARY REVIEW AND PERSONNEL COMMITTEE AND AS A FINAL REVIEWING COMMITTEE FOR GRIEVANCES, AND SHALL CONSIDER CONFIDENTIAL MATTERS BROUGHT BY INDIVIDUAL TRUSTEES. THE EXECUTIVE COMMITTEE SHALL ACT FOR THE BOARD BETWEEN REGULAR SESSIONS OF THE BOARD IN SUCH MATTERS AS IN THE JUDGMENT OF THE CHAIR OF THE EXECUTIVE COMMITTEE SHALL REQUIRE IMMEDIATE ACTION, WITH SUCH ACTIONS SUBJECT TO RATIFICATION AND REVIEW OF THE BOARD, AND SHALL TRANSACT OTHER BUSINESS AS MAY BE COMMITTED TO IT BY THE BOARD. THE EXECUTIVE COMMITTEE SHALL SERVE AS A PLANNING COMMITTEE, MONITOR THE PLANNING AS PRESENTED ANNUALLY BY THE PRESIDENT, PROVIDE STRATEGIC OVERVIEW AND OVERSIGHT OF COMMITTEE ACTIVITIES RELATING TO SUCH PLANS, AND RECOMMEND TO THE BOARD OF TRUSTEES THE INSTITUTIONAL PLANS THAT ARE IN THE BEST INTEREST OF THE UNIVERSITY. THE COMMITTEE MAY INVITE OTHER MEMBERS OF THE BOARD OF TRUSTEES TO ATTEND A MEETING OF THE EXECUTIVE COMMITTEE WITH A VOICE BUT NOT A VOTE. FORM 990, PART VI, SECTION A, LINE 2 THE FOLLOWING INDIVIDUALS HAVE A BUSINESS RELATIONSHIP OTHER THAN THEIR RELATIONSHIP AS TRUSTEES TO THE UNIVERSITY: - SERGIO ACOSTA, ED MOMKUS, FRANK CERRONE, MARICELA GUZMAN, JULIUS BECTON FORM 990, PART VI, SECTION B, LINE 11B THE FINAL REVIEW FORM 990 AND ITS VARIOUS SCHEDULES WERE PREPARED BY A NATIONAL CPA FIRM, AND THEN WERE REVIEWED BY THE KEY OFFICERS OF THE ORGANIZATION PRIOR TO MAKING IT AVAILABLE TO THE BOARD OF TRUSTEES. AFTER THE KEY OFFICERS REVIEWED THE FORM, IT WAS DISTRIBUTED TO THE AUDIT COMMITTEE OF THE TRUSTEES AT THEIR SPRING MEETING. IDENTIFIED NECESSARY CHANGES WERE INCORPORATED FOLLOWING THE BOARD REVIEW PROCESS AND A FINAL COPY OF THE FILING WAS MADE AVAILABLE TO ALL MEMBERS OF THE BOARD OF TRUSTEES PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST FORMS ARE SENT TO TRUSTEES, OFFICERS, KEY EMPLOYEES (AS APPLICABLE) AND OTHERS FOR COMPLETION. THE COMPLETED FORMS ARE RETURNED TO AND REVIEWED BY THE BOARD AUDIT COMMITTEE CHAIR. THE AUDIT COMMITTEE CHAIR TOGETHER WITH THE AUDIT COMMITTEE IS RESPONSIBLE FOR ADMINISTRATION OF THIS POLICY. MATTERS OF CONCERN ARE BROUGHT TO THE CHAIR OF THE BOARD OF TRUSTEES OR THE PRESIDENT. APPROVAL OF COMPENSATION TRANSACTIONS AND OTHER TRANSACTIONS COVERED BY THE POLICY ARE DONE THROUGH A REVIEW COMPOSED ENTIRELY OF INDIVIDUALS WHO DO NOT HAVE ANY CONFLICT OF INTEREST WITH RESPECT TO THE ARRANGEMENT OR TRANSACTION AT HAND. PERSONS DETERMINED TO HAVE A CONFLICT OF INTEREST ARE PROHIBITED FROM PARTICIPATING IN THE GOVERNING BODY'S DELIBERATIONS AND DECISIONS IN TRANSACTIONS WHICH MAY RELATE TO THE CONFLICT. THEY RELY UPON INDEPENDENT COMPARABILITY DATA OR VALUATIONS PRIOR TO MAKING A DETERMINATION. MATTERS RELATED TO COMPENSATION RELY ON EXTERNAL EXPERTISE IN HIGHER EDUCATION. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR DETERMINING PRESIDENT'S COMPENSATION- THE CURRENT PRESIDENT WAS HIRED JULY 1, 2016. THE PRESIDENT'S SALARY AND ANY SUBSEQUENT CHANGES HAVE BEEN APPROVED IN ADVANCE BY THE BOARD OF TRUSTEES WHO DO NOT HAVE A CONFLICT OF INTEREST CONCERNING THIS TRANSACTION. BEFORE THE COMPENSATION WAS DETERMINED (OR ADJUSTED), THE BOARD OF TRUSTEES RELIED UPON COMPARABLE COMPENSATION OF SIMILARLY QUALIFIED PERSONS, SIMILAR POSITIONS, AND SIMILAR ORGANIZATIONS. THE BOARD OF TRUSTEES REVIEW THE PRESIDENT'S SALARY ANNUALLY WHICH MAY BE ADJUSTED, BASED ON THE BOARD'S ASSESSMENT OF THE PRESIDENTS' PERFORMANCE. THE BASIS FOR ANY ADJUSTMENTS ARE ADEQUATELY AND TIMELY DOCUMENTED. TOP MANAGEMENT'S (VICE PRESIDENTS AND DEANS) SALARIES ARE REVIEWED ANNUALLY BY A PROCESS SIMILAR TO ALL OTHER EMPLOYEES. THE PRESIDENT PERFORMS A FORMAL EVALUATION. CONSIDERING THE ANNUAL PERFORMANCE EVALUATION AND THE FINANCIAL CONSTRAINTS OF THE UNIVERSITY, THE PRESIDENT THEN DETERMINES THE SALARY REVISIONS WHICH ARE REVIEWED BY THE HUMAN RESOURCES COMMITTEE OF THE BOARD OF TRUSTEES. ALL OTHER KEY EMPLOYEE SALARIES ARE REVIEWED ANNUALLY BY A SIMILAR PROCESS AS THE TOP MANAGEMENT. FORMAL PERFORMANCE EVALUATIONS ARE PERFORMED BY THE SUPERVISOR OF EACH KEY EMPLOYEE WITH RECOMMENDATIONS FOR SALARY REVISIONS PROVIDED TO THE TOP MANAGEMENT EMPLOYEE OVER THAT AREA OF RESPONSIBILITY. THE EVALUATIONS AND RECOMMENDATIONS TOGETHER WITH THE COMPARISON TO THE CUPA-HR ANNUAL SALARY SURVEY AND THE PRESET BUDGET FOR SALARY INCREASES ARE REVIEWED BY EACH TOP MANAGEMENT ADMINISTRATOR WITH RECOMMENDATIONS PRESENTED TO THE PRESIDENT. FINAL APPROVAL IS GIVEN BY THE PRESIDENT. MINUTES OF THE HUMAN RESOURCES COMMITTEE DOCUMENT THE DETERMINATIONS MADE DURING EXECUTIVE SESSION. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS OF THE UNIVERSITY ARE AVAILABLE UPON REQUEST. THE CONFLICT-OF-INTEREST POLICY AND FINANCIAL STATEMENTS ARE PROVIDED TO VARIOUS STATE AGENCIES, US DEPARTMENT OF EDUCATION, VARIOUS BANKS AND OTHERS PER AGREEMENT. THE CONFLICT-OF-INTEREST POLICY IS SENT ANNUALLY TO ALL MEMBERS OF THE BOARD OF TRUSTEES, OFFICERS, KEY EMPLOYEES AND OTHER IDENTIFIED EMPLOYEES. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST-RATE SWAP -383,327. CHANGE IN ACTUARIAL VALUE OF SPLIT-INTEREST TRUSTS 211,669. 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