2026-04-27T19:19:40-05:00 2025-06-30 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2024-07-01 410711610 UNIVERSITY OF NORTHWESTERN - ST PAUL UNIV 6516315100 3003 SNELLING AVENUE NORTH ST PAUL MN 55113 WADE HOLMBERG SVP FOR FINANCE & CFO 6516315100 2026-04-23 1 0 ANN NEIL P01817922 6123764500 2026-04-23 2024 2025-03-06 01:10:19Z NORTHWESTERN MEDIA DR CORBIN HOORNBEEK 3003 SNELLING AVENUE NORTH ST PAUL MN 55113 139351034 0 X WWW.UNWSP.EDU X 1902 MN WE SEEK TO REACH ALL NATIONS FOR JESUS, THROUGH CHRIST-CENTERED HIGHER EDUCATION AND MEDIA. 24 23 1679 609 492134 256909 37873224 44524812 80530205 78665820 2135982 3162770 522944 629302 121062355 126982704 22747146 24092560 0 0 48659270 49146422 1002860 1133057 4611348 45224763 43267731 117634039 117639770 3428316 9342934 163660933 173045947 25839008 24074907 137821925 148971040 X SEE SCHEDULE O. FOUNDED IN 1902, UNIVERSITY OF NORTHWESTERN - ST. PAUL IS A NONDENOMINATIONAL CHRISTIAN UNIVERSITY THAT INTEGRATES THE EDUCATIONAL PHILOSOPHY OF "FAITH, LEARNING AND LIVING" THROUGH TWO FOCUSES: HIGHER EDUCATION AND MEDIA. THE MISSION OF THE UNIVERSITY IS TO EQUIP BELIEVERS TO GROW INTELLECTUALLY AND SPIRITUALLY, TO SERVE EFFECTIVELY IN THEIR PROFESSIONS, AND TO GIVE GOD-HONORING LEADERSHIP IN THE HOME, CHURCH, COMMUNITY AND WORLD. NORTHWESTERN MEDIA EXISTS TO LEAD PEOPLE TO CHRIST AND TO NURTURE BELIEVERS IN THEIR SPIRITUAL GROWTH THROUGH CHRIST CENTERED MEDIA. 0 0 46591452 23732848 57406438 SEE SCHEDULE O.ACADEMIC INSTRUCTION AND SUPPORT:THE HIGHER EDUCATION FOCUS OFFERS A VAST ARRAY OF OPPORTUNITIES WITHIN A STRONG ACADEMIC PROGRAM. NORTHWESTERN OFFERS MORE THAN 60 AREAS OF STUDY RANGING FROM ELEMENTARY EDUCATION AND PASTORAL STUDIES TO BROADCASTING/ELECTRONIC MEDIA AND PSYCHOLOGY. THE CORE COMPONENT IS THE TRADITIONAL UNDERGRADUATE PROGRAM, WHICH ENROLLS OVER 1,400 STUDENTS. THE COLLEGE OF ADULT & GRADUATE STUDIES, WHICH SERVES AN ADDITIONAL 210 STUDENTS, INCLUDES THE ADULT UNDERGRADUATE PROGRAM AND GRADUATE STUDIES. DUAL ENROLLMENT, INCLUDING PSEO/EARLY COLLEGE AND ONLINE LEARNING TOGETHER SERVE APPROXIMATELY 1,930, BRINGING TOTAL ENROLLMENT TO OVER 3,540 STUDENTS ACROSS ALL VENUES. NORTHWESTERN'S 107-ACRE LAKESIDE CAMPUS IS LOCATED IN SUBURBAN SAINT PAUL, MINNESOTA. NORTHWESTERN IS A COMMUNITY IN WHICH ALL LEARNING IS FRAMED WITHIN THE CONTEXT OF A BIBLICAL WORLDVIEW. STUDENTS WHO ENROLL AS FRESHMAN ARE REQUIRED TO COMPLETE 22 CREDITS OF BIBLE COURSES AS PART OF THEIR CORE CURRICULUM, THEREBY MAKING THEM ELIGIBLE FOR A SECOND MAJOR IN BIBLE FROM THE DEPARTMENT OF BIBLICAL AND THEOLOGICAL STUDIES. DAILY CHAPEL IS AN INTEGRAL PART OF THE TRADITIONAL PROGRAM WHERE STUDENTS HEAR WORLD-RENOWNED SPEAKERS AND PARTICIPATE IN PRAISE AND WORSHIP. NORTHWESTERN'S 36,000-PLUS ALUMNI POSITIVELY IMPACT SOCIETY THROUGH CAREERS IN LAW, EDUCATION, MEDICINE, GOVERNMENT, COMPUTER TECHNOLOGY AND FORTUNE 500 BUSINESSES, AS WELL AS IN MISSIONS, CHURCHES AND PARACHURCH MINISTRIES. 30604257 335324 2473814 SEE SCHEDULE O.NORTHWESTERN MEDIATHE UNIVERSITY BEGAN ITS MEDIA MINISTRY, KNOWN TODAY AS NORTHWESTERN MEDIA, IN 1949. ITS INCEPTION IS ATTRIBUTED TO FORMER NORTHWESTERN PRESIDENT WILLIAM F. BILLY GRAHAM, WHO BEGAN KTIS (LIFE 98.5) RADIO WITH $44,000 GENERATED FROM STUDENT DONATIONS. TODAY, THE UNIVERSITY OWNS AND OPERATES 126 FCC LICENSES THAT ARE LISTENER-SUPPORTED CHRISTIAN RADIO STATIONS, COVERING 14 MARKETS IN MINNESOTA, NORTH AND SOUTH DAKOTA, IOWA, WISCONSIN, MISSOURI, KANSAS, ILLINOIS, INDIANA, NEBRASKA, CONNECTICUT, AND MONTANA WITH A CONSOLIDATED AUDIENCE OF MORE THAN 1,400,000 LISTENERS PER WEEK. NORTHWESTERN MEDIA EXISTS TO LEAD PEOPLE TO CHRIST AND TO NURTURE BELIEVERS IN THEIR SPIRITUAL GROWTH THROUGH CHRIST-CENTERED MEDIA, INCLUDING MAJOR SPONSORSHIP OF CHRISTIAN CONCERTS IN OUR LISTENING AREA. THE UNIVERSITY'S MEDIA MINISTRY REACHES BEYOND THE UNITED STATES THROUGH FINANCIAL AND TECHNOLOGICAL PARTNERSHIPS WITH CHRISTIAN RADIO STATIONS IN BELIZE, ECUADOR, KENYA, GUAM, INDONESIA, MONGOLIA AND THAILAND. 25111527 24388 14025276 SEE SCHEDULE O. STUDENT AND AUXILIARY SERVICES:NORTHWESTERN STUDENTS ARE OFFERED A HOST OF ACADEMIC AND PERSONAL SUPPORT SERVICES AND RESOURCES TO HELP STUDENTS SUCCEED. STUDENT SERVICES INCLUDE DEGREE PLANNING, CAREER DEVELOPMENT, COUNSELING, PERSONAL HEALTH AND WELLNESS, ATHLETICS, MINISTRY OPPORTUNITIES, AND MORE. NORTHWESTERN OFFERS 4 RESIDENCE HALLS THAT ACCOMMODATE THE VARIED NEEDS OF OUR STUDENT POPULATION. DURING THE YEAR 2024-2025, ON-CAMPUS RESIDENTS TOTALED OVER 880 STUDENTS AND DINING SERVICES WERE PROVIDED TO MORE THAN 1,390 STUDENTS VIA OUR CAMPUS DINING PARTNER. OTHER AUXILIARY SERVICES PROVIDED ON CAMPUS INCLUDE TICKETING/EVENTS AND A CAMPUS STORE. 102307236 1 1 0 1 0 0 0 1 0 1 1 0 0 0 1 0 0 1 1 0 1 0 1 1 1 0 0 1 1 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 1 1 0 0 0 1 2387 0 1 1679 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 24 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 AK CO MD MA MI MN NH OH OK OR PA SC WA CA NY X WADE HOLMBERG 6516315100 3003 SNELLING AVE N ST PAUL MN 55113 DR CORBIN HOORNBEEK PRESIDENT 45.00 0.00 X X 333403 0 41040 GROVER SAYRE CHAIR 2.00 0.00 X X 0 0 0 STEWART VAN DUZER SECRETARY 2.00 0.00 X X 0 0 0 REV DR NEAL RICH VICE CHAIR 2.00 0.00 X X 0 0 0 PAUL BIERHAUS TRUSTEE 2.00 0.00 X 0 0 0 DR MARGARET DIDDAMS TRUSTEE 2.00 0.00 X 0 0 0 MEGAN DOYLE TRUSTEE 2.00 0.00 X 0 0 0 MARY EDWARDS TRUSTEE 2.00 0.00 X 0 0 0 STAN ERICKSON TRUSTEE 2.00 0.00 X 0 0 0 GINGER EWING TRUSTEE 2.00 0.00 X 0 0 0 JOHN FULLER TRUSTEE 2.00 0.00 X 0 0 0 LEIGH HARRISON TRUSTEE 2.00 0.00 X 0 0 0 DEBORAH HEDLUND TRUSTEE 2.00 0.00 X 0 0 0 DALYNN HOCH TRUSTEE 2.00 0.00 X 0 0 0 MARK JOHNSON TRUSTEE 2.00 0.00 X 0 0 0 DR GEORGE KENWORTHY TRUSTEE 2.00 0.00 X 0 0 0 CADE LAMBERT TRUSTEE 2.00 0.00 X 0 0 0 LAUREN LIBBY TRUSTEE 2.00 0.00 X 0 0 0 DR RAMON PASTRANO TRUSTEE 2.00 0.00 X 0 0 0 ROBERT RICHERT TRUSTEE 2.00 0.00 X 0 0 0 TOM THOMPSON TRUSTEE 2.00 0.00 X 0 0 0 PHILIP VIERLING TRUSTEE 2.00 0.00 X 0 0 0 TERESA WILLIAMS TRUSTEE 2.00 0.00 X 0 0 0 SUSAN WILSON TRUSTEE 2.00 0.00 X 0 0 0 JOHN SOMMERVILLE VP FOR FINANCE & OPERATIONS/CFO/TREASURER 45.00 0.00 X 156439 0 36208 DR JANET SOMMERS PROVOST/SR. VP FOR ACADEMIC AFFAIRS 45.00 0.00 X 162439 0 35534 JASON SHARP SR. VP FOR MEDIA 45.00 0.00 X 199291 0 35227 SUZANNE HAPPS SENIOR DIRECTOR OF MEDIA MARKETS 45.00 0.00 X 167283 0 21194 SCOTT JONES ASST VP FOR BUS OPS & TECH/MEDIA 45.00 0.00 X 161754 0 33670 DAVID GATTORNA SENIOR DIRECTOR OF MEDIA MARKETS 45.00 0.00 X 150005 0 36939 NINA BARNES VP FOR PEOPLE AND CULTURE 45.00 0.00 X 157592 0 1192 DAVE GORDON SENIOR DIRECTOR OF MEDIA MARKETS 45.00 0.00 X 162510 0 32258 1650716 0 273262 45 0 1 0 BON APPETIT MANAGEMENT COMPANY 1701 AMERICAN BLVD E BLOOMINGTON MN 55425 FOOD SERVICE 3460029 TODD DEXTER & ASSOCIATES LLC 4975 PRESTON PARK BOULEVARD SUITE PLANO TX 75093 DIRECT MAIL 1010383 GRAVITY GLOBAL 333 S 7TH ST 100 MINNEAPOLIS MN 55402 MARKETING/WEBSITE SUPPORT 775579 CLEAR CHANNEL OUTDOOR INC 4830 N LOOP 1604 W SUITE 111 SAN ANTONIO TX 78249 ADVERTISING 687867 PCL CONSTRUCTION SERVICES INC 2000 S COLORADO BLVD SUITE 2-500 DENVER CO 80222 CONSTRUCTION SERVICES 681409 36 43588 44481224 6685514 44524812 TUITION 611310 55347112 55347112 MEDIA 516100 7018343 2396399 201053 4420891 EVENT AND SERVICE FEES 611710 6745569 6529806 215763 STUDENT RESIDENT HOUSI 721310 5582243 5582243 FOOD SERVICE 722514 3541284 3541284 431269 431269 78665820 2132765 2132765 77415 113943 0 38625 77415 75318 152733 77415 75318 13307854 35532 12311053 2328 996801 33204 1030005 1030005 17069 43588 16324 745 745 MISCELLANEOUS INCOME 611710 475824 475824 475824 126982704 73905528 492134 8060230 374275 374275 23552435 23552435 165850 165850 972294 436644 501415 34235 44139 44139 37319573 33389501 3114268 815804 1483718 1312781 137228 33709 6507141 5924258 485701 97182 2819557 2487820 273297 58440 313207 172189 139674 1344 114648 114648 1133057 1133057 169300 169300 8728720 6778570 969883 980267 3036251 2145533 477386 413332 3993884 2556025 1087478 350381 1801678 1516830 247051 37797 202968 202574 380 14 5466504 4773028 674138 19338 2568950 2085156 160828 322966 200604 182424 13246 4934 577117 336684 238732 1701 5896926 4811257 1056865 28804 1789529 1534307 223030 32192 FOOD & MEALS 3994656 3950175 4485 39996 EQUIPMENT & MAINTENANCE 1912926 1733962 159048 19916 DUES & SUBSCRIPTIONS 852801 631578 187692 33531 STUDENT STIPEND 365805 365805 1281257 887575 241274 152408 117639770 102307236 10721186 4611348 X 4809078 3781787 24370266 30902848 12051 2450 1261596 1296738 85714 71429 252228 304877 854915 596665 177533080 104169920 76666785 73363160 28458910 30888664 542095 402482 19254051 23520695 7093244 7914152 163660933 173045947 6815825 6333494 1150174 1134026 6189413 4949531 4940535 4791041 193959 166992 6549102 6699823 25839008 24074907 X 110972798 118307964 26849127 30663076 137821925 148971040 163660933 173045947 X 9342934 1771688 34493 X X 0 1 X 1 1 1 X 30511155 38212344 38339415 37873224 44524812 189460950 30511155 38212344 38339415 37873224 44524812 189460950 1577299 187883651 545963 722616 1248030 1891830 2210180 6618619 24846 137240 228605 290389 256909 937989 242060 386989 314353 373269 475824 1792495 198810053 393447960 0.94500 0.94900 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2020 AMOUNT: $ 242,060. 2021 AMOUNT: $ 386,989. 2022 AMOUNT: $ 314,353. 2023 AMOUNT: $ 373,269. 2024 AMOUNT: $ 475,824. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 0 0 0 0 1 139313 139313 0 PART II-B, LINE 1: PAID MEMBERSHIP DUES TO ORGANIZATIONS WHERE THE DUES COVERED A PORTION OF LOBBYING EXPENSES. 0 1339567 0 0 X X X 0 26022132 916085 3041006 856000 29123223 22112282 2130560 2611290 832000 26022132 21207532 710796 1773449 1579495 22112282 23485201 993109 -2507778 763000 21207532 19115020 716153 4368028 714000 23485201 0.17070 0.59602 0.23328 0 0 9586747 9586747 137061095 79822215 57238880 28902602 24347705 4554897 1982636 1982636 73363160 TRUST AND ANNUITY OBLIGATIONS 400525 OTHER LIABILITIES 299314 ASSET RETIREMENT OBLIGATION 428078 REFUNDABLE US GOV'T STUDENT LOAN FUNDS 337633 LEASE LIABILITY 5234273 6699823 104629424 1771688 -293332 1478356 103151068 169300 23662336 23831636 126982704 93480309 16324 16324 93463985 169300 24006485 24175785 117639770 PART III, LINE 4: THE UNIVERSITY HOLDS AN ART COLLECTION, WHICH FURTHERS OUR EDUCATIONAL EXEMPT PURPOSE BY PROVIDING ART STUDENTS WITH VARIOUS EXAMPLES OF ARTWORK FOR SCHOLARLY RESEARCH. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN SPLIT INTEREST AGREEMENTS 45,814. CHANGE IN VALUE OF INTEREST RATE SWAP -11,321. INTERCOMPANY ELIMINATIONS -327,825. PART XI, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL GRANTS/AWARDS 23,717,285. RENTAL EXPENSES -38,625. FUNDRAISING EXPENSES -16,324. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 16,324. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL GRANTS/AWARDS 23,717,285. INTERCOMPANY ELIMINATIONS 327,825. RENTAL EXPENSES -38,625. 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 UNIVERSITY'S NONDISCRIMINATORY POLICY IS PUBLISHED ON THE UNIVERSITY'S WEBSITE HOMEPAGE SCHEDULE E, PART I, LINE 6 THE UNIVERSITY ADMINISTERS GOVERNMENT PROGRAMS SUCH AS WORK STUDY, PERKINS LOANS, PELL GRANTS, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS, AND THE FEDERAL DIRECT LOAN PROGRAM THAT PROVIDE FINANCIAL ASSISTANCE TO ITS STUDENTS. 1 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 GRANTS 9800 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 GRANTS 155050 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDY ABROAD AND STUDENT TRIPS 437000 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES STUDENT TRIPS 16000 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDENT TRIPS 96000 0 0 0 0 0 0 713850 0 713850 SCHOLARSHIPS & TUITION ASSISTANCE EAST ASIA AND THE PACIFIC 12 155050 OTHER 0 N/A N/A SCHOLARSHIPS & TUITION ASSISTANCE SUB-SAHARAN AFRICA 1 9800 OTHER 0 N/A N/A 0 0 0 0 0 0 PART I, LINE 2: SCHOLARSHIPS AND GRANTS FOR STUDENTS ARE APPLIED DIRECTLY TO A STUDENT'S UNIVERSITY ACCOUNT AND APPLIED TO TUITION, FEES, ROOM AND BOARD. ALL FINANCIAL AID IS SUBJECT TO REVISION BASED ON AVAILABILITY, CHANGES IN FAMILY CONTRIBUTION AND/OR CREDIT LOAD. SATISFACTORY ACADEMIC PROGRESS MUST BE MAINTAINED ACCORDING TO STANDARDS PRESCRIBED BY THE UNIVERSITY. ANNUAL RENEWAL OF FINANCIAL AID IS CONTINUOUS IF INSTITUTIONAL FINANCIAL NEED REMAINS, ALL REQUIRED DOCUMENTS ARE COMPLETED BY THE PUBLISHED DEADLINE AND SATISFACTORY ACADEMIC PROGRESS IS MAINTAINED CONSISTENT WITH THE UNIVERSITY'S POLICY. PART I, LINE 3: THE UNIVERSITY USES THE ACCRUAL METHOD TO ACCOUNT FOR EXPENDITURES OUTSIDE OF THE UNITED STATES. X X X X X X 1 TODD DEXTER & ASSOCIATES LLC 4975 PRESTON PARK BOULEVARD SUITE PLANO TX 75093 DIRECT MAIL 0 2541192 1133057 1408135 2541192 1133057 1408135 AL AR CA FL GA HI IL KS KY MA MD MI MN MS NC NH NM NJ NY OR PA RI SC TN VA WV WI AK CO ND OH OK WA LA NV CT DC ME GOLF 60657 43588 17069 1356 6716 6958 1295 60657 43588 17069 1356 6716 6958 1295 16325 744 1 FAR EAST BROADCASTING COMPANY PO BOX 2850 FRISCO TX 90637 951461574 501(C)(3) 100000 0 N/A N/A PROJECT SUPPORT ONECHILD PO BOX 62600 COLORADO SPRINGS CO 80962 841087689 501(C)(3) 91000 0 N/A N/A GENERAL OPERATING SUPPORT NATIONS ONE FOR CHRIST 214 S 32ND AVE E DULUTH MN 55812 274182423 501(C)(3) 55219 0 N/A N/A GENERAL OPERATING SUPPORT TRANS WORLD RADIO 300 GREGSON DRIVE CARY NC 27511 221690564 501(C)(3) 50000 0 N/A N/A PROJECT SUPPORT MN ADULT & TEEN CHALLENGE 740 E 24TH STREET MINNEAPOLIS MN 55404 411517351 501(C)(3) 17500 0 N/A N/A GENERAL OPERATING SUPPORT THE BECKET FUND FOR RELIGIOUS LIBERTY 1919 PENNSYLVANIA AVE NW WASHINGTON DC 20006 521858532 501(C)(3) 10000 0 N/A N/A GENERAL OPERATING SUPPORT THE DWELLING PLACE 940 44TH AVE NE COLUMBIA HEIGHTS MN 55421 411897793 501(C)(3) 10000 0 N/A N/A EVENT SPONSORSHIP REGIONS HOSPITAL FOUNDATION 640 JACKSON ST SAINT PAUL MN 55101 411888902 501(C)(3) 10000 0 N/A N/A GENERAL OPERATING SUPPORT 8 0 SCHOLARSHIPS & TUITION ASSISTANCE 1414 23552435 0 N/A N/A PART I, LINE 2: FOR GRANTS TO UNRELATED ORGANIZATIONS, SENIOR MANAGEMENT GENERALLY MONITORS RECIPIENT SPENDING VIA COMMUNICATION WITH THE ORGANIZATIONS TO SEE HOW OPERATIONS ARE RUNNING. A SITE VISIT BY SENIOR MANAGEMENT MAY ALSO BE CONDUCTED TO CHECK THE STATUS OF THE ORGANIZATION AND/OR MONITOR THE PROGRESS OF THE INTENDED PROJECT. SCHOLARSHIPS AND GRANTS FOR STUDENTS ARE APPLIED DIRECTLY TO A STUDENT'S UNIVERSITY ACCOUNT AND APPLIED TO TUITION, FEES, ROOM AND BOARD. ALL FINANCIAL AID IS SUBJECT TO REVISION BASED ON AVAILABILITY, CHANGES IN FAMILY CONTRIBUTION AND/OR CREDIT LOAD. SATISFACTORY ACADEMIC PROGRESS MUST BE MAINTAINED ACCORDING TO STANDARDS PRESCRIBED BY THE UNIVERSITY. ANNUAL RENEWAL OF FINANCIAL AID IS CONTINUOUS IF INSTITUTIONAL FINANCIAL NEED REMAINS, ALL REQUIRED DOCUMENTS ARE COMPLETED BY THE PUBLISHED DEADLINE AND SATISFACTORY ACADEMIC PROGRESS IS MAINTAINED CONSISTENT WITH THE UNIVERSITY'S POLICY. X X 1 1 X X X X 1 0 0 0 0 0 0 0 0 DR CORBIN HOORNBEEK PRESIDENT 302757 0 0 0 30646 0 7754 0 33286 0 374443 0 0 0 JASON SHARP SR. VP FOR MEDIA 197975 0 0 0 1316 0 8160 0 27067 0 234518 0 0 0 DR JANET SOMMERS PROVOST/SR. VP FOR ACADEMIC AFFAIRS 159878 0 0 0 2561 0 6867 0 28667 0 197973 0 0 0 SCOTT JONES ASST VP FOR BUS OPS & TECH/MEDIA 160656 0 0 0 1098 0 6848 0 26822 0 195424 0 0 0 DAVE GORDON SENIOR DIRECTOR OF MEDIA MARKETS 148712 0 12143 0 1655 0 6324 0 25934 0 194768 0 0 0 JOHN SOMMERVILLE VP FOR FINANCE & OPERATIONS/CFO/TREA 105603 0 0 0 50836 0 6658 0 29550 0 192647 0 0 0 SUZANNE HAPPS SENIOR DIRECTOR OF MEDIA MARKETS 152132 0 14137 0 1014 0 6324 0 14870 0 188477 0 0 0 DAVID GATTORNA SENIOR DIRECTOR OF MEDIA MARKETS 148404 0 0 0 1601 0 6324 0 30615 0 186944 0 0 0 NINA BARNES VP FOR PEOPLE AND CULTURE 25828 0 0 0 131764 0 324 0 868 0 158784 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS: HEATHER HOORNBEEK, SPOUSE OF PRESIDENT HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: DR. HOORNBEEK FORGIVABLE HOUSING LOAN PART I, LINE 4A NINA BARNES'S COMPENSATION REPORTED ON FORM 990, PART VII INCLUDED $131,574 FOR SEVERANCE; TERMS AND CONDITIONS WERE AS FOLLOWS: SEVERANCE A PUBLIC FINANCE AUTHORITY 273866124 NONEAVAIL 2014-07-01 25320000 SEE PART IV 0 0 0 A 20330000 25320000 6200000 19120000 2014 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 1 1 BMO HARRIS BANK NA 9.000000000000 0 0 0 0 1 A 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: PUBLIC FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 07/15/2014 SCHEDULE K, PART I, COLUMN (F): DEBT CONSOLIDATION, ATHLETIC COMPLEX RENOVATION, STUDENT HOUSING ACQUISITION DR CORBIN HOORNBEEK PRESIDENT LOAN FOR MORTGAGE X 100000 71429 0 1 1 71429 X 35 1593487 STOCK MARKET QUOTES X 1 580000 APPRAISAL X RADIO STATION 1 4512027 ESTIMATED VALUE 1 0 1 0 PART I, LINE 32B: COLUMN (B) REPRESENTS NUMBER OF CONTRIBUTIONS. PART I, LINE 33: NONCASH CONTRIBUTIONS THAT ARE VALUED BELOW THE $20,000 CAPITALIZATION THRESHOLD ARE NOT RECORDED AS REVENUE. FORM 990, PART VI, SECTION A, LINE 1A UNIVERSITY OF NORTHWESTERN - ST. PAUL HAS AN EXECUTIVE COMMITTEE, CONSISTING OF THE CHAIR, VICE-CHAIR AND SECRETARY OF THE BOARD OF TRUSTEES, THE PRESIDENT OF THE UNIVERSITY, AND THE CHAIR OF EACH OF THE STANDING COMMITTEES OF THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE HAS THE AUTHORITY TO ACT ON BEHALF OF THE BOARD OF TRUSTEES ON ALL MATTERS EXCEPT FOR THE FOLLOWING, WHICH ARE RESERVED FOR THE FULL BOARD OF TRUSTEES: PRESIDENTIAL SELECTION AND TERMINATION, TRUSTEE AND BOARD OFFICER SELECTION, CHARTER AND BYLAW AMENDMENT, CHANGING THE INSTITUTION'S MISSION, INCURRING CORPORATE INDEBTEDNESS BEYOND WHAT THE BOARD OF TRUSTEES HAS AUTHORIZED BY RESOLUTION, APPROVAL OF THE ANNUAL BUDGET, AND CONFERRAL OF DEGREES. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF THE FORM 990 WAS PROVIDED TO THE UNIVERSITY'S VP OF FINANCE AND OPERATIONS/CFO AND CONTROLLER FOR A DETAIL REVIEW AFTER ALL CHANGES WERE MADE AND QUESTIONS ANSWERED. A FINAL COPY OF THE FORM 990 WAS THEN REVIEWED BY THE BOARD OF TRUSTEES PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE UNIVERSITY'S CONFLICT OF INTEREST POLICY APPLIES TO ITS BOARD OF TRUSTEES, OFFICERS AND MANAGEMENT EMPLOYEES. THE BOARD OF TRUSTEES SIGN A CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS. IT IS THE RESPONSIBILITY OF ALL INTERESTED PERSONS TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST AS SOON AS THEY BECOME AWARE OF THEM. DISCLOSURES ARE MADE TO THE PRESIDENT OF THE UNIVERSITY OR THE CHAIR OF THE BOARD OF TRUSTEES, AS APPROPRIATE, WHO BRING THE MATTER TO THE ATTENTION OF THE ENTIRE BOARD OF TRUSTEES. THE BOARD THEN DETERMINES IF A CONFLICT EXISTS, WHETHER IT IS MATERIAL, AND WHETHER IT IS JUST, FAIR AND REASONABLE TO THE UNIVERSITY OF NORTHWESTERN - ST. PAUL. THE INTERESTED PERSON LEAVES THE ROOM FOR DISCUSSIONS INVOLVING, AND MAY NOT VOTE ON, THE RELEVANT CONTRACT OR TRANSACTION. WHEN THERE IS A CONFLICT OF INTEREST DURING A BOARD MEETING DISCUSSION, IT IS DOCUMENTED IN THE BOARD MINUTES THAT THE PERSON(S) WITH THE CONFLICT LEFT THE ROOM FOR THE COURSE OF THE DISCUSSION. FORM 990, PART VI, SECTION B, LINE 15A PRESIDENT OF UNIVERSITY OF NORTHWESTERN - ST. PAUL: NORTHWESTERN RECEIVES COMPARISON DATA FROM FOUR MAIN SOURCES: (1) COUNCIL FOR CHRISTIAN COLLEGES AND UNIVERSITIES, (2) CUPA, (3) YAFFE & CO, AND (4) COMPARABLE FORM 990S. ALL FOUR OF THESE SOURCES TARGET HIGHER EDUCATION COMPENSATION. THE OFFICE OF HUMAN RESOURCES IS RESPONSIBLE FOR REVIEWING THE SURVEYS RELATED TO TOP MANAGEMENT AS WELL AS ALL EMPLOYEES AND ENSURE THAT WAGES ARE WITHIN AN APPROPRIATE RANGE. THE PRESIDENT'S SALARY WAS OFFICIALLY REVIEWED BY THE BOARD OF TRUSTEES AND DOCUMENTED IN THE MEETING MINUTES. THE LAST REVIEW WAS COMPLETED IN 2025. OTHER OFFICERS, DIRECTORS, TRUSTEES AND KEY EMPLOYEES: UNIVERSITY OF NORTHWESTERN - ST. PAUL HAS A FORMAL SALARY PROGRAM WITH SALARY GRADES AND SALARY RANGES FOR POSITIONS. UNIVERSITY OF NORTHWESTERN - ST. PAUL ANNUALLY PARTICIPATES IN MULTIPLE SALARY SURVEYS AND ALSO REVIEWS LOCAL SALARY DATA TO DETERMINE SALARY GRADE RANGES. THE PROCESS IS REVIEWED BY HUMAN RESOURCES AND SALARY GRADE INCREASES ARE MADE TO THE MINIMUM, MIDPOINT AND MAXIMUM OF THE PAY RANGE. VICE PRESIDENT SALARIES ARE REVIEWED BY THE PRESIDENT. THE PRESIDENT HAS ACCESS TO SALARY SURVEY DATA AND FROM THERE A REQUEST FOR SALARY CHANGE IS MADE BY THE PRESIDENT AND PRESENTED TO HUMAN RESOURCES FOR REVIEW AND PROCESSING. THE LAST REVIEW INCLUDING COMPARABILITY DATA WAS IN 2025. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. IT DOES NOT MAKE ITS GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 45,814. CHANGE IN VALUE OF INTEREST RATE SWAP -11,321. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. 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