2026-05-12T16:47:30-05:00 2025-06-30 450250958 Eide Bailly LLP 2950 E Harmony Rd Ste 290 Fort Collins CO 805283429 990 2024-07-01 841029228 Naropa University NARO 3034440202 2130 Arapahoe Ave Boulder CO 80302 Spencer Conroy Chief Financial Officer 3034440202 2026-05-11 1 1 Kyle Fritch CPA P01313374 9702238825 2026-04-30 2024 2025-03-06 01:10:19Z Paul Burkhardt 2130 Arapahoe Ave Boulder CO 80302 41934831 0 X www.naropa.edu X 1974 CO Naropa University is North America's leading institution of contemplative education. 19 18 593 17 1053 0 4272992 4393475 31056486 31598844 1589986 2911155 0 -55493 36919464 38847981 6998285 6714090 0 0 19205275 19241884 0 0 628110 11281878 12135080 37485438 38091054 -565974 756927 33135784 31190705 19150147 16173438 13985637 15017267 X Naropa University recognizes the inherent goodness and wisdom of each human being. Naropa educates the whole person, nurturing in its students a lifelong joy in learning, a critical intellect, the sense of purpose that accompanies compassionate service to the world, and the openness and equanimity that arise from authentic insight and self-understanding. Naropa students explore the inner resources needed to engage with a complex and challenging world, to help transform that world, and to attain deeper levels of happiness and meaning in their lives. Drawing on the vital insights of the world's wisdom traditions, Naropa is simultaneously Buddhist-inspired, ecumenical, and nonsectarian. Naropa values ethnic and cultural differences for their essential role in education. It embraces the richness of human diversity with the aim oof fostering a more just and equitable society and an expanded awareness of our common humanity. 0 1 27074296 6635265 29819172 The University offers undergraduate, graduate, and continuing education programs in arts, social sciences, and the humanities. It is accredited by the Higher Learning Commission. There are approximately 1,000 graduate and undergraduate students. Instruction, student services, and academic support program services all support the University's purpose and mission to educate the whole person. 676952 32815 676911 Alaya Preschool operates as a preschool and childcare facility service children and their families in the greater Boulder area. As part of Naropa University, Alaya Preschool operates as a lab school serving students in Naropa's early childhood and contemplative education programs. Alaya is licensed by the Colorado Department of Human Services, Division of Child Care and serves approximately 60 families. Financial support is provided for some families through scholarships for tuition assistance 775831 46010 765772 Student Housing for those undergraduates that are required to live in student housing or those students that elect to live in student housing. Served approximately 75 students. 503859 0 336989 Naropa Community Counseling Center integrates contemplative approaches with modern clinical practice to assist our clients in reaching their highest level of emotional and mental well-being. We provide cutting edge, transformative intervention across a broad range of therapeutic services. Naropa Community Counseling serves Boulder and Front Range. The Naropa Community Counseling Center served approximately 575 clients over the year. 503859 0 336989 29030938 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 1 120 0 1 593 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 19 18 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 X Spencer Conroy 3034440202 2130 Arapahoe Ave Boulder CO 80302 Charles Lief President 40.00 X X 388915 0 54772 Suzanne Benally Co-Chair 1.00 X X 0 0 0 Mark Wilding Co-Chair 1.00 X X 0 0 0 Joe Cassidy Trustee 1.00 X 0 0 0 Mara Ferris Trustee 1.00 X 0 0 0 Marty Janowitz Trustee 1.00 X 0 0 0 Lorenzo Gonzalez Faculty Trustee 40.00 X 63647 0 8258 Lori Laser Trustee 1.00 X 0 0 0 Arron Mansika Trustee 1.00 X 0 0 0 Martine Joelle McDonald Trustee 1.00 X 0 0 0 Amber Neathery Trustee (as of June) 1.00 X 0 0 0 Samantha Sanderson Trustee 1.00 X 0 0 0 Tara Trujillo Trustee 1.00 X 0 0 0 Dan Zigmond Trustee 1.00 X 0 0 0 Vijay Singh Trustee 1.00 X 0 0 0 Kendra Sandoval Trustee 1.00 X 0 0 0 Judith Dack Trustee 1.00 X 0 0 0 Lynne Katzmann Trustee 1.00 X 0 0 0 Jacky Sabin Trustee (until June) 1.00 X 0 0 0 Spencer Conroy CFO 40.00 X 0 0 0 Ann Marie Klotz VP of DESS 40.00 X 190254 0 26991 Regina Smith VP of Academics 40.00 X 155042 0 12284 Jeffrey Pethybridge Chief Academics Officer 40.00 X 123316 0 14863 Carlos Gomez AVP Information Tech. 40.00 X 100439 0 49843 William Monroe- Dir of Naropa Comm. Counseling 40.00 X 109548 0 40184 Jorge Arias Controller 40.00 X 109062 0 18957 Sharla Owens AVP Development 40.00 X 108196 0 12283 1348419 0 238435 10 0 1 0 Ellucian Company LP 62578 Collections Center Drive Chicago IL 60693 ERP, IT management & consulting 629827 Heightened Education Consulting LLC 154 Oak Place Drive Houston TX 77006 Higher education & finance consulting 449373 M&H Commerical Cleaning Services 1221 Homestead Rd Erie CO 80516 Cleaning Services 279399 Doctums Global Llc 119 S Emerson St 186 Mount Propect IL 60056 IT management 236610 Networks That Matter Inc 5144 S Jamaica Way Englewood CO 80111 Marketing and Public Relations 234000 14 102338 2345621 1945516 657951 4393475 Tuition and Fees 611710 29600694 29600694 Auxiliary Activities - Housing 611710 765772 765772 Auxiliary Enterprise - Alaya Pres 611710 676911 676911 Counseling Revenue 611710 336989 336989 218478 218478 31598844 425472 1053 424419 2100213 3381805 2006857 989478 93356 2392327 2485683 2485683 35022 102338 90515 -55493 -55493 38847981 31598844 1053 2854609 6714090 6714090 909215 72831 673285 163099 15025761 12029713 2861188 134860 196153 193350 2803 1802341 1526315 245411 30615 1308414 1100563 183049 24802 380144 380144 336315 336315 152719 152719 53137 53137 3194095 1442807 1722727 28561 483640 166630 197272 119738 623701 403394 169765 50542 1792690 1485428 275259 32003 2684157 2096423 580945 6789 455293 438664 2675 13954 548313 454333 84191 9789 509844 422458 78284 9102 393761 18130 375631 Repairs and Maintenance 322602 261140 57206 4256 Education Materials and 204669 204669 38091054 29030938 8432006 628110 378817 2904041 2906919 2634210 1085272 1064591 924304 359327 128209 0 437528 742276 24805100 12163924 13898902 12641176 4686183 4876170 8689650 5968914 33135784 31190705 2193602 2078898 2265983 1401978 4076557 3439827 2943375 3000000 7670630 6252735 19150147 16173438 X 8744596 9451265 5241041 5566002 13985637 15017267 33135784 31190705 X 756927 324703 -50000 X 0 1 X 0 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 89839 X X 0 4287231 342367 46311 557116 4026171 4613108 20392 231233 35943 142607 4686183 4291892 5000 468149 67561 84372 4613108 5635034 25604 -589898 778848 4291892 5426786 736525 528277 5635034 0.22720 0.70860 0.06420 0 0 3341884 3341884 16187246 7278929 8908317 88219 77973 10246 4087137 3988250 98887 1100614 818772 281842 12641176 Security Deposits 70298 Operating Lease Right of Use Assets 5898616 5968914 Lease Liability 6252735 6252735 X 32445972 324703 -6673575 -6348872 38794844 53137 53137 38847981 31414342 0 31414342 53137 6623575 6676712 38091054 Part III, Line 4: The artwork is composed of paintings, calligraphies, slides, and photos that provide historical references to the school's founder and heritage. Part V, Line 4: The University's endowment consists of approximately 30 funds establishd by donors and one restricted term endowment. Perpetual Endowment funds are charitable funds whose principal must be preserved in perpetuity as a condition imposed by the donor. Term Endowment funds are scholarship-restricted funds whose principal may be expended in accordance with the Foundation's spending-rate policy and is held for until 2035 in accordance with Title III agreement. Part X, Line 2: The University believes that it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The University would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. The University's Forms 990, 990-T and other income tax filings required by state, local, or non-U.S. tax authorities are no longer subject to tax examination for years before 2022. Part XI, Line 2d - Other Adjustments: Student Scholarships Netted With Income on the Audited Financials -6,635,265. Preschool Scholarships Netted With Income on the Audited Financials -32,815. Housing Discounts Netted With Income on the Audited Financials -46,010. Uncollectible Pledges -50,000. Event Expenses Reported on Part VIII 90,515. Part XII, Line 4b - Other Adjustments: Student Scholarships Netted With Income on the Audited Financials 6,635,265. Preschool Scholarships Netted With Income on the Audited Financials 32,815. Housing Discounts Netted With Income on the Audited Financials 46,010. Event Expenses Reported on Part VIII -90,515. Schedule D, Part V, Line 1A The difference between ending and beginning endowment funds changed to adjust for changes in the endowment reporting. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Naropa University posts its Statement of Nondiscrimination and guidelines on their public website. Schedule E, Part I, Line 6 Naropa offers student loans and grants through government programs such as Pell, Stafford, Perkins, and Direct loans. Naropa also has student workers and receives a subsidy from the government to offset a portion of their compensation. 50th Gala 137360 102338 35022 2937 8613 66022 6752 6191 137360 102338 35022 2937 8613 66022 6752 6191 90515 -55493 1 Scholarships, Tuition Discounts, Student Aid 744 6635265 Alaya Preschool financial need based assistance 11 32815 Housing Discount 10 46010 Part I, Line 2: The Financial Aid office monitors students adherence to academic scholarship requirements such as GPA and satisfactory academic progress. X X 1 1 X X 0 0 0 0 0 0 0 0 0 Charles Lief President 388915 0 0 0 0 0 20171 0 36651 0 445737 0 0 0 Ann Marie Klotz VP of DESS 190254 0 0 0 0 0 7688 0 19498 0 217440 0 0 0 Regina Smith VP of Academics 155042 0 0 0 0 0 0 0 12475 0 167517 0 0 0 Carlos Gomez AVP Information Tech. 100439 0 0 0 0 0 13477 0 36518 0 150434 0 0 0 Part I, Line 1a The University President is reimbursed for 50% of home cleaning services. The Home is used to host many of the University's events. As such, the portion of the cleaning costs reimbursed by the University are considered a business expense to the University and is not considered taxable income to the President. The President rents a home from the University in which he and his family reside. The rent is paid at fair market value. In October 2024, the university sold the President's house and signed a lease agreement for the property where the president resided through the end of his tenure as president in August 2025. A Colorado Education & Cultural Facilities Authority Series 2020 840896727 2020-06-18 5555968 Refund of the Series 2013A And 2013B Bonds 0 0 0 A 2025330 5555968 111119 5444850 2020 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 1 A 0 Heightened Education Consulting LLC Officer has more than a 35% ownership in the company 449373 CFO Consulting services, financial services, and facilities consulting services. 0 X 3 657951 Stock price 0 0 1 0 Part I, Column (b): Column (b) is the number of contributions contributed. Form 990, Part III, line 3 At the end of December 2024, the university began to phase out the psychedelics program and that process bridged both years 2024 and 2025. Form 990, Part VI, Section A, line 3 The role of Chief Financial Officer was being filled by a consultant through Heightened Education Consulting LLC. Spencer Conroy oversaw the areas of finance, budgeting, facilities, information technology, financial aid, and human resources. The total compensation to the consulting firm for Spencer's services was $380,144. Form 990, Part VI, Section B, line 11b The President and CFO review the draft Form 990. A full draft of the Form 990 is sent to the Finance and Sustainability Committee Chairs for review prior to filing with the Internal Revenue Service. A redacted draft of the Form 990 is sent to the board of trustees. Form 990, Part VI, Section B, line 12c The conflict of interest policy is applied to all Board members. A Board member shall be considered to have a conflict of interest if they, or persons or entities with which they are affiliated, has a direct or indirect interest that may impair or may reasonably appear to impair their independent, unbiased judgment in the discharge of their responsibilities to the institution. Board members shall disclose to the Board any actual, apparent, or possible conflict of interest at the earliest practical time. A Board member who has made such a disclosure shall abstain from voting on such matters. The Board member may be invited to participate in the discussion. The conflict of interest policy also required every Board member to complete and sign a disclosure form on an annual basis. Form 990, Part VI, Section B, line 15 Executive Committee of board of directors meets to review performance in line with strategic plan goals and annual tactical goals achieved. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy, and financial statements are available upon request. Form 990, Part XI, line 9: Uncollectible Pledges -50,000.