2024-03-11T14:14:18-05:00 2023-05-31 390859910 BAKER TILLY US LLP 225 S 6TH ST 2300 MINNEAPOLIS MN 55402 990 2022-06-01 420680466 LUTHER COLLEGE LUTH 5633871015 700 COLLEGE DRIVE DECORAH IA 52101 ANDREW BAILEY INTERIM VP FOR FINANCE & ADMIN 5633871015 2024-03-11 1 ANDREW BAILEY XXX-XX-XXXX 1 KAREN A GRIES P00078514 6128764500 2024-03-11 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JENIFER K WARD 700 COLLEGE DRIVE DECORAH IA 52101 116297968 0 9386 X WWW.LUTHER.EDU X 1865 IA ON A CAMPUS OF MORE THAN 800 ACRES ALONG THE BANKS OF THE UPPER IOWA RIVER IN DECORAH, IOWA, LUTHER IS A TRUE RESIDENTIAL CAMPUS, WITH 97 PERCENT OF STUDENTS LIVING ON CAMPUS AND NEARLY 95 PERCENT OF FACULTY CHOOSING TO LIVE WITHIN FIVE MILES OF IT. LUTHER'S STUDENT BODY INCLUDES 1,593 MEN AND WOMEN (45 PERCENT AND 55 PERCENT, RESPECTIVELY) FROM 44 STATES AND 60 FOREIGN COUNTRIES. U.S. STUDENTS OF COLOR CONSTITUTE 13.1 PERCENT OF THE STUDENT BODY. APPROXIMATELY 70 PERCENT OF LUTHER STUDENTS VOLUNTEER DURING THEIR TIME HERE, EXHIBITING THE HIGH SERVICE ETHIC INTRINSIC TO LUTHER CULTURE. THE COLLEGE STRIVES TO BE A PLACE WHERE PEOPLE OF ALL CONVICTIONS CAN REALIZE PERSONAL, INTELLECTUAL, AND SPIRITUAL GROWTH. 24 23 2023 553 -18965 0 17094162 10722779 96344139 94629525 4742323 5645063 1778442 2229114 119959066 113226481 53993617 51226844 0 0 36815563 37321809 0 0 3782392 28726014 31838061 119535194 120386714 423872 -7160233 317463557 305906835 41056956 39077338 276406601 266829497 X FOUNDED BY THE NORWEGIAN EVANGELICAL LUTHERAN CHURCH IN 1861, LUTHER COLLEGE IS A FOUR-YEAR, RESIDENTIAL LIBERAL ARTS INSTITUTION. LUTHER WELCOMES STUDENTS OF ALL BACKGROUNDS TO ENGAGE IN A WAY OF LEARNING THAT MOVES BEYOND IMMEDIATE INTERESTS AND ENCOURAGES STUDENTS TO BUILD A LIFE OF CONSEQUENCE. AT THE HEART OF A LUTHER EDUCATION IS AN UNDERSTANDING OF THE WAY FAITH AND LEARNING INTERSECT AND IN TURN CONNECT STUDENTS TO THE LARGER WORLD. LUTHER OFFERS MORE THAN 80 MAJORS, MINORS, AND PREPROFESSIONAL PROGRAMS. 0 0 77497227 51226844 75198833 INSTRUCTION: LUTHER OFFERS 39 MAJORS, 40 MINORS AND INTERDISCIPLINARY MINORS, AND 4 PREPROFESSIONAL AND SPECIFIC PROGRAMS. LUTHER'S SIGNATURE PAIDEIA PROGRAM, AN INTERDISCIPLINARY COURSE SERIES OFFERED FOR MORE THAN 45 YEARS, HELPS INTEGRATE LEARNING AND BUILDS COMMUNITY THROUGH SHARED ACADEMIC EXPERIENCE. THE COLLEGE'S MUSIC PROGRAM, IN WHICH STUDENTS TRAIN IN PERFORMANCE, CONDUCTING, COMPOSITION, AND EDUCATION, HAS FIVE CHOIRS, TWO BANDS, THREE ORCHESTRAS AND TWO JAZZ BANDS, MANY OF WHICH TOUR NATIONALLY AND INTERNATIONALLY. A VIBRANT OFF-CAMPUS STUDENT PROGRAM DRAWS APPROXIMATELY 66% OF STUDENTS TO STUDY ABROAD PRIOR TO GRADUATION. LUTHER HAS 139 FULL-TIME FACULTY (APPROXIMATLY 92 PERCENT WITH A TERMINAL DEGREE) AND A 11:1 STUDENT-FACULTY RATIO. TOTAL ENROLLMENT WAS 1,593 FTE STUDENTS IN THE FALL OF 2022. 389 STUDENTS GRADUATED IN THE 2022-23 ACADEMIC YEAR. 17078106 1984014 ACADEMIC SUPPORT AND STUDENT SERVICES: THE CENTER FOR ACADEMIC ENRICHMENT PROVIDES SERVICES, BASED ON BEST PRACTICES IN LEARNING ASSISTANCE, INCLUDING NEEDS ASSESSMENT, STUDENT-TO-STUDENT TUTORING, AND ONE-ON-ONE INSTRUCTION WITH PROFESSIONAL STAFF. IN COLLABORATION WITH FACULTY AND OTHER STAFF, CAE COORDINATES SPECIALIZED SERVICES FOR STUDENTS WITH DISABILITIES, MANAGES THE ACADEMIC ALERT SYSTEM, AND SUPPORTS INITIATIVES OF THE ADVISING PROGRAM. ACADEMIC ADVISING IS DONE BY FACULTY. RESEARCH AND TECHNOLOGY SUPPORT ARE PROVIDED THROUGH AN EXTENSIVE LIBRARY PROGRAM. THE COLLEGE HAS MORE THAN 100 STUDENT ORGANIZATIONS ALONG WITH COLLEGE MINISTRIES, HEALTH SERVICES, AND RECREATION AND WELLNESS PROGRAMS. APPROXIMATELY 66% OF STUDENTS ARE ENGAGED IN WORK STUDY TO SERVE THE LUTHER COMMUNITY, GAIN IMPORTANT WORK EXPERIENCE, AND EARN MONEY TOWARD EXPENSES. 13123312 17446678 AUXILIARY ENTERPRISES: LUTHER COLLEGE MAINTAINS A RURAL RESIDENTIAL CAMPUS TO ENHANCE THE EDUCATIONAL EXPERIENCE OF THE STUDENT BODY WITH ROOM AND BOARD PROGRAMS DESIGNED TO ENCOURAGE A SPIRIT OF COLLEGIALITY AND CONVERSATION BEYOND THE CLASSROOM AND LABORATORY. IN FALL 2022, LUTHER'S RESIDENCE HALLS HOUSED 1,518 STUDENTS OR 97% OF TOTAL FALL ENROLLMENT. 1,276 STUDENTS USED THE COLLEGE'S DINING SERVICE. 176530 PUBLIC SERVICE: OFFERINGS TO THE BROADER COMMUNITY INCLUDE A COLLEGE RADIO STATION, CONFERENCES AND SEMINARS, A PERFORMING ARTS SERIES AND A VARIETY OF PROGRAMS IN THE ARTS, ATHLETICS, SCIENCES, AND LEADERSHIP DEVELOPMENT FOR HIGH SCHOOL STUDENTS. 281045 RESEARCH: THE COLLEGE RECEIVES GRANTS FOR FACULTY/STUDENT RESEARCH COLLABORATION, PARTICULARLY IN THE SCIENCES. THE COLLEGE DEDICATES SPACE, RESOURCES, AND FACULTY TIME FOR COLLABORATIVE INVESTIGATION WITH STUDENTS. RESEARCH PROJECTS ACROSS THE CURRICULUM OCCUR DURING THE ACADEMIC YEAR AND IN THE SUMMER. 457575 108156220 1 1 0 0 0 0 0 1 1 1 1 1 0 0 1 1 0 1 1 1 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 1 0 0 1 1 1 1 0 0 1 3139 0 2023 1 1 1 1 UK 0 0 0 1 1 0 0 0 0 0 0 X 24 23 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 MD MI NH X TERI BLANCHARD 5633871015 700 COLLEGE DRIVE DECORAH IA 52101 JENIFER K WARD PRESIDENT 45.00 X 294631 0 55729 BRADLEY CHAMBERLAIN VP FOR MISSION & COMMUNICATION 45.00 X 153914 0 54706 ANDREW BAILEY VP FINANCE/ADMIN - OUTGOING 45.00 X 144555 0 38689 KAREN HUNT INTERIM ENROLLMENT CHIEF OF STAFF 45.00 X 141443 0 6419 LYNDA SZYMANSKI PROVOST 45.00 X 119315 0 24306 RICHARD BERNATZ REGISTRAR 45.00 X 111361 0 18838 LAURA BARLAMENT EXECUTIVE DIRECTOR OF STRATEGIC MARKETING AND COMM 45.00 X 104804 0 15304 MARY DUVALL VICE PRESIDENT FOR DEVELOPMENT 45.00 X 68851 0 5999 ROBERT CLAY CHEF EQUITY & INCLUSION OFFICER AND ASSISTANT 45.00 X 51513 0 5592 J ROBERT PAULSON JR CHAIRPERSON 5.00 X X 0 0 0 SHANNON DUVAL VICE CHAIRPERSON 5.00 X X 0 0 0 ANN LEON SECRETARY 5.00 X X 0 0 0 JEFFREY ANDERSON REGENT 5.00 X 0 0 0 WENDY DAVIDSON REGENT 5.00 X 0 0 0 WILLIE DAVISMCKENNIE REGENT 5.00 X 0 0 0 PETER ESPINOSA REGENT 5.00 X 0 0 0 CHRIS GADE REGENT 5.00 X 0 0 0 ALLEN GREEN REGENT 5.00 X 0 0 0 KATHERINE JOHNSON-BECKLIN REGENT 5.00 X 0 0 0 SANDEE JOPPA REGENT 5.00 X 0 0 0 DR MARK V LARSON REGENT 5.00 X 0 0 0 FELIX MALPICA REGENT 5.00 X 0 0 0 MICHAEL OSTERHOLM REGENT 5.00 X 0 0 0 CONNIE PLAEHN REGENT 5.00 X 0 0 0 ALESSANDRO RANIOLO REGENT 5.00 X 0 0 0 COREY SCHMIDT REGENT 5.00 X 0 0 0 ANJELA SHUTTS REGENT 5.00 X 0 0 0 JAMES A THOMSEN JR REGENT 5.00 X 0 0 0 CHINYERE UKABIALA REGENT 5.00 X 0 0 0 LANCE VANDER LINDEN REGENT 5.00 X 0 0 0 LEAH VRIESMAN REGENT 5.00 X 0 0 0 DR LIANG CHEE WEE REGENT 5.00 X 0 0 0 JAMES YOUNG REGENT 5.00 X 0 0 0 DENNIS FLATNESS REGENT 5.00 X 0 0 0 VANESSA FRAZIER REGENT 5.00 X 0 0 0 DAVID NORRIS REGENT 5.00 X 0 0 0 SUSAN SORLIEN REGENT 5.00 X 0 0 0 DIANE THORMODSGARD REGENT 5.00 X 0 0 0 1190387 0 225582 7 0 1 0 SODEXO INC BUFFALO SERVICE CENTER PO BOX 352 BUFFALO NY 14240 DINING SERVICES 5972489 MERIT CONTRACTING INC 4661 HADLEY VIEW COURT NE ROCHESTER MN 55906 CONSTRUCTION 1372907 BEYNON SPORTS SURFACES 16 ALT ROAD HUNT VALLEY MD 21030 CONSTRUCTION 743693 ADVANCED ENVIRONMENTAL TESTING AND ABATE 803 RICKER STREET WATERLOO IA 50703 ASBESTOS REMEDIATION 276100 HURON CONSULTING GROUP 550 W VAN BUREN STREET CHICAGO IL 60607 MANAGEMENT CONSULTING 199000 11 9100 1185660 9528019 225435 10722779 TUITION & FEES 561910 75198833 75198833 SALES & SERVICE AUXILL 611310 17446678 17446678 SALES & SERVICE EDUCAT 611710 1984014 1984014 94629525 4637019 4637019 237520 208571 28949 28949 28949 3861350 2853306 1008044 1008044 1008044 7616 9100 9610 -1994 -1994 FACILITY USAGE FEES 611310 1001686 1001686 SUMMER PROGRAMS 611310 563021 563021 MISCELLANEOUS REVENUE 611310 349636 349636 287816 -18965 306781 2202159 113226481 94629525 -18965 7893142 51226844 51226844 1262613 537945 559276 165392 6101 6101 26705205 22031726 3118591 1554888 1128577 932403 136174 60000 6389236 4891258 1075344 422634 1830077 1478184 233757 118136 49087 11592 32236 5259 88000 88000 122617 122617 2351641 1330118 830926 190597 96526 9467 86663 396 2277720 1824449 333375 119896 105377 25753 44961 34663 3272138 3146948 62595 62595 3754431 3453916 71284 229231 1263260 1065386 71577 126297 611786 604228 3779 3779 5376706 5112032 66168 198506 746665 303785 437300 5580 DINING SERVICES 5412125 5412125 EQUIP RENTAL/MAINTENANC 4076446 2784297 870074 422075 RESALEABLE MERCHANDISE 1266278 1219886 23196 23196 PROCESSING FEES 351687 299579 19517 32591 615571 454299 154591 6681 120386714 108156220 8448102 3782392 44608231 39922766 6344678 2496654 642728 502858 1507057 1545874 526411 571501 295520 163445 198947318 142274306 60261577 56673012 131549743 129084012 59628230 61301597 3128691 2157220 8970691 11487896 317463557 305906835 6629747 7471514 1948819 889151 904522 1017637 20570168 19208303 265354 248489 10738346 10242244 41056956 39077338 X 89800602 84560912 186605999 182268585 276406601 266829497 317463557 305906835 X -7160233 -2824135 407264 X X 0 1 X 1 1 1 X 15701384 12909917 15483877 17094161 10722779 71912118 15701384 12909917 15483877 17094161 10722779 71912118 9368544 62543574 3826826 3857329 3342926 3921979 5022730 19971790 0 0 0 13587 0 13587 91897495 501839464 0.68060 0.74860 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 300 29027 X X X X 0 0 1 X 199551642 514482 2059341 5177121 3380408 193567936 208192013 5556692 -5710536 4991503 3495024 199551642 167345433 6981968 41700130 4682807 3152711 208192013 166023362 1501147 7245676 4422676 3002076 167345433 168217646 2592602 2340270 4143933 2983223 166023362 0.12400 0.68700 0.18900 1 0 74043 589539 663582 2262564 138195319 93853065 46604818 38971023 36201701 2769322 18854830 12219540 6635290 56673012 INVESTMENT IN SUBSIDIARY 1019503 C PRIVATE EQUITY FUNDS 16739235 F HEDGE FUNDS 10834661 F FUNDS OF FUNDS 25571042 F PARTNERSHIPS, REAL ASSETS 6517434 F PRIVATE DEBT FUNDS 619722 F 61301597 ANNUITIES PAYABLE 3277214 ASSET RETIREMENT OBLIGATION 3187525 DEPOSITS HELD IN CUSTODY OF OTHERS 327602 PAYROLL LIABILITIES 2793000 STUDENT DEPOSITS 608254 OTHER LIABILTIES 48649 10242244 X 59779842 -2824135 271048 -2553087 62332929 122617 50770935 50893552 113226481 69356946 319693 319693 69037253 122617 51226844 51349461 120386714 PART III, LINE 4: WORKS IN THE COLLECTION INCLUDE PAINTINGS, DRAWINGS, WORKS PRODUCED THROUGH PRINT; PHOTOGRAPHIC; OR OTHER TECHNIQUES WHICH PRODUCE MULTIPLE ORIGINALS; SCULPTURE IN MEDIA; ASSEMBLAGES; TEXTILE; CERAMICS; AND UTILITARIAN OR RITUAL OBJECTS IN ANY MEDIUM WHOSE PRINCIPLE VALUE RESIDES IN THEIR AESTHETIC MERIT. THE FINE ARTS COLLECTION EXISTS TO SUPPORT THE GENERAL MISSION OF THE COLLEGE BY PROMOTING AWARENESS AND UNDERSTANDING OF A BROAD SPECTRUM OF ARTISTIC EXPRESSION THROUGH DIVERSITY IN MEDIA, CULTURE, AND HISTORICAL PERSPECTIVE. AS UNIQUE EXPRESSIONS OF THE HUMAN CONDITION, WORKS IN THE COLLECTION INVIGORATE LEARNING AND TEACHING, AND PROVIDE EXPANDED OPPORTUNITIES FOR STUDY, RESEARCH, AND INDIVIDUAL PLEASURE. PART IV, LINE 2B: STUDENT DEPOSIT ACCOUNTS ARE HELD BY THE COLLEGE FOR VARIOUS STUDENT GROUPS ON CAMPUS AND ARE SHOWN AS LIABILITIES ON THE ORGANIZATION'S BALANCE SHEET. PART V, LINE 4: LUTHER COLLEGE USES THE EARNINGS FROM ITS ENDOWMENT FUND FOR SCHOLARSHIPS, PRIZES, AWARDS, LIBRARY SUPPORT, PROGRAM SUPPORT, FACULTY SUPPORT AND RESEARCH IN ACCORDANCE WITH DONOR RESTRICTIONS WHERE APPLICABLE. PART X, LINE 2: 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 MAY 31, 2023 AND 2022. THE COLLEGE'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: ACTUARIAL ADJUSTMENT -112,684. RENTAL EXPENSE 208,571. SUBSIDIARY REVENUE 175,161. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDED/UNFUNDED SCHOLARSHIPS 51,226,844. INTEREST RATE SWAP -455,909. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 208,571. SUBSIDIARY EXPENSES 111,122. PART XII, LINE 4B - OTHER ADJUSTMENTS: FUNDED/UNFUNDED SCHOLARSHIPS 51,226,844. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE COLLEGE CATALOG, VIEW BOOK, APPLICATION FOR ADMISSION, ADMISSIONS GENERAL INFORMATION BROCHURE, AND THE STUDENT HANDBOOK ALL CONTAIN THE COLLEGE'S NONDISCRIMINATORY POLICY. THESE MAJOR PUBLICATIONS ARE PROVIDED TO ALL STUDENTS THROUGHOUT THE ADMISSIONS AND ORIENTATION PROCESS. BECAUSE THE COLLEGE TYPICALLY DRAWS APPROXIMATELY 28% OF ITS STUDENTS FROM IOWA, 34% FROM MN, 10% FROM WI, 6% FROM IL, 11% FROM OUTSIDE THE 4 STATE AREA AND 11% INTERNATIONALLY WE BELIEVE THAT WE QUALIFY FOR THE PUBLICITY EXCEPTION NOTICE PROVIDED BY SECTION 4.01(2)(B) OF REV. PROC 75-50. THE COLLEGE IS ACTIVELY COMMITTED TO PROVIDING OPPORTUNITIES TO STUDENTS FROM DIVERSE BACKGROUNDS. A COORDINATED MULTICULTURAL AND INTERNATIONAL RECRUITMENT EFFORT EXISTS, COUPLED WITH A STRONG NETWORK OF ADVOCACY AND SUPPORT FOR STUDENTS FROM DIVERSE BACKGROUNDS. AS EVIDENCE OF THE COLLEGE'S COMMITMENT, NEARLY 13% OF ITS STUDENTS ARE RACIAL MINORITY STUDENTS. SCHEDULE E, PART I, LINE 6 LUTHER COLLEGE RECEIVES AID OR ASSISTANCE FROM THE GOVERNMENT AGENCIES AND PROGRAMS AS FOLLOWS: STUDENT FINANCIAL ASSISTANCE PROGRAMS CLUSTER, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS, FEDERAL WORK STUDY PROGRAM, FEDERAL PERKINS LOAN PROGRAM, FEDERAL PELL GRANT PROGRAM, FEDERAL DIRECT LOAN PROGRAM, ROBERT C BYRD HONORS SCHOLARSHIPS, TEACHERS EDUCATION ASSISTANCE FOR COLLEGE & HIGHER EDUCATION GRANTS, IOWA TUITION GRANT, IOWA GRANT. SOUTH AMERICA 0 0 PROGRAM SERVICES RECRUITMENT AND STUDY ABROAD PROGRAMS 49874 EUROPE (INCLUDING ICELAND AND GREENLAND) 1 1 PROGRAM SERVICES RECRUITMENT AND STUDY ABROAD PROGRAMS 1533098 CENTRAL AMERICA & CARIBBEAN 0 0 PROGRAM SERVICES RECRUITMENT AND STUDY ABROAD PROGRAMS 118646 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES RECRUITMENT AND STUDY ABROAD PROGRAMS 69737 EAST ASIA & THE PACIFIC 0 0 PROGRAM SERVICES RECRUITMENT AND STUDY ABROAD PROGRAMS 177049 RUSSIA AND NEWLY INDEPENDENT 0 0 PROGRAM SERVICES RECRUITMENT AND STUDY ABROAD PROGRAMS 783 NORTH AMERICA (INCLUDING CANADA) 0 0 PROGRAM SERVICES RECRUITMENT AND STUDY ABROAD PROGRAMS 39650 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 INVESTMENTS 1828464 CENTRAL AMERICA & CARIBBEAN 0 0 INVESTMENTS 17226836 1 1 0 0 1 1 3817301 17226836 21044137 1 0 0 1 1 0 PART III ACCOUNTING METHOD: SCHEDULE F, PART IV, LINE 4: THE COLLEGE INVESTS IN PARTNERSHIPS THAT HOLD DIRECT OR INDIRECT INTERESTS IN PASSIVE FOREIGN INVESTMENT COMPANIES. THE INVESTMENT PARTNERSHIPS HAVE PROPERLY FILED FORM 8621, OR THE UNDERLYING INVESTMENTS DID NOT GENERATE ANY UNRELATED BUSINESS INCOME. UNDER THESE FACTS, IT IS NOT NECESSARY FOR THE COLLEGE TO FILE FORM 8621. SCHEDULE F, PART IV, LINE 5: THE COLLEGE INVESTS IN PARTNERSHIPS THAT HOLD DIRECT OR INDIRECT INTERESTS IN FOREIGN PARTNERSHIPS. HOWEVER, THE COLLEGE DOES NOT MEET THE FILING REQUIREMENTS OF FORM 8865. GOLF OUTING 16716 9100 7616 549 6448 2613 16716 9100 7616 549 6448 2613 9610 -1994 1 MERIT-BASED STUDENT FINANCIAL ASSISTANCE 543 36399847 NEED-BASED STUDENT FINANCIAL ASSISTANCE 877 10527784 INTERNATIONAL STUDENT FINANCIAL ASSISTANCE 182 4299213 PART I, LINE 2: STUDENTS RECEIVING SCHOLARSHIPS AND FELLOWSHIPS ARE DETERMINED BY THE OFFICE OF FINANCIAL AID THROUGH CAREFUL STUDY OF THE INFORMATION ON THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA), THE STUDENT'S ACADEMIC RECORD, TEST SCORES, AND RECOMMENDATIONS. DETAILED RECORDS AND STATISTICS ARE MAINTAINED BY THE OFFICE OF FINANCIAL AID AND THE OFFICE OF ASSESSMENT AND INSTITUTIONAL RESEARCH IN REGARDS TO ALL FINANCIAL AID AWARDED TO STUDENTS OF THE COLLEGE, INCLUDING GRANTS AND SCHOLARSHIPS. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 JENIFER K WARD PRESIDENT 267631 0 0 0 27000 0 14985 0 40744 0 350360 0 0 0 BRADLEY CHAMBERLAIN VP FOR MISSION & COMMUNICATION 132850 0 0 0 21064 0 8101 0 46605 0 208620 0 0 0 ANDREW BAILEY VP FINANCE/ADMIN - OUTGOING 137094 0 0 0 7461 0 7968 0 30721 0 183244 0 0 0 PART I, LINE 1A LUTHER COLLEGE PROVIDES A HOUSE, CLEANING SERVICE AND UTILITIES FOR THE PRESIDENT OF THE COLLEGE. THESE BENEFITS ARE LISTED IN THE WRITTEN COMPENSATION POLICY FOR THE COLLEGE AND ARE ALSO IN THE WRITTEN EMPLOYMENT CONTRACT OF THE PRESIDENT. THE HOUSING AND UTILITIES ARE NOT TREATED AS TAXABLE COMPENSATION BECAUSE THE PRESIDENT'S HOUSE IS USED FOR COLLEGE BUSINESS AND MEETINGS TO BUILD RELATIONSHIPS WITH PROSPECTIVE DONORS TO THE COLLEGE. A CITY OF DECORAH IA 426004485 2015-01-12 6868000 CURRENTLY REFUND CITY OF DECORAH SERIES 2010 BONDS ISSUED 12/21/2010 0 0 0 B IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 2017-09-01 20945000 CURRENTLY REFUND IA HIGHER EDUCATION LOAN AUTHORITY SERIES 2011 0 0 0 A 2616853 6868000 20174 6847826 2015 1 0 1 1 B 5934416 20945000 115000 20830000 2017 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 1 1 0 0 0 1 A 0 0 0 1 1 0 0 0 1 B 0 0 0 1 1 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: CITY OF DECORAH IA DATE THE REBATE COMPUTATION WAS PERFORMED: 12/01/2015 ISSUER NAME: IOWA HIGHER EDUCATION LOAN AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 09/01/2017 37750 MERIT SCHOLARSHIP STUDENT FINANCIAL AID X 2 755 FMV X 185 FMV X 701 FMV X 21 221094 FMV X MUSICAL INSTRUMENTS 1 2000 FMV X OTHER 1 700 FMV 0 0 1 1 PART I, COLUMN (B): THE AMOUNT IN COLUMN (B) IS THE NUMBER OF CONTRIBUTIONS. PART I, LINE 32B: REAL ESTATE AGENTS OR ART DEALERS USED TO SELL CONTRIBUTIONS OF REAL PROPERTY. FINANCIAL ADVISORS ARE USED TO MANAGE CONTRIUTIONS OF CRUTS. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THIS CORPORATION SHALL BE THOSE INDIVIDUALS HOLDING THE FOLLOWING POSITIONS AND OFFICES (A) THE VOTING MEMBERS OF THE CHURCHWIDE ASSEMBLY OF THE EVANGELICAL LUTHERAN CHURCH IN AMERICA ENTITLED TO VOTE AT SUCH MEETINGS CHOSEN IN ACCORDANCE WITH THE DISCIPLINE AND USAGE OF SUCH CHURCH, OR ITS SUCCESSOR. SUCH MEMBERS SHALL REMAIN MEMBERS OF THE CORPORATION UNTIL THE CONVENING OF THE SUCCEEDING CHURCHWIDE ASSEMBLY OF THE EVANGELICAL LUTHERAN CHURCH IN AMERICA AT WHICH TIME SUCH MEMBERS SHALL GIVE PLACE TO THE VOTING MEMBERS AT SUCH SUCCEEDING CHURCHWIDE ASSEMBLY, IN ACCORDANCE WITH THE DISCIPLINE AND USAGE OF SAID CHURCH, OR ITS SUCCESSOR. (B) THE MEMBERS OF THE BOARD OF REGENTS OF THIS CORPORATION. (C) THE PRESIDENT OF THE COLLEGE OPERATED BY THIS CORPORATION (D) THE OFFICERS OF THE ADMINISTRATION OF THE COLLEGE. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BODY OF LUTHER COLLEGE IS THE BOARD OF REGENTS. THE BOARD OF REGENTS ARE LISTED AS MEMBERS OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PREPARED BY THE ACCOUNTING & RISK MANAGER, REVIEWED BY THE CONTROLLER, AND IS REVIEWED BY THE VP FOR FINANCE AND ADMINISTRATION. THE 990 IS THEN SENT TO THE FIRM OF BAKER TILLY US LLP FOR REVIEW AND ENTRY INTO THEIR TAX SOFTWARE. AFTER ALL REVIEWS ARE COMPLETED, THE 990 IS PRESENTED TO THE AUDIT COMMITTEE FOR THEIR REVIEW AND APPROVAL. AFTER AUDIT COMMITTEE APPROVAL, THE 990 IS SENT TO EACH BOARD MEMBER, AND THE COMPLETED 990 IS SIGNED BY THE VP FOR FINANCE AND ADMINISTRATION, AND A PARTNER FROM BAKER TILLY US LLP AND IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C LUTHER COLLEGE'S CONFLICT OF INTEREST POLICY AND DISCLOSURE STATEMENT IS SENT OUT TO THE BOARD OF REGENTS, AUDIT COMMITTEE, INVESTMENT COMMITTEE, PRESIDENT, VICE PRESIDENTS, AND KEY EMPLOYEES OF THE COLLEGE IN MAY OF EACH YEAR. EACH RECIPIENT IS REQUIRED TO READ THE POLICY AND TO COMPLETE, SIGN, AND RETURN THE DISCLOSURE STATEMENT TO THE OFFICE FOR FINANCIAL SERVICES TO BE REVIEWED FOR POTENTIAL INTERESTS THAT COULD GIVE RISE TO CONFLICTS. LUTHER COLLEGE'S CONFLICT OF INTEREST POLICY AND DISCLOSURE STATEMENT ADDRESSES ALL AREAS OF CONCERN EXPRESSED ON FORM 990. FORM 990, PART VI, SECTION B, LINE 15 THE DIRECTOR OF HUMAN RESOURCES AND THE PRESIDENT OF THE COLLEGE WILL GATHER THE FOLLOWING BENCHMARK SALARY DATA: 1. MEDIAN AND 95TH PERCENTILE SALARIES FOR CUPA (COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION) PRIVATE RELIGIOUS COLLEGES WITH COMPARABLE ENROLLMENT. 2. MEDIAN SALARIES FOR 15 CUPA (COLLEGES AND UNIVERSITIES PROFESSIONAL ASSOCIATION) COLLEGES. 3. MEDIAN AND MAXIMUM SALARIES FOR ACM (ASSOCIATED COLLEGES OF THE MIDWEST). THE PRESIDENT OF THE COLLEGE WILL REVIEW AND PRESENT THE PRESIDENTIAL AND VICE PRESIDENTIAL BENCHMARK INDICATORS TO THE BOARD OF REGENTS. THE BOARD OF REGENTS REVIEWS THE SALARY BENCHMARK DATA AND DETERMINES AND APPROVES COMPENSATION FOR THE PRESIDENT, PROVOST, VICE PRESIDENTS, AND CEO OF THE COLLEGE. THE BOARD OF REGENTS ALSO REVIEWS THE NON-SALARY COMPENSATION BENEFITS PROVIDED TO THE OFFICERS. THE PRESIDENT NOTIFIES THE DIRECTOR OF HUMAN RESOURCES OF THE APPROVAL OF COMPENSATION FOR THE PRESIDENT AND VICE PRESIDENTS. THIS INFORMATION WILL BE RECORDED IN THE MINUTES OF THE MEETING AND WILL BE MAINTAINED IN A CONFIDENTIAL ARCHIVE. THIS PROCESS WAS LAST COMPLETED IN AUGUST 2022. FORM 990, PART VI, SECTION C, LINE 19 COPIES OF LUTHER COLLEGE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AUDITED FINANCIAL STATEMENTS, AND FORMS 990 & 990-T ARE AVAILABLE TO THE PUBLIC UPON REQUEST AT THE OFFICE FOR FINANCIAL SERVICES, 700 COLLEGE DRIVE, DECORAH, IA 52101. THE AUDITED FINANCIAL STATEMENTS ARE ALSO AVAILABLE ONLINE AT WWW.LUTHER.EDU/FINANCIALSERVICES. FORM 990, PART XI, LINE 9: ACTUARIAL ADJUSTMENT -112,684. INTEREST RATE SWAP 455,909. SUBSIDIARY REVENUE 175,160. SUBSIDIARY EXPENSE -111,121. LUTHER COLLEGE WIND ENERGY PROJECT LLC 700 COLLEGE DRIVE DECORAH IA 52101 352366881 PRODUCTION OF ELECTRICITY IA 0 0 LUTHER COLLEGE VENTURES INC LUTHER COLLEGE VENTURES INC 700 COLLEGE DRIVE DECORAH IA 52101 273945752 HOLDING COMPANY IA N/A C 175159 1036503 1.00000 1 CHARITABLE REMAINDER UNITRUSTS (31) 700 COLLEGE DRIVE DECORAH IA 52101 420680466 TRUST IA N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0