2024-02-26T14:19:00-06:00 2023-06-30 366055558 GRANT THORNTON LLP 75 STATE ST 13TH FLOOR BOSTON MA 02109 990 2022-07-01 221494428 BLOOMFIELD COLLEGE OF MONTCLAIR STATE UNIVERSITY INC BLOO 9737489000 467 FRANKLIN STREET BLOOMFIELD NJ 07003 MICHAEL GALVIN TREASURER 9737489000 2024-02-26 1 MICHAEL GALVIN 999009999 0 ERIN COUTURE P01390592 6177237900 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z MARCHETA EVANS 467 FRANKLIN STREET BLOOMFIELD NJ 07003 57175321 0 X WWW.BLOOMFIELD.EDU X 1868 NJ TO PREPARE STUDENTS FOR ACADEMIC, PERSONAL AND PROFESSIONAL EXCELLENCE. 19 18 645 18 0 0 10161293 17485870 41689881 37865230 1803292 835758 203935 379104 53858401 56565962 16883810 15228404 0 0 20701470 23044811 23260 15477 1044040 17297958 18235299 54906498 56523991 -1048097 41971 93884575 92412562 35688980 32870136 58195595 59542426 X TO PREPARE STUDENTS TO ATTAIN ACADEMIC, PERSONAL AND PROFESSIONAL EXCELLENCE IN A MULTICULTURAL AND GLOBAL SOCIETY. 0 0 45880957 15228404 37865230 BLOOMFIELD COLLEGE IS AN INDEPENDENT COLLEGE HISTORICALLY RELATED TO THE PRESBYTERIAN CHURCH (U.S.A.). LOCATED IN THE NEW JERSEY/NEW YORK METROPOLITAN REGION, THE COLLEGE OFFERS ACADEMIC PROGRAMS LEADING TO THE BACHELOR OF ARTS AND BACHELOR OF SCIENCE DEGREES AND MASTERS IN ACCOUNTING, FINE ARTS, AND EDUCATION. THE MISSION OF BLOOMFIELD COLLEGE IS TO PREPARE STUDENTS TO ATTAIN ACADEMIC, PERSONAL AND PROFESSIONAL EXCELLENCE IN A MULTICULTURAL AND GLOBAL SOCIETY. PROGRAMS OF STUDY ARE ROOTED IN THE LIBERAL ARTS, AND ASSIST STUDENTS IN OBTAINING THE SKILLS, KNOWLEDGE, AND VALUES THEY NEED TO BECOME EMPOWERED INDIVIDUALS ENGAGED IN RENEWING THEMSELVES, THEIR RELATIONSHIPS, THEIR WORKPLACES, AND THEIR COMMUNITIES. (CONTINUED ON SCHEDULE O)THE FALL 2022 STUDENT BODY WAS APPROXIMATELY 1,153 (GRADUATE & UNDERGRADUATE) STUDENTS. THE UNDERGRADUATE STUDENT BODY IS 59.2% FEMALE, 48.5% AFRICAN AMERICAN, 31.7% HISPANIC, AND 8.2% WHITE. MANY BLOOMFIELD COLLEGE STUDENTS ARE FIRST GENERATION COLLEGE STUDENTS, OR PROFESSIONALS SEEKING TO KEEP PACE WITH A CHANGING MARKETPLACE. AS OF THE FALL 2022, 400/34.7% STUDENTS RESIDED ON CAMPUS. IN THE FALL OF 2022, BLOOMFIELD COLLEGE ENROLLED 331 NEW FRESHMAN AND TRANSFER STUDENTS. 230 OF THESE NEW STUDENTS WERE FULL-TIME TRADITIONAL UNDERGRADUATE FRESHMEN. 96.2% OF FRESHMAN AND 95.6% OF CONTINUING STUDENTS RECEIVED SOME FORM OF AID. AID IS DISTRIBUTED AS: 79% SCHOLARSHIPS AND GRANTS, 16% STUDENT LOANS, 4% PARENTAL LOANS AND 1% JOBS. A TOTAL OF 377 ENROLLED FRESHMAN WERE JUDGED TO HAVE NEED, AND 358 OF THESE WERE OFFERED AID. BLOOMFIELD COLLEGE OFFERS OVER 60 MAJORS AND AREAS OF CONCENTRATION AS WELL AS OTHER SPECIAL LEARNING OPPORTUNITIES SUCH AS HONORS PROGRAMS AND STUDY ABROAD. IN ADDITION TO THE UNDERGRADUATE CURRICULUM, BLOOMFIELD ALSO OFFERS A CONTINUING EDUCATION PROGRAM WITH OUR OFFICE OF INTERNATIONAL TRAINING AND PROFESSIONAL STUDIES (ITPS). ITPS OFFERS ONLINE CERTIFICATE PROGRAMS FOR THE CAREER-ORIENTED STUDENT. THEY ALSO HAVE CUSTOMIZED CORPORATE COURSES. THE AMERICAN LANGUAGE CENTER HAS YEAR-ROUND ESL CLASSES FOR THOSE LOOKING TO IMPROVE THEIR ENGLISH SKILLS. IN ADDITION, THEY ARE LINKED GLOBALLY WITH MANY SCHOOLS AND UNIVERSITIES FOR TRAINING OF INTERNATIONAL STUDENTS IN ENGLISH, NURSING, EDUCATION, HOSPITALITY, AND OTHER FIELDS OF STUDY. 45880957 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 1641 0 1 645 1 0 0 0 0 0 0 0 0 0 0 0 0 X 19 18 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 1 1 1 1 0 X SHERYLINE MCGEE 9737489000 467 FRANKLIN STREET BLOOMFIELD NJ 07003 DR MARCHETA EVANS PRESIDENT 38.00 0.00 X X 551275 0 36887 VERNON M ENDO CHAIR 5.00 0.00 X X 0 0 0 JOANNE T MARREN ESQ VICE-CHAIR 5.00 0.00 X X 0 0 0 DR MAUREEN C GRANT SECRETARY 5.00 0.00 X X 0 0 0 ADEBOLA A TAIWO TRUSTEE 5.00 0.00 X 0 0 0 ALISA C NORRIS TRUSTEE 1.00 0.00 X 0 0 0 CRAIG B LINDSAY TRUSTEE 1.00 0.00 X 0 0 0 DR GEORGE PRUITT TRUSTEE 1.00 0.00 X 0 0 0 DR JAMES LEE TRUSTEE 1.00 0.00 X 0 0 0 DR NICHOLAS CARLOZZI TRUSTEE 3.00 0.00 X 0 0 0 DR STEVEN M ROSE TRUSTEE 1.00 0.00 X 0 0 0 GLENN M REITER ESQ TRUSTEE 5.00 0.00 X 0 0 0 HANK UBEROI TRUSTEE 2.00 0.00 X 0 0 0 JACQUIE COLGAN TRUSTEE 3.00 0.00 X 0 0 0 LARRY I SILLS TRUSTEE 1.00 0.00 X 0 0 0 MELISSA BASTAN TRUSTEE 1.00 0.00 X 0 0 0 DR NEIL JASEY TRUSTEE 1.00 0.00 X 0 0 0 SANDRA L GONZALEZ ESQ TRUSTEE 1.00 0.00 X 0 0 0 SANFORD B PRATER TRUSTEE 5.00 0.00 X 0 0 0 STEPHEN A GLASSER TRUSTEE (THRU 08/2022) 5.00 0.00 X 0 0 0 CYNTHIA MCDANIEL VP FINANCE & ADMINISTRATION 38.00 0.00 X 221206 0 102408 DR MICHAEL PALLADINO - VP ACADEMIC AFFAIRS & DEAN OF FACULTY 38.00 0.00 X 248381 0 79906 KEVIN CAVANAGH - VP ENROLLMENT MANAGEMENT (THRU 01/2023) 38.00 0.00 X 276187 0 33912 SARAH LACZ VP ADVANCEMENT 38.00 0.00 X 168010 0 57028 SHELIA WOOTEN - DEAN STUDENT LIFE, ATHLETICS, & STUDENT AFFAIRS 38.00 0.00 X 154916 0 42769 ISMAT MIKKY PROFESSOR 38.00 0.00 X 150913 0 91904 DUNJA TRUNK PROFESSOR 38.00 0.00 X 130785 0 17359 CATHY MCCORMACK ASSISTANT PROFESSOR 38.00 0.00 X 162012 0 15157 ANDREW GERSTMAYR DIRECTOR OF EIS 38.00 0.00 X 132391 0 56676 LAURA HILL PROFESSOR & AVPAA 38.00 0.00 X 140162 0 43510 2336238 0 577516 34 0 1 0 GOURMET DINING LLC 285 MADISON AVENUE MADISON NJ 07940 DINING SERVICES 1690347 ABM INDUSTRIES PO BOX 643823 PTTSBURGH PA 15264 CLEANING SERVICES 649201 ALLIED UNIVERSAL PO BOX 828854 PHILADELPHIA PA 19182 SECURITY SERVICES 536225 CULLEN & DYKMAN LLP 100 QUENTIN ROOSEVELT BLVD GARDEN CITY NY 11530 LEGAL SERVICES 521735 ELLUCIAN COMPANY LP 62578 COLLECTIONS CENTER CHICAGO IL 60693 SOFTWARE SERVICES 341877 12 16251818 1234052 122886 17485870 TUITION AND FEES 611310 32731279 32731279 AUXILIARY ENTERPRISES 721310 5133951 5133951 37865230 822542 822542 15350 0 15350 15350 15350 622575 609359 13216 13216 13216 INSURANCE CLAIM 524298 175000 175000 PARKING 812930 26775 26775 VENDING 900099 25808 25808 136171 136171 363754 56565962 37865230 0 1214862 15228404 15228404 2130271 772743 942950 414578 16042072 12693347 3114773 233952 1089925 837725 233260 18940 2401801 1490360 819520 91921 1380742 1024939 310077 45726 810461 810461 292642 292642 15477 15477 37544 37544 3322524 1671503 1592061 58960 13442 9298 4144 619430 487848 99336 32246 1324710 1192404 118689 13617 1613845 1501250 104045 8550 383145 364828 17970 347 585208 471602 67595 46011 1246406 1128954 107651 9801 3730801 3379238 322227 29336 764642 711294 49297 4051 STUDENT FOOD SERVICES 1473148 1473148 BAD DEBT EXPENSE 705260 705260 EQUIPMENT 538056 120932 417124 ADMIN. EXPENSES 534717 498348 23395 12974 239318 117532 114233 7553 56523991 45880957 9598994 1044040 140521 1272788 14021472 13478578 1064487 911063 245301 172499 503267 491825 124316368 64366014 62546034 59950354 15363493 16135455 93884575 92412562 2099534 1539708 596123 303785 32511684 31025456 481639 1187 35688980 32870136 X 42943288 44167647 15252307 15374779 58195595 59542426 93884575 92412562 X 41971 885996 418864 X 0 1 X 1 1 1 X 3489864 4219038 19248768 10161293 17485870 54604833 3489864 4219038 19248768 10161293 17485870 54604833 54604833 596439 513121 421100 362209 837892 2730761 1085219 131557 67245 214795 363754 1862570 59198164 235177033 0.92240 0.91340 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: PARKING - 2018 AMOUNT: $ 53,125. 2019 AMOUNT: $ 37,103. 2020 AMOUNT: $ 11,525. 2021 AMOUNT: $ 28,375. 2022 AMOUNT: $ 26,775. REBATES - 2018 AMOUNT: $ 23,261. 2019 AMOUNT: $ 23,959. 2020 AMOUNT: $ 8,341. 2021 AMOUNT: $ 17,165. 2022 AMOUNT: $ 20,273. VENDING - 2018 AMOUNT: $ 50,478. 2019 AMOUNT: $ 29,996. 2020 AMOUNT: $ 7,862. 2021 AMOUNT: $ 24,479. 2022 AMOUNT: $ 25,808. SPIRITWEAR COMMISSIONS - 2020 AMOUNT: $ 6,119. 2021 AMOUNT: $ 4,737. 2022 AMOUNT: $ 5,800. MISCELLANEOUS INCOME - 2018 AMOUNT: $ 68,223. 2019 AMOUNT: $ 40,499. 2020 AMOUNT: $ 33,398. 2021 AMOUNT: $ 1,136. 2022 AMOUNT: $ 48,502. ARBITRATION SETTLEMENT - 2018 AMOUNT: $ 850,000. FUNDRAISING - 2018 AMOUNT: $ 40,132. 2021 AMOUNT: $ 29,043. UNCLAIMED PROPERTY REFUND - 2021 AMOUNT: $ 16,667. INSURANCE CLAIM - 2021 AMOUNT: $ 93,193. 2022 AMOUNT: $ 175,000. FORFEITED DEPOSITS - 2022 AMOUNT: $ 47,420. STUDENT FINES - 2022 AMOUNT: $ 14,176. 14833362 123958 1206646 428367 209285 37544 15488770 17019652 414080 -2036574 351393 178336 34067 14833362 14209684 555054 3372312 720240 368239 28919 17019652 14255359 195450 889779 727608 376165 27131 14209684 15133519 263753 982083 1404132 698966 20898 14255359 0.15610 0.66520 0.17870 0 0 3327045 3327045 101321545 46265866 55055679 2800152 2759298 40854 16557311 15340850 1216461 310315 310315 59950354 ACCRUED RETIREMENT BENEFIT OBLIGATION 1187 1187 X 42647436 885996 -14766978 -13880982 56528418 37544 37544 56565962 41300605 25570 25570 41275035 37544 15211412 15248956 56523991 PART V, LINE 4: THE ENDOWMENT CONSISTS OF APPROXIMATELY 100 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES (SCHOLARSHIPS AND PROGRAM SUPPORT). IT INCLUDES BOTH DONOR-RESTRICTED FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. THE COLLEGE HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT FUNDS WHILE ALSO MAINTAINING THE PURCHASING POWER OF THOSE ENDOWMENT ASSETS OVER THE LONG-TERM. THE COLLEGE HAS A POLICY OF APPROPRIATING FOR DISTRIBUTION EACH YEAR 4% OF ITS ENDOWMENT FUND'S AVERAGE FAIR VALUE OF THE AVERAGE OF THE PRIOR TWELVE QUARTERS PRECEDING THE FISCAL YEAR IN WHICH THE DISTRIBUTION IS PLANNED. THE PAYOUT FOR FY23 WAS 4%. PART X, LINE 2: THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND A SIMILAR PROVISION OF THE NEW JERSEY STATE INCOME TAX LAWS. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN REFLECTED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE COLLEGE HAS NO UNRECOGNIZED TAX BENEFITS AT JUNE 30, 2023 AND 2022. THE COLLEGE RECOGNIZES INTEREST AND PENALTIES ASSOCIATED WITH TAX MATTERS AS OPERATING EXPENSES AND INCLUDES ACCRUED INTEREST AND PENALTIES WITH ACCRUED EXPENSES IN THE STATEMENTS OF FINANCIAL POSITION. THERE WERE NO INTEREST OR PENALTIES PAID FOR THE YEARS ENDED JUNE 30, 2023 AND 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS -15,211,412. CHANGE IN NET PERIODIC BENEFIT OBLIGATION 444,434. PART XII, LINE 2D - OTHER ADJUSTMENTS: WRITE-OFF OF UNCOLLECTIBLE PLEDGES 25,570. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 15,211,412. 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 COLLEGE'S NONDISCRIMINATORY POLICY IS POSTED ON OUR WEBSITE. IN ADDITION, DURING THE REGISTRATION PERIOD, THE NONDISCRIMINATORY POLICY IS PUBLISHED THROUGH THE COURSE OFFERING CATALOG WHICH IS GIVEN TO EVERY STUDENT. WHEN RECRUITING STUDENTS THROUGH THE MAIL, ALL SOLICITATION MATERIALS ALWAYS CONTAIN THE NONDISCRIMINATORY POLICY. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES SIGNIFICANT FINANCIAL ASSISTANCE FROM GOVERNMENTAL AGENCIES IN THE FORM OF GRANTS. THE DISBURSEMENT OF FUNDS RECEIVED UNDER SUCH PROGRAMS GENERALLY REQUIRES COMPLIANCE WITH TERMS AND CONDITIONS SPECIFIED IN GRANT AGREEMENTS SUBJECT TO AUDIT BY GRANTOR AGENCIES. THE GRANT AGREEMENTS PROVIDE FOR POSSIBLE AUDITING OF EXPENDITURES BY GRANTOR AGENCIES AND POSSIBLE DISALLOWANCE OF CERTAIN EXPENDITURES. X X X X X X X 1 PLEDGEMINE 4630 WARREN PARKWAY WARRENVILLE IL 60555 FUNDRASING 0 36258 15477 20780 36258 15477 20780 1 INSTITUTIONAL SCHOLARSHIPS 1141 15228404 PART I, LINE 2: THE COLLEGE'S FINANCIAL AID OFFICE MONITORS ALL RECIPIENTS OF SCHOLARSHIP AWARDS TO DETERMINE BOTH INITIAL AND CONTINUING ELIGIBILITY BASED UPON THE CRITERIA FOR THE TYPE OF AWARD. VARIOUS CRITERIA MAY INCLUDE, BUT IS NOT LIMITED TO, ACADEMIC PERFORMANCE, FINANCIAL NEED, OR OTHER CRITERIA ESTABLISHED BY DONORS OF SCHOLARSHIP FUNDS. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 DR MARCHETA EVANS PRESIDENT 359001 0 99310 0 92964 0 30500 0 6387 0 588162 0 0 0 DR MICHAEL PALLADINO - VP ACADEMIC AFFAIRS & DEAN OF FACULTY 206375 0 41856 0 150 0 30500 0 49406 0 328287 0 0 0 CYNTHIA MCDANIEL VP FINANCE & ADMINISTRATION 185206 0 36000 0 0 0 27724 0 74684 0 323614 0 0 0 KEVIN CAVANAGH - VP ENROLLMENT MANAGEMENT (THRU 01/2023) 236616 0 39571 0 0 0 30475 0 3437 0 310099 0 0 0 ISMAT MIKKY PROFESSOR 150913 0 0 0 0 0 15080 0 76824 0 242817 0 0 0 SARAH LACZ VP ADVANCEMENT 122466 0 36749 0 8795 0 20862 0 36166 0 225038 0 0 0 SHELIA WOOTEN - DEAN STUDENT LIFE, ATHLETICS, & STUDENT AFFAIRS 154864 0 0 0 52 0 21256 0 21513 0 197685 0 0 0 ANDREW GERSTMAYR DIRECTOR OF EIS 132391 0 0 0 0 0 10739 0 45937 0 189067 0 0 0 LAURA HILL PROFESSOR & AVPAA 140162 0 0 0 0 0 13496 0 30014 0 183672 0 0 0 CATHY MCCORMACK ASSISTANT PROFESSOR 162012 0 0 0 0 0 13240 0 1917 0 177169 0 0 0 PART I, LINE 1A EFFECTIVE 08/01/2019, THE COLLEGE NO LONGER REQUIRES THE PRESIDENT TO MAINTAIN RESIDENCE ON CAMPUS. THE PRESIDENT'S COMPENSATION PACKAGE INCLUDES A TAXABLE HOUSING ALLOWANCE. OFFICERS 83543 SCHOLARSHIP MERIT SCHOLAR SCH L, PART III, GRANTS OR ASSISTANCE BENEFITTING INTERESTED PERSONS: THE COLLEGE GRANTED A SCHOLARSHIP TO TWO STUDENTS WHO ARE CHILDREN OF CURRENT OFFICERS. THE COLLEGE ENSURED THE GRANT WAS AWARDED BASED ON MERIT TO THE ELIGIBLE STUDENTS, WHO MET THE REQUIRED ACADEMIC STANDING. THE OFFICERS DID NOT HAVE ANY INFLUENCE IN THE DECISION MAKING PROCESS FOR AWARDING SCHOLARSHIPS. X 4 122886 AVG. HIGH/LOW METHOD 0 0 0 PART I, COLUMN (B): THE QUANTITIES LISTED IN PART I, COLUMN B REPRESENT THE NUMBER OF CONTRIBUTIONS RECEIVED. EXPLANATION REGARDING THE MERGER WITH MONTCLAIR STATE UNIVERSITY: BLOOMFIELD COLLEGE AND MONTCLAIR STATE UNIVERSITY MERGED ON JUNE 30, 2023 AT 11.59 P.M., WHICH RESULTED IN BLOOMFIELD COLLEGE'S MERGER WITH AND INTO A NEWLY CREATED NOT-FOR-PROFIT CORPORATION CREATED UNDER NEW JERSEY LAW CALLED BLOOMFIELD COLLEGE OF MONTCLAIR STATE UNIVERSITY IN WHICH MONTCLAIR STATE UNIVERSITY IS THE SOLE MEMBER. THE MERGER WAS ENABLED BY LEGISLATION CODIFIED AT L. 2023, C. 65 AND SIGNED ON JUNE 30, 2023. BLOOMFIELD COLLEGE SERVED A DIVERSE POPULATION AND PREPARED STUDENTS FOR SUCCESS IN A MULTICULTURAL AND GLOBAL SOCIETY. WHILE BLOOMFIELD COLLEGE IS NO LONGER IN EXISTENCE FOLLOWING THE MERGER, BLOOMFIELD COLLEGE OF MONTCLAIR STATE UNIVERSITY WILL CONTINUE TO OPERATE AND SERVE THESE SAME COMMUNITIES. AS THE TRANSACTION HAS ALREADY TAKEN PLACE, THE ORGANIZATION'S FORM 990 REFLECTS THE NEW NAME AS REFLECTED IN INTERNAL REVENUE SERVICE RECORDS. FORM 990, PART VI, SECTION B, LINE 11B AS A RESULT OF THE MERGER OF BLOOMFIELD COLLEGE INTO THE NEWLY CREATED BLOOMFIELD COLLEGE OF MONTCLAIR STATE UNIVERSITY INC. ON JUNE 30, 2023, THE 990 REVIEW PROCESS WAS CONDUCTED BY THE BOARD OF TRUSTEES OF THE NEW ENTITY. THE VICE PRESIDENT OF FINANCE AND ADMINISTRATION REVIEWED A COMPLETE COPY OF THE FORM 990 WITH THE BOARD OF TRUSTEES PRIOR TO FILING WITH THE IRS. THE NEW TRUSTEES ARE: PRESTON PINKETT, KENT SLUYTER, AND MARY COMITO. MANAGEMENT AND THE ORGANIZATION'S TAX CONSULTANTS ALSO PRESENTED A COMPLETE COPY OF THE FORM 990 TO THE AUDIT COMMITTEE OF MSU FOR ITS REVIEW BEFORE FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CURRENT CONFLICT OF INTEREST POLICY IS HOUSED WITHIN CHAPTER II ARTICLE G OF THE BYLAWS AND ONLY COVERS TRUSTEES. OFFICERS AND KEY EMPLOYEES ARE NOT COVERED BY THE CURRENT POLICY AND ARE NOT REQUIRED TO DISCLOSE CONFLICTS. THE COLLEGE IS CURRENTLY DRAFTING A NEW CONFLICT OF INTEREST POLICY THAT WILL ADD OFFICERS AND KEY EMPLOYEES TO THE PERSONS REQUIRED TO DISCLOSE CONFLICTS OF INTEREST. UNDER CHAPTER II, ARTICLE G OF THE COLLEGE BYLAWS THE BOARD OF TRUSTEES ARE COVERED BY THE CONFLICT OF INTEREST POLICY. IN GENERAL, A CONFLICT CAN OCCUR IN TWO CASES. FIRST, IF THERE IS AN EXISTING OR POTENTIAL FINANCIAL OR OTHER INTEREST THAT IMPAIRS OR APPEARS TO IMPAIR THE TRUSTEES INDEPENDENT UNBIASED JUDGMENT. SECOND, IF A FAMILY MEMBER OR ORGANIZATION IN WHICH THE TRUSTEE HAS A CONTROLLING INTEREST HAS AN RELATIONSHIP WITH THE COLLEGE THAT WOULD IMPAIR THE UNBIASED AND INDEPENDENT JUDGMENT OF THE TRUSTEE. CONFLICTS WOULD BE REVIEWED BY THE BOARD OF TRUSTEES. THERE IS A REQUIRED RECUSAL FROM VOTING IN WHICH A CONFLICT OCCURS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE PRESIDENT IS REVIEWED BY THE COMPENSATION COMMITTEE AND ALSO REVIEWED BY THE BOARD IN CLOSED SESSION. THE COLLEGE PREPARES A STUDY OF COMPARABLE POSITIONS BASED ON DATA OBTAINED BY THE COLLEGE AND UNIVERSITY PERSONNEL ASSOCIATION. DOCUMENTATION OF DELIBERATIONS AND DECISIONS ARE DOCUMENTED BY MINUTES. THIS PROCESS WAS LAST UNDERTAKEN IN 2023. COMPENSATION FOR THE OFFICERS IS REVIEWED BY THE PRESIDENT, BOARD OF TRUSTEES CHAIRMAN AND THE EXECUTIVE COMMITTEE. THE COLLEGE PREPARES A STUDY OF COMPARABLE POSITIONS BASED ON DATA OBTAINED BY THE COLLEGE AND UNIVERSITY PERSONNEL ASSOCIATION. DOCUMENTATION OF DELIBERATIONS AND DECISIONS ARE DOCUMENTED BY MINUTES. THIS PROCESS WAS LAST UNDERTAKEN IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION PROVIDES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN NET PERIODIC BENEFIT OBLIGATION 444,434. WRITE-OFF OF UNCOLLECTIBLE PLEDGES -25,570.