2024-05-02T09:26:15-05:00 2023-06-30 450250958 Eide Bailly LLP 2950 E Harmony Rd Ste 290 Fort Collins CO 805283429 990 2022-07-01 841029228 Naropa University NARO 3034440202 2130 Arapahoe Ave Boulder CO 80302 Spencer Conroy Chief Financial Officer 3034440202 2024-04-30 1 Spencer Conroy 999009999 1 Kyle Fritch CPA P01313374 9702238825 2024-04-30 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z Charles Lief 2130 Arapahoe Ave Boulder CO 80302 31856228 0 X www.naropa.edu X 1974 CO Naropa University is North America's leading institution of contemplative education. 22 21 656 20 1358 0 3110759 2716073 20636858 29114426 3800732 25729 0 0 27548349 31856228 1237336 7103557 0 0 17833789 18675290 0 0 361833 7027170 11237667 26098295 37016514 1450054 -5160286 33451644 35216612 15774547 20673208 17677097 14543404 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 0 25363350 6982720 27337521 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. 609419 61803 735346 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. 1656149 43843 659535 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. 499097 15191 382024 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. 499097 15191 382024 28128015 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 0 0 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 1 146 0 1 656 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 22 21 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 385061 0 128709 Tyler Kelsch-VP of Operations /COO & CFO (until Oct 2022) 40.00 X 193466 0 24733 Ann Marie Klotz-VP for Enroll ment,Marketing & Student Success 40.00 X 169650 0 26002 Sue Hammond West-Provost & VP for Academic Affairs 40.00 X 144527 0 48891 Linda Black Dean of GSCP 40.00 X 156728 0 20565 Regina Smith-VP for Mission Culture & Inclusive Community 40.00 X 118217 0 26915 Joy Valania Special Advisor to President 40.00 X 100035 0 4931 Ken Gotsch COO & CFO (until June 2023) 40.00 X 0 0 0 Tyler Norris Chair 1.00 X X 0 0 0 Kendra Sandoval Vice Chair 1.00 X X 0 0 0 Marty Janowitz Trustee 1.00 X 0 0 0 Jerry Colonna Trustee 1.00 X 0 0 0 Vijay Singh Trustee 1.00 X 0 0 0 Lynne Katzmann Trustee 1.00 X 0 0 0 Mark Wilding Trustee 1.00 X 0 0 0 Judith Dack Trustee 1.00 X 0 0 0 Samantha Sanderson Trustee 1.00 X 0 0 0 Suzanne Benally Trustee 1.00 X 0 0 0 David Chivers Trustee 1.00 X 0 0 0 Stephanie Kaza Trustee 1.00 X 0 0 0 Quan Nghe Trustee 1.00 X 0 0 0 Dan Wolpert Trustee 1.00 X 0 0 0 Joe Cassidy Trustee 1.00 X 0 0 0 Vanessa Kelly Trustee 1.00 X 0 0 0 Lori Laser Trustee (from June 2023) 1.00 X 0 0 0 Tara Trujillo Trustee (from June 2023) 1.00 X 0 0 0 Jacky Sabin Trustee (from June 2023) 1.00 X 0 0 0 Mara Ferris Trustee (from June 2023) 1.00 X 0 0 0 Lorenzo Gonzalez Faculty Trustee (from Oct 2022) 1.00 X 0 0 0 Cam Bottoms Student Trustee (until June 2023) 1.00 X 0 0 0 Carla Sherrell Trustee (until Nov 2022) 1.00 X 0 0 0 1267684 0 280746 7 0 1 0 Ellucian 62578 Collections Center Drive Chicago IL 60693 ERP, IT Management & Consulting 1552010 Redhead Media 490 Edgewood Drive Colchester VT 05446 Marketing Services 324916 The Registry 3 Centennial Drive Suite 320 Peabody MA 01960 Higher Ed Consultant 303351 RSM US LLP 1 American Square Suite 2800 Indianapolis IN 46282 Interim Controller/Consultant 190537 Plante Moran 3000 Towncenter Dr Suite 400 Southfield MI 48075 Accounting & Audit Services 172050 6 694037 2022036 298153 2716073 Tuition and Fees 611710 27142077 27142077 Auxiliary Enterprise - Alaya Pres 611710 735346 735346 Auxiliary Activities - Housing 611710 659535 659535 Counseling Revenue 611710 382024 382024 195444 195444 29114426 25729 1358 24371 31856228 29114426 1358 24371 7103557 7103557 1058358 246210 749796 62352 14563630 11321627 3142045 99958 180107 141958 38149 1766477 1247247 503702 15528 1106718 780933 315264 10521 47726 47726 117415 117415 265546 265546 63358 63358 1938180 789550 1084328 64302 553357 118334 417998 17025 490046 345735 130578 13733 2389344 1915057 434817 39470 2617708 1970742 637986 8980 914631 889768 16229 8634 562552 450885 102374 9293 483646 387642 88015 7989 274076 340 273736 Repairs and Maintenance 375051 273399 97604 4048 Education Materials and 145031 145031 37016514 28128015 8526666 361833 4328483 327502 4732272 2749157 2981556 350847 1269091 1351628 195135 127728 543818 223838 25951958 11783130 14422972 14168828 4908541 4590608 7858 61918 11326476 33451644 35216612 1298745 2477594 2209005 5695170 4772506 2500000 8780632 8714103 15774547 20673208 X 13520863 10310846 4156234 4232558 17677097 14543404 33451644 35216612 X -5160286 417759 -2867268 4476102 X 0 1 X 0 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 92339 X X 0 4291892 5000 468149 67561 84372 4613108 5635034 25604 -589898 778848 4291892 5426786 736525 528277 5635034 8434504 16032 254195 3186945 5517786 7971345 32858 443785 104484 8343504 0.29290 0.65450 0.05260 0 0 337434 3669950 4007384 222656 15790285 7147530 8865411 88219 64803 23416 4019117 3783403 235714 1824297 787394 1036903 14168828 Security Deposits 16000 Operating Lease Right of Use Assets 8283985 Employee Retention Credit Receivable 3026491 11326476 Lease Liability 8714103 8714103 X 25107072 417759 -7103557 -6685798 31792870 63358 63358 31856228 29849599 0 29849599 63358 7103557 7166915 37016514 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 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 2020. Part XI, Line 2d - Other Adjustments: Student Scholarships Netted With Income on the Audited Financials -6,997,911. Preschool Scholarships Netted With Income on the Audited Financials -61,803. Housing Discounts Netted With Income on the Audited Financials -43,843. Part XII, Line 4b - Other Adjustments: Student Scholarships Netted With Income on the Audited Financials 6,997,911. Preschool Scholarships Netted With Income on the Audited Financials 61,803. Housing Discounts Netted With Income on the Audited Financials 43,843. 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. 1 Scholarships, Tuition Discounts, Student Aid 818 6997911 Alaya Preschool financial need based assistance 19 61803 Housing Discount 8 43843 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 385061 0 0 0 0 0 9969 0 119912 0 514942 0 0 0 Tyler Kelsch-VP of Operations /COO & CFO (until Oct 2022) 193466 0 0 0 0 0 3995 0 21267 0 218728 0 0 0 Ann Marie Klotz-VP for Enroll ment,Marketing & Student Success 169650 0 0 0 0 0 4596 0 21830 0 196076 0 0 0 Sue Hammond West-Provost & VP for Academic Affairs 144527 0 0 0 0 0 4279 0 44950 0 193756 0 0 0 Linda Black Dean of GSCP 156728 0 0 0 0 0 4163 0 17073 0 177964 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. 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 782539 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 Charles Lief University President 75000 Residence Rental 0 X 2 2158 Est. Resale Value X 8182 Est. Resale Value X 2 287813 Avg. high/ low price 0 0 1 0 Part I, Column (b): Column (b) is the number of contributions contributed. Form 990, Part VI, Section A, line 3 The role of Chief Financial Officer was being filled by a consultant through the Registry of College and University Presidents. Ken Gotsch oversaw the areas of finance, budgeting, facilities, information technology, financial aid, Alaya preschool, Naropa Community Counseling Center, and university events. The total compensation to the consulting firm for Ken's services was $47,726. 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 ad 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: Implementation of ASC 842 4,476,102.