2025-05-09T15:28:12-05:00 2024-06-30 390859910 BAKER TILLY ADVISORY GROUP LP 790 N WATER ST SUITE 2000 MILWAUKEE WI 53202 990 2023-07-01 390806202 EDGEWOOD COLLEGE INC EDGE 6086634861 1000 EDGEWOOD COLLEGE DRIVE MADISON WI 53711 ANDREW MANION PRESIDENT 6086634861 2025-05-09 1 1 TROY MARINE CPA P00187863 4147775500 2025-04-29 2023 2025-03-06 01:10:19Z ANDREW MANION 1000 EDGEWOOD COLLEGE DRIVE MADISON WI 53711 65815862 0 0928 X WWW.EDGEWOOD.EDU X 1927 WI TO PROVIDE A QUALITY HIGHER EDUCATION. 21 18 1070 30 33206 7155 3094800 3049446 52942715 54568674 1697339 4178827 1262573 1095625 58997427 62892572 17976684 18463126 0 0 26738579 27960337 0 0 1417887 14847884 15824771 59563147 62248234 -565720 644338 154596804 159379864 17016241 16129424 137580563 143250440 X EDGEWOOD COLLEGE, ROOTED IN THE DOMINICAN TRADITION, ENGAGES STUDENTS WITHIN A COMMUNITY OF LEARNERS COMMITTED TO BUILDING A JUST AND COMPASSIONATE WORLD. THE COLLEGE EDUCATES STUDENTS FOR MEANINGFUL PERSONAL AND PROFESSIONAL LIVES OF ETHICAL LEADERSHIP, SERVICE, AND A LIFELONG SEARCH FOR TRUTH. 0 0 49624635 18425416 48788899 INSTRUCTION- POST-SECONDARY EDUCATION, WITH PROGRAMS FOR TRADITIONAL UNDERGRADUATES, ACCELERATED PROGRAMS FOR RETURNING ADULTS, GRADUATE PROGRAMS, AND DOCTORAL EDUCATION. FTE ENROLLMENT OF 1949. 4765495 37710 5758569 AUXILLARY SERVICES- RESIDENCE HALL AND FOOD SERVICE SERVING APPROXIMATELY 496 STUDENTS. 54390130 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 1 0 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 0 0 0 0 0 1 2489 0 1 1070 1 1 1 0 0 0 0 1 1 0 0 0 1 1 0 0 0 X 21 18 0 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X JANE WILHELM 6086634861 1000 EDGEWOOD COLLEGE DRIVE MADISON WI 53711 ANDREW MANION PRESIDENT 40.00 X X 338937 0 20325 LOUISE STRACENER TRUSTEE/FACULTY 40.00 X 72918 0 4797 BEATRIZ AGUILAR TRUSTEE/FACULTY 40.00 X 66866 0 20285 DAVE WITTWER CHAIR 1.00 X X 0 0 0 JAC GARNER VICE CHAIR 1.00 X X 0 0 0 FRANK BYRNE SECRETARY 1.00 X X 0 0 0 WENDY PERKINS TREASURER 1.00 X X 0 0 0 DAN BLAKE BOARD MEMBER 1.00 X 0 0 0 DAN FAHEY BOARD MEMBER 1.00 X 0 0 0 DARRELL BEHNKE BOARD MEMBER 1.00 X 0 0 0 JEANAN YASIRI MOE BOARD MEMBER 1.00 X 0 0 0 JOE GOTHARD BOARD MEMBER 1.00 X 0 0 0 JUDITH SCHAEFER OP BOARD MEMBER 1.00 X 0 0 0 KATHLEEN PHELAN OP BOARD MEMBER 1.00 X 0 0 0 KEVIN O'DRISCOLL BOARD MEMBER 1.00 X 0 0 0 NYRA JORDAN BOARD MEMBER 1.00 X 0 0 0 ROXANNE BRAZEAU BOARD MEMBER 1.00 X 0 0 0 RYAN COLLINS BOARD MEMBER 1.00 X 0 0 0 SANDRA DOCTER BOARD MEMBER 1.00 X 0 0 0 TRACY SCHWEITZER BOARD MEMBER 1.00 X 0 0 0 TYRONE WILLIAMS BOARD MEMBER 1.00 X 0 0 0 AMANDA BERG VP OF FIN. AFFAIRS 40.00 X 176135 0 13339 WILLIAM MANGAN VP FOR ACADEMIC AFFAIRS 40.00 X 204661 0 11182 MARGARET NOREUIL DEAN OF NURSING, BUS. & HEALTH 40.00 X 192902 0 14946 PAUL EGGERS VP FOR GROWTH AND INNOVATION 40.00 X 158366 0 10246 KATIE VESPERMAN VP INSTITUTIONAL ADVANCEMENT 40.00 X 152367 0 61511 ARHELIA DALLA COSTA BEHM VP FOR ADMINISTRATION 40.00 X 135021 0 32422 VICTORIA PALMISANO ASSOC DEAN BUSINESS 40.00 X 131415 0 8563 MATTHEW SULLIVAN VP FOR STUDENT DEVELOPMENT 40.00 X 124625 0 15549 COLLEEN GULLICKSON ASSOC DEAN NURSING 40.00 X 123861 0 7955 QUINN MULLIKIN ASSOC DEAN NURSING 40.00 X 122569 0 22303 2000643 0 243423 22 0 1 0 SODEXO OPERATIONS LLC 915 MEETING STREET NORTH BETHESDA MD 20852 FOOD SERVICE VENDOR 1332823 UPGRAD INC ONE THOMAS CIRCLE NW SUITE 700 WASHINGTON DC 20005 MARKETING AND STUDENT SUPPORT SERVICES 634809 1901 INC 2801 SYENE ROAD MADISON WI 53713 HVAC CONTRACTOR 569495 CDW GOVERNMENT LLC 75 REMITTANCE DR STE 1515 CHICAGO IL 60675 IT TECHNOLOGY PURCHASING GROUP 377047 WAICU 122 WEST WASHINGTON AVENUE MADISON WI 53703 MEMBERSHIP SERVICES & IT CONSORTIUM 372170 24 24148 291360 2733938 61838 3049446 EDUCATIONAL SERVICES 900099 48807866 48807866 ROOM AND BOARD 721310 5760808 5727602 33206 54568674 2507611 2507611 367587 6082 361505 361505 361505 4573980 2902764 1671216 1671216 1671216 8802 24148 13819 -5017 -5017 4360 625 3735 3735 INVESTMENT INCOME BENE 900099 700000 700000 CELL TOWER LEASE 900099 23402 23402 MANAGEMENT SERVICES - 561000 12000 12000 735402 62892572 54547468 33206 5262452 18463126 18463126 1330171 388765 856142 85264 20960372 16447855 3786817 725700 1074957 787833 245627 41497 3001896 2200081 685932 115883 1592941 1167462 363986 61493 98066 98066 92661 92661 128205 128205 1057902 636874 321028 100000 495398 490933 2960 1505 429897 287159 93811 48927 2018392 1239335 760993 18064 2516411 368098 2148313 290860 208903 58783 23174 286339 256957 29382 2494557 2074165 402460 17932 203748 203748 AUXILLARY EXPENSES 1594487 1594487 STUDENT SERVICES 1297999 1297999 INSTRUCTION 1003924 1003924 OPERATION AND MAINTENAN 0 4433364 -4465704 32340 1815925 1042810 627007 146108 62248234 54390130 6440217 1417887 3350 3350 25571344 25154284 554348 425788 1329236 1718509 219570 146078 59420 59702 878823 857290 97794870 48303522 50509402 49491348 56862993 61952387 18608318 19571128 154596804 159379864 3272162 3096484 1122565 1548976 9740000 8875000 2881514 2608964 17016241 16129424 X 101971157 104571618 35609406 38678822 137580563 143250440 154596804 159379864 X 644338 3620757 1404782 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 0 50762939 865147 6242928 359190 1638860 55872964 46847584 1360515 4500920 348665 1597415 50762939 52995210 1421765 -5756581 311340 1501470 46847584 40906163 1082227 12759670 293315 1459535 52995210 41911319 628789 88700 291215 1431430 40906163 0.67260 0.20590 0.12150 0 0 1604456 1604456 86211662 40380516 45831146 7161305 6374897 786408 2817447 1548109 1269338 49491348 BENEFICIAL INTEREST IN PRIVATE FOUNDATION 16327011 INVESTMENT IN JOINT VENTURE 189733 INTEREST RATE SWAP AGREEMENT 160567 RIGHT OF USE ASSETS 2893817 19571128 PREPAID ROOM AND OTHER DEPOSITS 513133 OPERATING LEASE LIABILITY 1259204 REFUNDABLE STUDENT LOANS 425581 FINANCING LEASE LIABILITY 411046 2608964 X 49338938 3620757 1416938 5037695 44301243 128205 18463124 18591329 62892572 43669061 12156 12156 43656905 128205 18463124 18591329 62248234 PART III, LINE 1A: COLLECTIONS OF WORKS OF ART, HISTORICAL TREASURES AND SIMILAR ASSETS ARE NOT CAPITALIZED. PART III, LINE 4: EDGEWOOD COLLEGE HAS AN ART COLLECTION USED FOR PUBLIC EXHIBITION AND SCHOLARLY RESEARCH. PART V, LINE 4: ENDOWMENT FUNDS ARE PRIMARILY USED FOR SCHOLARSHIPS AND ALSO INCLUDE SUPPORT OF PROGRAM ACTIVITIES, BUILDING MAINTENANCE AND EQUIPMENT. PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IT IS ALSO EXEMPT FROM STATE INCOME TAX. HOWEVER, ANY UNRELATED BUSINESS INCOME MAY BE SUBJECT TO TAXATION. THE COLLEGE FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THE 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 JUNE 30, 2024 AND 2023. THE COLLEGE'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE TAX RETURNS FOR THE CURRENT YEAR AS WELL AS FISCAL YEARS 2020 AND 2019 AND THEREAFTER ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES, RESPECTIVELY. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN BENEFICIAL INTEREST IN PRIVATE FOUNDATION 1,562,417. RENTAL EXPENSES 6,082. USE OF COLLEGE CAR 6,074. EQUITY IN CNE INCOME 1,315. SWAP MV CHANGE -158,950. PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANTS AND INSTITUTIONAL AID 18,425,414. CUNA COMMUNITY SCHOLARS AWARD - R&B 37,710. PART XII, LINE 2D - OTHER ADJUSTMENTS: USE OF COLLEGE CAR 6,074. RENTAL EXPENSES 6,082. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS AND INSTITUTIONAL AID 18,425,414. CUNA COMMUNITY SCHOLARS AWARD - R&B 37,710. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 EDGEWOOD COLLEGE'S NONDISCRIMINATORY POLICY IS PUBLISHED IN THE COLLEGE CATALOGUE, APPLICATION MATERIALS, AND OWN WEBSITE. SCHEDULE E, PART I, LINE 6 PELL FUNDS, SEOG FUNDS, AND WORK STUDY FUNDS ARE FROM THE U.S. GOVERNMENT. EAST ASIA 0 0 PROGRAM SERVICES EDUCATION- PROGRAM DEVELOPMENT 3168 EAST ASIA 0 0 PROGRAM SERVICES EDUCATION- STUDY ABROAD 77500 EUROPE 0 0 PROGRAM SERVICES EDUCATION- PROGRAM DEVELOPMENT 15422 EUROPE 0 0 PROGRAM SERVICES EDUCATION- STUDY ABROAD 78218 SOUTH AMERICA 0 0 PROGRAM SERVICES EDUCATION- STUDY ABROAD 88550 SOUTH ASIA 0 0 PROGRAM SERVICES EDUCATION- PROGRAM DEVELOPMENT 6558 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES EDUCATION- PROGRAM DEVELOPMENT 3750 0 0 0 0 0 0 273166 0 273166 0 0 0 0 0 0 EAGLE GOLF OUTING 32950 24148 8802 450 4505 5492 3372 32950 24148 8802 450 4505 5492 3372 13819 -5017 1 EDGEWOOD COLLEGE SCHOLARSHIPS 1196 18340701 SEOG PROGRAM 54 96021 TEACH-FEDERAL GRANTS 10 26404 PART I, LINE 2: TO ENSURE OUR GRANTS AND SCHOLARSHIPS ARE USED FOR THE PROPER PURPOSES THE EDGEWOOD COLLEGE FINANCIAL AID OFFICE PERFORMS REGULAR MAINTENANCE AND RECONCILIATIONS WITH OUR BUSINESS OFFICE MONITORING THAT ALL FUNDS AWARDED TO A PARTICULAR STUDENT ARE BEING PROPERLY CREDITED TO THEIR STUDENT ACCOUNT. ANY CHANGES OR ADJUSTMENTS TO ORIGINAL AWARDS THAT AFFECT GRANT AND SCHOLARSHIP FUNDING ARE MADE WITHIN POWERFAIDS, THE FINANCIAL AID SOFTWARE PROGRAM. THESE CHANGES TO AWARDS ARE ELECTRONICALLY TRANSMITTED AT LEAST WEEKLY TO THE BUSINESS OFFICE. THE RESULTING CHANGES ARE THEN DISPLAYED ON THEIR STUDENT ACCOUNT. THE FINANCIAL AID OFFICE HAS THE ABILITY TO GENERATE REPORTS AS NEEDED FOR MONITORING AND RECONCILIATION PURPOSES. THESE REPORTS ARE COMPARED TO REPORTS GENERATED BY THE BUSINESS OFFICE TO ENSURE THAT ALL PROGRAM AMOUNTS ARE ACCURATELY REFLECTED. ADDITIONALLY, WE HAVE A YEARLY AUDIT PERFORMED BY AN OUTSIDE ACCOUNTING FIRM GUARANTEEING WE ARE STAYING IN COMPLIANCE WITH ALL FEDERAL, STATE AND INSTITUTIONAL POLICIES AND PROCEDURES AS WELL AS ASSURING FUNDING IS BEING USED AS INTENDED. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 ANDREW MANION PRESIDENT 329584 0 0 0 9353 0 19605 0 720 0 359262 0 0 0 WILLIAM MANGAN VP FOR ACADEMIC AFFAIRS 204661 0 0 0 0 0 10462 0 720 0 215843 0 0 0 KATIE VESPERMAN VP INSTITUTIONAL ADVANCEMENT 152367 0 0 0 0 0 9166 0 52345 0 213878 0 0 0 MARGARET NOREUIL DEAN OF NURSING, BUS. & HEALTH 192902 0 0 0 0 0 11748 0 3198 0 207848 0 0 0 AMANDA BERG VP OF FIN. AFFAIRS 176135 0 0 0 0 0 10681 0 2658 0 189474 0 0 0 PAUL EGGERS VP FOR GROWTH AND INNOVATION 158366 0 0 0 0 0 9526 0 720 0 168612 0 0 0 ARHELIA DALLA COSTA BEHM VP FOR ADMINISTRATION 135021 0 0 0 0 0 8553 0 23869 0 167443 0 0 0 PART I, LINE 1A SOCIAL DUES ARE DETERMINED BY PRESIDENT'S CONTRACT. A WISCONSIN HEALTH AND EDUCATIONAL FACILITIES AUTHORITY 391337855 NONEAVAIL 2015-05-29 16870000 SEE PART VI 0 0 0 A 7995000 16870000 75000 6745000 10050000 2016 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 1 1 BMO HARRIS BANK NA 10.000000000000 0 0 0 0 1 A 1 SCHEDULE K, PART I, ROW A, COLUMN (F): CONSTRUCT RESIDENCE HALL ADDITION AND CURRENT REFUNDING OF WISCONSIN HEALTH AND EDUCATIONAL FACILITIES AUTHORTY ADJUSTABLE DEMAND REVENUE BONDS, SERIES 2006 (EDGEWOOD COLLEGE) DATED SEPTEMBER 13, 2006 SCHEDULE K, PART I, ROW A, COLUMN (F): THE TOTAL ISSUE AMOUNT OF THE SERIES 2015 BONDS WAS $16,870,000 OF WHICH $10,050,000 WAS USED TO CURRENTLY REFUND SERIES 2006 BONDS, $75,000 WAS USED TO PAY ISSUANCE COSTS AND $6,745,000 WAS USED FOR RESIDENCE HALL ADDITION CONSTRUCTION COSTS. SUBJECT TO FERPA LAWS FERPA LAWS 51625 TUITION ASSISTANCE SCHOLARSHIP X 2 61838 NET SELLING PRICE 0 0 1 1 PART I, COLUMN (B): FOR THE INFORMATION INCLUDED IN THIS COLUMN THE COLLEGE IS COUNTING THE NUMBER OF NON-CASH CONTRIBUTIONS RECEVED. PART I, LINE 32B: A BANK IS USED TO SELL STOCK GIFTS. PART I, LINE 33: FOR THE TYPES OF PROPERTY CHECKED IN COLUMN (A) FOR WHICH THERE IS NO REVENUE REPORTED IN COLUMN (C), THE REASON IS THAT THE AMOUNTS WERE CONSIDERED IMMATERIAL TO THE COLLEGE'S OVERALL FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE COLLEGE FALL INTO TWO CATEGORIES, CLASS A MEMBERS OF THE COLLEGE (HEREINAFTER REFERRED TO AS "MEMBERS") AND CLASS B MEMBERS OF THE COLLEGE (HEREINAFTER REFERRED TO AS "THE SPONSORS COUNCIL"), I.E., A COUNCIL OF PERSONS DELEGATED BY THE CLASS A MEMBERS TO OVERSEE SPECIFIC RESERVE POWERS. NOTWITHSTANDING THE PREVIOUS SENTENCE, THE FOLLOWING POWERS AND RESPONSIBILITIES ARE RESERVED EXCLUSIVELY TO THE MEMBERS, CAN BE DELEGATED TO THE SPONSORS COUNCIL, AND NO ATTEMPTED EXERCISE OF ANY SUCH POWER OR RESPONSIBILITIES BY ANYONE OTHER THAN THE MEMBERS AND SPONSORS COUNCIL SHALL BE VALID OR HAVE ANY FORCE OR EFFECT WHATSOEVER. THE MEMBERS OF EDGEWOOD COLLEGE SHALL INITIALLY BE THE PRIORESS, COUNCILORS, AND THE TREASURER OF THE SINSINAWA DOMINICAN CONGREGATION. THEREAFTER, THE MEMBERS MAY APPOINT, IN THEIR SOLE DISCRETION, DIFFERENT MEMBERS. (A) WHEN THE MEMBERS, IN THEIR SOLE DISCRETION, DECIDE TO INCREASE THE NUMBER OF MEMBERS, OR (B) WHEN VACANCIES OCCUR BY DEATH, RESIGNATION, FAILURE OF QUALIFICATION, OR OTHERWISE. AT ALL TIMES, MEMBERS SHALL BE COMPRISED OF A MAJORITY OF PERSONS WHO ARE SISTERS OF THE SINSINAWA DOMINICAN CONGREGATION. (A) NUMBER AND TERM OF OFFICE OF MEMBERS. THE MEMBERS WILL CONSIST OF NO FEWER THAN THREE (3), AND NO MORE THAN SEVEN (7) PERSONS. EACH MEMBER SHALL SERVE A TERM OF THAT NUMBER OF YEARS DETERMINED BY THE MEMBERS AS THE LENGTH OF TERM FOR MEMBERS. WHEN VACANCIES AMONG THE MEMBERS OCCUR BY REASON OF DEATH, RESIGNATION, FAILURE OF QUALIFICATION, OR OTHERWISE, THE NUMBER SHALL BE REDUCED BY SUCH VACANCIES UNTIL QUALIFIED REPLACEMENTS ARE SELECTED BY THE REMAINING MEMBERS FOR UNEXPIRED TERMS, BUT IN NO EVENT WILL THE NUMBER OF MEMBERS BE FEWER THAN THREE (3). ANY MEMBER MAY RESIGN BY FILING A RESIGNATION WITH THE ELECTED CHAIR (UNLESS THE ELECTED CHAIR IS THE PERSON RESIGNING, IN WHICH CASE THE RESIGNATION SHALL BE FILED WITH THE REMAINING MEMBERS). UNLESS OTHERWISE STATED IN A RESIGNATION, IT SHALL TAKE EFFECT WHEN RECEIVED BY THE PERSON OR PERSONS TO WHOM DELIVERED AS SPECIFIED ABOVE, WITHOUT ANY NEED FOR ITS ACCEPTANCE. (B) NUMBER AND TERM OF OFFICE OF SPONSORS COUNCIL. THE SPONSORS COUNCIL WILL CONSIST OF NO FEWER THAN FOUR (4), AND NO MORE THAN EIGHT (8) LAY OR VOWED RELIGIOUS PERSONS. A MEMBER OF THE SPONSORS COUNCIL WILL NORMALLY HAVE A TERM OF THREE YEARS, RENEWABLE TWICE. LAY PERSONS OR VOWED RELIGIOUS ARE APPOINTED TO THE SPONSORS COUNCIL BY THE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B CLASS A MEMBERS ("MEMBERS"): - TO CHANGE OR APPROVE CHANGES, AS RECOMMENDED BY THE SPONSORS COUNCIL, TO THE MISSION OF THE COLLEGE AND TO ASSURE CONTINUING HARMONY BETWEEN THE MISSION OF THE SINSINAWA DOMINICANS AND THE MISSION OF THE COLLEGE. - TO ENSURE CATHOLIC IDENTITY AND DOMINICAN FORMATION FOR THE COLLEGE. - TO APPROVE ANY ACQUISITION, PURCHASE, SALE, MORTGAGE, LEASE, TRANSFER, OR ENCUMBRANCE OF THE REAL PROPERTY OWNED BY THE COLLEGE. - TO APPROVE DEBT IN EXCESS OF A PREDETERMINED AMOUNT SET BY THE MEMBERS. - TO AMEND, RESTATE OR MODIFY THE ARTICLES OF INCORPORATION AND BYLAWS OF THE COLLEGE. - TO APPROVE THE MERGER, CONSOLIDATION, LIQUIDATION, OR DISSOLUTION OF THE COLLEGE. (B) CLASS B MEMBERS ("SPONSORS COUNCIL"): - TO REQUIRE AN ASSESSMENT ON A REGULAR BASIS OF CATHOLIC AND DOMINICAN IDENTITY OF THE COLLEGE IN ORDER TO DETERMINE THE EFFECTIVENESS OF THE MISSION AND REPORT TO THE MEMBERS. - TO APPROVE THE ORGANIZATION OF ANY AFFILIATE OR SUBSIDIARY ORGANIZATION OF THE COLLEGE. - TO ENSURE THE EXISTENCE OF A BOARD OF TRUSTEES FOR THE COLLEGE (HEREINAFTER REFERRED TO AS THE "BOARD") AND TO COLLABORATE WITH THE BOARD IN ASSESSING THE BOARD'S EFFECTIVENESS. - TO APPROVE THE APPOINTMENT OF MEMBERS OF THE BOARD (HEREINAFTER REFERRED TO AS "TRUSTEES") FOR THE COLLEGE, THE APPROVAL OF WHICH SHALL NOT BE UNREASONABLY WITHHELD. - TO REQUIRE THE BOARD OF THE COLLEGE TO CONSIDER OR RECONSIDER, WITHIN NINETY (90) DAYS ANY ACTION OR ITEM THAT THE MEMBERS AND/OR SPONSORS COUNCIL HAVE DETERMINED TO BE SIGNIFICANT TO THE DOMINICAN OR CATHOLIC CHARACTER OF THE COLLEGE, AND, IF NECESSARY, REMOVE A TRUSTEE OR TRUSTEES WHOSE ACTIONS ARE IN VIOLATION OF THE SOLE PURPOSE OF THE COLLEGE. - TO RECOMMEND TO THE MEMBERS, THE AMENDMENT OR MODIFICATION OF THE ARTICLES OF INCORPORATION AND BYLAWS OF THE COLLEGE, INDEPENDENTLY OR AS PROPOSED BY THE BOARD OF THE COLLEGE. - TO RECOMMEND TO THE MEMBERS, DEBT IN EXCESS OF A SPECIFIC AMOUNT SET BY THE MEMBERS AND AS RECOMMENDED BY THE BOARD OF TRUSTEES. - TO RECOMMEND TO THE MEMBERS, ANY ACQUISITION, PURCHASE, SALE, MORTGAGE, LEASE, TRANSFER, OR ENCUMBRANCE OF THE REAL PROPERTY OWNED BY THE COLLEGE AS RECOMMENDED BY THE BOARD OF TRUSTEES. - TO RECOMMEND TO THE MEMBERS, THE MERGER, CONSOLIDATION, LIQUIDATION, OR DISSOLUTION OF THE COLLEGE AS RECOMMENDED BY THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B THE PUBLIC DISCLOSURE COPY FORM 990 WAS REVIEWED AND APPROVED BY THE FINANCE & AUDIT COMMITTEE PRIOR TO ITS FILING WITH THE IRS. BOARD TRUSTEE MEMBERS WILL BE GIVEN A LINK FOR WHICH TO ACCESS THE FORM 990 TAX RETURN PRIOR TO IT BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C EDGEWOOD COLLEGE HAS A WRITTEN CONFLICT OF INTEREST POLICY THAT COVERS TRUSTEES, OFFICERS AND KEY EMPLOYEES. THE DISCLOSURE STATEMENT IS COMPLETED AND SIGNED ANNUALLY BY TRUSTEES, OFFICERS, AND KEY EMPLOYEES. THE POLICY REQUIRES EACH MEMBER OF THE BOARD OF TRUSTEES, OFFICERS, AND KEY EMPLOYEES TO: 1. REVIEW POLICY, 2. DISCLOSE ANY PERSONAL, FAMILY OR BUSINESS RELATIONSHIPS THAT COULD REASONABLY GIVE RISE TO CONFLICT WITHIN THE COLLEGE, AND 3. COMPLETE AND SIGN DISCLOSURE STATEMENT. THE BUSINESS OFFICE PERSONNEL PERFORM A REVIEW OF DISCLOSURE STATEMENTS AND VERIFY THAT THEY ARE RETURNED BY ALL INTERESTED PARTIES. BUSINESS OFFICE PERSONNEL WILL REPORT TO FINANCE & AUDIT COMMITTEE THE SUMMARY OF DISCLOSURES AND NON-RESPONSES. IF A CONFLICT IS DEEMED TO EXIST, SUCH PERSON SHALL NOT VOTE NOR PARTICIPATE IN THE DISCUSSION OR DELIBERATIONS WITH RESPECT TO SUCH CONTRACT OR TRANSACTION. THE MINUTES OF THE MEETING SHALL REFLECT THE DISCLOSURE MADE AND THE ABSTENTION FROM VOTING AND PARTICIPATION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE PRESIDENT AND OFFICERS IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. DOCUMENTATION OF SUCH APPROVAL IS INCLUDED IN THE MINUTES OF THE EXECUTIVE COMMITTEE. COMPARISONS ARE MADE ANNUALLY TO COMPENSATION AND BENEFITS FOR COMPARABLE POSITIONS AT ORGANIZATIONS INDEPENDENT OF EDGEWOOD. FORM 990, PART VI, SECTION C, LINE 19 EDGEWOOD COLLEGE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTEREST IN PRIVATE FOUNDATION 1,562,417. SWAP MV CHANGE -158,950. EQUITY IN CNE INCOME 1,315.