2023-04-17T10:05:47-05:00 2022-05-31 390859910 BAKER TILLY US LLP 1570 FRUITVILLE PIKE SUITE 400 LANCASTER PA 17601 990 2021-06-01 231352652 JUNIATA COLLEGE JUNI 8146413000 1700 MOORE STREET HUNTINGDON PA 16652 KARLA D WISER CONTROLLER/CFO 8146413000 2023-04-12 1 KARLA WISER 999009999 KERRI N BOGDA CPA P00760402 7177404863 2023-04-12 X 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z JAMES A TROHA 1700 MOORE STREET HUNTINGDON PA 16652 107847594 0 X WWW.JUNIATA.EDU X 1876 PA JUNIATA COLLEGE IS A PRIVATE LIBERAL ARTS COLLEGE IN HUNTINGDON, PA. 36 35 1085 771 448698 420502 9878403 11325508 75559781 76056669 13004330 12026130 463277 623411 98905791 100031718 39395206 41554130 0 0 30633828 29353377 0 0 2165906 20950009 24974863 90979043 95882370 7926748 4149348 247093856 246892473 75147442 86966810 171946414 159925663 X THE COLLEGE HAS A TRADITION OF MAINTAINING THE SENSE OF PEACE, SIMPLICITY, COMMUNITY, AND SERVICE SET FORTH BY ITS CHURCH OF THE BRETHREN FOUNDERS. CONTINUED ON SCHEDULE O.THROUGH ENCOURAGING PERSONAL, INTELLECTUAL, PHYSICAL, AND SOCIAL GROWTH IN EACH STUDENT AND MODELING VALUES OF MUTUAL RESPECT AND COOPERATION IN ITS CAMPUS COMMUNITY, THE COLLEGE SEEKS, THROUGH PROVIDING AN ENGAGING PERSONALIZED EDUCATIONAL EXPERIENCE, TO DEVELOP IN ITS STUDENTS THE SKILLS, KNOWLEDGE, AND VALUES THAT LEAD TO A FULFILLING LIFE OF SERVICE AND ETHICAL LEADERSHIP IN THE GLOBAL COMMUNITY. 0 0 78968738 41554130 76056669 JUNIATA COLLEGE IS A NONPROFIT EDUCATIONAL INSTITUTION ESTABLISHED IN 1876 TO PROVIDE HIGHER EDUCATION TO STUDENTS. THE COLLEGE AWARDS GRANTS-IN-AID AND SCHOLARSHIPS FROM ITS UNRESTRICTED AND RESTRICTED NET ASSETS TO INDIVIDUALS WHO MEET THE COLLEGE'S ACADEMIC STANDARDS. THE AMOUNTS OF SUCH AWARDS ARE DETERMINED PRIMARILY BASED UPON THE ACADEMIC PERFORMANCE OF EACH APPLICANT. ADDITIONAL FINANCIAL AID IS PROVIDED TO STUDENTS FROM FEDERAL AND STATE PROGRAMS IN WHICH THE COLLEGE PARTICIPATES AND FROM MONIES CONTRIBUTED TO THE COLLEGE BY ALUMNI AND FRIENDS. CONTINUED ON SCHEDULE O.DURING THE YEAR ENDED MAY 31, 2022, THE COLLEGE PROVIDED STUDENT FINANCIAL AID FROM INTERNAL RESOURCES OF APPROXIMATELY $33,306,000, WHICH REPRESENTED 55% OF GROSS TUITION AND FEE REVENUE. STUDENT FINANCIAL AID FROM MONIES CONTRIBUTED TO THE COLLEGE BY ALUMNI AND FRIENDS WAS APPROXIMATELY $6,823,000. 78968738 1 1 0 0 0 0 0 1 1 1 1 1 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 0 0 0 0 0 0 0 0 1 141 0 1085 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 36 35 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 PA X KARLA D WISER CONTROLLERCFO 8146413306 1700 MOORE STREET HUNTINGDON PA 16652 MARY M WHITE BS MS CHAIR 1.00 X X 0 0 0 CARL D GLAESER BS VICE CHAIR 1.00 X X 0 0 0 GAIL M HABECKER BA BBA TREASURER 1.00 X X 0 0 0 BRUCE L MOYER BA JD SECRETARY 1.00 X X 0 0 0 DAVID C BEACHLEY BS TRUSTEE 1.00 X 0 0 0 JAYNE K DONAHUE BS TRUSTEE 1.00 X 0 0 0 RICHARD J ENDRES BS TRUSTEE 1.00 X 0 0 0 WILLIAM P HAYES BA TRUSTEE 1.00 X 0 0 0 NATHAN HEVRONY BS TRUSTEE 1.00 X 0 0 0 STEVEN J HOLSINGER BA JD TRUSTEE 1.00 X 0 0 0 ELAINE V JONES BS PHD TRUSTEE 1.00 X 0 0 0 FRED C MASON BS MBA TRUSTEE 1.00 X 0 0 0 RICHARD E PAULHAMUS BS MS TRUSTEE 1.00 X 0 0 0 CAROL A PLETCHER BS MS PHD TRUSTEE 1.00 X 0 0 0 HENRY F SIEDZIKOWSKI BA JD TRUSTEE 1.00 X 0 0 0 GEORGE P VALKO BS MD TRUSTEE 1.00 X 0 0 0 JOHN BATCHELOR BA MA EDD TRUSTEE 1.00 X 0 0 0 STEVEN J HESS BS MS PHD TRUSTEE 1.00 X 0 0 0 MICHAEL J KLAG BS MD MPH TRUSTEE 1.00 X 0 0 0 PARISHA P SHAH BS PHD TRUSTEE 1.00 X 0 0 0 JOY L HADLEY BS MPA TRUSTEE 1.00 X 0 0 0 NICOLE C CLOSE BS MS PHD TRUSTEE 1.00 X 0 0 0 RANDY L KOCHEL BS MD TRUSTEE 1.00 X 0 0 0 RANDALL C DEIKE BS MS PHD TRUSTEE 1.00 X 0 0 0 DAVID J FAHEY BS TRUSTEE 1.00 X 0 0 0 JODIE MONGER GRAY BS MS PHD TRUSTEE 1.00 X 0 0 0 ERIC C JENSEN BS PHD TRUSTEE 1.00 X 0 0 0 DANIEL K SUNDERLAND BS TRUSTEE 1.00 X 0 0 0 CHARLES W III WISE AB MBA TRUSTEE 1.00 X 0 0 0 FRIEDHELM WULCZYN BS MS PHD TRUSTEE 1.00 X 0 0 0 CHRISTOPHER J THOMPSON BS TRUSTEE 1.00 X 0 0 0 TIMOTHY D STATTON BS TRUSTEE 1.00 X 0 0 0 CAROL L VAN HORN BS JD TRUSTEE 1.00 X 0 0 0 MICHAEL A L JOHNSON BS MD TRUSTEE 1.00 X 0 0 0 COLLEEN E OSTROWSKI BS MBA TRUSTEE 1.00 X 0 0 0 SARAH YOUNG FISHER BS MS TRUSTEE 1.00 X 0 0 0 JAMES A TROHA BA MA PHD PRESIDENT (NON-VOTING) 40.00 X X 429251 0 101724 LAUREN L BOWEN PHD PROVOST 40.00 X 189767 0 41674 MATTHEW DAMSCHRODER PHD VP STUDENT LIFE 40.00 X 126357 0 28731 TRACY L STOUGH GRAJEWSKI EXEC. DIR./CHIEF HR OFFICER 40.00 X 114806 0 58582 JASON R MORAN MS VP ENROLLMENT 40.00 X 146602 0 38521 REGINALD ONYIDO SENIOR ASSOC. DEAN OF ADMISSION 40.00 X 58114 0 28430 JAMES R WATT MA VP ADVANCEMENT 40.00 X 153218 0 15084 KARLA D WISER BS CPA CONTROLLER/CFO/ASST. TREASURER 40.00 X 96539 0 83527 ANNE M WOOD ASST. V P AND CHIEF INFO. OFFICER 40.00 X 102966 0 34242 BETHANY D SHEFFIELD BA ASST. SECRETARY 40.00 X 50636 0 24252 CRYSTAL SELLERS BATTLE DEAN OF EQUITY,DIVERSITY & INCLUSION 40.00 X 46821 0 13491 LOREN K RHODES PHD FACULTY 40.00 X 238876 0 19297 JAMES N RONEY FACULTY 40.00 X 180759 0 11878 GRACE M FALA FACULTY 40.00 X 180419 0 11540 POLLY WALKER FACULTY 40.00 X 173558 0 12298 SARAH J DEHAAS FACULTY 40.00 X 170206 0 11881 2458895 0 535152 35 0 1 0 PARKHURST DINING 285 EAST WATERFRONT DRIVE HOMESTEAD PA 15120 FOOD SERVICES 5023553 POOLE ANDERSON CONSTRUCTION FAIRGROUNDS ROAD PO BOX 576 HUNTINGTON PA 16652 CONSTRUCTION SERVICES 898812 C E WOOD CONSTRUCTIOIN PO BOX 599 DUNCANSVILLE PA 16635 CONSTRUCTION SERVICES 288529 ELLUCIAN 4 COUNTRY VIEW ROAD MALVERN PA 19355 IT SERVICES 284477 CONTAMINATION SOURCE IDENTIFICATION LLC 419 14TH ST BOX 21 HUNTINGDON PA 16652 LABORTARY SERVICES 247632 11 30513 21391 5208515 6065089 1051048 11325508 TUITION & FEES 611310 61986229 61986229 AUXILIARY ENTERPRISES 611310 14070440 14070440 76056669 2277565 448698 1828867 433423 390943 42480 42480 42480 17138049 2000 7391484 0 9746565 2000 9748565 9748565 29292 21391 29946 -654 -654 8920 3503 5417 5417 FACILITIES RENT - OTHE 900099 146743 146743 FINES, FEES, & FORFEIT 900099 76006 76006 CONFERENCES 900099 49799 49799 303620 303620 576168 100031718 76056669 448698 12200843 4994 4994 41549136 41549136 1702903 336909 746407 619587 18899973 14569038 4176414 154521 1633337 1181701 390267 61369 5614251 4061847 1341461 210943 1502913 1087340 359104 56469 76497 76497 220201 220201 513109 513109 1632456 756964 482242 393250 149144 52927 22855 73362 238482 145044 81397 12041 2070063 1055451 981608 33004 221834 221834 1035043 917703 75191 42149 2424674 2424674 4149252 2407163 1603891 138198 1069825 1069825 FOOD SERVICES 5122539 3706099 1223972 192468 PROGRAMMING 908169 891838 16331 ATHLETIC SUPPLIES 211626 211626 EQUIP MAINT & SUPPLIES 184969 175278 9691 4746980 3433006 1135429 178545 95882370 78968738 14747726 2165906 27566 15190 11496534 25317756 7679626 5568691 684354 860260 742106 532288 322687 359680 3447142 4018231 159091860 82846917 76773153 76244943 118579910 103022359 13574969 17511856 539950 434825 13225859 13006394 247093856 246892473 5190585 4228982 1054067 1024458 55102836 69352697 4233496 4158981 2045610 1468779 7520848 6732913 75147442 86966810 X 43264426 39827798 128681988 120097865 171946414 159925663 247093856 246892473 X 4149348 -15590443 -579656 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1656432 X X X 0 0 1 X 136576314 2108220 -3398624 4586456 7361332 513109 122825013 114658070 1707425 32679037 9170914 2787592 509712 136576314 117274164 1692165 4321881 1976281 6150970 502889 114658070 122539943 1732083 1369463 2513412 5299125 554788 117274164 116648822 2389340 11038018 7028429 507808 122539943 0.29000 0.70640 0.00360 0 0 3808978 3808978 125696041 61677002 64019039 24145448 19949462 4195986 5441393 1220453 4220940 76244943 REAL ESTATE INVESTMENTS 3282773 F ALTERNATIVE INVESTMENTS 14229083 F 17511856 CASH SURRENDER VALUE OF LIFE INSURANCE 7439268 FUNDS HELD IN TRUSTS BY OTHERS 3687038 COLLECTIONS 1656432 RIGHT OF USE ASSETS 223656 13006394 FUNDS HELD IN CUSTODY FOR OTHERS 241868 STUDENT DEPOSITS & PREPAYMENTS 247954 POSTRETIREMENT BENEFITS 5733791 ADVANCE FROM FEDERAL GOVERNMENT 285644 OBLIGATION UNDER OPERATING LEASE 223656 6732913 X 43098702 -15590443 -41376022 -56966465 100065167 -33449 -33449 100031718 55119453 -120744 -120744 55240197 40642173 40642173 95882370 PART III, LINE 4: THE COLLEGE HAS MANY PAINTINGS, SCULPTURES, AND OTHER WORKS OF ART IN ITS COLLECTION. ARTWORK IS DISPLAYED THROUGHOUT THE CAMPUS, AS WELL AS IN THE COLLEGE'S ART MUSEUM. WORKS OF ART ARE STUDIED AND MAINTAINED BY STAFF AND STUDENTS. PART IV, LINE 2B: THE COLLEGE REPORTED ESCROW ACCOUNT LIABILITY ON THE BALANCE SHEET WHICH REPRESENTS THEIR PAYABLES FROM DEFERRED GIVING ACCOUNTS. PART V, LINE 4: INCOME FROM THE ENDOWMENT FUND IS USED FOR SCHOLARSHIPS AND TO SUPPORT OTHER INSTITUTIONAL FUNCTIONS. PART X, LINE 2: THE COLLEGE ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES USING A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD IS MET. MANAGEMENT DETERMINED THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD AT MAY 31, 2022 AND 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN THE VALUATION OF SPLIT-INTEREST AGREEMENTS DUE TO OTHERS -365,537. CHANGE IN FMV OF FUNDS HELD IN TRUST BY OTHERS -368,312. INDIVIDUAL SCHOLARSHIPS NETTED TO TUITION ON THE FINANCIAL STATEMENTS -40,129,064. INVESTMENT MANAGEMENT FEES NETTED TO REVENUES ON FINANCIAL STATEMENTS -513,109. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -29,946. GAMING EXPENSES -3,503. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN THE VALUATION OF CSV OF LIFE INSURANCE NETTED TO PREMIUMS ON FS -386,514. LOSS ON BOND REFINANCING 232,321. FUNDRAISING EXPENSES 29,946. GAMING EXPENSES 3,503. PART XII, LINE 4B - OTHER ADJUSTMENTS: INDIVIDUAL SCHOLARSHIPS NETTED TO TUITION ON THE FINANCIAL STATEMENTS 40,129,064. INVESTMENT MANAGEMENT FEES NETTED TO REVENUES ON FINANCIAL STATEMENTS 513,109. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 NOTICE OF NONDISCRIMINATORY POLICY AS TO STUDENTS WAS ADVERTISED IN "THE DAILY NEWS," A NEWSPAPER OF GENERAL CIRCULATION IN HUNTINGDON COUNTY. THE POLICY IS ALSO NOTED IN THE BYLAWS, CATALOGS, WEBSITE, HANDBOOKS, AND JOB ANNOUNCEMENTS. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES VARIOUS GRANTS AND ASSISTANCE FROM FEDERAL AND STATE AGENCIES FOR THE FUTHERANCE OF ITS CHARITABLE PURPOSE. CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES HIGHER EDUCATION - STUDY ABROAD PROGRAM 82775 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES HIGHER EDUCATION - STUDY ABROAD PROGRAM 2500 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES HIGHER EDUCATION - STUDY ABROAD PROGRAM 135588 NORTH AMERICA 0 0 PROGRAM SERVICES HIGHER EDUCATION - STUDY ABROAD PROGRAM 57550 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES HIGHER EDUCATION - STUDY ABROAD PROGRAM 25205 SOUTH AMERICA 0 0 PROGRAM SERVICES HIGHER EDUCATION - STUDY ABROAD PROGRAM 56568 0 0 0 0 0 0 360186 0 360186 0 0 0 0 0 0 PART III ACCOUNTING METHOD: GOLF OUTING 50683 21391 29292 1350 14003 6568 5379 2646 50683 21391 29292 1350 14003 6568 5379 2646 29946 -654 1 INSTITUTIONAL SCHOLARSHIPS AND GRANTS 1275 40129064 0 N/A N/A CARES ACT STUDENT RELIEF FUNDS 1127 1420072 0 N/A N/A PART I, LINE 2: ELIGIBILITY FOR NEED-BASED GRANTS IS DETERMINED BY THE SUBMISSION OF THE "FREE APPLICATION" FOR FEDERAL STUDENT AID. MERIT SCHOLARSHIPS AND AWARDS ARE DETERMINED BY A STUDENT'S ADMISSION APPLICATION. X X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 JAMES A TROHA BA MA PHD PRESIDENT (NON-VOTING) 407830 0 0 0 21421 0 34004 0 67720 0 530975 0 0 0 LOREN K RHODES PHD FACULTY 102811 0 0 0 136065 0 7996 0 11301 0 258173 0 0 0 LAUREN L BOWEN PHD PROVOST 189767 0 0 0 0 0 19222 0 22452 0 231441 0 0 0 JAMES N RONEY FACULTY 83124 0 0 0 97635 0 6509 0 5369 0 192637 0 0 0 GRACE M FALA FACULTY 79715 0 0 0 100704 0 6176 0 5364 0 191959 0 0 0 POLLY WALKER FACULTY 69778 0 0 0 103780 0 6919 0 5379 0 185856 0 0 0 JASON R MORAN MS VP ENROLLMENT 146602 0 0 0 0 0 15630 0 22891 0 185123 0 0 0 SARAH J DEHAAS FACULTY 60896 0 0 0 109310 0 6212 0 5669 0 182087 0 0 0 KARLA D WISER BS CPA CONTROLLER/CFO/ASST. TREASURER 96539 0 0 0 0 0 10557 0 72970 0 180066 0 0 0 TRACY L STOUGH GRAJEWSKI EXEC. DIR./CHIEF HR OFFICER 114806 0 0 0 0 0 10771 0 47811 0 173388 0 0 0 JAMES R WATT MA VP ADVANCEMENT 145759 0 0 0 7459 0 14503 0 581 0 168302 0 0 0 MATTHEW DAMSCHRODER PHD VP STUDENT LIFE 126357 0 0 0 0 0 13034 0 15697 0 155088 0 0 0 PART I, LINE 1A THE PRESIDENT OF THE COLLEGE HAS A RESIDENCE PROVIDED TO HIM AS PART OF HIS COMPENSATION PACKAGE. IN ADDITION TO THE RESIDENCE, HOUSEKEEPING SERVICES, SUCH AS CLEANING AND MAINTENANCE, ARE ALSO PROVIDED BY THE COLLEGE. LIMITED TRAVEL FOR THE PRESIDENT'S SPOUSE IS PROVIDED AS WELL. THE COLLEGE PAID GOLF CLUB DUES FOR DR. TROHA FOR 2021. THESE BENEFITS ARE NOT TAXABLE INCOME TO THE PRESIDENT AS THEY ARE CONSIDERED ESSENTIAL TO PERFORMING HIS WORK FOR THE COLLEGE. A FULTON BANK NA 231928421 2016-05-23 7690000 SEE PART VI 0 0 0 B HUNTINGDON COUNTY GENERAL AUTHORITY - SERIES 2016 OO2 236632278 44586SAP3 2016-05-12 34547786 SEE PART VI 0 0 0 C HUNTINGDON COUNTY GENERAL AUTHORITY - SERIES 2018 QQ1 236632278 44586SBD9 2018-05-01 7910995 SEE PART VI 0 0 0 D HUNTINGDON COUNTY GENERAL AUTHORITY - SERIES 2021 TT3 236632278 2021-10-28 19965576 SEE PART VI 0 0 0 A 7690000 7690000 2016 0 1 1 1 B 292621 34547786 147014 34400772 2016 0 1 1 1 C 7910995 157195 7753800 2018 1 0 1 1 D 19965576 219466 641163 5635739 13469208 2022 0 1 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 D 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 1 B 0 0 0 1 1 0 0 0 1 C 0 1 0 0 0 0 0 0 1 D 0 1 0 0 1 0 0 0 1 A 1 B 1 C 1 D 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: HUNTINGDON COUNTY GENERAL AUTHORITY - SERIES 2016 OO2 DATE THE REBATE COMPUTATION WAS PERFORMED: 06/04/2019 PART I, COLUMN F, DESCRIPTION OF PURPOSE: ISSUE A: ADVANCE REFUNDING OF THE 2010 BONDS ISSUE B: ADVANCE REFUNDING OF THE 2010 BONDS, FINANCING OF CAPITAL PROJECTS, AND PAYMENT OF BOND ISSUANCE COSTS ISSUE C: CURRENT REFUNDING OF THE 2013 BONDS AND ISSUANCE COSTS ISSUE D: ADVANCE REFUNDING OF THE 2004 & 2016 BONDS, FINANCING OF CAPITAL PROJECTS, AND PAYMENT OF BOND ISSUANCE COSTS 84750 SEE PART V SEE PART V PART III, GRANTS OR ASSISTANCE BENEFITTING INTERESTED PERSONS: (D) TYPE OF ASSISTANCE: SCHOLARSHIPS/AWARDS(E) PURPOSE OF ASSISTANCE: TUITION ASSISTANCE X 10 228638 CLOSING COST X 1 800000 CLOSING COST X HEAT PUMP 1 9339 COST X COLLEGE SEALS 1 4950 COST X PIANO 2 3500 COST X VARIOUS ITEMS & DISCOUNTS ON PRINTED ITEMS 2 2621 COST X CHROMATOGRAPH 1 2000 COST 0 1 0 PART I, COLUMN (B): THE NUMBER IN PART I, COLUMN B REPRESENTS THE TOTAL NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE OFFICERS OF THE BOARD WHO ARE VOTING TRUSTEES, THE CHAIR OR, IN THE ABSENCE OF THE CHAIR, THE VICE-CHAIR OF EACH STANDING COMMITTEE OF THE BOARD, AND TWO OTHER VOTING TRUSTEES ELECTED BY THE BOARD. THE COMMITTEE SHALL HAVE AND MAY EXERCISE ALL OF THE POWERS AND AUTHORITY OF THE BOARD WHEN THE BOARD IS NOT IN SESSION IN THE MANAGEMENT OF THE BUSINESS AND AFFAIRS OF THE COLLEGE, EXCEPT THAT THE COMMITTEE SHALL NOT HAVE THE POWER AND AUTHORITY TO (I) ADOPT, AMEND OR REPEAL THE ARTICLES OF INCORPORATION OR BYLAWS OF THE COLLEGE, (II) ADOPT, AMEND OR REPEAL THE CHARTER OF ANY COMMITTEE OF THE BOARD, (III) TAKE ANY ACTION DELEGATED BY CHARTER TO ANOTHER COMMITTEE OF THE BOARD, (IV) CREATE OR FILL ANY VACANCY ON THE BOARD, (V) SELECT OR TERMINATE THE PRESIDENT OF THE COLLEGE OR ANY OFFICER OF THE BOARD, (VI) INCUR CORPORATE INDEBTEDNESS, (VII) SELL OR OTHERWISE DISPOSE OF REAL ESTATE AND OTHER TANGIBLE PROPERTY, (VIII) ADOPT AN ANNUAL BUDGET, (IX) CONFER DEGREES, OR (X) TAKE ANY ACTION INCONSISTENT WITH A PRIOR RESOLUTION OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B COLLEGE OFFICERS WERE GIVEN A COPY OF THE FORM 990 TO REVIEW IN DETAIL. THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES REVIEWED THE FULL 990 DURING AN AUDIT COMMITTEE MEETING. IN ORDER TO RESPECT THE PRIVACY OF DONORS, THE COLLEGE PROVIDED ALL TRUSTEES WITH A PUBLIC DISCLOSURE COPY OF THE 990 BUT MADE A FULL COPY OF THE RETURN AVAILABLE TO THEM UPON REQUEST. ANY QUESTIONS, COMMENTS, AND OTHER CONCERNS WERE ADDRESSED PRIOR TO THE E-FILING OF THE RETURN WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, THE BOARD OF TRUSTEES AND OFFICERS INDIVIDUALLY SIGN CONFLICT OF INTEREST POLICIES THAT ARE MAINTAINED IN THE OFFICIAL RECORDS OF THE COLLEGE. AT LEAST ANNUALLY, THE GOVERNANCE COMMITTEE WILL ASSESS EACH TRUSTEE'S AND BOARD OFFICER'S COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY AND PROVIDE THE BOARD WITH ITS ASSESSMENT OF ANY POSSIBLE CONFLICTS OF INTEREST WHENEVER A NEW OR EXISTING TRUSTEE IS NOMINATED FOR ELECTION OR REELECTION TO THE BOARD. EMPLOYEE OFFICER COMPLIANCE IS MONITORED BY THE DIRECTOR OF HUMAN RESOURCES. ANY MEMBER WITH A CONFLICT MAY PARTICIPATE IN THE DISCUSSION, BUT MUST ABSTAIN FROM VOTING ON THE MATTER RELATED TO HIS OR HER CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE PERFORMANCE OF THE PRESIDENT AND RECOMMENDS TO THE FULL BOARD OF TRUSTEES THE PRESIDENT'S COMPENSATION AFTER REVIEWING COMPARABLE INFORMATION FROM OTHER SOURCES. COMPENSATION REVIEW IS PREPARED BY USING CUPAHR DATA ON DEMAND. THE COMPARISON GROUP REVIEWED INCLUDES SCHOOLS WITH SIMILAR BUDGETS AND ENROLLMENT SIZES. THE COMPARISON GROUP INCLUDES PEERS, ASPIRANTS, US NEWS & WORLD REPORT TIER 2 SCHOOLS, LANDMARK CONFERENCE, CENTENNIAL CONFERENCE AND A SELECT GROUP OF PA SCHOOLS. THE REVIEW AND APPROVAL IS DOCUMENTED BY HUMAN RESOURCES AND MINUTES OF THE BOARD OF TRUSTEE MEETINGS. THE PRESIDENT REVIEWS THE PERFORMANCE AND APPROVES THE COMPENSATION FOR OTHER OFFICERS USING COMPARATIVE DATA FOR THESE POSITIONS FROM CUPAHR. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS, AND APPLICABLE TAX DOCUMENTS AVAILABLE FOR INSPECTION OR REVIEW AT THE ADMINISTRATIVE OFFICES ON CAMPUS UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN THE VALUATION OF SPLIT-INTEREST AGREEMENTS -365,537. CHANGE IN FMV OF FUNDS HELD IN TRUST BY OTHERS -368,312. CHANGE IN THE VALUATION OF CASH SURRENDER VALUE OF LIFE INSURANCE 386,514. LOSS ON BOND REFINANCING -232,321.