2023-05-15T16:47:30-05:00 2022-06-30 202253063 TANNER LLC 36 S STATE STREET SUITE 600 SALT LAKE CITY UT 84111 990 2021-07-01 870212470 WESTMINSTER COLLEGE WEST 8018322148 1840 SOUTH 1300 EAST SALT LAKE CITY UT 84105 DEBRA GLENN CFO & VP OF FINANCE/ADMIN 8018322139 2023-05-11 1 DEBRA GLENN 999009999 MARC A METCALF P00170461 8015327444 2023-05-11 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z DEBRA GLENN 1840 SOUTH 1300 EAST SALT LAKE CITY UT 84105 86864595 0 X WWW.WESTMINSTERCOLLEGE.EDU X 1886 UT WESTMINSTER COLLEGE IS A PRIVATE COMPREHENSIVE LIBERAL ARTS COLLEGE IN SALT LAKE CITY, UT OFFERING UNDERGRADUATE AND GRADUATE DEGREES IN LIBERAL ARTS AND PROFESSIONAL PROGRAMS. 34 23 1155 195 0 0 15942346 16506549 64547791 54646175 1234263 275490 1132417 7265541 82856817 78693755 30336266 28519026 0 0 37135359 32981877 0 0 1418792 18572947 22919434 86044572 84420337 -3187755 -5726582 228140724 204629439 47786471 39446697 180354253 165182742 X WESTMINSTER COLLEGE IS A PRIVATE, INDEPENDENT COLLEGE DEDICATED TO STUDENT LEARNING. WE ARE A COMMUNITY OF LEARNERS WITH A LONG AND HONORED TRADITION OF CARING DEEPLY ABOUT STUDENTS AND THEIR EDUCATION. WE OFFER LIBERAL ARTS AND PROFESSIONAL EDUCATION IN COURSES OF STUDY FOR UNDERGRADUATE, SELECTED GRADUATE, AND OTHER INNOVATIVE DEGREE AND NON-DEGREE PROGRAMS. STUDENTS ARE CHALLENGED TO EXPERIMENT WITH IDEAS, RAISE QUESTIONS, CRITICALLY EXAMINE ALTERNATIVES, AND MAKE INFORMED DECISIONS. WE ENCOURAGE STUDENTS TO ACCEPT RESPONSIBILITY FOR THEIR LEARNING, TO DISCOVER AND PURSUE THEIR PASSIONS, AND TO PROMOTE MORE EQUITABLE AND SUSTAINABLE COMMUNITIES.OUR PURPOSES ARE TO PREPARE STUDENTS TO LEAD LIVES OF LEARNING, ACCOMPLISHMENT, AND SERVICE AND TO HELP THEM DEVELOP SKILLS AND ATTRIBUTES CRITICAL FOR SUCCESS IN A DIVERSE AND INTERDEPENDENT WORLD. WE PROMOTE DISTINCTIVE APPROACHES TO ENGAGED LEARNING THAT EMPHASIZE THEORY AND PRACTICE IN OUR ACADEMIC AND CO-CURRICULAR PROGRAMS. 0 0 67693458 28519026 61919754 INSTRUCTION: 1,022 STUDENTS IN UNDERGRADUATE PROGRAMS AND 334 STUDENTS IN GRADUATE PROGRAMS628 STUDENTS GRADUATED IN THE 2021-2022 ACADEMIC YEAR 67693458 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 1 1 0 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 248 0 1 1155 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 34 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 UT X DEBRA GLENN 8018322148 1840 SOUTH 1300 EAST SALT LAKE CITY UT 841053617 BETHAMI DOBKIN PRESIDENT 40.00 X X 553022 0 100267 PRESTON CHIARO CHAIRMAN 2.60 X 0 0 0 CATHERINE PUTNAM-NETTO VICE-CHAIRMAN 2.60 X 0 0 0 AMY WADSWORTH SECRETARY 1.60 X 0 0 0 WILLIAM ORCHOW TREASURER 1.60 X 0 0 0 KIM T ADAMSON TRUSTEE 1.60 X 0 0 0 GRETCHEN ANDERSON TRUSTEE 1.60 X 0 0 0 MICHAEL BILLS TRUSTEE 1.60 X 0 0 0 NANCY DEFORD TRUSTEE 1.60 X 0 0 0 BING L FANG TRUSTEE 1.60 X 0 0 0 THOMAS FEY TRUSTEE 1.60 X 0 0 0 MUFFY MEAD-FERRO TRUSTEE 1.60 X 0 0 0 DEANNA FORBUSH TRUSTEE 1.60 X 0 0 0 DANNY GIOVALE TRUSTEE 1.60 X 0 0 0 TERRY GRANT TRUSTEE 1.60 X 0 0 0 ADAM MANGONE TRUSTEE 1.60 X 0 0 0 JERILYN MCINTYRE TRUSTEE 1.60 X 0 0 0 PETER MICHELL TRUSTEE 1.60 X 0 0 0 O WOOD MOYLE IV TRUSTEE 1.60 X 0 0 0 L JACKSON NEWELL TRUSTEE 1.60 X 0 0 0 ROBERT RENDON TRUSTEE 1.60 X 0 0 0 ENGELS TEJEDA TRUSTEE 1.60 X 0 0 0 CHARLOTTE TULLOS TRUSTEE 1.60 X 0 0 0 DEBORAH TAHMASSEBI PROVOST 40.00 X 267707 0 44167 ERICA JOHNSON VP ENROLLMENT 40.00 X 195356 0 25667 DANIEL LEWIS VP INSTITUTIONAL ADVANCEMENT 40.00 X 196998 0 25667 KATHRYN HOLMES GENERAL COUNSEL & CRO 40.00 X 194347 0 25527 JAMES STIMPSON PROFESSOR 40.00 X 189099 0 44708 PETER GRECO VP AND CIO 40.00 X 163885 0 13161 SHEILA YORKIN CMO 40.00 X 162584 0 24079 MICHIKO PINNINGTON CFO/ VP FINANCE 40.00 X 155637 0 17780 BRAD MCQUEEN AVIATION CHAIR/ ASST PROF 40.00 X 203890 0 10256 2282525 0 331279 42 1 1 0 RIVERPARK SUGARHOUSE LLC 10701 S RIVER FRONT PARKWAY SOUTH JORDAN UT 84095 LEASE 1909994 AMERICAN MECHANICAL SYSTEMS 7530 S STATE ST SALT LAKE CITY UT 84047 MAINTENANCE & REPAIR 573091 PRAGER CO LLC ONE EMBARCADERO CENTER 16TH FLOOR SAN FRANCISCO CA 94111 ADVISOR SERVICES 300000 ROBERT FERRILLI LLC 4 KINGS HIGHWAY EAST HADDONFIELD NJ 08033 IS ADVISOR SERVICES 184086 MOSS ADAMS LLP PO BOX 101822 PASADENA CA 91189 AUDIT SERVICES 164850 6 2148261 6271834 8086454 3196612 16506549 TUITION AND FEES 51066649 51066649 AUXILIARY SERVICES 3579526 3579526 54646175 19334 19334 295 295 8426996 8170431 409 256565 -409 256156 256156 PPP LOAN FORGIVENESS 6288489 6288489 OTHER 956209 956209 ACTUARIAL GAIN ON ANNUITY OBLIGAT 20548 20548 7265246 78693755 61911421 0 275785 27341285 27341285 1177741 1177741 2241928 999499 1035907 206522 24055639 19793518 3398187 863934 1120176 805313 269195 45668 3674511 2597806 929257 147448 1889623 1507807 306999 74817 39413 39413 59220 6311 52909 380675 380675 3662590 2642044 1009697 10849 421719 36787 384932 1277431 802669 467654 7108 1361327 910144 427483 23700 3638 3638 2777023 678678 2098345 1912839 1814994 79789 18056 170266 166754 2983 529 2136134 1754624 381510 3364198 2354939 1009259 959316 164918 794398 OTHER 4393645 2133989 2239495 20161 84420337 67693458 15308087 1418792 22419550 20747595 10687224 6747091 1733990 282306 2045770 1530642 1266890 824997 140402389 65026523 78492165 75375866 106627858 88057795 4867277 11063147 228140724 204629439 4836639 5482545 1309084 872626 18376986 16666989 194559 181334 6762900 422906 16306303 15820297 47786471 39446697 X 53261993 51291377 127092260 113891365 180354253 165182742 228140724 204629439 -5726582 -9444929 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 385 0 0 385 0 PART II-B, LINE 1: THE DIRECTOR OF GOVERNMENT RELATIONS AND SPONSORED PROJECTS IS A FULL-TIME STAFF POSITION AT WESTMINSTER COLLEGE. THE EMPLOYEE SPENDS A PORTION OF TIME IN LOBBYING ACTIVITY. THE DIRECTOR OF GOVERNMENT RELATIONS AND SPONSORED PROJECTS DEVELOPED LEGISLATIVE COMMUNICATION, CONTACTED LEGISLATORS AND GOVERNMENT OFFICIALS BY EMAIL, MET WITH SOME LEGISLATORS AND GOVERNMENT OFFICIALS IN PERSON, ATTENDED LEGISLATIVE COMMITTEE MEETINGS AND FACILITATED TESTIMONY IN A LEGISLATIVE COMMITTEE MEETING TO INFLUENCE LEGISLATION. 897415 X X X 0 97421302 3452462 -9044649 3980689 420381 87428045 85358633 697048 24585107 13219486 97421302 85783803 629674 1645422 -1382799 -6726550 96168248 81766654 3014153 4132785 -1300791 -1828998 92043381 76444625 2981292 4967411 -1202963 -1423711 87020002 0.00000 0.73000 0.27000 1 0 2468785 2468785 114732199 45664464 69067735 3141057 2256554 884503 10279164 9253129 1026035 9781184 7852376 1928808 75375866 SHORT TERM INVESTMENTS 2509626 F FIXED INCOME 73829609 F EQUITIES 2034729 F OTHER 9683831 F 88057795 CONSTRUCTION IN PROCESS 11063147 11063147 FUNDS HELD ON DEPOSIT FOR OTHERS 423373 U.S. GOVERNMENT GRANTS RECEIVABLE 858988 FINANCE LEASE OBLIGATION 14537936 15820297 X 40729800 -9444929 -9444929 50174729 28519026 28519026 78693755 55901311 0 55901311 28519026 28519026 84420337 PART III, LINE 4: THE COLLEGE RECEIVED DONATIONS OF COLLECTION AND WORKS OF ART, THESE COLLECTIONS FURTHER THE COLLEGE'S EXEMPT PURPOSE BY ENHANCING THE EDUCATIONAL EXPERIENCE FOR THE STUDENTS BY USING THEM FOR DISCUSSIONS AND RESEARCH IN THE CLASSROOM AS WELL AS FOR PUBLIC EXHIBITION. PART V, LINE 4: THE INTENDED USE OF ENDOWMENT FUNDS IS TO PROVIDE SCHOLARSHIPS TO STUDENTS AND SUPPORT THE ACTIVITIES OF THE COLLEGE THROUGH DISTRIBUTION OF EARNINGS TO THE OPERATING FUND IN A MANNER CONSISTENT WITH DONOR RESTRICTIONS. PART X, LINE 2: THE COLLEGE FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAX UNDER IRC SECTION 501(C)(3), THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE COLLEGE HAS ALSO BEEN RECOGNIZED BY THE STATE OF UTAH AS AN ORGANIZATION THAT IS EXEMPT FROM INCOME EXCEPT TO THE EXTENT OF UNRELATED BUSINESS INCOME. THE COLLEGE HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE COLLEGE HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 28,519,026. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 28,519,026. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 WESTMINSTER ("COLLEGE") IS COMMITTED TO PROVIDING A SAFE AND NON-DISCRIMINATORY ENVIRONMENT FOR ALL MEMBERS OF THE COLLEGE COMMUNITY. THE COLLEGE WILL NOT TOLERATE DISCRIMINATION OR HARASSMENT, IN THE WORKPLACE, ACADEMIC SETTING, OR IN ITS PROGRAMS OR ACTIVITIES BASED ON RACE, COLOR, PREGNANCY, CHILDBIRTH, OR PREGNANCY-RELATED CONDITIONS, AGE, RELIGION, NATIONAL ORIGIN, DISABILITY, SEX, SEXUAL ORIENTATION, GENDER IDENTITY, RELIGION, MILITARY STATUS, AND GENETIC INFORMATION. TO THAT END, THIS POLICY PROHIBITS SPECIFIC FORMS OF BEHAVIOR THAT VIOLATE TITLES VI AND VII OF THE CIVIL RIGHTS ACT OF 1964, THE AGE DISCRIMINATION IN EMPLOYMENT ACT OF 1967, SECTION 504 OF THE REHABILITATION ACT OF 1973, THE AMERICANS WITH DISABILITIES ACT OF 1990, AS AMENDED, THE GENETIC INFORMATION NONDISCRIMINATION ACT OF 2008, AND THE UTAH ANTI DISCRIMINATION ACT OF 1965. THE COLLEGE ALSO PROHIBITS COMPLICITY, FALSE REPORTING, AND RETALIATION UNDER THIS POLICY. SCHEDULE E, PART I, LINE 6 WESTMINSTER COLLEGE PARTICIPATES IN VARIOUS FINANCIAL ASSISTANCE PROGRAMS AS AUTHORIZED BY TITLE IV OF THE HIGHER EDUCATION ACT OF 1965 AND ADMINISTERED BY THE U.S. DEPARTMENT OF EDUCATION. SCHEDULE E, PART I, LINE 3 (CONTINUED): IN ADDITION, THE COLLEGE PROHIBITS SEXUAL ASSAULT, SEXUAL AND GENDER-BASED HARASSMENT, GENDER-BASED DISCRIMINATION, SEXUAL EXPLOITATION, INTERPERSONAL VIOLENCE, AND OTHER CONDUCT THAT VIOLATES TITLE IX OF THE EDUCATION AMENDMENTS OF 1972 ("TITLE IX") OR THE COLLEGE'S OBLIGATIONS UNDER THE VIOLENCE AGAINST WOMEN REAUTHORIZATION ACT OF 2013 ("VAWA") AND THE JEANNE CLERY DISCLOSURE OF CAMPUS SECURITY POLICY AND CAMPUS CRIME STATISTICS ACT ("CLERY ACT"). THOSE CATEGORIES OF PROHIBITED CONDUCT ARE GOVERNED BY THE COLLEGE'S POLICY ON SEXUAL ASSAULT, SEXUAL AND GENDER-BASED HARASSMENT, GENDER-BASED DISCRIMINATION, AND INTERPERSONAL VIOLENCE ("TITLE IX POLICY"), WHICH ALSO ESTABLISHES SEPARATE PROCEDURES THAT OUTLINE REPORTING OPTIONS AND EXPLAIN HOW THE COLLEGE ASSESSES, INVESTIGATES, AND RESOLVES REPORTS OF SUCH PROHIBITED CONDUCT AGAINST STUDENTS AND EMPLOYEES. WHERE A REPORTING PARTY ALLEGES CONDUCT THAT MAY GIVE RISE TO VIOLATIONS OF THIS POLICY AND THE TITLE IX POLICY, THE TITLE IX COORDINATOR WILL DETERMINE THE APPROPRIATE PROCEDURES FOR INVESTIGATING THE ALLEGATIONS. THE TITLE IX POLICY SUPERSEDES ANY CONFLICTING PROVISIONS CONTAINED IN THIS POLICY. 1 MIDDLE EAST AND NORTH AFRICA PROGRAM SERVICES ACADEMIC SUPPORT EAST ASIA AND THE PACIFIC PROGRAM SERVICES ACADEMIC SUPPORT, INSTRUCTION, UNDERGRADUATE TRIP 127018 EUROPE (INCLUDING ICELAND & GREENLAND) PROGRAM SERVICES GRADUATE TRIP, INSTRUCTION, STUDENT SERVICES, UNDERGRADUATE TRIP 745523 NORTH AMERICA PROGRAM SERVICES ACADEMIC SUPPORT, INSTITUIONAL SUPPORT, INSTRUCTION, UNDERGRADUATE TRIP 30366 SOUTH AMERICA PROGRAM SERVICES ACADEMIC SUPPORT RUSSIA AND THE NEWLY INDEPENDENT STATES PROGRAM SERVICES ACADEMIC SUPPORT 315 0 0 0 0 0 0 903222 0 903222 INSTITUTIONAL SCHOLARSHIP MIDDLE EAST AND NORTH AFRICA 5 108750 WIRE/ACH CASH INSTITUTIONAL SCHOLARSHIP EAST ASIA AND THE PACIFIC 21 415271 WIRE/ACH CASH INSTITUTIONAL SCHOLARSHIP EUROPE (INCLUDING ICELAND & GREENLAND) 19 471250 WIRE/ACH CASH INSTITUTIONAL SCHOLARSHIP NORTH AMERICA 3 78250 WIRE/ACH CASH INSTITUTIONAL SCHOLARSHIP SOUTH AMERICA 3 104220 WIRE/ACH CASH 0 0 0 0 0 0 PART I, LINE 2: THE COLLEGE REPORTS ARE REGULARLY REVIEWED TO BE CERTAIN FUNDS ARE USED FOR PROPER PURPOSES. FEDERAL GRANT REPORTING AND RECONCILIATION OCCURS MONTHLY AND DURING THE YEARLY SINGLE AUDIT. AWARDING PRACTICES ARE REVIEWED FOR COMPLIANCE WITH FEDERAL REGULATIONS. STUDENTS ARE REVIEWED YEARLY FOR CONTINUED AND NEW FUND ELIGIBILITY TO BE SURE ACADEMIC STANDARDS AND OTHER GRANT-SPECIFIC CRITERIA HAVE BEEN MET. PART III ACCOUNTING METHOD: 1 INSTITUTIONAL SCHOLARSHIPS 1395 22315952 BOOK VALUE UCOPE-HESSP 2 5000 BOOK VALUE TEACH 13 45526 BOOK VALUE NSF GRANT 5 35615 BOOK VALUE CARES 855 2493454 BOOK VALUE ANNUAL SCHOLARSHIPS 275 982091 BOOK VALUE ENDOWED SCHOLARSHIPS 471 1463647 BOOK VALUE PART I, LINE 2: THE COLLEGE REPORTS ARE REGULARLY REVIEWED TO BE CERTAIN FUNDS ARE USED FOR PROPER PURPOSES. FEDERAL GRANT REPORTING AND RECONCILIATION OCCURS MONTHLY AND DURING THE YEARLY SINGLE AUDIT. AWARDING PRACTICES ARE REVIEWED FOR COMPLIANCE WITH FEDERAL REGULATIONS. STUDENTS ARE REVIEWED YEARLY FOR CONTINUED AND NEW FUND ELIGIBILITY TO BE SURE ACADEMIC STANDARDS AND OTHER GRANT-SPECIFIC CRITERIA HAVE BEEN MET. X X X X 1 1 0 0 0 0 0 0 0 BETHAMI DOBKIN PRESIDENT 378536 0 174486 0 0 0 0 0 100267 0 653289 0 0 0 DEBORAH TAHMASSEBI PROVOST 267707 0 0 0 0 0 0 0 44167 0 311874 0 0 0 JAMES STIMPSON PROFESSOR 188882 0 217 0 0 0 0 0 44708 0 233807 0 0 0 DANIEL LEWIS VP INSTITUTIONAL ADVANCEMENT 196998 0 0 0 0 0 0 0 25667 0 222665 0 0 0 ERICA JOHNSON VP ENROLLMENT 195356 0 0 0 0 0 0 0 25667 0 221023 0 0 0 KATHRYN HOLMES GENERAL COUNSEL & CRO 194239 0 108 0 0 0 0 0 25527 0 219874 0 0 0 BRAD MCQUEEN AVIATION CHAIR/ ASST PROF 69327 0 134563 0 0 0 0 0 10256 0 214146 0 0 0 SHEILA YORKIN CMO 142324 0 0 0 20260 0 0 0 24079 0 186663 0 0 0 PETER GRECO VP AND CIO 163885 0 0 0 0 0 0 0 13161 0 177046 0 0 0 MICHIKO PINNINGTON CFO/ VP FINANCE 155637 0 0 0 0 0 0 0 17780 0 173417 0 0 0 PART I, LINES 4A-B FOR EACH YEAR OF SERVICE, THE PRESIDENT SHALL ACCRUE SUPPLEMENTAL DEFERRED COMPENSATION BENEFITS EQUAL TO 10% OF BASE SALARY. THE COLLEGE SHALL CONTRIBUTE 14% OF THE PRESIDENT'S ANNUAL SALARY INTO A NONQUALIFIED DEFERRED COMPENSATION PLAN. THE PRESIDENT BECOMES ELIGIBLE AND VESTS FOR THE BENEFITS AFTER THE CONCLUSION OF EACH THREE OR TWO-YEAR CONTRACT. A SALT LAKE COUNTY UTAH 876000316 79567PDZ3 2015-04-21 12180302 TO ADVANCE REFUND THE CALLABLE 0 0 0 B SALT LAKE COUNTY UTAH 876000316 79567PEM1 2017-01-05 13778736 TO ADVANCE REFUND THE CALLABLE 0 0 0 A 12180302 1162856 560568 2006 0 1 1 1 B 13778736 1315459 739945 2008 0 1 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 0 0 0 0 0 0 0 1 B 0 0 0 0 0 0 0 0 1 A 0 B 0 SCHEDULE K, SUPPLEMENTAL INFORMATION THE MOST RECENT ARBITRAGE REBATE CALCULATION WAS PERFORMED IN APRIL 2020 FOR THE 2015 BOND ISSUE. THE ARBITRAGE REBATE COMPUTATION FOR THE 2017 BOND ISSUE IS CURRENTLY IN PROGRESS. THE LAST REBATE CALCULATION FOR THE 2017 BOND WAS PERFORMED ON 1/5/18. X 1 7500 FAIR MARKET VALUE X 7 3162826 FAIR MARKET VALUE X EVENTS & CATERING 3 14379 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES SHALL INCLUDE THE OFFICERS OF THE BOARD OF TRUSTEES, THE PRESIDENT, AND THE CHAIRS OF THE STANDING COMMITTEES OF THE BOARD. THE CHAIR OF THE BOARD OF TRUSTEES SHALL BE THE CHAIR OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL PERFORM THE FOLLOWING DUTIES: - REPRESENT THE BOARD OF TRUSTEES IN THE INTERVALS BETWEEN BOARD MEETINGS ON ACTIONS WHICH MUST BE FINAL AND APPROVED PRIOR TO THE NEXT MEETING OF THE BOARD AND ON THE MATTERS AS DELEGATED BY THE BOARD OF TRUSTEES TO THE EXECUTIVE COMMITTEE, EXCEPT TO THE EXTENT PROHIBITED BY THESE BYLAWS AND THE UTAH REVISED NONPROFIT CORPORATION ACT 2000, AND ANY SUBSEQUENT AMENDMENTS OR SUCCESSOR THERETO; - REPORT ALL EXECUTIVE COMMITTEE ACTIONS SHALL BE THE FINAL AND OFFICIAL ACTIONS OF THE CORPORATION, UNLESS THE BOARD OF TRUSTEES IS RESPONSIBLE FOR FINAL ACTION ON THE MATTER PURSUANT TO THE TERMS OF THESE BYLAWS OR THE EXECUTIVE COMMITTEE INDICATES THAT ITS ACTION IS A RECOMMENDATION TO THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B THE WESTMINSTER COLLEGE (THE "COLLEGE") TAX RETURN IS PREPARED BY TANNER LLC, AND REVIEWED BY THE DIRECTOR OF BUDGET AND REPORTING AND THE VP OF FINANCE AND ADMINISTRATION. ONCE COMPLETED, THE DOCUMENTS ARE REVIEWED BY THE AUDIT AND RISK MANAGEMENT COMMITTEE AND SUBMITTED ELECTRONICALLY TO THE FULL BOARD OF TRUSTEES. ONCE THE TRUSTEES HAVE REVIEWED, THE RETURN IS TRANSMITTED ELECTRONICALLY TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C PROCESS OF IDENTIFICATION: THE SECRETARY OF THE BOARD WILL COLLECT STATEMENTS OF DISCLOSURE FROM ALL TRUSTEES, OFFICERS, AND KEY EMPLOYEES EACH YEAR AT THE FIRST BOARD MEETING OF THE COLLEGE'S FISCAL YEAR AND FROM ALL NEW TRUSTEES, OFFICERS, AND KEY EMPLOYEES AT THE TIME OF THEIR APPOINTMENT. THE AUDIT AND RISK MANAGEMENT COMMITTEE WILL REVIEW EACH STATEMENT OF DISCLOSURE FOR ACTUAL OR POTENTIAL CONFLICTS OF INTEREST, INCLUDING, BUT NOT LIMITED TO, THE FOLLOWING FACTORS: - SOLICITATION OR ACCEPTANCE OF GIFTS, GRATUITIES, FREE TRAVEL, OR OTHER ITEMS OF VALUE THAT COULD CREATE THE APPEARANCE OF A CONFLICT OR AN EXPECTATION OF SPECIAL TREATMENT IN COLLEGE MATTERS; - INCIDENTS OF ABUSE OR MISUSE OF AN INDIVIDUAL'S POSITION FOR PERSONAL OR THIRD-PARTY GAIN OR BENEFIT; - USE OF THE COLLEGE'S STAFF, SERVICES, EQUIPMENT, MATERIALS, RESOURCES, OR PROPERTY FOR PERSONAL OR THIRD PARTY GAIN, OR REPRESENTING TO THIRD PARTIES THAT ONE'S AUTHORITY AS A TRUSTEE, OFFICER, VOLUNTEER, OR KEY EMPLOYEE IS MORE EXTENSIVE THAN IT IS IN ACTUALITY; - SITUATIONS WHERE A TRUSTEE, OFFICER, OR KEY EMPLOYEE MAY BE DIVIDED BETWEEN PERSONAL INTERESTS OR THE INTERESTS OF ANOTHER ORGANIZATION AND THE BEST INTERESTS OF THE COLLEGE; - ENGAGEMENT IN BUSINESS, PROFESSIONAL CONDUCT, OR OTHER ACTIVITIES THAT MAY BE DIRECTLY OR INDIRECTLY ADVERSE TO THE INTERESTS OF THE COLLEGE; AND, - ANY ARRANGEMENTS IN WHICH A TRUSTEE, OFFICER, OR KEY EMPLOYEE PROVIDES GOODS OR SERVICES TO THE COLLEGE AS A PAID VENDOR OR OUTSIDE SERVICE-PROVIDER. THE AUDIT AND RISK MANAGEMENT COMMITTEE MAY REQUEST ADDITIONAL INFORMATION FROM ANY TRUSTEE, OFFICER, OR KEY EMPLOYEE AT ANY TIME. WHILE AN INDIVIDUAL'S RELATIONSHIPS OR ACTIVITIES ARE UNDER REVIEW, THE INDIVIDUAL MAY NOT DELIBERATE, DEBATE, OR VOTE UNTIL A DETERMINATION IS MADE. RESOLUTION: WHEN THE AUDIT AND RISK MANAGEMENT COMMITTEE OR THE BOARD OF TRUSTEES IDENTIFIES AN ACTUAL, POTENTIAL, OR APPARENT CONFLICT OF INTEREST, IT MAY TAKE ONE OF THE FOLLOWING ACTIONS TO RESOLVE SUCH CONFLICT: - WAIVE THE CONFLICT OF INTEREST AS UNLIKELY TO AFFECT THE TRUSTEE'S, OFFICER'S, VOLUNTEER'S, OR KEY EMPLOYEE'S ABILITY TO ACT IN THE BEST INTERESTS OF THE COLLEGE; - RECUSE THE INDIVIDUAL TRUSTEE, OFFICER, VOLUNTEER, OR KEY EMPLOYEE FROM DELIBERATION OR DECISION-MAKING RELATED TO THE SPECIFIC MATTER GIVING RISE TO THE CONFLICT. - REQUEST THE RESIGNATION OF THE TRUSTEE, OFFICER, VOLUNTEER OR KEY EMPLOYEE FROM HIS OR HER SERVICE OR POSITION AT THE COLLEGE BECAUSE THE CONFLICT OF INTEREST IS SO PERVASIVE THAT IT IS LIKELY THE TRUSTEE, OFFICE OR KEY EMPLOYEE WOULD BE UNABLE TO ACT SOLELY IN THE BEST INTERESTS OF THE COLLEGE. THE BOARD OF TRUSTEES HAS FINAL AUTHORITY OVER THE RESOLUTION OF ALL CONFLICTS OF INTEREST INVOLVING A TRUSTEE, OFFICER, OR KEY EMPLOYEE AND MAY OVERRULE ANY DECISION OF THE AUDIT AND RISK MANAGEMENT COMMITTEE MAY REFER ANY CONFLICT OF ISSUE MATTER TO THE BOARD AT ANY TIME. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES OF WESTMINSTER COLLEGE IS RESPONSIBLE FOR THE COMPENSATION REVIEW AND APPROVAL PROCESS FOR OFFICERS AND KEY EMPLOYEES. REVIEW OF THE PRESIDENT. THE EXECUTIVE COMMITTEE IS RESPONSIBLE TO CONDUCT AN ANNUAL EVALUATION OF THE PRESIDENT, AND TO REVIEW AND MAKE RECOMMENDATIONS REGARDING THE TERMS OF THE CONTRACT WITH THE PRESIDENT, INCLUDING COMPENSATION. THE EXECUTIVE COMMITTEE WILL CONDUCT AND ANNUAL REVIEW OF THE PRESIDENT'S COMPENSATION. CONCURRENT WITH THIS REVIEW, THE EXECUTIVE COMMITTEE SHALL EVALUATE AN ANNUAL REPORT OF THE PRESIDENT'S PERFORMANCE, PROVIDED BY THE PRESIDENT. IN FORMING A RECOMMENDATION REGARDING THE PRESIDENT'S COMPENSATION, THE EXECUTIVE COMMITTEE WILL RELY ON COMPARABILITY DATA OF THE COMPENSATION PAID TO PRESIDENTS BY SIMILAR INSTITUTIONS. THIS DATA MAY INCLUDE COMPENSATION STUDIES BY INDEPENDENT ORGANIZATIONS, WRITTEN JOB OFFERS FOR POSITIONS AT SIMILAR ORGANIZATIONS, AND INFORMATION OBTAINED FROM THE IRS FORM 990 FILINGS OF SIMILAR ORGANIZATIONS. THE EXECUTIVE COMMITTEE WILL FORWARD ITS RECOMMENDATION TO THE FULL BOARD OF TRUSTEES FOR APPROVAL OF THE PRESIDENT'S COMPENSATION AND CONTRACT TERMS. REVIEW OF OTHER OFFICERS AND KEY EMPLOYEES. ON AN ANNUAL BASIS, THE PRESIDENT WILL PRESENT TO THE EXECUTIVE COMMITTEE HIS OR HER REPORT ON COMPENSATION FOR THE PROVOST, VICE PRESIDENTS, PRESIDENT'S CABINET, AND ANY OTHER STAFF WHO REPORT DIRECTLY TO THE PRESIDENT, AND COVERED EMPLOYEES (COLLECTIVELY "EXECUTIVE OFFICERS") INCLUDING COMPARABILITY DATA AND PERFORMANCE INFORMATION. THE EXECUTIVE COMMITTEE IS RESPONSIBLE TO OVERSEE THE COMPENSATION OF THE EXECUTIVE OFFICERS TO ENSURE COMPENSATION IS FAIR, EFFECTIVE, AND REASONABLE. DOCUMENTATION. THE EXECUTIVE COMMITTEE WILL TAKE AND KEEP MINUTES THAT DOCUMENT ITS REVIEW PROCESS AND HOW IT FORMED ITS RECOMMENDATIONS. THE MINUTES WILL INCLUDE THE FOLLOWING: 1. THE TERMS OF THE COMPENSATION AND CONTRACT TERMS AND THE DATE IT WAS RECOMMENDED; 2. THE MEMBERS OF THE BOARD OF TRUSTEES WHO WERE PRESENT DURING THE MEETINGS AND WHO VOTED ON THE RECOMMENDATION; AND 3. THE COMPARABILITY DATA OBTAINED AND REVIEWED AND THE SOURCE OF THE DATA. THE BOARD OF TRUSTEES WILL TAKE AND KEEP MINUTES THAT DOCUMENT ITS ACTIONS. THE MINUTES WILL INCLUDE THE FOLLOWING: 1. THE TERMS OF THE COMPENSATION AND CONTRACT TERMS; 2. THE DATE THE COMPENSATION AND CONTRACT TERMS WERE APPROVED; AND 3. THE MEMBERS OF THE BOARD OF TRUSTEES WHO WERE PRESENT DURING THE MEETING AND WHO VOTED ON THE APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 THE FOLLOWING RECORDS OF WESTMINSTER COLLEGE ARE AVAILABLE FOR PUBLIC INSPECTION AND COPYING, UPON REQUEST: - EXEMPTION LETTER - AUDITED FINANCIAL STATEMENTS WITH SINGLE AUDIT REPORTS FOR THE THREE FISCAL YEARS PRIOR TO THE DATE OF THE REQUEST - TAX FILINGS FORM 990 AND 990T FOR THE THREE FISCAL YEARS PRIOR TO THE DATE OF THE REQUEST TO MAKE A REQUEST TO INSPECT AND/OR ACQUIRE A COPY OF THESE RECORDS, CONTACT THE VP OF FINANCE AND ADMINISTRATION, OFFICE OF ADMINISTRATIVE SERVICES, AT 801-832-2148. BILL AND VIEVE GORE ENDOWMENT FUND 1840 SOUTH 1300 EAST SALT LAKE CITY UT 84105 876213067 ENDOWMENT EARNINGS TO WESTMINSTER COLLEGE OF SALT LAKE CITY UT 501(C)(3) 509(A)(3) TYPE I 0 WESTMINSTER SUPPORT FOUNDATION INC 595 S RIVERWOODS PKWY STE 400 LOGAN UT 84321 464875631 PROVIDE FINANCIAL SUPPORT TO WESTMINSTER UT 501(C)(3) 509(A)(3) TYPE I 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 BILL & VIEVE GORE ENDOWMENT FUND C 2078261 END SPENDING RATE WESTMINSTER SUPPORT FOUNDATION INC C 70000 MARKET RATE