2023-05-15T09:40:23-05:00 2022-06-30 410746749 CLIFTONLARSONALLEN LLP 8390 EAST CRESCENT PARKWAY SUITE 300 GREENWOOD VILLAGE CO 80111 990 2021-07-01 860294012 PRESCOTT COLLEGE INC PRES 9283504010 220 GROVE AVE PRESCOTT AZ 86301 BARBARA MORRIS PRESIDENT 9283504010 2023-05-11 1 BARBARA MORRIS XXX-XX-XXXX SARAH HINTZ P00492291 3037795710 2023-05-11 0 AAL1 IAL1 2021 2023-04-26 12:10:37Z BARBARA MORRIS 220 GROVE AVE PRESCOTT AZ 86301 27316914 0 X WWW.PRESCOTT.EDU X 1975 AZ TOGETHER, WE CREATE INTERDISCIPLINARY, EXPERIENTIAL, AND DIVERSE LEARNING ENVIRONMENTS THAT INSPIRE FUTURE LEADERS TO DEVELOP A HEALTHY, JUST AND SUSTAINABLE WORLD. 20 18 588 20 0 0 6733461 5447232 20516265 21045321 49586 57450 688269 197714 27987581 26747717 7152104 6297510 0 0 11667544 12207174 0 0 286201 6894013 6104336 25713661 24609020 2273920 2138697 32109513 31324779 14030271 11147715 18079242 20177064 X TOGETHER, WE CREATE INTERDISCIPLINARY, EXPERIENTIAL, AND DIVERSE LEARNING ENVIRONMENTS THAT INSPIRE FUTURE LEADERS TO DEVELOP A HEALTHY, JUST AND SUSTAINABLE WORLD. WE VALUE OUR INCLUSIVE COMMUNITY, EXPERIENTIAL AND FIELD-BASED LEARNING, A CULTURE OF CREATIVITY, JUSTICE, INDIVIDUALIZED EDUCATION, AND REGENERATIVE SUSTAINABILITY. PRESCOTT COLLEGE PROVIDES EXPERIENTIAL AND COLLABORATIVE EDUCATION, CREATING OPPORTUNITIES FOR STUDENTS TO EFFECT POSITIVE CHANGE IN EDUCATION, ENVIRONMENT, AND SOCIETY. 0 0 15962458 5332119 8180299 UNDERGRADUATE - ON-CAMPUS: PRESCOTT COLLEGE OFFERS EXPERIENCE-BASED BACHELOR OF ARTS, BACHELOR OF SCIENCE, AND BACHELOR OF FINE ARTS DEGREES FOCUSED ON JUSTICE, THE ENVIRONMENT, EDUCATION, ADVENTURE EDUCATION, AND THE HUMAN EXPERIENCE WITHIN A LIBERAL ARTS CURRICULUM. IN 2022, PRESCOTT COLLEGE EARNED A STARS SILVER RATING IN RECOGNITION OF ITS SUSTAINABILITY ACHIEVEMENTS FROM THE ASSOCIATION FOR THE ADVANCEMENT OF SUSTAINABILITY IN HIGHER EDUCATION (AASHE). STARS, THE SUSTAINABILITY TRACKING, ASSESSMENT & RATING SYSTEM MEASURES AND ENCOURAGES SUSTAINABILITY IN ALL ASPECTS OF HIGHER EDUCATION. PRESCOTT COLLEGE HAS ALSO BEEN RECOGNIZED BY US NEWS AND WORLD REPORT IN 2022 AS A TOP PERFORMER FOR SOCIAL MOBILITY. FALL 2021 FULL-TIME EQUIVALENTS 236 407607 52531 1626128 UNDERGRADUATE - ON-LINE: PRESCOTT COLLEGE OFFERS ONLINE YET EXPERIENCE-BASED BACHELOR OF ARTS, BACHELOR OF SCIENCE, AND BACHELOR OF FINE ARTS DEGREES FOCUSED ON JUSTICE, THE ENVIRONMENT, EDUCATION, ADVENTURE EDUCATION, AND THE HUMAN EXPERIENCE WITHIN A LIBERAL ARTS CURRICULUM. IN 2022 PRESCOTT COLLEGE EARNED A STARS SILVER RATING IN RECOGNITION OF ITS SUSTAINABILITY ACHIEVEMENTS FROM THE ASSOCIATION FOR THE ADVANCEMENT OF SUSTAINABILITY IN HIGHER EDUCATION (AASHE). STARS, THE SUSTAINABILITY TRACKING, ASSESSMENT & RATING SYSTEM MEASURES AND ENCOURAGES SUSTAINABILITY IN ALL ASPECTS OF HIGHER EDUCATION. PRESCOTT COLLEGE HAS ALSO BEEN RECOGNIZED BY US NEWS AND WORLD REPORT IN 2022 AS A TOP PERFORMER FOR SOCIAL MOBILITY. FALL 2021 FULL-TIME EQUIVALENTS 129 913571 250572 4010594 COUNSELING - MASTERS - PRESCOTT COLLEGE'S CACREP-ACCREDITED MS IN COUNSELING GIVES STUDENTS THE OPPORTUNITY TO FOCUS ON AREAS OF EMPHASIS INCLUDING: HUMAN SEXUALITY COUNSELING; MARRIAGE, COUPLE, AND FAMILY COUNSELING; SOCIAL JUSTICE IN COUNSELING; AND SOMATIC COUNSELING. STUDENTS CAN ALSO EARN POST GRADUATE CERTIFICATES IN ADVENTURE-BASED COUNSELING, NATURE-BASED COUNSELING, OR EXPRESSIVE ART THERAPY TO ENHANCE THEIR LEARNING AND FUTURE PRACTICE. IN 2023, PRESCOTT COLLEGE LAUNCHED A NEW EDUCATION SPECIALIST (ED.S.) DEGREE IN EXPERIENTIAL COUNSELING. THE PROGRAM IS DESIGNED TO DEVELOP SKILLS AND KNOWLEDGE NECESSARY TO INCORPORATE THE EXPERIENCE OF EXPERIENTIAL COUNSELING, PARTICULARLY IN ADVENTURE-BASED, NATURE-BASED, AND OUTDOOR MODALITIES. GRADUATES OF THE PROGRAM WILL BE EMPLOYABLE IN A RANGE OF SETTINGS, FROM EDUCATIONAL TO CLINICAL. FALL 2021 FULL-TIME EQUIVALENTS 159 368364 0 368364 TITLE III PROGRAM: PRESCOTT COLLEGE HAS RECEIVED A $2.2-MILLION GRANT FROM THE U.S. DEPARTMENT OF EDUCATION THROUGH THE TITLE III STRENGTHENING INSTITUTIONS PROGRAM (SIP) TO IMPLEMENT A COMPREHENSIVE DEVELOPMENT PLAN: MAKING A DIFFERENCE: TRANSFORMING THE UNDERGRADUATE EXPERIENCE. THE AWARD, WHICH IS BEING DISTRIBUTED OVER FIVE YEARS, PROVIDES THE COLLEGE WITH THE RESOURCES TO SIGNIFICANTLY INCREASE STUDENT SUCCESS, ENSURE INSTITUTIONAL VITALITY, AND INTENSIFY ITS EFFORT TO DEVELOP LEADERS FOR THE FUTURE. THIS IS THE FIRST TIME THAT PRESCOTT COLLEGE HAS RECEIVED TITLE III FUNDS. THE TITLE III PROJECT IS DRIVEN BY GOALS INTENDED TO REMOVE BARRIERS FOR THE IDENTIFIED MINORITY GROUPS, PROVIDING EQUAL ACCESS AND PARTICIPATION IN HIGHER EDUCATION TIED TO DEGREE ATTAINMENT AND ECONOMIC MOBILITY. THE INITIAL AWARD FOR THE FIRST YEAR IS DESIGNED TO HELP ELIGIBLE INSTITUTIONS OF HIGHER EDUCATION TO BECOME SELF-SUFFICIENT AND EXPAND THEIR CAPACITY TO SERVE LOW-INCOME STUDENTS BY PROVIDING FUNDS TO IMPROVE AND STRENGTHEN THE ACADEMIC QUALITY, INSTITUTIONAL MANAGEMENT AND FISCAL STABILITY OF ELIGIBLE INSTITUTIONS. 1191364 0 1484408 ARIZONA SERVE PROGRAM: THE MISSION OF ARIZONA SERVE IS TO CONNECT PASSIONATE PEOPLE WITH TRANSFORMATIVE COMMUNITY PROJECTS TO FIGHT POVERTY. THE VISION IS THAT COMMUNITIES AND THE INDIVIDUALS WHO SERVE THEM THRIVE WHEN EVERY PERSON CONTRIBUTES TO A SUSTAINABLE AND JUST EXISTENCE. ARIZONA SERVE INCLUDES AMERICACORPS AND VISTA NATIONAL SERVICE PROGRAMS DESIGNED TO IMPROVE LIVES AND FOSTER CIVIC ENGAGEMENT. MEMBERS COMMIT THEIR TIME TO ADDRESS CRITICAL COMMUNITY NEEDS LIKE INCREASING ACADEMIC ACHIEVEMENT, MENTORING YOUTH, FIGHTING POVERTY, SUSTAINING NATIONAL PARKS, PREPARING FOR DISASTERS, AND MORE. FY 2021-22 MEMBERS - 175 2572641 662288 5447928 MASTERS AND PHD ON-LINE: PRESCOTT COLLEGE MASTERS AND PHD PROGRAMS ARE OFFERED IN THE AREAS OF SUSTAINABILITY, SOCIAL JUSTICE, BUSINESS, EDUCATION, COUNSELING, PSYCHOLOGY, OUTDOOR EDUCATION, AND INTERDISCIPLINARY STUDIES. ALL PROGRAMS ARE OFFERED IN AN ONLINE OR HYBRID FORMAT WHILE FOCUSING ON EXPERIENTIAL EDUCATION. XX% OF FACULTY HOLD TERMINAL DEGREES IN THEIR FIELDS. THEY FREQUENTLY SERVE AS SUBJECT MATTER EXPERTS IN THE LOCAL AND NATIONAL COMMUNITIES THROUGH PUBLISHED WORKS AND SPEAKING ENGAGEMENTS. FALL 2021 FULL-TIME EQUIVALENTS 238 4132369 662288 7300700 21416005 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 1 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 1 0 0 0 0 1 170 0 1 588 1 0 1 MX 0 0 0 0 0 0 0 1 0 0 0 X 20 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AZ X X MICHELE PETERSON 9283504010 220 GROVE AVE PRESCOTT AZ 86301 PAUL BURKHARDT PROVOST 40.00 X 166770 0 6977 BARBARA MORRIS PRESIDENT/CEO 40.00 X X 153879 0 2928 JOHN FLICKER PRESIDENT/CEO THRU JULY 2022 40.00 X X 130633 0 4415 CARLA SNOOK MARKETING STRATEGIST 40.00 X 120526 0 54394 ANDREA JAECKEL CFO 40.00 X 116652 0 6273 JERRI BROWN DEPUTY COO 40.00 X 113035 0 6083 JULIE MUNRO SECRETARY - FACULTY REPRESENTATIVE 1.00 X X 57940 0 6119 ROXANN GALLAGHER TRUSTEE THRU MAY 2022 1.00 X 49759 0 0 KACEY MILLER TRUSTEE - STAFF REPRESENTATIVE 1.00 X 41128 0 6041 ALETHA MCCULLOUGH TRUSTEE THRU MAY 2022 1.00 X 8800 0 0 CLAUDIA KLINE TRUSTEE THRU MAY 2022 1.00 X 3101 0 0 LYNNE NEMETH CHAIRMAN 1.00 X X 0 0 0 JESSE HERNREICH VICE CHAIR 1.00 X X 0 0 0 JAMES P WALSH IMMED. PAST CHAIRMAN THRU MAY 2022 1.00 X X 0 0 0 GEOFFREY BARNARD TRUSTEE 1.00 X 0 0 0 MEGAN BLOOMER TRUSTEE 1.00 X 0 0 0 MERRILEE CALDWELL TRUSTEE 1.00 X 0 0 0 JENNIE MARIE DURAN TRUSTEE 1.00 X 0 0 0 CRISTINA EISENBERG TRUSTEE 1.00 X 0 0 0 CORAL EVANS TRUSTEE 1.00 X 0 0 0 ELLEN HEFFERNAN TRUSTEE 1.00 X 0 0 0 JAYANNA KILLINGSWORTH TRUSTEE 1.00 X 0 0 0 TAMMY MCLEOD TRUSTEE 1.00 X 0 0 0 ELLIOT ROGERS TRUSTEE 1.00 X 0 0 0 KATRINA ROGERS TRUSTEE 1.00 X 0 0 0 KATHLEEN MURPHY TRUSTEE 1.00 X 0 0 0 TONY SKRELUNAS TRUSTEE 1.00 X 0 0 0 MARK THORKELSON TRUSTEE 1.00 X 0 0 0 ANNETTE TRACY TRUSTEE 1.00 X 0 0 0 MICHAEL ZIMBER TRUSTEE 1.00 X 0 0 0 962223 0 93230 6 0 1 0 ELLUCIAN COMPANY 62578 COLLECTIONS CENTER DR CHICAGO IL 60693 SOFTWARE LICENSES & MAINTENANCE 163479 GOLD-ATLAS EXPEDITIONS N/A NAIROBI KE FIELD STATION SUPPORT 149162 COLLEGIATE ENTERPRISE SOLUTIONS LLC 3 CENTENNIAL DR 50G PEABODY MA 01960 CONSULTING 130325 EBSCO INDUSTRIES INC 5724 US-280 BIRMINGHAM AL 35242 CONSULTING 124365 4 10000 3402646 2034586 27980 5447232 TUITION & STUDENT FEES 611310 19053420 19053420 STUDENT SERVICE FEES 611310 895792 895792 STUDENT HOUSING 611310 680272 680272 TECHNOLOGY 611310 289800 289800 SUSTAINABILITY 611310 126000 126000 37 37 21045321 69580 69580 135499 10185 125314 125314 125314 495000 507130 -12130 -12130 -12130 124282 51882 72400 72400 26747717 21117721 0 182764 6136578 6136578 160932 160932 828033 117298 645098 65637 9290354 8346602 918728 25024 114301 114301 1171778 1081285 87236 3257 802708 710356 88932 3420 58347 58347 90261 90261 14740 14740 1347728 1091004 104364 152360 467621 434122 30910 2589 156159 60654 94088 1417 740627 271324 441313 27990 1106243 1049506 56692 45 192369 179510 8397 4462 263911 246783 17128 721848 675000 46848 358227 335237 22990 EQUIPMENT REPAIRS & MAI 287668 212993 74675 COURSEWARE COSTS 180320 180320 BAD DEBT 105882 105882 DUES & SUBSCRIPTIONS 12385 12200 185 24609020 21416005 2906814 286201 3168564 2997869 4258473 4087382 1812288 772258 1768074 456847 375882 30388499 9848611 21482958 20539888 908301 769926 22082 13500 32109513 31324779 2238904 1506884 1390576 1913650 8043217 7709883 17522 4853 1999750 0 340302 12445 14030271 11147715 X 14854434 17179336 3224808 2997728 18079242 20177064 32109513 31324779 X 2138697 -355990 -12742 327857 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 928930 X 0 2428039 31553 -203557 87090 2168945 2243628 11295 236791 63675 2428039 2200891 12354 80806 50423 2243628 2101911 9070 160560 70650 2200891 2985954 13713 164242 158336 3005573 0.00000 0.73163 0.26837 1 0 5381955 5381955 20970984 7326882 13644102 69710 37549 32161 3826542 2456651 1369891 139308 27529 111779 20539888 INTEREST RATE SWAPS 12445 12445 X 20763474 -355990 -5675580 -6031570 26795044 14740 -62067 -47327 26747717 18652910 62067 62067 18590843 14740 6003437 6018177 24609020 PART V, LINE 4: ENDOWMENT FUNDS ARE PRIMARILY ESTABLISHED FOR SCHOLARSHIPS. PART X, LINE 2: THE COLLEGE QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND, ACCORDINGLY, THERE IS NO PROVISION FOR INCOME TAXES IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE COLLEGE EVALUATES THEIR UNCERTAIN TAX POSITIONS, IF ANY, ON A CONTINUAL BASIS THROUGH REVIEW OF THEIR POLICIES AND PROCEDURES, REVIEW OF THEIR REGULAR TAX FILINGS, AND DISCUSSIONS WITH OUTSIDE EXPERTS. THE COLLEGE BELIEVES THAT THEY HAVE APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DO NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS INCLUDED WITH EXPENSES -6,003,437. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 327,857. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES INCLUDED WITH REVENUE -10,185. COST OF GOODS SOLD INCLUDED WITH REVENUE -51,882. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES INCLUDED WITH REVENUE 10,185. COST OF GOODS SOLD INCLUDED WITH REVENUE 51,882. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS INCLUDED WITH EXPENSES 6,003,437. 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 POLICIES, MANUALS AND CATALOGS STATE NON-DISCRIMINATION POLICY. SCHEDULE E, PART I, LINE 6 PRESCOTT COLLEGE PARTICIPATES IN THE FEDERAL STUDENT FINANCIAL AID PROGRAM ADMINISTERED THROUGH THE U.S. DEPARTMENT OF EDUCATION. PRESCOTT STUDENTS RECEIVE FUNDING FROM CAMPUS-BASED PROGRAMS (PERKINS, SEOG, AND FEDERAL WORK STUDY) AS WELL AS FEDERAL PELL GRANTS AND FEDERAL STUDENT LOANS. 1 NORTH AMERICA 1 16 PROGRAM SERVICES FIELD STATION FOR ACADEMIC AND RESEARCH PROJECTS 399645 SUB-SAHARAN AFRICA 1 1 PROGRAM SERVICES FIELD STATION FOR ACADEMIC AND RESEARCH PROJECTS 61341 EAST ASIA AND THE PACIFIC 0 0 GRANTS TO INDIVIDUALS SCHOLARSHIPS 22896 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTS TO INDIVIDUALS SCHOLARSHIPS 8000 NORTH AMERICA 0 0 GRANTS TO INDIVIDUALS SCHOLARSHIPS 130036 2 17 0 0 2 17 621918 0 621918 SCHOLARSHIPS EAST ASIA AND THE PACIFIC 2 22896 0 N/A N/A SCHOLARSHIPS EUROPE (INCLUDING ICELAND & GREENLAND) 1 8000 0 N/A N/A SCHOLARSHIPS NORTH AMERICA 6 130036 0 N/A N/A 0 0 0 0 0 0 PART I, LINE 2: THE BUSINESS OFFICE AT PRESCOTT COLLEGE MAINTAINS ALL GRANT FINANCIALS, AND IF NECESSARY, DRAWS DOWN THE MONEY FROM THEY GRANTING AGENCY. THE ACCRUAL METHOD IS USED TO REPORT INVESTMENTS AND EXPENDITURES IN PART I. PART III ACCOUNTING METHOD: 1 SCHOLARSHIPS, GRANTS & DISCOUNTS 812 6136578 N/A N/A PART I, LINE 2: THE BUSINESS OFFICE AT PRESCOTT COLLEGE MAINTAINS ALL GRANT FINANCIALS, AND IF NECESSARY, DRAWS DOWN THE MONEY FROM THE GRANTING AGENCY. X X X 0 0 0 0 0 0 0 0 0 PAUL BURKHARDT PROVOST 166770 0 0 0 0 0 4433 0 2544 0 173747 0 0 0 BARBARA MORRIS PRESIDENT/CEO 153879 0 0 0 0 0 1427 0 1501 0 156807 0 0 0 CARLA SNOOK MARKETING STRATEGIST 120526 0 0 0 0 0 2615 0 51779 0 174920 0 0 0 A IDA OF COUNTY OF YAVAPAI 866093423 2013-09-20 10400000 REFUND PRIOR DEBT 0 0 0 A 2639556 10400000 10400000 2013 1 0 1 1 A 0 0 0 0 0 0 1 A 0 0 1 0 1 1 COMPASS BANK 10.000000000000 0 0 0 0 1 A 1 PART I (C) NO CUSIP WAS ASSIGNED TO THE BOND BECAUSE THEY WERE ISSUED VIA PRIVATE PLACEMENT. PART I (F) ISSUE DATE OF REFUNDED BONDS 6/29/2011. ROXANN GALLAGHER TRUSTEE 49759 LEGAL SERVICES 0 X 1 25095 APPRAISAL X 2 2885 MARKET VALUE 0 0 1 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS WAS USED IN PART I. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL HAVE THE AUTHORITY OF THE BOARD IN THE MANAGEMENT OF THE BUSINESS OF THE CORPORATION IN THE INTERVAL BETWEEN MEETINGS OF THE BOARD ONLY TO THE EXTENT OF TAKING NECESSARY ACTIONS IN CASES WHEN THE BOARD CANNOT ACT IN A TIMELY FASHION OR IN INSTANCES WHERE THE HEALTH, SAFETY, AND SECURITY OF THE CORPORATION OR INDIVIDUALS ASSOCIATED WITH IT ARE IMMEDIATELY THREATENED OR WHEN OTHERWISE SPECIFICALLY AUTHORIZED BY THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WILL BE MADE AVAILABLE TO THE BOARD OF TRUSTEES PRIOR TO BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C A TRUSTEE SHALL BE CONSIDERED TO HAVE A CONFLICT OF INTEREST IF (A) SUCH TRUSTEE HAS EXISTING OR POTENTIAL FINANCIAL OR OTHER INTERESTS THAT IMPAIR OR MIGHT REASONABLY APPEAR TO IMPAIR SUCH MEMBER'S INDEPENDENT, UNBIASED JUDGMENT IN THE DISCHARGE OF HIS/HER RESPONSIBILITIES TO THE COLLEGE, OR (B) SUCH TRUSTEE IS AWARE THAT A MEMBER OF HIS/HER FAMILY (WHICH FOR PURPOSES OF THIS PARAGRAPH SHALL BE A SPOUSE, PARENT, SIBLINGS, CHILDREN, AND ANY OTHER RELATIVE IF THE LATTER RESIDES IN THE SAME HOUSEHOLD AS THE TRUSTEE), OR ANY ORGANIZATION IN WHICH SUCH TRUSTEE ( OR MEMBER OF HIS FAMILY) IS AN OFFICER, DIRECTOR, EMPLOYEE, MEMBER, PARTNER, TRUSTEE, OR CONTROLLING STOCKHOLDER HAS SUCH EXISTING OR POTENTIAL FINANCIAL OR OTHER INTERESTS. ALL TRUSTEES SHALL DISCLOSE TO THE BOARD ANY POSSIBLE CONFLICT OF INTEREST AT THE EARLIEST PRACTICABLE TIME. NO TRUSTEE SHALL VOTE ON ANY MATTER, UNDER CONSIDERATION AT A BOARD OR COMMITTEE MEETING, IN WHICH SUCH TRUSTEE HAS A CONFLICT OF INTEREST. THE MINUTES OF SUCH MEETING SHALL REFLECT THAT A DISCLOSURE WAS MADE AND THAT THE TRUSTEE HAVING A CONFLICT OF INTEREST ABSTAINED FROM VOTING. ANY TRUSTEE WHO IS UNCERTAIN WHETHER S/HE HAS A CONFLICT OF INTEREST IN ANY MATTER MAY REQUEST THE BOARD OR COMMITTEE TO DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS, AND THE BOARD OR COMMITTEE SHALL RESOLVE THE QUESTION BY MAJORITY VOTE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR TOP MANAGEMENT AND DIRECTORS AS WELL AS OTHER POSITIONS IN THE COLLEGE IS DETERMINED BASED ON COMPARABILITY OF DATA FROM LIKE INSTITUTIONS, LIKE POSITIONS AND THE LOCAL ECONOMY. STATUS WITHIN PRESCOTT COLLEGE IS ALSO A FACTOR SO THAT ONE JOB IS NOT OUT OF ALIGNMENT COMPARED TO OTHER LIKE RESPONSIBILITY" JOBS IN OTHER DEPARTMENTS. THE PRESIDENT'S SALARY IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. SALARIES OF THE OTHER OFFICERS AND KEY EMPLOYEES IS REVIEWED BY SENIOR MANAGEMENT. THIS PROCESS WAS LAST PERFORMED MAY 1, 2020. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE AVAILABLE ON THE PRESCOTT COLLEGE WEBSITE. THE CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 327,857. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. PRESCOTT COLLEGE DEVELOPMENT COMPANY LLC 220 GROVE AVE PRESCOTT AZ 86301 NO ACTIVITY AZ 0 0 PRESCOTT COLLEGE PRESCOTT COLLEGE ACQUISITION COMPANY LLC 220 GROVE AVE PRESCOTT AZ 86301 NO ACTIVITY AZ 0 0 PRESCOTT COLLEGE