2023-05-05T17:00:35-07:00 2022-06-30 990 2021-07-01 362167855 DOMINICAN UNIVERSITY DOMI 7083662490 7900 Division Street River Forest IL 603051099 Mark Titzer VP of Finance 7083662490 2023-05-05 1 11 0 AAL2 2021 2023-04-26 12:10:37Z Mark C Titzer 7900 Division Street River Forest IL 60305 112591580 0 0928 X www.dom.edu X 1901 IL As a Sinsinawa Dominican sponsored institution, Dominican University prepares students to pursue truth, give compassionate service and participate in the creation of a more just and humane world. 28 25 1615 181 -2342 0 18149617 21089755 91444127 89373928 1665343 1017629 444068 669697 111703155 112151009 33982612 33930307 0 0 40753408 43580501 0 0 1850232 30528743 30353797 105264763 107864605 6438392 4286404 154609403 151920412 45816396 40324693 108793007 111595719 Dominican University provides undergraduate and graduate instruction to students, and administers all of its programs without discrimination of race, color, gender, religion, national or ethnic origin, disability, age, marital status, or sexual orientation. As a Sinsinawa Dominican sponsored institution, Dominican University prepares students to pursue truth, give compassionate service, and participate in the creation of a more just and humane world. 0 0 70054127 33930307 63133678 Instructional Support includes areas related to teaching, research and advising. The University provides an intellectually integrated, mission-centered educational environment with hundreds of avenues for its students at the undergraduate and graduate levels to explore career interests and experience diverse cultures and international environments. It offers more than 50+ undergraduate academic programs, 19 masters degrees and a PhD. Graduate degrees including a Physician Assistance program, research opportunities, demanding academics, personal attention and deep interactions in classes that average 10-12 students. It is deeply committed to enhancing student experiences domestically and abroad. It is committed to the highest quality education-and an intentional affordability that makes it accessible to all. 7187756 0 6477698 Academic Support is provided under the leadership of the Provost and the Associate Provost of the university, and supports the institutional areas of the university. Faculty are supported by the Center for Teaching Excellence whose mission is to support all faculty at all stages of their career as it relates to their role as teachers, student advisers, scholars, and citizens of the community and the university. Faculty committees exist to allow input and transparency into core decisions of the university. The Faculty Senate provides a central voice for all faculty. The Rebecca Crown Library provides library services to students, faculty, staff and the community. 15951096 0 14375332 Student Services is comprised of the Admissions (Enrollment and Marketing offices), Financial Aid Office, Dean of Students Office, Student Involvement, Student Success and Engagement, and Athletics. The Vice President for Enrollment Management and Marketing oversees the Admissions, Financial Aid, and Marketing offices. This team is responsible for recruiting new and transfer students. By complying with federal and state regulations, the Financial Aid Office is responsible for packaging financial aid for students based on limits set by federal and state governance. Most students receive some form of scholarships or grants. External audits are conducted by various agencies for finance and financial aid. The Dean of Students and Student Success and Engagement Offices, which include (Wellness, Advising, Career Services, and Student Activities) work closely with students to prepare for holistic experiences. Training, tutoring, and various areas of support are the many resources that are provided. Career services help to prepare students for employment during and after their academic tenure. The Athletic Director oversees the university's 12 athletic sports and applies gender equity among the sports. The Athletic Department provides intercollegiate competition opportunities for student athletes of the university regardless of race, gender, ethnicity, or orientation. 3747741 0 5387220 Auxiliary services include student housing, campus dining, and the Performing Arts Theater. The university offers four residence halls (the Priory Campus was sold this fiscal year). Housing includes a variety of options ranging from single and double rooms, to suites. Students who live in the residence halls are expected to purchase the campus meal plan; some specific exceptions are allowed. Some adjustments were made to provide adequate distance for COVID relief, particularly at our Priory Campus. The Performing Arts Theater offers a variety of musical and theater productions. The theater productions are integrated with the Undergraduate Theater Program which supports their theater curriculum. Many students participant in the performances, assist with stage crew set up and tear down, and ticket collections. 3747741 0 5387220 96940720 1 1 0 0 0 0 0 1 1 1 1 0 0 0 1 1 1 0 1 0 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 4324 0 1 1615 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 X 28 25 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X Doris Dumas - Associate VP Finance 7083662490 7900 Division St River Forest IL 60305 Donna M Carroll President (through 6/30/21) 65 0 X X 390792 0 52002 Roberto Curci Dean of Brennan School of Business 50 0 X 245097 0 39727 Genaro Balcazar VP Enrollment Mgmt and Marketing 50 0 X 213269 0 46979 Jeffrey Carlson Provost & VP of Academic Affairs 50 0 X 221118 0 33620 Mark Titzer VP for Finance & Administration 50 0 X 202379 0 16544 Sara Acosta VP for the University Advancement 50 0 X 170945 0 43498 Kavita Dhanwada Dean of Borra College of Health Sciences 50 0 X 158445 0 28762 Chad Rohman Dean Rosary College of Arts & Sciences 50 0 X 139771 0 40892 Jacob Bucher Dean of College of Applied Social Sciences 50 0 X 139852 0 40378 Glena Temple President (eff 8/2/2021) 65 0 X X 155174 0 14528 Khalid Razaki Professor 40 0 X 151066 0 12217 Kathleen Odell Associate Dean of Brennan School of Business 40 0 X 122451 0 39368 Doris Dumas Associate Vice President, Finance & Controller 50 0 X 132998 0 26784 Roberta McMahon Executive Director of Human Resources 50 0 X 127752 0 31360 Daniel Condon Professor, Economics; Business Law & Ethics 40 0 X 126506 0 29735 Barrington Price VP for Student Success and Engagement 50 0 X 143487 0 11705 Todd Kleine Interim Chief Information Officer 50 0 X 130425 0 21729 Claire Noonan VP for Mission and Ministry 50 0 X 108650 0 32662 Sara Quinn Faculty Trustee 30 0 X 74056 0 28147 Michael Kiyosaki Trustee & Executive in Residence, BSB 25 0 X 30000 0 0 Matthew Toles Trustee 3 0 X 6400 0 0 Tyler Stibal Student Trustee 5 0 X 1847 0 0 Anne M Kohler Trustee-Chair 10 0 X X 0 0 0 Thomas D Abrahamson Trustee-Immediate Past Chair 5 0 X X 0 0 0 Mary Jo Herseth Trustee-Chair Elect 5 0 X X 0 0 0 Patricia O'Neill Baker Trustee 5 0 X 0 0 0 Mark Carroll Trustee 3 0 X 0 0 0 Mary Ann Cronin Trustee 3 0 X 0 0 0 Paul C Darley Trustee 3 0 X 0 0 0 Thomas Dee Trustee 3 0 X 0 0 0 Yonhee Gordon Trustee 3 0 X 0 0 0 Steven Holli Trustee 3 0 X 0 0 0 Judith A Jewison OP Trustee 3 0 X 0 0 0 Bernadine Karge OP Trustee 3 0 X 0 0 0 Kevin M Killips Trustee 3 0 X 0 0 0 Joseph Moskal Trustee 3 0 X 0 0 0 Patricia A Mulcahey OP Trustee 3 0 X 0 0 0 Martin J Noll Trustee 3 0 X 0 0 0 Antonio Ortiz Trustee 3 0 X 0 0 0 Raymond C Parmer Trustee 3 0 X 0 0 0 William Rogalla Trustee 3 0 X 0 0 0 Steven R Thomma Trustee 3 0 X 0 0 0 Hugh Toner Trustee 3 0 X 0 0 0 Bronwyn McDaniel Trustee 3 0 X 0 0 0 Kathy Scherer Trustee 3 0 X 0 0 0 3192480 0 590637 47 0 1 0 Quest Food Services 2500 S Highland Ave Suite 250 Lombard IL 60148 Food services 1657741 Able Building Maintenance PO Box 39000 San Francisco CA 941390001 Janitorial Services 1060640 Hill Mechanical Corporation 11045 Gage Avenue Franklin Park IL 60131 Mechanical (Electrical/Ventilation, HVAC Contractors) 1060175 Constellation New Energy 10 S Dearborn Street 51st Floor Chicago IL 60603 Gas/Electric 960999 Collegis LLC 1415 W 22nd St Suite 300 Oak Brook IL 60523 Education and Marketing Services 844567 33 0 0 466616 0 11984738 8638401 162153 21089755 Tuition Revenues 611310 82690514 82690514 0 0 Student and Technology Fees 611310 995582 995582 0 0 Distant ISPP and Course Fees 611310 300612 300612 0 0 Auxiliary Revenues (Housing and Food) 611710 5387220 5387220 0 0 0 0 0 0 89373928 1023726 0 0 1023726 0 0 0 0 0 0 0 0 0 20164 0 22506 0 -2342 -2342 0 -2342 0 204587 0 210684 0 -6097 0 -6097 0 0 -6097 32549 466616 207381 -174832 0 -174832 0 0 0 0 0 0 0 0 0 0 0 0 Indirect Cost Recovery revenue 611710 183420 0 0 183420 Revenue sharing for core programming 611710 447892 0 0 447892 Other 611710 215559 0 0 215559 0 0 0 0 846871 112151009 89373928 -2342 1689668 0 0 33930307 33930307 0 0 0 0 2252174 1408181 668993 175000 0 0 0 0 32520929 29788129 1891969 840831 1845971 1636950 132858 76163 4500677 3934483 432937 133257 2460750 2208652 181872 70226 1190079 930326 259753 0 98744 98744 0 81649 0 81649 0 0 0 0 0 0 0 81551 81551 1542315 600000 631135 311180 1869906 1770938 30130 68838 4901204 3238098 1596608 66498 1511584 1511584 0 0 0 0 0 0 1033636 776976 256660 0 363998 316549 27020 20429 0 0 0 0 310276 280027 30249 0 1472515 1106878 365637 0 0 0 0 0 3491622 2624625 866997 0 669840 99802 570038 0 Federal HEERF Grants II and III 4573013 4162431 410582 0 Restricted Grants & Gifts 2821563 2821563 0 0 Equipment and Maintenance 2137142 1678871 458271 0 Contracted Food 2115350 2115350 0 0 87810 0 0 87810 107864605 96940720 9073653 1850232 2533 1082 11054335 16596552 939551 1651355 4339683 4080981 0 0 0 0 0 0 0 0 758664 885100 137055132 67541636 74564523 69513496 56452262 53350941 0 0 0 0 0 0 6497852 5840905 154609403 151920412 7289333 6560226 0 0 113824 129792 27730596 26909214 874251 868718 0 0 0 0 0 0 9808392 5856743 45816396 40324693 X 57459824 61558697 51333183 50037022 108793007 111595719 154609403 151920412 X 4286404 -6295285 0 -81551 0 4893144 X 0 1 X 1 1 1 X 11630506 15204042 13785939 18149617 21089755 79859859 0 0 0 0 0 0 0 0 0 0 0 0 11630506 15204042 13785939 18149617 21089755 79859859 79859859 1441593 1809928 1801968 1514417 1043890 7611796 136272 39891 40905 0 0 217068 0 0 0 0 0 0 87688723 444067392 0.91072 0.80422 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 X X X Teaching 0 0 1 X 51714503 1875534 -4714038 1425000 0 81551 47369448 40834155 2932215 9298085 1275000 0 74952 51714503 40444991 1937249 -114096 1365000 0 68989 40834155 35577238 3856756 2298346 1200000 0 87349 40444991 33028471 1839914 1993076 1200000 0 84223 35577238 0.19 0.64 0.17 0 0 0 78152 78152 0 113754312 49570532 64183780 0 6450559 5096817 1353742 0 14669155 12874287 1794868 0 2102954 0 2102954 69513496 0 Financial Instruments-Interest Rate Swaps 3690146 Deferred Compensation 2166597 5856743 X 77119223 -6376836 0 0 5100525 -1276311 78395534 0 33755475 33755475 112151009 74109130 0 0 0 256383 256383 73852747 81551 33930307 34011858 107864605 Schedule D, Part III, Line 1 Collections, which are acquired mostly through donations and has been since the University's inception. These are not reflected in the Statements of Activities or in the Statements of Financial Position. Rather, these are displayed throughout the University. Schedule D, Part III, Line 4 The University's permanent collection of works of art are mainly for teaching, research, and exhibition. Most pieces of art are tagged and logged in the inventories and archives. These collections of works of art are displayed in many places throughout the campus. Schedule D, Part IV, Line 2b Annuity obligation of $482,466 and Deposits on hold $386,252. Schedule D, Part V, Line 4 The University's endowment provides revenue to support its mission. It consist of approximately 210 individual funds established for a variety of purposes, mostly for student scholarships. It includes donor restricted funds, funds designated by the Board of Trustees, and pledges receivable. Net assets associated with endowed funds, including funds designated by the Board of Trustees to function as endowment, are classified and reported based on the donor's intent. The University complies with the Uniformed Prudent Management of Institutional Funds (UPMIFA) to allocate the accumulations of earnings of the funds, and follows the Board of Trustees approved Endowment Spending Policy. Schedule D, Part VI, Line 1b The Priory sale in FY22 consisted of a $2,992,500 removal of land from the books. This adjustment for is included in the accumulated depreciation amount for Buildings. The amount in Other represents Construction in Progress at June 30, 2022. Schedule D, Part VI, Line 1e The amount in Other represents Construction in Progress at June 30, 2022. Schedule D, Part X, Line 2 The University has received a favorable determination letter from the Internal Revenue Service stating that the University is exempt from federal income taxes under the provisions of Section 501(c)3 of the Internal Revenue Code of 1986, as amended, except for income taxes pertaining to unrelated business income. Management has determined that there are no material uncertain positions that require recognition in the financial statements and does not expect that to change in the next 12 months. The University has properly not accrued any provision for income taxes for the University. There are no interest or penalties recognized in the Statements of Activities or the Statements of Financial Position. Schedule D, Part XI, Line 2d Amounts recorded on Sch D Part XI, Line 2d include the following: Change in FV of beneficial interests and trusts of $(-613,469); Change in Interest Rate Swaps: $3,699,542; Fundraising Expenses (add-back adj): $ 207,381; and Gain from sale of property: $1,807,071. During fiscal year ending June 30, 2022, the university sold its Priory Campus. The sale resulted in a book gain of $1,807,071. This was a one-time event. Schedule D, Part XI, Line 4b Amounts recorded on Sch D Part XI, Line 4b include: student financial aid and restricted scholarships of $33,930,307 (that were netted to total tuition revenues in the Statements of Activities for FY2021-22), and fundraising expense $174,832. Schedule D, Part XII, Line 2d Amount represents Fundraising net expenses of $174,832 and Investment Manager fees of $81,551. Fundraising net expenses in FY22 of $174,832 are being removed from Expenses and netted to Revenues. Investment fees charged by investment managers of $81,551 were netted to investments only, and were not recorded as expenses in the Statement of Activities in FY 2022. These are being shown on Form 990 for transparency. Schedule D, Part XII, Line 4a Investment manager fees of $81,551 are adding back to show on Form 990 for transparency only. Schedule D, Part XII, Line 4b This amount represents student financial aid and restricted scholarships of $33,930,307, that were netted to total tuition revenues in the Statements of Activities for FY2021-2022. 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 University's nondiscrimination policy is published on the external and internal school's websites, and in general paper circulation that serves segments of the community. Also it is noted in certain emails and school brochures related to student admission and programs. Schedule E, Part I, Line 6 The University receives funds from the U.S. Department of Education for several student financial assistance programs, including the Federal Pell Grant Program, Federal Supplemental Educational Opportunity Grant Program, Federal Work-Study Program, Federal Direct Lending, and the Teacher Education Assistance for College and Higher Education Grant Program. The University also receives various state funding from Illinois, which includes the Illinois Monetary Assistance Program (MAP). 1 Central America and the Caribbean 0 0 Investments Invstmts held in The Cayman Islands 4793724 North America (including Canada and Mexico, but not the United States) 0 0 Grantmaking Scholarships to students 1517154 Europe (including Iceland and Greenland) 0 0 Grantmaking Scholarships to students 92250 Central America and the Caribbean 0 0 Grantmaking Scholarships to students 87440 East Asia and the Pacific 0 0 Grantmaking Scholarships to students 44500 Sub-Saharan Africa 0 0 Grantmaking Scholarships to students 33835 South America 0 0 Grantmaking Scholarships to students 14600 Middle East and North Africa 0 0 Grantmaking Scholarships to students 12344 Russia and the newly independent States 0 0 Grantmaking Scholarships to students 2500 0 0 6598347 Scholarships to students North America (including Canada and Mexico, but not the United States) 128 1517154 Credited to student tuition accounts 0 Scholarships to students Europe (including Iceland and Greenland) 8 92250 Credited to student tuition accounts 0 Scholarships to students Central America and the Caribbean 10 87440 Credited to student tuition accounts 0 Scholarships to students East Asia and the Pacific 4 44500 Credited to student tuition accounts 0 Scholarships to students Sub-Saharan Africa 3 33835 Credited to student tuition accounts 0 Scholarships to students South America 1 14600 Credited to student tuition accounts 0 Scholarships to students Middle East and North Africa 2 12344 Credited to student tuition accounts 0 Scholarships to students Russia and the newly independent States 1 2500 Credited to student tuition accounts 0 0 0 0 0 0 Schedule F, Part I, Line 1 Investments held in a foreign bank had a market value of $4,793,724 as of June 30, 2022. Schedule F, Part I, Line 2 The University does not make grants outside the U.S., but rather makes institutional grants to non-U.S. students. Using an financial aid award policy for all students, the Financial Aid Office disburses institutional aid to all students who qualify, including non-U.S. students. The aid is applied directly to the student's tuition balance, and is limited to the students' cost. The monitoring of this aid is done by following policies and procedures of awarding only the amount of aid that is below the students' costs, and segregating to other departments the tasks and functions of applying any refunds for overages (which are extremely rare). Schedule F, Part III The University's awards all financial aid to students and complies with the requirements of the U.S. Department of Education. Benefit Concert 499165 466616 32549 5500 1603 9041 41569 100000 49668 0 0 499165 466616 32549 5500 1603 9041 41569 100000 49668 207381 -174832 1 Institutional scholarships credited to students' tuition accounts. 1701 0 33930307 Cost The University awards scholarships to eligible students and foreign national students based on its policies. These amounts are applied as non-cash to students' tuition accounts and results in a reduction of tuition costs, and are a direct cost from the university. Federal HEERF Grant dollars provided to students 1589 4162431 0 cost The majority of these fund were cash grants to students. Some students opted in writing to have these funds pay their tuition balances, at which time the funds were credited to their tuition accounts and not directly paid to the student. Schedule I, Part I, Line 2 The University receives funds from the U.S. Department of Education for several student financial assistance programs and from the state of Illinois for state grants. The university uses the FAFSA (federal form) to apply federal aid and follows institutional policies for disbursing this aid to students. All aid is disbursed to students' tuition accounts, reducing their tuition balances. The Business Office monitors and posts this information to the general ledger. X X 1 1 X X X X 1 0 0 0 0 0 0 0 0 Donna M Carroll President (through 6/30/21) 145663 0 0 0 7500 0 85492 0 11640 0 250295 0 192500 0 Roberto Curci Dean of Brennan School of Business 225174 0 0 0 0 0 39833 0 19810 0 284817 0 Genaro Balcazar VP Enrollment Mgmt and Marketing 194269 0 0 0 0 0 36367 0 29612 0 260248 0 Jeffrey Carlson Provost & VP of Academic Affairs 200209 0 0 0 0 0 38435 0 16094 0 254738 0 Mark Titzer VP for Finance & Administration 176379 0 0 0 0 0 41970 0 573 0 218922 0 Sara Acosta VP for the University Advancement 153518 0 0 0 0 0 31369 0 29557 0 214444 0 Kavita Dhanwada Dean of Borra College of Health Sciences 142497 0 0 0 0 0 28705 0 16004 0 187206 0 Chad Rohman Dean Rosary College of Arts & Sciences 125131 0 0 0 0 0 26063 0 29469 0 180663 0 Jacob Bucher Dean of College of Applied Social Sciences 125489 0 0 0 0 0 25854 0 28887 0 180230 0 Glena Temple President (eff 8/2/2021) 142174 0 0 0 0 0 23640 0 3888 0 169702 0 Khalid Razaki Professor 125554 0 0 0 0 0 37398 0 332 0 163284 0 Kathleen Odell Associate Dean of Brennan School of Business 110004 0 0 0 0 0 22404 0 29411 0 161819 0 Doris Dumas Associate Vice President, Finance & Controller 119435 0 0 0 0 0 24412 0 15934 0 159781 0 Roberta McMahon Executive Director of Human Resources 110276 0 0 0 0 0 27446 0 21390 0 159112 0 Daniel Condon Professor, Economics; Business Law & Ethics 113724 0 0 0 0 0 23008 0 19509 0 156241 0 Barrington Price VP for Student Success and Engagement 132196 0 0 0 0 0 22583 0 413 0 155192 0 Todd Kleine Interim Chief Information Officer 115905 0 0 0 0 0 25080 0 11169 0 152154 0 Schedule J, Part I, Line 1a The following arrangements were authorized by the University's Board of Trustees and included in each person's contract. Housing for the President is being provided by the university. The valuation of rental payments for the personal use of a university owned home is imputed annually, and is included in the President's taxable income each month. An automobile allowance is being provided to the President on a monthly basis, and is included in taxable income. Included in the former President's taxable income were reimbursements for the business use of her personal residence. Schedule J, Part I, Line 3 The Board of Trustees appoints the President of the University. An external and independent search firm is engaged to bring qualified candidates for consideration. An internal search committee is formed, which is made up mostly of Trustees, certain faculty, staff and students. Qualified candidates are vetted by the internal search committee and suggested to a small group of college personnel for further review. Salaries and benefits are benchmarked among peer institutions. Once a candidate is selected, a written contract is presented to the candidate, and is signed by the candidate. Schedule J, Part I, Line 4 The Board of Trustees established a Deferred Compensation Plan and a Non Qualified 457(F) Plan for the former President of the University. The amount accrued in calendar year 2021 for the Deferred Plan was $0; the amount accrued in the Non Qualified Plan 457(F) was $19,447. These amounts are included as Deferred Income on both Parts VII and on Schedule J. The former President can exercise these plans upon separation from the University. A Village of River Forest Cook County IL 366006070 2014-10-28 3074527 Bond Refinance 0 1 0 B Village of River Forest Cook County IL 366006070 2014-10-10 10000000 Bond Refinance 0 1 0 C Illinois Finance Authority 861091967 2014-08-20 19800000 Bond Refinance 0 0 0 A 1391270 0 3074527 0 0 0 0 0 0 0 3074527 0 1 0 1 1 B 4525151 0 10000000 0 0 0 0 0 0 0 10000000 0 1 0 1 1 C 0 0 19800000 0 0 0 0 0 0 0 19800000 0 1 0 1 1 A 0 0 1 1 0 0 0 0 B 1 1 1 1 0 0.02 0.02 0 0 0 C 0 0 1 1 0 0 0 0 A 0 0 0 1 1 0 0 0 0 B 0 0 0 1 1 0 0 0 0 C 0 0 0 1 1 0 0 0 0 A 1 B 1 C 1 Schedule K, Part I, Column a-10/28/2014 3,074,527 Village of River Forest Cook County IL During 2009, the Village of River Forest, Illinois, in the county of Cook, issued $16,200,000 of 20 year adjustable-rate Industrial Project Revenue Bonds. Pursuant to a loan agreement dated December 1, 2009, the Village of River Forest loaned the proceeds of the bond issue to the University. The proceeds were used to refund the balance of a year 2000 Demand Revenue Bond and a year 2006 Industrial Revenue Bond. In October 2014, the University amended the outstanding balance of the year 2009 bonds. Funding was provided through a $13,074,527 Village of River Forest, Cook County Illinois Industrial Revenue Project Revenue Bond Series 2009A and Series 2009B. The amended series were purchased by Fifth Third Bank (formerly MB Financial Bank) on October 10, 2014, and are set to mature on August 5, 2024. Upon completion of the purchase of the bond to Fifth Third Bank, the debt was unsecured, and was no longer publicly traded. Schedule K, Part I, Column b-10/10/2014 10,000,000 Village of River Forest Cook County IL During 2009, the Village of River Forest, Illinois, in the county of Cook, issued $16,200,000 of 20 year adjustable-rate industrial Project Revenue Bonds. Pursuant to a loan agreement dated December 1, 2009, the Village of River Forest loaned the proceeds of the bond issue to the University. The proceeds were used to refund the balance of a year 2000 Demand Revenue Bond and a year 2006 Industrial Revenue Bond. In October 2014, the University amended the outstanding balance of the year 2009 bonds. Funding was provided through a $13,074,527 Village of River Forest, Cook County Illinois Industrial Project Revenue Bond Series 2009A and Series 2009B. The amended series were purchased by Fifth Third Bank (formerly MB Financial Bank) on October 10, 2014, and are set to mature on August 5, 2024. Upon completion of the purchase of the bond to Fifth Third Bank, the debt was unsecured, and was no longer publicly traded. Schedule K, Part I, Column c-08/20/2014 19,800,000 Illinois Finance Authority In March 2006, the University issued $30,000,000 of 30 year adjustable-rate demand revenue bonds through the Illinois Finance Authority. The proceeds were used to acquire, construct, and equip certain projects of the University's facilities. In August 2014, the University refinanced the outstanding balance of the above-mentioned bond. Funding was provided through a $19,800,000 Illinois Finance Authority Revenue Refunding Bond, Series 2014. The Refunding Bond was purchased by Fifth Third Bank (formerly MB Financial Bank) on August 5, 2014, and has a 10-year maturity date of year 2024. Upon completion of the purchase, the debt was unsecured, and was no longer publicly traded. The interest rate of the Series 2014 bonds are set weekly on 70% LIBOR plus designated basis points determined at the beginning of each interest period. Schedule K, Part IV, Line 2c-10/28/2014 3,074,527 Village of River Forest Cook County IL No rebate amount is due. Schedule K, Part IV, Line 2c-10/10/2014 10,000,000 Village of River Forest Cook County IL No rebate amount is due. Schedule K, Part IV, Line 2c-08/20/2014 19,800,000 Illinois Finance Authority No rebate amount is due. X 13 153153 FMW X Baseball and golf 4 7500 FMV X Concerts/retreats 1 1500 FMV 0 0 1 0 Form 990, Part IV, Line 14a The University no longer has an office outside the United States. It closed its bank account in the United Kingdom. Form 990, Part IV, Line 31 The university sold its Priory Campus, but did not cease any services or operations. The services continue at our main campus, except for the childcare facility services which remain at the sold campus. The university continue to operate the childcare facility there, and leases the space from the new owners. Form 990, Part VI, Section A, Line 1a There are no material differences between voting and non-voting Trustee members who are independent. The non-independent members include the President, Faculty Trustee, and the Executive in Residence Trustee. Form 990, Part VI, Section A, Line 2 Form 990, Part VI, Section A, Line 2 - One Trustee of the Board of Trustees has a family relationship with an officer of the university. The officer can authorize transactions within the home department's account, but does not have access to create or adjust financial records. Form 990, Part VI, Section A, Line 6 The Members consist of three to nine 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. The responsibilities of the members include the following: approve the mission of the University; amend, restate or modify the Articles of Incorporation and the Bylaws of the University; approve the acquisition, purchase, sale, mortgage, lease, transfer of real property owned by the University; ratify the appointment; remove or replace one or more Trustees; and to approve any plan of dissolution, merger, consolidation or liquidation of the University. Each member shall be entitled to one vote on each matter submitted to a vote of the Members. Form 990, Part VI, Section A, Line 7a The members may appoint, in their discretion, different members: (A) When the members, in their sole discretion, decide to increase the number of members (within limitations set forth in Article II, Section 1). (B) When vacancies occur by reason of death, resignation, failure of qualification, or otherwise. At all times the members shall be comprised of a majority of persons who are elected officials of the Sinsinawa Dominican Congregation. At all times up to three trustees may be elected by the members of the corporation and such trustees shall be members of the corporation or a Sinsinawa Dominican or other individual recommended by the members for such terms as may be designated by the members of the corporation (the member designated trustees). Form 990, Part VI, Section A, Line 7b The governance decisions are reserved to the Board of Trustees and Management of the University. The responsibilities of the Members include the following: approve the mission of the University; amend, restate or modify the Articles of Incorporation and the Bylaws of the University; approve the acquisition, purchase, sale, mortgage, lease, transfer of real property owned by the University; ratify the appointment; remove or replace one or more Trustees; and to approve any plan of dissolution, merger, consolidation or liquidation of the University. Form 990, Part VI, Section B, Line 11b The tax returns are prepared by the Management of the University and reviewed by an independent and external audit teams. These returns are provided, in advance by private email, to the Finance and Audit Committee of the Board of Trustees for review and discussion. The Finance Committee reviews and accepts the tax returns to be filed. By private email or posting to the secure Board of Trustees portal, a copy of the tax return is made available to all Trustees prior to being filed. Once all reviews are done and after the Vice President for Finance and Administration's final review, the tax returns are electronically filed with the IRS. An extension to file is generally requested and is approved. The filing deadline is typically May 15. Form 990, Part VI, Section B, Line 12c The University has a written Conflict of Interest Policy that has been approved by the Board of Trustees. It covers each Board of Trustee Member, Officers, and Key employees (covered members) of the University. The Policy requires, annually, that each covered member reviews the policy and discloses any possible personal, family, or business relationship that could give rise to a conflict involving the University. The scope of the conflict includes any material facts of a proposed transaction, and the covered person's interest or relationship in respect to the transaction. Management of the University follows up to ensure timely responses are received, and reviews the responses to determine whether a conflict exist. If a conflict exist, the covered member (including a Trustee of the Board) must excuse themselves from being included when the Committee takes action on a proposed transaction, but can be included in a quorum count. An Officer or Key employee of the University must treat transactions at arms-length and remove themselves from any judgments or decisions in transactions. Form 990, Part VI, Section B, Line 15 Compensation for the President of the University is determined by the Board of Trustees. Annually, they determine the base compensation based on the comparability data provided by the CUPA Study. Any bonuses and other indirect compensation is based on meeting stated goals, which are approved by the Executive Committee of the Board of Trustees and included as part of the President's contract. For all other top management positions such as officers, key employees, and academic deans, the President determines the initial compensation based on the CUPA data gathered by the Human Resources Department in relation to market data for similar positions. Annually the Vice President for Finance and Administration and the Executive Director of Human Resources review all compensation including the senior or top management for equity and external benchmarks. Any compensation recommendations are approved by the President and the Vice President for Finance and Administration. The compensation review process for the President, Officers, and Key employees is completed on an annual basis. Form 990, Part VI, Section C, Line 19 Dominican does not make its governing documents, conflict of interest policy, and financial statements available to the public but they are available upon requests. Form 990, Part XI, Line 9 The amount of $-4,893,144 represents the non-operating (Other Income/Expense) items reported on the Statements of Activities for FY22. These amounts were as follows: Change in fair value of interests and trusts of $-613,469; Interest Rate swap value changes of $3,699,542; and a gain on the sale of property (extraordinary item) of $1,807,071. SINSINAWA DOMINICAN CONGREGATION 585 Country Road Sinsinawa WI 53824 390816854 Ministry WI 501 (C) (3) Line 1 N/A 0 Constance Barbantini Estate 13001 S Briar Ln Palos Heights IL 60463 846408903 Trust Beneficiary IL N/A IRREVOCABLE CHARITABLE TRUST BMO Private Bank 111 W Monroe St Chicago IL 60603 Interest in an Irrevocable Trust IL BMO Harris Bank-Trustee T 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1