2022-05-12T10:17:28-05:00 2021-06-30 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2020-07-01 381945965 DAVENPORT UNIVERSITY DAVE 6164513511 6191 KRAFT AVE SE GRAND RAPIDS MI 49512 DAVE VENEKLASE INTERIM EVP FOR FINANCE AND CFO 6164513511 2022-05-11 1 DAVE VENEKLASE 999009999 DORI J EGGETT P00645252 2695674500 2022-05-10 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z DAVE VENEKLASE 6191 KRAFT AVE SE GRAND RAPIDS MI 49512 137423993 0 X WWW.DAVENPORT.EDU X 1970 MI POST-SECONDARY EDUCATIONAL INSTITUTION PREPARING STUDENTS FOR CAREERS IN BUSINESS, HEALTH, AND TECHNOLOGY. QUALITY, CAREER-ORIENTED ACADEMIC PROGRAMS ARE OFFERED THROUGHOUT THE MAIN CAMPUS IN GRAND RAPIDS AND OTHER CAMPUSES THROUGHOUT MICHIGAN. 12 11 1526 11 22000 20250 5210729 7285975 111752751 109673373 824341 1365505 6509470 5779473 124297291 124104326 34763622 36285593 0 0 50504589 51407035 0 0 994738 40708849 37435696 125977060 125128324 -1679769 -1023998 160096833 158159114 68896592 68466357 91200241 89692757 DAVENPORT UNIVERSITY PREPARES INDIVIDUALS AND ORGANIZATIONS TO EXCEL IN THE KNOWLEDGE-DRIVEN ENVIRONMENT OF THE 21ST CENTURY. 0 0 102744727 36285593 113990856 PROVIDE EDUCATION TO APPROXIMATELY 6,000 STUDENTS AT LOCATIONS THROUGHOUT MICHIGAN, INCLUDING OVER 3,000 COURSES AT THE UNDERGRADUATE AND GRADUATE LEVELS OF POST-SECONDARY EDUCATION IN BUSINESS, HEALTH, AND TECHNOLOGY. 945894 1334705 EDUCATING BUSINESS PROFESSIONALS THROUGH NON-CREDIT COURSES IN VARIOUS AREAS. 103690621 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 1 0 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 1 0 0 1 203 0 1 1526 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 12 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X DAVE VENEKLASE INTERIM EXECUTIVE VP FOR FINANCE AND CFO 6164513511 6191 KRAFT AVE SE GRAND RAPIDS MI 49512 RICHARD PAPPAS PRESIDENT 40.00 1.00 X X 561127 0 309028 MICHAEL VOLK TREASURER/SECRETARY/EVP FOR FINANCE AND CFO 40.00 1.00 X 330530 0 101791 DAVID VENEKLASE EVP FOR ORGANIZATIONAL DEVELOPMENT 40.00 0.00 X 279769 0 83867 SCOTT EPSTEIN EVP FOR QUALITY AND EFFECTIVENESS 40.00 0.00 X 256299 0 87749 GILDA GELY EVP FOR ACADEMICS AND PROVOST 40.00 0.00 X 281399 0 59582 WALTER O'NEILL EVP FOR ENROLLMENT AND STUDENT SERVICES 40.00 0.00 X 241663 0 88633 RACHEL RENDER EVP FOR ADVANCEMENT 40.00 0.00 X 257090 0 69247 DEBRA COOPER EVP FOR MARKETING AND COMMUNICATIONS 40.00 0.00 X 241849 0 62794 DAVID LAWRENCE VP FOR ADMISSIONS AND STRATEGIC PARTNERSHIPS 40.00 0.00 X 211188 0 38724 KENNETH YERRICK CHAIRMAN 1.00 0.00 X X 0 0 0 PAULA CUNNINGHAM VICE-CHAIRMAN 1.00 0.00 X X 0 0 0 RAMI FAWAZ TRUSTEE 1.00 0.00 X 0 0 0 TRACY GRAHAM TRUSTEE 1.00 0.00 X 0 0 0 PETER HAHN TRUSTEE 1.00 0.00 X 0 0 0 DOYLE HAYES TRUSTEE 1.00 0.00 X 0 0 0 ROBERT HETZLER TRUSTEE 1.00 0.00 X 0 0 0 WILBUR LETTINGA TRUSTEE 1.00 1.00 X 0 0 0 FRANK MERLOTTI TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 MARY TUUK-KURAS TRUSTEE 1.00 0.00 X 0 0 0 MICHELLE VANDYKE TRUSTEE 1.00 0.00 X 0 0 0 BRIAN WALKER TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 TINA WHEELER TRUSTEE 1.00 0.00 X 0 0 0 2660914 0 901415 38 0 1 0 RUFFALO NOEL LEVITZ LLC 1025 KIRKWOOD PARKWAY SW CEDAR RAPIDS IA 52404 STUDENT ENROLLMENT SERVICES 1134040 KRAFT 60TH LLC 5625 PRAIRIE CREEK DRIVE SUITE 100 CALEDONIA MI 49316 BUILDING RENT 1035349 DU APARTMENTS LLC 5625 PRAIRIE CREEK DRIVE SUITE 100 CALEDONIA MI 49316 BUILDING RENT 802913 ASCEND LEARNING HOLDINGS LLC 11161 OVERBROOK RD LEAWOOD KS 66211 HEALTH PROFESSION CERTIFICATION STUDY MA 558270 ELLUCIAN COMPANY LP 4375 FAIR LAKES CT FAIRFAX VA 22033 INFORMATION TECHNOLOGY 420027 15 1079809 6000954 205212 7285975 TUITION/STUDENT FEES 611600 108338668 108338668 NON-CREDIT COURSE FEES 611710 1334705 1334705 109673373 407869 407869 1150 22000 0 0 1150 22000 23150 22000 1150 13487463 12506383 23444 981080 -23444 957636 957636 6442028 789840 5652188 5652188 DUES AND EVENT INCOME 900099 104135 104135 104135 124104326 115325561 22000 1470790 34931270 34931270 1354323 1354323 2010197 2010197 38099170 28988329 8505330 605511 3152046 2259945 837300 54801 5425493 3836537 1507563 81393 2720129 2120741 555677 43711 461854 140009 216370 105475 69901 69901 176250 176250 86797 86797 3393426 3025380 352222 15824 4253748 4128689 95805 29254 960494 829924 106832 23738 3260934 525138 2711008 24788 6516460 6434193 80334 1933 836997 781607 55070 320 253919 104073 149646 200 521752 521752 9474777 9474777 1234167 1219740 14427 ATHLETIC EXPENSE 1434981 1434981 EQUIPMENT RENTAL AND MA 1209322 102243 1107079 TESTING AND ASSESSMENT 1078600 1078600 BAD DEBTS 920732 920732 1290585 398370 884425 7790 125128324 103690621 20442965 994738 2538042 3966785 3335369 4227101 2560792 1565535 5152498 4873442 291812 91387 2882672 3007820 214137512 103939671 117015519 110197841 21557588 24700159 596903 213906 4165638 5315138 160096833 158159114 7538984 10032293 6543016 6271489 42088523 38888736 4200000 3900000 944616 629744 7581453 8744095 68896592 68466357 X 89486859 87774150 1713382 1918607 91200241 89692757 160096833 158159114 X -1023998 -798648 315162 X X 0 1 X 1 1 1 X 8193061 2237090 2396813 5210729 7285975 25323668 8193061 2237090 2396813 5210729 7285975 25323668 7856546 17467122 564630 608567 674540 515372 407869 2770978 24000 24000 24000 22000 94000 93461 90984 82055 76949 104135 447584 28636230 597438514 0.61000 0.58480 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2016 AMOUNT: $ 93,461. 2017 AMOUNT: $ 90,984. 2018 AMOUNT: $ 82,055. 2019 AMOUNT: $ 76,949. 2020 AMOUNT: $ 104,135. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 11481807 11481807 157117387 64671276 92446111 44020575 38194079 5826496 1201012 1074316 126696 316731 316731 110197841 DEFERRED COMPENSATION AND SEVERANCE AGREEMENTS 6318297 CHARITABLE REMAINDER TRUST LIABILITY 124425 POSTRETIREMENT OBLIGATIONS 1441245 OTHER NONCURRENT 860128 8744095 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 RACIALLY NONDISCRIMINATORY POLICY STATEMENT IS INCLUDED ON VARIOUS PUBLICITY & POLICY STATEMENTS, INCLUDING OUR WEBSITE, COURSE CATALOG, AND ENROLLMENT CATALOG. SCHEDULE E, PART I, LINE 6 STUDENT FINANCIAL AID FOR TUITION CHARGES SCHEDULE E, PART I, LINE 6 CONTINUED ON MARCH 11, 2020, THE WORLD HEALTH ORGANIZATION DECLARED THE OUTBREAK OF A RESPIRATORY DISEASE CAUSED BY A NEW CORONAVIRUS A PANDEMIC, NOW KNOWN AS COVID-19. IN RESPONSE TO THE COVID-19 PANDEMIC, GOVERNMENTS HAVE TAKEN PREVENTIVE OR PROTECTIVE ACTIONS, SUCH AS TEMPORARY CLOSURES OF NONESSENTIAL BUSINESSES AND SHELTER-AT-HOME GUIDELINES FOR INDIVIDUALS. AS A RESULT, THE GLOBAL ECONOMY HAS BEEN NEGATIVELY AFFECTED, AND THE UNIVERSITY'S OPERATIONS WERE ALSO IMPACTED. THE UNIVERSITY SHIFTED TO A REMOTE ONLINE LEARNING ENVIRONMENT, SENT STUDENTS HOME DURING 2020, DELAYED TUITION RATE INCREASES, AND POSTPONED EVENTS, WHICH RESULTED IN LOST REVENUE FOR THE UNIVERSITY FOR THE YEARS ENDED JUNE 30, 2020 AND 2021. TO OFFSET THE FINANCIAL IMPACT TO STUDENTS AND THE LOSSES INCURRED BY THE UNIVERSITY DUE TO THE DISRUPTION CAUSED BY COVID-19, THE UNIVERSITY RECEIVED GRANTS AND OTHER RELIEF PRIMARILY FROM THE FEDERAL GOVERNMENT STIMULUS PACKAGES THAT WERE PASSED. FROM THESE STIMULUS PACKAGES, THE UNIVERSITY WAS ALLOCATED HIGHER EDUCATION EMERGENCY RELIEF FUND (HEERF) GRANTS. DURING THE YEAR ENDED JUNE 30, 2020, THE UNIVERSITY WAS ALLOCATED HEERF GRANTS TOTALING $2,925,270 OF WHICH 50 PERCENT WAS REQUIRED TO BE GIVEN DIRECTLY TO STUDENTS. THE UNIVERSITY RECOGNIZED HEERF GRANT REVENUE TOTALING $2,365,400. DURING THE YEAR ENDED JUNE 30, 2021, THE UNIVERSITY RECOGNIZED GRANT REVENUE FOR THE REMAINING $559,870 OF HEERF GRANTS THAT WERE ALLOCATED TO THE UNIVERSITY DURING 2020 AND WAS ALLOCATED ADDITIONAL HEERF GRANTS TOTALING $5,986,000 AND $10,503,000 IN TWO SUBSEQUENT AWARDS, OF WHICH $7,080,000 IS REQUIRED TO BE GIVEN DIRECTLY TO STUDENTS. OF THE HEERF GRANTS ALLOCATED TO THE UNIVERSITY DURING 2021, THE UNIVERSITY RECOGNIZED HEERF GRANT REVENUE TOTALING $3,676,000. 0 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 SCHOLARSHIPS N/A 22842 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 SCHOLARSHIPS N/A 368729 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 SCHOLARSHIPS N/A 582798 RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, 0 0 SCHOLARSHIPS N/A 42955 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 SCHOLARSHIPS N/A 23518 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 0 0 SCHOLARSHIPS N/A 2092 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 SCHOLARSHIPS N/A 306529 MIDDLE EAST AND NORTH AFRICA 0 0 SCHOLARSHIPS N/A 4860 0 0 0 0 0 0 1354323 0 1354323 SCHOLARSHIPS EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 6 22842 APPLIED AGAINST STUDENT'S TUITION ACCOUNT N/A N/A SCHOLARSHIPS EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIU 24 368729 APPLIED AGAINST STUDENT'S TUITION ACCOUNT N/A N/A SCHOLARSHIPS NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 78 582798 APPLIED AGAINST STUDENT'S TUITION ACCOUNT N/A N/A SCHOLARSHIPS RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, 2 42955 APPLIED AGAINST STUDENT'S TUITION ACCOUNT N/A N/A SCHOLARSHIPS SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 1 23518 APPLIED AGAINST STUDENT'S TUITION ACCOUNT N/A N/A SCHOLARSHIPS SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 1 2092 APPLIED AGAINST STUDENT'S TUITION ACCOUNT N/A N/A SCHOLARSHIPS SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 24 306529 APPLIED AGAINST STUDENT'S TUITION ACCOUNT N/A N/A SCHOLARSHIPS MIDDLE EAST AND NORTH AFRICA 1 4860 APPLIED AGAINST STUDENT'S TUITION ACCOUNT N/A N/A 0 0 0 0 0 0 PART III ACCOUNTING METHOD: 1 SCHOLARSHIPS AND TUITION DISCOUNTS TO DAVENPORT UNIVERSITY STUDENTS 5056 34931270 N/A N/A PART I, LINE 2: DAVENPORT UNIVERSITY PROVIDES FUNDING FOR STUDENT SCHOLARSHIPS AND TUITION DISCOUNTS BASED ON MERIT, FINANCIAL NEED, SPECIAL CRITERIA BASED ON RESTRICTED ENDOWMENT FUNDS, AND INFORMATION PROVIDED BY THE STUDENT ON THE SCHOLARSHIP APPLICATION. ALLOCATIONS ARE DETERMINED FOR EACH ACCOUNT BY THE ACCOUNTING AND ADVANCEMENT OFFICES AND DISTRIBUTED TO THE FINANCIAL AID OFFICER RESPONSIBLE FOR SCHOLARSHIPS. THE FINANCIAL AID OFFICE IS RESPONSIBLE FOR COMMUNICATING AWARD GUIDELINES, PROCEDURES, AND REQUIREMENTS, AS WELL AS AWARD AMOUNTS, TO ACCOUNTS RECEIVABLE AND OTHER DEPARTMENTS AS NECESSARY TO ENSURE THE ACCURACY OF THE AWARDS. IN ADDITION, THE FINANCIAL AID OFFICE IS RESPONSIBLE FOR ENSURING THAT AWARDS ARE MADE IN CONJUNCTION WITH THE SCHOLARSHIP CRITERIA AND AWARDED IN THE AMOUNT APPROVED BY THE OFFICE OF ADVANCEMENT. X X 1 1 X X X X 0 1 0 0 0 0 0 1 0 RICHARD PAPPAS PRESIDENT 366709 0 157629 0 36789 0 293240 0 15788 0 870155 0 0 0 MICHAEL VOLK TREASURER/SECRETARY/EVP FOR FINANCE 239509 0 85155 0 5866 0 83565 0 18226 0 432321 0 0 0 DAVID VENEKLASE EVP FOR ORGANIZATIONAL DEVELOPMENT 202328 0 72859 0 4582 0 77310 0 6557 0 363636 0 0 0 SCOTT EPSTEIN EVP FOR QUALITY AND EFFECTIVENESS 187317 0 64477 0 4505 0 72785 0 14964 0 344048 0 0 0 GILDA GELY EVP FOR ACADEMICS AND PROVOST 198450 0 70000 0 12949 0 54000 0 5582 0 340981 0 0 0 WALTER O'NEILL EVP FOR ENROLLMENT AND STUDENT SERVI 175610 0 61344 0 4709 0 70573 0 18060 0 330296 0 0 0 RACHEL RENDER EVP FOR ADVANCEMENT 183906 0 64750 0 8434 0 50941 0 18306 0 326337 0 0 0 DEBRA COOPER EVP FOR MARKETING AND COMMUNICATIONS 169414 0 61863 0 10572 0 47847 0 14947 0 304643 0 0 0 DAVID LAWRENCE VP FOR ADMISSIONS AND STRATEGIC PART 179621 0 23634 0 7933 0 20543 0 18181 0 249912 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE IS PROVIDED TO CERTAIN EMPLOYEES WHO RECEIVED HOUSING LOANS. INTEREST IS CHARGED AT APPLICABLE IRS RATES AND INCLUDED IN EMPLOYEES' W-2 GROSS INCOME. IN ADDITION, RICHARD PAPPAS IS PAID A MONTHLY HOUSING ALLOWANCE, WHICH TOTALED $30,000.00 AND IS INCLUDED IN HIS GROSS INCOME. CERTAIN EMPLOYEES HAVE CLUB DUES PAID ON THEIR BEHALF FOR WORK RELATED FUNCTIONS. PART I, LINE 4B THE FOLLOWING INDIVIDUALS PARTICIPATE IN A NONQUALIFIED 457(F) DEFERRED COMPENSATION PLAN AND HAD THE FOLLOWING AMOUNTS CONTRIBUTED TO THE PLAN FOR THE YEAR REPORTED: RICHARD PAPPAS $56,293; MICHAEL VOLK, $33,282; GILDA GELY $27,000; WALTER O'NEILL $24,613; DAVE VENEKLASE $28,002; SCOTT EPSTEIN $25,719; DEB COOPER $23,986; RACHEL RENDER $25,966. IN ADDITION, THE FOLLOWING ALSO PARTICIPATE IN A NONQUALIFIED DEFERRED COMPENSATION PLAN THAT INCLUDES CERTAIN RETENTION BONUSES TO BE PAID IF THEY REMAIN EMPLOYED BY THE UNIVERSITY THROUGH CERTAIN SERVICE DATES. DEFERRED COMPENSATION IN THE AMOUNTS OF $208,447 FOR RICHARD PAPPAS; $21,783 FOR MICHAEL VOLK; $21,783 FOR WALTER O'NEILL; $21,783 FOR DAVE VENEKLASE; AND $21,783 FOR SCOTT EPSTEIN ARE INCLUDED IN THEIR TOTAL COMPENSATION REPORTED ON SCHEDULE J UNDER THIS PLAN. PART I, LINE 7 AS INDICATED IN SCHEDULE J, PART II, SEVERAL INDIVIDUALS RECEIVED A BONUS BASED ON PERFORMANCE AND THE FINANCIAL RESULTS OF THE ORGANIZATION. THE PRESIDENT'S BONUS IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE AND ALSO THE ENTIRE BOARD. ALL OTHER BONUSES PAID OUT ARE REVIEWED BY THE PRESIDENT. A MICHIGAN FINANCE AUTHORITY 800596186 NONEAVAIL 2018-10-24 18505000 SEE PART VI 0 0 0 B MICHIGAN FINANCE AUTHORITY 800596186 NONEAVAIL 2019-12-16 4791078 SEE PART VI 0 0 0 C MICHIGAN FINANCE AUTHORITY 800596186 NONEAVAIL 2020-09-30 22785000 SEE PART VI 0 0 0 A 4880000 18505000 18505000 1 0 1 1 B 1520497 4791078 4791078 1 0 1 1 C 167071 22785000 165000 22620000 1 0 1 1 A 0 0 1 0 0 0.00700 0.00000 0.00700 0 0 0 B 0 0 1 0 0 0.00500 0.00000 0.00500 0 0 0 C 0 0 1 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 1 0 1 1 FIFTH THIRD BANK 9.800000000000 0 0 0 0 0 B 0 0 1 0 1 0 0 0 0 C 0 0 1 0 1 1 SEE PART VI 0 0 0 0 0 A 0 B 0 C 0 SCHEDULE K, PART I, ROW A, BOND ISSUES: (F) DESCRIPTION OF PURPOSE: REISSUE/REFUND 100% OF OUTSTANDING BONDS ISSUED 12/29/2010 (THE "SERIES 2010 BONDS"). THE SERIES 2010 BONDS REFUNDED 100% OF OUTSTANDING BONDS ISSUED 8/9/2002 AND 6/19/2004 AND A PORTION OF OUTSTANDING BONDS ISSUED 8/7/2008. SCHEDULE K, PART I, ROW B, BOND ISSUES: (F) DESCRIPTION OF PURPOSE: REISSUE/REFUND 100% OF OUTSTANDING BONDS ISSUED 10/24/2018 (THE "REISSUED SERIES 2017 BONDS"). THE REISSUED SERIES 2017 BONDS REISSUED/REFUNDED 100% OF OUTSTANDING BONDS ISSUED ON 3/21/2017 (THE "SERIES 2017 BONDS"). THE SERIES 2017 BONDS REFUNDED 100% OF OUTSTANDING BONDS ISSUED 1/19/2006 AND 8/07/2008. SCHEDULE K, PART I, ROW C, BOND ISSUES: (F) DESCRIPTION OF PURPOSE: REISSUE/REFUND 100% OF OUTSTANDING BONDS ISSUED 10/24/2018 (THE "REISSUED SERIES 2012 BONDS") AND 100% OF OUTSTANDING BONDS ISSUED 10/24/2018 (THE "REISSUED SERIES 2015 BONDS"). THE REISSUED SERIES 2012 BONDS REISSUED/REFUNDED 100% OF OUTSTANDING BONDS ISSUED 7/26/2012. THE REISSUED SERIES 2015 BONDS REISSUED/REFUNDED 100% OF OUTSTANDING BONDS ISSUED 8/13/2015. SCHEDULE K, PART III, COLUMN A: PART III COLUMN A IS NOT COMPLETED FOR THE PORTION OF THE BONDS WHICH REFUNDED THE PORTION OF THE SERIES 2010 BONDS ALLOCATED TO REFUND THE MICHIGAN HIGHER EDUCATION FACILITIES AUTHORITY VARIABLE RATE DEMAND LIMITED OBLIGATION REVENUE BONDS, SERIES 2002 (DAVENPORT UNIVERSITY PROJECT), DATED AUGUST 29, 2002 (I.E., BONDS ISSUED PRIOR TO JANUARY 1, 2003). SCHEDULE K, PART III, COLUMN B, LINE 2: THE LEASE AGREEMENTS ARE FOR LAUNDRY MACHINES IN STUDENT HOUSING FACILITIES AND CONSTITUTE INCIDENTAL USE UNDER TREAS. REG. SEC. 1.141-3(D)(5). SCHEDULE K, PART III, COLUMNS B AND C, LINE 3A: THE MANAGEMENT AGREEMENTS QUALIFY FOR THE SAFE HARBOR UNDER REV. PROC. 97-13. SCHEDULE K, PART IV, COLUMN C, LINE 4B OLD NATIONAL BANK AND FIFTH THIRD BANK. PART IV, COLUMN C, LINE 4C 10 YEARS FOR THE OLD NATIONAL BANK SWAP AND 4.8 YEARS FOR THE FIFTH THIRD BANK SWAP. WILBUR LETTINGA TRUSTEE 143573 PRAIRIE CREEK INVESTORS LLC IS OWNED BY WILBUR LETTINGA AND RENTED TO DAVENPORT UNIVERSITY 0 WILBUR LETTINGA TRUSTEE 802913 DU APARTMENTS IS OWNED BY WILBUR LETTINGA AND RENTED TO DAVENPORT UNIVERSITY 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE AUDIT AND FINANCE COMMITTEE PRIOR TO FILING. A COPY OF THE FORM 990 IS ALSO PROVIDED TO ALL BOARD MEMBERS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL DISCLOSURE STATEMENTS ARE FILED WITH THE UNIVERSITY, AND REVIEWED BY THE CFO/EXECUTIVE VP FOR FINANCE. IF A CONFLICT ARISES, THE BOARD MEMBER WOULD STAY IN THE ROOM, NOT PARTAKE IN CONVERSATION UNLESS ASKED, AND ABSTAIN FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE UNIVERSITY'S PRESIDENT AND KEY EMPLOYEES IS REVIEWED ANNUALLY BY THE BOARD OF TRUSTEES' COMPENSATION AND CONFLICT OF INTEREST COMMITTEE. THE COMMITTEE REQUIRES THAT A COMPENSATION STUDY TAKE PLACE PERIODICALLY. THE COMPENSATION STUDY INVOLVES HIRING A CONSULTANT TO PERFORM ANALYSIS OF DAVENPORT UNIVERSITY COMPENSATION LEVELS AS COMPARED TO PEER ORGANIZATION'S COMPENSATION INFORMATION GATHERED FROM SURVEYS AND PUBLICLY AVAILABLE DATA. THE MOST RECENT YEAR THIS PROCESS WAS UNDERTAKEN WAS FISCAL YEAR 2020/21. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE TO THE GENERAL PUBLIC. FORM 990, PART XI, LINE 9: CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE 3,468. CHANGE IN INTEREST RATE SWAP AGREEMENT 45,328. CHANGE IN POST RETIREMENT BENEFITS 266,366. FORM 990, PART XII, LINE 2C: THERE HAS BEEN NO CHANGE IN PROCESS FROM THE PRIOR YEAR. DAVENPORT UNIVERSITY FOUNDATION 6191 KRAFT AVE SE GRAND RAPIDS MI 49512 382434184 SUPPORTING ORGANIZATION MI 501(C)(3) LINE 12A, I DAVENPORT UNIVERSITY 1 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 DAVENPORT UNIVERSITY FOUNDATION C 1079809 CASH DAVENPORT UNIVERSITY FOUNDATION L 966653 FMV