2021-05-13T14:36:16-05:00 2020-06-30 430765316 RUBINBROWN LLP ONE NORTH BRENTWOOD SAINT LOUIS MO 63105 990 2019-07-01 430652649 LINDENWOOD COLLEGE LIND 6369494900 209 SOUTH KINGSHIGHWAY ST CHARLES MO 633011693 RICK BANIAK VICE PRESIDENT 6369494900 2021-05-13 1 KIMBERLY A RYAN P00829977 3142903300 2019 2022-09-23 18:48:47Z LINDENWOOD UNIVERSITY JOHN R PORTER 209 SOUTH KINGSHIGHWAY ST CHARLES MO 633011693 157197236 0 X WWW.LINDENWOOD.EDU X 1853 MO REAL EXPERIENCE. REAL SUCCESS.ENHANCING LIVES THROUGH QUALITY EDUCATION AND PROFESSIONAL PREPARATORY EXPERIENCES. 14 14 2828 27 0 0 3268758 9524571 170818271 138666828 1373849 3651365 1602638 1913329 177063516 153756093 44405342 38185775 0 0 83665737 78539705 0 0 1011766 64543571 59158155 192614650 175883635 -15551134 -22127542 463958623 442236277 14395554 14268381 449563069 427967896 X REAL EXPERIENCE. REAL SUCCESS.ENHANCING LIVES THROUGH QUALITY EDUCATION AND PROFESSIONAL PREPARATORY EXPERIENCES. SEE SCHEDULE O.VALUES:INTEGRITY - WE ARE COMMITTED TO ENSURING TRUST AND RESPECT FOR ALL PERSONS IN AN ENVIRONMENT THAT CULTIVATES INDIVIDUAL AND INSTITUTIONAL INTEGRITY.DEDICATION - WE ARE COMMITTED TO DEVELOPING A HIGH-PERFORMANCE WORK ETHIC AND DEDICATION TO DISCIPLINE OR VOCATION.EXCELLENCE - WE ARE COMMITTED TO PROVIDING QUALITY AND EXCELLENCE IN ALL OUR ENDEAVORS.CREATIVITY - WE ARE COMMITTED TO THE DEVELOPMENT OF ORIGINAL IDEAS, KNOWLEDGE AND INNOVATIVE APPROACHES TO SOLVING COMPLEX PROBLEMS.COMMUNITY - WE ARE COMMITTED TO CREATING A CONNECTED, DIVERSE COMMUNITY, SHARING COMMON ATTITUDES, INTERESTS, AND GOALS SUPPORTING PERSONAL AND PROFESSIONAL GROWTH. 0 0 159685042 38185775 138657532 SEE SCHEDULE OINSTRUCTIONAL AND LIBRARY - FACULTY, LIBRARY AND CURRICULUM EXPENSE FOR STUDENTS EARNING AN UNDERGRADUATE, GRADUATE, EDUCATION SPECIALISTS AND DOCTORAL DEGREES AND AS OF FISCAL YEAR ENDED 6/30/2020, APPROXIMATELY 7,524 FULL-TIME EQUIVALENT STUDENTS. APPROXIMATELY 11,577 STUDENTS WERE SERVED. STUDENT SERVICES - ALONG WITH ADMISSIONS, ACADEMIC SERVICES, AND FINANCIAL AID DEPARTMENTS, LINDENWOOD HAS A STUDENT ACTIVITIES OFFICE THAT SERVES AS A COORDINATING CENTER ON CAMPUS AND WORKS WITH APPROXIMATELY 91 STUDENT CLUBS AND ORGANIZATIONS TO FACILITATE THEIR ACTIVITIES AND PROJECTS. THE ATHLETIC DEPARTMENT HAS 23 NCAA DIVISION II SPORTS FOR MEN AND WOMEN, 20 NAIA SPORTS FOR MEN AND WOMEN, AND 19 OTHER NATIONALLY AFFILIATED SPORTS. AUXILIARY - STUDENT ROOM AND BOARD AND AS OF FISCAL YEAR 6/30/2020, APPROXIMATELY 3,035 STUDENTS WERE SERVED.IN MARCH 2020, A NOVEL CORONAVIRUS (AND THE RELATED COVID-19 DISEASE IT CAUSES) WAS DECLARED A GLOBAL PANDEMIC AND AS OF THE TIME OF THIS FILING, THE CORONAVIRUS PANDEMIC IS ONGOING. OUR BUSINESS CONTINUITY RELIES ON STUDENTS SEEKING A HIGHER EDUCATION, WHICH HAS BEEN AFFECTED BY THE VIRUS. THE UNIVERSITY UTILIZED NEW VIDEO CONFERENCING TECHNOLOGY IN ORDER TO CONTINUE BUSINESS OPERATIONS LARGELY REMOTELY. APPROXIMATELY 200 INTERACTIVE CAMERAS WERE INSTALLED IN CLASSROOMS SO THAT CLASSES CAN BE DELIVERED VIRTUALLY AND CONTINUE IN A HYBRID ENVIRONMENT IF NECESSARY. MANY OTHER CORONAVIRUS RELATED PROTOCOLS AND MEASURES WERE TAKEN, INCLUDING NEW GPS BIPOLAR IONIZATION TECHNOLOGY ALONG WITH PHYSICAL BARRIERS WERE INSTALLED TO MINIMIZE THE VIRUS' IMPACT ON BUSINESS OPERATIONS. MANAGEMENT CONTINUES TO MONITOR AND RESPOND TO THE SITUATION. 159685042 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 0 1 0 1 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 13234 0 2828 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 KY MI NH NY OR SC MD X RICK BANIAK 6369494907 209 SOUTH KINGSHIGHWAY ST CHARLES MO 633011693 DOUG MUELLER TREASURER 1.00 X X 0 0 0 DR PATRICIA PENKOSKE SECRETARY 1.00 X X 0 0 0 BEN BLANTON BOARD MEMBER 1.00 X 0 0 0 KEVIN BRAY BOARD MEMBER 1.00 X 0 0 0 JACQUELINE BROCK BOARD MEMBER 1.00 X 0 0 0 NANCY CALVERT BOARD MEMBER 1.00 X 0 0 0 DAVID G COSBY BOARD MEMBER 1.00 X 0 0 0 JONATHAN FORD BOARD MEMBER 1.00 X 0 0 0 RON GORGEN BOARD MEMBER 1.00 X 0 0 0 JOHN W HAMMOND BOARD MEMBER 1.00 X 0 0 0 GRACE HARMON BOARD MEMBER 1.00 X 0 0 0 ELIZABETH HUSS BOARD MEMBER 1.00 X 0 0 0 LARRY G KELLEY BOARD MEMBER 1.00 X 0 0 0 DAVID MASON COMMITTEE CHAIR 1.00 X 0 0 0 DON C MUSICK III BOARD MEMBER 1.00 X 0 0 0 RONALD W OHMES BOARD MEMBER 1.00 X 0 0 0 RONNIE D OSBORN BOARD MEMBER 1.00 X 0 0 0 CHIP PETERSON VICE CHAIRMAN 1.00 X 0 0 0 JO ANNA POLLOCK CO-CHAIR, COMMITTEE CHAIR 1.00 X 0 0 0 CASSANDRA RAY BOARD MEMBER 1.00 X 0 0 0 JANE CALVERT ROGERS BOARD MEMBER 1.00 X 0 0 0 DALE ROLLINGS BOARD MEMBER 1.00 X 0 0 0 JERRY E SCHEIDEGGER CO-CHAIR, COMMITTEE CHAIR 1.00 X 0 0 0 BILL SCHOENHARD BOARD MEMBER 1.00 X 0 0 0 GARY N SHAW BOARD MEMBER 1.00 X 0 0 0 PATRICK SULLIVAN BOARD MEMBER 1.00 X 0 0 0 DONALD TUTTLE CHAIRMAN 1.00 X 0 0 0 JOHN PORTER PRESIDENT (EFFECTIVE 07/2019) 40.00 X 207337 0 21140 DEB AYRES VICE PRESIDENT, HUMAN RESOURCES 40.00 X 219267 0 11400 LISA O'BRIEN ENGER VICE PRESIDENT, UNIVERSITY RELATIONS 40.00 X 188545 0 17087 DIANE MOORE VICE PRESIDENT, OPERATIONS 40.00 X 214423 0 21387 FRANK SANFILIPPO VICE PRESIDENT, FISCAL AFFAIRS 40.00 X 219304 0 14600 MARILYN ABBOTT VICE PRESIDENT, ACADEMIC AFFAIRS 40.00 X 245082 0 23371 TJ RAINS VICE PRESIDENT, INFORMATION TECH. 40.00 X 224157 0 21533 TERRY WHITTUM SENIOR VICE PRESIDENT 40.00 X 234423 0 22677 BRAD WACHLER VICE PRESIDENT, ATHLETICS 40.00 X 226350 0 21478 RENEE PORTER CAMPUS PROVOST, BELLEVILLE 40.00 X 180187 0 18403 HOWARD WALL PROFESSOR, ECONOMICS 40.00 X 180367 0 18925 JED STUGART HEAD COACH, FOOTBALL 40.00 X 168290 0 18097 JOSEPH ALSOBROOK DEAN, LINDENWOOD ONLINE 40.00 X 155873 0 17905 ROGER ELLIS DEAN, PLASTER SCHOOL OF BUSINESS & ENTR. 40.00 X 151654 0 17344 JASON DUDE LIVELY DEAN, SCHOOL OF ARTS, MEDIA, & COMM. 40.00 X 151590 0 17303 ART JOHNSON INTERIM PRESIDENT (THRU 07/2019) 40.00 X 186399 0 10943 BRETT BARGER CAMPUS PRESIDENT, BELLEVILLE 40.00 X 148249 0 18050 MICHAEL SHONROCK PRESIDENT (THRU 06/2019) 40.00 X 762723 0 21549 GREG PHELPS CHIEF ACCT. OFFICER (THRU 05/2019) 40.00 X 144825 0 13552 4209045 0 346744 19 1 1 0 PEDESTAL FOODS 2967 SIDCO DR NASHVILLE TN 37204 FOOD SERVICE 8789935 VOGEL SHEET METAL & HEATING INC 1642 MANUFACTURERS DR FENTON MO 63026 CONSTRUCTION SERVICE 2888721 INTEGRATED FACILITY SERVICES INC 1055 CASSENS INDUSTRIAL CT FENTON MO 63026 ENGINEER AND CONTRACTING 1893024 ST LOUIS LEGACY ICE FOUNDATION DBA CENT 750 CASINO CENTER RD MARYLAND HEIGHTS MO 63043 HOCKEY ICE RENTAL 1591667 SHEET METAL CONTRACTORS PO BOX 32127 SAINT LOUIS MO 63132 CONSTRUCTION SERVICE 1407739 75 7662469 1862102 23176 9524571 INSTRUCTION & AUXILIARY 900099 138657532 138657532 AUXILIARY - UNRELATED 900099 9296 9296 138666828 2094304 2094304 1429239 0 1429239 1429239 1429239 3080000 1918204 2055916 1385227 1024084 532977 1557061 1557061 484090 484090 484090 153756093 138657532 0 5573990 38185775 38185775 2826093 1375495 1150787 299811 62855488 56484357 5978970 392161 1616517 1322165 285955 8397 6765224 6752305 12919 4476383 3598213 828920 49250 845667 82 845585 169048 169048 470993 470993 4708303 4367792 214367 126144 880555 635168 244910 477 1686338 1211415 466105 8818 5076515 4868357 208158 1505404 1499404 6000 191170 175136 11427 4607 13993625 12655904 1337721 1052623 799761 252862 FOOD SERVICE 6041341 6041341 UTILITIES 4645723 4645723 ATHLETICS 4640027 4217044 422983 REPAIRS & MAINTENANCE 4292271 3858532 433739 8958552 6991073 1858297 109182 175883635 159685042 15186827 1011766 20077273 16043292 14964915 10001909 1718870 948693 3722551 3483106 2000000 2000000 1410198 3954906 397113907 176780564 227685244 220333343 188716982 181859902 3019438 2967974 643152 643152 463958623 442236277 7893373 9346458 5972370 3984670 529811 937253 14395554 14268381 X 432170462 412161533 17392607 15806363 449563069 427967896 463958623 442236277 X -22127542 566253 -33884 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 643152 X X X 0 168288870 144057 3264321 5891766 462279 165343203 171451662 142497 6835351 9695770 444870 168288870 160347039 4168668 11069601 3638667 494979 171451662 139311378 2700328 21588526 2740179 513014 160347039 145851147 1169134 -7203921 504982 139311378 0.91090 0.08230 0.00680 1 0 14898575 25023953 39922528 41115292 261292016 135355766 167051542 13272171 7369162 5903009 36433402 34055636 2377766 5078498 5078498 220333343 FUNDS HELD IN CUSTODY FOR OTHERS 878848 OBLIGATIONS UNDER SPLIT-INTEREST AGREEMENTS 58405 937253 115669713 566253 38019 -38219659 -37615387 153285100 470993 470993 153756093 137264886 38019 38019 137226867 470993 38185775 38656768 175883635 PART III, LINE 4: PURPOSE FOR LINDENWOOD UNIVERSITY'S COLLECTIONS THE UNIVERSITY'S HISTORICAL COLLECTIONS CONSISTS OF TWO CATEGORIES: ARTWORK AND HISTORIC PIECES. THE ARTWORK EXPOSES STUDENTS TO VARIOUS STYLES AND TECHNIQUES TAUGHT BY UNIVERSITY FACULTY. THE ART SPEAKS TO THE EDUCATIONAL TRADITIONS AND HELPS PROMOTE A SENSE OF COMMUNITY ON CAMPUS. THE HISTORIC PIECES ARE USED AS SUPPLEMENTAL TEACHING AIDS AND HELP GIVE THE STUDENTS A BETTER GRASP ON IMPORTANT ASPECTS OF WHAT IS BEING TAUGHT IN THE CLASSROOM. PART V, LINE 4: THE PERMANENT ENDOWMENT CONSISTS OF DONOR PRINCIPAL RESTRICTED GIFTS THAT THE ANNUAL INCOME MUST BE USED FOR GENERAL, SCHOLARSHIPS, AND BUILDING AND MAINTENANCE EXPENSES. THE QUASI ENDOWMENTS ARE FUNDS THAT THE UNIVERSITY HAS SET ASIDE TO PROTECT THE PRINCIPAL AND INCOME DISTRIBUTIONS OF THE PERMANENTLY RESTRICTED ENDOWMENT FUND. ANY REMAINING INCOME IS USED FOR FUNDING INSTITUTIONAL STUDENT AID. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST -33,884. SCHOLARSHIPS -38,185,775. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 38,185,775. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 ALL ADVERTISEMENTS (I.E. CATALOGS) INCLUDE STATEMENTS RECOMMENDED FOR IRS EXEMPT ORGANIZATIONS. LINDENWOOD REGULARLY PUBLICIZES ITS RACIAL NONDISCRIMINATION POLICY STATEMENT IN BROADCAST MEDIA, INCLUDING PERMANENTLY ON ITS WEBSITE, AND IN OTHER MATERIALS TO HELP ENSURE IT IS KNOWN TO THE GENERAL COMMUNITY IT SERVES. SCHEDULE E, PART I, LINE 6 GOVERNMENTAL AID HAS BEEN RECEIVED THIS YEAR AS FOLLOWS: STUDENT FINANCIAL AID FROM THE U.S. DEPARTMENT OF EDUCATION, FEDERAL WORK-STUDY AND FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT PROGRAMS. NOTE THAT THE CITY OF BELLEVILLE, ILLINOIS IS REQUIRED TO MAKE AN ANNUAL TAX INCREMENT FINANCE PAYMENT TO LINDENWOOD FOR THE DURATION OF ITS AGREEMENT WITH THE UNIVERSITY (WHICH RUNS FROM 2003 THROUGH 2023) AND HAS DONE SO SINCE THE INCEPTION OF THE AGREEMENT, BUT DID NOT MAKE ITS REQUIRED PAYMENT IN 2020. 0 CENTRAL AMERICA 0 2 PROGRAM SERVICES RECRUITMENT 44270 EUROPE 0 0 PROGRAM SERVICES STUDY ABROAD TUITION 160437 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD TUITION 7011 CENTRAL AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD TUITION 7980 0 2 0 0 0 2 219698 0 219698 SCHOLARSHIPS VARIOUS 722 7654209 ELECTRONIC DISBURSEMENT 0 0 0 0 0 0 PART I, LINE 3: LINDENWOOD HAS CONTRACTED WITH TWO INDIVIDUALS TO BE PART-TIME INDEPENDENT CONTRACTORS TO HELP THE UNIVERSITY RECRUIT STUDENTS IN THE CENTRAL AMERICA REGION. TOTAL FEES AND ALLOTMENT FOR OFFICE EXPENSES FOR 2019-2020 FISCAL YEAR WERE: CONTRACTOR ONE: $17,950 CONTRACTOR TWO: $26,320 TOTAL: $44,270 LINDENWOOD UNIVERSITY PAID UNIVERSIDAD DE GRANADA $11,914 FOR 2 STUDENTS TO STUDY ABROAD IN EUROPE (SPAIN). LINDENWOOD UNIVERSITY PAID UNIVERSITY STUDIES ABROAD CONSORTIUM $7,980 FOR ONE STUDENT TO STUDY ABROAD IN CENTRAL AMERICA (COSTA RICA). LINDENWOOD UNIVERSITY PAID UNIVERSITY STUDIES ABROAD CONSORTIUM $55,000 FOR 8 STUDENTS TO STUDY ABROAD IN EUROPE (ITALY). LINDENWOOD UNIVERSITY PAID UNIVERSITY STUDIES ABROAD CONSORTIUM $5,880 FOR ONE STUDENT TO STUDY ABROAD IN EUROPE (POLAND). LINDENWOOD UNIVERSITY PAID UNIVERSITY STUDIES ABROAD CONSORTIUM $87,643 FOR 8 STUDENTS TO STUDY ABROAD IN EUROPE (UK). LINDENWOOD UNIVERSITY PAID UNIVERSITY STUDIES ABROAD CONSORTIUM $7,011 FOR ONE STUDENT TO STUDY ABROAD IN SOUTH AMERICA (URUGUAY). PART III ACCOUNTING METHOD: 1 SCHOLARSHIPS 5067 30531566 PART III ALL STUDENT AID AWARD LETTERS ARE PREPARED BY LINDENWOOD COLLEGE'S FINANCIAL AID OFFICE. EACH AWARD LETTER HAS A STATEMENT OF CONDITIONS AND IS SIGNED BY THE STUDENT. THE BUSINESS OFFICE POSTS ALL AID TO THE STUDENT'S ACCOUNT FOR ACADEMIC USAGE. BOTH THE BUSINESS OFFICE AND THE FINANCIAL AID OFFICE MONITOR THESE FUNDS. X X 1 1 X X X X 1 0 0 0 0 0 0 0 0 JOHN PORTER PRESIDENT (EFFECTIVE 07/2019) 200000 0 0 0 7337 0 10000 0 11140 0 228477 0 0 0 DEB AYRES VICE PRESIDENT, HUMAN RESOURCES 208000 0 0 0 11267 0 10200 0 1200 0 230667 0 0 0 LISA O'BRIEN ENGER VICE PRESIDENT, UNIVERSITY RELATIONS 182729 0 0 0 5816 0 6198 0 10889 0 205632 0 0 0 DIANE MOORE VICE PRESIDENT, OPERATIONS 206699 0 0 0 7724 0 10150 0 11237 0 235810 0 0 0 FRANK SANFILIPPO VICE PRESIDENT, FISCAL AFFAIRS 204150 0 0 0 15154 0 3400 0 11200 0 233904 0 0 0 MARILYN ABBOTT VICE PRESIDENT, ACADEMIC AFFAIRS 237833 0 0 0 7249 0 11683 0 11688 0 268453 0 0 0 TJ RAINS VICE PRESIDENT, INFORMATION TECH. 201172 0 0 0 22985 0 10243 0 11290 0 245690 0 0 0 TERRY WHITTUM SENIOR VICE PRESIDENT 226699 0 0 0 7724 0 11150 0 11527 0 257100 0 0 0 BRAD WACHLER VICE PRESIDENT, ATHLETICS 198985 0 0 0 27365 0 10353 0 11125 0 247828 0 0 0 RENEE PORTER CAMPUS PROVOST, BELLEVILLE 157202 0 0 0 22985 0 7884 0 10519 0 198590 0 0 0 HOWARD WALL PROFESSOR, ECONOMICS 157680 0 0 0 22687 0 8399 0 10526 0 199292 0 0 0 JED STUGART HEAD COACH, FOOTBALL 145305 0 0 0 22985 0 7750 0 10347 0 186387 0 0 0 JOSEPH ALSOBROOK DEAN, LINDENWOOD ONLINE 147715 0 0 0 8158 0 7523 0 10382 0 173778 0 0 0 ROGER ELLIS DEAN, PLASTER SCHOOL OF BUSINESS & E 136980 0 0 0 14674 0 7118 0 10226 0 168998 0 0 0 JASON DUDE LIVELY DEAN, SCHOOL OF ARTS, MEDIA, & COMM. 134351 0 0 0 17239 0 7115 0 10188 0 168893 0 0 0 ART JOHNSON INTERIM PRESIDENT (THRU 07/2019) 186399 0 0 0 0 0 0 0 10943 0 197342 0 0 0 BRETT BARGER CAMPUS PRESIDENT, BELLEVILLE 146348 0 0 0 1901 0 7688 0 10362 0 166299 0 0 0 MICHAEL SHONROCK PRESIDENT (THRU 06/2019) 759827 0 0 0 2896 0 2292 0 19257 0 784272 0 0 0 GREG PHELPS CHIEF ACCT. OFFICER (THRU 05/2019) 135071 0 0 0 9754 0 3354 0 10198 0 158377 0 0 0 PART I, LINE 4A BRETT BARGER - $158,147 JERRY E SCHEIDEGGER DIRECTOR PLEDGE RECEIVABLE X 2000000 2000000 0 1 1 2000000 TJ RAINS VP, INFORMATION TECHNOLOGY 14500 TUITION REIMBURSEMENT BEN F BLANTON CONSTRUCTION OWNER IS A NON-VOTING DIRECTOR 63728 CONSTRUCTION 0 DON C MUSICK CONSTRUCTION OWNER IS A VOTING DIRECTOR 1921 CONSTRUCTION 0 TOP GUN VENTURES LLC OWNER IS A VOTING DIRECTOR 155829 CONSULTING 0 FORM 990, PART VI, SECTION B, LINE 11B INFORMATION NEEDED TO COMPLETE THE FORM 990 IS COMPILED BY THE ACCOUNTING DEPARTMENT AND THE RETURN IS PREPARED AND SIGNED BY RUBINBROWN LLP. THE COMPLETED 990, INCLUDING REQUIRED SCHEDULES IS PROVIDED TO THE BOARD OF DIRECTORS BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C LINDENWOOD UNIVERSITY'S CONFLICT OF INTEREST PROCEDURES ARE AS FOLLOWS: PRIOR TO A TRUSTEE ACTION ON A CONTRACT OR TRANSACTION INVOLVING A CONFLICT OF INTEREST, A TRUSTEE HAVING A CONFLICT OF INTEREST AND WHO IS IN ATTENDANCE AT THE MEETING SHALL DISCLOSE ALL FACTS MATERIAL TO THE CONFLICT OF INTEREST. A TRUSTEE WHO PLANS NOT TO ATTEND A MEETING AT WHICH HE OR SHE HAS REASON TO BELIEVE THAT THE BOARD OR COMMITTEE WILL ACT ON A MATTER IN WHICH THE PERSON HAS A CONFLICT OF INTEREST SHALL DISCLOSE TO THE CHAIR OF THE MEETING ALL FACTS MATERIAL TO THE CONFLICT OF INTEREST. A PERSON WHO HAS A CONFLICT OF INTEREST SHALL NOT PARTICIPATE IN OR BE PERMITTED TO HEAR THE BOARD'S OR COMMITTEE'S DISCUSSION OF THE MATTER EXCEPT TO DISCLOSE MATERIAL FACTS AND TO RESPOND TO QUESTIONS. A PERSON WHO HAS A CONFLICT OF INTEREST WITH RESPECT TO A CONTRACT OR TRANSACTION THAT WILL BE VOTED ON AT A MEETING SHALL NOT BE COUNTED IN DETERMINING THE PRESENCE OF A QUORUM FOR PURPOSES OF THE VOTE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE PRESIDENT IS MOSTLY FIXED BY A FIVE YEAR WRITTEN CONTRACT CONTAINING A FIXED RATE OF PAY OVER THE FIVE YEAR TERM, WITH AN OPPORTUNITY TO EARN AN INCENTIVE PAYMENT BASED ON ACHIEVEMENT OF CERTAIN OBJECTIVES. ANY CHANGES IN THE SALARY AMOUNT IS HANDLED VIA AN AMENDMENT TO THE CONTRACT, WHICH WOULD HAVE TO BE APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THE AMOUNT OF COMPENSATION IS DETERMINED BY THE EXECUTIVE COMMITTEE, CONSISTING OF MEMBERS WITH VARIOUS PROFESSIONAL AND BUSINESS BACKGROUNDS. THE EXECUTIVE COMMITTEE DETERMINES THE SALARY PARAMETERS BASED ON AN EXTENSIVE REVIEW OF SALARIES AND COMPENSATION PAID TO PRESIDENTS OF OTHER SIMILARLY SIZED UNIVERSITIES, AS PROVIDED BY AN INDEPENDENT COMPENSATION CONSULTING FIRM. COMPENSATION BENCHMARK DATA FOR OTHER OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION IS DETERMINED INTERNALLY BY THE CERTIFIED COMPENSATION SPECIALIST. THE PRESIDENT AND HIS VICE PRESIDENT OF HUMAN RESOURCES USE THIS DATA TO DETERMINE ANNUAL COMPENSATION FOR THE GROUP. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC AT THIS TIME. THE UNIVERSITY WILL PROVIDE A COPY OF THE IRS FORM 990 UPON WRITTEN REQUEST TO THE UNIVERSITY. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENT -33,884. FORM 990, PART XII, LINE 2C THERE WAS NO CHANGE FROM PRIOR YEAR.