2021-05-17T13:07:22-05:00 2020-06-30 BKD LLP 312 WALNUT STREET SUITE 3000 CINCINNATI OH 45202 990 2019-07-01 610469267 CAMPBELLSVILLE UNIVERSITY INC % TIM JUDD CAMP 2707895000 1 UNIVERSITY DRIVE CAMPBELLSVILLE KY 42718 MR TIM JUDD VP FINANCE 2707895000 2021-03-15 true AARON HERSHBERGER P00961884 5136218300 2019 2022-09-23 18:48:47Z DR MICHAEL V CARTER 1 UNIVERSITY DRIVE CAMPBELLSVILLE KY 42718 156728488 false X WWW.CAMPBELLSVILLE.EDU X 1906 KY SEE SCHEDULE O 45 42 1917 212 16969 5532742 6894316 138615449 134863900 1592163 1894733 3493460 3938530 149233814 147591479 24876811 25906191 0 0 45159607 53216913 0 0 1912318 43358560 46833949 113394978 125957053 35838836 21634426 147882355 173713560 51702344 57403120 96180011 116310440 X CAMPBELLSVILLE UNIVERSITY IS A COMPREHENSIVE, CHRISTIAN INSTITUTION THAT OFFERS NON-CREDIT TECHNICAL PROGRAMS, ALONG WITH CERTIFICATES, ASSOCIATES, UNDERGRADUATE AND GRADUATE PROGRAMS. THE UNIVERSITY IS DEDICATED TO ACADEMIC EXCELLENCE SOLIDLY GROUNDED IN THE LIBERAL ARTS THAT FOSTERS PERSONAL GROWTH, INTEGRITY AND PROFESSIONAL PREPARATION WITHIN A CARING ENVIRONMENT. THE UNIVERSITY PREPARES STUDENTS AS CHRISTIAN SERVANT LEADERS FOR LIFE-LONG LEARNING, CONTINUED SCHOLARSHIP BY LINKING DISCOVERY RESEARCH TO KNOWLEDGE AT THE DOCTORAL LEVEL, AND ACTIVE PARTICIPATION IN A DIVERSE, GLOBAL SOCIETY. false false 116611377 25906191 138227172 TO PROVIDE A QUALITY LIBERAL ARTS EDUCATION TO STUDENTS UTILIZING THE FOUR CORE VALUES OF THE INSTITUTION WHICH INCLUDE: TO FOSTER ACADEMIC EXCELLENCE THROUGH PRE-PROFESSIONAL CERTIFICATES, ASSOCIATES, BACCALAUREATE AND MASTER'S PROGRAMS THROUGH TRADITIONAL, TECHNICAL AND ONLINE SYSTEMS; TO PROVIDE AN ENVIRONMENT CONDUCIVE TO STUDENT SUCCESS; TO UPHOLD THE DIGNITY OF ALL PERSONS AND VALUE DIVERSE PERSPECTIVES WITHIN A CHRIST-CENTERED COMMUNITY; AND TO MODEL SERVANT LEADERSHIP THROUGH EFFECTIVE STEWARDSHIP OF RESOURCES. OVER 90% OF OUR STUDENTS RECEIVE STUDENT FINANCIAL AID IN THE FORM OF ACADEMIC SCHOLARSHIPS, GRANTS, LOANS AND STUDENT EMPLOYMENT OPPORTUNITIES. THE UNIVERSITY HAS 89 ACADEMIC PROGRAMS AND IS COMMITTED TO ACADEMIC EXCELLENCE THROUGH A STUDENT TO FACULTY RATIO OF 13:1. 116611377 true true false false false false true true false true true false false false true true false true true false false false false false true false false false true true true false false false false false false false false true false true true false false true true false false false true 198 0 true 1917 true true true false false false true true true true false false false false true false false false X 45 42 false false false false false false false true true false false true true true true true true true true false CA KY TN VA X TIM JUDD 2707895587 1 UNIVERSITY DRIVE CAMPBELLSVILLE KY 42718 Dr Michael V Carter President 50.0 0.0 X 374914 0 55400 Dr Sunny Onyiri Professor of Buesiness 40.0 0.0 X 350268 0 36817 Dr Charles Crain Asst Professor of Business 40.0 0.0 X 297716 0 30995 Dr Nagamani Palla Professor of Business 40.0 0.0 X 273184 0 24643 Dr Kiran Palla Inst of Business 40.0 0.0 X 273734 0 316 Dr Jimmie Flores Asst Professor of Business 40.0 0.0 X 268143 0 176 Dr H Keith Spears VP Communications 50.0 0.0 X 197162 0 12181 Dr Donna Hedgepath Provost/VP Academic Affairs 50.0 0.0 X 177092 0 23788 MR Otto Tennant SVP Operations & Admin 50.0 0.0 X 134439 0 13709 Mr Claude Hollingswor VP Athletics 50.0 0.0 X 125691 0 20590 Dr Jay Conner Trustee 10.0 10.0 X 76520 61500 0 Mr Timothy Judd VP Finance 50.0 0.0 X 123886 0 9670 Dr Shane Garrison VP Enrollment Services 50.0 0.0 X 113301 0 19756 Mr Benji Kelly VP Development 50.0 0.0 X 122779 0 9931 Mr Ron Rafferty Trustee/Adjunct Instructor 10.0 0.0 X 7200 0 0 Mr Ivan Bennett Trustee 1.0 0.0 X 0 0 0 Mr Kenny Bennett Trustee 1.0 0.0 X 0 0 0 Mr Barry Bertram Trustee 1.0 0.0 X 0 0 0 Mr Jerry Blankenship Trustee 1.0 0.0 X 0 0 0 Mr Barry Blevins Trustee 1.0 0.0 X 0 0 0 Mr Steve Branscum Trustee 1.0 0.0 X 0 0 0 Mr George Bright Trustee 1.0 0.0 X 0 0 0 Mrs Pat Burkhart Trustee 1.0 0.0 X 0 0 0 Dr Anna Mary Byrdwell Trustee 1.0 0.0 X 0 0 0 Dr Joel Carwile Trustee 1.0 0.0 X 0 0 0 Mrs Terri Cassell Trustee 1.0 0.0 X 0 0 0 Dr Karl Clinard Trustee 1.0 0.0 X 0 0 0 Mr David Cozart Trustee 1.0 0.0 X 0 0 0 Mr Mike Eastridge Trustee 1.0 0.0 X 0 0 0 Dr Doug Feltner Trustee 1.0 0.0 X 0 0 0 Dr Donnie Gosser Trustee 1.0 0.0 X 0 0 0 Dr E Bruce Heilman Trustee - Term Ended 1.0 0.0 X 0 0 0 Mr Edward Holmes Trustee 1.0 0.0 X 0 0 0 Gen Howard Hunt Trustee 1.0 0.0 X 0 0 0 Dr James Jones Trustee 1.0 0.0 X 0 0 0 Mr Henry Lee Chairman, Trustee 15.0 0.0 X 0 0 0 Dr Ron Lewis Trustee 1.0 0.0 X 0 0 0 Dr Alan Medders Trustee 1.0 0.0 X 0 0 0 Mr Bret Melrose Trustee 1.0 0.0 X 0 0 0 Mr Guy Montgomery Trustee 1.0 0.0 X 0 0 0 Mr Alex Montgomery Trustee 1.0 0.0 X 0 0 0 Dr Larry Noe Trustee 1.0 0.0 X 0 0 0 Mr Paul Osborne Trustee 1.0 0.0 X 0 0 0 Dr Joseph Owens Trustee 1.0 0.0 X 0 0 0 Dr Carol Peddicord Trustee 1.0 0.0 X 0 0 0 Mr Norris Priest Trustee 1.0 0.0 X 0 0 0 Mrs Ava Bingham Reyno Trustee 1.0 0.0 X 0 0 0 Mr Chris Reynolds Trustee 1.0 0.0 X 0 0 0 Dr Jay Robison Trustee 1.0 0.0 X 0 0 0 Ms Shirley Scott Trustee 1.0 0.0 X 0 0 0 Mr Billy Ray Smith Trustee 1.0 0.0 X 0 0 0 Ms Malinda Smith Trustee 1.0 0.0 X 0 0 0 Rev Matthew Smyzer Trustee 1.0 0.0 X 0 0 0 Mr Haywood Spinks Trustee 1.0 0.0 X 0 0 0 Mr Tommy Turner Trustee 1.0 0.0 X 0 0 0 Mr Joe Walters Trustee 1.0 0.0 X 0 0 0 Mrs Ashli Watts Trustee 1.0 0.0 X 0 0 0 Ms Jane Wheatley Trustee 1.0 0.0 X 0 0 0 Rev Leon Wilson Trustee 1.0 0.0 X 0 0 0 Mr Wm Steve Wright Trustee 1.0 0.0 X 0 0 0 2916029 61500 257972 60 false true false Amplified Performance Solutions LLP 1410 LYONS AVENUE LASALLE ONTARIO CA N9J 3K3 Marketing 7532752 HILPP Construction Inc 313 Koehler Dr LEBANON KY 40033 Construction 4960486 Wiley Education Services LLC 1415 West 22nd Street OAKBROOK IL 60523 Online Platform 4544660 Pro-Services Inc 541 Blue Hole Rd CAMPBELLSVILLE KY 42718 Construction 3044823 Pioneer College Caterers 25055 W Valley Pkwy Suite 120 OLATHE KS 66061 Food Services 3013543 27 93275 3565625 3235416 283545 6894316 TUITION AND FEES 611710 127821455 127821455 STUDENT HOUSING AND MEALS 611710 6714406 6714406 CAMP OUTREACH PROGRAM 611710 328039 328039 134863900 744850 14000 730850 15823 15823 0 750204 180023 570181 0 570181 570181 10069466 10900 8755477 190829 1313989 -179929 1134060 1134060 23688 93275 10680 13008 13008 0 0 0 0 0 0 DEPARTMENTAL MISCELLANEOUS REVENUE 611710 2752096 2749127 2969 ATHLETICS INCOME 611710 167721 167721 ACTUARIAL ADJUSTMENT SPLIT INTEREST 611710 435524 435524 3355341 147591479 138216272 16969 2463922 0 25906191 25906191 0 0 1623714 884515 501141 238058 0 42898515 39758781 2093016 1046718 1719705 1576954 96290 46461 3964530 3528743 337911 97876 3010449 2764558 164681 81210 0 0 61848 61848 0 0 241352 241352 11670611 10961576 703027 6008 11150875 10913048 232237 5590 3018162 2797873 192093 28196 490943 442891 45235 2817 0 6864688 6459220 331225 74243 1988692 1841315 45100 102277 0 0 1096313 1024278 69686 2349 0 3618810 3372120 238957 7733 228143 228143 MISCELLANEOUS 6403512 4151171 2079559 172782 125957053 116611377 7433358 1912318 0 0 17437282 19461631 1776301 1733020 6271337 6262009 0 0 0 0 283008 266984 111023 118790 416653 545303 146606597 34284826 84725322 112321771 33464664 29377514 0 0 0 0 0 0 3396765 3626538 147882355 173713560 6396125 10795296 0 0 4657323 4316006 37998100 40898802 0 0 0 0 114462 77210 0 0 2536334 1315806 51702344 57403120 X 71316948 90851152 24863063 25459288 96180011 116310440 147882355 173713560 X 21634426 -1712924 208927 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 2 105.00 1 false 500.00 20460 X false 29384985 546614 24622 470527 29485694 20968711 7838152 1033896 455774 29384985 13976207 6439814 1205044 494701 157653 20968711 12988408 275731 1329275 517079 100128 13976207 13336302 199725 -169 482326 65124 12988408 0.44012 0.46628 0.09359 true false 16662380 16662380 103730077 27985395 75744683 808747 188789 619958 15456509 6110643 9345866 9948884 9948884 112321771 0 ASSETS HELD FOR OTHERS 124684 ANNUITIES AND TRUSTS PAYABLE 1147255 ADVANCES FROM FED GOV'T FOR STUDENT LOANS 43867 1315806 X SCHEDULE D, PART X, LINE 2 THE UNIVERSITY IS EXEMPT FROM INCOME TAXES UNDER SECTION 501 OF THE INTERNAL REVENUE CODE AND A SIMILAR PROVISION OF STATE LAW. HOWEVER, THE UNIVERSITY IS SUBJECT TO FEDERAL INCOME TAX ON ANY UNRELATED BUSINESS TAXABLE INCOME. THE UNIVERSITY FILES TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. THE UNIVERSITY HAS ADOPTED THE PROVISIONS OF ACCOUNTING STANDARDS RELATED TO UNCERTAIN TAX POSITIONS. THE UNIVERSITY DOES NOT HAVE ANY UNCERTAIN POSITIONS ON OPEN RETURNS THAT SHOULD BE REFLECTED IN THE CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2020. CAMPBELLSVILLE UNIVERSITY RESEARCH COMPANY, LLC IS A LIMITED LIABILITY COMPANY FORMED IN FEBRUARY 2017, WHOSE SOLE MEMBER IS CAMPBELLSVILLE UNIVERSITY. THE LIMITED LIABILITY COMPANY ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION 740. THERE IS NO MATERIAL TAX EXPENSE FOR THE YEAR ENDED JUNE 30, 2020. SCHEDULE D, PART II, LINE 9 THE UNIVERSITY EVALUATED THE NATURE OF THE CONSERVATION EASEMENTS IN PLACE FOR TWO PROPERTIES IT HOLDS. OUR FINDING WAS THAT THESE EASEMENTS NEITHER INCREASED OR DECREASED THE MARKET VALUE OF THE PROPERTY OR ITS USE FOR EDUCATIONAL PURPOSES. THE PROPERTIES WERE ACQUIRED AND RECORDED AT FAIR MARKET VALUE. THE PROPERTIES ARE HELD IN PERPETUITY AND ADJUSTED TO FAIR MARKET VALUE ANNUALLY. NO FURTHER MODIFICATIONS ARE MADE DUE TO THESE EASEMENTS. SCHEDULE D, PART III, LINE 1A ALL COLLECTIONS OF WORKS OF ART, HISTORICAL TREASURES AND SIMILAR ASSETS ARE CAPITALIZED. ITEMS ADDED TO THE COLLECTIONS ARE CAPITALIZED AT COSTS IF PURCHASED, OR AT ESTIMATED FAIR VALUE ON THE ACQUISITION DATE IF DONATED. COLLECTION ITEMS SOLD OR REMOVED ARE REPORTED AS UNRESTRICTED OR TEMPORARILY RESTRICTED GAINS OR LOSSES DEPENDING ON DONOR STIPULATIONS, IF ANY, PLACED ON THE ITEMS AT THE TIME OF ACQUISITION. SCHEDULE D, PART III, LINE 4 EDUCATIONAL BOOKS AND RARE EQUIPMENT TO ENHANCE THE EDUCATIONAL EXPERIENCE PROVIDED IN THE ACADEMIC PROGRAM SCHEDULE D, PART V, LINE 4 THE PURPOSE OF THE UNIVERSITY'S ENDOWMENT IS TO SUPPORT STUDENT FINANCIAL AID AND DEPARTMENTAL EXPENSES BASED ON ENDOWMENT DONOR RESTRICTIONS. true true true true true true true false false false false false false false false true false true SCHEDULE E, PART I, LINE 3 THE UNIVERSITY'S POLICY IS PUBLISHED ANNUALLY VIA THE UNIVERSITY WEBSITE AND IN ALL EMPLOYEE/STUDENT HANDBOOKS AND/OR MANUALS. SCHEDULE E, PART I, LINE 6A THE UNIVERSITY RECEIVES FEDERAL AND STATE GRANTS PRIMARILY FOR STUDENT FINANCIAL AID. THESE FUNDS ARE AWARDED AND MANAGED ACCORDING TO FEDERAL AND STATE GUIDELINES AND ARE AUDITED ON AN ANNUAL BASIS BY OUR EXTERNAL AUDITORS TO ENSURE COMPLIANCE WITH ALL APPLICABLE LAWS AND PROVISIONS. BMC AUCTION 31338 9500 21838 4727 413 Success Dinner 85625 83775 1850 4650 500 390 0 0 0 0 0 0 0 116963 93275 23688 9377 500 803 10680 13008 true Student Financial Aid 2341 25906191 SCHEDULE I, PART I, LINE 2 PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS THE UNIVERSITY HAS DEVELOPED A QUANTIFIED ANALYSIS OF OUR AWARDING PRACTICES AND POLICIES. THESE PRACTICES AND POLICIES ARE REVIEWED ANNUALLY TO DETERMINE WHETHER CHANGES ARE NEEDED TO OUR PHILOSOPHY AND FINANCIAL AID PACKAGING PHILOSOPHY. X X true true X X X X false false false false false false false false false Dr Donna Hedgepath Provost/VP Academic Affairs 177092 0 0 10999 12789 200880 Dr H Keith Spears VP Communications 197162 0 0 11794 387 209343 Dr Sunny Onyiri Professor of Buesiness 350268 0 0 21450 15367 387085 Dr Charles Crain Asst Professor of Business 297716 0 0 18262 12733 328711 Dr Kiran Palla Inst of Business 273734 0 0 0 316 274050 Dr Nagamani Palla Professor of Business 273184 0 0 12273 12370 297827 Dr Jimmie Flores Asst Professor of Business 268143 0 0 0 176 268319 Dr Michael V Carter President 303728 0 71186 18600 36800 430314 SCHEDULE J, PART I, LINE 1A DR. MICHAEL CARTER IS PROVIDED A RESIDENCE. DR. CARTER IS REQUIRED TO LIVE IN THE RESIDENCE AS A CONDITION OF HIS EMPLOYMENT. THE RESIDENCE IS LOCATED ON CAMPUS. NO AMOUNT RELATED TO THE RESIDENCE IS INCLUDED IN HIS TAXABLE COMPENSATION. THE UNIVERSITY PROVIDES DR. CARTER A COUNTRY CLUB MEMBERSHIP. THE VALUE OF THE MEMBERSHIP IS EXCLUDED FROM HIS TAXABLE COMPENSATION AS THE MEMBERSHIP IS USED ONLY FOR BUSINESS PURPOSES. A CITY OF CAMPBELLSVILLE KY 616002310 134517DH1 2017-08-30 16195000 Current Refunding 2017 Series false false false B CITY OF CAMPBELLSVILLE KY 616002310 134517cz2 2014-05-01 9750000 Current Refunding 2014 Series false false false C CITY OF CAMPBELLSVILLE KY 616002310 134517ck5 2013-09-30 17850000 Current Refunding 2013A Series false false false A 280000 0 16529867 290093 0 0 322129 0 0 3935723 12272015 0 2019 true false true true B 1150000 0 9721331 207041 0 0 190250 0 0 0 9531081 0 2014 true true true true C 3590000 0 19657902 364239 0 0 330702 0 0 2001705 17325495 0 2015 true false true true A false false false false 0 false false false true B false false false false 0 false false false true C false false true true false 0 false false false true A false false false true false false 0 false 0 false true B false false true false false false 0 false 0 false true C false false true false false false 0 false 0 false true A true B true C true SCHEDULE K, PART IV, LINE 2 THE REBATE COMPUTATION WAS PERFORMED ON NOVEMBER 22, 2019. Debbie Carter FAMILY MEMBER OF OFFICER 117225 COMPENSATION false Eric Carter FAMILY MEMBER OF OFFICER 101368 COMPENSATION false Wesley Carter FAMILY MEMBER OF OFFICER 136382 COMPENSATION false Ariel Darnell-Carter FAMILY MEMBER OF OFFICER 46837 COMPENSATION false Courtney Murray Carter FAMILY MEMBER OF OFFICER 49451 COMPENSATION false Pam Tennant FAMILY MEMBER OF OFFICER 33724 COMPENSATION false Jennifer Garrison FAMILY MEMBER OF OFFICER 52340 COMPENSATION false Nancy Walters FAMILY MBR OF FMR OFFICER 20936 COMPENSATION false Pete Hedgepath FAMILY MEMBER OF OFFICER 31000 COMPENSATION false Jason Spears FAMILY MEMBER OF OFFICER 163903 COMPENSATION false Kaleb Chowning FAMILY MBR OF FMR OFFICER 41225 COMPENSATION false Don Cheatham FAMILY MBR OF FMR OFFICER 53064 COMPENSATION false Bennett's Carpet TRUSTEE Owned Business 290972 Carpet installation false Blevin's Construction TRUSTEE Owned Business 1743959 Building Contractor false Schedule L, Part IV TRANSACTIONS WITH INTERESTED PERSONS DURING THE FISCAL YEAR, CAMPBELLSVILLE UNIVERSITY ENTERED INTO THE FOLLOWING BUSINESS TRANSACTIONS WITH CURRENT UNIVERSITY TRUSTEES. BENNETT'S CARPETS, OWNED BY IVAN BENNETT WHO IS A CURRENT UNIVERSITY TRUSTEE, FOR CARPET INSTALLATION IN THE AMOUNT OF $290,972. BLEVIN'S CONSTRUCTION, OWNED BY BARRY BLEVINS WHO IS A CURRENT UNIVERSITY TRUSTEE, FOR BUILDING CONTRACTOR SERVICES IN THE AMOUNT OF $1,743,959. X 9018 FMV X 3 36980 FMV X 2 36666 FMV X 1 100000 FMV X Equipment 7 28196 FMV X Furniture 4 43360 FMV X Miscellaneous 27 29325 FMV 148 false true false PART I, COLUMN B NUMBER THE NUMBER REPORTED ON PART I, COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART I, LINE 1 ORGANIZATION'S MISSION CAMPBELLSVILLE UNIVERSITY IS A COMPREHENSIVE, CHRISTIAN INSTITUTION THAT OFFERS NON-CREDIT TECHNICAL PROGRAMS, ALONG WITH CERTIFICATES, ASSOCIATES, UNDERGRADUATE AND GRADUATE PROGRAMS. THE UNIVERSITY IS DEDICATED TO ACADEMIC EXCELLENCE SOLIDLY GROUNDED IN THE LIBERAL ARTS THAT FOSTERS PERSONAL GROWTH, INTEGRITY AND PROFESSIONAL PREPARATION WITHIN A CARING ENVIRONMENT. THE UNIVERSITY PREPARES STUDENTS AS CHRISTIAN SERVANT LEADERS FOR LIFE-LONG LEARNING, CONTINUED SCHOLARSHIP BY LINKING DISCOVERY RESEARCH TO KNOWLEDGE AT THE DOCTORAL LEVEL, AND ACTIVE PARTICIPATION IN A DIVERSE, GLOBAL SOCIETY. FORM 990, PART VI, SECTION B, LINE 11B PROCESS OF THE REVIEW OF FORM 990 The Form 990 is prepared and reviewed by a certified public accounting firm. The university's finance and accounting team reviews the return prior to providing a copy to the audit committee for review. THE UNIVERSITY AUDIT COMMITTEE OF THE BOARD OF TRUSTEES IS DELEGATED THE RESPONSIBILITY OF REVIEWING THE 990 RETURN PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C ORGANIZATION'S PRACTICE FOR MONITORING COMPLIANCE ANNUALLY EVERY BOARD MEMBER, ADMINISTRATIVE LEADERS, AND ANY EMPLOYEES DEEMED NECESSARY ARE REQUIRED TO SIGN AN ACKNOWLEDGEMENT OF RECEIPT OF THE UNIVERSITY CONFLICT OF INTEREST POLICY AND DISCLOSE ANY SUCH INTERESTS TO THE DELEGATED REPRESENTATIVE ON CAMPUS FOR FURTHER REVIEW IF NECESSARY. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION REVIEW PROCESS FOR THE PRESIDENT/CEO THE COMPENSATION OF THE PRESIDENT IS REVIEWED ANNUALLY, OR AS PRESCRIBED IN THE WRITTEN CONTRACT, BY THE PERSONNEL COMMITTEE OF THE BOARD OF TRUSTEES. IN THE REVIEW PROCESS, COMPARABLE DATA FOR EXECUTIVE COMPENSATION IS REVIEWED WHICH CONSISTS PRIMARILY OF THE YAFFEE AND CCCU COMPENSATION SURVEYS AS WELL AS PEER 990 FILINGS. A RESOLUTION FROM THE PERSONNEL COMMITTEE IS SENT TO THE FULL BOARD OF TRUSTEES FOR FINAL APPROVAL IN AN EXECUTIVE SESSION. THE RESOLUTION IS REVIEWED/APPROVED ANNUALLY AT THE AUGUST BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 15B COMPENSATION REVIEW PROCESS FOR ALL EMPLOYEES THE COMPENSATION FOR OTHER ADMINISTRATIVE OFFICERS IS DELEGATED TO THE UNIVERSITY PRESIDENT BY THE BOARD OF TRUSTEES FOR THE UNIVERSITY. THE PRESIDENT REVIEWS COMPENSATION FOR OFFICERS ANNUALLY USING COMPARABLE DATA FROM YAFFEE, CCCU, AND THE CHRONICLE FOR HIGHER EDUCATION FOR OFFICER SALARIES AT PEER INSTITUTIONS. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS OF THE INSTITUTION ARE MADE AVAILABLE UPON WRITTEN REQUEST TO THE UNIVERSITY. FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS EXPLANATION Change in fair value of beneficial interests in trusts: $208,927 CVILLE UNIV RESEARCH COMPANY LLC 1 University Drive UPO 869 Campbellsville KY 42718 821517859 Placement KY -6118 100 CU