2020-10-12T13:22:56-05:00 2020-05-31 363168081 SIKICH LLP 1415 W DIEHL RD SUITE 400 NAPERVILLE IL 605632349 990 2019-06-01 362170999 UNIVERSITY OF ST FRANCIS UNIV 8157403372 500 WILCOX STREET JOLIET IL 604356188 JULEE GARD VP - ADMIN & FINANCE 8157403372 2020-10-09 1 JILL M BOYLE CPA P01246734 6305668400 2020-10-09 67.174.122.44 2020-10-09 07:53:57 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 EDDA6FA8C23DA2D0C439C884A0B361B39F395300 2019 2021-01-29 14:40:06Z ARVID C JOHNSON 500 WILCOX STREET JOLIET IL 604356188 92950422 0 0928 X WWW.STFRANCIS.EDU X 1920 IL HIGHER LEARNING INSTITUTION (POST SECONDARY EDUCATION) 25 24 1149 648 5805 0 3791258 2864083 68306488 70336634 1327892 1854451 650719 81385 74076357 75136553 22216733 25818868 0 0 30886477 31059814 89100 97200 715418 17895626 17231167 71087936 74207049 2988421 929504 99914444 96850136 46745465 45534570 53168979 51315566 X AS A CATHOLIC UNIVERSITY ROOTED IN THE LIBERAL ARTS, WE ARE A WELCOMING COMMUNITY OF LEARNERS CHALLENGED BY FRANCISCAN VALUES AND CHARISM, ENGAGED IN A CONTINUOUS PURSUIT OF KNOWLEDGE, FAITH, WISDOM, AND JUSTICE, AND EVER MINDFUL OF A TRADITION THAT EMPHASIZES REVERENCE FOR CREATION, COMPASSION AND PEACEMAKING. WE STRIVE FOR ACADEMIC EXCELLENCE IN ALL PROGRAMS, PREPARING WOMEN AND MEN TO CONTRIBUTE TO THE WORLD THROUGH SERVICE AND LEADERSHIP. 0 0 44113264 25818868 66068721 INSTRUCTION AND FINANCIAL AIDTHE CATHOLIC, FRANCISCAN UNIVERSITY OFFERS 51 BACCALAUREATE PROGRAMS, INCLUDING 3 ADULT UNDERGRADUATE MAJORS, 18 MASTER'S LEVEL PROGRAMS (ONSITE AND ONLINE CLASSES), 7 SUB-BACCALAUREATE CERTIFICATE PROGRAMS, 17 POST-BACCALAUREATE CERTIFICATE PROGRAMS, 4 POST-MASTERS CERTIFICATE PROGRAMS AND 2 DOCTORAL PROGRAMS. IN FISCAL YEAR 2020, THE UNIVERSITY SERVED 1,745 UNDERGRADUATE AND 2,032 POST-BACCALAUREATE STUDENTS. IN ADDITION, 98% OF TRADITIONAL UNDERGRADUATE STUDENTS AND 100% OF INCOMING FRESHMEN RECEIVED SOME FORM OF FINANCIAL AID. 9306799 5095 STUDENT SERVICESSTUDENT SERVICES INCLUDE ADMISSIONS, WELCOME CENTER, FINANCIAL AID ADMINISTRATION, REGISTRAR, ATHLETICS, STUDENT ENGAGEMENT & LEADERSHIP, ORIENTATION, GRADUATION, CAREER SUCCESS CENTER, HEALTH & WELLNESS AND PERSONAL COUNSELING SERVICES, SUPPORT FOR STUDENTS WITH DISABILITIES, INSTITUTIONAL DIVERSITY, AND UNIVERSITY MINISTRY. IN FISCAL YEAR 2020, 457 STUDENT ATHLETES PARTICIPATED IN BASEBALL, BASKETBALL, BOWLING, CHEERLEADING, CROSS COUNTRY, FOOTBALL, DANCE, GOLF, SOCCER, SOFTBALL, TENNIS, TRACK & FIELD, AND VOLLEYBALL. 7221767 ACADEMIC SUPPORTLIBRARY RESOURCES AND SERVICES, ACADEMIC RESOURCE CENTER, INSTITUTIONAL RESEARCH, STUDENT COMPUTER LABS, AND ACADEMIC TECHNOLOGY, AND DEANS OF EACH OF THE UNIVERSITY'S FOUR COLLEGES ARE INCLUDED IN THIS CATEGORY. THE LIBRARY'S COLLECTION INCLUDED 88,389 BOOKS AND OTHER PAPER DOCUMENTS, 1,942 VOLUMES OF SERIALS, AND 3,523 AUDIOVISUAL MATERIALS. CONSISTENT WITH THE INDUSTRY, THE UNIVERSITY'S RESOURCES CONTINUE TO MOVE AWAY FROM PRINTED MATERIALS AND TOWARD ELECTRONIC RESOURCES AND SUBSCRIPTIONS. THE RESOURCES AT THE LIBRARY ASSIST STUDENTS IN ALL METHODS OF RESEARCH. 4105028 4262108 AUXILIARY ENTERPRISESRESIDENCE EDUCATION, STUDENT HOUSING, FOOD SERVICES, THE BOOKSTORE, AND CONFERENCING SERVICES ARE INCLUDED IN AUXILIARY SERVICES. 320 STUDENTS FILLED STUDENT HOUSING TO 74% CAPACITY IN 2020. NEW PROCESS FOR ORDERING FOOD AND A NEW DINING COMPANY WAS BROUGHT ON THIS YEAR TO SUPPORT SOCIAL DISTANCING. FOOD SERVICES ARE PROVIDED TO STUDENTS, FACULTY AND STAFF 16 HOURS PER DAY. 4105028 4262108 64746858 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 1 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 0 0 0 1 119 0 1149 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 25 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X JULEE GARD 8157403371 500 WILCOX STREET JOLIET IL 605346188 ARVID JOHNSON SECRETARY & UNIVERSITY PRESIDENT 50.00 X 430944 0 66850 JULEE GARD TREASURER AND VP OF ADMIN & FINANCE 50.00 X 193027 0 9633 TERRANCE COTTRELL VP FOR OPERATIONS & IT 50.00 X 163837 0 15542 JOHN GAMBRO DEAN OF COLLEGE OF EDUCATION 50.00 X 143136 0 33037 FRANK PASCOE PROVOST AND ACADEMIC VP 50.00 X 157116 0 15457 BRUCE FOOTE EXECUTIVE DIRECTOR OF FINANCIAL AID 50.00 X 110814 0 55580 ORLANDO GRIEGO DEAN COLLEGE OF BUS & HEALTH ADMIN 50.00 X 151103 0 11368 ROBERT BEHLING PROFESSOR COBHA 50.00 X 147300 0 12385 KRISTIN SHORT VP FOR UNIVERSITY ADVANCEMENT 50.00 X 150566 0 7513 JOSEPH MALLOF CHAIRPERSON OF THE BOARD 4.00 X X 2775 0 0 ANTHONY ARELLANO TRUSTEE 4.00 X 0 0 0 MICHAEL BRENNAN TRUSTEE 4.00 X 0 0 0 SR SUE BRUNO TRUSTEE 4.00 X 0 0 0 MICHAEL BRYANT TRUSTEE 4.00 X 0 0 0 EDWARD DOLLINGER TRUSTEE 4.00 X 0 0 0 ROBERT ERICKSON TRUSTEE 4.00 X 0 0 0 SCOTT HOLDMAN TRUSTEE 4.00 X 0 0 0 SR MARYANN JERKOFSKY TRUSTEE 4.00 X 0 0 0 REV JAMES LEWIS TRUSTEE 4.00 X 0 0 0 CHERYL MCCARTHY VICE CHAIRPERSON OF THE BOARD 4.00 X X 0 0 0 CAROLINE PORTLOCK TRUSTEE 4.00 X 0 0 0 JOHN PRZYBYLA TRUSTEE 4.00 X 0 0 0 CANDICE ROSEN TRUSTEE 4.00 X 0 0 0 PARAMJIT SINGH SIDHU TRUSTEE 4.00 X 0 0 0 CHERYL STEPNEY TRUSTEE 4.00 X 0 0 0 DANIEL STREITZ TRUSTEE 4.00 X 0 0 0 DAN STEVENSON TRUSTEE 4.00 X 0 0 0 SR FAITH SZAMBELANCZYK TRUSTEE 4.00 X 0 0 0 MEG TORTORELLO TRUSTEE 4.00 X 0 0 0 MICHALE TURK TRUSTEE 4.00 X 0 0 0 PATRICIA WHEELER TRUSTEE 4.00 X 0 0 0 COLLEEN WYSE TRUSTEE 4.00 X 0 0 0 SR MARY JO YOUNG TRUSTEE 4.00 X 0 0 0 DOLORES ZEMONT TRUSTEE 4.00 X 0 0 0 1650618 0 227365 27 0 1 0 SODEXO INC & AFFILIATES 500 WILCOX STREET JOLIET IL 604356169 FOOD SERVICE MANAGEMENTS 1750173 GCA EDUCATION SERVICES OF TEXAS INC 1350 EUCLID AVENUE STE 1500 CLEVELAND OH 441151832 CUSTODIAL SERVICES 482218 RICOH USA INC PO BOX 802815 CHICAGO IL 606802815 SERVICE CONTRACTS-PRINTING/COPYING 282396 ELLUCIAN COMPANY LP 62578 COLLECTION CENTER DRIVE CHICAGO IL 606930625 ERP SYSTEM PROVIDER 280879 JOHANSEN & ANDERSON INC 925 PLAINFIELD RD JOLIET IL 60435 EQUIPMENT MAINTENANCE 280374 12 409844 1031000 1423239 176928 2864083 TUITION AND FEES 611310 66068721 66068721 STUDENT HOUSING AND AUXILIARY ENT 611310 4267913 4262108 5805 70336634 776997 776997 18711612 17614627 19531 1096985 -19531 1077454 1077454 130979 409844 179711 -48732 -48732 FEES FOR ACTIVITIES 900099 5095 5095 125022 125022 130117 75136553 70335924 5805 1930741 25818868 25818868 1343254 166435 1176819 23151293 20763564 2023509 364220 1310762 1053091 226141 31530 3591657 2225272 1316819 49566 1662848 1469473 165504 27871 48283 25725 22558 77675 77675 97200 97200 118083 118083 2460899 1960535 485901 14463 193642 8772 184870 1390556 1112205 242284 36067 546772 287539 259233 1964391 1518668 423380 22343 416601 376492 39969 140 114175 92344 21192 639 880994 777531 101605 1858 4476096 3950426 516230 9440 614838 222606 392232 FOOD EXPENSES 1396677 1338627 50405 7645 FEES 366110 128307 224021 13782 MEMBERSHIPS 311950 172641 137141 2168 PUBLICATIONS 232487 165168 53391 13928 1620938 1138294 482644 74207049 64746858 8744773 715418 570 570 5294132 3188710 2340250 1662811 2208187 2291299 1318525 1105708 392020 424865 110188716 51426853 61950003 58761863 23926626 26997168 2484131 2417142 99914444 96850136 3231092 3110632 3689494 3294356 36638938 35634665 3185941 3494917 46745465 45534570 X 35486294 33794798 17682685 17520768 53168979 51315566 99914444 96850136 X 929504 -1127286 -1655631 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 21815121 717938 485253 410726 22607586 19786925 2396557 73331 441692 21815121 18540413 860556 1050305 664349 19786925 16606052 730014 1572355 368008 18540413 17307753 945084 -578406 504942 17169489 0.40740 0.50130 0.09130 1 0 1500825 5778361 7279186 84290085 36765128 47524957 15759821 12424579 3335242 2859624 2237146 622478 58761863 CAPITAL LEASE OBLIGATIONS 537330 OTHER LIABILITIES 1401400 U.S. GOVERNMENT STUDENT LOAN FUNDS 945480 INTEREST RATE SWAP AGREEMENTS 610707 3494917 X 49403374 4530 199242 203772 49199602 118083 25818868 25936951 75136553 48454339 4530 179711 184241 48270098 118083 25818868 25936951 74207049 PART V, LINE 4: THE INTENDED USES OF THE UNIVERSITY'S ENDOWMENT FUND ARE: SCHOLARSHIPS, PRIZES AND AWARDS, FACULTY DEVELOPMENT AND OTHER PROGRAMS. PART X, LINE 2: THE UNIVERSITY IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) 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. IN ADDITION, THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE UNIVERSITY IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) OF THE IRC. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 179,711. NET LOSS ON PROPERTY SALE 19,531. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FINANCIAL AID 25,818,868. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 179,711. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FINANCIAL AID 25,818,868. PART V, LINE 1A BEGINNING ENDOWMENT BALANCE WAS RESTATED FOR THE FINANCIAL STATEMENTS AS OF JUNE 1, 2016. 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 POLICY IS ONE OF NON-DISCRIMINATION WITH RESPECT TO THE PUBLIC SERVED BY THE INSTITUTION AND WITH RESPECT TO UNIVERSITY PERSONNEL. ADVERTISEMENTS, BROCHURES, PUBLICATIONS, APPLICATION FOR ADMISSIONS, ETC., CONTAIN A STATEMENT TO THE EFFECT THAT THE UNIVERSITY DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, RELIGION, GENDER, GENDER IDENTITY, GENETIC INFORMATION, AGE, NATIONAL ORIGIN, ANCESTRY, MARITAL STATUS, SEXUAL ORIENTATION, HANDICAP, DISABILITY, VETERAN STATUS OR UNFAVORABLE DISCHARGE FROM MILITARY SERVICE. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY APPLIES FOR AND RECEIVES EDUCATIONAL GRANTS, AS APPROVED ON A CASE BY CASE BASIS, FROM FEDERAL AND STATE AGENCIES. THE UNIVERSITY ALSO PARTICIPATES ANNUALLY IN FEDERAL & STATE FINANCIAL AID PROGRAMS, SPECIFICALLY PELL, FSEOG, FEDERAL WORK-STUDY, PERKINS LOANS, FEDERAL DIRECT LOANS, AND VARIOUS STATE OF ILLINOIS SCHOLARSHIP AND GRANT PROGRAMS FOR QUALIFIED STUDENTS (I.E., IL MAP). CANADA 0 0 PROGRAM SERVICES INSTITUTIONAL SUPPORT 4164 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDENT SERVICES 16949 0 0 0 0 0 0 21113 0 21113 0 0 0 0 0 0 PART I, LINE 2: THE UNIVERSITY HAS CONTROLS IN PLACE TO MONITOR THE USE OF ALL GRANT FUNDS AND OTHER ASSISTANCE. THE UNIVERSITY WORKED WITH A FOREIGN AGENCY DURING THE TAX YEAR TO HELP THE UNVIERSITY RECRUIT STUDENTS FROM FOREIGN COUNTRIES. PART III ACCOUNTING METHOD: X X X X X X X 1 MCALLISTER & QUINN LLC 1368 N WASHINGTON AVE SCRANTON PA 185092844 FUNDRAISING CONSULTING 0 1047666 97200 950466 1047666 97200 950466 IL CARITAS SCHOLARSHIP BALL 426206 327926 98280 52783 9000 61598 BROWN & GOLD DINNER 71930 56446 15484 712 13237 20000 3614 1 42687 25472 17215 10348 6067 2352 540823 409844 130979 11060 72087 29000 67564 179711 -48732 1 SCHOLARSHIPS & GRANTS 1828 25818868 PART I, LINE 2: THE UNIVERSITY HAS CONTROLS IN PLACE TO MONITOR THE USE OF ALL GRANT FUNDS. THE UNIVERSITY PROVIDES SCHOLARSHIPS AND GRANTS TO STUDENTS MATRICULATING AT THE UNIVERSITY. THE DEVELOPMENT AND FINANCIAL AID DEPARTMENTS REVIEW OVERALL USE OF SCHOLARHSIP AND OTHER GRANT FUNDS TO ENSURE THAT THE RECIPIENTS ARE ELIGIBLE TO RECEIVE THE FUNDS. ALL FUNDS ISSUED TO THE STUDENTS ARE REQUIRED TO DEFRAY THE COST OF TUITION, ROOM AND BOARD. SINCE THE STUDENTS HAVE NO DISCRETION IN THE USE OF THE FUNDS, THE UNIVERSITY HAS NO NEED TO MONITOR THE GRANTS ONCE THEY ARE ISSUED. X X X X X X 0 0 0 0 0 0 0 0 0 ARVID JOHNSON SECRETARY & UNIVERSITY PRESIDENT 335344 0 0 0 95600 0 34883 0 31967 0 497794 0 0 0 JULEE GARD TREASURER AND VP OF ADMIN & FINANCE 192667 0 0 0 360 0 9633 0 0 0 202660 0 0 0 TERRANCE COTTRELL VP FOR OPERATIONS & IT 163617 0 0 0 220 0 15542 0 0 0 179379 0 0 0 JOHN GAMBRO DEAN OF COLLEGE OF EDUCATION 142260 0 0 0 876 0 14650 0 18387 0 176173 0 0 0 FRANK PASCOE PROVOST AND ACADEMIC VP 154572 0 0 0 2544 0 15457 0 0 0 172573 0 0 0 BRUCE FOOTE EXECUTIVE DIRECTOR OF FINANCIAL AID 109904 0 0 0 910 0 10990 0 44590 0 166394 0 0 0 ORLANDO GRIEGO DEAN COLLEGE OF BUS & HEALTH ADMIN 149826 0 0 0 1277 0 7043 0 4325 0 162471 0 0 0 ROBERT BEHLING PROFESSOR COBHA 145398 0 0 0 1902 0 11617 0 768 0 159685 0 0 0 KRISTIN SHORT VP FOR UNIVERSITY ADVANCEMENT 150250 0 0 0 316 0 7513 0 0 0 158079 0 0 0 A ILLINOIS FINANCE AUTHORITY 861091967 NONEAVAIL 2013-06-17 24248000 SEE SCHEDULE K, PART VI 0 0 0 B ILLINOIS FINANCE AUTHORITY 861091967 NONEAVAIL 2016-02-23 15000000 THE PLANNING, DESIGNING, ACQUIRING, CONSTRUCTING, RENOVATING, EQUIPPING, FUR 0 0 0 C ILLINOIS FINANCE AUTHORITY 861091967 NONEAVAIL 2020-04-01 36075000 SEE SCHEDULE K, PART VI 0 0 0 A 24248000 245436 24002564 2013 1 0 1 1 B 15000000 164289 14835711 2017 0 0 1 1 C 36075000 306516 35838479 2020 1 0 1 1 A 0 0 1 1 0 0.01000 0.01000 0 0 1 B 0 0 1 1 0 0.01000 0.01000 0 0 1 C 0 0 1 1 0 0.01000 0.01000 0 0 1 A 0 1 1 1 1 1 SEE SCHEDULE K PART IV 7.100000000000 0 0 0 0 1 B 0 1 1 1 1 1 PNC BANK NATIONAL ASSOCIAITON 10.000000000000 0 0 0 0 1 C 0 1 1 1 1 1 WINTRUST BANK 10.000000000000 0 0 0 0 1 A 1 B 1 C 1 SCHEDULE K, PART I, LINE A, COLUMN F - PURPOSE OF THE BOND: THE PROCEEDS OF THE ISSUE WERE DEPOSITED INTO ESCROW ON 6/17/13, AND THEN WERE ENTIRELY SPENT ON 6/18/13 TO (I) CURRENTLY REFUND THE OUTSTANDING $13,380,000 BALANCE OF THE COUNTY OF WILL, ILLINOIS ADJUSTABLE RATE DEMAND REVENUE BONDS ISSUED IN 2005; (II) CURRENTLY REFUND THE OUTSTANDING $11,370,000 BALANCE OF THE COUNTY OF WILL, ILLINOIS TAX-EXEMPT VARIABLE RATE DEMAND REVENUE BONDS ISSUED IN 2007; AND (III) FUND COSTS ASSOCIATED WITH THE ISSUANCE OF THE BOND. SCHEDULE K, PART IV, LINE 2C, COLUMN A THE LAST DATE A REBATE CALCULATION WAS PERFORMED FOR THIS BOND ISSUE WAS 6/30/13. SCHEDULE K, PART IV, LINE 4B, COLUMN A NORTH SHORE COMMUNITY BANK & TRUST COMPANY PATRICIA PASCOE FAMILY OF KEY EMPLOYEE 103521 THE UNIVERSITY EMPLOYS PATRICIA PASCOE WHO IS AN INTERESTED PERSON DUE TO HER FAMILY RELATIONSHIP WITH A KEY EMPLOYEE OF THE UNIVERSITY. 0 X 7 144493 MARKET VALUE STOCK QUOTE X AUCTION ITEMS 107 32210 ACTUAL COST X FOOD, FURNITURE, AND SUPPLIES 3 225 FMV 0 0 1 1 PART I, LINE 32B: WHEN THE UNIVERSITY RECEIVES A STOCK GIFT, THE DEVELOPMENT OFFICE REFERS THE DONOR TO THE UNIVERSITY'S THIRD-PARTY BROKER. DONATED STOCK IS SOLD IMMEDIATELY BY A BROKER AND THE BROKER SENDS THE UNIVERSITY THE NET PROCEEDS FROM THE SALE. FORM 990, PART VI, SECTION B, LINE 11B A REVIEW WAS CONDUCTED PRIOR TO FILING THE 990 WITH THE IRS. THE DIRECTOR OF ACCOUNTING AND OTHERS IN BUSINESS AFFAIRS GATHER ALL INFORMATION FROM VARIOUS AREAS OF THE UNIVERSITY AND SUBMIT THE INFORMATION TO EXTERNAL TAX PROFESSIONALS TO PREPARE THE FIRST DRAFT OF THE 990. THE DIRECTOR OF ACCOUNTING THEN REVIEWS THE DRAFT AND MAKES ANY NECESSARY CORRECTIONS AND CHANGES. THE SECOND DRAFT WAS REVIEWED BY THE VICE PRESIDENT FOR ADMINISTRATION AND FINANCE AND THE PRESIDENT OF THE UNIVERSITY. AGAIN, UPDATES AND CHANGES WERE MADE IF NECESSARY. A FINAL DRAFT WAS SENT VIA EMAIL TO ALL VOTING BOARD MEMBERS FOR THEIR REVIEW AND ACCEPTANCE. IF ANY CHANGES WERE REQUIRED AFTER BOARD REVIEW, THEY WERE SENT TO THE TAX PROFESSIONALS FOR INCORPORATION INTO THE FINAL FORM 990. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST DISCLOSURE STATEMENTS ARE SENT TO EACH BOARD MEMBER EACH SUMMER. ALL BOARD MEMBERS ARE EXPECTED TO RETURN THE CONFLICT OF INTEREST DISCLOSURE STATEMENTS TO THE EXECUTIVE ASSISTANT TO THE PRESIDENT AT THE FALL BOARD MEETING, IF NOT SOONER. A PROCESS HAS BEEN ESTABLISHED TO FOLLOW UP WITH ANY MEMBERS WHO HAVE NOT RETURNED THE CONFLICT OF INTEREST DISCLOSURE STATEMENT WITHIN THE GIVEN PARAMETERS. THE UNIVERSITY MONITORS CONFLICTS OF INTEREST BY SENDING OUT A QUESTIONNAIRE ANNUALLY. IN ADDITION, CONFLICTS ARE MONITORED AT EVERY MEETING A QUESTION REGARDING CONFLICTS IS RAISED. IF A CONFLICT ARISES, THE BOARD MEMBER RECUSES HIMSELF/HERSELF FROM PARTICIPATING IN THE GOVERNING BODY'S DELIBERATIONS AND ACTIONS ON THE TOPIC OR TRANSACTION UNDER CONSIDERATION. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES FUNCTIONS AS THE COMPENSATION COMMITTEE AND IS RESPONSIBLE FOR DETERMINING THE PRESIDENT'S SALARY AND BENEFITS. THE COMPENSATION COMMITTEE WORKS WITH HUMAN RESOURCES, THE PRESIDENT, AND OUTSIDE CONSULTANTS (AS NEEDED) TO OBTAIN COMPARABLE SALARY AND BENEFIT DATA FROM ORGANIZATIONS SUCH AS THE COLLEGE AND UNIVERSITY PERSONNEL ASSOCIATION (CUPA), IN ORDER TO ESTABLISH APPROPRIATE SALARY AND BENEFITS PACKAGES. THE COMPENSATION COMMITTEE CONSISTS OF THE CHAIRPERSON OF THE BOARD OF TRUSTESS AND THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTESS, WHO ARE NOT RELATED TO THE PRESIDENT AND DO NOT PERFORM MANAGEMENT-DIRECTED SERVICES TO THE UNIVERSITY. THE PRESIDENT OF THE UNIVERSITY HAS A MULTI-YEAR CONTRACT, PERFORMANCE AGAINST WHICH IS REVIEWED ANNUALLY TO DETERMINE IF ALL OBJECTIVES HAVE BEEN SATISFIED. THE PRESIDENT OF THE UNIVERSITY - UPON CONSULTATION WITH THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES - IS RESPONSIBLE FOR DETERMINING THE COMPENSATION OF THE PRESIDENT'S DIRECT REPORTS AND THE ACADEMIC DEANS AND WORKS WITH HUMAN RESOURCES TO OBTAIN COMPARABLE SALARY AND BENEFITS DATA FROM ORGANIZATIONS SUCH AS CUPA. ALL COMPENSATION DECISIONS ARE CONTEMPORANEOUSLY DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST. THE AUDITED FINANCIAL STATEMENTS AND PUBLIC DISCLOSURE COPIES OF THE IRS FORM 990 AND 990-T ARE AVAILABLE TO THE PUBLIC AT THE UNIVERSITY OF ST. FRANCIS' WEBSITE, WWW.STFRANCIS.EDU. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENT -610,707. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 66,131. LOSS ON EXTINGUISHMENT OF DEBT -1,111,055. SISTERS OF ST FRANCIS OF MARY IMMACULATE 1433 ESSINGTON JOLIET IL 60435 362764900 RELIGIOUS ORDER IL 501(C)(3) LINE 1 N/A 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1