2020-05-01T14:58:04-05:00 2019-06-30 363168081 SIKICH LLP 3201 W WHITE OAKS DR STE 102 SPRINGFIELD IL 62704 990 2018-07-01 370661491 BLACKBURN UNIVERSITY BLAC 2178543231 700 COLLEGE AVENUE NO 1 CARLINVILLE IL 62626 STEVE MORRIS VP ADMIN & FINANCE 2178543231 2020-04-13 1 JILL M BOYLE CPA P01246734 2177933363 2020-04-13 104.231.245.211 2020-04-13 19:25:26 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 D845358BABF1F13643AFD2AEE4BA53C7EABFA55A 2018 2020-11-19 02:30:22Z BLACKBURN COLLEGE DR JOHN MCCLUSKY 700 COLLEGE AVENUE NO 1 CARLINVILLE IL 62626 18281022 0 X WWW.BLACKBURN.EDU X UNIVERSITY 1837 IL COMBINE LIBERAL ARTS EDUCATION & WORK PROGRAM TO PREPARE GRADUATES FOR CAREERS AND LIFELONG LEARNING. 26 26 583 35 0 -2168 3583473 2921572 14368890 14422015 430294 481872 375339 332248 18757996 18157707 4322143 4759171 0 0 10270142 10185588 0 0 583812 5248801 5583318 19841086 20528077 -1083090 -2370370 60680234 61303011 7091136 6295985 53589098 55007026 BLACKBURN COLLEGE LINKS A RIGOROUS AND AFFORDABLE LIBERAL ARTS EDUCATION WITH A UNIQUE STUDENT-MANAGED WORK PROGRAM PREPARING GRADUATES FOR CAREERS, COMMUNITIES, AND LIFELONG LEARNING. 0 0 16750414 4759171 14752852 ACADEMIC PROGRAMS - 566 STUDENTS SERVED DURING THE FALL SEMESTER 2018; 490 STUDENTS SERVED DURING THE SPRING SEMESTER 2019. 16750414 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 42 0 583 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 26 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X DAWN SHRYOCK 2178542321 700 COLLEGE AVE CARLINVILLE IL 62626 JEROME ADAMS TRUSTEE 1.00 X 0 0 0 JIM ALLEN TRUSTEE 1.00 X 0 0 0 DAN ANDERSON TRUSTEE 1.00 X 0 0 0 LISA BLACK-GOMEZ TRUSTEE 1.00 X 0 0 0 LOIS DEFLEUR TRUSTEE 1.00 X 0 0 0 KENNETH DEIHL TRUSTEE 1.00 X 0 0 0 DEANNA DEMUZIO TRUSTEE 1.00 X 0 0 0 DAVID DORRIS TRUSTEE 1.00 X 0 0 0 JAMES FAUST TRUSTEE 1.00 X 0 0 0 FRAN GOODMAN TRUSTEE 1.00 X 0 0 0 CINDY GRAU TRUSTEE 1.00 X 0 0 0 JENNIFER HAMILTON EXECUTIVE COMMITTEE MEMBER BOT 1.00 X 0 0 0 TOM HEINZ TRUSTEE 1.00 X 0 0 0 ROCHELLE HENDERSON TRUSTEE 1.00 X 0 0 0 CYNTHIA LAMAR TRUSTEE 1.00 X 0 0 0 THOMAS LOCASCIO TRUSTEE 1.00 X 0 0 0 CRESS MADDOX SECRETARY BOT 1.00 X X 0 0 0 GEORGE MALO TRUSTEE 1.00 X 0 0 0 STANLEY PILLMAN EXECUTIVE COMMITTEE MEMBER BOT 1.00 X 0 0 0 GEORGE PRECKWINKLE TRUSTEE 1.00 X 0 0 0 SARAH ROBISON TRUSTEE 1.00 X 0 0 0 JAMES SANDFORT TRUSTEE 1.00 X 0 0 0 JENNIFER SHELBY TRUSTEE 1.00 X 0 0 0 MICHAEL SMILEY CHAIR BOT 1.00 X X 0 0 0 PAUL TEPIKIAN VICE CHAIR BOT 1.00 X X 0 0 0 MADONNA TIDEMAN TRUSTEE 1.00 X 0 0 0 JOHN COMERFORD PRESIDENT (END 6/30/18) 50.00 X 119888 0 20081 JENNIFER BRAATEN INTERIM PRESIDENT 50.00 X 115570 0 12417 JULIE MURRAY-JENSEN PRESIDENT (BEG 1/2/19) 50.00 X 0 0 0 JOHN MCCLUSKY PROVOST 50.00 X 139185 0 10435 STEVE MORRIS VP ADMIN & FINANCE 50.00 X 136407 0 23398 LAUREN DODGE VP INSITUTIONAL ADVANCEMENT 50.00 X 115000 0 6572 626050 0 72903 5 0 1 0 SODEXO INC & AFFILIATES 4880 PAYSPERE CIRCLE CHICAGO IL 60674 FOOD SERVICES 887147 JP BURNS EXCAVATING 9287 BURNS ROAD PLAINVIEW IL 62685 GENERAL CONTRACTOR 183587 SANDBERG PHOENIX & VON GUNTARD PO BOX 790051 ST LOUIS MO 631790051 LEGAL COUNSEL 117034 3 1161657 1759915 2921572 TUITION & FEES 611600 11645729 11645729 AUXILLARY ENTERPRISES 611600 2776286 2776286 14422015 479990 479990 1411 1411 244801 16626 228175 228175 228175 6372 0 4490 6372 -4490 1882 1882 126738 102199 24539 24539 OTHER INCOME 611600 78123 78123 78123 18157707 14752852 0 483283 4759171 4759171 701860 570004 88960 42896 8154775 6681297 1114447 359031 874071 654435 191700 27936 454882 368597 58378 27907 63933 63933 962602 433217 496868 32517 23772 9725 14047 534604 440673 92506 1425 204970 173840 31130 218696 218696 1169060 868511 300549 158105 55712 102393 FOOD & HEALTH SERVICES 785100 771556 9435 4109 EQUIPMENT & SUPPLIES 564806 440985 123821 REPAIRS & MAINTENANCE 181107 143170 37937 MEMBERSHIPS & DUES 142088 39864 99909 2315 574475 339657 180272 54546 20528077 16750414 3193851 583812 266548 246442 16532 16294 266027 57702 392581 435526 51002 51096 87043 133356 44030655 16800943 27206102 27229712 384457 383621 31135167 28404329 874775 4344933 60680234 61303011 964354 807871 11003 900 4578720 5090996 1020000 0 517059 396218 7091136 6295985 X 32715946 31815611 5216895 0 15656257 23191415 53589098 55007026 60680234 61303011 X -2370370 1188378 2568480 31440 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 26605952 344067 1721539 3719204 160890 24791464 22074568 648814 1647736 921000 80860 23369258 19405253 1302257 2345588 743842 234688 22074568 15357641 5544540 183368 353469 1927572 18804508 15640918 774518 732217 1790012 15357641 0.16960 0.83040 0 0 14900 14900 39081412 15062798 24018614 4509732 1738145 2771587 424611 424611 27229712 REAL ESTATES HELD FOR INVESTMENT - FARM LAND 7227264 F COMMONFUND: MULTI STRATEGY EQUITY FUND 13912270 F COMMONFUND: MULTI STRATEGY BOND FUND 6833496 F CAPITAL PARTNERS VI, LP 197418 F CAPITAL PARTNERS VII, LP 167067 F MERRIL LYNCH ST INVESTMENT 19560 F LIFE INSURANCE 45704 F OTHER INVESTMENTS 1550 F 28404329 BENEFICIAL INTEREST IN PERPETUAL TRUSTS 3490690 FARMLAND HELD FOR SALE 854243 4344933 SPLIT INTEREST AGREEMENTS 222415 PERKINS LOAN PROGRAM 65433 CAPITAL LEASES PAYABLE 32053 DEPOSITS HELD IN CUSTODY FOR OTHERS 76317 396218 X 14656620 1188378 133639 1322017 13334603 63933 4759171 4823104 18157707 15807172 102199 102199 15704973 63933 4759171 4823104 20528077 PART V, LINE 4: TO PROVIDE FOR SCHOLARSHIP FUNDS AND AWARDS FOR BLACKBURN STUDENTS AND FOR ONGOING MAINTENANCE AND UPKEEP OF THE BLACKBURN CAMPUS. PART X, LINE 2: THE COLLEGE IS A NOT-FOR-PROFIT ENTITY AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE IRC AND SIMILAR PROVISIONS OF THE STATE TAX CODE. THE COLLEGE IS NOT CLASSIFIED AS A PRIVATE FOUNDATION. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD - BOOKSTORE 102,199. CHANGES IN SPLIT-INTEREST AGREEMENT -9,623. CHANGES IN VALUE OF INTEREST IN PERPETUAL TRUST 41,063. PART XI, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL GRANTS 4,759,171. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD - BOOKSTORE 102,199. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL GRANTS 4,759,171. PART V, LINE 1A - CURRENT YEAR A PRIOR PERIOD ADJUSTMENT OF $3,236,694 WAS MADE TO THE ENDOWMENT FUND AS REFLECTED IN THE UPDATED BEGINNING BALANCE. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 BLACKBURN'S NONDISCRIMINATORY POLICY IS PUBLISHED ON THE SCHOOL'S WEBSITE, IN THE SCHOOL'S COURSE CATALOG, AND IN THE STUDENT HANDBOOK. SCHEDULE E, PART I, LINE 6 FINANCIAL AID OR ASSISTANCE FROM GOVERNMENTAL AGENCIES: FEDERAL WORK COLLEGE $1,044,874 FEDERAL SEOG $53,260 OTHER GRANTS $12,092 1 SCHOLARSHIPS 560 4759171 PART I, LINE 2: INSTITUTIONAL GRANTS ARE OFFERED TO ATTRACT AND RETAIN STUDENTS. DISBURSEMENTS ARE MADE IN ACCORDANCE WITH PROCEDURES OR ARE SUBJECT TO CONDITIONS ESTABLISHED BY THE COLLEGE'S GOVERNING BOARD DESIGNED TO ENSURE THAT INDIVIDUALS AND ORGANIZATIONS RECEIVING DISBURSEMENTS FROM THE COLLEGE, IN FURTHERANCE OF ITS EXEMPT PROGRAMS, ARE ADEQUATELY INVESTIGATED TO ENSURE THAT THEY ARE QUALIFYING RECIPIENTS. STUDENTS RECEIVING SCHOLARSHIPS AND FELLOWSHIPS ARE JUDGED WORTHY BY THE COLLEGE'S ASSESSMENT ON THE BASIS OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED, AND OTHER SIMILAR STANDARDS. X X X X X 1 1 X X 0 0 0 0 0 0 0 0 0 STEVE MORRIS VP ADMIN & FINANCE 136407 0 0 0 0 0 10230 0 13168 0 159805 0 0 0 PART I, LINE 1A THE PRESIDENT'S CONTRACT DETAILS THE VARIOUS PERSONAL SERVICES TO BE PAID ON HIS BEHALF. A CENTRAL ILLINOIS ECONOMIC DEVELOPMENT AUTHORITY 273234464 2015-05-29 5000000 SEE PART VI 0 0 0 B CENTRAL ILLINOIS ECONOMIC DEVELOPMENT AUTHORITY 273234464 2018-08-31 4000000 SEE PART VI 0 0 0 A 5000000 5000000 2016 1 0 1 1 B 724021 0 0 0 0 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 0 1 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 A 0 B 0 SCHEDULE K, PART I, LINE A, COLUMNS (E) AND (F) ON JULY 1, 1999, THE COLLEGE ENTERED INTO AN AGREEMENT TO BORROW $5,000,000 OF THE PROCEEDS OF BONDS ISSUED BY THE ILLINOIS EDUCATIONAL FACILITIES AUTHORITY THROUGH PNC BANK. ON MAY 29, 2015, THE COLLEGE REFINANCED THE BOND ISSUANCE WITH THE BLACKBURN UNIVERSITY PROJECT REVENUE BOND, SERIES 2015 WITH UNITED COMMUNITY BANK. THE BONDS BEAR INTEREST AT A RATE OF INTEREST PER ANNUM INITIALLY EQUAL TO 2.96% FOR TEN YEARS, AND THEREAFTER, SUBJECT TO ADJUSTMENTS TO A RATE OF INTEREST PER ANNUM EQUAL TO THE FIVE-YEAR RATE PLUS 1.75% ON EACH ADJUSTMENT DATE. THE BONDS MATURE ON JULY 1, 2029, WITH AN OPTIONAL "TAKE OUT" LOAN TO EXTEND THE MATURITY DATE TO JUNE 1, 2035. THE BONDS ARE COLLATERALIZED BY A MORTGAGE DATED MAY 1, 2015, ASSIGNMENT OF RENTS AND PROFITS, AND A SECURITY AGREEMENT. DURING 2016, THE COLLEGE TOOK AN ADDITIONAL DRAW OF $1,123,580, THE PROCEEDS OF WHICH WERE REQUIRED TO BE SPENT ON CAPITAL PROJECTS. SCHEDULE K, PART I, LINE B, COLUMNS (E) AND (F) ON AUGUST 31, 2018 THE COLLEGE SIGNED A BOND PURCHASE AGREEMENT WITH UNITED COMMUNITY BANK THAT PROVIDES CENTRAL ILLINOIS ECONOMIC DEVELOPMENT AUTHORITY PROJECT REVENUE BOND (BLACKBURN UNIVERSITY PROJECT), SERIES 2018 IN THE AMOUNT OF $4,000,000. THE BOND CARRIES A FIXED INTEREST RATE OF 3.63% SUBJECT TO ADJUSTMENT ON SEPTEMBER 1, 2028 AND SEPTEMBER 1, 2033 AT A RATE EQUAL TO THE MOST RECENT TREASURY RATE PLUS 1.50% AND IS SECURED BY REAL ESTATE LOCATED IN MACOUPIN COUNTY. MONTHLY PAYMENTS COMMENCE OCTOBER 1, 2018 AND THE BOND MATURES SEPTEMBER 1, 2038. THE COLLEGE RECEIVED ADVANCES TOTALING $591,578 AT SIGNING AND A SECOND DISTRIBUTION OF $134,072 ON JUNE 26, 2019, FOR REIMBURSEMENT OF ADDITIONAL PROJECT COSTS. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF TRUSTEES RECEIVES A COPY OF THE FORM 990 PRIOR TO SUBMISSION FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY SET IN PLACE AND TRUSTEE AND KEY EMPLOYEES MUST FILL OUT A DISCLOSURE FORM ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 TOP MANAGEMENT SALARY WAS APPROVED BY THE BOARD OF TRUSTEES INITIALLY AND ADJUSTMENTS TO SALARY ARE APPROVED BY THE BOARD ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN SPLIT-INTEREST AGREEMENT -9,623. CHANGE IN VALUE OF INTEREST IN PERPETUAL TRUST 41,063.