2020-05-21T08:55:09-05:00 2019-06-30 410746749 CLIFTONLARSONALLEN LLP 4505 STEPHEN CIRCLE NW STE 200 CANTON OH 44718 990 2018-07-01 340868798 WALSH UNIVERSITY INC WALS 3304997090 2020 EAST MAPLE ST NORTH CANTON OH 447203396 LAUREL LUSK VP FINANCE & BUSINESS AFFAIRS 3302444762 2020-05-12 1 LISA HILLING P01624111 3304972000 67.137.57.251 2020-05-12 09:46:03 ED P 1CC97E19E024F450F17B6EFDB094B1F77DAAE223 B78854EE20A5AAAEA57700933C1E697C4E2B71FA 2018 2021-01-29 14:40:06Z DR TIMOTHY COLLINS 2020 EAST MAPLE ST NORTH CANTON OH 447203396 92132545 0 X WWW.WALSH.EDU X 1958 OH TO EDUCATE STUDENTS TO BECOME LEADERS IN SERVICE TO OTHERS THROUGH A VALUES-BASED EDUCATION. 34 31 1674 310 0 0 3941689 3412043 74734436 76581642 1675623 1219605 1179791 1164120 81531539 82377410 29973077 31951528 0 0 29171005 29895007 0 0 980029 19959128 19601168 79103210 81447703 2428329 929707 116264310 115538855 22732837 21426366 93531473 94112489 X WALSH UNIVERSITY IS AN INDEPENDENT, COEDUCATIONAL CATHOLIC, LIBERAL ARTS AND SCIENCES INSTITUTION DEDICATED TO EDUCATING ITS STUDENTS TO BECOME LEADERS IN SERVICE TO OTHERS THROUGH A VALUES-BASED EDUCATION WITH AN INTERNATIONAL PERSPECTIVE IN THE JUDEO-CHRISTIAN TRADITION. 0 0 72866290 31951528 76581642 THE UNIVERSITY PROVIDES APPROXIMATELY 2,700 STUDENTS FROM 40 STATES AND 35 COUNTRIES A HIGHER EDUCATION THAT FOSTERS CRITICAL THINKING, EFFECTIVE COMMUNICATION, SPIRITUAL GROWTH, AND PERSONAL, PROFESSIONAL AND CULTURAL DEVELOPMENT. THE UNIVERSITY OFFERS THE FOLLOWING DEGREES: ASSOCIATE OF ARTS; ASSOCIATE OF SCIENCE IN COMPUTER SCIENCE; BACHELOR OF ARTS; BACHELOR OF SCIENCE; BACHELOR OF SCIENCE IN EDUCATION; BACHELOR OF SCIENCE IN NURSING; MASTER OF ARTS IN EDUCATION; MASTER OF BUSINESS ADMINISTRATION (MBA); MASTER OF ARTS IN COUNSELING AND HUMAN DEVELOPMENT; MASTER OF ARTS IN THEOLOGY; MASTER OF SCIENCE IN NURSING; MASTER OF OCCUPATIONAL THERAPY; DOCTOR OF NURSING PRACTICE; AND DOCTOR OF PHYSICAL THERAPY.(CONTINUED ON SCHEDULE O)(CONTINUED FROM FORM 990, PART III, LINE 4A) WALSH UNIVERSITY IS ACCREDITED BY THE FOLLOWING ORGANIZATIONS: NORTH CENTRAL ASSOCIATION/HIGHER LEARNING COMMISSION; NATIONAL LEAGUE FOR NURSING ACCREDITING COMMISSION; THE COMMISSION ON ACCREDITATION IN PHYSICAL THERAPY EDUCATION; COUNCIL FOR ACCREDITATION OF COUNSELING AND RELATED EDUCATIONAL PROGRAMS; OHIO DEPARTMENT OF EDUCATION; OHIO BOARD OF COUNSELING & SOCIAL WORK; AND THE AMERICAN PHYSICAL THERAPY ASSOCIATION.WALSH UNIVERSITY'S LIBRARY HOUSES 104,351 VOLUMES, 61 PAPER SUBSCRIPTIONS, 3,936 AUDIO VISUAL TITLES ON PHYSICAL MEDIA, 48,425 STREAMING EDUCATIONAL VIDEOS, AND 160 ELECTRONIC DATABASES. THE UNIVERSITY ALSO HAS LINKS TO 321,494 ELECTRONIC BOOKS, AND 115,404 PAID ELECTRONIC JOURNAL SUBSCRIPTIONS. THE WALSH LIBRARY IS A MEMBER OF OCLC, OHIOLINK, OHIONET AND OPAL (OHIO PRIVATE ACADEMIC LIBRARIES) AND ALL LIBRARY RESOURCES ARE SEARCHABLE THROUGH THE INTERNET.THE STUDENT AFFAIRS TEAM IS A DIVERSE COLLECTION OF EDUCATORS COMMITTED TO THE HOLISTIC DEVELOPMENT OF STUDENTS, FIRMLY BELIEVING THAT ALL STUDENTS HAVE THE POTENTIAL TO BECOME VALUABLE ASSETS TO OUR WORLD COMMUNITY. MEMBERS OF THE STUDENT AFFAIRS TEAM EMBODY THE CHRISTIAN VALUES ESPOUSED IN THE UNIVERSITY MISSION STATEMENT, ENFLESHED BY OUR CARE AND CONCERN FOR STUDENTS, RELATIONSHIPS, AND THE COMMUNITY. WALSH UNIVERSITY PROVIDES OVER 1000 STUDENTS WITH HOUSING AND DINING SERVICES. SEVERAL OF THE TEN RESIDENCE HALLS ARE NEWLY CONSTRUCTED AND OFFER APARTMENT-STYLE AND SUITE-STYLE LIVING. DINING SERVICE FACILITIES INCLUDE THE SCHERVISH DINING HALL, THE BETZLER GRILLE, THE CAVALIER CAFE AND THE C-STORE OFFERING VARIOUS MEAL PLAN SELECTIONS AND DINING INNOVATIONS.WALSH UNIVERSITY'S ATHLETIC PROGRAM OFFERS 22 DIFFERENT MEN'S AND WOMEN'S ATHLETIC TEAMS AND CONTINUES TO ENJOY A WINNING TRADITION. WHILE IN THE NAIA, WALSH WON THE AMERICAN MIDEAST CONFERENCE (AMC) ALL-SPORTS AWARD AND NUMEROUS SPORTS CONFERENCE CHAMPIONSHIPS. WHILE STILL A MEMBER OF THE AMERICAN MIDEAST CONFERENCE THE CAVS PRODUCED CHAMPIONS IN MEN'S SOCCER, MEN'S BASKETBALL, MEN AND WOMEN'S TRACK, VOLLEYBALL AND SOFTBALL. WALSH UNIVERSITY ATHLETICS WERE GRANTED FULL MEMBERSHIP INTO THE NCAA DIVISION II AT THE BEGINNING OF THE 2013-2014 ACADEMIC YEAR. AS FULL MEMBERS OF THE GREAT MIDWEST ATHLETIC CONFERENCE (G-MAC) 20 OF OUR NCAA SPORTS COMPETE FOR G-MAC CONFERENCE CHAMPIONSHIPS WHILE TWO (WOMEN'S AND MEN'S BOWLING) ARE NOT SPONSORED BY THE CONFERENCE.DURING FISCAL YEAR 2019, THE UNIVERSITY COMPLETED THE RENOVATIONS OF THE TWO OLDEST RESIDENCE HALLS ON CAMPUS. INCLUDED IN THE RENOVATIONS ARE NEW FLOORING, PAINTING, ELECTRICAL AND PLUMBING WORK. RENOVATIONS WERE COMPLETE PRIOR TO THE START OF THE FALL SEMESTER TO WELCOME STUDENTS BACK TO CAMPUS.THE UNIVERSITY BEGAN SEVERAL PROJECTS DURING THE FISCAL YEAR 2019 INCLUDING A REMODELING OF THE RAMBO ADMISSIONS CENTER, THE CREATION OF THE BYERS SCHOOL OF NURSING INTENSIVE CARE UNIT SIMULATION LAB THAT WILL HOUSE AN ISTAN PATIENT SIMULATOR, AND AN UPGRADE TO THE UNIVERSITY'S WEBSITE.WALSH UNIVERSITY HAS BEEN CONSISTENTLY RECOGNIZED FOR ITS EXCELLENCE IN ACADEMIC AND STUDENT-FOCUSED PROGRAMMING BY RENOWNED ORGANIZATIONS SUCH AS THE NEWMAN GUIDE TO CHOOSING A CATHOLIC COLLEGE, NATIONAL COLLEGES OF DISTINCTION, U.S. NEWS & WORLD REPORT AS A TOP REGIONAL UNIVERSITY IN THE MIDWEST AND BY VICTORY MEDIA AS A MILITARY FRIENDLY SCHOOL. 72866290 1 1 0 0 0 1 0 1 0 1 1 1 0 0 1 0 1 0 1 1 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 104 0 1674 1 0 1 IT 0 0 0 1 1 0 0 0 0 0 0 X 34 31 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 0 0 X LAUREL LUSK VP FOR FINANCE & BUSINESS AFFAIRS 3302444762 WALSH UNIVERSITY INC NORTH CANTON OH 447203396 JUDGE SARA LIOI CHAIR 2.00 X X 0 0 0 E JEFFREY ROSSI VICE CHAIR 2.00 X X 0 0 0 BRUCE ALTIERI DIRECTOR 2.00 X 0 0 0 ISABELLE BIBET-KALINYAK DIRECTOR 2.00 X 0 0 0 BENJAMIN BIERY DIRECTOR 2.00 X 0 0 0 BROTHER LEVI BOUDREAU DIRECTOR 2.00 X 0 0 0 TERESA BRATELY DIRECTOR 2.00 X 0 0 0 MSGR JAMES CLARKE DIRECTOR 2.00 X 0 0 0 FRANK D'ANGELO DIRECTOR 2.00 X 0 0 0 RON DEES DIRECTOR 2.00 X 0 0 0 JACQUELINE DEGARMO DIRECTOR 2.00 X 0 0 0 BRO CHARLES DESJARLAIS DIRECTOR 2.00 X 0 0 0 ROGER DEVILLE DIRECTOR 2.00 X 0 0 0 GARY DIDADO DIRECTOR 2.00 X 0 0 0 DENISE DOMIAN DIRECTOR 2.00 X 0 0 0 TIMOTHY FAUTSKO DIRECTOR 2.00 X 0 0 0 PHILIP FRACASSA DIRECTOR 2.00 X 0 0 0 RAMONA HOOD DIRECTOR 2.00 X 0 0 0 AJ HYLAND DIRECTOR 2.00 X 0 0 0 EDWARD A MAHONEY DIRECTOR 2.00 X 0 0 0 DAVID MCCAULEY DIRECTOR 2.00 X 0 0 0 CAROL MILLER DIRECTOR 2.00 X 0 0 0 BISHOP GEORGE MURRY DIRECTOR 2.00 X 0 0 0 RICHARD REICHERT DIRECTOR 2.00 X 0 0 0 CHRISTOPHER REMARK DIRECTOR 2.00 X 0 0 0 ED ROBINSON DIRECTOR 2.00 X 0 0 0 PAUL L RUFLIN DIRECTOR 2.00 X 0 0 0 THEODORE STULTS DIRECTOR 2.00 X 0 0 0 FR JAMES SULLIVAN DIRECTOR 2.00 X 0 0 0 TED SWALDO DIRECTOR 2.00 X 0 0 0 MARLENE TOOT DIRECTOR 2.00 X 0 0 0 BARBARA YINGLING DIRECTOR 2.00 X 0 0 0 CARL YOUNG DIRECTOR 2.00 X 0 0 0 BRO WALTER ZWIERCHOWSKI DIRECTOR 2.00 X 0 0 0 RICHARD L JUSSEAUME PRESIDENT 40.00 X 512288 0 66540 DOUGLAS PALMER SECRETARY/VP FOR ACADEMIC AFFAIRS 40.00 X 130245 0 28656 LAUREL LUSK TREASURER/VP FOR FINANCE 40.00 X 90084 0 7154 MICHELLE BROWN TREASURER/VP FOR FINANCE (FORMER) 40.00 X 167179 0 25793 DALE HOWARD VP FOR ATHLETICS 40.00 X 129075 0 32398 ERIC BELDEN VP OF ADVANCEMENT 40.00 X 149454 0 9993 PAMELA RITZLINE DEAN-SCHOOL OF BEHAV & HEALTH SCI 40.00 X 126436 0 16408 MICHAEL PETROCHUK DIRECTOR OF MBA PROGRAM 40.00 X 101321 0 30380 1406082 0 217322 14 0 1 0 SODEXO INC & AFFILIATES 4880 PAYSPHERE CIRCLE CHICAGO IL 60674 DINING SERVICES 3297808 FRED OLIVIERI CONSTRUCTION CO 6315 PROMWAY AVE NW NORTH CANTON OH 44720 CONSTRUCTION CONTRACTOR 1321483 VASCO 4270 STERILITE ST SE MASSILLON OH 44646 ASPHALT PAVING CONTRACTOR 427056 TODD'S ENVIROSCAPES INC 7727 PARIS AVE LOUISVILLE OH 44641 LANDSCAPE AND SNOW REMOVAL SERVICES 259778 ZENITH SYSTEMS LLC 5055 CORBIN DR CLEVELAND OH 44128 AUDIO VISUAL CONTRACTOR 239105 12 43345 319144 3049554 345517 3412043 TUITION AND FEES 611310 64016781 64016781 SALES/SERVICE AUXILIARY 611310 12564861 12564861 76581642 963482 963482 758794 754812 3982 3982 3982 9174135 400 8851348 67064 322787 -66664 256123 256123 54862 43345 80891 -26029 -26029 6482 1020 5462 5462 OTHER REVENUE 611310 1127291 1127291 RECOVERY OF BAD DEBTS 611310 42751 42751 INTEREST INCOME STUDENT LOANS 611310 8218 8218 2445 2445 1180705 82377410 76581642 0 2383725 28556 28556 31922972 31922972 883502 169999 713503 22123352 19422489 2119269 581594 1033851 914126 86511 33214 4134816 3808019 259697 67100 1719486 1442708 232912 43866 184716 7555 177161 170688 170688 2721102 2035101 634856 51145 563924 230997 332288 639 1580433 1226854 276403 77176 2953351 2383932 555288 14131 1986634 1846937 103092 36605 825975 408848 417127 3567689 3566095 1594 430941 192699 238242 DINING SERVICES 2933472 2764703 136616 32153 BAD DEBT EXPENSE 641871 0 631921 9950 DUES/MEMBERSHIPS/SUBSCR 482216 335261 117499 29456 OTHER INSTRUCTIONAL EXP 74261 74261 0 0 483895 84178 396717 3000 81447703 72866290 7601384 980029 111046 89224 8851580 11260855 4983776 4647478 2838398 2392699 1767622 1340668 19440 20915 805493 766199 123570224 56908758 69509002 66661466 16679967 17927219 9887029 9831199 810957 600933 116264310 115538855 2847842 2637121 457430 716123 17625000 16125000 1802565 1948122 22732837 21426366 X 67000294 65501632 10051618 11232289 16479561 17378568 93531473 94112489 116264310 115538855 X 929707 22494 -371185 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 0 537259 1 1 0 283902 X 0 27379276 1027405 1176660 570260 626547 0 28386534 25833167 1290602 1739450 523987 959956 0 27379276 22644893 1523085 2487063 505740 316134 0 25833167 21925835 1867857 -85048 477079 586672 0 22644893 21046406 1887827 -58983 432472 516943 0 21925835 0.31820 0.68180 0.00000 0 0 2543599 2543599 91111116 31771199 59339917 19867067 17423464 2443603 10048442 7714095 2334347 66661466 BENEFICIAL INTEREST IN PERPETUAL TRUST 378276 F ASSETS DESIGNATED FOR LONG-TERM INVESTMENT 8995605 F CHARITABLE REMAINDER UNITRUST 457318 F 9831199 TUITION DEPOSITS 320528 INTEREST PAYABLE 205701 US GOVT GRANTS REFUNDABLE 961591 CHARITABLE REMAINDER UNITRUST PAYABLE 306636 INTEREST RATE SWAP 153666 1948122 50973699 22494 539186 561680 50412019 31965391 31965391 82377410 50392683 867952 867952 49524731 31922972 31922972 81447703 PART III, LINE 4: WALSH UNIVERSITY OWNS THE HOOVER HISTORICAL CENTER OF WALSH UNIVERSITY, WHICH IS A SMALL MUSEUM THAT HOUSES A COLLECTION OF VACUUM CLEANERS AND OTHER ITEMS FROM THE HOOVER COMPANY. THE HOOVER HISTORICAL CENTER WAS DONATED TO WALSH UNIVERSITY IN 2004 AND NOW SUPPORTS THE MUSEUM STUDIES PROGRAM AT THE UNIVERSITY. PART V, LINE 4: THE MAJORITY OF THE ENDOWMENT FUNDS ARE USED FOR SCHOLARSHIPS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 754,812. INTEREST RATE SWAP -363,701. LOSS ON SALE OF FIXED ASSETS 66,664. FUNDRAISING EVENT EXPENSES 80,391. GAMING ACTIVITY EXPENSES 1,020. PART XI, LINE 4B - OTHER ADJUSTMENTS: TUITION DISCOUNTS 31,922,972. GROSS INCOME FROM WOMEN'S COMMITTEE FUNDRAISERS 31,317. WOMEN'S COMMITTEE FUNDRAISER DONATED AUCTION ITEMS 11,102. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 754,812. LOSS ON SALE OF FIXED ASSETS 66,664. FUNDRAISING EVENT EXPENSES 45,456. GAMING ACTIVITY EXPENSES 1,020. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION DISCOUNTS 31,922,972. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 LOCAL NEWSPAPERS AND OTHER PRINT MEDIA OF GENERAL CIRCULATION SCHEDULE E, PART I, LINE 6 FUNDS ARE PROVIDED BY GOVERNMENT AGENCIES UNDER VARIOUS FINANCIAL ASSISTANCE PROGRAMS AND ARE LOANED TO QUALIFIED STUDENTS. THE RECEIPT OF SUCH FUNDS GENERALLY REQUIRES COMPLIANCE AUDITS SO THAT THE TERMS AND CONDITIONS OF THE GRANTOR ARE MET. EUROPE 1 4 PROGRAM SERVICES INSTRUCTIONAL 837049 1 4 0 0 1 4 837049 0 837049 0 0 0 0 0 0 FAREY RAFFLE 31100 24880 6220 12000 0 0 7176 0 103 FASHION SHOW 24244 6760 17484 4885 900 14624 2 42863 11705 31158 800 2336 1770 13074 1000 22223 98207 43345 54862 12800 2336 1770 25135 1900 36950 80891 -26029 0 SCHOLARSHIPS FOR STUDENTS 1784 28298963 DISCOUNTS ON TUITION FOR STUDENTS 468 3624009 X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 RICHARD L JUSSEAUME PRESIDENT 331078 0 120000 0 61210 0 41723 0 24817 0 578828 0 0 0 DOUGLAS PALMER SECRETARY/VP FOR ACADEMIC AFFAIRS 125103 0 5000 0 142 0 7731 0 20925 0 158901 0 0 0 MICHELLE BROWN TREASURER/VP FOR FINANCE (FORMER) 101078 0 0 0 66101 0 23777 0 2016 0 192972 0 0 0 DALE HOWARD VP FOR ATHLETICS 127977 0 0 0 1098 0 8538 0 23860 0 161473 0 0 0 ERIC BELDEN VP OF ADVANCEMENT 124367 0 25000 0 87 0 8541 0 1452 0 159447 0 0 0 PART I, LINE 1A THE PRESIDENT'S CONTRACT INCLUDES A HOUSING ALLOWANCE THAT THE UNIVERSITY INCLUDES IN THE PRESIDENT'S TAXABLE INCOME. COUNTRY CLUB DUES ARE PAID ON BEHALF OF THE PRESIDENT OF THE UNIVERSITY. THE MEMBERSHIP IS UTILIZED FOR BUSINESS PURPOSES. ANY PERSONAL USE ASSOCIATED WITH THE MEMBERSHIP IS INCLUDED IN THE PRESIDENT'S TAXABLE INCOME. A OHIO HIGHER EDUCATIONAL FACILITY COMMISSION 346849674 2009-11-19 30000000 REFUNDING ISSUE (SEE PART VI) 0 0 0 A 30000000 30000000 2007 1 0 1 1 A 0 0 1 1 0 0.00240 0.02740 0.02980 0 0 1 A 0 0 1 0 1 0 0 0 1 A 1 SCHEDULE K, PART I, (F): REFUNDED BONDS WERE ISSUED ON 01/10/1999, 04/13/2000, 05/09/2002, 06/05/2003, 07/22/2004, 09/20/2005, 06/29/2006, AND 10/11/2007. AULTCARE INSURANCE COMPANY CHRIS REMARK IS A BOARD MEMBER OF WALSH AND CEO OF AULTCARE 3014925 THE UNIVERSITY CONTRACTS WITH AULTCARE INSURANCE COMPANY FOR HEALTH AND DENTAL INSURANCE AS WELL AS THE THIRD PARTY ADMINISTRATOR (AULTRA/AULTRA SELF) OF OUR HEALTH AND DEPENDENT CARE FLEXIBLE SPENDING ACCOUNTS. CHRIS REMARK IS CURRENTLY A MEMBER OF THE UNIVERSITY'S BOARD OF DIRECTORS AND IS THE CEO OF AULTMAN HEALTH FOUNDATION. THE SELECTION OF AULTCARE WAS MADE PRIOR TO MR. REMARK'S APPOINTMENT TO THE BOARD. EVERY TWO YEARS, THE UNIVERSITY RECEIVES COMPETITIVE QUOTES FROM THE RESULTS OF THE MARKET RESEARCH PERFORMED BY OUR BROKERS. IF AND WHEN ANY ISSUES CONCERNING AULTCARE ARE TAKEN TO THE BOARD, MR. REMARK WILL FOLLOW THE GUIDELINES SET BY THE CONFLICT OF INTEREST POLICY AND WILL ABSTAIN FROM VOTING. 0 MERCY MEDICAL BARBARA YINGLING IS A BOARD MEMBER OF WALSH AND VP OF MERCY MEDICAL 144161 THE UNIVERSITY CONTRACTS WITH MERCY MEDICAL CENTER, INC. TO PROVIDE ATHLETIC TRAINING SERVICES FOR THE UNIVERSITY'S ATHLETIC PROGRAM. MERCY MEDICAL CENTER'S WORK HEALTH & SAFETY SERVICES ALSO PROVIDE A STUDENT HEALTH CENTER MANAGEMENT PROGRAM AT THE UNIVERSITY. IF AND WHEN ANY ISSUES CONCERNING MERCY MEDICAL ARE TAKEN TO THE BOARD, MS. YINGLING WILL FOLLOW THE GUIDELINES SET BY THE CONFLICT OF INTEREST POLICY AND WILL ABSTAIN FROM VOTING. 0 AULTRA SELF CHRIS REMARK IS A BOARD MEMBER OF WALSH AND CEO OF AULTRA SELF 272061 SEE DESCRIPTION FOR AULTCARE. 0 MCDONALD HOPKINS LLC ISABELLE BIBET-KALINYAK-WALSH BOARD MEMBER & PARTNER AT MCDONALD HOPKINS 75316 THE UNIVERSITY USES THE LEGAL SERVICES PROVIDED BY MCDONALD HOPKINS AS IT PERTAINS TO ISSUES OF IMMIGRATION AND VISAS. IF AND WHEN ANY ISSUES CONCERNING MCDONALD HOPKINS ARE TAKEN TO THE BOARD, MS. BIBET-KALINYAK WILL FOLLOW THE GUIDELINES SET BY THE CONFLICT OF INTEREST POLICY AND WILL ABSTAIN FROM VOTING. 0 X 5 316661 STOCK MARKET X AUCTION ITEMS AND RAFFLE PRIZES 179 28856 DONOR ESTIMATED FMV 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF THE FORM 990 WAS PRESENTED TO THE FINANCE AND AUDIT COMMITTEE FOR DISCUSSION AND APPROVAL AT THE FEBRUARY MEETING. UPON APPROVAL, THE FINANCE AND AUDIT COMMITTEE RECOMMENDED APPROVAL OF THE FORM 990 BY THE FULL BOARD. THE APPROVED COPY OF THE FORM 990 WAS MADE AVAILABLE TO ALL BOARD MEMBERS THROUGH ELECTRONIC MAIL. SCHEDULE B WAS REDACTED IN THE EMAILED VERSION WITH A HARD COPY MADE AVAILABLE TO THE BOARD AT THE FINANCE OFFICE. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY APPLIES TO ALL MEMBERS OF THE BOARD OF DIRECTORS OF WALSH UNIVERSITY. EACH YEAR, THE PRESIDENT'S OFFICE SENDS OUT "CONFIDENTIAL DISCLOSURE STATEMENTS" TO ALL MEMBERS OF THE BOARD OF DIRECTORS AND THE UNIVERSITY'S OFFICERS. BY COMPLETING AND SIGNING THE STATEMENTS EACH MEMBER OR OFFICER IS CERTIFYING THAT THEY HAVE CAREFULLY READ THE WALSH UNIVERSITY BOARD OF DIRECTORS CONFLICT OF INTEREST POLICY; THAT THEY WILL ABIDE BY THE LETTER AND THE SPIRIT OF THE POLICY AND THAT THEY WILL MAKE ALL DISCLOSURES REQUIRED UNDER THE TERMS OF THE POLICY. THE COMPLETED AND SIGNED STATEMENTS ARE SENT TO THE TREASURER OF THE BOARD OF DIRECTORS. THE TREASURER AND THE CHAIR OF THE BOARD REVIEW THE STATEMENTS AND MAKE A DETERMINATION AS TO THE LIKELIHOOD OF ANY ACTUAL OR POTENTIAL CONFLICTS OF INTERESTS. IF A DIRECTOR REPORTS A CONFLICT OF INTEREST TO THE BOARD, THAT DIRECTOR MAY EXPRESS HIS OR HER VIEWS AT BOARD OR COMMITTEE MEETINGS AFTER DISCLOSING AT THE TIME OF SUCH EXPRESSION THE MATERIAL FACTS GIVING RISE TO THE CONFLICT OF INTEREST. THE DISINTERESTED DIRECTORS ARE ALSO PERMITTED TO DISCUSS THE MATTER OUTSIDE OF THE PRESENCE OF THE DIRECTOR WHO HAS A CONFLICT OF INTEREST. THE DIRECTOR WHO HAS A CONFLICT OF INTEREST WILL NOT BE PERMITTED TO VOTE ON MATTERS UNDER CONSIDERATION BY THE BOARD AFFECTED BY THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION COMMITTEE IS RESPONSIBLE FOR ESTABLISHING THE COMPENSATION OF THE PRESIDENT OF THE UNIVERSITY. THE COMMITTEE CONSISTS OF THE FOLLOWING: - CHAIRMAN OF THE BOARD OF DIRECTORS - VICE-CHAIRMAN OF THE BOARD OF DIRECTORS - FINANCE & AUDIT COMMITTEE CHAIRMAN - VP OF FINANCE & BUSINESS AFFAIRS/CFO ADDITIONAL INPUT COMES FROM THE DIRECTOR OF HUMAN RESOURCES. NOTE THAT THE VP OF FINANCE & BUSINESS AFFAIRS/CFO IS A NON-VOTING MEMBER OF THE COMMITTEE AND MAKES NO DECISIONS REGARDING THE PRESIDENT'S COMPENSATION. THE COMMITTEE ESTABLISHED THE PRESIDENT'S CONTRACT AMENDMENT NO. 1, EFFECTIVE JULY 1, 2007, WHICH DEFINES ADDITIONAL BENEFITS. THE COMPENSATION COMMITTEE USED THE FOLLOWING INFORMATION AND SERVICES TO ESTABLISH THE AMENDMENT: - NAICU PRESIDENTS NETWORK SALARY SURVEY - CUPA-HR ADMINISTRATIVE COMPENSATION SURVEY - CONSULTANT - LEGAL SERVICES FROM BLACK, MCCUSKEY, SOUERS & ARBAUGH IN 2014 THE COMMITTEE AMENDED THE PRESIDENT'S CONTRACT TO ESTABLISH THE ANNUAL BASE SALARY AND LONGEVITY PAYMENTS FOR THE TERM OF THE CONTRACT. THE ANNUAL BASE SALARY IS SET ACCORDING TO THE MOST RECENT VERSION OF THE ADMINISTRATOR'S IN HIGHER EDUCATION SALARY SURVEY, PRIVATE RELIGIOUS INSTITUTIONS (CUPA-HR SURVEY) UNDER THE CEO, SINGLE INST./CAMPUS SYST. COLUMN. IT SHALL BE THE AVERAGE OF THE UNWEIGHTED MEDIAN SALARY BY ENROLLMENT QUARTILE AND THE UNWEIGHTED MEDIAN SALARY BY TOTAL EXPENSE QUARTILE. EACH YEAR THE CHAIRMAN AND VICE-CHAIRMAN OF THE BOARD APPROVE THE PRESIDENT'S ANNUAL BASE SALARY AND LONGEVITY PAYMENT. THE PRESIDENT SETS COMPENSATION AMOUNTS FOR THE UNIVERSITY'S VICE-PRESIDENTS BASED ON THE UNIVERSITY'S COMPENSATION MANAGEMENT PROGRAM. THE COMPENSATION MANAGEMENT PROGRAM TAKES INTO ACCOUNT JOB FACTORS INCLUDING FACILITATING STUDENT SUCCESS, KNOWLEDGE AND SKILL, IMPACT AND RESPONSIBILITY, INTERACTION WITH OTHERS, AND WORKING CONTEXT. THE PRESIDENT WORKS WITH THE DIRECTOR OF HUMAN RESOURCES TO REFERENCE THE CUPA-HR ADMINISTRATIVE COMPENSATION SURVEY TO DETERMINE IF SALARY LEVELS ARE APPROPRIATE. THE BOARD OF DIRECTORS APPROVES ALL CONTRACTS THROUGH THE BUDGETING PROCESS. FORM 990, PART VI, SECTION C, LINE 19 WALSH UNIVERSITY DOES NOT MAKE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENT AVAILABLE TO THE GENERAL PUBLIC. HOWEVER, THE UNIVERSITY WILL PROVIDE THESE DOCUMENTS TO THE GENERAL PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: LOSS ON INTEREST RATE SWAP -363,701. GROSS INCOME FROM WOMEN'S COMMITTEE EVENTS -31,317. EXPENSES FROM WOMEN'S COMMITTEE EVENTS 34,935. WOMEN'S COMMITTEE FUNDRAISER DONATED AUCTION ITEMS -11,102. FEDERAL ELECTIONS SECTION 1.263(A)-1(F) DE MINIMIS SAFE HARBOR ELECTION WALSH UNIVERSITY, INC. 2020 EAST MAPLE ST. NORTH CANTON, OH 44720-3396 EMPLOYER IDENTIFICATION NUMBER: 34-0868798 FOR THE YEAR ENDING JUNE 30, 2019 WALSH UNIVERSITY, INC. IS MAKING THE DE MINIMIS SAFE HARBOR ELECTION UNDER REG. SEC. 1.263(A)-1(F).