2019-04-08T09:19:27-05:00 2018-05-31 450250958 EIDE BAILLY LLP 1545 ASSOCIATES DR STE 101 DUBUQUE IA 52002 990 2017-06-01 420680408 Clarke University of Dubuque Iowa CLAR 5635886315 1550 Clarke Drive Dubuque IA 52001 Elizabeth McGrath Treasurer/VP for Business & Finance 5635886315 2019-04-08 1 Carmen Krantz P00031958 5635561790 2019-04-08 74.84.124.22 2019-04-08 08:46:32 CD 42220420190080321e20 2019-01-08 P 330E77A2EC15986A2DC713C7FDB26B906589BB96 330E77A2EC15986A2DC713C7FDB26B906589BB96 2017 2019-02-21 02:37:17Z X Elizabeth McGrath 1550 Clarke Drive Dubuque IA 52001 37408070 0 0928 X www.clarke.edu X 1843 IA Catholic, co-educational, liberal arts university educating at post-secondary & graduate level 31 30 742 27 0 358 5344102 3445321 31484768 31547269 1532349 688245 224399 60905 38585618 35741740 11127657 11401654 0 0 15447714 15214723 22946 60069 1336562 9130541 9404168 35728858 36080614 2856760 -338874 71384023 73334230 12126516 13006957 59257507 60327273 X We are a Catholic, co-educational, liberal arts university founded in 1843 by the Sisters of Charity of the Blessed Virgin Mary in Dubuque, Iowa. Clarke educates students at the post-secondary level in the liberal arts and sciences, the fine arts, selected professional programs, and graduate programs.We, the faculty, students, staff and administration are a caring, learning community committed to excellence in education. We provide a supportive environment that encourages personal and intellectual growth, promotes global awareness and social responsibility, and deepens spiritual values. 0 0 17571671 9550828 27011875 Clarke University is a 4-year non-profit liberal arts and sciences university focused on progressing with the times. Humble beginnings have developed into over 30 undergraduate and 7 graduate programs, including a best-in-class adult education program. We are an institution guided by steadfast principles. We believe one-on-one learning is the ratio for future scholars and laureates. We understand that without proper connections, a quality education is moot. We recognize that easy access to our educators is what sets us apart. It is more than a pledge. It is a progressive framework that has guided us for more than one-and-a-half centuries.Clarke confers the Associate of Arts (AA), Bachelor of Arts (BA), Bachelor of Science (BS), Bachelors of Applied Studies (BAS), Bachelors of Social Work (BSW), Bachelor of Science in Nursing (BSN), Bachelor of Fine Arts (BFA), Master of Arts in Education (MAE), Master of Business Administration (MBA), Master of Organizational Leadership (MOL), Master of Social Work (MSW), Doctor of Nursing Practice (DNP) and Doctor of Physical Therapy (DPT).Over 1,043 students come from 29 states and five countries.. The average ACT score of the 2017 freshman class was 22 and the average high school grade-point-average was 3.4. In the last five years, an average of 96 percent of survey respondents reported being employed in their field or continuing their education. The student/faculty ratio is 8:1.During the 2016-2017 academic year, 100 percent of Clarke's full-time, day-time students (who were eligible, and applied) received financial aid in the form of scholarships, grants, loans, and work-study. Students are encouraged to apply for financial aid. Clarke University offers a variety of merit scholarships to students that include academic, athletic talent, fine arts and other scholarships.Clarke University does not discriminate on the basis of gender, sex, race, color, national or ethnic origin, sexual orientation, age or disability in the educational programs which it conducts or in its employment policies, practices and procedures. Clarke University complies with all pertinent state and federal regulations concerning affirmative action, nondiscrimination and equal employment opportunity. 7011536 1850826 4271438 Auxiliary Enterprises: Programs available to all 1,039 students including the residence halls, board plans and athletics. Residence Hall capacity is 571 with occupancy of 434, or 75.0%. In the fall of 2017, all 434 resident students also had board plans with food service. 2882735 263956 Student services: Resources provided to all 1,039 students by student activities, health services, counseling center, career center, admissions and financial aid. 1620905 Academic support programs 1620905 29086847 1 1 0 0 0 0 0 1 1 1 1 1 0 0 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 61 0 1 742 1 1 1 0 0 0 0 1 1 0 0 0 0 X 31 30 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X Joanne M Burrows SC PhD 5635886385 1550 Clarke Drive Dubuque IA 52001 Robert C Wahlert Chair 1.00 X X 0 0 0 Mary Rose Corrigan-Psihoyos Vice Chair 1.00 X X 0 0 0 Ann McDonough Secretary 1.00 X X 0 0 0 Karen Chiappetta Trustee 1.00 X 0 0 0 Bernadette McManigal BVM Trustee 1.00 X 0 0 0 Margaret Mary Cosgrove BVM Trustee 1.00 X 0 0 0 Jason Knockel Trustee 1.00 X 0 0 0 Mark Wahlert Trustee 1.00 X 0 0 0 John Stavnes Trustee 1.00 X 0 0 0 Carolyn Fitzgerald Gantz Trustee 1.00 X 0 0 0 Margaret Geraghty BVM PhD Trustee 1.00 X 0 0 0 Teri Hawks Goodman Trustee 1.00 X 0 0 0 Richard Gregory Trustee 1.00 X 0 0 0 Suzanne McGovern Juergens Trustee 1.00 X 0 0 0 Nancy Swift Klauer Trustee 1.00 X 0 0 0 Teri Hadro BVM Trustee 1.00 X 0 0 0 Fr Mark Ressler Trustee 1.00 X 0 0 0 Ann Harrington BVM Ph D Trustee 1.00 X 0 0 0 Maureen Quann Trustee 1.00 X 0 0 0 Matthew Zelle Trustee 1.00 X 0 0 0 Regina Qualls BVM Trustee 1.00 X 0 0 0 James H Thompson Trustee 1.00 X 0 0 0 Jane Daly Seaberg Trustee 1.00 X 0 0 0 Cathy Schulze Trustee 1.00 X 0 0 0 Thomas P Williams DDS MD Trustee 1.00 X 0 0 0 Ronald C Wilgenbusch Trustee 1.00 X 0 0 0 Mary Ann Zollmann BVM PhD Trustee 1.00 X 0 0 0 Jenifer Collins Westphal Trustee 1.00 X 0 0 0 Carolyn Farrell BVM Trustee 1.00 X 0 0 0 Dennis Powers Trustee 1.00 X 0 0 0 Joanne M Burrows SC PhD President and Trustee 40.00 X X 205816 0 55123 Daisy Halvorson Treasurer/VP Business/Finance 40.00 X 137909 0 24853 Susan R Burns PhD Provost/VP of Academic Affairs 40.00 X 123413 0 23482 William Biebuyck VP-Institutional Advancement 40.00 X 150542 0 25026 Jan Lee Faculty Chair, Nursing Dept 40.00 X 101519 0 14630 Jay Fedje VP Enrollment Management 40.00 X 144129 0 18525 863328 0 161639 6 0 1 0 Tri-State Travel PO Box 307 Galena IL 61036 Travel services 246360 Assessment Technologies Institute 62277 Collections Center Dr Chicago IL 606930622 Student assessment services 129750 Tri-City Electric Company 415 Perry St Davenport IA 52801 Construction services 106436 3 14627 873306 2557388 30060 3445321 Tuition and fees 611310 27011875 27011875 Auxiliary enterprises 611710 4271438 4271438 Conferences & events 611710 142025 142025 121931 121931 31547269 612569 612569 42541 0 42541 42541 42541 1683729 1608053 75676 75676 75676 45817 14627 32119 13698 13698 30824 26158 4666 4666 35741740 31547269 0 749150 11401654 11401654 539158 75302 388531 75325 11864972 9422650 1904922 537400 444083 350240 79087 14756 1515776 533241 952138 30397 850734 625068 189719 35947 6335 4515 1820 19943 19943 133765 133765 60069 60069 136637 136637 437660 205100 232560 232280 232280 2119174 1668418 350427 100329 428721 142907 142907 142907 1034295 1034295 728470 656722 27766 43982 83910 52097 31668 145 183094 162914 10090 10090 2198418 1956118 121150 121150 219790 61797 157993 Stipends and casual lab 301921 276613 14655 10653 Memberships 182684 63680 114249 4755 Repairs and maintenance 161866 35151 124798 1917 Bad debt expense 133446 133446 661759 362880 153959 144920 36080614 29086847 5657205 1336562 1810 1410 3847516 4263977 428509 847157 695113 582850 161442 310578 242074 74825704 39903701 34183177 34922003 13402322 13962397 14631685 14922717 1705222 1796060 2016649 1793585 71384023 73334230 1643294 2658361 819934 848677 6918978 6436581 55091 54185 513844 561878 2175375 2447275 12126516 13006957 X 41085173 41333933 4037954 4322071 14134380 14671269 59257507 60327273 71384023 73334230 X -338874 1409076 -436 X 0 1 X 1 1 1 X 2495359 2900244 3041379 5344102 3445321 17226405 2495359 2900244 3041379 5344102 3445321 17226405 1205997 16020408 884621 1021805 806824 698003 655110 4066363 21292768 162785490 0.75240 0.72340 X X X X 0 0 1 X 26910533 515462 1769918 639086 897890 64154 27594783 24259677 1668915 2606295 665977 863963 94414 26910533 31302936 403082 -1977642 572137 4832415 64147 24259677 32895989 305448 -304693 511408 997655 84745 31302936 31436877 265841 4182442 478236 2406345 104590 32895989 0.50750 0.47980 0.01270 0 0 390119 390119 58233809 28682451 29551358 10887548 8280072 2607476 5314228 2941178 2373050 34922003 Cash value of life insurance 376472 F Dubuque Foundation Trust 11023 F Real estate 15200 C Hedge fund 2448643 F Common trust funds 9303228 F Pooled investment fund 2768151 F 14922717 Due to US Government - loan programs 1418229 Conditional asset retirement obligation 1004740 Annuities payable 24306 2447275 X 26428642 1409076 -10780451 -9371375 35800017 -58277 -58277 35741740 25358876 58713 58713 25300163 10780451 10780451 36080614 Part III, Line 4: The collection consists of a limited heritage edition of world-renowned Saint John's Bible. The heritage edition is a completely handwritten and illustrated re-creation of the original Saint John's Bible. The Saint John's Bible is a significant representation of the Word of God and a compelling work of art. This rare gift to Clarke will serve as a testament to our Catholic heritage and it will be a source of pride for the University and community. The University plans to exhibit the Bible as volumes are received and is planning a speaker series to accompany each volume's arrival. Part IV, Line 2b: Student deposit accounts are held by the University for various student groups on campus. Part V, Line 4: The endowment funds are invested to provide for total return. Spending from the endowment supports scholarship and other educational activities. Part X, Line 2: The University is a nonprofit organization and has been recognized by the Internal Revenue Service (IRS) as exempt from federal income taxes under Section 501(c)(3). In addition, the entity is subject to income tax on net income that is derived from business activities that are unrelated to its exempt purpose. The University has determined it is not subject to unrelated business income tax and has not filed an Exempt Organization Business Income Tax Return (Form 990-T) with the IRS. The University believes that it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The entity would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. Part XI, Line 2d - Other Adjustments: Scholarships and grants included in expenses for Form 990 -10,643,814. Investment management fees included in expenses for Form 990 -136,637. Part XI, Line 4b - Other Adjustments: Book store cost of goods sold included in revenue for Form 990 -26,158. Fundraising expenses included in revenue for Form 990 -32,119. Rent expenses included in revenue for Form 990 Part XII, Line 2d - Other Adjustments: Book store cost of goods sold included in revenue for Form 990 26,158. Fundraising expenses included in revenue for Form 990 32,119. Adjustment on annuity obligation included in expenses for financial stmts 436. Rent expenses included in revenue for Form 990 Part XII, Line 4b - Other Adjustments: Scholarships and grants included in expenses for Form 990 10,643,814. Investment management fees included in expenses for form 990 136,637. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Clarke does not make any public disclosures in the media regarding its nondiscrimination policy when recruiting students. However, Clarke does include a statement in the Magazine of Clarke, the website and other printed materials such as brochures and applications. All public job postings include a statement that Clarke is an equal opportunity employer. Schedule E, Part I, Line 6 Financial aid or assistance from a governmental agency is distributed to students using federally approved financial need analysis criteria. X X X X X X X 1 Ruffalo Noel Levitz LLC PO Box 718 Des Moines IA 50303 Phone-a-thon 0 46129 27104 19025 EAB-Advancement Services PO Box 603519 Charlotte NC 28260 Fall, holiday, and spring appeals 0 13275 27465 -14190 Crescendo Interactive Inc 110 Camino Ruiz Camarillo CA 93012 Planned giving website and newsletter 0 0 5500 -5500 59404 60069 -665 AL AK AZ AR CA CO CT DE DC FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY Celebrity Golf Classic 60444 14627 45817 6177 18833 7109 60444 14627 45817 6177 18833 7109 32119 13698 1 Endowed scholarships 840 502766 Endowed awards 58 14223 Institutional scholarships 3792 10035707 Federal SEOG grants 225 89818 Tuition remission & other waivers 43 430133 Tuition exchange 24 329007 Part I, Line 2: Grants and scholarships are awarded to students based on specific criteria detailed in the various grant/scholarship agreements. Members of the financial aid office and various scholarship/award committees review records for all potential recipients to ensure that the scholarship/award is being awarded properly. X X 0 1 X X 0 0 0 0 0 0 0 0 0 Joanne M Burrows SC PhD President and Trustee 203002 0 0 0 2814 0 12276 0 43870 0 261962 0 0 0 Daisy Halvorson Treasurer/VP Business/Finance 137123 0 0 0 786 0 7151 0 18489 0 163549 0 0 0 William Biebuyck VP-Institutional Advancement 147954 0 0 0 2588 0 7781 0 18102 0 176425 0 0 0 Jay Fedje VP Enrollment Management 143683 0 0 0 446 0 0 0 19350 0 163479 0 0 0 Part I, Line 1a Joanne Burrows, SC, Ph.D., President, receives a housing non-taxable benefit which is reported as other compensation on Form 990, Part VII, Section A, Column (F) and Schedule J, Page 2, Part II, Column (D). A plaque in the house states the house was donated to Clarke for use as the Presidential residence. The President conducts significant business activities and university related entertainment on university property. The residence is owned by Clarke and designated the Official University Presidential House. The Organization pays country club dues on behalf of Joanne Burrows, SC, Ph.D., President and William Biebuyck, Vice President for Institutional Advancement. The employees use the country club for business purposes and understand any personal use would be a taxable benefit. Part I, Line 1b The Organization does not have its own written policy regarding payment or reimbursement of expenses for the country club dues, however it follows the IRS tax law related to taxable employer benefits for the employees for which the University pays country club dues. A Iowa Higher Education Loan Authority - Series A 421235696 2012-05-25 8000000 Refunding bonds issued 1/22/98 and new science facility 0 0 0 A 1563419 8001039 145753 35853 4472294 3347139 2013 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 1 0 0 0 1 A 1 Date Rebate Computation Performed Issuer Name: Iowa Higher Education Loan Authority - Series A Date the Rebate Computation was Performed: 05/25/2016 Schedule K, Part II, Line 11, Column A: The other spent proceeds were used to currently refund bonds originally issued on January 22, 1998. Schedule K, Part II, Line 3, Column A: The amount of interest earned on the bond proceeds while they were held in the project fund was $1,039. Schedule K, Part IV, Arbitrage, Line 2c: Since all proceeds were spent as of the formal rebate calculation no additional calculation is required. X 5780 Thrift store value X Gift certificates 38 10598 Cost X Furniture 3 5130 Cost X Travel 8 3786 Cost X Tickets 5 2597 Cost X Jewelry 3 1039 Cost X Rental 2 950 Cost X Print 1 180 Cost 0 0 1 0 Form 990, Page 1 amended return explanation: The Form 990 was amended to show the completion of Form 990-T filed for qualified transportation benefits (parking). Part I, line 7b was completed for the unrelated business income associated with the qualified transportation benefits. Part V, lines 3a & 3b were marked yes due to the filing of Form 990-T. Form 990, Part VI, Section A, line 1 The Chair of the Board of Trustees at each annual meeting appoints an Executive Committee which consists of the Chair of the Board of Trustees, the President of the University, the President of the Sisters of Charity of the Blessed Virgin Mary and not less than five nor more than eleven members selected from the Board of Trustees. The Executive Committee has full charge of the affairs of the corporation between regular meetings of the Board of Trustees, subject to the conditions or limitations hereinafter imposed. Excluded from the powers and authority of this Committee are the following: 1. Power to adopt, amend or repeal the Articles of Incorporation or Bylaws; 2. Election of officers of or filling vacancies on the Board of Trustees; 3. Election of or removal of officers of the corporation; 4. Power to act on mergers or consolidations; 5. Appointment of or discharge of standing committees of the Board of Trustees; 6. Undertaking or authorization of major financing, as defined by the Debt Policy, unless specifically authorized to undertake and to negotiate financing in excess of such amount by the Board of Trustees; 7. Authority to fix officers' compensation unless specially authorized by the Board of Trustees; 8. Power to fix student fees, room and board charges, or tuition, except after presentation to the Board of Trustees and then only within the parameters as are set by the Board of Trustees; 9. Sale, lease or disposition of real estate; 10. Such other aspects of the corporation's business as the Board of Trustees may from time to time by resolution specifically restrict; 11. Confer degrees, earned or honorary. Form 990, Part VI, Section A, line 7b The Board of Trustees has general powers, duties, and responsibilities with regard to governance of the organization. In addition, pursuant to the Bylaws of the Organization, a Board of Corporators consisting of nine (9) specific individuals from the Board of Trustees, has authority to: A. adopt, alter, amend or repeal the Bylaws of the Corporation; B. exercise, in its discretion, the power of disaffirmation with regard to Board of Trustee decisions/actions. Disaffirmation requires a majority vote of the Board of Corporators and must be exercised within five (5) days of the Board of Trustee decision/action being disaffirmed; C. exercise such other powers as it may, from time to time, reserve to itself. Each member of the Board of Corporators is entitled to one (1) vote. Form 990, Part VI, Section B, line 11b The review of the Form 990 is delegated by the Board of Trustees of Clarke University to the Audit Committee comprised of members of management of Clarke and several Trustees who serve on the Board. The Audit Committee meets to review the completed Form 990 with the paid tax preparer. Any revisions are made and subsequently approved by the committee prior to the full board meeting. All Trustees receive a final copy of the Form 990 after it is approved by the Audit Committee and before it is filed with the IRS. Form 990, Part VI, Section B, line 12c Any duality of interest or possible conflict of interest on the part of any Board of Trustee member shall be disclosed to the other members of the board of Trustees and made a matter of record through an annual procedure and also when the conflict of interest becomes a matter of action by the Board of Trustees. Any Board of Trustee member having a duality of interest or possible conflict of interest on any matter shall not vote or use his or her personal influence on the matter, and he or she shall not be counted in determining the quorum situation. The foregoing requirements shall not be construed as preventing the Board of Trustee member from briefly stating his or her position in the matter, nor from answering the pertinent questions of other Board of Trustee members since his or her knowledge may be of great assistance. Any new member of the Board will be advised of this policy upon entering upon the duties of his and her office. Form 990, Part VI, Section B, line 15 The Board has a conversation during an executive session meeting each January regarding the President's compensation and the contract terms. A small ad hoc group composed of the Chair, Vice Chair, and Trustee/legal counsel meet to discuss the President's compensation. They review comparative salaries and benefits for other presidents in the Iowa Association of Independent College & Universities (IAICU), and prepare a recommendation for the full Board to approve. The recommendation is approved or rejected by the Board at the April meeting. The Audit Committee reviews the compensation for the other officers of the Organization and uses comparability data from the IAICU for similar positions. The other officers receive the same compensation increase as other salaried and faculty employees on an annual basis. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy and audited financial statements of Clarke University are available upon request. In addition, our university-wide conflict of interest policy is available on our website in the employment manual. Our financial statements are also posted on the National Association of College and University Business Officers' website. Form 990, Part XI, line 9: Adjustment on annuity obligation -436. Charitable Remainder Trust Charitable income AZ N/A T 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0