2019-04-05T10:34:26-05:00 2018-06-30 560574444 CHERRY BEKAERT LLP 1111 METROPOLITAN AVE STE 900 CHARLOTTE NC 28204 990 2017-07-01 560530242 MEREDITH COLLEGE MERE 9197608516 3800 HILLSBOROUGH STREET RALEIGH NC 27607 CRAIG BARFIELD VP FOR BUSINESS & FINANCE 9197608516 2019-04-05 1 AMANDA ADAMS P00748038 7043771678 68.142.180.174 2019-04-05 10:32:19 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 0B670C8C210F0245D71F1F8B052AA4E3CE9649D0 2017 2019-02-21 02:37:17Z DR JO ALLEN 3800 HILLSBOROUGH STREET RALEIGH NC 27607 106552585 0 X WWW.MEREDITH.EDU X 1891 NC FOUNDED IN 1891, MEREDITH COLLEGE IS ONE OF THE LARGEST INDEPENDENT WOMEN'S COLLEGES IN THE U.S. MEREDITH OFFERS COMPREHENSIVE LIBERAL ARTS AND PROFESSIONAL STUDIES FOR UNDERGRADUATE WOMEN. MEREDITH ALSO OFFERS COEDUCATIONAL M.B.A., M.A.T., M.ED. AND M.S. IN NUTRITION PROGRAMS AND COEDUCATIONAL BUSINESS, PARALEGAL, DIETETICS AND PRE-HEALTH CERTIFICATE PROGRAMS. 35 35 1362 350 29108 0 10704612 10226063 72373058 73300732 7871445 6838547 5026 10101 90954141 90375443 24253798 25812542 0 0 30879484 32256200 8981 22100 1610661 25508629 26653582 80650892 84744424 10303249 5631019 191718614 198555048 67392549 67428779 124326065 131126269 X MEREDITH COLLEGE, GROUNDED IN THE LIBERAL ARTS AND COMMITTED TO PROFESSIONAL PREPARATION, EDUCATES AND INSPIRES STUDENTS TO LIVE WITH INTEGRITY AND PROVIDE LEADERSHIP FOR THE NEEDS, OPPORTUNITIES AND CHALLENGES OF SOCIETY. 0 0 64647432 25812542 64338922 EDUCATIONAL AND GENERAL EXPENSES: INSTRUCTIONAL, PUBLIC SERVICE, LIBRARY, STUDENT SERVICES, PLANT OPERATIONS, STUDENT AID. MEREDITH COLLEGE IS GOING STRONG. CHARTERED IN 1891, MEREDITH IS ONE OF THE NATION'S LARGEST INDEPENDENT PRIVATE WOMEN'S COLLEGES. OUR STUDENT BODY HAS GROWN TO NEARLY 2,000 AND INCLUDES MEN AT THE GRADUATE LEVEL IN BUSINESS, EDUCATION, AND NUTRITION; POSTBACCALAUREATE CERTIFICATES IN PRE-HEALTH AND BUSINESS; A PARALEGAL PROGRAM, AND MORE. MEREDITH CHALLENGES STUDENTS TO EXPLORE THEIR INTERESTS, EXPAND THEIR SKILLS, AND BUILD ON THEIR STRENGTHS. OUR GRADUATES GO ON TO USE THEIR INTELLECT AND ABILITIES TO MAKE A POSITIVE IMPACT ON THE WORLD. U.S. NEWS, THE PRINCETON REVIEW AND FORBES.COM HAVE ALL INCLUDED MEREDITH IN THEIR "BEST COLLEGES" LISTS.SCHOLARSHIPS AND GRANTS: THE COLLEGE PROVIDES APPROXIMATELY 1,657 STUDENTS WITH SCHOLARSHIPS AND GRANTS TO ASSIST IN THE PURSUIT OF UNDERGRADUATE AND GRADUATE DEGREES. 9102180 8961810 AUXILIARY ENTERPRISES: THE COLLEGE PROVIDES A NUMBER OF SERVICES THAT SUPPORT LEARNING, BUILD COMMUNITY AND ENHANCE THE OVERALL QUALITY OF STUDENT LIFE. THESE INCLUDE, BUT ARE NOT LIMITED TO, RESIDENTIAL HOUSING, APARTMENTS, DINING, BOOKSTORE AND MAIL SERVICES. 73749612 1 1 0 0 0 0 0 0 1 1 1 1 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 0 0 1 0 0 0 0 1 0 0 0 1 2985 0 1 1362 1 1 1 1 IT 0 0 0 1 1 1 1 0 0 0 X 35 35 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X CRAIG M BARFIELD 9197608516 3800 HILLSBOROUGH ST RALEIGH NC 27607 LESLIE LANDIS HAYES CHAIR 1.00 X 0 0 0 CAROLYN LEITH VICE CHAIR 1.00 X 0 0 0 CHRISTIE BISHOP BARBEE MEMBER 1.00 X 0 0 0 ELIZABETH TRIPLETT BEAM MEMBER 1.00 X 0 0 0 YVETTE M BROWN MEMBER 1.00 X 0 0 0 NANCY WILLIAMS CHEEK MEMBER 1.00 X 0 0 0 THOMAS EH CONWAY JR MEMBER 1.00 X 0 0 0 JOSEPHINE COOPER MEMBER 1.00 X 0 0 0 JAVIER DIAZ DE LEON MEMBER 1.00 X 0 0 0 MARY DOSSENBACH MEMBER 1.00 X 0 0 0 ROBERT W EAVES JR MEMBER 1.00 X 0 0 0 SAM E EWELL JR MEMBER 1.00 X 0 0 0 ELLA FRANTZ MEMBER 1.00 X 0 0 0 BETSY PORTER FRITSCHEL MEMBER 1.00 X 0 0 0 ALMA AMMONS HOFFMANN MED MEMBER 1.00 X 0 0 0 H ALEXANDER HOLMES MEMBER, IMMEDIATE PAST CHAIR 1.00 X 0 0 0 AMANDA SHELTON HOUSER MEMBER 1.00 X 0 0 0 ANN BATSON JAMES MEMBER 1.00 X 0 0 0 PHILLIP J KIRK JR MEMBER 1.00 X 0 0 0 DURWOOD LAUGHINGHOUSE MEMBER 1.00 X 0 0 0 ANN LOWERY MEMBER 1.00 X 0 0 0 BILLY D MADDALON MEMBER 1.00 X 0 0 0 CAROL LANCASTER MILANO MEMBER 1.00 X 0 0 0 LORIANN MESSINA MOSCATO MEMBER 1.00 X 0 0 0 GINGER ALEXANDER NEUSTADT MEMBER 1.00 X 0 0 0 SARAH PARKER MEMBER 1.00 X 0 0 0 LISA ROBIE POOLE MEMBER 1.00 X 0 0 0 NANCY PENTECOST SISKA MEMBER 1.00 X 0 0 0 SILDA WALL SPITZER MEMBER 1.00 X 0 0 0 FRANCES JENNINGS TETER MEMBER 1.00 X 0 0 0 DONNA WILSON THAGARD MEMBER 1.00 X 0 0 0 LOU PERRY TIPPETT MEMBER 1.00 X 0 0 0 RICHARD URQUHART MEMBER 1.00 X 0 0 0 DAVID WARREN MEMBER 1.00 X 0 0 0 HEATHER CLARK WARREN MEMBER 1.00 X 0 0 0 JO ALLEN PRESIDENT 40.00 X 334592 0 34491 N JEAN JACKSON VP COLLEGE PROGRAMS 40.00 X 178121 0 16730 CRAIG BARFIELD VP FOR BUSINESS AND FINANCE 40.00 X 176574 0 9961 MATTHEW POSLUSNY SENIOR VP & PROVOST 40.00 X 178046 0 18745 CHARLES BARTON VP INSTITUTIONAL ADVANCEMENT 40.00 X 179544 0 9761 KRISTIE OGILVIE DEAN 40.00 X 170472 0 21340 ELIZABETH WOLFINGER DEAN 40.00 X 150760 0 8352 JEFFREY HOWLETT CIO 40.00 X 143594 0 18009 JOHN MECHAM PROFESSOR 40.00 X 133637 0 5851 PAMELA GALLOWAY DIRECTOR, HUMAN RESOURCES 40.00 X 125845 0 7100 1771185 0 150340 24 0 1 0 ARAMARK CORPORATION 27310 NETWORK PLACE CHICAGO IL 606731273 DINING AND FACILITIES MGMT. 3424511 PIEDMONT SERVICE GROUP INC 1031 NOWELL ROAD RALEIGH NC 27607 FACILITIES CONTRACTOR 658651 INLAND CONSTRUCTION COMPANY 3709 AUBURN CHURCH ROAD STE B GARNER NC 27529 FACILITIES CONTRACTOR 457934 WOMBLE BOND DICKINSON (US) LLP 555 FAYETTEVILLE ST STE 1100 RALEIGH NC 27601 LEGAL SERVICES 429561 TEAMCRAFT ROOFING INC 1316 N LONG STREET SALISBURY NC 28144 FACILITIES CONTRACTOR 351762 11 35575 438315 9752173 886436 10226063 TUITION AND FEES 900099 63085268 63085268 HOUSING, DINING & OTHER 900099 8961810 8961810 WORKSHOPS & OTHER FEES 900099 1253654 1253654 73300732 984566 29108 955458 21579627 422880 16133626 14900 5446001 407980 5853981 5853981 38717 35575 28616 10101 10101 90375443 73300732 29108 6819540 25812542 25812542 1136563 905841 188669 42053 23611111 18818055 3919445 873611 1134676 904337 188356 41983 4445732 3543248 737992 164492 1928118 1536710 320068 71340 158526 158526 22100 22100 243519 243519 631500 631500 2200554 1753842 365292 81420 1120543 1053310 67233 294660 234844 48914 10902 1879910 1879910 4678330 4397630 280700 402827 402827 EXPENDITURES OF RESTRIC 3238959 3238959 PROGRAM ACTIVITIES 2618681 2618681 ADMINISTRATIVE AND OVER 2522791 2010665 418783 93343 FOOD AND FOOD SERVICE 1953211 1953211 4709571 3087827 1412327 209417 84744424 73749612 9384151 1610661 17617288 16867215 6020867 5539207 1015160 4534192 27814 24069 9150 145054785 78963875 67343679 66090910 68918819 72940698 28844825 31223203 476161 424870 1444851 910684 191718614 198555048 3289056 4368884 49197268 48625579 436804 433829 3225000 3125000 11244421 10875487 67392549 67428779 X 27854692 26637428 28276599 30584355 68194774 73904486 124326065 131126269 191718614 198555048 X 5631019 1147803 21382 X 0 1 X 1 1 1 X 0 1 X 104762705 5034435 7762488 2290322 1736125 113533181 94303471 2846969 11478429 2224032 1642132 104762705 96523500 4294862 -2734015 2228528 1552348 94303471 93872324 6035911 177435 2308463 1253707 96523500 81375442 2822900 13494986 2381943 1439061 93872324 0.21410 0.63350 0.15240 0 0 879017 351485 1230502 128445119 70966716 57478403 14474335 7997159 6477176 904829 904829 66090910 FUND OF FUNDS 23561469 F PRIVATE EQUITY 3230828 F PRIVATE REAL ESTATE FUNDS 436311 F TIMBER 773183 F REITS 3221412 F 31223203 STUDENT DEPOSITS 274180 ACCRUED RETIREMENT OBLIGATIONS 8626654 DUE TO DONORS OF TRUSTS 254996 ASSET RETIREMENT OBLIGATION 1719657 10875487 X 66197974 1147803 -25081753 -23933950 90131924 243519 243519 90375443 59397770 709407 709407 58688363 243519 25812542 26056061 84744424 PART IV, LINE 2B: THE COLLEGE HOLDS FUNDS IN A CUSTODIAL CAPACITY FOR STUDENT ORGANIZATIONS AND A RELATED ENTITY, COOPERATING RALEIGH COLLEGES. PART V, LINE 4: THE COLLEGE'S ENDOWMENT CONSISTS OF APPROXIMATELY 519 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. PART X, LINE 2: THE COLLEGE'S POLICY IS TO RECORD A LIABILITY FOR UNRECOGNIZED TAX BENEFITS, AND ANY RELATED INTEREST AND PENALTIES, WHEN IT IS MORE LIKELY THAN NOT A TAX POSITION TAKEN BY MANAGEMENT WITH RESPECT TO A TRANSACTION OR CLASS OF TRANSACTIONS WILL BE OVERTURNED BY A TAXING AUTHORITY UPON EXAMINATION. MANAGEMENT BELIEVES THERE ARE NO SUCH POSITIONS AS OF JUNE 30, 2018 AND 2017, AND ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. PART XI, LINE 2D - OTHER ADJUSTMENTS: INSTITUTIONAL GRANTS SHOWN NET OF TUITION ON FINANCIALS -25,812,542. SPECIAL EVENT EXPENSES REPORTED NET OF REVENUE 28,616. CHANGE IN POSTRETIREMENT BENEFIT OBLIGATIONS 702,173. PART XI, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT RETURN IN EXCESS OF AMOUNTS DESIGNATED FOR CURRENT OPERATIONS PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES REPORTED NET OF REVENUE 28,616. LOSS ON BOND REFINANCING 680,791. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL GRANTS SHOWN NET OF TUITION ON FINANCIALS 25,812,542. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 MEREDITH'S FULL NON-DISCRIMINATION POLICY IS PRINTED IN COLLEGE PUBLICATIONS SUCH AS THE 2017-2018 UNDERGRADUATE CATALOGUE WHICH IS DISTRIBUTED IN PRINT FORM AND ON THE COLLEGE WEBSITE. IN ADDITION, IT IS ALSO PUBLISHED IN THE NEWS AND OBSERVER, UNDERGRADUATE RECRUITMENT MATERIALS, AND GRADUATE PROGRAM RECRUITMENT MATERIALS. SCHEDULE E, PART I, LINE 6 IN FURTHERANCE OF ITS EDUCATIONAL MISSIONS, MEREDITH COLLEGE RECEIVES FUNDS IN SUPPORT OF ITS STUDENTS. EUROPE (INCLUDING ICELAND & GREENLAND) 0 1 PROGRAM SERVICES STUDY ABROAD, ALUMNI TRAVEL 778033 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STUDY ABROAD 9450 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 47100 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 23561469 0 1 0 0 0 1 24396052 0 24396052 1 0 1 1 0 0 SCHEDULE F, PART I, LINE 3: EXPENDITURES ARE ACCOUNTED FOR ON THE ACCRUAL BASIS OF ACCOUNTING. SCHEDULE F, PART IV, LINE 3 ALTHOUGH THE COLLEGE HAD AN OWNERSHIP IN CERTAIN FOREIGN CORPORATIONS (INVESTMENTS) DURING THE TAX YEAR, THE INVESTMENT AMOUNT WAS NOT HIGH ENOUGH TO RENDER THE FILING OF FORM 5471. SCHEDULE F, PART IV, LINE 4 MEREDITH COLLEGE IS AN INVESTOR IN ONE OR MORE PASSIVE FOREIGN INVESTMENT COMPANIES ("PFICS"). THEY RECEIVED NO TAXABLE DISTRIBUTIONS FROM ANY OF THE FUNDS DURING FISCAL YEAR 2018. FORM 8621 IS NOT REQUIRED DUE TO IRS GUIDANCE SET FORTH IN REG. SEC. 1.1291-1(E). X X X X X X X 1 CROUCH AND ASSOCIATES 3434 EDWARDS MILL RD RALEIGH NC 27612 FUNDRAISING 0 1310994 22100 1288894 1310994 22100 1288894 NC GOLF TOURNAMENT 19995 8585 11410 10712 4647 AUTISM GALA 54297 26990 27307 4158 5440 200 3459 74292 35575 38717 14870 5440 200 8106 28616 10101 1 INSTITUTIONAL GRANTS, FINANCIAL AID & SCHOLARSHIPS 1657 25812542 TUITION RATES FINANCIAL AID AND SCHOLARSHIPS PART I, LINE 2: MEREDITH COLLEGE FINANCIAL ASSISTANCE OFFICE HAS SYSTEMS AND INTERNAL PROCEDURES IN PLACE THAT ENSURES THE PROPER DETERMINATION, DISBURSEMENT AND MONITORING OF GRANTS AND SCHOLARSHIPS. THESE SYSTEMS AND PROCEDURES COMPLY WITH THE FEDERAL STUDENT TITLE IV AID REGULATIONS, NORTH CAROLINA STATE EDUCATION ASSISTANCE AUTHORITY RULES, AND INSTITUTIONAL POLICIES. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 JO ALLEN PRESIDENT 331028 0 0 0 3564 0 23500 0 10991 0 369083 0 0 0 N JEAN JACKSON VP COLLEGE PROGRAMS 174973 0 0 0 3148 0 8939 0 7791 0 194851 0 0 0 CRAIG BARFIELD VP FOR BUSINESS AND FINANCE 176574 0 0 0 0 0 8829 0 1132 0 186535 0 0 0 MATTHEW POSLUSNY SENIOR VP & PROVOST 176838 0 0 0 1208 0 9702 0 9043 0 196791 0 0 0 CHARLES BARTON VP INSTITUTIONAL ADVANCEMENT 173974 0 0 0 5570 0 8829 0 932 0 189305 0 0 0 KRISTIE OGILVIE DEAN 169959 0 0 0 513 0 9517 0 11823 0 191812 0 0 0 ELIZABETH WOLFINGER DEAN 149863 0 0 0 897 0 7468 0 884 0 159112 0 0 0 JEFFREY HOWLETT CIO 143186 0 0 0 408 0 7776 0 10233 0 161603 0 0 0 PART I, LINE 1A THE PRESIDENT IS PROVIDED WITH A RESIDENCE FOR PERSONAL USE AS WELL AS HOUSEKEEPING SERVICES FOR THE CONVENIENCE OF THE COLLEGE SO THAT THE PRESIDENT CAN PERFORM ESSENTIAL SCHOOL BUSINESS AND ACTIVITIES AT THE HOME. THIS RESIDENCE IS PROVIDED FOR THE CONVENIENCE OF THE COLLEGE IN HAVING THE FUNCTIONS OF THE OFFICE OF THE PRESIDENT EFFICIENTLY DISCHARGED AND AS A CONDITION OF EMPLOYMENT AS PRESIDENT OF THE COLLEGE. FOR THE BENEFIT AND CONVENIENCE OF THE COLLEGE, THE PRESIDENT'S RESIDENCE SHALL BE AVAILABLE, AND SHALL BE USED, FOR COLLEGE-RELATED BUSINESS AND ENTERTAINMENT ON A REGULAR AND CONTINUING BASIS. THE APPROXIMATE RENTAL VALUE OF THE HOME IS $3,500 PER MONTH. THESE ARE TREATED AS NONTAXABLE BENEFITS. A NORTH CAROLINA CAPITAL FACILITIES FINANCE AGENCY 561592154 65818PLG2 2016-09-29 8826029 SEE PART VI 0 0 0 B NORTH CAROLINA CAPITAL FACILITIES FINANCE AGENCY 561592154 65818PMH9 2018-03-29 40960158 SEE PART VI 0 0 0 A 165000 8926117 176521 8749596 2009 0 1 1 1 B 41026605 596792 40429813 2009 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 A 1 B 1 FORM 990, SCHEDULE K, PART I, LINE A, COLUMN (F): TO ADVANCE REFUND $7,800,000 IN AGGREGATE PRINCIPAL AMOUNT OF OUTSTANDING 2008A BONDS INITIALLY ISSUED ON APRIL 3, 2008 AND PAY RELATED ISSUANCE COSTS. FORM 990, SCHEDULE K, PART I, LINE B, COLUMN (F): TO CURRENTLY REFUND OUTSTANDING 2008A AND 2008B BONDS INITIALLY ISSUED ON APRIL 3, 2008 AND PAY RELATED ISSUANCE COSTS. FORM 990, SCHEDULE K, PART II, COLUMNS A & B, LINE 3: THE DIFFERENCE BETWEEN THE AMOUNTS ON LINE 3 AND THE ISSUE PRICES LISTED IN PART I, COLUMN E, IS DUE TO INVESTMENT EARNINGS ON BOND PROCEEDS PENDING DISBURSEMENT. FORM 990, SCHEDULE K, PART II, COLUMN A, LINE 11: $8,744,938 WAS APPLIED TO REDEEM OUTSTANDING 2008A BONDS. $4,658 WAS USED TO PAY INTEREST ON 2016 BONDS. FORM 990, SCHEDULE K, PART II, COLUMN B, LINE 11: $90,386 WAS USED TO PAY DEBT SERVICE ON 2018 BONDS. $40,339,427 WAS APPLIED TO REDEEM OUTSTANDING 2008A AND 2008B BONDS. X 49 886436 FMV 0 0 1 1 PART I, LINE 32B: FOR GIFTS OF REAL ESTATE TO THE COLLEGE, AN AGENT IS SELECTED BY THE COLLEGE TO SELL THE PROPERTY. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES IS MADE UP OF 8 TO 10 MEMBERS. THE PURPOSE OF THE COMMITTEE IS TO SERVE AT THE PLEASURE OF THE BOARD AND HAVE AUTHORITY TO ACT FOR THE BOARD ON ALL MATTERS EXCEPT AS OTHERWISE PROVIDED BY LAW AND EXCEPT FOR THE FOLLOWING, WHICH SHALL BE RESERVED FOR THE BOARD: PRESIDENTIAL SELECTION AND TERMINATION, TRUSTEE AND BOARD OFFICER ELECTION, CHANGES IN INSTITUTIONAL MISSION AND PURPOSE, INCURRING CORPORATE INDEBTEDNESS, SALE OF COLLEGE ASSETS, ADOPTION OF ANNUAL BUDGET, AND CONFERRAL OF DEGREES OR TENURE. FORM 990, PART VI, SECTION B, LINE 11B THE BUSINESS AND FINANCE COMMITTEE WILL REVIEW AND APPROVE THE 990. FOR PRIVACY PURPOSES, THE FULL BOARD ONLY RECEIVES A PUBLIC DISCLOSURE COPY OF THE 990 FOR THEIR REVIEW PRIOR TO FILING WITH THE IRS. HOWEVER, THE FORM 990 IS AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD AFFAIRS COMMITTEE MONITORS THE TRUSTEES' CONFLICT OF INTEREST POLICY INCLUDING DISTRIBUTING, COLLECTING, AND REVIEWING CONFLICT OF INTEREST FORMS ANNUALLY. IN ADDITION, THE CHAIR OF THE INVESTMENT COMMITTEE REVIEWS CONFLICT OF INTEREST FORMS FOR THE MEMBERS OF THAT COMMITTEE FOR ANY POTENTIAL CONFLICT SPECIFICALLY RELATED TO THEIR ROLE ON THAT COMMITTEE. IN THE EVENT OF A CONFLICT, THE INDIVIDUAL INVOLVED WOULD RECUSE THEMSELVES FROM ANY VOTE ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT'S COMPENSATION IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES, AN INDEPENDENT BODY. THE COMMITTEE RELIES UPON DATA FROM COMPARABLE COLLEGES OBTAINED BY NCICU AND FROM FORMS 990 OF SIMILARLY SITUATED COLLEGES AND UNIVERSITIES. IN ADDITION, THE COMMITTEE ALSO CONSIDERS THE RESULTS OF THE PRESIDENT'S ANNUAL PERFORMANCE EVALUATION. THE DECISION IS DOCUMENTED IN THE MINUTES OF THE COMMITTEE. THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES IS INDEPENDENTLY REVIEWED ON EVERY SALARY LEVEL. THE COLLEGE REVIEWS SALARY DATA FROM VARIOUS SOURCES, SUCH AS CUPA. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AND ARE AVAILABLE IN THE PRESIDENT'S ANNUAL REPORT, WHICH IS POSTED ON THE COLLEGE'S WEBSITE. THE CONFLICT OF INTEREST POLICY AND THE GOVERNING DOCUMENTS ARE NOT AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: CHANGE IN POSTRETIREMENT BENEFIT OBLIGATIONS 702,173. LOSS ON BOND REFINANCING -680,791. COOPERATING RALEIGH COLLEGES PO BOX 120 RALEIGH NC 27607 237158371 SUPPORT MEMBER INSTITUTIONS NC 501(C)(3) LINE 12A, I N/A 0 CHARITABLE REMAINDER TRUST (4) INVESTMENT NC N/A T 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0