2019-02-06T09:07:31-06:00 2018-06-30 383635706 REHMANN ROBSON LLC 555 BRIARWOOD CIRCLE STE 300 ANN ARBOR MI 48108 990 2017-07-01 381393841 CLEARY UNIVERSITY CLEA 5175483670 3750 CLEARY DR HOWELL MI 48843 JAYSON BOYERS PRESIDENT 5175483670 2019-01-28 1 KATHLEEN M UNDERHILL CPA P00589677 7347612005 2019-01-28 68.43.135.185 2019-01-28 16:45:00 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 CDFE6A776BE3106A8F3051AD7AC410AAC8A3E178 2017 2019-02-21 02:37:17Z JAYSON BOYERS 3750 CLEARY DR HOWELL MI 48843 14231240 0 X WWW.CLEARY.EDU X 1883 MI PROVIDE PRACTICAL SKILLS AND VALID CREDENTIALS TO ADVANCE STUDENTS' BUSINESS CAREERS. 22 22 274 26 219002 -37333 1834297 3134503 10041918 10314909 89812 101831 384308 568477 12350335 14119720 2427601 2860898 0 0 4562632 5065139 0 0 261687 5317375 6121043 12307608 14047080 42727 72640 20881278 22065874 11266867 12369074 9614411 9696800 TO ENRICH STUDENTS' LIVES THROUGH THE KNOWLEDGE, SKILLS, AND CREDENTIALS THAT ADVANCE CAREERS. 0 0 7292699 2860898 10671460 OPERATION OF UNIVERSITY & INSTRUCTION COST 7292699 1 1 0 0 0 0 0 1 0 1 1 0 0 1 0 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 46 0 1 274 1 1 1 0 0 0 0 1 1 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X SHELLY HOLANDA 5173383319 3750 CLEARY DR HOWELL MI 48843 JOE PARKER CHAIRMAN 2.00 X X 0 0 0 KENNETH WEINGARTZ VICE CHAIR 2.00 X X 0 0 0 RAYMOND KING III IMMEDIATE PAST CHAIR 2.00 X X 0 0 0 JOHN KUDERIK TREASURER 2.00 X X 0 0 0 MILTON WEIDMAYER VICE TREASURER 2.00 X X 0 0 0 GLYNIS MCBAIN SECRETARY 2.00 X X 0 0 0 MARGARET BORYCZKA GUPTA GOVERNANCE COMMITTEE CHAIR 2.00 X X 0 0 0 FRANK FIKE TRUSTEE 2.00 X 0 0 0 CAROL ALEXANDER TRUSTEE 2.00 X 0 0 0 PATRICK CLEARY II TRUSTEE 2.00 X 0 0 0 TIM CODD TRUSTEE 2.00 X 0 0 0 STANLEY DICKSON JR TRUSTEE 2.00 X 0 0 0 JOHN EDWARDS TRUSTEE THRU 1/1/18 2.00 X 0 0 0 ALAN KRUSE TRUSTEE 2.00 X 0 0 0 MARTY PAWLUSIAK TRUSTEE 2.00 X 0 0 0 ANNE MCKENNY TRUSTEE 2.00 X 0 0 0 DON REIMONDO TRUSTEE 2.00 X 0 0 0 RICH PERLBERG TRUSTEE 2.00 X 0 0 0 IAN SCHONSHECK TRUSTEE THRU 1/1/18 2.00 X 0 0 0 PHIL YUHASZ TRUSTEE THRU 7/11/17 2.00 X 0 0 0 KEVIN CLARK TRUSTEE EFFECTIVE 1/1/18 2.00 X 0 0 0 ADAM GENEI TRUSTEE EFFECTIVE 1/1/18 2.00 X 0 0 0 FRANK JEDELE TRUSTEE EFFECTIVE 1/1/18 2.00 X 0 0 0 NICK QUIGLEY TRUSTEE EFFECTIVE 1/1/18 2.00 X 0 0 0 BRANDON WILSON TRUSTEE EFFECTIVE 1/1/18 2.00 X 0 0 0 DOUGLAS RITTER TRUSTEE THRU 1/1/18 2.00 X 0 0 0 JAYSON BOYERS PRESIDENT 50.00 X 263215 0 16951 JUDITH L WALKER CFO THRU 2/1/18 50.00 X 133630 0 3301 MATTHEW BENNETT SENIOR VP INSTITUTIONAL AD 50.00 X 114946 0 15883 LANCE LEWIS PROVOST AND CAO 50.00 X 125374 0 11077 MARLO RENCHER VP INNOV, ENTREP AND DIVER 50.00 X 114745 0 15812 MACHELLE HOLANDA CFO EFFECTIVE 2/1/18 50.00 X 128257 0 4854 KRISTOFFER TOBBE VP TECHNOLOGY SVCS EFFECTIVE 2/1/18 50.00 X 70438 0 12433 JEFFREY BANE DEAN OF HOSPITALITY MANAGEMENT 40.00 X 101101 0 10538 1051706 0 90849 7 0 1 0 0 69778 73507 2991218 66157 3134503 TUITION AND FEES 611600 9402355 9402355 STUDENT HOUSING 611600 676227 676227 EVANCE PROGRAM 611600 132500 132500 OTHER PROGRAM SERVICES 611600 103827 103827 10314909 18391 18391 7440 0 7440 7440 7440 83440 0 83440 83440 83440 13027 69778 27543 -14516 -14516 278908 83977 194931 175834 19097 EVENT REVENUE 900099 380622 180717 199905 380622 14119720 10671460 219002 94755 X 2860898 2860898 1060647 311366 558184 191097 3377334 2483609 869548 24177 69887 42005 27494 388 244377 146881 96140 1356 312894 188063 123095 1736 27051 27051 158792 158792 1722843 114756 1608087 172124 10312 159548 2264 152868 35405 117326 137 876820 876820 225713 210087 15420 206 31460 20975 9963 522 620565 620565 756010 756010 123232 123232 OTHER 336933 236827 61196 38910 EQUIPMENT 221998 96582 125116 300 BOOKS & PERIODICALS 198167 173529 24044 594 BOOKSTORE EXPENSES 189532 189532 306935 171872 135063 14047080 7292699 6492694 261687 460767 578104 850108 790569 2701820 3699848 776946 458261 157516 164144 28347 356118 349309 19797923 5928360 13111919 13869563 84370 76866 2381714 2050863 20881278 22065874 1557543 2318886 2394097 2271998 7315227 7778190 11266867 12369074 X 7337722 7606225 987829 757904 1288860 1332671 9614411 9696800 20881278 22065874 72640 9749 0 X X 0 1 X 1 1 1 X X 0 1632437 99217 22952 73492 1681114 3118222 62611 9532 1557928 1632437 2964021 169954 9499 25252 3118222 2900900 58015 26192 21086 2964021 2829391 55204 31805 15500 2900900 0.79270 0.20730 0 0 904842 904842 12748970 2405139 10343831 2141317 533965 1607352 3503339 2986670 516669 499455 2586 496869 13869563 ARTWORK 1404513 ART HELD FOR RESALE 323900 CHARITABLE REMAINDER UNITRUST INTEREST 322450 2050863 X 11452809 9749 -2676660 -2666911 14119720 0 14119720 11370420 -2676660 -2676660 14047080 0 14047080 PART III, LINE 4: ARTHUR SECUNDA ART WORK - THE UNIVERSITY IS CREATING THE ARTHUR SECUNDA MUSEUM AT ITS LIVINGSTON CAMPUS. THE MUSEUM WILL ENHANCE THE VISIBILITY, REPUTATION AND EDUCATIONAL MISSION OF CLEARY UNIVERSITY BY REINFORCING THAT THE UNIVERSITY IS A SOPHISTICATED INSTITUTION IN WHICH STUDENTS CAN PLACE THEIR CONFIDENCE. THE ADDITION OF THE MUSEUM WILL FACILITATE STUDY IN THE FIELD OF ARTS MANAGEMENT, EXAMINATION OF THE ARTIST AS ENTREPRENEUR, AND THE USE OF THE ART TO STIMULATE CREATIVITY AMONG THE BUSINESS STUDENTS. PART V, LINE 4: THE INTENDED USE OF THE TERM AND PERMANENT ENDOWMENT FUNDS IS TO FUND STUDENT SCHOLARSHIPS. PART X, LINE 2: THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE "CODE") AND IS EXEMPT FROM SIMILAR STATE AND LOCAL TAXES. ALTHOUGH THE UNIVERSITY WAS GRANTED INCOME TAX EXEMPTION BY THE INTERNAL REVENUE SERVICE, SUCH EXEMPTION DOES NOT APPLY TO "UNRELATED BUSINESS TAXABLE INCOME". THE UNIVERSITY ANALYZES ITS FILING POSITIONS IN THE FEDERAL AND STATE JURISDICTIONS WHERE IT IS REQUIRED TO FILE INCOME TAX RETURNS, AS WELL AS ALL OPEN TAX YEARS IN THESE JURISDICTIONS, TO IDENTIFY POTENTIAL UNCERTAIN TAX POSITIONS. THE UNIVERSITY TREATS INTEREST AND PENALTIES ATTRIBUTABLE TO INCOME TAXES, AND REFLECTS ANY CHANGES FOR SUCH, TO THE EXTENT THEY ARISE, AS A COMPONENT OF ITS INSTITUTIONAL SUPPORT EXPENSE. THE UNIVERSITY HAS EVALUATED ITS INCOME TAX FILING POSITIONS FOR FISCAL YEARS 2015 THROUGH 2018, THE YEARS WHICH REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS AS OF JUNE 30, 2018. THE UNIVERSITY CONCLUDED THAT THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION IN THE UNIVERSITY'S FINANCIAL STATEMENTS. THE UNIVERSITY DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS ("UTB") (E.G., TAX DEDUCTIONS, EXCLUSIONS, OR CREDITS CLAIMED OR EXPECTED TO BE CLAIMED) TO SIGNIFICANTLY CHANGE IN THE NEXT TWELVE MONTHS. THE UNIVERSITY DOES NOT HAVE ANY AMOUNTS ACCRUED FOR INTEREST AND PENALTIES RELATED TO UTB'S AT JUNE 30, 2018 OR 2017, AND ARE NOT AWARE OF ANY CLAIMS FOR SUCH AMOUNTS BY FEDERAL OR STATE INCOME TAX AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 83,977. SPECIAL EVENTS EXPENSES 5,064. GRANTS & SCHOLARSHIPS -2,765,701. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 83,977. SPECIAL EVENTS EXPENSES 5,064. GRANTS & SCHOLARSHIPS -2,765,701. 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 POLICY IS AVAILABLE ON THE SCHOOL'S WEBSITE. SCHEDULE E, PART I, LINE 6 CLEARY UNIVERSITY PARTICIPATES IN STUDENT AID PROGRAMS SUPPORTED BY THE DEPARTMENT OF EDUCATION. SIGNATURE EVENT 82805 69778 13027 3302 19177 5064 82805 69778 13027 3302 19177 5064 27543 -14516 1 VA MILITARY GRANT 19 113474 CLEARY INSTITUTIONAL GRANT 26 42572 COMMUNITY COLLEGE & ALUMNI DISCOUNT 11 52564 NEXT STEP GRANT 22 34077 WILBURN M. BARWICK SCHOLARSHIP 27 42091 SULLIVAN ENDOWED SCHOLARSHIP 3 5000 MARJORY CLEARY MCKENNY & ARTHUR MCKENNY 2 4000 ATHLETIC SCHOLARSHIP 198 1312841 ATHLETIC HOUSING SCHOLARSHIP 86 184850 ADMISSIONS HONORS SCHOLARSHIP 54 334950 ADMISSIONS TRANSFER SCHOLARSHIP 53 233240 CLEARY BUSINESS PARTNER SCHOLARSHIP 79 175437 COMMUNITY PARTNERS MATCHING GRANT 3 3000 ALUMNI ASSOCIATION ANNUAL ENDOWED SCHOLARSHIP 4 2000 RESIDENT ASSISTANT SCHOLARSHIP 3 21600 OPPORTUNITY REFERRAL GRANT 69 50500 EMPLOYEE GRANTS 17 148562 NON ATHLETIC HOUSING SCHOLARSHIP 7 12800 DETROIT OPPORTUNITY SCHOLARSHIP 6 36856 WILMA CLEARY ENDOWED SCHOLARSHIP 1 3000 OTHER SCHOLARSHIP 1 105 RICHARDS SCHOLARSHIP 1 500 BEUTLER SCHOLARSHIP 1 750 PHI THETA KAPPA SCHOLARSHIP 2 15000 MARYGROVE 1 1450 VBF SCHOLARSHIP 1 20525 KANITZ SCHOLARSHIP 1 1000 GRADUATE ASSISTANT GRANT 2 8154 PART I, LINE 2: THE GRANTS AND SCHOLARSHIPS AWARDED BY CLEARY UNIVERSITY ARE USED TO PAY TUITION AND FEE CHARGES ON STUDENT ACCOUNTS. THE UNIVERSITY IS ABLE TO MONITOR WHETHER RECIPIENTS REMAIN STUDENTS AT THE UNIVERSITY THROUGH THE REGISTRAR'S OFFICE, AND CLASS ATTENDANCE TAKEN BY PROFESSORS. X 1 1 X X 0 0 0 0 0 0 0 0 0 JAYSON BOYERS PRESIDENT 223215 0 40000 0 0 0 11601 0 5350 0 280166 0 0 0 THOMAS SULLIVAN FORMER PRESIDENT & CEO EXECUTIVE BENEFIT PLAN X 110000 164144 0 1 1 164144 X 1 25857 INVOICE X SPORTS INVENTORY 1 18000 FMV X GRAND PIANO/FURNITURE 1 15300 FMV X SOFTWARE 1 7000 FMV 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE FINANCE COMMITTEE PRIOR TO BEING FILED AND IS RECOMMENDED BY THEM TO THE BOARD OF TRUSTEES FOR APPROVAL TO FILE. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS AND EMPLOYEES ARE ASKED ABOUT ANY CONFLICT OF INTEREST BASED ON THE CONFLICT OF INTEREST POLICY. IF A CONFLICT EXISTS, THE ASSOCIATION WITH THE CONFLICTING INTEREST IS DISCONTINUED OR THE BOARD MEMBER OR EMPLOYEE IS NOT SELECTED TO SERVE. FORM 990, PART VI, SECTION B, LINE 15 WE ESTABLISH A BENCHMARK FOR EVERY EMPLOYEE POSITION BASED ON ONE OF THE FOLLOWING: CUPA - HR - COLLEGE & UNIVERSITY PROFESSIONAL ASSOCIATION - HUMAN RESOURCES SALARY SURVEY RESULTS OR GAASHRM - GREATER ANN ARBOR SOCIETY FOR HUMAN RESOURCE MANAGEMENT SALARY SURVEY RESULTS. EVERY EMPLOYEE POSITION IS COMPARED TO A SIMILAR POSITION IN ONE OF THESE SURVEYS (CUPA IS USED IF A POSITION MATCH EXISTS) THE AVERAGE SALARY FOR LIKE INSTITUTIONS OR SIMILAR SIZED NON-PROFITS IS USED AS OUR BENCHMARK WITH A MARGIN OF 15% ON EITHER SIDE OF THE AVERAGE TO ESTABLISH OUR SALARY "RANGE" FOR THE POSITION. ACTUAL SALARY FOR AN EMPLOYEE IS BASED ON EXPERIENCE AND EMPLOYMENT DURATION THAT MOVES ONE'S SALARY UP WITHIN THE SALARY RANGE. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 114,756. MANAGEMENT AND GENERAL EXPENSES 1,608,087. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,722,843. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR