2018-03-22T10:41:27-05:00 2017-06-30 GRANT THORNTON LLP 171 N CLARK ST SUITE 200 CHICAGO IL 60601 990 2016-07-01 362169145 Elmhurst College % KAREN KISSEL ELMH 6306173012 190 Prospect Avenue Elmhurst IL 601263296 KAREN KISSEL VP FINANCE/CFO 6306173012 2018-03-15 true Bridget T Roche P00666837 3128560200 209.220.64.52 36941220180815000000 2018-03-22 P DAB661DD7D7689AC45C6D79FC15293F62858B44F B3512813ADAE11F31647FE2EAC1E4104257FEA5A 2016 2021-01-29 14:40:06Z KAREN KISSEL 190 Prospect Avenue Elmhurst IL 601263296 161691035 false X www.elmhurst.edu X 1942 IL ELMHURST COLLEGE WORKS WITH PASSION AND COMMITMENT TO FOSTER LEARNING, BROADEN KNOWLEDGE, AND ENRICH CULTURE THROUGH PEDAGOGICAL INNOVATION, SCHOLARSHIP AND CREATIVE EXPRESSION. 34 33 1729 798 323252 2276727 4460695 104013911 109088410 3849146 8919837 2063366 1680179 112203150 124149121 46630341 47890920 0 0 43529433 40961213 0 0 2135818 24994035 24756895 115153809 113609028 -2950659 10540093 166648709 176351297 94121664 84588495 72527045 91762802 X ELMHURST COLLEGE INSPIRES ITS STUDENTS TO FORM THEMSELVES INTELLECTUALLY AND PERSONALLY AND TO PREPARE FOR MEANINGFUL AND ETHICAL WORK IN A MULTICULTURAL, GLOBAL SOCIETY. WORKING TOGETHER WITH PASSION AND COMMITMENT, WE FOSTER LEARNING, BROADEN KNOWLEDGE, AND ENRICH CULTURE THROUGH PEDAGOGICAL INNOVATION, SCHOLARSHIP, AND CREATIVE EXPRESSION. false false 73601503 47890920 108789705 INSTRUCTION - ELMHURST COLLEGE PROVIDES POST-SECONDARY EDUCATION THROUGH APPROXIMATELY 22 ACADEMIC DEPARTMENTS AND OFFERS MORE THAN 60 MAJORS IN EDUCATION, THE HUMANITIES, NATURAL AND SOCIAL SCIENCES, BUSINESS ADMINISTRATION, NURSING, AND FROM JAZZ STUDIES TO EXERCISE SCIENCE. WE ALSO OFFER MORE THAN 15 GRADUATE PROGRAMS AND 15 PRE-PROFESSIONAL PROGRAMS. IN ADDITION THE ELMHURST LEARNING AND SUCCESS ACADEMY OFFERS A NON-DEGREE PROGRAM FOR YOUNG ADULTS WITH LEARNING, INTELLECTUAL, COGNITIVE, PHYSICAL, AND/OR SENSORY DISABILITIES. SCHOLARSHIPS AND GRANTS - WE ASSIST OUR STUDENTS WITH A COMPREHENSIVE RANGE OF FINANCIAL AID PROGRAMS. THESE INCLUDE INSTITUTIONAL MERIT-BASED SCHOLARSHIPS AND INSTITUTIONAL AND GOVERNMENTAL NEED-BASED GRANTS. APPROXIMATELY 90% OF THE FULL TIME UNDERGRADUATE STUDENTS WHO ENTERED COLLEGE IN THE FALL RECEIVED SUCH SCHOLARSHIPS AND GRANTS. 9618357 298705 STUDENT SERVICES - INCLUDES STUDENT AFFAIRS, ADMISSIONS, REGISTRAR, FINANCIAL AID COUNSELING, SOCIAL AND CULTURAL DEVELOPMENT, WELLNESS CENTER, AND ATHLETICS. STUDENT LIFE AT ELMHURST IS ACTIVE AND CREATIVE ALLOWING STUDENTS TO GET INVOLVED IN DIVERSE AREAS INCLUDING STUDENT GOVERNMENT, 'THE LEADER' STUDENT NEWSPAPER, BLACK STUDENT UNION, HABITAT FOR HUMANITY, SAGE (STRAIGHTS AND GAYS FOR EQUALITY), H.A.B.L.A.M.O.S. (A LATINO STUDENT ORGANIZATION), MODEL UN, WRSE RADIO STATION, AND MANY OTHER GROUPS AS WELL AS INTERCOLLEGIATE SPORTS AND INTRAMURAL ACTIVITIES. 6413506 ACADEMIC SUPPORT - ACADEMIC DEAN, LIBRARY SERVICES, ACADEMIC ADVISING AND ACADEMIC COMPUTING ARE INCLUDED IN ACADEMIC SUPPORT. THE A.C. BUEHLER LIBRARY PROVIDES MANY TECHNOLOGICALLY ADVANCED SERVICES FOR INSTRUCTIONAL AND INFORMATIONAL RESEARCH, OR FOR PERSONAL ENJOYMENT WITH WIRELESS ACCESS THROUGHOUT. 89633366 true true false true false false false true false true true true false false true true true false true false true true false false true false false false true true true false false false false false false false false false false true false false false false true false false false true 220 0 true 1729 true true true false false false false true true false false false false X 34 33 false false false false false false false true true false false true true true true true true true true false X KAREN KISSEL 6306173012 190 PROSPECT AVENUE Elmhurst IL 601263296 Barbara J Lucks Chair 3.1 0.0 X 0 0 0 Edward J Momkus Vice Chair 1.0 0.0 X 0 0 0 The Honorable William J Bauer Trustee 0.3 0.0 X 0 0 0 Julius Wesley Becton III Trustee 0.6 0.0 X 0 0 0 David R Bertran Trustee 0.8 0.0 X 0 0 0 Sergio E Acosta Trustee 0.3 0.0 X 0 0 0 Susan Bowers Trustee 0.5 0.0 X 0 0 0 Kent T Dahlgren Trustee 0.6 0.0 X 0 0 0 Alan J Brinkmeier Trustee 0.6 0.0 X 0 0 0 Kenne P Bristol Trustee 1.0 0.0 X 0 0 0 William A Castellano Trustee 0.5 0.0 X 0 0 0 Julie Curran Trustee 0.9 0.0 X 0 0 0 Sharon Reese Dalenberg Trustee 0.3 0.0 X 0 0 0 Dr Cathy Doucette Trustee 0.5 0.0 X 0 0 0 Joel G Herter Trustee 0.6 0.0 X 0 0 0 Thomas A Kloet Trustee 0.8 0.0 X 0 0 0 Alfred N Koplin Trustee 0.1 0.0 X 0 0 0 Rajeev Khanna Trustee 0.5 0.0 X 0 0 0 Hugh H McLean Trustee 0.8 0.0 X 0 0 0 Sarah Clarin Trustee 0.4 0.0 X 0 0 0 Ronald L Luken Trustee 1.0 0.0 X 0 0 0 Bill Nelson Trustee 0.4 0.0 X 0 0 0 Paula Pforzheimer Trustee 0.6 0.0 X 0 0 0 Virginia Prochaska Trustee 0.6 0.0 X 0 0 0 Jean E Sander Trustee 0.8 0.0 X 0 0 0 Rudolf G Schade Jr Trustee 0.5 0.0 X 0 0 0 Eva W Tameling Trustee 0.4 0.0 X 0 0 0 L Bernard Jakes Trustee 0.2 0.0 X 0 0 0 Rev Robert O Ullman Trustee 0.9 0.0 X 0 0 0 Russell G Weigand Trustee 0.7 0.0 X 0 0 0 James S Yerbic Trustee 1.1 0.0 X 0 0 0 Judith A Paice Trustee 0.4 0.0 X 0 0 0 THE honorable Kevin L York Trustee 0.9 0.0 X 0 0 0 JoAnn M McGuinness Trustee 0.8 0.0 X 0 0 0 Frank Rufolo Trustee 0.4 0.0 X 0 0 0 Troy VanAken President 50.0 0.0 X X 175776 0 51030 Karen Brown-Kissel VP for Finance & Admin/CFO 50.0 0.0 X 178006 0 42131 Joseph R Emmick THRU 22817 VP FOR DEVELOPMENT/ALUMNI 50.0 0.0 X 155032 0 31799 Heather Hall Interim VP of Academic Affrs 50.0 0.0 X 115860 0 11000 James Kulich THRU 9116 Professor 50.0 0.0 X 132912 0 19640 Margaret Howes Exec. Director Development 50.0 0.0 X 133169 0 22048 Timothy Ricordati Dean of Admission and SPS 50.0 0.0 X 160513 0 25569 Larry Carroll Executive Director, CPE 50.0 0.0 X 127511 0 23449 Gary Wilson Professor Business Admin 50.0 0.0 X 127392 0 17463 Dr Stephen Alan Ray former President 0.0 0.0 X 243750 0 0 Larry Braskamp THRU 63016 Interim President 50.0 0.0 X 159720 0 40667 1709641 0 284796 26 true true false Ruffalo Noel-Levitz LLC PO Box 718 DES MOINES IA 503080718 Admission Consulting 437871 Grant Thornton LLP 171 N CLARK SUITE 200 CHICAGO IL 60601 Accounting 147908 The Global Gurus LLC 311 Elm St 214 DALLAS TX 75226 Study Abroad Travel 121046 Hyatt-Fennell LLc PO Box 214 CONWAY PA 15027 Legal 108488 Lee Daniels Associates LLC 105 S YORK RD ELMHURST IL 60126 Gov. Consulting 106564 5 17887 530914 3911894 498463 4460695 STUDENT TUITION AND FEES 812900 102918815 102918815 RESIDENCE HALLS 721000 5775042 5738833 36209 COMMUNITY EDUCATION 812900 47024 47024 OTHER ATHLETIC, ARTS & CULTURE 812900 298705 298705 GRANT AND LOAN ADMINISTRATION FEES 812900 48824 48824 109088410 1298771 -1129 1297642 0 0 0 0 0 45133054 37511988 7621066 7621066 73326 7547740 21622 17887 29926 -8304 -8304 0 0 0 0 0 0 FOOD SERVICE 722320 192032 92437 99595 OUTSIDE CONFERENCE & FACILITIES RENTALS 561000 188785 108569 80216 OUTSIDE PRINTING 900099 2898 2898 1304768 13840 1290928 1688483 124149121 109052201 323252 10310715 0 47817226 47817226 73694 73694 0 1582876 147947 1317062 117867 0 30764700 23849953 5914499 1000248 1044686 831448 179584 33654 5365212 4121091 1064772 179349 2203739 1705171 424935 73633 395566 377117 18449 98121 96871 1250 147908 147908 26173 26173 0 105872 105872 3887526 1616305 1997820 273401 1690630 1243436 446140 1054 1601003 1124918 303335 172750 1349964 282084 1066559 1321 5224 5224 2531669 200164 2329458 2047 2615104 1610744 896080 108280 0 0 2415772 793738 1622034 0 4114713 3079475 894125 141113 400677 113746 286931 DEBT SERVICE FEES 957399 957399 EQUIPMENT RENTAL/MAINTENANCE 575245 173655 398519 3071 LIBRARY BOOKS & PERIODICALS 484047 453448 30599 MEMBERSHIPS & SUBSCRIPTIONS 207890 102335 99100 6455 1146392 287564 856952 1876 113609028 89633366 21839844 2135818 1849213 2320876 4368406 3107703 1840046 5072905 1206056 1162281 0 0 0 0 1365281 1249604 142366 80002 1004985 1603037 141581646 80249316 62459145 61332330 6010077 899440 81557504 94383722 0 0 0 0 4845630 5139397 166648709 176351297 7339242 6159464 0 0 2213130 3321402 56626514 56630906 0 0 0 0 3000000 0 0 0 24942778 18476723 94121664 84588495 X 27842818 42907609 16621609 30101878 28062618 18753315 72527045 91762802 166648709 176351297 X 10540093 2267608 6428056 X false true X false true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false false false false true 26173 false false 26173 false PAID STAFF OR MANAGEMENT SCHEDULE C, PART II-B, LINE 1B STAFF HAVE MADE PERIODIC VISITS TO SPRINGFIELD, ILLINOIS TO LOBBY OUR STATE LEADERS. DIRECT CONTACT SCHEDULE C, PART II-B, LINE 1G ELMHURST COLLEGE CONTACTS LEGISLATORS, MEMBERS OF LEGISLATIVE STAFF, AS WELL AS VARIOUS DEPARTMENTS AND AGENCIES. LOBBY EFFORTS SUPPORT HIGHER EDUCATION POLICY AND FUNDING ISSUES. ELMHURST CONTACTED OFFICIALS WITH REGARD TO THE FOLLOWING ISSUES: -CONTINUATION OF MAP GRANT FUNDING -OTHER STATE GRANT FUNDING X X X false 90442021 1121035 10605181 1307032 -601444 101462649 96373053 590339 -2390895 1300730 2829746 90442021 101733079 288061 2675525 1255561 7068051 96373053 94009780 405336 14396484 1189518 5889003 101733079 89570085 1205046 7921832 1259085 3428098 94009780 0.56030 0.28630 0.15340 true false 3036281 3036281 105281180 54742944 50538236 16281723 14998673 1283050 16982462 10507699 6474763 61332330 COMMINGLED FUNDS 69511234 F LIMITED PARTNERSHIPS 24872488 F 94383722 0 INTEREST RATE SWAP AGREEMENT 13224293 ASSET RETIREMENT OBLIGATION 1233949 STUDENT LOAN ADVANCES FROM US GOVT 1148717 RESTRUCTURING LIABILITY 501429 LIFE INCOME AGREEMENTS PAYABLE 253246 CAPITAL LEASE OBLIGATION 188208 OTHER LIABILITIES 1926881 18476723 X 84292099 2267608 5861069 8128677 76163422 105872 47879827 47985699 124149121 65056342 -566987 -566987 65623329 105872 47879827 47985699 113609028 FINANCIAL STATEMENT FOOTNOTE SCHEDULE D, PART III, LINE 1A Purchases of library books are capitalized based on the individual book cost compared to the capitalization policy. The library books not capitalized are recorded as expenses. Works of art are capitalized if the cost or fair market value is known at the time of receipt or purchase, per the capitalization policy. DESCRIPTION OF ORGANIZATION'S COLLECTIONS SCHEDULE D, PART III, LINE 4 THE AFRICAN COLLECTIONS, PROFESSIONAL COLLECTIONS AND HISTORIC PORTRAIT COLLECTIONS OF PAINTINGS, DRAWINGS, LITHOGRAPHS, PHOTOGRAPHS, AND SCULPTURES ARE MADE AVAILABLE TO STUDENTS, FACULTY AND STAFF AND OUTSIDE CONSTITUENTS FOR THEIR EDUCATIONAL VALUE, FOR LECTURES AND PLEASURES OF VIEWING. INTENDED USES OF ENDOWMENT FUNDS SCHEDULE D, PART V, LINE 4 THE PURPOSE OF THE ENDOWMENT IS TO SUPPORT THE COLLEGE AND ITS MISSION OVER THE LONG TERM. ACCORDINGLY, THE PRIMARY INVESTMENT OBJECTIVES OF THE ENDOWMENT ARE TO: A) PRESERVE AND INCREASE LONG-TERM REAL PURCHASING POWER OF THE FUNDS' PRINCIPAL B) PROVIDE A STABLE SOURCE OF FINANCIAL SUPPORT FOR THE COLLEGE'S ANNUAL OPERATING BUDGET PER POLICY SET BY THE BOARD OF TRUSTEES C) PROVIDE ONGOING FINANCIAL SUPPORT IN THE FORM OF SCHOLARSHIPS, AWARDS, FACULTY CHAIRS, LECTURESHIP, BOOK FUNDS AND OTHER SPECIFIED PURPOSES IN ACCORDANCE WITH THE BOARD OF TRUSTEES' INVESTMENT POLICIES AND DONOR AGREEMENTS. LIABILITY FOR UNCERTAIN TAX POSITION (ASC 740) SCHEDULE D, PART X, LINE 2 THE COLLEGE HAS RECEIVED A FAVORABLE DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE STATING THAT IT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986 (IRC), EXCEPT FOR INCOME TAXES PERTAINING TO UNRELATED BUSINESS INCOME. THE FINANCIAL ACCOUNTING STANDARDS BOARD ISSUED GUIDANCE THAT REQUIRES TAX EFFECTS FROM UNCERTAIN TAX POSITIONS TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS ONLY IF THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. MANAGEMENT HAS DETERMINED THERE ARE NO MATERIAL UNCERTAIN POSITIONS THAT REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS. THE COLLEGE HAS NOT ACCRUED ANY PROVISION FOR INCOME TAXES AS THE COLLEGE HAS HAD NO SIGNIFICANT UNRELATED BUSINESS INCOME. THERE IS NO INTEREST OR PENALTIES RECOGNIZED IN THE STATEMENTS OF ACTIVITIES OR STATEMENTS OF POSITION. SUPPLEMENTAL DESCRIPTION - OTHER SCHEDULE D, PART XI, LINE 2D CHANGE IN VALUE OF INTEREST-RATE SWAP.................$5,809,379 CHANGE IN BENEFICIAL INTEREST IN TRUSTS..................$51,690 TOTAL.................................................$5,861,069 SUPPLEMENTAL DESCRIPTION - OTHER SCHEDULE D, PART XI, LINE 4B SCHOLARSHIPS AND GRANTS..............................$47,817,226 ANNUITY PAYMENTS.........................................$28,760 RECLASSES AND ROUNDING..................................$(9,925) FUNDRAISING EXPENSES...................................$(29,926) PAYMENTS TO NON-US CAMPUSES..............................$73,694 TOTAL................................................$47,879,827 SUPPLEMENTAL DESCRIPTION - OTHER SCHEDULE D, PART XII, LINE 2D RESTRUCTURING PAYMENTS................................$(566,987) SUPPLEMENTAL DESCRIPTION - OTHER SCHEDULE D, PART XII, LINE 4B SCHOLARSHIPS AND GRANTS..............................$47,817,226 ANNUITY PAYMENTS.........................................$28,760 RECLASSES AND ROUNDING..................................$(9,925) FUNDRAISING EXPENSES...................................$(29,926) PAYMENTS TO NON-US CAMPUSES..............................$73,694 TOTAL................................................$47,879,827 true true true true true true true false false false false false false false false true false true PUBLICATION OF RACIALLY NONDISCRIMINATORY POLICY SCHEDULE E, PART I, LINE 3 ELMHURST COLLEGE POLICY IS THAT OF NON-DISCRIMINATION OF THE PUBLIC SERVED BY THE INSTITUTION AND WITH RESPECT TO THE COLLEGE PERSONNEL. ADVERTISEMENTS, PUBLICATIONS, BROCHURES, APPLICATIONS FOR ADMISSION, ETC., CONTAIN A STATEMENT TO THE EFFECT THAT THE COLLEGE COMPLIES WITH THE FEDERAL NON-DISCRIMINATION REGULATIONS, AND THEREBY DOES NOT DISCRIMINATE ON THE BASIS OF RACE, GENDER, RELIGION, COLOR, NATIONAL ORIGIN, AGE, SEXUAL ORIENTATION, OR HANDICAP DISABILITY. GOVERNMENT ASSISTANCE SCHEDULE E, PART I, LINE 6A THE COLLEGE RECEIVES GOVERNMENTAL FINANCIAL AID, GRANTS AND ASSISTANCE FROM THE US DEPARTMENT OF EDUCATION, THE NATIONAL SCIENCE FOUNDATION, AND THE CITY OF ELMHURST. true Europe (Including Iceland and Greenland) Grantmaking Study Abroad 73694 73694 73694 Europe (Including Iceland and Greenland) study abroad 73694 WIRE TRANS 1 false false false false false false PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS OUTSIDE THE U.S. SCHEDULE F, PART I, LINE 2 The study abroad department manages program and contractual terms of performance, including selecting credentialed universities, and obtains student completion documentation. There are a few number of instances in which our college sends students overseas for a semester and incurs an expense from the receiving university. The majority of study abroad instances are within contractual exchange arrangements within a network of international universities and dictated by contractual terms in which no money is exchanged. The amount of students who are enrolled at network universities and study at our campus for 1 or 2 semesters is equivalent to the amount of our students studying abroad. Football 30735 12503 18232 19209 5221 Bluejay Backer 8774 5384 3390 1000 4496 0 39509 17887 21622 20209 9717 29926 -8304 true SEOG Fed supplemental Grant 1168 256160 N/A N/A Endowed Scholarships 472 1307031 N/A N/A Donor Funded Scholarship 271 340824 N/A N/A Institutionally Funded 3875 45913210 N/A N/A SCHEDULE I, PART I, LINE 2 PROCEDURE FOR MONITORING THE USE OF GRANT FUNDS INSIDE THE U.S. THE COLLEGE OFFERS A WIDE VARIETY OF MERIT AND NEED-BASED SCHOLARSHIPS AND AWARDS TO MATRICULATING STUDENTS. MERIT AWARDS ARE GIVEN IN RECOGNITION OF VARIOUS ACHIEVEMENTS AS SPECIFIED IN DONORS' CORRESPONDENCE AND DOCUMENTS, OR BY COLLEGE POLICY. NEED-BASED AWARDS ARE PROVIDED BASED ON THE INCOME LEVEL, AVAILABILITY OF AWARDS OFFERED ELSEWHERE AND SIMILAR STANDARDS. THE COLLEGE'S FINANCIAL AID OFFICE USES VARIOUS METHODS FOR THE FAIR DISBURSEMENT OF GRANT FUNDS WITHIN THE REQUIREMENTS SET BY EACH GRANT SOURCE TO MONITOR COMPLIANCE. THE COLLEGE PRIMARILY MAKES SCHOLARSHIP GRANTS THAT HELP OFFSET TUITION AND OTHER EDUCATIONAL COSTS OF THE STUDENTS, WITH MOST DIRECTLY CREDITED AGAINST THE APPLICABLE STUDENT ACCOUNT, WHICH ASSURES PROPER USE. THE AMOUNT OF THE GRANT IS ADJUSTED BY THE FINANCIAL AID OFFICE, AS NECESSARY, BASED ON ANY SUBSEQUENT CHANGES AFFECTING THE STUDENT'S ORIGINAL ELIGIBILITY. X X X true true X X X X X true false false false false false false false false Troy VanAken President 175588 0 0 0 188 0 8875 0 42155 0 226806 0 0 0 Karen Brown-Kissel VP for Finance & Admin/CFO 177588 0 0 0 418 0 9400 0 32731 0 220137 0 0 0 James Kulich THRU 9116 Professor 132210 0 0 0 702 0 6187 0 13453 0 152552 0 0 0 Joseph R Emmick THRU 22817 VP FOR DEVELOPMENT/ALUMNI 154683 0 0 0 349 0 8111 0 23688 0 186831 0 0 0 Dr Stephen Alan Ray former President 0 0 0 0 243750 0 0 0 0 0 243750 0 0 0 Larry Braskamp THRU 63016 Interim President 129913 0 0 0 29807 0 7740 0 32927 0 200387 0 0 0 Margaret Howes Exec. Director Development 132733 0 0 0 436 0 6924 0 15124 0 155217 0 0 0 Timothy Ricordati Dean of Admission and SPS 158897 0 0 0 1616 0 8453 0 17116 0 186082 0 0 0 Larry Carroll Executive Director, CPE 127511 0 0 0 0 0 5345 0 18104 0 150960 0 0 0 Charles Goehl Professor Kinesiology 122452 0 0 0 899 0 4558 0 23609 0 151518 0 0 0 HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE SCHEDULE J, PART I, LINE 1A THE PRESIDENT IS BEING PROVIDED A HOUSE AS A CONVENIENCE TO THE COLLEGE AT 360 COTTAGE HILL AVENUE IN ELMHURST. THIS ALLOWS THE INDIVIDUAL TO CONDUCT BUSINESS AFFAIRS AND BE AVAILABLE TO RESPOND TO EMERGENT SITUATIONS THAT MAY ARISE. AS A CONDITION OF EMPLOYMENT, THE PRESIDENT OF ELMHURST COLLEGE IS REQUIRED TO RESIDE AT THE RESIDENCE THAT ALSO SERVES AS A VENUE TO CARRY OUT REGULAR COLLEGE BUSINESS INCLUDING ENTERTAINMENT OF TRUSTEES, EMPLOYEES, STUDENTS, DONORS, AND GUESTS OF THE COLLEGE. IRS FORM 990 INSTRUCTIONS REQUIRE THAT THE FAIR MARKET VALUE OF HOUSING PROVIDED TO EMPLOYEES BE REPORTED ON FORM 990, PART VII, SECTION A AND SCHEDULE J, PART II. FOR TAX YEAR 2017 THE VALUE OF THE RESIDENCE IS CONSERVATIVELY ESTIMATED TO BE $65,382. THE COLLEGE HAS DETERMINED THAT THE VALUE OF THE HOUSING IS NOT CONSIDERED TAXABLE INCOME TO THE PRESIDENT TROY VAN AKEN for 6 months ($32,691) and interim president Larry Braskamp for 6 months ($32,691) AS PROVIDED FOR IN INTERNAL REVENUE CODE SECTION 119. DURING TAX YEAR 2017, THE PRESIDENT and interim president MADE THE RESIDENCE their HOME FOR THE MONTHS THEY HELD THE POSITION. SCHEDULE J, PART II, COLUMN (D) INCLUDES $65,382 OF VALUE ASSOCIATED WITH THE USE OF THE RESIDENCE PROVIDED BY THE COLLEGE. TRAVEL FOR COMPANIONS SCHEDULE J, PART I, LINE 1A TRAVEL EXPENSE REIMBURSEMENT FOR COMPANIONS IS ONLY ALLOWED FOR THE PRESIDENT AS PER HIS CONTRACT. ACCORDING TO HIS CONTRACT, WHEN DR. VANAKEN'S SPOUSE IS REQUIRED TO ATTEND AN EVENT IN WHICH DR. VANAKEN IS REPRESENTING THE COLLEGE ON OFFICIAL COLLEGE BUSINESS, THE BUSINESS RELATED TRAVEL EXPENSES FOR DR. VANAKEN'S SPOUSE WILL ALSO BE REIMBURSED BY THE COLLEGE. THE SPOUSE'S TRAVEL IS NOT CONSIDERED TAXABLE only WHEN THE PURPOSE IS TO CONDUCT BUSINESS ON BEHALF OF THE COLLEGE. THIS CONTRACT IS REVIEWED BY THE HUMAN RESOURCES COMMITTEE AND APPROVED BY THE FULL BOARD OF TRUSTEES. PERSONAL SERVICES (E.G., MAIL, chauffeur, CHEF) SCHEDULE J, PART I, LINE 1A AN OUTSIDE SERVICE IS USED AS NEEDED TO MAINTAIN OR TO PROVIDE ANY OTHER CLEANING SERVICES NECESSARY FOR THE BUSINESS FUNCTION OF THE PRESIDENT'S HOUSE. SEVERANCE OR CHANGE OF CONTROL PAYMENTS SCHEDULE J, PART I, LINE 4A FORMER PRESIDENT ALAN RAY SEVERANCE OF $243,750. A Illinois Educational Facilities Authority 521297563 4520017G9 2003-09-18 12000000 BUILDINGS false false false B Illinois Finance Authority 861091967 45200BW79 2007-02-22 25000000 BUILDINGS & PARKING false false false C Illinois Finance Authority 861091967 999999999 2016-12-31 20200000 refunding of 1998 and 1999 bonds false false false A 0 0 12096432 0 0 943690 162835 52641 0 0 10937266 0 2006 true false true true B 0 0 26053568 0 0 1964791 320560 22000 0 0 23746217 0 2010 true false true true C 0 0 20200000 0 0 0 200000 0 0 0 20000000 0 2002 true false true true A false false true true false 0 true false false true B false false true true false 0 0.02000 0.02000 true false false true C false false true true false 0 0.03500 0.03500 true false false true A false false false true true true JP MORGAN CHASE 16.25 false false false 0 false true B false false false true true true BANK OF AMERICA NA 25.6 false false false 0 false true C false false false true true true JP MORGAN CHASE 16.25 false false false 0 false true A true B true C true DESCRIPTION OF TAX EXEMPT BOND PURPOSE SCHEDULE K, PART I, COL. (F), LINE A DESCRIPTION OF TAX PURPOSE THE BONDS WERE ISSUED TO (I) FINANCE, REFINANCE, AND REIMBURSE THE COSTS OF THE ACQUISITION, CONSTRUCTION, RENOVATION, IMPROVEMENT OR EQUIPPING OF EDUCATIONAL FACILITIES, AND (II) REFINANCE TAXABLE DEBT THAT ORIGINALLY FINANCED A PORTION OF THE COSTS OF A SPRINKLER SYSTEM IN RESIDENCE HALLS. ACCORDINGLY, A PORTION OF THIS ISSUE CURRENTLY REFUNDED TAXABLE DEBT OF ELMHURST COLLEGE FOR FEDERAL TAX PURPOSES. DESCRIPTION OF TAX EXEMPT BOND PURPOSE SCHEDULE K, PART I, COL. (F), LINE B DESCRIPTION OF TAX PURPOSE THE BONDS WERE ISSUED TO (I) FINANCE, REFINANCE OR REIMBURSE THE COSTS OF ACQUISITION, CONSTRUCTION, RENOVATION, IMPROVEMENT AND EQUIPPING OF EDUCATIONAL FACILITIES, AND (II) REFINANCE TAXABLE DEBT THAT ORIGINALLY FINANCED EDUCATIONAL FACILITIES. ACCORDINGLY, A PORTION OF THIS ISSUE CURRENTLY REFUNDED TAXABLE DEBT OF ELMHURST COLLEGE FOR FEDERAL TAX PURPOSES. DESCRIPTION OF TAX EXEMPT BOND PURPOSE SCHEDULE K, PART I, COL. (F), LINE C DESCRIPTION OF TAX PURPOSE THE BONDS WERE ISSUED TO (I) CURRENTLY REFUND AND REDEEM ALL OF THE OUTSTANDING SERIES 1998 ELMHURST COLLEGE BONDS (II) CURRENTLY REFUND AND REDEEM ALL OF THE OUTSTANDING SERIES 1999 ELMHURST COLLEGE BONDS, AND (III) FINANCE OR REIMBURSE THE COLLEGE FOR CERTAIN OF COSTS INCURRED IN CONNECTION WITH THE ISSUANCE OF THE BOND AND CURRENT REFUNDING REDEMPTION OF THE REFUNDED BONDS. SCHEDULE K, PART II, LINE 3 TOTAL PROCEEDS OF ISSUE: FOR COLUMNS a AND b OF PART II, LINE 3 DOES NOT MATCH PART I, COLUMN (E) ISSUE PRICE, AS THE AMOUNTS REPORTED INCLUDE INVESTMENT EARNINGS ON THE PROCEEDS. REBATE COMPUTATION DATE SCHEDULE K, PART IV, COLUMN A, LINE 2C: REBATE COMPUTATION PERFORMED 10/30/2008. REBATE COMPUTATION DATE SCHEDULE K, PART IV, COLUMN B, LINE 2C: REBATE COMPUTATION PERFORMED 3/20/2012. REBATE COMPUTATION DATE SCHEDULE K, PART IV, COLUMN C, LINE 2C: REBATE COMPUTATION PERFORMED 5/26/2017. X 7 471618 market value X PRINTING AND ADVERTISING 3 21545 MARKET VALUE X MEDICAL SUPPLIES 1 5300 MARKET VALUE false true false SCHEDULE M, PART I, COLUMN B ELMHURST COLLEGE IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. 1098-T FORMS FORM 990, PART V, LINE 1A THE TOTAL ON THIS LINE DOES NOT INCLUDE 4,488 FORM 1098-TS, WHICH THE COLLEGE IS REQUIRED TO FILE WITH THE IRS AND PROVIDE TO ITS U.S. PERSON STUDENTS. AUTHORITY DELEGATED TO Executive Committee Form 990, Part VI, Line 1a The Executive Committee shall consist of the chair and vice chair of the board of Trustees; the president of the College; the chairs of the Business, Development and Faculty and Curriculum Committees; the trustee who is the immediate past chair of the Board of Trustees; and two trustees who serve as At Large members of the Committee. The At Large members will be recommended by the Trusteeship Committee to the Board for approval, and will serve a term of two years on a rotating basis. The chair of the Board of Trustees May designate any trustee who is not member of the Executive Committee to serve as a member of the Executive Committee at any specified meeting of the Executive Committee. The Executive Committee shall be responsible for the periodic review and assessment of the president. The Executive Committee shall serve as a salary review and personnel committee and as a final reviewing committee for grievances, and shall consider confidential matters brought by individual trustees. The Executive Committee shall act for the Board between regular sessions of the board in such matters as in the Judgment of the chair of the Executive Committee shall require immediate action, with such actions subject to ratification and review of the Board, and shall transact other business as may be committed to it by the Board. The Executive Committee shall serve as a planning committee, monitor the planning as presented annually by the president, provide strategic overview and oversight of committee activities relating to such plans, and recommend to the Board of Trustees the institutional plans that are in the best interest of the College. The Committee may invite other members of the Board of Trustees to attend a meeting of the Executive Committee with voice but not vote. FORM 990 REVIEW PROCESS FORM 990, PART VI, LINE 11B THE FINAL REVIEW FORM 990 AND ITS VARIOUS SCHEDULES WERE PREPARED BY A NATIONAL CPA FIRM, AND THEN WERE REVIEWED BY THE KEY OFFICERS OF THE ORGANIZATION PRIOR TO MAKING IT AVAILABLE TO THE BOARD OF TRUSTEES. AFTER THE KEY OFFICERS REVIEWED THE FORM, IT WAS DISTRIBUTED TO THE AUDIT COMMITTEE OF THE TRUSTEES AT THEIR SPRING MEETING. IDENTIFIED NECESSARY CHANGES WERE INCORPORATED FOLLOWING THE BOARD REVIEW PROCESS AND A FINAL COPY OF THE FILING WAS MADE AVAILABLE TO ALL MEMBERS OF THE BOARD OF TRUSTEES PRIOR TO FILING. CONFLICT OF INTEREST POLICY MONITORING & ENFORCEMENT FORM 990, PART VI, LINE 12C CONFLICT OF INTEREST FORMS ARE SENT TO TRUSTEES, OFFICERS, KEY EMPLOYEES (AS APPLICABLE) AND OTHERS FOR COMPLETION. THE COMPLETED FORMS ARE RETURNED TO AND REVIEWED BY THE BOARD AUDIT COMMITTEE CHAIR. THE AUDIT COMMITTEE CHAIR TOGETHER WITH THE AUDIT COMMITTEE IS RESPONSIBLE FOR ADMINISTRATION OF THIS POLICY. MATTERS OF CONCERN ARE BROUGHT TO THE CHAIR OF THE BOARD OF TRUSTEES OR THE PRESIDENT. APPROVAL OF COMPENSATION TRANSACTIONS AND OTHER TRANSACTIONS COVERED BY THE POLICY ARE DONE THROUGH A REVIEW COMPOSED ENTIRELY OF INDIVIDUALS WHO DO NOT HAVE ANY CONFLICT OF INTEREST WITH RESPECT TO THE ARRANGEMENT OR TRANSACTION AT HAND. PERSONS DETERMINED TO HAVE A CONFLICT OF INTEREST ARE PROHIBITED FROM PARTICIPATING IN THE GOVERNING BODY'S DELIBERATIONS AND DECISIONS IN TRANSACTIONS WHICH MAY RELATE TO THE CONFLICT. THEY RELY UPON INDEPENDENT COMPARABILITY DATA OR VALUATIONS PRIOR TO MAKING A DETERMINATION. MATTERS RELATED TO COMPENSATION RELY ON EXTERNAL EXPERTISE IN HIGHER EDUCATION. PROCESS FOR DETERMINING PRESIDENT'S COMPENSATION FORM 990, PART VI, LINE 15A THE CURRENT PRESIDENT WAS HIRED EFFECTIVE JULY 1, 2016 AS THE RESULT OF THE PRESIDENTIAL SEARCH COMMITTEE THAT WAS CHAIRED BY A COLLEGE TRUSTEE AND ADVISED BY A THIRD PARTY CONSULTING FIRM. THE BOARD APPROVED THE PRESIDENT'S CONTRACT WHICH SPANS THE FOUR YEARS ENDING JUNE 30, 2020, AND THE CONTRACT DEFINES THE TERMS OF COMPENSATION, WHICH WAS BASED ON A REVIEW OF COMPARABLE COMPENSATION OF SIMILARLY QUALIFIED PERSONS, SIMILAR POSITIONS, AND SIMILAR ORGANIZATIONS. THE PRESIDENTS SALARY IS TO BE REVIEWED ANNUALLY AND THE SALARY MAY BE ADJUSTED UPWARD, BY THE SOLE DISCRETION OF THE BOARD, BASED ON THE BOARDS ASSESSMENT OF THE PRESIDENTS PERFORMANCE. COMPENSATION IS CONTEMPORANEOUSLY DOCUMENTED WITHIN THE PRESIDENTIAL SEARCH COMMITTEE RECORDS. PROCESS FOR DETERMINING OFFICER'S COMPENSATION FORM 990, PART VI, LINE 15B TOP MANAGEMENT'S (VICE PRESIDENTS AND DEANS) SALARIES ARE REVIEWED ANNUALLY BY A PROCESS SIMILAR TO ALL OTHER EMPLOYEES. THE PRESIDENT PERFORMS A FORMAL EVALUATION. USING THE CUPA-HR ANNUAL SALARY SURVEY--THE ANNUAL PERFORMANCE EVALUATION AND THE FINANCIAL CONSTRAINTS OF THE COLLEGE--THE PRESIDENT THEN DETERMINES THE SALARY REVISIONS WHICH ARE REVIEWED BY THE HUMAN RESOURCES COMMITTEE OF THE BOARD OF TRUSTEES. ALL OTHER KEY EMPLOYEE SALARIES ARE REVIEWED ANNUALLY BY A SIMILAR PROCESS AS THE TOP MANAGEMENT. FORMAL PERFORMANCE EVALUATIONS ARE PERFORMED BY THE SUPERVISOR OF EACH KEY EMPLOYEE WITH RECOMMENDATIONS FOR SALARY REVISIONS PROVIDED TO THE TOP MANAGEMENT EMPLOYEE OVER THAT AREA OF RESPONSIBILITY. THE EVALUATIONS AND RECOMMENDATIONS TOGETHER WITH THE COMPARISON TO THE CUPA-HR ANNUAL SALARY SURVEY AND THE PRESET BUDGET FOR SALARY INCREASES ARE REVIEWED BY EACH TOP MANAGEMENT ADMINISTRATOR WITH RECOMMENDATIONS PRESENTED TO THE PRESIDENT. FINAL APPROVAL IS GIVEN BY THE PRESIDENT. MINUTES OF THE HUMAN RESOURCES COMMITTEE DOCUMENT THE DETERMINATIONS MADE DURING EXECUTIVE SESSION. HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC FORM 990, PART VI, LINE 19 THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS OF THE COLLEGE ARE AVAILABLE UPON REQUEST, AND FINANCIAL STATEMENTS ARE PROVIDED TO VARIOUS STATE AGENCIES, US DEPARTMENT OF EDUCATION, VARIOUS BANKS AND OTHERS PER AGREEMENT. IN ADDITION, THE ANNUAL FORM 990 INFORMATION RETURN AND 990-T TAX RETURN AND ALL RELATED DOCUMENTS AND SCHEDULES ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THE CONFLICT OF INTEREST POLICY IS SENT ANNUALLY TO ALL MEMBERS OF THE BOARD OF TRUSTEES, OFFICERS, KEY EMPLOYEES AND OTHER IDENTIFIED EMPLOYEES. OTHER CHANGES IN NET ASSETS OR FUND BALANCES FORM 990, PART XI, LINE 9 CHANGE IN VALUE OF INTEREST-RATE SWAP...............$ 5,809,379 CHANGE IN BENEFICIAL INTEREST IN TRUSTS.............$ 51,690 RESTRUCTURING.......................................$ 566,987 TOTAL.............................................. $ 6,428,056 JOEL HERTER CHARITABLE REMAINDER UNITRUS 190 PROSPECT AVENUE Elmhurst IL 60126 364572843 C.R. UNITRUST IL NA Trust 100 100 1.00000 false WEIGAND 2 LIFE CHAR REMAINDER UNITRUST 190 PROSPECT AVENUE Elmhurst IL 60126 367614572 C.R. UNITRUST IL NA Trust 100 100 1.00000 false WEIGAND 2 LIFE CHAR REMAINDER UNITRUST 2 190 PROSPECT AVENUE Elmhurst IL 60126 826192286 C.R. UNITRUST IL NA Trust 100 100 1.00000 false