2017-11-14T10:04:06-06:00 2017-06-30 390859910 Baker Tilly Virchow Krause LLP 777 E Wisconsin Avenue 32nd Floor Milwaukee WI 53202 990 2016-07-01 390806325 Carroll University Inc CARR 2625247200 100 N East Avenue Waukesha WI 53186 Cindy Gnadinger President 2625247200 2017-11-13 1 Troy Marine CPA P00187863 4147775500 2017-11-10 38.122.82.115 2017-11-13 15:04:58 CS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 FC291E00EDC6CE15C22AD045E9D90E0D24B72456 2016 2018-03-14 21:41:22Z Douglas Hastad 100 N East Avenue Waukesha WI 53186 180456841 0 X www.carrollu.edu X 1846 WI CARROLL UNIVERSITY PROVIDES A SUPERIOR EDUCATION, ROOTED IN ITS PRESBYTERIAN AND LIBERAL ARTS HERITAGE, AND DRAWS UPON ITS CHRISTIAN TRADITION TO PREPARE ALL STUDENTS FOR VOCATIONAL SUCCESS, LIFELONG LEARNING AND SERVICE IN A DIVERSE AND GLOBAL SOCIETY. 27 26 3119 26 579354 -95598 8508252 7491389 110021852 113617302 1716998 3418153 234496 402719 120481598 124929563 37533177 39872826 0 0 1692560 1897802 11263 0 1394572 66478183 71286556 105715183 113057184 14766415 11872379 201707511 216937171 22106344 20614975 179601167 196322196 Carroll University provides a superior education, rooted in its Presbyterian and liberal arts heritage, and draws upon its Christian tradition to prepare all students for vocational success, lifelong learning and service in a diverse and global society. 0 0 31440239 96291935 Instruction & Academic Support - services provided to support students in the classroom and support of classroom. 68992583 39872826 17325367 Auxiliary & Student Services - Services provided to students not related to the classroom such as dormitory charges and board plans and services to students that are related to activities outside the classroom such as athletics, financial aid and admission. 8220511 Institutional Support - Services that support the administrative functions of the institution including depreciation, depletion and amortization. 108653333 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 61 0 3119 1 1 1 0 0 0 0 1 1 0 0 0 0 X 27 26 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 AK CO DC IL IA KY LA MD MA MI MO NV NH NY ND OH OR SC SD WA WI X Ronald Lostetter 2625247200 100 N East Avenue Waukesha WI 53186 Alice Crofts Morava trustee 1.00 X 0 0 0 Charmaine Ponkratz trustee 1.00 X 0 0 0 Christy Brown trustee 1.00 X 0 0 0 Cindy Mayoras trustee 1.00 X 0 0 0 Deborah Block trustee 1.00 X 0 0 0 Dennis Punches trustee 1.00 X 0 0 0 Dorval Carter trustee 1.00 X 0 0 0 Guy Di Spigno trustee 1.00 X 0 0 0 James DeJong trustee 1.00 X 0 0 0 James Schneider trustee 1.00 X 0 0 0 Jefferson DeAngelis trustee 1.00 X 0 0 0 Jose Olivieri trustee 1.00 X 0 0 0 Joseph Zvesper trustee 1.00 X 0 0 0 Kevin Buehler trustee 1.00 X 0 0 0 Lynda Johnson trustee 1.00 X 0 0 0 Mark Roble trustee 1.00 X 0 0 0 Pershing E MacAllister trustee 1.00 X 0 0 0 Renee Ramirez trustee 1.00 X 0 0 0 Reynolds Challoner trustee 1.00 X 0 0 0 Russell Harland trustee 1.00 X 0 0 0 Sandra Cunningham trustee 1.00 X 0 0 0 Susan Edwards trustee 1.00 X 0 0 0 Ted Baker trustee 1.00 X 0 0 0 Timothy Hando trustee 1.00 X 0 0 0 Timothy Sullivan trustee 1.00 X 0 0 0 Ty Taylor trustee 1.00 X 0 0 0 Douglas Hastad President 40.00 X 589219 0 88031 James V Wiseman III VP of Enrollment 40.00 X 228663 0 53864 Joanne Passaro Provost/VP of Academic Affairs 40.00 X 241576 0 52702 Ronald Lostetter VP of Finance and Admin Services 40.00 X 249190 0 87370 Stephen Kuhn VP of Institutional Advancement 40.00 X 246320 0 60866 Charles Byler Professor of History & Dean, College of Arts and S 40.00 X 136550 0 27769 Jane Hopp Dean, College of Health Sciences 40.00 X 162294 0 16758 Theresa Barry VP for Student Affairs 40.00 X 170875 0 35932 Gregory Kuhlemeyer Professor of Business 40.00 X 131108 0 18023 Carol Tallarico Professor and Leader of Business 40.00 X 126836 0 18318 2282631 0 459633 19 0 1 0 Next Electric 3325 Gateway Road Brookfield WI 53045 Electrical Contractor 269380 Jenzabar 1450 Technology Drive Harrisonburg VA 22802 Higher Education Software 135016 Time Warner Cable 1320 Dr Martin Luther King Drive Milwaukee WI 53212 Cable TV 131112 Clean Power 124 N 121st Street Wauwatosa WI 53226 Janitorial Services 124286 JM Brennan Inc PO 2127 Milwaukee WI 53201 Plumbing & HVAC Contractor 109184 5 50646 1979167 5461576 101108 7491389 Tuition and Fees 900099 96291935 96291935 Auxiliary Enterprises 611710 17325367 17325367 113617302 2677859 2677859 56240858 55500564 740294 740294 740294 32745 50646 26714 6031 6031 Summer Conferences 721000 579354 579354 Other Income 900099 -182666 -182666 396688 124929563 113617302 579354 3241518 39872826 39872826 1897802 1669706 228096 5515802 4577641 938161 Instruction 21021064 21021064 Auxiliary Enterprises 14926025 14926025 Student Services 12220014 12220014 Institutional Support 9386987 8220511 1166476 8216664 7815252 401412 113057184 108653333 3009279 1394572 2526826 2389031 7419259 6647411 4793849 4701264 3667890 3570796 1305033 1376286 172343076 65620452 91193857 106722624 90219745 91516461 581052 13298 201707511 216937171 6941368 6421264 1142668 1497398 7240191 5940284 6782117 6756029 22106344 20614975 X 93489698 102735975 47295351 54267070 38816118 39319151 179601167 196322196 201707511 216937171 X 11872379 5248530 -399880 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 25000 25000 0 Part II-B, Line 1: Payments to a lobbying firm to conduct direct contact lobbying on behalf of the exempt organization. 51973370 645790 6755249 1825000 57549409 52607425 767166 319579 1720800 51973370 52173386 1541821 425818 1533600 52607425 46263856 456889 6894398 1441757 52173386 41570137 577484 5505951 1389716 46263856 0.00000 0.65470 0.34530 1 0 6606233 6606233 106630811 37365619 69265192 9794035 3474019 6320016 26401134 15965232 10435902 22910863 8815582 14095281 106722624 Liabilities Under Split Interest Agreements 906883 Deferred Compensation 831341 Asset Retirement Obligation 2552015 U.S. Government Grants Refundable 2407075 Other Liabilities 58715 6756029 X 90476944 5248530 -399880 4848650 85628294 39301269 39301269 124929563 73755915 571557 571557 73184358 39872826 39872826 113057184 Part V, Line 4: The endowment funds are used to support academic programs and scholarships. Part X, Line 2: THE UNIVERSITY FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THE GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE UNIVERSITY FOR UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2017 AND 2016. THE University's TAX RETURNS are subject to review and examination for federal and state authorities. Part XI, Line 2d - Other Adjustments: Changes in values of split interest agreements -399,880. Part XI, Line 4b - Other Adjustments: Other Direct Fund Raising Expense (Golf Event) -26,714. Grants and Other Assistance to Individuals 39,872,826. excess withdrawals over income earned -544,843. Part XII, Line 2d - Other Adjustments: Other Direct Fund Raising Expense 26,714. excess withdrawals over income earned 544,843. Part XII, Line 4b - Other Adjustments: Grants and Other Assistance to Individuals 39,872,826. 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 following was published in the student handbook and brochures used for the recruitment of students "Carroll University does not discriminate in any manner contrary to law or justice on the basis or race, color, sex, age, religion, sexual orientation, national origin, disability or veterans status in administration of its educational, admission, financial aid, athletic, or other University policies and programs nor in the employment of its faculty and staff". Schedule E, Part I, Line 6 Financial Aid at Carroll University, Inc. is available to students who are degree candidates, following guidelines established by the University, the U.S. Department of Education and the Wisconsin Higher Educational Board. The University received funds from the following programs administered by the U.S. Department of Education and Health and Human Services and the Wisconsin Higher Education Aids Board: Federal Pell Grant Program, Federal Supplemental Education Opportunity Grant Program, Teach Grant, Federal Perkins Loan Program, Federal College Work Study Program, Federal Stafford Loans, Parents' Loan Program, National Science Foundation, National Endowment for the Humanities, Wisconsin Tuition Grant, Wisconsin TIP Grant, Wisconsin Minority Grant, Wisconsin Handicap Grant, Wisconsin Indian Grant, Wisconsin Covenant Grant, Wisconsin Academic Excellence Scholarship, Wisconsin Department of Public Instructions, and Health Resources and Services Administration Scholarships. Pioneer Golf Classic 83391 50646 32745 26714 83391 50646 32745 26714 26714 6031 1 Scholarships 2942 39872826 FMV Part I, Line 2: The organization maintains a policy and procedures manual which outlines the organization's policy on awarding federal, state, and institutional assistance to students. X X X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 Douglas Hastad President 413331 0 0 0 175888 0 45000 0 43031 0 677250 0 135000 0 James V Wiseman III VP of Enrollment 194979 0 0 0 33684 0 20000 0 33864 0 282527 0 30000 0 Joanne Passaro Provost/VP of Academic Affairs 219082 0 0 0 22494 0 20000 0 32702 0 294278 0 19346 0 Ronald Lostetter VP of Finance and Admin Services 239246 0 0 0 9944 0 55000 0 32370 0 336560 0 0 0 Stephen Kuhn VP of Institutional Advancement 202745 0 0 0 43575 0 30000 0 30866 0 307186 0 30000 0 Charles Byler Professor of History & Dean, College 136073 0 0 0 477 0 0 0 27769 0 164319 0 0 0 Jane Hopp Dean, College of Health Sciences 161399 0 0 0 895 0 0 0 16758 0 179052 0 0 0 Theresa Barry VP for Student Affairs 150086 0 0 0 20789 0 10000 0 25932 0 206807 0 20000 0 Part I, Line 4b The following individuals have received payments from a 457(F) plan: Douglas Hastad - $149,140.49; Stephen Kuhn - $31,644.42; James Wiseman III - $31,810.71; Joanne Passaro - $19,346.01; Theresa Barry - $20,059.26 A PNC Bank 221146430 noneavail 2012-12-20 4757272 Refinance of 2001 Issue, Building Improvements 0 0 0 B pNC Bank 221146430 noneavail 2017-05-04 3425008 refinance of 2006 Issue, Building Improvements 0 0 0 A 4727272 55095 4672177 2008 0 0 1 1 B 3425008 55113 3369895 2008 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 1 0 0 0 0 0 B 1 0 0 0 0 0 A 1 B 1 Waukesha State Bank Ty Taylor is President of Waukesha State Bank & A Trustee of the Org During the year ended June 30, 2017, Carroll University engaged in business with Waukesha State Bank. Ty Taylor, who is on the Carroll University Board of Trustees, is president of Waukesha State Bank. All business that was conducted was an arm's length transaction. 0 First Business Bank David Vetta is Pres/CEO of First Business Bank & Former Trustee of the Org During the year ended June 30, 2017, Carroll University engaged in business with First Business Bank. David J. Vetta, who was formerly on the Carroll University Board of Trustees, is president and CEO at First Business Bank. All business that was conducted was an arm's length transaction. 0 MICHAEL BEST & FRIEDRICH LLP Jose Olivieri is a partner at Michael Best & a trustee of the organization 114673 During the year ended June 30, 2017, Carroll University engaged in business with Michael Best & Friedrick LLP. Jose Olivieri, who is on the Carroll University Board of Trustees, is a partner at Michael Best & Friedrich LLP. All business that was conducted was an arm's length transaction. 0 X 12 81121 FMV X 1 34 fmv X equipment 3 19530 FMV X Gift Cards 5 416 fMV 0 1 0 Form 990, Part VI, Section A, line 1 The University bylaws permit an Executive Committee of the Board to take action between regularly scheduled meetings of the Board and to act on matters referred to it by the Board. Actions involving selection or termination of the President, Trustee Officers, the University Mission, Vision and Bylaws, debt, sale of certain property, budget and tenure and promotion require action by the full Board. Form 990, Part VI, Section B, line 11b Carroll University's form 990 was prepared by an independent certified public accounting firm. The Board of Trustees has delegated the oversight and review of the form 990 to the Audit Committee. A draft of the full disclosure form 990 was provided electronically to the Board of Trustees Audit Committee for review and the finalized version of Form 990 was filed with the IRS on or before the November 15th filing deadline. To respect the wishes of certain donors to remain anonymous, we have chosen not to provide a full disclosure copy of the 990 to the full governing board of Carroll University. A full disclosure copy, with all donor information, will be filed with the IRS. Form 990, Part VI, Section B, line 12c The office of the President collects conflict of interest disclosures annually, Conflicts disclosed are discussed with financial officers and, if required, trustees. In all cases, a person with a conflict is excused from any decision related to the conflict. Form 990, Part VI, Section B, line 15 The bylaws of Carroll University, Inc. establish a compensation committee that has general oversight of the University's compensation plan. Specific duties of the committee include the responsibility to: (A)Request and review, on at least an annual basis, the compensation policies for the University, including all pertinent and current compensation studies, forecasts and statistics to ensure that compensation is not only reasonable, but also appropriate and competitive to attract and retain qualified personnel, including the President and other key employees. The committee may also consider input obtained from other members of the Board, faculty, staff, students, alumni and community members. An annual report regarding this review shall be presented to the full board. (B)Recommend to the Board, for approval, compensation changes for the President and other key employees of the university. During such deliberations, the President and other key employees shall not be present when discussed. (C)Oversee the development when appropriate, the Executive Agreement for the President of the University. (D)Perform any/all other activities, as requested by the Board that relate to the oversight of compensation for the President of the University and other key employees of the university. Form 990, Part VI, Section C, line 19 The organization makes its governing documents, conflict of interest policy and financial statements available upon request. Form 990, Part XI, line 9: Changes in values of split interest agreements -399,880. Form 990, Part XII, Line 2c: No change from prior year.