2017-01-13T15:54:31-06:00 2016-05-31 410746749 CLIFTONLARSONALLEN LLP 901 N GLEBE ROAD SUITE 200 ARLINGTON VA 22203 990 2015-06-01 530259954 NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS NATI 2028612500 1110 VERMONT AVENUE NW NO 800 WASHINGTON DC 20005 ELBERT OUZTS VICE PRESIDENT, BUSINESS OPERA 2028612500 2017-01-09 1 AMY FOX P00847276 5712279500 2015 2021-01-29 14:40:06Z JOHN D WALDA 1110 VERMONT AVENUE NW NO 800 WASHINGTON DC 20005 17461848 0 X WWW.NACUBO.ORG X 1956 IL TO DEVELOP, PROMOTE, AND IMPROVE BUSINESS AND FINANCIAL PRINCIPLES AND PRACTICES IN THE ADMINISTRATION OF INSTITUTIONS OF HIGHER EDUCATION. 22 21 61 22 526602 -2750 1025463 1120007 13677480 13417055 848287 455992 674978 646998 16226208 15640052 0 0 0 0 7043906 7651522 0 0 255598 7798025 8270961 14841931 15922483 1384277 -282431 18123141 18997946 7098044 8989000 11025097 10008946 X THE USUAL PUBLIC ACTIVITIES OF NACUBO ARE TO DEVELOP, PROMOTE, AND IMPROVE BUSINESS AND FINANCIAL PRINCIPLES AND PRACTICES IN THEADMINISTRATION OF INSTITUTIONS OF HIGHER EDUCATION AND TO FOSTER AMONG MEMBER INSTITUTIONS PROFESSIONAL IDEALS AND STANDARDS IN BUSINESS AND FINANCIAL ADMINISTRATION.NACUBO'S CORE MISSION IS TO IMPROVE FINANCIAL AND ADMINISTRATIVE MANAGEMENT AT INSTITUTIONS OF HIGHER EDUCATION. TO THIS END, NACUBO MARSHALS EXPERTISE, SHARES KNOWLEDGE, PROVIDES TECHNICAL ASSISTANCE, AND ENCOURAGES INNOVATION IN BUSINESS PRACTICES. AREAS OF FOCUS INCLUDE ACCOUNTING AND FINANCIAL MANAGEMENT INCLUDING ENDOWMENTS AND DEBT, TAXATION, STUDENT FINANCIAL SERVICES, AND BUSINESS OPERATIONS INCLUDING INFORMATION TECHNOLOGY AND FACILITIES MANAGEMENT. 0 0 5368371 5638604 CONFERENCES, WORKSHOPS AND SEMINARSIN 2015-2016, A COMMUNITY OF COMMITTEE AND FACULTY MEMBERS OR PRESENTERS ALONG WITH ASSOCIATION STAFF PARTICIPATED IN THE PROCESS OF DESIGNING AND DELIVERING PROGRAMS TO REGISTRANTS. THE NACUBO ANNUAL MEETING IS THE MOST IMPORTANT PROFESSIONAL DEVELOPMENT EVENT OF THE YEAR FOR COLLEGE AND UNIVERSITY BUSINESS OFFICERS AND THEIR STAFF. THE CONFERENCE WAS HELD IN NASHVILLE, TN FOR THE 2015 FISCAL YEAR. SESSION TOPICS INCLUDED PROGRAM SERVICE ACCOMPLISHMENTS, ACCOUNTING, FINANCIAL ADMINISTRATION, AUXILIARY ENTERPRISES, CHANGE MANAGEMENT, DISTANCE EDUCATION, TAXATION, AND MANY OTHER TECHNICAL, MANAGERIAL AND LEADRSHIP ISSUES.NACUBO PRESENTS WEB CASTS FROM THE ASSOCIATION'S STUDIO DURING THE YEAR.THE WEB CASTS COVERED "HOT TOPICS" IN HIGHER EDUCATION BUSINESS AND ADMINISTRATION. THIS DEPARTMENT ADMINISTERS A CONTINUING PROFESSIONAL EDUCATION (CPE) CREDIT PROGRAM FOR CERTIFIED PUBLIC ACCOUNTANTS. NACUBO IS REGISTERED WITH THE NATIONAL ASSOCIATION OF STATE BOARDS OF ACCOUNTANCY (NASBA) AS A SPONSOR OF CONTINUING PROFESSIONAL EDUCATION ON THE NATIONAL REGISTRY OF CPE SPONSORS. PROFESSIONAL DEVELOPMENT (PDC) -NACUBO CREATES AND DELIVERS A BROAD RANGE OF PROGRAMS, SERVICES, AND PRODUCTS THAT ARE DESIGNED TO STRENGTHEN THE ABILITIES AND KNOWLEDGE OF CAMPUS ADMINISTRATORS AT ALL LEVELS. TO MEET THE CHANGING NEEDS OF HIGHER EDUCATION, NACUBO HAS DEVELOPED A VARIETY OF WORKSHOPS AND MATERIALS COVERING TOPICS IN THE FIELDS OF ACCOUNTING, HIGHER EDUCATION FINANCE, LEADERSHIP AND MANAGEMENT, TAX, STUDENT FINANCIAL SERVICES, CAMPUS OPERATIONS, AND TECHNOLOGY. 5396277 8487952 OTHER MEMBER SERVICESUNIVERSITIES - THE ASSOCIATION KEEPS MEMBERS INFORMED OF FEDERAL ACTIONS, SOLICITS MEMBER OPINIONS AND CONCERNS, AND ADVOCATES FOR THE BEST INTERESTS OF COLLEGES AND UNIVERSITIES WITH CONGRESS AND FEDERAL AGENCIES. THE ASSOCIATION'S ADVOCACY EFFORTS WERE COORDINATED WITH A NUMBER OF OTHER ASSOCIATION'S REPRESENTING VARIOUS HIGHER EDUCATION CONSTITUENCIES. IN ADDITION, NACUBO IS THE VOICE FOR HIGHER EDUCATION WITH THE VARIOUS BODIES THAT SET STANDARDS FOR ACCOUNTING PRACTICES, SUCH AS THE FINANCIAL ACCOUNTING STANDARDS BOARD, THE ASSOCIATION OF CERTIFIED PUBLIC ACCOUNTANTS, AND THE U.S. GENERAL ACCOUNTING OFFICE.RESEARCH - NACUBO UNDERTAKES BOTH ON-GOING LONGITUDINAL STUDIES IMPORTANT TO THE HIGHER EDUCATION INDUSTRY SUCH AS THE ASSOCIATION'S ANNUAL STUDY OF COLLEGE AND UNIVERSITY ENDOWMENTS AND SHORT SURVEYS OR RESEARCH ON SPECIFIC ISSUES OF CONCERN.REGIONAL ASSOCIATIONS AND PARTNERSHIPS - NACUBO MANAGES AN ASSOCIATION MANAGEMENT SYSTEM THAT SERVES THE JOINT MEMBERSHIP OF THE NATIONAL ASSOCIATION AND ITS FOUR REGIONAL AFFILIATED ASSOCIATIONS (CACUBO, EACUBO, SACUBO AND WACUBO). THE SYSTEM CAPTURES A VARIETY OF DATA POINTS THAT ENABLE IMPROVED TRACKING OF INDIVIDUAL MEMBER ACTIVITY AND DUES BILLING AND COLLECTION PROCESSES. THIS DATABASE IS LINKED TO BOTH A CONTENT MANAGEMENT SYSTEM AND THE ASSOCIATION WEBSITE IMPROVING MEMBER SERVICE.AWARDS PROGRAM - NACUBO RECOGNIZES INSTITUTIONAL AND INDIVIDUAL EXCELLENCE THROUGH ITS AWARDS PROGRAM. THESE AWARDS WERE PRESENTED TO INDIVIDUALS WHO SHOWED OUTSTANDING ACHIEVEMENT AND EXEMPLARY PERFORMANCE IN THE AREAS OF FINANCIAL MANAGEMENT, ENDOWMENT MANAGEMENT, PROFESSIONAL DEVELOPMENT AND MORE. INSTITUTIONS WERE RECOGNIZED THAT DEMONSTRATED INNOVATION IN THE AREAS OF PROCESS IMPROVEMENT AND RESOURCE ENHANCEMENT. 248553 160059 PUBLICATIONS AND OTHER PRODUCTSNATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS REMAIN A SOURCE OF PROFESSIONAL INFORMATION FOR MEMBERS. CIRCULATION OF THE MONTHLY BUSINESS OFFICER MAGAZINE HAS GROWN TO 25,000. NACUBO SELLS APPROXIMATELY 48 PUBLICATION TITLES, INCLUDING FOUR ANNUAL SUBSCRIPTION SERVICES. 11013201 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 66 0 61 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 22 21 0 0 0 0 1 0 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X ELBERT OUZTS 2028612500 1110 VERMONT AVENUE NW NO 800 WASHINGTON DC 20005 JOHN WALDA PRESIDENT/CEO 50.00 X X 601437 0 65567 GREGG GOLDMAN CHAIR 1.00 X X 0 0 0 RANDALL GENTZLER VICE CHAIR 1.00 X X 0 0 0 MARY LOU MERKT SECRETARY 1.00 X X 0 0 0 RONALD L RHAMES PAST BOARD CHAIR 1.00 X X 0 0 0 BEN CRUTCHER DIRECTOR 1.00 X 0 0 0 J MICHAEL GOWER DIRECTOR 1.00 X 0 0 0 PHILIP J HANLON DIRECTOR 1.00 X 0 0 0 THOMAS W HERBERT DIRECTOR 1.00 X 0 0 0 HAROLD HEWITT DIRECTOR 1.00 X 0 0 0 MARY LAGRANGE DIRECTOR 1.00 X 0 0 0 ALBERT P LITTLE DIRECTOR 1.00 X 0 0 0 DR HORACE MITCHELL DIRECTOR 1.00 X 0 0 0 DANIEL D MORRIS DIRECTOR 1.00 X 0 0 0 PETER MURTAUGH DIRECTOR 1.00 X 0 0 0 ELIZABETH L PAUL DIRECTOR 1.00 X 0 0 0 DAWN RHODES DIRECTOR 1.00 X 0 0 0 LYNNE SCHAEFER DIRECTOR 1.00 X 0 0 0 KATHY QUALLS DIRECTOR 1.00 X 0 0 0 LYNN VALENTER DIRECTOR 1.00 X 0 0 0 JEAN VOCK DIRECTOR 1.00 X 0 0 0 MITCHELL WEIN DIRECTOR 1.00 X 0 0 0 WILLIAM DILLON EXECUTIVE VP 50.00 X 225601 0 58387 MATT HAMIL SENIOR VP - ADVOCACY & ISS 50.00 X 216559 0 36343 ELBERT OUZTS VP - BUSINESS OPERA 50.00 X 185023 0 38654 MARTA PEREZ-DRAKE VP - PROFESSIONAL D 50.00 X 182598 0 46199 SUE MENDITTO DIRECTOR, ACCOUNTING POLIC 50.00 X 152236 0 37631 ANNE GROSS VP, REGULATORY AFFAIRS 50.00 X 143413 0 38395 ELIZABETH CLARK DIRECTOR, CONGRESSIONAL RE 50.00 X 145194 0 24555 ROBERT SHEA SENIOR FELLOW, FINANCE AND 50.00 X 174629 0 29702 KELLY EDMONDS DIRECTOR, COMMUNICATIONS & MARKETING 50.00 X 145342 0 31396 2172032 0 406829 18 0 1 0 AQUARIAN PO BOX 1110 GREAT FALLS VA 22066 AV PRODUCTION SERVICES 277105 MINDSHIFT TECHNOLOGIES INC 307 WAVERLEY OAKS RD 201 WALTHAM MA 02452 IT SERVICES 266530 VISION CREATIVE INC 10619 - 102 AVENUE EDMONTON ALBERTA CA T5J 2Z3 AV PRODUCTION SERVICES 239771 DARTMOUTH PRINTING 69 LYME RD HANOVER NH 03755 PRINTING SERVICES 211091 THOR DESIGNS 8 MAESGWYN ROAD SWANSEA SWANSEA UK SA4 8RW DESGIN & COMPOSITION 162820 9 1120007 1120007 MEMBERSHIP DUES 900099 7786525 7786525 CONFERENCES, WORKSHOPS AND SEMINA 900099 4929104 4929104 ADVERTISING 541800 526602 526602 JOB BANK 900099 174824 174824 13417055 588031 588031 1685358 1817397 -132039 -132039 -132039 141659 4399 137260 137260 CONSULTING FEES 900099 384548 384548 SALES RETURNS AND ALLOWANCES 900099 18400 18400 106790 106790 509738 15640052 12720850 526602 1272593 X 1662132 1056724 576879 28529 3470886 2131900 1223782 115204 743809 463910 257686 22213 1401154 877152 484576 39426 373541 232485 130515 10541 70460 10060 60400 38771 2515 36256 1904191 1171772 732419 143205 134908 3750 4547 913015 462401 449077 1537 4762 -3583 8345 795541 64418 731123 814408 609044 202750 2614 813107 795598 16645 864 225714 225714 120951 13967 106984 990T/UBIT/FEDERAL & DC -102 -102 FOOD/ BEVERAGES 1844152 1723728 120424 PUBLICATIONS - PRINTING 401015 401015 BOOKS AND SUBSCRIPTIONS 36467 20501 15966 145304 844686 -729505 30123 15922483 11013201 4653684 255598 500 500 2866753 4293540 535621 364464 62424 58024 1272749 1475786 3589094 3271722 497937 317372 12887157 12488260 18123141 18997946 1637916 1957415 4884462 6722901 575666 308684 7098044 8989000 X 10973207 9945998 3390 14448 48500 48500 11025097 10008946 18123141 18997946 -282431 -733720 0 X X 0 1 X 1 0 X 320129 491072 416665 1025463 1120007 3373336 11492075 13388807 13048064 13301922 13032112 64262980 11812204 13879879 13464729 14327385 14152119 67636316 0 25431 25431 25431 25431 67610885 153874 325064 641280 894701 588031 2602950 755292 748354 668355 580665 526602 3279268 909166 1073418 1309635 1475366 1114633 5882218 216840 273731 272883 306927 509738 1580119 12938210 15227028 15047247 16109678 15776490 75098653 0.90030 0.90550 0.07830 0.07770 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 106810 106810 15884174 15990984 949549 237387 0 0 845976 851524 898118 949549 3545167 5317751 74754 61657 112227 106810 355448 211494 212881 224530 237387 886292 1329438 1371513 1145104 226409 509268 490758 18510 1708313 1635860 72453 317372 DEFERRED LEASE LIABILITY 308684 308684 X 15230433 -733719 319700 4400 -409619 15640052 0 15640052 16246583 319700 4400 324100 15922483 0 15922483 PART X, LINE 2: NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS IS EXEMPT FROM THE PAYMENT OF TAXES ON INCOME OTHER THAN NET UNRELATED BUSINESS INCOME UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS RECEIVED UNRELATED BUSINESS INCOME FROM ADVERTISING REVENUE THAT IS SUBJECT TO THE UNRELATED BUSINESS INCOME TAX. THERE IS NO INCOME TAX EXPENSE RELATED FOR THE YEAR ENDED MAY 31, 2016 AND MAY 31, 2015. NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS FOR THE YEARS ENDED MAY 31, 2016 AND 2015, AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS OR THAT MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. AS OF MAY 31, 2016, THE STATUTE OF LIMITATIONS FOR TAX YEARS 2011 THROUGH 2015 REMAINS OPEN WITH THE U.S. FEDERAL JURISDICTION OR THE VARIOUS STATES AND LOCAL JURISDICTIONS IN WHICH NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS FILES TAX RETURNS. IT IS NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS' POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, IN INCOME TAX EXPENSE. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 4,399. ROUNDING 1. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 4,399. ROUNDING 1. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 JOHN WALDA PRESIDENT/CEO 601437 0 0 0 0 0 38835 0 26732 0 667004 0 0 0 WILLIAM DILLON EXECUTIVE VP 225601 0 0 0 0 0 32705 0 25682 0 283988 0 0 0 MATT HAMIL SENIOR VP - ADVOCACY & ISS 216559 0 0 0 0 0 32093 0 4250 0 252902 0 0 0 ELBERT OUZTS VP - BUSINESS OPERA 185023 0 0 0 0 0 26753 0 11901 0 223677 0 0 0 MARTA PEREZ-DRAKE VP - PROFESSIONAL D 182598 0 0 0 0 0 28023 0 18176 0 228797 0 0 0 SUE MENDITTO DIRECTOR, ACCOUNTING POLIC 152236 0 0 0 0 0 21846 0 15785 0 189867 0 0 0 ANNE GROSS VP, REGULATORY AFFAIRS 143413 0 0 0 0 0 20391 0 18004 0 181808 0 0 0 ELIZABETH CLARK DIRECTOR, CONGRESSIONAL RE 145194 0 0 0 0 0 21315 0 3240 0 169749 0 0 0 ROBERT SHEA SENIOR FELLOW, FINANCE AND 174629 0 0 0 0 0 25417 0 4285 0 204331 0 0 0 KELLY EDMONDS DIRECTOR, COMMUNICATIONS & MARKETING 145342 0 0 0 0 0 20945 0 10451 0 176738 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS JOHN D. WALDA'S HOUSING ALLOWANCE OR RESIDENCE - $30,000 INCLUDED IN TAXABLE COMPENSATION MARTHA WALDA - TRAVEL FOR CAMPANIONS - $9,966 INCLUDED IN TAXABLE COMPENSATION FORM 990, PART VI, SECTION A, LINE 6 NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS HAS THE FOLLOWING TYPES OF MEMBERS: REGULAR, ASSOCIATE, PROVISIONAL, SUBSCRIBER, AFFILIATE, GOVERNING BOARD AND STUDENT/RETIREE. FORM 990, PART VI, SECTION A, LINE 7B DUES INCREASES ARE SUBJECT TO MEMBER APPROVAL. FORM 990, PART VI, SECTION B, LINE 11 THE FINANCE AND AUDIT COMMITTEE WILL REVIEW AND APPROVE THE 990 BEFORE IT IS FILED. THE ENTIRE BOARD WILL BE PROVIDED ACCESS TO REVIEW THE 990 BEFORE THE 990 IS FILED. FORM 990, PART VI, SECTION B, LINE 12C EACH EMPLOYEE HAS A DUTY TO PLACE NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS' INTERESTS FOREMOST IN ANY PERSONAL DEALINGS WITH NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS AND HAS A CONTINUING RESPONSIBILITY TO COMPLY WITH THE REQUIREMENTS OF THIS POLICY. THE CONDUCT OF PERSONAL BUSINESS BETWEEN ANY EMPLOYEE AND NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS IS PROHIBITED WITHOUT WRITTEN APPROVAL OF THE PRESIDENT AND CHIEF EXECUTIVE OFFICER OF NACUBO, AFTER FULL DISCLOSURE BY THE EMPLOYEE. EACH EMPLOYEE MUST SIGN THE CONFLICT OF INTEREST DISCLOSURE STATEMENT FOR PURPOSES OF PROVIDING THE EMT WITH THE INFORMATION NEEDED TO IMPLEMENT THIS POLICY. EMPLOYEE DISCLOSURE STATEMENTS WILL BE REVIEWED BY THE NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS PRESIDENT, WHO WILL RESOLVE ANY ACTUAL OR POTENTIAL CONFLICT(S). EACH EMPLOYEE SHALL ANNUALLY SIGN A DISCLOSURE STATEMENT WHICH AFFIRMS THAT SUCH PERSON: A. HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, B. HAS READ AND UNDERSTANDS THE POLICY, C. HAS AGREED TO COMPLY WITH THE POLICY. THE DISCLOSURE STATEMENT WILL ALSO PROVIDE AN OPPORTUNITY TO DISCLOSE OR DISCLAIM SPECIFIC FINANCIAL INTERESTS. THIS POLICY APPLIES TO THE BOARD OF DIRECTORS AS WELL AS ALL EMPLOYEES. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION USES AN INDEPENDENT COMPENSATION CONSULTANT AND COMPENSATION SURVEYS AND STUDIES TO DETERMINE THE APPROPRIATE COMPENSATION AMOUNTS. ONCE APPROVED BY THE COMPENSATION COMMITTEE, A WRITTEN EMPLOYMENT CONTRACT IS WRITTEN FOR THE PRESIDENT/CEO AND THE EXECUTIVE MANAGEMENT TEAM.(2016) FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC VIA ITS WEBSITE. IT DOES NOT MAKE ITS CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 11G SERVICE CENTER FEES: PROGRAM SERVICE EXPENSES 528,315. MANAGEMENT AND GENERAL EXPENSES 497,191. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,025,506. HONORARIA: PROGRAM SERVICE EXPENSES 92,666. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 92,666. CONSULTANTS: PROGRAM SERVICE EXPENSES 487,120. MANAGEMENT AND GENERAL EXPENSES 231,442. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 718,562. AGENCY TEMPORARIES: PROGRAM SERVICE EXPENSES 63,671. MANAGEMENT AND GENERAL EXPENSES 3,786. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 67,457. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT HAS NOT CHANGED FOR CURRENT YEAR.