2017-01-30T07:43:40-06:00 2016-06-30 383635706 REHMANN ROBSON LLC 555 BRIARWOOD CIRCLE 300 ANN ARBOR MI 48108 990 2015-07-01 381393841 CLEARY UNIVERSITY CLEA 5175483670 3750 CLEARY DR HOWELL MI 48843 JUDITH L WALKER CFO 5175483670 2017-01-24 1 KATHLEEN M UNDERHILL CPA P00589677 7347612005 2017-01-24 2015 2021-01-29 14:40:06Z JAYSON BOYERS 3750 CLEARY DR HOWELL MI 48843 13477928 0 X WWW.CLEARY.EDU X 1883 MI PROVIDE PRACTICAL SKILLS AND VALID CREDENTIALS TO ADVANCE STUDENTS' BUSINESS CAREERS. 22 22 259 25 5152 -5888 1640881 1374569 6923310 8833434 484149 41216 92425 179805 9140765 10429024 1695568 2079260 0 0 3985482 4323872 0 0 397868 3710949 4334099 9391999 10737231 -251234 -308207 17733438 21344591 7870489 11782439 9862949 9562152 TO ENRICH STUDENTS' LIVES THROUGH THE KNOWLEDGE, SKILLS, AND CREDENTIALS THAT ADVANCE CAREERS. 0 0 5627508 2079260 8863899 OPERATION OF UNIVERSITY & INSTRUCTION COST 5627508 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 1 0 0 0 0 0 0 0 1 5 0 1 259 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 JUDY WALKER 5175483670 3750 CLEARY DR HOWELL MI 48843 RAYMOND KING III CHAIR 2.00 X 0 0 0 DOUGLAS RITTER SECRETARY 2.00 X 0 0 0 MILTON WEIDMAYER TREASURER 2.00 X 0 0 0 JOHN KUDERIK VICE TREASURER 2.00 X 0 0 0 GLYNIS MCBAIN OFFICER-AT-LARGE 2.00 X 0 0 0 FRANK FIKE OFFICER-AT-LARGE 2.00 X 0 0 0 DAVID ITSELL OFFICER-AT-LARGE 2.00 X 0 0 0 CAROL ALEXANDER OFFICER-AT-LARGE 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 2.00 X 0 0 0 ANDREW EGGAN TRUSTEE 2.00 X 0 0 0 ALAN KRUSE TRUSTEE 2.00 X 0 0 0 MARGARET BORYCZKA GUPTA TRUSTEE 2.00 X 0 0 0 JOHN KLEE OFFICER-AT-LARGE 2.00 X 0 0 0 MARTY PAWLUSIAK TRUSTEE 2.00 X 0 0 0 ANNE MCKENNY TRUSTEE 2.00 X 0 0 0 DANTE BALLARIO TRUSTEE THRU 4/28/2016 2.00 X 0 0 0 DON REIMONDO TRUSTEE 2.00 X 0 0 0 KENNETH WEINGARTZ TRUSTEE 2.00 X 0 0 0 RICH PERLBERG TRUSTEE 2.00 X 0 0 0 IAN SCHONSHECK TRUSTEE 2.00 X 0 0 0 DANIEL MILSTEIN TRUSTEE 2.00 X 0 0 0 JAYSON BOYERS PRESIDENT BEGINNING 10/1/2015 40.00 X 60046 0 1204 THOMAS SULLIVAN PRESIDENT & CEO THRU 9/30/2015 40.00 X 142768 0 35290 JUDITH L WALKER CFO 40.00 X 108565 0 16171 MATTHEW BENNETT SENIOR VP INSTITUTIONAL ADVANCEMENT 40.00 X 93084 0 24436 LANCE LEWIS PROVOST AND CHIEF ACADEMIC OFFICER 40.00 X 69386 0 5364 473849 0 82465 3 0 1 0 0 117615 1256954 600850 1374569 TUITION AND FEES 611600 8486744 8486744 OTHER PROGRAM SERVICE 611600 346690 346690 8833434 39660 39660 87035 0 87035 87035 87035 525145 2427253 524070 2426772 1075 481 1556 1556 87165 29624 57541 57541 2235 2623 -388 -388 101432 65815 35617 30465 5152 10429024 8863899 5152 185404 2079260 2079260 741193 134049 488232 118912 3011591 2005624 875951 130016 53768 29389 22474 1905 264308 144469 110474 9365 253012 138294 105753 8965 9828 9828 65775 35 65740 648597 67667 580452 478 355115 32919 319512 2684 192995 28355 158021 6619 409953 409953 216019 193811 21490 718 59735 34015 24937 783 136500 136500 858936 858936 91253 91253 OTHER 587667 275121 195490 117056 BOOKS & PERIODICALS 347961 307739 39855 367 EQUIPMENT 141666 141666 BOOKSTORE EXPENSES 112203 112203 99896 44558 55338 10737231 5627508 4711855 397868 832244 3183305 1594820 2142580 259818 438299 156268 156268 68069 25796 227324 160342 18051628 4797962 11857484 13253666 602105 84370 2135306 1899965 17733438 21344591 1141810 1194884 1067980 2645619 5660699 7941936 7870489 11782439 X 7264744 7047652 1476526 1278622 1121679 1235878 9862949 9562152 17733438 21344591 -308207 7410 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 600850 600850 X 0 2964021 169954 9499 25252 3118222 2900900 58015 26192 21086 2964021 2829391 55204 31805 15500 2900900 2821368 61730 -12511 41197 2829391 2676823 73829 93997 23283 2821368 0.48000 0.39600 0.12400 0 0 904842 904842 12729011 1917348 10811663 1310782 431733 879049 3106993 2448881 658112 13253666 ARTWORK 1112963 ART HELD FOR RESALE 323150 CHARITABLE REMAINDER UNITRUST INTEREST 463852 1899965 X 8413321 7410 -2023113 -2015703 10429024 0 10429024 8714118 -2023113 -2023113 10737231 0 10737231 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. THE QUASI-ENDOWMENT FUND MAY BE USED AS A RESERVE OR IN CASE OF EMERGENCY FOR THE OPERATIONS OF THE UNIVERSITY. PART X, LINE 2: THE UNIVERSITY HAS EVALUATED ITS INCOME TAX FILING POSITIONS FOR FISCAL YEARS 2012 THROUGH 2016, THE YEARS WHICH REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS AS OF JUNE 30, 2016. 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, 2016 OR 2015, 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 65,815. SPECIAL EVENTS EXPENSES 32,247. GRANTS & SCHOLARSHIPS -2,084,270. WRITEDOWN OF INVESTMENT -36,905. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 65,815. SPECIAL EVENTS EXPENSES 32,247. GRANTS & SCHOLARSHIPS -2,084,270. WRITEDOWN OF INVESTMENT -36,905. 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 87165 87165 13039 16585 87165 87165 13039 16585 29624 57541 2235 2623 0 2235 2623 2623 -388 0 0 0 0 KEVIN DECEUNINCK 3750 CLEARY UNIVERSITY HOWELL MI 48843 0 KEVIN DECEUNINCK 420 COLLECTS MONEY AT BINGO X 0 1 VA MILITARY GRANT 11 33771 CLEARY INSTITUTIONAL GRANT 47 58323 CLEARY SCHOLARSHIP 3 13500 COMMUNITY COLLEGE & ALUMNI DISCOUNT 11 36701 NEXT STEP GRANT 15 32116 JILL ABRAHAMS ALUMNI 1 500 WILBURN M. BARWICK SCHOLARSHIP 7 8313 SULLIVAN ENDOWED SCHOLARSHIP 4 4000 GRADUATE ASSISTANT GRANT 1 3784 RITA & CHARLES GELMAN UNDERGRADUATE SCHOLARSHIP 2 4000 MARJORY CLEARY MCKENNY & ARTHUR MCKENNY 2 4000 ATHLETIC SCHOLARSHIP 250 963143 ATHLETIC HOUSING SCHOLARSHIP 39 76220 ADMISSIONS HONORS SCHOLARSHIP 32 180021 ADMISSIONS TRANSFER SCHOLARSHIP 52 188551 CLEARY BUSINESS PARTNER SCHOLARSHIP 102 224686 INTERNATIONAL CPT PROGRAM SCHOLARSHIP 12 25886 COMMUNITY PARTNERS MATCHING GRANT 4 5000 ALUMNI ASSOCIATION ANNUAL ENDOWED SCHOLARSHIP 1 1440 R. B. LYONS ENDOWED SCHOLARSHIP 2 1000 MARIE & OWEN CLEARY SCHOLARSHIP 1 500 KEY BANK SCHOLARSHIP 2 1000 DONNA RICHARDS SCHOLARSHIP 1 500 RESIDENT ASSISTANT SCHOLARSHIP 2 7200 INTERNATIONAL MKT SCHOLARSHIP 1 3500 P.R. CLEARY OPPORTUNITY EDUCAT 21 15000 ATHLETIC SUPPLEMENTAL SCHOLARSHIP 72 177539 ATHLETIC WORK STUDY MATCH 1 1000 SEOG MATCHING FUNDS 52 8066 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 1 0 0 0 0 0 0 0 0 THOMAS SULLIVAN PRESIDENT & CEO THRU 9/30/2015 142768 0 0 0 0 0 24943 0 10347 0 178058 0 0 0 PART I, LINE 4A THOMAS SULLIVAN RECEIVED A SEVERANCE PAYMENT DURING THE FISCAL YEAR ENDED 6/30/2016 IN THE AMOUNT OF $101,991. THOMAS SULLIVAN FORMER PRESIDENT & CEO EXECUTIVE BENEFIT PLAN X 110000 156268 0 1 1 156268 X 114 600850 INDEPENDENT APPRAISER 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 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 XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.