2017-05-15T15:11:32-05:00 2016-06-30 KPMG LLP 1676 INTERNATIONAL DRIVE Mclean VA 22102 990 2015-07-01 520591421 ST JOHN'S COLLEGE % J SMOLSKIS AND B VALENTINE STJO 4102632371 60 College Avenue Annapolis MD 21401 JOSEPH SMOLSKIS TREASURER 4106262514 2017-05-11 true WHITNEY E BLAIR P01226647 7032868000 2017-04-26 2015 2021-01-29 14:40:06Z CHRISTOPHER NELSON 60 COLLEGE AVENUE ANNAPOLIS MD 21401 148459669 false X www.stjohnscollege.edu X 1784 MD TO PROVIDE POST-SECONDARY EDUCATION. 34 30 1030 150 502500 -5507 24235143 20627501 49799030 49035045 4805193 2308516 3232 0 78842598 71971062 22680843 23794159 0 0 33463028 35650135 0 0 4264738 24869908 22124237 81013779 81568531 -2171181 -9597469 264285622 259050540 60434828 73948131 203850794 185102409 X ST JOHN'S COLLEGE IS A COMMUNITY DEDICATED TO LIBERAL EDUCATION. SUCH EDUCATION SEEKS TO FREE MEN AND WOMEN FROM THE TYRANNIES OF UNEXAMINED OPINIONS AND INHERITED PREJUDICES. IT ALSO ENDEAVORS TO ENABLE THEM TO MAKE INTELLIGENT, FREE CHOICES CONCERNING THE ENDS AND MEANS OF BOTH PUBLIC AND PRIVATE LIFE. AT ST JOHN'S, FREEDOM IS PURSUED MAINLY THROUGH THOUGHTFUL CONVERSATION ABOUT GREAT BOOKS OF THE WESTERN TRADITION. THE BOOKS THAT ARE AT THE HEART OF LEARNING AT ST JOHN'S STAND AMONG THE ORIGINAL SOURCES OF OUR INTELLECTUAL TRADITION. THEY ARE TIMELESS AND TIMELY; THEY NOT ONLY ILLUMINATE THE PERSISTING QUESTIONS OF HUMAN EXISTENCE, BUT ALSO HAVE GREAT RELEVANCE TO CONTEMPORARY PROBLEMS. THEY CHANGE OUR MINDS, MOVE OUR HEARTS, AND TOUCH OUR SPIRITS. false false 61339033 23794159 49035045 GRADUATE & UNDERGRADUATE COURSE OF STUDY FOR APPROXIMATELY 900 STUDENTS 61339033 true true false false false false false true false true true true false false true false true false true false false false true false false false false false true true true false false false false false false true false false false true false false false false true false false false true 1535 0 true 1030 true true true true CJ false false false false false false false false X 34 30 false false false false false false false true true false false false true true true true true true true false MD NM X J SMOLSKIS AND B VALENTINE 4106262514 60 COLLEGE AVENUE ANNAPOLIS MD 21401 M Brownell Anderson Member 1.0 0.0 X 0 0 0 Elizabeth A Bassan Member 1.0 0.0 X 0 0 0 Robert Bienenfeld Secretary 1.0 0.0 X X 0 0 0 Sharon Bishop Member 1.0 0.0 X 0 0 0 Steven J Bohlin Member 1.0 0.0 X 0 0 0 Claiborne B Booker Member 1.0 0.0 X 0 0 0 Jana H Carey Member 1.0 0.0 X 0 0 0 Thomas M Carnes Member 1.0 0.0 X 0 0 0 Ray C Cave Member 1.0 0.0 X 0 0 0 Greg Curtis Member 1.0 0.0 X 0 0 0 Matt Davis Dean - Santa Fe 35.0 0.0 X X 112302 0 21750 Chrisopher Denny Member 1.0 0.0 X 0 0 0 Bryan Dorland Member 1.0 0.0 X 0 0 0 Stephen L Feinberg Member 1.0 0.0 X 0 0 0 John L Gray Member 1.0 0.0 X 0 0 0 Anna Greenberg Member 1.0 0.0 X 0 0 0 Erwin L Greenberg Member 1.0 0.0 X 0 0 0 Richard Groenendyke Member 1.0 0.0 X 0 0 0 Joan Haratani Member 1.0 0.0 X 0 0 0 Allan Hoffman Member 1.0 0.0 X 0 0 0 Larry Hogan Ex Officio 1.0 0.0 X 0 0 0 Harold Hughes Member 1.0 0.0 X 0 0 0 Pamela Kraus Dean - Annapolis 35.0 0.0 X X 146154 0 31830 Perry Lerner Chair 1.0 0.0 X X 0 0 0 Susana Martinez Ex Officio 1.0 0.0 X 0 0 0 Robert Mass Member 1.0 0.0 X 0 0 0 Douglas K Mayer Member 1.0 0.0 X 0 0 0 Wilfred M McClay Member 1.0 0.0 X 0 0 0 Charles Nelson Member 1.0 0.0 X 0 0 0 Chrisopher Nelson President - Annapolis 35.0 0.0 X X 279033 0 204347 Michael Peters President - Santa Fe 35.0 0.0 X X 256352 0 85764 James H Polk Member 1.0 0.0 X 0 0 0 Joshua Rogers Member 1.0 0.0 X 0 0 0 Pamela Saunders-Albin Vice-Chair 1.0 0.0 X X 0 0 0 Warren Spector Member 1.0 0.0 X 0 0 0 Adrian Trevisan Ex Officio 1.0 0.0 X 0 0 0 Jill Cooper Udall Member 1.0 0.0 X 0 0 0 Michael Uremovich Member 1.0 0.0 X 0 0 0 Leslie Jump Walker Member 1.0 0.0 X 0 0 0 Harriet Warren Member 1.0 0.0 X 0 0 0 Julia Wikinson Member 1.0 0.0 X 0 0 0 Warren P Winiarski Member 1.0 0.0 X 0 0 0 Delores Wolf Member 1.0 0.0 X 0 0 0 Joseph Macfarland Dean - Annapolis 35.0 0.0 X X 87236 0 14958 Edward Walpin Interim Dean - Santa Fe 35.0 0.0 X X 117829 0 15813 Mark Roosevelt President - Effective 1/1/2016 35.0 0.0 X X 0 0 0 Joseph Smolskis Treasurer - Annapolis 35.0 0.0 X 185000 0 37102 Bryan Valentine Treasurer - Santa Fe 35.0 0.0 X 145819 0 21463 Victoria Mora Vice President - Sana Fe 35.0 0.0 X 171810 0 54688 Barbara Goyette Vice President - Annapolis 35.0 0.0 X 147700 0 36292 David Carl Director of GI - Santa Fe 35.0 0.0 X 138329 0 16804 David Townsend Tutor - Annapolis 35.0 0.0 X 116446 0 26924 Krishnan Venkatesh Tutor - Santa Fe 35.0 0.0 X 127790 0 15008 Janet Arsnault Tutor - Santa Fe 35.0 0.0 X 122347 0 16551 Katherine Heines Assistant Dean - AN 35.0 0.0 X 115950 0 14614 2270097 0 613908 36 false true false Bon Appetit PO Box 417632 BOSTON MA 02241 Food Services 1962397 A'viands NW5704 PO Box 1450 MINNEAPOLIS MN 55485 Food Services 1589632 Sodexo Inc Affiliates PO Box 536922 ATLANTA GA 30353 Maintenance 1255895 Securitas Security Svcs USA Inc 4100 Osuna Rd NE ALBUQUERQUE NM 87109 Security Services 273341 Craftsman Printers Inc 535 32nd St LUBBOCK TX 79404 Printing Services 237009 19 2103180 18524321 994959 20627501 TUITION AND FEES 611600 38850354 38850354 ROOM & BOARD FEES 611710 6657344 6657344 AUXILIARY ENTERPRISES 611710 1400336 897780 502556 OTHER PROGRAM SERVICE REVENUE 611710 2127011 2127011 49035045 272102 -2347 274449 0 0 0 0 0 78525021 76488607 2036414 2036414 2291 2034123 0 0 0 0 71971062 48532489 502500 2308572 0 18686356 18686356 5107803 5107803 0 1787564 601850 866204 319510 0 22758742 17085612 3663670 2009460 2107648 1649005 209590 249053 7276585 4309106 2604384 363095 1719596 1238821 318245 162530 0 105534 105534 216756 216756 0 0 852823 852823 3289452 2079441 779886 430125 822264 580405 149709 92150 2147344 1230903 609747 306694 808174 102313 705861 0 1210616 884350 310808 15458 514358 380944 69305 64109 0 352791 343422 9369 1259695 1259695 0 3255079 1980050 1242666 32363 447701 25811 421890 DINING HALL 2833988 2833988 LECTURES, EVENTS & RELATED 489888 258939 23019 207930 BAD DEBT EXPENSES 65817 20225 45592 BOOKSTORE - COGS 447793 447793 3004164 1491896 1500007 12261 81568531 61339033 15964760 4264738 6964629 11775977 0 0 12853518 9493209 878991 682464 76046 0 0 0 5627623 5899599 419620 445405 360822 306574 142014828 68752034 75298596 73262794 33449642 34303036 124820736 118983748 0 0 0 0 3535399 3897734 264285622 259050540 34036404 38070967 1438673 1198561 1774021 1660971 20422348 28500000 0 0 0 0 0 0 1000000 3880000 1763382 637632 60434828 73948131 X 26616111 11414091 48853816 39992508 128380867 133695810 203850794 185102409 264285622 259050540 X -9597469 -9870695 852823 -133044 X X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X RARE AND OLD LIBRARY BOOKS false 157294564 12025935 -7562178 3850362 5904243 152003716 150951958 11525232 2908649 3176238 4915037 157294564 133402108 8241514 16527771 2931189 4288246 150951958 124887763 2783231 13182146 2913354 4537678 133402108 129941910 3669718 296988 3766298 5254555 124887763 0.04950 0.82850 0.12200 true false 9223340 9223340 121870293 56457391 65412902 9691126 8318931 1372195 1230069 3975712 -2745643 73262794 CASH AND CASH EQUIVALENTS 5340983 F TOTAL RETURN FUNDS 47300712 F HEDGE FUNDS 43981367 F FOUNDATIONS, TRUSTS, AND OTHER 9001493 F PRIVATE EQUITY FUNDS 13359193 F 118983748 0 UNAMORTIZED BOND PREMIUM -832450 DEFERRED BOND ISSUE COSTS -422946 ASSET RETIREMENT OBLIGATIONS 1893028 637632 X 38306208 -9870695 -23794159 -33664854 71971062 71971062 54184729 54184729 852823 26530979 27383802 81568531 PURPOSE OF COLLECTIONS Part III, Line 4 SANTA FE - THE ARTWORK PLACED AROUND CAMPUS, AS WELL AS LIBRARY BOOK COLLECTION, FURTHER THE PURPOSE OF THE COLLEGE BY EXPOSING STUDENTS TO FINE WORKS OF ART, IN BOTH THE WRITTEN AND SCULPTED FORM THE EXCELLENCE AND DEPTH OF THOUGHT AND CREATIVITY EXPECTED OF OUR STUDENTS. ANNAPOLIS - THE COLLECTION IS AN ECLECTIC ASSEMBLAGE OF FINE AND DECORATIVE ART OBJECTS THAT HAVE BEEN GIVEN TO THE COLLEGE OVER THE YEARS. THIS COLLECTION RANGES FROM UNFRAMED REPRODUCTION POSTERS TO FINE CHINESE SILK PAINTING. MANY OF THESE OBJECTS ARE ON DISPLAY THROUGHOUT CAMPUS AND ENRICH CLASSROOM, COMMON, AND OFFICE SPACES. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS Part V, Line 4 ENDOWMENT FUNDS ARE DONOR RESTRICTED AND ARE USED TO FUND FACULTY AND STUDENT FINANCIAL AID. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48 Part X, Line 2 As an educational institution meeting the requirements of Section 501(c)(3) of the Internal Revenue Code, the College is exempt from income taxes on income related to its exempt purpose as provided in Section 501(a), except to the extent it has taxable income from activities that are not related to its exempt purpose. No provision for income taxes was required for 2016 or 2015. Management has analyzed the tax positions taken by the College and has concluded that as of June 30, 2016 and 2015, there are no uncertain positions taken or expected to be taken that would require recognition or disclosure in the accompanying financial statements. The College is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax period in progress. RECONCILIATION OF REVENUE PART XI, LINE 2D FINANCIAL AID (23,794,159) RECONCILIATION OF EXPENSES Part XII, Line 4b FINANCIAL AID 23,794,159 CHANGES IN POST RETIREMENT BENEFITS 3,040,266 SABBATICAL LEAVE LIABILITY CHANGES (303,446) ---------- TOTAL 26,530,979 true true true true true true true false false false false false false false false true false true EXPLANATION OF NONDISCRIMNATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE ST. JOHN'S COLLEGE NONDISCRIMINATION POLICY CAN BE FOUND IN BOTH ITS RECRUITMENT MATERIALS AND IN ITS STUDENT HANDBOOK. THE HANDBOOK IS DISTRIBUTED TO STUDENTS AS PART OF THE REGISTRATION PROCESS. EXPLANATION OF GOVERNMENTAL FINANCIAL ASSISTANCE SCHEDULE E, Part I, Line 6a THE COLLEGE RECEIVES FUNDING FROM THE FOLLOWING SOURCES: PELL, COLLEGE WORK STUDY, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT, GUARANTEED STUDENT LOAN, THE STATE OF MARYLAND, AND THE STATE OF NEW MEXICO. ALL ASSISTANCE IS PROVIDED TO STUDENTS BASED ON FINANCIAL NEED. true Central America and the Caribbean Investments 42217437 Central America and the Caribbean Grantmaking 51700 East Asia and the Pacific Grantmaking 2492373 Europe (Including Iceland and Greenland) Grantmaking 545185 Middle East and North Africa Grantmaking 5830 South America Grantmaking 96614 South Asia Grantmaking 1395018 Sub-Saharan Africa Grantmaking 521083 47325240 47325240 Scholarships & Assistance Central America and the Caribbean 1 51700 Other Scholarships & Assistance East Asia and the Pacific 66 2492373 Other Scholarships & Assistance Europe (Including Iceland and Greenland) 12 545185 Other Scholarships & Assistance Middle East and North Africa 1 5830 Other Scholarships & Assistance South America 2 96614 Other Scholarships & Assistance South Asia 25 1395018 Other Scholarships & Assistance Sub-Saharan Africa 9 521083 Other true false false false true false PROCEDURE FOR MONITORING GRANTS TO INTERNATIONAL STUDENTS SCHEDULE F, PART I, LINE 2 THE COLLEGE MONITORS THE USE OF GRANT FUNDS TO INTERNATIONAL STUDENTS IN THE FINANCIAL AID OFFICE. PERSONNEL REVIEW STUDENT NEED ON A YEARLY BASIS AND AWARD GRANTS BASED ON NEED AND ELIGIBILITY. true MARYLAND STATE SCHOLARSHIPS 30 81614 Cost SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS 171 306628 Cost FEDERAL PELL GRANT PROGRAM 198 897455 Cost SJC Grants (Undergraduates) 727 16325420 Cost SJC Endowed GI Grants 20 167966 Cost SJC Grants (Graduates) 99 897925 Cost New Mexico Grants 4 9348 Cost PROCEDURE FOR MONITORING GRANTS IN THE US SCHEDULE I, PART I, LINE 2 THE COLLEGE MONITORS THE USE OF GRANT FUNDS IN THE FINANCIAL AID OFFICE. PERSONNEL REVIEW STUDENT NEED ON A YEARLY BASIS AND AWARD GRANTS BASED ON NEED AND ELIGIBILITY. X X true true X X X X false false false false false false false false false Pamela Kraus Dean - Annapolis 146154 0 0 0 0 0 20238 0 11592 0 177984 0 0 0 Chrisopher Nelson President - Annapolis 260101 0 0 0 18932 0 35775 0 168572 0 483380 0 0 0 Michael Peters President - Santa Fe 250000 0 5802 0 550 0 31250 0 54514 0 342116 0 0 0 Joseph Smolskis Treasurer - Annapolis 185000 0 0 0 0 0 19240 0 17862 0 222102 0 0 0 Bryan Valentine Treasurer - Santa Fe 144537 0 1282 0 0 0 19686 0 1777 0 167282 0 0 0 Victoria Mora Vice President - Sana Fe 164656 0 2354 0 4800 0 27000 0 27688 0 226498 0 0 0 Barbara Goyette Vice President - Annapolis 140489 0 0 0 7211 0 18000 0 18292 0 183992 0 0 0 David Carl Director of GI - Santa Fe 117297 0 21032 0 0 0 14822 0 1982 0 155133 0 0 0 HOUSING ALLOWANCE AND PERSONAL SERVICES Part I, Line 1a THE PRESIDENTS OF THE ANNAPOLIS (CHRISTOPHER NELSON) AND SANTA FE CAMPUS (MICHAEL PETERS AND MARK ROOSEVELT) ARE PROVIDED WITH HOUSING FOR THE CONVENIENCE OF THE COLLEGE AND IS A CONDITION OF EMPLOYMENT (PER EMPLOYMENT CONTRACT) THAT THE PRESIDENT RESIDE IN THE HOUSE PROVIDED. THE PRESIDENTS' HOMES ARE USED FOR MANY COLLEGE ACTIVITIES INCLUDING HOSTING EVENTS FOR STUDENTS, FACULTY, AND COLLEGE SUPPORTERS. THE CALCULATED NONTAXABLE BENEFIT RECEIVED BY EACH PRESIDENT FOR THE PERSONAL USE OF THE HOUSING AMOUNTED TO $128,841 AND $50,705 FOR ANNAPOLIS AND SANTA FE, RESPECTIVELY. IN ADDITION, PERSONAL SERVICES SUCH AS LANDSCAPER AND MAIDS ARE PROVIDED TO MAINTAIN THE UPKEEP ON THE RESIDENCE. A CITY OF ANNAPOLIS MARYLAND SERIES 2007 A&B 526000764 035779CN5 2007-06-02 13689584 REFUNDED A PORTION OF 1998 BONDS true false false B PUBLIC FINANCE AUTHORITY 273866124 74442PCE3 2016-05-10 23866212 REFUNDED 1998, 2011 AND 2007B SERI false false false A 1828707 7820877 13689584 526850 0 0 265780 0 0 8171693 4725261 0 2008 false true true true B 0 0 23866212 0 0 7820877 477324 0 0 246734 6976916 8344361 true true true true A false false false false 0 false false false true B false false false false 0 false false false true A false false false true false false 0 false 0 false true B false true false false false false 0 false 0 false true A true B true PART I - BOND ISSUES BOND B (A) ISSUER NAME: PUBLIC FINANCE AUTHORITY (F) DESCRIPTION OF PURPOSE: REFUNDED 1998, 2007B, AND 2011 SERIES BONDS, NEW MONEY PART II - OTHER SPENT PROCEEDS BOND B LINE 11 - ADDITIONAL COSTS ASSOCIATED WITH THE CLOSING OF THE BOND WERE $238,662. PART IV - NO REBATE DUE BOND A LINE 2C - THE REBATE COMPUTATION FOR THE CITY OF ANNAPOLIS MARYLAND SERIES A&B BOND WAS PERFORMED ON JUNE 7, 2013. 0 Joseph Smolskis Officer 17742 Grant DEPENDENT TUITION Victoria Mora Officer 22996 Grant DEPENDENT TUITION JOSEPH MACFARLAND Officer 16181 Grant DEPENDENT TUITION Chris Nelson Officer 8974 Grant DEPENDENT TUITION X 27 994959 Avg of high/low false true false REVIEW PROCESS FOR FORM 990 Form 990, Part VI, SECTION B, Line 11 A COPY OF THE COMPLETED FULL FORM 990 IS FURNISHED TO THE AUDIT AND COMPLIANCE COMMITTEE OF THE BOARD. THE COMMITTEE WILL CONDUCT A REVIEW OF THE 990. UPON DISCUSSION AND REVIEW, THE COMMITTEE WILL MOTION AND APPROVE THE ACCEPTANCE OF THE FORM 990 AND POST A COPY OF THE COMPLETED 990 (EXCLUDING SCHEDULE B) ON A SECURE PORTAL FOR FULL BOARD REVIEW. THE AUDIT AND COMPLIANCE COMMITTEE WILL ALSO GRANT THE ANNAPOLIS CAMPUS TREASURER PERMISSION TO PROCEED WITH SIGNING AND FILING THE FORM 990. ENFORCEMENT OF CONFLICT OF INTEREST POLICY FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS MONITORED AND COMPLIANCE IS ENFORCED THROUGH A YEARLY STATEMENT ALONG WITH THE COLLEGE'S POLICY BEING DISTRIBUTED TO ALL BOARD MEMBERS, OFFICERS, AND KEY EMPLOYEES FOR REVIEW AND SIGNATURE. THE SIGNED STATEMENTS ARE RETURNED TO THE PRESIDENT OF THE ANNAPOLIS CAMPUS FOR REVIEW AND FOLLOW-UP. ANY POTENTIAL CONFLICTS ARE DISCUSSED BETWEEN THE PARTIES AND A RESOLUTION IS MADE TO RESOLVE THE CONFLICT. EXECUTIVE COMPENSATION POLICIES FORM 990, PART VI, SECTION B, LINE 15 WITH RESPECT TO THE COMPENSATION OF THE DEANS, VICE PRESIDENTS AND TREASURERS, THE PRESIDENTS CONSULTED WITH AN INDEPENDENT CONSULTING FIRM WHICH SPECIALIZES IN PROVIDING EXECUTIVE COMPENSATION ADVICE TO COLLEGES AND UNIVERSITIES. ONE OF THE PRIMARY PURPOSES OF ENGAGING AN OUTSIDE FIRM WAS TO ASSURE COMPLIANCE WITH IRS REGULATORY REQUIREMENTS REGARDING THE REASONABLENESS OF EXECUTIVE COMPENSATION IN 501(c)(3) ORGANIZATIONS. THE EXECUTIVE COMMITTEE HAS ESTABLISHED WHAT IS KNOWN AS A REBUTTABLE PRESUMPTION OF THE REASONABLENESS OF COMPENSATION BY SATISFYING THREE REGULATORY REQUIREMENTS: (1) COMPENSATION RECOMMENDATIONS HAVE BEEN DEVELOPED BY AN INDEPENDENT COMMITTEE OF THE BOARD, (2) APPROPRIATE COMPARABILITY DATA HAS BEEN USED (PROVIDED BY THE CONSULTANT BASED ON ITS SURVEY), AND (3) THE PROCESS HAS BEEN ADEQUATELY DOCUMENTED THROUGH THE MINUTES OF THE EXECUTIVE COMMITTEE. THAT COMMITTEE CONSIDERS THE RECOMMENDATIONS OF THE PRESIDENTS RELATIVE TO THE VICE-PRESIDENTS AND TREASURERS, AND CONSIDERS THE PROJECTED FORMULA-BASED SALARIES OF THE DEANS, ALL IN LIGHT OF THE EXTERNAL COMPARISONS PROVIDED BY THE CONSULTANT. THE COMMITTEE ALSO CONSIDERS THE BENEFITS PROVIDED TO THE OFFICERS THAT MAKE UP A PART OF THE TOTAL COMPENSATION PACKAGE. THE EXECUTIVE COMMITTEE MAKES THE FINAL DECISIONS AS TO EACH INDIVIDUAL'S COMPENSATION. AS FOR THE RECOMMENDATIONS RELATIVE TO THE PRESIDENTS, THOSE SALARIES AND BENEFITS ARE REVIEWED BY THE EXECUTIVE COMMITTEE IN THE ABSENCE OF THE PRESIDENTS AND AFTER RECEIVING REPORTS FROM THE BOARD CHAIR CONCERNING THE PERFORMANCE OF THE PRESIDENTS UPON REVIEW BY THE PRESIDENTIAL REVIEW COMMITTEE. THE EXECUTIVE COMMITTEE REVIEWS THE SAME DATA AND COMPARISONS PROVIDED BY THE CONSULTANT FOR THE OTHER OFFICERS. THE EXECUTIVE COMMITTEE MAKES ITS RECOMMENDATION TO THE FULL BOARD, ACTING IN EXECUTIVE SESSION, WHICH ACTS AFTER GETTING THE FULL REPORT FROM THE COMMITTEE. AVAILABILITY OF GOVERNING DOCUMENTS FORM 990, PART VI, SECTION C, LINE 19 FORM 1023, FORM 990, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. IN ADDITION, THE FORM 990 IS AVAILABLE ON GUIDESTAR AND THE CONFLICT OF INTEREST POLICY IS PUBLISHED ANNUALLY IN THE STAFF HANDBOOK. OTHER CHANGES IN NET ASSETS OR FUND BALANCES CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS $ 70,532 LOSS ON REDEMPTION OF BOND $(203,576) CHARITABLE REMAINDER UNITRUSTS (3) INVESTMENT MD NA TRUST CHARITABLE REMAINDER UNITRUSTS (3) INVESTMENT NM NA TRUST