2017-05-10T21:39:55-05:00 2016-06-30 KPMG LLP 1676 INTERNATIONAL DRIVE MCLEAN VA 21202 990 2015-07-01 520705392 Stevenson University % MELANIE EDMONDSON STEV 4104867000 1525 GREENSPRING VALLEY ROAD STEVENSON MD 21153 CLAIRE E MOORE President 4104867000 2017-05-10 true RAYMOND LY P01205643 7032866000 2017-05-09 2015 2021-01-29 14:40:06Z CLAIRE E MOORE 1525 GREENSPRING VALLEY ROAD STEVENSON MD 21153 175825920 false X WWW.STEVENSON.EDU X 1947 MD THE UNIVERSITY IS AN INDEPENDENT COEDUCATIONAL FOUR-YEAR UNIVERSITY, WHICH OFFERS MASTER'S, BACHELOR'S, AND ASSOCIATE'S DEGREES TO APPROX. 3,600 FULL TIME EQUIV STUDENTS. 25 25 2185 174 13153 -10255 11802011 17172955 123185687 127175598 8335053 5620820 384407 934572 143707158 150903945 40727643 44584071 0 0 52562040 55884105 0 16500 1764545 44969888 43615622 138259571 144100298 5447587 6803647 270343172 266763466 165154147 165561381 105189025 101202085 X THE UNIVERSITY IS AN INNOVATIVE, COEDUCATIONAL, INDEPENDENT INSTITUTION OFFERING UNDERGRADUATE AND GRADUATE STUDENTS A CAREER-FOCUSED EDUCATION MARKED BY INDIVIDUALIZED ATTENTION, CIVILITY, AND RESPECT FOR DIFFERENCE. THE UNIVERSITY BLENDS THE LIBERAL ARTS WITH CAREER EXPLORATION AND PLANNING, COMPLEMENTING A TRADITIONAL EDUCATION WITH APPLIED LEARNING BEYOND THE CLASSROOM. THE UNIVERSITY MEETS STUDENTS WHERE THEY ARE AND SUPPORTS AND CHALLENGES THEM TO BECOME REFLECTIVE AND ACCOMPLISHED INDIVIDUALS COMMITTED TO A LIFETIME OF LEARNING AND CONTRIBUTION. 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TRUSTEE 1.0 0.0 X 0 0 0 PAUL MARK SANDLER ESQ TRUSTEE 1.0 0.0 X 0 0 0 MARGARET SHEETZ TRUSTEE 1.0 0.0 X 0 0 0 JANE FRANKEL SIMS ESQ TRUSTEE 1.0 0.0 X 0 0 0 ANNA L SMITH TRUSTEE 1.0 0.0 X 0 0 0 JAMES B STRADTNER CFA TRUSTEE 1.0 0.0 X 0 0 0 JUDITH S WARANCH ESQ TRUSTEE 1.0 0.0 X 0 0 0 W DANIEL WHITE TRUSTEE 1.0 0.0 X 0 0 0 STEPHEN J WOERNER PE TRUSTEE 1.0 0.0 X 0 0 0 KEVIN J MANNING PRESIDENT 40.0 0.0 X 729992 0 31786 TIMOTHY M CAMPBELL EXEC VP OF FINANCE 40.0 0.0 X 396763 0 61468 MARK HERGAN VP OF ENROLLMENT 40.0 0.0 X 203551 0 54241 PAUL D LACK EXEC VP OF ACADEMIC AFFAIRS 40.0 0.0 X 341740 0 25359 STEVENSON W CLOSE VP OF INSTIT ADVANCEMENT 40.0 0.0 X 271993 0 26458 MELANIE EDMONDSON ASSOC VP OF FINANCE 40.0 0.0 X 182610 0 13203 BRENDA BALZER VP OF HUMAN RESOURCES 40.0 0.0 X 195096 0 14853 PAUL CANTABENE ASSOC DIRECTOR OF ATHLETICS 40.0 0.0 X 291762 0 45359 GLENDA LEGENDRE VP OF MARKETING 40.0 0.0 X 165616 0 13711 SUSAN GORMAN SR ASSOC VP OF ACAD AFFAIRS 40.0 0.0 X 165136 0 26596 CLAIRE E MOORE VP OF STUDENT AFFAIRS 40.0 0.0 X 153359 0 18670 THOMAS A ALLEN ASSOC VP, CIO, INFORM TECH 40.0 0.0 X 151228 0 23225 3248846 0 354929 40 false true false SODEXO OPERATIONS LLC 1525 GREENSPRING VALLEY ROAD STEVENSON MD 21153 FOOD SERVICE 5907144 PROFESSIONAL MAINTENANCE MANAGEMENT 15938 DERWOOD ROAD ROCKVILLE MD 20855 CLEANING SERVICES 1740693 ALPHA MAINTENANCE SERVICES INC 2823 FLINSTONE ROAD MILLERS MD 21102 GROUND REPAIRS 1190005 RC CONTRACTORS INC PO BOX 4322 TIMONIUM MD 21094 PAINTING CONTRACTOR 548786 Centennial Protection Group LLC 2300 York Road Suite 206 TIMONIUM MD 21093 Security Services 451049 29 X 18900 13680954 3473101 62607 17172955 TUITION AND FEES 900099 103086879 103086879 STUDENT HOUSING 611710 15200959 15200959 FOOD SERVICE 611710 6548163 6548163 BOOKSTORE 451211 1669682 1669682 VENDOR COMMISSIONS 531120 228359 217986 10373 441556 441556 127175598 1595349 2780 1592569 0 0 406150 406150 0 406150 0 406150 28921150 15984 24911663 4009487 15984 4025471 15984 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PERRY OF PERRY, WHITE, ROSS & JACOBSON AS COUNSEL FOR THE UNIVERSITY REGARDING THE ACQUISITION OF STATE OWNED PROPERTY ON THE ROSEWOOD CAMPUS. THE UNIVERSITY PAID $55,500 FOR THESE SERVICES IN THE CURRENT YEAR. 28700 X false 78668884 883759 -899984 8916465 304959 69431235 77089444 736810 1565142 352388 370124 78668884 64772994 685940 12258108 300066 327532 77089444 55999421 224394 8866337 48975 268183 64772994 53965937 3045925 527012 1299760 239693 55999421 0.80000 0.11700 0.08300 false false 44379633 44379633 178222846 42049554 136173292 35950480 30325853 5624627 1527850 1527850 187705402 0 SWAP LIABILITIES 16151555 REFUNDABLE ADVANCES - US GOV'T 229768 OTHER LIABILITIES 485379 16866702 X 95224328 -6543510 -4247077 -10790587 106014915 304959 44584071 44889030 150903945 99211268 99211268 304959 44584071 44889030 144100298 INCOME TAX STATUS SCHEDULE D, PART X AS AN EDUCATIONAL INSTITUTION MEETING THE REQUIREMENTS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, THE UNIVERSITY IS EXEMPT FROM INCOME TAXES ON INCOME, 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 AND 2015. THE UNIVERSITY HAD NO LIABILITY FOR UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2016. SCHEDULE D, PARTS XI, XII AND XIII PART XI, LINE 2D AMOUNT REPRESENTS CHANGE IN THE FAIR VALUE OF INTEREST RATE SWAP. PART XI, LINE 4B AMOUNT REPRESENTS STUDENT FINANCIAL AID, WHICH IS NETTED AGAINST TUITION & FEES REVENUE FOR FINANCIAL STATEMENT PURPOSES. PART XII, LINE 4B AMOUNT REPRESENTS STUDENT FINANCIAL AID, WHICH IS NETTED AGAINST TUITION & FEES REVENUE FOR FINANCIAL STATEMENT PURPOSES. SCHEDULE D, PART V INTENDED USES OF ENDOWMENT FUNDS THE UNIVERSITY'S ENDOWMENT CONSISTS OF APPROXIMATELY 68 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. true true true true true true true false false false false false false false false true false true RACIALLY NONDISCRIMINATORY POLICY SCHEDULE E, PART I LINE 3 THE UNIVERSITY'S RACIALLY NON-DISCRIMINATORY POLICY IS PUBLICIZED IN RADIO AND NEWSPAPER ADVERTISEMENTS AND THE UNIVERSITY'S WEBSITE. FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENTAL AGENCY SCHEDULE E, PART I LINE 6A STEVENSON UNIVERSITY PARTICIPATES IN SEVERAL FINANCIAL AID PROGRAMS ADMINISTERED BY THE US DEPARTMENT OF EDUCATION AND BY THE STATE OF MARYLAND. true Europe (Including Iceland and Greenland) Program Services STUDENTS STUDY ABROAD Central America and the Caribbean Program Services STUDENTS STUDY ABROAD East Asia and the Pacific Program Services STUDENTS STUDY ABROAD Europe (Including Iceland and Greenland) Grantmaking East Asia and the Pacific Grantmaking South Asia Grantmaking Sub-Saharan Africa Grantmaking Middle East and North Africa Grantmaking Central America and the Caribbean Grantmaking Central America and the Caribbean Investments 2697360 2697360 2697360 STUDENT FINANCIAL AID East Asia and the Pacific 1 11250 STUDENT FINANCIAL AID Europe (Including Iceland and Greenland) 2 26500 STUDENT FINANCIAL AID South Asia 3 35000 STUDENT FINANCIAL AID Sub-Saharan Africa 3 23000 STUDENT FINANCIAL AID Middle East and North Africa 2 18000 STUDENT FINANCIAL AID Central America and the Caribbean 1 1031 true false true true true false STUDENT FINANCIAL AID SCHEDULE F, PART I, LINE 2 THE UNIVERSITY PROVIDES FINANCIAL AID TO ELIGIBLE STUDENTS, GENERALLY IN A "PACKAGE" THAT INCLUDES LOANS, COMPENSATION UNDER WORK-STUDY PROGRAMS, AND/OR GRANT AND SCHOLARSHIP AWARDS. THE LOANS ARE PROVIDED PRIMARILY THROUGH PROGRAMS OF THE UNITED STATES GOVERNMENT (INCLUDING DIRECT AND GUARANTEED LOAN PROGRAMS) UNDER WHICH THE UNIVERSITY IS RESPONSIBLE ONLY FOR CERTAIN ADMINISTRATIVE DUTIES. THE GRANTS AND SCHOLARSHIPS INCLUDE AWARDS PROVIDED THROUGH GIFTS AND GRANTS FROM PRIVATE DONORS OR FROM INCOME EARNED ON ENDOWMENT FUNDS RESTRICTED FOR STUDENT AID, AS WELL AS GENERAL FUNDS SCHOLARSHIP AWARDS. ROUGHLY 85 PERCENT OF STEVENSON UNIVERSITY STUDENTS RECEIVE SOME SORT OF FINANCIAL AID. ALL INDIVIDUALS RECEIVING DISBURSEMENTS FROM STEVENSON UNIVERSITY QUALIFY TO RECEIVE SUCH PAYMENTS BASED ON SCHOLASTIC ACHIEVEMENT AND/OR FINANCIAL NEED. THE UNIVERSITY PROVIDES NEED-BASED GRANTS, WHICH ARE DETERMINED BASED ON THE STUDENTS'S FAFSA SCORE. THE STUDENT MUST MAINTAIN A GPA OF 2.0 OR GREATER AND BE A FULL-TIME STUDENT. DISBURSEMENTS TAKE THE FORM OF SCHOLARSHIP OR GRANTS. GRANTS ARE DISBURSED BASED ON THE GUIDELINES SET FORTH BY THE PARTY FUNDING THE GRANT. X true WILSON-BENNETT TECHNOLOGY 140 PROFESSIONAL DRIVE suite 2 cabot AR 72023 PHONATHON false 11828 16500 11828 WILSON-BENNETT TECHNOLOGY 140 PROFESSIONAL DRIVE SUITE 2 CABOT AR 72023 SOFTWARE LICENSE false 0 12500 0 11828 29000 11828 MD golf outing 29516 18900 10616 770 2746 3762 3034 0 29516 18900 10616 770 2746 3762 3034 10312 304 Schedule G, Part I, Line 2b Line 2(b)(1) - THE AMOUNT PAID TO WILSON-BENNETT TECHNOLOGY INCLUDES $12,500 FOR SOFTWARE LEASE (FALL 2015 AND SPRING 2016) IN ADDITION TO $16,500 FOR PROGRAM MANAGEMENT FEES FOR FALL 2015. true STUDENT FINANCIAL AID 3770 44469290 STUDENT FINANCIAL AID SCHEDULE I, PART I, LINE 2 THE UNIVERSITY PROVIDES FINANCIAL AID TO ELIGIBLE STUDENTS, GENERALLY IN A "PACKAGE" THAT INCLUDES LOANS, COMPENSATION UNDER WORK-STUDY PROGRAMS, AND/OR GRANT AND SCHOLARSHIP AWARDS. THE LOANS ARE PROVIDED PRIMARILY THROUGH PROGRAMS OF THE UNITED STATES GOVERNMENT (INCLUDING DIRECT AND GUARANTEED LOAN PROGRAMS) UNDER WHICH THE UNIVERSITY IS RESPONSIBLE ONLY FOR CERTAIN ADMINISTRATIVE DUTIES. THE GRANTS AND SCHOLARSHIPS INCLUDE AWARDS PROVIDED THROUGH GIFTS AND GRANTS FROM PRIVATE DONORS OR FROM INCOME EARNED ON ENDOWMENT FUNDS RESTRICTED FOR STUDENT AID, AS WELL AS GENERAL FUNDS SCHOLARSHIP AWARDS. ROUGHLY 85 PERCENT OF STEVENSON UNIVERSITY STUDENTS RECEIVE SOME SORT OF FINANCIAL AID. ALL INDIVIDUALS RECEIVING DISBURSEMENTS FROM STEVENSON UNIVERSITY QUALIFY TO RECEIVE SUCH PAYMENTS BASED ON SCHOLASTIC ACHIEVEMENT AND/OR FINANCIAL NEED. THE UNIVERSITY PROVIDES NEED-BASED GRANTS, WHICH ARE DETERMINED BASED ON THE STUDENTS'S FAFSA SCORE. THE STUDENT MUST MAINTAIN A GPA OF 2.0 OR GREATER AND BE A FULL-TIME STUDENT. DISBURSEMENTS TAKE THE FORM OF SCHOLARSHIP OR GRANTS. GRANTS ARE DISBURSED BASED ON THE GUIDELINES SET FORTH BY THE PARTY FUNDING THE GRANT. X X X X true false X X X X X false true false false false false false false false KEVIN J MANNING PRESIDENT 374992 0 355000 0 0 0 19875 0 11911 0 761778 0 0 0 TIMOTHY M CAMPBELL EXEC VP OF FINANCE 214263 0 182500 0 0 0 46538 0 14930 0 458231 0 0 0 MARK HERGAN VP OF ENROLLMENT 196051 0 7500 0 0 0 40225 0 14016 0 257792 0 0 0 PAUL D LACK EXEC VP OF ACADEMIC AFFAIRS 234240 0 107500 0 0 0 17438 0 7921 0 367099 0 0 0 STEVENSON W CLOSE VP OF INSTIT ADVANCEMENT 194493 0 77500 0 0 0 15083 0 11375 0 298451 0 0 0 MELANIE EDMONDSON ASSOC VP OF FINANCE 157610 0 25000 0 0 0 11799 0 1404 0 195813 0 0 0 BRENDA BALZER VP OF HUMAN RESOURCES 170096 0 25000 0 0 0 12846 0 2007 0 209949 0 0 0 PAUL CANTABENE ASSOC DIRECTOR OF ATHLETICS 109198 0 182564 0 0 0 33636 0 11723 0 337121 0 0 0 GLENDA LEGENDRE VP OF MARKETING 155616 0 10000 0 0 0 11620 0 2091 0 179327 0 0 0 SUSAN GORMAN SR ASSOC VP OF ACAD AFFAIRS 165136 0 0 0 0 0 13160 0 13436 0 191732 0 0 0 CLAIRE E MOORE VP OF STUDENT AFFAIRS 143359 0 10000 0 0 0 10888 0 7782 0 172029 0 0 0 THOMAS A ALLEN ASSOC VP, CIO, INFORM TECH 151228 0 0 0 0 0 11889 0 11336 0 174453 0 0 0 HOUSING STIPEND SCHEDULE J, PART I, LINE 1A DR. KEVIN MANNING PURCHASED HIS OWN RESIDENCE BUT RECEIVES A HOUSING ALLOWANCE OF $35,000 PER YEAR FROM THE UNIVERSITY. ADDITIONALLY, THE UNIVERSITY PAYS A MEMBERSHIP FEE FOR THE PRESIDENT TO BE A MEMBER OF THE CENTER CLUB AND THE BALTIMORE COUNTRY CLUB IN BALTIMORE, MARYLAND. THE CLUBS ARE UTILIZED BY THE PRESIDENT FOR VARIOUS BUSINESS MEETINGS AND EVENTS. THE EXECUTIVE VICE PRESIDENT OF FINANCE, THE VICE PRESIDENT OF INSTITUTIONAL ADVANCEMENT, THE EXECUTIVE VICE PRESIDENT FOR ACADEMIC AFFAIRS, THE VICE PRESIDENT OF ENROLLMENT AND THE ASSOCIATE DIRECTOR OF ATHLETICS RECEIVE AN EXPENSE ALLOWANCE OF $7,500 PER YEAR. ALL OF THESE AMOUNTS ARE REPORTED AS TAXABLE COMPENSATION ON SCHEDULE J AND PART VII. SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN SCHEDULE J, PART I, LINE 4B TIMOTHY CAMPBELL, PAUL CANTABENE AND MARK HERGAN PARTICIPATE IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP) SPONSORED BY THE UNIVERSITY. DEFERRED COMPENSATION EARNED UNDER THIS PLAN IS REPORTED ON SCHEDULE J, PART II, COLUMN C ALONG WITH THE 403(B) PLAN INSTITUTIONAL PAYMENTS. SERP CONTRIBUTIONS WERE AS FOLLOWS: TIMOTHY CAMPBELL $30,000 PAUL CANTABENE $25,000 MARK HERGAN $25,000 A MARYLAND HEALTH AND HIGHER EDUCATION FACILITIES AU 520936091 999999999 2013-10-15 147670000 See PART VI false false false A 1707258 0 147670000 0 0 132350000 671511 0 0 0 13659947 988542 true false false true A false true true true false 0.01120 0.01120 false false false false A false true false false true true BANK OF AMERPNC 20. false false false 0 false true A false Part I, Line A, Column F Description of Purpose: Refinance and Fund New Construction X 44 29902 APPRAISAL X 5 26058 MEAN TRADING VALUE X LAB EQUIPMENT 1 4181 DONEE SUPPLIED X INDUSTRIAL DRESS FORMS 4 2257 SELLING PRICE X trophies 2 205 SELLING PRICE X OTHER SUPPLIES 4 4 OTHER 1 false true true SCHEDULE M, PART I, LINE 32B THE UNIVERSITY USES A BROKER TO SELL DONATED SHARES OF PUBLICLY TRADED STOCK. FORM 990 REVIEW PROCESS Form 990 Part VI Line 11b THE 990 INFORMATION IS COMPILED BY THE UNIVERSITY'S FINANCE OFFICE AND REVIEWED BY THE INDEPENDENT ACCOUNTING FIRM OF KPMG. THE DRAFT RETURN IS THEN PRESENTED TO AND REVIEWED BY THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE IS COMPRISED OF 7 MEMBERS SELECTED FROM THE UNIVERSITY'S CURRENT BOARD OF TRUSTEES. A COMPLETE COPY OF THE FORM 990 IS THEN EMAILED TO ALL MEMBERS OF THE BOARD OF TRUSTEES VIA A PASSWORD PROTECTED DOCUMENT. THE COMMITTEE MEMBERS HAVE A TEN DAY PERIOD OF TIME WHERE THEY ARE ENCOURAGED TO REVIEW AND COMMENT ON THE DOCUMENT PRIOR TO ITS FILING. CONFLICT OF INTEREST POLICY Form 990 Part VI Line 12c IT IS THE POLICY OF STEVENSON UNIVERSITY THAT THE MEMBERS OF ITS BOARD OF TRUSTEES AVOID ETHICAL, LEGAL, FINANCIAL AND OTHER CONFLICTS OF INTEREST AND TO ENSURE THAT THEIR ACTIVITIES AND INTERESTS DO NOT CONFLICT WITH THEIR OBLIGATIONS TO THE UNIVERSITY AND ITS WELFARE. THIS POLICY COVERS MATTERS RELATING TO THE BOARD MEMBER OR ANY RELATED PERSON. A RELATED PERSON IS DEFINED AS A MEMBER OF THE IMMEDIATE FAMILY OF THE BOARD MEMBER, ANY ENTITY OF WHICH THE BOARD MEMBER IS AN OFFICER, DIRECTOR OR TRUSTEE OR WITH RESPECT TO WHICH THE BOARD MEMBER HOLDS A SIMILAR POSITION, ANY ENTITY IN WHICH THE BOARD MEMBER HAS A MATERIAL FINANCIAL INTEREST; AND ANY OTHER PERSON OR ENTITY WITH WHOM THE BOARD MEMBER HAS A PERSONAL RELATIONSHIP THAT MIGHT REASONABLY BE EXPECTED TO AFFECT THE BOARD MEMBER'S JUDGMENT IN THE PARTICULAR MATTER. ON AN ANNUAL BASIS EACH MEMBER OF THE BOARD OF TRUSTEES WILL SUBMIT TO THE SECRETARY OF THE BOARD, AN ANNUAL SIGNED CONFLICT OF INTEREST REPORT. IF DURING THE COURSE OF THE YEAR, AN ACTUAL OR POTENTIAL CONFLICT ARISES, BOARD MEMBERS ARE REQUIRED TO DISCLOSE THEM TO THE SECRETARY OF THE BOARD BEFORE ANY BOARD ACTION WITH RESPECT TO THE MATTER IS TAKEN. ANY BOARD MEMBER WHO IS AWARE OF AN EXISTING OR POTENTIAL CONFLICT OF INTEREST WITH RESPECT TO A MATTER COMING BEFORE THE BOARD OR COMMITTEE OF THE BOARD SHALL NOT BE PRESENT FOR ANY DISCUSSION OR VOTE IN CONNECTION WITH THE MATTER, AND THE AFFIRMATIVE VOTE OF A MAJORITY OF THE DISINTERESTED BOARD MEMBERS OR COMMITTEE MEMBERS, AS THE CASE MAY BE, SHALL BE REQUIRED IN ORDER TO APPROVE, RATIFY OR AUTHORIZE THE MATTER. THE BOARD MEMBER WHO HAS AN INTEREST IN THE MATTER SHALL NOT BE COUNTED FOR THE PURPOSE OF DETERMINING THE PRESENCE OF A QUORUM AT THE MEETING AT WHICH THE MATTER IS CONSIDERED. COMPENSATION REVIEW PROCESS Form 990 Part VI Line 15a ON AN ANNUAL BASIS THE EXECUTIVE COMMITTEE, WHICH IS COMPRISED OF SIX INDEPENDENT MEMBERS SELECTED FROM OUR CURRENT BOARD OF TRUSTEES, MEETS TO EVALUATE THE PERFORMANCE OF THE PRESIDENT, CHIEF FINANCIAL OFFICER, EXECUTIVE VICE PRESIDENT FOR ACADEMIC AFFAIRS AND VICE PRESIDENT FOR UNIVERSITY ADVANCEMENT. DURING THIS MEETING, THE SALARIES ARE EVALUATED BY REVIEWING RESULTS OF COMPENSATION STUDIES PERFORMED BY AN INDEPENDENT ORGANIZATION. THE ORGANIZATION COMPILES THE WAGE INFORMATION OF TEN PEER COLLEGES AND UNIVERSITIES FROM THEIR FORM 990S FILED WITH THE IRS. THIS ENSURES THAT COMPENSATION LEVELS AT STEVENSON UNIVERSITY ARE WITHIN REASONABLE LEVELS TO OTHER INSTITUTIONS. MEETINGS OF THE EXECUTIVE COMMITTEE TAKE PLACE FOUR TIMES A YEAR. MINUTES ARE TAKEN AND RETAINED BY THE OFFICE OF THE PRESIDENT. IN JUNE OF EACH YEAR, THE COMMITTEE MEETS TO DISCUSS AND AUTHORIZE EXECUTIVE COMPENSATION FOR THE KEY EMPLOYEES LISTED ABOVE. FOR ALL OTHER ADMINISTRATIVE PERSONNEL EACH POSITION OR STATUS CHANGE IS BENCHMARKED AGAINST CUPA SALARY SURVEY COMPENSATION STANDARDS BY THE VICE PRESIDENT OF HUMAN RESOURCES TO ENSURE REASONABLE LEVELS OF COMPENSATION. GOVERNING DOCUMENTS Form 990 Part VI Line 19 THE UNIVERSITY MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC VIA ITS WEBSITE. COPIES OF THE AUDITED FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. Other Change in Net Assets Part XI, Line 9 Change in fair value of interest rate swap agreements: (4,247,077) BOULEVARD REALTY NO 2 LLC 1525 GREENSPRING VALLEY ROAD STEVENSON MD 21153 520705392 STUDENT DORMS MD 12348918 NA