2017-05-11T16:48:41-07:00 2016-06-30 990 2015-07-01 370673513 KNOX COLLEGE KNOX 3093417213 2 E South Street Galesburg IL 614014999 Keith A Archer Treasurer 3093417212 2017-05-11 2015 2021-01-29 14:40:06Z TERESA L AMOTT 2 E SOUTH STREET KNOX BOX 142 GALESBURG IL 614484999 110918734 0 X www.knox.edu X 1837 IL Knox College is dedicated to providing a liberal arts education to students from diverse backgrounds. Our mission is carried out through: our curriculum, the character of our learning environment, our residential campus culture, and our community. 59 58 1675 700 86342 -32765 16127624 14315573 65918587 67284073 10069932 3886874 0 0 92116143 85486520 31339124 33625121 0 0 28459301 29358533 0 0 3245742 19715365 20910527 79513790 83894181 12602353 1592339 197820060 195510828 48221235 51101670 149598825 144409158 Knox College is dedicated to providing a liberal arts education to students from diverse backgrounds. Our mission is carried out through: our curriculum, the character of our learning environment, our residential campus culture, and our community. 0 0 71136281 33625121 67186642 Higher Education: Our mission is carried out through our curriculum, the character of our learning environment, our residential campus culture, and our community. Knox College has a tradition of free inquiry, independent thought, and diverse perspectives. Our students choose their own path toward a degree, guided by scholar teachers who encourage them to explore ideas and places, stretch their intellect and their talents, blend thought with action, and fuse imagination with initiative. Founded in 1837 by social reformers strongly opposed to slavery, Knox was one of the first colleges in the United States open to both women and people of color. It was on our campus that Abraham Lincoln chose to denounce slavery on moral terms for the first time, during the 1858 Lincoln-Douglas Debate. With a campus population that includes students from 48 states and 51 countries, 25% U.S. students of color, and individuals from every imaginable religious and socioeconomic background, members of the Knox community are actively challenged to broaden their points of view. Knox College is a college that changes lives. 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RIDDELL RICHARD V CHAIR OF THE BOARD 2 0 X 0 0 0 REILLY THOMAS V LIFE TRUSTEE 0.25 0 X 0 0 0 ROSENBERG DIANE S LIFE TRUSTEE EMERITA 0.25 0 X 0 0 0 ROSENE LAURA CHAIR FOR COMMITTEE ON ACADEMIC AFFAIRS 2 0 X 0 0 0 SAUTER JOHN TRUSTEE 1 0 X 0 0 0 SCHULZ DAVID A LIFE TRUSTEE 0.25 0 X 0 0 0 SHARRY JANICE VYN CHAIR FOR COMMITTEE ON FACILITIES AND INFRASTRUCTURE 2 0 X 0 0 0 SMITH CHARLES F CHAIR FOR COMMITTEE ON TRUSTEES 2 0 X 0 0 0 SPARKS ROBER J LIFE TRUSTEE 0.25 0 X 0 0 0 SPAULDING DAN TRUSTEE 1 0 X 0 0 0 STEVENSON SMITH FAY LIFE TRUSTEE 0.25 0 X 0 0 0 TUCKER CAROLINE HAMBLIN LIFE TRUSTEE 0.25 0 X 0 0 0 VITALE ADAM TRUSTEE 1 0 X 0 0 0 VOVIS GERALD F CHAIR FOR COMMITTEE ON FINANCE 2 0 X 0 0 0 WALTER RALPH LIFE TRUSTEE 0.25 0 X 0 0 0 WEIR MORTON W HONORARY TRUSTEE 0.25 0 X 0 0 0 WINNING R KYLE TRUSTEE 1 0 X 0 0 0 ZUCKER SUSAN HAER TRUSTEE 1 0 X 0 0 0 AMOTT TERESA L PRESIDENT 55 0 X X 296596 0 34282 ARCHER KEITH TREASURER/VICE PRESIDENT BEGINNING SEPT 2016 40 0 X 67856 0 4083 AXTELL THOMAS B TREASURER/VICE PRESIDENT ENDING AUG 2015 40 0 X 108412 0 14174 BAILEY DENISE SECRETARY ENDING SEPT 2015 40 0 X 52446 0 9742 BEHLING LAURA VICE PRESIDENT/DEAN 40 0 X 171347 0 14549 JONES VICKY S ASSISTANT SECRETARY 40 0 X 61593 0 3019 HALL STEVE VICE PRESIDENT/CHIEF INFORMATION OFFICER 40 0 X 101132 0 22922 HOLMES BEVERLY VICE PRESIDENT 40 0 X 146764 0 15502 MAURER BOBBY JO CONTROLLER/ASSISTANT TREASURER 40 0 X 95219 0 11392 SCOTT MEGAN VICE PRESIDENT FOR COMMUNICATIONS 40 0 X 80868 0 22648 STEENIS PAUL VICE PRESIDENT 40 0 X 138836 0 17770 WARE PEGGY SECRETARY BEGINNING OCT 2015 40 0 X 14890 0 202 WILSON MARK J ASSOC VP ADVANCEMENT 40 0 X 130608 0 8062 BREITBORDE LAWRENCE PROFESSOR 40 0 X 127245 0 17532 SCHULTZ CHARLES REGISTRAR/PROFESSOR 40 0 X 101846 0 23901 1695658 0 219780 9 0 1 0 PJ HOERR INC 107 COMMERCE PLACE PEORIA IL 616045285 CONSTRUCTION 3471114 LA MAIR-MURDOCK-CONDON COMPANY SUITE 200 4200 UNIVERSITY AVE WEST DESMOINES IA 502665945 INSURANCE 637237 LAKE FLATO ARCHITECTS 311 3RD STREET SAN ANTONIO TX 78205 ARCHITECTS 371518 IES SUITE 2300 33 WEST MONROE STREET CHICAGO IL 606035405 OFF CAMPUS PROGRAMS 364234 ORIGINAL SMITH PRINTING INC 2 HARDMAN DRIVE BLOOMINGTON IL 61701 PRINTING SERVICES 225355 24 0 0 0 0 1400333 12915240 1383870 14315573 TUITION AND FEES 611310 56560609 56560609 0 0 AUXILIARY ENTERPRISES--CATERING 722320 97431 0 97431 0 AUXILIARY ENTERPRISES--PROGRAM 611710 10170913 10170913 0 0 455120 455120 0 0 67284073 2466386 0 -11089 2477475 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 26852702 0 25432214 0 1420488 0 1420488 0 0 1420488 0 0 85486520 67186642 86342 3897963 0 0 29845297 29845297 3779824 3779824 0 0 1578100 333189 977633 267278 0 0 0 0 21695684 16317321 3582572 1795791 778736 559537 150910 68289 3769422 2780550 680459 308413 1536591 1104070 297774 134747 308488 0 272531 35957 3142367 1494927 1332515 314925 64470 9796 36608 18066 6024176 5712763 215994 95419 146409 -47425 188972 4862 1608287 4840 1603447 0 1443415 1185058 62468 195889 0 0 0 0 96675 65187 24932 6556 1240447 995926 244521 0 0 0 0 0 3493407 2645675 847732 0 429771 33729 396042 0 Auxiliaries Food Svc 2912615 2912615 0 0 Allocations--M&R, Admin.Exp 0 1403402 -1402952 -450 0 0 0 0 83894181 71136281 9512158 3245742 2966156 1807520 7875901 5617978 1923062 1866043 989401 1990799 0 0 0 0 0 0 88922 115298 1208408 632848 120975378 67943723 49587280 53031655 116519146 115547941 699944 0 0 0 0 0 15961840 14900746 197820060 195510828 3108906 4447546 0 0 404753 466275 24700000 24700000 0 0 0 0 0 0 0 0 20007576 21487849 48221235 51101670 X 33406246 28095197 32535906 31556934 83656673 84757027 149598825 144409158 197820060 195510828 X 1592339 -3623645 0 0 0 -3158361 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 X X X X 0 127782026 4197693 -1437254 6647903 172186 0 123722376 124428259 6302779 1469988 4421000 -2000 0 127782026 98752347 11130470 18787764 4155000 87322 0 124428259 84362700 7112866 11350743 3998073 75889 0 98752347 84085106 2153598 681058 2486588 70474 0 84362700 0.1801 0.6746 0.1453 0 0 0 2903958 2903958 0 81437690 45054760 36382930 0 0 0 0 0 21524904 17690246 3834658 0 15108826 5198717 9910109 53031655 BENEFICIAL INTEREST IN PERPETUAL TRUST 11215451 STUDENT LOANS RECEIVABLE 3675465 DEPOSITS HELD IN TRUST 9830 14900746 0 LINE OF CREDIT FOR CAPITAL PURPOSES 7483559 STUDENT DEPOSITS 508217 DEPOSITS HELD IN CUSTODY FOR OTHERS 201966 ANNUITIES PAYABLE 968989 POSTRETIREMENT BENEFIT OBLIGATION 1861691 FEDERAL EQUITY IN LOAN PROGRAMS 2033643 INTEREST RATE SWAPS LIABILITY 7654654 CAPITAL LEASE OBLIGATIONS PAYABLE 775130 21487849 X 48237754 -3623645 0 0 0 -3623645 51861399 0 33625121 33625121 85486520 50269060 0 0 0 0 0 50269060 0 33625121 33625121 83894181 Schedule D, Part III, Line 1 Collections: The College has collections of valuable artwork, papers, and other memorabilia that were donated to the College. These items are on display and are used by educators, researchers, historians, and others. These contributed collections are not reflected on the financial statements. However, all proceeds from any sales of collections, or items in a collection, must be used to acquire other items for collections. As of June 30, 2016 and 2015, there were no unspent proceeds from sales of collections. (From Note 1 Knox College Financial Statements and Independent Auditor's Report for the Year Ended June 30,2016.) Schedule D, Part III, Line 4 The College has collections of valuable artwork, papers, and other memorabilia that were donated to the College. These items are on display and are used by educators, researchers, historians, and others. (From Note 1 Knox College Financial Statements and Independent Auditor's Report for the Fiscal Year Ended June 30, 2016.) Schedule D, Part V, Line 4 The College's endowment consists of several individual funds established for a variety of purposes: scholarships, professorships, library, lectureships, research, prizes, and donor specified educational activities. Included in these funds are both donor-restricted endowment funds and funds designated by the Board of Trustees to function as endowments. (From Note 20 of Knox College Financial Statements and Independent Auditor's Report For the Year Ended June 30, 2016.) Schedule D, Part X, Line 2 The College is a not-for-profit entity as described in Section 501(c)(3) of the Internal Revenue Code (IRC) and is exempt from federal income taxes on related income pursuant to Section 501(a) of the IRC and similar provisions of the state tax code. The College is not classified as a private foundation. (From Note 2 of Knox College Financial Statements and Independent Auditor's Report For the Year Ended June 30, 2016.) Schedule D, Part XI, Line 4b STUDENT AID AND SCHOLARSHIPS and PRIZES $33,625,121 Schedule D, Part XII, Line 4b STUDENT AID AND SCHOLARSHIPS and PRIZES $33,625,121 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Knox College's nondiscrimination policy is clearly stated in the College catalog, website, admissions materials, applications, and other publications. Schedule E, Part I, Line 6 Schedule E Line 6 Government Financial Aid Explanation__For the fiscal year, Knox College received awards from the following federal programs: Federal Work Study, Federal Direct Loan Program, Federal Supplemental Educational Opportunity Grant Program, Federal Pell Grant, Federal Perkins Loan Program, Student Support Services Program, McNair Post-Baccalaureate Achievement, Chapter 33 Post 911 GI Bill, National Science Foundation, and National Endowment for the Arts. 1 South America 1 1 Program Services Buenos Aires In cooperation with the University of Palermo in Buenos Aires, Knox offers a term of accredited academic study specially designed to emphasize the social sciences and language. Program offerings vary, but recent courses have included: Introduction to Anthropology, Popular Culture in Latin America, Argentine Society, Social Thought, and Culture, Latin American Art, History of 20th Century Latin America, Politics and Government in Latin America, Evolution of Argentine Society, Latin American Literature, Advanced Spanish Language, and Social Cinema of Argentina. Courses are taught in Spanish by University of Palermo professors. All students take a language course (which includes two educational trips outside Buenos Aires, and several within the city) and pursue a combination of electives, mostly chosen from those offered by the program. 133093 Europe (including Iceland and Greenland) 1 2 Program Services Spain-Barcelona Knox, in cooperation with the University of Barcelona, offers academic study in language, the humanities and the social sciences. Students pursue a combination of courses, all taught in Spanish by professors from the University of Barcelona. Some of the courses are fitted to the particular needs of program students; other courses are from the regular University curriculum offered to Spanish students. All students live in the homes of Spanish families in Barcelona. The program has a two-week trip throughout southern Spain during Winter Break as well as other shorter educational field trips. 383241 Europe (including Iceland and Greenland) 1 1 Program Services France-Besancon The Knox program is the principal American program at the University in Besancon. Besancon is a city of 120,000 people, with 20,000 students at the University. Participants take courses for foreign students in language and culture, plus several courses chosen from the regular University curriculum to meet individual needs. All courses are taught in French by the University of Besancon professors. Students with majors other than French may continue study in their major fields. All students stay with French families for the October orientation period, then live during the year or term in University dormitories with French and foreign students. 208697 Central America and the Caribbean 0 0 Investments Investment with Lazard LTD (WCM) located in Bermuda. 230000 3 4 955031 SCHOLARSHIPS Central America and the Caribbean 2 64700 CREDIT TO STUDENT ACCOUNT 0 SCHOLARSHIPS East Asia and the Pacific 73 1389527 CREDIT TO STUDENT ACCOUNT 0 SCHOLARSHIPS Europe (including Iceland and Greenland) 15 379181 CREDIT TO STUDENT ACCOUNT 0 SCHOLARSHIPS North America (including Canada and Mexico, but not the United States) 9 285844 CREDIT TO STUDENT ACCOUNT 0 SCHOLARSHIPS Russia and the newly independent States 1 29685 CREDIT TO STUDENT ACCOUNT 0 SCHOLARSHIPS South America 5 129022 CREDIT TO STUDENT ACCOUNT 0 SCHOLARSHIPS South Asia 51 1163804 CREDIT TO STUDENT ACCOUNT 0 SCHOLARSHIPS Sub-Saharan Africa 16 338061 CREDIT TO STUDENT ACCOUNT 0 0 0 0 0 0 0 Schedule F, Part I, Line 2 Financial Aid and Satisfactory Academic Progress Standards To remain at Knox, all degree-seeking students are expected to make satisfactory academic progress. Satisfactory progress is defined both in terms of the accumulation of credits toward the degree, and as the maintenance of a gradepoint average consistent with graduation requirements. The Financial Aid Office follows the decisions of the Academic Standing Committee in determining whether a student is meeting the College's satisfactory academic progress standards 1 INDIVIDUAL GIFT AID (GRANTS AND/OR SCHOLARSHIPS TO STUDENTS) 1246 29845297 0 Schedule I, Part I, Line 2 Financial Aid and Satisfactory Academic Progress Standards: To remain at Knox, all degree-seeking students are expected to make satisfactory academic progress. Satisfactory progress is defined both in terms of the accumulation of credits toward the degree, and as the maintenance of a gradepoint average consistent with graduation requirements. The Financial Aid Office follows the decisions of the Academic Standing Committee in determining whether a student is meeting the College's satisfactory academic progress standards. X X 1 1 X X 0 0 0 0 0 0 0 0 0 AMOTT TERESA L PRESIDENT 296596 0 0 0 0 0 22282 0 12000 0 330878 0 0 0 BEHLING LAURA VICE PRESIDENT/DEAN 171347 0 0 0 0 0 14549 0 0 0 185896 0 0 0 HOLMES BEVERLY VICE PRESIDENT 146764 0 0 0 0 0 15502 0 0 0 162266 0 0 0 STEENIS PAUL VICE PRESIDENT 138836 0 0 0 0 0 17770 0 0 0 156606 0 0 0 Schedule J, Part I, Line 1a Occasionally the President's husband will accompany the President on College fund raising events. The College provides funding for his travel costs. These travel costs are not considered compensation as he is participating in fundraising for the College. Reimbursements for travel cost must follow the College's purchasing and accounts payable policies. These policies include requirements for documentation and receipts. The President is provided housing by the College. The President's house is considered a part of the College's campus and is used for College events and entertaining. The President's housing is considered nontaxable as it is provided for the convenience of the College. Schedule J, Part I, Line 3 Compensation is reviewed annually. This review includes cost of living statistics, compensation paid for similar positions at other similar colleges, and compensation paid locally for like positions. A standard achievement increase is determined and is approved by the Board of Trustees during the June meeting in conjunction with the approval of the following year's budget. All staff increases are reviewed by the President, Vice Presidents, and heads of departments. The Board of Trustees follows the principal and policies outlined in Knox's executive compensation program as approved May 2, 2016. Compensation for executives of the College is determined by evaluation of a variety of factors, including the skills, tenure, experience and performance of the executive; the difficulty of replacing the executive and the importance of the position to the College; and historical compensation levels and internal pay equity issues. All compensation and other financial benefits for College employees who are Disqualified Persons are to be approved in advance of payment or agreement for payment by the Executive Committee of the Board of Trustees. X 40 1277670 High Low Value Date of Gift X 2 106200 FMV Appraisal 2 0 1 0 Form 990, Part VI, Section B, Line 11b The 990 was reviewed by the Chair of the Audit Subcommittee and the Chair of the Committee on Finance. The 990 is made available to all College Trustees for review. Form 990, Part VI, Section B, Line 12c Officer's Conflict of Interest: Any conflict of interest on the part of an officer of the College designated in this article, or members of such officer's immediate family, shall be disclosed by the officer in writing to the Board of Trustees at least annually and made a matter of record. When any such interest becomes relevant to any subject requiring administration or Board of Trustees' action, the officer having a conflict shall call it to the attention of the President and, if the matter is being considered by the Board of Trustees or one of its committees, to the attention of the Board or such committee. The officer shall not participate in the discussion of the subject or make any recommendations regarding the subject in which the officer or a member of the officer's immediate family has a conflict of interest, and shall not use personal influence to affect the decision with respect to such subject. An officer of the College who is excluded from participating in discussions or making recommendations regarding the subject because of such conflict or interest shall, however, briefly state the nature of the conflict and shall be encouraged to answer pertinent questions of the Trustees when the officer's knowledge of the subject will assist the Board of Trustees, any of its committees or the administration. The minutes of any meeting attended by the interested officer at which the subject is discussed shall reflect that a disclosure was made and that the interested officer abstained from the discussion except to the extent provided above. (From Bylaws of Knox College) Form 990, Part VI, Section B, Line 13 Each year, during fall term, a memo is sent via e-mail to all employees reminding them of Knox College's "common sense approach to reporting fraud". Included in this message are instructions on how to report suspected fraud. This memo includes the following instructions: "If you suspect fraud, please immediately notify someone in a position of authority, for example, your supervisor, a department head, a dean or vice president, the president or trustee who chairs the audit subcommittee." Form 990, Part VI, Section B, Line 14 The College does not have a written document retention and destruction policy, however, record retention and destruction policies are developed, as needed, by each department to address their specific type(s) of records. Departments follow industry standards that are appropriate for their specific type(s) of records. In conjunction with record destruction for confidential records, the College contracted with a vendor to provide locked bins for departmental use and the secure destruction of these records. Form 990, Part VI, Section B, Line 15 Compensation is reviewed annually. This review includes cost of living statistics, compensation paid for similar positions at other similar colleges, and compensation paid locally for like positions. A standard achievement increase is determined and is approved by the Board of Trustees during the June meeting in conjunction with the approval of the following year's budget. The Board of Trustees reviews the President's salary and approves any changes. All staff increases are reviewed by the President, Vice Presidents, and heads of departments. Form 990, Part VI, Section C, Line 17 The College is not required to file a copy of Form 990 with the State of Illinois or any other state. Form 990, Part VI, Section C, Line 19 The Bylaws of the College are available on the College's website (www.knox.edu). Each fall, conflict of interest forms are distributed to trustees, officers, and department heads. Financial statements are available upon request to the Treasurer's Office. All trustees are provided copies of the financial statements each year. Form 990, Part XI, Line 9 CHANGE IN FAIR VALUE OF INTEREST RATE SWAPS $(2,261,092); POSTRETIREMENT BENEFIT CHANGES $183,746; ADJUSTMENTS OF AMOUNTS DUE ANNUITY AND LIFE INCOME AGREEMENTS $(37,956); CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUST $(1,043,059)