2017-02-23T15:55:50-06:00 2016-06-30 410746749 CLIFTONLARSONALLEN LLP 600 3RD AVE SE STE 300 CEDAR RAPIDS IA 52401 990 2015-07-01 420680335 CORNELL COLLEGE CORN 3198954383 600 FIRST STREET SW MOUNT VERNON IA 52314 KAY LANGSETH TREASURER & VP OF BUSINESS 3198954383 2017-02-14 1 AMY HENDLEY P01300654 3193632697 2015 2021-01-29 14:40:06Z JONATHAN BRAND 600 FIRST STREET SW MOUNT VERNON IA 52314 77780791 0 X WWW.CORNELLCOLLEGE.EDU X 1854 IA CORNELL COLLEGE OFFERS AN INNOVATIVE AND RIGOROUS LEARNING COMMUNITY WHERE FACULTY AND STAFF COLLABORATE WITH STUDENTS TO DEVELOP THE INTELLECTUAL CURIOSITY, CREATIVITY AND MORAL COURAGE NECESSARY FOR A LIFETIME OF LEARNING AND ENGAGED CITIZENSHIP. 28 28 1154 30 16707 0 23933935 6900178 48635815 47778486 5701990 999297 241813 305079 78513553 55983040 22997831 21831233 0 0 17675929 19300551 90404 82290 2434344 17826025 18539398 58590189 59753472 19923364 -3770432 190612434 184413049 34476467 33708447 156135967 150704602 X CORNELL COLLEGE OFFERS AN INNOVATIVE AND RIGOROUS LEARNING COMMUNITY WHERE FACULTY AND STAFF COLLABORATE WITH STUDENTS TO DEVELOP THE INTELLECTUAL CURIOSITY, CREATIVITY AND MORAL COURAGE NECESSARY FOR A LIFETIME OF LEARNING AND ENGAGED CITIZENSHIP. 0 0 37514884 21831233 39245393 INSTRUCTION, ACADEMIC SUPPORT, CONTINUING EDUCATION IN THE LIBRARY:CORNELL COLLEGE, A SELECTIVE LIBERAL ARTS COLLEGE IN MOUNT VERNON, IOWA, IS RECOGNIZED AS ONE OF THE "COLLEGES THAT CHANGE LIVES." THE ACADEMIC IMMERSION OF ITS ONE COURSE AT A TIME CURRICULUM ALLOWS STUDENTS TO FOCUS ON A SINGLE ACADEMIC SUBJECT PER 18-DAY BLOCK. SINCE PROFESSORS ONLY TEACH ONE BLOCK AT A TIME, STUDENTS HAVE MORE ACCESS TO PROFESSORS, AND PROFESSORS CAN TEACH STUDENTS OFF-CAMPUS IN WHATEVER VENUE BEST FITS THE MATERIAL. WITH A STUDENT BODY FROM 47 STATES AND 17 FOREIGN COUNTRIES, AND RENOWNED VISITING SPEAKERS, FACULTY, AND ENTERTAINERS, CORNELL OFFERS THE WORLD FROM ITS HILLTOP CAMPUS. 8551660 0 257608 STUDENT AID AND FINANCIAL ASSISTANCE:STUDENTS INVEST IN THEIR EDUCATION AT CORNELL COLLEGE, AND CORNELL INVESTS IN THEIR FUTURES. CORNELL IS CONSISTENTLY DESCRIBED AS A "BEST BUY," MOST RECENTLY IN THE 2016 FISKE GUIDE. APPROXIMATELY 93% OF CORNELL GRADUATES COMPLETE THEIR DEGREES IN FOUR YEARS OR LESS, AND 55% OF CORNELL GRADUATES COMPLETE AN ADVANCED DEGREE. CORNELL'S LAW SCHOOL ACCEPTANCE RATE IS 85% COMPARED TO THE NATIONAL AVERAGE OF 80%. CORNELL'S MEDICAL SCHOOL ACCEPTANCE RATE IS 75% COMPARED TO THE NATIONAL AVERAGE OF 40%. CORNELL HAS SINCE 1996 BEEN KNOWN AS ONE OF THE "COLLEGES THAT CHANGE LIVES," BASED ON THE LOREN POPE BOOK NOW IN ITS FOURTH EDITION. ITS DISTINCTIVE CURRICULUM WITHIN THE LIBERAL ARTS PROVIDES A SOLID PATH TO PROFESSIONAL ACHIEVEMENT AND PERSONAL FULFILLMENT. 7320489 0 8275485 AUXILIARY ENTERPRISES (HOUSING, DINING, STUDENT UNION AND SERVICE CENTER):FOUNDED IN 1853, CORNELL'S PICTURESQUE HILLTOP CAMPUS CONTAINS A MIX OF HISTORIC AND MODERN FACILITIES, RANGING FROM THE MAJESTIC KING CHAPEL TO THE NEWLY RENOVATED THOMAS COMMONS. IT IS LOCATED IN MOUNT VERNON, IOWA-AN URBAN FRINGE COMMUNITY RECOGNIZED BY FROMMER'S AS ONE OF "AMERICA'S COOLEST SMALL TOWNS AND LOCATED IN THE HEART OF IOWA'S CREATIVE CORRIDOR. CORNELL'S HILLTOP CAFE WAS NAMED THE SECOND BEST DINING HALL IN THE NATION BY BESTCOLLEGES.COM IN 2015. 53387033 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 0 1 0 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 145 0 1154 1 1 1 0 0 0 0 0 0 0 0 0 X 28 28 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X MARIA BEAMER 3198954245 600 FIRST STREET SW MOUNT VERNON IA 52314 JOHN D MCGRANE BOARD CHAIR 4.00 X X 0 0 0 GILDA V BOYER CHAIR, ELECT, VICE CHAIR COLLEGE ADVANCEMENT 3.00 X X 0 0 0 THOMAS DURHAM CHAIR, GOVERNANCE COMMITTEE 3.00 X X 0 0 0 MILDRED CARSTENSEN AT-LARGE 3.00 X X 0 0 0 JEAN RUSSELL VICE CHAIR, ACADEMIC/STUDENT AFFAIRS 3.00 X X 0 0 0 LOREN HIRATZKA VICE CHAIR, ENROLLMENT & COMM POLICY 3.00 X X 0 0 0 LINDA KOEHN VICE CHAIR, BLDS & GROUNDS POLICY 3.00 X X 0 0 0 FRANCES KAO VICE CHAIR, BUSINESS AFFAIRS POLICY 3.00 X X 0 0 0 JOHN BICKEL TRUSTEE 1.00 X 0 0 0 ANDREW BRISCOE TRUSTEE 1.00 X 0 0 0 PETER S BRYANT TRUSTEE 1.00 X 0 0 0 ALBERT CORNELISON TRUSTEE 1.00 X 0 0 0 STEVEN DEANGELES TRUSTEE 1.00 X 0 0 0 NEIL ECKLES TRUSTEE 1.00 X 0 0 0 MARICRUZ GUTIERREZ-VILLA TRUSTEE 1.00 X 0 0 0 ANGELICA HALL TRUSTEE 1.00 X 0 0 0 KALISSA HOLDCRAFT TRUSTEE 1.00 X 0 0 0 FRED HOLTZ TRUSTEE 1.00 X 0 0 0 JEFFREY JENSEN TRUSTEE 1.00 X 0 0 0 MAUREEN JOHNSON TRUSTEE 1.00 X 0 0 0 JUDY JORGENSEN TRUSTEE 1.00 X 0 0 0 TAYLOR KOCH TRUSTEE 1.00 X 0 0 0 STUART LEHR TRUSTEE 1.00 X 0 0 0 ROBERT MCLENNAN TRUSTEE 1.00 X 0 0 0 EDWARD MEADS TRUSTEE 1.00 X 0 0 0 PETER MORRIS TRUSTEE 1.00 X 0 0 0 JANENE PANFIL TRUSTEE 1.00 X 0 0 0 JERRY N RINGER TRUSTEE 1.00 X 0 0 0 SCOTT SIMMER TRUSTEE 1.00 X 0 0 0 JOHN SMITH TRUSTEE 1.00 X 0 0 0 SHERYL ATKINSON STOLL TRUSTEE 1.00 X 0 0 0 JAN THOMAS TRUSTEE 1.00 X 0 0 0 JOHN TURNER TRUSTEE 1.00 X 0 0 0 MAXINE URHEIM TRUSTEE 1.00 X 0 0 0 RICHARD WILLIAMS TRUSTEE 1.00 X 0 0 0 JONATHAN BRAND PRESIDENT 60.00 X 294592 0 42319 KAY LANGSETH TREASURER/VP OF BUSINESS AFFAIRS 50.00 X 161262 0 22194 PAM GERARD VP FOR ADVANCEMENT 50.00 X 176936 0 21655 RONALD JOE DIEKER VP FOR ACADEMIC AFFAIRS 50.00 X 158077 0 23933 COLLEEN MURPHY VP FOR ENROLLMENT 50.00 X 158427 0 20413 JOHN HARP VP FOR STUDENT AFFAIRS 50.00 X 116533 0 17493 PAUL GRAY PROFESSOR 50.00 X 108294 0 14000 JOEL MILLER FACILITIES STAFF DIRECTOR 50.00 X 105561 0 195 1279682 0 162202 8 0 1 0 BON APPETIT 100 HAMILTON AVE 400 PALO ALTO CA 94301 CAMPUS FOOD SERVICE 2715708 MA MORTENSON COMPANY 700 MEADOW LN N MINNEAPOLIS MN 55422 GENERAL CONTRACTOR - DORM PROJECT 1747115 SOUTHEAST SERVICE CORPORATION 1845 MIDPARK RD 201 KNOXVILLE TN 37921 CAMPUS CLEANING SERVICE 943308 PIPEPRO INC 6633 8TH ST SW CEDAR RAPIDS IA 52404 PLUMBING, PIPEFITTING 345047 PER MAR SECURITY 510 1ST ST SW CEDAR RAPIDS IA 52404 CAMPUS SECURITY 218838 14 463345 6436833 407209 6900178 TUITION AND FEES 611710 38702466 38702466 DINING 611710 4530636 4530636 RESIDENCE 611710 3744849 3744849 EDUCATIONAL TRIPS 611710 542927 542927 STUDENT ACTIVITIES 611710 257608 257608 47778486 358676 16707 341969 338081 142093 195988 195988 195988 22244066 21603445 640621 640621 640621 42157 52213 -10056 -10056 OTHER FEES 713940 45068 45068 ATHLETICS 900099 41739 41739 AID ADMINISTRATION 900099 32340 32340 119147 55983040 47778486 16707 1287669 21831233 21831233 718955 520367 198588 15057804 12799097 1149165 1109542 924982 798146 81751 45085 1413832 1190337 144733 78762 1184978 971682 142197 71099 14978 14978 77893 77893 82290 82290 169121 169121 386403 256133 132694 -2424 1002743 771553 56907 174283 1258750 872272 276717 109761 513267 307960 153980 51327 907839 798898 72627 36314 1419046 1265052 67184 86810 379492 277941 40269 61282 627376 612704 14672 4311984 3794546 344959 172479 510171 306103 153051 51017 DINING 3123728 3123728 UTILITIES 1239584 1090834 99167 49583 CUSTODIAL SERVICES 780847 687145 62468 31234 LIBRARY & AUDIO VISUAL 682808 600871 54625 27312 1133368 1030798 102570 59753472 53387033 3932095 2434344 10941313 8439059 24706068 22604688 166179 515699 586668 74257 0 704274 132884448 54409028 77280615 78475420 41945657 40872416 22741469 20648021 2090619 1872193 10153846 10207022 190612434 184413049 4615283 2380340 20935000 19965000 218166 4520755 0 8708018 6842352 34476467 33708447 X 61481082 60160809 28128732 21257536 66526153 69286257 156135967 150704602 190612434 184413049 X -3770432 -2796400 1135467 X 0 1 X 1 1 1 X 6627075 7478201 16907006 23933935 6900178 61846395 6627075 7478201 16907006 23933935 6900178 61846395 11386326 50460069 -949126 541250 552182 612824 602985 1360115 33996 512413 216245 111474 119147 993275 64199785 242491543 0.78600 0.76470 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2011 AMOUNT: $ 33,996. 2012 AMOUNT: $ 512,413. 2013 AMOUNT: $ 216,245. 2014 AMOUNT: $ 111,474. 2015 AMOUNT: $ 119,147. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 74517007 2662491 -2174730 3962224 116410 70926134 73773269 1879704 1857345 2993311 74517007 66999430 2022993 7503131 2752285 73773269 63666636 2087182 3898357 2652745 66999430 65046494 245098 761164 2386120 63666636 0.04720 0.91600 0.03680 0 0 100000 3541215 3641215 2999492 109777613 42581860 70195245 15269436 11827168 3442268 1196692 1196692 78475420 HEDGE FUND 11474771 F NATURAL RESOURCE FUND 982576 F PRIVATE EQUITY FUND 3200738 F REIT 4984812 F OTHER 5124 F 20648021 ASSETS HELD IN TRUST 4432006 UNITRUSTS 1775643 CONTRACTS AND MISC 10342 CSV LIFE INSURANCE 3703813 BOND ISSUANCE COSTS, NET 285218 10207022 US GOVERNMENT LOANS, REFUNDABLE 870335 STUDENT TUITION PAID IN ADVANCE 172598 ANNUITIES PAYABLE 925863 LIFE-INCOME PAYABLE 904950 CONTRACT ADVANCES 3539795 ASSET RETIREMENT OBLIGATION 428811 6842352 X 31266086 -2796400 194306 -2602094 33868180 169121 21945739 22114860 55983040 36697451 -1249973 194306 -1055667 37753118 169121 21831233 22000354 59753472 PART V, LINE 4: THE COLLEGE HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ITS ENDOWMENT FUND. ONE OF THE OBJECTIVES OF THIS FUND IS TO PROVIDE A PREDICTABLE FUNDING STREAM FOR ITS PROGRAMS WHILE MAXIMIZING RETURNS ON THE INVESTMENTS. THE COLLEGE HAS ADOPTED POLICIES TO COMPLY WITH FAS 117-1 AND UPMIFA AS ADOPTED BY THE 2008 IOWA LEGISLATURE. PART X, LINE 2: THE COLLEGE IS RECOGNIZED AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE COLLEGE MAY BE SUBJECT TO FEDERAL AND STATE INCOME TAXES ON ANY NET INCOME FROM UNRELATED BUSINESS ACTIVITIES. THE COLLEGE FILES A FORM 990 (RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX) ANNUALLY AND UNRELATED BUSINESS INCOME (UBI) IS REPORTED ON FORM 990-T, AS APPROPRIATE. MANAGEMENT HAS EVALUATED THEIR MATERIAL TAX POSITIONS, WHICH INCLUDE SUCH MATTERS AS THE TAX EXEMPT STATUS AND VARIOUS POSITIONS RELATIVE TO POTENTIAL SOURCES OF UBI. AS OF JUNE 30, 2016 AND 2015, THERE WERE NO UNCERTAIN TAX BENEFITS IDENTIFIED AND RECORDED AS A LIABILITY. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 142,093. SPECIAL EVENT EXPENSES 52,213. PART XI, LINE 4B - OTHER ADJUSTMENTS: ACTUARIAL ADJUSTMENT 114,506. SCHOLARSHIPS AND GRANTS NETTED WITH TUITION 21,831,233. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 142,093. SPECIAL EVENT EXPENSES 52,213. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS NETTED WITH TUITION 21,831,233. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 CORNELL COLLEGE HAS THE FOLLOWING STATEMENT ON THE APPLICATION FOR ADMISSION: "CORNELL COLLEGE ADMITS QUALIFIED STUDENTS OF ANY RACE, COLOR, NATIONAL OR ETHNIC ORIGIN, AGE RELIGION, SEXUAL ORIENTATION, AND DISABILITY. CORNELL COLLEGE IS AN AFFIRMATIVE ACTION, EQUAL OPPORTUNITY INSTITUTION." THIS APPLICATION WOULD BE GIVEN TO ANY PERSON WANTING TO ATTEND CORNELL, AND THUS, WOULD BE KNOWN TO ALL PARTS OF THE COMMUNITY IT SERVES. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FEDERAL AND STATE GRANTS. CENTRAL AMERICA & CARIBBEAN 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAM 106644 EUROPE 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAM 65510 EAST ASIA & THE PACIFIC 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAM 121188 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAM 51657 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAM 45836 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS N/A 11885938 0 0 0 0 0 0 12276773 0 12276773 1 0 1 1 1 0 PART I, LINE 3: ACCRUAL X X X X X X X 1 GRENZEBACH GLIER & ASSOCIATES PO BOX 88277 CHICAGO IL 60680 CAMPAIGN FEASABILITY STUDY 0 0 82290 -82290 82290 -82290 IL GOLF OUTING 24719 24719 2618 3275 2867 1637 3081 HOMECOMING 17438 17438 0 0 5624 22558 4772 5781 42157 42157 2618 8899 25425 6409 8862 52213 -10056 1 EDUCATION - TUITION REMISSION 26 760412 N/A N/A EDUCATION - SEOG GRANTS 332 174856 N/A N/A EDUCATION - GENERAL GRANTS 654 5484087 N/A N/A EDUCATION - INTERNATIONAL SCHOLARSHIPS 1 38475 N/A N/A ENDOWED AND OTHER SCHOLARSHIPS 942 15373403 N/A N/A PART I, LINE 2: CORNELL MONITORS ALL GRANT RESOURCES THROUGH FEDERAL, STATE, AND INSTITUTIONAL AUDITS AS WELL AS FEDERAL, STATE, AND INTERNAL POLICY AND PROCEDURES AS WELL AS PERIODIC AUDITING BY AND REPORTING TO THE FEDERAL DEPARTMENT OF EDUCATION, AN INDEPENDENT AUDIT FIRM COMPLETES AN ANNUAL AUDIT OF ALL GRANTS AND OTHER ASSISTANCE CORNELL'S MANAGEMENT TAKES THE NECESSARY STEPS TO INSURE CORNELL IS IN COMPLIANCE WITH THE MANY FEDERAL REGULATIONS RECIPIENTS OF GRANT AND OTHER ASSISTANCE ARE SELECTED ON AN EQUAL OBJECTIVELY DETERMINABLE BASIS WITH OTHER RECIPIENTS. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 JONATHAN BRAND PRESIDENT 293351 0 0 0 1241 0 22641 0 19678 0 336911 0 0 0 KAY LANGSETH TREASURER/VP OF BUSINESS AFFAIRS 160408 0 0 0 854 0 12410 0 9784 0 183456 0 0 0 PAM GERARD VP FOR ADVANCEMENT 173937 0 0 0 2999 0 13316 0 8339 0 198591 0 0 0 RONALD JOE DIEKER VP FOR ACADEMIC AFFAIRS 157527 0 0 0 550 0 12180 0 11753 0 182010 0 0 0 COLLEEN MURPHY VP FOR ENROLLMENT 157897 0 0 0 530 0 12063 0 8350 0 178840 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS - CORNELL'S PRESIDENT AND A FEW KEY EMPLOYEES IN THE ALUMNI AND ADVANCEMENT OFFICE WILL OCCASIONALLY TRAVEL WITH THEIR SPOUSES TO VARIOUS CORNELL FUNCTIONS, BECAUSE THEY ARE OFTEN TIMES ALUMNI AND ALSO ADVOCATES OF THE COLLEGE. RESIDENCE FOR PERSONAL USE - PRESIDENT BRAND IS REQUIRED TO LIVE AND ENTERTAIN IN THE PRESIDENT'S HOME WHICH IS OWNED BY THE COLLEGE. A IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 2013-07-23 22990000 SEE PART VI 0 0 0 A 3025000 22990405 269268 9024193 13696944 2014 1 0 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 1 A 1 SCHEDULE K, PART I, COLUMN (F) (I) REFUNDING THE IOWA HIGHER EDUCATION LOAN AUTHORITY PRIVATE COLLEGE FACILITY REVENUE BONDS (CORNELL COLLEGE PROJECT), SERIES 2006 ORIGINALLY ISSUED ON OCTOBER 24, 2006; (II) REFUNDING THE IOWA HIGHER EDUCATION LOAN AUTHORITY PRIVATE COLLEGE FACILITY REVENUE AND REFUNDING BONDS (CORNELL COLLEGE PROJECT), SERIES 2008 ORIGINALLY ISSUED ON JUNE 20, 2008; AND (III) THE CONSTRUCTION AND EQUIPPING OF AN ADDITION TO THOMAS COMMONS, RENOVATION OF OLIN HALL, TECHNOLOGY UPGRADES, ADDITIONS TO BOWMAN-CARTER HALL AND PAULEY-ROREM HALLS AND ADDITION OF FOOTBALL TURF. SCHEDULE K, PART II, LINE 3 INCLUDES INVESTMENT EARNINGS X 41 407209 AVERAGE SHARE PRICE 0 0 1 0 PART I, COLUMN (B): COLUMN (B) REPORTS THE NUMBER OF TIMES DONORS CONTRIBUTED STOCK/SECURITIES OF ONE OR MORE TYPES DURING THE TAX YEAR. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED IN DETAIL BY THE BUSINESS AFFAIRS COMMITTEE OF THE BOARD. THE FORM 990 IS FINALIZED AND POSTED TO THE CORNELL COLLEGE SECURED BOARD WEBSITE AND MADE AVAILABLE FOR REVIEW BY EACH MEMBER PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR, A CONFLICT OF INTEREST POLICY IS DISTRIBUTED TO EACH BOARD MEMBER. THEY ARE REQUIRED TO COMPLETE THIS FORM AND RETURN IT TO CORNELL. IN THE PERIOD BETWEEN THE FILING OF THE ANNUAL FORMS, IF AN INDIVIDUAL COVERED BY THIS POLICY BELIEVES THAT HE/SHE MAY HAVE AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST WITH RESPECT TO THE POLICY, HE/SHE SHALL IMMEDIATELY AND FULLY DISCLOSE THE POTENTIAL CONFLICT TO THE PRESIDENT OF THE COLLEGE IN WRITING, AND SHALL REFRAIN FROM PARTICIPATING IN ANY TRANSACTIONS OR DECISIONS OF ANY ACTUAL OR POTENTIAL ETHICAL, LEGAL, FINANCIAL OR OTHER CONFLICTS OF INTEREST INVOLVING THE COLLEGE THAT MAY INVOLVE THE POTENTIAL OR ACTUAL CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT'S SALARY IS SET BY THE BOARD OF TRUSTEES, WHO TAKE INTO CONSIDERATION SALARY SURVEY DATA FROM THE ASSOCIATED COLLEGES OF THE MIDWEST. VICE-PRESIDENTIAL SALARIES ARE DETERMINED BY THE PRESIDENT AND THE HUMAN RESOURCES DIRECTOR UTILIZING SALARY DATA FROM THE ASSOCIATED COLLEGES OF THE MIDWEST AND COLLEGE AND UNIVERSITY PROFESSIONALS (CUPA) DATA. THE LAST REVIEW OF COMPENSATION WAS CONDUCTED IN 2015. OTHER STAFF AND FACULTY SALARIES ARE REVIEWED WHEN REPLACEMENTS ARE NECESSARY OR WHEN MARKET CONDITIONS INDICATE THAT A POSITION IS SIGNIFICANTLY UNDERPAID. PROPOSED SALARIES FOR NEW OR REPLACEMENT STAFF POSITIONS ARE COMPARED TO EXTERNAL MARKET DATA AND DISCUSSED BY THE SALARY REVIEW COMMITTEE (VICE PRESIDENT OF BUSINESS AFFAIRS, COMPENSATION AND BENEFITS COORDINATOR, AND EMPLOYEE RELATIONS COORDINATOR). MARKET DATA, IN CONJUNCTION WITH FINANCIAL CONSTRAINTS, YIELD A RECOMMENDATION FORWARDED TO THE PRESIDENT FOR REVIEW AND APPROVAL. IF SALARY INCREASES ARE GRANTED TO CONTINUING STAFF AND FACULTY, GENERALLY AN ACROSS-THE-BOARD INCREASE IS APPLIED TO SALARIES, WITH INDIVIDUAL ADJUSTMENTS MADE ONLY IF MARKET DATA SHOWS CONSIDERABLE VARIANCE. COMPENSATION INCREASES ARE INCLUDED AS PART OF THE PROPOSED BUDGET THAT IS APPROVED ANNUALLY BY THE BOARD OF TRUSTEES. THE LAST REVIEW OF COMPENSATION WAS CONDUCTED IN 2015. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: ACTUARIAL ADJUSTMENT -114,506. CHANGE IN SEVERANCE PLAN 1,249,973. CHARITABLE REMAINDER UNITRUSTS (7) INVESTMENTS IA CORNELL COLLEGE T 1 CHARITABLE REMAINDER ANNUITY TRUSTS (28) INVESTMENTS IA CORNELL COLLEGE T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0