2017-05-15T09:03:44-05:00 2016-06-30 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2015-07-01 381381271 HOPE COLLEGE HOPE 6163957810 141 E 12TH STREET HOLLAND MI 49423 THOMAS BYLSMA VICE PRESIDENT, CFO 6163957810 2017-05-09 1 VICKI L VANDENBERG CPA P00100422 2695674587 2017-05-04 2015 2021-01-29 14:40:06Z THOMAS BYLSMA 141 E 12TH STREET HOLLAND MI 49423 282719203 0 X WWW.HOPE.EDU X 1866 MI THE MISSION OF HOPE COLLEGE IS TO EDUCATE STUDENTS FOR LIVES OF LEADERSHIP AND SERVICE IN A GLOBAL SOCIETY THROUGH ACADEMIC AND CO-CURRICULAR PROGRAMS OF RECOGNIZED EXCELLENCE IN THE LIBERAL ARTS AND IN THE CONTEXT OF THE HISTORIC CHRISTIAN FAITH. 34 30 3561 30 834429 -267567 16512580 14548210 133024467 135368425 17821879 -1302225 1690880 1389245 169049806 150003655 34590794 34699611 0 0 60609620 65047207 0 0 5616066 48981897 50506011 144182311 150252829 24867495 -249174 482846633 464019780 94683782 91670101 388162851 372349679 THE MISSION OF HOPE COLLEGE IS TO EDUCATE STUDENTS FOR LIVES OF LEADERSHIP AND SERVICE IN A GLOBAL SOCIETY THROUGH ACADEMIC AND CO-CURRICULAR PROGRAMS OF RECOGNIZED EXCELLENCE IN THE LIBERAL ARTS AND IN THE CONTEXT OF THE HISTORIC CHRISTIAN FAITH. 0 0 132643395 33487029 128109774 THE ORGANIZATION PROVIDED COMPREHENSIVE LITERACY & SCIENCE COURSES OF STUDY TO APPROXIMATELY 3,300 FULL TIME EQUIVALENT STUDENTS IN THE FALL OF 2015 AND 3,100 IN THE SPRING OF 2016. THE ORGANIZATION WAS ALSO INVOLVED IN ADMINISTRATIVE, AUXILLARY OPERATIONS & STUDENT SERVICES TO SUPPORT THE CAMPUS. 4803085 1212582 4638920 THE ORGANIZATION IS INVOLVED IN RESEARCH TO MAINTAIN ONE OF THE TOP CHEMISTRY & BIOLOGY DEPTS IN THE COUNTRY, UTILIZE RESEARCH AS A TEACHING TOOL IN THE CLASSROOM & TO FACILITATE LEARNING. 137446480 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 0 1 0 1 0 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 350 0 1 3561 1 1 1 0 0 0 0 1 1 0 0 0 0 X 34 30 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MI X THOMAS BYLSMA VICE-PRESIDENT CFO 6163957810 HOPE COLLEGE 141 E 12TH ST HOLLAND MI 49423 MARY V BAUMAN CHAIRPERSON 1.00 X X 0 0 0 MARK VAN GENDEREN VICE CHAIRPERSON 1.00 X X 0 0 0 JOHN C KNAPP PRESIDENT 40.00 X X 326018 0 75176 DAVID W LOWRY SECRETARY 1.00 X X 0 0 0 JEFFREY S ALLEN TRUSTEE 1.00 X 0 0 0 WILLIAM R BOERSMA TRUSTEE 1.00 X 0 0 0 DAVID M BAST TRUSTEE 1.00 X 0 0 0 ANTHONY R CASTILLO TRUSTEE 1.00 X 0 0 0 DAVID B CHARNIN TRUSTEE 1.00 X 0 0 0 DOUGLAS CONANT TRUSTEE 1.00 X 0 0 0 ANNIE G DANDAVATI TRUSTEE/PROFESSOR 40.00 X 87524 0 22271 BARBARA DEPREE TRUSTEE 1.00 X 0 0 0 NANCY DIRKSE DEWITT TRUSTEE 1.00 X 0 0 0 J LINDSEY DOOD TRUSTEE 1.00 X 0 0 0 KARL DROPPERS TRUSTEE 1.00 X 0 0 0 KENNETH W ERIKS TRUSTEE 1.00 X 0 0 0 BRIAN GIBBS TRUSTEE 1.00 X 0 0 0 DANIEL GORDON TRUSTEE 1.00 X 0 0 0 LISA C GRANGER TRUSTEE 1.00 X 0 0 0 TAYLOR W HOLBROOK TRUSTEE 1.00 X 0 0 0 JAMES L JURRIES TRUSTEE 1.00 X 0 0 0 BRENT KRUEGER TRUSTEE/PROFESSOR 40.00 X 91555 0 24213 MONICA NEWENDORP TRUSTEE 1.00 X 0 0 0 GERALD J PILLAY TRUSTEE 1.00 X 0 0 0 DOUGLAS C RUCH TRUSTEE 5.00 X 4906 0 0 A PAUL SCHAAP TRUSTEE 1.00 X 0 0 0 SUZANNE L SHIER TRUSTEE 1.00 X 0 0 0 BETH A SNYDER TRUSTEE 1.00 X 0 0 0 DAVID L VAN ANDEL TRUSTEE 1.00 X 0 0 0 D SCOTT VAN OOSTENDORP TRUSTEE 1.00 X 0 0 0 JILL VER STEEG TRUSTEE 1.00 X 0 0 0 EMILIE D WIERDA TRUSTEE 1.00 X 0 0 0 LESLIE B WONG TRUSTEE 1.00 X 0 0 0 MARGARET MILLER-WILLIT TRUSTEE 1.00 X 0 0 0 THOMAS BYLSMA CFO 40.00 X 196721 0 42091 RICHARD RAY PROVOST 40.00 X 189840 0 32360 RICHARD A FROST VP OF STUDENT DEVELOPMENT 40.00 X 153362 0 59596 WILLIAM VANDERBILT VP FOR ADMISSIONS 40.00 X 172840 0 33224 RICHARD J PUCKETT VP FOR DEVELOPMENT 40.00 X 248452 0 32993 JENNIFER G FELLINGER VP OF PUBLIC AFFAIRS/MKTG 40.00 X 146340 0 22869 TODD P STEEN FACULTY 40.00 X 139629 0 25661 GREG MAYBURY DIRECTOR OF PHYSICAL PLANT 40.00 X 139523 0 31045 PETER SCHAKEL FACULTY 40.00 X 131707 0 19043 2028417 0 420542 46 0 1 0 CREATIVE DINING SERVICE ONE ROYAL PARK DRIVE SUITE 3 ZEELAND MI 49464 FOOD SERVICE MANAGEMENT 10436085 BLUE CROSS-BLUE SHIELD MICHIGAN 86 MONROE CENTER NW GRAND RAPIDS MI 49503 HEALTH INSURANCE ADMINISTRATION 8388274 GRANGER CONSTRUCTION 940 MONROE AVE NW SUITE 142 GRAND RAPIDS MI 49503 CONSTRUCTION SERVICES 5427300 GO CONSTRUCTION 300 IONIA AVE NW GRAND RAPIDS MI 49503 CONSTRUCTION SERVICES 3640985 STANTEC ARCHITECTURE INC 1500 SPRING GARDEN SUITE 1100 PHILADELPHIA PA 19130 ARCHITECTURE SERVICES 831819 72 3428934 11119276 838459 14548210 TUITION & FEES 611600 100042809 100042809 AUXILIARY ENTERPRISES 611600 27476779 27476779 BOOKSTORE INCOME 611600 2876553 2876553 HAWORTH CONFERENCE CTR. 721000 2128534 396333 1732201 OTHER PROGRAM INCOME 900099 1957653 1957653 886097 394900 491197 135368425 1251777 -53101 1304878 130161546 132715548 -2554002 -2554002 -2554002 OTHER REVENUE 900099 1389245 1389245 1389245 150003655 132748694 834429 1872322 33435690 33435690 1263921 1263921 1511697 1401881 54687 55129 49745333 44235831 2754776 2754726 3697073 3232498 231514 233061 6661209 5868772 392634 399803 3431895 3067779 177836 186280 106317 17282 89035 94850 400 94450 847771 847771 2699850 2186634 212836 300380 794330 489405 -63344 368269 4126062 3727396 124708 273958 1455415 1330516 47076 77823 4123170 3953675 84407 85088 4076346 3660544 90118 325684 704188 397322 304128 2738 1762064 1573523 159995 28546 8560577 7644595 777300 138682 517227 339089 173531 4607 FOOD SERVICE & LAUNDRY 9349432 9157660 56296 135476 TUITION WAIVERS 2770750 2469967 158203 142580 INVENTORY PURCHASES 2144293 1990701 76487 77105 OTHER MAINTENANCE & REP 1946093 1873699 36405 35989 4427276 4127700 309434 -9858 150252829 137446480 7190283 5616066 49434140 36220894 28374633 23482643 7737323 8368460 861256 761660 1885007 2453994 311391998 108949909 194970418 202442089 62210860 57737483 137068353 132270270 304643 282287 482846633 464019780 5661295 4495278 299767 246738 53255000 49320000 35467720 37608085 94683782 91670101 X 177733611 182162933 75387829 51073938 135041411 139112808 388162851 372349679 482846633 464019780 X -249174 -11898374 -3665624 X X 0 1 X 1 1 1 X 22428742 21795997 18350086 16512580 14548210 93635615 22428742 21795997 18350086 16512580 14548210 93635615 8984379 84651236 1590936 1561389 1663374 1958591 1297370 8071660 -130334 -28622 40247 -238783 -260059 -617551 1397109 1709060 1389245 4495414 105585138 633760094 0.80170 0.81200 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 402083 X X X 0 211786418 4224831 -13749987 8392778 193868484 206199053 5730924 7702829 7846388 211786418 175036306 9937514 28400349 7175116 206199053 163587087 4318541 13857992 6727314 175036306 166265929 4482293 -813518 6347617 163587087 0.16560 0.71600 0.11840 0 0 23817129 23817129 244635640 87407420 157228220 33221628 21542489 11679139 9717601 9717601 202442089 LIMITED PARTNERSHIPS AND HEDGE FUNDS 82271005 F MORTGAGES, LAND CONTRACTS & OTHER 21958792 F PRIVATE EQUITY, ALTERNATIVES, OTHER 28040473 F 132270270 ANNUITIES PAYABLE & TRUSTS 7368161 ACCUMULATED POST-RETIREMENT BENEFITS 10058877 REFUNDABLE FEDERAL PERKINS LOAN ADVANCES 5755239 STUDENTS AND OTHER DEPOSITS 2064245 ACCRUED LIABILITIES 5155416 INTERST RATE SWAP 7206147 37608085 98901322 -11898374 9047 -3665624 -15554951 114456273 847771 34699611 35547382 150003655 114714494 9047 9047 114705447 847771 34699611 35547382 150252829 PART III, LINE 4: HOPE COLLEGE, THROUGH THE CONSTRUCTION (2004-05) OF THE MARTHA MILLER CENTER FOR INTERNATIONAL COMMUNICATIONS, HAS PURCHASED $79,000 IN PIECES OF ART THAT ARE ON PERMANENT DISPLAY IN THIS BUILDING. IN FALL OF 2015, HOPE COLLEGE OPENED THE KRUIZENGA ART MUSEUM. STRATEGIC PIECES OF ART WERE PURCHASED TO PUT ON DISPLAY IN THE ART GALLERY WHICH WILL ASSIST THE COLLEGE'S ART, HISTORY, AND CULTURAL HERITAGE CURRICULUM. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGES IN VALUE OF SPLIT INTEREST AGREEMENT -519,331. CHANGE IN VALUE OF SWAP AGREEMENTS -2,442,340. CHANGE IN POST RETIREMENT -703,953. PART XI, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL SCHOLARSHIPS & FELLOWSHIPS 34,699,611. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL SCHOLARSHIPS & FELLOWSHIPS 34,699,611. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 RACIALLY NONDISCRIMINATORY POLICY STATEMENT IS INCLUDED ON VARIOUS PUBLICITY & POLICY STATEMENTS, INCLUDING OUR WEBSITE & TELEVISION ADS, AS WELL AS OUR CATALOG & STUDENT HANDBOOK, WHICH IS AVAILABLE UPON REQUEST. SCHEDULE E, PART I, LINE 6 HOPE COLLEGE RECEIVES GRANTS AND FINANCIAL AID FROM VARIOUS FEDERAL AND STATE AGENCIES THAT ARE USED IN THE FURTHERANCE OF THE COLLEGE'S EXEMPT PURPOSE OF PROVIDING QUALITY EDUCATION. 0 EAST ASIA & PACIFIC 0 0 PROGRAM SERVICES STUDENT RECRUITMENT/SUMMER TERM COURSES 11492 EUROPE 0 0 PROGRAM SERVICES SUMMER TERM COURSES 494570 EUROPE 0 0 PROGRAM SERVICES RESEARCH 5561 NORTH AMERICA 0 0 PROGRAM SERVICES RESEARCH 6135 NORTH AMERICA 0 0 PROGRAM SERVICES SUMMER TERM COURSES 2207 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDENT IMMERSION TRIP 7000 SOUTH ASIA 0 0 PROGRAM SERVICES RESEARCH 1805 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES RESEARCH 4108 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES STUDENT IMMERSION TRIP 10636 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES SUMMER TERM COURSES 64135 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 DIRECT FOREIGN INVESTMENT N/A 286555 0 0 0 0 0 0 532878 361326 894204 SCHOLARSHIP - TUITION/BOOKS CENTRAL AMERICA AND THE CARIBBEAN 7 144610 SCHOLARSHIPS N/A SCHOLARSHIP - TUITION/BOOKS EAST ASIA AND THE PACIFIC 46 544047 SCHOLARSHIPS N/A SCHOLARSHIP - TUITION/BOOKS EUROPE (INCLUDING ICELAND & GREENLAND) 8 195650 SCHOLARSHIPS N/A SCHOLARSHIP - TUITION/BOOKS MIDDLE EAST AND NORTH AFRICA 2 81887 SCHOLARSHIPS N/A SCHOLARSHIP - TUITION/BOOKS NORTH AMERICA 1 30370 SCHOLARSHIPS N/A SCHOLARSHIP - TUITION/BOOKS SOUTH ASIA 1 13000 SCHOLARSHIPS N/A SCHOLARSHIP - TUITION/BOOKS SUB-SAHARAN AFRICA 13 254357 SCHOLARSHIPS N/A 1 0 1 0 1 0 1 SCHOLARSHIP - TUITION/BOOKS 2811 33435690 N/A SCHOLARSHIPS PART I, LINE 2: HOPE SCHOLARSHIP/GRANT FUNDS ARE DISBURSED TO THE RECIPIENT UPON PROOF OF ELIGILIBITY (I.E. FINANCIAL NEED OR ACADEMIC MERIT) AND UPON PROOF OF EXPENSE INCURRED. X X 0 0 X X X X 0 0 0 0 0 0 0 0 0 JOHN C KNAPP PRESIDENT 314382 0 0 0 11636 0 27825 0 47351 0 401194 0 0 0 THOMAS BYLSMA CFO 189889 0 0 0 6832 0 19929 0 22162 0 238812 0 0 0 RICHARD RAY PROVOST 186000 0 0 0 3840 0 19530 0 12830 0 222200 0 0 0 RICHARD A FROST VP OF STUDENT DEVELOPMENT 149522 0 0 0 3840 0 15094 0 44502 0 212958 0 0 0 WILLIAM VANDERBILT VP FOR ADMISSIONS 169000 0 0 0 3840 0 17745 0 15479 0 206064 0 0 0 RICHARD J PUCKETT VP FOR DEVELOPMENT 244612 0 0 0 3840 0 2018 0 30975 0 281445 0 0 0 JENNIFER G FELLINGER VP OF PUBLIC AFFAIRS/MKTG 142500 0 0 0 3840 0 7613 0 15256 0 169209 0 0 0 TODD P STEEN FACULTY 139629 0 0 0 0 0 14084 0 11577 0 165290 0 0 0 GREG MAYBURY DIRECTOR OF PHYSICAL PLANT 139523 0 0 0 0 0 14650 0 16395 0 170568 0 0 0 PETER SCHAKEL FACULTY 131707 0 0 0 0 0 13829 0 5214 0 150750 0 0 0 PART I, LINE 1A THE PRESIDENT IS REQUIRED TO LIVE ON CAMPUS AS PART OF HIS EMPLOYMENT WITH THE COLLEGE. INCLUDED IN NONTAXABLE BENEFITS IS THE FAIR MARKET VALUE OF THE USAGE OF THE PRESIDENT'S HOME WHICH IS VALUED AT $28,185. THE COLLEGE PROVIDES ANNUAL MEMBERSHIPS TO A LOCAL MARINA AND GOLF CLUB AS A WAY TO PROMOTE THE COLLEGE. THE VALUES OF THESE MEMBERSHIPS ARE $10,255 AND $9,427 REPSECTIVELY AND ARE SPLIT BETWEEN TAXABLE INCOME AND OTHER NON-TAXABLE INCOME ($9,043/$1,212) AND ($2,992/$6,435). A MICHIGAN FINANCE AUTHORITY 800595186 NONEAVAIL 2010-12-17 10200000 SEE PART VI 0 0 0 B THE ECONOMIC DEVELOPMENT CORPORATION OF THE COUNTY OF OTTAWA 386004883 NONEAVAIL 2011-12-14 10000000 SEE PART VI 0 0 0 C MICHIGAN FINANCE AUTHORITY 800595186 NONEAVAIL 2012-03-28 11220000 SEE PART VI 0 0 0 D MICHIGAN FINANCE AUTHORITY 800595186 NONEAVAIL 2013-08-08 16255000 SEE PART VI 0 0 0 A 5240000 10200000 10200000 1 0 1 1 B 3895000 10000000 1040 9998960 0 1 1 1 C 40000 11220000 5000000 6220000 2014 1 0 1 1 D 1920000 16255000 16255000 1 0 1 1 C 0 0 1 1 0 0 0 0 A 0 0 1 0 1 0 0 0 0 B 0 1 1 0 1 0 0 0 0 C 0 1 0 0 1 0 0 0 0 D 0 1 1 0 1 0 0 0 0 A 0 B 0 C 0 D 0 PART I, ROW A(1), COLUMN F: THE PURPOSE OF THE BONDS ISSUED ON DECEMBER 17, 2010 IS TO CURRENTLY REFUND THE MICHIGAN HIGHER EDUCATION FACILITIES AUTHORITY ("MHEFA") LIMITED OBLIGATION REVENUE REFUNDING BONDS (HOPE COLLEGE PROJECT), SERIES 1999, DATED MARCH 24, 1999. PART I, ROW B(1), COLUMN F: THE PURPOSE OF THE BONDS ISSUED ON DECEMBER 14, 2011 IS TO ADVANCE REFUND A PORTION OF THE MHEFA LIMITED OBLIGATION REVENUE BONDS (HOPE COLLEGE PROJECT), SERIES 2002A, DATED MAY 7, 2002 (THE "SERIES 2002A BONDS"). PART I, ROW C(1), COLUMN F: THE PURPOSE OF THE BONDS ISSUED ON MARCH 28, 2012 IS (A) TO CURRENTLY REFUND A PORTION OF THE SERIES 2002A BONDS, AND (B) TO PAY THE COSTS OF THE ACQUISITION, CONSTRUCTION, FURNISHING AND EQUIPPING OF STUDENT HOUSING FACILITIES AND THE RENOVATION, REFURNISHING AND RE-EQUIPPING OF DINING FACILITIES AT PHELPS HALL AND RELATED PARKING AND SITE IMPROVEMENTS. PART I, ROW D(1), COLUMN F: THE PURPOSE OF THE BONDS ISSUED ON AUGUST 8, 2013 IS TO CURRENTLY REFUND THE MHEFA VARIABLE RATE DEMAND LIMITED OBLIGATION REVENUE BONDS (HOPE COLLEGE PROJECT), SERIES 2002B, DATED MAY 7, 2002. PART I, ROW A(2), COLUMN F: THE PURPOSE OF THE BONDS ISSUED ON MAY 28, 2015 (THE "SERIES 2015 BONDS") IS TO CURRENTLY REFUND THE MICHIGAN HIGHER EDUCATION FACILITIES AUTHORITY ("MHEFA") VARIABLE RATE DEMAND LIMITED OBLIGATION REVENUE AND REVENUE REFUNDING BONDS (HOPE COLLEGE PROJECT), SERIES 2004, DATED JULY 28, 2004 (THE "SERIES 2004 BONDS"). THE SERIES 2004 BONDS WERE ISSUED (A) TO CURRENTLY REFUND (I) A PORTION OF THE MHEFA LIMITED OBLIGATION REVENUE AND REVENUE REFUNDING BONDS, SERIES 1994 (HOPE COLLEGE PROJECT), DATED JUNE 16,1994 (THE "SERIES 1994 BONDS"), AND (II) THE MHEFA LIMITED OBLIGATION REVENUE BONDS (HOPE COLLEGE PROJECT), SERIES 1996B, DATED JUNE 4, 1996 (THE "SERIES 1996 BONDS"), (B) TO PAY THE COST OF CONSTRUCTING, EQUIPPING, AND FURNISHING THE DEVOS FIELD HOUSE AND THE MARTHA MILLER CENTER FOR GLOBAL COMMUNICATIONS, AND RENOVATING GRAVES HALL, LUBBER HALL AND THE DOW CENTER, (C) TO PAY CAPITALIZED INTEREST ON THE NEW MONEY PORTION OF THE BONDS, AND (D) TO PAY THE COSTS OF ISSUING AND SECURING THE BONDS. PART III(1), LINE 3A(C): THERE IS A FOOD SERVICE CONTRACT THAT QUALIFIES FOR THE SAFE HARBOR UNDER REV. PROC. 97-13. PART III(2), LINE 3A(A): THERE IS A FOOD SERVICE CONTRACT THAT QUALIFIES FOR THE SAFE HARBOR UNDER REV. PROC. 97-13. PART III(1): PART III IS NOT COMPLETED FOR COLUMN A, COLUMN B, THE PORTION OF THE COLUMN C THAT IS ALLOCATED TO REFUNDING THE SERIES 2002A BONDS AND COLUMN D, ALL OF WHICH RELATE TO BONDS WHICH WERE ISSUED BEFORE 2003 OR REFUNDED BONDS ISSUED BEFORE 2003. PART III(2): PART III IS NOT COMPLETED FOR THE PORTION OF COLUMN A WHICH IS ALLOCATED TO THE PORTION OF THE SERIES 2015 BONDS WHICH REFUNDED THE PORTION OF THE SERIES 2004 BONDS WHICH REFUNDED THE SERIES 1994 BONDS AND THE SERIES 1996 BONDS, BOTH OF WHICH WERE ISSUED PRIOR TO 2003. PART IV(1), LINE 2B(C): IT HAS NOT YET BEEN DETERMINED WHETHER THE BONDS ISSUED ON MARCH 28, 2012 WILL QUALIFY FOR AN EXCEPTION TO REBATE. A MICHIGAN FINANCE AUTHORITY 800595186 NONEAVAIL 2015-05-28 13940000 SEE PART VI 0 0 0 A 1200000 13940000 13940000 1 0 1 1 A 0 0 1 1 0 0 0 0 A 0 1 1 0 1 0 0 0 0 A 0 EMILIE D WIERDA SEE PART V 321469 SEE PART V 0 RICHARD A FROST SEE PART V 10436085 SEE PART V 0 SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (A) NAME OF PERSON: EMILIE D. WIERDA(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: EMILIE D. WIERDA IS A BOARD MEMBER OF HOPE COLLEGE(C) AMOUNT OF TRANSACTION $321,469(D) DESCRIPTION OF TRANSACTION: EMILIE D. WIERDA IS A BOARD MEMBER OF HOPE COLLEGE AND IS THE DAUGHTER OF ELSA PRINCE BROEKHUIZEN WHO IS THE MAJORITY OWNER OF LUMIR CORPORATION FROM WHOM THE COLLEGE RENTS STUDENT HOUSING.(E) SHARING OF ORGANIZATION REVENUES? = NO(A) NAME OF PERSON: RICHARD A. FROST(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: RICHARD A. FROST IS A KEY EMPLOYEE OF HOPE COLLEGE(C) AMOUNT OF TRANSACTION $10,436,085(D) DESCRIPTION OF TRANSACTION: RICHARD A. FROST IS A KEY EMPLOYEE OF HOPE COLLEGE AND IS THE CHAIRPERSON OF CREATIVE DINING SERVICES. FINANCIAL ARRANGEMENT IS COMPETITIVELY PRICED. (E) SHARING OF ORGANIZATION REVENUES? = NO X 13 157000 FMV X 18265 FMV X 87 1227596 NYSE - FMV X 2 160000 FMV X DRYWALL AND FLOORING 1 50000 FMV X PIANOS 2 20000 FMV X OTHER 6 6609 FMV X WATERFOWL COLLECTION 1 3060 FMV 0 1 1 PART I, LINE 32B: THE ORGANIZATION USES A STOCK BROKER TO SELL SECURITIES SHORTLY AFTER RECEIPT. FORM 990, PART VI, SECTION B, LINE 11 MEMBERS OF THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES ARE PROVIDED WITH A REASONABLE OPPORTUNITY TO REVIEW AND COMMENT TO EXECUTIVE LEADERSHIP ON THE FORM 990 OF HOPE COLLEGE BEFORE IT IS FILED WITH THE INTERNAL REVENUE SERVICE. FURTHER, THE EXECUTIVE LEADERSHIP OF HOPE COLLEGE PROVIDES THE MINUTES OF THE AUDIT COMMITTEE FORM 990 REVIEW TO THE BOARD OF TRUSTEES SHOWING AN OVERVIEW OF THE HIGHLIGHTS AT THE NEXT REGULARLY SCHEDULED BOARD MEETING FOLLOWING THE FILING OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE BOARD OF TRUSTEES PREPARE AND SIGN CONFLICT STATEMENTS ANNUALLY. THESE STATEMENTS ARE REVIEWED AND PROVIDED TO TRUSTEE MEMBERS AT THE OCTOBER BOARD OF TRUSTEE MEETING TO ENSURE COMPLIANCE WITH THE CONFLICT POLICY. MEMBERS OF THE COMMITTEE WITH A PERSONAL INVOLVEMENT IN A PARTICULAR DECISION WILL EXCUSE THEMSELVES FROM DISCUSSION LEADING TO A DECISION AND FROM THE DECISION ITSELF, AND THIS DISCLOSURE AND ABSENCE WILL BE NOTED IN THE MINUTES OF THE MEETING. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES (BOT) APPROVES A RECOMMENDED COMPENSATION INCREASE BROUGHT TO THE BOT FROM THE CFO. THE COMPENSATION INCREASE IS HIGHLY CORRELATED TO THE TUITION INCREASE APPROVED FOR THE FOLLOWING ACADEMIC YEAR. THE RATES RECOMMENDED ARE DETERMINED BY LOOKING AT THE FOLLOWING FACTORS: COST OF LIVING (CPI), CUPA (COLLEGE AND UNIVERSITY PERSONNEL ASSOCIATION) SURVEYS, AND THE LAKESHORE HUMAN RESOURCES MANAGEMENT ASSOCIATION SURVEYS - WHICH IS A CHAPTER OF THE SOCIETY OF HUMAN RESOURCES MANAGEMENT (SHRM). SINCE WE ARE NOT A UNION" SCHOOL WE DO NOT HAVE DELIBERATION BUT IF DISCUSSION DOES OCCUR DURING THE BOT APPROVAL PROCESS, IT WOULD BE DOCUMENTED IN THE BOT MINUTES FOR THAT SPECIFIC MEETING. THE CEO'S (PRESIDENT'S) COMPENSATION IS BASED UPON A RECOMMENDATION FROM THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES AND IS THEN APPROVED BY THE FULL BOARD OF TRUSTEES. COMPARISON DATA IS USED ALONG WITH EVALUATION OF PERFORMANCE IN THEIR DECISION. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION MAKES FORM 990 AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN SPLIT VALUE INTEREST AGREEMENTS -519,331. CHANGE IN POST RETIREMENT -703,953. CHANGE IN VALUE OF SWAP AGREEMENTS -2,442,340. FORM 990, PART XII, LINE 2C: THE OVERSIGHT PROCESS FOR THE AUDIT HAS NOT CHANGED SINCE LAST YEAR.