2017-04-18T00:00:00-05:00 2016-05-31 251408703 SCHNEIDER DOWNS & CO INC 65 E STATE ST STE 2000 COLUMBUS OH 43215 990 2015-06-01 340714626 ASHLAND UNIVERSITY ASHL 4192895011 401 COLLEGE AVENUE ASHLAND OH 44805 STEPHEN R STORCK PHD VICE PRESIDENT & CFO 4192895011 2017-04-12 1 EUGENE J LOGAN P00227231 6146214060 2015 2021-01-29 14:40:06Z STEPHEN R STORCK PHD 401 COLLEGE AVENUE ASHLAND OH 44805 194037932 0 X WWW.ASHLAND.EDU X 1888 OH INSTITUTION OF HIGHER EDUCATION 38 37 2658 38 811330 8610 6179810 9462173 97216059 98847402 2858972 676654 779228 655353 107034069 109641582 17001874 19528642 0 0 53991258 53304742 0 362925 2399099 34044079 33031342 105037211 106227651 1996858 3413931 218579779 229141437 85876093 98503452 132703686 130637985 ASHLAND UNIVERSITY, GUIDED BY OUR CHRISTIAN HERITAGE, IS A COMPREHENSIVE, PRIVATE UNIVERSITY THAT PROVIDES A TRANSFORMATIVE LEARNING EXPERIENCE, SHAPING GRADUATES WHO WORK, SERVE AND LEAD WITH INTEGRITY IN THEIR LOCAL, NATIONAL, AND GLOBAL COMMUNITIES. 0 0 20332938 19528642 78887280 ASHLAND UNIVERSITY OFFERS MORE THAN 70 DIFFERENT ACADEMIC PROGRAMS AT THE BACHELOR'S, MASTER'S, AND DOCTORATE LEVELS. THE ACADEMIC PROGRAMS ARE DIVERSE AND RICH IN OPPORTUNITIES FOR OUR STUDENTS. THE INTEGRATION OF THE LIBERAL ARTS AND CAREER DEVELOPMENT IS A MAJOR STRENGTH OF ASHLAND UNIVERSITY. THE UNIVERSITY CONSISTS OF THE COLLEGE OF ARTS AND SCIENCES, COLLEGE OF BUSINESS AND ECONOMICS, COLLEGE OF EDUCATION, COLLEGE OF NURSING AND HEALTH SCIENCES, FOUNDERS COLLEGE, AND COLLEGE OF ONLINE AND ADULT STUDIES. THE ACADEMIC AFFAIRS DIVISION ALSO OVERSEES LIBRARY SERVICES, GLOBAL EDUCATION, AND ACADEMIC SUPPORT INCLUDING ADVISING AND TUTORING SERVICES. 77139017 19960122 THE UNIVERSITY'S AUXILIARIES ENTERPRISES OPERATIONS EXIST PRIMARILY TO FURNISH GOODS AND SERVICES TO STUDENTS, FACULTY AND STAFF. MANAGED AS ESSENTIALLY SELF-SUPPORTING ACTIVITIES, THE UNIVERSITY'S AUXILIARY ACTIVITIES CONSIST PRIMARILY OF HOUSING SERVICES, DINING SERVICES, CAMPUS STORES, COPY SERVICES, AND LAUNDRY SERVICES. 97471955 1 1 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 0 1 0 1 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 0 1 0 0 1 1 0 0 0 0 1 0 0 0 1 359 0 1 2658 1 1 1 1 CJ 0 0 0 1 1 0 0 0 0 0 0 X 38 37 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 OH X STEPHEN R STORCK PHD 4192895011 401 COLLEGE AVENUE ASHLAND OH 44805 RONALD B ALFORD TRUSTEE 1.00 0.00 X 0 0 0 THOMAS A AURANDT TRUSTEE 1.00 0.00 X 0 0 0 CHRISTOPHER D BOYD TRUSTEE 1.00 0.00 X 0 0 0 DAVID M BUSH TRUSTEE 1.00 0.00 X 0 0 0 MARK E CAMP TRUSTEE 1.00 0.00 X 0 0 0 DANIEL COFFEE TRUSTEE 1.00 0.00 X 0 0 0 BRENDA K DEAN TRUSTEE 1.00 0.00 X 0 0 0 KEVIN L DOSS TRUSTEE 1.00 0.00 X 0 0 0 D REX ELSASS TRUSTEE 1.00 0.00 X 0 0 0 CHARLES H GAMBLE JR TRUSTEE 1.00 0.00 X 0 0 0 WAYNE R GIRBACH TRUSTEE 1.00 0.00 X 0 0 0 DR ARDEN E GILMER TRUSTEE 1.00 0.00 X 0 0 0 PATRICIA M GRAVATT TRUSTEE 1.00 0.00 X 0 0 0 JONATHON L GROZA TRUSTEE 1.00 0.00 X 0 0 0 JAMES H HESS TRUSTEE 1.00 0.00 X 0 0 0 BROOKS HULL TRUSTEE 1.00 0.00 X 0 0 0 DR G EMERY HURD TRUSTEE 1.00 0.00 X 0 0 0 DEBORAH L KARL TRUSTEE 1.00 0.00 X 0 0 0 DAVID B KRILL TRUSTEE 1.00 0.00 X 0 0 0 BILLIE A MASSIE TRUSTEE 1.00 0.00 X 0 0 0 LISA O MILLER TRUSTEE 1.00 0.00 X 0 0 0 PAUL E MCKNIGHT TRUSTEE 1.00 0.00 X 0 0 0 JOHN D MOORE TRUSTEE 1.00 0.00 X 0 0 0 P THOMAS MURRAY JR TRUSTEE 1.00 0.00 X 0 0 0 DUSTIN J NESS TRUSTEE 1.00 0.00 X 0 0 0 VAUGHN L NICKELL TRUSTEE 1.00 1.00 X 0 0 0 JEFF PAYTON TRUSTEE 1.00 0.00 X 0 0 0 ALAN D ROTH TRUSTEE 1.00 0.00 X 0 0 0 TIMOTHY L SOLOMON TRUSTEE 1.00 0.00 X 0 0 0 DR DALE R THOMAE TRUSTEE 1.00 0.00 X 0 0 0 ROBERT G WARD II TRUSTEE 1.00 0.00 X 0 0 0 THOMAS WHATMAN TRUSTEE 1.00 0.00 X 0 0 0 CHARLES A WILTROUT TRUSTEE 1.00 0.00 X 0 0 0 MITCHELL P ZUNICH TRUSTEE 1.00 0.00 X 0 0 0 JOYCE A LAMB CHAIR 1.00 0.00 X X 0 0 0 FRED B BROAD VICE CHAIR 1.00 0.00 X X 0 0 0 GARY L COURTRIGHT SECRETARY 1.00 0.00 X X 0 0 0 THOMAS H PICKERING ASSISTANT SECRETARY 1.00 0.00 X X 0 0 0 CARLOS CAMPO ENTERED 062015 PRESIDENT 40.00 0.00 X 204354 0 14343 WILLIAM CROTHERS INTERIM PRESIDENT (EXITED 06/2015) 40.00 0.00 X 144382 0 2442 SCOTT VAN LOO EXECUTIVE VICE PRESIDENT 40.00 0.00 X 154799 0 25654 FREDERICK J FINKS CHANCELLOR (EXITED 06/2016) 40.00 0.00 X 349959 0 32446 DOUGLAS FIORE EXITED 012016 INTERIM PROVOST 40.00 0.00 X 166527 0 19788 FRANK PETTIGREW JR PROVOST (EXITED 05/2016) 40.00 0.00 X 59760 0 7301 EUN-WOO CHANG ENTERED 042016 PROVOST 40.00 0.00 X 0 0 0 JOHN C SHULTZ PRESIDENT OF SEMINARY 40.00 2.00 X 169725 0 103420 PATRICK EWING VP OF FACILITIES MGMT 40.00 0.00 X 98710 0 66485 STEPHEN R STORCK VP FINANCE & ADMINISTRATION 40.00 0.00 X 165550 0 21615 MARGARET A POMFRET VP OF DEVELOPMENT 40.00 0.00 X 149096 0 17682 HANNAH CLAYBOURNE VP OF STUDENT AFFAIRS (ENT 08/2015) 40.00 0.00 X 46055 0 4365 MICHAEL HOLLENBAUGH ENT 0316 VP FOR ENROLLMENT MANANGEMENT 40.00 0.00 X 70011 0 1897 ROGER BECKETT DIRECTOR ASHBROOK CENTER 40.00 0.00 X 199698 0 44170 VICTORIA HUGHES DIR. OF DEVELOPMENT ASHBROOK CENTER 40.00 0.00 X 174849 0 13108 DAWN WEBER DEAN OF ARTS & SCIENCES 40.00 0.00 X 138102 0 12762 JEFFERY RUSSELL DEAN OF BUSINESS 40.00 0.00 X 138886 0 22265 DANIEL FOX ASSOCIATE PROFESSOR OF BUSINESS 40.00 0.00 X 135009 0 24528 STEVEN POOL PROFESSOR 40.00 0.00 X 135296 0 14517 FAYE GRUND DEAN, COLLEGE OF NURSING 40.00 0.00 X 139754 0 4924 2840522 0 453712 15 0 1 0 BAREFOOT FLOORS 1250 E MAIN STREET ASHLAND OH 44805 CONSTRUCTION 525753 SIMONSON CONSTRUCTION SERVICES 2112 TROY ROAD ASHLAND OH 44805 CONSTRUCTION 459079 GUENTHER MECHANICAL INC 1248 MIDDLE ROWSBURG ROAD ASHLAND OH 44805 CONSTRUCTION 417627 OTIS ELEVATOR COMPANY 1450 FIRESTONE PKWY STE A AKRON OH 44301 ELEVATOR MAINTENANCE 372530 BCU ELECTRIC INC 1019 US RTE 250N ASHLAND OH 44805 CONSTRUCTION 331308 18 148473 230255 468804 8614641 4047714 9462173 TUITION & FEES 611710 78887280 78887280 AUXILIARY ENTERPRISES 611710 19960122 19960122 98847402 1147373 -22525 1169898 79304640 79775359 -470719 -470719 -470719 26978 148473 143741 -116763 -116763 5249366 4477250 772116 833855 -61739 109641582 98847402 811330 520677 19528642 19528642 2395437 519321 1302438 573678 42116022 39613100 2118718 384204 846732 796397 44378 5957 4679953 4104718 436905 138330 3266598 2744443 453872 68283 56684 56684 56372 56372 362925 362925 121622 121622 4059612 3669553 198652 191407 1797769 1690860 11067 95842 1699500 1341599 269919 87982 721911 623528 53809 44574 5623103 5144206 474192 4705 1856359 1675323 42629 138407 138043 109880 12272 15891 3920098 3920098 4485118 4485118 1215210 713168 502042 BAD DEBT/COLLECTION 3182023 3182023 MISCELLANEOUS 977490 863553 4868 109069 HOSPITALITY 940250 722188 70084 147978 INSTRUCTIONAL COST 574688 573638 1050 1605490 1450599 125024 29867 106227651 97471955 6356597 2399099 8280 8480 2590452 16263518 13522171 9569126 11073296 9073053 2388609 796750 857056 520762 459880 242163521 99092205 143125843 143071316 44312451 46425166 2759933 517059 378015 218579779 229141437 10564774 12018618 6842005 7647662 37148630 66035523 21104302 4816097 10216382 7985552 85876093 98503452 X 81125437 84163907 13502730 9749586 38075519 36724492 132703686 130637985 218579779 229141437 X 3413931 -1635031 -4488492 643891 X X 0 1 X 1 1 1 X 8440346 11176596 9575816 6179810 10374050 45746618 8440346 11176596 9575816 6179810 10374050 45746618 6883581 38863037 801406 969450 921483 1335794 1169898 5198031 148947 220217 250127 77260 178310 874861 51819510 559841817 0.75000 0.82180 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 5 257.86 0 0 0 1 0 0.00 0 1 201035 X X 0 37731822 1108986 -1278189 732703 67239 36762677 39086241 521346 -1301315 574450 37731822 36042412 1752197 2771732 1480100 39086241 31162368 2269247 2997370 1072143 4053 35352789 33742546 31273 -1587425 909839 31276555 0.00000 0.93640 0.06360 0 0 17694682 17694682 176485303 62188453 114296850 33913196 30547912 3365284 14070340 6355840 7714500 143071316 CAPITAL LEASE OBLIGATIONS 3179278 ACCRUED CHARITABLE GIFT ANNUITY 3076885 ADVANCES FROM FEDERAL GOVERNMENT 1729389 7985552 X 93908717 -1635031 5264882 3629851 90278866 227873 19134843 19362716 109641582 91485926 4620991 4620991 86864935 227873 19134843 19362716 106227651 PART II, LINE 9: CONSERVATION EASEMENTS ARE RECORDED ON THE STATEMENT OF FINANCIAL POSITION AT COST IF PURCHASED AND AT FAIR VALUE AS OF THE DATE OF CONTRIBUTION IF RECEIVED BY DONATION. MAJOR IMPROVEMENTS ARE CAPITALIZED AT COST. FOR THE STATEMENT OF ACTIVITIES, NO REVENUES HAVE BEEN GENERATED BY CONSERVATION EASEMENTS AND, THEREFORE, NONE RECORDED. EXPENSES FOR UPKEEP AND DEPRECIATION, IF APPLICABLE, ARE CHARGED TO UNRESTRICTED EXPENSE WHEN INCURRED. PART III, LINE 4: VARIOUS PAINTINGS AND SCULPTURES ARE HELD TO STIMULATE ARTISTIC APPRECIATION. PART V, LINE 4: THE UNIVERSITY'S ENDOWMENT CONSISTS OF APPROXIMATELY 700 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. SPECIFICALLY, THESE PURPOSES INCLUDE SCHOLARSHIPS TO STUDENTS TO ATTEND THE UNIVERSITY AS WELL AS SUPPORTING THE PROGRAMS AND ACTIVITIES OF THE UNIVERSITY. PART X, LINE 2: THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. HOWEVER, TO THE EXTENT THAT CERTAIN AUXILIARY REVENUES EXCEED RELATED EXPENSES, THEY ARE CONSIDERED TO BE UNRELATED BUSINESS INCOME AND SUBJECT TO INCOME TAX. THE UNIVERSITY FOLLOWS THE CODIFICATION TOPIC ON INCOME TAXES. THE TOPIC PRESCRIBES A MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT METHODOLOGY THAT A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN FINANCIAL STATEMENTS. THE UNIVERSITY'S STATEMENT OF FINANCIAL POSITION AT MAY 31, 2016 DOES NOT INCLUDE ANY LIABILITIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS; FURTHER, THE UNIVERSITY HAS NO UNRECOGNIZED TAX BENEFITS. THE UNIVERSITY IS NO LONGER SUBJECT TO EXAMINATION OF ITS TAX RETURNS FOR YEARS BEFORE 2013. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 4,477,250. SPECIAL EVENT EXPENSE 143,741. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 756,168. LOSS ON REFINANCING OF BONDS PAYABLE -112,277. PART XI, LINE 4B - OTHER ADJUSTMENTS: TUITION DISCOUNTS 19,104,517. SPLIT INTEREST EXPENSES 30,326. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 4,477,250. SPECIAL EVENT EXPENSE 143,741. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION DISCOUNTS 19,104,517. SPLIT INTEREST EXPENSES 30,326. PART V, LINE 1A, ENDOWMENT BEGINNING YEAR BALANCE: LINE 1A REFLECTS A PRIOR PERIOD ADJUSTMENT OF $3,423,712. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE ORGANIZATION PUBLICIZES ITS NONDISCRIMINATORY POLICY THROUGH VARIOUS MEDIA OUTLETS AND PROMOTIONAL MATERIALS IN ORDER TO ENSURE THAT ITS POLICY IS MADE KNOWN TO THE COMMUNITY. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES FEDERAL FUNDING FROM THE FEDERAL GOVERNMENT FOR FEDERAL WORK-STUDY AND FEDERAL SUPPLEMENTAL EDUCATIONAL OPPROTUNITY GRANTS. THE UNIVERSITY ALSO PARTICIPATES IN THE PERKINS LOAN PROGRAM, PARTICALLY FUNDED BY THE FEDERAL GOVERNMENT. IN ADDITION, STUDENTS MAY RECEIVE VETERAN BENEFITS, GRANTS OR LOANS THROUGH FEDERAL PELL GRANT AND FEDERAL DIRECT LOAN PROGRAMS OR THROUGH SIMILAR STATE PROGRAMS. EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES RECRUITING OF STUDENTS 198000 SOUTH ASIA 0 0 PROGRAM SERVICES RECRUITING OF STUDENTS 2250 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 11561 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 3468876 0 0 0 0 0 0 3680687 0 3680687 1 0 0 1 1 0 X X 1 CLEARWORD COMMUNICATIONS GROUP 10302 BRISTOW CENTER DR BRISTOW VA 20136 HIGH-DOLLAR DIRECT MAIL FUNDRAISING 0 349981 54316 295665 AC FITZGERALD & ASSOCIATES PO BOX 321012 ALEXANDRIA VA 22320 DIRECT MAIL CONSULTING 0 0 48347 0 JOHNSON GROSSNICKLE & ASSOCIATES INC 29 S PARK BLVD GREENWOOD IN 46143 FEASIBILITY STUDY FOR COMPREHENSIVE CAMPAIGN 0 0 23749 0 349981 126412 295665 AL AK AZ AR CA CO CT DC FL GA HI KS KY LA ME MD MA MI MN MS NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI ASHBROOK MEMORIAL 153175 138785 14390 52037 90342 SILENT AUCTION 22276 9688 12588 1362 175451 148473 26978 53399 90342 143741 -116763 1 TUITION WAVER, SCHOLARSHIPS, FINANCIAL AID AND GRANTS 2443 19528642 0 N/A TUITION WAIVER/EXCHANGE, ASHLAND UNIVERSITY FUNDED AND DONOR FUNDED SCHOLARSHIPS. PART I, LINE 2: THE MAJORITY OF GRANTS AND ASSISTANCE PROVIDED BY THE UNIVERSITY IS IN THE FORM OF SCHOLARSHIPS AND FINANCIAL AID TO OFFSET THE COST OF TUITION, ROOM AND BOARD FOR ITS STUDENTS. THESE FUNDS ARE AWARDED THROUGH THE UNIVERSITY'S FINANCIAL AID OFFICE BASED ON A COMBINATION OF MERIT AND NEED. THEY ARE DISBURSED DIRECTLY TO THE STUDENT'S BILING ACCOUNT BY THE OFFICE OF STUDENT ACCOUNTS. X X X X X 1 1 X X X 1 1 0 0 0 0 0 0 0 CARLOS CAMPO ENTERED 062015 PRESIDENT 196169 0 0 0 8185 0 1983 0 12360 0 218697 0 0 0 SCOTT VAN LOO EXECUTIVE VICE PRESIDENT 154654 0 0 0 145 0 4771 0 20883 0 180453 0 0 0 FREDERICK J FINKS CHANCELLOR (EXITED 06/2016) 127288 0 0 0 222671 0 15308 0 17138 0 382405 0 0 0 DOUGLAS FIORE EXITED 012016 INTERIM PROVOST 166260 0 0 0 267 0 5128 0 14660 0 186315 0 0 0 JOHN C SHULTZ PRESIDENT OF SEMINARY 118393 0 0 0 51332 0 93224 0 10196 0 273145 0 0 0 PATRICK EWING VP OF FACILITIES MGMT 98578 0 0 0 132 0 3197 0 63288 0 165195 0 0 0 STEPHEN R STORCK VP FINANCE & ADMINISTRATION 165550 0 0 0 0 0 5157 0 16458 0 187165 0 0 0 MARGARET A POMFRET VP OF DEVELOPMENT 148949 0 0 0 147 0 4468 0 13214 0 166778 0 0 0 ROGER BECKETT DIRECTOR ASHBROOK CENTER 193988 0 0 0 5710 0 19853 0 24317 0 243868 0 0 0 VICTORIA HUGHES DIR. OF DEVELOPMENT ASHBROOK CENTER 174542 0 0 0 307 0 5314 0 7794 0 187957 0 0 0 DAWN WEBER DEAN OF ARTS & SCIENCES 137791 0 0 0 311 0 4213 0 8549 0 150864 0 0 0 JEFFERY RUSSELL DEAN OF BUSINESS 137660 0 0 0 1226 0 4311 0 17954 0 161151 0 0 0 DANIEL FOX ASSOCIATE PROFESSOR OF BUSINESS 134690 0 0 0 319 0 2910 0 21618 0 159537 0 0 0 PART I, LINE 1A A HOUSING ALLOWANCE WAS PROVIDED FOR THE FOLLOWING INDIVIDUALS: FREDERICK J. FINKS - $35,586 JOHN C. SHULTZ - $ 44,471 CARLOS CAMPO - $4,149 SOCIAL CLUB DUES OF $2,385 WERE PROVIDED FOR ROGER BECKETT. PART I, LINES 4A-B LINE 4A: JOHN C. SHULTZ - $88,230 LINE 4B: CARLOS CAMPO - $175,990 A ECONOMIC DEVELOPMENT AND FINANCE ALLIANCE OF TUSCARAWAS COUNTY 300012117 90069GAB9 2015-07-29 67355000 PAYOFF PREVIOUS DEBT & CAPITAL IMPROVEMENTS 0 0 0 A 67355000 4997900 741625 1341412 3242202 55274063 1757798 2015 1 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 0 0 0 0 1 0 A 0 25366 SCHOLARSHIP EDUCATIONAL WARD TITLE AGENCY ROBERT G. WARD, II, TRUSTEE IS A CO-OWNER OF WARD TITLE AGENCY 147433 TITLE WORK PERTAINING TO THE PURCHASE OF UNIVERSITY PROPERTIES 0 SPRENG-SMITH INSURANCE SON OF JOHN SHULTZ OFFICER, IS CO-OWNER OF SPRENG-SMITH INSURANCE 462058 INSURANCE PROVIDER 0 X 1 4988 FAIR MARKET VALUE X 18 4042726 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): THE NUMBER SHOWN IN COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTORS FOR EACH TYPE OF PROPERTY FOR THE YEAR ENDED MAY 31, 2016. FORM 990, PART VI, SECTION A, LINE 1 WHEN THE BOARD OF TRUSTEES IS NOT IN SESSION, THE EXECUTIVE COMMITTEE SHALL HAVE THE AUTHORITY TO EXERCISE ALL THE FUNCTIONS OF THE BOARD OF TRUSTEES. THE COMMITTEE MAY NOT HIRE OR REMOVE THE PRESIDENT, CHANGE THE BY-LAWS OF THE POLICY AND PROCEDURE MANUAL, MAKE CHANGES TO THE MISSION, APPROVE MAJOR CONSTRUCTION PROJECTS, INCUR DEBT FINANCING, SELL OR ACQUIRE MAJOR ASSETS OR ELECT BOARD MEMBERS. MINUTES OF THE EXECUIVE COMMITTEE SHALL BE PRESENTED TO THE FULL BOARD FOR THEIR APPROVAL AT THE NEXT BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 PREPARED BY THE CONTROLLER WITH ASSISTANCE OF AN INDEPENDENT TAX PREPARATION FIRM. UNIVERSITY MANAGEMENT REVIEWS THE 990 FOR COMPLETENESS AND ACCURACY. THE AUDIT AND COMPLIANCE COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS AND APPROVES THE FORM 990 PRIOR TO FILING. THE ENTIRE BOARD OF TRUSTEES IS GIVEN ACCESS TO THE FILING COPY PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS AND OFFICERS SIGN A CONFLICT OF INTEREST DISCLOSURE FORM ANNUALLY. STAFF IN THE PRESIDENT'S OFFICE REVIEW THE SIGNED FORMS FOR COMPLENESS AND DISCLOSURE OF CONFLICTS. ANY MEMBER WHO HAS A CONFLICT RECUSES HIMSELF OR HERSELF FROM THE DISCUSSION AND VOTING TOPICS AT BOARD MEETINGS. ALL INTERESTED PERSONS, INCLUDING BOARD MEMBERS, OFFICERS, KEY EMPLOYEES AND HIGHLY COMPENSATED INDIVIDUALS ALSO COMPLETE AN ANNUAL QUESTIONNAIRE REGARDING POTENTIAL CONFLICTS WHICH MIGHT EXIST. THE RESPONSES TO THIS QUESTIONARE ARE REVIEWED BY THE OFFICE OF BUSINESS AFFAIRS. THE EMPLOYEE HANDBOOK HAS A CONFLICT OF INTEREST STATEMENT THAT COVERS ALL EMPLOYEES OF THE UNIVERSITY. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES IS RESPONSIBLE FOR SETTING COMPENSATION FOR THE PRESIDENT. THE BOARD REVIEWED AND APPROVED THE LEVEL OF COMPENSATION FOR THE CURRENT PRESIDENT BASED ON VARIOUS FACTORS, INCLUDING REVIEW OF PRESIDENTIAL COMPENSATION PACKAGES AT COMPARABLE INSTITUTIONS AND REVIEW OF THE MARKET OF CANDIDATES WITH SIMILAR LEVELS OF EXPERTISE AS THE CANDIDATE. THE PRESIDENTIAL ASSESSMENT COMMITTEE OF THE BOARD CONDUCTS ON-GOING ANALYSIS OF PRESIDENTIAL COMPENSATION AND MAKES ADJUSTMENTS BASED ON PERFORMANCE AND MARKET DATA. THE UNIVERSITY USES PEER DATA AND INTERNAL EQUITY CONSIDERATIONS TO SET COMPENSATION FOR ALL OTHER EMPLOYEES. THE PRESIDENT SETS COMPENSATION FOR VICE PRESIDENTS USING THE COMPENSATION STUDY, OTHER INDUSTRY COMPENSATION COMPILATIONS AND COMPARING SIMILARLY SITUATED INSTITUTIONS. THIS PROCESS IS COMPLETED ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE KEPT ON-SITE AND ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENT 756,168. LOSS ON REFINANCING OF BONDS PAYABLE -112,277. FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS AN AUDIT AND COMPLIANCE COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. ASHLAND THEOLOGICAL SEMINARY FOUNDATION 910 CENTER STREET ASHLAND OH 44805 341202588 PROVIDES SUPPORT TO ASHLAND THEOLOGICAL SEMINARY OH 501(C)(3) LINE 11C, III-FI ASHLAND UNIVERSITY 1 FRIENDS OF ASHBROOK CENTER PO BOX 5192 ASHLAND OH 44805 341581651 PROVIDES SUPPORT TO JOHN M. ASHBROOK CENTER FOR PUBLIC AFFAIRS OH 501(C)(3) LINE 11D, III-O ASHLAND UNIVERSITY 0 ASHLAND LEGACY TRUST PO BOX 384 ASHLAND OH 44805 456496788 SEE PART VII FOR PRIMARY ACTIVITY OH T 0 0 0 1 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 ASHLAND THEOLOGICAL SEMINARY FOUNDATION C 230225 CASH PART IV, COLUMN (B), PRIMARY ACTIVITY: THE TRUST HOLDS LIFE INSURANCE POLICIES ON SEVERAL OF THE UNIVERSITY'S CURRENT AND FORMER BOARD MEMBERS AND OTHERS.