2017-05-15T14:37:44-05:00 2016-06-30 450250958 EIDE BAILLY LLP 200 EAST 10TH ST PO BOX 5125 SIOUX FALLS SD 571175125 990 2015-07-01 460224600 UNIVERSITY OF SIOUX FALLS UNIV 6053316592 1101 WEST 22ND STREET SIOUX FALLS SD 571051600 BRETT BRADFIELD PRESIDENT 6053316592 2017-05-15 1 LAURIE HANSON P00851848 6053391999 2017-05-15 2015 2021-01-29 14:40:06Z BRETT BRADFIELD 1101 WEST 22ND STREET SIOUX FALLS SD 571051600 50292130 0 X WWW.USIOUXFALLS.EDU X 1883 SD AS A CHRISTIAN UNIVERSITY, USF EDUCATES STUDENTS IN THE HUMANITIES, SCIENCES, AND PROFESSIONS. 51 49 799 20 71886 -42154 4101155 3710805 29277811 32525534 804809 3167554 107868 138266 34291643 39542159 11731794 13638575 0 0 12660892 13525561 49661 49212 786837 11908480 12538217 36350827 39751565 -2059184 -209406 73377023 75558764 24217537 21352247 49159486 54206517 X THE UNIVERSITY OF SIOUX FALLS, A CHRISTIAN UNIVERSITY IN THE LIBERAL ARTS TRADITION, EDUCATES STUDENTS IN THE HUMANITIES, SCIENCES AND PROFESSIONS. THE TRADITIONAL MOTTO OF THE UNIVERSITY IS CULTURE FOR SERVICE, THAT IS, WE SEEK TO FOSTER ACADEMIC EXCELLENCE AND THE DEVELOPMENT OF MATURE CHRISTIAN PERSONS FOR SERVICE TO GOD AND HUMANKIND IN THE WORLD. THROUGH PROGRAMS IN THE HUMANITIES, SCIENCES AND PROFESSIONS, THE UNIVERSITY HELPS PERSONS GROW INTELLECTUALLY, DISCERN TRUTH AND DEVELOP A CHRISTIAN WORLDVIEW. AS A CHRISTIAN INSTITUTION, THE UNIVERSITY OF SIOUX FALLS FOSTERS IN ALL MEMBERS OF ITS COMMUNITY THE DEVELOPMENT OF EMOTIONAL MATURITY, PHYSICAL WELL-BEING, INTERPERSONAL SKILLS AND VALUES WHICH REFLECT THE CHARACTER AND TEACHINGS OF CHRIST. THE UNIVERSITY OF SIOUX FALLS IS COMMITTED TO THE LORDSHIP OF JESUS CHRIST AND TO THE INTEGRATION OF BIBLICAL FAITH AND LEARNING; IT AFFIRMS THAT CHRISTIANS ARE CALLED TO SHARE THEIR FAITH WITH OTHERS THROUGH LIVES OF SERVICE. 0 0 35045801 13638575 32553710 PRIVATE LIBERAL ARTS HIGHER EDUCATION--PROVIDING EDUCATION TO 1,482STUDENTS WORKING TOWARD ASSOCIATES, BACHELORS, AND MASTERS DEGREES. 35045801 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 1 1 0 0 0 1 69 1 1 799 1 1 1 0 0 0 0 1 1 0 0 0 0 X 51 49 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X SUSAN THIE 6053316592 1101 W 22ND ST SIOUX FALLS SD 571051600 TOM LILLIBRIDGE CO-CHAIRPERSON 5.00 X X 0 0 0 JOHN LILLIBRIDGE CO-CHAIRPERSON 5.00 X X 0 0 0 DR JOHN COLLIER VICE CHAIR OF THE BOARD 5.00 X X 0 0 0 KIMBERLY THUNE SECRETARY 5.00 X X 0 0 0 TIM BAILEY TRUSTEE 5.00 X 0 0 0 WILLIAM BALLENGER TRUSTEE 5.00 X 0 0 0 PAT BARBER TRUSTEE 5.00 X 0 0 0 CAPTAIN RICHARD BARCUS TRUSTEE 5.00 X 0 0 0 DR FRED BELLUM TRUSTEE 5.00 X 0 0 0 JUDY BLAUWET TRUSTEE 5.00 X 0 0 0 LOIS BOICE TRUSTEE 5.00 X 0 0 0 TOM BOSCH TRUSTEE 5.00 X 0 0 0 DR CURT BUCHHOLZ TRUSTEE 5.00 X 0 0 0 DANITA BYE TRUSTEE 5.00 X 0 0 0 WARREN CAMP TRUSTEE 5.00 X 0 0 0 DR JC CHAMBERS TRUSTEE 5.00 X 0 0 0 DAVE CLEVELAND TRUSTEE 5.00 X 0 0 0 JAN DEWITT TRUSTEE UNTIL 08/2015 5.00 X 0 0 0 SHIRLEY DIAMOND TRUSTEE 5.00 X 0 0 0 JAY EIDSNESS TRUSTEE 5.00 X 0 0 0 DR CAROL EVANS TRUSTEE 5.00 X 0 0 0 DR ROGER FREDRIKSON TRUSTEE UNTIL 06/2016 5.00 X 0 0 0 RICHARD GARSIDE TRUSTEE 5.00 X 0 0 0 REV WARREN HOFFMAN TRUSTEE 5.00 X 0 0 0 MARY HULL TRUSTEE 5.00 X 0 0 0 DAN HYLLAND TRUSTEE 5.00 X 0 0 0 AL JOHNSON TRUSTEE 5.00 X 0 0 0 DOROTHY JOHNSON CASELLI TRUSTEE 5.00 X 0 0 0 MERLE JOHNSON TRUSTEE 5.00 X 0 0 0 SUSAN KUHN TRUSTEE 5.00 X 0 0 0 ROBERT R LARSEN MD TRUSTEE 5.00 X 0 0 0 LOREN LONG TRUSTEE UNTIL 01/2016 5.00 X 0 0 0 BARBARA MCMURCHIE TRUSTEE 5.00 5.00 X 0 0 0 MAX MERRY TRUSTEE 5.00 X 0 0 0 LAUREN NELSON TRUSTEE 5.00 X 2657 0 0 SUSAN NORBERG TRUSTEE 5.00 X 0 0 0 DRPAULA O'NEILL-WEEDON TRUSTEE 5.00 X 0 0 0 DRGARY OLSON TRUSTEE 5.00 X 0 0 0 REVRANDY RASMUSSEN TRUSTEE 5.00 X 0 0 0 SCOTT RYSDON TRUSTEE 5.00 X 0 0 0 JEFF SAVAGE TRUSTEE 5.00 5.00 X 0 0 0 DRGORDON A STEWART TRUSTEE 5.00 5.00 X 0 0 0 DRMARIAN D SULLIVAN TRUSTEE 5.00 X 0 0 0 DRROBERT L VENINGA TRUSTEE 5.00 X 0 0 0 FLORETTA WARD TRUSTEE UNTIL 01/2016 5.00 X 0 0 0 MICHAEL WOODDEN TRUSTEE 5.00 X 0 0 0 STEVE YOUNG TRUSTEE 5.00 X 0 0 0 PAUL HAMMOND TRUSTEE 5.00 X 0 0 0 PAUL BARBER TRUSTEE FROM 01/2016 5.00 X 0 0 0 GARY BAUMGARTENER TRUSTEE FROM 01/2016 5.00 X 0 0 0 LEON BILL TRUSTEE FROM 01/2016 5.00 X 0 0 0 WILLIAM EDWARDS TRUSTEE FROM 01/2016 5.00 X 0 0 0 PAUL EIDNESS TRUSTEE FROM 01/2016 5.00 X 0 0 0 DAVE FLECK TRUSTEE FROM 01/2016 5.00 X 0 0 0 BILL SOEFFING TRUSTEE/FACULTY 5.00 X 79337 0 18021 MARK BENEDETTO PRESIDENT 50.00 X 272532 0 60088 MARSHA DENNISTON VP FOR BUSINESS AND FINANC 50.00 X 96513 0 21906 BRETT BRADFIELD VP OF ACADEMIC AFFAIRS 50.00 X 153588 0 19175 JED STUGART COACH 40.00 X 114346 0 15554 JESSICA CHERENEGAR DIRECTOR OF SCHOOL OF NURS 40.00 X 126258 0 16934 JOSHUA SNYDER ATHLETIC DIRECTOR 40.00 X 102090 0 13800 MICHAEL THOMPSON ASSO.PROFESSOR,CRIMINAL JUSTICE 40.00 X 100080 0 21760 1047401 0 187238 6 0 1 0 ARAMARK CAMPUS SERVICES 1101 W 22ND ST SIOUX FALLS SD 57105 FOOD SERVICES 1323471 ARAMARK CORPORATION ARAMARK HIGHER EDUC 24818 NETWORK PLACE CHICAGO IL 60673 PHYSICAL PLANT MANAGEMENT 863818 D&G CONCRETE CONSTRUCTION 1408 E 39TH ST NORTH SIOUX FALLS SD 57104 CONSTRUCTION 800485 G&R CONTROLS 4909 NORTH LEWIS AVENUE SIOUX FALLS SD 57104 MECHANICAL CONTRACTORS 502304 ROYALL & COMPANY 1920 E PARHAM RD RICHMOND VA 23228 DIRECT MAILING SERVICES 329422 13 26605 369214 3314986 40514 3710805 TUITION AND FEES 611600 28482867 28482867 STUDENT HOUSING 611600 2027102 2027102 FOOD SERVICE 611600 1464903 1464903 OTHER INCOME 541800 550662 478776 71886 32525534 406805 406805 62903 0 62903 62903 62903 10502291 2770938 10114426 398054 387865 2372884 2760749 2760749 36970 26605 18469 18501 18501 26535 6832 19703 19703 249349 212190 37159 37159 39542159 32553710 71886 3205758 13638575 13638575 687367 284858 402509 10540396 8910728 1187906 441762 289707 210448 69509 9750 1225988 719509 447208 59271 782103 661583 88791 31729 53549 48550 4999 54600 54600 49212 49212 120367 107931 12436 955335 757258 166101 31976 308668 115860 192808 2436111 2170320 225998 39793 393437 10822 380815 1800 1689977 1525104 149789 15084 836975 760560 55022 21393 32929 18889 10413 3627 828348 781960 42246 4142 2579584 2435127 131559 12898 211933 113884 97599 450 INSTRUCTIONAL SUPPORT 669074 669074 MISCELLENOUS EXPENSE 485499 289987 136561 58951 REPAIRS/MAINTENANCE 456742 452056 4686 ACADEMIC SUPPORT 425089 411268 13821 39751565 35045801 3918927 786837 306009 508185 496915 164942 3640917 3985292 793636 595626 1353742 1460702 123985 116093 553996 530263 79110473 31907120 48510565 47203353 9093109 17108439 1944342 1951149 6559807 1934720 73377023 75558764 2002105 2444615 1656585 1460257 1889004 1787668 14715000 13980000 500000 3030000 924843 1179707 24217537 21352247 X 31959087 32494895 8516208 9267142 8684191 12444480 49159486 54206517 73377023 75558764 X -209406 -1099718 6863923 -507768 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 17410020 7546145 -397762 505648 222392 23830363 17547239 194736 229658 383081 178532 17410020 15548826 141950 2368773 336326 175984 17547239 14619237 128796 1454634 294442 359399 15548826 14312004 1009374 -316427 291071 94643 14619237 0.12000 0.36000 0.52000 1 1 1 9946934 9946934 53870393 20885451 32984942 14763030 11021669 3741361 530116 530116 47203353 INTEREST RATE SWAP 1179707 1179707 X 24296098 -1099718 -14146343 -15246061 39542159 0 39542159 26112990 0 26112990 13638575 13638575 39751565 PART V, LINE 4: TO ADVANCE AND SUPPORT EDUCATION BY PROVIDING ASSISTANCE TO, AND BENEFITS FOR, THE UNIVERSITY OF SIOUX FALLS AND ITS STUDENTS, FACULTY AND PROGRAMS. PART V, LINE 1.B. - BECAUSE OF THE MERGER WITH THE UNIVERSITY OF SIOUX FALLS FOUNDATION, THE FOUNDATION ENDOWMENT FUNDS TRANSFERRED TO USF $6,590,941 EFFECTIVE 1/1/16. PART V, LINE 1.F. - USF RESTATED ITS PREVIOUSLY ISSUED FINANCIAL STATEMENTS TO REFLECT THE JUNE 30, 2015 NET ASSET CLASSIFICATIONS AND TO CORRECT $81,019 RELATED CLASSIFICATION ERRORS IN REVENUE FOR THE YEAR ENDED JUNE 30, 2015. PART X, LINE 2: THE UNIVERSITY IS A PUBLICLY SUPPORTED ORGANIZATION AND HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3). THE UNIVERSITY IS REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. IN ADDITION, THE UNIVERSITY IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO ITS EXEMPT PURPOSES. THE UNIVERSITY FILES AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T) WITH THE IRS TO REPORT ITS UNRELATED BUSINESS TAXABLE INCOME. THE UNIVERSITY BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE UNIVERSITY WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSES -13,638,575. CHANGE IN VALUE OF INTEREST RATE SWAPS -254,865. CHANGE IN CSV LIFE INSURANCE -1,818. CHANGE IN VALUE OF SPLIT INTERST AGREEMENT -251,085. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSES 13,638,575. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 UNIVERSITY BROCHURES, CATALOGS, ADVERTISING, WEBSITE ETC. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY PARTICIPATES IN THE FEDERAL GOVERNMENT STUDENT FINANCIAL AID PROGRAMS AND RECEIVES OTHER VARIOUS FEDERAL GRANTS. PARTICIPATION IN THE STUDENT FINANCIAL AID PROGRAMS IS AS FOLLOWS: PERKINS LOANS, COLLEGE WORK-STUDY, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS, PELL GRANTS, AND STAFFORD LOANS. X X X X X X 1 BENTZ WHALEY FLESSNER INC 7251 OHMS LN MINNEAPOLIS MN 55439 CAMPAIGN CONSULTING 0 0 49212 0 49212 FALL CHOIR CONCERT 42981 17830 25151 8465 2394 110 CHAMPIONS GOLF TOURNAMENT 20594 8775 11819 7500 63575 26605 36970 8465 9894 110 18469 18501 26535 5000 1456 376 1 0.94000 26535 5000 1456 376 6832 19703 SD 0 THE STATE OF SOUTH DAKOTA DOES NOT REQUIRE LICENSING FOR RAFFLES. 0 1 0 1.00000 0.00000 0 DANIEL VANDER WOUDE ASSISTANT ATHLETIC DIRECTOR, INTERNAL OPERATIONS, TICKETING X 0 1 UNFUNDED INSTITUTIONAL AID 1024 12600854 CASH INSTITUTIONAL AID 140 326766 ENDOWED SCHOLARSHIPS 401 539120 FEDERAL SCHOLARSHIPS 406 170835 STATE SCHOLARSHIP 1 1000 PART I, LINE 2: FOR FEDERAL AND PASS-THROUGH GRANTS FOR PROGRAMS, EACH GRANT HAS A GRANT MANAGER. ON A MONTHLY BASIS, THE BUSINESS OFFICE RECONCILES EXPENSES INCURRED FOR EACH GRANT AND VERIFIES WITH THE RESPECTIVE GRANT MANAGER. ONCE CONFIRMED, THE BUSINESS OFFICE REQUESTS REIMBURSEMENT FROM THE RESPECTIVE AWARDING AGENCY. FOR SCHOLARSHIPS, FINANCIAL AID REVIEWS THE SPECIFIC CRITERIA FOR AWARDING TO STUDENTS. THE BUSINESS OFFICE DOES A RECONCILIATION OF EXPENSES (FINANCIAL AID AWARDED) BEFORE DRAWING DOWN ACTUAL DOLLARS FROM THE ENDOWMENT AND FEDERAL FINANCIAL AID. FOR PROGRAMS, THERE ARE TWO DIFFERENT METHODS USED. SOME PROGRAMS HAVE "BUDGET MANAGERS" WHO ARE AWARE OF THE FUNDS AVAILABLE VIA THE BUSINESS OFFICE AND SPEND ACCORDINGLY. FOR THOSE PROGRAMS WITHOUT "BUDGET MANAGERS AND FOR UNRESTRICTED ENDOWMENTS, THE BUSINESS OFFICE ENSURES THAT THERE ARE EXPENSES INCURRED IN THOSE SPECIFIC DEPARTMENTS BEFORE DRAWING DOWN ACTUAL DOLLARS. IN ALL CASES FOR THE ENDOWMENTS, THE BUSINESS OFFICE DOES A RECONCILIATION TO ENSURE THAT THE PROPER DOLLAR AMOUNT IS CALCULATED, AWARDED/EXPENSED, AND DRAWN DOWN. X 0 1 X X X X 0 0 0 0 0 0 0 0 0 MARK BENEDETTO PRESIDENT 266168 0 4775 0 1589 0 10418 0 52168 0 335118 0 0 0 BRETT BRADFIELD VP OF ACADEMIC AFFAIRS 153588 0 0 0 0 0 0 0 20521 0 174109 0 0 0 PART I, LINE 1A THE PRESIDENT IS A MEMBER OF THE CLERGY AND THE HOUSING ALLOWANCE IS TREATED ACCORDING TO THE HOUSING ALLOWANCE RULES FOR CLERGY. PART I, LINE 1B THE PRESIDENT IS A MEMBER OF THE CLERGY AND THE HOUSING ALLOWANCE IS TREATED ACCORDING TO THE HOUSING ALLOWANCE RULES FOR CLERGY. THE ALLOWANCE IS NOT PART OF HIS CONTRACT BUT A PORTION OF HIS BASE PAY THAT IS CLASSIFIED SEPARATELY SINCE HE IS A MEMBER OF THE CLERGY. A SOUTH DAKOTA HEALTH AND EDUCATIONAL FACILITIES AUTHORITY 460315509 2010-05-28 18000000 TO REFUND BONDS ISSUED 12/6/2001,1/23/2005 AND 12/23/2008; CONSTRUCTION 0 0 0 A 4020000 18000000 289708 1835384 15874908 2010 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 1 0 1 0 0 0 0 A 0 SCHEDULE K PART II LINE 11 THE AMOUNT REPORTED ON PART I, LINE 11 IS THE AMOUNT OF BOND PROCEEDS USED TO REFUND THE PRIOR BONDS ISSUED IN 2001, 2005 AND 2008. JOHN COLLIER SUBSTANTIAL CONTRIBUTOR CONSTRUCTION X 500000 500000 0 1 1 500000 NA N/A 70070 DISCOUNTED TUITION UNDERGRADUATE STUDIES X 5 40514 FMV AT DATE OF GIFT 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 1 THE NUMBER OF MEMBERS OF THE EXECUTIVE COMMITTEE SHALL BE NO FEWER THAN NINE. THE EXECUTIVE COMMITTEE SHALL, WHEN THE BOARD IS NOT IN SESSION, HAVE FULL AUTHORITY TO TRANSACT ANY AND ALL BUSINESS OF THE BOARD, IN ACCORDANCE WITH ITS GENERAL POLICIES AS SET OUT IN THE BYLAWS AND AS MAY BE OTHERWISE DECLARED BY THE BOARD. THE EXECUTIVE COMMITTEE SHALL MEET QUARTERLY AT SUCH TIME AND PLACE AS DESIGNATED. FIVE MEMBERS SHALL CONSTITUTE A QUORUM. FORM 990, PART VI, SECTION A, LINE 2 JOHN LILLIBRIDGE AND TOM LILLIBRIDGE, BOTH TRUSTEES, HAVE A FAMILY RELATIONSHIP AND A BUSINESS RELATIONSHIP. PAUL BARBER AND PAT BARBER HAVE A FAMILY RELATIONSHIP. PAUL EIDSNESS AND JAY EIDSNESS HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 MANAGEMENT (INCLUDING 2 CPA'S ON STAFF) REVIEWS FORM 990 BEFORE IT IS FILED. A COPY OF THE 990 IS PROVIDED TO THE GOVERNING BODY THROUGH THE UNIVERSITY'S WEBSITE PRIOR TO THE RETURN BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY COVERS THE BOARD OF TRUSTEES AND THE PRESIDENT OF THE UNIVERSITY. PROCEDURES FOR IDENTIFYING CONFLICT OF INTEREST: A COPY OF THE POLICY IS MADE AVAILABLE TO ALL BOARD OF TRUSTEES, FOUNDATION BOARD OF DIRECTORS, AND MEMBERS OF MANAGEMENT BY THE COMPLIANCE OFFICER. THE COMPLIANCE OFFICER WILL ENSURE THAT ALL FORMS ARE COMPLETED AND RETURNED AND PROVIDE A SUMMARY TO THE USF PRESIDENT. INFORMATION SHARED BEYOND THIS POINT WILL BE GOVERNED BY A BUSINESS, OR ETHICAL, NEED TO DISCLOSE AS DETERMINED BY THE APPROPRIATE BOARD CHAIR, USF PRESIDENT OR THE CORPORATE OFFICER. DETERMINING WHETHER A CONFLICT OF INTEREST EXISTS: AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, THE BOARD OR COMMITTEE ADDRESSING THE TRANSACTION AT ISSUE SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. PROCEDURES FOR ADDRESSING THE CONFLICT OF INTEREST: AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD OR COMMITTEE MEETING IF APPLICABLE. PRIOR TO THE PRESENTATION, FULL DISCLOSURE OF THE POTENTIAL CONFLICT OF INTEREST MUST BE MADE TO THE INDIVIDUALS HEARING THE PRESENTATION. AFTER SUCH PRESENTATION, HE/SHE IS NOT TO PARTICIPATE IN THE VOTE ON THE TRANSACTION OR ARRANGEMENT THAT RESULTS IN THE CONFLICT OF INTEREST. THE PRESIDENT AND/OR BOARD CHAIR, ALONG WITH THOSE INDIVIDUALS THEY DEEM TO BE APPROPRIATE TO THE DECISION, SHALL DETERMINE WHETHER THE TRANSACTION OR ARRANGEMENT IS IN USF'S BEST INTEREST AND FOR ITS OWN BENEFIT AND WHETHER THE TRANSACTION IS FAIR AND REASONABLE. THEY SHALL THEN MAKE THE DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT IN CONFORMITY WITH SUCH DETERMINATION. FORM 990, PART VI, SECTION B, LINE 15A THE PERSONNEL COMMITTEE OF THE BOARD OF TRUSTEES ACTS ON BEHALF OF THE FULL BOARD. THE COMMITTEE REVIEWS A CCCU COMPENSATION SURVEY TO ASSIST WITH DRAFTING A COMPENSATION PACKAGE. THE COMPENSATION PACKAGE IS THEN VOTED ON BY THE PERSONNEL COMMITTEE. THE PROCESS IS UNDERTAKEN ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE FOR INSPECTION UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAPS -254,865. CHANGE IN CSV LIFE INSURANCE -1,818. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT -251,085. HAYWARD MEMORIAL TESTAMENTARY TRUST 100 S PHILLIPS AVE SIOUX FALLS SD 57104 466010897 SUPPORTING ORGANIZATION SD 501(C)(3) LINE 11A, I 0 CHARITABLE REMAINDER TRUST (1) INVESTMENT PA N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0