2017-05-15T11:30:43-05:00 2016-06-30 410746749 CLIFTONLARSONALLEN LLP 220 SOUTH SIXTH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2015-07-01 410693970 UNIVERSITY OF ST THOMAS UNIV 6519625000 2115 SUMMIT AVENUE ST PAUL MN 551051078 MARK VANGSGARD TREASURER 6519625000 2017-05-08 1 KAREN GRIES P00078514 6123764500 2015 2021-01-29 14:40:06Z JULIE SULLIVAN 2115 SUMMIT AVENUE ST PAUL MN 551051078 457555142 0 X WWW.STTHOMAS.EDU X 1885 MN SEE SCHEDULE O 34 29 6186 4377 436198 -493084 25205052 26426682 302272977 314680414 15587518 12105283 16882159 18549847 359947706 371762226 102556515 109961986 0 0 158079294 177562371 154500 163284 8086634 81839485 86288179 342629794 373975820 17317912 -2213594 1167805811 1130089164 297375565 289898787 870430246 840190377 X SEE SCHEDULE O 0 0 244029315 109961986 296528020 INSTRUCTION AND RESEARCH: DURING THE YEAR, 10,245 STUDENTS WERE ENROLLED AT THE UNIVERSITY OF ST. THOMAS PURSUING UNDERGRADUATE, GRADUATE, DOCTORAL AND LAW DEGREES. 34287409 0 3544934 STUDENT SERVICES: SERVICES PROVIDED TO STUDENTS INCLUDING ENROLLMENT SERVICES, DEAN OF STUDENTS, REGISTRAR, ATHLETICS, CAREER DEVELOPMENT, PERSONAL COUNSELING, INTERNATIONAL STUDENTS SERVICES, STUDENT CLUBS AND ORGANIZATIONS, AND STUDENT HEALTH SERVICES. 34261810 0 24752914 AUXILIARY SERVICES: PROVIDED SERVICES TO THE UNIVERSITY COMMUNITY, INCLUDING FOOD SERVICES, HOUSING, BOOKSTORES, CONFERENCE SERVICES AND DAY CARE SERVICES. 22122773 0 2617997 OTHER PROGRAM SERVICES: ACADEMIC SUPPORT PROVIDED TO THE UNIVERSITY COMMUNITY INCLUDING LIBRARY FACILITIES, ACADEMIC ADVISING, AND THE FACULTY DEVELOPMENT CENTER. THE UNIVERSITY PROVIDES PUBLIC SERVICES INCLUDING THE SENIOR CITIZEN CENTER, LOAVES AND FISHES, SERVICE LEARNING, AND VISION TRIPS. THE UNIVERSITY ALSO PROVIDES OTHER PROGRAMS TO FURTHER THEIR EDUCATIONAL PURPOSES. 22122773 0 2617997 334701307 1 1 0 1 0 0 0 1 1 1 1 1 0 0 1 1 1 0 1 1 1 0 1 1 1 0 0 1 1 1 1 0 0 0 0 0 0 1 0 0 1 1 1 0 0 1 1 1 1 0 0 1 13479 0 1 6186 1 1 1 1 IT 0 0 0 1 1 0 0 0 1 0 X 34 29 1 0 0 0 0 1 0 1 1 0 0 0 1 1 1 1 1 1 0 0 AL CO FL KY MD MA MI MN NH ND OR SC SD X MARK VANGSGARD 6519626100 2115 SUMMIT AVE ST PAUL MN 551051078 JOHN MORRISON BOARD CHAIR 15.00 X X 0 0 0 AMY GOLDMAN BOARD VICE CHAIR 1.00 X X 0 0 0 JULIE SULLIVAN PRESIDENT 40.00 X X 628576 0 86576 JOHN N ALLEN TRUSTEE 1.00 X 0 0 0 LISA S ANDERSON TRUSTEE 1.00 X 0 0 0 MICHAEL V CIRESI TRUSTEE 1.00 X 0 0 0 BURTON D COHEN TRUSTEE 1.00 X 0 0 0 GAIL J DORN TRUSTEE 1.00 X 0 0 0 MICHAEL E DOUGHERTY TRUSTEE 1.00 X 0 0 0 ANDREW S DUFF TRUSTEE 1.00 X 0 0 0 TIMOTHY P FLYNN TRUSTEE 1.00 X 0 0 0 EUGENE U FREY TRUSTEE 1.00 X 0 0 0 GEOFFREY C GAGE TRUSTEE 1.00 X 0 0 0 ANTOINE M GARIBALDI TRUSTEE 1.00 X 0 0 0 JAMES P GEAREN TRUSTEE 1.00 X 0 0 0 MARK W GREGG TRUSTEE 1.00 X 0 0 0 KATHLEEN J HIGGINS VICTOR TRUSTEE 1.00 X 0 0 0 VIRGINIA A HUBBARD MORRIS TRUSTEE 1.00 X 0 0 0 THOMAS MADISON TRUSTEE 1.00 X 0 0 0 REVEREND EDWARD MALLOY CSC TRUSTEE 1.00 X 0 0 0 REVEREND JOHN M MALONE TRUSTEE 1.00 X 30062 0 0 MARY G MARSO TRUSTEE 1.00 X 0 0 0 HARRY G MCNEELY JR TRUSTEE 1.00 X 0 0 0 ALVIN E MCQUINN TRUSTEE 1.00 X 0 0 0 THE HONORABLE DIANA E MURPHY TRUSTEE 1.00 X 0 0 0 STEPHEN P NACHTSHEIM TRUSTEE 1.00 X 0 0 0 AIMEE K PETRA TRUSTEE 1.00 X 0 0 0 WILLIAM S REILING TRUSTEE, LEFT JUNE 2016 1.00 X 0 0 0 PATRICK G RYAN TRUSTEE 1.00 X 0 0 0 ROBERT J ULRICH TRUSTEE 1.00 X 0 0 0 BRIAN D WENGER TRUSTEE 1.00 X 0 0 0 FRANK WILDERSON JR TRUSTEE 1.00 X 0 0 0 ANN L WINBLAD TRUSTEE 1.00 X 0 0 0 MARK A ZESBAUGH TRUSTEE 1.00 X 0 0 0 DENNIS DEASE PRESIDENT EMERITUS/TRUSTEE 40.00 X 109479 0 24600 SARA GROSS METHNER GENERAL COUNSEL & SECRETARY 40.00 X 220962 0 46754 MARK VANGSGARD CFO 40.00 X 261793 0 44785 RICHARD PLUMB EVP & PROVOST 40.00 X 355493 0 48811 STEFANIE LENWAY DEAN, OPUS COLLEGE OF BUSINESS 40.00 X 389505 0 32906 MICHAEL PAULSEN LAW PROFESSOR 40.00 X 333223 0 47379 DANIEL MEYER VP FOR ENROLLMENT MANAGEMENT 40.00 X 274497 0 30866 DAVID DEEDS PROFESSOR OF ENTREPRENEURS 40.00 X 273765 0 78676 JOHN OLSON PROFESSOR OF SUPPLY CHAIN MANAGEMENT 40.00 X 293479 0 21890 3170834 0 463243 209 0 1 0 MIDWEST MECHANICAL SOLUTIONS 8125 LEWIS RD GOLDEN VALLEY MN 55427 CONSTRUCTION 1057870 OPUS HOLDING LLC 10350 BREN RD W MINNETONKA MN 55343 CONSTRUCTION 701436 RYAN COMPANIES US INC 50 S 10TH ST 300 MINNEAPOLIS MN 55403 CONSTRUCTION 694941 SEXTON PRINTING INC 250 LOTHENBACH AVE ST PAUL MN 55118 PRINTING/MARKETING 564762 METROPOLITAN MECHANICAL CONTRACTORS 7450 FLYING CLOUD DR EDEN PRAIRIE MN 55344 CONSTRUCTION 494263 51 126370 4318402 21981910 622496 26426682 TUITION & FEES 611600 288787642 288787642 STUDENT HOUSING 721310 18175128 17885125 290003 SEMINARS & WORKSHOPS 611600 7717644 7717644 314680414 4271229 -625490 4896719 235706 235706 170908 170908 84292001 47857 76722073 19437 7569928 28420 7598348 137982 7460366 79147 126370 122769 -43622 -43622 17493154 8928637 8564517 5520227 -62480 3106770 PARKING 812930 1518731 1518731 STUDENT HEALTH INSURAN 900099 1015827 1015827 RENTAL 531390 885962 483946 402016 6437524 6033454 294167 109903 9858044 371762226 327443865 436198 17455481 867381 867381 109044894 109044894 49711 49711 1616898 1616898 138259305 118863982 14396822 4998501 9150261 7621045 1207824 321392 19326311 16186661 2335520 804130 9209596 7829717 1040957 338922 12483 12062 369 52 272287 14456 241244 16587 170574 23969 145595 1010 53512 7012 46500 163284 163284 2174969 980779 1194190 6040933 3866860 1905806 268267 1636838 1262772 303670 70396 6888823 4638846 2065010 184967 5057128 3376646 1574235 106247 24532523 23977677 493740 61106 6007429 5546927 327888 132614 2430980 2049096 338021 43863 134891 88908 43698 2285 17431861 15826005 1482971 122885 1531005 1114719 416251 35 ELECTRONIC LIBRARY 2261080 2261080 MEMBERSHIPS 1039251 554048 474750 10453 OTHER EQUIP & SUPPLIES 947097 908117 16982 21998 MEALS 642658 528437 26570 87651 7021857 7199500 -507632 329989 373975820 334701307 31187879 8086634 1065085 3480007 141102166 143155877 12644012 14621336 6995404 5665587 1862231 1647963 3100923 4184041 676418166 255273300 429567827 421144866 351483829 308302312 213003434 222038259 3385624 3182917 3595276 2665999 1167805811 1130089164 20972819 27372319 7448311 7953878 229499593 205697593 3176343 2961547 36278499 45913450 297375565 289898787 X 414108837 400573717 183415755 163658170 272905654 275958490 870430246 840190377 1167805811 1130089164 X -2213594 -27508877 -517398 X 0 1 X 1 1 1 X 35250478 50757008 26967699 25200546 26426682 164602413 35250478 50757008 26967699 25200546 26426682 164602413 15482565 149119848 4250652 4587468 5585030 6139313 5714758 26277221 413591 917289 265136 1596016 8713116 8057119 7936517 7253988 8677915 40638655 233114305 1551112244 0.63970 0.63980 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2011 AMOUNT: $ 8,713,116. 2012 AMOUNT: $ 8,057,119. 2013 AMOUNT: $ 7,936,517. 2014 AMOUNT: $ 7,253,988. 2015 AMOUNT: $ 8,677,915. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 1 0 0 0 0 1 244938 0 0 244938 0 PART II-B, LINE 1: DURING THE FISCAL YEAR 2016, THE UNIVERSITY OF ST. THOMAS RETAINED THE SERVICES OF NORTH STATE ADVISORS AND ASSOCIATES OF MINNEAPOLIS TO REPRESENT THE UNIVERSITY'S INTERESTS WITH THE CITY OF MINNEAPOLIS. THE UNIVERSITY PAID NORTH STATE ADVISORS $16,500 IN FY16. DURING THE FISCAL YEAR 2016, THE UNIVERSITY RETAINED THE SERVICES OF LOCKRIDGE GRINDAL NAUEN TO REPRESENT THE UNIVERSITY'S INTERESTS IN WASHINGTON, D.C. THE UNIVERSITY PAID LOCKRIDGE GRINDAL NAUEN $30,000 IN FY16. DURING THE FISCAL YEAR 2016 THE UNIVERSITY RETAINED THE SERVICES OF GOFF PUBLIC, INC. TO REPRESENT THE UNIVERSITY'S INTERESTS IN THE STATE OF MINNESOTA. THE UNIVERSITY PAID GOFF PUBLIC, INC. $7,012 IN FY16. THE UNIVERSITY OF ST. THOMAS IS A MEMBER OF MINNESOTA PRIVATE COLLEGE COUNCIL (MPCC), AN ORGANIZATION DESCRIBED IN SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE. MPCC IS AN ASSOCIATION OF PRIVATE NONPROFIT INSTITUTIONS OF HIGHER EDUCATION THAT SERVES A VARIETY OF ITS MEMBERS' SHARED NEEDS, INCLUDING, BUT NOT ONLY, NONPARTISAN AND NON-ELECTORAL ADVOCACY FOR PUBLIC POLICY THAT MEETS STUDENTS' NEEDS AND ADVANCES THE INTERESTS OF PRIVATE HIGHER EDUCATION. THE UNIVERSITY OF ST. THOMAS PAID MEMBERSHIP DUES TO MPCC IN THE AMOUNT OF $262,587 DURING THE TAXABLE YEAR. MPCC HAS DIVIDED ITS EXPENSES FOR ITS TAXABLE YEAR ENDING JUNE 30, 2016, INTO TWO GROUPS. GROUP 1 CONSISTS OF THOSE EXPENSES THAT DID NOT IN ANY WAY SUPPORT ATTEMPTS TO INFLUENCE LEGISLATION WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("LOBBYING"), AND GROUP 2 CONSISTS OF ALL OTHER EXPENSES. GROUP 2 INCLUDES MANY EXPENSES, SUCH AS PERSONNEL COSTS, THAT SUPPORTED BOTH LOBBYING AND NONLOBBYING ACTIVITIES. MPCC DID NOT ATTEMPT TO ALLOCATE THE GROUP 2 EXPENSES BETWEEN LOBBYING AND NONLOBBYING ACTIVITIES. MPCC HAS DETERMINED THAT THE AMOUNT OF THE GROUP 2 EXPENSES REPRESENTS 72.90% OF THE AMOUNT OF THE DUES THAT MPCC COLLECTED IN THE SAME TAXABLE YEAR. ASSUMING THAT ALL GROUP 2 EXPENSES WERE PAID FROM MEMBER DUES, AND ALLOCATING THOSE EXPENSES PRO RATA BASED ON THE DUES PAID BY EACH MEMBER, $191,426 OF THE UNIVERSITY OF ST. THOMAS' DUES WERE USED TO PAY GROUP 2 EXPENSES. THE AMOUNT OF LOBBYING EXPENSES PAID FROM THE UNIVERSITY OF ST. THOMAS' DUES WAS SIGNIFICANTLY LESS THAN THAT AMOUNT. 27439 6490981 X X X X X USED IN PUBLICATION 0 0 1 X 468496969 8895211 -12856980 3993887 13062629 447478684 495499932 -16071423 2959220 3675547 10215213 468496969 440994846 11108133 57221183 3675547 10148683 495499932 407097217 13447228 37069717 3737826 12881490 440994846 408467546 18748868 -6506226 2955040 10657931 407097217 0.19340 0.61670 0.18990 0 0 36886486 36886486 493987498 141337997 352649501 10453038 6008670 4444368 71281582 57351234 13930348 63809562 50575399 13234163 421144866 4400000 F REAL ESTATE FUNDS 43848473 F HEDGE FUNDS 109836362 F PRIVATE EQUITY 47759314 F FOREIGN EQUITY 16194110 F 222038259 ANNUITY OBLIGATIONS 6315917 ASSET RETIREMENT OBLIGATIONS 3869088 DEFERRED TAX LIABILITY 2416092 INTEREST RATE SWAP 2497845 OTHER LIABILITIES 25829009 PLEDGE PAYABLE 592433 STUDENT LOAN ADVANCES 4393066 45913450 X 244866713 -27508877 412719 9051406 -18044752 262911465 108850761 108850761 371762226 275106582 412719 9051406 9464125 265642457 108333363 108333363 373975820 PART III, LINE 4: THE UNIVERSITY OF ST. THOMAS HOLDS TWO COLLECTIONS OF ARTWORK. THE ASMAT ART AND ARTISTS COLLECTION CONSTITUTES ONE OF THE MOST COMPREHENSIVE COLLECTIONS OF ASMAT ART IN THE UNITED STATES. LOCATED ON THE ST. PAUL CAMPUS IT PROVIDES STUDENTS, FACULTY, STAFF AND SURROUNDING COMMUNITIES WITH OPPORTUNITIES TO LEARN ABOUT TRADITIONAL ASMAT CULTURE, CONTEMPORARY CHALLENGES FOR ASMAT ARTISTS, AND ONGOING OPPORTUNITIES ASMAT ARTISTS HAVE FOR PRESENTING THEIR WORK. THE UNIVERSITY OF ST. THOMAS COLLECTION COMPRISES OVER 1,000 OBJECTS, INCLUDING PAINTINGS, SCULPTURES, DECORATIVE ARTS, STAINED GLASS, AND TEXTILES. MANY OF THESE WORKS ARE ON DISPLAY IN PUBLIC AREAS OF THE LIBRARIES, OFFICES, CLASSROOMS, DORMITORIES, SEMINARY BUILDINGS, AND THE STUDENT CENTER; AND IN VARIOUS OUTDOOR SETTINGS. SEVERAL AREAS, SUCH AS THE SCULPTURE GARDEN OF THE O'SHAUGHNESSY-OWENS SCIENCE COMPLEX, AND THE BERNARDI CAMPUS IN ROME, HAVE NOTEWORTHY ENSEMBLES. MANY WORKS OF ART ARE USED DIRECTLY FOR TEACHING PURPOSES IN THE ART HISTORY CLASSROOM, AS WELL AS SPECIALIZED SETTINGS SUCH AS THE LUANN DUMMER CENTER FOR WOMEN. OTHER PLAY A DIRECT ROLE IN WORSHIP AND MEDITATION. PART IV, LINE 2B: THE UNIVERSITY OF ST. THOMAS ADMINISTERS THE INVESTMENTS OWNED BY OTHER NON-PROFIT ORGANIZATIONS. THOSE ORGANIZATIONS DELEGATE THE AUTHORITY TO DIRECT THE INVESTMENT OF THEIR INVESTMENT FUNDS TO THE UNIVERSITY. THESE INVESTMENTS FUNDS ARE INVESTED BY THE UNIVERSITY ALONG WITH THE UNIVERSITY'S INVESTMENT FUNDS, BASED ON THE ADVICE RECEIVED FROM THE UNIVERSITY'S THIRD PARTY INVESTMENT ADVISOR AND INVESTMENT COMMITTEE OF THE BOARD. THE UNIVERSITY DOES NOT PROVIDE ANY INDEPENDENT INVESTMENT ADVICE. THE OTHER ORGANIZATIONS AGREE TO ACCEPT THE ADVICE FROM THE UNIVERSITY'S INVESTMENT ADVISOR AND DO NOT HAVE THE RIGHT TO SELF-DIRECT THE INVESTMENT OF THEIR INVESTMENT FUNDS. THE OTHER ORGANIZATIONS' INVESTMENT FUNDS ARE COMMINGLED WITH AND INVESTED AS A PART OF THE UNIVERSITY'S INVESTMENT FUNDS, IN THE SAME INVESTMENT VEHICLES AND ALLOCATION PERCENTAGES, AS THE UNIVERSITY'S INVESTMENT FUNDS. PART V, LINE 4: THE UNIVERSITY'S ENDOWMENT IS USED FOR STUDENT FINANCIAL AID, INSTRUCTION AND OTHER RELATED ACTIVITIES, AND EDUCATIONAL AND GENERAL OPERATING. PART X, LINE 2: THE UNIVERSITY QUALIFIES AS A TAX-EXEMPT NONPROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SIMILAR STATUTES OF MINNESOTA LAW. HOWEVER, ANY UNRELATED BUSINESS INCOME MAY BE SUBJECT TO TAXATION. THE MOST SIGNIFICANT AREAS THAT SUBJECT THE UNIVERSITY TO UNRELATED BUSINESS INCOME TAX (UBIT) INCLUDE CONFERENCES AND EVENTS, RENTAL ACTIVITIES, EARNINGS FROM CERTAIN ALTERNATIVE INVESTMENTS AND OTHER UNRELATED INCOME. REALIZATION OF THE NOL CARRYFORWARDS AND OTHER DEFERRED TAX TEMPORARY DIFFERENCES ARE CONTINGENT ON FUTURE TAXABLE INCOME. THE DEFERRED TAX ASSET WAS REVIEWED FOR EXPECTED UTILIZATION USING A "MORE LIKELY THAN NOT" APPROACH BY ASSESSING THE AVAILABLE POSITIVE AND NEGATIVE EVIDENCE SURROUNDING ITS RECOVERABILITY. DURING 2008, THE UNIVERSITY RECEIVED A DONATED ASSET OF $8,220,000 THAT HAS BUILT-IN APPRECIATION SUBJECT TO FEDERAL INCOME TAX. BASED UPON THIS EXPECTED TAX LIABILITY ALONG WITH THE ESTIMATED TAXABLE INCOME TO BE GENERATED BY THIS ASSET, MANAGEMENT HAS DETERMINED THAT THE FULL AMOUNT OF THE DEFERRED TAX ASSET IS MORE LIKELY THAN NOT TO BE UTILIZED. THE UNIVERSITY HAS ADOPTED THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. NO LIABILITY WAS RECOGNIZED AS A RESULT OF THE IMPLEMENTATION OF THIS STANDARD. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSE 122,769. COST OF GOODS SOLD 8,928,637. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 108,850,761. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSE 122,769. COST OF GOODS SOLD 8,928,637. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 108,850,761. NET UNREALIZED GAIN ON INTEREST RATE SWAP -517,799. CHANGE IN DEFERRED TAX ASSET 401. 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 UNIVERSITY PUBLISHES ITS NON-DISCRIMINATION POLICY IN LOCAL PAPERS AND BROADCAST MEDIA, AS WELL AS ON ITS WEBSITE, IN ENROLLMENT MATERIALS, AND IN THE EMPLOYEE HANDBOOK. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY OF ST. THOMAS RECEIVES PRIMARILY TITLE IV FUNDING FROM THE DEPARTMENT OF EDUCATION (I.E., PELL, PERKINS, WORKSTUDY, FEDERAL DIRECT LENDING, AND SEOG). 1 CENTRAL AMERICA & THE CARIBBEAN 0 0 INVESTMENTS N/A 99078021 EUROPE 0 0 INVESTMENTS N/A 19772352 NORTH AMERICA 0 0 INVESTMENTS N/A 14284327 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES J-TERM STUDY ABROAD COURSES 2759 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES SUMMER STUDY ABROAD COURSES 2647 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES VISION TRIP 843 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES RECRUITMENT 1588 EAST ASIA & PACIFIC 0 0 PROGRAM SERVICES STUDY ABROAD AID 12212 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES CONFERENCES 2650 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES RECRUITMENT 17030 EUROPE 0 0 PROGRAM SERVICES SEMESTER STUDY ABROAD COURSES 45942 EUROPE 0 0 PROGRAM SERVICES SEMESTER STUDY ABROAD COURSES 50082 EUROPE 0 0 PROGRAM SERVICES J-TERM STUDY ABROAD COURSES 8714 EUROPE 1 7 PROGRAM SERVICES BERNARDI CAMPUS 524301 EUROPE 0 0 PROGRAM SERVICES SUMMER STUDY ABROAD COURSES 19106 EUROPE 0 0 PROGRAM SERVICES SUMMER STUDY ABROAD COURSES (GRAD) 37096 EUROPE 0 0 PROGRAM SERVICES EXECUTIVE MBA 2033 EUROPE 0 0 PROGRAM SERVICES EXECUTIVE MBA 5758 EUROPE 0 0 PROGRAM SERVICES SOD - ROME 87523 EUROPE 0 0 PROGRAM SERVICES SOD - ENGLAND 30626 EUROPE 0 0 PROGRAM SERVICES CONFERENCES 5513 EUROPE 0 0 PROGRAM SERVICES VISION TRIP 7961 EUROPE 0 0 PROGRAM SERVICES RECRUITMENT 18265 EUROPE 0 0 GRANT WORK HISTORY PROJECT 9417 EUROPE 0 0 GRANT WORK MODERN & CLASSICAL LANGUAGES 419 EUROPE 0 0 PROGRAM SERVICES STUDY ABROAD AID 32979 MIDDLE EAST & N. AFRICA 0 0 PROGRAM SERVICES SOD - JERUSALEM 120096 MIDDLE EAST & N. AFRICA 0 0 PROGRAM SERVICES RECRUITMENT 818 MIDDLE EAST & N. AFRICA 0 0 PROGRAM SERVICES STUDY ABROAD AID 4061 NORTH AMERICA 0 0 PROGRAM SERVICES SUMMER STUDY ABROAD COURSES 2629 NORTH AMERICA 0 0 PROGRAM SERVICES CONFERENCES 2177 NORTH AMERICA 0 0 PROGRAM SERVICES RECRUITMENT 982 NORTH AMERICA 0 0 GRANT WORK MODERN & CLASSICAL LANGUAGES 674 RUSSIA AND NEIGHBORING COUNTRIES 0 0 PROGRAM SERVICES CONFERENCES 165018 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD AID 460 SOUTH ASIA 0 0 PROGRAM SERVICES EXECUTIVE MBA 6257 SOUTH ASIA 0 0 PROGRAM SERVICES VISION TRIP 3762 SOUTH ASIA 0 0 PROGRAM SERVICES RECRUITMENT 4333 0 0 1 7 1 7 133154749 1216682 134371431 INSTITUTIONAL AID EAST ASIA AND THE PACIFIC 1 9728 STUDENT ACCOUNT 0 N/A N/A RESTRICTED AID EAST ASIA AND THE PACIFIC 2 2484 STUDENT ACCOUNT 0 N/A N/A INSTITUTIONAL AID EUROPE 4 9865 STUDENT ACCOUNT 0 N/A N/A RESTRICTED AID EUROPE 17 23114 STUDENT ACCOUNT 0 N/A N/A INSTITUTIONAL AID MIDDLE EAST AND NORTH AFRICA 1 4060 STUDENT ACCOUNT 0 N/A N/A RESTRICTED AID SOUTH AMERICA 1 460 STUDENT ACCOUNT 0 N/A N/A 1 0 1 1 1 1 PART I, LINE 2: STUDENT FINANCIAL AID IS PROCESSED UNDER INDIVIDUAL GRANT FUNDS WITHIN OUR ACCOUNTING SYSTEM, AND THE STUDENT FINANCIAL AID IS ALSO PROCESSED UNDER EACH INDIVIDUAL STUDENT ACCOUNT. THIS APPROACH TO RECORD FINANCIAL AID BY FUND AND BY STUDENT ACCOUNT, PROVIDES A DETAILED RECORD OF HOW THE FUNDS ARE SPENT ACCORDING TO DONOR AND GOVERNMENTAL REQUIREMENTS. THE FINANCIAL AID OFFICE MONITORS STUDENT ACCOUNT ACTIVITY TO VERIFY THE STUDENT'S ENROLLMENT AND USE OF THE FUNDS ACCORDING TO THE GRANT REQUIREMENTS. PART I, LINE 3: THE UNIVERSITY USES THE ACCRUAL METHOD OF ACCOUNTING TO REPORT EXPENDITURES ON SCHEDULE F. X X X X X X X 1 RUFFALO NOEL LEVITZ PO BOX 3018 CEDAR RAPIDS IA 52406 TELEMARKETING COORDINATOR 0 476273 160000 316273 476273 160000 316273 AK AL AR CA CO CT FL GA HI IL KS KY ME MD MA MI MN MS MO NH NJ NM NY NC ND OH OR OK PA RI SC TN UT VA WA WV WI SD DC ENTREPRENUR'S DINNER 31500 30980 520 9786 23763 FOOTBALL GOLF 13000 3305 9695 16797 6 161017 92085 68932 65094 7329 205517 126370 79147 74880 47889 122769 -43622 1 CENTER FOR ETHICAL BUSINESS CULTURES 1000 LASALLE AVE TMH 331 MINNEAPOLIS MN 55403 411431488 501(C)(3) 714803 0 N/A N/A GENERAL SUPPORT LOAVES AND FISHES 1121 JACKSON ST NE SUITE 143 MINNEAPOLIS MN 55413 411421522 501(C)(3) 5400 0 N/A N/A GENERAL SUPPORT LOAN REPAYMENT ASSISTANCE PROG OF MINNESOTA 600 NICOLLET MALL MINNEAPOLIS MN 55402 411694745 501(C)(3) 6000 0 N/A N/A GENERAL SUPPORT MACALESTER-GROVELAND COMMUNITY COUNCIL 320 S GRIGGS ST ST PAUL MN 55105 411414691 501(C)(3) 10250 0 N/A N/A GENERAL SUPPORT MINNESOTA JUSTICE FOUNDATION 229 19TH AVE S MINNEAPOLIS MN 55455 411447537 501(C)(3) 28940 0 N/A N/A PUBLIC SERVICE PROGRAM PRODEO ACADEMY 1555 40TH AVE NE MINNEAPOLIS MN 55421 800743744 501(C)(3) 15000 0 N/A N/A GENERAL SUPPORT ST CATHERINE UNIVERSITY 2004 RANDOLPH AVE ST PAUL MN 55105 410695509 501(C)(3) 6680 0 N/A N/A GENERAL SUPPORT TIX FOR TOTS PO BOX 4086 ST PAUL MN 55104 412020944 501(C)(3) 6000 0 N/A N/A GENERAL SUPPORT UNION PARK DISTRICT COUNCIL 1570 CONCORDIA AVE ST PAUL MN 55104 411434829 501(C)(3) 10250 0 N/A N/A GENERAL SUPPORT 9 0 INSTITUTIONAL AID 8790 96870357 0 N/A N/A INSTITUTIONAL EXEMPTIONS 2675 5990407 0 N/A N/A RESTRICTED AID 2198 5941253 0 N/A N/A STUDENT STIPENDS 107 108406 0 N/A N/A STUDENT STIPEND-LIVING 23 67520 0 N/A N/A STUDENT STIPENDS - NOTETAKERS 65 4350 0 N/A N/A STUDENT PRIZES & AWARDS 979 62601 0 N/A N/A PART I, LINE 2: AS GIFTS AND GRANTS ARE RECEIVED, INDIVIDUAL FUNDS ARE ESTABLISHED IN OUR GENERAL LEDGER SYSTEM TO PROCESS THE GRANT REVENUE AND EXPENSE. A FINANCIAL MANAGER IS ASSIGNED TO REVIEW AND OVERSEE THE ACTIVITY OF THE FUND. IN ADDITION, OTHER ADMINISTRATIVE DEPARTMENTS ALSO PROVIDE SERVICES TO PROCESS, REPORT AND REVIEW THE GRANT INFORMATION. IN THE CASE OF PRIVATE GRANTS, THE UNIVERSITY FOLLOWS A FORMALIZED GRANT APPLICATION PROCESS TO VERIFY THAT THE UNIVERSITY UNDERSTANDS THE GRANT OBLIGATION AND PURPOSE BEFORE THE APPLICATION IS SENT TO THE GRANTOR ORGANIZATION. MANY PRIVATE AND GOVERNMENT GRANTS ARE RECEIVED FOR STUDENT FINANCIAL AID. OUR ENROLLMENT SERVICES DEPARTMENT FOLLOWS A DETAILED POLICY AND PROCEDURES MANUAL THAT DESCRIBES HOW EACH SCHOLARSHIP IS AWARDED, INCLUDING SELECTION CRITERIA. THESE PROCEDURES FOLLOW GUIDELINES SET BY THE UNIVERSITY'S SENIOR LEADERSHIP. STUDENT FINANCIAL AID IS PROCESSED UNDER INDIVIDUAL GRANT FUNDS WITHIN OUR ACCOUNTING SYSTEM (AS DESCRIBED ABOVE), AND THE STUDENT FINANCIAL AID IS ALSO PROCESSED UNDER EACH INDIVIDUAL STUDENT ACCOUNT. THIS APPROACH TO RECORD FINANCIAL AID BY FUND AND BY STUDENT ACCOUNT, PROVIDES A DETAILED RECORD OF HOW THE FUNDS ARE SPENT ACCORDING TO DONOR AND GOVERNMENTAL REQUIREMENTS. THE FINANCIAL AID OFFICE MONITORS STUDENT ACCOUNT ACTIVITY TO VERIFY THE STUDENT'S ENROLLMENT AND USE OF THE FUNDS ACCORDING TO THE GRANT REQUIREMENTS. GRANTS ARE PROVIDED TO ESTABLISHED ORGANIZATIONS THAT ARE EDUCATIONAL AND/OR CHARITABLE AND THE UNIVERSITY IS IN CONTACT WITH THOSE ORGANIZATIONS TO ENSURE THE GRANTS FUNDS ARE EXPENDED APPROPRIATELY. X X X 1 1 X X X 0 1 0 0 0 0 0 0 0 JULIE SULLIVAN PRESIDENT 553267 0 50000 0 25309 0 48410 0 38166 0 715152 0 0 0 SARA GROSS METHNER GENERAL COUNSEL & SECRETARY 202211 0 0 0 18751 0 21645 0 25109 0 267716 0 0 0 MARK VANGSGARD CFO 236332 0 0 0 25461 0 23360 0 21425 0 306578 0 0 0 RICHARD PLUMB EVP & PROVOST 332393 0 0 0 23100 0 21452 0 27359 0 404304 0 0 0 STEFANIE LENWAY DEAN, OPUS COLLEGE OF BUSINESS 365139 0 0 0 24366 0 21030 0 11876 0 422411 0 0 0 MICHAEL PAULSEN LAW PROFESSOR 322857 0 0 0 10366 0 24910 0 22469 0 380602 0 0 0 DANIEL MEYER VP FOR ENROLLMENT MANAGEMENT 266108 0 0 0 8389 0 10694 0 20172 0 305363 0 0 0 DAVID DEEDS PROFESSOR OF ENTREPRENEURS 273534 0 0 0 231 0 23584 0 55092 0 352441 0 0 0 JOHN OLSON PROFESSOR OF SUPPLY CHAIN MANAGEMENT 286576 0 0 0 6903 0 14154 0 7736 0 315369 0 0 0 PART I, LINE 1A THE PRESIDENT IS REQUIRED TO LIVE IN UNIVERSITY OWNED HOUSING. THE UNIVERSITY PROVIDES CLEANING AND MAINTENANCE SERVICES FOR THIS HOUSING. THE HOUSING BENEFIT IS NOT TAXABLE PURSUANT TO IRC SECTION 119 AS IT IS A CONDITION OF THE PRESIDENT'S EMPLOYMENT AT THE UNIVERSITY. THE UNIVERSITY HAS PURCHASED A CLUB MEMBERSHIP, WHICH IS A TAXABLE BENEFIT TO THE PRESIDENT TO THE EXTENT OF PERSONAL USE. PART I, LINE 4B JULIE SULLIVAN PARTICIPATED IN A 457(F) SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN - $5,500. A MN HIGHER ED FACILITIES AUTHORITY 410988525 2012-05-30 12300000 SEE PART VI 0 0 0 B MN HIGHER ED FACILITIES AUTHORITY 410988525 60416HB78 2013-03-28 29327034 SEE PART VI 0 0 0 C MN HIGHER ED FACILITIES AUTHORITY 410988525 2012-05-30 15325000 SEE PART VI 0 0 0 D MN HIGHER ED FACILITIES AUTHORITY 410988525 60416HNZ3 2008-12-16 18157074 SEE PART VI 1 0 0 A 500000 12300000 12300000 2012 1 0 1 1 B 3710000 29327034 209634 29105000 2013 1 0 1 1 C 4580000 15325000 15325000 2012 1 0 1 1 D 3130000 15680000 18341183 16 466482 257451 16500617 2009 0 0 1 1 A 0 0 0 0 0.00000 0.00540 0.00540 0 0 1 B 0 1 0 0 0.00000 0.00550 0.00550 0 0 1 C 0 0 0 0 0.00000 0.00360 0.00360 0 0 1 D 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 1 0 0 0 0 B 0 0 1 0 0 0 0 0 0 C 0 0 1 0 1 0 0 0 0 D 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 D 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: MN HIGHER ED FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 11/25/2013 ISSUER NAME: MN HIGHER ED FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 04/01/2014 ISSUER NAME: MN HIGHER ED FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 10/03/2014 SCHEDULE K, PART I, COLUMN A: REFUND ISSUE DATED 2/16/2006. SCHEDULE K, PART I, COLUMN B: REFUND ISSUES DATED 8/19/2004 & 4/25/2002. SCHEDULE K, PART I, COLUMN C: REFUND ISSUES DATED 10/28/1999 & 9/25/1997. SCHEDULE K, PART I, COLUMN A2: CONSTRUCTION AND EQUIPPING OF A FIVE LEVEL BELOW- AND ABOVE-GROUND PARKING FACILITY WITH APPROXIMATELY 725 PARKING STALLS FOR STUDENTS, FACULTY, AND VISITORS. SCHEDULE K, PART I, COLUMN B2: CONSTRUCTION AND EQUIPPING OF A THREE-LEVEL, APPROXIMATELY 180,000 SQUARE FOOT ATHLETIC AND RECREATION COMPLEX FOR STUDENTS, FACULTY, AND STAFF TO BE KNOWN AS ANDERSON ATHLETIC AND RECREATION COMPLEX. SCHEDULE K, PART I, COLUMN C2: CONSTRUCTION, EQUIPPING AND FURNISHING OF A THREE-LEVEL (PLUS BASEMENT), APPROXIMATELY 218,000 SQUARE FOOT STUDENT CENTER TO BE KNOWN AS ANDERSON STUDENT CENTER, CONSTRUCTION AND EQUIPPING OF OUTDOOR TENNIS COURTS, AND RENOVATIONS TO MCCARTHY GYM. SCHEDULE K, PART I, COLUMN D2: REFUND ISSUE DATED 8/19/2004. SCHEDULE K, PART I, COLUMN E2: REFUND ISSUE DATED 12/16/08 & 06/17/09. SCHEDULE K, PART II, LINE 3: THE DIFFERENCE FROM PART I(E) IS DUE TO INVESTMENT EARNINGS. SCHEDULE K, PART I, COLUMN F2: REFUND ISSUE DATED 02/16/2006. A MN HIGHER ED FACILITIES AUTHORITY 410988525 60416HPM0 2009-06-17 58615252 SEE PART VI 1 0 0 B MN HIGHER ED FACILITIES AUTHORITY 410988525 60416HQH0 2009-12-16 79577457 SEE PART VI 0 0 0 C MN HIGHER ED FACILITIES AUTHORITY 410988525 2014-03-14 24210000 SEE PART VI 0 0 0 D MN HIGHER ED FACILITIES AUTHORITY 410988525 60416HV43 2016-03-09 63325215 SEE PART VI 0 0 0 A 7700000 49265000 59099321 46 3640128 732488 50285496 2010 0 0 1 1 B 8730000 80593537 5381413 4750583 808609 68978700 2012 0 0 1 1 C 4402407 24210000 136888 24073112 2014 0 1 1 1 D 63325217 62950333 364074 2016 0 1 1 1 A 0 0 0 0 0.00000 0.03470 0.03470 0 0 1 B 0 0 0 0 0.00000 0.01400 0.01400 0 0 1 C 0 0 0 0 0.00000 0.01350 0.01350 0 0 1 D 0 0 0 0 0.00000 0.02620 0.02620 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 1 0 0 0 0 0 1 D 0 0 1 0 0 0 0 0 1 A 1 B 1 C 1 D 1 A MN HIGHER ED FACILITIES AUTHORITY 410988525 60416HW26 2016-03-06 16887704 SEE PART VI 0 0 0 A 16887704 142580 16744057 2016 1 0 1 1 A 0 0 0 0 0.00000 0.00170 0.00170 0 0 1 A 0 0 1 0 0 0 0 0 1 A 1 45743 SCHOLARSHIPS ACADEMIC RYAN COMPANIES US SEE PART V 694941 CONSTRUCTION SERVICES 0 OPUS HOLDINGS LLC SEE PART V 701436 CONSTRUCTION SERVICES 0 SCH L, PART III, GRANTS OR ASSISTANCE BENEFITTING INTERESTED PERSONS: ISSUANCE OF ACADEMIC SCHOLARSHIPS TO FAMILY MEMBERS OF EMPLOYEES AND TRUSTEES IS DETERMINED ON THE SAME BASIS AND CRITERIA FOR ALL STUDENTS AT THE UNIVERSITY. SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: AMY GOLDMAN HAS A FAMILY MEMBER WHO HAS A BENEFICIAL INTEREST IN OPUS HOLDINGS, LLC, WHICH PROVIDES CONSTRUCTION SERVICES TO THE UNIVERSITY.PATRICK RYAN IS AN OWNER OF RYAN COMPANIES US, WHICH PROVIDES CONSTRUCTION AND DESIGN SERVICES TO THE UNIVERSITY. X 4 27439 ESTIMATED VALUE X 2151 ESTIMATED VALUE X 3819 ESTIMATED VALUE X 61 527254 STOCK MARKET QUOTES X 1 1000 ESTIMATED VALUE X OTHER 117 57691 ESTIMATED VALUE X INSURANCE PREMIUM 5 3141 ESTIMATED VALUE 1 0 1 0 PART I, COLUMN (B): THE UNIVERSITY REPORTS THE NUMBER OF CONTRIBUTORS ON PART I, COLUMN B. FORM 990, PART I, LINE 1, DESCRIPTION OF MOST SIGNIFICANT ACTIVITIES: INSPIRED BY CATHOLIC INTELLECTUAL TRADITION, THE UNIVERSITY OF ST. THOMAS EDUCATES STUDENTS TO BE MORALLY RESPONSIBLE LEADERS WHO THINK CRITICALLY, ACT WISELY AND WORK SKILLFULLY TO ADVANCE THE COMMON GOOD. FORM 990, PART III, LINE 1 FOUNDED IN 1885, THE UNIVERSITY OF ST. THOMAS IS A CATHOLIC UNIVERSITY BASED IN THE TWINS CITIES OF ST. PAUL AND MINNEAPOLIS. THE LARGEST PRIVATE UNIVERSITY IN MINNESOTA, ST. THOMAS OFFERS BACHELOR'S DEGREES IN OVER 85 MAJOR FIELDS OF STUDY AND MORE THAN 45 GRADUATE DEGREE PROGRAMS INCLUDING MASTER'S, EDUCATION SPECIALIST, JURIS DOCTOR AND DOCTORATES. MISSION: INSPIRED BY CATHOLIC INTELLECTUAL TRADITION, THE UNIVERSITY OF ST. THOMAS EDUCATES STUDENTS TO BE MORALLY RESPONSIBLE LEADERS WHO THINK CRITICALLY, ACT WISELY AND WORK SKILLFULLY TO ADVANCE THE COMMON GOOD. VISION: THE UNIVERSITY OF ST. THOMAS, A CATHOLIC COMPREHENSIVE URBAN UNIVERSITY, IS KNOWN NATIONALLY FOR ACADEMIC EXCELLENCE THAT PREPARES STUDENTS FOR THE COMPLEXITIES OF THE CONTEMPORARY WORLD. THROUGH DISCIPLINARY AND INTERDISCIPLINARY INQUIRY AND DEEP INTERCULTURAL UNDERSTANDING, WE INSPIRE STUDENTS TO LEAD, WORK AND SERVE WITH THE SKILL AND EMPATHY VITAL TO CREATING A BETTER WORLD. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE IS COMPRISED OF ALL THE CHAIRS OF THE VARIOUS BOARD COMMITTEES, THE PRESIDENT OF THE UNIVERSITY OF ST. THOMAS, AND OTHERS ELECTED BY THE BOARD AFFAIRS COMMITTEE. ALL OF THE EXECUTIVE COMMITTEE MEMBERS ARE MEMBERS OF THE UNIVERSITY'S BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE HAS THE RIGHT TO ACT ON BEHALF OF THE BOARD OF TRUSTEES IN ANY MATTER THAT THE BOARD ITSELF COULD ADDRESS. FORM 990, PART VI, SECTION A, LINE 2 BRIAN WENGER AND PAT RYAN - BUSINESS RELATIONSHIP WILLIAM REILING AND MARK GREGG - BUSINESS RELATIONSHIP FORM 990, PART VI, SECTION A, LINE 7A THREE OF THE UNIVERSITY'S TRUSTEES SHALL BE NOMINATED BY THE SAINT PAUL SEMINARY AND ELECTED BY THE BOARD OF TRUSTEES IN ACCORDANCE WITH AN AFFILIATION AGREEMENT BETWEEN THE UNIVERSITY AND THE SEMINARY. FORM 990, PART VI, SECTION B, LINE 11 A FULL DRAFT PUBLIC INSPECTION COPY OF THE FORM 990 AND FORM 990-T ARE SENT TO ALL MEMBERS OF THE BOARD OF TRUSTEES. AN EXECUTIVE SUMMARY OF THE RETURNS IS ALSO PROVIDED. THE BOARD MEMBERS HAVE APPROXIMATELY ONE WEEK TO REVIEW THE RETURN AND EMAIL COMMENTS OR QUESTIONS. AFTER TAKING INTO ACCOUNT THE BOARD QUESTIONS AND COMMENTS, THE RETURN IS PRESENTED TO THE AUDIT/FINANCE COMMITTEE FOR APPROVAL. THE FULL BOARD OF TRUSTEES DELEGATED APPROVAL AUTHORITY OF THE TAX RETURN TO THE AUDIT/FINANCE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C ALL TRUSTEES, OFFICERS, KEY EMPLOYEES AND THE FIVE HIGHEST PAID EMPLOYEES OF THE UNIVERSITY ARE REQUESTED TO FILE AN ANNUAL DISCLOSURE STATEMENT AND REPORT ANY KNOWN CONFLICTS OF INTEREST. THIS DISCLOSURE STATEMENT MUST BE COMPLETED AT THE TIME OF APPOINTMENT AND THEN ANNUALLY ON OR BEFORE OCTOBER 31. THE DISCLOSURE REQUIRES THE INDIVIDUALS TO NOTE KNOWN AND POTENTIAL RELATIONSHIPS OR TRANSACTIONS WHICH MAY GIVE RISE TO CONFLICT. TRUSTEES AND OFFICERS ALSO ARE REQUESTED TO NOTIFY THE VICE PRESIDENT FOR BUSINESS AFFAIRS IMMEDIATELY IF A CHANGE IN HIS OR HER DISCLOSURE STATEMENT OCCURS DURING THE YEAR. THE UNIVERSITY REVIEWS THE FORMS AND ANY IDENTIFIED CONFLICTS ARE MONITORED TO ENSURE COMPLIANCE WITH THE POLICY. ALL CONTRACTS, AGREEMENTS, OR ARRANGEMENTS THAT HAVE THE POTENTIAL FOR A FINANCIAL OR OTHER TYPE OF CONFLICT OF INTEREST ARE REVIEWED AND APPROVED BY THE APPROPRIATE GROUP, AS LAID OUT IN OUR POLICY. AN INTERESTED PERSON RECUSES HIM OR HERSELF FROM THE DECISION-MAKING PROCESS, INCLUDING REMOVING HIM OR HERSELF FROM ANY DISCUSSIONS OR MEETINGS REGARDING THE POTENTIAL ARRANGEMENT. THOSE WITHOUT AN INTEREST IN THE MATTER DECIDE WHETHER A CONTRACT, AGREEMENT, TRANSACTION, OR ARRANGEMENT IS FAIR REASONABLE AND IS IN THE BEST INTEREST OF THE UNIVERSITY. FORM 990, PART VI, SECTION B, LINE 15A TO DETERMINE PRESIDENT SULLIVAN'S INITIAL COMPENSATION AS PRESIDENT, THE BOARD OF TRUSTEES HIRED RICHARD MEISCHEID, MANAGING PARTNER OF PAY GOVERNANCE, TO WORK WITH THE UST HUMAN RESOURCE DEPARTMENT IN ESTABLISHING A LIST OF SCHOOLS WE COULD REFERENCE IN REGARDS TO COMPENSATION. THE LIST OF SCHOOLS WAS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD. RICHARD MEISCHEID PROVIDED ADDITIONAL COMPENSATION ANALYSIS AND RECOMMENDATIONS IN CONJUNCTION WITH THE BENCHMARK SCHOOL INFORMATION. OFFICER AND KEY EMPLOYEE COMPENSATION IS ESTABLISHED THROUGH AN ASSESSMENT OF THE CURRENT MARKET. A SALARY RANGE IS ESTABLISHED THROUGH THE VIEWING OF COMPARABLE POSITIONS/SALARY INFORMATION, AND THE APPROPRIATE TARGET SALARY IS SELECTED BEFORE A FINAL OFFER IS DIRECTED TO THE POTENTIAL HIRE. NEGOTIATIONS CAN TAKE PLACE TO DETERMINE THE FINAL SALARY. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY OF ST. THOMAS DOES NOT MAKE ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC. THE UNIVERSITY'S CONFLICT OF INTEREST POLICY IS ON THE UNIVERSITY'S WEBSITE AND IS ACCESSIBLE TO THE PUBLIC. THE UNIVERSITY'S FINANCIAL STATEMENTS ARE AVAILABLE BY REQUEST AND ARE ALSO AVAILABLE ON THE UNIVERSITY'S WEBSITE. FORM 990, PART XI, LINE 9: NET UNREALIZED GAIN ON INTEREST RATE SWAP -517,799. CHANGE IN DEFERRED TAX ASSET 401. 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