2016-12-20T16:59:17-06:00 2016-05-31 363168081 SIKICH LLP 1415 W DIEHL RD SUITE 400 NAPERVILLE IL 605632349 990 2015-06-01 362170999 UNIVERSITY OF ST FRANCIS UNIV 8157403372 500 WILCOX STREET JOLIET IL 604356188 JULEE GARD VP - ADMIN & FINANCE 8157403372 2016-12-05 1 BRYAN PAUTSCH P00034913 6305668400 2016-12-05 2015 2017-02-10 21:41:12Z ARVID C JOHNSON 500 WILCOX STREET JOLIET IL 604356188 90966702 0 0928 X WWW.STFRANCIS.EDU X 1920 IL HIGHER LEARNING INSTITUTION (POST SECONDARY EDUCATION) 32 31 1272 669 40013 -4756 4751856 7185625 63380525 63819804 488405 307392 815158 1177464 69435944 72490285 18315229 19845692 0 0 32708703 33103119 0 25415 746460 15931331 15429101 66955263 68403327 2480681 4086958 79186185 99102132 37514929 54634403 41671256 44467729 X AS A CATHOLIC UNIVERSITY ROOTED IN THE LIBERAL ARTS, WE ARE A WELCOMING COMMUNITY OF LEARNERS CHALLENGED BY FRANCISCAN VALUES AND CHARISM, ENGAGED IN A CONTINUOUS PURSUIT OF KNOWLEDGE, FAITH, WISDOM, AND JUSTICE, AND EVER MINDFUL OF A TRADITION THAT EMPHASIZES REVERENCE FOR CREATION, COMPASSION AND PEACEMAKING. WE STRIVE FOR ACADEMIC EXCELLENCE IN ALL PROGRAMS, PREPARING WOMEN AND MEN TO CONTRIBUTE TO THE WORLD THROUGH SERVICE AND LEADERSHIP. 0 0 34328892 19845692 59957090 INSTRUCTION AND FINANCIAL AID: THE CATHOLIC, FRANCISCAN UNIVERSITY OFFERS 45 BACCALAUREATE PROGRAMS, INCLUDING 3 ADULT UNDERGRADUATE MAJORS, 19 MASTER'S LEVEL PROGRAMS (ONSITE AND ONLINE CLASSES), 3 SUB-BACCALAUREATE CERTIFICATE PROGRAMS, 11 POST-BACCALAUREATE CERTIFICATE PROGRAMS, 3 POST-MASTERS CERTIFICATE PROGRAMS AND 2 DOCTORAL PROGRAMS. IN FISCAL YEAR 2016, THE UNIVERSITY SERVED 1668 UNDERGRADUATE AND 2289 POST-BACCALAUREATE STUDENTS. IN ADDITION, 99% OF TRADITIONAL UNDERGRADUATE STUDENTS AND 100% OF INCOMING FRESHMEN RECEIVED SOME FORM OF FINANCIAL AID. 10358789 STUDENT SERVICES: STUDENT SERVICES INCLUDE ADMISSIONS, INTERNATIONAL RECRUITING, WELCOME CENTER, FINANCIAL AID ADMINISTRATION, REGISTRAR, ATHLETICS, STUDENT ENGAGEMENT & LEADERSHIP, ORIENTATION, GRADUATION, CAREER SUCCESS CENTER, HEALTH & WELLNESS AND PERSONAL COUNSELING SERVICES, SUPPORT FOR STUDENTS WITH DISABILITIES, INSTITUTIONAL DIVERSITY, AND UNIVERSITY MINISTRY. IN FISCAL YEAR 2016, 408 STUDENT ATHLETES PARTICIPATED IN BASEBALL, BASKETBALL, BOWLING, CROSS COUNTRY, FOOTBALL, GOLF, SOCCER, SOFTBALL, CHEERLEADING, TENNIS, TRACK, AND VOLLEYBALL. 8771430 ACADEMIC SUPPORT: LIBRARY RESOURCES AND SERVICES, ACADEMIC RESOURCE CENTER, INSTITUTIONAL RESEARCH, STUDENT COMPUTER LABS, AND ACADEMIC TECHNOLOGY, AND DEANS OF EACH OF THE UNIVERSITY'S FOUR COLLEGES ARE INCLUDED IN THIS CATEGORY. THE LIBRARY'S COLLECTION INCLUDED 113,077 BOOKS AND OTHER PAPER DOCUMENTS, 21,237 VOLUMES OF SERIALS, 1,767 MICROFORMS, AND 9,573 AUDIOVISUAL MATERIALS. CONSISTENT WITH THE INDUSTRY, THE UNIVERSITY'S RESOURCES CONTINUE TO MOVE AWAY FROM PRINTED MATERIALS AND TOWARD ELECTRONIC RESOURCES AND SUBSCRIPTIONS. THE RESOURCES AT THE LIBRARY ASSIST STUDENTS IN ALL METHODS OF RESEARCH. 4203106 3822701 AUXILIARY ENTERPRISES: RESIDENCE EDUCATION, STUDENT HOUSING, FOOD SERVICES, THE BOOKSTORE, AND CONFERENCING SERVICES ARE INCLUDED IN AUXILIARY SERVICES. 385 STUDENTS FILLED STUDENT HOUSING TO 91% CAPACITY IN 2016. NEW MIX OF DINING OPTIONS AND MORE OPTIONS FOR STUDENTS WITH FOOD ALLERGIES WERE ADDED TO THE MENU DURING THE YEAR. FOOD SERVICES ARE PROVIDED TO STUDENTS, FACULTY AND STAFF 16 HOURS PER DAY. 4203106 3822701 57662217 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 1 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 1 0 0 0 1 123 0 1272 1 1 1 0 0 0 0 1 1 0 0 0 0 X 32 31 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X JULEE GARD 8157403371 500 WILCOX STREET JOLIET IL 605346188 ANTHONY ARELLANO TRUSTEE 4.00 X 0 0 0 ROBERT J BARON TRUSTEE 4.00 X 0 0 0 MARK D BASS TRUSTEE 4.00 X 0 0 0 DEWITT BUCHANAN TRUSTEE 4.00 X 0 0 0 MICHAEL DOWD TRUSTEE 4.00 X 0 0 0 CHRYSTEL L GAVLIN TRUSTEE 4.00 X 0 0 0 BRIAN GIEGERICH TRUSTEE 4.00 X 0 0 0 MARISUE GRABAVOY TRUSTEE 4.00 X 0 0 0 MARGARET E GUIDER OSF TRUSTEE 4.00 X 0 0 0 DIANE F HABIGER TRUSTEE 4.00 X 0 0 0 STEVEN HERNANDEZ TRUSTEE 4.00 X 0 0 0 SR MARYANN JERKOFSKY TRUSTEE 4.00 X 0 0 0 JAMES B LEWIS OCARM TRUSTEE 4.00 X 0 0 0 JOSEPH THOMAS MALLOF TRUSTEE 4.00 X 0 0 0 KARL MAURER TRUSTEE 4.00 X 0 0 0 CHERYL MCCARTHY TRUSTEE 4.00 X 0 0 0 CANDICE P ROSEN TRUSTEE 4.00 X 0 0 0 PARAMJIT SINGH SIDHU TRUSTEE 4.00 X 0 0 0 CHERYL STEPNEY TRUSTEE 4.00 X 0 0 0 DAN STEVENSON TRUSTEE 4.00 X 0 0 0 FAITH SZAMBELANCZYK OSF TRUSTEE 4.00 X 0 0 0 MICHAEL TURK TRUSTEE 4.00 X 0 0 0 THOMAS VANA TRUSTEE 4.00 X 0 0 0 ANTHONY VILLA TRUSTEE 4.00 X 0 0 0 SHAWN WALSH TRUSTEE 4.00 X 0 0 0 PATRICIA S WHEELER TRUSTEE 4.00 X 0 0 0 PHYLLIS M WILSON TRUSTEE 4.00 X 0 0 0 LAWRENCE A WYLLIE TRUSTEE 4.00 X 0 0 0 MARY JO YOUNG OSF TRUSTEE 4.00 X 0 0 0 DOLORES ZEMONT OSF TRUSTEE 4.00 X 0 0 0 ARTHUR SCHEUBER VICE CHAIRPERSON OF THE BOARD OF TRUSTEES 8.00 X X 0 0 0 KATHLEEN J MCGOWAN CHAIRPERSON OF THE BOARD OF TRUSTEES 8.00 X X 0 0 0 ARVID JOHNSON SECRETARY & UNIVERSITY PRESIDENT 50.00 X 272767 0 42306 ELIZABETH LAKEN VP ADMIN & FINANCE/TREASURER (6/1/15-2/28/16) 50.00 X 152976 0 24942 JULEE GARD VP ADMIN & FINANCE/TREASURER (3/16/16-5/31/16) 50.00 X 0 0 0 FRANK PASCOE PROVOST AND ACADEMIC VP 50.00 X 170564 0 17022 CHARLES BEUTEL VP ADMISSIONS AND ENROLLMENT SVCS 50.00 X 129780 0 30080 LAURA GRIMES PROGRAM DIRECTOR PHYS ASST 40.00 X 125989 0 16383 LYLE HICKS REC SPORTS & TOURISM MGMT 40.00 X 158731 0 12875 JOHN GAMBRO DEAN COLLEGE OF EDUCATION 50.00 X 112378 0 28330 CAROL WILSON COLLEGE OF NURSING DEAN 50.00 X 130881 0 16738 1254066 0 188676 15 0 1 0 R BERTI & SON CONTRACTOR INC 1604 CATON FARM ROAD LOCKPORT IL 604416516 CONSTRUCTION SERVICES 1962597 SODEXO INC & AFFLIATES 500 WILCOX STREET JOLIET IL 604356169 FOOD SERVICE MANAGEMENT 1575622 CROWTHER ROOFING & SHEET METAL INC 18958 AIRPORT ROAD LOCKPORT IL 604463531 CONSTRUCTION SERVICES 888445 CHAMPION DRYWALL INC 24121 S NORTHERN ILLINOIS DR CHANNAHON IL 604105358 CONSTRUCTION SERVICES 596514 EXCEL ELECTRIC INC 24 SANGMEISTER ROAD FRANKFORT IL 604237737 ELECTRICAL SERVICES 495994 28 413252 847799 5924574 1670705 7185625 TUITION AND FEES 611310 59957090 59957090 STUDENT HOUSING AND AUXILIARY ENT 611310 3862714 3822701 40013 63819804 594293 594293 18019569 44147 18170941 179676 -151372 -135529 -286901 -286901 199771 413252 125800 73971 73971 ATHLETIC FUNDRAISING ACTIVITIES 900099 118908 118908 FEES FOR ACTIVITIES 900099 50867 50867 933718 933718 1103493 72490285 63779791 40013 1484856 19845692 19845692 686337 181840 492569 11928 24962583 20933002 3647796 381785 1255803 1022025 205699 28079 4403977 3907799 418915 77263 1794419 1495782 274074 24563 56232 55932 300 96580 96580 25415 25415 89046 89046 1923509 1074754 844323 4432 326755 40655 285813 287 2556085 1683287 778022 94776 574961 431333 138540 5088 2259537 1811809 444168 3560 750630 621929 123183 5518 111872 91638 15221 5013 553153 367874 183514 1765 3053301 2030598 1012963 9740 572420 206408 366012 FOOD EXPENSES 1638693 1557452 65053 16188 MEMBERSHIPS 242606 126174 115368 1064 FEES 239194 89499 144517 5178 BAD DEBT EXPENSE 61250 61250 323277 142667 136092 44518 68403327 57662217 9994650 746460 3030 3030 6818558 20210908 236271 3084464 4984152 6570885 1326016 1424138 535186 467998 86911812 36616708 44748214 50295104 17790135 14738569 2744623 2307036 79186185 99102132 4386202 4806777 3982716 4616974 26189000 39706015 2957011 5504637 37514929 54634403 X 28810763 29467224 4109775 6315149 8750718 8685356 41671256 44467729 79186185 99102132 X 4086958 -832920 13914 -471479 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 17307753 945084 -578406 504942 17169489 15321950 2024948 437307 465904 10548 17307753 14401149 658604 693090 422155 8738 15321950 13607211 312705 728800 245667 1900 14401149 10245264 228301 3870 275171 10202264 0.39420 0.50550 0.10030 1 0 7702646 7702646 51450845 24350774 27100071 934764 166185 768579 13712322 9475585 4236737 13111235 2624164 10487071 50295104 CAPITAL LEASE OBLIGATIONS 489186 OTHER LIABILITIES 1375527 INTEREST RATE SWAP AGREEMENTS 596272 U.S. GOVERNMENT STUDENT LOAN FUNDS 1043652 LINE OF CREDIT 2000000 5504637 X 53584030 13914 554065 567979 53016051 89046 19385188 19474234 72490285 49483158 554065 554065 48929093 89046 19385188 19474234 68403327 PART V, LINE 4: THE INTENDED USES OF THE UNIVERSITY'S ENDOWMENT FUND ARE: SCHOLARSHIPS, PRIZES AND AWARDS, FACULTY DEVELOPMENT AND OTHER PROGRAMS. PART X, LINE 2: THE UNIVERSITY IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND A SIMILAR PROVISION OF STATE LAW. HOWEVER, THE UNIVERSITY IS SUBJECT TO FEDERAL INCOME TAX ON ANY UNRELATED BUSINESS TAXABLE INCOME. THE UNIVERSITY FILES TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 125,799. NET LOSS ON PROPERTY SALE 135,529. SGA & PARENT NETWORK REVENUE 292,737. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FINANCIAL AID 19,385,188. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 125,799. SGA & PARENT NETWOR COSTS 292,737. NET LOSS ON PROPERTY SALE 135,529. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FINANCIAL AID 19,385,188. 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'S POLICY IS ONE OF NON-DISCRIMINATION WITH RESPECT TO THE PUBLIC SERVED BY THE INSTITUTION AND WITH RESPECT TO UNIVERSITY PERSONNEL. ADVERTISEMENTS, BROCHURES, PUBLICATIONS, APPLICATION FOR ADMISSIONS, ETC., CONTAIN A STATEMENT TO THE EFFECT THAT THE UNIVERSITY DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, RELIGION, GENDER, GENDER IDENTITY, GENETIC INFORMATION, AGE, NATIONAL ORIGIN, ANCESTRY, MARITAL STATUS, SEXUAL ORIENTATION, HANDICAP, DISABILITY, VETERAN STATUS OR UNFAVORABLE DISCHARGE FROM MILITARY SERVICE. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY APPLIES FOR AND RECEIVES EDUCATIONAL GRANTS, AS APPROVED ON A CASE BY CASE BASIS, FROM FEDERAL AND STATE AGENCIES. THE UNIVERSITY ALSO PARTICIPATES ANNUALLY IN FEDERAL & STATE FINANCIAL AID PROGRAMS, SPECIFICALLY PELL, FSEOG, FEDERAL WORK-STUDY, PERKINS LOANS, FEDERAL DIRECT LOANS, AND VARIOUS STATE OF ILLINOIS SCHOLARSHIP AND GRANT PROGRAMS FOR QUALIFIED STUDENTS (I.E., IL MAP). 1 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDENT SERVICES 46171 CANADA 0 0 PROGRAM SERVICES INSTITUTIONAL SUPPORT & ACADEMIC SUPPORT 28695 0 0 0 0 0 0 74866 0 74866 0 0 0 0 0 0 PART I, LINE 2: THE UNIVERSITY HAS CONTROLS IN PLACE TO MONITOR THE USE OF ALL GRANT FUNDS AND OTHER ASSISTANCE. THE UNIVERSITY WORKED WITH A FOREIGN AGENCY DURING THE TAX YEAR TO HELP THE UNVIERSITY RECRUIT STUDENTS FROM FOREIGN COUNTRIES. X X X X X X X 1 MCALLISTER & QUINN LLC 1368 N WASHINGTON AVE SCRANTON PA 185092844 FUNDRAISING CONSULTING 0 76613 16200 60413 GRANTS PLUS LLC 1422 EUCLID AVENUE STE 970 CLEVELAND OH 441152011 FUNDRAISING CONSULTING 0 76612 9215 67397 153225 25415 127810 IL CARITAS SCHOLARSHIP BALL 493309 317012 176297 53175 3500 35751 PAT SULLIVAN GOLF OUTING 77827 66025 11802 8767 5013 3046 1 41887 30215 11672 510 7172 8500 366 613023 413252 199771 9277 65360 12000 39163 125800 73971 1 SCHOLARSHIPS & GRANTS 1856 19385188 PART I, LINE 2: THE UNIVERSITY HAS CONTROLS IN PLACE TO MONITOR THE USE OF ALL GRANT FUNDS. THE UNIVERSITY PROVIDES SCHOLARSHIPS AND GRANTS TO STUDENTS MATRICULATING AT THE UNIVERSITY. THE DEVELOPMENT AND FINANCIAL AID DEPARTMENTS REVIEW OVERALL USE OF SCHOLARHSIP AND OTHER GRANT FUNDS TO ENSURE THAT THE RECIPIENTS ARE ELIGIBLE TO RECEIVE THE FUNDS. ALL FUNDS ISSUED TO THE STUDENTS ARE REQUIRED TO DEFRAY THE COST OF TUITION, ROOM AND BOARD. SINCE THE STUDENTS HAVE NO DISCRETION IN THE USE OF THE FUNDS, THE UNIVERSITY HAS NO NEED TO MONITOR THE GRANTS ONCE THEY ARE ISSUED. X X X X X X 0 0 0 0 0 0 0 0 0 ARVID JOHNSON SECRETARY & UNIVERSITY PRESIDENT 252215 0 0 0 20552 0 26256 0 16050 0 315073 0 0 0 ELIZABETH LAKEN VP ADMIN & FINANCE/TREASURER (6/1/15 151456 0 0 0 1520 0 16127 0 8815 0 177918 0 0 0 FRANK PASCOE PROVOST AND ACADEMIC VP 168980 0 0 0 1584 0 17022 0 0 0 187586 0 0 0 CHARLES BEUTEL VP ADMISSIONS AND ENROLLMENT SVCS 128509 0 0 0 1271 0 14030 0 16050 0 159860 0 0 0 LYLE HICKS REC SPORTS & TOURISM MGMT 157481 0 0 0 1250 0 8195 0 4680 0 171606 0 0 0 A ILLINOIS FINANCE AUTHORITY 861091967 NONEAVAIL 2013-06-17 24248000 SEE SCHEDULE K, PART VI 0 0 0 B ILLINOIS FINANCE AUTHORITY 861091967 NONEAVAIL 2016-02-23 15000000 THE PLANNING, DESIGNING, ACQUIRING, CONSTRUCTING, RENOVATING, EQUIPPING, FUR 0 0 0 A 24248000 245436 24002564 2013 1 0 1 1 B 15000000 164289 14835711 2016 1 0 1 1 A 0 0 1 1 0 0.01000 0.01000 0 0 1 B 0 0 1 1 0 0.01000 0.01000 0 0 1 A 0 1 1 1 1 1 SEE SCHEDULE K PART IV 7.100000000000 0 0 0 0 1 B 0 1 1 1 1 1 PNC BANK NATIONAL ASSOCIAITON 10.000000000000 0 0 0 0 1 A 1 B 1 SCHEDULE K, PART I, LINE A, COLUMN F - PURPOSE OF THE BOND: THE PROCEEDS OF THE ISSUE WERE DEPOSITED INTO ESCROW ON 6/17/13, AND THEN WERE ENTIRELY SPENT ON 6/18/13 TO (I) CURRENTLY REFUND THE OUTSTANDING $13,380,000 BALANCE OF THE COUNTY OF WILL, ILLINOIS ADJUSTABLE RATE DEMAND REVENUE BONDS ISSUED IN 2005; (II) CURRENTLY REFUND THE OUTSTANDING $11,370,000 BALANCE OF THE COUNTY OF WILL, ILLINOIS TAX-EXEMPT VARIABLE RATE DEMAND REVENUE BONDS ISSUED IN 2007; AND (III) FUND COSTS ASSOCIATED WITH THE ISSUANCE OF THE BOND. SCHEDULE K, PART IV, LINE 2C, COLUMN A THE LAST DATE A REBATE CALCULATION WAS PERFORMED FOR THIS BOND ISSUE WAS 6/30/13. SCHEDULE K, PART IV, LINE 4B, COLUMN A NORTH SHORE COMMUNITY BANK & TRUST COMPANY PATRICIA PASCOE FAMILY OF KEY EMPLOYEE 116652 THE UNIVERSITY EMPLOYS PATRICIA PASCOE WHO IS AN INTERESTED PERSON DUE TO HER FAMILY RELATIONSHIP WITH A KEY EMPLOYEE OF THE UNIVERSITY. 0 ALBAN SCHEUBER FAMILY OF BOARD MEMBER 94101 THE UNIVERSITY EMPLOYS ALBAN SCHEUBER WHO IS AN INTERESTED PERSON DUE TO HIS FAMILY RELATIONSHIP WITH A BOARD OF TRUSTEES MEMBER OF THE UNIVERSITY. 0 X 1 1000 COMPARABLE COST X 6731 COMPARABLE COST X 5 999655 MARKET VALUE STOCK QUOTE X 2 575250 APPRAISED VALUE X AUCTION ITEMS 114 40118 ACTUAL COST X KITCHEN EQUIPMENT 1 35000 ACTUAL COST X EDUCATIONAL EQUIPMENT 17 10550 COMPARABLE COST X EQUIPMENT 1 2400 ACTUAL COST 0 1 1 PART I, LINE 32B: WHEN THE UNIVERSITY RECEIVES A STOCK GIFT, THE DEVELOPMENT OFFICE REFERS THE DONOR TO THE UNIVERSITY'S THIRD-PARTY BROKER. DONATED STOCK IS SOLD IMMEDIATELY BY A BROKER AND THE BORKER SENDS THE UNIVERSITY THE NET PROCEEDS FROM THE SALE. FORM 990, PART VI, SECTION B, LINE 11 A REVIEW WAS CONDUCTED PRIOR TO FILING THE 990 WITH THE IRS. THE DIRECTOR OF ACCOUNTING AND OTHERS IN BUSINESS AFFAIRS GATHER ALL INFORMATION FROM VARIOUS AREAS OF THE UNIVERSITY AND SUBMIT THE INFORMATION TO EXTERNAL TAX PROFESSIONALS TO PREPARE THE FIRST DRAFT OF THE 990. THE DIRECTOR OF ACCOUNTING THEN REVIEWS THE DRAFT AND MAKES ANY NECESSARY CORRECTIONS AND CHANGES. THE SECOND DRAFT WAS REVIEWED BY THE VICE PRESIDENT FOR ADMINISTRATION AND FINANCE AND THE PRESIDENT OF THE UNIVERSITY. AGAIN, UPDATES AND CHANGES WERE MADE IF NECESSARY. A FINAL DRAFT WAS SENT VIA EMAIL TO ALL VOTING BOARD MEMBERS FOR THEIR REVIEW AND ACCEPTANCE. IF ANY CHANGES WERE REQUIRED AFTER BOARD REVIEW, THEY WERE SENT TO THE TAX PROFESSIONALS FOR INCORPORATION INTO THE FINAL FORM 990. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST DISCLOSURE STATEMENTS ARE SENT TO EACH BOARD MEMBER EACH SUMMER. ALL BOARD MEMBERS ARE EXPECTED TO RETURN THE CONFLICT OF INTEREST DISCLOSURE STATEMENTS TO THE EXECUTIVE ASSISTANT TO THE PRESIDENT AT THE FALL BOARD MEETING, IF NOT SOONER. A PROCESS HAS BEEN ESTABLISHED TO FOLLOW UP WITH ANY MEMBERS WHO HAVE NOT RETURNED THE CONFLICT OF INTEREST DISCLOSURE STATEMENT WITHIN THE GIVEN PARAMETERS. THE UNIVERSITY MONITORS CONFLICTS OF INTEREST BY SENDING OUT A QUESTIONNAIRE ANNUALLY. IN ADDITION, CONFLICTS ARE MONITORED AT EVERY MEETING A QUESTION REGARDING CONFLICTS IS RAISED. IF A CONFLICT ARISES, THE BOARD MEMBER RECUSES HIMSELF/HERSELF FROM PARTICIPATING IN THE GOVERNING BODY'S DELIBERATIONS AND ACTIONS ON THE TOPIC OR TRANSACTION UNDER CONSIDERATION. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES FUNCTIONS AS THE COMPENSATION COMMITTEE AND IS RESPONSIBLE FOR DETERMINING THE PRESIDENT'S SALARY AND BENEFITS. THE COMPENSATION COMMITTEE WORKS WITH HUMAN RESOURCES, THE PRESIDENT, AND OUTSIDE CONSULTANTS (AS NEEDED) TO OBTAIN COMPARABLE SALARY AND BENEFIT DATA FROM ORGANIZATIONS SUCH AS THE COLLEGE AND UNIVERSITY PERSONNEL ASSOCIATION (CUPA), IN ORDER TO ESTABLISH APPROPRIATE SALARY AND BENEFITS PACKAGES. THE COMPENSATION COMMITTEE CONSISTS OF THE CHAIRPERSON OF THE BOARD OF TRUSTESS AND THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTESS, WHO ARE NOT RELATED TO THE PRESIDENT AND DO NOT PERFORM MANAGEMENT-DIRECTED SERVICES TO THE UNIVERSITY. THE PRESIDENT OF THE UNIVERSITY HAS A MULTI-YEAR CONTRACT, PERFORMANCE AGAINST WHICH IS REVIEWED ANNUALLY TO DETERMINE IF ALL OBJECTIVES HAVE BEEN SATISFIED. THE PRESIDENT OF THE UNIVERSITY - UPON CONSULTATION WITH THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES - IS RESPONSIBLE FOR DETERMINING THE COMPENSATION OF THE PRESIDENT'S DIRECT REPORTS AND THE ACADEMIC DEANS AND WORKS WITH HUMAN RESOURCES TO OBTAIN COMPARABLE SALARY AND BENEFITS DATA FROM ORGANIZATIONS SUCH AS CUPA. ALL COMPENSATION DECISIONS ARE CONTEMPORANEOUSLY DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST. THE AUDITED FINANCIAL STATEMENTS AND PUBLIC DISCLOSURE COPIES OF THE IRS FORM 990 AND 990-T ARE AVAILABLE TO THE PUBLIC AT THE UNIVERSITY OF ST. FRANCIS' WEBSITE, WWW.STFRANCIS.EDU. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENT -284,636. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -186,843. SISTERS OF ST FRANCIS OF MARY IMMACULATE 1433 ESSINGTON JOLIET IL 60435 362764900 RELIGIOUS ORDER IL 501(C)(3) LINE 1 N/A 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1