2016-01-15T10:00:17-06:00 2015-05-31 990 2014-06-01 560532303 Elon University ELON 3362785260 314 West Haggard Avenue Elon NC 27244 Gerald Whittington Sr. VP for Bus, Fin & Tech 2016-01-15 false 2014 2016-04-25 22:37:26Z Dr Leo Lambert 314 West Haggard Avenue Elon NC 27244 290353152 false X www.ELON.edu X 1889 NC ELON UNIVERSITY'S MISSION IS TO TRANSFORM THE MIND, BODY, AND SPIRIT AND ENCOURAGE FREEDOM OF THOUGHT AND LIBERTY OF CONSCIENCE. THE UNIVERSITY PROVIDES A LIBERAL ARTS UNDERGRADUATE CURRICULUM AND GRADUATE PROGRAMS. 42 38 4234 962 -582594 -582594 16956994 31537230 232757801 248103136 789565 780154 1588239 1891013 252092599 282311533 35621787 37665892 0 0 109817998 119723046 36277 17240 5160683 80497666 90070658 225973728 247476836 26118871 34834697 627584886 673167588 205883563 197196960 421701323 475970628 ELON UNIVERSITY'S MISSION IS TO TRANSFORM MIND, BODY, AND SPIRIT AND ENCOURAGE FREEDOM OF THOUGHT AND LIBERTY OF CONSCIENCE. THE UNIVERSITY PROVIDES A LIBERAL ARTS UNDERGRADUATE CURRICULUM AND GRADUATE PROGRAMS. false false 138006766 37665892 206204589 INSTRUCTION - EXPENSES RELATED TO PROVIDING THE PRIMARY PURPOSE OF EDUCATION FOR GRADUATE AND UNDERGRADUATE STUDENTS. 36444625 37964619 AUXILIARY SERVICES - EXPENSES RELATED TO THE FUNCTION OF FURNISHING GOODS OR SERVICES TO STUDENTS, FACULTY, OR STAFF. EXAMPLES ARE RESIDENCE HALLS AND FOOD SERVICES. 33976385 3933928 STUDENT SERVICES - EXPENSES RELATED TO THE PRIMARY PURPOSE OF CONTRIBUTING TO STUDENTS' EMOTIONAL AND PHYSICAL WELL-BEING AND INTELLECTUAL, CULTURAL, AND SOCIAL DEVELOPMENT. ATHLETICS IS INCLUDED WITHIN THIS DIVISION. 7711664 1743711 ACADEMIC SUPPORT - EXPENSES INCURRED TO PROVIDE SUPPORT SERVICES FOR THE INSTITUTION'S PRIMARY MISSION OF INSTRUCTION, INCLUDING THE LIBRARY, MEDIA SERVICES, AND TECHNOLOGY. 7711664 1743711 216139440 true true false false false false true false true true true false false true true false true true false true false false true true false false false true true true false false false false false false false false true true true true false false true false false false false true 629 0 true 4234 true true true false false false false true true false false false false X 42 38 true false false false false false false true true false false true true true true true true true true false NC X Jane Deaton 3362785260 PO Box 398 Elon NC 27244 Kerrii Brown Anderson Vice Chair 1.00 X X 0 0 0 Dr William N P Herbert Chair 1.00 X X 0 0 0 Kebbler McGhee Williams Secretary 1.00 X X 0 0 0 Noel L Allen Trustee 1.00 X 0 0 0 Howard F Arner Trustee 1.00 X 0 0 0 A Christine Baker Trustee 1.00 X 49219 0 3765 Thomas E Chandler Trustee 1.00 X 0 0 0 Ali Deatsch Trustee 1.00 X 0 0 0 Louis DeJoy Trustee 1.00 X 0 0 0 Edward W Doherty Trustee 1.00 X 0 0 0 Wesley R Elinburg Trustee 1.00 X 0 0 0 Allen E Gant Jr Trustee 1.00 X 0 0 0 Michele Skeens Hazel Trustee 1.00 X 0 0 0 James A Hendrickson Trustee 1.00 X 0 0 0 John R Hill Trustee 1.00 X 0 0 0 Victoria Silek Hunt Trustee 1.00 X 0 0 0 William J Inman Trustee 1.00 X 0 0 0 Maurice N Jennings Jr Trustee 1.00 X 0 0 0 Bradford A Koury Trustee 1.00 X 0 0 0 Gail M Lane Trustee 1.00 X 0 0 0 A Michelle Larose Trustee 1.00 X 0 0 0 Dr W Bryan Latham Trustee 1.00 X 0 0 0 Jack R Lindley Sr Trustee 1.00 X 0 0 0 Robert E Long Jr Trustee 1.00 X 0 0 0 Frank R Lyon Trustee 1.00 X 0 0 0 Mark T Mahaffey Trustee 1.00 X 0 0 0 Chris P Martin Trustee 1.00 X 0 0 0 Dalton L McMichael Jr Trustee 1.00 X 0 0 0 The Rev Dr Marvin L Morgan Trustee 1.00 X 0 0 0 C Ashton Newhall Trustee 1.00 X 0 0 0 David C Porter Trustee 1.00 X 0 0 0 Anne Ellington Powell Trustee 1.00 X 0 0 0 Jeanne Swanner Robertson Trustee 1.00 X 0 0 0 Richmond J Rosati Trustee 1.00 X 0 0 0 William H Smith Trustee 1.00 X 0 0 0 Richard L Thompson Trustee 1.00 X 0 0 0 Zachary T Walker III Trustee 1.00 X 0 0 0 Katherine Stern Weaver Trustee 1.00 X 0 0 0 Deborah A Yow-Bowden Trustee 1.00 X 0 0 0 Edmond N Moriarty Trustee 1.00 X 0 0 0 Eric Sklut Trustee 1.00 X 0 0 0 Aisha Mitchell Youth Trustee 1.00 X 0 0 0 Barbara Bass Trustee 1.00 X 0 0 0 Dr Leo Lambert President 40.00 X 536760 0 39831 Gerald Whittington Sr. VP -Bus, Fin & Tech. 40.00 X 370209 0 40073 Dr Gerry Francis Exec. Vice President 40.00 X 243974 0 34040 Dr Steven House Prov & VP Academic Affairs 40.00 X 259363 0 29402 David L (Dave) Blank Director of Athletics 40.00 X 226163 0 43755 Dr Smith Jackson Vice Pres. & Dean of Students 40.00 X 195646 0 28689 Richard J Skrosky Football Coach 40.00 X 293014 0 26197 Raghuram Tadepalli Dean-School of Bus. 40.00 X 257807 0 32687 Matthew M Matheny Basketball Coach 40.00 X 255166 0 27672 George Johnson School of Law 40.00 X 253497 0 24780 James Piatt VP- Inst. Adv. 40.00 X 250445 0 42264 3191262 0 373155 137 false true true ARAMARK CORPORATION PO BOX 198532 ATLANTA GA 303848532 DINING SERVICES 14340141 CHOATE CONST CO 4800 FALLS OF NEUSE RD STE 106 RALEIGH NC 27609 CONSTRUCTION 10828236 SAMET CORPORATION PO BOX 8050 GREENSBORO NC 27419 CONSTRUCTION 6449591 COLMAR CONTRACTING INC PO BOX 8516 GREENSBORO NC 27419 CONTRACTOR 2104126 DAVIE CONSTRUCTION COMPANY PO BOX 1724 CLEMMONS NC 27012 CONSTRUCTION 2085467 114 56284 2331934 29149012 7158504 31537230 TUITION & FEES 900099 206204589 206204589 AUXILIARY ENTERPRISES 900099 37964619 37964619 ATHLETICS 900099 3933928 3933928 0 0 0 0 248103136 809174 -653191 1462365 0 0 7909854 18275 7854414 102735 55440 -84460 -29020 -29020 132155 56284 84470 47685 47685 OTHER REVENUES 900099 1774168 1772731 1437 ADVERTISING 900099 69160 69160 0 0 0 0 1843328 282311533 249846847 -582594 1510050 37665892 37665892 2265573 644707 1416290 204576 91357057 70499510 17693469 3164078 5909145 4370705 1352727 185713 12970153 9660563 2912939 396651 7221118 5281447 1709653 230018 367437 364 367073 197052 197052 17240 17240 1562167 1426217 135950 14685136 13761052 810686 113398 698477 681814 16386 277 16652225 9346239 7095507 210479 3214892 262299 2945296 7297 16579211 1519795 15059416 13957973 13010055 809188 138730 3819750 3224396 536536 58818 99130 99130 11222127 11036321 127322 58484 1557490 364895 1192595 DEBT SERVICE 4657595 4657595 SPECIAL PROJECTS 2681742 2558918 72177 50647 INTEREST RATE SWAP 699811 699811 OTHER -2581557 26166656 -29072490 324277 0 0 0 0 247476836 216139440 26176713 5160683 58873558 37185569 4268383 12762591 3259783 4045024 69924 59590 2880999 4526829 449026334 108432458 330743756 340593876 43851621 64670152 178876420 205602615 3606401 3161051 1154041 560291 627584886 673167588 24117900 19506560 3424983 3062766 154905000 149185000 23435680 25442634 205883563 197196960 X 277542862 307154641 41514115 57254074 102644346 111561913 421701323 475970628 627584886 673167588 X 34834697 19434601 7 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2062873 0 0 X X X false 188687623 14601394 19757493 5007667 2252104 1562167 214224572 158819152 13744425 24217271 4166407 1969460 1957358 188687623 133958547 12210254 19147527 3580637 1716099 1200440 158819152 128127478 12008099 -628337 2985735 1598352 964606 133958547 108826135 4803634 19709542 2682455 1426816 1102562 128127478 0.367 0.514 0.119 false false 20024812 20024812 343778894 68191662 275587232 3215782 612671 2603111 29714350 20926790 8787560 52292496 18701335 33591161 340593876 Alternative Investments 203329671 F Other 1334296 F Real Estate 938648 F 205602615 0 Agency obligations & Refundable advances 4870863 Student deposits 6723809 Federal advance-Perkins student loans 3391288 Capital lease obligations 2114972 Obligation under interest rate swap 8341702 25442634 X 262688082 19434601 -37665892 -18231291 280919373 1476636 -84476 1392160 282311533 207718966 84470 84470 207634496 1476636 38365704 39842340 247476836 Schedule D, Part III, Line 4 Collections of art - description of collections THE COLLECTIONS OF ART AND SIMILAR ASSETS ARE USED FOR TEACHING AND RESEARCH BY THE UNIVERSITY'S FACULTY AND STUDENTS. SOME PIECES ARE ON DISPLAY THROUGHOUT THE CAMPUS. Schedule D, Part V, Line 4 Intended uses of endowment funds THE UNIVERSITY'S ENDOWMENT CONSISTS OF INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF EDUCATIONAL PURPOSES WHICH INCLUDE THE FUNDING OF SCHOLARSHIPS, PROFESSORSHIPS AND PROGRAM RELATED ACTIVITIES SUCH AS STUDY ABROAD, FACULTY DEVELOPMENT, COMMUNICATIONS STUDIES, LECTURE SERIES, SUPPORT OF SPIRITUAL LIFE, ETC. SCHOLARSHIPS PROVIDED INCLUDE ACADEMIC, ATHLETIC AND NEED BASED SCHOLARSHIPS WHICH ARE AWARDED BY THE OFFICE OF FINANCIAL PLANNING ON AN ANNUAL BASIS. FUNDS PROVIDED FOR PROFESSORSHIPS ARE USED TO FUND SALARY AND OPERATING EXPENSES FOR THE INTENDED AREA OF STUDY. EXTERNAL INVESTMENT MANAGERS ARE EMPLOYED TO OVERSEE THE ENDOWMENT FUNDS. THE BOARD OF TRUSTEES HAVE APPROVED AN ENDOWMENT SPENDING POLICY WHEREBY DISTRIBUTIONS ARE USED TO FUND THE EDUCATIONAL PURPOSES DESCRIBED ABOVE. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT ON NET INCOME DERIVED FROM ACTIVITIES UNRELATED TO ITS BUSINESS PURPOSE. THE UNIVERSITY BELIEVES IT HAS SUFFICIENT JUSTIFICATION FOR ANY TAX POSITIONS TAKEN, INCLUDING ALLOCATION OF EXPENSES TO ITS UNRELATED BUSINESS INCOME AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS. GENERALLY, FEDERAL INCOME TAX RETURNS ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICES FOR THREE YEARS AFTER THEY ARE FILED. AS OF THE REPORT DATE (SEPTEMBER 19, 2014), THE UNIVERSITY'S FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS (FORM 990-T) FOR 2013, 2012 AND 2011 REMAIN SUBJECT TO SAID EXAMINATION. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 TUITION DISCOUNT - -37665892 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements FUNDRAISING EXPENSE REPORTED ON 990-Part VIII Line 8b - -84470 Rounding - -6 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 FUNDRAISING EXPENSES - 84470 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements Interest Rate Swap - 699811 Tuition Discount - 37665892 Rounding - 1 true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY ELON UNIVERSITY'S NONDISCRIMINATORY POLICY APPEARS ON ITS APPLICATION, IN THE VIEWBOOK, PRE-REGISTRATION GUIDE, ACADEMIC CATALOG AND ON MONITORS ACROSS CAMPUS. THE POLICY STATES "THE UNIVERSITY DOES NOT DISCRIMINATE ON THE BASIS OF AGE, RACE, COLOR, CREED, SEX, NATIONAL OR ETHNIC ORIGIN, DISABILITY, SEXUAL ORIENTATION, GENDER IDENTITY, OR VETERAN'S STATUS (COLLECTIVELY KNOWN AS "PROTECTED CATEGORIES") IN THE RECRUITMENT AND ADMISSION OF STUDENTS, THE RECRUITMENT AND EMPLOYMENT OF FACULTY AND STAFF OR THE OPERATION OF ANY OF ITS PROGRAMS." Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT THE UNIVERSITY RECEIVES FUNDS FROM THE FEDERAL GOVERNMENT AND THE STATE OF NORTH CAROLINA ON BEHALF OF ITS STUDENTS WHO HAVE DEMONSTRATED FINANCIAL NEED. A LIST OF ANY FINANCIAL AID OR ASSISTANCE FROM STATE AND FEDERAL AGENCIES IS ON FILE AT THE INSTITUTION AND IS PUBLISHED IN THE A-133 AUDIT EACH YEAR. Central America and the Caribbean 0 0 Program Services STUDY ABROAD 224902 East Asia and the Pacific 0 0 Program Services STUDY ABROAD 573077 Europe (Including Iceland and Greenland) 0 0 Program Services STUDY ABROAD 5488121 Middle East and North Africa 0 0 Program Services STUDY ABROAD 12479 North America (Canada & Mexico only) 0 0 Program Services STUDY ABROAD 26570 South America 0 0 Program Services STUDY ABROAD 9020 South Asia 0 0 Program Services STUDY ABROAD 122182 Sub-Saharan Africa 0 0 Program Services STUDY ABROAD 155936 0 0 0 0 0 0 6612287 0 6612287 true false false false false false X X X X X X X true RUFFALOCODY PHONATHON false 11140 -11140 0 11140 -11140 AL AK AR CA CO CT FL GA HI IL KS KY LA ME MD MA MI MN MS MO NH NJ NM NY NC ND OH OK OR PA RI SC TN VA WA WV WI Night of the Phoenix 146616 56284 90332 1952 18974 18001 6824 Chopper Dropper 41823 41823 18000 9148 3344 8227 0 0 0 0 0 0 0 0 0 0 188439 56284 132155 18000 0 1952 28122 21345 15051 84470 47685 true FINANCIAL AID TO STUDENTS 4399 37665892 Schedule I, Part I, Line 2 Description Of Procedure For Monitoring Use Of Grant Funds SCHOLARSHIP FUNDS ARE MONITORED COLLABORATIVELY BY THE OFFICE OF THE REGISTRAR, OFFICE OF THE BURSAR, FINANCIAL PLANNING, AND THE ACCOUNTING OFFICE TO VERIFY ELIGIBILITY, APPROPRIATE SELECTION CRITERIA AND APPLICATION OF SCHOLARSHIP FUNDS. FUNDS ARE CREDITED DIRECTLY TO THE STUDENTS' ACCOUNTS Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. SCHOLARSHIP FUNDS ARE MONITORED COLLABORATIVELY BY THE OFFICE OF THE REGISTRAR, OFFICE OF THE BURSAR, FINANCIAL PLANNING, AND THE ACCOUNTING OFFICE TO VERIFY ELIGIBILITY, APPROPRIATE SELECTION CRITERIA AND APPLICATION OF SCHOLARSHIP FUNDS. FUNDS ARE CREDITED DIRECTLY TO THE STUDENTS' ACCOUNTS X X X X true true X X X X X X false false false false false false false false Dr Leo Lambert President 408869 0 0 0 127891 0 20800 0 19031 0 576591 0 0 0 Gerald Whittington Sr. VP -Bus, Fin & Tech. 295094 0 0 0 75115 0 20800 0 19273 0 410282 0 0 0 Dr Gerry Francis Exec. Vice President 209023 0 0 0 34951 0 17225 0 16815 0 278014 0 0 0 Dr Steven House Prov & VP Academic Affairs 228017 0 0 0 31346 0 19904 0 9498 0 288765 0 0 0 David L (Dave) Blank Director of Athletics 219851 0 0 0 6312 0 18483 0 25272 0 269918 0 0 0 Dr Smith Jackson Vice Pres. & Dean of Students 172901 0 0 0 22745 0 14130 0 14559 0 224335 0 0 0 Richard J Skrosky Football Coach 288525 0 0 0 4489 0 20800 0 5397 0 319211 0 0 0 Raghuram Tadepalli Dean-School of Bus. 254041 0 0 0 3766 0 20640 0 12047 0 290494 0 0 0 Matthew M Matheny Basketball Coach 230827 0 0 0 24339 0 19000 0 8672 0 282838 0 0 0 George Johnson School of Law 240825 0 0 0 12672 0 19513 0 5267 0 278277 0 0 0 James Piatt VP- Inst. Adv. 235492 0 0 0 14953 0 19553 0 22711 0 292709 0 0 0 Schedule J, Part I, Line 1a Tax indemnification and gross-up payments TAX INDEMNIFICATION AND GROSS-UP PAYMENTS INCLUDING SOCIAL CLUB DUES: THE UNIVERSITY GROSSES UP TWO BENEFITS FOR CERTAIN SENIOR STAFF: SOCIAL CLUB DUES AND CAR ALLOWANCES. SOCIAL CLUB MEMBERSHIPS ARE USED FOR ENTERTAINMENT/FUNDRAISING PURPOSES FOR THE DIRECT BENEFIT OF THE UNIVERSITY. PERSONAL USE OF THE SOCIAL CLUB AND CARS ARE INCLUDED IN THE TAXABLE INCOME OF THE EMPLOYEES. Schedule J, Part I, Line 1a Housing allowance or residence for personal use HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: THE ONLY PERSON WHO RECEIVES HOUSING IS THE UNIVERSITY PRESIDENT. HIS CONTRACT STATES THAT AS A CONDITION OF HIS EMPLOYMENT AS PRESIDENT OF THE UNIVERSITY AND AS A BENEFIT TO THE UNIVERSITY HE IS TO RESIDE IN THE UNIVERSITY PROVIDED HOUSING. IN ADDITION, HIS CONTRACTS STATES THAT THE UNIVERSITY SHALL PAY ALL UTILITIES, REAL ESTATE TAXES, INSURANCE AND EXPENSE FOR MAINTENANCE AND UPKEEP FOR THE PRESIDENTIAL RESIDENCE. Schedule J, Part I, Line 1a Health or social club dues or initiation fees SOCIAL CLUB MEMBERSHIPS ARE USED FOR ENTERTAINMENT/FUNDRAISING PURPOSES FOR THE DIRECT BENEFIT OF THE UNIVERSITY. A NORTH CAROLINA CAPITAL FACILITIES FINANCE AGENCY 561592154 2012-07-18 54595000 FINANCE COST OF IMPROVEMENTS false false false B NORTH CAROLINA CAPITAL FACILITIES FINANCE AGENCY 561592154 2014-09-30 39985000 REFUNDED ISSUES 1997, 1998, 2000, 2001C AND 2006. false false false C NORTH CAROLINA FACILITIES FINANCE AGENCY SERIES 561592154 2014-09-30 60325000 REFUNDED ISSUES 2010 AND 2011. false false false A 0 54828584 1901578 235373 50569436 500000 2014 false false false true B 39985000 39985000 2008 true false true true C 60325000 60325000 2013 true false true true A false false false false 0.0 false false true B false false false false 0.0 false false true C false false false false 0.0 false false true A false true true false false false false false true B false true true true WELLS FARGO 25.0 false false false false true C false true true true WELLS FARGO 25.0 false false false false true A true B true C true Schedule K, Part II, Line 3 Column A NC CAPITAL FACITILITIES FINANCE AGENCY-$233,584 Interest earned has been added to the issue price. Schedule K, Part II, Line 13 COLUMN C NC Facilities Finance Agency Series-In September 2014 the university extinguished the outstanding debt related to revenue bond series 2010 and 2011 and arranged for debt refinancing through a direct purchase. Projects funded by the original bond issues were completed in 2013. Schedule K, Part II, Line 13 Column B NC Facilities Finance Agency Series-In September 2014 the university extinguished the outstanding debt related to revenue bond series 1997, 1998, 2000, 2001C, and 2006 and arranged for debt refinancing through a direct purchase. Projects funded by the original bond issues were completed in 2008. Schedule K, Part IV, Line 2c Rebate Calculation Issuer name: NORTH CAROLINA CAPITAL FACILITIES FINANCE AGENCY The calculation for computing no rebate due was performed on 12/31/2014 LAURIE LAMBERT FAMILY MEMBER 49980 IND. CONTRACTOR false INDUSTRIAL PAPER TRUSTEE 235115 SUPPLIER false SUSAN LINDLEY FAMILY MEMBER 58284 EMPLOYEE false RENE JACKSON FAMILY MEMBER 58776 EMPLOYEE false HUNT ELECTRICAL FAMILY MEMBER 179246 SUPPLIER false X 52 7093975 Market value X Leased Vechicle 4 17288 Market value X Miscellaneous 1 13500 Market value X Miscellaneous 2 33741 Market value 0 false true true Schedule M, Part I, Line 32b Third parties used to solicit, process, or sell noncash contributions THIRD PARTY USED TO PROCESS NONCASH CONTRIBUTIONS. PUBLICLY TRADED SECURITIES DONATED TO THE UNIVERSITY ARE SOLD THROUGH A THIRD PARTY STOCK BROKER. IT IS THE UNIVERSITY'S POLICY TO SELL STOCK GIFTS IMMEDIATELY. Schedule M, Part I Explanations of reporting method for number of contributions Other: Number of contributions Other: Number of contributions Other: Number of contributions Securities - Publicly traded: Number of contributions Schedule M, Part I Number of contributions or items contributed Number of contributions Schedule M, Part I Number of contributions or items contributed Number of contributions Schedule M, Part I Number of contributions or items contributed Number of contributions CoreFormPartIII_PartIIILine4d Description of other program services (Expenses $ 7,711,664 including grants of $)(Revenue $ 1,743,711) ACADEMIC SUPPORT - EXPENSES INCURRED TO PROVIDE SUPPORT SERVICES FOR THE INSTITUTION'S PRIMARY MISSION OF INSTRUCTION, INCLUDING THE LIBRARY, MEDIA SERVICES, AND TECHNOLOGY. Form 990, Part VI, Line 2 Family/business relationships amongst interested persons GAIL DREW LANE AND DALTON L. McMICHAEL, JR. - Family relationship Form 990, Part VI, Line 11b Review of form 990 by governing body THE FORM 990 IS REVIEWED AND APPROVED BY THE AUDIT COMMITTEE BEFORE FILING. ALSO, A COPY IS PROVIDED TO THE BOARD THROUGH A PASSWORD PROTECTED WEBSITE. Form 990, Part VI, Line 12c Conflict of interest policy THE UNIVERSITY SENDS OUT AN ANNUAL CONFLICT OF INTEREST FORM TO ALL KEY EMPLOYEES AND MEMBERS OF THE BOARD. EACH YEAR THESE PERSONS ARE TO RE-READ THE CONFLICT OF INTEREST POLICY AND FILL OUT THE ATTACHED FORM WITH VARIOUS QUESTIONS. THE FORMS ARE MONITORED BY THE ASSISTANT TO THE BOARD OF TRUSTEES AND SENT TO THE AUDIT COMMITTEE CHAIR. IF AN ITEM COMES TO VOTE THAT PRESENTS A CONFLICT FOR A BOARD MEMBER, THEY RECUSE THEMSELVES FROM ALL DISCUSSIONS AND VOTE. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE INDEPENDENT PERSONNEL COMMITTEE, A SUB-COMMITTEE OF THE BOARD OF TRUSTEES, HIRES AN INDEPENDENT COMPENSATION CONSULTANT. THE CONSULTANT GATHERS COMPENSATION DATA FROM OTHER UNIVERSITIES, PUBLISHED SURVEYS, AND THE FORMS 990. THE COMMITTEE REVIEWS THE DATA AND FORMULATES A RECOMMENDATION FOR THE BOARD OF TRUSTEES FOR APPROVAL. THESE DISCUSSIONS ARE DOCUMENTED IN THE MEETING MINUTES. FOR ALL OTHER EMPLOYEES, THE HUMAN RESOURCES DEPARTMENT REVIEWS SALARY RANGES AND COMPARES THEM TO INDUSTRY STANDARDS ON A REGULAR BASIS. Form 990, Part VI, Line 15b Process to establish compensation of other employees SEE DESCRIPTION FOR LINE 15A. Form 990, Part VI, Line 19 Required documents available to the public CERTAIN DOCUMENTS ARE AVAILABLE ON THE UNIVERSITY'S WEBSITE. SOME POLICIES ARE AVAILABLE ONLY UPON REQUEST. Form 990, Part XI, Line 9 Other changes in net assets or fund balances ROUNDING - 7; Schedule M, Part I, Line 9 Number of contributions or items contributed Number of contributions Schedule M, Part I, Line 32b Third parties used to solicit, process, or sell noncash contributions THIRD PARTY USED TO PROCESS NONCASH CONTRIBUTIONS. PUBLICLY TRADED SECURITIES DONATED TO THE UNIVERSITY ARE SOLD THROUGH A THIRD PARTY STOCK BROKER. IT IS THE UNIVERSITY'S POLICY TO SELL STOCK GIFTS IMMEDIATELY. TRI-STATE REAL PROPERTIES LLC 615 S DUPONT HIGHWAY DOVER DE 19901 260353244 REAL ESTATE DE 33415 459000 ELON UNIVERSITY