2016-05-12T09:55:52-05:00 2015-06-30 420714325 RSM US LLP 221 THIRD AVENUE SE STE 300 CEDAR RAPIDS IA 524011512 990 2014-07-01 426081293 PALMER COLLEGE FOUNDATION PALM 5638845871 1000 BRADY STREET DAVENPORT IA 52803 THOMAS TIEMEIER CFO/TREASURER 5638845871 2016-05-09 1 CARLEY UMSTEAD P00982177 3192985333 2014 2016-08-17 19:52:53Z PALMER COLLEGE OF CHIROPRACTIC DENNIS MARCHIORI DC 1000 BRADY STREET DAVENPORT IA 52803 64995487 0 X WWW.PALMER.EDU X 1907 IA THE MISSION OF THE COLLEGES OF THE PALMER COLLEGE SYSTEM IS TO EDUCATE AND PREPARE STUDENTS TO BECOME DOCTORS OF CHIROPRACTIC QUALIFIED TO SERVE AS PRIMARY CONTACT HEALTH CARE PROVIDERS; TO ADVANCE THE UNDERSTANDING OF CHIROPRACTIC THROUGH RESEARCH; AND TO SERVE HUMANITY THROUGH PATIENT CARE AND COMMUNITY EDUCATION. 12 11 1047 359 33463 0 3300612 2848668 57159825 57997940 5688674 1686122 1619623 1188290 67768734 63721020 2461763 2316936 0 0 33424492 33077275 38005 47211 54078 22921719 23869423 58845979 59310845 8922755 4410175 155202489 161031090 40466431 42511549 114736058 118519541 X THE MISSION OF PALMER COLLEGE OF CHIROPRACTIC, BASED UPON THE PALMER TENETS, IS TO EDUCATE AND PREPARE STUDENTS TO BECOME DOCTORS OF CHIROPRACTIC QUALIFIED TO SERVE AS DIRECT ACCESS TO PRIMARY HEALTH CARE PROVIDERS AND CLINICIANS, COMPETENT IN WELLNESS PROMOTION, HEALTH ASSESSMENT, DIAGNOSIS AND THE CHIROPRACTIC MANAGEMENT OF THE PATIENT'S HEALTH CARE NEEDS. PALMER IS COMMITTED TO ADVANCING THE UNDERSTANDING OF CHIROPRACTIC THROUGH RESEARCH; TO PROVIDING SERVICE TO THE FIELD OF CHIROPRACTIC, INCLUDING CONTINUING EDUCATION; AND TO SERVING HUMANITY THROUGH PATIENT CARE AND COMMUNITY EDUCATION. 0 0 40551904 2316936 57171695 TEACHING THE ART OF CHIROPRACTIC AND OTHER ACTIVITIES RELATED TO EDUCATION. ENROLLMENT CONSISTS OF 1,744 FULL TIME AND 24 PART TIME STUDENTS. 2171765 826245 AUXILIARY ENTERPRISES AND ACTIVITIES RELATED TO OPERATION OF BOOKSTORE, CAFETERIA, PRINT SHOP, AND CONTINUING EDUCATION PROGRAMS. 42723669 1 1 0 0 0 0 0 1 0 1 1 0 1 0 1 1 0 1 1 0 1 0 0 1 0 0 0 1 1 1 0 0 0 1 0 0 0 1 1 1 0 0 0 1 1 1 0 0 1 2194 0 1 1047 1 1 1 0 0 0 0 1 1 0 0 0 0 X 12 11 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 AK CA MD NH OR X ALEXIS VANDER HORN 5638845102 1000 BRADY STREET DAVENPORT IA 528035214 TREVOR V IRELAND DC CHAIRPERSON 5.00 2.00 X X 8145 0 0 KENT M FORNEY HCD VICE CHAIRPERSON 5.00 2.00 X X 0 0 0 VICKIE A PALMER HCD SECRETARY GENERAL & BOARD MEMBER 1.00 1.00 X X 0 0 0 MICHAEL CHANCE DC BOARD MEMBER 1.00 1.00 X 0 0 0 SUSAN HATFIELD PHD BOARD MEMBER 1.00 1.00 X 0 0 0 CHARLES KELLER DC MA BOARD MEMBER 1.00 1.00 X 0 0 0 KENNETH R KOUPAL BOARD MEMBER 1.00 1.00 X 0 0 0 BARRY L MCALPINE DC BOARD MEMBER 1.00 1.00 X 1979 0 0 WILLIAM E MORGAN DC BOARD MEMBER 1.00 1.00 X 2052 0 0 KENT PILCHER BOARD MEMBER 1.00 1.00 X 1895 0 0 PAUL VANDUYNE PE DC BOARD MEMBER 1.00 1.00 X 0 0 0 WILLIAM L WILKE BOARD MEMBER 1.00 1.00 X 0 0 0 DENNIS MARCHIORI DC PRESIDENT/CHANCELLOR 30.00 10.00 X 409534 0 40446 THOMAS TIEMEIER CFO/TREASURER 30.00 10.00 X 193760 0 31302 LYNNE LINDSTROM EXEC DIR OF BOARD AFFAIRS 30.00 10.00 X 70907 0 14332 KEVIN CUNNINGHAM DC VICE CHANCELLOR 40.00 0.00 X 172806 0 33454 CHRISTINE GOERTZ DC VICE CHANCELLOR 40.00 0.00 X 256801 0 35978 PETER MARTIN DC PRESIDENT 40.00 0.00 X 228723 0 32427 WILLIAM MEEKER DC PRESIDENT 0.00 40.00 X 230983 0 36898 JAMES O'CONNOR VICE CHANCELLOR 40.00 0.00 X 154729 0 6947 ROBERT PERCUOCO DC VICE CHANCELLOR 40.00 0.00 X 178806 0 31299 DAN WEINERT DC PROVOST 40.00 0.00 X 180195 0 36703 MICKEY BURT EXECUTIVE DIRECTOR 40.00 0.00 X 132034 0 22586 DANA LAWRENCE SENIOR DIRECTOR 40.00 0.00 X 140702 0 24280 CYNTHIA LONG DIRECTOR 40.00 0.00 X 155990 0 11963 IAN MCLEAN DC DIRECTOR 40.00 0.00 X 168069 0 27872 THOMAS STEMPEK VICE CHANCELLOR 40.00 0.00 X 128050 0 8800 2816160 0 395287 43 0 1 0 ARAMARK FACILITY SERVICES INC 1000 BRADY STREET DAVENPORT IA 52803 FACILITY SERVICES 1698827 RYAN AND ASSOCIATES 10955 160TH ST DAVENPORT IA 52809 CONSTRUCTION 887319 ESTES COMPANY PO BOX 3608 DAVENPORT IA 52808 CONSTRUCTION 792956 XEROX PO BOX 650361 DALLAS TX 72565 COPY & PRINTING SERVICES 772876 PER MAR SECURITY SERVICES PO BOX 1101 DAVENPORT IA 52805 SECURITY SERVICES 675772 21 115000 1915486 818182 68442 2848668 TUITION AND FEES 611600 55719453 55719453 CLINIC REVENUE 611710 1452242 1452242 AUXILIARY ENTERPRISES 611600 826245 826245 57997940 1205570 1205570 59029 0 59029 59029 59029 470776 12054 0 2278 470776 9776 480552 480552 1523974 1272189 251785 251785 RESEARCH EXP RECOVERY 900099 409388 409388 INT ON LOANS RECEIVABLE 900099 220319 220319 CAMPUS BASE ADMIN INC 900099 135463 135463 112306 33463 78843 877476 63721020 57997940 33463 2840949 45248 45248 2271688 2271688 2326274 438253 1888021 24679537 20258361 4421176 6071464 5541984 529476 4 670033 670033 95075 95075 47211 47211 4502655 2011387 2518712 -27444 793055 500199 288137 4719 859222 215180 635603 8439 3540033 2478023 1062010 367956 225598 134983 7375 734343 335794 386466 12083 787371 787371 4315305 4315305 878165 29441 848724 SUPPLIES 1658598 979195 678747 656 EQUIPMENT RENTAL & MAIN 1173267 280330 892937 CAMPUS SECURITY 912572 912572 STUDENT AID 575290 575290 2006483 1435022 570426 1035 59310845 42723669 16533098 54078 70706 1086271 14103246 23557348 1819009 1400908 11707907 2820954 2121532 851029 699737 805554 120543532 53834520 63971372 66709012 47141447 49823934 11954 11944 10046427 10420167 3509152 3543969 155202489 161031090 6618753 9033314 7911723 8012374 952935 1620970 23980000 22830000 1003020 1014891 40466431 42511549 X 80784133 84815144 20340844 19900676 13611081 13803721 114736058 118519541 155202489 161031090 X 4410175 -488531 -138161 X X 0 1 X 1 1 1 X 5101272 4698432 6188220 3300612 2848668 22137204 5101272 4698432 6188220 3300612 2848668 22137204 1648548 20488656 1563507 1705038 1555462 1143873 1264599 7232479 1141468 939509 1036177 1323307 870286 5310747 34680430 293190125 0.59080 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 302580 X X 0 43058325 192890 1166372 727328 483314 43206945 37960137 153364 5826343 644722 236797 43058325 32008721 3716989 3260084 642356 383301 37960137 31285769 539752 1152992 535262 434530 32008721 26067092 300493 5706566 429463 358919 31285769 0.30000 0.32000 0.38000 0 0 14500 3742098 3756598 90684894 38229118 52455776 1441378 664892 776486 12864531 9936126 2928405 11796131 5004384 6791747 66709012 STUDENT LOANS 10420167 F 10420167 ANNUITIES PAYABLE 447000 CONDITIONAL ASSET RETIREMENT OBLIGATION 567891 1014891 X 61754109 -488531 1272189 783658 60970451 2750569 2750569 63721020 57985015 1353408 1353408 56631607 2679238 2679238 59310845 PART III, LINE 4: THE ART IS A COLLECTION OF ORIENTAL ART, SCULPTURES AND ARTIFACTS ACQUIRED BY THE PALMER FAMILY IN ITS TRAVELS IN THE EARLY 20TH CENTURY. THE COLLECTION WAS LATER DONATED TO THE COLLEGE BY THE FAMILY. THE CHIROPRACTIC PROFESSION WAS FOUNDED BY D.D. PALMER AND DEVELOPED BY FUTURE GENERATIONS OF PALMERS. IN THOSE EARLY YEARS THE DEVELOPMENT OF THE PROFESSION WAS CLOSELY LINKED TO THE FAMILY HISTORY. TO OUR STUDENTS WHO STUDY THE PHILOSOPHY, SCIENCE AND ART OF CHIROPRACTIC, THIS COLLECTION IS TANGIBLE EVIDENCE OF THE HISTORY OF THE CHIROPRACTIC PROFESSION. PART V, LINE 4: ENDOWMENT FUNDS ARE USED FOR STUDENT SCHOLARSHIPS, EDUCATIONAL ACTIVITIES SUPPORT, GENERAL INSTITUTIONAL SUPPORT AND PLANT. PART X, LINE 2: THE FOUNDATION AND THE COLLEGE ARE RECOGNIZED AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FOUNDATION AND COLLEGE MAY BE SUBJECT TO FEDERAL AND STATE INCOME TAXES ON ANY NET INCOME FROM UNRELATED BUSINESS ACTIVITIES. THE FOUNDATION AND COLLEGE FILE A FORM 990 (RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX) ANNUALLY AND UNRELATED BUSINESS INCOME (UBI) IS REPORTED ON FORM 990-T, AS APPROPRIATE. MANAGEMENT HAS EVALUATED THEIR MATERIAL TAX POSITIONS, WHICH INCLUDE SUCH MATTERS AS THE TAX EXEMPT STATUS OF EACH ENTITY AND VARIOUS POSITIONS RELATIVE TO POTENTIAL SOURCES OF UBI. AS OF JUNE 30, 2015 AND 2014, THERE WERE NO UNCERTAIN TAX BENEFITS IDENTIFIED AND RECORDED AS A LIABILITY. FORMS 990 AND 990-T FILED BY THE FOUNDATION AND COLLEGE ARE NO LONGER SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR THE FISCAL YEARS ENDED JUNE 30, 2011 AND PRIOR. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD NETTED WITH REVENUES 1,272,189. PART XI, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL GRANTS 2,271,688. EXPENSES RECLASSIFIED AS REVENUE 410,439. NON CASH CONTRIBUTIONS 68,442. PART XII, LINE 2D - OTHER ADJUSTMENTS: COGS EXPENSES NETTED WITH REVENUES 1,272,189. LOSS ON INTEREST RATE SWAP 81,219. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL GRANTS 2,271,688. EXPENSES RECLASSIFIED AS REVENUE 396,050. OTHER GRANTS TO ORGANIZATIONS 11,500. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 PALMER COLLEGE OF CHIROPRACTIC PUBLISHES ITS EQUAL OPPORTUNITY STATEMENT IN PRINTED MATERIALS THROUGHOUT THE STUDENT RECRUITMENT AND ORIENTATION PERIOD. PALMER COLLEGE OF CHIROPRACTIC DOES NOT ROUTINELY USE NEWSPAPER OR BROADCAST MEDIA IN ITS STUDENT RECRUITMENT EFFORTS. HOWEVER, THE COLLEGE DOES PUBLICIZE ITS RACIALLY NONDISCRIMINATORY POLICY IN A WAY THAT MAKES THE POLICY KNOWN TO PROSPECTIVE STUDENTS BY PUBLISHING THE COLLEGE'S EQUAL OPPORTUNITY STATEMENT IN PRINTED MATERIALS PROVIDED THROUGHOUT THE STUDENT RECRUITMENT PERIOD. IN ADDITION, THE FOUNDATION'S EQUAL OPPORTUNITY STATEMENT IS PROVIDED TO CURRENT STUDENTS AND THE GREATER COLLEGE COMMUNITY IN THE COLLEGE CATALOG, WHICH IS AVAILABLE IN PRINT AND ON THE PALMER WEBSITE, AS WELL AS IN THE STUDENT HANDBOOK, WHICH IS DISTRIBUTED TO ALL STUDENTS DURING THE STUDENT ORIENTATION PROGRAM. SCHEDULE E, PART I, LINE 6 FINANCIAL AID OR ASSISTANCE IS RECEIVED FROM THE FOLLOWING GOVERNMENTAL AGENCIES: PELL GRANT PROGRAM SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS (SEOG) FEDERAL WORK STUDY PROGRAMS (FWS) PERKINS LOAN PROGRAM DEPARTMENT OF HEALTH AND HUMAN SERVICES (HHS) NATIONAL INSTITUTE OF HEALTH (NIH) HEALTH RESOURCES AND SERVICES ADMINISTRATION (HRSA) DEPARTMENT OF DEFENSE CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES - CLINIC ABROADPROGRAM SERVICES - CLINIC ABROAD STUDENTS TRAVEL TO BEQUIA TO PROVIDE CHIROPRACTIC CARE. 54182 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES - CLINIC ABROAD STUDENTS TRAVEL TO FIJI TO PROVIDE CHIROPRACTIC CARE. 334495 SOUTH ASIA 0 0 PROGRAM SERVICES - CLINIC ABROAD STUDENTS TRAVEL TO INDIA TO PROVIDE CHIROPRACTIC CARE. 290802 SOUTH AMERICA 0 0 PROGRAM SERVICES - CLINIC ABROAD STUDENTS TRAVEL TO BRAZIL TO PROVIDE CHIROPRACTIC CARE. 230222 0 0 0 0 0 0 909701 0 909701 0 0 0 0 0 0 PART I, LINE 3: EXPENDITURES ARE ACCOUNTED FOR UNDER THE ACCRUAL METHOD. THE REPORTED EXPENDITURES INCLUDE ALL STUDENT COSTS ASSOCIATED WITH THE CLINIC ABROAD PROGRAM SUCH AS AIRFARE, GROUND TRANSPORTATION, ACCOMODATIONS, MEALS, TRAVEL/HEALTH INSURANCE, AND OTHER ADDITIONAL COSTS. THE ORGANIZATION INVOICES STUDENTS FOR ALL REPORTED EXPENDITURES. THE ORGANIZATION'S GENERAL ADMINISTRATIVE AND OPERATIONAL COSTS RELATED TO THE CLINIC ABROAD PROGRAM ARE NOT TRACKED BY REGION AND ARE NOT INCLUDED IN THE REPORTED EXPENDITURES. X X X X X X 1 RONALD MULDER 2372 CARDINAL DR HOLLAND MI 49424 FUNDRAISING CONSULTING 0 0 47211 -47211 47211 -47211 AK AZ MD NH OR WA AL AR CA CT DE DC FL GA HI ID IL IN IA KS KY ME MN MS MO MT NE NV NJ NM NC ND OH OK PA RI SD TN TX UT VA VT WV WI WY 1 FOUNDATION FOR CHIROPRACTIC PROGRESS PO BOX 560 CARMICHAEL CA 95609 202137895 501(C)(6) 20200 N/A N/A GENERAL FUND - TO SUPPORT MISSION OF EDUCATING THE PUBLIC ON CHIROPRACTIC HEALTHCARE QUAD CITIES RUNNING CLUB INC 733 15TH AVE EAST MOLINE IL 61244 460467219 501(C)(3) 7500 N/A N/A SPONSORSHIP - MARATHON ROAD RUNNERS CLUB OF AMERICA 315 E GEORGE WASHINGTON BLVD DAVENPORT IA 52803 930708918 501(C)(3) 10000 N/A N/A SPONSORSHIP - BIX RACE & EXPO 2 1 EDUCATIONAL GRANTS 196 560870 N/A N/A SCHOLARSHIPS 282 1464644 N/A N/A BENEFITS (GRANTS) 10 246174 N/A N/A PART I, LINE 2: THE FOUNDATION MONITORS ELIGIBILITY FOR THESE AWARDS BY ASSESSING STUDENT RECORDS, FINANCIAL NEED AND ACADEMIC PERFORMANCE. THE SCHOLARSHIP COMMITTEE REVIEWS APPLICATIONS FOR AWARDS. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 DENNIS MARCHIORI DC PRESIDENT/CHANCELLOR 344675 0 64220 0 639 0 20800 0 19646 0 449980 0 0 0 THOMAS TIEMEIER CFO/TREASURER 186747 0 5000 0 2013 0 14972 0 16330 0 225062 0 0 0 KEVIN CUNNINGHAM DC VICE CHANCELLOR 165896 0 3000 0 3910 0 13808 0 19646 0 206260 0 0 0 CHRISTINE GOERTZ DC VICE CHANCELLOR 225599 0 30500 0 702 0 18372 0 17606 0 292779 0 0 0 PETER MARTIN DC PRESIDENT 221387 0 3000 0 4336 0 18032 0 14395 0 261150 0 0 0 WILLIAM MEEKER DC PRESIDENT 208952 0 20000 0 2031 0 17252 0 19646 0 267881 0 0 0 JAMES O'CONNOR VICE CHANCELLOR 147735 0 6000 0 994 0 6919 0 28 0 161676 0 0 0 ROBERT PERCUOCO DC VICE CHANCELLOR 170165 0 6000 0 2641 0 13966 0 17333 0 210105 0 0 0 DAN WEINERT DC PROVOST 176137 0 3000 0 1058 0 14761 0 21942 0 216898 0 0 0 MICKEY BURT EXECUTIVE DIRECTOR 123720 0 6000 0 2314 0 9740 0 12846 0 154620 0 0 0 DANA LAWRENCE SENIOR DIRECTOR 122384 0 4650 0 13668 0 10954 0 13326 0 164982 0 0 0 CYNTHIA LONG DIRECTOR 143192 0 6150 0 6648 0 11935 0 28 0 167953 0 0 0 IAN MCLEAN DC DIRECTOR 120016 0 46606 0 1447 0 9996 0 17876 0 195941 0 0 0 PART I, LINE 1A FIRST CLASS OR CHARTER TRAVEL - THERE IS A TRAVEL POLICY. FIRST CLASS TRAVEL IS NOT ADDRESSED AS IT IS NORMALLY NOT PERMITTED UNDER THAT POLICY. HOWEVER, THE CURRENT CHAIRMAN OF THE BOARD OF TRUSTEES IS A RESIDENT OF ANCHORAGE, ALASKA. THE RESPONSIBILITIES OF THIS POSITION REQUIRE MORE TRAVEL THAN REGULAR BOARD MEMBERS. FLIGHT SCHEDULES AND THE TIME ZONE DIFFERENCES ATTENDING REQUIRED MEETINGS OFTEN LEAVE LITTLE TIME FOR RECOVERY FROM THE FLIGHT AND MEETING PREPARATION. THEREFORE, AS APPROVED BY THE FULL BOARD OF TRUSTEES, THE CHAIRMAN AND ONLY THE CHAIRMAN IS ALLOWED TO FLY FIRST CLASS. CHARTER TRAVEL IS ALSO NOT ADDRESSED IN THE POLICY AS AIRLINE TRAVEL IS REIMBURSED AT THE LOWEST (COACH) FARE FOR A TRIP. HOWEVER, IF MULTIPLE INDIVIDUALS ARE TRAVELING TO THE SAME LOCATION FOR THE SAME MEETING AND CHARTER TRAVEL IS LESS EXPENSIVE THAN INDIVIDUAL AIRFARES THEN CHARTER TRAVEL IS ALLOWED. IN NORMAL YEARS, CHARTER TRAVEL IS ONLY ALLOWED ONCE OR TWICE A YEAR. TRAVELS FOR COMPANIONS - FOR ONE BOARD MEETING A YEAR, SPOUSES OF BOARD MEMBERS ARE INVITED TO ATTEND A BOARD MEETING. IF A SPOUSE ATTENDS, THE COLLEGE DOES REIMBURSE THE BOARD MEMBER FOR THE SPOUSE'S TRAVEL. HOWEVER, EACH BOARD MEMBER IS PROVIDED AN IRS FORM 1099 FOR THE COST OF THAT TRAVEL. 1099S WERE ISSUED DURING THE CURRENT YEAR. ON A LESS FREQUENT BASIS, SPOUSES OF EXECUTIVES ARE INVITED TO BOARD MEETINGS. THE COST OF THAT TRAVEL IS ADDED TO AN EMPLOYEE'S IRS FORM W-2. PART I, LINE 1B SEE EXPLANATION FOR PART 1A CHRISTINE GOERTZ VICE CHANCELLOR PAYROLL CONVERSION LOAN X 4472 3420 0 0 1 3420 ESTES CONSTRUCTION KENT PILCHER IS A BOARD MEMBER OF PALMER COLLEGE AND OFFICER OF ESTES 1425230 ESTES CONSTRUCTION PROVIDED SERVICES TO PALMER COLLEGE FOUNDATION 0 X 1 250 DONOR EVALUATION X 43288 DONOR EVALUATION X CHIROPRACTIC EQUIPMENT 13 24531 DONOR EVALUATION X MISCELLANEOUS 6 373 DONOR EVALUATION 0 0 0 PART I, COLUMN (B): COLUMN (B) IS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS ONE CLASS OF MEMBERS, DENOMINATED AS "CERTIFICATE HOLDERS." THE MEMBERS MEET AT LEAST ANNUALLY. SEE ADDITIONAL EXPLANATION OF RIGHTS AND DUTIES IN RESPONSE TO FORM 990, PART VI, LINES 7A AND 7B. FORM 990, PART VI, SECTION A, LINE 7A TRUSTEES SHALL BE CHOSEN BY BALLOT BY THE AFFIRMATIVE VOTE OF A MAJORITY OF THE MEMBERS, WITH THE MEMBERS VOTING EITHER IN PERSON OR BY PROXY. NOMINEES FOR CANDIDACY AS A TRUSTEE TO BE VOTED UPON BY MEMBERS SHALL BE PROVIDED TO THE MEMBERS BY THE TRUSTEE AND GOVERNANCE COMMITTEE OF THE BOARD OF TRUSTEES IN ACCORDANCE WITH THE FOLLOWING PROCEDURE: (A) THE EXECUTIVE DIRECTOR OF THE BOARD OF AFFAIRS AND ASSISTANT SECRETARY SHALL ON MAY 1ST AND NOT AFTER MAY 10TH IN EACH YEAR, NOTIFY EACH MEMBER OF THE BOARD OF TRUSTEES AND EACH MEMBER BY CERTIFIED MAIL OF THE NUMBER OF VACANCIES TO BE FILLED ON THE BOARD OF TRUSTEES AT THE ANNUAL MEETING OF MEMBERS. (B) EACH MEMBER OF THE BOARD OF TRUSTEES AND EACH MEMBER SHALL BE ENTITLED TO NOMINATE AS MANY NOMINEES AS THERE ARE VACANCIES ON THE BOARD OF TRUSTEES. (C) ALL PERSONS WHOSE NAMES HAVE BEEN PROVIDED SHALL BE EVALUATED BY THE TRUSTEE AND GOVERNANCE COMMITTEE. (D) THE NAMES OF ALL NOMINEES WHO HAVE BEEN PROPERLY SUBMITTED TO THE TRUSTEE AND GOVERNANCE COMMITTEE SHALL BE PRESENTED TO THE MEMBERS FOR CONSIDERATION. (E) AT THE ANNUAL MEETING OF THE MEMBERS, THE MEMBERS SHALL ELECT TRUSTEES FOR THE TERMS DETERMINED BY MEMBERS UPON A MAJORITY VOTE OF ALL THE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B THOSE PROVISIONS OF THE ARTICLES OF INCORPORATION AND/OR THE BYLAWS OF THE CORPORATION THAT AFFECT THE RIGHTS, POWERS AND/OR DUTIES OF THE MEMBERS, INCLUSIVE OF THE RIGHT TO ELECT MEMBERS AND TRUSTEES AND/OR DISSOLVE THE CORPORATION OR SELL ALL OF ITS ASSETS OR EFFECT A MERGER OR CONSOLIDATION, MUST BE APPROVED BY A MAJORITY VOTE OF ALL THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11 AFTER COMPLETION OF THE DRAFT OF THE FORM 990 BY AN EXTERNAL ACCOUNTING FIRM, THE FORM 990 DRAFT IS SHARED WITH THE VICE CHANCELLOR FOR ADMINISTRATION AND HIS STAFF FOR THEIR REVIEW AND CORRECTION OF ANY ERRORS. ONCE THOSE CORRECTIONS HAVE BEEN MADE, THE FORM 990 DRAFT IS SHARED WITH THE AUDIT COMMITTEE OF THE FOUNDATION'S BOARD OF TRUSTEES. THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES HAS BEEN DESIGNATED AS THE COMMITTEE TO REVIEW THE FORM 990 BEFORE IT IS FILED. THE AUDIT COMMITTEE AND VICE CHANCELLOR FOR ADMINSTRATION (TREASURER) WILL MEET TO REVIEW THE DRAFT FORM 990 WITH REPRESENTATIVES OF THE ACCOUNTING FIRM WHO COMPLETED THE DRAFT FORM 990, IF CONSIDERED NECESSARY. ONCE THE DRAFT HAS BEEN REVIEWED AND ANY CORRECTIONS MADE, COPIES OF THE FORM 990 WILL BE PROVIDED TO THE FULL BOARD OF TRUSTEES. ONCE BOARD RECEIPT HAS BEEN DETERMINED, THE TREASURER WILL SIGN AND FILE THE 990 WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C PALMER COLLEGE REQUIRES OFFICERS, DIRECTORS AND KEY EMPLOYEES TO COMPLETE AN ANNUAL FORM TO COMPLY WITH ITS CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD CONSIDERS SEVERAL SOURCES IN DETERMINING COMPENSATION FOR SENIOR ADMINISTRATORS SUCH AS THE ACC SURVEYS, CHRONICLE OF HIGHER EDUCATION SURVEYS, GUIDANCE FROM PROFESSIONAL COMPENSATION CONSULTANTS AND ALSO WITH SURVEYS CONDUCTED BY OUR HUMAN RESOURCES DEPARTMENT. THE BOARD OF TRUSTEES' EXECUTIVE COMMITTEE WHO, PERIODICALLY, DURING THE YEAR, MEETS TO REVIEW THE CHANCELLOR'S PERFORMANCE AND SETS THE CHANCELLOR'S COMPENSATION. ANNUALLY, THE CHANCELLOR MEETS WITH THE EXECUTIVE COMMITTEE OF THE BOARD TO REVIEW SALARIES OF THE SENIOR ADMINISTRATORS. THE CHANCELLOR SETS SENIOR ADMINISTRATORS' SALARIES WITH OVERSIGHT FROM THE BOARD OF TRUSTEES. DECISIONS ARE CONTEMPORANEOUSLY DOCUMENTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 PALMER COLLEGE DOES NOT MAKE ITS POLICIES, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: LOSS ON INTEREST RATE SWAP -81,219. NON CASH CONTRIBUTIONS -68,442. OTHER GRANTS TO ORGANIZATIONS 11,500. FORM 990, PART IV, LINE 12 AND PART XI, LINES 2B AND 2C-AUDITED FINL STMTS THE ORGANIZATION IS INCLUDED IN A CONSOLIDATED ENTITY AUDIT AND RECEIVES CONSOLIDATED GAAP FINANACIAL STATEMENTS ON AN ANNUAL BASIS FROM INDEPENDENT AUDITORS. THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. PALMER COLLEGE OF CHIROPRACTIC WEST 90 E TASMAN SAN JOSE CA 95134 942515428 EDUCATION CA 501(C)(3) LINE 2 PALMER COLLEGE FOUNDATION 1 PERRY HILL PROPERTIES ASSOCIATION 1000 BRADY STREET DAVENPORT IA 52803 421502549 HOUSING FOR STUDENTS IA 501(C)(3) LINE 9 PALMER COLLEGE FOUNDATION 1 DR DAVID D PALMER ATHLETIC TRUST 1000 BRADY STREET DAVENPORT IA 52803 274313852 FUND RAISING IA 501(C)(3) LINE 11A, I PALMER COLLEGE FOUNDATION 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 PALMER COLLEGE OF CHIROPRACTIC WEST Q 7565612 CASH DAVID D PALMER ATHLETIC TRUST C 115000 CASH