2016-05-16T09:06:30-05:00 2015-06-30 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2014-07-01 381381271 HOPE COLLEGE HOPE 6163957810 141 E 12TH STREET HOLLAND MI 49423 THOMAS BYLSMA VICE PRESIDENT, CFO 6163957810 2016-05-13 1 CAROL LALONDE CPA P00181637 2695674500 2014 2016-08-17 19:52:53Z THOMAS BYLSMA 141 E 12TH STREET HOLLAND MI 49423 287109086 0 X WWW.HOPE.EDU X 1866 MI THE MISSION OF HOPE COLLEGE IS TO EDUCATE STUDENTS FOR LIVES OF LEADERSHIP AND SERVICE IN A GLOBAL SOCIETY THROUGH ACADEMIC AND CO-CURRICULAR PROGRAMS OF RECOGNIZED EXCELLENCE IN THE LIBERAL ARTS AND IN THE CONTEXT OF THE HISTORIC CHRISTIAN FAITH. 34 29 3501 31 983112 -238783 18350086 16512580 127967458 133024467 22682177 17821879 1647170 1690880 170646891 169049806 32732164 34590794 0 0 57493322 60609620 0 0 4895368 46726837 48981897 136952323 144182311 33694568 24867495 472505234 482846633 98383185 94683782 374122049 388162851 THE MISSION OF HOPE COLLEGE IS TO EDUCATE STUDENTS FOR LIVES OF LEADERSHIP AND SERVICE IN A GLOBAL SOCIETY THROUGH ACADEMIC AND CO-CURRICULAR PROGRAMS OF RECOGNIZED EXCELLENCE IN THE LIBERAL ARTS AND IN THE CONTEXT OF THE HISTORIC CHRISTIAN FAITH. 0 0 127779843 33443355 126122264 THE ORGANIZATION PROVIDED COMPREHENSIVE LITERACY & SCIENCE COURSES OF STUDY TO OVER 3,300 FULL TIME EQUIVALENT STUDENTS IN THE FALL OF 2014 AND 3,100 IN THE SPRING OF 2015. THE ORGANIZATION WAS ALSO INVOLVED IN ADMINISTRATIVE, AUXILLARY OPERATIONS & STUDENT SERVICES TO SUPPORT THE CAMPUS. 4384116 1147439 4327244 THE ORGANIZATION IS INVOLVED IN RESEARCH TO MAINTAIN ONE OF THE TOP CHEMISTRY & BIOLOGY DEPTS IN THE COUNTRY, UTILIZE RESEARCH AS A TEACHING TOOL IN THE CLASSROOM & TO FACILITATE LEARNING. 132163959 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 350 0 1 3501 1 1 1 0 0 0 0 1 1 0 0 0 0 X 34 29 0 0 1 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MI X THOMAS BYLSMA VICE-PRESIDENT CFO 6163957810 HOPE COLLEGE 141 E 12TH ST HOLLAND MI 49423 MARY V BAUMAN CHAIRPERSON 1.00 X X 0 0 0 MARK VAN GENDEREN VICE CHAIRPERSON 1.00 X X 0 0 0 JOHN C KNAPP PRESIDENT 40.00 X X 325338 0 68102 DAVID W LOWRY SECRETARY 1.00 X X 0 0 0 JEFFREY S ALLEN TRUSTEE 1.00 X 0 0 0 WILLIAM R BOERSMA TRUSTEE 1.00 X 0 0 0 DAVID M BAST TRUSTEE 1.00 X 0 0 0 ANTHONY R CASTILLO TRUSTEE 1.00 X 0 0 0 DAVID B CHARNIN TRUSTEE 1.00 X 0 0 0 DOUGLAS CONANT TRUSTEE 1.00 X 0 0 0 ANNIE G DANDAVATI TRUSTEE/PROFESSOR 40.00 X 97485 0 23857 BARBARA DEPREE TRUSTEE 1.00 X 0 0 0 NANCY DIRKSE DEWITT TRUSTEE 1.00 X 0 0 0 J LINDSEY DOOD TRUSTEE 1.00 X 0 0 0 KARL DROPPERS TRUSTEE 1.00 X 0 0 0 KENNETH W ERIKS TRUSTEE 1.00 X 0 0 0 BRIAN GIBBS TRUSTEE 1.00 X 0 0 0 DANIEL GORDON TRUSTEE 1.00 X 0 0 0 LISA C GRANGER TRUSTEE 1.00 X 0 0 0 TAYLOR W HOLBROOK TRUSTEE 1.00 X 0 0 0 JAMES L JURRIES TRUSTEE 1.00 X 0 0 0 BRENT KRUEGER TRUSTEE/PROFESSOR 40.00 X 94409 0 23929 MONICA NEWENDORP TRUSTEE 1.00 X 0 0 0 GERALD J PILLAY TRUSTEE 1.00 X 0 0 0 DOUGLAS C RUCH TRUSTEE 1.00 X 0 0 0 A PAUL SCHAAP TRUSTEE 1.00 X 0 0 0 SUZANNE L SHIER TRUSTEE 1.00 X 0 0 0 BETH A SNYDER TRUSTEE 1.00 X 0 0 0 DAVID L VAN ANDEL TRUSTEE 1.00 X 0 0 0 D SCOTT VAN OOSTENDORP TRUSTEE 1.00 X 0 0 0 JILL VER STEEG TRUSTEE 1.00 X 0 0 0 EMILIE D WIERDA TRUSTEE 1.00 X 0 0 0 LESLIE B WONG TRUSTEE 1.00 X 0 0 0 MARGARET WILLIT TRUSTEE 1.00 X 0 0 0 THOMAS BYLSMA CFO 40.00 X 193910 0 38905 RICHARD RAY PROVOST 40.00 X 186258 0 31817 RICHARD A FROST VP OF STUDENT DEVELOPMENT 40.00 X 153862 0 58254 WILLIAM VANDERBILT VP FOR ADMISSIONS 40.00 X 164390 0 32610 CARL E HEIDEMAN DIR OF PROCESS/INNOVATION 40.00 X 127033 0 28339 ROGER L VELDMAN FACULTY 40.00 X 126703 0 25882 PETER SCHAKEL FACULTY 40.00 X 141934 0 20145 GREG MAYBURY DIRECTOR-PHYS PLT 40.00 X 140927 0 45581 JOHN E LUNN FACULTY 40.00 X 126118 0 24955 JAMES E BULTMAN FORMER PRESIDENT 40.00 X 200000 0 0 2078367 0 422376 47 1 1 0 GO CONSTRUCTION 300 IONIA AVE NW GRAND RAPIDS MI 49503 CONSTRUCTION SERVICES 18178261 CREATIVE DINING SERVICE ONE ROYAL PARK DRIVE SUITE 3 ZEELAND MI 49464 FOOD SERVICE MANAGEMENT 9905831 BLUE CROSS-BLUE SHIELD MICHIGAN 86 MONROE CENTER NW GRAND RAPIDS MI 49503 HEALTH INSURANCE ADMINISTRATION 5797427 GDK CONSTRUCTION CO 12 WEST 8TH STREET SUITE 2 HOLLAND MI 49423 CONSTRUCTION SERVICES 2548806 PARKWAY ELECTRIC & COMMUNICATIONS LLC 11952 JAMES STREET HOLLAND MI 49424 ELECTRICAL SERVICES 431076 50 4279798 12232782 494555 16512580 TUITION & FEES 611600 99146714 99146714 AUXILIARY ENTERPRISES 611600 26630387 26630387 BOOKSTORE INCOME 611600 2965177 2965177 HAWORTH CONFERENCE CTR. 721000 2088753 515086 1573667 OTHER PROGRAM INCOME 900099 1392444 1392444 800992 314786 486206 133024467 1958591 1958591 133922568 118059280 15863288 15863288 15863288 OTHER REVENUE 900099 1690880 -18180 1709060 1690880 169049806 130449508 983112 21104606 34590794 34590794 1493125 1392152 51362 49611 47192180 42364946 2469977 2357257 3579941 3179617 224378 175946 5073633 4487136 308384 278113 3270741 2944415 157683 168643 116582 62941 53641 107979 107979 1369437 1369437 2724911 2222885 198964 303062 716080 455713 -48153 308520 4421514 4060399 89142 271973 1303927 1212187 57364 34376 4156003 4007191 75697 73115 3777579 3326391 104783 346405 603002 339147 260809 3046 1813095 1619094 164629 29372 7444616 6648042 675971 120603 496493 325329 166655 4509 FOOD SERVICE & LAUNDRY 9064308 8895195 45645 123468 TUITION WAIVERS 2544938 2272304 142235 130399 INVENTORY PURCHASES 2123270 1980699 72522 70049 OTHER MAINTENANCE & REP 1669756 1607160 31841 30755 4528407 4170222 342039 16146 144182311 132163959 7122984 4895368 41725416 49434140 39345467 28374633 9166217 7737323 785214 861256 1427459 1885007 297526990 102556572 174671386 194970418 63497892 62210860 141386279 137068353 499904 304643 472505234 482846633 5721516 5661295 1035213 299767 57030000 53255000 34596456 35467720 98383185 94683782 X 152082894 177733611 92294096 75387829 129745059 135041411 374122049 388162851 472505234 482846633 X 24867495 -9115788 -1710905 X X 0 1 X 1 1 1 X 17968215 22428742 21795997 18350086 16512580 97055620 17968215 22428742 21795997 18350086 16512580 97055620 9116213 87939407 1747744 1590936 1561389 1663374 1958591 8522034 -31171 -130334 -28622 40247 -238783 -388663 1397109 1709060 3106169 108295160 607931543 0.81200 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 260305 X X X 0 206199053 5730924 7702829 7846388 211786418 175036306 9937514 28400349 7175116 206199053 163587087 4318541 13857992 6727314 175036306 166265929 4482293 -813518 6347617 163587087 147340680 2892355 22269678 6236784 166265929 0.18060 0.63580 0.18360 0 0 23531672 23531672 209738402 83004931 126733471 29882571 19551641 10330930 34374345 34374345 194970418 LIMITED PARTNERSHIPS AND HEDGE FUNDS 83135760 F MORTGAGES, LAND CONTRACTS & OTHER 27107985 F PRIVATE EQUITY, ALTERNATIVES, OTHER 26824608 F 137068353 ANNUITIES PAYABLE & TRUSTS 7933856 ACCUMULATED POST-RETIREMENT BENEFITS 9418568 REFUNDABLE FEDERAL PERKINS LOAN ADVANCES 5903447 STUDENTS AND OTHER DEPOSITS 2044050 ACCRUED LIABILITIES 5403992 INTERST RATE SWAP 4763807 35467720 X 122271432 -9115788 8550 -1710905 -10818143 133089575 1369437 34590794 35960231 169049806 108230630 8550 8550 108222080 1369437 34590794 35960231 144182311 PART III, LINE 4: HOPE COLLEGE, THROUGH THE CONSTRUCTION (2004-05) OF THE MARTHA MILLER CENTER FOR INTERNATIONAL COMMUNICATIONS, HAS PURCHASED $79,000 IN PIECES OF ART THAT ARE ON PERMANENT DISPLAY IN THIS BUILDING. ALSO AS A PART OF PREPARING FOR THE OPENING OF HOPE'S KRUIZENGA ART MUSEUM (FALL 2015), HOPE'S DIRECTOR OF THE MUSEUM HAS BEEN ACQUIRING STRATEGIC PIECES OF ART TO PUT ON DISPLAY IN THE NEW ART GALLERY WHICH WILL ASSIST THE COLLEGE'S ART, HISTORY, AND CULTURAL HERITAGE COMPONENTS OF OUR CURRICULUM. PART X, LINE 2: THE COLLEGE IS A NOT-FOR-PROFIT CORPORATION AND HAS BEEN RECOGNIZED AS TAX-EXEMPT PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE COLLEGE AND RECOGNIZE A TAX LIABILITY IF THE COLLEGE HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE COLLEGE AND HAS CONCLUDED THAT AS OF JUNE 30, 2015, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE COLLEGE IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO JUNE 30, 2012. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGES IN VALUE OF SPLIT INTEREST AGREEMENT -303,771. CHANGE IN VALUE OF SWAP AGREEMENTS -1,123,467. CHANGE IN POST RETIREMENT -283,667. PART XI, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL SCHOLARSHIPS & FELLOWSHIPS 34,590,794. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL SCHOLARSHIPS & FELLOWSHIPS 34,590,794. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 RACIALLY NONDISCRIMINATORY POLICY STATEMENT IS INCLUDED ON VARIOUS PUBLICITY & POLICY STATEMENTS, INCLUDING OUR WEBSITE & TELEVISION ADS, AS WELL AS OUR CATALOG & STUDENT HANDBOOK, WHICH IS AVAILABLE UPON REQUEST. SCHEDULE E, PART I, LINE 6 HOPE COLLEGE RECEIVES GRANTS AND FINANCIAL AID FROM VARIOUS FEDERAL AND STATE AGENCIES THAT ARE USED IN THE FURTHERANCE OF THE COLLEGE'S EXEMPT PURPOSE OF PROVIDING QUALITY EDUCATION. EAST ASIA & PACIFIC DONOR-ALUMNI RELATIONS DONOR/ALUMNI VISITS 21392 EAST ASIA & PACIFIC PROGRAM SERVICES RESEARCH 3197 EAST ASIA & PACIFIC PROGRAM SERVICES STUDENT RECRUITMENT 661 EAST ASIA & PACIFIC PROGRAM SERVICES SUMMER TERM COURSES 7457 EUROPE DONOR-ALUMNI RELATIONS DONOR/ALUMNI VISITS 8754 EUROPE PROGRAM SERVICES SUMMER TERM COURSES 384363 EUROPE PROGRAM SERVICES RESEARCH 33024 EUROPE PROGRAM SERVICES STUDENT RECRUITMENT 2366 NORTH AMERICA DONOR-ALUMNI RELATIONS DONOR/ALUMNI VISITS 444 NORTH AMERICA PROGRAM SERVICES RESEARCH 7519 NORTH AMERICA PROGRAM SERVICES SUMMER TERM COURSES 4735 0 0 0 0 0 0 461214 12698 473912 1 0 1 0 1 0 1 SCHOLARSHIP - TUITION/BOOKS 2943 34590794 N/A N/A PART I, LINE 2: HOPE SCHOLARSHIP/GRANT FUNDS ARE DISBURSED TO THE RECIPIENT UPON PROOF OF ELIGILIBITY (I.E. FINANCIAL NEED OR ACADEMIC MERIT) AND UPON PROOF OF EXPENSE INCURRED. X X 0 0 X X X X 0 0 0 0 0 0 0 0 0 JOHN C KNAPP PRESIDENT 305250 0 0 0 20088 0 16301 0 51801 0 393440 0 0 0 THOMAS BYLSMA CFO 186670 0 0 0 7240 0 19683 0 19222 0 232815 0 0 0 RICHARD RAY PROVOST 182418 0 0 0 3840 0 18900 0 12917 0 218075 0 0 0 RICHARD A FROST VP OF STUDENT DEVELOPMENT 150022 0 0 0 3840 0 14910 0 43344 0 212116 0 0 0 WILLIAM VANDERBILT VP FOR ADMISSIONS 160550 0 0 0 3840 0 17115 0 15495 0 197000 0 0 0 CARL E HEIDEMAN DIR OF PROCESS/INNOVATION 127033 0 0 0 0 0 13471 0 14868 0 155372 0 0 0 ROGER L VELDMAN FACULTY 126703 0 0 0 0 0 11403 0 14479 0 152585 0 0 0 PETER SCHAKEL FACULTY 141934 0 0 0 0 0 14924 0 5221 0 162079 0 0 0 GREG MAYBURY DIRECTOR-PHYS PLT 137087 0 0 0 3840 0 14469 0 31112 0 186508 0 0 0 JOHN E LUNN FACULTY 126118 0 0 0 0 0 12895 0 12060 0 151073 0 0 0 JAMES E BULTMAN FORMER PRESIDENT 200000 0 0 0 0 0 0 0 0 0 200000 0 0 0 PART I, LINE 1A THE PRESIDENT IS REQUIRED TO LIVE ON CAMPUS AS PART OF HIS EMPLOYMENT WITH THE COLLEGE. INCLUDED IN NONTAXABLE BENEFITS IS THE FAIR MARKET VALUE OF THE USAGE OF THE PRESIDENT'S HOME WHICH IS VALUED AT $27,365. THE COLLEGE PROVIDES ANNUAL MEMBERSHIPS TO A LOCAL MARINA AND GOLF CLUB AS A WAY TO PROMOTE THE COLLEGE. THE VALUES OF THESE MEMBERSHIPS ARE $9,937 AND $6,800 REPSECTIVELY AND ARE SPLIT BETWEEN TAXABLE INCOME AND OTHER NON-TAXABLE INCOME ($4,338/$5,599) AND ($3,400/$3,400). A MICHIGAN FINANCE AUTHORITY 800595186 NONEAVAIL 2010-12-17 10200000 SEE PART VI 0 0 0 B THE ECONOMIC DEVELOPMENT CORPORATION OF THE COUNTY OF OTTAWA 386004883 NONEAVAIL 2011-12-14 10000000 SEE PART VI 0 0 0 C MICHIGAN FINANCE AUTHORITY 800595186 NONEAVAIL 2012-03-28 11220000 SEE PART VI 0 0 0 D MICHIGAN FINANCE AUTHORITY 800595186 NONEAVAIL 2013-08-08 16255000 SEE PART VI 0 0 0 A 4105000 10200000 10200000 1 0 1 1 B 2965000 10000000 1040 9998960 0 1 1 1 C 30000 11220000 5000000 6220000 2014 1 0 1 1 D 1260000 16255000 16255000 1 0 1 1 C 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 1 0 1 0 0 0 0 B 0 1 1 0 1 0 0 0 0 C 0 1 0 0 1 0 0 0 0 D 0 1 1 0 1 0 0 0 0 A 0 B 0 C 0 D 0 PART I, ROW A(1), COLUMN F: THE PURPOSE OF THE BONDS ISSUED ON DECEMBER 17, 2010 IS TO CURRENTLY REFUND THE MICHIGAN HIGHER EDUCATION FACILITIES AUTHORITY ("MHEFA") LIMITED OBLIGATION REVENUE REFUNDING BONDS (HOPE COLLEGE PROJECT), SERIES 1999, DATED MARCH 24, 1999. PART I, ROW B(1), COLUMN F: THE PURPOSE OF THE BONDS ISSUED ON DECEMBER 14, 2011 IS TO ADVANCE REFUND A PORTION OF THE MHEFA LIMITED OBLIGATION REVENUE BONDS (HOPE COLLEGE PROJECT), SERIES 2002A, DATED MAY 7, 2002 (THE "SERIES 2002A BONDS"). PART I, ROW C(1), COLUMN F: THE PURPOSE OF THE BONDS ISSUED ON MARCH 28, 2012 IS (A) TO CURRENTLY REFUND A PORTION OF THE SERIES 2002A BONDS, AND (B) TO PAY THE COSTS OF THE ACQUISITION, CONSTRUCTION, FURNISHING AND EQUIPPING OF STUDENT HOUSING FACILITIES AND THE RENOVATION, REFURNISHING AND RE-EQUIPPING OF DINING FACILITIES AT PHELPS HALL AND RELATED PARKING AND SITE IMPROVEMENTS. PART I, ROW D(1), COLUMN F: THE PURPOSE OF THE BONDS ISSUED ON AUGUST 8, 2013 IS TO CURRENTLY REFUND THE MHEFA VARIABLE RATE DEMAND LIMITED OBLIGATION REVENUE BONDS (HOPE COLLEGE PROJECT), SERIES 2002B, DATED MAY 7, 2002. PART I, ROW A(2), COLUMN F: THE PURPOSE OF THE BONDS ISSUED ON MAY 28, 2015 (THE "SERIES 2015 BONDS") IS TO CURRENTLY REFUND THE MICHIGAN HIGHER EDUCATION FACILITIES AUTHORITY ("MHEFA") VARIABLE RATE DEMAND LIMITED OBLIGATION REVENUE AND REVENUE REFUNDING BONDS (HOPE COLLEGE PROJECT), SERIES 2004, DATED JULY 28, 2004 (THE "SERIES 2004 BONDS"). THE SERIES 2004 BONDS WERE ISSUED (A) TO CURRENTLY REFUND (I) A PORTION OF THE MHEFA LIMITED OBLIGATION REVENUE AND REVENUE REFUNDING BONDS, SERIES 1994 (HOPE COLLEGE PROJECT), DATED JUNE 16,1994 (THE "SERIES 1994 BONDS"), AND (II) THE MHEFA LIMITED OBLIGATION REVENUE BONDS (HOPE COLLEGE PROJECT), SERIES 1996B, DATED JUNE 4, 1996 (THE "SERIES 1996 BONDS"), (B) TO PAY THE COST OF CONSTRUCTING, EQUIPPING, AND FURNISHING THE DEVOS FIELD HOUSE AND THE MARTHA MILLER CENTER FOR GLOBAL COMMUNICATIONS, AND RENOVATING GRAVES HALL, LUBBER HALL AND THE DOW CENTER, (C) TO PAY CAPITALIZED INTEREST ON THE NEW MONEY PORTION OF THE BONDS, AND (D) TO PAY THE COSTS OF ISSUING AND SECURING THE BONDS. PART III(1), LINE 3A(C): THERE IS A FOOD SERVICE CONTRACT THAT QUALIFIES FOR THE SAFE HARBOR UNDER REV. PROC. 97-13. PART III(2), LINE 3A(A): THERE IS A FOOD SERVICE CONTRACT THAT QUALIFIES FOR THE SAFE HARBOR UNDER REV. PROC. 97-13. PART III(1): PART III IS NOT COMPLETED FOR COLUMN A, COLUMN B, THE PORTION OF THE COLUMN C THAT IS ALLOCATED TO REFUNDING THE SERIES 2002A BONDS AND COLUMN D, ALL OF WHICH RELATE TO BONDS WHICH WERE ISSUED BEFORE 2003 OR REFUNDED BONDS ISSUED BEFORE 2003. PART III(2): PART III IS NOT COMPLETED FOR THE PORTION OF COLUMN A WHICH IS ALLOCATED TO THE PORTION OF THE SERIES 2015 BONDS WHICH REFUNDED THE PORTION OF THE SERIES 2004 BONDS WHICH REFUNDED THE SERIES 1994 BONDS AND THE SERIES 1996 BONDS, BOTH OF WHICH WERE ISSUED PRIOR TO 2003. PART IV(1), LINE 2B(C): IT HAS NOT YET BEEN DETERMINE WHETHER THE BONDS ISSUED ON MARCH 28, 2012 WILL QUALIFY FOR AN EXCEPTION TO REBATE. A MICHIGAN FINANCE AUTHORITY 800595186 NONEAVAIL 2015-05-28 13940000 SEE PART VI 0 0 0 A 13940000 13940000 1 0 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 0 A 0 1 1 0 1 0 0 0 0 A 0 LUMIR CORPORATION MS. EMILIE WIERDA IS A BOARD MEMBER AND THE DAUGHTER OF AN OWNER OF LUMIR 264969 MS. EMILIE WIERDA IS A BOARD MEMBER OF HOPE COLLEGE AND IS THE DAUGHTER OF ELSA PRINCE BROEKHUIZEN WHO IS THE MAJORITY OWNER OF LUMIR CORPORATION FROM WHOM THE COLLEGE RENTS STUDENT HOUSING. 0 FLEETWOOD GROUP MR. DOUGLAS RUCH IS A BOARD MEMBER AND PRESIDENT/CEO OF FLEETWOOD GROUP 184306 MR. DOUGLAS RUCH IS A BOARD MEMBER OF HOPE COLLEGE AND IS THE PRESIDENT/CEO OF FLEETWOOD GROUP WHICH SUPPLIES LABRATORY FURNITURE AND FIXTURES TO HOPE. 0 CREATIVE DINING SERVICES MR. RICHARD FROST IS A KEY EMPLOYEE OF HOPE COLLEGE AND THE CHAIRPERSON 9905831 MR. RICHARD FROST IS THE CHAIRPERSON OF CREATIVE DINING SERVICES. FINANCIAL ARRANGEMENT IS COMPETITIVELY PRICED. COSTS INCLUDE FOOD SERVICE MANAGEMENT OF $300,000 AND FOOD SERVICE COSTS OF $9,605,831. 0 X 1 855 FMV X 57 566445 NYSE - FMV X WATERFOWL COLLECTION 1 2990 FMV X OTHER 11 2943 FMV 0 1 1 PART I, LINE 32B: THE ORGANIZATION USES A STOCK BROKER TO SELL SECURITIES SHORTLY AFTER RECEIPT. FORM 990, PART VI, SECTION A, LINE 4 HOPE COLLEGE AMENDED ITS BYLAWS DURING THE FISCAL YEAR WHICH INCLUDED THE FOLLOWING SIGNIFICANT CHANGES: 1. THE BOARD OF TRUSTEES SHALL NOW BE COMPOSED OF NO FEWER THAN 27 PERSONS. 2. THE AT-LARGE MEMBERS SHALL NOT BE COMPOSED OF MORE THAN 10 MEMBERS. 3. TRUSTEES MUST ATTEND THE MEETINGS IN PERSON IN ORDER TO BE CONSIDERED PRESENT AT THE ANNUAL OR REGULAR BOARD MEETINGS FOR QUORUM PURPOSES. 4. THE AUDIT AND COMPLIANCE COMMITTEE EXPANDED ITS DUITIES TO INCLUDE ADDRESSING AND EVALUATING COMPLIANCE ISSUES. FORM 990, PART VI, SECTION B, LINE 11 MEMBERS OF THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES ARE PROVIDED WITH A REASONABLE OPPORTUNITY TO REVIEW AND COMMENT TO EXECUTIVE LEADERSHIP ON THE FORM 990 OF HOPE COLLEGE BEFORE IT IS FILED WITH THE INTERNAL REVENUE SERVICE. FURTHER, THE EXECUTIVE LEADERSHIP OF HOPE COLLEGE PROVIDES THE MINUTES OF THE AUDIT COMMITTEE FORM 990 REVIEW TO THE BOARD OF TRUSTEES SHOWING AN OVERVIEW OF THE HIGHLIGHTS AT THE NEXT REGULARLY SCHEDULED BOARD MEETING FOLLOWING THE FILING OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE BOARD OF TRUSTEES PREPARE AND SIGN CONFLICT STATEMENTS ANNUALLY. THESE STATEMENTS ARE REVIEWED AND PROVIDED TO TRUSTEE MEMBERS AT THE OCTOBER BOARD OF TRUSTEE MEETING TO ENSURE COMPLIANCE WITH THE CONFLICT POLICY. MEMBERS OF THE COMMITTEE WITH A PERSONAL INVOLVEMENT IN A PARTICULAR DECISION WILL EXCUSE THEMSELVES FROM DISCUSSION LEADING TO A DECISION AND FROM THE DECISION ITSELF, AND THIS DISCLOSURE AND ABSENCE WILL BE NOTED IN THE MINUTES OF THE MEETING. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES (BOT) APPROVES A RECOMMENDED COMPENSATION INCREASE BROUGHT TO THE BOT FROM THE CFO. THE COMPENSATION INCREASE IS HIGHLY CORRELATED TO THE TUITION INCREASE APPROVED FOR THE FOLLOWING ACADEMIC YEAR. THE RATES RECOMMENDED ARE DETERMINED BY LOOKING AT THE FOLLOWING FACTORS: COST OF LIVING (CPI), CUPA (COLLEGE AND UNIVERSITY PERSONNEL ASSOCIATION) SURVEYS, AND THE LAKESHORE HUMAN RESOURCES MANAGEMENT ASSOCIATION SURVEYS - WHICH IS A CHAPTER OF THE SOCIETY OF HUMAN RESOURCES MANAGEMENT (SHRM). SINCE WE ARE NOT A UNION" SCHOOL WE DO NOT HAVE DELIBERATION BUT IF DISCUSSION DOES OCCUR DURING THE BOT APPROVAL PROCESS, IT WOULD BE DOCUMENTED IN THE BOT MINUTES FOR THAT SPECIFIC MEETING. THE CEO'S (PRESIDENT'S) COMPENSATION IS BASED UPON A RECOMMENDATION FROM THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES AND IS THEN APPROVED BY THE FULL BOARD OF TRUSTEES. COMPARISON DATA IS USED ALONG WITH EVALUATION OF PERFORMANCE IN THEIR DECISION. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION MAKES FORM 990 AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN SPLIT VALUE INTEREST AGREEMENTS -303,771. CHANGE IN POST RETIREMENT -283,667. CHANGE IN VALUE OF SWAP AGREEMENTS -1,123,467. FORM 990, PART XII, LINE 2C: THE OVERSIGHT PROCESS FOR THE AUDIT HAS NOT CHANGED SINCE LAST YEAR.