2016-05-12T13:51:13-05:00 2015-06-30 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2014-07-01 381366958 SIENA HEIGHTS UNIVERSITY SIEN 5172647108 1247 EAST SIENA HEIGHTS DRIVE ADRIAN MI 49221 LEE JOHNSON PHD CPA SR VICE PRESIDENT 5172647108 2016-05-06 1 CAROL LALONDE CPA P00181637 2695674500 2014 2016-08-17 19:52:53Z SR PEG ALBERT OP PHD 1247 EAST SIENA HEIGHTS DRIVE ADRIAN MI 49221 57150086 0 X WWW.SIENAHEIGHTS.EDU X 1919 MI TO PROVIDE STUDENTS WITH A LIBERAL ARTS EDUCATION WITH THE PURPOSE OF ASSISTING PEOPLE IN BECOMING MORE COMPETENT, PURPOSEFUL AND ETHICAL THROUGH A TEACHING AND LEARNING ENVIRONMENT WHICH RESPECTS THE DIGNITY OF ALL. 30 26 1157 29 51112 1206 8395895 14456455 40177511 42222575 146330 155261 189126 283030 48908862 57117321 15904416 16711239 0 0 20383319 21379798 0 0 957225 11597694 13079950 47885429 51170987 1023433 5946334 63357684 71373924 23680260 25580257 39677424 45793667 THE MISSION OF SIENA HEIGHTS UNIVERSITY, A CATHOLIC UNIVERSITY FOUNDED AND SPONSORED BY THE ADRIAN DOMINICAN SISTERS, IS TO ASSIST PEOPLE TO BECOME MORE COMPETENT, PURPOSEFUL, AND ETHICAL THROUGH A TEACHING AND LEARNING ENVIRONMENT WHICH RESPECTS THE DIGNITY OF ALL. 0 0 44003333 16711239 42186318 SIENA HEIGHTS UNIVERSITY IS A MICHIGAN PRIVATE NON-PROFIT CORPORATION FOR POSTSECONDARY EDUCATION. THE UNIVERSITY PROVIDES EDUCATION WITH A MAIN CAMPUS, SATELLITE CAMPUSES, AND ONLINE FOR BOTH TRADITIONAL AND NONTRADITIONAL STUDENTS OFFERING BACHELOR AND MASTER DEGREE PROGRAMS. THE MAIN CAMPUS ALSO OFFERS AUXILIARY SERVICES IN THE FORM OF HOUSING, MEAL PLANS, AND BOOKSTORE SERVICES. THE UNIVERSITY IS PRIMARILY SUPPORTED THROUGH TUITION, FEDERAL AND STATE GRANTS, AND CONTRIBUTIONS FOR OPERATIONS AND SCHOLARSHIPS. 44003333 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 1 1 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 1 1 1 1 1 0 0 0 1 0 0 0 1 79 0 1 1157 1 1 1 0 0 0 0 1 1 0 0 0 0 X 30 26 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MI X J LEE JOHNSON PHD CPA 5172647108 1247 EAST SIENA HEIGHTS DRIVE ADRIAN MI 49221 SR PEG ALBERT OP PHD PRESIDENT 40.00 0.00 X X 219345 0 57469 SR ROSEMARY ABRAMOVICH TRUSTEE 1.00 0.00 X 0 0 0 BETTY CUMMINGS TRUSTEE - THROUGH 10/14 1.00 0.00 X 0 0 0 MICHAEL DAWSON MD TRUSTEE 1.00 0.00 X 0 0 0 JAMES EBBITT TRUSTEE 1.00 0.00 X 0 0 0 SUSAN EDWARDS TRUSTEE 1.00 0.00 X 0 0 0 SR MARIANNE FAHLMAN TRUSTEE 1.00 0.00 X 0 0 0 MICHAEL FARVER TRUSTEE 1.00 0.00 X 0 0 0 JUDITH FRANCOEUR TRUSTEE 1.00 0.00 X 0 0 0 STEVEN FUTRELL TRUSTEE 1.00 0.00 X 0 0 0 MICHELE GARDNER MD TRUSTEE 1.00 0.00 X 0 0 0 DOUG GRAY TRUSTEE - AS OF 2/15 1.00 0.00 X 0 0 0 RICHARD HALLER TRUSTEE 1.00 0.00 X 0 0 0 MARGARET HARTMAN TRUSTEE 1.00 0.00 X 0 0 0 JOHN HERN JR TRUSTEE 1.00 0.00 X 0 0 0 SCOTT HILL SECRETARY 1.00 0.00 X X 0 0 0 SR CANDANCE INTROCASO CDP PHD TRUSTEE 1.00 0.00 X 0 0 0 FRANK JOHNSON VICE CHAIRPERSON 1.00 0.00 X X 0 0 0 MICHAEL L KAPNICK TRUSTEE 1.00 0.00 X 0 0 0 JOHN LABRIOLA TRUSTEE 1.00 0.00 X 27066 0 0 MAJOR RUTH LAFONTAINE TRUSTEE 1.00 0.00 X 0 0 0 TATINANA MASYK TRUSTEE - AS OF 2/15 1.00 0.00 X 0 0 0 DAVID G MENGEBIER TRUSTEE - THROUGH 10/14 1.00 0.00 X 0 0 0 REGINALD MOORE TRUSTEE 1.00 0.00 X 0 0 0 SR FRANCES NADOLNY OP PHD TRUSTEE 1.00 40.00 X 0 0 0 HONORABLE MARGARET MS NOE CHAIRPERSON 1.00 0.00 X X 4164 0 0 LISA OBERLIN TRUSTEE 1.00 0.00 X 0 0 0 JAMIE T RICHARDSON TRUSTEE - THROUGH 10/14 1.00 0.00 X 0 0 0 DAVID RICHMOND TRUSTEE 1.00 0.00 X 0 0 0 IQBAL ROSHD TRUSTEE 1.00 0.00 X 0 0 0 SR CORINNE SANDERS OP EDD TRUSTE - THROUGH 10/14 1.00 40.00 X 0 0 0 KRIS SCHMIDT TRUSTEE - THROUGH 10/14 1.00 0.00 X 0 0 0 SR MARY SOHER OP TRUSTEE 1.00 0.00 X 0 0 0 SR JOAN MARIE WEITHMAN OP TRUSTEE 1.00 0.00 X 0 0 0 J LEE JOHNSON PHD CPA SR VP FOR BUSINESS AND FIN 40.00 0.00 X 136587 0 37431 MITCHELL BLONDE VP FOR ADVANCEMENT 40.00 0.00 X 109449 0 38055 SHARON WEBER OP VP FOR ACADEMIC AFFAIRS 40.00 0.00 X 117749 0 21821 GEORGE WOLF VP FOR ENROLLMENT 40.00 0.00 X 95444 0 36080 SUE IDCZAK DIRECTOR OF NURSING 40.00 0.00 X 100431 0 0 PATRICIA MCDONALD OP PROFESSOR 40.00 0.00 X 117749 0 0 RICHARD ARTMAN FORMER PRESIDENT 0.00 0.00 X 161555 0 0 1089539 0 190856 7 1 1 0 CHARTWELLSCOMPASS GROUP PO BOX 91337 CHICAGO IL 60693 FOOD SERVICE 1684084 KRIEGHOFF LENAWEE CONSTRUCTION MANAGEMEN PO BOX 100 ADRIAN MI 49221 CONSTRUCTION MANAGEMENT 321756 COLLABORATIVE INC 500 MADISON TOLEDO OH 43604 ARCHITECTURE 182542 SPECTRUM EDU SOLUTIONS LLC 311 ARSENAL ST WATERTOWN MA 02472 ADMISSIONS MANAGEMENT 165840 TWG SOLUTIONS LLC 4330 GAINES RANCH LOOP AUSTIN TX 78735 MARKETING 121439 7 40414 19099 6911850 7485092 830321 14456455 TUITION AND FEES 611710 36955748 36955748 AUXILIARY 611710 5184152 5184152 CONFERENCES & CAMPS 721210 82675 31563 51112 42222575 165437 165437 14855 0 14855 14855 14855 10176 -10176 -10176 -10176 21111 40414 22589 -1478 -1478 MISCELLANEOUS 900099 269653 269653 269653 57117321 42186318 51112 423436 16622094 16622094 89145 89145 888399 132685 435423 320291 14958900 12878789 1701266 378845 805756 670934 133936 886 3518797 2914809 634089 -30101 1207946 1015566 191281 1099 57538 57538 94167 94167 37334 37334 3752990 2511387 1219850 21753 288962 247873 42874 -1785 274487 214099 52897 7491 76452 58588 16271 1593 2671 2349 278 44 1715532 1411599 275898 28035 527094 409566 59374 58154 523684 470833 45602 7249 2442577 1945244 429116 68217 359220 292641 59954 6625 ACTIVITIES 1452840 1291334 138791 22715 BAD DEBT 301478 301478 DUES AND SUBSCRIPTIONS 261218 97109 142051 22058 REPAIRS AND MAINTENANCE 193614 165613 24312 3689 718092 561076 116649 40367 51170987 44003333 6210429 957225 1480573 5750716 3455697 3625361 1104316 1338115 62275 103041 1141229 989808 73742101 25493391 45248993 48248710 10482054 10904696 0 382547 413477 63357684 71373924 2562728 2750515 1522839 1586362 18131336 18404185 890587 2342977 572770 496218 23680260 25580257 X 28242571 32751463 4552010 4852134 6882843 8190070 39677424 45793667 63357684 71373924 X 5946334 257205 -87296 X X 0 1 X 1 1 1 X 12790553 13603733 7979362 8395895 14416455 57185998 12790553 13603733 7979362 8395895 14416455 57185998 8911984 48274014 207821 138983 285198 164559 180292 976853 409191 362868 480832 197670 290764 1741325 59904176 187506020 0.80590 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING EVENTS - 2010 AMOUNT: $ 42,271. 2011 AMOUNT: $ 29,590. 2012 AMOUNT: $ 31,203. 2013 AMOUNT: $ 28,445. 2014 AMOUNT: $ 21,111. MISCELLANEOUS - 2010 AMOUNT: $ 113,162. 2011 AMOUNT: $ 108,340. 2012 AMOUNT: $ 331,696. 2013 AMOUNT: $ 169,225. 2014 AMOUNT: $ 269,653. GAMING - 2010 AMOUNT: $ 253,758. 2011 AMOUNT: $ 224,938. 2012 AMOUNT: $ 117,933. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10161942 393136 423805 335032 10643851 8707563 235980 1585987 367588 10161942 7958387 156489 1014000 353828 34534 32951 8707563 8273882 181646 -163453 331191 2497 7958387 6818538 326693 1204017 1158 74208 8273882 0.00000 0.68360 0.31640 0 0 1650 1018399 1020049 439132 46960764 12658677 34741219 600839 600839 21200947 12834714 8366233 40680 3479690 3520370 48248710 ANNUITIES PAYABLE 25533 CONDITIONAL ASSET RETIREMENT OBLIGATION 162142 FAIR VALUE OF INTEREST RATE SWAP 308543 496218 X 40647725 257205 -64707 192498 40455227 16662094 16662094 57117321 34531482 22589 22589 34508893 16662094 16662094 51170987 PART V, LINE 4: THIS ENDOWMENT IS USED BY THE ORGANIZATION TO PROVIDE SCHOLARSHIPS TO QUALIFIED INDIVIDUALS. PART X, LINE 2: THE UNIVERSITY 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 UNIVERSITY AND RECOGNIZE A TAX LIABILITY IF THE UNIVERSITY 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 UNIVERSITY AND HAS CONCLUDED THAT AS OF JUNE 30, 2015 AND 2014, 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 UNIVERSITY 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: UNREALIZED LOSS ON INTEREST RATE SWAP 58,013. CHANGE IN FAIR VALUE OF PLEDGES RECEIVABLE -145,309. FUNDRAISING EXPENSE NETTED AGAINST REVENUE 22,589. PART XI, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL STUDENT AID 16,622,094. GRANT RECEIVED NETTED AGAINST EXPENSE 40,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE NETTED AGAINST INCOME 22,589. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL STUDENT AID 16,622,094. GRANTS TO INTERNATIONAL INSTITUTIONS 40,000. 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 POLICY IS PUBLICIZED ON ADMISSIONS BROCHURES AND COURSE CATALOGS, AS WELL AS ON THE UNIVERSITY'S WEBSITE WHICH IS AVAILABLE TO THE PUBLIC. SCHEDULE E, PART I, LINE 6 SIENA HEIGHTS UNIVERSITY RECEIVES FEDERAL FUNDS FOR FINANCIAL AID FOR ITS STUDENTS AND TRIO PROGRAM FUNDS FOR THREE FEDERAL PROGRAMS. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAMS 49145 SUB-SAHARAN AFRICA 0 0 GRANTS TO RECIPIENTS SCHOLARSHIPS 40000 0 0 0 0 0 0 89145 0 89145 SUB-SAHARAN AFRICA SCHOLARSHIPS FOR NEEDY STUDENTS, NURSING TEXTBOOKS, NURSING SKILLS EQUIPMENT/LAB 40000 WIRE TRANSFER CASH CENTRAL AMERICA AND THE CARIBBEAN TUITION PAYMENT FOR STUDY ABOARD PROGRAMS 49145 WIRE TRANSFER CASH 1 0 0 0 0 0 0 0 SUMMER SPECTACULAR EVENT SCHOLARSHI 61525 40414 21111 6099 10806 830 4854 61525 40414 21111 6099 10806 830 4854 22589 -1478 1 SCHOLARSHIP - TUITION/BOOKS 2040 16622094 N/A N/A X X X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 SR PEG ALBERT OP PHD PRESIDENT 204345 0 15000 0 0 0 0 0 57469 0 276814 0 0 0 J LEE JOHNSON PHD CPA SR VP FOR BUSINESS AND FIN 136587 0 0 0 0 0 0 0 37431 0 174018 0 0 0 RICHARD ARTMAN FORMER PRESIDENT 161555 0 0 0 0 0 0 0 0 0 161555 0 0 0 PART I, LINE 1A THE PRESIDENT OF THE UNIVERSITY LIVES IN A HOUSE THAT IS OWNED BY THE UNIVERSITY. ALL EXPENSES, INCLUDING UTILITIES AND HOUSEKEEPING, ARE PAID BY THE UNIVERSITY. THE PRESIDENT IS TAX-EXEMPT DUE TO HER RELIGIOUS STATUS. LEE JOHNSON AND MITCH BLONDE RECEIVED TAX INDEMNIFICATION AND GROSS-UP PAYMENTS THAT WERE TREATED AS TAXABLE COMPENSATION. THE UNIVERSITY PAID FOR A MEMBERSHIP TO ADRIAN COUNTRY CLUB FOR MITCH BLONDE. THE MEMBERSHIP WAS USED FOR BUSINESS ONLY, THEREFORE IT WAS NOT TREATED AS TAXABLE COMPENSATION. A ECONOMIC DEVELOPMENT CORP OF THE COUNTY OF LENAWEE SERIES 2009 521302758 526010ADF 2009-04-28 8700000 TO FINANCE REFUNDING FOR SERIES 2006 BONDS 0 0 0 B ECONOMIC DEVELOPMENT CORP OF THE COUNTY OF LENAWEE SERIES 2010 521302758 2010-12-21 15434000 CONSTRUCTION 0 0 0 C ECONOMIC DEVELOPMENT CORP OF THE COUNTY OF LEWANEE SERIES 2013 521302758 2013-12-01 7500000 CONSTRUCTION 0 0 0 A 8700000 273375 8426625 2009 1 0 1 1 B 11536300 289650 11246650 2013 0 0 1 1 C 7500000 188125 1115286 2016 0 0 0 1 A 0 0 0 0 1 0 1 B 0 1 1 1 0 0.01000 0.01000 1 0 1 C 0 0 0 0 1 0 1 A 1 1 1 FIRST AMERICAN BANK 10.000000000000 0 0 0 0 1 B 0 1 0 0 1 1 PNC BANK NA 7.750000000000 0 0 0 0 1 C 0 1 0 0 1 0 0 0 1 A 1 B 1 C 0 34070 SCHOLARSHIPS FINANCIAL AID KRIEGHOFF LENAWEE COMPANIES TRUSTEE 2040294 SCOTT HILL IS A STOCKHOLDER OF KRIEGHOFF LENAWEE COMPANIES. KRIEGHOFF LENAWEE PROVIDED CONSTRUCTION SERVICES FOR THE ORGANIZATION. 0 KAPNICK INSURANCE TRUSTEE 264654 MIKE KAPNICK THE CFO/COO OF KAPNICK INSURANCE GROUP. KAPNICK INSURANCE PROVIDES INSURANCE AND FLEX SPENDING SERVICES. 0 CINDY HILL WIFE OF SCOTT HILL, TRUSTEE 35343 CINDY HILL RECEIVED COMPENSATION AS THE WOMEN'S LACROSSE COACH. 0 X 1 793920 OUTSIDE APPRAISAL X 1955 PRICE OF TSHIRTS X 1 3100000 COST X AUCTION MATERIALS/SUPPLIES 208 33197 FAIR MARKET VALUE X ATHLETIC EQUIPMENT 1 1249 FAIR MARKET VALUE 2 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 SCOTT HILL HAS A BUSINESS RELATIONSHIP WITH THE FOLLOWING INDIVIDUALS: SR. CORINNE SANDERS, OP, ED.D., MIKE KAPNICK AND MICHAEL FARVER. KRIS SCHMIDT AND MIKE KAPNICK HAVE A BUSINESS RELATIONSHIP. IGNACIO SALAZAR AND STEVE FUTRELL HAVE A BUSINESS RELATIONSHIP. RICHARD HALLER AND MIKE KAPNICK HAVE A BUSINESS RELATIONSHIP. DAVID RICHMOND AND MITCH BLONDE HAVE A BUSINESS RELATIONSHIP. DAVID MENEGEBIER HAS A BUSINESS RELATIONSHIP WITH SR. PEG ALBERT, MICHELE GARDNER, SCOTT HILL, MICHAEL KAPNICK, THE HONORABLE MARGARET NOE, SR. CORINNE SANDERS AND KRIS SCHMIDT. STEVE FUTRELL AND REGGIE MOORE ARE BROTHER-IN-LAWS. MIKE KAPNICK HAS AN INDIVIDUAL AND BUSINESS RELATIONSHIP WITH JUDITH FRANCOEUR, MARGARET NOE, AND KRIS SCHMIDT. MIKE KAPNICK HAS A BUSINESS RELATIONSHIP WITH SCOTT HILL, RICHARD HALLER, AND MICHELE GARDNER. MIKE KAPNICK AND MITCH BLONDE HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF THE CORPORATION IS ADRIAN DOMINICAN SISTERS. FORM 990, PART VI, SECTION A, LINE 7A THE ADRIAN DOMINICAN SISTERS HAVE THE EXCLUSIVE RIGHT TO ELECT TRUSTEES TO THE BOARD OF TRUSTEES AND REMOVE ANY TRUSTEE AT ANY TIME IF THEY BELIEVE IT IS IN THE BEST INTEREST OF THE CORPORATION TO DO SO. FORM 990, PART VI, SECTION A, LINE 7B THE ADRIAN DOMINICAN SISTERS HAVE THE EXCLUSIVE RIGHT TO EXERCISE THE RESERVED POWERS BESTOWED UPON THEM PURSUANT TO THE SIENA HEIGHTS UNIVERSITY BYLAWS. THESE RESERVED POWERS INCLUDE THE FOLLOWING: (A)APPROVE THE MISSION, PURPOSES AND PHILOSOPHY OF THE CORPORATION; (B)ELECT TRUSTEES TO THE BOARD OF TRUSTEES IN ACCORDANCE WITH THE PROCEDURES SET FORTH IN ARTICLE V, SECTION 3; (C)REMOVE ANY TRUSTEE AT ANY TIME IF THEY BELIEVE IT IS IN THE BEST INTEREST OF THE CORPORATION TO DO SO; (D)REVIEW AND COMMENT ON ALL ANNUAL OPERATING AND CAPITAL BUDGETS DEVELOPED BY THE BOARD OF TRUSTEES PRIOR TO THEIR ADOPTION BY THE BOARD, AND ALL NON-BUDGETED OPERATING EXPENSES AND CAPITAL EXPENDITURES IN EXCESS OF AN AMOUNT DETERMINED FROM TIME TO TIME BY THE MEMBERS; (E)AUTHORIZE AND/OR APPROVE ANY INCURRENCE, ASSUMPTION, OR GUARANTEE OF DEBT IN EXCESS OF AN AMOUNT DETERMINED FROM TIME TO TIME BY THE MEMBERS; (F)AUTHORIZE AND/OR APPROVE THE ENCUMBRANCE, SALE, LEASE OR OTHER DISPOSITION OF ANY REAL ESTATE OR THE SALE OF ALL OR SUBSTANTIALLY ALL OF THE CORPORATION'S ASSETS; (G)AUTHORIZE AND/OR APPROVE CONTRACTS THAT CALL FOR EXPENDITURES OF SUMS IN EXCESS OF AN AMOUNT DETERMINED FROM TIME TO TIME BY THE MEMBERS; (H)AUTHORIZE AND/OR APPROVE THE MERGER OR CONSOLIDATION OF THE CORPORATION WITH OR INTO ANOTHER ENTITY; (I)APPOINT AND REAPPOINT THE PRESIDENT, AND REMOVE THE PRESIDENT IF THEY BELIEVE IT IS IN THE BEST INTEREST OF THE CORPORATION TO DO SO; (J)REMOVE OTHER OFFICERS OF THE CORPORATION IF THEY BELIEVE IT IS IN THE BEST INTEREST OF THE CORPORATION TO DO SO; (K)AUTHORIZE AND/OR APPROVE THE CREATION OF SUBSIDIARIES OR AFFILIATES OF THE CORPORATION OR THE CORPORATION'S PARTICIPATION IN JOINT VENTURES; (L)AUTHORIZE AND/OR APPROVE ANY AMENDMENTS TO THE CORPORATION'S ARTICLES OF INCORPORATION AND/OR BYLAWS AFTER CONSULTING WITH THE BOARD OF TRUSTEES; AND (M)AUTHORIZE AND/OR APPROVE THE DISSOLUTION OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 WAS PRESENTED TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO BEING SUBMITTED TO THE IRS. QUESTIONS AND COMMENTS WERE SOLICITED FROM THE BOARD TO ENSURE THE COMPLETENESS AND ACCURACY OF THIS FORM. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES COMPLETE WRITTEN CONFLICTS ANNUALLY. DIFFERENT STANDING COMMITTEES OF THE BOARD OF TRUSTEES MONITOR AND REVIEW CONFLICTS OF INTEREST FOR KEY EMPLOYEES AND TRUSTEES ANNUALLY. IF A CONFLICT ARISES, THE TRUSTEE SHALL ABSTAIN FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION FOR THE PRESIDENT IS DETERMINED BY A SUB-COMMITTEE (COMPENSATION COMMITTEE) OF THE BOARD OF TRUSTEES. THIS COMMITTEE MEETS AFTER THE PERFORMANCE REVIEW IS COMPLETED FOR THE PRESIDENT. IF A RAISE IS WARRANTED, THE PRESIDENT CAN DECLINE BASED ON UNIVERSITY DETERMINATION OF INCREASES FOR THE ENTIRE STAFF. COMPENSATION FOR ALL EMPLOYEES IS COMPARED TO CUPA STANDARDS AND ANNUAL RAISES FOR THE COMMUNITY AT-LARGE IS DETERMINED BY THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES. FISCAL YEAR 2013 WAS THE MOST RECENT YEAR THIS PROCESS WAS UNDERTAKEN. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ORGANIZATIONAL DOCUMENTS AVAILABLE AT THE SIENA HEIGHTS UNIVERSITY LIBRARY AND THROUGH THE UNIVERSITY'S WEBSITE. FURTHER, ALL ORGANIZATIONAL DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: UNREALIZED GAIN ON VALUE OF INTEREST RATE SWAPS 58,013. CHANGE IN FAIR VALUE OF PLEDGED RECEIVABLES -145,309. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. ADRIAN DOMINICAN SISTERS 1257 E SIENA HEIGHTS DR ADRIAN MI 49221 CATHOLIC RELIGIOUS ORDER MI 501(C)(3) LINE 1 N/A 0 0 0 1 0 1 0 0 1 0 0 1 0 0 0 0 1 0 0 0 ADRIAN DOMINICAN SISTERS P 238653 ACTUAL EXPENSES INCURRED