2016-01-29T08:18:42-06:00 2015-06-30 383635706 REHMANN ROBSON LLC 555 BRIARWOOD CIRCLE 300 ANN ARBOR MI 48108 990 2014-07-01 381393841 CLEARY UNIVERSITY CLEA 5175483670 3750 CLEARY DRIVE HOWELL MI 48843 JAYSON BOYERS PRESIDENT 5175483670 2016-01-26 1 KATHLEEN M UNDERHILL CPA P00589677 7347612005 2016-01-26 2014 2016-04-25 22:37:26Z X JAYSON BOYERS 3750 CLEARY DRIVE HOWELL MI 48843 12759011 0 X WWW.CLEARY.EDU X 1883 MI PROVIDE PRACTICAL SKILLS AND VALID CREDENTIALS TO ADVANCE STUDENTS' BUSINESS CAREERS. 26 26 222 15 -1774 -26168 1530249 1640881 6760722 6923310 6079 484149 343003 92425 8640053 9140765 1265166 1695568 0 0 3816996 3985482 0 0 83638 3472840 3710949 8555002 9391999 85051 -251234 18569076 17733438 8448449 7870489 10120627 9862949 TO ENRICH STUDENTS' LIVES THROUGH THE KNOWLEDGE, SKILLS, AND CREDENTIALS THAT ADVANCE CAREERS. 0 0 4904134 1695568 6917442 OPERATION OF UNIVERSITY & INSTRUCTION COST 4904134 1 1 0 0 0 0 0 1 0 1 1 0 0 1 0 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 1 882 0 1 222 1 1 1 0 0 0 0 0 0 0 0 0 X 26 26 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X JUDY WALKER 5175483670 3750 CLEARY DRIVE HOWELL MI 48843 RAYMOND KING III CHAIR 2.00 X 0 0 0 DANTE BALLARIO VICE CHAIR 2.00 X 0 0 0 DOUGLAS RITTER SECRETARY 2.00 X 0 0 0 MILTON WEIDMAYER TREASURER 2.00 X 0 0 0 JOHN KUDERIK VICE TREASURER 2.00 X 0 0 0 GLYNIS MCBAIN OFFICER-AT-LARGE 2.00 X 0 0 0 FRANK FIKE OFFICER-AT-LARGE 2.00 X 0 0 0 DAVID ITSELL OFFICER-AT-LARGE 2.00 X 0 0 0 CAROL ALEXANDER OFFICER-AT-LARGE 2.00 X 0 0 0 PATRICK CLEARY II TRUSTEE 2.00 X 0 0 0 TIM CODD TRUSTEE 2.00 X 0 0 0 WILLIAM DAVIS JR TRUSTEE 2.00 X 0 0 0 STANLEY DICKSON TRUSTEE 2.00 X 0 0 0 JOHN EDWARDS TRUSTEE 2.00 X 0 0 0 ANDREW EGGAN TRUSTEE 2.00 X 0 0 0 PAUL GOBEILLE TRUSTEE 2.00 X 0 0 0 R JAMES GORENFLO TRUSTEE 2.00 X 0 0 0 MARGARET BORYCZKA GUPTA TRUSTEE 2.00 X 0 0 0 JOHN KLEE TRUSTEE 2.00 X 0 0 0 NINA MCCLELLAND TRUSTEE 2.00 X 0 0 0 ANNE MCKENNY TRUSTEE 2.00 X 0 0 0 BRET MILLER TRUSTEE 2.00 X 0 0 0 DANIEL MILSTEIN TRUSTEE 2.00 X 0 0 0 JOHN MOYER TRUSTEE 2.00 X 0 0 0 RICH PERLBERG TRUSTEE 2.00 X 0 0 0 IAN SCHONSHECK TRUSTEE 2.00 X 0 0 0 THOMAS SULLIVAN PRESIDENT & CEO 40.00 X 184992 0 19954 JUDITH L WALKER VICE PRES FINANCE & ADMIN 40.00 X 107740 0 9212 MATTHEW BENNETT VICE PRES COMMUNICATION 40.00 X 101000 0 16786 393732 0 45952 3 0 1 0 0 117386 1523495 738900 1640881 TUITION AND FEES 611600 6775100 6775100 OTHER PROGRAM SERVICE 611600 148210 146890 1320 6923310 36149 36149 95146 0 95146 95146 95146 1147327 2850000 1150735 2398592 -3408 451408 448000 448000 28121 23200 4921 4921 38077 45719 -7642 -4548 -3094 9140765 6917442 -1774 584216 1695568 1695568 451307 128991 322316 3002111 2035372 960739 6000 90012 55959 34053 203474 142383 61091 238578 148320 90258 11457 150 11307 60695 60695 569137 19689 549448 388963 40252 348711 248118 26302 221816 218706 497 218209 163533 15045 148488 50664 5113 45551 93986 93986 710719 710719 100817 100817 OTHER 516441 237415 208774 70252 BOOKS & PERIODICALS 295987 246286 49701 BOOKSTORE EXPENSES 98428 98428 BAD DEBT EXPENSE 74245 66859 7386 109053 8364 100689 9391999 4904134 4404227 83638 349357 832244 1021705 1594820 324292 259818 140258 156268 58302 68069 113157 227324 17447590 5590106 11822799 11857484 860599 602105 3878607 2135306 18569076 17733438 1341904 1141810 1202183 1067980 5904362 5660699 8448449 7870489 X 7980822 7264744 1057800 1476526 1082005 1121679 10120627 9862949 18569076 17733438 -251234 -6444 0 X 0 0 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 738900 738900 X 0 2900900 58015 26192 21086 2964021 2829391 55204 31805 15500 2900900 2821368 61730 -12511 41197 2829391 2676823 73829 93997 23283 2821368 2528387 67757 110699 30020 2676823 0.50300 0.37800 0.11900 0 0 1026127 1026127 12310865 3002269 9308596 1200691 373594 827097 2828783 2214243 614540 81124 81124 11857484 ARTWORK 1112963 ART HELD FOR RESALE 323150 CHARITABLE REMAINDER UNITRUST INTEREST 500757 DEPOSIT WITH TRUSTEE 51 BOND ISSUANCE COSTS, NET 198385 2135306 X 7518821 -6444 -1615500 -1621944 9140765 0 9140765 7776499 -1615500 -1615500 9391999 0 9391999 PART III, LINE 4: ARTHUR SECUNDA ART WORK - THE UNIVERSITY IS CREATING THE ARTHUR SECUNDA MUSEUM AT ITS LIVINGSTON CAMPUS. THE MUSEUM WILL ENHANCE THE VISIBILITY, REPUTATION AND EDUCATIONAL MISSION OF CLEARY UNIVERSITY BY REINFORCING THAT THE UNIVERSITY IS A SOPHISTICATED INSTITUTION IN WHICH STUDENTS CAN PLACE THEIR CONFIDENCE. THE ADDITION OF THE MUSEUM WILL FACILITATE STUDY IN THE FIELD OF ARTS MANAGEMENT, EXAMINATION OF THE ARTIST AS ENTREPRENEUR, AND THE USE OF THE ART TO STIMULATE CREATIVITY AMONG THE BUSINESS STUDENTS. PART V, LINE 4: THE INTENDED USE OF THE TERM AND PERMANENT ENDOWMENT FUNDS IS TO FUND STUDENT SCHOLARSHIPS. THE QUASI-ENDOWMENT FUND MAY BE USED AS A RESERVE OR IN CASE OF EMERGENCY FOR THE OPERATIONS OF THE UNIVERSITY. PART X, LINE 2: THE UNIVERSITY HAS EVALUATED ITS INCOME TAX FILING POSITIONS FOR FISCAL YEARS 2011 THROUGH 2015, THE YEARS WHICH REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS AS OF JUNE 30, 2015. THE UNIVERSITY CONCLUDED THAT THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION IN THE UNIVERSITY'S FINANCIAL STATEMENTS. THE UNIVERSITY DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS ("UTB") (E.G., TAX DEDUCTIONS, EXCLUSIONS, OR CREDITS CLAIMED OR EXPECTED TO BE CLAIMED) TO SIGNIFICANTLY CHANGE IN THE NEXT TWELVE MONTHS. THE UNIVERSITY DOES NOT HAVE ANY AMOUNTS ACCRUED FOR INTEREST AND PENALTIES RELATED TO UTB'S AT JUNE 30, 2015 OR 2014, AND ARE NOT AWARE OF ANY CLAIMS FOR SUCH AMOUNTS BY FEDERAL OR STATE INCOME TAX AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 43,586. SPECIAL EVENTS EXPENSES 23,200. GRANTS & SCHOLARSHIPS -1,673,469. COST OF GOODS SOLD - CATALOGUES 2,133. WRITEDOWN OF INVESTMENT -10,950. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 43,586. SPECIAL EVENTS EXPENSES 23,200. GRANTS & SCHOLARSHIPS -1,673,469. COST OF GOODS SOLD - CATALOGUES 2,133. WRITEDOWN OF INVESTMENT -10,950. 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 AVAILABLE ON THE SCHOOL'S WEBSITE. SCHEDULE E, PART I, LINE 6 CLEARY UNIVERSITY PARTICIPATES IN STUDENT AID PROGRAMS SUPPORTED BY THE DEPARTMENT OF EDUCATION. AUCTION 27921 27921 717 6859 6525 8801 27921 27921 717 6859 6525 8801 22902 5019 1 VA MILITARY GRANT 20 90640 CLEARY INSTITUTIONAL GRANT 24 17767 CLEARY SCHOLARSHIP 2 8000 COMMUNITY COLLEGE & ALUMNI DISCOUNT 7 34930 NEXT STEP GRANT 8 11079 WILBURN M. BARWICK SCHOLARSHIP 4 5666 ROBERT & BESS COOK ENDOWED SCHOLARSHIP 1 1000 SULLIVAN ENDOWED SCHOLARSHIP 4 5000 GRADUATE ASSISTANT GRANT 7 60516 RITA & CHARLES GELMAN UNDERGRADUATE SCHOLARSHIP 1 2000 MARJORY CLEARY MCKENNY & ARTHUR MCKENNY 1 2000 ATHLETIC SCHOLARSHIP 126 708620 ATHLETIC HOUSING SCHOLARSHIP 80 185406 ADMISSIONS HONORS SCHOLARSHIP 29 151060 ADMISSIONS TRANSFER SCHOLARSHIP 38 112950 CLEARY BUSINESS PARTNER SCHOLARSHIP 140 252624 INTERNATIONAL CPT PROGRAM SCHOLARSHIP 21 36890 COMMUNITY PARTNERS MATCHING GRANT 5 4000 ALUMNI ASSOCIATION ANNUAL ENDOWED SCHOLARSHIP 1 1920 R. B. LYONS ENDOWED SCHOLARSHIP 2 1000 LLOYD & MABEL JOHNSON ENDOWED SCHOLARSHIP 1 500 RITA & CHARLES GELMAN GRADUATE SCHOLARSHIP 1 2000 PART I, LINE 2: THE GRANTS AND SCHOLARSHIPS AWARDED BY CLEARY UNIVERSITY ARE USED TO PAY TUITION AND FEE CHARGES ON STUDENT ACCOUNTS. THE UNIVERSITY IS ABLE TO MONITOR WHETHER RECIPIENTS REMAIN STUDENTS AT THE UNIVERSITY THROUGH THE REGISTRAR'S OFFICE, AND CLASS ATTENDANCE TAKEN BY PROFESSORS. X 1 1 X X 0 0 0 0 0 0 0 0 0 THOMAS SULLIVAN PRESIDENT & CEO 184992 0 0 0 0 0 0 0 19954 0 204946 0 0 0 A CLEARY UNIVERSITY 381393841 594519J84 2006-06-07 5335000 CAPITAL EXPENDITURES 0 0 0 A 1030000 5335000 379242 262230 4693528 2007 0 0 1 1 A 0 0 1 0 0 0.02500 0.02500 0 0 0 A 0 0 0 0 1 0 0 0 0 A 0 THOMAS SULLIVAN PRESIDENT & CEO EXECUTIVE BENEFIT PLAN X 110000 156268 0 1 1 156268 X 150 738900 INDEPENDENT APPRAISER 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY THE FINANCE COMMITTEE PRIOR TO BEING FILED AND IS RECOMMENDED BY THEM TO THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS AND EMPLOYEES ARE ASKED ABOUT ANY CONFLICT OF INTEREST BASED ON THE CONFLICT OF INTEREST POLICY. IF A CONFLICT EXISTS, THE ASSOCIATION WITH THE CONFLICTING INTEREST IS DISCONTINUED OR THE BOARD MEMBER OR EMPLOYEE IS NOT SELECTED TO SERVE. FORM 990, PART VI, SECTION B, LINE 15 WE ESTABLISH A BENCHMARK FOR EVERY EMPLOYEE POSITION BASED ON ONE OF THE FOLLOWING: CUPA - HR - COLLEGE & UNIVERSITY PROFESSIONAL ASSOCIATION - HUMAN RESOURCES SALARY SURVEY RESULTS OR GAASHRM - GREATER ANN ARBOR SOCIETY FOR HUMAN RESOURCE MANAGEMENT SALARY SURVEY RESULTS. EVERY EMPLOYEE POSITION IS COMPARED TO A SIMILAR POSITION IN ONE OF THESE SURVEYS (CUPA IS USED IF A POSITION MATCH EXISTS) THE AVERAGE SALARY FOR LIKE INSTITUTIONS OR SIMILAR SIZED NON-PROFITS IS USED AS OUR BENCHMARK WITH A MARGIN OF 15% ON EITHER SIDE OF THE AVERAGE TO ESTABLISH OUR SALARY "RANGE" FOR THE POSITION. ACTUAL SALARY FOR AN EMPLOYEE IS BASED ON EXPERIENCE AND EMPLOYMENT DURATION THAT MOVES ONE'S SALARY UP WITHIN THE SALARY RANGE. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.