2016-02-12T12:32:57-07:00 2015-06-30 990 2014-07-01 370673513 KNOX COLLEGE KNOX 3093417212 2 E South Street Galesburg IL 614014999 Keith A Archer Treasurer 3093417212 2016-02-12 2014 2016-08-17 19:52:53Z TERESA L AMOTT 2 EAST SOUTH STREET OFFICE OF THE PRESIDENT GALESBURG IL 614014999 100788001 0 X www.knox.edu X 1837 IL Knox College is dedicated to providing a liberal arts education to students from diverse backgrounds. Our mission is carried out through: our curriculum, the character of our learning environment, our residential campus culture, and our community. 55 54 1621 700 65551 -5308 23280061 16127624 65158249 65918587 5114461 10069932 0 0 93552771 92116143 29310504 31339124 0 0 27710977 28459301 0 0 3140711 18354598 19715365 75376079 79513790 18176692 12602353 195133000 197820060 50706085 48221235 144426915 149598825 Knox College is dedicated to providing a liberal arts education to students from diverse backgrounds. Our mission is carried out through: our curriculum, the character of our learning environment, our residential campus culture, and our community. 0 0 68672333 31339124 65840011 Higher Education: Our mission is carried out through our curriculum, the character of our learning environment, our residential campus culture, and our community. Knox College has a tradition of free inquiry, independent thought, and diverse perspectives. Our students choose their own path toward a degree, guided by scholar teachers who encourage them to explore ideas and places, stretch their intellect and their talents, blend thought with action, and fuse imagination with initiative. Founded in 1837 by social reformers strongly opposed to slavery, Knox was one of the first colleges in the United States open to both women and people of color. It was on our campus that Abraham Lincoln chose to denounce slavery on moral terms for the first time, during the 1858 Lincoln-Douglas Debate. With a campus population that includes students from 48 states and 51 countries, 25% U.S. students of color, and individuals from every imaginable religious and socioeconomic background, members of the Knox community are actively challenged to broaden their points of view. Knox College is a college that changes lives. (1,376 Students) 0 0 0 68672333 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 1 1 1 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 X 1920 0 1621 1 1 1 1 FR SP UK 0 0 0 1 1 0 0 0 0 X 55 54 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 X Keith A Archer 3093417212 2 E South Street Galesburg IL 614014999 Anderson Thomas L Secretary to the Board 2.00 0 X 0 0 0 Andrew Laurel J Trustee 1 0 X 0 0 0 Bastian Joseph Trustee 1 0 X 0 0 0 Bayer Douglas Chair for Committee on Admission/Financial Aid 2 0 X 0 0 0 Bibb Harold D Life Trustee 0.25 0 X 0 0 0 Blew Susan Chair for Committee on Advancement 2 0 X 0 0 0 Carlin Nancy B Trustee 1 0 X 0 0 0 Castendyck Robert W Life Trustee 0.25 0 X 0 0 0 Cecil Jarvis B Life Trustee Chair Emeritus 0 0 X 0 0 0 Cusimano John S Trustee 1 0 X 0 0 0 DeGraff Deborah Trustee 1 0 X 0 0 0 Fridovich David P LTG Trustee 1 0 X 0 0 0 Frum Sandra E Life Trustee 0.25 0 X 0 0 0 Gibbs Charles Trustee 1 0 X 0 0 0 Glossberg Joseph B Trustee 1 0 X 0 0 0 Goossen Isabelle C Trustee 1 0 X 0 0 0 Graham Patrick F Life Trustee 0.25 0 X 0 0 0 Harmon Don Trustee 1 0 X 0 0 0 Hartog Elzelien Trustee 1 0 X 0 0 0 Hertko Joyce Trustee 1 0 X 0 0 0 Hinz Mary M Life Trustee 0.25 0 X 0 0 0 Jacobson Gary L Trustee 1 0 X 0 0 0 Jamieson Robert Life Trustee 0.25 0 X 0 0 0 Kerous Frank J Life Trustee 0.25 0 X 0 0 0 Kilts James M Life Trustee 0.25 0 X 0 0 0 Kleine Mark Chair for Committee on Facilities/Infrastructure 2 0 X 0 0 0 Koran Janet M Life Trustee Chair Emerita 0.25 0 X 0 0 0 Luetger Steven P Chair for Committee on Campus Life/Athletics 2 0 X 0 0 0 Lyn Patrick St Aubyn Trustee 1 0 X 0 0 0 Martin Dan M Life Trustee 0.25 0 X 0 0 0 Maskus Keith E Trustee 1 0 X 0 0 0 Masterson Joe A Life Trustee 0.25 0 X 0 0 0 Matkov George J Jr Trustee 1 0 X 0 0 0 Perille Ann Feldman Trustee 1 0 X 0 0 0 Petrovich Dushan Chair 2 0 X 0 0 0 Podesta John D Life Trustee 0.25 0 X 0 0 0 Potter James R Trustee 1 0 X 0 0 0 Procknow Eugene A Trustee 1 0 X 0 0 0 Ramanan Hariharan Trustee 1 0 X 0 0 0 Riddell Richard V Chair for Committee on Academic Affairs 2 0 X 0 0 0 Reilly Thomas V Trustee 1 0 X 0 0 0 Rosenberg Diane S Life Trustee Chair Emerita 0.25 0 X 0 0 0 Rosene Laura Trustee 1 0 X 0 0 0 Sampson Walter E Life Trustee 0.25 0 X 0 0 0 Schuler Tino H Trustee 1 0 X 0 0 0 Schulz David A Chair for Committee on Trustees 2 0 X 0 0 0 Sharry Janice Vyn Trustee 1 0 X 0 0 0 Smith Charles F Trustee 1 0 X 0 0 0 Sparks Robert Life Trustee 0.25 0 X 0 0 0 Stevenson Smith Fay Trustee 0.25 0 X 0 0 0 Tucker Caroline H Life Trustee 0.25 0 X 0 0 0 Vovis Gerald F Chair for Committee on Finance 2 0 X 0 0 0 Walter Ralph Trustee 1 0 X 0 0 0 Winning R Kyle Trustee 1 0 X 0 0 0 Amott Teresa L President 55 0 X 267496 0 13930 Behling Laura Vice President/Dean 40 0 X 174786 0 10498 Bailey Denise Secretary 40 0 X 47629 0 8423 Axtell Thomas B Treasurer/Vice President 40 0 X 190728 0 16511 Jones Vicky Assistant Secretary 40 0 X 54338 0 174 Hall Steve Vice President/Chief Information Officer 40 0 X 95312 0 19786 Holmes Beverly Vice President 40 0 X 151749 0 10850 Steenis Paul Vice President 40 0 X 128388 0 10042 Maurer Bobby Jo Controller/Assistant Treasurer 40 0 X 87412 0 8827 Breitborde Lawrence Professor 40 0 X 140712 0 14875 Wilson J Mark Assoc VP Major Gifts 40 0 X 122425 0 3927 Beck Diana Professor 40 0 X 109143 0 8324 McAndrew Frank Professor 40 0 X 102498 0 13184 1672616 0 139351 9 0 1 0 PJ Hoerr Inc 107 Commerce Place Peoria IL 616045285 Construction 7368006 Lake Flato Architects Inc 311 3rd Street San Antonio TX 78205 Architects 403418 IES Suite 2300 33 West Monroe Street Chicago IL 606035405 Off Campus Programs 336710 Associated Colleges of the Midwest Suite 800 11 East Adams St Chicago IL 60603 Off Campus Programs 304290 Generation Branding N0 121 231 Front Street Brooklyn NY 11201 Branding and Communication Consultants 293462 29 0 0 0 0 2241507 13886117 2549417 16127624 TUITION AND FEES 611310 54842840 54842840 0 0 AUXILIARY ENTERPRISES --CATERING 722320 78576 0 78576 0 AUXILIARY ENTERPRISES--PROGRAM 611710 9484935 9484935 0 0 1512236 1512236 0 0 65918587 2217370 0 -13025 2230395 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 16524420 0 8671858 0 7852562 0 7852562 0 0 7852562 0 0 92116143 65840011 65551 10082957 0 0 28143670 28143670 3195454 3195454 0 0 1330766 147886 1025610 157270 0 0 0 0 21157763 16260342 3176241 1721180 622110 455776 114469 51865 3866628 2900332 647526 318770 1482034 1085781 272696 123557 0 0 0 0 285963 0 285963 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2489756 1585865 803387 100504 39199 5188 25798 8213 5893445 5002647 366917 523881 375784 200490 175294 0 0 0 0 0 1506331 699432 806899 0 1345337 1197862 49869 97606 0 0 0 0 84069 49074 8162 26833 1304403 1047325 257078 0 0 0 0 0 3510356 2643355 867001 0 411103 117852 293251 0 Auxiliaries Bookstore/Food Svc. 2469619 2469619 0 0 Allocations--M&R, Admin.Exp. 0 1464383 -1475415 11032 0 0 0 0 79513790 68672333 7700746 3140711 3087372 2966156 15402934 7875901 6475125 1923062 659195 989401 0 0 0 0 0 0 202016 88922 480748 1208408 114037596 64450316 41861891 49587280 116969150 116519146 491125 699944 0 0 0 0 9503444 15961840 195133000 197820060 4425309 3108906 0 0 465507 404753 24700000 24700000 0 0 0 0 0 0 0 0 21115269 20007576 50706085 48221235 X 21700471 33406246 45488938 32535906 77237506 83656673 144426915 149598825 195133000 197820060 X 12602353 -8681943 0 0 0 1251500 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 X X X X 0 124428259 6302779 1469988 4421000 -2000 0 127782026 98752347 11130470 18787764 4155000 87322 0 124428259 84362700 7112866 11350743 3998073 75889 0 98752347 84085106 2153598 681058 2486588 70474 0 84362700 67435543 4393325 15004316 2756938 -8860 0 84085106 0.19 0.64 0.17 0 0 0 2204052 2204052 0 80291975 42891248 37400727 0 0 0 0 0 20812027 16673950 4138077 0 10729542 4885118 5844424 49587280 BENEFICIAL INTEREST IN PERPETUAL TRUST 12258510 STUDENT LOANS RECEIVABLE 3671011 DEPOSITS HELD IN TRUST 32319 15961840 0 LINE OF CREDIT FOR CAPITAL PURPOSES 7619942 STUDENT DEPOSITS 494097 DEPOSITS HELD IN CUSTODY FOR OTHERS 78711 ANNUITIES PAYABLE 1305408 POSTRETIREMENT BENEFIT OBLIGATION 2045437 FEDERAL EQUITY IN LOAN PROGRAMS 2078486 INTEREST RATE SWAPS LIABILITY 5393562 CAPITAL LEASE OBLIGATIONS 991933 20007576 X 52095076 -8681943 0 0 0 -8681943 60777019 0 31339124 31339124 92116143 48174666 0 0 0 0 0 48174666 0 31339124 31339124 79513790 Schedule D, Part III, Line 1 The College has collections of valuable artwork, papers, and other memorabilia that were donated to the College. These items are on display and are used by educators, researchers, historians, and others. However, all proceeds from any sales of collections, or items in a collection, must be used to acquire other items for collections. (From Note 1 Knox College Financial Statements and Independent Auditor's Report For the Year Ended June 30, 2015.) Schedule D, Part III, Line 4 The College has collections of valuable artwork, papers, and other memorabilia that were donated to the College. These items are on display and are used by educators, researchers, historians, and others. . (From Note 1 Knox College Financial Statements and Independent Auditor's Report For the Year Ended June 30, 2015.) Schedule D, Part V, Line 4 The College's endowment consists of several individual funds established for a variety of purposes: scholarships, professorships, library, lectureships, research, prizes, and donor specified educational activities. Included in these funds are both donor-restricted endowment funds and funds designated by the Board of Trustees to function as endowments. (From Note 20 of Knox College Financial Statements and Independent Auditor's Report For the Years Ended June 30, 2015.) Schedule D, Part X, Line 2 The College is a not-for-profit entity as described in Section 501(c)(3) of the Internal Revenue Code (IRC) and is exempt from federal income taxes on related income pursuant to Section 501(a) of the IRC. The College follows authoritative guidance issued by the Financial Accounting Standards Board (FASB) that clarifies the accounting for uncertainty in income taxes recognized in an entity's financial statements and prescribes a recognition threshold of more-likely-than-not to be sustained upon examination. Measurement of the tax uncertainty occurs if the recognition threshold has not been met. This guidance also addresses derecognition, classification, interest and penalties, disclosure, and transition. The College conducts business solely in the U.S. and, as a result, files information returns for U.S. and Illinois. In the normal course of business, the College is subject to examination by taxing authorities. The College's information returns for years subsequent to fiscal 2011 are open, by statute, for review by authorities. However, at present, there are no ongoing income tax audits or unresolved disputes with the various tax authorities that the College currently files or has filed with. Schedule D, Part XI, Line 4b Student Aid, Scholarships, and Prizes $31,339,124 Schedule D, Part XII, Line 4b Student Aid, Scholarships, and Prizes $31,339,124 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Knox College's nondiscrimination policy is clearly stated in the College catalog, website, admissions materials, applications, and other publications. Schedule E, Part I, Line 6 For the fiscal year, Knox College received awards from the following federal programs: Federal Work Study, Federal Direct Loan Program, Federal Supplemental Educational Opportunity Grant Program, Federal Pell Grant, Federal Perkins Loan Program, Student Support Services Program, McNair Post-Baccalaureate Achievement, Chapter 33 Post 911 GI Bill, National Science Foundation, and National Endowment for the Arts. 1 South America 1 1 Program Services In cooperation with the University of Palermo in Buenos Aires, Knox offers a term of accredited academic study specially designed to emphasize the social sciences and language. Program offerings vary, but recent courses have included: Introduction to Anthropology, Popular Culture in Latin America, Argentine Society, Social Thought, and Culture, Latin American Art, History of 20th Century Latin America, Politics and Government in Latin America, Evolution of Argentine Society, Latin American Literature, Advanced Spanish Language, and Social Cinema of Argentina. Courses are taught in Spanish by University of Palermo professors. All students take a language course (which includes two educational trips outside Buenos Aires, and several within the city) and pursue a combination of electives, mostly chosen from those offered by the program. 222169 Europe (including Iceland and Greenland) 1 2 Program Services Knox, in cooperation with the University of Barcelona, offers academic study in language, the humanities and the social sciences. Students pursue a combination of courses, all taught in Spanish by professors from the University of Barcelona. Some of the courses are fitted to the particular needs of program students; other courses are from the regular University curriculum offered to Spanish students. All students live in the homes of Spanish families in Barcelona. The program has a two-week trip throughout southern Spain during Winter Break as well as other shorter educational field trips. 410200 Europe (including Iceland and Greenland) 1 1 Program Services The Knox program is the principal American program at the University in Besancon. Besancon is a city of 120,000 people, with 20,000 students at the University. Participants take courses for foreign students in language and culture, plus several courses chosen from the regular University curriculum to meet individual needs. All courses are taught in French by the University of Besancon professors. Students with majors other than French may continue study in their major fields. All students stay with French families for the October orientation period, then live during the year or term in University dormitories with French and foreign students. 10736 3 4 643105 SCHOLARSHIPS East Asia and the Pacific 65 1118773 CREDIT TO STUDENT ACCOUNT 0 SCHOLARSHIPS Europe (including Iceland and Greenland) 12 244573 CREDIT TO STUDENT ACCOUNT 0 SCHOLARSHIPS North America (including Canada and Mexico, but not the United States) 10 294328 CREDIT TO STUDENT ACCOUNT 0 SCHOLARSHIP South America 10 244499 CREDIT TO STUDENT ACCOUNT 0 SCHOLARSHIPS South Asia 35 768649 CREDIT TO STUDENT ACCOUNT 0 SCHOLARSHIPS Sub-Saharan Africa 24 524632 CREDIT TO STUDENT ACCOUNT 0 0 0 0 0 0 0 Schedule F, Part I, Line 2 To remain at Knox, all degree-seeking students are expected to make satisfactory academic progress. Satisfactory progress is defined both in terms of the accumulation of credits toward the degree, and as the maintenance of a gradepoint average consistent with graduation requirements. The Financial Aid Office follows the decisions of the Academic Standing Committee in determining whether a student is meeting the College's satisfactory academic progress standards 1 INDIVIDUAL GIFT AID (GRANTS AND/OR SCHOLARSHIPS TO STUDENTS) 1236 28143670 0 Schedule I, Part I, Line 2 To remain at Knox, all degree-seeking students are expected to make satisfactory academic progress. Satisfactory progress is defined both in terms of the accumulation of credits toward the degree, and as the maintenance of a gradepoint average consistent with graduation requirements. The Financial Aid Office follows the decisions of the Academic Standing Committee in determining whether a student is meeting the College's satisfactory academic progress standards. X X 1 1 X X 0 0 0 0 0 0 0 0 0 Amott Teresa L President 267496 0 0 0 0 0 13930 0 12000 0 293426 0 0 0 Axtell Thomas B Treasurer/Vice President 190728 0 0 0 0 0 16510 0 0 0 207238 0 0 0 Behling Laura Vice President/Dean 174786 0 0 0 0 0 10498 0 0 0 185284 0 0 0 Holmes Beverly Vice President 151749 0 0 0 0 0 10851 0 0 0 162600 0 0 0 Schedule J, Part I, Line 1a Occasionally the President's husband will accompany the President on College fund raising events. The College provides funding for his travel costs. These travel costs are not considered compensation as he is participating in fundraising for the College. Reimbursements for travel cost must follow the College's purchasing and accounts payable policies. These policies include requirements for documentation and receipts. The President is provided housing by the College. The President's house is considered a part of the College's campus and is used for College events and entertaining. The President's housing is considered nontaxable as it is provided for the convenience of the College. Schedule J, Part I, Line 3 Compensation is reviewed annually. This review includes cost of living statistics, compensation paid for similar positions at other similar colleges, and compensation paid locally for like positions. A standard achievement increase is determined and is approved by the Board of Trustees during the June meeting in conjunction with the approval of the following year's budget. The Board of Trustees reviews the President's salary and approves any changes. All staff increases are reviewed by the President, Vice Presidents, and heads of departments. X 45 2549417 High Low Value Date of Gift 0 0 1 0 Form 990, Part V, Line 4a The College offers two off campus programs--one in France at the University in Besancon and the other in Spain at the University of Barcelona. Each program has bank accounts which are not considered part of the College's bank accounts as the College has no control over these accounts. Only the program directors have signature authority for their program's accounts. The College also has two bank accounts with Wells Fargo in London-- one for the Besancon Program and one for the Barcelona Program. Form 990, Part VI, Section B, Line 11b The 990 was reviewed by the Chair of the Audit Subcommittee and the Chair of the Committee on Finance. The 990 is made available to all College Trustees for review. Form 990, Part VI, Section B, Line 12c Officer's Conflict of Interest: Any conflict of interest on the part of an officer of the College designated in this article, or members of such officer's immediate family, shall be disclosed by the officer in writing to the Board of Trustees at least annually and made a matter of record. When any such interest becomes relevant to any subject requiring administration or Board of Trustees' action, the officer having a conflict shall call it to the attention of the President and, if the matter is being considered by the Board of Trustees or one of its committees, to the attention of the Board or such committee. The officer shall not participate in the discussion of the subject or make any recommendations regarding the subject in which the officer or a member of the officer's immediate family has a conflict of interest, and shall not use personal influence to affect the decision with respect to such subject. An officer of the College who is excluded from participating in discussions or making recommendations regarding the subject because of such conflict or interest shall, however, briefly state the nature of the conflict and shall be encouraged to answer pertinent questions of the Trustees when the officer's knowledge of the subject will assist the Board of Trustees, any of its committees or the administration. The minutes of any meeting attended by the interested officer at which the subject is discussed shall reflect that a disclosure was made and that the interested officer abstained from the discussion except to the extent provided above. (From Bylaws of Knox College) Form 990, Part VI, Section B, Line 13 Each year, during fall term, a memo is sent via e-mail to all employees reminding them of Knox College's "common sense approach to reporting fraud". Included in this message are instructions on how to report suspected fraud. This memo includes the following instructions: "If you suspect fraud, please immediately notify someone in a position of authority, for example, your supervisor, a department head, a dean or vice president, the president or trustee who chairs the Audit Subcommittee." Form 990, Part VI, Section B, Line 14 The College does not have a written document retention and destruction policy, however, record retention and destruction policies are developed, as needed, by each department to address their specific type(s) of records. Departments follow industry standards that are appropriate for their specific type(s) of records. In conjunction with record destruction for confidential records, the College contracted with a vendor to provide locked bins for departmental use and the secure destruction of these records. Form 990, Part VI, Section B, Line 15 Compensation is reviewed annually. This review includes cost of living statistics, compensation paid for similar positions at other similar colleges, and compensation paid locally for like positions. A standard achievement increase is determined and is approved by the Board of Trustees during the June meeting in conjunction with the approval of the following year's budget. The Board of Trustees reviews the President's salary and approves any changes. All staff increases are reviewed by the President, Vice Presidents, and heads of departments. Form 990, Part VI, Section C, Line 17 The College is not required to file a copy of Form 990 with the State of Illinois or any other state. Form 990, Part VI, Section C, Line 19 The Bylaws of the College are available on the College's website (www.knox.edu). Each fall, conflict of interest forms are distributed to trustees, officers, and department heads. Financial statements are available upon request to the Treasurer's Office. All trustees are provided copies of the financial statements each year. Form 990, Part XI, Line 9 CHANGE IN FAIR VALUE INTEREST RATE SWAPS ($587,259); POSTRETIREMENT BENEFITS $1,469,774; ADJUSTMENTS OF AMOUNTS DUE UNDER SPLIT INTEREST AGREEMENTS $110,037; CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST $258,948