2015-02-16T14:00:08-06:00 2014-06-30 CROWE HORWATH LLP 3815 RIVER CROSSING PARKWAY SUITE 300 INDIANAPOLIS IN 462400977 990 2013-07-01 350868086 FRANKLIN COLLEGE OF INDIANA FRAN 3177388000 101 Branigin Blvd Franklin IN 46131 DANIEL SCHLUGE VP FOR BUSINESS & FINANCE 2015-02-13 true Nicole Bencik P00756195 3175698989 2013 2016-03-07 17:11:31Z FRANKLIN COLLEGE JAMES G MOSELEY 101 Branigin Blvd Franklin IN 46131 64783176 false X WWW.FRANKLINCOLLEGE.EDU X 1834 IN FRANKLIN COLLEGE SHALL ATTAIN EXCELLENCE AS A LIBERAL ARTS TEACHING AND LEARNING UNDERGRADUATE COMMUNITY. THE COLLEGE SHALL MOTIVATE AND PREPARE ITS GRADUATES FOR LIVES OF EXCELLENCE, LEADERSHIP, & SERVICE. 38 35 970 50 -110627 -115824 3246413 3823541 32017848 31647021 4530496 4804615 101279 80029 39896036 40355206 12502135 12565010 0 0 15050523 15590863 0 21704 1431404 13037128 12686217 40589786 40863794 -693750 -508588 141309216 145308639 17670315 15567932 123638901 129740707 X FRANKLIN COLLEGE SHALL ATTAIN EXCELLENCE AS A PERSONAL, PARTICIPATORY, VALUES-FOCUSED, CAREER-SENSITIVE, LIBERAL ARTS TEACHING AND LEARNING UNDERGRADUATE COMMUNITY. THE COLLEGE SHALL MOTIVATE AND PREPARE ITS GRADUATES FOR PRODUCTIVE AND SATISFYING LIVES OF EXCELLENCE, LEADERSHIP AND SERVICE. true false 16256003 25786494 INSTRUCTION - DESIGNING AND DELIVERING THE ACADEMIC CURRICULUM FOR UNDERGRADUATE STUDENTS. 12565010 12565010 SCHOLARSHIPS - GRANTS TO STUDENTS TO REDUCE STUDENTS' COST OF ATTENDANCE. 7766734 5886737 STUDENT SERVICES - ACTIVITIES RELATED TO STUDENTS' LIVES OUTSIDE THE CLASSROOM. THIS INCLUDES: STUDENT AFFAIRS, RESIDENCE LIFE, COLLEGE CHAPLAIN, ADMISSIONS, FINANCIAL AID OFFICE, ACADEMIC RECORDS, AND ATHLETICS. 36587747 true true false false false false true true true true true false false true true true false true false true false false true true false false false true true true false false false false false false true false false true true false false false false true false false false false true 1453 0 true 970 true true true false false false false true true false false false false X 38 35 true false false false false false false true true false false true true true true true true true false false IN X Daniel Schluge 3177388027 101 BRANIGIN BLVD Franklin IN 46131 CHRISTINE FIELDS CHAIR OF THE BOARD 2.00 X X 0 0 0 DEVIN ANDERSON VICE CHAIR 2.00 X X 0 0 0 JAMES DUE VICE CHAIR 2.00 X X 0 0 0 JAMES NAPOLITAN VICE CHAIR 2.00 X X 0 0 0 JOHN AULD JR VICE CHAIR 2.00 X X 0 0 0 PETER CANGANY VICE CHAIR 2.00 X X 0 0 0 ROBERT DEVOSS VICE CHAIR 2.00 X X 0 0 0 ROBERT SCHAFSTALL TREASURER 2.00 X X 0 0 0 STEPHEN HUDDLESTON SECRETARY 2.00 X X 1950 0 0 SUSAN WILLIAMS VICE CHAIR 2.00 X X 0 0 0 THERESSA WRIGHT VICE CHAIR 2.00 X X 0 0 0 WILLIAM BROWN VICE CHAIR 2.00 X X 0 0 0 WILLIAM RECEVEUR III VICE CHAIR 2.00 X X 0 0 0 CAROL TUMEY TRUSTEE 2.00 X 1625 0 0 CONSTANCE VAN VALER TRUSTEE 2.00 X 0 0 0 DAN THOMASSON TRUSTEE 2.00 X 0 0 0 DANIEL HANN TRUSTEE 2.00 X 0 0 0 DEAN ABPLANALP TRUSTEE 2.00 X 0 0 0 DEBORAH DAVIS TRUSTEE (PARTIAL YEAR) 2.00 X 0 0 0 DOUGLAS TILLMAN TRUSTEE 2.00 X 0 0 0 JACK LAUGLE TRUSTEE 2.00 X 0 0 0 JAMES FRISCHE TRUSTEE 2.00 X 0 0 0 JANE REPP TRUSTEE 2.00 X 0 0 0 JEFFERY HOLT TRUSTEE 2.00 X 0 0 0 JOHN CHIAROTTI TRUSTEE 2.00 X 0 0 0 JOHN DICKERSON TRUSTEE 2.00 X 0 0 0 JOHN TALLEY TRUSTEE 2.00 X 0 0 0 KATHARINE KRUSE TRUSTEE 2.00 X 0 0 0 MARK HARRISON TRUSTEE 2.00 X 0 0 0 MARY ANN COLLIER TRUSTEE 2.00 X 0 0 0 MICHAEL O'DELL TRUSTEE 2.00 X 0 0 0 PAMELA HICKS TRUSTEE (PARTIAL YEAR) 2.00 X 0 0 0 PHILIP POWELL TRUSTEE 2.00 X 0 0 0 R MARTIN UMBARGER TRUSTEE 2.00 X 0 0 0 RAFAEL SANCHEZ JR TRUSTEE 2.00 X 0 0 0 ROBERT BROWN TRUSTEE 2.00 X 0 0 0 SCOTT GUDEMAN TRUSTEE 2.00 X 0 0 0 SUSAN DEVOSS TRUSTEE 2.00 X 0 0 0 V VON BOLL TRUSTEE 2.00 X 0 0 0 WORTHE HOLT JR TRUSTEE 2.00 X 0 0 0 ALAN HILL VICE PRESIDENT FOR ENROLLMENT & MARKETING 40.00 X 145625 0 41525 DANIEL SCHLUGE VICE PRESIDENT FOR BUSINESS & FINANCE 40.00 X 131852 0 2575 DAVID BRAILOW VICE PRESIDENT FOR ACADEMIC AFFAIRS 40.00 X 128500 0 36031 GAIL LOWRY VICE PRESIDENT FOR INSTITUTIONAL ADVANCEMENT 40.00 X 131893 0 22873 JAMES MOSELEY PRESIDENT 40.00 X 263606 0 75473 LISA FEARS VICE PRESIDENT FOR PLANNING, PLANT & TECHNOLOGY 40.00 X 107500 0 20144 ELLIS HALL DEAN OF STUDENTS 40.00 X 110200 0 21239 TIM GARNER ASSOCIATE VICE PRESIDENT OF ACADEMIC AFFAIRS & INSTITUTIONAL ENGAGEMENT 40.00 X 112300 0 15671 1135051 0 235531 8 false true false SODEXO INC 4880 PAYSPHERE CIRCLE CHICAGO IL 60674 FOOD SERVICE 1774013 DUNLAP & COMPANY INC PO BOX 328 COLUMBUS IN 47202 CONSTRUCTION CONTRACTOR 325409 C & T DESIGN & EQUIPMENT COMPANY 2750 TOBEY DRIVER INDIANAPOLIS IN 46219 FOOD SERVICE CONSULTING & DESIGN SERVICES 234916 BSA LIFESTRUCTURES PO BOX 6069 INDIANAPOLIS IN 46206 ARCHITECTURAL & ENGINEERING 142050 CAYLOR SOLUTIONS 12566 TUMBLEWEED CT FISHERS IN 46037 MARKETING & COMMUNICATIONS 121496 6 40003 159249 3624289 324900 3823541 TUITION AND FEES 611600 25760284 25760284 AUXILIARY ENTERPRISES 611600 5886737 5886737 0 0 0 0 0 0 0 31647021 1872336 -120854 1993190 0 0 76975 15497 61478 0 61478 9502 51976 27322027 24389748 2932279 0 2932279 2932279 14341 40003 22725 -8384 -8384 0 0 MISCELLANEOUS INCOME 900099 26210 26210 FITNESS FACILITY 713940 725 725 0 0 0 0 0 26935 40355206 31673231 -110627 4969061 0 12565010 12565010 0 0 1058525 168934 723687 165904 261785 261785 11033857 10167923 237769 628165 1331355 1100597 166191 64567 1045107 870850 107134 67123 860234 742937 62552 54745 0 31801 31801 86590 86590 0 21704 21704 201698 201698 2481755 2355894 85583 40278 95360 61294 0 34066 551074 398276 33509 119289 71353 71353 0 0 198856 176429 3022 19405 0 198856 176429 3022 19405 123976 92344 31632 0 2946397 2830185 88694 27518 190920 936 189984 PLANT OPERATIONS 3361578 3289929 39663 31986 EQUIPMENT & EQUIPMENT RENTAL 835306 723335 106313 5658 FOOD 199804 168495 12254 19055 PROFESSIONAL EDUCATION AND DUES 208037 98292 97516 12229 902856 528305 274244 100307 40863794 36587747 2844643 1431404 0 384755 447515 3863035 3830277 1212787 1205778 504626 513946 0 0 0 0 258202 255412 440937 406316 113479265 65726440 49063842 47752825 49023033 52456514 32557575 34792553 3610043 3369024 390381 278479 141309216 145308639 1789229 1845892 287890 254533 7850000 7400000 144583 145346 0 0 4474500 2886500 3124113 3035661 17670315 15567932 X 68617734 70800222 14772300 18107974 40248867 40832511 123638901 129740707 141309216 145308639 -508588 6610394 0 X false true X true true true X 3398719 5147249 9124775 3246413 3823541 24740697 0 0 3398719 5147249 9124775 3246413 3823541 24740697 7397338 17343359 1591993 1572660 1882507 2143929 1949311 9140400 0 0 30579 0 0 30579 11440 9335 10051 12760 14341 57927 33969603 155603363 0.51060 X Schedule A, Part II, Line 10, Other Income DESCRIPTION - FUNDRAISING REVENUE, COLUMN A - 11440, COLUMN B - 9335, COLUMN C - 10051, COLUMN D - 12760, COLUMN E - 14341, COLUMN F - 57927; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 52935 X X false false true X 82249777 452035 10768489 1369176 4487744 87613381 79557664 176445 7035560 1347880 3172012 82249777 81566632 3115983 -836466 1195637 3092848 79557664 73862023 1505460 11622245 1155918 4267178 81566632 69774138 673374 7652516 1122251 3115754 0 73862023 0.36430 0.46610 0.16960 false false 7270870 7270870 87100106 50384354 36715752 0 17974548 15342086 2632462 1133741 1133741 47752825 0 0 FUND OF FUNDS 9202006 F FUNDS OF HEDGE FUNDS 13574383 F REAL ESTATE AND PERSONAL PROPERTY 4520000 F PRIVATE EQUITY 900088 F PRIVATE PARTNERSHIPS 6596076 F 34792553 0 ADVANCES FROM FEDERAL AGENCY FOR STUDENT LOANS 1755710 LIABILITIES UNDER CHARITABLE ANNUITY AND UNITRUST AGREEMENTS 887794 CAPITAL LEASE OBLIGATION 392157 3035661 X 34237114 6610394 38222 6648616 27588498 201698 12565010 12766708 40355206 28135308 38222 38222 28097086 201698 12565010 12766708 40863794 Schedule D, Part III, Line 4, Collections of art - description of collections COLLECTIONS FROM VARIOUS SCHOLARS, DIGNITARIES, AND ARTISTS ENHANCE THE INTELLECTUAL ATMOSPHERE ON CAMPUS. Schedule D, Part IV, Line 2b, Explanation of escrow agreement THE COLLEGE HOLDS CASH FOR STUDENT CAMPUS ORGANIZATIONS, WHICH ARE FUNDED BY AN ACTIVITY FEE ON STUDENT'S TUITION STATEMENTS. Schedule D, Part V, Line 4, Intended uses of endowment funds THE ENDOWMENT PROVIDES SUPPORT FOR THE OPERATION OF THE COLLEGE AND HELPS THE COLLEGE FULFILL ITS MISSION BY PROVIDING SCHOLARSHIPS AND FACULTY SUPPORT. Schedule D, Part X, Line 2, FIN 48 (ASC 740) footnote THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE UNITED STATES INTERNAL REVENUE CODE. THE COLLEGE IS NOT CONSIDERED TO BE A PRIVATE FOUNDATION. CURRENT ACCOUNTING STANDARDS REQUIRE THE COLLEGE TO DISCLOSE THE AMOUNT OF POTENTIAL BENEFIT OR OBLIGATION TO BE REALIZED AS A RESULT OF AN EXAMINATION PERFORMED BY A TAXING AUTHORITY. FOR THE YEARS ENDED JUNE 30, 2014 AND 2013, MANAGEMENT HAS DETERMINED THAT THE COLLEGE DOES NOT HAVE ANY TAX POSITIONS THAT RESULT IN ANY UNCERTAINTIES REGARDING THE POSSIBLE IMPACT ON THE COLLEGE'S FINANCIAL STATEMENTS. THE COLLEGE DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS TO SIGNIFICANTLY CHANGE IN THE NEXT 12 MONTHS. THE COLLEGE IS NO LONGER SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR YEARS BEFORE 2009. THE COLLEGE RECOGNIZES INTEREST AND/OR PENALTIES RELATED TO INCOME TAX MATTERS IN INCOME TAX EXPENSE. THE COLLEGE DID NOT HAVE ANY AMOUNTS ACCRUED FOR INTEREST AND PENALTIES AT JUNE 30, 2014 OR 2013. Schedule D, Part XI, Line 2d, Other revenues in audited financial statements not in form 990 RENT EXPENSE - 15497; FUNDRAISER EXPENSE - 22725; Schedule D, Part XI, Line 4b, Other revenues in form 990 not in audited financial statements SCHOLARSHIPS - 12565010; Schedule D, Part XII, Line 2d, Other expenses in audited financial statements not in form 990 RENT EXPENSE - 15497; FUNDRAISER EXPENSE - 22725; Schedule D, Part XII, Line 4b, Other expenses in form 990 not in audited financial statements SCHOLARSHIPS - 12565010; true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3, Racially nondiscriminatory policy FRANKLIN COLLEGE IS COMMITTED TO A POLICY OF NONDISCRIMINATION ON THE BASIS OF AGE, COLOR, DISABILITY, RACE, RELIGION, GENDER, NATIONAL ORIGIN, AND SEXUAL ORIENTATION IN ANY OF ITS PROGRAMS AND OFFERINGS IN COMPLIANCE WITH TITLE IX OF THE FEDERAL EDUCATIONAL AMENDMENTS OF 1972, OF EXECUTIVE ORDER 11246 AND REVISED ORDER NO. 4 OF THE CIVIL RIGHTS ACT OF 1964 AS AMENDED IN 1972 AND SECTION 504 OF THE REHABILITATION ACT OF 1973. FRANKLIN COLLEGE POSTS THE NONDISCRIMINATION POLICY ON ITS WEBSITE ON WEB PAGES DESIGNED FOR PROSPECTIVE STUDENTS AND ADMITTED STUDENTS. Schedule E, Part I, Line 6a, Financial aid or assistance from a governmental agency THE ORGANIZATION RECEIVES PELL GRANTS, SEOG AND WORK STUDY FUNDS FROM THE FEDERAL GOVERNMENT. THE ORGANIZATION ALSO RECEIVES FUNDS FROM THE STATE OF INDIANA WHICH INCLUDE 21ST CENTURY, FREEDOM OF CHOICE, AND OTHER HOOSIER SCHOLARSHIPS AND/OR GRANTS. false EUROPE (INCLUDING ICELAND AND GREENLAND) 0 PROGRAM SERVICES STUDY ABROAD 136131 CENTRAL AMERICA AND THE CARIBBEAN 0 PROGRAM SERVICES STUDY ABROAD 71663 SUB-SAHARAN AFRICA 0 PROGRAM SERVICES STUDY ABROAD 4600 CENTRAL AMERICA AND THE CARIBBEAN 0 INVESTMENTS 11228030 0 11440424 true false true true true false Schedule F, Part I, Line 3, Method to account for expenditures on org.'s financial statements CENTRAL AMERICA AND THE CARIBBEAN: ACCRUAL EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL SUB-SAHARAN AFRICA: ACCRUAL Schedule F, Part I, Line 3, Method to account for expenditures on org.'s financial statements CENTRAL AMERICA AND THE CARIBBEAN: ACCRUAL EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL SUB-SAHARAN AFRICA: ACCRUAL X X X X X X true JOHNSON GROSSNICKLE AND ASSOCIATES 29 SOUTH PARK BLVD GREENWOOD IN 46143 CAMPAIGN CONSULTING false 0 21704 -21704 0 21704 -21704 IN HUGH ANDREWS GOLF OUTING 31071 25963 5108 10915 1565 TOUCHDOWN CLUB GOLF OUTING 23273 14040 9233 10028 217 0 54344 40003 14341 0 20943 1782 0 0 0 22725 -8384 true TRAVEL GRANTS 50 40252 SCHOLARSHIPS 991 12524758 Schedule I, Part I, Line 2, Procedures for monitoring use of grant funds THE FINANCIAL AID OFFICE AND BUSINESS OFFICE OPERATE TOGETHER TO ENSURE GRANTS ARE USED FOR EDUCATIONAL PURPOSES. GRANTS ARE APPLIED TO STUDENTS' ACCOUNTS BY THE BUSINESS OFFICE AFTER THE GRANTS ARE APPROVED AND DISBURSED BY THE FINANCIAL AID OFFICE. X X X false true X X X X false true false false false false false false false GAIL LOWRY VICE PRESIDENT FOR INSTITUTIONAL ADVANCEMENT 127768 0 0 0 4125 0 5606 0 17267 0 154766 0 0 0 DAVID BRAILOW VICE PRESIDENT FOR ACADEMIC AFFAIRS 128500 0 0 0 0 0 17675 0 18356 0 164531 0 0 0 ALAN HILL VICE PRESIDENT FOR ENROLLMENT & MARKETING 142000 0 0 0 3625 0 20619 0 20906 0 187150 0 0 0 JAMES MOSELEY PRESIDENT 242099 0 0 0 21507 0 36650 0 38823 0 339079 0 0 0 Schedule J, Part I, Line 1a, Travel for companions TRAVEL EXPENSES FOR THE PRESIDENT'S WIFE ARE PAID BY THE COLLEGE WHEN SHE ACCOMPANIES HIM DURING TRAVEL. SHE IS EXPECTED TO BE IN ATTENDANCE FOR FUNDRAISING EVENTS, MEETINGS WITH TRUSTEES, AND VARIOUS FOUNDATION MEETINGS. THIS IS NOT TREATED AS TAXABLE COMPENSATION. Schedule J, Part I, Line 1a, Housing allowance or residence for personal use THE PRESIDENT IS REQUIRED TO RESIDE IN THE PRESIDENT'S HOME AS PART OF HIS DUTIES AS PRESIDENT. BECAUSE THIS IS REQUIRED OF HIM AS PART OF HIS EMPLOYMENT, THIS IS NOT TREATED AS TAXABLE COMPENSATION. Schedule J, Part I, Line 1a, Health or social club dues or initiation fees CLUB DUES ARE PAID FOR THE PRESIDENT. ALL ARE TREATED AS TAXABLE COMPENSATION AND APPEAR ON THE FORMS W-2 FOR THESE INDIVIDUALS. Schedule J, Part I, Line 1b, Written policy regarding payment or reimbursement of expenses THE BOARD OF TRUSTEES DETERMINES ELIGIBILITY FOR THESE BENEFITS FOR THE PRESIDENT. THE PRESIDENT DOES SO FOR ALL OTHER STAFF/FACULTY POSITIONS. Schedule J, Part I, Line 4b, Supplemental nonqualified retirement plan JAMES G. MOSELEY, PRESIDENT, PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN 457(F). THERE WERE NO CONTRIBUTIONS FOR THE YEAR ENDED JUNE 30, 2014. THE CONDITIONS OF THE PLAN REQUIRED THE PRESIDENT TO BE EMPLOYED WITH THE COLLEGE THROUGH JUNE 30, 2014. A INDIANA EDUCATIONAL FACILITIES AUTHORITY 521698917 455048U48 2003-12-03 15000000 EXPANSION OF CAMPUS CENTER AND REFUNDING OF 10/7/1999 BOND ISSUE false false false A 7600000 0 15005926 0 0 0 191641 54690 0 8843180 5916415 0 2003 true false true true A false false true true false 0.00000 0.00000 0.00000 false false true A false false true false true false NA false NA false true A true SCHEDULE K, PART II, LINE 3, TOTAL PROCEEDS OF ISSUE TOTAL PROCEEDS OF ISSUE DOES NOT MATCH ISSUE PRICE BECAUSE THERE WERE $5,926 IN INVESTMENT EARNINGS. SCHEDULE K, PART IV, LINE 2C, EXCEPTION TO REBATE A BOND COUNSEL REPORT DATED DECEMBER 21, 2006 EXPLAINS THAT FRANKLIN COLLEGE FALLS UNDER THE EXCEPTION TO REBATE. THE REPORT STATES THAT ARBITRAGE CONSIDERATIONS ARE NOT REQUIRED DUE TO BOND PROCEEDS BEING COMPLETELY EXPENDED AND NO OTHER DEBT PROCEEDS SUBJECT TO REBATE. SEE PART V SEE PART V 27510 MERIT BASED SCHOLARSHIP STUDENT FINANCIAL ASSISTANCE FRANKLIN INSURANCE AGENCY OWNED BY TRUSTEE JOHN AULD, JR. 167978 INSURANCE PURCHASED BY FRANKLIN COLLEGE false SCHEDULE L, PART III, GRANTS OR ASSISTANCE BENEFITTING INTERESTED PERSONS PER IRS INSTRUCTIONS, COLLEGES, UNIVERSITIES, AND PRIMARY AND SECONDARY SCHOOLS ARE NOT REQUIRED TO IDENTIFY INTERESTED PERSONS TO WHOM THEY PROVIDED SCHOLARSHIPS, FELLOWSHIPS, AND SIMILAR FINANCIAL ASSISTANCE. INSTEAD, THESE ORGANIZATIONS MUST, IN PART III, GROUP EACH TYPE OF FINANCIAL ASSISTANCE (FOR EXAMPLE, NEED-BASED SCHOLARSHIPS, MERIT SCHOLARSHIPS, DISCOUNTED TUITION) PROVIDED TO INTERESTED PERSONS IN SEPARATE LINES. FOR EACH LINE, THE SCHOOL SHOULD REPORT IN COLUMN (C) THE AGGREGATE DOLLAR AMOUNT OF EACH TYPE OF ASSISTANCE, THE TYPE OF ASSISTANCE IN COLUMN (D), AND THE PURPOSE OF THE ASSISTANCE IN COLUMN (E), UNLESS SUCH REPORTING WOULD BE AN UNAUTHORIZED DISCLOSURE OF STUDENT EDUCATION RECORDS UNDER THE FAMILY EDUCATIONAL RIGHTS AND PRIVACY ACT (FERPA). COLUMNS (A) AND (B) SHOULD BE LEFT BLANK FOR THESE LINES. X 26 324900 MARKET VALUE 0 false true false Schedule M, Part I, Explanations of reporting method for number of contributions SECURITIES - PUBLICLY TRADED: THE NUMBER OF CONTRIBUTIONS RECEIVED Schedule M, part I, column (b), Line 9, Number of contributions or items contributed. THE NUMBER OF CONTRIBUTIONS RECEIVED Form 990, Part III, Line 2, New program services THE BOARD OF TRUSTEES APPROVED A MASTER'S OF SCIENCE IN ATHLETIC TRAINING AT THE FEB. 8TH, 2014 MEETING. THE NEW PROGRAM IS EXPECTED TO BEGIN IN THE SUMMER OF 2016. Form 990, Part VI, Sec A, Line 1a, Delegate broad authority to a committee THE EXECUTIVE COMMITTEE SHALL BE COMPOSED OF THE CHAIRMAN, THE IMMEDIATE PAST CHAIRMAN, THE TEN VICE-CHAIRS, THE SECRETARY, AND THE TREASURER, ALL EX OFFICIO WITH VOTE. THE PRESIDENT SHALL BE A MEMBER EX OFFICIO WITHOUT VOTE. THE CHAIRMAN OF THE BOARD SHALL SERVE AS CHAIRMAN OF THE EXECUTIVE COMMITTEE. AT THE CALL OF THE CHAIRMAN, THE COMMITTEE SHALL MEET BETWEEN REGULAR MEETINGS OF THE BOARD FOR THE PURPOSE OF EXPEDITING ORDERS OF THE BOARD OF TRUSTEES AND OVERSEEING THE APPROVED PROGRAM AND DEVELOPMENT OF THE COLLEGE. THE EXECUTIVE COMMITTEE SHALL HAVE AND MAY EXERCISE, DURING THE INTERVALS BETWEEN THE MEETINGS OF THE BOARD OF TRUSTEES, ALL POWERS VESTED IN THE BOARD OF TRUSTEES, BUT ACTIONS TAKEN BY THE EXECUTIVE COMMITTEE MAY BE SUBJECT TO REVIEW. Form 990, Part VI, Sec A, Line 2, Family/business relationships amongst interested persons SUSAN DEVOSS AND ROBERT DEVOSS - FAMILY RELATIONSHIP Form 990, Part VI, Sec B, Line 11b, Review of form 990 by governing body THE FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE. THEN A COPY OF THE FORM 990 IS PROVIDED TO EVERY MEMBER OF THE GOVERNING BODY BEFORE IT IS FILED WITH THE IRS. Form 990, Part VI, Sec B, Line 12c, Conflict of interest policy ALL EMPLOYEES AND TRUSTEES ANNUALLY SIGN A CONFLICT OF INTEREST STATEMENT. THE PRESIDENT IS RESPONSIBLE FOR REVIEWING THE STATEMENTS FOR COLLEGE EMPLOYEES. THE AUDIT COMMITTEE IS RESPONSIBLE FOR REVIEWING THE STATEMENTS OF THE TRUSTEES AND THE PRESIDENT. ANY BOARD MEMBER CONFLICTS OF INTEREST THAT ARE DISCLOSED ARE REPORTED TO THE CHAIR OF THE BOARD WHO ENSURES THE INDIVIDUAL ABSTAINS FROM VOTING ON MATTERS RELATED TO THE CONFLICT. Form 990, Part VI, Sec B, Line 15a, Process to establish compensation of top management official THE PRESIDENT'S COMMITTEE OF THE BOARD OF TRUSTEES ESTABLISHES THE PRESIDENT'S COMPENSATION ANNUALLY. THIS IS DONE THROUGH A REVIEW PROCESS BY WHICH THE PRESIDENT'S PERFORMANCE IS ASSESSED. THE COMMITTEE USES COMPARATIVE SALARY DATA, INCLUDING FORMS 990 OF OTHER ORGANIZATIONS, TO MAKE ITS FINAL DECISION. THE DECISION IS THEN RECOMMENDED TO THE BOARD OF TRUSTEES. THE BOARD THEN VOTES ON THE MATTER. THE DELIBERATIONS AND DECISIONS ARE DOCUMENTED IN THE BOARD MINUTES. THIS PROCESS WAS LAST UNDERTAKEN IN 2014. FORM 990, PART VI, LINE 15B, PROCESS USED TO ESTABLISH COMPENSATION OF OTHER OFFICERS THE PRESIDENT IS RESPONSIBLE FOR DETERMINING THE COMPENSATION FOR ALL EMPLOYEES AND OTHER OFFICERS OF THE COLLEGE. THE PRESIDENT USES COMPARABILITY DATA FROM OTHER INDIANA INDEPENDENT COLLEGES AND UNIVERSITIES THAT IS MADE AVAILABLE FROM THE INDEPENDENT COLLEGES OF INDIANA TO DETERMINE COMPENSATION. THE DELIBERATION AND DECISIONS ARE DOCUMENTED. THIS PROCESS IS COMPLETED ANNUALLY AND WAS LAST UNDERTAKEN IN 2014. Form 990, Part VI, Sec C, Line 19, Required documents available to the public AN ORGANIZATION'S GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY ARE NOT REQUIRED DISCLOSURES PURSUANT TO INTERNAL REVENUE CODE (IRC) SECTION 6104. THESE DOCUMENTS ARE NOT AVAILABLE TO THE PUBLIC AT THIS TIME. CHARITABLE REMAINDER TRUSTS (4) CHARITABLE REMAINDER TRUST IN FRANKLIN COLLEGE TRUST false false false false false false false false false false false false false false false false false false false PART IV, COLUMN (C), STATE OF LEGAL DOMICILE INDIANA - 3 WASHINGTON - 1