2015-05-15T10:41:41-05:00 2014-06-30 BKD LLP 14241 DALLAS PKWY STE 1100 DALLAS TX 75254 990 2013-07-01 720408915 Centenary College of Louisiana % ROBERT BLUE CENT 3188695101 2911 Centenary Boulevard Suite Shreveport LA 71104 Robert Blue VP of Finance & Administration 3188695101 2015-05-15 true Jeanette Verrelli P00742631 3188695101 2013 2016-03-07 17:11:31Z B DAVID ROWE 2911 CENTENARY BOULEVARD SHREVEPORT LA 71104 41372612 false X WWW.CENTENARY.EDU X 1825 LA PROVIDE UNDERGRADUATE AND GRADUATE EDUCATION IN A VARIETY OF PROGRAMS TO APPROXIMATELY 600 UNDERGRADUATE AND 100 GRADUATE STUDENTS. 41 35 613 400 107315 69595 6987171 9362653 19482455 17479836 2597366 4448694 2055376 1535134 31122368 32826317 10926326 9508381 0 0 12612046 12325178 0 0 1973375 10204691 12342009 33743063 34175568 -2620695 -1349251 162692987 176406833 18828391 20875146 143864596 155531687 X CENTENARY IS A SELECTIVE LIBERAL ARTS COLLEGE OFFERING UNDERGRADUATE PROGRAMS AND LIMITED NUMBER OF GRADUATE PROGRAMS IN THE ARTS, HUMANITIES, NATURAL SCIENCES, AND SOCIAL SCIENCES, WHICH STRENGTHEN THE FOUNDATION FOR STUDENTS' PERSONAL LIVES AND CAREER GOALS. STUDENTS AND FACULTY WORK TOGETHER TO BUILD A COMMUNITY FOCUSED ON ETHICAL AND INTELLECTUAL DEVELOPMENT, RESPECT AND CONCERN FOR HUMAN AND SPIRITUAL VALUES, AND THE JOY OF CREATIVITY AND DISCOVERY. CONSISTENT WITH ITS AFFILIATION WITH THE UNITED METHODIST CHURCH, THE COLLEGE ENCOURAGES A LIFELONG DEDICATION NOT ONLY TO LEARNING BUT ALSO TO SERVING OTHERS. IT STRIVES TO OVERCOME IGNORANCE AND INTOLERANCE; TO EXAMINE IDEAS CRITICALLY; TO PROVIDE AN UNDERSTANDING OF THE FORCES THAT HAVE INFLUENCED THE PAST, DRIVE THE PRESENT, AND SHAPE THE FUTURE; AND TO CULTIVATE INTEGRITY, INTELLECTUAL AND MORAL COURAGE, RESPONSIBILITY, FAIRNESS, AND COMPASSION. IN PURSUIT OF THESE IDEALS, THE COLLEGE CHALLENGES ITS STUDENTS THROUGHOUT THEIR EDUCA false false 23075334 9508381 17881155 PROVIDE UNDERGRADUATE AND GRADUATE EDUCATION IN A VARIETY OF PROGRAMS TO APPROXIMATELY 600 UNDERGRADUATE AND 100 GRADUATE STUDENTS. 23075334 true true false false false false false true false true true false false true true false true false true false false false false false true false false false true true true false false false false false true false false false true true false false false false true false false false true 93 0 true 613 true true true false false false false true true false false false false X 41 35 true false true false false false false true true false false false true true true true true true false false X ROBERT BLUE 3188695012 2911 CENTENARY BOULEVARD SHREVEPORT LA 71104 X B DAVID ROWE PRESIDENT 40.0 0.0 X X 235417 0 29291 MICHAEL R HEMPHILL PROVOST Term date: 12/31/13 40.0 0.0 X X 208641 0 17380 STEPHANIE R OWENS VP OF FINANCE & ADMINISTRATION 40.0 0.0 X X 121925 0 13077 WARREN S RAWLES EXECUTIVE VICE PRESIDENT 40.0 0.0 X X 157176 0 13987 MONTY L CURTIS VP OF ENROLLMENT SERVICES 40.0 0.0 X X 137094 0 9084 GEORGE D NELSON JR CHAIRMAN 1.0 0.0 X X 0 0 0 AUSTIN G ROBERTSON JR VICE CHAIRMAN 1.0 0.0 X X 0 0 0 ARCHER FRIERSON TREASURER 1.0 0.0 X X 0 0 0 JOHN F GEORGE JR SECRETARY 1.0 0.0 X X 0 0 0 EDWARD J CRAWFORD III IMMEDIATE PAST CHAIR 1.0 0.0 X X 0 0 0 WILLIAM G ANDERSON CHAIRMAN EMERITUS 1.0 0.0 X X 0 0 0 JOHN ATKINS Trustee 1.0 0.0 X 0 0 0 DAVID BARLOW Trustee 1.0 0.0 X 0 0 0 KENNETH M FISHER Trustee 1.0 0.0 X 0 0 0 DARYL FULTZ Trustee 1.0 0.0 X 0 0 0 BILL BROYLES Trustee 1.0 0.0 X 0 0 0 PAUL MICHAEL MANN Trustee 1.0 0.0 X 0 0 0 CAROL BORNE SPENCER Trustee 1.0 0.0 X 0 0 0 CARL E STEWART Trustee 1.0 0.0 X 0 0 0 W JUAN WATKINS Trustee 1.0 0.0 X 0 0 0 JON Q PETERSON Trustee 1.0 0.0 X 0 0 0 J STAFFORD COMEGYS Trustee 1.0 0.0 X 0 0 0 PERCY V HUBBARD Trustee 1.0 0.0 X 0 0 0 ROY S HURLEY Trustee 1.0 0.0 X 0 0 0 DARYL W MITCHELL Trustee 1.0 0.0 X 0 0 0 ANDREW M SHEHEE Trustee 1.0 0.0 X 0 0 0 C ELLIS BROWN JR Trustee 1.0 0.0 X 0 0 0 O DELTON HARRISON JR Trustee 1.0 0.0 X 0 0 0 JANE HUTCHINSON JAMES Trustee 1.0 0.0 X 0 0 0 THOMAS E MCELROY Trustee 1.0 0.0 X 0 0 0 HARRY MCINNIS Trustee 1.0 0.0 X 0 0 0 CHARLES B SIMMONS Trustee 1.0 0.0 X 0 0 0 CAMILLE BRYAN Trustee 1.0 0.0 X 0 0 0 FRED LOY Trustee 1.0 0.0 X 0 0 0 WES ATTAWAY Trustee 1.0 0.0 X 0 0 0 BETH BONNER DEVILLE Trustee 1.0 0.0 X 0 0 0 MARK D ELDREDGE Trustee 1.0 0.0 X 0 0 0 LENNIS S ELSTON Trustee 1.0 0.0 X 0 0 0 CYNTHIA HARVEY EX-OFFICIO Trustee 1.0 0.0 X 0 0 0 DONALD R AVERY EX-OFFICIO Trustee 1.0 0.0 X 0 0 0 ANGIE WHITE EX-OFFICIO Trustee 1.0 0.0 X 0 0 0 GREG EWING EX-OFFICIO Trustee 1.0 0.0 X 0 0 0 HAROLD CHRISTENSEN EX-OFFICIO Trustee 1.0 0.0 X 93688 0 9844 DAVID THOMAS EX-OFFICIO Trustee 1.0 0.0 X 27977 0 8312 MICHELLE GLAROS EX-OFFICIO Trustee 1.0 0.0 X 65871 0 8041 Jenifer Ward Provost Start Date: 6/6/14 40.0 0.0 X X CHRISTOPHER MARTIN DEAN OF THE SCHOOL OF BUSINESS 40.0 0.0 X 129149 0 9210 BARBARA DAVIS SAMPLE PROF OF BUSINESS & ACCT 40.0 0.0 X 109258 0 11917 SCOTT VETTER WOOLF PROFESSOR OF GEOLOGY 40.0 0.0 X 94611 0 10657 KENNETH SCHWAB FORMER PRESIDENT EMERITUS 0.0 0.0 X 110750 0 1538 1491557 0 142338 17 true true false SODEXO INC AFFILIATES PO BOX 536922 ATLANTA GA 303536922 FOOD SERVICES 1287195 NATIONAL MANAGEMENT RESOURCES CORP PO BOX 1224 LA GRANGE GA 30241 FACILITY SERVICES 1037003 RRAC CONTRACTORS INC 3403 MARKS ST SHREVEPORT LA 71103 CONSTRUCTION 636276 RICHARDSCARLBERG INC 8750 N CENTRAL EXPRESSWAY SUITE 2 DALLAS TX 752316437 Enrollment SERVICES 563131 LOUISIANA ABSTRACT AND TITLE LLC 901 PIERREMONT ROAD SHREVEPORT LA 71106 REAL ESTATE SERVICES 392431 15 X 30350 412967 8919336 1255180 9362653 TUITION & FEES 611710 17479836 17479836 17479836 2843841 81053 2762788 0 394340 394340 104764 7883 96881 0 96881 96881 6234618 4629765 1604853 1604853 1604853 3370 30350 6593 -3223 -3223 0 4303373 3902054 401319 401319 MISCELLANEOUS INCOME 900099 619555 619555 OIL & GAS INCOME 900099 26262 26262 645817 32826317 17881155 107315 5475194 0 9508381 9508381 0 0 930557 511806 344306 74445 0 9419057 5180481 3485051 753525 394876 217182 146104 31590 883190 485755 326780 70655 697498 383624 258074 55800 0 27846 15315 10303 2228 262695 144482 97197 21016 0 0 0 277478 152613 102667 22198 0 3331837 1832510 1232780 266547 135772 74675 50236 10861 0 1125665 619116 416496 90053 1610244 885634 595790 128820 0 0 458526 252189 169655 36682 0 1689230 929077 625015 135138 428937 235915 158707 34315 BAD DEBT EXPENSE 1287995 708397 476558 103040 TUITION REMISSION 225040 123772 83265 18003 DUES & MEMBERSHIPS 199627 109795 73862 15970 EQUIP RENT, REPAIRS, & MAINT 54972 30234 20340 4398 1226145 674381 453673 98091 34175568 23075334 9126859 1973375 0 0 3445633 1793991 4829404 6637358 787030 304440 60000 40000 0 0 550898 582273 0 0 245452 300790 72190229 42559244 29647560 29630985 99428618 112056656 109554 89700 0 0 0 0 23588838 24970640 162692987 176406833 3659521 4092599 519282 525492 225808 135261 13903414 13361168 0 0 0 0 6540 1500000 0 0 513826 1260626 18828391 20875146 X 17556545 19868556 37998843 45391189 88309208 90271942 143864596 155531687 162692987 176406833 X -1349251 11367104 1649238 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1193792 X X X X X PUBLIC EDUCATION false 131896940 573580 17639630 4673150 -1445 638983 144799462 122774143 2445032 12507952 5445468 1964 382755 131896940 125277360 1804075 364073 4121571 55080 494714 122774143 107208147 3019914 20146690 4681830 415561 125277360 98719393 663294 12934008 4711522 397026 107208147 0.15830 0.84170 true false 2340006 2340006 1557163 48239250 28573279 21223134 2706016 710294 1995722 16221359 13275671 2945688 1126435 1126435 29630985 FUNDS HELD IN TRUST BY OTHERS 23769431 RESTRICTED CASH 786545 OTHER ASSETS 414664 24970640 0 ASSETS HELD IN CUSTODY 238972 LIABILITY ON ANNUITY CONTRACTS 271654 LINE OF CREDIT 750000 1260626 X 38962813 11367104 -9147138 2219966 36742847 -3916530 -3916530 32826317 27295722 3916530 3916530 23379192 10796376 10796376 34175568 SCHEDULE D, PART III, LINE 4 ORGANIZATION'S COLLECTIONS AND EXEMPT PURPOSE: THE MEADOWS MUSEUM OF ART IS A DEPARTMENT OF THE COLLEGE AND IS LOCATED ON THE COLLEGE CAMPUS. THE MEADOWS MUSEUM EXISTS FOR THE PURPOSES OF HOUSING, CARING FOR, AND EXHIBITING THE PERMANENT COLLECTION ON A ROTATING BASIS AND FOR IMPLEMENTING PUBLIC EDUCATIONAL PROGRAMS DEVELOPED IN TANDEM WITH MUSEUM EXHIBITIONS IN ORDER TO MAXIMIZE EDUCATIONAL IMPACT ON VIEWERS AND PROGRAM PARTICIPANTS. MUSEUM STAFF OFTEN WORK WITH COLLEGE FACULTY TO MOUNT EXHIBITIONS DIRECTLY RELATED TO COURSE CONTENT AND IN THIS WAY SIMULTANEOUSLY SERVE THE CENTENARY COLLEGE STUDENTS, FACULTY AND STAFF AS WELL AS THE REGIONAL COMMUNITY AT LARGE. ALL PUBLIC EDUCATIONAL PROGRAMS AND EVENTS ARE PRESENTED FREE-OF-CHARGE. PERIODICALLY, EXHIBITIONS ARE LOANED TO REGIONAL INSTITUTIONS FOR PRESENTATION THAT SPAN THE SOUTHERN GEOGRAPHIC REGION FROM NORTHERN MISSISSIPPI TO CENTRAL TEXAS. THESE ACTIVITIES STRONGLY SUPPORT THE EDUCATIONAL MISSION OF CENTENARY COLLEGE. SCHEDULE D, PART V, LINE 4 INTENDED USE OF ORGANIZATION'S ENDOWMENT FUNDS: THE COLLEGE'S ENDOWMENT FUNDS A PORTION OF THE OPERATING AND CAPITAL REQUIREMENTS OF THE INSTITUTION. IN ADDITION, THERE ARE A NUMBER OF RESTRICTED ENDOWMENTS THAT ARE INTENDED TO FUND SPECIFIC AREAS WITHIN THE INSTITUTION, INCLUDING ENDOWED FACULTY CHAIRS, ENDOWED SCHOLARSHIPS FOR QUALIFIED STUDENTS, AND OTHER SPECIFIC AREAS. schedule d, part x, line 2 liability for uncertain tax positions: The College is exempt from income taxes under Section 501 of the Internal Revenue Code and a similar provision of state law. However, the College is subject to federal income tax on any unrelated business taxable income. The College files tax returns in the U.S. federal jurisdiction. With a few exceptions, the College is no longer subject to U.S. federal examinations by tax authorities for years before 2011. SCHEDULE D, PART XI, LINE 2D RECONCILIATION OF REVENUE PER AUDITED FINANCIAL STATEMENTS WITH RETURN: SCHOLARSHIPS $(9,508,381) CHANGE IN SPLIT INTEREST AGREEMENTS 1,649,238 BAD DEBT EXPENSE (1,287,995) ------------------- TOTAL $(9,147,138) SCHEDULE D, PART XI, LINE 4B RECONCILIATION OF REVENUE PER AUDITED FINANCIAL STATEMENTS WITH RETURN: AUXILIARY EXPENSE $(3,902,054) RENTAL EXPENSE (7,883) FUNDRAISING EXPENSE (6,593) --------------- TOTAL $(3,916,530) SCHEDULE D, PART XII, LINE 2D RECONCILIATION OF EXPENSE PER AUDITED FINANCIAL STATEMENTS WITH RETURN: AUXILIARY EXPENSE $ 3,902,054 RENTAL EXPENSE 7,883 FUNDRAISING EXPENSE 6,593 --------------- TOTAL $ 3,916,530 SCHEDULE D, PART XII, LINE 4B RECONCILIATION OF EXPENSE PER AUDITED FINANCIAL STATEMENTS WITH RETURN: SCHOLARSHIPS $ 9,508,381 BAD DEBT EXPENSE 1,287,995 ------------------- TOTAL $ 10,796,376 true true true true true true true false false false false false false false false true false true SCHEDULE E, PART I, LINE 3 PUBLICATION OF RACIALLY NONDISCRIMINATORY POLICY TO GENERAL COMMUNITY: THE COLLEGE PUBLICIZES ITS RACIALLY NONDISCRIMINATORY POLICY TO THE GENERAL COMMUNITY IT SERVES THROUGH AN ADVERTISEMENT ONCE A YEAR IN THE LOCAL NEWSPAPER. THE COLLEGE ALSO DISPLAYS THIS SAME NONDISCRIMINATORY POLICY THROUGHOUT THE COLLEGE'S WEBSITE, PRIMARILY IN THE ADMISSIONS AND FINANCIAL AID SECTIONS. IN ADDITION, THE COLLEGE DISPLAYS THE POLICY ON MATERIAL THAT IS SENT OUT TO PROSPECTIVE STUDENTS, INCLUDING THE COLLEGE'S APPLICATION FORM. SCHEDULE E, PART I, LINE 6A FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENTAL AGENCY: THE ORGANIZATION RECEIVES PERKINS AWARDS, PELL, SEOG, ACG, SMART, WORK STUDY, STAFFORD AND PLUS LOANS. CLC DINNER 33720 30350 3370 6368 225 0 33720 30350 3370 6368 225 6593 -3223 true SCHOLARSHIPS & AWARDS 572 9508381 SCHEDULE I, PART I, LINE 2 PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS IN THE U.S.: SCHOLARSHIPS AND OTHER TYPES OF FINANCIAL ASSISTANCE ARE MONITORED BY PROCEDURES THAT INSURE INDIVIDUALS RECEIVING DISBURSEMENTS ARE QUALIFIED TO RECEIVE THE FINANCIAL ASSISTANCE BASED ON THE INSTITUTION'S ASSESSMENT OF FINANCIAL NEED, ACADEMIC ACHIEVEMENT, AND OTHER SIMILAR NEEDS. X X X X X false true X X X X true false false false false false false false false B DAVID ROWE PRESIDENT 167826 0 0 0 67591 0 11099 0 18192 0 264708 0 0 0 MICHAEL R HEMPHILL PROVOST Term date: 12/31/13 175443 0 0 0 33198 0 10636 0 6744 0 226021 0 0 0 WARREN S RAWLES EXECUTIVE VICE PRESIDENT 156098 0 0 0 1078 0 7083 0 6904 0 171163 0 0 0 KENNETH SCHWAB FORMER PRESIDENT EMERITUS 110750 0 0 0 0 0 1538 0 0 0 112288 0 0 0 SCHEDULE J, PART I, LINE 1A BENEFITS PROVIDED TO INDIVIDUALS: THE ORGANIZATION PROVIDES BENEFITS AS INDICATED IN LINE 1A TO THE ORGANIZATION'S TRUSTEES AND PRESIDENT. ANY NON-BUSINESS OR PERSONAL PORTION OF THE BENEFITS PROVIDED HAS BEEN INCLUDED IN THE RECIPIENT'S FORM W-2 AS REQUIRED. SCHEDULE J, PART I, LINE 1B WRITTEN POLICY REGARDING PAYMENT OR REIMBURSEMENT OF EXPENSES: THE COLLEGE DOES NOT REIMBURSE FOR FIRST-CLASS TRAVEL. ON AN INFREQUENT BASIS, COLLEGE EMPLOYEES MAY TRAVEL WITH A BOARD OF TRUSTEE MEMBER ON A CHARTER (OR PRIVATELY-OWNED) PLANE ON COLLEGE BUSINESS. SUCH TRAVEL WOULD TYPICALLY INCLUDE THE PRESIDENT OF THE COLLEGE AND BE AUTHORIZED BY THAT PERSON. HOUSING ALLOWANCES ARE PROVIDED BY CONTRACT TO THE COLLEGE PRESIDENT IN LIEU OF COLLEGE-PROVIDED HOUSING. IN ADDITION, UNDER INTERNAL REVENUE SERVICE RULES, COLLEGE CLERGY MAY MAKE HOUSING ALLOWANCE ELECTIONS TO ALLOCATE A PORTION OF THEIR SALARY TO SUCH AN ALLOWANCE. PROVISION AND PAYMENT OF THESE BENEFITS ARE OUTLINED IN EACH INDIVIDUAL'S EMPLOYMENT CONTRACT. SCHEDULE J, PART I, LINE 4A SEVERANCE PAYMENTS: MONTY L. CURTIS $ 31,937 A LOUISIANA PUBLIC FACILITIES AUTHORITY 720895871 000000000 2011-05-01 14940000 REFINANCE BONDS false false false A 0 0 14940000 0 0 0 151882 0 0 0 14001573 786545 2013 true false true true A false false false false 0 false false false false A false true false false false false 0 false 0 false false A false B DAVID ROWE PRESIDENT HOUSING ASSISTANCE X 120000 40000 false true true 40000 QUERBES NELSON NELSON, OFFICER ON BOARD 110130 COMMISSIONS AND FEES false MCINNIS BROTHERS CONSTRUCTION MCINNIS, MEMBER ON BOARD 221458 RESIDENT HALL PARKING LOT false X 18 1255180 FMV 1 false true true SCHEDULE M, PART I, LINE 32B SALES OF NONCASH CONTRIBUTIONS: THE COLLEGE'S POLICY IS TO SELL ALL MARKETABLE SECURITIES UPON RECEIPT FROM THE DONOR. THE COLLEGE WILL USE ONE OF THE BROKERAGE FIRMS IT HAS AN ACCOUNT WITH TO SELL THE DONATED SECURITIES. FORM 990, PART VI, SECTION A, LINE 1A Delegation of Authority: The executive committee shall consist of the officers of the board, the president and the chairs and vice-chairs of all standing committees. The bishop of the Louisiana Annual Conference shall be an ex-officio, voting member. The executive committee is empowered to act for the board between regular board meetings on all matters except for presidential selection and termination, board member and officer election, mission and purpose changes, amendments to the articles or bylaws, the incurrence of corporate indebtedness, and conferral of degrees. FORM 990, PART VI, SECTION A, LINE 2 RELATIONSHIPS AMONG OFFICERS AND MEMBERS: EDWARD J CRAWFORD, III, AND JOHN E ATKINS HAVE A FAMILY RELATIONSHIP. THE COLLEGE IS UNAWARE OF ANY OTHER FAMILY OR BUSINESS RELATIONSHIPS BETWEEN ANY OFFICER, DIRECTOR, TRUSTEE, OR KEY EMPLOYEE. FORM 990, PART VI, SECTION A, LINE 4 SIGNIFICANT CHANGES TO ORGANIZATIONAL DOCUMENTS: THE BYLAWS WERE AMENDED JUNE 16, 2014. The number of trustees were reduced for a smaller, more manageable board. The Associations of Governing Boards was utilized to bring the bylaws up to date to best practices and to reduce the committee structure. These changes will be put into effect in fiscal year 2015. FORM 990, PART VI, SECTION B, LINE 11B PROCESS TO REVIEW THE FORM 990: THE ORGANIZATION ENGAGES AN ACCOUNTING FIRM TO PREPARE FORM 990. THE FORM 990 IS THEN REVIEWED AND APPROVED BY THE FINANCIAL OFFICE BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C PROCESS FOR MONITORING COMPLIANCE WITH CONFLICT OF INTEREST POLICY: MEMBERS OF THE BOARD OF TRUSTEES AND KEY SENIOR ADMINISTRATORS FILE ANNUALLY WITH THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES A COMPLETED QUESTIONNAIRE THAT IS AN ATTACHED EXHIBIT TO THE CONFLICT OF INTEREST POLICY DETAILING ANY POSSIBLE CONFLICTS OF INTEREST WITH THE INSTITUTION. FORM 990, PART VI, SECTION B, LINE 15A REVIEW OF CEO OR TOP MGMT OFFICIAL COMPENSATION: A REVIEW IS CONDUCTED AT LEAST ANNUALLY BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, SAID COMMITTEE BEING COMPRISED OF THE OFFICERS OF THE BOARD. THE COMMITTEE USES COMPARABILITY DATA, SUCH AS FORM 990S OF OTHER ORGANIZATIONS AND COMPENSATION SURVEYS, AS A BASIS FOR DETERMINING COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS: THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT CURRENTLY MADE AVAILABLE TO THE PUBLIC, EXCEPT UPON REQUEST. FORM 990, PART VII, SECTION A COMPENSATION OF OFFICERS, DIRECTORS, ETC.: BOARD MEMBERS MICHELLE GLAROS, HAROLD CHRISTENSEN, AND DAVID THOMAS RECEIVE COMPENSATION FROM THE ORGANIZATION FOR SERVICES AS FACULTY MEMBERS. THEY DO NOT RECEIVE ANY PART OF THEIR COMPENSATION FOR SERVICES ON THE BOARD OF TRUSTEES. FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS: CHANGE IN SPLIT INTEREST AGREEMENTS $ 1,649,238 CHARITABLE LEAD TRUSTS (10) CHARITABLE TRUST TX NA TRUST