2015-11-16T15:43:47-06:00 2015-05-31 450250958 EIDE BAILLY LLP 1545 ASSOCIATES DR STE 101 DUBUQUE IA 52002 990 2014-06-01 420680408 Clarke University of Dubuque Iowa CLAR 5635886315 1550 Clarke Drive Dubuque IA 52001 Daisy Halvorson Treasurer/VP for Business & Finance 5635886315 2015-11-06 1 Carmen Krantz P00031958 5635561790 2015-10-14 2014 2016-03-07 17:11:31Z Daisy Halvorson 1550 Clarke Drive Dubuque IA 52001 38580604 0 0928 X www.clarke.edu X 1843 IA Catholic, co-educational, liberal arts university educating at post-secondary & graduate level 28 26 781 30 0 0 2495359 2900244 32467574 32252802 2015015 2674670 293018 224019 37270966 38051735 10758646 10802750 0 0 15698069 16419064 137612 149043 1475696 9544651 9053850 36138978 36424707 1131988 1627028 77898648 75730926 19384677 18345414 58513971 57385512 X We are a Catholic, co-educational, liberal arts university founded in 1843 by the Sisters of Charity of the Blessed Virgin Mary in Dubuque, Iowa. Clarke educates students at the post-secondary level in the liberal arts and sciences, the fine arts, selected professional programs, and graduate programs.We, the faculty, students, staff and administration are a caring, learning community committed to excellence in education. We provide a supportive environment that encourages personal and intellectual growth, promotes global awareness and social responsibility, and deepens spiritual values. 0 0 19017622 9088497 27914438 Clarke University is a 4-year non-profit liberal arts and sciences university focused on progressing with the times. Humble beginnings have developed into over 40 undergraduate and 6 graduate programs, including a best-in-class adult education program. We are an institution guided by steadfast principles. We believe one-on-one learning is the ratio for future scholars and laureates. We understand that without proper connections, a quality education is moot. We recognize that easy access to our educators is what sets us apart. It is more than a pledge. It is a progressive framework that has guided us for more than one-and-a-half centuries.Clarke confers the Associate of Arts (AA), Bachelor of Arts (BA), Bachelor of Science (BS), Bachelors of Applied Studies (BAS), Bachelors of Social Work (BSW), Bachelor of Science in Nursing (BSN), Bachelor of Fine Arts (BFA), Master of Arts in Education (MAE), Master of Business Administration (MBA), Master of Organizational Leadership (MOL), Master of Social Work (MSW), Doctor of Nursing Practice (DNP) and Doctor of Physical Therapy (DPT).Over 1,200 students come from 26 states and seven countries.. The average ACT score of the 2014 freshman class was 22 and the average high school grade-point-average was 3.3. In the last five years, an average of 97 percent of survey respondents reported being employed in their field or continuing their education. The student/faculty ratio is 10:1.During the 2014-2015 academic year, 100 percent of Clarke's full-time, day-time students (who were eligible, and applied) received financial aid in the form of scholarships, grants, loans, and work-study. Students are encouraged to apply for financial aid. Renewable, merit-based scholarships include Presidential scholarships, Clarke grants, alumni/sibling discounts, and competitive fine arts and departmental awards.Clarke University does not discriminate on the basis of gender, sex, race, color, national or ethnic origin, sexual orientation, age or disability in the educational programs which it conducts or in its employment policies, practices and procedures. Clarke University complies with all pertinent state and federal regulations concerning affirmative action, nondiscrimination and equal employment opportunity. 6130697 1714253 3873190 Auxiliary Enterprises: Programs available to all 1,200 students including the residence halls, board plans, athletics, and the bookstore. Residence Hall capacity is 571 with occupancy of 428, or 75.0%. In the fall of 2014, all 428 resident students also had board plans with food service. 3409559 465174 Student services: Resources provided to all 1,200 students by student activities, health services, counseling center, career center, admissions and financial aid. 1275804 0 Academic support programs 1275804 0 29833682 1 1 0 0 0 0 0 1 1 1 1 0 0 0 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 70 0 1 781 1 0 0 0 0 0 1 1 0 0 0 0 X 28 26 1 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X Joanne M Burrows SC PhD 5635886385 1550 Clarke Drive Dubuque IA 52001 Margaret Mary Cosgrove BVM Chair 1.00 X X 0 0 0 Robert C Wahlert Vice Chair 1.00 X X 0 0 0 Ann McDonough Secretary 1.00 X X 0 0 0 Mary Lou Anglin BVM Trustee 1.00 X 0 0 0 Mary Rose Corrigan-Psihoyos Trustee 1.00 X 0 0 0 Timothy J Conlon Trustee 1.00 X 0 0 0 Richard P Friedman CPCU Trustee 1.00 X 0 0 0 Carolyn Fitzgerald Gantz Trustee 1.00 X 0 0 0 Margaret Geraghty BVM PhD Trustee 1.00 X 0 0 0 Teri Hawks Goodman Trustee 1.00 X 0 0 0 Richard Gregory Trustee 1.00 X 0 0 0 Suzanne McGovern Juergens Trustee 1.00 X 0 0 0 Nancy Swift Klauer Trustee 1.00 X 0 0 0 Teri Hadro BVM Trustee 1.00 X 0 0 0 Thomas V Lynch CLUCHFC Trustee 1.00 X 0 0 0 Ann Harrington BVM PhD Trustee 1.00 X 0 0 0 Mira Mosle BVM Trustee 1.00 X 0 0 0 Brendan T Quann JD Trustee 1.00 X 0 0 0 James Schmitt Trustee 1.00 X 0 0 0 James H Thompson Trustee 1.00 X 0 0 0 Carolyn Sanders Haupert Trustee 1.00 X 0 0 0 Robert H Wahlert Trustee 1.00 X 0 0 0 RADM Ronald C Wilgenbusch USN Trustee 1.00 X 0 0 0 Thomas P Williams DDS MD Trustee 1.00 X 0 0 0 Rev Thomas R Zinkula Trustee 1.00 X 0 0 0 Mary Ann Zollmann BVM PhD Trustee 1.00 X 0 0 0 Jenifer Collins Westphal Trustee 1.00 X 0 0 0 Joanne M Burrows SC PhD President and Trustee 40.00 X X 201217 0 54948 Daisy Halvorson Treasurer/VP Business/Finance 40.00 X 141573 0 7838 Susan R Burns PhD Provost/VP of Academic Affairs 40.00 X 71030 0 6504 William Biebuyck VP-Institutional Advance 40.00 X 146259 0 28789 Elizabeth Triplett VP-Enrollment Management 40.00 X 146556 0 15162 706635 0 113241 3 0 1 0 Conlon Construction PO Box 3400 Dubuque IA 52004 Construction services 599429 Tri-State Travel PO Box 307 Galena IL 61036 Travel services 157196 Curtis 1000 Inc 2300 Main Street Hugo MN 550389761 Printing/mailing services 133656 Welu Printing Co 1685 Central Avenue Dubuque IA 52001 Professional services 120965 EBSCO PO Box 204661 Dallas TX 75320 Research subscription services 116688 5 9760 32780 926218 1931486 62652 2900244 Tuition and fees 611310 27914438 27914438 Auxiliary enterprises 611710 3873190 3873190 Supporting revenue 900099 246126 246126 Conf/event catering 722320 219048 219048 32252802 970342 970342 51463 0 51463 51463 51463 1704328 0 1704328 1704328 1704328 29407 32780 31680 -2273 -2273 672018 497189 174829 174829 38051735 32252802 0 2898689 10802750 10802750 477403 68201 341001 68201 12901446 10479282 1778217 643947 532875 419253 90670 22952 1600181 612636 937822 49723 907159 714474 149174 43511 143184 76658 66526 36432 36432 87191 87191 149043 149043 88475 88475 420302 184003 236299 287363 284908 2455 2163393 1671149 488625 3619 408375 172271 118052 118052 1013352 1013352 510334 446614 15414 48306 59538 43845 13454 2239 316120 281278 17421 17421 2122499 1888567 116966 116966 148200 34629 113571 Stipends and casual lab 252584 221672 30912 Memberships 166265 54883 108071 3311 Food and entertainment 147265 56361 60916 29988 Bad debt expense 70700 70700 612278 383554 167745 60979 36424707 29833682 5115329 1475696 1810 1810 2525080 3107390 1144185 798956 621726 650224 146145 148079 346045 417564 69013036 33818036 35902620 35195000 33196425 31526081 2145516 2139797 1514009 1538805 355087 207220 77898648 75730926 1732995 1600486 710826 805606 13818756 12967865 99592 96084 858983 737506 150000 100000 2013525 2037867 19384677 18345414 X 40273444 40896212 6033987 3894997 12206540 12594303 58513971 57385512 77898648 75730926 X 1627028 -2762413 6926 X 0 1 X 1 1 1 X 3963442 3652389 3818924 2495359 2900244 16830358 3963442 3652389 3818924 2495359 2900244 16830358 574935 16255423 1092113 1197632 909026 884621 1021805 5105197 21935555 154878589 0.74110 0.72580 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 0 1 X 32895989 305448 -304693 511408 997655 84745 31302936 31436877 265841 4182442 478236 2406345 104590 32895989 29994218 197596 4345265 177397 2855837 66968 31436877 30825048 2200050 -1903236 153993 908377 65274 29994218 26488797 276028 5436190 128881 1167754 79332 30825048 0.62070 0.35370 0.02560 0 0 390119 390119 56227499 25058219 31169280 10105817 7121755 2984062 2289601 1638062 651539 35195000 Due to US Government - loan programs 1150559 Conditional asset retirement obligation 831011 Annuities payable 56297 2037867 X 25678090 -2762413 -10051626 -12814039 38492129 88475 -528869 -440394 38051735 26806549 521943 521943 26284606 88475 10051626 10140101 36424707 Part III, Line 4: The collection consists of a limited heritage edition of world-renowned Saint John's Bible. The heritage edition is a completely handwritten and illustrated re-creation of the original Saint John's Bible. The Saint John's Bible is a significant representation of the Word of God and a compelling work of art. This rare gift to Clarke will serve as a testament to our Catholic heritage and it will be a source of pride for the University and community. The University plans to exhibit the Bible as volumes are received and is planning a speaker series to accompany each volume's arrival. Part IV, Line 2b: Student deposit accounts are held by the University for various student groups on campus. Part V, Line 4: The endowment funds are invested to provide for total return. Spending from the endowment supports scholarship and other educational activities. Part X, Line 2: The University is recognized as exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. The University is subject to federal and state income taxes on any net income from unrelated business activities. The University files a Form 990 (Return of Organization Exempt from Income Tax) annually. When these returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the tax position taken or the amount of the position that would ultimately be sustained. Examples of tax positions common to universities include such matters as the following: the tax exempt status of each entity and various positions relative to potential sources of unrelated business taxable income (UBIT). The benefit of tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes that it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions are not offset or aggregated with other positions. Tax positions that meet the "more likely than not" recognition threshold are measured as the largest amount of tax benefit that is more than 50% likely to be realized on settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for uncertain tax benefits in the accompanying statements of financial position along with any associated interest and penalties that would be payable to the taxing authorities upon examination. As of May 31, 2015 and 2014, there were no uncertain tax benefits identified and recorded as a liability. Prior years' Forms 990-T filed by the University are subject to examination by the Internal Revenue Service (IRS) up to three years from the extended due date of the return. Forms 990-T filed by the University are no longer subject to examination for the fiscal years ended May 31, 2011, and prior. Part XI, Line 2d - Other Adjustments: Scholarships and grants included in expenses for Form 990 -10,051,626. Part XI, Line 4b - Other Adjustments: Book store cost of goods sold included in revenue for Form 990 -497,189. Fundraising expenses included in revenue for Form 990 -31,680. Part XII, Line 2d - Other Adjustments: Book store cost of goods sold included in revenue for Form 990 497,189. Fundraising expenses included in revenue for Form 990 31,680. Adjustment on annuity obligation included in expenses for financial stmts -6,926. Part XII, Line 4b - Other Adjustments: Scholarships and grants included in expenses for Form 990 10,051,626. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Clarke does not make any public disclosures in the media regarding its nondiscrimination policy when recruiting students. However, Clarke does include a statement in the Magazine of Clarke, the website and other printed materials such as brochures and applications. All public job postings include a statement that Clarke is an equal opportunity employer. Schedule E, Part I, Line 6 Financial aid or assistance from a governmental agency is distributed to students using federally approved financial need analysis criteria. X X X X X X X 1 McAllister & Quinn 1030 15th St NW Ste 590 West Washington DC 20005 Grantwriting services 0 0 90456 -90456 The Stelter Company 10435 New York Ave Des Moines IA 50322 Planned giving website and newsletter 0 0 27054 -27054 117510 -117510 IA Golf Classic 62187 32780 29407 22723 5205 3752 62187 32780 29407 22723 5205 3752 31680 -2273 1 Endowed scholarships 327 414259 Endowed awards 42 9650 Institutional scholarships 768 9173232 Federal SEOG grants 174 96300 Tuition remission & other waivers 44 513925 Tuition exchange 9 212120 Advanced education nursing traineeship 32 349385 Part I, Line 2: Grants and scholarships are awarded to students based on specific criteria detailed in the various grant/scholarship agreements. Members of the financial aid office and various scholarship/award committees review records for all potential recipients to ensure that the scholarship/award is being awarded properly. X X 0 1 X X X 0 0 0 0 0 0 0 0 0 Joanne M Burrows SC PhD President and Trustee 200121 0 0 0 1096 0 11659 0 44253 0 257129 0 0 0 Daisy Halvorson Treasurer/VP Business/Finance 140858 0 0 0 715 0 7081 0 1502 0 150156 0 0 0 William Biebuyck VP-Institutional Advance 145163 0 0 0 1096 0 7705 0 21874 0 175838 0 0 0 Elizabeth Triplett VP-Enrollment Management 145841 0 0 0 715 0 7328 0 8605 0 162489 0 0 0 Part I, Line 1a Joanne Burrows, SC, Ph.D., President, receives a housing non-taxable benefit which is reported as other compensation on Form 990, Part VII, Section A, Column (F) and Schedule J, Page 2, Part II, Column (D). A plaque in the house states the house was donated to Clarke for use as the Presidential residence. The President conducts significant business activities and university related entertainment on university property. The residence is owned by Clarke and designated the Official University Presidential House. The Organization pays country club dues on behalf of Joanne Burrows, SC, Ph.D., President and William Biebuyck, Vice President for Institutional Advancement. This is a taxable benefit to the employee and is reported in reportable compensation on Form 990, Part VII, Section A, Column (D) and Schedule J, Part II, Column (B)(III). Part I, Line 1b The Organization does not have its own written policy regarding payment or reimbursement of expenses for the country club dues, however it follows the IRS tax law related to taxable employer benefits for the employees for which the University pays country club dues. A Iowa Higher Education Loan Authority - Series A 421235696 2012-05-25 8000000 Refunding bonds issued 1/22/98 and new science facility 0 0 0 B Iowa Higher Education Loan Authority - Series B 421235696 2012-05-25 8000000 Science facility & other construction to enhance the campus 0 0 0 A 555371 8001039 145753 35853 4472294 3347139 2013 1 0 1 1 B 2476764 8000000 29342 35853 5988894 1945911 2013 0 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 0 1 0 0 0 1 B 0 0 0 0 1 0 0 0 1 A 1 B 1 Schedule K, Part II, Line 11, Column A: The other spent proceeds were used to currently refund bonds originally issued on January 22, 1998. Schedule K, Part II, Line 3, Column A: The amount of interest earned on the bond proceeds while they were held in the project fund was $1,039. Schedule K, Part II, Lines 13 & 16, Column B: The Series A bond was used to refund bonds and construction of the science facility. The Series B bond was for the construction of the science facility and other construction to enhance the campus. Once the Series A bond was used, the Series B bond was used. Final allocation of the Series B bond has not been made. The science facility was completed in August 2013. The final allocation of proceeds has not been made as the University does not plan to use the remaining bond available. Conlon Construction Co Timothy Conlon, Trustee is an owner and officer of Conlon Construction Co. 451892 Payment for construction services 0 X 4758 Thrift store value X 7 52032 Sales price X Gift certificates 14 3044 Face value X Tickets and passes 20 2818 Face value 0 0 1 0 Form 990, Part VI, Section A, line 1 The Chair of the Board of Trustees at each annual meeting appoints an Executive Committee which consists of the Chair of the Board of Trustees, the President of the University, the President of the Sisters of Charity of the Blessed Virgin Mary and not less than five nor more than eleven members selected from the Board of Trustees. The Executive Committee has full charge of the affairs of the corporation between regular meetings of the Board of Trustees, subject to the conditions or limitations hereinafter imposed. Excluded from the powers and authority of this Committee are the following: 1. Power to adopt, amend or repeal the Articles of Incorporation or Bylaws; 2. Election of officers of or filling vacancies on the Board of Trustees; 3. Election of or removal of officers of the corporation; 4. Power to act on mergers or consolidations; 5. Appointment of or discharge of standing committees of the Board of Trustees; 6. Undertaking or authorization of major financing, as defined by the Debt Policy, unless specifically authorized to undertake and to negotiate financing in excess of such amount by the Board of Trustees; 7. Authority to fix officers' compensation unless specially authorized by the Board of Trustees; 8. Power to fix student fees, room and board charges, or tuition, except after presentation to the Board of Trustees and then only within the parameters as are set by the Board of Trustees; 9. Sale, lease or disposition of real estate; 10. Such other aspects of the corporation's business as the Board of Trustees may from time to time by resolution specifically restrict; 11. Confer degrees, earned or honorary. Form 990, Part VI, Section A, line 2 Robert H. Wahlert, Trustee and Robert C. Wahlert, Trustee have a family relationship. Form 990, Part VI, Section A, line 7b The Board of Trustees has general powers, duties, and responsibilities with regard to governance of the organization. In addition, pursuant to the Bylaws of the Organization, a Board of Corporators consisting of nine (9) specific individuals from the Board of Trustees, has authority to: A. adopt, alter, amend or repeal the Bylaws of the Corporation; B. exercise, in its discretion, the power of disaffirmation with regard to Board of Trustee decisions/actions. Disaffirmation requires a majority vote of the Board of Corporators and must be exercised within five (5) days of the Board of Trustee decision/action being disaffirmed; C. exercise such other powers as it may, from time to time, reserve to itself. Each member of the Board of Corporators is entitled to one (1) vote. Form 990, Part VI, Section B, line 11 The review of the Form 990 is delegated by the Board of Trustees of Clarke University to the Audit Committee comprised of members of management of Clarke and several Trustees who serve on the Board. The Audit Committee meets to review the completed Form 990 with the paid tax preparer. Any revisions are made and subsequently approved by the committee prior to the full board meeting. All Trustees receive a final copy of the Form 990 after it is approved by the Audit Committee and before it is filed with the IRS. Form 990, Part VI, Section B, line 12c Any duality of interest or possible conflict of interest on the part of any Board of Trustee member shall be disclosed to the other members of the board of Trustees and made a matter of record through an annual procedure and also when the conflict of interest becomes a matter of action by the Board of Trustees. Any Board of Trustee member having a duality of interest or possible conflict of interest on any matter shall not vote or use his or her personal influence on the matter, and he or she shall not be counted in determining the quorum situation. The foregoing requirements shall not be construed as preventing the Board of Trustee member from briefly stating his or her position in the matter, nor from answering the pertinent questions of other Board of Trustee members since his or her knowledge may be of great assistance. Any new member of the Board will be advised of this policy upon entering upon the duties of his and her office. Form 990, Part VI, Section B, line 15 The Board has a conversation during an executive session meeting each January regarding the President's compensation and the contract terms. A small ad hoc group composed of the Chair, Vice Chair, and Trustee/legal counsel meet to discuss the President's compensation. They review comparative salaries and benefits for other presidents in the Iowa Association of Independent College & Universities (IAICU), and prepare a recommendation for the full Board to approve. The recommendation is approved or rejected by the Board at the April meeting. The Audit Committee reviews the compensation for the other officers of the Organization and uses comparability data from the IAICU for similar positions. The other officers receive the same compensation increase as other salaried and faculty employees on an annual basis. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy and audited financial statements of Clarke University are available upon request. In addition, our university-wide conflict of interest policy is available on our website in the employment manual. Our financial statements are also posted on the National Association of College and University Business Officers' website. Form 990, Part XI, line 9: Adjustment on annuity obligation 6,926.