2015-05-13T17:07:06-05:00 2014-06-30 990 2013-07-01 440562048 PARK UNIVERSITY PARK 8165846432 8700 NW RIVER PARK DRIVE PARKVILLE MO 64152 MATTHEW VAN HOESEN INTERIM CFO 8165846432 2015-05-13 2015-05-13 2013 2016-02-25 16:41:14Z PRESIDENT MICHAEL H DROGE 8700 NW RIVER PARK DRIVE PARKVILLE MO 64152 115938085 false X WWW.PARK.EDU X 1879 MO PARK UNIVERSITY PROVIDES ACCESS TO A QUALITY HIGHER EDUCATION EXPERIENCE THAT PREPARES A DIVERSE COMMUNITY OF LEARNERS TO THINK CRITICALLY, COMMUNICATE EFFECTIVELY, DEMONSTRATE A GLOBAL PERSPECTIVE AND ENGAGE IN LIFELONG LEARNING AND SERVICE TO OTHERS. 27 27 2533 410 0 1526791 1938554 81635135 75909992 2407690 2404417 2004993 2338409 87574609 82591372 5786828 5407178 0 47137146 47309903 0 779737 24838195 27587422 77762169 80304503 9812440 2286869 133822950 140013534 36063329 34379882 97759621 105633652 X PARK UNIVERSITY PROVIDES ACCESS TO A QUALITY HIGHER EDUCATION EXPERIENCE THAT PREPARES A DIVERSE COMMUNITY OF LEARNERS TO THINK CRITICALLY, COMMUNICATE EFFECTIVELY, DEMONSTRATE A GLOBAL PERSPECTIVE AND ENGAGE IN LIFELONG LEARNING AND SERVICE TO OTHERS. false false 56567880 5407178 73322841 PROVIDING HIGHER EDUCATION TO STUDENTS: THESE ARE EXPENSES CONNECTED WITH INSTRUCTION, ACADEMIC SUPPORT, AND STUDENT SERVICES, AND ALL OTHER CAMPUS RELATED FUNCTIONS. CURRENTLY PARK UNIVERSITY SERVES APPROXIMATELY 20,000 STUDENTS ANNUALLY IN THE PARKVILLE, MISSOURI AREA, IN THE KANSAS CITY AREA, AT REMOTE LOCATION CAMPUSES, AND ONLINE. 3962825 2587151 AUXILIARY: THESE ARE EXPENSES CONNECTED WITH STUDENT HOUSING, FOOD SERVICE, AND A FITNESS CENTER. 60530705 true true false true false false false false false true true false false false true false true false true true true false false false true false false false true true true false true false false false false false false false true false true false false true true true true false false true 145 0 true 2533 true false false false false false true true false false false false false false X 27 27 false false false false false true false true true false true true true true true true true true true true false X X MATTHEW VANHOESEN - INTERIM CFO 8165846432 8700 NW RIVER PARK DRIVE PARKVILLE MO 64152 LYNN BONDURANT TRUSTEE 2.00 X 0 0 0 KRIS FLINT TRUSTEE 2.00 X 0 0 0 ANN MESLE TRUSTEE,CHAI 3.00 X X 0 0 0 JOHN MILLER TRUSTEE 2.00 X 0 0 0 ROSEMARY PLAKAS TRUSTEE 2.00 X 0 0 0 JEANETTE PRENGER TRUSTEE 2.00 X 0 0 0 DAVID WARM TRUSTEE 2.00 X 0 0 0 GAYDEN F CARRUTH TRUSTEE 2.00 X 0 0 0 PETER J DESILVA TRUSTEE, SEC 3.00 X X 0 0 0 KATHLEEN J DODD TRUSTEE 2.00 X 0 0 0 THOMAS H HOLCOM TRUSTEE, VIC 3.00 X X 0 0 0 SUSAN MCGAUGHEY TRUSTEE 2.00 X 0 0 0 DENNY EPPERSON TRUSTEE 2.00 X 0 0 0 BENJAMIN T ELKINS TRUSTEE 2.00 X 0 0 0 DANNY K SAKATA TRUSTEE 2.00 X 0 0 0 JUDITH M SIMONITSCH TRUSTEE 3.00 0.45 X 0 0 0 RICHARD E THODE TRUSTEE 2.00 X 0 0 0 ERIC WADE TRUSTEE 2.00 0.30 X 0 0 0 JULIE WILSON TRUSTEE 2.00 X 0 0 0 MICHAEL COLLINS TRUSTEE 2.00 X 0 0 0 MARK FOSTER TRUSTEE 3.00 0.30 X 0 0 0 DENNIS FISHER TRUSTEE 2.00 X 0 0 0 PETE KALE TRUSTEE 2.00 X 0 0 0 SCOTT MCRUER TRUSTEE, TRE 3.00 0.45 X X 0 0 0 JOSEPH MELOOKARAN TRUSTEE 2.00 X 0 0 0 RAYMOND MOTT TRUSTEE 2.00 X 0 0 0 BRENT W MILES TRUSTEE 2.00 X 0 0 0 MICHAEL H DROGE PRESIDENT 60.00 0.30 X 389222 0 26475 ROGER W HERSHEY VP & GENERAL 60.00 3.50 X 234061 0 22185 JERRY D JORGENSEN PROVOST & VP 60.00 X 198084 0 13068 DORLA D WATKINS VP FIN & ADM 60.00 0.45 X 183582 0 14888 LAURIE D MCCORMACK VP UNIVERSIT 60.00 X 167392 0 19666 RITA WEIGHILL VP COMMUNICA 60.00 X 121079 0 9774 THIMIOS ZAHAROPOULOS VP GLOBAL LE 30.00 X 80664 0 7114 PAUL GAULT SPECIAL ASST 20.00 0.45 X 19717 0 5546 COURTNEY G HAWKINSON ASSOC VP GEN 60.00 X 152076 0 9116 BRAD A KLEINDL DEAN SCH OF 60.00 X 134004 0 17777 CLARINDA CREIGHTON ASSOC VP STU 60.00 X 129870 0 17309 LAURIE NDIPADOVA-STOCKS DEAN HSPA 60.00 X 122871 0 16700 CHARLES KATER ASSOC VP DIS 60.00 X 118448 0 4799 2051070 184417 18 false true false NCS PEARSON ECOLLEGE 2154 E COMMONS AVE STE 4000 CENTENNIAL CO 80122 DISTANT LEARNIN 2682853 MBS TEXTBOOK EXCHANGE PO BOX 617 COLUMBIA MO 65205 TEXTBOOKS 1336558 UMB BANK PBC CARD PO BOX 419734 KANSAS CITY MO 64141 PROCURE CARD 1071558 SODEXO 4550 CASCADE RD SE STE 206 GRAND RAPIDS MI 49546 DINING/FOOD MGT 871192 JENZABAR INC PO BOX 828187 PHILADELPHIA PA 191828187 DOC MGMT 742814 5 411713 1526841 15999 1938554 TUITION AND FEES 611600 73322841 73322841 AUXILIARY ENTERPRISES 611710 2587151 2587151 75909992 2227418 2227418 1054159 1054159 627895 627895 627895 627895 27838770 5587162 33248933 -5410163 5587162 176999 -5410163 5587162 35048 411713 97780 -62732 -62732 OTHER SOURCES 611710 651112 651112 RECOVERY AND INDIRECT COSTS 541900 67975 67975 719087 82591372 71218916 9433902 5407178 5407178 1310747 303768 876078 130901 39056027 29811704 8863990 380333 1124775 779745 334806 10224 2750167 1555901 1153367 40899 3068187 2244106 793407 30674 145544 145544 377705 377705 207110 207110 3728116 2868153 851206 8757 3173723 2676583 358178 138962 1874133 795242 1039904 38987 1491560 221731 1269829 1854397 954608 899789 958472 767961 190511 816556 453816 362740 77612 68421 9191 3024445 2666287 358158 453931 95512 358419 EDUCATION & GENERAL 5441293 4897164 544129 AUXILIARY 3962825 3962825 80304503 60530705 18994061 779737 17770043 15335928 4340250 2936794 358362 409883 3708270 3145730 58018 56328 929347 1048136 105543829 41552209 63597978 63991620 43060682 53089115 133822950 140013534 8818873 8856603 4492752 3576315 19165000 18515000 2615778 2238089 970926 1193875 36063329 34379882 X 57585092 58896571 8348275 12126034 31826254 34611047 97759621 105633652 133822950 140013534 X 2286869 5587162 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 559 29 588 79524178 79524766 1000000 250000 1000000 1000000 1000000 1000000 4000000 6000000 2368 1191 1999 588 6146 250000 250000 250000 250000 1000000 1500000 1756 1148 1927 559 5390 51854266 354628 10586947 -2550305 -511911 59733625 46407276 314479 7061205 -1488848 -439848 51854266 42517750 300933 5794975 -1561296 -645086 46407276 38414287 434855 6524250 -1010200 -865842 42517750 36041268 160451 5398395 -506064 -2553246 38414287 0.26490 0.58390 0.15120 true false 12810853 359717 13170570 55451415 21075281 34376134 36921844 20476928 16444916 63991620 REFUNDABLE FEDERAL STUDENT LOANS 1193875 1193875 X 82771356 5587162 5587162 77184194 5407178 5407178 82591372 74897325 74897325 5407178 5407178 80304503 SCHEDULE D, PAGE 4, PART XI, LINE 4B GRANTS & OTHER ASSISTANCE TO INDIVIDUALS IN THE US 5,407,178 SCHEDULE D, PAGE 4, PART XII, LINE 4B GRANTS & OTHER ASSISTANCE TO INDIVIDUALS IN THE US 5,407,178 - 0 SCHEDULE D, PAGE 4, PART XIII PART X - FIN 48 FOOTNOTE THE INTERNAL REVENUE SERVICE HAS RULED THAT THE UNIVERSITY QUALIFIES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AS A TAX EXEMPT ORGANIZATION, AND IS THEREFORE, NOT SUBJECT TO TAX UNDER PRESENT INCOME TAX LAWS; HOWEVER, CERTAIN INCOME THAT IS CONSIDERED UNRELATED BUSINESS INCOME COULD BE SUBJECT TO TAXATION. PART XIII - SUPPLEMENTAL FINANCIAL INFORMATION PART V, LINE 4 - INTENDED USES FOR ENDOWMENT FUNDS THE INTENDED USE FOR THE ENDOWMENT FUNDS IS TO PROVIDE FUNDS FOR OPERATIONS, SCHOLARSHIPS, AND ACADEMIC PROGRAMS. true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3 ALL VISUAL ADVERTISEMENTS INCLUDE OTHER UNDER SERVED CONSTITUENCIES. ALL EMPLOYMENT ADVERTISING INCLUDES AFFIRMATIVE ACTION LANGUAGE. SCHEDULE E, LINE 6 PARK UNIVERSITY RECEIVED THE FOLLOWING TYPES OF US DEPARTMENT OF EDUCATION FUNDS/MONIES: FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANTS, FEDERAL DIRECT LOANS, FEDERAL WORKSTUDY, FEDERAL PERKINS LOAN, FEDERAL PELL GRANTS, TEACHER EDUCATION ASSISTANCE FOR COLLEGE AND HIGHER EDUCATION GRANTS. TAIPEI, TAIWAN 10688 1 1 EDUCATION MANAGEMENT STUDENT SERVICES 1500 LONDON, ENGLAND 1 1 EDUCATION MANAGEMENT STUDENT SERVICES 35150 KOWLOON, HONG KONG, CHINA 1 1 EDUCATION MANAGEMENT STUDENT SERVICES 24416 3 3 3 3 61066 61066 false false false false false false SCHEDULE F, PAGE 1, PART I, LINE 3 TAIPEI, TAIWAN 10688 1,500 0 LONDON, ENGLAND 35,150 0 KOWLOON, HONG KONG, CHINA 24,416 0 BALLYHOO 406411 375771 30640 4500 20961 750 55861 GOLF TOURNAMENT 40350 35942 4408 2835 10537 1709 627 446761 411713 35048 2835 15037 22670 750 56488 97780 -62732 true ATHLETIC SCHOLARSHIPS 196 1497493 ACADEMIC SCHOLARSHIPS 1136 3909685 SCHEDULE I, PAGE 1, PART I, LINE 2 IN AS MUCH AS ALL GRANTS ARE NON-CASH ASSISTANCE FOR STUDENT RECIPIENTS' TUITION, ROOM, BOARD OR BOOKS, WHEN SUCH REMISSION OCCURS, IT IS A DIRECT REDUCTION OF THE STUDENT'S FEES TO THE UNIVERSITY. SINCE NO GRANT FUNDS ARE IN DIRECT CONTROL OF THE RECIPIENT, THE RECIPIENT IS NOT IN A POSITION TO DIVERT THE GRANT FROM INTENDED USE. FOR ATHLETIC SCHOLARSHIPS, THE ATHLETIC DIRECTOR AND DIRECTOR OF STUDENT FINANCIAL SERVICES, TO ENSURE COMPLIANCE WITH NAIA RULES, MUST MONITOR SCHOLARSHIP EXPENDITURES FOR EACH STUDENT AND PROGRAM. X X X true true X X X X X false false false false false false false false false MICHAEL H DROGE PRESIDENT 388430 792 19600 6875 415697 ROGER W HERSHEY VP & GENERAL COUNSEL 232537 1524 13398 8787 256246 JERRY D JORGENSEN PROVOST & VP ACAD AF 197568 516 6120 6948 211152 DORLA D WATKINS VP FIN & ADMIN 183066 516 10241 4647 198470 LAURIE D MCCORMACK VP UNIVERSITY ADV 166876 516 10489 9177 187058 COURTNEY G HAWKINSON ASSOC VP GEN COUNSEL 152006 70 9116 161192 BRAD A KLEINDL DEAN SCH OF BUSINESS 133540 464 8600 9177 151781 SCHEDULE J, PART III PART I, LINE 1A - FRINGE OR EXPENSE EXPLANATION PARK UNIVERSITY PROVIDED ON CAMPUS HOUSING TO THE PRESIDENT. THE FAIR MARKET VALUE OF THE HOUSING QUALIFIED AS A NON-TAXABLE BENEFIT UNDER CODE SECTION 119, AND IS NOT INCLUDED ON FORM W-2. PARK UNIVERSITY PROVIDED PERSONAL SERVICES IN THE FORM OF HOUSEKEEPING SERVICES IN THE PRESIDENT'S ON CAMPUS RESIDENCE TO ACCOMODATE THE SIGNIFICANT NUMBER OF TIMES THE RESIDENCE WAS USED AS A LESS FORMAL MEETING VENUE FOR THE PRESIDENT TO INTERACT WITH DONORS, TRUSTEES, VISITING DIGNITARIES, PROFESSORS, SPEAKERS, PERFORMERS, ETC. THE FAIR MARKET VALUE WAS NOT TREATED AS TAXABLE INCOME BECAUSE THE COSTS OF HOUSEKEEPING ASSOCIATED WITH THE SIGNIFICANT "PUBLIC" USE OF THE RESIDENCE WAS DEEMED TO BE AN APPROPRIATE BUSINESS EXPENSE. PARK UNIVERSITY PROVIDED SPOUSAL TRAVEL TO THE PRESIDENT. THE FAIR MARKET VALUE WAS NOT TREATED AS TAXABLE COMPENSATION BECAUSE THE TRAVEL WAS DEEMED TO BE FOR THE BONA FIDE BUSINESSS PURPOSES OF THE UNIVERSITY. A IDA OF PARKVILLE MISSOURI 440562048 701533AA9 2007-09-13 22000000 STUDENT RESIDENCE true false false A 18515000 21891303 2008 true false true true A false false false false false false true A false false false false false false false false false SCHEDULE K - ADDITIONAL INFORMATION IDA OF PARKVILLE MISSOURI 18,515,000 IN PART II, LINE 3, COLUMN A, REFLECTS THE AMOUNT OF PRINCIPAL OUTSTANDING FOR THE BOND ISSUE, WHICH WAS ORIGINALLY 22,000,000, AS SHOWN IN PART I, LINE A, COLUMN (E). UMB NA BANKING 1071558 BANKING RELATIONSHIP false PRAIRIE CAPITAL BANK SUBSIDIARY 49457 INVESTMENT CONSULT false SCHEDULE L, PART V FORM 990, SCHEDULE L, PART IV, LINE 1 NAME OF INTERESTED PERSON UMB BANK, N.A. RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION BANKING AMOUNT OF TRANSACTIONS 1,071,558 DESCRIPTION OF TRANSACTIONS SINCE 1975 UMB BANK, NA ("UMB") (OF WHICH TRUSTEE PETER DESILVA IS THE CHAIRMAN AND CHIEF EXECUTIVE OFFICER), HAS HAD BANKING RELATIONSHIPS WITH PARK UNIVERSITY ("UNIVERSITY"). HISTORICALLY UMB HAS PROVIDED LINES OF CREDIT (1986), BANKCARD SERVICES (1997), ENDOWMENT INVESTMENT SERVICES (1975)AND OTHER COMMERCIAL BANKING SERVICES TO PARK UNIVERSITY ("UNIVERSITY"). IN 2005, THE UNIVERSITY ACCELERATED PLANNING FOR CONSTRUCTION OF A MAJOR NEW RESIDENCE HALL AND A REHABILITATED EXERCISE CENTER ("PROJECT"). IN PREPARATION FOR THAT PROJECT THE UNIVERSITY EXPLORED MANY FINANCING OPTIONS AND INTEREVIEWED TWO INTENSELY COMPETITIVE FIRMS, NEITHER OF WHICH MATCHED UMB'S SERVICE, PRICE, OR RESPONSIVENESS. THE UMB PARTICIPATION IN THE PROJECT WAS A MAJOR CONTRIBUTING FACTOR TO THE SUCCESSFUL COMPLETION OF THE PROJECT ON TIME AND WITHIN BUDGET. BEYOND THAT, UMB HAS HISTORICALLY BEEN EXCEPTIONALLY SUPPORTIVE OF PARK UNIVERSITY IN DIFFICULT FINANCIAL TIMES WHEN OTHER LENDERS WOULD NOT HAVE BEEN SO COOPERATIVE. FORM 990, SCHEDULE L, PART IV, LINE 2 NAME OF INTERESTED PERSON PRAIRIE CAPITAL RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION BANK SUBSIDIARY AMOUNT OF TRANSACTIONS 49,457 DESCRIPTION OF TRANSACTIONS SINCE 1975 UMB BANK, N.A. ("UMBB"), A SUBSIDIARY OF UMB FINANCIAL CORPORATION, ("UMBF"), HAS HAD BANKING RELATIONSHIPS WITH PARK UNIVERSITY ("PARK"). TRUSTEE PETER DESILVA BECAME A MEMBER OF THE UNIVERSITY'S BOARD OF TRUSTEES ("BOARD") ON JULY 1, 2006 AND WAS A TRUSTEE DURING THE PERIOD COVERED BY THIS ANNUAL 990 ("REPORTING PERIOD")DURING WHICH TIME HE SERVED AS PRESIDENT AND CHIEF OPERATING OFFICER OF UMBB AND UMBF. HISTORICALLY, UMBB HAS PROVIDED TO PARK LINES OF CREDIT (1986), BANKCARD SERVICES (1997), ENDOWMENT INVESTMENT SERVIES (1975), AND SERVICES RELATED TO THE BOND FINANCING OF NEW STUDENT HOUSING (2005). IN JULY 2010, UMBF ACQUIRED A SUBSIDIARY NOW KNOWN AS PRAIRIE CAPITAL MANAGEMENT, LLC ("PCM") WHICH IS A SISTER COMPANY TO UMBB. IN 2012/2013, PARK UNDERTOOK TO IDENTIFY FIRMS ABLE AND WILLING TO ASSIST PARK WITH MANAGEMENT OF ITS ENDOWMENT MONEY MANAGERS. DURING THAT EFFORT PCM WAS IDENTIFED AS A FINALIST. AFTER CONSIDERING AND INTERVIEWING COMPETING RESPONDENTS, PCM WAS SELECTED, AND HAS PROVIDED SUCH SERVICES SINCE MARCH OF 2012. FROM 2010 THROUGH THE REPORTING PERIOD, MR. DESILVA SERVED ON THE PCM BOARD OF DIRECTORS. MR. DESILVA WAS NOT AWARE OF THE UNIVERSITY'S 2012/2013 SEARCH OF ENDOWMENT MANAGEMENT ADVISORY SERVICES, NOR WAS HE AWARE OF PARK'S SELECTION OF PCM UNTIL AFTER THE FACT. HE PARTICIPATED IN NO MEETING OF THE PARK BOARD OR ITS COMMITTEES THAT WERE INVOLVED IN THE ESTABLISHMENT OR ONGOING NATURE OF THE PCM RELATIONSHIP. BEYOND THAT, UMBB HAS LONG BEEN EXCEPTIONALLY SUPPORTIVE OF PARK IN DIFFICULT FINANCIAL TIMES WHEN OTHER LENDERS WOULD NOT HAVE BEEN SO COOPERATIVE. X 2 6100 MARKET VALUE X 1 30 MARKET VALUE X 1050 REPLACEMENT COSTS X 1000 COST X 1 5047 MARKET VALUE X 2 200 COST X PRINTING 1 1072 COST X 15 TKTS SPORTS 1 1500 COST 1 false true true SCHEDULE M, PAGE 1, PART I, LINE 32B AN INDEPENDENT BROKER IS USED TO SELL GIFTS OF SECURITIES. FORM 990 - ORGANIZATION'S MISSION PARK UNIVERSITY PROVIDES ACCESS TO A QUALITY HIGHER EDUCATION EXPERIENCE THAT PREPARES A DIVERSE COMMUNITY OF LEARNERS TO THINK CRITICALLY, COMMUNICATE EFFECTIVELY, DEMONSTRATE A GLOBAL PERSPECTIVE AND ENGAGE IN LIFELONG LEARNING AND SERVICE TO OTHERS. FORM 990, PAGE 6, PART VI, LINE 7A THE PRESIDENT OF THE PARK UNIVERSITY ALUMNI ASSOCIATION, IF NOT AN EMPLOYEE OF PARK UNIVERSITY, SERVES EX OFFICIO AS A VOTING TRUSTEE. THAT PRESIDENT IS SELECTED BY THE MEMBERS OF THE PARK UNIVERSITY ALUMNI ASSOCIATION. IF THAT PRESIDENT IS UNABLE TO SERVE, THAT ASSOCIATION IS ENTITLED TO NOMINATE, BUT NOT ELECT, A SUBSTITUTE TRUSTEE. FORM 990, PAGE 6, PART VI, LINE 11B THE DRAFT FOR THE FORM 990 IS PREPARED BY THE UNIVERSITY'S CONTROLLER AND THEN REVIEWED BY THE CHIEF FINANCIAL OFFICER AND MEMBERS OF THE AUDIT COMMITTEE BEFORE IT WAS FILED WITH THE INTERNAL REVENUE SERVICE ("IRS"). THE FORMAL 990 REVIEW WAS CONDUCTED BY THE AUDIT COMMITTEE AT A MEETING TO WHICH ALL TRUSTEES WERE INVITED AND ENCOURAGED TO ATTEND. A NUMBER OF NON-AUDIT COMMITTEE TRUSTEES PARTICIPATED IN THE AUDIT COMMITTEE'S 990 REVIEW MEETING. ALSO PRIOR TO FILING THE UNIVERSITY'S 990 WITH THE IRS, ALL TRUSTEES WERE NOTIFIED THAT THE 990 HAD BEEN POSTED FOR THEIR REVIEW ON THE UNIVERSITY'S SECURE, CONFIDENTIAL, ELECTRONIC "BOARD PORTAL." THE BOARD PORTAL IS THE CHANNEL UTILIZED BY THE UNIVERSITY TO PROVIDE MANAGEMENT AND GOVERNANCE INFORMATION TO THE BOARD. FORM 990, PAGE 6, PART VI, LINE 12C THE BOARD OF TRUSTEES ("BOARD") OF PARK UNIVERSITY HAS ADOPTED AND REGULARLY MONITORS THE IMPLEMENTATION, PERIODIC REVIEW, AND UPDATING, OF THE PARK UNIVERSITY CONFLICT OF INTEREST POLICY ("POLICY"). AT LEAST ONCE EACH YEAR, EACH "INTERESTED PERSON" (AS DEFINED IN THE POLICY), UNIVERSITY OFFICERS, UNIVERSITY TRUSTEES, AND KEY EMPLOYEES OF THE UNIVERSITY ARE REQUIRED TO FILE A PARK UNIVERSITY CONFLICT OF INTEREST DISCLOSURE STATEMENT ("DISCLOSURE STATEMENT"). IN ADDITION, INTERESTED PERSONS ARE REQUIRED TO FILE UPDATED DISCLOSURE STATEMENTS AT ANYTIME POTENTIAL OR ACTUAL CONFLICTS OF INTEREST ARISE. WHEN NEW TRUSTEES ARE ELECTED TO THE BOARD AND WHEN EMPLOYEES BECOME INTERESTED PERSONS, EACH IS REQUIRED TO FILE A DISCLOSURE STATEMENT. ATTORNEYS IN THE OFFICE OF GENERAL COUNSEL, COLLECT AND REVIEW THE NATURE OF THE CONFLICTS AND RELATED INFORMATION REPORTED ON THE DISCLOSURE STATEMENTS. THE BOARD OF TRUSTEES HAS DELEGATED TO THE AUDIT COMMITTEE THE AUTHORITY TO TAKE ACTIONS DESCRIBED BELOW. THE AUDIT COMMITTEE INITIATES AN INQUIRY INTO WHETHER A CONFLICT OF INTEREST EXISTS. AN INTERESTED PERSON WHO IS THE SUBJECT OF AN AUDIT COMMITTEE CONFLICTS INQUIRY MAY PRESENT INFORMATION RELEVANT TO THE EXISTENCE OF A CONFLICT OF INTEREST. HOWEVER, THE INTERESTED PERSON MAY NOT PARTICIPATE IN THE DELIBERATIONS OF THE AUDIT COMMITTEE, AND EVEN IF THE INTERESTED PERSON IS A MEMBER OF THE AUDIT COMMITTEE, THE INTERESTED PERSON MAY NOT PARTICIPATE IN THE DELIBERATIONS OF THE AUDIT COMMITTEE THAT ARE RELATED TO THE CONFLICT INQUIRY, AND MAY NOT VOTE ON ANY ISSUE RELATED TO THE CONFLICT INQUIRY, INCLUDING THE EXISTENCE OF A CONFLICT OF INTEREST OR ANY ACTIONS TO BE TAKEN BY THE AUDIT COMMITTEE, THE EXECUTIVE COMMITTEE OR THE BOARD AS A RESULT OF THE EXISTENCE OF A CONFLICT ON INTEREST. THE CHAIR OF THE AUDIT COMMITTEE KEEPS THE BOARD CHAIR, THE EXECUTIVE COMMITTEE, THE TRUSTEESHIP COMMITTEE,THE BOARD OF TRUSTEES AND THE VICE-PRESIDENT & GENERAL COUNSEL APPRISED OF THE STATUS OF CONFLICT-RELATED INQUIRIES AND OTHER CONFLICT-RELATED MATTERS THAT ARE WITHIN THE PURVIEW OF THE AUDIT COMMITTEE. THE AUDIT COMMITTEE CHAIR, BOARD CHAIR, AND OTHER TRUSTEES REGULARLY SEEK LEGAL COUNSEL FROM THE VICE PRESIDENT & GENERAL COUNSEL'S OFFICE REGARDING CONFLICTS RELATED ISSUES. NO TRUSTEE (MEMBER OF THE BOARD OF TRUSTEES OR THE EXECUTIVE COMMITTEE) WHO HAS A CONFLICT OF INTEREST MAY PARTICIPATE IN DELIBERATIONS OR ANY DECISION MAKING RELATED TO THAT CONFLICT OF INTEREST. FORM 990, PAGE 6, PART VI, LINE 15A THE BOARD EXECUTIVE COMMITTEE FUNCTIONS AS THE UNIVERSITY'S "AUTHORIZED BODY" WITH REGARDS TO THE COMPENSATION OF THE UNIVERSITY PRESIDENT (WHO IS THE CEO AND TOP MANAGEMENT OFFICIAL OF THE UNIVERSITY), AND THE COMPENSATION OF UNIVERSITY OFFICERS. THE EXECUTIVE COMMITTEE HAS A COMPENSATION ADVISORY SUBCOMMITTEE THAT FOCUSES ON THESE MATTERS, ASSISTS THE EXECUTIVE COMMITTEE, AND MAKES RECOMMENDATIONS TO THE EXECUTIVE COMMITTEE, BUT MAKES NO DECISIONS REGARDING EXECUTIVE COMPENSATION MATTERS. NO TRUSTEE (MEMBER OF THE BOARD OF TRUSTEES OR THE EXECUTIVE COMMITTEE)WHO HAS A CONFLICT OF INTEREST WITH RESPECT TO A COMPENSATION ARRANGEMENT MAY PARTICIPATE IN COMPENSATION DELIBERATIONS OR IN ANY DECISION MAKING OF THE EXECUTIVE COMMITTEE THAT ARE RELATED TO A CONFLICT OF INTEREST OF THE TRUSTEE. THE EXECUTIVE COMMITTEE AND THE PRESIDENT, WITH ASSISTANCE FROM THE VICE PRESIDENT OF FINANCE AND ADMINISTRATION AND THE VICE PRESIDENT & GENERAL COUNSEL OBTAIN COMPARABLE COMPENSATION INFORMATION FROM A VARIETY OF SOURCES, INCLUDING THE MOST CURRENT ADMINISTRATIVE COMPENSATION SURVEY PRODUCED BY THE COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION FOR HUMAN RESOURCES ("CUPA SURVEY") AND THE JOINT COMPENSATION AND BENEFITS PROVISION OF LEGAL SERVICES SURVEY REPORT ("NACUA SURVEY") PERIODICALLY COMPILED BY THE NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY ATTORNEYS. THE EXECUTIVE COMMITTEE ALSO CONSIDERS COMPENSATION DATA THAT MAY BE AVAILABLE FROM OTHER SOURCES SUCH AS THE CHRONICLE OF HIGHER EDUCATION. THE EXECUTIVE COMMITTEE USES THAT DATA IN ITS PERIODIC COMPENSATION DELIBERATIONS. THE CUPA SURVEY INCLUDES DATA REGARDING COMPENSATION OF PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. THE NACUA SURVEY INCLUDES DATA REGARDING COMPENSATION OF ATTORNEYS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED UNIVERSITIES. THE PRESIDENT OF THE UNIVERSITY MAKES RECOMMENDATIONS TO THE EXECUTIVE COMMITTEE REGARDING THE COMPENSATION OF VICE PRESIDENTS OF THE UNIVERSITY AND MAY PARTICIPATE IN DELIBERATIONS RELATED TO COMPENSATION OF UNIVERSITY EMPLOYEES WHOSE COMPENSATION IS CONSIDERED BY THE BOARD CHAIR, THE EXECUTIVE COMMITTEE AND/OR THE BOARD OF TRUSTEES. DELIBERATIONS OF THE EXECUTIVE COMMITTEE REGARDING EXECUTIVE COMPENSATION ARE CONTEMPORANEOUSLY DOCUMENTED AND RECORDS REGARDING EXECUTIVE COMPENSATIONS ARRANGEMENTS ARE MAINTAINED. FORM 990, PAGE 6, PART VI, LINE 15B SEE SCHEDULE O, PART IV LINE 15A FOR COMPENSATION PROCESS FOR OTHER OFFICERS. FORM 990, PAGE 6, PART VI, LINE 19 THE PARK UNIVERSITY ("UNIVERSITY") ARTICLES OF INCORPORATION AND AMENDMENTS THERETO ARE PUBLICLY AVAILABLE IN THE OFFICE OF THE MISSOURI SECRETARY OF STATE. THE UNIVERSITY ENTERTAINS REQUESTS FOR COPIES OF THE CONFLICTS OF INTEREST POLICY. THE UNIVERSITY PROVIDES FINANCIAL INFORMATION ABOUT THE UNIVERSITY TO THE PUBLIC VIA ITS FORM 990. FORM 990, PART XI, LINE 9 GRANTS & OTHER ASSISTANCE TO INDIVIDUALS IN THE US -5,407,178 GRANTS & OTHER ASSISTANCE TO INDIVIDUALS IN THE US 5,407,178 - 0 FORM 990, PART XI, LINE 9 GRANTS & OTHER ASSISTANCE TO INDIVIDUALS 5,407,178 GRANTS & OTHER ASSISTANCE TO INDIVIDUALS 5,407,178 PARK VISTA LLC 8700 NW RIVER PARK DRIVE PARKVILLE MO 64152 440562048 LEASING MO 237185 PARK UNIV PARK UNIVERSITY ENTERPRISES INC 5700 BROADMOOR ST MISSION KS 662022415 431830400 BUS EDUC MO 501C3 11A PARK UNIV false false false true false false false false false false false false false false false false false false false false PARK UNIVERSITY ENTERPRISES INC C 80000 SCHEDULE R SCHEDULE R, PART IV PARK UNIVERSITY DOES RECEIVE INCOME FROM THE GEORGE DAVIS TRUSTS, BUT DISTRIBUTIONS DO NOT EXCEED 25%.