2015-05-14T13:10:31-05:00 2014-06-30 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2013-07-01 381381271 HOPE COLLEGE HOPE 6163957810 141 E 12TH STREET HOLLAND MI 49423 THOMAS BYLSMA VICE PRESIDENT, CFO 6163957810 2015-05-12 1 VICKI L VANDENBERG CPA P00100422 2695674500 2013 2016-02-25 16:41:14Z THOMAS BYLSMA 141 E 12TH STREET HOLLAND MI 49423 300294974 0 X WWW.HOPE.EDU X 1866 MI THE MISSION OF HOPE COLLEGE IS TO EDUCATE STUDENTS FOR LIVES OF LEADERSHIP AND SERVICE IN A GLOBAL SOCIETY THROUGH ACADEMIC AND CO-CURRICULAR PROGRAMS OF RECOGNIZED EXCELLENCE IN THE LIBERAL ARTS AND IN THE CONTEXT OF THE HISTORIC CHRISTIAN FAITH. 32 27 3471 0 1383114 0 21795997 18350086 121144310 127967458 7131092 22682177 0 1647170 150071399 170646891 31148967 32732164 0 0 54803207 57493322 0 0 4197329 45514844 46726837 131467018 136952323 18604381 33694568 433428447 472505234 99591613 98383185 333836834 374122049 THE MISSION OF HOPE COLLEGE IS TO EDUCATE STUDENTS FOR LIVES OF LEADERSHIP AND SERVICE IN A GLOBAL SOCIETY THROUGH ACADEMIC AND CO-CURRICULAR PROGRAMS OF RECOGNIZED EXCELLENCE IN THE LIBERAL ARTS AND IN THE CONTEXT OF THE HISTORIC CHRISTIAN FAITH. 0 0 120629628 31278977 119758273 THE ORGANIZATION PROVIDED COMPREHENSIVE LITERACY & SCIENCE COURSES OF STUDY TO OVER 3,300 FULL TIME EQUIVALENT STUDENTS IN THE FALL OF 2013 AND 3,100 IN THE SPRING OF 2014. THE ORGANIZATION WAS ALSO INVOLVED IN ADMINISTRATIVE, AUXILLARY OPERATIONS & STUDENT SERVICES TO SUPPORT THE CAMPUS. 5727609 1453187 5563537 THE ORGANIZATION IS INVOLVED IN RESEARCH TO MAINTAIN ONE OF THE TOP CHEMISTRY & BIOLOGY DEPTS IN THE COUNTRY, UTILIZE RESEARCH AS A TEACHING TOOL IN THE CLASSROOM & TO FACILITATE LEARNING. 126357237 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 285 0 1 3471 1 1 1 0 0 0 0 1 1 0 0 0 0 X 32 27 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MI X THOMAS BYLSMA VICE-PRESIDENT CFO 6163957810 HOPE COLLEGE 141 E 12TH ST HOLLAND MI 49423 MARY BAUMAN CHAIRPERSON 1.00 X X 0 0 0 WILLIAM R BOERSMA VICE-CHAIR 1.00 X X 0 0 0 DAVID W LOWRY SECRETARY 1.00 X X 0 0 0 JOHN C KNAPP PRESIDENT 40.00 X X 195386 0 41104 JEFFREY S ALLEN TRUSTEE 1.00 X 0 0 0 DAVID M BAST TRUSTEE 1.00 X 0 0 0 ANTHONY R CASTILLO TRUSTEE 1.00 X 0 0 0 DAVID B CHARNIN TRUSTEE 1.00 X 0 0 0 THOMAS H CLAUS TRUSTEE 1.00 X 0 0 0 ANNIE G DANDAVATI TRUSTEE/PROFESSOR 40.00 X 81491 0 21856 BARBARA DEPREE TRUSTEE 1.00 X 0 0 0 NANCY DIRKSE DEWITT TRUSTEE 1.00 X 0 0 0 J LINDSEY DOOD TRUSTEE 1.00 X 0 0 0 KENNETH G ELZINGA TRUSTEE 1.00 X 0 0 0 KENNETH W ERIKS TRUSTEE 1.00 X 0 0 0 THEDORE S ETHERIDGE TRUSTEE 1.00 X 0 0 0 DANIEL GORDON TRUSTEE 1.00 X 0 0 0 LISA C GRANGER TRUSTEE 1.00 X 0 0 0 TAYLOR W HOLBROOK TRUSTEE 1.00 X 0 0 0 JAMES L JURRIES TRUSTEE 1.00 X 0 0 0 MONICA NEWENDORP TRUSTEE 1.00 X 0 0 0 DEAN L OVERMAN TRUSTEE 1.00 X 0 0 0 GERALD J PILLAY TRUSTEE 1.00 X 0 0 0 DOUGLAS C RUCH TRUSTEE 1.00 X 0 0 0 A PAUL SCHAAP TRUSTEE 1.00 X 0 0 0 BETH A SNYDER TRUSTEE 1.00 X 0 0 0 JOANNE STEWART TRUSTEE/PROFESSOR 40.00 X 81933 0 9245 DAVID L VAN ANDEL TRUSTEE 1.00 X 0 0 0 MARK VAN GENDEREN TRUSTEE 1.00 X 0 0 0 D SCOTT VAN OOSTENDORP TRUSTEE 1.00 X 0 0 0 JILL VER STEEG TRUSTEE 1.00 X 0 0 0 EMILIE D WIERDA TRUSTEE 1.00 X 0 0 0 LESLIE B WONG TRUSTEE 1.00 X 0 0 0 THOMAS BYLSMA CFO 40.00 X 184805 0 59912 RICHARD A FROST VP OF STUDENT DEVELOPMENT 40.00 X 133840 0 51966 RICHARD RAY PROVOST 40.00 X 168340 0 29146 WILLIAM VANDERBILT VP FOR ADMISSIONS 40.00 X 154840 0 30223 DAVE VANDERWEL VP FOR ADVANCEMENT -THROUGH DEC 2013 40.00 X 154187 0 18676 CARL E HEIDEMAN DIR OF PROCESS/INNOVATION 40.00 X 121650 0 26977 JOHN KRUPCZAK FACULTY 40.00 X 120338 0 71364 PETER SCHAKEL FACULTY 40.00 X 129148 0 18388 GREG MAYBURY DIRECTOR-PHYS PLT 40.00 X 133770 0 57184 TODD STEEN FACULTY 40.00 X 130860 0 23095 JAMES E BULTMAN FORMER PRESIDENT 40.00 X 180268 0 41496 1970856 0 500632 37 1 1 0 CREATIVE DINING SERVICE ONE ROYAL PARK DRIVE SUITE 3 ZEELAND MI 49464 FOOD SERVICE MANAGEMENT 9620613 GO CONSTRUCTION 300 IONIA AVE NW GRAND RAPIDS MI 49503 CONSTRUCTION SERVICES 7385075 BLUE CROSS-BLUE SHIELD MICHIGAN 86 MONROE CENTER NW GRAND RAPIDS MI 49503 HEALTH INSURANCE ADMINISTRATION 5859463 GDK CONSTRUCTION CO 12 WEST 8TH STREET SUITE 2 HOLLAND MI 49423 CONSTRUCTION SERVICES 1722370 HGA ARCHITECTS & ENGINEERS LLC SDS 12-1861 PO BOX 86 MINNEAPOLIS MN 554861861 ARCHITECT & ENGINEER 1667835 30 3772672 14577414 607578 18350086 TUITION & FEES 611600 95958650 95958650 AUXILIARY ENTERPRISES 611600 24804957 24804957 BOOKSTORE INCOME 611600 2726427 2726427 HAWORTH CONFERENCE CTR. 721000 2146133 633538 1512595 OTHER PROGRAM INCOME 900099 1577779 1577779 753512 253997 499515 127967458 1663374 1663374 150666886 129648083 21018803 21018803 21018803 OTHER REVENUE 900099 1647170 250061 1397109 1647170 170646891 125321810 1383114 25591881 32732164 32732164 1234910 1155077 43124 36709 44308803 40116970 2387587 1804246 3488196 3108831 218646 160719 5341849 4775823 336367 229659 3119564 2833240 160231 126093 79837 27752 52085 95050 95050 782197 782197 2200298 1744160 165242 290896 842132 486785 -28301 383648 4727298 4348485 99104 279709 1248160 1116759 105834 25567 4376311 4222449 83112 70750 3570280 3233617 64159 272504 581602 323627 252105 5870 1865577 1665960 169394 30223 6724903 6005338 610621 108944 491770 358204 128706 4860 FOOD SERVICE & LAUNDRY 8487921 8316279 37948 133694 TUITION WAIVERS 2804889 2504290 158097 142502 INVENTORY PURCHASES 2006425 1879205 68721 58499 OTHER MAINTENANCE & REP 1445478 1389840 30054 25584 4396709 4012382 377674 6653 136952323 126357237 6397757 4197329 45821171 41725416 46328370 39345467 7908495 9166217 833873 785214 925275 1427459 271899089 97227703 162735736 174671386 70088814 63497892 98108200 141386279 678513 499904 433428447 472505234 2773017 5721516 447172 1035213 60725000 57030000 35646424 34596456 99591613 98383185 X 134533891 152082894 75971525 92294096 123331418 129745059 333836834 374122049 433428447 472505234 X 33694568 7598529 -1007882 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 106011 X X X 0 175036306 9937514 28400349 7175116 206199053 163587087 4318541 13857992 6727314 175036306 166265929 4482293 -813518 6347617 163587087 147340680 2892355 22269678 6236784 166265929 136409372 7210456 9924183 6203331 147340680 0.18350 0.62740 0.18920 0 0 22818018 22818018 202571735 78460621 124111114 28849602 18767082 10082520 17659734 17659734 174671386 LIMITED PARTNERSHIPS AND HEDGE FUNDS 84966055 F MORTGAGES, LAND CONTRACTS & OTHER 28569827 F PRIVATE EQUITY, ALTERNATIVES, OTHER 27850397 F 141386279 ANNUITIES PAYABLE & TRUSTS 8776348 ACCUMULATED POST-RETIREMENT BENEFITS 9122371 REFUNDABLE FEDERAL PERKINS LOAN ADVANCES 5894104 STUDENTS' AND OTHER DEPOSITS 1803469 ACCRUED LIABILITIES 5359824 INTERST RATE SWAP 3640340 34596456 X 143727055 7598529 3878 -1007882 6594525 137132530 782197 32732164 33514361 170646891 103441840 3878 3878 103437962 782197 32732164 33514361 136952323 PART III, LINE 4: HOPE COLLEGE, THROUGH THE CONSTRUCTION (2004-05) OF THE MARTHA MILLER CENTER FOR INTERNATIONAL COMMUNICATIONS, HAS PURCHASED $79,000 IN PIECES OF ART THAT ARE ON PERMANENT DISPLAY IN THIS BUILDING. ALSO AS A PART OF PREPARING FOR THE OPENING OF HOPE'S KRUIZENGA ART MUSEUM (FALL 2015), HOPE'S DIRECTOR OF THE MUSEUM HAS BEEN ACQUIRING STRATEGIC PIECES OF ART TO PUT ON DISPLAY IN THE NEW ART GALLERY WHICH WILL ASSIST THE COLLEGE'S ART, HISTORY, AND CULTURAL HERITAGE COMPONENTS OF OUR CURRICULUM. PART X, LINE 2: ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES - THE COLLEGE IS A NOT-FOR-PROFIT CORPORATION AND HAS BEEN RECOGNIZED AS TAX-EXEMPT PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE COLLEGE AND RECOGNIZE A TAX LIABILITY IF THE COLLEGE HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE COLLEGE AND HAS CONCLUDED THAT AS OF JUNE 30, 2014, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE COLLEGE IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO JUNE 30, 2011. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGES IN VALUE OF SPLIT INTEREST AGREEMENT -1,046,685. CHANGE IN VALUE OF SWAP AGREEMENTS -207,683. CHANGE IN POST RETIREMENT 246,486. PART XI, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL SCHOLARSHIPS & FELLOWSHIPS 32,732,164. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL SCHOLARSHIPS & FELLOWSHIPS 32,732,164. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 RACIALLY NONDISCRIMINATORY POLICY STATEMENT IS INCLUDED ON VARIOUS PUBLICITY & POLICY STATEMENTS, INCLUDING OUR WEBSITE & TELEVISION ADS, AS WELL AS OUR CATALOG & STUDENT HANDBOOK, WHICH IS AVAILABLE UPON REQUEST. SCHEDULE E, PART I, LINE 6 HOPE COLLEGE RECEIVES GRANTS AND FINANCIAL AID FROM VARIOUS FEDERAL AND STATE AGENCIES THAT ARE USED IN THE FURTHERANCE OF THE COLLEGE'S EXEMPT PURPOSE OF PROVIDING QUALITY EDUCATION. EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, DONOR RELATIONS ALUMNI/DONOR VISITS 5000 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, PROGRAM SERVICES SUMMER TERM COURSES 8000 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, PROGRAM SERVICES STUDENT RECRUITMENT 1500 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM DONOR RELATIONS ALUMNI/DONOR VISITS 3510 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM PROGRAM SERVICES RESEARCH 5000 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM PROGRAM SERVICES SUMMER TERM COURSES 378331 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM PROGRAM SERVICES STUDENT RECRUITMENT 4500 SUB SAHARAN AFRICA PROGRAM SERVICES SUMMER TERM COURSES 49770 NORTH AMERICA PROGRAM SERVICES SUMMER TERM COURSES 8085 SOUTH ASIA PROGRAM SERVICES SUMMER TERM COURSES 27000 0 0 0 0 0 0 455611 35085 490696 1 0 1 0 1 0 1 SCHOLARSHIP - TUITION/BOOKS 2913 32732164 N/A N/A PART I, LINE 2: HOPE SCHOLARSHIP/GRANT FUNDS ARE DISBURSED TO THE RECIPIENT UPON PROOF OF ELIGILIBITY (I.E. FINANCIAL NEED OR ACADEMIC MERIT) AND UPON PROOF OF EXPENSE INCURRED. X X 0 0 X X X X 0 0 0 0 0 0 0 0 0 JOHN C KNAPP PRESIDENT 172503 0 0 0 22883 0 0 0 41104 0 236490 0 0 0 THOMAS BYLSMA CFO 177565 0 0 0 7240 0 18638 0 41274 0 244717 0 0 0 RICHARD A FROST VP OF STUDENT DEVELOPMENT 130000 0 0 0 3840 0 13650 0 38316 0 185806 0 0 0 RICHARD RAY PROVOST 164500 0 0 0 3840 0 17273 0 11873 0 197486 0 0 0 WILLIAM VANDERBILT VP FOR ADMISSIONS 151000 0 0 0 3840 0 15855 0 14368 0 185063 0 0 0 DAVE VANDERWEL VP FOR ADVANCEMENT -THROUGH DEC 2013 154187 0 0 0 0 0 15225 0 3451 0 172863 0 0 0 JOHN KRUPCZAK FACULTY 120338 0 0 0 0 0 12635 0 58729 0 191702 0 0 0 GREG MAYBURY DIRECTOR-PHYS PLT 131850 0 0 0 1920 0 13844 0 43340 0 190954 0 0 0 TODD STEEN FACULTY 130860 0 0 0 0 0 12185 0 10910 0 153955 0 0 0 JAMES E BULTMAN FORMER PRESIDENT 180268 0 0 0 0 0 15516 0 25980 0 221764 0 0 0 PART I, LINE 1A THE PRESIDENT IS REQUIRED TO LIVE ON CAMPUS AS PART OF HIS EMPLOYMENT WITH THE COLLEGE. INCLUDED IN NONTAXABLE BENEFITS IS THE FAIR MARKET VALUE OF THE USAGE OF THE PRESIDENT'S HOME WHICH IS VALUED AT $13,285. THE COLLEGE PROVIDES ANNUAL MEMBERSHIPS TO A LOCAL MARINA AND GOLF CLUB AS A WAY TO PROMOTE THE COLLEGE. THE VALUES OF THESE MEMBERSHIPS ARE $9,510 AND $6,800 REPSECTIVELY AND ARE SPLIT BETWEEN TAXABLE INCOME AND OTHER NON-TAXABLE INCOME ($7,133/$2,377) AND ($3,400/$3,400). A MICHIGAN HIGHER EDUCATION FACILITIES AUTHORITY 521285150 594519D23 2004-07-28 25000000 SEE PART VI 0 0 0 B MICHIGAN FINANCE AUTHORITY 800595186 NONEAVAIL 2010-12-17 10200000 SEE PART VI 0 0 0 C THE ECONOMIC DEVELOPMENT CORPORATION OF THE COUNTY OF OTTAWA 386004883 NONEAVAIL 2011-12-14 10000000 SEE PART VI 0 0 0 D MICHIGAN FINANCE AUTHORITY 800595186 NONEAVAIL 2012-03-28 11220000 SEE PART VI 0 0 0 A 9900000 26112952 781245 218550 135996 15398706 9578455 2006 1 0 1 1 B 3045000 10200000 10200000 1 0 1 1 C 2060000 10000000 1040 9998960 0 1 1 1 D 20000 11220000 5000000 6220000 1 0 1 1 A 0 0 1 1 0 0 0 0 D 0 0 1 1 0 0 0 0 A 1 1 0 0 0 0 B 0 0 1 0 1 0 0 0 0 C 0 1 1 0 1 0 0 0 0 D 0 1 0 0 1 0 0 0 0 A 0 B 0 C 0 D 0 SCHEDULE K, PART I, ROW A(1), COLUMN F: THE PURPOSE OF THE BONDS ISSUED ON JULY 28, 2004 IS (A) TO CURRENTLY REFUND (I) A PORTION OF THE MICHIGAN HIGHER EDUCATION FACILITIES AUTHORITY ("MHEFA") LIMITED OBLIGATION REVENUE AND REVENUE REFUNDING BONDS, SERIES 1994 (HOPE COLLEGE PROJECT), DATED JUNE 16, 1994 (THE "SERIES 1994 BONDS"), AND (II) THE MHEFA LIMITED OBLIGATION REVENUE BONDS (HOPE COLLEGE PROJECT), SERIES 1996B, DATED JUNE 4, 1996 (THE "SERIES 1996 BONDS"), (B) TO PAY THE COSTS OF CONSTRUCTING, EQUIPPING AND FURNISHING THE DEVOS FIELD HOUSE AND THE MARTHA MILLER CENTER FOR GLOBAL COMMUNICATIONS, AND RENOVATING GRAVES HALL, LUBBERS HALL AND THE DOW CENTER, (C) TO PAY CAPITALIZED INTEREST ON THE NEW MONEY PORTION OF THE BONDS, AND (D) TO PAY THE COSTS OF ISSUING AND SECURING THE BONDS. SCHEDULE K, PART I, ROW B(1), COLUMN F: THE PURPOSE OF THE BONDS ISSUED ON DECEMBER 17, 2010 IS TO CURRENTLY REFUND THE MHEFA LIMITED OBLIGATION REVENUE REFUNDING BONDS (HOPE COLLEGE PROJECT), SERIES 1999, DATED MARCH 24, 1999. SCHEDULE K, PART I, ROW C(1), COLUMN F: THE PURPOSE OF THE BONDS ISSUED ON DECEMBER 14, 2011 IS TO ADVANCE REFUND A PORTION OF THE MHEFA LIMITED OBLIGATION REVENUE BONDS (HOPE COLLEGE PROJECT), SERIES 2002A, DATED MAY 7, 2002 (THE "SERIES 2002A BONDS"). SCHEDULE K, PART I, ROW D(1), COLUMN F: THE PURPOSE OF THE BONDS ISSUED ON MARCH 28, 2012 IS (A) TO CURRENTLY REFUND A PORTION OF THE SERIES 2002A BONDS, AND (B) TO PAY THE COSTS OF THE ACQUISITION, CONSTRUCTION, FURNISHING AND EQUIPPING OF STUDENT HOUSING FACILITIES AND THE RENOVATION, REFURNISHING AND RE-EQUIPPING OF DINING FACILITIES AT PHELPS HALL AND RELATED PARKING AND SITE IMPROVEMENTS. SCHEDULE K, PART I, ROW A(2), COLUMN F: THE PURPOSE OF THE BONDS ISSUED ON AUGUST 8, 2013 IS TO CURRENTLY REFUND THE MICHIGAN HIGHER EDUCATION FACILITIES AUTHORITY VARIABLE RATE DEMAND LIMITED OBLIGATION REVENUE BONDS (HOPE COLLEGE PROJECT), SERIES 2002B, DATED MAY 7, 2002. SCHEDULE K, PART II, LINE 3A, COLUMN A(1): TOTAL PROCEEDS INCLUDES INVESTMENT PROCEEDS OF $1,112,952 FOR COLUMN A. SCHEDULE K, PART III, LINE 3A, COLUMN A(1): THERE IS A FOOD SERVICE CONTRACT THAT QUALIFIES FOR THE SAFE HARBOR UNDER REV. PROC. 97-13. SCHEDULE K, PART III, LINE 3A, COLUMN D(1): THERE IS A FOOD SERVICE CONTRACT THAT QUALIFIES FOR THE SAFE HARBOR UNDER REV. PROC. 97-13. SCHEDULE K, PART III: PART III IS NOT APPLICABLE TO THE PORTION OF COLUMN A(1) WHICH IS ALLOCATED TO REFUNDING THE SERIES 1994 BONDS AND THE SERIES 1996 BONDS, COLUMN B(1), COLUMN C(1), THE PORTION OF COLUMN D(1) THAT IS ALLOCATED TO REFUNDING THE SERIES 2002A BONDS, AND COLUMN A(2), WHICH WERE ISSUED PRIOR TO 2003. SCHEDULE K, PART IV, LINE 2B, COLUMN D(1): IT IS NOT YET KNOWN WHETHER THE BONDS ISSUED ON MARCH 28, 2012 WILL QUALIFY FOR AN EXCEPTION TO REBATE. A MICHIGAN FINANCE AUTHORITY 800595186 NONEAVAIL 2013-08-08 16255000 SEE PART VI 0 0 0 A 620000 16255000 16255000 1 0 1 1 A 0 1 1 0 1 0 0 0 0 A 0 PRINTERY AND MULTI PACKAGING SOLUTIONS MR. TED ETHERIDGE IS A BOARD MEMBER OF HOPE COLLEGE AND SHAREHOLDER 217407 MR. TED ETHERIDGE IS A SHAREHOLDER OF THE PRINTERY AND MULTI PACKAGING SOLUTIONS WHICH ARE BOTH VENDORS OF THE COLLEGE. ALL PURCHASES WERE COMPETITIVELY BID. 0 CREATIVE DINING SERVICES MR. THOMAS BYLSMA IS AN OFFICER OF HOPE COLLEGE AND A BOARD MEMBER 1107878 MR. THOMAS BYLSMA IS A BOARD MEMBER OF CREATIVE DINING SERVICES. FINANCIAL ARRANGEMENT IS COMPETITIVELY PRICED. COSTS INCLUDE FOOD SERVICE MANAGEMENT OF $248,400 AND FOOD SERVICE COSTS OF $9,290,463. 0 CREATIVE DINING SERVICES MR. RICHARD FROST IS AN OFFICER OF HOPE COLLEGE AND A BOARD MEMBER 1107878 MR. RICHARD FROST IS A BOARD MEMBER OF CREATIVE DINING SERVICES. FINANCIAL ARRANGEMENT IS COMPETITIVELY PRICED. COSTS INCLUDE FOOD SERVICE MANAGEMENT OF $248,400 AND FOOD SERVICE COSTS OF $9,290,463. 0 LUMIR CORPORATION MS. EMILIE WIERDA IS A BOARD MEMBER AND THE DAUGHTER OF AN OWNER OF LUMIR 289177 MS. EMILIE WIERDA IS A BOARD MEMBER OF HOPE COLLEGE AND IS THE DAUGHTER OF ELSA PRINCE BROEKHUIZEN WHO IS THE MAJORITY OWNER OF LUMIR CORPORATION FROM WHOM THE COLLEGE RENTS STUDENT HOUSING. 0 X 326 FMV X 56 2553826 NYSE - FMV X LASER CUT TUB 1 7450 FMV X WATERFOWL COL 1 3265 FMV X TOOLS 1 750 FMV X OTHER 5 110 FMV 0 1 1 PART I, LINE 32B: THE ORGANIZATION USES A STOCK BROKER TO SELL SECURITIES SHORTLY AFTER RECEIPT. FORM 990, PART VI, SECTION B, LINE 11 MEMBERS OF THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES ARE PROVIDED WITH A REASONABLE OPPORTUNITY TO REVIEW AND COMMENT TO EXECUTIVE LEADERSHIP ON THE FORM 990 OF HOPE COLLEGE BEFORE IT IS FILED WITH THE INTERNAL REVENUE SERVICE. FURTHER, THE EXECUTIVE LEADERSHIP OF HOPE COLLEGE PROVIDES THE MINUTES OF THE AUDIT COMMITTEE FORM 990 REVIEW TO THE BOARD OF TRUSTEES SHOWING AN OVERVIEW OF THE HIGHLIGHTS AT THE NEXT REGULARLY SCHEDULED BOARD MEETING FOLLOWING THE FILING OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE BOARD OF TRUSTEES PREPARE AND SIGN CONFLICT STATEMENTS ANNUALLY. THESE STATEMENTS ARE REVIEWED AND PROVIDED TO TRUSTEE MEMBERS AT THE OCTOBER BOARD OF TRUSTEE MEETING TO ENSURE COMPLIANCE WITH THE CONFLICT POLICY. MEMBERS OF THE COMMITTEE WITH A PERSONAL INVOLVEMENT IN A PARTICULAR DECISION WILL EXCUSE THEMSELVES FROM DISCUSSION LEADING TO A DECISION AND FROM THE DECISION ITSELF, AND THIS DISCLOSURE AND ABSENCE WILL BE NOTED IN THE MINUTES OF THE MEETING. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES (BOT) APPROVES A RECOMMENDED COMPENSATION INCREASE BROUGHT TO THE BOT FROM THE CFO. THE COMPENSATION INCREASE IS HIGHLY CORRELATED TO THE TUITION INCREASE APPROVED FOR THE FOLLOWING ACADEMIC YEAR. THE RATES RECOMMENDED ARE DETERMINED BY LOOKING AT THE FOLLOWING FACTORS: COST OF LIVING (CPI), CUPA (COLLEGE AND UNIVERSITY PERSONNEL ASSOCIATION) SURVEYS, AND THE LAKESHORE HUMAN RESOURCES MANAGEMENT ASSOCIATION SURVEYS - WHICH IS A CHAPTER OF THE SOCIETY OF HUMAN RESOURCES MANAGEMENT (SHRM). SINCE WE ARE NOT A "UNION" SCHOOL WE DO NOT HAVE DELIBERATION BUT IF DISCUSSION DOES OCCUR DURING THE BOT APPROVAL PROCESS, IT WOULD BE DOCUMENTED IN THE BOT MINUTES FOR THAT SPECIFIC MEETING. THE CEO'S (PRESIDENT'S) COMPENSATION IS BASED UPON A RECOMMENDATION FROM THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES AND IS THEN APPROVED BY THE FULL BOARD OF TRUSTEES. COMPARISON DATA IS USED ALONG WITH EVALUATION OF PERFORMANCE IN THEIR DECISION. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION MAKES FORM 990 AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN SPLIT VALUE INTEREST AGREEMENTS -1,046,685. CHANGE IN POST RETIREMENT 246,486. CHANGE IN VALUE OF SWAP AGREEMENTS -207,683. FORM 990, PART XII, LINE 2C THE OVERSIGHT PROCESS FOR THE AUDIT HAS NOT CHANGED SINCE LAST YEAR.