2015-01-22T16:55:14-06:00 2014-06-30 383635706 REHMANN ROBSON LLC 555 BRIARWOOD CIRCLE 300 ANN ARBOR MI 48108 990 2013-07-01 381393841 CLEARY UNIVERSITY CLEA 7343324477 3601 PLYMOUTH ROAD ANN ARBOR MI 48105 THOMAS SULLIVAN PRESIDENT 7343324477 2015-01-20 1 KATHLEEN M UNDERHILL P00589677 7347612005 2015-01-20 2013 2016-02-25 16:41:14Z THOMAS SULLIVAN 3601 PLYMOUTH ROAD ANN ARBOR MI 48105 9920471 0 X WWW.CLEARY.EDU X 1883 MI PROVIDE PRACTICAL SKILLS AND VALID CREDENTIALS TO ADVANCE STUDENTS' BUSINESS CAREERS. 26 26 238 15 5157 -25686 1303338 1530249 6804410 6760722 44995 6079 481241 343003 8633984 8640053 1081522 1265166 0 0 3996889 3816996 0 0 87550 3878258 3472840 8956669 8555002 -322685 85051 18634564 18569076 8624808 8448449 10009756 10120627 TO ENRICH STUDENTS' LIVES THROUGH THE KNOWLEDGE, SKILLS, AND CREDENTIALS THAT ADVANCE CAREERS. 0 0 4375191 1265166 6768677 OPERATION OF UNIVERSITY & INSTRUCTION COST 4375191 1 1 0 0 0 0 0 1 0 1 1 0 0 0 0 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 1 905 0 1 238 1 1 1 0 0 0 0 1 1 0 0 0 0 X 26 26 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 1 1 X X TOM SULLIVAN PRESIDENT 7343324477 3601 PLYMOUTH ROAD ANN ARBOR MI 481052659 IAN SCHONSHECK TRUSTEE 2.00 X 0 0 0 RAYMOND KING III CHAIR 2.00 X 0 0 0 PATRICK CLEARY II TRUSTEE 2.00 X 0 0 0 JOHN KLEE TRUSTEE 2.00 X 0 0 0 ANNE MCKENNY TRUSTEE 2.00 X 0 0 0 WILLIAM DAVIS JR TRUSTEE 2.00 X 0 0 0 FRANK FIKE OFFICER-AT-LARGE 2.00 X 0 0 0 JOHN EDWARDS TRUSTEE 2.00 X 0 0 0 ANDREW EGGAN TRUSTEE 2.00 X 0 0 0 R JAMES GORENFLO TRUSTEE 2.00 X 0 0 0 DAVID ITSELL OFFICER-AT-LARGE 2.00 X 0 0 0 DANIEL MILSTEIN TRUSTEE 2.00 X 0 0 0 DANTE BALLARIO VICE CHAIR 2.00 X 0 0 0 TIM CODD TRUSTEE 2.00 X 0 0 0 MILTON WEIDMAYER TREASURER 2.00 X 0 0 0 CAROL ALEXANDER OFFICER-AT-LARGE 2.00 X 0 0 0 GLYNIS MCBAIN OFFICER-AT-LARGE 2.00 X 0 0 0 NINA MCCLELLAND TRUSTEE 2.00 X 0 0 0 DOUGLAS RITTER SECRETARY 2.00 X 0 0 0 JOHN KUDERIK VICE TREASURER 2.00 X 0 0 0 STANLEY DICKSON TRUSTEE 2.00 X 0 0 0 PAUL GOBEILLE TRUSTEE 2.00 X 0 0 0 MARGARET BORYCZKA GUPTA TRUSTEE 2.00 X 0 0 0 BRET MILLER TRUSTEE 2.00 X 0 0 0 JOHN MOYER TRUSTEE 2.00 X 0 0 0 RICH PERLBERG TRUSTEE 2.00 X 0 0 0 THOMAS SULLIVAN PRESIDENT & CEO 40.00 X 184992 0 20508 JUDITH L WALKER VICE PRESIDENT FINANCE & ADMIN 40.00 X 107051 0 9782 VINCE P LINDER VICE PRESIDENT & PROVOST 40.00 X 107818 0 9909 MATTHEW BENNETT VICE PRESIDENT COMMUNICATION 40.00 X 50000 0 7585 449861 0 47784 3 0 1 0 0 8900 125118 1396231 885600 1530249 TUITION AND FEES 611600 6646792 6646792 OTHER PROGRAM SERVICE 611600 113930 113930 6760722 48118 48118 256704 0 256704 256704 256704 1185214 1227253 -42039 -42039 -42039 114379 8900 41192 73187 73187 25085 11973 13112 7955 5157 8640053 6768677 5157 335970 1265166 1265166 554268 229548 324720 2699084 1876230 816104 6750 96265 51350 44915 240941 137427 103514 226438 120788 105650 6910 6910 65192 65192 540616 45833 494783 486807 31600 455207 194891 15577 179314 122784 122784 31032 5661 25371 43624 1616 42008 82800 82800 760405 760405 35160 35160 OTHER 503893 182098 249015 72780 BOOKS & PERIODICALS 315998 282240 33758 BOOKSTORE EXPENSES 116002 116002 EQUIPMENT 89478 0 89478 77248 14055 55173 8020 8555002 4375191 4092261 87550 389749 349357 69089 1021705 359785 324292 124864 140258 65038 58302 78978 113157 16739074 4916275 14623537 11822799 1346424 860599 1577100 3878607 18634564 18569076 1177528 1341904 1258938 1202183 6188342 5904362 8624808 8448449 X 8166627 7980822 782695 1057800 1060434 1082005 10009756 10120627 18634564 18569076 85051 25820 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 885600 885600 X 0 2829391 55204 31805 15500 2900900 2821368 61730 -12511 41197 2829391 2676823 73829 93997 23283 2821368 2528387 67757 110699 30020 2676823 2252044 105725 190501 19883 2528387 0.51690 0.37300 0.11010 0 0 1026127 1026127 11799245 2630939 9168306 1168955 324280 844675 2673793 1961056 712737 70954 70954 11822799 ARTWORK 995563 ART HELD FOR RESALE 323150 CHARITABLE REMAINDER UNITRUST INTEREST 149694 DEPOSIT WITH TRUSTEE 51 BOND ISSUANCE COSTS, NET 210817 PROPERTY HELD FOR SALE 2199332 3878607 X 7469372 25820 -1196501 -1170681 8640053 0 8640053 7358501 -1196501 -1196501 8555002 0 8555002 PART III, LINE 4: ARTHUR SECUNDA ART WORK - THE UNIVERSITY IS CREATING THE ARTHUR SECUNDA MUSEUM AT ITS LIVINGSTON CAMPUS. THE MUSEUM WILL ENHANCE THE VISIBILITY, REPUTATION AND EDUCATIONAL MISSION OF CLEARY UNIVERSITY BY REINFORCING THAT THE UNIVERSITY IS A SOPHISTICATED INSTITUTION IN WHICH STUDENTS CAN PLACE THEIR CONFIDENCE. THE ADDITION OF THE MUSEUM WILL FACILITATE STUDY IN THE FIELD OF ARTS MANAGEMENT, EXAMINATION OF THE ARTIST AS ENTREPRENEUR, AND THE USE OF THE ART TO STIMULATE CREATIVITY AMONG THE BUSINESS STUDENTS. PART V, LINE 4: THE INTENDED USE OF THE TERM AND PERMANENT ENDOWMENT FUNDS IS TO FUND STUDENT SCHOLARSHIPS. THE QUASI-ENDOWMENT FUND MAY BE USED AS A RESERVE OR IN CASE OF EMERGENCY FOR THE OPERATIONS OF THE UNIVERSITY. PART X, LINE 2: THE UNIVERSITY HAS EVALUATED ITS INCOME TAX FILING POSITIONS FOR FISCAL YEARS 2010 THROUGH 2014, THE YEARS WHICH REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS AS OF JUNE 30, 2014. THE UNIVERSITY CONCLUDED THAT THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION IN THE UNIVERSITY'S FINANCIAL STATEMENTS. THE UNIVERSITY DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS ("UTB") (E.G., TAX DEDUCTIONS, EXCLUSIONS, OR CREDITS CLAIMED OR EXPECTED TO BE CLAIMED) TO SIGNIFICANTLY CHANGE IN THE NEXT TWELVE MONTHS. THE UNIVERSITY DOES NOT HAVE ANY AMOUNTS ACCRUED FOR INTEREST AND PENALTIES RELATED TO UTB'S AT JUNE 30, 2014 OR 2013, AND ARE NOT AWARE OF ANY CLAIMS FOR SUCH AMOUNTS BY FEDERAL OR STATE INCOME TAX AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 5,380. SPECIAL EVENTS EXPENSES 41,192. GRANTS & SCHOLARSHIPS -1,249,666. COST OF GOODS SOLD - CATALOGUES 6,593. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 5,380. SPECIAL EVENTS EXPENSES 41,192. GRANTS & SCHOLARSHIPS -1,249,666. COST OF GOODS SOLD - CATALOGUES 6,593. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE POLICY IS AVAILABLE ON THE SCHOOL'S WEBSITE. SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVED $14,882 FROM THE US DEPT OF HOUSING & URBAN DEVELOPMENT FOR THE HEALTH & WELLNESS CENTER RENOVATION. CLEARY UNIVERSITY PARTICIPATES IN STUDENT AID PROGRAMS SUPPORTED BY THE DEPARTMENT OF EDUCATION. AUCTION 102148 8900 93248 2970 25172 GOLF OUTING 12595 12595 9205 3845 1 8536 8536 123279 8900 114379 2970 9205 29017 41192 73187 1 VA MILITARY GRANT 38 158113 CLEARY INSTITUTIONAL GRANT 32 23068 CLEARY SCHOLARSHIP 4 9334 COMMUNITY COLLEGE & ALUMNI DISCOUNT 12 30776 CLEARY CONTINUITY GRANT 326 108127 NEXT STEP GRANT 14 12967 WILBURN M. BARWICK SCHOLARSHIP 3 5000 ROBERT & BESS COOK ENDOWED SCHOLARSHIP 1 1000 SULLIVAN ENDOWED SCHOLARSHIP 3 3000 COMMUNITY PARTNER MATCHING GRANT 2 2000 GRADUATE ASSISTANT GRANT 17 155974 RITA & CHARLES GELMAN UNDERGRADUATE SCHOLARSHIP 1 2000 MARJORY CLEARY MCKENNY & ARTHUR MCKENNY 1 2000 ATHLETIC SCHOLARSHIP 51 286772 ATHLETIC HOUSING SCHOLARSHIP 36 64450 ADMISSIONS HONORS SCHOLARSHIP 19 95100 AMERICORPS MATCHING GRANT 1 123 ADMISSIONS TRANSFER SCHOLARSHIP 22 56955 PHI THETA KAPPA TRANSFER SCHOLARSHIP 1 1000 CLEARY BUSINESS PARTNER SCHOLARSHIP 126 222959 INTERNATIONAL CPT PROGRAM SCHOLARSHIP 20 21948 THE CLEARY COUGAR EXCELLENCE IN LEADERSHIP AWARD 1 1500 DONNA B AND JOSEPH L RICHARDS ENDOWED SCHOLARSHIP 1 500 MARIE & OWEN J CLEARY ENDOWED SCHOLARSHIP 1 500 PART I, LINE 2: THE GRANTS AND SCHOLARSHIPS AWARDED BY CLEARY UNIVERSITY ARE USED TO PAY TUITION AND FEE CHARGES ON STUDENT ACCOUNTS. THE UNIVERSITY IS ABLE TO MONITOR WHETHER RECIPIENTS REMAIN STUDENTS AT THE UNIVERSITY THROUGH THE REGISTRAR'S OFFICE, AND CLASS ATTENDANCE TAKEN BY PROFESSORS. X X 0 0 0 0 0 0 0 0 0 THOMAS SULLIVAN PRESIDENT & CEO 184992 0 0 0 0 0 0 0 20508 0 205500 0 0 0 A CLEARY UNIVERSITY 381393841 594519J84 2006-06-07 5335000 CAPITAL EXPENDITURES 0 0 0 A 845000 5335000 379242 262230 4693528 2007 0 0 1 1 A 0 0 1 0 0 0.02500 0.02500 0 0 0 A 0 0 0 0 1 0 0 0 0 A 0 THOMAS SULLIVAN PRESIDENT & CEO EXECUTIVE BENEFIT PLAN X 110000 140258 0 1 1 140258 X 13 885600 INDEPENDENT APPRAISER 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY THE FINANCE COMMITTEE PRIOR TO BEING FILED AND IS RECOMMENDED BY THEM TO THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS AND EMPLOYEES ARE ASKED ABOUT ANY CONFLICT OF INTEREST BASED ON THE CONFLICT OF INTEREST POLICY. IF A CONFLICT EXISTS, THE ASSOCIATION WITH THE CONFLICTING INTEREST IS DISCONTINUED OR THE BOARD MEMBER OR EMPLOYEE IS NOT SELECTED TO SERVE. FORM 990, PART VI, SECTION B, LINE 15 WE ESTABLISH A BENCHMARK FOR EVERY EMPLOYEE POSITION BASED ON ONE OF THE FOLLOWING: CUPA - HR - COLLEGE & UNIVERSITY PROFESSIONAL ASSOCIATION - HUMAN RESOURCES SALARY SURVEY RESULTS OR GAASHRM - GREATER ANN ARBOR SOCIETY FOR HUMAN RESOURCE MANAGEMENT SALARY SURVEY RESULTS. EVERY EMPLOYEE POSITION IS COMPARED TO A SIMILAR POSITION IN ONE OF THESE SURVEYS (CUPA IS USED IF A POSITION MATCH EXISTS) THE AVERAGE SALARY FOR LIKE INSTITUTIONS OR SIMILAR SIZED NON-PROFITS IS USED AS OUR BENCHMARK WITH A MARGIN OF 15% ON EITHER SIDE OF THE AVERAGE TO ESTABLISH OUR SALARY "RANGE" FOR THE POSITION. ACTUAL SALARY FOR AN EMPLOYEE IS BASED ON EXPERIENCE AND EMPLOYMENT DURATION THAT MOVES ONE'S SALARY UP WITHIN THE SALARY RANGE. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C THERE HAVE BEEN NO CHANGES TO THE AUDIT COMMITTEE'S OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.