2015-02-16T10:10:52-05:00 2014-06-30 GRANT THORNTON LLP 175 W JACKSON BLVD STE 2000 CHICAGO IL 60604 990 2013-07-01 362169157 North Central College % PAUL H LOSCHEIDER NORT 6306375680 30 N Brainard Street Suite Naperville IL 60540 PAUL H LOSCHEIDER VP OF BUS AFFAIRS 6306375680 2015-02-11 true Bridget T Roche P00666837 6306375680 2013 2016-02-25 16:41:14Z Troy Hammond 30 N Brainard Street Naperville IL 60540 130968781 false X www.northcentralcollege.edu X 1861 IL North Central College is a community of learners dedicated to preparing students to be informed, involved, principled and productive citizens and leaders over their lifetime. 33 26 2007 32 283231 -35040 5441179 7845662 96701666 102346512 5368948 4760287 1672295 1741268 109184088 116693729 34969087 38220942 0 0 36126744 37173745 47974 47962 1976598 30762565 30406521 101906370 105849170 7277718 10844559 258589347 279981381 56381067 56080584 202208280 223900797 NORTH CENTRAL COLLEGE IS A COMMUNITY OF LEARNERS DEDICATED TO PREPARING STUDENTS TO BE INFORMED, INVOLVED, PRINCIPLED AND PRODUCTIVE CITIZENS AND LEADERS OVER THEIR LIFETIME. IN 2013-2014, THE COLLEGE SERVED OVER 3,048 FULL AND PART-TIME STUDENTS. 27 STATES AND U.S. TERRITORIES AND 32 FOREIGN COUNTRIES ARE REPRESENTED IN OUR STUDENT POPULATION. ABOUT 1,450 STUDENTS RESIDE ON THE COLLEGE CAMPUS EACH TERM. NORTH CENTRAL COLLEGE CONFERRED 706 UNDERGRADUATE DEGREES AND 113 MASTER'S DEGREES IN THE 2013-2014 ACADEMIC YEAR. THE COLLEGE ALSO SERVED APPROXIMATELY 6,200 PEOPLE IN NON-CREDIT EDUCATIONAL AND COMMUNITY PROGRAMS. false false 71499495 37599666 87829015 Instruction, Academic Support & Financial Aid: Faculty instruction for degree candidates, community education, and master's degree programs are provided. 93% of the full-time teaching faculty members have a doctorate or terminal degree. Dean of faculty, continuing education, library services, disabilities support services, tutoring assistance, and academic computing are included in academic support. Oesterle library holds 277,116 items in the collections, and has subscription access to more than 80 databases of periodical and statistical information. Students have on-line access to their grades, schedule, and communicate with faculty and classmates via blackboard. Faculty serve as student advisors. 13265763 14306381 Auxiliary Services: Auxiliary Services include residence life, student housing, and food services. Facilities include Kaufman (a full service dining hall), The Cage (a quick service cook-to-order facility), and The Boilerhouse Cafe. The bookstore, college union, and student gathering spaces are also included in auxiliary service. More than 1,450 of the full-time students choose to live in college owned or leased properties. 95% of resident students are required to purchase a meal plan. 12054002 Student Services and Athletics: Offices servicing the student body include admissions, international recruiting, financial aid administration expense, registrar, dean of students, ministry and service, community services, career development, the wellness center, student involvement, orientation, multicultural affairs, and athletic activities. Community service projects such as Habitat for Humanity are common pursuits during the December d-term and spring break. NCC maintains 22 NCAA Division III programs (11 male and 11 female varsity sports) and has won 30 team national championships. 96819260 true true false true false false false true false true true false false false true true true false true false true true false true false false false false true true true false false false false false false true false true true true false false false false false false false false true X 4261 0 true 2007 true true true false false false false true true false false false false X 33 26 true false false false false false false true true false false true true true true true true true true false X X PAUL H LOSCHEIDER 6306375678 30 N BRAINARD STREET Naperville IL 60540 Ms Esther T Benjamin Trustee 1.0 X 0 0 0 Ms Erin L Bishop Trustee 1.0 X 0 0 0 Mr Matthew S Brill Trustee 1.0 X 0 0 0 Mr James J Boyne Trustee 1.0 X 0 0 0 Bishop Sally Dyck Trustee 1.0 X 0 0 0 Mr Kevin M Gensler Trustee 1.0 X 0 0 0 Mr Thomas Gruenwald Trustee 1.0 X 0 0 0 Mrs Nancy Hanson Trustee 1.0 X 0 0 0 Mr Steven H Hoeft Chairman of the Board 1.0 X 0 0 0 Ms Holly Humphrey Trustee, Vice Chair Acdmc Aff. 1.0 X 0 0 0 Mr Peter P Jones Trustee 1.0 X 0 0 0 Bishop Hee-Soo Jung Trustee 1.0 X 0 0 0 Mr David W Kelsch Vice Chair, Business Affairs 1.0 X 0 0 0 Mrs Michele Kenaga Trustee 1.0 X 0 0 0 Mr Ray Kinney Trustee 1.0 X 0 0 0 Mrs Susan Koranda Trustee 1.0 X 0 0 0 Mr Ronald Leuptow Trustee 1.0 X 0 0 0 Mr Joseph Mallon Trustee, Chair Audit Committee 1.0 X 0 0 0 Mr James A McDermet Trustee 1.0 X 0 0 0 Ms Holly I Myers Trustee, Board Secretary 1.0 X 0 0 0 Mr Michael R Naset Trustee 1.0 X 0 0 0 Ms Lori Novak Trustee 1.0 X 0 0 0 Mr Jeff Oesterle Trustee, Vice Chair, Inst Adv. 1.0 X 0 0 0 Mr Steven Rubin Trustee 1.0 X 0 0 0 Mr Stephen T Sellers Trustee 1.0 X 0 0 0 Mr Donald Sharp Trustee 1.0 X 0 0 0 Dr Jeffrey K Swallow Trustee 1.0 X 0 0 0 Mr Scott Wehrli Trustee 1.0 X 0 0 0 Dr Herman B White Jr Trustee, Vice Chair, Stdt Aff. 1.0 X 5000 0 0 Mr Robert A Wislow Trustee 1.0 X 0 0 0 Mr Lee Woolley Trustee 1.0 X 0 0 0 Miss Maria E Wynne Trustee 1.0 X 0 0 0 Dr Troy Hammond President effective 1/1/13 60.0 X X 348190 0 67693 Dr Harold R Wilde President Emeritus 60.0 X X 1028700 0 38060 Ms Laurie Hamen VP for Enrollment Management 60.0 X 220112 0 21054 Mr Paul Loscheider VP for Business Affairs 60.0 X 208537 0 39543 Dr R Devadoss Pandian VP for Academic Affairs 60.0 X 222069 0 33331 Mr Rick E Spencer VP Institutional Advancement 60.0 X 210881 0 39625 Mr Martin Sauer Dean of Admissions/Fin Aid 60.0 X 151086 0 51192 Ms Kimberly Sluis Dean of Students 60.0 X 101259 0 9944 Dr Peter Barger Dean of Graduate & Cont Educ 50.0 X 127374 0 72215 Dr Marti Bogart Prof of Econ/Associate Dean 50.0 X 132506 0 51466 Dr Francine Navakas Prof of English/Associate Dean 50.0 X 144165 0 30554 Bruce Nortell Director of Planned Giving 50.0 X 130035 0 22400 Dr Richard Wilders Prof of Math/Associate Dean 50.0 X 149319 0 27437 3179233 0 504514 29 false true false The Millard Group Total 94346 Eagle Way CHICAGO IL 60678 Cleaning Services 837910 Holabird Root LLC 140 S Dearborn St CHICAGO IL 60603 Architecture 808395 Royall Company 1920 E Parnham Rd RICHMOND VA 23228 Admission Marketing 505767 Ellucian Inc 4375 Fair Lakes Ct FAIRFAX VA 22033 Software Management 261711 Minuteman Press 1577 Naperville/Wheaton Rd NAPERVILLE IL 60563 Printing 237909 23 1558847 6286815 733827 7845662 TUITION (INCLUDING FINANCIAL AID) 812900 86426247 86426247 COMMUNITY EDUCATION 812900 793805 582689 211116 STUDENT HOUSING/AUXILARY ENTERPRISES 812900 14306381 14306381 STUDENT FEES 900099 490908 490908 OTHER ATHLETIC, ACADEMIC, AND ADMIN 900099 329171 329171 102346512 2202031 2202031 0 0 509815 112786 397029 0 397029 72115 324914 16720522 14113840 48426 2606682 -48426 2558256 2558256 0 0 0 THEATRE GATE RECEIPTS 711130 1050260 1050260 PARKING FEES/FINES 812930 196369 196369 ATHLETIC GATE RECEIPTS 812900 77935 77935 19675 19675 1344239 116693729 102135396 283231 6429440 0 37599666 37599666 621276 621276 0 1396598 925551 228210 242837 242042 94634 97523 49885 27446463 24526580 2111220 808663 2260890 1964269 197929 98692 3915570 2442603 1348427 124540 1912182 1757323 143110 11749 0 118322 42175 76147 70455 14891 55564 13667 13667 47962 47962 613637 122727 490910 2553823 2189171 314596 50056 1460975 1010960 305050 144965 1851985 1552552 208584 90849 725954 715220 4700 6034 32165 32165 8319285 7736545 582740 1173731 955889 145648 72194 0 291456 250116 35847 5493 842525 807207 35318 0 5675991 5438054 237937 156987 153792 3195 FOOD SERVICE 3274200 3274200 EQUIPMENT RENTAL 1164308 999785 112130 52393 HOSPITALITY 1134408 904365 133578 96465 DUES AND SUBSCRIPTIONS 696880 578148 58578 60154 235767 109396 126371 105849170 96819260 7053312 1976598 0 0 8872935 22777628 3280043 2778206 3934946 4093840 0 0 0 0 4290868 4661457 0 0 2634578 1582457 185308263 58158724 129526148 127149539 97960676 110992215 7714563 5522958 0 0 0 0 374590 423081 258589347 279981381 6774039 6836339 0 0 954773 977007 41500000 41500000 0 0 0 0 0 0 0 0 7152255 6767238 56381067 56080584 X 137594469 152691581 22929455 28957913 41684356 42251303 202208280 223900797 258589347 279981381 X 10844559 10086412 761546 X X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 13667 13667 false Part II-B, Line 1i Part II-B, Line 1i DESCRIPTION OF LOBBYING ACTIVITIES $10,000 paid to Dixon and Company, Inc. for May and June professional lobbying fees. $3,295 paid to iWave for online research subscription. $372 paid to Illinois for lobbyist registration fees. The lobbyist we are using is sending letters and meeting with Illinois state government officials in connection with efforts to secure grants that would be used for funding a science center. X X X false 96838694 802185 15496936 1086930 2275738 295423 109479724 91274932 1267004 7676111 989273 2120591 269489 96838694 94092598 2296389 -2014713 868206 1987623 243513 91274932 78969002 808468 17217140 794674 1877213 230125 94092598 68798252 2897284 10133552 2860086 78969002 0.48000 0.38000 0.14000 true false 330000 7598268 7928268 530000 154465979 43250632 111745347 21291792 14908092 6383700 1092224 1092224 127149539 0 SPLIT INTEREST AGREEMENTS 2083189 REFUNDABLE LOAN 1262969 INTEREST RATE SWAP 3421080 6767238 89293261 10086412 112786 10199198 79094063 37599666 37599666 116693729 68362290 112786 112786 68249504 37599666 37599666 105849170 Schedule D, Part III, Line 4 DESCRIPTION OF ORGANIZATION'S COLLECTIONS The North Central College archives consists of manuscripts, publications, photographs, audio-visual materials, artifacts, and other unique historical materials documenting the history of the college. The archives holds similar types of materials for two additional collections, the suburban studies archives (which seeks to document the transition of Chicago's west suburban region following World War II) and the papers of retired US Congressman Harris W Fawell. The North Central College archives' mission is to collect, organize, describe, preserve and make available for research materials on the history of the college and the local area as related to the college. The archives supports the college community's need for historical information and provides reference assistance to archival researchers on and off campus. North Central College's Oesterle Library Special Collections (independent of the archives) includes a collection of presidential and other famous persons signatures, a first editions collection of books, a unique collection of books on Chicago area history, and a set of books and sheet music for jazz. North Central College's art collection is on display throughout campus and includes a variety of media and artists, from Bronzes by Gustav Borglum and Christian Peterson to tapestry by aluma Helen Gamersfelder Naumann. Schedule D, Part V, Line 4 INTENDED USES OF ENDOWMENT FUNDS The intended use of the organization's endowment funds include expending funds toward professional faculty chairs, scholarships, facilities maintenance, library enhancement, and departmental enhancement. Schedule D, Part XI, Line 2d Supplemental Description - Other Rental Expenses $112,786 Schedule D, Part XI, Line 4b Supplemental Description - Other Financial Aid $37,599,666 Schedule D, Part XII, Line 2d Supplemental Description - Other Rental Expenses $112,786 Schedule D, Part XII, Line 4b Supplemental Description - Other Financial Aid $37,599,666 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 The College's policy is one of non-discrimination with respect to the public served by the institution and with respect to the college personnel. Advertisements, brochures, publications, application for admissions, etc., contain a statement to the effect that the college does not discriminate on the basis of race, color, religion, gender, age, national origin, ancestry, marital status, sexual orientation, handicap, disability, veteran status or unfavorable discharge from military service. A classified advertisement is run once per term with the college's anti-discrimination policy. Schedule E, Part I, Line 6a Government Assistance North Central College applies for and receives educational grants, as approved on a case by case basis, from Federal and State agencies. The College also participates annually in Federal & State financial aid programs, specifically Pell, SEOG, Federal Work Study, Perkins, Federal Direct Loans, and various other state of Illinois grant programs for qualified students. The federal grants and loans are reported in the College's A-133 Single Audit. true Central America and the Caribbean Grantmaking Study Abroad 89745 East Asia and the Pacific Grantmaking Study Abroad 3686 Europe (Including Iceland and Greenland) Grantmaking Study Abroad 527845 Europe (Including Iceland and Greenland) 2 Program Services Recruitment 7300 2 2 628576 628576 Central America and the Caribbean Study Abroad 89745 WT Europe (Including Iceland and Greenland) Study Abroad 527845 WT 20 false false false false false false Sch. F Part I Line 1 During the tax year, the College offered students study abroad opportunities in various foreign countries. When studying abroad, students are still eligible for all financial aid as if they were attending classes at the College. The college wires the funds on the students' behalf to these foreign institutions. The College also worked with two foreign agencies during the tax year. These agencies have helped the College recruit students from foreign countries. X X X X X X X true Wilson-Bennett Tech Inc 206 W Plaza Blvd Suite C Cabot AR 72023 Phonathon false 119623 47962 71661 119623 47962 71661 IL true Academic Scholarships & Grants 2769 37599666 Schedule I, Part I, Line 2 Procedure for Monitoring Use of Grant Funds Inside U.S. The College provides scholarships to students matriculating at the College; all funds issued to students are required to defray the cost of tuition and no student may use the funds for other than educational purposes. Since the students have no discretion in the use of the funds, the College does not need to monitor the grants once issued. X X X true true X X X X X false true false false false false false false false Dr Troy Hammond President effective 1/1/13 242859 0 58290 0 47041 0 0 0 67693 0 415883 0 0 0 Dr Harold R Wilde President Emeritus 338456 0 0 0 690244 0 26775 0 11285 0 1066760 0 555000 0 Ms Laurie Hamen VP for Enrollment Management 194458 0 25000 0 654 0 20122 0 932 0 241166 0 0 0 Mr Paul Loscheider VP for Business Affairs 164809 0 25000 0 18728 0 20181 0 19362 0 248080 0 0 0 Dr R Devadoss Pandian VP for Academic Affairs 176508 0 25000 0 20561 0 20889 0 12442 0 255400 0 0 0 Mr Rick E Spencer VP Institutional Advancement 184004 0 25000 0 1877 0 20122 0 19503 0 250506 0 0 0 Dr Peter Barger Dean of Graduate & Cont Educ 124667 0 2000 0 707 0 13090 0 59125 0 199589 0 0 0 Dr Marti Bogart Prof of Econ/Associate Dean 127747 0 4000 0 759 0 13800 0 37666 0 183972 0 0 0 Dr Francine Navakas Prof of English/Associate Dean 139973 0 2500 0 1692 0 15493 0 15061 0 174719 0 0 0 Bruce Nortell Director of Planned Giving 127439 0 1250 0 1346 0 13332 0 9068 0 152435 0 0 0 Mr Martin Sauer Dean of Admissions/Fin Aid 146597 0 4000 0 489 0 14424 0 36768 0 202278 0 0 0 Dr Richard Wilders Prof of Math/Associate Dean 147592 0 0 0 1727 0 15759 0 11678 0 176756 0 0 0 Schedule J, Part I, Line 1a Housing allowance or residence for personal use VALUE OF HOUSING PROVIDED TO THE PRESIDENT OF THE COLLEGE (NON-TAXABLE): IRS INSTRUCTIONS TO FORM 990 REQUIRE THAT THE FAIR MARKET VALUE OF HOUSING PROVIDED TO EMPLOYEES BY THEIR EMPLOYER BE REPORTED ON FORM 990, PART VII, SECTION A AND SCHEDULE J, PART II. AS A CONDITION OF EMPLOYMENT, THE PRESIDENT OF NORTH CENTRAL COLLEGE IS REQUIRED TO RESIDE ON THE CAMPUS PREMISES. THE RESIDENCE SERVES BOTH AS A PERSONAL RESIDENCE AS WELL AS A VENUE FOR REGULAR CARRYING ON OF COLLEGE BUSINESS. THE COLLEGE HAS DETERMINED THAT THE VALUE OF THE USE OF THIS PERSONAL RESIDENCE IS NOT CONSIDERED TAXABLE INCOME TO THE PRESIDENT AS PROVIDED FOR IN INTERNAL REVENUE CODE SECTION 119. FOR TAX YEAR 2013, THE VALUE OF THE PRESIDENT'S USE OF THE RESIDENCE CONSERVATIVELY ESTIMATED TO BE $34,200. THIS ESTIMATED VALUE IS BASED ON THE FAIR RENTAL VALUE OF $4,275 PER MONTH FOR SIMILAR HOUSES IN THE AREA. DURING CALENDAR YEAR 2013, THE CURRENT PRESIDENT, DR. TROY D. HAMMOND AND HIS FAMILY, MADE THE RESIDENCE THEIR HOME FOR 8 MONTHS OF THE YEAR. SCHEDULE J, PART II, COLUMN (D) INCLUDES $34,200 OF NON-TAXABLE INCOME ASSOCIATED WITH THE USE OF THE RESIDENCE PROVIDED BY THE COLLEGE. Schedule J, Part I, Line 1a Health or social club dues or initiation fees Troy Hammond, College President, incurs an expense for country club dues in the amount of $6,490 and social club dues in the amount of $1,200. Such payments are generally provided based on the provisions of a services agreement. The payments for such items are nontaxable to the president, as they are used for College business. Schedule J, Part I, Line 1a Cleaning services An outside service is used as needed to provide other cleaning services necessary for the business function of the president's house. The payment for such items are nontaxable to the president, as the cleaning is in the public spaces of the house. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan The supplemental nonqualified 457(f) Retirement plan was discontinued. The Vice Presidents were given their final payouts in 2012. President Emeritus, Dr. Harold R. Wilde, was given his final net, after-tax, payout of $446,063 in December 2013. Effective November 1, 2013, the College established a new 457(b) deferred compensation plan with the President and Vice Presidents. The College is contractually obligated to maintain these balances in seperate accounts, as elected by the participants. These accounts are included in the College's investment securities and are available to the general creditors. The plan is funded by the participants. The College does not fund the plan at this time. The following individuals have each contributed $17,500 to the plan and the market value for each account at 6/30/14 was: i. Dr. Troy Hammond, President $18,645 ii. Mr. Paul Loscheider, VP for Business Affairs $18,888 iii. Mr. R.D. Pandian, VP for Academic Affairs $18,288 A ILLINOIS FINANCE AUTHORITY 861091967 45200FNS4 2008-10-16 17000000 See Part VI false false false B Illinois Finance Authority 861091967 452001Q86 2005-05-31 21200000 See Part VI false false true C Illinois Finance Authority 861091967 452001ZF0 2005-05-31 36500000 See Part VI false false true A 0 0 17232326 0 105630 0 289481 420342 0 16351973 64900 0 2009 false false true true B 3400000 0 21200000 0 0 21200000 0 0 0 0 0 0 2000 true false true true C 7000000 0 36500000 0 0 36500000 0 0 0 0 0 0 1999 true false true true A false false true true false 0 false false false false B false false true true false 0 false false false false C false false true true false 0 false false false false A false false false true true Bank of America NA 29.9 false false false 0 false false B false true false true false 0 false 0 false false C false true false true true Bank of America NA 20. false false false 0 false false A false B false C false Schedule K, Part I, Column F, Line B Description of Purpose The 1999 Bonds (defined below) were issued to provide funds to several Section 501(c)(3) nonprofit organizations. The bonds were issued in the amount of $21,200,000. North Central College benefitted from $10,000,000 of the proceeds of the bonds. The issuer of the bonds changed the mandatory tender provisions of the indenture governing previously issued bonds (the "1999 Bonds") thereby resulting in the Variable Rate Demand Revenue Bonds, Series 1999 (ACI/Cultural Pooled Financing Program) originally issued by the Illinois Educational Facilities Authority on July 28, 1999 to be assumed to be reissued and currently refunded for Federal income tax purposes on May 31, 2005. The portion of the proceeds of the 1999 Bonds which were borrowed by North Central College were used to finance or reimburse the costs of the acquisition, construction, renovation, improvement and equipping of educational facilities. Schedule K, Part I, Column F, Line C Description of Purpose The 1998 Bonds (defined below) were issued to provide funds to several Section 501(c)(3) nonprofit organizations. North Central College benefitted from $15,000,000 of the proceeds of the Bonds. The bonds were issued in the amount of $36,500,000. The issuer of the bonds changed the mandatory tender provisions of the indenture governing previously issued bonds (the "1998 Bonds") thereby resulting in the Variable Rate Demand Revenue Bonds, Series 1998 (ACI/Cultural Pooled Financing Program) originally issued by the Illinois Educational Facilities Authority on March 25, 1998 to be assumed to be reissued and currently refunded for Federal income tax purposes on May 31, 2005. The portion of the proceeds of the 1998 Bonds which were borrowed by North Central College were used to finance or reimburse the costs of the acquisition, construction, renovation, improvement and equipping of educational facilities. In April of 2006, North Central College paid $500,000 of principal; therefore $14,500,000 is still outstanding. Schedule K, Part II, Column A, Line 3 Total Proceeds of issue The issue price of the bond is $17,000,000. Investment earnings through the end of the project period were $232,326. Schedule K, Part II, Column B, Line 3 Total Proceeds of issue The issue price of the bond is $21,200,000. North Central College benefitted from $10,000,000 of the proceeds of the bond. The $10,000,000 amount is inadvertently listed as $9,000,000 on the Form 8038 for the 1999 bond. Schedule K, Part II, Column C, Line 3 Total Proceeds of issue The issue price of the bond is $36,500,000. North Central College benefitted from $15,000,000 of the proceeds of the bond. In April of 2006, North Central College paid $500,000 of principal; therefore $14,500,000 is still outstanding. Schedule K, Part II, Column C, Line 11 Other Spent Proceeds Other spent proceeds includes Letter of Credit fees of $25,500 (paid 10/31/08 from the Project Fund), Letter of Credit fees of $19,650 (paid 7/21/09 from the Capital Interest fund), and $19,750 of Remarketing Fees (paid 11/3/09 from the Capital Interest fund). Schedule K, Part III, Line 9 Written Procedures for NonQualified Bonds The organization did not have established written procedures to ensure that all nonqualified bonds are remediated in accordance with the requirements under sections 1.141-12 and 1.145-2 at year end. However, the organization adopted such procedures subsequent to year-end. Schedule K, Part IV, Column A, Line 2c Rebate Computation Date The rebate computation date of the bond was November 21, 2013. Schedule K, Part IV, Column B, Line 2c Rebate Computation Date The rebate computation date of the bond was September 3, 2004. Schedule K, Part IV, Column C, Line 2c Rebate Computation Date The rebate computation date of the bond was May 20, 2003. Schedule K, Part V Procedures to Undertake Corrective Action North Central College has not violated any applicable requirements for tax exempt bonds benefiting the College. The College worked with Bond Counsel to establish written procedures to ensure timely identification of Federal tax requirements and timely correction of any identified violations. These procedures are currently awaiting board approval. NA N/A 42906 Merit Based Scholarship Kevin Gensler Board Member 13190 Law services true David Kelsch Board Member 214491 Technology true Ray Kinney Board Member 240677 Printing Services true Robert Wislow Board Member 207519 Professional Services true Schedule L, Part III Grants or Assistance Benefiting Interested Persons Although there may be recipients who are related to persons having an interest in the institution, such recipients are selected on an equal, objectively determinable basis with other recipients. All students receiving scholarships and fellowships are judged worthy by the institution's assessment on the basis of academic achievement, financial need and other similar standards. Any scholarship committee member who has a relationship with any potential recipient of scholarship money is not included in the selection process for that particular candidate. Schedule L, Part IV Business Transactions with Interested Persons Kevin Gensler is a trustee of the board of North Central College, he is also a partner of the law firm Dommermuth, Cobine, West, Gensler, Philipchuck, Corrigan, & Bernhard, Ltd. During the 2014 fiscal year, NCC paid $13,190 for professional services. The business transaction between North Central College and Dommermuth, Cobine, West, Gensler, Philipchuck, Corrigan & Bernhard, Ltd. was conducted at arm's length and a fair market value price was provided to the college for services provided. David Kelsch is a trustee of the board of North Central College, he is also the President and CEO of Advanced Data Technologies Inc. North Central College paid Advanced Data Tech $214,491 for professional services during fiscal year 2014. The business transaction between North Central College and Advanced Data Technologies Inc was conducted at arm's length, and a fair market value price was provided to the college for the services provided. Ray Kinney is a trustee of the board of North Central College, he is also a Principal of Minuteman Press and substantial shareholder of the company. Additionally, Ray Kinney is an officer of Maclyn Group and Blooming Color. North Central College paid Minuteman Press $237,909, Maclyn Group $0 and Blooming Color $2,767 in fiscal year 2014 for their services, (IN AGGREGATE A TRANSACTION OF $240,676). The business transaction between North Central College, Minuteman Press, Maclyn Group and Blooming Color was conducted at arm's length, and a fair market value price was provided to the college for the services provided. Robert Wislow is a trustee of the board of North Central College. He is also the Chairman/CEO of U.S. Equities Reality. During the 2014 fiscal year, NCC paid $207,519 for professional services. The business transaction between North Central College and U.S. Equities Reality was conducted at arm's length and a fair market value price was provided to the college for services provided. The College employs Brad Spencer who is an interested person due to his family relationship with an officer of the College. His employment and resulting salary are not influenced by his relationship and are at fair value for the services provided. The College employs Margaret White who is an interested person due to her family relationship with a trustee of the college. Her employment and resulting salary are not influenced by her relationship and are at fair value for the services provided. The College employs Andrew Sauer who is an interested person due to his family relationship with an officer of the college. His employment and resulting salary are not influenced by his relationship and are at fair value for the services provided. The College employs Brandon Hoeft who is an interested person due to his family relationship with a trustee of the college. His employment and resulting salary are not influenced by his relationship and are at fair value for the services provided. X 51 733827 Market Value 0 false true false Schedule M, Part 1, Column (b) Number of Contributions Received The number of contributions reported is the total number of stock contributions received during the year. Form 990, Part VI, Line 1A and 1B Material Differences in Members' Voting Rights There were 36 voting members at the beginning of fiscal year 2014 and 33 voting members at the end of fiscal year 2014. John Giannini is now an honorary board member. Steve Bergerson and Beth Zimmerman are Life Trustees. The President and 6 other members of the Board have a conflict based on the criteria provided. Executive Committee Membership: There shall be an Executive Committee of up to thirteen members, composed of the Chair, the four Vice-Chairs, the Secretary, the audit committee chair, the President of the College and up to five at-large members. A quorum shall consist of seven members. Duties: The Executive Committee shall transact such business as may be referred to it by the Board of Trustees, and any other business which the interests of the College may require during the intervals between meetings of the Board. It shall hold such meetings as it may deem desirable, and shall keep an accurate record of its proceedings and receive approval of these minutes at the next regularly scheduled meeting of the Board. The Secretary of the Board shall mail the record of the proceedings of each meeting within forty-five days to all members of the Board and to such other persons as the Committee may designate. The Committee shall annually set by June 30 the salary and benefits to be provided the President of the College for the following fiscal year. Form 990, Part VI, Line 2 Family Relationships TRUSTEE JEFF OESTERLE HAS A BUSINESS RELATIONSHIP WITH TRUSTEE SCOTT WEHRLI. TRUSTEES KEVIN GENSLER, RAY KINNEY, AND SCOTT WEHRLI HAVE A BUSINESS RELATIONSHIP WITH EACH OTHER. Form 990, Part VI, Line 11b Form 990 Review Process A review was conducted prior to filing the 990 with the IRS. The Assistant VP of Finance/Comptroller and Assistant Controller gather all information from various areas of the college and submit to tax professionals for the first draft of the 990. The Assistant VP of Finance/Comptroller and Assistant Controller review and make necessary changes. The second draft was reviewed by the VP for Business Affairs and the College President. Again, updates and changes were made if necessary. A final draft was sent via email to all voting board members for their review. If any changes were required after board review, they were sent to the tax professionals for incorporation into the Form 990. Form 990, Part VI, Line 12c Conflict of Interest Policy Monitoring & Enforcement The conflict of interest statements are sent to each board member with the May board packet, which includes reading materials for the upcoming meeting. All board members are expected to return the conflict of interest statements at the May board meeting, if not sooner. A process has been established to follow up with any members who have not returned the conflict of interest statement within the given parameters. The college monitors conflicts of interest by sending out a questionnaire annually, as well as at every meeting the question is raised. If a conflict arises, that individual is prohibited from participating in the governing body's deliberations and decisions in the transaction under discussion. Form 990, Part VI, Line 15a Process for Determining Compensation The Compensation Committee (a sub-committee of the Board) is responsible for determining the President's salary and reviewing the Vice Presidents' salaries. The Compensation Committee works with Human Resources (and possibly outside consultants) to obtain comparable salary/benefit data from organizations such as College and University Personnel Association (CUPA), in order to establish appropriate salary/benefit packages. The Compensation Committee consists of the Chair of the Board and two active trustees, who are not related to the President or Vice Presidents and do not perform management-directed services to the College. The College has an annual review of their compensation process. Annually, the Executive Committee reviews the Compensation Committee's recommendations and approves the President's compensation. The Vice Presidents' compensation is brought before the Board of Trustees in an executive session at the fall meeting. Contemporaneous documentation is maintained for all compensation decisions. Form 990, Part VI, Line 19 How Documents are Made Available to the Public The conflict of interest policy, financial statements and public disclosure copies of the 990 and 990T are available to the public at North Central College's website, www.noctrl.edu. FORM 990, PART XI, LINE 9 SUPPLEMENTAL DESCRIPTION - OTHER Other Changes in Net Assets or Fund Balances Change in fair value of interest rate swap agreement -$2,295 Change in value of split-interest agreements $763,841 Total increase in net assets or fund balances $761,546