2014-05-12T10:26:51-05:00 2013-06-30 Grant Thornton LLP 100 E Wisconsin Ave Milwaukee WI 53202 990 2012-07-01 237447143 Center for Advanced Studies in Business Inc % ADAM BARNES CENT 6084417339 601 University Avenue Suite Madison WI 53715 Adam Barnes 6084417339 2014-05-12 true Michelle L Weber 4142898200 2012 2015-11-30 17:44:51Z Steve King 601 University Avenue Madison WI 53715 7358331 false X http://exed.wisc.edu/ X 1974 WI To stimulate the continual process of professional education, to promote the exchange of ideas, and to advance the Wisconsin school of business and other academic units. 10 9 9 0 227428 0 0 6503605 7325692 45497 32639 0 0 6549102 7358331 0 51300 0 0 847844 916038 0 0 0 5905774 6469649 6753618 7436987 -204516 -78656 17523233 17442034 13455269 13452726 4067964 3989308 X A. TO STIMULATE THE CONTINUAL PROCESS OF PROFESSIONAL EDUCATION IN BUSINESS AND ADMINISTRATION AT THE WISCONSIN SCHOOL OF BUSINESS AND OTHER ACADEMIC UNITS AT THE UNIVERSITY OF WISCONSIN-MADISON (UNIVERSITY) IN THE STUDENT, ALUMNUS AND THE PRACTITIONER PHASES. B. TO PROMOTE THE EXCHANGE OF IDEAS BETWEEN THE STUDENT BODY, ALUMNI AND FACULTY OF THE WISCONSIN SCHOOL OF BUSINESS, OTHER ACADEMIC UNITS AT THE UNIVERSITY AND INTERESTED EXECUTIVES AND ADMINISTRATORS. C. TO ADVANCE THE SCHOOL OF BUSINESS AND OTHER ACADEMIC UNITS AT THE UNIVERSITY BY DISSEMINATING INFORMATION CONCERNING STUDENT, ALUMNI, FACULTY AND ADMINISTRATIVE ACTIVITIES. false false 5331575 0 4768881 The Fluno Center, a full immersion executive education facility that is owned and operated by CASB, provided conference services, lodging and other related services to support its educational events. 886463 0 1903586 Continuing education programs - full immersion educational programs (P.L.R. #98-24048). CASB custom program offerings extend to all functional areas and levels within an organization. CASB also ran a high-level open-enrollment course titled: "Leadership Beyond Management", a dynamic program designed for managers of managers or high-potential managers who want to enhance their leadership effectiveness to achieve organizational and career success. 396301 51300 345001 Wisconsin School of Business outreach, including almumni meetings and events; this activity allows opportunities for the gathering of alumni at various locations to distribute information on programs and activities of the Wisconsin School of Business. 147392 0 308224 Facility Rental 147392 0 308224 6761731 true false false false false false false false false false true false false false false true true false false false false false false false false false false true false true false false false false false false false false false false false false false false false false false true 71 0 9 true true true false false false false false false false false false X 10 9 true true false false false false false true true false false true true true true true true true true false X ADAM BARNES 6084417339 601 UNIVERSITY AVENUE Madison WI 53715 Joseph Boucher 1.0 X X 0 0 Tammy Thayer 40.0 X X 224072 0 32258 Steve King 12.0 X X 32575 0 4490 Howard Carver 1.0 X 0 0 Jennifer DeKrey 1.0 X 0 0 Brenda Furlow 1.0 X 0 0 David Gay 1.0 X 0 0 Jim Johannes 1.0 X 0 0 Karla Johnstone 1.0 X 0 0 Terry Maxwell 1.0 X 0 0 John Nelson 1.0 X 0 0 Francois Ortalo-Mange 1.0 X Blaine Renfert 1.0 X Suzy Shain 1.0 X Alison Sparks-Johnson 1.0 X Adam Barnes 40.0 X 95910 0 28746 Jim Woodrum 28.0 X 70325 0 13564 422882 0 79058 1 false true true ARAMARK 601 UNIVERSITY AVENUE MADISON WI 53715 FACILITY AGENCY 145341 1 0 CONFERENCE SERVICE 611600 4768881 4464521 227428 76932 EDUC. PROGRAM FEES 611600 1903586 1903586 LUNCHEONS, MTGS, EVENTS 611600 345001 345001 OFFICE SPACE RENTALS 611600 308224 308224 7325692 27420 27420 0 0 0 0 0 5219 5219 5219 5219 0 0 0 0 7358331 7021332 227428 109571 51300 51300 0 0 0 498884 359046 139838 0 303016 227262 75754 27201 20401 6800 59757 44818 14939 27180 20385 6795 210603 210603 3868 3868 36010 36010 0 0 0 2670595 2461976 208619 144716 140043 4673 48771 42997 5774 50088 38866 11222 0 40897 40897 83847 76588 7259 0 2708 2708 220423 216015 4408 0 795988 780068 15920 134208 71595 62613 CONTRACT SVCS/FOOD & DRINK 1017128 1017128 UTILITIES 367332 367332 PROGRAM/EVENT SERVICES 235669 235610 59 WBA EVENT 141471 141471 265327 197330 67997 7436987 6761731 675256 0 5950 5950 5136436 4658840 0 0 711738 938031 0 0 0 0 0 0 9076 7675 414196 428594 21543533 10195822 11231609 11347711 0 0 0 0 0 0 0 0 14228 55233 17523233 17442034 738383 1113516 0 0 156563 239210 0 0 0 0 0 0 12560323 12100000 0 0 0 0 13455269 13452726 X 4067964 3989308 0 0 0 0 4067964 3989308 17523233 17442034 -78656 X false true X true false X 80000 40000 2050 0 0 122050 7631300 7197591 7384660 6283967 7021332 35518850 74500 76932 151432 0 0 7711300 7237591 7386710 6358467 7098264 35792332 0 0 0 0 2513464 2765342 4080923 3876990 3385359 16622078 2513464 2765342 4080923 3876990 3385359 16622078 19170254 66059 31340 39459 45497 27420 209775 0 66059 31340 39459 45497 27420 209775 2087 2087 0 7777359 7268931 7426169 6403964 7127771 36004194 0.53244 0.56015 0.00583 0.01018 X 17989635 7995393 9994242 196957 21629 175328 1126925 730366 396559 2230016 1448434 781582 11347711 0 0 X 7233684 7233684 124647 124647 7358331 7312340 7312340 124647 124647 7436987 Revenue included in Return, Not on financial statements Schedule D, Part XI, Line 4b The Center for Advanced Studies in Business utilizes the conference services capabilities of the Fluno Center for some of its own educational programming, alumni and board meetings and events, and for administrative purposes. This activity is reversed for financial statement purposes. Related revenue of $124,647 is included on Form 990 Part VIII. Expenses included in Return, Not on financial statements Schedule D, Part XII, Line 4b The Center for Advanced Studies in Business utilizes the conference services capabilities of the Fluno Center for some of its own educational programming, alumni and board meetings and events, and for administrative purposes. This activity is reversed for financial statement purposes. Related expenses of $124,647 are included on Form 990 Part IX. organization's financial statement footnote concerning fin 48 schedule d, part x The Center was formed as a non-profit organization without the issuance of stock. The Center has received a determination letter from the Internal Revenue Service dated May 21, 1975 stating that it is exempt from federal income tax under Section 501(c)(3) of the IRC. The Center conducts certain unrelated business activities that are subject to unrelated business income tax. The loss generated by the activities of the Center is deemed immaterial to the financial statements. The Center recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority. The Center applied the uncertain tax position guidance to all tax positions for which the statute of limitations remained open and determined there were no material unrecognized tax benefits as of June 30, 2013 and 2012. The Company does not believe there is any uncertainty with respect to its tax positions which would result in a material change to financial statements. The Center recognizes any interest and penalties related to unrecognized tax benefits in general and administrative expenses. There were no interest or penalties related to income taxes that have been accrued or recognized as of and for the years ended June 30, 2013 and 2012. The Center files income tax returns in the United States federal jurisdiction and in the state of Wisconsin. Tax years open to examination by tax authorities under federal and state statute of limitations for the Center include fiscal years 2010 through 2013. true Wisconsin School of Business 975 University Avenue Madison WI 53706 391805963 501(c)(3) 51300 Cash Discretionary funds 1 University of Wisconsin System Contribution Schedule I, Part II, Line 1 The contribution to the University of Wisconsin School of Business is a contribution to a qualified exempt organization. It is the mission of the organization, in part, to advance the Wisconsin School of Business and other academic units. X X X true false false false false false false true false Tammy Thayer 110643 0 36770 0 76659 0 20172 0 12086 0 256330 0 0 Steve King 32575 0 0 0 0 4490 0 37065 0 0 Jim Woodrum 70325 0 0 0 0 13564 0 83889 0 0 Non-Fixed Payments Schedule J, Part I, Line 7 Each executive position has a maximum incentive compensation percentage and specific goals that are set and communicated by the Compensation Committee to the executives annually. The Compensation Committee reviews executive performance against the goals set for the year and makes an incentive compensation recommendation within the pre-established range to the full Board for review and approval. The organization views incentive compensation as part of the executives' overall compensation package and feels that overall compensation is reasonable and comparable with other organizations. Severance Payment Schedule J, Part I, Line 4a Tammy Thayer, who served as President of the organization, received a severance payment after her separation pursuant to a written agreement that was approved by the Board of Directors. The cash payments made to Ms. Thayer during the year ended June 30, 2013 totaled $69,822. Compensation from unrelated organization Form 990, Part VII and Schedule J, Part II Steve King and Jim Woodrum are employees of the University of Wisconsin School of Business (School) who provided leadership to CASB during the 2013 fiscal year. CASB reimbursed the School for the portion of the compensation and benefits incurred while they were providing services to CASB. The Calendar 2012 amounts paid were: Steve King $31,065 Jim Woodrum $63,889 Family or Business relationship Form 990, Part VI, Section A, Line 2 Francois Ortalo-Magne, the dean of the Wisconsin School of Business, is on the board. Several board members have an employment relationship with the Wisconsin School of Business. Delegation of Control Over Management Duties Form 990, Part VI, Section A, Line 3 Center for Advanced Studies in Business, Inc. (CASB) has retained the services of a third party management company which manages day-to-day operations of the Fluno Center under the supervision of CASB. Process the Organization Uses to Review Form 990 Form 990, Part VI, Section B, Line 11A CENTER FOR ADVANCED STUDIES IN BUSINESS, INC.'S (CASB) FORM 990 IS PREPARED BY AN INDEPENDENT CERTIFIED PUBLIC ACCOUNTING FIRM FROM INFORMATION PREPARED AND SUBMITTED BY CASB STAFF. A DRAFT OF THE FORM 990 WAS PROVIDED ELECTRONICALLY TO BOARD MEMBERS FOR REVIEW. THE AUDIT COMMITTEE PERFORMED A DETAILED REVIEW OF THE FORM 990. THE FORM 990 WAS FINALIZED TO INCORPORATE ANY NECESSARY CHANGES. AN UPDATED VERSION WAS PROVIDED ELECTRONICALLY TO ALL BOARD MEMBERS FOR ADDITIONAL MATTERS BROUGHT FORWARD BY THE BOARD. THE FINALIZED VERSION OF FORM 990 IS FILED WITH THE IRS ON OR BEFORE THE MAY 15TH FILING DEADLINE. Organization's Practices For Monitoring Conflicts Of Interest Form 990, Part VI, Section B, Line 12c The organization's conflict of interest policy covers all officers, directors, and key employees of the organization. Annually, individuals covered under the policy self identify potential and/or actual conflicts. Management reviews responses to ensure all conflicts management is aware of have been identified. Annually, the board reviews completed responses and determines if all potential and/or actual conflicts are acceptable. These discussions are documented in the minutes to the meeting in which they occur. As of June 30, 2013, no conflicts were noted which limit any officer, director, or key employee from participating in the governing body's deliberations and decisions. Should any potential or actual conflict arise between annual surveys, it is the responsibility of the conflicted individual, and management if they are aware of the conflict, to bring the new conflict to the attention of the board to review. Process Of Determining Compensation Of Top Management And Other Officers Form 990, Part VI, Section B, Line 15 The compensation committee, chaired by an independent director, reviews the compensation of top management and other officers. This review includes looking at comparability data. The committee contemporaneously documents its discussions and final recommendation. Compensation decisions are approved by the full board and are also contemporaneously documented. Documents Available to Public Form 990, Part VI, Section C, Line 19 The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. OTHER FEES FOR SERVICES FOR NON-EMPLOYEES FORM 990 PART IX LINE 11G DESCRIPTION:FLUNO EXPENSES: STAFFING TOTAL FEES:1992066 OTHER FEES FOR SERVICES FOR NON-EMPLOYEES FORM 990 PART IX LINE 11G DESCRIPTION:INSTRUCTOR TEACHING FEES TOTAL FEES:355391 OTHER FEES FOR SERVICES FOR NON-EMPLOYEES FORM 990 PART IX LINE 11G DESCRIPTION:PROFESSIONAL CONSULTANTS TOTAL FEES:208619 OTHER FEES FOR SERVICES FOR NON-EMPLOYEES FORM 990 PART IX LINE 11G DESCRIPTION:MISCELLANEOUS TOTAL FEES:114519