2014-12-12T10:00:12-06:00 2014-06-30 CROWE HORWATH LLP 225 WEST WACKER DRIVE SUITE 2600 CHICAGO IL 606061224 990 2013-07-01 237013253 LAKE FOREST GRADUATE SCHOOL OF MANAGEMENT LAKE 8472345005 1905 W Field Court Lake Forest IL 60045 JEFFREY J ANDERSON PRESIDENT AND CEO 2014-12-04 true John Woodhull P01305268 3128997000 2013 2015-11-30 17:44:51Z JEFFREY J ANDERSON 1905 W Field Court Lake Forest IL 60045 12066865 false X WWW.LAKEFORESTMBA.EDU X 1946 IL LAKE FOREST GRADUATE SCHOOL OF MANAGEMENT (LFGSM) IS A PRIVATE, NONPROFIT INSTITUTION OF HIGHER EDUCATION DEDICATED TO IMPROVING THE ABILITY OF WORKING PROFESSIONALS AND ORGANIZATIONS TO MAKE SIGNIFICANT BUSINESS CONTRIBUTIONS THAT LEAD TO OUTSTANDING AND MEASURABLE RESULTS. 21 20 188 250 0 0 243381 548743 11276420 11232836 184985 162370 72477 81361 11777263 12025310 905022 350051 0 0 6641439 7400924 0 0 271505 4716987 4566614 12263448 12317589 -486185 -292279 18815773 20170979 1571221 2494353 17244552 17676626 LAKE FOREST GRADUATE SCHOOL OF MANAGEMENT (LFGSM) IS A PRIVATE, NONPROFIT INSTITUTION OF HIGHER EDUCATION DEDICATED TO IMPROVING THE ABILITY OF WORKING PROFESSIONALS AND ORGANIZATIONS TO MAKE SIGNIFICANT BUSINESS CONTRIBUTIONS THAT LEAD TO OUTSTANDING AND MEASURABLE RESULTS. LFGSM GRANTS MBA DEGREES AND SPECIALIZES IN MANAGEMENT DEVELOPMENT EDUCATIONAL PROGRAMS FOR MANAGERS AND EXECUTIVES OF AREA BUSINESSES AND OTHER ORGANIZATIONS. THE MAJORITY OF LFGSM'S STUDENTS ENROLLED ARE FROM CHICAGO, ILLINOIS AND ITS SURROUNDING SUBURBS. false false 6715677 350051 9977890 LAKE FOREST GRADUATE SCHOOL OF MANAGEMENT COMBINES TRADITIONAL AND LEADING-EDGE ACADEMICS WITH A PRACTITIONER FACULTY THAT PROVIDES A DYNAMIC CONNECTION WITH THE REAL WORLD OF BUSINESS. THIS DISTINCTIVE APPROACH RESPONDS DIRECTLY TO THE RESULTS-ORIENTED DEMANDS OF TODAY'S BUSINESS ENVIRONMENT WHILE SATISFYING ACADEMIC RIGOR. OUR FACULTY MEMBERS OFFER DIVERSE PERSPECTIVES AND REPRESENT A WIDE ARRAY OF ORGANIZATIONS, INDUSTRIES, AND FUNCTIONS. THEY BLEND SOLID BUSINESS THEORY WITH PRACTICAL EXPERIENCE, SO STUDENTS RECEIVE A HANDS-ON EDUCATION THAT IS UNMATCHED. ALL OF OUR FACULTY MEMBERS HAVE EXTENSIVE PRACTICAL EXPERIENCE IN THE SUBJECT AREAS THEY TEACH. BUILDING ON THE SKILLS STUDENTS BRING TO THE PROGRAM, OUR COURSES SHARPEN THEIR ANALYTICAL ABILITIES BY COMBINING COURSE WORK WITH DAY-TO-DAY PROFESSIONAL EXPERIENCES. OUR GENERAL MBA PROGRAM OFFERS A BROAD KNOWLEDGE BASE IN EVERY AREA NEEDED FOR SUCCESS IN TODAY'S BUSINESS WORLD. INTERACTIVE AND PERSONAL, OUR FACULTY MEMBERS INCORPORATE A WIDE RANGE OF TEACHING METHODOLOGIES, INCLUDING FACILITATED DISCUSSION, ISSUES AND RESPONSIBILITIES FACING MANAGEMENT TODAY. 1376075 0 1260375 LAKE FOREST CORPORATE LEARNING SOLUTIONS (CLS) IS A PART OF LAKE FOREST GRADUATE SCHOOL WHICH PROVIDES INTERRELATED FORMAL CLASSROOM BUSINESS EDUCATION INSTRUCTION IN THE FORM OF CERTIFICATE PROGRAMS AND SHORT-TERM WORKSHOPS IN SUBJECTS SUCH AS STRATEGIC EXECUTION, FINANCE, COMMUNICATION, LEADERSHIP DEVELOPMENT, NEGOTIATIONS, PROJECT MANAGEMENT, MANAGING CHANGE, AND SALES. CLS PROVIDES THESE PROGRAMS TO CORPORATIONS, PRIMARILY IN THE CHICAGO AREA. LCLS DEVELOPS CURRICULA, WHICH WHEN DELIVERED THROUGH FORMAL CLASSROOM INSTRUCTION ENABLE EMPLOYEES OF THOSE ORGANIZATIONS TO BROADEN THEIR BUSINESS KNOWLEDGE, AND TO HELP THEM MOVE FROM INDIVIDUAL CONTRIBUTOR TO ORGANIZATIONAL CONTRIBUTORS. THIS IS ACCOMPLISHED BY TAILORING CURRICULA, CONTENT, AND PROGRAMS TO MEET SPECIFIC NEEDS OF THE EMPLOYEES OF THE CORPORATIONS. 8091752 true true false false false false false false true true false false false false true true false true false false false false false true false false false true true false false false false false false false false false false false false false false false false false false true 16 0 true 188 true false false false false false true true false false false false false false X 21 20 false false false false false false false true true false false false true true true true true true true false X MALCOLM DOUGLAS 8475745166 1905 W FIELD COURT LAKE FOREST IL 60045 DAVID MCDONOUGH BOARD CHAIR 1.00 X X 0 0 0 JOHN PAPPAS TRUSTEE / FACULTY / SECRETARY 1.00 X X 31033 0 0 JOHN POPOLI PRESIDENT & CEO 38.00 X X 243633 0 32935 KENNETH A HOFFMAN BOARD VICE CHAIR 1.00 X X 0 0 0 ANTOINETTE GAWIN TRUSTEE 1.00 X 0 0 0 B RICHARD SURKAMER TRUSTEE 1.00 X 0 0 0 CAROLS MINETTI TRUSTEE 1.00 X 0 0 0 CHRISTOPHER KEMPA TRUSTEE 1.00 X 0 0 0 EDWARD O CARNEY TRUSTEE 1.00 X 0 0 0 JOAN BAILAR TRUSTEE 1.00 X 0 0 0 JODY BERNS TRUSTEE / FACULTY 1.00 X 11775 0 0 JOHER S AKOLAWALA TRUSTEE 1.00 X 0 0 0 JOHN F GINASCOL TRUSTEE 1.00 X 0 0 0 LEANNA J WALTHER TRUSTEE 1.00 X 0 0 0 MARK N DAJANI TRUSTEE 1.00 X 0 0 0 PATRICIA COFFEY TRUSTEE 1.00 X 0 0 0 RICK ADAMS TRUSTEE 1.00 X 0 0 0 SCOTT SHAFFER TRUSTEE 1.00 X 0 0 0 STEPHEN SCHUTT TRUSTEE 1.00 X 0 0 0 WARREN LINDLEY TRUSTEE 1.00 X 0 0 0 WILLIAM COLBOURNE TRUSTEE 1.00 X 0 0 0 CHRIS MULTHAUF EVP - EDUCATIONAL PROGRAMS AND SOLUTIONS 38.00 X 196270 0 19246 GREG KOZAK VP-RDI & INFORMATION TECHNOLOGY 38.00 X 144281 0 40908 KATHY LECK EVP-EDUCATIONAL PROGRAMS AND SOLUTIONS 38.00 X 205218 0 36285 MALCOLM DOUGLAS V P - CFO 38.00 X 167108 0 45023 PETER DRUMMOND VP MARKETING & ADMISSIONS 38.00 X 145642 0 39013 STASIA ZWISLER VP HR & FUNDRAISING 38.00 X 126482 0 40711 ELLEN MCMAHON DEAN, FACULTY RELATIONS AND DEGREE PROGRAMS 38.00 X 104889 0 10406 MANISH SHAH SR DIRECTOR, R & D AND INNOVATION 38.00 X 105304 0 9747 1481637 0 274274 10 false true false NETWORKS INC 3327 N KENMORE SUITE 100 CHICAGO IL 60657 MARKETING 447550 MARKETING PARTNERSHIPS INTERNATIONAL 20 N WACKER DR SUITE 1622 CHICAGO IL 60606 MARKETING 335646 BRIERTON DESIGN 450 SKOKIE BLVD SITE 503 NORTHBROOK IL 60062 MARKETING 174719 DIVERSIFIED SEARCH LLC 2005 MARKET ST SUITE 3300 PHILADELPHIA PA 19103 STAFFING SERVICES 112450 4 87451 461292 548743 MBA PROGRAM TUITION 900099 9897968 9897968 NON-DEGREE BUSINESS PROGRAMS 900099 1260375 1260375 OTHER MBA PROGRAM FEES 900099 74493 74493 0 0 0 0 0 0 11232836 162370 162370 0 0 102921 0 102921 0 102920 102920 0 0 0 14566 87451 41554 -26988 -26988 0 0 0 MISCELLANEOUS REVENUE 900099 5429 5429 0 0 0 0 0 5429 12025310 11238265 0 238302 0 350051 350051 0 0 0 0 1487662 505413 966839 15410 4736084 3249751 1307936 178397 0 336833 161296 161756 13781 480876 230273 230928 19675 359469 212944 135021 11504 0 22917 147 22476 294 54400 54400 0 0 0 0 0 0 0 1326896 1326896 108937 49809 55824 3304 261402 51330 210072 0 284751 284751 23252 11716 11269 267 0 33924 12452 21120 352 0 0 491016 328981 162035 69922 33920 36002 PROGRAM SERVICES 805817 805817 STUDENT SERVICES AND INSTITUTIONAL SUPPORT 774532 258557 487454 28521 OPERATIONS AND MAINTENANCE 308848 217648 91200 0 0 0 0 12317589 8091752 3954332 271505 0 1850640 3007588 379558 464292 80741 84547 1318491 1324492 0 0 0 0 273350 67949 13227101 4526122 9177350 8700979 5735643 6521132 0 0 0 0 0 0 18815773 20170979 798218 1626317 773003 868036 0 0 0 0 1571221 2494353 X 16354982 16760904 689570 715722 200000 200000 17244552 17676626 18815773 20170979 -292279 724353 0 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 363352 3600 37877 16790 388039 381689 1000 -6587 12750 363352 267820 123429 9560 381689 262674 350 17002 12206 267820 110094 150000 9955 7375 262674 0.00000 0.52000 0.48000 false false 2253006 2253006 8269963 2701962 5568001 708244 230716 477528 1995888 1593444 402444 0 8700979 0 0 X 12462916 724353 21750 41554 787657 11675259 0 350051 350051 12025310 12030842 21750 41554 63304 11967538 350051 350051 12317589 Schedule D, Part V, Line 4, Intended uses of endowment funds THE YOMINE ENDOWMENT FUND AND THE KAULE ENDOWMENT FUND ARE USED TO PROVIDE SCHOLARSHIPS TO MBA STUDENTS. Schedule D, Part X, Line 2, FIN 48 (ASC 740) footnote THE SCHOOL HAS RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE INDICATING THAT IT IS A NOT-FOR-PROFIT ENTITY AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC") AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE IRC, EXCEPT FOR TAXES PERTAINING TO UNRELATED BUSINESS INCOME. THE SCHOOL FOLLOWS GUIDANCE WITH RESPECT TO ACCOUNTING FOR UNCERTAIN TAX POSITIONS. NO PROVISION HAS BEEN MADE FOR INCOME TAXES IN THE ACCOMPANYING FINANCIAL STATEMENTS, AS THE SCHOOL HAS HAD NO SIGNIFICANT UNRELATED BUSINESS INCOME. IF THE SCHOOL INCURS INTEREST AND PENALTIES, THE SCHOOL RECOGNIZES INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST AND INCOME TAX EXPENSE, RESPECTIVELY. THE SCHOOL HAS NO AMOUNTS ACCRUED FOR INTEREST OR PENALTIES AS OF JUNE 30, 2014 OR 2013. THE SCHOOL HAS NOT BEEN EXAMINED BY ANY TAX JURISDICTION. THE SCHOOL HAS NO ONGOING FEDERAL, STATE OR LOCAL TAX AUDITS, HOWEVER, THE SCHOOL'S TAX RETURNS FOR 2011 AND SUBSEQUENT YEARS ARE OPEN TO EXAMINATION. THE SCHOOL DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS TO SIGNIFICANTLY CHANGE IN THE NEXT 12 MONTHS. Schedule D, Part XI, Line 2d, Other revenues in audited financial statements not in form 990 FUNDRAISING EXPENSES - 41554; Schedule D, Part XI, Line 4b, Other revenues in form 990 not in audited financial statements SCHOLARSHIPS - 350051; Schedule D, Part XII, Line 2d, Other expenses in audited financial statements not in form 990 FUNDRAISING EXPENSES - 41554; Schedule D, Part XII, Line 4b, Other expenses in form 990 not in audited financial statements SCHOLARSHIPS - 350051; true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3, Racially nondiscriminatory policy POLICIES ARE INCLUDED IN ALL STUDENT, STAFF, AND FACULTY PUBLICATIONS INCLUDING HANDBOOKS, CATALOGS, AND PERIODICALLY IN MEDIA ADVERTISEMENTS AND OTHER SCHOOL PUBLICATIONS. Schedule E, Part I, Line 6a, Financial aid or assistance from a governmental agency LAKE FOREST GRADUATE SCHOOL OF MANAGEMENT(LFGSM) RECEIVES THE FOLLOWING FINANCIAL AID AND/OR ASSISTANCE FROM A GOVERNMENTAL AGENCY: SCHOLARSHIPS, LOANS, VETERANS BENEFITS, AND SUPPLEMENTAL INFORMATION RESOURCES. ALL LFGSM STUDENTS ARE ELIGIBLE TO APPLY FOR FEDERAL STAFFORD LOANS. IN ADDITION TO STAFFORD LOANS, LFGSM STUDENTS MAY BE ELIGIBLE TO APPLY FOR THE SUPPLEMENTAL FINANCIAL RESOURCES INCLUDING SCHOLARSHIPS, VETERANS BENEFITS, AND PRIVATE LOANS. LAKE FOREST GRADUATE SCHOOL OF MANAGEMENT'S DEPARTMENT OF EDUCATION TITLE IV SCHOOL CODE IS G23192. GOLF 102017 87451 14566 0 0 41554 0 0 102017 87451 14566 0 0 41554 0 0 0 41554 -26988 true SCHOLARSHIPS 263 350051 FMV Schedule I, Part I, Line 2, Procedures for monitoring use of grant funds ALL GRANTS ARE IN THE FORM OF SCHOLARSHIPS AND ARE APPLIED TOWARD THE COST OF TUITION ONLY. X X X X X false false false false false true false false false MALCOLM DOUGLAS V P - CFO 166694 0 0 0 414 0 17608 0 27415 0 212131 0 0 0 PETER DRUMMOND VP MARKETING & ADMISSIONS 145228 0 0 0 414 0 10872 0 28141 0 184655 0 0 0 GREG KOZAK VP-RDI & INFORMATION TECHNOLOGY 142777 0 1090 0 414 0 15177 0 25731 0 185189 0 0 0 KATHY LECK EVP-EDUCATIONAL PROGRAMS AND SOLUTIONS 202933 0 0 0 2286 0 19950 0 16335 0 241504 0 0 0 CHRIS MULTHAUF EVP - EDUCATIONAL PROGRAMS AND SOLUTIONS 195496 0 0 0 774 0 19246 0 0 0 215516 0 0 0 JOHN POPOLI PRESIDENT & CEO 242445 0 0 0 1188 0 24664 0 8271 0 276568 0 0 0 STASIA ZWISLER VP HR & FUNDRAISING 123575 0 2500 0 407 0 13297 0 27415 0 167193 0 0 0 Schedule J, Part I, Line 6a, Compensation contingent on net earnings of the organization THE PURPOSE OF THE LAKE FOREST GRADUATE SCHOOL OF MANAGEMENT'S (LFGSM) MANAGEMENT INCENTIVE PLAN (MIP), IN KEEPING WITH THE MISSION OF THE SCHOOL, IS TO PROVIDE AN INCENTIVE TO CERTAIN EMPLOYEES WHOSE RESPONSIBILITY AND ACCOMPLISHMENTS DIRECTLY IMPACT THE SCHOOL'S ACHIEVEMENT OF ITS GOALS. THE MIP IS ONE COMPONENT OF LFGSM'S MANAGEMENT COMPENSATION PROGRAM. THE MIP RESTS ON THREE PRINCIPLES: * RECOGNIZE CONTRIBUTIONS MADE BY KEY MANAGEMENT STAFF ABOVE AND BEYOND NORMAL JOB EXPECTATIONS; * REWARD ACHIEVEMENT OF GOALS THAT ENHANCE THE VISION, PHILOSOPHY, AND VIABILITY OF LFGSM; AND * PROVIDE A MECHANISM TO ATTRACT AND RETAIN TOP QUALITY MANAGEMENT STAFF. Form 990, Part VI, Sec B, Line 11b, Review of form 990 by governing body THE FORM 990 IS REVIEWED BY MEMBERS OF THE FINANCE AND AUDIT COMMITTEE BEFORE IT IS FILED. AT THE TIME OF THIS REVIEW OUR PROFESSIONAL TAX PREPARER GUIDES THE COMMITTEE THROUGH EACH SECTION OF THE FORM AND ANSWERS QUESTIONS THAT THE COMMITTEE MAY HAVE. A FINAL COPY IS PROVIDED TO ALL BOARD MEMBERS AFTER THE RETURN IS FILED WITH THE IRS. THE FINANCE AND AUDIT COMMITTEE IS MADE UP OF MEMBERS, ALL OF WHOM HAVE A FINANCIAL BACKGROUND, AND CAN UNDERSTAND AND CAN INTERPRET FINANCIAL STATEMENTS. Form 990, Part VI, Sec B, Line 12c, Conflict of interest policy ALL SITTING BOARD MEMBERS AND OFFICERS ARE REQUIRED ANNUALLY TO COMPLETE AND SIGN A CONFLICT OF INTEREST STATEMENT WHICH IS REVIEWED BY THE PRESIDENT. BOARD MEMBERS AND OFFICERS ARE REQUESTED TO COMPLETE 11 QUESTIONS THAT COVER VARIOUS POSSIBLE CONFLICTS OF INTEREST, INCLUDING THOSE REQUIRED TO BE DISCLOSED IN THE FORM 990. THIS PROCESS IS FACILITATED BY THE SCHOOL'S PROFESSIONAL TAX PREPARERS. ALL DISCLOSED CONFLICTS ARE REVIEWED BY MANAGEMENT AND ITS PROFESSIONAL TAX PREPARERS TO ENSURE AN APPROPRIATE RESPONSE ON THE FORM 990. AS A CONDITION OF HIRE, AND ANNUALLY THEREAFTER, ALL FULL-TIME AND PART-TIME EMPLOYEES ARE REQUIRED TO READ AND SIGN A CONFIDENTIALITY & CONFLICT OF INTEREST AGREEMENT. IF A CONFLICT OF INTEREST IS IDENTIFIED, THE V.P. - HR, V.P. - CFO, AND ALL OTHER PARTIES INVOLVED WILL DISCUSS THE ISSUE AND WILL: A. DOCUMENT THE CONTROLS THAT WILL BE FOLLOWED TO ACHIEVE COMPLIANCE, OR B. TERMINATE THE ARRANGEMENT IF SUFFICIENT CONTROLS CANNOT BE PUT INTO PLACE TO ACHIEVE COMPLIANCE. THE SIGNED AGREEMENT WILL BE PLACED IN THE EMPLOYEE'S PERSONNEL FILE. EMPLOYEES WHO IMPROPERLY USE OR DISCLOSE CONFIDENTIAL BUSINESS INFORMATION OR WHO FAIL TO DISCLOSE A CONFLICT OF INTEREST FROM WHICH HE/SHE OR A MEMBER OF HIS/HER FAMILY AS DEFINED ABOVE COULD GAIN SUBSTANTIAL BENEFIT WILL BE SUBJECT TO CORRECTIVE ACTION, UP TO AND INCLUDING IMMEDIATE TERMINATION OF EMPLOYMENT, EVEN IF THEY DO NOT ACTUALLY BENEFIT FROM DISCLOSURE OF THE INFORMATION OR LACK OF DISCLOSURE OF A CONFLICT OF INTEREST. Form 990, Part VI, Sec B, Line 15a, Process to establish compensation of top management official LAKE FOREST GRADUATE SCHOOL OF MANAGEMENT'S (LFGSM) COMPENSATION AND HUMAN RESOURCES COMMITTEE OF THE BOARD OF DIRECTORS REQUESTS AN EXTERNAL INDEPENDENT REVIEW OF COMPENSATION AND BENEFITS PROVIDED TO THE SCHOOLS "INTERESTED PERSONS" (DISQUALIFIED INDIVIDUALS) TO ASSIST THE COMMITTEE IN ITS ASSESSMENT OF THE REASONABLENESS OF THEIR COMPENSATION COMPARED TO MARKET DATA ASSEMBLED BY AN INDEPENDENT THIRD PARTY. THE INDEPENDENT THIRD PARTY'S PROCESSES FOR COLLECTING AND ASSEMBLING MARKET DATA IS CONSISTENT WITH THE REBUTTABLE PRESUMPTION CHECKLIST USED BY THE INTERNAL REVENUE SERVICE IN CONDUCTING COMPENSATION REVIEWS AS WELL AS CONTEMPORARY COMPENSATION PRACTICES. ALL MARKET DATA ARE ASSEMBLED FROM REPUTABLE, COMMERCIALLY-AVAILABLE SURVEYS, AS WELL AS PEER REVIEW FROM IRS FORM 990 SUBMISSIONS. THE STUDY REPORT PRESENTS AN OVERVIEW OF THE TOTAL CASH AND BENEFITS PROVIDED TO THE LEADERSHIP STAFF OF COMPARABLE NOT-FOR-PROFIT COLLEGES AND UNIVERSITIES, OTHER NON-PROFIT ORGANIZATIONS, AND SIMILAR FOR-PROFIT ORGANIZATIONS. THE COMPARABILITY OF MULTIPLE SURVEY SOURCES FOLLOWS THE EXECUTIVE COMPENSATION PHILOSOPHY ADOPTED BY THE LFGSM BOARD IN 2003 AND REVISED IN 2004, 2009, 2010, AND 2011. THIS WIDER RANGE OF ORGANIZATIONS BETTER REFLECTS FROM WHERE LFGSM IS MOST LIKELY TO RECRUIT OR TO LOSE ITS SENIOR TALENT. THE PEER GROUP TO ESTABLISH COMPETITIVE COMPENSATION MARKET DATA FOR EXECUTIVE POSITIONS INCLUDES ORGANIZATIONS SIMILAR IN SIZE AND SCOPE TO LFGSM AND NOT FOCUSED ON MULTIPLE PEER SECTORS WITH DATA CUTS OF ORGANIZATIONS ROUGHLY THE SIZE OF LFGSM. THE METHODOLOGY OF THE STUDY IS DESCRIBED FOLLOWING THE OVERVIEW SECTION. THE MARKET ANALYSIS SECTION PRESENTS THE MARKET COMPARISON INFORMATION FOR BASE AND ACTUAL CASH COMPENSATION RECEIVED BY THE SEVEN INCUMBENT MANAGEMENT BOARD MEMBERS. THE REVIEW INCLUDES COMPARISONS TO THE MARKET'S 50TH PERCENTILE FOR BOTH BASE AND TOTAL COMPENSATION . THE BENEFIT ANALYSIS SECTION PRESENTS AN ANALYSIS OF THE BENEFITS AND PERQUISITES RECEIVED BY THE LFGSM MANAGEMENT BOARD. THE REPORT CONCLUDES WITH THE RECOMMENDATIONS SECTION. DATA IS COLLECTED FROM REPUTABLE, COMMERCIALLY AVAILABLE MARKET DATA. DATA IS COLLECTED FROM ORGANIZATIONS SIMILAR IN REVENUE AND NUMBER OF EMPLOYEES TO LFGSM. DATA IS GATHERED FROM THE ENTIRE U.S., AS THESE POSITIONS WOULD BE RECRUITED FROM A NATIONAL POOL OF APPLICANTS AND THEN INDEXED TO THE CHICAGO AREA TO BETTER REFLECT THE WAGE AND SALARY RATES FOR THE AREA. MARKET MATCHES ARE DETERMINED BY JOB RESPONSIBILITY, NOT JOB TITLE ALONE. SEVERAL EXECUTIVE STAFF MEMBERS HAVE DIVERSE RESPONSIBILITIES. IN THESE CASES THE DATA MAY BE BLENDED TO REFLECT THE ADDED BREADTH OF THEIR RESPONSIBILITIES. THIS PROCESS WAS LAST UNDERTAKEN DURING THE FIRST QUARTER OF 2011 AND IS PERFORMED TRIENNIALLY. THE NEXT PROJECTED YEAR THE PROCESS WILL BE UNDERTAKEN IN THE FOURTH QUARTER OF 2014. THE FOLLOWING POSITIONS WERE INCLUDED IN THE 2011 STUDY: PRESIDENT AND CEO, EVP-EDUCATIONAL PROGRAMS AND SOLUTIONS, VP-RDI & INFORMATION TECHNOLOGY, VP MARKETING & ADMISSIONS, VP HR AND FUNDRAISING, VP INFORMATION TECHNOLOGY, AVP CORPORATE LEARNING SOLUTIONS, AND VP & CFO. Form 990, Part VI, Sec B, Line 15b, Process to establish compensation of other employees NARRATIVE WAS COMBINED WITH LINE 15A NARRATIVE; SEE ABOVE RESPONSE. Form 990, Part VI, Sec C, Line 19, Required documents available to the public FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICIES ARE NOT REQUIRED DISCLOSURES PURSUANT TO INTERNAL REVENUE CODE (IRC) SECTION 6104. THESE DOCUMENTS ARE NOT AVAILABLE TO THE PUBLIC AT THIS TIME. FORM 990, PART VII, SECTION A, LINE 1A, COMPENSATION PAID TO OFFICERS, DIRECTORS, KEY EMPLOYEES, ETC COMPENSATION PAID TO BOARD MEMBERS IS PROVIDED IN EXCHANGE FOR SERVICES AS FACULTY MEMBERS. THESE PERSONS ARE NOT COMPENSATED IN THEIR POSITION AS BOARD MEMBERS.