2014-01-15T13:07:27-06:00 2013-05-31 420794029 DENMAN & COMPANY LLP 1601 22ND STREET SUITE 400 WEST DES MOINES IA 502661453 990 2012-06-01 420680460 DRAKE UNIVERSITY DRAK 5152713710 2507 UNIVERSITY AVENUE DES MOINES IA 503114505 DEBORAH C NEWSOM 5152713710 2014-01-16 1 BRUCE CAHILL P00546325 5152258400 2012 2015-11-30 17:44:51Z DR DAVID E MAXWELL 2507 UNIVERSITY AVENUE DES MOINES IA 503114505 212121310 0 X WWW.DRAKE.EDU X 1881 IA DRAKE'S MISSION IS TO PROVIDE AN EXCEPTIONAL LEARNING ENVIRONMENT THAT PREPARES STUDENTS FOR MEANINGFUL PERSONAL LIVES, PROFESSIONAL ACCOMPLISHMENTS, AND RESPONSIBLE GLOBAL CITIZENSHIP. THE DRAKE EXPERIENCE IS DISTINGUISHED BY COLLABORATIVE LEARNING AMONG STUDENTS, FACULTY, AND STAFF AND BY THE INTEGRATION OF THE LIBERAL ARTS AND SCIENCES WITH PROFESSIONAL PREPARATION. 42 41 3532 1883 241367 31108 22610250 20961940 152883871 156858833 2069051 4473250 3068780 2445903 180631952 184739926 48151340 49018883 0 0 79614650 81975173 29594 20460 4277279 47568498 49107111 175364082 180121627 5267870 4618299 384972409 404636945 114993082 109777304 269979327 294859641 X DRAKE'S MISSION IS TO PROVIDE AN EXCEPTIONAL LEARNING ENVIRONMENT THAT PREPARES STUDENTS FOR MEANINGFUL PERSONAL LIVES, PROFESSIONAL ACCOMPLISHMENTS, AND RESPONSIBLE GLOBAL CITIZENSHIP. THE DRAKE EXPERIENCE IS DISTINGUISHED BY COLLABORATIVE LEARNING AMONG STUDENTS, FACULTY, AND STAFF AND BY THE INTEGRATION OF THE LIBERAL ARTS AND SCIENCES WITH PROFESSIONAL PREPARATION. 0 0 159621790 49018883 156876986 DRAKE UNIVERSITY IS A NATIONAL COEDUCATIONAL, INDEPENDENT AND PRIVATE UNIVERSITY WITH OVER 5,000 STUDENTS. DRAKE IS ACCREDITED BY THE HIGHER LEARNING COMMISSION OF THE NORTH CENTRAL ASSOCIATION OF SCHOOLS AND COLLEGES. 159621790 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 X 13193 0 3532 1 1 1 1 CA CJ OC 0 0 0 1 1 0 0 0 0 X 42 41 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X DEBORAH NEWSOM 5152713710 2507 UNIVERSITY AVENUE DES MOINES IA 50311 JOE AIELLO 1.00 X 0 0 0 GRETCHEN BATAILLE 1.00 X 0 0 0 HERBERT M BAUM 1.00 X 0 0 0 JAMES BRUNER 1.00 X 0 0 0 PATRICIA HINES COWNIE 1.00 X 0 0 0 RICHARD S CUSAC 1.00 X 0 0 0 DONALD F DAVIDSON 1.00 X 0 0 0 SALLY DAVIS 1.00 X 0 0 0 DONALD LEE DECKER 1.00 X 0 0 0 WILLIAM W DRURY JR 1.00 X 0 0 0 MARK ERNST 1.00 X 0 0 0 PEGGY FISHER 1.00 X 0 0 0 DONALD H FLETCHER 1.00 X 0 0 0 DAVID GOLDER 1.00 X 0 0 0 DICK HARTIG 1.00 X 0 0 0 CAIN HAYES 1.00 X 0 0 0 ANNE HILTON 1.00 X 0 0 0 JAMES W HUBBELL III 1.00 X 0 0 0 DANIEL E JACOBI 1.00 X 0 0 0 SCOTT JOHNSON 1.00 X 0 0 0 WILLIAM CLARE KNAPP II 1.00 X 0 0 0 CATHRYN LACY 1.00 X 0 0 0 JUSTICE DOUGLAS S LANG 1.00 X 0 0 0 PAUL W LEAVITT 1.00 X 0 0 0 CYNTHIA LESHER 1.00 X 0 0 0 SANDY MARSHALL 1.00 X 0 0 0 DAVID MAXWELL 40.00 X X 876031 0 31610 PATRICK MEYER 1.00 X 0 0 0 DAVID MILES 1.00 X 0 0 0 DWIGHT D OPPERMAN 1.00 X 0 0 0 SUKU RADIA 1.00 X 0 0 0 THOMAS J ROSSLEY 1.00 X 0 0 0 DEBBIE SCRIPPS 1.00 X 0 0 0 DR JOHN JOSEPH SHUFELDT JR 1.00 X 0 0 0 WILLIAM E SMITH 1.00 X 0 0 0 KERMIT SUTTON 1.00 X 0 0 0 MARSHA TERNUS 1.00 X 0 0 0 RUDOLPH D TREBELS 1.00 X 0 0 0 BENJAMIN B ULLEM 1.00 X 0 0 0 LINDSAY WHORTON 1.00 X 0 0 0 W ANDREW WRIGHT III 1.00 X 0 0 0 LARRY D ZIMPLEMAN 1.00 X 0 0 0 LINDA RYAN 40.00 X 79892 0 11836 DEBORAH NEWSOM 40.00 X 147328 0 15601 JOHN SMITH 40.00 X 173629 0 24840 THOMAS DELAHUNT III 40.00 X 174162 0 25328 SUSAN WRIGHT 40.00 X 136515 0 14831 DENEESE JONES 40.00 X 118060 0 13096 MARK PHELPS 40.00 X 279756 0 27838 ALLAN VESTAL 40.00 X 254906 0 27838 NEIL HAMILTON 40.00 X 207730 0 26467 C KENNETH MEYER 40.00 X 201959 0 21146 RAYLENE ROSPOND 40.00 X 211499 0 27721 VICTORIA PAYSEUR 40.00 X 219495 0 10534 3080962 0 278686 120 1 1 0 SODEXO INC & AFFILIATES 4880 PAYSPHERE CIRCLE CHICAGO IL 60674 FOOD SERVICE 6941592 WEITZ COMPANY INC 5901 THORNTON AVENUE DES MOINES IA 50321 CONSTRUCTION PROJECTS 2701019 DES MOINES INDEPENDENT SCHOOL DISTRICT 1801 16TH STREET DES MOINES IA 50314 HEAD START PROGRAM 1644979 MUNRO CONSTRUCTION COMPANY 5530 NW BEAVER DR STE 100 JOHNSTON IA 50131 CONSTRUCTION PROJECTS 603489 THOMSON WEST PO BOX 64833 SAINT PAUL MN 55164 LIBRARY ACQUISITIONS 512863 61 42950 9449589 11469401 2045830 20961940 STUDENT TUITION & FEES 611710 133548745 133548745 CONTRACT MEALS - FOOD 722100 7997254 7997254 CONTRACT INCOME - RES 721310 7228249 7228249 SPORTS INCOME 711210 5970376 5970376 OTHER INSTRUCTIONAL PR 611710 454163 454163 1660046 411373 219202 1029471 156858833 2567398 2567398 22522 22522 1249173 559705 689468 689468 689468 28699357 26736706 56799 1962651 -56799 1905852 1905852 25421 42950 28174 -2753 -2753 OTHER INCOME 611710 1718513 4012 1714501 ALUMNI FEES 611710 13445 13445 ATHLETIC PHOTO SALES 453220 4708 4708 1736666 184739926 139930494 241367 23606125 49018883 49018883 1401407 382423 839158 179826 60967895 54297378 4577745 2092772 4098274 3315133 626975 156166 11213485 6031108 4619335 563042 4294112 3467562 676934 149616 224711 67408 157303 281623 281623 83663 83663 20460 20460 79327 79327 6035733 5291049 441043 303641 451034 201202 248851 981 1668105 1165615 261595 240895 3483325 3232646 55136 195543 2091216 2091216 7759746 7683292 76454 699230 10116 689114 UNRELATED BUS INC TAX 506 506 CONTRACTS & LEASES 10001604 9286765 645673 69166 DUES & SUBSCRIPTIONS 3446749 2719672 692355 34722 ATHLETICS GAME EXPENSES 2692648 2692648 10107891 8584011 1253431 270449 180121627 159621790 16222558 4277279 25278280 28263346 19909525 18470188 18033190 13425475 4383870 4684612 13598266 12434705 226972 157621 1293857 1432672 274968175 105146745 167658623 169821430 60034108 73362176 73258635 81480052 1297083 1104668 384972409 404636945 25773668 25562084 12316440 12632574 8672903 8484727 53725000 50550000 14505071 12547919 114993082 109777304 X 131433380 152395196 34698657 35322883 103847290 107141562 269979327 294859641 384972409 404636945 X 4618299 15833059 4428956 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 1 8663 1 60000 0 1 15000 83663 0 EXPLANATION OF LOBBYING ACTIVITIES: PART II-B, LINE 1: DRAKE UNIVERSITY HAS RETAINED THE SERVICES OF A WASHINGTON DC LAW FIRM TO MAINTAIN DIRECT CONTACT WITH LEGISLATORS, STAFFS, AND GOVERNMENT OFFICIALS FOR THE PURPOSE OF COMMUNICATING DRAKE FEDERAL FUNDING PRIORITIES. THE FIRM ALSO ADVISES DRAKE ON PUBLIC PRIVATE PARTNERSHIP WITH THE GOVERNMENT AND PROVIDES GENERAL INFORMATION ABOUT POLICY RELATED TO EDUCATION AND EDUCATION FUNDING. 149284407 5940392 20558219 2782068 4228720 152986 168619244 153404794 5749779 -3206609 2673298 3807232 183027 149284407 135714667 5217057 19399641 2803072 3896625 226874 153404794 115406123 12142745 14692235 2793215 3508520 224701 135714667 146217248 6508576 -30729414 5460039 815005 315243 115406123 0.29160 0.61490 0.09350 1 0 8200154 24123313 32323467 179341957 73958314 105383643 60302109 31188431 29113678 3000642 3000642 169821430 CASH SURRENDER VALUE - LIFE INSURANCE 4412919 F FUNDS HELD IN TRUST BY OTHERS 10017417 F PRIVATE EQUITY FUNDS 56619655 F PRIVATE COMMINGLED BOND FUNDS 10430061 F 81480052 ANNUITIES PAYABLE 3247905 INTEREST RATE SWAP AGREEMENT LIABILITY 7392100 REAL ESTATE DEPOSITS 119896 AGENCY FUNDS 109466 FIN 47 LIABILITY 1520828 CAPITAL LEASES PAYABLE 157724 12547919 X 156011232 15833059 4428956 20262015 135749217 48990709 48990709 184739926 131130918 28174 28174 131102744 49018883 49018883 180121627 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE UNIVERSITY'S ENDOWMENT CONSISTS OF DONOR GIFTS PLUS OTHER BOARD DESIGNATED FUNDS WHICH ARE DEEMED TO BE HELD AND INVESTED IN PERPETUITY. THE BOARD OF TRUSTEES APPROVES A SPENDING POLICY ANNUALLY FOR THE ENDOWMENT. ENDOWMENT EARNINGS ARE SPENT ON SCHOLARSHIPS AND AWARDS, GENERAL EDUCATION SUPPORT AND LIBRARIES, GENERAL UNIVERSITY OPERATIONS, AND FACULTY CHAIRS AND PROFESSORSHIPS IN ACCORDANCE WITH DONOR STIPULATIONS AND BOARD RESTRICTIONS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: GAAP REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE UNIVERSITY AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE UNIVERSITY HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE UNIVERSITY, AND HAS CONCLUDED THAT AS OF JUNE 30, 2013, MAY 31, 2013 AND MAY 31, 2012, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE UNIVERSITY IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -382,734. CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENTS 2,287,786. POSTRETIREMENT BENEFIT PLAN RELATED CHANGES 2,523,904. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 49,018,883. FUNDRAISING EVENT EXPENSES -28,174. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES 28,174. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 49,018,883. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 DRAKE UNIVERSITY DOES NOT UNLAWFULLY DISCRIMINATE ON THE BASIS OF SEX, COLOR, RELIGION, NATIONAL OR ETHNIC ORIGINS, AGE, SEXUAL ORIENTATION, DISABILITY OR VETERAN DISABILITY STATUS IN ADMINISTRATION OF ITS POLICIES ENCOMPASSING THE ENTIRE UNIVERSITY. DRAKE RESERVES THE RIGHT TO TAKE AFFIRMATIVE ACTION IN CONNECTION WITH THIS POLICY. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 DRAKE RECEIVES TITLE IV FINANCIAL AID FOR STUDENTS FROM THE DEPARTMENT OF EDUCATION PELL GRANT PROGRAM, SEOG, WORK STUDY PROGRAM, AND PERKINS LOAN PROGRAM. X X X X X X X 1 BENTZ WHALEY FLESSNER INC 7251 OHMS LANE MINNEAPOLIS MN 55439 CONSULTING 0 0 20460 -20460 20460 -20460 CA IL KS MN MO NJ NC WI BULLDOG CLUB GOLF TOURNAMENT 21121 7450 13671 423 6373 4981 3536 TALONS OF TUSCANY GOLF TOURNAMENT 47250 35500 11750 93 2437 10331 68371 42950 25421 516 6373 7418 13867 28174 -2753 1 DRAKE UNIVERSITY AWARDED STUDENT AID 3501 44439078 RESTRICTED/ENDOWED SCHOLARSHIPS 671 4579805 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: DRAKE UNIVERSITY HAS EMPLOYEES DEDICATED TO POST-AWARD REVIEW AND COMPLIANCE FOR ALL FEDERAL, STATE, AND PRIVATE GRANTS RECEIVED. IN ADDITION, DRAKE RECEIVES AN A-133 AUDIT ON AN ANNUAL BASIS FROM OUR EXTERNAL AUDIT FIRM. OUR FY13 A-133 AUDIT EXPRESSED AN UNQUALIFIED OPINION WITH NO FINDINGS, NO SIGNIFICANT DEFICIENCIES IN INTERNAL CONTROL, AND NO INSTANCES OF MATERIAL NONCOMPLIANCE. X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 DAVID MAXWELL 343705 0 10000 0 522326 0 20000 0 11610 0 907641 0 315000 0 DEBORAH NEWSOM 143531 0 0 0 3797 0 10267 0 5334 0 162929 0 0 0 JOHN SMITH 164286 0 3500 0 5843 0 13660 0 11180 0 198469 0 0 0 THOMAS DELAHUNT III 166030 0 7500 0 632 0 13976 0 11352 0 199490 0 0 0 SUSAN WRIGHT 129886 0 5000 0 1629 0 9451 0 5380 0 151346 0 0 0 MARK PHELPS 267532 0 0 0 12224 0 16640 0 11198 0 307594 0 0 0 ALLAN VESTAL 252679 0 0 0 2227 0 16640 0 11198 0 282744 0 0 0 NEIL HAMILTON 206313 0 0 0 1417 0 15152 0 11315 0 234197 0 0 0 C KENNETH MEYER 199549 0 0 0 2410 0 10447 0 10699 0 223105 0 0 0 RAYLENE ROSPOND 210035 0 0 0 1464 0 16233 0 11488 0 239220 0 0 0 VICTORIA PAYSEUR 97643 0 7500 0 114352 0 7870 0 2664 0 230029 0 0 0 PART I, LINE 1A A UNIVERSITY-OWNED RESIDENCE IS PROVIDED TO THE PRESIDENT. THIS IS A CONDITION OF EMPLOYMENT AND IS FOR THE CONVENIENCE OF THE EMPLOYER. THE RESIDENCE IS USED FOR MANY UNIVERSITY FUNCTIONS, MEALS, AND RECEPTIONS INVOLVING FACULTY, STAFF, STUDENTS, DONORS, AND THE GENERAL PUBLIC THROUGHOUT THE YEAR. A SOCIAL CLUB MEMBERSHIP IS PROVIDED TO THE PRESIDENT AND HEAD MEN'S BASKETBALL COACH FOR UNIVERSITY BUSINESS. ANY EXPENSES INCURRED THAT ARE NOT RELATED TO UNIVERSITY BUSINESS ARE PAID FOR PERSONALLY BY THE INDIVIDUALS. PART I, LINE 4B VICTORIA PAYSEUR (FORMER OFFICER) PARTICIPATED IN, AND RECEIVED PAYMENT FROM, A SUPPLEMENTAL NONQUALIFIED DEFERRED COMPENSATION PLAN DURING CALENDAR YEAR 2012. VICTORIA'S DEFERRED COMPENSATION AGREEMENT IS DOCUMENTED VIA BOARD RESOLUTION. $110,706 WAS ACCRUED AND EXPENSED IN MAY 2012 AND WAS PAID OUT IN JUNE 2012. DAVID MAXWELL (OFFICER & TRUSTEE) PARTICIPATED IN, AND RECEIVED PAYMENT FROM, A SUPPLEMENTAL NONQUALIFIED DEFERRED COMPENSATION PLAN DURING CALENDAR YEAR 2012. DAVID'S DEFERRED COMPENSATION AGREEMENT IS REFERENCED IN HIS EMPLOYMENT CONTRACT WITH A SEPARATE PLAN AGREEMENT. $169,900 WAS ACCRUED AND EXPENSED IN MAY 2012 AND $315,000 HAD BEEN ACCRUED AND EXPENSED IN PREVIOUS CALENDAR YEARS. THE CUMULATIVE ACCRUED AMOUNT OF $484,900 WAS PAID OUT IN JUNE 2012. AN ADDITIONAL $150,000 HAS BEEN ACCRUED AND EXPENSED AS OF MAY 31, 2013. A IOWA FINANCE AUTHORITY 521699886 46247NAQ8 2007-04-05 22598791 RENOVATION OF FACILITIES 0 0 0 B IOWA FINANCE AUTHORITY 521699886 46246ABB9 2008-04-30 42700000 REFUND PRIOR ISSUE (11/30/05) 0 0 0 A 7095000 23523792 267150 185429 23071213 2009 0 0 1 1 B 7075000 42700000 275000 42425000 2004 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 1 1 0 0 1 ROYAL BANK CANADA 1.500000000000 1 0 0 B 0 0 1 1 1 0 0 0 0 A 1 B 1 SCHEDULE K, PART II, LINE 3, COLUMN A: THE TOTAL PROCEEDS DO NOT AGREE TO THE ISSUE PRICE IN PART I, LINE A, COLUMN (E) DUE TO INVESTMENT EARNINGS. SCHEDULE K, PART IV, ARBITRAGE, LINE 2C: (A) ISSUER NAME: IOWA FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 4/5/2009 (B) ISSUER NAME: IOWA FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 10/30/2009 NOTE REGARDING THE REBATE COMPUTATIONS ON 4/5/2009 & 10/30/2008: SINCE THE BOND PROCEEDS HAVE BEEN SPENT, A SPENDING EXCEPTION WAS MET, AND THE DEBT SERVICE FUND WAS OPERATED ON A BONA FIDE BASIS NO FURTHER REBATE CALCULATIONS WERE NECESSARY. X 49 1956264 TRADING PRICE -DON. DATE X PROGRAM EQUIPMENT 38 89566 APPRAISAL 0 0 1 1 THIRD PARTY USE: PART I, LINE 32B: DRAKE UNIVERSITY USES MERRILL LYNCH IN DES MOINES TO PROCESS AND SELL DONATED SECURITIES. DONORS TRANSFER SECURITIES INTO DRAKE'S ACCOUNT AT MERRILL LYNCH AND THE SECURITIES ARE IMMEDIATELY SOLD, PER BOARD DIRECTION. FORM 990, PART VI, SECTION B, LINE 11 IN APRIL 2009, THE BOARD OF TRUSTEES DETERMINED REVIEW OF THE 2008 AND SUBSEQUENT YEARS' FORM 990 SHOULD BE COMPLETED BY THE BOARD AUDIT COMMITTEE. IN JANUARY 2014, AN ELECTRONIC COPY OF THE COMPLETED CURRENT YEAR FORM 990 WAS PROVIDED TO AND APPROVED BY THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST FORM IS ANNUALLY COMPLETED BY EACH DRAKE UNIVERSITY DIRECTOR, OFFICER, AND KEY ADMINISTRATOR. THE FORM IS COLLECTED BY THE PRESIDENT'S OFFICE WHICH ENSURES ALL REQUESTED FORMS ARE RECEIVED. DRAKE'S EXTERNAL AUDIT FIRM REVIEWS THE FORMS AS PART OF THEIR ANNUAL AUDIT AND REPORTS FINDINGS TO THE BOARD AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE DRAKE UNIVERSITY BOARD OF TRUSTEES, COMPRISED OF NON-EMPLOYEES OF THE UNIVERSITY, REVIEWS AND APPROVES THE COMPENSATION OF THE PRESIDENT AND OTHER KEY EMPLOYEES. THE COMMITTEE IS PROVIDED, BY DRAKE UNIVERSITY HUMAN RESOURCES, COMPARABILITY DATA FROM THE ANNUAL SURVEY CONDUCTED BY THE COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION FOR HUMAN RESOURCES (CUPA-HR). OVER 1,200 INSTITUTIONS PARTICIPATED IN THE SURVEY IN THE FALL OF 2012. RESULTS WERE PUBLISHED IN FEBRUARY OF 2013. THE CUPA-HR SALARY SURVEY TOOL ALLOWS DRAKE UNIVERSITY HUMAN RESOURCES TO CONDUCT A SURVEY OF SALARIES LIMITED TO DRAKE'S PEER GROUP. THIS EVALUATION IS PERFORMED ANNUALLY. THE COMMITTEE MAINTAINS MINUTES OF ITS MEETING PERTAINING TO SALARY DECISIONS AND COMPLETES CONTEMPORANEOUS SUBSTANTIATION OF ITS DELIBERATION AND DECISION. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION'S FORM 1023, FORM 990 AND FORM 990-T ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S AUDIT REPORT IS AVAILABLE ON THE UNIVERSITY'S WEBSITE. THE BYLAWS OF THE ORGANIZATION ARE ALSO AVAILABLE ON THE UNIVERSITY'S WEBSITE. THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT AVAILABLE TO THE PUBLIC. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -382,734. CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENTS 2,287,786. POSTRETIREMENT BENEFIT PLAN RELATED CHANGES 2,523,904. FORM 990, PART XII, LINE 2C, OVERSIGHT OF AUDIT: THE PROCESS FOR AUDIT OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 8621, PART V, DISTRIBUTIONS FROM A SECTION 1291 FUND: ALL AMOUNTS IN PART V OF THE VARIOUS FORM 8621'S SHOULD BE ZERO. DUE TO SYSTEM LIMITATIONS, ZEROS COULD NOT BE ENTERED IN EACH LINE. INSTEAD, THE SOFTWARE LEAVES EACH LINE BLANK. FORM 926 - TRANSFERS TO FOREIGN CORPORATIONS: DRAKE UNIVERSITY INDIRECTLY MADE TRANSFERS OF CASH TO MANY FOREIGN CORPORATIONS VIA PARTNERSHIP INVESTMENTS DURING THE YEAR. ONLY ONE OF THESE TRANSFERS EXCEEDED THE FORM 926 REPORTING THRESHOLD.