2014-05-14T14:29:40-05:00 2013-06-30 381357951 PLANTE & MORAN PLLC 2601 CAMBRIDGE CT SUITE 500 AUBURN HILLS MI 48326 990 2012-07-01 382015048 CRANBROOK EDUCATIONAL COMMUNITY CRAN 2486453000 PO BOX 801 BLOOMFIELD HILLS MI 483030801 RODERICK SPEARIN 2486453000 2014-05-13 1 LYNNE HUISMANN P00053811 2483757100 2012 2015-11-30 17:44:51Z DOMINIC DIMARCO PO BOX 801 BLOOMFIELD HILLS MI 483030801 135350657 0 X WWW.CRANBROOK.EDU X 1973 MI CRANBROOK PROVIDES EXCELLENT EDUCATIONAL PROGRAMS SERVING DIVERSE AUDIENCES IN AN ENVIRONMENT THAT INSPIRES CREATIVITY, EXPERIMENTATION AND LEARNING. 31 30 1167 186 0 -92579 7719156 12309954 44515929 45978073 6034255 8485767 3060223 2044726 61329563 68818520 1352900 1485173 0 0 39382194 40642900 0 0 1559378 40458266 29056116 81193360 71184189 -19863797 -2365669 427254830 436878147 127455702 118659278 299799128 318218869 X CRANBROOK PROVIDES EXCELLENT EDUCATIONAL PROGRAMS SERVING DIVERSE AUDIENCES IN AN ENVIRONMENT THAT INSPIRES CREATIVITY, EXPERIMENTATION AND LEARNING. 0 0 44295988 1332673 40971279 CRANBROOK SCHOOLS IS AN EDUCATIONAL INSTITUTION WITH FALL 2012 ENROLLMENT OF 1,666 STUDENTS IN PRE K-12TH GRADE. INCLUDED IN THE COST OF OPERATION ARE DORMITORIES, DINING HALLS AND SUMMER PROGRAMS. 7751393 152500 4042916 CRANBROOK ACADEMY OF ART IS A GRADUATE SCHOOL OF FINE ARTS AND ARCHITECTURE WITH FALL 2012 ENROLLMENT OF 155 STUDENTS. CRANBROOK ART MUSEUM IS A CONTEMPORARY ART MUSEUM OFFERING CHANGING EXHIBITIONS AND PROGRAMMING. 4045749 963878 CRANBROOK INSTITUTE OF SCIENCE IS A NATURAL SCIENCE MUSEUM OPEN TO THE PUBLIC WHICH HAD APPROXIMATELY 167,556 VISITORS IN FISCAL YEAR 2012/2013. 5378726 CRANBROOK HOUSE AND GARDENS AUXILIARY - FUNDS ARE RAISED AND EXPENDED FOR THE PRESERVATION OF CRANBROOK HOUSE AND GARDENS, A NATIONAL HISTORIC LANDMARK, AS WELL AS TOURS AND EDUCATIONAL PROGRAMS. HOLDINGS IN THE CRANBROOK ARCHIVES INCLUDE ARCHITECTURAL RECORD, PHOTOGRAPHIC IMAGES, AUDIO-VISUAL MATERIALS, ORAL HISTORIES AND PUBLICATIONS RELEVANT TO ALL ASPECTS OF CRANBROOK'S RICH HISTORY. 5378726 61471856 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 0 0 1 211 0 1 1167 1 1 1 0 0 0 0 1 1 0 0 0 0 X 31 30 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X PAM RUTHVENCFO 2486453110 PO BOX 801 BLOOMFIELD HILLS MI 483030801 BRUCE D PETERSON 8.00 X 0 0 0 STEPHEN R POLK 1.00 X 0 0 0 WARREN ROSE 1.00 X 0 0 0 JEFFREY A HARRIS 1.00 X 0 0 0 ARNOLD JACOB 1.00 X 0 0 0 ADELE ACHESON 1.00 X 0 0 0 MICHAEL H ACHESON 1.00 X 0 0 0 FREDERICK BLACKMON 1.00 X 0 0 0 JONATHAN BORENSTEIN 1.00 X 0 0 0 LYNDA CHARFOOS 1.00 X 0 0 0 DENISE A DAVID 1.00 X 0 0 0 JOHN M ERB 1.00 X 0 0 0 JAMISON WILLIAMS FALISKI 1.00 X 0 0 0 SUSAN D FEITEN 1.00 X 0 0 0 VIRGINIA B FOX 1.00 X 0 0 0 MAXINE FRANKEL 1.00 X 0 0 0 ERICA WARD GERSON 1.00 X 0 0 0 LINDA H GILLUM 1.00 X 0 0 0 WILLIAM KM GOLDSMITH 1.00 X 0 0 0 EDWARD HAGENLOCKER 1.00 X 0 0 0 JAMES KELLY 1.00 X 0 0 0 BROCK R LANDRY 1.00 X 0 0 0 H ROGER MALI 1.00 X 0 0 0 LISA PAYNE 1.00 X 0 0 0 LLOYD E REUSS 1.00 X 0 0 0 MARK REUSS 1.00 X 0 0 0 ALLAN ROTHFEDER 1.00 X 0 0 0 ROBERT S TAUBMAN 1.00 X 0 0 0 JAMES J VLASIC 1.00 X 0 0 0 RICHARD E WARREN 1.00 X 0 0 0 TOD WILLIAMS 1.00 X 0 0 0 DOMINIC DIMARCO 50.00 X 371335 0 15080 RODERICK SPEARIN 50.00 X 77974 0 1593 PATRICIA CARI 50.00 X 105606 0 9159 REED KROLOFF 50.00 X 217178 0 25474 ARLYCE SEIBERT 50.00 X 336587 0 34400 MICHAEL STAFFORD 50.00 X 187481 0 28480 PAMELA RUTHVEN 50.00 X 199204 0 11467 MARSHA GILMAN 50.00 X 150045 0 12695 ANDREW MILLER III 50.00 X 145469 0 26479 CHARLES T SHAW 50.00 X 135303 0 28069 NORMA JEAN EVANS 40.00 X 129124 0 23296 RICK NAHM 50.00 X 428359 0 34400 2483665 0 250592 25 1 1 0 CHARTWELLS PO BOX 91337 CHICAGO IL 60693 FOOD SERVICE 3967057 TEACHER'S INS AND ANNUITY PO BOX 8500 PHILADELPHIA PA 19178 PENSION 2614402 GOLDMAN SACHS & CO 85 BROAD STREET NEW YORK NY 10087 INVESTMENT SERVICES 2349363 GREAT-WEST TRUST DEPT 1148 DENVER CO 80256 PENSION SERVICES 767272 ETC PROLIANCE ENERGY 800 E SONTERRA BLVD SAN ANTONIO TX 78258 NATURAL GAS SERVICER 714203 33 600824 571497 11137633 1048025 12309954 CRANBROOK SCHOOLS K-12 900099 39449623 39449623 ART ACADEMY TUITION 900099 4042916 4042916 SUMMER PROGRAMS 900099 1521656 1521656 INSTITUTE OF SCIENCE 611600 963878 963878 45978073 1385767 1385767 1023437 991665 31772 31772 31772 71140342 64040342 7100000 7100000 7100000 1424645 600824 1150965 273680 273680 48729 19209 29520 29520 562416 329956 232460 232460 FINANCE CHARGES 900099 393887 393887 AUXILIARY 900099 47582 47582 PROGRAM FEES 900099 25454 25454 1010371 1010371 1477294 68818520 45978073 0 10530493 1485173 1485173 2948954 1314279 1465302 169373 28380071 21327088 6000920 1052063 1715103 1218305 428982 67816 5422471 4160519 1117143 144809 2176301 1589762 497909 88630 54853 2651 52202 172692 172692 12716 12716 1937840 1007470 740594 189776 601944 356868 18725 226351 2111475 1170381 814357 126737 353471 89224 263779 468 6371523 4350195 2020633 695 858859 777906 47586 33367 272029 249037 9660 13332 3690777 3690777 7643488 7643488 695970 7303 688617 50 FOOD SERVICE SCHOOLS 3965343 3860912 45940 58491 MEMBERSHIP DUES 196888 185299 5899 5690 DONATION/AWARD/MEMORIAL 133247 100435 32362 450 ALLOCATION OF SERVICES 0 10205428 -9992029 -213399 -16999 370133 18189 -405321 71184189 61471856 8152955 1559378 32012 39822 9544960 5631232 9063880 9081529 1840747 1421075 596253 471210 1426586 1535363 290147610 105094150 187901627 185053460 112522375 117541563 103131390 114907893 1195000 1195000 427254830 436878147 26096245 18416781 15601607 17003717 85330000 83080000 427850 158780 127455702 118659278 X 210071394 224540764 35284384 37810072 54443350 55868033 299799128 318218869 427254830 436878147 X -2365669 13939537 -738589 7584462 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 1 207909222 3231979 20974221 11432205 -148803 220832020 215775390 2915474 62672 11284633 -440319 207909222 181178000 9692086 32183200 7133290 144606 215775390 168388552 2095228 20073157 10051800 -672863 181178000 236966944 5676615 -54883285 15322603 4049119 168388552 0.64000 0.24000 0.12000 0 0 7869942 7869942 80073800 34447243 45626557 178280797 51004937 127275860 18109418 16413142 1696276 5813653 3228828 2584825 185053460 DOMESTIC PRIVATE EQUITY 26699699 F INTERNATIONAL PROVIATE EQUITY 8715425 F ABSOLUTE RETURN HEDGE FUND 31937570 F LONG SHORT HEDGE FUND 19856654 F VENTURE CAPITAL 11031903 F NATURAL RESOURCES, ENERGY PROGRAMS 9114980 F REAL ESTATE 1422510 F REIT 6129152 F 114907893 CAPITAL LEASES PAYABLE 158780 158780 X 84511263 13939537 2491795 16431332 68079931 738589 738589 68818520 66091522 -5092667 -5092667 71184189 0 71184189 PART III, LINE 1A: IN ACCORDANCE WITH GENERALLY ACCEPTED PRACTICES OF SIMILAR INSTITUTIONS, ARCHIVAL ITEMS AND COLLECTIONS PURCHASED AND DONATED ARE NOT RECORDED IN THE STATEMENT OF FINANCIAL POSITION. PART III, LINE 4: AS THE COMMUNITY'S OFFICIAL ARCHIVAL REPOSITORY, THE ARCHIVES DEPARTMENT COLLECTS, PRESERVES, AND MAKES AVAILABLE COMMUNITY AND DIVISIONAL RECORDS OF PERMANENT VALUE, THE PAPERS OF MEMBERS OF THE BOOTH, SCRIPPS, AND SAARINEN FAMILIES, THE RECORDS OF THE CHRIST CHURCH CRANBROOK AND OTHER ANCILLARY ORGANIZATIONS, AND THE PERSONAL PAPERS OF FACULTY, STAFF, ALUMNI AND OTHER INDIVIDUALS WHO HAVE BEEN ASSOCIATED WITH THE COMMUNITY SINCE 1904. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY CEC AND HAS CONCLUDED THAT AS OF JUNE 30, 2013 AND 2012, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. CEC IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE CURRENTLY ARE NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES CEC IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2009. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 991,665. DIRECT EXPENSES - FUNDRAISING 1,150,965. DIRECT EXPENSES - GAMING 19,209. COST OF SALES 329,956. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 991,665. DIRECT EXPENSES - FUNDRAISING 1,150,965. DIRECT EXPENSES - GAMING 19,209. COST OF SALES 329,956. MARKET VALUATION ADJUSTMENT OF INTEREST RATE SWAP -7,454,462. LEGAL CLAIM RESERVE ADJUSTMENT -130,000. 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 POLICY IS PRINTED ON ALL ADMISSION MATERIAL AND ALSO PRINTED ON ADVERTISEMENTS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 CRANBROOK RECEIVES GRANTS FROM FEDERAL AND STATE GOVERNMENTAL AGENCIES. CENTRAL AMERICA AND THE CARIBBEAN - 0 0 INVESTMENT 3253780 0 0 0 0 0 0 3253780 0 3253780 1 0 0 0 1 0 KALEIDOSCOPE 568590 312524 256066 45166 55879 60106 6612 59491 SCRIP 778176 778176 703671 15 678703 288300 390403 36829 72269 10084 100858 2025469 600824 1424645 45166 92708 132375 16696 864020 1150965 273680 48729 18704 505 1 0.75000 48729 18704 505 19209 29520 MI 1 0 1 0 1.00000 RITA STEDMAN PO BOX 801 BLOOMFIELD HILLS MI 483030801 0 RITA STEDMAN RECORDKEEPING X 0 1 FINANCIAL AID NEED BASED - SCHOOLS 425 1332673 MERIT-BASED INSTITUTIONAL - CAA 28 26253 FINANCIAL AID NEED BASED - CAA 24 126247 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: TO RECEIVE GRANTS AND OTHER ASSISTANCE FROM CRANBROOK EDUCATIONAL COMMUNITY ALL CANDIDATES MUST DEMONSTRATE FINANCIAL NEED TO THE FINANCIAL AID COMMITTEE BASED ON AN ANALYSIS OF THE REQUIRED DOCUMENTATION. THE REQUIRED DOCUMENTATION IS (1) PARENTS' FINANCIAL STATEMENT (PFS) COMPLETED THROUGH WWW.NAIS.ORG, (2) INCOME VERIFICATION BY CURRENT W-2'S, END OF YEAR PAY STUBS, EMPLOYER LETTER VERIFYING INCOME, (3) SIGNED COPY OF IRS FORM 4506, (4) SIGNED COPY OF CURRENT YEAR FEDERAL TAX RETURN INCLUDING ALL SCHEDULES, (5) FINANCIAL AID APPLICATION SUBMITTED TO THE SCHOOL. AID PACKAGES ARE REVIEWED ANNUALLY ON THE BASIS OF THE FAMILY'S CURRENT FINANCIAL STATUS. AID AT CRANBROOK SCHOOLS IS DISTRIBUTED WITHOUT REGARD TO RACE, RELIGION OR ETHNIC BACKGROUND. ALL RECIPIENTS ARE EXPECTED TO DEMONSTRATE DILIGENCE IN THEIR ACADEMIC SUBJECTS, MAINTAIN ACCEPTABLE CITIZENSHIP STANDARDS, AND CONTRIBUTE POSITIVELY TO THE SCHOOL COMMUNITY. REQUIRED DOCUMENTATION FOR CRANBROOK ART ACADEMY IS A TIMELY FILED FAFSA THROUGH THE GOVERNMENT, AFTER COMPLETION A SAR IS RECEIVED ELECTRONICALLY AT THE SCHOOL. ALSO, A COPY OF A SIGNED FEDERAL TAX RETURN IS REQUIRED. ASSISTANCE IS BASED UPON THE APPLICANT'S TIMELY APPLICATION AND DEMONSTRATED FINANCIAL NEED. ALL ASSISTANCE IS DETERMINED THROUGH THE REGISTER'S OFFICE AT THE ART ACADEMY. X 1 1 X X X 0 0 0 0 0 0 0 0 0 DOMINIC DIMARCO 347335 0 0 0 24000 0 13052 0 2028 0 386415 0 0 0 REED KROLOFF 217178 0 0 0 0 0 17482 0 7992 0 242652 0 0 0 ARLYCE SEIBERT 336587 0 0 0 0 0 20000 0 14400 0 370987 0 0 0 MICHAEL STAFFORD 187481 0 0 0 0 0 11404 0 17076 0 215961 0 0 0 PAMELA RUTHVEN 199204 0 0 0 0 0 9631 0 1836 0 210671 0 0 0 MARSHA GILMAN 150045 0 0 0 0 0 11483 0 1212 0 162740 0 0 0 ANDREW MILLER III 145469 0 0 0 0 0 9655 0 16824 0 171948 0 0 0 CHARLES T SHAW 135303 0 0 0 0 0 11173 0 16896 0 163372 0 0 0 NORMA JEAN EVANS 129124 0 0 0 0 0 9410 0 13886 0 152420 0 0 0 RICK NAHM 404359 0 0 0 24000 0 20000 0 14400 0 462759 0 0 0 PART I, LINE 1A THE PRESIDENT RECEIVES A HOUSING ALLOWANCE AS HE IS REQUIRED TO LIVE IN THE CITY OF BLOOMFIELD HILLS. THE DIRECTOR OF THE ART ACADEMY AND THE DIRECTOR OF SCHOOLS ARE PROVIDED A HOUSE ON CAMPUS AS RESIDENCY IS A REQUIREMENT OF THEIR POSITIONS. THE PRESIDENT'S HOUSING ALLOWANCE IS APPROPRIATELY INCLUDED IN HIS FORM W-2. A ECONOMIC DEVELOPMENT CORP OF OAKLAND COUNTY 383442443 672523GN1 2009-10-05 18599313 SEE PART VI 0 0 0 B ECONOMIC DEVELOPMENT CORP OF OAKLAND COUNTY 383442443 672523GD3 2007-11-01 46390000 SEE PART VI 0 0 0 C ECONOMIC DEVELOPMENT CORP OF OAKLAND COUNTY 383442443 2010-10-01 26515000 SEE PART VI 0 0 0 A 18599313 370346 18228967 2009 0 1 1 1 B 8250000 46390000 970649 436000 38780184 2009 1 0 1 1 C 26515000 101443 199000 24898557 1316000 2011 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 0 B 0 0 1 0 1 1 GOLDMAN SACHS MITS 30.000000000000 0 0 1 ROYAL BANK OF CANADA 12.000000000000 1 0 0 C 0 1 0 0 1 1 GOLDMAN SACHS MITS 30.000000000000 0 0 0 0 0 A 1 B 1 C 1 PART I, LINE A, COLUMN F: $18,599,313 ($18,425,000 PRINCIPAL) SERIES 2009 VARIABLE RATE BONDS WERE ISSUED TO BENEFIT CRANBROOK EDUCATIONAL COMMUNITY, AND TO PAY THE COSTS OF ISSUING THE BONDS. THE $46,390,000 SERIES 2007 VARIABLE RATE BONDS WERE RESTRUCTURED IN 2009 VIA THE ISSUANCE OF SERIES 2009 VARIABLE RATE BONDS WHICH ARE SUPPORTED BY A JP MORGAN CHASE BANK LETTER OF CREDIT. PROCEEDS FROM THE ORIGINAL 2007 ISSUE WERE USED TO REFUND THE SERIES 1997A AND 2001 BONDS, PAY ISSUANCE COSTS, AND TO COMPLETE CERTAIN CAPITAL PROJECTS (BOYS MIDDLE SCHOOL CONSTRUCTION, KINGSWOOD ROOF, IT INFRASTRUCTURE, ETC.) THE $26,515,000 SERIES 2010 VARIABLE RATE BONDS WERE ISSUED TO FINANCE CAPITAL IMPROVEMENT PROJECTS AND TO PAY ISSUANCE COSTS. THE BONDS WERE SOLD IN A PRIVATE PLACEMENT AS BANK QUALIFIED BONDS (AS DESCRIBED IN SECTION 265(B)(3)(B) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED). DTE ENERGY BRUCE PETERSON, TRUSTEE, IS AN OFFICER OF DTE ENERGY 1107917 ELECTRIC SERVICE 0 X 12209 COST X 11240 COST X 32 730767 AVG MARKET VALUATION X AUCTION ITEMS 623 302669 COST X GIFT CARDS 128 4480 COST X FUNDRAISING ITEMS 156 37503 COST X MUSICAL INSTRUMENT 4 11512 COST 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 ADELE ACHESON AND MICHAEL ACHESON, BOTH TRUSTEES OF THE ORGANIZATION, HAVE A FAMILY RELATIONSHIP WITH ONE ANOTHER. ROBERT TAUBMAN, DENISE DAVID AND LISA PAYNE, ALL TRUSTEES OF THE ORGANIZATION, HAVE A BUSINESS RELATIONSHIP WITH ONE ANOTHER. LLOYD REUSS AND MARK REUSS, BOTH TRUSTEES OF THE ORGANIZATION, HAVE A FAMILY RELATIONSHIP WITH ONE ANOTHER. FORM 990, PART VI, SECTION A, LINE 6 CRANBROOK EDUCATIONAL COMMUNITY HAS THREE DIVISIONS OF THE ORGANIZATION, CRANBROOK SCHOOLS, CRANBROOK ART ACADEMY AND CRANBROOK INSTITUTE OF SCIENCE, WHICH EACH HAVE A BOARD OF GOVERNORS. THESE BOARD OF GOVERNORS ARE THE MEMBERS OF THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7A UP TO SIX TRUSTEES OF CRANBROOK EDUCATIONAL COMMUNITY SHALL BE ELECTED BY THE CRANBROOK SCHOOLS MEMBERS, UP TO FOUR TRUSTEES SHALL BE ELECTED BY THE CRANBROOK ART MEMBERS AND UP TO FOUR TRUSTEES SHALL BE ELECTED BY THE CRANBROOK SCIENCE MEMBERS, NONE OF WHICH TRUSTEES NEED TO BE MEMBERS OF THE ORGANIZATION OR ITS THREE DIVISIONS. THE CHAIRMAN OF THE BOARD OF GOVERNORS OF CRANBROOK SCHOOLS, THE CHAIRMAN OF THE BOARD OF GOVERNORS OF THE CRANBROOK ART ACADEMY, AND THE CHAIRMAN OF THE BOARD OF GOVERNORS OF THE CRANBROOK INSTITUTE OF SCIENCE, AS ELECTED BY THE RESPECTIVE BOARDS OF GOVERNORS FROM TIME TO TIME PURSUANT TO THE ORGANIZATION'S BYLAWS, SHALL ALL BE EX OFFICIO MEMBERS OF THE BOARD OF TRUSTEES WITH FULL VOTING AND OTHER RIGHTS, FOR SO LONG AS EACH OF THEM REMAINS CHAIRMAN, AND SHALL THEREAFTER BE REPLACED AS TRUSTEES BY THEIR SUCCESSORS IN SUCH CHAIRMANSHIP POSITIONS. FORM 990, PART VI, SECTION B, LINE 11 THE INITIAL REVIEW OF THE 990 IS DONE BY THE CHIEF FINANCIAL OFFICER, THE CHIEF OPERATING OFFICER AND THE PRESIDENT AND THE INDEPENDENT AUDITORS. THE 990 IS REVIEWED BY THE CHAIR OF THE BOARD OF TRUSTEES AND A MEMBER OF THE AUDIT COMMITTEE. PRIOR TO FILING, THE 990 IS MADE AVAILABLE TO ALL MEMBERS OF THE BOARD OF TRUSTEES FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C A FORMAL WRITTEN CONFLICT OF INTEREST POLICY IS SENT OUT ANNUALLY TO OFFICERS, DIRECTORS/TRUSTEES AND KEY EMPLOYEES FOR THEIR COMPLETION, AND MUST BE SIGNED AND RETURNED TO CRANBROOK EDUCATIONAL COMMUNITY. FORM 990, PART VI, SECTION B, LINE 15 THE CHAIR OF THE BOARD OF TRUSTEES, IN CONJUNCTION WITH OTHER TRUSTEES, DETERMINES SALARIES USING INFORMATION PREPARED BY THE HUMAN RESOURCE DEPARTMENT FOR COMPARABLE SALARIES WITH PEER INSTITUTIONS. FORM 990, PART VI, SECTION C, LINE 19 THE FOLLOWING DOCUMENTS ARE AVAILABLE UPON REQUEST: AUDITED CONSOLIDATED FINANCIAL STATEMENTS AND CRANBROOK LEADERSHIP HANDBOOK. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: MARKET VALUATION ADJUSTMENT OF INTEREST RATE SWAP 7,454,462. LEGAL CLAIM RESERVE ADJUSTMENT 130,000. FORM 990, PART XII, LINE 2C: THE ORGANIZATION'S AUDIT COMMITTEE OVERSEES THE AUDIT. THIS PROCESS HAS NOT CHANGED FROM THE PREVIOUS YEAR. ELLEN F PRICE CHARITABLE REMAINDER UNITRUST DTD 101207 C/O JACKIER GOULD 121 W LONG LAKE S BLOOMFIELD HILLS MI 48304 CHARITABLE REMAINDER TRUST MI N/A T 364718 0.52760 0 MADELINE M SLOAN CHARITABLE REMAINDER UNITRUST UDA 091297 C/O NORTHERN TRUST 10 W LONG LAKE BLOOMFIELD HILLS MI 48304 383372675 CHARITABLE REMAINDER TRUST MI N/A T 163746 0.76700 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0