2014-05-14T19:00:21-05:00 2013-06-30 CROWE HORWATH LLP 9600 Brownsboro Road Suite 400 Louisville KY 402411122 990 2012-07-01 610444671 CENTRE COLLEGE CENT 8592385451 600 West Walnut Street Danville KY 40422 ROBERT L KEASLER 2014-05-12 true Rachel Spurlock P00520729 5023263996 2012 2015-11-30 17:44:51Z DR JOHN A ROUSH 600 West Walnut Street Danville KY 40422 106084592 false X WWW.CENTRE.EDU X 1819 KY CENTRE COLLEGE IS AN EDUCATIONAL COMMUNITY DEDICATED TO STUDY IN THE LIBERAL ARTS AS A MEANS TO DEVELOP THE INTELLECTUAL, PERSONAL, AND MORAL POTENTIAL OF ITS STUDENTS. 39 39 1403 40 -9985 -9985 7908784 18621685 56772401 59759655 7451536 10318312 161373 473129 72294094 89172781 21570118 23399274 0 0 24438106 25674976 0 0 1789094 30996015 33291572 77004239 82365822 -4710145 6806959 350484784 377275722 105724709 99032389 244760075 278243333 X CENTRE COLLEGE IS A SMALL, INDEPENDENT, AND SELECTIVE EDUCATIONAL COMMUNITY DEDICATED TO STUDY IN THE LIBERAL ARTS AS A MEANS TO DEVELOP THE INTELLECTUAL, PERSONAL, AND MORAL POTENTIAL OF ITS STUDENTS. (CONTINUED IN SCHEDULE O) false false 64151772 23399274 60232784 FOUNDED IN 1819, THE SOLE MISSION OF CENTRE, A NATIONALLY RANKED RESIDENTIAL CO-ED PRIVATE LIBERAL ARTS COLLEGE, IS TO PROVIDE EXCEPTIONAL POST-SECONDARY UNDERGRADUATE EDUCATION TO ITS STUDENTS. WE GUARANTEE THE OPPORTUNITY TO STUDY ABROAD, TO HAVE AN INTERNSHIP, AND TO GRADUATE IN FOUR YEARS. TO DEVELOP A GLOBAL PERSPECTIVE ABOUT 85 PERCENT OF OUR STUDENTS STUDY ABROAD, WITH CENTRE PROFESSORS, AT LEAST ONCE. COUPLED WITH SMALL CLASSES, HIGH GRADUATION RATES, ENGAGED PROFESSORS, AND REAL-WORLD PREPARATION FOR CAREER, GRADUATES ENJOY A HIGH SUCCESS RATE FOR EMPLOYMENT OR GRADUATE DEGREE ACCEPTANCE. 64151772 true true false false false false true false true true true false true true true true false true true true false true false false false false false true true true false false false false false false false false true false true false false false false true false false false false true 1715 0 true 1403 true true true true FR UK false false false false false false false false X 39 39 true false false false false false false true true false false true true true true true true true false false X Scott Owens 8592385457 600 West Walnut Street Danville KY 40422 JAMES D ROUSE 1.00 X X 0 0 0 RANDAL B KELL 1.00 X X 0 0 0 ROBERT T BROCKMAN 1.00 X X 0 0 0 ANGIE MCDONALD-HACKETT 1.00 X 0 0 0 ANITA M BRITTON 1.00 X 0 0 0 BARB EMLER 1.00 X 0 0 0 CRAIG W JOHNSON 1.00 X 0 0 0 CRIT LUALLEN 1.00 X 0 0 0 DARYLL W MARTIN 1.00 X 0 0 0 DAVIS L MARKSBURY 1.00 X 0 0 0 EDDY ROBERTS JR 1.00 X 0 0 0 ELIZABETH T KENNAN 1.00 X 0 0 0 G WATTS HUMPHREY 1.00 X 0 0 0 GEORGE W PRIVETT JR 1.00 X 0 0 0 GREG W CAUDILL 1.00 X 0 0 0 J DAVID GRISSOM 1.00 X 0 0 0 JAMES A SMITH 1.00 X 0 0 0 JAMES C SEABURY III 1.00 X 0 0 0 JAMES H EVANS 1.00 X 0 0 0 JAMES L ROGERS III 1.00 X 0 0 0 JANE L STEVENSON 1.00 X 0 0 0 JOANNE K DUNCAN 1.00 X 0 0 0 JOHN H NEWMAN 1.00 X 0 0 0 JOHN R BARTON 1.00 X 0 0 0 JOSEPH H PATTERSON 1.00 X 0 0 0 KENNETH J MARDICK 1.00 X 0 0 0 KEVIN D TAYLOR 1.00 X 0 0 0 LEA STROMIRE JOHNSON 1.00 X 0 0 0 MARGARET A STROUP 1.00 X 0 0 0 MARK E NUNNELLY 1.00 X 0 0 0 MARY H GRIFFITH 1.00 X 0 0 0 NELSON D RODES JR 1.00 X 0 0 0 PAUL W CHELLGREN 1.00 X 0 0 0 PEGGY P PATTERSON 1.00 X 0 0 0 PIERCE LIVELY 1.00 X 0 0 0 ROBERT L ELLIOTT 1.00 X 0 0 0 RUTHERFORD B CAMPBELL 1.00 X 0 0 0 SHEILA A BURKS 1.00 X 0 0 0 THOMAS H MEEKER 1.00 X 0 0 0 THOMAS R BAEKER 1.00 X 0 0 0 WILLIAM S BOWMER III 1.00 X 0 0 0 JOHN A ROUSH 50.00 X 288283 0 35131 RICHARD W TROLLINGER 50.00 X 169960 0 27211 ROBERT L KEASLER 50.00 X 79113 0 11512 STEPHANIE L FABRITIUS 50.00 X 159255 0 24161 W RANDY HAYS 50.00 X 96102 0 15694 ARTHUR L MOORE 50.00 X 101404 0 21251 CLARENCE R WYATT 50.00 X 101381 0 20289 JAMES P LEAHEY 50.00 X 106855 0 23199 MILTON M REIGELMAN 50.00 X 118657 0 17062 STEVEN A HOFFMAN 50.00 X 109967 0 19687 JOHN E CUNY 50.00 X 126621 0 24441 1457598 0 239638 12 false true false SODEXO INC AFFILIATES PO BOX 70060 CHICAGO IL 60673 FOOD SERVICE 3521068 ARCO NATIONAL CONSTRUCTION CO INC 1750 SOUTH BRENTWOOD BLVD ST LOUIS MO 63144 GENERAL CONTRACTOR 1096528 MCCOY CONSTRUCTION CO INC 101 THOROUGHBRED DR DANVILLE KY 40422 CONTRACTOR 544151 RICOH USA INC PO BOX 534777 ATLANTA GA 30353 PRINTING CENTER & SOLUTIONS 340876 EBSCO PO BOX 830625 BIRMINGHAM AL 35283 LIBRARY SUBSCRIPTION SERVICES 238094 26 0 0 0 0 284551 18337134 327951 18621685 COMPREHENSIVE FEE 611710 58433209 58433209 AUXILIARY SERVICES 611710 1224797 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false 11698012 11698012 143217938 50239676 92978262 0 0 23888536 19366770 4521766 109198040 0 0 PRIVATE EQUITY SECURITIES 64265171 F ALTERNATIVE EQUITY STRATEGIES 27663690 F LARGE CAP EQUITIES 29049800 F SMALL CAP EQUITIES 21032745 F NOTES RECEIVABLE AND OTHER 1584366 F 143595772 FUNDS HELD IN TRUST BY OTHERS 26534799 OTHER RECEIVABLES 80857 26615656 0 ANNUITY PAYMENT & LIFE INCOME OBLIGATIONS 811558 ADVANCES FROM FEDERAL GOVT. FOR STUDENT LOANS 660448 FV ADJUSTMENT IN INTEREST RATE SWAPS 7184714 8656720 X 91114040 26804492 0 26804492 64309548 1335766 23527467 24863233 89172781 57630782 0 0 57630782 1335766 23399274 24735040 82365822 Collections of art - description of collections Schedule D, Part III, Line 4 A MIX OF PAINTINGS, GLASS, AND SCULPTURE, THE ART COLLECTION EXISTS PRIMARILY TO HELP FULFILL THE LIBERAL ARTS EDUCATION MISSION OF THE COLLEGE. MANY, BUT NOT ALL, PIECES ARE DISPLAYED THROUGHOUT CAMPUS FOR VIEWING BY THE CAMPUS COMMUNITY AND VISITORS. Intended uses of endowment funds Schedule D, Part V, Line 4 CENTRE'S ENDOWMENT IS USED EXCLUSIVELY TO PARTIALLY FUND THE MISSION OF THE COLLEGE, INCLUDING, BUT NOT LIMITED TO, STUDENT SCHOLARSHIP, OPERATIONS, AND DEBT RETIREMENT. FIN 48 (ASC 740) footnote Schedule D, Part X, Line 2 THE COLLEGE OPERATES AS A NONPROFIT CORPORATION AND IS EXEMPT FROM INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). ADDITIONALLY, THE COLLEGE FOLLOWS ACCOUNTING STANDARDS APPLICABLE TO UNCERTAIN TAX POSITIONS. A TAX POSITION IS RECOGNIZED AS A BENEFIT ONLY IF IT IS "MORE LIKELY THAN NOT" THAT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE "MORE LIKELY THAN NOT" TEST, NO TAX BENEFIT WILL BE RECORDED. THE COLLEGE WOULD RECOGNIZE INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST AND INCOME TAX EXPENSE, RESPECTIVELY. THE COLLEGE RECOGNIZED AND ACCRUED NO AMOUNTS FOR INTEREST AND PENALTIES AS OF JUNE 30, 2013 OR 2012 OR FOR THE YEARS THEN ENDED. AS OF JUNE 30, 2013 AND 2012, THERE WERE NO UNCERTAIN TAX POSITIONS IDENTIFIED. MANAGEMENT DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS TO CHANGE SIGNIFICANTLY IN THE NEXT 12 MONTHS. FORMS 990 AND 990-T FILED BY THE COLLEGE ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS) FOR UP TO THREE YEARS FROM THE EXTENDED DUE DATE OF EACH RETURN. MANAGEMENT BELIEVES FORMS 990 AND 900-T HAVE BEEN FILED APPROPRIATELY. FORMS 990 AND 990-T FILED BY THE COLLEGE ARE NO LONGER SUBJECT TO EXAMINATION FOR THE FISCAL YEARS ENDED JUNE 30, 2009 AND PRIOR. Other revenues in form 990 not in audited financial statements Schedule D, Part XI, Line 4b FINANCIAL AID AND SCHOLARSHIPS - 23399274; ACTUARIAL LIABILITY FOR ANNUITY OBLIGATIONS - 128193; Other expenses in form 990 not in audited financial statements Schedule D, Part XII, Line 4b FINANCIAL AID AND SCHOLARSHIPS - 23399274; true true true true true true true false false false false false false false false true false true Racially nondiscriminatory policy Schedule E, Part I, Line 3 IN ADDITION TO THE EQUAL OPPORTUNITY EMPLOYER NOTICE THAT APPEARS WITH ALL OF CENTRE'S EMPLOYMENT ADS, THE COLLEGE HAS AN OFFICIAL NONDISCRIMINATION STATEMENT THAT IS REPRINTED IN MAJOR PUBLICATIONS SUCH AS OUR INTRODUCTION-TO-THE-COLLEGE BROCHURE, THE ADMISSION VIEWBOOK, AND THE CATALOG. THE STATEMENT ALSO APPEARS ON THE COLLEGE'S WEB SITE. Financial aid or assistance from a governmental agency Schedule E, Part I, Line 6a CENTRE COLLEGE RECEIVES ASSISTANCE FROM THE FEDERAL STUDENT AID PROGRAM TO FUND THE COST OF ATTENDANCE FOR ELIGABLE STUDENTS. THESE PROGRAMS INCLUDE PELL, WORK STUDY, PERKINS, FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANTS AND STAFFORD LOANS. FEDERAL ASSISTANCE FROM OTHER SOURCES INCLUDE THE DEPARTMENT OF EDUCATION, NATIONAL AERONAUTICS AND SPACE ADMINISTRATION, NATIONAL SCIENCE FOUNDATION, NATIONAL INSTITUE OF HEALTH, AND DEPARTMENT OF COMMERCE. EUROPE (INCLUDING ICELAND AND GREENLAND) 1 PROGRAM SERVICES SEMESTER STUDY ABROAD 732566 CENTRAL AMERICA AND THE CARIBBEAN 1 PROGRAM SERVICES SEMESTER STUDY ABROAD 167917 EUROPE (INCLUDING ICELAND AND GREENLAND) PROGRAM SERVICES SCHOLARSHIPS 986737 NORTH AMERICA (CANADA & MEXICO ONLY) PROGRAM SERVICES SCHOLARSHIPS 164000 EAST ASIA AND THE PACIFIC PROGRAM SERVICES SCHOLARSHIPS 71100 CENTRAL AMERICA AND THE CARIBBEAN INVESTMENTS 27664000 EAST ASIA AND THE PACIFIC PROGRAM SERVICES SEMESTER STUDY ABROAD 40726 2 29827046 SCHOLARSHIP EAST ASIA AND THE PACIFIC 7 71100 CREDIT 0 SCHOLARSHIP NORTH AMERICA (CANADA & MEXICO ONLY) 20 164000 CREDIT 0 SCHOLARSHIP EUROPE (INCLUDING ICELAND AND GREENLAND) 105 986737 CREDIT 0 true false true true true false Method used to account for expenditures on organization's financial statements Schedule F, Part I, Line 3 CENTRAL AMERICA AND THE CARIBBEAN: ACCRUAL EAST ASIA AND THE PACIFIC: ACCRUAL EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL NORTH AMERICA (CANADA & MEXICO ONLY): ACCRUAL Method used to account for grants on organization's financial statements Schedule F, Part III EAST ASIA AND THE PACIFIC: ACCRUAL EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL NORTH AMERICA (CANADA & MEXICO ONLY): ACCRUAL Method used to account for expenditures on organization's financial statements Schedule F, Part I, Line 3 CENTRAL AMERICA AND THE CARIBBEAN: ACCRUAL EAST ASIA AND THE PACIFIC: ACCRUAL EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL NORTH AMERICA (CANADA & MEXICO ONLY): ACCRUAL Method used to account for grants on organization's financial statements Schedule F, Part III EAST ASIA AND THE PACIFIC: ACCRUAL EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL NORTH AMERICA (CANADA & MEXICO ONLY): ACCRUAL true INSTITUTIONAL SCHOLARSHIPS 1276 22177437 0 N/A N/A Procedures for monitoring use of grant funds Schedule I, Part I, Line 2 ALL STUDENT SCHOLARSHIPS, GRANTS, OR OTHER ASSISTANCE ARE MONITORED THROUGHOUT THE AWARD, ACCEPTANCE, AND APPLICATION PROCESSES. APPROPRIATE RECORDS ARE MAINTAINED AND DOCUMENTED. X X X true true X X X X false false false false false false false false false JOHN A ROUSH 238770 0 48059 0 1454 0 25000 0 10131 0 323414 0 0 0 JOHN E CUNY 108862 0 16113 0 1646 0 11709 0 12732 0 151062 0 0 0 RICHARD W TROLLINGER 152232 0 16247 0 1481 0 15904 0 11307 0 197171 0 0 0 STEPHANIE L FABRITIUS 143798 0 14988 0 469 0 14633 0 9528 0 183416 0 0 0 Travel for companions Schedule J, Part I, Line 1a AT TIMES SPOUSES ARE EXPECTED TO ACCOMPANY INTERESTED PERSONS ON BUSINESS TRIPS. ANY AMOUNTS DEEMED TO BE PERSONAL IN NATURE ARE TREATED AS TAXABLE COMPENSATION. Housing allowance or residence for personal use Schedule J, Part I, Line 1a JOHN ROUSH, PRESIDENT, STEPHANIE FABRITIUS, DEAN, AND ROBERT KEASLER, VP FINANCE & TREASURER ARE REQUIRED TO RESIDE IN ON-CAMPUS HOUSING PER THEIR EMPLOYMENT AGREEMENT. EXEMPT UNDER IRC 119. Health or social club dues or initiation fees Schedule J, Part I, Line 1a THE COLLEGE PURCHASED A MEMBERSHIP IN THE LOCAL COUNTRY CLUB IN THE PRESIDENT'S NAME TO GAIN ACCESS TO THE FACILITIES FOR OCCASIONAL BUSINESS PURPOSES. THE USE IS 100% BUSINESS AND NOT CONSIDERED TO BE TAXABLE COMPENSATION. A COUNTY OF BOYLE KENTUCKY 616000756 103462BA4 2007-08-30 44156380 NEW CONSTRUCTION AND ADVANCED REFUNDING. 2007-1 false false false B COUNTY OF BOYLE KENTUCKY 616000756 103462BD8 2008-04-24 34385000 CURRENT REFUNDING. false false false A 1536380 0 44499416 0 0 0 334422 398632 0 12576750 31189612 0 2009 false true true true B 0 0 35675876 0 0 0 233242 101758 0 0 35340876 0 2010 true false true true A false false false false false false 0.00000 0.00000 0.00000 false false 0 false false B false false true false false false 0.00000 0.00000 0.00000 false false 0 false false A false false true false false false 0.0 false false false 0.0 false false false B false false true false true true SEE PART V 0 false false false 0.0 false false false A false B false TOTAL PROCEEDS OF ISSUES - 2007 BOND SCHEDULE K, PART II, LINE 3 THE DIFFERENCE BETWEEN PART I(E)A ISSUE PRICE AND PART II, LINE 3A TOTAL PROCEEDS OF $343,036 IS THE RESULT OF INVESTMENTS EARNINGS. TOTAL PROCCEDS OF ISSUES - 2008 BOND SCHEDULE K, PART II, LINE 3 THE DIFFERENCE BETWEEN PART I(E)B ISSUE PRICE AND PART II, LINE 3B TOTAL PROCEEDS OF $1,209,876 IS THE RESULT OF INVESTMENTS EARNINGS. ESTABLISHMENT OF WRITTEN PROCEDURES SCHEDULE K, PART III, LINE 9 THE ORGANIZATION IS IN THE PROCESS OF ADOPTING WRITTEN PROCEDURES TO ENSURE ALL NONQUALIFIED BONDS (IF ANY) OF THE ISSUE ARE REMEDIATED IN ACCORDANCE WITH THE ASSOCIATED REGULATIONS. THE ORGANIZATION STRIVES TO STAY ABREAST OF FEDERAL REGULATIONS AND CONSIDERS THE REPERCUSSIONS OF ALL SIGNIFICANT ACTIVITIES WHICH COULD FORESEEABLY HAVE AN IMPACT ON THE ORGANIZATION'S TAX EXEMPT BONDS AND THE ASSOCIATED FEDERAL TAX REGULATIONS. EXCEPTION TO REBATE SCHEDULE K, PART IV, LINE 2C ALL BOND PROCEEDS HAVE BEEN SPENT, THEREFORE THE REBATE CALCULATION DOES NOT NEED TO BE PERFORMED. PROVIDERS IDENTIFIED WITH A HEDGE SCHEDULE K, PART IV, LINE 4B UBS 29.7 YEARS PNC 25.3 YEARS ESTABLISHMENT OF WRITTEN PROCEDURES SCHEDULE K, PART IV, LINE 7 THE ORGANIZATION IS IN THE PROCESS OF ADOPTING WRITTEN PROCEDURES TO MONITOR THE ORGANIZATION'S ABILITY TO REMAIN IN COMPLIANCE WITH THE ARBITRAGE REQUIREMENTS UNDER SECTION 148 OF THE INTERNAL REVENUE CODE. THE ORGANIZATION STRIVES TO STAY ABREAST OF FEDERAL REGULATIONS AND CONSIDERS THE REPERCUSSIONS OF ALL SIGNIFICANT ACTIVITIES WHICH COULD FORESEEABLY HAVE AN IMPACT ON THE ORGANIZATION'S TAX EXEMPT BONDS AND THE ASSOCIATED FEDERAL TAX REGULATIONS. PROCEDURES TO UNDERTAKE CORRECTIVE ACTION SCHEDULE K, PART V THE ORGANIZATION IS IN THE PROCESS OF ADOPTING WRITTEN PROCEDURES WHICH DICTATE HOW MANAGEMENT TIMELY IDENTIFIES AND CORRECTS VIOLATIONS OF FEDERAL TAX REQUIREMENTS USING THE VOLUNTARY CLOSING AGREEMENT PROGRAM PROVIDED BY THE IRS WHEN SELF-REMEDIATION IS NOT AVAILABLE TO THE ORGANIZATION. THE ORGANIZATION STRIVES TO STAY ABREAST OF FEDERAL REGULATIONS AND CONSIDERS THE REPERCUSSIONS OF ALL SIGNIFICANT ACTIVITIES WHICH COULD FORESEEABLY HAVE AN IMPACT ON THE ORGANIZATION'S TAX EXEMPT BONDS AND THE ASSOCIATED FEDERAL TAX REGULATIONS. IN THE EVENT A VIOLATION IS IDENTIFIED THE ORGANIZATION'S POLICY IS TO CORRECT THE VIOLATION AS SOON AS POSSIBLE, WHILE WORKING WITH THE FEDERAL AUTHORITIES AS NECESSARY TO ENSURE THAT SUFFICIENT CONTROLS ARE PRESENT WHICH WILL GUARD AGAINST FUTURE VIOLATIONS. ELIZABETH TROLLINGER DAUGHTER OF RICHARD TROLLINGER, OFFICER 21559 COMPENSATION false MIKE FABRITIUS HUSBAND OF STEPHANIE FABRITIUS, OFFICER 86853 COMPENSATION false X 46 327951 MARKET VALUE 0 false true false Number of contributions or items contributed. Schedule M, part I, column (b), Line 9 ORGANIZATION'S MISSION FORM 990, PART III, LINE 1 (CONTINUED FROM PART III) CENTRE NURTURES IN ITS STUDENTS THE ABILITY TO THINK LOGICALLY AND CRITICALLY, TO WORK CREATIVELY, TO ANALYZE AND COMPARE VALUES, AND TO WRITE AND SPEAK WITH CLARITY AND GRACE. IT ACQUAINTS STUDENTS WITH THE RANGE OF ACCOMPLISHMENTS OF THE HUMAN MIND AND SPIRIT IN A VARIETY OF ARTS AND THEORETICAL DISCIPLINES. IT ENABLES STUDENTS TO CHOOSE AND FULFILL SIGNIFICANT RESPONSIBILITIES IN SOCIETY. IN SHORT, CENTRE'S HIGHEST PRIORITY IS TO PREPARE ITS STUDENTS FOR LIVES OF LEARNING, LEADERSHIP, AND SERVICE. Delegate broad authority to a committee Form 990, Part VI, Section A, Line 1a THERE SHALL BE AN EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES APPOINTED EACH YEAR BY THE CHAIR OF THE BOARD, AND APPROVED BY VOTE OF THE BOARD. THE EXECUTIVE COMMITTEE SHALL HAVE ALL THE POWERS OF THE BOARD OF TRUSTEES WHEN THE BOARD IS NOT IN SESSION, EXCEPT THE POWER TO ELECT OR REMOVE THE PRESIDENT OF THE COLLEGE, TO AMEND THE CHARTER AND BYLAWS OF THE COLLEGE, AND TO ELECT NEW TRUSTEES. THE EXECUTIVE COMMITTEE SHALL CONSIST OF NINE OR MORE MEMBERS, INCLUDING THE CHAIR OF THE BOARD, THE VICE CHAIR OF THE BOARD AND THE SECRETARY OF THE BOARD. ANY ACTION OF THE EXECUTIVE COMMITTEE TO BE EFFECTIVE MUST BE AUTHORIZED BY AT LEAST FIVE AFFIRMATIVE VOTES. Family/business relationships amongst interested persons Form 990, Part VI, Section A, Line 2 DAVID GRISSOM - BUSINESS RELATIONSHIP, WATTS HUMPHREY - BUSINESS RELATIONSHIP Review of form 990 by governing body Form 990, Part VI, Section B, Line 11b A DRAFT OF THE FORM 990 AND SUPPLEMENTAL SCHEDULES IS PREPARED BY THE CONTROLLER AND INDEPENDENT ACCOUNTING FIRM. PRIOR TO FILING, A COPY IS PROVIDED TO THE COLLEGE EXECUTIVE OFFICERS AND THE BOARD'S AUDIT COMMITTEE FOR REVIEW BEFORE FILING. A BOARD SUMMARY REPORT WAS PRESENTED ON MAY 9, 2014 TO THE AUDIT COMMITTEE. THE FINAL FORM 990 AND SUPPLEMENTAL SCHEDULES WAS PROVIDED ELECTRONICALLY TO THE BOARD OF TRUSTEES PRIOR TO FILING WITH THE IRS. Conflict of interest policy Form 990, Part VI, Section B, Line 12c ALL TRUSTEES AND OFFICERS ARE SURVEYED ANNUALLY, VIA AN EXTENSIVE QUESTIONNAIRE, TO DISCLOSE A VARIETY OF RELATIONSHIPS WITH EACH OTHER OR DIRECTLY WITH THE COLLEGE. THIS SURVEY IS REVIEWED AND MAINTAINED BY COLLEGE COUNSEL, AND REVIEWED BY BOTH THE VP FINANCE AND THE CONTROLLER. THOSE FOUND TO HAVE A POTENTIAL CONFLICT, OR THE APPEARANCE OF SUCH, DO NOT PARTICIPATE IN FINAL RELATED BUSINESS DISCUSSIONS OR VOTES. Process used to establish compensation of top management official Form 990, Part VI, Section B, Line 15a THE COMPENSATION COMMITTEE, COMPRISED OF THE BOARD CHAIRMAN, BOARD VICE CHAIRMAN, AND FINANCE COMMITTEE CHAIR, DETERMINES AN APPROPRIATE COMPENSATION CONTRACT FOR THE PRESIDENT. AN IMPORTANT TOOL USED IN THEIR DECISION PROCESS IS A COMPARABILITY STUDY CONDUCTED BY AN APPOINTED BOARD COMMITTEE. THE COMMITTEE'S RECOMMENDATION, SUPPORTED BY THE COMPARABILITY STUDY, AN EXPANSIVE REPORT BY THE PRESIDENT ON THE DRIVERS AND GOALS ASSOCIATED WITH HIS WORK, AND OTHER DISCUSSION POINTS, IS PRESENTED TO THE BOARD'S EXECUTIVE COMMITTEE FOR DETAILED REVIEW AND APPROVAL. THE CONTRACT IS SUBSEQUENTLY PRESENTED TO THE FULL BOARD FOR RATIFICATION. WRITTEN DOCUMENTATION OF CONTRACT DISCUSSIONS, APPROVALS, ATTENDANCE, AND ACTION TAKEN ARE MAINTAINED ON CAMPUS BY A NON-BOARD MEMBER. THE PRESIDENT IS CURRENTLY COMPLETING THE THIRD YEAR OF A FOUR-YEAR CONTRACT. Governing documents, conflict of interest policy and financial statements available to the public Form 990, Part VI, Section C, Line 19 AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON OUR WEBSITE. CURRENTLY THE CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE NOT REQUIRED TO BE MADE AVAILABLE BY THE IRS. Other changes in net assets or fund balances Form 990 , Part XI, Line 9 ACTUARIAL LIABILITY FOR ANNUITY OBLIGATIONS - -128193; CHARITABLE REMAINDER TRUSTS (6) CHARITABLE REMAINDER TRUST KY NA TRUST false false false false false false false false false false false false false false false false false false false