2013-02-15T07:14:40-06:00 2012-06-30 Grant Thornton LLP 200 South Orange Avenue Suite 2050 Orlando FL 32801 990 2011-07-01 591237047 Saint Leo University % JEANNE PLECENIK SAIN 3525888215 33701 State Road 52 Saint Leo FL 335746665 Jeanne Plecenik 2013-02-14 true Dawn M Olivardia 4074815100 2011 2016-03-07 17:11:31Z Arthur F Kirk Jr 33701 State Road 52 Saint Leo FL 335746665 185539865 false 0928 X www.saintleo.edu X 1965 FL SAINT LEO UNIVERSITY IS A CATHOLIC, LIBERAL ARTS-BASED UNIVERSITY SERVING PEOPLE OF ALL FAITHS. 36 35 2828 36 11576 -67 3509264 2962205 144881456 157053035 898233 2342670 2508990 2574514 151797943 164932424 13475794 16253201 0 0 63532858 74477240 0 0 2415968 52111585 52199090 129120237 142929531 22677706 22002893 151849882 204209515 44475188 75722758 107374694 128486757 X SAINT LEO UNIVERSITY IS A CATHOLIC, LIBERAL ARTS-BASED UNIVERSITY SERVING PEOPLE OF ALL FAITHS. ROOTED IN THE 1,500-YEAR-OLD BENEDICTINE TRADITION, THE UNIVERSITY SEEKS BALANCED GROWTH IN MIND, BODY AND SPIRIT FOR ALL MEMBERS OF ITS COMMUNITY. ON ITS HOME CAMPUS AND MANY EXTENSION CENTERS, SAINT LEO UNIVERSITY OFFERS A PRACTICAL, EFFECTIVE MODEL FOR LIFE AND LEADERSHIP IN A CHALLENGED WORLD, A MODEL BASED ON STEADFAST, MORAL CONSCIOUSNESS THAT RECOGNIZES THE DIGNITY, VALUE AND GIFTS OF ALL PEOPLE. TO ACCOMPLISH ITS MISSION, THE UNIVERSITY COMMUNITY CREATES A STUDENT-CENTERED ENVIRONMENT IN WHICH LOVE OF LEARNING IS OF PRIME IMPORTANCE. MEMBERS OF THE COMMUNITY ARE EXPECTED TO EXAMINE AND EXPRESS THEIR OWN VALUES, LISTEN RESPECTFULLY TO AND RESPOND TO THE OPINIONS OF OTHERS, SERVE THE COMMUNITY IN WHICH THEY LIVE, WELCOME OTHERS INTO THEIR LIVES AND CARE FOR ALL OF GOD'S CREATIONS. false false 611430 105100815 16253201 144508961 SAINT LEO UNIVERSITY PROVIDES A CONVENTIONAL ON-CAMPUS COLLEGE EDUCATION AS WELL AS EXTENSION PROGRAMS INCLUDING MILITARY EDUCATION AND OTHER CONTINUING EDUCATION COURSES. 611710 13426886 12544074 AUXILIARY ENTERPRISES OF THE UNIVERSITY PROVIDE CERTAIN CUSTOMARY SERVICES SUCH AS HOUSING, FOOD SERVICE, AND VARIOUS STUDENT ACTIVITIES FOR THE BENEFIT OF THE STUDENTS OF THE UNIVERSITY. 118527701 true true false false false false false true false true true false false false true true true false true false false false false false true false false false true true true false false false false false true false false false false true false false false false false false false false false true 31503 0 true 2828 true true true true CJ false false false true true false false false false X 36 35 false false false false false false false true true false false true true true true true true true true false FL X JEANNE PLECENIK 3525888215 PO BOX 6665 SAINT LEO FL 33574 SR ROBERTA BAILEY OSB 4.0 X JOHN BERMINGHAM 4.0 X NOEL BOEKE 4.0 X ANTHONY BORRELL 4.0 X CYNTHIA BRANNEN 4.0 X X ROBERT BUCKNER 4.0 X ROBERT CABOT 4.0 X FATHER ISAAC CAMACHO OSB 4.0 X ANTHONY GERBINO 4.0 X GLEN GREENFELDER 4.0 X DENNIS HAYES 4.0 X VIRGINIA JUDGE 4.0 X THAMIR AR KADDOURI JR 4.0 X X EDWARD KOBEL 4.0 X PAUL LEHNER 4.0 X WILLIAM J LENNOX JR 4.0 X TERRENCE LINNERT 4.0 X MICHAEL LOMBARDY 4.0 X ADELFA LOPEZ-COYLE 4.0 X NADEEM MAZHAR 4.0 X SHEILA MCDEVITT 4.0 X ALFREDO MOLINA 4.0 X ROBERT F MORRIS MSGR 4.0 X DENNIS MULLEN 4.0 X MARVIN MULLIGAN 4.0 X MARY O'KEEFE 4.0 X ROBERT PADALA 4.0 X MARY PALAZZO 4.0 X PETER POWERS 4.0 X BRIAN QUINN 4.0 X THOMAS SCHRADER 4.0 X KATHRYN SIMPSON 4.0 X DONALD TAPIA 4.0 X X SCOTT TONN 4.0 X JOHN VIEW 4.0 X JACQUELYN WHITE 4.0 X Arthur F Kirk 60.0 X 606812 0 42582 FRANCES MEZZANINI 60.0 X 232511 0 24099 EDWARD DADEZ 60.0 X 242097 0 26326 KATHRYN MCFARLAND 60.0 X 220087 0 21558 DAVID OSTRANDER 60.0 X 219356 0 23988 MARIBETH DURST 60.0 X 217319 0 22790 MICHAEL NASTANSKI 60.0 X 188397 0 24654 1926579 0 185997 58 false true false CREATIVE CONTRACTORS INC 620 DREW ST CLEARWATER FL 33775 CONTRACTOR 19391295 CORESLAB STRUCTURES 6301 N 56th ST TAMPA FL 33610 CONTRACTOR 2760757 EXTENSYS INC 2252 SERENITY PALM HARBOR FL 34683 CONTRACTOR 2162937 ELLIANCE INC 600 RIVER AVE 201 PITTSBURGH PA 15212 CONTRACTOR 1857564 SODEXHO PO BOX 536922 ATLANTA GA 30353 Plant maintenance 2358434 12 113443 1159062 1689700 555100 2962205 TUITION AND FEES 611430 144508961 144508961 SALE OF AUXILIARY ENTERPRISES 611710 12544074 12544074 157053035 413412 413412 0 0 69914 57908 12006 12006 -67 12073 22281612 20352354 1929258 1929258 1929258 42532 113443 197179 -154647 -154647 0 0 POOL MEMBERSHIP 713940 11643 11643 ALL OTHER REVENUES 900099 2705512 1739054 966458 2717155 164932424 158792089 11576 3166554 0 16253201 16253201 0 0 870079 870079 0 59479220 50693615 7413573 1372032 2185070 1862316 272350 50404 6813582 5162266 1405983 245333 5129289 4378851 642229 108209 0 109741 109741 238768 238768 0 0 137015 137015 17291914 15103776 1999770 188368 3029011 2997398 18219 13394 6257337 4962852 1111187 183298 2152708 768396 1363417 20895 0 2026549 1832232 178299 16018 1788873 1334616 394299 59958 0 437075 350609 78057 8409 918293 918293 0 4929607 4654075 275532 1967629 1967629 ENTERTAINMENT 985155 825562 106716 52877 CREDIT CARD FEES 695846 551991 139245 4610 EDUCATIONAL MATERIAL 1269087 1269087 DUES/SUBSCRIPTIONS 573694 174025 374293 25376 7390788 5352833 1971168 66787 142929531 118527701 21985862 2415968 14458709 29621680 0 0 5607230 4932866 5121945 5833389 339400 318400 0 0 497940 430855 105785 113597 1867458 1880111 168360432 45495033 87650341 122865399 31087740 31787071 3134928 2902631 425400 405000 0 0 1553006 3118516 151849882 204209515 11098223 15896250 1626919 1346205 475919 392587 31150610 57983669 0 0 0 0 0 0 0 0 123517 104047 44475188 75722758 X 89569106 109508160 10688559 11537479 7117029 7441118 107374694 128486757 151849882 204209515 X 22002893 -890830 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 555100 913059 X X false 25852008 5234488 728794 195513 31619777 5476661 20266968 251023 142644 25852008 5217908 176951 272511 190709 5476661 5102435 51737 255122 191386 5217908 0.80000 0.20000 true false 2303379 2303379 70842906 15695601 55147305 523938 523938 29778801 16322182 13456619 64911408 13477250 51434158 122865399 0 DEPOSITS HELD FOR OTHERS 104047 104047 164932424 142929531 22002893 -1259372 368542 -890830 21112063 150815180 656231 656231 150158949 14773475 14773475 164932424 128411143 255087 255087 128156056 14773475 14773475 142929531 SCHEDULE D, PART III FINE ART WORK ART WORK: The majority of the art work are prints by Yankel Ginzburg. The art work is exhibited throughout the campus buildings. SCHEDULE D, PART V ENDOWMENT FUNDS The majority of the Endowment is for the purpose of providing scholarships. Other endowments are for items such as library materials and service trips. SCHEDULE D, PART X, LINE 2 FIN 48 (ASC 740) AUDITED FINANCIAL STATEMENT FOOTNOTE FASB ASC SUBTOPIC 740-10, INCOME TAXES - OVERALL, PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, AND PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, AND DISCLOSURE. THE UNIVERSITY BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ITS TAX POSITIONS TAKEN AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT COULD RESULT IN MATERIAL IMPACT TO THE FINANCIAL STATEMENTS. SCHEDULE D, PART XII, LINE 2D RECONCILIATION OF REVENUE PER AUDITED FINANCIAL STATEMENTS WITH REVENUE PER RETURN: RENTAL EXPENSE 57,908 FUNDRAISING EXPENSE 197,179 CHANGE IN INTEREST RATE EXCHANGE 401,144 ---------- OTHER 656,231 SCHEDULE D, PART XII, LINE 4B UNIVERSITY FUNDED SCHOLARSHIP ALLOWANCE 14,773,475 SCHEDULE D, PART XIII, LINE 2D RECONCILIATION OF EXPENSES PER AUDITED FINANCIAL STATEMENT WITH EXPENSES PER RETURN: RENTAL EXPENSE 57,908 FUNDRAISING EXPENSE 197,179 ---------- TOTAL 255,087 SCHEDULE D, PART XIII, LINE 4B UNIVERSITY FUNDED SCHOLARSHIP ALLOWANCE 14,773,475 SCHEDULE D, PART XI, LINE 8 OTHER CHANGES IN NET ASSETS OR FUND BALANCE CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -32,602 CHANGE IN INTEREST EXCHANGE AGREEMENT 401,144 ---------- TOTAL OTHER CHANGES IN FUND BALANCE 368,542 true true true true true true true false false false false false false false false true false true SCHEDULE E, PART I, LINE 3 Yes, the nondiscriminatory policy ads run in September in newspapers in every University location. SCHEDULE E, PART I, LINE 6A THE COLLEGE PARTICIPATES IN NUMEROUS FEDERAL AND STATE PROGRAMS, WHICH ARE LISTED BELOW. THESE PROGRAMS ARE AUDITED ANNUALLY IN ACCORDANCE WITH RELATED REGULATIONS. STUDENT FINANCIAL ASSISTANCE U.S. DEPARTMENT OF EDUCATION: FEDERAL PELL GRANT PROGRAM FEDERAL WORK STUDY PROGRAM FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS FEDERAL DIRECT STUDENT LOAN PROGRAM FEDERAL PERKINS LOAN PROGRAM ACADEMIC COMPETITIVENESS GRANT NATIONAL SCIENCE & MATHEMATICS ACCESS TO RETAIN TALENT GRANT BYRD HONORS SCHOLARSHIP STATE FINANCIAL ASSISTANCE FLORIDA DEPARTMENT OF EDUCATION AND COMMISSIONER OF EDUCATION: FLORIDA RESIDENT ACCESS GRANT FLORIDA STUDENT ASSISTANCE GRANT FLORIDA BRIGHT FUTURES SCHOLARSHIP PROGRAM SCHOLARSHIPS FOR CHILDREN AND SPOUSES OF DECEASED OR DISABLED VETERANS AND SERVICE MEMBERS MINORITY TEACHER SCHOLARSHIP PROGRAM FLORIDA COMMISSIONER OF EDUCATION SOS Golf 43125 35430 7695 8944 Alumni Events 31861 11410 20451 22062 18775 36186 7 80989 66603 14386 111212 155975 113443 42532 22062 18775 156342 197179 -154647 true Annual Scholarships 27 39500 Athletic Scholarships 244 2058716 Endowment Scholarships 110 256786 Institutional Merit Scholarships 1917 10353399 Institutional Need Based Scholarships 454 1358300 Other Educ Shlshp - Inc Employee Tuition Remission 599 1401328 Employee Frng Bnft FORM 990, SCHEDULE I DESCRIPTION OF ORGANIZATION'S PROCEDURES FOR MONITORING THE USE OF GRANTS Individuals requesting any form of financial aid must complete personal financial statements and if they are dependents, they must also provide parental or guardian financial information. Only individuals who are enrolled in the school at the time of disbursements are considered for financial aid. X X X true true X X X X X false false false false false false false false false Arthur F Kirk 327232 0 210539 0 69041 0 22050 0 20532 0 649394 0 0 0 FRANCES MEZZANINI 148189 0 68860 0 15462 0 15493 0 8606 0 256610 0 0 0 EDWARD DADEZ 165125 0 60112 0 16860 0 15493 0 10833 0 268423 0 0 0 KATHRYN MCFARLAND 138674 0 63266 0 18147 0 11994 0 9564 0 241645 0 0 0 DAVID OSTRANDER 175237 0 44119 0 0 0 15001 0 8987 0 243344 0 0 0 MARIBETH DURST 150629 0 50190 0 16500 0 15057 0 7733 0 240109 0 0 0 MICHAEL NASTANSKI 156297 0 15000 0 17100 0 14665 0 9989 0 213051 0 0 0 SCHEDULE J, PART I, LINE 1B DR. ARTHUR KIRK HAS THE FOLLOWING TAXABLE ALLOWANCES: LIFE, DISABILITY LT CARE INSURANCE 3,232 HOUSING ALLOWANCE 30,000 AUTOMOBILE ALLOWANCE 9,750 SOCIAL CLUB DUES 7,131 DISCRETIONARY SPENDING ACCOUNT 2,428 THE HOUSE ALLOWANCE IS FOR KEEPING DR. KIRK'S HOUSE OPEN FOR UNIVERSITY FUNCTIONS. EDWARD DADEZ HAS THE FOLLOWING TAXABLE ALLOWANCES: LOANS - FORGONE INTEREST OR DEBT FORGIVENESS 8,748 KATHRYN MCFARLAND HAS THE FOLLOWING TAXABLE ALLOWANCES: MOVING EXPENSES 1,647 MICHAEL NASTANSKI HAS THE FOLLOWING TAXABLE ALLOWANCES: SOCIAL CLUB DUES 600 SCHEDULE J, LINE 3 OFFICES AND POSITIONS FOR WHICH PROCESS WAS USED, AND YEAR PROCESS WAS BEGUN THE UNIVERSITY HIRES AN INDEPENDENT CONSULTANT TO REVIEW AND MAKE RECOMMENDATIONS FOR THE PRESIDENT'S COMPENSATION PACKAGE BASED OFF OF INDUSTRY, TRENDS, ETC. THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS DECIDES WHAT THE PRESIDENT'S COMPENSATION WILL BE AFTER REVIEWING THE CONSULTANT'S WORK AND RECOMMENDATION. Higher Educational Facilities Financing Authority 900058227 2006-09-29 10000000 Student Residential Buildings false false true Higher Educational Facilities Financing Authority 942567020 2009-12-31 21450000 See Part VI false false true Higher Educational Facilities Financing Authority 942567020 2010-05-16 22000000 Educational Facilities false false true Higher Educational Facilities Financing Authority 942567020 2010-12-01 8000000 Educational Facilities false false true 0 0 10000000 0 0 0 50000 0 0 9950000 0 0 2007 false false true true 0 0 21450000 0 0 0 203151 0 0 21246849 0 0 2009 false false true true 0 0 22000000 0 0 0 216078 0 0 21783922 0 0 2011 false false true true 0 0 8000000 0 0 0 95300 0 0 7904700 0 0 2012 false false true true false false false false 0 true false false false false 0 true false false false false 0 true false false false false 0 true true true false 0 false 0 false true true true false 0 false 0 false true true true false 0 false 0 false true true true false 0 false 0 false true See Schedule O 0 Dr Edward W Dadez (SEE SCH L, PART V) X 68000 47600 false false true 47600 SCHEDULE L TRANSACTIONS WITH INTERESTED PERSONS DR. ARTHUR F. KIRK, JR. - PRESIDENT THE PURPOSE OF THE SECURED BENEFIT PLAN IS TO ATTRACT AND RETAIN QUALIFIED EMPLOYEES BY SHARING OWNERSHIP OF AN INSURANCE POLICY ON THE ELIGIBLE INDIVIDUAL'S LIFE PAID FOR BY THE EMPLOYER. DR. KIRK IS THE FIRST OWNER OF THE POLICY AND SAINT LEO UNIVERSITY IS THE SECOND OWNER. AT THE TERMINATION OF THE POLICY OR PAYMENT OF DEATH BENEFITS THE UNIVERSITY RECOVERS ALL ITS COST IN THE LIFE INSURANCE POLICY. SCHEDULE L, PART II LOANS TO INTERESTED PERSONS DR. EDWARD W. DADEZ - VP STUDENT SERVICES THE LOAN TO DR. DADEZ IS AN AGREEMENT THAT SAINT LEO UNIVERSITY ENTERED SO THAT THEY WERE ABLE TO RETAIN HIS SPECIALTY AND KNOWLEDGE DEALING WITH OUR MILITARY AND CIVILIAN CENTERS. THE LOAN HAS A REPAYMENT PROVISION THAT PROTECTS SAINT LEO'S INTERESTS. X 53 555100 Fair Market Value false true false SCHEDULE M, PART I, COLUMN B THE NUMBERS REFLECT THE NUMBER OF CONTRIBUTIONS. IN SOME CASES, THERE WERE MULTIPLE ITEMS IN ONE CONTRIBUTION. FORM 990, PART VI, LINE 11B Description of PROCESS USED TO REVIEW Form 990 THE BOARD WILL RECEIVE A "FINALIZED" DRAFT COPY OF THE 990 AHEAD OF THE FEBRUARY BOARD MEETINGS. DURING THE BOARD MEETING THE MANAGEMENT TEAM WILL BRIEFLY DISCUSS AND DESCRIBE THE 990 AND WILL TAKE COMMENTS AND QUESTIONS RELATED TO THE DRAFT. FORM 990, PART VI, LINE 12C DESCRIPTION OF PROCESS TO MONITOR TRANSACTIONS FOR CONFLICTS OF INTEREST UNIVERSITY MEMBERS SHALL AVOID FAVORITISM AND ANY POTENTIAL CONFLICT OF INTEREST OR APPEARANCE OF A CONFLICT OF INTEREST THROUGH THE FOLLOWING REQUIREMENTS: A. TRUSTEES DUTIES: ELEMENTS OF A CONFLICT. A TRUSTEE HAS A CONFLICT OF INTEREST WHENEVER THE TRUSTEE OR A FAMILY MEMBER OR A BUSINESS ASSOCIATED WITH A TRUSTEE OR A FAMILY MEMBER (INSOFAR AS MAY BE KNOWN TO THE TRUSTEE) HAS AN EXISTING OR POTENTIAL FINANCIAL OR OTHER INTEREST IN A MATTER PENDING BEFORE THE BOARD OF TRUSTEES THAT MIGHT REASONABLY BE EXPECTED TO IMPAIR THE TRUSTEE'S INDEPENDENCE OF JUDGMENT OR OBJECTIVITY IN THE DISCHARGE OF GOVERNANCE RESPONSIBILITIES. "BUSINESS ASSOCIATES WITH A TRUSTEE" MEANS AN ORGANIZATION, CORPORATION, PARTNERSHIP, PROPRIETORSHIP OR OTHER BUSINESS ENTITY WITH RESPECT TO WHICH EITHER THE TRUSTEE OR (INSOFAR AS MAY BE KNOWN TO THE TRUSTEE) A MEMBER OF THE TRUSTEE'S FAMILY: A) RECEIVES COMPENSATION IN EXCESS OF $500 IN ANY MONTH OR HAS ANY CONTRACTUAL RIGHT TO FUTURE INCOME IN EXCESS OF $6,000 PER YEAR EXCLUDING COMPENSATION FROM THE UNIVERSITY, ANY GOVERNMENTAL SOURCE, INVESTMENT OR SAVINGS INCOME, RETIREMENT OR INSURANCE BENEFITS OR ALIMONY; B) SERVES AS AN OFFICER, DIRECTOR, PARTNER, OR EMPLOYEE; C) HOLDS A FINANCIAL INTEREST VALUED IN EXCESS OF $10,000. B. BOARD RECUSAL: IMPLICATIONS OF RECUSAL. CONFLICT OF INTEREST COMES IN MANY FORMS AND CANNOT BE AVOIDED ENTIRELY. RECUSAL ON A PARTICULAR MATTER BECAUSE OF A CONFLICT DOES NOT REFLECT ADVERSELY ON THE INVOLVED TRUSTEE. RATHER, IT IS SIMPLY RECOGNITION THAT, IN A COMPLEX AND INTERCONNECTED SOCIETY, CONFLICTS WILL OCCUR. WHEN THIS HAPPENS, RECUSAL IS NECESSARY TO ASSURE THAT A TRUSTEE'S INDEPENDENCE OF JUDGMENT IS NOT COMPROMISED, THAT THE PUBLIC'S CONFIDENCE IN THE INTEGRITY OF THE BOARD OF TRUSTEES IS PRESERVED, AND THAT THE UNIVERSITY'S PUBLIC MISSION IS PROTECTED. C. CONFLICT OF INTEREST AND RECUSAL PROCEDURES: REVIEW OF PROCEDURES: THE BOARD OF TRUSTEES, WITH THE ASSISTANCE OF THE UNIVERSITY COUNSEL, SHALL REVIEW ANNUALLY AT A BOARD MEETING THE REQUIREMENTS AND PROCEDURES PROVIDED IN THIS POLICY. EACH TRUSTEE SHALL SIGN A RECEIPT INDICATING THE DATE THE CODE WAS RECEIVED AND ACKNOWLEDGING THAT THEY ARE RESPONSIBLE FOR READING THE CODE AND IS BOUND BY IT. TRUSTEES CAN SEEK CLARIFICATION OF THE CODE'S PROVISIONS FROM THE UNIVERSITY COMPLIANCE OFFICER. RECUSAL: A TRUSTEE MUST SELF RECUSE FROM A MATTER IF THE TRUSTEE HAS: A) ANY FINANCIAL INTEREST, DIRECT OR INDIRECT, THAT IS INCOMPATIBLE WITH THE DISCHARGE OF THE TRUSTEE'S PUBLIC DUTIES, OR B) ANY PERSONAL INTEREST, DIRECT OR INDIRECT, THAT IS INCOMPATIBLE WITH THE DISCHARGE OF THE TRUSTEE'S PUBLIC DUTIES. D. UNIVERSITY MEMBERS EXPECTED BEHAVIOR: NO EMPLOYEE SHALL HAVE ANY INTEREST, FINANCIAL OR OTHERWISE, DIRECT OR INDIRECT, OR ENGAGE IN ANY BUSINESS TRANSACTION OR PROFESSIONAL ACTIVITY, THAT IS IN SUBSTANTIAL CONFLICT WITH THE PROPER DISCHARGE OF THE EMPLOYEE'S DUTIES. E. ADDITIONAL OBLIGATIONS: TRUSTEE AND SENIOR ADMINISTRATIVE PERSONNEL HAVE A DUTY TO THE UNIVERSITY TO ALWAYS ACT IN GOOD FAITH, WITH THE CARE AN ORDINARY PRUDENT PERSON IN A LIKE POSITION WOULD EXERCISE UNDER SIMILAR CIRCUMSTANCES, AND IN A MANNER REASONABLY BELIEVED TO BE IN THE BEST INTERESTS OF THE UNIVERSITY. PERSONS OCCUPYING THESE POSITIONS OF TRUST SHALL COMPLETE AND SUBMIT, ON AT LEAST AN ANNUAL BASIS, A CONFLICT OF INTEREST DISCLOSURE FORM ("FORM"). THE FORM SHALL BE AMENDED FOR FREQUENTLY, AS NEEDED, WHENEVER THERE IS A MATERIAL CHANGE IN THE CIRCUMSTANCES OF THE REPORTING PERSON THAT WOULD MAKE THE FORM THEN ON FILE MATERIALLY FALSE OR MISLEADING. IN ADDITION, ALL TRUSTEES MUST AGREE AND SIGN A STATEMENT OF RESPONSIBILITIES ("STATEMENT") THAT WILL PROVIDE SOME GUIDANCE ON THE SPECIAL RESPONSIBILITIES ATTENDED TO THAT OFFICE. THE FORM AND THE STATEMENT MAY BE CHANGED FROM TIME TO TIME BY THE BOARD. FORM 990, PART VI, LINE 15A OFFICES & POSITIONS FOR WHICH PROCESS WAS USED, & YEAR PROCESS WAS BEGUN THE UNIVERSITY HIRES AN INDEPENDENT CONSULTANT TO REVIEW AND MAKE RECOMMENDATIONS FOR THE PRESIDENT'S COMPENSATION PACKAGE BASED OFF OF INDUSTRY, TRENDS, ETC. THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS DECIDES WHAT THE PRESIDENT'S COMPENSATION WILL BE AFTER REVIEWING THE CONSULTANT'S WORK AND RECOMMENDATION. FORM 990, PART VI, LINE 15B OFFICES & POSITIONS FOR WHICH PROCESS WAS USED, & YEAR PROCESS WAS BEGUN THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS AND APPROVES ALL SALARIES AND BASES THEIR REVIEW ON SALARY TRENDING AND OTHER COMPENSATION RELATED INFORMATION. THE PROCESS IS USED TO ESTABLISH COMPENSATION FOR THE FOLLOWING OFFICES AND POSITIONS: UNIVERSITY PRESIDENT VICE PRESIDENT OF ACADEMIC AFFAIRS VICE PRESIDENT OF CONTINUING EDUCATION AND STUDENT SERVICES VICE PRESIDENT OF BUSINESS AFFAIRS VICE PRESIDENT OF ENROLLMENT VICE PRESIDENT OF UNIVERSITY ADVANCEMENT ASSOCIATE VICE PRESIDENT FOR TECHNOLOGY SERVICES UNIVERSITY GENERAL COUNSEL ASSOCIATE VICE PRESIDENT OF BUSINESS AFFAIRS DEAN OF BUSINESS DEAN OF ARTS AND SCIENCES DEAN OF EDUCATION AND SOCIAL SERVICES DIRECTOR OF THE CENTER FOR ONLINE LEARNING SAINT LEO UNIVERSITY COMPENSATION POLICY IS APPROVED ANNUALLY BY THE BOARD OF DIRECTOR AND WAS LAST UNDERTAKEN IN OCTOBER 2010. FORM 990, PART VI, LINE 19 AVAILABILITY OF GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, & FINANCIAL STATEMENTS TO GENERAL PUBLIC SAINT LEO UNIVERSITY WILL PROVIDE COPIES OF THE POLICIES AND DOCUMENTS UPON WRITTEN REQUEST. SCHEDULE K, PART VI SUPPLEMENTAL INFORMATION SCHEDULE K, PART I, LINE B, COLUMN F DESCRIPTION OF PURPOSE REFUND SEPTEMBER 29, 1999 - PASCO CO. EDUCATIONAL FACILITY REVENUE BONDS, SERIES 1999 REFUND NOVEMBER 19, 2002 - HIGHER EDUCATIONAL FACILITIES FINANCING AUTHORITY REVENUE BONDS, SERIES 2002 REFUND NOVEMBER 12, 2004 - HIGHER EDUCATIONAL FACILITIES FINANCING AUTHORITY REVENUE BONDS, SERIES 2004 SCHEDULE K, PART II, LINE 3, COLUMN A, B, C, AND D PROCEEDS FROM ALL BOND ISSUES WERE KEPT IN NON-INTEREST BEARING ACCOUNTS UNTIL EXPENDITURES ARE MADE. FORM 990, PART XI, LINE 5 OTHER CHANGES IN NET ASSETS OR FUND BALANCES UNREALIZED GAINS ON INVESTMENTS -1,259,372 CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -32,602 CHANGE IN INTEREST EXCHANGE AGREEMENT 401,144 ----------- TOTAL OTHER CHANGES IN FUND BALANCE -890,830