2013-04-12T09:03:10-05:00 2012-05-31 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 777 E WISCONSIN AVENUE 32ND FLOOR MILWAUKEE WI 53202 990 2011-06-01 420680351 WARTBURG COLLEGE WART 3193528411 100 WARTBURG BLVD WAVERLY IA 50677 RICHARD SEGGERMAN 3193528411 2013-04-10 1 TROY E MARINE CPA P00187863 4147775500 2013-04-10 2011 2016-02-25 16:41:14Z DARREL D COLSON 100 WARTBURG BLVD WAVERLY IA 50677 126127579 0 X WWW.WARTBURG.EDU X 1852 IA UNDERGRADUATE HIGHER EDUCATION THAT CHALLENGES AND NURTURES STUDENTS FOR LIVES OF LEADERSHIP AND SERVICE AS A SPIRITED EXPRESSION OF THEIR FAITH AND LEARNING. 26 23 2095 500 261001 0 4935802 6870589 64468554 68879674 1744691 11346040 2712199 2234484 73861246 89330787 24332842 26625768 0 0 26215653 26993071 0 0 1739631 24255532 24393083 74804027 78011922 -942781 11318865 182083943 180021777 97393665 97174430 84690278 82847347 UNDERGRADUATE HIGHER EDUCATION THAT CHALLENGES AND NURTURES STUDENTS FOR LIVES OF LEADERSHIP AND SERVICE AS A SPIRITED EXPRESSION OF THEIR FAITH AND LEARNING. 0 0 44151552 26625768 53442615 INSTRUCTION OF STUDENTS ENROLLED AND THE RELATED ACADEMIC SUPPORT; 1,773 AND 1,686 FULL-TIME EQUIVALENT STUDENTS ENROLLED FOR THE FALL 2011 AND WINTER 2012 TERMS RESPECTIVELY. 8461661 15116454 AUXILIARY ENTERPRISES SUPPORTS STUDENTS LIVING AND EATING ON CAMPUS AS WELL AS PROVIDING BOOKS. THERE WERE 1,451 AND 1,395 STUDENTS LIVING ON CAMPUS FOR THE FALL 2011 AND WINTER 2012 TERMS, RESPECTIVELY. 11093582 2069893 ALL OTHER PROGRAM RELATED SERVICES 63706795 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 1 0 1 1 0 0 0 1 0 0 0 0 1 2313 0 1 2095 1 1 1 0 0 0 0 0 1 1 0 0 0 X 26 23 0 0 1 0 0 0 0 1 1 0 0 0 1 1 1 1 0 1 0 0 X RICHARD SEGGERMAN 3193528215 100 WARTBURG BLVD WAVERLY IA 506772215 ANDREA WESTMEYER 0.10 X 0 0 0 BISHOP JAMES ARENDS 0.10 X 0 0 0 BISHOP STEVEN ULLESTAD 0.10 X 0 0 0 DOROTHY BOWEN 0.10 X 0 0 0 DR DELFORD DOHERTY 0.10 X 0 0 0 DR GIL WESSEL 0.10 X 0 0 0 DR GRADY BALLENGER 0.10 X 0 0 0 DR HANS-PETER BRODHUN 0.10 X 0 0 0 DR MARILYN FLACHMAN 0.10 X 0 0 0 FRED HAGEMANN 0.10 X 0 0 0 GARY HOOVER 0.10 X 0 0 0 GUNTER SCHUCHARDT 0.10 X 0 0 0 JACK SALZWEDEL 0.10 X 0 0 0 JIM LOVERIDGE 0.10 X 0 0 0 JOANN KILGUS 0.10 X 0 0 0 JON VOLKERT 0.10 X 0 0 0 LIZ MATHIS 0.10 X 0 0 0 MARK BALDWIN 0.10 X 0 0 0 MIKE MCCOY 0.10 X 0 0 0 RACHEL RIENSCHE 0.10 X 0 0 0 RAY MCCASKEY 0.10 X 0 0 0 ROBERT SEVERSON 0.10 X 0 0 0 RUTH BAHE-JACHNA 0.10 X 0 0 0 SHON COOK 0.10 X 0 0 0 SHERMAN HICKS 0.10 X 0 0 0 DARREL COLSON 40.00 X X 243347 0 32249 DEBORAH LOERS 40.00 X 108622 0 28291 EDITH WALDSTEIN 40.00 X 124700 0 20110 FEROL J MENZEL 40.00 X 78216 0 9193 FRED RIBICH 40.00 X 112510 0 20083 GARY GRACE 40.00 X 120428 0 26978 RICHARD SEGGERMAN 40.00 X 80747 0 25902 SCOTT LEISINGER 40.00 X 120669 0 21925 FRED WALDSTEIN 40.00 X 101763 0 7578 1091002 0 192309 7 0 1 0 SCHNEIDER ELECTRIC PO BOX 841868 DALLAS TX 758241868 ELECTRICAL CONTRACTING 2067917 RUFFALOCODY 221 3RD AVENUE SE SUITE 10 CEDAR RAPIDS IA 524063018 ENROLLMENT MANAGEMENT CONSULTANT 275377 WAVERLY HEALTH CENTER 312 9TH STREET SW WAVERLY IA 50677 HEALTH SERVICES 210308 FBG SERVICE CORPORATION 407 S 27TH AVENUE OMAHA NE 68131 CLEANING SERVICES 201349 HAWKEYE STAGES 703 DUDLEY STREET DECORAH IA 52101 BUS CHARTER 170762 7 407575 6463014 715162 6870589 TUITION & FEES 611310 53442615 53442615 AUXILIARY ENTERPRISES 611710 15437059 15210867 226192 68879674 1418111 1418111 1147976 1147976 113022 59610 53412 53412 53412 45517135 36737182 8779953 8779953 8779953 OTHER PROGRAM RELATED 541900 2036373 1865590 170783 COPY CENTER INCOME 561439 27157 27157 STUDENT CENTER INCOME 561439 7652 7652 109890 109890 2181072 89330787 70628962 261001 11570235 26625768 26625768 1114817 287218 627243 200356 19007715 16975963 1401047 630705 1241091 1102251 91480 47360 4291513 3803104 316325 172084 1337935 1183680 98618 55637 19741 19741 105403 105403 430000 430000 690604 373765 50904 265935 208774 193225 15389 160 1620256 1364051 119428 136777 651373 390824 260549 1893304 1753750 139554 1364627 1078037 100586 186004 15750 14589 1161 4639810 4639810 3846681 3846681 511552 473839 37706 7 FOOD PURCHASES & BOOKST 2916392 2916392 CAMPUS GROUPS & MAY TER 1898932 1898932 SERVICE AGREEMENTS 868750 802722 64035 1993 REPAIRS AND MAINTENANCE 750963 695565 55353 45 1960171 1773120 144483 42568 78011922 63706795 12565496 1739631 6709019 7979771 2400000 2400000 1200707 1388069 3265333 3261583 313964 305824 477768 784041 143762567 43399113 100292138 100363454 40413753 37869099 22636799 22040237 4374462 3629699 182083943 180021777 5444180 5922950 2953449 2959834 146279 160989 84200826 83439981 4648931 4690676 97393665 97174430 X 37742044 36694321 12281395 9585582 34666839 36567444 84690278 82847347 182083943 180021777 X 11318865 -13161796 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 1 49017 0 0 0 49017 0 EXPLANATION OF LOBBYING ACTIVITIES: PART II-B, LINE 1: THE COLLEGE PAYS MEMBERSHIP DUES TO VARIOUS ORGANIZATIONS, SOME PORTION OF WHICH MAY BE USED FOR LOBBYING IN CONNECTION WITH ISSUES THAT IMPACT HIGHER EDUCATION. THE COLLEGE ALSO PAYS A CONSULTING FIRM THAT CONDUCTS LOBBYING AND REVIEWS APPROPRIATE GRANT AND OTHER FUNDING OPPORTUNITIES ON BEHALF OF THE COLLEGE. 9200 59900 X X 0 49190421 1808279 -3476472 649266 1193143 45679819 40182889 2100248 8732948 621036 1204628 49190421 36575945 693726 4798095 647681 1237196 40182889 50105268 4626170 -16233325 650680 1271488 36575945 0.24000 0.76000 0 0 16300 3615780 3632080 118469140 29261308 89207832 12060979 9563016 2497963 9600368 4574789 5025579 100363454 CSV - LIFE INSURANCE 2532264 F OTHER 358020 F FUND OF HEDGE FUNDS 11878796 F GUARANTEED INVESTMENT CONTRACTS 7271157 F 22040237 STUDENT DEPOSITS 1146612 ANNUITIES PAYABLE 2864177 DEPOSITS HELD IN CUSTODY 163887 ASSET RETIREMENT OBLIGATION 516000 4690676 89330787 78011922 11318865 -13161796 -13161796 -1842931 49577940 -13161796 -26625768 -39787564 89365504 430000 -464717 -34717 89330787 51420871 464717 464717 50956154 430000 26625768 27055768 78011922 PART III, LINE 4: THE COLLEGE DOES NOT HAVE A SIGNIFICANT ART COLLECTION. THE ITEMS THAT ARE HELD ARE USED FOR EDUCATIONAL PURPOSES IN VARIOUS COURSES AND FOR THE BENEFIT OF THE GENERAL PUBLIC. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE COLLEGE'S ENDOWMENT FUNDS ARE USED TO SUPPORT THE EDUCATIONAL AND OTHER SUPPORT SERVICES PROVIDED TO THE STUDENT BODY. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE COLLEGE FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THE GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE COLLEGE FOR UNCERTAIN TAX POSITIONS AS OF MAY 31, 2012. PART XII, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -26,625,768. PART XII, LINE 4B - OTHER ADJUSTMENTS: ACTUARIAL ADJUSTMENTS - LOSS -405,107. RENTAL EXPENSES -59,610. PART XIII, LINE 2D - OTHER ADJUSTMENTS: ACTUARIAL ADJUSTMENTS - LOSS 405,107. RENTAL EXPENSES 59,610. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 26,625,768. 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 THE COLLEGE FOLLOWS A NONDISCRIMINATORY POLICY REGARDING ALL PROGRAMS. ENROLLMENT OF STUDENTS IS WITHOUT DISCRIMINATION AS TO RACE, SEX, COLOR, SEXUAL ORIENTATION, HANDICAP, OR NATIONAL ORIGIN AND IS PUBLISHED IN THE COLLEGE'S CATALOG, AND THE COLLEGE'S WEBSITE. RECRUITMENT PROCEDURES ARE DESIGNED AND CARRIED OUT TO REACH ALL RACIAL SEGMENTS IN THE GEOGRAPHICAL AREA SERVED BY THE COLLEGE. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FINANCIAL ASSISTANCE FROM THE U.S. GOVERNMENT IN CONNECTION WITH VARIOUS PROGRAMS SUCH AS THE PELL GRANT PROGRAM, TEACHER EDUCATION ASSISTANCE FOR COLLEGE AND HIGHER EDUCATION GRANT PROGRAM, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (SEOG), FEDERAL WORKSTUDY PROGRAM AND FEDERAL PERKINS LOAN PROGRAM. THE COLLEGE ALSO RECEIVES SUPPORT FROM THE STATE OF IOWA THROUGH THEIR TUITION GRANT PROGRAM AND OTHER RELATED STATE PROGRAMS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES SEE PART V 51581 EAST ASIA & PACIFIC 0 0 PROGRAM SERVICE SEE PART V 22996 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 PROGRAM SERVICES SEE PART V 67510 NORTH AMERICA (INCLUDING CANADA AND MEXICO BUT NOT THE UNITED STATES) 0 0 PROGRAM SERVICE SEE PART V 7802 SOUTH AMERICA 0 0 PROGRAM SERVICES INSTRUCTION 45660 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICE SEE PART V 8404 SOUTH ASIA 0 0 PROGRAM SERVICES SEE PART V 17547 RUSSIA AND THE NEWLY INDEPENDENT STATES 0 0 PROGRAM SERVICES STUDENT SERVICES 233 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES INSTRUCTION 65 0 0 0 0 0 0 221733 65 221798 0 0 0 0 0 0 SCHEDULE F, PART I, LINE 3 - COLUMN (E): LINE 1 - INSTRUCTION AND STUDENT SERVICES; LINE 2 - INSTRUCTION AND STUDENT SERVICES; LINE 3 - ACADEMIC SUPPORT, INSTRUCTION AND STUDENT SERVICES; LINE 4 - ACADEMIC SUPPORT, INSTITUTIONAL SUPPORT, INSTRUCTION AND STUDENT SERVICES; LINE 6 - INSTRUCTION, PUBLIC SERVICE AND STUDENT SERVICES LINE 7 - INSTRUCTION AND PUBLIC SERVICE; 1 INSTITUTIONAL SCHOLARSHIPS AND GRANTS 1728 930757 25539266 TUITION DISCOUNTING INSTITUTIONAL SCHOLARSHIPS AND GRANTS ARE USED AS A DIRECT REDUCTION OF THE TUITION THAT EACH FULL-TIME STUDENT IS REQUIRED TO PAY. SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT 345 155745 0 FAIR MARKET VALUE SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT (SEOG) IS A FEDERAL GRANT THAT IS AWARDED BY THE COLLEGE TO QUALIFIED STUDENTS IN ORDER TO REDUCE THE COST THE STUDENT MUST PAY FOR THEIR EDUCATION. PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE COLLEGE PROVIDES GRANTS AND SCHOLARSHIPS TO ITS FULL-TIME, DEGREE SEEKING STUDENTS, BY CREDITING SUCH AMOUNTS DIRECTLY TO THEIR STUDENT ACCOUNTS, TO BE ONLY USED AS AN OFFSET FOR TUITION. X X X 1 1 X X X 0 1 0 0 0 0 0 0 0 DARREL COLSON 218581 0 0 0 24766 0 18000 0 14249 0 275596 0 0 0 SUPPLEMENTAL INFORMATION PART III SCHEDULE J, PART I, LINE 4 - THE COLLEGE HAS A CODE SECTION 457(F) DEFERRED COMPENSATION AGREEMENT WITH PRESIDENT COLSON. UNDER THE AGREEMENT, THE COLLEGE MAINTAINS A DEFERRED COMPENSATION ACCOUNT THAT CONSIDERS AN APPROPRIATE PERCENTAGE OF THE PRESIDENT'S SALARY, AS WELL AS RELATED EARNINGS(LOSSES). THE AMOUNTS CREDITED TO SUCH AN ACCOUNT BECOME FULLY VESTED WITH THE PRESIDENT ON THE EARLIEST OF (1) THE DATE THE PRESIDENT REACHES AGE 57, (2) THE DATE THE PRESIDENT TERMINATES EMPLOYMENT DUE TO DISABILITY, (3) THE DATE OF THE PRESIDENT'S DEATH, OR (4) THE DATE OF THE PRESIDENT'S INVOLUNTARY TERMINATION OF EMPLOYMENT (IN WHICH CASE THE PRESIDENT FORFEITS THE ENTIRE VALUE OF THE ACCOUNT). IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 462460VZ6 2005-12-29 49918166 SEE PART VI 0 0 0 IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 462460VY9 2005-12-29 36706381 SEE PART VI 0 0 0 2235000 64053751 3698429 40711429 992887 18651006 2005 0 1 1 1 115000 39399386 3572728 3552458 734128 31540072 2008 0 0 1 1 0 0 0 0 0 0 1 0 0 0.01630 0.00000 0.01630 1 0 0 0 1 SEE PART VI 5.000000000000 1 0 0 0 0 0 1 SEE PART VI 5.000000000000 1 0 0 SCHEDULE K, PART 1, COLUMN F - LINE A: THE 2005 SERIES A BOND PROCEEDS WERE USED TO ADVANCE REFUND THE 2002 (7/10/02) BONDS. SCHEDULE K, PART 1, COLUMN F - LINE B: THE 2005 SERIES B BOND PROCEEDS WERE USED TO FINANCE THE COST OF ACQUIRING, CONSTRUCTING, IMPROVING, AND EQUIPPING THE WELLNESS CENTER, TO PAY CAPITALIZED INTEREST DURING CONSTRUCTION OF THE WELLNESS CENTER, AND TO FUND THE SERIES B DEBT SERVICE RESERVE FUND. SCHEDULE K, PART II, LINE 3: THE TOTAL PROCEEDS DO NOT AGREE TO THE ISSUE PRICE IN PART I, COLUMN (E) DUE TO INVESTMENT EARNINGS. SCHEDULE K, PART IV, LINE 4B: SCHEDULE K, PART IV, LINE 4B: COLUMN A: RESERVE FUND - ROYAL BANK OF CANADA, ESCROW FUND - MBIA, INC; COLUMN B: CONSTRUCTION FUND - MORGAN STANLEY, RESERVE FUND - ROYAL BANK OF CANADA, CAPITALIZED INTEREST FUND - MORGAN STANLEY SCHEDULE K, PART IV, LINE 4C: COLUMN A: RESERVE FUND - 5 YEARS, ESCROW FUND - 6.8 YEARS; COLUMN B: CONSTRUCTION FUND - 2.4 YEARS, RESERVE FUND - 5 YEARS, CAPITALIZED INTEREST FUND - 2.4 YEARS DISCLOSURE SUBJECT TO FERPA LAWS 56500 MERIT SCHOLARSHIPS DISCLOSURE SUBJECT TO FERPA LAWS 56831 TUITION REMISSION ME & V PARTIAL OWNER IS A FAMILY MEMBER OF LIZ MATHIS, REGENT. 169108 MARKETING AND ADVERTISING SERVICES PROVIDED IN THE ORDINARY COURSE OF BUSINESS. FEES CHARGED ARE NORMAL AND REASONABLE FOR THE SERVICES PROVIDED. LIZ MATHIS HAS NO CONTROL OVER ME & V 0 FRED WALDSTEIN FAMILY MEMBER OF EDITH WALDSTEIN, VICE PRESIDENT OF ENROLLMENT MANAGEMENT 96528 EMPLOYED AS FACULTY; PROFESSOR OF POLITICAL SCIENCE. REPORTS TO THE VICE PRESIDENT FOR ACADEMIC AFFAIRS. FAMILY MEMBER EDITH WALDSTEIN, VICE PRESIDENT FOR ENROLLMENT MANAGEMENT, HAS NO CONTROL OVER FACULTY COMPENSATION OR GOVERNANCE. 0 X 1 9200 VALUE - TIME OF DONATION X 15 179781 AVG HI/LOW DATE OF GIFT X 1 51935 FMV X 1 471630 FMV X HARVESTED CROPS 2 2616 AVG HI/LOW ON DATE OF GIFT 1 0 1 0 FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS WERE AMENDED TO SPECIFY THE NUMBER AND COMPOSITION OF THE AUDIT COMMITTEE, AS WELL AS PROVIDE MORE COMPREHENSIVE INFORMATION REGARDING THE VARIOUS FINANCIAL AND TAX REPORTS THAT THE AUDIT COMMITTEE SHALL CAUSE TO BE PREPARED. FORM 990, PART VI, SECTION B, LINE 11 THE COLLEGE PROVIDES PRELIMINARY TAX RETURN INFORMATION VIA SELECTED WORKPAPERS AND A SPECIALIZED TEMPLATE TO THE AUDIT FIRM. THE AUDIT FIRM THEN USES SPECIALIZED PROPRIETARY 990 TAX FORM SOFTWARE TO PERFORM DIAGNOSTICS AND PREPARE A DRAFT OF THE FORM 990 BASED ON INFORMATION PROVIDED TO THEM AND THEIR KNOWLEDGE OF HOW TO COMPLETE THE 990. AFTER RECEIVING THE DRAFT FORM 990 FROM THE AUDIT FIRM, PERSONNEL FROM THE BUSINESS OFFICE REVIEW THE DRAFT, RECONCILING INFORMATION BACK TO SUPPORTING WORK PAPERS WHERE POSSIBLE AND REVIEWING OTHER INFORMATION FOR COMPLETENESS, ACCURACY, CONSISTENCY, AND REASONABLENESS. NEXT, THE PRESIDENT'S CABINET AND THE BOARD'S AUDIT COMMITTEE MEMBERS REVIEW THE DRAFT OF THE FORM 990 FOR COMPLETENESS, ACCURACY, CONSISTENCY, AND REASONABLENESS. FEEDBACK FROM ALL REVIEW IS FORWARDED TO THE AUDIT FIRM, AND THE FORM 990 IS UPDATED ACCORDINGLY. A COPY OF THE FORM 990 (WITH DONOR NAMES REMOVED) IS POSTED TO THE SECURE, CONFIDENTIAL BOARD OF REGENTS WEB SITE, AND AN EMAIL IS SENT TO ALL BOARD MEMBERS NOTIFYING THEM THAT THE 990 IS AVAILABLE FOR REVIEW. FEEDBACK PROVIDED FROM THE BOARD MEMBERS IS REVIEWED AND DISCUSSED WITH INDIVIDUAL BOARD MEMBERS AS NECESSARY AND APPROPRIATE. ALL FEEDBACK THAT REQUIRES A SIGNIFICANT CHANGE TO THE FORM 990 IS PROVIDED IN A SUMMARY FASHION TO ALL BOARD MEMBERS, TO ALLOW ADDITIONAL FEEDBACK OR COMMENTS. THE FINAL APPROVED FEEDBACK IS GIVEN TO THE AUDIT FIRM TO INCORPORATE IN THE FINAL FORM 990. THE BOARD RECEIVES THE FINAL FORM 990 PRIOR TO IT BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED, UPDATED, AND APPROVED ANNUALLY BY THE BOARD. BOARD MEMBERS AND KEY EMPLOYEES ARE REMINDED OF THEIR RESPONSIBILITY TO FOLLOW THE CONFLICT OF INTEREST POLICY. BUSINESS OFFICE PERSONNEL ARE FAMILIAR WITH THE VENDORS USED BY THE COLLEGE AND WOULD FOLLOW THE CONFLICT OF INTEREST POLICY IF THERE WERE ANY POTENTIAL TRANSACTIONS THAT WOULD FALL WITHIN THE SCOPE OF THAT POLICY. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF REGENTS ESTABLISHES COMPENSATION FOR THE PRESIDENT INITIALLY AND ANNUALLY, APPLYING ALL ELEMENTS NOTED IN THIS LINE'S QUERY. THE COMPARATOR GROUP IS LIMITED TO LIBERAL ARTS COLLEGES WITH COMPARABLE ENROLLMENTS, INCLUDING OTHER ELCA RELATED COLLEGES. THE PRESIDENT ESTABLISHES COMPENSATION FOR THE PRESIDENT'S CABINET INITIALLY AND ANNUALLY, APPLYING ALL ELEMENTS NOTED IN THIS LINE'S QUERY. THE COMPARATOR GROUP IS LIMITED TO LIBERAL ARTS COLLEGES WITH COMPARABLE ENROLLMENTS, INCLUDING OTHER ELCA-RELATED COLLEGES. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -13,161,796. MCELROY - WARTBURG LOAN FUND 100 WARTBURG BLVD WAVERLY IA 50677 421237616 PROVIDE STUDENT LOANS FOR POST SECONDARY EDUCATION. IA 501(C)(3) 2 WARTBURG COLLEGE 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 MCELROY - WARTBURG LOAN FUND R 87076 CASH - FMV