2013-04-12T12:55:09-07:00 2012-05-31 990 2011-06-01 060653264 CULINARY INSTITUTE OF AMERICA CULI 8454511478 1946 CAMPUS DRIVE HYDE PARK NY 12538 CHARLES O'MARA 8454511285 2013-03-20 2011 2016-02-25 16:41:14Z CHARLES A O'MARA 1946 CAMPUS DRIVE HYDE PARK NY 12538 170683689 0 X WWW.CIACHEF.EDU X 1946 NY COLLEGE DEDICATED TO PROVIDING OUR STUDENTS WITH THE WORLD'S BEST CULINARY EDUCATION 25 25 1157 1 0 0 17045933 18822461 139577843 146602355 2075755 1907818 408785 945611 159108316 168278245 19082812 17264535 0 0 69501298 73157769 0 0 2520188 54898515 56206580 143482625 146628884 15625691 21649361 326499267 343896708 137946973 144265649 188552294 199631059 COLLEGE DEDICATED TO PROVIDING OUR STUDENTS WITH THE WORLD'S BEST CULINARY EDUCATION 0 0 116624842 17264535 146602355 THE CULINARY INSTITUTE OF AMERICA IS A PRIVATE NOT FOR PROFIT COLLEGE DEDICATED TO PROVIDING THE WORLD'S BEST PROFESSIONAL CULINARY EDUCATION. EXCELLENCE, LEADERSHIP, PROFESSIONALISM, ETHICS AND RESPECT FOR DIVERSITY ARE THE CORE VALUES THAT GUIDE OUR EFFORTS. WE TEACH OUR STUDENTS THE GENERAL KNOWLEDGE AND SPECIFIC SKILLS NECESSARY TO LIVE SUCCESSFUL LIVES AND TO GROW INTO POSITIONS OF INFLUENCE AND LEADERSHIP IN THEIR CHOSEN PROFESSION. 0 0 0 116624842 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 0 1 1 1 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 366 0 1 1157 1 0 1 BD SN 0 0 0 1 1 0 0 0 0 0 0 X 25 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA NY TX X STEVEN STROM 8454511552 1946 CAMPUS DRIVE HYDE PARK NY 12538 ROBERT BERENSON 1.15 X 0 0 0 ELIZABETH BLAU 1.15 X 0 0 0 RICHARD BRADLEY 1.15 X 0 0 0 FRED CARL JR 1.15 X 0 0 0 CARLA COOPER 1.15 X 0 0 0 LORI DANIEL 1.15 X 0 0 0 PATRICIA DAILEY 1.15 X 0 0 0 JAMES DOHERTY 1.15 X 0 0 0 LORNA DONATONE 1.15 X 0 0 0 FRANK J FAHRENKOPF JR 1.15 X 0 0 0 MICHAEL S KAUFMAN 1.15 X 0 0 0 THOMAS KELLER 1.15 X 0 0 0 TAKESHI KOHJIMA 1.15 X 0 0 0 MARTIN P SUTTER 1.15 X 0 0 0 JON LUTHER 1.15 X 0 0 0 ARTHUR MAXWELL 1.15 X 0 0 0 RICHARD MAZER 1.15 X 0 0 0 CHARLES MERINOFF II 1.15 X 0 0 0 CAMERON M MITCHELL 1.15 X 0 0 0 ROBERT MUH 1.15 X 0 0 0 CHARLES PALMER 1.15 X 0 0 0 MELINDA R RICH 1.15 X 0 0 0 HAROLD O ROSSER 1.15 X 0 0 0 ROY YAMAGUCHI 1.15 X 0 0 0 LAWRENCE T RYAN 37.5 X 650777 0 109855 MARK ERICKSON 37.5 X 326022 0 81584 BRUCE HILLENBRAND 37.5 X 318629 0 75682 PETER RAINSFORD 37.5 X 289250 0 58574 CHARLES A OMARA 37.5 X 272028 0 58147 RICHARD MIGNAULT 37.5 X 265510 0 54867 VICTOR GIELISSE 37.5 X 209425 0 50913 GREGORY DRESCHER 37.5 X 179323 0 44496 NANCY HARVIN 37.5 X 172967 0 38990 DRUSILLA BLACKMAN 37.5 X 46111 0 9083 CHARLES HENNING 37.5 X 201825 0 43572 GENEVIEVE S FELDER 37.5 X 209082 0 40704 DAVID KELLAWAY 37.5 X 196098 0 36999 KATHY MERGET 37.5 X 174885 0 43610 BRADLEE BARNES 37.5 X 161633 0 35613 JAMES HEISEY 37.5 X 156781 0 30232 3830346 0 812921 95 0 1 0 Sodexho 2555 Main Street St Helena CA 94574 Custodial Services 2114440 Sabinal Group Construction Group San Antonio TX 78205 Construction 1071617 LCS Facility Group 381 Main Street Poughkeepsie NY 12601 Custodial Services 924614 Noelker and Hull Associates 30 West King Street Chambersburg PA 17201 Architects 808642 DATATEL Inc 4375 Fair Lakes Court FairFax VA 22033 Computer Services 678081 32 0 0 660260 0 849729 17312472 1116053 18822461 TUITION, DORM & STUDENT FEES 611310 131779387 131779387 0 0 EDUCATIONAL SERVICES 611310 10654860 10654860 0 0 BOOKSTORE/FOOD SALES 611710 4064858 0 0 4064858 PLACEMENT FEES/ CAREER WEEKS 611310 103250 103250 0 0 0 0 0 0 146602355 1593227 0 0 1593227 0 0 0 0 803744 0 0 803744 49078 0 0 0 49078 0 49078 0 0 49078 1953502 1494 1640405 0 313097 1494 314591 0 0 314591 344519 660260 765039 -420520 0 -420520 CASH DISC. ON PURCHASES 900099 3625 0 0 3625 ALUMNI INCOME 900099 2401 0 0 2401 507283 0 0 507283 513309 168278245 142537497 0 6918287 0 0 17264535 17264535 0 0 0 0 3553997 989317 2165981 398699 0 0 0 0 50449950 39890575 9517718 1041657 3107902 2469187 556536 82179 12319078 8805082 3318573 195423 3726842 2961360 683595 81887 0 0 0 0 582358 37857 540665 3836 168800 0 168800 0 102442 0 102442 0 0 0 170822 0 170822 0 10960436 8415218 2209827 335391 1478143 314171 1163900 72 3206997 2691510 492574 22913 1080752 94353 986399 0 0 0 0 0 4092688 3066728 1019888 6072 2226486 1567065 497329 162092 0 0 0 0 114512 70513 32109 11890 4107085 3720196 381698 5191 0 0 0 0 7989077 6428492 1464579 96006 670325 135921 534404 0 FOOD & BEVERAGE COSTS 9554164 9353649 189670 10845 STUDENT SUPPLIES 5201240 5200388 852 0 EQUIPMENT 1840203 1556499 269295 14409 NON FOOD COSTS OF GOODS SOLD 1225908 1176896 48293 719 1434142 415330 967905 50907 146628884 116624842 27483854 2520188 3903149 9962478 10259443 182111 7907200 5349572 3580531 6252646 0 0 0 0 2041058 2094497 2289134 2398359 1725094 2243478 296778097 107506852 189615752 189271245 40285737 73222956 50114215 37983758 14777954 14935608 326499267 343896708 6429288 7133011 1690880 1682991 16490404 18413994 98395000 94995000 0 0 0 0 0 0 0 0 14941401 22040653 137946973 144265649 X 142907016 145312240 22613615 31168055 23031663 23150764 188552294 199631059 326499267 343896708 X 21649361 -10570596 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 102442 102442 0 SchC_P2B_S00_L01 Schedule C, Part II-B, Line 1 LOBBYING EXPENSES ARE FOR PAYMENTS MADE TO A FEDERAL GOVERNMENT RELATIONS FIRM AND A INDEPENDENT LOBBYING GROUP. WE PAY A $10,000 PER MONTH RETAINER PLUS REIMBURSEMENT FOR EXPENSES. 93093298 10946477 -2070038 1814630 0 0 100155107 72902870 9186359 12243586 1239517 0 0 93093298 65209048 564457 8553845 1424480 0 0 72902870 86567388 1873572 -21249091 1982821 0 0 65209048 0.58 0.23 0.19 0 0 0 7373865 7373865 0 226051963 57317417 168734546 0 0 0 0 0 59815282 50189435 9625847 0 3536987 0 3536987 189271245 0 0 PRIVATE EQUITY AND LIMITED PARTNERSHIPS 22657208 F EQUITY SECURITIES 14139453 F LAND AND OTHER 1100000 C COMMINGLED EQUITY AND DEBT FUNDS 87097 F 37983758 0 CURRENT VALUE OF DERIVATIVE 14739495 ACCRUED LIABILITIES 7301158 22040653 168278245 146628884 21649361 -4267959 464664 0 0 -6707739 -10511034 11138327 141561557 -4267959 464664 0 -23507610 -27310905 168872462 170822 -765039 -594217 168278245 130423230 464664 0 0 0 464664 129958566 170822 16499496 16670318 146628884 SchD_P05_S00_L04 Schedule D, Part V, Line 4 THE INSTITUTE HAS A POLICY OF APPROPRIATING FOR DISTRIBUTION EACH YEAR A PERCENTAGE OF ITS ENDOWMENT FUND BASED ON THE FUND'S AVERAGE FAIR VALUE OVER THE PRIOR 12 QUARTERS. THE SPENDING RATE IS 5% FOR FISCAL YEAR 2010-2011. ENDOWNMENT SPENDING IS PRIMARILY USED, TO FUND STUDENT SCHOLARSHIPS AND SOME OPERATING EXPENDITURES. SchD_P10_S00_L02 Schedule D, Part X, Line 2 THE INSTITUTE HAS A TAX DETERMINATION LETTER DATED FEBRUARY 22, 1973, FROM THE INTERNAL REVENUE SERVICE STATING THAT IT QUALIFIES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE. THE INSTITUTE BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX PROVISIONS. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 DEPRECIATION IN FAIR VALUE OF DERIVATIVE ( $-6,810,626) & GAIN ON WRITEOFF OF GIFT ANNUITY OBLIGATION ( $567,551) . RENTAL EXPENSE RECORDED RELATED TO THE SAN ANTONIO GIK LEASE ( $-464,664). THE RENTAL EXPENSE EQUALS THE AMOUNT RECORDED AS REVENUE IN PARTXI, LINE 5 OF SCHEDULE D. THE RENTAL EXPENSE IS A NON-CASH ITEM. SchD_P12_S00_L02d Schedule D, Part XII, Line 2d SCHOLARSHIPS AND GRANTS TO STUDENTS (-17,264,535)..DEPRECIATION IN FAIR VALUE OF DERIVATIVE ( $-6,810,626) & GAIN ON WRITEOFF OF GIFT ANNUITY OBLIGATION ( $567,551) SchD_P12_S00_L04b Schedule D, Part XII, Line 4b FUNDRAISING EXPENSES SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b FUNDRAISING EXPENSES ($ -765,039), NET OF SCHOLARSHIPS AND GRANTS TO STUDENTS, $ 17,264,535.. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SchE_P01_S00_L03 Schedule E, Part I, Line 3 RESPECT FOR DIVERSITY IS ONE OF THE INSTITUTE'S FIVE CORE VALUES. THE INSTITUTE'S RACIAL NONDISCRIMINATORY POLICY IS CLEARLY EXPRESSED ON ALL MATERIALS WHICH ARE USED IN THE SOLICITATION OF PROSPECTIVE STUDENTS. SchE_P01_S00_L06 Schedule E, Part I, Line 6 THE INSTITUTE RECEIVES VARIOUS FEDERAL FUNDS AND STATE GRANTS TO SUBSIDIZE THE STUDENT EDUCATIONAL COSTS. 1 Central America and the Caribbean 0 0 Investments INVESTMENT ACCOUNT IN THE COUNTRY OF BERMUDA 7048696 East Asia and the Pacific 1 3 Program Services EXPENSES FOR A CULINARY EDUCATIONAL PROGRAM IN THE COUNTRY OF SINGAPORE 1694122 Europe (including Iceland and Greenland) 0 0 Program Services INTERNATIONAL COURSES FOR STUDENTS MATRICULATED IN THE INSTITUTE'S FOUR YEAR BACHELOR'S PROGRAM STUDIES. AS PART OF THE STUDENT'S EDUCATIONAL EXPERIENCE, THEY ARE TAKEN ON A 3 WEEK TRIP TO EITHER SPAIN, ITALY or FRANCE. 1952876 East Asia and the Pacific 0 0 Program Services INTERNATIONAL COURSES FOR STUDENTS MATRICULATED IN THE INSTITUTE'S FOUR YEAR BACHELOR'S PROGRAM STUDIES. AS PART OF THE STUDENT'S EDUCATIONAL EXPERIENCE, THEY ARE TAKEN ON A 3 WEEK TRIP TO CHINA. 121922 1 3 10817616 0 0 1 0 0 0 SchF_P01_S00_L02 Schedule F, Part I, Line 2 THE INSTITUTE IS PROVIDING ASSISTANCE TO IT'S SINGAPORE AFFILIATE, AND IT IS CONFIRMED THAT SUCH FUNDS ARE USED FOR EDUCATIONAL PURPOSES. GALA EVENTS 893166 602666 290500 0 0 179684 0 5782 227567 OTHER EVENTS 111613 57594 54019 0 0 20363 73316 31970 226357 0 1004779 660260 344519 0 0 200047 73316 37752 453924 765039 -420520 1 STUDENT SCHOLARSHIPS AND GRANTS. NUMBER OF RECIPIENTS IS ESTIMATED AS FOLLOWS; TOTAL NUMBER OF STUDENTS (2,328) X ESTIMATED PERCENTAGE OF STUDENTS WHO RECEIVE SCHOLARSHIPS AND GRANTS (90%). 2095 17264535 0 BASED ON TUITION COSTS SchI_P01_S00_L02 Schedule I, Part I, Line 2 WHEN DETERMINING THE DISTRIBUTION OF GRANTS AND LOANS TO STUDENTS, THE CULINARY INSTITUTE OF AMERICA COMPLIES WITH THE GUIDELINES OF THE U.S. DEPT. OF EDUCATION - TITLE IV REGULATIONS, NY STATE BOARD OF REGENTS AND THE ACCREDITING COMMISSION OF CAREER SCHOOLS AND COLLEGES OF TECHNOLOGY (ACCSCT) AND MIDDLE STATES ASSOCIATION COMMISSION ON HIGHER EDUCATION. X 1 1 X X X 0 0 0 0 0 0 0 0 0 LAWRENCE T RYAN 531731 0 0 0 119046 0 76616 0 33239 0 760632 0 51331 0 MARK ERICKSON 294944 0 0 0 31078 0 52937 0 28647 0 407606 0 24654 0 BRUCE HILLENBRAND 283875 0 0 0 34754 0 51830 0 23851 0 394310 0 26155 0 PETER RAINSFORD 252000 0 0 0 37250 0 48643 0 9932 0 347825 0 26306 0 CHARLES A OMARA 237151 0 0 0 34877 0 45988 0 12158 0 330174 0 23354 RICHARD MIGNAULT 258125 0 0 0 7385 0 31806 0 23061 0 320377 0 0 0 VICTOR GIELISSE 209425 0 0 0 0 0 28665 0 22249 0 260339 0 0 0 GREGORY DRESCHER 179323 0 0 0 0 0 22658 0 21838 0 223819 0 0 0 NANCY HARVIN 138750 0 0 0 34217 0 21143 0 17847 0 211957 0 23142 0 DRUSILLA BLACKMAN 45138 0 0 0 973 0 5074 0 4010 0 55195 0 0 0 GENEVIEVE S FELDER 141400 0 0 0 67682 0 13083 0 27621 0 249786 0 0 0 CHARLES HENNING 201825 0 0 0 0 0 3105 0 23440 0 228370 0 0 0 DAVID KELLAWAY 196098 0 0 0 0 0 9069 0 27929 0 233096 0 0 0 KATHY MERGET 173362 0 0 0 1523 0 16279 0 27331 0 218495 0 0 0 BRADLEE BARNES 161633 0 0 0 0 0 8543 0 27071 0 197247 0 0 0 JAMES HEISEY 156781 0 0 0 0 0 14221 0 16011 0 187013 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a THE PRESIDENT IS PROVIDED WITH RESIDENTIAL HOUSING ON CAMPUS, FOR THE CONVENIENCE OF THE COLLEGE. FOR PERSONAL SERVICES, A INDEPENDENT CONTRACTOR IS USED TO MAINTAIN AND CLEAN THE PRESIDENT'S RESIDENCE, WHICH IS INSTITUTE PROPERTY. ANY ITEMS THAT ARE FOR THE BENEFIT OF THE COLLEGE ARE NOT INCLUDED IN THE PRESIDENT'S WAGES, ITEMS WHICH ARE FOR THE BENEFIT OF THE PRESIDENT ARE INCLUDED IN HIS WAGES. SchJ_P01_S00_L03 Schedule J, Part I, Line 3 THE BOARD OF TRUSTEES HAS THE OVERALL RESPONSIBILITY FOR THE COMPENSATION REVIEW OF THE PRESIDENT. AN ANNUAL REVIEW IS BASED ON FOUR FACTORS, SUMMATIVE PERFORMANCE APPRAISAL, ACHIEVEMENT OF ANNUAL GOALS, MARKET ANALYSIS AND INSTITUTIONAL NEEDS. THE PRESIDENT SUBMITS A STATUS REPORT ON THE CURRENT YEAR'S GOALS, YEAR END RESULTS AND PROPOSED GOALS FOR THE UPCOMING YEAR. THE COMPENSATION COMMITTEE WILL ALSO RECEIVE APPROPRIATE PEER AND BENCHMARK DATA FROM THE HUMAN RESOURCES OFFICE. THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES WILL REVIEW THE PRESIDENT'S PERFORMANCE AND DISCUSS THEIR CONCLUSIONS ORALLY WITH THE PRESIDENT TO ENSURE THE ACCURATE AND FAIRNESS OF JUDGEMENTS. THE COMPENSATION COMMITTEE WILL THEN DISCUSS ITS CONCLUSIONS AND COMPENSATION RECOMMENDATION WITH THE PRESIDENT. THE PRESIDENT HAS A WRITTEN EMPLOYMENT CONTRACT. THE PRESIDENT HAS THE OVERALL RESPONSIBILITY FOR THE COMPENSATION REVIEW OF THE VICE PRESIDENTS. A MARKET ANALYSIS IS DONE BY THE HUMAN RESOURCES OFFICE WHICH ALSO INCLUDES PEER AND BENCHAMARK DATA. THIS ANALYSIS IS THEN USED AS A TOOL FOR DETERMINING SALARY CHANGES AND IS REVIEWED WITH THE COMPENSATION COMMITTEE PRIOR TO IMPLEMENTATION. THE SCHEDULE J ALSO DETAILS THE TOTAL COMPENSATION PAID TO THE INSTITUTE'S OFFICERS, KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES. THE ABOVE SCHEDULE J, ALSO INCLUDES AMOUNTS CONTRIBUTED AND DISTRIBUTED FROM THE INSTITUTE'S EXECUTIVE COMPENSATION PLAN. ON JUNE 1ST OF EACH YEAR, THE INSTITUTE DEPOSITS AND INVESTS 10% OF EACH EXECUTIVE OFFICER'S BASE PAY INTO A DEFERRED COMPENSATION ASSET PLAN. THE INITIAL VALUE OF THESE DEPOSITS ARE INCLUDED IN THE "DEFERRED COMPENSATION" COLUMN ON SCHEDULE J. VESTING OCCURS 3 YEARS FOLLOWING THE INITIAL DEPOSIT. EVEN THOUGH THIS SCHEDULE RECOGNIZES DEFERRED COMPENSATION AS WAGES EARNED, THIS TYPE OF COMPENSATION MAY BE FORFEITED, IF THE OFFICER IS NO LONGER EMPLOYED AT THE INSTITUTE. YEARLY, THE VESTED DEPOSITS AND ANY ASSOCIATED REALIZED GAINS OR LOSSES WILL BE DISTRIBUTED TO EACH EXECUTIVE OFFICER. THESE DISTRIBUTIONS ARE INCLUDED IN THE "OTHER COMPENSATION" COLUMN IN SCHEDULE J. EFFECTIVELY, THE VALUE OF THE ORIGINAL DEPOSITS ARE BEING REPORTED AS COMPENSATION TWICE ON THE SCHEDULE J. DORM AUTHORITY OF THE STATE OF NEW YORK SERIES 2004A 146000293 64893U4R8 2004-02-11 9663022 REFUNDING 0 0 0 DORM AUTHORITY OF THE STATE OF NEW YORK SERIES 2004B AND 2004C 146003293 64983U7TI 2004-02-11 33452056 CONSTRUCTION 0 0 0 DORM AUTHORITY OF THE STATE OF NEW YORK SERIES 2004D 146000293 64893TZS5 2004-07-22 19000000 CONSTRUCTION 0 0 0 DORM AUTHORITY OF THE STATE OF NEW YORK SERIES 2006 146000293 64983Q000 2006-08-31 15125000 CONSTRUCTION 0 0 0 0 0 9663022 412237 0 8788808 190945 271032 0 0 0 0 1998 0 1 1 1 0 0 33452056 935541 0 0 427136 1088859 0 31000520 0 0 2006 0 0 1 1 0 0 19000000 576398 0 0 219455 557205 0 17646942 0 0 2006 0 0 1 1 0 0 15125000 439385 0 0 242102 435587 0 14007926 0 0 2007 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 1 1 TD BANKNORTH 30 0 0 0 0 0 1 1 1 TD BANKNORTH 30 0 0 0 0 0 1 1 1 TD BANKNORTH 30 0 0 0 0 0 CALIFORNIA STATEWIDE COMMISSION DEVELOPMENT AUTHORITY-SERIES 2008 680164610 130795ZR1 2008-11-18 18200000 CONSTRUCTION AND REFUNDING 0 0 0 0 0 18200000 0 0 11776083 335748 82794 0 6005375 0 0 2009 1 0 1 1 0 0 0 0 0 0 0 1 1 1 1 TD BANKNORTH 30 1 1 0 0 0 X 365 692393 COST X CAPITAL EQUIPMENT 29 423660 COST 0 0 1 0 F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b THE INSTITUTE'S FORM 990 IS PRIMARILY PREPARED BY THE INSTITUTE'S CONTROLLER. ONCE COMPLETED, IT IS THOROUGHLY REVIEWED BY THE SENIOR V.P. OF FINANCE AND INSTITUTE'S INDEPENDENT ACCOUNTING FIRM. AFTER REVISIONS ARE MADE, THE FORM IS THEN PRESENTED TO THE PRESIDENT AND AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. AFTER THE AUDIT COMMITTEE COMPLETES ITS REVIEW, THE FORM 990 IS THEN PRESENTED TO THE BOARD OF TRUSTEES FOR APPROVAL. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c CONFLICTS OF INTEREST FOR BOARD MEMBERS ARE CLEARLY DEFINED BY THE INSTITUTE'S BOARD OF TRUSTEES POLICY MANUAL. TRUSTEES ARE REQUIRED TO DISCLOSE TO THE BOARD ANY POSSIBLE CONFLICT OF INTEREST, AND TO ABSTAIN FROM VOTING ON ANY MATTERS, IN WHICH THEY HAVE A CONFLICT OF INTEREST. INDIVIDUAL TRUSTEES, AND MEMBERS OF THEIR FAMILY OR ANY ORGANIZATION IN WHICH A TRUSTEE OR MEMBER OF HIS OR HER FAMILY IS A STOCKHOLDER, MAY NOT HAVE EXISTING OR POTENTIAL FINANCIAL OR OTHER INTERESTS THAT MIGHT IMPAIR THEIR INDEPENDENT, UNBIASED JUDGMENT IN THE DISCHARGE OF THEIR RESPONSIBILITIES TO THE COLLEGE . THE COLLEGE MAINTAINS A CURRENT COMPLETED CONFLICT OF INTEREST STATEMENT FOR ALL TRUSTEES. THIS REVIEW IS DONE ANNUALLY FOR EACH BOARD MEMBER. THE INSTITUTE'S AUDIT COMMITTEE MONITORS TO ENSURE THAT THERE IS COMPLIANCE WITH THE POLICY. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 THE BOARD OF TRUSTEES HAS THE OVERALL RESPONSIBILITY FOR THE COMPENSATION REVIEW OF THE PRESIDENT. THE REVIEW IS BASED ON THREE FACTORS, SUMMATIVE PERFORMANCE APPRAISAL FOCUSED ON ANNUAL GOALS WITH CONSIDERATION OF THE RESULTS OF AN EVALUATION CONDUCTED, MARKET ANALYSIS, (ESPECIALLY PEER AND OTHER INSTITUTIONS BENCHMARK DATA), AND INSTITUTIONAL NEEDS. THE PRESIDENT SUBMITS A STATUS REPORT ON THE CURRENT YEAR'S GOALS, YEAR END RESULTS AND PROPOSED GOALS FOR THE UPCOMING YEAR. THE BOARD CHAIR WILL ALSO RECEIVE APPROPRIATE PEER AND BENCHMARK DATA FROM THE HUMAN RESOURCES OFFICE. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES WILL REVIEW THE PRESIDENT'S PERFORMANCE AND DISCUSS THEIR CONCLUSIONS ORALLY WITH THE PRESIDENT TO ENSURE THE ACCURATE AND FAIRNESS OF JUDGEMENTS. THE EXECUTIVE COMMITTEE WILL THEN DISCUSS ITS CONCLUSIONS AND COMPENSATION RECOMMENDATION WITH THE PRESIDENT. THE PRESIDENT HAS THE OVERALL RESPONSIBILITY FOR THE COMPENSATION REVIEW OF THE VICE PRESIDENTS. A MARKET ANALYSIS IS DONE BY THE HUMAN RESOURCES OFFICE WHICH ALSO INCLUDES PEER AND BENCHMARK DATA. THIS ANALYSIS IS THEN USED AS A TOOL FOR DETERMINING SALARY CHANGES AND IS REVIEWED WITH THE EXECUTIVE COMMITTEE PRIOR TO IMPLEMENTATION. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 THE FORM 990 AND THE ACCOMPANYING FINANCIAL STATEMENTS ARE READILY AVAILABLE TO THE PUBLIC AS REQUIRED. THESE DOCUMENTS CAN BE OBTAINED UPON REQUEST BY THE PUBLIC OR IS READILY AVAILABLE ON THE INTERNET (WWW. GUIDESTAR.COM). F990_P11_S00_L05 Form 990, Part XI, Line 5 UNREALIZED MARKET LOSSES ( $-4,267,959), GAIN ON ANNUITY OBLIGATION WRITEOFF ($567,551) AND DEPRECIATION IN FAIR VALUE OF DERIVATIVE ( -$6,810,626). ADJUSTMENT FOR BEGINNING EQUITY IN CONSOILDATED AFFILIATE (SINGAPORE SIT OPERATIONS) ( $ -59,562) CIA SAN ANTONIO BEVERAGES LLC 312 PEARL PKWY SAN ANTONIO TX 78215 BEVERAGE CONCESSION MANAGEMENT SERVICES TX 1797 16954 CULINARY INSTITUTE OF AMERICA CIA SAN ANTONIO MANAGEMENT LLC 312 PEARL PKWY SAN ANTONIO TX 78215 BEVERAGE CONCESSION MANAGEMENT SERVICES TX 0 0 CULINARY INSTITUTE OF AMERICA CIA SAN ANTONIO OPERATIONS LLC 312 PEARL PKWY SAN ANTONIO TX 78215 BEVERAGE CONCESSION MANAGEMENT SERVICES TX 0 0 CULINARY INSTITUTE OF AMERICA THE CULINARY INSTITUTE OF AMERICA SINGAPORE LTD BLOCK 26 21 TAMPINES AVENUE 1 SINGAPORE SN 052957 EDUCATION SN 2 N/A 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 THE CULINARY INSTITUTE OF AMERICA SINGAPORE LTD n 583731 ACTUAL COSTS FOR EMPLOYEES WAGES AND BENEFITS THE CULINARY INSTITUTE OF AMERICA SINGAPORE LTD o 331165 ACTAL COSTS FOR OTHER RELATED EXPENSES APPROVED EXTENSIONS WERE GRANTED FOR THE DELAYED FILING