2013-05-14T09:43:41-05:00 2012-06-30 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2011-07-01 381366958 SIENA HEIGHTS UNIVERSITY SIEN 5172647108 1247 EAST SIENA HEIGHTS DRIVE ADRIAN MI 49221 LEE JOHNSON PHD CPA 5172647108 2013-05-13 1 VICKI L VANDENBERG CPA P00100422 2695674500 2011 2016-02-24 21:20:13Z SR PEG ALBERT OP PH 1247 EAST SIENA HEIGHTS DRIVE ADRIAN MI 49221 54427624 0 X WWW.SIENAHEIGHTS.EDU X 1919 MI TO PROVIDE STUDENTS WITH A LIBERAL ARTS EDUCATION WITH THE PURPOSE OF ASSISTING PEOPLE IN BECOMING MORE COMPETENT, PURPOSEFUL AND ETHICAL THROUGH A TEACHING AND LEARNING ENVIRONMENT WHICH RESPECTS THE DIGNITY OF ALL. 33 29 1032 49 81322 -17597 12790553 13603733 31368114 36222927 167775 136306 158065 137363 44484507 50100329 12722043 14118543 0 0 16032894 17904578 32437 3200 882549 8823000 10235788 37610374 42262109 6874133 7838220 42247397 54729282 13844291 19415031 28403106 35314251 THE MISSION OF SIENA HEIGHTS UNIVERSITY, A CATHOLIC UNIVERSITY FOUNDED AND SPONSORED BY THE ADRIAN DOMINICAN SISTERS, IS TO ASSIST PEOPLE TO BECOME MORE COMPETENT, PURPOSEFUL, AND ETHICAL THROUGH A TEACHING AND LEARNING ENVIRONMENT WHICH RESPECTS THE DIGNITY OF ALL. 0 0 36555310 14118543 36149578 SIENA HEIGHTS UNIVERSITY IS A MICHIGAN PRIVATE NON-PROFIT CORPORATION FOR POSTSECONDARY EDUCATION. THE UNIVERSITY PROVIDES EDUCATION WITH A MAIN CAMPUS, SATELLITE CAMPUSES, AND ONLINE FOR BOTH TRADITIONAL AND NONTRADITIONAL STUDENTS OFFERING BACHELOR AND MASTER DEGREE PROGRAMS. THE MAIN CAMPUS ALSO OFFERS AUXILIARY SERVICES IN THE FORM OF HOUSING, MEAL PLANS, AND BOOKSTORE SERVICES. THE UNIVERSITY IS PRIMARILY SUPPORTED THROUGH TUITION, FEDERAL AND STATE GRANTS, AND CONTRIBUTIONS FOR OPERATIONS AND SCHOLARSHIPS 36555310 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 1 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 1 1 1 0 0 1 3742 0 1 1032 1 1 1 0 0 0 0 1 1 0 0 0 0 X 33 29 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MI X J LEE JOHNSON PHD CPA 5172647108 1247 EAST SIENA HEIGHTS DRIVE ADRIAN MI 49221 SISTER PEG ALBERT OP PHD 40.00 X X 178033 0 41000 STEPHANIE L BOYSE 1.00 X 0 0 0 BETTY CUMMINGS 1.00 X 0 0 0 MICHAEL DAWSON MD 1.00 X 0 0 0 JAMES EBBITT 1.00 X 0 0 0 MARIANE FAHLMAN OP PHD 1.00 X 0 0 0 MICHAEL FARVER 1.00 X 0 0 0 JUDITH FRANCOEUR 1.00 X 0 0 0 SCOTT HILL 1.00 X X 0 0 0 JAMES HUGHES 1.00 X 0 0 0 SR CANDACE INTROCASO CDP PHD 1.00 X 0 0 0 FRANK JOHNSON 1.00 X X 0 0 0 MICHAEL L KAPNICK 1.00 X 0 0 0 JOHN LABRIOLA 1.00 X 5049 0 0 MAJOR RUTH LAFONTAINE 1.00 X 0 0 0 DAVID E MAXWELL 1.00 X 0 0 0 DAVID G MENGEBIER 1.00 X 0 0 0 SISTER FRANCES NADOLNY OP PHD 1.00 X 0 0 0 HONORABLE MARGARET MS NOE 1.00 X X 2001 0 0 MARY JO POTTER 1.00 X 0 0 0 KENNETH PRIOR 1.00 X 0 0 0 JAMIE T RICHARDSON 1.00 X 0 0 0 LAWRENCE RICHARDSON JR 1.00 X 0 0 0 DAVID RICHMOND 1.00 X 0 0 0 IQBAL ROSHD 1.00 X 0 0 0 IGNACIO SALAZAR 1.00 X 0 0 0 CORINNE SANDERS OP 1.00 X 0 0 0 KRIS SCHMIDT 1.00 X 0 0 0 JOHN SCHWARTZ 1.00 X 0 0 0 SR ANNELIESE SINNOTT OP PHD 1.00 X 0 0 0 PATRICIA WALTER OP PHD 1.00 X 0 0 0 JOAN MARIE WEITHMAN OP 1.00 X 0 0 0 TIMOTHY JAKACKI 1.00 X 0 0 0 MAURICIO FIGUEIREDO 1.00 X 0 0 0 STEVE FUTRELL 1.00 X 0 0 0 MICHELE GARDNER MD 1.00 X 0 0 0 RICHARD HALLER 1.00 X 0 0 0 LISA OBERLIN 1.00 X 0 0 0 MARY SOHER OP 1.00 X 0 0 0 J LEE JOHNSON PHD CPA 40.00 X 129343 0 22373 MITCHELL BLONDE 40.00 X 113166 0 15062 SHARON WEBER OP 40.00 X 113970 0 5478 PATRICK PALMER 40.00 X 108232 0 20144 649794 0 104057 5 0 1 0 CHARTWELLSCOMPASS GROUP PO BOX 91337 CHICAGO IL 60693 FOOD SERVICE 1201997 SLUSARSKI EXCAVATING & PAVING 119 GREENLY ST ADRIAN MI 49221 EXCAVATING & PAVING SERVICES 587868 COLLABORATIVE INC 500 MADISON AVE TOLEDO OH 43604 ARCHITECTURAL, LANDSCAPE DESIGN 557192 MB ELECTRIC LLC 1155 W BEECHER ST ADRIAN MI 49221 ELECTRICAL SERVICES 445768 NCS PEARSON INC 13036 COLLECTIONS CENTER CHICAGO IL 60693 ONLINE CLASSES EXCHANGE 373865 8 21287 500 6833502 6748444 13603733 TUITION AND FEES 611710 32169821 32169821 AUXILIARY 611710 3971784 3971784 CONFERENCES & CAMPS 721210 81322 81322 36222927 131010 131010 7973 0 7973 7973 7973 4099113 4093817 5296 5296 5296 29590 21287 27469 2121 2121 224938 206009 18929 18929 MISCELLANEOUS 900099 108340 108340 108340 50100329 36149578 81322 265696 14039743 14039743 78800 78800 814754 95825 416561 302368 12677288 11176697 1223763 276828 679775 572095 106865 815 2730561 2188606 536772 5183 1002200 830110 171079 1011 33965 33965 76000 76000 51809 51809 3200 3200 55748 55748 2382373 1604850 777080 443 253822 206223 40861 6738 327055 242690 76610 7755 162883 38707 68731 55445 4168 4168 1434301 1105018 303491 25792 352660 252877 50121 49662 368601 340900 14574 13127 1486252 1188185 251971 46096 347259 252138 84663 10458 ACTIVITIES 1356153 1298419 21217 36517 REPAIRS AND MAINTENANCE 267882 228344 33876 5662 DUES AND SUBSCRIPTIONS 260024 96429 152299 11296 BAD DEBT 251372 251372 763461 714486 24822 24153 42262109 36555310 4824250 882549 2829197 2092751 4479811 7470880 942160 1207642 39629 54064 995019 1261714 54894522 20307701 24534849 34586821 8186841 7820061 239891 235349 42247397 54729282 2630783 2522733 1456898 1467860 8470000 13571392 822127 974877 464483 878169 13844291 19415031 X 13071116 20067790 8912905 8696433 6419085 6550028 28403106 35314251 42247397 54729282 X 7838220 -927074 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 0 0 1 51809 51809 0 EXPLANATION OF LOBBYING ACTIVITIES: PART II-B, LINE 1: THE MWW GROUP, INC. 1 MEADOWLANDS PLAZA, EAST RUTHERFORD, NEW JERSEY 07073 $50,000 RETAINER FEE $1,809 MISCELLANEOUS EXPENSES 8273882 181646 -163453 331191 2497 7958387 6818538 326693 1204017 1158 74208 8273882 5826019 208974 794605 11060 6818538 7660809 142172 -1543115 -419404 -14443 5826019 0.00440 0.82300 0.17260 0 0 318500 701549 1020049 440132 29933536 10059364 20314304 600839 600839 16578733 10248337 6330396 40680 6280553 6321233 34586821 ANNUITIES PAYABLE 29173 CONDITIONAL ASSET RETIREMENT OBLIGATION 168518 FAIR VALUE OF INTEREST RATE SWAP 644478 RELATED PARTY MORTGAGE 36000 878169 50100329 42262109 7838220 -300250 -626824 -927074 6911146 35366990 -300250 -626824 -927074 36294064 13806265 13806265 50100329 28455845 233478 233478 28222367 14039743 14039743 42262110 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THIS ENDOWMENT IS USED BY THE ORGANIZATION TO PROVIDE SCHOLARSHIPS TO WORTHY INDIVIDUALS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE UNIVERSITY IS A NOT-FOR-PROFIT CORPORATION AND HAS BEEN RECOGNIZED AS TAX EXEMPT PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE UNIVERSITY AND RECOGNIZE A TAX LIABILITY IF THE UNIVERSITY 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 THE UNIVERSITY AND HAS CONCLUDED THAT AS OF JUNE 30, 2012 AND 2011, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE UNIVERSITY IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO JUNE 30, 2009. PART XI, LINE 8 - OTHER ADJUSTMENTS: UNREALIZED GAIN ON VALUE OF INTEREST RATE SWAPS -411,376. CHANGE IN FAIR VALUE OF PLEDGED RECEIVABLES -215,448. TOTAL TO SCHEDULE D, PART XI, LINE 8: -626,824. PART XII, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED LOSS ON INTEREST RATE SWAP -411,376. CHANGE IN FAIR VALUE OF PLEDGES RECEIVABLE -215,448. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL STUDENT AID 14,039,743. FUNDRAISING EXPENSES -27,469. GAMING EXPENSE -206,009. PART XIII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 27,469. GAMING EXPENSE 206,009. PART XIII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL STUDENT AID 14,039,743. 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 POLICY IS PUBLICIZED ON ADMISSIONS BROCHURES AND COURSE CATALOGS, AS WELL AS ON THE SCHOOL WEBSITE WHICH IS AVAILABLE TO THE PUBLIC. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 SIENA HEIGHTS UNIVERSITY RECEIVED FEDERAL FUNDS FOR FINANCIAL AID FOR ITS STUDENTS AND TRIO PROGRAM FUNDS FOR THREE FEDERAL PROGRAMS. 1 0 0 0 0 0 0 0 0 0 SUB-SAHARAN AFRICA LEASING SPACE 40000 WIRE TRANSFER SUB-SAHARAN AFRICA SUPPLIES, SCHOLARSHIPS & BOOKS FOR NURSING PROGRAM 38800 WIRE TRANSFER 1 0 0 0 0 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: IN THE AGREEMENT THE USE OF FUNDS AND REPORTING REQUIREMENTS ARE SPECIFIED. A WRITTEN REPORT ON THE USE OF THE FUNDS WAS DUE BY 08/15/2012 AND THE SECOND REPORT ON THE USE OF ANY FUNDS NOT SPENT WAS DUE BY 10/01/2012 WAS DUE BY 11/15/2012. SUMMER SPECTACULAR EVENT SCHOLARSHI 50877 21287 29590 1820 4119 11228 3114 7188 50877 21287 29590 1820 4119 11228 3114 7188 27469 2121 224938 185551 19658 800 0 224938 185551 19658 800 206009 18929 MI 1 0 0 0 1.00000 LAURA KLUTSARITS 1247 EAST SIENA HEIGHTS DRIVE ADRIAN MI 49221 1 224938 19658 SNOOKERS POOL & PUB 45100 NORTHPOINTE BLVD UTICE MI 48315 LAURA KLUTSARITS 0 FILES PAPERWORK AND OVERSEES EVENT X 0 1 SCHOLARSHIP - TUITION/BOOKS 2018 14039743 N/A N/A X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 SISTER PEG ALBERT OP PHD 178033 0 0 0 0 0 0 0 41000 0 219033 0 0 0 J LEE JOHNSON PHD CPA 129343 0 0 0 0 0 0 0 22373 0 151716 0 0 0 PART I, LINE 1A THE PRESIDENT OF THE UNIVERSITY LIVES IN A HOUSE THAT IS OWNED BY THE UNIVERSITY. ALL EXPENSES, INCLUDING UTILITIES, ARE PAID BY THE UNIVERSITY. THE PRESIDENT IS TAX-EXEMPT DUE TO HER RELIGIOUS STATUS. ECONOMIC DEVELOPMENT CORP OF THE COUNTY OF LENAWEE 521302758 526010ADF 2009-04-28 8700000 TO FINANCE REFUNDING FOR SERIES 2006 BONDS 0 0 0 ECONOMIC DEVELOPMENT CORP OF THE COUNTY OF LENAWEE 521302758 2010-12-21 5526392 CONSTRUCTION 0 0 0 8700000 273375 8426625 2009 1 0 1 1 5526392 289650 5526392 2013 0 0 0 1 0 0 0 0 1 0 0 0 0 1 1 1 1 FIRST AMERICAN BANK 10.000000000000 0 0 0 0 0 1 1 1 FIRST AMERICAN BANK 10.000000000000 0 0 0 0 0 X KRIEGHOFF LENAWEE COMPANIES TRUSTEE 1336670 SCOTT HILL IS A STOCKHOLDER OF KRIEGHOFF LENAWEE COMPANIES. KRIEGHOFF LENAWEE PROVIDED CONSTRUCTION SERVICES FOR THE ORGANIZATION. 0 CONSUMERS ENERGY TRUSTEE 403658 DAVID MENGEBIER IS A SR. VP GOVERNMENTAL & PUBLIC AFFAIRS OF CONSUMERS ENERGY CO. THE ORGANIZATION ENTERED INTO A CONTRACT WITH CONSUMERS ENERGY CO. 0 KAPNICK INSURANCE TRUSTEE 150733 MIKE KAPNICK THE CFO/COO OF KAPNICK INSURANCE GROUP. KAPNICK INSURANCE PROVIDES INSURANCE AND FLEX SPENDING SERVICES. 0 SISTER FRANCES NADOLNY OP PHD TRUSTEE SISTER FRANCES IS THE CHAPTER PRIORESS OF THE GREAT LAKES DOMINICAN MISSION CHAPTER OF THE ADRIAN DOMINICAN SISTERS CONGREGATION. SISTER FRANCES IS PROVIDED WITH A STIPEND TO COVER HER BASIC LIVING EXPENSES BY THE ADRIAN DOMINICAN SISTERS. 0 CINDY HILL WIFE OF SCOTT HILL, TRUSTEE 32480 CINDY HILL RECEIVED COMPENSATION AS THE WOMEN'S LACROSSE COACH. 0 SISTER JOAN MARIE WEITHMAN OP TRUSTEE SISTER JOAN MARIE IS A MEMBER OF THE ADRIAN DOMINICAN SISTERS CONGREGATION. SISTER JOAN MARIE IS PROVIDED WITH A STIPEND TO COVER HER BASIC LIVING EXPENSES BY THE ADRIAN DOMINICAN SISTERS. 0 SISTER ANNELIESE SINNOTT OP PHD TRUSTEE SISTER ANNELIESE IS A MEMBER OF THE ADRIAN DOMINICAN SISTERS CONGREGATION. SISTER ANNELIESE IS PROVIDED WITH A STIPEND TO COVER HER BASIC LIVING EXPENSES BY THE ADRIAN DOMINICAN SISTERS. 0 SISTER PATRICIA WALTER OP PHD TRUSTEE SISTER PATRICIA IS A MEMBER OF THE ADRIAN DOMINICAN SISTERS CONGREGATION. SISTER PATRICIA IS PROVIDED WITH A STIPEND TO COVER HER BASIC LIVING EXPENSES BY THE ADRIAN DOMINICAN SISTERS. 0 SISTER PEG ALBERT OP PHD SISTER PEG IS THE PRESIDENT OF THE UNIVERSITY SISTER PEG IS A MEMBER OF THE ADRIAN DOMINICAN SISTERS CONGREGATION. SISTER PEG IS PAID A SALARY WHICH IS GIVEN DIRECTLY TO THE ADRIAN DOMINICAN SISTERS. SHE IS THEN PROVIDED WITH A STIPEND TO COVER HER BASIC LIVING EXPENSES BY THE ADRIAN DOMINICAN SISTERS. 0 SISTER MARIANE FAHLMAN OP PHD TRUSTEE SISTER MARIANE IS A MEMBER OF THE ADRIAN DOMINICAN SISTERS CONGREGATION. SISTER MARIANE IS PROVIDED WITH A STIPEND TO COVER HER BASIC LIVING EXPENSES BY THE ADRIAN DOMINICAN SISTERS. 0 SISTER CORINNE SANDERS OP EDD TRUSTEE SISTER CORINNE IS ON THE GENERAL COUNCIL OF THE ADRIAN DOMINICAN SISTERS CONGREGATION. SISTER CORINNE IS PAID A SALARY BY THE ADRIAN DOMINICAN SISTERS. 0 JOAN EBBITT SISTER OF JAMES EBBITT, TRUSTEE 42630 JOAN EBBIT RECEIVED COMPENSATION AS THE DIRECTOR OF COUNSELING FOR THE UNIVERITY 0 FORM 990, PART VI, SECTION A, LINE 2 SCOTT HILL AND STEPHANIE BOYSE ARE TRUSTEES OF SIENA HEIGHTS UNIVERSITY AND ARE BOARD MEMBERS OF UNITED BANK & TRUST. SCOTT HILL HAS A BUSINESS RELATIONSHIP WITH THE FOLLOWING INDIVIDUALS: STEPHANIE BOYSE, SR. CORINNE SANDERS, OP, ED.D., KENNETH PRIOR, MIKE KAPNICK, TIMOTHY JAKACKI, AND MICHAEL FARVER. KRIS SCHMIDT AND MIKE KAPNICK HAVE A BUSINESS RELATIONSHIP. IGNACIO SALAZAR AND STEVE FUTRELL HAVE A BUSINESS RELATIONSHIP. RICHARD HALLER AND MIKE KAPNICK HAVE A BUSINESS RELATIONSHIP. TIMOTHY JAKACKI AND SCOTT HILL HAVE A BUSINESS RELATIONSHIP AND MICHAEL KAPNICK IS A BOARD MEMBER FOR THE COMPANY THAT SCOTT HILL USES. DAVID RICHMOND AND MITCH BLONDE HAVE A BUSINESS RELATIONSHIP. DAVID MENEGEBIER HAS A BUSINESS RELATIONSHIP WITH SR. PEG ALBERT, STEPHANIE BOYCE, MICHELE GARDNER, SCOTT HILL, TIMOTHY JAKACKI, MICHAEL KAPNICK, THE HONORABLE MARGARET NOE, SR. CORINNE SANDERS AND KRIS SCHMIDT. SR PATRICIA WALTER HAS A BUSINESS RELATIONSHIP WITH THE OTHER ADRIAN DOMINICANS ON THE BOARD. FORM 990, PART VI, SECTION A, LINE 6 THE ENTITY IS ORGANIZED ON A MEMBERSHIP BASIS. FORM 990, PART VI, SECTION A, LINE 7A THE ADRIAN DOMINICAN SISTERS HAVE THE EXCLUSIVE RIGHT TO ELECT TRUSTEES TO THE BOARD OF TRUSTEES AND REMOVE ANY TRUSTEE AT ANY TIME IF THEY BELIEVE IT IS IN THE BEST INTEREST OF THE CORPORATION TO DO SO. FORM 990, PART VI, SECTION A, LINE 7B THE ADRIAN DOMINICAN SISTERS HAVE THE EXCLUSIVE RIGHT TO EXERCISE THE RESERVED POWERS BESTOWED UPON THEM PURSUANT TO THE SIENA HEIGHTS UNIVERSITY BYLAWS. THESE RESERVED POWERS INCLUDE THE FOLLOWING: (A)APPROVE THE MISSION, PURPOSES AND PHILOSOPHY OF THE CORPORATION; (B)ELECT TRUSTEES TO THE BOARD OF TRUSTEES IN ACCORDANCE WITH THE PROCEDURES SET FORTH IN ARTICLE V, SECTION 3; (C)REMOVE ANY TRUSTEE AT ANY TIME IF THEY BELIEVE IT IS IN THE BEST INTEREST OF THE CORPORATION TO DO SO; (D)REVIEW AND COMMENT ON ALL ANNUAL OPERATING AND CAPITAL BUDGETS DEVELOPED BY THE BOARD OF TRUSTEES PRIOR TO THEIR ADOPTION BY THE BOARD, AND ALL NON-BUDGETED OPERATING EXPENSES AND CAPITAL EXPENDITURES IN EXCESS OF AN AMOUNT DETERMINED FROM TIME TO TIME BY THE MEMBERS; (E)AUTHORIZE AND/OR APPROVE ANY INCURRENCE, ASSUMPTION, OR GUARANTEE OF DEBT IN EXCESS OF AN AMOUNT DETERMINED FROM TIME TO TIME BY THE MEMBERS; (F)AUTHORIZE AND/OR APPROVE THE ENCUMBRANCE, SALE, LEASE OR OTHER DISPOSITION OF ANY REAL ESTATE OR THE SALE OF ALL OR SUBSTANTIALLY ALL OF THE CORPORATION'S ASSETS; (G)AUTHORIZE AND/OR APPROVE CONTRACTS THAT CALL FOR EXPENDITURES OF SUMS IN EXCESS OF AN AMOUNT DETERMINED FROM TIME TO TIME BY THE MEMBERS; (H)AUTHORIZE AND/OR APPROVE THE MERGER OR CONSOLIDATION OF THE CORPORATION WITH OR INTO ANOTHER ENTITY; (I)APPOINT AND REAPPOINT THE PRESIDENT, AND REMOVE THE PRESIDENT IF THEY BELIEVE IT IS IN THE BEST INTEREST OF THE CORPORATION TO DO SO; (J)REMOVE OTHER OFFICERS OF THE CORPORATION IF THEY BELIEVE IT IS IN THE BEST INTEREST OF THE CORPORATION TO DO SO; (K)AUTHORIZE AND/OR APPROVE THE CREATION OF SUBSIDIARIES OR AFFILIATES OF THE CORPORATION OR THE CORPORATION'S PARTICIPATION IN JOINT VENTURES; (L)AUTHORIZE AND/OR APPROVE ANY AMENDMENTS TO THE CORPORATION'S ARTICLES OF INCORPORATION AND/OR BYLAWS AFTER CONSULTING WITH THE BOARD OF TRUSTEES; AND (M)AUTHORIZE AND/OR APPROVE THE DISSOLUTION OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 WAS PRESENTED TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO BEING SUBMITTED TO THE IRS. QUESTIONS AND COMMENTS WERE SOLICITED FROM THE BOARD TO ENSURE THE COMPLETENESS AND ACCURACY OF THIS FORM. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES COMPLETE WRITTEN CONFLICTS ANNUALLY. DIFFERENT STANDING COMMITTEES OF THE BOARD OF TRUSTEES MONITOR AND REVIEW CONFLICTS OF INTEREST FOR KEY EMPLOYEES AND TRUSTEES ANNUALLY. IF A CONFLICT ARISES, THE TRUSTEE SHALL ABSTAIN FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION FOR THE PRESIDENT IS DETERMINED BY A SUB-COMMITTEE (COMPENSATION COMMITTEE) OF THE BOARD OF TRUSTEES. THIS COMMITTEE MEETS AFTER THE PERFORMANCE REVIEW IS COMPLETED FOR THE PRESIDENT. IF A RAISE IS WARRANTED, THE PRESIDENT CAN DECLINE BASED ON UNIVERSITY DETERMINATION OF INCREASES FOR THE ENTIRE STAFF. COMPENSATION FOR ALL EMPLOYEES IS COMPARED TO CUPA STANDARDS AND ANNUAL RAISES FOR THE COMMUNITY AT-LARGE IS DETERMINED BY THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES. FISCAL YEAR 2012 WAS THE MOST RECENT YEAR THIS PROCESS WAS UNDERTAKEN. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ORGANIZATIONAL DOCUMENTS AVAILABLE AT THE SIENA HEIGHTS UNIVERSITY LIBRARY AND THROUGH THE UNIVERSITY'S WEBSITE. FURTHER, ALL ORGANIZATIONAL DOCUMENTS ARE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -300,250. UNREALIZED GAIN ON VALUE OF INTEREST RATE SWAPS -411,376. CHANGE IN FAIR VALUE OF PLEDGED RECEIVABLES -215,448. TOTAL TO FORM 990, PART XI, LINE 5: -927,074. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. ADRIAN DOMINICAN SISTERS 1257 E SIENA HEIGHTS DR ADRIAN MI 49221 CATHOLIC RELIGIOUS ORDER MI 501(C)(3) LINE 1 N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 ADRIAN DOMINICAN SISTERS O 238032 ACTUAL EXPENSES INCURRED