2013-05-15T10:49:21-05:00 2012-06-30 273858252 DEAN DORTON ALLEN FORD PLLC 106 W VINE STREET SUITE 600 LEXINGTON KY 40507 990 2011-07-01 610444695 GEORGETOWN COLLEGE GEOR 5028638016 400 EAST COLLEGE STREET GEORGETOWN KY 40324 JAMES MOAK 5028638016 2013-05-15 1 PAULA C HANSON P00161575 8592552341 2011 2016-02-24 21:20:13Z JAMES MOAK 400 EAST COLLEGE STREET GEORGETOWN KY 40324 64254859 0 X WWW.GEORGETOWNCOLLEGE.EDU X 1829 KY GEORGETOWN COLLEGE IS A FULLY ACCREDITED LIBERAL ARTS INSTITUTION OF HIGHER LEARNING 26 15 1153 59 438488 -228450 6436228 4915734 37798436 39176673 576218 2134638 8948042 9374382 53758924 55601427 19515594 20969965 0 0 19740313 20034663 0 67904 1390450 15262287 16209145 54518194 57281677 -759270 -1680250 99582362 97779618 55900003 62015131 43682359 35764487 X GEORGETOWN COLLEGE IS A FULLY ACCREDITED LIBERAL ARTS INSTITUTION OF HIGHER LEARNING LOCATED IN GEORGETOWN, KENTUCKY. THE COLLEGE IS COMMITTED TO PROVIDING OPPORTUNITIES FOR EXCELLENCE IN HIGHER LEARNING UNDER CHRISTIAN INFLUENCES SO AS TO AFFORD ITS STUDENTS A QUALITY EDUCATION IN SELECTED BRANCHES OF KNOWLEDGE, ESPECIALLY THE LIBERAL ARTS AND SCIENCES, WITH A HEALTHY INTEREST IN THE PROFESSIONS. 0 0 48139136 20969965 45573158 OPERATION OF A HIGHER EDUCATIONAL INSTITUTION PROVIDING EDUCATION, HOUSING, AND FOOD SERVICES TO STUDENTS AND FACULTY. THE COLLEGE EDUCATED 1,273 UNDERGRADUATE AND 545 GRADUATE STUDENTS FOR THE YEAR ENDED 6/30/12. 48139136 1 1 0 1 0 0 0 1 0 1 1 0 0 1 1 1 1 0 1 0 1 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 1 1 1 1 1 0 0 0 0 1 1 0 0 0 1 2671 0 1 1153 1 1 1 0 0 0 0 1 1 0 0 0 0 X 26 15 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 1 0 KY X X JAMES MOAK 5028637970 400 EAST COLLEGE STREET GEORGETOWN KY 40324 BOB HOOK 2.00 X 0 0 0 CARROLL STEVENS 2.00 X 0 0 0 DAVID JONES 2.00 X 0 0 0 DAVID TRAVIS 2.00 X 0 0 0 DOUGLAS FREEMAN 2.00 X 0 0 0 EARL GOODE 2.00 X 0 0 0 FRANK PENN 2.00 X 0 0 0 FRED BROWNING 2.00 X 0 0 0 GERALD PARKER 2.00 X 0 0 0 GUTHRIE TRUE 2.00 X 0 0 0 JACK REED 2.00 X 0 0 0 JAMES SHEPHERD 2.00 X 0 0 0 JAMIE HARGROVE 2.00 X 0 0 0 JANICE SHELTON 2.00 X 0 0 0 JOHN STEMPEL 2.00 X 0 0 0 JOHN WARD 2.00 X 0 0 0 MISSY MATTHEWS 2.00 X 0 0 0 NICOLLE B COLLINSON 2.00 X 0 0 0 NORMAN DANIELS 2.00 X 0 0 0 PAIGE SHORT 2.00 X 0 0 0 RANDY FOX 2.00 X 0 0 0 REZA HASHAMPOUR 2.00 X 0 0 0 RICHARD GAINES 2.00 X 0 0 0 RANDY FIELDS 2.00 X 0 0 0 SHEILA BAILEY 2.00 X 0 0 0 WADE DOSHIER 2.00 X 0 0 0 WILLIAM J HOUSTON 2.00 X 0 0 0 TODD SKAGGS 2.00 X 0 0 0 BOB HEIB 2.00 X 0 0 0 GJ HART 2.00 X 0 0 0 GRANETTA BLEVINS 2.00 X 0 0 0 GREG BARR 2.00 X 0 0 0 HOWARD ENSOR 2.00 X 0 0 0 BOB COLEMAN 2.00 X 0 0 0 ROBERT DOTY 2.00 X 0 0 0 ROSEMARY ALLEN 50.00 X 124699 0 8551 WILLIAM H CROUCH JR 50.00 X 251452 0 11785 DARRYL CALLAHAN 50.00 X 137077 0 8874 JAMES MOAK 50.00 X 136341 0 9011 GARVEL KINDRICK 50.00 X 90317 0 6268 TODD GAMBILL 50.00 X 116350 0 8242 JAMES ALLISON 50.00 X 82504 0 6812 ROBIN OLDHAM 50.00 X 66606 0 6226 ROY LOWDENBACK 50.00 X 97009 0 3781 BRIAN EVANS 50.00 X 86228 0 7050 DAVID FORMAN 50.00 X 101374 0 7202 THOMAS COOPER 50.00 X 100146 0 7509 ANN C BOND 50.00 X 100000 0 5603 1490103 0 96914 7 0 1 0 SODEXO MANAGEMENT INC 299 KINGS DAUGHTERS DR FRANKFORT KY 40601 DINING SERVICES 3020834 BLACKBOARD INC 100 STADIUM DR GEORGETOWN KY 40324 SOFTWARE SUPPORT 193119 MADE FROM SCRATCH INC 100 STADIUM DR GEORGETOWN KY 40324 CATERING 189307 ERNEST TODD MAPLES 150 JESSELIN LEXINGTON KY 40503 CONSTRUCTION/REPAIR 174367 JENZABAR INC PO BOX 55018 BOSTON MA 02205 SOFTWARE SUPPORT 157942 9 1217657 3698077 133212 4915734 TUITION AND FEES 611710 39176673 39176673 39176673 1501974 1501974 100607 46351 54256 54256 4256 50000 5868502 5066867 168971 801635 -168971 632664 632664 5860652 3371243 2489409 2489409 AUXILIARY ENTERPRISES 611710 5399757 5399757 ATHLETICS 713940 224275 224275 CAPITAL PROJECTS 611710 188000 188000 1018685 584453 434232 6830717 55601427 45573158 438488 4674047 20969965 20969965 1219506 1219506 15100673 12460720 1805071 834882 3714484 2970718 603837 139929 21067 21067 79482 79482 67904 67904 824954 458033 348693 18228 113727 7555 106172 3813235 3632310 107981 72944 301918 301918 1737223 509766 1227457 173425 61418 89017 22990 2107371 1940983 166388 2678099 2678099 385404 87646 297758 REPAIRS & MAINTENANCE 936077 23852 912225 ATHLETIC PROGRAMS 846894 846894 STUDENT PROGRAMS 816665 816665 MISCELLANEOUS 448056 170216 231266 46574 925548 202378 642343 80827 57281677 48139136 7752091 1390450 1605257 1107291 103808 78407 1447711 1980443 3341151 2903481 685822 616862 573158 493276 93062486 48236507 44031391 44825979 40559984 38927802 7234080 6846077 99582362 97779618 2952079 2995008 1767575 1559263 37460000 38580667 254039 1187439 13466310 17692754 55900003 62015131 X -1467152 -7282581 8856249 8553199 36293262 34493869 43682359 35764487 99582362 97779618 X -1680250 -6237622 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 471 471 0 EXPLANATION OF LOBBYING ACTIVITIES: PART II-B, LINE 1: THE COLLEGE PAYS DUES TO VARIOUS ASSOCIATIONS OF WHICH A PERCENTAGE OF THOSE DUES ARE USED FOR LOBBYING PURPOSES. DUES PAID TO THE NATIONAL ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES WERE $4,147 OF WHICH 6% WAS USED FOR LOBBYING PURPOSES. DUES PAID TO THE KENTUCKY CHAMBER OF COMMERCE WERE $965 OF WHICH 15% WAS USED FOR LOBBYING PURPOSES. DUES PAID TO THE KENTUCKY SOCIETY OF CPAS WERE $245 OF WHICH 10% WAS USED FOR LOBBYING PURPOSES. DUES PAID TO THE AMERICAN BAR ASSOCIATION WERE $399 OF WHICH 2.5% WAS USED FOR LOBBYING PURPOSES. DUES PAID TO THE ASSOCIATION OF FUNDRAISING PROFESSIONALS WERE $275 OF WHICH 3.9% WAS USED FOR LOBBYING PURPOSES. DUES PAID TO THE COMMERCE LEXINGTON WERE $650 OF WHICH 5% WAS USED FOR LOBBYING PURPOSES. 996559 X X X X ART HISTORY AND STUDIO 0 36289461 200795 -751303 -1408903 34330050 30044170 1043184 6364813 1162706 36289461 29348535 284652 540024 129041 30044170 30157392 417706 -1110022 116541 29348535 0.03780 0.83440 0.12780 1 0 1049825 1049825 58925742 22006473 36919269 5694256 4899839 794417 25705081 20713054 4992027 1687582 617141 1070441 44825979 BOND ISSUANCE COSTS 348838 FUNDS HELD IN TRUST BY OTHERS 5968551 OTHER ASSETS 528688 6846077 DEPOSITS AND AGENCY FUNDS 1038667 ADVANCES FOR STUDENT LOANS 1580863 ASSET RETIREMENT OBLIGATION 1124804 INTEREST RATE SWAP AGREEMENT 9658831 POST RETIREMENT BENEFIT OBLIGATION 1785595 ANNUITY PMT LIABILITY 2503994 17692754 55601427 57281677 -1680250 -1947756 -4289866 -6237622 -7917872 36101300 -1947756 3417594 1469838 34631462 20969965 20969965 55601427 44019172 7707460 7707460 36311712 20969965 20969965 57281677 PART III, LINE 4: THE DR. DONALD L. AND DOROTHY JACOBS COLLECTION AT GEORGETOWN COLLEGE IS A PERMANENT GALLERY OF MORE THAN 100 MODERN AND CONTEMPORARY WORKS OF ART, ALONG WITH AN OUTSTANDING COLLECTION OF ARTIFACTS FROM FIVE CONTINENTS. THE PERMANENT COLLECTION AT GEORGETOWN COLLEGE COMPRISES APPROXIMATELY 200 WORKS OF ART, DATING FROM THE SIXTEENTH-CENTURY THROUGH 2009, WITH THE MAJORITY OF PIECES HAVING BEEN CREATED IN THE TWENTIETH CENTURY. GEORGETOWN COLLEGE ALUMNI AND THE ARTIST DONATED MANY OF THE PIECES, HOWEVER THE COLLECTION CONTAINS A FEW PIECES FROM NOTED ARTISTS, SUCH AS SALVADOR DALI, ANDO HIROSHIGE, JASPER JOHNS, PIERRE AUGUSTE RENOIR, AND GEORGE TURNER. THE ANN WRIGHT WILSON FINE ARTS GALLERY AND THE COCHENOUR GALLERY AT GEORGETOWN COLLEGE OFFER TEMPORARY EXHIBITIONS YEAR ROUND FEATURING THE WORK OF INTERNATIONAL, NATIONAL AND REGIONAL ARTISTS. THE LIVE.LEARN.BELIEVE. OUTDOOR SCULPTURE EXHIBITION EXEMPLIFIES QUALITY SCULPTURE, BEAUTIFIES THE COLLEGE CAMPUS, EXPOSES STUDENTS AND VISITORS TO ARTWORK THAT IS OPENLY ACCESSIBLE AND OUTSIDE OF CONVENTIONAL GALLERY SPACE, AND PROVIDES AN ENVIRONMENT FOR INTELLECTUAL GROWTH WHERE STUDENTS AND THE COMMUNITY CAN VIEW AND LEARN ABOUT ART. THESE COLLECTIONS ARE AVAILABLE FOR STUDY AND USE BY THE COLLEGE AND COMMUNITY AND SUPPLEMENT THE ACADEMIC PROGRAM THROUGH A CULTURAL ENRICHMENT PROGRAM OFFERING INTELLECTUAL, CULTURAL, AND RELIGIOUS EXPERIENCES AND ENABLE MEMBERS OF THE COLLEGE COMMUNITY TO BROADEN THEIR AWARENESS OF CULTURAL DIVERSITY. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ENDOWMENT FUNDS ARE AMOUNTS RECEIVED FROM DONORS WHOSE INCOME IS DESIGNATED FOR A SPECIFIC PURPOSE OF THE COLLEGE. ALMOST ALL OF THE INVESTMENT INCOME EARNED BY THESE FUNDS SUPPORTS SCHOLARSHIPS AND THE BUDGET OF THE COLLEGE. SOME SMALLER AMOUNTS ARE DESIGNATED FOR FACULTY AWARDS, FACULTY OR STUDENT SCHOLARSHIP TRAVEL AND OTHER MISCELLANEOUS PURPOSES RELATED TO THE COLLEGE'S EDUCATIONAL MISSION. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE COLLEGE HAS EVALUATED THE TAX POSITIONS TAKEN ON ALL INCOME TAX RETURNS THAT REMAIN OPEN TO EXAMINATION BY THE RESPECTIVE TAXING AUTHORITIES (THOSE RETURNS FILED FOR THE YEARS 2009 THROUGH 2011) AND DOES NOT BELIEVE THERE ARE ANY UNCERTAIN POSITIONS ON THOSE RETURNS THAT SHOULD IMPACT THE FINANCIAL STATEMENTS. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN FMV OF SWAP AGREEMENT -3,797,803. ADJUSTMENT FOR ACTUARIAL LIABILITY FOR ANNUITIES AND LIFE INCOME FUNDS -492,063. TOTAL TO SCHEDULE D, PART XI, LINE 8: -4,289,866. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD NETTED AGAINST REVENUE ON FORM 990 3,371,243. RENTAL EXPENSES NETTED AGAINST REVENUE ON FORM 990 46,351. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS NETTED AGAINST TUITION REVENUE ON FINANCIAL STATEMENTS 20,969,965. PART XIII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD NETTED AGAINST REVENUE ON FORM 990 3,371,243. RENTAL EXPENSES NETTED AGAINST REVENUE ON FORM 990 46,351. ADJUSTMENT FOR ACTUARIAL LIABILITY FOR ANNUITIES AND LIFE INCOME FUNDS 492,063. CHANGE IN FMV OF INTEREST RATE SWAP 3,797,803. PART XIII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS NETTED AGAINST TUITION REVENUE ON FINANCIAL STATEMENTS 20,969,965. 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 PRINT ADVERTISING FOR GEORGETOWN COLLEGE THAT TARGETS PROSPECTIVE STUDENTS INCLUDES THE STATEMENT "GEORGETOWN COLLEGE ADMITS STUDENTS OF ANY RACE, COLOR AND NATIONAL OR ETHNIC ORIGIN." THE SAME STATEMENT APPEARS ON APPLICATIONS FOR ADMISSION, THE COLLEGE CATALOGUE AND OTHER PRINTED MATERIALS, E.G. BROCHURES AND FLYERS, DISTRIBUTED TO PROSPECTIVE STUDENTS. GEORGETOWN COLLEGE HAD A VERY LIMITED BROADCAST CAMPAIGN TO ATTRACT GRADUATE STUDENTS AND IT MAY NOT HAVE INCLUDED THAT STATEMENT. THE COLLEGE HAS TAKEN STEPS SO THAT IT WON'T HAPPEN AGAIN IN THE FUTURE. THE COLLEGE'S REPUTATION, AS HAVING BEEN RECOGNIZED BY THE CONGRESSIONAL BLACK CAUCUS, MAKES IT VERY CLEAR THAT IT DOES NOT DISCRIMINATE BASED ON RACE. SEE ADDITIONAL DISCLOSURE ON SCHEDULE O ABOUT THE COLLEGE'S DIVERSITY EFFORTS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FUNDS FROM THE FEDERAL GOVERNMENT, PRIMARILY FROM PROGRAMS OVERSEEN BY THE U.S. DEPARTMENT OF EDUCATION, WHICH ARE USED TO PROVIDE FINANCIAL AID AND/OR LOANS TO STUDENTS ATTENDING THE COLLEGE. IN ADDITION, THE COLLEGE RECEIVES OTHER FEDERAL FUNDS, AND FUNDS FROM THE KENTUCKY DEPARTMENT OF EDUCATION, WHICH ARE RELATED TO GRANTS THAT FURTHER THE COLLEGE'S EDUCATIONAL MISSION. EAST ASIA AND THE PACIFIC - PROGRAM SERVICE STUDY ABROAD 15900 EUROPE (INCLUDING ICELAND & GREENLAND) - PROGRAM SERVICE STUDY ABROAD 122137 EUROPE (INCLUDING ICELAND & GREENLAND) - PROGRAM SERVICE REGENT'S PARK COLLEGE PROGRAMS 226038 EUROPE (INCLUDING ICELAND & GREENLAND) - PROGRAM SERVICE SEMINARS/CONFERENCES 6635 0 0 0 0 0 0 370710 0 370710 0 0 0 0 0 0 X X X X X X X 1 MS PHYLLIS HUGHES 302 PEACHBLOOM HILL LANE BEREA KY 40403 GRANT FUNDRAISING 0 0 49604 0 TREK ADVANCEMENT LLC 135 EAST MARKET STREET NEW ALBANY IN 47150 CONSULTANT 0 0 18300 0 67904 SCHEDULE G THE AMOUNTS PAID TO TREK ADVANCEMENT, LLC WAS FOR A FUNDRAISING CONSULTANT WHO WAS ADVISING THE COLLEGE AS TO ITS FUNDRAISING PLANS AND MATERIALS, AND TESTING FUNDRAISING FEASIBILITY. THE ENTITY WAS NOT ACTIVELY SOLICITING CONTRIBUTIONS ON BEHALF OF THE COLLEGE. 1 SCHOLARSHIPS 1193 20969965 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: FOR GRANTS RECEIVED BY THE COLLEGE, GRANTS ARE CONTROLLED BY A DESIGNATED RESPONSIBLE PERSON ON CAMPUS, WHO IS TYPICALLY THE PERSON WHO APPLIES FOR THE GRANT. ALL PROPOSED EXPENDITURES FROM THE GRANT MUST BE APPROVED BY THAT PERSON. THE ACCOUNTING DEPARTMENT REVIEWS THE INVOICE FOR APPROPRIATENESS WITH THE NATURE OF THE GRANT, REVIEWS THE ACTUAL TRANSACTION TO MAKE SURE THAT IT IS ADEQUATELY SUPPORTED, AND REVIEWS THE TRANSACTION TO BE SURE THAT IT IS AN ALLOWABLE EXPENSE UNDER FEDERAL LAW. EACH GRANT IS ASSIGNED ITS OWN SET OF GENERAL LEDGER ACCOUNTS TO SEGREGATE THE EXPENSES AND GRANT INCOME FROM OTHER EXPENDITURES AND REVENUES OF THE COLLEGE. IF THE GRANT IS A REIMBURSEMENT GRANT, THE COLLEGE PERIODICALLY DRAWS FUNDS DOWN FROM THE GRANTOR BASED ON THE ACTUAL EXPENSES INCURRED. WHEN REPORTS ARE DUE TO THE GOVERNMENT OR OTHER GRANTOR, THE RESPONSIBLE PERSON PREPARES THE REPORT WITH ASSISTANCE OF THE ACCOUNTING DEPARTMENT. TYPICALLY, THESE REPORTS ARE SIGNED BY THE RESPONSIBLE PERSON AND THE CFO OR PRESIDENT OF THE COLLEGE CERTIFYING THE ACCURACY OF THE REPORT. GRANTS SHOWN ON PART III ARE SCHOLARSHIPS. SCHOLARSHIPS ARE GRANTED IN TWO FORMS. FIRST, SOME SCHOLARSHIPS ARE FUNDED BY DONOR GIFTS OR INVESTMENT INCOME FROM DONOR GIFTS. THESE SCHOLARSHIPS MUST BE GRANTED AS THE DONOR HAS SPECIFIED AT THE TIME OF THE GIFT. THE STUDENT MUST MEET THE DESIGNATED REQUIREMENTS OF THE DONOR. SECOND, THE COLLEGE ALSO AWARDS SCHOLARSHIPS FROM GENERAL COLLEGE REVENUES. THESE SCHOLARSHIPS ARE AWARDED BASED ON ACADEMIC ACHIEVEMENT AND FINANCIAL NEEDS WHICH IS CONSISTENT WITH INDUSTRY STANDARDS. X X X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 WILLIAM H CROUCH JR 207909 0 0 0 43543 0 8210 0 3575 0 263237 0 0 0 PART I, LINE 1A FIRST CLASS OR CHARTER TRAVEL IS PROVIDED ONLY IN CERTAIN LIMITED SITUATIONS. THE PRESIDENT'S WIFE SOMETIMES ACCOMPANIES THE PRESIDENT ON OFFICIAL BUSINESS FOR THE COLLEGE. IN THOSE INSTANCES, THE COLLEGE WILL SOMETIMES PAY THE TRAVEL EXPENSES. THE PRESIDENT RESIDES IN A DWELLING OWNED BY THE COLLEGE, WHICH IS PROVIDED TO HIM FOR HIS USE. THE COLLEGE PAYS THE SOCIAL CLUB DUES FOR THE PRESIDENT. CITY OF GEORGETOWN AND GEORGETOWN COLLEGE PROJECT 616001830 372730CJ8 2006-05-17 39640000 REFUNDING OF THE OUTSTANDING COLLEGE 2000 AND 2002 REVENUE BONDS 0 0 0 CITY OF GEORGETOWN AND GEORGETOWN COLLEGE PROJECT 616001830 2011-12-19 1780000 FINANCE DORMITORY CONSTRUCTION 0 0 0 2780000 39640000 39126304 513696 2006 0 1 1 1 59333 1780000 30800 1749200 0 0 1 1 0 0 0 0 0 1 1 1 FIFTH THIRD BANK 24.000000000000 1 0 0 0 0 1 1 1 FIFTH THIRD BANK 15.000000000000 1 0 0 0 0 FORM 990, SCHEDULE K, PART IV, LINE 1 ARBITRAGE CALCULATIONS HAVE BEEN PERFORMED, BUT NO AMOUNTS ARE DUE. RELATIVES OF OFFICERSTRUSTEES OFFICERS/TRUSTEES 69813 $69,813 SCHOLARSHIPS MR MIKE SCANLON FORMER TRUSTEE 30000 IN SEPTEMBER 2003, THE COLLEGE ENTERED INTO A 10-YEAR LEASE, LICENSE, AND NAMING RIGHTS AGREEMENT FOR ITS CONFERENCE CENTER WITH A COMPANY OF WHICH MR. SCANLON IS A SIGNIFICANT OWNER AND IS THE CHIEF EXECUTIVE OFFICER. THE COLLEGE RECEIVES $30,000 IN RENTAL INCOME FROM THE COMPANY EACH YEAR FOR FIVE ROOMS AT THE CONFERENCE CENTER. IF THE ROOMS ARE NOT IN USE, THE COLLEGE MAY RENT FOUR OF THE ROOMS TO OTHERS. THE COLLEGE'S ANALYSIS IS THAT THE RENTAL PAYMENT TO THE COLLEGE IS AT FAIR MARKET VALUE FOR SIMILARLY SITUATED PROPERTIES. 0 MS PAIGE SHORT TRUSTEE THROUGH DECEMBER 31, 2011 15975 EIGHT MONTHS BEFORE SHE BECAME A TRUSTEE, SHE ENTERED INTO A SEVEN-YEAR BUILDING LEASE WITH THE COLLEGE, ENDING MARCH 2013. THE BUILDING HOUSES THE EQUINE SCHOLARS PROGRAM. THE COLLEGE BELIEVES THAT THE RENTAL PAYMENTS ARE AT FAIR MARKET VALUE FOR SIMILAR PROPERTIES. 0 DR TODD COKE HIS WIFE, DR. ROSEMARY ALLEN IS THE PROVOST OF THE COLLEGE 66605 DR. TODD COKE HAS BEEN A MEMBER OF THE GEORGETOWN COLLEGE FACULTY FOR OVER 20 YEARS. MS. ALLEN IS THE PROVOST AND IS RESPONSIBLE FOR ACADEMIC PROGRAMS ON CAMPUS. DR. COKE'S COMPENSATION FOR THE YEAR ENDED 6/30/12 WAS $66,605 IN SALARY PLUS THE COLLEGE'S STANDARD BENEFITS 0 MR BI HOUSTON TRUSTEE 50000 MR. B.I. HOUSTON'S WIFE, DEBBIE, WAS ON THE BOARD OF THE KENTUCKY BAPTIST SEMINARY OF KENTUCKY. BEGINNING IN JUNE 2010, THE KENTUCKY BAPTIST SEMINARY ENTERED INTO A LEASE AGREEMENT WITH RENTALS BEGINNING ON AUGUST 1, 2010 FOR SPACE IN THE COLLEGE'S LEARNING RESOURCE CENTER. THE SEMINARY PAYS THE COLLEGE $50,000 IN RENT ANNUALLY. THIS AGREEMENT WAS NEGOTIATED IN GOOD FAITH BY THE MANAGEMENT OF BOTH PARTIES AND THEN SUBMITTED TO APPROVAL BY THE TRUSTEES IN ACCORDANCE WITH THE REQUIREMENTS OF THE RESPECTIVE ORGANIZATIONS. 0 X 1026 VALUE PER DONOR X 25540 VALUE PER DONOR X 1 6400 VALUE PER DONOR X 11 75396 FAIR MARKET VALUE X 1 10000 FAIR MARKET VALUE X LAMP POSTS/SIGNS 20 14850 VALUE PER DONOR 0 1 1 THIRD PARTY USE: PART I, LINE 32B: THE INVESTMENT DEPARTMENT OF FIFTH THIRD BANK RECEIVES ALL OF OUR STOCK GIFTS, SELLS THEM ON OUR BEHALF, AND REMITS NET PROCEEDS TO THE COLLEGE. VEHICLE DEALERS ARE USED TO SELL VEHICLE GIFTS ON OUR BEHALF AND REMITS NET PROCEEDS TO THE COLLEGE. FORM 990, PART VI, SECTION A, LINE 2 MR. JOHN REED IS THE FATHER-IN-LAW OF DAVID JONES, AND BOTH WERE TRUSTEES FOR PART OF THE YEAR. MR. JOHN REED WAS A TRUSTEE UNTIL DECEMBER 31, 2011. TRUSTEE JAMIE HARGROVE PROVIDES LEGAL SERVICES TO TRUSTEE ROBERT COLEMAN. TRUSTEE REZA HASHAMPOUR AND TRUSTEE NICOLLE COLLINSON HAVE A JOINT BUSINESS OPPORTUNITY. FORM 990, PART VI, SECTION B, LINE 11 THE COLLEGE FORWARDS A PDF FILE TO THE TRUSTEES ON THE EXECUTIVE/FINANCE COMMITTEE AFTER THE RETURN IS FILED IN MAY. IN THE EXECUTIVE/FINANCE COMMITTEE'S REGULARLY SCHEDULED AUGUST MEETING, THE COLLEGE WILL ANSWER ANY QUESTIONS FROM THE EXECUTIVE/FINANCE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C ALL SENIOR MANAGERS ARE VERY CONSCIOUS OF ANY ARRANGEMENTS THAT MAY GIVE RISE TO A CONFLICT OF INTEREST, ESPECIALLY RELATED TO DOING ANY BUSINESS WITH A TRUSTEE. SENIOR MANAGERS REPORT ANY POTENTIAL TRANSACTIONS TO THE CFO, WHO IS A CPA. ANNUALLY, THE CONFLICT OF INTEREST AND EXCESS BENEFIT POLICIES ARE DISTRIBUTED TO TRUSTEES. THE TRUSTEES ANNUALLY DISCLOSE ALL POTENTIAL CONFLICTS OF INTEREST, BUSINESS TRANSACTIONS WITH THE COLLEGE, AND ANY OWNERSHIP INTERESTS WHICH MIGHT GIVE RISE TO A CONFLICT. THE TRUSTEES AND OFFICERS OF THE COLLEGE RESPOND DIRECTLY AND INDIVIDUALLY TO THE QUESTIONS ON PART IV, QUESTION 28 (A) THROUGH (C) OF THIS RETURN. FORM 990, PART VI, SECTION B, LINE 15 THE COLLEGE'S COMPENSATION COMMITTEE, COMPOSED OF THE TRUSTEES THAT SERVE ON THE BOARD OF TRUSTEE'S EXECUTIVE/FINANCE COMMITTEE REVIEWS THE PRESENT SALARY AND APPROVES THE BUDGETED SALARY FOR NEXT YEAR FOR THE EMPLOYEES WITH THE TOP FIVE SALARIES AT THE COLLEGE. THIS REVIEW INCLUDES A COMPARISON OF DATA FROM RECOGNIZED SALARY SURVEYS FOR SIMILAR POSITIONS IN THE REGION. THE COMPENSATION COMMITTEE ALSO REVIEWS THE SALARY OF SIMILAR POSITIONS IN PEER INSTITUTIONS IN KENTUCKY BY REFERENCE TO THEIR LATEST AVAILABLE TAX RETURNS. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE DOES NOT MAKE ITS FINANCIAL STATEMENTS PUBLIC, OTHER THAN IN RESPONSE TO A DONOR'S REQUEST OR A GRANT APPLICATION. THE COLLEGE'S BUDGET IS AVAILABLE IN THE ENSOR LEARNING RESOURCE CENTER. THE COLLEGE'S CONFLICT OF INTEREST POLICY IS PART OF THE COLLEGE'S POLICIES AND PROCEDURES, WHICH IS AVAILABLE ON THE COLLEGE'S WEBSITE. GOVERNING DOCUMENTS ARE FILED WITH THE KENTUCKY SECRETARY OF STATE. THE COLLEGE'S FISCAL POLICIES ARE AVAILABLE TO ALL BOARD MEMBERS; THE FINANCIAL STATEMENTS AND AUDIT REPORTS ARE GIVEN TO ALL TRUSTEES EACH YEAR IN ITS OCTOBER MEETING. TRUSTEES ARE REQUIRED TO READ THE CONFLICT OF INTEREST POLICY OF THE COLLEGE AND COMPLETE THE FORM INDICATING WHETHER OR NOT THEY HAVE A CONFLICT. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -1,947,756. CHANGE IN FMV OF SWAP AGREEMENT -3,797,803. ADJUSTMENT FOR ACTUARIAL LIABILITY FOR ANNUITIES AND LIFE INCOME FUNDS -492,063. TOTAL TO FORM 990, PART XI, LINE 5: -6,237,622. FORM 990, PART XII, LINE 2C THE COLLEGE'S EXECUTIVE/FINANCE COMMITTEE OF THE BOARD OF TRUSTEES ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS AND THE SELECTION OF THE INDEPENDENT ACCOUNTANT. SCHEDULE E, LINE 3, CONTINUATION THE COLLEGE HAS BEEN AND CONTINUES TO BE RECOGNIZED NATIONALLY FOR ITS DIVERSITY INITIATIVES. ARTICLES ABOUT THE COLLEGE'S EFFORTS TO RECRUIT MINORITY STUDENTS HAVE APPEARED IN THE NEW YORK TIMES, DALLAS MORNING NEWS AND THE LOUISVILLE COURIER-JOURNAL NEWSPAPERS. THE CONGRESSIONAL BLACK CAUCUS HONORED THE COLLEGE'S INITIATIVES WITH A RECEPTION AT THE UNITED STATES CAPITAL BUILDING. PRESIDENT WILLIAM H. CROUCH, JR. HAS SERVED ON TWO OCCASIONS AS A PANEL MEMBER AND MODERATOR AT THE WORLD DIVERSITY LEADERSHIP SUMMIT AT THE UNITED NATIONS HEADQUARTERS IN NEW YORK; SPEAKS FREQUENTLY TO PRIMARILY AFRICAN AMERICAN CONGREGATIONS AT CHURCHES LIKE ANTIOCH BAPTIST, MEMPHIS, TN, SIXTH AVENUE BAPTIST, BIRMINGHAM, AL, AND ALLEN TEMPLE BAPTIST, OAKLAND, CA; HAS SPOKEN AT DIVERSITY ISSUES AT EDUCATIONAL INSTITUTIONS SUCH AS DUKE UNIVERSITY: AND WAS GUEST SPEAKER AT A DIVERSITY SYMPOSIUM IN NASHVILLE, TN, TO NAME BUT A FEW EXAMPLES OF DIVERSITY OUTREACH. BECAUSE OF ITS EFFORTS TO DIVERSIFY ITS STUDENT BODY, IN PARTICULAR, AND ITS EMPLOYEES, THE COLLEGE WAS RECENTLY INVITED INTO MEMBERSHIP OF THE SOUTHERN UNIVERSITY CONFERENCE. IN FEBRUARY 2012, THE COLLEGE WAS RECOGNIZED FOR ITS DIVERSITY EFFORTS BY THE SELECTIVE CORPORATE INTERNSHIP PROGRAM. FORM 990, PART VI, SECTION A, LINE 1A BETWEEN BOARD MEETINGS THE EXECUTIVE COMMITTEE IS EMPOWERED TO ACT ON BEHALF OF THE BOARD. THE MINUTES OF ALL EXECUTIVE COMMITTEE MEETINGS ARE DISTRIBUTED TO THE FULL BOARD AT EACH REGULARLY SCHEDULED MEETING OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 16B THE COLLEGE ENTERED INTO AN LLC IN WHICH IT IS A 95% OWNER; THE OTHER OWNER IS AN INDIVIDUAL. EXCEPT FOR A CASH CAPITAL CONTRIBUTION OF $950, THE COLLEGE CONTRIBUTED NO ASSETS TO THE LLC. THE LEGAL STRUCTURE AND TAX STATUS OF THE COLLEGE AND THE LLC WAS REVIEWED BY THE GENERAL COUNSEL. THE LLC HAD NO ACTIVITY DURING THE FISCAL YEAR. SCHEDULE K-1S ARE MADE AVAILABLE TO THE PARTNERS AND ANY INCOME IS REPORTED ON THE 990-T OF THE COLLEGE. THE COLLEGE HAS NO WRITTEN POLICY ON JOINT VENTURES SINCE THIS WAS THE FIRST ONE IT HAS DONE. GEORGETOWN COLLEGE FOUNDATION INC 400 EAST COLLEGE STREET GEORGETOWN KY 40324 611228041 SUPPORTING ORGANIZATION FOR GEORGETOWN COLLEGE KY 501(C)(3) 11A N/A 0 GEORGETOWN COLLEGE ALUMNI LLC 400 EAST COLLEGE STREET GEORGETOWN KY 40327 352417606 MARKETING SERVICES KY GEORGETOWN COLLEGE UNRELATED 11242 0 0 0.95000 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0