2013-01-29T13:31:46-06:00 2012-06-30 383635706 REHMANN ROBSON 555 BRIARWOOD CIRCLE STE 300 ANN ARBOR MI 48108 990 2011-07-01 381393841 CLEARY UNIVERSITY CLEA 7343324477 3601 PLYMOUTH ROAD ANN ARBOR MI 48105 THOMAS SULLIVAN 7343324477 2013-01-28 1 KATHLEEN M UNDERHILL P00589677 7347612005 2013-01-16 2011 2016-02-25 16:41:14Z THOMAS SULLIVAN 3601 PLYMOUTH ROAD ANN ARBOR MI 48105 10982566 0 X WWW.CLEARY.EDU X 1883 MI TO MEET THE NEEDS OF THE BUSINESS COMMUNITY AND TO PROVIDE AN EDUCATION FOR PERSONS SEEKING PRACTICAL SKILLS AND VALID CREDENTIALS TO ADVANCE THEIR BUSINESS CAREERS. 31 31 259 15 6283 -43519 282961 480079 8589416 7388139 89269 85085 444110 525338 9405756 8478641 765616 866553 0 0 4339435 4277703 0 0 47259 3802581 3714688 8907632 8858944 498124 -380303 19293917 18864768 8533705 8475410 10760212 10389358 TO MEET THE NEEDS OF THE BUSINESS COMMUNITY AND TO PROVIDE AN EDUCATION FOR PERSONS SEEKING PRACTICAL SKILLS AND VALID CREDENTIALS TO ADVANCE THEIR BUSINESS CAREERS. 0 0 3809036 866553 7396911 OPERATION OF UNIVERSITY & INSTRUCTION COST 3809036 1 1 0 0 0 0 0 1 0 1 1 1 0 0 0 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 1137 0 1 259 1 1 1 0 0 0 0 1 1 0 0 0 0 X 31 31 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 1 1 X X TOM SULLIVAN PRESIDENT 7343324477 3601 PLYMOUTH ROAD ANN ARBOR MI 481052659 IAN SCHONSHECK 2.00 X 0 0 0 RAYMOND KING III 2.00 X 0 0 0 PATRICK CLEARY II 2.00 X 0 0 0 JOHN KLEE 2.00 X 0 0 0 ANNE MCKENNY 2.00 X 0 0 0 WILLIAM DAVIS JR 2.00 X 0 0 0 FRANK FIKE 2.00 X 0 0 0 JOHN EDWARDS 2.00 X 0 0 0 ANDREW EGGAN 2.00 X 0 0 0 R JAMES GORENFLO 2.00 X 0 0 0 JOHN MCBRIDE 2.00 X 0 0 0 DAVID ITSELL 2.00 X 0 0 0 DANIEL MILSTEIN 2.00 X 0 0 0 MACK JOHNSON 2.00 X 0 0 0 PATRICK O'KEEFE 2.00 X 0 0 0 DANTE BALLARIO 2.00 X 0 0 0 SCOTT MALY 2.00 X 0 0 0 TIM CODD 2.00 X 0 0 0 MICHAEL LAMARRA 2.00 X 0 0 0 MINDI FYNKE 2.00 X 0 0 0 MILTON WEIDMAYER 2.00 X 0 0 0 CAROL ALEXANDER 2.00 X 0 0 0 JOE PARKER 2.00 X 0 0 0 PAUL GOBEILLE 2.00 X 0 0 0 GLYNIS MCBAIN 2.00 X 0 0 0 NINA MCCLELLAND 2.00 X 0 0 0 DOUGLAS RITTER 2.00 X 0 0 0 ELISE HOWARD 2.00 X 0 0 0 JOHN KUDERIK 2.00 X 0 0 0 MICHAEL JONNA 2.00 X 0 0 0 H TODD KEPHART 2.00 X 0 0 0 THOMAS SULLIVAN 40.00 X 193634 0 18896 JUDITH L WALKER 40.00 X 107734 0 9583 VINCE P LINDER 40.00 X 108996 0 9195 410364 0 37674 3 0 1 0 0 17950 143674 318455 156989 480079 TUITION AND FEES 611600 7138509 7138509 OTHER PROGRAM SERVICE 611600 249630 249630 7388139 82763 82763 448317 0 448317 448317 448317 2380851 2378529 2322 2322 2322 176878 17950 114912 61966 61966 25539 10484 15055 8772 6283 8478641 7396911 6283 595368 866553 866553 212052 112758 99294 3344883 1656397 1684861 3625 100501 53441 47060 378026 201015 177011 242241 128811 113430 6462 6462 86998 86998 656325 53473 602852 467314 16703 450611 276772 8546 268226 119916 119916 18518 7215 11303 72857 7047 65810 83906 83906 748384 748384 40743 40743 BOOKS & PERIODICALS 488213 449382 38831 OTHER 219328 111699 57795 49834 EQUIPMENT 185950 3118 182832 BOOKSTORE EXPENSES 119325 119325 123677 13553 116324 -6200 8858944 3809036 5002649 47259 1872534 1153841 167110 95979 604079 422326 98066 100382 52054 103688 19181586 4328227 13526517 14853359 2582930 1644313 390627 490880 19293917 18864768 2167413 1957599 1368717 1122734 4997575 5395077 8533705 8475410 X 9457895 8952831 351571 437823 950746 998704 10760212 10389358 19293917 18864768 X -380303 9449 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 118275 118275 X 0 2676823 73829 93997 23283 2821368 2528387 67757 110699 30020 2676823 2252044 105725 190501 19883 2528387 2209525 57199 3500 18180 2252044 0.54190 0.35400 0.10410 0 0 1456383 1456383 13901563 2706581 11194982 1206487 248278 958209 2617153 1373368 1243785 14853359 MARKETABLE SECURITIES 1544987 F INTEREST IN LIMITED PARTNERSHIPS 99326 C 1644313 8478641 8858944 -380303 9449 9449 -370854 7770216 9449 -717874 -708425 8478641 0 8478641 8141070 -717874 -717874 8858944 0 8858944 PART III, LINE 4: ARTHUR SECUNDA ART WORK - THE UNIVERSITY IS CREATING THE ARTHUR SECUNDA MUSEUM AT ITS LIVINGSTON CAMPUS. THE MUSEUM WILL ENHANCE THE VISIBILITY, REPUTATION AND EDUCATIONAL MISSION OF CLEARY UNIVERSITY BY REINFORCING THAT THE UNIVERSITY IS A SOPHISTICATED INSTITUTION IN WHICH STUDENTS CAN PLACE THEIR CONFIDENCE. THE ADDITION OF THE MUSEUM WILL FACILITATE STUDY IN THE FIELD OF ARTS MANAGEMENT, EXAMINATION OF THE ARTIST AS ENTREPRENEUR, AND THE USE OF THE ART TO STIMULATE CREATIVITY AMONG THE BUSINESS STUDENTS. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE INTENDED USE OF THE TERM AND PERMANENT ENDOWMENT FUNDS IS TO FUND STUDENT SCHOLARSHIPS. THE QUASI-ENDOWMENT FUND MAY BE USED AS A RESERVE OR IN CASE OF EMERGENCY FOR THE OPERATIONS OF THE UNIVERSITY. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE UNIVERSITY HAS EVALUATED THE PROVISIONS OF ASC TOPIC 740 FOR THE TAX YEARS 2008 THROUGH 2011, THE YEARS WHICH REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS AS OF JUNE 30, 2012. THE UNIVERSITY CONCLUDED THAT THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION IN THE UNIVERSITY'S FINANCIAL STATEMENTS. THE UNIVERSITY DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS ("UTB") (E.G., TAX DEDUCTIONS, EXCLUSIONS, OR CREDITS CLAIMED OR EXPECTED TO BE CLAIMED) TO SIGNIFICANTLY CHANGE IN THE NEXT TWELVE MONTHS. THE UNIVERSITY DOES NOT HAVE ANY AMOUNTS ACCRUED FOR INTEREST AND PENALTIES RELATED TO UTB'S AT JUNE 30, 2012 OR 2011, AND MANAGEMENT IS NOT AWARE OF ANY CLAIMS FOR SUCH AMOUNTS BY FEDERAL OR STATE INCOME TAX AUTHORITIES. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 10,484. SPECIAL EVENTS EXPENSES 114,912. GRANTS & SCHOLARSHIPS -843,270. PART XIII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 10,484. SPECIAL EVENTS EXPENSES 114,912. GRANTS & SCHOLARSHIPS -843,270. 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 AVAILABLE ON THE SCHOOL'S WEBSITE. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 54,771 FROM THE US SBA SMALL MICRO BUSINESS INCUBATOR CENTER BUILDING REPAIRS GOLF OUTING 50348 50348 28043 AUCTION 144480 17950 126530 1000 85869 194828 17950 176878 1000 113912 114912 61966 1 VA MILITARY GRANT 19 65714 CLEARY INSTITUTIONAL GRANT 53 33238 CLEARY SCHOLARSHIP 16 38499 COMMUNITY COLLEGE & ALUMNI DISCOUNT 21 53053 CLEARY CONTINUITY GRANT 549 339839 NEXT STEP GRANT 28 39854 ALUMNI ASSOCIATION ENDOWED SCHOLARSHIP 1 500 WILBURN M. BARWICK SCHOLARSHIP 8 14366 ROBERT & BESS COOK ENDOWED SCHOLARSHIP 1 1000 SULLIVAN ENDOWED SCHOLARSHIP 1 1000 LOREN BEUTLER ENDOWED SCHOLARSHIP 1 250 COMMUNITY PARTNER MATCHING GRANT 3 2667 WORK TO LEARN SCHOLARSHIP PROGRAM 19 11025 PR CLEARY PARTNER SCHOLARSHIP 65 123035 GRADUATE ASSISTANT GRANT 14 136346 RITA & CHARLES GELMAN GRADUATE SCHOLARSHIP 1 667 MARJORY CLEARY MCKENNY & ARTHUR MCKENNY 2 4000 BETSY KANITZ ENDOWED SCHOLARSHIP 1 1000 LLOYD & MABEL JOHNSON ENDOWED SCHOLARSHIP 1 500 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: GRANT AND SCHOLARSHIP AWARDS ARE USED AT CLEARY UNIVERSITY. X X 0 0 0 0 0 0 0 0 0 THOMAS SULLIVAN 181134 0 12500 0 0 0 0 0 18896 0 212530 0 0 0 CLEARY UNIVERSITY 381393841 594519J84 2006-06-07 5335000 CAPITAL EXPENDITURES 0 0 0 550000 5335000 379242 262230 4693528 2007 0 0 1 1 0 0 1 0 0 0.03310 0.03310 1 0 1 0 0 0 0 X 2 118275 INDEPENDENT APPRAISER X 1 38714 STOCK MARKET QUOTATION 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY THE FINANCE COMMITTEE PRIOR TO BEING FILED AND IS RECOMMENDED BY THEM TO THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C NEW BOARD MEMBERS AND EMPLOYEES ARE ASKED ABOUT ANY CONFLICT OF INTEREST BASED ON THE CONFLICT OF INTEREST POLICY. IF A CONFLICT EXISTS, THE ASSOCIATION WITH THE CONFLICTING INTEREST IS DISCONTINUED OR THE BOARD MEMBER OR EMPLOYEE IS NOT SELECTED TO SERVE. FORM 990, PART VI, SECTION B, LINE 15 WE ESTABLISH A BENCHMARK FOR EVERY EMPLOYEE POSITION BASED ON ONE OF THE FOLLOWING: CUPA - HR - COLLEGE & UNIVERSITY PROFESSIONAL ASSOCIATION - HUMAN RESOURCES SALARY SURVEY RESULTS OR GAASHRM - GREATER ANN ARBOR SOCIETY FOR HUMAN RESOURCE MANAGEMENT SALARY SURVEY RESULTS. EVERY EMPLOYEE POSITION IS COMPARED TO A SIMILAR POSITION IN ONE OF THESE SURVEYS (CUPA IS USED IF A POSITION MATCH EXISTS) THE AVERAGE SALARY FOR LIKE INSTITUTIONS OR SIMILAR SIZED NON-PROFITS IS USED AS OUR BENCHMARK WITH A MARGIN OF 15% ON EITHER SIDE OF THE AVERAGE TO ESTABLISH OUR SALARY "RANGE" FOR THE POSITION. ACTUAL SALARY FOR AN EMPLOYEE IS BASED ON EXPERIENCE AND EMPLOYMENT DURATION THAT MOVES ONE'S SALARY UP WITHIN THE SALARY RANGE. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 9,449. PART XII, LINE 2C THERE HAVE BEEN NO CHANGES TO THE AUDIT COMMITTEE'S OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.