2013-02-15T15:09:00-06:00 2012-06-30 BKD LLP 1201 Walnut Suite 1700 Kansas City MO 641062246 990 2011-07-01 480777079 Benedictine College % RONALD J OLINGER BENE 9133675340 1020 N 2nd Street Atchison KS 66002 RONALD J OLINGER 2013-02-15 true Jakeb D Blake 8162216300 2011 2016-03-07 17:11:31Z STEPHEN D MINNIS 1020 N 2ND STREET Atchison KS 66002 60951278 false 0928 X www.benedictine.edu X 1971 KS BENEDICTINE COLLEGE'S MISSION AS A CATHOLIC, BENEDICTINE, LIBERAL ARTS, RESIDENTIAL COLLEGE IS THE EDUCATION OF MEN AND WOMEN WITHIN A COMMUNITY OF FAITH AND SCHOLARSHIP. 28 27 1034 28 211391 9660866 7412410 40034438 46055373 2919232 920920 409304 561177 53023840 54949880 14625850 17241585 0 0 14857168 16432085 48200 49200 1186281 15120021 17380110 44651239 51102980 8372601 3846900 96291036 113266461 35374049 48634592 60916987 64631869 X SEE SCHEDULE O false false 43462948 17241585 46484542 SEE SCHEDULE O 43462948 true true false false false false false true false true true false false false true true true false true true true false true true true false false false true true true false false false false false false true false false false true false false false false false false false false false true 2084 0 true 1034 true true true false false false false true true false false false false X 28 27 true false false false false false false true true false false true true true true true true true false false X RONALD J OLINGER 9133675340 1020 N 2ND STREET ATCHISON KS 66002 X Fr James Albers OSB 1.0 X Larry Buessing 1.0 X Shirley Chenoweth 1.0 X JUDITH HEMBERGER 1.0 X M Darryl Jones 1.0 X Lawrence S Kaminsky 1.0 X Kevin E Kramer 1.0 X Fr Gabriel Landis OSB 1.0 X David M Laughlin 1.0 X Stephen E McBride 1.0 X Michael Murphy 1.0 X Jack A Newman Jr 1.0 X Kathleen O'Hara 1.0 X S Mary Agnes Patterson OSB 1.0 X RICHARD SULLIVAN 1.0 X Christopher Thompson 1.0 X Matthew Tynan 1.0 X Carolyn Watley 1.0 X Paul D Westerman 1.0 X Robert S Wholey 1.0 X James T O'Brien 1.0 X X S Anne Shepard OSB 1.0 X X Abbot Barnabas Senecal OSB 1.0 X X S Mary Irene Nowell OSB 1.0 X X Susan Zubradt 1.0 X PATRICK M CARR SR 1.0 X MICHAEL LAUSE 1.0 X LENE WESTERMAN 1.0 X Stephen D Minnis 40.0 X 300411 0 42573 Kimberly C Shankman 40.0 X 99199 0 24937 Ronald J Olinger 40.0 X 134174 0 14995 Kristie R Scholz 40.0 X 67999 0 4051 FR MAURICE HAEFLING OSB 1.0 X Kelly Vowels 40.0 X 141079 0 25707 DARRIN MUGGLI 40.0 X 108117 0 22300 850979 0 134563 4 false true false TREANOR ARCHITECTS PA ARCHITECT FIRM 653642 1 465892 158184 6788334 93314 7412410 TUITION & FEES 611600 35855370 35855370 ROOM & BOARD 611600 9411612 9411612 STUDENT ACTIVITIES 611710 662535 662535 ATHLETIC INCOME 611710 125856 125856 46055373 498382 498382 0 47 47 5700513 345878 5567089 56764 133424 289114 422538 422538 99566 465892 178996 -79430 -79430 0 321030 198549 122481 122481 COMSPEC 611710 12000 12000 CATERING SERVICES 722320 93049 93049 CONFERENCES 541900 106342 106342 306688 306688 518079 54949880 46484542 211391 841537 0 16883178 16883178 358407 358407 0 744121 137765 606356 0 12301569 10150416 1486029 665124 290100 237510 33911 18679 2501998 1249533 1199340 53125 594297 494856 69855 29586 0 49339 49339 76282 76282 0 49200 49200 94115 94115 3392422 3129303 159469 103650 96951 28529 68219 203 883696 547627 282874 53195 473231 83843 388413 975 0 1462304 1214683 201874 45747 638031 575302 36586 26143 0 120665 113812 4480 2373 1303091 1303091 0 4539244 3797913 720020 21311 305759 234204 59178 12377 ACADEMIC SUPPORT 758011 758011 AUXILIARY EXPENSES 522706 522706 INSTRUCTION & DEPT RESEARCH 181708 181708 STUDENT SERVICES 801995 801995 1680560 658556 917411 104593 51102980 43462948 6453751 1186281 1311470 1062385 2597679 3231926 4764817 5706577 450267 492369 0 0 0 0 0 0 199895 259008 170559 271417 108663780 37204326 56659634 71459454 24386166 25397732 671054 0 3177453 3303123 0 0 1902042 2082470 96291036 113266461 4328041 4116397 0 0 458757 414302 26469800 39995399 0 0 0 0 95950 31146 0 0 4021501 4077348 35374049 48634592 X 24766910 39117788 19730583 8898662 16419494 16615419 60916987 64631869 96291036 113266461 X 3846900 -132018 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1660200 X false false false 19476151 294310 368235 620758 0 81981 19435957 16778487 678561 2676333 485378 0 171852 19476151 15538813 314515 1343660 200000 54787 163714 16778487 13332708 4249053 -1736993 137845 34047 134063 15538813 0.08120 0.85490 0.06390 false false 1049855 1049855 94052625 27016694 67035931 0 0 0 13561300 10187632 3373668 0 0 0 71459454 0 DEPOSITS 314638 REFUNDABLE GOVT LOAN PROGRAMS 3323937 ANNUITY AND TRUST OBLIGATIONS 87600 ASSET RETIREMENT OBLIGATION 351173 4077348 54949880 51102980 3846900 -139724 7706 -132018 3714882 37864265 -139724 385251 245527 37618738 94115 17237027 17331142 54949880 34149383 377545 377545 33771838 94115 17237027 17331142 51102980 COLLECTIONS OF ART SCHEDULE D, PART III, LINE 4 Frederick Hart's Washington National Cathedral Collection is an impressive assemblage of sculptures that includes the bas-relief "Ex Nihilo" and the life-size castings of the biblical figures Adam, St. Peter and St. Paul. In addition to these sculptures from the National Cathedral in Washington, DC, the artist is best known for his bronze sculptures of three soldiers for the National Vietnam War Memorial. Benedictine College is the only college to have these first castings available for viewing on a daily basis. "Ex Nihilo" is on exhibit inside the Student Union and the statues of Adam, St. Peter and St. Paul are located in the heart of campus along the Raven Walk. The presence of these pieces exposes our students and our campus visitors to some truly magnificent artwork, and is another illustration of our commitment to a broad liberal arts education. ENDOWMENT FUNDS SCHEDULE D, PART V, LINE 4 THE PRIMARY PURPOSE OF THE ENDOWMENT FUNDS IS TO FUND SCHOLARSHIPS. THE ENDOWMENT FUNDS ARE ALSO USED TO FUND BUSINESS PROGRAMS AND GENERAL OPERATIONS OF THE COLLEGE. LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER FIN 48 SCHEDULE D, PART X, LINE 2 MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. RECONCILIATION OF CHANGE IN NET ASSETS SCHEDULE D, PART XI, LINE 8 CHANGE IN CSV OF LIFE INSURANCE $ (6,205) CHANGE IN PV OF SPLIT LIFE INSURANCE $ 13,911 ----------- $ 7,706 RECONCILIATION OF REVENUES SCHEDULE D, PART XII, LINE 2D CHANGE IN CSV OF LIFE INSURANCE $ (6,205) BOOKSTORE COGS $ 198,549 FUNDRAISING EXPENSES $ 178,996 CHANGE IN PV OF SPLIT LIFE INSURANCE $ 13,911 ---------- $ 385,251 RECONCILIATION OF REVENUES SCHEDULE D, PART XII, LINE 4B SCHOLARSHIPS $17,237,027 RECONCILIATION OF EXPENSES SCHEDULE D, PART XIII, LINE 2D BOOKSTORE COGS $ 198,549 FUNDRAISING EXPENSES $ 178,996 ---------- $ 377,545 RECONCILIATION OF EXPENSES SCHEDULE D, PART XIII, LINE 4B SCHOLARSHIPS $17,237,027 true true true true true true true false false false false false false false false true false true RACIALLY NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 BENEDICTINE'S RACIALLY NONDISCRIMINATORY POLICY IS PUBLISHED IN THE COLLEGE CATALOG, WHICH EVERY STUDENT RECEIVES UPON RECEIVING NOTICE OF ACCEPTANCE. GOVERMENT FINANCIAL AID SCHEDULE E, PART I, LINE 6A BENEDICTINE RECEIVES TITLE IV FUNDS FROM THE DEPARTMENT OF EDUCATION. true Europe (Including Iceland and Greenland) 1 1 Program Services Education 550303 East Asia and the Pacific 0 0 Program Services EDUCATION 6716 Europe (Including Iceland and Greenland) Grantmaking 92793 East Asia and the Pacific Grantmaking 92113 North America Grantmaking 63396 South America Grantmaking 46497 Sub-Saharan Africa Grantmaking 39555 Middle East and North Africa Grantmaking 24053 1 1 1 1 915426 915426 STUDENT AID / SCHOLARSHIPS Europe/Iceland/Greenland 5 92793 EFT STUDENT AID / SCHOLARSHIPS East Asia/Pacific 7 92113 EFT STUDENT AID / SCHOLARSHIPS North America 4 63396 EFT STUDENT AID / SCHOLARSHIPS South America 3 46497 EFT STUDENT AID / SCHOLARSHIPS Sub-Saharan Africa 5 39555 EFT STUDENT AID / SCHOLARSHIPS Middle East/North Africa 1 24053 EFT false false true false false false PROCESS FOR MONITORING THE USE OF GRANTS OUTSIDE THE U.S. SCHEDULE F, PART I, LINE 2 ALL GRANTS ARE INSTITUTIONAL FINANCIAL AID AND APPLIED DIRECTLY TO STUDENT ACCOUNTS. IT IS A CONTINUAL PROCESS IN WHICH WE AWARD STUDENT AID WITHIN FEDERAL GUIDELINES AT THE INITIAL AWARDING TIME PERIOD. IF ANY CHANGES TO A STUDENT'S STATUS OCCUR, WE REVIEW THE STUDENT'S AID PACKAGE COMPONENTS TO ENSURE THAT ANY/ALL ADJUSTMENTS MADE MAINTAIN COMPLIANCE WITH TITLE IV FUND RULES. WE ALSO PERFORM SPOT CHECKS THROUGHOUT THE SEMESTER TO DOUBLE CHECK THAT AID ELIGIBILITY CALCULATIONS ARE MET. X X X X X X X true WILSON BENNET FUNDRAISING false 257331 49200 208131 257331 49200 208131 All States SCHOLARSHIPBALL 498143 426029 72114 1532 73000 4387 67598 GOLF TOURNAMENT 59615 36213 23402 600 12532 499 13622 1 7700 3650 4050 3650 1576 565458 465892 99566 5782 85532 4886 82796 178996 -79430 true STUDENT AID / SCHOLARSHIPS 1683 16883178 PROCESS FOR MONITORING THE USE OF GRANTS IN THE U.S. SCHEDULE I, PART I, LINE 2 ALL GRANTS ARE INSTITUTIONAL FINANCIAL AID AND APPLIED DIRECTLY TO STUDENT ACCOUNTS. IT IS A CONTINUAL PROCESS IN WHICH WE AWARD STUDENT AID WITHIN FEDERAL GUIDELINES AT THE INITIAL AWARDING TIME PERIOD. IF ANY CHANGES TO A STUDENT'S STATUS OCCUR, WE REVIEW THE STUDENT'S AID PACKAGE COMPONENTS TO ENSURE THAT ANY/ALL ADJUSTMENTS MADE MAINTAIN COMPLIANCE WITH TITLE IV FUND RULES. WE ALSO PERFORM SPOT CHECKS THROUGHOUT THE SEMESTER TO DOUBLE CHECK THAT AID ELIGIBILITY CALCULATIONS ARE MET. X X true true X X X X X false false false false false false false false false Stephen D Minnis 227095 0 60000 0 13316 0 12188 0 30385 0 342984 0 0 0 Kelly Vowels 105460 0 35000 0 619 0 5684 0 20023 0 166786 0 0 0 HOUSING ALLOWANCE OR RESIDENT FOR PERSONAL USE & SOCIAL CLUB DUES SCHEDULE J, PART I, LINE 1A BENEDICTINE COLLEGE PROVIDES HOUSING TO STEPHEN D MINNIS. THE FMV OF THE HOUSING IS NOT INCLUDED IN HIS W-2 BECAUSE IT QUALIFIES AS A NON TAXABLE BENEFIT UNDER CODE SECTION 119. PRESIDENT MINNIS ALSO RECIEVES SOCIAL CLUB DUES THAT ARE TAXABLE AND INCLUDED IN HIS W-2. KANSAS INDEPENDENT COLLEGE FINANCE AUTHORITY 481233911 48526HLA2 2004-12-28 6981013 SEE SCHEDULE O true false false ATCHISON COUNTY KANSAS 486025049 046597BC3 2007-12-27 4824916 SEE SCHEDULE O false false false ATCHISON COUNTY KANSAS 486025049 046617AX4 2008-01-23 5232252 SEE SCHEDULE O false false false KANSAS INDEPENDENT COLLEGE FINANCE AUTHORITY 481233911 48526HVB9 2010-05-18 10785000 SEE SCHEDULE O false false false 400000 1765000 7063852 254272 254785 0 77908 0 0 6370336 0 823 2006 false false true true 240000 0 4859596 167949 137584 0 96000 0 0 4453324 0 0 2008 false false true true 270000 0 5279087 178584 128284 0 104000 0 0 4861689 0 0 2009 false false true true 1195000 0 10785000 714104 0 0 210600 0 0 3660704 6747015 166682 true false false true false true false false 0.00000 0.00000 0.00000 true false true false false 0.00000 0.00170 0.00170 true false true false false 0.00000 0.00190 0.00190 true false true true true false 0.00000 0.00230 0.00230 true false false false 0 false 0 true false false false false 0 false 0 false false false false false 0 false 0 false false false false false 0 false 0 false true X ATCHISON COUNTY KANSAS 486025049 046597BT6 2011-11-16 9990000 SEE SCHEDULE O false false false ATCHISON COUNTY KANSAS 486025049 2012-04-26 1805000 SEE SCHEDULE O false false false 0 0 9990000 748883 152776 0 199800 0 0 5078036 0 3809388 false false false true 0 0 1805000 90223 0 0 34625 0 0 0 1770375 0 2006 true false true true false false true true false 0.00000 0.00000 0.00000 true false true false false 0.00000 0.00000 0.00000 true false false false 0 false 0 false false false true false 0 false 0 false true 11000 SCHOLARSHIP X 16 53087 FMV X 2 40227 FMV 1 false true true NUMBER OF CONTRIBUTIONS SCHEDULE M, PART I, COLUMN B THE NUMBER IN COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTIONS DURING THE YEAR. NONCASH CONTRIBUTIONS SCHEDULE M, PART I, QUESTION 32B PUBLICLY TRADED STOCK GIFTS ARE TRANSFERRED TO A BROKER AND SOLD AS SOON AS POSSIBLE WITH OVERSIGHT BY THE CONTROLLER. ORGANIZATION'S MISSION FORM 990, PART III, LINE 1 BENEDICTINE COLLEGE IS A CATHOLIC, BENEDICTINE, LIBERAL ARTS, RESIDENTIAL COLLEGE. OUR MISSION IS TO EDUCATE MEN AND WOMEN WITHIN A COMMUNITY OF FAITH AND SCHOLARSHIP. BUILDING A GREAT CATHOLIC COLLEGE REQUIRES A COMMUNITY-WIDE COMMITMENT TO EXCELLENCE. WE DEDICATE OURSELVES TO EDUCATING STUDENTS TO BECOME LEADERS IN THE BENEDICTINE TRADITION, WHO WILL TRANSFORM THE WORLD THROUGH THEIR COMMITMENT TO INTELLECTUAL, PERSONAL, SPIRITUAL GREATNESS. PROGRAM SERVICE ACCOMPLISHMENTS FORM 990, PART III, LINE 4A BENEDICTINE COLLEGE IS A CATHOLIC, BENEDICTINE, LIBERAL ARTS, RESIDENTIAL COLLEGE WITH A MISSION TO EDUCATE MEN AND WOMEN WITHIN A COMMUNITY OF FAITH AND SCHOLARSHIP. WE HAVE A VISION TO BUILD ONE OF THE GREAT CATHOLIC COLLEGES IN AMERICA, AND ATTAINING THAT VISION REQUIRES A COMMUNITY-WIDE COMMITMENT TO EXCELLENCE. WE DEDICATE OURSELVES TO EDUCATING STUDENTS TO BECOME LEADERS IN THE BENEDICTINE TRADITION, WHO WILL TRANSFORM THE WORLD THROUGH THEIR COMMITMENT TO INTELLECTUAL, PERSONAL AND SPIRITUAL GREATNESS. BENEDICTINE COLLEGE IS LOCATED IN ATCHISON, KANSAS, ON A 120-ACRE CAMPUS OVERLOOKING THE MISSOURI RIVER, ABOUT 50 MILES NORTH OF KANSAS CITY, MISSOURI. THERE IS A GRADUATE PROGRAMS SATELLITE CAMPUS IN ROELAND PARK, KANSAS, AND A PARTNERSHIP WITH THE KANSAS CITY POLICE DEPARTMENT TO TEACH GRADUATE COURSES AT THE REGIONAL POLICE ACADEMY. THE COLLEGE ALSO HAS AN INTERNATIONAL CAMPUS IN FLORENCE, ITALY. FOR THE CURRENT ACADEMIC YEAR (2012-13), BENEDICTINE COLLEGE IS BLESSED TO HAVE THE LARGEST FULL-TIME UNDERGRADUATE STUDENT BODY IN ITS HISTORY, WITH MORE THAN 1,700 STUDENTS, NEARLY TRIPLING BENEDICTINE COLLEGE'S ENROLLMENT FROM 20 YEARS AGO. THE FRESHMAN CLASS ENTERING IN 2012 WAS NOT ONLY THE LARGEST IN SCHOOL HISTORY, BUT ALSO HAD THE HIGHEST AVERAGE ACT SCORE IN SCHOOL HISTORY AND THE HIGHEST AVERAGE GPA IN SCHOOL HISTORY. IT IS OBVIOUS THAT BENEDICTINE COLLEGE IS ATTRACTING BOTH MORE STUDENTS AS WELL AS THE BEST AND THE BRIGHTEST. NEARLY 80% OF UNDERGRADUATE STUDENTS LIVE ON CAMPUS IN ACCORDANCE WITH THE COLLEGE'S STRONG RESIDENTIAL TRADITION. TO KEEP UP WITH ITS GROWTH, BENEDICTINE COLLEGE HAS OPENED NINE NEW RESIDENCE HALLS SINCE THE YEAR 2000. THIS YEAR WAS NO DIFFERENT, AS THE COLLEGE OPENED ST. MICHAEL HALL AS A HOME TO 150 UNDERGRADUATE MEN. NATIONAL SURVEYS PLACE BENEDICTINE'S STUDENT LIFE PROGRAM HIGHEST IN OVERALL RESIDENT SATISFACTION AND BENEDICTINE COLLEGE'S RETENTION RATE IS CONSISTENTLY ABOVE 90%. IN MARCH OF 2012, THE COLLEGE OPENED THE NEW 57,000-SQUARE-FOOT FERRELL ACADEMIC CENTER. THIS LEED-CERTIFIED FACILITY PROVIDES SPACE FOR CLASSES, FACULTY AND PROGRAMS, ALLOWING BENEDICTINE TO CONTINUE GROWING. THE COLLEGE ALSO OPENED THE McCARTHY GALLERY OF ART IN HONOR OF LONG-TIME ART PROFESSOR, DENNIS McCARTHY. OUR ATHLETES HAVE EXCELLED ON THE FIELD AS WELL AS OFF, WITH SEVEN VARSITY SPORTS TEAMS RECEIVING NAIA SCHOLAR TEAM RECOGNITION AND BENEDICTINE COLLEGE BEING NAMED A "CHAMPIONS OF CHARACTER FIVE STAR INSTITUTION" BY THE NATIONAL ASSOCIATION OF INTERCOLLEGIATE ATHLETICS. MORE THAN A DOZEN ATHLETES WERE NAMED NAIA DAKTRONICS SCHOLAR ATHLETES AND TWO WERE NAMED TO THE ALL-AMERICA HONORABLE MENTION LIST. IN THE AREA OF ACADEMIC EXCELLENCE, BENEDICTINE IS NOW ONE OF THE FEW CATHOLIC COLLEGES IN THE NATION OFFERING ABET-ACCREDITED PROGRAMS IN CHEMICAL, CIVIL, ELECTRICAL, AND MECHANICAL ENGINEERING. ALSO, SEVERAL NEW MAJORS HAVE BEEN ADDED IN RECENT YEARS, INCLUDING ART, CRIMINOLOGY, ENGINEERING PHYSICS, FINANCE, INTERNATIONAL BUSINESS, INTERNATIONAL STUDIES, AND NURSING. THE FIRST CLASSES OF BENEDICTINE ENGINEERS AND NURSES GRADUATED IN SPRING 2012. ALL THE NURSES PASSED THEIR EXAMS AND HAVE JOBS IN THE MEDICAL FIELD. THIS YEAR, 25 OF OUR PROFESSORS WERE RANKED IN THE TOP 10% OF THE NATIONAL IDEA FACULTY EVALUATIONS. FOR THE SIXTH YEAR, BENEDICTINE COLLEGE WAS NAMED ONE OF AMERICA'S BEST COLLEGES BY "U.S. NEWS & WORLD REPORT," APPEARING AS A TOP-TIER SCHOOL IN THE MIDWEST - MASTERS CATEGORY. IN ADDITION, THE CARDINAL NEWMAN SOCIETY NAMED BENEDICTINE COLLEGE ONE OF THE TOP CATHOLIC COLLEGES IN THE UNITED STATES IN ITS PUBLICATION, "THE NEWMAN GUIDE TO CHOOSING A CATHOLIC COLLEGE." AFTER AN EXTENSIVE NATIONAL STUDY, "FIRST THINGS" MAGAZINE ALSO NAMED BENEDICTINE COLLEGE TO ITS TOP 20. THE SCHOOL IS RANKED NUMBER 18 IN THE NATION BY THEIR RESEARCH, WHICH INCLUDED MORE THAN 2,000 COLLEGES AND UNIVERSITIES, FROM AMERICAN UNIVERSITY TO YALE. THE STUDY ALSO RANKED BENEDICTINE COLLEGE AMONG THE TOP 5 CATHOLIC COLLEGES IN THE COUNTRY. THE COLLEGE ALSO LAUNCHED AN HONORS PROGRAM, A GREGORIAN FELLOWS PROGRAM, AND THE GREGORIAN SPEECH DIGEST. LAST YEAR, A NEW INSTITUTE FOR MISSIONARY ACTIVITY WAS DEVELOPED. THE MINISTRY PROGRAM IS NATIONALLY RECOGNIZED, THE STUDENT LIFE PROGRAM HAS BECOME A MODEL FOR OTHER COLLEGES AND UNIVERSITIES, AND ATHLETIC PROGRAMS, INCLUDING THE ADDITION OF A NEW WRESTLING PROGRAM, ARE HIGH ACHIEVING IN EVERY ASPECT. BENEDICTINE COLLEGE IS CONSISTENTLY GAINING IN IMAGE AND AWARENESS. IT HAS AVERAGED 6% GROWTH IN ENROLLMENT EACH YEAR FOR THE PAST 13 YEARS. THE CAMPUS HAS BEEN TRANSFORMED, WITH NEW RESIDENCE FACILITIES AND NOW A FABULOUS NEW SIGNATURE ACADEMIC BUILDING. IN ADDITION, A SPECIALLY-COMMISSIONED STATUE OF ST. BENEDICT NOW WELCOMES VISITORS TO CAMPUS OUTSIDE THE HAVERTY CENTER. THE BENEDICTINE MONKS AND SISTERS WHO BRAVED THE AMERICAN FRONTIER OF THE MIDDLE 1800s WOULD BE PROUD TO SEE THE INSTITUTION THAT STILL REPRESENTS THEIR VISION OF COMMUNITY, FAITH AND SCHOLARSHIP IN SUCH AN OUSTANDING WAY. BUSINESS/FAMILY RELATIONSHIPS FORM 990, PART VI, SECTION A, LINE 2 LENE WESTERMAN AND PAUL WESTERMAN HAVE A FAMILY RELATIONSHIP. STEPHEN MCBRIDE AND SUSAN ZUBRADT HAVE A BUSINESS RELATIONSHIP. FORM 990 REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11A AN INDEPENDENT ACCOUNTING FIRM PREPARES AND REVIEWS THE 990. THE 990 IS THEN REVIEWED BY THE ORGANIZATION'S OFFICERS AND ACCOUNTING PERSONNEL. ANY QUESTIONS OR CONCERNS THE ORGANIZATION'S OFFICERS AND ACCOUNTING PERSONNEL HAVE ARE ADDRESSED AND ANY CORRECTIONS OR CLARIFICATIONS ARE MADE. THE 990 IS THEN PROVIDED TO THE FINANCE COMMITTEE OF THE BOARD AND THE FULL BOARD FOR REVIEW. CONFLICT OF INTEREST POLICY FORM 990, PART VI, SECTION B, LINE 12C AT THE TIME OF HIRE OR ELECTION (IN THE CASE OF DIRECTORS) AND ANNUALLY THEREAFTER, THE OFFICERS, DIRECTORS, AND KEY EMPLOYEES SHALL PROVIDE THE APPLICABLE CONFLICT OF INTEREST DISCLOSURES WHICH SHALL BE COMPLETED TO IDENTIFY ANY RELATIONSHIPS, POSITIONS, OR CIRCUMSTANCES IN WHICH IT IS BELIEVED A CONFLICT MAY ARISE. IF A CONFLICT ARISES, THE OFFICER, DIRECTOR, OR KEY EMPLOYEE ABSTAINS FROM THE VOTE OF THE CONFLICTED POSITION. AN APPROPRIATE REPORT SHALL BE SUBMITTED TO THE EXECUTIVE BOARD CONCERNING ANY INTEREST DISCLOSED. COMPENSATION REVIEW FORM 990, PART VI, SECTION B, LINES 15A & B LINE 15A - THE ORGANIZATION'S PROCESS FOR DETERMINING PRESIDENT COMPENSATION BEGAN WITH THE BOARD REQUIRING A 5 YEAR REVIEW OF THE PRESIDENT'S SALARY AND A REVIEW FOR THE SAME PERIOD AT COLLEGES OF LIKE SIZES. ADDITIONALLY, THE BOARD REQUIRED A COMPREHENSIVE REVIEW OF HIS SALARY TO INCLUDE NON-TANGIBLE BENEFITS. THE ORGANIZATION'S PROCESS FOR DETERMINING PRESIDENT COMPENSATION BEGINS WITH AN INITIATIVE LEAD BY THE CHAIRMAN OF THE GOVERNING BOARD. THE CHAIRMAN COMPARES COMPENSATION AND SALARY DATA WITH OTHER ORGANIZATIONS OF A SIMILAR SIZE AND INDUSTRY. THE CHAIRMAN REVIEWS THE DATA AND MAKES A RECOMMENDATION TO THE BOARD OF DIRECTORS IN A CLOSED EXECUTIVE COMMITTEE MEETING WHERE THE COMPENSATION IS THEN VOTED UPON. LINE 15B - THE PRESIDENT CONDUCTS AN ANNUAL REVIEW OF OTHER OFFICER AND KEY EMPLOYEE'S COMPENSATION BASED ON COMPARABLE SALARY DATA OF OTHER ORGANIZATIONS OF SIMILAR SIZE AND INDUSTRY. This past year we conducted a salary analysis of all positions vetted against national data and adjusted regionally. We made adjustments to salaries as appropriate and we will continue to do this on an ongoing basis. AVAILABILITY OF DOCUMENTS FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. HIGHLY COMPENSATED EMPLOYEES FORM 990, PART VII, LINE 35 Darrin Muggli appears on the 990 for FY 11-12 as a highly compensated employee due to external grant funding that pays him for the work he does on the grants along with his base salary from Benedictine. OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 5 UNREALIZED LOSS ON INVESTMENTS $ (139,724) INCREASE IN CSV OF LIFE INSURANCE $ 13,911 CHANGE IN PV OF SPLIT LIFE INSURANCE $ (6,205) -------------- $ (132,018) BOND ISSUE PURPOSE SCHEDULE K, PART I PART I - BOND ISSUES TAX-EXEMPT BONDS #1: BOND ISSUE (A), COLUMN (F). CONSTRUCTING, IMPROVING AND EQUIPPING EDUCATIONAL FACILITIES. BOND ISSUE (B), COLUMN (F). CONSTRUCTING, IMPROVING AND EQUIPPING EDUCATIONAL FACILITIES. BOND ISSUE (C), COLUMN (F). CONSTRUCTING, IMPROVING AND EQUIPPING EDUCATIONAL FACILITIES. BOND ISSUE (D), COLUMN (F). CONSTRUCTING, IMPROVING AND EQUIPPING EDUCATIONAL FACILITIES; REFUND 2003 BONDS (ORIGINALLY ISSUED ON 3-31-2003). TAX-EXEMPT BONDS #2: BOND ISSUE (A), COLUMN (F). CONSTRUCTION OF A NEW RESIDENCE HALL BOND ISSUE (B), COLUMN (F). PARTIALLY REFUND SERIES 2004 BONDS ISSUED 12/28/2004 BOND ISSUE PROCEEDS SCHEDULE K, PART II Part II - Proceeds TAX-EXEMPT BONDS #1 Column A, Line 3: Amount is not equal to the issue price due to investment earnings during the project period. Column A, Line 4: A portion of the reserve became transferred proceeds of the 2012 bonds. Column A, Line 12: There was approximately $823 of earnings deposited into the Project Fund after the end of the "project period." However, this amount was included in the "Total proceeds of issue" reported on Line 1 and reported as "unspent proceeds." Subsequent to the fiscal year end this amount was used to pay project expenditures. Column B, Line 3: Amount is not equal to the issue price due to investment earnings during the project period. Column C, Line 3: Amount is not equal to the issue price due to investment earnings during the project period. Column D, Line 11: This amount was used to refund the 2003 bonds. Column D, Line 12: Amounts held in the project fund as of the fiscal year end. Column D, Line 13: Not all projects were completed as of the fiscal year end. Column D, Line 16: Not all projects were completed as of the fiscal year end. TAX-EXEMPT BONDS#2 Column A, Line 12: Amounts held in the project fund as of the fiscal year end. Column A, Line 13: Not all projects were completed as of the fiscal year end. Column A, Line 16: Not all projects were completed as of the fiscal year end. Column B, Line 4: A portion of the debt service reserve fund for the 2004 bonds became transferred proceeds of the 2012 bonds. Column B, Line 11: This amount was used to refund a portion of the 2004 bonds.