2013-01-30T15:59:42-06:00 2012-06-30 340641962 BRUNER-COX LLP PO BOX 35429 CANTON OH 447355429 990 2011-07-01 340868798 WALSH UNIVERSITY INC WALS 3304997090 2020 EAST MAPLE ST NORTH CANTON OH 447203396 MICHELLE BROWN 3304997134 2013-01-29 1 DANIEL R RIEMENSCHNEIDER P00074065 3304972000 2011 2016-02-25 16:41:14Z RICHARD JUSSEAUME 2020 EAST MAPLE ST NORTH CANTON OH 447203396 72351078 0 X WWW.WALSH.EDU X 1958 OH WALSH UNIVERSITY IS AN INDEPENDENT, COEDUCATIONAL CATHOLIC, LIBERAL ARTS AND SCIENCES INSTITUTION. FOUNDED BY THE BROTHERS OF CHRISTIAN INSTRUCTION, WALSH UNIVERSITY IS DEDICATED TO EDUCATING ITS STUDENTS TO BECOME LEADERS IN SERVICE TO OTHERS THROUGH A VALUES-BASED EDUCATION WITH AN INTERNATIONAL PERSPECTIVE IN THE JUDEO-CHRISTIAN TRADITION. WALSH UNIVERSITY BELIEVES IN THE DESIRABILITY OF A SMALL UNIVERSITY THAT PROMOTES ACADEMIC EXCELLENCE, A DIVERSE COMMUNITY AND CLOSE STUDENT-TEACHER INTERACTIONS. THE UNIVERSITY PROVIDES ITS STUDENTS A HIGHER EDUCATION THAT FOSTERS CRITICAL THINKING, EFFECTIVE COMMUNICATION, SPIRITUAL GROWTH, AND PERSONAL, PROFESSIONAL AND CULTURAL DEVELOPMENT. WALSH UNIVERSITY ENCOURAGES INDIVIDUALS TO ACT IN ACCORDANCE WITH REASON GUIDED BY THE EXAMPLE AND TEACHINGS OF JESUS CHRIST. 35 33 1616 310 -200993 -200993 3579892 2011186 61684254 65609114 275773 363935 421044 418942 65960963 68403177 20115119 21529082 0 0 22970107 24781938 5000 0 850109 18619616 17904372 61709842 64215392 4251121 4187785 93229994 95845724 33679434 32668688 59550560 63177036 X WALSH UNIVERSITY IS AN INDEPENDENT, COEDUCATIONAL CATHOLIC, LIBERAL ARTS AND SCIENCES INSTITUTION. FOUNDED BY THE BROTHERS OF CHRISTIAN INSTRUCTION, WALSH UNIVERSITY IS DEDICATED TO EDUCATING ITS STUDENTS TO BECOME LEADERS IN SERVICE TO OTHERS THROUGH A VALUES-BASED EDUCATION WITH AN INTERNATIONAL PERSPECTIVE IN THE JUDEO-CHRISTIAN TRADITION. WALSH UNIVERSITY BELIEVES IN THE DESIRABILITY OF A SMALL UNIVERSITY THAT PROMOTES ACADEMIC EXCELLENCE, A DIVERSE COMMUNITY AND CLOSE STUDENT-TEACHER INTERACTIONS. THE UNIVERSITY PROVIDES ITS STUDENTS A HIGHER EDUCATION THAT FOSTERS CRITICAL THINKING, EFFECTIVE COMMUNICATION, SPIRITUAL GROWTH, AND PERSONAL, PROFESSIONAL AND CULTURAL DEVELOPMENT. WALSH UNIVERSITY ENCOURAGES INDIVIDUALS TO ACT IN ACCORDANCE WITH REASON GUIDED BY THE EXAMPLE AND TEACHINGS OF JESUS CHRIST. 0 0 57522378 21529082 65609114 THE UNIVERSITY PROVIDES APPROXIMATELY 3,000 STUDENTS ON SIX CAMPUS LOCATIONS A HIGHER EDUCATION THAT FOSTERS CRITICAL THINKING, EFFECTIVE COMMUNICATION, SPIRITUAL GROWTH, AND PERSONAL, PROFESSIONAL AND CULTURAL DEVELOPMENT. THE UNIVERSITY OFFERS THE FOLLOWING DEGREES: ASSOCIATE OF ARTS, ASSOCIATE OF SCIENCE IN COMPUTER SCIENCE, BACHELOR OF ARTS, BACHELOR OF SCIENCE, BACHELOR OF SCIENCE IN EDUCATION, BACHELOR OF SCIENCE IN NURSING, MASTER OF ARTS IN EDUCATION, MASTER OF BUSINESS ADMINISTRATION (MBA), MASTER OF ARTS IN COUNSELING AND HUMAN DEVELOPMENT, MASTER OF ARTS IN THEOLOGY, MASTER OF SCIENCE IN NURSING, DOCTOR OF NURSING PRACTICE, DOCTOR OF PHYSICAL THERAPY.WALSH UNIVERSITY IS ACCREDITED BY THE FOLLOWING: NORTH CENTRAL ASSOCIATION/HIGHER LEARNING COMMISSION, NATIONAL LEAGUE FOR NURSING ACCREDITING COMMISSION, THE COMMISSION ON ACCREDITATION IN PHYSICAL THERAPY EDUCATION, COUNCIL FOR ACCREDITATION OF COUNSELING AND RELATED EDUCATIONAL PROGRAMS, OHIO DEPARTMENT OF EDUCATION, OHIO BOARD OF COUNSELING & SOCIAL WORK, AMERICAN PHYSICAL THERAPY ASSOCIATION.WALSH UNIVERSITY'S LIBRARY HOUSES 132,890 VOLUMES, 226 PAPER SUBSCRIPTIONS, 105,520 ELECTRONIC PERIODICALS, 142,705 ELECTRONIC BOOKS, 208 ELECTRONIC DATABASES, 4,066 AUDIO VISUAL TITLES ON PHYSICAL MEDIA AND 9,471 STREAMING EDUCATIONAL VIDEOS. THE WALSH LIBRARY IS A MEMBER OF OCLC, OHIOLINK, OHIONET AND OPAL (OHIO PRIVATE ACADEMIC LIBRARIES) AND ALL LIBRARY RESOURCES ARE SEARCHABLE THROUGH THE INTERNET.THE STUDENT AFFAIRS TEAM IS A DIVERSE COLLECTION OF EDUCATORS COMMITTED TO THE HOLISTIC DEVELOPMENT OF STUDENTS, FIRMLY BELIEVING THAT ALL STUDENTS HAVE THE POTENTIAL TO BECOME VALUABLE ASSETS TO OUR WORLD COMMUNITY. MEMBERS OF THE STUDENT AFFAIRS TEAM EMBODY THE CHRISTIAN VALUES ESPOUSED IN THE UNIVERSITY MISSION STATEMENT, ENFLESHED BY OUR CARE AND CONCERN FOR STUDENTS, RELATIONSHIPS, AND THE COMMUNITY. WALSH UNIVERSITY PROVIDES OVER 1000 STUDENTS WITH HOUSING AND DINING SERVICES. SEVERAL OF THE NINE RESIDENCE HALLS ARE NEWLY CONSTRUCTED AND OFFER APARTMENT-STYLE AND SUITE-STYLE LIVING. DINING SERVICE FACILITIES INCLUDE THE SCHERVISH DINING HALL, THE BETZLER GRILLE, THE CAVALIER CAFE AND THE C-STORE OFFERING VARIOUS MEAL PLAN SELECTIONS AND DINING INNOVATIONS.WALSH UNIVERSITY'S ATHLETIC PROGRAM OFFERS 20 DIFFERENT MEN'S AND WOMEN'S ATHLETIC TEAMS AND CONTINUES TO ENJOY A WINNING TRADITION. WALSH HAS WON THE AMERICAN MIDEAST CONFERENCE (AMC) ALL-SPORTS AWARD AND NUMEROUS SPORTS CONFERENCE CHAMPIONSHIPS. IN 1998 WALSH WON ITS FIRST NAIA NATIONAL CHAMPIONSHIP BY WINNING THE WOMEN'S BASKETBALL TITLE, AND IN 2005 THE MEN'S BASKETBALL TEAM FOLLOWED WITH A NATIONAL CHAMPIONSHIP. IN 2011, THE MEN'S BASKETBALL TEAM CAPTURED ITS SEVENTH CONSECUTIVE AMC CHAMPIONSHIP TITLE AND ADVANCED AS FAR AS THE SWEET 16 OF THE NAIA CHAMPIONSHIP TOURNAMENT. IN ADDITION, THE WOMEN'S BASKETBALL TEAM WON ITS FIRST REGULAR AMC CHAMPIONSHIP SINCE 1989 AND REACHED THE FINAL FOUR IN THE NAIA CHAMPIONSHIP TOURNAMENT. WALSH'S 30 WINS ARE THE MOST IN SCHOOL HISTORY. THE WOMEN'S BASKETBALL TEAM WAS ONE OF FOUR NUMBER ONE SEEDS AT THE NATIONAL TOURNAMENT. DURING THE 2011-12 ACADEMIC YEAR, WALSH WAS IN CANDIDACY YEAR TWO FOR NCAA DIVISION II MEMBERSHIP, WHICH PROHIBITED THEM FROM COMPETING FOR A NATIONAL CHAMPIONSHIP. WHILE STILL A MEMBER OF THE AMERICAN MIDEAST CONFERENCE THE CAVS PRODUCED CHAMPIONS IN MEN'S SOCCER, MEN'S BASKETBALL, MEN AND WOMEN'S TRACK, VOLLEYBALL AND SOFTBALL.WALSH UNIVERSITY ATHLETICS HAS MOVED FROM CANDIDACY YEAR TWO TO PROBATIONARY STATUS FOR THE 2012-1013 ACADEMIC YEAR. RECENTLY, WALSH WAS ADMITTED INTO MEMBERSHIP OF THE GREAT LAKES INTERCOLLEGIATE ATHLETIC CONFERENCE OF THE NCAA II AND WILL COMPETE FOR SOME SELECTED CONFERENCE CHAMPIONSHIPS IN 2012-2013 AND FOR ALL CONFERENCE CHAMPIONSHIPS ONCE THE ATHLETICS PROGRAM IS GRANTED FULL MEMBERSHIP INTO THE NCAA II (ANTICIPATED DATE OF JULY 2013).WALSH'S NEW BIRK CENTER FOR THE ARTS OPENED IN JANUARY 2012. THE 13,002 SQUARE FOOT STRUCTURE PROVIDES A NURTURING HOME FOR THE CREATIVE ARTS ON OUR CAMPUS, SUPPORTING ACADEMIC AND CO-CURRICULAR PROGRAMS IN MUSIC, VISUAL ART, DRAMA AND DANCE. IT WILL ALSO HOUSE NEW COMMUNITY BASED PROJECTS TO PROVIDE OUTREACH IN THE ARTS TO YOUTH AS WELL AS ADULTS. CONSTRUCTION BEGAN IN MARCH 2012 ON THE 29,000 SQUARE FOOT, 69-BED RESIDENCE HALL ADDITION TO LEMMON HALL AND CONNECTS TO THAT BUILDING ON THE FIRST FLOOR. THROUGH SUITE-STYLE ACCOMMODATIONS, THE NEW ADDITION REFERRED TO AS "THE COMMONS" FOR NOW, WILL HOUSE HONORS AND INTERNATIONAL STUDENTS AS WELL AS THE INAUGURAL CLASS OF THE BROTHER BLOUIN GLOBAL SCHOLARS PROGRAM. 57522378 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 1 1 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 125 0 1 1616 1 1 1 1 IT 0 0 0 1 1 0 0 0 0 X 35 33 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 0 0 X MICHELLE BROWN VP FOR FINANCE & BUSINESS AFFAIRS 3304907134 WALSH UNIVERSITY INC NORTH CANTON OH 447203396 X GERALD WALSH 2.00 X 0 0 0 DANIEL P CUNNINGHAM 2.00 X 0 0 0 BR JEROME LESSARD 2.00 X 0 0 0 ROBERT F BELDEN 2.00 X 0 0 0 DENNIS BIERY 2.00 X 0 0 0 BR LEVI BOUDREAU 2.00 X 0 0 0 BR DANIEL CARON 2.00 X 0 0 0 DONALD L CASTER 2.00 X 0 0 0 THOMAS E CECCONI 2.00 X 0 0 0 MSGR JAMES CLARKE 2.00 X 0 0 0 FRANK D'ANGELO 2.00 X 0 0 0 ROGER DEVILLE 2.00 X 0 0 0 JOHN E DOWLING 2.00 X 0 0 0 TIMOTHY FAUTSKO 2.00 X 0 0 0 GRETCHEN A GRAHAM 2.00 X 0 0 0 EDWARD KLEKOTKA 2.00 X 0 0 0 JUDITH BARNES LANCASTER 2.00 X 0 0 0 JUDGE SARA LIOI 2.00 X 0 0 0 GREGORY W LUNTZ 2.00 X 0 0 0 EDWARD A MAHONEY III 2.00 X 0 0 0 LEONARD MILAZZO 2.00 X 0 0 0 BISHOP GEORGE MURRY 2.00 X 0 0 0 MICHAEL A PETRECCA 2.00 X 0 0 0 ALFONSO REVOLLO 2.00 X 0 0 0 BR GUY RODDY 2.00 X 0 0 0 E JEFFREY ROSSI 2.00 X 0 0 0 EDWARD J ROTH III 2.00 X 0 0 0 PAUL L RUFLIN 2.00 X 0 0 0 DR MARK JOSEPH SHEPARD MD 2.00 X 0 0 0 THEODORE STULTS 2.00 X 0 0 0 FR JAMES SULLIVAN 2.00 X 0 0 0 TED SWALDO 2.00 X 0 0 0 BR MARCEL SYLVESTRE 2.00 X 0 0 0 DONALD WALKER 2.00 X 0 0 0 LOUIS ZACHARILLA 2.00 X 0 0 0 RICHARD L JUSSEAUME 40.00 X 266933 0 76443 LAURENCE BOVE 40.00 X 130440 0 23026 PHILIP J DANIELS 40.00 X 114452 0 23831 MICHELLE BROWN 40.00 X 82657 0 8540 NEIL G WALSH 40.00 X 55530 0 16409 CHAD COOK 40.00 X 114573 0 17431 BRETT FRESHOUR 40.00 X 107103 0 23774 DALE HOWARD 40.00 X 106531 0 25158 BRIDGETTE NEISEL 40.00 X 107468 0 25042 1085687 0 239654 7 0 1 0 SODEXO INC & AFFILIATES 4880 PAYSPHERE CIRCLE CHICAGO IL 60674 DINING SERVICES 2710824 FRED OLIVIER CONSTRUCTION CO 6315 PROMWAY AVE NW NORTH CANTON OH 44720 CONSTRUCTION CONTRACTOR 1486592 MOTTER & MEADOWS 600 MARKET AVE N CANTON OH 44702 ARCHITECT 153077 PARAGRAPHICS INC 2011 29TH ST NW CANTON OH 44709 PRINTING & MAILING SERVICES 103814 4 5580 656869 1348737 2011186 TUITION AND FEES 900099 55154026 55154026 SALES/SERVICE AUXILIAR 900099 10455088 10455088 65609114 339341 339341 512651 794360 -281709 -281709 -45371 -236338 2093702 1039900 1870981 1238027 222721 -198127 24594 -155622 180216 81340 5580 44533 36807 36807 OTHER REVENUE 900099 620236 620236 RECOVERY OF BAD DEBTS 900099 23386 23386 INTEREST INCOME STUDEN 900099 11124 11124 9098 9098 663844 68403177 65609114 -200993 983870 20619 20619 21508463 21508463 609264 165796 443468 19700416 17625933 1575798 498685 795184 687918 77786 29480 2079551 1807113 224127 48311 1597523 1409945 146127 41451 46157 46157 145399 200 145199 1521446 1180371 329674 11401 652455 361742 288248 2465 3151588 1614433 1451876 85279 1931189 1890197 40047 945 1284256 1168815 71652 43789 386013 386007 6 3333560 3325252 7791 517 243814 82643 161171 OTHER AUXILIARY 2710741 2610097 46139 54505 OTHER INSTRUCTIONAL EXP 1096343 1081759 12914 1670 OTHER ACADEMIC SUPPORT 560329 181400 374666 4263 DUES/MEMBERSHIPS/SUBSCR 390215 293257 90177 6781 450867 120418 309882 20567 64215392 57522378 5842905 850109 89858 29266 12672501 11763096 2629034 2346956 2369968 2716768 2456651 2495235 23145 24813 62686 267271 100567881 37432509 61248416 63135372 7550937 8201500 3794567 4530282 332231 335165 93229994 95845724 2533158 2864476 278696 353723 28125000 26625000 2742580 2825489 33679434 32668688 X 45373234 49089932 5394747 4946159 8782579 9140945 59550560 63177036 93229994 95845724 X 4187785 -561309 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 283902 X 0 12528287 1147061 104398 322511 126443 13330792 8917193 2173087 1848465 290332 120126 12528287 7189514 1280315 825164 328229 49571 8917193 8003022 818304 -1582915 48897 7189514 0.31700 0.68300 0 0 1116776 1116776 70077052 18714594 51362458 1085650 568373 517277 16037315 13712156 2325159 12251088 4437386 7813702 63135372 INTEREST PAYABLE 221101 FUNDS HELD FOR OTHERS 136191 US GOVT GRANTS REFUNDABLE 1122576 INTEREST RATE SWAP 1037086 TUITION DEPOSITS 308535 2825489 68403177 64215392 4187785 -450297 -111012 -561309 3626476 47352665 -450297 -21612872 -22063169 69415834 -1012657 -1012657 68403177 43726189 1019260 1019260 42706929 21508463 21508463 64215392 PART III, LINE 4: WALSH UNIVERSITY OWNS THE HOOVER HISTORICAL CENTER OF WALSH UNIVERSITY, WHICH IS A SMALL MUSEUM THAT HOUSES A COLLECTION OF VACUUM CLEANERS AND OTHER ITEMS FROM THE HOOVER COMPANY. THE HOOVER HISTORICAL CENTER WAS DONATED TO WALSH UNIVERSITY IN 2004 AND NOW SUPPORTS THE MUSEUM STUDIES PROGRAM AT THE UNIVERSITY. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE MAJORITY OF THE ENDOWMENT FUNDS ARE USED FOR SCHOLARSHIPS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE UNIVERSITY IS A NONPROFIT ORGANIZATION AS DESCRIBED IN INTERNAL REVENUE CODE SECTION 501(C)(3) AND IS EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. THE UNIVERSITY FOLLOWS ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES TOPIC OF THE FASB ACCOUNTING STANDARDS CODIFICATION, WHICH ADDRESSES THE INFORMATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE UNIVERSITY MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE-LIKELY-THAN-NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. IN ADDITION, THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ADDRESSES DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. MANAGEMENT HAS DETERMINED THAT THE EFFECTS OF THIS PRONOUNCEMENT TO BE INSIGNIFICANT, THEREFORE NO ADJUSTMENTS HAVE BEEN RECORDED AND NO FURTHER DISCLOSURES REQUIRED. PART XI, LINE 8 - OTHER ADJUSTMENTS: GAIN/LOSS ON DERIVATIVES -104,409. NET INCOME FROM KENTUCKY DERBY & FASHION SHOW FUNDRAISING EVENTS -6,603. TOTAL TO SCHEDULE D, PART XI, LINE 8: -111,012. PART XII, LINE 2D - OTHER ADJUSTMENTS: TUITION DISCOUNTS -21,508,463. INTEREST RATE SWAP -104,409. PART XII, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES SHOWN ON 990 PART VIII LN 6B -794,360. FUNDRAISING EXPENSES SHOWN ON 990 PART VIII LN 8B -44,533. LOSS ON SALE OF FIXED ASSETS SHOWN ON 990 PART VIII LN 7C -198,127. REVENUE FROM KENTUCKY DERBY & FASHION SHOW FUNDRAISING EVENTS 24,363. PART XIII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES SHOWN ON 990 PART VIII LN 6B 794,360. FUNDRAISING EXPENSES SHOWN ON 990 PART VIII LN 8B 44,533. LOSS ON SALE OF FIXED ASSETS SHOWN ON 990 PART VIII LN 7C 198,127. EXPENSES FROM KENTUCKY DERBY & FASHION SHOW FUNDRAISING EVENTS -17,760. PART XIII, LINE 4B - OTHER ADJUSTMENTS: TUITION DISCOUNTS 21,508,463. 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 LOCAL NEWSPAPERS AND OTHER PRINT MEDIA OF GENERAL CIRCULATION EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 FUNDS ARE PROVIDED BY GOVERNMENT AGENCIES UNDER VARIOUS FINANCIAL ASSISTANCE PROGRAMS AND ARE LOANED TO QUALIFIED STUDENTS. THE RECEIPT OF SUCH FUNDS GENERALLY REQUIRES COMPLIANCE AUDITS SO THAT THE TERMS AND CONDITIONS OF THE GRANTOR ARE MET. EUROPE 1 4 PROGRAM SERVICES INSTRUCTIONAL 623985 1 4 0 0 1 4 623985 0 623985 0 0 0 0 0 0 LAS VEGAS NIGHT 32530 32530 504 7149 FAREY RAFFLE 24447 24447 19120 2 29943 5580 24363 17760 86920 5580 81340 504 44029 44533 36807 0 X SCHOLARSHIPS FOR STUDENTS 1888 19686705 DISCOUNTS ON TUITION FOR STUDENTS 298 1821758 X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 RICHARD L JUSSEAUME 180545 0 30000 0 56388 0 51419 0 25024 0 343376 0 0 0 LAURENCE BOVE 129183 0 0 0 1257 0 9234 0 13792 0 153466 0 0 0 PART I, LINE 1A THE PRESIDENT'S CONTRACT INCLUDES A HOUSING ALLOWANCE THAT THE UNIVERSITY PAYS AS PART OF HIS WAGES. ALSO, COUNTRY CLUB DUES ARE PAID BY THE UNIVERSITY, AND THE PRESIDENT IS TAXED ON HIS W-2 FOR THE PERSONAL PORTION OF THOSE DUES. OHIO HIGHER EDUCATION EDUCATION FACILITY COMMISSION 346849674 2009-11-19 30000000 REFUNDING ISSUE 0 0 0 30000000 2007 1 0 1 1 0 0 1 1 0 0.00240 0.00800 0.01040 1 0 1 0 0 0 1 AULTCARE INSURANCE COMPANY EDWARD ROTH III IS A BOARD MEMBER OF WALSH AND EXECUTIVE VP OF AULTCARE 772550 THE UNIVERSITY CONTRACTS WITH AULTCARE INSURANCE COMPANY FOR HEALTH AND DENTAL INSURANCE AS WELL AS THE THIRD PARTY ADMINISTRATOR (AULTRA/AULTRA SELF) OF OUR HEALTH AND DEPENDENT CARE FLEXIBLE SPENDING ACCOUNTS. EDWARD J. ROTH, III IS CURRENTLY A MEMBER OF THE UNIVERSITY'S BOARD OF DIRECTORS AND IS THE PRESIDENT OF AULTMAN HEALTH FOUNDATION. THE SELECTION OF AULTCARE WAS MADE PRIOR TO MR. ROTH'S APPOINTMENT TO THE BOARD. EVERY TWO YEARS, THE UNIVERSITY RECEIVES COMPETITIVE QUOTES FROM THE RESULTS OF THE MARKET RESEARCH PERFORMED BY OUR BROKERS. IF AND WHEN ANY ISSUES CONCERNING AULTCARE ARE TAKEN TO THE BOARD, MR. ROTH WILL FOLLOW THE GUIDELINES SET BY THE CONFLICT OF INTEREST POLICY AND WILL ABSTAIN FROM VOTING. 0 MERCY MEDICAL THOMAS CECCONI IS PRESIDENT & CEO OF MERCY MEDICAL AND WALSH BOARD MEMBER 111561 THE UNIVERSITY CONTRACTS WITH MERCY MEDICAL CENTER, INC. TO PROVIDE ATHLETIC TRAINING SERVICES FOR THE UNIVERSITY'S ATHLETIC PROGRAM. MERCY MEDICAL CENTER'S WORK HEALTH & SAFETY SERVICES ALSO PROVIDE A STUDENT HEALTH CENTER MANAGEMENT PROGRAM AT THE UNIVERSITY. IF AND WHEN ANY ISSUES CONCERNING MERCY MEDICAL ARE TAKEN TO THE BOARD, MR. CECCONI WILL FOLLOW THE GUIDELINES SET BY THE CONFLICT OF INTEREST POLICY AND WILL ABSTAIN FROM VOTING. 0 AULTRA SELF EDWARD ROTH III IS A BOARD MEMBER OF WALSH AND EXECUTIVE VP OF AULTRA SELF 305729 SEE DESCRIPTION FOR AULTCARE. 0 0 FORM 990, PART VI, SECTION B, LINE 11 STARTING IN 2010 (FOR THE TAX YEAR ENDING JUNE 30, 2009), EACH YEAR A DRAFT OF THE FORM 990 WILL BE PRESENTED TO THE FINANCE AND AUDIT COMMITTEE FOR DISCUSSION AND APPROVAL AT THE FEBRUARY MEETING. UPON APPROVAL, THE FINANCE AND AUDIT COMMITTEE WILL RECOMMEND APPROVAL OF THE FORM 990 BY THE FULL BOARD. THE APPROVED COPY OF THE FORM 990 WILL BE MADE AVAILABLE TO ALL BOARD MEMBERS THROUGH ELECTRONIC MAIL. SCHEDULE B WILL BE REDACTED IN THE EMAILED VERSION WITH A HARD COPY MADE AVAILABLE TO THE BOARD AT THE FINANCE OFFICE. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR, THE PRESIDENT'S OFFICE SENDS OUT "CONFIDENTIAL DISCLOSURE STATEMENTS" TO ALL MEMBERS OF THE BOARD OF DIRECTORS AND THE UNIVERSITY'S OFFICERS. BY COMPLETING AND SIGNING THE STATEMENTS EACH MEMBER OR OFFICER IS CERTIFYING THAT THEY HAVE CAREFULLY READ THE WALSH UNIVERSITY BOARD OF DIRECTORS CONFLICT OF INTEREST POLICY; THAT THEY WILL ABIDE BY THE LETTER AND THE SPIRIT OF THE POLICY AND THAT THEY WILL MAKE ALL DISCLOSURES REQUIRED UNDER THE TERMS OF THE POLICY. THE COMPLETED AND SIGNED STATEMENTS ARE SENT TO THE SECRETARY OF THE BOARD OF DIRECTORS. THE SECRETARY AND THE CHAIR OF THE BOARD REVIEW THE STATEMENTS AND MAKE A DETERMINATION AS TO THE LIKELIHOOD OF ANY ACTUAL OR POTENTIAL CONFLICTS OF INTERESTS. FORM 990, PART VI, SECTION B, LINE 15A IN THE SPRING OF 2007, THE CURRENT COMPENSATION COMMITTEE WAS FORMED TO AMEND THE PRESIDENT'S CONTRACT. THE COMMITTEE CONSISTS OF THE CHAIRMAN OF THE BOARD OF DIRECTORS, THE VICE-CHAIRMAN OF THE BOARD OF DIRECTORS, THE FINANCE AND AUDIT COMMITTEE CHAIRMAN, AND THE VP OF FINANCE AND BUSINESS AFFAIRS/CFO. ADDITIONAL INPUT CAME FROM THE DIRECTOR OF HUMAN RESOURCES. THE COMMITTEE ESTABLISHED THE PRESIDENT'S CONTRACT AMENDMENT NO. 1, EFFECTIVE JULY 1, 2007, WHICH DEFINES ADDITIONAL BENEFITS. THE COMPENSATION COMMITTEE USED THE FOLLOWING INFORMATION AND SERVICES TO ESTABLISH THE AMENDMENT; THE NAICU PRESIDENTS NETWORK SALARY SURVEY, THE CUPA-HR ADMINISTRATIVE COMPENSATION SURVEY, CONSULTING AND LEGAL SERVICES. EACH YEAR THE CHAIRMAN AND VICE-CHAIRMAN OF THE BOARD APPROVE THE PRESIDENT'S BONUS. THE COMMITTEE WOULD ONLY CONVENE IF THE PRESIDENT WAS BEING AWARDED A HIGHER PERCENTAGE OF INCREASE THAN THE REST OF THE FACULTY AND STAFF OF THE UNIVERSITY. EACH YEAR ALL CONTRACT ADJUSTMENTS AND BONUS ALLOCATIONS ARE APPROVED BY THE BOARD OF DIRECTORS AT THE MAY BOARD MEETING THROUGH THE APPROVAL OF THE NEXT YEAR'S OPERATING BUDGET. FORM 990, PART VI, SECTION C, LINE 19 WALSH UNIVERSITY DOES NOT MAKE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENT AVAILABLE TO THE GENERAL PUBLIC. HOWEVER, THE UNIVERSITY WILL PROVIDE THESE DOCUMENTS TO THE GENERAL PUBLIC UPON REQUEST. REASON TWO TREASURERS LISTED FORM 990, PART VII, SECTION A PHILIP DANIELS LEFT UNIVERSITY IN MARCH 2012. MICHELLE BROWN WAS PROMOTED TO TREASURER/VP OF FINANCE AND BUSINESS AFFAIRS AND BEGAN NEW POSITION IN APRIL 2012. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -450,297. GAIN/LOSS ON DERIVATIVES -104,409. NET INCOME FROM KENTUCKY DERBY & FASHION SHOW FUNDRAISING EVENTS -6,603. TOTAL TO FORM 990, PART XI, LINE 5: -561,309.