2013-04-09T15:13:01-05:00 2012-05-31 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 777 E WISCONSIN AVENUE 32ND FLOOR MILWAUKEE WI 53202 990 2011-06-01 390808497 BELOIT COLLEGE BELO 6083632205 700 COLLEGE ST BELOIT WI 53511 JOHN M NICHOLAS 6083632205 2013-04-09 1 TROY E MARINE CPA P00187863 4147775500 2013-04-09 2011 2016-02-25 16:41:14Z DR H SCOTT BIERMAN 700 COLLEGE ST BELOIT WI 53511 76108924 0 X WWW.BELOIT.EDU X 1846 WI SEE SCHEDULE O 28 28 1737 30 156772 0 10254906 11484288 52687182 54056484 5193025 1566443 814067 1013615 68949180 68120830 22248689 23092367 0 0 26246471 27534923 0 0 2443285 19590940 24048007 68086100 74675297 863080 -6554467 229100293 220675323 76321651 79236871 152778642 141438452 SEE SCHEDULE O 0 0 65152078 23092367 54056484 IN THE 2011-2012 ACADEMIC YEAR BELOIT COLLEGE SERVED 1,489 STUDENTS FROM 39 COUNTRIES, 50 STATES AND THE DISTRICT OF COLUMBIA. THESE SERVICES WERE OFFERED IN THREE SEPARATE EDUCATIONAL SESSIONS IN THE FALL, SPRING AND SUMMER. EDUCATIONAL ACTIVITIES OCCURRED DOMESTICALLY BOTH ON AND OFF THE CENTRAL CAMPUS AND ALSO OCCURRED OVERSEAS THROUGH STUDY ABROAD PROGRAMS. 310 STUDENTS GRADUATED DURING THE YEAR AND APPROXIMATELY 1,272 STUDENTS RECEIVE FINANCIAL ASSISTANCE FROM BELOIT COLLEGE. 65152078 1 1 0 0 0 1 0 1 0 1 1 0 0 0 1 1 1 0 1 1 1 0 1 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 1 157 0 1 1737 1 1 1 0 0 0 0 1 1 0 0 0 0 X 28 28 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 1 1 0 X X RICK LEMKE 6083632205 700 COLLEGE STREET BELOIT WI 53511 MR BILL BOYD 1.00 X 0 0 0 MR CHUCK MCQUAID 1.00 X 0 0 0 MR DICK NIEMIEC 1.00 X 0 0 0 MR DONALD CARSON 1.00 X 0 0 0 MR EUGENE ZELTMANN 1.00 X 0 0 0 MR GENE BANUCCI 1.00 X 0 0 0 MR HAROLD F MAYER 1.00 X 0 0 0 MR J DON WYATT 1.00 X 0 0 0 MR JACK ROZRAN 1.00 X 0 0 0 MR JAMES PACKARD 1.00 X 0 0 0 MR JAMES SANGER 1.00 X 0 0 0 MR OSCAR E CARDONA 1.00 X 0 0 0 MR PETER CHATILOVICZ 1.00 X 0 0 0 MR PHEE BOON KANG 1.00 X 0 0 0 MR RICHARD CLAYTON 1.00 X 0 0 0 MR ROBERT SHAW 1.00 X 0 0 0 MR ROBERT YOUNG 1.00 X 0 0 0 MR SHAMS RASHID 1.00 X 0 0 0 MR STEPHEN H MAHLE 1.00 X 0 0 0 MR STEVEN COHEN 1.00 X 0 0 0 MR THOMAS ONEILL 1.00 X 0 0 0 MR THOMAS WALCOTT 1.00 X 0 0 0 MS DIANE HENDRICKS 1.00 X 0 0 0 MS JO FROMAN 1.00 X 0 0 0 MS JOANNA KUTTER 1.00 X 0 0 0 MS JUDITH MILLER 1.00 X 0 0 0 MS MARGARET ROBINSON 1.00 X 0 0 0 MS NINA WEISSBERG 1.00 X 0 0 0 MS SUDHA P QUAMME 1.00 X 0 0 0 DR ANN DAVIES 40.00 X 157516 0 20531 DR CHRISTINA KLAWITTER 40.00 X 55503 0 5364 DR H SCOTT BIERMAN 40.00 X 345810 0 50144 MR JOHN NICHOLAS 40.00 X 153569 0 16882 MR R JEFF PUCKETT 40.00 X 226543 0 33653 MS CONNIE TRUESDALE 40.00 X 56184 0 15153 MS NANCY BENEDICT 40.00 X 137008 0 21744 MR JERRY GUSTAFSON 40.00 X 112664 0 19356 MR JOHN JUNGCK 40.00 X 107322 0 19996 MS BETH MONTIERO 40.00 X 134479 0 22360 MS SUSAN CLEVERDON 40.00 X 101256 0 9627 MR BILL FLANAGAN 40.00 X 112102 0 11612 1699956 0 246422 10 1 1 0 PETERSON COMPANIES INC 8326 WYOMING TRAIL CHISAGO MN 55013 CONSTRUCTION 1168497 KLOBUCAR CONSTRUCTION 3140 EAST COUNTY ROAD S BELOIT WI 53511 CONSTRUCTION 780340 RENAISSANCE ROOFING PO BOX 5024 ROCKFORD IL 61125 CONSTRUCTION 221286 BADGER PRESS INC 100 E BLACKHAWK DR PO BOX 610 FORT ATKINSON WI 53538 FINANCIAL SERVICES 161945 DATATEL INC 4375 FAIR LAKES COURT FAIRFAX VA 22033 SOFTWARE AND PROFESSIONAL SERVICES 150746 9 16496 1770163 9697629 709619 11484288 TUITION & FEES 812900 45758959 45758959 ROOM, BOARD & OTHER 812900 8297525 8297525 54056484 2641040 2641040 3016 3016 24240 0 24240 24240 24240 6886279 14255 7948356 26775 -1062077 -12520 -1074597 -1074597 9100 16496 12963 -3863 -3863 MISCELLANEOUS INCOME 900099 857690 857690 CONFERENCES 721000 132532 132532 990222 68120830 54056484 156772 2423286 21800765 21800765 1291602 1291602 1465961 486621 699867 279473 19917961 16006989 2502704 1408268 1371482 1089429 187337 94716 3431149 2610175 674969 146005 1348370 1076545 175419 96406 70247 1543 68404 300 96673 96673 119616 119616 6446296 4577156 1565415 303725 40027 20396 19631 1837558 1485202 301884 50472 2378 2378 1418247 1418247 1151342 1021709 84262 45371 341107 296428 26238 18441 6940882 6940882 3675816 3294807 381009 169669 11582 158087 COST OF SALES - FOOD FO 1234939 1194746 40193 COLLECTIONS 507529 507529 MISCELLANEOUS OTHER -4319 17347 -21774 108 74675297 65152078 7079934 2443285 471297 317883 11512207 7731187 4820895 5443365 1448493 913195 8378195 8238274 72666 52385 419919 163623 131964907 53590288 78941493 78374619 117623362 114277508 828273 857111 4583493 4306173 229100293 220675323 4248528 3979205 210821 89967 58640000 58540000 13222302 16627699 76321651 79236871 X 57112089 45821196 22486666 21520964 73179887 74096292 152778642 141438452 229100293 220675323 X -6554467 -4785723 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 140000 438158 1 1 722579 X X X 0 118664445 2774411 -2634589 1206005 4315657 113282605 102942506 4474866 15831503 1238397 3346033 118664445 89083136 6038079 12660647 1345392 3493964 102942506 124956518 7156062 -33237676 1471230 8320538 89083136 0.41000 0.59000 0 0 1593634 1593634 112252028 43730173 68521855 75744 75744 0 8283122 6248638 2034484 9760379 3535733 6224646 78374619 STUDENT DEPOSITS 562726 FUNDS HELD FOR OTHERS 757540 REFUNDABLE LOAN FUNDS 2525140 ANNUITIES PAYABLE 2890089 DERIVATIVE LIABILITY 9892204 16627699 68120830 74675297 -6554467 -4177529 -608194 -4785723 -11340190 40136087 -4177529 -23687598 -27865127 68001214 119616 119616 68120830 51476277 12963 12963 51463314 119616 23092367 23211983 74675297 PART III, LINE 4: THE COLLEGE MAINTAINS AN ANTHROPOLOGICAL MUSEUM AND AN ART MUSEUM. THE COLLECTIONS ARE DISPLAYED FOR PUBLIC VIEWING. HOWEVER, SPACE LIMITATIONS REQUIRE THAT ONLY PORTIONS OF THE COLLECTION ARE DISPLAYED AT A GIVEN TIME. THE COLLECTIONS AND THEIR PRESERVATION ARE USED IN THE CLASSROOM SETTING FOR INSTRUCTIONAL PURPOSES IN AREAS OF STUDY SUCH AS ANTHROPOLOGY, ART AND MUSEUM STUDIES. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE PURPOSE OF THE COLLEGE'S ENDOWMENT FUND IS TO PROVIDE A CONTINUOUS SOURCE OF FUNDING TO SUPPORT THE MISSION OF THE INSTITUTION. ENDOWMENT FUND EXPENDITURES PROVIDE FUNDING FOR SCHOLARSHIPS, FACULTY SALARIES, LIBRARY RESOURCES, AND OTHER PROGRAM ACTIVITIES. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE COLLEGE FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE COLLEGE FOR UNCERTAIN TAX POSITIONS AS OF MAY 31, 2012 AND 2011. THE COLLEGE'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE TAX RETURNS FOR FISCAL YEARS 2009 AND THEREAFTER ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -376,100. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUSTS -232,094. TOTAL TO SCHEDULE D, PART XI, LINE 8: -608,194. PART XII, LINE 2D - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID -23,092,367. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -376,100. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUSTS -232,094. SPECIAL EVENTS EXPENSE 12,963. PART XIII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSE 12,963. PART XIII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 23,092,367. 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 BELOIT COLLEGE IS A FOUR YEAR PRIVATE LIBERAL ARTS INSTITUTION THAT DRAWS STUDENTS NOT ONLY NATION WIDE BUT WORLD WIDE. MATERIALS USED IN PROMOTIONAL ACTIVITIES AND RECRUITING EFFORTS INCLUDE STATEMENTS THAT BELOIT COLLEGE DOES NOT DISCRIMINATE AGAINST STUDENTS, APPLICANTS FOR ADMISSION, APPLICANTS FOR FINANCIAL ASSISTANCE, APPLICANTS FOR EMPLOYMENT, OR EMPLOYEES ON THE BASIS OF SEX, RACE, COLOR, RELIGION, NATIONAL ORIGIN, ANCESTRY, AGE, SEXUAL ORIENTATION, OR PHYSICAL OR MENTAL DISABILITIES UNRELATED TO INSTITUTIONAL JOBS, PROGRAMS, OR ACTIVITIES. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 BELOIT COLLEGE DID RECEIVE FEDERAL FUNDS, WHICH WERE USED FOR STUDENT PROGRAMS/ENTITLEMENTS SUCH AS PELL GRANTS, SEOG GRANTS, AND WORKSTUDY PROGRAMS. 1 SOUTH AMERICA 0 0 ABROAD STUDENT SUPPORT PROGRAM SERVICES 9351 SOUTH AMERICA 0 0 STUDENT RESEARCH PROGRAM SERVICES EUROPE 0 0 EDUCATIONAL SERVICES PROGRAM SERVICES 221488 CENTRAL AMERICA & THE CARIBBEAN 0 0 ABROAD STUDENT SUPPORT PROGRAM SERVICES SUB-SAHARAN AFRICA 0 0 EDUCATIONAL SERVICES PROGRAM SERVICES 42230 MIDDLE EAST AND NORTH AFRICA 0 0 EDUCATIONAL SERVICES PROGRAM SERVICES 11464 EAST ASIA AND THE PACIFIC 0 0 EDUCATIONAL SERVICES PROGRAM SERVICES 108987 RUSSIA 0 0 EDUCATIONAL SERVICES PROGRAM SERVICES 3000 NORTH AMERICA 0 0 EDUCATIONAL SERVICES PROGRAM SERVICES 5276 0 0 0 0 0 0 396520 5276 401796 SCHOLARSHIP SOUTH AMERICA 17 179040 SEE PART VI SCHOLARSHIP EUROPE/ ICELAND/ GREENLAND 40 420311 SEE PART VI SCHOLARSHIP RUSSIA 8 60755 SEE PART VI SCHOLARSHIP SUB-SAHARAN AFRICA 16 166288 SEE PART VI SCHOLARSHIP MIDDLE EAST / NORTH AFRICA 6 47105 SEE PART VI SCHOLARSHIP EAST ASIA / PACIFIC 33 370087 SEE PART VI SCHOLARSHIP SOUTH ASIA 2 13801 SEE PART VI SCHOLARSHIP CENT. AMERICA / CARIBBEAN 2 19961 SEE PART VI SCHOLARSHIP NORTH AMERICA 1 14254 SEE PART VI 0 0 0 0 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: IN CASES WHERE FUNDS ARE SPENT AWAY FROM CAMPUS, APPROPRIATE DOCUMENTATION IS REQUIRED TO BE SUBMITTED AND APPROVED TO SUBSTANTIATE THE EXPENSE. SCHEDULE F, PART III, COLUMN E: GRANT FUNDS AWARDED IN THE FORM OF STUDENT FINANCIAL ASSISTANCE IS CREDITED TO THEIR TUITION ACCOUNT TO ASSIST IN COVERING THE COST OF TUITION. BUC OPEN 25596 16496 9100 250 6154 343 6217 25596 16496 9100 250 6154 343 6217 12964 -3864 1 STUDENT FINANCIAL ASSISTANCE 1272 21800765 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: GRANTS ARE AWARDED IN THE FORM OF FINANCIAL ASSISTANCE TOWARDS THE PAYMENT OF TUITION AND FEES IN WHICH CASE THE GRANT AMOUNTS ARE APPLIED DIRECTLY TO THE STUDENT'S ACCOUNT. OTHER GRANTS ARE AWARDED FOR VARIOUS REASONS TO STUDENTS, FACULTY AND STAFF FOR EDUCATIONAL OR WORK RELATED ACTIVITIES. IN THESE CASES EXPENSE VERIFICATION IS REQUIRED IN THE FORM OF RECEIPTS AND OTHER APPROPRIATE DOCUMENTATION. X X X X X 1 1 X X X X 1 0 0 0 0 0 0 0 0 DR ANN DAVIES 154216 0 0 0 3300 0 15603 0 4928 0 178047 0 0 0 DR H SCOTT BIERMAN 312010 0 28500 0 5300 0 24500 0 25644 0 395954 0 0 0 MR JOHN NICHOLAS 153569 0 0 0 0 0 15754 0 1128 0 170451 0 0 0 MR R JEFF PUCKETT 225943 0 0 0 600 0 23153 0 10500 0 260196 0 0 0 MS NANCY BENEDICT 137008 0 0 0 0 0 14180 0 7564 0 158752 0 0 0 MS BETH MONTIERO 133879 0 0 0 600 0 13799 0 8561 0 156839 0 0 0 MR BILL FLANAGAN 111302 0 0 0 800 0 11280 0 332 0 123714 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS SPOUSAL TRAVEL IS PAID FOR BY THE COLLEGE WHEN THE SPOUSE ASSISTS THE BELOIT COLLEGE EMPLOYEE WITH THE COLLEGE BUSINESS ACTIVITIES IN PERFORMING SPECIFIC DUTIES. THE ONLY SUCH SPOUSAL TRAVEL PAID FOR BY THE COLLEGE WAS THAT OF THE PRESIDENT'S SPOUSE. ALL EXPENDITURES MADE BY THE COLLEGE FOR TRAVEL OF THE SPOUSE WERE ATTRIBUTABLE TO SPECIFIC DUTIES IN THE FURTHERANCE OF THE MISSION OF THE COLLEGE. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE AS A CONDITION OF EMPLOYMENT, THE PRESIDENT OF BELOIT COLLEGE IS REQUIRED TO RESIDE IN THE PRESIDENT'S HOUSE. THE PRESIDENT'S HOUSE SERVES BOTH AS A PERSONAL RESIDENCE AS WELL AS A VENUE FOR THE CARRYING ON OF COLLEGE BUSINESS REGULARLY. THE COLLEGE HAS DETERMINED THAT THE VALUE OF THE USE OF THIS PERSONAL-RESIDENCE IS NOT CONSIDERED TAXABLE INCOME TO THE PRESIDENT AS PROVIDED FOR IN INTERNAL REVENUE CODE SECTION 119. HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES THE COLLEGE PAYS DUES TO A COUNTRY CLUB FOR THE PRESIDENT OF THE COLLEGE AND ITS VICE PRESIDENTS. THESE PERSONS USE THE COUNTRY CLUB SOLELY FOR COLLEGE BUSINESS AND DO NOT USE THE CLUB FOR PERSONAL ENTERTAINMENT PURPOSES. EXAMPLES OF CUSTOMARY USE OF THE COUNTRY CLUB INCLUDE BUSINESS LUNCHES, THE PRESIDENT'S INAUGURATION DINNER, AND TRUSTEE LUNCHEONS AND DINNERS FROM TIME TO TIME. PERSONAL SERVICES (E.G. MAID, CHAUFFER, CHEF) THE COLLEGE PAYS FOR HOUSEKEEPING SERVICES UP TO 5-HOURS PER DAY AT THE COLLEGE PRESIDENT'S RESIDENCE, THE PRESIDENTS' HOUSE. THE HOUSEKEEPING SERVICES ARE PAID FOR PRIMARILY IN THE INTEREST OF MAINTAINING THE COLLEGE'S FACILITIES IN PRESENTABLE CONDITION TO FACILITATE THE CARRYING ON OF COLLEGE BUSINESS AT THE RESIDENCE. PERSONAL BENEFITS TO THE COLLEGE PRESIDENT ARE INCIDENTAL TO THE PRIMARY PURPOSE OF STEWARDSHIP OF THE EXEMPT ORGANIZATION'S ASSETS. PART I, LINE 4A FORMER OFFICER, WILLIAM FLANAGAN, TRANSFERED FROM DEAN OF STUDENTS POSITION TO A DEVELOPMENT OFFICER POSITION; NO ADJUSTMENT TO PAY. FORMER EMPLOYEE, SUSAN CLEVERDON, DEVELOPMENT OFFICER, WAS PAID $51,750 IN SEVERANCE PAY (INCLUDED IN THE AMOUNT SHOWN FOR EARNINGS ON PART VII, SECTION A, LINE 1A.) WISC HEALTH & EDUCATIONAL FACILITIES AUTHORITY 391337855 97710BTF9 2010-04-28 28394743 REFINANCE OF 2007 SERIES BOND 1 1 0 WISC HEALTH & EDUCATIONAL FACILITIES AUTHORITY 391337855 97710BTF9 2010-04-28 28394743 REFINANCE OF 2007 SERIES BOND 1 1 0 28394742 26203048 400960 1790735 2010 1 0 1 1 30000000 29475000 525000 2010 1 0 1 1 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 1 1 CHASE BANK 30.000000000000 0 0 0 0 0 X X 6 0 NO VALUE ASSIGNED X 53 701316 COST OR MARKET X 2 6062 COST OR MARKET X 1 0 NO VALUE ASSIGNED X 3 0 NO VALUE ASSIGNED X COMPUTER EQUIPMENT 1 2241 OTHER 0 0 1 1 NON REPORTING OF REVENUE: PART I, LINE 33: THE COLLEGE, AS A MATTER OF ACCOUNTING POLICY, DOES NOT RECORD REVENUE FOR WORKS OF ART ADDED TO ITS COLLECTIONS, AS ALLOWED UNDER SFAS 116. FURTHERMORE, ITEMS USED AS PROPS IN THE COLLEGE'S THEATER PROGRAM AND USED BOOKS DONATED TO THE COLLEGE'S LIBRARY ARE NOT REPORTED AS REVENUE FOR FINANCIAL STATEMENT PURPOSES. FORM 990, PART I, LINE 1: THE PRIMARY AIM OF BELOIT COLLEGE IS TO PROVIDE A LEARNING AND LIVING ENVIRONMENT DEDICATED TO THE CULTIVATION OF LIBERALLY EDUCATED PERSONS. FOR MORE THAN 150 YEARS, THE COLLEGE'S GOALS HAVE REMAINED CONSTANT: TO PROVIDE STUDENTS WITH A BROAD GROUNDING IN FACT; THE EXPERIENCE OF MASTERING AN AREA OF KNOWLEDGE; THE ABILITY AND INCLINATION TO INTEGRATE, ASSIMILATE, AND EVALUATE; A CONTINUING CONCERN FOR VALUES; ENTHUSIASM FOR PERSONAL CREATIVITY; AN AESTHETIC SENSIBILITY; A GLOBAL PERSPECTIVE, AND MOST IMPORTANTLY, THE DESIRE TO CONTINUE LEARNING. RELATED TO THESE GOALS ARE SEVERAL MAJOR COMMITMENTS THAT HAVE LONG HELPED TO GUIDE THE OPERATION OF BELOIT COLLEGE: A DEDICATION TO THE PURSUIT OF EXCELLENCE; A DEDICATION TO FREE INQUIRY AND COMMITMENT AS EXEMPLIFIED BY THE COLLEGE'S OWN TRADITIONS; AN INTEGRITY OF PURPOSE AND PERFORMANCE STEADFAST AGAINST EXPEDIENCY OR EXPLOITATION; A SPIRIT OF TOLERANCE THAT WILL PERPETUATE FREEDOM, WHETHER OF WORK, WORSHIP, SPEECH, PRESS, OR ACADEMIC RESEARCH; THE CONCEPT OF GOVERNMENT BY CONSENT OF THE GOVERNED, CONSTITUTIONALLY EXPRESSED; THE IDEAL OF A PROGRESSIVE SOCIAL ORDER BASED UPON EQUAL OPPORTUNITY AND EQUAL JUSTICE UNDER THE LAW. FORM 990, PART III, LINE 1: BELOIT COLLEGE ENGAGES THE INTELLIGENCE, IMAGINATION, AND CURIOSITY OF ITS STUDENTS, EMPOWERING THEM TO LEAD FULFILLING LIVES MARKED BY HIGH ACHIEVEMENT, PERSONAL RESPONSIBILITY, AND PUBLIC CONTRIBUTION IN A DIVERSE SOCIETY. OUR EMPHASIS ON INTERNATIONAL AND INTERDISCIPLINARY PERSPECTIVES, THE INTEGRATION OF KNOWLEDGE WITH EXPERIENCE, AND CLOSE COLLABORATION AMONG PEERS, PROFESSORS, AND STAFF EQUIPS OUR STUDENTS TO APPROACH THE COMPLEX PROBLEMS OF THE WORLD ETHICALLY AND THOUGHTFULLY. FORM 990, PART VI, SECTION B, LINE 11 BELOIT COLLEGE'S FORM 990 WAS PREPARED BY AN INDEPENDENT CERTIFIED PUBLIC ACCOUNTING FIRM. A DRAFT OF THE FORM 990 WAS PROVIDED ELECTRONICALLY TO THE BOARD OF TRUSTEES AUDIT COMMITTEE FOR REVIEW AT THE APRIL AUDIT COMMITTEE MEETING. THE APRIL MEETING AGENDA INCLUDED DISCUSSION OF QUESTIONS OR CONCERNS REGARDING THE INFORMATION CONTAINED IN THE FORM 990. ONCE ALL ISSUES AND QUESTIONS REGARDING THE RETURN WERE RESOLVED, THE FORM 990 WAS FINALIZED TO INCORPORATE ANY NECESSARY CHANGES. AN UPDATED VERSION WAS PROVIDED ELECTRONICALLY TO THE CONTROLLER TO DISTRIBUTE TO THE AUDIT COMMITTEE FOR ADDITIONAL MATTERS TO BE ADDRESSED AND RESOLVED. THE FINALIZED VERSION OF FORM 990 WAS FILED WITH THE IRS ON OR BEFORE APRIL 15TH FILING DEADLINE. TO RESPECT THE WISHES OF CERTAIN DONORS TO REMAIN ANONYMOUS, WE HAVE CHOSEN NOT TO PROVIDE A FULL DISCLOSURE COPY OF THE 990 TO THE FULL GOVERNING BOARD OF BELOIT COLLEGE. A FULL DISCLOSURE COPY, WITH ALL DONOR INFORMATION, WILL BE FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES AND OFFICERS ARE REQUIRED TO COMPLETE CONFLICT OF INTEREST DOCUMENTS ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE COLLEGE PARTICIPATES ANNUALLY IN AN OFFICER COMPENSATION SURVEY CONDUCTED BY THE WISCONSIN ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES (WAICU), AS WELL AS AN ANNUAL ADMINISTRATIVE SALARY SURVEY CONDUCTED BY THE ASSOCIATED COLLEGES OF THE MIDWEST (ACM). IN 2011, INDEPENDENT COMPARABILITY DATA FROM THE WAICU AND ACM SALARY SURVEYS WERE UTILIZED AS PART OF THE PROCESS UNDERTAKEN TO DETERMINE THE TOTAL COMPENSATION OF THE COLLEGE PRESIDENT AND ITS ACADEMIC DEAN. FORM 990, PART VI, SECTION C, LINE 19 AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE COLLEGE'S WEB SITE. OTHER DOCUMENTS MAY BE MADE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -4,177,529. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -376,100. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUSTS -232,094. TOTAL TO FORM 990, PART XI, LINE 5: -4,785,723.