2013-05-13T08:26:25-05:00 2012-06-30 381357951 PLANTE & MORAN PLLC 2601 CAMBRIDGE CT SUITE 500 AUBURN HILLS MI 48326 990 2011-07-01 382015048 CRANBROOK EDUCATIONAL COMMUNITY CRAN 2486453000 PO BOX 801 BLOOMFIELD HILLS MI 483030801 DOMINIC DIMARCO 2486453000 2013-05-09 1 LYNNE HUISMANN P00053811 2483757100 2011 2016-02-24 21:20:13Z DOMINIC DIMARCO PO BOX 801 BLOOMFIELD HILLS MI 483030801 136498386 0 X WWW.CRANBROOK.EDU X 1973 MI CRANBROOK PROVIDES EXCELLENT EDUCATIONAL PROGRAMS SERVING DIVERSE AUDIENCES IN AN ENVIRONMENT THAT INSPIRES CREATIVITY, EXPERIMENTATION AND LEARNING. 31 30 1106 181 0 0 12130387 7719156 49058987 44515929 10206393 6034255 1981343 3060223 73377110 61329563 8481843 1352900 0 0 38863220 39382194 0 0 1446552 25213545 40458266 72558608 81193360 818502 -19863797 443698413 427254830 117278824 127455702 326419589 299799128 X CRANBROOK PROVIDES EXCELLENT EDUCATIONAL PROGRAMS SERVING DIVERSE AUDIENCES IN AN ENVIRONMENT THAT INSPIRES CREATIVITY, EXPERIMENTATION AND LEARNING. 0 0 44412208 1114900 39489377 CRANBROOK SCHOOLS IS AN EDUCATIONAL INSTITUTION WITH FALL 2011 ENROLLMENT OF 1,655 STUDENTS IN PRE K-12TH GRADE. INCLUDED IN THE COST OF OPERATION ARE DORMITORIES, DINING HALLS AND SUMMER PROGRAMS. 7728789 238000 3875075 CRANBROOK ACADEMY OF ART IS A GRADUATE SCHOOL OF FINE ARTS AND ARCHITECTURE WITH FALL 2011 ENROLLMENT OF 155 STUDENTS. CRANBROOK ART MUSEUM IS A CONTEMPORARY ART MUSEUM OFFERING CHANGING EXHIBITIONS AND PROGRAMMING. 3836642 0 1151477 CRANBROOK INSTITUTE OF SCIENCE IS A NATURAL SCIENCE MUSEUM OPEN TO THE PUBLIC WHICH HAD APPROXIMATELY 165,675 VISITORS IN FISCAL YEAR 2011/2012. 5453721 0 0 CRANBROOK HOUSE AND GARDENS AUXILIARY - FUNDS ARE RAISED AND EXPENDED FOR THE PRESERVATION OF CRANBROOK HOUSE AND GARDENS, A NATIONAL HISTORIC LANDMARK, AS WELL AS TOURS AND EDUCATIONAL PROGRAMS. HOLDINGS IN THE CRANBROOK ARCHIVES INCLUDE ARCHITECTURAL RECORD, PHOTOGRAPHIC IMAGES, AUDIO-VISUAL MATERIALS, ORAL HISTORIES AND PUBLICATIONS RELEVANT TO ALL ASPECTS OF CRANBROOK'S RICH HISTORY. 5453721 61431360 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 0 0 0 1 169 1 1 1106 1 1 1 0 0 0 0 1 1 0 0 0 0 X 31 30 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X PAM RUTHVENCFO 2486453110 PO BOX 801 BLOOMFIELD HILLS MI 483030801 ADELE ACHESON 1.00 X 0 0 0 MICHAEL H ACHESON 1.00 X 0 0 0 FREDERICK BLACKMON 1.00 X 0 0 0 JONATHAN BORENSTEIN 1.00 X 0 0 0 LYNDA CHARFOOS 1.00 X 0 0 0 DENISE A DAVID 1.00 X 0 0 0 JOHN M ERB 1.00 X 0 0 0 JAMISON FALISKI 1.00 X 0 0 0 VIRGINIA B FOX 1.00 X 0 0 0 MAXINE FRANKEL 1.00 X 0 0 0 ERICA WARD GERSON 1.00 X 0 0 0 LINDA H GILLUM 1.00 X 0 0 0 WILLIAM KM GOLDSMITH 1.00 X 0 0 0 RALPH A GRAHAM 1.00 X 0 0 0 EDWARD HAGENLOCKER 1.00 X 0 0 0 JEFFREY A HARRIS 1.00 X 0 0 0 ARNOLD JACOB 1.00 X 0 0 0 LISA PAYNE 1.00 X 0 0 0 BRUCE D PETERSON 1.00 X 0 0 0 STEPHEN R POLK 1.00 X 0 0 0 LLOYD E REUSS 1.00 X 0 0 0 WARREN ROSE 1.00 X 0 0 0 ALLAN ROTHFEDER 1.00 X 0 0 0 ROBERT S TAUBMAN 1.00 X 0 0 0 JAMES J VLASIC 8.00 X 0 0 0 RICHARD E WARREN 1.00 X 0 0 0 GARY L WASSERMAN 1.00 X 0 0 0 TOD WILLIAMS 1.00 X 0 0 0 MARK REUSS 1.00 X 0 0 0 BROCK R LANDRY 1.00 X 0 0 0 SUSAN D FEITEN 1.00 X 0 0 0 FREDERICK NAHM 55.00 X 400981 0 34003 PATRICIA CARI 55.00 X 87427 0 8986 DOMINIC DIMARCO 55.00 X 289546 0 14827 ARLYCE SEIBERT 55.00 X 296975 0 33872 REED KROLOFF 55.00 X 215557 0 25305 MICHAEL STAFFORD 55.00 X 169011 0 23814 PAMELA RUTHVEN 55.00 X 192852 0 11378 MARSHA GILMAN 55.00 X 148765 0 12580 ANDREW MILLER III 55.00 X 143298 0 25828 BRIAN SCHILLER 55.00 X 136400 0 18332 NORMA EVANS 55.00 X 128309 0 21276 2209121 0 230201 25 0 1 0 CHARTWELLS PO BOX 91337 CHICAGO IL 60693 FOOD SERVICE 3769919 GOLDMAN SACHS & CO 85 BROAD STREET NEW YORK NY 10087 INVESTMENT SERVICES 3744759 TEACHER'S INS AND ANNUITY PO BOX 8500 PHILADELPHIA PA 19178 PENSION 2718324 ASPHALT SPECIALISTS INC 1780 E HIGHWOOD PONTIAC MI 48340 BUILDING CONTRACTOR 846021 GREAT-WEST TRUST DEPT 1148 DENVER CO 80256 PENSION SERVICES 734138 15 803665 564895 6350596 1193477 7719156 CRANBROOK SCHOOLS K-12 900099 38103125 38103125 ART ACADEMY TUITION 900099 3875075 3875075 SUMMER PROGRAMS 900099 1386252 1386252 INSTITUTE OF SCIENCE 611600 1151477 1151477 44515929 288836 288836 1134301 1204212 -69911 -69911 -69911 77650730 493590 71983403 415498 5667327 78092 5745419 5745419 1477148 803665 1236714 240434 240434 50824 18786 32038 32038 606168 310210 295958 295958 SALE OF BOOKS 900099 1000000 1000000 FINANCE CHARGES 900099 351643 351643 AUXILIARY 900099 55027 55027 1155034 1155034 2561704 61329563 44515929 0 9094478 1352900 1352900 1618052 764534 853518 28168041 21137895 5938049 1092097 1704556 1254977 381467 68112 5755052 4932870 639064 183118 2136493 1587539 465642 83312 6801 12005 -5204 197503 197503 12733 12733 2057391 1026745 939250 91396 734632 435320 14388 284924 3203358 2028189 1028408 146761 303859 72085 228024 3750 5222056 3550392 1670696 968 795507 693704 37404 64399 237066 226138 7229 3699 15066664 15066664 7933430 7933430 676020 5405 670331 284 FOOD SERVICE SCHOOLS 3757713 3706547 42174 8992 MEMBERSHIP DUES 128030 118442 5853 3735 DONATION/AWARD/MEMORIAL 83710 70695 13015 ALLOCATION OF SERVICES 0 10328300 -10131971 -196329 41793 193248 241211 -392666 81193360 61431360 18315448 1446552 40446 32012 2329191 9544960 12237598 9063880 2615168 1840747 785390 596253 1592865 1426586 285562428 97660801 192270347 187901627 124583412 112522375 105667875 103131390 1576121 1195000 443698413 427254830 15781999 26096245 15470148 15601607 85330000 85330000 696677 427850 117278824 127455702 X 231896876 210071394 40394873 35284384 54127840 54443350 326419589 299799128 443698413 427254830 X -19863797 -6756664 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 1 215775390 2915474 62672 11284633 -440319 207909222 181178000 9692086 32183200 7133290 144606 215775390 168388552 2095228 20073157 10051800 -672863 181178000 236966944 5676615 -54883285 15322603 4049119 168388552 0.64000 0.25000 0.11000 0 0 7869942 7869942 80142454 32809266 47333188 175357703 45868808 129488895 17505674 15615504 1890170 4686655 3367223 1319432 187901627 WEATHERLOW HEDGE FUNDS 19553592 F DILLON 11115801 F ELLIOTT 8521891 F CF CAPITAL INTERNATIONAL PARTNERS V 4522024 F ETON PARK 4686849 F CF GLOBAL DISTRESSED DEBT 3405205 F RCP FUND II 3439339 F RCP FUND III 4098204 F CHARLES BANK VII 405775 F CAPITAL DYNAMICS V (FOREIGN) 535107 F COMMONFUND ENDOWMENT ENERGY PARTNERS III 648878 F RCP GRADUATE FUND 1177486 F CAPITAL DYNAMICS VI (US) 1119334 F COMMONFUND ENDOWMENT INTERNATIONAL PARTNERS 581066 F COMMONFUND NATURAL RESOURCES PARTNERS VIII 1319815 F CAPITAL DYNAMICS GLOBAL REAL ESTATE 1299356 F COMMONFUND ENDOWMENT PRIVATE EQUITY PARTNERS III 771249 F COMMONFUND DISTRESSED DEBT 1031338 F COMMONFUND INTERNATIONAL PRIVATE EQUITY PARTNERS VI 1884488 F CAPITAL DYNAMICS V 2001369 F CAPITAL DYNAMICS VI (INTERNATIONAL) 1650260 F PINNACLE NATURAL RESOURCES 3032336 F COMMONFUND CAPITAL INTERNATIONAL PARTNERS IV 1394352 F CHARLES BANK VI 2601033 F PAUL CAPITAL 2327412 F COMMONFUND EQUITY PARTNERS I, II, IV, V 2552213 F CAYMAN III 3510166 F CORSAIR III 3541990 F COMMONFUND ENDOWMENT ENERGY PARTNERS IV 3703776 F COMMONFUND ENDOWMENT VENTURE PARTNERS 1-1V, VII, VIII, IX 4080102 F OZ OVERSEAS 2052026 F DAG VENTURES 567558 F 103131390 CAPITAL LEASES PAYABLE - CURRENT 269070 CAPITAL LEASES PAYABLE 158780 427850 61329563 81193360 -19863797 -6001170 -755494 -6756664 -26620461 57342821 -6001170 2769922 -3231248 60574069 755494 755494 61329563 83963282 2769922 2769922 81193360 0 81193360 PART III, LINE 1A: IN ACCORDANCE WITH GENERALLY ACCEPTED PRACTICES OF SIMILAR INSTITUTIONS, ARCHIVAL ITEMS AND COLLECTIONS PURCHASED AND DONATED ARE NOT RECORDED IN THE STATEMENT OF FINANCIAL POSITION. PART III, LINE 4: AS THE COMMUNITY'S OFFICIAL ARCHIVAL REPOSITORY, THE ARCHIVES DEPARTMENT COLLECTS, PRESERVES, AND MAKES AVAILABLE COMMUNITY AND DIVISIONAL RECORDS OF PERMANENT VALUE, THE PAPERS OF MEMBERS OF THE BOOTH, SCRIPPS, AND SAARINEN FAMILIES, THE RECORDS OF THE CHRIST CHURCH CRANBROOK AND OTHER ANCILLARY ORGANIZATIONS, AND THE PERSONAL PAPERS OF FACULTY, STAFF, ALUMNI AND OTHER INDIVIDUALS WHO HAVE BEEN ASSOCIATED WITH THE COMMUNITY SINCE 1904. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY CEC AND HAS CONCLUDED THAT AS OF JUNE 30, 2012 AND 2011, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. CEC IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE CURRENTLY ARE NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES CEC IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2008. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 1,204,212. DIRECT EXPENSES - FUNDRAISING 1,236,714. DIRECT EXPENSES - GAMING 18,786. COST OF SALES 310,210. PART XIII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 1,204,212. DIRECT EXPENSES - FUNDRAISING 1,236,714. DIRECT EXPENSES - GAMING 18,786. COST OF SALES 310,210. 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 POLICY IS PRINTED ON ALL ADMISSION MATERIAL AND ALSO PRINTED ON OUR ADVERTISEMENT EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 CRANBROOK RECEIVES GRANTS FROM FEDERAL AND STATE GOVERNMENTAL AGENCIES. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENT 3541990 0 0 0 0 0 0 3541990 0 3541990 1 0 0 0 1 0 KALEIDOSCOPE 713955 412283 301672 56985 94436 37489 67949 SCRIP 722098 722098 652058 14 844760 391382 453378 56646 115757 16097 139297 2280813 803665 1477148 113631 210193 53586 859304 1236714 240434 50824 18200 586 1 0.75000 50824 18200 586 18786 32038 MI 1 0 1 0 1.00000 RITA STEDMAN PO BOX 801 BLOOMFIELD HILLS MI 483030801 0 RITA STEDMAN 0 RECORDKEEPING X 0 1 FINANCIAL AID NEED BASED - SCHOOLS 416 1114900 MERIT-BASED INSTITUTIONAL - CAA 32 152500 FINANCIAL AID NEED BASED - CAA 118 85500 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: TO RECEIVE GRANTS AND OTHER ASSISTANCE FROM CRANBROOK EDUCATIONAL COMMUNITY ALL CANDIDATES MUST DEMONSTRATE FINANCIAL NEED TO THE FINANCIAL AID COMMITTEE BASED ON AN ANALYSIS OF THE REQUIRED DOCUMENTATION. THE REQUIRED DOCUMENTATION IS (1) PARENTS' FINANCIAL STATEMENT (PFS) COMPLETED THROUGH WWW.NAIS.ORG, (2) INCOME VERIFICATION BY CURRENT W-2'S, END OF YEAR PAY STUBS, EMPLOYER LETTER VERIFYING INCOME, (3) SIGNED COPY OF IRS FORM 4506, (4) SIGNED COPY OF CURRENT YEAR FEDERAL TAX RETURN INCLUDING ALL SCHEDULES, (5) FINANCIAL AID APPLICATION SUBMITTED TO THE SCHOOL. AID PACKAGES ARE REVIEWED ANNUALLY ON THE BASIS OF THE FAMILY'S CURRENT FINANCIAL STATUS. AID AT CRANBROOK SCHOOLS IS DISTRIBUTED WITHOUT REGARD TO RACE, RELIGION OR ETHNIC BACKGROUND. ALL RECIPIENTS ARE EXPECTED TO DEMONSTRATE DILIGENCE IN THEIR ACADEMIC SUBJECTS, MAINTAIN ACCEPTABLE CITIZENSHIP STANDARDS, AND CONTRIBUTE POSITIVELY TO THE SCHOOL COMMUNITY. REQUIRED DOCUMENTATION FOR CRANBROOK ART ACADEMY IS A TIMELY FILED FAFSA THROUGH THE GOVERNMENT, AFTER COMPLETION A SAR IS RECEIVED ELECTRONICALLY AT THE SCHOOL. ALSO, A COPY OF A SIGNED FEDERAL TAX RETURN IS REQUIRED. ASSISTANCE IS BASED UPON THE APPLICANT'S TIMELY APPLICATION AND DEMONSTRATED FINANCIAL NEED. ALL ASSISTANCE IS DETERMINED THROUGH THE REGISTER'S OFFICE AT THE ART ACADEMY. X 1 1 X X X 0 0 0 0 0 0 0 0 0 FREDERICK NAHM 352981 0 0 0 48000 0 19757 0 14246 0 434984 0 0 0 DOMINIC DIMARCO 289546 0 0 0 0 0 12600 0 2227 0 304373 0 0 0 ARLYCE SEIBERT 296975 0 0 0 0 0 19626 0 14246 0 330847 0 0 0 REED KROLOFF 215557 0 0 0 0 0 17388 0 7917 0 240862 0 0 0 MICHAEL STAFFORD 169011 0 0 0 0 0 6919 0 16895 0 192825 0 0 0 PAMELA RUTHVEN 192852 0 0 0 0 0 9600 0 1778 0 204230 0 0 0 MARSHA GILMAN 148765 0 0 0 0 0 11433 0 1147 0 161345 0 0 0 ANDREW MILLER III 143298 0 0 0 0 0 9534 0 16294 0 169126 0 0 0 BRIAN SCHILLER 136400 0 0 0 0 0 11253 0 7079 0 154732 0 0 0 PART I, LINE 1A THE PRESIDENT RECEIVES A HOUSING ALLOWANCE AS HE IS REQUIRED TO LIVE IN THE CITY OF BLOOMFIELD HILLS. THE DIRECTOR OF THE ART ACADEMY AND THE DIRECTOR OF SCHOOLS ARE PROVIDED A HOUSE ON CAMPUS AS RESIDENCY IS A REQUIREMENT OF THEIR POSITIONS. THE PRESIDENT'S HOUSING ALLOWANCE IS APPROPRIATELY INCLUDED IN HIS FORM W-2. ECONOMIC DEVELOPMENT CORP OF OAKLAND COUNTY 383442443 672523GN1 2009-10-05 18599313 SEE SCHEDULE O 0 0 0 ECONOMIC DEVELOPMENT CORP OF OAKLAND COUNTY 383442443 672523GD3 2007-11-01 46390000 SEE SCHEDULE O 0 0 0 ECONOMIC DEVELOPMENT CORP OF OAKLAND COUNTY 383442443 2010-10-01 26515000 SEE SCHEDULE O 0 0 0 18599313 370346 18228967 2009 0 1 1 1 46390000 970649 436000 38780184 2009 0 1 1 1 26515000 101443 199000 24898557 1316000 2011 0 1 1 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0 0 0 1 1 GOLDMAN SACHS MITS 30.000000000000 0 0 1 ROYAL BANK OF CANADA 12.000000000000 1 0 0 0 1 1 GOLDMAN SACHS MITS 30.000000000000 0 0 0 0 0 X DTE ENERGY BRUCE PETERSON, TRUSTEE, IS AN OFFICER OF DTE ENERGY 1052427 ELECTRIC SERVICE 0 X 3495 COST X 40 921596 AVG MARKET VALUATION X AUCTION ITEMS 172 206403 COST X GIFT CARDS 478 17673 COST X FURNITURE 3 7145 COST X MUSICAL INSTRUMENT 3 1600 APPRAISAL 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 ADELE ACHESON AND MICHAEL ACHESON, BOTH TRUSTEES OF THE ORGANIZATION, HAVE A FAMILY RELATIONSHIP WITH ONE ANOTHER. ROBERT TAUBMAN, DENISE DAVID AND LISA PAYNE, ALL TRUSTEES OF THE ORGANIZATION, HAVE A BUSINESS RELATIONSHIP WITH ONE ANOTHER. LLOYD REUSS AND MARK REUSS, BOTH TRUSTEES OF THE ORGANIZATION, HAVE A FAMILY RELATIONSHIP WITH ONE ANOTHER. FORM 990, PART VI, SECTION A, LINE 6 CRANBROOK EDUCATIONAL COMMUNITY HAS THREE DIVISIONS OF THE ORGANIZATION, CRANBROOK SCHOOLS, CRANBROOK ART ACADEMY AND CRANBROOK INSTITUTE OF SCIENCE, WHICH EACH HAVE A BOARD OF GOVERNORS. THESE BOARD OF GOVERNORS ARE THE MEMBERS OF THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7A UP TO SIX TRUSTEES OF CRANBROOK EDUCATIONAL COMMUNITY SHALL BE ELECTED BY THE CRANBROOK SCHOOLS MEMBERS, UP TO FOUR TRUSTEES SHALL BE ELECTED BY THE CRANBROOK ART MEMBERS AND UP TO FOUR TRUSTEES SHALL BE ELECTED BY THE CRANBROOK SCIENCE MEMBERS, NONE OF WHICH TRUSTEES NEED TO BE MEMBERS OF THE ORGANIZATION OR ITS THREE DIVISIONS. THE CHAIRMAN OF THE BOARD OF GOVERNORS OF CRANBROOK SCHOOLS, THE CHAIRMAN OF THE BOARD OF GOVERNORS OF THE CRANBROOK ART ACADEMY, AND THE CHAIRMAN OF THE BOARD OF GOVERNORS OF THE CRANBROOK INSTITUTE OF SCIENCE, AS ELECTED BY THE RESPECTIVE BOARDS OF GOVERNORS FROM TIME TO TIME PURSUANT TO THE ORGANIZATION'S BYLAWS, SHALL ALL BE EX OFFICIO MEMBERS OF THE BOARD OF TRUSTEES WITH FULL VOTING AND OTHER RIGHTS, FOR SO LONG AS EACH OF THEM REMAINS CHAIRMAN, AND SHALL THEREAFTER BE REPLACED AS TRUSTEES BY THEIR SUCCESSORS IN SUCH CHAIRMANSHIP POSITIONS. FORM 990, PART VI, SECTION B, LINE 11 THE INITIAL REVIEW OF THE 990 IS DONE BY THE CHIEF FINANCIAL OFFICER, THE CHIEF OPERATING OFFICER AND THE PRESIDENT AND THE INDEPENDENT AUDITORS. THE 990 IS REVIEWED BY THE CHAIR OF THE BOARD OF TRUSTEES AND A MEMBER OF THE AUDIT COMMITTEE. PRIOR TO FILING, THE 990 IS MADE AVAILABLE TO ALL MEMBERS OF THE BOARD OF TRUSTEES FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C A FORMAL WRITTEN CONFLICT OF INTEREST POLICY IS SENT OUT ANNUALLY TO OFFICERS, DIRECTORS/TRUSTEES AND KEY EMPLOYEES FOR THEIR COMPLETION, AND MUST BE SIGNED AND RETURNED TO CRANBROOK EDUCATIONAL COMMUNITY. FORM 990, PART VI, SECTION B, LINE 15 THE CHAIR OF THE BOARD OF TRUSTEES, IN CONJUNCTION WITH OTHER TRUSTEES, DETERMINES SALARIES USING INFORMATION PREPARED BY THE HUMAN RESOURCE DEPARTMENT FOR COMPARABLE SALARIES WITH PEER INSTITUTIONS. FORM 990, PART VI, SECTION C, LINE 19 THE FOLLOWING DOCUMENTS ARE AVAILABLE UPON REQUEST: AUDITED CONSOLIDATED FINANCIAL STATEMENTS AND CRANBROOK LEADERSHIP HANDBOOK. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -6,001,170. INVESTMENT EXPENSES: -755,494. TOTAL TO FORM 990, PART XI, LINE 5: -6,756,664. FORM 990, PART XI, LINE 2C: THE ORGANIZATION'S AUDIT COMMITTEE OVERSEES THE AUDIT. THIS PROCESS HAS NOT CHANGED FROM THE PREVIOUS YEAR. SCHEDULE K, PART I, LINE A, COLUMN F: $18,599,313 ($18,425,000 PRINCIPAL) SERIES 2009 VARIABLE RATE BONDS WERE ISSUED TO BENEFIT CRANBROOK EDUCATIONAL COMMUNITY, AND TO PAY THE COSTS OF ISSUING THE BONDS. THE $46,390,000 SERIES 2007 VARIABLE RATE BONDS WERE RESTRUCTURED IN 2009 VIA THE ISSUANCE OF SERIES 2009 VARIABLE RATE BONDS WHICH ARE SUPPORTED BY A JP MORGAN CHASE BANK LETTER OF CREDIT. PROCEEDS FROM THE ORIGINAL 2007 ISSUE WERE USED TO REFUND THE SERIES 1997A AND 2001 BONDS, PAY ISSUANCE COSTS, AND TO COMPLETE CERTAIN CAPITAL PROJECTS (BOYS MIDDLE SCHOOL CONSTRUCTION, KINGSWOOD ROOF, IT INFRASTRUCTURE, ETC.) THE $26,515,000 SERIES 2010 VARIABLE RATE BONDS WERE ISSUED TO FINANCE CAPITAL IMPROVEMENT PROJECTS AND TO PAY ISSUANCE COSTS. THE BONDS WERE SOLD IN A PRIVATE PLACEMENT AS BANK QUALIFIED BONDS (AS DESCRIBED IN SECTION 265(B)(3)(B) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED). ELLEN F PRICE CHARITABLE REMAINDER UNITRUST DTD 101207 C/O JACKIER GOULD 121 W LONG LAKE S BLOOMFIELD HILLS MI 48304 CHARITABLE REMAINDER TRUST MI N/A T 342093 0.52760 MADELINE M SLOAN CHARITABLE REMAINDER UNITRUST UDA 091297 C/O NORTHERN TRUST 10 W LONG LAKE BLOOMFIELD HILLS MI 48304 383372675 CHARITABLE REMAINDER TRUST MI N/A T 155149 0.76700 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0