2013-05-14T10:52:52-05:00 2012-06-30 410746749 CLIFTONLARSONALLEN LLP 220 SOUTH SIXTH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2011-07-01 410693856 DUNWOODY COLLEGE OF TECHNOLOGY DUNW 6123745800 818 DUNWOODY BOULEVARD MINNEAPOLIS MN 55403 RICHARD WAGNER 6123745800 2013-05-10 1 XIAOYAN LUO P01305207 6123764500 2011 2016-02-24 21:20:13Z RICHARD WAGNER 818 DUNWOODY BOULEVARD MINNEAPOLIS MN 55403 38296295 0 X WWW.DUNWOODY.EDU X 1914 MN PROVIDE TECHNICAL TRAINING IN INDUSTRIAL FIELDS IN DAY AND EVENING CLASSES IN MINNEAPOLIS, MN. 25 23 387 600 0 0 3258407 2763383 21023877 17923054 1364726 -1270480 0 0 25647010 19415957 1014310 1376379 0 0 14821828 14355355 63744 0 966650 9806927 7764198 25706809 23495932 -59799 -4079975 40712987 39894152 16205951 18464690 24507036 21429462 X DUNWOODY COLLEGE OF TECHNOLOGY'S MISSION IS: "AS A PRIVATE NON-PROFIT TECHNICAL COLLEGE: DUNWOODY CHANGES LIVES BY BUILDING OPPORTUNITIES FOR GRADUATES TO HAVE SUCCESSFUL CAREERS, TO DEVELOP INTO LEADERS AND ENTREPRENEURS, AND TO ENGAGE IN "THE BETTER PERFORMANCE OF LIFE'S DUTIES." QUOTE IS FROM THE LAST WILL AND TESTAMENT OF WILLIAM HOOD DUNWOODY. DUNWOODY WAS ENDOWED BY WILLIAM HOOD AND KATE DUNWOODY IN 1914 AS A TECHNICAL EDUCATION INSTITUTION DEDICATED TO TRAINING YOUNG PEOPLE IN A TRADE OR OCCUPATION WHICH WOULD PROVIDE A CAREER PATH AND SOURCE OF INCOME. TO THIS DAY DUNWOODY IS DEDICATED TO HANDS ON, APPLIED TECHNICAL EDUCATION. BEYOND THAT THOUGH, DUNWOODY IS FOCUSED ON DEVELOPING GRADUATES WHO ARE "WORTH MORE." THE CONCEPT OF "WORTH MORE" MEANS THAT GRADUATES EXCEL IN THEIR CHOSEN PROFESSION AS WELL AS FUNCTION AS LEADERS IN THEIR PROFESSION AND IN THEIR COMMUNITY. 0 0 16802223 1376379 17923054 FOUNDED IN 1914, DUNWOODY COLLEGE OF TECHNOLOGY IS A PRIVATE, NON-PROFIT, ENDOWED INSTITUTION OF HIGHER EDUCATION. IT IS THE OLDEST INSTITUTION OF ITS KIND IN THE UPPER MIDWEST, WITH AN INTERNATIONAL REPUTATION FOR OUTSTANDING EDUCATIONAL PROGRAMS. THE PROMINENT MINNEAPOLIS BUSINESSMAN, WILLIAM HOOD DUNWOODY, LEFT NEARLY THREE MILLION DOLLARS IN HIS WILL TO ESTABLISH DUNWOODY COLLEGE OF TECHNOLOGY. HIS PURPOSE WAS TO "PROVIDE FOR ALL TIME A PLACE WHERE YOUTH WITHOUT DISTINCTION, ON ACCOUNT OF RACE, COLOR, OR RELIGIOUS PREJUDICE, MAY LEARN THE USEFUL TRADES AND CRAFTS, THEREBY FIT THEMSELVES FOR THE BETTER PERFORMANCE OF LIFE'S DUTIES." DUNWOODY WAS NATIONALLY RECOGNIZED IN 1991 AS ONE OF TEN "INSTITUTIONS OF EXCELLENCE" BY THE NATIONAL CENTER OF RESEARCH IN VOCATIONAL EDUCATION IN BERKELEY, CALIFORNIA. DUNWOODY IS ACCREDITED THROUGH THE HIGHER LEARNING COMMISSION OF THE NORTH CENTRAL ASSOCIATION OF SCHOOLS & COLLEGES WHICH PROVIDES PUBLIC ASSURANCE OF EDUCATIONAL QUALITY AND INSTITUTIONAL INTEGRITY. DUNWOODY'S SUCCESS CAN BE SEEN IN ITS OUTSTANDING ALUMNI, THE CONSISTENTLY HIGH RATE OF PLACEMENT OF ITS GRADUATES, ENROLLMENT OF MORE THAN A QUARTER MILLION STUDENTS IN ITS NEARLY 100 YEARS OF OPERATION AND THE EXTENSIVE NUMBER OF SPECIAL TRAINING PROGRAMS IT PROVIDES FOR INDUSTRY AND LABOR. DUNWOODY IS A TECHNICAL COLLEGE TEACHING MEN AND WOMEN THROUGH HANDS-ON LEARNING. DUNWOODY OFFERS AN INTENSE, STRUCTURED APPROACH TO EDUCATION THAT FACILITATES INDIVIDUAL LEARNING AND DEVELOPMENT. PROGRAMS ARE JOB-ORIENTED AND THE LEARNING ENVIRONMENT FOSTERS THE QUALITIES EMPLOYERS SEEK: PRODUCTIVITY, SELF-DISCIPLINE, CONFIDENCE, TEAMWORK, A POSITIVE ATTITUDE TOWARD PRODUCTIVITY, AND AN APPRECIATION FOR A JOB WELL DONE. THE INTEGRATION OF THE ARTS AND SCIENCES IS A KEY COMPONENT OF EACH PROGRAM. DUNWOODY IS COMMITTED TO EXCELLENCE IN EDUCATION AND BELIEVES SKILL AND TECHNICAL COMPETENCE MUST BE BALANCED WITH A BROAD ACADEMIC EDUCATION TO ENHANCE EACH GRADUATE'S SUCCESS AND FACILITATE LIFE-LONG LEARNING. LIFE-LONG LEARNING SKILLS THAT GO BEYOND THE TECHNICAL ASPECTS OF AN OCCUPATION ARE LEARNED IN COURSE WORK THAT IMPARTS THE KNOWLEDGE, CONCEPTS, AND ATTITUDES NEEDED TO LIVE IN A DIVERSE SOCIETY. DUNWOODY HAS A CLOSE RELATIONSHIP WITH INDUSTRY AND HAS DEVELOPED PROGRAM ADVISORY COMMITTEES (PACS) FOR EACH PROGRAM. THE PROGRAM PAC APPROVES OBJECTIVES FOR EACH PROGRAM TO ENSURE THAT THE PROGRAM IS PROVIDING WHAT INDUSTRY WANTS AND NEEDS IN THEIR FUTURE EMPLOYEES SO THAT GRADUATE EMPLOYMENT IN ASSURED AND PROGRAMS STAY CURRENT AND RELEVANT. THE VISION OF DUNWOODY COLLEGE OF TECHNOLOGY IS "EMERGING AS MINNESOTA'S ONLY POLYTECHNIC COLLEGE: DUNWOODY IS THE FIRST CHOICE IN TECHNICAL EDUCATION - FIRST CHOICE FOR STUDENT, FIRST CHOICE FOR EMPLOYERS, AND A GREAT PLACE TO WORK." CONSISTENT WITH THIS VISION, DUNWOODY NOW OFFERS FOUR BACCALAUREATE DEGREES WHICH INCLUDE THREE BACCALAUREATE PROGRESSION DEGREES. THESE 2+2 DEGREE OPTIONS ENABLE ASSOCIATE OF APPLIED SCIENCE DEGREE GRADUATES THE OPPORTUNITY TO ADVANCE THEIR EDUCATION TO THE BACCALAUREATE OF SCIENCE DEGREE LEVEL. BACHELOR OF SCIENCE PROGRAMS INCLUDE APPLIED MANAGEMENT, INTERIOR DESIGN, INDUSTRIAL ENGINEERING TECHNOLOGY, AND CONSTRUCTION LEADERSHIP & MANAGEMENT. INSTRUCTION AT DUNWOODY IS STRUCTURED ON AN 18 WEEK SEMESTER. AN ACADEMIC YEAR INCLUDES TWO 18 WEEK SEMESTERS WITH A NINE WEEK SUMMER SESSION. PROGRAMS OF INSTRUCTION MAY LEAD TO A CERTIFICATE, ASSOCIATE OF APPLIED SCIENCE (A.A.S.) DEGREE, OR A BACHELOR OF SCIENCE (B.S.) DEGREE. IT IS DUNWOODY'S GOAL THAT GRADUATING STUDENTS WILL BECOME RESPONSIBLE, CONTRIBUTING CITIZENS, AS WELL AS ABLE TECHNICIANS AND LEADERS IN THEIR PROFESSIONS. THE COLLEGE CURRENTLY OFFERS LEARNING OPPORTUNITIES IN THE FOLLOWING AREAS:AUTOMATED SYSTEMS AND ROBOTICSARCHITECTURAL DRAFTING AND ESTIMATINGAUTOMOTIVE COLLISION REPAIR AND REFINISHINGAUTOMOTIVE COLLISION APPRENTICESHIPAUTOMOTIVE COLLISIONAUTOMOTIVE SERVICE TECHNOLOGYAUTOMOTIVE SERVICECOMPUTER NETWORKING SYSTEMSCONSTRUCTION PROJECT SUPERVISIONELECTRICAL CONSTRUCTION DESIGNELECTRICAL CONSTRUCTION AND MAINTENANCEELECTRONICS TECHNOLOGYENGINEERING, DRAFTING, AND DESIGNGRAPHICS AND PRINTING TECHNOLOGIESHEATING AND COOLING SYSTEMSHVAC DESIGNHVAC SYSTEMS SERVICINGINFORMATION TECHNOLOGYINTERIOR DESIGNMACHINING TECHNOLOGYWELDINGTHROUGH THESE OFFERINGS, IN CONJUNCTION WITH THE EFFORT AND ENTHUSIASM OF THE COLLEGE STAFF AND FACULTY, DUNWOODY ACHIEVES ITS MISSION AND WORKS TOWARD ACCOMPLISHING ITS VISION. 16802223 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 1 62 0 387 1 0 0 0 0 0 0 0 0 0 0 0 X 25 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 0 0 MN X X CAMI KARNOWSKI 6123745800 818 DUNWOODY BOULEVARD MINNEAPOLIS MN 55403 RICHARD WAGNER PHD 40.00 X X 180674 0 520 MAURICE J WAGENER 1.00 X X 0 0 0 THEODORE A FERRARA 1.00 X X 0 0 0 JAMES R FOX 1.00 X X 0 0 0 CHARLIE WESTLING 1.00 X X 0 0 0 RUSSEL BECKER 1.00 X 0 0 0 ROBERT W CARLSON JR 1.00 X 0 0 0 RICK D CLEVETTE 1.00 X 0 0 0 RICHARD A COPELAND 1.00 X 0 0 0 PAUL I COSSETTE 1.00 X 0 0 0 DAVID P CROSBY 1.00 X 0 0 0 JOEL A ELFTMAN 1.00 X 0 0 0 BRUCE W ENGELSMA 1.00 X 0 0 0 MARK G FLEISCHHACKER 1.00 X 0 0 0 MICHAEL HANSON 1.00 X 0 0 0 TAMARA HJELLE OLSON 1.00 X 0 0 0 BARBARA JERICH 1.00 X 0 0 0 RICHARD J JUELICH 1.00 X 0 0 0 CORNELL LEVERETTE MOORE 1.00 X 0 0 0 RAYMOND K NEWKIRK 1.00 X 0 0 0 ANDREA L NEWMAN 1.00 X 0 0 0 GARY N PETERSEN 1.00 X 0 0 0 KAY PHILLIPS 1.00 X 0 0 0 C MARTIN SCHUSTER 1.00 X 0 0 0 TALLA SKOGMO 1.00 X 0 0 0 TREASA SPRINGETT 1.00 X 0 0 0 MARC STEADMAN 1.00 X 0 0 0 DR BERNHARD VANLENGERICH 1.00 X 0 0 0 ANTHONY WILLIAMSON 1.00 X 0 0 0 JOHN K WOODWORTH 1.00 X 0 0 0 NANCY FUCHS 40.00 X 129937 0 1454 MARK SKIPPER 40.00 X 115850 0 13905 PATRICIA ANN EDMAN 40.00 X 113691 0 4502 JEFFREY M YLINEN 40.00 X 114838 0 8056 WILLIAM JORDAN 40.00 X 100161 0 13978 755151 0 42415 6 0 1 0 HEWLETT PACKARD FINANCIAL SERVICES PO BOX 402582 ATLANTA GA 30384 LAPTOP LEASES 2411848 LEVEL TOTAL 724 N FIRST STREET MINNEAPOLIS MN 55401 MARKETING/ADVERTISING 362359 CLIFTONLARSONALLEN LLP 220 SOUTH SIXTH STREET 300 MINNEAPOLIS MN 55402 ACCOUNTING SERVICES 150653 MARK ANDY INC 12705 COLLECTION CENTER DRIVE CHICAGO IL 60693 PRESSES (ASSET) AND TECH SUPPORT 141128 HEWLETT PACKARD 1140 LAKE GENEVE BLVD LAKE GENEVA WI 54147 ANNUAL MAINTENANCE SUPPORT 132801 7 2763383 602214 2763383 TUITION & RELATED INC 611600 17352044 17352044 OTHER REVENUES 900099 571010 571010 17923054 203690 203690 17406168 18880338 -1474170 -1474170 -1474170 19415957 17923054 0 -1270480 1376379 1376379 335143 335143 11101334 9181300 1394171 525863 566631 566631 1635849 1314707 247317 73825 716398 656724 22923 36751 101774 14946 71961 14867 25133 9108 16025 62996 62996 63000 63000 167018 167018 876526 228370 626551 21605 456763 13752 428548 14463 901556 628949 161975 110632 744407 92458 625750 26199 892163 801694 67050 23419 296031 264252 17881 13898 106025 58391 17034 30600 459148 459148 1390383 1388463 1920 EQUIPMT RENTAL/MAINTENA 776276 734191 42085 BAD DEBT EXPENSE 350055 350055 EMPLOYEE TRAINING 48116 2507 45499 110 MEALS 46828 36032 1298 9498 23495932 16802223 5727059 966650 2142214 686991 1275038 463021 633080 748199 770800 1203842 132871 92405 48569849 34085712 14643959 14484137 10067679 12217640 11047346 9997917 40712987 39894152 2384072 1580082 1800184 1825391 6889076 6684277 5132619 8374940 16205951 18464690 X 1537796 -1831695 9587546 9618067 13381694 13643090 24507036 21429462 40712987 39894152 X -4079975 1002401 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 21643449 261396 272231 586336 21590740 20915900 807198 1125769 1205418 21643449 20772644 303907 1027755 1188406 20915900 23772077 113904 -2394483 718854 20772644 0.04400 0.63200 0.32400 0 0 828504 828504 27456455 19167714 8288741 20062441 14917998 5144443 222449 222449 14484137 SPLIT-INTEREST AGREEMENTS 9997917 F 9997917 ANNUITY OBLIGATIONS 168730 ACCRUED PENSION COST 5204176 ENVIRONMENTAL REMEDIATION 210955 LINE OF CREDIT 2791079 8374940 19415957 23495932 -4079975 1465443 -463042 1002401 -3077574 21401761 1465443 1650000 3115443 18286318 123456 1006183 1129639 19415957 23646097 1650000 1650000 21996097 123456 1376379 1499835 23495932 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ENDOWMENT FUNDS ARE USED TO PROVIDE SCHOLARSHIPS AND TO FUND COLLEGE OPERATIONS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE COLLEGE IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS GENERALLY NOT SUBJECT TO INCOME TAXES. THEREFORE, ALL CONTRIBUTIONS ARE TAX DEDUCTIBLE. THE COLLEGE FOLLOWS THE GUIDANCE IN THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE COLLEGE FOLLOWS THE ACCOUNTING STANDARD FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THE COLLEGE HAS NO CURRENT OBLIGATION FOR UNRELATED BUSINESS INCOME TAX. THE COLLEGE'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AUTHORITIES. THE TAX RETURNS FOR THE YEARS 2009 TO 2011 ARE OPEN TO EXAMINATION BY FEDERAL AUTHORITIES. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN PENSION LIABILITY INCLUDING OTHER COMPREHENSIVE INCOME -463,042. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT INCOME GREATER THAN SPENDING RATE -370,196. SCHOLARSHIPS 1,376,379. PART XIII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 1,376,379. 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 WRITTEN MATERIALS RELATED TO THE COLLEGE'S POLICIES ARE GIVEN TO STUDENTS AT ORIENTATION. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES PELL, SEOG, ACG, FEDERAL WORK STUDY, AND VARIOUS GOVERNMENT-BACKED LOANS AND RELATED STATE FUNDS. X X X X X 1 MARK DAVY & ASSOCIATES 4035 BROOKSIDE AVE MINNEAPOLIS MN 55416 FUNDRAISING CONSULTING 0 0 63000 0 63000 MN 1 SCHOLARSHIPS 457 1376379 N/A N/A PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: ENDOWED AND ANNUAL SCHOLARSHIPS ARE AWARDED BASED ON CERTAIN CRITERIA SET BY THE INSTITUTION (DUNWOODY) AND DONORS. STUDENTS APPLY FOR SCHOLARSHIPS STARTING SPRING QUARTER OF THE PREVIOUS SCHOOL YEAR. APPLICATIONS ARE COMPILED AND REVIEWED BY A SCHOLARSHIP COMMITTEE. THE SCHOLARSHIP COMMITTEE CHOOSES THE STUDENT OR STUDENTS WHO ARE MOST DESERVING OF THE AWARD BASED ON THE CRITERIA AND FINANCIAL NEED. STUDENTS ARE NOTIFIED BY THE FINANCIAL AID OFFICE OF THE ACCEPTANCE TO THE AWARDS WHICH THEN BECOME PART OF THEIR FINANCIAL AID PACKAGE. SCHOLARSHIPS ARE DISBURSED TO THE STUDENTS ACCOUNT AS A CREDIT ON A QUARTERLY BASIS WHICH REDUCES THEIR TUITION. STUDENTS ARE REQUIRED TO WRITE A THANK YOU NOTE TO THE DONORS OF THE SCHOLARSHIP SHOWING THEIR APPRECIATION. IF A THANK YOU NOTE ISN'T WRITTEN, THE STUDENT DOESN'T RECEIVE THE SCHOLARSHIP. SCHOLARSHIPS ARE MONITORED BY THE FINANCIAL AID OFFICE. IF A STUDENT WITHDRAWS FROM SCHOOL, THE SCHOLARSHIP IS REVOKED. X X 1 1 X X X 1 0 0 0 0 0 0 0 0 RICHARD WAGNER PHD 173088 0 0 0 7586 0 0 0 520 0 181194 0 0 0 PART I, LINE 1A HEALTH CLUB DUES - RICHARD WAGNER - THE PERSONAL USE PORTION WAS INCLUDED IN TAXABLE INCOME; THE PORTION USED FOR BUSINESS EXPENSE WAS CONSIDERED NON-TAXABLE TRAVEL FOR COMPANIONS - RICHARD WAGNER - NOT INCLUDED IN TAXABLE INCOME PART I, LINE 4A MARK SKIPPER- SEVERANCE- $74,475 GRAY PLANT MOOTY A BOARD MEMBER OF DUNWOODY COLLEGE WAS A MANAGING OFFICER OF GPM 33775 LEGAL SERVICES 0 X 6 135830 BLUE BOOK X 6 102793 STOCK MARKET QUOTES X TOOLS & EQUIP 9 320185 SALES PRICE X ENGINES 5 43405 FMV 0 0 0 0 FORM 990, PART VI, SECTION A, LINE 1 THERE SHALL BE AN EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES OF THE CORPORATION CONSISTING OF NO FEWER THAN FIVE (5) MEMBERS, INCLUDING THE CHAIR OF THE BOARD, PRESIDENT, AND SUCH OTHER PERSONS ELECTED BY THE BOARD OF TRUSTEES BY RESOLUTION. ALL OF THE MEMBERS OF THE EXECUTIVE COMMITTEE SHALL BE TRUSTEES. THE EXECUTIVE COMMITTEE SHALL ACT ONLY DURING INTERVALS BETWEEN MEETINGS OF THE BOARD OF TRUSTEES AND SHALL AT ALL TIMES BE SUBJECT TO THE CONTROL AND DIRECTION OF THE BOARD OF TRUSTEES. DURING SUCH INTERVALS AND SUBJECT TO SUCH CONTROL AND DIRECTION, THE EXECUTIVE COMMITTEE SHALL HAVE AND MAY EXERCISE ALL OF THE AUTHORITY AND POWERS OF THE BOARD OF TRUSTEES IN THE MANAGEMENT OF THE AFFAIRS OF THE CORPORATION, SUBJECT TO SUCH LIMITATIONS AS THE BOARD OF TRUSTEES MAY IMPOSE. THE EXECUTIVE COMMITTEE SHALL KEEP REGULAR MINUTES OF ITS PROCEEDINGS AND REPORT THE SAME TO THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11 BEFORE IT WAS FILED, THE FORM 990 WAS REVIEWED BY THE PRESIDENT OF THE COLLEGE, THE FINANCE COMMITTEE AND THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE COLLEGE'S CONFLICT OF INTEREST POLICY APPLIES TO ALL OFFICERS, TRUSTEES AND COMMITTEE MEMBERS. IF AN INDIVIDUAL HAS A POTENTIAL OR ACTUAL CONFLICT OF INTEREST, THEY ARE REQUIRED TO DISCLOSE THE MATERIAL FACTS TO THE BOARD OR COMMITTEE BEFORE THE TRANSACTION IN QUESTION IS CONSIDERED. AFTER PRESENTING THE MATERIAL FACTS, THE INTERESTED PERSON IS REQUIRED TO LEAVE THE ROOM FOR THE DISCUSSION AND VOTE ON THE MATTER. TO INVESTIGATE ALTERNATIVES, THE BOARD OR COMMITTEE MAY REQUEST COMPARABILITY DATA AND/OR APPOINT A DISINTERESTED PERSON. IF A MORE ADVANTAGEOUS TRANSACTION IS NOT REASONABLY ATTAINABLE, THE DISINTERESTED BOARD OR COMMITTEE MEMBERS DETERMINE, BY MAJORITY VOTE, WHETHER TO ENTER INTO THE TRANSACTION. ALL RELEVANT INFORMATION IS RECORDED IN THE MINUTES OF THE MEETING. EACH OFFICER, TRUSTEE AND COMMITTEE IS REQUIRED TO ANNUALLY REVIEW THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15A WHEN DETERMINING THE COMPENSATION OF THE PRESIDENT, THE CHAIR OF THE BOARD AND THE EXECUTIVE COMMITTEE USES SALARY BENCHMARKING DATA TO RECOMMEND THE PRESIDENT'S COMPENSATION. THIS PROCESS WAS LAST UNDERTAKEN IN 2011 FOR THE PRESIDENT, R. WAGNER. WHEN DETERMINING THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES, THE H.R. DIRECTOR PROVIDES SALARY BENCHMARKING DATA TO THE PRESIDENT WHO DETERMINES THEIR COMPENSATION. SALARY INCREASE GUIDELINES ARE PROVIDED BY THE ACCOUNTING DEPARTMENT BASED ON BUDGET CONSTRAINTS. THIS PROCESS WAS LAST UNDERTAKEN IN 2011 FOR THE CFO, NANCY FUCHS. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE'S FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THE COLLEGE'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT OPEN TO THE PUBLIC. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 1,465,443. CHANGE IN PENSION LIABILITY INCLUDING OTHER COMPREHENSIVE INCOME -463,042. TOTAL TO FORM 990, PART XI, LINE 5: 1,002,401. CHARITABLE REMAINDER TRUST (1) 818 DUNWOODY BOULEVARD MINNEAPOLIS MN 55403 INVESTMENT MN N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0