2013-05-13T18:11:24-07:00 2012-06-30 911194016 Clark Nuber PS 10900 NE 4th Street Suite 1700 Bellevue WA 98004 990 2011-07-01 910565006 SEATTLE UNIVERSITY SEAT 2062966150 901 12th Avenue Seattle WA 981221090 Constance Kanter 2062969481 2013-05-13 1 Sara Elizabeth Hyre P00235495 4254544919 2013-05-13 2011 2016-02-24 21:20:13Z Stephen V Sundborg SJ President 901 12th Avenue Seattle WA 981221090 296560846 0 X www.seattleu.edu X 1891 WA Institution of higher education. Seattle University is dedicated to educating the whole person, to professional formation, and to empowering leaders for a just and humane world. In the academic year 2011-12, the University enrolled students and awarded undergraduate degrees, graduate degrees, doctoral degrees and professional degrees. 29 22 4140 124 554030 0 15363112 18368355 229552437 238203677 4011817 8192839 838405 554030 249765771 265318901 59347539 59045818 0 0 118744803 124106565 393191 40132 3428395 70913716 71204112 249399249 254396627 366522 10922274 591265813 591361365 194834208 191892041 396431605 399469324 Seattle University is dedicated to educating the whole person, to professional formation, and to empowering leaders for a just and humane world. 0 0 196506009 59045818 228840338 Seattle University, founded in 1891, is a Jesuit Catholic university located on 50 acres in Seattle's Capitol Hill neighborhood. During the 2011-12 academic More than 8,800 students enrolled in undergraduate and graduate programs within eight schools and colleges. U.S. News and World Report's "Best Colleges 2011" ranks Seattle University among the top ten universities in the West that offer a full range of masters and undergraduate programs. The Fiske Guide to Colleges has named Seattle University as a "Best Buy" school in its 2012 edition. All of the "Best Buy" schools fall into the inexpensive or moderate price category, and most have four- or five-star academics ratings. In the academic year 2011-12, the University enrolled 7,762 students and awarded 1,250 undergraduate degrees, 802 graduate degrees, and 9 doctoral degrees. The University's School of Law is the most diverse law school in the Northwest, dedicated to the twin priorities of academic excellence and education for justice. The School of Law is home to leading academic programs, including the country's top-ranked Legal Writing Program, the Ronald A. Peterson Law Clinic, and distinguished centers and institutes. These programs and a superb faculty support the law school's mission to educate outstanding lawyers to be leaders for a just and humane world. In the academic year 2011-12, the School of Law enrolled 1,055 students and awarded 325 professional degrees. The School of Law accounted for $24,644,609 in program service expenses (including grants of $5,040,267) and $38,182,347 in revenue. 12612167 0 15363339 Auxiliary enterprise services contribute importantly to the overall education of students, including providing student access to textbooks, classroom materials, and supplies, as well as on-campus housing for approximately 1,830 students. 0 0 0 209118176 1 1 0 1 0 0 0 0 1 1 1 1 0 0 1 1 1 0 1 0 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 1 1 0 0 0 1 421 0 1 4140 1 1 1 0 0 0 0 1 1 0 0 0 0 X 29 22 1 0 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 WA X Kim Crewey 2062969481 901 12th Avenue Seattle WA 981221090 X Mohamed Alabbar 0.5 X 0 0 0 Michael Bayard SJ 37.50 X 77265 0 0 Robert Blais 0.5 X 0 0 0 Mark Bosco SJ 37.5 X 30000 0 0 David Burcham 0.5 X 0 0 0 Peter W Chiarelli 0.5 X 0 0 0 Scott W Coble SJ 0.5 X 0 0 0 Theodore Collins 0.5 X 5000 0 0 Marta Dalla Gasperina 0.5 X 0 0 0 Thomas A Ellison 0.5 X 0 0 0 Patrice M Fersch 0.5 X 0 0 0 Allan C Golston 0.5 X 0 0 0 Donald J Horowitz 0.5 X 0 0 0 Patrick J Howell SJ 37.50 X 46024 0 0 W Craig Jelinek 0.5 X 0 0 0 Kent L Johnson 0.5 X 4300 0 0 Patrick M Kelly SJ 37.50 X 55831 0 0 Maureen Lee 0.5 X X 0 0 0 Michael C McCarthy SJ 0.5 X 0 0 0 Gordon A McHenry 0.5 X 0 0 0 Carol K Nelson 0.5 X 0 0 0 Nicole W Piasecki 0.5 X 0 0 0 Robert A Ratliffe 0.5 X 0 0 0 Rick C Redman 0.5 X 0 0 0 Stuart T Rolfe 0.5 X X 0 0 0 Pete J Rose 0.5 X 0 0 0 David Sabey 0.5 X 0 0 0 Mick J Schreck 0.5 X 0 0 0 Stephen V Sundborg SJ 37.5 X X 319500 0 31934 Stevens U Trainer 0.5 X 0 0 0 Jill A Wakefield 0.5 X 0 0 0 Betty Woods 0.5 X X 0 0 0 Jeffrey Wright 0.5 X 0 0 0 James I Adolphson 37.5 X 160347 0 23565 Isiaah Crawford 37.5 X 268268 0 58475 Marilyn Ann Crone 37.5 X 213650 0 48014 Jacob L Diaz 37.5 X 149016 0 25767 Robert J Dullea 37.5 X 162760 0 34962 Peter B Ely SJ 37.5 X 133068 0 20645 Gerald V Huffman 37.5 X 152316 0 22833 Constance R Kanter 37.5 X 0 0 0 Timothy P Leary 37.5 X 200768 0 47958 Mary Kay McFadden 37.5 X 197486 0 26959 Mary S Petersen 37.5 X 186527 0 55707 Azita Emami 37.5 X 201648 0 28903 Mark Niles 37.5 X 319854 0 38672 Joseph M Phillips Jr 37.5 X 199340 0 63500 David Powers 37.5 X 175491 0 31053 Michael Jay Quinn 37.5 X 170166 0 45213 Melinda J Branscomb 37.5 X 299827 0 7345 Cameron Dollar 37.5 X 263703 0 33093 Marilyn E Gist 37.5 X 232250 0 25381 WH Knight 37.5 X 216454 0 36979 Charles OKelley 37.5 X 276846 0 31934 Ronald Smith 37.5 X 116937 0 17833 4834642 0 756725 186 1 1 0 MA Mortenson Company PO Box 1867 Bellevue WA 98009 Construction contractor 4541605 Ellucian Company LP 62590 Collections Center Dr Chicago IL 60693 Information techology services 4082406 Witt Fiala Flannery and Associates PO Box 958204 St Louis MO 63195 Janitorial services 2099030 RAFN Company 1721 132nd Ave NE Bellevue WA 98005 Construction contractor 559302 McKinstry Essention Inc 5005 3rd Ave South Seattle WA 98124 Construction contractor 535806 38 0 0 534394 0 4335239 13498722 1679304 18368355 Tuition and fees 611310 220498102 220498102 0 0 Auxiliary revenue 611310 15363339 15363339 0 0 Other revenue 611310 2342236 2342236 0 0 0 0 0 0 238203677 1736997 0 0 1736997 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 37344305 0 30888463 0 6455842 0 6455842 0 0 6455842 97200 534394 353482 -256282 -256282 0 0 0 0 0 0 0 0 0 0 0 0 0 Intercollegiate Athletics 711210 653083 0 653083 0 UBTI investments 523999 157229 0 157229 0 0 0 0 0 810312 265318901 238203677 554030 8192839 0 0 59045818 59045818 0 0 0 0 2782949 0 2782949 0 0 0 0 0 93685037 73374024 18114784 2196229 7491441 5858484 1446359 186598 13116411 10388134 2564652 163625 7030727 5382547 1328858 319322 0 0 0 0 551607 442389 109218 0 169900 136260 33640 0 17598 0 17598 0 40132 40132 1999225 0 1999225 0 7958087 6245702 1541956 170429 959091 751085 185430 22576 2550571 1902836 469777 177958 1528446 1210213 298781 19452 0 0 0 0 7741731 6205423 1532012 4296 4049907 3215060 793743 41104 0 0 0 0 2952212 2175931 537200 239081 6608854 5300301 1308553 0 0 0 0 0 13514332 10838494 2675838 0 1438155 1153400 284755 0 Supplies 5117688 4075468 1006163 36057 Retail services 7115981 5705564 1408606 1811 Purchases for resale 2789811 2178904 537934 72973 Special event expenses -353482 0 0 -353482 4494398 3532139 872025 90234 254396627 209118176 41850056 3428395 21103503 7600921 20688896 43089817 8323517 5310354 4543551 6060431 0 0 0 0 7701384 7710049 709028 819342 1743853 2773065 446906177 117437943 323357181 329468234 51212764 43572737 128699424 126890268 0 0 4940524 4940524 18242188 13125623 591265813 591361365 27085923 24484692 0 0 9876829 10039931 143329661 140468422 2712989 2275539 0 0 0 0 0 0 11828806 14623457 194834208 191892041 X 238503294 247224479 58298377 50168560 99629934 102076285 396431605 399469324 591265813 591361365 X 10922274 -7884555 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 1 261 0 0 1 17337 0 0 17598 0 SchC_P2B_S00_L01 Schedule C, Part II-B, Line 1 The University reduced lobbying expenditures this year because it no longer contracts with Cassidy and Associates, Inc. to serve as a liaison to government agencies and to identify, develop and present institutional initiatives for consideration by committees of Congress and federal regulatory agencies. The University participated in a coalition of Seattle-area institutions for lobbying on city zoning related issues. The University pays membership dues to organizations which engage in some lobbying activities. Thus, a portion of the dues are attributable to lobbying activities. 0 1 178758605 3879210 -1985829 0 6502046 0 174149940 152815196 1374251 32024307 0 7455149 0 178758605 151180031 2912779 9228006 0 10505620 0 152815196 206654870 4416879 -50530972 0 9360746 0 151180031 0.21 0.59 0.2 0 0 0 44691327 44691327 0 345824128 89010865 256813263 0 3808616 1999816 1808800 0 21384106 9885790 11498316 0 31198000 16541472 14656528 329468234 0 0 Private equity partnerships 49092708 F Hedge funds 42897832 F Commingled funds 33994828 F All other investments 904900 F 126890268 Bond issuance costs 1743537 Funds held in trust by others 1711093 Assets held under split interest agreements 7429849 Construction in progress 2178644 Other deposits 62500 13125623 0 Liabilities under split-interest agreements 4967817 Unrealized loss on int. rate swap agreement 3367599 US government loan funds 6288041 14623457 265318901 254396627 10922274 -7884555 0 0 0 0 -7884555 3037719 198742010 -7884555 0 0 -59045818 -66930373 265672383 0 -353482 -353482 265318901 195704291 0 0 0 -59045818 -59045818 254750109 0 -353482 -353482 254396627 SchD_P04_S00_L02b Schedule D, Part IV, Line 2b Seattle University receives cash deposits on behalf of various student clubs. Funds are disbursed on behalf of those clubs for various items such as printing, mailing, audio/visual equipment, and catering. SchD_P05_S00_L04 Schedule D, Part V, Line 4 Endowment funds are invested to provide income to support educational activities, either as a result of donor-imposed restrictions or as a result of designations by the Board of Trustees. SchD_P10_S00_L02 Schedule D, Part X, Line 2 The University has considered the impact of ASU No. 2009-06, Implementation Guidance on Accounting for Uncertainty in Income Taxes and Disclosure Amendments for Nonpublic Entities, and after review of the potential impact of various tax provisions, it was determined that no potential liability exists for those positions. SchD_P12_S00_L02d Schedule D, Part XII, Line 2d For financial statement purposes, the University deducts student aid expense from gross tuition and fees to derive net tuition and fees. SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Special event expenses treated as reduction of revenue in Part VIII and accounted for as expense in audited financial statements. SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d For financial statement purposes, the University deducts student aid expense from gross tuition and fees to derive net tuition and fees. SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Special event expenses treated as reduction of revenue in Part VIII and accounted for as expense in audited financial statements. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SchE_P01_S00_L03 Schedule E, Part I, Line 3 The University's Nondiscrimination Policy is prominently displayed on its public website and in all brochures, publications, and catalogs dealing with student admissions, programs, and scholarships. SchE_P01_S00_L05h Schedule E, Part I, Line 5h The University has determined that emphasizing diversity as a matter of institutional policy is an integral component of educational excellence. Consistent with this academic judgment, the University recruits, admits, retains, and graduates students who meet the University's requirements for academic success and who bring to the University a variety of talents, backgrounds, experiences, and personal characteristics, including but not limited to race; gender; ethnicity; religion; socio-economic background; and geographic origin. Diversity produces these educational benefits and outcomes through thoughtfully structured policies and programs, consistent with standards in state and federal law, and designed to support and facilitate interaction among students as part of the academic and co-curricular experience. These include outreach and enrichment; recruitment, financial aid, scholarships, general educational diversity course requirements, programs designed to improve retention and to cultivate a learning environment, in and out of the classroom, which enhance the individual and collective experiences of the campus community. SchE_P01_S00_L06 Schedule E, Part I, Line 6 The University receives various federal, state, local, and foundation grants for academic activities, research, student financial aid, loan, and work study programs. 1 Europe (including Iceland and Greenland) 0 0 Program Services Study abroad. See note in Part V 0 Central America and the Caribbean 0 0 Investments 24797810 Europe (including Iceland and Greenland) 0 0 Investments 27704 North America (including Canada and Mexico, but not the United States) 0 0 Investments 16876 South America 0 0 Investments 11844 0 0 24854234 1 0 1 0 0 0 SchF_P01_S00_L02 Schedule F, Part I, Line 2 Seattle University participates in a number of study abroad programs conducted by other colleges and universities throughout the United States. Detailed information regarding fees the University pays to these colleges and universities for study abroad programs is maintained at the academic department level. The University does not have a method to summarize at an institutional level expenditures and number of students served. The University has holdings in alternative and other investments in funds legally domiciled outside the United States. The University monitors those investments through due diligence by the investment committee, Associate VP for Finance, and investment accountant. X X X X X X X 1 Legacy Leaders Inc 425 University Ave Suite 7 Toronto Ontario CA M5G 1T6 Legacy Leaders (the Company) provides direct marketing services (mail and telephone) specifically focused on securing planned and estate gifts for the University. The University provides the company with a list of individuals identified as planned giving donors. The Company directs to University staff those individuals interested in making a planned gift. The Company also follows up with stewardship (such as thank you letters), calling, and mailing. The University does not track specific bequests resulting from services rendered by the Company. 0 0 40132 -40132 0 40132 -40132 WA Annual Gala 631594 534394 97200 0 0 20807 123093 37601 171981 0 0 631594 534394 97200 0 0 20807 123093 37601 171981 353482 -256282 1 Grants from institutional funds 3125 0 25451408 Book Financial aid. Scholarships from institutional funds 2862 0 28121177 Book Financial aid. Scholarships and grants funded from gifts and other restricted funds 531 0 2848665 Book Financial aid. All other student aid 1361 0 2624568 Book Financial aid. SchI_P01_S00_L02 Schedule I, Part I, Line 2 The Enrollment Services Division, Office of Student Financial Services, and Office of Research Services and Sponsored Projects are responsible for the administration of all grants and student aid according to current law, regulations, and policies prescribed by grantors. The University is subject to annual audits conducted in accordance with OMB Circular A-133. X X 1 1 X X X X X X 0 0 0 0 0 0 0 0 0 James I Adolphson 138347 0 0 0 0 0 16202 0 7363 0 161912 0 0 0 Melinda J Branscomb 277827 0 0 0 0 0 3682 0 3663 0 285172 0 0 0 Isiaah Crawford 222268 0 0 0 24000 0 24107 0 34368 0 304743 0 0 0 Marilyn Ann Crone 195350 0 0 0 1800 0 19190 0 28824 0 245164 0 0 0 Jacob L Diaz 138400 0 0 0 0 0 15453 0 10314 0 164167 0 0 0 Cameron Dollar 180565 0 23138 0 60000 0 18750 0 14343 0 296796 0 0 0 Robert J Dullea 153760 0 0 0 0 0 16566 0 18396 0 188722 0 0 0 Peter B Ely SJ 133068 0 0 0 0 0 13307 0 7338 0 153713 0 0 0 Azita Emami 201648 0 0 0 0 0 20604 0 8299 0 230551 0 0 0 Marilyn E Gist 210250 0 0 0 0 0 19424 0 5957 0 235631 0 0 0 Gerald V Huffman 130316 0 0 0 0 0 15453 0 7380 0 153149 0 0 0 WH Knight 198454 0 0 0 0 0 22627 0 14352 0 235433 0 0 0 Timothy P Leary 188768 0 0 0 0 0 20759 0 27199 0 236726 0 0 0 Mary Kay McFadden 175486 0 0 0 0 0 19525 0 7434 0 202445 0 0 0 Mark Niles 319854 0 0 0 0 0 24500 0 14172 0 358526 0 0 0 Charles OKelley 254846 0 0 0 0 0 24500 0 7434 0 286780 0 0 0 Mary S Petersen 164527 0 0 0 0 0 19754 0 35953 0 220234 0 0 0 Joseph M Phillips Jr 195015 0 0 0 0 0 21222 0 42278 0 258515 0 0 0 David Powers 158991 0 0 0 0 0 18342 0 12711 0 190044 0 0 0 Michael Jay Quinn 156600 0 0 0 0 0 18029 0 27184 0 201813 0 0 0 Ronald Smith 116938 0 0 0 0 0 18750 0 6355 0 142043 0 0 0 Stephen V Sundborg SJ 319500 0 0 0 0 0 24500 0 7434 0 351434 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a The University paid $82,026 in club dues for certain officers and key employees for business-related purposes, as follows: Rainier Club ($59,075): Stephen V. Sundborg SJ $3,874; Mark Niles $33,915; Joseph M. Phillips Jr. $2,786; School of Law $18,500. Rotary Club ($5,720): Stephen V. Sundborg SJ $1,910; Joseph M. Phillips Jr. $1,565; Mary Kay McFadden $2,245. University Club: Stephen V. Sundborg SJ ($4,722). Washington Athletic Club ($12,509): Stephen V. Sundborg SJ $123; Mark Niles $4,218; William Hogan $4,277; Mary Kay McFadden $2,170; Jane Orr $856; School of Law $865. The University provides an annual housing allowance, which is taxable, to Cameron Dollar in the amount of $60,000. The University provides an annual housing allowance, which is taxable, to Isiaah Crawford in the amount of $24,000. The University provided a housing allowance, which was taxable, to Marilyn Crone in the amount of $1,800. SchJ_P02_S00_L00 Schedule J, Part II Seattle University President Stephen V Sundborg SJ and Vice President for Mission and Ministry Peter Ely SJ live in the Arrupe Jesuit Community residence, which is located on the University campus and also houses other Jesuits assigned to the University. Washington Higher Education Facilities Authority 911306482 9387812J2 2007-07-25 38075000 Capital Project 0 0 0 Washington Higher Education Facilities Authority 911306482 838781UG3 2003-10-28 15420000 Refunding 0 0 0 Washington Higher Education Facilities Authority 911306482 939781UN7 2005-09-21 23505000 Refunding 0 0 0 Washington Higher Education Facilities Authority 911306482 939781A26 2008-03-20 26595000 Refunding 0 0 0 0 0 38075000 0 0 0 931512 0 0 37143488 0 0 2009 0 0 1 1 13405000 0 15420000 0 0 0 342538 0 0 0 15077462 0 2003 1 0 1 1 3435000 0 23505000 0 0 0 464468 0 0 0 15077462 0 2005 1 0 1 1 3935000 0 26595000 0 0 0 373725 0 0 0 26221275 0 2008 1 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 1 1 Bank of New York 2.9 0 0 0 0 0 X Washington Higher Education Facilities Authority 911306482 939781K81 2009-09-30 41775000 Capital Project 0 0 0 Washington Higher Education Facilities Authority 911306482 939781J68 2011-09-01 14570000 Refunding 0 0 0 0 0 41775000 0 0 0 515109 0 0 41258891 0 0 2010 0 0 1 1 0 0 14570000 0 0 0 530137 0 0 0 14039863 0 2011 1 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0 0 0 0 James Tower LLC Entity which David Sabey, Trustee, served as an officer during the year. 707694 Life science lab and office lease. 0 Premera Blue Cross Carol K. Nelson, Trustee 354179 Ms. Nelson was a member of the Board of Directors of Premera Blue Cross, one of the health care insurers for Seattle University employees. 0 Mary Rolfe Ms. Rolfe is the sister-in-law of Trustee Stuart Rolfe 85682 Ms. Rolfe is employed as an Academic Development Officer in the Office of University Advancement. 0 Erin Sweezy Ms. Sweezy is married to Timothy Leary, the University's Executive Vice President. 40053 Ms. Sweezy is a member of the faculty of the College of Education 0 X 14 1679304 FMV 0 0 1 0 SchM_P01_S00_L09 Schedule M, Part I, Line 9 The amount reported in Schedule M, Part I, column B, line 9 represents the number of contributors during the year. F990_P06_S0A_L02 Form 990, Part VI, Section A, Line 2 Trustee Rolfe and Trustee Trainer each has a business or financial interest in an entity that owns or operates a mixed use structure on property leased from Seattle University and that provides housing opportunities for students and faculty. F990_P06_S0A_L04 Form 990, Part VI, Section A, Line 4 On May 16, 2012, the University amended Article III, Section 2 of the corporate Bylaws relating to the selection of Jesuits for service on the Board of Trustees. The corporate Bylaws provided that three of the seven Trustees belonging to the Society of Jesus shall be chosen by Members from among the Jesuits assigned to staff or faculty duties at Seattle University. The Bylaws were amended to allow the Members, after consultation with the President, to choose qualified Jesuits for service on the Board of Trustees who may not be assigned to staff or faculty duties at Seattle University. F990_P06_S0A_L06 Form 990, Part VI, Section A, Line 6 Seattle University is a Washington nonprofit corporation governed by a Board of Trustees that is responsible for the overall management of the affairs of the University. As a nonprofit member corporation established under Washington state law, the University has a Board of Members. The University has seven members. Each member is required to be in good standing in the Society of Jesus. The seven members include the following: the Rector of the Seattle University Jesuit Community and six Jesuits from among those under contract at Seattle University. The President, Provost and any Vice President of Seattle University are ineligible to be a member. Members are elected by Jesuits currently under contract at Seattle University. F990_P06_S0A_L07a Form 990, Part VI, Section A, Line 7a The bylaws for Seattle University require at least seven of the thirty-five Trustees belong to the Society of Jesus, one of whom is the President of the University ex officio. These Jesuit Trustees are chosen by the Members. Any Trustees appointed by the Members may be removed from the governing board by the affirmative vote of two-thirds of all the Members. Any vacancies of Trustees originally appointed by the Members should be subsequently filled with another individual appointed by the Members. F990_P06_S0A_L07b Form 990, Part VI, Section A, Line 7b The principal duty of the Members is to ensure furtherance of the work of Catholic higher education in accordance with the traditions and ideals of the Society of Jesus. The power to alter, amend, or repeal the Articles of Incorporation or the Bylaws is reserved to the members and must be exercised in accordance with the Bylaws. The Members may delegate this authority to the Board of Trustees in whole or in part. The Board of Trustees may not authorize the sale or lease of any corporate properties having a fair market value in excess of $300,000 without the written approval of a majority of the members. Members, like Trustees, have a duty to conduct themselves in the best interests of the University consistent with the objectives and purposes of the University as stated in the Articles and Bylaws. F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b Each voting member of the Board of Trustees was provided with an electronic copy of Form 990 and supporting schedules prior to filing with the IRS. The chair of the Audit Committee of the board reviewed the form and schedules as well. The form and schedules were also reviewed by appropriate officers and management, including but not limited to the CFO, the Controller, the Executive Vice President, and University Counsel. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c The Conflict of Interest Policy for Trustees is contained in the Bylaws of the University. Trustees are informed of this policy during trustee orientation and the annual meeting. On an annual basis, each trustee is asked to furnish a written statement indicating whether he or she is involved in any matter that poses an actual or potential conflict of interest. Trustees are expected to update the disclosure throughout the year as may be appropriate. After a trustee's disclosure of a potential financial or other conflict of interest, the chair of the Board of Trustees in consultation with the University Counsel, determines whether the situation constitutes a conflict of interest requiring action by the board. If the chair of the board believes board action is appropriate, the interested person must leave the board meeting where the financial or other interest is discussed and voted upon, unless requested to stay either to respond to questions or provide information to the board on the matter under discussion. The remaining board members decide if a conflict of interest exists and the appropriate course of action. Officers, key employees, faculty, and staff are covered by the University conflict of interest policy. Individuals are informed of this policy at the time of hire. The policy is contained in the Human Resources Policy Manual and is available to faculty and staff on the University's website. Upon identification of a potential conflict of interest, the matter is reviewed and evaluated by University officials and a determination is made regarding an appropriate action. The University has also adopted a Policy for Financial Conflict of Interest Disclosure and Management for Investigators in Externally Sponsored Programs in compliance with the US Department of Health and Human Services regulations (42 CFR Part 50, Subpart F) and the financial conflict of interest policies of the National Science Foundation (NSF). Finally, the Office of Finance and Business Affairs, through the Office of the Controller, reviews carefully all proposed business transactions, expenditures, and requests for reimbursements to determine compliance with University policies, including those relating to conflict of interest. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 The University's process for determining compensation for the president, officers, and key employees includes the following elements: (1) an authorized committee of the Board of Trustees composed entirely of individuals who are unrelated to, and not subject to, the control of disqualified persons involved in the compensation arrangement; (2) reliance on appropriate comparability data, including compensation levels paid by similarly situated organizations for functionally comparable positions; the location of the University, including the availability of similar specialties in the geographic area; independent compensation surveys by national-recognized independent firms; and written offers from similar institutions competing for the services of the disqualified person; and (3) documentation by the authorized body that adequately documents the basis for determination concurrent with making decisions regarding the compensation arrangement. The Executive Committee of the Board of Trustees serves as the compensation committee and follows this process annually. The compensation arrangement for the President, Provost, Executive Vice President, CFO, and other members of the Cabinet was most recently reviewed on May 1, 2013. Within the institution, appropriate comparability data is also obtained and reviewed for all other officers, key employees and any other highly-compensated employees. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 While applicable federal tax laws do not mandate that the University's governing documents, conflict of interest policy. and financial statements be made available for public inspection, the University makes each of the foregoing available on its website, www.seattleu.edu, or upon request. F990_P07_S0A_L01d Form 990, Part VII, Section A, Line 1d Stephen V. Sundborg, SJ, Peter Ely, SJ, Patrick Howell, SJ, Michael Bayard, SJ, and Patrick Kelly, SJ, are all members of the Society of Jesus who are employed by Seattle University. Each has assigned his gross salary and the dollar equivalent of his employee benefits to the Jesuit Community at Seattle University in accordance with Article VI of the Bylaws of Seattle University. F990_P11_S00_L05 Form 990, Part XI, Line 5 Net unrealized losses on investments. Seattle University Foundation 901 12th Avenue Seattle WA 98122 911130769 Fundraising WA 501(c)(3) Type I Seattle University 1 Charitable Remainder Unitrusts (6) Seattle University Foundation 900 Broadway - Admin 120 Seattle WA 981224340 Investment WA Seattle University T Charitable Remainder Annuity Trusts (2) Seattle University Foundation 900 Broadway - Admin 120 Seattle WA 981224340 Investment WA Seattle University T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0