2013-04-04T17:47:38-05:00 2012-05-31 410746749 CLIFTONLARSONALLEN LLP 4250 N FAIRFAX DRIVE SUITE 1020 ARLINGTON VA 22203 990 2011-06-01 530259954 NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS NATI 2028612500 1110 VERMONT AVENUE NW NO 800 WASHINGTON DC 20005 ELBERT OUZTS 2028612500 2013-03-28 1 ANGEL NGANDO P00719222 5712279500 2011 2016-02-25 16:41:14Z ELBERT OUZTS 1110 VERMONT AVENUE NW NO 800 WASHINGTON DC 20005 14541227 0 X WWW.NACUBO.ORG X 1956 IL TO DEVELOP, PROMOTE, AND IMPROVE BUSINESS AND FINANCIAL PRINCIPLES AND PRACTICES IN THE ADMINISTRATION OF INSTITUTIONS OF HIGHER EDUCATION. 23 22 51 22 755292 120438 280959 320129 12220599 12365779 205237 186196 628423 788090 13335218 13660194 0 0 0 0 5134186 5639583 0 0 151199 7057311 7207597 12191497 12847180 1143721 813014 13506929 15785391 8303402 10160914 5203527 5624477 X THE USUAL PUBLIC ACTIVITIES OF NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS ARE TO DEVELOP, PROMOTE, AND IMPROVE BUSINESS AND FINANCIAL PRINCIPLES AND PRACTICES IN THE ADMINISTRATION OF INSTITUTIONS OF HIGHER EDUCATION AND TO FOSTER AMONG MEMBER INSTITUTIONS PROFESSIONAL IDEALS AND STANDARDS IN BUSINESS AND FINANCIAL ADMINISTRATION. NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS' CORE MISSION IS TO IMPROVE FINANCIAL AND ADMINISTRATIVE MANAGEMENT AT INSTITUTIONS OF HIGHER EDUCATION. TO THIS END, NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS MARSHALS EXPERTISE, SHARES KNOWLEDGE, PROVIDES TECHNICAL ASSISTANCE, AND ENCOURAGES INNOVATION IN BUSINESS PRACTICES. AREAS OF FOCUS INCLUDE ACCOUNTING AND FINANCIAL MANAGEMENT INCLUDING ENDOWMENTS AND DEBT, TAXATION, STUDENT FINANCIAL SERVICES, AND BUSINESS OPERATIONS INCLUDING INFORMATION TECHNOLOGY AND FACILITIES MANAGEMENT. 0 0 4044432 4726738 CONFERENCES, WORKSHOPS AND SEMINARSIN 2011-2012, A COMMUNITY OF APPROXIMATELY 300 COMMITTEE AND FACULTY MEMBERS OR PRESENTERS ALONG WITH ASSOCIATION STAFF PARTICIPATED IN THE PROCESS OF DESIGNING AND DELIVERING PROGRAMS TO MORE THAN 3600 REGISTRANTS. THE NACUBO ANNUAL MEETING IS THE MOST IMPORTANT PROFESSIONAL DEVELOPMENT EVENT OF THE YEAR FOR COLLEGE AND UNIVERSITY BUSINESS OFFICERS AND THEIR STAFF. APPROXIMATELY 1400 PAID REGISTRANTS ATTENDED THE CONFERENCE, HELD IN TAMPA, FLORIDA FOR THE 2012 FISCAL YEAR. SESSION TOPICS INCLUDED PROGRAM SERVICE ACCOMPLISHMENTS, ACCOUNTING, FINANCIAL ADMINISTRATION, AUXILIARY ENTERPRISES, CHANGE MANAGEMENT, DISTANCE EDUCATION, TAXATION, AND MANY OTHER TECHNICAL, MANAGERIAL, AND LEADERSHIP ISSUES.NACUBO PRESENTED 21 WEB CASTS FROM THE ASSOCIATION'S STUDIO DURING THE YEAR. MORE THAN 2200 SITES WERE REGISTERED. THE WEB CASTS COVERED "HOT TOPICS" IN HIGHER EDUCATION BUSINESS AND ADMINISTRATION. THIS DEPARTMENT ADMINISTERS A CONTINUING PROFESSIONAL EDUCATION (CPE) CREDIT PROGRAM FOR CERTIFIED PUBLIC ACCOUNTANTS. NACUBO IS REGISTERED WITH THE NATIONAL ASSOCIATION OF STATE BOARDS OF ACCOUNTANCY (NASBA) AS A SPONSOR OF CONTINUING PROFESSIONAL EDUCATION ON THE NATIONAL REGISTRY OF CPE SPONSORS. PROFESSIONAL DEVELOPMENT (PDC) -NACUBO CREATES AND DELIVERS A BROAD RANGE OF PROGRAMS, SERVICES, AND PRODUCTS THAT ARE DESIGNED TO STRENGTHEN THE ABILITIES AND KNOWLEDGE OF CAMPUS ADMINISTRATORS AT ALL LEVELS. TO MEET THE CHANGING NEEDS OF HIGHER EDUCATION, NACUBO HAS DEVELOPED A VARIETY OF WORKSHOPS AND MATERIALS COVERING TOPICS IN THE FIELDS OF ACCOUNTING, HIGHER EDUCATION FINANCE, LEADERSHIP AND MANAGEMENT, TAX, STUDENT FINANCIAL SERVICES, CAMPUS OPERATIONS, AND TECHNOLOGY. 4680154 7639741 OTHER MEMBER SERVICESTHE ASSOCIATION KEEPS MEMBERS INFORMED OF FEDERAL ACTIONS, SOLICITS MEMBER OPINIONS AND CONCERNS, AND ADVOCATES FOR THE BEST INTERESTS OF COLLEGES AND UNIVERSITIES WITH CONGRESS AND FEDERAL AGENCIES. THE ASSOCIATION'S ADVOCACY EFFORTS WERE COORDINATED WITH A NUMBER OF OTHER ASSOCIATION'S REPRESENTING VARIOUS HIGHER EDUCATION CONSTITUENCIES. IN ADDITION, NACUBO IS THE VOICE FOR HIGHER EDUCATION WITH THE VARIOUS BODIES THAT SET STANDARDS FOR ACCOUNTING PRACTICES, SUCH AS THE FINANCIAL ACCOUNTING STANDARDS BOARD, THE ASSOCIATION OF CERTIFIED PUBLIC ACCOUNTANTS, AND THE U.S. GENERAL ACCOUNTING OFFICE.RESEARCH - NACUBO UNDERTAKES BOTH ON-GOING LONGITUDINAL STUDIES IMPORTANT TO THE HIGHER EDUCATION INDUSTRY SUCH AS THE ASSOCIATION'S ANNUAL STUDY OF COLLEGE AND UNIVERSITY ENDOWMENTS AND SHORT SURVEYS OR RESEARCH ON SPECIFIC ISSUES OF CONCERN.REGIONAL ASSOCIATIONS AND PARTNERSHIPS -NACUBO MANAGES AN ASSOCIATION MANAGEMENT SYSTEM THAT SERVES THE JOINT MEMBERSHIP OF THE NATIONAL ASSOCIATION AND ITS FOUR REGIONAL AFFILIATED ASSOCIATIONS (CACUBO, EACUBO, SACUBO AND WACUBO). THE SYSTEM CAPTURES A VARIETY OF DATA POINTS THAT ENABLE IMPROVED TRACKING OF INDIVIDUAL MEMBER ACTIVITY AND DUES BILLING AND COLLECTION PROCESSES. THIS DATABASE IS LINKED TO BOTH A CONTENT MANAGEMENT SYSTEM AND THE ASSOCIATION WEBSITE IMPROVING MEMBER SERVICE.AWARDS PROGRAM -NACUBO RECOGNIZES INSTITUTIONAL AND INDIVIDUAL EXCELLENCE THROUGH ITS AWARDS PROGRAM. THESE AWARDS WERE PRESENTED TO INDIVIDUALS WHO SHOWED OUTSTANDING ACHIEVEMENT AND EXEMPLARY PERFORMANCE IN THE AREAS OF FINANCIAL MANAGEMENT, ENDOWMENT MANAGEMENT, PROFESSIONAL DEVELOPMENT AND MORE. INSTITUTIONS WERE RECOGNIZED THAT DEMONSTRATED INNOVATION IN THE AREAS OF PROCESS IMPROVEMENT AND RESOURCE ENHANCEMENT. 217416 649543 PUBLICATIONS AND OTHER PRODUCTSNATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERSPUBLICATIONS REMAIN A SOURCE OF PROFESSIONAL INFORMATION FOR MEMBERS. CIRCULATION OF THE MONTHLY BUSINESS OFFICER MAGAZINE HAS GROWN TO 27,800. NACUBO SELLS APPROXIMATELY 48 PUBLICATION TITLES, INCLUDING FOUR ANNUAL SUBSCRIPTION SERVICES. 8942002 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 47 0 1 51 1 1 1 0 0 0 0 0 0 0 0 0 X 23 22 0 0 0 0 1 0 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X ELBERT OUZTS 2028612500 1110 VERMONT AVENUE NW NO 800 WASHINGTON DC 20005 JOHN WALDA 50.00 X X 490648 0 51063 RUTH CONSTANTINE 1.00 X X 0 0 0 CHARLES A TEGEN 1.00 X X 0 0 0 MARY L HERRIN 1.00 X X 0 0 0 CYNTHIA TENIENTE-MATSON 1.00 X X 0 0 0 ROGER V BRUSZEWSKI 1.00 X 0 0 0 KENNETH CODY 1.00 X 0 0 0 ROBERT DIXON 1.00 X 0 0 0 ANTIONE M GARIBALDI 1.00 X 0 0 0 RANDALL G GENTZLER 1.00 X 0 0 0 THOMAS H GIBSON 1.00 X 0 0 0 GREGG GOLDMAN 1.00 X 0 0 0 PHILIP J HANLON 1.00 X 0 0 0 CHARLES INGRAM 1.00 X 0 0 0 LYNN C COLEMAN 1.00 X 0 0 0 HENRY E DEVRIES II 1.00 X 0 0 0 LINDA S MCCORMICK 1.00 X 0 0 0 DANIEL D MORRIS 1.00 X 0 0 0 RONALD L RHAMES 1.00 X 0 0 0 DAWN RHODES 1.00 X 0 0 0 ROGER W STACKPOOLE 1.00 X 0 0 0 WILLIAM B STEPHAN 1.00 X 0 0 0 MICHAEL T UNEBASAMI 1.00 X 0 0 0 WILLIAM DILLON 50.00 X 188881 0 41695 MATT HAMIL 50.00 X 185095 0 31577 ELBERT OUZTS 50.00 X 142919 0 30312 MARTA PEREZ-DRAKE 50.00 X 143675 0 25170 SUE MENDITTO 50.00 X 135767 0 26655 ANNE GROSS 50.00 X 125908 0 27250 1412893 0 233722 7 0 1 0 MINDSHIFT TECHNOLOGIES INC 307 WAVERLEY OAKS RD 201 WALTHAM MA 02452 IT SERVICES 320474 AUGUST JACKSON COMPANY 7475 WISCONSIN AVENUE SUITE 640 BETHESDA MD 20814 AV PRODUCTION 300200 ON24 201 THIRD STREET SUITE 300 SAN FRANCISCO CA 94103 TECH SUPPORT 183233 SHERIDAN MAGAZINES 21800 BEAUMEADE CIRCLE ASHBURN VA 20147 PRINTING 161323 AVECTRA 7901 JONES BRANCH DRIVE 5TH FLOOR MCLEAN VA 22102 CONSULTING MEMBERSHIP DATABASE 142525 7 320129 320129 MEMBERSHIP DUES 900099 6762337 6762337 CONFERENCES, WORKSHOPS 900099 4726738 4125238 601500 ADVERTISING 541800 758292 3000 755292 JOB BANK 900099 118412 118412 12365779 153874 153874 903529 871207 32322 32322 32322 659369 9826 649543 649543 CONSULTING FEES 900099 39419 39419 SUBSCRIBER FEES REVENU 900099 700 700 98428 98428 138547 13660194 11540818 755292 1043955 1011730 194445 812519 4766 2773695 2026167 687038 60490 525100 345944 168853 10303 1048969 644957 385230 18782 280089 167835 107324 4930 60029 60029 30244 313 29931 2026109 1486891 539218 122932 113091 8824 1017 644740 299919 344705 116 2576 243 2333 1027456 56611 970845 593501 415013 175485 3003 536124 524789 11335 171 171 255784 255784 78548 16048 62500 990T/UBIT/FEDERAL & DC 45658 45658 FOOD/ BEVERAGES 1166370 1081483 84637 250 PUBLICATIONS - PRINTING 438755 436758 693 1304 CONTRIBUTION EXPENSE 42715 32718 9997 0 135885 1053119 -963472 46238 12847180 8942002 3753979 151199 500 500 4438455 6784409 275911 423692 125593 114424 1240512 914524 3671145 2549791 1223530 1121354 6202428 6426488 13506929 15785391 1316086 1706791 5783294 7310305 1204022 1143818 8303402 10160914 X 4804979 5572678 350048 3299 48500 48500 5203527 5624477 13506929 15785391 X 813014 -392064 X 0 1 1 X 0 X 260361 751952 246189 280959 320129 1859590 12134424 12341103 11933887 12115066 11492075 60016555 12394785 13093055 12180076 12396025 11812204 61876145 0 477763 10540 6008 25431 519742 477763 10540 6008 25431 519742 61356403 449814 214195 128539 175049 153874 1121471 1060780 710134 675657 704239 755292 3906102 1510594 924329 804196 879288 909166 5027573 40853 184474 184972 123857 216840 750996 13946232 14201858 13169244 13399170 12938210 67654714 0.90690 0.90150 0.07430 0.08170 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 44712 44712 12651219 12695931 784797 196199 0 0 822275 805446 752356 784797 3164874 4747311 13635 40923 25590 44712 124860 205569 201362 188089 196199 791219 1186829 1326363 641647 684716 717513 581855 135658 1627269 1326289 300980 1121354 DEFERRED LEASE LIABILITY 1077874 CAPITAL LEASE OBLIGATIONS 65944 1143818 13660194 12847180 813014 -392064 -392064 420950 13587956 -392064 310000 9826 -72238 13660194 0 13660194 13167003 310000 9823 319823 12847180 0 12847180 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS IS EXEMPT FROM THE PAYMENT OF TAXES ON INCOME OTHER THAN NET UNRELATED BUSINESS INCOME UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS RECEIVED UNRELATED BUSINESS INCOME FROM ADVERTISING REVENUE THAT IS SUBJECT TO THE UNRELATED BUSINESS INCOME TAX. INCOME TAX EXPENSE OF APPROXIMATELY $45,658 AND $52,100 HAS BEEN PROVIDED FOR IN THE YEARS ENDED MAY 31, 2012 AND 2011, RESPECTIVELY, AND IS INCLUDED IN ADMINISTRATION EXPENSE IN THE ACCOMPANYING STATEMENTS OF ACTIVITIES. NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS FOR THE YEARS ENDED MAY 31, 2012 AND 2011, AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS OR THAT MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. AS OF MAY 31, 2012, THE STATUTE OF LIMITATIONS FOR TAX YEARS 2008 THROUGH 2010 REMAINS OPEN WITH THE U.S. FEDERAL JURISDICTION OR THE VARIOUS STATES AND LOCAL JURISDICTIONS IN WHICH NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS FILES TAX RETURNS. IT IS NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS' POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, IN INCOME TAX EXPENSE. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 9,826. PART XIII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 9,823. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 JOHN WALDA 486718 0 0 0 3930 0 0 0 51063 0 541711 0 0 0 WILLIAM DILLON 185071 0 0 0 3810 0 0 0 41695 0 230576 0 0 0 MATT HAMIL 184405 0 0 0 690 0 0 0 31577 0 216672 0 0 0 ELBERT OUZTS 142638 0 0 0 281 0 0 0 30312 0 173231 0 0 0 MARTA PEREZ-DRAKE 143392 0 0 0 283 0 0 0 25170 0 168845 0 0 0 SUE MENDITTO 134635 0 0 0 1132 0 0 0 26655 0 162422 0 0 0 ANNE GROSS 124865 0 0 0 1043 0 0 0 27250 0 153158 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS MARTHA WALDA, PRESIDENT'S WIFE, AIRLINE COSTS, $7,692 - INCLUDIBLE IN MR. JOHN D. WALDA'S INCOME FORM 990, PART VI, SECTION A, LINE 6 NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS HAS THE FOLLOWING TYPES OF MEMBERS: REGULAR, ASSOCIATE, PROVISIONAL, SUBSCRIBER, AFFILIATE, GOVERNING BOARD AND STUDENT/RETIREE. FORM 990, PART VI, SECTION A, LINE 7B DUES INCREASES ARE SUBJECT TO MEMBER APPROVAL. FORM 990, PART VI, SECTION B, LINE 11 THE FINANCE AND AUDIT COMMITTEE WILL REVIEW AND APPROVE THE 990 BEFORE IT IS FILED. THE ENTIRE BOARD WILL BE PROVIDED ACCESS TO REVIEW THE 990 BEFORE THE 990 IS FILED. FORM 990, PART VI, SECTION B, LINE 12C EACH EMPLOYEE HAS A DUTY TO PLACE NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS' INTERESTS FOREMOST IN ANY PERSONAL DEALINGS WITH NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS AND HAS A CONTINUING RESPONSIBILITY TO COMPLY WITH THE REQUIREMENTS OF THIS POLICY. THE CONDUCT OF PERSONAL BUSINESS BETWEEN ANY EMPLOYEE AND NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS IS PROHIBITED WITHOUT WRITTEN APPROVAL OF THE PRESIDENT AND CHIEF EXECUTIVE OFFICER OF NACUBO, AFTER FULL DISCLOSURE BY THE EMPLOYEE. EACH EMPLOYEE MUST SIGN THE CONFLICT OF INTEREST DISCLOSURE STATEMENT FOR PURPOSES OF PROVIDING THE EMT WITH THE INFORMATION NEEDED TO IMPLEMENT THIS POLICY. EMPLOYEE DISCLOSURE STATEMENTS WILL BE REVIEWED BY THE NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS PRESIDENT, WHO WILL RESOLVE ANY ACTUAL OR POTENTIAL CONFLICT(S). EACH EMPLOYEE SHALL ANNUALLY SIGN A DISCLOSURE STATEMENT WHICH AFFIRMS THAT SUCH PERSON: A. HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, B. HAS READ AND UNDERSTANDS THE POLICY, C. HAS AGREED TO COMPLY WITH THE POLICY. THE DISCLOSURE STATEMENT WILL ALSO PROVIDE AN OPPORTUNITY TO DISCLOSE OR DISCLAIM SPECIFIC FINANCIAL INTERESTS. THIS POLICY APPLIES TO THE BOARD OF DIRECTORS AS WELL AS ALL EMPLOYEES. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS WAS DONE FOR THE PRESIDENT IN MAY 2011. THE PROCESS WAS DONE FOR THE EXECUTIVE MANAGEMENT TEAM IN MAY 2011. INCREASES FOR BOTH WERE EFFECTIVE FOR FISCAL YEAR 2012. THE ORGANIZATION USES AN INDEPENDENT COMPENSATION CONSULTANT AND COMPENSATION SURVEYS AND STUDIES TO DETERMINE THE APPROPRIATE COMPENSATION AMOUNTS. ONCE APPROVED BY THE COMPENSATION COMMITTEE, A WRITTEN EMPLOYMENT CONTRACT IS WRITTEN FOR THE PRESIDENT/CEO AND THE EXECUTIVE MANAGEMENT TEAM. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC VIA ITS WEBSITE. IT DOES NOT MAKE ITS CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -392,064.