2012-04-16T10:41:15-05:00 2011-05-31 BAKER TILLY VIRCHOW KRAUSE LLP 115 SOUTH 84TH STREET SUITE 400 MILWAUKEE WI 53214 990 2010-06-01 420680351 WARTBURG COLLEGE WART 3193528276 100 WARTBURG BLVD WAVERLY IA 50677 GARY S GRACE 3193528276 2012-04-16 1 TROY E MARINE CPA 4147775500 2012-04-16 2010 2016-02-24 21:20:13Z DARREL D COLSON 100 WARTBURG BLVD WAVERLY IA 50677 76456804 0 X WWW.WARTBURG.EDU X 1852 IA UNDERGRADUATE HIGHER EDUCATION THAT CHALLENGES AND NURTURES STUDENTS FOR LIVES OF LEADERSHIP AND SERVICE AS A SPIRITED EXPRESSION OF THEIR FAITH AND LEARNING. 26 24 2107 500 234846 0 4143943 4935802 61857708 64468554 3357026 1744691 2659946 2712199 72018623 73861246 22696017 24332842 0 0 25514295 26215653 0 0 1656962 24446993 24255532 72657305 74804027 -638682 -942781 173940698 182083943 97193658 97393665 76747040 84690278 UNDERGRADUATE HIGHER EDUCATION THAT CHALLENGES AND NURTURES STUDENTS FOR LIVES OF LEADERSHIP AND SERVICE AS A SPIRITED EXPRESSION OF THEIR FAITH AND LEARNING. 0 0 41555247 24332842 49699799 INSTRUCTION OF STUDENTS ENROLLED AND THE RELATED ACADEMIC SUPPORT; 1,746 AND 1,678 FULL-TIME EQUIVALENT STUDENTS ENROLLED FOR THE FALL 2010 AND WINTER 2011 TERMS RESPECTIVELY. 8254106 14564854 AUXILIARY ENTERPRISES SUPPORTS STUDENTS LIVING AND EATING ON CAMPUS AS WELL AS PROVIDING BOOKS. THERE WERE 1,376 AND 1,343 STUDENTS LIVING ON CAMPUS FOR THE FALL 2010 AND WINTER 2011 TERMS, RESPECTIVELY. 10768030 2682025 ALL OTHER PROGRAM RELATED SERVICES 60577383 1 1 0 1 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 1 0 0 0 0 1 2360 0 1 2107 1 1 1 0 0 0 0 0 0 0 0 0 X 26 24 0 0 1 0 0 0 0 1 1 0 0 0 1 1 1 1 0 1 0 0 X RICHARD SEGGERMAN 3193528215 100 WARTBURG BLVD WAVERLY IA 506772215 ANDREA WESTMEYER 0.10 X 0 0 0 BISHOP STEVEN ULLESTAD 0.10 X 0 0 0 DOROTHY BOWEN 0.10 X 0 0 0 DR GIL WESSEL 0.10 X 0 0 0 DR GRADY BALLENGER 0.10 X 0 0 0 DR HANS-PETER BRODHUN 0.10 X 0 0 0 DR MARILYN FLACHMAN 0.10 X 0 0 0 FRED HAGEMANN 0.10 X 0 0 0 GARY HOOVER 0.10 X 0 0 0 GUNTER SCHUCHARDT 0.10 X 0 0 0 JACK SALZWEDEL 0.10 X 0 0 0 JIM LOVERIDGE 0.10 X 0 0 0 JOANN KILGUS 0.10 X 0 0 0 JON VOLKERT 0.10 X 0 0 0 LIZ MATHIS 0.10 X 0 0 0 LOIS O'ROURKE 0.10 X 0 0 0 MARK BALDWIN 0.10 X 0 0 0 MIKE MCCOY 0.10 X 0 0 0 RACHEL RIENSCHE 0.10 X 0 0 0 RACHELLE JOHNSON 0.10 X 0 0 0 RAY MCCASKEY 0.10 X 0 0 0 ROBERT SEVERSON 0.10 X 0 0 0 RUTH BAHE-JACHNA 0.10 X 0 0 0 SHON COOK 0.10 X 0 0 0 SHERMAN HICKS 0.10 X 0 0 0 DARREL COLSON 40.00 X X 226674 0 44836 DEBORAH LOERS 40.00 X 107769 0 25635 EDITH WALDSTEIN 40.00 X 123469 0 17890 FEROL J MENZEL 40.00 X 135570 0 14429 GARY GRACE 40.00 X 120608 0 23746 RICHARD SEGGERMAN 40.00 X 80938 0 22980 SCOTT LEISINGER 40.00 X 121553 0 17888 916581 0 167404 6 0 1 0 SCHNEIDER ELECTRIC PO BOX 841868 DALLAS TX 758241868 ELECTRICAL CONTRACTING 569537 RUFFALOCODY 221 3RD AVENUE SE SUITE 10 CEDAR RAPIDS IA 524063018 ENROLLMENT MANAGEMENT CONSULTANT 324052 FBG SERVICE CORPORATION 407 S 27TH AVE PO BOX 2715 OMAHA NE 68103 CLEANING SERVICES 216556 WAVERLY HEALTH CENTER 312 9TH ST SW WAVERLY IA 50677 HEALTH SERVICES 197330 HAWKEYE STAGES 703 DUDLEY STREET DECORAH IA 52101 BUS CHARTER 180745 7 432439 4503363 236187 4935802 TUITION & FEES 900099 49699799 49699799 AUXILIARY ENTERPRISES 541900 14768755 14568064 200691 64468554 697318 697318 374685 374685 113459 69791 43668 43668 43668 3198455 2498184 27583 700271 -27583 672688 672688 OTHER PROGRAM RELATED 541900 2488106 2331854 156252 COPY CENTER INCOME 561439 27521 27521 STUDENT CENTER INCOME 561439 6634 6634 146270 146270 2668531 73861246 66745987 234846 1944611 24332842 24332842 1075326 284491 598291 192544 18602341 16573637 1426801 601903 1223366 1075795 93832 53739 4021626 3562479 308459 150688 1292994 1141168 99173 52653 35999 35999 127285 127285 835643 451763 64094 319786 200744 185013 15397 334 1552731 1324396 119094 109241 918095 550857 367238 1999879 1846488 153391 1260490 1016011 96680 147799 16544 15275 1269 4690160 4690160 4107230 4107230 534547 493544 41000 3 FOOD PURCHASES & BOOKST 2798549 2798549 CAMPUS GROUPS & MAY TER 2253397 2253397 SERVICE AGREEMENTS 791073 729278 60675 1120 REPAIRS AND MAINTENANCE 677868 625347 51993 528 PROFESSIONAL DEVELOPMEN 654165 583943 50174 20048 801133 733110 61447 6576 74804027 60577383 12569682 1656962 5587113 6709019 3300000 2400000 1084827 1200707 3228871 3265333 276641 313964 393122 477768 139844570 39552432 103693353 100292138 32703392 40413753 20562482 22636799 3110897 4374462 173940698 182083943 5010108 5444180 2939852 2953449 49584 146279 84740800 84200826 4453314 4648931 97193658 97393665 X 35497940 37742044 8790834 12281395 32458266 34666839 76747040 84690278 173940698 182083943 X -942781 8886019 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 1 122158 0 0 0 122158 0 EXPLANATION OF OTHER LOBBYING ACTIVITIES: PART II-B, LINE 1I: THE COLLEGE PAYS MEMBERSHIP DUES TO VARIOUS ORGANIZATIONS, SOME PORTION OF WHICH MAY BE USED FOR LOBBYING IN CONNECTION WITH ISSUES THAT IMPACT HIGHER EDUCATION. THE COLLEGE ALSO PAYS A CONSULTING FIRM THAT CONDUCTS LOBBYING AND REVIEWS APPROPRIATE GRANT AND OTHER FUNDING OPPORTUNITIES ON BEHALF OF THE COLLEGE. 50700 X X 0 40182889 2100248 8732948 621036 1204628 49190421 36575945 693726 4798095 647681 1237196 40182889 50105268 4626170 -16233325 650680 1271488 36575945 0.34000 0.66000 0.00000 0 0 16300 3615780 3632080 115536603 26678238 88858365 11285092 8657934 2627158 9390795 4216260 5174535 100292138 CSV - LIFE INSURANCE 2277809 F OTHER 388915 F COMMINGLED TRUST FUNDS 9975186 F FUND OF HEDGE FUNDS 3548160 F GUARANTEED INVESTMENT CONTRACTS 6446729 F 22636799 STUDENT DEPOSITS 1035415 ANNUITIES PAYABLE 2935652 DEPOSITS HELD IN CUSTODY 186864 ASSET RETIREMENT OBLIGATION 491000 4648931 73861246 74804027 -942781 8886019 8886019 7943238 58470698 8886019 -24332842 -15446823 73917521 -56275 -56275 73861246 50527460 56275 56275 50471185 24332842 24332842 74804027 PART III, LINE 4: THE COLLEGE DOES NOT HAVE A SIGNIFICANT ART COLLECTION. THE ITEMS THAT ARE HELD ARE USED FOR EDUCATIONAL PURPOSES IN VARIOUS COURSES AND FOR THE BENEFIT OF THE GENERAL PUBLIC. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE COLLEGE'S ENDOWMENT FUNDS ARE USED TO SUPPORT THE EDUCATIONAL AND OTHER SUPPORT SERVICES PROVIDED TO THE STUDENT BODY. PART XII, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -24,332,842. PART XII, LINE 4B - OTHER ADJUSTMENTS: ACTUARIAL ADJUSTMENTS - GAIN 41,099. LOSS ON DISPOSAL OF PLANT ASSETS -27,583. RENTAL EXPENSES -69,791. PART XIII, LINE 2D - OTHER ADJUSTMENTS: ACTUARIAL ADJUSTMENTS - GAIN -41,099. LOSS ON DISPOSAL OF PLANT ASSETS 27,583. RENTAL EXPENSES 69,791. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 24,332,842. SCHEDULE D, PART X, LINE 2 - THE COLLEGE FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THE 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, 2011. 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 THE COLLEGE FOLLOWS A NONDISCRIMINATORY POLICY REGARDING ALL PROGRAMS. ENROLLMENT OF STUDENTS IS WITHOUT DISCRIMINATION AS TO RACE, SEX, COLOR, SEXUAL ORIENTATION, HANDICAP, OR NATIONAL ORIGIN AND IS PUBLISHED IN THE COLLEGE'S CATALOG, AND THE COLLEGE'S WEBSITE. RECRUITMENT PROCEDURES ARE DESIGNED AND CARRIED OUT TO REACH ALL RACIAL SEGMENTS IN THE GEOGRAPHICAL AREA SERVED BY THE COLLEGE. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FINANCIAL ASSISTANCE FROM THE U.S. GOVERNMENT IN CONNECTION WITH VARIOUS PROGRAMS SUCH AS THE PELL GRANT PROGRAM, ACADEMIC COMPETITIVENESS GRANT PROGRAM, NATIONAL SCIENCE AND MATHEMATICS ACCESS TO RETAIN TALENT GRANT PROGRAM, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (SEOG), FEDERAL WORKSTUDY PROGRAM AND FEDERAL PERKINS LOAN PROGRAM. THE COLLEGE ALSO RECEIVES SUPPORT FROM THE STATE OF IOWA THROUGH THEIR TUITION GRANT PROGRAM AND OTHER RELATED STATE PROGRAMS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES INSTRUCTION 82322 EAST ASIA & PACIFIC 0 0 PROGRAM SERVICE SEE PART V 57465 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 PROGRAM SERVICES SEE PART V 99282 NORTH AMERICA (INCLUDING CANADA AND MEXICO BUT NOT THE UNITED STATES) 0 0 PROGRAM SERVICE SEE PART V 25454 SOUTH AMERICA 0 0 PROGRAM SERVICES INSTRUCTION 1125 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICE SEE PART V 58249 0 0 0 0 0 0 323897 0 323897 0 0 0 0 0 0 OTHER INFORMATION SCHEDULE F, PART V SCHEDULE F, PART I, LINE 3 - COLUMN (E): LINE 2 - INSTRUCTION AND STUDENT SERVICES; LINE 3 - ACADEMIC SUPPORT, INSTRUCTION, PUBLIC SERVICE AND STUDENT SERVICES; LINE 4 - ACADEMIC SUPPORT, INSTRUCTION AND STUDENT SERVICES; LINE 6 - INSTRUCTION AND PUBLIC SERVICE 1 INSTITUTIONAL SCHOLARSHIPS AND GRANTS 1685 879494 23297603 TUITION DISCOUNTING INSTITUTIONAL SCHOLARSHIPS AND GRANTS ARE USED AS A DIRECT REDUCTION OF THE TUITION THAT EACH FULL-TIME STUDENT IS REQUIRED TO PAY. SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT 332 155745 0 FAIR MARKET VALUE SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT (SEOG) IS A FEDERAL GRANT THAT IS AWARDED BY THE COLLEGE TO QUALIFIED STUDENTS IN ORDER TO REDUCE THE COST THE STUDENT MUST PAY FOR THEIR EDUCATION. PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE COLLEGE PROVIDES GRANTS AND SCHOLARSHIPS TO ITS FULL-TIME, DEGREE SEEKING STUDENTS, BY CREDITING SUCH AMOUNTS DIRECTLY TO THEIR STUDENT ACCOUNTS, TO BE ONLY USED AS AN OFFSET FOR TUITION. X X X 1 1 X X X 0 1 0 0 0 0 0 0 0 DARREL COLSON 218948 0 0 0 7726 0 31500 0 13336 0 271510 0 0 0 SUPPLEMENTAL INFORMATION PART III SCHEDULE J, PART I, LINE 4 - THE COLLEGE HAS A CODE SECTION 457(F) DEFERRED COMPENSATION AGREEMENT WITH PRESIDENT COLSON. UNDER THE AGREEMENT, THE COLLEGE MAINTAINS A DEFERRED COMPENSATION ACCOUNT THAT CONSIDERS AN APPROPRIATE PERCENTAGE OF THE PRESIDENT'S SALARY, AS WELL AS RELATED EARNINGS(LOSSES). THE AMOUNTS CREDITED TO SUCH AN ACCOUNT BECOME FULLY VESTED WITH THE PRESIDENT ON THE EARLIEST OF (1) THE DATE THE PRESIDENT REACHES AGE 57, (2) THE DATE THE PRESIDENT TERMINATES EMPLOYMENT DUE TO DISABILITY, (3) THE DATE OF THE PRESIDENT'S DEATH, OR (4) THE DATE OF THE PRESIDENT'S INVOLUNTARY TERMINATION OF EMPLOYMENT (IN WHICH CASE THE PRESIDENT FORFEITS THE ENTIRE VALUE OF THE ACCOUNT). IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 462460VZ6 2005-12-29 49918166 SEE PART V 0 0 0 IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 462460VY9 2005-12-29 36706381 SEE PART V 0 0 0 1445000 50055357 3326806 45735664 992887 2005 0 1 1 1 35000 39024815 3198157 3552458 734128 31540072 2008 0 0 1 1 0 0 0 0 0 0 1 0 0 1 0.01500 0.00000 0.01500 1 0 0 0 1 ROYAL BANK OF CANADA 5.000000000000 1 0 0 0 0 0 1 ROYAL BANK OF CANADA 5.000000000000 1 0 0 SCHEDULE K, PART 1, COLUMN F - LINE A THE 2005 SERIES A BOND PROCEEDS WERE USED TO ADVANCE REFUND THE 2002 (7/10/02) BONDS. SCHEDULE K, PART 1, COLUMN F - LINE B THE 2005 SERIES B BOND PROCEEDS WERE USED TO FINANCE THE COST OF ACQUIRING, CONSTRUCTING, IMPROVING, AND EQUIPPING THE WELLNESS CENTER, TO PAY CAPITALIZED INTEREST DURING CONSTRUCTION OF THE WELLNESS CENTER, AND TO FUND THE SERIES B DEBT SERVICE RESERVE FUND. SCHEDULE K, PART II, LINE 3 THE TOTAL PROCEEDS DO NOT AGREE TO THE ISSUE PRICE IN PART I, COLUMN (E) DUE TO INVESTMENT EARNINGS. SCHEDULE K, PART IV, LINE 4B COLUMN A: RESERVE FUND - ROYAL BANK OF CANADA, ESCROW FUND - MBIA, INC; COLUMN B: CONSTRUCTION FUND - MORGAN STANLEY, RESERVE FUND - ROYAL BANK OF CANADA, CAPITALIZED INTEREST FUND - MORGAN STANLEY SCHEDULE K, PART IV, LINE 4C COLUMN A: RESERVE FUND - 5 YEARS, ESCROW FUND - 6.8 YEARS; COLUMN B: CONSTRUCTION FUND - 2.4 YEARS, RESERVE FUND - 5 YEARS, CAPITALIZED INTEREST FUND - 2.4 YEARS DISCLOSURE SUBJECT TO FERPA LAWS MERIT SCHOLARSHIPS DISCLOSURE SUBJECT TO FERPA LAWS TUITION REMISSION ME & V PARTIAL OWNER IS A FAMILY MEMBER OF LIZ MATHIS, REGENT. 142156 MARKETING AND ADVERTISING SERVICES PROVIDED IN THE ORDINARY COURSE OF BUSINESS. FEES CHARGED ARE NORMAL AND REASONABLE FOR THE SERVICES PROVIDED. LIZ MATHIS HAS NO CONTROL OVER ME & V 0 FRED WALDSTEIN FAMILY MEMBER OF EDITH WALDSTEIN, VICE PRESIDENT OF ENROLLMENT MANAGEMENT 98215 EMPLOYED AS FACULTY; PROFESSOR OF POLITICAL SCIENCE. REPORTS TO THE VICE PRESIDENT FOR ACADEMIC AFFAIRS. FAMILY MEMBER EDITH WALDSTEIN, VICE PRESIDENT FOR ENROLLMENT MANAGEMENT, HAS NO CONTROL OVER FACULTY COMPENSATION OR GOVERNANCE. 0 X 30000 MARKET VALUE X 16 186543 AVG HI/LOW DATE OF GIFT X 1 5652 MARKET VALUE X 1 10895 VAL. AT TIME OF DONATION X HARVESTED CROPS 2 3097 AVG HI/LOW ON DATE OF GIFT 0 1 0 FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS WERE AMENDED TO MAKE THE AUDIT COMMITTEE A STANDALONE COMMITTEE OF THE BOARD OF REGENTS. AUDIT WAS PREVIOUSLY A SUBCOMMITTEE OF THE BUSINESS AND FINANCE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11 THE COLLEGE USES SPECIALIZED 990 TAX FORM SOFTWARE TO PROCESS INITIAL INFORMATION AND PRODUCE A PRELIMINARY FORM 990 TAX RETURN. THE PRELIMINARY RETURN IS THEN PROVIDED TO THE AUDIT FIRM ALONG WITH OTHER REQUESTED INITIAL INFORMATION. THE AUDIT FIRM THEN USES SPECIALIZED PROPRIETARY 990 TAX FORM SOFTWARE TO PERFORM DIAGNOSTICS AND PROCESS THE INFORMATION PROVIDED BY THE COLLEGE. THIS MULTIPLE LAYER OF PROCESSING RESULTS IN ADDITIONAL DIAGNOSTICS AND CHECKS FOR ADDITION AND BALANCING OF SUPPORTING SCHEDULES TO MORE SUMMARIZED AMOUNTS. THE AUDIT FIRM THEN PREPARES A DRAFT OF THE FORM 990 BASED ON INFORMATION PROVIDED TO THEM AND THEIR KNOWLEDGE OF HOW TO COMPLETE THE 990. AFTER RECEIVING THE DRAFT FORM 990 FROM THE AUDIT FIRM, PERSONNEL FROM THE BUSINESS OFFICE REVIEW THE DRAFT, RECONCILING INFORMATION BACK TO SUPPORTING WORK PAPERS WHERE POSSIBLE AND REVIEWING OTHER INFORMATION FOR COMPLETENESS, ACCURACY, CONSISTENCY, AND REASONABLENESS. NEXT, THE PRESIDENT'S CABINET AND THE BOARD'S AUDIT COMMITTEE MEMBERS REVIEW THE DRAFT OF THE FORM 990 FOR COMPLETENESS, ACCURACY, CONSISTENCY, AND REASONABLENESS. FEEDBACK FROM ALL REVIEW IS FORWARDED TO THE AUDIT FIRM, AND THE FORM 990 IS UPDATED ACCORDINGLY. A COPY OF THE FORM 990 (WITH DONOR NAMES REMOVED) IS POSTED TO THE SECURE, CONFIDENTIAL BOARD OF REGENTS WEB SITE, AND AN EMAIL IS SENT TO ALL BOARD MEMBERS NOTIFYING THEM THAT THE 990 IS AVAILABLE FOR REVIEW. FEEDBACK PROVIDED FROM THE BOARD MEMBERS IS REVIEWED AND DISCUSSED WITH INDIVIDUAL BOARD MEMBERS AS NECESSARY AND APPROPRIATE. ALL FEEDBACK THAT REQUIRES A SIGNIFICANT CHANGE TO THE FORM 990 IS PROVIDED IN A SUMMARY FASHION TO ALL BOARD MEMBERS, TO ALLOW ADDITIONAL FEEDBACK OR COMMENTS. THE FINAL APPROVED FEEDBACK IS GIVEN TO THE AUDIT FIRM TO INCORPORATE IN THE FINAL FORM 990. THE BOARD RECEIVES THE FINAL FORM 990 PRIOR TO IT BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED, UPDATED, AND APPROVED ANNUALLY BY THE BOARD. BOARD MEMBERS AND KEY EMPLOYEES ARE REMINDED OF THEIR RESPONSIBILITY TO FOLLOW THE CONFLICT OF INTEREST POLICY. BUSINESS OFFICE PERSONNEL ARE FAMILIAR WITH THE VENDORS USED BY THE COLLEGE AND WOULD FOLLOW THE CONFLICT OF INTEREST POLICY IF THERE WERE ANY POTENTIAL TRANSACTIONS THAT WOULD FALL WITHIN THE SCOPE OF THAT POLICY. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF REGENTS ESTABLISHES COMPENSATION FOR THE PRESIDENT INITIALLY AND ANNUALLY, APPLYING ALL ELEMENTS NOTED IN THIS LINE'S QUERY. THE COMPARATOR GROUP IS LIMITED TO LIBERAL ARTS COLLEGES WITH COMPARABLE ENROLLMENTS, INCLUDING OTHER ELCA RELATED COLLEGES. THE PRESIDENT ESTABLISHES COMPENSATION FOR THE PRESIDENT'S CABINET INITIALLY AND ANNUALLY, APPLYING ALL ELEMENTS NOTED IN THIS LINE'S QUERY. THE COMPARATOR GROUP IS LIMITED TO LIBERAL ARTS COLLEGES WITH COMPARABLE ENROLLMENTS, INCLUDING OTHER ELCA-RELATED COLLEGES. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 8,886,019. MCELROY - WARTBURG LOAN FUND 100 WARTBURG BLVD WAVERLY IA 50677 421237616 PROVIDE STUDENT LOANS FOR POST SECONDARY EDUCATION. IA 501(C)(3) 2 WARTBURG COLLEGE 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 MCELROY - WARTBURG LOAN FUND R 205543 CASH - FMV