2012-04-16T15:49:18-07:00 2011-05-31 990 2010-06-01 060653264 CULINARY INSTITUTE OF AMERICA CULI 8454511478 1946 CAMPUS DRIVE HYDE PARK NY 12538 CHARLES O'MARA 8454511285 2012-03-26 2010 2016-02-24 21:20:13Z CHARLES A O'MARA 1946 CAMPUS DRIVE HYDE PARK NY 12538 159763154 0 X WWW.CIACHEF.EDU X 1946 NY COLLEGE DEDICATED TO PROVIDING OUR STUDENTS WITH THE WORLD'S BEST CULINARY EDUCATION 25 25 1152 1 0 0 10308089 17045933 131513294 139577843 2476849 2075755 328384 408785 144626616 159108316 16500487 19082812 0 0 66461792 69501298 0 0 2525580 50959961 54898515 133922240 143482625 10704376 15625691 303276038 326499267 139147257 137946973 164128781 188552294 COLLEGE DEDICATED TO PROVIDING OUR STUDENTS WITH THE WORLD'S BEST CULINARY EDUCATION 0 0 116738211 19082812 139577843 THE CULINARY INSTITUTE OF AMERICA IS A PRIVATE NOT FOR PROFIT COLLEGE DEDICATED TO PROVIDING THE WORLD'S BEST PROFESSIONAL CULINARY EDUCATION. EXCELLENCE, LEADERSHIP, PROFESSIONALISM, ETHICS AND RESPECT FOR DIVERSITY ARE THE CORE VALUES THAT GUIDE OUR EFFORTS. WE TEACH OUR STUDENTS THE GENERAL KNOWLEDGE AND SPECIFIC SKILLS NECESSARY TO LIVE SUCCESSFUL LIVES AND TO GROW INTO POSITIONS OF INFLUENCE AND LEADERSHIP IN THEIR CHOSEN PROFESSION. 0 0 0 116738211 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 1 1 0 0 0 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 261 0 1 1152 1 0 1 BD SN 0 0 0 1 1 0 0 0 0 0 0 X 25 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA NY TX X STEVEN STROM 8454511552 1946 CAMPUS DRIVE HYDE PARK NY 12538 ROBERT BERENSON 1.15 X 0 0 0 ELIZABETH BLAU 1.15 X 0 0 0 RICHARD BRADLEY 1.15 X 0 0 0 FRED CARL JR 1.15 X 0 0 0 CARLA COOPER 1.15 X 0 0 0 PATRICIA DAILEY 1.15 X 0 0 0 LORI DANIEL 1.15 X 0 0 0 JAMES DOHERTY 1.15 X 0 0 0 LORNA DONATONE 1.15 X 0 0 0 FRANK J FAHRENKOPF JR 1.15 X 0 0 0 MICHAEL S KAUFMAN 1.15 X 0 0 0 THOMAS KELLER 1.15 X 0 0 0 TAKESHI KOHJIMA 1.15 X 0 0 0 JON LUTHER 1.15 X 0 0 0 ARTHUR MAXWELL 1.15 X 0 0 0 RICHARD MAZER 1.15 X 0 0 0 CHARLES MERINOFF II 1.15 X 0 0 0 CAMERON M MITCHELL 1.15 X 0 0 0 ROBERT MUH 1.15 X 0 0 0 CHARLES PALMER 1.15 X 0 0 0 MELINDA R RICH 1.15 X 0 0 0 HAROLD O ROSSER 1.15 X 0 0 0 MARTIN P SUTTER 1.15 X 0 0 0 ROY YAMAGUCHI 1.15 X 0 0 0 LAWRENCE T RYAN 37.5 X 543126 0 106010 MARK ERICKSON 37.5 X 299402 0 81114 PETER RAINSFORD 37.5 X 296084 0 73513 BRUCE HILLENBRAND 37.5 X 280495 0 73886 CHARLES A OMARA 37.5 X 256793 0 54448 NANCY HARVIN 37.5 X 195000 0 54528 DAVE JASKIEWICZ 37.5 X 176411 0 53154 DRUSILLA BLACKMAN 37.5 X 162694 0 57218 RICHARD MIGNAULT 37.5 X 108719 0 21631 CHARLES HENNING 37.5 X 201825 0 43572 VICTOR GIELISSE 37.5 X 204090 0 44915 KATHY MERGET 37.5 X 169290 0 45549 BRADLEE BARNES 37.5 X 163600 0 31414 GREGORY DRESCHER 37.5 X 161647 0 45251 REUBEN KATZ 37.5 X 155015 0 31858 3374191 0 818061 86 0 1 0 Joeris General Contractors Construction Group San Antonio TX 78216 Construction 3721406 Sodexho 2555 Main Street St Helena CA 94574 Custodial Services 1978132 Ultramar Travel Management 707A 4th Street Santa Rosa CA 95404 Travel Agency 1209589 LCS Facility Group 381 Main Street Poughkeepsie NY 12601 Custodial Services 878814 Datatel Inc 4375 FAIR LAKES COURT Fairfax VA 22033 Information Technology Consultants 485244 32 0 0 411677 0 989364 15644892 709409 17045933 TUITION AND FEES 611310 124073646 124073646 0 0 EDUCATIONAL SERVICES 611310 10247455 10247455 0 0 BOOKSTORE/FOOD SALES 611710 4264335 0 0 4264335 PUBLISHING/ROYALTIES 611600 917857 0 0 917857 PLACEMENT/CAREER WEEKS 611310 74550 74550 0 0 0 0 0 0 139577843 1229644 0 0 1229644 0 0 0 0 0 0 0 0 52197 0 0 0 52197 0 52197 0 0 52197 991962 4174 150025 0 841937 4174 846111 0 0 846111 353334 411677 504813 -151479 0 -151479 0 0 0 0 0 0 CASH DISC. ON PURCHASES 900099 5212 0 0 5212 ALUMNI INCOME 900099 1645 0 0 1645 501210 0 0 501210 508067 159108316 134395651 0 7666732 0 0 19082812 19082812 0 0 0 0 3181296 929224 1998395 253677 0 0 0 0 49042682 39546143 8171732 1324807 3115415 2472023 563134 80258 10535797 8405585 1920408 209804 3626108 2891129 643792 91187 0 0 0 0 581628 43848 535937 1843 114300 0 114300 0 0 0 0 0 0 0 175520 0 175520 0 10534822 7764619 2560828 209375 1592896 509851 1077597 5448 3173683 2684240 462167 27276 979447 108489 870958 0 0 0 0 0 4265442 3449516 809160 6766 1938288 1394161 392632 151495 0 0 0 0 116555 68018 32637 15900 4414717 4010167 397873 6677 0 0 0 0 7796779 6292840 1412880 91059 675175 159033 516142 0 FOOD & BEVERAGE COSTS 9728203 9435339 282179 10685 STUDENT SUPPLIES 4258929 4258429 500 0 EQUIPMENT 1591437 1217727 366353 7357 NON FOOD COSTS OF GOODS SOLD 1317851 1229459 87267 1125 PRINTING/PUBLICATIONS 350679 207833 118668 24178 1292164 577726 707775 6663 143482625 116738211 24218834 2525580 7547919 3903149 11050571 11370264 6841209 7907200 2710794 3580531 0 0 0 0 1971893 2041058 2395188 2289134 1981123 1725094 289313638 99697886 188002693 189615752 65587595 88189131 1100000 1100000 14087053 14777954 303276038 326499267 6505840 6429288 1658066 1690880 15499010 16490404 101700000 98395000 0 0 0 0 0 0 0 0 13784341 14941401 139147257 137946973 X 128503264 142907016 12601367 22613615 23024150 23031663 164128781 188552294 303276038 326499267 X 15625691 8797822 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 72902870 9186359 12243586 1239517 0 0 93093298 65209048 564457 8553845 1424480 0 0 72902870 86567388 1873572 -21249091 1982821 0 0 65209048 0.63 0.25 0.12 0 0 0 7373865 7373865 0 222676116 52855282 169820834 0 0 0 0 0 56792505 46842604 9949901 0 2471152 0 2471152 189615752 10839877 F 76840405 F CAMBRIA LTD PARTNERSHIP 414112 F SECURITY DEPOSIT FOR INSURANCE TRUST 86737 F US SAVINGS BONDS 8000 F 88189131 LAND (DONATED) 1100000 F 1100000 DEPOSITS WITH BOND TRUSTESS 8312125 BOND ISSUANCE COSTS 4185540 OTHER RECEIVABLES 2280289 14777954 0 CURRENT VALUE OF DERIVATIVE 7928867 ACCRUED LIABILITIES 6402107 ANNUITY LIFE INCOME OBLIGATION 610427 14941401 159108316 143482625 15625691 9459711 440159 0 0 -1102048 8797822 24423513 149592777 9459711 440159 0 -19744701 -9844831 159437608 175521 -504813 -329292 159108316 125169264 440159 0 0 -19082812 -18642653 143811917 175521 -504813 -329292 143482625 SchD_P05_S00_L04 Schedule D, Part V, Line 4 THE INSTITUTE HAS A POLICY OF APPROPRIATING FOR DISTRIBUTION EACH YEAR A PERCENTAGE OF ITS ENDOWMENT FUND BASED ON THE FUND'S AVERAGE FAIR VALUE OVER THE PRIOR 12 QUARTERS. THE SPENDING RATE IS 5% FOR FISCAL YEAR 2010-2011. ENDOWNMENT SPENDING IS PRIMARILY USED, TO FUND STUDENT SCHOLARSHIPS AND SOME OPERATING EXPENDITURES. SchD_P10_S00_L02 Schedule D, Part X, Line 2 THE INSTITUTE HAS A TAX DETERMINATION LETTER DATED FEBRUARY 22, 1973, FROM THE INTERNAL REVENUE SERVICE STATING THAT IT QUALIFIES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE. THE INSTITUTE BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 DEPRECIATION IN FAIR VALUE OF DERIVATIVE ( $485,974) & BOND CONVERSION COSTS ON THE SERIES 2008 BONDS ( $ 175,915), RENTAL EXPENSE RECORDED RELATED TO THE SAN ANTONIO GIK LEASE ( $440,159). THE RENTAL EXPENSE EQUALS THE AMOUNT RECORDED AS REVENUE IN PARTXI, LINE 5 OF SCHEDULE D. THE RENTAL EXPENSE IS A NON-CASH ITEM. SchD_P12_S00_L02d Schedule D, Part XII, Line 2d SCHOLARSHIPS AND GRANTS TO STUDENTS ( $ 19,082,812)...DEPRECIATION IN FAIR VALUE OF DERIVATIVE ($485,974)...BOND CONVERSION COSTS-SERIES 2008 BONDS ( $175,915) SchD_P12_S00_L04b Schedule D, Part XII, Line 4b FUNDRAISING EVENT EXPENSES SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d SCHOLARSHIPS AND GRANTS TO STUDENTS SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b FUNDRAISING EVENT EXPENSES 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 RESPECT FOR DIVERSITY IS ONE OF THE INSTITUTE'S FIVE CORE VALUES. THE INSTITUTE'S RACIAL NONDISCRIMINATORY POLICY IS CLEARLY EXPRESSED ON ALL MATERIALS WHICH ARE USED IN THE SOLICITATION OF PROSPECTIVE STUDENTS. SchE_P01_S00_L06 Schedule E, Part I, Line 6 THE INSTITUTE RECEIVES VARIOUS FEDERAL FUNDS AND STATE GRANTS TO SUBSIDIZE THE STUDENT EDUCATIONAL COSTS. 1 East Asia and the Pacific 1 3 Program Services EXPENSES FOR A CULINARY EDUCATIONAL PROGRAM IN THE COUNTRY OF SINGAPORE 701019 Europe (including Iceland and Greenland) 0 0 Program Services INTERNATIONAL COURSES FOR STUDENTS MATRICULATED IN THE INSTITUTE'S FOUR YEAR BACHELOR'S PROGRAM STUDIES. AS PART OF THE STUDENT'S EDUCATIONAL EXPERIENCE, THEY ARE TAKEN ON A 3 WEEK TRIP TO EITHER SPAIN OR ITALY. 1387139 East Asia and the Pacific 0 0 Program Services INTERNATIONAL COURSES FOR STUDENTS MATRICULATED IN THE INSTITUTE'S FOUR YEAR BACHELOR'S PROGRAM STUDIES. AS PART OF THE STUDENT'S EDUCATIONAL EXPERIENCE, THEY ARE TAKEN ON A 3 WEEK TRIP TO CHINA 154300 Central America and the Caribbean 0 0 Investments INVESTMENT ACCOUNT IN BERMUDA 7524567 1 3 9767025 1 0 1 0 0 0 SchF_P01_S00_L02 Schedule F, Part I, Line 2 THE INSTITUTE IS PROVIDING ASSISTANCE TO IT'S SINGAPORE AFFILIATE, AND IT IS CONFIRMED THAT SUCH FUNDS ARE USED FOR EDUCATIONAL PURPOSES. GALA EVENTS 679280 392506 286774 0 0 205591 2523 1010 132831 OTHER EVENTS 85731 19171 66560 0 0 2297 65085 2500 92976 0 765011 411677 353334 0 0 207888 67608 3510 225807 504813 -151479 1 STUDENT SCHOLARSHIPS AND GRANTS. NUMBER OF RECIPIENTS IS ESTIMATED AS FOLLOWS; TOTAL NUMBER OF STUDENTS (2,214) X ESTIMATED PERCENTAGE OF STUDENTS WHO RECEIVE SCHOLARSHIPS AND GRANTS (90%). 1993 19082812 0 BASED ON TUITION COSTS SchI_P01_S00_L02 Schedule I, Part I, Line 2 WHEN DETERMINING THE DISTRIBUTION OF GRANTS AND LOANS TO STUDENTS, THE CULINARY INSTITUTE OF AMERICA COMPLIES WITH THE GUIDELINES OF THE U.S. DEPT. OF EDUCATION - TITLE IV REGULATIONS, NY STATE BOARD OF REGENTS AND THE ACCREDITING COMMISSION OF CAREER SCHOOLS AND COLLEGES OF TECHNOLOGY (ACCSCT) AND MIDDLE STATES ASSOCIATION COMMISSION ON HIGHER EDUCATION. X 1 1 X X X 0 0 0 0 0 0 0 0 0 LAWRENCE T RYAN 485894 0 0 0 57231 0 72032 0 33978 0 649135 0 43027 0 MARK ERICKSON 270919 0 0 0 28483 0 50534 0 30580 0 380516 0 22742 0 PETER RAINSFORD 243046 0 0 0 53038 0 47552 0 25961 0 369597 0 42799 0 BRUCE HILLENBRAND 248296 0 0 0 32199 0 48272 0 25614 0 354381 0 24071 0 CHARLES A OMARA 224594 0 0 0 32199 0 43862 0 10587 0 311242 0 21376 0 NANCY HARVIN 195000 0 0 0 0 0 30143 0 24386 0 249529 0 0 0 DAVE JASKIEWICZ 157392 0 0 0 19019 0 30281 0 22873 0 229565 0 17877 0 DRUSILLA BLACKMAN 148556 0 0 0 14139 0 28654 0 28564 0 219913 0 14139 0 RICHARD MIGNAULT 95231 0 11500 0 1988 0 9523 0 12108 0 130350 0 0 0 VICTOR GIELISSE 204090 0 0 0 0 0 19210 0 25704 0 249004 0 0 0 CHARLES HENNING 201825 0 0 0 0 0 19125 0 24447 0 245397 0 0 0 KATHY MERGET 169290 0 0 0 0 0 15872 0 29677 0 214839 0 0 0 BRADLEE BARNES 163600 0 0 0 0 0 2585 0 28829 0 195014 0 0 0 GREGORY DRESCHER 161647 0 0 0 0 0 15107 0 30143 0 206897 0 0 0 REUBEN KATZ 155015 0 0 0 0 0 14450 0 17408 0 186873 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a THE PRESIDENT IS PROVIDED WITH RESIDENTIAL HOUSING ON CAMPUS, FOR THE CONVENIENCE OF THE COLLEGE. FOR PERSONAL SERVICES, A INDEPENDENT CONTRACTOR IS USED TO MAINTAIN AND CLEAN THE PRESIDENT'S RESIDENCE, WHICH IS INSTITUTE PROPERTY. ANY ITEMS THAT ARE FOR THE BENEFIT OF THE COLLEGE ARE NOT INCLUDED IN THE PRESIDENT'S WAGES, ITEMS WHICH ARE FOR THE BENEFIT OF THE PRESIDENT ARE INCLUDED IN HIS WAGES. SchJ_P01_S00_L03 Schedule J, Part I, Line 3 THE BOARD OF TRUSTEES HAS THE OVERALL RESPONSIBILITY FOR THE COMPENSATION REVIEW OF THE PRESIDENT. THE REVIEW IS BASED ON THREE FACTORS, SUMMATIVE PERFORMANCE APPRAISAL FOCUSED ON ANNUAL GOALS WITH CONSIDERATION OF THE RESULTS OF AN EVALUATION CONDUCTED, MARKET ANALYSIS, (ESPECIALLY PEER AND OTHER INSTITUTIONS BENCHMARK DATA), AND INSTITUTIONAL NEEDS. THE PRESIDENT SUBMITS A STATUS REPORT ON THE CURRENT YEAR'S GOALS, YEAR END RESULTS AND PROPOSED GOALS FOR THE UPCOMING YEAR. THE BOARD CHAIR WILL ALSO RECEIVE APPROPRIATE PEER AND BENCHMARK DATA FROM THE HUMAN RESOURCES OFFICE. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES WILL REVIEW THE PRESIDENT'S PERFORMANCE AND DISCUSS THEIR CONCLUSIONS ORALLY WITH THE PRESIDENT TO ENSURE THE ACCURATE AND FAIRNESS OF JUDGEMENTS. THE EXECUTIVE COMMITTEE WILL THEN DISCUSS ITS CONCLUSIONS AND COMPENSATION RECOMMENDATION WITH THE PRESIDENT. THE PRESIDENT HAS A WRITTEN EMPLOYMENT CONTRACT. THE PRESIDENT HAS THE OVERALL RESPONSIBILITY FOR THE COMPENSATION REVIEW OF THE VICE PRESIDENTS. A MARKET ANALYSIS IS DONE BY THE HUMAN RESOURCES OFFICE WHICH ALSO INCLUDES PEER AND BENCHAMARK DATA. THIS ANALYSIS IS THEN USED AS A TOOL FOR DETERMINING SALARY CHANGES AND IS REVIEWED WITH THE EXECUTIVE COMMITTEE PRIOR TO IMPLEMENTATION. THE SCHEDULE J ALSO DETAILS THE TOTAL COMPENSATION PAID TO THE INSTITUTE'S OFFICERS, KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES. THE ABOVE SCHEDULE J, ALSO INCLUDES AMOUNTS CONTRIBUTED AND DISTRIBUTED FROM THE INSTITUTE'S EXECUTIVE COMPENSATION PLAN. ON JUNE 1ST OF EACH YEAR, THE INSTITUTE DEPOSITS AND INVESTS 10% OF EACH EXECUTIVE OFFICER'S BASE PAY INTO A DEFERRED COMPENSATION ASSET PLAN. THE INITIAL VALUE OF THESE DEPOSITS ARE INCLUDED IN THE "DEFERRED COMPENSATION" COLUMN ON SCHEDULE J. VESTING OCCURS 3 YEARS FOLLOWING THE INITIAL DEPOSIT. EVEN THOUGH THIS SCHEDULE RECOGNIZES DEFERRED COMPENSATION AS WAGES EARNED, THIS TYPE OF COMPENSATION MAY BE FORFEITED, IF THE OFFICER IS NO LONGER EMPLOYED AT THE INSTITUTE. YEARLY, THE VESTED DEPOSITS AND ANY ASSOCIATED REALIZED GAINS OR LOSSES WILL BE DISTRIBUTED TO EACH EXECUTIVE OFFICER. THESE DISTRIBUTIONS ARE INCLUDED IN THE "OTHER COMPENSATION" COLUMN IN SCHEDULE J. EFFECTIVELY, THE VALUE OF THE ORIGINAL DEPOSITS ARE BEING REPORTED AS COMPENSATION TWICE ON THE SCHEDULE J. DORM AUTHORITY OF THE STATE OF NEW YORK SERIES 2004A 146000293 64893U4R8 2004-02-11 9663022 REFUNDING 0 0 0 DORM AUTHORITY OF THE STATE OF NEW YORK SERIES 2004B AND 2004C 146003293 64983U7TI 2004-02-11 33452056 CONSTRUCTION 0 0 0 DORM AUTHORITY OF THE STATE OF NEW YORK SERIES 2004D 146000293 64893TZS5 2004-07-22 19000000 CONSTRUCTION 0 0 0 DORM AUTHORITY OF THE STATE OF NEW YORK SERIES 2006 146000293 64983Q000 2006-08-31 15125000 CONSTRUCTION 0 0 0 0 0 9663022 412237 0 8788808 190945 271032 0 0 0 0 1998 0 1 1 1 0 0 33452056 935541 0 0 427136 1088859 0 31000520 0 0 2006 0 0 1 1 0 0 19000000 576398 0 0 219455 557205 0 17646942 0 0 2006 0 0 1 1 0 0 15125000 439385 0 0 242102 435587 0 14007926 0 0 2007 0 0 1 1 0 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 CALIFORNIA STATEWIDE COMMISSION DEVELOPMENT AUTHORITY-SERIES 2008 680164610 130795ZR1 2008-11-18 18200000 CONSTRUCTION AND REFUNDING 0 0 0 0 0 18200000 0 0 11776083 335748 82794 0 6005375 0 0 2009 1 0 1 1 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 X 290 267365 COST X CAPITAL EQUIPMENT 39 442044 COST 0 0 1 0 F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b THE INSTITUTE'S FORM 990 IS PRIMARILY PREPARED BY THE INSTITUTE'S CONTROLLER. ONCE COMPLETED, IT IS THOROUGHLY REVIEWED BY THE SENIOR V.P. OF FINANCE AND INSTITUTE'S INDEPENDENT ACCOUNTING FIRM. AFTER REVISIONS ARE MADE, THE FORM IS THEN PRESENTED TO THE PRESIDENT AND AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. AFTER THE AUDIT COMMITTEE COMPLETES ITS REVIEW, THE FORM 990 IS THEN PRESENTED TO THE BOARD OF TRUSTEES FOR APPROVAL. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c CONFLICTS OF INTEREST FOR BOARD MEMBERS ARE CLEARLY DEFINED BY THE INSTITUTE'S BOARD OF TRUSTEES POLICY MANUAL. TRUSTEES ARE REQUIRED TO DISCLOSE TO THE BOARD ANY POSSIBLE CONFLICT OF INTEREST, AND TO ABSTAIN FROM VOTING ON ANY MATTERS, IN WHICH THEY HAVE A CONFLICT OF INTEREST. INDIVIDUAL TRUSTEES, AND MEMBERS OF THEIR FAMILY OR ANY ORGANIZATION IN WHICH A TRUSTEE OR MEMBER OF HIS OR HER FAMILY IS A STOCKHOLDER, MAY NOT HAVE EXISTING OR POTENTIAL FINANCIAL OR OTHER INTERESTS THAT MIGHT IMPAIR THEIR INDEPENDENT, UNBIASED JUDGMENT IN THE DISCHARGE OF THEIR RESPONSIBILITIES TO THE COLLEGE . THE COLLEGE MAINTAINS A CURRENT COMPLETED CONFLICT OF INTEREST STATEMENT FOR ALL TRUSTEES. THIS REVIEW IS DONE ANNUALLY FOR EACH BOARD MEMBER. THE INSTITUTE'S AUDIT COMMITTEE MONITORS TO ENSURE THAT THERE IS COMPLIANCE WITH THE POLICY. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 THE BOARD OF TRUSTEES HAS THE OVERALL RESPONSIBILITY FOR THE COMPENSATION REVIEW OF THE PRESIDENT. THE REVIEW IS BASED ON THREE FACTORS, SUMMATIVE PERFORMANCE APPRAISAL FOCUSED ON ANNUAL GOALS WITH CONSIDERATION OF THE RESULTS OF AN EVALUATION CONDUCTED, MARKET ANALYSIS, (ESPECIALLY PEER AND OTHER INSTITUTIONS BENCHMARK DATA), AND INSTITUTIONAL NEEDS. THE PRESIDENT SUBMITS A STATUS REPORT ON THE CURRENT YEAR'S GOALS, YEAR END RESULTS AND PROPOSED GOALS FOR THE UPCOMING YEAR. THE BOARD CHAIR WILL ALSO RECEIVE APPROPRIATE PEER AND BENCHMARK DATA FROM THE HUMAN RESOURCES OFFICE. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES WILL REVIEW THE PRESIDENT'S PERFORMANCE AND DISCUSS THEIR CONCLUSIONS ORALLY WITH THE PRESIDENT TO ENSURE THE ACCURATE AND FAIRNESS OF JUDGEMENTS. THE EXECUTIVE COMMITTEE WILL THEN DISCUSS ITS CONCLUSIONS AND COMPENSATION RECOMMENDATION WITH THE PRESIDENT. THE PRESIDENT HAS THE OVERALL RESPONSIBILITY FOR THE COMPENSATION REVIEW OF THE VICE PRESIDENTS. A MARKET ANALYSIS IS DONE BY THE HUMAN RESOURCES OFFICE WHICH ALSO INCLUDES PEER AND BENCHMARK DATA. THIS ANALYSIS IS THEN USED AS A TOOL FOR DETERMINING SALARY CHANGES AND IS REVIEWED WITH THE EXECUTIVE COMMITTEE PRIOR TO IMPLEMENTATION. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 THE FORM 990 AND THE ACCOMPANYING FINANCIAL STATEMENTS ARE READILY AVAILABLE TO THE PUBLIC AS REQUIRED. THESE DOCUMENTS CAN BE OBTAINED UPON REQUEST BY THE PUBLIC OR IS READILY AVAILABLE ON THE INTERNET (WWW. GUIDESTAR.COM). F990_P11_S00_L05 Form 990, Part XI, Line 5 REVENUES : UNREALIZED MARKET GAINS ( $9,459,711) & GIK LEASE ON THE SAN ANTONIO CAMPUS ($440,159) , WHICH IS NET OF THE FOLLOWING EXPENSES: BOND CONVERSION COSTS OF ($-175,915) DEPRECIATION IN FAIR VALUE OF DERIVATIVE ( -$485,974), AND RECORDED RENTAL EXPENSE RELATED TO THE SAN ANTONIO GIK LEASE (-$440,159) THE CULINARY INSTITUTE OF AMERICA SINGAPORE LTD BLOCK 26 21 TAMPINES AVENUE 1 SINGAPORE SN 052957 EDUCATION SN 2 N/A 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 THE CULINARY INSTITUTE OF AMERICA SINGAPORE LTD n 480423 ACTUAL COSTS EMPLOYEES WAGES AND BENEFITS THE CULINARY INSTITUTE OF AMERICA SINGAPORE LTD o 220596 ACTUAL COSTS OF OTHER RELATED EXPENSES THE CULINARY INSTITUTE OF AMERICA SINGAPORE LTD b 10000 CAPITAL CONTRIBUTION TO STARTUP SINGAPORE BANK ACCOUNT APPROVED EXTENSIONS WERE GRANTED FOR THE DELAYED FILING