2012-05-15T07:31:26-05:00 2011-06-30 PARENTEBEARD LLC 46 PUBLIC SQUARE SUITE 400 WILKESBARRE PA 18701 990 2010-07-01 240795406 MISERICORDIA UNIVERSITY MISE 5706746400 301 LAKE STREET DALLAS PA 186121090 MICHAEL A MACDOWELL 5706746400 2012-05-14 1 JULIUS GREEN CPA 5708200100 2010 2016-02-24 21:20:13Z MICHAEL A MACDOWELL 301 LAKE STREET DALLAS PA 186121090 73601042 0 0928 X WWW.MISERICORDIA.EDU X 1924 PA TO PROVIDE HIGHER EDUCATION SERVICES. 33 33 1509 34 20124 -892 7734736 5718303 56885686 60003377 654699 1140889 739638 541683 66014759 67404252 14904352 16426339 0 0 26145419 27071973 0 0 1328124 17092210 17835475 58141981 61333787 7872778 6070465 98379247 106021012 34426131 32956567 63953116 73064445 X MISERICORDIA UNIVERSITY, A CO-EDUCATIONAL CATHOLIC UNIVERSITY SPONSORED BY THE INSTITUTE OF THE SISTERS OF MERCY OF THE AMERICAS, IS COMMITTED TO PROVIDING QUALITY EDUCATION TO ITS STUDENTS AND TO SHAPING ITS EDUCATIONAL PROGRAMS AND POLICIES TO EXPRESS THE FOUNDING SISTERS' VALUES AND ATTITUDES OF MERCY, SERVICE, JUSTICE, AND HOSPITALITY. THE UNIVERSITY WELCOMES INDIVIDUALS OF ALL FAITHS.MISERICORDIA UNIVERSITY IS A CATHOLIC, LIBERAL ARTS-BASED, CO-EDUCATIONAL UNIVERSITY FOUNDED IN 1924 AND IT IS SPONSORED BY THE RELIGIOUS SISTERS OF MERCY. THE UNIVERSITY OFFERS UNDERGRADUATE AND GRADUATE PROGRAMS TO RESIDENT AND COMMUTER STUDENTS WHO CAN CHOOSE FROM MAJORS IN THREE DISTINCT ACADEMIC COLLEGES. 0 0 53144916 16426339 60003377 MISERICORDIA UNIVERSITY IS A CATHOLIC, LIBERAL ARTS-BASED, CO-EDUCATIONAL UNIVERSITY FOUNDED IN 1924 AND IT IS SPONSORED BY THE RELIGIOUS SISTERS OF MERCY. THE UNIVERSITY OFFERS UNDERGRADUATE AND GRADUATE PROGRAMS TO RESIDENT AND COMMUTER STUDENTS WHO CAN CHOOSE FROM MAJORS IN THREE DISTINCT ACADEMIC COLLEGES. THE COLLEGE OF ARTS AND SCIENCES OFFERS MAJOR DEGREE PROGRAMS IN BIOCHEMISTRY, BIOLOGY, CHEMISTRY, CLINICAL LABORATORY SCIENCE, MEDICAL SCIENCE, COMMUNICATIONS, COMPUTER SCIENCE, ENGLISH, HISTORY, INTERDISCIPLINARY STUDIES, MATHEMATICS, PHILOSOPHY, AND GOVERNMENT, LAW AND NATIONAL SECURITY AS WELL AS A NUMBER OF MINOR DEGREE PROGRAMS. CERTIFICATION PROGRAMS INCLUDE SECONDARY EDUCATION (BIOLOGY, CHEMISTRY, ENGLISH, HISTORY, MATHEMATICS). SPECIALIZATIONS IN PRE-DENTISTRY, PRE-LAW, PRE-MEDICINE, PRE-OPTOMETRY AND PRE-VETERINARY MEDICINE ARE ALSO AVAILABLE.THE COLLEGE OF HEALTH SCIENCES OFFERS MAJOR DEGREE PROGRAMS IN HEALTH SCIENCE, NURSING, MEDICAL IMAGING, OCCUPATIONAL THERAPY, DIAGNOSTIC MEDICAL SONOGRAPHY, PHYSICAL THERAPY AND SPEECH-LANGUAGE PATHOLOGY AS WELL AS A NUMBER OF MINOR DEGREE PROGRAMS. CERTIFICATION PROGRAMS ARE AVAILABLE IN DIAGNOSTIC MEDICAL SONOGRAPHY, POST-MASTERS FAMILY NURSE PRACTITIONER, HEALTH CARE INFORMATICS, POST-MASTER NURSING EDUCATION, NUCLEAR MEDICINE, PEDIATRICS, AND TEACHER CERTIFICATION IN SPEECH AND LANGUAGE DISABILITIES. SPECIALIZATIONS IN MANAGEMENT, NUCLEAR MEDICINE, NURSING-FAMILY NURSE PRACTITIONER, AND CNS NURSING EDUCATION. THE COLLEGE OF HEALTH SCIENCES OFFERS ENTRY LEVEL PROFESSIONAL MASTER OF SCIENCE DEGREES IN OCCUPATIONAL THERAPY, PHYSICAL THERAPY AND SPEECH-LANGUAGE PATHOLOGY; A POST-PROFESSIONAL MASTER OF SCIENCE DEGREE IN NURSING AND OCCUPATIONAL THERAPY AND A POST PROFESSIONAL DOCTOR OF PHYSICAL THERAPY DEGREE AND OCCUPATIONAL THERAPY DEGREE.THE COLLEGE OF PROFESSIONAL STUDIES AND SOCIAL SCIENCES OFFERS MAJOR DEGREE PROGRAMS IN ACCOUNTING, APPLIED BEHAVIORAL SCIENCES, BUSINESS ADMINISTRATION, EDUCATION, ELEMENTARY EDUCATION, HEALTH CARE MANAGEMENT, INFORMATION TECHNOLOGY, MANAGEMENT, MARKETING, PROFESSIONAL STUDIES, PSYCHOLOGY, SOCIAL WORK, SPORTS MANAGEMENT ALONG WITH A NUMBER OF MINOR DEGREE PROGRAMS. CERTIFICATION PROGRAMS INCLUDE ADDICTIONS COUNSELING, CHILD WELFARE SERVICES, EARLY CHILDHOOD EDUCATION, ELEMENTARY EDUCATION, GERONTOLOGY, GERIATRIC CARE MANAGEMENT, HEALTH CARE MANAGEMENT, SECONDARY EDUCATION, AND SPECIAL EDUCATION. SPECIALIZATIONS IN ACCOUNTING, ADDICTIONS COUNSELING, CHILD WELFARE SERVICES, ELEMENTARY EDUCATION, GERONTOLOGY, HEALTH CARE INFORMATICS, HEALTH CARE MANAGEMENT, HEALTH CARE MARKETING, HUMAN RESOURCE MANAGEMENT, INFORMATION TECHNOLOGY MANAGEMENT, OPERATIONS AND SUPPLY CHAIN MANAGEMENT, IT SECURITY, MANAGEMENT, SPORTS MANAGEMENT, SPECIAL EDUCATION, SELECTED SEQUENCE AND SUPERVISION OF INSTRUCTION AND CURRICULUM. THE COLLEGE OF PROFESSIONAL STUDIES AND SOCIAL SCIENCES OFFERS MASTER OF SCIENCE DEGREES IN ORGANIZATIONAL MANAGEMENT, BUSINESS ADMINISTRATION, EDUCATION, ACCOUNTING, AND EDUCATIONAL TECHNOLOGY.THE UNIVERSITY IS REGIONALLY ACCREDITED BY THE MIDDLE STATES COMMISSION ON HIGHER EDUCATION. OTHER ACCREDITING AGENCIES RECOGNIZING THE UNIVERSITY INCLUDE THE ACCREDITATION COUNCIL FOR OCCUPATIONAL THERAPY EDUCATION, AMERICAN SPEECH-LANGUAGE-HEARING ASSOCIATION, COMMISSION ON ACCREDITATION IN PHYSICAL THERAPY EDUCATION, COMMISSION ON ACCREDITATION OF ALLIED HEALTH EDUCATION PROGRAMS, COMMISSION ON COLLEGE NURSING EDUCATION, COUNCIL ON SOCIAL WORK EDUCATION, INTERNATIONAL ASSEMBLY FOR COLLEGIATE BUSINESS EDUCATION, PENNSYLVANIA DEPARTMENT OF EDUCATION AND THE JOINT REVIEW COMMITTEE ON EDUCATION IN RADIOLOGIC TECHNOLOGY.THE TOTAL HEADCOUNT FOR FALL 2010 INCLUDED 2,812 STUDENTS. 53144916 1 1 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 79 0 1 1509 1 1 1 0 0 0 0 0 0 0 0 0 X 33 33 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X RON HROMISIN 5706746400 301 LAKE STREET DALLAS PA 18612 MICHAEL AMORY 0.20 X 0 0 0 DR M THERESE ANTONE RSM 0.20 X 0 0 0 MSGR JOHN J BENDIK 0.20 X 0 0 0 CHRISTOPHER L BORTON 0.20 X 0 0 0 JONATHAN BRASSINGTON 0.20 X 0 0 0 DR RUTH A CONNOLLY 0.20 X 0 0 0 ANDREW CORNELL 0.20 X 0 0 0 SCOTT DAGENAIS 0.20 X 0 0 0 DR MARY ANN DILLON RSM 0.20 X 0 0 0 PATRICIA FINAN-CASTELLANO 0.20 X 0 0 0 HAROLD E FLACK II 0.20 X 0 0 0 DR MARTHA HANLON RSM 0.20 X 0 0 0 ROGER HOWELL 0.20 X 0 0 0 GEORGE HUNTZINGER 0.20 X 0 0 0 SANDY INSALACO SR 0.20 X 0 0 0 KRISTOPHER JONES 0.20 X 0 0 0 WILLIAM H KENT 0.20 X 0 0 0 SCOTT LYNETT 0.20 X 0 0 0 SHERRY A MANETTA 0.20 X 0 0 0 CATHERINE MCGROARTY RSM 0.20 X 0 0 0 JOHN C METZ 0.20 X 0 0 0 DANIEL MEUSER 0.20 X 0 0 0 JOHN D MORAN JR 0.20 X 0 0 0 JOHN T QUEENAN MD 0.20 X 0 0 0 DR CAROL RITTNER RSM 0.20 X 0 0 0 PAUL SIEGEL 0.20 X 0 0 0 ROSEMARY SIGMOND 0.20 X 0 0 0 DR DEBORAH SMITH-MILESKI 0.20 X 0 0 0 ROBERT J SOPER 0.20 X 0 0 0 MARY BETH MCNAMARA SULLIVAN 0.20 X 0 0 0 SR MAYON SLYVAIN 0.20 X 0 0 0 MURRAY UFBERG ESQ 0.20 X 0 0 0 WILLIAM C WILLIAMS 0.20 X 0 0 0 DR MICHAEL MACDOWELL 40.00 X 286991 0 58979 JOHN RISBOSKIN 40.00 X 147288 0 24739 CAROL FAHNESTOCK 40.00 X 40201 0 10328 MARI KING 40.00 X 138903 0 17620 SUSAN HELWIG 40.00 X 128758 0 27335 FRED CROOP 40.00 X 112903 0 23671 JEAN DYER 40.00 X 114209 0 14051 JOHN SUMANSKY 40.00 X 114186 0 15779 SUSAN BARKER 40.00 X 112494 0 17614 1195933 0 210116 8 0 1 0 METZ & ASSOCIATES LTD 2 WOODLAWN DRIVE DALLAS PA 18612 FOOD SERVICE 2227182 SORDONI CONSTRUCTION SERVICES 45 OWEN STREET FORTY FORT PA 18704 GENERAL CONSTRUCTION CONTRACTOR 2218258 POWER ENGINEERING CORP 901 JUMPER RD WILKESBARRE PA 18703 HVAC CONSTRUCTION CONTRACTOR 561430 CARROLL CONSTRUCTION CO PO BOX 341 DALLAS PA 18612 GENERAL CONSTRUCTION CONTRACTOR 349472 RUCKNO CONSTRUCTION CO PO BOX 1227 KINGSTON PA 18704 GENERAL CONSTRUCTION CONTRACTOR 326145 5 1722886 3995417 146067 5718303 STUDENT TUITION & FEES 611600 50441797 50441797 ROOM & BOARD 721310 8519822 8519822 BOOKSTORE 451211 968738 968738 STUDENT LOAN INT INC 523000 50093 50093 22927 22927 60003377 401635 401635 6936044 6196790 739254 739254 739254 SUMMER CAMPS/CONFRNCES 611710 357509 357509 STUDENT PARKING/FINES 812930 52147 52147 INSURANCE CLAIMS 525100 25413 25413 106614 86490 20124 541683 67404252 59480692 20124 2185133 16426339 16426339 718345 718345 20444594 17944384 1749765 750445 1256433 1114220 96094 46119 3072204 2629472 329963 112769 1580397 1387127 135259 58011 137763 137763 90475 90475 155328 155328 1834474 1033935 741253 59286 365425 200206 165219 2751673 2219431 458113 74129 782489 165819 616670 2417736 2315962 101774 560773 488231 64681 7861 169638 136308 32165 1165 878172 878172 3286409 3148068 138341 428486 428486 BOOKSTORE 705386 704828 558 INTEREST RATE SWAP 475388 453948 21440 MEMBERSHIPS 208985 95137 107123 6725 FINANCING FEES 139173 132896 6277 STUDENT TESTING FEES 86732 86732 2360970 999887 1149469 211614 61333787 53144916 6860747 1328124 416670 296936 7734920 8387520 1624373 2309167 410355 409056 191752 69211 104393645 35608959 65965389 68784686 17108021 20342824 2134629 2104671 2793138 3316941 98379247 106021012 3247783 2606628 1329114 1699927 17994231 17561710 331222 255811 8308518 7616573 3215263 3215918 34426131 32956567 X 38105277 42973246 15163822 17822191 10684017 12269008 63953116 73064445 98379247 106021012 X 6070465 3040864 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1099405 X 0 19689944 1657949 4071030 446449 165824 24806650 16932853 1518310 1690772 308187 143804 19689944 17675644 2261412 -2586034 296964 121205 16932853 0.40000 0.49000 0.11000 1 0 2889074 2889074 80940355 21348463 59591892 3979805 2703836 1275969 15267012 11556660 3710352 1317399 1317399 68784686 STUDENT DEPOSITS & ADVANCES 391926 ANNUITIES PAYABLE 117491 ADVANCE FROM FEDERAL GOVERNMENT FOR STUDENT LOANS 1505504 ASSET RETIREMENT OBLIGATIONS 45750 ACCRUED PENSION COST 943642 INTEREST RATE SWAP 211605 3215918 67404252 61333787 6070465 2630787 -155328 565405 3040864 9111329 55033971 2630787 565405 3196192 51837779 155328 15411145 15566473 67404252 45922642 0 45922642 15411145 15411145 61333787 PART III, LINE 4: PART III, LINE 4: THE UNIVERSITY MAINTAINS A COLLECTION OF PAINTINGS UTILIZED IN THE DECOR OF VARIOUS UNIVERSITY BUILDINGS, INCLUDING ITS ART GALLERY. THE UNIVERSITY'S ART GALLERY AND COLLECTION IS AN INTEGRAL PART OF THE FINE ARTS CURRICULUM. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: PART V, LINE 4: ANNUAL EARNINGS FROM THE UNIVERSITY'S ENDOWMENT ARE USED FOR THE FOLLOWING PURPOSES: 1. PRESERVATION OF THE ENDOWMENT PRINCIPAL TO PROVIDE CONTINUED EARNINGS. 2. USE A PRE-DETERMINED ENDOWMENT SPENDING RATE TO INCREASE FUNDS AVAILABLE FOR USE IN AWARDING ANNUAL SCHOLARSHIPS. 3. FUND A SPENDING RESERVE TO BE USED IN YEARS WHEN ANNUAL EARNINGS CANNOT SUPPORT THE PRESERVATION OF ENDOWMENT PRINCIPAL AND THE ENDOWMENT SPENDING RATE. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE UNIVERSITY IS TAX-EXEMPT AS A NOT-FOR-PROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE UNIVERSITY ACCOUNTS FOR UNCERTAINTIES IN INCOME TAXES IN ACCORDANCE WITH AUTHORITATIVE GUIDANCE, WHICH PRESCRIBES A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS BEEN MET. THE UNIVERSITY'S POLICY IS TO RECOGNIZE INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. THE UNIVERSITY'S FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS FOR 2009, 2008, AND 2007 REMAIN SUBJECT TO EXAMINATION BY THE IRS. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN SPLIT-INTEREST AGREEMENTS 516,737. NET UNREALIZED LOSS ON INTEREST RATE SWAPS 44,970. MINIMUM PENSION LIABILTY ADJUSTMENT 3,698. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN SPLIT-INTEREST AGREEMENTS 516,737. NET UNREALIZED LOSS ON INTEREST RATE SWAPS 44,970. MINIMUM PENSION LIABILITY ADJUSTMENT 3,698. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT SCHOLARSHIPS 15,411,145. PART XIII, LINE 4B - OTHER ADJUSTMENTS: STUDENT SCHOLARSHIPS 15,411,145. 1 STUDENT ACADEMIC SCHOLARSHIPS 2521 16426339 0 FMV N/A PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE UNIVERSITY PROVIDES ITS STUDENTS WITH VARIOUS SCHOLARSHIPS THAT ARE AWARDED BASED ON VARIOUS CRITERIA. EACH STUDENT'S ELIGIBILITY IS VERIFIED PRIOR TO AWARDING A SCHOLARSHIP. THE UNIVERSITY POSTS THE GRANT DIRECTLY TO OUTSTANDING BALANCES TO ENSURE THE PROPER USE OF AWARDED FUNDS. X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 DR MICHAEL MACDOWELL 215991 0 71000 0 0 0 33976 0 25003 0 345970 0 0 0 JOHN RISBOSKIN 136616 0 0 0 10672 0 9312 0 15427 0 172027 0 0 0 MARI KING 138903 0 0 0 0 0 11113 0 6507 0 156523 0 0 0 SUSAN HELWIG 128758 0 0 0 0 0 10883 0 16452 0 156093 0 0 0 PART I, LINE 1A PART I, LINE 1A: THE UNIVERSITY FURNISHES THE PRESIDENT WITH HOUSING FOR HIM AND HIS SPOUSE WITHIN A HOME OWNED BY THE UNIVERSITY. THE PRESIDENT AND HIS SPOUSE WILL RESIDE IN THE HOME THROUGHOUT HIS TERM. THE UNIVERSITY PAYS DUES FOR MEMBERSHIPS IN SUCH PROFESSIONAL AND COMMUNITY ASSOCIATIONS AND ORGANIZATIONS, AND FOR ATTENDANCE BY THE PRESIDENT AT CONFERENCES AND MEETINGS, AS DEEMED APPROPRIATE FOR THE PRESIDENT'S IMPLEMENTATION OF THE DUTIES OF HIS OFFICE. THE UNIVERSITY IS RESPONSIBLE FOR PAYING THE COST OF ALL UTILITIES AND REASONABLE EXPENSES, EXCLUDING PERSONAL TELEPHONE CHARGES, INCLUDING MAINTENANCE OF AND RENOVATIONS TO THE PRESIDENT'S RESIDENCE AND GROUNDS. THE GENERAL MUNICIPAL AUTHORITY OF THE BOROUGH OF HARVEYS LAKE 231920749 417846AA0 2008-12-18 21360000 PARTIAL REFUNDING OF PRIOR BOND ISSUE, FIN CAPITAL PROJS, PAY ISSUANCE COSTS 0 1 0 3805000 21360000 331438 17694527 3334035 2009 0 1 1 1 0 0 1 0 1 0.00000 0.00000 0.00000 1 0 1 1 PNC BANK 25.400000000000 0 0 0 1 1 METZ & ASSOCIATES X 650000 255811 0 1 1 255811 JOHN C METZ BOARD MEMBER 2227182 FOOD SERVICE FOR THE UNIVERSITY IS PROVIDED BY METZ & ASSOCIATES, LTD. JOHN C. METZ IS THE CHAIRMAN AND CEO OF METZ & ASSOCIATES, LTD AND ALSO SERVES AS A BOARD MEMBER FOR THE UNIVERSITY. THE BOARD MAINTAINS A CONFLICT OF INTEREST POLICY AND ALL TRANSACTIONS WITH METZ & ASSOCIATES, LTD WERE CONDUCTED AT ARM'S LENGTH. 0 CHRISTOPHER L BORTON BOARD MEMBER 296838 CERTAIN CONTRACTED ARCHITECT AND ENGINEERING SERVICES FOR THE UNIVERSITY ARE PROVIDED BY BORTON-LAWSON ENGINEERING. CHRISTOPHER L. BORTON IS THE PRESIDENT OF BORTON-LAWSON ENGINEERING AND ALSO SERVES AS A BOARD MEMBER FOR THE UNIVERSITY. THE BOARD MAINTAINS A CONFLICT OF INTEREST POLICY AND ALL TRANSACTIONS WITH BORTON-LAWSON ENGINEERING WERE CONDUCTED AT ARM'S LENGTH. 0 X 5 54000 FMV X 5 89867 FMV 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 THE FOLLOWING RELATIONSHIPS WERE DISCLOSED AMONG BOARD MEMBERS: JONATHAN BRASSINGTON AND GEORGE HUNTZINGER HAVE A BUSINESS RELATIONSHIP. KRISTOPHER JONES AND ROBERT SOPER HAVE A BUSINESS RELATIONSHIP. WILLIAM WILLIAMS AND HAROLD FLACK HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 THE UNIVERSITY'S AUDIT COMMITTEE IS A STANDING COMMITTEE OF THE BOARD OF TRUSTEES. AS OUTLINED IN THE AUDIT COMMITTEE CHARTER, ONE OF THE AUDIT COMMITTEE'S RESPONSIBILITIES IS TO ANNUALLY REVIEW AND APPROVE FEDERAL FORM 990 AND FORM 990-T PRIOR TO FILING. COPIES OF FORMS 990 AND 990-T ARE PROVIDED TO THE FULL BOARD OF TRUSTEES PRIOR TO THE FILING DUE DATE. FORM 990, PART VI, SECTION B, LINE 12C THE UNIVERSITY MAINTAINS A WRITTEN CONFLICT OF INTEREST POLICY COVERING ALL MEMBERS OF THE BOARD OF TRUSTEES, INSTITUTIONAL OFFICERS, FACULTY AND EMPLOYEES OF THE UNIVERSITY. A DISCLOSURE AND CONFLICT OF INTEREST FORM DETAILS INFORMATION REGARDING SUBSTANTIVE, COMPETING, BUSINESS AND FAMILIAL RELATIONSHIPS THAT MAY REPRESENT A CONFLICT OF INTEREST. ANY SUCH RELATIONSHIPS INCLUDING POSSIBLE SUBSTANTIAL BENEFITS ARE DETAILED ON THE DISCLOSURE AND CONFLICT OF INTEREST FORM. MEMBERS OF THE BOARD OF TRUSTEES ARE REQUIRED TO COMPLETE A NEW DISCLOSURE AND CONFLICT OF INTEREST FORM ANNUALLY. THE FORMS ARE REVIEWED BY THE SECRETARY OF THE BOARD OF TRUSTEES AND ANY POTENTIAL CONFLICTS ARE REVIEWED WITH THE PRESIDENT AND THE HUMAN RESOURCES DEPARTMENT AS CONSIDERED NECESSARY. FORM 990, PART VI, SECTION B, LINE 15 THE UNIVERSITY'S EXECUTIVE COMMITTEE, WHICH ALSO SERVES AS THE COMPENSATION COMMITTEE, PERIODICALLY ENGAGES AN INDEPENDENT CONSULTING FIRM TO ASSIST IN DETERMINING EXECUTIVE COMPENSATION WITHIN A PRE-DETERMINED COMPENSATION PHILOSOPHY. THE FIRM'S REVIEW IS BASED UPON MARKET EVALUATION OF ITEMS INCLUDING THE UNIVERSITY'S PEER INSTITUTIONS' STATISTICS, COMPENSATION AND BENEFITS IN COMPLIANCE WITH APPROPRIATE PROVISIONS OF THE INTERNAL REVENUE CODES. FORM 990, PART VI, SECTION C, LINE 19 ALTHOUGH THE UNIVERSITY DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ROUTINELY AVAILABLE TO THE PUBLIC, THE DOCUMENTS ARE AVAILABLE UPON REQUEST. THE UNIVERSITY'S CONFLICT OF INTEREST POLICY IS INCLUDED IN THE HUMAN RESOURCES POLICIES AND PROCEDURES MANUAL AVAILABLE ON THE UNIVERSITY'S WEBSITE. THE UNIVERSITY PROACTIVELY SUBMITS ITS FINANCIAL STATEMENTS TO THE NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS (NACUBO) WEBSITE. IN ADDITION, THE FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 2,630,787. INVESTMENT EXPENSES: -155,328. CHANGE IN SPLIT-INTEREST AGREEMENTS 516,737. NET UNREALIZED LOSS ON INTEREST RATE SWAPS 44,970. MINIMUM PENSION LIABILTY ADJUSTMENT 3,698. TOTAL TO FORM 990, PART XI, LINE 5: 3,040,864. FORM 990, PART XI, LINE 2C: THE PROCESSES USED BY THE COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE ORGANIZATION'S FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT HAVE NOT CHANGED FROM THE PRIOR YEAR.