2012-05-14T17:10:32-07:00 2011-06-30 990 2010-07-01 910565006 Seattle University SEAT 2062966150 901 12th Avenue Seattle WA 981221090 James Adolphson 2062966150 2012-05-14 2010 2016-02-24 21:20:13Z Stephen V Sundborg SJ President 901 12th Avenue Finance and Business Affairs Seattle WA 981221090 277024627 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 2010-2011 the university enrolled students and awarded undergraduate degrees, graduate degrees, doctoral degrees and professional degrees. 27 21 4041 32 838405 -107910 14182270 15363112 212989513 229552437 8706244 4011817 827445 838405 236705472 249765771 50921596 59347539 0 0 111648202 118744803 0 0 3655378 62601933 71306907 225171731 249399249 11533741 366522 565611586 591265813 199308186 194834208 366303400 396431605 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 2010-2011, the university enrolled 8,919 students and awarded 1,131 undergraduate degrees, 837 graduate degrees, 9 doctoral degrees and 315 professional degrees. 0 0 165091910 53777845 227175293 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 2010-11, the university enrolled 8,919 students and awarded 1,131 undergraduate degrees, 837 graduate degrees, 9 doctoral degrees and 315 professional degrees. 12594391 0 15398561 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. 25909599 5569694 36953600 The School of Law contributes importantly to the priorities of academic excellence and education for justice, which prepares graduates for a lifetime in law at the service of justices. In the academic year 2010-11, the School of Law awarded 315 professional degrees. 0 0 0 203595900 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 392 0 1 4041 1 1 1 0 0 0 0 1 1 0 0 0 0 X 27 21 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 WA X Kim Crewey 2062966481 901 12th Avenue Office of the Controller Seattle WA 981221090 Michael Bayard SJ 0.5 X 0 0 0 Phyllis J Campbell 0.5 X 0 0 0 Scott W Coble SJ 0.5 X 0 0 0 Theodore Collins 0.5 X 5000 0 0 Thomas A Ellison 0.5 X 0 0 0 Anne V Farrell 0.5 X 0 0 0 Patrice M Fersch 0.5 X 0 0 0 Marta Dalla Gasperina 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 0.5 X 0 0 0 W Craig Jelinek 0.5 X 0 0 0 Kent L Johnson 0.5 X 4300 0 0 Patrick M Kelly SJ 0.5 X 0 0 0 Maureen Lee 0.5 X 0 0 0 Michael C McCarthy SJ 0.5 X 0 0 0 Gordon A McHenry 0.5 X 0 0 0 John W Meisenbach 0.5 X 0 0 0 Carol K Nelson 0.5 X 0 0 0 Nicole W Piasecki 0.5 X 0 0 0 Stephen A Privett SJ 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 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 James D Sinegal 0.5 X 0 0 0 Stephen V Sundborg SJ 37.5 X X 294000 0 36260 Steven U Trainer 0.5 X 0 0 0 Jill A Wakefield 0.5 X 0 0 0 Betty Woods 0.5 X 0 0 0 Isiaah Crawford 37.5 X 241237 0 57181 Marilyn Crone 37.5 X 195362 0 10625 Jacob Diaz 37.5 X 148476 0 24637 Robert Dullea 37.5 X 146266 0 23246 Peter Ely SJ 37.5 X 130460 0 19828 Gerald Huffman 37.5 X 127580 0 21950 Timothy Leary 37.5 X 182697 0 30942 Mary Kay McFadden 37.5 X 166913 0 25030 Mary Petersen 37.5 X 161350 0 32542 Ronald Smith 37.5 X X 201764 0 35350 Marilyn Gist 37.5 X 210172 0 22044 Michael Andrews 37.5 X X 95306 0 16409 Azita Emami 37.5 X 198005 0 28204 Mark Markuly 37.5 X 124719 0 19375 Mark Niles 37.5 X 160260 0 21407 Joseph Phillips Jr 37.5 X 195965 0 33981 David Powers 37.5 X 165292 0 38650 Michael Quinn 37.5 X 166900 0 56425 Sue Schmitt 37.5 X 134108 0 22541 Margaret Chon 37.5 X 188082 0 27639 Annette Clark 37.5 X 249407 0 35313 W H Knight 37.5 X 192313 0 35358 Tayyab Mahmud 37.5 X 208150 0 27615 Charles OKelley 37.5 X 243140 0 33249 4537224 0 735801 167 1 1 0 MA Mortenson PO Box 1867 Bellevue WA 98009 Construction 14842479 Sungard Higher Education Managed Services Inc Chicago IL 60693 Info Technology 3681361 Group Health Cooperative PO Box 34581 Seattle WA 98124 Employee Health Care 3461450 Witt Fiala Flannery and Assoc PO Box 958204 St Louis MO 63195 Janitorial Service 2036251 MBI Systems Inc PO Box 84986 Seattle WA 98124 Office furn and fixtures 1632680 127 0 0 548570 0 3753503 11061039 3870389 15363112 Tuition and fees 611310 208835569 208835569 0 0 Auxiliary enterprises 611310 15398561 15398561 0 0 Other revenue 611310 5318307 5318307 0 0 0 0 0 0 229552437 2918694 2918694 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 28351979 0 27258856 0 1093123 0 1093123 1093123 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Intercol. ath. and sports facilities 711210 815345 0 815345 0 UBTI, investments 523999 23060 0 23060 0 0 0 0 0 838405 249765771 233564254 838405 0 0 0 59347539 59347539 0 0 0 0 4537224 0 4537224 0 0 0 0 0 86925190 68073583 16806196 2045411 7688204 6025878 1487686 174640 12886419 10081728 2489005 315686 6707766 5257428 1297969 152369 126801 101695 25106 0 720191 577322 142531 338 224500 180049 44451 0 0 0 0 0 0 0 1998305 0 1998305 0 9774668 7600026 1876317 298325 823321 635770 156960 30591 2964216 2246942 554732 162542 1624378 1281736 316439 26203 0 0 0 0 6876071 5511828 1360776 3467 3924476 3104838 766531 53107 0 0 0 0 2791775 2126284 524943 140548 6826847 5475131 1351716 0 0 0 0 0 11816518 9476847 2339671 0 1476360 1184041 292319 0 Supplies 5343422 4225088 1043102 75232 Retail services and maintenance 7100660 5670547 1399961 30152 Purchases for resale 2960798 2299121 567614 94063 3933600 3112479 768417 52704 249399249 203595900 42147971 3655378 1405425 21103503 48618922 20635346 13527256 8323517 3756218 4543551 0 0 0 0 7361783 7701384 1010170 709028 1456046 1743853 428985206 105628025 266895374 323357181 55088127 51212764 110265985 128752974 0 0 0 0 56226280 23182712 565611586 591265813 30952355 27085923 0 0 6849379 9876829 146909661 143329661 0 0 0 0 0 0 0 0 14596791 14541795 199308186 194834208 X 192191174 238503294 76379245 58298377 97732981 99629934 366303400 396431605 565611586 591265813 X 366522 29761683 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 1 1586 0 0 1 171498 0 0 173084 0 SchC_P2B_S00_L01 Schedule C, Part II-B, Line 1 The University contracts with Cassidy and Associates, Inc., to identify, develop and present institutional initiatives for consideration by committees of Congress, federal regulatory agencies, and others, and to serve as liaison to government agencies by monitoring and reporting on governmental programs and legislation relevant to the university. The university also pays membership dues to organizations which engage in lobbying activities. Thus, a portion of the dues are attributable to lobbying activities. 152815196 1374251 32024307 0 7455149 0 178758605 151180031 2912779 9228006 0 10505620 0 152815196 206654870 4416879 -50530972 0 9360746 0 151180031 0.22 0.78 0 0 0 0 44152127 44152127 0 334070654 80461747 253608907 0 2903050 1588057 1314993 0 19628250 9158846 10469404 0 28231125 14419375 13811750 323357181 0 0 Investments 1097066 F Commingled funds 31009141 F Hedge funds 43850819 F Private equity partnerships 52181945 F Real estate 614003 F 128752974 Bond issuance cost 1738666 Goodwill, net 4940524 Funds held in trust by others 1749194 Assets held under split interest agreements 5735444 Construction in progress 8964131 Investment receivable 54753 23182712 0 Liabilities under split-interest agreements 4017306 Funds held in custody for others 2712989 Unrealized loss on interest rate swap agreement 1518594 US government loan funds 6288041 Lease deposit 4865 14541795 249765771 249399249 366522 29761683 0 0 0 0 29761683 30128205 220179915 29761683 0 0 -59347539 -29585856 249765771 0 0 0 249765771 190051710 0 0 0 -59347539 -59347539 249399249 0 0 0 249399249 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 form gross tuition and fees to derive net tuition and fees. 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. 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 the its public website and in all brochures, publications, and catalogs dealing with student admissions, programs, and scholarships. 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, and loan and work study programs. 1 Europe (including Iceland and Greenland) Program Services Study abroad. See note in Part IV. 0 Central America and the Caribbean 0 0 Investments 30625365 0 0 30625365 0 0 0 0 0 0 SchF_P01_S00_L02 Schedule F, Part I, Line 2 Seattle University includes study abroad programs in a number of academic areas and maintains detailed expenditure records at that level. Currently, the university does not have a method to summarize expenditures and students served at an institutional level.The university has holdings in alternative investment funds which are either registered overseas or where the fund manager's principal place of business is outside the United States. Gala 548570 0 548570 0 0 44559 133076 91000 53426 0 0 548570 0 548570 0 0 44559 133076 91000 53426 322061 226509 1 Grants from institutional funds 3229 24963820 Scholarships from institutional funds 3252 27542237 Scholarships and grants funded from gifts and other restricted funds. 426 3349054 All other student aid 1342 3492428 SchI_P01_S00_L02 Schedule I, Part I, Line 2 The Enrollment Services Division, the Office of Student Financial Services, and the office of Research Services and Sponsored Projects are responsible for the administration of all grants 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 1 0 0 0 0 0 0 0 Michael Andrews 95306 0 0 0 0 0 10605 0 5804 0 111715 0 0 0 Michael Bayard SJ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Phyllis J Campbell 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Margaret Chon 188082 0 0 0 0 0 20829 0 6810 0 215721 0 0 0 Annette Clark 249407 0 0 0 0 0 26424 0 8889 0 284720 0 0 0 Scott W Coble SJ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Theodore Collins 5000 0 0 0 0 0 0 0 0 0 5000 0 0 0 Isiaah Crawford 241237 0 0 0 0 0 23634 0 33547 0 298418 0 0 0 Marilyn Crone 195362 0 0 0 0 0 7917 0 2708 0 205987 0 0 0 Jacob Diaz 148476 0 0 0 0 0 15150 0 9487 0 173113 0 0 0 Robert Dullea 146266 0 0 0 0 0 16241 0 7005 0 169512 0 0 0 Thomas A Ellison 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Peter Ely SJ 130460 0 0 0 0 0 13046 0 6782 0 150288 0 0 0 Azita Emami 198005 0 0 0 0 0 20200 0 8004 0 226209 0 0 0 Anne V Farrell 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Patrice M Fersch 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Marta Dalla Gasperina 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Marilyn Gist 210172 0 0 0 0 0 16307 0 5737 0 232216 0 0 0 Allan C Golston 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Donald J Horowitz 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Patrick J Howell SJ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Gerald Huffman 127580 0 0 0 0 0 15150 0 6800 0 149530 0 0 0 W Craig Jelinek 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Kent L Johnson 4300 0 0 0 0 0 0 0 0 0 4300 0 0 0 Patrick M Kelly SJ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 W H Knight 192313 0 0 0 0 0 22183 0 13175 0 227671 0 0 0 Timothy Leary 182697 0 0 0 0 0 20352 0 10590 0 213639 0 0 0 Maureen Lee 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Tayyab Mahmud 208150 0 0 0 0 0 20755 0 6860 0 235765 0 0 0 Mark Markuly 124719 0 0 0 0 0 12625 0 6750 0 144094 0 0 0 Michael C McCarthy SJ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Mary Kay McFadden 166913 0 0 0 0 0 18170 0 6860 0 191943 0 0 0 Gordon A McHenry 0 0 0 0 0 0 0 0 0 0 0 0 0 0 John W Meisenbach 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Carol K Nelson 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Mark Niles 160260 0 0 0 0 0 15000 0 6407 0 181667 0 0 0 Charles OKelley 243140 0 0 0 0 0 26389 0 6860 0 276389 0 0 0 Mary Petersen 161350 0 0 0 0 0 19367 0 13175 0 193892 0 0 0 Joseph Phillips Jr 195965 0 0 0 0 0 20806 0 13175 0 229946 0 0 0 Nicole W Piasecki 0 0 0 0 0 0 0 0 0 0 0 0 0 0 David Powers 165292 0 0 0 0 0 17978 0 20672 0 203942 0 0 0 Stephen A Privett SJ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Michael Quinn 166900 0 0 0 0 0 17675 0 38750 0 223325 0 0 0 Robert A Ratliffe 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Rick C Redman 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Stuart T Rolfe 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Pete J Rose 0 0 0 0 0 0 0 0 0 0 0 0 0 0 David Sabey 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Sue Schmitt 134108 0 0 0 0 0 15730 0 6811 0 156649 0 0 0 Mick J Schreck 0 0 0 0 0 0 0 0 0 0 0 0 0 0 James D Sinegal 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Ronald Smith 201764 0 0 0 0 0 19569 0 15781 0 237114 0 0 0 Stephen V Sundborg SJ 294000 0 0 0 0 0 29400 0 6860 0 330260 0 0 0 Steven U Trainer 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Jill A Wakefield 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Betty Woods 0 0 0 0 0 0 0 0 0 0 0 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a The university pays club dues for certain officers and key employees for business-related purposes. The university provides a housing allowance to certain officers who relocated to the Seattle area from outside the region. SchJ_P01_S00_L04 Schedule J, Part I, Line 4 Melinda Branscomb, early retirement distribution - $258,330. 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 15077462 0 15420000 0 0 0 342538 0 0 0 0 0 2003 1 0 1 1 23042532 0 23505000 0 0 0 464468 0 0 0 0 0 2005 1 0 1 1 26221275 0 26595000 0 0 0 373725 0 0 0 0 0 2008 1 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 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 Washington Higher Education Facilities Authority 911306482 939781K81 2009-09-30 41775000 Capital Project 0 0 0 0 0 41775000 0 0 0 515109 0 0 41258891 0 0 2010 0 0 1 1 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 Alexander Hutton Venture Partners Kent Johnson, Trustee 146749 The university is an investor in Alexander Hutton Venture Partners LLP. Mr. Johnson is a partner in this company. Amount reported for transaction is the market value of the investment as of June 30, 2011. 0 Erin Sweezy Ms. Sweezy is married to the University's Executive Vice President. 40250 Ms. Sweezy is a member of the faculty of the College of Education. 0 James Tower LLC David Sabey, Trustee 695692 Life science lab and office lease. 0 Kent Johnson Mr. Johnson is a Trustee. 4300 Mr. Johnson is an adjunct professor in the Albers School of Business and Economics. 0 Mary Rolfe Ms. Rolfe is the sister-in-law of Trustee Stuart Rolfe 88200 Ms. Rolfe is employed as an Academic Development Officer in the Office of University Advancement. 0 Sellen Construction Company Rick Redman, Trustee 545085 Law School Annex general construction contract, completed January 4, 2011. 0 Theodore Collins Mr. Collins is a Trustee. 5000 Mr. Collins is an adjunct professor in the School of Law. 0 Kent Johnson Mr. Johnson is a trustee 0 Mr. Johnson is Chairman of the Board of Vera Fitness, Inc. and is an owner of the company. The university has a wellness coaching contract with Vera Fitness, Inc. commencing on May 1, 2012. The contract has a maximum value of $25,000. 0 X 17 3870389 Fair market value 0 0 1 0 F990_P06_S0A_L02 Form 990, Part VI, Section A, Line 2 Trustees Phyllis Campbell and Anne Farrell serve on the board of two non-profit organizations. Trustees James Sinegal, Craig Jelinek and John Meisenbach serve on the board of directors of a business entity. Trustees John Meisenbach and Peter Rose serve on the board of directors of a business entity. 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 ("Members"). F990_P06_S0A_L07a Form 990, Part VI, Section A, Line 7a Currently, there are thirty-two (32) Trustees of the corporation. Three are chosen by 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 object and purpose 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 Interim Vice President for Finance, the Controller, the 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. 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 employs a process for determining compensation of the President, officers, and key employees that 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 person or 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 nationally 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, Vice President for Finance and Business Affairs and other members of the Executive team was most recently reviewed in April 2011. 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_P11_S00_L05 Form 990, Part XI, Line 5 Net unrealized gains on investments. Seattle University filed for, and the Internal Revenue Service granted, an extension to file this return by May 15, 2012.