2012-05-15T14:57:29-05:00 2011-06-30 EIDE BAILLY LLP 200 EAST 10TH STREET PO BOX 5125 SIOUX FALLS SD 571175125 990 2010-07-01 460224600 UNIVERSITY OF SIOUX FALLS UNIV 6053316592 1101 WEST 22ND STREET SIOUX FALLS SD 571051600 MARK BENEDETTO 6053316592 2012-05-15 1 LAURIE HANSON 6053391999 2012-05-15 2010 2016-02-24 21:20:13Z MARK BENEDETTO 1101 WEST 22ND STREET SIOUX FALLS SD 571051600 38683450 0 X WWW.USIOUXFALLS.EDU X 1883 SD AS A CHRISTIAN UNIVERSITY, USF EDUCATES STUDENTS IN THE HUMANITIES, SCIENCES, AND PROFESSIONS. 41 39 781 53 48948 -54692 2899603 2836414 26278133 27941518 617404 150407 992088 129552 30787228 31057891 8963599 9261758 0 0 10633897 11573539 0 0 318504 9456687 10141228 29054183 30976525 1733045 81366 84828786 77225786 38334308 28714148 46494478 48511638 X THE UNIVERSITY OF SIOUX FALLS, A CHRISTIAN UNIVERSITY IN THE LIBERAL ARTS TRADITION, EDUCATES STUDENTS IN THE HUMANITIES, SCIENCES AND PROFESSIONS. THE TRADITIONAL MOTTO OF THE UNIVERSITY IS CULTURE FOR SERVICE, THAT IS, WE SEEK TO FOSTER ACADEMIC EXCELLENCE AND THE DEVELOPMENT OF MATURE CHRISTIAN PERSONS FOR SERVICE TO GOD AND HUMANKIND IN THE WORLD. THROUGH PROGRAMS IN THE HUMANITIES, SCIENCES AND PROFESSIONS, THE UNIVERSITY HELPS PERSONS GROW INTELLECTUALLY, DISCERN TRUTH AND DEVELOP A CHRISTIAN WORLDVIEW. AS A CHRISTIAN INSTITUTION, THE UNIVERSITY OF SIOUX FALLS FOSTERS IN ALL MEMBERS OF ITS COMMUNITY THE DEVELOPMENT OF EMOTIONAL MATURITY, PHYSICAL WELL-BEING, INTERPERSONAL SKILLS AND VALUES WHICH REFLECT THE CHARACTER AND TEACHINGS OF CHRIST. THE UNIVERSITY OF SIOUX FALLS IS COMMITTED TO THE LORDSHIP OF JESUS CHRIST AND TO THE INTEGRATION OF BIBLICAL FAITH AND LEARNING; IT AFFIRMS THAT CHRISTIANS ARE CALLED TO SHARE THEIR FAITH WITH OTHERS THROUGH LIVES OF SERVICE. 0 0 24997647 2829582 28020879 PRIVATE LIBERAL ARTS HIGHER EDUCATION--PROVIDING EDUCATION TO OVER 1,500 STUDENTS WORKING TOWARDS ASSOCIATES, BACHELORS, AND MASTERS DEGREES. 24997647 1 1 0 0 0 0 0 0 1 1 0 0 1 1 1 0 1 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 1 1 0 0 1 36 0 1 781 1 1 1 0 0 0 0 1 1 0 0 X 41 39 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X SUSAN THIE 6053316592 1101 W 22ND ST SIOUX FALLS SD 571051600 DR PAULA O'NEILL-WEEDON 5.00 X X 0 0 0 JOHN LILLIBRIDGE 5.00 X X 0 0 0 DOROTHY JOHNSON CASELLI 5.00 X X 0 0 0 WILLIAM BALLENGER 5.00 X 0 0 0 PAT BARBER 5.00 X 0 0 0 CAPTAIN RICHARD BARCUS 5.00 X 0 0 0 DR FRED BELLUM 5.00 X 0 0 0 LOIS BOICE 5.00 X 0 0 0 DAVE CLEVELAND 5.00 X 0 0 0 DR JOHN COLLIER 5.00 X 0 0 0 SHIRLEY DIAMOND 5.00 X 0 0 0 JAN DEWITT 5.00 X 0 0 0 DR CAROL EVANS 5.00 X 0 0 0 DR ROGER FREDRIKSON 5.00 X 0 0 0 RICHARD GARSIDE 5.00 X 0 0 0 PAUL HAMMOND 5.00 X 0 0 0 MARY HULL 5.00 X 0 0 0 DAN HYLLAND 5.00 X 0 0 0 MERLE JOHNSON 5.00 X 0 0 0 SUSAN KUHN 5.00 X 0 0 0 ROBERT R LARSEN MD 5.00 X 0 0 0 TOM LILLIBRIDGE 5.00 X 0 0 0 BARBARA MCMURCHIE 5.00 X 0 0 0 MAX MERRY 5.00 X 0 0 0 REV STANLEY MURDOCH 5.00 X 0 0 0 REV FRANK NELSON 5.00 X 0 0 0 GAYLE NELSON 5.00 X 0 0 0 SUSAN NORBERG 5.00 X 0 0 0 REV SHAWN NORTON 5.00 X 0 0 0 DWIGHT BEUKELMAN 5.00 X 0 0 0 DR GARY OLSON 5.00 X 0 0 0 BETH O'TOOLE 5.00 X 0 0 0 SCOTT RYSDON 5.00 X 0 0 0 DR GORDON A STEWART 5.00 X 0 0 0 DR MARIAN D SULLIVAN 5.00 X 0 0 0 DANIEL TERVEEN 5.00 X 0 0 0 KIMBERLEY THUNE 5.00 X 0 0 0 DR ROBERT L VENINGA 5.00 X 0 0 0 DR RILEY WALKER 5.00 X 0 0 0 FLORETTA WARD 5.00 X 0 0 0 TIENA ZBORNIK 5.00 X 0 0 0 MARK BENEDETTO 50.00 X 193342 0 70918 BRETT BRADFIELD 50.00 X 113777 0 16337 MARSHA DENNISTON 50.00 X 29597 0 3029 JULIE GEDNALSKE 50.00 X 55373 0 3463 JON HIATT 50.00 X 64971 0 14746 BILL BARTELL 40.00 X 58829 0 16194 KAREN SUMNER 40.00 X 46825 0 11068 CHRISTOPHER BOUWMAN THROUGH 73110 40.00 X 46504 0 10936 GREG FRITZ THROUGH 101510 50.00 X 75157 0 14475 JEFF VELTKAMP 40.00 X 59773 0 12585 BARBARA VELLENGA 40.00 X 121977 0 17186 BETH JERNBERG 40.00 X 101568 0 13389 967693 0 204326 4 0 1 0 SIOUX FALLS CONSTRUCTION 800 S 7TH AVE SIOUX FALLS SD 57104 CONSTRUCTION 1797100 ARAMARK CAMPUS SERVICES 1101 MARKET ST PHILADELPHIA PA 19107 FOOD SERVICE 1126416 EIIA 200 S WACKER DR SUITE 1000 CHICAGO IL 60606 INSURANCE 302438 ARAMARK HIGHER ED FACILITIES 1101 MARKET ST PHILADELPHIA PA 19107 MAINTENANCE CONTRACTOR 250419 FIRST ADMINISTRATORS 1331 GRAND AVENUE DES MOINES IA 50306 INSURANCE 243626 8 6832 1015920 1813662 180897 2836414 TUITION AND FEES 611600 24422650 24422650 STUDENT HOUSING 611710 1496122 1496122 FOOD SERVICE 611710 1169499 1169499 OTHER INCOME 541800 853247 804299 48948 27941518 213177 213177 7023270 7086040 -62770 -62770 -62770 9594 6832 8351 1243 1243 659477 531168 128309 128309 31057891 28020879 48948 151650 9261758 9261758 903177 235009 521802 146366 8151214 6055402 2017338 78474 2519148 1657244 858264 3640 52957 52957 11665 11665 76564 76564 154121 127848 26273 1396587 971968 423844 775 265740 265740 921133 875422 43826 1885 632719 515421 110045 7253 51581 36819 14762 877697 875723 1974 2339241 1954081 359105 26055 102455 102455 CONTRACTUAL 1405141 1066862 326279 12000 INSTITUTIONAL SUPPORT 764437 582557 173820 8060 REPAIRS/MAINTENANCE 491273 282626 208331 316 ACADEMIC SUPPORT 340078 340078 SPECIAL EVENTS 125351 34061 89815 1475 132488 22313 77970 32205 30976525 24997647 5660374 318504 1723730 157200 2284162 3556821 2332154 1306739 708203 864129 1646403 1484618 138052 171269 691430 463961 69738097 19986791 50196994 49751306 7793739 10123281 9669242 1787959 7644642 7558503 84828786 77225786 2896165 2461553 1565726 1578644 5084903 4841526 25560000 17395000 547045 327241 2680469 2110184 38334308 28714148 X 33345412 33641575 5996634 7375937 7152432 7494126 46494478 48511638 84828786 77225786 X 81366 1935794 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12617166 182975 1832692 203130 117699 14312004 11118364 276456 1747671 525325 12617166 14557534 400997 -3058541 781626 11118364 0.03000 0.55000 0.42000 1 1 0 8447244 8447244 48739223 12212538 36526685 12506807 7774253 4732554 44823 44823 49751306 CASH SURRENDER VALUE 651110 INTEREST IN PERPETUAL TRUSTS 1080442 DUE FROM RELATED ORGANIZATION 5826951 7558503 INTEREST RATE SWAP 734971 DUE TO RELATED PARTY 1375213 2110184 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: TO ADVANCE AND SUPPORT EDUCATION BY PROVIDING ASSISTANCE TO, AND BENEFITS FOR, THE UNIVERSITY OF SIOUX FALLS AND ITS STUDENTS, FACULTY AND PROGRAMS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: MANAGEMENT EVALUATES ITS TAX POSITIONS ON AN ANNUAL BASIS AND HAS DETERMINED THERE ARE NO UNCERTAIN TAX POSITIONS AT JUNE 30, 2011 AND 2010, THAT MEET THE CRITERIA FOR RECOGNITION IN THE FINANCIAL STATEMENTS. AS OF JUNE 30, 2011 AND 2010, THERE WAS NO UNRECOGNIZED TAX BENEFIT ACCRUAL RECORDED. THE UNIVERSITY IS SUBJECT TO TAX EXAMINATIONS AND WILL RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED. 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 UNIVERSITY BROCHURES, CATALOGS, ADVERTISING, ETC. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE UNIVERISTY PARTICIPATES IN THE FEDERAL GOVERNMENT STUDENT FINANCIAL AID PROGRAMS AND RECEIVES OTHER VARIOUS FEDERAL GRANTS. PARTICIPATION IN THE STUDENT FINANCIAL AID PROGRAMS IS AS FOLLOWS: PERKINS LOANS, COLLEGE WORK-STUDY, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS, PELL GRANTS, AND STAFFORD LOANS. CHAMPIONS GOLF TOURNEY 11250 5625 5625 3996 1594 COMMUNITY 5K RUN 5176 1207 3969 400 2361 16426 6832 9594 400 3996 1594 2361 8351 1243 1 UNFUNDED INSTITUTIONAL AID 959 8472531 CASH INSTITUTIONAL AID 236 126175 ENDOWED SCHOLARSHIPS 261 299838 FEDERAL SCHOLARSHIPS 258 355599 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: FOR FEDERAL AND PASS-THROUGH GRANTS FOR PROGRAMS, EACH GRANT HAS A GRANT MANAGER. ON A MONTHLY BASIS, THE BUSINESS OFFICE RECONCILES EXPENSES INCURRED FOR EACH GRANT AND VERIFIES WITH THE RESPECTIVE GRANT MANAGER. ONCE CONFIRMED, THE BUSINESS OFFICE REQUESTS REIMBURSEMENT FROM THE RESPECTIVE AWARDING AGENCY. FOR SCHOLARSHIPS, FINANCIAL AID REVIEWS THE SPECIFIC CRITERIA FOR AWARDING TO STUDENTS. THE BUSINESS OFFICE DOES A RECONCILIATION OF EXPENSES (FINANCIAL AID AWARDED) BEFORE DRAWING DOWN ACTUAL DOLLARS FROM THE ENDOWMENT (BOTH THE UNIVERSITY OF SIOUX FALLS AND THE UNIVERSITY OF SIOUX FALLS FOUNDATION) AND FEDERAL FINANCIAL AID. FOR PROGRAMS, THERE ARE TWO DIFFERENT METHODS USED. SOME PROGRAMS HAVE "BUDGET MANAGERS" WHO ARE AWARE OF THE FUNDS AVAILABLE VIA THE BUSINESS OFFICE AND SPEND ACCORDINGLY. FOR THOSE PROGRAMS WITHOUT "BUDGET MANAGERS" AND FOR UNRESTRICTED ENDOWMENTS, THE BUSINESS OFFICE ENSURES THAT THERE ARE EXPENSES INCURRED IN THOSE SPECIFIC DEPARTMENTS BEFORE DRAWING DOWN ACTUAL DOLLARS. IN ALL CASES FOR THE ENDOWMENTS, THE BUSINESS OFFICE DOES A RECONCILIATION TO ENSURE THAT THE PROPER DOLLAR AMOUNT IS CALCULATED, AWARDED/EXPENSED, AND DRAWN DOWN. X 0 1 X X X X 1 0 0 0 0 0 0 0 0 MARK BENEDETTO 193342 0 0 0 0 0 25725 0 47499 0 266566 0 0 0 PART I, LINE 1A THE PRESIDENT IS A MEMBER OF THE CLERGY AND THE HOUSING ALLOWANCE IS TREATED ACCORDING TO THE HOUSING ALLOWANCE RULES FOR CLERGY. PART I, LINE 1B THE PRESIDENT IS A MEMBER OF THE CLERGY AND THE HOUSING ALLOWANCE IS TREATED ACCORDING TO THE HOUSING ALLOWANCE RULES FOR CLERGY. THE ALLOWANCE IS NOT PART OF HIS CONTRACT BUT A PORTION OF HIS BASE PAY THAT IS CLASSIFIED SEPARATELY SINCE HE IS A MEMBER OF THE CLERGY. PART I, LINE 4A CHRIS BOUWMAN $16,625 SEVERANCE PAY GREG FRITZ $5,455 SEVERANCE PAY SOUTH DAKOTA HEALTH AND EDUCATIONAL FACILITIES AUTHORITY 460315509 NONEAVAIL 2010-05-28 18000000 REFUNDING AND CONSTRUCTIONS 0 0 0 18000000 7992942 300000 5313117 2026150 2010 1 0 0 1 0 0 0 0 1 1 0 1 0 0 0 1 NOT REQUIRED CHILD OF TRUSTEE 6000 MERIT SCHOLARSHIP NOT REQUIRED CHILD OF TRUSTEE 13000 DISCOUNTED TUITION X 7 180897 FMV AT DATE OF GIFT 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE SHALL HAVE NO FEWER THAN NINE MEMBERS ALL OF WHOM ARE TRUSTEES AND SHALL, WHEN THE BOARD IS NOT IN SESSION, HAVE FULL AUTHORITY TO TRANSACT ANY AND ALL BUSINESS OF THE BOARD, IN ACCORDANCE WITH ITS GENERAL POLICIES AS SET OUT IN THESE BYLAWS AND AS MAY BE OTHERWISE DECLARED BY THE BOARD. ISSUES REGARDING THE HIRING AND TERMINATION OF THE PRESIDENT, AND MAJOR ASSET ACQUISITIONS OR SALES, AS A GENERAL RULE, SHOULD BE BROUGHT BEFORE THE FULL BOARD. THE EXECUTIVE COMMITTEE SHALL MEET QUARTERLY AT SUCH TIME AND PLACE AS MAY BE DESIGNATED. FIVE MEMBERS SHALL CONSTITUTE A QUORUM. FORM 990, PART VI, SECTION A, LINE 2 JOHN LILLIBRIDGE AND TOM LILLIBRIDGE, BOTH TRUSTEES, HAVE A FAMILY RELATIONSHIP AND A BUSINESS RELATIONSHIP. JAN DEWITT AND JIM DEWITT, BOTH TRUSTEES, HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 MANAGEMENT (INCLUDING 2 CPA'S ON STAFF) REVIEWS FORM 990 BEFORE IT IS FILED. A COPY OF THE 990 IS PROVIDED TO THE GOVERNING BODY THROUGH THE UNIVERSITY'S WEBSITE PRIOR TO THE RETURN BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C PROCEDURES FOR IDENTIFYING CONFLICT OF INTEREST: A COPY OF THE POLICY IS MADE AVAILABLE TO ALL BOARD OF TRUSTEES, FOUNDATION BOARD OF DIRECTORS, AND MEMBERS OF MANAGEMENT BY THE COMPLIANCE OFFICER. THE COMPLIANCE OFFICER WILL ENSURE THAT ALL FORMS ARE COMPLETED AND RETURNED AND PROVIDE A SUMMARY TO THE USF PRESIDENT. INFORMATION SHARED BEYOND THIS POINT WILL BE GOVERNED BY A BUSINESS, OR ETHICAL, NEED TO DISCLOSE AS DETERMINED BY THE APPROPRIATE BOARD CHAIR, USF PRESIDENT OR THE CORPORATE OFFICER. DERTERMINING WHETHER A CONFLICT OF INTEREST EXISTS: AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, THE BOARD OR COMMITTEE ADDRESSING THE TRANSACTION AT ISSUE SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. PROCEDURES FOR ADDRESSING THE CONFLICT OF INTEREST: AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD OR COMMITTEE MEETING IF APPLICABLE. PRIOR TO THE PRESENTATION, FULL DISCLOSURE OF THE POTENTIAL CONFLICT OF INTEREST MUST BE MADE TO THE INDIVIDUALS HEARING THE PRESENTATION. AFTER SUCH PRESENTATION, HE/SHE IS NOT TO PARTICIPATE IN THE VOTE ON THE TRANSACTION OR ARRANGEMENT THAT RESULTS IN THE CONFLICT OF INTEREST. THE PRESIDENT AND/OR BOARD CHAIR, ALONG WITH THOSE INDIVIDUALS THEY DEEM TO BE APPROPRIATE TO THE DECISION, SHALL DETERMINE WHETHER THE TRANSACTION OR ARRANGEMENT IS IN USF'S BEST INTEREST AND FOR ITS OWN BENEFIT AND WHETHER THE TRANSACTION IS FAIR AND REASONABLE. THEY SHALL THEN MAKE THE DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT IN CONFORMITY WITH SUCH DETERMINATION. FORM 990, PART VI, SECTION B, LINE 15A THE PERSONNEL COMMITTEE OF THE BOARD OF TRUSTEES ACTS ON BEHALF OF THE FULL BOARD. THE COMMITTEE REVIEWS A CCCU COMPENSATION SURVEY TO ASSIST WITH DRAFTING A COMPENSATION PACKAGE. THE COMPENSATION PACKAGE IS THEN VOTED ON BY THE PERSONNEL COMMITTEE. THE PROCESS IS UNDERTAKEN ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE FOR INSPECTION UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 1,292,637. PRIOR PERIOD ADJUSTMENTS: -46,339. FAIR VALUE OF INTEREST RATE SWAPS 171,932. VALUE OF CASH SURRENDER LIFE INSURANCE 6,333. DEVELOPMENT OFFICE - CHANGE IN VALUE 352,265. NET ASSETS RELEASED FROM RESTRICTION 158,966. TOTAL TO FORM 990, PART XI, LINE 5: 1,935,794. UNIVERSITY OF SIOUX FALLS FOUNDATION 1101 W 22ND ST SIOUX FALLS SD 57105 460439977 FUNDRAISING SD 501(C)(3) 11A UNIVERSITY OF SIOUX FALLS 1 0 0 1 1 1 0 0 0 0 0 1 0 1 1 0 1 1 0 UNIVERSITY OF SIOUX FALLS FOUNDATION C 142483 CASH UNIVERSITY OF SIOUX FALLS FOUNDATION D 202369 CASH UNIVERSITY OF SIOUX FALLS FOUNDATION P 49440 CASH UNIVERSITY OF SIOUX FALLS FOUNDATION Q 57759 CASH