2012-03-01T10:45:14-06:00 2011-06-30 CROWE HORWATH LLP 10 West Broad Street Suite 1700 Columbus OH 432153713 990 2010-07-01 314379435 CAPITAL UNIVERSITY CAPI 6142366813 1 College and Main Columbus OH 43209 SUSAN E TATE 2012-01-27 true 6144690001 2010 2016-02-24 21:20:13Z DENVY A BOWMAN 1 College and Main Columbus OH 43209 122877238 false X WWW.CAPITAL.EDU X 1830 OH PROVIDE PERSONAL GROWTH BY ENCOURAGING, ENABLING AND CELEBRATING LEARNING; PREPARE INDIVIDUALS TO BE KNOWLEDGEABLE, INDEPENDENT, CRITICAL THINKERS; INSPIRE INDIVIDUALS TO BE MORALLY REFLECTIVE. 35 33 2098 34 0 0 4437244 5017805 100279427 106452084 7073000 2369461 231720 349670 112021391 114189020 34187089 37638908 0 0 46824735 46500020 0 0 2028546 24227986 25736103 105239810 109875031 6781581 4313989 193700111 206752897 54818356 52513390 138881755 154239507 X PROVIDE PERSONAL GROWTH BY ENCOURAGING, ENABLING & CELEBRATING LEARNING; PREPARE INDIVIDUALS TO BE KNOWLEDGEABLE, INDEPENDENT, CRITICAL THINKERS; INSPIRE INDIVIDUALS TO BE MORALLY REFLECTIVE, SPIRITUALLY ALIVE & CIVICALLY ENGAGED. false 55781479 33983793 71396209 CAPITAL UNIVERSITY PROVIDES ACADEMIC OPPORTUNITIES TO 2,500 STUDENTS IN ITS UNDERGRADUATE PROGRAMS. THE UNIVERSITY OFFERS FIVE UNDERGRADUATE DEGREES WITH MORE THAN 70 MAJORS, TAUGHT BY MORE THAN 200 FULL-TIME GRADUATE AND UNDERGRADUATE FACULTY. MORE THAN 2100 STUDENTS RECEIVE INSTITUTIONAL FINANCIAL ASSISTANCE IN THE FORM OF SCHOLARSHIPS AND GRANTS. SINCE CAPITAL IS IN A METROPOLITAN SETTING IN THE COLUMBUS SUBURB OF BEXLEY, STUDENTS ENJOY MANY ACADEMIC, CULTURAL, RECREATIONAL AND SOCIAL ACTIVITIES. THE ACADEMIC EXPERIENCE AT CAPITAL INCLUDES A RICH VARIETY OF INTERNSHIPS AND EDUCATIONAL OPPORTUNITIES FOR STUDENTS IN COOPERATION WITH NATIONAL CORPORATIONS, HEALTH AND OTHER NON-PROFIT AGENCIES AND GOVERNMENTAL OFFICES. 15703670 3655115 23246818 CAPITAL UNIVERSITY PROVIDES ACADEMIC OPPORTUNITIES TO 840 STUDENTS IN ITS GRADUATE DEGREE PROGRAMS. THE UNIVERSITY OFFERS NINE GRADUATE DEGREES IN LAW, TAXATION, BUSINESS, NURSING AND MUSIC. MORE THAN 400 GRADUATE STUDENTS RECEIVE INSTITUTIONAL FINANCIAL ASSISTANCE IN THE FORM OF SCHOLARSHIPS AND GRANTS. IN ADDITION TO THE GRADUATE PROGRAMS HOUSED ON THE MAIN CAMPUS IN THE SUBURB OF BEXLEY, THE CAPITAL UNIVERSITY LAW SCHOOL IS LOCATED IN DOWNTOWN COLUMBUS, PROVIDING STUDENTS THE PROSPECT OF ENHANCING THEIR EDUCATION THROUGH INTERNSHIPS AND OTHER OPPORTUNITIES WITH FEDERAL, STATE AND COUNTY AGENCIES, AND WITH LAW FIRMS IN OHIO'S CAPITAL CITY. 11171756 249824 THE UNIVERSITY PROVIDES ADDITIONAL SERVICES TO ITS STUDENTS TO SUPPORT AND ENHANCE THE EDUCATIONAL EXPERIENCE. THESE INCLUDE THE SERVICES OF THE ADMISSION OFFICE, REGISTRAR, CAMPUS PASTOR, MEDICAL CLINIC, CAREER SERVICES, STUDENT GOVERNMENT, GREEK LIFE, STUDENT NEWSPAPER AND LITERARY MAGAZINE, MULTICULTURAL AFFAIRS, INTERNATIONAL EDUCATION, INTRAMURALS AND VARSITY ATHLETICS. CAPITAL STUDENTS STUDIED IN MEXICO, EUROPE, CENTRAL AMERICA AND ASIA WITH FINANCIAL ASSISTANCE FROM THE UNIVERSITY. IN ADDITION TO MANY INTRAMURAL ACTIVITIES IN AND AROUND THE 126,000-SQUARE-FOOT CAPITAL CENTER, THE UNIVERSITY FIELDS 18 MEN'S AND WOMEN'S VARSITY TEAMS. 17839604 11627409 PUBLIC SERVICE AND INSTITUTIONAL SUPPORT 17839604 11627409 100496509 true true false false false false true false true true true false false true true true false true false true false true false false false false false true true true false false false false false false true false true false true false false false false false false false false false true 5753 0 true 2098 true false false false false false false false false false false X 35 33 true false true false false false false true true false false true true true true true true true true false X Toni Streit 6142366292 1 COLLEGE and MAIN COLUMBUS OH 432092394 MARK STRASSER 50 X 183363 0 38170 ROBERTA MITCHELL 50 X 182326 0 25642 DAN TURAK 50 X 187311 0 35819 BETTY LOVELACE 60 X 139169 0 21560 JACK GUTTENBERG 60 X 203901 0 36790 RICHARD LOMBARDI 2 X 0 0 0 DENVY BOWMAN 60 X X 318121 0 31828 DICK HARTMANN 2 X 0 0 0 SUSAN TATE 60 X 166678 0 22587 ANDRE PORTER 2 X 0 0 0 EJ THOMAS 2 X 0 0 0 ANN LEAK 2 X 0 0 0 MICHELLE ADAMS 2 X 0 0 0 MARK BROWN 50 X 182824 0 30903 DONNA SMITH 2 X 0 0 0 MIKE CRANE 2 X 0 0 0 JOHN WALKER 2 X 0 0 0 BERNIE OSTROWSKI 2 X 0 0 0 ELIZABETH EATON 2 X 0 0 0 JERRY BAHLMANN 2 X 0 0 0 PATSY THOMAS 2 X 0 0 0 JOHN MEYER 60 X 178936 0 16027 HARRY RADUEGE 2 X 0 0 0 KEN WEIXEL 2 X 0 0 0 LORI MCKIRNAN 60 X 92404 0 16063 BILL HAUEISEN 2 X X 0 0 0 RICH ASHBROOK 60 X 165205 0 34154 KATHY WOLFGRAM 2 X 0 0 0 DICK BOYD 2 X 0 0 0 STEVE WACHTMAN 2 X 0 0 0 TED LONG 2 X 0 0 0 JACQUELINE PRIMEAU 2 X 0 0 0 KAREN MORRISON 2 X 0 0 0 JOHN PHILLIPS 2 X 0 0 0 DENNY FREUDEMAN 2 X X 0 0 0 KEVIN SAYERS 60 X 164103 0 39955 LEE ANNE LOWMAN 2 X X 0 0 0 GARY QUALMANN 2 X 0 0 0 MIKE DAVIS 2 X 0 0 0 DICK WILLIAMS 2 X 0 0 0 CAROL MCWILLIAMS 2 X 0 0 0 TANYA POTEET 60 X 149278 0 13389 JOYCE EDELMAN 2 X 0 0 0 LISA RANKIN 2 X 0 0 0 JOSEPH CARRABBA 2 X 0 0 0 BONNIE GERBER 2 X 0 0 0 JAMES HAVENS 2 X 0 0 0 SUSAN JABLONSKI 2 X 0 0 0 RONALD PIERRE 2 X 0 0 0 MORITZ ZIEGLER 2 X 0 0 0 2313619 0 362887 53 false true false PARKHURST DINING SERVICE PO BOX 644091 PITTSBURGH PA 15264 DINING/FOOD SERVICE 2729165 AETNA BUILDING MAINTENANCE PO BOX 636290 CINCINNATI OH 452636290 CUSTODIAL SERVICES 1407327 TURNER CONSTRUCTION COMPANY 250 E WILSON BRIDGE ROAD WORTHINGTON OH 43085 ELEVATOR CONSTRUCTION WORK 1371542 OLOGIE LLC 447 E MAIN ST COLUMBUS OH 43215 BRANDING/MARKETING 480825 ROSLOVIC & PARTNERS INC 600 MORRISON ROAD GAHANNA OH 43230 PROFESSIONAL SERVICES 472913 20 11760 1228579 3777466 163750 5017805 EDUCATIONAL PROGRAMS- UNDERGRADUATE 71396208 71396208 EDUCATIONAL PROGRAMS- GRADUATE 23246818 23246818 AUXILIARIES 10305486 10305486 GENERAL EDUCATIONAL PROGRAMS 1090693 1090693 BOOKSTORE REVENUE 163055 163055 249824 249824 0 0 106452084 1683005 1683005 0 0 355107 76115 278992 0 278992 278992 9298231 8611775 686456 0 686456 686456 850 11760 328 522 522 0 0 MISCELLANEOUS REVENUE 37078 35098 1980 VARIOUS PROGRAM FEES 33078 33078 0 0 0 0 70156 114189020 106520260 0 2650955 0 37305101 37305101 333807 333807 0 1331759 1037542 115282 178935 36433 36433 33510389 29220101 3246678 1043610 2634746 2274193 252688 107865 6370736 5506988 611887 251861 2615957 2267215 251913 96829 0 31436 31436 79567 79567 0 0 284899 284899 7322720 6524477 724942 73301 441123 396347 44039 737 2409759 2044655 227184 137920 1240256 1116230 124026 0 3613552 3252197 361355 1194585 1016060 112896 65629 0 1508982 1326200 147356 35426 496002 446402 49600 0 6059488 5453539 605949 449645 404681 44964 BAD DEBT EXPENSE 267983 267983 INSTRUCTIONAL EXPENSE 229743 206769 22974 OTHER INDIRECT EXPENSES 106363 96022 10341 0 0 0 0 109875031 100496509 7349976 2028546 0 12643197 15537892 1176612 1115155 7041660 6868375 58788 72803 942736 666857 168601767 64314611 104400832 104287156 52147430 61271544 9557393 10492385 0 0 5731463 6440730 193700111 206752897 8572122 7466488 3909209 3906448 28820000 28070000 4654963 4614061 8862062 8456393 54818356 52513390 X 91776133 101277259 9488371 13888866 37617251 39073382 138881755 154239507 193700111 206752897 X 4313989 11043763 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 1646988 X X X false 53014827 1431755 10273162 1215854 1327022 228049 61948819 49443635 1027878 5430949 1184102 1494156 209377 53014827 60475993 2236438 -10487927 1046439 1538577 195853 49443635 0.24100 0.75900 0.00000 true false 11283610 11283610 87372604 35795801 51576803 22974454 7303293 15671161 35629557 18744640 16884917 11341542 2470877 8870665 104287156 0 0 HIRTLE CALLAGHAN TOTAL RETURN & ABSOLUTE RETURN OFFSHORE FUNDS 6388150 F HIRTLE CALLAGHAN PRIVATE EQUITY FUNDS 4090534 F REAL ESTATE 13701 C 10492385 0 AGENCY FUNDS HELD FOR OTHERS 153298 ANNUITIES PAYABLE 1276619 POSTRETIREMENT BENEFIT OBLIGATIONS 1855028 ADVANCES FROM GOVERNMENT FOR STUDENT LOANS 5171448 8456393 114189020 109875031 4313989 10757320 286443 11043763 15357752 87602489 10757320 576625 11333945 76268544 284899 37635577 37920476 114189020 72244737 76443 76443 72168294 284899 37421838 37706737 109875031 Collections of art - description of collections Schedule D, Part III, Line 4 THE COLLECTION CONSISTS OF A WIDE-RANGE OF ARTWORK COVERING MORE THAN 2,000 YEARS, FROM MANY CULTURES AND MEDIUMS. THE MISSION OF THE GALLERY IS TO PROMOTE USE AS AN INTEGRAL PART OF THE TEACHING MISSION OF THE UNIVERSITY, AND TO CONTRIBUTE TO INTELLECTUALLY STIMULATING, CREATIVE CULTURE ENVIRONMENT FOR THE UNIVERSITY AND COMMUNITY. Intended uses of endowment funds Schedule D, Part V, Line 4 ENDOWMENT FUNDS PROVIDE SUPPORT FOR STUDENT SCHOLARSHIPS, SUPPORT FOR GENERAL OPERATIONS, AND SUPPORT FOR SPECIFIC PROGRAMS IDENTIFIED BY DONORS. FIN 48 (ASC 740) footnote Schedule D, Part X, Line 2 THE INTERNAL REVENUE SERVICE HAS RULED THAT CAPITAL UNIVERSITY IS A TAX-EXEMPT EDUCATIONAL INSTITUTION UNDER §501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN §501 (C)(3). GENERALLY ACCEPTED ACCOUNTING PRINCIPLES PRESCRIBES RECOGNITION THRESHOLDS AND MEASUREMENT ATTRIBUTES FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. TAX BENEFITS WILL BE RECOGNIZED ONLY IF A TAX POSITION IS MORE-LIKELY-THAN-NOT SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED WILL BE THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE MORE-LIKELY-THAN-NOT TEST, NO TAX BENEFIT WILL BE RECORDED. MANAGEMENT HAS CONCLUDED THAT THEY ARE UNAWARE OF ANY TAX BENEFITS OR LIABILITIES TO BE RECOGNIZED AT JUNE 30, 2011 OR 2010, RESPECTIVELY. THE UNIVERSITY WOULD RECOGNIZE INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST AND INCOME TAX EXPENSE, RESPECTIVELY. THE UNIVERSITY HAS NO AMOUNTS ACCRUED FOR INTEREST OR PENALTIES FOR THE YEAR ENDED JUNE 30, 2011 OR 2010, RESPECTIVELY. THE UNIVERSITY IS NO LONGER SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR YEARS BEFORE 2008. THE UNIVERSITY DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS TO SIGNIFICANTLY CHANGE IN THE NEXT 12 MONTHS. Other changes in net assets Schedule D, Part XI, Line 8 POSTRETIREMENT BENEFIT OBLIGATION RELATED CHANGES OTHER THAN PERIODIC COSTS - 500182; ACTUARIAL CHANGE IN ANNUITY LIABILITY - -213739; Other revenues in audited financial statements not in form 990 Schedule D, Part XII, Line 2d RENTAL EXPENSE - 76115; POSTRETIREMENT BENEFIT OBLIGATION RELATED CHANGES OTHER THAN PERIODIC COSTS - 500182; FUNDRAISING EXPENSE - 328; Other revenues in form 990 not in audited financial statements Schedule D, Part XII, Line 4b ACTUARIAL CHANGE IN ANNUITY LIABILITY - 213739; STUDENT FINANCIAL AID - 37421838; Other expenses in audited financial statements not in form 990 Schedule D, Part XIII, Line 2d RENTAL EXPENSES - 76115; FUNDRAISING EXPENSE - 328; Other expenses in form 990 not in audited financial statements Schedule D, Part XIII, Line 4b STUDENT FINANCIAL AID - 37421838; true true true true true true true false false false false false false false false true false true Financial aid or assistance from a governmental agency Schedule E, Line 6a THE UNIVERSITY RECEIVES FINANCIAL ASSISTANCE FROM THE US GOVERNMENT IN CONNECTION WITH PERKINS STUDENT LOANS, NURSING STUDENT LOANS, COLLEGE WORK-STUDY, PELL GRANTS AND SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT PROGRAMS. CAPITAL UNIVERSITY ALSO RECEIVES SUPPORT FROM THE STATE OF OHIO FOR SIMILAR AID PROGRAMS. true EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 GRANTS STUDY ABROAD 250453 CENTRAL AMERICA AND THE CARIBBEAN 0 0 GRANTS STUDY ABROAD 7995 EAST ASIA AND THE PACIFIC 0 0 GRANTS STUDY ABROAD 45684 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 PROGRAM SERVICES STUDENT & FACULTY TRAVEL FOR FIELD TRIPS AND RESEARCH 3407 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STUDENT & FACULTY TRAVEL FOR FIELD TRIPS AND RESEARCH 34130 NORTH AMERICA (CANADA & MEXICO ONLY) 0 0 PROGRAM SERVICES STUDENT & FACULTY TRAVEL FOR FIELD TRIPS AND RESEARCH 2061 SUB SAHARAN AFRICA 0 0 PROGRAM SERVICES STUDENT & FACULTY TRAVEL FOR FIELD TRIPS AND RESEARCH 1123 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDENT & FACULTY TRAVEL FOR FIELD TRIPS AND RESEARCH 3000 SOUTH ASIA 0 0 GRANTS STUDY ABROAD 16825 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PASSIVE INVESTMENTS 9169000 NORTH AMERICA (CANADA & MEXICO ONLY) 0 0 GRANTS STUDY ABROAD 12850 0 0 9546528 FINANCIAL AID TO SUPPORT STUDY ABROAD EUROPE (INCLUDING ICELAND AND GREENLAND) 22 250453 CHECK FINANCIAL AID TO SUPPORT STUDY ABROAD EAST ASIA AND THE PACIFIC 4 45384 CHECK FINANCIAL AID TO SUPPORT STUDY ABROAD CENTRAL AMERICA AND THE CARIBBEAN 1 7995 CHECK FINANCIAL AID TO SUPPORT STUDY ABROAD SOUTH ASIA 1 16825 CHECK FINANCIAL AID TO SUPPORT STUDY ABROAD NORTH AMERICA (CANADA & MEXICO ONLY) 1 12850 CHECK true false false true false false Procedures for monitoring use of grant funds Schedule F, Part I, Line 2 ALL STUDENTS ELECTING TO PARTICIPATE IN A STUDY ABOARD PROGRAM ARE AWARDED FINANCIAL AID GRANTS AND OTHER AID BASED ON THE COST OF ATTENDANCE AND FEDERAL NEED CALCULATIONS. ALL GRANT FUNDS TO SUPPORT THESE STUDENTS ARE REMITTED DIRECTLY TO THE HOST INSTITUTION TO BE APPLIED TO THE STUDENTS' PROGRAM CHARGES. true ENDOWED SCHOLARSHIPS - UNDERGRADUATE 561 1265813 0 NA NA INSTITUTIONAL RESTRICTED SCHOLARSHIPS - UNDERGRADUATE 76 108757 0 NA NA MUSIC SCHOLARSHIP - UNDERGRADUATE 247 2934930 0 NA NA COLLEGIATE FELLOWSHIP AWARDS - UNDERGRADUATE 42 1318653 0 NA NA PRESIDENTIAL SCHOLARSHIP - UNDERGRADUATE 1733 15903242 0 NA NA GRANT IN AID & OTHER INSTITUTIONAL AID - UNDERGRADUATE 2071 12118591 0 NA NA ENDOWED SCHOLARSHIPS - GRADUATE 46 69575 0 NA NA INSTITUTIONAL RESTRICTED SCHOLARSHIPS - GRADUATE 8 415572 0 NA NA GRANT IN AID & OTHER INSTITUTIONAL AID - GRADUATE 353 3169968 0 NA NA Procedures for monitoring use of grant funds Schedule I, Part I, Line 2 THE UNIVERSITY AWARDS ONLY FINANCIAL AID GRANTS TO ENROLLED STUDENTS. GRANTS ARE CREDITED TO THE RECIPIENTS' ACCOUNTS FOR TUITION, FEES, ROOM AND BOARD. X X true true X X X false false false false false false false false false MARK STRASSER 181880 0 0 0 1483 0 15168 0 23002 0 221533 0 0 0 ROBERTA MITCHELL 177637 0 0 0 4689 0 16062 0 9580 0 207968 0 0 0 DAN TURAK 183875 0 0 0 3436 0 16980 0 18839 0 223130 0 0 0 BETTY LOVELACE 138011 0 0 0 1158 0 12647 0 8913 0 160729 0 0 0 JACK GUTTENBERG 202002 0 0 0 1899 0 17950 0 18840 0 240691 0 0 0 DENVY BOWMAN 276919 0 0 0 41202 0 22050 0 9778 0 349949 0 0 0 SUSAN TATE 165242 0 0 0 1436 0 14924 0 7663 0 189265 0 0 0 MARK BROWN 181936 0 0 0 888 0 16710 0 14193 0 213727 0 0 0 JOHN MEYER 176560 0 0 0 2376 0 15750 0 277 0 194963 0 0 0 RICH ASHBROOK 164410 0 0 0 795 0 15315 0 18839 0 199359 0 0 0 KEVIN SAYERS 163793 0 0 0 310 0 15249 0 24706 0 204058 0 0 0 TANYA POTEET 148846 0 0 0 432 0 13112 0 277 0 162667 0 0 0 Housing allowance or residence for personal use Schedule J, Part I, Line 1a THE PRESIDENT OF THE UNIVERSITY RECEIVES MONTHLY HOUSING, AUTO AND PHONE ALLOWANCES. ALL ALLOWANCES ARE TREATED AS TAXABLE COMPENSATION. Health or social club dues or initiation fees Schedule J, Part I, Line 1a THE UNIVERSITY PROVIDES A SOCIAL CLUB MEMBERSHIP TO THE PRESIDENT. THIS PROVIDES A FACILITY FOR HOSTING UNIVERSITY RELATED EVENTS AND AS SUCH IS NOT TREATED AS TAXABLE COMPENSATION SINCE IT IS USED STRICTLY FOR BUSINESS PURPOSES. OHIO HIGHER EDUCATIONAL FACILITY COMMISSION 346849674 67756BSK7 2006-10-31 30850000 CONSTRUCTION AND IMPROVEMENTS false false false 0 0 30998481 0 0 0 343331 85915 0 17153809 0 0 2007 true false true true false false false false true 0.0041 0.0000 0.0041 true false true false NA false false false NA false true SEE STATEMENT 2750 DON WACHTMAN FATHER OF TRUSTEE STEVE WACHTMAN 36433 COMPENSATION false AMOUNT OF GRANT AND TYPE OF ASSISTANCE SCHEDULE L, PART III, COLUMN C $2,750 DISCOUNTED TUITION X 19 105488 MARKET VALUE X MERCHANDISE 40 20262 COST X USED EQUIPMENT 2 38000 DONOR PROVIDED 0 false true false Description of other program services Form 990, Part III, Line 4d PUBLIC SERVICE AND INSTITUTIONAL SUPPORT Family/business relationships amongst interested persons Form 990, Part VI, Section A, Line 2 MIKE CRANE AND GARY QUALMANN - BUSINESS RELATIONSHIP Significant changes to organizational documents Form 990, Part VI, Section A, Line 4 ON JUNE 6, 2011, THE BOARD OF TRUSTEES APPROVED THE AMENDED CAPITAL UNIVERSITY BYLAWS. THE AMENDED BYLAWS INTEGRATED THE BOARD CONSTITUTION AND THE BYLAWS INTO A SINGLE GOVERNING DOCUMENT THAT ENCOMPASSES THE PROCEDURES OF THE BOARD AND BEST PRACTICES OF BOARD GOVERNANCE. THE NEW BYLAWS MAKE SEVERAL CHANGES INCLUDING THE FOLLOWING: - CLARIFIES THE DUTIES OF THE BOARD AND PROVIDES AN ILLUSTRATIVE LIST OF POWERS AND DUTIES; - CREATES A PROCESS FOR REMOVAL OF A TRUSTEE; - EXPANDS THE DEFINITION OF OFFICERS OF THE UNIVERSITY TO INCLUDE THE BOARD CHAIR, VICE CHAIR, TREASURER, ASSISTANT TREASURER, SECRETARY, ASSISTANT SECRETARY, AND THE VICE PRESIDENTS; - CREATES AN ANNUAL MEETING AT WHICH THE TERMS OF THE OFFICERS BEGIN AND THE TERMS OF NEW AND REELECTED TRUSTEES BEGIN; - CLARIFIES THE ROLE AND RESPONSIBILITIES OF THE PRESIDENT AND CLEARLY STATES THAT THIS AUTHORITY IS VESTED THROUGH THE BOARD; - CLARIFIES THAT THE AUTHORITY OF THE VICE PRESIDENTS IS DETERMINED BY THE PRESIDENT IN CONSULTATION WITH THE BOARD; - DENOTES THAT A QUORUM IS A MAJORITY (FOR THE BOARD AND FOR BOARD COMMITTEES) AND THAT PROPER ACTION OCCURS WITH A MAJORITY VOTE OF A QUORUM; - CREATES A PROCESS FOR BOARD ACTION WITHOUT A FORMAL MEETING (SUCH AS THROUGH MAIL, EMAIL, FAX, CONFERENCE CALL); - STATES THE DUTIES OF THE GOVERNANCE AND AUDIT COMMITTEES, WHICH WERE FORMERLY STATED IN THE BOARD APPROVED COMMITTEE CHARTERS; - REAFFIRMS THE BOARD'S AUTHORITY TO CREATE THE STRUCTURE OF THE UNIVERSITY AND ITS COLLEGES OR DIVISIONS; - UPDATES THE UNIVERSITY'S NONDISCRIMINATION POLICY TO CURRENT PRACTICE; - UPDATES THE UNIVERSITY'S INDEMNIFICATION POLICY TO BE CONSISTENT WITH STATE LAW; - REFERENCES THE EXISTENCE OF A UNIVERSITY CONFLICT OF INTEREST POLICY; AND - CREATES A PERIODIC REVIEW PROCESS FOR THE BYLAWS. Review of form 990 by governing body Form 990, Part VI, Section B, Line 11b THE FORM 990 IS REVIEWED BY MANAGEMENT AND PRESENTED TO THE MEMBERS OF THE AUDIT COMMITTEE BY THE PAID TAX PREPARER ON JANUARY 27, 2012. AFTER THE REVIEW BY THE AUDIT COMMITTEE, EACH BOARD MEMBER IS PROVIDED A FULL COPY OF THE RETURN PRIOR TO ITS ELECTRONIC FILING WITH THE INTERNAL REVENUE SERVICE. Conflict of interest policy Form 990, Part VI, Section B, Line 12c THE CONFLICT OF INTEREST POLICY COVERS TRUSTEES AND OFFICERS (ALL UNIVERSITY OFFICERS, KEY EMPLOYEES AND BUDGET MANAGERS). THE POLICY REQUIRES TRUSTEES AND OFFICERS TO ACT IN THE BEST INTERESTS OF THE UNIVERSITY, SIGN THE CONFLICT OF INTEREST POLICY ANNUALLY, AND FULLY DISCLOSE ANY CONFLICT. POTENTIAL CONFLICTS ARE REVIEWED AT THE LEVEL OF THE GOVERNANCE COMMITTEE OF THE BOARD OF TRUSTEES, WHICH MAY CONSULT WITH OTHER COMMITTEES OF THE BOARD IF NECESSARY. IF A CONFLICT EXISTS, THE PERSON WITH THE CONFLICT MUST ABSTAIN FROM INFLUENCING, DELIBERATING OR VOTING ON THE MATTER AND THE ACTION OR TRANSACTION MUST BE DOCUMENTED AS BEING CLEARLY IN THE BEST INTEREST OF THE UNIVERSITY. Process used to establish compensation of top management official Form 990, Part VI, Section B, Line 15a THE COMPENSATION COMMITTEE OF THE BOARD REVIEWS PRESIDENT'S GOALS, ACCOMPLISHMENTS AND EVALUATIONS OF PERFORMANCE. THE BOARD ALSO REFERENCES COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION FOR HUMAN RESOURCES (CUPA-HR) DATA, EVANGELICAL LUTHERAN CHURCH OF AMERICAN (ELCA) PRESIDENTIAL SURVEY AND OTHER SALARY SURVEYS FOR GUIDANCE ON SALARIES FOR LIKE INSTITUTIONS. THIS PROCESS IS FORMALLY DOCUMENTED AND WAS LAST UNDERTAKEN DURING THE CURRENT FISCAL YEAR END. Process used to establish compensation of other officers/key employees Form 990, Part VI, Section B, Line 15b THE COMPENSATION COMMITTEE OF THE BOARD REVIEWS FORMAL EVALUATIONS DONE BY THE PRESIDENT FOR ALL VICE-PRESIDENTS. THE COMMITTEE REVIEWS GOALS, ACCOMPLISHMENTS, THE PRESIDENT'S RECOMMENDATIONS, AND CUPA-HR SALARY SURVEY DATA TO DETERMINE THE APPROPRIATE SALARIES TO BE GIVEN. THE PROCESS IS FORMALLY DOCUMENTED AND WAS LAST UNDERTAKEN DURING THE CURRENT FISCAL YEAR END. Public Disclosure Form 990, Part VI, Section C, Line 19 A COPY OF THE AUDITED FINANCIAL STATEMENTS ARE POSTED ON THE UNIVERSITY WEBSITE AS SOON AS APPROVED BY THE BOARD OF TRUSTEES. THE CONFLICT OF INTEREST POLICY IS POSTED ON THE HR HOMEPAGE, THE BYLAWS ARE POSTED ON THE HR HOMEPAGE AND THE UNIVERSITY'S WEB PAGE. NO OTHER DOCUMENTS ARE AVAILABLE TO THE PUBLIC BEYOND WHAT HAS BEEN MENTIONED. Other changes in net assets or fund balances Form 990, Part XI, Line 5 NET UNREALIZED GAINS (LOSSES) ON INVESTMENTS - 10757320; EFFECT OF ADOPTION OF FASB 158 - 500182; ACTUARIAL CHANGE IN LIABILITY - -213739;