2012-03-09T07:00:13-05:00 2011-06-30 GRANT THORNTON LLP 175 W JACKSON BLVD STE 2000 CHICAGO IL 60604 990 2010-07-01 362169157 North Central College NORT 6306375680 30 N Brainard Street Naperville IL 60540 Paul H Loscheider 2012-03-06 true DAN ROMANO 3128560200 2010 2016-02-24 21:20:13Z HAROLD WILDE 30 NORTH BRAINARD STREET NAPERVILLE IL 60540 112214465 false X www.noctrl.edu X 1861 IL North Central College is a community of learners dedicated to preparing students to be informed, involved, principled and productive citizens and leaders over their lifetime. 36 27 1945 35 283379 -53444 8482297 6423262 76920057 84041470 1544835 3742310 1373957 1811090 88321146 96018132 25963452 28891040 0 0 30995699 32811685 0 0 1799421 24942263 28298979 81901414 90001704 6419732 6016428 228345563 245529442 59332378 55654298 169013185 189875144 X NORTH CENTRAL COLLEGE IS A COMMUNITY OF LEARNERS DEDICATED TO PREPARING STUDENTS TO BE INFORMED, INVOLVED, PRINCIPLED AND PRODUCTIVE CITIZENS AND LEADERS OVER THEIR LIFETIME. IN 2010-2011, THE COLLEGE SERVED 3,363 FULL AND PART-TIME STUDENTS. 34 STATES AND U.S. TERRITORIES AND 32 FOREIGN COUNTRIES ARE REPRESENTED IN OUR STUDENT POPULATION. ABOUT 1,400 STUDENTS RESIDE ON THE COLLEGE CAMPUS EACH TERM. NORTH CENTRAL COLLEGE CONFERRED 529 UNDERGRADUATE DEGREES AND 124 MASTER'S DEGREES IN THE 2010-2011 ACADEMIC YEAR. THE COLLEGE ALSO SERVED 4,500 PEOPLE IN NON-CREDIT EDUCATIONAL AND COMMUNITY PROGRAMS. false false 22678025 0 42751221 Instruction: Faculty instruction for degree candidates for the academic year and summer school, public service (non-credit), community education, and master's degree programs are provided. 89% of the full-time teaching faculty members have a Doctorate or terminal degree in their field of expertise. This distinctive faculty publishes numerous articles, books and research documents on a regular basis, although their primary responsibility is teaching. Study abroad experiences are encouraged for all students during their college career at North Central. Some of the current study abroad opportunities are Ireland, Scotland, England, Greece, China, Japan, and Costa Rica. 6287687 0 0 Academic support: Dean of faculty, continuing education, library services, disabilities support services, tutoring assistance, and academic computing are included in academic support. Oesterle Library offers 32 million records in 71 college and university databases in Illinois in addition to the 149,000 volumes in its collection. Information technology offers the students on-line access to their grades, schedule, and correspondence with faculty and classmates via Blackboard. Each student has 10MB of web-space & 100 MB Hard Drive space available. Language, technology, psychology, and science labs are also available. Faculty serves as students' academic advisors. 40519137 28891040 28891040 Student services and Athletics: Offices servicing the student body include admissions, international recruiting, financial aid, registrar, dean of students, ministry and service, community services, career development, the wellness center, student involvement, orientation, multicultural affairs, and athletic activities. Community service projects such as Habitat for Humanity are common pursuits during the December interim term and spring break. NCC Athletics maintains 22 NCAA Division III programs. The College is compliant with Title IX standards for gender equity and has won 27 team national championships. 11398379 0 12115830 80883228 true true false false false false true false true true false false false true true true false true false false false false false false false false false true true true false false false false false false true false false true true false false false false false false false false false true 3975 0 true 1945 true true true false false false false false false false false false X 36 27 true false false false false false false true true false false true true true true true true true true false X X ELIZABETH A LAKEN 6306375680 30 N BRAINARD STREET NAPERVILLE IL 60540 X Ms Esther T Benjamin 1.0 X 0 0 0 Mr Steven Bergerson 1.0 X 0 0 0 Mr Kevin M Gensler 1.0 X 0 0 0 Dr John M Giannini 1.0 X 0 0 0 Mrs Misty Gruber 1.0 X 0 0 0 Mr Thomas Gruenwald 1.0 X 0 0 0 Mrs Nancy Hanson 1.0 X 0 0 0 Mr Steven H Hoeft 1.0 X 0 0 0 Dr Holly Humphrey 1.0 X 0 0 0 Mr Peter P Jones 1.0 X 0 0 0 Bishop Hee-Soo Jung 1.0 X 0 0 0 Mr David W Kelsch 1.0 X 0 0 0 Mrs Michele kenaga 1.0 X 0 0 0 Mr ray kinney 1.0 X 0 0 0 mrs susan koranda 1.0 X 0 0 0 BISHOP LINDA LEE 1.0 X 0 0 0 MR RONALD LEUPTOW 1.0 X 0 0 0 MR JOSEPH MALLON 1.0 X 0 0 0 MR JAMES A MCDERMET 1.0 X 0 0 0 DR HOWARD MUELLER 1.0 X 11760 0 900 MS HOLLY I MYERS 1.0 X 0 0 0 MR MICHAEL R NASET 1.0 X 0 0 0 MR JOHN L NOVAK 1.0 X 0 0 0 MR JEFF OESTERLE 1.0 X 0 0 0 MR WILLIAM N PLAMONDON 1.0 X 0 0 0 MR STEVEN RUBIN 1.0 X 0 0 0 MS PAT PULIDO SANCHEZ 1.0 X 0 0 0 MR STEPHEN T SELLERS 1.0 X 0 0 0 MR DONALD SHARP 1.0 X 0 0 0 DR JEFFREY K SWALLOW 1.0 X 0 0 0 MR SCOTT WEHRLI 1.0 X 0 0 0 MR ROBERT A WISLOW 1.0 X 0 0 0 DR HERMAN B WHITE JR 1.0 X 5000 0 383 Miss Maria E Wynee 1.0 X 0 0 0 Mrs Beth Zimmerman 1.0 X 0 0 0 Dr Harold R Wilde 60.0 X X 328565 0 173418 Mr Paul Loscheider 60.0 X 179794 0 48693 Ms Laurie Hamen 60.0 X 188192 0 42288 Dr R Devadoss Pandian 60.0 X 190007 0 51728 Mr Rick E Spencer 60.0 X 182880 0 48685 Mr Martin Sauer 50.0 X 141886 0 20726 DR RICHARD WILDERS 50.0 X 140092 0 30917 DR FRANCINE NAVAKAS 50.0 X 129341 0 31110 DR MARTI BOGART 50.0 X 120516 0 28604 DR PETER BARGER 50.0 X 124385 0 20623 1742418 0 498075 25 false true false THE MILLARD GROUP 94346 EAGLE WAY CHICAGO IL 606789430 CLEANING SERVICES 751723 Datatel 4375 Fair Lakes Court FAIRFAX VA 22033 software support srv 207768 Gordon Flesch Company PO Box 992 MADISON WI 537010992 print & copier srvcs 197857 Royall and Company 1920 E Parham Rd RICHMOND VA 232282206 Admission Marketing 187488 CBORD GROUP INC 61 BROWN ROAD ITHACA NY 14850 CARD ACCESS MAINTNCE 159394 20 35906 6387356 952483 6423262 TUITION (GROSS OF FINANCIAL AID) 812900 70213534 70213534 STUDENT HOUSING AND AUXILIARY ENTERPRISES 812900 12115830 12115830 COMMUNITY EDUCATION 812900 833207 549828 283379 STUDENT FEES 900099 453784 453784 OTHER ATHLETIC, ACADEMIC, AND ADMINISTRATIVE REV. 900099 425115 425115 84041470 2462412 2462412 0 0 553575 83671 469904 469904 469904 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28795986 96018132 61194335 83671 83671 61110664 28891040 28891040 90001704 Organization's Collections and How Collections Further Exempt Purpose Schedule D, Part III, Question 4 The North Central College Archives consists of manuscripts, publications, photographs, audio-visual materials, artifacts, and other unique historical materials documenting the history of the College. The Archives holds similar types of materials for two additional collections, the Suburban Studies Archives (which seeks to document the transition of Chicago's west suburban region following World War II) and the papers of retired US Congressman Harris W. Fawell. The North Central College Archives' mission is to collect, organize, describe, preserve and make available for research materials on the history of the College and the local area as related to the College. The Archives supports the College community's need for historical information and provides reference assistance to archival researchers on and off campus. North Central College's Oesterle Library Special Collections (independent of the Archives) includes a collection of presidential and other famous persons signatures, a first editions collection of books, a unique collection of books on Chicago area history, and a set of books and sheet music for jazz. North Central College's Art Collection is on display throughout campus and includes a variety of media and artists, from bronzes by Gustav Borglum and Christian Petersen to tapestry by alumna Helen Gamertsfelder Naumann. Intended Use of the Organization's Endowment Funds Schedule D, Part V, Question 4 The intended uses of the organization's endowment funds include expending funds toward professional faculty chairs, scholarships, facilities maintenance, library enhancement, and departmental enhancement. Organization's Liability for Uncertain Tax Positions under FIN 48 Schedule D, Part X, question 2 The FASB issued guidance that requires tax effects from an uncertain tax position to be recognized in the financial statements only if the position is more likely than not to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. If an uncertain tax position meets the more-likely-than-not threshold, the largest amount of tax benefit that is greater than 50% likely to be recognized upon ultimate settlement with the taxing authority is recorded. The College is exempt from income tax under IRC section 501(c)(3), though it is subject to tax on income unrelated to its exempt purposes, unless that income is otherwise excluded by the IRC. There are no tax positions for which a material change in any unrecognized tax benefit liability is reasonably possible in the next 12 months. There is no interest or penalties recognized in the income statement or balance sheet. The tax years ending 2008, 2009 and 2010, are still open to audit for both federal and state purposes. This guidance did not have any impact on the Colleges financial statements. reconciliation of change in net assets schedule d, part xi, line 8 gain on interest rate swap $750,553 split-interest payments $780,254 Total $1,530,507 Reconciliation of Revenues schedule d, Part XII, Line 2D Rental Expenses $ 83,671 Total $ 83,671 Reconciliation of Revenues schedule d, Part XII, Line 4B Financial Aid $28,891,040 Loss on Fixed Assets ($95,054) Total $28,795,986 Reconciliation of Expenses schedule d, Part XIII, Line 2D Rental Expenses $83,671 Total $83,671 Reconciliation of Expenses schedule d, Part XIII, Line 4B Financial Aid $28,891,040 Total $28,891,040 true true true true true true true false false false false false false false false true false true organization's Racially nondiscriminatory policy Schedule E, question 3 The college's policy is one of non-discrimination with respect to the public served by the institution and with respect to the college personnel. Advertisements, brochures, publications, application for admissions, etc., contain a statement to the effect that the college does not discriminate on the basis of race, color, religion, gender, age, national origin, ancestry, marital status, sexual orientation, handicap, disability, veteran status or unfavorable discharge from military service. A classified advertisement is run once per term with the college's anti-discrimination policy. financial aid or assistance from a governmental agency schedule e, question 6a North Central College applies for and receives educational grants, as approved on a case by case basis, from Federal and State agencies. The college also participates annually in Federal & State financial aid programs, specifically Pell, SEOG, Federal work study, Perkins, Federal Direct Loans, and various other state of Illinois scholarship programs for qualified students. The grants and loans are reported in the College's A-133 Single Audit. true ACADEMIC Scholarships and GRANTS 2465 28891040 Process for Monitoring Grants Schedule I, Part I, Line 2 The University provides scholarships to students matriculating at the University; all funds issued to students are required to defray the cost of tuition and no student may use the funds for other than educational purposes. Since the students have no discretion in the use of the funds, the College does not need to monitor the grants once issued. X true true X X X X false true false false false false false false false Dr Harold R Wilde 328565 0 0 0 0 0 134500 0 38918 0 501983 0 0 0 Mr Paul Loscheider 164794 0 15000 0 0 0 32336 0 16357 0 228487 0 0 0 Ms Laurie Hamen 173192 0 15000 0 0 0 32285 0 10003 0 230480 0 0 0 Dr R Devadoss Pandian 175007 0 15000 0 0 0 32944 0 18784 0 241735 0 0 0 Mr Rick E Spencer 165480 0 15000 0 2400 0 32285 0 16400 0 231565 0 0 0 Mr Martin Sauer 137886 0 4000 0 0 0 11528 0 9198 0 162612 0 0 0 DR RICHARD WILDERS 140092 0 0 0 0 0 13868 0 17049 0 171009 0 0 0 DR FRANCINE NAVAKAS 127841 0 1500 0 0 0 13379 0 17731 0 160451 0 0 HOUSING ALLOWANCE AND PAYMENTS SCHEDULE J, PART I, QUESTION 1A THE PRESIDENT IS REQUIRED TO LIVE IN THE PRESIDENT'S HOUSE UNDER THE TERMS OF HIS EMPLOYMENT CONTRACT AND THE ESTIMATED RENTAL VALUE IS not REPORTED TO HIM AS COMPENSATION. The president is being provided the house as a convenience to the College to allow him to conduct business and be available 24/7 to respond to emergent situations that may arise. SCHEDULE J, PART II, COLUMN D VALUE OF HOUSING PROVIDED TO THE PRESIDENT OF THE COLLEGE (NON-TAXABLE): IRS instructions to Form 990 require that the fair market value of housing provided to employees by their employer be reported on Form 990, Part VII, Section A and Schedule J, Part II. As a condition of employment, the President of North Central College is required to reside on the campus premises. The residence serves both as a personal residence as well as a venue for regular carrying on of College business. The College has determined that the value of the use of this personal residence is not considered taxable income to the President as provided for in Internal Revenue Code Section 119. For tax year 2010, the value of the President's use of the residence is conservatively estimated to be $20,700. This estimated value is based on the fair rental value of $1,725 per month for similar houses in the area. During tax year 2010, the current President, Dr. Harold R. Wilde, made the residence their home for 12 months of the year. Schedule J, Part II, Column (D) includes $20,700 of non-taxable income associated with the use of the residence provided by the College. Nonqualified supplemental retirement plan Schedule J, Part I, Line 4b The following individuals participate in the supplemental nonqualified 457(f) retirement plan. Dr Harold R Wilde $110,000 Mr Paul Loscheider $15,000 Ms Laurie Hamen $15,000 Dr R D Pandian $15,000 Mr Rick Spencer $15,000 Illinois Finance Authority 861091967 45200FNS4 2008-10-16 17000000 See schedule o false false false ILLINOIS FINANCE AUTHORITY 861091967 452001Q86 2005-05-31 21200000 see schedule o false false true ILLINOIS FINANCE AUTHORITY 861091967 452001ZF0 2005-05-31 36500000 see schedule o false false true 0 0 17232326 0 105630 0 289481 420342 0 16351973 64900 0 2009 false false true true 3400000 0 21200000 0 0 21200000 0 0 0 0 0 0 2000 true false true true 7000000 0 36500000 0 0 36500000 0 0 0 0 0 0 1999 true false true true false false true false true 0.00000 0.00000 0.00000 true false false true false true 0.00000 0.00000 0.00000 true false false true false true 0.00000 0.00000 0.00000 true false true true BANK OF AMERICA NA 29.9 false false false false false false true false false false true false true true BANK OF AMERICA 20. false false false false true Supplemental Information Schedule K See Schedule O for Schedule K supplemental information. Na n/a 21000 scholarships david kelsch trustee 179595 See Part V false ray kinney trustee 261840 See Part V false Grants or Assistance Benefiting Interested Persons Schedule L, Part III ALTHOUGH THERE MAY BE RECIPIENTS WHO ARE RELATED TO PERSONS HAVING AN INTEREsT IN THE INSTITUTION, SUCH RECIPIENTS ARE SELECTED ON AN EQUAL, OBJECTIVELY DETERMINABLE BASIS WITH OTHER RECIPIENTS. ALL STUDENTS RECEIVING SCHOLARSHIPS AND FELLOWSHIPS ARE JUDGED WORTHY BY THE INSTITUTION'S ASSESSMENT ON THE BASIS OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED AND OTHER SIMILAR STANDARDS. Any scholarship committee member who has a relationship with any potential recipient of scholarship money is not included in the selection process for that particular candidate. Business Transactions with Interested Persons Schedule L, Part IV David Kelsch is a trustee of the board of North Central College, he is also the President and CEO of Advanced Data Technologies Inc. North Central College paid Advanced Data Tech $179,595 for professional services during fiscal year 2011. The business transaction between North Central College and Advanced Data Technologies Inc was conducted at arm's length, and a fair market value price was provided to the college for the services provided. Ray Kinney is a trustee of the board of North Central College, he is also a Principal of Minuteman Press and substantial shareholder of the company. North Central College paid Minuteman Press $261,840 in fiscal year 2011 for their services. The business transaction between North Central College and Minuteman Press was conducted at arm's length, and a fair market value price was provided to the college for the services provided. X 2 3920 Appraisal value X 31 409684 cost/selling price X 1 538879 Appraisal value 0 false true true HOW ORGANIZATION IS REPORTING CONTRIBUTIONS SCHEDULE M, PART I, COLUMN B THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS, NOT ITEMS RECEIVED. Third Party Vendor Arrangement Schedule M, Part 1, Line 32a When North Central College receives a stock gift, the development office refers the donor to our 3rd party broker Stifel Nicolaus (70 W Madison St, Suite 5000, Chicago, IL 60602). The broker then sells the stock and sends North Central College a check for the proceeds less fees. Other Program Services Part III, Line 4D Auxiliary Services: Auxiliary services include residence life, student housing, and food services. Facilities include Kaufman a full service dining hall, The Cage a quick service cook-to-order facility, and The Boilerhouse Cafe featuring Starbuck's coffee. The bookstore, college union, commuter student gathering room, and other meeting places are also included in Auxiliary service. More than 1,400 of the full-time students choose to live in college owned or leased properties. All campus housing contracts offer flexible meal plan options. Material Difference in voting rights Part VI, Section A, Line 1a and 1b There were 36 voting members at the beginning and end of fiscal year 2011. Three new members (Donald Sharp, Howard Mueller, and Thomas Gruenwald) were appointed during the fiscal year. John Bramsen transitioned from an Active to a Life trustee, myron wentz transitioned from an active to an honorary trustee, and lloyd krumlauf retired from the board. The President and 8 other members of the board are not independent based on the criteria provided. Directors with a relationship PART VI, SECTION A, QUESTION 2 Trustees Jeff Oesterle and Scott Wehrli with Life Trustees Dick Wehrli and Al Benedetti have invested together in a joint venture. This joint venture is independent of any North Central College activities or investments. One life trustee, John Bramsen, is related to an honorary trustee, James Bramsen, they are brothers. Scott Wehrli is the son of life trustee, Dick Wehrli. Scott Wehrli, Ray Kinney, and Kevin Gensler, have a business relationship with each other. Process Organization Uses to Review Form 990 Part VI, Section B, Question 11b The review will be conducted prior to filing the 990 with the IRS. The Assistant VP of Finance/Comptroller and Senior Accountant gather all information from various areas of the College and submit to tax professionals for the first draft of the 990. The Assistant VP of Finance/Comptroller and Senior Accountant review and make necessary changes. The second draft is then reviewed by the VP for Business Affairs and the College President. Again, updates and changes are made if necessary. A final draft is sent via email to all voting board members for their review. If any changes are required after board review, they will be sent to the tax professionals for incorporation into the form 990. How Organization Monitors and Enforces Conflict of Interest Policy Part VI, Section B, Question 12C The conflict of interest statements are sent to each board member with the May board packet, which includes reading materials for the upcoming meeting. All board members are expected to return the conflict of interest statements at the May board meeting, if not sooner. A process has been established to follow up with any members who have not returned the conflict of interest statement within the given parameters. The college monitors conflicts of interest by sending out a questionnaire annually, as well as at every meeting the question is raised. If a conflict arises, that individual is prohibited from participating in the governing body's deliberations and decisions in the transaction under discussion. Process for Determining Compensation of Top Management Part VI, Section B, Questions 15A & 15B The Compensation Committee (a sub-committee of the Board) is responsible for determining the President's salary and reviewing the Vice Presidents' salaries. The Compensation Committee works with Human Resources (and possibly outside consultants) to obtain comparable salary/benefit data from organizations such as College and University Personnel Association (CUPA), in order to establish appropriate salary/benefit packages. The Compensation Committee consists of the Chair of the Board and two active trustees, who are not related to the President or Vice Presidents and do not perform management-directed services to the College. The College has an annual review of their compensation process. Annually, the Executive Committee reviews the Compensation Committee's recommendations and approves the President's compensation. The Vice Presidents' compensation is brought before the Board of Trustees in an executive session at the fall meeting. Contemporaneous documentation is maintained for all compensation decisions. How Organization Makes Important Documents Available to the Public Part VI, Section C, Question 19 The conflict of interest policy and financial statements are available to the public at North Central College's website, www.noctrl.edu. The College's governing documents are not currently posted on the website, but they are available upon request. it is available upon request. other changes in net assets or fund balances part xi, line 5 Unrealized gain $13,314,724 change in fair value of interest rate swap agreement $750,553 change in value of split-interest agreements $780,254 Total increase in net assets or fund balances $14,845,531 Description of Purpose Schedule K, Part I, Column F, Line A The bonds were issued to finance, refinance or reimburse the costs of the acquisition, construction, renovation, improvement and equipping of certain educational facilities. Description of Purpose Schedule K, Part I, Column F, Line B The bonds and the 1999 Bonds (defined below) were issued to provide funds to several Section 501(c)(3) nonprofit organizations. The bonds were issued in the amount of $21,200,000. North Central College benefitted from $10,000,000 of the proceeds of the bonds. The issuer of the bonds changed the mandatory tender provisions of the indenture governing previously issued bonds (the "1999 Bonds") thereby resulting in the Variable Rate Demand Revenue Bonds, Series 1999 (ACI/Cultural Pooled Financing Program) originally issued by the Illinois Educational Facilities Authority on July 28, 1999 to be assumed to be reissued and currently refunded for Federal income tax purposes on May 31, 2005. The portion of the proceeds of the 1999 Bonds which were borrowed by North Central College were used to finance, refinance and reimburse the costs of the acquisition, construction, renovation, improvement and equipping of educational facilities. Description of Purpose Schedule K, Part I, Column F, Line C The bonds and the 1998 Bonds (defined below) were issued to provide funds to several Section 501(c)(3) nonprofit organizations. North Central College benefitted from $15,000,000 of the proceeds of the Bonds. The bonds were issued in the amount of $36,500,000. The issuer of the bonds changed the mandatory tender provisions of the indenture governing previously issued bonds (the "1998 Bonds") thereby resulting in the Variable Rate Demand Revenue Bonds, Series 1998 (ACI/Cultural Pooled Financing Program) originally issued by the Illinois Educational Facilities Authority on March 25, 1998 to be assumed to be reissued and currently refunded for Federal income tax purposes on May 31, 2005. The portion of the proceeds of the 1998 Bonds which were borrowed by North Central College were used to finance, refinance and reimburse the costs of the acquisition, construction, renovation, improvement and equipping of educational facilities. In April of 2006, North Central College paid $500,000 of principal; therefore $14,500,000 is still outstanding. Total proceeds of issue Schedule K, Part II, Column A, Line 3 The issue price of the bonds is $17,000,000. Investment earnings through the end of the project period were $232,326. Total proceeds of issue Schedule K, Part II, Column B, Line 3 The issuer price of the bonds is $21,200,000. North Central College benefitted from $10,000,000 of the proceeds of the bonds. The $10,000,000 amount is inadvertently listed as $9,000,000 on the Form 8038 for the 1999 bonds. Total proceeds of issue Schedule K, Part II, Column C, Line 3 The issue price of the bonds is $36,500,000. North Central College benefitted from $15,000,000 of the proceeds of the bonds. In April of 2006, North Central College paid $500,000 of principal; therefore $14,500,000 is still outstanding. Other spent proceeds Schedule K, Part II, Column C, Line 11 Other spent proceeds includes LOC fees of $25,500 (paid 10/31/08 from the Project Fund), LOC fees of $19,650 (paid 7/21/09 from the Cap Interest fund), and $19,750 of Remarketing Fees (paid 11/3/09 from the Cap Interest fund).