2012-04-09T09:19:44-05:00 2011-05-31 KPMG LLP 1676 International Drive McLean VA 22102 990 2010-06-01 240795506 WILKES UNIVERSITY WILK 5704084500 84 WEST SOUTH STREET WILKESBARRE PA 187660999 Loren Prescott 2012-04-05 7032868000 2010 2016-02-24 21:20:13Z PRESIDENT JOSEPH E GILMOUR 84 WEST SOUTH STREET WILKESBARRE PA 18766 110734439 false X WWW.WILKES.EDU X 1933 PA TO EDUCATE OUR STUDENTS FOR LEARNING AND SUCCESS IN AN EVOLVING AND MULTICULTURAL WORLD THROUGH A COMMITMENT TO INDIVIDUALIZED ATTENTION, EXCEPTIONAL TEACHING, AND ACADEMIC EXCELLENCE. 33 30 1921 310 0 0 5873258 8055283 92904654 93337468 488746 1666688 2520549 2046318 101787207 105105757 23301196 24160630 0 0 44313246 46043088 7304 171508 1294135 31712892 32288062 99334638 102663288 2452569 2442469 144202555 151354084 70455773 70165867 73746782 81188217 X TO CONTINUE THE WILKES TRADITION OF LIBERALLY EDUCATING OUR STUDENTS FOR LIFELONG LEARNING AND SUCCESS IN A CONSTANTLY EVOLVING AND MULTICULTURAL WORLD THROUGH A COMMITMENT TO INDIVIDUALIZED ATTENTION, EXCEPTIONAL TEACHING, SCHOLARSHIP AND ACADEMIC EXCELLENCE, WHILE CONTINUING THE UNIVERSITY'S COMMITMENT TO COMMUNITY ENGAGEMENT. false false 32938831 31995 84469184 INSTRUCTION- INCLUDES ALL EXPENDITURES FOR ACTIVITIES THAT ARE PART OF THE INSTITUTION'S INSTRUCTIONAL PROGRAMS. THIS INCLUDES CREDIT AND NON-CREDIT COURSES, ACADEMIC, VOCATIONAL, AND TECHNICAL INSTRUCTION. THE UNIVERSITY OFFERS 36 UNDERGRADUATE MAJORS, 10 GRADUATE PROGRAMS AND SEVERAL PRE-PROFESSIONAL PROGRAMS. ENROLLMENT INCLUDES 2,200 FULL-TIME UNDERGRADUATE STUDENTS FROM OVER 19 STATES AND 11 FOREIGN COUNTRIES. CLASS SIZES ARE KEPT SMALL TO ENABLE GREATER ACCESS TO PROFESSORS AND MORE INDIVIDUALIZED ATTENTION IN THE CLASSROOM. UNDERGRADUATE FRESHMEN CLASS SIZES AVERAGE 25 STUDENTS WITH 20 STUDENTS FOR UPPER LEVEL CLASSES. WILKES IS DEDICATED TO BEING A LEADER IN HIGHER EDUCATION THROUGHOUT THE NORTHEASTERN UNITED STATES AND IS DEDICATED TO ACADEMIC EXCELLENCE THROUGH MENTORING. 26422582 24128635 0 SCHOLARSHIP- INCLUDES EXPENDITURES FOR GENERAL, NEED BASED, AND ENDOWMENT SCHOLARSHIPS AND FELLOWSHIPS FROM RESTRICTED OR UNRESTRICTED CURRENT FUNDS IN THE FORM OF GRANTS TO STUDENTS, RESULTING FROM SELECTION BY DIVISION OF ENROLLMENT MANAGEMENT. AT LEAST 85% OF STUDENTS RECEIVED SOME SORT OF FINANCIAL AID. GRANTS AWARDED INCLUDE PENNSYLVANIA STATE GRANTS (PHEAA) AND WILKES NEED BASED GRANTS. ALSO INCLUDED IS TUITION REMISSION FOR GRADUATE ASSISTANTS AND OTHER LOCAL COLLEGES AND PROGRAMS. 9730541 0 8868284 STUDENT SERVICES- INCLUDES FUNDS EXPENDED FOR ACTIVITIES WITH THE PRIMARY PURPOSE OF CONTRIBUTING TO THE STUDENT'S EMOTIONAL AND PHYSICAL WELL-BEING AND INTELLECTUAL, CULTURAL, AND SOCIAL DEVELOPMENT OUTSIDE THE CONTEXT OF THE FORMAL INSTRUCTION PROGRAM. WILKES CLASSIFIES THE FOLLOWING OFFICES INTO THIS PROGRAM: OFFICES OF ENROLLMENT SERVICES (ADMISSIONS), REGISTRAR, FINANCIAL AID ADMINISTRATION, CAREER SERVICES, AND HEALTH AND WELLNESS SERVICES. IN ADDITION, EXPENDITURES FOR STUDENT ACTIVITIES, CULTURAL EVENTS, INTRAMURAL AND INTERCOLLEGIATE ATHLETICS, FRESHMAN ORIENTATION, AND STUDENT CLUBS AND ORGANIZATIONS ARE CONSIDERED STUDENT SERVICES FOR FINANCIAL STATEMENT PURPOSES. 9362661 0 0 ACADEMIC SUPPORT - SEE SCHEDULE O 1327975 0 0 RESEARCH - SEE SCHEDULE O 1006620 0 0 PUBLIC SERVICE - SEE SCHEDULE O 11697256 0 0 80789210 true true false false false false true false true true true false false true true true false true true true false true true true false false false true true true false false false false false false false false false true false false false false true true false false false false true 215 0 true 1921 true false false false false false true true false false false false X 33 30 false false false false false false false true true false false true true true true true true true true false PA X JANET KOBYLSKI 5704084501 84 WEST SOUTH STREET WILKESBARRE PA 187660999 X REVEREND MICHAEL BREWSTER 2.0 X 0 0 0 DANIEL CARDELL 11.0 X X 0 0 0 LAURA CARDINALE 2.0 X 0 0 0 TERRY CASEY 2.0 X 0 0 0 DENISE S CESARE 7.0 X 0 0 0 CHARLES F COHEN 3.0 X 0 0 0 DOUG COLANDREA 3.0 X 0 0 0 JEFF DAVIDOWITZ 2.0 X 0 0 0 SHELLEY FREEMAN 1.0 X 0 0 0 MICHAEL I GOTTDENKER 10.0 X X 0 0 0 DAVID GREENWALD 2.0 X 0 0 0 JASON GRIGGS 6.0 X 0 0 0 WILLIAM HANBURY 2.0 X 0 0 0 JOHN KERR 3.0 X 0 0 0 CAROL KEUP 1.0 X 0 0 0 MILAN S KIRBY 4.0 X 0 0 0 DANIEL KLEM JR 4.0 X 0 0 0 DOROTHY DARLING MANGELSDORF 2.0 X 0 0 0 MELANIE MASLOW LUMIA 1.0 X 0 0 0 MICHAEL J MAHONEY 12.0 X X 0 0 0 GEORGE J MATZ 4.0 X 0 0 0 JOHN R MILLER 12.0 X X 0 0 0 WILLIAM R MILLER 2.0 X 0 0 0 GERALD A MOFFATT 7.0 X 0 0 0 GEORGE PAWLUSH 6.0 X 0 0 0 THOMAS RALSTON 1.0 X 0 0 0 HEDY RITTENMEYER 3.0 X 0 0 0 STEVEN ROTH 3.0 X 0 0 0 JAY S SIDHU 4.0 X 0 0 0 VIRGINIA P SIKES 7.0 X 0 0 0 ELIZABETH A SLAUGHTER PHD 3.0 X 0 0 0 MATTHEW R SORDONI 1.0 X 0 0 0 JOSEPH E GILMOUR 75.0 X X 380218 0 105802 PETRA CARVER 60.0 X 109340 0 10920 C REYNOLD VERRET 60.0 X 207804 0 55070 PAUL ADAMS 50.0 X 127519 0 19468 MICHAEL WOOD 50.0 X 127113 0 48906 MELANIE MICKELSON 50.0 X 118775 0 14828 LOREN PRESCOTT 50.0 X 222448 0 39670 JANET KOBYLSKI 50.0 X 123211 0 14973 BERNARD GRAHAM 50.0 X 173204 0 23292 PAUL BROWNE 50.0 X 160691 0 28319 MICHAEL SPEZIALE 50.0 X 142155 0 27762 DALE BRUNS 50.0 X 146444 0 19470 S KALIM 50.0 X 127788 0 15650 BONNIE CULVER 50.0 X 136474 0 13909 TERI OOMS 50.0 X 144791 0 13638 2447975 0 451677 63 false true false SUNGARD HIGHER EDUCATION INC 4 COUNTRY VIEW ROAD MALVERN PA 19355 IT MANAGEMENT 3423730 SODEXO INC AFFILIATES 9801 WASHINGTONIAN BOULEVARD GAITHERSBURG MD 20878 FOOD SERVICE MGMT 2894741 LEARNING SCIENCES INTERNATIONAL 175 CORNELL ROAD BLAIRSVILLE PA 15717 ACADEMIC COURSES 1544379 160 OVER 90 1 SOUTH BROAD STREET 10TH FLOOR PHILADELPHIA PA 19107 MARKETING 594875 DISCOVERY EDUCATION INC 1 DISCOVERY PLACE SILVER SPRING MD 209103354 ACADEMIC COURSES 520342 15 118852 3902300 4034131 8218 8055283 TUITION AND FEES 900099 84469184 84469184 AUXILIARY ENTERPRISES 900099 8868284 8868284 93337468 1002972 1002972 212 212 99000 99000 72147 29857 42290 42290 42290 6166454 7000 5506748 3202 659706 3798 663504 663504 34801 118852 88875 -54074 -54074 0 0 ENDOWMENT DRAWDOWNS 900099 1363000 1363000 MISCELLANEOUS 900099 596102 596102 1959102 105105757 93933570 0 3116904 0 24128635 24128635 31995 31995 0 1906384 672030 1234354 0 34465659 28753967 5203550 508142 2309866 1899025 368840 42001 4673954 3992052 647487 34415 2687225 2217247 432387 37591 0 63086 8766 54320 150575 150575 0 171508 171508 209740 209740 6047005 4381792 1621267 43946 1258006 321461 918696 17849 3077626 1349767 1647574 80285 4164114 2788509 1375605 0 3243883 2094593 1149290 845168 732718 75004 37446 0 242672 211636 29063 1973 2637325 1416329 1220996 0 4469084 2400021 2069063 0 365326 365326 EQUIPMENT MAINTENANCE 1110867 190044 915432 5391 ENTERTAINMENT 1064502 837781 186262 40459 BAD DEBTS 835485 662107 0 173378 PRINTING AND PUBLICATIONS 792339 483048 262472 46819 BANK FEES 409118 5481 403637 0 1302141 844880 404329 52932 102663288 80789210 20579943 1294135 17705448 18395601 1893430 3255767 2133313 1763986 4026427 3563372 736971 490205 143137467 72700721 71313515 70436746 31136394 36291801 13981514 15756823 1275543 1399783 144202555 151354084 6992015 6738542 1197334 1003489 52975000 52975000 86790 41055 9204634 9407781 70455773 70165867 X 38480984 40270072 12336275 15846373 22929523 25071772 73746782 81188217 144202555 151354084 X 2442469 4998966 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1441500 X false 32667073 551885 6619932 1363000 183542 38292348 29448828 906589 4155073 1675095 168322 32667073 38843902 964402 -8661856 1530321 167299 29448828 0.27000 0.47000 0.26000 false false 5239356 5239356 97671276 41033816 56637460 26854767 24304560 2550207 13372068 7362345 6009723 70436746 BENEFICIAL INTEREST IN TRUSTS 7042163 F ALTERNATIVE INVESTMENTS 5328235 F FUNDS HELD IN TRUST FOR OTHERS 3368289 F REAL ESTATE INVESTMENT TRUST 18136 F 15756823 0 ADVANCES FROM FED GOVT 3425247 INVESTMENTS HELD IN TRUST 3368289 POSTRETIREMENT BENEFITS 1195683 UNAMORTIZED BOND PREMIUM 959942 LIABILITY UNDER SPLIT INTEREST 410771 DEPOSITS HELD IN CUSTODY 47849 9407781 105105757 102663288 2442469 4159806 839160 4998966 7441435 85881315 4159806 10000 118732 4288538 81592777 191510 23321470 23512980 105105757 78439880 10000 118732 128732 78311148 191510 24160630 24352140 102663288 WORKS OF ART SCHEDULE D, PART III, LINE 4 A COLLECTION OF ARTWORK IS MAINTAINED BY THE UNIVERSITY PURELY FOR PUBLIC DISPLAY BOTH IN THE ART GALLERY AND AMONG CAMPUS. THEY ARE NOT HELD FOR SALE. ENDOWMENT FUND SCHEDULE D, PART V, LINE 4 THE INTENDED USE OF THE UNIVERSITY'S ENDOWMENT FUNDS IS TO FUND SCHOLARSHIPS AS WELL AS DEPARTMENTAL CHAIRS AND TO SUPPORT OPERATING EXPENSES. TAX POSITIONS UNDER FIN 48 SCHEDULE D, PART X, LINE 2 THE UNIVERSITY IS INCORPORATED IN THE COMMONWEALTH OF PENNSYLVANIA AS A NONPROFIT ORGANIZATION. THE UNIVERSITY HAS RECEIVED A DETERMINATION FROM THE INTERNAL REVENUE SERVICE THAT IT IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501 (C )(3) OF THE INTERNAL REVENUE CODE. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE UNIVERSITY AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE UNIVERSITY HAS TAKEN AN UNCERTAIN TAX POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE UNIVERSITY, AND HAS CONCLUDED THAT AS OF MAY 31, 2011, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE UNIVERSITY IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. CHANGE IN NET ASSETS SCHEDULE D, PART XI, LINE 8 CHANGE IN VALUE OF PERPETUAL TRUSTS AND SPLIT INTEREST AGREEMENTS..........................839,160 REVENUE RECONCILIATION SCHEDULE D, PART XII, LINES 2D AND 4B LINE 2D RENT EXPENSES....................................$ 29,857 DIRECT EXPENSES (SPECIAL EVENT)................... 88,875 ======== TOTAL............................................$ 118,732 LINE 4B SCHOLARSHIP AID...............................$ 24,160,630 CHANGE IN VALUE OF PERPETUAL TRUSTS AND SPLIT INTEREST AGREEMENTS................... (839,160) =========== TOTAL.........................................$ 23,321,470 RECONCILIATION OF EXPENSES SCHEDULE D, PART XIII, LINES 2D AND 4B LINE 2D RENT EXPENSES....................................$ 29,857 DIRECT EXPENSES (SPECIAL EVENT)................... 88,875 ======== TOTAL............................................$ 118,732 LINE 4B SCHOLARSHIP AID...............................$ 24,160,630 true true true true true true true false false false false false false false false true false true NONDISCRIMINATORY POLICY SCHEDULE E, LINE 3 ALL PUBLICATIONS IN THE AREAS OF RECRUITMENT PUBLICIZE THE UNIVERSITY'S NON-DISCRIMINATORY POLICY. FINANCIAL AID SCHEDULE E, LINE 6A LOAN PROGRAMS (PERKINS AND NURSING), SEOG, COLLEGE WORK STUDY, IAG (INSTITUTIONAL ASSISTANCE GRANT), PELL GRANT, MISCELLANEOUS NEED-BASED PHEAA GRANTS, NATIONAL GUARD AWARDS, AND PRIVATE SCHOLARSHIPS (ROTC PROGRAM). true South Asia Program Services FOREIGN STUDY 25578 South Asia Grantmaking 31995 South Asia 1 Program Services RECRUITING STUDENTS 5000 East Asia and the Pacific 1 Program Services RECRUITING STUDENTS 5650 Middle East and North Africa Program Services RECRUITING STUDENTS 2525 Central America and the Caribbean Investments 3221404 Europe (Including Iceland and Greenland) Investments 386348 North America Investments 101432 East Asia and the Pacific Investments 43774 Sub-Saharan Africa Investments 28469 2 2 3852175 3852175 TUITION DISCOUNT South Asia 7 0 OTHER 31995 DISCOUNT FMV true false true true false false X X X X X X X true JEROLD PANAS LINZY PTRNS CONSULTING STRATEGY false 171508 171508 LECTURE SERIES 105729 97476 8253 3477 28787 12500 18755 GOLF TOURNAMENT 24345 8150 16195 6428 7690 3353 2 23579 13226 10353 3504 100 4281 153653 118852 34801 3477 38719 20290 26389 88875 -54074 PROFESSIONAL FUNDRAISER SCHEDULE G, PART I, LINE 2B THE FIRM "JEROLD PANAS, LINZY & PTRNS" PROVIDES ON SITE COUNSEL FOR A $20 MILLION CAPITAL CAMPAIGN AS WELL AS DEVELOPS STRATEGY FOR THE CAMPAIGN INCLUDING VOLUNTEER ORGANIZATION, PROSPECT ASSESSMENT, AND SOLICITATION SCHEDULES AND TIMELINES. true DISCOUNTS TO ALUMNI AND DEPENDENTS 1 2580 NAMED SCHOLARSHIPS 231 881582 NEED BASED GRANTS AND SCHOLARSHIPS 1339 7353193 OTHER SCHOLARSHIPS 1573 13698035 REMISSIONS - GRAD ASSISTANTS UPWARD BOUND ETC 356 2193245 EXPLANATION OF SCHEDULE FINANCIAL AID AWARDS SCHEDULE I, PART I WILKES UNIVERSITY MAINTAINS A COMPREHENSIVE PROGRAM OF FINANCIAL AID TO ASSIST STUDENTS IN THE FINANCING OF THEIR EDUCATIONAL PROGRAMS. THE UNIVERSITY AWARDS BOTH MERIT SCHOLARSHIPS AND NEED-BASED GRANTS TO UNDERGRADUATE STUDENTS. MERIT AWARDS ARE BASED ON HIGH SCHOOL ACHIEVEMENT INCLUDING SAT SCORES AND HIGH SCHOOL CLASS RANK. STUDENTS MUST COMPLETE THE FREE APPLICATION FOR FEDERAL STUDENT AID TO HAVE THEIR ELIGIBILITY FOR NEED-BASED AID DETERMINED. IN ADDITION, THE UNIVERSITY HAS A GRADUATE ASSISTANTSHIP PROGRAM THAT PROVIDES REMISSION OF TUITION CHARGES FOR THOSE STUDENTS SELECTED BY THE GRADUATE OFFICE TO PARTICIPATE IN THE PROGRAM. X X X X true true X X X false false false false false false false false false JOSEPH E GILMOUR 250481 0 128513 0 1224 0 38554 0 67248 0 486020 0 0 0 C REYNOLD VERRET 206580 0 0 0 1224 0 21473 0 33597 0 262874 0 0 0 MICHAEL WOOD 125889 0 0 0 1224 0 13500 0 35406 0 176019 0 0 0 LOREN PRESCOTT 221224 0 0 0 1224 0 22354 0 17316 0 262118 0 0 0 MICHAEL SPEZIALE 139815 0 0 0 2340 0 13981 0 13781 0 169917 0 0 0 DALE BRUNS 146444 0 0 0 0 0 15000 0 4470 0 165914 0 0 0 BONNIE CULVER 135640 0 0 0 834 0 11063 0 2846 0 150383 0 0 0 TERI OOMS 125103 0 19688 0 0 0 12589 0 1049 0 158429 0 0 0 BERNARD GRAHAM 173204 0 0 0 0 0 18058 0 5234 0 196496 0 0 0 PAUL BROWNE 159542 0 0 0 1149 0 15954 0 12365 0 189010 0 0 0 HOUSING ALLOWANCE SCHEDULE J, PART I HOUSING IS PROVIDED FOR THE UNIVERSITY PRESIDENT, VP OF FINANCE AND UNIVERSITY'S PROVOST AS WELL AS THEIR FAMILIES. THIS INCLUDES PAYMENT OF ALL UTILITIES AND INSURANCE ON THE HOUSE. NO PART OF THE HOUSING ALLOWANCE IS TREATED AS TAXABLE COMPENSATION. HEALTH OR SOCIAL CLUB DUES SCHEDULE J, PART I ALL UNIVERSITY EMPLOYEES ARE OFFERED A MEMBERSHIP AT THE LOCAL YMCA. IN ADDITION, CERTAIN MEMBERS OF THE PRESIDENT'S CABINET BELONG TO A LOCAL SOCIAL CLUB WHICH REQUIRES DUES OF $102 PER MONTH. THE SOCIAL CLUB DUES PROVIDED TO THE PRESIDENT'S CABINET ARE THE ONLY DUES TREATED AS TAXABLE COMPENSATION. PERSONAL SERVICES SCHEDULE J, PART I CLEANING SERVICES ARE PROVIDED AT THE PRESIDENT'S RESIDENCE BY A UNIVERSITY CUSTODIAN. THE CLEANING SERVICES ARE NOT TREATED AS TAXABLE COMPENSATION. VP OF FINANCE POSITION SCHEDULE J THE VP OF FINANCE POSITION WAS HELD BY PETRA CARVER THROUGH AUGUST OF 2010. THE FORMER DEAN OF THE LAW SCHOOL, LOREN PRESCOTT, TOOK OVER THIS POSITION IN DECEMBER OF 2010. IN THE INTERIM, THE CONTROLLER, JANET KOBYLSKI SERVED AS ACTING VP OF FINANCE. TRAVEL FOR COMPANIONS SCHEDULE J, PART I TRAVEL FOR COMPANIONS IS FOR THE PRESIDENT'S SPOUSE. NO PART OF THE TRAVEL FOR COMPANIONS IS TREATED AS TAXABLE COMPENSATION. CITY OF WILKES BARRE FINANCE AUTHORITY SERIES 2007 968254AC6 2007-05-30 54134142 REFUNDING BONDS AND PREPAYING false false false 54134142 2127750 51254416 738963 13013 2007 true true true true true true true false true 0.00341 0.02981 0.03322 true false false false false false false MEMBER OF AN LLC SCHEDULE K, PART III, LINE 1 WILKES UNIVERSITY IS THE SOLE MEMBER OF WU REAL ESTATE, LLC, WHICH IS TREATED AS A DISREGARDED ENTITY OF THE UNIVERSITY. WU REAL ESTATE LLC'S OWNERSHIP OF BOND FINANCED FACILITIES IS THEREFORE TREATED AS OWNERSHIP BY A 501( C)(3) ENTITY. PRIVATE BUSINESS USE BY OTHER THAN 501 (C)(3) ORGANIZATION SCHEDULE K, PART III, LINE 4 THE PERCENTAGE SHOWN ON PART III, LINE 4 REPRESENTS RENT RECEIVED FROM A HOLDOVER BUSINESS TENANT OF A BUILDING PURCHASED BY THE UNIVERSITY AND IS CALCULATED ON THE BASIS OF ONE BUILDING WHICH WAS FINANCED BY APPROXIMATELY 19.63% OF THE PROCEEDS OF THE BOND ISSUE. PRIVATE BUSINESS USE AS A RESULT OF UNRELATED TRADE OR BUSINESS ACTIVITY SCHEDULE K, PART III, LINE 5 THE AMOUNTS SHOWN ON PART III, LINE 5 REPRESENT RENT RECEIVED FROM ELDERLY HOLDOVER TENANTS OF A BUILDING PURCHASED BY THE UNIVERSITY TO PROVIDE STUDENT HOUSING. THESE NON-STUDENT TENANTS ARE PERMITTED TO STAY IN THE BUILDING UNTIL THE TENANT DECIDES TO TERMINATE THE LEASE. THE PERCENTAGE IS CALCULATED ON THE BASIS OF ONE BUILDING WHICH WAS FINANCED BY APPROXIMATELY 19.63% OF THE PROCEEDS OF THE BOND ISSUE, AND OVER THE TERM OF THE BONDS. AS THESE NON-STUDENT LEASES ARE TERMINATED, THE UNIVERSITY EXPECTS THAT THE UNRELATED USE WILL DROP TO 0% AND REPRESENT A VERY SMALL PORTION OF THE USE OF THE BUILDING. TOTAL PRIVATE BUSINESS USE SCHEDULE K, PART III, LINE 6 THIS PERCENTAGE REPRESENTS USE OF ONLY ONE BUILDING FINANCED WITH APPROXIMATELY 19.63% OF THE BOND PROCEEDS. THE USE AS MEASURED OVER THE ENTIRE BOND ISSUE IS LESS THAN 1% OF THE BOND PROCEEDS FOR THE ANNUAL PERIOD COVERED BY SCHEDULE K. PRACTICES AND PROCEDURES FOR TAX EXEMPT BOND LIABILITIES SCHEDULE K, PART III, LINE 7 ALTHOUGH WILKES HAS ADOPTED MANAGEMENT PRACTICES AND PROCEDURES TO ENSURE THE POST ISSUANCE COMPLIANCE OF ITS TAX EXEMPT BOND LIABILITIES, THESE PRACTICES AND PROCEDURES WERE NOT IN WRITING AT THE END OF WILKES' TAX YEAR. DENISE CESARE SEE SCHEDULE L, PART V 822637 HEALTH INSURANCE PLAN false SHELLEY FREEMAN SEE SCHEDULE L, PART V 115500 BANKING SERVICES false GOVERNING DOCUMENTS FORM 990, PART IV, LINE 28C AND SCHEDULE L, PART IV DENISE CESARE, A MEMBER OF THE UNIVERSITY'S BOARD OF TRUSTEES IS THE PRESIDENT AND CEO OF BLUE CROSS OF NEPA. SHELLEY FREEMAN, A MEMBER OF THE UNIVERSITY'S BOARD OF TRUSTEES IS AN OFFICER WITH WELLS FARGO BANK (FORMERLY WACHOVIA BANK). THE UNIVERSITY CURRENTLY HAS A BANKING RELATIONSHIP WITH VARIOUS FINANCIAL INSTITUTIONS, INCLUDING WELLS FARGO. THE SERVICES PROVIDED BY WELLS FARGO INCLUDE DEPOSITORY, CHECKING ACCOUNT, AND A LINE OF CREDIT. DURING THE TAX YEAR, THE UNIVERSITY EARNED INTEREST OF $40,206.69 AND PAID SERVICE CHARGES AND ADDITIONAL FEES OF $75,293.16. THE UNIVERSITY ENTERED INTO ITS BANKING RELATIONSHIP WITH WACHOVIA BANK WHILE SHELLEY FREEMAN WAS AN OFFICER WITH WELLS FARGO BANK. SUBSEQUENTLY, WACHOVIA BANK BECAME A PART OF WELLS FARGO BANK. ALL CONTRACTS IN THE ABOVE RELATIONSHIPS ARE CONTRACTED AT ARM'S LENGTH THROUGH THE UNIVERSITY'S PROCUREMENT PROCESS WHICH INCLUDES A COMPETITIVE BID PROCESS AND THE PERSONS DISCLOSED ARE NOT PART OF THE DECISION MAKING PROCESS. STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS FORM 990, PART III ACADEMIC SUPPORT INCLUDES FUNDS EXPENDED TO PROVIDE SUPPORT SERVICES FOR THE INSTITUTION'S PRIMARY MISSION OF INSTRUCTION, RESEARCH, AND PUBLIC SERVICE. THE ACADEMIC ADMINISTRATION OF THE UNIVERSITY INCLUDING ACADEMIC DEANS BUT NOT DEPARTMENT CHAIRS THAT ARE CHARGED TO THEIR PRIMARY FUNCTION CATEGORY ARE FOUND IN THIS PROGRAM. ALL SALARIES, BENEFITS, AND OTHER EXPENSES FOR THE LIBRARY ARE ALSO CONSIDERED ACADEMIC SUPPORT. RESEARCH INCLUDES ALL EXPENDITURES FOR ACTIVITIES SPECIFICALLY ORGANIZED TO PRODUCE RESEARCH, WHETHER COMMISSIONED BY AN AGENCY EXTERNAL TO THE INSTITUTION OR SEPARATELY BUDGETED WITHIN THE UNIVERSITY. CHARGED TO THIS PROGRAM ARE EXPENDITURES RELATED TO THE INSTITUTE FOR PUBLIC POLICY AND ECONOMIC DEVELOPMENT, A PARTNERSHIP AMONG SEVERAL LOCAL COLLEGES WITH THE FUNCTION OF PRODUCING RESEARCH TO ASSIST COMMUNITY LEADERS IN MAKING INFORMED DECISIONS. IN ADDITION TO THIS, THE EXPENSES OF SEVERAL RESEARCH GRANTS ARE RECORDED TO THE RESEARCH CLASSIFICATION. PUBLIC SERVICE INCLUDES FUNDS EXPENDED FOR ACTIVITIES ESTABLISHED PRIMARILY TO PROVIDE NON-INSTRUCTIONAL SERVICES BENEFICIAL TO INDIVIDUALS AND GROUPS EXTERNAL TO THE UNIVERSITY. THE EXPENSES OF THE SMALL BUSINESS DEVELOPMENT CENTER, RADIO AND TELEVISION STUDIOS, SEVERAL COMMUNITY LECTURE SERIES, AND ART GALLERY ARE AMONG THOSE POSTED TO THIS PROGRAM. 990 REVIEW PROCESS FORM 990, PART VI, LINE 11 WILKES UNIVERSITY HAS ESTABLISHED A REVIEW PROCESS FOR THE FORM 990. THE INFORMATION IS MADE AVAILABLE TO THE ORGANIZATION'S OFFICERS, TRUSTEES, AND HIGHLY COMPENSATED INDIVIDUALS PRIOR TO THE FILING WITH THE IRS. MONITORING AND ENFORCEMENT OF THE CONFLICT OF INTEREST POLICY FORM 990, PART VI, LINE 12C WILKES UNIVERSITY'S CONFLICT OF INTEREST POLICY COVERS ALL BOARD MEMBERS AND ANY INDIVIDUAL THAT HAS BUDGETARY / FINANCIAL RESPONSIBILITIES WITHIN THE UNIVERSITY. ANY CONFLICTS OF INTERESTS CONCERNING BOARD MEMBERS ARE FORWARDED TO THE AUDIT COMMITTEE FOR REVIEW AND APPROVAL. ALL CONFLICT OF INTEREST STATEMENTS ARE REVIEWED UPON SUBMISSION AND FORWARDED TO THE AUDIT COMMITTEE AS APPROPRIATE. ANY UNIVERSITY ACTIVITIES THAT HAVE A POTENTIAL CONFLICT ARE USUALLY DETECTED BEFORE A CONTRACT IS EXECUTED. PROCESS FOR DETERMINING COMPENSATION FORM 990, PART VI, LINES 15A AND 15B THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES PERFORMS AN ANNUAL REVIEW AND APPROVAL OF TOP MANAGEMENT COMPENSATION AS WELL AS OFFICERS AND / OR KEY EMPLOYEES. BENCHMARK DATA FROM COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION FOR HUMAN RESOURCES (CUPA) IS USED FOR COMPARATIVE PURPOSES FOR EXECUTIVE POSITIONS. THE LAST BENCHMARKING COMPARISON WAS COMPLETED WITHIN THE PAST FIVE YEARS. THE UNIVERSITY KEEPS WRITTEN DOCUMENTATION OF ITS DELIBERATION AND DECISION MAKING PROCESS. GOVERNING DOCUMENTS PART VI, SECTION C, LINE 19 WILKES UNIVERSITY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 5 UNREALIZED GAIN....................................$ 4,159,806 CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS....... $839,160 =========== TOTAL $ 4,998,966 =========== WU REAL ESTATE LLC 170 S FRANKLIN STREET WILKESBARRE PA 18766 205799312 STUDNT RENTAL PA 68564 12519117 WILKES UNIV FLANNERY - CRUT ANNUITY PA TRUST 0 335244 1.00000 SAVITZ - CRAT ANNUITY PA TRUST 0 6495 1.00000 BARTUSKA-GORKA - CRUT ANNUITY PA TRUST 0 214990 1.00000 LEITER - CRUT ANNUITY MD TRUST 0 21140 1.00000 false false false false false false false false false false false false false false false false false false