2012-11-14T16:32:13-06:00 2012-06-30 232932984 PARENTEBEARD LLC 20 STANWIX STREET SUITE 800 PITTSBURGH PA 15222 990 2011-07-01 250965603 WAYNESBURG UNIVERSITY WAYN 7248523241 51 WEST COLLEGE STREET WAYNESBURG PA 15370 ROY R BARNHART 7248523241 2012-11-08 1 BRIAN R LENART EA P00289136 4126976400 2011 2016-02-24 21:20:13Z ROY R BARNHART 51 WEST COLLEGE STREET WAYNESBURG PA 15370 62741998 0 X WWW.WAYNESBURG.EDU X 1850 PA PROVIDE HIGHER EDUCATION TO STUDENTS IN UNDERGRADUATE AND GRADUATE PROGRAMS. 24 24 1266 24 15625 1299 6531560 3662513 44901469 44614332 1917612 2364203 354539 334653 53705180 50975701 8949452 9520540 0 0 21305140 22103888 0 0 609867 18280539 18216890 48535131 49841318 5170049 1134383 138422784 136199845 44737517 43616635 93685267 92583210 X WAYNESBURG UNIVERSITY EDUCATES STUDENTS TO MAKE CONNECTIONS BETWEEN FAITH, LEARNING AND SERVING SO THEY MIGHT FAITHFULLY TRANSFORM THEIR COMMUNITIES AND THE WORLD. AS A CHRISTIAN COMPREHENSIVE UNIVERSITY, WE STRIVE TO INSPIRE AND CHALLENGE EVERY UNDERGRADUATE AND GRADUATE STUDENT TO A LIFE OF LEADERSHIP AND PURPOSE FOR THE GLORY OF GOD. 0 0 43596291 9520540 44614332 INSTITUTIONAL COMMITMENTSWAYNESBURG UNIVERSITY EDUCATES STUDENTS BASED UPON: - A COMMITMENT TO THE PURSUIT OF TRUTH IN GOD'S WORLD THROUGH RIGOROUS SCHOLARSHIP, ACADEMIC EXCELLENCE AND CREATIVE EXPRESSIONS, FOUNDED IN THE LIBERAL ARTS AND SCIENCES. - A COMMITMENT TO THE AUTHORITY OF THE SCRIPTURES AS THE ESSENTIAL REFERENCE FOR FAITH AND LIFE. THE SCRIPTURES INFORM AND DEFINE OUR PERSPECTIVES IN SERVICE OF CHRIST AND HIS KINGDOM. - A COMMITMENT TO THE INTEGRATION OF CHRISTIAN FAITH WITHIN THE VARIOUS ACADEMIC DISCIPLINES AND PROFESSIONAL PROGRAMS FOR BOTH UNDERGRADUATE AND GRADUATE STUDENTS. - A COMMITMENT TO EMPLOY FACULTY AND STAFF MEMBERS WHO EMBODY THE VALUES AND PERSPECTIVES OF THE CHRISTIAN FAITH IN THEIR TEACHING, PERSONAL LIVES AND RELATIONSHIPS WITH STUDENTS. - A COMMITMENT TO UNDERSTAND AND ENGAGE OTHERS LOCALLY AND AROUND THE WORLD, THROUGH THE USE OF OUR EDUCATION AND TALENTS IN SERVICE OF JUSTICE AND RIGHTEOUSNESS. - A COMMITMENT TO STUDENT-CENTERED EDUCATION WHERE THE INTERESTS, ASPIRATIONS AND NEEDS OF EACH STUDENT ARE VALUED AND ENCOURAGED. - A COMMITMENT TO WELCOME STUDENTS FROM VARIOUS CULTURES, BACKGROUNDS, EDUCATIONAL EXPERIENCES AND AGES TO ENHANCE DIVERSITY AND CONTRIBUTE TO THE LEARNING COMMUNITY. - A COMMITMENT TO DEVELOP STUDENTS WHO WILL EXHIBIT INTEGRITY, BOTH PERSONALLY AND PROFESSIONALLY, BASED UPON THE SCRIPTURAL CALLING OF JESUS CHRIST FOR ALL OF LIFE.INSTITUTIONAL GOALSWAYNESBURG UNIVERSITY SEEKS TO:FOR STUDENTS - PREPARE STUDENTS AT BOTH THE UNDERGRADUATE AND GRADUATE LEVELS WITH THE KNOWLEDGE, SKILLS AND VALUES NECESSARY FOR THE VOCATIONS TO WHICH THEY ARE CALLED BY GOD. - CULTIVATE THE ABILITY OF STUDENTS TO THINK CRITICALLY AND TO APPLY THESE SKILLS IN LIFELONG SCHOLARSHIP AND ETHICAL DECISION MAKING. - DEVELOP STUDENTS WHO PRACTICE EFFECTIVE COMMUNICATION SKILLS IN BOTH THE SPOKEN AND WRITTEN WORD IN MANY DIFFERENT CONTEXTS. - EDUCATE STUDENTS TO APPLY PROCESSES OF SCIENTIFIC INQUIRY AND QUANTITATIVE REASONING SKILLS IN EXAMINING BOTH INFORMATION AND THEORETICAL MODELS. - PROVIDE STUDENTS WITH OPPORTUNITIES TO RECOGNIZE LIFESTYLES, TRADITIONS AND RITUALS OF DIVERSE CULTURES. - EQUIP STUDENTS TO EXAMINE AND EMPLOY INFORMATION RESOURCES AND TECHNOLOGIES WITH WISDOM AND FAITHFULNESS. - NURTURE STUDENTS' USE OF THEIR CREATIVE ABILITIES AND THEIR APPRECIATION OF AESTHETIC EXPRESSIONS OF OTHERS. - CHALLENGE STUDENTS TO EXCEL IN SCHOLARSHIP, RESEARCH AND INDEPENDENT ACADEMIC INQUIRY WITHIN THE BROAD CONTEXT OF THE LIBERAL ARTS TRADITION. - EDUCATE STUDENTS WITH DEPTH OF KNOWLEDGE IN ONE OF THE ACADEMIC AND APPLIED DISCIPLINES THROUGH INSTRUCTION AND RESEARCH AT EITHER THE UNDERGRADUATE OR GRADUATE LEVEL. - ENGAGE STUDENTS TO BE SERVANTS AND CITIZENS IN THEIR LOCAL COMMUNITIES AND TO TAKE RESPONSIBILITY FOR INVOLVEMENT IN THE WORLD IN WHICH THEY LIVE.WAYNESBURG UNIVERSITY SEEKS TO:FOR THE CAMPUS COMMUNITY - FOSTER A CHRISTIAN LEARNING COMMUNITY WHERE STUDENTS ARE CHALLENGED AND ENCOURAGED TO DEVELOP AS PEOPLE THROUGH A VARIETY OF CURRICULAR AND CO-CURRICULAR PROGRAMS. - NURTURE A CAMPUS ENVIRONMENT WHERE THE SPIRITUAL DEVELOPMENT OF STUDENTS, FACULTY AND STAFF IS AFFIRMED THROUGH PROGRAMS AND RESOURCES. - MAINTAIN AN ENVIRONMENT CHARACTERIZED BY FAIRNESS AND JUSTICE AS EXPRESSED THROUGH INSTITUTIONAL POLICIES AND PROCEDURES. - MAKE AVAILABLE CRITICAL AND EMERGING INFORMATIONAL, PHYSICAL AND TECHNOLOGY RESOURCES NECESSARY TO SUPPORT THE EDUCATION AND RESEARCH OF A LEARNING COMMUNITY. - PROVIDE EFFECTIVE ACADEMIC SUPPORT SERVICES THAT WILL ENCOURAGE AND FACILITATE INDIVIDUAL EDUCATIONAL ACHIEVEMENT FOR ALL STUDENTS. - ADDRESS THE CHANGING EDUCATIONAL AND CULTURAL NEEDS OF THE LOCAL REGION THROUGH EDUCATIONAL DEGREES, INSTRUCTIONAL PROGRAMS, UTILIZATION OF CAMPUS AND GRADUATE CENTER RESOURCES AND STRATEGIC PARTNERSHIPS. - EFFECTIVELY MANAGE FISCAL AND HUMAN RESOURCES TO PROVIDE AFFORDABLE OPPORTUNITIES FOR CHRISTIAN HIGHER EDUCATION. - EXHIBIT RESPONSIBLE CARE FOR THE CREATION THROUGH THE INSTITUTION'S POLICIES AND PRACTICES. 43596291 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 0 0 1 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 3516 0 1 1266 1 1 1 0 0 0 0 1 1 0 0 0 0 X 24 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X ROY R BARNHART SR VP FOR FINANCE 7248523241 51 WEST COLLEGE STREET WAYNESBURG PA 15370 H MATHILDA HORST 2.00 X X 0 0 0 MARK E FOX 2.00 X X 0 0 0 FRED DEPALMA 2.00 X X 0 0 0 ELIZABETH BUNDY 2.00 X X 0 0 0 CHERYL L ALLEN 2.00 X 0 0 0 STUART BROBERG 2.00 X 0 0 0 CLIFFORD CAMPBELL 2.00 X 0 0 0 MARK A HARNER 2.00 X 0 0 0 VANESSA DESALVO GETZ 2.00 X 0 0 0 TERENCE H MURPHY 2.00 X 0 0 0 GARY L GUERRIERI 2.00 X 0 0 0 MARTHA D SMITH 2.00 X 0 0 0 CARROLL K MORRISON 2.00 X 0 0 0 WILLIAM H NELSON II 2.00 X 0 0 0 JAMES A ROWAN 2.00 X 0 0 0 WALTER A SALING JR 2.00 X 0 0 0 LARRY P SHEFFIELD 2.00 X 0 0 0 W ROBERT STOVER 2.00 X 0 0 0 PARKER T WILLIAMSON 2.00 X 0 0 0 SCOTT S WEAVER 2.00 X 0 0 0 MARILYN H WEST 2.00 X 0 0 0 JOHN F WILEY 2.00 X 0 0 0 DONALD P WILSON 2.00 X 0 0 0 JEFFREY M WYMARD 2.00 X 0 0 0 TIMOTHY R THYREEN 40.00 X 278642 0 41854 ROY R BARNHART 40.00 X 142352 0 30106 DOUGLAS LEE 40.00 X 256001 0 42339 ROBIN KING 40.00 X 131802 0 31664 RICHARD L NOFTZGER JR 40.00 X 144868 3140 32810 ROBERT GRAHAM 40.00 X 142885 2355 32885 LYNETTE JACK 40.00 X 112918 0 24603 DANA BAER 40.00 X 105748 0 25995 1315216 5495 262256 9 0 1 0 VOLPATT CONTRUCTION COMPANY 100 CASTLEVIEW ROAD PITTSBURGH PA 15234 CONSTRUCTION 2357300 ALADDIN FOOD MANAGEMENT SERVICES LLC 16567 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 FOOD MANAGEMENT 1977619 TEDCO CONTRUCTION CORPORATION TEDCO PLACE CARNEGIE PA 15106 CONSTRUCTION 884098 PNC BANK PO BOX 747046 PITTSBURGH PA 15274 FINANCIAL 533858 MARTHINSEN & SALVITTI INSURANCE 140 PARK AVENUE SUITE 1 WASHINGTON PA 15301 INSURANCE 341206 36 22998 1396496 2243019 55478 3662513 TUITION & FEES 611600 36151502 36151502 AUXILIARY ENTERPRISES 611600 8462830 8462830 44614332 1201226 1201226 23976 23976 72639 63635 9004 9004 -1512 10516 12827459 14394 11678876 0 1148583 14394 1162977 1162977 28227 22998 23786 4441 4441 OTHER SOURCES 611600 176095 176095 STUDENT FEES 713940 104000 104000 SUMMER CONFERENCES 531190 17137 17137 297232 50975701 44614332 15625 2683231 94377 94377 9298874 9298874 127289 127289 791293 64099 424423 302771 14952151 12973016 1979135 865878 693991 153650 18237 4254131 3680811 573320 1240435 1069042 151463 19930 155109 155109 253874 253874 83025 83025 56310 56310 1803543 1639651 163892 715033 424166 290867 216516 159594 56922 629921 629921 2010180 1955546 54634 763495 622849 48928 91718 1449588 1449588 3566883 3566883 408597 263519 145078 INSTITUTIONAL 1248385 1248385 0 0 EQUIPMENT AND SUPPLIES 1108729 793887 142489 172353 EQUIPMENT REPAIR AND MA 877645 705894 171751 0 STUDENT SERVICES 871221 771900 99321 0 1998836 1363009 630969 4858 49841318 43596291 5635160 609867 16978 20299 14266729 9712880 79190 58785 1854250 2055273 15287 15095 57630 47169 109534608 39812712 67934468 69721896 50723164 48244043 2400648 5295107 1074440 1029298 138422784 136199845 3156318 2693200 2011001 2375877 38146548 37051598 1423650 1495960 44737517 43616635 X 57816360 60129015 7431537 4387832 28437370 28066363 93685267 92583210 138422784 136199845 X 1134383 -2236440 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 0 50390181 547524 -15029 1086314 733308 49103054 41681501 821901 9598495 999643 712073 50390181 37417943 642805 4720053 640200 459100 41681501 46532926 1348173 -9258099 700138 504919 37417943 0.40000 0.57000 0.03000 1 0 278038 2537544 2815582 87823851 25391525 62432326 18586842 14421187 4165655 308333 308333 69721896 STUDENT DEPOSITS 240117 UNEMPLOYMENT COMPENSATION RESERVE 371633 SCHOLARSHIP LIABILITY 6785 AGENCY FUNDS 235591 ESCHEAT LIABILITY 6873 ANNUITIES PAYABLE 678379 DIRECT LOANS -43418 1495960 50975701 49841318 1134383 -2236440 -2236440 -1102057 39347034 -2236440 5000 -9428338 -11659778 51006812 56310 -87421 -31111 50975701 40449091 5000 87421 92421 40356670 56310 9428338 9484648 49841318 PART III, LINE 4: WAYNESBURG UNIVERSITY IS A PRIVATE, INDEPENDENT, COEDUCATIONAL UNIVERSITY AND SHOWCASES ARTIFACTS, POTTERY, AND RECORDS DATING FROM 1817 TO THE PRESENT IN THE UNIVERSITY MUSEUM AVAILABLE FOR STUDENT AND PUBLIC VIEWING. THE LIBRARY MAINTAINS A COLLECTION OF OLD BOOKS FOR RESEARCH. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ENDOWMENT FUND REPRESENTS AN IMPORTANT POOL OF FINANCIAL RESOURCES NEEDED TO ACHIEVE AND SUSTAIN THE HIGHEST LEVELS OF ACADEMIC EXCELLENCE IN ACCORDANCE WITH THE WAYNESBURG UNIVERSITY MISSION STATEMENT. THIS DOCUMENT PROVIDES A SET OF GENERAL GUIDELINES THAT WILL PERMIT THE BOARD OF TRUSTEES OF WAYNESBURG UNIVERSITY, WITH THE ADVICE AND RECOMMENDATIONS OF THE FINANCE AND PROPERTY COMMITTEE, TO OVERSEE THE INVESTMENT OF THE ENDOWMENT FUND FOR THE BENEFIT OF THE UNIVERSITY. THIS FUND IS A PERMANENT FUND WITH DISCIPLINED INVESTMENT OBJECTIVES AND CONSISTENT MONEY MANAGEMENT STRATEGIES THAT CAN ACCOMMODATE ANY RELEVANTLY REASONABLE OR PROBABLE EVENTS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE UNIVERSITY ACCOUNTS FOR UNCERTAINTIES IN INCOME TAXES IN ACCORDANCE WITH THE AUTHORITATIVE GUIDANCE, WHICH PRESCRIBES A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS BEEN MET. MANAGEMENT DETERMINED THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD AT JUNE 30, 2012 AND 2011. THE UNIVERSITY'S FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS REMAIN SUBJECT TO EXAMINATION BY THE IRS FOR THE YEARS SUBSEQUENT TO JUNE 30, 2008. PART XII, LINE 2D - OTHER ADJUSTMENTS: STUDENT AID -9,426,163. NURSING FACILITY -2,175. PART XII, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -63,635. DIRECT FUNDRAISING EXPENSES -23,786. PART XIII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 63,635. DIRECT FUNDRAISING EXPENSES 23,786. PART XIII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID 9,426,163. NURSING FACILITY 2,175. 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 GENERAL PUBLICATION AND THE UNIVERSITY CATALOG EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 WAYNESBURG UNIVERSITY RECEIVES PENNSYLVANIA ASSISTANCE GRANTS, ACT 101, SEOG SCHOLARSHIPS, PELL AND FINANCIAL AID FOR STUDENTS THROUGH THE WORK STUDY PROGRAM. 0 0 0 0 0 0 0 0 0 THE UNIVERSITY PROVIDED EDUCATION GRANTS FOR TUITION AND FEES FOR INTERNATIONAL STUDENTS IRELAND, KOREA, KAZAKHSTAN 4 127289 STUDENT ACCOUNTS ARE CREDITED WITH SCHOLARSHIP N/A N/A 0 0 0 0 0 0 GOLF OUTING 51225 22998 28227 900 8188 6469 8229 51225 22998 28227 900 8188 6469 8229 23786 4441 1 WAYNESBURG FRANKLIN TOWNSHIP VOLUNTEER FIRE COMPANY 55 WEST GREENE STREET WAYNESBURG PA 15370 510499260 501(C)(3) 10000 N/A N/A FIRE TRUCKS AND EQUIPMENT BOROUGH OF WAYNESBURG 90 EAST HIGH STREET WAYNESBURG PA 15370 256000499 501(C)(3) 84377 N/A N/A SIDEWALKS AND LIGHTING 2 SCHOLARSHIPS - SEOGNUMEROUS STUDENTS RECEIVED ASSISTANCE 591 93400 N/A N/A SCHOLARSHIPS - GRANTS AND OTHERNUMEROUS STUDENTS RECEIVED ASSISTANCE 1447 9205474 N/A N/A PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: ALL GRANTS ARE ADMINISTERED BY AN ADMINISTRATIVE STAFF PERSON. THAT STAFF PERSON'S WORK IS REVIEWED BY THEIR APPROPRIATE VICE PRESIDENT. ALL FINANCIAL DATA IS MAINTAINED BY EITHER THE SENIOR ACCOUNTANT OR THE CONTROLLER WITH REVIEW BY THE SENIOR VICE PRESIDENT FOR FINANCE AND ADMINISTRATION. X X X X 1 1 X X X 0 1 0 0 0 0 0 0 0 TIMOTHY R THYREEN 278642 0 0 0 0 0 27854 0 14000 0 320496 0 0 0 ROY R BARNHART 142352 0 0 0 0 0 10028 0 20078 0 172458 0 0 0 DOUGLAS LEE 256001 0 0 0 0 0 17920 0 24419 0 298340 0 0 0 ROBIN KING 131802 0 0 0 0 0 9226 0 22438 0 163466 0 0 0 RICHARD L NOFTZGER JR 144868 0 0 0 0 3140 10141 0 22669 0 177678 3140 0 0 ROBERT GRAHAM 142885 0 0 0 0 2355 10002 0 22883 0 175770 2355 0 0 PART I, LINE 1A THE PRESIDENT'S WIFE INFREQUENTLY TRAVELS WITH THE PRESIDENT ON OFFICIAL UNIVERSITY BUSINESS. THE PRESIDENT IS PROVIDED A COUNTRY CLUB MEMBERSHIP THAT IS USED FOR BUSINESS PURPOSES THE UNIVERSITY PROVIDES CLEANING SERVICES FOR THE UNIVERSITY OWNED PRESIDENT'S RESIDENCE. IT IS THE UNIVERSITY'S POSITION THAT THESE ARE ALL BUSINESS RELATED AND ARE, THEREFORE, NOT INCLUDED IN THE PRESIDENT'S COMPENSATION. PART I, LINE 4B TIMOTHY THYREEN, PRESIDENT, $8,286.82 ALLEGHENY COUNTY HIGHER EDUCATION BUILDING AUTHORITY 251650137 01729EKE6 2007-08-09 10487769 CONSTRUCTION OF NEW DORMITORY 1 0 1 ALLEGHENY COUNTY HIGHER EDUCATION BUILDING AUTHORITY 251650137 01729EJM0 2006-05-24 12775000 CONSTRUCTION OF FITNESS CENTER, DINING HALL ADDITION, PAY OFF BOND ISSUE 1 0 1 PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 232243852 70917NK86 2004-06-29 3000000 CONSTRUCTION OF NEW DORMITORY 0 0 1 WASHINGTON COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 251437320 2010-06-09 4200000 CONSTRUCTION OF LOWER LEVEL OF MULTI-PURPOSE FACILITY 0 0 0 10498787 686558 273166 97858 9500000 2008 0 0 1 1 12789950 807240 120294 6000000 2008 1 0 1 1 3000000 54031 2914325 31644 2006 0 0 1 1 4200000 78000 4122000 2011 0 0 1 1 0 0 0 0 1 0 0 1 0 0 0.07000 0.00000 0.07000 1 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 1 1 1 0 0 0 1 1 0 0 0 0 1 X WASHINGTON COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 251437320 2011-05-02 7748000 REFINANCE 2002 BOND ISSUE 0 0 0 7700000 7748000 48000 1 0 1 1 0 0 0 0 1 1 0 0 0 0 1 X 8552 FAIR MARKET VALUE X 3 8126 FAIR MARKET VALUE X PORTABLE OPTICAL ANALYZER 1 23800 FAIR MARKET VALUE X BABY GRAND PIANO 1 15000 FAIR MARKET VALUE 0 1 1 THIRD PARTY USE: PART I, LINE 32B: THE UNIVERSITY USES THE SERVICES OF EDWARD JONES TO SELL CONTRIBUTED SECURITIES FORM 990, PART VI, SECTION B, LINE 11 .THE AUDIT AND FINANCE COMMITTEE REVIEWED THE RETURN PRIOR TO SUBMISSION TO THE IRS FORM 990, PART VI, SECTION B, LINE 12C BOTH BOARD MEMBERS AND SENIOR STAFF COMPLETE A CONFLICT OF INTEREST FORM EACH YEAR AND SUBMIT IT TO THE BOARD CHAIR. SENIOR STAFF ARE RESPONSIBLE FOR MONITORING FACULTY AND STAFF IN ANY AGREEMENTS THAT THE UNIVERSITY ENTERS INTO WITH THOSE INDIVIDUALS. CONFLICTS WILL BE HANDLED BY THE PRESIDENT AND THE BOARD OF TRUSTEES ALONG WITH UNIVERSITY COUNCIL. THEY WILL BE HANDLED AND RESOLVED ON A CASE-BY-CASE BASIS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD COMPENSATION COMMITTEE REVIEWS THE PERFORMANCE OF THE CEO, COMPARATIVE PAY STATISTICS AS WELL AS THE CEO'S MULTI-YEAR CONTRACT IN DETERMINING COMPENSATION. THE CEO REVIEWS PERFORMANCE AND COMPARATIVE PAY STATISTICS FOR ALL VICE PRESIDENTIAL AND HIGHER POSITIONS. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST, THE ORGANIZATION WILL MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -2,236,440. AUDIT COMMITTEE RESPONSIBILITIES THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR