2011-12-27T08:35:00-06:00 2011-05-31 BKD LLP 201 N Illinois Street Indianapolis IN 46204 990 2010-06-01 350867977 Butler University BUTL 3179409779 4600 Sunset Avenue Indianapolis IN 46208 BRUCE ARICK 3179409779 2011-12-21 true JOYCE DULWORTH 3173834000 2010 2016-02-24 21:20:13Z JAMES DANKO 4600 SUNSET AVENUE INDIANAPOLIS IN 46208 235785679 false X www.butler.edu X 1850 IN TO PROVIDE THE HIGHEST QUALITY LIBERAL AND PROFESSIONAL EDUCATION AND TO INTEGRATE THE LIBERAL ARTS WITH PROFESSIONAL EDUCATION BY CREATING AND FOSTERING A STIMULATING INTELLECTUAL COMMUNITY. 33 33 3238 2526 70012 5782180 12522918 149494222 162611919 8128342 7657442 78149 100089 163482893 182892368 43434483 46403990 0 0 76884496 79098697 0 0 2065141 46976465 51005365 167295444 176508052 -3812551 6384316 340555560 373220085 125978737 124619864 214576823 248600221 X TO PROVIDE THE HIGHEST QUALITY OF LIBERAL AND PROFESSIONAL EDUCATION AND TO INTEGRATE THE LIBERAL ARTS WITH PROFESSIONAL EDUCATION, BY CREATING AND FOSTERING A STIMULATING INTELLECTUAL COMMUNITY BUILT UPON INTERACTIVE DIALOGUE AND INQUIRY AMONG STUDENTS, FACULTY, AND STAFF. false false 156934381 46403990 162611919 EDUCATION BUTLER IS A NATIONALLY RECOGNIZED COMPREHENSIVE UNIVERSITY ENCOMPASSING SIX COLLEGES: BUSINESS, COMMUNICATION, EDUCATION, FINE ARTS, LIBERAL ARTS AND SCIENCES, AND PHARMACY AND HEALTH SCIENCES. TOGETHER, THESE COLLEGES OFFER OVER 60 UNDERGRADUATE MAJORS, EIGHT PRE-PROFESSIONAL MAJORS, ONE FIRST PROFESSIONAL AND 18 MASTER'S DEGREES. AROUND 4,600 STUDENTS ARE ENROLLED AT BUTLER, REPRESENTING 45 STATES AND 52 COUNTRIES. NINETY-FOUR PERCENT OF BUTLER STUDENTS WILL HAVE PARTICIPATED IN SOME FORM OF INTERNSHIP, STUDENT TEACHING, CLINICAL ROTATION, RESEARCH OR SERVICE LEARNING BY THE TIME THEY GRADUATE. IN ADDITION TO THIS PROFESSIONAL EXPERIENCE, BUTLER STUDENTS DEVELOP LIFELONG SKILLS IN CRITICAL THINKING, EFFECTIVE COMMUNICATION, COOPERATIVE TEAMWORK AND ETHICAL DECISION MAKING. BUTLER ENDEAVORS TO PREPARE STUDENTS NOT SIMPLY TO MAKE A LIVING, BUT TO LIVE LIVES OF PURPOSE IN WHICH PERSONAL FLOURISHING IS INTERTWINED WITH THE WELFARE OF OTHERS. BUTLER'S OVERALL PLACEMENT RATE WITHIN SIX MONTHS OF GRADUATION AVERAGES 93 PERCENT, INCLUDING 23 PERCENT WHO GO ON TO GRADUATE OR PROFESSIONAL SCHOOLS. AUXILIARY CLOWES MEMORIAL HALL BUTLER UNIVERSITY'S 2,200-SEAT CLOWES MEMORIAL HALL OPENED TO THE PUBLIC ON OCT. 18, 1963. THIS PROFESSIONAL PERFORMING ARTS FACILITY IS HOME TO CLOWES PRESENTS - AN ANNUAL SERIES OF MUSIC, THEATRE AND DANCE PERFORMANCES - AND A K-12 EDUCATION PROGRAM. CLOWES IS ALSO THE HOME OF RESIDENT COMPANIES SUCH AS THE INDIANAPOLIS OPERA, JCFA'S MUSIC AT BUTLER AND THE BUTLER BALLET. OTHER GREAT ORGANIZATIONS SUCH AS BROADWAY IN INDIANAPOLIS, MUSIC FOR ALL (BANDS OF AMERICA) AND BUTLER'S VISITING WRITERS SERIES, DIVERSITY LECTURE SERIES AND RELIGION SEMINARS ALL USE THE FACILITY. HEALTH AND RECREATION COMPLEX A HEALTH AND RECREATION COMPLEX THAT IS EQUIPPED WITH RECREATION COURTS, AN INDOOR JOGGING TRACK, AN AQUATICS AREA, A WEIGHT AND FITNESS SPACE, AND A LOUNGE AND A JUICE BAR, OPENED IN FALL 2006. STUDENTS ENROLLED IN AT LEAST 12 CREDIT HOURS ARE AUTOMATIC MEMBERS OF THE HRC. MEMBERSHIP IS ALSO AVAILABLE TO UNIVERSITY FACULTY, STAFF, ALUMNI AND A LIMITED NUMBER OF COMMUNITY MEMBERS. ATHLETICS BUTLER OFFERS 19 INTERCOLLEGIATE SPORTS. ALL COMPETE IN THE HORIZON LEAGUE, EXCEPT FOOTBALL, WHICH IS A MEMBER OF THE PIONEER FOOTBALL LEAGUE. THROUGHOUT THE YEARS, BUTLER'S STUDENT ATHLETES HAVE COMPILED IMPRESSIVE RECORDS BOTH ON AND OFF THE PLAYING COURT AND FIELD. OVER THE PAST FIVE YEARS, BUTLER TEAMS HAVE CAPTURED 29 CONFERENCES IN TWO DIFFERENT LEAGUES. THE BULLDOGS HAVE MADE APPEARANCES IN NCAA NATIONAL CHAMPIONSHIP TOURNAMENTS IN MEN'S AND WOMEN'S BASKETBALL, MEN'S SOCCER, VOLLEYBALL, MEN'S CROSS COUNTRY, LACROSSE, AND BASEBALL. CURRENTLY, BUTLER HAS OVER 350 STUDENT-ATHLETES. ROOM AND BOARD BUTLER STUDENTS CAN CHOOSE FROM A NUMBER OF HOUSING OPTIONS, INCLUDING AN UPPERCLASSMAN RESIDENTIAL APARTMENT VILLAGE, AN APARTMENT-STYLE RESIDENCE HALL, ONE ALL-WOMEN RESIDENCE HALL, TWO COEDUCATIONAL RESIDENCE HALLS WITH OPTIONAL LIVING-LEARNING CENTERS, AND A COMBINED 15 FRATERNITIES AND SORORITIES. ALL BUTLER UNDERGRADUATES ARE REQUIRED TO LIVE ON CAMPUS THROUGH JUNIOR YEAR. 156934381 true true false false false false true false true true true false false true false false true true false true false true false true false false false true true true true false false false false true false false false false true true false false false true true false false false true 5973 0 true 3238 true true true false false false false true true false false false false X 33 33 false false false false false false false true true false false false true true true true true true true false IN X BUTLER UNIV BUSINESS OFFICE 3179409779 4600 SUNSET AVENUE INDIANAPOLIS IN 46208 KATHRYN G BETLEY 1.0 X 0 0 0 KEVIN AULT 1.0 X 0 0 0 KEITH W BURKS 1.0 X 0 0 0 HOWARD SCHROTT 1.0 X 0 0 0 ALBERT M CHEN 1.0 X 0 0 0 JOHN D COOKE 1.0 X 0 0 0 RICHARD CUMMINGS 1.0 X 0 0 0 CLAUDE E DAVIS JR 1.0 X X 0 0 0 ROLLIN M DICK 1.0 X 0 0 0 RONALD W DOLLENS 1.0 X X 0 0 0 JOHN B DUNN 1.0 X 0 0 0 CRAIG E FENNEMAN 1.0 X X 0 0 0 THOMAS J FISCHER 1.0 X 0 0 0 GARY BUTKUS 1.0 X 0 0 0 JOHN R HARGROVE 1.0 X X 0 0 0 R MICHAEL HENDERSON 1.0 X 0 0 0 BETTY L LOFTON 1.0 X 0 0 0 STEPHEN E MCKENZIE 1.0 X 0 0 0 COREY B MCPHERRIN 1.0 X 0 0 0 ROBERT L MYERS 1.0 X 0 0 0 WAYNE E PATRICK 1.0 X 0 0 0 SHARI ALEXANDER RICHEY 1.0 X 0 0 0 JATINDER BIR SINGH SANDHU 1.0 X 0 0 0 HOWARD L SHEARON 1.0 X 0 0 0 MELISSA STONE-HICKMAN 1.0 X 0 0 0 JAMES P WHITE 1.0 X X 0 0 0 EUGENE WHITE 1.0 X 0 0 0 BILLIE LOU WOOD 1.0 X 0 0 0 DENNIS BASSETT 1.0 X 0 0 0 KEITH FALLER 1.0 X 0 0 0 M JAMES JOHNSTON 1.0 X 0 0 0 JAMES LILL 1.0 X 0 0 0 JAMIE PHILLIPPE 1.0 X 0 0 0 BOBBY FONG 50.0 X 338180 0 55022 BRUCE ARICK 50.0 X 177128 0 37195 MARK HELMUS 50.0 X 147794 0 34094 ELLEN A CLARK 50.0 X 48699 0 8791 JAYNE COMSTOCK 50.0 X 194865 0 29453 BRAD STEVENS 50.0 X 799975 0 53422 MARY ANDRITZ 50.0 X 222244 0 36863 LARRY O'CONNOR 50.0 X 220144 0 42618 BARRY COLLIER 50.0 X 225755 0 38492 CHARLES WILLIAMS 50.0 X 225635 0 41666 2600419 0 377616 9 false true false ANTHEM PO BOX 951254 CLEVELAND OH 44193 INSURANCE 6622434 ARAMARK CATERING SERVICE 704 WEST HAMPTON DRIVE INDIANAPOLIS IN 46208 BOARD/CATERING 4830825 VP CONSTRUCTION PO BOX 20816 INDIANAPOLIS IN 46220 CONSTRUCTION 3085291 US BANK CORPORATE PAYMENT SYSTEM PO BOX 790428 ST LOUIS MO 63179 CARD SERVICER 2507053 NORLEASE INC 50 S LA SALLE STREET 1 CHICAGO IL 60603 RENT/LEASING 1308133 94 34349 1193282 11295287 329889 12522918 STUDENT TUITION AND FEES 900099 127867144 127867144 RESIDENCE HALLS/ROOM & BOARD 611710 17905246 17905246 ATHLETIC REVENUE 611710 5447632 5447632 AUXILIARY REVENUE 900099 4376440 4376440 OTHER MISCELLANOUS 611710 7015457 7015457 162611919 3716575 -20167 3736742 18325 18325 0 122254 32075 90179 90179 90179 54574076 2186577 51209810 1628301 3364266 558276 3922542 3922542 33035 34349 23125 9910 9910 0 0 0 182892368 162611919 70012 7687519 0 45693795 45693795 710195 710195 0 846903 846903 0 59719542 51375568 7197499 1146475 4325236 3704719 536601 83916 10115288 7046475 2882826 185987 4091728 3481884 532677 77167 0 720443 47371 673072 145659 145659 0 0 4204 4204 9721023 7946829 1532262 241932 803127 561143 239665 2319 6640512 6041043 440411 159058 732088 563169 165041 3878 0 9009651 7917513 1090898 1240 5420296 4637863 665001 117432 0 308918 267161 35139 6618 4868722 4328742 539980 0 11930333 11015276 915057 1155932 763107 376861 15964 ALLOCATION OF INDIRECT COSTS -5438753 -3650390 -1788363 AUXILIARY 1549218 1351052 189910 8256 DUES, FEES, & SUBSCRIPTIONS 1012837 840236 169196 3405 REPAIRS & MAINTENANCE 919937 847213 72724 MISCELLANEOUS 1501218 1444417 45307 11494 176508052 156934381 17508530 2065141 12419761 14075202 5306459 6385693 2244385 2418775 458637 449920 11151969 11564049 223266 237490 627402 949071 292578634 178432453 116299987 114146181 143654680 165864072 31534831 38888208 16634183 18241424 340555560 373220085 12625240 14121506 4341491 4812469 98784600 95484049 10227406 10201840 125978737 124619864 X 52396130 73392687 29585949 39215690 132594744 135991844 214576823 248600221 340555560 373220085 X 6384316 27639082 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X false 135891556 3272033 31515273 2515275 5384824 162778763 121617939 698601 21898697 2722098 5601583 135891556 173514699 4940842 -47919053 2900284 6018265 121617939 0.08440 0.91560 false true true 1475828 1475828 198481231 98800881 99680350 6262998 5654906 608092 36563178 31650651 4912527 49795399 42326015 7469384 114146181 HEDGE FUND 7769976 F VENTURE CAPITAL - ALT INVEST 5421962 F REALTY - ALT INVEST 1748034 F PRIVATE EQUITY - ALT INVEST 6983832 F NATURAL RESOURCES - ALT INVEST 10865525 F LOANS/FIXED INC - ALT INVEST 6098879 F 38888208 0 ANNUITIES AND TRUST PAYABLE 1788515 ADV FROM GOV - STUDENT LOANS 7462528 FUNDS HELD FOR CAMPUS ORGS 950797 10201840 182892368 176508052 6384316 27639082 27639082 34023398 164978058 27639082 850598 28489680 136488378 46403990 46403990 182892368 130104062 130104062 46403990 46403990 176508052 EXEMPT PURPOSE SCHEDULE D, PART III, LINE 4 BUTLER UNIVERSITY MAINTAINS WORKS OF ART, MUSICAL INSTRUMENTS, AND A RARE BOOK COLLECTION FOR EDUCATION, SCHOLARLY RESEARCH, AND PRESERVATION FOR FUTURE GENERATIONS. INTENDED USES OF THE ORGANIZATION'S ENDOWMENT FUNDS SCHEDULE D, PART V, LINE 4 THE ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE GOVERNING BODY TO FUNCTION AS ENDOWMENTS (BOARD-DESIGNATED ENDOWMENT FUNDS). THE ENDOWMENT IS AVAILABLE FOR SCHOLARSHIPS, ACADEMIC PROGRAMS, AND OTHER INSTITUTIONAL SUPPORT. FIN 48 DISCLOSURE SCHEDULE D, PART X MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. RECONCILIATION ITEMS SCHEDULE D, PART XII & PART XIII PART XII, LINE 2D INCOME & EXPENSES OF BUTLER FOUNDATION $850,598 PART XII, LINE 4B & PART XIII, LINE 4B SCHOLARSHIPS $46,403,990 true true true true true true true false false false false false false false false true false true PUBLICATION OF THE ORGANIZATION'S NONDISCRIMINATORY POLICY SCHEDULE E, LINE 3 PER THE STUDENT HANDBOOK, "BUTLER UNIVERSITY IS COMMITTED TO THE PRINCIPLE OF EQUAL OPPORTUNITY. IT DOES NOT KNOWINGLY DISCRIMINATE AGAINST ANY APPLICANT, STUDENT OR EMPLOYEE ON THE BASIS OF SEX, SEXUAL ORIENTATION, RACE, COLOR, AGE, RELIGION OR NATIONAL, ETHNIC OR GEOGRAPHICAL ORIGIN. IT ATTEMPTS TO MAKE ITS PROGRAMS EQUALLY ACCESSIBLE TO ALL QUALIFIED APPLICANTS REGARDLESS OF PHYSICAL OR MENTAL DISABILITY. THIS SCHOOL IS AUTHORIZED UNDER FEDERAL LAW TO ENROLL NON-IMMIGRANT ALIEN STUDENTS." FINANCIAL AID RECEIVED FROM A GOVERNMENTAL AGENCY SCHEDULE E, LINE 6A BUTLER UNIVERSITY RECEIVES CERTAIN AMOUNTS FROM GOVERNMENTAL AGENCIES FOR SUPPORT OF ITS RESEARCH AND EDUCATIONAL PROGRAM. true Central America and the Caribbean 0 1 Program Services EDUCATION 453 Europe (Including Iceland and Greenland) 0 9 Program Services EDUCATION 199734 North America 0 1 Program Services EDUCATION 14400 Russia and the Newly Independent States 0 2 Program Services EDUCATION 40357 South America 0 2 Program Services EDUCATION 28100 0 15 0 15 283044 283044 FINANCIAL AID FOR STUDENTS Cent. America/Caribbean 16 112848 FINANCIAL AID FOR STUDENTS East Asia/Pacific 36 160765 FINANCIAL AID FOR STUDENTS Europe/Iceland/Greenland 93 381642 FINANCIAL AID FOR STUDENTS Middle East/North Africa 1 3873 FINANCIAL AID FOR STUDENTS North America 2 4275 FINANCIAL AID FOR STUDENTS Russia 1 3550 FINANCIAL AID FOR STUDENTS South America 6 43242 true false true true true false PROCEDURES FOR MONITORING USE OF GRANT FUNDS OUTSIDE THE UNITED STATES SCHEDULE F, PART I, LINE 2 BUTLER UNIVERSITY HAS STUDENTS WHO STUDY ABROAD. THE FINANCIAL AID RECEIVED BY STUDENTS WHO STUDY ABROAD IS A REDUCTION OR WAIVER OF BUTLER UNIVERSITY TUITION WHILE THE STUDENT IS STUDYING ABROAD. BUTLER UNIVERSITY HAS WRITTEN QUALIFICATION CRITERIA FOR STUDENT FINANCIAL AID AND FOLLOWS A WRITTEN APPROVAL PROCESS. GOLFEST 67384 34349 33035 2669 12262 7012 1182 0 67384 34349 33035 2669 12262 7012 1182 23125 9910 true SCHOLARSHIPS FOR STUDENTS 3576 45693795 PROCEDURES FOR MONITORING USE OF GRANT FUNDS IN THE UNITED STATES SCHEDULE I, PART I, LINE 2 BUTLER UNIVERSITY HAS WRITTEN QUALIFICATION CRITERIA FOR STUDENT FINANCIAL AID AND FOLLOWS A WRITTEN APPROVAL PROCESS. X X X true true X X X X false false false false false false false true false BOBBY FONG 336170 0 0 0 2010 0 33071 0 21951 0 393202 0 BRUCE ARICK 177128 0 0 0 0 0 17713 0 19482 0 214323 0 MARK HELMUS 146852 0 0 0 942 0 14685 0 19409 0 181888 0 BRAD STEVENS 620828 0 170000 0 9147 0 24500 0 28922 0 853397 0 MARY ANDRITZ 213584 0 7500 0 1160 0 21358 0 15505 0 259107 0 LARRY O'CONNOR 217644 0 2500 0 0 0 21764 0 20854 0 262762 0 BARRY COLLIER 178938 0 40000 0 6817 0 17894 0 20598 0 264247 0 JAYNE COMSTOCK 193020 0 0 0 1845 0 19302 0 10151 0 224318 0 CHARLES WILLIAMS 213338 0 10000 0 2297 0 21334 0 20332 0 267301 0 OTHER BENEFITS SCHEDULE J, PART I, LINE 1A BUTLER UNIVERSITY PROVIDES A RESIDENCE AND HOUSEHOLD SERVICES FOR DR. BOBBY FONG, THE UNIVERSITY'S PRESIDENT. THE RESIDENCE AND HOUSEHOLD SERVICES ARE NOT INCLUDED IN DR. FONG'S TAXABLE INCOME. THE RESIDENCE IS FURNISHED FOR THE CONVENIENCE OF BUTLER UNIVERSITY, AND IT IS AVAILABLE FOR USE TO HOST FACULTY, STAFF, AND STUDENT FUNCTIONS. DR. FONG WAS REQUIRED TO LIVE IN THE RESIDENCE AS A CONDITION OF HIS EMPLOYMENT, AND HIS RESIDENCE IS CONTIGUOUS TO BUTLER'S CAMPUS. BUTLER UNIVERSITY PAYS SOCIAL CLUB DUES FOR DR. BOBBY FONG, BARRY COLLIER, AND BRAD STEVENS. THE PERSONAL USE OF THESE DUES IS INCLUDED IN EACH EMPLOYEE'S TAXABLE INCOME. NON-FIXED PAYMENTS SCHEDULE J, PART I, LINE 7 BUTLER UNIVERSITY PROVIDED NON-FIXED PAYMENTS TO BARRY COLLIER AND BRAD STEVENS AS BONUSES AS OUTLINED IN THEIR WRITTEN EMPLOYMENT CONTRACTS. INDIANA FINANCING AUTHORITY 521698917 S86442720 2004-09-15 56300000 FITNESS FACILITY & APT VILLAGE false false false 57875069 3706100 2863514 51305455 2006 false false true true false false true false true 0.00810 0.03330 0.04140 true true false false false true false JAYNE COMSTOCK HOME MORTGAGE LOAN X 475000 449920 false true true 449920 LOANS TO INTERESTED PERSONS SCHEDULE L, PART II THE LOAN LISTED WAS PROVIDED TO JAYNE COMSTOCK UNDER BUTLER UNIVERSITY'S FIRST MORTGAGE PROGRAM AND SECURED BY THE PROPERTY. THE FIRST MORTGAGE PROGRAM IS AVAILABLE TO EMPLOYEES WHO MEET THE ELIGIBILITY REQUIREMENTS SET BY THE BOARD OF TRUSTEES. X 30 321725 STOCK QUOTE X TRAVEL/FOOD 1 2800 COST X SIGNAGE 1 5364 COST false true true USE OF THIRD PARTIES TO SELL NONCASH CONTRIBUTIONS SCHEDULE M, PART I, LINE 32A BUTLER UNIVERSITY USES AN AUCTION HOUSE TO SELL NONCASH CONTRIBUTIONS AND WELLS FARGO TO SELL DONATIONS OF STOCK. PROCESS TO REVIEW FORM 990 FORM 990, PART VI, LINE 11A BUTLER UNIVERSITY'S BOARD OF DIRECTORS HAS FORMALLY DELEGATED AUTHORITY FOR THE REVIEW OF ITS FORM 990 TO THE BUTLER UNIVERSITY AUDIT COMMITTEE. IN ADDITION, BUTLER'S OUTSIDE ACCOUNTING FIRM REVIEWED THE FORM 990 PRIOR TO FILING. BUTLER UTILIZED THIS PROCESS TO ENSURE THAT ITS FORM 990 RECEIVED SUBSTANTIVE REVIEW BY DIRECTORS AND PROFESSIONALS WITH SPECIFIC KNOWLEDGE OF BUTLER'S ACTIVITIES AND EXTENSIVE FINANCIAL, ACCOUNTING AND TAX EXPERTISE. MONITORING & ENFORCEMENT OF COMPLIANCE WITH CONFLICT OF INTEREST POLICY FORM 990, PART VI, LINE 12C BUTLER UNIVERSITY HAS ADOPTED A CONFLICT OF INTEREST POLICY THAT REQUIRES DIRECTORS, OFFICERS AND KEY EMPLOYEES TO SUBMIT AN ANNUAL CONFLICT OF INTEREST DISCLOSURE. THE ANNUAL DISCLOSURE REQUIRES DIRECTORS, OFFICERS AND KEY EMPLOYEES TO DISCLOSE, IN WRITING, ANY KNOWN FINANCIAL INTEREST THAT THE INDIVIDUAL (TOGETHER WITH FAMILY MEMBERS) HAS IN ANY BUSINESS ENTITY THAT TRANSACTS BUSINESS WITH BUTLER UNIVERSITY. IN ADDITION, DIRECTORS, OFFICERS AND KEY EMPLOYEES ARE REQUIRED TO IMMEDIATELY DISCLOSE ANY POSSIBLE CONFLICT OF INTEREST THAT ARISES MID-YEAR IN RELATION TO A PROPOSED TRANSACTION. THE CONFLICT OF INTEREST POLICY REQUIRES THAT ANY INDIVIDUAL WITH A CONFLICT BE RECUSED FROM THE DECISIONMAKING PROCESS, THAT INDEPENDENT DIRECTORS OR COMMITTEE MEMBERS DETERMINE THAT THE PROPOSED TRANSACTION IS IN THE BEST INTERESTS OF BUTLER UNIVERSITY, AND THE TRANSACTION MUST BE APPROVED BY A VOTE OF THE INDEPENDENT DIRECTORS OR COMMITTEE MEMBERS WITHOUT THE PARTICIPATION OF ANY INTERESTED INDIVIDUAL. THE ANNUAL CONFLICT DISCLOSURE STATEMENTS ARE SUBMITTED TO, AND REVIEWED BY, THE AUDIT COMMITTEE, COMPOSED OF INDEPENDENT OUTSIDE DIRECTORS. IN ADDITION, THE EXECUTIVE STAFF IS RESPONSIBLE FOR MONITORING ANY POSSIBLE CONFLICT TRANSACTIONS THAT ARISE AND MANAGING THEM TO ENSURE THAT ALL TRANSACTIONS REPRESENT ARMS' LENGTH, FAIR MARKET VALUE TERMS FOR THE BENEFIT OF BUTLER UNIVERSITY. PROCESS TO DETERMINE PRESIDENT & OFFICER COMPENSATION FORM 990, PART VI, LINES 15A & 15B BUTLER UNIVERSITY HAS ADOPTED AN EXECUTIVE COMPENSATION AND INTERMEDIATE SANCTIONS POLICY THAT ENSURES THAT ALL COMPENSATION ARRANGEMENTS WITH RELATED PARTIES ARE EVALUATED AND ENTERED AT ARMS' LENGTH AND THAT ANY COMPENSATION THAT IS PAID TO A RELATED PARTY IS REASONABLE AND REFLECTS FAIR MARKET VALUE. THE POLICY ENCOURAGES THE APPLICATION OF THE REBUTTABLE PRESUMPTION STANDARD OF CODE SECTION 4958 AND THE RELATED TREASURY REGULATIONS BY (A) EXCLUDING ANY INTERESTED PARTY FROM THE DECISIONMAKING PROCESS; (B) REQUIRING DISINTERESTED BOARD OR COMMITTEE MEMBERS TO OBTAIN AND RELY UPON COMPARABILITY DATA WHEN SETTING THE PROPOSED COMPENSATION TERMS; (C) REQUIRING APPROVAL OF THE TRANSACTION IN ADVANCE BY DISINTERESTED DIRECTORS OR COMMITTEE MEMBERS; AND (D) REQUIRING CONTEMPORANEOUS DOCUMENTATION (I.E., MINUTES) REFLECTING THE DECISION AND THE PROCESS BY WHICH IT WAS MADE. BUTLER UNIVERSITY HAS DELEGATED AUTHORITY REGARDING EXECUTIVE COMPENSATION MATTERS TO THE EXECUTIVE COMPENSATION COMMITTEE, COMPOSED OF INDEPENDENT OUTSIDE DIRECTORS. THE COMMITTEE IS RESPONSIBLE FOR APPLYING THE TERMS AND PROCESS OF THE EXECUTIVE COMPENSATION AND INTERMEDIATE SANCTIONS POLICY AS OUTLINED ABOVE. AVAILABILITY OF GOVERNING DOCUMENTS, COI POLICY, FORM 990, AND FS FORM 990, PART VI, LINE 19 THE UNIVERSITY MAKES THE FORM 990, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST AT THE UNIVERSITY'S BUSINESS OFFICE AND LIBRARY. THE FORM 990 IS ALSO AVAILABLE AT WWW.GUIDESTAR.ORG. CHANGE IN NET ASSETS OR FUND BALANCES FORM 990, PART XI, LINE 5 UNREALIZED GAIN: $27,639,082 BUTLER FOUNDATION 4600 SUNSET AVENUE INDIANAPOLIS IN 46208 356016441 GIFT RECEIPT IN 501(C)(3) 11A BUTLER UNIV C C TRUST 505 CARR ROAD MAC Y5017-023 WILMINGTON DE 19809 TRUST DE NA TRUST 0 252674 0.70000 A S TRUST 101 W WASHINGTON STREET INDIANAPOLIS IN 46255 IRR TRUST IN NA IRR TRUST 0 1845897 1.00000 P T TRUST 770 NORTH WATER STREET MILWAUKEE WI 53202 TRUST WI NA TRUST 0 190624 1.00000 R D TRUST 222 DELAWARE AVENUE 14TH FLOOR WILMINGTON DE 19801 TRUST DE NA TRUST 0 1242671 1.00000 false false false false false false false false false false false false false false false false false false