2011-01-13T17:40:58-07:00 2010-05-31 990 2009-06-01 420707124 BRIAR CLIFF UNIVERSITY BRIA 7122795504 3303 Rebecca Street Sioux Ctiy IA 51104 Beth Grigsby 7122795504 2011-01-13 2009 2016-02-24 21:20:13Z Beverly Wharton 3303 Rebecca Street Sioux City IA 51104 32069328 0 X www.briarcliff.edu X 1930 IA Post-Secondary Education 25 24 687 50 0 0 3214588 3394945 23097780 23278670 -753978 400548 162921 128276 25721311 27202439 8549820 8903849 0 0 10369345 10195513 39104 12324 648495 7822840 8279597 26781109 27391283 -1059798 -188844 31335916 31797997 4731322 6955330 26604594 24842667 Briar Cliff University is a community committed to higher education within a liberal arts and Catholic perspective. In the Franciscan tradition of service, caring and openess to all, Briar Cliff emphasizes quality education for its students, combining a broad intellectual background with career development. The University challenges its members to grow in self-awareness and in their relationships to others and to God. 0 0 23465524 8903849 19601311 Higher Education: Four year liberal arts university providing over 29,800 credit hours of post-secondary education to 1,150 students. Masters and baccalaureate programs are offered in 36 fields of study. 0 0 0 23465524 1 1 0 1 0 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1552 0 1 687 1 0 0 0 0 1 1 1 1 0 0 0 0 1 25 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X Beth Grigsby 7122795504 3303 Rebecca Street Sioux City IA 51104 Eric Bertness 0.50 X 0 0 0 Sr Carol Besch 0.50 X 0 0 0 Tim Brown 0.50 X 0 0 0 Karen Chesterman 0.50 X 0 0 0 Margaret Dolan 0.50 X 0 0 0 Michael Ellwanger 0.50 X 0 0 0 Fr Michael Erpelding 0.50 X 0 0 0 Steven Freeman 0.50 X 0 0 0 Leonard Gill 0.50 X 0 0 0 Mark Gingery 0.50 X 0 0 0 Charles Harstad 0.50 X 0 0 0 Sister Cathy Katoski 0.50 X 0 0 0 Matthew Lawler 0.50 X 0 0 0 Carolyn Leman 0.50 X 0 0 0 Jameley Levich 0.50 X 0 0 0 Craig McGarry 0.50 X 0 0 0 Bishop R Walker Nickless 0.50 X 0 0 0 Beth Noel 0.50 X 0 0 0 Ginny Peterson 0.50 X 0 0 0 Sr Nancy Schreck 1.0 X 0 0 0 David Simmons 0.50 X 0 0 0 Diane Werth 0.50 X 0 0 0 Sister Mona Wingert 0.50 X 0 0 0 Chic Wolfe 0.50 X 0 0 0 Beverly Wharton 40 X X 179544 0 0 Beth Grigsby 40 X 98592 0 0 William Mangan 40.00 X 95320 0 0 Sharisue Wilcoxon 40.00 X 94931 0 0 Jeff LaFavor 40 X 86500 0 0 Steven Janowiak 40.00 X 0 0 0 554887 0 0 1 0 1 0 Aramark Services 3303 Rebecca Street Sioux City IA 51104 Food Service 1310968 Seabury Smith Inc PO Box 53326 Charlotte NC 28290 Insurance 934774 Aramark Corporation ATTN HIGHER EDUCATION 24818 Network Place Chicago IL 60673 Facilities Management 674455 Electric Innovations 1400 Jackson St Sioux City IA 51105 IT/Network Consulting 257854 Arthur J Gallagher Risk Management Service 39746 Treasury Center Chicago IL 60694 Insurance 161088 7 0 0 43605 0 1678523 1672817 0 3394945 Student Tuition and Fees 611310 23278670 23278670 0 0 0 0 0 0 23278670 345590 0 0 345590 0 0 0 0 0 0 0 0 14094 0 60332 0 -46238 0 -46238 0 0 -46238 4096034 0 4041076 0 54958 0 54958 0 0 54958 0 43605 0 0 0 0 0 0 0 0 0 0 0 819331 765481 53850 0 0 53850 Other Income 611310 120664 0 0 120664 0 0 0 0 120664 27202439 23278670 0 528824 0 0 8903849 8903849 0 0 0 0 554887 190251 278136 86500 0 0 0 0 7474149 6887793 367794 218562 265723 244876 13076 7771 1377750 1269664 67797 40289 523004 481974 25736 15294 2243277 1345966 897311 0 30025 0 30025 0 28500 0 28500 0 0 0 0 0 12324 12324 45804 0 45804 0 0 0 0 0 264180 237762 26418 0 909862 733361 152173 24328 280735 252661 28074 0 0 0 0 0 1054660 641652 413008 0 497514 405453 76831 15230 0 0 0 0 106851 104096 1195 1560 160730 96438 64292 0 0 0 0 0 864478 518687 345791 0 214273 128564 85709 0 Memberships and Dues 96798 28830 63913 4055 Equipment rental & maint. 108546 93692 12645 2209 Bad Debt Expense 97875 0 97875 0 Other purchased services 848440 705474 140201 2765 Other Expenses 427049 194481 14960 217608 27391283 23465524 3277264 648495 X 0 0 0 0 11800 11800 5703395 6773428 2545728 1935579 630151 891428 0 0 0 0 2410526 2385944 246017 161883 232746 131938 30058445 18594595 12271675 11463850 6612537 7521886 656663 494824 0 0 14678 25437 31335916 31797997 1549667 1586843 0 0 73333 69917 3070000 2795000 0 0 0 0 0 0 0 0 38322 2503570 4731322 6955330 X 12755314 13022314 5194854 5633944 8654426 6186409 26604594 24842667 31335916 31797997 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 1 0 0 1 2903 1 0 0 0 2903 0 SchC_P2B_S00_L01 Schedule C, Part II-B, Line 1 On a limited number of occasions, the president of the university my call legislators or their staff to discuss matters of interest to the university, or may visit them for a brief meeting as an incidental part of an unrelated business trip. Students are encouraged to write letters to legislators with concerns regarding financial aid and higher education. 7465033 110600 1118136 371258 39997 45804 8236710 9464741 343686 -1930916 371026 0 41452 7465033 0.35 0.65 0 0 0 220000 79675 299675 0 21434519 11563299 9871220 0 0 0 0 0 6700695 6075867 624828 0 1623556 955429 668127 11463850 CDs and Money Markets 494824 C 494824 Other Receivables 12610 Interest Receivable 12827 25437 Annuities Payable 37128 Government Loans Refundable 2466442 2503570 27202439 27391283 -188844 893360 0 0 0 0 893360 704516 19980024 893360 0 0 833878 1727238 18252786 45804 8903849 8949653 27202439 19273553 0 0 0 831923 831923 18441630 45804 8903849 8949653 27391283 SchD_P05_S00_L04 Schedule D, Part V, Line 4 Briar Cliff University uses its endowment funds to provide grants and scholarships, as well as funds for program related activities. SchD_P10_S00_L00 Schedule D, Part X The University files a Form 990 (Return of Organization Exempt from Income Tax) annually. When these returns are filed, it is highly certain that some positions taken would be sustained upon examination by taxing authorities, while others are subject to uncertainty about the merits of the tax position taken or the amount of the position that would ultimately be sustained. Examples of tax positions common to universities include such matters as the tax-exempt status of each entity and various positions relative to potential sources of unrelated business income (UBIT). UBIT is reported on Form 990-T, as appropriate. The benefit of tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes that it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions are not offset or aggregated with other positions. Tax positions that meet the "more likely than not" recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely to be realized on settlement with the applicable taxing authority. Upon the adoption of FASB ASC 740, Income Taxes as of May 31, 2010, there were no uncertain tax benefits identified and recorded as a liability. Forms 990 and 990-T filed by the University are subject to examination by the Internal Revenue Service (IRS) up to three years from the extended due date of each return. Forms 990 filed by the University for fiscal years ended May 31, 2005 and prior are no longer subject to examination. The University has not to date been required to file Form 990-T. SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Loan interest, McElroy Trust, not on Form 990 ($8,065). Rental expenses, netted against revenue on Form 990 not netted on financial statements (60,332). Cost of goods sold, netted against revenue on Form 990 not netted on financial statements ($765,481). SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Financial aid to students, netted against revenue on financial statements not netted on Form 990. SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d McElroy Trust, Bad Debt Expense ($6,110). Rental expense, netted against revenue on Form 990 no netted on financial statements ($60,332). Cost of goods sold, netted against revenue on Form 990 not netted on financial statements ($765,481). SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Financial aid to students, netted against revenue on financial statements not netted on Form 990. 1 1 1 Printed in all student handbooks, university catalogs, and on the university web site. Available to all university community members and prospective students. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 Briar Cliff University received student financial aid from both federal and state governmental agencies. Briar Cliff also received TRIO grant money from the federal government. 1 Lunch with the Chargers 12903 8497 4406 0 0 0 1615 0 589 BCU Lila Frommelt Golf Classic 19750 19750 0 0 2991 3600 1534 0 30 0 32653 28247 4406 0 2991 3600 3149 0 619 10359 -5953 1 Briar Cliff Scholarships 87 98211 Academic Excellence Scholarships 928 3535283 Continuing Education Scholarships 179 447330 Briar Cliff Departmental Scholarships 76 171684 Briar Cliff Grants 664 1823132 Leadership Awards 257 250662 Alumni Grant 73 66329 Athletic Scholarships 483 2281090 SEOG Awards 90 180000 Off Campus Employment 23 11128 Student Support Services Scholarships 20 39000 SchI_P01_S00_L02 Schedule I, Part I, Line 2 The Vice President for Finance collects grant award letters and instructions from the granting agencies or the BCU grant managers. The Vice President for Finance keeps a fiscal file for each grant, including the award letters, instructions, annual accounting records, and financial reports submitted to the grantors. Either the Vice President for Finance or the BCU grant manager submits reports to agencies, depending on the grant. The Vice President for Finance creates a budget for each grant in the grants fund, based on award letters and input from the BCU grant managers. If the grant allows, grant managers may request budget transfers within their grant, which the Vice President for Finance or the Assistant Vice President for Finance enter in Datatel. The grant manager signs off on expenditures for the grant. The Vice President for Finance reviews all grant expenditures monthly, with more in-depth reviews as needed for reporting to grantors. The Vice President for Finance reconciles grant expenditures annually, for both the BCU fiscal year and the grant fiscal year if different. Financial aid grants are approved and reported by the Financial Aid department. Checks for grant revenues are received in the Business Office; some agencies mail them to the grant managers, who then turn them into the Business Office for deposit. Some agencies pay BCU through direct deposit into BCU checking accounts. The Vice President for Finance draws down federal grant funds electronically through the online G5 payment system; drawdowns are usually done monthly. X 1 1 X X X 0 0 0 0 0 0 0 0 0 Beverly Wharton 171655 0 0 0 7889 0 0 0 3345 0 182889 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a Country Club dues. These are included on the President's W-2 as taxable income. F990_P06_S0B_L11 Form 990, Part VI, Section B, Line 11 The Assistant Vice President for Finance prepares the Form 990. The Vice President for Finance then reviews the 990. After the Vice President for Finance's review, the Form 990 is distributed to the Board of Trustees for their review and approval. Once approved by the Board, the Form 990 is electronically submitted to the IRS. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c Briar Cliff University has each member of the Board of Trustees complete and sign a conflict of interest statement on an annual basis. Additionally, Briar Cliff University personnel who contact vendors are made aware of board relationships and proceed accordingly. F990_P06_S0B_L14 Form 990, Part VI, Section B, Line 14 The written document retention and destruction policy was adopted by the University's Board of Trustees on October 29, 2010. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 Briar Cliff University has a compensation committee that reviews and discusses the salaries for the President and Vice Presidents. Comparisons are made to other Iowa Association of Independent Colleges and Universities institutions to see if BCU officers are compensated appropriately. Salary recommendations are also made based on these comparisons. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 Briar Cliff University makes it governing documents, conflict of interest policy, and financial statements available to the public upon request. Briar Cliff's 990 is also on the Guidestar web site.