2011-12-14T15:26:50-06:00 2011-06-30 BAKER TILLY VIRCHOW KRAUSE LLP 225 SOUTH SIXTH STREET STE 2300 MINNEAPOLIS MN 55431 990 2010-07-01 370661496 CARTHAGE COLLEGE CART 2625518500 2001 ALFORD PARK DR KENOSHA WI 53140 WILLIAM ABT 2625518500 2011-12-12 1 LAWRENCE H MOHR CPA 6128764500 2010 2016-02-24 21:20:13Z WILLIAM ABT 2001 ALFORD PARK DR KENOSHA WI 53140 114097458 0 X WWW.CARTHAGE.EDU X 1847 WI CARTHAGE IS A SCHOOL OF LIBERAL ARTS AND SCIENCES PROVIDING STUDENTS WITH A COLLEGE EDUCATION. CARTHAGE IS AFFILIATED WITH THE EVANGELICAL LUTHERAN CHURCH OF AMERICA. 27 27 1967 0 890924 0 3182654 10830246 89011802 95382760 1407435 2051767 945965 477108 94547856 108741881 27586815 30241257 0 0 31433265 31170498 0 0 1848896 24530226 27284805 83550306 88696560 10997550 20045321 178464008 200822835 54399551 48460170 124064457 152362665 X SEEKING TRUTH, BUILDING STRENGTH, INSPIRING SERVICE - TOGETHER 0 0 20228339 79911794 INSTRUCTION: CARTHAGE COLLEGE AWARDS THE BACHELOR OF ARTS DEGREES WITH MAJORS IN MORE THAN 40 SUBJECT AREAS AND THE MASTER OF EDUCATION DEGREE. CARTHAGE ALSO HOSTS THE JOINT EXECUTIVE MBA AND MASTER OF SOCIAL WORK DEGREES AWARDED BY LOYOLA UNIVERSITY. THE 2010-2011 ACADEMIC YEAR ENROLLMENT WAS 2,779 FULL TIME EQUIVALENT (FTE) STUDENTS IN THE FALL SEMESTER AND 2,672 FTE STUDENTS ENROLLED IN THE SPRING SEMESTER. OF THE TOTAL NUMBER OF STUDENTS ENROLLED IN 2010-2011 ACADEMIC YEAR, 657 MET THE REQUIREMENTS OF GRADUATION. 34744129 30241257 599472 STUDENT SERVICES: CARTHAGE BOASTS A LONG-STANDING COMMITMENT TO EDUCATING THE WHOLE PERSON BY NOURISHING THE INTELLECTUAL, SPIRITUAL, EMOTIONAL, SOCIAL AND PHYSICAL DIMENSIONS OF STUDENTS' LIVES. THE COLLEGE OFFERS A CURRICULUM THAT CHALLENGES STUDENTS TO THINK CRITICALLY AND EXPRESS THEMSELVES EFFECTIVELY, A CAMPUS LIFE THAT ENCOURAGES INVOLVEMENT AND SERVICE (OVER 90 STUDENT ORGANIZATIONS), A COMMUNITY OF FAITH THAT NURTURES SPIRITUAL GROWTH AND DEVELOP MORAL RESPONSIBILITY, AND CO-CURRICULAR ACTIVITIES THAT INSPIRE STUDENTS TO TEST THEIR OWN LIMITS AND EXPRESS THEIR INDIVIDUALITY. THE AWARD WINNING STATE-OF-THE-ART HEDBERG LIBRARY UNITES BOOKS, PERIODICALS, ACADEMIC COMPUTING, NETWORK DATA PORTS AND MULTIMEDIA RESOURCES. 7153245 13980570 AUXILIARY ENTERPRISES AT CARTHAGE COLLEGE ARE COMPRISED OF 10 RESIDENCE HALLS ON CAMPUS, 7 DINING VENUES, AND A BOOKSTORE FOR STUDENTS, FACULTY AND STAFF. OF THE TOTAL STUDENT BODY, 68% OF ENROLLED STUDENTS LIVED ON-CAMPUS AND PARTICIPATED IN THE RESIDENT STUDENT BOARD PLAN. 1,641 STUDENTS RESIDE IN CAMPUS HOUSING IN THE 2010-2011 FALL SEMESTER AND 1,559 IN THE SPRING SEMESTER. 12920427 PUBLIC SERVICE EVENTS CONSIST OF MUSIC AND/OR COMEDY CONCERTS, BUSINESS COALITION LUNCHES AND FAMILY FUN NIGHTS WHICH PROVIDE ENTERTAINMENT/ACTIVITIES THAT ARE OPEN TO THE GENERAL PUBLIC. DIFFERENT EVENTS ARE HELD THROUGHOUT THE ENTIRE ACADEMIC YEAR. 12920427 75046140 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 140 0 1967 1 1 1 0 0 0 0 1 1 0 0 0 0 0 X 27 27 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 WI X X DAVID MISSURELLI 2625516200 2001 ALFORD PARK DRIVE KENOSHA WI 53140 ROSS ANDERSON 1.00 X 0 0 0 MARK BARMAK 1.00 X 0 0 0 REV JEFF BARROW 1.00 X 0 0 0 MARY BISHOP 1.00 X 0 0 0 STEVEN CHAPMAN 1.00 X 0 0 0 RICHARD CHRISTMAN 1.00 X 0 0 0 ROBERT CORNOG 1.00 X 0 0 0 W CRAIG DEATON 1.00 X 0 0 0 JOHN GORTON 1.00 X 0 0 0 JEFF HAMAR 1.00 X 0 0 0 HOYT HARPER 1.00 X 0 0 0 MARILYN HEDBERG 1.00 X 0 0 0 WILLIAM KELLEY 1.00 X 0 0 0 THOMAS KIESO 1.00 X 0 0 0 JAMES KLAUSER 1.00 X 0 0 0 THOMAS LENTZ 1.00 X 0 0 0 WILLIAM MADDEN 1.00 X 0 0 0 DEAN MATTHEWS 1.00 X 0 0 0 REV WAYNE MILLER 1.00 X 0 0 0 GORDON POSTLEWAITE 1.00 X 0 0 0 LOREN SEMLER 1.00 X 0 0 0 JOHN SLADEK 1.00 X 0 0 0 EDWARD SMEDS 1.00 X 0 0 0 DAVID STRAZ 1.00 X 0 0 0 DEBRA WALLER 1.00 X 0 0 0 JUNE WALLER 1.00 X 0 0 0 GARY WILSON 1.00 X 0 0 0 F GREGORY CAMPBELL 40.00 X 301112 0 148940 WILLIAM ABT 40.00 X 182718 0 41878 BRADLEY ANDREWS 40.00 X 140237 0 27536 JULIO RIVERA 40.00 X 104044 0 12725 TODD KELLEY 40.00 X 146686 0 10044 ROBERT ROSEN 40.00 X 139257 0 21130 ROBERT BONN 40.00 X 121407 0 25686 PAUL HEGLAND 40.00 X 92383 0 22147 LOUISE PASKEY 40.00 X 66875 0 13050 ABIGAIL HANNA 40.00 X 59925 0 10418 HARVARD STEPHENS 40.00 X 94186 0 18924 MICHAEL WEST 40.00 X 82093 0 20533 JOHN ANTARAMIAN 40.00 X 53689 0 19100 KURT PIEPENBURG 40.00 X 129209 0 16370 PAUL ZAVADA 40.00 X 127613 0 8331 WILLIAM HOARE 40.00 X 112250 0 25207 ARTHUR CYR 40.00 X 113224 0 17625 KEVIN CROSBY 40.00 X 103186 0 25273 GLENN MILLER 40.00 X 159307 0 28206 JUDITH SCHAUMBERG 40.00 X 144288 0 25908 2473689 0 539031 29 1 1 0 JH FINDORFF & SON INC PO BOX 575 MADISON WI 53701 CONSTRUCTION 10780852 SODEXO INC 4880 PAYSPHERE CIR CHICAGO IL 60674 FOODSERVICE 3940903 FINDORFF INC PO BOX 575 MADISON WI 53701 CONSTRUCTION 3543852 GLAHI TRUST 200 S WACKER DR CHICAGO IL 60606 INSURANCE 2859731 WE ENERGIES 231 W MICHIGAN ST MILWAUKEE NJ 53290 UTILITIY - HEAT & ELECTRICITY 1282282 32 46024 527748 10256474 280599 10830246 TUITION AND FEES 611710 79911794 79911794 AUX. ENTERPRISE 611710 14871494 13980570 890924 ATHLETIC DEPT. INCOME 611710 424752 424752 OTHER STUDENT SERVICES 611710 174720 174720 95382760 1288951 1288951 6061080 5298264 762816 762816 762816 36004 46024 57313 -21309 -21309 ACTUARIAL ADJ. INCOME 525990 498417 498417 498417 108741881 94491836 890924 2528875 30241257 30241257 2334431 1787545 470836 76050 22819128 17473297 4602435 743396 2311000 1769603 466110 75287 1956488 1498142 394608 63738 1749451 1339608 352850 56993 46332 35478 9345 1509 107001 81934 21581 3486 5971652 4572675 1204434 194543 677251 518592 136596 22063 4704306 3602229 948821 153256 453838 347518 91535 14785 3767273 2884715 759829 122729 1405895 1076536 283558 45801 159763 122335 32223 5205 962652 737132 194159 31361 4270454 3270016 861316 139122 966277 739908 194890 31479 GENERAL INSTITUTIONAL 3792111 2947620 776398 68093 88696560 75046140 11801524 1848896 19938717 15055231 833359 1167688 3373955 2847552 2555451 2352792 437407 495272 160446990 52920476 102851010 107526514 43760992 55825434 571934 4141183 15552352 178464008 200822835 5554981 7554326 2669721 2690030 7617994 7887964 36037261 27871084 2519594 2456766 54399551 48460170 X 87052598 100614846 10087032 23083128 26924827 28664691 124064457 152362665 178464008 200822835 X 20045321 8252887 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 230349 X X X X 0 39118944 1442518 10251593 -898662 51711717 33561053 489912 4982579 -85400 39118944 43333302 446816 -9109456 -1110854 1245 33561053 0.23000 0.77000 0 0 487000 487000 108670258 23404570 85265688 9978114 3099957 6878157 39391550 25861433 13530117 1920068 554516 1365552 107526514 DEPOSITS 612158 FUNDS HELD BY OTHERS 86211 CONSTRUCTION IN PROGRESS 14853983 15552352 ANNUITIES PAYABLE 1634568 DEPOSITS HELD IN CUSTODY FOR OTHERS 295927 ASSET RETIREMENT OBLIGATION 526271 2456766 108741881 88696560 20045321 8252887 8252887 28298208 86822824 8252887 12000 57313 8322200 78500624 30241257 30241257 108741881 58524616 12000 57313 69313 58455303 30241257 30241257 88696560 PART III, LINE 4: THE COLLECTION RELATES TO ITEMS FROM THE CIVIL WAR AND IS USED PRIMARILY FOR EDUCATIONAL PURPOSES. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ENDOWMENT FUNDS ARE USED TO FUND SCHOLARSHIPS, EDUCATIONAL PROJECTS, AND OTHER VARIOUS PURPOSES. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE COLLEGE FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE COLLEGE FOR UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2011. THE COLLEGE'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE TAX RETURNS FOR THE CURRENT YEAR AS WELL AS FISCAL YEARS 2008 THROUGH 2010 ARE OPEN TO EXAMINATION BY FEDERAL TAX AUTHORITIES. THE TAX RETURNS FOR THE CURRENT YEAR AS WELL AS FISCAL YEARS 2007 THROUGH 2010 ARE OPEN TO EXAMINATION BY STATE OF WISCONSIN TAX AUTHORITIES. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 57,313. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS TO STUDENTS 30,241,257. PART XIII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 57,313. PART XIII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS TO STUDENTS 30,241,257. 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 THE COLLEGE PUBLISHES ITS NONDISCRIMINATORY POLICY IN THE KENOSHA DAILY NEWS AND RACINE JOURNAL TIMES AT VARIOUS POINTS THROUGHOUT THE YEAR. THE COLLEGE FOLLOWS A NONDISCRIMINATORY POLICY REGRADING ALL PROGRAMS. ENROLLMENT OF STUDENTS IS WITHOUT DISCRIMINATION AS TO RACE, RELIGION, SEX, COLOR, OR NATIONAL ORIGIN AND IS PUBLISHED IN THE COLLEGE'S CATALOG AND RECRUITING INFORMATION. RECRUITMENT PROCEDURES ARE DESIGNED AND CARRIED OUT TO REACH ALL RACIAL SEGMENTS IN THE GEOGRAPHIC AREA SERVED. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FINANCIAL ASSISTANCE FROM THE U.S. GOVERNMENT IN CONNECTION WITH VARIOUS PROGRAMS SUCH AS THE PERKINS STUDENT LOAN PROGRAM, FEDERAL WORK STUDY PROGRAM, PELL GRANT PROGRAM, AND SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT PROGRAM. STUDENTS ATTENDING CARTHAGE COLLEGE ALSO RECEIVE FINANCIAL ASSISTANCE FROM THE STATE OF WISCONSIN. RED MEN/LADY REDS GOLF 82028 46024 36004 5000 19847 32466 82028 46024 36004 5000 19847 32466 57313 -21309 1 SCHOLARSHIPS AND GRANTS PROVIDED AS FINANCIAL AID TO STUDENTS - SEE COLLEGE FOR DETAILED LIST 1834 30241257 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: CARTHAGE COLLEGE OFFERS SCHOLARSHIPS AND GRANTS TO QUALIFIED STUDENTS TO HELP REDUCE THEIR OUT-OF-POCKET TUITION COSTS. STUDENTS RECEIVING FINANCIAL ASSISTANCE OF THIS FORM MUST MEET SPECIFIC CRITERIA SUCH AS ACADEMIC ACHIEVEMENT, FINANCIAL NEED AND OTHER SIMILAR STANDARDS WHETHER PUT IN PLACE BY THE COLLEGE OR BY DONORS OF RESTRICTED FUNDS. X X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 F GREGORY CAMPBELL 261684 0 0 0 39428 0 105615 0 43325 0 450052 0 0 0 WILLIAM ABT 142800 0 0 0 39918 0 40678 0 1200 0 224596 0 0 0 BRADLEY ANDREWS 140074 0 0 0 163 0 18860 0 8676 0 167773 0 0 0 TODD KELLEY 124000 0 0 0 22686 0 10044 0 0 0 156730 0 0 0 ROBERT ROSEN 138904 0 0 0 353 0 18034 0 3096 0 160387 0 0 0 GLENN MILLER 158926 0 0 0 381 0 19082 0 9124 0 187513 0 0 0 JUDITH SCHAUMBERG 132819 0 0 0 11469 0 18732 0 7176 0 170196 0 0 0 X 19 274505 FAIR MARKET VALUE X SHEET MUSIC 2 4500 FAIR MARKET VALUE X SPORTING EVENT TICKETS 2 1294 FAIR MARKET VALUE X MUSICAL INSTRUMENTS 1 250 FAIR MARKET VALUE X CLOTHING 1 50 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE IS COMPOSED OF 8 MEMBERS OF THE BOARD OF TRUSTEES, THE COLLEGE PRESIDENT, TREASURER AND ATTORNEY. FORM 990, PART VI, SECTION B, LINE 11 THE AUDIT COMMITTEE HAS BEEN GIVEN THE AUTHORITY TO REVIEW AND APPROVE THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C ALL PAYMENTS ARE REVIEWED BY THE BUSINESS OFFICE TO INSURE THERE ARE NO CONFLICTS. ALL EMPLOYEES AND BOARD OF TRUSTEES ARE COVERED BY THE POLICY. DETERMINATIONS AS TO WHETHER CONFLICTS EXIST ARE MADE BY THE CONTROLLER AND VICE PRESIDENT FOR ADMINISTRATION AND BUSINESS. NO CONFLICTS HAVE ARISEN TO DATE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION IS REVIEWED AND APPROVED BY THE CARTHAGE COLLEGE EXECUTIVE COMMITTEE. THE COMMITTEE IS COMPRISED OF MEMBERS OF THE BOARD OF TRUSTEES, THE COLLEGE ATTORNEY AND THE COLLEGE PRESIDENT AND TREASURER. THIS REVIEW IS PERFORMED ANNUALLY BY THE COMMITTEE AND DONE FOR ALL OFFICERS OF THE COLLEGE. FORM 990, PART VI, SECTION C, LINE 19 THE CARTHAGE COLLEGE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE INTERNAL DOCUMENTS AND ARE NOT MADE AVAILABLE TO THE PUBLIC. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 8,252,887. FORM 990, PART XI, LINE 2C: NEITHER THE OVERSIGHT PROCESS OF THE AUDIT OR THE SELECTION PROCESS OF THE INDEPENDENT ACCOUNTANT CHANGED DURING THE CURRENT YEAR.