2011-12-20T09:20:32-06:00 2011-06-30 EIDE BAILLY LLP PO BOX 1914 BISMARCK ND 58502 990 2010-07-01 450273403 UNIVERSITY OF MARY UNIV 7012557500 7500 UNIVERSITY DR BISMARCK ND 585049652 BRENT WINIGER 7012557500 2011-12-12 1 LISA CHAFFEE CPA 7012551091 2011-12-12 2010 2016-02-24 21:20:13Z BRENT WINIGER 7500 UNIVERSITY DR BISMARCK ND 585049652 54635888 0 X WWW.UMARY.EDU X 1959 ND UNIVERSITY OF MARY IS A PRIVATE INSTITUTION OF HIGHER EDUCATION OFFERING GRADUATE AND UNDERGRADUATE DEGRESS. 29 25 1123 49 0 0 2012174 3436319 37069983 41856325 1245070 1187654 226683 412026 40553910 46892324 7610889 8486897 0 0 17329577 17972043 0 0 632465 10188859 12494570 35129325 38953510 5424585 7938814 88023618 99111323 8618375 8192930 79405243 90918393 X SERVING THE NEEDS OF THE REGION...THE UNIVERSITY OF MARY EXISTS TO SERVE THE RELIGIOUS, ACADEMIC, AND CULTURAL NEEDS OF PEOPLE IN THIS REGION. IT TAKES ITS TONE FROM THE COMMITMENT OF THE SISTERS OF ANNUNCIATION MONASTERY. THESE SISTERS FOUNDED THE UNIVERSITY AND CONTINUE TO SPONSOR IT TODAY. 0 0 15072763 38586852 ACADEMIC DIVISIONS - THIS AREA CONTAINS THE CURRICULUM AND RELATED EXPENSES FOR ALL DIVISIONS OF THE COLLEGE, INCLUDING BOTH POST-SECONDARY EDUCATION AND GRADUATE PROGRAMS. UNIVERSITY OF MARY SERVES APPROXIMATELY 3,000 STUDENTS AND HAS 175 FACULTY MEMBERS. THEY HAVE FOUR SCHOOLS WITH MORE THAN 40 DEGREE PROGRAMS. IN ADDITION, THERE ARE NINE GRADUATE DEGREE PROGRAMS. THEY AVERAGE A PLACEMENT RATE OF APPROXIMATELY 98 PERCENT OVERALL FOR THEIR GRADUATES. 8408747 8408747 STUDENT AID & EXPENSES - UNIVERSITY OF MARY OFFERS VARIOUS TYPES OF FINANCIAL ASSISTANCE TO STUDENTS INCLUDING FEDERAL, STATE, AND PRIVATE PROGRAMS AS WELL AS OTHER FORMS OF STUDENT AID AND WORK PROGRAMS. DURING THE CURRENT YEAR, 3,251 STUDENTS RECEIVED SOME TYPE OF ACADEMIC STUDENT AID AND 214 STUDENTS RECEIVED ATHLETIC STUDENT AID. IN ADDITION, NINE INTERNATIONAL STUDENTS RECEIVED STUDENT AID AS WELL. 3869012 1858803 AUXILIARY ACTIVITIES - AUXILIARY ACTIVITIES INCLUDES ALL STUDENT HOUSING AND FOOD SERVICES INCLUDING THE COST OF RESIDENCE HALLS, STUDENT APARTMENTS, STUDENT TRANSPORTATION SERVICE AND DEPRECIATION. THE UNIVERSITY OF MARY ALSO HAS A UNIVERSITY STORE, CAFETERIA, SNACK BAR AND COFFEE SHOP. 8743072 1822696 EDUCATIONAL PLANT OPERATIONS, FINANCIAL AFFAIRS, GENERAL INSTITUTIONAL, PUBLIC AFFAIRS, ENROLLMENT SERVICES, AND ALL OTHER SERVICES INCLUDING GENERAL ADMINISTRATION, ACADEMIC AFFAIRS, STUDENT DEVELOPMENT, AND STUDENT SENATE. 8743072 1822696 36093594 1 1 0 0 0 0 1 1 1 1 0 0 0 1 1 1 0 1 1 1 0 0 0 0 0 0 1 1 1 0 0 0 0 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 138 0 1 1123 1 0 0 0 0 0 0 0 0 0 0 X 29 25 1 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 0 0 X BRENT WINIGER 7013558303 7500 UNIVERSITY DR BISMARCK ND 58504 MARTIN WHITE 1.00 X X 0 0 0 DR RAY GRUBY 1.00 X X 0 0 0 SISTER PATRICIA SCHAP 1.00 X X 0 0 0 BRENT WINIGER 40.00 X X 92590 0 24830 A KIRK LANTERMAN 1.00 X 0 0 0 ABBOT BRIAN WANGLER 1.00 X 0 0 0 BILL CLAIRMONT 1.00 X 0 0 0 CHERYL KULAS 1.00 X 0 0 0 CRAIG LARSON 1.00 X 0 0 0 DAN BUTLER 1.00 X 0 0 0 DICK TSCHIDER 1.00 X 0 0 0 DR HAROLD J MILLER 40.00 X 153536 0 30698 DUANE LIFFRIG 1.00 X 0 0 0 FATHER AL BITZ 1.00 X 0 0 0 GEORGE EHLIS 1.00 X 0 0 0 JOE HAUER 1.00 X 0 0 0 JOHN SIMMONS 1.00 X 0 0 0 KEVIN CRAMER 2.00 X 4425 0 0 LEON COMEAU 1.00 X 0 0 0 MIKE HOFER 1.00 X 0 0 0 NILES HUSHKA 1.00 X 0 0 0 SISTER AGATHA MUGGLI 1.00 X 0 0 0 SISTER REBECCA MAYER 1.00 X 0 0 0 SISTER SUSAN LARDY 1.00 X 0 0 0 TERRY ZELTINGER 1.00 X 0 0 0 WALLY JOERSZ 1.00 X 0 0 0 SISTER NANCY MILLER 40.00 X 0 0 0 FATHER JAMES P SHEA 40.00 X 103642 0 5680 NEAL KALBERER 40.00 X 106440 0 10177 460633 0 71385 3 0 1 0 CHARTWELLS DINING SERVICE 91337 COLLECTIONS DR CHICAGO IL 606931337 FOOD SERVICE VENDOR 1933491 HONEYWELL INTERNATIONAL INC 12490 COLLECTIONS CENTER DR CHICAGO IL 60693 BUILDING SOLUTIONS 1291954 DYNAMIC CAMPUS SOLUTIONS 2806 FLINTROCK TRACE SUITE A205 AUSTIN TX 78738 IT SERVICES 966083 CAPITAL ELECTRIC COOP PO BOX 730 BISMARCK ND 585020730 ELECTRICAL SERVICES 641569 ANNUNCIATION MONASTERY 7520 UNIVERSITY DR BISMARCK ND 585049653 MONASTERY SERVICES 421818 37 3436319 12271 3436319 STUDENT TUITION/FEES 611600 38586852 38586852 AUXILIARY ENTERPRISES 611600 1858803 1858803 OTHER 611600 1410670 1410670 41856325 1138685 1138685 7304 6325253 1599 6281989 5705 43264 48969 48969 1872002 1459976 412026 412026 46892324 42268351 0 1187654 78150 78150 8408747 8408747 423975 4030 210727 209218 13794882 13375074 146847 272961 741086 707386 19264 14436 1978467 1395254 553325 29888 1033633 971242 42316 20075 194078 29525 164553 50790 50790 1588684 1499614 89070 611391 559732 22199 29460 1412166 1072111 283628 56427 436446 436446 1642870 1639222 3648 697095 695595 1500 494463 475867 18596 42659 31009 11650 1600777 1289236 311541 29613 29613 REPAIRS & MAINTENANCE 1401974 1392439 9535 ACTIVITIES EXPENSE 1285432 1119201 166231 FOREIGN CAMPUS EXPENSES 540836 540836 DUES & MEMBERSHIPS 91100 47792 43308 BAD DEBT EXPENSE 88502 39612 48890 285694 255861 29833 38953510 36093594 2227451 632465 288642 502210 4897725 8867493 2011700 3759544 560129 644631 244336 67513 425389 391291 298179 224546 65684519 25113107 39697292 40571412 34926421 39296602 3384214 3429925 1289591 1356156 88023618 99111323 857166 1612313 617287 515369 805614 308734 328324 6029574 5736924 8618375 8192930 X 53789578 60546136 7016134 11170285 18599531 19201972 79405243 90918393 88023618 99111323 X 7938814 3574336 X 0 1 0 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 32977 X X 0 0 1 27138953 626898 3588584 813186 30541249 23476210 1288956 3116585 742798 27138953 28687691 524605 -4098351 660483 1025772 23427690 0.31890 0.62870 0.05240 0 0 431493 431493 47892850 14996554 32896296 8748627 6182525 2566102 2314995 6296554 3934028 4677521 40571412 ANNUITIES PAYABLE 1935572 GOVERNMENT GRANTS REFUNDABLE 2130294 UNITRUST PAYMENTS DUE GRANTORS 1671058 5736924 46892324 38953510 7938814 3687818 18154 -131636 3574336 11513150 51926636 3687818 18154 -131636 3574336 48352300 -1459976 -1459976 46892324 40413486 1459976 1459976 38953510 0 38953510 PART III, LINE 4: ALL GIFTS ARE SUBJECT TO PRIOR REVIEW AND APPROVAL BY THE BOARD. GIFTS RECEIVED HELP TO FURTHER HIGHER EDUCATION BY SERVING ACADEMIC, RELIGIOUS, AND CULTURAL NEEDS OF THE STUDENTS. PART IV, LINE 2B: UNIVERSITY OF MARY CHARTERED CLUBS, STUDENT ACADEMIC ASSOCIATIONS, AND APPROVED FACULTY AND STAFF ASSOCIATIONS HAVE ESTABLISHED UNIVERSITY AGENCY ACCOUNTS. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: PERMANENTLY RESTRICTED AND BOARD RESTRICTED ENDOWMENTS - INCOME FROM THESE FUNDS IS USED TO HELP FURTHER THE EXEMPT PURPOSE OF THE UNIVERSITY. LOAN FUND ENDOWMENTS - USED TO LOAN STUDENTS MONEY ON A SHORT TERM BASIS UNTIL FINANCIAL AID COMES THROUGH. TYPICALLY, THE LOANS ARE ONLY OUTSTANDING FOR A WEEK OR SO. FAMILY FUND ENDOWMENTS - TO BENEFIT VARIOUS NON-PROFIT ORGANIZATIONS SPECIFIED BY THE DONOR INCLUDING THE UNIVERSITY. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE UNIVERSITY IS A NONPROFIT ORGANIZATION THAT IS EXEMPT FROM FEDERAL INCOME TAX UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). THE UNIVERSITY HAS ADOPTED PROVISIONS OF FASB ACCOUNTING STANDARDS CODIFICATION TOPIC ASC 740-10 (PREVIOUSLY FINANCIAL INTERPRETATION NO. 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES), ON JULY 1, 2009. THE IMPLEMENTATION OF THIS STANDARD HAD NO IMPACT ON THE FINANCIAL STATEMENTS. AS OF BOTH THE DATE OF ADOPTION, AND AS OF JUNE 30, 2011, THE UNRECOGNIZED TAX BENEFIT ACCRUAL WAS ZERO. THE UNIVERSITY WILL RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED. THE UNIVERSITY IS NO LONGER SUBJECT TO FEDERAL TAX EXAMINATIONS BY TAX AUTHORITIES FOR THE YEARS BEFORE 2007 AND STATE EXAMINATIONS FOR YEARS BEFORE 2007. PART XI, LINE 8 - OTHER ADJUSTMENTS: ACTUARIAL GAINS - UNITRUST 84,933. ACTUARIAL LOSSES - ANNUITIES -216,569. PART XII, LINE 2D - OTHER ADJUSTMENTS: ACTUARIAL GAINS - UNITRUST 84,933. ACTUARIAL LOSSES - ANNUITIES -216,569. PART XII, LINE 4B - OTHER ADJUSTMENTS: COST OF SALES EXPENSE RECORDED IN REVENUES FOR TAX RETURN -1,459,976. PART XIII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES EXPENSE RECORDED IN REVENUES FOR TAX RETURN 1,459,976. 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 0 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE UNIVERSITY DOES NOT ROUTINELY PUBLICIZE ITS POLICY THROUGH NEWSPAPER OR BROADCAST MEDIA EXCEPT THROUGH JOB OPENING ADVERTISEMENTS. THE UNIVERSITY DOES MAKE THE POLICY ACCESIBLE TO THE PUBLIC THROUGH ITS WEBSITE. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES TITLE IV FUNDS AND TRIO FUNDS AND ADMINISTERS THE USE OF THOSE FUNDS. EXPLANATION OF RACIAL NONDISCRIMINATION COMPLIANCE SCHEDULE E, PART I, LINE 7 4.03 - THE UNIVERSITY DOES NOT PUBLICIZE ITS POLICY THROUGH NEWSPAPER OR BROADCAST MEDIA. EUROPE 1 5 FOREIGN UNIVERSITY CAMPUS UNIVERSITY STUDIES 306236 5 0 5 306236 0 306236 0 0 0 0 0 0 METHOD USED TO ACCCOUNT FOR EXPENDITURES: SCHEDULE F, PART I, LINE 3: ACCRUAL BASIS ACCOUNTING 1 DIOCESE OF BISMARCK 520 N WSHINGTON ST BISMARCK ND 58503 450214929 501(C)(3) 19295 FUNDING ASSISTANCE FOR CENENNIAL CELEBRATION BISHOP RYAN HIGH SCHOOL 316 11TH AVE NW MINOT ND 58703 450259466 501(C)(3) 9009 GENERAL OPERATING MINOT STATE UNIVERSITY 500 UNIVERSITY AVE NW MINOT ND 58703 456002481 GOVERNMENT 41476 GENERAL OPERATING ELLENDALE PUBLIC SCHOOL PO BOX 400 ELLENDALE ND 58436 456000451 GOVERNMENT 5315 DOLLARS FOR SCHOLARS PROGRAM OF DICKEY COUNTY 4 0 VOLLEYBALL 15 142400 WOMEN'S SOFTBALL 14 101750 FOOTBALL 65 382422 WRESTLING 10 44500 MEN'S BASKETBALL 13 167661 WOMEN'S BASKETBALL 14 177785 MEN'S TRACK 18 100485 WOMEN'S TRACK 24 192287 BASEBALL 15 76710 MEN'S SOCCER 11 93000 WOMEN'S SOCCER 10 149610 MUSIC 52 99626 FAMILY DISCOUNT 71 20100 NATIONAL GUARD WAIVER 68 62009 MILITARY SCHOLARHIPS 102 280747 PRESIDENTIAL 1157 3588810 PACESETTER GRANT 325 456280 ELA 485 270924 PHI THETA KAPPA 33 152500 FREEDOM PLAN 161 721799 INTERNATIONAL 9 37206 CIC - T&P 1 12800 FORENSICS 3 5000 CATHOLIC EDUCATORS 10 23495 FIFTH YEAR 14 117605 DONATED SCHOLARHIPS 25 51500 VETERAN'S YELLOW RIBBON 7 9141 CHEER 12 3500 CADE DISCOUNT 182 344174 SSS BOOK GRANT 123 7390 WOMEN'S TENNIS 5 6500 CATHOLIC SCHOLARS 23 107542 HONORS DAY 24 176092 DANCE 10 3500 SSS MERIT SCHOLARHIP 130 36802 STUDENT TEACHER TRAINING 19 17100 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE UNIVERSITY IS CONTRIBUTING FUNDS TO CHARITABLE ORGANIZATIONS IN ACCORDANCE WITH ENDOWMENT AGREEMENTS THAT GOVERN THE DISTRIBUTION OF THE UNDERLYING FUNDS. THE UNIVERSITY ALSO VERIFIES THAT THE GRANTS GIVEN TO THE CHARITABLE ORGANIZATIONS ARE FOR THE BENEFIT OF INDIVIDUAL STUDENTS FOR SCHOLARHIPS. OTHER INFORMATION: PART IV: STUDENT AWARDS, GRANTS AND LOANS ARE AWARDED ON BASIS OF NEED. SCHOLARSHIPS ARE AWARDED BASED UPON NEED AND ACADEMIC OR SPECIAL ACHIEVEMENTS. X X 0 0 X X 0 0 0 0 0 0 0 0 0 DR HAROLD J MILLER 152972 0 0 0 564 0 12840 0 18266 0 184642 0 0 0 PART I, LINE 1B THE PRESIDENT IS REQUIRED TO LIVE IN THE "PRESIDENTIAL RESIDENCE" ON CAMPUS. THE PRESIDENT AND CHAIRMAN EMERITUS (WHO IS ALSO THE FORMER PRESIDENT) BOTH RECEIVE VARIOUS MINOR PERSONAL SERVICES FOR CONVENIENCE SUCH AS AUTOMOTIVE MAINTENANCE OR MINOR HOUSEKEEPING. A GUEST HOUSE ON CAMPUS IS TYPICALLY USED FOR HOUSING TRANSITIONAL EMPLOYEES WHO ARE NEW TO THE UNIVERSITY. RACHEL MARIE CRAMER FAMILY RELATIONSHIP - DAUGHTER OF BOARD MEMBER KEVIN CRAMER 6180 TUITION ASSISTANCE THROUGH EMPLOYMENT CONTRACT WITH MRS. KRIS CRAMER JOSEPH FLADELAND FAMILY RELATIONSHIP - SON OF BOARD MEMBER DIANE FLADELAND 12580 TUITION ASSISTANCE THROUGH EMPLOYMENT CONTRACT WITH DIANE FLADELAND KRIS CRAMER FAMILY RELATIONSHIP - WIFE OF BOARD MEMBER KEVIN CRAMER 41511 WAGES PAID - BOARD MEMBER KEVIN CRAMER'S WIFE IS EMPLOYED BY THE UNIVERSITY 0 FORM 990, PART VI, SECTION A, LINE 1 THE PRESIDENT OF THE UNIVERSITY SHALL BE AN EX OFFICIO MEMBER OF THE BOARD OF TRUSTEES. THE PRESIDENT SHALL NOT VOTE ON MATTERS CONCERNING OR RELATED TO 1) THE APPOINTMENT OF A SUCCESSOR, 2) THE PRESIDENT'S COMPENSATION, OR 3) MATTERS AFFECTING THE PRESIDENT'S OWN INTEREST, IN ACCORDANCE WITH ARTICLE X, SECTION 2, OF THE UNIVERSITY'S BYLAWS. THE PRESIDENT SHALL CEASE TO BE A TRUSTEE WHEN NO LONGER HOLDING THAT POSITION. FORM 990, PART VI, SECTION A, LINE 1 STANDING COMMITTEES: THE CORPORATION SHALL ESTABLISH AND MAINTAIN AS STANDING COMMITTEES A TRUSTEESHIP COMMITTEE AND AN EXECUTIVE COMMITTEE. A. TRUSTEESHIP COMMITTEE: THE TRUSTEESHIP COMMITTEE SHALL BE APPOINTED ANNUALLY BY THE PRESIDENT OF THE BOARD (PRIORESS). THE COMMITTEE SHALL CONSIST OF FOUR (4) TRUSTEES, WHICH INCLUDES THE PRESIDENT OF THE UNIVERSITY AS AN EX-OFFICIO MEMBER OF THE COMMITTEE. SUCH TRUSTEESHIP COMMITTEE SHALL RECOMMEND TO THE CORPORATE MEMBERSHIP NAMES AND QUALIFICATIONS FOR CONSIDERATION TO FILL ANY POSITIONS ON THE BOARD OF TRUSTEES. AFTER APPROVAL BY THE CORPORATE MEMBERSHIP, THE TRUSTEESHIP COMMITTEE SUBMITS TO THE BOARD OF TRUSTEES NOMINEES FOR ELECTION TO THE BOARD. IN ADDITION, THE COMMITTEE SHALL RECOMMEND TO THE BOARD A SLATE OF CANDIDATES FOR CHAIR, VICE CHAIR, AND SECRETARY. A MAJORITY VOTE OF THE TOTAL BOARD OF TRUSTEES CURRENTLY SERVING IS REQUIRED FOR ELECTION OF A TRUSTEE OR AN OFFICER. THE COMMITTEE SHALL DEVELOP AND ADMINISTER A PROGRAM OF ORIENTATION FOR NEWLY APPOINTED TRUSTEES. B. EXECUTIVE COMMITTEE: THE CHAIR OF THE BOARD OF TRUSTEES, INCONSULTATION WITH THE PRESIDENT OF THE BOARD (PRIORESS), THE PRESIDENT OF THE UNIVERSITY, AND OTHER TRUSTEES SHALL APPOINT THE EXECUTIVE COMMITTEE AT THE ANNUAL MEETING. THE EXECUTIVE COMMITTEE SHALL CONSIST OF NINE (9) TRUSTEES, TO INCLUDE THE CHAIR OF THE BOARD, THE PRESIDENT OF THE BOARD (PRIORESS), FOUR ADDITIONAL MEMBERS OF THE CORPORATION AND THREE ADDITIONAL TRUSTEES. SERVING AS THE PRINCIPAL LIAISON TO THE BOARD OF TRUSTEES, THE PRESIDENT OF THE UNIVERSITY SHALL BE PRESENT EX OFFICIO WITHOUT A VOTE AND NOT TO BE COUNTED FOR A QUORUM. A QUORUM OF THE EXECUTIVE COMMITTEE IS A MAJORITY OF THE TRUSTEES SERVING ON THE EXECUTIVE COMMITTEE. TO CONSTITUTE A VALID QUORUM, THE QUORUM MUST INCLUDE FOUR (4) MEMBERS OF THE CORPORATION. A QUORUM OF THE EXECUTIVE COMMITTEE IS REQUIRED TO TRANSACT BUSINESS. IF A QUORUM IS NOT PRESENT AT A MEETING, A MAJORITY OF THOSE PRESENT MAY ADJOURN THE MEETING WITHOUT FURTHER NOTICE. THE EXECUTIVE COMMITTEE SHALL MEET AS OFTEN AS NECESSARY TO CONDUCT ITS BUSINESS AS DETERMINED BY THE CHAIR AND THE PRESIDENT OF THE UNIVERSITY. THERE SHALL BE AT LEAST TWO (2) REGULAR MEETINGS OF THE EXECUTIVE COMMITTEE ANNUALLY. IN COLLABORATION WITH THE PRESIDENT OF THE UNIVERSITY, THE DUTIES OF THE EXECUTIVE COMMITTEE SHALL INCLUDE THE FOLLOWING: -MAKING DECISIONS THAT HAVE BEEN DELEGATED BY THE FULL BOARD -TAKING ACTION ON EMERGENCY MATTERS WHICH CANNOT OR SHOULD NOT BE DEFERRED TO THE BOARD'S NEXT SCHEDULED MEETING -PERFORMING INITIAL ASSESSMENT OF THE PRESIDENT OF THE UNIVERSITY ANNUALLY -PERFORMING SUCH DUTIES AS DESCRIBED IN ITS STATEMENT OF OPERATION THE EXECUTIVE COMMITTEE SHALL ACT ON BEHALF OF THE BOARD BETWEEN MEETINGS EXCEPT ON THE FOLLOWING MATTERS: -SELECTION AND APPOINTMENT OF THE PRESIDENT OF THE UNIVERSITY -SELECTION OF TRUSTEES AND OFFICERS -ADOPTION OF THE ANNUAL BUDGET -CONFERRAL OF DEGREES -EXERCISE OF THOSE POWERS RESERVED BY THE MEMBERS OF THE CORPORATION AS PROVIDED IN ARTICLE V. SECTION 3 OF THE UNIVERSITY'S BYLAWS OTHER COMMITTEES: AFTER CONSULTATION AND RECOMMENDATION OF THE BOARD OF TRUSTEES, THE CHAIR OF THE BOARD OF TRUSTEES SHALL DESIGNATE AND APPOINT COMMITTEES TO FACILITATE THE ACTIONS OF THE BOARD OF TRUSTEES, ENABLING IT TO FUNCTION MORE EFFICIENTLY AND EFFECTIVELY. EACH COMMITTEE SHALL HAVE, SUBJECT TO THE APPROVAL OF THE BOARD OF TRUSTEES, A STATEMENT OF OPERATION PRESCRIBING THE PURPOSES, GOALS AND RESPONSIBILITIES OF THE COMMITTEE. OTHER COMMITTEES THAT CURRENTLY EXIST ARE: -INVESTMENT COMMITTEE -FINANCE COMMITTEE -ENROLLMENT SERVICES COMMITTEE -ACADEMIC AFFAIRS AND STUDENT LIFE COMMITTEE FORM 990, PART VI, SECTION A, LINE 2 FAMILY AND BUSINESS RELATIONSHIPS - 1. BOARD MEMBERS GEORGE EHLIS AND JOE HAUER HAVE A BUSINESS RELATIONSHIP 2. BOARD MEMBERS BILL CLAIRMONT AND JOHN SIMMONS HAVE A BUSINESS RELATIONSHIP FORM 990, PART VI, SECTION A, LINE 6 MEMBERS - MEMBERSHIP OF THE CORPORATION SHALL CONSIST OF THOSE SISTERS SERVING IN THE SPONSORSHIP GROUP AS ESTABLISHED FROM TIME TO TIME BY THE MONASTIC COMMUNITY KNOWN AS THE BENEDICTINE SISTERS OF THE ANNUNCIATION, BMV, WHO HAVE MADE THEIR PERPETUAL MONASTIC PROFESSION. FORM 990, PART VI, SECTION A, LINE 7A POWERS SHARED WITH BOARD OF TRUSTEES - THE FOLLOWING RESERVED POWERS SHALL BE EXERCISED BY THE MEMBERS OF THE CORPORATION AND THE BOARD OF TRUSTEES. THE POWER OF THE BOARD TO ACT ON ANY OF THESE MATTERS IS SUBJECT TO THE REQUIREMENT THAT THE MEMBERS OF THE CORPORATION SHALL APPROVE SUCH ACTION PRIOR TO THE SUBMISSION OF THE MATTER TO A VOTE OF THE BOARD OF TRUSTEES. A. TO APPROVE ANY PERSON TO BE ELECTED TO SERVE ON THE BOARD OF TRUSTEES OR TO REMOVE ANY TRUSTEE IF THIS ACTION IS INDICATED. B. TO APPROVE A NEW CANDIDATE APPOINTED TO SERVE AS PRESIDENT OF THE UNIVERSITY. FORM 990, PART VI, SECTION A, LINE 7B POWERS RESERVED TO CORPORATION MEMBERS - EXERCISE OF THE FOLLOWING POWERS SHALL BE RESERVED SOLELY TO CORPORATION MEMBERS TO: A. APPROVE ANY CHANGE IN THE SPONSORSHIP, RESERVED POWERS OR MISSION OF THE UNIVERSITY AS AN INSTITUTION FOUNDED ON CHRISTIAN, CATHOLIC, AND BENEDICTINE TRADITION. B. APPROVE THE SALE OR ENCUMBRANCE OF ALL OR SUBSTANTIALLY ALL OF THE ASSETS OR PROPERTY OF THE CORPORATION. C. APPROVE THE MERGER, LIQUIDATION OR DISSOLUTION OF THE CORPORATION. D. AMEND, ALTER OR REPEAL THE ARTICLES OF INCORPORATION OR THE BYLAWS OF THE CORPORATION. E. CHANGE THE NAME OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11 UPON RECEIPT OF THE DRAFT FORM 990, THE ORGANIZATION WILL FORWARD A PUBLIC DISCLOSURE COPY TO THE EXECUTIVE COMMITTEE MEMBERS FOR THEIR REVIEW AND COMMENTS PRIOR TO ITS FILING WITH THE IRS. THE EXECUTIVE COMMITTEE HAS THE ABILITY TO ACT ON BEHALF OF THE BOARD IN BETWEEN BOARD MEETINGS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS COMPLETES A CONFLICT OF INTEREST QUESTIONNAIRE EACH YEAR. IF A MEMBER HAS A CONFLICT, THEY REFRAIN FROM GIVING INPUT OR VOTING ON THE ISSUE(S) IN THE RELATION OF THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15A THE PRESIDENT'S SALARY IS REVIEWED ANNUALLY BY THE INDEPENDENT BOARD. THE UNIVERSITY USES THE JAFFE SALARY SURVEY AS WELL AS CUPA SALARY REPORTS (COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION) TO OBTAIN COMPARABLE DATA FROM OTHER MIDWESTERN UNIVERSITIES. THE INFORMATION IS DOCUMENTED IN A LETTER NOTING THAT THE BOARD HAS ACCEPTED AND APPROVED THE SALARY CHANGE. THE TOP FINANCIAL OFFICIAL'S SALARY IS CURRENTLY REVIEWED AND APPROVED BY THE PRESIDENT. THE SAME JAFFE SALARY SURVEY AND CUPA SALARY REPORT IS USED FOR COMPARABLE DATA. THE PERCENTAGE INCREASE IS DOCUMENTED IN AN EMPLOYMENT CONTRACT, BUT NOT IN THE BOARD MEETING MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY PROVIDES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS UPON SPECIFIC REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 3,687,818. DONATED SERVICES AND USE OF FACILITIES: 18,154. ACTUARIAL GAINS - UNITRUST 84,933. ACTUARIAL LOSSES - ANNUITIES -216,569. TOTAL TO FORM 990, PART XI, LINE 5: 3,574,336. BENEDICTINE SISTERS OF THE ANNUNCIATION BMC 7520 UNIVERSITY DRIVE BISMARCK ND 58504 450261530 RELIGIOUS PURPOSES ND 501(C)(3) 170(B)(1)(A)(I) N/A 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 1 0