LAKE FOREST GRADUATE SCHOOL OF MANAGEMENT: Form 990, tax year 2010
View the entire original 990 at ProPublica ↗
- Organization
- LAKE FOREST GRADUATE SCHOOL OF MANAGEMENT (EIN 23-7013253)
- Tax period
- 2010-07-01 to 2011-06-30
- Filed
- 2011-12-12
- IRS object ID
- 201123469349300507
- Schema version
- 2010v3.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule C
- Schedule D
- Schedule E
- Schedule F
- Schedule G
- Schedule I
- Schedule J
- Schedule L
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2011-12-12T09:00:29-06:00 | Timestamp |
| Tax Period End Date | 2011-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CROWE HORWATH LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 70 West Madison Street | AddressLine1 |
| Address Line2 | Suite 700 | AddressLine2 |
| City | Chicago | City |
| State | IL | State |
| ZIP Code | 606024903 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2010-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 237013253 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LAKE FOREST GRADUATE SCHOOL OF MANAGEMENT | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | LAKE | NameControl |
| Phone | 8472345005 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1905 W Field Court | AddressLine1 |
| City | Lake Forest | City |
| State | IL | State |
| ZIP Code | 60045 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | MALCOLM DOUGLAS | Name |
| Title | VP - FINANCE AND ADMINISTRATION | Title |
| Date Signed | 2011-12-09 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 3128997000 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2010 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
Name Of Principal Officer Business NameOfPrincipalOfficerBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JOHN N POPOLI | BusinessNameLine1 |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1905 W Field Court | AddressLine1 |
| City | Lake Forest | City |
| State | IL | State |
| ZIP Code | 60045 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 12184807 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.LAKEFORESTMBA.EDU | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1946 | YearFormation |
| State Legal Domicile | IL | StateLegalDomicile |
| Activity Or Mission Description | LAKE FOREST GRADUATE SCHOOL OF MANAGEMENT (LFGSM) IS A PRIVATE, NONPROFIT INSTITUTION OF HIGHER EDUCATION DEDICATED TO IMPROVING THE ABILITY OF WORKING PROFESSIONALS AND ORGANIZATIONS TO MAKE SIGNIFICANT BUSINESS CONTRIBUTIONS THAT LEAD TO OUTSTANDING AND MEASURABLE RESULTS. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 23 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 18 | NbrIndependentVotingMembers |
| Total Nbr Employees | 204 | TotalNbrEmployees |
| Total Nbr Volunteers | 250 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 363788 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 478077 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 11377157 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 11472806 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 256550 | InvestmentIncomePriorYear |
| Investment Income Current Year | 174051 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 51044 | OtherRevenuePriorYear |
| Other Revenue Current Year | 37688 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 12048539 | TotalRevenuePriorYear |
| Total Revenue Current Year | 12162622 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 148828 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 234240 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 6874121 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 6906042 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 258194 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 4724060 | OtherExpensePriorYear |
| Other Expenses Current Year | 4767422 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 11747009 | TotalExpensesPriorYear |
| Total Expenses Current Year | 11907704 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 301530 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 254918 | RevenuesLessExpensesCY |
| Total Assets BOY | 17729176 | TotalAssetsBOY |
| Total Assets EOY | 18938482 | TotalAssetsEOY |
| Total Liabilities BOY | 1095633 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 1467473 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 16633543 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 17471009 | NetAssetsOrFundBalancesEOY |
| Mission Description | LAKE FOREST GRADUATE SCHOOL OF MANAGEMENT (LFGSM) IS A PRIVATE, NONPROFIT INSTITUTION OF HIGHER EDUCATION DEDICATED TO IMPROVING THE ABILITY OF WORKING PROFESSIONALS AND ORGANIZATIONS TO MAKE SIGNIFICANT BUSINESS CONTRIBUTIONS THAT LEAD TO OUTSTANDING AND MEASURABLE RESULTS. LFGSM GRANTS MBA DEGREES AND SPECIALIZES IN MANAGEMENT DEVELOPMENT EDUCATIONAL PROGRAMS FOR MANAGERS AND EXECUTIVES OF AREA BUSINESSES AND OTHER ORGANIZATIONS. THE MAJORITY OF LFGSM'S STUDENTS ENROLLED ARE FROM CHICAGO, ILLINOIS AND ITS SURROUNDING SUBURBS. | MissionDescription |
| Significant Change | false | SignificantChange |
| Expense | 7490652 | Expense |
| Grants | 234240 | Grants |
| Revenue | 10273872 | Revenue |
| Description | LAKE FOREST GRADUATE SCHOOL OF MANAGEMENT COMBINES TRADITIONAL AND LEADING-EDGE ACADEMICS WITH A PRACTITIONER FACULTY THAT PROVIDES A DYNAMIC CONNECTION WITH THE REAL WORLD OF BUSINESS. THIS DISTINCTIVE APPROACH RESPONDS DIRECTLY TO THE RESULTS-ORIENTED DEMANDS OF TODAY'S BUSINESS ENVIRONMENT WHILE SATISFYING ACADEMIC RIGOR. OUR FACULTY MEMBERS OFFER DIVERSE PERSPECTIVES AND REPRESENT A WIDE ARRAY OF ORGANIZATIONS, INDUSTRIES, AND FUNCTIONS. THEY BLEND SOLID BUSINESS THEORY WITH PRACTICAL EXPERIENCE, SO STUDENTS RECEIVE A HANDS-ON EDUCATION THAT IS UNMATCHED. ALL OF OUR FACULTY MEMBERS HAVE EXTENSIVE PRACTICAL EXPERIENCE IN THE SUBJECT AREAS THEY TEACH. BUILDING ON THE SKILLS STUDENTS BRING TO THE PROGRAM, OUR COURSES SHARPEN THEIR ANALYTICAL ABILITIES BY COMBINING COURSE WORK WITH DAY-TO-DAY PROFESSIONAL EXPERIENCES. OUR GENERAL MBA PROGRAM OFFERS A BROAD KNOWLEDGE BASE IN EVERY AREA NEEDED FOR SUCCESS IN TODAY'S BUSINESS WORLD. INTERACTIVE AND PERSONAL, OUR FACULTY MEMBERS INCORPORATE A WIDE RANGE OF TEACHING METHODOLOGIES, INCLUDING FACILITATED DISCUSSION, ISSUES AND RESPONSIBILITIES FACING MANAGEMENT TODAY. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 600040 | Expense |
| Revenue | 1201222 | Revenue |
| Description | LAKE FOREST CORPORATE EDUCATION (LFCE) IS A PART OF LAKE FOREST GRADUATE SCHOOL WHICH PROVIDES INTERRELATED FORMAL CLASSROOM BUSINESS EDUCATION INSTRUCTION IN THE FORM OF CERTIFICATE PROGRAMS AND SHORT-TERM WORKSHOPS IN SUBJECTS SUCH AS STRATEGIC EXECUTION, FINANCE, COMMUNICATION, LEADERSHIP DEVELOPMENT, NEGOTIATIONS, PROJECT MANAGEMENT, MANAGING CHANGE, AND SALES. LFCE PROVIDES THESE PROGRAMS TO CORPORATIONS, PRIMARILY IN THE CHICAGO AREA. LFCE DEVELOPS CURRICULA, WHICH WHEN DELIVERED THROUGH FORMAL CLASSROOM INSTRUCTION ENABLE EMPLOYEES OF THOSE ORGANIZATIONS TO BROADEN THEIR BUSINESS KNOWLEDGE, AND TO HELP THEM MOVE FROM INDIVIDUAL CONTRIBUTOR TO ORGANIZATIONAL CONTRIBUTORS. THIS IS ACCOMPLISHED BY TAILORING CURRICULA, CONTENT, AND PROGRAMS TO MEET SPECIFIC NEEDS OF THE EMPLOYEES OF THE CORPORATIONS. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expense | 8090692 | TotalProgramServiceExpense |
| Described In501 C3 | true | DescribedIn501C3 |
| Schedule B Required | true | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Lobbying Activities | false | LobbyingActivities |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | false | CollectionsOfArt |
| Credit Counseling | false | CreditCounseling |
| Term Or Permanent Endowments | true | TermOrPermanentEndowments |
| Report Land Bldg Equip | true | ReportLandBldgEquip |
| Report Invest Oth Securities | false | ReportInvestOthSecurities |
| Report Prog Rel Invest | false | ReportProgRelInvest |
| Report Other Assets | false | ReportOtherAssets |
| Report Other Liabilities | false | ReportOtherLiabilities |
| Report Fin48 Footnote | true | ReportFin48Footnote |
| Independent Audit Financial Stmt | true | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | false | ConsolidatedAuditFinancialStmt |
| School | true | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | true | ForeignActivities |
| More Than5000 K To Organizations | false | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividuals |
| Professional Fundraising | false | ProfessionalFundraising |
| Fundraising Activities | true | FundraisingActivities |
| Gaming | false | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | false | GrantsToOrganizations |
| Grants To Individuals | true | GrantsToIndividuals |
| Schedule J Required | true | ScheduleJRequired |
| Tax Exempt Bonds | false | TaxExemptBonds |
| Excess Benefit Transaction | false | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | false | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | false | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | false | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | true | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | false | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | false | DeductibleNonCashContributions |
| Deductible Contributions Of Art | false | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | false | DisregardedEntity |
| Related Entity | false | RelatedEntity |
| Related Org Controlled Entity | false | RelatedOrgControlledEntity |
| Transaction Related Entity | false | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | false | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 24 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 204 | NumberOfEmployees |
| Employment Tax Returns Filed | true | EmploymentTaxReturnsFiled |
| Unrelated Business Income | false | UnrelatedBusinessIncome |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Quid Pro Quo Contributions | true | QuidProQuoContributions |
| Quid Pro Quo Disclosure | true | QuidProQuoDisclosure |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | false | FundsToPayPremiums |
| Premiums Paid | false | PremiumsPaid |
| Indoor Tanning Services | false | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 23 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 18 | NumberIndependentVotingMembers |
| Family Or Business Relationship | false | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | false | DelegationOfManagementDuties |
| Changes To Organizing Docs | false | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuse |
| Members Or Stockholders | false | MembersOrStockholders |
| Election Of Board Members | false | ElectionOfBoardMembers |
| Decisions Subject To Approval | false | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | false | LocalChapters |
| Form990 Provided To Governing Body | true | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | true | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | RegularMonitoringEnforcement |
| Whistleblower Policy | true | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | true | CompensationProcessCEO |
| Compensation Process Other | true | CompensationProcessOther |
| Investment In Joint Venture | false | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MALCOLM DOUGLAS | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 8475745166 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1905 W FIELD COURT | AddressLine1 |
| City | LAKE FOREST | City |
| State | IL | State |
| ZIP Code | 60045 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | X | InfoInScheduleOPartVII |
Form990 Part VII Section A Form990PartVIISectionA (35 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | FormerFormer | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| ARVIND J SINGH | ||||||||
| DIRECTOR | 1 | X | 0 | 0 | 0 | |||
| B MONTGOMERY EDSON | ||||||||
| DIRECTOR | 1 | X | 16400 | 0 | 0 | |||
| B RICHARD SURKAMER | ||||||||
| DIRECTOR | 1 | X | 0 | 0 | 0 | |||
| BRUCE MCGILLIVRAY | ||||||||
| DIRECTOR | 1 | X | 0 | 0 | 0 | |||
| CHARLES BRUMMELL | ||||||||
| DIRECTOR | 1 | X | 0 | 0 | 0 | |||
| DAVID M MCDONOUGH | ||||||||
| DIRECTOR, VICE CHAIR | 1 | X | 0 | 0 | 0 | X | ||
| GARY CHAN | ||||||||
| DIRECTOR | 1 | X | 0 | 0 | 0 | |||
| HEATHER LOWE | ||||||||
| DIRECTOR | 1 | X | 0 | 0 | 0 | |||
| J RON MOORE | ||||||||
| DIRECTOR | 1 | X | 0 | 0 | 0 | |||
| JOAN H BAILAR | ||||||||
| DIRECTOR, CHAIR | 1 | X | 8805 | 0 | 0 | X | ||
| JODY C BERNS | ||||||||
| DIRECTOR | 1 | X | 0 | 0 | 0 | |||
| JOHN P PAPPAS | ||||||||
| DIRECTOR | 1 | X | 24545 | 0 | 0 | |||
| KENNETH A HOFFMAN | ||||||||
| DIRECTOR, SECRETARY | 1 | X | 0 | 0 | 0 | X | ||
| PAMELA MIX | ||||||||
| DIRECTOR | 1 | X | 0 | 0 | 0 | |||
| PATRICIA A COFFEY | ||||||||
| DIRECTOR | 1 | X | 0 | 0 | 0 | |||
| RICK L ADAMS | ||||||||
| DIRECTOR | 1 | X | 8080 | 0 | 0 | |||
| ROBERT D BLACKWELL | ||||||||
| DIRECTOR | 1 | X | 0 | 0 | 0 | |||
| SAMUEL P BRILLIANT | ||||||||
| DIRECTOR | 1 | X | 0 | 0 | 0 | |||
| SCOTT I SHAFFER | ||||||||
| DIRECTOR | 1 | X | 0 | 0 | 0 | |||
| SEAMON A LINCOLN | ||||||||
| DIRECTOR | 1 | X | 0 | 0 | 0 | |||
| STEPHEN D SCHUTT | ||||||||
| DIRECTOR | 1 | X | 0 | 0 | 0 | |||
| WILLIAM J COLBOURNE | ||||||||
| DIRECTOR | 1 | X | 0 | 0 | 0 | |||
| JOHN N POPOLI | ||||||||
| PRESIDENT & CEO | 38 | X | 230512 | 0 | 31362 | X | ||
| CURTIS WANG | ||||||||
| VP - MARKETING & ADMISSIONS | 38 | 157884 | 0 | 39257 | X | |||
| GREG KOZAK | ||||||||
| VP - INFORMATION TECHNOLOGY | 38 | 128821 | 0 | 32654 | X | |||
| JOAN M STELTMANN | ||||||||
| VP - ENTERPRISE ADVANCEMENT | 38 | 104397 | 0 | 13184 | X | |||
| KATHY LECK | ||||||||
| VP - CORPORATE EDUCATION | 38 | 180681 | 0 | 41093 | X | |||
| SUZANNE COONAN | ||||||||
| VP - HUMAN RESOURCES | 38 | 100733 | 0 | 31012 | X | |||
| ARLENE MAYZEL | ||||||||
| VP/DEAN - DEGREE PROGRAMS | 38 | 134106 | 0 | 28364 | X | |||
| MALCOLM DOUGLAS | ||||||||
| VP - FINANCE & ADMINISTRATION | 38 | 157455 | 0 | 36761 | X | |||
| STASIA ZWISLER | ||||||||
| VP - DEVELOPMENT AND HUMAN RESOURCES | 38 | 80793 | 0 | 0 | X | |||
| FRANK BRLETICH | ||||||||
| SR. ASSOCIATE DEAN RDI | 38 | 119332 | 0 | 26174 | X | |||
| HOWARD PRAGER | ||||||||
| SR. PROGRAM MGR-CE | 38 | 101751 | 0 | 30806 | X | |||
| SUSAN VECE | ||||||||
| ASSOC VP CE | 38 | 114282 | 0 | 19702 | X | |||
| MARTHA WATT | ||||||||
| DIR CORP SALES & MARKETING | 38 | 111283 | 0 | 20572 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 1779860 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 350941 | TotalOtherCompensation |
| Number Individuals GT100 K | 12 | NumberIndividualsGT100K |
| Formers Listed | true | FormersListed |
| Total Comp GT150 K | true | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| MICHAEL WALTERS ADVERTISING | |||||
| 444 N WABASH STREET | CHICAGO | IL | 60611 | ADVERTISING AGENCY | 684872 |
| PEPPER CONSTRUCTION COMPANY | |||||
| 643 NORTH ORLEANS STREET | CHICAGO | IL | 606543608 | CONSTRUCTION | 513877 |
| AVI SYSTEMS INC | |||||
| 621 BUSSE ROAD SUITE 101 | BENSENVILLE | IL | 60106 | AUDIO VISUAL INTEGRATORS | 184817 |
| THE ACCENT TRAVEL GROUP | |||||
| ONE BELMONT AVENUE SUITE 415 | BALA CYNWYD | PA | 19004 | TRAVEL ASSISTANCE | 182590 |
| COLMAN BROHAN & DAVIS INC | |||||
| 54 W HUBBARD ST CONCOURSE LEVEL E | CHICAGO | IL | 60654 | ADVERTISING | 141995 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 6 | NumberOfContractorsGT100K |
| Fundraising Events | 39905 | FundraisingEvents |
| Government Grants | 247525 | GovernmentGrants |
| All Other Contributions | 190647 | AllOtherContributions |
| Total Contributions | 478077 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (4 entries)
| DescriptionDescription | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|
| MBA PROGRAM TUITION | 10166833 | 10166833 |
| NON-DEGREE BUSINESS PROGRAMS | 1201222 | 1201222 |
| OTHER MBA PROGRAM FEES | 98695 | 98695 |
| EA PROGRAM | 6056 | 6056 |
Total Oth Program Service Revenue TotalOthProgramServiceRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
| Related Or Exempt Function Income | 0 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $0 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 11472806 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 174051 | TotalRevenueColumn |
| Exclusion | $174,051 | ExclusionAmount |
Income From Invest Bond Proceeds IncomeFromInvestBondProceeds
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Gross Rents GrossRents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 51480 | Real |
Less Rental Expenses LessRentalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 0 | Real |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 51480 | Real |
| Personal | 0 | Personal |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 51480 | TotalRevenueColumn |
| Exclusion | $51,480 | ExclusionAmount |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 0 | Securities |
| Other | 0 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Income Fundraising Events | 6105 | GrossIncomeFundraisingEvents |
| Cntrbtns Rprtd Fundraising Events | 39905 | CntrbtnsRprtdFundraisingEvents |
| Fundraising Direct Expenses | 22185 | FundraisingDirectExpenses |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -16080 | TotalRevenueColumn |
| Exclusion | -$16,080 | ExclusionAmount |
Net Income From Gaming NetIncomeFromGaming
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Other Revenue Misc OtherRevenueMisc (2 entries)
| DescriptionDescription | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|
| LOGO MERCHANDISE | 804 | 804 |
| MISCELLANEOUS REVENUE | 1484 | 1484 |
Miscellaneous Revenue MiscellaneousRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
| Related Or Exempt Function Income | 0 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $0 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 2288 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 12162622 | TotalRevenueColumn |
| Related Or Exempt Function Income | 11475094 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $209,451 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 234240 | Total |
| Program Services | 234240 | ProgramServices |
Foreign Grants ForeignGrants
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1275382 | Total |
| Program Services | 314787 | ProgramServices |
| Management And General | 868000 | ManagementAndGeneral |
| Fundraising | 92595 | Fundraising |
Comp Disqual Persons CompDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4494162 | Total |
| Program Services | 3333212 | ProgramServices |
| Management And General | 1145669 | ManagementAndGeneral |
| Fundraising | 15281 | Fundraising |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 263647 | Total |
| Program Services | 137807 | ProgramServices |
| Management And General | 119441 | ManagementAndGeneral |
| Fundraising | 6399 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 520553 | Total |
| Program Services | 272091 | ProgramServices |
| Management And General | 235828 | ManagementAndGeneral |
| Fundraising | 12634 | Fundraising |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 352298 | Total |
| Program Services | 212528 | ProgramServices |
| Management And General | 132663 | ManagementAndGeneral |
| Fundraising | 7107 | Fundraising |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 42103 | Total |
| Program Services | 4380 | ProgramServices |
| Management And General | 37723 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 44800 | Total |
| Management And General | 44800 | ManagementAndGeneral |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1227215 | Total |
| Program Services | 1227215 | ProgramServices |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 113299 | Total |
| Program Services | 44055 | ProgramServices |
| Management And General | 69244 | ManagementAndGeneral |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 123695 | Total |
| Program Services | 27487 | ProgramServices |
| Management And General | 96208 | ManagementAndGeneral |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 414812 | Total |
| Program Services | 414812 | ProgramServices |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 39710 | Total |
| Program Services | 12872 | ProgramServices |
| Management And General | 26679 | ManagementAndGeneral |
| Fundraising | 159 | Fundraising |
Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 32540 | Total |
| Program Services | 6839 | ProgramServices |
| Management And General | 24739 | ManagementAndGeneral |
| Fundraising | 962 | Fundraising |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 448881 | Total |
| Program Services | 300750 | ProgramServices |
| Management And General | 148131 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 54579 | Total |
| Program Services | 23926 | ProgramServices |
| Management And General | 30653 | ManagementAndGeneral |
Other Expenses OtherExpenses (3 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral | FundraisingFundraising |
|---|---|---|---|---|
| PROGRAM SERVICES | 1098254 | 1098254 | ||
| STUDENT SERVICES AND INSTITUTIONAL SUPPORT | 814794 | 215899 | 475838 | 123057 |
| OPERATIONS AND MAINTENANCE | 312740 | 209538 | 103202 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
| Program Services | 0 | ProgramServices |
| Management And General | 0 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 11907704 | Total |
| Program Services | 8090692 | ProgramServices |
| Management And General | 3558818 | ManagementAndGeneral |
| Fundraising | 258194 | Fundraising |
Total Joint Costs TotalJointCosts
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2930734 | BOY |
| EOY | 2607732 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 210084 | BOY |
| EOY | 253162 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 23685 | BOY |
| EOY | 24990 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 936193 | BOY |
| EOY | 847608 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 124903 | BOY |
| EOY | 118617 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 13297596 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 3376292 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 9059426 | BOY |
| EOY | 9921304 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4444151 | BOY |
| EOY | 5165069 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 17729176 | BOY |
| EOY | 18938482 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 737577 | BOY |
| EOY | 1040274 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 358056 | BOY |
| EOY | 427199 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1095633 | BOY |
| EOY | 1467473 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 15903879 | BOY |
| EOY | 16764967 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 529664 | BOY |
| EOY | 506042 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 200000 | BOY |
| EOY | 200000 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 16633543 | BOY |
| EOY | 17471009 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 17729176 | BOY |
| EOY | 18938482 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 254918 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 582548 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
| Audit Committee | true | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | true | FederalGrantAuditRequired |
| Federal Grant Audit Performed | true | FederalGrantAuditPerformed |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School170b1 Aii | X | School170b1Aii |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Exmpt Function Expenditures | 0 | TotalExmptFunctionExpenditures |
| Total Lobbying Expenditures IIB | 0 | TotalLobbyingExpendituresIIB |
| Non Ded Lobby Political Total | 0 | NonDedLobbyPoliticalTotal |
Schedule D IRS990ScheduleD
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 262674 | BeginningOfYearBalance |
| Investment Earnings Or Losses | 17002 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 12206 | GrantsOrScholarships |
| End Of Year Balance | 267470 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 110094 | BeginningOfYearBalance |
| Contributions | 150000 | Contributions |
| Investment Earnings Or Losses | 9955 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 7375 | GrantsOrScholarships |
| End Of Year Balance | 262674 | EndOfYearBalance |
Current Year Minus2 Years CurrentYearMinus2Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 108030 | BeginningOfYearBalance |
| Investment Earnings Or Losses | 7474 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 5410 | GrantsOrScholarships |
| End Of Year Balance | 110094 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated EOY Balance | 0.00000 | BoardDesignatedEOYBalance |
| Permanent Endowment EOY Balance | 0.74770 | PermanentEndowmentEOYBalance |
| Term Endowment EOY Balance | 0.25230 | TermEndowmentEOYBalance |
| Endowments Held By Unrelated Orgs | false | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | false | EndowmentsHeldByRelatedOrgs |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 2253006 | OtherCostOrOtherBasis |
| Book Value | 2253006 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 8269963 | OtherCostOrOtherBasis |
| Depreciation | 1879465 | Depreciation |
| Book Value | 6390498 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 708244 | OtherCostOrOtherBasis |
| Depreciation | 37559 | Depreciation |
| Book Value | 670685 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 2066383 | OtherCostOrOtherBasis |
| Depreciation | 1459268 | Depreciation |
| Book Value | 607115 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Book Value | 0 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 9921304 | TotalOfBookValueLandBuildings |
| Federal Income Tax Liability | 0 | FederalIncomeTaxLiability |
| Total Of Amounts | 0 | TotalOfAmounts |
| Total Revenue | 12162622 | TotalRevenue |
| Total Expenses | 11907704 | TotalExpenses |
| Excess Or Deficit For Year | 254918 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | 582548 | NetUnrealizedGLOnInvestments |
| Other | $0 | OtherAmount |
| Total Adjustments | 582548 | TotalAdjustments |
| Excess Or Deficit Per FS | 837466 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 12557923 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | 582548 | NetUnrealizedGainsInvestments |
| Donated Srvc And Use Of Facilities | 24808 | DonatedSrvcAndUseOfFacilities |
| Other Revenues | -234240 | OtherRevenues |
| Revenue Not Rptd F990 | 373116 | RevenueNotRptdF990 |
| Revenue Subtotal | 12184807 | RevenueSubtotal |
| Other Revenues Not Included | -22185 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | -22185 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 12162622 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 11720457 | TotExpensesEtcAuditedFinclStmt |
| Donated Services Use Of Facilities | 24808 | DonatedServicesUseOfFacilities |
| Other Expenses Included | 22185 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | 46993 | ExpensesNotRptdF990 |
| Expenses Subtotal | 11673464 | ExpensesSubtotal |
| Other Expenses Not Included | 234240 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 234240 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 11907704 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (6 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Intended uses of endowment funds | Schedule D, Part V, Line 4 | THE YOMINE ENDOWMENT FUND AND THE KAULE ENDOWMENT FUND ARE USED TO PROVIDE SCHOLARSHIPS TO MBA STUDENTS. |
| FIN 48 (ASC 740) footnote | Schedule D, Part X, Line 2 | THE SCHOOL (LAKE FOREST GRADUATE SCHOOL OF MANAGEMENT) HAS RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE INDICATING THAT IT IS A NOT-FOR-PROFIT ENTITY AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC") AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE IRC, EXCEPT FOR TAXES PERTAINING TO UNRELATED BUSINESS INCOME. THE SCHOOL ADOPTED GUIDANCE WITH RESPECT TO ACCOUNTING FOR UNCERTAIN TAX POSITIONS. NO PROVISION HAS BEEN MADE FOR INCOME TAXES IN THE ACCOMPANYING FINANCIAL STATEMENTS, AS THE SCHOOL HAS HAD NO SIGNIFICANT UNRELATED BUSINESS INCOME. IF THE SCHOOL INCURS INTEREST AND PENALTIES, THE SCHOOL RECOGNIZES INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST AND INCOME TAX EXPENSE, RESPECTIVELY. THE SCHOOL HAS NO AMOUNTS ACCRUED FOR INTEREST AND PENALTIES AS OF JUNE 30, 2011. THE SCHOOL HAS NOT BEEN EXAMINED BY ANY TAX JURISDICTION. THE SCHOOL HAS NO ON-GOING FEDERAL, STATE OR LOCAL TAX AUDITS, HOWEVER THE SCHOOL'S TAX RETURNS FOR 2008 AND SUBSEQUENT YEARS ARE OPEN TO EXAMINATION. THE COLLEGE DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS TO SIGNIFICANTLY CHANGE IN THE NEXT 12 MONTHS. |
| Other revenues in audited financial statements not in form 990 | Schedule D, Part XII, Line 2d | SCHOLARSHIPS - -234240; |
| Other revenues in form 990 not in audited financial statements | Schedule D, Part XII, Line 4b | FUNDRAISING EXPENSES - -22185; |
| Other expenses in audited financial statements not in form 990 | Schedule D, Part XIII, Line 2d | FUNDRAISING EXPENSES - 22185; |
| Other expenses in form 990 not in audited financial statements | Schedule D, Part XIII, Line 4b | SCHOLARSHIPS - 234240; |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | true | NondiscriminatoryPolicyStmt |
| Policy Statement In Brochures Etc | true | PolicyStatementInBrochuresEtc |
| Policy Publ Via Broadcast Media | true | PolicyPublViaBroadcastMedia |
| Maint Racial Composition Records | true | MaintRacialCompositionRecords |
| Maint Scholarships Records | true | MaintScholarshipsRecords |
| Maint Copies Of Brochures Etc | true | MaintCopiesOfBrochuresEtc |
| Maint Copies Of All Solicitations | true | MaintCopiesOfAllSolicitations |
| Discriminate Race Students Rights | false | DiscriminateRaceStudentsRights |
| Discriminate Race Admiss Policies | false | DiscriminateRaceAdmissPolicies |
| Discriminate Race Emplmn Faculty | false | DiscriminateRaceEmplmnFaculty |
| Discriminate Race Scholarships | false | DiscriminateRaceScholarships |
| Discriminate Race Educ Policies | false | DiscriminateRaceEducPolicies |
| Discriminate Race Use Of Fclts | false | DiscriminateRaceUseOfFclts |
| Discriminate Race Other Acty | false | DiscriminateRaceOtherActy |
| Government Financial Aid Received | true | GovernmentFinancialAidReceived |
| Government Financial Aid Revoked | false | GovernmentFinancialAidRevoked |
| Compliance With Rev Proc7550 | true | ComplianceWithRevProc7550 |
Form990 Schedule E Part II Form990ScheduleEPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Financial aid or assistance from a governmental agency | Identifier |
| Return Reference | Schedule E, Line 6a | ReturnReference |
| Explanation | LAKE FOREST GRADUATE SCHOOL OF MANAGEMENT(LFGSM) RECEIVES THE FOLLOWING FINANCIAL AID AND/OR ASSISTANCE FROM A GOVERNMENTAL AGENCY: SCHOLARSHIPS, LOANS, VETERANS BENEFITS, AND SUPPLEMENTAL INFORMATION RESOURCES. ALL LFGSM STUDENTS ARE ELIGIBLE TO APPLY FOR FEDERAL STAFFORD LOANS, REGARDLESS OF THEIR INCOME. IN ADDITION TO STAFFORD LOANS, LFGSM STUDENTS MAY BE ELIGIBLE TO APPLY FOR THE SUPPLEMENTAL FINANCIAL RESOURCES INCLUDING SCHOLARSHIPS, VETERANS BENEFITS, AND PRIVATE LOANS. LAKE FOREST GRADUATE SCHOOL OF MANAGEMENT'S DEPARTMENT OF EDUCATION TITLE IV SCHOOL CODE IS G23192. | Explanation |
Schedule F IRS990ScheduleF
Accts Actvs Out US Table AcctsActvsOutUSTable (3 entries)
| RegionRegion | Number Of OfficesNumberOfOffices | Number Of EmployeesNumberOfEmployees | Type Of Activities ConductedTypeOfActivitiesConducted | Specific Services ProvidedSpecificServicesProvided | Total ExpendituresTotalExpenditures |
|---|---|---|---|---|---|
| SOUTH AMERICA | 0 | 0 | PROGRAM SERVICES | STUDY ABROAD/TRAVEL PROGRAM - SEE PART V | 86048 |
| EAST ASIA AND THE PACIFIC | 0 | 0 | PROGRAM SERVICES | STUDY ABROAD/TRAVEL PROGRAM - SEE PART V | 103813 |
| EUROPE (INCLUDING ICELAND AND GREENLAND) | 0 | 0 | PROGRAM SERVICES | STUDY ABROAD/TRAVEL PROGRAM - SEE PART V | 91447 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Number Of Offices | 0 | TotalNumberOfOffices |
| Total Number Of Employees | 0 | TotalNumberOfEmployees |
| Total Amount Spent | 281308 | TotalAmountSpent |
| Transfer To Foreign Corp | false | TransferToForeignCorp |
| Interest In Foreign Trust | false | InterestInForeignTrust |
| Own Foreign Corp | false | OwnForeignCorp |
| Passive Foreign Invest Co | false | PassiveForeignInvestCo |
| Foreign Partnership | false | ForeignPartnership |
| Boycott Countries | false | BoycottCountries |
Form990 Schedule F Part V Form990ScheduleFPartV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | ACTIVITIES PER REGION | Identifier |
| Return Reference | SCHEDULE F, PART 3 | ReturnReference |
| Explanation | THE FOLLOWING STUDY ABROAD/TRAVEL PROGRAMS ARE OFFERED BY LFGSM: 5841 GLOBAL PRACTICUM: ASIA THIS COURSE OFFERS STUDENTS AN OPPORTUNITY TO FOCUS ON THE ASIAN BUSINESS ENVIRONMENT WITHIN AN INNOVATIVE AND FLEXIBLE FRAMEWORK THAT COMBINES TRADITIONAL CLASSROOM-BASED LEARNING WITH STRUCTURED, RIGOROUS IN-COUNTRY EXPERIENTIAL LEARNING. FOCUSING ON EMERGING MARKETS IN TERMS OF DEVELOPMENT, ECONOMY, GROWTH, AND PHILOSOPHIES IN A MULTI-CULTURAL SETTING, THE CHALLENGES AND OPPORTUNITIES OF THESE DYNAMIC MARKETS ARE ADDRESSED. THE PRAGMATIC ASPECTS OF DOING BUSINESS ABROAD, SUCH AS CULTURAL DIFFERENCES, RESOURCE AVAILABILITY, LEGAL AND ECONOMIC FRAMEWORK, TECHNOLOGY, AND MARKETING ISSUES ARE EXPLORED THROUGH CLASSROOM DISCUSSION, IN-COUNTRY COMPANY AND GOVERNMENT SITE VISITS, LECTURES FROM ASIAN EDUCATORS AND BUSINESS LEADERS, AND CONSULTING PROJECT CLIENT INTERACTION. EFFECTIVE COMMUNICATION AND ETHICAL DECISION MAKING UNDER THE UMBRELLA OF THE GLOBAL CHALLENGE ARE ADDRESSED. 5840 GLOBAL PRACTICUM: EUROPE THIS COURSE OFFERS STUDENTS AN OPPORTUNITY TO FOCUS ON THE EUROPEAN BUSINESS ENVIRONMENT WITHIN AN INNOVATIVE AND FLEXIBLE FRAMEWORK THAT COMBINES TRADITIONAL CLASSROOM-BASED LEARNING WITH STRUCTURED, RIGOROUS IN-COUNTRY EXPERIENTIAL LEARNING. THE PRAGMATIC ASPECTS OF DOING BUSINESS ABROAD, SUCH AS CULTURAL DIFFERENCES, RESOURCE AVAILABILITY, LEGAL AND ECONOMIC FRAMEWORK, TECHNOLOGY, AND MARKETING ISSUES, ARE EXPLORED THROUGH CLASSROOM DISCUSSION, IN-COUNTRY COMPANY AND GOVERNMENT SITE VISITS, LECTURES FROM EUROPEAN EDUCATORS AND BUSINESS LEADERS, AND CONSULTING PROJECT CLIENT INTERACTION. EFFECTIVE COMMUNICATION AND ETHICAL DECISION MAKING UNDER THE UMBRELLA OF THE GLOBAL CHALLENGE ARE ADDRESSED. 5842 GLOBAL PRACTICUM: LATIN AMERICA THIS COURSE OFFERS STUDENTS AN OPPORTUNITY TO FOCUS ON THE LATIN AMERICAN AND U.S. HISPANIC BUSINESS ENVIRONMENT WITHIN AN INNOVATIVE AND FLEXIBLE FRAMEWORK THAT COMBINES TRADITIONAL CLASSROOM-BASED LEARNING WITH STRUCTURED, RIGOROUS IN-COUNTRY EXPERIENTIAL LEARNING. THE PRAGMATIC ASPECTS OF DOING BUSINESS ABROAD, SUCH AS CULTURAL DIFFERENCES, RESOURCE AVAILABILITY, LEGAL AND ECONOMIC FRAMEWORK, TECHNOLOGY, AND MARKETING ISSUES, ARE EXPLORED THROUGH CLASSROOM DISCUSSION, IN-COUNTRY COMPANY AND GOVERNMENT SITE VISITS, LECTURES FROM LATIN AMERICAN EDUCATORS AND BUSINESS LEADERS, AND CONSULTING PROJECT CLIENT INTERACTION. EFFECTIVE COMMUNICATION AND ETHICAL DECISION MAKING UNDER THE UMBRELLA OF THE GLOBAL CHALLENGE ARE ADDRESSED. | Explanation |
Schedule G IRS990ScheduleG
Events Information EventsInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Event1 | GOLF OUTING | NameOfEvent1 |
| Gross Receipts Event1 | 46010 | GrossReceiptsEvent1 |
| Charitable Contributions Event1 | 39905 | CharitableContributionsEvent1 |
| Gross Revenue Event1 | 6105 | GrossRevenueEvent1 |
| Rent Facility Costs Event1 | 9615 | RentFacilityCostsEvent1 |
| Other Direct Expenses Event1 | 12570 | OtherDirectExpensesEvent1 |
| Name Of Event2 | NONE | NameOfEvent2 |
| Gross Receipts Event2 | 0 | GrossReceiptsEvent2 |
| Charitable Contributions Event2 | 0 | CharitableContributionsEvent2 |
| Gross Revenue Event2 | 0 | GrossRevenueEvent2 |
| Food And Beverage Event2 | 0 | FoodAndBeverageEvent2 |
| Total Number Of Other Events | 0 | TotalNumberOfOtherEvents |
| Gross Receipts Other Events | 0 | GrossReceiptsOtherEvents |
| Charitable Contrib Other Events | 0 | CharitableContribOtherEvents |
| Gross Revenue Other Events | 0 | GrossRevenueOtherEvents |
| Food And Beverage Other Events | 0 | FoodAndBeverageOtherEvents |
| Gross Receipts Total | 46010 | GrossReceiptsTotal |
| Charitable Contributions Total | 39905 | CharitableContributionsTotal |
| Gross Revenue Total Events | 6105 | GrossRevenueTotalEvents |
| Cash Prizes Total Events | 0 | CashPrizesTotalEvents |
| Non Cash Prizes Total Events | 0 | NonCashPrizesTotalEvents |
| Rent Facility Costs Total Events | 9615 | RentFacilityCostsTotalEvents |
| Food And Beverage Total Events | 0 | FoodAndBeverageTotalEvents |
| Entertainment Total Events | 0 | EntertainmentTotalEvents |
| Other Direct Expenses Total Events | 12570 | OtherDirectExpensesTotalEvents |
| Direct Expense Summary Events | 22185 | DirectExpenseSummaryEvents |
| Net Income Summary | -16080 | NetIncomeSummary |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | true | RecordsMaintained |
Form990 Schedule I Part III Form990ScheduleIPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Grant | SCHOLARSHIPS | TypeOfGrant |
| Number Of Recipients | 169 | NumberOfRecipients |
| Amount Of Cash Grant | 234240 | AmountOfCashGrant |
| Amount Of Non Cash Assistance | 0 | AmountOfNonCashAssistance |
| Method Of Valuation | FMV | MethodOfValuation |
| Description Of Non Cash Assistance | NA | DescriptionOfNonCashAssistance |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Procedures for monitoring use of grant funds | Identifier |
| Return Reference | Schedule I, Part I, Line 2 | ReturnReference |
| Explanation | ALL GRANTS ARE IN THE FORM OF SCHOLARSHIPS AND ARE APPLIED TOWARD THE COST OF TUITION ONLY. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Form990 Of Other Organizations | X | Form990OfOtherOrganizations |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | true | SeverancePayment |
| Supplemental Nonqual Retire Plan | false | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | false | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | false | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | false | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | false | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | false | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | false | AnyNonFixedPayments |
| Initial Contract Exception | false | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (7 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JOHN N POPOLI | |||||||||||||
| 228574 | 0 | 1000 | 0 | 938 | 0 | 23174 | 0 | 8188 | 0 | 261874 | 0 | 0 | 0 |
| CURTIS WANG | |||||||||||||
| 156033 | 0 | 1000 | 0 | 851 | 0 | 16831 | 0 | 22426 | 0 | 197141 | 0 | 0 | 0 |
| GREG KOZAK | |||||||||||||
| 127066 | 0 | 1000 | 0 | 755 | 0 | 13556 | 0 | 19098 | 0 | 161475 | 0 | 0 | 0 |
| JOAN M STELTMANN | |||||||||||||
| 51178 | 0 | 0 | 0 | 53219 | 0 | 5865 | 0 | 7319 | 0 | 117581 | 0 | 0 | 0 |
| KATHY LECK | |||||||||||||
| 178898 | 0 | 1000 | 0 | 783 | 0 | 18667 | 0 | 22426 | 0 | 221774 | 0 | 0 | 0 |
| ARLENE MAYZEL | |||||||||||||
| 132341 | 0 | 1000 | 0 | 765 | 0 | 13979 | 0 | 14385 | 0 | 162470 | 0 | 0 | 0 |
| MALCOLM DOUGLAS | |||||||||||||
| 155613 | 0 | 1000 | 0 | 842 | 0 | 16404 | 0 | 20357 | 0 | 194216 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Severance or change-of-control payment | Identifier |
| Return Reference | Schedule J, Part I, Line 4a | ReturnReference |
| Explanation | JOAN STELTMANN LEFT THE ORGANIZATION IN APRIL 2010 AND RECEIVED A SEVERANCE PAYMENT OF $48,402. | Explanation |
Schedule L IRS990ScheduleL
Form990 Schedule L Part IV Form990ScheduleLPartIV
Name Of Interested Person NameOfInterestedPerson
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BARBARA WANG | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship | SPOUSE OF CURTIS WANG, VP OF MARKETING & ADMISSIONS | Relationship |
| Amount Of Transaction | 14047 | AmountOfTransaction |
| Description Of Transaction | INDEPENDENT CONTRACTOR ARRANGEMENT | DescriptionOfTransaction |
| Sharing Of Revenues | false | SharingOfRevenues |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (7 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Review of form 990 by governing body | Form 990, Part VI, Section B, Line 11b | THE FORM 990 IS REVIEWED BY MEMBERS OF THE FINANCE AND AUDIT COMMITTEE BEFORE IT IS FILED. AT THE TIME OF THIS REVIEW OUR PROFESSIONAL TAX PREPARER GUIDES THE COMMITTEE THROUGH EACH SECTION OF THE FORM AND ANSWERS QUESTIONS THAT THE COMMITTEE MAY HAVE. A FINAL COPY IS PROVIDED TO ALL BOARD MEMBERS AFTER THE RETURN IS FILED WITH THE IRS. THE FINANCE AND AUDIT COMMITTEE IS MADE UP OF MEMBERS, ALL OF WHOM HAVE A FINANCIAL BACKGROUND, AND CAN UNDERSTAND AND CAN INTERPRET FINANCIAL STATEMENTS. |
| Conflict of interest policy | Form 990, Part VI, Section B, Line 12c | AS A CONDITION OF HIRE, AND ANNUALLY THEREAFTER, ALL FULL-TIME AND PART-TIME EMPLOYEES ARE REQUIRED TO READ AND SIGN A CONFIDENTIALITY & CONFLICT OF INTEREST AGREEMENT. IF A CONFLICT OF INTEREST IS IDENTIFIED, THE V.P. - HR, V.P. - FINANCE, AND ALL OTHER PARTIES INVOLVED WILL DISCUSS THE ISSUE AND WILL: A. DOCUMENT THE CONTROLS THAT WILL BE FOLLOWED TO ACHIEVE COMPLIANCE, OR B. TERMINATE THE ARRANGEMENT IF SUFFICIENT CONTROLS CANNOT BE PUT INTO PLACE TO ACHIEVE COMPLIANCE. THE SIGNED AGREEMENT WILL BE PLACED IN THE EMPLOYEE'S PERSONNEL FILE. EMPLOYEES WHO IMPROPERLY USE OR DISCLOSE CONFIDENTIAL BUSINESS INFORMATION OR WHO FAIL TO DISCLOSE A CONFLICT OF INTEREST FROM WHICH HE/SHE OR A MEMBER OF HIS/HER FAMILY AS DEFINED ABOVE COULD GAIN SUBSTANTIAL BENEFIT WILL BE SUBJECT TO CORRECTIVE ACTION, UP TO AND INCLUDING IMMEDIATE TERMINATION OF EMPLOYMENT, EVEN IF THEY DO NOT ACTUALLY BENEFIT FROM DISCLOSURE OF THE INFORMATION OR LACK OF DISCLOSURE OF A CONFLICT OF INTEREST. ALL SITTING BOARD MEMBERS ARE REQUIRED ANNUALLY TO SIGN A CONFLICT OF INTEREST STATEMENT WHICH IS REVIEWED BY THE PRESIDENT. BOARD MEMBERS ARE REQUESTED TO COMPLETE 11 QUESTIONS THAT COVER VARIOUS POSSIBLE CONFLICTS OF INTEREST, INCLUDING THOSE REQUIRED TO BE DISCLOSED IN THE FORM 990. THIS PROCESS IS FACILITATED BY THE SCHOOL'S PROFESSIONAL TAX PREPARERS. ALL DISCLOSED CONFLICTS ARE REVIEWED BY MANAGEMENT AND ITS PROFESSIONAL TAX PREPARERS TO ENSURE AN APPROPRIATE RESPONSE ON THE FORM 990. |
| Process used to establish compensation of top management official | Form 990, Part VI, Section B, Line 15a | LAKE FOREST GRADUATE SCHOOL OF MANAGEMENT'S (LFGSM) COMPENSATION AND HUMAN RESOURCES COMMITTEE OF THE BOARD OF DIRECTORS REQUESTS AN EXTERNAL INDEPENDENT REVIEW OF COMPENSATION AND BENEFITS PROVIDED TO THE SCHOOLS "INTERESTED PERSONS" (DISQUALIFIED INDIVIDUALS) TO ASSIST THE COMMITTEE IN ITS ASSESSMENT OF THE REASONABLENESS OF THEIR COMPENSATION COMPARED TO MARKET DATA ASSEMBLED BY AN INDEPENDENT THIRD PARTY. THE INDEPENDENT THIRD PARTY'S PROCESSES FOR COLLECTING AND ASSEMBLING MARKET DATA IS CONSISTENT WITH THE REBUTTABLE PRESUMPTION CHECKLIST USED BY THE INTERNAL REVENUE SERVICE IN CONDUCTING COMPENSATION REVIEWS AS WELL AS CONTEMPORARY COMPENSATION PRACTICES. ALL MARKET DATA ARE ASSEMBLED FROM REPUTABLE, COMMERCIALLY-AVAILABLE SURVEYS, AS WELL AS PEER REVIEW FROM IRS FORM 990 SUBMISSIONS. THIS REPORT PRESENTS AN OVERVIEW OF THE TOTAL CASH AND BENEFITS PROVIDED TO THE LEADERSHIP STAFF OF COMPARABLE NOT-FOR-PROFIT COLLEGES AND UNIVERSITIES, OTHER NON-PROFIT ORGANIZATIONS, HEALTHCARE ORGANIZATIONS, AND SIMILAR FOR-PROFIT ORGANIZATIONS. THE COMPARABILITY OF MULTIPLE SURVEY SOURCES FOLLOWS THE EXECUTIVE COMPENSATION PHILOSOPHY ADOPTED BY THE LFGSM BOARD IN 2003 AND REVISED IN 2004 AND 2009. THIS WIDER RANGE OF ORGANIZATIONS BETTER REFLECTS WHERE LFGSM IS MOST LIKELY TO RECRUIT FROM OR LOSE ITS SENIOR TALENT TO. TO CLEARLY UNDERSTAND THE MARKETPLACE, ALL COMPENSATION DATA ARE DIVIDED INTO TWO PARTS: ONE DATA SET MATCHING INFORMATION AS CLOSE TO THE CURRENT SIZE OF LFGSM AS POSSIBLE. IT SHOULD BE NOTED THAT THE SMALLEST SIZE "CUT" OF DATA IN PUBLISHED SOURCES MAY BE LARGER THAN THE CURRENT REVENUE OR EMPLOYEE SIZE OF LFGSM, BUT IT IS THE SMALLEST AVAILABLE DATA. THE SECOND SET OF DATA MATCHES INFORMATION ONE "CUT" HIGHER THAN THE SMALLEST SIZE. THIS 2 "CUT" ANALYSIS SUPPORTS THE CURRENT COMPENSATION PHILOSOPHY. BOTH DATA SETS ARE INCLUDED TO PROVIDE THE EXECUTIVE COMMITTEE WITH AN UNDERSTANDING OF THE MARKETPLACE. THE METHODOLOGY OF THE STUDY IS DESCRIBED FOLLOWING THE OVERVIEW SECTION. THE MARKET ANALYSIS SECTION PRESENTS THE MARKET COMPARISON INFORMATION FOR BASE AND ACTUAL CASH COMPENSATION RECEIVED BY THE EIGHT INCUMBENT MANAGEMENT BOARD MEMBERS. THE REVIEW INCLUDES COMPARISONS TO THE MARKET'S 50TH PERCENTILE FOR BOTH BASE AND TOTAL COMPENSATION USING THE SMALLEST SIZE (APPROXIMATING LFGSM) AND ONE DATA SIZE LARGER. THE BENEFIT ANALYSIS SECTION PRESENTS AN ANALYSIS OF THE BENEFITS AND PREQUISITES RECEIVED BY THE LFGSM MANAGEMENT BOARD. THE REPORT CONCLUDES WITH THE RECOMMENDATIONS SECTION. THE COMPARISON OF TOTAL COMPENSATION IS FOR THE EXECUTIVE STAFF (7) WHO ARE ACTIVELY EMPLOYED BY LFGSM AS OF MARCH 2010. THE SALARY SURVEYS USED OBTAIN DATA FROM NOT-FOR-PROFIT EDUCATIONAL ORGANIZATIONS AND APPLICABLE NON-PROFIT AND FOR-PROFIT SERVICE INDUSTRIES. DATA IS EXTRACTED FROM BONUS ELIGIBLE INCUMBENTS. THE EXECUTIVE POSITIONS ARE MARKET MATCHED USING THE FOLLOWING CRITERIA TO BE CONSISTENT WITH THE REBUTTABLE PRESUMPTION CHECKLIST OF THE IRS. DATA IS COLLECTED FROM REPUTABLE, COMMERCIALLY AVAILABLE MARKET DATA. DATA IS COLLECTED FROM ORGANIZATIONS SIMILAR IN REVENUE AND NUMBER OF EMPLOYEES TO LFGSM OR THE NEXT LARGEST "SIZE" IN THE SURVEY DATA. DATA IS GATHERED FROM THE ENTIRE U.S., AS THESE POSITIONS WOULD BE RECRUITED FROM A NATIONAL POOL OF APPLICANTS. DATA WAS INDEXED TO THE CHICAGO AREA TO BETTER REFLECT THE WAGE AND SALARY RATES FOR THE AREA. MARKET MATCHES ARE DETERMINED BY JOB RESPONSIBILITY, NOT JOB TITLE ALONE. SEVERAL EXECUTIVE STAFF MEMBERS HAVE DIVERSE RESPONSIBILITIES. IN THESE CASES THE DATA MAY BE BLENDED TO REFLECT THE ADDED ACCOUNTABILITIES. THIS PROCESS WAS LAST UNDERTAKEN IN MARCH 2011 AND IS PERFORMED EVERY 3 YEARS. THE NEXT PROJECTED YEAR THE PROCESS WILL BE UNDERTAKEN IS MARCH 2014. THE POSITIONS FOR WHICH THE PROCESS WERE USED WERE THE PRESIDENT AND CEO, VP-EDUCATIONAL PROGRAMS AND SERVICES,VP-R & D AND INNOVATION, EVP MARKETING, ADMISSIONS, AND CORPORATE SALES, VP HR & FUNDRAISING, VP INFORMATION TECHNOLOGY, AND VP-FINANCE & CFO. |
| Process used to establish compensation of other officers/key employees | Form 990, Part VI, Section B, Line 15b | NARRATIVE WAS COMBINED WITH LINE 15A NARRATIVE; SEE ABOVE RESPONSE. |
| Public Disclosure | Form 990, Part VI, Section C, Line 19 | FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICIES ARE NOT REQUIRED DISCLOSURES PURSUANT TO INTERNAL REVENUE CODE (IRC) SECTION 6104. THESE DOCUMENTS ARE NOT AVAILABLE TO THE PUBLIC AT THIS TIME. |
| PART VII | COMPENSATION PAID TO BOARD MEMBERS | COMPENSATION PAID TO BOARD MEMBERS IS PROVIDED IN EXCHANGE FOR SERVICES AS FACULTY MEMBERS. THESE PERSONS ARE NOT COMPENSATED IN THEIR POSITION AS BOARD MEMBERS. |
| Other changes in net assets or fund balances | Form 990, Part XI, Line 5 | NET UNREALIZED GAINS (LOSSES) ON INVESTMENTS - 582548; |
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