2011-02-10T17:33:42-06:00 2010-06-30 HOOD & STRONG LLP CPAS 100 FIRST STREET 14th FLOOR SAN FRANCISCO CA 94105 990 2009-07-01 941585735 GOLDEN GATE UNIVERSITY GOLD 4154427859 536 MISSION STREET SAN FRANCISCO CA 94105 Robert D Hite 4154427859 2011-02-09 1 4157810793 2009 2016-02-24 21:20:13Z Robert D Hite 536 MISSION STREET SAN FRANCISCO CA 94105 123439231 0 X www.ggu.edu X 1923 CA tO CHANGE THE LIVES OF ADULT STUDENTS THROUGH PROFESSIONAL PRACTICE DEGREEs and CERTIFICATIONs. 31 31 1182 85 0 0 2822924 1759787 54026506 59327539 -93508 2388206 789925 1203368 57545847 64678900 4258673 4734515 0 34076381 35999019 158889 162089 1406063 21858715 18043998 60352658 58939621 -2806811 5739279 130032349 139750600 53441316 52738200 76591033 87012400 GOLDEN GATE UNIVERSITY (THE "UNIVERSITY") WAS FOUNDED IN 1901 AND OFFERS UNDERGRADUATE AND GRADUATE PROGRAMS OF HIGHER EDUCATION THROUGH COURSES OFFERED IN NORTHERN CALIFORNIA, LOS ANGELES, CALIFORNIA, AS WELL AS IN SEATTLE, WASHINGTON, AND THROUGH THE INTERNET. THE UNIVERSITY IS AN INDEPENDENT CENTER OF IN-PERSON AND VIRTUAL LEARNING THAT AIMS TO CHANGE THE LIVES OF ADULT STUDENTS THROUGH PROFESSIONAL PRACTICE DEGREE, CERTIFICATION AND LIFE-LONG LEARNING PROGRAMS IN BUSINESS, LAW, TAX, TECHNOLOGY AND RELATED PROFESSIONS. 0 0 50033051 4734515 59544854 GGU OFFERS UNDERGRADUATE AND GRADUATE PROGRAMS OF HIGHER EDUCATION THROUGH COURSES OFFERED IN CALIFORNIA (NORTHERN CALIFORNIA AND LOS ANGELES), WASHINGTON (SEATTLE), AND THE INTERNET. 50033051 1 1 0 0 0 0 0 0 1 1 1 0 1 0 1 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 135 0 1 1182 1 0 0 0 0 0 1 1 0 0 0 1 1 31 31 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X Robert D Hite CFO 4154427859 GOLDEN GATE UNIV536 Mission St SAN FRANCISCO CA 94105 LES SCHMIDT 1.00 X 0 0 0 dana waldman 1.00 X 0 0 0 mark s anderson 1.00 X 0 0 0 lee baxter 1.00 X 0 0 0 lyDIA BEEBE 1.00 X 0 0 0 curtis burr 1.00 X 0 0 0 MARK BURTON jr 1.00 X 0 0 0 ann moller caen 1.00 X 0 0 0 cameron carlson 1.00 X 0 0 0 chip conradi 1.00 X 0 0 0 tracey edwards 1.00 X 0 0 0 Steven M Kinsella 1.00 X 0 0 0 michael goldsmith 1.00 X 0 0 0 jp harbour 1.00 X 0 0 0 bruce w hart 1.00 X 0 0 0 mary huss 1.00 X 0 0 0 madelyn mallory 1.00 X 0 0 0 randy merk 1.00 X 0 0 0 linDA MONTGOMERY 1.00 X 0 0 0 ted mitchell 1.00 X 0 0 0 jim o'neil 1.00 X 0 0 0 Rosemary Martin 1.00 X 0 0 0 pAUL REGAN 1.00 X 0 0 0 dan riley 1.00 X 0 0 0 barbara roberts 1.00 X 0 0 0 SUTHEE TRITASAVIT 1.00 X 0 0 0 Roi L ewell 1.00 X 0 0 0 Bruce Braden 1.00 X 0 0 0 dan angel 37.50 X 350745 0 18845 BARBARA KARLIN 37.50 X 200436 0 33787 jon sylvester 37.50 X 201330 0 31915 ROBERT D HITE 37.50 X 213215 0 13338 peter keane 37.50 X 185387 0 12202 ALAN RAMO 37.50 X 171649 0 20873 RACHEL VAN CLEAVE 37.50 X 181058 0 10296 Mary Canning 37.50 X 161304 0 18481 Terrence Connelly 37.50 X 165511 0 13795 Hamid Shomali 37.50 X 162891 0 13805 Kimberly Stanley 37.50 X 159443 0 15884 ELIZABETH BRADY 37.50 X 152579 0 16011 Philip Friedman 37.50 X 152708 0 23389 2458256 0 242621 77 1 1 0 cahill contractors incorporated 425 california street san FRANCISCO CA 94104 building contractor 3441305 moRTAR ADVERTISING LLC 25 maiden lane 6th floor SAN FRANCISCO CA 94108 marketing 770788 ncs pearson 13036 COLLECTION CENTER DRIVE CHICAGO IL 60693 software support 454943 quest po box 41039 sacramento CA 95841 computer support 446264 SECURITAS SECURITY 120 HOWARD ST STE 640 SAN FRANCISCO CA 94105 SECURITY 367288 15 681 225743 1533363 1759787 TUITION AND FEES 611710 59327539 59327539 59327539 1517049 1517049 103539 103539 103539 103539 59626560 100 58755503 871057 100 871157 871157 2590 681 4828 -2238 -2238 misCELLANEOUS REV. 611710 584752 584752 REIMBURSED ATTY. FEES 611710 300000 300000 SEOG/FWSP/PERKINS 611710 83377 83377 133938 133938 1102067 64678900 59544854 0 3374259 4734515 4734515 3283096 2442828 685224 155044 25335778 21001516 3832085 502177 1404121 1088553 274589 40979 3923606 3041796 767299 114511 2052418 1678085 326293 48040 134565 36051 98424 90 165417 1233 164184 162089 162089 202443 202443 869537 860323 3080 6134 2519214 2428775 23916 66523 1062338 813061 160806 88471 717542 618984 89971 8587 3615063 3427624 106505 80934 643951 589214 32507 22230 297540 228203 57953 11384 1991389 1768470 189656 33263 3431917 3096601 277089 58227 93902 9040 84862 LIBRARY EXPENSE 1716064 1713781 2283 0 Bank Charges 363474 251446 104734 7294 FACULTY & STUDENT DEVEL 116734 116716 0 18 BAD DEBT 53598 47529 6069 0 Misc. OPERATING 49310 38707 10535 68 58939621 50033051 7500507 1406063 1399 1390 7966861 8586804 1175089 712219 1923297 2002266 150000 150000 2901002 2771676 764720 855757 106407349 35151374 65564520 71255975 45898166 49766968 3687295 3647545 130032349 139750600 7567284 7293312 202985 183346 41243025 40592389 4428022 4669153 53441316 52738200 X 53017581 62682444 7545582 7923829 16027870 16406127 76591033 87012400 130032349 139750600 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 25775252 20639103 6734026 3382397 49765984 31480584 399943 -4472371 1632904 25775252 0.54070 0.32640 0.13290 0 0 2597099 2597099 9116623 7173190 1943433 71311354 13682407 57628947 21608429 14295777 7312652 1773844 1773844 71255975 US GOVERNMENT GRANT REFUNDABLE 1999130 CHARITABLE REMAINDER TRUST RESERVE 398163 INTEREST PAYABLE 539648 LEASE ABANDONMENT LIABILITY 521687 Capital Lease & Other Liabilities 1210525 4669153 64678900 58939621 5739279 4704386 -22298 4682088 10421367 64724194 4704386 -4756813 -52427 64776621 194468 -292189 -97721 64678900 54302827 292189 292189 54010638 194468 4734515 4928983 58939621 Part V, Line 4: Description of Intended Use of Endowment Funds: THE UNIVERSITY USES THE INCOME FROM THE ENDOWMENT FUND PRIMARILY FOR SCHOLARSHIPS ACCORDING TO THE DONOR'S RESTRICTION. SMALL AMOUNTS ARE ALSO USED FOR OPERATING EXPENSES AT DESIGNATED SCHOOLS WITHIN THE UNIVERSITY AND FOR FACULTY SUPPORT AS DESIGNATED BY THE DONOR. Part X: Description of Uncertain Tax Positions Under FIN 48: The principal activities of the University are exempt from income taxes under provisions of the U.S. Internal Revenue Code, Section 501(c)(3) and the California Tax Code. The University's current accounting policy is to evaluate uncertain tax positions. Accordingly, a loss contingency is recognized when it is probable that a liability has been incurred as of the date of the financial statements and the amount of the loss can be reasonably estimated. The amount recognized is subject to estimate and management judgment with respect to the likely outcome of each uncertain tax position. Management believes that there are no uncertain tax positions. Part XI, Line 8 - Other Adjustments: Actuarial Change in contributions received: -22298. Part XII, Line 2d - Other Adjustments: RECLASS OF SCHOLARSHIPS NETTED WITH TUITION: -4734515. CHANGE IN SPILT INTEREST TRUST: -22298. Part XII, Line 4b - Other Adjustments: miscellaneous expenses: -292189. Part XIII, Line 2d - Other Adjustments: miscellaneous expenses: 292189. Part XIII, Line 4b - Other Adjustments: RECLASS OF SCHOLARSHIPS NETTED WITH TUITION: 4734515. 1 1 1 Newspaper media displays include a statement regarding the racial nondiscriminatory policy of the university in the recruitment of students. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 GOLDEN GATE UNIVERSITY ASSISTS ITS STUDENTS THROUGH THE OPERATION OF COMPREHENSIVE FINANCIAL AID PROGRAMS. THE FINANCIAL AID PROGRAMS INCLUDE A FEDERAL REVOLVING LOAN PROGRAM ADMINISTERED BY THE UNIVERSITY. WHEN A STUDENT CEASES TO BE ENROLLED IN THE UNIVERSITY (AND AFTER A GRACE PERIOD), THE STUDENT IS EXPECTED TO BEGIN MAKING PAYMENTS WITH THE ULTIMATE GOAL OF RETURNING THE LOAN FUNDS. UNDER AN AGREEMENT WITH THE FEDERAL GOVERNMENT, PORTIONS OF THE PRINCIPAL AND INTEREST DUE ON STUDENT NOTES RECEIVABLE MAY BE CANCELLED UNDER CERTAIN CONDITIONS. THE UNIVERSITY IS REIMBURSED BY THE FEDERAL GOVERNMENT FOR SUBSTANTIALLY ALL OF THE INSTITUTION'S PORTION OF THE CANCELLATIONS. IN ADDITION TO THE FUNDS RECEIVED UNDER THE REVOLVING LOAN PROGRAM, THE UNIVERSITY RECEIVED DIRECTLY OR ACTS AS A PASS-THROUGH AGENT FOR A VARIETY OF FEDERAL AID PROGRAMS, INCLUDING LOANS AND GRANTS. 1 1 Europe 0 0 Program services Summer Law Program 205102 South Asia 0 0 Grants Tuition Scholarships 3713 0 0 208815 Procedure for Monitoring Grants Outside the U.S.: Schedule F, Part I, Line 2: SCHOLARSHIP FUNDS ARE USED TO OFFSET THE COST OF TUITION. MONEY IS NOT AVAILABLE TO PERSONS NOT ENROLLED AT THE UNIVERSITY. X X X X X X 1 Ruffalo Cody & Associates Inc TELEPHONE CAMPAIGN 0 123000 84462 38538 Janet Greenberg GRANT WRITER 0 95000 45100 49900 Marts & Lundy CAPITAL CAMPAIGN CONSULTANT 0 0 32527 -32527 218000 162089 55911 AK AL AR AZ CA CO DE FL GA HI ID IN IA KS KY LA ME MD MA MH MI MO MS MP MT AL NV NH NE NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT WV WA WI WY MN 1 TUITION SCHOLARSHIP 928 4734515 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: SCHOLARSHIP FUNDS ARE USED TO OFFSET THE COST OF TUITION. MONEY IS NOT AVAILABLE TO PERSONS NOT ENROLLED AT THE UNIVERSITY. X X 0 0 0 0 0 0 0 0 0 dan angel 320745 0 30000 0 0 0 17150 0 1695 0 369590 0 0 0 BARBARA KARLIN 190436 0 10000 0 0 0 14310 0 19477 0 234223 0 0 0 jon sylvester 201330 0 0 0 0 0 12291 0 19624 0 233245 0 0 0 ROBERT D HITE 203215 0 10000 0 0 0 13338 0 0 0 226553 0 0 0 peter keane 185387 0 0 0 0 0 12202 0 0 0 197589 0 0 0 ALAN RAMO 169149 0 2500 0 0 0 12026 0 8847 0 192522 0 0 0 RACHEL VAN CLEAVE 181058 0 0 0 0 0 10296 0 0 0 191354 0 0 0 Mary Canning 156304 0 5000 0 0 0 10815 0 7666 0 179785 0 0 0 Terrence Connelly 160511 0 5000 0 0 0 11252 0 2543 0 179306 0 0 0 Hamid Shomali 162891 0 0 0 0 0 7426 0 6379 0 176696 0 0 0 Kimberly Stanley 159443 0 0 0 0 0 8852 0 7032 0 175327 0 0 0 ELIZABETH BRADY 142579 0 10000 0 0 0 9985 0 6026 0 168590 0 0 0 Philip Friedman 152708 0 0 0 0 0 10866 0 12523 0 176097 0 0 0 California Educational Facilities Authority 521705592 2005-05-01 15000000 TO ACQUIRE, CONSTRUCT AND RENOVATE UNIVERSITY FACILITIES. 0 0 california Educational Facilities Authority 521705592 2001-10-18 20000000 tO ACQUIRE, CONSTRUCT AND RENOVATE UNIVERSITY FACILITIES. 0 0 13981314 863025 163800 21835827 2008 0 0 1 1 29360000 2040225 544672 20279157 2004 1 1 1 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 First Union National Bank 30.000000000000 1 0 0 PHILIP FRIEDMAN RESIDENCE LOAN X 150000 150000 0 1 1 150000 Form 990, Part VI, Section B, line 11 GGU'S AUDITOR COMPLETES THE FORM 990 FOR THE UNIVERSITY. THE CONTROLLER SUBMITS THE FORM 990 TO THE CFO FOR REVIEW AND DISCUSSION. AS NEEDED, THE DISCUSSION IS HELD WITH THE AUDITORS AND REVISIONS ARE MADE. THE FINAL DRAFT OF THE 990 SHALL BE POSTED TO THE BOARD OF TRUSTEES INTRANET GGU PAGE AND A MESSAGE IS COMMUNICATED TO THE TRUSTEES THAT THE FINAL DRAFT FORM 990 IS AVAILABLE FOR REVIEW. AUDIT COMMITTEE MEMBERS ARE ASKED TO REVIEW THE FORM 990 PRIOR TO THE NEXT AUDIT COMMITTEE MEETING. DURING THE AUDIT COMMITTEE MEETING, THE FORM 990 SHALL BE DISCUSSED AND REVIEWED BY THE COMMITTEE MEMBERS, THE AUDITORS, AND GGU STAFF. IF NECESSARY, ANY REVISIONS ARE MADE. IF REVISIONS ARE MADE, THE REVISED FORM 990 SHALL BE POSTED TO THE WEBSITE AND A MESSAGE IS COMMUNICATED THAT IT IS AVAILABLE FOR REVIEW. ALL DISCUSSION IS DOCUMENTED IN THE AUDIT COMMITTEE MEETING MINUTES. ONCE THE CFO CONFIRMS THAT THE AUDIT COMMITTEE HAS REVIEWED THE FORM 990, THE AUDITORS WILL BE NOTIFIED THAT THE FORM 990 IS READY TO BE SUBMITTED TO THE IRS. THE AUDITORS COORDINATE THE FILING OF THE FORM 990. THE SIGNED 990 AND THE PUBLIC FILE VERSION ARE DISTRIBUTED TO THE UNIVERSITY. Form 990, Part VI, Section B, line 12c Each new member of the Board of Trustees will receive, in his or her orientation package, a copy of the Golden Gate University Conflict of Interest Policy accompanied by the Conflict of Interest Policy Questionnaire. Prior to the new trustee's induction into the Board, he or she will sign and date the form, and submit it to the Secretary to the Board for inclusion in Board records. At the final board meeting each year, all Trustees shall complete a new Conflict of Interest Policy Questionnaire, and submit it to the Secretary to the Board for inclusion in Board records. Board members who fail to submit an updated questionnaire may be subject to expulsion from Golden Gate University's Board of Trustees. Each new full-time employee will receive, in his or her orientation package, a copy of the Golden Gate University Conflict of Interest Policy accompanied by the Conflict of Interest Policy Questionnaire. The new employee will sign and date the Questionnaire within 30 days of his or her date of hire and submit it to the Human Resources Department. The questionnaire will be filed in the employee's official personnel file maintained by the Human Resources Department. By December 1 of each year, all Golden Gate University officers, full-time faculty employees, and full-time director-level employees will receive an e-mail notification from the Human Resources Department containing a digital copy of the Conflict of Interest Policy and a Questionnaire for the employee to review, complete and submit to the Human Resources Department no later than December 31 of that year. Employees who fail to submit an updated questionnaire may be subject to disciplinary action, up to and including termination of employment. Form 990, Part VI, Section B, line 15 All Officers - The executive committee will administer this executive compensation policy by: - Assessing the nature and scope of each officer position - Assessing the basis for which compensation is paid to individuals holding such positions including unique background, experience, personal skills, exceptional performance, additional duties and abilities, and challenges facing the organization that require the use of such attributes or skills - Obtaining appropriate and comparable compensation market data including data from the following: - Similarly situated organizations, both for-profit and tax-exempt, for functionally comparable positions - The availability of similar specialties in the geographic area - Independent compensation surveys by nationally recognized independent firms Vice Presidents - The Board of Trustees authorizes the President to establish compensation recommendations for the Vice President of Academic Affairs and the Vice President of Business Affairs based on his assessment of each individual's performance and scope of the position and comparable compensation market data as described above. The executive committee of the board will then meet with the President to discuss and review his recommendations, and approve, request additional information or amend the recommendation on the basis of their discussions. President - The executive committee meets independent of the President to discuss performance relative to the position description. During these deliberations, the committee also considers input obtained from other board members, staff, faculty, and other informed community leaders. Once a consensus is reached regarding performance, a similar discussion is held concerning compensation relative to annual benchmark and established objectives. The committee presents its findings and recommendations, in an executive session without the President present, to the full board for review and approval. The committee and/or the board chair (a member of the committee) then meet with the President to discuss and document strengths, weaknesses, and goals for the upcoming year. Compensation for the upcoming year is also discussed and documented. Form 990, Part VI, Section C, line 19 GGU MAKES THE STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 2C THE ROLE OF THE AUDIT COMMITTEE THE ROLE AND PROCESS OF THE AUDIT COMMITTEE HAS NOT CHANGED FROM THE PRIOR YEAR.