2026-04-06T10:43:32-05:00 2025-05-31 390859910 BAKER TILLY ADVISORY GROUP LP 225 S 6TH ST 2300 MINNEAPOLIS MN 55402 990 2024-06-01 420680466 LUTHER COLLEGE LUTH 5633871015 700 COLLEGE DRIVE DECORAH IA 52101 PATRICIA S HETRICK VP FOR FINANCE & ADMIN. 5633871507 2026-04-02 1 1 KAREN A GRIES P00078514 6128764500 2026-03-30 2024 2025-03-06 01:10:19Z BRADLEY M CHAMBERLAIN 700 COLLEGE DRIVE DECORAH IA 52101 137603246 0 X WWW.LUTHER.EDU X 1865 IA ON A CAMPUS OF MORE THAN 800 ACRES ALONG THE BANKS OF THE UPPER IOWA RIVER IN DECORAH, IOWA, LUTHER IS A TRUE RESIDENTIAL CAMPUS, WITH 96 PERCENT OF STUDENTS LIVING ON CAMPUS AND NEARLY 95 PERCENT OF FACULTY CHOOSING TO LIVE WITHIN FIVE MILES OF IT. LUTHER'S STUDENT BODY INCLUDES 1,369 MEN AND WOMEN (47 PERCENT AND 50 PERCENT, RESPECTIVELY) FROM 35 STATES AND 76 FOREIGN COUNTRIES. U.S. STUDENTS OF COLOR CONSTITUTE 13.0 PERCENT OF THE STUDENT BODY. APPROXIMATELY 70 PERCENT OF LUTHER STUDENTS VOLUNTEER DURING THEIR TIME HERE, EXHIBITING THE HIGH SERVICE ETHIC INTRINSIC TO LUTHER CULTURE. THE COLLEGE STRIVES TO BE A PLACE WHERE PEOPLE OF ALL CONVICTIONS CAN REALIZE PERSONAL, INTELLECTUAL, AND SPIRITUAL GROWTH. 23 22 1794 409 56842 7779 23411995 20682450 90582740 87735391 16207964 10623564 1959314 1731993 132162013 120773398 49711492 49739918 0 0 36979160 38202221 0 0 3599736 31457672 30581245 118148324 118523384 14013689 2250014 326653053 343571141 35057677 39264176 291595376 304306965 X FOUNDED BY THE NORWEGIAN EVANGELICAL LUTHERAN CHURCH IN 1861, LUTHER COLLEGE IS A FOUR-YEAR, RESIDENTIAL LIBERAL ARTS INSTITUTION. LUTHER WELCOMES STUDENTS OF ALL BACKGROUNDS TO ENGAGE IN A WAY OF LEARNING THAT MOVES BEYOND IMMEDIATE INTERESTS AND ENCOURAGES STUDENTS TO BUILD A LIFE OF CONSEQUENCE. AT THE HEART OF A LUTHER EDUCATION IS AN UNDERSTANDING OF THE WAY FAITH AND LEARNING INTERSECT AND IN TURN CONNECT STUDENTS TO THE LARGER WORLD. LUTHER OFFERS MORE THAN 80 MAJORS, MINORS, AND PREPROFESSIONAL PROGRAMS. 0 0 74519245 49739918 70093338 INSTRUCTION: LUTHER OFFERS 42 MAJORS, 42 MINORS AND INTERDISCIPLINARY MINORS, AND 4 PREPROFESSIONAL AND SPECIFIC PROGRAMS. LUTHER'S SIGNATURE PAIDEIA PROGRAM, AN INTERDISCIPLINARY COURSE SERIES OFFERED FOR MORE THAN 47 YEARS, HELPS INTEGRATE LEARNING AND BUILDS COMMUNITY THROUGH SHARED ACADEMIC EXPERIENCE. THE COLLEGE'S MUSIC PROGRAM, IN WHICH STUDENTS TRAIN IN PERFORMANCE, CONDUCTING, COMPOSITION, AND EDUCATION, HAS FIVE CHOIRS, TWO BANDS, THREE ORCHESTRAS AND TWO JAZZ BANDS, MANY OF WHICH TOUR NATIONALLY AND INTERNATIONALLY. A VIBRANT OFF-CAMPUS STUDENT PROGRAM DRAWS APPROXIMATELY 66% OF STUDENTS TO STUDY ABROAD PRIOR TO GRADUATION. LUTHER HAS 142 FULL-TIME FACULTY (APPROXIMATLY 92 PERCENT WITH A TERMINAL DEGREE) AND A 9.3:1 STUDENT-FACULTY RATIO. TOTAL ENROLLMENT WAS 1,369 FTE STUDENTS IN THE FALL OF 2024. 354 STUDENTS GRADUATED IN THE 2024-25 ACADEMIC YEAR. 17653789 1900718 ACADEMIC SUPPORT AND STUDENT SERVICES: THE CENTER FOR ACADEMIC ENRICHMENT PROVIDES SERVICES, BASED ON BEST PRACTICES IN LEARNING ASSISTANCE, INCLUDING NEEDS ASSESSMENT, STUDENT-TO-STUDENT TUTORING, AND ONE-ON-ONE INSTRUCTION WITH PROFESSIONAL STAFF. IN COLLABORATION WITH FACULTY AND OTHER STAFF, CAE COORDINATES SPECIALIZED SERVICES FOR STUDENTS WITH DISABILITIES, MANAGES THE ACADEMIC ALERT SYSTEM, AND SUPPORTS INITIATIVES OF THE ADVISING PROGRAM. ACADEMIC ADVISING IS DONE BY FACULTY. RESEARCH AND TECHNOLOGY SUPPORT ARE PROVIDED THROUGH AN EXTENSIVE LIBRARY PROGRAM. THE COLLEGE HAS MORE THAN 100 STUDENT ORGANIZATIONS ALONG WITH COLLEGE MINISTRIES, HEALTH SERVICES, AND RECREATION AND WELLNESS PROGRAMS. APPROXIMATELY 70% OF STUDENTS ARE ENGAGED IN WORK STUDY TO SERVE THE LUTHER COMMUNITY, GAIN IMPORTANT WORK EXPERIENCE, AND EARN MONEY TOWARD EXPENSES. 12673212 15741335 AUXILIARY ENTERPRISES: LUTHER COLLEGE MAINTAINS A RURAL RESIDENTIAL CAMPUS TO ENHANCE THE EDUCATIONAL EXPERIENCE OF THE STUDENT BODY WITH ROOM AND BOARD PROGRAMS DESIGNED TO ENCOURAGE A SPIRIT OF COLLEGIALITY AND CONVERSATION BEYOND THE CLASSROOM AND LABORATORY. IN FALL 2024, LUTHER'S RESIDENCE HALLS HOUSED 1,310 STUDENTS OR 96% OF TOTAL FALL ENROLLMENT. 1,206 STUDENTS USED THE COLLEGE'S DINING SERVICE. 549001 PUBLIC SERVICE: OFFERINGS TO THE BROADER COMMUNITY INCLUDE A COLLEGE RADIO STATION, CONFERENCES AND SEMINARS, A PERFORMING ARTS SERIES AND A VARIETY OF PROGRAMS IN THE ARTS, ATHLETICS, SCIENCES, AND LEADERSHIP DEVELOPMENT FOR HIGH SCHOOL STUDENTS.RESEARCH: THE COLLEGE RECEIVES GRANTS FOR FACULTY/STUDENT RESEARCH COLLABORATION, PARTICULARLY IN THE SCIENCES. THE COLLEGE DEDICATES SPACE, RESOURCES, AND FACULTY TIME FOR COLLABORATIVE INVESTIGATION WITH STUDENTS. RESEARCH PROJECTS ACROSS THE CURRICULUM OCCUR DURING THE ACADEMIC YEAR AND IN THE SUMMER. 549001 105395247 1 1 0 0 0 0 0 1 1 1 1 1 0 1 1 1 0 1 1 1 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 1 2671 0 1794 1 1 1 1 UK 0 0 0 1 1 0 0 0 0 0 0 X 23 22 0 0 1 0 1 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MD MI NH X PATRICIA S HETRICK 5633871015 700 COLLEGE DRIVE DECORAH IA 52101 J ROBERT PAULSON JR CHAIRPERSON 5.00 X X 0 0 0 SHANNON DUVAL VICE CHAIRPERSON 5.00 X X 0 0 0 ANN LEON SECRETARY 5.00 X X 0 0 0 JEFFERY ANDERSON REGENT 5.00 X 0 0 0 MICHAEL J ANDERSON REGENT 5.00 X 0 0 0 BRENT ASPLIN REGENT 5.00 X 0 0 0 KELLY BIRKENHOLZ REGENT 5.00 X 0 0 0 WILLIE DAVISMCKENNIE REGENT 5.00 X 0 0 0 PETER ESPINOSA REGENT 5.00 X 0 0 0 CHRIS GADE REGENT 5.00 X 0 0 0 KATHERINE JOHNSON-BECKLIN REGENT 5.00 X 0 0 0 SANDEE JOPPA REGENT 5.00 X 0 0 0 DR MARK V LARSON REGENT 5.00 X 0 0 0 FELIX MALPICA REGENT 5.00 X 0 0 0 BRADLEY MILLER REGENT 5.00 X 0 0 0 MICHAEL OSTERHOLM REGENT 5.00 X 0 0 0 CONNIE PLAEHN REGENT 5.00 X 0 0 0 ALESSANDRO RANIOLO REGENT 5.00 X 0 0 0 COREY SCHMIDT REGENT 5.00 X 0 0 0 ANJELA SHUTTS REGENT 5.00 X 0 0 0 JAMES A THOMSEN JR REGENT 5.00 X 0 0 0 LEAH VRIESMAN REGENT 5.00 X 0 0 0 JAMES YOUNG REGENT 5.00 X 0 0 0 JENIFER K WARD PRESIDENT - OUTGOING 45.00 X 413659 0 61363 BRADLEY CHAMBERLAIN PRESIDENT 45.00 X 201209 0 83023 MARY DUVALL VP FOR DEVELOPMENT 45.00 X 160673 0 45307 WILLIAM SMITH VP FOR COMMUNICATION 45.00 X 155061 0 26186 KAREN HUNT VP FOR ENROLLMENT MGT - OUTGOING 45.00 X 152407 0 8079 ROBERT CLAY CHIEF EQUITY INCLUSION OFC. AND ASST. 45.00 X 137730 0 16828 MATT BEATY VP FOR ENROLLMENT MANAGEMENT 45.00 X 102055 0 32448 PATTI HETRICK VP FOR FINANCE & ADMINISTRATION 45.00 X 114129 0 14211 JEFF WILKERSON INTERIM PROVOST 45.00 X 83631 0 13468 DAVID MITCHELL ASSISTANT PROF OF MATHMATICS & HEAD WRESTLING COACH 45.00 X 153084 0 64026 ANDREW BAILEY VP FOR FINANCE AND ADMIN. 45.00 X 111703 0 42802 ROBIN CURREY ASSOC PROVOST & DEAN OF ACADEMIC AFFAIRS 45.00 X 115173 0 30519 RICHARD BERNATZ REGISTRAR 45.00 X 119936 0 15378 LAURA BARLAMENT EXEC DIRECT OF STRATEGIC MARKETING 45.00 X 107617 0 18734 2128067 0 472372 13 0 1 0 THE OPUS GROUP 10350 BREN RD WEST MINNETONKA MN 55343 CONSTRUCTION 9898510 SODEXO INC BUFFALO SERVICE CENTER PO BOX 352 BUFFALO NY 14240 DINING SERVICES 5720399 MERIT CONTRACTING INC 4661 HADLEY VIEW COURT NE ROCHESTER MN 55906 CONSTRUCTION 2196057 WITTKIEFFER 2015 SPRING RD STE 510 OAK BROOK IL 60523 EXECUTIVE SEARCH & ADVISORY 159115 TURNER CONSTRUCTION 4200 CORPORATE DR SUITE 180 WEST DES MOINES IA 50266 CONSTRUCTION 101885 6 3925 1414490 19264035 1557793 20682450 TUITION & FEES 611310 70093338 70093338 AUXILLIARY SERVICES 721310 15741335 15741335 EDUCATIONAL ACTIVITIES 611710 1900718 1900718 87735391 4807632 56842 4750790 170899 119416 51483 51483 51483 22506314 6754 16697136 0 5809178 6754 5815932 5815932 25275 3925 13296 11979 11979 FACILITY USAGE FEES 611310 550570 550570 SUMMER PROGRAMS 611310 517398 517398 MISCELLANEOUS REVENUE 611310 357808 357808 242755 242755 1668531 120773398 87735391 56842 12298715 49739918 49739918 2007983 759837 1037287 210859 26451496 21755398 3097229 1598869 1143651 922502 144061 77088 6720348 5300062 1010606 409680 1878743 1500911 259182 118650 49228 11510 37718 107664 107664 103869 103869 2445158 1459801 819929 165428 120790 7174 113616 2103358 1621895 397124 84339 62832 12813 27082 22937 2698746 2611280 43733 43733 3050339 2905227 48234 96878 1336452 1135236 94466 106750 485884 481977 1954 1953 5265464 5025300 60041 180123 943193 478756 456589 7848 DINING SERVICES 5757937 5757937 EQUIPMENT RENTAL/MAINTE 3756674 2470043 874179 412452 RESALEABLE MERCHANDISE 812420 759110 26655 26655 PROCESSING FEES 251374 149636 69646 32092 1229863 528924 697537 3402 118523384 105395247 9528401 3599736 36149185 37844494 11724560 10092227 666341 610741 1596308 1554628 479084 468212 349991 899731 201748932 149723206 52809862 52025726 143148666 147653179 65369996 70081741 1478641 1059023 12880419 21281439 326653053 343571141 7059342 9957641 193301 493432 371873 1690046 17846438 16455657 263416 314973 9323307 10352427 35057677 39264176 X 82741767 77033339 208853609 227273626 291595376 304306965 326653053 343571141 X 2250014 9993561 468014 X X 0 1 X 1 1 1 X 15483877 17094161 10722779 23411995 20682450 87395262 15483877 17094161 10722779 23411995 20682450 87395262 14526535 72868727 3342926 3921979 5022730 4996688 4921689 22206012 0 13587 0 15017 7779 36383 109637657 473075397 0.66460 0.70340 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 150 29027 X X X X 0 0 1 X 205150420 3251403 19683327 8172474 5074962 214837714 193567936 -1061620 25166126 7687881 4824141 205150420 199551642 514482 2059341 5177121 3380408 193567936 208192013 5556692 -5710536 4991503 3495024 199551642 167345433 6981968 41700130 4682807 3152711 208192013 0.09200 0.66900 0.23900 1 0 74043 589538 663581 2262564 141916825 100260832 43918557 37914317 35580750 2333567 18991645 13881624 5110021 52025726 INVESTMENT IN SUBSIDIARY 1133099 C PRIVATE EQUITY FUNDS 18971121 F HEDGE FUNDS 29104517 F FUNDS OF FUNDS 11855685 F PARTNERSHIPS, REAL ASSETS 7263155 F PRIVATE DEBT FUNDS 1754164 F 70081741 CONSTRUCTION IN PROGRESS 12182319 INTEREST RATE SWAP ASSET 301831 ACCRUED INTEREST RECEIVABLE 474311 OTHER MISCELLANEOUS RECEIVABLES 72161 CASH VALUE OF LIFE INSURANCE 5225220 FUNDS HELD IN TRUST 3025597 21281439 ANNUITIES PAYABLE 3274251 ASSET RETIREMENT OBLIGATION 4052821 DEPOSITS HELD IN CUSTODY OF OTHERS 361688 PAYROLL LIABILITIES 2274000 STUDENT DEPOSITS 336379 OTHER LIABILTIES 53288 10352427 X 81818010 9993561 1301152 11294713 70523297 103868 50146233 50250101 120773398 68920378 240780 240780 68679598 103868 49739918 49843786 118523384 PART III, LINE 4: WORKS IN THE COLLECTION INCLUDE PAINTINGS, DRAWINGS, WORKS PRODUCED THROUGH PRINT; PHOTOGRAPHIC; OR OTHER TECHNIQUES WHICH PRODUCE MULTIPLE ORIGINALS; SCULPTURE IN MEDIA; ASSEMBLAGES; TEXTILE; CERAMICS; AND UTILITARIAN OR RITUAL OBJECTS IN ANY MEDIUM WHOSE PRINCIPLE VALUE RESIDES IN THEIR AESTHETIC MERIT. THE FINE ARTS COLLECTION EXISTS TO SUPPORT THE GENERAL MISSION OF THE COLLEGE BY PROMOTING AWARENESS AND UNDERSTANDING OF A BROAD SPECTRUM OF ARTISTIC EXPRESSION THROUGH DIVERSITY IN MEDIA, CULTURE, AND HISTORICAL PERSPECTIVE. AS UNIQUE EXPRESSIONS OF THE HUMAN CONDITION, WORKS IN THE COLLECTION INVIGORATE LEARNING AND TEACHING, AND PROVIDE EXPANDED OPPORTUNITIES FOR STUDY, RESEARCH, AND INDIVIDUAL PLEASURE. PART IV, LINE 2B: STUDENT DEPOSIT ACCOUNTS ARE HELD BY THE COLLEGE FOR VARIOUS STUDENT GROUPS ON CAMPUS AND ARE SHOWN AS LIABILITIES ON THE ORGANIZATION'S BALANCE SHEET. PART V, LINE 4: LUTHER COLLEGE USES THE EARNINGS FROM ITS ENDOWMENT FUND FOR SCHOLARSHIPS, PRIZES, AWARDS, LIBRARY SUPPORT, PROGRAM SUPPORT, FACULTY SUPPORT AND RESEARCH IN ACCORDANCE WITH DONOR RESTRICTIONS WHERE APPLICABLE. PART X, LINE 2: THE COLLEGE FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE COLLEGE FOR UNCERTAIN TAX POSITIONS AS OF MAY 31, 2025 AND 2024. THE COLLEGE'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: ACTUARIAL ADJUSTMENT 783,025. RENTAL EXPENSE 119,416. SUBSIDIARY REVENUE 212,667. MATURED DEFERRED GIFT TRANSFERRED TO ENDOWMENT 186,044. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDED/UNFUNDED SCHOLARSHIPS 49,739,918. INTEREST RATE SWAP 406,315. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 119,416. SUBSIDIARY EXPENSES 121,364. PART XII, LINE 4B - OTHER ADJUSTMENTS: FUNDED/UNFUNDED SCHOLARSHIPS 49,739,918. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE COLLEGE CATALOG, VIEW BOOK, APPLICATION FOR ADMISSION, ADMISSIONS GENERAL INFORMATION BROCHURE, AND THE STUDENT HANDBOOK ALL CONTAIN THE COLLEGE'S NONDISCRIMINATORY POLICY. THESE MAJOR PUBLICATIONS ARE PROVIDED TO ALL STUDENTS THROUGHOUT THE ADMISSIONS AND ORIENTATION PROCESS. BECAUSE THE COLLEGE TYPICALLY DRAWS APPROXIMATELY 26% OF ITS STUDENTS FROM IOWA, 30% FROM MN, 9% FROM WI, 6% FROM IL, 14% FROM OUTSIDE THE 4 STATE AREA AND APPROXIMATELY 15% INTERNATIONALLY WE BELIEVE THAT WE QUALIFY FOR THE PUBLICITY EXCEPTION NOTICE PROVIDED BY SECTION 4.01(2)(B) OF REV. PROC 75-50. THE COLLEGE IS ACTIVELY COMMITTED TO PROVIDING OPPORTUNITIES TO STUDENTS FROM DIVERSE BACKGROUNDS. A COORDINATED MULTICULTURAL AND INTERNATIONAL RECRUITMENT EFFORT EXISTS, COUPLED WITH A STRONG NETWORK OF ADVOCACY AND SUPPORT FOR STUDENTS FROM DIVERSE BACKGROUNDS. AS EVIDENCE OF THE COLLEGE'S COMMITMENT, NEARLY 13% OF ITS STUDENTS ARE RACIAL MINORITY STUDENTS. SCHEDULE E, PART I, LINE 6 LUTHER COLLEGE RECEIVES AID OR ASSISTANCE FROM THE GOVERNMENT AGENCIES AND PROGRAMS AS FOLLOWS: STUDENT FINANCIAL ASSISTANCE PROGRAMS CLUSTER, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS, FEDERAL WORK STUDY PROGRAM, FEDERAL PERKINS LOAN PROGRAM, FEDERAL PELL GRANT PROGRAM, FEDERAL DIRECT LOAN PROGRAM, ROBERT C BYRD HONORS SCHOLARSHIPS, TEACHERS EDUCATION ASSISTANCE FOR COLLEGE & HIGHER EDUCATION GRANTS, IOWA TUITION GRANT, IOWA GRANT. EUROPE (INCLUDING ICELAND AND GREENLAND) 1 2 PROGRAM SERVICES RECRUITMENT AND STUDY ABROAD PROGRAMS 705873 EAST ASIA & THE PACIFIC 0 0 PROGRAM SERVICES RECRUITMENT AND STUDY ABROAD PROGRAMS 246677 CENTRAL AMERICA & CARIBBEAN 0 0 PROGRAM SERVICES RECRUITMENT AND STUDY ABROAD PROGRAMS 222820 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES RECRUITMENT AND STUDY ABROAD PROGRAMS 210483 SOUTH ASIA 0 0 PROGRAM SERVICES RECRUITMENT AND STUDY ABROAD PROGRAMS 77387 SOUTH AMERICA 0 0 PROGRAM SERVICES RECRUITMENT AND STUDY ABROAD PROGRAMS 33237 NORTH AMERICA 0 0 PROGRAM SERVICES RECRUITMENT AND STUDY ABROAD PROGRAMS 26851 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES RECRUITMENT AND STUDY ABROAD PROGRAMS 16053 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 18942287 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 2565509 1 2 0 0 1 2 1539381 21507796 23047177 1 0 0 1 1 0 SCHEDULE F, PART IV, LINE 4: THE COLLEGE INVESTS IN PARTNERSHIPS THAT HOLD DIRECT OR INDIRECT INTERESTS IN PASSIVE FOREIGN INVESTMENT COMPANIES. THE INVESTMENT PARTNERSHIPS HAVE PROPERLY FILED FORM 8621, OR THE UNDERLYING INVESTMENTS DID NOT GENERATE ANY UNRELATED BUSINESS INCOME. UNDER THESE FACTS, IT IS NOT NECESSARY FOR THE COLLEGE TO FILE FORM 8621. SCHEDULE F, PART IV, LINE 5: THE COLLEGE INVESTS IN PARTNERSHIPS THAT HOLD DIRECT OR INDIRECT INTERESTS IN FOREIGN PARTNERSHIPS. HOWEVER, THE COLLEGE DOES NOT MEET THE FILING REQUIREMENTS OF FORM 8865. GOLF OUTING 29200 3925 25275 11710 217 1369 29200 3925 25275 11710 217 1369 13296 11979 1 MERIT-BASED STUDENT FINANCIAL ASSISTANCE 522 36808544 NEED-BASED STUDENT FINANCIAL ASSISTANCE 647 7915193 INTERNATIONAL STUDENT FINANCIAL ASSISTANCE 204 5016181 PART I, LINE 2: STUDENTS RECEIVING SCHOLARSHIPS AND FELLOWSHIPS ARE DETERMINED BY THE OFFICE OF FINANCIAL AID THROUGH CAREFUL STUDY OF THE INFORMATION ON THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA), THE STUDENT'S ACADEMIC RECORD, TEST SCORES, AND RECOMMENDATIONS. DETAILED RECORDS AND STATISTICS ARE MAINTAINED BY THE OFFICE OF FINANCIAL AID AND THE OFFICE OF ASSESSMENT AND INSTITUTIONAL RESEARCH IN REGARDS TO ALL FINANCIAL AID AWARDED TO STUDENTS OF THE COLLEGE, INCLUDING GRANTS AND SCHOLARSHIPS. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 JENIFER K WARD PRESIDENT - OUTGOING 383159 0 0 0 30500 0 20888 0 40475 0 475022 0 0 0 BRADLEY CHAMBERLAIN PRESIDENT 171848 0 0 0 29361 0 10486 0 72537 0 284232 0 0 0 DAVID MITCHELL ASSISTANT PROF OF MATHMATICS & HEAD WRESTLING COACH 141676 0 0 0 11408 0 3468 0 60558 0 217110 0 0 0 MARY DUVALL VP FOR DEVELOPMENT 137673 0 0 0 23000 0 9050 0 36257 0 205980 0 0 0 WILLIAM SMITH VP FOR COMMUNICATION 138954 0 0 0 16107 0 8053 0 18133 0 181247 0 0 0 KAREN HUNT VP FOR ENROLLMENT MGT - OUTGOING 147870 0 0 0 4537 0 7562 0 517 0 160486 0 0 0 ROBERT CLAY CHIEF EQUITY INCLUSION OFC. AND ASST. 137730 0 0 0 0 0 6999 0 9829 0 154558 0 0 0 ANDREW BAILEY VP FOR FINANCE AND ADMIN. 107738 0 0 0 3965 0 6604 0 36198 0 154505 0 0 0 PART I, LINE 1A LUTHER COLLEGE PROVIDES A HOUSE, CLEANING SERVICE AND UTILITIES FOR THE PRESIDENT OF THE COLLEGE. THESE BENEFITS ARE LISTED IN THE WRITTEN COMPENSATION POLICY FOR THE COLLEGE AND ARE ALSO IN THE WRITTEN EMPLOYMENT CONTRACT OF THE PRESIDENT. THE HOUSING AND UTILITIES ARE NOT TREATED AS TAXABLE COMPENSATION BECAUSE THE PRESIDENT'S HOUSE IS USED FOR COLLEGE BUSINESS AND MEETINGS TO BUILD RELATIONSHIPS WITH PROSPECTIVE DONORS TO THE COLLEGE. A CITY OF DECORAH IA 426004485 2015-01-12 6868000 CURRENTLY REFUND CITY OF DECORAH SERIES 2010 BONDS ISSUED 12/21/2010 0 0 0 B IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 2017-09-01 20945000 CURRENTLY REFUND IA HIGHER EDUCATION LOAN AUTHORITY SERIES 2011 0 0 0 A 3270949 6868000 20174 6847826 2015 1 0 1 1 B 8028916 20945000 115000 20830000 2017 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 1 1 0 0 0 1 A 0 0 0 1 1 0 0 0 1 B 0 0 0 1 1 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: CITY OF DECORAH IA DATE THE REBATE COMPUTATION WAS PERFORMED: 12/01/2015 ISSUER NAME: IOWA HIGHER EDUCATION LOAN AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 09/01/2017 123390 MERIT SCHOLARSHIPS - 3 STUDENTS STUDENT FINANCIAL AID X 68 1557646 FMV X BEVERAGES 1 147 FMV 0 0 1 1 PART I, COLUMN (B): THE AMOUNT IN COLUMN (B) IS THE NUMBER OF CONTRIBUTIONS. PART I, LINE 32B: REAL ESTATE AGENTS OR ART DEALERS USED TO SELL CONTRIBUTIONS OF REAL PROPERTY. FINANCIAL ADVISORS ARE USED TO MANAGE CONTRIUTIONS OF CRUTS. FORM 990, PART VI, SECTION A, LINE 4 THE ARTICLES OF INCORPORATION WERE AMENDED TO PROVIDE THAT MEMBERS OF THE CORPORATION SHALL BE THOSE INDIVIDUALS HOLDING THE FOLLOWING POSITIONS AND OFFICES: THE MEMBERS OF THE EVANGELICAL LUTHERAN CHURCH IN AMERICA CHURCH COUNCIL, OR THE SUCCEEDING BODY OF THE EVANGELICAL LUTHERAN CHURCH IN AMERICA OR ITS SUCCESSOR (THE "CHURCH COUNCIL"), AS SUCH MEMBERS ARE APPOINTED IN ACCORDANCE WITH THE DISCIPLINE AND USAGE OF THE EVANGELICAL LUTHERAN CHURCH IN AMERICA, OR ITS SUCCESSOR. SUCH MEMBERS OF THE CHURCH COUNCIL SHALL REMAIN MEMBERS OF THE CORPORATION UNTIL THEY NO LONGER SERVE AS MEMBERS OF THE CHURCH COUNCIL. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THIS CORPORATION SHALL BE THOSE INDIVIDUALS HOLDING THE FOLLOWING POSITIONS AND OFFICES: (A) THE MEMBERS OF THE EVANGELICAL LUTHERAN CHURCH IN AMERICA CHURCH COUNCIL, OR THE SUCCEEDING BODY OF THE EVANGELICAL LUTHERAN CHURCH IN AMERICA OR ITS SUCCESSOR (THE "CHURCH COUNCIL"), AS SUCH MEMBERS ARE APPOINTED IN ACCORDANCE WITH THE DISCIPLINE AND USAGE OF THE EVANGELICAL LUTHERAN CHURCH IN AMERICA, OR ITS SUCCESSOR. SUCH MEMBERS OF THE CHURCH COUNCIL SHALL REMAIN MEMBERS OF THE CORPORATION UNTIL THEY NO LONGER SERVE AS MEMBERS OF THE CHURCH COUNCIL. (B) THE MEMBERS OF THE BOARD OF REGENTS OF THIS CORPORATION. (C) THE PRESIDENT OF THE COLLEGE OPERATED BY THIS CORPORATION (D) THE OFFICERS OF THE ADMINISTRATION OF THE COLLEGE. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BODY OF LUTHER COLLEGE IS THE BOARD OF REGENTS. THE BOARD OF REGENTS ARE LISTED AS MEMBERS OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PREPARED BY THE CONTROLLER, REVIEWED BY THE ASSOCIATE VP FOR FINANCE, AND THE VP FOR FINANCE AND ADMINISTRATION. THE 990 IS THEN SENT TO THE FIRM OF BAKER TILLY VIRCHOW KRAUSE, LLP FOR REVIEW AND ENTRY INTO THEIR TAX SOFTWARE. AFTER ALL REVIEWS ARE COMPLETED, THE 990 IS PRESENTED TO THE AUDIT COMMITTEE FOR THEIR REVIEW AND APPROVAL. AFTER AUDIT COMMITTEE APPROVAL, THE 990 IS SENT TO EACH BOARD MEMBER, AND THE COMPLETED 990 IS SIGNED BY THE VP FOR FINANCE AND ADMINISTRATION, AND A PARTNER FROM BAKER TILLY VIRCHOW KRAUSE, LLP, AND IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C LUTHER COLLEGE'S CONFLICT OF INTEREST POLICY AND DISCLOSURE STATEMENT IS SENT OUT TO THE BOARD OF REGENTS, AUDIT COMMITTEE, INVESTMENT COMMITTEE, PRESIDENT, VICE PRESIDENTS, AND KEY EMPLOYEES OF THE COLLEGE IN MAY OF EACH YEAR. EACH RECIPIENT IS REQUIRED TO READ THE POLICY AND TO COMPLETE, SIGN, AND RETURN THE DISCLOSURE STATEMENT TO THE OFFICE FOR FINANCIAL SERVICES TO BE REVIEWED FOR POTENTIAL INTERESTS THAT COULD GIVE RISE TO CONFLICTS. LUTHER COLLEGE'S CONFLICT OF INTEREST POLICY AND DISCLOSURE STATEMENT ADDRESSES ALL AREAS OF CONCERN EXPRESSED ON FORM 990. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT, PROVOST, VICE PRESIDENTS, AND CEIO OF THE COLLEGE RECEIVED THE SAME $1,100 RAISE THAT WAS RECEIVED BY THE REST OF CAMPUS, UNLESS THEY DECLINED TO RECEIVE A RAISE. THE PRESIDENT OF THE COLLEGE REVIEWED AND PRESENTED THIS PLAN TO THE BOARD OF REGENTS. THE BOARD OF REGENTS APPROVED THE COMPENSATION INCREASE. THIS PROCESS WAS COMPLETED IN AUGUST 2025. FORM 990, PART VI, SECTION C, LINE 19 COPIES OF LUTHER COLLEGE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AUDITED FINANCIAL STATEMENTS, AND FORMS 990 & 990-T ARE AVAILABLE TO THE PUBLIC UPON REQUEST AT THE OFFICE FOR FINANCIAL SERVICES, 700 COLLEGE DRIVE, DECORAH, IA 52101. THE AUDITED FINANCIAL STATEMENTS ARE ALSO AVAILABLE ONLINE AT WWW.LUTHER.EDU/FINANCIALSERVICES. FORM 990, PART XI, LINE 9: ACTUARIAL ADJUSTMENT 783,025. INTEREST RATE SWAP -406,315. SUBSIDIARY REVENUE 212,667. SUBSIDIARY EXPENSE -121,363. LUTHER COLLEGE WIND ENERGY PROJECT LLC 700 COLLEGE DRIVE DECORAH IA 52101 352366881 PRODUCTION OF ELECTRICITY IA 0 0 LUTHER COLLEGE VENTURES INC LUTHER COLLEGE VENTURES INC 700 COLLEGE DRIVE DECORAH IA 52101 273945752 HOLDING COMPANY IA N/A C 212667 1142288 1.00000 1 CHARITABLE REMAINDER UNITRUSTS (25) 700 COLLEGE DRIVE DECORAH IA 52101 420680466 TRUST IA N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0