2026-05-04T09:14:10-05:00 2025-06-30 410746749 CLIFTONLARSONALLEN LLP 121 SOUTH TEJON STREET SUITE 1100 COLORADO SPRINGS CO 80903 990 2024-07-01 362191242 CONCORDIA UNIVERSITY CHICAGO CONC 7087718300 7400 AUGUSTA STREET RIVER FOREST IL 603051499 JOHN THOELKE VICE PRESIDENT FOR FINANCE, CFO 7087718300 2026-04-30 1 0 SARAH HINTZ P00492291 7196350330 2026-04-30 2024 2025-03-06 01:10:19Z JOHN THOELKE 7400 AUGUSTA STREET RIVER FOREST IL 603051499 89611938 0 X WWW.CUCHICAGO.EDU X 1864 IL LIBERAL ARTS CHRISTIAN UNIVERSITY FOR ALL WHO SEEK TO DEVELOP THEIR FULL POTENTIAL. 15 15 1171 1250 0 0 8750032 9156185 77086770 79887207 -667337 17637 -10130 9644 85159335 89070673 18416272 19759543 0 0 35327270 35812861 0 0 1911356 31378419 30966737 85121961 86539141 37374 2531532 79638638 77907213 54980627 51005430 24658011 26901783 X STEADFAST IN JESUS CHRIST AS REVEALED IN THE HOLY SCRIPTURES, CONCORDIA UNIVERSITY CHICAGO PROMOTES ACADEMIC RIGOR IN ITS LIBERAL ARTS AND PROFESSIONAL PROGRAMS; GROUNDS STUDENTS IN OBJECTIVE TRUTH, INTEGRITY, AND EXCELLENCE; AND PRACTICES FAITHFULNESS TO THE CONFESSIONAL TEACHINGS OF THE LUTHERAN CHURCH MISSOURI SYNOD, AS IT FORMS STUDENTS FOR VOCATIONS IN CHURCH, FAMILY, AND THE WORLD. 0 0 65133152 19759543 69799357 EDUCATION, GENERAL AND OTHER - OPERATION OF HIGHER EDUCATION AND INSTRUCTION DIVISIONS INCLUDING SUPPORT PROGRAMS DEVOTED TO RELIGIOUS EDUCATION, ENCOURAGEMENT AND UNDERSTANDING FOR BOTH MASTER'S LEVEL AND DOCTORAL, AS WELL AS UNDERGRADUATE STUDENTS. (FALL 2024 TOTAL ENROLLMENT - 4,771) 4588578 0 479713 CONFERENCES, WORKSHOPS, AND OTHER UNIVERSITY EVENTS - EACH FISCAL YEAR, CONCORDIA UNIVERSITY CHICAGO HOSTS SEVERAL EVENTS WHICH CONTRIBUTE TO THE ACCOMPLISHMENT OF THE UNIVERSITY'S MISSION. EVENTS INCLUDE EDUCATIONAL CONFERENCES, WORKSHOPS, STUDENT LED CONCERTS, THEATRE PRODUCTIONS AND ATHLETIC EVENTS. NOT ONLY DO THESE EVENTS ENHANCE OUR STUDENTS' EDUCATIONAL EXPERIENCE, BUT THEY ALSO HELP EDUCATE INDIVIDUALS FROM THE OVERALL COMMUNITY. 3880720 0 6407788 COLLEGE STUDENT ROOM AND BOARD - CONCORDIA UNIVERSITY CHICAGO, LIKE MOST OTHER COLLEGES/UNIVERSITIES, PROVIDES ROOM AND BOARD TO ITS STUDENTS. DURING THIS REPORTING PERIOD, 563 STUDENTS LIVED IN THE DORMS. 2705175 0 3200349 OPERATION OF CHILDCARE, EARLY CHILDHOOD, AND PRIMARY PROGRAMS FOR CHILDREN, ALL OF WHICH INCLUDE A STRONG EDUCATIONAL COMPONENT, AS WELL AS A CORE CHRISTIAN VALUE COMPONENT. LAST YEAR, THE EARLY CHILDHOOD CENTER SERVED NEARLY 200 CHILDREN. 2705175 0 3200349 76307625 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 0 1 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 6890 0 1 1171 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 15 15 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X JOHN THOELKE 7087718300 7400 AUGUSTA ST RIVER FOREST IL 60305 MICHELLE KAZMIERCZAK CHAIRMAN 3.00 0.00 X X 0 0 0 REV MATTHEW ZICKLER VICE CHAIRMAN 3.00 0.00 X X 0 0 0 JEFF SCHWARZ SECRETARY 3.00 0.00 X X 0 0 0 REV ERIC ANDRAE BOARD MEMBER - THRU DEC 2024 1.00 0.00 X 0 0 0 JOHN BLAKKAN BOARD MEMBER - THRU JUNE 2025 1.00 0.00 X 0 0 0 REV ALLAN BUSS BOARD MEMBER 1.00 0.00 X 0 0 0 REV SETH CLEMMER BOARD MEMBER 1.00 0.00 X 0 0 0 DR KYLE KNOEPFEL BOARD MEMBER - AS OF 3/25 1.00 0.00 X 0 0 0 JOHN KRAUSE BOARD MEMBER 1.00 0.00 X 0 0 0 CHRISTOPHER KROHE BOARD MEMBER - THRU MAY 2025 1.00 0.00 X 0 0 0 THOMAS MCCAIN BOARD MEMBER - THRU DEC 2024 1.00 0.00 X 0 0 0 DR GERHARD MUNDINGER BOARD MEMBER - AS OF 3/25 1.00 0.00 X 0 0 0 REV LAWRENCE RAST BOARD MEMBER - AS OF 5/25 1.00 0.00 X 0 0 0 LARRY RICHARDSON BOARD MEMBER 1.00 0.00 X 0 0 0 DOMINIC SALVINO BOARD MEMBER - THRU MAY 2025 1.00 0.00 X 0 0 0 BRUCE SCHULTZ BOARD MEMBER - THRU JUNE 2025 1.00 0.00 X 0 0 0 FRANK SIMEK BOARD MEMBER 1.00 0.00 X 0 0 0 JENNIFER SIUKOLA BOARD MEMBER 1.00 0.00 X 0 0 0 VIRGINIA TERRELL BOARD MEMBER 1.00 0.00 X 0 0 0 JOHN THOELKE BOARD MEMBER 1.00 0.00 X 0 0 0 DR ALISON WITTE BOARD MEMBER 1.00 0.00 X 0 0 0 RUSSELL DAWN PRESIDENT 48.00 2.00 X 283485 0 152490 RANDALL BARFIELD CFO/VICE PRESIDENT - THRU JUNE 2025 48.00 2.00 X 215418 0 19515 GWEN KANELOS VICE PRESIDENT - THRU NOV 2024 50.00 0.00 X 234202 0 25628 JEFFREY HYNES VICE PRESIDENT 45.00 5.00 X 189593 0 56548 JAMIE KOWALCZYK VICE PRESIDENT 50.00 0.00 X 184096 0 41066 ELI HESTERMANN VICE PRESIDENT 50.00 0.00 X 178061 0 43472 KATHRYN GEBHARDT VICE PRESIDENT 50.00 0.00 X 157662 0 45830 THERESA MIYASHITA PROFESSOR/CHAIR 50.00 0.00 X 197918 0 10905 PAMELA KONKOL ASSOCIATE DEAN 50.00 0.00 X 169257 0 10881 SCOTT WARD ASSOCIATE VP 50.00 0.00 X 157485 0 36686 LYNN HUNNICUTT DEAN 50.00 0.00 X 154523 0 36089 KRISTEN BAYER PROFESSOR 50.00 0.00 X 149914 0 19081 2271614 0 498191 49 0 1 0 RELEARNIT INC 209 SAINT LOUIS ST FLORISSANT MO 63031 STUDENT SERVICES & RECRUITMENT 3487713 EDUCATORS ADVANCEMENT GROUP 20624 ABBEY WOODS CT N FRANKFORT IL 60423 STUDENT SERVICES & RECRUITMENT 3359232 SODEXO CORPORATION 10 EARHART DR WILLIAMSVILLE NY 14221 STUDENT DINING SERVICES 2936706 RAGNAR BENSON LLC 250 S NORTHWEST HWY PARK RIDGE IL 60068 CONSTRUCTION SERVICES 2649921 NATIONAL MANAGEMENT RESOURCES CORPORATIO PO BOX 1224 LAGRANGE GA 30241 PLANT/MAINTENANCE SERVICES 1730138 21 45210 1119708 2341631 5649636 112575 9156185 TUITION 611310 66902968 66902968 ROOM AND BOARD 611710 6181404 6181404 OTHER REVENUE AND STUDENT SERVICE 611710 3285977 3285977 EARLY CHILDHOOD CENTER 611600 3200349 3200349 CONVENTIONS AND OTHER EVENTS 611710 255673 255673 60836 60836 79887207 32676 32676 527542 471301 56241 56241 56241 15039 -15039 -15039 -15039 8328 45210 54925 -46597 -46597 89070673 79887207 0 27281 X 19759543 19759543 1625186 913311 466189 245686 27532745 23333328 3421070 778347 1299947 1094295 163222 42430 3508475 2890451 479241 138783 1846508 1507505 258330 80673 222693 222693 118256 118256 15234064 14715946 436420 81698 650525 575169 53407 21949 2141578 1475178 531189 135211 3721803 3407895 292392 21516 962829 859089 42783 60957 1624786 1540678 66417 17691 3636579 3505581 90745 40253 716776 149397 567379 CREDIT LOSS EXPENSE 1076656 879315 197341 OTHER EXPENSES 829260 549327 231112 48821 STUDY ABROAD PROGRAM 30932 30932 86539141 76307625 8320160 1911356 245125 187876 4848542 3653422 8600288 8325640 2890355 2616845 100935096 43776380 58469419 57158716 205750 1668437 4379159 4296277 79638638 77907213 5978971 5068898 4947261 5013305 7472609 6323937 36199962 34320639 315780 344695 54980627 51005430 X 18565671 18099641 6092340 8802142 24658011 26901783 79638638 77907213 X 2531532 -287760 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 32445226 1053511 3957823 864665 255030 101396 36235469 28476306 1330628 3708923 693743 376888 32445226 25404270 1750874 2995786 632516 1042108 28476306 30580634 751749 -3864906 721411 1341796 25404270 23228631 669794 7639557 690797 266551 30580634 0.30112 0.43032 0.26856 0 1 1 1919643 1919643 86085000 36299076 49785924 11352250 7477304 3874946 1578203 1578203 57158716 DUE FROM CONCORDIA FOUNDATION 4574 RIGHT OF USE ASSET 305871 INTEREST RATE SWAP AGREEMENT 1120382 FUNDS HELD IN TRUST 2131790 CHARITABLE REMAINDER AND LEAD TRUSTS 733660 4296277 FINANCE LEASES 344695 344695 X 73356296 4045166 4045166 69311130 19759543 19759543 89070673 67305824 526226 526226 66779598 19759543 19759543 86539141 PART III, LINE 1A: THE UNIVERSITY HAS A COLLECTION OF ART OBJECTS, MOST OF WHICH WERE CONTRIBUTED TO THE UNIVERSITY. DONATIONS AND ACQUISITIONS OF COLLECTIONS ARE NOT REQUIRED TO BE RECOGNIZED SINCE THEY ARE ADDED TO COLLECTIONS THAT ARE HELD FOR PUBLIC EXHIBITION AND EDUCATION IN FURTHERANCE OF PUBLIC SERVICE RATHER THAN FINANCIAL GAIN; ARE PROTECTED, KEPT ENCUMBERED, CARED FOR AND PRESERVED; AND ARE SUBJECT TO A POLICY THAT REQUIRES THE PROCEEDS FROM SALES OF COLLECTION ITEMS TO BE USED TO ACQUIRE OTHER ITEMS FOR COLLECTIONS. THEREFORE, THE VALUE OF THESE OBJECTS IS NOT RECORDED IN THE ACCOMPANYING CONSOLIDATED STATEMENTS OF FINANCIAL POSITION. PART III, LINE 4: THE UNIVERSITY'S COLLECTION IS PRIMARILY COMPRISED OF PAINTINGS AND SCULPTURES THAT HAVE BEEN DONATED IN PRIOR YEARS. AN INVENTORY OF ALL WORKS IS MAINTAINED BY THE ART DEPARTMENT. PIECES ARE DISPLAYED FOR PUBLIC APPRECIATION AND FOR STUDENTS TO STUDY FOR ACADEMIC PURPOSES. PART V, LINE 4: THE ENDOWMENT ASSISTS CONCORDIA UNIVERSITY'S EDUCATIONAL AND RELIGIOUS ACTIVITIES BY PROVIDING PAYOUTS FOR 1) FINANCIAL AID GIVEN TO CONCORDIA UNIVERSITY STUDENTS, 2) STUDENT SERVICES AND ACADEMICS, AND 3) MAINTENANCE AND OPERATION OF PLANT AND GENERAL OPERATIONS. PART X, LINE 2: CONCORDIA UNIVERSITY CHICAGO AND THE FOUNDATION ARE ORGANIZATIONS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) OF 1986, AS AMENDED AND, AS SUCH, ARE EXEMPT FROM FEDERAL INCOME TAX ON INCOME EARNED RELATED TO EXEMPT ACTIVITIES UNDER IRC SECTION 501(A). IN ADDITION, THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT CONCORDIA UNIVERSITY CHICAGO AND THE FOUNDATION ARE NOT PRIVATE FOUNDATIONS. THE UNIVERSITY EVALUATES THEIR UNCERTAIN TAX POSITIONS ON AN ANNUAL BASIS, AND THERE HAVE BEEN NO RECORDED UNCERTAIN TAX POSITION RECORDED IN 2024, 2023, AND 2022. THEREFORE, NO PROVISION OR LIABILITY FOR INCOME TAXES HAS BEEN INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE UNIVERSITY FILES VARIOUS FEDERAL AND STATE NONPROFIT TAX RETURNS. THE UNIVERSITY IS NO LONGER SUBJECT TO U.S. FEDERAL OR STATE EXAMINATIONS BY TAX AUTHORITIES PRIOR TO 2020. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FUNDS HELD IN TRUST 232,080. CHANGE IN CHARITABLE LEAD AND REMAINDER TRUSTS 57,965. UNREALIZED LOSS ON INTEREST RATE SWAP AGREEMENT -529,842. RENTAL EXPENSES 471,301. FUNDRAISING EXPENSES 54,925. RELATED ENTITY - CONCORDIA FOUNDATION REVENUE 3,806,700. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE -47,963. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 19,759,543. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 54,925. RENTAL EXPENSES 471,301. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 19,759,543. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 CONCORDIA UNIVERSITY PUBLISHES ITS STATEMENT OF NON-DISCRIMINATION IN LOCAL PRINT MEDIA, ON ITS WEBSITE AT WWW.CUCHICAGO.EDU, AND VIA RECRUITMENT MATERIALS DISTRIBUTED BY THE OFFICE OF ADMISSION. SCHEDULE E, PART I, LINE 6 CONCORDIA UNIVERSITY SERVES AS A PASS-THROUGH GRANTOR FOR SEVERAL FEDERAL STUDENT FINANCIAL ASSISTANCE PROGRAMS. THESE FEDERAL PROGRAMS INCLUDE: FEDERAL PELL GRANT PROGRAM, FEDERAL PERKINS LOAN PROGRAM, FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT PROGRAM, FEDERAL WORK STUDY PROGRAM, AND THE FEDERAL EDUCATION LOAN PROGRAM. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAM 30932 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES RECRUITMENT AND STUDENT SERVICES 611619 0 0 0 0 0 0 642551 0 642551 0 0 0 0 0 0 PART I, LINE 3: THE UNIVERSITY USED THE ACCRUAL METHOD OF ACCOUNT TO ACCOUNT FOR EXPENDITURES. BANQUET 53538 45210 8328 1000 27000 21698 300 4927 53538 45210 8328 1000 27000 21698 300 4927 54925 -46597 1 STUDENT SCHOLARSHIPS AND FELLOWSHIPS 1049 19759543 N/A N/A PART I, LINE 2: STUDENTS' ELIGIBILITY TO RECEIVE FINANCIAL ASSISTANCE FROM CONCORDIA UNIVERSITY CHICAGO IS DETERMINED BY POLICY APPROVED BY THE BOARD OF REGENTS. ON A BASIS OF CAREFUL ANALYSIS OF FINANCIAL STATEMENTS, THE DIRECTOR OF FINANCIAL AID DETERMINES THE AMOUNT OF AID AVAILABLE FROM VARIOUS SOURCES. NEXT, THE AMOUNT THAT THE STUDENT AND HIS OR HER FAMILY CAN REASONABLY BE EXPECTED TO PROVIDE IS CALCULATED. THE DIFFERENCE IS CALLED "DEMONSTRATED NEED." FINANCIAL ASSISTANCE IS AWARDED BASED ON THE STUDENT'S DEMONSTRATED NEED FOR THAT YEAR. CONCORDIA UNIVERSITY ALSO PROVIDES STUDENT ASSISTANCE THROUGH WORK STUDY. X X 1 1 X X 1 0 0 0 0 0 0 0 0 RUSSELL DAWN PRESIDENT 282090 0 0 0 1395 0 30881 0 121609 0 435975 0 0 0 GWEN KANELOS VICE PRESIDENT - THRU NOV 2024 155471 0 0 0 78731 0 14433 0 11195 0 259830 0 0 0 JEFFREY HYNES VICE PRESIDENT 189593 0 0 0 0 0 18377 0 38171 0 246141 0 0 0 RANDALL BARFIELD CFO/VICE PRESIDENT - THRU JUNE 2025 215418 0 0 0 0 0 6480 0 13035 0 234933 0 0 0 JAMIE KOWALCZYK VICE PRESIDENT 184096 0 0 0 0 0 16928 0 24138 0 225162 0 0 0 ELI HESTERMANN VICE PRESIDENT 178061 0 0 0 0 0 5700 0 37772 0 221533 0 0 0 THERESA MIYASHITA PROFESSOR/CHAIR 197918 0 0 0 0 0 9600 0 1305 0 208823 0 0 0 KATHRYN GEBHARDT VICE PRESIDENT 157662 0 0 0 0 0 13268 0 32562 0 203492 0 0 0 SCOTT WARD ASSOCIATE VP 157485 0 0 0 0 0 4916 0 31770 0 194171 0 0 0 LYNN HUNNICUTT DEAN 154523 0 0 0 0 0 4600 0 31489 0 190612 0 0 0 PAMELA KONKOL ASSOCIATE DEAN 169257 0 0 0 0 0 10266 0 615 0 180138 0 0 0 KRISTEN BAYER PROFESSOR 149914 0 0 0 0 0 4475 0 14606 0 168995 0 0 0 PART I, LINE 1A THE PRESIDENT IS PROVIDED WITH A PRIVATE RESIDENCE ALONG THE BORDER OF CAMPUS AS A CONDITION OF EMPLOYMENT. THE MAIN FLOOR LIVING AREAS ARE USED FOR VARIOUS UNIVERSITY FUNCTIONS THROUGHOUT THE YEAR, SUCH AS HOSTING RECEPTIONS FOR THE BOARD OF REGENTS OR SMALLER STUDENT GROUPS. THIS BENEFIT IN NONTAXABLE. THE PRESIDENT WAS REIMBURSED $1395 FOR UNIVERSITY CLUB OF CHICAGO DUES IN JULY 2024, WHICH WAS INCLUDED ON HIS W-2 FOR 2024. PART I, LINE 4A GWEN KANELOS RECEIVED A SEVERANCE PAYMENT OF $78,731. A ILLINOIS FINANCE AUTHORITY 861091967 2024-03-28 7860000 CURRENT REFUNDING ISSUE OF 2013 BONDS 0 0 0 A 1180000 7860000 7860000 2024 1 0 1 1 A 0 0 0 0 0.00390 0.00000 0.00390 0 0 1 A 0 0 1 1 1 0 0 0 0 A 1 X 1992 112575 MARKET VALUE 0 0 1 0 PART I, COLUMN (B): COLUMN (B) IS THE NUMBER OF ITEMS CONTRIBUTED. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE IS COMPRISED OF THE CHAIRMAN, VICE CHAIRMAN, AND SECRETARY. THE EXECUTIVE COMMITEE SHALL, EXCEPT AS LIMITED BY APPLICABLE LAW, HAVE AND EXERCISE THE AUTHORITY OF THE BOARD OF DIRECTORS IN THE MANAGEMENT OF THE UNIVERSITY WHEN THE BOARD IS NOT MEETING. FORM 990, PART VI, SECTION A, LINE 7A THERE ARE 17 VOTING MEMBERS OF THE UNIVERSITY'S BOARD OF REGENTS: 1) THE PRESIDENT OF THE NORTHERN ILLINOIS DISTRICT OF THE LUTHERAN CHURCH-MISSOURI SYNOD (LCMS), EX OFFICIO, ELECTED BY CONVENTION OF THE NORTHERN ILLINOIS DISTRICT OF THE LCMS. 2) FOUR MEMBERS ELECTED BY CONVENTION OF THE NORTHERN ILLINOIS DISTRICT OF THE LCMS. 3) FOUR MEMBERS ELECTED BY THE LCMS AT THE NATIONAL LCMS CONVENTION. 4) SEVEN MEMBERS ELECTED BY THE BOARD OF REGENTS. 5) ONE MEMBER IS APPOINTED BY THE PRAESIDIUM OF THE LCMS. ALL VOTING MEMBERS OF THE BOARD OF REGENTS HAVE THE SAME POWER AND AUTHORITY, REGARDLESS OF THE MANNER IN WHICH THEY ARE ELECTED TO THE BOARD. EACH VOTING MEMBER SERVES A THREE-YEAR TERM AND MAY NOT SERVE MORE THAN NINE CONSECUTIVE YEARS. TERMS ARE STAGGERED. THE PRESIDENT OF THE UNIVERSITY ALSO SERVES AS AN EX OFFICIO, NON-VOTING MEMBER OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE CONTROLLER PROVIDES THE NECESSARY INFORMATION TO THE UNIVERSITY'S AUDITOR, CLA. CLA PREPARES THE FIRST DRAFT AND SENDS IT TO THE CONTROLLER AND CFO FOR REVIEW, ALONG WITH QUESTIONS IF APPLICABLE. THE CONTROLLER AND CFO REVIEW THE DRAFT AND RESPOND TO QUESTIONS AS NEEDED, AND CLA THEN PREPARES A FINAL DRAFT WHICH IS SENT TO THE BOARD OF REGENTS FINANCE COMMITTEE. THE COMMITTEE IS AUTHORIZED, THROUGH BOARD RESOLUTION, TO ACT ON BEHALF OF THE ENTIRE BOARD IN REVIEWING AND APPROVING THE IRS FORM 990. DURING THIS REVIEW, MEMBERS ARE ABLE TO PROVIDE QUESTIONS OR COMMENTS TO THE CONTROLLER AND CFO. IF NEEDED, THE 990 IS AMENDED. THE COMMITTEE THEN VOTES TO APPROVE THE FILING OF THE IRS FORM 990 THROUGH RESOLUTION. AFTER THIS VOTE, THE IRS FORM 990 IS SENT TO THE ENTIRE BOARD OF REGENTS AND THE FINAL, APPROVED IRS FORM 990 IS FILED. WHILE NOT ANTICIPATED, IF A QUESTION OR CONCERN IS EXPRESSED BY A MEMBER OF THE BOARD OF REGENTS AT AN UPCOMING BOARD MEETING WHICH RESULTS IN A NEED TO CORRECT THE ALREADY FILED RETURN, THE CONTROLLER WILL WORK WITH CLA TO FILE AN AMENDED RETURN. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, BOARD MEMBERS ARE REQUIRED TO COMPLETE CONFLICT OF INTEREST QUESTIONNAIRES. ANY CONFLICT OF INTEREST IS TO BE REPORTED AND REVIEWED BY THE PRESIDENT OF CONCORDIA UNIVERSITY AND THE CHAIRMAN OF THE BOARD OF REGENTS. IF THERE IS A TRANSACTION WITH A CONFLICT OF INTEREST, THE INDIVIDUAL WITH THE CONFLICT OF INTEREST REFRAINS FROM VOTING ON THE TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF REGENTS APPROVES THE UNIVERSITY PRESIDENT'S ANNUAL CONTRACT AND SETS HIS SALARY. THE PRESIDENT SETS THE SALARIES OF HIS CABINET (WHICH INCLUDES THE CFO AND ALL OTHER VICE PRESIDENTS) AND SUBMITS THEM TO THE BOARD OF REGENTS FOR REVIEW AND APPROVAL. COMPARATIVE DATA FROM OTHER UNIVERSITIES (USING CUPA-HR DATA FOR OUR REGION AND INSTITUTIONAL SIZE AS WELL AS CUS DATA) IS GATHERED FOR EACH POSITION AND PROVIDED TO THE BOARD DURING THEIR REVIEW OF THE SALARIES. A REPORT INCLUDING THE CURRENT AND PROPOSED SALARIES, TOTAL COMPENSATION DATA (INCLUDING BENEFITS AND SPECIAL CONTRACT PROVISIONS, IF APPLICABLE) AND COMPARATIVE DATA IS PREPARED BY THE FINANCIAL ANALYST AND/OR DIRECTOR OF HUMAN RESOURCES WITH ASSISTANCE FROM THE CONTROLLER. ONCE THE BOARD OF REGENTS HAS REVIEWED THE DATA, THE ANNUAL COMPENSATION INCREASES FOR THESE INDIVIDUALS ARE EITHER APPROVED OR REJECTED. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2026. FORM 990, PART VI, SECTION C, LINE 19 CONCORDIA UNIVERSITY MAKES ITS ARTICLES OF INCORPORATION, BYLAWS, CONFLICT OF INTEREST POLICY, WHISTLE BLOWER POLICY, IRS FORM 990, AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE GENERAL PUBLIC ON ITS WEBSITE HTTP://WWW.CUCHICAGO.EDU/ABOUT-US/CONSUMER-INFORMATION/ FORM 990, PART IX, LINE 11G STUDENT RECRUITMENT: PROGRAM SERVICE EXPENSES 10,588,174. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 10,588,174. FOOD SERVICES: PROGRAM SERVICE EXPENSES 2,936,193. MANAGEMENT AND GENERAL EXPENSES 12,097. FUNDRAISING EXPENSES 14,977. TOTAL EXPENSES 2,963,267. ADVERTISING SERVICES: PROGRAM SERVICE EXPENSES 195,662. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 32,213. TOTAL EXPENSES 227,875. EMPLOYEE TRAINING: PROGRAM SERVICE EXPENSES 73,164. MANAGEMENT AND GENERAL EXPENSES 20,066. FUNDRAISING EXPENSES 75. TOTAL EXPENSES 93,305. OTHER PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 922,753. MANAGEMENT AND GENERAL EXPENSES 404,257. FUNDRAISING EXPENSES 34,433. TOTAL EXPENSES 1,361,443. FORM 990, PART XI, LINE 9: UNREALIZED LOSS ON INTEREST RATE SWAP AGREEMENT -529,842. CHANGE IN FUNDS HELD IN TRUST 232,080. CHANGE IN CHARITABLE LEAD AND REMAINDER TRUSTS 57,965. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE -47,963. FORM 990, PART XII, LINE 2: THE PROCESS FOR OVERSIGHT AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. CONCORDIA UNIVERSITY FOUNDATION 7400 AUGUSTA STREET RIVER FOREST IL 60305 237055802 TO PROMOTE CONCORDIA UNIVERSITY IL 501(C)(3) LINE 12A, I CONCORDIA UNIVERSITY 1 0 0 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 CONCORDIA UNIVERSITY FOUNDATION C 1119708 FMV