2024-03-13T20:44:27-05:00 2022-12-31 910189318 MOSS ADAMS LLP PO BOX 22650 YAKIMA WA 989072650 990 2022-07-01 475284384 HERITAGE U LEVERAGE LENDER HERI 5098658663 3240 FORT RD TOPPENISH WA 98948 ANDREW SUND PRESIDENT - HERITAGE UNIVERSITY 5098658643 2024-03-13 1 ANDREW SUND 999009999 1 EMINA O CRESSWELL CPA P01217304 5092487750 2024-03-06 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z X ANDREW SUND 3240 FORT RD TOPPENISH WA 98948 34664 0 X N/A X 2015 WA TO SUPPORT AND BENEFIT, FINANCIALLY AND/OR OPERATIONALLY, HERITAGE UNIVERSITY. X 4 1 0 1 0 0 0 0 0 0 48059 34664 0 0 48059 34664 0 0 0 0 0 0 0 0 0 49589 34664 49589 34664 -1530 0 6587500 0 0 0 6587500 0 X TO SUPPORT AND BENEFIT, FINANCIALLY AND/OR OPERATIONALLY, HERITAGE UNIVERSITY. 0 1 34664 THE PURPOSE OF THE ORGANIZATION IS TO SERVE AS A SUPPORTING ORGANIZATION FOR HERITAGE UNIVERSITY. THE ORGANIZATION IS PARTICIPATING IN A NEW MARKETS TAX CREDIT TRANSACTION BY PROVIDING A LEVERAGED LOAN TO AN INVESTMENT FUND ENTITY, WHICH WILL AGGREGATE OTHER FUNDS TO MAKE A "QUALIFIED EQUITY INVESTMENT" TO A "QUALIFIED COMMUNITY DEVELOPMENT ENTITY" (EACH AS DEFINED IN I.R.C. 45D). THE FUNDS WILL ULTIMATELY BE MADE TO AN AFFILIATED SUPPORTING ORGANIZATION OF HERITAGE TO FACILITATE HERITAGE'S CAMPUS EXPANSION PLAN, WHICH INCLUDES THE DEVELOPMENT OF BUILDINGS TO BE USED FOR CLASSROOMS, COMPUTER LABS, AN ART STUDIO, DINING FACILITIES, AND TO HOUSE INFORMATION TECHNOLOGY. ACCORDINGLY, THE ORGANIZATION PROVIDES SUPPORTING SERVICES TO HERITAGE IN FURTHERANCE OF ITS MISSION. 34664 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 1 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 X ALYSIA STEVENS 5098658618 3240 FORT RD TOPPENISH WA 98948 ANDREW SUND PRESIDENT, HERITAGE UNIVER 1.00 40.00 X X 0 326150 33137 DAVID WISE VP ADVANCEMENT, HERITAGE U 1.00 40.00 X X 0 139050 20075 THOMAS RICHTER CFO/VP OF ADMINISTRATION 1.00 40.00 X X 0 139050 10341 PATRICK OSHIE BOARD MEMBER 1.00 2.00 X 0 0 0 KAZUHIRO SONODA PROVOST 1.00 40.00 X 0 152100 10914 DR MELISSA HILL INTERIM PROVOST 1.00 40.00 X 0 139050 20075 0 895400 94542 0 0 1 0 0 34664 34664 34664 0 0 34664 34 34 34630 34630 34664 34664 0 0 0 0 0 0 0 0 6587500 0 0 0 0 0 0 0 0 0 6587500 0 0 0 X 6587500 0 6587500 0 6587500 0 X 0 -6587500 X 0 0 0 X X X 1 HERITAGE UNIVERSITY 911160585 2 1 34664 0 1 34664 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 48059 34664 48059 34664 0 0 0 0 0 0 48059 34664 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 48059 40850 0 40850 0 40850 34664 0 34 0 0 0 34698 34664 40850 84.860000000000 40850 0 48070 48048 48059 48065 49589 241831 0 40850 7220 193761 34698 0 34698 0 0 228459 48048 48059 48065 49589 34698 PART IV, SECTION D, LINE 3: HERITAGE U LEVERAGE LENDER (HULL) HAD NO INVESTMENTS OTHER THAN HERITAGE UNIVERSITY (HERITAGE). 2/3 OF HULL'S BOARD MEMBERS WERE ALSO ON HERITAGE'S BOARD OR MANAGEMENT TEAM. AS SUCH ALL INVESTMENT DECISIONS MADE BY THE HULL BOARD WERE FIRST DISCUSSED AND APPROVED BY HERITAGE'S MANAGEMENT OR BOARD OF DIRECTORS. AS OF 12/31/2022, NO INVESTMENT DECISIONS WERE MADE OUTSIDE OF THE DECISIONS REACHED DURING THE NEW MARKET TAX CREDIT STRUCTURE SETUP AND APPROVAL. PART V, SECTION D, LINE 8 HERITAGE U LEVERAGE LENDER (HULL) IS PARTICIPATING IN A NEW MARKETS TAX CREDIT TRANSACTION IN ACCORDANCE WITH SECTION 45D OF THE CODE TO PROVIDE FUNDS FOR THE DEVELOPMENT OF A NEW FACILITY WHICH WILL ALLOW HERITAGE UNIVERSITY (HERITAGE) TO EXPAND ITS CAMPUS. WITHOUT THIS SUPPORT, HERITAGE COULD NOT COMPLETE OR OPERATE THE PROJECT. HULL IS RESPONSIVE TO THE NEEDS OF HERITAGE SINCE TWO-THIRDS OF HULL'S BOARD MEMBERS ARE ALSO MEMBERS OF HERITAGE'S BOARD OR MEMBERS OF HERITAGE'S MANAGEMENT TEAM. AS SUCH ALL INVESTMENT DECISIONS MADE BY THE HULL BOARD WERE FIRST DISCUSSED AND APPROVED BY HERITAGE'S MANAGEMENT OR BOARD OF DIRECTORS. 0 0 0 0 0 0 0 0 0 ANDREW SUND PRESIDENT, HERITAGE UNIVER 0 281750 0 0 0 44400 0 22830 0 10307 0 359287 0 0 KAZUHIRO SONODA PROVOST 0 152100 0 0 0 0 0 10647 0 267 0 163014 0 0 DAVID WISE VP ADVANCEMENT, HERITAGE U 0 139050 0 0 0 0 0 9734 0 10341 0 159125 0 0 DR MELISSA HILL INTERIM PROVOST 0 139050 0 0 0 0 0 9734 0 10341 0 159125 0 0 PART I, LINE 3 HERITAGE UNIVERSITY, A RELATED ORGANIZATION, DETERMINES THE PRESIDENT'S COMPENSATION USING COMPARATIVE DATA PROVIDED BY CUPA. THE DATA IS REVIEWED BY THE COMPENSATION COMMITTEE OF THE BOARD WHICH IS COMPRISED OF THE BOARD CHAIR, FINANCE COMMITTEE CHAIR, AND THE CFO. NOTES & LOANS RECEIVABLE 2023-02-10 6587500 BOOK VALUE 911160585 HERITAGE UNIVERSITY 3240 FORT ROAD TOPPENISH WA 98948 501C3 1 1 0 0 1 1 1 1 0 PART I, LINE 2E: EXPLANATION OF INVOLVEMENT: PATRICK OSHIE SERVES ON THE BOARD OF BOTH HERITAGE U LEVERAGE LENDER AND HERITAGE UNIVERSITY. THE OTHER BOARD MEMBERS AND OFFICERS OF HERITAGE U LEVERAGE LENDER ARE ALSO EMPLOYEES OF HERITAGE UNIVERSITY. FORM 990, PART III, LINE 3 THE ORGANIZATION HAS CEASED CONDUCTING PROGRAM SERVICES DUE TO DISSOLUTION. FORM 990, PART VI, SECTION A, LINE 1A DR. SUND, MR. WISE, MR. RICHTER, MRS. SONODA, AND DR. HILL ARE EMPLOYEES OF A RELATED ORGANIZATION, HERITAGE UNIVERSITY. FORM 990, PART VI, SECTION A, LINE 2 DR. SUND, MR. WISE, MR. RICHTER, MRS. SONODA, AND DR. HILL EACH HAS A BUSINESS RELATIONSHIP FROM EMPLOYMENT WITH CONTROLLING ORGANIZATION, HERITAGE UNIVERSITY. FORM 990, PART VI, SECTION B, LINE 11B THE CONTROLLER OF HERITAGE UNIVERSITY GENERATES THE RETURN. THE DRAFT RETURN IS REVIEWED BY THE CONTROLLER AND COULD BE REVIEWED BY THE CFO. THE FINAL RETURN IS REVIEWED BY THE CONTROLLER, CFO, AND THE PRESIDENT OF HERITAGE. FORM 990, PART VI, SECTION B, LINE 12C TOP MANAGEMENT (PRES. & VP'S) MONITOR EACH OTHER AND THE BOARD ON AN ANNUAL BASIS BY DIRECT DISCUSSION, FINANCIAL TRANSACTION REVIEW, AND PUBLIC INVOLVEMENT REVIEWS. IF THERE IS A CONFLICT OF INTEREST, THE BOARD MEMBER WOULD ABSTAIN FROM ANY DECISION OR VOTE. ALL MEMBERS OF THE BOARD ARE REQUIRED TO SIGN AN AFFIDAVIT CONFIRMING THAT THEY HAVE NO CONFLICTS OF INTEREST WITH THE UNIVERSITY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS ARE AVAILABLE TO ANYONE UPON REQUEST. CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE NOT AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: FINAL YEAR DISTRIBUTION TO HERITAGE UNIVERSITY -6,587,500. HERITAGE UNIVERSITY 3240 FORT ROAD TOPPENISH WA 98948 911160585 HIGHER EDUCATION WA 501(C)(3) LINE 2 N/A 0 HERITAGE U BUILDING SUPPORT 3240 FORT ROAD TOPPENISH WA 98948 475071980 SUPPORT ORGANIZATION HERITAGE UNIVERSITY WA 501(C)(3) LINE 12A, I HERITAGE UNIVERSITY 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 THE ORGANIZATION IS FILING IT'S TAX RETURN AFTER IT'S EXTENDED DUE DATE OF NOVEMBER 15, 2023 DUE TO WASHINGTON SECRETARY OF STATE NOT PROCESSING THE ORGANIZATION'S REQUEST FOR DISSOLUTION IN A TIMELY MANNER. THE TAX RETURN WAS READY TO BE TIMELY SUBMITTED BY NOVEMBER 15, 2023; HOWEVER, THE ORGANIZATION DIDN'T HAVE THE DISSOLUTION DOCUMENTS TO ATTACH TO THE FORM 990 FOR A COMPLETE FILING. THE ORGANIZATION CONTACTED THE WASHINGTON SECRETARY OF STATE SEVERAL TIMES TO REQUEST THE DISSOLUTION DOCUMENTS VIA PHONE AND EMAIL.THE ORGANIZATION HAS PROVIDED EVIDENCE THAT IT ATTEMPTED TO TIMELY FILE ITS TAX RETURN PRIOR TO THE EXTENDED DUE DATE OF NOVEMBER 15, 2023 BUT ULTIMATELY WAS UNABLE TO DO SO DUE TO DELAYS AT THE WASHINGTON SECRETARY OF STATE. THEREFORE, THE ORGANIZATION REQUESTS AN ABATEMENT OF PENALTIES FOR LATE FILING OF IT'S FINAL FORM 990.