2024-05-14T15:47:31+00:00 2023-06-30 350921680 CROWE LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2022-07-01 362182170 Resurrection University RESU 6305379600 PO Box 4988 Oak Brook IL 605224988 Therese Scanlan President 2024-05-14 true Therese Scanlan 999009999 true Jennifer R Burke P01342224 3128997000 2022 2023-04-26 12:10:37Z Oak Point University Therese Scanlan EDD PO Box 4988 Oak Brook IL 605224988 18826907 false X www.oakpoint.edu X 2011 IL Resurrection University (dba Oak Point University) is an institution of higher learning educating women and men in the field of nursing, other health sciences, and health care related fields. 11 10 234 10 0 0 8427014 2762217 17083396 12060820 203115 605381 16661 11330 25730186 15439748 2153728 592690 0 13539799 13465993 0 23940 12419076 11288262 28112603 25346945 -2382417 -9907197 73355609 61146084 55579767 53000748 17775842 8145336 Resurrection University (dba Oak Point University) inspires, educates and forms life-long learners who meet the world's changing needs with curiosity, ingenuity and grace. false false 14328834 0 11692662 Instruction: Resurrection University (dba Oak Point University) provides higher education through undergraduate and graduate programs of study in the healthcare field. Experienced faculty emphasizes quality teaching and is dedicated to the development of individuals into knowledgeable, self-directed, responsive and caring persons. In addition, Our B2B educational model helps to bridge the gaps in today's healthcare workforce and create pathways for qualified candidates from diverse backgrounds to achieve their goals in professional healthcare. A Hire-Develop-Deploy-Upskill model for new hires and existing employees was developed as a partnership between institutions and is utilized to strengthen the core of the healthcare workforce at the emerging talent level. Our strategic model partners with employers to accelerate opportunities for the organization, the prospective employee, and the community. 4127145 592690 368158 Student Services: The student body is composed of approximately 445 members. Offices servicing the students include admissions, student finance and financial aid, registrar, clinical placement, academic center for excellence, library, personal counseling, career services, instructional technology, student experience and student academic success. 18455979 true true false false false false false false true true false false true true true true false true false false false false false false false false false true true true false false false false false false false false false false false false false false false false false false false true 77 0 true 234 true false false false false false false false false false false false false X 11 10 false false false false false false false true true false false true true true true true true true true false X Matthew Hughes 6305379610 PO Box 4988 Oak Brook IL 605224988 THERESE SCANLAN EDD PRESIDENT 40.0 X X 555955 0 77248 CARLA CARSTENS BOARD MEMBER 1.0 X 0 0 0 FELICIA WILHELM BOARD MEMBER 1.0 X 0 0 0 J MARC GOLAN BOARD MEMBER 1.0 X 0 0 0 KARENA BROWN ALUM ASSOC PRES 1.0 X 0 0 0 KYLE SUDDARTH BOARD MEMBER 1.0 X 0 0 0 LATHAM WILLIAMS CHAIRPERSON, BOARD MEMBER 1.0 X 0 0 0 MARYANN BARNES BOARD MEMBER 1.0 X 0 0 0 MAURICIO PINEDA ALUMNI BOARD PRESIDENT 1.0 X 0 0 0 PAMELA ZARKOWSKI BOARD MEMBER 1.0 X 0 0 0 SANDY MATTHEWS BOARD MEMBER 1.0 X 0 0 0 MATTHEW HUGHES EXEC VP, CFO, SECRETARY 40.0 X 282012 0 19780 MELISSA MURPHEY DEAN, COLLEGE OF NURSING 40.0 X 199082 0 16152 BRIGHAM TIMPSON CHIEF OF STAFF 40.0 X 147592 0 36408 BRYAN TERRY VP STUDENT EXPERIENCE 40.0 X 256693 0 31803 BRYAN WATKINS CHIEF LEARNING OFFICER 40.0 X 199304 0 33329 EMMA ORTIZ CONTROLLER 40.0 X 138248 0 22462 NANCY BRYAR MOORE VP PARTNERSHIP DEVELOPMENT & OPERATIONS 40.0 X 212281 0 32266 1991167 0 269448 32 false true false RED CAFFEINE 106 W ST CHARLES RD LOMBARD IL 60148 MARKETING & BUSINESS CONSULTING 736343 DGA MEDICAL COMMUNICATIONS 233 Paxson Lane Langhorne PA 19047 MEDICAL WRITING & MEDICAL INSTRUCTIONAL DESIGN SERVICES 341000 ASCEND LEARNING HOLDINGS LLC 62277 COLLECTIONS CENTER DR CHICAGO KS 606930622 TESTING SERVICES 320010 HUSCH BLACKWELL LLP PO BOX 790379 ST LOUIS MO 631790379 LEGAL SERVICES 220705 CROWE LLP 320 E Jefferson Blvd PO Box 7 South Bend IN 466240007 AUDIT, TAX, ADVISORY & CONSULTING 149203 6 0 0 0 0 1894791 867426 0 2762217 Student Tuition and Fees 611710 11692662 11692662 Program Revenues 611710 367600 367600 Other Student Fees 611710 558 558 0 0 0 0 12060820 178751 178751 5091 5091 0 0 3813789 3387159 426630 0 426630 426630 Miscellaneous Other 900099 6239 6239 0 0 0 0 6239 15439748 12060820 0 616711 592690 592690 1366352 673152 693200 9723840 8602358 1111818 9664 451781 366304 85477 1151027 930679 206072 14276 772993 653865 119128 294662 294662 109621 109621 69879 69879 1471306 852341 618965 0 614484 614484 46522 13201 33321 1430691 1144553 286138 0 0 0 2092349 1467355 624994 29843 16219 13624 2622 1244 1378 1459824 1459824 2249690 1815500 434190 179935 179935 Educational Materials & Services 538370 530317 8053 Provision for Bad Debt 174996 174996 Graduation Support 94240 94240 Bank Fees 92508 92508 336720 87477 249243 0 25346945 18455979 6867026 23940 8044382 927807 150954 151803 855000 537500 3323411 1907808 0 0 0 0 94227 82732 1366177 2189741 16916250 2853189 14821186 14063061 9016397 7980324 0 0 35683875 33305308 73355609 61146084 1719645 1718063 2055897 1503873 8498258 8153665 0 0 0 43305967 41625147 55579767 53000748 X 14050624 4948885 3725218 3196451 17775842 8145336 73355609 61146084 -9907197 276691 0 0 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9008646 809428 1842000 7976074 10305560 0 -1157914 139000 0 0 9008646 7772844 0 2671460 138744 0 0 10305560 7794497 549 -4702 17500 0 0 7772844 1933353 6001000 -119106 20750 0 0 7794497 0.7478 0.2046 0.0476 false false 10938147 933876 10004271 5978103 1919313 4058790 14063061 Security deposits 590142 Right of Use 32715166 33305308 Advances from U.S. Govt for Student 206830 Student Funds 144964 Right of Use Liability - Wicker Park 2884518 Right of Use Liability - Oak Brook 38388835 41625147 X 15053870 276691 0 276691 14777179 69879 592690 662569 15439748 24684376 0 0 24684376 69879 592690 662569 25346945 Schedule D, Part V, Line 4 Intended uses of endowment funds Net assets associated with endowment funds, including funds designated to function as endowment funds, are classified and reported based on the existence or absence of donor-imposed restrictions. The University's investment policy represents the current consensus of the endowment fund's investment philosophy and shall be reviewed from time to time to ensure that it continues to reflect the appropriate expectations, goals and objectives for the endowment fund. The University has interpreted the Uniform Prudent Management of Institutional Funds Act (UPMIFA) as requiring the preservation of the fair value of the original gift as of the gift date of the donor-restricted endowment funds absent explicit donor stipulations to the contrary. As a result of this interpretation, the University classifies as permanently restricted net assets: (A) The original value of gifts donated to the permanent endowment, (B) the original value of subsequent gifts to the permanent endowment and (C) accumulations to the permanent endowment made in accordance with the direction of the applicable donor gift instrument at the time the accumulation is added to the fund. The remaining portion of the donor-restricted endowment fund that is not classified in permanently restricted net assets is classified as temporarily restricted net assets until those amounts are appropriated for expenditure by the University in a manner consistent with the standard of Prudent prescribed by the State of Illinois in its enacted version of UPMIFA. In accordance with UPMIFA, the University considers the following factors in making a determination to appropriate or accumulate donor restricted endowment funds: (1) the duration and preservation of the endowment fund, (2) the purposes of the University and the donor restricted endowment fund, (3) general economic conditions, (4) the possible effect of inflation and deflation, (5) the expected total return from income and the appreciation of investments, (6) other resources of the University, and (7) the investment policies of the University. In September 2018, the University adopted its own investment and spending policies. The objective of these policies is to assure the financial health, independence, and future growth of the University's services and programs. The University's investment policy represents the current consensus of the endowment fund's investment philosophy and shall be reviewed from time to time to ensure that it continues to reflect the appropriate expectations, goals and objectives for the endowment fund. Also in September 2018, the Board approved the establishment and funding of a Board-Designated Endowment. The $6 million funding was provided from unrestricted funds held by the University. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The University was organized and incorporated in Illinois as a not-for-profit organization in July 2011. The University has a favorable determination letter from the Internal Revenue Service stating they are exempt from federal income taxes under Section 501(a) of the Internal Revenue Code (IRC) of 1986, as organized under Section 501(C)(3). The University follows guidance that clarifies the accounting for uncertainty in tax positions taken or expected to be taken in a tax return, including issues relating to financial statement recognition and measurement. This guidance provides that the tax effects from an uncertain tax position can only be recognized in the financial statements if the position is "more-likely-than-not" to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. The University is exempt from federal income tax under IRC Section 501(C)(3), though it is subject to tax on income unrelated to its exempt purposes, unless that income is otherwise excluded by the code. The University has processes presently in place to ensure the maintenance of its tax-exempt status; to identify and report unrelated income, to determine its filing and tax obligations in jurisdictions for which it has nexus; and to identify and evaluate other matters that may be considered tax positions. The University has determined that there are no material uncertain tax positions that require recognition or disclosure in the financial statements. Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements SCHOLARSHIPS - 592690 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements SCHOLARSHIPS - 592690 true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY The University's policy is that of non-discrimination of the public served by the institution and with respect to the University personnel. Advertisements, publications, brochures, applications for admissions, etc., contain a statement that the effect that the college complies with the federal non-discrimination regulations, and thereby does not discriminate on the basis of race, gender, religion, color, national origin, age, sexual orientation, or handicap disability. The racially non-discrimination policy can be found on the organization's website. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT The University applies for and receives educational grants, as approved on a case by case basis, from federal and state agencies. The University also participates annually in federal and state financial aid programs, specifically Pell, Federal Direct Loans, and various State of Illinois scholarship and grant programs for qualified students. The grants and loans are reported in the University's A-133 single audit. true Brown Memorial Scholarhip 1 500 Bud McClevey Scholarship 1 1500 CVS Health Foundation Scholarship 5 5000 Distinguished Nursing Scholarship 2 6000 Faculty & Staff Scholarship - Sister Sandi 7 3000 Foglia Family Foundation Scholarship 16 75000 Hermitage Scholarship 2 10000 Homer Thomas Charitable Trust 4 21499 Muehrcke Family Foundation 1 1000 President Scholarship 62 128500 President's Community Scholarship 1 1500 Proviso Township Undergrad Nursing School 6 55000 Ralph Jepsen Nursing Scholarship 1 500 Resu/Oak Point Need Award 188 245542 Ruth H Replogle Scholarship 1 500 Florence Nightingale Scholarship 1 3000 Founders Scholarship 1 3000 ResU/Oak Point Phi Theta Kappa Scholarship 6 18000 Hazel Orr Nursing Scholarship 1 3000 NFLP Loan Forgiveness 2 1149 ISKALI Scholarship 1 1000 Kurtz Mesenbrink Nursing Scholarship 1 500 Lorraine Haag Keener Scholarship 2 5000 Sharon Bolin Scholarship 1 3000 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. The University provides scholarships to students matriculating through its programs. Funds are applied directly to student accounts by the University's Office of Student Accounts in accordance with the applicable terms of the specific grant/scholarship. X true true X X X false true false false false false false true false THERESE SCANLAN EDD PRESIDENT 348230 0 100000 0 107725 0 53506 0 23742 0 633203 0 0 0 MATTHEW HUGHES EXEC VP, CFO, SECRETARY 264939 0 6645 0 10428 0 16259 0 3521 0 301792 0 0 0 MELISSA MURPHEY DEAN, COLLEGE OF NURSING 186290 0 5100 0 7692 0 12270 0 3882 0 215234 0 0 0 BRYAN TERRY VP STUDENT EXPERIENCE 250318 0 6375 0 0 0 13069 0 18734 0 288496 0 0 0 NANCY BRYAR MOORE VP PARTNERSHIP DEVELOPMENT & OPERATIONS 206281 0 6000 0 0 0 10966 0 21300 0 244547 0 0 0 BRYAN WATKINS CHIEF LEARNING OFFICER 194304 0 5000 0 0 0 10315 0 23014 0 232633 0 0 0 BRIGHAM TIMPSON CHIEF OF STAFF 143842 0 3750 0 0 0 5416 0 30992 0 184000 0 0 0 EMMA ORTIZ CONTROLLER 132208 0 3414 0 2626 0 7176 0 15286 0 160710 0 0 0 Schedule J, Part I, Line 1a Health or social club dues or initiation fees The University pays the monthly dues for a social club for the President. The use of the club is solely for business related functions, with no personal use. In accordance with guidance and due to the sole business use, the amount paid by the University is not considered taxable compensation for the President. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan The University's President participates in a supplemental non-qualified retirement plan, effective May 8, 2020. During 2022, distributions were made totaling $93,997.82: $52,477.82 on 2/25/2022 & $41,520 on 10/14/2022. Schedule J, Part I, Line 7 Non-fixed payments The University's President is eligible for a discretionary performance bonus based upon the Board's assessment of the President meeting or exceeding performance metrics. A Illinois Finance Authority 861091967 000000000 2020-10-30 8695000 See Supplemental Information. false false false A 541335 0 8695000 0 533095 0 173900 0 0 7988005 0 0 2022 false false true true A false false false false 0.0 0.0 0.0 false false true A false true false false true false false false true A true Schedule K, Part I, Column (f) DESCRIPTION OF PURPOSE ISSUER NAME: ILLINOIS FINANCE AUTHORITY Proceeds of the bond issuance are used to finance the planning, DESIGN, ACQUISITION, RENOVATION, CONSTRUCTION, FURNISHING ETC. OF EDUCATIONAL FACILITIES. Form 990, Part III, Line 1 Organization's Mission (continued) The purposes of the University include, but are not limited to: A) establish, maintain, operate, support an accredited, degree-granting institution; B) facilitate academic excellence through education and training; C) employ faculty and staff who are academically and experientially qualified and who maintain expertise appropriate to teaching service and scholarly activities; D) ensure academic excellence through on-going evaluation of its operations; E) provide financial assistance to students and others based on financial need, within the means of the University; F) facilitate opportunities for students and faculty to participate in community activities fostering an appreciation of community involvement; G) receive contributions or grants from any and all sources to be used in furthering the foregoing purposes; H) act consistently with and in support of the mission and values of the University; I) engage in and do any lawful act concerning any and all lawful business for which a not-for-profit corporation may be organized under the laws of Illinois. Form 990, Part VI, Line 1a Board Authority The Executive Committee may act on behalf of the Board during periods when the University Board is not in session, except to the extent prohibited by applicable law, the Articles of Incorporation or these Bylaws, when, upon the opinion of the Executive Committee, such action should not wait until the next Board meeting and, or as otherwise delegated by the University Board. The Executive Committee consists of the University Board Chair, the University Vice Chair, the Chairs of the Standing Committees, and the University President, each ex officio with vote. Form 990, Part VI, Line 11b Review of form 990 by governing body Prior to filing the Form 990, it is reviewed and approved by the University's finance, audit, and compliance committee. The review involves an in-depth presentation by University staff to the committee. The committee will also review the overall accuracy and completeness of the 990. Prior to filing the Form 990, the draft return is also provided to the remaining voting members of the University's governing body. They will review the draft return for overall accuracy and completeness. The president and CFO will also review the 990 for overall accuracy and completeness. Form 990, Part VI, Line 12c Conflict of interest policy Any director, officer, committee member, or employee who has a financial or personal interest in a contract or other transaction presented to the University board or a committee thereof, or to the University president or other authorized officer for authorization, approval, or ratification, shall make a prompt and full disclosure of such interest to such authorizing body or officer prior to such a body's or officer's formal consideration of and action on such contract or transaction. Such disclosure shall include any relevant and material facts known to such person about the contract or transaction which might reasonably be construed to be adverse to the University's interest. If the disclosure is made to the University board of a committee thereof by a University board of committee member, such body shall determine, by a majority vote (at a meeting at which the person with the potential conflict is not present, except to the extent necessary to respond to questions regarding the potential conflict and does not vote), whether the disclosure shows that a conflict of interest exists or may reasonably be construed to exist. If a conflict is deemed to exist the director or committee member having the conflict shall not vote on, nor use his or her personal influence on, nor be present or otherwise participate in, the discussions or deliberations with respect to such contract or transaction. Such person shall not be counted in determining the existence of a quorum at any meeting where the contract or transaction is under discussion. The minutes of the meeting shall reflect the disclosure made, any vote thereon and, where applicable, the abstention from voting and participation, and whether a quorum was present. Each director, committee member, officer, and key employee of the University shall complete an annual disclosure form as may be adopted from time to time by the University board, for the purpose of disclosing any interest of such individual in any contract to which the University is a party or in any transaction, business relationship, or other matter in which the University is involved. It is noted that board members are given the opportunity to disclose any conflicts at each and every board meeting. It is further noted that there is also an annual disclosure process. Form 990, Part VI, Line 15a Process to establish compensation of top management official Compensation for the University's president is determined and approved annually in an executive session of the board of directors in accordance with written policies and procedures adopted by its board of directors. The University uses market data pulled from compensation figures of local and like-kind higher education institutions to establish base salaries, benefits, and total compensation opportunities. The University participates in the CUPA-HR Salary Survey each year. The University Board of Directors retains a outside consulting firm to complete a compensation review for the President. Form 990, Part VI, Line 15b Process to establish compensation of other employees The University utilizes input from reviews of compensation figures of like-kind higher education institutions to establish base compensation for other officers and executives. This compensation is included in the operating budget which is reviewed and approved by the board. The University engages with an independent consultant to perform a thorough compensation review of the executive team from time to time. Form 990, Part VI, Line 19 Required documents available to the public Governing documents, conflict of interest policies and financial statements are not required disclosures pursuant to internal revenue code (IRC) section 6104. These documents are not available to the public at this time.