2026-05-12T08:55:50-05:00 2025-06-30 161131146 BONADIO & CO LLP 171 SULLYS TRAIL PITTSFORD NY 14534 990 2024-07-01 160743088 NAZARETH UNIVERSITY NAZA 5853892525 4245 EAST AVENUE ROCHESTER NY 14618 KAREN KUPPINGER VP FOR FINANCE AND ADMINISTRAT 5853892525 2025-11-15 1 1 JOSEPH PEPLIN P01311564 5853811000 2026-05-11 2024 2025-03-06 01:10:19Z DR ELIZABETH PAUL 4245 EAST AVENUE ROCHESTER NY 14618 140611531 0 X WWW.NAZ.EDU X 1924 NY NAZARETH UNIVERSITY FOSTERS INTEGRATED LEARNING THROUGH ACTION AND REFLECTION, EDUCATING WHOLE PERSONS WHO ARE GUIDED BY EMPATHY, COMMITTED TO EQUITY, AND PREPARED TO LEAD INNOVATION FOR OUR TIME. 32 30 2274 251 455515 259573 7586836 15134071 110995818 112736041 6337839 10393040 1426277 1783309 126346770 140046461 39930236 40400996 0 0 50969663 51293525 0 0 1473031 40300909 42574449 131200808 134268970 -4854038 5777491 291769437 300525168 58329034 57747041 233440403 242778127 X NAZARETH UNIVERSITY FOSTERS INTEGRATED LEARNING THROUGH ACTION AND REFLECTION, EDUCATING WHOLE PERSONS WHO ARE GUIDED BY EMPATHY, COMMITTED TO EQUITY, AND PREPARED TO LEAD INNOVATION FOR OUR TIME. 0 0 36366679 92839649 HIGHER EDUCATION INSTRUCTION-REFLECTS EXPENSES DIRECTLY RELATING TO THE DELIVERY OF QUALITY INSTRUCTIONAL PROGRAMS AT THE UNDERGRADUATE, GRADUATE, AND CONTINUING EDUCATION LEVELS. PROGRAMS OF STUDY ARE DELIVERED THROUGH THE COLLEGE OF LIBERAL ARTS, SCIENCES, BUSINESS & EDUCATION, AND COLLEGE OF VISUAL, PERFORMING ARTS & DESIGN. (2,275 TOTAL STUDENT FTES) 40400996 40400996 SCHOLARSHIP PROGRAMS: SCHOLARSHIPS AND GRANTS-REFLECTS THE COMPETITIVE SCHOLARSHIPS, NEED BASED AID, AND HIGHER EDUCATION OPPORTUNITY GRANTS AWARDED TO STUDENTS IN ORDER TO MAKE THE TOTAL COST OF ATTENDANCE MORE AFFORDABLE. (2,275 TOTAL STUDENT FTES) 16257561 19868117 AUXILIARY ENTERPRISES-PERTAINS TO THE OPERATIONS OF THE INSTITUTION THAT EXIST TO FURNISH A SERVICE TO STUDENTS, FACULTY, OR STAFF, AND THAT CHARGE A FEE THAT IS DIRECTLY RELATED TO, ALTHOUGH NOT NECESSARILY EQUAL TO, THE COST OF THE SERVICE. AUXILIARY ENTERPRISES ARE MANAGED AS ESSENTIALLY SELF-SUPPORTING ACTIVITIES. EXAMPLES ARE RESIDENCE HALLS, FOOD SERVICES, AND STUDENT HEALTH SERVICES. (2,275 TOTAL STUDENT FTES) 28003501 987723 ALL OTHER PROGRAM EXPENSES, INCLUDES STUDENT SERVICES, ACADEMIC SUPPORT AND ARTS CENTER. STUDENT SERVICES PERTAINS TO OFFICES SERVING STUDENTS INCLUDING REGISTRATION AND RECORDS, STUDENT DEVELOPMENT, CENTER FOR LIFE'S WORK, ENROLLMENT MANAGEMENT AND CENTER FOR STUDENT SUCCESS. ATHLETIC EXPENSES ARE ALSO INCLUDED IN THIS CATEGORY. ACADEMIC SUPPORT PERTAINS TO LIBRARY SERVICES, ACADEMIC ADVISEMENT, THE CENTER FOR INTERNATIONAL EDUCATION AND THE OFFICES OF THE DEANS, AMONG OTHERS. THE ARTS CENTER IS A PRESENTER OF EXCEPTIONAL MUSIC, THEATER AND DANCE PERFORMANCES. (2,275 TOTAL STUDENT FTES) 28003501 987723 121028737 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 0 1 0 1 0 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 3923 0 2274 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 32 30 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 NY CO LA WV FL CA X KAREN KUPPINGER 5853892525 4245 EAST AVE ROCHESTER NY 14618 ELIZABETH PAUL PRESIDENT AND TRUSTEE 50.00 X X 497935 0 35249 STEPHEN HILL FACULTY REPRESENTATIVE 35.00 X 71629 0 23193 YOLANDA BENITEZ TRUSTEE 2.00 X 0 0 0 STEPHEN BROWN TRUSTEE 2.00 X 0 0 0 SCOTT D CHAPMAN TRUSTEE 2.00 X 0 0 0 BRIAN COOPER TRUSTEE 2.00 X 0 0 0 JOHN DRAIN BOARD CHAIR 2.00 X X 0 0 0 EMIL DUDA TRUSTEE 2.00 X 0 0 0 SERGIO ESTEBAN TRUSTEE 2.00 X 0 0 0 CAROL A FITZSIMMONS TRUSTEE 2.00 X 0 0 0 TIMOTHY FOURNIER TRUSTEE 2.00 X 0 0 0 ROGER B FRIEDLANDER TRUSTEE 2.00 X 0 0 0 CRAIG GAFFNEY TRUSTEE 2.00 X 0 0 0 ANDREW R GALLINA BOARD VICE CHAIR 2.00 X X 0 0 0 JENNIFER GARSIN TRUSTEE 2.00 X 0 0 0 KENNETH GLAZER TRUSTEE 2.00 X 0 0 0 ANNE MCCAFFREY TRUSTEE 2.00 X 0 0 0 RICHARD A KAPLAN TRUSTEE 2.00 X 0 0 0 EDWARD LEVA TRUSTEE 2.00 X 0 0 0 DANIELLE ABRAMSON TRUSTEE 2.00 X 0 0 0 DUFFY PALMER TRUSTEE (LEFT 8/24) 2.00 X 0 0 0 RICHARD F PIERPONT TRUSTEE 2.00 X 0 0 0 ALLISON PRATT TRUSTEE 2.00 X 0 0 0 GRANT J RANDALL TRUSTEE 2.00 X 0 0 0 JEFFERY ROLOSON TRUSTEE 2.00 X 0 0 0 JUSTIN STEVENS TRUSTEE 2.00 X 0 0 0 CORAL SURGEON TRUSTEE 2.00 X 0 0 0 SUSAN GENTHNER TRUSTEE 2.00 X 0 0 0 RYAN FELTNER TRUSTEE 2.00 X 0 0 0 MICHAEL PERRONE TRUSTEE 2.00 X 0 0 0 MIGUEL VELAZQUEZ TRUSTEE 2.00 X 0 0 0 MARY LOUISE MITCHELL SSJ TRUSTEE 2.00 X 0 0 0 MAUREEN FINNEY PROVOST IN ACADEMIC AFFAIRS 50.00 X 245237 0 32076 KAREN KUPPINGER VP FOR FINANCE AND ADMINISTRATION 50.00 X 218945 0 15762 DARRELL BELL VP FOR ADVANCEMENT 50.00 X 200195 0 16832 WAYNE HILSON VP OF CULTURE, COMMUNITY, 50.00 X 152653 0 15123 DANIELLE BUCCI VP FOR STRATEGIC ENROLLMEN 50.00 X 197819 0 24925 KRISTEN GREEN ASSOCIATE VICE PRESIDENT FOR FINANCE AND CONTROLLE 50.00 X 134248 0 26276 DAMIKA ARNOLD CHIEF PEOPLE OFFICER 50.00 X 159301 0 17247 CATHERINE S RASMUSSEN DEAN SCHOOL OF HEALTH AND 50.00 X 162080 0 11756 THOMAS LAPPAS DEAN IN COLLEGE OF LIBERAL 50.00 X 160000 0 11581 KIMBERTY HARVEY FORMER ASSOCIATE PROVOST AND DEAN OF STUDENTS 50.00 X 146955 0 13958 YOUSUF GEORGE FORMER VP FOR STRATEGY AND INNOVA 50.00 X 169838 0 51826 2516835 0 295804 77 1 1 0 LECHASE CONSTRUCTION SERVICES 205 INDIGO CREEK DR ROCHESTER NY 14626 CONSTRUCTION 4458198 HARTER SECREST & EMERY LLP 1600 BAUSCH LOMB PLACE ROCHESTER NY 14604 LEGAL FEES 264101 DOMICELLO ENTERPRISES 1395 ALLEN ROAD PENFIELD NY 14526 CONSTRUCTION 241505 SWBR ARCHITECTS 260 E MAIN ST SUITE 4000 ROCHESTER NY 14604 ARCHITECTS 201704 AJ DOMICELLO CONTRACTING 1196 NORTHRUP ROAD PENFIELD NY 14526 CONSTRUCTION 124415 5 21720 3221440 11890911 150374 15134071 TUITION AND FEES 611310 92839649 92839649 ROOM AND BOARD 611310 18316431 18316431 OTHER AUXILIARY INCOME 611310 1579961 1551686 28275 112736041 3294465 3294465 114763 0 114763 114763 114763 7440805 32500 299248 75482 7141557 -42982 7098575 7098575 224777 21720 190340 34437 34437 INDIRECT COST RATE REIMBURSEMENT 900099 219146 219146 1414963 987723 427240 1634109 140046461 113695489 455515 10761386 40161371 40161371 239625 239625 1849975 732676 710080 407219 39648011 33943314 5056253 648444 1522896 1317084 182052 23760 5606412 4726892 752992 126528 2666231 2237251 362858 66122 353961 353961 106050 106050 890439 890439 1608997 1296671 299099 13227 927809 800227 127582 2653947 2048105 481241 124601 2109547 2053124 46627 9796 7484 7484 9294571 8582529 712042 921810 883596 21875 16339 230341 159225 58785 12331 1677485 1546447 131038 8798537 8226632 571905 1178937 1119990 58947 FOOD SERVICE 5691248 5548201 121542 21505 OTHER 5280596 4591491 687619 1486 ACADEMIC COURSE WAIVERS 842690 806802 34215 1673 134268970 121028737 11767202 1473031 663780 1477043 34177841 35374232 2107190 5284934 3047832 2527017 313610 210438 2052874 2374546 324169781 172865831 153861217 151303950 66463912 68286801 27312310 31765825 1768871 1920382 291769437 300525168 6248344 7655339 783416 764056 40379454 38397816 10917820 10929830 58329034 57747041 X 182205883 181639354 51234520 61138773 233440403 242778127 291769437 300525168 X 5777491 3780107 -219874 X X 0 1 X 1 1 1 X 7693544 11426289 8637845 7586836 15134071 50478585 7693544 11426289 8637845 7586836 15134071 50478585 6129904 44348681 1443489 1524404 2846672 2813771 3437503 12065839 15578 77125 157765 183671 455515 889654 421414 787033 1039783 831564 987723 4067517 67501595 549652616 0.65700 0.72260 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 8964 1 5137 0 14101 0 SCHEDULE C, PART II-B, LINE 1 THE UNIVERSITY IS A MEMBER OF A REGIONAL CHAMBER OF COMMERCE WHEREAS 10% OF THEIR ACTIVITIES ENGAGE IN STATE AND FEDERAL LOBBYING. IN ADDITION, THE PRESIDENT AS WELL AS TWO ADDITIONAL STAFF MEMBER AVERAGED 130 HOURS COMBINED IN FISCAL YEAR 2025 ENGAGED IN LOBBYING ACTIVITIES FOR THE UNIVERSITY. THESE ACTIVITIES INCLUDED PHONE CONVERSATIONS AND MEETINGS WITH LEGISLATORS AND OTHER GOVERNMENT OFFICIALS, SEEKING FEDERAL AND STATE AID FOR NAZARETH UNIVERSITY INITIATIVES. 93528773 2998400 9632648 1430694 2262728 102466399 84424711 1416646 11455123 1322768 2444939 93528773 77919182 2647719 8079213 1434947 2786456 84424711 86017483 831018 -6562902 1180090 1186327 77919182 68365634 362999 21939719 1161463 3489406 86017483 0.51943 0.26321 0.21736 0 0 8232974 8232974 149855469 57935223 91920246 759816 506202 253614 52150504 41879319 10271185 113171018 72545087 40625931 151303950 ALTERNATIVE INVESTMENTS 31765825 F 31765825 ACCRUED POST RETIREMENT BENEFIT COSTS 7301933 ASSET RETIREMENT OBLIGATION 3627897 10929830 102768455 3780107 -40400996 -36620889 139389344 890439 -233322 657117 140046461 93210857 233322 233322 92977535 890439 40400996 41291435 134268970 PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS -40,400,996. PART XI, LINE 4B - OTHER ADJUSTMENTS: GAIN ON DISPOSAL OF ASSETS -42,982. SPECIAL EVENT EXPENSES -190,340. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF ASSETS 42,982. SPECIAL EVENT EXPENSES 190,340. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 40,400,996. 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 UNIVERSITY USES ITS WEBSITE AS A MEANS OF PUBLICIZING ITS NON-DISCRIMINATORY POLICY. THE UNIVERSITY BELIEVES THAT NOTICES SUCH AS THIS, PREVIOUSLY PUBLISHED IN THE NEWSPAPER, ARE MORE EFFECTIVELY COMMUNICATED THROUGH THE USE OF ITS WEBSITE, HIGHLY VISIBLE AND FREQUENTED BY STUDENTS. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES FUNDING FROM THE US DEPARTMENT OF EDUCATION FOR THE FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT, FEDERAL WORK STUDY, FEDERAL PELL GRANT PROGRAM, AND TEACH GRANTS. NEW YORK STATE FUNDS VARIOUS PROGRAMS SUCH AS: HIGHER EDUCATIONAL OPPORTUNITY PROGRAM, TEACHERS OPPORTUNITY CORP., EISENHOWER GRANT, NYS TAP, NYS EXCELLENCE, AND NYS LOTTERY AND STATE APPROPRIATIONS IN THE FORM OF BUNDY AID AND HIGH NEEDS NURSING AID. 1 EAST ASIA AND THE PACIFIC GRANTMAKING AWARDED FINANCIAL AID 47500 EUROPE GRANTMAKING AWARDED FINANCIAL AID 33000 MIDDLE EAST AND NORTH AFRICA GRANTMAKING AWARDED FINANCIAL AID 12625 NORTH AMERICA GRANTMAKING AWARDED FINANCIAL AID 122500 RUSSIA AND NEIGHBORING STATES GRANTMAKING AWARDED FINANCIAL AID 24000 CENTRAL AMERICA AND THE CARIBBEAN PASSIVE FOREIGN INVESTMENTS PASSIVE FOREIGN INVESTMENTS 9557643 0 0 0 0 0 0 9797268 0 9797268 FINANCIAL AID EAST ASIA AND THE PACIFIC 3 47500 CREDIT ON THE STUDENT'S ACCOUNT FINANCIAL AID EUROPE 2 33000 CREDIT ON THE STUDENT'S ACCOUNT FINANCIAL AID MIDDLE EAST AND NORTH AFRICA 1 12625 CREDIT ON THE STUDENT'S ACCOUNT GRADUATE TUITION ASSISTANCE RUSSIA AND NEIGHBORING STATES 1 24000 CREDIT ON THE STUDENT'S ACCOUNT GRADUATE TUITION ASSISTANCE NORTH AMERICA 5 122500 CREDIT ON THE STUDENT'S ACCOUNT 1 0 0 1 1 0 PART I, LINE 2: INTERNATIONAL STUDENTS RECEIVING SCHOLARSHIPS ARE CODED SEPARATELY IN THE UNIVERSITY'S ERP SYSTEM. A REPORT IS GENERATED FROM THE UNIVERSITY'S ERP SYSTEM DETAILING EACH STUDENT AND THEIR SPECIFIC AWARDS. THIS REPORT IS REVIEWED PERIODICALLY TO MONITOR FUNDS. CENTENNIAL GALA 210217 210217 31341 139479 ATHLETICS GOLF TOURNAMENT 36280 21720 14560 19520 246497 21720 224777 50861 139479 190340 34437 1 COMPETITIVE SCHOLARSHIPS 1800 31859785 GRANTS IN AID 1357 6541529 HIGHER EDUCATION OPPORTUNITY PROGRAM (HEOP) 57 1760057 PART I, LINE 2: ALL UNIVERSITY SCHOLARSHIPS AND GRANTS ARE AWARDED THROUGH THE FINANCIAL AID PROCESS AND ARE RECORDED AS CREDITS ON THE STUDENTS' ACCOUNTS. THESE AWARDS HELP TO OFFSET THE COST OF TUITION, FEES AND ROOM AND BOARD. THE SCHOLARSHIPS AND GRANTS ARE TRACKED IN THE UNIVERSITY'S ERP SYSTEM AND MONITORED FOR COMPLIANCE WITHIN THE FINANCIAL AID OFFICE TO COMPLY WITH INTERNAL AND EXTERNAL REGULATIONS. X X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 ELIZABETH PAUL PRESIDENT AND TRUSTEE 393590 0 0 0 104345 0 17250 0 17999 0 533184 0 0 0 MAUREEN FINNEY PROVOST IN ACADEMIC AFFAIRS 245237 0 0 0 0 0 11695 0 20381 0 277313 0 0 0 KAREN KUPPINGER VP FOR FINANCE AND ADMINISTRATION 218945 0 0 0 0 0 15381 0 381 0 234707 0 0 0 DANIELLE BUCCI VP FOR STRATEGIC ENROLLMEN 197819 0 0 0 0 0 6926 0 17999 0 222744 0 0 0 YOUSUF GEORGE FORMER VP FOR STRATEGY AND INNOVA 169838 0 0 0 0 0 11900 0 39926 0 221664 0 0 0 DARRELL BELL VP FOR ADVANCEMENT 200195 0 0 0 0 0 10144 0 6688 0 217027 0 0 0 DAMIKA ARNOLD CHIEF PEOPLE OFFICER 159301 0 0 0 0 0 1308 0 15939 0 176548 0 0 0 CATHERINE S RASMUSSEN DEAN SCHOOL OF HEALTH AND 162080 0 0 0 0 0 11375 0 381 0 173836 0 0 0 THOMAS LAPPAS DEAN IN COLLEGE OF LIBERAL 160000 0 0 0 0 0 11200 0 381 0 171581 0 0 0 WAYNE HILSON VP OF CULTURE, COMMUNITY, 152653 0 0 0 0 0 8000 0 7123 0 167776 0 0 0 KIMBERTY HARVEY FORMER ASSOCIATE PROVOST AND DEAN OF 146955 0 0 0 0 0 7270 0 6688 0 160913 0 0 0 KRISTEN GREEN ASSOCIATE VICE PRESIDENT FOR FINANCE 134248 0 0 0 0 0 10500 0 15776 0 160524 0 0 0 PART I, LINE 1A SOCIAL CLUB MEMBERSHIPS PROVIDED FOR BUSINESS USE. A COUNTY OF MONROE INDUSTRIAL DEVELOPMENT AGENCY 161005429 610752EK9 2008-01-30 9030000 TO FINANCE CONSTRUCTION OF A BUILDING AND SITE IMPROVEMENTS 0 0 0 B MONROE COUNTY INDUSTRIAL DEVELOPMENT CORPORATION 510188852 61075TFT0 2013-06-13 13905000 REFUNDING OF SERIES 2001 0 0 0 C MONROE COUNTY INDUSTRIAL DEVELOPMENT CORPORATION 510188852 61075TTW8 2017-12-20 31645000 NEW CONSTRUCTION OF BUILDINGS AND REFUNDING OF 2011 BONDS 0 0 0 A 3880000 9030000 335820 8567632 126548 2009 0 0 1 1 B 7830438 14625806 448626 518 2013 1 0 1 1 C 5453232 32800499 754213 16613043 829051 14603746 2019 0 1 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 A 0 0 1 0 1 1 JP MORGAN CHASE BANK 30.000000000000 1 0 0 0 0 B 0 0 1 0 0 0 0 0 0 C 0 0 1 0 0 0 0 0 0 A 0 B 0 C 0 SCHEDULE K, PART II, LINE 3 COL A 08/04/2011 $23,765,000 MONROE COUNTY INDUSTRIAL DEVELOPMENT CORPORATION - BOND ISSUE A, AS REFERENCED IN SCHEDULE K PART I, DISCLOSES AN ISSUE (PART I, E) THAT DIFFERS FROM THE PROCEEDS OF ISSUE (PART II, LINE 3) EQUAL TO THAT OF THE DISCOUNT ASSOCIATED WITH THE ISSUE. SCHEDULE K, PART III, LINE 9, COL A 08/04/2011 $23,765,000 MONROE COUNTY INDUSTRIAL DEVELOPMENT CORPORATION - CURRENTLY THE UNIVERSITY DOES NOT HAVE A WRITTEN POLICY IN PLACE; HOWEVER, THERE ARE PROCEDURES BEING FOLLOWED TO ENSURE COMPLIANCE. SCHEDULE K, PART III, LINE 9, COL B 01/30/2008 $9,030,000 COUNTY OF MONROE INDUSTRIAL DEVELOPMENT AGENCY - CURRENTLY THE UNIVERSITY DOES NOT HAVE A WRITTEN POLICY IN PLACE; HOWEVER, THERE ARE PROCEDURES BEING FOLLOWED TO ENSURE COMPLIANCE. SCHEDULE K, PART III, LINE 9, COL C 6/13/2013 $13,905,000 MONROE COUNTY INDUSTRIAL DEVELOPMENT CORPORATION - CURRENTLY THE UNIVERSITY DOES NOT HAVE A WRITTEN POLICY IN PLACE; HOWEVER, THERE ARE PROCEDURES BEING FOLLOWED TO ENSURE COMPLIANCE. SCHEDULE K, PART II, LINE 3, COL C 06/13/2013 $13,905,000 MONROE COUNTY INDUSTRIAL DEVELOPMENT CORPORATION BOND ISSUE, AS REFERENCED IN SCHEDULE K PART I, DISCLOSES AN ISSUE (PART I, E) THAT DIFFERS FROM THE PROCEEDS OF ISSUE (PART II, LINE 3) EQUAL TO THAT OF THE PREMIUM ASSOCIATED WITH THE ISSUE. SCHEDULE K, PART III, LINE 9, COL D 12/20/2017 $31,645,000 MONROE COUNTY INDUSTRIAL DEVELOPMENT CORPORATION - CURRENTLY THE UNIVERSITY DOES NOT HAVE A WRITTEN POLICY IN PLACE; HOWEVER, THERE ARE PROCEDURES BEING FOLLOWED TO ENSURE COMPLIANCE. SCHEDULE K, PART II, LINE 3, COL D 12/20/2017 $31,645,000 MONROE COUNTY INDUSTRIAL DEVELOPMENT CORPORATION BOND ISSUE, AS REFERENCED IN SCHEDULE K PART I, DISCLOSES AN ISSUE (PART I, E) THAT DIFFERS FROM THE PROCEEDS OF ISSUE (PART II, LINE 3) EQUAL TO THAT OF THE PREMIUM ASSOCIATED WITH THE ISSUE. OFFICERS 59545 TUITION REMISSION X 7 134162 FAIR MARKET VALUE X ANTIQUE GRANDFATHER CLOCK 1 14000 FAIR MARKET VALUE X SIGNS FOR FUNDRAISING 1 1560 FAIR MARKET VALUE X DINNER FOR SPORTS TEAM 1 352 FAIR MARKET VALUE X MUSIC BOOKS 1 300 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE COMPOSITION CONSISTS OF THE CHAIR AND VICE CHAIR OF THE BOARD OF TRUSTEES, THE PRESIDENT OF THE UNIVERSITY, AND NO FEWER THAN TWO AND NO MORE THAN FOUR TRUSTEES ELECTED BY THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE SHALL SERVE FOR A TERM OF ONE YEAR AND UNTIL THEIR SUCCESSORS ARE ELECTED AND QUALIFIED. ALL COMMITTEE MEMBERS ARE ON THE GOVERNING BOARD. SCOPE OF AUTHORITY - THE COMMITTEE SHALL HAVE THE POWER TO ACT WHEN THE BOARD IS NOT IN SESSION, AND MAY EXERCISE ALL THE POWERS OF THE BOARD IN ALL MATTERS WHICH IN THE JUDGMENT OF THE EXECUTIVE COMMITTEE SHOULD NOT BE DELAYED UNTIL THE NEXT MEETING OF THE BOARD. THE EXECUTIVE COMMITTEE SHALL MAKE A FORMAL REPORT OF ITS ACTIONS, IF ANY, TO THE BOARD AT ITS NEXT REGULAR MEETING. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE, A SUB-COMMITTEE OF THE GOVERNING BODY, REVIEWS THE FORM 990 IN DETAIL PRIOR TO ITS FILING. AFTER APPROVAL OF THE AUDIT COMMITTEE, BUT PRIOR TO FILING, ACCESS TO THE FINAL DRAFT OF THE FORM 990 IS PROVIDED TO THE ENTIRE BOARD OF TRUSTEES VIA SECURE PORTAL. AT THE SAME TIME, EACH TRUSTEE IS NOTIFIED THAT THE RETURN HAS BEEN MADE AVAILABLE FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 14 WHILE VARIOUS DEPARTMENTS WITHIN THE UNIVERSITY HAVE SPECIFIC GUIDELINES THAT THEY FOLLOW RELATED TO DOCUMENT RETENTION AND DESTRUCTION, THERE IS NO INSTITUTION WIDE WRITTEN DOCUMENT RETENTION AND DESTRUCTION POLICY. FORM 990, PART VI, SECTION B, LINE 12C THE UNIVERSITY ANNUALLY DISTRIBUTES THE CONFLICT OF INTEREST POLICY TO THE TRUSTEES, OFFICERS, THE ASSISTANT SECRETARY TO THE BOARD AND THE SECRETARY TO THE UNIVERSITY. THE INFORMATION RECEIVED IS COMPILED, ANALYZED, MAINTAINED AND MONITORED BY THE PRESIDENT'S OFFICE. ALL RESULTS ARE FORWARDED TO THE CHAIR OF THE BOARD OF TRUSTEES, THE CHAIR OF THE AUDIT COMMITTEE, THE CHAIR OF THE TRUSTEESHIP COMMITTEE, UNIVERSITY'S PRESIDENT, AND VICE PRESIDENT FOR FINANCE AND ADMINISTRATION. ON A QUARTERLY BASIS THE CONTROLLER'S OFFICE REVIEWS ALL VENDOR PAYMENTS FOR CONFLICTS AND DISCLOSES REQUIRED ACTIVITY TO THE AUDIT COMMITTEE AT EACH MEETING. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION SUB-COMMITTEE, A SUB-COMMITTEE OF THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES, MEETS ANNUALLY TO REVIEW THE PRESIDENT'S PERFORMANCE AS COMPARED TO THE GOALS SET FORTH FROM THE PREVIOUS FISCAL YEAR. IN ADDITION, THE SUB-COMMITTEE'S RECOMMENDATIONS ALONG WITH DATA FROM AN INDEPENDENT COMPENSATION CONSULTANT ARE SUBMITTED TO THE EXECUTIVE COMMITTEE FOR REVIEW AND ENDORSEMENT. ONCE APPROVED BY THE EXECUTIVE COMMITTEE, THE RECOMMENDATIONS ARE CONSIDERED AND VOTED ON BY THE FULL BOARD OF TRUSTEES IN EXECUTIVE SESSION. COMPENSATION LEVELS FOR THE VICE PRESIDENTS OF THE UNIVERSITY ARE DETERMINED ANNUALLY BY THE PRESIDENT, WITH REVIEW AND ENDORSEMENT FROM THE EXECUTIVE COMMITTEE OF THE BOARD. INPUTS INCLUDE PERFORMANCE TO ANNUAL GOALS, AN OVERALL ASSESSMENT OF SIGNIFICANT CONTRIBUTIONS TO AND LEADERSHIP OF THE UNIVERSITY, AS WELL AS COMPETITIVENESS OF PAY RELATIVE TO COMPARABLE INSTITUTIONS. ON A PERIODIC BASIS, AN INDEPENDENT CONSULTANT IS ENGAGED TO REVIEW FOR EACH VICE PRESIDENT, TO PROVIDE COMPETITIVE MARKET INFORMATION, AND TO RECOMMEND ADJUSTMENTS FOR CONSIDERATION BY THE PRESIDENT AND EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: OTHER CHANGES IN NET ASSETS 195,820. CHANGE IN OBLIGATIONS OF POSTRETIREMENT BENEFIT PLAN -415,694. FORM 990, PART XII, LINE 2C: NO CHANGES WERE MADE TO OVERSIGHT PROCESS OR SELECTION PROCESS RELATED TO INDEPENDENT AUDITORS DURING THE CURRENT YEAR.