2026-04-29T11:53:11-05:00 2025-06-30 410746749 CLIFTONLARSONALLEN LLP 121 SOUTH TEJON STREET SUITE 1100 COLORADO SPRINGS CO 80903 990 2024-07-01 420681046 MOUND FARM HOLDINGS INC MOUN 3193631323 1330 ELMHURST DRIVE NE CEDAR RAPIDS IA 52402 TODD OLSON PRESIDENT 3193631323 2026-04-27 1 1 SARAH HINTZ P00492291 7196350330 2026-04-07 2024 2025-03-06 01:10:19Z X MOUNT MERCY UNIVERSITY TODD OLSON 1330 ELMHURST DRIVE NE CEDAR RAPIDS IA 52402 71779842 0 X WWW.MTMERCY.EDU X 1928 IA PROVIDE UNDERGRADUATE AND GRADUATE HIGHER EDUCATION FOR APPROXIMATELY 1,400 STUDENTS. X 26 26 723 250 167281 60035 3831213 2417721 47042786 49126374 1950630 1030260 235353 -3395 53059982 52570960 22903616 134919489 0 0 18542146 16604536 112000 92680 625783 14623602 13733775 56181364 165350480 -3121382 -112779520 100157191 0 15293241 0 84863950 0 X CATHOLIC UNIVERSITY PROVIDING STUDENT FOCUSED BACCALAUREATE AND GRADUATE EDUCATION IN THE SPIRIT OF THE SISTERS OF MERCY. WELCOMES WOMEN AND MEN OF ALL BELIEFS TO JOIN THE COMMUNITY IN PURSUIT OF EDUCATION AND SERVICE TO THOSE IN NEED. PROMOTES REFLECTIVE JUDGMENT, STRATEGIC COMMUNICATION, THE COMMON GOOD AND PURPOSEFUL LIVING THROUGH A CORE CURRICULUM, LIBERAL ARTS AND PROFESSIONAL MAJORS AND STUDENT DEVELOPMENT PROGRAMS. STRIVE FOR EXCELLENCE IN ACCOMPLISHING OUR MISSION THROUGH FOUR INTERDEPENDENT GOALS: USING REFLECTIVE JUDGMENT, ENGAGING IN STRATEGIC COMMUNICATION, SERVING THE COMMON GOOD AND PROMOTING PURPOSEFUL LIVING. 0 1 109268325 109265602 43148544 INSTRUCTION: PROVIDE GRADUATE AND UNDERGRADUATE HIGHER EDUCATION IN PROGRAMS INCLUDING TRADITIONAL DAYTIME FORMAT, NON TRADITIONAL EVENING FORMAT, ONLINE, AND ACCELERATED EVENING AND WEEKEND FORMAT. DEGREES GRANTED INCLUDE MFT, MSN, MBA, MSL, MSSCM, MA AND MS IN EDUCATION, DMFT, AND DNP (GRADUATE PROGRAMS) AND BA, BS, BAS, BSN AND BBA (UNDERGRADUATE PROGRAMS). FOR FALL OF 2024, THERE WERE 1,021 TRADITIONAL, 16 ACCELERATED, 164 GRADUATE, 100 ONLINE TRADITIONAL, AND 101 ONLINE GRADUATE STUDENTS. TOTAL UNDERGRADUATE FTE WAS 1,074; GRADUATE FTE WAS 231. 12363180 0 5977830 AUXILIARY SERVICES: PROVIDE RESIDENCE HALLS WITH CAPACITY OF 450 STUDENTS, MEALS (FOOD PLANS) FOR RESIDENTIAL AND NON-RESIDENTIAL STUDENTS AND BOOKSTORE FOR TEXTBOOK PURCHASES. 12807425 0 0 ACADEMIC SUPPORT: PROVIDE ACADEMIC RESOURCES TO ALL STUDENTS INCLUDING LIBRARY SERVICES, COMPUTER CENTER AND LABS, ACADEMIC ASSISTANCE AND CAMPUS MINISTRIES. 25653887 25653887 0 STUDENT SERVICES: ATHLETICS, HEALTH SERVICES, ADMISSIONS AND FINANCIAL AID. 25653887 25653887 0 160092817 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 1 1 0 1 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 2137 0 1 723 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 26 26 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK CO FL IA LA MD MI ND NH NV NY OH OK OR PA SC UT WA X TODD OLSON 3193631323 1330 ELMHURST DRIVE NE CEDAR RAPIDS IA 52402 CHARLES ROHDE BOARD CHAIR & TRUSTEE 1.00 X X 0 0 0 MICHELE BUSSE BOARD CHAIR-ELECT & TRUSTEE 1.00 X X 0 0 0 SISTER MARGARET WEIGEL BOARD SECRETARY & TRUSTEE 1.00 X X 0 0 0 BRANDT WORLEY IMMEDIATE PAST CHAIR & TRUSTEE 1.00 X X 0 0 0 BARBARA BARHAMAND TRUSTEE 1.00 X 0 0 0 TERRI CHRISTOFFERSEN TRUSTEE 1.00 X 0 0 0 TAMI CULVER TRUSTEE 1.00 X 0 0 0 DR MELANIE GIESLER-SPELLMAN TRUSTEE 1.00 X 0 0 0 MAGDA GOLOBIC TRUSTEE 1.00 X 0 0 0 SISTER DELORES HANNON TRUSTEE 1.00 X 0 0 0 RONALD HEROLD TRUSTEE 1.00 X 0 0 0 NANCY KASPAREK TRUSTEE 1.00 X 0 0 0 ROBERT KAZIMOUR TRUSTEE 1.00 X 0 0 0 DR RICHARD KETTELKAMP TRUSTEE 1.00 X 0 0 0 BARBARA KNAPP TRUSTEE 1.00 X 0 0 0 JASON MILLER TRUSTEE 1.00 X 0 0 0 JAMES NIKRANT TRUSTEE 1.00 X 0 0 0 SISTER SUSAN O'CONNOR TRUSTEE 1.00 X 0 0 0 SISTER LAURA REICKS TRUSTEE 1.00 X 0 0 0 DR VINCENT REID TRUSTEE 1.00 X 0 0 0 LEANN RIDGEWAY TRUSTEE 1.00 X 0 0 0 JOHN RINDERKNECHT TRUSTEE 1.00 X 0 0 0 DYAN SMITH TRUSTEE 1.00 X 0 0 0 KRISTEN TROVAS TRUSTEE 1.00 X 0 0 0 MICHAEL WEHR TRUSTEE 1.00 X 0 0 0 DR RUTH WHITE TRUSTEE 1.00 X 0 0 0 TODD OLSON PRESIDENT 40.00 X 258030 0 68588 BRENDA HAEFNER VP DEV & ALUMNI RELAT. (THRU 4/24) 40.00 X 107722 0 22237 TOM CASTLE PROVOST 40.00 X 134586 0 36569 BRITTNEY BURMAHL VP FOR BUSINESS & FINANCE 40.00 X 113215 0 28215 RITU SHANDILYA ASSOC. PROF. OF COMP. & DATA SCIENCE 40.00 X 102452 0 10593 JAY COLEMAN VP ENROLLMENT & MARKETING 40.00 X 135084 0 33354 KIM BRO DEAN COLLEGE OF NURSING (THRU 1/25) 40.00 X 121647 0 24689 TOM DOERMANN VP FOR OPERATIONS 40.00 X 133332 0 36924 JENNIFER RASMUSSEN PROFESSOR OF EDUCATION & DEPT CHAIR 40.00 X 103564 0 11155 1209632 0 272324 10 0 1 0 ARAMARK CORPORATION 6000 FELDWOOD ROAD COLLEGE PARK GA 30349 FOOD SERVICE 2078888 EAB GLOBAL 2445 M STREET NW WASHINGTON DC 20037 STUDENT RECRUITMENT & MARKETING SERVICES 814006 RINDERKNECHT ASSOCIATES 1000 29TH AVENUE SW CEDAR RAPIDS IA 52404 CONSTRUCTION 398222 KONE ONE KONE COURT MOLINE IL 61265 ELEVATOR MAINTENANCE 272082 BRECKE MECHANICAL CONTRACTORS 4140 F AVE NW CEDAR RAPIDS IA 52405 MECHANICAL CONTRACTING 243781 10 81038 171603 2165080 6250 2417721 TUITION & FEES 611310 43148544 43148544 AUXILIARY SERVICES 611710 4813642 4813642 FEES & ASSESSMENTS 611710 1164188 1164188 49126374 904506 167281 737225 19318631 19192877 125754 125754 125754 12610 81038 16005 -3395 -3395 52570960 49126374 167281 859584 109265602 109265602 21323018 21323018 4330869 4330869 581026 522923 58103 13429599 12254843 884283 290473 189750 178957 7188 3605 1419454 1297592 91358 30504 984707 865656 94926 24125 7608 7608 98616 98616 92680 92680 159562 159562 3805279 2646060 1158747 472 759606 515645 225808 18153 319083 280315 37173 1595 32316 21937 9607 772 1385620 1226058 159562 155269 105401 46157 3711 106934 72591 31788 2555 457995 443751 11725 2519 2622555 2540994 67137 14424 589743 518089 68705 2949 ATHLETICS 1382448 938450 410961 33037 EQUIP, SUPPLIES, MAINT. 883392 599675 262606 21111 OTHER EXPENSE 736201 498898 219834 17469 MEMBERSHIP & JOURNALS 156343 106131 46476 3736 75205 62285 9130 3790 165350480 160092817 4631880 625783 2500 0 9935500 0 843558 0 815430 0 1256420 0 0 0 44661556 0 25832183 0 13453665 0 355090 0 3001289 0 100157191 0 2164618 0 344852 0 12320933 0 85714 0 377124 0 15293241 0 X 42156634 0 42707316 0 84863950 0 100157191 0 X -112779520 2904072 25011498 X X 0 1 X 1 1 1 X 9583078 8975303 6462921 3831213 2417721 31270236 9583078 8975303 6462921 3831213 2417721 31270236 2503959 28766277 510095 729919 617703 897894 758812 3514423 7832 32542 6951 38403 85728 812993 237169 1050162 35920549 239806151 0.80080 0.81900 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: INSURANCE PROCEEDS - 2022 AMOUNT: $ 812,993. 2023 AMOUNT: $ 237,169. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 44258176 504070 4768899 2050000 47481145 39359153 2258674 4254295 1530000 83946 44258176 34358994 3477186 2742973 1130000 90000 39359153 36315412 1029403 -1852807 1030000 103041 34358994 27783955 2073210 7592958 1010000 124711 36315412 0.00000 0.00000 0.00000 0 0 0 X PART V, LINE 4: SCHOLARSHIPS, ACADEMIC AND PLANT AND FACILITY SUPPORT. ENDOWMENT FUNDS WERE TRANSFERRED TO ST. AMBROSE UNIVERSITY UPON MERGER. PART X, LINE 2: THE UNIVERSITY IS RECONGIZED AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE UNIVERSITY MAY BE SUBJECT TO FEDERAL AND STATE INCOME TAXES ON ANY NET INCOME FROM UNRELATED BUSINESS ACTIVITIES. THE UNIVERSITY FILES A FORM 990 (RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX) ANNUALLY AND UNRELATED BUSINESS INCOME (UBI) IS REPORTED ON FORM 990-T, AS APPROPRIATE. MANAGEMENT HAS EVALUATED THEIR MATERIAL TAX POSITIONS, WHICH INCLUDE SUCH MATTERS AS THE TAX EXEMPT STATUS AND VARIOUS POSITIONS RELATIVE TO POTENTIAL SOURCES OF UBI. AS OF JUNE 30, 2025 AND 2024, THERE WERE NO UNCERTAIN TAX POSITIONS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 MOUNT MERCY UNIVERSITY'S HOMEPAGE DISPLAYS ITS TITLE IX NONDISCRIMINATORY POLICY TO THE PUBLIC. SCHEDULE E, PART I, LINE 6 MOUNT MERCY UNIVERSITY RECEIVES FEDERAL AND STATE FINANCIAL AID AND GRANTS. 1 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 8027451 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 SCHOLARSHIPS 434628 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 FINANCIAL AID 507067 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 SCHOLARSHIPS 2670956 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 SCHOLARSHIPS 45000 RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, 0 0 SCHOLARSHIPS 96500 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 SCHOLARSHIPS 430998 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 SCHOLARSHIPS 145720 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 4488673 0 0 0 0 0 0 12358320 4488673 16846993 INSTITUTIONAL SCHOLARSHIPS - ACADEMIC DEANS, PRESIDENT, LEGACY, ENGAGEMENT, ATHLETICS, MERCY, ETC. CENTRAL AMERICA AND THE CARIBBEAN 16 434628 STUDENT ACCOUNT PAYMENT PROCESS N/A N/A INSTITUTIONAL SCHOLARSHIPS - ACADEMIC DEANS, PRESIDENT, LEGACY, ENGAGEMENT, ATHLETICS, MERCY, ETC. EAST ASIA AND THE PACIFIC 17 507067 STUDENT ACCOUNT PAYMENT PROCESS N/A N/A INSTITUTIONAL SCHOLARSHIPS - ACADEMIC DEANS, PRESIDENT, LEGACY, ENGAGEMENT, ATHLETICS, MERCY, ETC. EUROPE (INCLUDING ICELAND & GREENLAND) 89 2670956 STUDENT ACCOUNT PAYMENT PROCESS N/A N/A INSTITUTIONAL SCHOLARSHIPS - ACADEMIC DEANS, PRESIDENT, LEGACY, ENGAGEMENT, ATHLETICS, MERCY, ETC. MIDDLE EAST AND NORTH AFRICA 2 45000 STUDENT ACCOUNT PAYMENT PROCESS N/A N/A INSTITUTIONAL SCHOLARSHIPS - ACADEMIC DEANS, PRESIDENT, LEGACY, ENGAGEMENT, ATHLETICS, MERCY, ETC. NORTH AMERICA 3 96500 STUDENT ACCOUNT PAYMENT PROCESS N/A N/A INSTITUTIONAL SCHOLARSHIPS - ACADEMIC DEANS, PRESIDENT, LEGACY, ENGAGEMENT, ATHLETICS, MERCY, ETC. SOUTH AMERICA 15 430998 STUDENT ACCOUNT PAYMENT PROCESS N/A N/A INSTITUTIONAL SCHOLARSHIPS - ACADEMIC DEANS, PRESIDENT, LEGACY, ENGAGEMENT, ATHLETICS, MERCY, ETC. SUB-SAHARAN AFRICA 6 145720 STUDENT ACCOUNT PAYMENT PROCESS N/A N/A 0 0 0 1 1 0 PART I, LINE 2: ALL INSTITUTIONAL FINANCIAL AID FOR INTERNATIONAL STUDENTS IS MONITORED IN THE SAME MANNER AS DOMESTIC STUDENTS WITH SET ACADEMIC AND OTHER AWARDS CRITERIA FOR ATTENDING ON CAMPUS. SEE FULL EXPLANATION ON SCHEDULE I, PART IV. PART I, LINE 3: ACCRUAL METHOD X X X X X X X 1 EAB GLOBAL INC 2445 M STREET NW WASHINGTON DC 20037 DATA ANALYSIS, CAMPAIGN DELIVERY, DEVELOPMENT AND DIGITAL MA 0 399050 92680 306370 399050 92680 306370 AK AL AR AZ CA CO CT DC DE FL GA HI IA ID IL IN KS KY LA MD ME MI MN MO MS MT NC ND NE NH NJ NM NV NY OH OK OR PA RI SC SD TN TX UT VA VT WA WI WV WY GOLF OUTING 93648 81038 12610 477 10007 665 4856 93648 81038 12610 477 10007 665 4856 16005 -3395 1 ST AMBROSE UNIVERSITY 518 W LOCUST ST DAVENPORT IA 52803 420703280 501C3 41311600 67954002 BOOK BALANCE FIXED ASSETS TRANSFERRED ASSET TRANSFER DUE TO MERGER 1 0 OTHER-IOWA COLLEGE FOUNDATION & CARVER GRANT 12 29777 N/A N/A SEOG-INSTITUTIONAL PORTION 208 52297 N/A N/A INSTITUTIONAL SCHOLARSHIPS 875 21240944 N/A N/A PART I, LINE 2: THE ACADEMIC PROGRESS OF FINANCIAL AID RECIPIENTS IS MONITORED A MINIMUM OF ONCE EACH ACADEMIC YEAR. STUDENTS SHOULD CONTACT THE FINANCIAL AID OFFICE WITH QUESTIONS REGARDING THE INTENT AND/OR INTERPRETATION OF THESE STANDARDS. COMPLETION RATE AND GRADE POINT AVERAGE (GPA) REQUIREMENTS FULL-TIME STUDENTS (STUDENTS ATTEMPTING 12 OR MORE CREDIT HOURS EACH SEMESTER) MUST PROGRESS ACCORDING TO THE FOLLOWING SCHEDULE: MINIMUM CREDITS MINIMUM REQUIRED COMPLETED CUMULATIVE GPA YEAR 1 24 2.00 YEAR 2 48 2.00 YEAR 3 72 2.00 YEAR 4 96 2.00 YEAR 5 123 2.00 THESE CREDIT HOURS MUST BE EARNED DURING THE ACADEMIC YEAR (FALL, WINTER AND SPRING). HOWEVER, IF A STUDENT DOES NOT MEET THESE REQUIRED HOURS, THEY MAY BE EARNED DURING THE FOLLOWING SUMMER SESSION(S). FAILURE TO ACHIEVE THIS STANDARD BY THE END OF THE SUMMER WILL RESULT IN THE LOSS OF FINANCIAL AID ELIGIBILITY UNTIL THE COMPLETED CUMULATIVE HOURS MEET THE MINIMUM STANDARDS. LOSS OF AID IS NOT THE SAME AS ACADEMIC SUSPENSION, WHICH IS HANDLED BY THE VICE PRESIDENT OF ACADEMIC AFFAIRS. PART-TIME STUDENTS MUST SUCCESSFULLY COMPLETE ONE-HALF OF THE CREDIT HOURS THEY ATTEMPT. COMBINED STUDENTS (STUDENTS BLENDING TERMS OF FULL- AND PART-TIME ENROLLMENT) MUST ACHIEVE A CUMULATIVE TOTAL THAT SATISFIES THE COMBINED FULL- AND PART-TIME STANDARDS. STUDENTS WHO DO NOT ACHIEVE THE MINIMUM CUMULATIVE GPA ARE GRANTED ONE PROBATIONARY SEMESTER IN WHICH TO RAISE THEIR CUMULATIVE GPA TO THE MINIMUM. FAILURE TO ACHIEVE THIS STANDARD AT ANY POINT FOLLOWING THE PROBATIONARY SEMESTER RESULTS IN THE LOSS OF FINANCIAL AID ELIGIBILITY UNTIL THE CUMULATIVE GPA MEETS THE MINIMUM STANDARDS. PART III, COLUMN (B): AWARD LETTERS ARE ISSUED TO PROSPECTIVE STUDENTS WITH THE ELIGIBLE INSTITUTIONAL AID IN ADDITION TO OTHER KNOWN STATE/FEDERAL/OTHER GRANTS PRIOR TO STUDENTS ATTENDING MOUNT MERCY. THE NUMBER OF RECIPIENTS PROVIDED IS BASED ON ACTUAL AWARDED FINANCIAL AID INCLUDING INSTITUTIONAL SCHOLARSHIPS/DISCOUNTS. X 1 1 X X X X 1 0 0 0 0 0 0 0 0 TODD OLSON PRESIDENT 240000 0 0 0 18030 0 9415 0 59173 0 326618 0 0 0 TOM CASTLE PROVOST 134586 0 0 0 0 0 5571 0 30998 0 171155 0 0 0 TOM DOERMANN VP FOR OPERATIONS 133332 0 0 0 0 0 5179 0 31745 0 170256 0 0 0 JAY COLEMAN VP ENROLLMENT & MARKETING 135084 0 0 0 0 0 4908 0 28446 0 168438 0 0 0 PART I, LINE 1A THE PRESIDENT AND VP FOR DEVELOPMENT HAVE COUNTRY CLUB MEMBERSHIPS PAID FOR BY THE UNIVERSITY AS PART OF THEIR REGULAR JOB RESPONSIBILITIES. THE UNIVERSITY'S FACILITIES WERE USED IN CARRYING OUT THESE RESPONSIBILITIES. THIS BENEFIT WAS NOT INCLUDED IN THEIR TAXABLE COMPENSATION. PART I, LINE 4A BRENDA HAEFNER'S COMPENSATION REPORTED ON FORM 990, PART VII INCLUDED $105,000 FOR SEVERANCE; TERMS AND CONDITIONS WERE AS FOLLOWS: SEPARATION PAYMENT ASSETS 2025-06-03 109265602 BOOK VALUE 420703280 ST AMBROSE UNIVERSITY 518 W LOCUST ST DAVENPORT IA 52803 501(C)(3) 1 1 0 0 PART II, LINE 2E: PERSON(S) INVOLVED: 2A. MICHELLE BUSSE, SISTER MARGARET WEIGEL, AND DYAN SMITH2B. TODD OLSON, TOM CASTLE, TOM DOERMANN, TODD COLEMAN, BRITTNEY BURMAHL, LONNA DREWELOW, CURTIS SANDERS, JENNIFER RASMUSSEN, RITU SHANDILYA, DOUG MCPHEE, AND LACEY RITTER PART II, LINE 2E: EXPLANATION OF INVOLVEMENT: 2A. BOARD MEMBERS WHO TRANSITIONED TO BECOME BOARD MEMBERS OF ST. AMBROSE UNIVERSITY AS PART OF THE MERGER. 2B. ALL EMPLOYEES LISTED TRANSITIONED TO EMPLOYEES OF ST. AMBROSE UNIVERSITY AS PART OF THE MERGER. FORM 990, PART III, LINE 3 MOUNT MERCY UNIVERSITY MERGED WITH ST. AMBROSE UNIVERSITY DURING FY25. AS A RESULT OF THAT MERGER ST. AMBROSE TOOK OVER ALL PROGRAMS FROM MOUNT MERCY UNIVERSITY. FORM 990, PART VI, SECTION A, LINE 1A ALL MEMBERS OF THE EXECUTIVE COMMITTEE ARE ON THE GOVERNING BOARD. IT SHALL ALSO BE THE RESPONSIBILITY OF THE EXECUTIVE COMMITTEE TO ANNUALLY EVALUATE THE OFFICE OF THE PRESIDENT AND TO ADVISE THE PRESIDENT ACCORDINGLY IN THE PERFORMANCE OF THE PRESIDENT'S RESPONSIBILITIES. AMONG ITS RESPONSIBILITIES ARE RECOMMENDING THE ANNUAL SALARY, BENEFITS, AND RELATED MATTERS TO BE ACCORDED TO THE PRESIDENT AND MEMBERS OF THE PRESIDENT'S CABINET. IT IS ALSO THE RESPONSIBILITY OF THIS COMMITTEE TO ESTABLISH THE PROCESS FOR PRESIDENTIAL SEARCHES. AT LEAST ONCE EVERY FIVE (5) TO TEN (10) YEAR PERIOD OF PRESIDENTIAL INCUMBENCY, IF THE PRESIDENT AND BOARD OF TRUSTEES ARE PREPARED TO RENEW A LONG-TERM COMMITMENT TO EACH OTHER, THE PRESIDENT AND THE BOARD SHALL PARTICIPATE IN A COMPREHENSIVE JOINT REVIEW PROCESS TO BE CONDUCTED AS THE BOARD SHALL THEN DETERMINE. FORM 990, PART VI, SECTION A, LINE 2 TRUSTEES JIM NIKRANT AND BARBARA KNAPP HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE ST. AMBROSE UNIVERSITY BOARD OF TRUSTEES REVIEWS THE 990 PRIOR TO IT BEING FILED AND VOTES TO ACCEPT IT. EACH BOARD MEMBER RECEIVES A COPY OF THE COMPLETED 990 PRIOR TO THE RETURN BEING FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS AND OFFICERS OF THE INSTITUTION ARE REQUIRED TO DISCLOSE ALL RELATIONSHIPS AND BUSINESS AFFILIATIONS THAT REASONABLY COULD GIVE RISE TO A CONFLICT OF INTEREST. THIS IS DOCUMENTED WITH AN ANNUAL CONFLICT OF INTEREST QUESTIONNAIRE. ALL DISCLOSURES REQUIRED UNDER THE CONFLICT OF INTEREST POLICY MUST BE DIRECTED IN WRITING TO THE SECRETARY OF THE BOARD WHO, TOGETHER WITH THE UNIVERSITY COUNSEL, SHALL BE RESPONSIBLE FOR THE ADMINISTRATION OF THIS POLICY. MATTERS UNDER THIS POLICY CONCERNING TRUSTEES SHALL BE REPORTED INITIALLY TO THE CHAIR OF THE BOARD FOR APPROPRIATE ACTION; THOSE CONCERNING STAFF WILL BE REFERRED INITIALLY TO THE PRESIDENT. INFORMATION DISCLOSED TO THE SECRETARY OR PRESIDENT SHALL BE HELD IN CONFIDENCE EXCEPT WHEN THE BEST INTEREST OF THE INSTITUTION WOULD BE SERVED BY DISCLOSING THE INFORMATION TO THE BOARD IN EXECUTIVE SESSION. TRUSTEES OR OFFICERS WHO HAVE DECLARED OR BEEN FOUND TO HAVE CONFLICT OF INTEREST IN ANY MATTER BEFORE THE ADMINISTRATION OR THE BOARD SHALL REFRAIN FROM PARTICIPATING IN CONSIDERATION OF THE PROPOSED TRANSACTION, UNLESS FOR SPECIAL REASONS THE BOARD OR ADMINISTRATION REQUESTS INFORMATION OR INTERPRETATION FROM THE PERSON OR PERSONS INVOLVED. THE PERSON OR PERSONS INVOLVED SHOULD NOT VOTE ON SUCH MATTERS AND SHOULD NOT BE PRESENT AT THE TIME OF VOTE. THE ORGANIZATION DOCUMENTS ITS PROCEEDINGS AND FINDINGS IN ITS MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT IS ON A WRITTEN EMPLOYMENT CONTRACT. THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE SALARY AND BENEFITS OF THE PRESIDENT AND KEY OFFICERS OF THE UNIVERSITY ANNUALLY. THE UNIVERSITY USES COMPARATIVE SALARY DATA FROM CUPA (COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION) AND IAICU (IOWA ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES). MOUNT MERCY PAYS TO RECEIVE THE INFORMATION FROM CUPA AND PAYS AN ANNUAL FEE FOR MEMBERSHIP IN IAICU. SEE SCHEDULE J, PART III. THE COMPENSATION COMMITTEE EITHER APPROVES THE BUDGET OR MAKES RECOMMENDATIONS FOR ADJUSTMENTS BASED UPON THE COMPARATIVE DATA SUPPLIED. ALL COMPENSATION DECISIONS ARE CONTEMPORANEOUSLY DOCUMENTED. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2025. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -27,814. GAIN/LOSS FMV REMEASUREMENT 25,039,312. FORM 990, PART XII, LINE 2C AUDIT AND 990 APPROVAL NOW COMPLETED THROUGH THE ST. AMBROSE UNIVERSITY BOARD OF TRUSTEES DUE TO THE MERGER WITH ST. AMBROSE UNIVERSITY ON JUNE 4, 2025.