2026-05-11T07:45:59-05:00 2025-06-30 410746749 CLIFTONLARSONALLEN LLP 121 SOUTH TEJON STREET SUITE 1100 COLORADO SPRINGS CO 80903 990 2024-07-01 237055802 CONCORDIA UNIVERSITY FOUNDATION CONC 7087718300 7400 AUGUSTA STREET RIVER FOREST IL 603051499 JOHN THOELKE VICE PRESIDENT FOR FINANCE, CFO 7087718300 2026-05-03 1 1 SARAH HINTZ P00492291 7196350330 2026-04-16 2024 2025-03-06 01:10:19Z JOHN THOELKE 7400 AUGUSTA STREET RIVER FOREST IL 603051499 3581005 0 X WWW.CUCHICAGO.EDU X 1969 IL THE PURPOSE OF THE FOUNDATION IS TO ASSIST IN THE ACTIVITIES OF CONCORDIA UNIVERSITY. 12 9 0 25 0 0 1330631 1069970 0 0 5271604 584849 0 0 6602235 1654819 1070630 1119708 0 0 0 0 0 0 0 107698 101398 1178328 1221106 5423907 433713 32536909 36256500 91683 4574 32445226 36251926 THE PURPOSE OF CONCORDIA UNIVERSITY FOUNDATION IS TO ASSIST IN THE EDUCATIONAL AND RELIGIOUS ACTIVITIES OF CONCORDIA UNIVERSITY (AKA CONCORDIA UNIVERSITY CHICAGO) 0 0 864678 864678 0 THIS AMOUNT REPRESENTS THE RELEASE OF FUNDS TO CONCORDIA UNIVERSITY TO PROVIDE FINANCIAL AID TO CONCORDIA UNIVERSITY STUDENTS, IN ACCORDANCE WITH THE STIPULATIONS OF DONORS. 137992 137992 0 THIS AMOUNT REPRESENTS THE RELEASE OF FUNDS TO CONCORDIA UNIVERSITY TO SUPPORT THE OPERATIONS OF ACADEMIC PROGRAMS, STUDENT SERVICES, AND ACADEMIC SUPPORT, IN ACCORDANCE WITH STIPULATIONS OF DONORS. 117038 117038 0 THIS AMOUNT REPRESENTS THE RELEASE OF FUNDS TO CONCORDIA UNIVERSITY TO SUPPORT OPERATIONS AND MAINTENANCE OF PLANT, AS WELL AS OTHER GENERAL INSTITUTIONAL SUPPORT, IN ACCORDANCE WITH STIPULATIONS OF DONORS. 1119708 1 1 0 0 0 0 0 0 0 1 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 12 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 X X JOHN THOELKE 7087718300 7400 AUGUSTA ST RIVER FOREST IL 60305 RUSSELL DAWN COO 2.00 48.00 X X 0 283485 152490 JEFF HYNES PRESIDENT & CEO 5.00 45.00 X X 0 189593 56548 RANDALL BARFIELD TREASURER & CFO - THRU 6/30/25 2.00 48.00 X X 0 215418 19515 ROBERT LIBKA INTERIM CHAIR 1.00 0.00 X X 0 0 0 ANDREA ANDERSON DIRECTOR 1.00 0.00 X 0 0 0 KAREN DOERING DIRECTOR 1.00 0.00 X 0 0 0 CHARLES KRAFT DIRECTOR 1.00 0.00 X 0 0 0 ROGER KRUEL DIRECTOR 1.00 0.00 X 0 0 0 MELVIN LUETKENS DIRECTOR 1.00 0.00 X 0 0 0 WILLIAM STEVENSON DIRECTOR 1.00 0.00 X 0 0 0 AUDREY STINSON DIRECTOR 1.00 0.00 X 0 0 0 JOEL ZIELKE DIRECTOR 1.00 0.00 X 0 0 0 0 688496 228553 0 0 1 0 0 1069970 34625 1069970 530282 530282 1980753 1926186 54567 54567 54567 1654819 0 0 584849 1119708 1119708 101398 101398 1221106 1119708 101398 0 174435 29639403 33342565 2897506 2739500 32536909 36256500 91683 4574 91683 4574 X 32445226 36251926 32445226 36251926 32536909 36256500 433713 3372987 0 X X 0 1 X 1 0 X X 1 CONCORDIA UNIVERSITY 362191242 2 1 1119708 0 1 1119708 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 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 0 0 REAL ESTATE INVESTMENTS 2739500 C 2739500 DUE TO CONCORDIA FOUNDATION 4574 4574 X 73356296 3372987 68429888 71802875 1553421 101398 101398 1654819 67305824 67305824 67305824 0 101398 1119708 1221106 1221106 PART V, LINE 4: DONATIONS FOR CONCORDIA UNIVERSITY FOUNDATION ARE FOR ENDOWMENTS THAT ULTIMATELY ASSIST CONCORDIA UNIVERSITY'S EDUCATIONAL AND RELIGIOUS ACTIVITIES. DONORS HAVE PLACED RESTRICTIONS ON THE ENDOWMENT PAYOUT IN THE FOLLOWING WAYS: 1) FINANCIAL AID GIVEN TO CONCORDIA UNIVERSITY STUDENTS; 2) SUPPORT OF CONCORDIA UNIVERSITY'S STUDENT SERVICES AND ACADEMICS; AND 3) SUPPORT OF CONCORDIA UNIVERSITY'S MAINTENANCE AND OPERATION OF PLANT AND UNIVERSITY 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: REVENUE FROM RELATED ENTITY 68,429,888. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES FROM RELATED ENTITY 67,305,824. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANT TO RELATED ENTITY 1,119,708. 1 CONCORDIA UNIVERSITY 7400 AUGUSTA STREET RIVER FOREST IL 60305 362191242 501(C)(3) 1119708 0 N/A N/A SCHOLARSHIPS, GENERAL OPERATIONS, AND OTHER EXPENSES 1 0 PART I, LINE 2: CONCORDIA UNIVERSITY FOUNDATION PROVIDES ASSISTANCE TO CONCORDIA UNIVERSITY THROUGH AN ENDOWMENT PAYOUT. THE ENDOWMENT PAYOUTS FOR ALL ENDOWMENTS ARE RESTRICTED BY DONORS TO SUPPORT CONCORDIA UNIVERSITY. CONCORDIA UNIVERSITY IS BOUND BY DONOR IMPOSED RESTRICTIONS PLACED ON ENDOWMENT PAYOUTS. THE DONOR GIFT INSTRUMENTS WHICH STATE THE RESTRICTIONS FOR EACH ENDOWMENT ARE MAINTAINED PERMANENTLY BY CONCORDIA UNIVERSITY. IN THE PAST, CONCORDIA UNIVERSITY EXTENSIVELY REVIEWED ALL ENDOWMENT RESTRICTIONS AND VERIFIED THAT ALL SPENDABLE FUNDS ARE BEING USED IN ACCORDANCE TO DONOR'S RESTRICTIONS. AS NEW ENDOWMENTS ARE SETUP BY DONORS, CONCORDIA UNIVERSITY ASSISTS WITH RECORD KEEPING AND ACCOUNTING IN ORDER TO ENSURE THAT ALL DONOR RESTRICTIONS ARE MET. 0 0 0 0 0 0 0 0 0 RUSSELL DAWN COO 0 283485 0 0 0 0 0 30881 0 121609 0 435975 0 0 JEFF HYNES PRESIDENT & CEO 0 189593 0 0 0 0 0 18377 0 38171 0 246141 0 0 RANDALL BARFIELD TREASURER & CFO - THRU 6/30/25 0 215418 0 0 0 0 0 6480 0 13035 0 234933 0 0 PART I, LINE 3 WHILE CONCORDIA UNIVERSITY FOUNDATION DOES NOT DIRECTLY COMPENSATE ANY INDVIDUALS, THREE OFFICERS ARE EMPLOYEES OF CONCORDIA UNIVERSITY, A RELATED PARTY. AS SUCH, THE COMPENSATION OF THESE INDIVIDUALS FALL UNDER CONCORDIA UNIVERSITY COMPENSATION REVIEW AND APPROVAL PROCESS, WHICH IS AS FOLLOWS: THERE ARE SEVERAL INDIVIDUALS WHO HAVE THEIR SALARIES RENEWED AND APPROVED BY THE FINANCE COMMITTEE OF THE BOARD OF REGENTS. THESE INDIVIDUALS ARE THOSE WHO HAVE THE ABILITY TO AFFECT EMPLOYEES' COMPENSATION, CURRENTLY THE PRESIDENT'S CABINET AND THE DIRECTOR OF HUMAN RESOURCES. ANNUALLY, THE DIRECTOR OF HUMAN RESOURCES PROVIDES THE BOARD WITH THESE INDIVIDUALS' COMPENSATION, AS WELL AS COMPARATIVE DATA FROM SIMILAR UNIVERSITIES. ONCE THE DATA IS REVIEWED, ANNUAL COMPENSATION INCREASES FOR THESE INDIVIDUALS ARE EITHER APPROVED OR REJECTED. THE APPROVAL OR REJECTION IS DOCUMENTED THROUGH A FORMAL BOARD RESOLUTION OF THE CONCORDIA UNIVERSITY BOARD OF REGENTS. X 150 34625 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 MADE UP OF THE CHAIR, VICE CHAIR, PRESIDENT/CEO, THE SECRETARY, AND ONE ADDITIONAL INDIVIDUAL ELECTED BY MAJORITY VOTE OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE SHALL HAVE AND MAY EXERCISE THE AUTHORITY OF THE BOARD OF DIRECTORS IN THE MANAGEMENT OF THE CORPORATION; PROVIDED, HOWEVER, THAT THE EXECUTIVE COMMITTEE SHALL NOT HAVE THE AUTHORITY OF THE BOARD OF DIRECTORS IN REFERENCE TO THE FOLLOWING: AMENDING, ALTERING, OR REPEALING THE ARTICLES OF INCORPORATION OR BYLAWS OF THE CORPORATION; ELECTING, APPOINTING, OR REMOVING ANY PERSON ON THE EXECUTIVE COMMITTEE OR ANY DIRECTOR; ADOPTING A PLAN OF MERGER OR ADOPTING A PLAN OF CONSOLIDATION WITH ANOTHER CORPORATION; AUTHORIZING THE SALE, LEASE, EXCHANGE OR MORTGAGE OF ALL OR SUBSTANTIALLY ALL OF THE PROPERTY OR ASSETS OF THE CORPORATION; AUTHORIZING THE VOLUNTARY DISSOLUTION OF THE CORPORATION OR REVOKING PROCEEDINGS THEREFOR; ADOPTING A PLAN FOR THE DISTRIBUTION OF THE ASSETS OF THE CORPORATION; OR AMENDING, ALTERING, OR REPEALING ANY RESOLUTION OF THE BOARD OF DIRECTORS, WHICH BY ITS TERMS, PROVIDES THAT IT SHALL NOT BE AMENDED, ALTERED, OR REPEALED BY THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION A, LINE 6 CONCORDIA UNIVERSITY CHICAGO IS THE SOLE MEMBER OF THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7A THE SOLE MEMBER OF THE ORGANIZATION HAS THE ABILITY TO REMOVE ANY MEMBER OF THE BOARD OF DIRECTORS FOR ANY REASON AND WITH OR WITHOUT CAUSE. FORM 990, PART VI, SECTION A, LINE 7B ACTION BY THE BOARD OF DIRECTORS UPON ANY OF THE FOLLOWING SHALL BE CONSIDERED AUTHORIZED AND EFFECTIVE ONLY UPON APPROVAL OF THE CORPORATE MEMBER: (A) APPROVAL OF ANY CHANGES IN PHILOSOPHY, MISSION OR PRIMARY OBJECTIVES OF THE CORPORATION, (B) AMENDMENT OR RESTATEMENT OF THE ARTICLES OF INCORPORATION OF THE CORPORATION, (C) AMENDMENT OR RESTATEMENT OF THE CORPORATION'S BYLAWS, (D) THE MERGER, CONSOLIDATION, OR DISSOLUTION OF THE CORPORATION, (E) THE SALE OR OTHER DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF THE ASSETS OF THE CORPORATION, (F) THE PURCHASE, SALE, LEASE, GIFT, PLEDGE, OR MORTGAGE OF ANY REAL PROPERTY OR INTEREST THEREIN OF ANY ASSET OF THE CORPORATION WITH A VALUE IN EXCESS OF $150,000 NOT PREVIOUSLY APPROVED IN THE ANNUAL BUDGET, EXCEPT FOR AUTHORIZED TRANSACTIONS IN PURSUIT OF ACTIVELY MANAGING THE CORPORATION'S PORTFOLIO OF INVESTMENTS, (G) ADOPTION OF THE ANNUAL BUDGET OF THE CORPORATION AFTER OF THE BOARD OF DIRECTORS, (H) ANY SUBSTANTIAL CHANGE IN POLICY CONCERNING THE CORPORATION'S COMPENSATION, FRINGE BENEFITS, OR PERSONNEL POLICIES AND (I) SELECTION OF THE CORPORATION'S AUDITORS. FORM 990, PART VI, SECTION B, LINE 11B THE REVIEW PROCESS BEGINS WITH AN INTERNAL REVIEW. AFTER THE IRS FORM 990 IS PREPARED, BUT NOT FINALIZED, IT IS REVIEWED BY THE CHIEF FINANCIAL OFFICER OF THE CORPORATION. THE IRS FORM 990 IS AMENDED, AS NEEDED, AFTER THIS INITIAL REVIEW. NEXT A COPY OF THE UNFILED IRS FORM 990 IS PROVIDED TO MEMBERS OF THE BOARD OF DIRECTORS. AFTER BEING REVIEWED BY THIS BODY, THE IRS FORM 990 IS AGAIN AMENDED AS NEEDED. FINALLY, THE IRS FORM 990 IS MARKED AS COMPLETE AND IS FILED WITH THE IRS. 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 C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS OF CONCORDIA UNIVERSITY FOUNDATION ARE AVAILABLE UPON WRITTEN REQUEST TO THE CFO OF CONCORDIA UNIVERSITY AT 7400 AUGUSTA STREET, RIVER FOREST, IL 60305. ADDITIONALLY, THE 990 AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC ON CONCORDIA UNIVERSITY'S WEBSITE (WWW.CUCHICAGO.EDU/ABOUT-US/CONSUMER-INFORMATION/ FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. CONCORDIA UNIVERSITY 7400 AUGUSTA STREET RIVER FOREST IL 60305 362191242 EDUCATION IL 501(C)(3) LINE 2 N/A 0 0 1 0 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0