2026-09-16T12:01:05-05:00 2025-12-31 351178661 BLUE & CO LLC 12800 N MERIDIAN ST STE 400 CARMEL IN 46032 990 2025-01-01 366130655 THE ENDOWMENT FUND OF THE PHI KAPPA PSI FRATERNITY ENDO 3172753400 5395 EMERSON WAY INDIANAPOLIS IN 46226 BENJAMIN S M NICOL CHIEF EXECUTIVE OFFICER 3172753400 2026-09-16 1 ANGELA N CRAWFORD CPA P00573197 3178488920 2026-09-16 2025 BENJAMIN S M NICOL 5395 EMERSON WAY INDIANAPOLIS IN 46226 21440035 0 X PKPFOUNDATION.ORG X 1922 IL TO RAISE, INVEST, AND GRANT RESOURCES TO EQUIP EVERY BROTHER TO LEAD A PURPOSEFUL LIFE OF CHARACTER, SERVICE, AND IMPACT IN HIS COMMUNITY. 17 17 28 216 0 0 1846156 5936261 90011 133827 3795963 5294983 582012 558081 6314142 11923152 663904 2362596 0 0 1765663 2133664 0 0 1160248 1747360 1964904 4176927 6461164 2137215 5461988 82856591 97290787 913998 898608 81942593 96392179 X TO RAISE, INVEST, AND GRANT RESOURCES TO EQUIP EVERY BROTHER TO LEAD A PURPOSEFUL LIFE OF CHARACTER, SERVICE, AND IMPACT IN HIS COMMUNITY THROUGH SCHOLARSHIPS AND AWARDS AND SUPPORT FOR EDUCATIONAL PROJECTS AND PROGRAMS THAT ADVANCE HIS PERSONAL, PROFESSIONAL, AND LEADERSHIP DEVELOPMENT. 0 0 4178434 2362596 133827 SEE SCHEDULE O 4178434 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 1 15 0 1 28 1 0 0 0 0 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IN IL AL AR CA CT CO FL GA HI KS KY MA MD MI MN MS NH NM NY NC OH OR PA RI SC TN UT VA WV WI DC X X THE ORGANIZATION 3172753400 5395 EMERSON WAY INDIANAPOLIS IN 46226 TIMOTHY P MCCOURT CHAIRMAN 8.00 X X 0 0 0 RANDALL W SCHNACK VICE CHAIRMAN 4.00 X X 0 0 0 BRUCE A JACKSON TREASURER 5.00 X X 0 0 0 JOHN H PIERCE SECRETARY 5.00 X X 0 0 0 KARL D BRENSIKE TRUSTEE 1.00 X 0 0 0 ROBERT W DUDLEY TRUSTEE 4.00 X 0 0 0 DONALD V FITES TRUSTEE 10.00 X 0 0 0 CHRISTOPHER J HEDBERG TRUSTEE 1.00 X 0 0 0 FREDERICK A HEGELE TRUSTEE 3.00 X 0 0 0 CHARLES J MAXWELL JR TRUSTEE 2.00 X 0 0 0 DAVID S MOYER TRUSTEE 5.00 X 0 0 0 JOHN R MURRAY JR TRUSTEE 1.00 X 0 0 0 ARI J OFFICER TRUSTEE 2.00 X 0 0 0 MICHAEL J SCHROEDER TRUSTEE 1.00 X 0 0 0 CARL J STONEY JR TRUSTEE 3.00 X 0 0 0 JOHN D WATKINS JR TRUSTEE 2.00 X 0 0 0 JERRY C WATSON TRUSTEE 5.00 X 0 0 0 PAMELA P HAWKINS CHIEF FINANCIAL OFFICER 40.00 X 152704 0 13462 BENJAMIN S NICOL CHIEF EXECUTIVE OFFICER 40.00 X 187000 0 40298 DREW M THAWLEY CHIEF ADVANCEMENT OFFICER 40.00 X 178180 0 53717 LEE FULLER VP OF DEVELOPMENT 40.00 X 115979 0 25096 633863 0 132573 4 0 1 0 0 5936261 197656 5936261 CHAPTER DEVELOPMENT SERVICES 541900 133827 133827 133827 4455608 4455608 699161 141080 558081 558081 558081 10215178 9371994 3809 843184 -3809 839375 839375 11923152 133827 0 5853064 1873677 1873677 488919 488919 625361 321304 118500 185557 1245993 576259 311363 358371 43522 19070 11821 12631 87899 35418 25597 26884 130889 62459 30386 38044 146394 133908 12486 43782 5740 38042 97428 97428 354288 172006 151458 30824 151458 13332 11982 126144 86545 11454 35149 39942 7199 1027 5135 1037 159757 83073 54318 22366 382324 207428 68453 106443 26907 8003 8171 10733 198085 102985 68269 26831 32479 674 31805 BAD DEBT EXPENSE 134067 134067 GIFTED POLICY INSURANCE 74000 51800 22200 DUES, LICENSES, AND SUB 70191 9898 19919 40374 6461164 4178434 1122482 1160248 1024753 1198853 3265734 4653065 485056 1149640 308773 306899 2344563 2226424 52436 91999 5143545 3013535 2223958 2130010 72753575 84722156 397743 811741 82856591 97290787 272103 273313 568075 553325 73820 71970 913998 898608 X 42500593 46545409 39442000 49846770 81942593 96392179 82856591 97290787 X 5461988 9037273 -49675 X X 0 1 X 1 0 X 2965758 3256842 2574107 1846156 5936261 16579124 2965758 3256842 2574107 1846156 5936261 16579124 2906711 13672413 1321828 2175552 2881988 4348628 5154769 15882765 444569 444569 32906458 660895 0.41550 0.49570 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 113951 X 0 32399922 6030183 1051943 37378162 30662870 500 3018531 1281979 32399922 1052646 28871111 908742 169629 30662870 1087916 224 -12029 23465 1052646 991545 119456 23085 1087916 0.74245 0.01618 0.24137 0 0 137000 137000 4416584 2466019 1950565 476010 433565 42445 113951 113951 0 2130010 CUSTOMER DEPOSITS 71970 71970 X 20954402 9037273 -49675 8987598 11966804 97428 -141080 -43652 11923152 6504816 141080 141080 6363736 97428 97428 6461164 PART III, LINE 4: OVER THE COURSE OF THE FOUNDATION'S EXISTENCE, IT HAS PERIODICALLY BEEN GIFTED HISTORICAL ITEMS, INCLUDING OFFICE FURNITURE AND ART. THESE ITEMS EITHER PROVIDE DECORATION FOR THE FOUNDATION'S OFFICES OR ARE USED AS FUNCTIONAL PIECES OF FURNITURE. PART V, LINE 4: THE FOUNDATION HAS A POLICY FOR ITS ENDOWMENT FUNDS OF APPROPRIATING FOR DISTRIBUTION EACH YEAR 4.5% OF THE ENDOWMENT FUND'S ROLLING FIVE-YEAR QUARTERLY MARKET VALUE AVERAGE FOR SCHOLARSHIPS, GRANTS AND OTHER ALLOWABLE EXPENSES WITH THE EXCEPTION OF ENDOWED FUNDS GOVERNED BY SPECIFIC GIFT AGREEMENTS. IN ESTABLISHING THIS POLICY, THE FOUNDATION CONSIDERED THE LONG-TERM EXPECTED RETURN ON ITS ASSETS HELD FOR ENDOWMENT. THE FOUNDATION'S OBJECTIVE IS TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS HELD IN PERPETUITY AS WELL AS TO PROVIDE ADDITIONAL REAL GROWTH THROUGH NEW GIFTS AND INVESTMENT RETURN. PART X, LINE 2: THE FOUNDATION IS ORGANIZED AS A NOT-FOR-PROFIT CORPORATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE UNITED STATES INTERNAL REVENUE CODE AND SIMILAR STATE LAW. THE SINGLE MEMBER LLCS ARE EXEMPT AS PROGRAMS UNDER THE FOUNDATION'S NOT-FOR-PROFIT EXEMPTION AND ARE INCLUDED IN THE INCOME TAX FILINGS OF THE FOUNDATION. THE EXEMPTION IS ON ALL INCOME EXCEPT UNRELATED BUSINESS INCOME. AN UNRELATED TRADE OR BUSINESS OF AN EXEMPT ORGANIZATION IS ANY TRADE OR BUSINESS WHICH IS NOT SUBSTANTIALLY RELATED TO THE EXERCISE OR PERFORMANCE OF ITS EXEMPT PURPOSE. THERE WAS NO UNRELATED BUSINESS INCOME FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE FOUNDATION AND RECOGNIZE A TAX LIABILITY IF THE FOUNDATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY VARIOUS FEDERAL AND STATE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION, AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2025 AND 2024, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE FOUNDATION HAS FILED ITS FEDERAL AND STATE INCOME TAX RETURNS FOR PERIODS THROUGH DECEMBER 31, 2024. THESE INCOME TAX RETURNS ARE GENERALLY OPEN TO EXAMINATION BY THE RELEVANT TAXING AUTHORITIES FOR A PERIOD OF THREE YEARS FROM THE LATER OF THE DATE THE RETURN WAS FILED OR ITS DUE DATE (INCLUDING APPROVED EXTENSIONS). PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF GIFT ANNUITY 2,923. CHANGE IN VALUE OF BENEFICIAL INTERESTS IN PERPETUAL TRUSTS -72,093. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE 19,495. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES NETTED WITH INCOME -141,080. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES NETTED WITH INCOME 141,080. 1 UNIVERSITY OF ILLINOIS ASSOCIATION OF PHI KAPPA PSI 911 SOUTH FOURTH STREET CHAMPAIGN IL 61820 376036062 501(C)(7) 124847 0 EDUCATION AREA GRANTS INDIANA EPSILON HOUSE CORPORATION 2885 SANFORD AVENUE SW 15251 GRANDVILLE MI 49418 351883933 501(C)(7) 47000 0 EDUCATIONAL AREA & OPERATING GRANTS GEORGIA ALPHA HOUSING CORPORATION 3425 SELWYN FARMS LANE CHARLOTTE NC 28209 474666230 501(C)(7) 13113 0 EDUCATIONAL AREA GRANTS OHIO DELTA COMPANY 1812 NORTH HIGH STREET COLUMBUS OH 43201 316052859 501(C)(2) 116130 0 EDUCATIONAL OPERATING GRANTS MINNESOTA BETA HOUSE CORPORATION 2221 UNIVERSITY AVE SE STE 111 MINNEAPOLIS MN 55414 416048418 501(C)(7) 10677 0 EDUCATIONAL OPERATING GRANTS PURDUE UNIVERSITY PHI KAPPA PSI ALUMNI ASSOCIATION 1533 SARANELL AVE NAPERVILLE IL 60540 237406388 501(C)(7) 68505 0 EDUCATIONAL AREA GRANTS TENNESSEE DELTA PHI KAPPA PSI HOUSE CORPORATION 381 GREENFIELD RD MEMPHIS TN 38117 591722540 501(C)(2) 29600 0 ARCHIVAL PROGRAM GRANTS CALIFORNIA EPSILON OF PHI KAPPA PSI HOUSE CORPORATION 924 WESTWOOD BOULEVARD SUITE 550 LOS ANGELES CA 90024 956059240 501(C)(2) 349361 0 EDUCATIONAL OPERATING GRANTS THE HOUSING CORPORATION FOR THE CALIFORNIA GAMMA CHAPTER OF PHI KAPPA PSI 2424 WARRING STREET BERKELEY CA 94076 264685310 501(C)(7) 62000 0 EDUCATIONAL OPERATING GRANTS OKLAHOMA ALPHA HOUSING CORPORATION 720 ELM AVE NORMAN OK 73069 311128130 501(C)(7) 14944 0 EDUCATIONAL OPERATING GRANTS DIGITUNITY INC 120 N SOUTH RD UNIT C284 NORTH CONWAY NH 03860 863935645 501(C)(3) 1037500 0 PROGRAMMING GRANTS 1 10 SCHOLARSHIPS - NATIONAL & DISTRICT AWARDS 45 134288 SCHOLARSHIPS - CHAPTER AWARDS 398 344343 LEADERSHIP PROGRAM GRANTS 9 4000 FELLOWSHIP GRANTS 10 6288 PART I, LINE 2: GRANT MONIES PROVIDED FOR EDUCATIONAL PROGRAM RELATED EFFORTS ARE DISBURSED IN ACCORDANCE WITH AN EXECUTED GRANT AGREEMENT. SUCH AGREEMENTS PROVIDE FOR THE PERCENTAGE OF THE PROGRAM, WHICH ACCORDING TO A LEGAL OPINION, IS DEEMED EDUCATIONAL. FURTHER, EACH AGREEMENT OUTLINES THE REPORTING REQUIREMENTS. SCHOLARSHIPS AND FELLOWSHIPS ARE AWARDED FOR BOTH QUALITATIVE AND QUANTITATIVE SUCCESSES AND ACCOMPLISHMENTS. ALL GRANT AND SCHOLARSHIP DISBURSEMENTS ARE MONITORED INTERNALLY BY STAFF AND, IN APPLICABLE CASES, CONFIRMED BY THE COLLEGE OR UNIVERSITY. X X 0 0 0 0 0 0 0 1 0 DREW M THAWLEY CHIEF ADVANCEMENT OFFICER 167107 0 11073 0 0 0 11746 0 41971 0 231897 0 0 0 BENJAMIN S NICOL CHIEF EXECUTIVE OFFICER 186529 0 0 0 471 0 12000 0 28298 0 227298 0 0 0 PAMELA P HAWKINS CHIEF FINANCIAL OFFICER 146289 0 6415 0 0 0 9190 0 4272 0 166166 0 0 0 PART I, LINE 7 PERFORMANCE-BASED COMPENSATION IS PROVIDED TO EMPLOYEES BASED ON THE RESULTS OF WEIGHTED PERFORMANCE GOALS, BOTH QUALITATIVE AND QUANTITATIVE, WHICH ARE DETERMINED AND DEFINED AT THE BEGINNING OF EACH YEAR. THESE GOALS ARE ALIGNED WITH THE ORGANIZATION'S STRATEGIC PRIORITIES. THE ORGANIZATION FOLLOWS A STRUCTURED AND COMPETITIVE COMPENSATION REVIEW PROCESS THAT INCLUDES BENCHMARKING AGAINST SIMILARLY SITUATED NONPROFIT ORGANIZATIONS AND THE REVIEW OF INDEPENDENT COMPENSATION DATA TO ENSURE COMPLIANCE, FAIRNESS, AND REASONABLENESS. X 13 197656 FAIR MARKET VALUE 0 1 1 PART I, LINE 32B: THE FOUNDATION UTILIZES FIDELITY AND FOCUS PARTNERS WEALTH TO SELL DONATED SECURITIES. FORM 990, PART III, LINE 4A THE ENDOWMENT FUND ADVANCES ACADEMIC ACHIEVEMENT, LEADERSHIP AND PERSONAL DEVELOPMENT, MENTORING, AND SAFE, HEALTHY EDUCATIONAL LIVING ENVIRONMENTS THROUGH SCHOLARSHIPS, GRANTS, EDUCATIONAL PROGRAMMING, AND OTHER CHARITABLE INVESTMENTS. IN 2025, THE FOUNDATION'S BOARD OF TRUSTEES FORMALLY ADOPTED NEW VISION AND MISSION STATEMENTS, STRENGTHENING ALIGNMENT AMONG THE FOUNDATION'S PURPOSE, STRATEGY, INVESTMENTS, AND INTENDED IMPACT. VISION: HONORABLE MEN LEADING LIVES OF CHARACTER, SERVICE AND IMPACT. MISSION: RAISE, INVEST, AND GRANT RESOURCES TO EQUIP EVERY BROTHER TO LEAD A PURPOSEFUL LIFE OF CHARACTER, SERVICE, AND IMPACT IN HIS COMMUNITY. THE STATEMENTS WERE DEVELOPED THROUGH NEARLY TEN MONTHS OF ENGAGEMENT WITH TRUSTEES, VOLUNTEERS, DONORS, PROGRAM RECIPIENTS, AND STAFF. THEY MORE CLEARLY DEFINE THE FOUNDATION'S ROLE IN RAISING, STEWARDING, AND DEPLOYING CHARITABLE RESOURCES AND CONNECT SCHOLARSHIPS, LEADERSHIP DEVELOPMENT, MENTORING, HOUSING, AND OTHER EDUCATIONAL INITIATIVES AROUND A SHARED OUTCOME: EQUIPPING BROTHERS TO LEAD PURPOSEFUL LIVES. THE FOUNDATION'S 2025-2027 STRATEGIC OBJECTIVES ARE ORGANIZED AROUND TWO COMPLEMENTARY PRIORITIES: REVENUE GENERATION AND IMPACT GENERATION. REVENUE GENERATION BUILDS THE PHILANTHROPIC CAPACITY TO SUSTAIN THE WORK; IMPACT GENERATION TRANSLATES THOSE RESOURCES INTO MEASURABLE OPPORTUNITIES AND OUTCOMES. THREE IMPACT GENERATION OBJECTIVES PROVIDE THE PRIMARY FRAMEWORK FOR ADVANCING MEASURABLE IMPACT: BROADEN SCHOLARSHIP OFFERINGS AND INCREASE AWARDING; INNOVATE AND SCALE EDUCATIONAL HOUSING SUPPORT; AND ENHANCE AND EXPAND LEADERSHIP PROGRAMMING. PROGRESS IN 2025 WAS MEASURABLE. FORTY-EIGHT CHAPTERS WERE REPRESENTED IN LEADERSHIP PROGRAMMING, EXCEEDING THE ANNUAL OBJECTIVE OF 30, WHILE IN-PERSON PARTICIPATION EXCEEDED THE ANNUAL OBJECTIVE AND ADVANCED THE FOUNDATION TOWARD ITS MULTI-YEAR GOAL OF 300% GROWTH. EDUCATIONAL HOUSING WORK ALSO EXPANDED THROUGH GRANTS AND ADDITIONAL DETERMINATIONS OF THE EDUCATIONAL-USE PERCENTAGE OF PHI PSI-OWNED FACILITIES. ACROSS THESE EFFORTS, THE FOUNDATION EMPHASIZES DEVELOPMENT OF THE WHOLE PERSON. PHI PSI'S NINE DIMENSIONS OF WELLNESS INTELLECTUAL, OCCUPATIONAL, FINANCIAL, PHYSICAL, ENVIRONMENTAL, EMOTIONAL, SPIRITUAL, SOCIAL, AND CULTURAL PROVIDE A FRAMEWORK FOR DEVELOPMENT THROUGH MIND, HEART, AND SOUL. SCHOLARSHIP RECIPIENT RAPHAEL MARTINEZ PENN '24 DESCRIBED THE BROADER IMPACT OF HIS EXPERIENCE, SHARING THAT "IN MANY WAYS, PHI PSI HAS SHAPED MY COLLEGE EXPERIENCE BY SURROUNDING ME WITH ROLE MODELS WHO INSPIRE ME TO LIVE WITH THAT SAME SENSE OF PURPOSE. THE FRATERNITY HAS NOT ONLY GIVEN ME LIFELONG FRIENDSHIPS, BUT ALSO OPPORTUNITIES TO LEAD AND SERVE OTHERS IN MEANINGFUL WAYS." SCHOLARSHIPS, FELLOWSHIPS AND GRANTS ACADEMIC SUPPORT REMAINS ONE OF THE FOUNDATION'S LARGEST AND LONGEST-STANDING AREAS OF CHARITABLE IMPACT. IN 2025, THE FOUNDATION PROVIDED $518,519 IN SCHOLARSHIPS, FELLOWSHIPS AND GRANTS TO SUPPORT UNDERGRADUATE AND GRADUATE EDUCATION, PROFESSIONAL DEVELOPMENT, AND OTHER EDUCATIONAL OPPORTUNITIES. NATIONAL SCHOLARSHIP AND FELLOWSHIP OPPORTUNITIES GENERATED 706 APPLICATIONS REPRESENTING 90 CHAPTERS. FROM THOSE APPLICATIONS, 45 NATIONAL SCHOLARSHIPS AND 10 FELLOWSHIP GRANTS WERE AWARDED. AN ADDITIONAL 398 CHAPTER SCHOLARSHIPS WERE AWARDED, CONTINUING A SUSTAINED LEVEL OF LOCAL SUPPORT: 367 IN 2024, 371 IN 2023, 361 IN 2022, 353 IN 2021, AND 308 IN 2020. THESE AWARDS REDUCE FINANCIAL BARRIERS WHILE RECOGNIZING ACADEMIC ACHIEVEMENT AND SERVICE. FREDERICK DEHMEL UC BERKELEY '24, A 2025 SOLON E. SUMMERFIELD AWARD RECIPIENT, SHARED THAT "THE FINANCIAL ASSISTANCE HAS MATTERED A GREAT DEAL. I'M ETERNALLY THANKFUL, AND THE SCHOLARSHIPS MOTIVATED ME TO KEEP BEING MY BEST." HE ALSO NOTED, "YOUR SUPPORT IS FELT. IT PUSHES THOSE OF US WHO RECEIVE IT TO LIVE UP TO WHAT YOU'VE INVESTED IN." SCHOLARSHIPS AND FELLOWSHIPS ADVANCE BOTH MIND AND HEART BY SUPPORTING ACADEMIC AND PROFESSIONAL ACHIEVEMENT WHILE REINFORCING A MULTIGENERATIONAL CULTURE OF ENCOURAGEMENT, ACCOUNTABILITY, SERVICE, AND SHARED RESPONSIBILITY. LEADERSHIP AND PERSONAL DEVELOPMENT THROUGH THE NELSON LEADERSHIP INSTITUTE, THE FOUNDATION INVESTS IN EXPERIENCES THAT BUILD RESILIENCE, SELF-AWARENESS, INTEGRITY, SERVICE, MEANINGFUL RELATIONSHIPS, AND PRACTICAL LEADERSHIP SKILLS. IN 2025, THE FOUNDATION INVESTED $421,609 IN INSTITUTE PROGRAMMING, SUPPORTING EXPERIENCES RANGING FROM CAREER IMMERSION AND EXPERIENTIAL LEADERSHIP TO MENTORING AND OTHER OPPORTUNITIES THAT EQUIP PARTICIPANTS WITH SKILLS AND PERSPECTIVES THEY CAN APPLY THROUGHOUT THEIR LIVES. EXPLORE CAREER IMMERSION EXTERNSHIPS EXPLORE CONNECTS UNDERGRADUATES WITH ALUMNI IN FIELDS ALIGNED WITH THEIR INTERESTS, PLACING STUDENTS IN PROFESSIONAL ENVIRONMENTS WHERE THEY CAN OBSERVE ORGANIZATIONS, MEET PRACTITIONERS, UNDERSTAND CAREER PATHS, AND BUILD RELATIONSHIPS. IN 2025, THREE EXPLORE SESSIONS SERVED 52 PARTICIPANTS FROM 24 CHAPTERS. THE EXPERIENCE ALSO ADVANCES INTELLECTUAL, OCCUPATIONAL, FINANCIAL, SOCIAL, AND CULTURAL WELLNESS. STUDENTS SEE THE DAY-TO-DAY REALITIES OF A PROFESSION, ASK QUESTIONS IN REAL TIME, AND GAIN CONTEXT THAT IS DIFFICULT TO REPRODUCE IN A CLASSROOM. THE ALUMNI RELATIONSHIPS FORMED THROUGH EXPLORE CAN CONTINUE BEYOND THE PROGRAM, GIVING PARTICIPANTS ADDITIONAL SOURCES OF PERSPECTIVE AS THEY MAKE ACADEMIC AND CAREER DECISIONS. PARTICIPANTS DEVELOP PRACTICAL KNOWLEDGE ABOUT INDUSTRIES AND CAREER OPPORTUNITIES AS WELL AS CONFIDENCE AND RELATIONSHIPS THAT SUPPORT THE TRANSITION FROM COLLEGE TO PROFESSIONAL LIFE. BY CONNECTING STUDENTS WITH ALUMNI WILLING TO SHARE EXPERIENCE, PERSPECTIVE, NETWORKS, AND ADVICE, EXPLORE MAKES PROFESSIONAL DEVELOPMENT AN EXPRESSION OF LIFELONG BROTHERHOOD. TRAILHEAD EXPERIENTIAL LEADERSHIP TRAILHEAD EXPANDED EXPERIENTIAL LEADERSHIP DEVELOPMENT THROUGH A WILDERNESS EXPERIENCE CONDUCTED WITH THE NATIONAL OUTDOOR LEADERSHIP SCHOOL. TWELVE BROTHERS REPRESENTING NINE CHAPTERS PARTICIPATED IN 2025. TRAILHEAD INTENTIONALLY MOVES LEADERSHIP DEVELOPMENT BEYOND THEORY. PARTICIPANTS MUST ASSESS CHANGING CONDITIONS, COMMUNICATE CLEARLY, MAKE DECISIONS WITH INCOMPLETE INFORMATION, AND CONTRIBUTE TO THE SUCCESS OF A GROUP. THESE CHALLENGES MAKE THE LEARNING IMMEDIATE AND PERSONAL, REINFORCING THE CONNECTION AMONG CRITICAL THINKING, INDIVIDUAL RESPONSIBILITY, TEAMWORK, AND TRUST. OVER SEVEN DAYS AND SIX NIGHTS IN WYOMING'S WIND RIVER AND ABSAROKA MOUNTAINS, PARTICIPANTS PRACTICED ROUTE FINDING, DECISION-MAKING, TEAMWORK, COMMUNICATION, PROBLEM-SOLVING, AND LEADERSHIP UNDER PHYSICAL CHALLENGE AND UNCERTAINTY. THE SETTING REQUIRES PARTICIPANTS TO LEAD WHILE ACCOUNTABLE TO OTHERS, BUILDING RESILIENCE, TRUST, SELF-AWARENESS, AND CONFIDENCE. JACOB GERSON CLEMSON '24 SHARED THAT "EVERYTHING IS BUILT ON GROWING AND LEARNING TOGETHER. WHETHER WE WERE HIKING THROUGH A MOUNTAIN PASS, SETTING UP CAMP, OR LAUGHING AROUND THE CAMPFIRE AT NIGHT, THERE WAS THIS CONSTANT SENSE THAT YOU WERE NEVER ALONE. EVERY CONVERSATION BECAME AN OPPORTUNITY TO LEARN FROM ONE ANOTHER." HE ALSO REFLECTED THAT THE EXPERIENCE CHALLENGED HIM TO BECOME MORE CONFIDENT IN HIS DECISION-MAKING, COMMUNICATION, AND LEADERSHIP AND GAVE HIM A BETTER UNDERSTANDING OF HOW HE RESPONDS TO CHALLENGES AND SUPPORTS OTHERS. FORM 990, PART III, LINE 4A CONT'D WINEMAN MENTORING ADVANTAGE PROGRAM THE PAUL R. WINEMAN MENTORING ADVANTAGE PROGRAM (MAP) CREATES INTENTIONAL RELATIONSHIPS BETWEEN UNDERGRADUATES AND ALUMNI WHO PROVIDE GUIDANCE INFORMED BY PROFESSIONAL EXPERIENCE, FRATERNITY LIFE, AND THE TRANSITION INTO ADULTHOOD. MAP ENGAGED 177 MENTEES AND 218 MENTORS, WITH 129 MENTORING PAIRINGS REPRESENTING 57 CHAPTERS. THE STRUCTURED NATURE OF MAP CREATES SPACE FOR CONVERSATIONS THAT MAY NOT OTHERWISE OCCUR. PROFESSIONAL INTERESTS HELP INFORM PAIRINGS, BUT THE VALUE OF THE RELATIONSHIP CAN EXTEND TO ACADEMICS, WORK-LIFE BALANCE, RELATIONSHIPS, CONFIDENCE, AND THE MANY DECISIONS STUDENTS FACE AS THEY PREPARE FOR LIFE AFTER COLLEGE. THIS BREADTH MAKES MENTORING BOTH A DEVELOPMENTAL RESOURCE FOR STUDENTS AND A TANGIBLE EXPRESSION OF LIFELONG ENGAGEMENT FOR ALUMNI. MAP EXTENDS BEYOND CAREER PLACEMENT. CONVERSATIONS CAN ADDRESS ACADEMICS, CAREER READINESS, WORK-LIFE BALANCE, RELATIONSHIPS, DECISION-MAKING, CONFIDENCE, AND PERSONAL DEVELOPMENT. RAYMOND CHINN WASHINGTON '23 DESCRIBED HOW MENTOR DR. MARK COKER WASHINGTON '82 BROADENED HIS PERSPECTIVE, SHARING THAT "HE'S EXPANDED MY PERSONAL NETWORK AND EXPOSED ME TO A LOT OF DIFFERENT PERSPECTIVES." RAYMOND ALSO SAID THE RELATIONSHIP REINFORCED THE LIFELONG NATURE OF PHI PSI: "IT'S ABOUT MAINTAINING THAT CONNECTION. IT'S ALWAYS THERE FOR YOU. IT'S ALWAYS GOING TO BE THERE." FOR ALUMNI, MAP PROVIDES A MEANINGFUL AVENUE FOR SERVICE. MARK SUMMARIZED IT AS "AN OPPORTUNITY TO PAY IT FORWARD AND HELP GROW THE NEXT GENERATION OF PHI PSI." THE PROGRAM EQUIPS BROTHERS WITH KNOWLEDGE, CONFIDENCE, NETWORKS, AND PERSPECTIVE WHILE STRENGTHENING RELATIONSHIPS ACROSS GENERATIONS. EDUCATIONAL PROGRAMMING AND EDUCATIONAL CHAPTER SUPPORT EDUCATIONAL GRANTS ALLOW THE FOUNDATION TO EXTEND ITS REACH THROUGH PROGRAMMING DELIVERED BY THE PHI KAPPA PSI FRATERNITY AND OTHER QUALIFIED ENTITIES. SUPPORTED PROGRAMS ADDRESS MEMBER EDUCATION, LEADERSHIP, HEALTH AND WELLNESS, ACADEMIC SUCCESS, PREVENTION AND SAFETY, PROFESSIONAL PREPARATION, AND VALUES-BASED DECISION-MAKING. THEY COMPLEMENT THE NELSON LEADERSHIP INSTITUTE'S DIRECT PROGRAMMING AND CREATE REPEATED OPPORTUNITIES TO LEARN, PRACTICE, REFLECT, AND APPLY SKILLS. LAUNCH EMERGING LEADER DEVELOPMENT LAUNCH RETURNED IN 2025 WITH 33 UNDERGRADUATE PARTICIPANTS REPRESENTING 10 CHAPTERS. THE IMMERSIVE PROGRAM AT CAMP TECUMSEH COMBINED INSTRUCTION, SMALL-GROUP APPLICATION, AND REFLECTION FOCUSED ON ADAPTIVE LEADERSHIP, PROBLEM-SOLVING, VALUES-BASED DECISION-MAKING, EMOTIONAL INTELLIGENCE, PERSONAL AGENCY, AND ACTION PLANNING. THE TIMING OF LAUNCH ALLOWS PARTICIPANTS TO RETURN TO CAMPUS WITH SKILLS THEY CAN APPLY AS CHAPTERS IDENTIFY AND TRANSITION NEW LEADERS. ITS EMPHASIS ON REFLECTION AND ACTION PLANNING ALSO ENCOURAGES PARTICIPANTS TO TRANSLATE CONCEPTS INTO SPECIFIC BEHAVIORS RATHER THAN TREATING LEADERSHIP DEVELOPMENT AS A ONE-TIME EDUCATIONAL EVENT. LAUNCH IS POSITIONED EARLY IN A BROTHER'S LEADERSHIP JOURNEY, HELPING PARTICIPANTS UNDERSTAND THEMSELVES AS LEADERS AND ADAPT TO DIFFERENT PEOPLE AND CIRCUMSTANCES. APPROXIMATELY TWO-THIRDS OF THE 2024 LAUNCH COHORT SUBSEQUENTLY HELD AN OFFICER OR COMMITTEE CHAIR POSITION DURING SPRING 2025. ONE 2025 PARTICIPANT SHARED, "I HAVE BECOME A BETTER EMOTIONALLY INTELLIGENT LEADER AND HAVE JUST ADAPTED AND CHANGED WITH THE KNOWLEDGE I HAVE GAINED." ANOTHER NOTED THAT THE PROGRAM MAKES LEADERSHIP SKILLS ACCESSIBLE TO "MANY DIFFERENT PEOPLE AND TYPES OF LEADERS." LAUNCH DEVELOPS PRACTICAL SKILLS, CONFIDENCE, ADAPTABILITY, EMPATHY, AND PURPOSE. EMBARK NEW MEMBER EDUCATION EMBARK PROVIDES A STRUCTURED EDUCATIONAL FOUNDATION DURING THE TRANSITION INTO FRATERNITY MEMBERSHIP. IN 2025, NEW ONLINE CONTENT DELIVERED THROUGH COMPASS EXPANDED CONSISTENT, SCALABLE EDUCATION IN HEALTH, SAFETY, WELLNESS, LEADERSHIP, AND VALUES. BECAUSE MOST PARTICIPANTS ENCOUNTER EMBARK EARLY IN COLLEGE, THE PROGRAM CREATES AN OPPORTUNITY TO ESTABLISH HEALTHY EXPECTATIONS AT A FORMATIVE POINT IN THEIR UNDERGRADUATE EXPERIENCE. THE COMBINATION OF EDUCATION AND ASSESSMENT ALSO GIVES PROGRAM LEADERS INFORMATION THAT CAN BE USED TO UNDERSTAND STUDENT ATTITUDES AND STRENGTHEN FUTURE LEARNING. THE SIX-WEEK EXPERIENCE COMBINES ONLINE AND CHAPTER-BASED LEARNING ON VALUES, LEADERSHIP, HEALTH AND WELLNESS, ALCOHOL AWARENESS, HAZING PREVENTION, SEXUAL ASSAULT PREVENTION, MENTAL HEALTH, STRESS, COPING MECHANISMS, AND INTEGRITY. NEAR THE END OF 2025, 999 PRE-PROGRAM SURVEYS AND 820 POST-PROGRAM SURVEYS HAD BEEN COMPLETED; MORE THAN 80% OF INITIAL RESPONDENTS WERE FIRST-YEAR STUDENTS. THE CURRICULUM HELPS STUDENTS MAKE HEALTHIER DECISIONS, RECOGNIZE RISKS, SUPPORT OTHERS, AND ESTABLISH POSITIVE EXPECTATIONS EARLY. ONE PARTICIPANT IDENTIFIED A KEY LESSON AS "BEING AWARE OF YOUR MENTAL HEALTH AND KNOWING IT'S OKAY TO ASK FOR HELP OR TO CHECK IN ON SOMEONE ELSE WHO SEEMS LIKE THEY AREN'T DOING GREAT." EMBARK DEMONSTRATES HOW EDUCATIONAL PROGRAMMING CAN REACH STUDENTS AT SCALE WHILE SUPPORTING HEALTHY, MEANINGFUL MEMBERSHIP. ASCEND OFFICER AND CHAPTER LEADERSHIP DEVELOPMENT ASCEND DEVELOPS UNDERGRADUATE OFFICERS AND CHAPTER LEADERS WHO ARE RESPONSIBLE FOR LEADING PEERS AND MANAGING ORGANIZATIONS. BUILDING ON FOUNDATIONAL LEADERSHIP EXPERIENCES, IT EMPHASIZES COMMUNICATION, DECISION-MAKING, ACCOUNTABILITY, PLANNING, PROBLEM-SOLVING, TEAM DEVELOPMENT, AND VALUES-BASED LEADERSHIP. THE CHAPTER SERVES AS A PRACTICAL LEADERSHIP LABORATORY WHERE STUDENTS RESOLVE CONFLICT, SET EXPECTATIONS, MANAGE CHANGE, MAKE DIFFICULT DECISIONS, AND CREATE SHARED DIRECTION. ASCEND HELPS CONNECT THE FOUNDATION'S PROGRAMS INTO A DEVELOPMENTAL CONTINUUM IN WHICH BROTHERS BUILD SELF-AWARENESS, APPLY LEADERSHIP SKILLS, ASSUME GREATER RESPONSIBILITY, AND CARRY THOSE LESSONS INTO PROFESSIONAL, CIVIC, AND COMMUNITY LIFE. CAMPFIRE FINANCIAL LEADERSHIP AND LIFELONG SKILLS CAMPFIRE COMBINES FINANCIAL EDUCATION WITH RESPONSIBLE LEADERSHIP. IN 2025, NEARLY 70 UNDERGRADUATES GATHERED AT BUTLER UNIVERSITY FOR AN IMMERSIVE EXPERIENCE FOCUSED ON FINANCIAL LITERACY, ACCOUNTABILITY, STEWARDSHIP, AND LEADERSHIP. THE IMPACT EXTENDS BEYOND TECHNICAL COMPETENCE. PARTICIPANT FEEDBACK IDENTIFIED BENEFITS IN FINANCIAL, SOCIAL, INTELLECTUAL, EMOTIONAL, AND OCCUPATIONAL WELLNESS, INCLUDING REDUCED ANXIETY AROUND FINANCIAL RESPONSIBILITIES AND GREATER CONFIDENCE IN DIFFICULT CONVERSATIONS. THE PROGRAM THEREFORE STRENGTHENS BOTH IMMEDIATE CHAPTER OPERATIONS AND SKILLS STUDENTS CAN USE IN FUTURE EMPLOYMENT, VOLUNTEER SERVICE, AND PERSONAL FINANCIAL DECISION-MAKING. PARTICIPANTS WORKED ON BUDGETING, CASH-FLOW MANAGEMENT, FINANCIAL REPORTING, ACCOUNTS RECEIVABLE, COLLECTIONS, ORGANIZATIONAL ACCOUNTABILITY, AND PERSONAL FINANCE THROUGH INSTRUCTION, SMALL GROUPS, SCENARIOS, AND PEER LEARNING. THEY ALSO PRACTICED DIFFICULT FINANCIAL CONVERSATIONS AND CONSIDERED HOW TRANSPARENCY AND INTEGRITY INFLUENCE FINANCIAL LEADERSHIP. PARTICIPANTS REPORTED GREATER CONFIDENCE AND STRONGER UNDERSTANDING OF HOW THESE SKILLS TRANSFER BEYOND CHAPTER ROLES. PERSONAL-FINANCE APPLICATION RECEIVED A 4.4 OUT OF 5 SURVEY RATING. ONE PARTICIPANT SHARED THAT "CAMPFIRE BREAKS DOWN THE TRUE POWERS OF A TREASURER AND SHOWS YOU THE TOOLS YOU NEED TO SUCCEED, WHICH ARE NOT ONLY APPLICABLE TODAY BUT INTO MY FUTURE." THE PROGRAM BUILDS FINANCIAL KNOWLEDGE, COMMUNICATION SKILLS, CONFIDENCE, AND HABITS OF ACCOUNTABILITY WITH VALUE IN CHAPTER, PERSONAL, AND PROFESSIONAL SETTINGS. ELEVATE HEALTH AND WELLNESS ELEVATE SUPPORTS UNDERGRADUATE HEALTH AND WELL-BEING THROUGH EDUCATION, PREVENTION, AWARENESS, AND ACCESS TO RESOURCES. THE FOUNDATION AND NELSON LEADERSHIP INSTITUTE SUPPORTED PHI PSI'S PARTNERSHIP WITH BETTERMYND, EXPANDING ACCESS TO CONFIDENTIAL TELETHERAPY WITH LICENSED COUNSELORS AND REDUCING BARRIERS TO PROFESSIONAL MENTAL HEALTH SUPPORT. THIS APPROACH REFLECTS THE FOUNDATION'S EMPHASIS ON THE WHOLE PERSON. PROVIDING ACCESS TO A PROFESSIONAL RESOURCE ALONGSIDE EDUCATIONAL PROGRAMMING RECOGNIZES THAT WELL-BEING INFLUENCES ACADEMIC PERFORMANCE, RELATIONSHIPS, LEADERSHIP, AND A STUDENT'S ABILITY TO PARTICIPATE FULLY IN CAMPUS LIFE. IT ALSO REINFORCES THE IMPORTANCE OF RECOGNIZING WHEN ADDITIONAL SUPPORT MAY BE APPROPRIATE AND KNOWING HOW TO SEEK IT. BETTERMYND CAN ASSIST STUDENTS NAVIGATING STRESS, RELATIONSHIPS, TRANSITIONS, GRIEF, AND OTHER CHALLENGES WHILE REINFORCING SKILLS IN EMOTIONAL REGULATION, HEALTHY COPING, AND DECISION-MAKING. COMBINED WITH ELEVATE'S EDUCATIONAL FOCUS, THE RESOURCE SUPPORTS RESILIENCE AND HELPS STUDENTS CARE FOR THEMSELVES, MAKE INFORMED DECISIONS, AND BETTER SUPPORT OTHERS. FORM 990, PART III, LINE 4A CONT'D CHAPTER HOUSING AND LIVING-LEARNING COMMUNITIES THE FOUNDATION'S IMPACT GENERATION STRATEGY RECOGNIZES THAT PHYSICAL ENVIRONMENTS CONTRIBUTE TO STUDENT SUCCESS. CHAPTER HOUSES CAN FUNCTION AS LIVING-LEARNING COMMUNITIES WHERE STUDENTS STUDY, COLLABORATE, BUILD RELATIONSHIPS, PRACTICE LEADERSHIP, AND RECEIVE MENTORING. AT THEIR BEST, THESE FACILITIES ARE MORE THAN RESIDENCES. THEY PROVIDE PLACES FOR STUDYING, GROUP WORK, MENTORING, MEETINGS, AND THE DAILY INTERACTIONS THROUGH WHICH STUDENTS LEARN TO LIVE AND LEAD WITH OTHERS. SUPPORTING THE QUALIFIED EDUCATIONAL PORTIONS OF THESE ENVIRONMENTS THEREFORE COMPLEMENTS THE FOUNDATION'S INVESTMENTS IN SCHOLARSHIPS AND LEADERSHIP PROGRAMMING BY STRENGTHENING THE SETTINGS IN WHICH MUCH OF THE UNDERGRADUATE EXPERIENCE OCCURS. IN 2025, THE FOUNDATION PROVIDED $806,577 IN EDUCATIONAL HOUSING GRANTS SUPPORTING EDUCATIONAL OPERATING COSTS AND QUALIFIED EDUCATIONAL PORTIONS OF CONSTRUCTION AND IMPROVEMENT PROJECTS. THE FOUNDATION ALSO CONTINUED DETERMINING THE EDUCATIONAL-USE PERCENTAGE OF PHI PSI-OWNED FACILITIES, ADVANCING ITS STRATEGIC OBJECTIVE TO COMPLETE THIS WORK FOR 75% OF SUCH FACILITIES. THESE INVESTMENTS EXPAND ACCESS TO CHARITABLE RESOURCES FOR EDUCATIONAL SPACES AND HELP MAINTAIN ENVIRONMENTS THAT SUPPORT ACADEMIC SUCCESS, COLLABORATION, AND LEADERSHIP DEVELOPMENT. IMPACT GENERATION MIND, HEART, AND SOUL IN ACTION TAKEN TOGETHER, THE FOUNDATION'S 2025 SCHOLARSHIPS, FELLOWSHIPS, GRANTS, MENTORING RELATIONSHIPS, LEADERSHIP EXPERIENCES, AND HOUSING INVESTMENTS DEMONSTRATE IMPACT GENERATION IN PRACTICE. THE OBJECTIVE IS NOT SIMPLY MORE PROGRAMS OR MORE DOLLARS, BUT THE INTENTIONAL DEPLOYMENT OF CHARITABLE RESOURCES TO PRODUCE MEASURABLE EDUCATIONAL AND DEVELOPMENTAL OPPORTUNITIES. KEY 2025 RESULTS INCLUDE: - $518,519 INVESTED IN SCHOLARSHIPS, FELLOWSHIPS, AND GRANTS; - 706 NATIONAL SCHOLARSHIP AND FELLOWSHIP APPLICATIONS FROM 90 CHAPTERS; - 45 NATIONAL SCHOLARSHIPS AND 10 FELLOWSHIP GRANTS AWARDED; - 398 CHAPTER SCHOLARSHIPS AWARDED; - NINE LEADERSHIP PROGRAMMING GRANTS PROVIDED; - $421,609 INVESTED IN LEADERSHIP PROGRAMMING THROUGH THE NELSON LEADERSHIP INSTITUTE; - 48 CHAPTERS REPRESENTED IN NELSON LEADERSHIP INSTITUTE IN-PERSON HOSTED LEADERSHIP PROGRAMMING; - 52 STUDENTS FROM 24 CHAPTERS PARTICIPATING IN THREE EXPLORE EXPERIENCES; - 12 STUDENTS FROM NINE CHAPTERS PARTICIPATING IN TRAILHEAD; - 177 MAP MENTEES AND 218 MENTORS, RESULTING IN 129 MENTORING PAIRINGS ACROSS 57 CHAPTERS; AND - $806,577 PROVIDED IN EDUCATIONAL HOUSING GRANTS. THESE RESULTS ADVANCE THE FOUNDATION'S 2025-2027 OBJECTIVES FOR BROADER SCHOLARSHIP DISTRIBUTION, EXPANDED EDUCATIONAL HOUSING SUPPORT, AND INCREASED PARTICIPATION IN LEADERSHIP PROGRAMMING. THEY ALSO CONNECT THE FOUNDATION'S MISSION TO MEASURABLE ACTION: RAISING AND INVESTING RESOURCES ARE ESSENTIAL, BUT SUCCESS IS ULTIMATELY DEMONSTRATED BY HOW EFFECTIVELY THOSE RESOURCES EQUIP BROTHERS FOR THEIR LIVES AHEAD. AS RAYMOND CHINN REFLECTED THROUGH MAP, PHI PSI IS "MORE THAN JUST THE FOUR YEARS YOU'RE IN COLLEGE." THE FOUNDATION'S WORK EMBRACES THAT SAME IDEA BY INVESTING IN EXPERIENCES THAT CAN STRENGTHEN ACADEMIC ACHIEVEMENT, SHAPE LEADERSHIP, BROADEN RELATIONSHIPS, AND INFLUENCE COMMUNITIES LONG AFTER GRADUATION. TOGETHER, THESE INVESTMENTS ADVANCE THE FOUNDATION'S VISION: HONORABLE MEN LEADING LIVES OF CHARACTER, SERVICE AND IMPACT. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PRESENTED TO STAFF. STAFF REVIEWS THE DRAFT AND OFFERS CORRECTIONS AND EDITS PRIOR TO A SECOND DRAFT BEING REVIEWED BY THE FOUNDATION'S AUDIT COMMITTEE. AFTER ANY CORRECTIONS ARE MADE ON BEHALF OF THE AUDIT COMMITTEE, A FINAL VERSION IS PROVIDED TO THE FOUNDATION'S TRUSTEES FOR THEIR REVIEW AND COMMENT. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION PROVIDES ALL PARTIES (STAFF, TRUSTEES, ETC.) YEARLY WITH A WRITTEN COPY OF THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. INDIVIDUALS ARE REQUIRED TO EXECUTE A COPY WHICH IS THEN REVIEWED BY STAFF AND THE AUDIT COMMITTEE. ANY POTENTIAL CONFLICTS OF INTEREST THAT ARISE FROM COMPLETION OF THE FORM OR THAT SUBSEQUENTLY ARE BROUGHT TO THE ATTENTION OF STAFF OR A TRUSTEE ARE ADDRESSED BY THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE FOUNDATION'S CHIEF EXECUTIVE OFFICER IS DETERMINED AND APPROVED BY THE FOUNDATION'S TRUSTEES BASED UPON A REVIEW OF ESTABLISHED OBJECTIVES AND ANALYSIS OF LOCAL AND NATIONAL SALARY SURVEYS/DATA. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE 19,495. CHANGE IN BENEFICIAL INTERESTS IN PERPETUAL TRUSTS -72,093. CHANGE IN VALUE OF GIFT ANNUITY 2,923. FORM 990, PART XII, LINE 2C THE AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE FINANCIAL STATEMENT AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. NO PROCESSES HAVE CHANGED FROM THE PRIOR YEAR. 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