2024-05-09T13:53:26-05:00 2023-06-30 363168081 SIKICH LLP 17335 GOLF PARKWAY SUITE 500 BROOKFIELD WI 53045 990 2022-07-01 237055802 CONCORDIA UNIVERSITY FOUNDATION CONC 7087718300 7400 AUGUSTA STREET RIVER FOREST IL 603051499 RANDALL BARFIELD CHIEF FINANCIAL OFFICER 7087718300 2024-05-08 1 RANDALL BARFIELD 999009999 0 JILL M BOYLE CPA P01246734 2627549400 2024-05-08 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z RANDALL BARFIELD 7400 AUGUSTA STREET RIVER FOREST IL 603051499 5698843 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 751749 1750874 0 0 1846043 1002241 0 0 2597792 2753115 2063207 1674624 0 0 0 0 0 0 0 94393 99184 2157600 1773808 440192 979307 26568181 28476305 1163910 0 25404271 28476305 THE PURPOSE OF CONCORDIA UNIVERSITY FOUNDATION IS TO ASSIST IN THE EDUCATIONAL AND RELIGIOUS ACTIVITIES OF CONCORDIA UNIVERSITY (A.K.A. CONCORDIA UNIVERSITY CHICAGO). 0 0 807569 807569 THIS AMOUNT REPRESENTS THE RELEASE OF FUNDS TO CONCORDIA UNIVERSITY TO PROVIDE FINANCIAL AID TO CONCORDIA UNIVERSITY, IN ACCORDANCE WITH THE STIPULATIONS OF DONORS. 732903 732903 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 THE STIPULATIONS OF DONORS. 134152 134152 THIS AMOUNT REPRESENTS THE RELEASE OF FUNDS TO CONCORDIA UNIVERSITY TO SUPPORT THE OPERATIONS OF ACADEMICS PROGRAMS, STUDENT SERVICES, AND ACADEMIC SUPPORT, IN ACCORDANCE WITH THE STIPULATIONS OF DONORS. 1674624 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 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 0 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 X X RANDALL BARFIELD 7082093350 7400 AUGUSTA STREET RIVER FOREST IL 60305 DR RUSSELL DAWN COO 2.00 48.00 X X 0 231912 51235 LISA KRALINA TREASURER & CFO (END 1/9/22) 2.00 48.00 X X 0 10563 984 JEFF HYNES PRESIDENT & CEO 5.00 45.00 X X 0 179933 43389 RANDALL BARFIELD TREASURER & CFO (START 3/14/22) 2.00 48.00 X X 0 162656 0 SUSAN ROSBOROUGH CHAIR (END 12/11/23) 3.00 X X 0 0 0 KAREN JEAN DOERING BOARD MEMBER 1.00 X 0 0 0 CHARLES KRAFT BOARD MEMBER 1.00 X 0 0 0 ROGER KRUEL BOARD MEMBER 1.00 X 0 0 0 DR ROBERT LIBKA BOARD MEMBER 1.00 X 0 0 0 WILLIAM STEVENSON BOARD MEMBER 1.00 X 0 0 0 JOEL ZIELKE BOARD MEMBER 1.00 X 0 0 0 ANDREA ANDERSON BOARD MEMBER 1.00 X 0 0 0 AUDREY STINSON BOARD MEMBER (EFF 11/29/22) 1.00 X 0 0 0 0 585064 95608 0 0 1 0 0 1750874 1750874 882294 882294 3065675 2945728 119947 119947 119947 2753115 0 0 1002241 1674624 1674624 99184 99184 1773808 1674624 99184 0 107895 26460286 28451828 0 24477 26568181 28476305 1163910 0 1163910 0 X 25404271 28476305 25404271 28476305 26568181 28476305 979307 2092727 0 X 0 1 X 1 0 X X 1 CONCORDIA UNIVERSITY 362191242 2 1 1674624 0 1 1674624 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 25404270 1750874 2995786 632516 1042108 28476306 30580634 751749 -3864906 721411 1341796 25404270 23228631 669794 7639557 690797 266551 30580634 24705467 590584 -1144661 658725 264034 23228631 23697259 853948 1077269 656667 266342 24705467 0.32501 0.48686 0.18813 0 0 0 X PART V, LINE 4: DONATIONS GIVEN TO 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 OPERATIONS 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. 1 CONCORDIA UNIVERSITY 7400 AUGUSTA STREET RIVER FOREST IL 60305 362191242 501(C)(3) 1674624 0 SCHOLARSHIPS AND OTHER EXPENSES 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 DONOR, 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 DR RUSSELL DAWN COO 0 231912 0 0 0 0 0 23805 0 27430 0 283147 0 0 JEFF HYNES PRESIDENT & CEO 0 179933 0 0 0 0 0 15528 0 27861 0 223322 0 0 RANDALL BARFIELD TREASURER & CFO (START 3/14/22) 0 162656 0 0 0 0 0 0 0 0 0 162656 0 0 PART I, LINE 3 WHILE CONCORDIA UNIVERSITY FOUNDATION DOES NOT DIRECTLY COMPENSATE ANY INDIVIDUALS, 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. FORM 990, PART VI, SECTION A, LINE 7A ACCORDING TO CONCORDIA UNIVERSITY FOUNDATION'S BYLAWS, "THE BOARD OF REGENTS OF CONCORDIA UNIVERSITY CHICAGO SHALL BE REPRESENTATIVE OF THE CORPORATE MEMBER." FURTHERMORE IT STATES, "DIRECTORS OF THE CORPORATION SHALL BE ELECTED BY THE CORPORATE MEMBER." 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 TO PREPARE THE 990, THE UNIVERSITY CONTROLLER PROVIDED THE NECESSARY INFORMATION TO THE UNIVERSITY'S AUDITOR, SIKICH. SIKICH PREPARED THE FIRST DRAFT AND SENT IT TO THE CONTROLLER FOR REVIEW, ALONG WITH A LIST OF QUESTIONS. THE CONTROLLER AND CFO REVIEWED THE DRAFT AND RESPONDED TO THE QUESTIONS. SIKICH THEN PROVIDED A FINAL DRAFT TO THE CONTROLLER WHICH WAS THEN SENT TO THE BOARD OF REGENTS' FINANCE COMMITTEE. THE COMMITTEE WAS AUTHORIZED, THROUGH BOARD RESOLUTION, TO ACT ON BEHALF OF THE ENTIRE BOARD TO REVIEW AND APPROVED THE IRS FORM 990. DURING THIS REVIEW, MEMBERS OF THE COMMITTEE WERE ABLE TO PROVIDE QUESTIONS OR COMMENTS TO THE CFO AND CONTROLLER, IF ANY. IF NEEDED, THE 990 WAS AMENDED. THE COMMITTEE THEN VOTED TO APPROVED THE FILING OF THE IRS FORM 990 THROUGH RESOLUTION. AFTER THIS VOTE, THE IRS FORM 990 WAS SENT TO THE ENTIRE BOARD OF REGENTS. THE FINAL, APPROVED, IRS FORM 990 WAS THEN FILED. WHILE NOT ANTICIPATED, IF A QUESTION OR CONCERN IS EXPRESSED BY A MEMBER OF THE BOARD OF REGENTS AT AN UPCOMING BOARD MEETING WHICH RESULTS IN A NEED TO CORRECT THE ALREADY FILED RETURN, THE CONTROLLER WILL WORK WITH SIKICH TO FILE AN AMENDED RETURN.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. ADDITIONALLY, ALL OFFICERS AND KEY EMPLOYEES ARE REGULARLY REQUIRED TO SELF-REPORT AND DISCLOSE ANY SUCH CONFLICTS ON AN ONGOING BASIS. FORM 990, PART VI, SECTION C, LINE 19 IN ADDITION TO PROVIDING ALL THE DOCUMENTS UPON REQUEST, CONCORDIA UNIVERSITY FOUNDATION POSTS ITS FINANCIAL STATEMENTS AND IRS FORM 990 ON CONCORDIA UNIVERSITY'S WEBSITE. (HTTP:/WWW.CUCHICAGO.EDU.ABOUTCONCORDIA/OURMISSION/FINANCIALINFORMATION/) CONCORDIA UNIVERSITY 7400 AUGUSTA STREET RIVER FOREST IL 60305 362191242 EDUCATION IL 501(C)(3) N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 CONCORDIA UNIVERSITY B 1674624 FMV