John Carroll University

“The board of members of john carroll university shall consist of: (1) the president of john carroll university, ex-officio member; (2) the rector of the john carroll jesuit community corporation, ex-officio member; (3) two members of the john carroll jesuit community corporation elected to serve two year staggered terms, by those members in good standing of the society of jesus who are assigned to the john carroll jesuit community corporation and provide service to or have been retired from the university.”

“The board of members shall have and exercise such powers and authority provided under applicable law as are consistent with the mission of the university, including without limitation, the powers to: (a) elect and to re-elect the directors of the corporation from the slate of nominees recommended by the board of directors (b) remove any director, upon recommendation of the board of directors”

“The board of members shall have and exercise such powers to amend the articles and the code of regulations; sell or dispose of all or substantially all of the assets of the corporation; and merge or dissolve the corporation.”

“The office of the university's vp of finance prepares the form 990, which is then reviewed by the university's independent auditor before it is presented to the university's audit committee for review and approval. The full public inspection copy of the final form 990 is provided to each member of the board of directors prior to it being filed with the irs. The public inspection copy removes the names and addresses of the donors listed in schedule b of the form 990 filed with the irs.”

“The university has written conflict of interest policies that require its officers, directors, and employees to disclose potential conflicts of interest involving themselves and/or their family members. The university's employees are required to review the applicable policy on an annual basis, acknowledge compliance, and disclose any actual or potential conflict of interest. In addition, each member of the board of directors fills out an annual questionnaire in which potential conflicts of interest are disclosed. The responses to these two processes are reviewed for any disclosed actual or potential conflicts of interest. The university's conflict of interest policy prohibits involvement in university decision- making by any officer, administrator, employee or director who has a conflict that is not managed. In the event of the existence of a conflict of interest, appropriate conflict management measures are implemented. Violations of the university's conflicts policies may result in sanctions, up to and including termination of employment.”

“The university's executive and human resources committees are responsible for establishing, reviewing and approving compensation levels for the university's president. The committees review comparable compensation data for similarly qualified persons in functionally comparable positions at similarly situated organizations in establishing compensation levels. The committees review the compensation of the university's president annually. Contemporaneous documentation and recordkeeping are recorded on all committee deliberations and decisions regarding the compensation arrangement for the university's president.”

“The university's executive and human resources committees are responsible for establishing, reviewing and approving compensation levels for the university's officers and key employees. The committees review comparable compensation data for similarly qualified persons in functionally comparable positions at similarly situated organizations in establishing compensation levels. The committees review the compensation of the university's officers and key employees annually. Contemporaneous documentation and recordkeeping are recorded on all committee deliberations and decisions regarding the compensation arrangement for the university's officers and key employees.”

“The university's form 1023 application for tax exemption and forms 990 and 990-t (current and prior three years) are available to the public upon request. The university's audited financial statements, articles of incorporation, code of regulations and conflict of interest policy are available to the public upon request.”

“A significant number of alumni and other friends of the university volunteer their time advancing the mission of the university and helping attract students to attend john carroll.”

“From its modest origin in 1886 as saint ignatius college on cleveland's near west side, john carroll today is widely recognized as a transformative university that excels in undergraduate and post-graduate education, attracting students from 35 states and 48 countries. The university strives to develop each student as a whole person - mind, body, and soul. At the same time, students are challenged to make a difference in the world through leadership and service. As a jesuit catholic university, john carroll offers a rigorous education based on a well-developed liberal arts core curriculum, including a variety of academic programs in the arts and sciences, and education. U.s. News & world report annually ranks john carroll among the top 10 universities in the midwest that grant master's degrees, and the university's john m. And mary jo boler school of business holds dual aacsb accreditation - an international distinction awarded by the association to advance collegiate schools of business placing it in the top five percent of business schools worldwide. John carroll consistently ranks as one of the top schools in the midwest for retention rates and graduation rates, which significantly exceed u.s. And ohio averages. The university's 14:1 student/faculty ratio ensures individual attention and an interactive experience. 85% of all classes have fewer than 30 students with no class exceeding 50 students. The university educated 3,125 undergraduate students and 575 graduate students; offered 45 bachelor degree majors and 21 graduate school programs; and conferred 723 bachelor and 193 masters degrees in the 2014-2015 academic year. John carroll is recognized for excellent retention and graduation rates. 87% of jcu freshmen return as sophomores, and 66% of jcu undergrads receive their bachelor's degrees in four years, compared with 53% of other four- year private schools nationwide, and 33% of four-year public schools. John carroll university has been named to the president's higher education community service honor roll for seven consecutive years. Service to others is a defining element of the university, where more than two- thirds of the student body particpate in service activities. Students have many opportunities to engage with the local community from the time they are freshmen. Our students learn from distinguished faculty who are experts in their respective fields. 96% of our 193 full-time teaching faculty members hold doctoral degrees or the terminal degree in their field; nine are fulbright fellows. The majority of our faculty have published books, articles, or received research grants in the past two years. The university's varsity sports teams compete at the ncaa division iii intercollegiate level, and have won over 70 league titles and have placed among the top 10 division iii schools in the nation on several occasions. More than 80 varsity athletes have been named division iii all-americans with six national champions, three national players of the year and one academic all-american of the year. Nearly 500 undergraduates particpate in 24 varsity men's and women's sports. Students also have access to intramural sports, club sports, and other fitness and recreational activities. John carroll university welcomes students and faculty from different religious backgrounds and value systems in the belief that the educational environment which the university provides is one which these students and faculty may find congenial, rewarding, and enriched by their presence. Within this environment there is concern for the human and spiritual developmental needs of the students and a deep respect for the freedom and dignity of the human person. A faculty not only professionally qualified, but also student oriented, considers excellence in interpersonal relationships as well as academic achievement among its primary goals.”

“Scholarships and grants-in-aid netted against student fees -66,210,737 change in value of split-interest agreements -70,101 change in fair value of interest rate swap agreement -895,566 rental expense is not netted against revenue on audit 3,389,176 miscellaneous receipts are netted against expenses on f/s -831,766 tax benefit to rental activities on audited financials -9,117 rental expense is not netted against revenue on audit -3,389,176 murphy hall holdings not in 990 -185,550 scholarships and grants-in-aid netted against student fees 66,210,737 miscellaneous receipts netted against expenses on f/s 831,766”

“Non-controlling interest capital contribution 6,252,151 increase in noncontrolling interest for capital contributions in murphy hall master tenant and murphy hall manager. The audited consolidated financial statements are comprised of the university's operations and its wholly owned subsidiares including murphy hall holdings, inc. (holdings). Holdings is a c-corporation and it's activities are not recorded in the university's 990 return. Holdings was organized in 2014 to facilitate the renovation of murphy hall which is a 309-bed on-campus building included in the john carroll university north quad historic district that is listed on the national register of historic places, which makes it eligible for federal and state (ohio) historic tax credits (tax credits) on qualified building renovation expenditures. Holdings has 98.8% ownership interest in murphy hall manager, llc (manager) and a 1.0% ownership interest in murphy hall master tenant, llc (master tenant). Murphy hall, llc holds title to the murphy hall building and land, and is 90% owned by manager and 10% owned by master tenant. Collectively, these murphy hall-related entities and their non-controlling interests, served as conduits for the receipt of the tax credits in 2014. All significant interorganizational accounts and transactions have been eliminated in consolidation.”