Shimer College

“The organization has not provided a complete copy of this form 990 to all members of its governing body before filing the form.”

“All trustees, officers, and key emplployees shall disclose to the board any substantive conflict of interest at the earliest practicable time. Any trustee who is uncertain whether s/he has a conflict of interest in any matter may request the board or committee to determine whether a conflict of interest exists, and the board or committee shall resolve the question by majority vote. No trustee shall vote on any matter, under consideration at a board or committee meeting, in which such trustee has a conflict of interest. The minutes of such meeting shall reflect that a disclosure was made and that the trustee having a conflictof interest abstained from voting”

“The organization's governing documents and financial statements are available upon request.”

“Interest in davis trust distribution to north central college -4,007,378.”

“Shimer college ceased operating a college on june 1, 2017. Since that time it has been wrapping up core operations including dissolution of a student loan pool, paying of all liabilities and working on collecting and distributing interest in remaining trusts or assigning their interest to the shimer great book school at north central college. All remaining activity is flowing primarily through two cash accounts which will be distributed to the shimer great books school at north central at the time of dissolution. The remaining board members of the former shimer college are involved in the wrapup and liquidation process.”

“Shimer college is currently in an ongoing liquidating process. As of the filing of this return, they have sold all their assets to northern central and currently only have two remaining board members involved in wrapping up the liquidation. The 2020 return is expected to be a final return.”