Coe College

“The executive committee of the board as been given authorization by the board of trustees to act on such matters as setting comprehensive fees, authorizing purchases and acquisitions of property and reviewing appropriate insurance coverage. All items that the executive committee has authorized are subsequently approved by consent agenda of the full board.”

“The college's budget and audit subcommittee of the board of trustees conducts a thorough review of form 990's filed by the college prior to being filed with the irs. The subcommittee receives the returns from the paid preparer, rsm us, llp the subcommittee and a representative from rsm review the returns together. All members of the board of trustees are advised of the review of the form 990s by the budget and audit subcommittee. Each member of the board of trustees receives an email (1) providing the trustee with access to a complete copy of the returns through a website accessible to the trustees and (2) informing each trustee that the returns are available for further review by any board member by the specified date, after which the returns will be filed.”

“The college requires all trustees, officers, key employees and substantial contributors to annually complete the conflict of interest questionnaire concerning transactions with coe college. The executive vice president for the college receives completed questionnaires and reviews and submits comments and findings to the president of the college and the chairman of the board of trustees. The chairman of the board then reviews and informs the full board of any issues or actions required including monitoring with an oversight committee if necessary.”

“Compensation for the president is reviewed by a board of trustees ad hoc committee. The committee considers the president on his merits, length of service and job responsibilities. The president's compensation is then compared to similar positions at other colleges using surveys and benchmarks from the acm (associated colleges of the midwest),ipcua (iowa private colleges and universities association) and other identified comparison groups. The committee then reports to the board of trustees their due diligence that was performed and documents the review. The documentation regarding the compensation review is returned to the college's legal counsel for safekeeping. The board of trustees routinely evaluates the compensation for other officers and key employees for equity and may make adjustments based on job responsibilities. These decisions are made with direct involvement of senior leadership, including the president, and involve review of comparative compensation data and are fully documented with annual reviews.”

“The college's governing documents, conflict of interest policy and financial statement are not made available to the public. The college does file various required reports such as the a-133 and audited financial statements with various governmental agencies and authorities which may then become public record. The irs form 990 filed by coe college is available to the public upon request.”

“Kim pribyl's compensation listed is for position as employee of coe college not for position as assistant secretary of board. She is a 40 hour per week employee of the college. Marie baehr timko's other compensation amount in column (f) includes $46,105 of tuition waiver for dependent.”

“It is the mission of coe college to provide students an education of superior quality that aims at preparing them for life following graduation. Our reason to exist as an institution is to ready students intellectually, professionally, and socially to lead productive and satisfying lives in the global society of the 21st century. As such, our success as a college is measured according to the success of our graduates. We believe that a liberal arts education is the best preparation for life. We believe that such an education allows students to discover what their real talents and interests are, and that it develops in them the skills, abilities, and habits of mind that will make possible a successful career in any field of endeavor, including ones that do not yet exist. Indeed, we believe that what defines a liberal arts education is its focus on cultivating in students certain fundamental abilities: the ability to think logically and analytically; the ability to communicate clearly, both in writing and speaking; the ability to use effectively computer technology; the ability to work productively as a member of a group seeking to achieve a common objective; the ability to make informed judgments, whether in the realm of ethical behavior of in that of aesthetic appreciation; the ability to foster and sustain an attitude of intellectual curiosity and creativity; and the ability to recognize and honor true excellence when found in any form or context. Furthermore,we believe that it is important for a liberal arts education to cultivate in students a desire to understand, a capacity for tolerance, and an ability to appreciate the ethnic and cultural diversity that make up human kind. It is the mission of the college to develop in students these abilities and attitudes, and in so doing to provide them an education that directs them toward a meaningful and successful life. Coe's academic program reflects a commitment to developing these abilities by its insistence that students acquire certain educational experiences. We require that students complete both our general education requirements, which ensure breadth of learning, and our requirements for a major; which guarantee depth of knowledge in a particular field. In addition, as part of each student's education, a series of intensive writing experiences, spread across the four years of study, is required. Beyond these requirements, students are encouraged to begin planning for their lives after college early on in their undergraduate careers, and, through careful advising, they are given guidance and direction in this endeavor. Indeed, the defining feature of a coe education is the requirement that every student plan and participate in one of the following: a significant experiential project, such as an internship; a major scholarly undertaking; or study abroad. These experiences will often, though not invariably, occur during the junior year. The hallmark of a coe education is our attention to each student as an individual. It is also important that the college environment at coe reflects our commitment to a diverse student body and overall college community. We believe that through listening carefully to each student as his or her interests and unique talents are formed, and through tailoring an academic program to suit each student's future, we help that student develop abilities that provide the best preparation for life.”

“During the tax year the college determined that several pieces of artwork from a gift in 1976 were improperly classified as artwork held for investment and unrestricted net assets and should have been recorded as part of the artwork collection and permanently restricted net assets. In accordance with gaap, this misstatement requires the value of the artwork to be adjusted from current fair value to fair value at the time of the gift with consideration of changes in accounting standards in subsequent years. The beginning of year balance sheet has been restated to reflect these changes.”

“Adjustment for faculty retirement plan 85,706. Change in fmv - interest rate swap -627,707. Change in annuity & life agreements -245,317. Prepayment penalty on debt restructing -988,767.”

“This process has not changed since prior tax years.”