Civic Intelligence

Benedictine College

990 • Fiscal year 2019 • EIN 48-0777079

Jul 01, 2018 to Jun 30, 2019 • Filed on May 15, 2020

1020 N 2nd StAtchison, KS 66002

(913) 367-5340

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

63rd percentile

0.42x

Higher debt load relative to assets than 63% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Liabilities / Revenue

65th percentile

0.76x

Higher debt load relative to revenue than 65% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Net Margin

35th percentile

0.5%

Higher net margin than 35% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Top Officer Pay

44th percentile

$430,685

Higher top officer pay than 44% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Asset Growth

22nd percentile

-1.0%

Faster asset growth than 22% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Revenue Growth

66th percentile

8.7%

Faster revenue growth than 66% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Assets

Down

$149,777,151

Down $1,567,350 (-1.0%) from 2018

Net Assets

Up

$86,126,413

Up $1,052,244 (+1.2%) from 2018

Liabilities

Down

$63,650,738

Down $2,619,594 (-4.0%) from 2018

Revenue

Up

$84,139,278

Up $6,724,954 (+8.7%) from 2018

Expenses

Up

$83,726,694

Up $7,015,258 (+9.1%) from 2018

Net Income

Down

$412,584

Down $290,304 (-41%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$200M$150M$100M$50M$0Assets 2010: $86,836,952Liabilities 2010: $34,214,727Net Assets 2010: $52,622,2252010Assets 2011: $96,291,036Liabilities 2011: $35,374,049Net Assets 2011: $60,916,9872011Assets 2012: $113,266,461Liabilities 2012: $48,634,592Net Assets 2012: $64,631,8692012Assets 2013: $109,482,038Liabilities 2013: $43,833,176Net Assets 2013: $65,648,8622013Assets 2014: $130,125,989Liabilities 2014: $56,242,077Net Assets 2014: $73,883,9122014Assets 2015: $134,913,587Liabilities 2015: $56,738,004Net Assets 2015: $78,175,5832015Assets 2018: $151,344,501Liabilities 2018: $66,270,332Net Assets 2018: $85,074,1692018Assets 2019: $149,777,151Liabilities 2019: $63,650,738Net Assets 2019: $86,126,4132019Assets 2020: $155,715,289Liabilities 2020: $66,213,280Net Assets 2020: $89,502,0092020Assets 2021: $163,686,664Liabilities 2021: $58,698,337Net Assets 2021: $104,988,3272021Assets 2022: $193,360,342Liabilities 2022: $66,381,409Net Assets 2022: $126,978,9332022

Highlighted filing

2019

Assets$149,777,151
Liabilities$63,650,738
Net Assets$86,126,413

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$150M$100M$50M$0Expenses 2010: $41,021,0972010Expenses 2011: $44,651,2392011Expenses 2012: $51,102,9802012Expenses 2013: $57,589,5212013Revenue 2014: $67,556,867Expenses 2014: $61,070,476Net Income 2014: $6,486,3912014Revenue 2015: $72,097,975Expenses 2015: $66,166,797Net Income 2015: $5,931,1782015Revenue 2018: $77,414,324Expenses 2018: $76,711,436Net Income 2018: $702,8882018Revenue 2019: $84,139,278Expenses 2019: $83,726,694Net Income 2019: $412,5842019Revenue 2020: $88,993,956Expenses 2020: $86,436,531Net Income 2020: $2,557,4252020Revenue 2021: $96,440,027Expenses 2021: $88,528,442Net Income 2021: $7,911,5852021Revenue 2022: $131,603,580Expenses 2022: $100,252,996Net Income 2022: $31,350,5842022

Highlighted filing

2019

Revenue$84,139,278
Expenses$83,726,694
Net Income$412,584
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
May 15, 2020
Return Version
2018v3.1
Gross Receipts
$85,318,202
Mission and Program Overview

Mission

Benedictine college's mission as catholic, benedictine, liberal arts, residential college is the education of men & women within a community of faith & scholarship.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$94,982,515$93,363,312▼ $1,619,203
Investments in Publicly Traded Securities$34,175,369$34,451,363▲ $275,994
Savings and Temporary Cash Investments$7,901,232$10,508,266▲ $2,607,034
Pledges and Grants Receivable$4,078,588$4,287,285▲ $208,697
Investments Program Related$3,176,517$2,707,054▼ $469,463
Accounts Receivable$651,004$589,975▼ $61,029
Prepaid Expenses and Deferred Charges$600,469$460,447▼ $140,022
Inventories for Sale or Use$340,532$327,356▼ $13,176
Cash and Non-Interest-Bearing Accounts$2,380,804$160,637▼ $2,220,167
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$151,344,501$149,777,151▼ $1,567,350
Other Assets Total$3,057,471$2,921,456▼ $136,015
Liabilities
Tax Exempt Bond Liabilities$57,841,381$55,026,824▼ $2,814,557
Other Liabilities$3,661,277$3,710,128▲ $48,851
Accounts Payable and Accrued Expenses$3,174,905$3,554,650▲ $379,745
Deferred Revenue$1,592,769$1,359,136▼ $233,633
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$66,270,332$63,650,738▼ $2,619,594
Net Assets / Fund Balance
Unrestricted Net Assets$48,626,804$50,716,186▲ $2,089,382
Permanently Rstr Net Assets$23,071,757$24,598,014▲ $1,526,257
Temporarily Rstr Net Assets$13,375,608$10,812,213▼ $2,563,395
Total Net Assets Fund Balance$85,074,169$86,126,413▲ $1,052,244
Total Liabilities and Net Assets / Fund Balance$151,344,501$149,777,151▼ $1,567,350

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$88,778,129$62,609,896$151,388,025
Equipment$3,410,826$14,484,473$17,895,299
Land$1,144,395-$1,144,395
Leasehold Improvements$29,962$149,808$179,770

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$29,915,676$1,632,300▲ $1,615,714$670,365$31,900,680
2018$28,005,029$841,257▲ $1,589,741$-31,262$29,915,676
2017$25,947,572$886,473▲ $1,739,394$75,000$28,005,029
2016$26,064,799$2,133,908▼ $1,167,832-$25,947,572
2015$24,406,317$3,002,410▲ $76,281$5,057$26,064,799
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Stephen D MinnisPresidentFT$307,909$122,776$430,685
Ronald J OlingerTreasurer and CFOFT$158,581$29,869$188,450
Kelly VowelsVP of Institutional Adv.FT$149,137$22,064$171,201
Kimberly C ShankmanVice PresidentFT$133,437$28,187$161,624
Timothy AndrewsExecutive Director Planned GivingFT$112,477$42,903$155,380
Rosemary WilkersonExecutive Director of DevelopmFT$108,612$33,828$142,440
Pete HelgesenDean of Enrollment ManagementFT$120,115$5,615$125,730
Linda HenryVice President of Student LifeFT$107,473$14,616$122,089
Kristie R ScholzAsst TreasurerFT$82,709$13,187$95,896

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Aramark ServicesFood Service1101 Market St, Philidelphia, PA 66002$4,062,554
Lawhon ConstructionConstruction519 MAIN ST, St Joseph, MO 64501$2,878,041
Fieldturf USA INCConstruction175 N INDUSTRIAL BLVD NE, Calhoun, GA 30701$660,154
Hundley Construction INCConstruction1900 MAIN ST, Atchison, KS 66002$447,233
Allied Universal Security ServicesSecurityPO BOX 828854, Philadelphia, PA 19182-8854$320,687
Revenue and Support

Revenue Composition

Contributions and Grants
$8,235,616
Program Service Revenue
$73,346,441
Investment Income
$1,464,590
Other Revenue
$1,092,631
All Other Contributions
$7,286,502
Change in Net Assets
$412,584

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded19$224,227Fair Market Value (FMV)
Real Estate Residential1$97,000Fair Market Value (FMV)
Other Non Cash Contri Table24$21,222Fair Market Value (FMV)
Food Inventory7$5,601Fair Market Value (FMV)
Total Noncash Contributions51$348,050-

Audited Revenue Reconciliation

Revenue per Audited Statements
$53,306,097
Revenue Not Reported on Financial Statements
$30,833,181
Revenue Not Reported on Form 990
$1,085,607
Other Revenue Adjustments
$30,721,523
Total Revenue per Audited Statements
$54,391,704
Total Revenue per Form 990
$84,139,278
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$30,880,998
Other Expenses$27,252,258
Salaries, Compensation, and Employee Benefits$25,429,179
Total Fundraising Expense$1,687,445
Professional Fundraising Fees$164,259

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$30,738,499--$30,738,499
Other Salaries and Wages$15,045,138$1,976,891$696,966$17,718,995
Depreciation Depletion$6,501,860$799,054$19,345$7,320,259
Fees for Services Other$5,336,775$302,937$98,709$5,738,421
Other Employee Benefits$2,250,559$2,645,470$79,909$4,975,938
All Other Expenses$514,050$1,807,424$208,076$2,529,550
Interest$1,995,219--$1,995,219
Occupancy$1,400,689$331,078$59,821$1,791,588
Office Expenses$1,320,978$360,463$57,376$1,738,817
Travel$1,281,862$65,845$34,980$1,382,687
Payroll Taxes$1,033,607$124,546$49,018$1,207,171
Other Expenses$919,826--$919,826
Current Officers, Directors, Trustees, and Key Employees$137,498$710,680-$848,178
Information Technology$207,112$607,051$22$814,185
Pension Plan Contributions$429,711$46,382$21,711$497,804
Insurance$226,861$58,225$10,598$295,684
Comp Disqual Persons--$181,093$181,093
Fees for Services Professional Fundraising--$164,259$164,259
Fees for Service Investment Mgmnt Fees-$111,658-$111,658
Fees for Services Legal-$104,391-$104,391
Conferences and Meetings$88,351$5,657$3,200$97,208
Foreign Grants$83,019--$83,019
Advertising$19,917$53,253$2,362$75,532
Fees for Services Accounting-$72,729-$72,729
Grants to Domestic Orgs$59,480--$59,480
Total Functional Expenses$71,855,515$10,183,734$1,687,445$83,726,694

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$83,726,694
Total Expenses per Audited Statements$53,339,460
Expenses per Audited Statements$52,876,537
Expenses Not Reported on Financial Statements$30,850,157
Other Expense Adjustments$30,738,499
Expenses Not Reported on Form 990$462,923
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Cardinal Newman SocietyManassas, VA501(c)(3)Sponsorship$10,000
NapaIrvine, CA501(c)(3)Sponsorship$10,000
Duc in AltumSan Juan Capistrano, CA501(c)(3)Sponsorship$6,000

International Summary

Spending
$1,020,505

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (including Iceland and Greenland)Program ServicesEducation--$742,560
South AmericaProgram Services---$85,894
Central America and the CaribbeanProgram ServicesEducation Mission Trip--$42,050
Europe (Including Iceland and Greenland)GrantmakingEducation/mission Trip--$39,022
Middle East and North AfricaProgram ServicesEducation/mission Trip--$23,528
North AmericaProgram Services---$18,431
East Asia and the PacificProgram Services---$17,779
Central America and the CaribbeanGrantmakingEducation/mission Trip--$13,200
Sub-Saharan AfricaGrantmakingEducation--$9,900
North AmericaGrantmakingEducation/mission Trip--$7,658
South AmericaGrantmakingEducation/mission Trip--$6,896
South AsiaGrantmaking---$6,343
South AsiaProgram Services---$4,683
Europe (including Iceland and Greenland)Program Services---$2,561
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$195,204
Professional Fundraising Fees$164,259
Fundraising Gross Income$105,544
Gaming Direct Expenses$0
Gaming Gross Income$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Scholarship Bal$985,395$68,960$66,927$2,033
Soccer Golf Tou$36,988$19,082$543$18,539
Total Events$1,050,010$105,544$195,204$-89,660
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
See Part V----

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refundable Govt Loan Programs$2,997,516
Annuity & Trust Obligations$353,757
Student and Other Deposits$343,080
Asset Retirement Obligation$15,775

Bond Issues

BondIssuerIssuedIssue PricePurpose
AAtchison County Kansas2016-07-07$8,380,000See Note in Part VI.
DAtchison County Kansas2014-01-07$8,000,000SEE NOTE IN PART VI.
CAtchison County Kansas2018-07-05$7,625,000See Note in Part VI.
BAtchison County Kansas2018-02-22$6,358,361See Note in Part VI.
BAtchison County Kansas2013-03-27$4,905,000SEE NOTE IN PART VI.
CAtchison County Kansas2013-09-30$4,735,000SEE NOTE IN PART VI.
AAtchison County Kansas2012-04-26$1,085,000SEE NOTE IN PART VI.

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$8,380,000$8,296,200$955,000$83,800
D$8,000,000$0$0$143,708
C$7,625,000$7,474,410$740,000$150,590
B$6,358,361$6,301,166$720,000$57,195
B$4,905,000$4,814,935$950,000$90,065
C$4,735,000$0$0$88,666
A$1,805,000$1,770,375$1,476,000$34,625

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
Yes
Form 8038-T filed
Yes
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
Yes
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Daniel fangman and s. Esther fangman, osb have a family relationship.

Form 990, Part VI, Section A, Line 7A

The members of the corporation who are class a members of the board of directors shall have the sole and exclusive power and authority to select and elect the successor to the elective class a members of the board of directors in such fashion as they deem appropriate and shall present the successors for service on the board. The members of the corporation who are class b members of the board of directors shall have the sole and exclusive power and authority to select and elect the successors to the elective class b members of the board of directors in such fashion as they deem appropriate and shall present the successors for service on the board.

Form 990, Part VI, Section A, Line 7B

Subject to the limitations and provisions of the articles of incorporation and of the bylaws with respect to the election of directors, each member shall have one vote on all matters coming before the members. Any action by the members of the corporation, unless specifically set forth in the articles of incorporation of the corporation (the articles of incorporation) or in the bylaws, shall require an affirmative vote of a majority of the members of the corporation from each individual class of directors.

Form 990, Part VI, Section B, Line 11B

An independent accounting firm prepares and reviews the 990. The 990 is then reviewed by the organization's officers and accounting personnel. Any questions or concerns the organization's officers and accounting personnel have are addressed and any corrections or clarifications are made. The 990 is then provided to the finance committee of the board and the full board of directors for review prior to filing.

Form 990, Part VI, Section B, Line 12C

At the time of hire or election (in the case of directors) and annually thereafter, the officers, directors, and key employees shall provide the applicable conflict of interest disclosures which shall be completed to identify any relationships, positions, or circumstances in which it is believed a conflict may arise. If a conflict arises, the officer, director, or key employee abstains from the vote of the conflicted position. An appropriate report shall be submitted to the executive board concerning any interest disclosed.

Form 990, Part VI, Section B, Line 15A & B

Line 15a - the organization's process for determining president compensation began with the board requiring a 5 year review of the president's salary and a review for the same period at colleges of like sizes. A compensation study was done by cbiz in 2016. Additionally, the board required a comprehensive review of his salary to include non-tangible benefits. The organization's process for determining president compensation begins with an initiative lead by the chairman of the governing board. The chairman compares compensation and salary data with other organizations of a similar size and industry. The chairman reviews the data and makes a recommendation to the board of directors in a closed executive committee meeting where the compensation is then voted upon. Line 15b - the president conducts an annual review of other officer and key employee's compensation based on comparable salary data of other organizations of similar size and industry.

Form 990, Part VI, Section C, Line 19

The organization's governing documents, conflict of interest policy and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Benedictine College
EIN
48-0777079
In Care Of
% RONALD J OLINGER
Phone
9133675340
Address
1020 N 2ND ST, ATCHISON, KS 66002

Signing Officer

Name
Ronald J Olinger
Title
CFO
Phone
9133675340
Signed
2020-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen D Minnis
Formed
1971
Legal Domicile
Ks
Voting Board Members
31
Independent Board Members
30
Employees
1,290
Volunteers
31

Preparer

Firm
Bkd Llp
Address
1201 Walnut Suite 1700, Kansas City, MO 64106-2246
Preparer
Michael J Engle
Phone
8162216300
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 1

Benedictine college is a catholic, benedictine, liberal arts, residential college. Our mission is to educate men and women within a community of faith and scholarship. Building a great catholic college requires a community-wide commitment to excellence. We dedicate ourselves to educating students to become leaders in the benedictine tradition, who will transform the world through their commitment to intellectual, personal and spiritual greatness.

Form 990, Part III, Line 4A

BENEDICTINE COLLEGE IS A CATHOLIC, BENEDICTINE, LIBERAL ARTS, RESIDENTIAL COLLEGE WITH A MISSION TO EDUCATE MEN AND WOMEN WITHIN A COMMUNITY OF FAITH AND SCHOLARSHIP. WE HAVE A VISION TO BUILD ONE OF THE GREAT CATHOLIC COLLEGES IN AMERICA, AND ATTAINING THAT VISION REQUIRES A COMMUNITY-WIDE COMMITMENT TO EXCELLENCE. WE DEDICATE OURSELVES TO EDUCATING STUDENTS TO BECOME LEADERS IN THE BENEDICTINE TRADITION, WHO WILL TRANSFORM THE WORLD THROUGH THEIR COMMITMENT TO INTELLECTUAL, PERSONAL AND SPIRITUAL GREATNESS. BENEDICTINE COLLEGE IS LOCATED IN ATCHISON, KANSAS, ON A 120-ACRE CAMPUS OVERLOOKING THE MISSOURI RIVER, ABOUT 50 MILES NORTH OF KANSAS CITY, MISSOURI. THE COLLEGE ALSO MAINTAINS A CAMPUS IN FLORENCE, ITALY. BENEDICTINE COLLEGE HAS ENJOYED ENROLLMENT GROWTH FOR THE PAST TWO DECADES AND CURRENTLY HAS A FULL-TIME UNDERGRADUATE STUDENT BODY OF 1,936 STUDENTS (2019-2020), NEARLY TRIPLING BENEDICTINE COLLEGE'S ENROLLMENT FROM 20 YEARS AGO. FOR SEVERAL YEARS NOW, THE AVERAGE GPA HAS BEEN THE HIGHEST OF ANY FRESHMAN CLASS AT ANY COLLEGE OR UNIVERSITY IN KANSAS. IT IS OBVIOUS THAT BENEDICTINE COLLEGE IS ATTRACTING BOTH MORE STUDENTS AS WELL AS THE BEST AND THE BRIGHTEST. OVER 80% OF UNDERGRADUATE STUDENTS LIVE ON CAMPUS IN ACCORDANCE WITH THE COLLEGE'S STRONG RESIDENTIAL TRADITION. TO KEEP UP WITH ITS GROWTH, BENEDICTINE COLLEGE HAS OPENED 11 NEW RESIDENCE HALLS SINCE THE YEAR 2000. THE COLLEGE RECENTLY OPENED THE MURPHY RECREATION CENTER, A HEALTH AND FITNESS FACILITY WITH EXERCISE MACHINES, ROOMS FOR FITNESS AND SPINNING CLASSES, TWO BASKETBALL COURTS, AND AN INDOOR TURFED FIELD. THE RENOVATION AND EXPANSION OF WESTERMAN HALL OF SCIENCE & ENGINEERING IS COMPLETE, ADDING 40,000 SQUARE FEET OF LABS AND TEACHING SPACE TO THE EXISTING 60,000 SQUARE FEET. THE LARGEST CAPITAL PROJECT IN THE HISTORY OF THE COLLEGE, THE WESTERMAN UPGRADE WILL RESULT IN ONE OF THE BEST S.T.E.M. FACILITIES OF ANY SMALL COLLEGE IN AMERICA. NATIONAL SURVEYS PLACE BENEDICTINE'S STUDENT LIFE PROGRAM HIGHEST IN OVERALL RESIDENT SATISFACTION AND BENEDICTINE COLLEGE'S RETENTION RATE IS CONSISTENTLY ABOVE 90%. OUR ATHLETES HAVE EXCELLED ON THE FIELD AS WELL AS OFF, WITH 11 VARSITY SPORTS TEAMS RECEIVING NAIA SCHOLAR TEAM RECOGNITION AND BENEDICTINE COLLEGE BEING NAMED A CHAMPIONS OF CHARACTER FIVE STAR INSTITUTION BY THE NATIONAL ASSOCIATION OF INTERCOLLEGIATE ATHLETICS. ONE OF OUR STUDENTS WAS NAMED A 1st TEAM ALL-AMERICAN AND A 1st TEAM SCHOLAR ATHLETE ALL-AMERICAN AND WON THE NAIA NATIONAL CHAMPION OF CHARACTER AWARD. IN NATIONAL POST-SEASON COMPETITION, THE WOMEN'S SOCCER TEAM MADE IT TO THE FINAL FOUR. IN THE AREA OF ACADEMIC EXCELLENCE, BENEDICTINE IS NOW ONE OF THE FEW CATHOLIC COLLEGES IN THE NATION OFFERING ABET-ACCREDITED PROGRAMS IN CHEMICAL, CIVIL, ELECTRICAL, AND MECHANICAL ENGINEERING. OF MORE THAN 250 CATHOLIC COLLEGES IN AMERICA, BENEDICTINE IS ONE OF ONLY FOUR TO OFFER AN ARCHITECTURE PROGRAM. ON TOP OF THAT, BENEDICTINE COLLEGE IS THE ONLY INSTITUTION IN THE NAIA TO OFFER BOTH ARCHITECTURE AND ENGINEERING. SEVERAL OTHER NEW MAJORS HAVE BEEN ADDED IN RECENT YEARS, INCLUDING ART, CRIMINOLOGY, ENGINEERING PHYSICS, FINANCE, INTERNATIONAL BUSINESS, INTERNATIONAL STUDIES, EVANGELIZATION & CATECHESIS AND NURSING. THE COLLEGE HAS NOW GRADUATED THE FIRST SEVEN CLASSES OF BENEDICTINE ENGINEERS AND NURSES. ONCE AGAIN, ALL THE NURSES PASSED THEIR EXAMS AND HAVE JOBS IN THE MEDICAL FIELD AND THE ENGINEERS ARE HIGHLY SOUGHT. THIS YEAR, BENEDICTINE COLLEGE APPEARED IN THE TOP 15 COLLEGES IN THE MIDWEST IN THE ANNUAL U.S. NEWS & WORLD REPORT RANKINGS OF AMERICA'S BEST COLLEGES. IN ADDITION, THE CARDINAL NEWMAN SOCIETY NAMED BENEDICTINE COLLEGE ONE OF THE TOP CATHOLIC COLLEGES IN THE UNITED STATES IN ITS PUBLICATION, THE NEWMAN GUIDE TO CHOOSING A CATHOLIC COLLEGE. AFTER AN EXTENSIVE NATIONAL STUDY, FIRST THINGS MAGAZINE ALSO NAMED BENEDICTINE COLLEGE TO ITS TOP 20. THE SCHOOL IS RANKED NUMBER 18 IN THE NATION BY THEIR RESEARCH, WHICH INCLUDED MORE THAN 2,000 C

Form 990, Part XI, Line 9

Increase in csv of life insurance $ 4,661 partnership income $ 16,976 --------- $ 21,637

Financial Statement Notes

Schedule D, Part III, Line 4

Frederick hart's washington national cathedral collection is an impressive assemblage of sculptures that includes the bas-relief ex nihilo and the life-size castings of the biblical figures adam, st. Peter and st. Paul. In addition to these sculptures from the national cathedral in washington, dc, the artist is best known for his bronze sculptures of three soldiers for the national vietnam war memorial. Benedictine college is the only college to have these first castings available for viewing on a daily basis. Ex nihilo is on exhibit inside the ferrell academic center and the statues of adam, st. Peter and st. Paul are located in the heart of campus along the raven walk. An 8-foot bronze statue of the sacred heart of jesus appears in the raven memorial park. The statue is by noted sculptor e. Spencer schubert, whose work also appears in the royals baseball hall of fame, kansas state university, and in the capital building for the state of missouri. Schubert modeled the face of sacred heart of jesus statue after the image on the shroud of turin, fourteen folds in jesus. Robe represents the stations of the cross; three folds in the center represent the trinity. The presence of these pieces exposes our students and our campus visitors to some truly magnificent artwork, and is another illustration of our commitment to a broad liberal arts education. Other works on campus include a collection of bronze works by sculptor bill hopen in st. Scholastica plaza. This inlcudes the bronze statue of st. Scholastica, the bronze statue of nobel prize winner wangari maathai, the bronze gathering of a benedictine sister with two students, and the bas-relief depicting the arrival of the sisters in atchison in 1863 that is on the front of elizabeth hall. A separate bronze statue of st. Benedict is installed outside the haverty center and is by sculptor tim mispagel. Mispagel is also in the process of completing a bronze sculpture of a soaring raven that will stand in the entryway to westerman hall of science and engineering and will represent the quote from st. John paul ii that faith and reason are the two wings on which the human spirit soars. These pieces expose our students and our campus visitors to some truly magnificent artwork, and are another illustration of our commitment to a broad liberal arts education.

Schedule D, Part V, Line 4

The primary purpose of the endowment is to fund scholarships. The endowment funds are also used to fund business programs and general operations of the college.

Schedule D, Part X, Line 2

Management has evaluated the college's income tax positions under the guidance included in asc 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements.

Schedule D, Part XI, Line 2D

Change in csv of life insurance $ 4,661 bookstore cogs $ 267,719 fundraising expenses $ 195,204 ------------- $ 467,584

SCHEDULE D, PART XI, Line 4B

Scholarships $ 30,738,499 partnership income $ (16,976) ------------- $ 30,721,523

Schedule D, Part XII, Line 2D

Bookstore cogs $ 267,719 fundraising expenses $ 195,204 ------------- $ 462,923

Schedule D, Part XII, Line 4B

Scholarships $ 30,738,499

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