Form990
Click to see attachment
Department of the Treasury
Internal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except black lung benefit trust or private foundation)

MediumBullet The organization may have to use a copy of this return to satisfy state reporting requirements.
OMB No. 1545-0047
2011
Open to Public Inspection
A For the calendar year, or tax year beginning 07-01-2011 and ending 06-30-2012
BCheck if applicable:
CName of organization
North Central College
 
Doing Business As
 
 
Number and street (or P.O. box if mail is not delivered to street address)
30 N Brainard Street
 
Room/suite
City or town, state or country, and ZIP + 4
Naperville, IL60540
D Employer identification number

36-2169157
E Telephone number

G Gross receipts $ 129,087,540
F Name and address of principal officer:
Harold Wilde
30 N Brainard Street
Naperville,IL60540
I
Tax-exempt status: (   ) LeftBullet (insert no.) or
J
Website:MediumBullet
www.noctrl.edu
H(a)
Is this a group return for
affiliates?
H(b)
Are all affiliates included?
If "No," attach a list. (see instructions)
H(c)
Group exemption number MediumBullet  
K Form of organization:
 
L Year of formation: 1861
M State of legal domicile: IL
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: North Central College is a community of learners dedicated to preparing students to be informed, involved, principled and productive citizens and leaders over their lifetime.
2 Check this box MediumBullet
3 Number of voting members of the governing body (Part VI, line 1a)..... 3 36
4 Number of independent voting members of the governing body (Part VI, line 1b) .... 4 29
5 Total number of individuals employed in calendar year 2011 (Part V, line 2a) ... 5 1,887
6 Total number of volunteers (estimate if necessary) .... 6 34
7a Total unrelated business revenue from Part VIII, column (C), line 12 .. 7a 429,199
b Net unrelated business taxable income from Form 990-T, line 34 .. 7b 0
Revenues; Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 6,423,262 10,865,466
9 Program service revenue (Part VIII, line 2g) ......... 84,041,470 91,290,673
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 3,742,310 4,065,026
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 1,811,090 1,786,173
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)................... 96,018,132 108,007,338
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 28,891,040 32,365,210
14 Benefits paid to or for members (Part IX, column (A), line 4)..... 0 0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 32,811,685 34,328,871
16a Professional fundraising fees (Part IX, column (A), line 11e)..... 0 11,650
b Total fundraising expenses (Part IX, column (D), line 25) MediumBullet2,393,490    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24f).... 28,298,979 30,855,774
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 90,001,704 97,561,505
19 Revenue less expenses. Subtract line 18 from line 12....... 6,016,428 10,445,833
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............. 245,529,442 249,280,123
21 Total liabilities (Part X, line 26)............. 55,654,298 59,031,727
22 Net assets or fund balances. Subtract line 21 from line 20..... 189,875,144 190,248,396
Part II
Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Sign Here
JumboBullet
Signature of officer Date
JumboBullet
Type or print name and title.
Paid preparer use only
Print/type preparer's name
 
Preparer's signature
Date
PTIN
Firm's name Right pointing arrowhead image

Firm's EIN Right pointing arrowhead image
Firm's address Right pointing arrowhead image



Phone no.
May the IRS discuss this return with the preparer shown above? See instructions .........bullet
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y
Form 990 (2011)
Form 990 (2011)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response to any question in this Part III .........
1
Briefly describe the organization’s mission: North central college is a community of learners dedicated to preparing students to be informed, involved, principled and productive citizens and leaders over their lifetime. In 2011-2012, the college served 3,368 full and part-time students, 30 states and U.S. territories and 23 foreign countries are represented in our student population. Over 1,400 students reside on the college campus each term. North Central College conferred 582 undergraduate degrees and 113 master's degrees in the 2011-2012 academic year. The college also served approximately 3,800 people in non-credit educational and community programs.
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? ....................
If “Yes,” describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program services? ..........................
If “Yes,” describe these changes on Schedule O.
4
Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations and section 4947(a)(1) trusts are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $ 62,841,166 including grants of $ 32,365,210 ) (Revenue $ 77,999,569 )
Instruction, Academic Support & Financial Aid: Faculty instruction for degree candidates, community education, and master's degree programs are provided. 90% of the full-time teaching faculty members have a doctorate or terminal degree. Dean of faculty, continuing education, library services, disabilities support services, tutoring assistance, and academic computing are included in academic support. Oesterle library offers 32 million records in 71 college and university databases in addition to the 149,000 volumes in its collection. Students have on-line access to their grades, schedule, and communicate with faculty and classmates via blackboard. Faculty serve as student advisors.
4b (Code:   ) (Expenses $ 12,238,764 including grants of $ 0 ) (Revenue $ 0 )
Student Services and Athletics: Offices servicing the student body include admissions, international recruiting, financial aid administration expense, registrar, dean of students, ministry and service, community services, career development, the wellness center, student involvement, orientation, multicultural affairs, and athletic activities. Community service projects such as Habitat for Humanity are common pursuits during the December interim term and spring break. NCC athletics maintains 22 NCAA Division III programs. The college is compliant with Title IX standards for gender equity and has won 29 team national championships.
4c (Code:   ) (Expenses $ 12,177,954 including grants of $ 0 ) (Revenue $ 13,005,292 )
Auxiliary Services: Auxiliary Services include residence life, student housing, and food services. Facilities include Kaufman a full service dining hall, The Cage a quick service cook-to-order facility, and The Boilerhouse Cafe. The bookstore, college union, commuter student gathering room, and other meeting places are also included in auxiliary service. More than 1,400 of the full-time students choose to live in college owned or leased properties. All resident students are required to purchase a meal plan.
4d Other program services (Describe in Schedule O.)
(Expenses $ 0 including grants of $ 0 ) (Revenue $ 0 )
4e Total program service expensesMediumBullet$ 87,257,884
Form 990 (2011)
Form 990 (2011)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If “Yes,” complete Schedule AClick to see attachment.....................
1
Yes
 
2
Is the organization required to complete Schedule B, Schedule of Contributors? Click to see attachment........
2
Yes
 
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If “Yes,” complete Schedule C, Part I..........
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities? If “Yes,” complete Schedule C,
Part II.........................
4
 
No
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19? If “Yes,” complete Schedule C, Part III........................
5
 
No
6
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If “Yes,” complete Schedule D, Part IClick to see attachment....................
6
 
No
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas or historic structures? If “Yes,” complete Schedule D, Part IIClick to see attachment...
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If “Yes,” complete Schedule D, Part III Click to see attachment....................
8
Yes
 
9
Did the organization report an amount in Part X, line 21; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If “Yes,”
complete Schedule D, Part IVClick to see attachment...................
9
 
No
10
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments? If “Yes,” complete Schedule D, Part VClick to see attachment
10
Yes
 
11
If the organization’s answer to any of the following questions is ‘Yes,’ then complete Schedule D, Parts VI, VII, VIII, IX, or X as applicable:
a
Did the organization report an amount for land, buildings, and equipment in Part X, line10? If “Yes,” complete Schedule D, Part VI.Click to see attachment
11a
Yes
 
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VII.Click to see attachment
11b
 
No
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VIII.Click to see attachment
11c
 
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part IX.Click to see attachment
11d
 
No
e
Did the organization report an amount for other liabilities in Part X, line 25? If “Yes,” complete Schedule D, Part X.Click to see attachment
11e
Yes
 
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If “Yes,” complete Schedule D, Part X.Click to see attachment
11f
Yes
 
12a
Did the organization obtain separate, independent audited financial statements for the tax year?
If “Yes,” complete Schedule D, Parts XI, XII, and XIII Click to see attachment
12a
Yes
 
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If “Yes,” and if the organization answered ‘No’ to line 12a, then completing Schedule D, Parts XI, XII, and XIII is optional Click to see attachment
12b
 
No
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If “Yes,” complete Schedule EClick to see attachment
13
Yes
 
14a
Did the organization maintain an office, employees, or agents outside of the United States?....
14a
 
No
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States or aggregate foreign investments valued at $100,000 or more? If “Yes,” complete Schedule F, Part I.........
14b
 
No
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or assistance to any organization or entity located outside the U.S.? If “Yes,” complete Schedule F, Part II..
15
 
No
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or assistance to individuals located outside the U.S.? If “Yes,” complete Schedule F, Part III..
16
 
No
17
Did the organization report a total of more than $15,000, of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If “Yes,” complete Schedule G, Part I
17
 
No
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If “Yes,” complete Schedule G, Part II..........
18
 
No
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If “Yes,” complete Schedule G, Part III...................
19
 
No
20a
Did the organization operate one or more hospitals? If “Yes,” complete Schedule H.....
20a
 
No
b
If “Yes” to line 20a, did the organization attach a copy of its audited financial statement to this return? Note. All Form 990 filers that operated one or more hospitals must attach audited financial statements.
20b
 
 
Form 990 (2011)
Form 990 (2011)
Page 4
Part IV
Checklist of Required Schedules (continued)
21
Did the organization report more than $5,000 of grants and other assistance to any government or organization in the United States on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II.. Click to see attachment
21
 
No
22
Did the organization report more than $5,000 of grants and other assistance to individuals in the United States on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III..... Click to see attachment
22
Yes
 
23
Did the organization answer “Yes” to Part VII, Section A, questions 3, 4, or 5, about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If “Yes,” complete Schedule J................ Click to see attachment
23
Yes
 
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer questions 24b–24d and complete Schedule K. If “No,” go to line 25................ Click to see attachment
24a
Yes
 
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
No
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds?......................
24c
 
No
d
Did the organization act as an “on behalf of” issuer for bonds outstanding at any time during the year?...
24d
 
No
25a
Section 501(c)(3) and 501(c)(4) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If “Yes,” complete Schedule L, Part I...... Click to see attachment
25a
 
No
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If “Yes,” complete Schedule L, Part I................ Click to see attachment
25b
 
No
26
Was a loan to or by a current or former officer, director, trustee, key employee, highly compensated employee, or disqualified person outstanding as of the end of the organization’s tax year? If “Yes,” complete Schedule L,
Part II......................... Click to see attachment
26
 
No
27
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons? If “Yes,” complete Schedule L, Part III......... Click to see attachment
27
Yes
 
28
Was the organization a party to a business transaction with one of the following parties? (see Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, or key employee? If “Yes,” complete Schedule L, Part IV ......................... Click to see attachment
28a
 
No
b
A family member of a current or former officer, director, trustee, or key employee? If “Yes,”
complete Schedule L, Part IV................... Click to see attachment
28b
Yes
 
c
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or owner? If “Yes,” complete Schedule L, Part IV.. Click to see attachment
28c
Yes
 
29
Did the organization receive more than $25,000 in non-cash contributions? If “Yes,” complete Schedule MClick to see attachment
29
Yes
 
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If “Yes,” complete Schedule M............ Click to see attachment
30
 
No
31
Did the organization liquidate, terminate, or dissolve and cease operations? If “Yes,” complete Schedule N,
Part I...........................
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If “Yes,” complete Schedule N, Part II.......................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If “Yes,” complete Schedule R, Part I........
33
 
No
34
Was the organization related to any tax-exempt or taxable entity? If “Yes,” complete Schedule R, Parts II, III, IV, and V, line 1.....................
34
 
No
35a
Did the organization have a controlled entity within the meaning of section 512(b)(13)?
35a
 
No
b
If ‘Yes’ to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If “Yes,” complete Schedule R, Part V, line 2...
35b
 
No
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If “Yes,” complete Schedule R, Part V, line 2...........
36
 
No
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If “Yes,” complete Schedule R, Part VI
37
 
No
38
Did the organization complete Schedule O and provide explanations in Schedule O for Part VI, lines 11 and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Form 990 (2011)
Form 990 (2011)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response to any question in this Part V .........
Yes
No
1a
Enter the number reported in Box 3 of Form 1096. Enter -0- if not applicable. .......
1a
4,027
b
Enter the number of Forms W-2G included in line 1a. Enter -0- if not applicable.
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
Yes
 
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and Tax Statements filed for the calendar year ending with or within the year covered by this return .....................
2a
1,887
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?

Note. If the sum of lines 1a and 2a is greater than 250, you may be required to e-file. (see instructions)
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?.............................
3a
Yes
 
b
If “Yes,” has it filed a Form 990-T for this year? If “No,” provide an explanation in Schedule O.....
3b
Yes
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account or securities account)?.......................
4a
 
No
b
If "Yes," enter the name of the foreign country: MediumBullet
See instructions for filing requirements for Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts.
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If “Yes” to line 5a or 5b, did the organization file Form 8886-T? ........
5c
 
 
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible?..........
6a
 
No
b
If “Yes,” did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?........................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?....................
7a
Yes
 
b
If “Yes,” did the organization notify the donor of the value of the goods or services provided?.....
7b
Yes
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?...........................
7c
 
No
d
If “Yes,” indicate the number of Forms 8282 filed during the year ....
7d
 
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?..........................
7e
 
No
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?..
7f
 
No
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?...................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?...............
7h
 
 
8
Sponsoring organizations maintaining donor advised funds and section 509(a)(3) supporting organizations. Did the supporting organization, or a donor advised fund maintained by a sponsoring organization, have excess business holdings at any time during the year?................
8
 
 
9
Sponsoring organizations maintaining donor advised funds.
a
Did the organization make any taxable distributions under section 4966?.........
9a
 
 
b
Did the organization make a distribution to a donor, donor advisor, or related person?......
9b
 
 
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources (Do not net amounts due or paid to other sources against amounts due or received from them) ........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If “Yes,” enter the amount of tax-exempt interest received or accrued during the year.
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state?
Note. All 501(c)(29) organizations must list in Schedule O each state in which they are licensed to issue qualified health plans, the amount of reserves required by each state, and the amount of reserves the organization allocated to each state.
13a
 
 
b
Enter the aggregate amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans.
13b
 
c
Enter the aggregate amount of reserves on hand.
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
 
b
If "Yes," has it filed a Form 720 to report these payments? If “No,” provide an explanation in Schedule O..
14b
 
 
Form 990 (2011)
Form 990 (2011)
Page 6
Part VI
Governance, Management, and Disclosure For each “Yes” response to lines 2 through 7b below, and for a “No” response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response to any question in this Part VI .........
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year
If the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.
1a
36
b
Enter the number of voting members included in line 1a, above, who are independent .................
1b
29
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
Yes
 
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? .
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed?
4
 
No
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Did the organization have members or stockholders? ................
6
 
No
7a
Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? .................
7a
 
No
b
Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ............
7b
 
No
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .........................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ..........
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If “Yes,” provide the names and addresses in Schedule O .....
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal
Revenue Code.)
Yes
No
10a
Did the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If “Yes,” did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes? ....
10b
 
 
11a
Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form?
11a
Yes
 
b
Describe in Schedule O the process, if any, used by the organization to review the Form 990. .....
12a
Did the organization have a written conflict of interest policy? If “No,” go to line 13.......
12a
Yes
 
b
Were officers, directors or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ........................
12b
Yes
 
c
Did the organization regularly and consistently monitor and enforce compliance with the policy? If “Yes,” describe in Schedule O how this was done ....................
12c
Yes
 
13
Did the organization have a written whistleblower policy? ...............
13
Yes
 
14
Did the organization have a written document retention and destruction policy? .........
14
Yes
 
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
Yes
 
If "Yes," to line 15a or 15b, describe the process in Schedule O (see instructions).
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
 
No
b
If “Yes,” did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
 
 
Section C. Disclosure
17
List the States with which a copy of this Form 990 is required to be filedMediumBullet
IL
18
Section 6104 requires an organization to make its Form 1023 (or 1024 if applicable), 990, and 990-T (501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how), the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.
20
State the name, physical address, and telephone number of the person who possesses the books and records of the organization: MediumBullet
PAUL H LOSCHEIDER
30 N BRAINARD STREET
Naperville,IL60540
(630) 637-5678
Form 990 (2011)
Form 990 (2011)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response to any question in this Part VII .........
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation, and current key employees. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the
organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

List persons in the following order: individual trustees or directors; institutional trustees; officers; key employees; highest
compensated employees; and former such persons.
Check this box if neither the organization nor any related organizations compensated any current or former officer, director, or trustee.
(A)
Name and Title 		(B)
Average hours per week (describe hours for related organizations in Schedule O) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; Officer; Key Employee; Highest compensated employee; Former;
(1) Ms Esther T Benjamin
Trustee
 1.0 X           0 0 0
(2) Mr Steven Bergerson
Trustee
 1.0 X           0 0 0
(3) Ms Erin Bishop
Trustee
 1.0 X           0 0 0
(4) Mr Matthew Brill
Trustee
 1.0 X           0 0 0
(5) Mr Kevin M Gensler
Trustee
 1.0 X           0 0 0
(6) Dr John M Giannini
Trustee
 1.0 X           0 0 0
(7) Mr Thomas Gruenwald
Trustee
 1.0 X           0 0 0
(8) Mrs Nancy Hanson
Trustee
 1.0 X           0 0 0
(9) Mr Steven H Hoeft
Trustee, Chairman of the Board
 1.0 X           0 0 0
(10) Dr Holly Humphrey
Trustee, Vice Chair, Acad Aff
 1.0 X           0 0 0
(11) Mr Peter P Jones
Trustee
 1.0 X           0 0 0
(12) Bishop Hee-Soo Jung
Trustee
 1.0 X           0 0 0
(13) Mr David W Kelsch
Trustee, Vice Chair, Bus Aff.
 1.0 X           0 0 0
(14) Mrs Michele kenaga
Trustee
 1.0 X           0 0 0
(15) Mr ray kinney
Trustee
 1.0 X           0 0 0
(16) mrs susan koranda
Trustee
 1.0 X           0 0 0
(17) BISHOP LINDA LEE
Trustee
 1.0 X           0 0 0
Form 990 (2011)
Form 990 (2011)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and Title 		(B)
Average hours per week (describe hours for related organizations in Schedule O) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; Officer; Key Employee; Highest compensated employee; Former;
(18) MR RONALD LEUPTOW
Trustee
 1.0 X           0 0 0
(19) MR JOSEPH MALLON
Trustee, chair audit committee
 1.0 X           0 0 0
(20) MR JAMES A MCDERMET
Trustee
 1.0 X           0 0 0
(21) DR HOWARD MUELLER
Trustee
 1.0 X           0 0 0
(22) MS HOLLY I MYERS
Trustee, Board Secretary
 1.0 X           0 0 0
(23) MR MICHAEL R NASET
Trustee
 1.0 X           0 0 0
(24) MR JOHN L NOVAK
Trustee
 1.0 X           0 0 0
(25) MR JEFF OESTERLE
Trustee, Vice Chair, Inst Adv.
 1.0 X           0 0 0
(26) MR STEVEN RUBIN
Trustee
 1.0 X           0 0 0
(27) MR STEPHEN T SELLERS
Trustee
 1.0 X           0 0 0
(28) MR DONALD SHARP
Trustee
 1.0 X           0 0 0
(29) DR JEFFREY K SWALLOW
Trustee
 1.0 X           0 0 0
(30) MR SCOTT WEHRLI
Trustee
 1.0 X           0 0 0
(31) DR HERMAN B WHITE JR
Trustee, Vice Chair, Stdt Aff.
 1.0 X           5,000 0 0
(32) MR ROBERT A WISLOW
Trustee
 1.0 X           0 0 0
(33) Mr Lee Woolley
Trustee
 1.0 X           0 0 0
(34) Miss Maria E Wynne
Trustee
 1.0 X           0 0 0
(35) Mrs Beth Zimmerman
Trustee
 1.0 X           0 0 0
(36) Dr Harold R Wilde
President
 60.0 X   X       332,684 0 170,276
(37) Mr Paul Loscheider
VP for Business Affairs
 60.0     X       190,434 0 52,937
(38) Ms Laurie Hamen
VP for enrollment management
 60.0     X       199,120 0 34,050
(39) Dr R Devadoss Pandian
VP for Academic Affairs
 60.0     X       198,360 0 54,335
(40) Mr Rick E Spencer
Vp institutional advancement
 60.0     X       193,249 0 52,599
(41) Mr Martin Sauer
Dean of Admissions/Fin Aid
 50.0         X   146,614 0 47,443
(42) DR RICHARD WILDERS
PROF OF MATH/ASSOCIATE DEAN
 50.0         X   150,709 0 26,074
(43) DR FRANCINE NAVAKAS
PROF OF ENGLISH/ASSOCIATE DEAN
 50.0         X   140,935 0 23,105
(44) DR MARTI BOGART
PROF OF ECON/ASSOCIATE DEAN
 50.0         X   124,894 0 53,616
(45) DR PETER BARGER
DEAN OF GRADUATE & CONT EDUC
 50.0         X   124,317 0 31,188
1b Sub-Total................MediumBullet
c Total from continuation sheets to Part VII, Section A....MediumBullet
d Total (add lines 1b and 1c)............MediumBullet 1,806,316 0 545,623
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organizationMediumBullet66
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If “Yes,” complete Schedule J for such individual .............
3
 
No
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If “Yes,” complete Schedule J for such individual...........................
4
Yes
 
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If “Yes,” complete Schedule J for such person .....
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization’s tax year.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
The Millard Group
94346 Eagle Way
CHICAGO,IL60678 		Cleaning Services 789,659
L J Morse Construction Company
128 South Broadway Ave
AURORA,IL60505 		Construction 561,144
Wood Dale Electrical Construction I
65 N Garden Ave
ROSELLE,IL60172 		Construction 441,350
Premier Mechanical Inc
111 S Fairbank St
ADDISON,IL60101 		Construction 407,604
M M Rental Inc
493 Mission St
CAROL STREAM,IL60188 		Equipment Rental 318,707
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization MediumBullet32
Form 990 (2011)
Form 990 (2011)
Page 9
Part VIII
Statement of Revenue
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512, 513, or 514
Contributions, Gifts, Grants and Other Similar Amounts 1a Federated campaigns..1a  
b Membership dues....1b  
c Fundraising events....1c  
d Related organizations...1d  
e Government grants (contributions)1e 1,118,425
f All other contributions, gifts, grants, and
similar amounts not included above1f 		9,747,041
g Noncash contributions included in lines 1a-1f:$ 483,475
h Total. Add lines 1a-1f.......MediumBullet 10,865,466
Program Service Revenue Business Code
2a TUITION (GROSS OF FINANCIAL AID) 812,900 76,779,429 76,779,429    
b STUDENT HOUSING AND AUXILARY ENTERPRISES 812,900 13,005,292 13,005,292    
c COMMUNITY EDUCATION 812,900 691,188 405,376 285,812  
d STUDENT FEES 900,099 463,247 463,247    
e OTHER ACADEMIC AND ADMIN REVENUE 900,099 351,517 351,517    
f All other program service revenue .        
g Total. Add lines 2a–2f........MediumBullet 91,290,673
Other Revenue 3 Investment income (including dividends, interest
and other similar amounts).....MediumBullet 3,215,865   143,387 3,072,478
4 Income from investment of tax-exempt bond proceeds..MediumBullet 0      
5 Royalties............MediumBullet 0      
(i) Real (ii) Personal
6a Gross rents 507,545  
b Less: rental expenses 78,197  
c Rental income or (loss) 429,348  
d Net rental income or (loss).......MediumBullet 429,348     429,348
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory 23,068,780  
b Less: cost or other basis and sales expenses 21,610,812 -608,807
c Gain or (loss) 1,457,968 608,807
d Net gain or (loss)..........MediumBullet 849,161     849,161
8a Gross income from fundraising events (not including
$  
of contributions reported on line 1c). See Part IV, line 18 ...
a  
b Less: direct expenses ...b  
c Net income or (loss) from fundraising events..MediumBullet 0    
9a Gross income from gaming activities.
See Part IV, line 19 ...
a  
b Less: direct expenses ...b  
c Net income or (loss) from gaming activities...MediumBullet 0      
10a Gross sales of inventory, less
returns and allowances .
a  
b Less: cost of goods sold ..b  
c Net income or (loss) from sales of inventory..MediumBullet 0      
Miscellaneous Revenue Business Code
11a THEATRE GATE RECEIPTS 711,130 1,060,614     1,060,614
b PARKING FEES/FINES 812,930 172,161     172,161
c ATHLETIC GATE RECEIPTS 812,900 95,849     95,849
d All other revenue .... 28,201     28,201
e Total. Add lines 11a–11d ......MediumBullet 1,356,825
12 Total revenue. See Instructions....MediumBullet 108,007,338 91,004,861 429,199 5,707,812
Form 990 (2011)
Form 990 (2011)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A) but are not required to complete columns (B), (C), and (D).
Check if Schedule O contains a response to any question in this Part IX. .........
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII. 		(A)
Total expenses 		(B)
Program service expenses 		(C)
Management and general expenses 		(D)
Fundraising expenses
1 Grants and other assistance to governments and organizations in the United States. See Part IV, line 21 0  
2 Grants and other assistance to individuals in the United States. See Part IV, line 22 32,365,210 32,365,210
3 Grants and other assistance to governments, organizations, and individuals outside the United States. See Part IV, lines 15 and 16 0  
4 Benefits paid to or for members 0  
5 Compensation of current officers, directors, trustees, and key employees .... 1,448,187 931,673 228,630 287,884
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .... 55,333 55,333    
7 Other salaries and wages 25,334,291 22,446,921 2,095,698 791,672
8 Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) .... 1,780,182 1,577,170 90,894 112,118
9 Other employee benefits ....... 3,918,353 2,541,977 1,234,893 141,483
10 Payroll taxes ........... 1,792,525 1,575,939 203,239 13,347
11 Fees for services (non-employees):        
a Management ...... 0      
b Legal ......... 154,512 1,970 152,542  
c Accounting ........... 206,806 2,000 204,806  
d Lobbying ........... 0      
e Professional fundraising. See Part IV, line 17.. 11,650 11,650
f Investment management fees ...... 554,479 110,896 443,583  
g Other .......... 2,657,778 2,216,787 351,222 89,769
12 Advertising and promotion .... 2,477,899 1,211,557 782,403 483,939
13 Office expenses ....... 1,964,777 1,557,476 324,846 82,455
14 Information technology ...... 729,969 723,500 4,397 2,072
15 Royalties .. 26,117 26,117    
16 Occupancy ........... 7,652,400 7,289,457 362,654 289
17 Travel ............ 1,696,937 1,602,622 49,387 44,928
18 Payments of travel or entertainment expenses for any federal, state, or local public officials ...... 0      
19 Conferences, conventions, and meetings .... 156,024 140,066 11,925 4,033
20 Interest ........... 951,076 911,207 39,869  
21 Payments to affiliates ....... 0      
22 Depreciation, depletion, and amortization ..... 5,274,369 5,053,267 221,102  
23 Insurance .............. 185,046 177,264 7,782  
24 Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24f. If line 24f amount exceeds 10% of line 25, column (A) amount, list line 24f expenses on Schedule O.)
a FOOD SERVICE 2,926,400 2,926,400    
b HOSPITALITY 1,256,578 169,616 1,005,199 81,763
c EQUIPMENT RENTAL 1,169,629 925,930 32,387 211,312
d DUES/SUBSCRIPTIONS 606,730 520,193 51,761 34,776
e
f All other expenses 208,248 197,336 10,912  
25 Total functional expenses. Add lines 1 through 24f 97,561,505 87,257,884 7,910,131 2,393,490
26 Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here MediumBullet if following SOP 98-2 (ASC 958-720).        
Form 990 (2011)
Form 990 (2011)
Page 11
Part X Balance Sheet
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash—non-interest-bearing .......... 0 1 0
2 Savings and temporary cash investments ....... 8,371,845 2 13,022,293
3 Pledges and grants receivable, net ......... 2,011,766 3 4,593,771
4 Accounts receivable, net ......... 4,252,705 4 4,080,325
5 Receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of
Schedule L .......... 0 5 0
6 Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B). Complete Part II of
Schedule L .......... 0 6 0
7 Notes and loans receivable, net ............. 3,925,665 7 4,064,165
8 Inventories for sale or use .............. 0 8 0
9 Prepaid expenses and deferred charges ............ 1,498,696 9 1,683,240
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 176,381,894
b Less: accumulated depreciation. ..... 10b 48,091,856 128,594,113 10c 128,290,038
11 Investments—publicly traded securities .......... 86,378,282 11 84,074,235
12 Investments—other securities. See Part IV, line 11 ...... 8,676,181 12 8,473,267
13 Investments—program-related. See Part IV, line 11 .. 0 13 0
14 Intangible assets ......... 0 14 0
15 Other assets. See Part IV, line 11 ........... 1,820,189 15 998,789
16 Total assets. Add lines 1 through 15 (must equal line 34)... 245,529,442 16 249,280,123
Liabilities 17 Accounts payable and accrued expenses . 6,382,192 17 7,014,900
18 Grants payable .......... 0 18 0
19 Deferred revenue .......... 1,217,649 19 1,017,059
20 Tax-exempt bond liabilities .......... 41,500,000 20 41,500,000
21 Escrow or custodial account liability. Complete Part IV of Schedule D.. 0 21 0
22 Payables to current and former officers, directors, trustees, key
employees, highest compensated employees, and disqualified
persons. Complete Part II of Schedule L.......... 0 22 0
23 Secured mortgages and notes payable to unrelated third parties .. 0 23 0
24 Unsecured notes and loans payable to unrelated third parties .... 0 24 0
25 Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D..... 6,554,457 25 9,499,768
26 Total liabilities. Add lines 17 through 25..... 55,654,298 26 59,031,727
Net Assets or Fund Balance Organizations that follow SFAS 117, check here MediumBullet and complete lines 27 through 29, and lines 33 and 34.
27 Unrestricted net assets ..... 132,702,813 27 129,358,387
28 Temporarily restricted net assets ..... 16,997,790 28 19,891,554
29 Permanently restricted net assets ..... 40,174,541 29 40,998,455
Organizations that do not follow SFAS 117, check here MediumBullet and complete lines 30 through 34.
30 Capital stock or trust principal, or current funds .....   30  
31 Paid-in or capital surplus, or land, building or equipment fund .....   31  
32 Retained earnings, endowment, accumulated income, or other funds   32  
33 Total net assets or fund balances ..... 189,875,144 33 190,248,396
34 Total liabilities and net assets/fund balances ..... 245,529,442 34 249,280,123
Form 990 (2011)
Form 990 (2011)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response to any question in this Part XI .........
1
Total revenue (must equal Part VIII, column (A), line 12) ...
1
108,007,338
2
Total expenses (must equal Part IX, column (A), line 25) ....
2
97,561,505
3
Revenue less expenses. Subtract line 2 from line 1 ...
3
10,445,833
4
Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) ..
4
189,875,144
5
Other changes in net assets or fund balances (explain in Schedule O) ...
5
-10,072,581
6
Net assets or fund balances at end of year. Combine lines 3, 4, and 5 (must equal Part X, line 33, column (B)) ....
6
190,248,396
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response to any question in this Part XII .........
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain in
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?....
2a
 
No
b
Were the organization’s financial statements audited by an independent accountant?........
2b
Yes
 
c
If “Yes,” to 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant? If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O. ...........................
2c
Yes
 
d
If “Yes” to line 2a or 2b, check a box below to indicate whether the financial statements for the year were issued on a separate basis, consolidated basis, or both:
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133? ................
3a
Yes
 
b
If “Yes,” did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits. ..
3b
Yes
 
Form 990 (2011)
Additional Data


Software ID:  
Software Version:  
Form 990, Special Condition Description:
Special Condition Description
SCHEDULE A
(Form 990 or 990EZ)

Department of the Treasury
Internal Revenue Service
Public Charity Status and Public Support

Complete if the organization is a section 501(c)(3) organization or a section
4947(a)(1) nonexempt charitable trust.
right arrow Attach to Form 990 or Form 990-EZ. right arrow See separate instructions.
OMB No. 1545-0047
2011
Open to Public
Inspection
Name of the organization
North Central College
 
Employer identification number

36-2169157
Part I
Reason for Public Charity Status (All organizations must complete this part.) See instructions
The organization is not a private foundation because it is: (For lines 1 through 11, check only one box.)
1
2
3
4
5
section 170(b)(1)(A)(iv). (Complete Part II.)
6
7
8
9
receipts from activities related to its exempt functions—subject to certain exceptions, and (2) no more than 331/3% of
its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses
acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.)
10
11
e
f
g
(i) a person who directly or indirectly controls, either alone or together with persons described in (ii)
Yes
No
and (iii) below, the governing body of the the supported organization? ................
11g(i)
 
 
(ii) a family member of a person described in (i) above? ......................
11g(ii)
 
 
(iii) a 35% controlled entity of a person described in (i) or (ii) above? ................
11g(iii)
 
 
h
(i)
Name of supported organization 		(ii)
EIN 		(iii)
Type of organization (described on lines 1- 9 above or IRC section (see instructions)) 		(iv)
Is the organization in col. (i) listed in your governing document? 		(v)
Did you notify the organization in col. (i) of your support? 		(vi)
Is the organization in col. (i) organized in the U.S.? 		(vii)
Amount of support?
Yes No Yes No Yes No
Total                  

For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 11285F
Schedule A (Form 990 or 990-EZ) 2011
Schedule A (Form 990 or 990-EZ) 2011
Page 2
Part II
Support Schedule for Organizations Described in IRC 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization fails to qualify under the tests listed below, please complete Part III.)
Section A. Public Support
Calendar year(or fiscal year beginning in) (a) 2007 (b) 2008 (c) 2009 (d) 2010 (e) 2011 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") ....            
2 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf.......            
3 The value of services or facilities furnished by a governmental unit to the organization without charge..            
4 Total. Add lines 1 through 3..            
5 The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f)..            
6 Public Support. Subtract line 5 from line 4.            
Section B. Total Support
Calendar year(or fiscal year beginning in) (a) 2007 (b) 2008 (c) 2009 (d) 2010 (e) 2011 (f) Total
7 Amounts from line 4..            
8 Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..            
9 Net income from unrelated business activities, whether or not the business is regularly carried on..            
10 Other income. (Explain in Part IV.) Do not include gain or loss from the sale of capital assets..            
11 Total support (Add lines 7 through 10).            
12
12
 
13
Section C. Computation of Public Support Percentage
14
14
 
15
15
 
16a
b
17a
b
18
Schedule A (Form 990 or 990-EZ) 2011
Schedule A (Form 990 or 990-EZ) 2011
Page 3
Part III
Support Schedule for Organizations Described in IRC 509(a)(2)
(Complete only if you checked the box on line 9 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)
Section A. Public Support
Calendar year(or fiscal year beginning in) (a) 2007 (b) 2008 (c) 2009 (d) 2010 (e) 2011 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .            
2 Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose......            
3 Gross receipts from activities that are not an unrelated trade or business under section 513..            
4 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...            
5 The value of services or facilities furnished by a governmental unit to the organization without charge..            
6 Total. Add lines 1 through 5.            
7a Amounts included on lines 1, 2, and 3 received from disqualified persons...            
b Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.            
c Add lines 7a and 7b..            
8 Public Support (Subtract line 7c from line 6.)            
Section B. Total Support
Calendar year (or fiscal year beginning in) (a) 2007 (b) 2008 (c) 2009 (d) 2010 (e) 2011 (f) Total
9 Amounts from line 6...            
10a Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..            
b Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.            
c Add lines 10a and 10b.            
11 Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on.            
12 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part IV.)            
13 Total support (Add lines 9, 10c, 11 and 12.).            
14
Section C. Computation of Public Support Percentage
15
15
 
16
16
 
Section D. Computation of Investment Income Percentage
17
17
 
18
18
 
19a
b
20
Schedule A (Form 990 or 990-EZ) 2011
Schedule A (Form 990 or 990-EZ) 2011
Page 4
Part IV
Supplemental Information. Supplemental Information. Complete this part to provide the explanation required by Part II, line 10; Part II, line 17a or 17b; or Part III, line 12. Also complete this part for any additional information. (See instructions).
Facts And Circumstances Test
 
Explanation
 
 
 
 
Schedule A (Form 990 or 990-EZ) 2011

Additional Data


Software ID:  
Software Version:  
Schedule B
(Form 990, 990-EZ,
or 990-PF)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors
Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
OMB No. 1545-0047
2011
Name of organization
North Central College
 
Employer identification number

36-2169157
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ





Form 990-PF




Check if your organization is covered by the General Rule or a Special Rule.  
Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
Special Rules
......................... Arrow Bullet   $    
Caution. An Organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
Form 990-EZ or on Part I, line 2, of its Form 990-PF, to certify that it does not meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2011)

Page 2
Schedule B (Form 990, 990-EZ, or 990-PF) (2011)
Name of organization
North Central College
  		Employer identification number

36-2169157
Part I
Contributors (see Instructions). Use duplicate copies of Part I if additional space is needed.
     
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
RESTRICTED
RESTRICTED
 

     
RESTRICTED
RESTRICTED  
RESTRICTED, RESTRICTED   RESTRICTED

$RESTRICTED




(Complete Part II if there is a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is a noncash contribution.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2011)

Page 3
Schedule B (Form 990, 990-EZ, or 990-PF) (2011)
Name of organization
North Central College
  		Employer identification number

36-2169157
Part II
Noncash Property (see Instructions). Use duplicate copies of Part II if additional space is needed.
     
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions). 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions). 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions). 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions). 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions). 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions). 		(d)
Date received
 
$    
Schedule B (Form 990, 990-EZ, or 990-PF) (2011)

Page 4
Schedule B (Form 990, 990-EZ, or 990-PF) (2011)
Name of organization
North Central College
  		Employer identification number

36-2169157
Part III
Exclusively religious, charitable, etc., individual contributions to section 501(c)(7), (8), or (10) organizations
that total more than $1,000 for the year. Complete columns (a) through (e) and the following line entry.
For organizations completing Part III, enter the total of exclusively religious, charitable, etc.,
contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet $  
Use duplicate copies of Part III if additional space is needed
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
Schedule B (Form 990, 990-EZ, or 990-PF) (2011)

Additional Data


Software ID:  
Software Version:  
SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
SchDMd Bullet Complete if the organization answered "Yes," to Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b
SchDMd Bullet Attach to Form 990. SchDMd Bullet See separate instructions.
OMB No. 1545-0047
2011
Open to Public Inspection
Name of the organization
North Central College
 
Employer identification number

36-2169157
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" to Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .......    
2 Aggregate contributions to (during year) ...    
3 Aggregate grants from (during year) ...    
4 Aggregate value at end of year .......    
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised
funds are the organization's property, subject to the organization's exclusive legal control? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be
used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................
Part II
Conservation Easements. Complete if the organization answered "Yes" to Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ....................... 2a  
b Total acreage restricted by conservation easements .................. 2b  
c Number of conservation easements on a certified historic structure included in (a) ..... 2c  
d Number of conservation easements included in (c) acquired after 8/17/06, and not on a historic structure listed in the National Register .................... 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the tax year SchDMd Bullet  
4
Number of states where property subject to conservation easement is located SchDMd Bullet  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and
enforcement of the conservation easements it holds? .............................
6
Staff and volunteer hours devoted to monitoring, inspecting and enforcing conservation easements during the year SchDMd Bullet  
7
Amount of expenses incurred in monitoring, inspecting, and enforcing conservation easements during the year
SchDMd Bullet $  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section
170(h)(4)(B)(i) and 170(h)(4)(B)(ii)? ....................................
9
In Part XIV, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" to Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under SFAS 116 (ASC 958), not to report in its revenue statement and balance sheet works of
art, historical treasures, or other similar assets held for public exhibition, education or research in furtherance of public service,
provide, in Part XIV, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under SFAS 116 (ASC 958), to report in its revenue statement and balance sheet works of art,
historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service,
provide the following amounts relating to these items:
(i)
Revenues included in Form 990, Part VIII, line 1 ........................SchDMd Bullet $  
(ii)
Assets included in Form 990, Part X ..............................SchDMd Bullet $  
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under SFAS 116 (ASC 958), relating to these items:
a
Revenues included in Form 990, Part VIII, line 1 ..........................SchDMd Bullet $  
b
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
For Privacy Act and Paperwork Reduction Act Notice, see the Intructions for Form 990
Cat. No. 52283D
Schedule D (Form 990) 2011

Schedule D (Form 990) 2011
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s accession and other records, check any of the following that are a significant use of its collection
items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIV.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?........
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" to Form 990,
Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b
If "Yes," explain the arrangement in Part XIV and complete the following table:
Amount
c Beginning balance ................................. 1c  
d Additions during the year .............................. 1d  
e Distributions during the year ............................. 1e  
f Ending balance ................................... 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21? .....................
b
If “Yes,” explain the arrangement in Part XIV.
Part V
Endowment Funds. Complete if the organization answered "Yes" to Form 990, Part IV, line 10.
(a)Current Year (b)Prior Year (c)Two Years Back (d)Three Years Back (e)Four Years Back
1a Beginning of year balance .... 94,092,598 78,969,002 68,798,252 79,440,231
b Contributions ........ 2,296,389 808,468 2,897,284 4,162,125
c Net investment earnings, gains, and losses ... -2,014,713 17,217,140 10,133,552 -14,748,673
d Grants or scholarships ..... 868,206 794,674    
e Other expenditures for facilities
and programs ........ 		1,987,623 1,877,213 2,860,086 55,431
f Administrative expenses .... 243,513 230,125    
g End of year balance ...... 91,274,932 94,092,598 78,969,002 68,798,252
2
Provide the estimated percentage of the year end balance (line 1g) held as:
a
Board designated or quasi-endowment SchDMd Bullet46.000 %
b
Permanent endowment SchDMd Bullet43.000 %
c
Temporarily restricted endowment SchDMd Bullet11.000 %
The percentages in lines 2a, 2b, and 2c should equal 100%.
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) unrelated organizations ........................
3a(i)
Yes
 
(ii) related organizations ........................
3a(ii)
 
No
b
If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
Describe in Part XIV the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment. See Form 990, Part X, line 10.
Description of property (a) Cost or other basis (investment) (b)Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land .................   6,417,018 6,417,018
b Buildings ................   150,876,186 35,336,992 115,539,194
c Leasehold improvements ............        
d Equipment ................   18,806,320 12,754,864 6,051,456
e Other .................   282,370   282,370
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).).......SchDMdBullet 128,290,038
Schedule D (Form 990) 2011

Schedule D (Form 990) 2011
Page 3
Part VII
Investments—Other Securities. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)		 (b)Book value (c) Method of valuation:
Cost or end-of-year market value
(1)Financial derivatives    
(2)Closely-held equity interests    
Other








Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)Small Bullet  
Part VIII
Investments—Program Related. See Form 990, Part X, line 13.
(a) Description of investment type (b) Book value (c) Method of valuation:
Cost or end-of-year market value








Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)Small Bullet  
Part IX
Other Assets. See Form 990, Part X, line 15.
(a) Description (b) Book value








Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........Small Bullet  
Part X
Other Liabilities. See Form 990, Part X, line 25.
1.(a) Description of Liability (b) Book value
Federal Income Taxes 0
SPLIT INTEREST AGREEMENTS 2,490,359
REFUNDABLE LOAN FUNDS(PERKINS LOAN) 1,328,594
INTEREST RATE SWAP AGREEMENT 5,559,333
OTHER LONG-TERM LIABILITY 121,482





Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)Small Bullet 9,499,768
2. Fin 48 (ASC 740) Footnote. In Part XIV, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC740).
Schedule D (Form 990) 2011

Schedule D (Form 990) 2011
Page 4
Part XI Reconciliation of Change in Net Assets from Form 990 to Financial Statements
1 Total revenue (Form 990, Part VIII, column (A), line 12) .................... 1 108,007,338
2 Total expenses (Form 990, Part IX, column (A), line 25) ..................... 2 97,561,505
3 Excess or (deficit) for the year. Subtract line 2 from line 1 ............. 3 10,445,833
4 Net unrealized gains (losses) on investments .......................... 4 -6,711,569
5 Donated services and use of facilities ............................. 5  
6 Investment expenses ................................... 6  
7 Prior period adjustments .................................. 7  
8 Other (Describe in Part XIV.) ................................. 8 -3,361,012
9 Total adjustments (net). Add lines 4 through 8 ......................... 9 -10,072,581
10 Excess or (deficit) for the year per financial statements. Combine lines 3 and 9 ......... 10 373,252
Part XII Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
1 Total revenue, gains, and other support per audited financial statements ....... 1 69,617,563
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains on investments .......... 2a -6,711,569
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIV.) ............ 2d 78,197
e Add lines 2a through 2d ..................... 2e -6,633,372
3 Subtract line 2e from line 1..................... 3 76,250,935
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a  
b Other (Describe in Part XIV.) ........... 4b 31,756,403
c Add lines 4a and 4b....................... 4c 31,756,403
5 Total Revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5 108,007,338
Part XIII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
1 Total expenses and losses per audited financial statements ............. 1 64,631,506
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities .......... 2a  
b Prior year adjustments .............. 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIV.) ............ 2d 78,197
e Add lines 2a through 2d...................... 2e 78,197
3 Subtract line 2e from line 1..................... 3 64,553,309
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a  
b Other (Describe in Part XIV.) ............ 4b 33,008,196
c Add lines 4a and 4b....................... 4c 33,008,196
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5 97,561,505
Part XIV
Supplemental Information
Complete this part to provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b;
Part V, line 4; Part X; Part XI, line 8; Part XII, lines 2d and 4b; and Part XIII, lines 2d and 4b. Also complete this part to provide any additional information.
Identifier Return Reference Explanation
Description of Organization's Collections Schedule D, Part III, Line 4 The North Central College archives consists of manuscripts, publications, photographs, audio-visual materials, artifacts, and other unique historical materials documenting the history of the college. The archives holds similar types of materials for two additional collections, the suburban studies archives (which seeks to document the transition of Chicago's west suburban region following World War II) and the papers of retired US Congressman Harris W Fawell. The North Central College archives' mission is to collect, organize, describe, preserve and make available for research materials on the history of the college and the local area as related to the college. The archives supports the college community's need for historical information and provides reference assistance to archival researchers on and off campus. North Central College's Oesterle Library Special Collections (independent of the archives) includes a collection of presidential and other famous persons signatures, a first editions collection of books, a unique collection of books on Chicago area history, and a set of books and sheet music for jazz. North Central College's art collection is on display throughout campus and includes a variety of media and artists, from Bronzes by Gustav Borglum and Christian Peterson to tapestry by aluma Helen Gamersfelder Naumann.
Intended Uses of Endowment Funds Schedule D, Part V, Line 4 The intended use of the organization's endowment funds include expending funds toward professional faculty chairs, scholarships, facilities maintenance, library enhancement, and departmental enhancement.
Organization's Liability for Uncertain Tax Positions Under FIN 48 Schedule D, Part X, Question 2 The FASB issued guidance that requires tax effects from uncertain tax positions to be recognized in the financial statements only if the position is more likely than not to be sustained if the position were to be challenged by a taxing authority. Management has determined there are no material uncertain positions that require recognition in the financial statements. Additionally, no provision for income taxes is reflected in these financial statements as the College's unrelated business income was offset by the expenses directly connected with the conduct of the activity creating a net operating loss. There is no interest or penalties recognized in the statements of activities or statements of position. The tax years ending 2008, 2009 and 2010 are still open to audit for both federal and state purposes.
Supplemental Description - Other Schedule D, Part XI, Line 8 Loss on interest rate swap ($3,044,810) Split-Interest Payments ($316,202) Total ($3,361,012)
Supplemental Description - Other Schedule D, Part XII, Line 2d Rental Expenses $78,197
Supplemental Description - Other Schedule D, Part XII, Line 4b Student Financial Aid $32,365,210 Loss on Fixed Assets ($608,807) Total $31,756,403
Supplemental Description - Other Schedule D, Part XIII, Line 2d Rental Expenses $78,197
Supplemental Description - Other Schedule D, Part XIII, Line 4b Student Financial Aid $32,365,210 Loss on Asset Write-Offs $642,986 Total $33,008,196
Schedule D (Form 990) 2011

Additional Data


Software ID:  
Software Version:  




SCHEDULE E(Form 990 or 990-EZ)
Department of the TreasuryInternal Revenue Service
Schools
Right pointing arrow large imageComplete if the organization answered "Yes" to Form 990, Part IV, line 13,or Form 990-EZ, Part VI, line 48.Right pointing arrow large image Attach to Form 990 or Form 990-EZ.
OMB No. 1545-0047
2011
Open to Public Inspection
Name of the organization
North Central College
 
Employer identification number

36-2169157
Part I
YES
NO
1
Does the organization have a racially nondiscriminatory policy toward students by statement in its charter, bylaws,
other governing instrument, or in a resolution of its governing body? ......................
1
Yes
 
2
Does the organization include a statement of its racially nondiscriminatory policy toward students in all its
brochures, catalogues, and other written communications with the public dealing with student admissions,
programs, and scholarships? ......................................
2
Yes
 
3
Has the organization publicized its racially nondiscriminatory policy through newspaper or broadcast media during
the period of solicitation for students, or during the registration period if it has no solicitation program, in a way
that makes the policy known to all parts of the general community it serves? If "Yes," please describe. If "No,"
please explain. If you need more space use Part II. .............................
3
Yes
 
 
4
Does the organization maintain the following?
a
Records indicating the racial composition of the student body, faculty, and administrative staff? ..........
4a
Yes
 
b
Records documenting that scholarships and other financial assistance are awarded on a racially nondiscriminatory
basis? ...............................................
4b
Yes
 
c
Copies of all catalogues, brochures, announcements, and other written communications to the public dealing
with student admissions, programs, and scholarships? ...........................
4c
Yes
 
d
Copies of all material used by the organization or on its behalf to solicit contributions? ..............
4d
Yes
 
If you answered "No" to any of the above, please explain. If you need more space, use Part II.
 
5
Does the organization discriminate by race in any way with respect to:
a
Students' rights or privileges? .....................................
5a
 
No
b
Admissions policies? .........................................
5b
 
No
c
Employment of faculty or administrative staff? ..............................
5c
 
No
d
Scholarships or other financial assistance? ................................
5d
 
No
e
Educational policies? .........................................
5e
 
No
f
Use of facilities? ...........................................
5f
 
No
g
Athletic programs? ..........................................
5g
 
No
h
Other extracurricular activities? .....................................
5h
 
No
If you answered "Yes" to any of the above, please explain. If you need more space, use Part II.
 
6a
Does the organization receive any financial aid or assistance from a governmental agency? ...........
6a
Yes
 
b
Has the organization's right to such aid ever been revoked or suspended? ...................
6b
 
No
If you answered "Yes" to either line 6a or line 6b, explain on Part II.
7
Does the organization certify that it has complied with the applicable requirements of sections 4.01 through 4.05
of Rev. Proc. 75-50, 1975-2 C.B. 587, covering racial nondiscrimination? If "No," explain on Part II.
7
Yes
 
Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50085D
Schedule E (Form 990 or 990-EZ) 2011
Schedule E (Form 990 or 990EZ) 2011
Page 2
Part II
Supplemental Information
Complete this part to provide the explanations required by Part I, lines 3, 4d, 5h, 6b, and 7, as applicable. Also complete this part to provide any other additional information (see instructions).
Identifier Return Reference Explanation
Publication of Racially Nondiscriminatory Policy Schedule E, Part I, Line 3 The college's policy is one of non-discrimination with respect to the public served by the institution and with respect to the college personnel. Advertisements, brochures, publications, application for admissions, etc., contain a statement to the effect that the college does not discriminate on the basis of race, color, religion, gender, age, national origin, ancestry, marital status, sexual orientation, handicap, disability, veteran status or unfavorable discharge from military service. A classified advertisement is run once per term with the college's anti-discrimination policy.
Government Assistance Schedule E, Part I, Line 6a North Central College applies for and receives educational grants, as approved on a case by case basis, from Federal and State agencies. The college also participates annually in Federal & State financial aid programs, specifically Pell, SEOG, Federal work study, Perkins, Federal Direct Loans, and various state of Illinois scholarship and grant programs for qualified students (i.e. IL MAP). The grants and loans are reported in the College's A-133 Single Audit.
Schedule E (Form 990 or 990-EZ) 2011
Additional Data


Software ID:  
Software Version:  
Schedule I
(Form 990)
Department of the Treasury
Internal Revenue Service
Grants and Other Assistance to Organizations,
Governments and Individuals in the United States
Complete if the organization answered "Yes," to Form 990, Part IV, line 21 or 22.
lBullet Attach to Form 990
OMB No. 1545-0047
2011
Open to Public
Inspection
Name of the organization
North Central College
 
Employer identification number
36-2169157
Part I
General Information on Grants and Assistance
1
Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ....................................
2
Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.
Part II
Grants and Other Assistance to Governments and Organizations in the United States. Complete if the organization answered "Yes" to
Form 990, Part IV, line 21 for any recipient that received more than $5,000. Check this box if no one recipient received more than $5,000. Use
Part IV and Schedule I-1 (Form 990) if additional space is needed ......................... lBullet
(a) Name and address of organization
or government		 (b) EIN (c) IRC Code section
if applicable		 (d) Amount of cash grant (e) Amount of non-cash
assistance		 (f) Method of valuation
(book, FMV, appraisal,
other)		 (g) Description of
non-cash assistance		 (h) Purpose of grant
or assistance






















2
Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................. Bullet Image
 
3
Enter total number of other organizations listed in the line 1 table ......................... . Bullet Image
 
For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) 2011

Schedule I (Form 990) 2011
Page 2
Part III
Grants and Other Assistance to Individuals in the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 22.
Use Schedule I-1 (Form 990) if additional space is needed.
(a)Type of grant or assistance (b)Number of
recipients		 (c)Amount of
cash grant		 (d)Amount of
non-cash assistance		 (e)Method of valuation (book,
FMV, appraisal, other)		 (f)Description of non-cash assistance
(1) Academic Scholarships & Grants 2610 32,365,210      













Part IV
Supplemental Information. Complete this part to provide the information required in Part I, line 2, and any other additional information.
Identifier Return Reference Explanation
Procedure for Monitoring Use of Grant Funds Inside U.S. Schedule I, Part I, Line 2 The College provides scholarships to students matriculating at the College; all funds issued to students are required to defray the cost of tuition and no student may use the funds for other than educational purposes. Since the students have no discretion in the use of the funds, the College does not need to monitor the grants once issued.
Schedule I (Form 990) 2011


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Schedule J
(Form 990)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
SchJMediumBullet Complete if the organization answered "Yes" to Form 990,
Part IV, question 23.
SchJMediumBullet Attach to Form 990. SchJMediumBullet See separate instructions.
OMB No. 1545-0047
2011
Open to Public Inspection
Name of the organization
North Central College
 
Employer identification number

36-2169157
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed in Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
b
If any of the boxes in line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all the expenses described above? If "No," complete Part III to explain....
1b
Yes
 
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
officers, directors, trustees, and the CEO/Executive Director, regarding the items checked in line 1a? ....
2
Yes
 
3
Indicate which, if any, of the following the organization uses to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.
4
During the year, did any person listed in Form 990, Part VII, Section A, line 1a with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment? ...............
4a
 
No
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan? ........
4b
Yes
 
c
Participate in, or receive payment from, an equity-based compensation arrangement? ........
4c
 
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3) and 501(c)(4) organizations only must complete lines 5-9.
5
For persons listed in form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization? ...........................
5a
 
No
b
Any related organization? .........................
5b
 
No
If "Yes," to line 5a or 5b, describe in Part III.
6
For persons listed in form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization? ...........................
6a
 
No
b
Any related organization? .........................
6b
 
No
If "Yes," to line 6a or 6b, describe in Part III.
7
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization provide any non-fixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............
7
 
No
8
Were any amounts reported in Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III .............................
8
 
No
9
If "Yes" to line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
 
For Privacy Act and Paperwork Reduction Act Notice, see the Intructions for Form 990
Cat. No. 50053T
Schedule J (Form 990) 2011

Schedule J (Form 990) 2011
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.
For each individual whose compensation must be reported in Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.

Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and column (E) for that individual.
(A) Name (B) Breakdown of W-2 and/or 1099-MISC compensation (C) Retirement and other deferred compensation (D) Nontaxable
benefits		 (E) Total of columns
(B)(i)-(D) 		(F) Compensation
reported as deferred
in prior Form 990
(i) Base compensation (ii) Bonus & incentive compensation (iii) Other reportable compensation
(1) Dr Harold R Wilde (i)
(ii)		 325,955
0 		0
0 		6,729
0 		134,500
0 		35,776
0 		502,960
0 		0
0
(2) Mr Paul Loscheider (i)
(ii)		 168,809
0 		20,500
0 		1,125
0 		32,826
0 		20,111
0 		243,371
0 		0
0
(3) Ms Laurie Hamen (i)
(ii)		 178,019
0 		20,500
0 		601
0 		32,826
0 		1,224
0 		233,170
0 		0
0
(4) Dr R Devadoss Pandian (i)
(ii)		 174,386
0 		20,500
0 		3,474
0 		33,505
0 		20,830
0 		252,695
0 		0
0
(5) Mr Rick E Spencer (i)
(ii)		 171,024
0 		20,500
0 		1,725
0 		32,826
0 		19,773
0 		245,848
0 		0
0
(6) Mr Martin Sauer (i)
(ii)		 141,821
0 		4,500
0 		293
0 		12,764
0 		34,679
0 		194,057
0 		0
0
(7) DR RICHARD WILDERS (i)
(ii)		 147,706
0 		500
0 		2,503
0 		14,256
0 		11,818
0 		176,783
0 		0
0
(8) DR FRANCINE NAVAKAS (i)
(ii)		 136,547
0 		2,000
0 		2,388
0 		13,786
0 		9,319
0 		164,040
0 		0
0
(9) DR MARTI BOGART (i)
(ii)		 120,700
0 		3,500
0 		694
0 		12,277
0 		41,339
0 		178,510
0 		0
0
(10) DR PETER BARGER (i)
(ii)		 121,138
0 		2,500
0 		679
0 		12,114
0 		19,074
0 		155,505
0 		0
0






Schedule J (Form 990) 2011

Schedule J (Form 990) 2011
Page 3
Part III
Supplemental Information
Complete this part to provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4c, 5a, 5b, 6a, 6b, 7, and 8. Also complete this part for any additional information.
Identifier Return Reference Explanation
Housing allowance or residence for personal use Schedule J, Part I, Line 1a Value of housing provided to the president of the college (non-taxable): IRS instructions to Form 990 require that the fair market value of housing provided to employees by their employer be reported on Form 990, Part VII, Section A and Schedule J, Part II. As a condition of employment, the president of North Central College is required to reside on the campus premises. The residence serves both as a personal residence as well as a venue for regular carrying on of college business. The college has determined that the value of the use of this personal residence is not considered taxable income to the president as provided for in internal revenue code section 119. For tax year 2011, the value of the president's use of the residence is conservatively estimated to be $23,700. This estimated value is based on the fair rental value of $1,975 per month for similar houses in the area. During tax year 2011, the current president, Dr. Harold R. Wilde, made the residence their home for 12 months of the year. Schedule J, Part II, column (d) includes $23,700 of non-taxable income associated with the use of the residence provided by the college.
Nonqualified supplemental retirement plan Schedule J, Part I, Line 4b The following individuals participate in the supplemental nonqualified 457(f) retirement plan. Dr Harold R Wilde $110,000 Mr Paul Loscheider $15,000 Ms Laurie Hamen $15,000 Dr R D Pandia $15,000 Mr Rick Spencer $15,000
Schedule J (Form 990) 2011

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Schedule K
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Information on Tax Exempt Bonds
SchKMediumBullet Complete if the organization answered "Yes" to Form 990, Part IV, line 24a. Provide descriptions,
explanations, and any additional information in Part VI.
SchKMediumBullet Attach to Form 990. SchKMediumBullet See separate instructions.
OMB No. 1545-0047
2011
Open to Public
Inspection
Name of the organization
North Central College
 
Employer identification number
36-2169157
Part I
Bond Issues
(a) Issuer Name (b) Issuer EIN (c) CUSIP # (d) Date Issued (e) Issue Price (f) Description of Purpose (g) Defeased (h) On
Behalf of
Issuer 		(i) Pool
financing
Yes No Yes No Yes No
A Illinois Finance Authority
  		86-1091967 45200FNS4 10-16-2008 17,000,000 See Schedule O   X   X   X
B Illinois Finance Authority
  		86-1091967 452001Q86 05-31-2005 21,200,000 See Schedule O   X   X X  
C Illinois Finance Authority
  		86-1091967 452001ZF0 05-31-2005 36,500,000 See Schedule O   X   X X  
Part II
Proceeds
A B C D
1 Amount of bonds retired . . . . . . . . . . . . . 0 3,400,000 7,000,000  
2 Amount of bonds legally defeased . . . . . . . . . . 0 0 0  
3 Total proceeds of issue . . . . . . . . . . . . . 17,232,326 21,200,000 36,500,000  
4 Gross proceeds in reserve funds . . . . . . . . 0 0 0  
5 Capitalized interest from proceeds . . . . . . . . . . 105,630 0 0  
6 Proceeds in refunding escrows . . . . . . . . . . . 0 21,200,000 36,500,000  
7 Issuance costs from proceeds . . . . . . . . . . . 289,481 0 0  
8 Credit enhancement from proceeds . . . . . . . . . . 420,342 0 0  
9 Working capital expenditures from proceeds . . . . . . . 0 0 0  
10 Capital expenditures from proceeds . . . . . . . . . . 16,351,973 0 0  
11 Other spent proceeds . . . . . . . . . . . 64,900 0 0  
12 Other unspent proceeds . . . . . . . . . . . 0 0 0  
13 Year of substantial completion . . . . . . . . . . . 2009 2000 1999
Yes No Yes No Yes No Yes No
14 Were the bonds issued as part of a current refunding issue? . . . .   X X   X      
15 Were the bonds issued as part of an advance refunding issue? . . . .   X   X   X    
16 Has the final allocation of proceeds been made? . . . . . . X   X   X      
17 Does the organization maintain adequate books and records to support the final allocation of proceeds? . . . . . . . . . . . . . X   X   X      
Part III
Private Business Use
A B C D
Yes No Yes No Yes No Yes No
1 Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds? . . . . . . .   X   X   X    
2 Are there any lease arrangements that may result in private business use of bond-financed property? . . . . . . . . .   X   X   X    
For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50193E
Schedule K (Form 990) 2011
Schedule K (Form 990) 2011
Page 2
Part III
Private Business Use (Continued)
A B C D
Yes No Yes No Yes No Yes No
3a Are there any management or service contracts that may result in private business use of bond-financed property? . . . . . . . . . X   X   X      
b If ‘Yes’ to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property? . . . . . X   X   X      
c Are there any research agreements that may result in private business use of bond-financed property? . . . . . . .   X   X   X    
d If ‘Yes’ to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any research agreements relating to the financed property? .                
4 Enter the percentage of financed property used in a private business use by entities other than a section 501(c)(3) organization or a state or local government . . SchKMediumBullet 0.00000% 0.00000% 0.00000%   %
5 Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government . . . . . . . SchKMediumBullet 0.00000% 0.00000% 0.00000%   %
6 Total of lines 4 and 5 . . .. . . . . . . . . 0.00000% 0.00000% 0.00000%   %
7 Does the bond issue meet the private security or payment test? . . . X   X   X      
8 Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under
Regulations sections 1.141-12 and 1.145-2?
X   X   X      
Part IV
Arbitrage
A B C D
Yes No Yes No Yes No Yes No
1 Has a Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate, been filed with respect to the bond issue? . . .   X   X   X    
2 Is the bond issue a variable rate issue? X   X   X      
3a Has the organization or the governmental issuer entered into a qualified hedge with respect to the bond issue? X     X X      
b Name of provider . . . . . . . . Bank of America NA
  		0
  		Bank of America NA
  		 
 
c Term of hedge . . . . . . . . 29.9   20.  
d Was the hedge superintegrated? . . . .   X       X    
e Was a hedge terminated? . . . . .   X       X    
4a Were gross proceeds invested in a guaranteed investment contract (GIC)? . . . . . .   X   X   X    
b Name of provider . . . . . . 0
  		0
  		0
  		 
 
c Term of GIC . . . . . . .        
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? . . . . . .                
5 Were any gross proceeds invested beyond an available temporary period? . . . . . .   X   X   X    
6 Did the bond issue qualify for an exception to rebate? .   X X   X      
7 Has the organization established written procedures to monitor the requirements of section 148? . . .   X X   X      
Schedule K (Form 990) 2011

Schedule K (Form 990) 2011
Page 3
Part V
Procedures To Undertake Corrective Action
Has the organization established written procedures to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation is not available under applicable regulations? . . . . . . . . . . . . . .
Part VI
Supplemental Information
Complete this part to provide additional information for responses to questions on Schedule K (see instructions).
Identifier Return Reference Explanation
Supplemental Information: Schedule K See Schedule O for Schedule K Supplemental Information.  
Schedule K (Form 990) 2011

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Schedule L
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Transactions with Interested Persons
MediumBullet Complete if the organization answered
"Yes" on Form 990, Part IV, lines 25a, 25b, 26, 27, 28a, 28b, or 28c,
or Form 990-EZ, Part V lines 38a or 40b.
MediumBullet Attach to Form 990 or Form 990-EZ. MediumBulletSee separate instructions.
OMB No. 1545-0047
2011
Open to Public Inspection
Name of the organization
North Central College
 
Employer identification number

36-2169157
Part I
Excess Benefit Transactions (section 501(c)(3) and section 501 (c)(4) organizations only).
Complete if the organization answered "Yes" on Form 990, Part IV, line 25a or 25b, or Form 990-EZ, Part V, line 40b.
1(a) Name of disqualified person (b) Description of transaction (c) Corrected?
Yes No





2
Enter the amount of tax imposed on the organization managers or disqualified persons during the year under section 4958. ......................... Bullet Image$
 
3
Enter the amount of tax, if any, on line 2, above, reimbursed by the organization ....... Bullet Image$
 

Part II
Loans to and/or From Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 26, or Form 990-EZ, Part V, line 38a.
(a) Name of interested person and purpose (b) Loan to or from the organization? (c)Original principal amount (d)Balance due (e) In default? (f) Approved by board or committee? (g)Written agreement?
To From Yes No Yes No Yes No
Total ...............Small Bullet $  
Part III
Grants or Assistance Benefitting Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 27.
(a) Name of interested person (b)Relationship between interested person and the organization (c)Amount of grant or type of assistance
(1) NA N/A 21,000
For Privacy Act and Paperwork Reduction Act Notice, see the
Instructions for Form 990 or 990-EZ.
Cat. No. 50056A
Schedule L (Form 990 or 990-EZ) 2011
Schedule L (Form 990 or 990-EZ) 2011
Page 2
Part IV
Business Transactions Involving Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 28a, 28b, or 28c.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of transaction (d) Description of transaction (e) Sharing of organization's revenues?
Yes No
(1) DAVID KELSCH TRUSTEE 204,682 SEE PART V   No
(2) RAY KINNEY TRUSTEE 291,684 SEE PART V   No
(3) BRAD SPENCER FAMILY OF CURRENT OFFICER 44,101 EMPLOYMENT   No
Part V
Supplemental Information
Complete this part to provide additional information for responses to questions on Schedule L (see instructions).
Identifier Return Reference Explanation
Grants or Assistance Benefiting Interested Persons Schedule L, Part III Although there may be recipients who are related to persons having an interest in the institution, such recipients are selected on an equal, objectively determinable basis with other recipients. All students receiving scholarships and fellowships are judged worthy by the institution's assessment on the basis of academic achievement, financial need and other similar standards. Any scholarship committee member who has a relationship with any potential recipient of scholarship money is not included in the selection process for that particular candidate.
Business Transactions with Interested Persons Schedule L, Part IV David Kelsch is a trustee of the board of North Central College, he is also the President and CEO of Advanced Data Technologies Inc. North Central College paid Advanced Data Tech $204,682.24 for professional services during fiscal year 2012. The business transaction between North Central College and Advanced Data Technologies Inc was conducted at arm's length, and a fair market value price was provided to the college for the services provided. Ray Kinney is a trustee of the board of North Central College, he is also a Principal of Minuteman Press and substantial shareholder of the company. Additionally, Ray Kinney is an officer of Blooming Color. North Central College paid Minuteman Press $247,660 and Blooming Color $44,024 in fiscal year 2012 for their services. The business transaction between North Central College, Minuteman Press, and Blooming Color was conducted at arm's length, and a fair market value price was provided to the college for the services provided. The College employs Brad Spencer who is an interested person due to his family relationship with an officer of the College. His employment and resulting salary are not influenced by his relationship and are at fair value for the services provided.
Schedule L (Form 990 or 990-EZ) 2011

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SCHEDULE M
(Form 990)

Department of the Treasury
Internal Revenue Service
NonCash Contributions
Right pointing arrow large imageComplete if the organization answered "Yes" on Form 990, Part IV, lines 29 or 30.
Right pointing arrow large image Attach to Form 990.
OMB No. 1545-0047
2011
Open to Public Inspection
Name of the organization
North Central College
 
Employer identification number

36-2169157
Part I
Types of Property
(a)
Check if applicable 		(b)
Number of Contributions or items contributed 		(c)
Noncash contribution amounts reported on
Form 990, Part VIII, line 1g 		(d)
Method of determining
noncash contribution amounts
1 Art—Works of art ....        
2 Art—Historical treasures .        
3 Art—Fractional interests ..        
4 Books and publications ..      
5 Clothing and household
goods ....... 		     
6 Cars and other vehicles ..        
7 Boats and planes ....        
8 Intellectual property ...        
9 Securities—Publicly traded . X 17 483,475 Market Value
10 Securities—Closely held stock .        
11 Securities—Partnership, LLC,
or trust interests .... 		       
12 Securities—Miscellaneous ..        
13 Qualified conservation
contribution—Historic
structures ..... 		       
14 Qualified conservation
contribution—Other ... 		       
15 Real estate—Residential .        
16 Real estate—Commercial ..        
17 Real estate—Other ...        
18 Collectibles .....        
19 Food inventory ...        
20 Drugs and medical supplies .        
21 Taxidermy ......        
22 Historical artifacts ....        
23 Scientific specimens ..        
24 Archeological artifacts ...        
25 Other Right pointing arrow large image ( )
26 Other Right pointing arrow large image( )
27 Other Right pointing arrow large image( )
28 Other Right pointing arrow large image ( )
29
Number of Forms 8283 received by the organization during the tax year for contributions
for which the organization completed Form 8283, Part IV, Donee Acknowledgement ...
29
 
Yes
No
30a
During the year, did the organization receive by contribution any property reported in Part I, lines 1-28 that it
must hold for at least three years from the date of the initial contribution, and which is not required to be used
for exempt purposes for the entire holding period? ..................
30a
 
No
b
If "Yes," describe the arrangement in Part II.
31
Does the organization have a gift acceptance policy that requires the review of any non-standard contributions?
31
Yes
 
32a
Does the organization hire or use third parties or related organizations to solicit, process, or sell noncash
contributions? ............................
32a
Yes
 
b
If "Yes," describe in Part II.
33
If the organization did not report revenues in column (c) for a type of property for which column (a) is checked,
describe in Part II.
For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 51227J
Schedule M (Form 990) 2011
Schedule M (Form 990) 2011
Page 2
Part II
Supplemental Information. Complete this part to provide the information required by Part I, lines 30b,
32b, and 33 and whether the organization is reporting in Part I, column (b) the number of contributions, the number of items received, or a combination of both. Also complete this part for any additional information.
Identifier Return Reference Explanation
How Organization is Reporting Contributions Schedule M, Part 1, Column B The organization is reporting the number of contributions, not items received.
Third Party Vendor Arrangement Schedule M, Part 1, Line 32a When North Central College receives a stock gift, the development office refers the donor to our 3rd party broker Stifel Nicolaus (70 W Madison St, Suite 5000, Chicago, IL 60602). Upon authorization from the VP of Business Affairs, the broker sells the stock and sends North Central College the proceeds less fees.
Schedule M (Form 990) 2011
Additional Data


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SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
OMB No. 1545-0047
2011
Open to Public
Inspection
Name of the organization
North Central College
 
Employer identification number

36-2169157
Identifier Return Reference Explanation
Material Differences in Members' Voting Rights Form 990, Part VI, Line 1A and 1B There were 36 voting members at the beginning and end of fiscal year 2012. Three new members (Erin Bishop, Matthew Brill, and Lee Woolley) were appointed to the board during the fiscal year. Bill Plamondon moved from Active to Honorary Trustee, and Misty Gruber and Pat Pulido Sanchez retired from the board. The President and 7 other members of the Board have a conflict based on the criteria provided. Executive Committee Membership: There shall be an Executive Committee of up to thirteen members, composed of the Chair, the four Vice-Chairs, the Secretary, the audit committee chair, the President of the College and up to five at-large members. A quorum shall consist of seven members. Duties: The Executive Committee shall transact such business as may be referred to it by the Board of Trustees, and any other business which the interests of the College may require during the intervals between meetings of the Board. It shall hold such meetings as it may deem desirable, and shall keep an accurate record of its proceedings and receive approval of these miuntes at the next regularly scheduled meeting of the Board. The Secretary of the Board shall mail the record of the proceedings of each meeting within forty-five days to all members of the Board and to such other persons as the Committee may designate. The Committee shall annually set by June 30 the salary and benefits to be provided the President of the College for the following fiscal year.
Family Relationships Form 990, Part VI, Line 2 Trustee Jeff Oesterle has a business relationship with Trustee Scott Wehrli. Trustees Kevin Gensler, Ray Kinney, and Scott Wehrli have a business relationship with each other.
Form 990 Review Process Form 990, Part VI, Line 11b The review will be conducted prior to filing the 990 with the IRS. The Assistant VP of Finance/Comptroller and Senior Accountant gather all information from various areas of the college and submit to tax professionals for the first draft of the 990. The Assistant VP of Finance/Comptroller and Senior Accountant review and make necessary changes. The second draft is then reviewed by the VP for Business Affairs and the College President. Again, updates and changes are made if necessary. A final draft is sent via email to all voting board members for their review. If any changes are required after board review, they will be sent to the tax professionals for incorporation into the Form 990.
Conflict of Interest Policy Monitoring & Enforcement Form 990, Part VI, Line 12c The conflict of interest statements are sent to each board member with the May board packet, which includes reading materials for the upcoming meeting. All board members are expected to return the conflict of interest statements at the May board meeting, if not sooner. A process has been established to follow up with any members who have not returned the conflict of interest statement within the given parameters. The college monitors conflicts of interest by sending out a questionnaire annually, as well as at every meeting the question is raised. If a conflict arises, that individual is prohibited from participating in the governing body's deliberations and decisions in the transaction under discussion.
Process for Determining Compensation Form 990, Part VI, Line 15a The Compensation Committee (a sub-committee of the Board) is responsible for determining the President's salary and reviewing the Vice Presidents' salaries. The Compensation Committee works with Human Resources (and possibly outside consultants) to obtain comparable salary/benefit data from organizations such as College and University Personnel Association (CUPA), in order to establish appropriate salary/benefit packages. The Compensation Committee consists of the Chair of the Board and two active trustees, who are not related to the President or Vice Presidents and do not perform management-directed services to the College. The College has an annual review of their compensation process. Annually, the Executive Committee reviews the Compensation Committee's recommendations and approves the President's compensation. The Vice Presidents' compensation is brought before the Board of Trustees in an executive session at the fall meeting. Contemporaneous documentation is maintained for all compensation decisions.
How Organization Makes Important Documents Available to the Public Form 990, Part VI, Section C, Line 19 The conflict of interest policy, financial statements, Form 990, and Form 990T are available to the public at North Central College's website, www.noctrl.edu. The college's governing documents are not currently posted on the website, but they are availble upon request.
Other Changes in Net Assets or Fund Balances Form 990, Part XI, Line 5 Unrealized gain ($6,711,569) Change in fair value of interest rate swap agreement ($3,044,810) Change in value of split-interest agreements ($316,202) Total increase in net assets or fund balances ($10,072,581)
Description of Purpose Schedule K, Part I, Column F, Line A The bonds were issued to finance or reimburse the costs of the acquisition, construction, renovation, improvement and equipping of certain educational facilities.
Description of Purpose Schedule K, Part I, Column F, Line B The bonds and the 1999 Bonds (defined below) were issued to provide funds to several Section 501(c)(3) nonprofit organizations. The bonds were issued in the amount of $21,200,000. North Central College benefitted from $10,000,000 of the proceeds of the bonds. The issuer of the bonds changed the mandatory tender provisions of the indenture governing previously issued bonds (the "1999 Bonds") thereby resulting in the Variable Rate Demand Revenue Bonds, Series 1999 (ACI/Cultural Pooled Financing Program) originally issued by the Illinois Educational Facilities Authority on July 28, 1999 to be assumed to be reissued and currently refunded for Federal income tax purposes on May 31, 2005. The portion of the proceeds of the 1999 Bonds which were borrowed by North Central College were used to finance or reimburse the costs of the acquisition, construction, renovation, improvement and equipping of educational facilities.
Description of Purpose Schedule K, Part I, Column F, Line C The bonds and the 1998 Bonds (defined below) were issued to provide funds to several Section 501(c)(3) nonprofit organizations. North Central College benefitted from $15,000,000 of the proceeds of the Bonds. The bonds were issued in the amount of $36,500,000. The issuer of the bonds changed the mandatory tender provisions of the indenture governing previously issued bonds (the "1998 Bonds") thereby resulting in the Variable Rate Demand Revenue Bonds, Series 1998 (ACI/Cultural Pooled Financing Program) originally issued by the Illinois Educational Facilities Authority on March 25, 1998 to be assumed to be reissued and currently refunded for Federal income tax purposes on May 31, 2005. The portion of the proceeds of the 1998 Bonds which were borrowed by North Central College were used to finance or reimburse the costs of the acquisition, construction, renovation, improvement and equipping of educational facilities. In April of 2006, North Central College paid $500,000 of principal; therefore $14,500,000 is still outstanding.
Total Proceeds of issue Schedule K, Part II, Column A, Line 3 The issue price of the bonds is $17,000,000. Investment earnings through the end of the project period were $232,326.
Total Proceeds of issue Schedule K, Part II, Column B, Line 3 The issuer price of the bonds is $21,200,000. North Central College benefitted from $10,000,000 of the proceeds of the bonds. The $10,000,000 amount is inadvertently listed as $9,000,000 on the Form 8038 for the 1999 bonds.
Total Proceeds of issue Schedule K, Part II, Column C, Line 3 The issue price of the bonds is $36,500,000. North Central College benefitted from $15,000,000 of the proceeds of the bonds. In April of 2006, North Central College paid $500,000 of principal; therefore $14,500,000 is still outstanding.
Other Spent Proceeds Schedule K, Part II, Column C, Line 11 Other spent proceeds includes LOC fees of $25,500 (paid 10/31/08 from the Project Fund), LOC fees of $19,650 (paid 7/21/09 from the Cap Interest fund), and $19,750 of Remarketing Fees (paid 11/3/09 from the Cap Interest fund).
Procedures to Undertake Corrective Action Schedule K, Part V North Central College has not violated any applicable requirements for tax exempt bonds benefiting the college. The College has not established written procedures to ensure timely identification of federal tax requirements or timely correction of any identified violations, but the College will look into establishing procedures in the near future.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2011

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