Attach to Form 990 or Form 990-EZ.
Go to
www.irs.gov/Form990 for instructions and the latest information.
| (i) Name of supported organization | (ii) EIN | (iii) Type of organization (described on lines 1- 10 above (see instructions)) | (iv) Is the organization listed in your governing document? | (v) Amount of monetary support (see instructions) | (vi) Amount of other support (see instructions) | |
|---|---|---|---|---|---|---|
| Yes | No | |||||
|
Total |
||||||
Calendar year
(or fiscal year beginning in)
![]() |
(a) 2019 | (b) 2020 | (c) 2021 | (d) 2022 | (e) 2023 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 1 | Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") .. | ||||||
| 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. | ||||||
Calendar year
(or fiscal year beginning in)
![]() |
(a) 2019 | (b) 2020 | (c) 2021 | (d) 2022 | (e) 2023 | (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. Do not include gain or loss from the sale of capital assets (Explain in Part VI.).. | ||||||
| 11 | Total support. Add lines 7 through 10 | ||||||
Calendar year (or fiscal
year beginning in) ![]() |
(a) 2019 | (b) 2020 | (c) 2021 | (d) 2022 | (e) 2023 | (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.) | ||||||
Calendar year
(or fiscal year beginning in)
![]() |
(a) 2019 | (b) 2020 | (c) 2021 | (d) 2022 | (e) 2023 | (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 on 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 VI.) .. | ||||||
| 13 | Total support. (Add lines 9, 10c, 11, and 12.).. | ||||||
| Section A - Adjusted Net Income | (A) Prior Year |
(B) Current Year (optional) |
||||
| 1 | Net short-term capital gain | 1 | ||||
| 2 | Recoveries of prior-year distributions | 2 | ||||
| 3 | Other gross income (see instructions) | 3 | ||||
| 4 | Add lines 1 through 3 | 4 | ||||
| 5 | Depreciation and depletion | 5 | ||||
| 6 | Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions) | 6 | ||||
| 7 | Other expenses (see instructions) | 7 | ||||
| 8 | Adjusted Net Income (subtract lines 5, 6 and 7 from line 4) | 8 | ||||
| Section B - Minimum Asset Amount | (A) Prior Year |
(B) Current Year (optional) |
||||
| 1 | Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year): | 1 | ||||
| a | Average monthly value of securities | 1a | ||||
| b | Average monthly cash balances | 1b | ||||
| c | Fair market value of other non-exempt-use assets | 1c | ||||
| d | Total (add lines 1a, 1b, and 1c) | 1d | ||||
| e |
Discount claimed for blockage or other factors (explain in detail in Part VI): |
|||||
| 2 | Acquisition indebtedness applicable to non-exempt use assets | 2 | ||||
| 3 | Subtract line 2 from line 1d | 3 | ||||
| 4 | Cash deemed held for exempt use. Enter 0.015 of line 3 (for greater amount, see instructions). | 4 | ||||
| 5 | Net value of non-exempt-use assets (subtract line 4 from line 3) | 5 | ||||
| 6 | Multiply line 5 by 0.035 | 6 | ||||
| 7 | Recoveries of prior-year distributions | 7 | ||||
| 8 | Minimum Asset Amount (add line 7 to line 6) | 8 | ||||
| Section C - Distributable Amount | Current Year | |||||
| 1 | Adjusted net income for prior year (from Section A, line 8, Column A) | 1 | ||||
| 2 | Enter 85% of line 1 | 2 | ||||
| 3 | Minimum asset amount for prior year (from Section B, line 8, Column A) | 3 | ||||
| 4 | Enter greater of line 2 or line 3 | 4 | ||||
| 5 | Income tax imposed in prior year | 5 | ||||
| 6 | Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions) | 6 | ||||
| Section D - Distributions | Current Year | |
|---|---|---|
| 1 Amounts paid to supported organizations to accomplish exempt purposes | 1 | |
|
2
Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in excess of income from activity |
2 | |
| 3 Administrative expenses paid to accomplish exempt purposes of supported organizations | 3 | |
| 4 Amounts paid to acquire exempt-use assets | 4 | |
| 5 Qualified set-aside amounts (prior IRS approval required - provide details in Part VI) | 5 | |
| 6 Other distributions (describe in Part VI). See instructions | 6 | |
| 7Total annual distributions. Add lines 1 through 6. | 7 | |
|
8
Distributions to attentive supported organizations to which the organization is responsive (provide details in Part VI). See instructions |
8 | |
| 9 Distributable amount for 2023 from Section C, line 6 | 9 | |
| 10 Line 8 amount divided by Line 9 amount | 10 | |
| Section E - Distribution Allocations (see instructions) |
(i) Excess Distributions |
(ii) Underdistributions Pre-2023 |
(iii) Distributable Amount for 2023 |
|
|---|---|---|---|---|
| 1 Distributable amount for 2023 from Section C, line 6 | ||||
|
2
Underdistributions, if any, for years prior to 2023 (reasonable cause required-- explain in Part VI).
See instructions. |
||||
| 3 Excess distributions carryover, if any, to 2023: | ||||
| a From 2018....... | ||||
| b From 2019....... | ||||
| c From 2020....... | ||||
| d From 2021....... | ||||
| e From 2022....... | ||||
| fTotal of lines 3a through e | ||||
| g Applied to underdistributions of prior years | ||||
| h Applied to 2023 distributable amount | ||||
|
i
Carryover from 2018 not applied (see instructions) |
||||
| j Remainder. Subtract lines 3g, 3h, and 3i from line 3f. | ||||
| 4Distributions for 2023 from Section D, line 7: | ||||
| $ | ||||
| a Applied to underdistributions of prior years | ||||
| b Applied to 2023 distributable amount | ||||
| c Remainder. Subtract lines 4a and 4b from line 4. | ||||
|
5
Remaining underdistributions for years prior to 2023, if any. Subtract lines 3g and 4a from line 2. If the amount is greater than zero, explain in Part VI. See instructions. |
||||
|
6
Remaining underdistributions for 2023. Subtract lines 3h and 4b from line 1. If the amount is greater than zero, explain in Part VI. See instructions. |
||||
|
7 Excess distributions carryover to 2024. Add lines 3j and 4c. |
||||
| 8 Breakdown of line 7: | ||||
| a Excess from 2019..... | ||||
| b Excess from 2020..... | ||||
| c Excess from 2021..... | ||||
| d Excess from 2022..... | ||||
| e Excess from 2023..... | ||||
| Facts And Circumstances Test |
|---|
| Return Reference | Explanation |
|---|
| Software ID: | |
| Software Version: |
| Return Reference | Explanation |
|---|---|
| SCHEDULE E, PART I, LINE 3 | ELMHURST UNIVERSITY POLICY IS THAT OF NON-DISCRIMINATION OF THE PUBLIC SERVED BY THE INSTITUTION AND WITH RESPECT TO THE UNIVERSITY PERSONNEL. ADVERTISEMENTS, PUBLICATIONS, BROCHURES, APPLICATIONS FOR ADMISSION, ETC., CONTAIN A STATEMENT TO THE EFFECT THAT THE UNIVERSITY COMPLIES WITH THE FEDERAL NON-DISCRIMINATION REGULATIONS, AND THEREBY DOES NOT DISCRIMINATE ON THE BASIS OF RACE, GENDER, RELIGION, COLOR, NATIONAL ORIGIN, AGE, SEXUAL ORIENTATION, OR HANDICAP DISABILITY. |
| SCHEDULE E, PART I, LINE 6 | GOVERNMENT ASSISTANCE THE UNIVERSITY RECEIVES GOVERNMENTAL FINANCIAL AID, GRANTS AND ASSISTANCE FROM THE US DEPARTMENT OF EDUCATION, STATE OF ILLINOIS, AND THE LOCAL GOVERNMENT. |
| Software ID: | |
| Software Version: |
| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 1A | THE EXECUTIVE COMMITTEE CONSISTS OF THE CHAIR AND VICE CHAIR OF THE BOARD OF TRUSTEES; THE PRESIDENT OF THE UNIVERSITY; THE CHAIRS OF THE BUSINESS AND FINANCE, INSTITUTIONAL ADVANCEMENT, AND ACADEMIC AFFAIRS COMMITTEES; THE TRUSTEE WHO IS THE IMMEDIATE PAST CHAIR OF THE BOARD OF TRUSTEES; AND TWO TRUSTEES WHO SERVE AS AT LARGE MEMBERS OF THE COMMITTEE. THE AT LARGE MEMBERS WILL BE RECOMMENDED BY THE TRUSTEESHIP COMMITTEE TO THE BOARD FOR APPROVAL AND WILL SERVE A TERM OF TWO YEARS ON A ROTATING BASIS. THE CHAIR OF THE BOARD OF TRUSTEES MAY DESIGNATE ANY TRUSTEE WHO IS NOT A MEMBER OF THE EXECUTIVE COMMITTEE TO SERVE AS A MEMBER OF THE EXECUTIVE COMMITTEE AT ANY SPECIFIED MEETING OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL BE RESPONSIBLE FOR THE PERIODIC REVIEW AND ASSESSMENT OF THE PRESIDENT. THE EXECUTIVE COMMITTEE SHALL SERVE AS A SALARY REVIEW AND PERSONNEL COMMITTEE AND AS A FINAL REVIEWING COMMITTEE FOR GRIEVANCES, AND SHALL CONSIDER CONFIDENTIAL MATTERS BROUGHT BY INDIVIDUAL TRUSTEES. THE EXECUTIVE COMMITTEE SHALL ACT FOR THE BOARD BETWEEN REGULAR SESSIONS OF THE BOARD IN SUCH MATTERS AS IN THE JUDGMENT OF THE CHAIR OF THE EXECUTIVE COMMITTEE SHALL REQUIRE IMMEDIATE ACTION, WITH SUCH ACTIONS SUBJECT TO RATIFICATION AND REVIEW OF THE BOARD, AND SHALL TRANSACT OTHER BUSINESS AS MAY BE COMMITTED TO IT BY THE BOARD. THE EXECUTIVE COMMITTEE SHALL SERVE AS A PLANNING COMMITTEE, MONITOR THE PLANNING AS PRESENTED ANNUALLY BY THE PRESIDENT, PROVIDE STRATEGIC OVERVIEW AND OVERSIGHT OF COMMITTEE ACTIVITIES RELATING TO SUCH PLANS, AND RECOMMEND TO THE BOARD OF TRUSTEES THE INSTITUTIONAL PLANS THAT ARE IN THE BEST INTEREST OF THE UNIVERSITY. THE COMMITTEE MAY INVITE OTHER MEMBERS OF THE BOARD OF TRUSTEES TO ATTEND A MEETING OF THE EXECUTIVE COMMITTEE WITH A VOICE BUT NOT A VOTE. |
| FORM 990, PART VI, SECTION A, LINE 2 | THE FOLLOWING INDIVIDUALS HAVE A BUSINESS RELATIONSHIP OTHER THAN THEIR RELATIONSHIP AS TRUSTEES TO THE UNIVERSITY: - WES BECTON, MARCIELA GUZMAN, FRANK CERRONE |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FINAL REVIEW FORM 990 AND ITS VARIOUS SCHEDULES WERE PREPARED BY A NATIONAL CPA FIRM, AND THEN WERE REVIEWED BY THE KEY OFFICERS OF THE ORGANIZATION PRIOR TO MAKING IT AVAILABLE TO THE BOARD OF TRUSTEES. AFTER THE KEY OFFICERS REVIEWED THE FORM, IT WAS DISTRIBUTED TO THE AUDIT COMMITTEE OF THE TRUSTEES AT THEIR SPRING MEETING. IDENTIFIED NECESSARY CHANGES WERE INCORPORATED FOLLOWING THE BOARD REVIEW PROCESS AND A FINAL COPY OF THE FILING WAS MADE AVAILABLE TO ALL MEMBERS OF THE BOARD OF TRUSTEES PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | CONFLICT OF INTEREST FORMS ARE SENT TO TRUSTEES, OFFICERS, KEY EMPLOYEES (AS APPLICABLE) AND OTHERS FOR COMPLETION. THE COMPLETED FORMS ARE RETURNED TO AND REVIEWED BY THE BOARD AUDIT COMMITTEE CHAIR. THE AUDIT COMMITTEE CHAIR TOGETHER WITH THE AUDIT COMMITTEE IS RESPONSIBLE FOR ADMINISTRATION OF THIS POLICY. MATTERS OF CONCERN ARE BROUGHT TO THE CHAIR OF THE BOARD OF TRUSTEES OR THE PRESIDENT. APPROVAL OF COMPENSATION TRANSACTIONS AND OTHER TRANSACTIONS COVERED BY THE POLICY ARE DONE THROUGH A REVIEW COMPOSED ENTIRELY OF INDIVIDUALS WHO DO NOT HAVE ANY CONFLICT OF INTEREST WITH RESPECT TO THE ARRANGEMENT OR TRANSACTION AT HAND. PERSONS DETERMINED TO HAVE A CONFLICT OF INTEREST ARE PROHIBITED FROM PARTICIPATING IN THE GOVERNING BODY'S DELIBERATIONS AND DECISIONS IN TRANSACTIONS WHICH MAY RELATE TO THE CONFLICT. THEY RELY UPON INDEPENDENT COMPARABILITY DATA OR VALUATIONS PRIOR TO MAKING A DETERMINATION. MATTERS RELATED TO COMPENSATION RELY ON EXTERNAL EXPERTISE IN HIGHER EDUCATION. |
| FORM 990, PART VI, SECTION B, LINE 15 | PROCESS FOR DETERMINING PRESIDENT'S COMPENSATION- THE CURRENT PRESIDENT WAS HIRED JULY 1, 2016. THE PRESIDENT'S SALARY AND ANY SUBSEQUENT CHANGES HAVE BEEN APPROVED IN ADVANCE BY THE BOARD OF TRUSTEES WHO DO NOT HAVE A CONFLICT OF INTEREST CONCERNING THIS TRANSACTION. BEFORE THE COMPENSATION WAS DETERMINED (OR ADJUSTED), THE BOARD OF TRUSTEES RELIED UPON COMPARABLE COMPENSATION OF SIMILARLY QUALIFIED PERSONS, SIMILAR POSITIONS, AND SIMILAR ORGANIZATIONS. THE BOARD OF TRUSTEES REVIEW THE PRESIDENT'S SALARY ANNUALLY WHICH MAY BE ADJUSTED, BASED ON THE BOARD'S ASSESSMENT OF THE PRESIDENTS' PERFORMANCE. THE BASIS FOR ANY ADJUSTMENTS ARE ADEQUATELY AND TIMELY DOCUMENTED. TOP MANAGEMENT'S (VICE PRESIDENTS AND DEANS) SALARIES ARE REVIEWED ANNUALLY BY A PROCESS SIMILAR TO ALL OTHER EMPLOYEES. THE PRESIDENT PERFORMS A FORMAL EVALUATION. CONSIDERING THE ANNUAL PERFORMANCE EVALUATION AND THE FINANCIAL CONSTRAINTS OF THE UNIVERSITY, THE PRESIDENT THEN DETERMINES THE SALARY REVISIONS WHICH ARE REVIEWED BY THE HUMAN RESOURCES COMMITTEE OF THE BOARD OF TRUSTEES. ALL OTHER KEY EMPLOYEE SALARIES ARE REVIEWED ANNUALLY BY A SIMILAR PROCESS AS THE TOP MANAGEMENT. FORMAL PERFORMANCE EVALUATIONS ARE PERFORMED BY THE SUPERVISOR OF EACH KEY EMPLOYEE WITH RECOMMENDATIONS FOR SALARY REVISIONS PROVIDED TO THE TOP MANAGEMENT EMPLOYEE OVER THAT AREA OF RESPONSIBILITY. THE EVALUATIONS AND RECOMMENDATIONS TOGETHER WITH THE COMPARISON TO THE CUPA-HR ANNUAL SALARY SURVEY AND THE PRESET BUDGET FOR SALARY INCREASES ARE REVIEWED BY EACH TOP MANAGEMENT ADMINISTRATOR WITH RECOMMENDATIONS PRESENTED TO THE PRESIDENT. FINAL APPROVAL IS GIVEN BY THE PRESIDENT. MINUTES OF THE HUMAN RESOURCES COMMITTEE DOCUMENT THE DETERMINATIONS MADE DURING EXECUTIVE SESSION. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS OF THE UNIVERSITY ARE AVAILABLE UPON REQUEST. THE CONFLICT-OF-INTEREST POLICY AND FINANCIAL STATEMENTS ARE PROVIDED TO VARIOUS STATE AGENCIES, US DEPARTMENT OF EDUCATION, VARIOUS BANKS AND OTHERS PER AGREEMENT. THE CONFLICT-OF-INTEREST POLICY IS SENT ANNUALLY TO ALL MEMBERS OF THE BOARD OF TRUSTEES, OFFICERS, KEY EMPLOYEES AND OTHER IDENTIFIED EMPLOYEES. |
| FORM 990, PART XI, LINE 8, PRIOR PERIOD ADJUSTMENT; | MANAGEMENT IDENTIFIED ITEMS IN THE YEAR-END CONSTRUCTION IN PROGRESS ('CIP') LISTING HAD EITHER BEEN PLACED IN SERVICE IN A PRIOR PERIOD OR NOT APPROPRIATELY REMOVED FROM CIP WHEN THE ASSET WAS RECOGNIZED AS A ASSET IN SERVICE IN A PRIOR PERIOD. THIS CAUSED AN OVERSTATEMENT IN CIP AND AN UNDERSTATEMENT IN EXPENSES (AS THE ENTRY TO PLACE AN ASSET INTO SERVICE WAS RECORDED IN EXPENSE RATHER THAN A REDUCTION IN CIP) OF $7.4 MILLION. THIS INCORRECT ACCOUNTING TREATMENT DATES BACK TO FY21. MANAGEMENT REVISED PRIOR PERIOD FINANCIAL STATEMENTS TO RECORD THE IMPACT OF THE CHANGE. |
| FORM 990, PART XI, LINE 9: | CHANGE IN VALUE OF INTEREST-RATE SWAP 2,192,643. CHANGE IN ACTUARIAL VALUE OF SPLIT-INTEREST TRUSTS 237,535. |
| Software ID: | |
| Software Version: |