2024-05-14T10:31:30-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 4334 MUNSON STREET SUITE 200 CANTON OH 44718 990 2022-07-01 250965438 CARLOW UNIVERSITY CARL 4125786000 3333 FIFTH AVENUE PITTSBURGH PA 15213 DR KATHY W HUMPHREY PRESIDENT 4125786000 2024-05-07 1 DR KATHY W HUMPHREY 999009999 1 JENNIFER COLEMAN P00743188 3304972000 2024-05-07 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DR KATHY W HUMPHREY 3333 FIFTH AVENUE PITTSBURGH PA 15213 98157292 0 X WWW.CARLOW.EDU X 1929 PA TRANSFORMATIONAL HIGHER EDUCATIONAL OPPORTUNITIES FOR A DIVERSE COMMUNITY. 31 30 1045 98 0 0 14332324 27582596 51335789 52899660 8160548 1389468 1525010 2446530 75353671 84318254 12590238 13026805 0 0 29831312 34277667 0 0 1365220 27536009 30733869 69957559 78038341 5396112 6279913 105056716 126780809 35504998 47630762 69551718 79150047 X FOUNDED BY THE SISTERS OF MERCY IN 1929, CARLOW UNIVERSITY PROVIDES A PERSONALIZED ENVIRONMENT, FACULTY FOCUSED ON TEACHING EXCELLENCE, AND EXPERIENTIAL LEARNING. OUR HERITAGE OF SOCIAL JUSTICE AND MISSION TO TRANSFORM LIVES CONTINUES TO MAKE SIGNIFICANT IMPACT IN THE COMMUNITY AND BEYOND. 0 0 65894032 13026805 54345304 FOR THOSE LOOKING TO REACH THEIR FULL POTENTIAL, CARLOW UNIVERSITY ISN'T JUST A PLACE TO LEARN, IT'S A BRAND OF EDUCATION THAT DOESN'T EXIST ANYWHERE ELSE IN HIGHER EDUCATION, WHOSE IMPACTS ARE CHANGING THE COURSE OF OUR FUTURE. ROOTED IN UNITY AND HEALING, LED BY COMPASSION, AND DRIVEN BY SERVICE TO HUMANITY WE ARE REDEFINING WHAT A LEADER LOOKS LIKE -AND IT LOOKS LIKE A CARLOW GRADUATE. UNLIKE OTHER UNIVERSITIES, CARLOW UNIVERSITY IS A HUMAN BRAND GROUNDED IN EMPATHY AND COMMUNITY AND POWERED BY THE CATHOLIC SISTERS OF MERCY, WHO ARE DEVOTED TO WALKING BOLDLY INTO THE CHAOS OF OTHERS IN ORDER TO TRANSFORM LIVES, POSITIVELY IMPACT COMMUNITIES AND CREATE A MORE JUST AND MERCIFUL WORLD.APPROXIMATELY 40% OF CARLOW'S UNDERGRADUATE STUDENT POPULATION ARE PELL-ELIGIBLE, 29% ARE STUDENTS OF COLOR, AND CARLOW RANKS 7TH OUT OF 35 COLLEGES IN PENNSYLVANIA RECOGNIZED AS A TOP PERFORMER ON SOCIAL MOBILITY. THIS IS CONSISTENT WITH CARLOW'S TRADITION OF HELPING THOSE WHO OTHERWISE MAY NOT HAVE HAD OPPORTUNITY, EARN A CERTIFICATE OR DEGREE, THEREBY CHANGING THE COURSE OF THEIR LIFE AND TRANSFORMING THE LIVES OF GENERATIONS TO FOLLOW. CARLOW UNIVERSITY IS UNIQUE IN SERVING BABIES TO AGE THREE THROUGH ITS EARLY CHILDHOOD EDUCATION CENTER, CHILDREN PREK TO K-8 AT ITS CAMPUS LAB SCHOOL, AND STUDENTS FROM HIGH SCHOOL TO AGE 84 THROUGH ITS CAMPUS NETWORK AND ONLINE EDUCATIONAL OFFERINGS. FROM UNDERGRADUATE DEGREE PROGRAMS TO MORE THAN 50 GRADUATE, DOCTORAL AND CERTIFICATE PROGRAMS, CARLOW STUDENTS GRADUATE READY TO MEET TODAY'S WORKFORCE DEMANDS FOR SPECIALIZED KNOWLEDGE AND SKILLS. APPROXIMATELY, 97% OF CARLOW UNDERGRADUATE ALUMNI ARE CONTINUING THEIR EDUCATION OR EMPLOYED WITHIN SIX MONTHS OF GRADUATION.THE CAREER OUTCOMES FOR THE GRADUATING CLASS OF 2021-2022 HAVE REMAINED STRONG, A CONCLUSION BACKED BY A KNOWLEDGE RATE OF 66%. ADDITIONALLY, THE OVERALL CAREER OUTCOME RATE FOR JOB SEEKERS AND GRADUATES SEEKING CONTINUING EDUCATION WAS 97% FOR BACHELOR'S DEGREES, 98% FOR MASTER'S DEGREES, AND 100% FOR DOCTORAL DEGREES. MOST NOTABLE WAS THAT 100% OF GRADUATE STUDENTS REPORTED POSITIVE JOB AND CONTINUING EDUCATION OUTCOMES. ADDITIONALLY, 95% OF STUDENTS GRADUATING WITH A BACHELOR'S DEGREE COMPLETED AT LEAST ONE PROFESSIONAL WORK EXPERIENCE (INTERNSHIP, RESEARCH, ETC.) WITHIN A YEAR OF GRADUATION. FOR SEVEN OF THE LAST EIGHT YEARS, CARLOW UNIVERSITY BSN (BACHELOR OF SCIENCE IN NURSING) GRADUATES HAVE HAD THE HIGHEST NCLEX FIRST TIME PASS RATE IN PITTSBURGH. CARLOW'S MOST RECENT 92.87% PASS RATE SURPASSES THE FIRST-TIME PASS RATE FOR PENNSYLVANIA (84.37%) AND THE NATION (79.92%) AND IS WELCOME NEWS FOR THE CURRENT FIELD OF NURSING, WHERE WORKFORCE SHORTAGES HAVE BEEN MAGNIFIED IN THE AFTERMATH OF THE COVID-19 PANDEMIC. THE CONTINUED EXCELLENCE OF CARLOW'S NURSING GRADUATE PIPELINE IS ALSO VALUABLE FOR THE PROFESSION'S FUTURE, WHICH IS POISED TO GROW NINE PERCENT BY 2030.CARLOW ALSO SERVES THE COMMUNITY AT-LARGE THROUGH A VARIETY OF OUTREACH PROGRAMS. UNDERGRADUATE STUDENTS ALONG WITH THEIR FACULTY ARE DEVELOPING AND IMPLEMENTING COMMUNITY HEALTH FAIRS PROVIDING HEALTH EDUCATION AND HEALTH SCREENINGS TO LOCAL COMMUNITIES.STUDENTS CAN BECOME A PART OF THE CHANGE NEEDED IN HEALTHCARE WITH A PRACTICAL NURSE CERTIFICATE FROM CARLOW UNIVERSITY. IN JUST 16 MONTHS, THEY WILL BE IMMERSED IN A NURSING EDUCATION THAT INCLUDES CLINICAL EXPERIENCE IN A VARIETY OF HEALTHCARE SETTINGS. DIRECT PATIENT CARE, COMMUNITY ENGAGEMENT AND CULTURAL EXPERIENCES ARE INTEGRAL TO THE PROGRAM, AS STUDENTS WILL HAVE THE OPPORTUNITY TO EXPLORE INTELLECTUAL ENDEAVORS, RESPONDING ETHICALLY AND COMPASSIONATELY TO DIVERSE COMMUNITIES.THE PRACTICAL NURSE CERTIFICATE PROGRAM SERVES AS THE IDEAL FOUNDATIONAL MODEL FOR A CAREER-BUILDING PATHWAY IN THE HEALTHCARE FIELD. THE PRACTICAL NURSE CURRICULUM PROVIDES AN ENVIRONMENT THAT ENHANCES THE CREATIVITY OF THE LEARNER WHO CONTRIBUTES FREELY AS A VALUED TEAM MEMBER. VARIOUS CLINICAL AND NON-CLINICAL-BASED PROJECTS AND LEARNING MODALITIES WILL BE INCORPORATED INTO THE EDUCATIONAL MODEL.THESE COLLECTIVE ENDEAVORS ARE PROVIDING OUR STUDENTS WITH VALUABLE EDUCATIONAL PREPARATION UNDER THE SUPERVISION OF THEIR FACULTY MEMBERS AND SERVE OUR LOCAL COMMUNITY OF OAKLAND AND THE SURROUNDING PITTSBURGH AREA. IN ADDITION, THE SPEECH-LANGUAGE PATHOLOGY DEPARTMENT HAS PROVIDED SEVERAL COMMUNITY AND UNIVERSITY-BASED HEALTH FAIRS WITH EMPHASIS ON PROVIDING HEARING SCREENINGS AT NO COST. SPEECH-LANGUAGE PATHOLOGY GRADUATE STUDENTS, UNDER THE SUPERVISION OF A LICENSED AND ASHA-CERTIFIED AUDIOLOGIST, LEAD THE COMMUNITY-BASED HEARING SCREENINGS. THEY ALSO SERVED THE CARLOW COMMUNITY BY OFFERING A FREE HEARING CLINIC TO EMPLOYEES AND STUDENTS THIS FALL.THESE EVENTS PROVIDE A VALUABLE OPPORTUNITY FOR CARLOW STUDENTS TO DEVELOP THEIR CLINICAL SKILLS AND SUPPORT THE UNIVERSITY'S MISSION TO SERVE THE COMMUNITY WITH THE HIGHEST LEVEL OF COMPASSION AND PROFESSIONALISM. 65894032 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 245 0 1045 1 0 0 0 0 0 0 0 0 0 0 0 0 X 31 30 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X X JOHN LEA VP OF FINANCE & BUSINESS DEVELOPMENT 4125786000 3333 FIFTH AVENUE PITTSBURGH PA 15213 KATHY W HUMPHREY PHD PRESIDENT 50.00 X X 457000 0 94124 BRYAN DILUCENTE CHAIR 2.00 X X 0 0 0 SISTER HELEN MARIE BURNS RSM VICE CHAIR, MISSION 2.00 X X 0 0 0 SISTER JULIA UPTON RSM PHD MPH VICE CHAIR 2.00 X X 0 0 0 JAMES H MCTIERNAN TREASURER 2.00 X X 0 0 0 MARCIA MARTIN SECRETARY 2.00 X X 0 0 0 ANITA COURCOULAS TRUSTEE 2.00 X 0 0 0 AMIE DOWNS TRUSTEE 2.00 X 0 0 0 MARGARET MEIS ARMEN JD TRUSTEE 2.00 X 0 0 0 STEVEN MASSARO TRUSTEE 2.00 X 0 0 0 BART GABLER JD MBA TRUSTEE 2.00 X 0 0 0 CAROLINA VELEZ JD TRUSTEE 2.00 X 0 0 0 LOURDES SANCHEZ-RIDGE ESQUIRE TRUSTEE 2.00 X 0 0 0 MARTIN LAMAR TRUSTEE 2.00 X 0 0 0 DEBORAH L RICE-JOHNSON TRUSTEE 2.00 X 0 0 0 CAITLIN MCLAUGHLIN TRUSTEE 2.00 X 0 0 0 MARIBETH MCLAUGHLIN TRUSTEE 2.00 X 0 0 0 NORM MITRY TRUSTEE 2.00 X 0 0 0 JESSICA PRISELAC TRUSTEE 2.00 X 0 0 0 MORTON STANFIELD JR TRUSTEE 2.00 X 0 0 0 NANCY WISNOM STUEVER EDD RN TRUSTEE 2.00 X 0 0 0 ANNA BAMONTE TORRANCE ESQUIRE TRUSTEE 2.00 X 0 0 0 LARA WASHINGTON TRUSTEE 2.00 X 0 0 0 SISTER SUSAN J WELSH RSM TRUSTEE 2.00 X 0 0 0 SISTER LINDA WERTHMAN RSM PHD TRUSTEE 2.00 X 0 0 0 REPRESENTATIVE JAKE WHEATLEY JR TRUSTEE 2.00 X 0 0 0 LATASHA WILSON-BATCH TRUSTEE 2.00 X 0 0 0 PATRICIA G DONOHOE TRUSTEE 2.00 X 0 0 0 SISTER MARY M FANNING RSM PHD TRUSTEE 2.00 X 0 0 0 JOHN DENNY TRUSTEE 2.00 X 0 0 0 ALEX RODRIGUEZ TRUSTEE 2.00 X 0 0 0 DAVID MEADOWS SVP FINANCE/ADMIN - FORMER 50.00 X 187800 0 73903 SIBDAS GHOSH VP/PROVOST - FORMER 40.00 X 202098 0 48646 JOHN LEA VP OF FINANCE & BUSINESS DEVELOPMENT 50.00 X 0 0 0 CARALYNN KASSABOV VP FOR ADVANCEMENT 40.00 X 175000 0 62999 MARY CERCERE VP FOR ENROLLMENT MGMT 40.00 X 161220 0 57146 JAMES SANTUCCI OPERATIONS SERGEANT 40.00 X 208814 0 34537 THOMAS FOUSE ADMINISTRATIVE SERGEANT 40.00 X 190918 0 30935 TIMOTHY PHILLIPS VP OF STUDENT AFFAIRS 40.00 X 144228 0 54163 MATTHEW GORDLEY DEAN - COLLEGE OF ARTS & SCIENCE 40.00 X 145500 0 19535 BRIDGETTE COFIELD CHIEF OF STAFF - FORMER 40.00 X 120000 0 36929 1992578 0 512917 41 0 1 0 CHARTWELLSCOMPASS GROUP USA PO BOX 417632 BOSTON MA 02241 DINING SERVICE 1941999 UPMC SCHOOL OF PERFUSION 532 S AIKEN AVENUE SUITE 105 PITTSBURGH PA 15232 ACADEMIC OPERATIONS 901770 ELLIANCE 700 RIVER AVENUE SUITE 336 PITTSBURGH PA 15212 MARKETING /ADVERTISING SERVICE 651205 ELLUCIAN COMPANY LLC 4 COUNTRY VIEW ROAD MALVERN PA 19355 SOFTWARE SERVICE 630022 WILEY EDU LLC 851 TRAFALGER COURT SUITE 420 W MAITLAND FL 32751 ONLINE EDUCATIONAL PARTNER 414282 20 9853249 17729347 20842 27582596 TUITION AND FEES 611600 45344118 45344118 RESIDENCE HALLS & BOAR 611600 3855810 3855810 CARLOW CAMPUS SCHOOL 721310 2828951 2828951 AUXILIARY PROGRAMS 611600 455561 455561 EARLY LEARNING CENTER 624410 415220 415220 52899660 1581917 1581917 1006376 5490 1000886 1000886 1000886 13641099 13833548 -192449 -192449 -192449 MISCELLANEOUS INCOME 900099 1078883 1078883 PARKING PERMIT FEES 900099 323052 323052 BOOKSTORE COMMISSIONS 900099 43709 43709 1445644 84318254 54345304 0 2390354 X 13026805 13026805 1174904 985183 155342 34379 26002885 21842423 3380375 780087 1072333 900760 139403 32170 4225981 3465304 676157 84520 1801564 1531329 216188 54047 311383 239765 71618 81031 62394 18637 102633 102633 154557 154557 9475965 7486012 1895193 94760 847010 652198 194812 2009239 1486837 361663 160739 1654756 1241067 364046 49643 3705211 2853012 852199 1110824 844226 222165 44433 122817 78603 19651 24563 1795782 1382752 413030 3844233 2960059 884174 351500 270655 80845 NON-FINANCIAL AID 2641608 2641608 AUXILIARY EXPENSES 1314431 1012112 302319 BAD DEBT 622841 479588 143253 MISCELLANEOUS EXPENSES 588048 451340 130829 5879 78038341 65894032 10779089 1365220 5755901 5348834 705238 446121 1311028 925148 3434547 10635411 1424792 1381142 426927 387016 118715736 64981470 53700317 53734266 37766805 53122980 531161 799891 105056716 126780809 4945491 7810776 871974 2431489 7647719 7390000 20216054 28356365 1823760 1642132 35504998 47630762 X 19319009 14386587 50232709 64763460 69551718 79150047 105056716 126780809 6279913 3318416 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 102633 102633 0 PART II-B, LINE 1: BUCHANAN INGERSOLL & ROONEY PROVIDES STATE LEVEL LOBBYING, GRANT WRITING AND GRANT ADMINISTRATION SERVICES FOR CARLOW UNIVERSITY. THE AMOUNTS PAID FOR THESE LOBBYING SERVICES FOR THE FISCAL YEAR JUNE 30, 2023 WERE $102,633. 37743958 12081334 4967197 761561 930796 53100132 42966807 1146852 -4743579 731755 894367 37743958 36091455 844687 7442980 635542 776773 42966807 32440448 829421 4116947 582912 712449 36091455 31308302 517538 1794774 531075 649091 32440448 0.05183 0.74992 0.19825 0 0 1835555 1835555 96955723 50139276 46816447 18111088 14842194 3268894 1813370 1813370 53734266 STUDENT DEPOSITS 117101 FEDERAL LOAN ADVANCES 1525031 1642132 X 75985016 3318416 3318416 72666600 154557 11497097 11651654 84318254 66386687 0 66386687 154557 11497097 11651654 78038341 PART V, LINE 4: THE UNIVERSITYS ENDOWMENT CONSISTS OF APPROXIMATELY 223 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. AS REQUIRED BY AUTHORITATIVE GUIDANCE, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF TRUSTEES, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. PART X, LINE 2: THE UNIVERSITY QUALIFIES AS A TAX-EXEMPT, NONPROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, THERE IS NO PROVISION FOR FEDERAL OR STATE INCOME TAXES. THE UNIVERSITY FOLLOWS THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. THE STANDARD PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT PRINCIPLE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. AS A RESULT OF THE APPLICATION, THE UNIVERSITY EVALUATED ITS TAX POSITIONS AND DETERMINED THAT IT HAD NO UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2023, OR 2022. THE UNIVERSITY'S POLICY IS TO RECOGNIZE INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID NETTED ON FINANCIAL STATEMENTS 11,502,587. RENTAL EXPENSES -5,490. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID NETTED ON FINANCIAL STATEMENTS 11,502,587. RENTAL EXPENSES -5,490. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 CERTAIN RECRUITING PUBLICATIONS AND COLLEGE CATALOGS CONTAIN EXPRESS STATEMENTS THAT THE COLLEGE DOES NOT DISCRIMINATE ON THE BASIS OF RACE, CREED, SEX OR RELIGION. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY DISTRIBUTES STUDENT FINANCIAL ASSISTANCE FUNDS ON BEHALF OF FEDERAL AND STATE GOVERNMENTS. THIS ASSISTANCE INCLUDED FEDERAL AID FROM PELL GRANT AWARDS OF $2,546,952; SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT AWARDS OF $186,900; AND COLLEGE WORK STUDY AWARDS OF $194,987. THE UNIVERSITY ALSO RECEIVED STATE AID FROM THE PA HIGHER EDUCATION ASSISTANCE AUTHORITY IN THE AMOUNT OF $2,110,401. 1 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES INTERNATIONAL TRAVEL 237872 0 0 0 0 0 0 237872 0 237872 0 0 0 0 0 0 PART I, LINE 2: THE UNIVERSITY'S USE OF GRANTS AND OTHER ASSISTANCE OUTSIDE OF THE UNITED STATES IS MONITORED THROUGH THE FINANCE OFFICE, WHICH REQUIRES THE APPROPRIATE SUPPORTING DOCUMENTATION AND AUTHORIZATION IN CONNECTION WITH THE UNIVERSITY'S PURCHASING POLICY. PART III ACCOUNTING METHOD: 1 STUDENT SCHOLARSHIPS 855 12402141 0 CAMPUS SCHOOL STUDENT SCHOLARSHIPS 75 624664 0 PART I, LINE 2: GRANT FUNDS ARE MONITORED BY THE FINANCIAL AID AND ACCOUNTING OFFICES. X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 KATHY W HUMPHREY PHD PRESIDENT 400000 0 0 0 57000 0 64333 0 29791 0 551124 0 0 0 DAVID MEADOWS SVP FINANCE/ADMIN - FORMER 180000 0 0 0 7800 0 36300 0 37603 0 261703 0 0 0 SIBDAS GHOSH VP/PROVOST - FORMER 192474 0 0 0 9624 0 36570 0 12076 0 250744 0 0 0 JAMES SANTUCCI OPERATIONS SERGEANT 208814 0 0 0 0 0 3543 0 30994 0 243351 0 0 0 CARALYNN KASSABOV VP FOR ADVANCEMENT 175000 0 0 0 0 0 28000 0 34999 0 237999 0 0 0 THOMAS FOUSE ADMINISTRATIVE SERGEANT 190918 0 0 0 0 0 0 0 30935 0 221853 0 0 0 MARY CERCERE VP FOR ENROLLMENT MGMT 161220 0 0 0 0 0 23086 0 34060 0 218366 0 0 0 TIMOTHY PHILLIPS VP OF STUDENT AFFAIRS 142800 0 0 0 1428 0 21420 0 32743 0 198391 0 0 0 MATTHEW GORDLEY DEAN - COLLEGE OF ARTS & SCIENCE 145500 0 0 0 0 0 15950 0 3585 0 165035 0 0 0 BRIDGETTE COFIELD CHIEF OF STAFF - FORMER 120000 0 0 0 0 0 13000 0 23929 0 156929 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE PAID AND INCLUDED AS GROSS WAGES ON W-2 FORM FOR THE PRESIDENT ONLY. DUQUESNE CLUB DUES PAID BY CARLOW UNIVERSITY THROUGH ACCOUNTS PAYABLE. NOT TAXED TO AN INDIVIDUAL. PART I, LINE 3 COMPENSATION FOR THE PRESIDENT AND TOP EXECUTIVES IS DETERMINED BY COMPENSATION SUBCOMMITTEE OF THE BOARD OF TRUSTEES BASED ON INTERNAL COMPENSATION DATA BENCHMARKED AGAINST COMPENSATION STUDIES AND HIGHER EDUCATION METRICS SUCH AS AICUP AND CUPA. A WRITTEN EMPLOYMENT CONTRACT IS ESTABLISHED UPON APPROVAL BY THE BOARD. PART I, LINE 4B THE PRESIDENT, DR. KATHY W. HUMPHREY, PARTICIPATED IN A 457(F) SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN IN FY 2023 AND CONTRIBUTED A TOTAL OF $37,360. A AUTHORITY IMPROVEMENTS MUNICIPALITY 251196358 052674AD0 2018-04-26 5175000 ST. JOE'S AND CURRAN HALL RENOVATIONS 0 0 0 B AUTHORITY IMPROVEMENTS MUNICIPALITY 251196358 2023-06-29 2840000 FOR THE RENOVATION OF CERTAIN EDUCATIONAL FACILITIES 0 0 0 A 625000 5175000 235538 5175000 2019 0 0 1 1 B 2840000 49677 2790323 2023 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 1 0 0 0 0 1 B 0 0 0 0 1 0 0 0 1 A 1 B 1 FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF THE UNIVERSITY IS THE CONFERENCE FOR MERCY HIGHER EDUCATION WHICH EXERCISES RESERVED CANONICAL POWERS DELEGATED BY THE INSTITUTE OF THE SISTERS OF MERCY OF THE AMERICAS AND AS OUTLINED IN THE UNIVERSITY'S BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A UP TO SIX OF THE TOTAL TRUSTEES (EX-OFFICIO AND ELECTED TRUSTEES) SHALL BE PROFESSED SISTERS OF THE INSTITUTE OF THE SISTERS OF MERCY OF THE AMERICAS OR ITS CANONICAL SUCCESSOR. THERE SHALL BE THREE EX-OFFICIO TRUSTEES, WHO SHALL BE VOTING MEMBERS OF THE BOARD OF TRUSTEES AND INCLUDED IN THE TOTAL NUMBER OF TRUSTEES, AND SUCH EX-OFFICIO TRUSTEES SHALL CONSIST OF ONE SISTER OF MERCY, APPOINTED BY THE INSTITUTE OF THE SISTERS OF MERCY OF THE AMERICAS, THE PRESIDENT OF THE UNIVERSITY, AND THE BISHOP OF THE DIOCESE OF PITTSBURGH OR HIS DESIGNEE. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBER HAS THE RIGHT TO APPROVE THE FOLLOWING ACTIONS TO THE EXTENT SUCH ACTIONS ARE TAKEN BY THE BOARD OF TRUSTEES: AMENDMENTS TO THE ARTICLES OF INCORPORATION, IF THEY RELATE TO THE RESERVED POWERS DELEGATED TO THE CONFERENCE FOR MERCY HIGHER EDUCATION, THE ADOPTION OR AMENDMENT TO THE MISSION OF THE UNIVERSITY, THE INCURRENCE BY THE UNIVERSITY OF ANY DEBT, AND ANY SALE, TRANSFER, LONG-TERM LEASE OR EMCUMBRANCE OF ANY REAL OR PERSONAL PROPERTY, TANGIBLE OR INTANGIBLE, OF THE UNIVERSITY OUTSIDE THE ORDINARY COURSE OF BUSINESS ONLY TO THE EXTENT SUCH APPROVAL IS REQUIRED UNDER CANON LAW, ANY MERGER, CONSOLIDATION, DISSOLUTION, TRANSFER OF SUBSTANTIALLY ALL THE ASSETS, OR OTHER FUNDAMENTAL TRANSACTION WITHIN THE CONTEMPLATION OF THE PENNSYLVANIA NONPROFIT CORPORATION LAW, OF OR BY THE UNIVERSITY TO THE EXTENT SUCH APPROVAL IS REQUIRED BY CANON LAW. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY A CERTIFIED PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. FORM 990 IS REVIEWED BY MANAGEMENT AND SUBMITTED TO THE AUDIT COMMITTEE FOR REVIEW AND APPROVAL, ONCE THE AUDIT COMMITTEE APPROVES THE SUBMITTED FORM 990; IT IS SUBMITTED TO THE BOARD OF TRUSTEES PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY APPLIES TO ALL "COVERED PERSONS" AS DEFINED IN THE POLICY. EACH COVERED PERSON IS GIVEN A COPY OF THE POLICY, REQUIRED TO SIGN A STATEMENT ACKNOWLEDGING THAT HE OR SHE HAS RECEIVED A COPY OF THE POLICY, UNDERSTANDS IT, AND AGREES TO COMPLY WITH IT. THE COVERED PERSON IS ALSO REQUIRED TO COMPLETE A COVERED PERSON'S QUESTIONNAIRE ON AN ANNUAL BASIS. EACH COVERED PERSON SHALL DISCLOSE ALL ACTUAL AND POTENTIAL CARLOW UNIVERSITY 25-0965438 CONFLICTS AS SET OUT IN THE POLICY. COMPLIANCE WITH THIS POLICY IS MONITORED AND ENFORCED BY THE FOLLOWING PROCEDURE: - EACH YEAR THE VICE PRESIDENT FOR FINANCE AND ADMINISTRATION, OR HIS DESIGNEE, UNDER THE SUPERVISION OF THE CHAIR OF THE AUDIT COMMITTEE, PREPARES A LIST OF COVERED PERSONS. - A COVERED PERSON QUESTIONNAIRE IS DISTRIBUTED TO EACH PERSON ON THE LIST - FORMS ARE COMPLETED AND SIGNED BY EACH COVERED PERSON - COMPLETED FORMS FOR ALL TRUSTEES ARE REVIEWED BY THE CHAIR OF THE AUDIT COMMITTEE TO DETERMINE IF ANY ACTUAL OR POTENTIAL CONFLICTS EXIST - COMPLETED FORMS FOR ALL COVERED PERSONS WHO ARE MEMBERS OF STAFF OR FACULTY ARE REVIEWED BY THE VICE PRESIDENT OF FINANCE AND ADMINISTRATION, OR HIS DESIGNEE. - THE CHAIR OF THE AUDIT COMMITTEE ASKS AT A MINIMUM OF TWO BOARD MEETINGS IF ANY TRUSTEE IS AWARE OF ANY CONFLICTS AND IT IS DOCUMENTED IN THE BOARD MINUTES DISCLOSURE OF ANY POTENTIAL OR ACTUAL CONFLICTS - DISCLOSURE OF ANY POTENTIAL OR ACTUAL CONFLICT OF INTEREST MUST BE DISCLOSED AT THE TIME THEY BECOME A COVERED PERSON, OR AT THE TIME A POTENTIAL OR ACTUAL CONFLICT ARISES AND AT THE TIME OF THE COMPLETION OF THE ANNUAL QUESTIONNAIRE. - ALL DISCLOSURES DETERMINED TO BE A CONFLICT OF INTEREST ACCORDING TO THE POLICY ARE DISCUSSED WITH THE CHAIR OF THE AUDIT COMMITTEE AND BROUGHT FORWARD TO THE NEXT BOARD OF TRUSTEE MEETING. - ANY IDENTIFIED CONFLICT SHALL BE REFLECTED IN THE MINUTES OF THE BOARD OF TRUSTEE MEETINGS ALONG WITH THE NATURE OF SUCH CONFLICT. - THE MINUTES SHALL ALSO REFLECT ALL PERSONS PRESENT AT THE MEETING WHERE ANY VOTING TOOK PLACE ON AN ITEM RELATED TO THE DISCLOSED CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE IS THE AUTHORIZED COMMITTEE OF THE BOARD OF TRUSTEES TO REVIEW COMPENSATION OF THE PRESIDENT. THE EXECUTIVE COMMITTEE CREATED A COMPENSATION COMMITTEE (THE SUBCOMMITTEE) TO PERFORM ANNUAL PERFORMANCE REVIEWS AND SET THE PRESIDENT'S ANNUAL SALARY, IN ACCORDANCE WITH THE EXECUTIVE COMPENSATION PHILOSOPHY, POLICIES AND PROCEDURES APPROVED BY THE BOARD. NO MEMBER OF THE GOVERNANCE COMMITTEE MAY HAVE A CONFLICT OF INTEREST WITHIN THE MEANING OF THE APPLICABLE TREASURY REGULATIONS UNDER SECTION 4958 OF THE INTERNAL REVENUE CODE OF 1986. THE GOVERNANCE COMMITTEE SHALL DOCUMENT ITS DECISIONS WITH RESPECT TO COMPENSATION AS REQUIRED BY THE APPLICABLE TREASURY REGULATIONS UNDER SECTION 4958 OF THE INTERNAL REVENUE CODE OF 1986. THE ACTIONS OF THE GOVERNANCE COMMITTEE ARE INTENDED TO QUALIFY UNDER THE REBUTTABLE PRESUMPTION PROVISIONS IN SECTION 4958 OF THE INTERNAL REVENUE CODE OF 1986. OTHER SENIOR EXECUTIVE COMPENSATION: NO PROSPECTIVE SALARY ADJUSTMENTS WERE ANTICIPATED FOR OTHER SENIOR LEVEL EXECUTIVES. COMPARABILITY DATA AND ANALYSIS WAS PROVIDED TO THE PRESIDENT IN THIS FISCAL YEAR. REPORT TO THE BOARD OF TRUSTEES: THE PROCEDURE STATES THAT, THE GOVERNANCE COMMITTEE SHALL PROVIDE A WRITTEN REPORT TO THE BOARD OF TRUSTEES NO LATER THAN THE NEXT REGULARLY SCHEDULED MEETING OF THE BOARD FOLLOWING THE GOVERNANCE COMMITTEE ACTION ON THE COMPENSATION OF SENIOR EXECUTIVES. THE REPORT SHALL REFLECT BASE SALARY CARLOW UNIVERSITY 25-0965438 AND ALL OTHER ELEMENTS FOR SENIOR EXECUTIVES' COMPENSATION, AS WELL AS A SUMMARY OF THE CRITERIA AND PROCESSES USED TO MAKE THE COMPENSATION DECISIONS AND TO ASSURE THAT THE COMPENSATION IS "REASONABLE AND NOT "EXCESSIVE" WITHIN IRS POLICY AND CRITERIA. RELIANCE ON COMPARABILITY DATA DERIVED FROM MARKET REVIEW AND SELECTION OF PEER INSTITUTIONS: IN DETERMINING AND APPROVING COMPENSATION, THE GOVERNANCE COMMITTEE SHALL RELY ON COMPARABILITY DATA DERIVED FROM A REVIEW OF THE MOST CURRENT INFORMATION AVAILABLE AS TO COMPENSATION LEVELS FOR COMPARABLE SENIOR EXECUTIVES AT PEER INSTITUTIONS, TAKING INTO ACCOUNT THAT AVAILABLE INFORMATION IS GENERALLY FOR THE PRIOR FISCAL OR ACADEMIC YEARS. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST BY THE PUBLIC AT THE CORPORATE ADDRESS. FORM 990, PART IX, LINE 11G CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 7,486,012. MANAGEMENT AND GENERAL EXPENSES 1,895,193. FUNDRAISING EXPENSES 94,760. TOTAL EXPENSES 9,475,965. FORM 990, PART XII, QUESTION 2C: THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AUDITED BY AN INDEPENDENT ACCOUNTING FIRM. IN ADDITION, THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES THE RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND ITS SELECTION OF THE INDEPENDENT AUDITOR. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.