2024-11-11T08:40:04-06:00 2023-06-30 340677006 MALONEY NOVOTNY LLC 1111 SUPERIOR AVE SUITE 700 CLEVELAND OH 441142540 990 2022-07-01 340714689 NOTRE DAME COLLEGE NOTR 2163811680 4545 COLLEGE ROAD SOUTH EUCLID OH 44121 SAMUEL STEINHOUSE CHIEF LIQUIDATION OFFICER & TRUSTEE 2166725560 2024-11-11 1 0 CHRISTOPHER B ANDERSON P00226559 2163630100 2022 2024-10-15 13:58:12Z SAMUEL STEINHOUSE 4545 COLLEGE ROAD SOUTH EUCLID OH 44121 50783162 0 0928 X WWW.NOTREDAMECOLLEGE.EDU X 1922 OH NOTRE DAME COLLEGE, A CATHOLIC INSTITUTION IN THE TRADITION OF THE SISTERS OF NOTRE DAME, EDUCATES A DIVERSE POPULATION IN THE LIBERAL ARTS FOR PERSONAL, PROFESSIONAL AND GLOBAL RESPONSIBILITY. 16 15 721 5 0 0 6262505 3411413 38733558 39544584 1151044 387016 346479 351287 46493586 43694300 20444591 19392108 0 0 11652850 12688407 0 0 983899 15219534 15260722 47316975 47341237 -823389 -3646937 40169879 37248624 19057661 18433597 21112218 18815027 NOTRE DAME COLLEGE, A CATHOLIC INSTITUTION IN THE TRADITION OF THE SISTERS OF NOTRE DAME, EDUCATES A DIVERSE POPULATION IN THE LIBERAL ARTS FOR PERSONAL, PROFESSIONAL AND GLOBAL RESPONSIBILITY. 0 0 39191945 19392108 39584457 HIGHER EDUCATION: NOTRE DAME COLLEGE PROVIDES INSTRUCTION AND RELATED AUXILIARY SERVICES TO APPROXIMATELY 1,500 ENROLLED STUDENTS DURING THE ACADEMIC YEAR. AS A NON-PROFIT EDUCATIONAL INSTITUTION, THE COLLEGE EMPLOYS A REGULAR FACULTY AND MAINTAINS AN UP-TO-DATE CURRICULUM. 39191945 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1909 0 1 721 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 16 15 0 0 0 0 1 0 1 1 1 0 0 0 1 1 1 1 1 1 0 0 X NOTRE DAME COLLEGE 2166725560 4545 COLLEGE ROAD SOUTH EUCLID OH 44121 TERRI EASON BOARD CHAIR 1.00 X 0 0 0 GEOFFREY RITTS VICE CHAIR 1.00 X 0 0 0 GINO SCIPIONE VICE CHAIR 1.00 X 0 0 0 DANIEL CLARK TRUSTEE 1.00 X 0 0 0 SANJIV KAPUR TRUSTEE 1.00 X 0 0 0 RICH GARCIA TRUSTEE 1.00 X 0 0 0 MICHAEL CANTY TRUSTEE 1.00 X 0 0 0 SR MICHELLE KELLY SND TRUSTEE 1.00 X 0 0 0 KIRK HERATH TRUSTEE 1.00 X 0 0 0 NANCY MCBRIDE TRUSTEE 1.00 X 0 0 0 MAY WYKLE TRUSTEE 1.00 X 0 0 0 BRANDON BUCKNELL TRUSTEE 1.00 X 0 0 0 CORY JENKINS TRUSTEE 1.00 X 0 0 0 BETHANY PUGH TRUSTEE 1.00 X 0 0 0 HEATHER SCHLEGEL TRUSTEE 1.00 X 0 0 0 J MICHAEL PRESSIMONE COLLEGE PRESIDENT 40.00 X X 317878 0 29469 JENNIFER ERBS VP-FINANCE & CFO 40.00 X 133695 0 9319 451573 0 38788 2 0 1 0 NORMANDY CATERING INC 30310 PALISADES PARKWAY WICKLIFFE OH 44092 FOOD SERVICE 2291155 ACADEMIC PARTNERSHIPS 700 N PEARL ST STE 600 DALLAS TX 75201 ONLINE COURSE MGMT. 963596 HUMMER PAVING COMPANY 14600 CAVES RD NOVELTY OH 44072 PAVING SERVICES 480655 ALL FOR YOU JANITORIAL INC 9780 RAVENNA RD CHARDON OH 44024 CLEANING SERVICES 422500 JENZABAR INC PO BOX 845588 BOSTON MA 02284 SOFTWARE SERVICES 368919 11 3411413 330786 3411413 TUITION AND FEES 900099 33468624 33468624 AUXILIARY OPERATIONS 900099 6075960 6075960 39544584 321207 321207 318228 0 318228 318228 318228 7130582 7064773 65809 65809 65809 17275 24089 -6814 -6814 MISC INCOME 900099 39873 39873 39873 43694300 39584457 0 698430 19392108 19392108 490361 372119 100865 17377 10370376 7723532 2281896 364948 48291 44573 1869 1849 941165 868699 36423 36043 838214 773674 32439 32101 70465 70465 51300 29812 18529 2959 48015 48015 214495 165601 32461 16433 1009910 689129 265832 54949 1430994 1429579 1415 924261 907632 10777 5852 199677 48715 93559 57403 842969 842969 1684313 1195292 429618 59403 554260 411595 139774 2891 CONTRACT SERVICES 5197340 3020370 1877257 299713 MEMBERSHIP&SUBSCR. 356362 227525 125523 3314 PROGRAM EXPENSES 341385 341385 RECRUITING&PUBLICATIONS 185137 42000 127468 15669 2149839 1508605 628239 12995 47341237 39191945 7165393 983899 872671 397383 49724 51150 801512 591735 4308297 2775713 436262 323795 60683734 37354811 24052378 23328923 9263818 9293948 320668 0 64549 485977 40169879 37248624 900165 1836488 568368 424233 14893332 14425322 46977 31556 2648819 1715998 19057661 18433597 X 10570032 8801223 10542186 10013804 21112218 18815027 40169879 37248624 X -3646937 436627 913119 X 0 1 X 1 1 1 X 5172969 6201110 6514084 6262505 3411413 27562081 5172969 6201110 6514084 6262505 3411413 27562081 326420 27235661 417572 340072 224142 407980 639435 2029201 459095 345451 366310 328354 57148 1556358 31147640 203911156 0.87440 0.87060 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: SPEV EVENT REVENUE - 2018 AMOUNT: $ 42,053. 2019 AMOUNT: $ 34,156. 2020 AMOUNT: $ 11,671. 2021 AMOUNT: $ 42,623. 2022 AMOUNT: $ 17,275. OTHER INCOME - 2018 AMOUNT: $ 417,042. 2019 AMOUNT: $ 311,295. 2020 AMOUNT: $ 354,639. 2021 AMOUNT: $ 285,731. 2022 AMOUNT: $ 39,873. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9241315 155005 775628 878000 9293948 13516953 223720 -1844358 2655000 9241315 10567010 271640 3153303 475000 13516953 10628189 291049 70772 423000 10567010 10033782 623484 365923 395000 10628189 0.14510 0.78439 0.07051 0 0 4000000 4000000 42603693 25851370 16752323 8510451 7510755 999696 5569590 3992686 1576904 23328923 FAIR VALUE OF INTEREST RATE SWAP 1080339 CAPITAL LEASE OBLIGATIONS 635659 1715998 X 25603923 436627 913119 1349746 24254177 48015 19392108 19440123 43694300 27901114 0 27901114 48015 19392108 19440123 47341237 PART V, LINE 4: INTENDED USE OF ENDOWMENT FUNDS - THE COLLEGE UTILIZES ITS ENDOWMENT FUNDS TO ENSURE THE LONG-TERM VIABILITY OF THE ORGANIZATION WHILE APPROPRIATING FUNDS ON AN ANNUAL BASIS TO SUPPORT SCHOLARSHIPS AND OTHER OPERATIONAL EXPENDITURES. PART X, LINE 2: FIN 48 (ASC 740) FOOTNOTE - TAX STATUS: THE COLLEGE IS A NON-PROFIT ORGANIZATION EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT ON NET INCOME DERIVED FROM UNRELATED BUSINESS ACTIVITIES. THE COLLEGE RECOGNIZES THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. AS OF JUNE 30, 2023, THE COLLEGE'S TAX YEARS FROM 2018 AND THEREAFTER REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, AS WELL AS VARIOUS STATE AND LOCAL TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 913,119. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS TO STUDENTS WHICH WERE NETTED WITH REVENUE ON THE FINANCIAL STATEMENTS BUT SHOWN AS AN EXPENSE ON FORM 990 19,392,108. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS TO STUDENTS WHICH WERE NETTED WITH REVENUE ON THE FINANCIAL STATEMENTS BUT SHOWN AS AN EXPENSE ON FORM 990 19,392,108. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 NOTRE DAME COLLEGE ANNUALLY PUBLISHES A NOTICE OF ITS RACIALLY NON-DISCRIMINATORY POLICY IN THE NEWSPAPER WHICH SERVES THE GENERAL COMMUNITY. NOTRE DAME COLLEGE HAS BEEN RECOGNIZED BY U.S. NEWS & WORLD REPORT AS ONE OF THE MOST DIVERSE COMPREHENSIVE COLLEGES IN OHIO. SCHEDULE E, PART I, LINE 6 NOTRE DAME COLLEGE RECEIVES FEDERAL ASSISTANCE THROUGH THE FOLLOWING PROGRAMS: THE U.S. DEPARTMENT OF EDUCATION FEDERAL PELL GRANT PROGRAM, THE FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT PROGRAM, THE FEDERAL WORK STUDY PROGRAM, THE FEDERAL PERKINS LOAN PROGRAM, THE FEDERAL TEACH GRANT PROGRAM, THE DIRECT LOAN PROGRAM, AND HIGHER EDUCATION EMERGENCY RELIEF FUNDS UNDER THE CARES ACT. GOLF OUTING 17275 0 17275 24089 17275 17275 24089 24089 -6814 1 SCHOLARSHIPS 963 19392108 0 PART I, LINE 2: MONITORING USE OF GRANT FUNDS - THE COLLEGE'S FINANCIAL AID, DEVELOPMENT, AND BUSINESS OFFICES TOGETHER ARE RESPONSIBLE FOR MONITORING THE USE OF GRANT FUNDS. THREE DIFFERENT OFFICES ARE INVOLVED IN THE PROCESS FOR ADEQUATE CHECKS AND BALANCES. THE FINANCIAL AID OFFICE VERIFIES STUDENT ELIGIBILITY FOR GRANTS AND AWARDS THE GRANT FUNDS. THE DEVELOPMENT OFFICE CLOSELY MONITORS THE RESTRICTIONS PLACED ON THE GRANT FUNDS FROM THIRD PARTIES. THE DEVELOPMENT OFFICE ENSURES THAT THE GRANTEES SELECTED BY THE FINANCIAL AID OFFICE FULFILL THROUGHOUT THE SEMESTER THE RESTRICTIONS ON THESE GRANTS. THE DEVELOPMENT OFFICE USES INTERNAL REPORTS PROVIDED BY THE FINANCIAL AID OFFICE TO ASSIST WITH THIS PROCESS. THESE INTERNAL REPORTS PROVIDE BASIC DATA ON STUDENT ELIGIBILITY, SUCH AS MAJOR, GPA, AND EXTRACURRICULAR ACTIVITIES. THE DEVELOPMENT OFFICE REPORTS BACK TO THE APPROPRIATE GRANTORS CONCERNING THE USE OF THE GRANT FUNDS. THE BUSINESS OFFICE POSTS THE DISBURSEMENT OF GRANT FUNDS TO THE GENERAL LEDGER UPON RECEIVING CONFIRMATION FROM THE FINANCIAL AID AND DEVELOPMENT OFFICES. ALL GRANT INFORMATION IS KEPT ON A SECURE DATABASE. THIS DATABASE INCLUDES THE NAMES OF THE STUDENTS RECEIVING GRANTS, THE AMOUNT OF THE GRANTS, THE CRITERIA USED TO AWARD GRANTS, AND THE APPLICABLE SEMESTER AND ACADEMIC YEAR. X X 1 1 X X 0 0 0 0 0 0 0 0 0 J MICHAEL PRESSIMONE COLLEGE PRESIDENT 317878 0 0 0 0 0 6158 0 23311 0 347347 0 0 0 PART I, LINE 1A BENEFITS PROVIDED TO CERTAIN INDIVIDUALS - THE COLLEGE PROVIDES NONTAXABLE REIMBURSEMENT OF SPOUSAL TRAVEL EXPENSES AND SOCIAL MEMBERSHIP AND RELATED REASONABLE ENTERTAINMENT EXPENSES IN CONNECTION WITH THE DUTIES OF THE PRESIDENT OF THE COLLEGE. THE COLLEGE REQUIRES SUBSTANTIATION OF THE BUSINESS PURPOSE PRIOR TO REIMBURSEMENT. A OHIO HIGHER EDUCATIONAL FACILITY COMMISSION 346849674 67756BWS5 2008-08-21 20000000 SEE PART VI 0 0 0 A 20000000 600000 889723 3272295 398597 14739385 2009 0 0 1 1 A 0 0 1 1 0 0.02000 0.02000 1 0 0 A 0 0 0 1 1 1 BANK OF AMERICA 30.000000000000 0 0 0 0 0 A 0 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: OHIO HIGHER EDUCATIONAL FACILITY COMMISSION DATE THE REBATE COMPUTATION WAS PERFORMED: 10/15/2013 PART I, LINE A, COL.F - PURPOSE OF BONDS: BOND PROCEEDS WERE USED FOR THE FOLLOWING PURPOSES: CONSTRUCTING, EQUIPPING, FURNISHING, AND OTHERWISE IMPROVING TWO NEW STUDENT HOUSING FACILITIES; RENOVATIONS AND IMPROVEMENTS TO EXISTING CAMPUS DINING HALL; CONSTRUCTION OF PARKING FACILITIES; INFRASTRUCTURE AND VARIOUS BUILDING IMPROVEMENTS; FUNDING OF A PORTION OF CONSTRUCTION PERIOD INTEREST; FUNDING OF RESERVE FUND; AND COSTS OF ISSUING BONDS. X 8 330786 STOCK QUOTE 0 0 1 1 PART I, LINE 32B: USE OF THIRD PARTIES - THE COLLEGE USES A SECURITIES BROKER TO SELL DONATED SECURITIES. THE BROKER'S FEES ARE AT OR BELOW FAIR MARKET VALUE. CLOSURE OF THE COLLEGE: EFFECTIVE MAY 2, 2024, NOTRE DAME COLLEGE WAS CLOSED AND A CHIEF LIQUIDATION OFFICER WAS APPOINTED AS A TRUSTEE. THE FINANCIAL STATEMENT AUDIT FOR THE YEAR ENDED JUNE 30, 2023 HAD BEEN COMPLETED, AND MOST FINANCIAL DATA REFLECTED IN THIS FORM 990 WAS OBTAINED FROM THE AUDITOR'S WORK PAPERS. HOWEVER, FOR NON-FINANCIAL DATA AND CERTAIN DETAILED FINANCIAL INFORMATION, THERE WERE NO EMPLOYEES AT THE COLLEGE TO ASSIST THE CHIEF LIQUIDATION OFFICER AND HIS STAFF WITH OBTAINING THE INFORMATION. DUE TO HAVING LIMITED ACCESS TO CERTAIN DATA, THE CHIEF LIQUIDATOR AND HIS STAFF ARE UNABLE TO MAKE ANY ASSURANCES ABOUT THE ACCURACY AND COMPLETENESS OF THE DATA CONTAINED HEREIN. FORM 990, PART VI, SECTION A, LINE 6 MEMBER OF THE CORPORATION - THE MEMBER OF THE CORPORATION IS THE SND NATIONAL MINISTRY CORPORATION. SEE THE EXPLANATION FOR QUESTION 7B FOR THE POWERS RESERVED TO THE MEMBER. ALL OTHER POWERS AND AUTHORITY FOR THE CONDUCT AND MANAGEMENT OF THE AFFAIRS OF THE COLLEGE ARE DELEGATED AND TRANSFERRED TO THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7B POWERS RESERVED BY THE MEMBERS - THE MEMBER OF THE CORPORATION IS THE SND NATIONAL MINISTRY CORPORATION. APPROVAL OF THE MEMBER, AS RECENTLY UPDATED IN THE COLLEGE'S CONSTITUTION, IS REQUIRED FOR CERTAIN MATTERS INCLUDING THE ACCOUNTABILITY FOR THE CATHOLICITY OF THE COLLEGE, ESTABLISHING THE PHILOSOPHY AND MISSION OF THE COLLEGE, AMENDING THE COLLEGE'S ORGANIZING DOCUMENTS INCLUDING ITS CONSTITUTION, APPROVING THE SELECTION OF CANDIDATES TO BE INTERVIEWED FOR THE PRESIDENT OF THE COLLEGE, AND INITIATING THE LIQUIDATION, DISSOLUTION OR MERGER OF THE COLLEGE. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW - SEE SCHEDULE O FOR DETAILS ABOUT THE CLOSURE OF THE COLLEGE. DATA FORM FORM 990 WAS ASSEMBLED BY THE CHIEF LIQUIDATION OFFICER AND WAS REVIEWED BY THE OUTSIDE TAX PROFESSIONAL FROM THE AUDIT FIRM OF THE COLLEGE. AFTER THE DRAFT OF FORM 990 WAS COMPLETED, IT WAS REVIEWED BY THE CHIEF LIQUIDATION OFFICER AND HIS STAFF FOR ACCURACY. FORM 990, PART VI, SECTION B, LINE 12C MONITORING AND ENFORCEMENT OF CONFLICT POLICY - THE CONFLICT OF INTEREST POLICY COVERS THE TRUSTEES, OFFICERS, AND OTHER KEY EMPLOYEES. THE TRUSTEES, OFFICERS, AND KEY EMPLOYEES COMPLETE A STATEMENT ONCE A YEAR TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST. ANY POTENTIAL CONFLICTS OF INTEREST ARE REVIEWED BY THE EXECUTIVE COMMITTEE OF THE BOARD OR THE PRESIDENT OF THE COLLEGE. THE COLLEGE PRESIDENT OR BOARD SHALL DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS AND, IF SO, AUTHORIZE OR REJECT THE TRANSACTION OR TAKE ANY OTHER ACTION DEEMED NECESSARY TO ADDRESS THE CONFLICT AND PROTECT NOTRE DAME COLLEGE'S BEST INTERESTS. AN INDIVIDUAL WITH A CONFLICT OF INTEREST IS PROHIBITED FROM VOTING ON ANY MATTER THAT DEALS WITH THE CONFLICT AND FROM PARTICIPATING IN ANY DECISIONS THAT RELATE TO THE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION REVIEW AND APPROVAL - THE COMPENSATION OF THE PRESIDENT IS DETERMINED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. THE COMMITTEE USES COMPARABILITY DATA IN ESTABLISHING COMPENSATION AND BENEFITS. THE COMMITTEE MEMBERS ARE INDEPENDENT OF THE PRESIDENT. AS A SMALL COLLEGE WITH LIMITED RESOURCES, THE COMPENSATION LEVEL OF OTHER OFFICERS DOES NOT RISE TO A LEVEL TO NECESSITATE COMPARABILITY DATA. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS - THE COLLEGE DOES NOT MAKE ITS FINANCIAL STATEMENTS, CONFLICT POLICY OR ORGANIZING DOCUMENTS AVAILABLE TO THE GENERAL PUBLIC. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 913,119.