2023-03-24T22:44:40-05:00 2022-06-30 430765316 RUBINBROWN LLP 1200 MAIN STREET SUITE 1000 KANSAS CITY MO 64105 990 2021-07-01 440545813 ROCKHURST UNIVERSITY ROCK 8165014000 1100 ROCKHURST RD KANSAS CITY MO 64110 ROB STIVERS CFO 8165014000 2023-03-15 1 ROB STIVERS 999009999 KIMBERLY A RYAN P00829977 8164721122 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z SANDRA CASSADY 1100 ROCKHURST RD KANSAS CITY MO 64110 131065334 0 X WWW.ROCKHURST.EDU X 1910 MO ROCKHURST UNIVERSITY EXISTS TO TRANSFORM LIVES BY CREATING A LEARNING COMMUNITY CENTERED IN EXCELLENCE IN UNDERGRADUATE LIBERAL ARTS EDUCATION AND GRADUATE EDUCATION. 27 27 1141 200 0 0 14126856 30222868 89617672 88707430 1922392 3802047 3798363 3822770 109465283 126555115 39056996 39916079 0 0 34257143 38736014 0 0 1758742 28592758 31475868 101906897 110127961 7558386 16427154 167230890 176706478 54426095 51611131 112804795 125095347 X ROCKHURST UNIVERSITY EXISTS TO TRANSFORM LIVES BY CREATING A LEARNING COMMUNITY CENTERED IN EXCELLENCE IN UNDERGRADUATE LIBERAL ARTS EDUCATION AND GRADUATE EDUCATION. ROCKHURST IS CATHOLIC AND JESUIT, INVOLVED IN THE LIFE AND GROWTH OF THE CITY AND THE REGION, AND COMMITTED TO THE SERVICE OF THE CONTEMPORARY WORLD. 0 0 49068025 39916079 39387092 ROCKHURST UNIVERSITY IS COMMITTED TO PROVIDING A QUALITY, PRIVATE EDUCATION AT A REASONABLE COST. DURING THE FISCAL YEAR ENDED JUNE 30, 2022 THE UNIVERSITY OFFERED INSTITUTIONAL FINANCIAL AID TO OVER 80% OF ITS GRADUATE AND UNDERGRADUATE STUDENTS. 39916079 39916079 INSTRUCTIONAL EXPENSES REPRESENT THE COST OF DELIVERING THE ROCKHURST EDUCATIONAL EXPERIENCE TO APPROXIMATELY 3,700 UNDERGRADUATE AND GRADUATE STUDENTS. THIS INCLUDES THE SALARIES AND BENEFITS FOR FULL-TIME AND PART-TIME FACULTY MEMBERS, INSTRUCTIONAL MATERIALS, BOOKS AND SUPPLIES, TRAVEL AND PROFESSIONAL DEVELOPMENT, AND DEPRECIATION, MAINTENANCE AND INTEREST COSTS ASSOCIATED WITH VARIOUS CAMPUS FACILITIES. 9404259 9404259 AUXILIARY EXPENSES INCLUDE COSTS ASSOCIATED WITH PROVIDING STUDENT HOUSING AND FOOD SERVICE, EXPENSES RELATING TO THE UNIVERSITY'S PARTICIPATION IN THE NCAA ATHLETIC PROGRAMS, AND DEPRECIATION, MAINTENANCE, AND INTEREST COSTS ASSOCIATED WITH VARIOUS CAMPUS FACILITIES. 98388363 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 5676 0 1141 1 0 0 0 0 0 0 0 0 0 0 0 0 X 27 27 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MO X ROB STIVERS 8165014000 1100 ROCKHURST RD KANSAS CITY MO 64110 DOUGLAS DUNHAM VPAA/PROVOST 40.00 X X 191069 0 19703 GERALD MOENCH CFO THRU 06/11/22 40.00 X X 180049 0 15263 FR THOMAS CURRAN TRUSTEE/PRESIDENT THRU 6/27/22 40.00 X X 0 0 0 SANDRA CASSADY PHD TRUSTEE/PRESIDENT AS OF 06/27/22 40.00 X X 0 0 0 THOMAS HASTINGS MD TRUSTEE/CHAIR 1.00 X X 0 0 0 NANCY CREASY TRUSTEE/VICE CHAIR 1.00 X X 0 0 0 KENNETH GARRETT TRUSTEE/SECRETARY 1.00 X X 0 0 0 LISA GINTER TRUSTEE 1.00 X 0 0 0 KENT BEAUSOLEIL SJ TRUSTEE 1.00 X 0 0 0 HUNG PHAM SJ TRUSTEE 1.00 X 0 0 0 GARY BELSKE TRUSTEE 1.00 X 0 0 0 CAROL GRIMALDI TRUSTEE 1.00 X 0 0 0 GLENNON HEITMANN TRUSTEE 1.00 X 0 0 0 REED MURPHY III TRUSTEE 1.00 X 0 0 0 TOM SACK PHD TRUSTEE 1.00 X 0 0 0 MATTHEW STEWART SJ TRUSTEE 1.00 X 0 0 0 SYLVESTER JAMES TRUSTEE 1.00 X 0 0 0 JIM GLYNN TRUSTEE 1.00 X 0 0 0 BOB BONNEY TRUSTEE 1.00 X 0 0 0 MARK BOSCO SJ TRUSTEE 1.00 X 0 0 0 PEGGY DUNN TRUSTEE 1.00 X 0 0 0 JUAN RANGEL TRUSTEE 1.00 X 0 0 0 DIANE TRIMBLE TRUSTEE 1.00 X 0 0 0 LISA VANSAGHI TRUSTEE 1.00 X 0 0 0 CAROLINA CRUZ DAVIS TRUSTEE 1.00 X 0 0 0 DAMON DANIEL TRUSTEE 1.00 X 0 0 0 KUSH PATEL MD TRUSTEE 1.00 X 0 0 0 BRIDGETTE WILLIAMS TRUSTEE 1.00 X 0 0 0 KEVIN BURKE SJ TRUSTEE 1.00 X 0 0 0 KERM FENDLER TRUSTEE 1.00 X 0 0 0 ZACH POHLMAN TRUSTEE 1.00 X 0 0 0 MARNY SHERMAN TRUSTEE 1.00 X 0 0 0 DERRICK WEINGARTNER SJ TRUSTEE 1.00 X 0 0 0 ANTHONY TOCCO PROFESSOR/HEAD SOCCER COACH 40.00 X 157282 0 7542 HUBERT BENITEZ VP STRAT. IN. & PART. THRU 3/18/22 40.00 X 264252 0 18626 MARY BURNS VP ADVANCEMENT 40.00 X 148017 0 18306 MYLES GARTLAND DEAN-COLLEGE OF BUSINESS 40.00 X 177096 0 10189 JENNIFER FRIEND DEAN-COLLEGE OF ARTS & SCIENCES 40.00 X 136099 0 15627 1253864 0 105256 45 0 1 0 JE DUNN CONSTRUCTION CO 1001 LOCUST KANSAS CITY MO 64106 GENERAL CONTRACTOR 12603094 CHARTWELLS DINING SERVICES PO BOX 417632 BOSTON MA 022417632 FOOD SERVICE 2193011 EXCELLENCE FLOOR CARE LLC 1041 CLEVELAND AVE KANSAS CITY MO 64127 JANITORIAL SERVICES 697737 HELIX ARCHITECTURE DESIGN INC 1629 WALNUT ST KANSAS CITY MO 64108 ARCHITECTURE SERVICES 422394 BORTON CONSTRUCTION 2 COPELAND AVENUE LA CROSSE WI 54603 GENERAL CONTRACTOR 352738 31 44320 16057204 14121344 156326 30222868 TUITION AND FEES 611600 83202769 83202769 HOUSING INCOME 611710 5504661 5504661 88707430 1896078 1896078 69286 50637 18649 18649 18649 5688992 634367 4383105 34285 1305887 600082 1905969 600082 1305887 16595 44320 42192 -25597 -25597 CAFETERIA INCOME 611310 2536101 2536101 BOOKSTORE INCOME 611310 91613 91613 ATHLETIC INCOME 611310 44277 44277 1157727 1157727 3829718 126555115 93137230 0 3195017 38425481 38425481 1490598 1490598 590885 426808 164077 29774974 26953864 1931795 889315 1372997 1180777 137300 54920 4925482 4235915 492548 197019 2071676 1781641 207168 82867 324890 324890 107579 107579 84250 84250 2309887 1732415 577472 629014 539573 75834 13607 1132605 971559 136547 24499 1743262 1495384 210168 37710 3298590 2822358 403783 72449 1042770 894497 125716 22557 710486 609461 85656 15369 1533884 383471 1150413 4518507 3876012 544752 97743 1301841 325460 976381 STUDENT AID 5562206 5562206 CONTRACTUAL SERVICES 1722011 1477155 207606 37250 REPAIRS AND MAINTENANCE 1355598 1162843 163431 29324 TUITION REMISSION 1263939 1263939 2834549 2467693 346820 20036 110127961 98388363 9980856 1758742 1827664 2119 6665415 1548783 7819862 5913577 3186124 2472842 421978 1608554 187348423 79017070 95961697 108331353 45465151 45308909 1568996 1195188 3106833 2724518 1207170 7600635 167230890 176706478 5771152 5816674 5066373 6311460 29792259 27702598 3491031 8205034 10305280 3575365 54426095 51611131 X 39346362 64846665 73458433 60248682 112804795 125095347 167230890 176706478 X 16427154 -7739914 3257104 346208 X X 0 1 X 1 1 1 X 10190412 15117671 14466622 14126856 30222868 84124429 10190412 15117671 14466622 14126856 30222868 84124429 9251708 74872721 1184281 1230637 997067 939822 1965364 6317171 90441600 428404094 0.82790 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1207170 X X 47062093 5395066 -5138985 1585000 45733174 38149258 1680601 8858234 1626000 47062093 38451435 4663290 -967467 3998000 38149258 37127797 1100753 1646885 1424000 38451435 35718537 672963 2117297 1381000 37127797 1.00000 0 0 5877704 5877704 141930580 51735326 90195254 39144695 27281744 11862951 395444 395444 108331353 INTEREST RATE SWAPS 1096918 ASSET RETIREMENT OBLIGATION 598079 DEPOSITS HELD FOR OTHERS 528387 GOVERNMENTAL LOAN OBLIGATIONS 1351981 3575365 79338159 -7739914 439037 -7300877 86639036 39916079 39916079 126555115 70304711 92829 92829 70211882 39916079 39916079 110127961 PART III, LINE 4: THE ROCKHURST UNIVERSITY ART COLLECTION INCLUDES VARIOUS PIECES OF ART SUCH AS DRAWINGS, PAINTINGS, SCULPTURES, AND POTTERY THAT ARE CATALOGUED AND HELD ON DISPLAY THROUGHOUT THE CAMPUS. THE COLLECTION INCLUDES MANY HISTORICAL JESUIT BASED PIECES, WHICH SUPPORT THE JESUIT BACKGROUND AND CULTURE OF THE UNIVERSITY. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 50,637. UNREALIZED GAIN ON INTEREST RATE SWAPS 1,122,638. FUNDRAISING EVENT EXPENSES 42,192. IMPAIRMENT LOSS -776,430. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED AGAINST REVENUES ON FINANCIAL STATEMENTS 39,916,079. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 50,637. FUNDRAISING EVENT EXPENSES 42,192. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED AGAINST REVENUES ON FINANCIAL STATEMENTS 39,916,079. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE UNIVERSITY PUBLISHES THE FOLLOWING NONDISCRIMINATION STATEMENT ON THE UNIVERSITY WEBSITE, IN THE UNIVERSITY CATALOG, AND IN OTHER BROCHURES AND SOLICITATIONS - "ROCKHURST UNIVERSITY IS COMMITTED TO PROVIDING EQUAL OPPORTUNITIES FOR ALL PERSONS REGARDLESS OF RACE, COLOR, CREED, RELIGION, SEX, PREGNANCY STATUS, SEXUAL ORIENTATION, MARITAL STATUS, NATIONAL ORIGIN OR ANCESTRY, AGE, GENDER, DISABILITY, CITIZENSHIP OR INTENDING CITIZENSHIP STATUS, GENDER IDENTITY, VETERAN STATUS OR ANY OTHER STATUS PROTECTED BY LAW ("PROTECTED STATUS"). THIS IS REFLECTED IN ALL POLICIES, PROGRAMS AND PROCEDURES OF THE UNIVERSITY." SCHEDULE E, PART I, LINE 6 THE UNIVERSITY PARTICIPATES IN THE FEDERAL PELL GRANT, FEDERAL WORK STUDY, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT, FEDERAL PERKINS LOAN, AND FEDERAL DIRECT LOAN PROGRAMS. GOLF TOURNAMENT 60915 44320 16595 25067 6452 10673 60915 44320 16595 25067 6452 10673 42192 -25597 1 SCHOLARSHIPS 2169 38425481 PART I, LINE 2: THE GRANTS MADE BY THE UNIVERSITY ARE PRIMARILY FOR STUDENT AID AND SCHOLARSHIPS. A LIST OF RECIPIENTS OF SCHOLARSHIPS AND FELLOWSHIPS IS ON FILE AT THE UNIVERSITY AND IS AVAILABLE UPON REQUEST. ALL STUDENTS RECEIVING SCHOLARSHIPS AND FELLOWSHIPS ARE JUDGED WORTHY BY THE UNIVERSITY ON THE BASIS OF ACADEMIC AND ATHLETIC ACHIEVEMENT, FINANCIAL NEED AND OTHER SIMILAR STANDARDS. 1 X X X X X X 0 0 0 0 0 0 0 0 0 HUBERT BENITEZ VP STRAT. IN. & PART. THRU 3/18/22 264252 0 0 0 0 0 0 0 18626 0 282878 0 0 0 DOUGLAS DUNHAM VPAA/PROVOST 191069 0 0 0 0 0 0 0 19703 0 210772 0 0 0 GERALD MOENCH CFO THRU 06/11/22 180049 0 0 0 0 0 0 0 15263 0 195312 0 0 0 MYLES GARTLAND DEAN-COLLEGE OF BUSINESS 177096 0 0 0 0 0 0 0 10189 0 187285 0 0 0 MARY BURNS VP ADVANCEMENT 148017 0 0 0 0 0 0 0 18306 0 166323 0 0 0 ANTHONY TOCCO PROFESSOR/HEAD SOCCER COACH 157282 0 0 0 0 0 0 0 7542 0 164824 0 0 0 JENNIFER FRIEND DEAN-COLLEGE OF ARTS & SCIENCES 136099 0 0 0 0 0 0 0 15627 0 151726 0 0 0 FORM 990, PART VII, SECTION A, LINE 1 THE COMPENSATION PAID TO REV THOMAS B CURRAN OSFS, PRESIDENT, IS PAID TO HIS RELIGIOUS ORDER. A HEALTH & ED FACILITIES AUTHORITY OF THE STATE OF MO 431178966 2015-12-09 5460000 EDUCATIONAL FACILITIES REVENUE BONDS ROCKHURST UNIVERSITY SERIES 2015A 0 0 0 B HEALTH & ED FACILITIES AUTHORITY OF THE STATE OF MO 431178966 2015-12-09 13970000 EDUCATIONAL FACILITIES REVENUE BONDS ROCKHURST UNIVERSITY SERIES 2015B 0 0 0 C HEALTH & ED FACILITIES AUTHORITY OF THE STATE OF MO 431178966 2017-12-28 19465000 EDUCATIONAL FACILITIES REVENUE BONDS ROCKHURST UNIVERSITY SERIES 2017A 0 0 0 A 3160000 5460000 64247 315720 1 0 1 1 B 3695000 13970000 164382 528 1 0 1 1 C 3133000 19465000 0 1 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 1 1 WELLS FARGO 21.000000000000 0 0 0 0 0 C 0 0 0 0 1 0 0 0 0 A 1 B 1 C 1 SEE SCHEDULE L PART V 0 SCHEDULE L, PART IV A) JE DUNN CONSTRUCTION COMPANY (PEGGY DUNN)B) PEGGY DUNN, TRUSTEE, IS THE WIFE OF A SHAREHOLDER OF JE DUNN.C) $12,603,094D) JE DUNN IS LEADING THE CONSTRUCTION OF THE SEDGWICK HALL RENOVATION AND CENTER FOR FAITH JUSTICE CONSTRUCTION ON CAMPUS.E) NO X 11 156326 FAIR MARKET VALUE 0 1 1 PART I, COLUMN (B): THE AMOUNTS LISTED IN COLUMN B ARE A COMBINATION OF NUMBER OF CONTRIBUTIONS AND NUMBER OF ITEMS CONTRIBUTED. PART I, LINE 32B: THE ORGANIZATION USES A REAL ESTATE AGENT TO SELL REAL ESTATE. FORM 990, PART VI, SECTION B, LINE 11B AN INDEPENDENT ACCOUNTING FIRM PREPARES AND REVIEWS THE 990. THE 990 IS THEN REVIEWED BY UNIVERSITY MANAGEMENT AND ACCOUNTING PERSONNEL. ANY QUESTIONS OR CONCERNS THAT UNIVERSITY MANAGEMENT AND ACCOUNTING PERSONNEL HAVE ARE ADDRESSED AND ANY CORRECTIONS OR CLARIFICATIONS ARE MADE. THE DRAFT VERSION OF THE 990 IS THEN PROVIDED TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES FOR REVIEW. ANY QUESTIONS OR CONCERNS THAT THE AUDIT COMMITTEE MEMBERS HAVE ARE ADDRESSED AND ANY CORRECTIONS OR CLARIFICATIONS ARE MADE. AN ELECTRONIC COPY OF THE FINAL FORM 990 WITH ALL REQUIRED SCHEDULES IS PROVIDED TO ALL MEMBERS OF THE BOARD OF TRUSTEES PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C A COPY OF THE CONFLICT OF INTEREST POLICY IS PROVIDED AT THE TIME OF HIRE FOR FACULTY AND ADMINISTRATIVE STAFF, AND THEREAFTER IS AVAILABLE ON THE UNIVERSITY'S INTRANET SITE. MEMBERS OF THE PRESIDENT'S CABINET MUST SIGN AN ANNUAL CONFLICT OF INTEREST STATEMENT. IN THE CASE OF THE BOARD OF TRUSTEES, A COPY OF THE CONFLICT OF INTEREST POLICY IS PROVIDED AT THE TIME OF ELECTION, AND THEREAFTER ON AN ANNUAL BASIS. EACH JUNE TRUSTEES, OFFICERS, KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES ARE ALSO REQUIRED TO COMPLETE ANNUALLY A DISCLOSURE STATEMENT REGARDING BUSINESS AND FAMILY RELATIONSHIPS, RELATED PERSONS AND ACTIVITIES. THE COMPLETED DISCLOSURE STATEMENTS ARE REVIEWED BY UNIVERSITY MANAGEMENT AND ACCOUNTING PERSONNEL, AND ARE KEPT ON FILE IN THE UNIVERSITY'S OFFICE OF FINANCE AND HUMAN RESOURCES. IF AN INTERESTED PARTY IS AN EMPLOYEE, A MEMBER WITH OVERSIGHT OF THE DEPARTMENT EMPLOYING THE INDIVIDUAL SHALL MAKE A DETERMINATION AS TO WHETHER A CONFLICT EXISTS AND IMPLEMENT THE APPROPRIATE SAFEGUARDS AND CONFLICT MANAGEMENT PLAN TO PROTECT THE UNIVERSITY AND THE PARTIES, INCLUDING NOTIFYING THE BOARD OF TRUSTEES IF THE INTERESTED PARTY IS AN OFFICER, TRUSTEE OR MEMBER OF A COMMITTEE. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE BOARD OF TRUSTEES OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. IF THE GOVERNING BOARD OF TRUSTEES OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE AN INTERESTED PERSON HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE INTERESTED PERSON OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE INTERESTED PERSON'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE GOVERNING BOARD OF TRUSTEES OR COMMITTEE DETERMINES THE INTERESTED PERSON HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES DETERMINES THE ANNUAL COMPENSATION FOR THE UNIVERSITY PRESIDENT. THE PRESIDENT'S COMPENSATION IS COMPARED TO SALARY DATA FOR A BENCHMARK GROUP OF PEER INSTITUTIONS. A MARKET STUDY OF EXECUTIVE COMPENSATION WAS PERFORMED BY AN OUTSIDE CONSULTANT IN MAY 2016. THE TERMS OF THE PRESIDENT'S COMPENSATION ARE DOCUMENTED IN A WRITTEN EMPLOYMENT CONTRACT ON FILE IN THE UNIVERSITY HUMAN RESOURCES DEPARTMENT. THE PRESIDENT'S COMPENSATION IS PAID TO HIS RELIGIOUS ORDER. THE UNIVERSITY PLANNING & BUDGETING COMMITTEE MAKES AN ANNUAL RECOMMENDATION TO THE PRESIDENT AND BOARD OF TRUSTEES FOR ANY SALARY ADJUSTMENTS FOR FACULTY AND ADMINISTRATIVE STAFF WITHIN THE PARAMETERS OF THE ANNUAL OPERATING BUDGET. THIS INCLUDES KEY EMPLOYEES OF THE ORGANIZATION. ADDITIONALLY, THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES ANNUALLY REVIEWS COMPENSATION FOR THE KEY EMPLOYEES OF THE UNIVERSITY AND COMPARES COMPENSATION TO APPROPRIATE HISTORICAL AND BENCHMARK DATA. A MARKET STUDY OF EXECUTIVE COMPENSATION WAS RECENTLY PERFORMED BY AN OUTSIDE CONSULTANT. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS, COMPENSATION PAID TO THE PRESIDENT'S RELIGIOUS ORDER, GOVERNING, DOCUMENTS, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: UNREALIZED GAIN ON INTEREST RATE SWAP AGREEMENTS 1,122,638. IMPAIRMENT LOSS -776,430. FORM 990, PART XI, LINE 8, PRIOR PERIOD ADJUSTMENTS: THE FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2021 WERE RESTATED TO UPDATE THE ACCOUNTING FOR THE RECEIVABLE AND RELATED INCOME FOR THE EMPLOYEE RETENTION CREDIT. THE TOTAL IMPACT TO NET ASSETS WAS AN INCREASE OF $3,257,104. FORM 990, PART XII, LINE 2C NO CHANGE FROM PRIOR YEAR.