2023-05-13T12:19:49-05:00 2022-06-30 WithumSmithBrown PC 4600 EAST WEST HWY 900 BETHESDA MD 208143423 990 2021-07-01 221508627 SAINT PETER'S UNIVERSITY % PAUL CIRAULO SAIN 2017617428 2641 KENNEDY BOULEVARD JERSEY CITY NJ 073065943 PAUL CIRAULO VP OF FINANCE 2017617428 2023-05-11 true PAUL CIRAULO 999009999 RICHARD L RUVELSON P00234075 3012726000 2 2021 2023-04-26 12:10:37Z EUGENE J CORNACCHIA PHD 2641 KENNEDY BOULEVARD JERSEY CITY NJ 073065943 150094984 false 0928 X WWW.SAINTPETERS.EDU X 1872 NJ SAINT PETER'S UNIVERSITY EDUCATES A DIVERSE COMMUNITY OF LEARNERS IN UNDERGRADUATE, GRADUATE AND PROFESSIONAL PROGRAMS TO EXCEL, LEAD, SERVE AND PROMOTE JUSTICE. 32 31 1037 40 30663 0 19586737 26228313 95781813 93999738 3255378 8271757 -100607 -24962 118523321 128474846 45169180 46489270 0 0 33530905 35848884 50000 0 2210127 32726322 40655358 111476407 122993512 7046914 5481334 164476054 156256560 65758101 65601363 98717953 90655197 X SAINT PETER'S UNIVERSITY, INSPIRED BY ITS JESUIT, CATHOLIC IDENTITY, COMMITMENT TO INDIVIDUAL ATTENTION AND GROUNDING IN THE LIBERAL ARTS, EDUCATES A DIVERSE COMMUNITY OF LEARNERS IN UNDERGRADUATE, GRADUATE AND PROFESSIONAL PROGRAMS TO EXCEL INTELLECTUALLY, LEAD ETHICALLY, SERVE COMPASSIONATELY AND PROMOTE JUSTICE IN OUR EVER-CHANGING URBAN AND GLOBAL ENVIRONMENT. false false 75058162 46489270 85029846 INSTRUCTION AND ACADEMIC SUPPORT - THE UNIVERSITY PROVIDES ACCREDITED COURSES AND OTHER RELATED SERVICES TO APPROXIMATELY 3,600 STUDENTS, INCLUDING BOTH DAY AND EVENING SESSIONS, FOR FULL-TIME OR PART-TIME UNDERGRADUATE (60 PROGRAMS) AND SEVERAL GRADUATE STUDY PROGRAMS. FINANCIAL AID IS AWARDED TO STUDENTS FROM INSTITUTIONAL SOURCES BASED ON ACADEMIC ACHIEVEMENT, ATHLETIC ABILITY AND NEED. 28872173 8956579 STUDENT SERVICES - INCLUDES ENROLLMENT SERVICES, REGISTRAR, HEALTH AND COUNSELING PROGRAMS, FINANCIAL AID, CAMPUS MINISTRY, STUDENT CLUBS AND ORGANIZATIONS, INTERCOLLEGIATE AND INTRAMURAL SPORTS AND ACTIVITIES, AND STUDENT HOUSING. SPONSORED PROGRAMS - INCLUDES VARIOUS PRIVATE PROGRAMS FOR THE BENEFIT OF THE STUDENT BODY, SUCH AS ACADEMIC ENRICHMENT, ACADEMIC CHAIRS, CAPITAL CAMPAIGN, AND VARIOUS ENDOWED SCHOLARSHIPS. 103930335 true true false false false false false true true true true false false false true true false true true false false false false true true false false false true true true false false false false false false false false false false true false false false false true true true false false true 173 0 true 1037 true true true false false false false true true false false false false false false X 32 31 false false false false false false false true false false false false true true true true true true true false FL NJ NY X PAUL CIRAULO 2017617428 2641 KENNEDY BOULEVARD JERSEY CITY NJ 073065943 X EUGENE J CORNACCHIA PHD EX-OFFICIO TRUSTEE - PRESIDENT 55.0 0.0 X X 347436 0 114046 SHAHEEN HOLLOWAY MENS BASKETBALL COACH 55.0 0.0 X 278223 0 33323 FREDERICK P BONATO PROVOST/ACADEMIC VP 55.0 0.0 X 202920 0 21999 ELIZABETH SULLIVAN VP ENROLLMENT MGMT & MKTG 55.0 0.0 X 180500 0 4881 LEAH M LETO ED VP ADVANCEMENT 55.0 0.0 X 154517 0 30188 MARYELLEN HAMILTON PROFESSOR OF PSYCHOLOGY 55.0 0.0 X 160191 0 23193 PAUL CIRAULO VP - FINANCE & BUSINESS 55.0 0.0 X 170000 0 1786 ANDREA BUBKA PROFESSOR OF PSYCHOLOGY 55.0 0.0 X 147794 0 14348 LEONARD J SCIORRA SCHUH PROFESSOR 55.0 0.0 X 150937 0 3543 MARY KATE NAATUS DEAN, SCHOOL OF BUSINESS 55.0 0.0 X 149134 0 4062 ERIN MCCANN VP STUDENT LIFE & DEVELOPMENT 55.0 0.0 X 137966 0 13687 VIRGINIA BENDER PHD SEC/SPEC ASST TO PRESIDENT 55.0 0.0 X 146771 0 3993 FRANK L FEKETE CPA CHAIR - TRUSTEE 1.0 0.0 X X 0 0 0 KEVIN J DOWNES VICE CHAIR - TRUSTEE 1.0 0.0 X X 0 0 0 CAROL B BASTEK EDD TRUSTEE 1.0 0.0 X 0 0 0 NOREEN D HEATH-BEAMAN CPA TRUSTEE 1.0 0.0 X 0 0 0 KENNETH BOLLER SJ TRUSTEE 1.0 0.0 X 0 0 0 CLAUDIO M BURGALETA SJPHD TRUSTEE 1.0 0.0 X 0 0 0 JAMES M CONTI TRUSTEE 1.0 0.0 X 0 0 0 JOSEPH COSTANTINO SJ TRUSTEE 1.0 0.0 X 0 0 0 JULIA M DIGIOIA MD FACS TRUSTEE 1.0 0.0 X 0 0 0 MARYBETH DUONG TRUSTEE - ALUMNAE REP 1.0 0.0 X 0 0 0 EUGENE FLINN TRUSTEE 1.0 0.0 X 0 0 0 MICHAEL A GOMEZ EDD TRUSTEE 1.0 0.0 X 0 0 0 JOESPH R GROMEK TRUSTEE 1.0 0.0 X 0 0 0 CHARLES M LIZZA ESQ TRUSTEE 1.0 0.0 X 0 0 0 THOMAS P MAC MAHON TRUSTEE 1.0 0.0 X 0 0 0 GEORGE E MARTIN PHD TRUSTEE 1.0 0.0 X 0 0 0 KATHLEEN M MCKENNA ESQ TRUSTEE 1.0 0.0 X 0 0 0 NIURKA NIKKI E MEDEROS TRUSTEE 1.0 0.0 X 0 0 0 KENNETH MOORE TRUSTEE 1.0 0.0 X 0 0 0 JOSEPH A PANEPINTO ESQ TRUSTEE 1.0 0.0 X 0 0 0 SHARON A PASTORE TRUSTEE 1.0 0.0 X 0 0 0 MAUREEN LEMKE PERGOLA TRUSTEE 1.0 0.0 X 0 0 0 WILLIAM T PRICE TRUSTEE 1.0 0.0 X 0 0 0 J PAUL SCHAETZLE TRUSTEE 1.0 0.0 X 0 0 0 CHRISTINA SHEA TRUSTEE 1.0 0.0 X 0 0 0 ROBERT L TORTORIELLO ESQ TRUSTEE 1.0 0.0 X 0 0 0 JOAN BALMER TULLY TRUSTEE 1.0 0.0 X 0 0 0 TONI ANN TURCO TRUSTEE 1.0 0.0 X 0 0 0 JOHN B WILSON TRUSTEE 1.0 0.0 X 0 0 0 ELNARDO WEBSTER EDD TRUSTEE 1.0 0.0 X 0 0 0 RAYMOND A YANNUZZI DA TRUSTEE 1.0 0.0 X 0 0 0 FATHER ANDREW DOWNING VP MISSION & MINISTRY (SCH. O) 55.0 0.0 X 0 0 0 FATHER JOHN HYATT PAROCHIAL VICAR (SCH. O) 55.0 0.0 X 0 0 0 2226389 0 269049 53 false true false GILBANE BUILDING COMPANY 7 JACKSON WALKWAY PROVIDENCE RI 02903 CONSTRUCTION 4162505 SODEXO INC PO BOX 905374 CHARLOTTE NC 282905374 FOOD SERVICES 2714836 ARAMARK PO BOX 7548 PHILADELPHIA PA 19101 FACILITIES MGMT 2166601 ALLIED UNIVERSAL PO BOX 828854 PHILADELPHIA PA 191828854 FACILITY SERVICES 1931033 MALIC CORP PO BOX 341 ALLENDALE NJ 07401 CONSTRUCTION 1434167 38 548220 17450109 8229984 739197 26228313 TUITION AND FEES 900099 85029846 85029846 AUXILIARY ENTERPRISES 900099 7079125 7079125 OTHER PROGRAMS RELATED REVENUES 900099 1890767 1890767 93999738 1089718 1089718 0 0 243346 196887 46459 0 46459 30663 15796 28483894 21301855 7182039 7182039 7182039 49975 548220 121396 -71421 -71421 0 0 0 0 0 0 0 128474846 93999738 30663 8216132 0 46489270 46489270 0 0 1810398 1388399 421999 0 27379981 22097018 4541109 741854 903554 631699 240189 31666 3731091 3462256 200320 68515 2023860 1515225 428772 79863 0 348192 1980 346212 546264 546264 0 0 214621 214621 3357487 2517770 532921 306796 3205501 3024577 76900 104024 2572254 1468451 887564 216239 463304 353779 97344 12181 0 13379296 8889481 4483380 6435 840644 741255 81953 17436 0 1542978 1221010 122981 198987 1791155 1516167 274988 0 5413448 4657502 755946 923540 247796 675744 MEAL PLANS 3846332 3846332 BAD DEBT 550000 550000 DATABASES, PERIODICALS, ETC. 365573 141965 221224 2384 ATHLETICS 358328 358328 936441 748474 186219 1748 122993512 103930335 16853050 2210127 4793461 6301695 1983443 887404 13391553 12525603 3701176 4051294 0 0 0 0 0 0 0 0 762806 1133922 185511990 96686316 92828637 88825674 43805694 35729828 353166 249099 0 0 654073 621993 2202045 5930048 164476054 156256560 7720418 7764204 50643 0 2560882 4802384 19154371 16609633 3870 3870 0 0 25217971 26657075 0 0 11049946 9764197 65758101 65601363 X 30781008 33276964 67936945 57378233 98717953 90655197 164476054 156256560 X 5481334 -13328208 -215882 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X false true 3870 3870 true X 40941198 1416062 -4998328 1509408 35849524 34738402 1131835 7858322 2787361 40941198 35659030 431794 676016 2028438 34738402 34385256 517243 2399363 1642832 35659030 32042227 1768657 2029724 1455352 34385256 0.05530 0.84650 0.09820 false false 7958279 7958279 144783360 69754647 75028713 2724899 1624599 1100300 26393269 24312592 2080677 3652183 994478 2657705 88825674 0 ANNUITY PAYMENT OBLIGATIONS 1097794 ASSET RETIREMENT OBLIGATIONS 658375 INTEREST RATE SWAP AGREEMENT 611031 OBLIGATIONS 6654671 CAPITAL LEASE OBLIGATIONS 742326 9764197 X SCHEDULE D, PART III; QUESTION 4 SAINT PETER'S UNIVERSITY COLLECTIONS INCLUDE ART WORKS, PAINTINGS, SCULPTURES, POSTERS, DOCUMENTS AND OTHER ARTIFACTS, AND ARE ALL EMPLOYED IN THE EDUCATION OF STUDENTS ON THE WORLD'S RICH HISTORICAL AND CULTURAL TRADITIONS. SCHEDULE D, PART IV THIS AMOUNT REPRESENTS TENANT RENT SECURITY DEPOSITS HELD IN ESCROW. SCHEDULE D, PART V SAINT PETER'S UNIVERSITY ENDOWMENT CONSISTS OF APPROXIMATELY 195 INDIVIDUAL FUNDS ESTABLISHED MAINLY FOR SCHOLARSHIPS. ITS ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. AS REQUIRED BY ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE UNIVERSITY'S ENDOWMENT FUNDS ARE USED TO FURTHER ITS EXEMPT PURPOSES BY PROVIDING SCHOLARSHIPS, CONSTRUCTING FACILITIES AND FUNDING THE GENERAL ACTIVITIES AND OPERATIONS OF THE UNIVERSITY. SCHEDULE D, PART X AN INDEPENDENT CPA FIRM AUDITED THE CONSOLIDATED FINANCIAL STATEMENTS OF SAINT PETER'S UNIVERSITY AND AFFILIATES FOR THE YEARS ENDED JUNE 30, 2022 AND JUNE 30, 2021; RESPECTIVELY AN UNMODIFIED OPINION WAS ISSUED BY AN INDEPENDENT CPA FIRM EACH YEAR. THE FOLLOWING IS THE TEXT OF THE FOOTNOTE IN THE ORGANIZATION'S FISCAL YEAR ENDED JUNE 30, 2022 CONSOLIDATED FINANCIAL STATEMENTS THAT REPORTS THE UNIVERSITY'S LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER FIN 48 (ASC 740): Saint Peter's is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code and a similar provision under state laws. Ignatius Hall is exempt from income taxes under Section 501(c)(3) through a group exemption through the Archdiocese of Newark. Revenue from unrelated activities is subject to unrelated business income tax. Saint Peter's had no taxes due for the years ended June 30, 2022 and 2021. Accordingly, no provision for income taxes has been reflected in the accompanying consolidated financial statements. SPU Events Company and SPJC Management are C corporations for federal and state income tax purposes. No provision for income taxes was required for the years ended June 30, 2022 and 2021. The University has no unrecognized tax benefits at June 30, 2022 and 2021 and incurred no interest and penalties for the years ended June 30, 2022 and 2021. true true true true true true true false false false false false false false false true false true SCHEDULE E, PART I, QUESTION 3 SAINT PETER'S UNIVERSITY ("UNIVERSITY") RACIALLY NONDISCRIMINATORY POLICY IS DESCRIBED IN ALL LITERATURE PUBLISHED FOR GENERAL DISTRIBUTION, WITHIN THE STUDENT HANDBOOK AND ON THE UNIVERSITY'S WEBSITE. SCHEDULE E, PART I, QUESTION 6A SAINT PETER'S UNIVERSITY ("UNIVERSITY") PARTICIPATES IN VARIOUS FEDERAL AND STATE FINANCIAL AID PROGRAMS FOR THE BENEFIT OF STUDENTS WHO ATTEND THE UNIVERSITY. THESE PROGRAMS HAVE STRICT REQUIREMENTS FOR PARTICIPATION AND THE UNIVERSITY IS SUBJECT TO GOVERNMENT PROGRAM REVIEWS COVERING COMPLIANCE WITH LAWS AND REGULATIONS. SPECIFIC AREAS OF REVIEW INCLUDE STUDENT PROGRAM ELIGIBILITY, COORDINATION OF FINANCIAL AID PROGRAMS AND OTHER MATTERS. X X X X X X X true COMMUNITY COUNSELING SERVICE COMPAN STRATEGIC ADVICE false 110133 RUFFALO NOEL LEVITZ TELEMRKTING false 461215 134947 THANKVIEW LLC 26 BROADWAY FL 3 NEW YORK NY 10004 ONLINE SOLICITATIO false 10980 461215 256060 AK CO CT DE DC KY MD MA MT NH OH SC WA H&M 540750 502785 37965 28350 1500 64310 PAGO 57445 45435 12010 21180 5876 0 598195 548220 49975 49530 1500 70186 121216 -71241 true SCHOLARSHIPS 1944 40204326 FMV financial assistance CARES HEERF STUDENT RELIEF GRANTS 3263 5486514 RESIDENT ASSISTANTS AND HOUSING DISCOUNTS 798430 COST HOUSING ASSISTANCE SCHEDULE I, PART I; QUESTION 2 SAINT PETER'S UNIVERSITY ("UNIVERSITY") PROVIDES SCHOLARSHIPS TO STUDENTS MATRICULATING AT THE UNIVERSITY FOR VARIOUS REASONS INCLUDING, BUT NOT LIMITED TO, ACADEMIC PERFORMANCE, STUDENT INSTITUTIONAL AID AND ATHLETICS. THEREFORE, ALL FUNDS GRANTED ARE USED TO DEFRAY THE COST OF TUITION AND NO FURTHER MONITORING OF THE GRANTS IS REQUIRED. X true true X X X X X false true false false false false false true false EUGENE J CORNACCHIA PHD EX-OFFICIO TRUSTEE - PRESIDENT 347436 0 0 0 0 0 29500 0 84546 0 461482 0 0 0 SHAHEEN HOLLOWAY MENS BASKETBALL COACH 169623 0 108600 0 0 0 5536 0 27787 0 311546 0 0 0 FREDERICK P BONATO PROVOST/ACADEMIC VP 202920 0 0 0 0 0 5483 0 16516 0 224919 0 0 0 ELIZABETH SULLIVAN VP ENROLLMENT MGMT & MKTG 180500 0 0 0 0 0 4750 0 131 0 185381 0 0 0 LEAH M LETO ED VP ADVANCEMENT 149517 0 0 0 5000 0 3859 0 26329 0 184705 0 0 0 MARYELLEN HAMILTON PROFESSOR OF PSYCHOLOGY 95955 0 0 0 64236 0 2748 0 20445 0 183384 0 0 0 PAUL CIRAULO VP - FINANCE & BUSINESS 170000 0 0 0 0 0 1700 0 86 0 171786 0 0 0 ANDREA BUBKA PROFESSOR OF PSYCHOLOGY 111390 0 0 0 36404 0 2936 0 11412 0 162142 0 0 0 LEONARD J SCIORRA SCHUH PROFESSOR 135632 0 0 0 15305 0 3478 0 65 0 154480 0 0 0 MARY KATE NAATUS DEAN, SCHOOL OF BUSINESS 149134 0 0 0 0 0 3944 0 118 0 153196 0 0 0 ERIN MCCANN VP STUDENT LIFE & DEVELOPMENT 137966 0 0 0 0 0 2275 0 11412 0 151653 0 0 0 VIRGINIA BENDER PHD SEC/SPEC ASST TO PRESIDENT 146771 0 0 0 0 0 3862 0 131 0 150764 0 0 0 PART VII AND SCHEDULE J IN ACCORDANCE WITH FORM 990 RULES, REGULATIONS, AND INSTRUCTIONS FOR TAXPAYERS WITH A FISCAL YEAR-END, TAXABLE COMPENSATION REPORTED HEREIN IS DERIVED FROM 2021 FORMS W-2. SCHEDULE J, PART I; QUESTION 1 THE PRESIDENT, EUGENE J. CORNACCHIA, PH.D., RESIDES IN A UNIVERSITY-OWNED PROPERTY AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE UNIVERSITY. THE FAIR MARKET VALUE OF THE UNIVERSITY-OWNED PROPERTY AMOUNTED TO APPROXIMATELY $69,687 IN 2021 AND WAS NOT INCLUDED AS TAXABLE WAGES ON THE PRESIDENT'S 2021 FORM W-2. HOUSING ON THE SCHOOL CAMPUS IS PROVIDED TO MR. CORNACCHIA, AS REQUIRED BY THE TERMS OF HIS EMPLOYMENT FOR THE CONVENIENCE OF THE SCHOOL AND IS TREATED AS NON-TAXABLE UNDER SECTION 119 OF THE INTERNAL REVENUE CODE. SCHEDULE J, PART I; QUESTION 4B EUGENE J. CORNACCHIA, PH.D., PRESIDENT, PARTICIPATED IN AN INTERNAL REVENUE CODE SECTION 457(b) NON-QUALIFIED DEFERRED COMPENSATION PLAN. SCHEDULE J, PART I; QUESTION 7 CERTAIN INDIVIDUALS INCLUDED IN SCHEDULE J, PART II RECEIVED A BONUS DURING CALENDAR YEAR 2021 WHICH AMOUNTS WERE INCLUDED IN COLUMN B(II) HEREIN AND IN EACH INDIVIDUAL'S 2021 FORM W-2, BOX 5, AS TAXABLE MEDICARE WAGES. PLEASE REFER TO THIS SECTION OF THE FORM 990, SCHEDULE J FOR THIS INFORMATION BY PERSON BY AMOUNT. A NJ EDUCATIONAL FACILITIES AUTHORITY 221829511 2007-12-29 36053466 REFINANCE/EXTINGUISH DEBT false false false B NJ EDUCATIONAL FACILITIES AUTHORITY 221829511 2016-07-26 1372934 REFINANCE SERIES 2000B false false false C NJ EDUCATIONAL FACILITIES AUTHORITY 221829511 2016-12-20 1008102 RENOVATION OF POPE HALL false false false A 14991748 0 36053466 0 0 0 840367 0 0 0 3268298 0 2007 true true true true B 926857 0 1372934 0 0 0 3196 0 0 0 1369738 0 2016 true false true true C 813471 0 1008102 0 0 0 8103 0 0 1000000 0 0 2017 false false true true A false false false false 0 false false false true B false false false false 0 false false false true C false false false false 0 false false false true A true true true CAPITAL ONE BANK 20. true false false 0 true B true true false 0 false 0 false true C true true false 0 false 0 false true A true B true C true X 17 739197 stock quote false true false PART VI, SECTION A, LINE 8 - DOCUMENTATION OF MEETINGS The organization's Board of Trustees has several committees that meet on a regular basis. Although there is no formal contemporaneous documentation for these meetings at the committee level, each committee reports directly to the organization's Board of Trustees wherein all discussions at the committee levels are documented in written meeting minutes of the full Board of Trustees. PART VI, SECTION B, LINE 11B - PROCESS USED TO REVIEW FORM 990 THE SAINT PETER'S UNIVERSITY ("UNIVERSITY") FEDERAL FORM 990 WAS PROVIDED TO EACH VOTING MEMBER OF ITS GOVERNING BODY, ITS BOARD OF TRUSTEES, PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE ("IRS"). HOWEVER THE VERSION PROVIDED WAS NOT A COMPLETE COPY BECAUSE NAMES AND ADDRESSES OF CONTRIBUTORS ON SCHEDULE B WERE REDACTED TO PROTECT THE PRIVACY OF THE UNIVERSITY'S DONORS, WHICH INCLUDES BOARD MEMBERS.IN ADDITION, THE UNIVERSITY'S AUDIT COMMITTEE PERFORMED A DETAILED REVIEW OF THE FEDERAL FORM 990. THE UNIVERSITY'S BOARD OF TRUSTEES HAS DELEGATED TO THE AUDIT COMMITTEE THE RESPONSIBILITY TO OVERSEE AND COORDINATE THE FEDERAL FORM 990 PREPARATION, REVIEW AND FILING PROCESS FOR THE UNIVERSITY AND ITS AFFILIATE. AS PART OF THE TAX RETURN PREPARATION PROCESS, THE UNIVERSITY HIRED A PROFESSIONAL CPA FIRM WITH EXPERIENCE AND EXPERTISE IN BOTH EDUCATION AND NOT-FOR-PROFIT TAX RETURN PREPARATION TO PREPARE THE FEDERAL FORM 990. THE CPA FIRM'S TAX PROFESSIONALS WORKED CLOSELY WITH THE UNIVERSITY'S FINANCE PERSONNEL INCLUDING, BUT NOT LIMITED TO, THE VICE PRESIDENT OF FINANCE AND BUSINESS AND CONTROLLER ("INTERNAL WORKING GROUP") TO OBTAIN THE INFORMATION NEEDED IN ORDER TO PREPARE A COMPLETE AND ACCURATE TAX RETURN. THE CPA FIRM PREPARED A DRAFT FEDERAL FORM 990 AND FURNISHED IT TO THE UNIVERSITY'S INTERNAL WORKING GROUP FOR REVIEW. THE INTERNAL WORKING GROUP REVIEWED THE DRAFT FEDERAL FORM 990 AND DISCUSSED QUESTIONS AND COMMENTS WITH THE CPA FIRM. REVISIONS WERE MADE TO THE DRAFT FEDERAL FORM 990 WHERE NECESSARY AND A FINAL DRAFT WAS FURNISHED BY THE CPA FIRM TO THE UNIVERSITY'S INTERNAL WORKING GROUP FOR FINAL REVIEW AND APPROVAL. FOLLOWING THE FINALIZATION OF THE REVIEW AND APPROVAL OF THE FORM 990 BY THE INTERNAL WORKING GROUP, THE UNIVERSITY'S AUDIT COMMITTEE PERFORMED A DETAILED REVIEW WHICH WAS PRESENTED AND DISCUSSED AT A SPECIAL MEETING HELD ON MAY 10, 2023. IN CONJUNCTION WITH THE AUDIT COMMITTEE MEETING WHEREIN THE FORM 990 WAS PRESENTED AND DISCUSSED, THE FORM 990 WAS PROVIDED TO EACH VOTING MEMBER OF ITS GOVERNING BODY AND APPROVED FOR FILING WITH THE INTERNAL REVENUE SERVICE. PART VI, SECTION B, LINE 12 - CONFLICT OF INTEREST POLICY SAINT PETER'S UNIVERSITY ("UNIVERSITY") REGULARLY MONITORS AND ENFORCES COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY. ANNUALLY ALL MEMBERS OF THE BOARD OF TRUSTEES, DIRECTORS, OFFICERS AND MEMBERS OF SENIOR MANAGEMENT ARE REQUIRED TO REVIEW THE EXISTING CONFLICT OF INTEREST POLICY AND COMPLETE A QUESTIONNAIRE. THE COMPLETED QUESTIONNAIRES ARE RETURNED TO THE ORGANIZATION'S SECRETARY OF THE BOARD FOR REVIEW. THEREAFTER, THE ORGANIZATION'S SECRETARY OF THE BOARD PREPARES A SUMMARY OF THE COMPLETED QUESTIONNAIRES WHICH CONTAINS INFORMATION DISCLOSED ON AN INDIVIDUAL-BY-INDIVIDUAL BASIS. IF APPLICABLE, THE SECRETARY TO THE BOARD PRESENTS THIS SUMMARY TO THE UNIVERSITY'S EXECUTIVE COMMITTEE FOR ITS REVIEW, DISCUSSION, INVESTIGATION AND IMPLEMENTATION OF ANY NECESSARY MITIGATING BEHAVIOR. PART VI, SECTION B, LINE 15 - DETERMINATION OF COMPENSATION THE SAINT PETER'S UNIVERSITY ("UNIVERSITY") BOARD OF TRUSTEES HAS AN EXECUTIVE COMPENSATION COMMITTEE ("COMMITTEE"). THE COMMITTEE REVIEWS THE "TOTAL COMPENSATION" OF THE UNIVERSITY'S PRESIDENT WHICH IS INTENDED TO INCLUDE BOTH CURRENT AND DEFERRED COMPENSATION AND ALL EMPLOYEE BENEFITS, BOTH QUALIFIED AND NON-QUALIFIED. THE COMMITTEE'S REVIEW IS DONE ON A CONTRACT RENEWAL BASIS WITH PERFORMANCE BONUSES REVIEWED AND APPROVED ANNUALLY. THE COMMITTEE ENSURES THAT THE "TOTAL COMPENSATION" OF THE PRESIDENT OF THE UNIVERSITY IS REASONABLE. THE COMMITTEE OBTAINS AND RELIES UPON "APPROPRIATE DATA AS TO COMPARABILITY" PRIOR TO MAKING ITS DETERMINATION. THE COMMITTEE IS COMPRISED OF MEMBERS OF THE BOARD OF TRUSTEES, EACH OF WHOM ARE INDEPENDENT AND ARE FREE FROM ANY CONFLICTS OF INTEREST. Although there is no formal contemporaneous documentation for the executive compensation committee meetings at the committee level, this committee reports directly to the organization's Board of Trustees wherein all discussions at the committee level are documented in written meeting minutes of the full Board of Trustees. THE COMPENSATION AND BENEFITS OF OTHER EXECUTIVES REPORTED IN CORE FORM, PART VII AND SCHEDULE J OF THIS FORM 990 ARE REVIEWED ANNUALLY BY THE PRESIDENT WITH ASSISTANCE FROM THE UNIVERSITY'S HUMAN RESOURCES DEPARTMENT IN CONJUNCTION WITH THE INDIVIDUAL'S JOB PERFORMANCE DURING THE YEAR AND IS BASED UPON OTHER OBJECTIVE FACTORS DESIGNED TO ENSURE THAT REASONABLE AND FAIR MARKET VALUE COMPENSATION IS PAID BY THE UNIVERSITY. OTHER OBJECTIVE FACTORS INCLUDE MARKET SURVEY DATA FOR COMPARABLE POSITIONS, INDIVIDUAL GOALS AND OBJECTIVES, PERSONNEL REVIEWS, EVALUATIONS, SELF-EVALUATIONS AND PERFORMANCE FEEDBACK MEETINGS. PART VI, SECTION C, LINE 19 - AVAILABILITY OF GOVERNING DOCUMENTS THE SAINT PETER'S UNIVERSITY ("UNIVERSITY") FILED CERTIFICATE OF INCORPORATION AND ANY AMENDMENTS CAN BE OBTAINED AND REVIEWED THROUGH THE STATE OF NEW JERSEY DEPARTMENT OF THE TREASURY. THE UNIVERSITY'S FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST AND AT MANAGEMENT'S DISCRETION. PART VII AND SCHEDULE J CORE FORM, PART VII AND SCHEDULE J REFLECT CERTAIN BOARD MEMBERS RECEIVING COMPENSATION AND BENEFITS FROM THIS ORGANIZATION. PLEASE NOTE THIS REMUNERATION WAS FOR SERVICES RENDERED AS FULL-TIME EMPLOYEES OF THIS ORGANIZATION AND NOT FOR SERVICES RENDERED AS A VOTING MEMBER OF THIS ORGANIZATION'S BOARD OF TRUSTEES. PART VII, SECTION A, COLUMN B - AVERAGE HOURS PER WEEK CERTAIN BOARD OF TRUSTEE MEMBERS OR OFFICERS LISTED ON CORE FORM, PART VII AND SCHEDULE J OF THIS FORM 990 MAY HOLD SIMILAR POSITIONS WITH BOTH SAINT PETER'S UNIVERSITY ("UNIVERSITY") AND ITS AFFILIATE. THE HOURS SHOWN ON THIS FORM 990, FOR BOARD MEMBERS WHO RECEIVE NO COMPENSATION FOR SERVICES RENDERED IN A NON-BOARD CAPACITY, REPRESENT THE ESTIMATED HOURS DEVOTED PER WEEK TO THE UNIVERSITY. TO THE EXTENT THESE INDIVIDUALS SERVE AS A MEMBER OF THE BOARD OF TRUSTEES OF THE UNIVERSITY'S AFFILIATE, THEIR RESPECTIVE HOURS PER WEEK ARE APPROXIMATELY THE SAME AS REFLECTED IN PART VII OF THIS FORM 990. THE HOURS REFLECTED ON PART VII OF THIS FORM 990, FOR BOARD MEMBERS WHO RECEIVE COMPENSATION FOR SERVICES RENDERED IN A NON-BOARD CAPACITY AND PAID OFFICERS, REFLECT TOTAL HOURS WORKED PER WEEK ON BEHALF OF THE BOTH THE UNIVERSITY AND ITS AFFILIATE; NOT SOLELY THE UNIVERSITY. PART XI, LINE 9 - OTHER CHANGES IN NET ASSETS OTHER CHANGES IN NET ASSETS OR FUND BALANCES INCLUDE: -CHANGE IN PENSION OTHER THAN NET PERIODIC PENSION COST $(1,607,237) -CHANGE IN FAIR VALUE OF SPLIT-INTEREST AGREEMENTS 219,160 -CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENTS 1,172,195 -------------- $ (215,882) PART XII, LINE 2 - AUDIT COMMITTEE OVERSIGHT AN INDEPENDENT CPA FIRM AUDITED THE CONSOLIDATED FINANCIAL STATEMENTS OF SAINT PETER'S UNIVERSITY ("UNIVERSITY") AND AFFILIATES FOR THE YEARS ENDED JUNE 30, 2022 AND JUNE 30, 2021, RESPECTIVELY. AN UNMODIFIED OPINION WAS ISSUED BY THE INDEPENDENT CPA FIRM EACH YEAR. THE UNIVERSITY'S AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE UNIVERSITY'S CONSOLIDATED FINANCIAL STATEMENTS AND THE SELECTION OF ITS INDEPENDENT AUDITOR. 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