2025-05-15T08:06:16-05:00 2024-06-30 340677006 MALONEY NOVOTNY LLC 1111 SUPERIOR AVE SUITE 700 CLEVELAND OH 441142540 990 2023-07-01 340714689 NOTRE DAME COLLEGE NOTR 2163811680 PO BOX 21310 SOUTH EUCLID OH 44121 SAMUEL STEINHOUSE CHIEF LIQUIDATION OFFICER 2166725560 2025-05-15 1 0 CHRISTOPHER B ANDERSON P00226559 2163630100 2023 2025-03-06 01:10:19Z X SAMUEL STEINHOUSE PO BOX 21310 SOUTH EUCLID OH 44121 39247519 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. X 3 3 689 5 0 0 3411413 1657983 39544584 36789307 387016 630143 351287 170086 43694300 39247519 19392108 19392868 0 0 12688407 9804064 0 0 721609 15260722 14533915 47341237 43730847 -3646937 -4483328 37248624 4122607 18433597 4122607 18815027 0 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 37691131 19392868 36928060 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. 37691131 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1764 0 1 689 1 0 0 0 0 0 0 0 0 0 0 0 0 X 3 3 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 X NOTRE DAME COLLEGE 2166725560 PO BOX 21310 SOUTH EUCLID OH 44121 TERRI EASON BOARD 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 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 CORY JENKINS 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 309061 0 23311 ELIZABETH FREY TRUSTEE 1.00 X 0 0 0 JENNIFER MILVOSKY-ALVAREZ TRUSTEE 1.00 X 0 0 0 JOE RUDOLPH TRUSTEE 1.00 X 0 0 0 FAREED SIDDIQ TRUSTEE 1.00 X 0 0 0 JOHN SMETANKA INTERIM PRESIDENT & PROVOST 40.00 X X 150337 0 23311 JENNIFER ERBS VP-FINANCE & CFO 40.00 X 92870 0 5062 SAMUEL STEINHOUSE CHIEF LIQUIDATION OFFICER 20.00 X 0 0 0 552268 0 51684 2 0 1 0 0 1657983 1657983 TUITION AND FEES 900099 29966588 29966588 AUXILIARY OPERATIONS 900099 6822719 6822719 36789307 363208 363208 31333 0 31333 31333 31333 266935 0 266935 266935 266935 MISC INCOME 900099 138753 138753 138753 39247519 36928060 0 661476 19392868 19392868 552268 419724 115976 16568 7464344 5598258 1642156 223930 38386 35316 1535 1535 1166234 1072936 46649 46649 582832 536206 23313 23313 261065 261065 53800 31204 19368 3228 119702 92171 17955 9576 3113 3113 545112 370676 141729 32707 1099042 1088052 10990 797406 781458 11961 3987 43630 10471 20506 12653 694833 694833 1423083 1010389 370002 42692 586527 434030 146632 5865 CONTRACT SERVICES 4981767 2889424 1793437 298906 ATHLETIC EXPENSES 842235 842235 REVENUE SHARE 804055 804055 PROGRAM EXPENSES 674376 674376 1604169 1604169 43730847 37691131 5318107 721609 397383 0 51150 0 591735 0 2775713 0 323795 0 0 0 23328923 0 9293948 4122607 485977 0 37248624 4122607 1836488 0 424233 0 14425322 4122607 31556 0 1715998 0 18433597 4122607 X 8801223 0 10013804 0 18815027 0 37248624 4122607 X -4483328 -14331699 X X 0 0 1 1 X 6201110 6514084 6262505 3411413 1657983 24047095 6201110 6514084 6262505 3411413 1657983 24047095 480754 23566341 340072 224142 407980 639435 394541 2006170 345451 366310 328354 57148 138753 1236016 27289281 197739503 0.86360 0.87440 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: SPEV EVENT REVENUE - 2019 AMOUNT: $ 34,156. 2020 AMOUNT: $ 11,671. 2021 AMOUNT: $ 42,623. 2022 AMOUNT: $ 17,275. 2023 AMOUNT: $ 0. OTHER INCOME - 2019 AMOUNT: $ 311,295. 2020 AMOUNT: $ 354,639. 2021 AMOUNT: $ 285,731. 2022 AMOUNT: $ 39,873. 2023 AMOUNT: $ 138,753. 9293948 9293948 9241315 155005 775628 878000 9293948 13516953 223720 -1844358 2655000 9241315 10567010 271640 3153303 475000 13516953 10628189 291049 70772 423000 10567010 0.00000 0.00000 0.00000 0 0 0 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 V, LINE 1E, CURRENT YEAR COLUMN: DUE TO THE CLOSURE OF THE COLLEGE, THE ENDOWMENT ASSETS WERE EITHER TRANSFERRED TO OTHER EDUCATIONAL INSTITUTIONS THAT ACCEPTED THE RESTRICTIONS ON THE ASSETS OR THE COURT LIFTED RESTRICTIONS AND ALLOWED THE FUNDS TO BE USED TO PAY REMAINING LIABILITIES OF THE COLLEGE. 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 RECEIVED 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, AND THE DIRECT LOAN PROGRAM. 1 SCHOLARSHIPS 900 19392868 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. THE COUNT OF RECIPIENTS IN PART III, COLUMN B IS AN APPROXIMATION. THE EXACT COUNT WAS UNAVAILABLE DUE TO THE CLOSURE OF THE COLLEGE AND THE SHUTDOWN OF COMPUTER SYSTEMS TO PROVIDE THAT INFORMATION. X X 1 1 X X 0 0 0 0 0 0 0 0 0 J MICHAEL PRESSIMONE COLLEGE PRESIDENT 309061 0 0 0 0 0 0 0 23311 0 332372 0 0 0 JOHN SMETANKA INTERIM PRESIDENT & PROVOST 150337 0 0 0 0 0 0 0 23311 0 173648 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. CASH, INVESTMENTS, RECEIVABLES, FIXED ASSETS 2024-06-30 14331669 ASSETS WERE LIQUIDATED TO PROVIDE FUNDS TO PAY CREDITORS NA - SEE PART III 4545 COLLEGE ROAD SOUTH EUCLID OH 44121 0 0 0 0 PART II, LINE 1 - ADDITIONAL INFORMATION ABOUT CONTRACTION: AS NOTED ON SCHEDULE O, NOTRE DAME COLLEGE WAS CLOSED ON MAY 2, 2024. A CHIEF LIQUIDATION OFFICER WAS APPOINTED AS A TRUSTEE. THE CHIEF LIQUIDATION OFFICER HAS SOLD OR LIQUIDATED MOST OF THE COLLEGE'S REMAINING ASSETS TO PAY CREDITORS. NOT ALL DEBTS WILL BE PAID IN FULL AS THERE ARE INSUFFICIENT ASSETS TO DO SO. THE CHIEF LIQUIDATION OFFICER IS IN THE PROCESS OF WINDING DOWN THE COLLEGE'S AFFAIRS. BECAUSE THE COLLEGE'S ASSETS DO NOT FULLY SATISFY ALL OUTSTANDING DEBTS, THERE ARE NO NET ASSETS TO DISTRIBUTE TO ONE OR MORE OTHER SECTION 501(C)(3) ORGANIZATIONS. WE HAVE LISTED THE COLLEGE'S ADDRESS IN PART II, LINE 1, COLUMN F SOLELY BECAUSE NOT ENTERING ANY ADDRESS PROHIBITED THE COLLEGE FROM E-FILING THIS FORM 990 AS REQUIRED BY THE IRS. 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 AND OTHER DATA REFLECTED IN THIS FORM 990 WAS OBTAINED FROM COLLEGE SYSTEMS BEFORE THEY WERE SHUT DOWN BY THE CHIEF LIQUIDATION OFFICER'S STAFF. THERE WERE NO EMPLOYEES AT THE COLLEGE TO ASSIST WITH GATHERING THIS 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. ADDITIONALLY, SOME DATA REQUIRED TO BE INCLUDED IN THIS FORM 990 WAS UNAVAILABLE INCLUDING THE FOLLOWING: - SOME BENEFITS INFORMATION REQUIRED TO BE REPORTED IN FORM 990, PART VII AND SCHEDULE J. - DONOR INFORMATION FOR SCHEDULE B. - ENDOWMENT ACTIVITY FOR THE CURRENT FISCAL YEAR FOR SCHEDULE D, PART V. - DETAIL OF FUNDRAISING EVENTS FOR SCHEDULE G. - NON-CASH DONATION INFORMATION FOR SCHEDULE M. 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 - DUE TO THE CLOSURE OF THE COLLEGE (SEE SCHEDULES N AND O FOR DETAILS) THE FINANCIAL STATEMENTS, CONFLICT POLICY AND ORGANIZING DOCUMENTS ARE NOT AVAILABLE TO THE GENERAL PUBLIC. FORM 990, PART XI, LINE 9: ADJUSTMENT DUE TO CLOSURE OF COLLEGE (SEE SCH. N AND O) -14,331,699. FORM 990, PART XII, LINES 3A AND 3B: ALTHOUGH THE COLLEGE DID NOT UNDERGO AN AUDIT OF ITS FINANCIAL STATEMENTS DUE TO THE CLOSURE, THE INDEPENDENT ACCOUNTANTS ISSUED AN EXAMINATION REPORT ON THE COLLEGE'S COMPLIANCE FOR THE STUDENT FINANCIAL ASSISTANCE CLUSTER AND ON INTERNAL CONTROL OVER COMPLIANCE REQUIRED BY THE UNIFORM GUIDANCE FOR THE PERIOD JULY 1, 2023 TO MAY 2, 2024.