2025-05-15T10:05:49-05:00 2024-06-30 410746749 CLIFTONLARSONALLEN LLP TWO INTERNATIONAL PLACE 22ND FLOOR BOSTON MA 02110 990 2023-07-01 231352626 CHESTNUT HILL COLLEGE CHES 2152487163 9601 GERMANTOWN AVENUE PHILADELPHIA PA 19118 BRIAN MCCLOSKEY INTERIM PRESIDENT 2152487163 2025-05-14 1 1 LAURA J KENNEY P00202198 6177170831 2025-05-14 2023 2025-03-06 01:10:19Z BRIAN MCCLOSKEY 9601 GERMANTOWN AVENUE PHILADELPHIA PA 19118 53406087 0 X WWW.CHC.EDU X 1924 PA PRIVATE LIBERAL ARTS COLLEGE SPONSORED BY THE CONGREGATION OF THE SISTERS OF ST. JOSEPH OF PHILA. 30 29 665 34 811706 0 19950239 8366415 42375072 40846219 566024 556804 1337960 1428212 64229295 51197650 18196481 17896921 0 0 17374775 16972150 0 0 959182 18107474 17242829 53678730 52111900 10550565 -914250 90639308 88216633 34608875 31865170 56030433 56351463 X SEE SCHEDULE O.THE MISSION OF CHESTNUT HILL COLLEGE IS TO PROVIDE STUDENTS WITH HOLISTIC EDUCATION IN AN INCLUSIVE CATHOLIC COMMUNITY MARKED BY ACADEMIC EXCELLENCE, SHARED RESPONSIBILITY, PERSONAL AND PROFESSIONAL GROWTH, SERVICE TO ONE ANOTHER AND TO THE GLOBAL COMMUNITY, AND CONCERN FOR THE EARTH. 0 0 28512892 21000 40846219 EDUCATION AND STUDENT SERVICE:CHESTNUT HILL COLLEGE IS COMMITTED TO ACTIVE SERVICE IN PURSUIT OF JUST RELATIONSHIPS, INNOVATIVE THINKING, AND RESPONSIBLE ACTION TOWARD A MORE UNIFIED GLOBAL SOCIETY AND SUSTAINABLE EARTH. THE COLLEGE OFFERS TODAY'S STUDENTS A TRANSFORMATIVE, HOLISTIC EDUCATION GROUND IN EXPERIENTIAL LEARNING AND FOCUSING ON CREATING SOLUTIONS TO REAL-WORLD PROBLEMS. ORGANIZED INTO INTERDISCIPLINARY ACADEMIC CENTERS RATHER THAN TRADITIONAL DEPARTMENTS, STUDENTS ARE UNIQUELY POSITIONED TO BENEFIT FROM NOT ONLY THE FACULTY EXCELLENCE WITHIN THEIR GIVEN PROGRAMS OF STUDY, BUT ALSO DRIVEN TO COLLABORATE ON INTERCONNECTED PROJECTS SPANNING THE BREADTH OF DEPTH OF KNOWLEDGE, EXPERIENCE, AND EXPERTISE OF THE BROADER FACULTY AND LEARNING COMMUNITY. (CONT'D ON SCHEDULE O.)CHESTNUT HILL COLLEGE OFFERS 33 BACCALAUREATE PROGRAMS, INCLUDING BUSINESS, PSYCHOLOGY, AND EXERCISE SCIENCE; A BACHELOR OF SCIENCE DEGREE IN CYBERSECURITY WAS LAUNCHED IN FALL 2018. THE COLLEGE ALSO OFFERS A MASTER'S DEGREE IN SIX FIELDS AND A DOCTORATE DEGREE IN CLINICAL PSYCHOLOGY. IN FALL 2020, THE COLLEGE BEGAN OFFERING A MASTER'S DEGREE IN ORGANIZATIONAL LEADERSHIP. THERE ARE 14 PROGRAMS IN THE ADULT ACCELERATED DEGREE PROGRAM OFFERING ASSOCIATE, BACHELOR OF ARTS AND BACHELOR OF SCIENCE DEGREES. THE GRADUATE SCHOOL OFFERS 11 DEGREE PROGRAMS AND 17 CERTIFICATE PROGRAMS.DURING THE 2023-2024 ACADEMIC YEAR, CHESTNUT HILL COLLEGE ENROLLED 1,111 UNDERGRADUATE STUDENTS AND 489 GRADUATE STUDENTS.CHESTNUT HILL COLLEGE IS ONE OF ONLY ELEVEN COLLEGES/UNIVERSITIES IN THE U.S. OFFERING A MONTESSORI PROGRAM AS PART OF A BACHELOR'S OR MASTER'S DEGREE. CHESTNUT HILL COLLEGE'S PROGRAM IS AN AFFILIATE OF THE AMERICAN MONTESSORI SOCIETY (AMS) AND IS ACCREDITED BY THE MONTESSORI ACCREDITATION COUNCIL FOR TEACHER EDUCATION (MACTE). CHESTNUT HILL COLLEGE WAS RECOGNIZED AS ONE OF THE TOP 10 COLLEGES IN PHILADELPHIA IN 2019.CHESTNUT HILL COLLEGE IS COMMITTED TO IMPROVING THE EFFICIENCY AND EFFECTIVENESS OF ITS PROGRAMS AND SERVICES. IN 2017-2018, THE COLLEGE CONDUCTED AN ACADEMIC PROGRAM REVIEW AND PRIORITIZATION OF ALL ACADEMIC PROGRAMS TO IMPROVE QUALITY AND EFFICIENCY, ASSESS BENCHMARKS, AND IDENTIFY OPPORTUNITIES FOR GROWTH AND IMPROVEMENT. SIXTEEN ACADEMIC DEPARTMENTS WERE CONSOLIDATED UNDER A FACULTY-LED PROCESS INTO SIX ACADEMIC CENTERS. THIS RECONFIGURATION HAS RESULTED IN INCREASED COLLABORATION BETWEEN FACULTY AND A REDUCTION IN ADMINISTRATIVE COSTS. CHESTNUT HILL COLLEGE ALSO ACQUIRED A LEARNING MANAGEMENT SYSTEM IN FY 2018-2019 TO OFFER UNDERGRADUATE COURSES IN A HYBRID/ONLINE FORMAT. ALL COURSES CONVERTED TO CANVAS IN SUMMER 2019. IN ADDITION, CHESTNUT HILL COLLEGE IS UTILIZING SLATE TO IMPROVE THE ENROLLMENT MANAGEMENT EXPERIENCE FOR ITS STUDENTS.ACADEMIC AND STUDENT SUPPORT:FOR NEARLY 100 YEARS, CHESTNUT HILL COLLEGE HAS DEMONSTRATED ITS COMMITMENT TO PROVIDE STUDENTS WITH A TRANSFORMATIVE, HOLISTIC EDUCATION. TO THIS END, THE COLLEGE IMPLEMENTED MULTIPLE DYNAMIC ACADEMIC AND STUDENT SUPPORT PROGRAMS BEGINNING IN 2018-2019, CONTINUING TO ASSIST STUDENTS IN DECLARING A MAJOR, ACCESSING TECHNOLOGY AND TEXTBOOKS TO PROMOTE LEARNING, AND SUPPORTING THOSE EXPERIENCING FOOD INSECURITY.CHESTNUT HILL COLLEGE LAUNCHED ITS ACADEMIC DISCOVERY PROGRAM (ADP) IN 2018-2019 TO ADDRESS A GROWING NUMBER OF UNDECLARED MAJORS. IN THIS VOLUNTARY, TWO-SEMESTER PROGRAM, STUDENTS MEET WITH A DEDICATED STUDENT SUCCESS ADVISOR, TAKE TWO COURSES FOCUSED ON ACADEMIC AND CAREER DISCOVERY, DEVELOP A CAREER PLAN, AND OUTLINE A PATH FOR DEGREE COMPLETION WITHIN FOUR YEARS.THE COLLEGE ALSO LAUNCHED A LENDING LIBRARY IN FALL 2018 TO SUPPORT THE INCREASING NUMBER OF UNDERGRADUATE STUDENTS UNABLE TO AFFORD TEXTBOOKS AND COMPUTERS. THIS LIBRARY PROVIDES TEXTBOOKS TO STUDENTS ENROLLED IN GATEWAY COURSES, INCLUDING MATH, ENGLISH, FRENCH, SPANISH, PSYCHOLOGY, LIBERAL ARTS, RELIGIOUS STUDIES, AND COMPUTER AND INFORMATION TECHNOLOGY. THROUGH THE SISTERS OF SAINT JOSEPH, THE COLLEGE HAS THE ABILITY TO PROVIDE LOANER LAPTOPS FOR QUALIFYING STUDENTS.THE COLLEGE ALSO PARTNERED WITH THE ARCHDIOCESE OF PHILADELPHIA, SISTERS OF SAINT JOSEPH, AND WAWA TO OPEN AN ON-CAMPUS FOOD PANTRY TO ADDRESS THE GROWING ISSUE OF FOOD INSECURITY AFFECTING STUDENTS. ACCESSIBLE TO ALL STUDENTS, FACULTY, AND STAFF, THE PANTRY OFFERS A SELECTION OF NON-PERISHABLE AND REFRIGERATED GOODS. NO PROOF OF INCOME IS NEEDED OR REQUIRED.AUXILIARY SERVICES:AUXILIARY SERVICES INCLUDE A DIVERSE GROUP OF INTERNAL AND EXTERNAL UNITS INCLUDING RESIDENCE LIFE, FOOD SERVICES, AND FACILITIES RENTALS. 17875921 17875921 0 FINANCIAL AID AT CHESTNUT HILL COLLEGE PROVIDES ACCESS TO HIGHER EDUCATION TO EVERY DEAR NEIGHBOR WITHOUT DISTINCTION, INCLUDING THOSE WITH SIGNIFICANT FINANCIAL NEED. FOR TRADITIONAL UNDERGRADUATE STUDENTS, APPROXIMATELY 99% OF FULL-TIME STUDENTS ATTENDING CHESTNUT HILL COLLEGE RECEIVE INSTITUTIONAL SCHOLARSHIPS AND GRANTS, WHILE 100% OF FIRST-TIME, FULL-TIME STUDENTS RECEIVED SOME FORM OF FINANCIAL AID IN FISCAL 2023-2024. CHESTNUT HILL COLLEGE OFFERS A VARIETY OF SCHOLARSHIPS AND GRANTS TO HELP ENSURE STUDENTS HAVE THE ACCESS AND MEANS TO FULLY REALIZE THE BENEFITS OF A GREAT LIBERAL ARTS EDUCATION. THESE SCHOLARSHIPS AND GRANTS, WHICH DO NOT NEED TO BE REPAID, ARE GENERALLY RENEWABLE FOR AN ADDITIONAL THREE YEARS FOR FIRST-YEAR UNDERGRADUATE STUDENTS. (CONT'D ON SCHEDULE O.)THE COLLEGE OFFERS COMPREHENSIVE FINANCIAL AID PACKAGES TO SUPPORT STUDENTS' PERSONAL AND PROFESSIONAL GOALS. GRADUATE AND ACCELERATED ADULT DEGREE PROGRAM TUITION IS BILLED PER CREDIT HOUR AND THE ADMINISTRATIVE COSTS OF A STUDENT'S EDUCATION ARE COVERED THROUGH PROGRAM FEES. TRADITIONAL FULL-TIME UNDERGRADUATE STUDENTS RECEIVE AWARD LETTERS DETAILING ANY AID FOR WHICH THEY ARE ELIGIBLE. AID PACKAGES COVER TUITION, FEES, ROOM, BOARD, BOOKS, SUPPLIES, TRANSPORTATION, AND ADDITIONAL MISCELLANEOUS EXPENSES. A TYPICAL AID PACKAGE INCLUDES GRANTS OR SCHOLARSHIPS AND CAMPUS EMPLOYMENT (UP TO 20 HOURS PER WEEK). UNDERGRADUATES WILL LIKELY RECEIVE THE SAME AMOUNT ALL FOUR YEARS AS LONG AS THEY SUBMIT THE FAFSA ANNUALLY, CONTINUE TO MEET ALL AWARD CONDITIONS, AND THEIR NEED REMAINS ESSENTIALLY UNCHANGED. 46388813 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 125 0 665 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 30 29 0 0 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 PA AL AK AZ AR CA CO CT DC DE FL GA HI ID IL IN IA KS KY LA ME MD MN MO MS MT ND NE NH NJ NV NM NC OH OK OR RI SC SD TN TX UT VA VT WV WI WY X MARYANNE BUSH 2152487084 9601 GERMANTOWN AVENUE PHILADELPHIA PA 19118 WILLIAM W LATIMER PHD PRESIDENT 50.00 0.00 X X 418311 0 23939 BRIAN MCCLOSKEY ACTING PRESIDENT/CFO/VP FINANCE 50.00 0.00 X X 200632 0 15143 KRISTA MURPHY VP STRATEGIC INNOVATIONS 50.00 0.00 X 162686 0 17804 VINCENT TUNSTALL - ASSOC VP FINANCE/INTER CONTROLLER TO SEP 2024 50.00 0.00 X 143722 0 8852 JOSEPH P CONLEY CHIEF HUMAN RESOURCE OFFICER 50.00 0.00 X 120349 0 29951 CHERYLL ROTHERY PROFESSOR 50.00 0.00 X 133975 0 16044 CHRISTOPHER N SPANGLER CHIEF COMMUNICATIONS OFFICER 50.00 0.00 X 133793 0 14860 CATHERINE LOCKYER MOULTON BOARD CHAIR 50.00 0.00 X X 0 0 0 MAUREEN ERDLEN SSJ BOARD VICE CHAIR 50.00 0.00 X X 0 0 0 MARJORIE SCOTT BOARD SECRETARY (NON-VOTING) 0.50 0.00 X 0 0 0 JILL KIMBERLY BANKS BOARD MEMBER 0.50 0.00 X 0 0 0 SALLYANN M BOWMAN MD BOARD MEMBER 0.50 0.00 X 0 0 0 RICHARD J COHEN PHD FACHE BOARD MEMBER 0.50 0.00 X 0 0 0 MARY DACEY SSJ BOARD MEMBER 0.50 0.00 X 0 0 0 KENDRA ENNIS DAVENPORTMPLCFRE BOARD MEMBER 0.50 0.00 X 0 0 0 SUSAN JIN DAVIS BOARD MEMBER 0.50 0.00 X 0 0 0 DEVIN DEVOUE BOARD MEMBER 0.50 0.00 X 0 0 0 KAREN DIETRICH SSJ BOARD MEMBER 0.50 0.00 X 0 0 0 HERMAN C FALA JD BOARD MEMBER 0.50 0.00 X 0 0 0 J MICHAEL FITZPATRICK BOARD MEMBER 0.50 0.00 X 0 0 0 DEBORAH FLINT BOARD MEMBER 0.50 0.00 X 0 0 0 DAVID GUNN BOARD MEMBER 0.50 0.00 X 0 0 0 MARY ANN KEENAN MD BOARD MEMBER 0.50 0.00 X 0 0 0 RYAN KILLEEN EDD BOARD MEMBER 0.50 0.00 X 0 0 0 EILEEN MARNIEN SSJ BOARD MEMBER 0.50 0.00 X 0 0 0 JOANNE MCFADDEN MCBRIDE BOARD MEMBER 0.50 0.00 X 0 0 0 MARGARET MCCAFFERY BOARD MEMBER 0.50 0.00 X 0 0 0 MARY MCFADDEN SSJ CFRE BOARD MEMBER 0.50 0.00 X 0 0 0 FRANCES R PIERCE BOARD MEMBER 0.50 0.00 X 0 0 0 THOMAS QUEENAN BOARD MEMBER 0.50 0.00 X 0 0 0 JOHN SABIA JR BOARD MEMBER 0.50 0.00 X 0 0 0 LYNN MULVANEY SHARP BOARD MEMBER 0.50 0.00 X 0 0 0 MARYANNE L WALSH BOARD MEMBER 0.50 0.00 X 0 0 0 RASHIDA M WEATHERS BOARD MEMBER 0.50 0.00 X 0 0 0 KENNETH WONG BOARD MEMBER 0.50 0.00 X 0 0 0 CAROL STEINOUR YOUNG ESQ BOARD MEMBER 0.50 0.00 X 0 0 0 RONALD ZEMNICK BOARD MEMBER 0.50 0.00 X 0 0 0 BARBARA CRAWFORD BOARD SEC'Y (NON-VOTING) TO OCT 2023 0.50 0.00 X 0 0 0 DEBORAH HUGHES SSJ BOARD MEMBER TO DEC 2023 0.50 0.00 X 0 0 0 KATHLEEN NACE SSJ BOARD MEMBER TO DEC 2023 0.50 0.00 X 0 0 0 1313468 0 126593 22 0 1 0 CHARTWELL'S COLLEGE & UNIVERSITY DINING 2400 YORKMONT RD CHARLOTTE NC 28217 DINING SERVICES 2615039 ALLIED UNIVERSAL 121 WASHINGTON STREET SUITE 600 CONSHOHOCKEN PA 19428 SECURITY SERVICES 1243542 EMCOR SERVICES FLUIDICS 9815 ROOSEVELT BLVD SUITE A PHILADELPHIA PA 19114 PHYSICAL PLANT SERVICES 1019895 INTERSTATE MAINTENANCE CORPORATION 508 PRUDENTIAL RD STE 100 HORSHAM PA 19044 JANITORIAL SERVICES 746763 JENSPARK INC PO BOX 845764 BOSTON MA 02284 ADVERTISING & MARKETING SERVICES 457084 30 637569 7728846 108479 8366415 TUITION 611310 36381562 36381562 ROOM AND BOARD 611310 4192305 4192305 AUXILIARY FEES 611310 272269 272269 INTEREST INCOME-STUDENT DEBT 611310 83 83 40846219 713451 713451 508736 0 508736 508736 484000 24736 2051790 2208437 -156647 -156647 -156647 CATERING REVENUE 722320 327706 327706 CLINICAL RECEIPTS 900099 127945 127945 PARKING FEES 900099 34781 34781 429044 429044 919476 51197650 40846219 811706 1173310 21000 21000 17875921 17875921 653076 33254 619822 13833661 11784864 1441082 607715 195477 167478 19275 8724 1259464 1038001 167552 53911 1030472 819202 163426 47844 83674 83674 195377 195377 114203 114203 1984061 1284095 625707 74259 38212 2466 20058 15688 900590 802452 85980 12158 455285 355465 51967 47853 4133639 4231296 -152603 54946 87584 66144 20407 1033 1078300 320804 757496 1630346 1353350 247562 29434 568949 568949 DINING SERVICES 2600829 2600829 ATHLETICS 676681 676681 STUDENT ACTIVITIES 640218 554760 83910 1548 DUES AND MEMBERSHIPS 137872 70150 67722 1917009 1761652 151288 4069 52111900 46388813 4763905 959182 11029 11779 3464416 3863170 10492120 4969855 3514730 1963705 705865 446863 101103982 49873683 51309240 51230299 19418006 24207100 197903 196921 1525999 1326941 90639308 88216633 4962490 3317781 665358 968572 19596977 18587047 5997969 6550000 3386081 2441770 34608875 31865170 X 18219306 18551308 37811127 37800155 56030433 56351463 90639308 88216633 -914250 1235280 0 X 0 1 X 1 1 1 X 8782110 10694429 19665792 19950239 8366415 67458985 8782110 10694429 19665792 19950239 8366415 67458985 1734593 65724392 278768 249056 288946 374558 738187 1929515 113659 113659 312848 243253 446759 893158 591770 2487788 71989947 212670421 0.91300 0.94060 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: AMS DUES - 2021 AMOUNT: $ 6,970. ATHLETIC SPONSORSHIPS - 2019 AMOUNT: $ 2,500. BOOKSTORE COMMISSIONS - 2019 AMOUNT: $ 29,137. 2020 AMOUNT: $ 22,233. 2021 AMOUNT: $ 20,931. 2022 AMOUNT: $ 19,828. CELL TOWER REVENUE - 2019 AMOUNT: $ 26,926. 2020 AMOUNT: $ 22,584. 2021 AMOUNT: $ 23,316. CLINICAL RECEIPTS - 2019 AMOUNT: $ 74,413. 2020 AMOUNT: $ 69,302. 2021 AMOUNT: $ 98,928. 2022 AMOUNT: $ 103,507. 2023 AMOUNT: $ 127,945. LAUNDRY COMMISSIONS - 2019 AMOUNT: $ 6,423. 2020 AMOUNT: $ 2,147. 2021 AMOUNT: $ 3,938. PARKING FEES - 2019 AMOUNT: $ 81,940. 2020 AMOUNT: $ 15,472. 2021 AMOUNT: $ 68,353. 2022 AMOUNT: $ 52,725. 2023 AMOUNT: $ 34,781. REVENUE SHARING - 2019 AMOUNT: $ 38,925. TRANSCRIPTS - 2019 AMOUNT: $ 30,146. 2020 AMOUNT: $ 31,600. 2021 AMOUNT: $ 30,306. 2022 AMOUNT: $ 34,275. VENDING MACHINE COMMISSIONS - 2019 AMOUNT: $ 22,438. 2020 AMOUNT: $ 437. 2021 AMOUNT: $ 41,839. 2022 AMOUNT: $ 27,872. MISCELLANEOUS INCOME - 2020 AMOUNT: $ 79,478. 2021 AMOUNT: $ 152,178. 2022 AMOUNT: $ 654,951. 2023 AMOUNT: $ 429,044. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 26562623 3763561 1712846 738246 2147 114203 31184434 19994058 6124738 1278601 738246 2147 94381 26562623 20043647 2363992 -2413581 19994058 15459637 2336566 2247444 20043647 11443150 4476327 -459840 15459637 0.00000 1.00000 0.00000 1 0 10506160 10506160 78191150 38140327 40050823 11914487 11733356 181131 492185 492185 51230299 STUDENT DEPOSITS AND ADVANCES 802728 ADVANCES FROM U.S. GOVERNMENT FOR STUDENT LOANS 494434 ANNUITIES PAYABLE 78303 LEASE LIABILITIES 657972 OTHER LIABILITIES 408333 2441770 X 34511008 1235280 68202 1303482 33207526 114203 17875921 17990124 51197650 34189978 68202 68202 34121776 114203 17875921 17990124 52111900 PART V, LINE 4: THE COLLEGE'S ENDOWMENT CONSISTS OF 101 INDIVIDUAL FUNDS ESTABLISHED FOR THE COMBINED PURPOSE OF PRESERVING PRINCIPAL AND MAXIMIZING GROWTH. THE ENDOWMENT FUNDS ARE PRIMARILY FOR STUDENT SCHOLARSHIP OR SUPPORT FOR THE COLLEGE. PART X, LINE 2: THE COLLEGE IS A NOT-FOR-PROFIT ENTITY THAT IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, THE COLLEGE IS NOT SUBJECT TO INCOME TAXES EXCEPT TO THE EXTENT IT HAS TAXABLE INCOME FROM ACTIVITIES THAT ARE NOT RELATED TO ITS EXEMPT PURPOSES. NO PROVISION FOR INCOME TAXES WAS REQUIRED FOR 2024 OR 2023. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE COLLEGE AND HAS CONCLUDED THAT AS OF JUNE 30, 2024 AND 2023, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OR DISCLOSURE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE COLLEGE IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIOD IN PROGRESS. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 17,875,921. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 17,875,921. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE COLLEGE PROVIDES A STATEMENT IN ALL PUBLICATIONS AND ON ITS WEBSITE REGARDING ITS NONDISCRIMATORY POLICY. DURING FY24, THE POLICY WAS POSTED ON THE COLLEGE'S WEBSITE HOME PAGE. SCHEDULE E, PART I, LINE 6 CHESTNUT HILL COLLEGE RECEIVES FUNDS FROM VARIOUS FEDERAL AND STATE GOVERNMENT AGENCIES UNDER THEIR RESPECTIVE STUDENT FINANCIAL AID ASSISTANCE PROGRAMS. FEDERAL PROGRAMS INCLUDE DIRECT LOANS, PELL GRANT PROGRAM, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (SEOG) PROGRAM, FEDERAL WORK STUDY PROGRAM (FWS), AND TEACH GRANT PROGRAM. THE STATE PROGRAM IS THE PENNSYLVANIA HIGHER EDUCATION ASSISTANCE (PHEAA) PROGRAM FOR STUDENTS. IN ADDITION, THE COLLEGE IS AWARDED SPONSORED PROJECT GRANTS BY FEDERAL AND STATE GOVERNMENTAL AGENCIES. GENERAL SUPPORT IS PROVIDED TO THE COLLEGE FROM THE COMMONWEALTH OF PENNSYLVANIA UNDER ITS INSTITUTIONAL ASSISTANCE GRANT (IAG) PROGRAM TO PRIVATE COLLEGES AND UNIVERSITIES IN THE STATE. 1 AFRICAN SISTERS EDUCATION COLLABORATIVE (ASEC) EMMANUEL HALL 2300 ADAMS AVE SCRANTON PA 18509 204548564 501(C)(3) 21000 0 OPERATING SUPPORT 1 0 TUITION ASSISTANCE 925 17875921 0 PART I, LINE 2: CHESTNUT HILL COLLEGE DOES NOT PROVIDE GRANTS TO OTHER ORGANIZATIONS; HOWEVER, ON OCCASION DONATIONS ARE MADE TO OTHER CHARITABLE NON-PROFIT ORGANIZATIONS. SINCE THESE ARE DONATIONS, THEY ARE NOT MONITORED FOR A SPECIFIC USE. THE STUDENTS RECEIVING SCHOLARSHIPS AND FELLOWSHIPS ARE DETERMINED BY THE COLLEGE ON THE BASIS OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED, AND OTHER OBJECTIVE AND NONDISCRIMINATORY STANDARDS. SCHOLARSHIPS AND GRANTS FOR STUDENTS ARE APPLIED DIRECTLY TO A STUDENT'S CHESTNUT HILL COLLEGE ACCOUNT AND APPLIED TO TUITION AND FEES. ALL FINANCIAL AID IS SUBJECT TO REVISION BASED ON AVAILABILITY, CHANGES IN FAMILY CONTRIBUTION AND/OR CREDIT LOAD. SATISFACTORY ACADEMIC PROGRESS MUST BE MAINTAINED ACCORDING TO STANDARDS PRESCRIBED BY CHESTNUT HILL COLLEGE. ANNUAL RENEWAL OF FINANCIAL AID IS CONTINUOUS IF STUDENT CONTINUES TO DEMONSTRATE NEED, ALL REQUIRED DOCUMENTS ARE COMPLETED BY THE PUBLISHED DEADLINE, AND SATISFACTORY ACADEMIC PROGRESS IS MAINTAINED CONSISTENT WITH CHESTNUT HILL COLLEGE POLICY. RENEWAL OF AID ALSO IS DEPENDENT ON AVAILABILITY OF FUNDS. X 1 1 X X X 0 0 0 0 0 0 0 0 1 1 WILLIAM W LATIMER PHD PRESIDENT 370000 0 0 0 48311 0 15717 0 8222 0 442250 0 0 0 BRIAN MCCLOSKEY ACTING PRESIDENT/CFO/VP FINANCE 200632 0 0 0 0 0 1452 0 13691 0 215775 0 0 0 KRISTA MURPHY VP STRATEGIC INNOVATIONS 162686 0 0 0 0 0 4285 0 13519 0 180490 0 0 0 VINCENT TUNSTALL - ASSOC VP FINANCE/INTER CONTROLLER TO SEP 2024 143722 0 0 0 0 0 363 0 8489 0 152574 0 0 0 JOSEPH P CONLEY CHIEF HUMAN RESOURCE OFFICER 120349 0 0 0 0 0 29500 0 451 0 150300 0 0 0 CHERYLL ROTHERY PROFESSOR 133975 0 0 0 0 0 2737 0 13307 0 150019 0 0 0 PART I, LINE 1B WILLIAM W. LATIMER, PH.D., PRESIDENT, RECEIVES A HOUSING STIPEND. THE STIPEND IS INCLUDED IN TAXABLE COMPENSATION AND REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III). PART I, LINE 8 WILLIAM W. LATIMER, PH.D., PRESIDENT, HAS AN EMPLOYMENT CONTRACT EFFECTIVE JULY 1, 2022, THROUGH JUNE 30, 2025. A PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT 232237287 2014-07-30 27238000 SEE PART VI FOR DETAILS 0 0 0 A 8269000 27238000 494894 26743106 2014 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 0 0 0 0 1 A 1 SCHEDULE K, PART I, BOND A, COLUMN (F): THE PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT ("PAID") REVENUE BOND, SERIES OF 2014 WAS ISSUED ON BEHALF OF CHESTNUT HILL COLLEGE (THE "COLLEGE") FOR THE FOLLOWING PURPOSES: (I) THE CURRENT REFUNDING OF THE OUTSTANDING PRINCIPAL AMOUNT OF THE CHELTENHAM TOWNSHIP INDUSTRIAL DEVELOPMENT AUTHORITY'S CONSTRUCTION LINE OF CREDIT/PERMANENT MORTGAGE NOTE SERIES 2005 A 1, DATED SEPTEMBER 19, 2005 (THE "CTIDA NOTE"), (II) THE CURRENT REFUNDING OF THE OUTSTANDING PRINCIPAL AMOUNT OF PAID'S TAX-EXEMPT ADJUSTABLE MODE EDUCATIONAL FACILITIES REVENUE BONDS SERIES A OF 2007 (THE "SERIES 2007A BONDS"), AND PAID'S TAX-EXEMPT ADJUSTABLE MODE EDUCATIONAL FACILITIES REVENUE BONDS SERIES B OF 2007 (THE "SERIES 2007B BONDS"), (III) THE CURRENT REFUNDING OF THE OUTSTANDING PRINCIPAL AMOUNT OF A CONSTRUCTION LOAN PROVIDED TO THE COLLEGE BY WELLS FARGO BANK, NATIONAL ASSOCIATION (THE "2009 CONSTRUCTION LOAN"), (IV) THE PAYMENT OF THE COSTS OF TERMINATING AN INTEREST RATE MANAGEMENT AGREEMENT RELATED TO THE SERIES 2007A BONDS (THE "SWAP TERMINATION"), AND (V) FINANCING CERTAIN COSTS AND EXPENSES INCURRED IN CONNECTION WITH THE ISSUANCE OF THE PAID REVENUE BOND, SERIES OF 2014 (THE "CLOSING COSTS"). PROCEEDS OF THE DEBT/BONDS TO BE REFUNDED WERE USED BY THE COLLEGE TO FINANCE OR REFINANCE VARIOUS CAPITAL IMPROVEMENTS ON THE COLLEGE'S CAMPUS. X 8 108479 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): THE NUMBER IN COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE CONSISTS OF THE CHAIR OF THE BOARD, THE FORMER CHAIR OF THE BOARD, THE VICE CHAIR OF THE BOARD, THE PRESIDENT, AND AT LEAST TWO ADDITIONAL DIRECTORS APPOINTED BY RESOLUTION OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE SHALL HAVE AND EXERCISE THE AUTHORITY OF THE BOARD OF DIRECTORS IN THE MANAGEMENT OF THE BUSINESS OF THE CORPORATION DURING THE INTERVALS BETWEEN MEETINGS OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE SHALL KEEP REGULAR MINUTES OF ITS PROCEEDINGS AND REPORT THE SAME TO THE BOARD AT EACH REGULAR MEETING OF THE BOARD. THE EXECUTIVE COMMITTEE IS RESPONSIBLE FOR ANNUALLY EVALUATING THE PRESIDENT'S PERFORMANCE AS ARTICULATED IN HIS/HER CONTRACT. THE EXECUTIVE COMMITTEE SHALL REVIEW THE BYLAWS ON A CONTINUING BASIS. THE EXECUTIVE COMMITTEE DOES NOT HAVE THE AUTHORITY: (A) TO ADOPT OR CHANGE THE MISSION, PURPOSE, PHILOSOPHY OR OBJECTIVES OF THE CORPORATION OR TO CHANGE THE GENERAL STRUCTURE OF THE OPERATION OF THE CORPORATION AS A VOLUNTARY NON-PROFIT CORPORATION FOR EDUCATION; (B) TO AMEND THE CORPORATION'S CHARTER, CERTIFICATE OR ARTICLES OF INCORPORATION, OR BYLAWS; (C) TO DISSOLVE, DIVIDE, CONVERT, LIQUIDATE OR WIND UP THE CORPORATION, OR CONSOLIDATE OR MERGE THE CORPORATION WITH ANOTHER CORPORATION OR ENTITY; (D) TO SELL ALL OR SUBSTANTIALLY ALL THE ASSETS OF THE CORPORATION; (E) TO ELECT THE MEMBERS OF THE BOARD OF DIRECTORS OF THE CORPORATION; (F) TO APPROVE PRINCIPAL OFFICERS OF THE CORPORATION; AND (G) TO EFFECT ANY TRANSFER OR ENCUMBRANCE OF CORPORATE PROPERTY WHICH REQUIRES APPROVAL PURSUANT TO CANON LAW. FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS WERE AMENDED ON MARCH 24, 2024, TO ADD THE POSITION OF VICE CHAIR. THE VICE CHAIR IS ELECTED BY THE BOARD OF DIRECTORS AND PERFORMS FUNCTIONS ASSIGNED BY THE BOARD AND APPROVED BY THE MEMBERS. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE ORGANIZATION ARE THE GENERAL COUNCIL OF THE CONGREGATION OF THE SISTERS OF SAINT JOSEPH. THEY HAVE THE SAME VOTING RIGHTS AS THE OTHER BOARD DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A THE GENERAL COUNCIL OF THE CONGREGATION OF THE SISTERS OF SAINT JOSEPH RESERVE THE RIGHT TO ELECT THE MEMBERS OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS MAY INITIATE AND IMPLEMENT ANY PROPOSAL WITH RESPECT TO ANY OF THE FOLLOWING, AND, IF ANY PROPOSAL WITH RESPECT TO ANY OF THE FOLLOWING IS OTHERWISE INITIATED, IT SHALL NOT BECOME EFFECTIVE UNLESS APPROVED BY THE MEMBERS: (A) TO ADOPT OR CHANGE THE MISSION, PURPOSE, PHILOSOPHY, OR OBJECTIVES OF THE CORPORATION OR TO CHANGE THE GENERAL STRUCTURE OF THE OPERATION OF THE CORPORATION AS A VOLUNTARY NON-PROFIT CORPORATION FOR EDUCATION; (B) TO AMEND THE CORPORATION'S CHARTER, CERTIFICATE OR ARTICLES OF INCORPORATION, OR BYLAWS; (C) TO DISSOLVE, DIVIDE, CONVERT, LIQUIDATE OR WIND UP THE CORPORATION, OR CONSOLIDATE OR MERGE THE CORPORATION WITH ANOTHER CORPORATION OR ENTITY; (D) TO SELL ALL OR SUBSTANTIALLY ALL THE ASSETS OF THE CORPORATION; (E) TO ELECT THE MEMBERS OF THE BOARD OF DIRECTORS OF THE CORPORATION; (F) TO APPROVE PRINCIPAL OFFICERS OF THE CORPORATION; AND (G) TO EFFECT ANY TRANSFER OR ENCUMBRANCE OF CORPORATE PROPERTY WHICH REQUIRES APPROVAL PURSUANT TO CANON LAW. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 AND ALL ACCOMPANYING SCHEDULES ARE PREPARED AND REVIEWED BY THE COLLEGE'S EXTERNAL AUDIT FIRM WITH INFORMATION PREPARED BY MANAGEMENT. AFTER THE INITIAL REVIEW BY MANAGEMENT, THE FORM 990 IS THEN DISTRIBUTED TO THE AUDIT COMMITTEE MEMBERS FOR THEIR REVIEW AND APPROVAL. THE FULL BOARD OF DIRECTORS RECEIVES THE RETURN PRIOR TO THE RETURN BEING FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE COLLEGE HAS A SUBSTANTIVE WRITTEN CONFLICT OF INTEREST POLICY THAT COVERS BOARD MEMBERS AND ANY OTHER INDIVIDUAL CONSIDERED AN INTERESTED PERSON. BOARD MEMBERS, OFFICERS, AND KEY EMPLOYEES SIGN AN ANNUAL CONFLICT OF INTEREST STATEMENT WHICH INCLUDES COMPREHENSIVE QUESTIONS ON FAMILY AND BUSINESS RELATIONSHIPS. ALL STATEMENTS ARE REVIEWED BY THE BOARD SECRETARY. ANY POTENTIAL OR ACTUAL CONFLICT IS FULLY DISCLOSED BY THE SECRETARY TO THE MEMBERSHIP COMMITTEE, WHO WILL DETERMINE WHETHER OR NOT THE TRANSACTION IS IN THE BEST INTEREST OF THE ORGANIZATION. THE INTERESTED PARTY IS EXCLUDED FROM ALL DISCUSSIONS AND DECISIONS RELATED TO THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15A THE PROCESS FOR DETERMINING THE COMPENSATION FOR THE COLLEGE PRESIDENT AND THE OFFICERS IS DOCUMENTED IN THE COLLEGE'S "PROCESS FOR DETERMINING COMPENSATION" POLICY. THE BOARD OF DIRECTORS APPROVES THE FISCAL YEAR BUDGET WHICH CONTAINS THE TOTAL COMPENSATION AMOUNT FOR THE YEAR. THE PRESIDENT, DIRECTOR OF HUMAN RESOURCES, AND VICE PRESIDENT FOR FINANCIAL AFFAIRS DETERMINE THE COMPENSATION OF OFFICERS AND OTHER COLLEGE EMPLOYEES BASED ON THE BUDGET AND MARKET DATA FROM COMPARABLE INSTITUTIONS. THE ORGANIZATION USES COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCATION FOR HUMAN RESOURCES (CUPA) SALARY DATA TO VERIFY ANY COMPENSATION DECISIONS ARE WITHIN FAIR MARKET RANGE FOR THE INDUSTRY. THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS PERIODICALLY REVIEWS THE COLLEGE PRESIDENT'S COMPENSATION AND DOCUMENTS ITS REVIEW IN COMMITTEE MINUTES. SPECIFIC DISCUSSIONS ON COMPENSATION ARE NOT RECORDED IN BOARD MINUTES, HOWEVER, COMPENSATION IS A COMPONENT OF THE BUDGET WHICH IS FULLY DOCUMENTED. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024 AND WAS DETERMINED BY COMPARABLE SALARIES IN THE REGION. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST AT THE COLLEGE'S ACCOUNTING OFFICE. CONGREGATION OF THE SISTERS OF ST JOSEPH 9701 GERMANTOWN AVENUE PHILADELPHIA PA 19118 TEACHING, HUMAN SERVICE, AND OTHER CHARITABLE PURSUITS PA 501(C)(3) LINE 1 N/A 0 0 0 0 0 1 0 0 0 0 0 1 0 0 1 0 1 1 0 0 FORM 990, SCHEDULE R, PART V: THE COLLEGE LEASES ITS MAIN CAMPUS PROPERTY FROM THE CONGREGATION OF THE SISTERS OF ST. JOSEPH, PHILADELPHIA, A PENNSYLVANIA NON-PROFIT CORPORATION. THE LEASE IS DATED JULY 28, 2014 AND IS FOR A TERM OF 25 YEARS EXPIRING JULY 30, 2039. THE RENT FOR THE ENTIRE TERM WAS $10.00. THE CONGREGATION AND COLLEGE'S MAIN CAMPUS ARE LOCATED ON THE SAME PROPERTY. THE TWO ENTITIES SHARE COSTS RELATED TO PHYSICAL PLANT MAINTENANCE, UTILITIES, PROPERTY INSURANCE AND OTHER PROPERTY COSTS AS NECESSARY. COSTS ARE ALLOCATED BASED ON USAGE.