2025-05-10T11:48:27-05:00 2024-06-30 410746749 CLIFTONLARSONALLEN LLP TWO INTERNATIONAL PLACE 22ND FLOOR BOSTON MA 02110 990 2023-07-01 231386178 WIDENER UNIVERSITY WIDE 6104994396 ONE UNIVERSITY PLACE CHESTER PA 19013 HEATHER MEIER VP ADMINISTRATION & FINANCE 6104994396 2025-05-08 1 1 LAURA J KENNEY P00202198 6177170831 2025-05-08 2023 2025-03-06 01:10:19Z STACEY M ROBERTSON PHD ONE UNIVERSITY PLACE CHESTER PA 19013 402154343 0 X WWW.WIDENER.EDU X 1821 PA EMPOWERING OUR COMMUNITY OF LEARNERS TO DISCOVER AND CREATE BETTER FUTURES. 23 22 2697 50 -253952 0 12598348 10234775 224902180 249962004 5662014 7000225 387816 224659 243550358 267421663 92339059 110811473 0 0 96221371 106426156 0 0 2902385 57711623 62790261 246272053 280027890 -2721695 -12606227 416458447 406165961 167156735 168150917 249301712 238015044 X EMPOWERING OUR COMMUNITY OF LEARNERS TO DISCOVER AND CREATE BETTER FUTURES. 0 0 183169209 110811473 225823548 INSTRUCTIONAL/GRANTS - EXPENSES INCURRED WITH THE ACADEMIC INSTRUCTION OF OUR STUDENT BODY AS WELL AS GRANTS TO STUDENTS. THE UNIVERSITY COMPRISES OF EIGHT SCHOOLS AND COLLEGES THAT OFFER LIBERAL ARTS AND SCIENCES, PROFESSIONAL, AND PREPROFESSIONAL CURRICULA. A METROPOLITAN TEACHING INSTITUTION, THE UNIVERSITY IS A THREE-CAMPUS UNIVERSITY OFFERING MORE THAN 100 PROGRAMS OF STUDY LEADING TO ASSOCIATES, BACHELORS, MASTERS, OR DOCTORAL DEGREES. IN THE FALL SEMESTER OF 2023, THE UNIVERSITY HAD ENROLLED 5,610 STUDENTS COMPRISED OF 2,811 UNDERGRADUATE, 1,693 GRADUATE, AND 1,106 SCHOOL OF LAW STUDENTS. 24014966 0 22694445 AUXILIARY SERVICES - EXPENSES INCURRED PRIMARILY FOR HOUSING AND FEEDING STUDENTS 23941470 0 1444011 STUDENT SERVICES - EXPENSES INCURRED FOR PROGRAMS THAT SERVICE WIDENER'S STUDENT BODY, SUCH AS ATHLETICS, STUDENT ORGANIZATIONS, CAREER PLACEMENT, STUDENT HEALTH, AND STUDENT COUNSELING. IN ADDITION, THIS INCLUDES DEPARTMENTS THAT SUPPORT STUDENT ADMISSIONS, FINANCIAL AID, THE BURSAR, AND REGISTRAR. 16277180 0 0 ACADEMIC SUPPORT - EXPENSES INCURRED TO SUPPORT THE LIBRARY AND ACADEMIC ADMINISTRATION, INCLUDING PROVOST, DEANS, AND FACULTY DEVELOPMENT. 16277180 0 0 247402825 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 1 1 0 0 1 471 0 1 2697 1 1 1 1 CS 0 0 0 0 0 0 0 0 0 0 X 23 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 PA X X HEATHER MEIER VP A&FCFO 6104991168 ONE UNIVERSITY PLACE CHESTER PA 19013 STACEY M ROBERTSON PHD PRESIDENT 60.00 0.30 X X 615460 0 70329 ANDREW WORKMAN PROVOST 60.00 0.00 X 390707 0 32847 LINDA KIRALY GILBERT VP FOR ADMINISTRATION & FINANCE 60.00 1.30 X 368007 0 20404 THERESA TRAVIS VP ADVANCEMENT 60.00 0.00 X 312756 0 36512 JOSEPH HOWARD VP FOR ENROLLMENT 60.00 0.00 X 313581 0 17711 FRED AKL DEAN SCHOOL OF ENGINEERING 40.00 0.00 X 283402 0 38054 KATHRYN HERSCHEDE VP FOR STRATEGIC INITIATIVES 60.00 0.00 X 301731 0 17343 ALICIA KELLY VICE DEAN, DELAWARE LAW 60.00 0.00 X 222140 0 90986 ERIC BEHRENS VP FOR LIBRARY & INFORMATION SYSTEMS 60.00 0.00 X 259606 0 30484 MICHELLE DAVIS CHIEF DIVERSITY OFFICER 60.00 0.00 X 269398 0 15805 ANTHONY R WHEELER DEAN SCHOOL OF BUSINESS 40.00 0.00 X 241444 0 31576 ANNE M KROUSE DEAN SCHOOL OF NURSING 40.00 0.00 X 247443 0 17893 MICHAEL HUSSEY DEAN, COMMONWEALTH LAW 60.00 0.00 X 231654 0 8710 PAUL S BEIDEMAN CHAIR OF THE BOARD 2.00 0.00 X X 0 0 0 JAMES J MACK III VICE CHAIR OF THE BOARD 2.00 0.00 X X 0 0 0 CYNTHIA H SARNOSKI PHD VICE CHAIR OF THE BOARD 2.00 0.00 X X 0 0 0 NANCY G HESSE TREASURER OF THE BOARD 2.00 0.00 X X 0 0 0 EUGENE D MCGURK JR ESQ SECRETARY OF THE BOARD 2.00 0.00 X X 0 0 0 JOHN H TILELLI JR PAST CHAIR OF THE BOARD 2.00 0.00 X X 0 0 0 DOMENIC C COLASANTE TRUSTEE 2.00 0.00 X 0 0 0 DEXTER HAMILTON TRUSTEE 2.00 0.00 X 0 0 0 JAMES J HARGADON TRUSTEE 2.00 0.00 X 0 0 0 J MATTHEW HARTLEY PHD TRUSTEE 2.00 0.00 X 0 0 0 JAMES W HIRSCHMANN III TRUSTEE 2.00 0.00 X 0 0 0 ANTOINETTE LEATHERBERRY TRUSTEE 2.00 0.00 X 0 0 0 CHRISTIAN NASCIMENTO TRUSTEE 2.00 0.00 X 0 0 0 MIGUEL O PENA TRUSTEE 2.00 0.00 X 0 0 0 IRAKLIS PROKOPAKIS TRUSTEE 2.00 0.00 X 0 0 0 CATHERINE PULOS TRUSTEE 2.00 0.00 X 0 0 0 LOUIS RODRIGUEZ JR TRUSTEE 2.00 0.00 X 0 0 0 TIMOTHY SPEISS TRUSTEE 2.00 0.00 X 0 0 0 MIN S SUH ESQ TRUSTEE 2.00 0.00 X 0 0 0 RICHARD LP TAN TRUSTEE 2.00 0.00 X 0 0 0 DOUGLAS M WOLFBERG ESQ TRUSTEE 2.00 0.00 X 0 0 0 MARITZA GARCIA STUDENT TRUSTEE 2.00 0.00 X 0 0 0 4057329 0 428654 194 0 1 0 ARAMARK SERVICES INC 806 TYVOLA ROAD CHARLOTTE NC 28217 FOOD SERVICES 6143211 PJ DICK 225 NORTH SHORE DRIVE PITTSBURGH PA 15212 CONSTRUCTION MANAGEMENT 3597868 HSC BUILDERS CONSTRUCTION 304 NEW MILL LANE EXTON PA 19341 CONSTRUCTION MANAGEMENT 2892430 ELITE BUILDING SERVICES 2200 CONCORD PIKE 9TH FLR WILMINGTON DE 19803 HOUSEKEEPING SERVICES 1973222 P AGNES 2101 PENROSE AVENUE PHILADELPHIA PA 19145 CONSTRUCTION MANAGEMENT 1941666 78 50 4464731 5769994 83632 10234775 TUITION/FEES 611600 225695890 225695890 AUXILIARY ENTERPRISES 721310 22694445 22694445 FEES, PARKING, ETC 900099 965542 965542 ATHLETICS INCOME 611710 470229 470229 INTEREST FEES ON LOANS 900099 127658 127658 8240 8240 249962004 10807256 -254192 11061448 149778 168000 -18222 -18222 -18222 130378310 360000 133993341 552000 -3615031 -192000 -3807031 -3807031 12070 50 19339 -7269 -7269 MISCELLANEOUS 525990 249910 249910 WELLNESS CENTER 713940 240 240 250150 267421663 249962004 -253952 7478836 110811473 110811473 3034237 3034237 35000 35000 83984504 69589525 12684146 1710833 2865976 2337142 471376 57458 10372791 8437464 1727895 207432 6133648 4916592 1096183 120873 750576 750576 184642 184642 250518 250518 15690182 12546169 2847500 296513 1985609 535973 1420249 29387 1912203 1350126 505464 56613 5129619 2603252 2368119 158248 4737942 3465472 1270872 1598 1936941 1802067 82152 52722 414821 283259 121898 9664 3310963 3310963 15507861 15507861 2148019 2148019 BOOKS/PERIODICALS 2671728 2671728 0 0 STUDENT/FACULTY/ALUMNI 1365355 951562 256643 157150 FEES/DUES 1243424 865914 369249 8261 3549858 3268264 245961 35633 280027890 247402825 29722680 2902385 61185173 48446660 2864947 3517867 5449492 7765988 706826 875535 493265174 283877173 209925992 209388001 97167401 94860459 31473627 33130701 6444880 7520354 1240109 660396 416458447 406165961 20457502 22828626 5002558 5081184 6929877 8571949 104415084 101238405 30351714 30430753 167156735 168150917 X 177608760 162418449 71692952 75596595 249301712 238015044 416458447 406165961 X -12606227 6996655 -5677096 X 0 1 X 1 1 1 X 9982933 10426923 19186977 12598348 10234775 62429956 9982933 10426923 19186977 12598348 10234775 62429956 62429956 6355139 7515736 7618652 9851640 11211226 42552393 331689 331689 628765 549867 649669 370208 249910 2448419 107762457 1156282999 0.57930 0.58950 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2019 AMOUNT: $ 497,729. 2020 AMOUNT: $ 335,098. 2021 AMOUNT: $ 490,920. 2022 AMOUNT: $ 224,458. 2023 AMOUNT: $ 249,910. INTEREST FEES ON LOANS - 2019 AMOUNT: $ 131,036. 2020 AMOUNT: $ 214,769. 2021 AMOUNT: $ 158,749. 2022 AMOUNT: $ 145,750. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 1180 1180 0 PART II-B, LINE 1: THE UNIVERSITY IS A MEMBER OF THE ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES OF PENNSYLVANIA (AICUP). THE ASSOCIATION IS THE ONLY STATEWIDE ORGANIZATION THAT SERVES EXCLUSIVELY THE INTERESTS OF PRIVATE HIGHER EDUCATION WITHIN THE COMMONWEALTH, AND EXISTS TO COMPLEMENT AND SUPPORT THE WORK OF CAMPUS LEADERS. THE FIGURE DISCLOSED ON PART II-B IS EQUAL TO THE PORTION OF DUES PAID BY WIDENER UNIVERSITY THAT WERE USED BY THE ASSOCIATION TO SUPPORT ATTEMPTS TO INFLUENCE LEGISLATION WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("LOBBYING"). X X X X COMMUNITY ENRICHMENT 0 112904047 1536580 10859068 1708145 6051808 117539742 113852608 447611 5862702 1604552 5654322 112904047 114875751 9901731 -4111726 1519657 5293491 113852608 90171765 1862479 29243046 1407595 4993944 114875751 94623615 279925 -207474 1375993 3148308 90171765 0.38070 0.61692 0.00238 0 0 16454730 16454730 389677006 205217319 184459687 71486686 65729473 5757213 15646752 12930381 2716371 209388001 VENTURE CAPITAL 12904352 F NATURAL RESOURCES 5957964 F REAL ESTATE 10019503 F OTHER 4248882 F 33130701 ASSET RETIREMENT OBLIGATION 4730807 ACCRUED POST RETIREMENT BENEFITS 25028307 FINANCE LEASE OBLIGATIONS 377874 OPERATING LEASE OBLIGATION 293765 30430753 X 163543666 6996655 187339 7183994 156359672 250518 110811473 111061991 267421663 169755929 790030 790030 168965899 250518 110811473 111061991 280027890 PART III, LINE 1A: THE UNIVERSITY HAS ELECTED PURSUANT TO GENERALLY ACCEPTED ACCOUNTING STANDARDS NOT TO REPORT IN ITS REVENUE STATEMENT AND BALANCE SHEET WORKS OF ART. THE FOOTNOTE READS "THE UNIVERSITY HOUSES A COLLECTION OF AMERICAN PAINTINGS AND THE ALFRED O. DESHONG COLLECTION OF EUROPEAN PAINTINGS AND ORIENTAL ART OBJECTS THAT IT DOES NOT CAPITALIZE. THESE COLLECTIONS ADHERE TO THE UNIVERSITY'S POLICY TO (A) MAINTAIN THEM FOR PUBLIC EXHIBITION, EDUCATION, OR RESEARCH; AND (B) PROTECT, KEEP UNENCUMBERED, CARE FOR, AND PRESERVE THEM; AND (C) USE ANY PROCEEDS FROM SALE OF COLLECTION ITEMS TO ACQUIRE NEW COLLECTION ITEMS OR THE DIRECT CARE OF THE EXISTING COLLECTION. THE UNIVERSITY DEFINES DIRECT CARE AS ACTIVITIES TO ENHANCE THE LIFE, USEFULNESS, OR QUALITY OF THE COLLECTION, THEREBY ENSURING THAT IT WILL CONTINUE TO BENEFIT THE PUBLIC FOR YEARS TO COME." PART III, LINE 4: THE WIDENER UNIVERSITY ART COLLECTION HOUSES THE UNIVERSITY'S DIVERSE COLLECTION OF AMERICAN PAINTINGS AND THE ALFRED O. DESHONG COLLECTION OF EUROPEAN PAINTINGS AND ORIENTAL ART OBJECTS. THE COLLECTION PROVIDES NUMEROUS EDUCATIONAL OPPORTUNITIES TO OUR STUDENTS THROUGH ITS EXISTING ASSORTMENT. IT ALSO PROVIDES CULTURAL ENRICHMENT TO THE FACULTY, STAFF, AND SURROUNDING COMMUNITIES. PART V, LINE 4: ENDOWMENT FUNDING SUPPORTS SCHOLARSHIPS, FACULTY DEVELOPMENT, CHAIRS, AWARDS, THE LIBRARY, AS WELL AS OTHER INITIATIVES. PART X, LINE 2: THE UNIVERSITY HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS A TAX-EXEMPT ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. AS SUCH, IT IS SUBJECT TO TAX ONLY ON INCOME FROM ACTIVITIES UNRELATED TO ITS TAX EXEMPT MISSION. FOR THE YEARS ENDED JUNE 30, 2024 AND 2023, THE UNIVERSITY GENERATED NO SIGNIFICANT UNRELATED BUSINESS INCOME SUBJECT TO TAX, AND NO PROVISION FOR INCOME TAXES WAS PROVIDED. THE UNIVERSITY BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 168,000. NET SPECIAL FUNDRAISING EVENT EXPENSE 19,339. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 110,811,473. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 168,000. NET SPECIAL FUNDRAISING EXPENSE 19,339. EXPENSE OF AFFILIATE REPORTED ON A SEPARATE RETURN 48,669. AFFILIATE CLOSE-OUT 554,022. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 110,811,473. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 OUR POLICY IS PUBLISHED IN ALL CATALOGS, PRINTED MATERIALS AND ON THE UNIVERSITY'S WEBSITE. SCHEDULE E, PART I, LINE 6 IN THE NORMAL COURSE OF BUSINESS, THE UNIVERSITY ROUTINELY RECEIVES FUNDING FROM FEDERAL, STATE, AND LOCAL GOVERNMENTS FOR STUDENT FINANCIAL AID. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 13238345 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STUDENT TRIP 69180 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDENT TRIP 24376 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES STUDENT TRIP 25366 0 0 0 0 0 0 13357267 0 13357267 1 0 1 1 0 0 PART I, LINE 3: THE UNIVERSITY USES THE ACCRUAL METHOD OF ACCOUNTING TO REPORT EXPENDITURES OUTSIDE THE U.S. SCHEDULE F, PART IV: THE UNIVERSITY IS INVESTED IN PASS-THROUGH ENTITIES THAT PERIODICALLY INCLUDE ACTIVITY RELATED TO MAKING TRANSFERS TO FOREIGN CORPORATIONS. NO TRANSFERS OR OWNERSHIP INTERESTS, SEPARATE OR COMBINED, ROSE TO THE LEVEL OF TRIGGERING A FORM 8621 FILING REQUIREMENT. THERE WERE FORM 926 AND FORM 5471 REPORTINGS REQUIRED, ALL OF WHICH ARE BEING FILED AS ATTACHMENTS TO THE UNIVERSITY'S FORM 990-T FILING. 1 STUDENT FINANCIAL AID/GRANTS/AWARDS 4205 110811473 PART I, LINE 2: FINANCIAL AID AND SCHOLARSHIPS ARE AWARDED IN AN OBJECTIVE AND NONDISCRIMINATORY MANNER. SCHOLARSHIPS AND GRANTS FOR STUDENTS ARE APPLIED DIRECTLY TO A STUDENT'S UNIVERSITY ACCOUNT AND APPLIED TO TUITION, FEES, ROOM AND BOARD. ALL FINANCIAL AID IS SUBJECT TO REVISION BASED ON AVAILABILITY, CHANGES IN FAMILY CONTRIBUTION, HOUSING STATUS, AND/OR CREDIT LOAD. SATISFACTORY ACADEMIC PROGRESS MUST BE MAINTAINED ACCORDING TO STANDARDS PRESCRIBED BY THE UNIVERSITY. ANNUAL RENEWAL OF FINANCIAL AID IS CONTINUOUS IF INSTITUTIONAL FINANCIAL NEED REMAINS, ALL REQUIRED DOCUMENTS ARE COMPLETED BY THE PUBLISHED DEADLINE AND SATISFACTORY ACADEMIC PROGRESS IS MAINTAINED CONSISTENT WITH THE UNIVERSITY'S POLICY. X X X 1 1 X X X 0 1 0 0 0 0 0 1 1 1 STACEY M ROBERTSON PHD PRESIDENT 447802 0 75000 0 92658 0 5625 0 64704 0 685789 0 0 0 ANDREW WORKMAN PROVOST 292399 0 50000 0 48308 0 8262 0 24585 0 423554 0 0 0 LINDA KIRALY GILBERT VP FOR ADMINISTRATION & FINANCE 260971 0 75000 0 32036 0 7395 0 13009 0 388411 0 0 0 THERESA TRAVIS VP ADVANCEMENT 233839 0 50000 0 28917 0 6194 0 30318 0 349268 0 0 0 JOSEPH HOWARD VP FOR ENROLLMENT 215026 0 75000 0 23555 0 5993 0 11718 0 331292 0 0 0 FRED AKL DEAN SCHOOL OF ENGINEERING 249797 0 0 0 33605 0 15975 0 22079 0 321456 0 0 0 KATHRYN HERSCHEDE VP FOR STRATEGIC INITIATIVES 203200 0 75000 0 23531 0 5737 0 11606 0 319074 0 0 0 ALICIA KELLY VICE DEAN, DELAWARE LAW 211458 0 0 0 10682 0 6375 0 84611 0 313126 0 0 0 ERIC BEHRENS VP FOR LIBRARY & INFORMATION SYSTEMS 197216 0 50000 0 12390 0 5398 0 25086 0 290090 0 0 0 MICHELLE DAVIS CHIEF DIVERSITY OFFICER 192273 0 65125 0 12000 0 5100 0 10705 0 285203 0 0 0 ANTHONY R WHEELER DEAN SCHOOL OF BUSINESS 240652 0 0 0 792 0 6120 0 25456 0 273020 0 0 0 ANNE M KROUSE DEAN SCHOOL OF NURSING 219568 0 0 0 27875 0 6101 0 11792 0 265336 0 0 0 MICHAEL HUSSEY DEAN, COMMONWEALTH LAW 212761 0 0 0 18893 0 5763 0 2947 0 240364 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: FOR THE PRESIDENT OF THE UNIVERSITY, HOUSING IS REQUIRED BY THE UNIVERSITY AS A CONDITION OF EMPLOYMENT. THE USE OF THE HOUSE IS EXCLUDED FROM INCOME PURSUANT TO INTERNAL REVENUE CODE SECTION 119(A)(2). THE FAIR RENTAL VALUE OF THE HOUSING IS $38,444 AND IS INCLUDED IN THE AMOUNT REPORTED AS NONTAXABLE BENEFITS ON SCHEDULE J, PART II, COLUMN D. HEALTH OR SOCIAL CLUBS: THE UNIVERSITY MAINTAINS A WRITTEN ACCOUNTABLE POLICY REGARDING THE PAYMENT OR REIMBURSEMENT OF SOCIAL AND HEALTH CLUBS. FOR FY24, $24,963 WAS PAID TO THE UNION LEAGUE OF PHILADELPHIA FOR THE PRESIDENT TO CONDUCT UNIVERSITY BUSINESS AT THE CLUB. THIS AMOUNT IS NOT TREATED AS TAXABLE INCOME. PERSONAL SERVICES: OFFICERS AND KEY EMPLOYEES MAY USE A CAR SERVICE FOR EXTENDED TRAVEL IN ORDER TO CONDUCT UNIVERSITY BUSINESS. THIS AMOUNT IS NOT TREATED AS TAXABLE INCOME. THE UNIVERSITY ALSO PROVIDES CLEANING SERVICES FOR THE PRESIDENT'S RESIDENCE. FOR STACEY M. ROBERTSON, PH.D., THE FAIR VALUE OF THIS SERVICE IS $1,532 AND IS INCLUDED IN THE AMOUNT REPORTED AS TAXABLE INCOME ON SCHEDULE J, PART II, COLUMN B(III). PART I, LINE 4B THE UNIVERSITY PROVIDES A NON-QUALIFIED 457(F) SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN WITH A BENEFIT OF $300,000 TO STACEY M. ROBERTSON, PH.D., PRESIDENT. THIS BENEFIT FULLY VESTS ON JUNE 30, 2027, PROVIDED DR. ROBERTSON REMAINS CONTINUOUSLY EMPLOYED THROUGH THAT DATE AS PRESIDENT. CONTRIBUTIONS TO THE PLAN SHALL VEST IN FULL IMMEDIATELY UPON THE DEATH OR PERMANENT DISABILITY OF DR. ROBERTSON OR, IN THE EVENT OF THE TERMINATION OF HER EMPLOYMENT WITHOUT SERIOUS CAUSE PRIOR TO JUNE 30, 2027, CONTRIBUTIONS TO THE PLAN SHALL VEST ON A PRO-RATA BASIS DETERMINED BY THE CALCULATION RESULTING FROM THE NUMBER OF MONTHS OF SERVICE COMPLETED AS PRESIDENT AS THE NUMERATOR DIVIDED BY THE 60 MONTH SERVICE PERIOD OF THE TERM AS THE DENOMINATOR. THE UNIVERSITY DID NOT MAKE ANY SECTION 457(F) PLAN DEFERRALS OR PAYMENTS DURING THE TAX YEAR. PART I, LINE 7 IT IS THE POLICY OF THE BOARD TO AWARD BONUS COMPENSATION TO ITS EXECUTIVES, AT THE DISCRETION OF THE BOARD, FOR SERVICES AND PERFORMANCE RENDERED TO THE UNIVERSITY. GENERALLY, BONUS COMPENSATION TO EXECUTIVES WILL NOT EXCEED 20% OF TOTAL ANNUAL COMPENSATION WITHOUT COMPELLING REASONS SIMILAR TO THOSE CONSIDERED BY THE BOARD IN EXCESS OF THE POLICY RANGE ADOPTED BY THE BOARD. WHEN SUCH EXCEPTIONS ARISE, THE BOARD SHALL SET FORTH A STATEMENT OF REASONS SUPPORTING THE DEPARTURE FROM THE BOARD'S ESTABLISHED EXECUTIVE COMPENSATION POLICY. PART I, LINE 8 THE UNIVERSITY ENTERED INTO AN EMPLOYMENT AGREEMENT WITH STACEY M. ROBERTSON, PH.D., PRESIDENT, ON FEBRUARY 7, 2022. THIS EMPLOYMENT AGREEMENT COVERS THE PERIOD JULY 1, 2022 TO JUNE 30, 2027. A PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 232243852 70917SLY7 2014-09-11 20396446 REFINANCING 0 0 0 B PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 232243852 070917JM6 2013-11-01 53440880 REFINANCING 1 0 0 C PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 232243852 70917TEB3 2021-07-14 30284229 CAPITAL PROJECTS 0 0 0 A 6236446 20396446 310928 20085518 2014 0 1 1 1 B 13355880 36270000 53440880 344468 53096412 2013 1 1 1 1 C 30284229 277936 24881910 5124383 0 0 0 0 A 0 0 0 0 0.00000 0.00120 0.00120 0 0 1 B 0 0 0 0 0.00000 0.00020 0.00020 0 0 1 C 0 0 0 0 0.00000 0.00090 0.00090 0 0 1 A 0 1 1 0 0 0 0 0 1 B 0 1 1 0 0 0 0 0 1 C 0 1 0 1 0 0 0 0 1 A 1 B 1 C 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 07/14/2024 SCHEDULE K, PART II, LINES 14 AND 15: (A) ISSUER NAME: PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY THE REFUNDED BONDS WERE ISSUED: SERIES 2005 BONDS ISSUED 02/17/2005. (C) ISSUER NAME: PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT THE REFUNDED BONDS WERE ISSUED: SERIES 2003 BONDS ISSUED 10/03/2003; SERIES 2005 BONDS ISSUED 02/17/2005. J STEPHEN SMITH SPOUSE OF PRESIDENT 35000 CONSULTING 0 X 3 83632 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS IS REPORTED. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE, MAY BE CONVENED AT ANY TIME AT THE CALL OF ITS CHAIR, SHALL HAVE AND EXERCISE AUTHORITY OF THE BOARD IN THE MANAGEMENT OF ITS AFFAIRS, TO THE EXTENT PERMITTED BY THE DELAWARE CORPORATION LAW AND THE PENNSYLVANIA CORPORATION NOT-FOR-PROFIT CODE, EXCEPT THAT THE EXECUTIVE COMMITTEE SHALL NOT HAVE AUTHORITY TO: (1) FILL VACANCIES IN THE BOARD OF TRUSTEES; (2) ADOPT, AMEND OR REPEAL THE BYLAWS; (3) AMEND OR REPEAL ANY RESOLUTION OF THE BOARD; (4) TAKE ANY ACTION ON MATTERS COMMITTED BY THE BYLAWS OR RESOLUTION OF THE BOARD OF TRUSTEES TO ANOTHER COMMITTEE OF THE BOARD; (5) AMEND THE CERTIFICATE OF INCORPORATION; (6) ADOPT AN AGREEMENT OF MERGER OR CONSOLIDATION; (7) RECOMMEND THE SALE, LEASE OR EXCHANGE OF ALL OR SUBSTANTIALLY ALL OF THE UNIVERSITY'S PROPERTY; (8) RECOMMEND A DISSOLUTION OF THE UNIVERSITY; OR (9) REVOKE DISSOLUTION OF THE UNIVERSITY. THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE CHAIR, VICE CHAIRS, THE TREASURER, THE SECRETARY, THE PRESIDENT OF THE UNIVERSITY, AND THE PAST-CHAIR. ON INVITATION OF THE CHAIR, ANY MEMBER OF THE BOARD MAY ATTEND AN EXECUTIVE COMMITTEE MEETING. FOUR (4) TRUSTEES SHALL CONSTITUTE A QUORUM. A MAJORITY VOTE SHALL BE SUFFICIENT TO TAKE ACTION ON A MOTION. AT THE ANNUAL MEETING IN MAY, THE EXECUTIVE COMMITTEE SHALL DECIDE WHICH CHAIRS OF THE STANDING COMMITTEES WILL ATTEND THE MEETINGS OF THE EXECUTIVE COMMITTEE FOR THE FOLLOWING YEAR. THE GOAL IS TO HAVE THE CHAIR OF EACH STANDING COMMITTEE ATTEND AT LEAST ONE EXECUTIVE COMMITTEE MEETING A YEAR. THE COMMITTEE CHAIRS SHALL HAVE VOTING RIGHTS AT THE STANDING MEETINGS OF THE EXECUTIVE COMMITTEE. IF THE CHAIR FINDS IT NECESSARY TO CALL A SPECIAL MEETING OF THE EXECUTIVE COMMITTEE OR MOVE THE EXECUTIVE COMMITTEE MEETING INTO EXECUTIVE SESSION, THE CHAIR SHALL DECIDE WHICH COMMITTEE CHAIRS SHALL PARTICIPATE. FORM 990, PART VI, SECTION B, LINE 11B ONCE A DRAFT OF THE IRS FORM 990 HAS BEEN PREPARED BY OUR INDEPENDENT TAX ADVISORS WITH INFORMATION PROVIDED BY MANAGEMENT, IT IS REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. THE FORM 990 IS NOT FILED UNTIL THE FULL BOARD OF TRUSTEES HAS REVIEWED IT WITH MANAGEMENT. FORM 990, PART VI, SECTION B, LINE 12C THE UNIVERSITY HAS CONFLICT OF INTEREST POLICIES FOR THE BOARD OF TRUSTEES, OFFICERS, KEY EMPLOYEES, FULL-TIME STAFF, AND PART-TIME STAFF INVOLVED IN PURCHASING. THE BOARD OF TRUSTEES COMPLETE THE CONFLICT OF INTEREST DISCLOSURE FORM ON AN ANNUAL BASIS, AND THE DISCLOSURE FORMS ARE RECEIVED AND REVIEWED BY THE TRUSTEESHIP COMMITTEE, WHO FORWARD ANY CONFLICTS ON TO THE EXECUTIVE COMMITTEE OF THE BOARD FOR THEIR REVIEW. BOARD OF TRUSTEES MEMBERS WITH CONFLICTS ARE EXPECTED TO ABSTAIN FROM VOTING ON ISSUES FOR THEIR CONFLICT. THE PROCESS, REVIEW, AND REPORTING FOR THE OFFICERS AND KEY EMPLOYEES IS THE SAME AS THE BOARD OF TRUSTEES. ALL FULL-TIME STAFF AND PART-TIME STAFF INVOLVED IN PURCHASING COMPLETE A DISCLOSURE FORM ANNUALLY, AND THESE ARE COLLECTED AND REVIEWED BY THE CHIEF HUMAN RESOURCES OFFICER. THIS INDIVIDUAL THEN REPORTS THE FINDINGS TO THE VICE PRESIDENT-ADMINISTRATION & FINANCE AND THE PRESIDENT OF THE UNIVERSITY. A REPORT IS THEN MADE BY THE VICE PRESIDENT-ADMINISTRATION & FINANCE TO THE FINANCE AND ADMINISTRATION COMMITTEE OF THE BOARD, WHICH THEN REPORTS THE FINDINGS TO THE FULL BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15 IT IS THE POLICY OF WIDENER UNIVERSITY AND ITS BOARD OF TRUSTEES (BOARD) TO COMPENSATE ITS EXECUTIVES IN ACCORDANCE WITH THE MARKET AND COMMENSURATE TO THEIR CAREER EXPERIENCE, SERVICE, AND ACCOMPLISHMENT. THE MEMBERS OF THE EXECUTIVE COMMITTEE OF THE BOARD ACT AS THE UNIVERSITY COMPENSATION COMMITTEE AND THEN PRESENT THE COMPENSATION DATA OF ALL DISQUALIFIED PERSONS TO THE BOARD. THIS REVIEW AND APPROVAL PROCESS WAS LAST UNDERTAKEN IN 2024. THE BOARD'S USE OF COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION (CUPA) AND SIMILAR INDICES IS FOR GUIDANCE PURPOSES, TAKING INTO CONSIDERATION THAT THE POSITIONS REPORTED THEREIN ARE NOT, IN MANY INSTANCES, EQUIVALENT TO THE EXECUTIVE POSITIONS AT THE UNIVERSITY. THUS, WHEN AN INDIVIDUAL EXECUTIVE ACQUIRES ADDITIONAL RESPONSIBILITIES ABOVE AND BEYOND THOSE TRADITIONALLY ASSOCIATED WITH THE GENERAL CATEGORY SET FORTH IN THE COMPARATIVE INDICES, THE BOARD MAY CONSIDER AND AWARD APPROPRIATE COMPENSATION. EXCEPTIONS TO THIS POLICY CAN OCCUR WHERE SPECIAL EXPERTISE, ACCOMPLISHMENT OR EXPERIENCES ARE REQUIRED IN A PARTICULAR POSITION OR AN URGENT NEED HAS ARISEN JUSTIFYING, IN THE BOARD'S ANALYSIS, COMPENSATION AT A LEVEL IN EXCESS OF THE POLICY RANGE ADOPTED BY THE BOARD. WHEN SUCH EXCEPTIONS ARISE, THE BOARD SHALL SET FORTH A STATEMENT OF THEIR REASONING SUPPORTING THE DEPARTURE FROM THE ESTABLISHED EXECUTIVE COMPENSATION POLICY. FINALLY, THE BOARD, IN EVERY THIRD YEAR, WILL ENGAGE AN OUTSIDE CONSULTANT TO VERIFY THAT TOTAL COMPENSATION PAID TO THE EXECUTIVES OF THE UNIVERSITY IS FAIR AND REASONABLE. THE DELIBERATIONS AND DECISIONS REGARDING COMPENSATION ARE CONTEMPORANEOUSLY DOCUMENTED. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY'S AUDITED FINANCIAL STATEMENTS ARE POSTED ON ITS WEBSITE. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN PENSION -5,677,096. THE NEUROPSYCHOLOGY ASSESSMENT CENTER ONE UNIVERSITY PLACE CHESTER PA 19013 421682886 EDUCATION PA 501(C)(3) LINE 12A, I WIDENER UNIVERSITY 1 PROVIDENCE ENTERPRISES INC ONE UNIVERSITY PLACE CHESTER PA 19013 510260604 INACTIVE PA WIDENER UNIVERSITY C 1.00000 1 PIONEER PUB OF WIDENER INC ONE UNIVERSITY PLACE CHESTER PA 19013 232777365 REAL ESTATE PA WIDENER UNIVERSITY C 648685 1.00000 1 ACNP CORPORATION ONE UNIVERSITY PLACE CHESTER PA 19013 232540747 RESTAURANT (DISSOLVED) PA WIDENER UNIVERSITY C 1.00000 0 CARES TWENTY ONE SRL ONE UNIVERSITY PLACE CHESTER PA 19013 REAL ESTATE (DISSOLVED) CS PIONEER PUB OF WIDENER INC C 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 CARES TWENTY ONE SRL S 552305 CASH VALUE SCHEDULE R, PART V, LINE 1N: THE UNIVERSITY SHARES ITS FACILITIES WITH NEUROPSYCHOLOGY ASSESSMENT CENTER AT WIDENER UNIVERSITY.