2025-02-07T08:59:53-06:00 2024-06-30 410746749 CLIFTONLARSONALLEN LLP TWO INTERNATIONAL PLACE 22ND FLOOR BOSTON MA 02110 990 2023-07-01 231526668 CABRINI LEGACY CORPORATION CABR 6109028415 610 KING OF PRUSSIA ROAD RADNOR PA 19087 LYNDA BUZZARD TREASURER 6109028415 2025-02-06 1 0 LAURA J KENNEY P00202198 6177170831 2025-01-30 2023 2025-03-06 01:10:19Z X AMY LAMBERT 610 KING OF PRUSSIA ROAD RADNOR PA 19087 45108879 0 0928 X WWW.CABRINI.EDU X 1957 PA FORMER CATHOLIC INSTITUTION OF HIGHER EDUCATION DEDICATED TO ACADEMIC EXCELLENCE, LEADERSHIP DEVELOPMENT, AND A COMMITMENT TO SOCIAL JUSTICE. X 15 14 725 20 37765 0 8216138 2069966 52816539 28257904 2415308 1121172 864275 758198 64312260 32207240 23163018 34053909 0 0 21900665 17779455 21250 0 658612 27596688 26345905 72681621 78179269 -8369361 -45972029 107534814 11475149 53566187 9763337 53968627 1711812 X SEE SCHEDULE O.EDUCATION OF THE HEART: CABRINI UNIVERSITY WAS A CATHOLIC INSTITUTION OF HIGHER EDUCATION DEDICATED TO ACADEMIC EXCELLENCE, LEADERSHIP DEVELOPMENT, AND A COMMITMENT TO SOCIAL JUSTICE. THE UNIVERSITY WELCOMED LEARNERS OF ALL FAITHS, CULTURES AND BACKGROUNDS TO PREPARE THEM TO BECOME ENGAGED CITIZENS OF THE WORLD. 0 1 43133136 18340745 24470688 INSTRUCTION:CABRINI OFFERED MORE THAN 50 ACADEMIC MAJORS AND MINORS TO UNDERGRADUATE STUDENTS. THE UNIVERSITY ALSO OFFERED GRADUATE, DOCTORAL, AND PROFESSIONAL PROGRAMS IN FACE-TO-FACE, ON-LINE, HYFLEX AND HYBRID MODALITIES. THE UNIVERSITY WAS A NATIONAL LEADER AMONG HIGHER EDUCATION INSTITUTIONS IN INTEGRATING WORK FOR SOCIAL JUSTICE INTO A COLLEGE EDUCATION.DURING THE FINAL ACADEMIC YEAR OF 2023-2024, CABRINI ENROLLED APPROXIMATELY 700 UNDERGRADUATE STUDENTS AND MORE THAN 300 GRADUATE STUDENTS. A TOTAL OF 387 STUDENTS EARNED BACHELORS AND MASTERS DEGREES IN 2024. THE UNIVERSITY COUNTS MORE THAN 17,000 ALUMNI OF RECORD. 7081880 13662548 0 ACADEMIC SUPPORT AND STUDENT SERVICES:FOUNDED IN 1957 BY THE MISSIONARY SISTERS OF THE SACRED HEART OF JESUS (MSC) AS CABRINI COLLEGE, THE INSTITUTION BECAME CABRINI UNIVERSITY ON JULY 1, 2016. CABRINI OPERATED ACADEMIC CENTERS FOR RESEARCH AND SCHOLARSHIP IN THE AREAS OF DOMESTIC VIOLENCE, IMMIGRATION, GLOBAL LEARNING AND URBAN EDUCATION. PRIOR TO ITS CLOSURE, CABRINI INTRODUCED A CENTER FOR STUDENT SUCCESS AND MORE THAN 50 STUDENT CLUBS AND ORGANIZATIONS. CABRINI WAS AN NCAA DIVISION III INSTITUTION. 7313511 2050616 3787216 AUXILIARY ENTERPRISES:AUXILIARY SERVICES INCLUDED RESIDENCE LIFE, FOOD SERVICES AND RENTAL ACTIVITIES. IN ITS FINAL YEAR OF OPERATION, THE UNIVERSITY HAD MORE THAN 250 FULL TIME UNDERGRADUATE RESIDENTS. 57528527 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1974 0 1 725 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 15 14 0 0 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 PA X LYNDA BUZZARD TREASURER 6105194952 610 KING OF PRUSSIA RD RADNOR PA 19087 HELEN DRINAN INTERIM PRESIDENT 35.00 X X 325000 0 65125 AMY LAMBERT CHAIR 1.00 X X 0 0 0 MARY BETH SENKEWICZ VICE CHAIR 1.00 X X 0 0 0 ANDREA KELLIHER SECRETARY 1.00 X X 0 0 0 GEORGE BADEY III ESQ TRUSTEE 1.00 X 0 0 0 ANDREW BRADY TRUSTEE 1.00 X 0 0 0 SISTER CATHERINE GARRY MSC TRUSTEE 1.00 X 0 0 0 HERNAN GUARACAO TRUSTEE 1.00 X 0 0 0 MICHAEL KAZANJIAN TRUSTEE 1.00 X 0 0 0 MICHAEL KUBACKI TRUSTEE 1.00 X 0 0 0 SISTER DIANE OLMSTEAD MSC TRUSTEE 1.00 X 0 0 0 SISTER PIETRINA RACCULGIA MSC TRUSTEE 1.00 X 0 0 0 DAVID REGN TRUSTEE 1.00 X 0 0 0 RACHEL SLAUGHTER TRUSTEE 1.00 X 0 0 0 ERIC TIDWELL TRUSTEE 1.00 X 0 0 0 SISTER LUCILLE SOUZA MSC TRUSTEE TO MAY 2024 1.00 X 0 0 0 PATRICK J WARD TRUSTEE TO MAY 2024 1.00 X 0 0 0 JAMES COOPER VP FINANCE & TREASURER TO NOV 2023 35.00 X 158348 0 17978 LYNDA BUZZARD VP FINANCE & TREASURER 35.00 X 169645 0 17543 MICHELLE FILLING-BROWN DEAN ACADEMIC AFFAIRS/PROVOST 35.00 X 151025 0 26602 CATHERINE CORCORAN VP STUDENT EXPERIENCE TO JUNE 2024 35.00 X 139244 0 17761 ERIN MCLAUGHLIN ASSOCIATE DEAN TO JUNE 2024 35.00 X 158738 0 24848 ANGELA CAMPBELL VP MISSION TO MAY 2024 35.00 X 161018 0 26976 MELISSA TERLECKI ASSOCIATE DEAN TO JUNE 2024 35.00 X 137976 0 20059 BRIAN EURY FORMER CHIEF OF STAFF 35.00 X 133875 0 2346 1534869 0 219238 26 0 1 0 COLLEGIS EDUCATION 1415 22ND ST 220 OAK BROOK IL 60523 INFORMATION TECH- NOLOGY MANAGEMENT 2642301 SODEXO INC & AFFILIATES 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20878 FOOD SERVICES 2171700 ALLIED UNIVERSAL SECURITY SERVICES 161 WASHINGTON ST 600 CONSHOHOCKEN PA 19428 SECURITY SERVICES 1070855 SAUL EWING LLP 1500 MARKET STREET 38TH FLOOR PHILADELPHIA PA 19102 LEGAL SERVICES 676098 EMPIRE FACILITY SERVICES INC 651 RT 73 N STE 203 MARLTON NJ 08053 JANITORIAL SERVICES 634282 20 1540866 529100 2069966 TUITION AND FEES 611310 24470688 24470688 ROOM AND BOARD 611310 3404086 3404086 CHILDREN'S SCHOOL TUITION 611310 364093 364093 DIXON ATHLETIC CENTER 611310 12715 12715 BOOKSTORE 611310 6322 6322 28257904 633765 633765 505109 70698 235292 32933 269817 37765 307582 37765 269817 13120821 5764976 6868438 7355845 -6868438 487407 487407 EXPENSE RECOVERY 900099 12598 12598 438018 438018 450616 32207240 28257904 37765 1841605 20539275 20539275 13514634 13514634 981950 981950 13094893 8468693 4430901 195299 247544 160091 83761 3692 2365040 1599029 720622 45389 1090028 704940 368831 16257 870214 181 870030 3 141887 141887 18457 18457 3726554 2013829 1687154 25571 -206076 -206076 814938 664553 134647 15738 6862880 236308 6587022 39550 2027167 1425106 581637 20424 528768 490905 36499 1364 157644 84315 54626 18703 2142950 1544265 575544 23141 4819531 3473078 1294409 52044 1086602 1086602 FOOD SERVICES 1920479 1920479 BAD DEBT WRITE-OFFS 714372 714372 EVENTS AND PROGRAMS 326890 265331 11474 50085 RESIDENT ASSISTANTS 259483 259483 133165 164032 -182219 151352 78179269 57528527 19992130 658612 988670 7233492 3990793 1664494 4072781 446440 95304 381633 0 68213733 27439382 219891 2132627 2130723 107534814 11475149 3768797 7028869 715773 48149278 1070000 932339 1664468 53566187 9763337 X 32961459 1711812 21007168 0 53968627 1711812 107534814 11475149 -45972029 -6284786 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 31804796 14540 1704824 21100760 12423400 39117750 734590 2583341 438978 10191907 31804796 48000292 822280 -4515580 394340 4794902 39117750 41953130 121253 10031155 266253 3838993 48000292 43765365 123210 802083 201391 2536137 41953130 0.00000 0.00000 0.00000 0 0 0 DEPOSITS WITH BOND TRUSTEE 2130723 2130723 OTHER LIABILITIES 1664468 1664468 X 23835490 -6284786 2886431 -3398355 27233845 4973395 4973395 32207240 44903197 2886431 268225 3154656 41748541 36430728 36430728 78179269 PART V, LINE 4: THE PURPOSE OF THE UNIVERSITY'S ENDOWMENT FUND WAS TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS AND SCHOLARSHIPS SUPPORTED BY ITS ENDOWMENT AND FOR LONG-TERM FINANCIAL STABILITY. PROGRAMS SUPPORTED INCLUDE CENTERS THAT SUPPORTED OUR MISSION, FACULTY DEVELOPMENT, AND INTERNATIONAL EXPERIENCES FOR OUR STUDENTS. PART X, LINE 2: THE UNIVERSITY HAS RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE (IRS) INDICATING IT IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND IS SUBJECT TO FEDERAL AND STATE INCOME TAX ONLY ON NET UNRELATED BUSINESS INCOME. THE UNIVERSITY ENGAGES IN ACTIVITIES THAT ARE CONSIDERED UNRELATED TO ITS EXEMPT PURPOSE. THESE ACTIVITIES ARE SUBJECT TO FEDERAL AND STATE INCOME TAX. NO LOSS WAS GENERATED FROM THE ACTIVITIES IN FISCAL 2024. HOWEVER, THE UNIVERSITY HAS A NET OPERATING LOSS CARRY FORWARD OF $1,782,826 AVAILABLE TO OFFSET ANY TAXABLE INCOME FROM THESE UNRELATED ACTIVITIES. ACCORDINGLY, NO FEDERAL OR STATE TAX PROVISION IS REQUIRED. THE UNIVERSITY IS REQUIRED TO DETERMINE WHETHER A TRANSACTION OR EVENT MUST BE REPORTED IN A TAX RETURN AND TO EVALUATE WHETHER A TAX POSITION BE RECOGNIZED OR DERECOGNIZED BASED ON A MORE-LIKELY-THAN-NOT THRESHOLD. THIS APPLIES TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. NO ADJUSTMENTS TO THE FINANCIAL STATEMENTS WERE REQUIRED AS A RESULT OF THIS REVIEW. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE REPORTED NET WITH REVENUE ON FINANCIAL STATEMENTS 12,110,058. RENTAL EXPENSES -268,225. LIQUIDATION ACCOUNTING ADJUSTMENT TO NET REALIZABLE VALUE OF PROPERTY, PLANT, AND EQUIPMENT -6,868,438. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 268,225. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE REPORTED NET WITH REVENUE ON FINANCIAL STATEMENTS 12,110,058. ACCRUAL OF LIQUIDATION COSTS FOR WAGES AND RELATED EXPENSES 311,124. ACCRUAL OF LIQUIDATION COSTS FOR OTHER OPERATING EXPENSES 3,470,271. LIQUDATION ACCOUNTING ADJUSTMENT TO REFLECT TRANSFERS TO CHARITABLE ORGANIZATIONS 20,539,275. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 PRIOR TO CLOSING THE UNIVERSITY IN JUNE 2024, THE NON-DISCRIMINATORY POLICY WAS AVAILABLE ON THE UNIVERSITY'S WEBSITE. SCHEDULE E, PART I, LINE 6 CABRINI UNIVERSITY RECEIVED FUNDS FROM VARIOUS FEDERAL AND STATE GOVERNMENT AGENCIES UNDER THEIR RESPECTIVE STUDENT FINANCIAL AID ASSISTANCE PROGRAMS. FEDERAL PROGRAMS INCLUDED THE PELL GRANT PROGRAM, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT PROGRAM, COLLEGE WORK STUDY PROGRAM, TEACH GRANT PROGRAM, AND THE PERKINS LOAN PROGRAM. THE STATE PROGRAM IS THE PENNSYLVANIA HIGHER EDUCATION ASSISTANCE PROGRAM FOR STUDENTS. IN ADDITION, THE UNIVERSITY WAS AWARDED SPONSORED RESEARCH AND OTHER PROJECT GRANTS BY FEDERAL AND STATE GOVERNMENTAL AGENCIES. GENERAL SUPPORT WAS PROVIDED TO THE UNIVERSITY FROM THE STATE OF PENNSYLVANIA UNDER ITS INSTITUTIONAL ASSISTANCE GRANT PROGRAM TO PRIVATE COLLEGES AND UNIVERSITIES. IN CONNECTION WITH THE CLOSURE OF THE UNIVERSITY, THE FINAL DAY OF ACADEMIC INSTRUCTION (MAY 11, 2024) WAS THE FINAL DAY OF PARTICIPATION IN TITLE IV FEDERAL AID PROGRAMS. 1 VILLANOVA UNIVERSITY 800 LANCASTER AVE VILLANOVA PA 19085 231352688 501(C)(3) 19278750 0 TRANSFER OF NUMEROUS ENDOWED FUNDS FOR FUTURE STEWARDSHIP STEPINAC HIGH SCHOOL FOUNDATION 950 MAMARONECK AVENUE WHITE PLAINS NY 10605 133919454 501(C)(3) 326488 0 TRANSFER OF MASTRONARDI SCHOLARSHIP FUND FOR FUTURE STEWARDSHIP WHITE PLAINS HOSPITAL MEDICAL CENTER 41 E POST ROAD WHITE PLAINS NY 106014607 131740130 501(C)(3) 217659 0 TRANSFER OF MASTRONARDI SCHOLARSHIP FUND FOR FUTURE STEWARDSHIP SACRED HEART ACADEMY 480 SOUTH BRYN MAWR AVENUE BRYN MAWR PA 19010 231742113 501(C)(3) 80165 0 TRANSFER OF UNICO- PHILADELPHIA CHAPTER SANTORA SCHOLARSHIP FUND FOR FUTURE STEWARDSHIP THE SHELTER FOR ABUSED WOMEN AND CHILDREN PO BOX 10102 NAPLES FL 34101 592752895 501(C)(3) 75158 0 TRANSFER OF BARBARA AND JOHN JORDAN ENDOWMENT FOR FUTURE STEWARDSHIP MERION MERCY ACADEMY 511 MONTGOMERGY AVENUE MERION STATION PA 19066 231856810 501(C)(3) 69718 0 TRANSFER OF FELICIA FALCONE FUND FOR FUTURE STEWARDSHIP MARIST COLLEGE 3399 NORTH RD POUGHKEEPSIE NY 126011350 141442493 501(C)(3) 61564 0 TRANSFER OF MICHAEL & JENNIFER GUZZARDI SCHOLARSHIP FOR FUTURE STEWARDSHIP LAUREL HOUSE PO BOX 764 NORRISTOWN PA 19404 232172743 501(C)(3) 50000 0 TRANSFER OF BARBARA AND JOHN JORDAN ENDOWMENT FOR FUTURE STEWARDSHIP PROJECT SAFE PO BOX 465 SHAWNEE OK 748020465 731264293 501(C)(3) 50000 0 TRANSFER OF BARBARA AND JOHN JORDAN ENDOWMENT FOR FUTURE STEWARDSHIP URSINUS COLLEGE 601 E MAIN ST COLLEGEVILLE PA 194262509 231177930 501(C)(3) 50000 0 TRANSFER OF BARBARA AND JOHN JORDAN ENDOWMENT FOR FUTURE STEWARDSHIP THE GOLISANO CHILDREN'S MUSEUM OF NAPLES 15080 LIVINGSTON ROAD NAPLES FL 34109 010687133 501(C)(3) 50000 0 TRANSFER OF BARBARA AND JOHN JORDAN ENDOWMENT FOR FUTURE STEWARDSHIP MICHAEL AND PATRICIA LEVITT FAMILY CHARITABLE FOUNDATION PO BOX 90708 CAMDEN NJ 081010700 208140755 501(C)(3) 46048 0 TRANSFER OF MICHELLE PERNA FUND FOR FUTURE STEWARDSHIP TEMPLE UNIVERSITY 1330 POLLET WALK SUITE 100 PHILADELPHIA PA 19122 231365971 501(C)(3) 45811 0 TRANSFER OF AGNES BOSCO ORSATTI SCHOLARSHIP FUND FOR FUTURE STEWARDSHIP MISSION KIDS CHILD ADVOCACY CENTER 969 TREAT AVE SAN FRANCISCO CA 941103327 831478365 501(C)(3) 40000 0 TRANSFER OF BARBARA AND JOHN JORDAN ENDOWMENT FOR FUTURE STEWARDSHIP HELLENIC UNIVERSITY CLUB OF PHILADELPHIA PO BOX 42199 PHILADELPHIA PA 191012199 237061731 501(C)(3) 26570 0 TRANSFER OF PLATO MARINAKOS AWARD FOR PUBLIC HEALTH FUND FOR FUTURE STEWARDSHIP NIAGARA UNIVERSITY LEWISTON ROAD LEWISTON NY 14109 160755807 501(C)(3) 25000 0 TRANSFER OF BARBARA AND JOHN JORDAN ENDOWMENT FOR FUTURE STEWARDSHIP VASSAR COLLEGE 161 COLLEGE AVENUE BOX 725 POUGHKEEPSIE NY 12603 141338587 501(C)(3) 24038 0 TRANSFER OF PHILLIP COOK ASPIRING PLAYWRIGHT FUND FOR FUTURE STEWARDSHIP CABRINI HIGH SCHOOL NEW ORLEANS 1400 MOSS ST NEW ORLEANS LA 70119 721196967 501(C)(3) 22306 0 TRANSFER OF CORBIN SICOLI BOOK FUND FOR FUTURE STEWARDSHIP 18 0 SCHOLARSHIPS 1107 13514634 PART I, LINE 2: CABRINI UNIVERSITY OBTAINED THE APPROVAL OF THE COURT OF COMMON PLEAS OF CHESTER COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION TO TRANSFER ENDOWED FUNDS TO VARIOUS OTHER 501(C)(3) ORGANIZATIONS IN ACCORDANCE WITH DONOR WISHES. CABRINI UNIVERSITY ENTERED INTO WRITTEN AGREEMENTS WITH EACH DONOR TO DOCUMENT APPROVAL OF THE INTENDED RECEIVING ORGANIZATION. SUBSEQUENTLY, DONORS ENTERED INTO AGREEMENTS WITH THE GRANTEE ORGANIZATIONS TO DETERMINE HOW THEIR FUNDS WOULD BE ADMINISTERED AT THE RECIPIENT ORGANIZATION. SCHOLARSHIPS AND GRANTS FOR STUDENTS WERE APPLIED DIRECTLY TO THE STUDENT'S CABRINI UNIVERSITY ACCOUNT AND APPLIED TO TUITION AND FEES. ALL FINANCIAL AID WAS SUBJECT TO REVISION BASED ON AVAILABILITY, CHANGES IN FAMILY CONTRIBUTION, AND/OR CREDIT LOAD. SATISFACTORY ACADEMIC PROGRESS WAS REQUIRED TO BE MAINTAINED ACCORDING TO STANDARDS PRESCRIBED BY CABRINI UNIVERSITY. ANNUAL RENEWAL OF FINANCIAL AID WAS CONTINUOUS IF STUDENT CONTINUED TO DEMONSTRATE NEED, ALL REQUIRED DOCUMENTS WERE COMPLETED BY THE PUBLISHED DEADLINE, AND SATISFACTORY ACADEMIC PROGRESS WAS MAINTAINED CONSISTENT WITH THE CABRINI UNIVERSITY POLICY. RENEWAL OF AID WAS ALSO DEPENDENT ON THE AVAILABILITY OF FUNDS. SCHOLARSHIPS AND GRANTS WERE PROVIDED IN AN OBJECTIVE AND NONDISCRIMINATORY MANNER. X 1 1 X X 1 0 0 0 0 0 0 0 0 HELEN DRINAN INTERIM PRESIDENT 325000 0 0 0 0 0 11125 0 54000 0 390125 0 0 0 ANGELA CAMPBELL VP MISSION TO MAY 2024 161018 0 0 0 0 0 11550 0 15426 0 187994 0 0 0 LYNDA BUZZARD VP FINANCE & TREASURER 169645 0 0 0 0 0 6638 0 10905 0 187188 0 0 0 ERIN MCLAUGHLIN ASSOCIATE DEAN TO JUNE 2024 158738 0 0 0 0 0 8832 0 16016 0 183586 0 0 0 MICHELLE FILLING-BROWN DEAN ACADEMIC AFFAIRS/PROVOST 151025 0 0 0 0 0 11200 0 15402 0 177627 0 0 0 JAMES COOPER VP FINANCE & TREASURER TO NOV 2023 158348 0 0 0 0 0 10836 0 7142 0 176326 0 0 0 MELISSA TERLECKI ASSOCIATE DEAN TO JUNE 2024 137976 0 0 0 0 0 8813 0 11246 0 158035 0 0 0 CATHERINE CORCORAN VP STUDENT EXPERIENCE TO JUNE 2024 139244 0 0 0 0 0 9800 0 7961 0 157005 0 0 0 PART I, LINE 1A HELEN DRINAN, INTERIM PRESIDENT - RESIDENCE FOR PERSONAL USE: THE UNIVERSITY REQUIRES ITS INTERIM PRESIDENT TO LIVE IN A RESIDENCE ON CAMPUS. THE ANNUAL RENTAL VALUE OF THE RESIDENCE IS NOT TREATED AS TAXABLE COMPENSATION TO THE INTERIM PRESIDENT. THE ANNUAL RENTAL VALUE OF THE RESIDENCE IS INCLUDED IN THE AMOUNT REPORTED ON SCHEDULE J, PART II, COLUMN (D). PART I, LINE 4A FORM 990, SCHEDULE J, PART I, LINE 4A: BRIAN EURY, CHIEF OF STAFF, WAS PAID $109,616 IN 2023 UNDER A SEVERANCE AGREEMENT. THIS AMOUNT WAS REPORTED AS TAXABLE INCOME AND IS INCLUDED IN THE AMOUNT REPORTED IN FORM 990, PART VII, COLUMN (D). LAND, BUILDINGS, AND EQUIPMENT 2024-06-28 63703853 FMV 231352688 VILLANOVA UNIVERSITY 800 LANCASTER AVE VILLANOVA PA 19085 501(C)(3) TRANSFER OF NUMEROUS ENDOWED FUNDS FOR FUTURE STEWARDSHIP 2024-06-28 19278750 CASH 231352688 VILLANOVA UNIVERSITY 800 LANCASTER AVE VILLANOVA PA 19085 501(C)(3) TRANSFER OF MASTRONARDI SCHOLARSHIP FUND FOR FUTURE STEWARDSHIP 2024-06-28 326488 CASH 133919454 STEPINAC HIGH SCHOOL FOUND 950 MAMARONECK AVENUE WHITE PLAINS NY 10605 501(C)(3) TRANSFER OF MASTRONARDI SCHOLARSHIP FUND FOR FUTURE STEWARDSHIP 2024-06-28 217659 CASH 131740130 WHITE PLAINS HOSPITAL MEDICAL CENTER 41 E POST ROAD WHITE PLAINS NY 106014607 501(C)(3) TRANSFER OF UNICO PHILADELPHIA CHAPTER SANTORA SCHOLARSHIP FUND FOR FUTURE STEWARDSHIP 2024-06-28 80165 CASH 231742113 SACRED HEART ACADEMY 480 SOUTH BRYN MAWR AVENUE BRYN MAWR PA 19010 501(C)(3) TRANSFER OF BARBARA AND JOHN JORDAN ENDOWMENT FOR FUTURE STEWARDSHIP 2024-06-28 75158 CASH 592752895 THE SHELTER FOR ABUSED WOMEN AND CHILDREN PO BOX 10102 NAPLES FL 34101 501(C)(3) TRANSFER OF FELICIA FALCONE FUND FOR FUTURE STEWARDSHIP 2024-06-28 69718 CASH 231856810 MERION MERCY ACADEMY 511 MONTGOMERGY AVENUE MERION STATION PA 19066 501(C)(3) TRANSFER OF MICHAEL & JENNIFER GUZZARDI SCHOLARSHIP FOR FUTURE STEWARDSHIP 2024-06-28 61564 CASH 141442493 MARIST COLLEGE 3399 NORTH RD POUGHKEEPSIE NY 126011350 501(C)(3) TRANSFER OF BARBARA AND JOHN JORDAN ENDOWMENT FOR FUTURE STEWARDSHIP 2024-06-28 50000 CASH 232172743 LAUREL HOUSE PO BOX 764 NORRISTOWN PA 19404 501(C)(3) TRANSFER OF BARBARA AND JOHN JORDAN ENDOWMENT FOR FUTURE STEWARDSHIP 2024-06-28 50000 CASH 731264293 PROJECT SAFE PO BOX 465 SHAWNEE OK 748020465 501(C)(3) TRANSFER OF BARBARA AND JOHN JORDAN ENDOWMENT FOR FUTURE STEWARDSHIP 2024-06-28 50000 CASH 231177930 URSINUS COLLEGE 601 E MAIN ST COLLEGEVILLE PA 194262509 501(C)(3) TRANSFER OF BARBARA AND JOHN JORDAN ENDOWMENT FOR FUTURE STEWARDSHIP 2024-06-28 50000 CASH 010687133 THE GOLISANO CHILDREN'S MUSEUM OF NAPLES 15080 LIVINGSTON ROAD NAPLES FL 34109 501(C)(3) TRANSFER OF MICHELLE PERNA FUND FOR FUTURE STEWARDSHIP 2024-06-28 46048 CASH 208140755 MICHAEL AND PATRICIA LEVITT FAMILY CHARITABLE FOUND PO BOX CAMDEN NJ 08101 501(C)(3) TRANSFER OF AGNES BOSCO ORSATTI SCHOLARSHIP FUND FOR FUTURE STEWARDSHIP 2024-06-28 45811 CASH 231365971 TEMPLE UNIVERSITY 1330 POLLET WALK SUITE 100 PHILADELPHIA PA 19122 501(C)(3) TRANSFER OF BARBARA AND JOHN JORDAN ENDOWMENT FOR FUTURE STEWARDSHIP 2024-06-28 40000 CASH 831478365 MISSION KIDS CHILD ADVOCACY CENTER 969 TREAT AVE SAN FRANCISCO CA 941103327 501(C)(3) TRANSFER OF PLATO MARINAKOS AWARD FOR PUBLIC HEALTH FUND FOR FUTURE STEWARDSHIP 2024-06-28 26570 CASH 237061731 HELLENIC UNIVERSITY CLUB OF PHILADELPHIA PO BOX 42199 PHILADELPHIA PA 191012199 501(C)(3) TRANSFER OF BARBARA AND JOHN JORDAN ENDOWMENT FOR FUTURE STEWARDSHIP 2024-06-28 25000 CASH 160755807 NIAGARA UNIVERSITY LEWISTON ROAD LEWISTON NY 14109 501(C)(3) TRANSFER OF PHILLIP COOK ASPIRING PLAYWRIGHT FUND FOR FUTURE STEWARDSHIP 2024-06-28 24038 CASH 141338587 VASSAR COLLEGE 161 COLLEGE AVENUE BOX 725 POUGHKEEPSIE NY 12603 501(C)(3) TRANSFER OF CORBIN SICOLI BOOK FUND FOR FUTURE STEWARDSHIP 2024-06-28 22306 CASH 721196967 CABRINI HIGH SCHOOL NEW ORLEANS 1400 MOSS ST NEW ORLEANS LA 70119 501(C)(3) 0 1 0 0 PART II, LINE 2E: EXPLANATION OF INVOLVEMENT: LYNDA BUZZARD, TREASUER AND MICHELLE FILLING-BROWN, KEY EMPLOYEE OF CABRINI UNIVERSITY BECAME EMPLOYEES AT VILLANOVA UNIVERSITY IN THE ORDINARY COURSE OF BUSINESS FOLLOWING THE COMPLETION OF THE TRANSFER OF CABRINI UNIVERSITY'S ASSETS TO VILLANOVA UNIVERSITY. FORM 990, PART III, LINE 3 IN JUNE 2023, CABRINI UNIVERSITY ANNOUNCED THAT THE 2023-2024 ACADEMIC YEAR WOULD BE THE FINAL YEAR OF OPERATIONS DUE TO CONTINUED DECLINES IN ENROLLMENT AND OPERATING DEFICITS. CABRINI UNIVERSITY HELD ITS FINAL COMMENCEMENT CEREMONY IN MAY 2024 AND MANAGEMENT IMPLEMENTED A PLANNED REDUCTION IN FORCE THAT ELIMINATED MOST OF THE UNIVERSITY'S FACULTY AND STAFF POSITIONS. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE CONSISTS OF THE PRESIDENT, THE BOARD CHAIR, THE BOARD VICE CHAIR, THE CHAIRS OF THE OTHER STANDING COMMITTEES AND SUCH OTHER TRUSTEES AS THE BOARD MAY DESIGNATE BY RESOLUTION. THE CHAIR OF THE BOARD SHALL BE THE CHAIR OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL HAVE AND EXERCISE ALL OF THE POWERS AND AUTHORITY OF THE BOARD, EXCEPT THAT IT SHALL NOT HAVE ANY POWER OR AUTHORITY AS THE THE FOLLOWING: (A) THE GRANTING OF DEGREES; (B) THE AUTHORIZATION OF THE UNIVERSITY TO INCUR INDEBTEDNESS OR TO MAKE EXTRAORDINARY AND UNBUDGETED EXPENDITURES IN EXCESS OF SUCH AMOUNT AS IS SET FROM TIME TO TIME BY THE BOARD OF TRUSTEES; (C) THE ENTERING INTO OF ANY MATERIAL COMMITMENT AFFECTING THE CAPITAL ASSETS OF THE UNIVERSITY, UNLESS SPECIFICALLY AUTHORIZED TO DO SO BY RESOLUTION OF THE BOARD; (D) THE SUBMISSION TO THE MEMBERS OF ANY ACTION REQUIRING APPROVAL OF MEMBERS UNDER NON-PROFIT CORPORATION LAWS; (E) THE CREATION OR FILLING OF VACANCIES IN THE BOARD; (F) THE ADOPTION, AMENDMENT OR REPEAL OF THE BYLAWS; (G) THE AMENDMENT OR REPEAL OF ANY RESOLUTION OF THE BOARD THAT BY ITS TERMS IS AMENDABLE OR REPEAL-ABLE ONLY BY THE BOARD; (H) ACTION ON MATTERS COMMITTED BY THE BYLAWS OR A RESOLUTION OF THE BOARD EXCLUSIVELY TO ANOTHER COMMITTEE OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 4 ON MARCH 18, 2024, THE BYLAWS WERE AMENDED TO REDUCE THE MINIMUM NUMBER OF TRUSTEES FROM 12 TO 5, INCLUDING THE PRESIDENT OF THE UNIVERSITY AND THE CLASS A MEMBER (SEE SCHEDULE O DISCLOSURE FOR FORM 990, PART VI, SECTION A, LINE 6). FORM 990, PART VI, SECTION A, LINE 6 ALL THOSE SERVING IN THE OFFICE OF PROVINCIAL (CLASS A MEMBER) AND OF PROVINCIAL COUNCILOR (CLASS B MEMBERS) OF 'THE MISSIONARY SISTERS OF SACRED HEART OF JESUS, GUADALUPE PROVINCE' (MSC), ARE THE MEMBERS OF CABRINI UNIVERSITY. FORM 990, PART VI, SECTION A, LINE 7A THE PROVINCIAL OF MSC (OR HER DESIGNEE) AND THE PRESIDENT OF THE UNIVERSITY ARE REQUIRED TO SERVE AS EX-OFFICIO VOTING TRUSTEES. ALL OTHER ELECTED VOTING TRUSTEES MUST BE AFFIRMED BY A VOTE OF THE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS MUST APPROVE THE FOLLOWING: (A) ANY CHANGES RECOMMENDED BY THE BOARD OF TRUSTEES IN THE PHILOSOPHY, OBJECTIVES AND PURPOSE OF THE UNIVERSITY; (B) THE SALE OR OTHER DISPOSITION OF ASSETS OR THE CREATION OF ANY LIEN ON ASSETS; (C) THE MERGER OR CONSOLIDATION OF THE UNIVERSITY; (D) THE DISSOLUTION OF THE UNIVERSITY; (E) ANY CHANGES TO THE ARTICLES OF INCORPORATION OR THE BYLAWS; (F) THE FINALISTS FOR THE OFFICE OF PRESIDENT; AND (G) THE USE OF THE NAME OF THE MISSIONARY SISTERS OF THE SACRED HEART OF JESUS IN CONNECTION WITH ANY INDEBTEDNESS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM WITH INFORMATION PROVIDED BY MANAGEMENT AND REVIEWED IN ITS ENTIRETY BY MEMBERS OF MANAGEMENT AND THE ENTIRE BOARD. AFTER APPROVAL BY THE BOARD, THE FORM 990 WAS FORMALLY FILED WITH THE FEDERAL GOVERNMENT. FORM 990, PART VI, SECTION B, LINE 12C THE TRUSTEES, OFFICERS, VICE-PRESIDENTS, AND OTHER KEY PERSONNEL ARE ALL SUBJECT TO THE CONFLICT OF INTEREST (COI) POLICY AND MUST COMPLETE ANNUAL COI DISCLOSURE STATEMENTS. THE PRESIDENT OF THE UNIVERSITY DETERMINES WHO SHOULD BE CONSIDERED 'OTHER KEY PERSONNEL'. THE SECRETARY OF THE BOARD (SECRETARY) REVIEWS THE ANNUAL DISCLOSURE STATEMENTS TO DETERMINE WHETHER A MATERIAL FINANCIAL INTEREST HAS BEEN DISCLOSED. IF A MATERIAL FINANCIAL INTEREST HAS BEEN DISCLOSED, THE SECRETARY SHALL PROMPTLY SUBMIT TO THE CHAIR OF THE AUDIT, RISK, LEGAL COMPLIANCE COMMITTEE (ARLC) OR, IF THE INTERESTS INVOLVE THE CHAIR OF THE ARLC, ANOTHER MEMBER OF THE ARLC, SUCH DISCLOSURE FORMS TOGETHER WITH ANY ADDITIONAL INFORMATION ABOUT THE CURRENT OR PROPOSED TRANSACTION OR BUSINESS RELATIONSHIP THAT MAY GIVE RISE TO A CONFLICT OF INTEREST. THE ARLC SHALL REVIEW THE MATTER AND DETERMINE WHETHER THERE IS A CONFLICT OF INTEREST. IF THE ARLC DETERMINES A CONFLICT EXISTS, THERE WILL BE A FINAL REVIEW AND DECISION MADE BY THE ENTIRE BOARD. FORM 990, PART VI, SECTION B, LINE 15A FORM 990, PART VI, SECTION B, LINE 15A: COMPENSATION FOR CABRINI UNIVERSITY'S INTERIM PRESIDENT WAS DETERMINED AFTER A THOROUGH COMPENSATION COMPARATIVE ANALYSIS OF THE SPECIFIED JOB SCOPE WAS CONDUCTED. THE DATA SOURCES USED FOR COMPILATION OF SALARY STRUCTURES WERE COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION (CUPA) ADMINISTRATIVE SALARY SURVEYS, COMPARISON OF SALARIES TO ASPIRANT SCHOOLS, CHRONICLE OF HIGHER EDUCATION SALARY SURVEYS, BUREAU OF LABOR STATISTICS, AND OTHER INDEPENDENT COMPENSATION CONSULTANTS IF NEEDED. DUE TO EXTRAORDINARY CIRCUMSTANCES IN 2020 AND BEYOND, THE INTERIM PRESIDENT'S TOTAL COMPENSATION METHODOLOGY WAS ALTERED USING THE SAME COMPARATIVE DATA. THE EXECUTIVE COMPENSATION COMMITTEE AND THE INTERIM PRESIDENT PRESENTED THIS ADJUSTMENT TO THE BOARD FOR APPROVAL. THE INTERIM PRESIDENT'S SALARY AND OTHER COMPENSATION REQUIRED APPROVAL BY THE FULL BOARD. COMPENSATION DECISIONS FOR THE INTERIM PRESIDENT WERE DOCUMENTED IN THE MINUTES OF THE EXECUTIVE COMPENSATION COMMITTEE AND/OR BOARD MINUTES. THIS PROCESS LAST OCCURRED IN 2023. FORM 990, PART VI, SECTION B, LINE 15B: COMPENSATION FOR OTHER CABRINI UNIVERSITY OFFICERS AND KEY EMPLOYEES WAS DETERMINED AFTER A THOROUGH COMPENSATION COMPARATIVE ANALYSIS OF THE SPECIFIED JOB SCOPE WAS CONDUCTED. THE DATA SOURCES USED FOR COMPILATION OF SALARY STRUCTURES ARE COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION (CUPA) ADMINISTRATIVE SALARY SURVEYS, COMPARISON OF SALARIES TO ASPIRANT SCHOOLS, CHRONICLE OF HIGHER EDUCATION SALARY SURVEYS, BUREAU OF LABOR STATISTICS, AND OTHER INDEPENDENT COMPENSATION CONSULTANTS IF NEEDED. IN ADDITION, COMPENSATION FOR THESE EMPLOYEES WAS BASED ON HOW THEIR PERFORMANCE MEASURES AGAINST THEIR ANNUAL OBJECTIVES. ONCE THE SALARY SURVEY DATA WAS PRESENTED, THE INTERIM PRESIDENT REVIEWED THE DATA AND APPROVED THE FINAL PAY STRUCTURE OF THE SPECIFIED POSITION. THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD REVIEWED THE INTERIM PRESIDENT'S RECOMMENDATIONS BUT DID NOT APPROVE THESE EMPLOYEE'S SALARY OR OTHER COMPENSATION. THIS PROCESS LAST OCCURRED IN 2020. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC.