2022-02-16T16:04:20-06:00 2021-06-30 390859910 BAKER TILLY US LLP 20 STANWIX STREET PITTSBURGH PA 15222 990 2020-07-01 251125048 LA ROCHE UNIVERSITY LARO 4123679300 9000 BABCOCK BOULEVARD PITTSBURGH PA 152375808 STEPHEN M LIPPIELLO VP FINANCE/CFO 4123679300 2022-02-01 1 STEPHEN LIPPIELLO 999009999 BRIAN R LENART EA P00289136 4126976400 2022-02-01 X 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z SISTER CANDACE INTROCASO 9000 BABCOCK BOULEVARD PITTSBURGH PA 152375808 48528780 0 X WWW.LAROCHE.EDU X 1963 PA A CATHOLIC, LIBERAL ARTS BASED INSTITUTION OF HIGHER LEARNING. 29 28 636 10 0 0 4409281 3789247 38855253 38421806 185295 184054 934091 4135265 44383920 46530372 14174023 13879379 0 0 16894757 15614391 36000 0 410864 13394277 13496885 44499057 42990655 -115137 3539717 40280342 39277168 27938400 22073890 12341942 17203278 X LA ROCHE UNIVERSITY, A CATHOLIC INSTITUTION OF HIGHER LEARNING, FOUNDED AND SPONSORED BY THE CONGREGATION OF THE SISTERS OF DIVINE PROVIDENCE, FOSTERS GLOBAL CITIZENSHIP AND CREATES A COMMUNITY OF SCHOLARS FROM THE REGION, THE NATION AND AROUND THE WORLD. THE UNIVERSITY INTEGRATES LIBERAL ARTS AND PROFESSIONAL EDUCATION IN CREATIVE WAYS, EMPOWERING ALL MEMBERS OF OUR COMMUNITY TO BECOME LIFELONG LEARNERS, ACHIEVE SUCCESS IN THEIR CHOSEN CAREERS AND PROMOTE JUSTICE AND PEACE IN A CONSTANTLY CHANGING GLOBAL SOCIETY. 0 0 35751112 13879379 38421806 LA ROCHE HONORS THE TRADITIONS AND VALUES OF THE CHARISM OF THE SISTERS OF DIVINE PROVIDENCE BY CONTINUALLY STRIVING TO BE THE "BEST FOR THE WORLD AND BRING LIGHT TO EVERY SITUATION WE ENCOUNTER. LA ROCHE SEEKS TO MAKE EDUCATION TRULY ACCESSIBLE TO STUDENTS FROM ALL OVER THE WORLD AND PREPARE ALL STUDENTS TO BE SOCIALLY RESPONSIBLE GLOBAL CITIZENS. THROUGH UNMATCHED CURRICULAR AND CO-CURRICULAR OPPORTUNITIES, LA ROCHE INTENDS TO BE THE STUDENT-CENTERED HIGHER EDUCATION INSTITUTION OF CHOICE IN THE PITTSBURGH REGION. STUDENTS WILL RECEIVE A STRONG LIBERAL ARTS EDUCATION GROUNDED IN THE CATHOLIC TRADITION, WHILE ALSO DEVELOPING CAREER READY SKILLSETS THROUGH A MYRIAD OF APPLIED-LEARNING OPPORTUNITIES. LA ROCHE WILL BECOME PITTSBURGH'S NEWEST UNIVERSITY, ONE THAT OFFERS ITS STUDENTS TRANSFORMATIVE EXPERIENCES WITHIN A SAFE, CARING, AND INCLUSIVE COMMUNITY. QUALITY EDUCATION:LA ROCHE UNIVERSITY OFFERS ITS STUDENTS A HIGH VALUE EDUCATION WHICH BALANCES THE REALITY OF CAREER PREPARATION WITH THE ESSENTIALS OF A CLASSICAL LIBERAL ARTS CURRICULUM. THE CURRICULUM IS CHARACTERIZED BY A STRONG GLOBAL PERSPECTIVE, INTERDISCIPLINARY COURSES, AND SIGNATURE UNDERGRADUATE AND GRADUATE PROFESSIONAL PROGRAMS. THE FACULTY IS DIVERSE AND POSSESSES BOTH ACADEMIC AND PROFESSIONAL CREDENTIALS. IN KEEPING WITH THE GLOBAL COMPASS OF ITS MISSION, THE UNIVERSITY RECRUITS STUDENTS FROM BOTH ITS TRADITIONAL HOME BASE IN WESTERN PENNSYLVANIA, NUMEROUS OTHER STATES, AND MANY FOREIGN COUNTRIES. THE UNIVERSITY STRIVES TO ENROLL ACADEMICALLY SUPERIOR STUDENTS OF DIVERSE RELIGIOUS, ETHNIC, RACIAL, AND SOCIOECONOMIC BACKGROUNDS AND ENSURES THAT STUDENTS WITH LESSER PREPARATION ARE FURNISHED THE ASSISTANCE THEY NEED TO ENABLE THEM TO ACHIEVE ACADEMIC AND CAREER SUCCESS.LA ROCHE UNIVERSITY HAS AN ACADEMIC CULTURE THAT EMPHASIZES OUTCOMES BASED ASSESSMENT OF STUDENT ACHIEVEMENT. THE MORAL COMPONENT OF EDUCATION IS EMPHASIZED AND AN UNDERSTANDING OF THE CATHOLIC TRADITION AND OTHER RELIGIOUS TRADITIONS IS AVAILABLE TO THOSE STUDENTS WHO WISH TO EXPLORE THEIR FAITH IN AN ACADEMIC ENVIRONMENT.MISSION AND IDENTITY:LA ROCHE OFFERS HIGH-QUALITY EDUCATIONAL OPPORTUNITIES THAT REFLECT ITS CATHOLIC HERITAGE AND THE MISSION OF ITS FOUNDING AND SPONSORING CONGREGATION, THE CONGREGATION OF DIVINE PROVIDENCE, TO "CO-CREATE A WORLD OF COMPASSION, JUSTICE AND PEACE". THAT COMMITMENT TO PEACE AND JUSTICE PERMEATES ALL ASPECTS OF THE UNIVERSITY - SPIRITUAL, ACADEMIC, SOCIAL, INTERCULTURAL, AND COMMUNITY SERVICE. THAT COMMITMENT IS REFLECTED IN THE UNIVERSITY'S GLOBAL FOCUS, WHICH PROVIDES THE ENTIRE LA ROCHE COMMUNITY WITH THE OPPORTUNITY TO REACH ACROSS THE POLITICAL, CULTURAL, AND ECONOMIC DIVIDES AND WORK TOWARD BECOMING A TRUE GLOBAL COMMUNITY. STUDENT SUCCESS:THE SUCCESS OF OUR STUDENTS IS OF PARAMOUNT IMPORTANCE IN ALL THAT WE DO AT THE UNIVERSITY. WE ARE COMMITTED TO PROVIDING A LEARNING ENVIRONMENT WHICH IS CONDUCIVE TO ACADEMIC ACHIEVEMENT, ENHANCED BY AN OVERALL CAMPUS ENVIRONMENT THAT CONTRIBUTES TO THE MENTAL, PHYSICAL, SPIRITUAL AND EMOTIONAL DEVELOPMENT OF OUR STUDENTS. ALL THIS IS ACCOMPLISHED NOT ONLY THROUGH THE PROVISION OF APPROPRIATE RESOURCES, BUT ALSO THROUGH THE EXAMPLE AND CARING INTERACTION OF THE FACULTY, STAFF AND ADMINISTRATION, BOTH INSIDE AND OUTSIDE OF THE CLASSROOM.THE UNIVERSITY'S MISSION EMBODIES THE KEY ELEMENTS OF STUDENT SUCCESS. ONE IS THE ABILITY OF STUDENTS TO BECOME ACCOMPLISHED PRACTITIONERS IN THEIR CHOSEN FIELDS WHO ARE IMBUED WITH A LIFELONG THIRST FOR KNOWLEDGE. ANOTHER IS THE ABILITY FOR STUDENTS TO TRULY VIEW THEMSELVES AS CITIZENS OF A GLOBAL SOCIETY. FINALLY, STUDENT SUCCESS IS SEEN IN THE WOMEN AND MEN OF ALL AGES, FAITHS, NATIONALITIES AND BACKGROUNDS WHO, AFTER THEIR TIME AT THE UNIVERSITY, GO FORTH INTO THE WORLD SUFFUSED WITH A DESIRE TO PROMOTE PEACE AND JUSTICE WHEREVER THEY GO, AND WHO, IN SO DOING, CONTINUE TO DEMONSTRATE THAT LA ROCHE UNIVERSITY IS PREPARING STUDENTS WHO TRULY ARE THE BEST FOR THE WORLD.STEWARDSHIP OF RESOURCES:ADEQUATE RESOURCES ARE VITAL TO THE SUCCESS OF LA ROCHE UNIVERSITY. WE ARE COMMITTED TO UTILIZATION OF AVAILABLE RESOURCES IN A MANNER THAT ACHIEVES MAXIMUM EFFECTIVENESS FOR THE UNIVERSITY, ENSURING THE WISE AND EFFICIENT USE OF OUR RESOURCES WHILE RESPECTING THE LARGER ENVIRONMENT THROUGH SUSTAINABILITY.LA ROCHE'S INITIATIVES CLUSTER UNDER FOUR STRATEGIC THEMES DEFINED AS FOLLOWS:- ACADEMIC QUALITY AND DISTINCTION - LA ROCHE WILL BE A GROWING INSTITUTION OF DISTINCTION. WE WILL BE KNOWN FOR OUR ACADEMIC PROGRAMS, OUR FAR-REACHING INFLUENCES, THE QUALITY OF OUR FACULTY, AND THE ACADEMIC DEVELOPMENT OF OUR STUDENTS. THE GROWTH AND DEVELOPMENT OF THE FACULTY AND THE NEW PROGRAMS LA ROCHE DEVELOPS TO EDUCATE WELL-ROUNDED AND WORKFORCE-READY STUDENTS WILL WORK TO ENHANCE AND BROADEN OUR REPUTATION. - GLOBAL IDENTITY - BUILDING ON THE WORK ALREADY BEGUN, LA ROCHE UNIVERSITY WILL BE KNOWN FOR THE IMPACT IT HAS ON THE WORLD. STUDENTS AND FACULTY WILL HAVE AN UNMATCHED OPPORTUNITY FOR MULTICULTURAL EXPERIENCES BOTH ON CAMPUS AND ABROAD. OUR GRADUATES WILL ENTER THE WORLD WITH AN APPRECIATION OF JUSTICE, PEACE, AND GLOBAL CITIZENSHIP FOUNDATIONAL VALUES OF THE DIVINE PROVIDENCE CHARISM. - TRANSFORMATIVE EXPERIENCES - LA ROCHE UNIVERSITY WILL BE A COMMUNITY THAT TRANSFORMS STUDENTS AND PREPARES THEM FOR LIFE AFTER UNIVERSITY. STUDENTS OF ALL BACKGROUNDS WILL EXPERIENCE A WELCOMING ENVIRONMENT CONSISTENT WITH OUR FOUNDATIONAL VALUES. STUDENTS WILL BE ENCOURAGED, ENRICHED, AND ENGAGED IN AND OUT OF THE CLASSROOM. GRADUATION RATES AND RETENTION RATES WILL INCREASE AND STUDENTS WILL LEAVE LA ROCHE AS TRANSFORMED INDIVIDUALS AND AS COMMITTED ALUMNI.- STRATEGIC AND MANAGED GROWTH - LA ROCHE UNIVERSITY WILL BE A LARGER CAMPUS SERVING DIVERSE STUDENTS AND THE WORLD. UTILIZING TECHNOLOGY AND RECOGNIZING CHANGING DEMOGRAPHICS OF UNIVERSITY LEARNERS WILL BE CRITICAL TO ENSURING THE GROWTH OF THE UNIVERSITY. RESOURCES FOR THE UNIVERSITY WILL BE ENHANCED THROUGH ENROLLMENT GROWTH, FUNDRAISING, AND THE DEVELOPMENT OF FACILITIES. 35751112 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 1 0 0 0 1 2360 0 636 1 0 0 0 0 0 0 0 0 0 0 0 0 X 29 28 1 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 1 1 0 0 PA X STEPHEN M LIPPIELLO VP FINANCECFO 4125361047 9000 BABCOCK BOULEVARD PITTSBURGH PA 152375808 BRADLEY J FRANC ESQ CHAIR 5.00 1.00 X X 0 0 0 ERNESTINE HARRIS VICE-CHAIR 5.00 1.00 X X 0 0 0 KAREN WILLOUGHBY SECRETARY 5.00 1.00 X X 0 0 0 SISTER CANDACE INTROCASO CDP PHD PRESIDENT 40.00 1.00 X X 226754 0 44268 GODFREY BIRAVANGA CPA MBA TRUSTEE 5.00 1.00 X 0 0 0 AMR M ELRIFAI MD MPH TRUSTEE 5.00 1.00 X 0 0 0 DIONE L GRASWICK TRUSTEE 5.00 1.00 X 0 0 0 WILLIAM F GRUBER TRUSTEE 5.00 1.00 X 0 0 0 SISTER JOAN MARIE HARPER CDP TRUSTEE 5.00 1.00 X 0 0 0 SUSAN E HOOLAHAN TRUSTEE 5.00 1.00 X 0 0 0 ROBERT J HOWARD TRUSTEE 5.00 1.00 X 0 0 0 MICHAEL D KENITZ TRUSTEE 5.00 1.00 X 0 0 0 ROSE MARIE MANLEY CTP TRUSTEE 5.00 1.00 X 0 0 0 SISTER MARY MICHAEL MCCULLA CDP TRUSTEE 5.00 1.00 X 0 0 0 MICHAEL A MLINAC TRUSTEE 5.00 1.00 X 0 0 0 JOHN EDWARD NAPOLITANO TRUSTEE 5.00 1.00 X 0 0 0 SISTER LISA PAFFRATH CDP TRUSTEE 5.00 1.00 X 0 0 0 ROB ROBINSON PHD TRUSTEE 5.00 1.00 X 0 0 0 GREGORY K SIMAKAS CIMA TRUSTEE 5.00 1.00 X 0 0 0 CRAIG A TILLOTSON TRUSTEE 5.00 1.00 X 0 0 0 NICHOLAS D VARISCHETTI ESQ TRUSTEE 5.00 1.00 X 0 0 0 MARY ELIZABETH ALBAUGH TRUSTEE 5.00 1.00 X 0 0 0 LYLE D ALBAUGH TRUSTEE 5.00 1.00 X 0 0 0 MALESIA DUNN TRUSTEE 5.00 1.00 X 0 0 0 RALPH A FALBO JR TRUSTEE 5.00 1.00 X 0 0 0 JAMES C GALLAGHER TRUSTEE 5.00 1.00 X 0 0 0 CYNTHIA B PICCIRILLI MD TRUSTEE 5.00 1.00 X 0 0 0 ANTHONY F ROCCO TRUSTEE 5.00 1.00 X 0 0 0 JACK A ZDURIENCIK TRUSTEE 5.00 1.00 X 0 0 0 KATHRYN A JOLLEY TRUSTEE (UNTIL 02/2021) 5.00 1.00 X 0 0 0 SISTER INESITA VELEZ NEGRON CDP TRUSTEE (UNTIL 02/2021) 5.00 1.00 X 0 0 0 HOWARD J ISHIYAMA PHD PROVOST, SR VP ACAD AFFAIR 40.00 1.00 X 159033 0 6298 STEPHEN M LIPPIELLO VP FOR FIN/ADMIN, CFO 40.00 1.00 X 155769 0 457 JAMES E WEISGERBER PHD VP ENROLLMENT MANAGEMENT 40.00 1.00 X 127976 0 13972 COLLEEN C RUEFLE VP STUDENT LIFE/DEAN 40.00 1.00 X 129450 0 5156 SHEILA K MUELLER PROFESSOR 40.00 X 128960 0 8977 ROSEMARY D MCCARTHY PROFESSOR 40.00 X 116063 0 3943 THOMAS G SCHAEFER ASSOCIATE VP ACADEMIC AFFAIRS 40.00 X 101090 0 8651 JEAN C FORTI PROFESSOR 40.00 X 101074 0 7992 LYNN K ARCHER PROFESSOR 40.00 X 100202 0 8113 1346371 0 107827 10 0 1 0 SYNERGIS EDUCATION 1201 S ALMA SCHOOL ROAD MESA AZ 85210 RECRUITING 1248910 SAGE DINING SERVICES INC 1402 YORK RD STE 100 LUTHERVILLE MD 21093 FOOD AND DINING 793809 TOM BROWN PERFORMANCE FLOORS 224 GEORGETOWN ROAD LAWRENCE PA 15055 FLOORING INSTALLATION 235400 JENZABER PO BOX 55018 BOSTON MA 02205 SOFTWARE 193780 IHEARTMEDIA PO BOX 419499 BOSTON MA 02241 ADVERTISING 175429 10 2716505 1072742 29520 3789247 TUITION AND FEES 611600 33816164 33816164 RESIDENCE HALL REVENUE 611600 4555483 4555483 DINING SERVICE REVENUE 611600 28035 28035 BOOKSTORE REVENUE 611600 16588 16588 OTHER AUXILIARY SERVICE 611600 5536 5536 38421806 150746 150746 475760 0 475760 475760 475760 2011716 20000 1998408 0 13308 20000 33308 33308 PPP LOAN FORGIVENESS 900099 3016635 3016635 CDP SERVICES 900099 216096 216096 CONFERENCES 900099 54854 54854 371920 371920 3659505 46530372 38421806 0 4319319 13879379 13879379 819820 819820 12142410 10000393 1819348 322669 1739826 1064678 653648 21500 912335 551704 336504 24127 123483 123483 37730 37730 26865 26865 4014321 2882561 1128849 2911 684816 491745 193064 7 347105 249246 86728 11131 438192 314652 111301 12239 1052982 756114 296796 72 43230 31042 11756 432 814439 791980 22459 3129260 3026564 102696 215773 42302 173471 REPAIRS & MAINTENANCE 679876 488198 191678 0 FOOD SERVICE 431487 309838 121584 65 BAD DEBT 370597 0 370597 0 SERVICE CHARGES 267438 192039 75396 3 819291 490599 312984 15708 42990655 35751112 6828679 410864 1750 1750 3276905 3348086 605859 500729 1517951 1289651 738883 1190130 207854 268598 75950130 50680375 27798835 25269755 6075815 7345325 49492 56146 6998 6998 40280342 39277168 1429555 1998705 1213875 1545282 17980566 16224447 5126421 1772764 1597042 0 590941 532692 27938400 22073890 X 7015737 10853009 5326205 6350269 12341942 17203278 40280342 39277168 3539717 1321619 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 0 6125307 22539 1453134 199509 7401471 6068411 49925 205375 198404 6125307 5917354 60693 311737 221373 6068411 6826457 44398 278511 1051977 180035 5917354 6311243 49901 635183 169870 6826457 0.46000 0.54000 0 0 457938 457938 56712804 37136512 19576292 4687063 2611882 2075181 11302345 8553808 2748537 2789980 2378173 411807 25269755 STUDENT DEPOSITS 281923 U.S. GOVERNMENT GRANTS REFUNDABLE 201835 CAPITAL LEASES 48934 532692 X 34850790 1321619 -13001201 -11679582 46530372 0 46530372 29989454 0 29989454 13001201 13001201 42990655 PART III, LINE 4: THE ORGANIZATION'S COLLECTION IS LIMITED TO, AND CONSISTS PRIMARILY OF, RELIGIOUS ARTWORK IN SUPPORT OF OUR CATHOLIC IDENTITY. PART V, LINE 4: ENDOWMENT FUNDS MAY BE USED FOR SCHOLARSHIPS AND GENERAL SUPPORT OF OPERATIONS IN ACCORDANCE WITH THE SPENDING POLICY APPROVED BY THE BOARD OF TRUSTEES. PART X, LINE 2: THE UNIVERSITY ACCOUNTS FOR UNCERTAINTIES IN INCOME TAXES IN ACCORDANCE WITH AUTHORITATIVE GUIDANCE, WHICH PRESCRIBES A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MANAGEMENT HAS DETERMINED THAT THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD AT JUNE 30, 2021 AND 2020. PART XI, LINE 2D - OTHER ADJUSTMENTS: STUDENT AID NETTED AGAINST REVENUES ON FINANCIALS -12,974,336. INVESTMENT MANAGEMENT FEES NETTED AGAINST REVENUES ON FINANCIALS -26,865. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID NETTED AGAINST REVENUES ON FINANCIALS 12,974,336. INVESTMENT MANAGEMENT FEES NETTED AGAINST REVENUES ON FINANCIALS 26,865. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE UNIVERSITY ADMITS QUALIFIED STUDENTS OF ANY SEX, RACE, COLOR, HANDICAP, RELIGION, NATIONAL AND ETHNIC ORIGIN, VETERAN STATUS AND SEXUAL ORIENTATION TO ALL THE RIGHTS, PRIVILEGES, AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS AT THE UNIVERSITY. LA ROCHE UNIVERSITY DOES NOT DISCRIMINATE IN THE ADMINISTRATION OF ITS EDUCATIONAL PROGRAMS, ADMISSION POLICIES AND PROCESSES, EMPLOYMENT PRACTICES, SCHOLARSHIP AND LOAN PROGRAMS, ATHLETIC AND OTHER UNIVERSITY-ADMINISTERED PROGRAMS. LA ROCHE UNIVERSITY'S NON-DISCRIMINATION POLICY IS ADMINISTERED IN ACCORDANCE WITH TITLE IX OF THE 1972 EDUCATIONAL AMENDMENTS AND ALL OTHER APPLICABLE FEDERAL AND PENNSYLVANIA STATUTES. SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVES AN INSTITUTIONAL ASSISTANCE GRANT FROM THE STATE OF PENNSYLVANIA ANNUALLY AND HAS RECEIVED FEDERAL AND STATE GRANTS OCCASIONALLY IN SUPPORT OF CONSTRUCTION PROJECTS AND ACADEMIC PROGRAMS. 1 FINANCIAL AID 1332 12755941 218395 FAIR MARKET VALUE FINANCIAL AID CARES HERF STUDENT AID 540 905043 0 N/A N/A PART I, LINE 2: THE UNIVERSITY AWARDS FINANCIAL AID PRIMARILY BASED UPON ACADEMIC MERIT. THE FUNDS ARE AWARDED VIA ADHERENCE TO A MATRIX WHICH DETERMINES THE AMOUNTS BASED UPON GRADE POINT AVERAGE AND SAT SCORES. X X X 1 1 X X 0 0 0 0 0 0 0 0 0 SISTER CANDACE INTROCASO CDP PHD PRESIDENT 226754 0 0 0 0 0 8932 0 35336 0 271022 0 0 0 HOWARD J ISHIYAMA PHD PROVOST, SR VP ACAD AFFAIR 159033 0 0 0 0 0 5772 0 526 0 165331 0 0 0 STEPHEN M LIPPIELLO VP FOR FIN/ADMIN, CFO 155769 0 0 0 0 0 0 0 457 0 156226 0 0 0 PART I, LINE 1A THE UNIVERSITY'S PRESIDENT, SISTER CANDACE INTROCASO, IS PROVIDED WITH A RESIDENCE FOR PERSONAL USE AND THE UNIVERSITY SATISFIES COSTS OF CLEANING. THE UNIVERSITY ALSO SATISFIES SOCIAL CLUB DUES IN HER NAME. THE PRESIDENT IS A MEMBER OF A RELIGIOUS ORDER AND IS NOT SUBJECT TO INCOME TAXES. THE ANNUAL VALUE OF HER HOME IS $30,345. THIS INCLUDES A MORTGAGE PAYMENT BASED UPON THE ORIGINAL COSTS INCURRED DURING CLOSING WITH A 30 YR. MORTGAGE AND A RATE OF 5.5%, AND COST OF INSURANCE COVERAGE. THIS DOES NOT INCLUDE PROPERTY TAXES AS THE OWNER (LA ROCHE UNIVERSITY) IS TAX-EXEMPT. THERE IS NO ESTIMATE OF UTILITY COSTS/ REPAIRS/ CLEANING AND LAWN SERVICE INCLUDED WHICH IS ALSO PAID BY THE UNIVERSITY. THE ANNUAL VALUE OF HER LEASED VEHICLE IS $7,555. THIS DOES NOT INCLUDE GASOLINE NOR ANY RELATED MAINTENANCE/ REPAIRS. A MCCANDLESS INDUSTRIAL DEVELOPMENT AUTHORITY 251349346 2014-03-31 9878033 REFUND PRIOR ISSUE 0 0 0 B MOON INDUSTRIAL DEVELOPMENT AUTHORITY 251398575 2014-03-31 9065987 REFUND PRIOR ISSUE 0 0 0 C MCCANDLESS INDUSTRIAL DEVELOPMENT AUTHORITY 251349346 2019-06-04 8000000 SEE PART VI 0 0 0 A 3744157 9878033 98598 9779435 2014 1 0 1 1 B 3436330 9065987 93171 9065987 2014 1 0 1 1 C 472037 5692051 81847 5610204 1 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 1 0 0 0 0 1 B 1 0 0 0 0 1 C 0 0 0 0 0 0 0 0 1 A 1 B 1 C 1 SCHEDULE K, PART I, BOND ISSUES: (A) ISSUER NAME: MCCANDLESS INDUSTRIAL DEVELOPMENT AUTHORITY (F) DESCRIPTION OF PURPOSE: THE SERIES A BONDS OF 2019 ($6M) ARE TO BE USED FOR PURCHASE AND CONSTRUCTION OF PROPERTY, PLANT, AND EQUIPMENT. THE SERIES B BONDS OF 2019 ($2M) ARE TO BE USED FOR ISSUANCE COSTS AND TO CURRENTLY REFUND A PORTION OF THE 2014 SERIES BONDS. SCHEDULE K, PART II, LINE 3, PROCEEDS OF ISSUE: ISSUE C: THE DIFFERENCE BETWEEN THE ISSUE PRICE AND PROCEEDS OF ISSUE REPRESENTS THE AMOUNT OF BONDS THAT HAVE NOT BEEN DRAWN DOWN BY THE UNIVERSITY AS OF 6/30/2021. SUSAN E HOOLAHAN TRUSTEE 864419 SEE PART V 0 MICHAEL D KENITZ TRUSTEE 211154 SEE PART V 0 SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (A) NAME OF PERSON: SUSAN E. HOOLAHAN(D) DESCRIPTION OF TRANSACTION: MS. SUSAN IS PRESIDENT AT THE UPMC PASSAVANT HOSPITAL AND UPMC PROVIDES HEALTH AND WORKERS COMP INSURANCE TO LA ROCHE UNIVERSITY. ALL TRANSACTIONS ARE CARRIED OUT AT ARMS' LENGTH.(A) NAME OF PERSON: MICHAEL D. KENITZ(D) DESCRIPTION OF TRANSACTION: MR. KENITZ IS PART OF THE CLAIMS PRACTICE LEADER, AN INSURANCE COMPANY, WHICH SERVES AS INSURANCE PLAN BROKER FOR LA ROCHE UNIVERSITY. X 3 29520 MARKET VALUE 0 1 1 PART I, COLUMN (B): THE NUMBER IN PART I, COLUMN B REPRESENTS THE TOTAL NUMBER OF CONTRIBUTORS. PART I, LINE 32B: LA ROCHE UNIVERSITY USES FRAGASSO FINANCIAL ADVISORS TO SELL THE NON-CASH STOCK CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 1 BETWEEN MEETINGS OF THE BOARD, THE EXECUTIVE COMMITTEE SHALL HAVE GENERAL SUPERVISION OF THE ADMINISTRATION AND PROPERTY OF THE UNIVERSITY EXCEPT THAT UNLESS SPECIFICALLY EMPOWERED BY THE BOARD TO DO SO, IT MAY NOT TAKE ANY ACTION INCONSISTENT WITH A PRIOR ACT OF THE BOARD, AWARD DEGREES, ALTER BYLAWS, LOCATE PERMANENT BUILDINGS ON TAX-EXEMPT PROPERTY HELD FOR UNIVERSITY PURPOSES, REMOVE OR APPOINT THE PRESIDENT OF THE UNIVERSITY, OR TAKE ANY ACTION WHICH HAS BEEN RESERVED FOR THE BOARD OR EXERCISE SUCH POWERS AS CANNOT BE DELEGATED BY APPLICABLE LAW. ALL EXECUTIVE COMMITTEE MEMBERS ARE MEMBERS OF THE BOARD OF TRUSTEES AND INCLUDE THE CHAIR, THE VICE CHAIR, THE CHAIR OF THE FINANCE COMMITTEE, THE CHAIR OF THE HUMAN RESOURCE COMMITTEE, THE CHAIR OF TRUSTEES COMMITTEE, THE CDP PROVINCIAL DIRECTOR, THE PRESIDENT AND A TRUSTEE AT-LARGE. FORM 990, PART VI, SECTION A, LINE 2 LYLE AND MARY ELIZABETH ALBAUGH ARE HUSBAND AND WIFE AND ARE BOTH MEMBERS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE PROVINCIAL COUNCIL OF THE SISTERS OF DIVINE PROVIDENCE HAVE RESERVED POWERS, E.G., TO ACCEPT OR REJECT A PRESIDENTIAL NOMINEE, APPROVE SALE OR DISTRIBUTION OF ASSETS, ETC. FORM 990, PART VI, SECTION B, LINE 11B THE RETURN IS REVIEWED INITIALLY BY THE UNIVERSITY'S CHIEF FINANCIAL OFFICER AND IS THEN PRESENTED TO THE AUDIT COMMITTEE OF THE BOARD FOR REVIEW AND APPROVAL. AN ELECTRONIC COPY OF THE RETURN IS THEN PROVIDED TO EACH MEMBER OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C THE SECRETARY TO THE BOARD/GENERAL COUNSEL ANNUALLY COMPILES, MAINTAINS, AND SCREENS A LIST OF POTENTIALLY CONFLICTED ENTITIES AND INDIVIDUALS, INCLUDING BOARD MEMBERS AND KEY EMPLOYEES FOR POSSIBLE CONFLICTS OF INTEREST. THE UNIVERSITY TAKES APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION IF A PERSON WHO IS COVERED BY THE CONFLICT OF INTEREST POLICY FAILS TO DISCLOSE AN ACUTAL OR POSSIBLE CONFLICT OF INTEREST. NO PERSON VOTES ON ANY MATTER UNDER CONSIDERATION AT A BOARD OR COMMITTEE MEETING IN WHICH SUCH PERSON HAS A CONFLICT OF INTEREST. THE MINUTES OF SUCH MEETING WILL REFLECT THAT A DISCLOSURE WAS MADE AND THAT THE PERSON HAVING A CONFLICT ABSTAINED FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES CONDUCTS AN ANNUAL REVIEW OF THE PRESIDENT, WHICH INCLUDES AN EVALUATION OF THE PRESIDENT'S COMPENSATION. CONSIDERATION IS GIVEN TO COMPENSATION LEVELS PROVIDED TO PRESIDENTS AT PEER INSTITUTIONS. DURING THE 2015 FISCAL YEAR, THE UNIVERSITY INTRODUCED A COMPENSATION PROGRAM WHICH CLASSIFIED EACH POSITION INTO A PAY GRADE AND COMPARED EACH PAY GRADE TO PEER INSTITUTIONS. A BENCHMARK HAS BEEN ESTABLISHED TO ASSESS EACH EMPLOYEE'S COMPENSATION IN FUTURE PERIODS. FORM 990, PART VI, SECTION C, LINE 19 ALL RELEVANT DOCUMENTS, INCLUDING THE CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE UPON REQUEST. PACEM IN TERRIS INSTITUTE 9000 BABCOCK BOULEVARD PITTSBURGH PA 15237 251733322 PROVIDE STUDENT AID FOR HIGHER LEARNING PA 501(C)(3) LINE 12A, I N/A 0 CONGREGATION OF DIVINE PROVIDENCE 9000 BABCOCK BOULEVARD PITTSBURGH PA 15237 250965565 PROVIDE STUDENT AID FOR HIGHER LEARNING PA 501(C)(3) LINE 12A, I N/A 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 1 1 1 0 0