2022-05-12T16:18:02-05:00 2021-06-30 135565207 KPMG LLP 60 SOUTH STREET BOSTON MA 02111 990 2020-07-01 050258932 PROVIDENCE COLLEGE PROV 4018651000 ONE CUNNINGHAM SQUARE PROVIDENCE RI 02918 JOHN M SWEENEY SR VP FINANCE/CFO 4018652281 2022-05-15 1 JOHN SWEENEY 999009999 TODD P TERESCO P00247720 6179881000 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z REV KENNETH SICARD OP ONE CUNNINGHAM SQUARE PROVIDENCE RI 02918 433875985 0 X WWW.PROVIDENCE.EDU X 1917 RI PROVIDENCE COLLEGE IS A CATHOLIC, DOMINICAN, LIBERAL ARTS INSTITUTION OF HIGHER EDUCATION AND A COMMUNITY COMMITTED TO ACADEMIC EXCELLENCE. 37 33 2662 38 -197064 0 20466943 30238417 274133915 274133730 1336322 20596965 3363531 2782787 299300711 327751899 84261100 89290305 0 0 116446740 114740206 0 134259 4723101 94482826 97687509 295190666 301852279 4110045 25899620 748292244 914914351 179457582 243641869 568834662 671272482 SEE SCHEDULE O. 0 0 237437543 89290305 275347325 SEE SCHEDULE O 237437543 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 1 1 0 1 0 1 1 0 0 0 1 1 1 0 0 1 5338 0 1 2662 1 1 1 0 0 0 0 1 1 0 0 0 0 1 0 X 37 33 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 CO KY MA MI NH PA SC X JOHN SWEENEY SVP FINANCECFO 4018652281 ONE CUNNINGHAM SQUARE PROVIDENCE RI 02918 ANN MANCHESTER MOLAK EVP & TRUSTEE (BEG 7.1.20) 40.00 X X 306908 0 31478 REV KENNETH R SICARD OP PRESIDENT & TRUSTEE 40.00 X X 0 0 41832 KARL W ANDERSON TRUSTEE 2.00 X 0 0 0 JOSEPH M CALABRIA JR TRUSTEE 2.00 X 0 0 0 JOHN A CERVIONE TRUSTEE 2.00 X 0 0 0 ROBERT J CLARK TRUSTEE 2.00 X 0 0 0 WILLIAM F CONCANNON TRUSTEE 2.00 X 0 0 0 THOMAS P CORCORAN TRUSTEE 2.00 X 0 0 0 JOHN P DAWLEY TRUSTEE 2.00 X 0 0 0 SHARON T DRISCOLL TRUSTEE 2.00 X 0 0 0 COLLEEN M DUFFY BOARD SECRETARY 3.00 X X 0 0 0 SUSAN M ESPER BOARD V CHAIR/AUDIT COMM C 2.00 X X 0 0 0 HENRY C FOLEY TRUSTEE 2.00 X 0 0 0 REV EDWARD M GORMAN TRUSTEE 2.00 X 0 0 0 RICHARD E GOTHAM TRUSTEE 2.00 X 0 0 0 V REV ACQUINAS GUILBEAU OP TRUSTEE 2.00 X 0 0 0 JOHN J HOULIHAN TRUSTEE 2.00 X 0 0 0 MICHAEL J JOYCE TRUSTEE 2.00 X 0 0 0 DOUGLAS A KINGSLEY TRUSTEE 2.00 X 0 0 0 DENNIS J LANGWELL TRUSTEE 2.00 X 0 0 0 V REV KENNETH R LETOILLE O TRUSTEE 2.00 X 0 0 0 JOHN R MCCARTHY TRUSTEE 2.00 X 0 0 0 ANDRE E OWENS ESQ TRUSTEE 2.00 X 0 0 0 KEVIN C PHELAN TRUSTEE 2.00 X 0 0 0 JOHN J POWERS TRUSTEE 2.00 X 0 0 0 KEVIN P QUIRK TRUSTEE 2.00 X 0 0 0 CHRISTOPHER K REILLY BOARD CHAIR 2.00 X X 0 0 0 MEGAN C SMITH TRUSTEE 2.00 X 0 0 0 MOST REV THOMAS J TOBIN DD TRUSTEE 4.00 X 0 0 0 CHRISTOPHER F VIRGULAK TRUSTEE 2.00 X 0 0 0 MARK T VOLL TRUSTEE 2.00 X 0 0 0 MONICA DENISE WOMACK TRUSTEE 2.00 X 0 0 0 REV FRANCIS BELANGER TRUSTEE 2.00 X 0 0 0 GREGORY S CHRISTENSON TRUSTEE 2.00 X 0 0 0 MAUREEN DAVENPORT CORCORAN TRUSTEE 2.00 X 0 0 0 TERESA A LAVOIE TRUSTEE 2.00 X 0 0 0 REV MICHAEL A MASCARI TRUSTEE 2.00 X 0 0 0 ROBERT DRISCOLL VP & DIRECTOR OF ATHLETICS 40.00 X 498764 0 92644 GREGORY WALDRON SR VP INSTITUTIONAL ADVANCEMENT 40.00 X 473022 0 45328 HUGH LENA SR VP ACADEMIC AFFAIRS/PROVOST 40.00 X 364448 0 36040 JOHN SWEENEY SR VP FINANCE & BUSINESS/CFO 40.00 X 322444 0 41237 CHRISTOPHER NERONHA VP & GEN COUNSEL 40.00 X 276110 0 16151 REV JAMES CUDDY OP VP MISSION & MINISTRY 40.00 X 0 0 17061 REV KEVIN D ROBB OP TREASURER 40.00 X 0 0 10440 STEVEN SEARS VP STUDENT SERVICES (BEG 12.1.20) 40.00 X 217140 0 13198 SEAN REID BEG 7120 SR. VP ACADEMIC AFFAIRS/PROVOST 40.00 X 202760 0 14906 EDWARD COOLEY MENS BASKETBALL COACH 40.00 X 3594791 0 156321 NATHAN LEAMAN MENS HOCKEY COACH 40.00 X 558621 0 98953 JAMES CROWLEY WOMEN'S BASKETBALL COACH 40.00 X 435158 0 44664 SYLVIA MAXFIELD DEAN SCHOOL OF BUSINESS 40.00 X 319097 0 34779 STEVEN NAPOLILLO ASST VP/SR ASSOC AD EXT RE 40.00 X 294650 0 34260 KRISTINE GOODWIN VP STUDENT AFFAIRS 40.00 X 340086 0 40543 8203999 0 769835 236 1 1 0 SODEXO INC 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20878 FOOD SERVICES 8816838 UG2 LLC 116 HUNGTINGTON AVENUE 12TH FLOOR BOSTON MA 02116 JANITORIAL SERVICES 4656496 CLINICAL RESEARCH SEQUENCING PLATFORM L 415 MAIN ST CAMBRIDGE MA 02142 CLINICAL SERVICES 2905750 UNITED HEALTHCARE INSURANCE CO 9900 BREN RD E MINNETONKA MN 55343 ADMINISTRATIVE SERVICES 1563183 HELIN INC 1643 WARWICK AVW 425 WARWICK RI 02889 ONLINE SERVICES 1116828 61 848035 6210828 23179554 1778564 30238417 TUITION & FEES 611600 230004218 230004218 ROOM REVENUE 721000 26538233 26538233 BOARD REVENUE 721000 14324902 14324902 ATHLETICS REVENUE 900099 3163127 3163127 AUXILIARY REVENUE 721000 103250 103250 274133730 1123638 -197064 1320702 425000 425000 104600 95874 8726 8726 8726 125042510 105569183 19473327 19473327 19473327 333420 848035 459029 -125609 -125609 COMMISSIONS 900099 809164 809164 PACT PROGRAM 900099 429504 429504 SODEXO 900099 333334 333334 902668 450757 451911 2474670 327751899 275347325 -197064 22363221 49572 49572 89240733 89240733 3282364 1820620 1115776 345968 99065 99065 88506413 59691873 26047722 2766818 895993 599751 261713 34529 15392702 10288235 4489474 614993 6563669 4383421 1912792 267456 141395 141395 276390 276390 18000 12532 5468 134259 134259 2220001 2220001 8694289 6013799 2624240 56250 592313 412368 179945 2207893 1493074 651532 63287 3684110 2564876 1119234 5550811 3864472 1686339 222626 135503 59130 27993 5541675 3858112 1683563 22904332 15908091 6941808 54433 1321566 920074 401492 FOOD SERVICE 12269058 12251535 13077 4446 BUILDING & GROUND MAINT 10682748 7437325 3245423 RENTALS 5840273 4065996 1774277 ATHLETICS GAMES & SUPPL 2983726 2983726 12536303 9342790 2840844 352669 301852279 237437543 59691635 4723101 22537403 34488518 11349252 14250451 7958872 6964799 14286 2857 551610 2320330 826180824 365896152 465508861 460284672 72991948 124616679 162372373 265896852 5007639 6089193 748292244 914914351 12958939 21361038 15470315 15719599 144746867 201774986 631692 315846 5649769 4470400 179457582 243641869 X 379878215 407180999 188956447 264091483 568834662 671272482 748292244 914914351 X 25899620 76812283 -274083 X 0 1 X 1 1 1 X 21127413 17878764 21325239 20466943 30238417 111036776 21127413 17878764 21325239 20466943 30238417 111036776 833254 110203522 2272853 3910472 5602290 2683035 1850302 16318952 3731093 3709388 3670789 2679709 2808090 16599069 143954797 1327154097 0.76550 0.70320 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: COMMISSIONS - 2016 AMOUNT: $ 821,447. 2017 AMOUNT: $ 734,781. 2018 AMOUNT: $ 807,426. 2019 AMOUNT: $ 728,526. 2020 AMOUNT: $ 809,164. PACT PROGRAM - 2016 AMOUNT: $ 558,136. 2017 AMOUNT: $ 542,293. 2018 AMOUNT: $ 522,858. 2019 AMOUNT: $ 379,423. 2020 AMOUNT: $ 429,504. OTHER REVENUE - 2016 AMOUNT: $ 2,091,812. 2017 AMOUNT: $ 2,189,675. 2018 AMOUNT: $ 2,133,984. 2019 AMOUNT: $ 1,445,260. 2020 AMOUNT: $ 1,236,002. FUNDRAISING REVENUE - 2016 AMOUNT: $ 259,698. 2017 AMOUNT: $ 242,639. 2018 AMOUNT: $ 206,521. 2019 AMOUNT: $ 126,500. 2020 AMOUNT: $ 333,420. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 18000 18000 0 PART II-B, LINE 1: PROVIDENCE COLLEGE PAYS ADVOCACY SOLUTIONS TO SUPPORT INITIATIVES OF THE COLLEGE WHICH INCLUDE LOBBYING ACTIVITIES. 140000 140000 231720254 7254132 93810553 5187862 6979624 320617453 234228360 4050089 4083127 4929874 5711448 231720254 238528635 10626654 8696420 4757585 18865764 234228360 221071443 16959609 11347583 4565851 6284149 238528635 198601326 12278420 21684174 4430927 7061550 221071443 0.27000 0.35000 0.38000 1 0 5575655 5575655 714389427 290616664 423772763 82861220 68519666 14341554 23354522 6759822 16594700 460284672 LIMITED PARTNERSHIPS 83381812 F HEDGE FUNDS 155040150 F OTHER INVESTMENTS 2800000 F DEPOSITS WITH TRUSTEES 24674890 F 265896852 ACCRUED INTEREST PAYABLE 1014291 REFUNDABLE ADVANCE-GOVT GRANT 3456109 4470400 X 403719178 76812283 1093544 -273450 77632377 326086801 2220001 -554903 1665098 327751899 301281358 1093544 555536 1649080 299632278 2220001 2220001 301852279 PART V, LINE 4: THE INTENDED USE OF THE COLLEGE'S ENDOWMENT IS TO FUND STUDENT SCHOLARSHIPS AND PROJECTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: PROVISION FOR DOUBTFUL PLEDGES -273,450. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -459,029. RENTAL EXPENSES -95,874. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 459,029. RENTAL EXPENSES 95,874. POST RETIREMENT BENEFIT OBLIGATION 633. FORM SCH D, PART X, LINE 2 THE COLLEGE IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE, AS AMENDED. ACCORDINGLY, IT IS GENERALLY NOT SUBJECT TO INCOME TAXES EXCEPT TO THE EXTENT IT HAS TAXABLE INCOME FROM ACTIVITIES THAT ARE NOT RELATED TO ITS EXEMPT PURPOSE. THE COLLEGE HAS GENERATED UNRELATED BUSINESS INCOME FOR THE YEAR ENDED JUNE 30, 2021, BUT IT IS NOT SIGNIFICANT TO THE FINANCIAL STATEMENTS. THE COLLEGE BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 NONDISCRIMINATORY POLICY THE COLLEGE ANNUALLY PUBLISHES A NOTICE OF ITS RACIALLY NONDISCRIMINATORY POLICY IN A NEWSPAPER OF GENERAL CIRCULATION THAT SERVES ALL RACIAL SEGMENTS OF THE COMMUNITY. ALSO, THE COLLEGE'S NONDISCRIMINATION POLICY IS AVAILABLE ON THE COLLEGE'S WEBSITE. LINE 6A GOVERNMENT AID OR ASSISTANCE THE COLLEGE PARTICIPATES IN VARIOUS GOVERNMENTAL ASSISTANCE PROGRAMS INCLUDING THE FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS AND FEDERAL WORK STUDY PROGRAM. CENTRAL AMERICA/CARRIBEAN 0 0 INVESTMENTS 107665236 EUROPE 0 0 INVESTMENTS 4017148 CENTRAL AMERICA/CARRIBEAN 0 0 PROGRAM SERVICES EDUCATIONAL ACTIVITIES 875 EAST ASIA & THE PACIFIC 0 0 PROGRAM SERVICES EDUCATIONAL ACTIVITIES 2200 EUROPE 0 0 PROGRAM SERVICES EDUCATIONAL ACTIVITIES 3720 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES EDUCATIONAL ACTIVITIES 1713 0 0 0 0 0 0 111690892 0 111690892 1 0 1 1 1 0 PART I, LINE 3: EXPENDITURES EXPENDITURES IN COLUMN (F) ARE BASED ON THE ACCRUAL METHOD OF ACCOUNTING. PART III ACCOUNTING METHOD: X X 1 EAB PO BOX 603519 CHARLOTTE NC 28260 MAIL & EMAIL SOLICITATION 0 663998 134259 529739 663998 134259 529739 AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY DC PR FRIAR GOLF CLASSIC 173670 124415 49255 7300 5000 19221 28078 NEWPORT VISION CUP 165200 111800 53400 7000 5000 7851 47751 7 842585 611820 230765 21725 15500 14614 279989 1181455 848035 333420 36025 25500 41686 355818 459029 -125609 PART I, LINE 2 FUNDRAISING ACTIVITIES PROVIDENCE COLLEGE HAS A WRITTEN AGREEMENT WITH EAB (PREVIOUSLY NAMED ROYALL & COMPANY AND ITS SUBSIDIARY ADVANCEMENT SERVICES, INC.), A PROFESSIONAL FUNDRAISER, WHEREBY EAB PROVIDED MAILING & EMAILING AND EMAILING SERVICES. THE AGREEMENT CALLS FOR A MONTHLY PAYMENT OF AN AGREED UPON FEE, PLUS REIMBURSEMENT OF COSTS SUCH AS PRINTING, POSTAGE, SUPPLIES ETC. EAB BILLS PROVIDENCE COLLEGE SEPARATELY FOR THESE COSTS. PROVIDENCE COLLEGE PAID EAB $134,259. 1 INSPIRING MINDS 190 BROAD STREET 2W PROVIDENCE RI 02903 050310175 501(C)(3) 8000 GENERAL SUPPORT THE CAPITAL GOOD FUND 22 A STREET PROVIDENCE RI 02907 800348382 501(C)(3) 8000 GENERAL SUPPORT 2 STUDENT SCHOLARSHIPS & FINANCIAL AID 2899 76612060 ATHLETIC SCHOLARSHIPS 281 10303657 FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT 211 833964 HIGHER EDUCATION EMERGENCY STUDENT GRANTS 1949 1491052 PART I, LINE 2 MONITOR THE USE OF GRANT FUNDS IN THE U.S. THE COLLEGE MONITORS THE USE OF GRANT FUNDS IN VARIOUS WAYS INCLUDING OBTAINING REPORTS FROM THE ORGANIZATIONS OUTLINING THE ACTIVITIES SUPPORTED BY GRANTS, MEETING REGULARLY WITH THE ORGANIZATIONS, AND VISITING ORGANIZATIONS TO OBSERVE ACTIVITIES ON A FIRST HAND BASIS. THE OFFICE OF FINANCIAL AID MONITORS FEDERAL GRANT FUNDS USING BANNER REPORTING TOOLS TO TRACK THE LEVEL OF AMOUNTS PAID FOR ALL TITLE IV GRANTS AND INSTITUTIONAL GRANTS. AMOUNTS ARE RECONCILED TO THE STUDENT ACCOUNT SYSTEM TO ENSURE FUNDS ARE PROPERLY DISBURSED. PART III, LINE 4 HIGHER EDUCATION EMERGENCY STUDENT GRANTS THE COLLEGE RECEIVED AWARDS FROM THE HIGHER EDUCATION EMERGENCY RELIEF FUND TO PROVIDE AID TO STUDENTS. DURING THE YEAR, THE COLLEGE UTILIZED THE AMOUNTS RECEIVED OF $1,491,052 TO PROVIDE GRANTS TO STUDENTS. X X X 1 1 X X X 1 1 0 0 0 0 0 0 0 EDWARD COOLEY MENS BASKETBALL COACH 3149784 0 322500 0 122507 0 128000 0 28321 0 3751112 0 0 0 NATHAN LEAMAN MENS HOCKEY COACH 510951 0 25000 0 22670 0 71042 0 27911 0 657574 0 0 0 ROBERT DRISCOLL VP & DIRECTOR OF ATHLETICS 405795 0 49724 0 43245 0 68016 0 24628 0 591408 0 0 0 GREGORY WALDRON SR VP INSTITUTIONAL ADVANCEMENT 349029 0 0 0 123993 0 14898 0 30430 0 518350 0 0 0 JAMES CROWLEY WOMEN'S BASKETBALL COACH 367815 0 54000 0 13343 0 15333 0 29331 0 479822 0 0 0 HUGH LENA SR VP ACADEMIC AFFAIRS/PROVOST 357352 0 0 0 7096 0 14227 0 21813 0 400488 0 0 0 KRISTINE GOODWIN VP STUDENT AFFAIRS 135301 0 60000 0 144785 0 10383 0 30160 0 380629 0 0 0 JOHN SWEENEY SR VP FINANCE & BUSINESS/CFO 288513 0 8150 0 25781 0 12200 0 29037 0 363681 0 0 0 SYLVIA MAXFIELD DEAN SCHOOL OF BUSINESS 315677 0 0 0 3420 0 12292 0 22487 0 353876 0 0 0 ANN MANCHESTER MOLAK EVP & TRUSTEE (BEG 7.1.20) 295627 0 0 0 11281 0 9590 0 21888 0 338386 0 0 0 STEVEN NAPOLILLO ASST VP/SR ASSOC AD EXT RE 248325 0 21250 0 25075 0 10417 0 23843 0 328910 0 0 0 CHRISTOPHER NERONHA VP & GEN COUNSEL 268670 0 0 0 7440 0 4781 0 11370 0 292261 0 0 0 STEVEN SEARS VP STUDENT SERVICES (BEG 12.1.20) 214932 0 0 0 2208 0 8022 0 5176 0 230338 0 0 0 SEAN REID BEG 7120 SR. VP ACADEMIC AFFAIRS/PROVOST 166057 0 0 0 36703 0 0 0 14906 0 217666 0 0 0 PART I, LINE 1A CHARTER TRAVEL, HOUSING ALLOWANCE, AND HEALTH OR SOCIAL CLUB DUES THE FOLLOWING LISTED BENEFITS WERE PROVIDED BY THE COLLEGE DURING CALENDAR YEAR 2020. LISTED BENEFITS TO EMPLOYEES CEASE UPON THEIR TERMINATION DATE. EDWARD COOLEY, THE MENS BASKETBALL COACH TRAVELS ON CHARTER FLIGHTS AS PART OF HIS COACHING RESPONSIBILITIES FOR AWAY GAMES. THE COLLEGE'S PRESIDENT, REV. KENNETH R. SICARD, OP WAS PROVIDED WITH ON CAMPUS HOUSING. THE HOUSING WAS EXCLUDED FROM THE INCOME OF REV. KENNETH R. SICARD, OP, AS IT MEETS THE EXCEPTION. UNDER INTERNAL REVENUE CODE SECTION 119(D). THE COLLEGE'S PRESIDENT, REV. KENNETH R. SICARD, OP, NATHAN LEAMAN, HOCKEY COACH, GREGORY WALDRON, SR VP OF INSTITUTIONAL ADVANCEMENT, STEVEN NAPOLILLO, ASST VP/ASSOCIATE ATHLETIC DIRECTOR, AND EDWARD COOLEY, BASKETBALL COACH, WERE PROVIDED WITH SOCIAL CLUB MEMBERSHIPS PAID BY THE COLLEGE. THE MEMBERSHIP DUES PAID BY THE COLLEGE FOR REV. KENNETH R. SICARD, OP WAS EXCLUDED FROM HIS INCOME AS AN ORDINARY AND NECESSARY BUSINESS EXPENSE UNDER INTERNAL REVENUE CODE SECTION 162. THE MEMBERSHIP DUES PAID BY THE COLLEGE FOR NATHAN LEAMAN, GREGORY WALDRON, STEVEN NAPOLILLO, AND EDWARD COOLEY ARE TAXABLE TO THE INDIVIDUALS AND INCLUDED IN THEIR FORM W-2. THESE AMOUNTS HAVE BEEN REPORTED IN FORM 990, PART VII AND ON SCHEDULE J. PART I, LINES 4A-B 4A - SEVERANCE UNDER THE TERMS OF THE EMPLOYMENT AND SEPARATION AGREEMENT BETWEEN KRISTINE GOODWIN AND THE COLLEGE, SALARY CONTINUANCE PAYMENTS WILL BE MADE THROUGH 12/31/21. AS PART OF HER EMPLOYMENT AGREEMENT AND SEPARATION AGREEMENT, KRISTINE GOODWIN RECEIVED SEVERANCE OF $133,600, WHICH WAS INCLUDED IN HER W-2 AND REPORTED ON SCHEDULE J, PART II, COLUMN B(III), AND REPORTED ON SCHEDULE J, PART II, COLUMN B(III). 4B - SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN CERTAIN HIGHLY COMPENSATED EMPLOYEES PARTICIPATE IN A NONQUALIFIED 457(F) PLAN: CONTRIBUTIONS MADE: EDWARD COOLEY $100,000 NATHAN LEAMAN $50,000 ROBERT DRISCOLL $50,000 A RI HEALTH & EDUCATIONAL BLDG CORP - SERIES 2021 521300173 762197E64 2021-06-09 24867188 CONSTRUCTION 0 0 0 B RI HEALTH & EDUCATIONAL BLDG CORP - SERIES 2017 521300173 762197UW9 2017-03-29 50394917 CONSTRUCTION 0 0 0 C RI HEALTH & EDUCATIONAL BLDG CORP - SERIES 2015 521300173 762197RZ6 2015-07-16 51061015 REFUNDING OF 2008 BONDS & CONS. 0 0 0 D RI HEALTH & EDUCATIONAL BLDG CORP - SERIES 2012B 521300173 762197LS8 2012-11-20 40616916 ADVANCE REFUNDING OF 2003A BONDS 0 0 0 A 24867188 192348 24674841 0 0 0 1 B 50732059 376819 50355240 2019 0 0 1 1 C 10560000 51111229 375619 35253587 15482023 2017 1 0 1 1 D 19405000 40617466 234178 40383288 2014 0 1 1 1 A 0 0 0 0 0 0 1 B 0 0 1 1 0 0 0 1 C 0 0 1 1 0 0 0 1 D 0 0 1 1 0 0 0 1 A 0 1 0 0 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 D 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 D 1 PART II, LINE 3, BOND ISSUE B THE DIFFERENCE BETWEEN TOTAL PROCEEDS IN PART II, LINE 3 AND THE ISSUE PRICE OF THE BOND ISSUE IS INVESTMENT EARNINGS OF $337,142 PART II, LINE 3, BOND ISSUE C THE DIFFERENCE BETWEEN TOTAL PROCEEDS IN PART II, LINE 3 AND THE ISSUE PRICE OF THE BOND ISSUE IS INVESTMENT EARNINGS OF $50,214 PART II, LINE 3, BOND ISSUE D THE DIFFERENCE BETWEEN TOTAL PROCEEDS IN PART II, LINE 3 AND THE ISSUE PRICE OF THE BOND ISSUE IS INVESTMENT EARNINGS OF $550 PART II, LINE 3, BOND ISSUE E THE DIFFERENCE BETWEEN TOTAL PROCEEDS IN PART II, LINE 3 AND THE ISSUE PRICE OF THE BOND ISSUE IS INVESTMENT EARNINGS OF $8,249 PART IV, LINE 2C THE REBATE COMPUTATION DATE FOR THE SERIES 2012A BOND ISSUE WAS 12/31/2020 THE REBATE COMPUTATION DATE FOR THE SERIES 2012B BOND ISSUE WAS 10/31/2020 THE REBATE COMPUTATION DATE FOR THE SERIES 2015 BOND ISSUE WAS 7/16/2020 THE REBATE COMPUTATION DATE FOR THE SERIES 2017 BOND ISSUE WAS 3/31/21 A RI HEALTH & EDUCATIONAL BLDG CORP - SERIES 2012A 521300173 762197JH5 2012-01-25 40337074 CONSTRUCTION 0 0 0 A 7465000 40345323 335840 40009483 2015 0 0 1 1 A 0 0 1 1 0 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 GREGORY T WALDRON OFFICER PERSONAL X 80000 2857 0 1 1 2857 NA N/A 2500 TUITION TUITION SCHOLARSHIP NA N/A 1000 TUITION TUITION SCHOLARSHIP MARGARET MANCHESTER FAMILY MEMBER OF OFFICER 99065 COMPENSATION 0 X 2 140000 FMV X 89 1558081 SELLING PRICE X 3 68196 FMV X MISCELLANEOUS 9 12287 FMV 2 0 1 0 PART I, COLUMN (B): CONTRIBUTIONS THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. PART III, LINE 1 ORGANIZATION'S MISSION PROVIDENCE COLLEGE IS A CATHOLIC, DOMINICAN, LIBERAL ARTS INSTITUTION OF HIGHER EDUCATION AND A COMMUNITY COMMITTED TO ACADEMIC EXCELLENCE IN PURSUIT OF THE TRUTH, GROWTH IN VIRTUE, AND SERVICE OF GOD AND NEIGHBOR. HISTORY PROVIDENCE COLLEGE WAS FOUNDED IN 1917 BY THE DOMINICAN FRIARS AT THE INVITATION OF BISHOP HARKINS TO PROVIDE A CATHOLIC EDUCATION IN THE ARTS AND SCIENCES. FAITH AND REASON PROVIDENCE COLLEGE IS CONFIDENT IN THE APPEAL OF REASON, BELIEVES THAT HUMAN BEINGS ARE DISPOSED TO KNOW THE TRUTH, AND TRUSTS IN THE POWER OF GRACE TO ENLIGHTEN MINDS, OPEN HEARTS, AND TRANSFORM LIVES. PROVIDENCE COLLEGE MAINTAINS THAT THE PURSUIT OF TRUTH HAS INTRINSIC VALUE, THAT FAITH AND REASON ARE COMPATIBLE AND COMPLEMENTARY MEANS TO ITS DISCOVERY, AND THAT THE SEARCH FOR TRUTH IS THE BASIS FOR DIALOGUE WITH OTHERS AND CRITICAL ENGAGEMENT WITH THE WORLD. ACADEMIC EXCELLENCE PROVIDENCE COLLEGE IS COMMITTED TO ACADEMIC EXCELLENCE, AND HOLDS ITSELF TO THE HIGHEST STANDARDS IN TEACHING, LEARNING, AND SCHOLARSHIP. ITS CORE CURRICULUM ADDRESSES KEY QUESTIONS OF HUMAN EXISTENCE, INCLUDING LIFE'S MEANING AND PURPOSE, AND STRESSES THE IMPORTANCE OF MORAL AND ETHICAL REASONING, AESTHETIC APPRECIATION, AND UNDERSTANDING THE NATURAL WORLD, OTHER CULTURES, AND DIVERSE TRADITIONS. PROVIDENCE COLLEGE HONORS ACADEMIC FREEDOM, PROMOTES CRITICAL THINKING AND ENGAGED LEARNING, AND ENCOURAGES A PEDAGOGY OF DISPUTED QUESTIONS. COMMUNITY AND DIVERSITY PROVIDENCE COLLEGE SEEKS TO REFLECT THE RICH DIVERSITY OF THE HUMAN FAMILY. FOLLOWING THE EXAMPLE OF ST. DOMINIC, WHO EXTENDED A LOVING EMBRACE TO ALL, IT WELCOMES QUALIFIED MEN AND WOMEN OF EVERY BACKGROUND AND AFFIRMS THE GOD-GIVEN DIGNITY, FREEDOM, AND EQUALITY OF EACH PERSON. PROVIDENCE COLLEGE PROMOTES THE COMMON GOOD, THE HUMAN FLOURISHING OF EACH MEMBER OF THE CAMPUS COMMUNITY, AND SERVICE OF NEIGHBOURS NEAR AND FAR. VERITAS AND PROVIDENCE PROVIDENCE COLLEGE BRINGS THE EIGHT-HUNDRED- YEAR-OLD DOMINICAN IDEAL OF VERITAS TO THE ISSUES AND CHALLENGES OF TODAY. IT SEEKS TO SHARE THE FRUITS OF CONTEMPLATION IN AN INCREASINGLY GLOBAL AND DIVERSE SOCIETY, AND TO PRAISE AND BLESS ALL THAT IS GOOD AND VITAL IN HUMAN ENDEAVORS. PROVIDENCE COLLEGE SUPPORTS THE DOMINICAN MISSION OF PREACHING THE GOSPEL OF JESUS CHRIST TO A NEW GENERATION OF STUDENTS AND HELPING THEM DISCOVER GOD'S PROVIDENCE IN THEIR LIVES. PART III, LINE 4A, PROGRAM SERVICE ACCOMPLISHMENTS: PROVIDENCE COLLEGE OFFERS UNDERGRADUATE DEGREES, GRADUATE DEGREES, AND CERTIFICATE PROGRAMS. COMMITTED TO ACADEMIC EXCELLENCE, THE COLLEGE'S CORE CURRICULUM ADDRESSES KEY QUESTIONS OF HUMAN EXISTANCE, INCLUDING LIFE'S MEANING AND PURPOSE, AND STRESSES THE IMPORTANCE OF MORAL AND ETHICAL REASONING, AESTHETIC APPRECIATION, AND UNDERSTANDING THE NATURAL WORLD, OTHER CULTURES, AND DIVERSE TRADITIONS. PROVIDENCE COLLEGE HONORS ACADEMIC FREEDOM, PROMOTES CRITICAL THINKING AND ENGAGED LEARNING, AND ENCOURAGES A PEDAGOGY OF DISPUTED QUESTIONS. THE COLLEGE OFFERS APPROXIMATELY 50 MAJOR FIELDS OF STUDY. THE STUDENT/FACULTY RATIO IS 12:1 AND THE AVERAGE CLASS SIZE IS 20. THE COLLEGE IS ACCREDITED BY THE NEW ENGLAND ASSOCIATION OF SCHOOLS AND COLLEGES AND THE AACSB INTERNATIONAL, AMONG OTHER ACCREDITING BODIES. APPROXIMATELY 4,800 STUDENTS WERE ENROLLED IN THE UNDERGRADUATE, GRADUATE AND CONTINUING EDUCATION PROGRAMS. FORM 990, PART VI, SECTION A, LINE 6 12-MEMBER CORPORATION PROVIDENCE COLLEGE'S GOVERNING BODY IS A TWO-TIER STRUCTURE: A CORPORATION AND A BOARD OF TRUSTEES. THE 12-MEMBER CORPORATION IS THE BODY THAT HAS THE ULTIMATE AUTHORITY TO EXERCISE CONTROL OVER OWNERSHIP OF PROPERTY, TO PROMULGATE AND AMEND THE BY-LAWS, TO ACCEPT OR REJECT THE RECOMMENDATION FOR ELECTION TO THE PRESIDENCY OF THE COLLEGE BY THE BOARD OF TRUSTEES, AND TO ELECT MEMBERS OF THE CORPORATION AND OF THE BOARD OF TRUSTEES. THE CORPORATION IS COMPRISED OF FOUR EX OFFICIO MEMBERS AND EIGHT OTHER INDIVIDUALS ELECTED BY THE CORPORATION, FOUR DOMINICAN FRIARS AND FOUR LAY PERSONS. THE EX OFFICIO MEMBERS ARE: (I) THE PROVINCIAL OF THE PROVINCE OF ST. JOSEPH, THE ELECTED LEADER OF THE DOMINICAN ORDER FOR THE EASTERN REGION OF THE UNITED STATES; (II) THE ROMAN CATHOLIC BISHOP OF THE DIOCESE OF PROVIDENCE; (III) THE PRESIDENT OF THE COLLEGE; (IV) AND THE CHAIRMAN OF THE BOARD OF TRUSTEES. THE TERMS OF OFFICE OF THE BISHOP, THE PRESIDENT, THE PROVINCIAL AND THE CHAIRMAN OF THE BOARD OF TRUSTEES ARE CO-TERMINUS WITH THE RESPECTIVE INCUMBENCY OF EACH. THE TERM OF ALL OTHER MEMBERS IS THREE YEARS. FORM 990, PART VI, SECTION A, LINE 7A SEE DESCRIPTION PROVIDED FOR FORM 990, PART VI, LINE 6 FORM 990, PART VI, SECTION A, LINE 7B SEE DESCRIPTION PROVIDED FOR FORM 990, PART VI, LINE 6 FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS THE FORM 990 WILL BE COMPLETED ANNUALLY. MEMBERS OF THE AUDIT COMMITTEE WILL REVIEW THE FORM 990 WITH THE COLLEGE'S PRESIDENT, EXECUTIVE VICE PRESIDENT, SR. VICE PRESIDENT FOR FINANCE & BUSINESS/CFO, AND CONTROLLER. AT THE DISCRETION OF THE AUDIT COMMITTEE CHAIR, THE THIRD PARTY PREPARER OF THE FORM 990 MAY BE ASKED TO ATTEND. ANY NECESSARY CHANGE, IDENTIFIED THROUGH THE REVIEW PROCESS, WILL BE MADE TO THE ORIGINALLY SUBMITTED FORM 990. THIS UPDATED VERSION OF THE FORM 990 WILL BE CONSIDERED APPROVED FOR FILING. IT WILL BE SIGNED BY THE SR. VICE PRESIDENT FOR FINANCE & BUSINESS/CFO, DATED, AND SUBMITTED BY THE FILING DEADLINE. A COPY OF THE APPROVED FORM 990 WILL BE PROVIDED, VIA POSTING ON THE TRUSTEES ONLY AREA OF THE COLLEGE WEBSITE, TO ALL OF THE OFFICERS AND TRUSTEES BEFORE THE RETURN IS FILED. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY ALL OFFICERS, TRUSTEES, AND KEY EMPLOYEES ARE REQUIRED TO DISCLOSE ANNUAL INTERESTS THAT COULD GIVE RISE TO CONFLICTS. ALL CONFLICT OF INTEREST DISCLOSURE FORMS ARE REVIEWED BY THE COLLEGE'S GENERAL COUNSEL, THE CHAIRPERSON OF THE AUDIT COMMITTEE, AND A DESIGNEE OF THE CORPORATION. ISSUES ARISING UNDER THE APPLICATION OF THIS POLICY SHALL BE RESOLVED BY THE BOARD OF TRUSTEES OR THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION POLICY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES ANNUALLY REVIEWS THE POLICIES, PROGRAMS, AND TOTAL COMPENSATION FOR EXECUTIVES TO ENSURE COMPLIANCE WITH FEDERAL REGULATIONS CONCERNING EXECUTIVE COMPENSATION IN NON-PROFIT ORGANIZATIONS. COMPETITIVE SURVEY DATA IS COLLECTED, ANALYZED, AND SUMMARIZED BY THE ASSOCIATE VICE PRESIDENT FOR HUMAN RESOURCES AND IS REVIEWED ANNUALLY BY THE SENIOR EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. SALARIES ARE BASED UPON THE EXECUTIVE'S SCOPE, SIZE, AND COMPLEXITY OF RESPONSIBILITIES AS WELL AS PERFORMANCE AGAINST GOALS AND OBJECTIVES. THIS PROCESS IS USED TO ESTABLISH COMPENSATION FOR THE FOLLOWING: PRESIDENT, EVP, VP FOR STUDENT AFFAIRS, SR VP OF ACADEMIC AFFAIRS/PROVOST, VP AND GENERAL COUNSEL, SR VP FOR FINANCE/CFO, SR VP FOR INSTITUTIONAL ADVANCEMENT, VP & DIRECTOR OF ATHLETICS, VP FOR MISSION AND MINISTRY, AND TREASURER. THIS PROCESS IS DONE ANNUALLY. PROVIDENCE COLLEGE'S PRESIDENT IS A MEMBER OF THE DOMINICAN FRIARS, A CATHOLIC RELIGIOUS ORDER. HE IS PROVIDED ON CAMPUS HOUSING AND HEALTHCARE BENEFITS BY THE COLLEGE. THE COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES IS SET BY THE PRESIDENT OF THE COLLEGE. INDEPENDENT COMPENSATION COMPARABILITY SURVEYS ARE USED PERIODICALLY IN SETTING COMPENSATION. THE COLLEGE COMPLIES WITH THE THREE REQUIREMENTS OF THE REBUTTABLE PRESUMPTION STANDARD, AS OUTLINED IN TREASURY REGULATIONS SECTION 53.4958-6: (1) EXECUTIVE COMPENSATION IS AUTHORIZED BY AN INDEPENDENT COMMITTEE OF THE BOARD OF DIRECTORS, (2) THE COMMITTEE AUTHORIZING EXECUTIVE COMPENSATION OBTAINS AND RELIES ON APPROPRIATE DATA AS TO COMPARABILITY PRIOR TO MAKING DETERMINATIONS, AND (3) THE COMMITTEE ADEQUATELY DOCUMENTS THE BASIS FOR DETERMINATIONS CONCURRENTLY WITH MAKING THE DETERMINATIONS. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC DISCLOSURE POLICY THE ORGANIZATION'S GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC ON THE WEBSITE. THE COLLEGE COMMUNITY (FACULTY, STAFF, AND STUDENTS) HAVE ACCESS TO THE CONFLICT OF INTEREST POLICY THROUGH THE COLLEGE'S WEBSITE. FINANCIAL STATEMENTS ARE AVAILABLE TO ANYONE UPON REQUEST. THE FORM 990 IS POSTED ON THE INTERNET AT WWW.GUIDESTAR.ORG. FORM 990, PART XI, LINE 9: UNCOLLECTIBLE PLEDGES -273,450. POST RETIREMENT BENEFIT OBLIGATION -633. CHARITABLE REMAINDER TRUSTS (5) INVESTING RI PC T 1 CHARITABLE PERPETUAL TRUSTS (3) INVESTING RI PC T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 CHARITABLE PERPETUAL TRUST (1) S 56000 CASH