2022-05-11T07:56:23-05:00 2021-06-30 366055558 GRANT THORNTON LLP 757 THIRD AVE 3RD FLOOR NEW YORK NY 100172013 990 2020-07-01 131740445 COLLEGE OF MT ST VINCENT COLL 7184053200 6301 RIVERDALE AVENUE RIVERDALE NY 10471 ABED ELKESHK SEVP, TREASURER & CFO 7184053200 2021-10-28 1 ABED ELKESHK XXX-XX-XXXX DANIEL ROMANO P00504182 2125990100 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z SUSAN R BURNS - PRESIDENT 6301 RIVERDALE AVENUE RIVERDALE NY 10471 108757940 0 X WWW.MOUNTSAINTVINCENT.EDU X 1847 NY FOUNDED BY THE SISTERS OF CHARITY OF NEW YORK, THE COLLEGE OF MOUNT (CONTINUED ON SCHEDULE O). SAINT VINCENT IS AN ACADEMICALLY EXCELLENT, AUTHENTICALLY INCLUSIVE, CATHOLIC AND ECUMENICAL LIBERAL ARTS COLLEGE. 32 31 1074 0 23243 16565 14665768 6970353 86008612 94510599 192319 1510431 637790 450683 101504489 103442066 40454610 39644320 0 0 29711768 32385725 0 0 1207501 22299465 27184276 92465843 99214321 9038646 4227745 129835108 148286714 47481853 53659731 82353255 94626983 X FOUNDED BY THE SISTERS OF CHARITY OF NEW YORK, THE COLLEGE OF MOUNT SAINT VINCENT IS AN ACADEMICALLY EXCELLENT, AUTHENTICALLY INCLUSIVE, CATHOLIC AND ECUMENICAL LIBERAL ARTS COLLEGE. (CONT. IN SCH.O) 0 0 87696325 39644320 94510599 COLLEGE OF MOUNT SAINT VINCENT IS A SCHOOL OF HIGHER EDUCATIONFORMED IN THE CATHOLIC TRADITION, BUT NONSECTARIAN. WE HAVE ADIVERSE STUDENT POPULATION BOTH ETHNICALLY AND ECONOMICALLY. WEOFFER 3 ASSOCIATE, 27 BACCALAUREATE, AND 9 GRADUATE MAJORS. WEAWARD B.A. AND B.S. DEGREES ON THE UNDERGRADUATE LEVEL. INADDITION, WE AWARD M.S. AND M.B.A. DEGREES ON THE GRADUATE LEVEL.(CONT. IN SCH.O) 87696325 1 1 0 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 66 0 1 1074 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 32 31 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X SAMUEL SOLA 7184053200 6301 RIVERDALE AVE RIVERDALE NY 10471 CHARLES L FLYNN PRESIDENT (THRU 12/2020) 40.00 0.00 X X 373203 0 50576 SUSAN R BURNS PRESIDENT (AS OF 01/2021) 40.00 0.00 X X 0 0 0 STEVEN HAYES CHAIR 1.00 0.00 X X 0 0 0 DONNA DODGE SC VICE CHAIR 1.00 0.00 X X 0 0 0 STEFANO ACUNTO SECRETARY 1.00 0.00 X X 0 0 0 ROSEMARY BERKERY TRUSTEE (THRU 12/2020) 1.00 0.00 X 0 0 0 PAULA MARIE BULEY IHM TRUSTEE 1.00 0.00 X 0 0 0 JOHN CARUSO TRUSTEE 1.00 0.00 X 0 0 0 VITA CASSESE TRUSTEE 1.00 0.00 X 0 0 0 GAIL CIVILLE TRUSTEE 1.00 0.00 X 0 0 0 CRISTOBOL CONDE TRUSTEE 1.00 0.00 X 0 0 0 BRENDA CRANDELL TRUSTEE 1.00 0.00 X 0 0 0 NOREEN CULHANE TRUSTEE 1.00 0.00 X 0 0 0 REGINA CUNNINGHAM TRUSTEE 1.00 0.00 X 0 0 0 PETER DENUNZIO TRUSTEE 1.00 0.00 X 0 0 0 SUSAN DIDONATO TRUSTEE 1.00 0.00 X 0 0 0 BARBARA DOTY TRUSTEE 1.00 0.00 X 0 0 0 DEBORAH J HAMILTON TRUSTEE 1.00 0.00 X 0 0 0 MAUREEN HENEGAN TRUSTEE 1.00 0.00 X 0 0 0 ANITA KERR TRUSTEE 1.00 0.00 X 0 0 0 DOLLY LENZ TRUSTEE 1.00 0.00 X 0 0 0 ROBERT LORENZO TRUSTEE 1.00 0.00 X 0 0 0 MARY BETH MALONE TRUSTEE 1.00 0.00 X 0 0 0 STEPHEN MANZI TRUSTEE 1.00 0.00 X 0 0 0 MAURA MARKUS TRUSTEE 1.00 0.00 X 0 0 0 CATHY MARTINE TRUSTEE 1.00 0.00 X 0 0 0 STEVEN MENZIES TRUSTEE 1.00 0.00 X 0 0 0 PAUL MOURNING TRUSTEE 1.00 0.00 X 0 0 0 PAMELA NEWMAN TRUSTEE 1.00 0.00 X 0 0 0 MARGARET O'BRIEN SC TRUSTEE 1.00 0.00 X 0 0 0 DOMINICA ROCCHIO SC TRUSTEE 1.00 0.00 X 0 0 0 JOAN M SQUIRES TRUSTEE EMERITUS 1.00 0.00 X 0 0 0 ELIZABETH VERMAELEN SC TRUSTEE 1.00 0.00 X 0 0 0 JOAN D WALSH TRUSTEE 1.00 0.00 X 0 0 0 SUSAN L WHITNEY TRUSTEE 1.00 0.00 X 0 0 0 ABED ELKESHK SENIOR EVP, TREASURER & CFO 40.00 0.00 X 203017 0 27530 LYNNE TOWMEY PROVOST 40.00 0.00 X 191049 0 7642 MADELEINE MELKONIAN SVP/ADMISSION & EXT. RELATION 40.00 0.00 X 196833 0 41173 KEVIN DEGROAT VP FOR OPERATIONS 40.00 0.00 X 166657 0 51841 JAMES BURKEE VP FOR STRATEGIC INITIATIVES 40.00 0.00 X 164536 0 15010 W ADAM WICHERN VP INFO. AND TECH./CIO 40.00 0.00 X 153388 0 22939 COLETTE ATKINS VP/INSTITUTIONAL ADVANCEMENT 40.00 0.00 X 142194 0 20572 SARAH STEVENSON FORMER PROVOST 40.00 0.00 X 150974 0 56281 1741851 0 293564 32 1 1 0 AUGUST CONSTRUCTION GROUP INC 311 MCLEAN AVENUE YONKERS NY 10705 CONSTRUCTION 5595611 GRIFFITH CONSTRUCTION CORP 439 VICTOR WAY WYCKOFF NJ 07481 CONSTRUCTION 1958529 ASSESSMENT TECHNOLOGIES INSTITUTE LLC 62277 COLLECTIONS CTR DR CHICAGO IL 60693 TEST PREPARATION 1030416 EAB 2445 M STREET NW WASHINGTON DC 20037 STUDENT MARKETING 825756 DIAMOND BUILDERS GROUP 28 JAMES WILKINSON ROAD ROCK TAVERN NY 12575 CONSTRUCTION 758717 20 4773559 2196794 468504 6970353 TUITION & FEES 611710 85466608 85466608 ROOM & BOARD 611710 9043991 9043991 94510599 305051 23243 281808 292566 0 292566 292566 292566 6244478 5039098 1205380 1205380 1205380 178191 276776 -98585 -98585 REBATE INCOME 900099 21229 21229 OTHER AUX. REVENUE 900099 19023 19023 216450 216450 256702 103442066 94510599 23243 1937871 39644320 39644320 789967 236917 553050 25554762 19378613 5643855 532294 603820 463880 125268 14672 3558678 2663017 811548 84113 1878498 1404793 429566 44139 497492 497492 362744 362744 499 499 83107 83107 484912 236281 137013 111618 206038 205351 687 1233952 706994 345771 181187 1068492 60865 1007627 2784163 9062 2775101 175008 167655 7353 32805 30077 2728 1195343 1195343 5845689 5444355 401334 873290 873290 CONTRACTUAL SERVICES 9222225 6212768 2975503 33954 FOOD SERVICE 1183841 1089572 55457 38812 BAD DEBT 280049 280049 ALLOCATED INDIRECT EXP. 0 8655028 -8778770 123742 1654627 1292128 320216 42283 99214321 87696325 10310495 1207501 11261 16205 16232062 16039142 4877128 2873551 2922057 3164606 0 0 623784 601773 202809 140474 213632 213632 154333906 79037598 70803733 75296308 13293438 17304822 19720517 26989695 934687 5646506 129835108 148286714 1659429 2961653 6990523 9508463 22036765 20187996 499828 581419 14220000 13525000 2075308 6895200 47481853 53659731 X 51212378 56769539 31140877 37857444 82353255 94626983 129835108 148286714 4227745 8045983 0 X 0 1 X 1 1 1 X 6326065 5294436 4598040 14665768 6970353 37854662 6326065 5294436 4598040 14665768 6970353 37854662 6662647 31192015 1090062 924767 852927 517899 574374 3960029 1043 12304 17565 30912 1233418 1508818 625905 784070 434893 4587104 46432707 377052835 0.67180 0.63880 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GROSS SALE OF INVENTORY - 2016 AMOUNT: $ 73,799. 2017 AMOUNT: $ 83,504. 2018 AMOUNT: $ 77,210. 2019 AMOUNT: $ 147,660. 2020 AMOUNT: $ 178,191. INVESTMENT AMORTIZATION - 2016 AMOUNT: $ 305,085. 2017 AMOUNT: $ 305,085. 2018 AMOUNT: $ 0. 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 0. GROSS FUNDRAISING - 2016 AMOUNT: $ 416,425. 2017 AMOUNT: $ 402,090. 2018 AMOUNT: $ 0. 2019 AMOUNT: $ 113,641. 2020 AMOUNT: $ 0. REBATE INCOME - 2016 AMOUNT: $ 178,367. 2017 AMOUNT: $ 285,151. 2018 AMOUNT: $ 44,872. 2019 AMOUNT: $ 72,801. 2020 AMOUNT: $ 21,229. OTHER AUX REVENUE - 2016 AMOUNT: $ 106,594. 2017 AMOUNT: $ 177,864. 2018 AMOUNT: $ 150,865. 2019 AMOUNT: $ 63,127. 2020 AMOUNT: $ 19,023. OTHER REVENUE - 2016 AMOUNT: $ 153,148. 2017 AMOUNT: $ 255,124. 2018 AMOUNT: $ 352,958. 2019 AMOUNT: $ 386,841. 2020 AMOUNT: $ 216,450. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 499 499 0 PART II-B, LINE 1: LOBBYING EXPENSE THE COLLEGE IS A MEMBER OF THE NATIONAL ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES (NAICU) THAT PROMOTES THE NEEDS OF HIGHER EDUCATION AND PROVIDES INFORMATION TO THE INDUSTRY. THE ASSOCIATION PROVIDES AN ALLOCATION OF THE ANNUAL DUES TO LOBBYING EFFORTS. SEVEN PERCENT OF THE ANNUAL DUES ARE USED FOR LOBBYING EFFORTS. THE PORTION OF ANNUAL DUES INVOLVED IN LOBBYING ACTIVITIES IS NEGLIGIBLE TO THE COLLEGE. THIS REPRESENTS THE ONLY LOBBYING ACTIVITIES OF THE COLLEGE. 43405 X 0 0 1 X 36225313 1823733 9554559 970611 19908 46613086 26684969 8718574 1644186 806020 16396 36225313 24516412 1407514 1455502 680342 14117 26684969 21950437 1597214 1561010 413944 178305 24516412 17395110 1984300 2701198 0 130171 21950437 0.25390 0.56450 0.18160 0 0 2009990 2009990 103913205 50529426 53383779 20292202 18112590 2179612 28118509 10395582 17722927 75296308 ALTERNATIVE INVESTMENTS 26829286 F TRUSTS 160409 F 26989695 U.S. GOV'T GRANTS REFUNDABLE 250326 CONDITIONAL ASSET RETIREMENT 1803793 OPERATING LEASE LIABILITY 4841081 6895200 X 75249765 8045983 53811 -36292095 -28192301 103442066 0 103442066 62976037 53811 276776 330587 62645450 36568871 36568871 99214321 PART III, LINE 4: COLLECTIONS OF ART THE COLLEGE MAINTAINS VARIOUS PIECES OF ART FOR DISPLAY THROUGHOUT THE CAMPUS; THIS ARTWORK ENHANCES STUDENT AND FACULTY APPRECIATION OF FINE ART WHILE SIMULTANEOUSLY IMPROVING THE AESTHETICS OF THE COLLEGE CAMPUS. PART IV, LINE 2B: TRUST, ESCROW AND CUSTODIAL ARRANGEMENTS THE COLLEGE HOLDS CUSTODIAL ACCOUNTS ON BEHALF OF ITS MATRICULATING STUDENTS. THESE FUNDS ARE ULTIMATELY USED TO FINANCE STUDENT ACTIVITIES, DINING FACILITIES, CLUBS AND OTHER PROGRAMS. THIS ACCOUNT IS REPORTED ON THE COLLEGE'S FINANCIAL STATEMENTS AND IS REPORTED ON PART X, LINE 21. DURING FISCAL 2012, THE COLLEGE ENTERED INTO AN AGREEMENT WITH A THIRD-PARTY ORGANIZATION THAT WILL FUND AN INVESTMENT IN CAPITAL IMPROVEMENTS TO THE COLLEGE'S DINING SERVICE FACILITY IN A SUM NOT TO EXCEED $5,000,000. THE INVESTMENT IS AMORTIZED ON A STRAIGHT-LINE BASIS, WHICH COMMENCED OCTOBER 2012 THROUGH JUNE 2027, AS THE COLLEGE HOLDS TITLE TO SUCH IMPROVEMENTS. IF THE AGREEMENT EXPIRES OR IS TERMINATED FOR ANY REASON PRIOR TO THE FULL AMORTIZATION, THE COLLEGE IS LIABLE FOR THE UNAMORTIZED PORTION OF THE INVESTMENT. THE COLLEGE RECEIVED THE FIRST INSTALLMENT OF $2 MILLION IN FISCAL 2012 AND AN ADDITIONAL $2.5 MILLION IN FISCAL 2013. THIS ACCOUNT IS REPORTED ON THE COLLEGE'S FINANCIAL STATEMENTS AND IS REPORTED ON PART X, LINE 21. IN AUGUST 2018, THE COLLEGE TERMINATED ITS CONTRACT WITH THE THIRD-PARTY ORGANIZATION. AS A RESULT, THE UNAMORTIZED PORTION OF THE INVESTMENT IN CAPITAL IMPROVEMENTS WAS PAID BACK TO THE THIRD-PARTY ORGANIZATION. THEREFORE, THERE IS NO ACCOUNT BALANCE ON JUNE 30, 2021. PART V, LINE 4: ENDOWMENT FUNDS THE COLLEGE'S ENDOWMENT FUND IS INTENDED TO SUPPORT THE COLLEGE'S EDUCATIONAL MISSION THROUGH SCHOLARSHIPS AND EDUCATIONAL PROGRAMS. PART X, LINE 2: FIN 48 CMSV HAS BEEN RECOGNIZED AS A PUBLIC CHARITY GENERALLY EXEMPT FROM FEDERAL INCOME TAXATION UNDER PROVISIONS OF SECTION 501(A) AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE "CODE") OF 1986, AS AMENDED. THE COLLEGE IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. CMSV HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND, TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. CMSV FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE INCOME TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THE POSITION IS "MORE LIKELY THAN NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE TAX YEARS ENDED JUNE 30, 2021, 2020, 2019 AND 2018 ARE STILL OPEN TO AUDIT FOR BOTH FEDERAL AND STATE PURPOSES. CMSV HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN ITS FINANCIAL STATEMENTS FOR THE YEARS ENDED JUNE 30, 2021 AND 2020. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSE -36,568,871. COST OF GOODS SOLD 276,776. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 276,776. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSE 36,568,871. 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 COLLEGE'S NON-DISCRIMINATORY POLICY IS DISCLOSED IN ALL PUBLICATIONS, PRINTED AND DISTRIBUTED BY THE COLLEGE, AS WELL AS ON ITS WEBSITE. SCHEDULE E, PART I, LINE 6 THE COLLEGE ACCEPTS BOTH FEDERAL AND STATE GOVERNMENTAL FUNDING FOR THE PURPOSES OF PROVIDING FINANCIAL AID TO STUDENTS MATRICULATING AT THE COLLEGE. THE COLLEGE RECEIVED HEERF FUNDING IN FISCAL YEAR 2021. REFER TO SCHEDULE O FOR MORE DETAIL. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 14109330 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 3582493 EAST ASIA AND THE PACIFIC 0 0 INVESTMENTS 1142950 SOUTH AMERICA 0 0 INVESTMENTS 146503 0 0 0 0 0 0 18981276 0 18981276 1 0 1 1 1 0 PART I, LINE 3: ACCOUNTING METHOD USED INVESTMENTS ARE REPORTED BY THE COLLEGE AT THEIR BOOK VALUE AS RECORDED IN THE COLLEGE'S BOOKS AND RECORDS. PART III ACCOUNTING METHOD: PART IV: COLLEGE OF MOUNT SAINT VINCENT INVESTS IN DOMESTIC AND FOREIGN LIMITED PARTNERSHIPS THAT MAY OWN AN INTEREST IN A FOREIGN CORPORATION, PASSIVE FOREIGN INVESTMENT COMPANY, OR FOREIGN PARTNERSHIP. NEVERTHELESS, THE COLLEGE'S INVESTMENT ACTIVITIES MAY NOT REACH THE THRESHOLDS REQUIRED FOR FILING THE FORMS 926, 5471, 8621 OR 8865. TO THE EXTENT SUCH A FORM WAS COMPLETED, IT HAS BEEN FILED WITH THE COLLEGE'S FORM 990-T. 1 SCHOLARSHIPS 1845 37545787 HEERF SCHOLARSHIPS 2112 2098533 PART I, LINE 2: GRANTS AND OTHER ASSISTANCE IN THE UNITED STATES THE COLLEGE PROVIDES SCHOLARSHIPS TO STUDENTS MATRICULATING AT THE COLLEGE; THESE SCHOLARSHIPS MAY ONLY BE USED BY STUDENTS TO DEFRAY THE COSTS OF TUITION AND/OR ROOM AND BOARD. SINCE THE STUDENTS MAY NOT EXERCISE ANY DISCRETION ON HOW THE FUNDS ARE SPENT, THE COLLEGE IS NOT REQUIRED TO MONITOR THE GRANTS (OTHER THAN TO ENSURE THAT THE STUDENT IS FULFILLING THE REQUIREMENTS FOR EARNING THE SCHOLARSHIP). X 0 1 X X X X X 0 1 0 0 0 0 0 0 0 CHARLES L FLYNN PRESIDENT (THRU 12/2020) 340200 0 0 0 33003 0 33490 0 17086 0 423779 0 50557 0 MADELEINE MELKONIAN SVP/ADMISSION & EXT. RELATION 196833 0 0 0 0 0 8575 0 32598 0 238006 0 0 0 ABED ELKESHK SENIOR EVP, TREASURER & CFO 203017 0 0 0 0 0 8578 0 18952 0 230547 0 0 0 KEVIN DEGROAT VP FOR OPERATIONS 166657 0 0 0 0 0 7555 0 44286 0 218498 0 0 0 SARAH STEVENSON FORMER PROVOST 150974 0 0 0 0 0 7044 0 49237 0 207255 0 0 0 LYNNE TOWMEY PROVOST 191049 0 0 0 0 0 7642 0 0 0 198691 0 0 0 JAMES BURKEE VP FOR STRATEGIC INITIATIVES 164536 0 0 0 0 0 0 0 15010 0 179546 0 0 0 W ADAM WICHERN VP INFO. AND TECH./CIO 153388 0 0 0 0 0 6492 0 16447 0 176327 0 0 0 COLETTE ATKINS VP/INSTITUTIONAL ADVANCEMENT 142194 0 0 0 0 0 5960 0 14612 0 162766 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE THE COLLEGE'S PRESIDENT, CHARLES FLYNN, RECEIVES A HOUSING ALLOWANCE FROM THE COLLEGE THAT IS INCLUDED IN TAXABLE INCOME AND REPORTED IN SCHEDULE J, PART II, COLUMN B(III). THE HOUSING ALLOWANCE IS PART OF THE PRESIDENT'S COMPENSATION PACKAGE IN HIS EMPLOYMENT AGREEMENT AS SUCH, THERE IS NO WRITTEN POLICY REGARDING PAYMENT OR REIMBURSEMENT. PART I, LINE 4B SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN CHARLES FLYNN PARTICIPATES IN A 457(F) PLAN. NO PAYMENTS WERE MADE UNDER THIS PLAN IN THE CURRENT YEAR. A NEW YORK INDUSTRIAL DEVELOPMENT AGENCY 132906040 649438BD9 2006-06-29 22117032 BUILD NYC RESOURCE CAMP 0 0 0 B BUILD NYC RESOURCE CAMP 454040561 2016-12-01 10880000 REFUNDING BONDS 0 0 0 A 17492032 22117032 1546138 442341 894831 17334328 1899394 2007 1 0 1 1 B 1980000 10880000 10880000 1 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 0 0 1 1 0 0 0 0 B 0 1 0 0 0 0 0 0 0 A 0 B 0 WRITTEN BOND POLICIES: THE ORGANIZATION HAS NOT VIOLATED ANY APPLICABLE REQUIREMENTS FOR TAX EXEMPT BONDS BENEFITING THE ORGANIZATION. THE ORGANIZATION IS WORKING WITH BOND COUNSEL TO ESTABLISH WRITTEN PROCEDURES TO ENSURE TIMELY IDENTIFICATION OF FEDERAL TAX REQUIREMENTS AND TIMELY CORRECTION OF ANY IDENTIFIED VIOLATIONS. PART IV, LINE 2C: FORM 8038-T HAS NOT BEEN FILED AS NO REBATE IS DUE. THE REBATE FOR THE SERIES 2006 BOND COMPUTATION WAS PERFORMED ON SEPTEMBER 30, 2016. X 6 468504 FMV 0 0 1 0 PART I, COLUMN (B): THE COLLEGE IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. GENERAL STATEMENT ABOUT THE PANDEMICS'S IMPACT ON THE COLLEGE: IN DECEMBER 2019, AN OUTBREAK OF A NOVEL STRAIN OF CORONAVIRUS ("COVID-19") EMERGED GLOBALLY, AND IN MARCH 2020 THE WORLD HEALTH ORGANIZATION DECLARED THE SPREAD OF COVID-19 A WORLDWIDE PANDEMIC. AS A RESPONSE TO THE COVID-19 PANDEMIC, THE U.S. FEDERAL GOVERNMENT PASSED THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT ("CARES ACT"). DURING FISCAL YEAR 2020, THE COLLEGE RECEIVED A $3,880,300 PAYROLL PROTECTION PROGRAM LOAN ("PPP") AS A RESULT OF THE CARES ACT. THE COLLEGE ACCOUNTED FOR THE PPP LOAN AS A CONDITIONAL CONTRIBUTION THAT WILL BE RECOGNIZED AS GRANT REVENUE WHEN THE CONDITIONS FOR USE OF THE FUNDS BEEN MET AND IT IS ACKNOWLEDGED BY THE LENDER THAT THE LOAN WILL BE FORGIVEN. THEREFORE, THIS FUNDING WAS RECORDED AS DEFERRED REVENUE IN THE ACCOMPANYING STATEMENTS OF FINANCIAL POSITION AT JUNE 30, 2021 AND 2020. THE PPP LOAN AND ACCRUED INTEREST ARE FORGIVABLE AS LONG AS THE COLLEGE USES THE LOAN PROCEEDS FOR ELIGIBLE PURPOSES, PRIMARILY FOR PAYROLL AND BENEFITS. THE COLLEGE APPLIED FOR FORGIVENESS DURING THE FISCAL YEAR ENDED JUNE 30, 2021, WHICH WAS GRANTED BY THE U.S. SMALL BUSINESS ADMINISTRATION ("SBA") ON JULY 12, 2021. THE HIGHER EDUCATION EMERGENCY RELIEF FUND ("HEERF") PROVIDES FUNDING TO INSTITUTIONS FOR EMERGENCY FINANCIAL AID GRANTS TO STUDENTS, AS WELL AS FUNDING TO SUPPORT THE COSTS OF SHIFTING CLASSES ONLINE AND OTHER INSTITUTIONAL COSTS INCURRED RELATED TO THE COVID-19 PANDEMIC. THE CARES ACT WAS SIGNED INTO LAW ON MARCH 17, 2020 AND PROVIDED THE COLLEGE WITH FUNDING UNDER HEERF I. THE CORONAVIRUS RESPONSE AND RELIEF SUPPLEMENTAL APPROPRIATIONS ACT ("CRRSAA") WAS SIGNED INTO LAW ON DECEMBER 27, 2020 AND PROVIDED THE COLLEGE WITH FUNDING UNDER HEERF II. EACH OF THESE AWARDS HAS A STUDENT AID PORTION AND AN INSTITUTIONAL PORTION. THE DEPARTMENT OF EDUCATION PROVIDED REQUIRED USES OF THE FUNDS FOR BOTH THE STUDENT AID AND INSTITUTIONAL PORTIONS, AND UNTIL THE CONDITIONS ASSOCIATED WITH THOSE REQUIREMENTS ARE SATISFIED, REVENUE CANNOT BE RECOGNIZED, IN ACCORDANCE WITH ASU 2018-08. FOR THE YEARS ENDED JUNE 30, 2021 AND 2020, THE COLLEGE RECOGNIZED $2,098,533 AND $1,837,871, RESPECTIVELY, IN GOVERNMENT GRANTS AND CONTRACTS REVENUE UNDER THE PROVISIONS OF THESE PROGRAMS IN THE ACCOMPANYING STATEMENTS OF ACTIVITIES. THE UNDISBURSED PORTIONS OF HEERF I AND II FUNDING WERE RECORDED AS DEFERRED REVENUE IN ACCOMPANYING STATEMENTS OF FINANCIAL POSITION. FORM 990, PART III, LINE 1: THE COLLEGE COMBINES A STRONG CORE CURRICULUM WITH A FULL ARRAY OF MAJORS IN THE LIBERAL ARTS AND, WITHIN THE TRADITION OF LIBERAL EDUCATION, SELECTED PROFESSIONAL FIELDS OF STUDY. AT MOUNT SAINT VINCENT, A STUDENT'S EDUCATION EXTENDS BEYOND KNOWLEDGE, SKILLS, AND PREPARATION FOR WORK. WE SEEK THE DEVELOPMENT OF THE WHOLE PERSON. IN THE SPIRIT OF VINCENT DE PAUL AND ELIZABETH ANN SETON, WE FOSTER AN UNDERSTANDING OF OUR COMMON HUMANITY, A COMMITMENT TO HUMAN DIGNITY, AND A FULL APPRECIATION OF OUR OBLIGATIONS TO EACH OTHER. THROUGH ITS SCHOOL OF PROFESSIONAL AND CONTINUING STUDIES, THE COLLEGE EXTENDS ITS PRIMARY UNDERGRADUATE MISSION BY OFFERING HIGH QUALITY GRADUATE STUDIES IN BUSINESS, EDUCATION AND NURSING AND AN ARRAY OF UNDERGRADUATE AND CERTIFICATE PROGRAMS SERVING NON-TRADITIONAL STUDENTS. FORM 990, PART III - PROGRAM SERVICE, LINE 4A: OUR STUDENT BODY IS COMPOSED OF MORE THAN 1,800 FULL AND PART-TIME STUDENTS. THE COLLEGE OFFERS FULL-TIME STUDENTS A RESIDENCE PROGRAM DESIGNED TO ENHANCE THEIR ENGAGEMENT, LEARNING, AND CITIZENSHIP. COLLEGE MAINTAINS FIVE RESIDENCE HALLS, EACH HOUSING BETWEEN 75 AND 250 STUDENTS AND OFFERING A VARIETY OF AMENITIES, INCLUDING STUDY-LOUNGES, KITCHENETTES, AND LAUNDRY ROOMS. FORM 990, PART VI, SECTION B, LINE 11B PROCESS USED TO REVIEW FORM 990 THE FORM 990 WAS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S FINANCIAL DEPARTMENT. THE FORM 990 WAS PRESENTED TO THE AUDIT COMMITTEE IN MAY OF 2022 AND A COPY THE DRAFT FORM 990 WAS CIRCULATED TO THE BOARD OF TRUSTEES FOR DISCUSSION AND COMMENT. THE BOARD OF TRUSTEES HAS DIRECTED THAT INFORMATION ON INDIVIDUAL DONORS NOT BE GENERALLY DISTRIBUTED. HOWEVER, THIS INFORMATION IS AVAILABLE TO ANY TRUSTEES WHO REQUEST IT FOR REVIEW. EACH AUDIT COMMITTEE MEMBER AND BOARD OF TRUSTEES MEMBER WAS PROVIDED AMPLE OPPORTUNITY TO COMMENT ON THE INFORMATION CONTAINED IN THE 990 PRIOR TO ITS FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C ENFORCEMENT AND MONITORING OF CONFLICT OF INTEREST POLICY POTENTIAL CONFLICTS OF INTEREST ARE REVIEWED ANNUALLY BY THE AUDIT COMMITTEE. RELATIONSHIPS BETWEEN BOARD MEMBERS, OFFICERS OR KEY EMPLOYEES OF THE COLLEGE MUST BE FULLY DISCLOSED. IN SUCH INSTANCE, THE TRUSTEE, OFFICER, OR KEY EMPLOYEE OF THE COLLEGE MUST: A. TRUSTEES 1) IF A TRUSTEE DISCLOSES THE EXISTENCE OF SUCH INTEREST AND DESCRIBES THE NATURE THEREOF TO THE OTHER TRUSTEES AT SUCH TIME AS ONE BECOMES AWARE OF IT, AND IN ALL INSTANCES PRIOR TO THE TIME FINAL ACTION IS TAKEN BY THE BOARD AND/OR THE EXECUTIVE COMMITTEE WITH RESPECT TO THAT MATTER; 2) ABSTAIN FROM VOTING THEREON, WITH THE MEETING MINUTES RECORDING SUCH ABSTENTION; AND 3) RECUSE HIMSELF/HERSELF FROM THE MEETING DURING SOME PORTION OF THE DISCUSSION OF THE MATTER IF THE BOARD CHAIRMAN SO REQUESTS THIS POLICY, HOWEVER, SHOULD NOT BE CONSTRUED AS PREVENTING THE TRUSTEE FROM BRIEFLY STATING HIS/HER POSITION IN THE MATTER, NOR FROM ANSWERING PERTINENT QUESTIONS OF OTHER TRUSTEES, NOR FROM RECOMMENDING THAT THE TRUSTEES ENTER INTO SUCH TRANSACTION, SINCE HIS/HER KNOWLEDGE MAY BE OF GREAT ASSISTANCE TO THE ENTIRE BOARD. B. OFFICERS 1) IF AN OFFICER DISCLOSES THE EXISTENCE OF SUCH INTEREST AND DESCRIBES THE NATURE THEREOF TO THE PRESIDENT AT SUCH TIME AS ONE BECOMES AWARE OF IT, AND IN ALL INSTANCES PRIOR TO THE TIME THE FINAL ACTION IS TAKEN BY THOSE RESPONSIBLE FOR THE RECOMMENDATION AND/OR DECISION INVOLVED; 2) ABSTAIN FROM MAKING A RECOMMENDATION OR DECISION ON THE MATTER INVOLVED AND SUBMIT A WRITTEN STATEMENT TO THE OFFICE OF THE PRESIDENT REPORTING HAVING RECUSED HIMSELF/HERSELF THEREON; THE PRESIDENT SHALL INFORM THE EXECUTIVE COMMITTEE OF THE BOARD. C. KEY EMPLOYEES 1) IF A KEY EMPLOYEE DISCLOSED THE EXISTENCE OF SUCH INTEREST AND DESCRIBES THE NATURE THEREOF TO THE APPROPRIATE SENIOR ADMINISTRATOR AND TO THE PRESIDENT AT SUCH TIME AS ONE BECOMES AWARE OF IT, AND IN ALL INSTANCES, PRIOR TO THE TIME THE FINAL ACTION IS TAKEN BY THOSE RESPONSIBLE FOR THE RECOMMENDATION AND/OR DECISION INVOLVED; 2) ABSTAIN FROM MAKING OR PARTICIPATING IN MAKING A RECOMMENDATION OR DECISION ON THE MATTER INVOLVED AND SUBMIT A WRITTEN STATEMENT TO THE OFFICE OF THE APPROPRIATE VICE PRESIDENT REPORTING HAVING RECUSED HIMSELF/HERSELF THEREON. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR DETERMINING COMPENSATION THE PROCESS OF DETERMINING THE PRESIDENT'S COMPENSATION IS DETERMINED AND VOTED ON BY THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE, WHICH IS RESPONSIBLE FOR REVIEWING AND DOCUMENTING THE COMPENSATION OF THE PRESIDENT, USES DATA PROVIDED BY AN INDEPENDENT COMPENSATION CONSULTANT. DOCUMENTATION OF THE EXECUTIVE COMMITTEE'S DELIBERATIONS REGARDING PRESIDENTIAL COMPENSATION DECISIONS IS PREPARED, APPROVED BY THE COMMITTEE AND FILED WITH OTHER BOARD-RELATED DOCUMENTS THAT ARE MAINTAINED AT THE COLLEGE. THE EXECUTIVE COMMITTEE REPORTS CHANGES TO THE PRESIDENT'S COMPENSATION IN EXECUTIVE SESSION TO THE FULL BOARD. THE PROCESS OF SETTING COMPENSATION FOR COMPENSATION OF OTHER OFFICERS (VP'S) AND THE PROVOST OF THE ORGANIZATION IS DETERMINED BY THE CEO (PRESIDENT) BASED UPON COMPARABILITY DATA. THE MOST RECENT COMPENSATION STUDY WAS CONDUCTED DURING FISCAL YEAR 2017. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS TO THE PUBLIC THE COLLEGE MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC BY RETAINING A COPY AT ITS PLACE OF BUSINESS. THE FORM 990 IS LIKEWISE PUBLISHED ON THE INTERNET AT WWW.GUIDESTAR.ORG. THE ORGANIZATION'S FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT ORDINARILY MADE AVAILABLE TO THE PUBLIC, BUT, IF REQUESTED, WILL BE PROVIDED AT MANAGEMENT'S DISCRETION.