2022-05-13T16:06:45-05:00 2021-06-30 366055558 GRANT THORNTON LLP 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990 2020-07-01 111733439 ST JOSEPH'S COLLEGE STJO 7189405300 245 CLINTON AVENUE BROOKLYN NY 11205 JOHN C ROTH CFO 7189405616 2022-05-13 1 JOHN ROTH XXX-XX-XXXX SCOTT THOMPSETT P00741490 2125990100 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z DONALD BOOMGARDEN 245 CLINTON AVENUE BROOKLYN NY 11205 222349457 0 X WWW.SJCNY.EDU X 1916 NY THE COLLEGE PROVIDES A VALUE-ORIENTED UNGRADUATE & GRADUATE LIBERAL ARTS EDUCATION. 18 18 1597 170 0 0 9928787 15850318 126014346 120419244 870391 2549157 843345 588321 137656869 139407040 42667096 46771108 0 0 59002200 60132473 0 0 984829 30324505 26247120 131993801 133150701 5663068 6256339 130875975 175776915 32660090 55482916 98215885 120293999 X SEE SCHEDULE O 0 0 107226539 46771108 119114880 SEE SCHEDULE O 1044063 1335616 SEE SCHEDULE O 11642 THE CLARE ROSE PLAYHOUSE SERVES AS A MAJOR TEACHING FACILITY FOR THE COLLEGE'S THEATER COURSES AND A TRAINING GROUND FOR YOUNG ACTORS. THE PLAYHOUSE IS THE SITE OF COMMUNITY THEATER PRODUCTIONS OF MUSICALS, DRAMAS, COMEDIES, CABARET ACTS, MUSICAL PERFORMANCES, DANCE TROUPES AND COMEDIANS. THE PLAYHOUSE CLOSED TO THE PUBLIC BEGINNING IN MARCH OF 2020 DUE TO THE COVID-19 PANDEMIC; THE PLAYHOUSE RE-OPENED FOR BUSINESS IN NOVEMBER OF 2021. 108282244 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 125 0 1 1597 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X JOHN C ROTH 7189405616 245 CLINTON AVENUE BROOKLYN NY 11205 DONALD BOOMGAARDEN PRESIDENT (NON VOTING TRUSTEE) 35.00 0.00 X X 554913 0 61733 CHRISTOPHER R CARROLL ESQ CHAIR 1.00 0.00 X X 0 0 0 DR MARY ELLEN FREELEY EDD VICE CHAIR 1.00 0.00 X X 0 0 0 PETER M MEYER SECRETARY 1.00 0.00 X X 0 0 0 MATTHEW BARBIS CFS CTS BOARD MEMBER 1.00 0.00 X 0 0 0 MARY BUTZ BOARD MEMBER 1.00 0.00 X 0 0 0 W CHRISTIAN DREWES ESQ BOARD MEMBER 1.00 0.00 X 0 0 0 SISTER ANGELA GANNON CSJ BOARD MEMBER 1.00 0.00 X 0 0 0 SISTER ELIZABETH A JOHNSON BOARD MEMBER 1.00 0.00 X 0 0 0 SISTER HELEN KEARNEY CSJ BOARD MEMBER (THRU 06/2021) 1.00 0.00 X 0 0 0 BRENNIN J KROOG BOARD MEMBER 1.00 0.00 X 0 0 0 MARY M LAI BOARD MEMBER (THRU 08/2020) 1.00 0.00 X 0 0 0 DENNIS MCCARTHY BOARD MEMBER 1.00 0.00 X 0 0 0 SISTER KATHLEEN MCKINNEY CSJ BOARD MEMBER 1.00 0.00 X 0 0 0 MARGARET MOHAN MEEGAN BOARD MEMBER 1.00 0.00 X 0 0 0 MICHAEL W MEYERS ESQ BOARD MEMBER 1.00 0.00 X 0 0 0 RAYMOND MORALES BOARD MEMBER (AS OF 03/2021) 1.00 0.00 X 0 0 0 DR PAUL PETER ROMANELLO BOARD MEMBER 1.00 0.00 X 0 0 0 SUSAN SOMERVILLE BOARD MEMBER 1.00 0.00 X 0 0 0 JUDITH A STEARNS BOARD MEMBER (AS OF 04/2021) 1.00 0.00 X 0 0 0 LEONARD STEKOL CPA BOARD MEMBER 1.00 0.00 X 0 0 0 JOHN C ROTH CHIEF FINANCIAL OFFICER 35.00 0.00 X 290822 0 31597 ROBERT RILEY PROVOST 35.00 0.00 X 249686 0 29922 EILEEN JAHN EXECUTIVE DEAN - LI 35.00 0.00 X 233531 0 40768 GEORGIA-LYNN LAMENS VP ENROLLMENT MGMT. - LI 35.00 0.00 X 222480 0 28019 RORY-SHAFFER WALSH VP INSTITUTIONAL ADVANCEMENT 35.00 0.00 X 207655 0 17556 CHRISTINE MURPHY VP ENROLLMENT 35.00 0.00 X 205426 0 17146 PHILLIP DEHNE DEAN (AS OF 07/2020) 35.00 0.00 X 175657 0 42488 MICHELLE PAPAJOHN CHIEF INFORMATION OFFICER 35.00 0.00 X 176656 0 27461 SHANTEY HILL VP FOR STUDENT LIFE 35.00 0.00 X 175626 0 12661 RAYMOND D'ANGELO FORMER DEAN/CURRENT FACULTY 35.00 0.00 X 191127 0 36723 HEATHER BARRY FACULTY 35.00 0.00 X 176869 0 33508 KATHERINE GRANELLI FACULTY 35.00 0.00 X 187047 0 19382 SHAWN ROBERTSON FACULTY 35.00 0.00 X 159977 0 34761 GAIL LAMBERTA FACULTY 35.00 0.00 X 155833 0 20170 TOM TRAVIS FORMER PROVOST/CURRENT FACULTY 40.00 0.00 X 118756 0 20762 MICHAEL HANOPHY FORMER DEAN/CURRENT FACULTY 35.00 0.00 X 128152 0 40722 WENDY TURGEON FORMER DEAN/CURRENT FACULTY 35.00 0.00 X 144248 0 12127 SHERRIE VANARNAM VP FOR FORMER VP/CURRENT FACULTY 35.00 0.00 X 118564 0 34437 3873025 0 561943 79 1 1 0 UNIVERSAL PROTECTION SERVICES LP 161 WASHINGTON STREET CONSHOHOCKEN PA 19428 SECURITY SERVICES 542819 BENTEL & BENTEL ARCHITECTSPLANNERS 22 BUCKRAM ROAD LOCUST VALLEY NY 11560 ARCHITECTURAL 187126 GRANT THORNTON LLP 33570 TREASURY CENTER CHICAGO IL 606943500 FINANCIAL AUDIT 152905 KELLEY DRYE & WARREN LLP TREASURERS DEPT 101 PARK AVE NEW YORK NY 10178 LEGAL SERVICES 141640 MCALLISTER & QUINN LLC 1368 N WASHINGTON AVE SCRANTON PA 18509 CONSULTING SERVICES 105300 5 89580 13287095 2473643 9586 15850318 TUITION AND FEES 900099 118196596 118196596 CHILD STUDY CENTER 900099 1335616 1335616 STUDENT HOUSING 900099 887032 887032 120419244 714851 714851 267821 0 267821 267821 267821 84743611 82909305 1834306 1834306 1834306 32536 89580 33112 -576 -576 BOOKSTORE/VENDING/COMM 611710 51255 51255 ATHLETICS REVENUE 611420 31252 31252 STUDENT DINING SERVICE 611710 11514 11514 227055 227055 321076 139407040 120450496 0 3106226 46771108 46771108 2974897 1541199 1258314 175384 238653 238653 43826035 36739538 6643208 443289 2318085 1809972 471370 36743 7330678 5602292 1675410 52976 3444125 2859963 539957 44205 13308 13308 311485 311485 175707 175707 2113182 1149890 947391 15901 3533395 505091 3023190 5114 2502255 1220101 1172419 109735 2431460 684498 1746871 91 5003811 3386665 1593027 24119 128765 115865 12867 33 23351 16602 6749 1061088 760504 290021 10563 3869467 2786016 1044756 38695 884129 884129 BUILDING CONTRACTED SVC 1961336 1360845 581613 18878 STUDENT BAD DEBT 724869 0 724869 0 SCHEDULED EVENTS 510978 266863 239290 4825 BOOKS/MEMBERSHIPS/SUBS. 442285 221616 220664 5 556249 244963 307013 4273 133150701 108282244 23883628 984829 26582 13133 7991135 11951463 3355533 2540091 2835948 2289008 583241 492998 1683717 1610864 148325235 85887931 62407553 62437304 51879616 85160309 112650 9281745 130875975 175776915 6047025 5898954 6092025 5173612 18422883 35279194 126266 0 1971891 9131156 32660090 55482916 X 73479284 87177176 24736601 33116823 98215885 120293999 130875975 175776915 X 6256339 15116913 704862 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 290 290 0 PART II-B, LINE 1: THROUGHOUT THE YEAR MEMBERS OF THE MARKETING AND COMMUNICATIONS STAFF VOICED THEIR CONCERNS REGARDING THE REINSTATEMENT OF BUNDY DIRECT AID FUNDING TO THE STATE ASSEMBLY AND SENATE. IN ADDITION, MEMBERS OF THE INSTITUTIONAL ADVANCEMENT OFFICE REPORTED ON TOPICS RELATED TO REGIONAL ECONOMIC FUNDING. TOTAL EXPENSES RELATED TO THESE LOBBYING ACTIVITIES TOTALED $290. 48040768 3217555 17302966 950341 67610948 42520958 4519464 1784098 783752 48040768 36966095 3754426 2573674 773237 42520958 31756760 307635 5563861 662161 36966095 25896143 2697587 3768852 605822 31756760 0.52873 0.27249 0.19878 0 0 8497726 8497726 104182507 57437745 46744761 0 33052188 28450186 4602003 2592814 2592814 62437304 RIGHT OF USE ASSETS - OPERATING LEASES 7638566 OTHER RECEIVABLES 916789 RIGHT OF USE ASSETS - FINANCING LEASES 591711 BENEFICIAL INTEREST IN TRUSTS 134679 9281745 OPERATING LEASE LIABILITIES 7863676 FINANCING LEASE LIABILITIES 781663 REFUNDABLE GOV'T GRANTS 385249 BENEFICIAL INTEREST IN TRUSTS 100568 9131156 X 108282000 15116913 704862 15821775 92460225 175707 46771108 46946815 139407040 86203886 0 86203886 175707 46771108 46946815 133150701 PART V, LINE 4: INTENDED USE OF ENDOWMENT FUND ST. JOSEPH'S COLLEGE HOLDS AN ENDOWMENT FOR THE PURPOSE OF GENERATING FUNDS TO SUPPORT THE COLLEGE'S EDUCATIONAL MISSION. ENDOWMENT EARNINGS ARE INTENDED TO BE USED TO FUND SCHOLARSHIPS, FACILITY UPGRADES, AND EDUCATIONAL PROGRAMS. THE COLLEGE WOULD PREFER TO LEAVE THE PRINCIPAL UNTOUCHED. PART IX, RIGHT-OF-USE ASSETS, THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") IMPLEMENTED A NEW LEASE ACCOUNTING STANDARD THAT BECAME EFFECTIVE FOR NEW YORK COLLEGE OF TECHNOLOGY IN THE YEAR ENDING JUNE 30, 2021. THIS ACCOUNTING STANDARD WAS EFFECTUATED TO IMPROVE THE TRANSPARENCY SURROUNDING KEY INFORMATION PERTAINING TO AN EXEMPT ORGANIZATION'S LEASING ARRANGEMENTS (AND TO ENSURE THAT ALL ORGANIZATIONS WERE RECORDING THE TRANSACTIONS UNIFORMLY ON THEIR BALANCE SHEETS). THE INCREASE IN ASSETS AND LIABILITIES REPORTED ON THE COLLEGE BALANCE SHEET IS A FUNCTION OF THE COLLEGE COMPLYING WITH THE NEW ACCOUNTING PRONOUNCEMENT. THE COLLEGE HAS BOOKED A RIGHT-OF-USE ASSET (AND CORRESPONDING LIABILITY) ON ITS BALANCE SHEET IN EXCESS OF $8M. PART X, LINE 2: PROVISION FOR INCOME TAXES THE COLLEGE ADOPTED THE PROVISIONS OF ASC 740, ACCOUNTING FOR UNCERTAINTIES IN INCOME TAXES. ASC 740-10 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 STANDARD PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN BE RECOGNIZED IN THE FINANCIAL STATEMENTS ONLY 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 COLLEGE IS EXEMPT FROM FEDERAL AND NEW YORK INCOME TAXATION BY VIRTUE OF BEING AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE IRC AND SIMILAR PROVISIONS OF THE NEW YORK STATE TAX CODE. NEVERTHELESS, THE COLLEGE MAY BE SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. MANAGEMENT BELIEVES THAT THERE ARE NO UNCERTAIN TAX POSITIONS WITHIN ITS FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FAIR MARKET VALUE OF SPLIT INTEREST AGREEMENTS 704,862. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSE 46,771,108. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSE 46,771,108. 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 MAKES CERTAIN TO PUBLICIZE ITS NONDISCRIMINATORY POLICY IN AS MANY PUBLICATIONS AS POSSIBLE, INCLUDING, BUT NOT LIMITED TO, ITS COLLEGE CATALOGUE, BULLETINS & BROCHURES, NEWSPAPER ADS, AND IN OTHER PUBLIC COMMUNICATIONS. SCHEDULE E, PART I, LINE 6 THE COLLEGE ADMINISTERS STUDENT FINANCIAL AID THROUGH GOVERNMENT FUNDED PROGRAMS SUCH AS THE PERKINS PROGRAM AND PELL GRANTS. IN ADDITION, ST. JOSEPH'S COLLEGE PARTICIPATED IN VARIOUS GOVERNMENTAL SUBSIDY PROGRAMS. THE HEERF GRANT PROGRAM PROVIDES EMERGENCY FINANCIAL AID TO STUDENTS IMPACTED BY THE COVID-19 PANDEMIC. THE COLLEGE PROVIDED EMERGENCY FINANCIAL AID GRANTS TO STUDENTS OF $2,749,614 IN THE YEAR ENDING JUNE 30, 2021. GOLF TOURNAMENT 122116 89580 32536 554 359 20962 1800 14438 122116 89580 32536 554 359 20962 1800 14438 38113 -5577 1 STUDENT AID/SCHOLARSHIPS 3869 44021494 HEERF FUNDS TO STUDENTS 2370 2749614 PART I, LINE 2: DESCRIPTION FOR MONITORING THE USE OF GRANT FUNDS IN THE UNITED STATES THE COLLEGE PROVIDES SCHOLARSHIPS TO STUDENTS MATRICULATING AT THE COLLEGE. CERTAIN CRITERIA ARE ESTABLISHED THAT EACH STUDENT IS REQUIRED TO MEET TO RETAIN THEIR SCHOLARSHIP. THE COLLEGE DOES NOT NEED TO MONITOR THE USE OF SCHOLARSHIP FUNDS AS THOSE AMOUNTS ARE DIRECTLY SPENT TO DEFRAY THE COST OF TUITION. THERE IS NO OPPORTUNITY FOR THE FUNDS TO BE DIRECTED TO ANOTHER PURPOSE. IN ADDITION, THE COLLEGE DISPENSED CERTAIN EMERGENCY FINANCIAL AID TO STUDENTS AS REQUIRED BY THE HIGHER EDUCATION EMERGENCY RELIEF FUND "HEERF." NO FURTHER MONITORING OF THE USE OF HEERF FUNDING IS REQUIRED BY THE COLLEGE (AS THE AID IS NOT DISPENSED UNLESS THE STUDENT MEETS THE ELIGIBILITY REQUIREMENTS). STUDENT EMERGENCY AID OFFERED AS PART OF THE HEERF PROGRAM IS INCLUDED ON SCHEDULE I, PART III. X 1 0 X X 0 0 0 0 0 0 0 0 0 DONALD BOOMGAARDEN PRESIDENT (NON VOTING TRUSTEE) 506913 0 0 0 48000 0 19950 0 41783 0 616646 0 0 0 JOHN C ROTH CHIEF FINANCIAL OFFICER 290822 0 0 0 0 0 19950 0 11647 0 322419 0 0 0 ROBERT RILEY PROVOST 249686 0 0 0 0 0 17616 0 12306 0 279608 0 0 0 EILEEN JAHN EXECUTIVE DEAN - LI 233531 0 0 0 0 0 13214 0 27554 0 274299 0 0 0 GEORGIA-LYNN LAMENS VP ENROLLMENT MGMT. - LI 222480 0 0 0 0 0 15713 0 12306 0 250499 0 0 0 RAYMOND D'ANGELO FORMER DEAN/CURRENT FACULTY 191127 0 0 0 0 0 11169 0 25554 0 227850 0 0 0 RORY-SHAFFER WALSH VP INSTITUTIONAL ADVANCEMENT 207655 0 0 0 0 0 14806 0 2750 0 225211 0 0 0 CHRISTINE MURPHY VP ENROLLMENT 205426 0 0 0 0 0 14557 0 2589 0 222572 0 0 0 PHILLIP DEHNE DEAN (AS OF 07/2020) 175657 0 0 0 0 0 10376 0 32112 0 218145 0 0 0 HEATHER BARRY FACULTY 176869 0 0 0 0 0 7602 0 25906 0 210377 0 0 0 KATHERINE GRANELLI FACULTY 187047 0 0 0 0 0 7076 0 12306 0 206429 0 0 0 MICHELLE PAPAJOHN CHIEF INFORMATION OFFICER 176656 0 0 0 0 0 12686 0 14775 0 204117 0 0 0 SHAWN ROBERTSON FACULTY 159977 0 0 0 0 0 7655 0 27106 0 194738 0 0 0 SHANTEY HILL VP FOR STUDENT LIFE 175626 0 0 0 0 0 12508 0 153 0 188287 0 0 0 GAIL LAMBERTA FACULTY 155833 0 0 0 0 0 7864 0 12306 0 176003 0 0 0 MICHAEL HANOPHY FORMER DEAN/CURRENT FACULTY 128152 0 0 0 0 0 9921 0 30801 0 168874 0 0 0 WENDY TURGEON FORMER DEAN/CURRENT FACULTY 144248 0 0 0 0 0 10230 0 1897 0 156375 0 0 0 SHERRIE VANARNAM VP FOR FORMER VP/CURRENT FACULTY 118564 0 0 0 0 0 8883 0 25554 0 153001 0 0 0 TOM TRAVIS FORMER PROVOST/CURRENT FACULTY 118756 0 0 0 0 0 8456 0 12306 0 139518 0 0 0 PART I, LINE 1A PRESIDENT BOOMGAARDEN RECEIVED A HOUSING ALLOWANCE FROM THE COLLEGE IN THE CALENDAR YEAR ENDED DECEMBER 31, 2020. THE COLLEGE HAS DETERMINED THAT THE HOUSING ALLOWANCE IS TAXABLE TO THE PRESIDENT AND INCLUDED THE VALUE OF THE HOUSING IN HIS WAGES. THE AMOUNT IS DISCLOSED IN SCHEDULE J, PART II, COLUMN (B)(III). PRESIDENT BOOMGAARDEN ALSO RECEIVED AN AUTO ALLOWANCE FROM THE COLLEGE IN THE CALENDAR YEAR ENDED DECEMBER 31, 2020 WHICH THE COLLEGE DETERMINED TO BE NONTAXABLE TO THE PRESIDENT. THE AMOUNT IS INCLUDED IN SCHEDULE J, PART II, COLUMN (D). A DORMITORY AUTHORITY OF THE STATE OF NEW YORK 146000293 64990G4Y5 2021-01-21 17403021 CONSTRUCT STUDENT CTR, PUMP STATION & SEWER SYSTEM 0 0 0 B DORMITORY AUTHORITY OF THE STATE OF NEW YORK 146000293 64990GV33 2020-06-18 18948105 REFI SERIES 2010 FOR CONSTRUCT ATHLETIC FACILITY 0 0 0 A 17403021 348061 17054960 0 0 0 1 B 18948105 378962 18569143 2020 0 1 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 SCHEDULE K PART II, LINE 12, COLUMN A THE COLLEGE DID NOT DRAWDOWN ON ITS NEWLY ISSUED 2021 BOND ISSUANCE UNTIL AFTER THE CLOSE OF THE FISCAL YEAR. PART III, LINE 1, ORGANIZATION'S MISSION: ST. JOSEPH'S COLLEGE WAS FOUNDED IN 1916 IN BROOKLYN, NEW YORK AND EXISTS TODAY WITH ITS ORIGINAL CAMPUS IN BROOKLYN AND A BRANCH CAMPUS IN PATCHOGUE, NEW YORK. THE COLLEGE IS AN INDEPENDENT NOT-FOR-PROFIT INSTITUTION PROVIDING ACADEMIC UNDERGRADUATE AND GRADUATE LEVEL PROGRAMS. THE MISSION OF ST. JOSEPH'S COLLEGE IS TO PROVIDE STRONG ACADEMIC AND VALUE-ORIENTED EDUCATION AT THE UNDERGRADUATE AND GRADUATE LEVELS, ROOTED IN LIBERAL ARTS TRADITION THAT SUPPORTS PROVISION FOR CAREER PREPARATION AND ENHANCEMENT. THE COLLEGE PREPARES EACH STUDENT FOR A LIFE CHARACTERIZED BY INTEGRITY, INTELLECTUAL AND SPIRITUAL VALUES, SOCIAL RESPONSIBILITY, AND SERVICE - A LIFE THAT IS WORTHY OF THE COLLEGE'S MOTTO, ESSE NON VIDERI: "TO BE, NOT TO SEEM". PART III, LINE 4A, PROGRAM SERVICE ACCOMPLISHMENTS: EDUCATIONAL INSTITUTION OF HIGHER LEARNING THAT PROVIDES ACADEMIC UNDERGRADUATE AND GRADUATE LEVEL PROGRAMS. THE COLLEGE PROVIDES STRONG ACADEMIC AND VALUE-ORIENTED PROGRAMS ROOTED IN A LIBERAL ARTS TRADITION THAT SUPPORTS PROVISION FOR CAREER PREPARATION AND ENHANCEMENT. OUR STRONG ACADEMIC PROGRAMS INCLUDE - TWENTY-THREE UNDERGRADUATE MAJORS BETWEEN THE SCHOOLS OF ARTS AND SCIENCES AND PROFESSIONAL AND GRADUATE STUDIES - AN EXPANDED GRADUATE PROGRAM THAT INCLUDES NINE MASTER'S DEGREES - SEVERAL CERTIFICATE PROGRAMS THAT CAN ADVANCE A CAREER OR BE COMBINED WITH A MAJOR - A STUDENT-FACULTY RATIO OF 15:1 - MORE THAN 500 DEDICATED FACULTY, WHO ARE AVAILABLE IN A SMALL-CLASS ENVIRONMENT. PART III, LINE 4B, PROGRAM SERVICE ACCOMPLISHMENTS: THE DILLON CHILD STUDY CENTER OFFERS TODDLER, PRESCHOOL AND KINDERGARTEN PROGRAMS BASED ON THE CHILD DEVELOPMENT APPROACH TO THE EDUCATION OF YOUNG CHILDREN. LOCATED ON ST. JOSEPH'S COLLEGE CAMPUS IN THE CLINTON HILL SECTION OF BROOKLYN, DILLON, FOUNDED IN 1934, IS HISTORICALLY ONE OF THE FIRST COLLEGE PRESCHOOLS ON THE EAST COAST. LICENSED BY THE NEW YORK CITY DEPARTMENT OF HEALTH AND REGISTERED WITH THE NEW YORK STATE DEPARTMENT OF EDUCATION, DILLON SERVES OVER ONE HUNDRED CHILDREN, WITH FIVE CLASSES FOR PRE-KINDERGARTEN AND KINDERGARTEN CHILDREN AND AN INCLUSIVE CLASS OF BOTH TYPICALLY AND ATYPICALLY DEVELOPING CHILDREN. IN A CHILD-CENTERED ATMOSPHERE, CHILDREN LEARN THROUGH PLAY AND DEVELOP CONFIDENCE, COMPETENCE AND DISPOSITIONS FOR FUTURE LEARNING. ALL TEACHERS HAVE OBTAINED OR ARE WORKING TOWARD EARLY CHILDHOOD CERTIFICATION AND THEIR MASTER'S DEGREES. FORM 990, PART VI, SECTION B, LINE 11B PROCESS USED TO REVIEW FORM 990 THE FORM 990 WAS PREPARED BY A NATIONALLY RENOWNED ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S FINANCIAL DEPARTMENT. A COPY OF THE DRAFT FORM 990 WAS CIRCULATED TO THE FULL BOARD OF TRUSTEES FOR DISCUSSION AND COMMENT. EACH BOARD 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 OF CONFLICT OF INTEREST POLICY EACH OFFICER, DIRECTOR, TRUSTEE AND KEY EMPLOYEE OF THE COLLEGE IS REQUIRED TO ANNUALLY DISCLOSE ANY CONFLICTS OF INTEREST THAT ARISE BY VIRTUE OF THEIR EMPLOYMENT, BOARD SERVICE, OR POSITION WITH THE COLLEGE. THE COLLEGE MONITORS COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY THROUGH AN ANNUAL QUESTIONNAIRE/DISCLOSURE STATEMENT THAT IS DISTRIBUTED TO THESE INDIVIDUALS. POTENTIAL CONFLICTS ARE INVESTIGATED IMMEDIATELY. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR DETERMINING COMPENSATION THE COLLEGE UNDERTAKES A THOROUGH PROCESS TO ENSURE THAT THE EXECUTIVE COMPENSATION IT PAYS TO ITS TOP MANAGEMENT OFFICIAL AND ALL OF ITS OFFICERS AND KEY EMPLOYEES IS REASONABLE GIVEN THE MARKET IN WHICH THE COLLEGE OPERATES. IN RELEVANT PART, THE BOARD OF DIRECTORS HAS ESTABLISHED A COMPENSATION COMMITTEE OF INDEPENDENT PERSONS THAT HAVE NO PERSONAL INTEREST IN THE PROPOSED COMPENSATION AGREEMENT. THE COMPENSATION COMMITTEE COMPARES DATA FROM OTHER INSTITUTIONS TO ENSURE THAT THE COLLEGE COMPENSATES ITS EXECUTIVES COMMENSURATE WITH THE MARKET. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS TO THE PUBLIC THE ORGANIZATION 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. FORM 990, PART XI, LINE 9: CHANGE IN FAIR MARKET VALUE OF SPLIT INTEREST AGREEMENTS 704,862. GENERAL EXPLANATORY STATEMENT REGARDING THE COVID-19 IMPACT ON THE ORGANIZATION AS A RESULT OF THE COVID-19 PANDEMIC, IN MARCH 2020 THE COLLEGE CHANGED IT MODALITY OF EDUCATION TO REMOTE LEARNING. TO MITIGATE THE IMPACT OF THE COVID-19 PANDEMIC, THE COLLEGE PARTICIPATED IN SEVERAL GOVERNMENTAL PROGRAMS, INCLUDING THE HIGHER EDUCATION EMERGENCY RELIEF FUND ("HEERF"). THE COVID-19 PANDEMIC CONTINUES TO HAVE SIGNIFICANT EFFECTS ON HIGHER EDUCATION, GLOBAL MARKETS, SUPPLY CHAINS, BUSINESSES, AND COMMUNITIES. SPECIFIC TO THE COLLEGE, COVID-19 HAS IMPACTED VARIOUS PARTS OF ITS OPERATIONS AND FINANCIAL RESULTS AND MAY IMPACT PORTIONS OF ITS OPERATIONS AND FINANCIAL RESULTS IN THE FUTURE, INCLUDING, BUT NOT LIMITED TO, DECLINES IN ENROLLMENT, LOSS OF AUXILIARY REVENUES, ADDITIONAL BAD DEBTS, COSTS FOR INCREASED USE OF TECHNOLOGY AND SAFETY PROTOCOLS, OR POTENTIAL SHORTAGES OF PERSONNEL. MANAGEMENT BELIEVES THAT THE COLLEGE IS TAKING APPROPRIATE ACTIONS TO MITIGATE THE NEGATIVE IMPACT. 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 PANDEMIC. FOR THE YEARS ENDED JUNE 30, 2021 AND 2020, THE COLLEGE RECOGNIZED $8,841,596 AND $1,763,967, RESPECTIVELY, IN REVENUE UNDER THE PROVISIONS OF THE HEERF PROGRAMS AND IS RECORDED AS GOVERNMENT GRANTS AND CONTRACTED SERVICES WITHIN THE ACCOMPANYING STATEMENTS OF ACTIVITIES.