2021-05-13T14:17:37-05:00 2020-06-30 550486667 ARNETT CARBIS TOOTHMAN LLP 5700 CORPORATE DRIVE STE 650 PITTSBURGH PA 15237 990 2019-07-01 251698677 LAKE ERIE COLLEGE OF OSTEOPATHIC MEDICINE LAKE 8148666641 5515 PEACH STREET ERIE PA 16509 STEVEN G INMAN CPA CGMA VP FISCAL AFFAIRS/CFO 8148666641 2021-05-11 1 KELLY A BROCIOUS CPA P01254262 4126356270 2021-05-11 2019 2022-09-23 18:48:47Z JOHN M FERRETTI DO 5515 PEACH STREET ERIE PA 16509 255518212 0 X WWW.LECOM.EDU X 1993 PA THE MISSION OF LAKE ERIE COLLEGE OF OSTEOPATHIC MEDICINE (LECOM) IS TO PREPARE STUDENTS TO BECOME OSTEOPATHIC PHYSICIANS, PHARMACY PRACTITIONERS AND DENTISTS THROUGH PROGRAMS OF EXCELLENCE IN EDUCATION, RESEARCH, CLINICAL CARE, AND COMMUNITY SERVICES TO ENHANCE THE QUALITY OF LIFE THROUGH IMPROVED HEALTH FOR ALL HUMANITY. 12 6 1069 7 2195425 0 9772919 11005185 133954925 136062681 18813599 8911247 8126997 6758553 170668440 162737666 4118919 4236265 0 0 44320694 44080756 0 0 0 49227583 48684853 97667196 97001874 73001244 65735792 564559506 601786639 48848875 49166945 515710631 552619694 X THE MISSION OF LAKE ERIE COLLEGE OF OSTEOPATHIC MEDICINE (LECOM) IS TO PREPARE STUDENTS TO BECOME OSTEOPATHIC PHYSICIANS, PHARMACY PRACTITIONERS AND DENTISTS THROUGH PROGRAMS OF EXCELLENCE IN EDUCATION, RESEARCH, CLINICAL CARE, AND COMMUNITY SERVICES TO ENHANCE THE QUALITY OF LIFE THROUGH IMPROVED HEALTH FOR ALL HUMANITY. 0 0 72632583 4236265 140137201 LECOM IS ONE OF THE 34 COLLEGES OF OSTEOPATHIC MEDICINE. IN 1992, THE LAKE ERIE COLLEGE OF OSTEOPATHIC MEDICINE RECEIVED PRE-ACCREDITATION STATUS FROM THE AMERICAN OSTEOPATHIC ASSOCIATION. AFTER FURTHER PREPARATION, LECOM ACHIEVED A CHARTER FROM THE COMMONWEALTH OF PENNSYLVANIA AND FULL ACCREDITATION STATUS WITH THE AMERICAN COUNCIL ON PHARMACEUTICAL EDUCATION. IT IS ONE OF OVER 140 PHARMACY SCHOOLS IN THE UNITED STATES. LECOM HAS INITIAL ACCREDITATION STATUS WITH THE AMERICAN DENTAL ASSOCIATION'S COMMISSION ON DENTAL ACCREDITATION. IT IS ONE OF 66 DENTAL SCHOOLS IN THE UNITED STATES. THE GOAL OF LAKE ERIE COLLEGE OF OSTEOPATHIC MEDICINE IS TO EDUCATE QUALIFIED STUDENTS TO BECOME OSTEOPATHIC PHYSICIANS IMBUED WITH THE PHILOSOPHICAL PRINCIPLES OF OSTEOPATHIC MEDICINE. IT IS THE STATED PURPOSE OF THE COLLEGE TO EDUCATE AND DEVELOP FAMILY PHYSICIANS IN THE OSTEOPATHIC TRADITION. AT THE SAME TIME, IT PROPOSES TO PROVIDE ITS STUDENTS WITH FIRM ACADEMIC BACKGROUND SO THAT THOSE WHO WISH MAY ADVANCE FURTHER INTO THE OSTEOPATHIC SPECIALTIES OR ACADEMIC CAREERS, PARTICULARLY FOR AND WITH OSTEOPATHIC COLLEGES. THE GOAL OF THE SCHOOL OF PHARMACY AND SCHOOL OF DENTAL MEDICINE IS TO PREPARE PHARMACY AND DENTAL PROFESSIONALS WHO ARE COMMITTED TO PROVIDE HIGH-QUALITY, ETHICAL, AND EMPATHETIC PATIENT-CENTERED CARE TO SERVE THE NEEDS OF A DIVERSE POPULATION.THREE ACADEMIC DOCTORAL DEGREES ARE CURRENTLY CONFERRED AT LECOM. THE DOCTOR OF OSTEOPATHY (DO), THE DOCTOR OF PHARMACY, AND THE DOCTOR OF DENTAL MEDICINE ARE AWARDED TO GRADUATES WHO HAVE SATISFACTORILY FULFILLED THE REQUIREMENTS FOR GRADUATION. THE FIRST MEDICAL CLASSES BEGAN ON AUGUST 9, 1993 AND 61 STUDENTS ENROLLED. THE COLLEGE BEGAN A SCHOOL OF PHARMACY IN THE FALL OF 2002. FIRST CLASSES FOR THE SCHOOL OF DENTAL MEDICINE BEGAN IN AUGUST, 2012. FOR THE FISCAL YEAR ENDED JUNE 30, 2020, THERE WERE OVER 4,200 MEDICAL, PHARMACY, DENTAL, POST-BACCALAUREATE, AND MASTERS STUDENTS ENROLLED. THE COLLEGE HAS THREE CAMPUSES: ERIE, PENNSYLVANIA, GREENSBURG, PENNSYLVANIA, AND BRADENTON, FLORIDA. 72632583 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 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 1 179 0 1069 1 1 1 0 0 0 0 1 1 0 0 1 0 X 12 6 1 0 0 0 1 0 1 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X STEVEN G INMAN CPA CGMA 8148644031 5515 PEACH STREET ERIE PA 16509 SILVIA M FERRETTI DO PROVOST/VP OF ACADEMICS 73.00 7.00 X X 1267943 0 33910 JOHN M FERRETTI DO PRESIDENT/CEO 56.00 24.00 X X 1101728 0 33790 MARLENE D MOSCO CHAIRMAN 1.00 1.00 X X 0 0 0 MARY L ECKERT SECRETARY 4.00 76.00 X X 12045 847565 34093 RICHARD P OLINGER TREASURER 28.00 37.00 X X 42139 354588 44530 DENNIS M STYN TRUSTEE 5.00 60.00 X 0 388822 44502 JAMES Y LIN DO TRUSTEE 1.00 60.00 X 0 459068 38635 JOAN L MOORE DO TRUSTEE 1.00 X 0 0 0 NANCY PEADEN TRUSTEE 1.00 X 0 0 0 THOMAS J WEDZIK TRUSTEE 1.00 X 0 0 0 SUZANNE K KELLEY DO TRUSTEE 1.00 X 0 0 0 GERALD P ALONGE TRUSTEE 1.00 X 0 0 0 STEVEN G INMAN CPA CGMA VP FISCAL AFFAIRS/CFO 28.00 37.00 X 280665 0 28323 HERSHEY BELL MD VP ACADEMIC AFFAIRS & DEAN 40.00 X 435576 0 39809 RICHARD TERRY DO REGIONAL DEAN, CHIEF ACADEMIC OFFICER 40.00 X 318610 0 35501 MARK KAUFFMAN DO ASSOCIATE DEAN OF ACADEMIC 40.00 X 317381 0 28256 MICHAEL ROWANE DO PROFESSOR 40.00 X 332862 0 39809 REGAN P SHABLOSKI DO ASSISTANT DEAN OF CLINICAL 40.00 X 258709 0 38125 MATTHEW BATEMAN PHD DEAN - SCHOOL OF DENTAL MEDICINE 40.00 X 307481 0 36078 4675139 2050043 475361 115 0 1 0 HUEBER-BREUER CONSTRUCTION CO PO BOX 515 SYRACUSE NY 13205 CONSTRUCTION SERVICES 2663350 KINGSVIEW ENTERPRISES INC 7 WEST FIRST STREET LAKEWOOD NY 14750 CONTRACTED SERVICES 1263820 WILLIS A SMITH CONSTRUCTION 5001 LAKEWOOD RANCH BLVD SARASOTA FL 34240 CONSTRUCTION SERVICES 1210584 RABE ENVIRONMENTAL SYSTEMS PO BOX 645782 PITTSBURGH PA 15264 MAINTENANCE SERVICES 1072573 JAS MANAGEMENT 1001 STATE STREET SUITE 1102 ERIE PA 16501 CONSULTING SERVICES 876796 40 1753418 5544904 3706863 11005185 TUITION AND FEES 611430 134829381 134829381 APPLICATION FEES 611430 1233300 1233300 136062681 9638967 9638967 425692 0 425692 425692 425692 91937043 10859 92675622 0 -738579 10859 -727720 -727720 167840 1753418 104924 62916 62916 OTHER REVENUE 900099 3838971 3838971 WELLNESS CENTER/COFFEE CULTURE 713940 2195425 2195425 OPTI DUES 900099 235549 235549 6269945 162737666 140137201 2195425 9399855 4236265 4236265 2811601 2811601 33539503 26093733 7445770 1779886 1384751 395135 3428822 2667624 761198 2520944 1961294 559650 100858 100858 775252 775252 58000 58000 340042 264553 75489 1619052 1619052 8833859 6872742 1961117 4523214 3519060 1004154 3073924 2391513 682411 470899 366359 104540 5943277 4623870 1319407 836748 650990 185758 14072 10948 3124 8976818 6983964 1992854 2855265 2221396 633869 STUDENT ROTATION FEES 3867110 3867110 REPAIRS AND MAINTENANCE 1693759 1317745 376014 DUES AND SUBSCRIPTIONS 1482165 1153124 329041 CONTRIBUTIONS 561368 561368 2659171 2045542 613629 97001874 72632583 24369291 0 66610616 56285527 39084209 41003479 7158490 1929950 586560 474995 4775766 4454675 233804064 102013069 124039719 131790995 320073132 363372004 2231014 2475014 564559506 601786639 8963974 8795620 36464925 36906115 3419976 3465210 48848875 49166945 X 512733356 549057078 2977275 3562616 515710631 552619694 564559506 601786639 X 65735792 2123271 -30950000 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 340042 340042 0 PART II-B, LINE 1: THE ORGANIZATION HAS RETAINED GOVERNMENTAL COUNSEL TO REPRESENT ITS INTERESTS IN LEGISLATIVE AND OTHER GOVERNMENTAL MATTERS AT BOTH THE STATE AND FEDERAL LEVELS. 2977275 1027225 430292 11592 3562616 2913651 228057 115736 48697 2977275 2673555 388019 73628 74295 2913651 2621003 292279 187251 52476 2673555 2068935 582514 6249 24197 2621003 1.00000 0 0 15112316 15112316 160626312 73228532 87397780 34828749 25579093 9249656 23236687 3205444 20031243 131790995 DUE TO AFFILIATES 1941257 457(B) PLAN 1168696 OPTI FUND 355257 3465210 X 158525203 2123271 546808 2670079 155855124 6882542 6882542 162737666 91251481 104924 104924 91146557 5855317 5855317 97001874 PART X, LINE 2: THE COLLEGE FOLLOWS THE GUIDANCE FOR ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE COLLEGE'S FINANCIAL STATEMENTS THAT PRESCRIBES A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS BEEN MET. THE GUIDANCE ALSO ADDRESSES DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, AND DISCLOSURE. MANAGEMENT HAS DETERMINED THAT THIS GUIDANCE HAD NO MATERIAL EFFECT ON THE FINANCIAL STATEMENTS. THE COLLEGE'S POLICY IS TO RECOGNIZE INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. THERE WERE NO INTEREST OR PENALTIES RECOGNIZED ON THE STATEMENTS OF ACTIVITIES AS A RESULT OF THIS GUIDANCE. GENERALLY, TAX RETURNS FOR YEARS ENDED JUNE 30, 2017 AND THEREAFTER REMAIN SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: NET ASSETS RELEASED FROM RESTRICTIONS 441,884. FUNDRAISING EXPENSES 104,924. PART XI, LINE 4B - OTHER ADJUSTMENTS: COLLEGE FUNDED SCHOLARSHIPS 4,236,265. TEMPORARILY RESTRICTED CONTRIBUTIONS AND GRANTS 1,027,225. INVESTMENT FEES 1,619,052. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 104,924. PART XII, LINE 4B - OTHER ADJUSTMENTS: COLLEGE FUNDED SCHOLARSHIPS 4,236,265. INVESTMENT FEES 1,619,052. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 LECOM HAS PUBLICIZED ITS NONDISCRIMINATORY POLICY THROUGH NEWSPAPER MEDIA. AUCTION 1921258 1753418 167840 1250 58664 45010 1921258 1753418 167840 1250 58664 45010 104924 62916 1 STUDENT SCHOLARSHIPS 1399 4236265 X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 SILVIA M FERRETTI DO PROVOST/VP OF ACADEMICS 1241920 0 0 0 26023 0 22400 0 11510 0 1301853 0 0 0 JOHN M FERRETTI DO PRESIDENT/CEO 1068890 0 0 0 32838 0 22400 0 11390 0 1135518 0 0 0 MARY L ECKERT SECRETARY 0 822207 0 0 12045 25358 0 22400 5529 6164 17574 876129 0 0 RICHARD P OLINGER TREASURER 30094 354588 0 0 12045 0 0 22400 5529 16601 47668 393589 0 0 DENNIS M STYN TRUSTEE 0 363453 0 0 0 25369 0 22400 0 22102 0 433324 0 0 JAMES Y LIN DO TRUSTEE 0 444008 0 15000 0 60 0 22400 0 16235 0 497703 0 0 STEVEN G INMAN CPA CGMA VP FISCAL AFFAIRS/CFO 280573 0 0 0 92 0 21899 0 6424 0 308988 0 0 0 HERSHEY BELL MD VP ACADEMIC AFFAIRS & DEAN 435170 0 0 0 406 0 22400 0 17409 0 475385 0 0 0 RICHARD TERRY DO REGIONAL DEAN, CHIEF ACADEMIC OFFICE 318346 0 0 0 264 0 18092 0 17409 0 354111 0 0 0 MARK KAUFFMAN DO ASSOCIATE DEAN OF ACADEMIC 317240 0 0 0 141 0 22400 0 5856 0 345637 0 0 0 MICHAEL ROWANE DO PROFESSOR 332598 0 0 0 264 0 22400 0 17409 0 372671 0 0 0 REGAN P SHABLOSKI DO ASSISTANT DEAN OF CLINICAL 258568 0 0 0 141 0 20914 0 17211 0 296834 0 0 0 MATTHEW BATEMAN PHD DEAN - SCHOOL OF DENTAL MEDICINE 307389 0 0 0 92 0 22400 0 13678 0 343559 0 0 0 PART I, LINE 1A THE ORGANIZATION SUBSCRIBES TO A CHARTER TRAVEL SHARED-SERVICE PROGRAM. THIS SERVICE IS USED SOLELY FOR BUSINESS PURPOSES. THE ORGANIZATION DOES NOT PAY FOR FIRST-CLASS TRAVEL. THE ORGANIZATION HOLDS AN ANNUAL OFF-SITE MEETING FOR WHICH IT PERMITS EACH PERSON NAMED ON FORM 990, PART VII, SECTION A TO BRING ONE GUEST. THE ORGANIZATION PAYS THE TRAVEL EXPENSES FOR THE INVITED GUEST. SARAH FERRETTI FAMILY MEMBER OF SILVIA M. FERRETTI, D.O & JOHN M. FERRETTI, D.O., TRUSTEES 11799 EMPLOYEE 0 ANTHONY JOHN FERRETTI DO FAMILY MEMBER OF SILVIA M. FERRETTI, D.O & JOHN M. FERRETTI, D.O., TRUSTEES 119450 EMPLOYEE 0 FORM 990, PART VI, SECTION A, LINE 2 DR. JOHN M. FERRETTI, D.O. DR. SILVIA M. FERRETTI, D.O. PRES/CEO PROVOST/VP OF ACADEMICS FAMILY RELATIONSHIP FORM 990, PART VI, SECTION A, LINE 6 MILLCREEK HEALTH SYSTEM, THE FILING ORGANIZATION'S PARENT CORPORATION, IS THE SOLE MEMBER OF THE FILING ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7B MILLCREEK HEALTH SYSTEM IS THE PARENT CORPORATION OF LECOM. IN ACCORDANCE WITH MILLCREEK HEALTH SYSTEM'S BY-LAWS, ITS BOARD OF TRUSTEES HAS THE RIGHT TO APPROVE ANY AND ALL TRANSACTIONS THAT CHANGE, OR HAVE THE EFFECT OF CHANGING, THE OWNERSHIP AND/OR CONTROL OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING ITS FORMS 990 AND 990-T, THE ORGANIZATION PROVIDED ITS BOARD MEMBERS WITH ACCESS TO ELECTRONIC COPIES OF THE TAX RETURNS AND INVITED COMMENTS AND QUESTIONS FROM THE BOARD MEMBERS. PRIOR TO FILING FORM 990 AND 990-T, MEMBERS OF THE ORGANIZATION'S FINANCIAL MANAGEMENT CONDUCTED DETAILED REVIEWS OF THE TAX FILINGS. THROUGHOUT THE REVIEW PROCESS, THERE WAS ONGOING DISCUSSION BETWEEN THE ORGANIZATION'S FINANCIAL MANAGEMENT AND THE TAX PREPARER. FORM 990, PART VI, SECTION B, LINE 12C EACH MEMBER OF THE BOARD OF TRUSTEES IS REQUIRED TO COMPLETE A STANDARDIZE CONFLICT OF INTEREST FORM ON AN ANNUAL BASIS. ANY POTENTIAL CONFLICTS OF INTEREST ARE ADDRESSED BY AN APPOINTED COMMITTEE WHOSE MEMBERS ARE INDEPENDENT WITH REGARD TO THE MATTER UNDER REVIEW. IF A POTENTIAL CONFLICT OF INTEREST ARISES, IT IS REVIEWED AND DOCUMENTED BY THE APPOINTED COMMITTEE, AND THEN THE APPOINTED COMMITTEE REPORTS THE RESULTS OF ITS REVIEW TO THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S BUDGET/FINANCE COMMITTEE, WHICH ALSO FUNCTIONS AS THE COMPENSATION COMMITTEE, REVIEWED A STUDY PERFORMED BY AN INDEPENDENT COMPENSATION CONSULTANT. ON AN ANNUAL BASIS, THE COMMITTEE REVIEWS VARIOUS FORM 990 FILINGS BY COMPARATIVE ORGANIZATIONS IN ORDER TO MAKE EXECUTIVE PAY COMPARISONS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: TRANSFER TO RELATED ENTITY -30,950,000. MILLCREEK HEALTH SYSTEM (MHS) 5515 PEACH ST ERIE PA 16509 251766164 PARENT CORPORATION PA 501(C)(3) LINE 12C, III-FI N/A 0 MILLCREEK COMMUNITY HOSPITAL 5515 PEACH ST ERIE PA 16509 251002937 HOSPITAL PA 501(C)(3) LINE 3 MILLCREEK HEALTH SYSTEM 0 MEDICAL ASSOCIATES OF ERIE ONE LECOM PLACE ERIE PA 16509 113716896 PHYSICIAN MANAGEMENT PA 501(C)(3) LINE 10 MILLCREEK HEALTH SYSTEM 0 MILLCREEK MANOR 5515 PEACH ST ERIE PA 16509 251619204 LONG TERM CARE PA 501(C)(3) LINE 3 MILLCREEK HEALTH SYSTEM 0 MILLCREEK HEALTH SYSTEM MEDICAL PRO 5515 PEACH ST ERIE PA 16509 576204119 LIABILITY INSURANCE PA 501(C)(3) LINE 12C, III-FI 0 ERIE CENTER ON HEALTH AND AGING 406 PEACH ST ERIE PA 16507 251361363 SENIOR HEALTH PA 501(C)(3) LINE 7 MILLCREEK HEALTH SYSTEM 0 VISITING NURSE ASSOCIATION OF ERIE COUNTY 2253 WEST GRANDVIEW BOULEVARD ERIE PA 16506 250969488 HOME HEALTH PA 501(C)(3) LINE 7 MILLCREEK HEALTH SYSTEM 0 CORRY MEMORIAL HOSPITAL ASSN (CMH) 965 SHAMROCK LANE CORRY PA 16407 250987222 HOSPITAL PA 501(C)(3) LINE 3 MILLCREEK HEALTH SYSTEM 0 CORRY MEDICAL SERVICES 965 SHAMROCK LANE CORRY PA 16407 251425220 HEALTH CARE PA 501(C)(3) LINE 12B, II CORRY MEMORIAL HOSPITAL ASSOCIATION 0 CORRY MEMORIAL HOSPITAL FOUNDATION 965 SHAMROCK LANE CORRY PA 16407 208285800 FUNDRAISING PA 501(C)(3) LINE 12B, II CORRY MEMORIAL HOSPITAL ASSOCIATION 0 LECOM AT PRESQUE ISLE 4114 SCHAPER AVE ERIE PA 16508 475049201 LONG TERM CARE PA 501(C)(3) LINE 10 MILLCREEK HEALTH SYSTEM 0 MCH CORPORATION 5515 PEACH ST ERIE PA 16509 251549695 REAL ESTATE PA MILLCREEK HEALTH SYSTEM C 0 CORRY HEALTH SERVICES INC 965 SHAMROCK LAME CORRY PA 16407 251488214 HEALTH CARE PA CORRY MEMORIAL HOSPITAL ASSOCIATION C 0 0 1 1 0 0 0 0 0 0 1 1 0 0 0 0 1 1 1 0