2021-05-12T16:34:11-05:00 2020-06-30 KPMG LLP 60 South Street Boston MA 02111 990 2019-07-01 050258932 PROVIDENCE COLLEGE % JOHN SWEENEY SVP FINANCE/CF PROV 4018651000 ONE CUNNINGHAM SQUARE PROVIDENCE RI 02918 JOHN M SWEENEY SR VP FINANCE/CFO 4018652281 2021-05-11 true TODD P TERESCO P00247720 6179881000 2019 2022-09-23 18:48:47Z Rev Kenneth Sicard OP ONE CUNNINGHAM SQUARE PROVIDENCE RI 02918 450679395 false 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. 38 34 2966 40 262785 21325239 20466943 273749060 274133915 17158711 1336322 4378279 3363531 316611289 299300711 79813842 84261100 0 0 111939217 116446740 181886 0 5062759 102080431 94482826 294015376 295190666 22595913 4110045 753499934 748292244 192566967 179457582 560932967 568834662 X 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, SEE SCHEDULE O. false false 242273758 84261100 275377113 Providence College offers Undergraduate Degrees, Graduate Degrees, and Certificate Programs. Committed to academic excellence, the college's 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. The college offers 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. 242273758 true true false true false false false false false true true true false false true true true false true false true false false false true false false true true true true false false false false false true true false false false true false false false false true true true false false true 642 0 true 2966 true true true false false false false true true true false false false true false X 38 34 false false false false true true true true true false false true true true true true true true true false CO KY MA MI NH NJ PA SC X JOHN SWEENEY SVP FINANCECF 4018652281 ONE CUNNINGHAM SQUARE PROVIDENCE RI 02918 Edward Cooley Mens Basketball Coach 40.0 0.0 X 3290181 0 160369 Nathan Leaman Mens Hockey Coach 40.0 0.0 X 774818 0 105724 Robert Driscoll VP & Director of Athletics 40.0 0.0 X 512687 0 103142 Gregory Waldron SR VP Instit. Advancement 40.0 0.0 X 486870 0 58251 James Crowley Women's Basketball Coach 40.0 0.0 X 436802 0 57138 Hugh Lena SR VP Academic Affairs/Provos 40.0 0.0 X 345648 0 49698 John Sweeney SR VP Finance & Business/CFO 40.0 0.0 X 307590 0 82324 Sylvia Maxfield Dean School of Business 40.0 0.0 X 299860 0 50335 Kristine Goodwin VP Student Affairs 40.0 0.0 X 286134 0 56295 Steven Napolillo Asst VP/SR Assoc Ad Ext Rel. 40.0 0.0 X 288809 0 48514 Marifrances Mcginn VP & Gen Counsel 40.0 0.0 X 279862 0 49159 Ann Manchester Molak VP Ext Affairs/MKT/BR 40.0 0.0 X 231586 0 44182 Christopher Neronha VP & Gen Counsel AS OF 7.1.19 40.0 0.0 X 139334 0 9488 Rev Brian J Shanley OP PRESIDENT & TRUSTEE 40.0 0.0 X X 0 0 60240 Rev Kenneth R Sicard OP TREASURER & TRUSTEE 40.0 0.0 X X 0 0 49673 Rev James Cuddy OP VP Mission & Ministry 40.0 0.0 X 0 0 24933 David J Aldrich TRUSTEE 2.0 0.0 X 0 0 0 Karl W Anderson TRUSTEE 2.0 0.0 X 0 0 0 Duane M Bouligny TRUSTEE 2.0 0.0 X 0 0 0 Joseph M Calabria Jr TRUSTEE 2.0 0.0 X 0 0 0 John A Cervione TRUSTEE 2.0 0.0 X 0 0 0 Robert J Clark TRUSTEE 2.0 0.0 X 0 0 0 William F Concannon TRUSTEE AS OF 7/1/2019 2.0 0.0 X 0 0 0 Thomas P Corcoran TRUSTEE 2.0 0.0 X 0 0 0 John P Dawley TRUSTEE AS OF 7/1/2019 2.0 0.0 X 0 0 0 Sharon T Driscoll TRUSTEE 2.0 0.0 X 0 0 0 Colleen M Duffy BOARD SECRETARY 3.0 0.0 X X 0 0 0 Susan M Esper BOARD V CHAIR/AUDIT COMM CHAIR 2.0 0.0 X X 0 0 0 Henry C Foley TRUSTEE 2.0 0.0 X 0 0 0 Rev Edward M Gorman TRUSTEE AS OF 7/1/2019 2.0 0.0 X 0 0 0 Richard E Gotham TRUSTEE 2.0 0.0 X 0 0 0 V Rev Acquinas Guilbeau OP TRUSTEE 2.0 0.0 X 0 0 0 John J Houlihan TRUSTEE AS OF 7/1/2019 2.0 0.0 X 0 0 0 Michael J Joyce TRUSTEE 2.0 0.0 X 0 0 0 Heidi M Kenny TRUSTEE 2.0 0.0 X 0 0 0 Douglas A Kingsley TRUSTEE 2.0 0.0 X 0 0 0 Rev John A Langlois OP TRUSTEE 2.0 0.0 X 0 0 0 Dennis J Langwell TRUSTEE 2.0 0.0 X 0 0 0 V Rev Kenneth R Letoille OP TRUSTEE 2.0 0.0 X 0 0 0 John R McCarthy TRUSTEE 2.0 0.0 X 0 0 0 Meg McCarthy TRUSTEE 2.0 0.0 X 0 0 0 Andre E Owens Esq TRUSTEE 2.0 0.0 X 0 0 0 Kevin C Phelan TRUSTEE 2.0 0.0 X 0 0 0 John J Powers TRUSTEE 2.0 0.0 X 0 0 0 Kevin P Quirk TRUSTEE 2.0 0.0 X 0 0 0 Christopher K Reilly BOARD CHAIR 2.0 0.0 X X 0 0 0 Megan C Smith TRUSTEE 2.0 0.0 X 0 0 0 Peter Q Thompson TRUSTEE 2.0 0.0 X 0 0 0 Most Rev Thomas J Tobin DD TRUSTEE 4.0 0.0 X 0 0 0 Christopher F Virgulak TRUSTEE 2.0 0.0 X 0 0 0 Mark T Voll TRUSTEE AS OF 7/1/2019 2.0 0.0 X 0 0 0 Monica Denise Womack TRUSTEE AS OF 7/1/2019 2.0 0.0 X 0 0 0 7680181 0 1009465 224 true true false SODEXO INC 9801 Washington Blvd GAITHERSBURG MD 20878 FOOD SERVICES 11343995 Farrar Associates Inc 31A Bridge St NEWPORT RI 02840 CONSTRUCTION SERVICE 7204130 UG2 LLC 116 Hungtington Avenue 12th Floor BOSTON MA 02116 JANITORIAL SERVICES 4700899 The 02908 Club 168 Eaton Street PROVIDENCE RI 02909 Management Services 1451024 Bond Brothers Inc 10 Cabot Rd Suite 300 MEDFORD MA 02155 Construction Service 1420514 72 248550 5040216 15178177 2182879 20466943 TUITION & FEES 611600 224919038 224919038 ROOM REVENUE 721000 25308518 25308518 BOARD REVENUE 721000 13358937 13358937 ATHLETICS REVENUE 900099 10439468 10439468 AUXILIARY REVENUE 721000 107954 107954 274133915 1960748 -44937 2005685 0 550000 550000 127350 144315 -16965 0 -16965 -16965 150453008 151077434 -624426 -624426 -624426 126500 248550 156935 -30435 -30435 0 0 0 0 0 0 COMMISSIONS 900099 728526 728526 PACT PROGRAM 900099 379423 379423 SCHNEIDER ARENA RENTALS 900099 307722 307722 1445260 863775 581485 2860931 299300711 275377113 262785 3193870 59741 59741 84201359 84201359 0 0 2926578 1359009 1201427 366142 0 88428332 64405400 21210595 2812337 5760282 4165526 1371831 222925 13438505 9702672 3195375 540458 5893043 4250497 1399814 242732 0 144760 144760 258310 258310 18000 13541 4459 0 1767523 1767523 5572752 4077509 1342844 152399 721503 542757 178746 2416159 1696744 558788 160627 3053196 2296794 756402 0 4909698 3693364 1216334 1349451 903923 297689 147839 0 0 5981969 4499990 1481979 0 22907369 17194384 5662617 50368 1203822 905586 298236 FOOD SERVICE 10513792 10376264 95327 42201 BUILDING & GROUND MAINT. 8960177 6740374 2219803 ATHLETICS GAMES & SUPPLIES 5169828 5169828 TUITION PAID TO OTHER SCHOOLS 6328229 6328229 13206288 9690267 3191290 324731 295190666 242273758 47854149 5062759 11227992 22537403 0 0 15367448 11349252 7969967 7958872 25714 14286 0 0 0 0 0 0 959489 551610 808907697 343398836 474850573 465508861 129077902 72991948 108845788 162372373 0 0 0 0 5175061 5007639 753499934 748292244 16145364 12958939 0 0 16561724 15470315 152177890 144746867 0 0 0 0 947535 631692 0 0 6734454 5649769 192566967 179457582 X 371064799 379878215 189868168 188956447 560932967 568834662 753499934 748292244 X 4110045 4529626 -737976 X false true X true true true X 33286940 21127413 17878764 21325239 20466943 114085299 0 0 33286940 21127413 17878764 21325239 20466943 114085299 9411323 104673976 2180014 2272853 3910472 5602290 2683035 16648664 0 4329598 3731093 3709388 3670789 2679709 18120577 148854540 1287134852 0.70320 0.69510 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 18000 18000 false Form Sch C Part II-B Line 1i Lobbying Activities PROVIDENCE COLLEGE PAYS ADVOCACY SOLUTIONS TO SUPPORT INITIATIVES OF THE COLLEGE WHICH INCLUDE LOBBYING ACTIVITIES. 234228360 4050089 4083127 4929874 5711448 231720254 238528635 10626654 8696420 4757585 18865764 234228360 221071443 16959609 11347583 4565851 6284149 238528635 198601326 12278420 21684174 4430927 7061550 221071443 208738341 6714308 -5778021 4235935 6837367 198601326 0.29000 0.45000 0.26000 true false 5575655 5575655 708398302 272227022 436171280 80177278 64517178 15660100 14756462 6654636 8101826 465508861 LIMITED PARTNERSHIPS 41938625 F HEDGE FUNDS 117928994 F OTHER INVESTMENTS 2500000 F DEPOSITS WITH TRUSTEES 4754 F 162372373 0 ACCRUED INTEREST PAYABLE 1069222 REFUNDABLE ADVANCE-GOVT GRANT 4580547 5649769 X 303247936 4529626 1604649 -720777 5413498 297834438 1767523 -301250 1466273 299300711 295346241 1604649 318449 1923098 293423143 1767523 1767523 295190666 ENDOWMENT FUNDS PART V, LINE 4 THE INTENDED USE OF THE COLLEGE'S ENDOWMENT IS TO FUND STUDENT SCHOLARSHIPS AND PROJECTS. 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, 2020, but it is not significant to the financial statements. The College believes it has taken no significant uncertain tax positions. OTHER REVENUES INCLUDED IN FINANCIAL STATEMENTS NOT INCLUDED ON FORM 990 PART XI, LINE 2D Uncollectible Pledges $ (720,777) OTHER REVENUES INCLUDED ON FORM 990 NOT INCLUDED IN FINANCIAL STATEMENTS PART XI, LINE 4B FUNDRAISING EXPENSES $ (156,935) Rental Expenses $ (144,315) ----------- Total $ (301,250) OTHER EXPENSES INCLUDED IN FINANCIAL STATEMENTS NOT INCLUDED ON FORM 990 PART XII, LINE 2D FUNDRAISING EXPENSES $ 156,935 Rental Expenses $ 144,315 Post Retirement Benefit Obligation $ 17,199 ----------- Total $ 318,449 ----------- true true true true true true true false false false false false false false false true false true NONDISCRIMINATORY POLICY line 3 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. GOVERNMENT AID OR ASSISTANCE LINE 6A THE COLLEGE PARTICIPATES IN VARIOUS GOVERNMENTAL ASSISTANCE PROGRAMS INCLUDING THE FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS AND FEDERAL WORK STUDY PROGRAM. Central America and the Caribbean Investments 96718238 Europe (Including Iceland and Greenland) Investments 1559104 Central America and the Caribbean Program Services EDUCATIONAL ACTIVITES 1905 East Asia and the Pacific Program Services EDUCATIONAL ACTIVITES 567567 Europe (Including Iceland and Greenland) Program Services EDUCATIONAL ACTIVITES 5719876 Middle East and North Africa Program Services EDUCATIONAL ACTIVITES 38411 North America Program Services EDUCATIONAL ACTIVITES 36834 South America Program Services EDUCATIONAL ACTIVITES 113244 Sub-Saharan Africa Program Services EDUCATIONAL ACTIVITES 63773 104818952 104818952 true false true true true true EXPENDITURES PART I, LINE 3, COLUMN (F) EXPENDITURES IN COLUMN (F) ARE BASED ON THE ACCRUAL METHOD OF ACCOUNTING. Newport vision 204500 138500 66000 2000 3000 13615 42006 MIH vision cup 170550 110050 60500 1500 20000 16560 58254 0 0 0 0 0 0 0 0 0 0 375050 248550 126500 3500 0 23000 30175 0 100260 156935 -30435 true Providence Community Library PO Box 9267 Providence RI 02940 364640304 501(C)(3) 15000 General Support Semper Veritas LLC 549 River Ave Providence RI 02908 843265910 501(C)(3) 10000 General Support Inspiring Minds 190 Broad Street 2nd Floor West Providence RI 02903 050310175 501(C)(3) 10000 General Support A Wish Come True Inc 1010 Warwick Ave Warwick RI 02888 050398808 501(C)(3) 10000 General Support Youth Pride LLC 743 Westminister Street Providence RI 02903 050478645 501(C)(3) 5250 General Support 5 STUDENT SCHLORSHIPS & FINANCIAL AID 2830 72270859 ATHLETIC SCHOLARSHIPS 274 9777686 FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT 238 944300 CARES Act Emergency Student Grants 1348 1208514 MONITOR THE USE OF GRANT FUNDS IN THE U.S. PART I, LINE 2 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 FEDERAL CARES ACT HIGHER EDUCATION EMERGENCY RELIEF FUND EMERGENCY STUDENT AID THE UNIVERSITY RECEIVED CERTAIN FUNDING UNDER THE CARES ACT TO PROVIDE AID TO STUDENTS DURING THE YEAR THAT ENDED JUNE 30, 2020. THE UNIVERSITY WILL RECEIVE $1,349,783 FROM THE HIGHER EDUCATION EMERGENCY RELIEF FUND (HEERF) FOR THIS PURPOSE. THE FUNDS WERE USED FOR EMERGENCY FINANCIAL AID GRANTS TO STUDENTS UNDER THE 18004(A)(1) CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT (CARES ACT). THE UNIVERSITY DISBURSED $1,208,514 TO STUDENTS AS OF JUNE 30, 2020 TO ASSIST THE STUDENTS IN THEIR TRANSITION. X X true true X X X true true false false false false false false false Edward Cooley Mens Basketball Coach 2784336 0 352000 0 153845 0 128000 0 32369 0 3450550 0 0 0 Nathan Leaman Mens Hockey Coach 486307 0 266250 0 22261 0 78000 0 27724 0 880542 0 0 0 Robert Driscoll VP & Director of Athletics 401250 0 68200 0 43237 0 78000 0 25142 0 615829 0 0 0 Gregory Waldron SR VP Instit. Advancement 344290 0 0 0 142580 0 28000 0 30251 0 545121 0 0 0 James Crowley Women's Basketball Coach 348179 0 68000 0 20623 0 28000 0 29138 0 493940 0 0 0 Hugh Lena SR VP Academic Affairs/Provos 332444 0 0 0 13204 0 28000 0 21698 0 395346 0 0 0 John Sweeney SR VP Finance & Business/CFO 282412 0 8150 0 17028 0 28000 0 54324 0 389914 0 0 0 Sylvia Maxfield Dean School of Business 296440 0 0 0 3420 0 28000 0 22335 0 350195 0 0 0 Kristine Goodwin VP Student Affairs 235254 0 0 0 50880 0 24610 0 31685 0 342429 0 0 0 Steven Napolillo Asst VP/SR Assoc Ad Ext Rel. 243250 0 20000 0 25559 0 24500 0 24014 0 337323 0 0 0 Marifrances Mcginn VP & Gen Counsel 24728 0 0 0 255134 0 28000 0 21159 0 329021 0 0 0 Ann Manchester Molak VP Ext Affairs/MKT/BR 220887 0 0 0 10699 0 22508 0 21674 0 275768 0 0 0 HOUSING ALLOWANCE AND HEALTH OR SOCIAL CLUB DUES PART I, LINE 1A THE FOLLOWING LISTED BENEFITS WERE PROVIDED BY THE COLLEGE DURING CALENDAR YEAR 2019. LISTED BENEFITS TO EMPLOYEES CEASE UPON THEIR TERMINATION DATE. THE COLLEGES PRESIDENT, REV. BRIAN J. SHANLEY, OP AND THE COLLEGES EVP/TREASURER, REV. KENNETH R. SICARD, OP WERE PROVIDED WITH ON CAMPUS HOUSING. THE HOUSING WAS EXCLUDED FROM THE INCOME OF REV. BRIAN J. SHANLEY, OP AND REV. KENNETH R. SICARD, OP AS IT MEETS THE EXCEPTION UNDER INTERNAL REVENUE CODE SECTION 119(D). THE SR VP OF FINANCE/CFO WAS PROVIDED WITH OCCASIONAL HOUSING IN COLLEGE OWNED PROPERTY. THE HOUSING WAS TAXABLE AND INCLUDED IN HIS FORM W-2. THE COLLEGES PRESIDENT, REV. BRIAN J. SHANLEY, OP, NATHAN LEAMAN, HOCKEY COACH, GREGORY WALDRON, SR VP OF INSTITUTIONAL ADVANCEMENT, STEVEN NAPOLILLO, VP/ASSOCIATE ATHLETIC DIRECTOR OF EXTERNAL RELATIONS, AND EDWARD COOLEY, BASKETBALL COACH, WERE PROVIDED WITH SOCIAL CLUB MEMBERSHIPS PAID BY THE COLLEGE. THE MEMBERSHIP DUES PAID BY THE COLLEGE FOR REV. BRIAN J. SHANLEY, 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, LINE 4A SEVERANCE UNDER THE TERMS OF THE SEPARATION AGREEMENT BETWEEN MARIFRANCES MCGINN AND THE COLLEGE, SALARY CONTINUANCE PAYMENTS WILL BE MADE THROUGH 2/5/20. AS PART OF HER SEPARATION AGREEMENT, MARIFRANCES MCGINN RECEIVED SEVERANCE OF $238,255, 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). SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN PART I, LINE 4B 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 521300173 762197UW9 2017-03-29 50394917 Construction false false false B RI Health & Educational Bldg Corp 521300173 762197RZ6 2015-07-16 51061015 Refunding of 2008 Bonds & Construc false false false C RI Health & Educational Bldg Corp 521300173 762197LS8 2012-11-20 40616916 Advance refunding of 2003A Bonds false false false D RI Health & Educational Bldg Corp 521300173 762197JH5 2012-01-25 40337074 Construction false false false A 0 0 50732059 0 0 0 376819 0 0 50355240 0 0 2019 false false true true B 8510000 0 51111229 0 0 0 375619 0 0 35253587 15482023 0 2017 true false true true C 16050000 0 40617466 0 0 0 234178 0 0 0 40383288 0 2014 false true true true D 6515000 0 40345323 0 0 0 335840 0 0 40009483 0 0 2015 false false true true A false false true true false 0.00000 0.00000 0.00000 false false 0.00000 false true B false false true true false 0.00000 0.00000 0.00000 false false 0.00000 false true C false false true true false 0.00000 0.00000 0.00000 false false 0.00000 false true D false false true true false 0.00000 0.00000 0.00000 false false 0.00000 false true A false false false true false false 0 false 0 false true B false false false true false false 0 false 0 false true C false false false true false false 0 false 0 false true D false false false true false false 0 false 0 false true A true B true C true D true BOND PROCEEDS Part II, Line 3, Bond Issue A 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 B 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 C 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 D 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 III, LINE 3A PROVIDENCE HAS SERVICE CONTRACTS FOR JANITORIAL SERVICES IN ALL BUILDINGS. THE JANITORIAL CONTRACTS IN SPACE FINANCED BY THE SERIES 2017, 2015, 2012B AND 2012A BONDS QUALIFY UNDER A PRIVATE BUSINESS USE EXCEPTION FOR INCIDENTAL USE. THEREFORE, THESE CONTRACTS DO NOT RESULT IN PRIVATE BUSINESS USE. Part IV, Line 2c The rebate computation date for the series 2012A bond issue was 1/25/2020 The rebate computation date for the series 2012B bond issue was 10/31/2019 The rebate computation date for the series 2015 bond issue was 7/31/2019 The rebate computation date for the series 2017 bond issue was 2/29/20 GREGORY T WALDRON OFFICER PERSONAL X 80000 14286 false true true 14286 NA N/A 2500 Tuition Tuition Scholarship NA N/A 1000 Tuition Tuition Scholarship DANIEL F KILLIAN Family Member of John Killian, Board Chair COMPENSATION X 52 2116281 SELLING PRICE X 1 9526 FMV X MISCELLANEOUS 46 57072 FMV 1 false true false CONTRIBUTIONS PART I, COLUMN (B) THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. ORGANIZATION'S MISSION PART III, LINE 1 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 NEIGHBORS 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. 12-MEMBER CORPORATION PART VI, SECTION A, LINES 6-7B 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: THE PROVINCIAL OF THE PROVINCE OF ST. JOSEPH, THE ELECTED LEADER OF THE DOMINICAN ORDER FOR THE EASTERN REGION OF THE UNITED STATES; THE ROMAN CATHOLIC BISHOP OF THE DIOCESE OF PROVIDENCE; THE PRESIDENT OF THE COLLEGE; 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 REVIEW PROCESS PART VI, SECTION B, LINE 11A 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/TREASURER, 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. CONFLICT OF INTEREST POLICY PART VI, SECTION B, LINE 12C 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 CHAIRMEN 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. COMPENSATION POLICY PART VI, SECTION B, LINE 15 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 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/TREASURER, 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 EXTERNAL AFFAIRS, MARKETING, & BOARD RELATIONS, VP & DIRECTOR OF ATHLETICS, AND VP FOR MISSION AND MINISTRY. THIS PROCESS IS DONE ANNUALLY. PROVIDENCE COLLEGE'S PRESIDENT AND EVP/TREASURER ARE MEMBERS OF THE DOMINICAN FRIARS, A CATHOLIC RELIGIOUS ORDER. THEY ARE 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. PUBLIC DISCLOSURE POLICY PART VI, SECTION C, LINE 19 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. OTHER CHANGES IN NET ASSETS OR FUND BALANCES PART XI, LINE 9 PART VI, SECTION C, LINE 19 Uncollectible Pledges $ (720,777) Post Retirement Benefit Obligation $ (17,199) -------------- TOTAL $ (737,976) CHARITABLE REMAINDER TRUSTS (5) INVESTING RI PC Trust true CHARITABLE PERPETUAL TRUSTS (3) INVESTING RI PC Trust true false false false false false false false false false false false false false false false false false true Charitable Perpetual Trust s 58000 CASH