2021-05-10T13:17:15-05:00 2020-06-30 363990892 Capin Crouse LLP 1330 Avenue of the Americas Suite 23A New York NY 10019 990 2019-07-01 231409675 Eastern University EAST 6103415890 1300 Eagle Road St Davids PA 190873696 J Pernell Jones VP for Finance & Operations 6103415890 2021-05-10 1 Ted R Batson Jr P00721951 5055022746 2019 2022-09-23 18:48:47Z Ronald Matthews 1300 Eagle Road St Davids PA 190873696 110686298 0 X www.eastern.edu X 1952 PA Educational services producing lives of Christian faith, leadership and service 25 24 1519 50 240388 0 4036184 6862154 73909520 72052674 826363 312040 1431642 956516 80203709 80183384 29206567 29812005 0 0 30161761 30138780 20931 11000 1560628 21653557 20750863 81042816 80712648 -839107 -529264 97312015 97736290 37587928 39314455 59724087 58421835 X Eastern University is a Christian university dedicated through teaching and learning, scholarship, service, spiritual formation, student development, and stewardship to the preparation of undergraduate, theological, and graduate students for thoughtful and productive lives of Christian faith, leadership, and service. Achievement of that mission requires that the University manage effectively and justly the resources with which it is entrusted and that students evince a Christian world view through action and voice; advance critical thinking, reflection, analysis, and communication skills; develop intellectual curiousity, passion and agility; demonstrate knowledge and competencies in the arts, sciences, and professions; assume responsibility for justice - especially social, political and economic justice; assume responsibility for Godly stewardship of all resources; discern the ethical consequences of decisions and actions. 0 0 48823676 28379121 63795872 Instruction - Expenditures for all activities through which students earn credit toward postsecondary degrees or certificates, and the support services for the delivery of instruction. Includes expenditures for curriculum development, departmental research, education materials (e.g., libraries), laboratories and other services that directly assist the institution's academic functions, faculty development, and academic administration. 12757671 1103370 198353 Student Services - Funds expended for offices of admissions and registrar and those activities that contribute to the emotional and physical wellbeing of students, as well as their intellectual, cultural, and social development outside of the context of the formal instructional environment including student activities, counseling and career guidance, intercollegiate athletics, and student organizations. 5244323 329514 8762155 Auxiliary and Other Operations - Funds expended for auxiliary enterprises that generally operate as self-supporting programs by charging fees for the provision of goods and services; also includes expenditures for institutional support and plant operations attributable and/or allocable to the programmatic departments of the institution. 3980766 821 Academic Support - Funds expended to provide support services for the core, instructional mission of the University including operation of libraries and laboratories, instructional technologies, assessment, and academic administration. 3980766 821 70806436 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 1 1 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 1 0 0 0 1 4447 0 1 1519 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 25 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X J Pernell Jones 6103415948 1300 Eagle Road St Davids PA 190873696 X Robert Duffett Former President 40.00 X 159843 0 212487 Ronald Matthews President 40.00 X X 308382 0 33673 Kenton Sparks Provost 40.00 X 139345 0 84664 J Pernell Jones VP for Finance & Operations 40.00 X 143509 0 29364 Kathy Meza VP for Advancement (part year) 40.00 X 146829 0 18407 Eric McCloy Chief Information Officer 40.00 X 121495 0 29704 Albert Socci Dean - CBL 40.00 X 118947 0 31364 Christine Mahan VP for Inst Research & Assessment 40.00 X 128114 0 4355 Patricia Reger Dean - CHSS 40.00 X 107567 0 21101 Susan Edgar-Smith Dean - College of Education 40.00 X 112676 0 3234 Jacqueline B Irving Vice Provost for Students 40.00 X 103637 0 10727 Steve Clemens Chairman of the Board 1.00 X X 0 0 0 Charles A Olson III First Vice Chair 1.00 X X 0 0 0 Ardell Thomas Second Vice Chair 1.00 X X 0 0 0 Ronald B Evans Secretary 1.00 X X 0 0 0 Louis Barbarin Treasurer 1.00 X X 0 0 0 Robert Tomlinson Board Member 1.00 X 0 0 0 Jacob Chatman Board Member 1.00 X 0 0 0 Rev Danny Cortes Board Member 1.00 X 0 0 0 Rev Albert G Davis Jr Board Member 1.00 X 0 0 0 Matthew Kane Board Member 1.00 X 0 0 0 Frank Frischkorn Board Member 1.00 X 0 0 0 Rev Dr W Wilson Goode Sr Board Member 1.00 X 0 0 0 Stacey Sauchuk Board Member 1.00 X 0 0 0 Aljit Joy Board Member 1.00 X 0 0 0 Jean Kim Board Member 1.00 X 0 0 0 Michael Mandarino Board Member 1.00 X 0 0 0 Michael McNamara Board Member 1.00 X 0 0 0 Jeffrey Morrison Board Member 1.00 X 0 0 0 Dennis Tanner PhD Board Member 1.00 X 0 0 0 Rev Dr Alyn E Waller Board Member 1.00 X 0 0 0 Leah Mulhearn Board Member 1.00 X 0 0 0 Jon Seltenheim Board Member 1.00 X 0 0 0 Adam Shute Board Member 1.00 X 0 0 0 Stephanie Summers Board Member 1.00 X 0 0 0 Kevin Cramton Board Member (part year) 1.00 X 0 0 0 Richardson T Merriman Board Member (part year) 1.00 X 0 0 0 Tom Ridington VP for Advancement 40.00 X 0 0 0 1590344 0 479080 11 1 1 0 Sodexo Inc 1300 Eagle Rd St Davids PA 19087 Dining Services 1486264 CSI International 6700 N Andres Ave Suite 400 Ft Lauderdale FL 33309 Facility Services 377763 Shearon Environmental Design 5160 Militia Hill Rd Plymouth Meeting PA 19462 Landscaping Design & Maintenance 192718 Tustin Mechanical Service 2555 Industry Lane Norristown PA 19403 Mechanical Services 126679 D2L LTD 210 W Pennsylvania Ave Towson MD 21204 Learning Management Systems 121970 9 3697508 3164646 68596 6862154 Tuition and fees 611600 63795872 63795872 Auxiliary income 611600 7844289 7844289 Rental income 531390 412513 412513 72052674 717526 717526 52606 52606 22681 11080 11601 11601 11601 30033742 30491834 -458092 -458092 -458092 Conferences 721310 233996 233996 Swimming pool 713990 6392 6392 704527 704527 944915 80183384 72757201 240388 323641 29507218 29507218 304787 304787 1027158 777608 249550 271246 23726 247520 21593610 18580139 2293331 720140 1201019 958609 191999 50411 4473493 3636035 718151 119307 1572254 1303731 204958 63565 98497 6335 92162 115203 115203 11000 11000 30702 30702 1991666 1630854 288741 72071 1637592 1619154 1711 16727 1479551 1044786 335404 99361 1482903 518284 853992 110627 1954258 1865200 89058 1072386 958990 79290 34106 107686 88439 5829 13418 1403073 1057917 345156 3015756 2283095 732661 292917 197 292720 Food Service & Dining 2392748 2392748 Esperanza expense 1977480 1977480 Books/Magazines/Library 400491 400491 1297954 648221 649388 345 80712648 70806436 8345584 1560628 6200 3752 8930713 9908042 21836 58500 3759786 5558512 1781761 1544337 112118250 70603576 41941739 41514674 29255529 28619186 746186 498015 10868265 10031272 97312015 97736290 3831252 4435131 1124921 3923581 30302967 28797886 2328788 2157857 37587928 39314455 X 30001372 30024101 29722715 28397734 59724087 58421835 97312015 97736290 X -529264 -22988 -750000 X 0 1 X 1 1 1 X 3871210 4060832 5031784 4036184 6862154 23862164 3871210 4060832 5031784 4036184 6862154 23862164 580811 23281353 1317985 1043925 1126169 1391491 792813 5672383 84725 62053 23253 170031 1003228 1151866 1193401 729198 704527 4782220 34486798 368402532 0.67510 0.64620 X Schedule A, Part II, Line 10, Explanation of Other Income: Other income - 2015 Amount: $ 988,002. 2016 Amount: $ 1,118,481. 2017 Amount: $ 1,129,080. 2018 Amount: $ 673,898. 2019 Amount: $ 704,527. Special event revenue - 2015 Amount: $ 15,226. 2016 Amount: $ 33,385. 2017 Amount: $ 64,321. 2018 Amount: $ 55,300. 2019 Amount: $ 0. Schedule A, Part II: The organization is a school as described under 170(b)(1)(A)(ii) and is not required to complete a public support schedule. Schedule A, Part II is completed to verify the School can qualify under public charity status section 170(b)(1)(A)(vi) and, therefore, qualifies to use the first listed special rule for Schedule B reporting. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 30450336 932644 331033 634526 1306522 29772965 30671842 598060 965618 590666 1194518 30450336 29034682 1258247 2129393 550021 1200459 30671842 26500329 918833 2950782 292235 1043027 29034682 28463478 357462 -296379 372567 1651665 26500329 0.10890 0.89110 0 0 5922384 5922384 76336615 46240519 30096096 1227438 1034792 192646 17999067 16210306 1788761 10632746 7117959 3514787 41514674 Beneficial interest in perpetual trusts 994364 Due from Collegiate Housing Foundation 556905 Beneficial interest in remainder trusts 126039 Assets held for sale 8353964 10031272 Annuities payable 872062 Student deposits 993831 Advances from federal gov't for student loans 291964 2157857 50682139 -22988 11080 -11908 50694047 30702 29458635 29489337 80183384 51984391 11080 11080 51973311 30702 28708635 28739337 80712648 Part V, Line 4: Endowment funds are intended to earn investment income and to fund future operations. Form 990, Schedule D, Part V, Lines 2a-2c: In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 06/30/2020. To date, Form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Schedule D, Part V, Lines 2a-2c: Line 2a - Without donor restrictions Line 2b - With donor restrictions Part XI, Line 2d - Other Adjustments: Rent expense included on Part VIII, Line 6b 11,080. Part XI, Line 4b - Other Adjustments: Scholarships and Student Aid 28,708,635. Loss on impairment of assets held for sale 750,000. Part XII, Line 2d - Other Adjustments: Rent expense included on Part VIII, Line 6b 11,080. Part XII, Line 4b - Other Adjustments: Scholarships and Student Aid 28,708,635. 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 organization currently enrolls students of racial minority groups in meaningful numbers consistent with the publicity exception found in Rev. Proc. 75-50 section 4.03(2)(c). Schedule E, Part I, Line 6 Title IV federal funds (e.g., Direct Loans, Pell, SEOG, FWS) are received for assistance to the University's eligible students. The University also recieved Higher Education Emergency Relief Funds as part of the Coronavirus Aid, Relief and Economic Security Act funding. 1 North America - Canada and Mexico 0 0 Grants to Recipients 291975 North America - Canada and Mexico 0 1 Program Services Education 143905 East Asia and the Pacific 0 4 Program services Recruiting Students, Education 68938 Sub-Saharan Africa 0 0 Grants to Recipients 12812 Sub-Saharan Africa 0 4 Program services Education 7845 0 9 0 0 0 9 525475 0 525475 Financial aid Sub-Saharan Africa 2 12812 Apply as payment to student bill Financial aid North America - Canada and Mexico 67 291975 Apply as payment to student bill 0 0 0 0 0 0 Part I, Line 2: Grants are awarded to foreign individuals attending educational programs in foreign countries. Grants are awarded based on compliance with eligibility requirements. Awarded grants are applied directly by the University to the student tuition billing. Part I, line 3: Expenditures are accounted for using the accrual basis of accounting. Part III Accounting Method: 1 Scholarships and grants to students for educational programs at the University 3423 28074334 Resident hall discounts/assistance 810 329514 CARES Act Grants 1231 1103370 Part I, Line 2: Grants are awarded to individuals based on compliance with eligibility requirements. Award grant and assistance amounts are applied by the University to the student tuition billing. X X 1 1 X X X X X X 1 0 0 0 0 0 0 0 0 Robert Duffett Former President 0 0 0 0 159843 0 57700 0 154788 0 372331 0 0 0 Ronald Matthews President 306405 0 0 0 1977 0 9757 0 25290 0 343429 0 0 0 Kenton Sparks Provost 131683 0 0 0 7662 0 9188 0 76472 0 225005 0 0 0 J Pernell Jones VP for Finance & Operations 135148 0 0 0 8361 0 4427 0 25790 0 173726 0 0 0 Kathy Meza VP for Advancement (part year) 141088 0 0 0 5741 0 4292 0 14948 0 166069 0 0 0 Eric McCloy Chief Information Officer 121288 0 0 0 207 0 3894 0 26583 0 151972 0 0 0 Albert Socci Dean - CBL 118532 0 0 0 415 0 3900 0 28136 0 150983 0 0 0 Part I, Line 1a Travel for Companions The travel for companions is for the President's wife. The travel is for a bona fide business purpose and is not treated as taxable compensation. Housing Allowance Pursuant to the Internal Revenue Code Section 107, ministerial housing allowances are provided for qualifying ministerial employees. This is not included in taxable compensation. The Provost and former President met the qualifications for and received a ministerial housing allowance during the tax year. Part I, Line 4a Robert Duffett, Former President, received a separation of services payment of $372,330 in 2019. A Delaware County Authority 231973437 245913JB5 2006-10-26 15802394 Construction 0 0 0 B Delaware County Authority 231973437 245913KZ0 2012-06-29 21511845 Refinancing of 1999/2010 bonds and construction 0 0 0 C Delaware County Authority 231973437 2013-01-02 4180000 Refinance of 2007 bonds 0 0 0 A 4815000 15863675 1046786 291400 394705 14130784 2008 0 0 1 1 B 5290000 21641673 2131298 399019 3500000 15611356 2012 1 0 1 1 C 2125000 4180000 80000 4100000 2013 1 0 1 1 A 0 0 0 0 0.02540 0.02540 0 0 1 B 0 0 0 0 0.00000 0.00000 0 0 1 C 0 0 0 0 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 1 0 0 0 1 A 1 B 1 C 1 Date Rebate Computation Performed Issuer Name: Delaware County Authority Date the Rebate Computation was Performed: 09/09/2016 Issuer Name: Delaware County Authority Date the Rebate Computation was Performed: 06/29/2017 Issuer Name: Delaware County Authority Date the Rebate Computation was Performed: 02/05/2018 Part II, Line 3, Column D The total proceeds of issue reported on Part II, Line 3 differs from Part I, column (e) due to the inclusion of investment earnings. E Merriman Family member Richardson T. Merriman, Board Member 23726 Compensation 0 X 6 68596 Selling price 0 0 1 0 Part I, Column (b): The number of contributions represent the number of contributions received, not the number of items donated. Form 990, Part VI, Section A, line 1 The Executive Committee is composed of officers of the Board; the Chairpersons of Standing Committees of the Board; the President of the University, and such other Board members, not to exceed two in number, as shall be appointed by the Chairperson of the Board. Subject to the provisions of the University's Charter and Bylaws, the Executive Committee exercises all powers of the Board of Trustees in the interim between meetings of the Board. Form 990, Part VI, Section B, line 11b The Form 990 is prepared by an independent CPA firm. Prior to filing the Form 990, the return is reviewed in detail by the VP for Finance & Operations, Controller, Treasurer (Chair of the Board Finance & Operations Committee), and the Chair of the Audit Committee. The Form 990 is distributed in electronic form to the entire Board of Trustees prior to filing. Form 990, Part VI, Section B, line 12c The conflict of interest policy is included in the employee handbook of the University, and it is monitored and enforced by departmental and/or divisional managers. Officers, trustees, and key employees are annually required to disclose interests that could give rise to conflicts. Should any potential conflicts of interest be disclosed, the trustee or officer would be asked to refrain from participation in any decision with regard to matters affected by the relationship. Form 990, Part VI, Section B, line 15 15a - The compensation for the President is established by the Executive Compensation Committee of the Board of Trustees. The Committee reviews market data as to compensation levels for comparable positions at similar organizations, and it maintains minutes of its meetings. The process was last completed during the 2015-16 tax year during which the Committee engaged a compensation consultant. 15b - The President determines compensation for all other officers using comparability data and the deliberation and decision are documented. Form 990, Part VI, Section C, line 19 The institution's governing documents, conflict of interest policy and financial statements are available upon request. Form 990, Part VII, Section A and Sch J, Part II Compensation reported in Part VII, column D and Schedule J, Part II, column B is the amount reported on the individual's W-2, box 1 or 5 (whichever amount is greater) per the IRS instructions. In the case of minister's compensation when box 5 of the W-2 is not applicable, box 1 compensation is used. Employee deferrals to qualified retirement plans are normally captured in box 5, not box 1 of Form W-2. For reporting purposes we have included the employee's retirement plan deferrals in Part VII, column F and Schedule J, Part II, column C. Form 990, Part XI, line 9: Loss on impairment of assets held for sale -750,000. Charitable Remainder Unitrust (2) Charitable Remainder Unitrust PA T 1 Charitable Remainder Unitrust (1) Charitable Remainder Unitrust CT T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0