2020-03-24T14:33:33-05:00 2019-06-30 271728945 PKF O'CONNOR DAVIES LLP 500 MAMARONECK AVENUE HARRISON NY 105281633 990 2018-07-01 221500484 CENTENARY UNIVERSITY CENT 9088521400 400 JEFFERSON STREET HACKETTSTOWN NJ 07840 DENTON L STARGEL VP BUSINESS & FINANCE/CFO 9088521400 2020-03-23 1 GARRETT M HIGGINS P00543209 9143818900 2020-03-23 47.18.225.252 2020-03-23 12:27:24 ED P 296073058FCED3F205F1B4BEA9A179C246384284 172B1EBA078A912F0272D4F7A0E6793D7CD9E54A 2018 2021-01-29 14:40:06Z BRUCE T MURPHY 400 JEFFERSON STREET HACKETTSTOWN NJ 07840 66628484 0 X WWW.CENTENARYUNIVERSITY.EDU X 1867 NJ CENTENARY UNIVERSITY IS AN INCLUSIVE AND COLLABORATIVE LEARNING COMMUNITY DEDICATED TO PREPARING ITS STUDENTS TO ENTER SOCIETY AS PROFESSIONAL AND GLOBAL CITIZENS. WE PROVIDE EXPERIENCES THAT FOSTER SKILLS OF CRITICAL THOUGHT AND PURPOSEFUL ACTION. THE CENTENARY EXPERIENCE IS DISTINGUISHED BY A FUNDAMENTAL BELIEF IN THE FULL POTENTIAL OF EACH STUDENT, A STRONG LIBERAL ARTS FOUNDATION, CAREER PREPARATION, AND A CULTURE OF SERVICE TO THE COMMUNITY AND TO THE WORLD. 22 22 975 37 398514 0 4438959 2241168 55012139 50955585 248252 47355 2389757 2022247 62089107 55266355 20353622 20197432 0 0 20535636 19834127 0 0 715492 19622574 18982031 60511832 59013590 1577275 -3747235 41153882 36912471 46361720 47128821 -5207838 -10216350 X CENTENARY UNIVERSITY IS AN INCLUSIVE AND COLLABORATIVE LEARNING COMMUNITY DEDICATED TO PREPARING ITS STUDENTS TO ENTER SOCIETY AS PROFESSIONAL AND GLOBAL CITIZENS. WE PROVIDE EXPERIENCES THAT FOSTER SKILLS OF CRITICAL THOUGHT AND PURPOSEFUL ACTION. THE CENTENARY EXPERIENCE IS DISTINGUISHED BY A FUNDAMENTAL BELIEF IN THE FULL POTENTIAL OF EACH STUDENT, A STRONG LIBERAL ARTS FOUNDATION, CAREER PREPARATION, AND A CULTURE OF SERVICE TO THE COMMUNITY AND TO THE WORLD. 0 0 36882188 20197432 43595762 INSTRUCTIONAL: CENTENARY UNIVERSITY IS A COMMUNITY OF LEARNERS DISTINGUISHED BY A DIVERSE STUDENT BODY, A DEDICATED FACULTY AND STAFF AND STIMULATING EDUCATION OPPORTUNITIES. THE UNIVERSITY IS COMMITTED TO QUALITY LIBERAL ARTS AND CAREER STUDIES EDUCATION TO ENGAGE STUDENTS IN LEARNING AND PREPARE THEM FOR A SATISFYING CAREER, SUCCESSFUL LIVES, COMMUNITY SERVICE AND LIFELONG INTELLECTUAL PURSUITS. AS THE PRIMARY EDUCATIONAL AND CULTURAL RESOURCE OF NORTHWEST NEW JERSEY, CENTENARY OFFERS A RANGE OF UNDERGRADUATE, GRADUATE AND DOCTORATE PROGRAMS, AS WELL AS NON-DEGREE COURSES FOR PROFESSIONAL AND PERSONAL DEVELOPMENT. 7090314 7359823 AUXILIARY SERVICES AT CENTENARY UNIVERSITY ARE ORGANIZED TO SUPPORT STUDENT ACTIVITIES AND PROVIDE STUDENT HOUSING AND OTHER FACILITIES AND SERVICE FOR THE BENEFIT OF THE CAMPUS OF CENTENARY UNIVERSITY. UNIVERSITY DORMITORIES CONSIST OF 8 RESIDENCE HALLS AND PROVIDE LVING QUARTERS FOR APPROXIMATELY 600 STUDENTS. AUXILIARY SERVICES ALSO PROVIDE RECREATIONAL FACILITES, DINING SERVICES, PARKING AND OTHER SELF-SUPPORTING FACULTY, STAFF AND STUDENT SERVICES. 43972502 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 1 1 0 1 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 147 0 975 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NJ NY FL MD X DENTON L STARGEL CFO 9088521400 400 JEFFERSON STREET HACKETTSTOWN NJ 07840 WOLFGANG GSTATTENBAUER CHAIRMAN 6.00 1.00 X X 0 0 0 KENNETH LEE HAHN 1ST VICE CHAIR 6.00 X X 0 0 0 NORMAN WORTH 2ND VICE CHAIR 6.00 X X 0 0 0 ROCHELLE MAKELA-GOODMAN 3RD VICE CHAIR 6.00 X X 0 0 0 DAVID JOHNSON TREASURER 3.00 1.00 X X 0 0 0 LUCINDA THOMAS EMBERSITS SECRETARY 6.00 X X 0 0 0 SUSAN BATEMAN ESQ TRUSTEE 3.00 X 0 0 0 AUDREY BONAPARTE-WATTS TRUSTEE 3.00 X 0 0 0 DENISE BLASEVICK TRUSTEE 3.00 X 0 0 0 DR HOWARD L BURRELL TRUSTEE 3.00 X 0 0 0 DR STANLEY CAINE TRUSTEE 3.00 X 0 0 0 MICHAEL T CATAPANO TRUSTEE 3.00 1.00 X 0 0 0 DAVID D DALLAS TRUSTEE 3.00 X 0 0 0 REV DR FRANK L FOWLER III TRUSTEE 3.00 X 0 0 0 MICHAEL B LAVERY ESQ TRUSTEE 3.00 X 0 0 0 MERRI MILLMAN TRUSTEE 3.00 X 0 0 0 RAY NISIVOCCIA TRUSTEE 3.00 X 0 0 0 BISHOP JOHN R SCHOL TRUSTEE 3.00 X 0 0 0 ALDEN SIEGEL TRUSTEE 3.00 X 0 0 0 LINDA VAN WINKLE WATKINS TRUSTEE 3.00 X 0 0 0 BRYAN WATKINSON ALUMNI TRUSTEE 3.00 X 0 0 0 DR EDWARD YAW TRUSTEE 3.00 X 0 0 0 STEVE SOMERS TRUSTEE - THRU 9/17/18 2.00 X 0 0 0 JIM SALERNO TRUSTEE - THRU 9/28/18 2.00 X 0 0 0 ELIZABETH FRIDAY-SKODA TRUSTEE - THRU 10/9/18 2.00 X 0 0 0 DR ROSALIND REICHARD TRUSTEE - THRU 11/2018 2.00 X 0 0 0 DAVID HANEY PRESIDENT THRU 11/30/2018 35.00 1.00 X 292009 0 44322 DENTON STARGEL VP BUSI&FIN/CFO 35.00 1.00 X 192181 0 18814 AMY D'OLIVO VP ACADEMIC AFF/CAO 35.00 X 132034 0 28785 BARBARA LEWTHWAITE PRES. EMERITUS/PROF OF BUS 35.00 X 149950 0 28972 TRACEY THOMPSON VP UNIVERSITY ADVANCEMENT 35.00 X 155530 0 43867 ROBERT MILLER VP ENROLLMENT MGMT 35.00 X 131819 0 22447 KERRY MULLINS-MONTANE VP FOR STUDENT LIFE/DEAN OF STUDENTS 35.00 X 124185 0 5324 1177708 0 192531 10 0 1 0 CHARTWELL DINING SERVICES PO BOX 417632 BOSTON MA 022417632 FOOD SERVICE 2999853 NATIONAL MANAGEMENT RESOURCES PO BOX 1224 LAGRANGE GA 30241 MAINTENANCE SERVICES 1544065 ELLUCIAN COMPANY LP 4375 FAIR LAKES CT FAIRFAX VA 22033 INFORMATION TECH SERVICES 1351938 R FAUCETT CONSTRUCTION INC 122 MAIN STREET FLEMINGTON NJ 08822 CONSTRUCTION SERVICES 562357 EGC GROUP 1175 WALT WHITMAN ROAD MELVILLE NY 11747 MARKETING SERVICES 493934 22 128160 68722 2044286 557387 2241168 TUITION 611600 43595762 43595762 ROOM AND BOARD 611600 6758454 6758454 AUXILIARY INCOME 611600 601369 601369 50955585 33528 33528 121131 34204 86927 86927 24131 62796 11309666 11295839 13827 13827 13827 24000 128160 32086 -8086 -8086 BAD DEBT RECOVERY 900099 1004652 1004652 OTHER REVENUE 900099 564371 564371 SUMMER YOUTH CAMP 611600 374383 374383 1943406 55266355 50955585 398514 1671088 20197432 20197432 679068 679068 15632822 10627600 4470115 535107 319841 219034 85895 14912 1614229 687508 898463 28258 1588167 782014 748029 58124 160187 160187 123276 123276 10237 10237 1798725 1288257 497950 12518 1078081 233983 844098 1064408 449760 577806 36842 1722651 288516 1407466 26669 31660 31660 5607511 4275000 1332511 481253 177861 300690 2702 32211 20091 12120 236192 236192 1775690 1349524 426166 176665 19800 156865 FOOD SERVICE 2305587 2305587 EQUINE CENTER EXPENSE 684687 684560 127 BAD DEBT 524047 524047 MISCELLANEOUS EXPENSES 355949 197993 157956 813014 136322 676332 360 59013590 43972502 14325596 715492 1016010 876382 1526254 1557470 1435861 1371456 1832698 1660944 1020239 963016 7568 18910 166548 629439 29193952 11579095 18115399 17614857 14709971 11458067 1323334 761930 41153882 36912471 3458773 4098097 872277 2113041 788437 168250 253576 137129 269333 4250000 4534018 3532942 36185306 32829362 46361720 47128821 X -13841445 -17514977 3763665 1504361 4869942 5794266 -5207838 -10216350 41153882 36912471 X -3747235 412996 -1337168 -337105 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 13852131 428626 352911 730438 4564670 9338560 12242600 611997 1400190 402656 13852131 10727935 526577 1516140 528052 12242600 10603214 723925 -192385 406819 10727935 10352059 219248 266750 234843 10603214 0.27670 0.63000 0.09330 0 0 248900 248900 8985885 1927219 7058666 530049 150537 379512 7957553 6073123 1884430 11471565 3428216 8043349 17614857 REFUNDABLE LOAN PROGRAMS 1121067 CHARITABLE GIFT ANNUITY LIAB. 375568 DUE TO RELATED ORGANIZATION 31332727 32829362 X 35200867 412996 412996 34787871 10237 20468247 20478484 55266355 41160130 2354209 2354209 38805921 10237 20197432 20207669 59013590 PART IV, LINE 2B: AN AGENCY ACCOUNT IS USED TO ACCOUNT FOR RESOURCES HELD BY THE UNIVERSITY, AS CUSTODIAN OR FISCAL AGENT, FOR A STUDENT, FACULTY OR STAFF ORGANIZATION. THE MOST COMMON TYPE OF AGENCY ACCOUNT IS A DEPOSITORY ACCOUNT WHERE A STUDENT WILL LEAVE ON DEPOSIT OF A CERTAIN SUM OF MONEY THAT WILL BE RETURNED IF THERE IS NO DAMAGE TO HIS OR HER ROOM. IN ADDITION ANOTHER COMMON TYPE OF ACCOUNT IS A CLUB ACCOUNT. DEPOSITS WOULD COME FROM DUES OR PROCEEDS FROM SALES OR EVENTS. EXPENDITURES WOULD BE AUTHORIZED CLUB/ORGANIZATION EXPENSES. PART V, LINE 4: THE UNIVERSITY'S ENDOWMENT FUNDS ARE COMPRISED OF BOARD RESTRICTED AND DONOR RESTRICTED FUNDS AND ARE HELD TO SUPPORT THE EDUCATIONAL AND OPERATING PROGRAMS OF THE UNIVERSITY. THE BOARD RESTRICTED FUNDS ARE INTENDED TO BE USED TO ASSIST THE UNIVERSITY IN FUNDING NECESSARY FOR FUTURE COSTS. THE UNIVERSITY INTENDS TO LEAVE THE PRINCIPAL UNTOUCHED FOR DONOR RESTRICTED FUNDS AND WILL NOT USE THESE FUNDS FOR ANY PURPOSE THAT IS NOT CONSISTENT WITH THE UNIVERSITY'S EXEMPT STATUS. EARNINGS FROM BOTH FUNDS ARE USED TO DEFRAY INSTRUCTIONAL, ACADEMIC SUPPORT, STUDENT AID AND OTHER INSTITUTIONAL EXPENSES THAT MAY ARISE. PART X, LINE 2: CENTENARY UNIVERSITY AND THE FOUNDATION ACCOUNT FOR UNCERTAINTIES IN INCOME TAXES IN ACCORDANCE WITH AUTHORITATIVE GUIDANCE, WHICH 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. MANAGEMENT DETERMINED THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD AT JUNE 30, 2019 AND 2018. THE UNIVERSITY IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO 2016. CENTENARY UNIVERSITY AND THE FOUNDATION'S POLICY IS TO RECOGNIZE INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED ON PART VIII, LINE 6B -34,204. FUNDRAISING EXPENSES REPORTED ON PART VIII, LINE 8B -32,086. FINANCIAL AID NETTED AGAINST TUITION 20,197,432. LOSS ON DISPOSAL OF HORSES 277,367. CHANGE IN VALUE OF IRREVOCABLE TRUST 59,738. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES REPORTED ON PART VIII, LINE 8B 32,086. EXPENSES ATTRIBUTABLE TO CENTENARY EQUESTRIAN FOUNDATION 2,287,919. RENTAL EXPENSES REPORTED ON PART VIII, LINE 6B 34,204. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED AGAINST TUITION 20,197,432. 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 SCHOOL PUBLICIZES ITS RACIALLY NONDISCRIMINATORY STATEMENT ON ITS WEBSITE, IN ALL HANDBOOKS AND LITERATURE DISTRIBUTED. SCHEDULE E, PART I, LINE 6 CENTENARY UNIVERSITY RECEIVES FINANCIAL AID SUCH AS PELL, SEOG, DIRECT LENDING AND PARTICIPATES IN THE PERKINS LOAN PROGRAM. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAM 162977 0 0 0 0 0 0 162977 0 162977 0 0 0 0 0 0 GALA 152160 128160 24000 19672 12414 152160 128160 24000 19672 12414 32086 -8086 1 FINANCIAL AID 2204 20197432 0 PART I, LINE 2: THE INSTITUTION MONITORS, PROCESSES, RECONCILES, AND ADMINISTERS ITS AID PROGRAMS THROUGH A SHARED APPROACH. PROGRAM ADMINISTRATION IS THE MAIN RESPONSIBILITY OF THE UNIVERSITY'S FINANCIAL AID OFFICE; THE UNIVERSITY'S CONTROLLER'S OFFICE HANDLES THE FISCAL DUTIES, WHICH INCLUDE REQUESTING CASH DRAWS FROM G-5, TRACKING FEDERAL AUTHORIZATION, DETERMINING MATCHING REQUIREMENTS, AND PROGRAM RECONCILIATIONS. THE STUDENT BILLING OFFICE APPLIES PAYMENTS TO STUDENTS' ACCOUNTS. THIS SHARED APPROACH ALLOWS FOR SEGREGATION OF DUTIES BETWEEN THE DETERMINATION OF AWARDS AND PROCESSING PAYMENTS AND ALLOWS THE UNIVERSITY TO VERIFY THAT THE FUNDS ARE BEING USED FOR THEIR INTENDED PURPOSE. X X 1 0 X X X X 0 0 0 0 0 0 0 1 0 DAVID HANEY PRESIDENT THRU 11/30/2018 256259 0 27500 0 8250 0 0 0 44322 0 336331 0 0 0 DENTON STARGEL VP BUSI&FIN/CFO 192181 0 0 0 0 0 9405 0 9409 0 210995 0 0 0 AMY D'OLIVO VP ACADEMIC AFF/CAO 132034 0 0 0 0 0 6650 0 22135 0 160819 0 0 0 BARBARA LEWTHWAITE PRES. EMERITUS/PROF OF BUS 149950 0 0 0 0 0 24500 0 4472 0 178922 0 0 0 TRACEY THOMPSON VP UNIVERSITY ADVANCEMENT 155530 0 0 0 0 0 18500 0 25367 0 199397 0 0 0 ROBERT MILLER VP ENROLLMENT MGMT 131819 0 0 0 0 0 8325 0 14122 0 154266 0 0 0 PART I, LINE 1A THE PRESIDENT IS PROVIDED USE OF A HOUSE OWNED BY THE UNIVERSITY. THE RELATED SERVICES SUCH AS FACILITIES, MAINTENANCE, AND HOUSEKEEPING ARE PROVIDED BY THE UNIVERSITY. THE HOUSING AND HOUSEKEEPING SERVICES ARE TREATED AS NONTAXABLE BENEFITS AND REPORTED ON SCHEDULE J, PART II, COLUMN D. PART I, LINE 7 THE FOLLOWING EMPLOYEEE RECEIVED A BOARD DISCRETIONARY BONUS IN THEIR 2018 W-2 FROM THE ORGANIZATION: DAVID HANEY - $27,500. X 4 23633 CLOSE OF BUSINESS VALUE X HORSES 8 533504 APPRAISALS X GIFT CARD 1 250 COST 8 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE AMOUNT OF CONTRIBUTORS IN SCHEDULE M, PART 1, COLUMN B. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED INTERNALLY AND THEN PRESENTED TO THE AUDIT COMMITTEE AND THE BOARD FOR APPROVAL. THE FULL BOARD ELECTRONICALLY RECEIVES THE FORM 990 TO REVIEW PRIOR TO THE FORM 990'S SUBMISSION TO THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C EACH OFFICER, DIRECTOR, TRUSTEE AND KEY EMPLOYEE IS REQUIRED UPON HIRE, AND ANNUALLY, TO COMPLETE A "CONFLICT OF INTEREST QUESTIONNAIRE". IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE TRUSTEES AND MEMBER OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE GOVERNING BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTES. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FUTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE GOVERNING BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15 THE UNIVERSITY FOLLOWS A PROCESS TO ENSURE THAT EXECUTIVE AND TOP MANAGEMENT COMPENSATION IS REASONABLE. COMPENSATION IS COMPARED TO INDUSTRY STANDARDS, BY POSITION AND FISCAL AND MANAGERIAL RESPONSIBILITIES. THE PROPOSED COMPENSATION IS PRESENTED TO THE BOARD OF TRUSTEES' COMPENSATION COMMITTEE FOR APPROVAL AND RECOMMENDATION TO THE BOARD OF TRUSTEES FOR FINAL APPROVAL. MEMBERS OF THE BOARD'S COMPENSATION COMMITTEE ARE INDEPENDENT PERSONS WHO HAVE NO PERSONAL INTEREST IN THE PROPOSED COMPENSATION ARRANGEMENT. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990, AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC REVIEW, UPON REQUEST SUBMITTED THROUGH THE FINANCE DEPARTMENT, ATTN: DENTON L. STARGEL, CFO, 400 JEFFERSON STREET, HACKETTSTOWN, NJ 07840. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF IRREVOCABLE TRUST -59,738. LOSS ON DISPOSAL OF HORSES -277,367. FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE IS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEARS. CENTENARY EQUESTRIAN FOUNDATION 400 JEFFERSON STREET HACKETTSTOWN NJ 07840 475219553 RENTAL PROPERTY NJ 501(C)(3) LINE 12A, I CENTENARY UNIVERSITY 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 CENTENARY EQUESTRIAN FOUNDATION K 1510805 ACTUAL CENTENARY EQUESTRIAN FOUNDATION R 3183693 ACTUAL