2020-04-14T15:16:03-05:00 2019-05-31 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 1570 FRUITVILLE PIKE SUITE 400 LANCASTER PA 17601 990 2018-06-01 240795495 UNIVERSITY OF SCRANTON UNIV 5709417411 800 LINDEN STREET SCRANTON PA 18510 EDWARD J STEINMETZ CPA SENIOR VP FINANCE & TREASURER 5709417411 2020-03-26 1 KERRI N BOGDA CPA P00760402 7177404863 23.130.16.102 2020-03-26 16:44:19 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 AE0C272A69DD34E2EDF3B6A185DE1CF90EACE8A4 2018 2020-09-23 17:36:50Z REV SCOTT R PILARZ 800 LINDEN STREET SCRANTON PA 18510 405831386 0 X WWW.SCRANTON.EDU X 1888 PA THE UNIVERSITY OF SCRANTON IS A CATHOLIC AND JESUIT UNIVERSITY DEDICATED TO EDUCATION. 28 27 2965 550 1533036 0 10320321 16405619 219513136 222093380 6101841 9185954 3024807 3413264 238960105 251098217 70270864 73935254 0 0 102741299 103835990 20000 20000 3487162 61490117 58998280 234522280 236789524 4437825 14308693 602060593 601478100 207555650 195914866 394504943 405563234 X THE UNIVERSITY OF SCRANTON IS A CATHOLIC AND JESUIT UNIVERSITY. IT IS A COMMUNITY DEDICATED TO THE FREEDOM OF INQUIRY AND PERSONAL DEVELOPMENT FUNDAMENTAL TO GROWTH IN WISDOM AND INTEGRITY OF ALL WHO SHARE ITS LIFE. CONTINUED ON SCHEDULE "O".IT OFFERS DEGREE PROGRAMS AT THE UNDERGRADUATE, GRADUATE, PRE-PROFESSIONAL, AND PROFESSIONAL LEVELS. 0 0 137755781 73935254 184440702 HIGHER EDUCATION, STUDENT FINANCIAL AID - TOTAL INSTITUTIONAL FINANCIAL AID AWARDS PROCESSED AND DISBURSED BY THE FINANCIAL AID OFFICE AMOUNTED TO $73,735,254 TO RECIPIENTS. ADDITIONALLY, THE FINANCIAL AID OFFICE PROCESSED $58,697,905 OF FINANCIAL AID IN THE FORM OF LOANS TO STUDENTS. DURING THE 2018-2019 ACADEMIC YEAR 3,607 UNDUPLICATED RECIPIENTS RECEIVED SOME FORM OF FINANCIAL AID. LOANS PROVIDED TO STUDENTS AND THEIR PARENTS INCLUDE FEDERAL STAFFORD, PLUS, AND ALTERNATIVE LOANS.CONTINUED ON SCHEDULE O.HIGHER EDUCATION, INSTRUCTION - PROVIDES UNDERGRADUATE AND GRADUATE INSTRUCTION TO 3,728 UNDERGRADUATE AND 1,593 GRADUATE STUDENTS. THERE ARE 65 UNDERGRADUATE MAJOR PROGRAMS, 29 GRADUATE (MASTERS) LEVEL PROGRAMS, TWO DOCTORAL PROGRAMS, AND OVER 100 CONTINUING AND PROFESSIONAL EDUCATION PROGRAMS TAUGHT AT THE UNIVERSITY. 33036131 0 37652678 HIGHER EDUCATION, AUXILIARY SERVICES - PROVIDES DORMITORY AND FOOD SERVICES TO APPROXIMATELY 2,694 RESIDENT STUDENTS AND FOOD SERVICES TO COMMUTER STUDENTS, FACULTY, STAFF AND ADMINISTRATION. 20856530 0 0 HIGHER EDUCATION, STUDENT SERVICES AND ACTIVITIES - EXPENDITURES OR ACTIVITIES WHOSE PURPOSE IS TO CONTRIBUTE TO STUDENTS' EMOTIONAL AND PHYSICAL WELL-BEING AND DEVELOPMENT OUTSIDE THE CLASSROOM. 16495921 0 1616144 HIGHER EDUCATION, ACADEMIC SUPPORT - INCLUDES EXPENSES APPLICABLE TO AN INTEGRAL PART OF THE UNIVERSITY'S PRIMARY MISSION OF INSTRUCTION, RESEARCH, OR PUBLIC SERVICE THAT ARE NOT CHARGED DIRECTLY TO THESE PROGRAMS. HIGHER EDUCATION, LIBRARY EXPENSES - INCURRED IN OPERATING AN 80,000 SQ. FT. UNIVERSITY LIBRARY. THE LIBRARY CONTAINS OVER 633,035 VOLUMES, 203,507 FULL-TEXT ONLINE BOOKS, AND A MEDIA COLLECTION HOLDING 22,544 NON-PRINT ITEMS AND 9,085 STREAMING MEDIA PROGRAMS FOR STUDENT AND GENERAL PUBLIC STUDY AND RESEARCH. HIGHER EDUCATION, PUBLIC SERVICE - FUNDS EXPENDED FOR ACTIVITIES ESTABLISHED PRIMARILY TO PROVIDE NON-INSTITUTIONAL SERVICES BENEFICIAL TO INDIVIDUALS AND GROUPS EXTERNAL TO THE UNIVERSITY. THESE EXPENSES DO NOT INCLUDE OVER 175,000 COMMUNITY SERVICE HOURS PROVIDED BY UNIVERSITY STUDENTS. HIGHER EDUCATION, RESEARCH - INCLUDES THE COST ASSOCIATED WITH GRANTS/AWARDS TO PRODUCE RESEARCH EITHER FUNDED INTERNALLY OR COMMISSIONED BY AN AGENCY EXTERNAL TO THE UNIVERSITY. 16495921 0 1616144 208144363 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 1 1 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 1 7621 1 1 2965 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 28 27 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 0 PA AK CO MA NH WA X X ADRIAN J MIHALKO CPA 5709414897 800 LINDEN STREET SCRANTON PA 18510 JOSEPH M VASZILY BOARD CHAIRMAN 1.00 X X 0 0 0 JAMES M SLATTERY BOARD CO-VICE CHAIR 1.00 X X 0 0 0 JUDITH M BAVARIA BOARD CO-VICE CHAIR 1.00 X X 0 0 0 SCOTT R PILARZ SJ PRESIDENT (AS OF 7/1/18) 1.00 X X 3167 0 18786 RICHARD V BAKER TRUSTEE 1.00 X 0 0 0 TRACY F BANNON TRUSTEE 1.00 X 0 0 0 LINDA D BARRASSE MD TRUSTEE 1.00 X 0 0 0 DAVID C BLAKE PHD JD TRUSTEE 1.00 X 0 0 0 PATRICIA A BYRNES CLARKE TRUSTEE 1.00 X 0 0 0 JACQUELYN DIONNE RN TRUSTEE 1.00 X 0 0 0 ANNE DRUCKER TRUSTEE 1.00 X 0 0 0 FRANK J DUBAS JR CPA TRUSTEE 1.00 X 0 0 0 MATTHEW E HAGGERTY ESQ TRUSTEE 1.00 X 0 0 0 MARY R HAVERON CPA TRUSTEE 1.00 X 0 0 0 PHILIP G JUDGE SJ TRUSTEE 1.00 X 0 0 0 TIMOTHY J KACANI TRUSTEE 1.00 X 0 0 0 CHRISTOPHER J KANE TRUSTEE 1.00 X 0 0 0 WILLIAM J KELLEY SJ TRUSTEE 1.00 X 0 0 0 DANIEL K LAHART SJ TRUSTEE 1.00 X 0 0 0 KEITH F MUCCINO SJ MD TRUSTEE 1.00 X 0 0 0 KEVIN J O'BRIEN ESQ TRUSTEE 1.00 X 0 0 0 LIZ MURPHY TRUSTEE 1.00 X 0 0 0 MARYLA SCRANTON TRUSTEE 1.00 X 0 0 0 VINCENT F REILLY ESQ TRUSTEE 1.00 X 0 0 0 PATRICK W SHEA ESQ TRUSTEE 1.00 X 0 0 0 ANTHONY G SIMONE TRUSTEE 1.00 X 0 0 0 ROBERT S WEISS TRUSTEE 1.00 X 0 0 0 YOHURU R WILLIAMS PHD TRUSTEE 1.00 X 0 0 0 HERBERT B KELLER SJ INTERIM PRESIDENT 45.00 X 0 0 293 EDWARD J STEINMETZ CPA SVP FINANCE/TREASURER 45.00 X 378190 0 44987 ROBERT B FARRELL ESQ GENERAL COUNSEL 45.00 X 220714 0 68631 THOMAS S MACKINNON VP UNIVERSITY ADVANCEMENT 45.00 X 173655 0 24666 JOSEPH H DREISBACH PHD INTERIM PROVOST/SVP ACADEMIC AFFAIRS 45.00 X 283440 0 59100 JEFFREY P GINGERICH PHD PROVOST, SR. VP FOR ACADEMIC AFFAIRS 45.00 X 193584 0 74745 ROBERT W DAVIS JR EDD VP OF STUDENT LIFE 45.00 X 178409 0 44998 PATRICIA L TETREAULT VP HUMAN RESOURCES 45.00 X 171016 0 46822 GERALD C ZABOSKI VICE PROVOST, EXTERNAL AFFAIRS 45.00 X 216168 0 111602 ANITRA M MCSHEA VICE PROVOST, STUDENT AFFAIRS 45.00 X 211036 0 47928 PATRICIA HARRINGTON INTERIM ASSOC. PROVOST, INST. EFFECTIVENESS 45.00 X 155658 0 21256 BRIAN P CONNIFF PHD DEAN, CAS 45.00 X 182256 0 44095 MICHAEL O MENSAH PHD DEAN, KSOM 45.00 X 285048 0 87596 DEBRA A PELLEGRINO EDD DEAN, PCPS 45.00 X 205346 0 24496 MURLI RAJAN PHD CFA INTERIM DEAN, KSOM 45.00 X 191445 0 52329 DOUGLAS M BOYLE DBA CPA CMA ASSOCIATE PROFESSOR 40.00 X 376620 0 72343 JAMES F BOYLE DBA CPA ASSISTANT PROFESSOR 40.00 X 298339 0 104483 NABIL A TAMIMI PHD PROFESSOR 40.00 X 236276 0 29390 DAVID F SALERNO CPA PHD INTRM. ASSOC. DEAN, KSOM, ASSOC. PROFESSOR 40.00 X 245245 0 41367 STEVEN J SZYDLOWSKI DHA PROFESSOR 40.00 X 240631 0 18323 ROBYN L DICKINSON DIR INST RESEARCH, FORMER OFFICER 45.00 X 121571 0 36575 HAROLD W BAILLIE PHD PROFESSOR, FORMER OFFICER 45.00 X 129605 0 23827 WILLIAM J WELSH PHD PROFESSOR, FORMER KEY EMPLOYEE 45.00 X 107306 0 20653 4804725 0 1119291 222 1 1 0 ARAMARK C/O UNIVERSITY OF SCRANTON SCRANTON PA 18510 FOOD SERVICE PROVIDER 11212385 THE QUANDEL GROUP INC 4755 LINGLESTOWN ROAD HARRISBURG PA 17112 CONSTRUCTION CONTRACTOR 5185223 HIGH INDUSTRIES INC PO BOX 10726 LANCASTER PA 176050726 CONSTRUCTION CONTRACTOR 478910 DEGLER-WHITING INC 531 WEST LANCASTER AVENUE FRAZER PA 193551871 CONSTRUCTION CONTRACTOR 421900 ELLUCIAN COMPANY LP 4 COUNTRY VIEW ROAD MALVERN PA 19355 IT MAINTENANCE AND SUPPORT 403064 20 904628 2132678 13368313 288371 16405619 TUITION AND FEES 611310 184440702 184440702 AUXILIARY ENTERPRISES 721310 37652678 37652678 222093380 5654756 -23575 5678331 192532 139521 53011 53011 53011 157725904 29500 154093693 130513 3632211 -101013 3531198 3531198 174179 904628 369442 -195263 -195263 EARLY LEARNING CENTER 624410 1463487 1080726 382761 EDUCATIONAL SUPPORT SERVICES 611710 1371850 1371850 CONFERENCES AND SUMMER CAMPS 721214 475885 475885 244294 244294 3555516 251098217 223709524 1533036 9450038 200000 200000 73735254 73735254 3959037 2255278 1434173 269586 70875987 61406066 8049984 1419937 5444726 4511381 794042 139303 18782445 14278536 4222990 280919 4773795 4024934 630400 118461 192509 192509 359846 359846 101309 101309 20000 20000 1058938 1058938 1955893 1056845 842007 57041 864492 200216 657261 7015 2932408 2393889 432204 106315 2132546 1155438 950391 26717 3759513 3606561 136952 16000 1187859 1074793 71449 41617 1987596 1683801 264434 39361 6172505 6142713 29792 13802744 12211988 1539464 51292 905810 699088 195270 11452 DIRECT FOOD COSTS 8679637 8679637 REPAIRS AND MAINTENANCE 4428740 2780469 1615069 33202 OTHER FOOD SERVICE EXP. 2766838 1781140 428234 557464 BOOKS AND PUBLICATIONS 2410390 2305644 104746 3298707 1960692 1252590 85425 236789524 208144363 25157999 3487162 17871390 16778128 4615251 4940091 6069288 6929059 77228 157416 2991502 2467514 4004517 4490042 488818874 201779781 295336479 287039093 170811570 178875625 100283368 99801132 602060593 601478100 30684812 24156083 692730 673735 11979850 11726395 152075000 147835000 12123258 11523653 207555650 195914866 X 254792091 262443807 67825216 62305202 71887636 80814225 394504943 405563234 602060593 601478100 X 14308693 -4284837 1034435 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 4948 0 1 96361 101309 0 PART II-B, LINE 1: LINE 1B - OUR ADMINISTRATIVE STAFF IN EXTERNAL AFFAIRS SPENDS A SMALL PART OF THEIR TIME MEETING WITH OUR EXTERNAL CONSULTING FIRM TO DISCUSS OUR LEGISLATIVE INTERESTS. LINE 1G - THE UNIVERSITY PAID FOR TRAVEL-RELATED EXPENSES FOR EMPLOYEES TASKED WITH MEETING LEGISLATORS TO IDENTIFY POTENTIAL GRANT OPPORTUNITIES. LINE I - THE UNIVERSITY CONTRACTED WITH A CONSULTING FIRM TO REPRESENT ITS INTERESTS IN LEGISLATIVE AND OTHER GOVERNMENTAL MATTERS AT BOTH THE STATE AND FEDERAL LEVELS. 25000 300425 X X X X USED REGULARLY FOR TEACHING 0 198909079 12960401 2373612 4277294 3374059 1058938 205532801 182731251 8559152 15992476 4243866 3100191 1029743 198909079 162728402 5242579 22687425 4299601 2775506 852048 182731251 167924894 6519013 -5504792 2984984 2502767 722962 162728402 159282129 6712124 8172762 3074533 2376070 791518 167924894 0.35070 0.38510 0.26420 1 0 21752649 21752649 385423320 149762616 235660704 47556419 38221629 9334790 34086486 13795536 20290950 287039093 SILCHESTER INTERNATIONAL INVESTORS 13082481 F ABS OFFSHORE SPC CLASS B 9684345 F GROSVENOR CAPITAL MANAGEMENT 15395510 F MFS INTERNATIONAL GROWTH, LLC 12268224 F IR&M CORE BOND FUND, LLC 18864033 F MERCER PIP IV LP 2719094 F ABBOTT CAPITAL PRIVATE EQUITY FUND VII, L.P. 3024983 F PARK STREET CAPITAL PRIVATE EQUITY FUND XI, L.P 1868995 F MERCER HEDGE FUND INVESTORS SP-I 11307496 F APOLLO TOTAL RETURN FUND 8147173 F HARBOURVEST 2017 GLOBAL FUND, L.P. 2925594 F MERCER PIP V LP 513204 F 99801132 SPLIT INTEREST AGREEMENTS 1769340 PREMIUMS ON UNIVERSITY BONDS 9615645 CAPITAL LEASE OBLIGATIONS 138668 11523653 X 174122887 -4284837 -72791506 -77076343 251199230 -101013 -101013 251098217 163064596 101013 101013 162963583 73825941 73825941 236789524 PART III, LINE 4: THE SPECIAL COLLECTIONS DEPARTMENT OF THE WEINBERG MEMORIAL LIBRARY PROVIDES EXHIBITS, PROGRAMMING, AND INSTRUCTION THAT REACH OUT TO BOTH THE UNIVERSITY COMMUNITY AND THE GENERAL PUBLIC. SPECIAL COLLECTIONS CONTAIN HISTORICAL COLLECTIONS AND A RARE BOOK COLLECTION THAT RANGES FROM MEDIEVAL MANUSCRIPTS AND EARLY PRINTED BOOKS THROUGH 20TH CENTURY FIRST EDITION AND FINE PRESS WORK. MUCH OF THE COLLECTION WAS DONATED OR ACQUIRED OVER MANY DECADES. INCLUDED IN THE COLLECTION IS A COMPONENT FOCUSING ON RARE BOOKS PRODUCED BY THE JESUIT COMMUNITY. PART V, LINE 4: THE UNIVERSITY'S ENDOWMENT IS USED TO PROVIDE SCHOLARSHIPS TO STUDENTS AND TO OFFSET FACULTY SALARIES AND OTHER OPERATING EXPENSES. PART X, LINE 2: TAX POSITIONS ARE RECOGNIZED OR REVERSED BY THE UNIVERSITY BASED ON A "MORE LIKELY THAN NOT" THRESHOLD. THIS APPLIES TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE UNIVERSITY DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES DEDUCTED FROM GROSS RENT REVENUE 139,521. FUNDRAISING DIRECT EXPENSES DEDUCTED FROM GROSS FUNDRAISING INCOME 369,442. RECLASSIFICATION OF BOND PREMIUM AMORTIZATION AS A CONTRA-EXPENSE 459,288. TUITION AND FEE REVENUE OFFSET BY INSTITUTIONALLY FUNDED STUDENT AID -73,735,254. CHANGE IN VALUE OF SPLIT INTEREST LIABILITY 1,034,435. INVESTMENT MANAGEMENT FEES -1,058,938. PART XI, LINE 4B - OTHER ADJUSTMENTS: DISPOSAL OF FIXED ASSETS NETTED AGAINST EXPENSES -101,013. PART XII, LINE 2D - OTHER ADJUSTMENTS: DISPOSAL OF FIXED ASSETS NETTED AGAINST EXPENSES 101,013. PART XII, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES DEDUCTED FROM GROSS RENT REVENUE -139,521. FUNDRAISING DIRECT EXPENSES DEDUCTED FROM GROSS FUNDRAISING INCOME -369,442. RECLASSIFICATION OF BOND PREMIUM AMORTIZATION AS A CONTRA-EXPENSE -459,288. INSTITUTIONALLY FUNDED STUDENT FINANCIAL AID 73,735,254. INVESTMENT MANAGEMENT FEES 1,058,938. 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 UNIVERSITY'S NOTICE OF NON-DISCRIMINATION IS WIDELY POSTED ON UNIVERSITY WEB PAGES, AT VARIOUS LOCATIONS ON CAMPUS, AND CONTAINED IN ELECTRONIC AND PRINTED PUBLICATIONS FOR GENERAL DISTRIBUTION, APPLICABLE BULLETINS, ANNOUNCEMENTS, PUBLICATIONS, CATALOGS, APPLICATION FORMS, AND RECRUITMENT MATERIALS. THE UNIVERSITY IS GOVERNED BY AN INDEPENDENT BOARD OF TRUSTEES AND WELCOMES PERSONS OF ALL RACES AND RELIGIOUS PERSUASIONS AS MEMBERS OF ITS STUDENT BODY, FACULTY, STAFF, AND ADMINISTRATION. CONTINUED BELOW. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES OPERATING FUNDS DESIGNATED BY BOTH FEDERAL AND STATE GOVERNMENT FUNDING AGENCIES FOR SPECIFIC OPERATING PURPOSES. THE UNIVERSITY ALSO RECEIVES FINANCIAL AID FUNDS FOR ITS STUDENTS FROM BOTH FEDERAL AND STATE FUNDING AGENCIES AND ACTS AS THE CUSTODIAN AND DISBURSING AGENT FOR THESE FUNDS. LINE 3 CONTINUATION: THE UNIVERSITY IS COMMITTED TO PROVIDING A SAFE AND NONDISCRIMINATORY EMPLOYMENT AND EDUCATIONAL ENVIRONMENT. THE UNIVERSITY DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, NATIONAL ORIGIN, SEX, DISABILITY, RELIGION, AGE, VETERAN STATUS, GENDER IDENTITY OR EXPRESSION, SEXUAL ORIENTATION, OR OTHER STATUS PROTECTED BY LAW. SEXUAL HARASSMENT, INCLUDING SEXUAL VIOLENCE, IS A FORM OF SEX DISCRIMINATION PROHIBITED BY TITLE IX OF THE EDUCATION AMENDMENTS OF 1972. THE UNIVERSITY DOES NOT DISCRIMINATE ON THE BASIS OF SEX IN ITS EDUCATIONAL, EXTRACURRICULAR, ATHLETIC, OR OTHER PROGRAMS OR IN THE CONTEXT OF EMPLOYMENT. THE UNIVERSITY VALUES THE BENEFITS OF DIVERSITY. IT IS COMMITTED TO CREATING A COMMUNITY WHICH RECOGNIZES THE INHERENT VALUE AND DIGNITY OF EACH PERSON. AS SUCH, THE UNIVERSITY PROMOTES AN AWARENESS OF AND SENSITIVITY TOWARDS DIFFERENCES OF RACE, GENDER, ETHNICITY, NATIONAL ORIGIN, CULTURE, SEXUAL ORIENTATION, RELIGION, AGE, AND DISABILITIES AMONG STUDENTS, FACULTY, STAFF, AND ADMINISTRATORS. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 9684345 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PROGRAM SERVICES STUDENT SERVICE LEARNING TRIP EXPENSES; STUDENT TRAVEL COURSE 193182 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 1 PROGRAM SERVICES STUDENT STUDY ABROAD TUITION, FEES, ROOM & BOARD; STUDENT RECRUITMENT EXPENSES 175637 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES STUDENT STUDY ABROAD TUITION, FEES, ROOM & BOARD;STUDENT TRAVEL COURSES; SPORTS TEAM TRAVEL EXPENSES 332948 MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 0 0 PROGRAM SERVICES STUDENT RECRUITMENT EXPENSES; STUDENT TRAVEL COURSE 36604 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 PROGRAM SERVICES STUDENT RECRUITMENT EXPENSES; STUDENT SERVICE LEARNING TRIP 17257 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 PROGRAM SERVICES STUDENT TRAVEL COURSES 33750 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 0 1 PROGRAM SERVICES STUDENT RECRUITMENT EXPENSES 16377 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 PROGRAM SERVICES STUDENT TRAVEL COURSES 27750 0 2 0 0 0 2 10490100 27750 10517850 1 0 1 1 0 0 SCHEDULE F PART IV THE UNIVERSITY DID NOT MEET THE THRESHOLD FILING REQUIREMENTS FOR FORMS 5471 AND 8621. X X X X X X X 0 ROBERTS EVENT GROUP 491 YORK RD JENKINTOWN PA 19046 EVENT MANAGEMENT 0 889024 20000 869024 889024 20000 869024 AK CO MA NH PA WA DINNER 889024 810665 78359 170715 2000 99441 GOLF TOURNEY 189783 93963 95820 6223 85610 5453 1078807 904628 174179 6223 256325 2000 104894 369442 -195263 1 CITY OF SCRANTON CITY HALL 340 NORTH WASHINGTON AVE SCRANTON PA 18503 246000704 115 200000 GENERAL SUPPORT 1 0 UNIVERSITY FUNDED GRANTS/ASSISTANCE 3607 73735254 0 N/A N/A PART I, LINE 2: ALL UNIVERSITY STUDENTS ARE CONSIDERED FOR GRANTS AND/OR ASSISTANCE. THE UNIVERSITY'S FINANCIAL AID OFFICE EVALUATES EACH STUDENT'S FINANCIAL NEED BASED UPON INFORMATION PROVIDED ON THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA). FINANCIAL AID OFFICE MANAGEMENT AWARDS MERIT SCHOLARSHIPS TO STUDENTS WHO QUALIFY BASED UPON DONOR STIPULATIONS AND AWARD FEDERAL, STATE, AND PRIVATE NEED-BASED AWARDS BASED ON FEDERAL OR OTHER GUIDELINES. STUDENTS RECEIVING AWARDS PROVIDE INFORMATION AND PARTICIPATE IN INTERVIEWS TO ENSURE THAT GUIDELINES AND RESIDENCY RULES AND REGULATIONS ARE MET. X X X X X 1 1 X X X X 1 0 0 0 0 0 0 0 0 EDWARD J STEINMETZ CPA SVP FINANCE/TREASURER 378190 0 0 0 0 0 27500 0 17487 0 423177 0 0 0 ROBERT B FARRELL ESQ GENERAL COUNSEL 220714 0 0 0 0 0 21298 0 47333 0 289345 0 0 0 THOMAS S MACKINNON VP UNIVERSITY ADVANCEMENT 173655 0 0 0 0 0 17043 0 7623 0 198321 0 0 0 JOSEPH H DREISBACH PHD INTERIM PROVOST/SVP ACADEMIC AFFAIRS 283440 0 0 0 0 0 28981 0 30119 0 342540 0 0 0 JEFFREY P GINGERICH PHD PROVOST, SR. VP FOR ACADEMIC AFFAIRS 193584 0 0 0 0 0 0 0 74745 0 268329 0 0 0 ROBERT W DAVIS JR EDD VP OF STUDENT LIFE 178409 0 0 0 0 0 17577 0 27421 0 223407 0 0 0 PATRICIA L TETREAULT VP HUMAN RESOURCES 171016 0 0 0 0 0 17831 0 28991 0 217838 0 0 0 GERALD C ZABOSKI VICE PROVOST, EXTERNAL AFFAIRS 216168 0 0 0 0 0 20944 0 90658 0 327770 0 0 0 ANITRA M MCSHEA VICE PROVOST, STUDENT AFFAIRS 211036 0 0 0 0 0 21572 0 26356 0 258964 0 0 0 PATRICIA HARRINGTON INTERIM ASSOC. PROVOST, INST. EFFECT 155658 0 0 0 0 0 15042 0 6214 0 176914 0 0 0 BRIAN P CONNIFF PHD DEAN, CAS 182256 0 0 0 0 0 17739 0 26356 0 226351 0 0 0 MICHAEL O MENSAH PHD DEAN, KSOM 285048 0 0 0 0 0 22991 0 64605 0 372644 0 0 0 DEBRA A PELLEGRINO EDD DEAN, PCPS 205346 0 0 0 0 0 19560 0 4936 0 229842 0 0 0 MURLI RAJAN PHD CFA INTERIM DEAN, KSOM 191445 0 0 0 0 0 19378 0 32951 0 243774 0 0 0 DOUGLAS M BOYLE DBA CPA CMA ASSOCIATE PROFESSOR 376620 0 0 0 0 0 15301 0 57042 0 448963 0 0 0 JAMES F BOYLE DBA CPA ASSISTANT PROFESSOR 298339 0 0 0 0 0 13216 0 91267 0 402822 0 0 0 NABIL A TAMIMI PHD PROFESSOR 236276 0 0 0 0 0 13161 0 16229 0 265666 0 0 0 DAVID F SALERNO CPA PHD INTRM. ASSOC. DEAN, KSOM, ASSOC. PRO 245245 0 0 0 0 0 18782 0 22585 0 286612 0 0 0 STEVEN J SZYDLOWSKI DHA PROFESSOR 240631 0 0 0 0 0 8498 0 9825 0 258954 0 0 0 ROBYN L DICKINSON DIR INST RESEARCH, FORMER OFFICER 66476 0 0 0 55095 0 11812 0 24763 0 158146 0 0 0 HAROLD W BAILLIE PHD PROFESSOR, FORMER OFFICER 129605 0 0 0 0 0 8806 0 15021 0 153432 0 0 0 WILLIAM J WELSH PHD PROFESSOR, FORMER KEY EMPLOYEE 107306 0 0 0 0 0 10828 0 9825 0 127959 0 0 0 PART I, LINE 1A THE UNIVERSITY'S TRAVEL AND EXPENSE POLICY ALLOWS FOR FIRST- AND BUSINESS-CLASS AIR TRAVEL IN CERTAIN CIRCUMSTANCES FOR UNIVERSITY OFFICERS. TAX INDEMNIFICATION AND GROSS-UP PAYMENTS INCLUDE THE GROSS-UP OF INCOME TAXES ON MOVING EXPENSES FOR THE PRESIDENT. THE VALUE OF THE MOVING EXPENSES AND INCOME TAX THEREON IS INCLUDED IN THE PRESIDENT'S COMPENSATION DISCLOSED IN PART VII OF THE FORM 990. THE UNIVERSITY PROVIDES ON-CAMPUS HOUSING FOR THE PRESIDENT. THE ESTIMATED VALUE OF THIS HOUSING IS $18,560. THE HOUSING VALUES ARE BASED UPON RESIDENCE HALL RATES CHARGED TO UNIVERSITY STUDENTS. THE HOUSING VALUE IS INCLUDED IN THE PRESIDENT'S COMPENSATION DISCLOSED IN PART VII OF THE FORM 990. THE UNIVERSITY PAYS FOR INITIATION FEES AND MONTHLY DUES FOR A MEMBERSHIP FOR THE PRESIDENT TO THE SCRANTON COUNTRY CLUB. THE UNIVERSITY ALSO PAYS FOR THE ANNUAL MEMBERSHIP FEES FOR THE VICE PRESIDENT FOR UNIVERSITY ADVANCEMENT IN HIS/HER ROLE AT THE FOLLOWING SOCIAL CLUBS: HAMILTON FARM GOLF CLUB OF GLADSTONE, NJ AND GLENMAURA NATIONAL GOLF CLUB OF MOOSIC, PA. THESE MEMBERSHIPS ARE USED BY SENIOR ADMINISTRATORS TO HOST MEETINGS WITH BUSINESS PARTNERS OF THE UNIVERSITY, BOARD OF TRUSTEES MEMBERS, POTENTIAL DONORS, AND FACULTY AND STAFF. MEMBERSHIP IN THESE CLUBS ALLOWS FOR RECIPROCAL USE OF OTHER RELATED VENUES WITHIN THE UNITED STATES. THESE RECIPROCAL AGREEMENTS ALLOW SENIOR ADMINISTRATION TO HOST QUALITY BUSINESS AND FUNDRAISING EVENTS OUTSIDE THE COMMONWEALTH OF PENNSYLVANIA. THE UNIVERSITY ALSO PAYS FOR PERSONAL ASSISTANT SERVICES FOR THE PRESIDENT. PART I, LINE 3 THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS APPROPRIATE ANALYSES AND STUDIES PREPARED BY THE HUMAN RESOURCES OFFICE OR EXTERNAL SOURCES TO AID IN EVALUATING COMPENSATION AND BENEFITS AND STRATEGIES TO ATTRACT AND RETAIN QUALIFIED PERSONNEL FOR SENIOR EXECUTIVE ADMINISTRATIVE POSITIONS. THE COMMITTEE ANNUALLY REVIEWS AND APPROVES COMPENSATION AND BENEFITS FOR SENIOR ADMINISTRATORS AND OFFICERS OF THE UNIVERSITY. THIS REVIEW INCLUDES COMPARABLE MARKET DATA FOR POSITIONS AT OTHER HIGHER EDUCATION INSTITUTIONS. THE COMMITTEE REPORTS TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES THE TOTAL COMPENSATION PAID TO THE UNIVERSITY'S PRESIDENT AND VICE PRESIDENTS. THE COMMITTEE REVIEWS THE RECOMMENDATIONS OF, AND ADVISES THE PRESIDENT AS TO THE INDIVIDUAL EMPLOYMENT CONTRACTS THAT ARE ABOVE AND BEYOND THE SCOPE OF THE UNIVERSITY'S BASE COMPENSATION AND BENEFITS STRUCTURE. PART I, LINE 4A THE UNIVERSITY'S FORMER DIRECTOR OF INSTITUTIONAL RESEARCH, ROBYN DICKINSON, WAS PAID $55,095 UNDER A SEPARATION AGREEMENT FOR THE PERIOD JUNE 1, 2018 THROUGH NOVEMBER 30, 2018. A CITY OF WILKES-BARRE FINANCING AUTHORITY 205684698 968254AX0 2010-09-09 67855761 SEE PART VI 0 0 0 B NE PA HOSPITAL & EDUCATION AUTHORITY 237394107 2014-09-11 20000000 SEE PART VI 0 0 0 C CITY OF WILKES-BARRE FINANCING AUTHORITY 205684698 968254BT8 2015-08-04 39134183 SEE PART VI 0 0 0 D SCR-LACKAWANNA HEALTHWELFARE AUTHORITY 232205980 810694K73 2016-07-07 29240908 SEE PART VI 0 0 0 A 63030000 67855761 568398 67287363 2011 0 0 1 1 B 300000 20000000 101773 19898227 2015 0 0 1 1 C 39134183 288533 38845650 2015 1 1 1 1 D 29240908 308557 28932351 2016 0 1 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 0 B 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 0 C 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 0 D 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 0 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 1 0 0 0 1 C 0 1 0 0 0 0 0 0 1 D 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 D 1 SCHEDULE K, PART I, BOND ISSUES: BOND ISSUE A: (A) ISSUER NAME: CITY OF WILKES-BARRE FINANCING AUTHORITY (F) DESCRIPTION OF PURPOSE: CONSTRUCTION OF LOYOLA SCIENCE CENTER, MULTI-PURPOSE 400 BED RESIDENCE HALL BOND ISSUE B: (A) ISSUER NAME: NE PA HOSPITAL & EDUCATION AUTHORITY (F) DESCRIPTION OF PURPOSE: PARTIAL FINANCING FOR CONSTRUCTION OF A NEW REHABILITATION EDUCATION CENTER BOND ISSUE C: (A) ISSUER NAME: CITY OF WILKES-BARRE FINANCING AUTHORITY (F) DESCRIPTION OF PURPOSE: REFUNDING OF 2006 BONDS, WHICH WERE ISSUED 03/02/06 BOND ISSUE D: (A) ISSUER NAME: SCR-LACKAWANNA HEALTH/WELFARE AUTHORITY (F) DESCRIPTION OF PURPOSE: REFUNDING OF SERIES 2007 BONDS, WHICH WERE ISSUED 10/12/07 BOND ISSUE E: (A) ISSUER NAME: LACKAWANNA CNTY INDUSTRIAL DEVELOPMENT AUTHORITY (F) DESCRIPTION OF PURPOSE: PARTIAL REFUNDING OF SERIES 2010 BONDS, WHICH WERE ISSUED 09/09/10, AND REFUNDING SERIES 2002 K1 BONDS, WHICH WERE ISSUED 12/16/02. SCHEDULE K, PART III, LINE 9: THE UNIVERSITY HAS PROCEDURES IN PLACE BUT NO WRITTEN POLICY TO ENSURE COMPLIANCE WITH THESE REQUIREMENTS. THE UNIVERSITY IS WORKING TO FINALIZE A FORMAL WRITTEN POLICY. SCHEDULE K, PART IV, ARBITRAGE, LINE 2C: BOND ISSUE A: (A) ISSUER NAME: SCRANTON-LACKAWANNA HEALTH AND WELFARE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 11/21/2017 BOND ISSUE C: (A) ISSUER NAME: CITY OF WILKES-BARRE FINANCING AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 12/15/2014 A LACKAWANNA CNTY INDUSTRIAL DEV AUTHORITY 232058328 505493AY2 2017-11-01 70539319 SEE PART VI 0 0 0 A 100000 70539319 478216 70061103 2017 1 1 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 0 A 0 1 0 0 0 0 0 0 1 A 1 ROBERT B FARRELL ESQ SEE PART V SEE PART V X 157416 157416 0 1 1 157416 SCHEDULE L, PART II, LOANS TO AND FROM INTERESTED PERSONS: (A) NAME OF PERSON: ROBERT B. FARRELL, ESQ.(B) RELATIONSHIP WITH ORGANIZATION: GENERAL COUNSEL(C) PURPOSE OF LOAN: EDUCATIONAL ASSISTANCE X 2 25800 APPRAISAL/RECEIPT X 1 20000 INVOICE X 17 236863 MARKET VALUE X 1 388 RECEIPTS X EVENT RENTALS/DECOR 2 2065 RECEIPTS X GIFT CARDS 6 1350 FACE VALUE X MUSICAL INSTRUMENT 1 1285 APPRAISAL X RAFFLE PRIZES 4 620 DONOR VALUATION 0 1 1 PART I, COLUMN (B): THE NUMBER REPORTED IN COLUMN B REPRESENTS THE NUMBER OF DONORS. PART I, LINE 32B: THE UNIVERSITY OF SCRANTON UTILITIZES OUR PRIMARY BANKING PARTNER, PNC BANK, TO SELL ALL STOCK GIFTS AT MARKET VALUE AS THEY ARE RECEIVED. FORM 990, PART VI, SECTION A, LINE 2 THE PRESIDENT OF THE UNIVERSITY, REV. SCOTT R. PILARZ, S.J., AND THE INTERIM PRESIDENT OF THE UNIVERSITY, REV. HERBERT B. KELLER, S.J., ARE MEMBERS OF THE SCRANTON JESUIT COMMUNITY AND THE MARYLAND PROVINCE OF THE SOCIETY OF JESUS. OTHER CLERGY THAT ARE MEMBERS OF THE BOARD OF TRUSTEES MAY ALSO BE MEMBERS OF THE MARYLAND PROVINCE OF THE SOCIETY OF JESUS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED IN-HOUSE BASED UPON THE AMOUNTS REPORTED IN THE AUDITED FINANCIAL STATEMENTS. THE DRAFT FORM 990 IS COMPLETED BY TREASURER'S OFFICE PERSONNEL AND IS REVIEWED BY INDEPENDENT TAX ADVISORS AND BY THE UNIVERSITY'S SENIOR VICE PRESIDENT (SVP) FOR FINANCE AND ADMINISTRATION BEFORE BEING SENT TO THE AUDIT COMMITTEE FOR REVIEW. THE AUDIT COMMITTEE HAS APPROXIMATELY A ONE-WEEK PERIOD PRIOR TO THE REGULARLY SCHEDULED BOARD MEETING TO COMMENT ON THE DRAFT AND APPROPRIATE REVISIONS ARE MADE BASED UPON THOSE COMMENTS. THE REVISED DRAFT IS THEN MADE AVAILABLE TO THE FULL BOARD OF TRUSTEES ON A SECURE UNIVERSITY WEBSITE. AT THE REGULAR BOARD MEETING THE BOARD FORMALLY ADOPTS THE FORM 990 AS FINAL AND AUTHORIZES THE UNIVERSITY'S SVP FOR FINANCE AND ADMINISTRATION TO FILE THE FORM 990 WITH THE IRS. AN IDENTICAL AND SIMULTANEOUS PROCESS IS FOLLOWED TO FILE THE UNIVERSITY'S ANNUAL FORM 990-T. FORM 990, PART VI, SECTION B, LINE 12C THE UNIVERSITY'S SECRETARY TO THE BOARD OF TRUSTEES EXPLAINS AND COLLECTS COMPLETED CONFLICT OF INTEREST STATEMENTS. THE STATEMENTS ARE DISSEMINATED TO MEMBERS OF THE BOARD OF TRUSTEES, OFFICERS, THOSE INVOLVED IN MANAGING FACILITIES AND PROCUREMENT, AND INDIVIDUALS MANAGING GRANT-FUNDED PROJECTS. THESE STATEMENTS ARE REVIEWED BY THE SECRETARY AND THE INTERNAL AUDITOR. THE SECRETARY ATTENDS ALL BOARD MEETINGS WHERE ACTIONS ARE VOTED UPON TO ENSURE THAT INDIVIDUALS WITH POTENTIAL OR ACTUAL CONFLICTS REFRAIN FROM 1) PARTICIPATING IN DISCUSSION, 2) BEING PRESENT DURING A VOTE, OR 3) VOTING UPON THE MATTER INVOLVING THE POTENTIAL OR ACTUAL CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS APPROPRIATE ANALYSES AND STUDIES PREPARED BY THE HUMAN RESOURCES OFFICE OR EXTERNAL SOURCES TO AID IN EVALUATING COMPENSATION AND BENEFITS AND STRATEGIES TO ASSURE THEY ARE APPROPRIATE TO ATTRACT AND RETAIN QUALIFIED PERSONNEL FOR SENIOR EXECUTIVE ADMINISTRATIVE POSITIONS. THE COMMITTEE ANNUALLY REVIEWS AND APPROVES COMPENSATION AND BENEFITS FOR SENIOR ADMINISTRATORS AND OFFICERS OF THE UNIVERSITY. THIS REVIEW INCLUDES COMPARABLE MARKET DATA FOR POSITIONS AT OTHER HIGHER EDUCATION INSTITUTIONS. THE COMMITTEE REPORTS TO THE EXECUTIVE COMMITTEE THE TOTAL COMPENSATION PAID THE UNIVERSITY'S PRESIDENT AND VICE PRESIDENTS. THE COMMITTEE REVIEWS THE RECOMMENDATIONS OF, AND ADVISES THE PRESIDENT AS TO INDIVIDUAL CONTRACTS THAT ARE ABOVE AND BEYOND THE SCOPE OF THE UNIVERSITY'S BASE COMPENSATION AND BENEFITS STRUCTURE. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY MAKES ITS GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. MUCH OF THIS INFORMATION IS ALSO AVAILABLE IN THE UNIVERSITY'S ANNUAL INFORMATION RETURN ON FORM 990 FILED WITH THE INTERNAL REVENUE SERVICE. THE FORM 990 AND THE OTHER DOCUMENTS NOTED ABOVE ARE AVAILABLE TO THE PUBLIC AT THE UNIVERSITY'S TREASURER'S OFFICE. THE FORM 990 IS ALSO AVAILABLE TO THE PUBLIC ONLINE AT "WWW.GUIDESTAR.ORG." FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST LIABILITY 1,034,435. FORM 990, PART VII, SECTION A: THE UNIVERSITY'S INTERIM PRESIDENT AND PRESIDENT ARE MEMBERS OF THE SOCIETY OF JESUS. MEMBERS OF THE SOCIETY OF JESUS TAKE A VOW OF POVERTY. COMPENSATION FOR THESE UNIVERSITY OFFICERS POSITIONS ARE PAID DIRECTLY TO THE RELIGIOUS ORDER WHICH IS EXEMPT UNDER SECTION 501(C)(3). UNDER REV. RUL. 77-290, MEMBERS OF A RELIGIOUS ORDER PROVIDING SERVICES TO A CATHOLIC ORGANIZATION WILL BE CONSIDERED FOR TAX PURPOSES TO BE AN AGENT OF THE ORDER PROVIDED: 1) THE RELIGIOUS IS SUBJECT TO A VOW OF POVERTY, 2) THE RELIGIOUS IS PROVIDING SERVICES FOR A CATHOLIC ORGANIZATION LISTED IN THE OFFICIAL CATHOLIC DIRECTORY AT THE DIRECTION OF HIS SUPERIOR, AND 3) THE FULL AMOUNT OF COMPENSATION IS REMITTED TO THE TAX EXEMPT ORDER BY THE ORGANIZATION. FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE OF THE UNIVERSITY'S BOARD OF TRUSTEES IS APPOINTED BY THE BOARD TO ASSIST THE BOARD IN THE DISCHARGE OF ITS OVERSIGHT RESPONSIBILITIES. THE AUDIT COMMITTEE OVERSEES THE FINANCIAL REPORTING PROCESS TO ENSURE THE BALANCE, TRANSPARENCY, AND INTEGRITY OF PUBLISHED FINANCIAL INFORMATION. THE AUDIT COMMITTEE ALSO REVIEWS THE INDEPENDENT AUDIT PROCESS, INCLUDING RECOMMENDING THE APPOINTMENT AND ASSESSING THE PERFORMANCE OF THE EXTERNAL AUDITORS. FORM 990, PART VI, SECTION B, LINES 16A AND 16B: THE UNIVERSITY MONITORS ITS RELATIONSHIPS WITH WITH FOR-PROFIT VENDORS TO ENSURE ITS TAX-EXEMPT STATUS IS NOT COMPROMISED AND IS IN THE PROCESS OF DEVELOPING A FORMAL WRITTEN POLICY TO DOCUMENT THESE PROCEDURES. THE UNIVERSITY HAS ENTERED INTO JOINT VENTURE ARRANGEMENTS WITH TWO PRIVATE ON-LINE EDUCATION PARTNERS TO PROVIDE TECHNICAL, RECRUITMENT, AND MARKETING SUPPORT FOR ITS ONLINE MBA AND ONLINE GRADUATE EDUCATION DEGREE PROGRAMS. THE UNIVERSITY EVALUATES ALL POTENTIAL JOINT VENTURES TO DETERMINE WHETHER THE ACTIVITIES WILL GENERATE UNRELATED BUSINESS INCOME. THE TREASURER'S OFFICE IS INVOLVED IN DISCUSSIONS WITH POTENTIAL BUSINESS PARTNERS AND ADVISES AS TO WHETHER OR NOT JOINT VENTURE RELATIONSHIPS COULD BE DETRIMENTAL TO THE UNIVERSITY'S TAX-EXEMPT STATUS. THE CURRENT JOINT VENTURES WITH ONLINE EDUCATION PROVIDERS CONSTITUTE ACTIVITIES CENTRAL TO THE UNIVERSITY'S MISSION.