2020-03-03T09:47:39-06:00 2019-06-30 GRANT THORNTON LLP 2001 MARKET STREET SUITE 700 PHILADELPHIA PA 19103 990 2018-07-01 231627436 Peirce College % ELIZABETH KRAPP PEIR 2156709128 1420 Pine Street Philadelphia PA 19102 ELIZABETH KRAPP VP FINADM VP, FINANCE & ADMIN 2156709128 2020-03-03 true Frank Giardini P00532355 2155614200 65.229.27.130 23695320200635000002 2020-03-03 P 03CBAE45BD8E2F188EB28F31E827C7F4869431D2 6582EB7D7ECDA789F6968C18C82E22043067AF6C 2018 2020-09-23 17:36:50Z Elizabeth Krapp 1420 Pine Street Philadelphia PA 19102 26596451 false X www.peirce.edu X 1963 PA PEIRCE COLLEGE IS A PRIVATE ACCREDITED INSTITUTION OFFERING ASSOCIATE'S/BACHELOR'S/MASTER'S DEGREES in career oriented programs geared towards adult learners. 18 18 295 19 0 5872595 5428524 19725098 18019912 2692842 923088 249961 254469 28540496 24625993 8088920 7246536 0 0 12333402 12260331 0 0 586494 5799726 4899299 26222048 24406166 2318448 219827 36964692 36116863 5844286 4120326 31120406 31996537 X PEIRCE COLLEGE EMPOWERS ADULT LEARNERS TO IMPROVE THEIR LIVES BY ACHIEVING CAREER GOALS THROUGH ACADEMIC OFFERINGS ALIGNED WITH EVOLVING WORKFORCE NEEDS. PEIRCE STRIVES TO BE A TRANSFORMATIONAL LEADER FOCUSED ON PROVIDING ADULT LEARNERS INNOVATIVE ACADEMIC PROGRAMS THROUGH FLEXIBLE DELIVERY OPTIONS AND DYNAMIC PARTNERSHIPS. false false 20690199 7246536 18019912 FOUNDED IN 1865, PEIRCE COLLEGE IS A PRIVATE, SPECIALIZED INSTITUTION PROVIDING PRACTICAL LEADING-EDGE CURRICULA TO PRIMARILY WORKING ADULT LEARNERS. THE COLLEGE AWARDS THE MASTER OF SCIENCE IN ORGANIZATIONAL LEADERSHIP AND MANAGEMENT, THE MASTER OF SCIENCE IN HEALTH CARE ADMINISTRATION, AND THE BACHELOR OF SCIENCE AND ASSOCIATE IN SCIENCE DEGREES. THE DEGREE PROGRAMS ARE IN ACCOUNTING, BUSINESS ADMINISTRATION, CRIMINAL JUSTICE, GENERAL STUDIES, HEALTH INFORMATION ADMINISTRATION, HEALTH INFORMATION TECHNOLOGY, HEALTHCARE ADMINISTRATION, HUMAN RESOURCE MANAGEMENT, INFORMATION TECHNOLOGY AND PARALEGAL STUDIES. PEIRCE COLLEGE OFFERS ITS PROGRAMS UTILIZING TWO INTERCHANGEABLE DELIVERY FORMATS: ON CAMPUS AT ITS CENTER CITY PHILADELPHIA LOCATION AND ONLINE THROUGH WEB BASED DISTANCE LEARNING. PEIRCE COLLEGE IS ACCREDITED BY THE MIDDLE STATES COMMISSION ON HIGHER EDUCATION. THE BACHELOR OF SCIENCE AND ASSOCIATE IN SCIENCE DEGREES AND THE CERTIFICATE OF PROFICIENCY IN PARALEGAL STUDIES ARE RECOGNIZED AND APPROVED BY THE AMERICAN BAR ASSOCIATION (ABA). THE ACCREDITATION COUNCIL FOR BUSINESS SCHOOLS AND PROGRAMS (ACBSP) ACCREDITS PEIRCE COLLEGE'S BACHELOR OF SCIENCE AND ASSOCIATE IN SCIENCE DEGREES AND CERTIFICATES OF PROFICIENCY IN BUSINESS ADMINISTRATION AND ACCOUNTING. 20690199 true true false false false false false false false true true false false false true true true false true false false false false false false false false false true true false false false false false false false false false false false false false false false false false true 2434 0 true 295 true false false false false false false false false false false false false X 18 18 false false false false false false false true true false false true true true true true true true true false X ELIZABETH KRAPP 2156709128 1420 PINE STREET Philadelphia PA 19102 William H Morgan Vice Chair 1.0 0.0 X X 0 0 0 Barbara A Prutzman Board Chair 1.0 0.0 X X 0 0 0 Marc D Ammaturo Board Member 1.0 0.0 X 0 0 0 Joseph F Barstys Board Member 1.0 0.0 X 0 0 0 Toni Pergolin Vice Chair 1.0 0.0 X X 0 0 0 Lisa A Curran Board Member - end 04/2019 1.0 0.0 X 0 0 0 Keith Daviston Board Member 1.0 0.0 X 0 0 0 Robert G Grasso Board Member 1.0 0.0 X 0 0 0 Tom Karinshak Board Member 1.0 0.0 X 0 0 0 Mark Edwards Board Member 1.0 0.0 X 0 0 0 Lisa S Walker Board Member 1.0 0.0 X 0 0 0 Scott D Smith Board Member 1.0 0.0 X 0 0 0 Brian Swift Board Member 1.0 0.0 X 0 0 0 Lawrence Scanlan Board Member 1.0 0.0 X 0 0 0 Sharmain Matlock-Turner Board Member 1.0 0.0 X 0 0 0 Joshua W B Richards Board Member 1.0 0.0 X 0 0 0 David Silverman Board Member 1.0 0.0 X 0 0 0 Renee Byng Yancey Board Member 1.0 0.0 X 0 0 0 Thomas McLaughlin Board Member 1.0 0.0 X 0 0 0 Kathryn McCluskey Board Member - term 8/2018 1.0 0.0 X 0 0 0 Mary Ellen Caro President and CEO 40.0 0.0 X 231575 0 13325 Elizabeth M Krapp VP Finance/Admin & Treasurer 40.0 0.0 X 180900 0 24103 Tara McBride Board Secretary 40.0 0.0 X 76696 0 12791 Rita Toliver Provost & VP Academic Adv 40.0 0.0 X 182478 0 37276 Brad K Hodge VP Enroll/Student Services 40.0 0.0 X 147175 0 16485 Harriet Golen VP Human Resource 40.0 0.0 X 137025 0 19820 Adrian Zappala Dean of Graduate Studies 40.0 0.0 X 143812 0 27991 James Burns Chief Information Officer 40.0 0.0 X 131045 0 18426 Stephanie Donovan Assoc Prof/Chair, Health Prog 40.0 0.0 X 119979 0 27329 Debra Schrammel AVP, Institutional Assessment 40.0 0.0 X 125662 0 16285 Uva Coles VP, Instl Advancement 40.0 0.0 X 120269 0 18753 1596616 0 232584 30 true true false Harmelin Media 525 Righters Ferry Road BALA CYNWYN PA 19004 Advertising 659495 A Book Company 28312 Network Place CHICAGO IL 60673 Book Provider 579444 Allied Universal Security Services 161 Washington Street Suite 600 CONSHOHOCKEN PA 19428 Security 305260 Grant Thornton LLP 2001 Market Street Suite 700 PHILADELPHIA PA 19103 Audit and Tax 136872 Duane Morris LLP 30 South 17th Street PHILADELPHIA PA 19103 Legal 159596 5 5154604 273920 5428524 TUITION AND FEES 900099 18019912 18019912 0 0 18019912 608923 608923 0 0 111779 111779 0 111779 111779 2284623 1970458 314165 314165 314165 0 0 0 0 0 0 0 0 0 BOOKSTORE 323111 34414 0 0 34414 VENDING FEES 900099 5411 0 0 5411 ALL OTHER 900099 102865 0 0 102865 142690 24625993 18019912 0 1177557 0 7246536 7246536 0 0 1229820 848110 318246 63464 0 8152732 6919680 901639 331413 401967 334718 52879 14370 1815195 1225523 546406 43266 660617 548095 83641 28881 0 137760 137760 86877 86877 0 0 29504 29504 609228 388049 212036 9143 760749 760749 216452 197245 11112 8095 745201 679772 43073 22356 0 652086 594832 37691 19563 18016 15881 1726 409 0 18278 17241 427 610 91360 91360 0 749952 684107 43346 22499 129281 129281 PROVISION FOR LOSSES ON A/R 319426 0 319426 0 MEALS & BANQUETS 63395 49656 8963 4776 ALL OTHER 271734 180005 74080 17649 24406166 20690199 3129473 586494 X 1051672 1217236 470108 81417 235769 166745 1252308 1113559 0 0 0 0 0 0 0 0 172285 151772 35139316 25308764 10439872 9830552 23180375 23489378 65736 66204 0 0 0 0 96567 0 36964692 36116863 857984 736875 0 0 659930 258364 0 0 0 0 0 0 3018504 2888510 0 0 1307868 236577 5844286 4120326 X 28107447 29050596 2345786 2271968 667173 673973 31120406 31996537 36964692 36116863 X 219827 656304 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3175705 5848 203515 90566 18783 3895 3271824 996102 1970244 232966 16312 5842 1453 3175705 251810 758155 13863 996102 253476 -1391 275 251810 238688 12116 2946 274 253476 0.18500 0.16000 0.65500 true false 27670 27670 19117342 11078597 8038745 15994304 14230167 1764137 9830552 0 REIMBURSEMENT CONTINGENCY 236577 236577 X 18006256 656304 -2863659 -2207355 20213611 29504 4382878 4412382 24625993 17130125 -4382878 -4382878 21513003 29504 2863659 2893163 24406166 INTENDED USE OF ENDOWNMENT FUNDS SCHEDULE D, PART V, LINE 4 THE COLLEGE'S ENDOWMENT CONSISTS OF DONOR-RESTRICTED AND BOARD DESIGNATED FUNDS TO BE HELD IN PERPETUITY, WITH INCOME BEING USED FOR SCHOLARSHIPS, OPERATING EXPENSES, AND FACULTY AWARDS. ORGANIZATION'S LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER FIN 48 Schedule D, Part X, Line 2 OTHER LIABILITIES THE COLLEGE FOLLOWS THE ACCOUNTING GUIDANCE FOR UNCERTAINTIES IN INCOME TAX POSITIONS WHICH REQUIRES THAT A TAX POSITION BE RECOGNIZED OR NOT RECOGNIZED BASED ON A "MORE LIKELY THAN NOT" THRESHOLD. THIS APPLIES TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE COLLEGE HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND TO REVIEW OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE TAX YEARS ENDED 2016, 2017, 2018 AND 2019 ARE STILL OPEN TO AUDIT FOR BOTH FEDERAL AND STATE PURPOSES. AS OF JUNE 30, 2019 AND 2018, MANAGEMENT HAS DETERMINED THAT THE COLLEGE HAS NO MATERIAL UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE RECOGNITION OR DISCLOSURE IN THE ACCOMPANYING FINANCIAL STATEMENTS. OTHER AMOUNT RECONCILING TO FORM 990, PART VIII SCHEDULE D, PART XI, LINE 2D SCHOLARSHIPS: (2,863,659) ----------- (2,863,659) OTHER AMOUNT RECONCILING TO FORM 990, PART IX SCHEDULE D, PART XII, LINE 4b PELL/PHEAA GRANTS: 4,382,878 ---------- 4,382,878 OTHER AMOUNT RECONCILING TO FORM 990, PART IX SCHEDULE D, PART XII, LINE 2d PELL/PHEAA GRANTS: (4,382,878) ----------- (4,382,878) OTHER AMOUNT RECONCILING TO FORM 990, PART IX SCHEDULE D, PART XII, LINE 4b SCHOLARSHIPS: 2,863,659 ----------- 2,863,659 true true true true true true true false false false false false false false false true false true PUBLICATION OF RACIALLY NON DISCRIMINATORY POLICY SCHEDULE E, PART I, LINE 3 PEIRCE COLLEGE GIVES SCHOLARSHIPS AND GRANTS TO STUDENTS BASED UPON FINANCIAL NEED AND ACADEMIC EXCELLENCE. THE SELECTION OF RECIPIENTS IS MADE BASED UPON OBJECTIVE CRITERIA. NO ONE IS DISCRIMINATED AGAINST BASED UPON RACE, RELIGION, GENDER, ETHNIC BACKGROUND, AGE, HANDICAP, STATUS AS A DISABLED VETERAN, OR ANY OTHER REASON. GOVERNMENT ASSISTANCE SCHEDULE E, PART I, LINE 6A PEIRCE COLLEGE RECEIVED ASSISTANCE FROM THE U.S. DEPARTMENT OF EDUCATION FOR THE FOLLOWING PROGRAMS: FEDERAL PELL GRANT, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT, FEDERAL WORK STUDY, AND THE CARL D. PERKINS CAREER AND TECHNICAL EDUCATION GRANT. PEIRCE COLLEGE ALSO RECEIVED A PENNSYLVANIA INSTITUTIONAL ASSISTANCE GRANT AND A GRANT FROM THE PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY. true Federal Pell Grants 1020 3662317 Federal SEOG 188 202166 Unrestricted 1000 2373884 Restricted by Donors 178 287608 PHEAA 645 720561 PROCEDURE FOR MONITORING USE OF GRANT FUNDS INSIDE U.S. SCHEDULE I, PART I, LINE 2 ALL FINANCIAL AID GRANTS ARE USED FOR THE INTENDED PURPOSE WHICH IS TO PROVIDE AID TO STUDENTS WITH FINANCIAL NEED TO COVER THE STUDENTS' COST OF ATTENDANCE. THESE GRANTS INCLUDE FEDERAL PELL GRANTS, FEDERAL SEOG GRANTS, AND STATE PHEAA GRANTS. THE COLLEGE ALSO AWARDS DONOR RESTRICTED GRANTS THAT ARE PROVIDED FROM FOUNDATIONS, ALUMNI SCHOLARSHIP DONATIONS, AND OTHER DONORS. ADDITIONALLY, THE COLLEGE PROVIDES INTERNAL INSTITUTIONAL GRANTS TO ELIGIBLE STUDENTS. THE GRANTS ARE AWARDED AND POSTED TO THE ELIGIBLE STUDENTS' ACCOUNTS BY THE FINANCIAL AID OFFICE. THESE ACCOUNTS ARE RECONCILED BY THE ACCOUNTING DEPARTMENT AND THE FINANCIAL AID OFFICE ON A MONTHLY BASIS. THE FINANCIAL AID OFFICE COMPLIES WITH THE U.S. DEPARTMENT OF EDUCATION GUIDELINES AS WELL AS ANY DONOR RESTRICTED GRANT GUIDELINES. THE FINANCIAL AID OFFICE REPORTS STUDENT GRANT AWARDS TO THE U.S. DEPARTMENT OF EDUCATION AND PHEAA THROUGHOUT THE YEAR AND ALSO SUBMITS THE REQUIRED ANNUAL FISAP REPORT TO THE U.S. DEPARTMENT OF EDUCATION. AN ANNUAL A-133 AUDIT (FINANCIAL STATEMENTS AND REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTS IN ACCORDANCE WITH OMB CIRCULAR A-133) IS CONDUCTED BY THE COLLEGES' EXTERNAL INDEPENDENT AUDITORS. X X X X false false false false false false false false false Mary Ellen Caro President and CEO 229121 0 0 0 2454 0 0 0 13325 0 244900 0 0 0 Elizabeth M Krapp VP Finance/Admin & Treasurer 180900 0 0 0 0 0 10854 0 13249 0 205003 0 0 0 Rita Toliver Provost & VP Academic Adv 182478 0 0 0 0 0 10800 0 27407 0 220685 0 0 0 Brad K Hodge VP Enroll/Student Services 147175 0 0 0 0 0 8830 0 7655 0 163660 0 0 0 Harriet Golen VP Human Resource 137025 0 0 0 0 0 8221 0 11599 0 156845 0 0 0 Adrian Zappala Dean of Graduate Studies 143812 0 0 0 0 0 7651 0 21024 0 172487 0 0 0 Uva Coles VP, Instl Advancement 120269 0 0 0 0 0 8180 0 10573 0 139022 0 0 0 FORM 990 REVIEW PROCESS FORM 990, PART VI, LINE 11B THE FORM 990 WAS PREPARED BY A NATIONALLY RENOWNED ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S FINANCIAL DEPARTMENT. THE FORM IS THEN SUBMITTED TO AN AUDIT, RISK & COMPLIANCE MANAGEMENT COMMITTEE OF THE BOARD FOR APPROVAL. A COPY OF THE DRAFT 990 IS THEN CIRCULATED TO THE FULL BOARD OF TRUSTEES FOR DISCUSSION AND COMMENT ON THE INFORMATION CONTAINED IN THE 990 PRIOR TO ITS FILING WITH THE INTERNAL REVENUE SERVICE. CONFLICT OF INTEREST POLICY MONITORING & ENFORCEMENT FORM 990, PART VI, LINE 12C THE COLLEGE REQUIRES EACH EMPLOYEE INCLUDING THE PRESIDENT/CEO AND OTHER KEY EMPLOYEES TO COMPLETE AND SIGN A WRITTEN CONFLICTS OF INTEREST STATEMENT THAT INCLUDES QUESTIONS THAT CAN DETERMINE IF THE EMPLOYEE HAS A RELATIONSHIP, FINANCIAL INTEREST OR BUSINESS AFFILIATION THAT RESULTS IN A CONFLICT OF INTEREST. THESE STATEMENTS ARE COMPLETED ANNUALLY BY THE EMPLOYEE AND AT ANY TIME AN EMPLOYEE BECOMES AWARE OF FACTS WHICH REQUIRE AN ADDITIONAL OR UPDATED DISCLOSURE. THESE STATEMENTS ARE RETURNED TO HUMAN RESOURCES FOR REVIEW AND IF NECESSARY FURTHER ACTION MAY BE REQUIRED. THE COLLEGE ALSO REQUIRES EACH TRUSTEE INCLUDING TRUSTEE OFFICERS TO COMPLETE AND SIGN A CONFLICT OF INTEREST QUESTIONNAIRE THAT CAN DETERMINE IF THE TRUSTEE HAS A RELATIONSHIP, FINANCIAL INTEREST OR BUSINESS AFFILIATION THAT RESULTS IN A CONFLICT OF INTEREST. THESE QUESTIONNAIRES ARE COMPLETED ANNUALLY BY EACH TRUSTEE AND RETURNED TO THE BOARD SECRETARY AND ARE REVIEWED BY THE OFFICE OF THE PRESIDENT AND IF NECESSARY FURTHER ACTION MAY BE REQUIRED. IF A CONFLICT OF INTEREST IS IDENTIFIED, THE FOLLOWING PROCEDURES ARE FOLLOWED: (A) AN INTERESTED PERSON MAY TAKE A PRESENTATION AT A BOARD OR COMMITTEE MEETING, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE BUSINESS RELATIONSHIP INVOLVING THE POSSIBLE CONFLICT OF INTEREST. (B) THE CHAIRPERSON OF THE BOARD OR COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THAT PROPOSED BUSINESS RELATIONSHIP. (C) AFTER EXERCISING DUE DILIGENCE, THE BOARD OR COMMITTEE SHALL DETERMINE WHETHER THE COLLEGE CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS BUSINESS RELATIONSHIP FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. (D) IF A MORE ADVANTAGEOUS BUSINESS RELATIONSHIP IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED TRUSTEES WHETHER THE BUSINESS RELATIONSHIP IS IN THE COLLEGE'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION, IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE BUSINESS RELATIONSHIP. PROCESS FOR DETERMINING COMPENSATION FORM 990, PART VI, LINE 15A MARY ELLEN CARO REPLACED JAMES MERGIOTTI AS PRESIDENT AND CEO OF PEIRCE COLLEGE IN APRIL OF 2018. THE COMPENSATION ESTABLISHED FOR CARO WAS DETERMINED AS A RESULT OF A COMPENSATION STUDY CONDUCTED IN 2017 AS PART OF THE PRESIDENTIAL SEARCH. BOTH THIS STUDY CONDUCTED IN 2017 FOR CARO AND THE STUDY PERFORMED IN 2014 FOR MERGIOTTI WERE COMISSIONED BY THE BOARD OF TRUSTEES. THE COMPENSATION DATA WAS COMPILED USING INFORMATION FROM OTHER COLLEGES AND UNIVERSITIES AS A GUIDE IN DETERMINING REASONABLE COMPENSATION FOR THE PRESIDENT POSITION. PROCESS FOR DETERMINING COMPENSATION FORM 990, PART VI, LINE 15B THE COMPENSATION FOR THE KEY EMPLOYEES OF PEIRCE COLLEGE WAS DETERMINED BY LOCAL AND REGIONAL MARKET SURVEYS AND INFORMATION AND DATA FROM LOCAL AND REGIONAL PUBLICATIONS AND PAPERS. THIS INFORMATION, ALONG WITH INTERNAL EQUITY, DETERMINE THE BASIS HIRE-IN SALARY OF KEY EMPLOYEES. ANNUALLY, KEY EMPLOYEES ARE EVALUATED BY THE PRESIDENT USING A PERFORMANCE MANAGEMENT DOCUMENT (PMD) WHICH IS STANDARD REVIEW USED BY ALL MANAGERS THROUGHOUT THE COLLEGE. THIS PROCESS ALSO DETERMINES THE PERCENT OF MERIT INCREASES RECEIVED. THE MERIT INCREASE PERCENTAGES ARE DETERMINED AS PART OF THE BUDGET PROCESS AND THE LEVEL OF PERCENTAGE INCREASES GIVEN TO THE KEY EMPLOYEES IS BASED ON THE SCORING OUTCOME OF THEIR PMD. ONCE THE MERIT INCREASES FOR THE KEY EMPLOYEES ARE DETERMINED AND APPROVED BY THE PRESIDENT, THE BOARD OF TRUSTEES IS INFORMED OF THE INCREASES. HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC FORM 990, PART VI, LINE 19 THE COLLEGE MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC BY RESERVING A COPY AT ITS PLACE OF BUSINESS. THE FORM 990 IS LIKEWISE PUBLISHED ON THE INTERNET AT WWW.GUIDESTAR.ORG. THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY WILL BE PROVIDED AT THE DISCRETION OF MANAGEMENT, IF REQUESTED. other liabilities FORM 990, PART X, line 25 DURING THE YEAR ENDED JUNE 30, 2011, THE COLLEGE ACCRUED AN AMOUNT RELATED TO A CONTINGENCY FOR A POTENTIAL REIMBURSEMENT DUE TO A COMMONWEALTH OF PENNSYLVANIA AGENCY. IN JUNE 2017, THE COLLEGE NEGOTIATED A REIMBURSEMENT AMOUNT. THE REMAINING LIABILITY WILL BE SETTLED THROUGH A REDUCTION OF GRANT MONIES THROUGH ACADEMIC YEAR 2021-2022.