2020-01-16T10:00:10-06:00 2019-06-30 510232399 BELFINT LYONS & SHUMAN PA 1011 CENTRE RD STE 310 WILMINGTON DE 19805 990 2018-07-01 510109178 GOLDEY-BEACOM COLLEGE INC GOLD 3029988814 4701 LIMESTONE ROAD WILMINGTON DE 19808 KRISTINE SANTOMAURO EXECUTIVE VICE PRESIDENT 3022256268 2019-12-13 1 JONATHAN D MOLL CPA P01053700 3022250600 2019-12-13 50.233.99.242 2019-12-13 09:31:34 ES P BD4DAB8E93E1E099784DE96428ADF4F66C74623D 185ECF5D22CB8A30801E4AB4EDB5AA8885508F16 2018 2020-09-23 17:36:50Z KRISTINE SANTOMAURO 4701 LIMESTONE ROAD WILMINGTON DE 19808 49380280 0 X WWW.GBC.EDU X 1951 DE TO CONFER THE ASSOCIATE, BACCALAUREATE AND GRADUATE DEGREES ON QUALIFIED STUDENTS. 10 9 346 38 0 0 4142102 2143433 37511999 32987193 5041672 5886439 191871 157404 46887644 41174469 20696001 19719583 0 0 8622822 8997719 0 0 273208 6367727 6566585 35686550 35283887 11201094 5890582 176007656 189555020 3094064 3170120 172913592 186384900 X IN ITS SECOND CENTURY, GOLDEY-BEACOM COLLEGE REAFFIRMS ITS COMMITMENT TO THE PROUD TRADITION OF PROVIDING ACCESSIBLE, HIGH-QUALITY, CAREER-FOCUSED EDUCATION. AN INDEPENDENT, MULTILEVEL COLLEGE, GOLDEY-BEACOM COLLEGE OFFERS CHALLENGING UNDERGRADUATE AND GRADUATE PROGRAMS. AS A TEACHING-ORIENTED INSTITUTION OF HIGHER LEARNING, THE COLLEGE EMPHASIZES INSTRUCTIONAL EXCELLENCE IN THE CLASSROOM AND IS COMMITTED TO SUSTAINING FACULTY WHO ARE CARING, DEDICATED AND KNOWLEDGEABLE IN THEIR RESPECTIVE FIELDS, WHO MOTIVATE THEIR STUDENTS TO REALIZE THEIR FULL LEARNING POTENTIAL, AND, ABOVE ALL, WHO REPRESENT TEACHING EXCELLENCE. GOLDEY-BEACOM COLLEGE IS FURTHER COMMITTED TO PROVIDING A CARING, WHOLESOME, INTELLECTUALLY STIMULATING LEARNING ENVIRONMENT TO ITS STUDENTS SO THEY MAY GROW AS INDIVIDUALS AND BECOME WORTHY, PRODUCTIVE MEMBERS OF SOCIETY. 0 0 25372013 18780674 30931698 PROGRAMS OF STUDY-DAY AND EVENING ACADEMIC PROGRAMS WHICH PROVIDE TRAINING AND EDUCATION TO 791 FULL-TIME STUDENTS AND 988 PART-TIME STUDENTS. 2020986 590159 2055495 AUXILIARY ENTERPRISES - RESIDENCE HALLS, FOOD SERVICE AND RELATED SUMMER PROGRAMS INCLUDING MODERN APARTMENTS LOCATED ADJACENT TO THE ACADEMIC BUILDING PROVIDING HOUSING FOR 286 STUDENTS. FOOD SERVICE FACILITIES AND OTHER RELATED SERVICES AVAILABLE FOR STUDENTS AND SUMMER PROGRAM ATTENDEES. THE CAMPUS STORE SELLS SCHOOL SUPPLIES, COLLEGE APPAREL, AND SMALL MISCELLANEOUS ITEMS TO STUDENTS TO ASSIST IN PROVIDING A COLLEGIATE EXPERIENCE. 4441744 348750 0 SERVICES PROVIDED TO STUDENTS FOR ACTIVITIES, ATHLETICS, AND FINANCIAL AID AND TO SUPPORT DEPARTMENTS OF THE COLLEGE. 31834743 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 24 0 1 346 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 10 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X KRISTINE SANTOMAURO 3029988814 4701 LIMESTONE ROAD WILMINGTON DE 19808 JAVED GILANI TRUSTEE 2.00 X 0 0 0 E THOMAS HARVEY III TRUSTEE 2.00 X 0 0 0 JOAN VERBONITZ PANIK TRUSTEE 2.00 X 0 0 0 R JEFFREY JOHNSON BOARD SECRETARY/TREASURER 2.00 X X 0 0 0 JOHN J PATTERSON III TRUSTEE 2.00 X 0 0 0 CORNELIA N WINNER BOARD VICE CHAIR 2.00 X X 0 0 0 GARY WIRT PRESIDENT 40.00 X X 501966 0 34125 MARK OLAZAGASTI BOARD CHAIR 2.00 X X 0 0 0 URSULA SHARP TRUSTEE 2.00 X 0 0 0 NOREEN D LASORSA TRUSTEE 2.00 X 0 0 0 KRISTINE SANTOMAURO EXECUTIVE VICE PRESIDENT 40.00 X 357880 0 44773 ALISON WHITE VP FOR ACADEMIC AFFAIRS 40.00 X 174409 0 33005 EMILY JACKSON ILYAS DEAN 40.00 X 173696 0 29303 IBRAHIM ELSAIFY ASSOCIATE PROFESSOR 40.00 X 111489 0 13825 DEBORAH LEITSCH PROFESSOR 40.00 X 117236 0 15350 JANE LYSLE DEAN 40.00 X 117201 0 22990 CHARLES HAMMOND DEAN 40.00 X 117887 0 9685 1671764 0 203056 15 0 1 0 BLACKNEY HAYES ARCHITECTS 150 S INDEPENDENT MALL WEST SUITE PHILADELPHIA PA 19106 ARCHITECT SERVICES 779433 EDIS COMPANY 110 SOUTH POPLAR WILMINGTON DE 19801 CONSTRUCTION MANAGEMENT SERVICES 728039 JENZABAR PO BOX 55018 BOSTON MA 022055018 COMPUTERING SERVICES 353250 NATIONAL HVAC SERVICE 42-A SOUTHGATE BLVD NEW CASTLE DE 19720 HVAC SERVICES 235042 ALLIED UNIVERSAL SECURITY SERVICES PO BOX 828854 PHILADELPHIA PA 191828854 SECURITY SERVICES 223974 9 1722720 420713 1015 2143433 STUDENT TUITION & FEES 611310 30931698 30931698 RESIDENCE HALL FEES 721000 1870550 1870550 FOOD SERVICE REVENUE 611710 147948 147948 CAMPUS STORE REVENUE 451211 36997 36997 32987193 5012637 5012637 9079613 8205811 873802 873802 873802 MISCELLANEOUS INCOME 900099 157404 157404 157404 41174469 32987193 0 6043843 19719583 19719583 1324612 599310 584387 140915 6141034 5365675 679980 95379 390774 249244 137511 4019 630109 421475 208202 432 511190 429137 70176 11877 95990 95990 52915 52915 234100 234100 442513 369538 72975 344219 333238 10981 684570 376709 295724 12137 877185 877185 981814 892355 86415 3044 278827 249920 24672 4235 988073 636671 350287 1115 177344 82510 94834 STUDENT ACTIVITIES 626303 626303 EQUIPMENT MAINTENANCE 194722 194722 DATABASE RENTALS 130798 130798 FUNCTIONS AND RECEPTION 102190 79891 22244 55 355022 200479 154543 35283887 31834743 3175936 273208 2450 3400 5959695 5549578 1114168 892602 30250 54808 39277 31754 454045 490058 30847260 21295823 7660276 9551437 160725622 172957312 21873 24071 176007656 189555020 91076 720005 3002988 2450115 3094064 3170120 X 152810875 164738624 10994570 12449368 9108147 9196908 172913592 186384900 176007656 189555020 5890582 7580726 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 146644106 153873 12813155 4170520 155440614 128930305 10900989 11286112 4473300 146644106 107483695 11882856 13264178 3700424 128930305 94924454 13098664 2463342 3002765 107483695 83030478 10985215 3298740 2389979 94924454 0.87510 0.05920 0.06570 0 0 388137 388137 21320632 15436999 5883633 4199045 3701802 497243 4939446 2157022 2782424 9551437 ADVANCED TUITION & FEES 1408292 STUDENT DEPOSITS 209698 ACCRUED PAYROLL 822677 OTHER LIABILITIES 9448 2450115 X 30537100 7580726 7580726 22956374 234100 17983995 18218095 41174469 17065792 0 17065792 234100 17983995 18218095 35283887 PART V, LINE 4: BOARD-DESIGNATED, UNRESTRICTED ENDOWMENT FUNDS ARE INTENDED FOR SCHOOL'S OPERATIONS AND DRAWS ARE MADE ACCORDING TO THE SCHOOL'S SPENDING POLICY. PERMANENTLY RESTRICTED ENDOWMENT FUNDS ARE HELD BY THE SCHOOL IN PERPETUITY, IN ACCORDANCE WITH DONOR INTENT. PART X, LINE 2: INCOME NOT RELATED TO THE COLLEGE'S TAX-EXEMPT PURPOSE MAY BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA IMPOSE A THRESHOLD FOR DETERMINING WHEN AN INCOME TAX BENEFIT CAN BE RECOGNIZED IN REGARD TO UNCERTAIN TAX POSITIONS. THE COLLEGE HAS DETERMINED THAT NO LIABILITY FOR UNCERTAIN TAX POSITIONS IS REQUIRED TO BE ACCRUED AND INCLUDED IN THE STATEMENTS OF FINANCIAL POSITION AS OF JUNE 30, 2019 AND 2018. PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANTS AND OTHER ASSISTANCE -NETTED WITH REVENUE ON THE FINANCIAL STATEMENTS 17,983,995. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS AND OTHER ASSISTANCE -NETTED WITH REVENUE ON THE FINANCIAL STATEMENTS 17,983,995. 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 COLLEGE PUBLICIZES ITS RACIALLY NONDISCRIMINATORY POLICY IN ITS ACADEMIC CATALOG. THE CATALOG IS AVAILABLE TO ALL PARTS OF THE COMMUNITY IT SERVES VIA THE COLLEGE'S ONLINE DIGITAL MEDIA. SCHEDULE E, PART I, LINE 6 STUDENT FINANCIAL AID 1 SCHOLARSHIPS AND FINANCIAL AID AWARDED TO STUDENTS FOR TUITION AND HOUSING 1660 19719583 ACTUAL CASH VALUE OF REDUCTION FOR TUITION, FEES, AND HOUSING. REDUCTION IN TUITION, FEES, AND HOUSING. PART I, LINE 2: THE COLLEGE'S PROCEDURES FOR MONITORING THE USE OF SCHOLARSHIPS AND FINANCIAL AID AWARDED TO STUDENTS ARE BASED UPON THE GUIDELINES PROVIDED BY THE U.S. DEPARTMENT OF EDUCATION. 1 X X 0 0 0 0 0 0 0 0 0 GARY WIRT PRESIDENT 375000 0 112700 0 14266 0 27225 0 6900 0 536091 0 0 0 KRISTINE SANTOMAURO EXECUTIVE VICE PRESIDENT 279709 0 77757 0 414 0 27225 0 17548 0 402653 0 0 0 ALISON WHITE VP FOR ACADEMIC AFFAIRS 162045 0 11176 0 1188 0 15457 0 17548 0 207414 0 0 0 EMILY JACKSON ILYAS DEAN 145733 0 26775 0 1188 0 15364 0 13939 0 202999 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FOLLOWING PROCESS WILL BE USED TO ALLOW THE TRUSTEES TO REVIEW THE FORM 990 PRIOR TO ITS SUBMISSION: 1) THE AUDITOR SUBMITS RECOMMENDED COMPLETED FORM 990 TO THE VICE PRESIDENT (VP) FOR REVIEW. 2) UPON THE VP'S APPROVAL OF THE COMPLETED FORM 990, THE VP ELECTRONICALLY SENDS THE RECOMMENDED COPY TO THE FULL BOARD ASKING THEM TO REVIEW THE FORM AND GET BACK TO THE VP BY A DESIGNATED DATE WITH ANY QUESTIONS THEY HAVE. 3) IF QUESTIONS ARE RECEIVED FROM THE TRUSTEES, THE VP IS RESPONSIBLE FOR OBTAINING THE ANSWERS AND REPLYING TO THE TRUSTEES PROMPTLY. 4) ONCE ALL TRUSTEE QUESTIONS HAVE BEEN ANSWERED, THE VP WILL SIGN THE FORM 990 AND INITIATE THE ELECTRONIC SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C EACH TRUSTEE IS REQUIRED TO REVIEW THE CONFLICT OF INTEREST POLICY AND SIGN A STATEMENT ACKNOWLEDGING THEIR UNDERSTANDING AND COMPLIANCE WITH THE POLICY. UNDER THE COLLEGE'S PERSONNEL POLICY MANUAL, PAID OFFICERS AND ALL OTHER EMPLOYEES ARE ADVISED TO AVOID ANY POTENTIAL CONFLICTS OF INTEREST AND ARE REQUIRED TO NOTIFY THE COLLEGE IMMEDIATELY SHOULD ANY SUCH CONFLICTS ARISE. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMPENSATION PROCESS IS USED TO DETERMINE THE ANNUAL COMPENSATION FOR THE PRESIDENT, THE VICE PRESIDENTS, AND ANY OTHER KEY EMPLOYEE EARNING MORE THAN $150,000 PER YEAR AT GOLDEY-BEACOM COLLEGE. PRESIDENT - THE CHAIRMAN OF THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES, WHO IS ALSO ALWAYS THE CHAIR OF THE FULL BOARD, REVIEWS AND DETERMINES THE ANNUAL COMPENSATION OF THE PRESIDENT OF THE COLLEGE. IN HIS/HER DELIBERATIONS, THE CHAIRMAN GENERALLY CONSULTS WITH THE OTHER INDEPENDENT MEMBERS OF THE BOARD'S EXECUTIVE COMMITTEE. THE CHAIRMAN AND ALL OTHER MEMBERS OF THE COMMITTEE, EXCLUDING THE PRESIDENT, ARE ALWAYS INDEPENDENT INDIVIDUALS WHO MUST NOT DRAW ANY BENEFITS FROM THE COLLEGE. THEY ARE ALSO REQUIRED TO SIGN A WRITTEN NO-CONFLICT-OF-INTEREST DECLARATION FOR THE RECORD. IN DETERMINING THE ANNUAL COMPENSATION OF THE PRESIDENT, THE CHAIRMAN AND HIS/HER ASSOCIATES NORMALLY TAKE INTO CONSIDERATION THE WIDELY REPORTED AND PUBLISHED DATA OF PRESIDENTIAL COMPENSATION IN SUCH PUBLICATIONS AS THE CHRONICLE OF HIGHER EDUCATION AND THE COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION FOR HUMAN RESOURCES (CUPA-HR). AFTER FINALIZING THE DECISION, THE CHAIRMAN COMMUNICATES IT TO THE PRESIDENT IN A MEETING. VICE PRESIDENTS/KEY EMPLOYEES EARNING MORE THAN $150,000 PER YEAR - THE PRESIDENT OF THE COLLEGE INITIATES THE REVIEW OF THE COMPENSATION OF THE VICE PRESIDENTS AND ALL KEY EMPLOYEES WHO EARN MORE THAN $150,000 PER YEAR. IN HIS/HER REVIEW, THE PRESIDENT TAKES INTO CONSIDERATION THE COMPENSATION DATA PUBLISHED BY THE COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION FOR HUMAN RESOURCES (CUPA-HR). BASED ON THE COMPENSATION DATA AND THE PERFORMANCE OF THE EMPLOYEES MAKING MORE THAN $150,000, THE PRESIDENT REVIEWS AND DETERMINES THE NEW COMPENSATION FOR THESE EMPLOYEES FOR THE SUBSEQUENT YEAR. AFTER CONSULTING WITH THE CHAIRMAN OF THE BOARD OF TRUSTEES, THE PRESIDENT COMMUNICATES THE DECISION TO THE RELEVANT EMPLOYEES ON THEIR NEW COMPENSATION IN FORMAL MEETINGS. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE'S ANNUAL AUDIT REPORT IS AVAILABLE IN THE COLLEGE LIBRARY. WHEN A SPECIFIC REQUEST IS RECEIVED FOR A COPY OF THE AUDIT OR FORM 990, A COPY IS SUPPLIED. ALSO, THE COLLEGE'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC FOR REVIEW UPON REQUEST. THE CURRENT MISSION AND PHILOSOPHY STATEMENT ARE AVAILABLE ON THE COLLEGE WEBSITE AT WWW.GBC.EDU.