2019-04-05T16:00:08-05:00 2018-05-31 350921680 CROWE LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2017-06-01 350868158 THE CORPORATION OF SAINT MARY'S COLLEGE NOTRE DAME CORP 5742844553 153 LEMANS HALL NOTRE DAME IN 465565001 Dana Strait VP for Strategy and Finance 2019-04-05 true NICOLE BENCIK P00756195 3128997000 2017 2019-02-21 02:37:17Z Nancy Nekvasil 153 LEMANS HALL NOTRE DAME IN 465565001 123642223 false 0928 X www.saintmarys.edu X 1972 IN The Corporation of Saint Mary's College, Notre Dame promotes a life of intellectual vigor, aesthetic appreciation, religious sensibility, and social responsibility. Saint Mary's is a Catholic, residential women's college in the liberal arts tradition offering undergraduate degrees and co-educational graduate programs. A pioneer in the education of women, the College is an academic community where students develop their talents and prepare to make a difference in the world. 34 31 1559 125 233841 -190394 10784086 13853705 77896582 77355918 11165547 14291091 867241 1460435 100713456 106961149 32031165 33558443 0 0 35440108 36839660 0 0 2550669 24390063 26206960 91861336 96605063 8852120 10356086 329590551 341627305 71864325 65135977 257726226 276491328 The Corporation of Saint Mary's College, Notre Dame (Saint Mary's) is a Catholic, residential, women's college in the liberal arts tradition offering undergraduate degrees and co-educational graduate programs. (Continued in Schedule O) false false 86073125 33558443 77329247 AS A CENTER OF HIGHER EDUCATION, THE CORPORATION OF SAINT MARY'S COLLEGE, NOTRE DAME (SAINT MARY'S) FOSTERS AN ACADEMIC CLIMATE OF SCHOLARSHIP AND LEARNING FOR FACULTY AND STUDENTS ALIKE. THROUGH EXCELLENCE IN TEACHING AND THE EXAMPLE OF ITS OWN ACTIVE SCHOLARSHIP, THE FACULTY CHALLENGES STUDENTS TO EXPAND THEIR HORIZONS AND SUPPORTS THEM IN THEIR INTELLECTUAL PURSUITS. A BROAD-BASED COURSE OF STUDY INVITES STUDENTS TO THINK CRITICALLY AND CREATIVELY ABOUT THE NATURAL WORLD AND HUMAN CULTURE. ACKNOWLEDGING THE NEED TO PREPARE WOMEN FOR AN ARRAY OF CAREERS, SAINT MARY'S INSISTS ON A LIBERAL ARTS FOUNDATION FOR ALL ITS STUDENTS. THROUGH THEIR YEARS AT SAINT MARY'S, STUDENTS ACQUIRE DEPTH AND BREADTH OF KNOWLEDGE, COMPETENCE IN QUANTITATIVE SKILLS AND MODERN LANGUAGES, THE ABILITY TO THINK CLEARLY ABOUT COMPLEX PROBLEMS, AND THE CAPACITY TO COMMUNICATE WITH PRECISION AND STYLE. (CONTINUED IN SCHEDULE O) 86073125 true true false true false false true false true true true false false true true true false true true true false true false false false false false true true true false false false false false false true false true false true false false false false true false false false true 1997 0 1559 true true true true EI IT CJ false false false false true false false false X 34 31 false false true false false true false true true false false true true true true true true true true false CA CO DC IN MD MA MI OK RI SC X JAMES H HERSCHEL 5742844553 153 LEMANS HALL NOTRE DAME IN 46556 Janice A Cervelli President 50.0 X X 368216 0 33055 MARY L BURKE Chair 2.0 X X 0 0 0 THOMAS E BLACK JR Vice Chair 2.0 X X 0 0 0 BETH LICHTENFELS VEIHMEYER Secretary 2.0 X X 0 0 0 Michael Schmitt Treasurer 2.0 X X 0 0 0 Angela McDonald-Fisher Trustee 2.0 X 0 0 0 ANNE MEAGHER NORTHUP TRUSTEE 2.0 X 0 0 0 CARMELA LAGAMBINA-LOCKWITZ STUDENT TRUSTEE 2.0 X 1290 0 0 CATHERINE HAMMEL FRISCHKORN Trustee 2.0 X 0 0 0 DAVID L TAICLET Trustee 2.0 X 0 0 0 Delia Garcia Trustee 2.0 X 0 0 0 FR STEPHEN KATSOUROS SJ TRUSTEE 2.0 X 0 0 0 GRETCHEN FLICKER Trustee 2.0 X 0 0 0 Kelly O'Shea Carney Trustee 2.0 X 0 0 0 Mary Pat Seurkamp Trustee 2.0 X 0 0 0 Maureen Karnatz Smith Trustee 2.0 X 0 0 0 MICHAEL E CAHILL Trustee 2.0 X 0 0 0 MICHAEL J MATHILE TRUSTEE 2.0 X 0 0 0 MICHAEL R LEEP SR Trustee 2.0 X 0 0 0 MONSIGNOR KENNETH VELO Trustee 2.0 X 0 0 0 PATRICIA WIEDNER PURCELL Trustee 2.0 X 0 0 0 Reverend Paul Kollman CSC Trustee 2.0 X 0 0 0 Sean T Klimczak Trustee 2.0 X 0 0 0 SISTER ALMA MARY ANDERSON CSC TRUSTEE 2.0 X 0 0 0 SISTER JUDITH HALLOCK CSC Trustee 2.0 X 0 0 0 SISTER KATHLEEN REILLY CSC Trustee 2.0 X 0 0 0 Sister Marilyn Zugish CSC Trustee 2.0 X 0 0 0 SISTER MARY ANN PAJAKOWSKI CSC Trustee 2.0 X 0 0 0 SISTER MARY LOUISE FULL CSC Trustee 2.0 X 0 0 0 SISTER VERONICA A FAJARDO CSC TRUSTEE 2.0 X 0 0 0 SISTER VERONIQUE WIEDOWER CSC Trustee 2.0 X 0 0 0 Susan B Olney Latham Professor/Trustee 50.0 X 94050 0 7201 William H Schmul Jr Trustee Emeritus 2.0 X 0 0 0 WILLIAM W CUSHWA Trustee 2.0 X 0 0 0 Judy Fean VP For Mission 50.0 X 101928 0 16530 KAREN A JOHNSON VP FOR STUDENT AFFAIRS 50.0 X 118044 0 18622 MONA BOWE VP FOR ENROLLMENT MANAGEMENT 50.0 X 134707 0 29922 NANCY NEKVASIL Provost and Senior VP for Academic Affairs 50.0 X 140455 0 19098 PATRICIA A FLEMING Provost and Senior VP for Academic Affairs (Retired 6/30/2017) 50.0 X 168795 0 35309 SHARON M RODRIGUEZ VP FOR COLLEGE RELATIONS 50.0 X 154427 0 22813 Susan K Bolt VP of Finance and Administration (through 5/9/2018) 50.0 X 164445 0 33016 GEORGE Q KEEGAN SPECIAL ASSISTANT TO THE PRESIDENT FOR STRATEGIC INITIATIVES 50.0 X 164857 0 10880 LINDA S PASKIEWICZ DIRECTOR OF NURSING/PROFESSOR 50.0 X 143538 0 20254 Vicki Hess Dean of Faculty 50.0 X 114133 0 28725 Joseph Incandela Professor 50.0 X 104994 0 27102 ARTHUR WAGER ASSISTANT VICE PRESIDENT INTEGRATED MARKETING 50.0 X 101362 0 23841 CAROL ANN MOONEY Former President 0.0 0.0 X 145919 0 0 2221160 0 326368 19 true true false Weigand Construction Co Inc 7808 Honeywell Drive Fort wayne IN 46825 Construction 9494773 SODEXO 90 SOUTH HIGH STREET DUBLIN OH 43017 FOOD SERVICE 3698213 OTIS ELEVATOR COMPANY PO BOX 73759 CHICAGO IL 606737579 ELEVATOR SERVICES 363161 JJ WHITE INC 5500 BINGHAM STREET PHILADELPHIA PA 19120 CONSTRUCTION SERVICES 319836 Royall & Company 1920 East Parham Road Richmond VA 23228 Enrollment Management Services 224288 18 X 1000 1021240 12831465 1704612 13853705 Student tuition and fees 611710 62494491 62494491 Room and board 611710 14291811 14291811 Camps/events & conferences/athletics 713990 569616 446489 123127 0 0 0 0 77355918 1279335 57176 1222159 838 838 36959 36959 0 36959 36959 29685380 7450 16681074 0 13004306 7450 13011756 53538 12958218 Vending/food services 721000 316275 316275 Commissions and Other Fees 721000 76894 76894 Performing arts/choir/speech 900099 96456 96456 933013 0 0 933013 1422638 106961149 77329247 233841 15544356 0 0 33535543 33535543 22900 22900 0 0 1617144 811816 627079 178249 16431 16431 0 0 25429400 21568809 2606930 1253661 1907401 1610156 204974 92271 6021286 5056611 674063 290612 1847998 1539492 212528 95978 0 0 0 0 53059 14700 38359 0 178308 0 178308 0 0 0 0 0 0 0 45676 0 45676 0 7496037 6135720 1131101 229216 355248 192847 46359 116042 2642524 2345399 204923 92202 0 0 0 0 0 0 0 0 2884893 2526931 326485 31477 836760 680469 88019 68272 0 0 0 0 324813 304458 14663 5692 2286791 2065900 216101 4790 0 0 0 0 5347772 4935993 396270 15509 467954 0 460860 7094 Foreign Programs 2246923 2246923 0 0 Memberships and Dues 195468 93314 78564 23590 Bad Debts 172850 0 172850 0 Faculty and staff development 164057 74415 89642 0 507827 294298 167515 46014 96605063 86073125 7981269 2550669 0 0 0 0 2775 2775 18183681 6438694 5782883 4970522 3036479 4364369 440212 0 0 0 1361728 1371970 4688 7114 691800 441388 217048124 101403804 109610918 115644320 517100 3477 188855281 206419329 0 1103006 1963347 329590551 341627305 11978865 8952385 1216318 1361471 3343630 3278353 48448860 46661234 0 0 5263138 3331634 1613514 1550900 71864325 65135977 X 136113211 146224385 51376836 55639341 70236179 74627602 0 0 0 257726226 276491328 329590551 341627305 X 10356086 6943693 1465323 X false true X true true true X 18080478 16472976 15959420 10651686 13853705 75018265 0 0 0 0 0 0 0 0 0 0 0 0 18080478 16472976 15959420 10651686 13853705 75018265 14146557 60871708 2573382 2392439 1635032 2174240 1259956 10035049 0 0 0 0 0 0 1085253 1310204 1692743 1281147 1326182 6695529 91748843 362371673 0.6635 0.6544 X Schedule A, Part II, Line 10 Other Income DESCRIPTION - GROSS INCOME FROM FUNDRAISING EVENTS, COLUMN A - 48200.0, COLUMN B - 0.0, COLUMN C - 0.0, COLUMN D - 22600.0, COLUMN E - 0.0, COLUMN F - 70800.0; DESCRIPTION - COPIERS/PRINTING/LOFTS/PARKING/COMMISSIONS/OTHER FEES, COLUMN A - 168114.0, COLUMN B - 121230.0, COLUMN C - 102780.0, COLUMN D - 97419.0, COLUMN E - 76894.0, COLUMN F - 566437.0; DESCRIPTION - LAUNDRY/VENDING/OTHER FOOD SERVICES, COLUMN A - 289114.0, COLUMN B - 286115.0, COLUMN C - 234876.0, COLUMN D - 279689.0, COLUMN E - 316275.0, COLUMN F - 1406069.0; DESCRIPTION - PERFORMING ARTS/CHOIR, COLUMN A - 14151.0, COLUMN B - 17882.0, COLUMN C - 50346.0, COLUMN D - 32331.0, COLUMN E - 0.0, COLUMN F - 114710.0; DESCRIPTION - MISCELLANEOUS REVENUE, COLUMN A - 565674.0, COLUMN B - 884977.0, COLUMN C - 1304741.0, COLUMN D - 849108.0, COLUMN E - 933013.0, COLUMN F - 4537513.0; false false false false false false false false true 0 0 false Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY THE ORGANIZATION PAYS DUES TO THE NATIONAL ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES AND TO INDEPENDENT COLLEGES OF INDIANA. A PORTION OF THOSE DUES IS USED FOR LOBBYING. Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY THE ORGANIZATION PAYS DUES TO THE NATIONAL ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES AND TO INDEPENDENT COLLEGES OF INDIANA. A PORTION OF THOSE DUES IS USED FOR LOBBYING. 0 401690 X X false 177882580 4262713 19760162 7517794 194387661 165662259 2561172 16892981 7233832 177882580 164905606 5618843 1908523 6770713 165662259 148102212 8110863 15367885 6675354 164905606 135423133 2223722 17056528 6601171 148102212 0.4139 0.3633 0.2228 true false 8910413 8910413 166025039 65301552 100723487 6664728 3776570 2888158 35046254 32325682 2720572 401690 0 401690 115644320 Beneficial interest in community foundation & perpetual trusts 1889873 F Alternative investments 8932640 F RELIGIOUS AFFILIATE ENDOWMENT FUND POOL 191850133 F Catholic Endowment Fund 3746683 F 206419329 Advances for federal student loans 1550900 Capital lease obligations 0 1550900 X 81811722 6943693 1465323 8409016 73402706 33558443 33558443 106961149 63046620 0 0 63046620 33558443 33558443 96605063 Schedule D, Part III, Line 4 Collections of art - description of collections The organization's collections of art consist primarily of donated works of art that are on display in public spaces. These works of art are intended to provide a welcoming environment for students, faculty, and visitors, which is in line with the organization's mission. The organization also maintains a collection of rare historical books, which further the organization's religious and educational mission. Schedule D, Part V, Line 4 Intended uses of endowment funds the purpose of the endowment fund is to provide funds to underwrite the educational needs of current and future generations of students while enhancing the well being of the college. To satisfy its long-term rate-of-return objectives, the college combines the goal of total return and preservation of capital with prudent risk tolerance in order to allow investment managers the opportunity to achieve investment results consistent with the financial objectives of the endowment fund and in a manner consistent with the Catholic values of the college. The college targets diversified asset allocation in order to manage downside volatility and risk while achieving the endowment's return objectives. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The Internal Revenue Service has determined that the College is a tax exempt, not-for-profit organization as defined in Section 501(c)(3) of the Internal Revenue Code ("IRC"). As such, the College is generally not subject to federal or state income taxes except for certain income derived from unrelated business activities as defined by the IRC. Any such taxes resulting from unrelated business activities are insignificant to the operations of the College. U.S. GAAP prescribes recognition thresholds and measurement attributes for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Tax benefits will be recognized only if the tax position is more-likely-than-not to be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized will be the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the more-likely-than-not test, no tax benefit will be recorded. Management has concluded that they are unaware of any tax benefits or liabilities to be recognized at May 31, 2018 and 2017. The College does not expect the total amount of unrecognized tax benefits to significantly change in the next 12 months. The College would recognize interest and penalties related to unrecognized tax benefits in interest and income tax expense, respectively. The College is unaware of any interest and penalties related to unrecognized tax benefits and no amounts have been accrued for interest or penalties as of May 31, 2018 and 2017. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 Postretirement benefit changes other than net periodic benefit cost - 1169790 Net periodic benefit cost - 295533 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements Scholarships - 33558443 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements Scholarships - 33558443 true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY The Policy is clearly outlined in the College's Statement of Philosophy and Purpose. This statement is included in the College's Bulletin and numerous other publications made available to students. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT THE ORGANIZATION RECEIVES FINANCIAL ASSISTANCE FROM GOVERNMENTAL AGENCIES IN THE FORM OF SCHOLARSHIP AND GRANT FUNDS FOR STUDENTS' TUITION AND RELATED EXPENSES. true Europe (Including Iceland and Greenland) 0 1 Program Services INTERNATIONAL STUDY ABROAD PROGRAMS 1902086 South America 0 0 Program Services INTERNATIONAL STUDY ABROAD PROGRAMS 99604 East Asia and the Pacific 0 0 Program Services INTERNATIONAL STUDY ABROAD PROGRAMS 244712 Sub-Saharan Africa 0 0 Program Services INTERNATIONAL STUDY ABROAD PROGRAMS 34424 Central America and the Caribbean 0 0 Investments 511724 Central America and the Caribbean 0 0 Program Services INTERNATIONAL STUDY ABROAD PROGRAMS 1716 0 1 0 0 0 1 2794266 0 2794266 NEED-BASED SCHOLARSHIPS Europe (Including Iceland and Greenland) 7 11150 CREDITED TO THEIR ACCOUNT 0 N/A N/A NEED-BASED SCHOLARSHIPS South America 4 7300 CREDITED TO THEIR ACCOUNT 0 N/A N/A NEED-BASED SCHOLARSHIPS East Asia and the Pacific 1 2200 CREDITED TO THEIR ACCOUNT 0 N/A N/A NEED-BASED SCHOLARSHIPS Sub-Saharan Africa 2 2250 CREDITED TO THEIR ACCOUNT 0 N/A N/A true false true true false false Schedule F, Part I, Line 2 Procedures for monitoring use of grant funds A list of scholarship recipients is on file at the institution and is available upon request. Although there may be recipients who are related to persons having an interest in the institution, such recipients are selected on an equal, objectively determinable basis with other recipients. Saint Mary's College is committed to making it possible for qualified students to enroll at the college regardless of financial circumstances. As part of this commitment, Saint Mary's College offers various levels of academic scholarships, need-based scholarships and institutional grants. Academic scholarship recipients are selected at the time of admission, on the basis of their academic achievements in high school. Need-based scholarships are named for a specific donor or group, and are awarded as part of need-based institutional grant assistance, in accordance with the specific requirements of the scholarship donor. Institutional grants are awarded primarily on financial need as the College is committed to making a Saint Mary's education a possibility for students who demonstrate financial need; each student who applies for financial aid receives consideration for grant assistance. All students receiving scholarships are judged worthy by the institution's assessment on the basis of academic achievement, financial need or other similar standards. Criteria for all scholarships is published and made available to all students and their families. Grant funds/scholarships are credited directly to a student's account to ensure they are used appropriately and for their intended purpose. Schedule F, Part I, Line 2 PROCEDURES FOR MONITORING USE OF GRANT FUNDS A list of scholarship recipients is on file at the institution and is available upon request. Although there may be recipients who are related to persons having an interest in the institution, such recipients are selected on an equal, objectively determinable basis with other recipients. Saint Mary's College is committed to making it possible for qualified students to enroll at the college regardless of financial circumstances. As part of this commitment, Saint Mary's College offers various levels of academic scholarships, need-based scholarships and institutional grants. Academic scholarship recipients are selected at the time of admission, on the basis of their academic achievements in high school. Need-based scholarships are named for a specific donor or group, and are awarded as part of need-based institutional grant assistance, in accordance with the specific requirements of the scholarship donor. Institutional grants are awarded primarily on financial need as the College is committed to making a Saint Mary's education a possibility for students who demonstrate financial need; each student who applies for financial aid receives consideration for grant assistance. All students receiving scholarships are judged worthy by the institution's assessment on the basis of academic achievement, financial need or other similar standards. Criteria for all scholarships is published and made available to all students and their families. Grant funds/scholarships are credited directly to a student's account to ensure they are used appropriately and for their intended purpose. true MERIT-BASED SCHOLARSHIPS 1392 20300516 0 N/A N/A NEED-BASED SCHOLARSHIPS 832 9402960 0 N/A N/A DONOR RESTRICTED SCHOLARSHIPS 506 3832067 0 N/A N/A Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. A list of scholarship recipients is on file at the institution and is available upon request. Although there may be recipients who are related to persons having an interest in the institution, such recipients are selected on an equal, objectively determinable basis with other recipients. Saint Mary's College is committed to making it possible for qualified students to enroll at the college regardless of financial circumstances. As part of this commitment, Saint Mary's College offers various levels of academic scholarships, need-based scholarships and institutional grants. Academic scholarship recipients are selected at the time of admission, on the basis of their academic achievements in high school. Need-based scholarships are named for a specific donor or group, and are awarded as part of need-based institutional grant assistance, in accordance with the specific requirements of the scholarship donor. Institutional grants are awarded primarily on financial need as the College is committed to making a Saint Mary's education a possibility for students who demonstrate financial need; each student who applies for financial aid receives consideration for grant assistance. All students receiving scholarships are judged worthy by the institution's assessment on the basis of academic achievement, financial need or other similar standards. Criteria for all scholarships is published and made available to all students and their families. Grant funds/scholarships are credited directly to a student's account to ensure they are used appropriately and for their intended purpose. X true true X X X true true false false false false false false false Janice A Cervelli President 306246 0 0 0 61970 0 27000 0 6055 0 401271 0 0 0 MONA BOWE VP FOR ENROLLMENT MANAGEMENT 134707 0 0 0 0 0 14012 0 15910 0 164629 0 0 0 NANCY NEKVASIL Provost and Senior VP for Academic Affairs 140455 0 0 0 0 0 12874 0 6224 0 159553 0 0 0 PATRICIA A FLEMING Provost and Senior VP for Academic Affairs (Retired 6/30/2017) 168795 0 0 0 0 0 17696 0 17613 0 204104 0 0 0 SHARON M RODRIGUEZ VP FOR COLLEGE RELATIONS 154427 0 0 0 0 0 15732 0 7081 0 177240 0 0 0 Susan K Bolt VP of Finance and Administration (through 5/9/2018) 164445 0 0 0 0 0 17106 0 15910 0 197461 0 0 0 GEORGE Q KEEGAN SPECIAL ASSISTANT TO THE PRESIDENT FOR STRATEGIC INITIATIVES 164857 0 0 0 0 0 3875 0 7005 0 175737 0 0 0 LINDA S PASKIEWICZ DIRECTOR OF NURSING/PROFESSOR 143538 0 0 0 0 0 13897 0 6357 0 163792 0 0 0 CAROL ANN MOONEY Former President 0 0 0 0 145919 0 0 0 0 0 145919 0 0 0 Schedule J, Part I, Line 1a Housing allowance or residence for personal use The President of the College is provided a housing allowance. This is reported on her W-2 as taxable compensation. Schedule J, Part I, Line 4a Severance or change-of-control payment CAROL ANN MOONEY, FORMER PRESIDENT, RECEIVED A CHANGE IN CONTROL PAYMENT IN THE AMOUNT OF $145,919. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan The fORMER College's President participateD in a supplemental nonqualified retirement plan as part of her employment agreement. There were no deferred contributions to or payments from the plan during calendar year 2017. A St Joseph County Indiana 356000194 790608EB5 2010-07-13 11830969 See Part VI false false false B St Joseph County Indiana 356000194 790608EL3 2011-11-22 9829932 See Part VI false false false C St Joseph County Indiana 356000194 790608FA6 2017-02-22 29513077 see part VI false false false A 2620000 0 11831874 0 0 0 201219 0 0 7424829 4205826 0 2013 true false true true B 0 0 9830777 0 0 0 136350 0 0 6493821 3200606 0 2014 true false true true C 1315000 0 29513077 0 0 0 348487 0 0 0 29164590 0 2009 true false true true A false true false false 0.0 0.0 0.0 false false true B false false false false 0.0 0.0 0.0 false false true C false true false false 0.0 0.0 0.0 false false true A false false false true false false false false true B false false false true false false false false true C false false false false false false false true A true B true C true Schedule K, Part II, Line 3 Total proceeds of issue 2010 Bond Issue (column A): Bond proceeds - $11,830,969 Investment income on proceeds - $905 2011 Bond Issue (column B): Bond proceeds - $9,829,932 Investment income on proceeds - $845 2017 Bond Issue (column C): Bond proceeds - $29,513,077 Proceeds used for bond issuance cost - $348,487 Schedule K, Part I, Column (f) Description of Purpose 2010 Bond Issue (Row A): for acquisition, construction, expansion, renovation and equipping of College facilities and to refund a portion of 6/10/98 bond issue 2011 Bond Issue (Row B): for acquisition, construction, expansion, renovation and equipping of College facilities and to refund remaining portion of 6/10/98 bond issue 2017 Bond Issue (Row C): to refund remaining portion of 3/29/2007 bond issue Schedule K, Part III, Line 2 Lease arrangements (2010 & 2017 Bond issues) The College's lease arrangements are with its founding religious 501(c)(3) entity, the Congregation of the Sisters of the Holy Cross, for activities that do not result in unrelated business income to the College; therefore, the lease arrangements do not result in private business use. Schedule K, Part V Different Procedures to Undertake Corrective Action Issuer name: St. Joseph County, Indiana None Schedule K, Part IV, Line 2c COLUMN A Issuer name: St. Joseph County, Indiana The calculation for computing no rebate due was performed on 01/12/2016 Schedule K, Part V Different Procedures to Undertake Corrective Action Issuer name: St. Joseph County, Indiana None Schedule K, Part IV, Line 2c COLUMN B Issuer name: St. Joseph County, Indiana The calculation for computing no rebate due was performed on 01/12/2016 Schedule K, Part V Different Procedures to Undertake Corrective Action Issuer name: St. Joseph County, Indiana None SEE PART V SEE PART V 14000 MERIT-BASED SCHOLARSHIP Student Financial Assistance SEE PART V SEE PART V 8280 Residence Assistant Room Grant Student Financial Assistance VALERIE M EFTA no longer employed as of 6302017 FAMILY MEMBER OF CAROL ANN MOONEY, FORMER PRESIDENT 31623 SALARY AND BENEFITS false Schedule L, Part III GRANTS OR ASSISTANCE BENEFITING INTERESTED PERSONS PER THE IRS INSTRUCTIONS FOR SCHEDULE L, COLLEGES, UNIVERSITIES, AND PRIMARY AND SECONDARY SCHOOLS ARE NOT REQUIRED TO IDENTIFY INTERESTED PERSONS TO WHOM THEY PROVIDED SCHOLARSHIPS, FELLOWSHIPS, AND SIMILAR FINANCIAL ASSISTANCE. INSTEAD, THESE ORGANIZATIONS MUST GROUP EACH TYPE OF FINANCIAL ASSISTANCE PROVIDED TO INTERESTED PERSONS IN SEPARATE LINES. FOR EACH LINE, THE SCHOOL IS TO REPORT IN COLUMN (C) THE TYPE OF ASSISTANCE AND AGGREGATE DOLLAR AMOUNT OF THAT ASSISTANCE; COLUMNS (A) AND (B) ARE TO BE LEFT BLANK. X 139 1696584 Market value X Piano, Camera, TV 4 8028 Opinions of experts 1 false true false Schedule M, Part I Explanations of reporting method for number of contributions Securities - Publicly traded - number of contributions Other - Piano, Camera, TV Number of items. Form 990, Part III, Line 1 ORGANIZATION'S MISSION (CONTINUED FROM PART III) A PIONEER IN THE EDUCATION OF WOMEN, SAINT MARY'S IS AN ACADEMIC COMMUNITY WHERE WOMEN DEVELOP THEIR TALENTS AND PREPARE TO MAKE A DIFFERENCE IN THE WORLD. FOUNDED BY THE CONGREGATION OF THE SISTERS OF THE HOLY CROSS IN 1844, SAINT MARY'S PROMOTES A LIFE OF INTELLECTUAL VIGOR, AESTHETIC APPRECIATION, RELIGIOUS SENSIBILITY, AND SOCIAL RESPONSIBILITY. ALL MEMBERS OF SAINT MARY'S REMAIN FAITHFUL TO THIS MISSION AND CONTINUALLY ASSESS THEIR RESPONSE TO THE COMPLEX NEEDS AND CHALLENGES OF THE CONTEMPORARY WORLD. Form 990, Part III, Line 4a PROGRAM SERVICE ACCOMPLISHMENTS (CONTINUED FROM PART III) AS A CATHOLIC COLLEGE, SAINT MARY'S CULTIVATES A COMMUNITY OF INTELLECTUAL INQUIRY, LITURGICAL PRAYER, AND SOCIAL ACTION. SAINT MARY'S CREATES AN OPEN FORUM IN WHICH STUDENTS FREELY AND CRITICALLY STUDY THE RICH HERITAGE OF THE CATHOLIC TRADITION, RAISING THE QUESTIONS NECESSARY TO DEVELOP A MATURE RELIGIOUS LIFE. THE CELEBRATION OF LITURGY ENCOURAGES STUDENTS TO EXPLORE THE FULLNESS OF LIFE AND ITS MYSTERIES. SAINT MARY'S NURTURES AWARENESS AND COMPASSION FOR A TROUBLED WORLD AND CHALLENGES STUDENTS TO PROMOTE HUMAN DIGNITY THROUGHOUT THEIR LIVES. IN PREPARING WOMEN FOR ROLES OF LEADERSHIP AND ACTION, SAINT MARY'S PAYS PARTICULAR ATTENTION TO THE RIGHTS AND RESPONSIBILITIES OF WOMEN IN THE WORLDS OF WORK, CHURCH, COMMUNITY, AND FAMILY. DEDICATED TO THE PERSONAL AND SOCIAL GROWTH OF ITS STUDENTS, SAINT MARY'S CULTIVATES A COMMUNITY OF STUDENTS, FACULTY, AND STAFF, WHICH RESPONDS TO THE NEEDS OF WOMEN. IN ORDER TO OFFER THE RICHEST EDUCATIONAL EXPERIENCE POSSIBLE, SAINT MARY'S STRIVES TO BRING TOGETHER WOMEN OF DIFFERENT NATIONS, CULTURES, AND RACES. IT PROVIDES A RESIDENTIAL ENVIRONMENT WHERE WOMEN GROW IN THEIR APPRECIATION OF THE STRENGTHS AND NEEDS OF OTHERS. THROUGH A HOST OF CO-CURRICULAR PROGRAMS ON CAMPUS AND IN THE LOCAL COMMUNITY, SAINT MARY'S INITIATES STUDENTS IN THE HABITS OF CIVIC RESPONSIBILITY. ENGAGING IN ALL ASPECTS OF THE COLLEGE EXPERIENCE, STUDENTS ACQUIRE THE HALLMARKS OF A LIBERALLY EDUCATED WOMAN: KEEN SELF-KNOWLEDGE, LIVELY IMAGINATION, LIFELONG INTELLECTUAL AND CULTURAL INTERESTS, AND THE ABILITY TO MAKE SOCIALLY RESPONSIBLE CHOICES ABOUT THE FUTURE. CALLED INTO BEING IN RESPONSE TO THE PETITIONS OF PARENTS WHO DESIRED A CHRISTIAN EDUCATION FOR THEIR DAUGHTERS, SAINT MARY'S HAS MET THE RECOGNIZED NEEDS OF EACH GENERATION OF STUDENTS. THEN, AS NOW, A STRONG BACKGROUND IN THE LIBERAL ARTS WAS DEEMED ESSENTIAL FOR WOMEN WHO WERE EDUCATED TO ASSUME LEADERSHIP ROLES IN THE RELIGIOUS, SOCIAL AND ECONOMIC STRUCTURES OF THEIR DAY. TODAY SAINT MARY'S CONTINUES TO FULFILL ITS ONGOING MISSION OF A CATHOLIC WOMEN'S COLLEGE DEDICATED TO THE TOTAL DEVELOPMENT OF ITS STUDENTS. DURING THE FISCAL YEAR ENDED MAY 31, 2018, SAINT MARY'S HAD AN UNDERGRADUATE POPULATION OF 1,496 STUDENTS DURING THE FALL SEMESTER AND 1,446 STUDENTS DURING THE SPRING SEMESTER. THE FALL 2017 SEMESTER SAW THE THIRD YEAR OF GRADUATE PROGRAMS AT SAINT MARY'S. THE COLLEGE HAD A GRADUATE POPULATION OF 106 STUDENTS DURING THE FALL SEMESTER AND 98 STUDENTS DURING THE SPRING SEMESTER. Form 990, Part VI, Line 1a Material differences in voting rights Upon recommendation of the trusteeship committee, trustees who have served with distinction for at least two (2) terms may be elected by the majority of the Board as Trustees Emeriti/Emeritae. Terms shall be three (3) years and shall be renewable for a total of two (3) three-year terms, provided the number of trustees Emeriti/Emeritae does not exceed one-third (1/3) of the total number of Trustees. Except for the Executive Committee and trusteeship Committee, Trustees Emeriti/Emeritae shall be eligible to serve on Board committees, with vote, and shall speak freely at all Board and committee meetings. Trustees Emeriti/Emeritae shall not have voting privileges at board meetings and shall not be counted as part of quorum determinations. Trustees Emeriti/Emeritae shall be sent notices and minutes of all board meetings and shall be encouraged to attend Board meetings or otherwise accept special assignments by the board. Form 990, Part VI, Line 1a Delegate broad authority to a committee Each committee shall have both a Chair and a Vice Chair. The Vice Chair is authorized to conduct a committee meeting in the absence of the Committee Chair. Each committee shall have a written statement of rules and procedure or policy guidelines that it and the Board deem appropriate. Such statements shall be reviewed annually by each committee and the result of such review shall be reported to the Board at its next meeting. Each committee shall conduct its work in a manner consistent with the Catholic identity and mission of the College. Committees may hold an executive session at the end of any meeting if either necessary or desirable. Executive sessions shall include only those members who are voting committee members. As soon as possible after the executive session the Chair (or Vice Chair in the absence of the Chair) will report to the Chair of the Board and the President on the matters discussed or motions approved during the meeting and in executive session. With the exception of the Executive Committee or except as otherwise provided in the College's bylaws, no standing or ad hoc committee shall have the power to act on behalf of the board. The Executive Committee shall include among its membership the Chair (who shall act as Chair of this committee), the President, a Class One trustee (as defined in the corporation's bylaws), the Vice Chair, Secretary and Treasurer of the Board, and the Chairs of the standing committees. If at least three (3) members of this committee are not trustees who are members of the Congregation, the Chair shall appoint additional Trustee members of the Congregation sufficient to bring the Congregation representation to three (3). The Executive Committee shall act as the Board's agent in helping the President address matters of business between regular board meetings and assist the Chair and the President in their joint responsibility to held the Board to function effectively and efficiently by suggesting Board meeting agenda items and periodically assessing the quality of committee work. It shall have the authority to take action on emergency matters which cannot or should not be deferred to the Board's next scheduled meeting. In order to protect the assets of the corporation, the Executive Committee shall receive reports from the Corporation's legal counsel concerning such actual, impending, or potential litigation involving the corporation or which might involve the corporation, as counsel is from time to time made aware. The Executive Committee shall oversee the work of the Board committees, the College's planning process and its progress on planning goals. The Executive Committee shall participate in the evaluation of the President's performance. The Executive Committee shall have authority to act for the Board on all matters except for the following, which shall be reserved to the Board: A) Selection and termination of the President; B) Selection of the Trustees and Officers of the Board; C) Changes in institutional mission and purposes; D) Amendments of the Articles of Incorporation or Bylaws; E) Incurring of corporate indebtedness; F) Authorizing the selling, leasing, buying, or mortgaging of real estate or buildings owned by the Corporation; G) Merging or affiliating (which changes governance or identity of the College) the Corporation or the College with another corporation or college; H) Adoption of the annual budget; I) Conferral of degrees; J) Other powers reserved to the Board, from time to time by the Board. All actions of the Executive Committee shall be subject to ratification at the next Board meeting. Minutes of the meetings of the Executive Committee shall be taken and all items on which the Committee has taken action shall be submitted to the Board at its next succeeding meeting for ratification, but failure to submit such action items or to receive ratification shall not invalidate any action taken by the College upon authorization by the Executive Committee Form 990, Part VI, Line 4 Significant changes to organizational documents On April 20, 2018 the organization's By-Laws were amended, including the following significant changes: - In Article 6.10, the regular meetings of the Board were updated to include a Winter meeting to elect the Chair. The Board will still have a Spring meeting to elect the other trustees and officers and at least two other meetings each calendar year per the By-Laws. - In Article 8.2, the By-Laws were updated to reflect that a one-time extension, up to two years, can be made to allow experienced and willing Trustees to fulfill a three-year officer term. - In Article 14.1, the By-Laws surrounding the Conflict of Interest rules were updated to include non-Trustee committee members in addition to trustees. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body Saint Mary's College was founded by The Congregation of the Sisters of the Holy Cross (The Congregation) in 1844. In 1994 the congregation passed the governance of the College to the board of trustees. The congregation retained the right to appoint three members of the board of trustees. In addition to the appointed members, seven other members of the board of trustees must be from the congregation or other Roman Catholic religious congregations. Form 990, Part VI, Line 11b Review of form 990 by governing body The organization's management reviews a draft of the Form 990 in detail. A final draft of the full form 990, including all applicable schedules, is then reviewed with our tax advisors and approved by the Audit Committee. A copy is also supplied to each Board member for their review prior to its filing with the IRS. Form 990, Part VI, Line 12c Conflict of interest policy ANNUAL DISCLOSURE QUESTIONNAIRES ARE PROVIDED TO EACH BOARD OF TRUSTEE MEMBER. ONCE THE QUESTIONNAIRES ARE COMPLETED THE RESPONSES ARE REVIEWED AND IT IS DETERMINED WHETHER OR NOT THERE ARE ANY POTENTIAL CONFLICTS OF INTEREST. IF AN ACTUAL CONFLICT OF INTEREST IS DETERMINED TO EXIST, THAT MEMBER IS EXCLUDED FROM ANY DISCUSSIONS CONCERNING THE CONFLICTING ISSUE AND IS NOT PERMITTED TO VOTE ON ANY DECISIONS REGARDING THE CONFLICTING ISSUE. ALL OFFICERS OF THE COLLEGE, ALL EMPLOYEES WORKING IN THE FINANCIAL AID AND BUSINESS OFFICES, AND ALL EMPLOYEES AUTHORIZED TO SIGN FOR EXPENDITURES, ACTING AS PRINCIPALS ON GRANTS OR INVOLVED IN MAKING PURCHASES ON BEHALF OF THE COLLEGE ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE FORM. THE FORMS ARE REVIEWED BY THE DIRECTOR OF PURCHASING; IF THERE IS A POTENTIAL CONFLICT OF INTEREST THE VICE PRESIDENT OF FINANCE AND ADMINISTRATION REVIEWS THE CORRESPONDING ISSUE AND DETERMINES IF THERE IS AN ACTUAL CONFLICT OF INTEREST. IF AN ACTUAL CONFLICT OF INTEREST IS DETERMINED TO EXIST, THAT PERSON IS EXCLUDED FROM ANY DECISIONS OR ACTIONS REGARDING THE CONFLICTING ISSUE. Form 990, Part VI, Line 15a Process to establish compensation of top management official In fiscal year 2018, the president was serving under a five-year contract that began June 1, 2018 and had an expiration date of May 31, 2021 that was APPROVED BY THE BOARD AND DOCUMENTED IN MEETING MINUTES. THE PROCESS FOR DETERMINING THE COMPENSATION OF THE ORGANIZATION'S PRESIDENT INCLUDED A REVIEW AND APPROVAL BY THE BOARD OF TRUSTEES, WHICH CONSISTS OF INDEPENDENT PERSONS. THE BOARD OF TRUSTEES USED COMPARABILITY WITH PEER DATA AS PUBLISHED IN THE CHRONICLE OF HIGHER EDUCATION AND OTHER AVAILABLE DATA FROM HIGHER EDUCATION INSTITUTIONS TO DETERMINE THE AMOUNT OF COMPENSATION. AS PART OF THE PRESIDENT'S CONTRACT THE PRESIDENT'S SALARY SHALL BE REVIEWED ANNUALLY BY THE BOARD AND PRESIDENT WILL BE ENTITLED TO RECEIVE AN ANNUAL INCREASE IN AN AMOUNT EQUAL TO AT LEAST THE INCREMENTAL AVERAGE SALARY PERCENTAGE INCREASES FOR SAINT MARY'S CABINET AND PRESIDENT. HOWEVER, NO ADDITIONAL INCREASE TO PRESIDENT'S SALARY SHALL OCCUR WITHOUT APPROVAL OF THE BOARD, AS REQUIRED IN THE BYLAWS. DURING THE TERM OF EMPLOYMENT, PRESIDENT'S ANNUAL SALARY MAY BE INCREASED BUT NOT DECREASED. Form 990, Part VI, Line 15b Process to establish compensation of other employees The Director of Human Resources compiled salary and benefit data for the positions of Senior VP & Provost; Vice President of Finance & Administration; Vice President of College Relations; Vice President of Student Affairs; Vice President for Enrollment Management; and the Vice President of Mission. The information documents the salaries of those in similar positions at comparable Colleges. The compensation committee of the Board of Trustees reviews and approves the compensation recommendations of the President for the above named officers. The study prepared by the Director of Human Resources is provided to the Chair of the Board of Trustees as supporting documentation for the committee's discussion. The results of the deliberation process were documented in the minutes of the meeting held in April 2018. All of the persons in those positions received the 2% general increase effective 6/1/17 that was provided to faculty and staff of the College. Form 990, Part VI, Line 19 Required documents available to the public Governing documents, conflict of interest policies, and financial statements are not required disclosures pursuant to Internal Revenue Code (IRC) Sec. 6104. These documents are not available to the public at this time. Form 990, Part VII, Section A Compensation of Interested Persons Eight sisters who are members of the Congregation of the Sisters of the Holy Cross (Congregation) are members of the board of trustees of the College. These individuals are listed below: SISTER VERONIQUE WIEDOWER, CSC Sister Mary Ann Pajakowski, CSC Sister Judith Hallock, CSC Sister Kathleen Reilly, CSC Sister Veronica A. Fajardo, CSC Sister Mary Louise Full, CSC Sister Alma Mary Anderson, CSC Sister Marilyn Zugish, CSC Three Sisters who are members of the Congregation serve in other positions at the College. The Congregation is paid for their services to the College in lieu of salary and benefit payments to the Sisters. The payments are comparable to that of what lay employees in similar positions would receive. Form 990, Part VIII, Line 11d Other Miscellaneous Revenue Other Revenue - Total Revenue: 933013, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 933013; Form 990, Part XI, Line 9 Other changes in net assets or fund balances POSTRETIREMENT BENEFIT CHANGES OTHER THAN NET PERIODIC BENEFIT COST - 1169790; CHANGES IN POSTRETIREMENT NET PERIODIC BENEFIT COST - 295533; SISTER MARIA PIETA SCOTT CSC SCHOLARSHIP TRUST C/O SPRING VALLEY BANK PO BOX 830 JASPER IN 47547 351769494 GRANT-GIVING IN 501(c)(3) PF NA false Charitable Remainder Trusts (2) Charitable Remainder Trusts N/A Trust false false true false false false false false false false false false false false false false false false false