2019-04-11T16:06:45-05:00 2018-05-31 232226550 MCGRAIL MERKEL QUINN & ASSOCIATES PC 1173 CLAY AVENUE SCRANTON PA 18510 990 2017-06-01 240795441 KEYSTONE COLLEGE KEYS 5709458000 ONE COLLEGE GREEN LA PLUME PA 18440 F STUART RENDA VP OF FINANCE AND ADMINSTRATIO 5709458000 2019-04-10 1 MARY ANN NOVAK CPA P01056330 5709610345 2019-04-10 173.167.86.170 2019-04-10 16:53:39 ED P E381BD43B3377A47F43A4F835F8EB19F22D4D7C4 E381BD43B3377A47F43A4F835F8EB19F22D4D7C4 2017 2019-02-21 02:37:17Z TRACY L BRUNDAGE ONE COLLEGE GREEN LA PLUME PA 18440 42238772 0 X WWW.KEYSTONE.EDU X 1935 PA EDUCATING STUDENTS IN A LIBERAL ARTS TRADITION FOSTERING A GLOBAL PERSPECTIVE ON LIFE-LONG LEARNING. 34 31 622 106 0 0 3797292 3637039 34038214 34275869 193764 1242166 580537 393367 38609807 39548441 12061604 12759818 0 0 12572108 12948073 0 0 584230 14238891 14823763 38872603 40531654 -262796 -983213 38664825 37579216 23225056 23376743 15439769 14202473 KEYSTONE COLLEGE EDUCATES STUDENTS IN A LIBERAL ARTS TRADITION THAT VALUES CIVILITY, INTEGRITY, AND CURIOSITY, FOSTERING A GLOBAL PERSPECTIVE ON CULTURAL DIVERSITY, ENVIRONMENTAL SUSTAINABILITY, AND LIFE-LONG LEARNING. 0 0 35567487 12759818 34606707 KEYSTONE COLLEGE IS A VIBRANT AND DIVERSE CAMPUS WHEREBY OUR GRADUATES ARE LIFE-LONG LEARNERS WHO ARE ACTIVELY ENGAGED, CONTRIBUTE TO THEIR COMMUNITIES, AND THRIVE IN THE WORLD. NEARLY 1400 STUDENTS COME FROM NEARBY STATES SUCH AS NEW YORK, NEW JERSEY, AND MARYLAND, AS WELL AS NATIONALLY AND INTERNATIONALLY.KEYSTONE COLLEGE IS A FULLY ACCREDITED AND HIGHLY RESPECTED INSTITUTION OF HIGHER EDUCATION OFFERING ASSOCIATE, BACHELOR'S AND MASTER'S DEGREES. 35567487 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 81 0 1 622 1 0 0 0 0 0 1 1 0 0 0 0 X 34 31 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 1 1 0 PA X F STUART RENDA VP OF FINANCE AND ADMIN 5709458000 ONE COLLEGE GREEN LA PLUME PA 18440 ROBERT SWARTLEY CHAIR 2.00 X X 0 0 0 JOHN F PULLO CHAIR - ELECT 2.00 X X 0 0 0 JUDY PRICE VICE CHAIR 2.00 X X 0 0 0 JAMES C CLARK SECRETARY 2.00 X X 0 0 0 SUSAN BELIN TRUSTEE 2.00 X 0 0 0 JON S CRAIGHEAD TRUSTEE 2.00 X 0 0 0 ALICE DAVIS TRUSTEE 2.00 X 0 0 0 JAMES B DAVIS TRUSTEE 2.00 X 0 0 0 JOHNATHAN L DAVIS TRUSTEE 2.00 X 0 0 0 SUSAN DAWSON TRUSTEE 2.00 X 0 0 0 NANCY DRESSEL TRUSTEE 2.00 X 0 0 0 NATALIE GELB TRUSTEE 2.00 X 0 0 0 KIRBY HICKEY TRUSTEE 2.00 X 0 0 0 JAMES HEFFERNAN TRUSTEE 2.00 X 0 0 0 ROBERT L KAGLER TRUSTEE 2.00 X 0 0 0 RICHARD T KREBS TRUSTEE 2.00 X 0 0 0 GRETCHEN LUDDERS TRUSTEE 2.00 X 0 0 0 JOHN S MORRISON TRUSTEE 2.00 X 0 0 0 GERARD T O'DONNELL TRUSTEE 2.00 X 0 0 0 JANE OPPENHEIM TRUSTEE 2.00 X 0 0 0 DIANE PAPARO TRUSTEE 2.00 X 0 0 0 LETHA WELLS REINHEIMER TRUSTEE 2.00 X 0 0 0 SUZANNE FISHER STAPLES TRUSTEE 2.00 X 0 0 0 JOHNATHAN VIPOND III TRUSTEE 2.00 X 0 0 0 DAVID L COPPOLA PRESIDENT 50.00 X X 206888 0 14390 DR IDA L CASTRO TRUSTEE 2.00 X 0 0 0 JOHN M DUFF TRUSTEE 2.00 X 0 0 0 DAVID NOYLE TRUSTEE 2.00 X 0 0 0 DR BETTY J TUROCK TRUSTEE 2.00 X 0 0 0 DR DAVID L TUROCK TRUSTEE 2.00 X 0 0 0 GAIL DICKSTEIN TRUSTEE 2.00 X 0 0 0 ALAN GLASSMAN TRUSTEE 2.00 X 0 0 0 DANIEL P HAGGERTY TRUSTEE 2.00 X 0 0 0 SHARON M MEAGHER TRUSTEE 2.00 X 0 0 0 KAREN K YARISH VP OF ACADEMIC AFFAIRS 50.00 X 100816 0 11018 F STUART RENDA VP OF FINANCE AND ADMINIST 50.00 X 118799 0 8831 BECKER JANINE VP FOR ENROLLMENT & MARKETING 50.00 X 113917 0 12322 PATRICIA DAVIS PROFESSOR 40.00 X 107342 0 11117 MILLER PATRICIA PROFESSOR 40.00 X 100905 0 11952 748667 0 69630 6 0 1 0 SODEXO PO BOX 360710 PITTSBURGH PA 15251 FOOD AND FACILITY SERVICES 2487876 FOLLET HIGHER EDUCATION GROUP 3146 SOLUTIONS CENTER CHICAGO IL 60677 BOOK STORE 787598 ROYALL & COMPANY 1920 EAST PARHAM ROAD RICHMOND VA 22102 ENROLLMENT MANAGEMENT 539018 CAPITAL EDUCATION 1650 TYSONS BLVD STE 630 MCLEAN VA 22102 ONLINE EDUCATION SERVIES 424285 LRAP ASSOCIATION 750 WARRENSVILLE ROAD SUITE 102 LISLE IL 60532 ONLINE EDUCATIONAL OFFERINGS 273460 8 14131 1833055 1789853 3637039 TUITION AND FEES 611310 28523238 28523238 ROOM AND BOARD 721000 4407067 4407067 SUMMER AND WEEKENDER 611710 1294211 1294211 BOOK STORE COMMISSION 611710 51353 51353 34275869 127660 127660 70788 0 70788 70788 70788 3776538 2662032 1114506 1114506 1114506 20040 14131 28299 -8259 -8259 EARLY ED TRAINING CTR 611710 169381 169381 OTHER PROGRAM SERVICE 900099 161457 161457 330838 39548441 34606707 0 1304695 X 12759818 12759818 931480 130407 801073 9651316 7914079 1351184 386053 157970 129535 22116 6319 1455600 1193592 203784 58224 751707 616400 105239 30068 48611 48611 38000 38000 5234482 4553999 628138 52345 223351 194315 29036 262500 228375 31500 2625 123068 107069 14768 1231 767973 668136 92157 7680 324070 281941 38888 3241 64976 56529 8447 1041910 906462 125029 10419 2038727 1773693 244647 20387 313823 273026 37659 3138 OTHER ADMINISTRATIVE EX 3228406 2833335 395071 BAD DEBT EXPENSE 791730 657136 134594 DUES, MEMBERSHIPS & SUB 249968 217472 29996 2500 STUDENT ACTIVITIES 72168 72168 40531654 35567487 4379937 584230 1779780 432772 754699 678561 2082574 2144191 160073 144652 334782 616896 62928043 39758983 23612232 23169060 7928618 8317415 2012067 2075669 38664825 37579216 3546945 3805169 1452669 1463756 6568445 6178573 7183651 7928460 3258059 3050000 1215287 950785 23225056 23376743 X 4736965 2833391 2241264 2642230 8461540 8726852 15439769 14202473 38664825 37579216 X -983213 -531069 276986 X X 0 1 X 1 1 1 X 1000 358954 X X 0 1 0 7764036 201710 500929 349489 26422 8090764 7237416 224176 785055 462909 19702 7764036 7768045 231934 -52129 661934 48500 7237416 8106759 325267 486286 1101767 48500 7768045 7462000 234595 889874 432395 47315 8106759 0.00000 0.81000 0.19000 0 0 606410 606410 43482800 25085521 18397279 17623593 14673462 2950131 1215240 1215240 23169060 BENEFICIAL INTEREST IN PERPETUAL TRUSTS 2075669 2075669 CAPITAL LEASE OBLIGATIONS 288947 REFUNDABLE ADVANCES FROM GOVERNMENT AGENCIES 463325 INTEREST RATE SWAP 198513 950785 X 26562839 -531069 -12482832 -13013901 39576740 -28299 -28299 39548441 27800135 28299 28299 27771836 12759818 12759818 40531654 PART III, LINE 4: COLLECTION ITEMS ACQUIRED AFTER JUNE 1, 1996 ARE CAPITALIZED AT COST, IF PURCHASED, OR FAIR VALUE. SUCH ITEMS INCLUDE ARTWORK, GLASS, CRYSTAL AND OTHER ITEMS. COLLECTION ITEMS ACQUIRED PRIOR TO JUNE 1, 1996 WERE NOT CAPITALIZED. THESE ITEMS INCLUDE A COLLECTION OF MEMORABILIA FROM BASEBALL HALL OF FAMER, CHRISTY MATHEWSON, AN ALUMNUS OF KEYSTONE ACADEMY, THE FORERUNNER TO KEYSTONE COLLEGE. OUR COLLECTION HAS BEEN DESCRIBED AS "THE LARGEST AND BEST" OF ITS KIND BY SPORTS MEMORIABILIA EXPERTS. IT IS AN IMPORTANT PIECE OF OUR INSTITUTION'S HISTORY AND IS THE CENTERPIECE OF THE ANNUAL COMMUNITY CELEBRATION THAT WE HOST FOR OUR NEIGHBORING COMMUNITY, FACTORYVILLE BOROUGH, WHICH WAS MR. MATHEWSON'S BIRTHPLACE. WE OWN A COLLECTION OF ANTIQUE, ORNAMENTAL GLASS SERVING PIECES. THESE ITEMS PROVIDE TANGIBLE EXAMPLES OF A FINE ART PRACTICE THAT IS BECOMING SCARCELY PRACTICED. THIS COLLECTION ADDS CONSIDERABLE VALUE TO OUR STUDENTS' EDUCATION EXPERIENCE, PARTICULARLY THOSE WHO STUDY AND PRACTICE THE ART OF GLASS-BLOWING IN OUR ON-CAMPUS GLASS STUDIO, WE ALSO MAINTAIN A COLLECTION OF VARIOUS WORKS OF VISUAL ART, INCLUDING PAINTING, DRAWINGS, AND SCULTPTURES, THAT ENHANCE OUR STUDENTS' EDUCATIONAL EXPERIENCE AND ADD VALUE TO OUR CAMPUS AESTHETIC. PART IV, LINE 1B: CERTAIN STUDENTS OF THE COLLEGE WERE RECIPIENTS OF GRANTS UNDER THE PENNSYLVANIA HIGHER EDUCATION ASSISTANCE ACT (PHEAA) AND THE PELL GRANTS PROGRAMS. THE GRANTS ARE SIMILAR TO AGENCY FUNDS BECAUSE THE COLLEGE ACTED ONLY AS CUSTODIAN AND DISBURSING AGENT FOR THESE FUNDS. PART V, LINE 4: EARNINGS ON ENDOWMENT FUNDS ARE USED TO SUPPORT SCHOLARSHIPS FOR STUDENTS, FACULTY SALARIES, AND AWARDS. PART X, LINE 2: THE COLLEGE IS EXEMPT FROM FEDERAL INCOM TAXES ON RELATED INCOME UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. INCOME DETERMINED TO BE UNRELATED BUSINESS INCOME IS TAXABLE. THE COLLEGE BELIEVES ALL ITS INCOME IS RELATED INCOME AND ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE COLLEGE'S POLICY IS TO RECOGNIZE INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED GAIN ON INTEREST SWAP 205,322. CHANGE IN VALUE OF ANNUITY OBLIGATION 8,062. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST 63,602. STUDENT AID -12,759,818. PART XI, LINE 4B - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EXPENSES -28,299. RENTAL EXPENSES PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EXPENSES 28,299. RENTAL EXPENSES PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID 12,759,818. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 WE SOLICIT STUDENTS THROUGHOUT THE YEAR AND MAKE THEM AWARE OF THE POLICY THROUGH OUR WRITTEN ADMISSIONS MATERIALS, OUR CATALOGUE, AND OUR WEBSITE. SCHEDULE E, PART I, LINE 6 KEYSTONE COLLEGE PARTICIPATES IN THE TITLE IV FEDERAL STUDENT ASSISTANCE PROGRAMS. THE ORGANIZATION ALSO PARTICIPATES IN THE COMMONWEALTH OF PENNSYLVANIA STATE GRANT PROGRAM AND INSTIUTIONAL ASSISTANCE GRANT PROGRAM. GOLF TOURAMENT 34171 14131 20040 3568 23671 89 971 34171 14131 20040 3568 23671 89 971 28299 -8259 1 SCHOLARSHIPS (INTERNAL TUITION DISCOUNTS) 1744 12759818 CASH PART I, LINE 2: ALL STUDENTS APPLYING FOR FINANCIAL ASSISTANCE ARE REQUIRED TO SUBMIT THE FREE APPLICATION FOR FEDERAL STUDENT AID ("FAFSA"). THE STUDENT FINANCIAL AID OFFICE REVIEWS THE RESULTS OF THE FAFSA, WHICH DICTATES WHAT AND HOW MUCH FEDERAL FUNDING THE INDIVIDUAL STUDENT IS ELIGIBLE FOR. IF THE STUDENT IS DETERMINED TO BE IN COMPLIANCE WITH ALL FEDERAL REGULATIONS, AS DETERMINED BY THE DEPARTMENT OF EDUCATION, THE STUDENT FINANCIAL AID OFFICE AWARDS THE STUDENT THE APPROPRIATE FUNDING. STUDENT FILES REGARDING ELIGIBILITY ARE MAINTAINED BY THE STUDENT FINANCIAL AID OFFICE. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 DAVID L COPPOLA PRESIDENT 206888 0 0 0 0 0 0 0 14390 0 221278 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 DR. BETTY J. TUROCK AND DR. DAVID L. TUROCK, BOTH TRUSTEES, ARE RELATED TO EACH OTHER AS MOTHER AND SON. IN ORDER TO DETERMINE WHETHER OR NOT THERE ARE ANY BUSINESS OR FAMILY RELATIONSHIPS BETWEEN OFFICERS, DIRECTORS, TRUSTEES OR KEY EMPLOYEES, INTERVIEWS ARE PERFORMED BY HUMAN RESOURCES, FOLLOWED BY THE RESPONSIBLE MANAGERS, VICE PRESIDENT, AND POSSIBLY THE PRESIDENT AND/OR A SEARCH COMMITTEE COMPRISED OF SEVERAL EMPLOYEES AND BOARD MEMBERS. THE DIRECTOR OF HUMAN RESOURCES CONDUCTS THE CONFLICT OF INTEREST QUESTION AND BUSINESS AND FAMILY RELATIONSHIP QUESTIONS, AND PREPARES A LOG OF THE RESPONSES. THIS INFORMATION IS FORWARDED TO THE PRESIDENT. FORM 990, PART VI, SECTION B, LINE 11B THE FINAL FORM 990 IS REVIEWED BY MEMBERS OF THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES AND F. STUART RENDA, VICE PRESIDENT OF FINANCE AND ADMINISTRATION PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE COLLEGE REQUIRES ALL COVERED PARTIES SUCH AS TRUSTEES, KEY EMPLOYEES AND OFFICERS TO COMPLETE CONFLICT QUESTIONNAIRES ON AN ANNUAL BASIS. THE VP OF FINANCE AND ADMINISTRATION COLLECTS AND REVIEWS THESE QUESTIONNAIRES AND REPORTS ANY CONFLICTS TO THE PRESIDENT AND CHAIRMAN OF THE BOARD. BOARD MEMBERS ABSTAIN FROM VOTING WHEN CONFLICTS ARISE. IN ADDITION, THE VICE PRESIDENT OF FINANCE & ADMINISTRATION REVIEWS THE APPROVED VENDOR LIST ON AN ANNUAL BASIS NOTING ANY POTENTIAL CONFLICTS WHICH MAY HAVE BEEN IMPROPERLY DISCLOSED. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE CHIEF EXECUTIVE OFFICER AND THE PRESIDENT WAS DETERMINED BY THE CHAIRMAN OF THE BOARD OF TRUSTEES, AN INDEPENDENT TRUSTEE. THE CHAIRMAN CONSULTED WITH OTHER INDEPENDENT MEMBERS OF THE BOARD OF TRUSTEES, AT HIS DISCRETION, AND REVIEWED EXECUTIVE COMPENSATION DATA PROVIDED BY THE CHIEF FINANCIAL OFFICER, THE VICE PRESIDENT OF FINANCE AND ADMINISTRATION/TREASURER. THIS INFORMATION INCLUDED, BUT WAS NOT LIMITED TO: INDUSTRY SURVEY DATA FROM THE CHRONICLE OF HIGHER EDUCATION, NACUBO, YAFFE AND COMPANY, AND AICUP. COMPENSATION FOR OTHER KEY EMPLOYEES WAS DETERMINED BY THE PRESIDENT, WHO CONSULTED WITH MEMBERS OF THE BOARD OF TRUSTEES, AT HIS DISCRETION. HE ALSO REVIEWED INFORMATION FROM INDUSTRY SOURCES, SUCH AS THOSE LISTED ABOVE AND WITH THE CHIEF HUMAN RESOURCES OFFICER. SALARY DECISIONS ARE DOCUMENTED IN THE BOARD COMMITTEE MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER SERVICES: PROGRAM SERVICE EXPENSES 4,553,999. MANAGEMENT AND GENERAL EXPENSES 628,138. FUNDRAISING EXPENSES 52,345. TOTAL EXPENSES 5,234,482. FORM 990, PART XI, LINE 9: UNREALIZED GAIN ON INTEREST RATE SWAP 205,322. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUSTS 63,602. CHANGE IN VALUE OF ANNUITY OBLIGATIONS 8,062. FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS NOT CHANGED ITS AUDITOR OVERSIGHT OR SELECTION PROCESS DURING THE TAX YEAR. PERPETUAL TRUSTS (3) PERPETUAL TRSUTS PA KEYSTONE COLLEGE T 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 PART VI- BENEFICIAL INTEREST IN TRUST KEYSTONE COLLEGE RECEIVES 100% OF THE NET INCOME FROM ONE OF THE PERPETUAL TRUSTS FOR THE PURPOSE OF PROVIDING SCHOLARSHIPS TO STUDENTS OF KEYSTONE COLLEGE WHO ARE RESIDENTS OF LACKAWANNA COUNTY, PENNSYLVANIA.