2018-03-05T09:46:09-06:00 2017-06-30 390859910 Baker Tilly Virchow Krause LLP 46 Public Square WilkesBarre PA 187012681 990 2016-07-01 240795406 Misericordia University MISE 5706746400 301 LAKE STREET DALLAS PA 186121090 Mark Van Etten VP, FINANCE AND ADMIN/TREAS. 5706746400 2018-03-01 1 Julius C Green CPA P00350393 5708200100 X 38.140.17.115 2018-03-01 10:21:16 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 41D52B76DFE0CA0C5E5ED141E25DBC48D8427C36 2016 2021-01-29 14:40:06Z THOMAS J BOTZMAN PHD 301 LAKE STREET DALLAS PA 186121090 89714208 0 0928 X WWW.MISERICORDIA.EDU X 1924 PA TO PROVIDE HIGHER EDUCATION SERVICES. 35 33 1497 33 335394 -111779 9242741 4972134 82538389 80364294 873609 1227771 514668 513319 93169407 87077518 24939126 26297885 0 0 36642564 37492080 159254 232906 1512534 22158352 21217927 83899296 85240798 9270111 1836720 163002096 169333640 42218032 41320254 120784064 128013386 X Misericordia University, a Catholic liberal arts institution established in the tradition of the Sisters of Mercy, fosters intellectual curiosity, critical thinking, and respect for persons in an environment where all are welcome.Values Statement: As a community, we are committed to integrity and the values of the Sisters of Mercy and the foundation of University life. Our values are: mercy through compassion, love and caring; service through selflessness, sacrifice and action; justice through fairness, acceptance and advocacy; hospitality with dignity, respect and openness. 0 0 75171404 26297885 80468066 Misericordia University is a Catholic, liberal arts-based, co-educational university founded in 1924 and it is sponsored by the Religious Sisters of Mercy. The University offers undergraduate and graduate programs to resident and commuter students who can choose from majors in three distinct Academic Colleges. The College of Arts and Sciences offers major degree programs in biochemistry, biology, chemistry, clinical laboratory science, computer science, English, government, law and national security, history, mathematics, medical and health humanities, philosophy, psychology, and statistics as well as a number of minor degree programs. Specializations in Pre-law (English, history, medical and health humanities, philosophy), Pre-professional (Biochemistry, Chemistry), Pre-DPT (Biochemistry, Biology, Medical and Health Humanities), Secondary Education certification (Biology, Chemistry, English, Mathematics), and Citizenship certification in History.The College of Health Sciences & Education offers major degree programs in diagnostic medical sonography, early childhood & special education, health science, medical imaging, medical science, mid-level education, nursing BSN, RN-BSN, and social work, as well as a minor degree program in addictions counseling and gerontology. Certification programs are available in addictions counseling, autism spectrum disorders, diagnostic medical sonography, geriatric care manager, health informatics, post masters family nurse practitioner, picture archiving & communication systems administrator, patient navigation, reading specialist, and post-professional pediatric.The College of Health Sciences & Education offers entry level professional master of science degrees in education, health informatics, nursing, Occupational Therapy, Physical Therapy, Physician Assistant Studies, and Speech-Language Pathology; a post-professional master of science degree in Occupational Therapy; and post professional doctorial degrees in Physical Therapy, Occupational Therapy, nursing, and nursing education. The College of Business offers major degree programs in accounting, business administration, health care management, information technology, mass communication and design, professional studies, and sports management along with a number of minor degree programs. Specialization in Pre-DPT includes Health Care Management. Graduate programs include business administration and organizational management.The University is regionally accredited by the Middle States Commission on Higher Education. Other accrediting agencies recognizing the University include the Accreditation Council for Occupational Therapy Education, Commission on Accreditation in Physical Therapy Education, Commission on Accreditation of Allied Health Education Programs (CAAHEP), Commission on Collegiate Nursing Education, Council on Academic Accreditation in Audiology and Speech-Language Pathology of the American Speech-Language Hearing Association, Council on Social Work Education, International Assembly for Collegiate Business Education (IACBE), Pennsylvania Department of Education, and The Joint Review Committee on Education in Radiologic Technology. Also, Misericordia University has legal permission from the Pennsylvania State Board of Nurse Examiners to operate a School of Nursing in the Commonwealth of Pennsylvania. The master's degree in education offered by Misericordia University is fully approved by the Pennsylvania Department of Education. The master's degree in nursing is fully accredited by the Commission on Collegiate Nursing Education (CCNE) of the American Association of Colleges of Nursing (AACN). The professional master's degree program in occupational therapy is fully accredited by the Accreditation Council for Occupational Therapy Education. The entry level program in physical therapy is fully accredited by the Commission on Accreditation of Physical Therapy Education, American Physical Therapy Association. The transition doctor of physical therapy program (tDPT) and the occupational therapy doctoral program (OTD) are fully approved by the Pennsylvania Department of Education. The master's degree in business administration and the master's degree in organizational management have accreditation by the International Assembly for Collegiate Business Education. The professional master's degree program in speech-language pathology at Misericordia University is accredited by the Council on Academic Accreditation in Audiology and Speech-Language Pathology (CAA), American Speech-Language-Hearing Association. The Accreditation Review Commission on Education for the Physician Assistant (the "ARC-PA") has accepted Misericordia University's plan to voluntarily withdraw from the ARC-PA accreditation process effective August 30, 2017. The following statement is provided by ARC-PA: "Misericordia University has applied for Accreditation-Provisional from the Accreditation Review Commission on education for the Physician Assistant (ARC-PA). Misericordia University anticipates matriculating its first class in July 2018, pending achieving Accreditation-Provisional status at the March 2018 ARC-PA meeting. Accreditation -Provisional is an accreditation status granted when the plans and resource allocation, if fully implemented as planned, of a proposed program that has not yet enrolled students appear to demonstrate the program's ability to meet the ARC-PA Standards or when a program holding accreditation-provisional status appears to demonstrate continued progress in complying with the Standards as it prepares for the graduation of the first class (cohort) of students. The Misericordia University's Physician Assistant Studies Program will not commence in the event that provisional accreditation is not received."The total headcount for Fall 2016 included 2,879 students. 75171404 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 0 1 1 0 1 1 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 1 1 0 0 0 1 1 1 0 0 0 1 4333 0 1 1497 1 1 1 0 0 0 0 1 1 0 0 0 0 X 35 33 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X RONALD HROMISIN CONTROLLER 5706746400 301 LAKE STREET DALLAS PA 18612 MICHAEL AMORY TRUSTEE 0.20 X 0 0 0 MSGR JOHN J BENDIK TRUSTEE 0.20 X 0 0 0 CHRISTOPHER L BORTON CHAIRMAN 0.20 X X 0 0 0 JONATHAN BRASSINGTON TRUSTEE 0.20 X 0 0 0 Alfred Casale MD TRUSTEE 0.20 X 0 0 0 Cornelio Catena TrustEE 0.20 X 0 0 0 R GREGORY COLLINS TRUSTEE 0.20 X 0 0 0 DR RUTH A CONNOLLY TRUSTEE 0.20 X 0 0 0 Jody Cordaro Trustee 0.20 X 0 0 0 Harris Cutler Trustee 0.20 X 0 0 0 MARY ERWINE TRUSTEE 0.20 X 0 0 0 PATRICIA FINAN-CASTELLANO TRUSTEE 0.20 X 0 0 0 Harold E FLACK II TRUSTEE 0.20 X 0 0 0 Carol ann gallagher rsm TRUSTEE 0.20 X 0 0 0 THE HON TINA POLACHEK GARTLEY TRUSTEE 0.20 X 0 0 0 Mary Ellen Gulotti Trustee 0.20 X 0 0 0 DR MARTHA HANLON RSM TRUSTEE 0.20 X 0 0 0 Roger Howell TrustEE 0.20 X 0 0 0 Philip Johnson TRUSTEE 0.20 X 0 0 0 KRISTOPHER B JONES TRUSTEE 0.20 X 0 0 0 SCOTT LYNETT TRUSTEE 0.20 X 0 0 0 Sherry A Manetta TRUSTEE 0.20 X 0 0 0 MARJORIE MARQUART TRUSTEE 0.20 X 0 0 0 Sr CATHERINE MCGROARTY RSM TRUSTEE 0.20 X 0 0 0 JOHN C METZ TRUSTEE 0.20 X 0 0 0 DANIEL MEUSER TRUSTEE 0.20 X 0 0 0 DR MARY HELEN NUGENT RSM TRUSTEE 0.20 X 0 0 0 Dr Carol Rittner RSM TRUSTEE 0.20 X 0 0 0 PAUL SIEGEL TRUSTEE 0.20 X 0 0 0 DR DEBORAH SMITH-MILESKI VICE-CHAIR 0.20 X X 0 0 0 ROBERT J SOPER TRUSTEE 0.20 X 0 0 0 mary Beth McNamara Sullivan trustEE 0.20 X 0 0 0 SR MAYON SYLVAIN RSM TRUSTEE 0.20 X 0 0 0 mark van Loon esq tRUSTEE 0.20 X 0 0 0 PAUL WOELKERS TRUSTEE 0.20 X 0 0 0 THOMAS J BOTZMAN PHD PRESIDENT 40.00 X 348419 0 70108 Charles Brody Vice President (RES. 7/5/17) 40.00 X 173135 0 29258 BARBARA LOFTUS VP, PLANNING, EXT. RELations/SEC'Y 40.00 X 148789 0 19306 Peter Fackler Treasurer (Res. 6/30/16) 40.00 X 104908 0 432 Beatrice Fevry Treasurer (Res. 4/7/17) 40.00 X 76224 0 1014 SUSAN HELWIG VP - UNIV ADVANCEMENT 40.00 X 157713 0 22565 Leamor Kahanov Dean- Health Sciences 40.00 X 148954 0 31221 corina slaff Int. Dean, college of business 40.00 X 140141 0 20126 Glen Tellis Professor 40.00 X 134420 0 18818 Fred Croop Professor 40.00 X 131367 0 33324 1564070 0 246172 24 0 1 0 METZ & ASSOCIATES LTD 301 lake street DALLAS PA 18612 FOOD SERVICE 2840523 The Slam Collaborative 80 Glastonbury Blvd Glastonbury CT 06033 Architectural Svcs 493604 Power Engineering Corp PO Box 766 Wilkes Barre PA 18703 Mechanical Cont. svc. 350588 ADP LLC PO Box 842875 BOSTON MA 022842875 Payroll Services 302869 Carroll Construction Co pO Box 341 dALLAS PA 18612 generAL CONSTRUCTION 253325 26 35682 813718 4122734 181415 4972134 STUDENT TUITION & FEES 611600 69123249 69123249 ROOM & BOARD 721310 11150542 11150542 BOOKSTORE 451211 48589 48589 Government Admin Fee 561000 41914 41914 80364294 1219889 4226 1215663 13050 4668 8382 8382 8382 2624886 2617004 7882 7882 7882 10758 35682 15018 -4260 -4260 SUMMER CAMPS/CONFeReNCES 611710 250132 63713 186419 OUTSIDE PRINTING REVENUE 561439 83007 83007 STUDENT PARKING/FINES 812930 74257 74257 101801 40059 61742 509197 87077518 80419477 335394 1350513 26260188 26260188 37697 37697 991029 991029 27426429 24153001 2500393 773035 3786667 3334716 339630 112321 1702923 1499674 152737 50512 3585032 3157147 326838 101047 203694 203694 78350 3000 75350 232906 232906 177231 177231 2365730 1566395 765777 33558 403452 74214 328696 542 2024417 1500072 417653 106692 1433657 263123 1170534 2118836 2106666 11998 172 1058691 883803 132785 42103 388763 315459 70064 3240 1319537 1289356 30181 4749608 4581188 168420 442276 442176 100 FOOD SERVICE 2832607 2674171 126805 31631 MEMBERSHIPS 404782 260083 138899 5800 ACADEMIC Pgrm. ReimB. 160030 160030 JANITORIAL 123653 123653 932613 485592 428046 18975 85240798 75171404 8556860 1512534 143652 79497 5030683 13573043 7004761 6775228 1479596 2117397 257941 243298 159418 462110 146735548 60711218 85418612 86024330 55808734 52003271 2218646 2326632 5480053 5728834 163002096 169333640 2962761 3239363 2816156 3400120 33067033 31684484 3372082 2996287 42218032 41320254 X 78021616 78835183 22170187 26946682 20592261 22231521 120784064 128013386 163002096 169333640 X 1836720 4662959 729643 X 0 1 X 1 1 1 X 7160206 3668981 6169572 9242741 5063599 31305099 7160206 3668981 6169572 9242741 5063599 31305099 6843896 24461203 233393 572865 879294 886846 1232939 3805337 58823 62909 78175 77145 74257 351309 35461745 398398163 0.68980 0.69990 X Schedule A, Part II, Line 10, Explanation of Other Income: student parking/fees - 2012 Amount: $ 58,823. 2013 Amount: $ 62,909. 2014 Amount: $ 78,175. 2015 Amount: $ 77,145. 2016 Amount: $ 74,257. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1581083 X 0 43549699 716080 5764768 633208 173660 49223679 44087111 1798376 -1608124 580710 146954 43549699 39366557 4296423 964203 417606 122466 44087111 30695310 5093521 4220136 548136 94274 39366557 25434408 3009325 2738572 410414 76581 30695310 0.36000 0.42000 0.22000 1 0 1240229 1240229 110380618 37535363 72845255 9480868 5224065 4256803 21575323 17951790 3623533 4058510 4058510 86024330 STUDENT DEPOSITS & ADVANCES 404226 ANNUITIES PAYABLE 15369 ADVANCE FROM FED. GoVt-STUD. LOANS 1727464 ASSET RETIREMENT OBLIGATIONS 39373 ACCRUED PENSION COST 809855 2996287 X 67203652 4662959 -24271117 -19608158 86811810 265708 265708 87077518 59974330 19686 19686 59954644 25286154 25286154 85240798 Part III, Line 4: The Univesity maintains a collection of artwork utilized in the decor of various University buildings including its art gallery. The University's art gallery and collection are integral parts of the fine arts collection. Part V, Line 4: Annual earnings from the University's endowment are used for the following purposes: 1. Preservation of the endowment principal to provide continued earnings. 2. Use of an annually pre-determined endowment spending rate to increase funds available for use in awarding annual scholarships. 3. Funding of a spending reserve to be used in years when annual earnings cannot support the preservation of endowment principal and the endowment spending rate. Part X, Line 2: The University accounts for uncertainties in income taxes in accordance with authoritative guidance, which prescribes a recognition threshold of more-likely-than-not to be sustained upon examination by the appropriate taxing authority. Measurement of the tax uncertainty occurs if the recognition threshold has been met. The University does not believe its financial statements include any uncertain tax positions. The University's policy is to recognize interest related to unrecognized tax benefits in interest expense and penalties in operating expenses. No interest on penalties was recognized in 2017 and 2016. Part XI, Line 2d - Other Adjustments: CHANGE IN SPLIT-INTEREST AGREEMENTS 273,047. MINIMUM PENSION LIABILITY ADJUSTMENT 426,873. STUDENT SCHOLARSHIPS -25,108,923. INVESTMENT FEES -177,231. REVERSAL OF PLEDGE NOT RECORDED ON FY 15/16 FINANCIAL STATEMENTS 315,117. Part XI, Line 4b - Other Adjustments: fundraising expenses -15,018. RENTAL EXPENSES -4,668. CULTURAL EVENT REVENUE NOT REPORTEDED ON LINE 1 61,742. PLEDGE NOT RECORDED ON FY 16/17 FINANCIAL STATEMENTS 223,652. Part XII, Line 2d - Other Adjustments: Fundraising Expenses 15,018. Rental Expenses 4,668. Part XII, Line 4b - Other Adjustments: STUDENT SCHOLARSHIPS 25,108,923. INVESTMENT EXPENSES 177,231. 0 Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 PROGRAM SERVICES educational/volunteerism activities 6308 South America - Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador, 0 0 program services educational/volunteerism activities 5395 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium 0 0 program services Educational/Volunteer Activities 14007 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium 0 0 PROGRAM SERVICES study abroad 61305 east Asia and the Pacific - Australia, Brunei, Burma, Cambodia, 0 0 PROGRAM SERVICES study abroad 13105 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium 0 1 Program Services Study Abroad-admin 1012 0 1 0 0 0 1 101132 0 101132 FINANCIAL AID East Asia and the Pacific - Australia, Brunei, Burma, Cambodia, 2 5937 TUITION REDUCTION FINANCIAL AID Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgiu 5 31760 TUITION REDUCTION 1 0 0 0 0 0 X X X X X X X 1 Ruffalo Noel Levitz 1025 kirkwood parkway sw cedar rapids IA 52404 Phonathon 0 96034 67646 28388 Snavely Associates 112 W Foster Ave 401 State College PA 16801 Capital Campaign consultant 0 0 122534 122534 Marts & Lundy 1200 Wall St W Lyndhurst NJ 07071 Capital Campaign consultant 0 0 41166 41166 96034 231346 192088 MU GOLF TOURNAMENT 46440 35682 10758 4260 4576 6182 46440 35682 10758 4260 4576 6182 15018 -4260 1 STUDENT ACADEMIC SCHOLARSHIPS 1942 26260188 0 N/A Part I, Line 2: The University provides its students with various scholarships that are awarded based on various criteria. Each student's eligibility is verified prior to awarding. The University awards the grantS directly to outstanding balances to ensure the proper use of awarded funds. X X 1 1 X X X X 1 1 0 0 0 0 0 1 0 THOMAS J BOTZMAN PHD PRESIDENT 274310 0 63603 0 10506 0 48561 0 21547 0 418527 0 0 0 Charles Brody Vice President (RES. 7/5/17) 173135 0 0 0 0 0 14990 0 14268 0 202393 0 0 0 BARBARA LOFTUS VP, PLANNING, EXT. RELations/SEC'Y 148789 0 0 0 0 0 11232 0 8074 0 168095 0 0 0 SUSAN HELWIG VP - UNIV ADVANCEMENT 157713 0 0 0 0 0 13540 0 9025 0 180278 0 0 0 Leamor Kahanov Dean- Health Sciences 148954 0 0 0 0 0 11759 0 19462 0 180175 0 0 0 corina slaff Int. Dean, college of business 140141 0 0 0 0 0 0 0 20126 0 160267 0 0 0 Glen Tellis Professor 134420 0 0 0 0 0 10696 0 8122 0 153238 0 0 0 Fred Croop Professor 131367 0 0 0 0 0 10791 0 22533 0 164691 0 0 0 Part I, Line 1a The University furnishes the President and his family with housing owned by the University, which is required as a condition of employment. The President and his family will reside in the home throughout his term. The house is also used to host University-related functions. This benefit was not included in taxable compensation as it qualifies for exclusion under Internal Revenue Code Section 119(d) due to being required as a condition of employment and for the convenience of the employer. The University is responsible for paying the cost of all utilities and reasonable expenses, including maintenance and renovations to the president's residence and grounds and excluding personal telephone charges. The University pays dues for memberships in such professional and community associations and organizations, and for attendance by the President at conferences and meetings, as deemed appropriate for the President's execution of the duties of his office. This includes membership fees to the Westmoreland Club and Huntsville Golf Club. These benefits are not included in the President's taxable compensation given the business nature surrounding these memberships. Part I, Lines 4a-b THOMAS BOTZMAN, THE PRESIDENT, PARTICIPATES IN A NON-QUALIFIED PLAN. THE UNIVERSITY CONTRIBUTED $25,000 TO THE PLAN DURING THE FISCAL YEAR. An officer who separated from the organization during the fiscal year received a severance payment. Part I, Line 7 THE PRESIDENT OF THE UNIVERSITY MAY RECEIVE AN INCENTIVE-BASED ANNUAL BONUS AT THE DISCRETION OF THE BOARD OF TRUSTEES. THE DECISION TO AWARD A BONUS IS BASED UPON THE PRESIDENT'S PERFORMANCE DURING THE PREVIOUS YEAR AND MEASURED AGAINST THE GOALS, OBJECTIVES, AND EXPECTATIONS MUTUALLY ESTABLISHED BY THE PRESIDENT AND THE BOARD OF TRUSTEES ANNUALLY. A THE GENERAL MUNICIPAL AUTHORITY OF THE BOROUGH OF HARVEYS LAKE 231920749 417846AA0 2008-12-18 21360000 PARTIAL REFUNDING OF PRIOR BOND ISSUE, FIN CAPital PROJs, PAY ISSuance COSTS 0 0 0 B Dallas Area Municipal Authority 231746641 235171AM7 2014-09-02 29617498 Fully refund 2010-2012 term loans and partially refund the 2008 bond issue. 0 0 0 A 14690000 21360000 331438 17694527 3334035 2009 1 0 1 1 B 3810000 29617498 2492084 490045 26679602 2014 1 0 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 1 1 PNC BANK 19.400000000000 0 1 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 SCHEDULE K, PART IV, LINE 4C: THE ORGANIZATION TERMINATED ITS HEDGE WHEN THE BOND ISSUE WAS REFINANCED IN SEPTEMBER 2014. PER IRS INSTRUCTIONS NAMES ARE NOT PER IRS INSTRUCTIONS, INTERESTED PERSONS ARE NOT INDIVIDUALLY NAMED. 4740 TUITION ASSISTANCE EMPLOYEE BENEFITS JOHN C METZ BOARD MEMBER 2858174 FOOD SERVICE FOR THE UNIVERSITY IS PROVIDED BY METZ & ASSOCIATES, LTD. JOHN C. METZ IS THE executive CHAIRMAN OF METZ & ASSOCIATES, LTD and also serves as a board member of the University. THE BOARD MAINTAINS A CONFLICT OF INTEREST POLICY AND ALL TRANSACTIONS WITH METZ & ASSOCIATES, LTD aRE CONDUCTED AT ARM'S LENGTH. 0 CHRISTOPHER L BORTON bOARD MEMBER 222586 engineering and ARCHITECTURAL services are provided to the University by borton-lawson engineering. cHRISTOPHER l. bORTON, The chief executive officer of the firm, also serves as a board member of the University. The board maintains a conflict of interest policy, and all transactions with BORTON-LAWSON ENGINEERING are conducted at arm's length. 0 X 4 108697 NYSE X Medical Equipment 1 72718 Purchase Price 0 0 1 0 Part I, Column (b): The number of contributors is reported for all gifts. Form 990, Part VI, Section A, line 1 the executive committee shall exercise all of the powers of the Board of Trustees when the board is not in session, with the exception of removing or appointing the president of the university or taking any action which has specifically been reserved by the Board. Form 990, Part VI, Section A, line 2 the following relationships were disclosed among Board Members: CORNELIO CATENA AND R. GREGORY COLLINS HAVE A BUSINESS RELATIONSHIP. paul woelkers and mary erwine have a business relationship. KRISTOPHER B. JONES AND ROBERT J. SOPER HAVE A BUSINESS RELATIONSHIP. Form 990, Part VI, Section A, line 6 the sole member of the university shall be the conference for mercy higher education, inc. Form 990, Part VI, Section A, line 7a the sole member has the right to appoint and reappoint trustees. Form 990, Part VI, Section A, line 7b powers reserved for the sole member include: 1. changes in institutional purpose 2. appointment of a president of the university 3. merger or consolidation of the institution with another corporation 4. sale, mortgage, purchase, or lease of real property affecting more than five percent of corporate assets, loans exceeding five percent of corporate assets, and disposition of corporate assets exceeding one percent of corporate assets. 5. matters required by canon law 6. approval of amendments to the By-laws Form 990, Part VI, Section B, line 11b After preparation, a complete copy of forms 990 and 990-T are reviewed extensively by the University's financial management area in consultation with the University's independent tax professionals. Upon completion of that review process the University provides form 990 and 990-T to the University's Audit Committee. The University's Audit Committee is a standing committee of the Board of Trustees. As outlined in the Audit Committee Charter, one of the Audit Committee's responsibilities is to annually review and approve Federal Form 990 and Form 990-T prior to filing. After review and approval by the audit committee, Copies of Forms 990 and 990-T are provided to the full Board of Trustees prior to the filing due date via a web-based secure link. Form 990, Part VI, Section B, line 12c The University maintains a written conflict of interest policy covering all members of the Board of Trustees, institutional officers, faculty and employees of the University. A Disclosure and Conflict of Interest Form details information regarding substantive, competing, business and familial relationships that may represent a conflict of interest. Any such relationships including possible substantial benefits are detailed on the Disclosure and Conflict of Interest Form. Members of the Board of Trustees are required to complete a new Disclosure and Conflict of Interest Form annually. The forms are reviewed by the Secretary of the Board of Trustees and any potential conflicts are reviewed with the President and the Human Resources Department as considered necessary. board members and other officers abstain from any decisions made by the board when a conflict is present. Form 990, Part VI, Section B, line 15 The University's Executive Committee, which also serves as the Compensation Committee, periodically engages an independent consulting firm to assist in determining executive compensation within a pre-determined compensation philosophy. The firm's review is based upon market evaluation of items including the University's peer institutions' statistics, fair market range within the industry, and compensation and benefits in compliance with appropriate provisions of the Internal Revenue Code. Salary adjustments and bonuses for the president are discussed and documented at the Executive Committee level. All other employees, including key employees, have their compensation decided upon date of hire. subsequent raises are determined BASED ON an annual university-wide increase. fair market compensation for the industry is considered in all compensation decisions. Form 990, Part VI, Section C, line 19 Although the University does not make its governing documents and Conflict of Interest policy available to the public, the documents are available upon request. The Conflict of Interest policy is included in the University's General Institutional Employment Policies/Employee Benefits policy manual. As a requirement of its public debt rating, the University's audited financial statements are posted annually to the Electronic Municipal Market Access ("EMMA") site of the Municipal Securities Rulemaking Board ("MSRB") at emma.msrb.org. Form 990, Part XI, line 9: CHANGE IN SPLIT-INTEREST AGREEMENTS 273,047. Minimum Pension Liabilty Adjustment 426,873. CULTURAL EVENT REVENUE NOT REPORTED ON FINANCIALS -61,742. REVERSAL OF PLEDGE NOT RECORDED ON FY 15/16 FINANCIAL STATEMENTS 315,117. pledge not recorded on fy 16/17 financial statements -223,652. MU REAL ESTATE LLC 301 LAKE STREET DALLAS PA 18612 813351641 REAL ESTATE HOLDING COMPANY PA 0 16188 MISERICORDIA UNIVERSITY CONFERENCE For MERCY HIGHER EDUCATION 8380 COLESVILLE ROAD STE 300 SILVER SPRING MD 20910 SUPPORT OF CATHOLIC HIGHER ED MD 501(c)(3) Line 1 N/A 0 PERPETUAL TRUST (1) INVESTMENTS PA PNC BANK T 0 PERPETUAL TRUST (1) INVESTMENTS PA BNY MELLON WEALTH MGT T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0