2018-04-17T00:00:00-05:00 2017-05-31 390859910 Baker Tilly Virchow Krause LLP 1650 Market Street Suite 4500 Philadelphia PA 191037341 990 2016-06-01 240795495 University of Scranton UNIV 5709417411 800 Linden Street Scranton PA 18510 EDWARD J STEINMETZ CPA SENIOR VP FINANCE & Treasurer 5709417411 2018-04-19 1 Julius C Green CPA P00350393 2159720701 96.89.178.154 2018-04-19 11:58:29 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 9D0D8DD59390B7764A3ECE0F40BBFE3618018605 2016 2021-01-29 14:40:06Z Rev Herbert B Keller S 800 LINDEN STREET SCRANTON PA 18510 279018696 0 X WWW.SCRANTON.EDU X 1888 PA The University of Scranton is a Catholic and Jesuit university dedicated to education. 29 28 2961 675 1297706 -402886 11295076 13891529 213576778 215151882 3961668 8071666 2690421 2861386 231523943 239976463 63909686 66267847 0 0 99568113 103367160 34410 20000 2826331 59813163 59168920 223325372 228823927 8198571 11152536 563915481 585260284 210286241 205796795 353629240 379463489 X The University of Scranton is a Catholic and Jesuit university. It is a community dedicated to the freedom of inquiry and personal development fundamental to growth in wisdom and integrity of all who share its life. It offers degree programs at the undergraduate, graduate, pre-professional, and professional levels. 0 0 132487130 66267847 177713306 Higher Education; Instruction - Provides undergraduate and graduate instruction to 3,867 undergraduate and 1,513 graduate students. There are 65 undergraduate major programs, 29 graduate (masters) level programs, one doctoral program, and over 100 continuing and professional education programs taught at the University.Higher Education; Student Financial Aid - Total institutional financial aid awards processed and disbursed by the Financial Aid Office amounted to $66,267,847 to recipients. Additionally, the Financial Aid Office processed $58,998,924 of financial aid in the form of loans to students. During the 2016-2017 academic year 3,609 unduplicated recipients received some form of financial aid. Loans provided to students and their parents include Federal Stafford, PLUS, and alternative loans. 33651515 0 37438576 Higher Education; Auxiliary Services - Provides dormitory and food services to approximately 2,686 resident students and food services to commuter students, faculty, staff and administration. 18561572 0 0 Higher Education; Student Services and Activities Expenditures or activities whose purpose is to contribute to students' emotional and physical well-being and development outside the classroom. 233369 0 87625 Higher Education, Research - Includes the cost associated with grants/awards to produce research either funded internally or commissioned by an agency external to the University. 7452652 0 1490863 Higher Education; Academic Support - Includes expenses applicable to an integral part of the University's primary mission of instruction, research, or public service that are not charged directly to these programs. 6094236 0 0 Higher Education; Library - Expenses incurred in operating an 80,000 sq. ft. University library. The library contains over 633,035 volumes, 203,507 full-text online books, and a media collection holding 22,544 non-print items and 9,085 streaming media programs for student and general public study and research. 1897818 0 0 Higher Education, Public Service Funds expended for activities established primarily to provide non-institutional services beneficial to individuals and groups external to the University. These expenses do not include over 175,000 community service hours provided by University students. 15678075 0 1578488 200378292 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 1 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 7730 1 1 2961 1 1 1 0 0 0 0 1 1 0 0 0 0 X 29 28 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 PA AK CO MA NH WA X X ADRIAN J MIHALKO CPA 5709414897 800 LINDEN STREET SCRANTON PA 18510 LAWRENCE LYNCH Trustee, Board Chairman 2.00 X X 0 0 0 MICHAEL P GLINSKY Trustee, Board Co-Vice Chair 1.00 X X 0 0 0 DENNIS J MCGONIGLE Trustee, Board Co-Vice Chair 1.00 X X 0 0 0 KEVIN P QUINN SJ President 1.00 X X 21183 0 29752 Richard V Baker Trustee 1.00 X 0 0 0 TRACY F BANNON Trustee 1.00 X 0 0 0 Linda D Barrasse MD Trustee 1.00 X 0 0 0 JUDITH M BAVARIA Trustee 1.00 X 0 0 0 David C Blake PHD JD Trustee 1.00 X 0 0 0 Patricia A Byrnes Clarke Trustee 1.00 X 0 0 0 JACQUELYN DIONNE RN Trustee 1.00 X 0 0 0 Frank J Dubas Jr CPA Trustee 1.00 X 0 0 0 Alan J Griffith Trustee 1.00 X 0 0 0 Matthew E Haggerty Esq Trustee 1.00 X 0 0 0 Mary R Haveron CPA Trustee 1.00 X 0 0 0 PHILIP G JUDGE SJ Trustee 1.00 X 0 0 0 CHRISTOPHER J KANE Trustee 1.00 X 0 0 0 Herbert B Keller SJ Trustee 1.00 X 0 0 0 William J Kelley SJ Trustee 1.00 X 0 0 0 Daniel K Lahart SJ Trustee 1.00 X 0 0 0 Keith F Muccino SJ MD Trustee 1.00 X 0 0 0 JUSTIN B MURPHY Trustee 1.00 X 0 0 0 THOMAS P O'BRIEN Trustee 1.00 X 0 0 0 VICENT F REILLY ESQ Trustee 1.00 X 0 0 0 PATRICK W SHEA ESQ Trustee 1.00 X 0 0 0 James M Slattery Trustee 1.00 X 0 0 0 JOSEPH M VASZILY Trustee 1.00 X 0 0 0 Robert S Weiss Trustee 1.00 X 0 0 0 Yohuru R Williams PhD Trustee 1.00 X 0 0 0 EDWARD J STEINMETZ CPA SVP Finance/Treasurer 45.00 X 311829 0 45783 GARY R OLSEN VP University Advancement 45.00 X 232927 0 51919 ROBERT B FARRELL ESQ General Counsel 45.00 X 216790 0 44023 GERALD C ZABOSKI VP External Affairs 45.00 X 196764 0 96043 Anitra M MCSHEA Vice Provost, Student Affairs 45.00 X 194711 0 45186 JOSEPH H DREISBACH PHD Interim Provost and SVP Acad Affairs 45.00 X 228821 0 48965 Patricia HarrINGTON Interim Assoc Provost, Institutional Effectiveness 45.00 X 206169 0 19987 BRIAN P CONNIFF PHD Dean, CAS 45.00 X 221123 0 42124 MICHAEL O MENSAH PHD Dean, KSOM 45.00 X 269927 0 136807 DEBRA A PELLEGRINO EDD Dean, PCPS 45.00 X 221794 0 28385 Murli Rajan PHD CFA Associate Dean, KSOM 45.00 X 175057 0 63794 S KINGSLEY GNANENDRAN PHD Professor 40.00 X 216470 0 38363 DOUGLAS M BOYLE DBA CPA CMA Assistant Professor 40.00 X 351861 0 98332 James F Boyle DBA CPA Assistant Professor 40.00 X 234356 0 110318 Iordania Petsas PhD Associate Professor 40.00 X 220436 0 19554 James Devers AVP for Facilities Operations 40.00 X 210669 0 20804 Harold W Baillie PhD Professor, Former Officer 45.00 X 127856 0 33350 Robert W Davis Chief of Staff, Former Officer 45.00 X 154002 0 39935 Patricia L Tetreault AVP for Human Resources, Former Officer 45.00 X 152677 0 41810 Robyn L Dickinson Director of Institutional Research, Former Officer 45.00 X 122027 0 36776 DONALD R BOOMGAARDEN PhD Professor, Former Officer 45.00 X 271619 0 48248 WILLIAM J WELSH PHD Professor, Former Key Employee 45.00 X 128271 0 21229 4687339 0 1161487 173 1 1 0 ARAMARK C/O UNIVERSITY OF SCRANTON SCRANTON PA 18510 FOOD SERVICE PROVIDER 11513172 AJ Guzzi Inc 9 Skyline Dr E Unit 1 Clarks Summit PA 18411 CONSTRUCTION CONTRACTOR 1701389 Derck & Edson Associates 33 S Broad St Lititz PA 17543 Construction CONTRACTOR 1087717 THE QUANDEL GROUP INC 4755 LINGLESTOWN ROAD HARRISBURG PA 17112 GENERAL CONTRACTOR 488174 Campus Works 1767 Lakewood Ranch Blvd 305 Bradenton FL 34211 IT Consultant 423297 19 924941 4231657 8734931 1388312 13891529 TUITION AND FEES 611310 177713306 177713306 AUXILIARY ENTERPRISES 721310 37438576 37438576 215151882 3467563 -5030 3472593 411028 328775 82253 82253 82253 42942040 37464057 873880 5477983 -873880 4604103 4604103 273430 924941 375521 -102091 -102091 EDUCATIONAL SUPPORT SERVICES 611710 1151684 1151684 Early Learning Center 624410 1068641 1068641 PRINT SHOP ACTIVITIES 323100 428322 426804 1518 232577 232577 2881224 239976463 216730370 1297706 8056858 66267847 66267847 3591360 2076136 1233929 281295 69410660 59068653 9117660 1224347 5338503 4400049 832491 105963 20374511 16366299 3765886 242326 4652126 3887985 668209 95932 250531 250531 129150 129150 100907 100907 20000 20000 852048 852048 2129620 775765 1208734 145121 678543 120672 543781 14090 2739006 2059094 543944 135968 1643147 779303 844212 19632 3358202 3358202 1024928 956238 51231 17459 1929681 1694130 196485 39066 6301643 6301643 13776711 12205902 1519502 51307 944296 748104 185185 11007 DIRECT FOOD COSTS 8865635 8865635 REPAIRS AND MAINTENANCE 4066385 2824385 1227463 14537 OTHER FOOD SERVICE EXPE 2515563 2287599 178032 49932 BOOKS AND PUBLICATIONS 2333089 1570847 639087 123155 5529835 3763804 1631744 134287 228823927 200378292 25619304 2826331 21185705 18401769 4372118 4943187 4936608 5503447 2886794 2801644 3777280 3827247 467257615 174682657 301784253 292574958 146419992 167996490 78552731 89211542 563915481 585260284 30719281 31224950 267430 374542 9072870 9364063 162880000 154265000 7346660 10568240 210286241 205796795 X 234783713 247704391 52554195 63942816 66291332 67816282 353629240 379463489 563915481 585260284 X 11152536 14514101 167612 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 5717 0 1 95190 100907 0 Part II-B, Line 1: Part II-B Line 1b - Our administrative staff in External Affairs spends a small part of their time meeting with our external consulting firm to discuss our legislative interests. Part II-B, Line 1g- The University paid for travel-related expenses for employees tasked with meeting legislators to identify potential grant opportunities. Part II-B Line i - The University contracted with a consulting firm to represent its interests in legislative and other governmental matters at both the state and federal levels. 251425 X X X X USED REGULARLY FOR TEACHING 0 162728402 5242579 22687425 4299601 2775506 852048 182731251 167924894 6519013 -5504792 2984984 2502767 722962 162728402 159282129 6712124 8172762 3074533 2376070 791518 167924894 137878712 6474855 21043959 3010984 2265381 839032 159282129 118987008 1900638 22018145 2470125 2021742 535212 137878712 0.34310 0.36540 0.29150 1 0 21248419 21248419 372801267 129936115 242865152 44944231 33468506 11475725 28263698 11278036 16985662 292574958 SILCHESTER INTERNATIONAL INVESTORS 13326657 F ABS OFFSHORE SPC CLASS B 9374166 F GROSVENOR CAPITAL MANAGEMENT 14723188 F MFS INTERNATIONAL GROWTH, LLC 12702102 F IR&M CORE BOND FUND, LLC 14974165 F PICTET EMERGING LOCAL CURRENCY DEBT FUND, LLC 2760572 F Mercer PIP IV LP 406520 F ABBOTT CAPITAL PRIVATE EQUITY FUND VII, L.P. 1546014 F PARK STREET CAPITAL PRIVATE EQUITY FUND XI, L.P 746309 F MERCER HEDGE FUND INVESTORS SP-I 10690841 F Copper Rock Int'l Small Cap 4269717 F Apollo Total Return Fund 3691291 F 89211542 SPLIT INTEREST AGREEMENTS 1847154 PREMIUMS ON UNIVERSITY BONDS 8656374 CAPITAL LEASE OBLIGATIONS 64712 10568240 X 190133521 14514101 -65230923 -50716822 240850343 -873880 -873880 239976463 164466884 873880 873880 163593004 65230923 65230923 228823927 Part III, Line 4: THE SPECIAL COLLECTIONS DEPARTMENT OF THE WEINBERG MEMORIAL LIBRARY PROVIDES EXHIBITS, PROGRAMMING AND INSTRUCTION THAT REACH OUT TO BOTH THE UNIVERSITY COMMUNITY AND THE GENERAL PUBLIC. SPECIAL COLLECTIONS CONTAINS HISTORICAL COLLECTIONS AND A RARE BOOK COLLECTION THAT RANGES FROM MEDIEVAL MANUSCRIPTS AND EARLY PRINTED BOOKS THROUGH 20TH CENTURY FIRST EDITION AND FINE PRESS WORK. MUCH OF THE COLLECTION WAS DONATED OR ACQUIRED OVER MANY DECADES. INCLUDED IN THE COLLECTION IS A COMPONENT FOCUSING ON RARE BOOKS PRODUCED BY THE JESUIT COMMUNITY. Part V, Line 4: THE UNIVERSITY'S ENDOWMENT IS USED TO PROVIDE SCHOLARSHIPS TO STUDENTS AND TO OFFSET FACULTY SALARIES AND OTHER OPERATING EXPENSES. Part X, Line 2: The University is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes is made in the financial statements. Tax positions are recognized or reversed by the University based on a "more likely than not" threshold. This applies to positions taken or expected to be taken in a tax return. The University does not believe its financial statements include any uncertain tax positions. The University's Form 990, Return of Organization Exempt from Income Tax for the years ended May 31, 2013 through May 31, 2016 remain subject to examination by the Internal Revenue Service. Part XI, Line 2d - Other Adjustments: Rental expenses deducted from gross rent revenue 328,775. Fundraising direct expenses deducted from gross fundraising income 375,521. Reclassification of bond premium amortization as a contra-expense 332,628. Tuition and fee revenue offset by institutionally funded student aid -66,267,847. Part XI, Line 4b - Other Adjustments: disposal of fixed assets netted against expenses -873,880. Part XII, Line 2d - Other Adjustments: disposal of fixed assets netted against expenses 873,880. Part XII, Line 4b - Other Adjustments: rental expenses deducted from gross rent revenue -328,775. Fundraising direct expenses deducted from gross fundraising income -375,521. Reclassification of bond premium amortization as a contra-expense -332,628. Institutionally funded student financial aid 66,267,847. 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 University's notice of non-discrimination is widely posted on University web pages, at various locations on campus, and contained in electronic and printed publications for general distribution, applicable bulletins, annoucements, publications, catalogs, application forms, and recruitment materials. The University is governed by an independent Board of Trustees and welcomes persons of all races and religious persuasions as members of its student body, faculty, staff and administration. The University is an affirmative action institution. As such,the University is committed to equal opportunity in employment and education without regard to race, color, religion, ancestry, sex, age, disability, national origin, or veteran status in accordance with applicable laws. continued below. Schedule E, Part I, Line 6 The University receives operating funds designated by both federal and state government funding agencies for specific operating purposes. The University also receives financial aid funds for its students from both federal and state funding agencies and acts as the custodian and disbursing agent for these funds. Line 3 continuation: The University values the benefits of diversity. It is committed to creating a community which recognizes the inherent value and dignity of each person. As such, the University promotes an awareness of and sensitivity towards differences of race, gender, ethnicity, national origin, culture, sexual orientation, religion, age, and disabilities, among students, faculty, staff and administrators. Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 INVESTMENTS 9374166 Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 PROGRAM SERVICES STUDENT SERVICE LEARNING TRIP EXPENSES 42448 East Asia and the Pacific - Australia, Brunei, Burma, Cambodia, 0 0 PROGRAM SERVICES STUDENT STUDY ABROAD TUITION, FEES, ROOM & BOARD 129746 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium 0 0 PROGRAM SERVICES STUDENT STUDY ABROAD TUITION, FEES, ROOM & BOARD; STUDENT TRAVEL COURSES; ACADEMIC CONFERENCE FEE 294598 Middle East and North Africa - Algeria, Bahrain, Djibouti, Egypt, 0 0 PROGRAM SERVICES ACADEMIC CONFERENCE FEE 32531 North America - Canada and Mexico, but not the United States 0 0 PROGRAM SERVICES STUDENT SERVICE LEARNING TRIP EXPENSES 6352 South America - Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador, 0 0 PROGRAM SERVICES STUDENT SERVICE LEARNING TRIP EXPENSES 1904 South Asia - Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, 0 1 PROGRAM SERVICES STUDENT RECRUITMENT EXPENSES 3000 0 1 0 0 0 1 9884745 0 9884745 1 0 0 1 0 0 X X X X X X X 0 Roberts Event Group 491 York Road Jenkintown PA 19046 EVENT MANAGEMENT 0 994421 20000 974421 994421 20000 974421 AK CO MA NH PA WA DINNER 994421 815756 178665 168196 1500 102541 Golf Tourney 203950 109185 94765 6951 93682 2651 1198371 924941 273430 6951 261878 1500 105192 375521 -102091 1 UNIVERSITY FUNDED GRANTS/ASSISTANCE 3609 66267847 n/a N/A Part I, Line 2: All University students are considered for grants and/or assistance. The University's Financial Aid Office evaluates each student's financial need based upon information provided on the Free Application for Federal Student Aid (FAFSA). Financial Aid Office management award merit scholarships to students who qualify based upon donor stipulations and award federal, state, and private need-based awards based on federal or other guidelines. Students receiving awards provide information and participate in interviews to ensure that guidelines and residency rules and regulations are met. X X 1 1 X X X X 1 0 0 0 0 0 0 0 0 EDWARD J STEINMETZ CPA SVP Finance/Treasurer 311829 0 0 0 0 0 26500 0 19283 0 357612 0 0 0 GARY R OLSEN VP University Advancement 232927 0 0 0 0 0 23677 0 28242 0 284846 0 0 0 ROBERT B FARRELL ESQ General Counsel 216790 0 0 0 0 0 20908 0 23115 0 260813 0 0 0 GERALD C ZABOSKI VP External Affairs 196764 0 0 0 0 0 19452 0 76591 0 292807 0 0 0 Anitra M MCSHEA Vice Provost, Student Affairs 194711 0 0 0 0 0 20456 0 24730 0 239897 0 0 0 JOSEPH H DREISBACH PHD Interim Provost and SVP Acad Affairs 228821 0 0 0 0 0 22854 0 26111 0 277786 0 0 0 Patricia HarrINGTON Interim Assoc Provost, Institutional 206169 0 0 0 0 0 19478 0 509 0 226156 0 0 0 BRIAN P CONNIFF PHD Dean, CAS 221123 0 0 0 0 0 17593 0 24531 0 263247 0 0 0 MICHAEL O MENSAH PHD Dean, KSOM 269927 0 0 0 0 0 22926 0 113881 0 406734 0 0 0 DEBRA A PELLEGRINO EDD Dean, PCPS 221794 0 0 0 0 0 19399 0 8986 0 250179 0 0 0 Murli Rajan PHD CFA Associate Dean, KSOM 175057 0 0 0 0 0 17792 0 46002 0 238851 0 0 0 S KINGSLEY GNANENDRAN PHD Professor 216470 0 0 0 0 0 13633 0 24730 0 254833 0 0 0 DOUGLAS M BOYLE DBA CPA CMA Assistant Professor 351861 0 0 0 0 0 14378 0 83954 0 450193 0 0 0 James F Boyle DBA CPA Assistant Professor 234356 0 0 0 0 0 12607 0 97711 0 344674 0 0 0 Iordania Petsas PhD Associate Professor 220436 0 0 0 0 0 9390 0 10164 0 239990 0 0 0 James Devers AVP for Facilities Operations 210669 0 0 0 0 0 7615 0 13189 0 231473 0 0 0 Harold W Baillie PhD Professor, Former Officer 127856 0 0 0 0 0 12700 0 20650 0 161206 0 0 0 Robert W Davis Chief of Staff, Former Officer 154002 0 0 0 0 0 15404 0 24531 0 193937 0 0 0 Patricia L Tetreault AVP for Human Resources, Former Offi 152677 0 0 0 0 0 15875 0 25935 0 194487 0 0 0 Robyn L Dickinson Director of Institutional Research, 122027 0 0 0 0 0 12170 0 24606 0 158803 0 0 0 DONALD R BOOMGAARDEN PhD Professor, Former Officer 271619 0 0 0 0 0 27519 0 20729 0 319867 0 0 0 WILLIAM J WELSH PHD Professor, Former Key Employee 128271 0 0 0 0 0 12835 0 8394 0 149500 0 0 0 Part I, Line 1a The University provides on-campus housing for Rev. Kevin P. Quinn, S.J., President. The estimated value of housing is $17,668. The housing values are based upon residence hall rates charged to University students. The housing value is included in the President's compensation disclosed in Part VII of the Form 990. The University pays for initiation fees and monthly dues for a membership for the President to the Scranton Country Club. The University also pays for the annual membership fees for the Vice President for University Advancement in his role at the following social clubs: Pyramid Club of Philadelphia, Hamilton Farm Golf Club of Gladstone, NJ, and Glenmaura National Golf Club of Moosic, PA. These memberships are used by senior administrators to host meetings with business partners of the University, Board of Trustees members, potential donors, and faculty and staff. Membership in these clubs allows for reciprocal use of other related venues within the United States. These reciprocal agreements allow senior administration to host quality business and fundraising events outside the Commonwealth of Pennsylvania. Part I, Line 3 The Executive Compensation Committee of the Board of Trustees reviews appropriate analyses and studies prepared by the Human Resources Office or external sources to aid in evaluating compensation and benefits and strategies to attract and retain qualified personnel for senior executive administrative positions. The Committee annually reviews and approves compensation and benefits for senior administrators and officers of the University. This review includes comparable market data for positions at other higher education institutions. The Committee reports to the Executive Committee of the Board of Trustees the total compensation paid to the University's president and vice presidents. The Committee reviews the recommendations of, and advises, the President as to the individual employment contracts that are above and beyond the scope of the University's base compensation and benefits structure. Part I, Line 4a Donald R. Boomgaarden, former officer, and William J. Welsh, former key employee, Received payments under a severance agreement during the year 2016. Those amounts were $196,712 and $93,351, respectively. A Scr-Lackawanna HealthWelfare Authority 232205980 810694K73 2016-07-07 29240908 See part VI 0 0 0 B City of Wilkes-Barre Financing Authority 205684698 968254BT8 2015-08-04 39134183 See part VI 0 0 0 C CITY OF WILKES-BARRE FINANCING AUTHORITY 205684698 968254AX0 2010-09-09 67855761 See part VI 0 0 0 D NE PA HOSPITAL & EDUCATION AUTHORITY 237394107 2014-09-11 20000000 See part VI 0 0 0 A 29240908 308557 28932351 2016 0 1 1 1 B 39134183 288533 38845650 2015 1 1 1 1 C 3280000 67855761 568398 67287363 2011 0 0 1 1 D 100000 20000000 101773 19898227 2015 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 B 0 0 1 1 0 0.00000 0.00000 0.00000 1 0 0 C 0 0 1 1 0 0.00000 0.00000 0.00000 1 0 0 D 0 0 1 1 0 0.00000 0.00000 0.00000 1 0 0 A 0 0 0 1 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 D 0 1 0 0 1 0 0 0 1 A 1 B 1 C 1 D 1 Schedule K, Part I, Bond Issues: Bond Issue A: (A) Issuer Name: Scranton-Lackawanna Health and Welfare Authority (F) Description of Purpose: Refunding of Series 2007 Bonds, which were issued 10/12/07 Bond Issue B: (A) Issuer Name: City of Wilkes-Barre Financing Authority (F) Description of Purpose: Refunding of 2006 Bonds, which were issued 03/02/06 Bond Issue C: (A) Issuer Name: City of Wilkes-Barre Financing Authority (F) Description of Purpose: Financing the construction of a new Loyola Science Center and a multi-purpose 400-bed residence hall Bond Issue D: (A) Issuer Name: Northeastern Pennsylvania Hospital and Education authority (F) Description of Purpose: Partial financing for construction of a new rehabilitation education center. Schedule K, Part III, Line 9: The University has procedures in place but no written policy to ensure compliance with these requirements. The University is working to finalize a formal written policy. Schedule K, Part IV, Arbitrage, Line 2c Bond Issue A: (A) Issuer Name: Scranton-Lackawanna Health and Welfare Authority Date the rebate computation was performed: 11/22/2016 Bond Issue C: (A) Issuer Name: City of Wilkes-Barre Financing AUthority Date the rebate computation was performed: 12/15/2014 Elizabeth Murphy Spouse of Trustee 178656 Ms. Murphy serves as the CEO of CampusWorks, Inc. The University engaged CampusWorks to provide CIO support and to perform business process review services. The spousal relationship was fully disclosed to the University's Board of Trustees. Ms. Murphy's spouse recused himself from the decision-making process when evaluating CampusWorks as a vendor. The Board of Trustees believes the choice of vendor is in the best interest of the University. 0 X 1 25000 Appraisal X 1575 Donor appraisal & receip X 29 1328510 Mid Point Stock Value X 1 1800 Bond Face Value X 12 29517 Receipts X 1 560 Receipts X Gift Card 2 1000 Face Value X Musical Instruments 1 350 Donor Appraisal 0 1 1 Part I, Line 32b: The University of Scranton utilitizes our primary banking partner, PNC Bank, to sell all stock gifts at market value as they are received. Form 990, Part VI, Section A, line 2 The President of the University, Rev. Kevin P. Quinn, S.J. is a member of the Scranton Jesuit Community and the Maryland Province of the Society of Jesus. Other clergy that are members of the Board of Trustees may also be members of the Maryland Province of the Society of Jesus. Form 990, Part VI, Section B, line 11b The Form 990 is prepared in-house based upon the amounts reported in the audited financial statements. The draft Form 990 is completed by Treasurer's Office personnel and is reviewed by independent tax advisors and by the University's Senior Vice President (SVP) for Finance and Administration before being sent to the Audit Committee for review and approval. The Audit Committee has approximately a one-week period prior to the regularly scheduled Board meeting to comment on the draft and appropriate revisions are made based upon those comments. The revised draft is then made available to the full Board of Trustees on a secure University website. At the regular Board meeting the Board formally adopts the Form 990 as final and authorizes the University's SVP for Finance and Administration to file the Form 990 with the IRS. An identical and simultaneous process is followed to file the University's annual Form 990-T. Form 990, Part VI, Section B, line 12c The University's Secretary to the Board of Trustees explains and collects completed Conflict of Interest statements. The statements are disseminated to members of the Board of Trustees, officers, those involved in managing facilities and procurement, and individuals managing grant-funded projects. These statements are reviewed by the Secretary, the Internal Auditor, and Management. The Secretary attends all Board meetings where actions are voted upon to ensure that individuals with potential or actual conflicts refrain from 1) participating in discussion, 2) being present during a vote, or 3) voting upon the matter involving the potential or actual conflict of interest. Form 990, Part VI, Section B, line 15 The Executive Compensation Committee of the Board of Trustees reviews appropriate analyses and studies prepared by the Human Resources Office or external sources to aid in evaluating compensation and benefits and strategies to assure they are appropriate to attract and retain qualified personnel for senior executive administrative positions. The Committee annually reviews and approves compensation and benefits for senior administrators and officers of the University. This review includes comparable market data for positions at other higher education institutions. The Committee reports to the Executive Committee the total compensation paid the University's President and Vice Presidents. The Committee reviews the recommendations of, and advises, the President as to individual contracts that are above and beyond the scope of the University's base compensation and benefits structure. These reviews are documented in the minutes. Form 990, Part VI, Section C, line 19 The University makes its governing documents, conflicts of interest policy, and financial statements available to the public. Much of this information is also available in the University's annual information return on Form 990 filed with the Internal Revenue Service. The Form 990 and the other documents noted above are available to the public at the University's Treasurer's Office. The Form 990 is also available to the public online at "www.guidestar.org." Form 990, Part XI, line 9: CHANGE IN VALUE OF SPLIT INTEREST LIABILITY 167,612. FORM 990, PART VII, LINE 14 Both the University's President and its Vice President for University Ministries are members of the Society of Jesus. Members of the Society of Jesus take a vow of poverty. Compensation for these University officer positions is paid directly to their order which is exempt under section 501(c)(3). Under Rev. Rul. 77-290 members of a religious order providing services to a Catholic organization will be considered for tax purposes to be an agent of the order provided; 1) the religious order is subject to a vow of poverty, 2) the religious order is providing services for a Catholic organization listed in the Official Catholic Directory at the direction of his superior and 3) the full amount of compensation is remitted to the tax exempt order by the organization. FORM 990, PART XII, LINE 2C The Audit Committee of the University's Board of Trustees is appointed by the Board to assist the Board in the discharge of its oversight responsibilities. The Audit Committee oversees the financial reporting process to ensure the balance, transparency and integrity of published financial information. The Audit Committee also reviews the independent audit process, including recommending the appointment and assesing the performance of the external auditors. FORM 990, PART VI, SECTION B, LINES 16A AND 16B The University has entered into joint venture arrangements with two private on-line education partners to provide technical, recruitment, and marketing support for its online MBA and online graduate education degree programs. The University evaluates all potential joint ventures to determine whether the activities will generate unrelated business income. The Treasurer's Office is involved in discussions with potential business partners and advises as to whether or not joint venture relationships could be detrimental to the University's tax-exempt status. The current joint ventures with online education providers constitute activities central to the University's mission.