2017-04-13T19:04:27-05:00 2016-06-30 WithumSmithBrown PC 465 South St Ste 200 Morristown NJ 079606497 990 2015-07-01 221508627 SAINT PETER'S UNIVERSITY % DENTON L STARGEL SAIN 2017617425 2641 KENNEDY BOULEVARD JERSEY CITY NJ 073065943 DENTON L STARGEL VP OF FINANCE 2017617425 2017-04-10 true Anthony J Panico P00365556 9738989494 2015 2017-02-10 21:41:12Z EUGENE J CORNACCHIA PHD 2641 KENNEDY BOULEVARD JERSEY CITY NJ 073065943 110515583 false 0928 X WWW.SAINTPETERS.EDU X 1872 NJ SAINT PETER'S UNIVERSITY EDUCATES A DIVERSE COMMUNITY OF LEARNERS IN UNDERGRADUATE, GRADUATE AND PROFESSIONAL PROGRAMS TO EXCEL, LEAD, SERVE AND PROMOTE. 31 29 1402 80 -25560 -25560 7275359 6219910 97811421 102243891 3560987 763225 336473 316774 108984240 109543800 37283188 40324236 0 0 33066167 35468454 171436 0 2614127 32936635 34943401 103457426 110736091 5526814 -1192291 134146988 132987537 91950389 97171474 42196599 35816063 X SAINT PETER'S UNIVERSITY, INSPIRED BY ITS JESUIT, CATHOLIC IDENTITY, COMMITMENT TO INDIVIDUAL ATTENTION AND GROUNDING IN THE LIBERAL ARTS, EDUCATES A DIVERSE COMMUNITY OF LEARNERS IN UNDERGRADUATE, GRADUATE AND PROFESSIONAL PROGRAMS TO EXCEL INTELLECTUALLY, LEAD ETHICALLY, SERVE COMPASSIONATELY AND PROMOTE JUSTICE IN OUR EVER-CHANGING URBAN AND GLOBAL ENVIRONMENT. false false 66094058 40324237 90432120 INSTRUCTION AND ACADEMIC SUPPORT - THE UNIVERSITY PROVIDES ACCREDITED COURSES AND OTHER RELATED SERVICES TO APPROXIMATELY 3,300 STUDENTS, INCLUDING BOTH DAY AND EVENING SESSIONS, FOR FULL-TIME OR PART-TIME UNDERGRADUATE (45 PROGRAMS) AND SEVERAL GRADUATE STUDY PROGRAMS. FINANCIAL AID IS AWARDED TO STUDENTS FROM INSTITUTIONAL SOURCES BASED ON ACADEMIC ACHIEVEMENT, ATHLETIC ABILITY AND NEED. 23308097 0 10534418 STUDENT SERVICES - INCLUDES ENROLLMENT SERVICES, REGISTRAR, HEALTH AND COUNSELING PROGRAMS, FINANCIAL AID, CAMPUS MINISTRY, STUDENT CLUBS AND ORGANIZATIONS, INTERCOLLEGIATE AND INTRAMURAL SPORTS AND ACTIVITIES, AND STUDENT HOUSING. 3852908 0 1251793 SPONSORED PROGRAMS - INCLUDES VARIOUS PRIVATE PROGRAMS FOR THE BENEFIT OF THE STUDENT BODY, SUCH AS ACADEMIC ENRICHMENT, ACADEMIC CHAIRS, CAPITAL CAMPAIGN, AND VARIOUS ENDOWED SCHOLARSHIPS. 93255063 true true false false false false false true true true true false true true true true false true true false false false false true true false false false true true true false false false false false false false false false false false false false false false true true true false false true 263 0 true 1402 true true true false false false false true true false false false false X 31 29 false false false false false false false true false false false true true true true true true true true false AK AR CA CO CT DE KY LA MD MA MI MN MT NH NJ OH SC WA X DENTON L STARGEL 2017617425 2641 KENNEDY BOULEVARD JERSEY CITY NJ 073065943 X THOMAS P MAC MAHON CHAIR - TRUSTEE 1.0 0.0 X X 0 0 0 FRANCIS A MCGRAIL VICE CHAIR - TRUSTEE 1.0 0.0 X X 0 0 0 CAROL B BASTEK EDD TRUSTEE 1.0 0.0 X 0 0 0 NOREEN D BEAMAN CPA TRUSTEE 1.0 0.0 X 0 0 0 KENNETH BOLLER SJ TRUSTEE 1.0 0.0 X 0 0 0 CLAUDIO M BURGALETASJPHD TRUSTEE 1.0 0.0 X 0 0 0 ANNETTE D CORBIN TRUSTEE 1.0 0.0 X 0 0 0 EUGENE J CORNACCHIA PHD EX-OFFICIO TRUSTEE - PRESIDENT 55.0 0.0 X X 359363 0 99493 JOSEPH CONSTANTINO SJ TRUSTEE 1.0 0.0 X 0 0 0 ROBERT A CUTRO TRUSTEE 1.0 0.0 X 0 0 0 KEVIN J DOWNES TRUSTEE 1.0 0.0 X 0 0 0 FRANCIS FEKETE CPA TRUSTEE 1.0 0.0 X 0 0 0 ROBERT J GOLDSTEIN TRUSTEE 1.0 0.0 X 0 0 0 JOSEPH GROMEK TRUSTEE 1.0 0.0 X 0 0 0 KEVIN P GUCKIAN TRUSTEE 1.0 0.0 X 0 0 0 MARK G KAHRER TRUSTEE 1.0 0.0 X 0 0 0 RICHARD P LIBRETTI TRUSTEE 1.0 0.0 X 0 0 0 KATHLEEN M MCKENNA ESQ TRUSTEE 1.0 0.0 X 0 0 0 PAMELA T MILLER TRUSTEE 1.0 0.0 X 0 0 0 SUSAN P MITCHELL-ABBATE TRUSTEE 1.0 0.0 X 0 0 0 JOSEPH A PANEPINTO ESQ TRUSTEE 1.0 0.0 X 0 0 0 SHARON A PASTORE TRUSTEE 1.0 0.0 X 0 0 0 MICHELLE PEREZ TRUSTEE 1.0 0.0 X 0 0 0 ANTHONY O PERGOLA ESQ TRUSTEE 1.0 0.0 X 0 0 0 FAUSTO ROTUNDO CPA TRUSTEE 1.0 0.0 X 0 0 0 RALPH R RUSSO TRUSTEE 1.0 0.0 X 0 0 0 ALLAN S STEWART MD TRUSTEE 1.0 0.0 X 0 0 0 ROBERT L TORTORIELLO ESQ TRUSTEE 1.0 0.0 X 0 0 0 KATHLEEN A TYRRELL ESQ TRUSTEE 1.0 0.0 X 0 0 0 ELNARDO J WEBSTER EDD TRUSTEE - GRANT PROJECT DIR. 55.0 0.0 X 90000 0 4500 RAYMOND A YANNUZZI DA TRUSTEE 1.0 0.0 X 0 0 0 DENTON L STARGEL VP OF FINANCE & BUSINESS 55.0 0.0 X 193157 0 18749 JEFFREY HANDLER MA VP FOR ENROLLMENT MGMT & MKTG 55.0 0.0 X 181289 0 17875 FATHER MICHAEL L BRADEN SJ VP MISSION & MINISTRY (SCH O) 55.0 0.0 X 0 0 0 LEAH M LETO ED VP ADVANCEMENT & EXT. AFFAIRS 55.0 0.0 X 165639 0 26207 VIRGINIA BENDER PHD SEC/SPEC ASST TO PRES INST PLN 55.0 0.0 X 144442 0 13118 MILOS TOPIC VP OF IT & OPERATIONS 55.0 0.0 X 112301 0 38629 GERARD O'SULLIVAN VP OF PROVOST/ACADEMIC 55.0 0.0 X 78703 0 40125 JOHN E DUNNE MENS' BASKETBALL COACH 55.0 0.0 X 214359 0 15043 GERARD PROTOMASTRO PROFESSOR OF MATHEMATICS 55.0 0.0 X 155157 0 6908 JAMES P JACOBSON ASSOC PROFESSOR OF EDUCATION 55.0 0.0 X 155032 0 11906 LEONARD J SCIORRA SCHUH PROFESSOR 55.0 0.0 X 151527 0 7858 DAVID SURREY PROFESSOR OF SOCIOLOGY 55.0 0.0 X 132544 0 29267 2133513 0 329678 42 false true false SODEXO INC 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20878 FOOD MANAGEMENT 3778140 ARAMARK 1101 MARKET STREET PHILADELPHIA PA 19107 FACILITIES MGMT 1966369 ELLUCIAN INC 4375 FAIR LAKES COURT FAIRFAX VA 22033 IT 1901748 GATEWAY SECURITY INC 604-608 MARKET STREET NEWARK NJ 07105 CAMPUS SECURITY 1566620 COLLINS BUILDING SERVICES INC 24-01 44TH ROAD 15TH FLOOR LONG ISLAND CITY NY 11101 CUSTODIAL 1289447 32 X 58304 2230209 3931397 6219910 TUITION AND FEES 900099 90432120 90432120 AUXILIARY ENTERPRISES 900099 10534418 10534418 OTHER PROGRAM RELATED REVENUE 900099 1277353 1277353 102243891 835588 835588 0 0 846674 528816 317858 0 317858 -25560 343418 209749 282112 209749 -282112 -72363 -72363 159771 58304 160855 -1084 -1084 0 0 0 109543800 102243891 -25560 1105559 0 40324236 40324236 0 0 1679301 1372492 220818 85991 0 27056865 21851602 3744083 1461180 702763 510279 137708 54776 3792601 3478851 229369 84381 2236924 1571506 556994 108424 916984 221084 483912 211988 417517 417517 140203 140203 0 0 0 118471 0 118471 0 1084831 902485 47171 135175 1270573 751007 321321 198245 4190156 515685 3671898 2573 0 7662272 7132327 514018 15927 954713 781246 151778 21689 0 1721386 1257320 302777 161289 2423411 1837511 585900 0 3760126 4031517 -271391 410717 193806 216911 ATHLETICS 723329 723329 0 0 DATABASE 319189 319189 0 0 RECRUITING 228179 0 228179 0 STUDENT MEAL PLAN 98513 0 98513 0 8502831 5479591 2950751 72489 110736091 93255063 14866901 2614127 X 1930751 5708157 1015471 939089 3535566 2736976 4269201 4170000 0 0 0 0 0 0 0 0 460833 551816 126061678 69282373 57594370 56779305 0 0 0 0 33399810 31085559 1498834 1279675 30442152 29736960 134146988 132987537 20570580 25886651 143473 40791 2727001 2776642 47710052 43789546 3870 3870 0 0 15098135 18307978 0 0 5697278 6365996 91950389 97171474 X 5583746 -319538 13564357 12160675 23048496 23974926 42196599 35816063 134146988 132987537 X -1192291 -1054224 124406 -4258427 X X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X false true 3870 3870 true X 30999878 926430 -7357 1460248 30458703 31052934 565963 695295 1314314 30999878 28759493 649951 4412972 2769482 31052934 27307304 324591 2638251 1510653 28759493 29017075 339191 -468329 1324052 256581 27307304 0.04920 0.78740 0.16340 true false 8535542 8535542 92359896 49205299 43154597 1710622 1330750 379872 21562353 18557442 3004911 1893265 188882 1704383 56779305 CASH & CASH EQUIVALENTS 1183461 F MONEY MARKET FUNDS 380019 F CORPORATE STOCKS 7842352 F CORPORATE BONDS 1338161 F MUTUAL FUNDS 17902656 F CLOSED END FUNDS 593269 F US GOVERNMENT SECURITIES 700435 F LIMITED PARTNERSHIPS 1145206 F 31085559 INSURANCE POLICIES 242200 DUE FROM AFFILIATE 28887569 OTHER RECEIVABLES 607191 LAND HELD FOR SALE 0 29736960 0 ANNUITY PAYMENT OBLIGATIONS 1261792 OBLIGATIONS 486977 INTEREST RATE SWAP AGREEMENTS 4617227 6365996 X SCHEDULE D, PART III; QUESTION 4 SAINT PETER'S UNIVERSITY COLLECTIONS INCLUDE ART WORKS, PAINTINGS, SCULPTURES, POSTERS, DOCUMENTA AND OTHER ARTIFACTS, AND ARE ALL EMPLOYED IN THE EDUCATION OF STUDENTS ON THE WORLD'S RICH, HISTORICAL AND CULTURAL TRADITIONS. SCHEDULE D, PART IV THIS AMOUNT REPRESENTS TENANT RENT SECURITY DEPOSITS HELD IN ESCROW. SCHEDULE D, PART V SAINT PETER'S UNIVERSITY ENDOWMENT CONSISTS OF APPROXIMATELY 153 INDIVIDUAL FUNDS ESTABLISHED MAINLY FOR SCHOLARSHIPS. ITS ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. AS REQUIRED BY ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE UNIVERSITY'S ENDOWMENT FUNDS ARE USED TO FURTHER ITS EXEMPT PURPOSES BY PROVIDING SCHOLARSHIPS, CONSTRUCTING FACILITIES AND FUNDING THE GENERAL ACTIVITIES AND OPERATIONS OF THE UNIVERSITY. SCHEDULE D, PART X AN INDEPENDENT CPA FIRM AUDITED THE CONSOLIDATED FINANCIAL STATEMENTS OF SAINT PETER'S UNIVERSITY AND AFFILIATES FOR THE YEARS ENDED JUNE 30, 2016 AND JUNE 30, 2015; RESPECTIVELY, AND ISSUED AUDITED CONSOLIDATED FINANCIAL STATEMENTS. THE FOLLOWING IS THE TEXT OF THE FOOTNOTE IN THE ORGANIZATION'S FISCAL YEAR ENDED JUNE 30, 2016 AUDITED CONSOLIDATED FINANCIAL STATEMENTS THAT REPORTS THE UNIVERSITY'S LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER FIN 48 (ASC 740): SAINT PETER'S UNIVERSITY AND SAINT PETER'S COLLEGE REALTY HOLDING CORP., INC. ARE EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND A SIMILAR PROVISION OF THE NEW JERSEY STATE INCOME TAX LAWS. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN REFLECTED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. SAINT PETER'S UNIVERSITY HAS NO UNRECOGNIZED TAX BENEFITS AT JUNE 30, 2016 AND 2015 AND INCURRED NO INTEREST AND PENALTIES FOR THE YEARS ENDED JUNE 30, 2016 AND 2015. true true true true true true true false false false false false false false false true false true SCHEDULE E, PART I, QUESTION 3 THE SAINT PETER'S UNIVERSITY ("UNIVERSITY") RACIALLY NONDISCRIMINATORY POLICY IS DESCRIBED IN ALL LITERATURE PUBLISHED FOR GENERAL DISTRIBUTION, WITHIN THE STUDENT HANDBOOK AND ON THE UNIVERSITY'S WEBSITE. SCHEDULE E, PART I, QUESTION 6A SAINT PETER'S UNIVERSITY ("UNIVERSITY") PARTICIPATES IN VARIOUS FEDERAL AND STATE FINANCIAL AID PROGRAMS FOR THE BENEFIT OF STUDENTS WHO ATTEND THE UNIVERSITY. THESE PROGRAMS HAVE STRICT REQUIREMENTS FOR PARTICIPATION AND THE UNIVERSITY IS SUBJECT TO GOVERNMENT PROGRAM REVIEWS COVERING COMPLIANCE WITH LAWS AND REGULATIONS. SPECIFIC AREAS OF REVIEW INCLUDE STUDENT PROGRAM ELIGIBILITY, COORDINATION OF FINANCIAL AID PROGRAMS AND OTHER MATTERS. X X X X X X X true RUFFALO NOEL LEVITZ TELEMKTING false 80378 62635 17744 GRAHAM PELTON ASSOCIATES INC STATEGIC ADVICE false 0 39602 -39602 ROYAL COMPANY RECRUITMENT false 0 259759 -259759 80378 361996 -281617 AL AK AZ AR CA CO CT DE DC FL GA HI IL KS KY LA ME MD MA MI MN MS MO MT NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN UT VA WA WV WI SYMPOSIUM 74655 74655 8624 46440 20675 GOLF 116061 51985 64076 808 7250 28554 9500 17964 2 27359 6319 21040 20494 476 70 218075 58304 159771 808 27744 37178 56416 38709 160855 -1084 true SCHOLARSHIPS 2656 40324236 SCHEDULE I, PART I; QUESTION 2 SAINT PETER'S UNIVERSITY ("UNIVERSITY") PROVIDES SCHOLARSHIPS TO STUDENTS MATRICULATING AT THE UNIVERSITY FOR VARIOUS REASONS INCLUDING, BUT NOT LIMITED TO, ACADEMIC PERFORMANCE, STUDENT INSTITUTIONAL AID AND ATHLETICS. THEREFORE, ALL FUNDS GRANTED ARE USED TO DEFRAY THE COST OF TUITION AND NO FURTHER MONITORING OF THE GRANTS IS REQUIRED. X true true X X X false true false false false false false true false EUGENE J CORNACCHIA PHD EX-OFFICIO TRUSTEE - PRESIDENT 305967 0 35000 0 18396 0 34575 0 64918 0 458856 0 0 0 DENTON L STARGEL VP OF FINANCE & BUSINESS 188157 0 0 0 5000 0 9234 0 9515 0 211906 0 0 0 JEFFREY HANDLER MA VP FOR ENROLLMENT MGMT & MKTG 175893 0 0 0 5396 0 9010 0 8865 0 199164 0 0 0 LEAH M LETO ED VP ADVANCEMENT & EXT. AFFAIRS 160639 0 0 0 5000 0 8160 0 18047 0 191846 0 0 0 VIRGINIA BENDER PHD SEC/SPEC ASST TO PRES INST PLN 141578 0 0 0 2864 0 0 0 13118 0 157560 0 0 0 MILOS TOPIC VP OF IT & OPERATIONS 112301 0 0 0 0 0 3602 0 35027 0 150930 0 0 0 JOHN E DUNNE MENS' BASKETBALL COACH 37159 0 85000 0 92200 0 6474 0 8569 0 229402 0 0 0 GERARD PROTOMASTRO PROFESSOR OF MATHEMATICS 115153 0 0 0 40004 0 0 0 6908 0 162065 0 0 0 JAMES P JACOBSON ASSOC PROFESSOR OF EDUCATION 72813 0 0 0 82219 0 0 0 11906 0 166938 0 0 0 LEONARD J SCIORRA SCHUH PROFESSOR 131786 0 0 0 19741 0 6619 0 1239 0 159385 0 0 0 DAVID SURREY PROFESSOR OF SOCIOLOGY 87690 0 0 0 44854 0 5439 0 23828 0 161811 0 0 0 PART VII AND SCHEDULE J IN ACCORDANCE WITH FORM 990 INSTRUCTIONS FOR TAXPAYERS WITH A FISCAL YEAR END, TAXABLE COMPENSATION REPORTED HEREIN IS DERIVED FROM 2015 FORMS W-2. SCHEDULE J, PART I; QUESTION 1 THE PRESIDENT, EUGENE J. CORNACCHIA, PH.D., RESIDES IN A UNIVERSITY-OWNED PROPERTY AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE UNIVERSITY. THE FAIR MARKET VALUE OF THE UNIVERSITY-OWNED PROPERTY AMOUNTED TO APPROXIMATELY $52,983 IN 2015 AND WAS NOT INCLUDED AS TAXABLE WAGES ON THE PRESIDENT'S 2015 FORM W-2. SCHEDULE J, PART I; QUESTION 4B EUGENE J. CORNACCHIA, PH.D., PRESIDENT, PARTICIPATED IN AN INTERNAL REVENUE CODE SECTION 457(b) NON-QUALIFIED DEFERRED COMPENSATION PLAN. SCHEDULE J, PART I; QUESTION 7 CERTAIN INDIVIDUALS INCLUDED IN SCHEDULE J, PART II RECEIVED A BONUS DURING CALENDAR YEAR 2015 WHICH AMOUNTS WERE INCLUDED IN COLUMN B(II) HEREIN AND IN EACH INDIVIDUAL'S 2015 FORM W-2, BOX 5, AS TAXABLE MEDICARE WAGES. PLEASE REFER TO THIS SECTION OF THE FORM 990, SCHEDULE J FOR THIS INFORMATION BY PERSON BY AMOUNT. A NJ EDUCATIONAL FACILITIES AUTHORITY 221829511 2008-07-01 5000000 FUND CAPITAL PROJECTS false false false B NJ EDUCATIONAL FACILITIES AUTHORITY 221829511 2007-12-28 36053466 REFINANCE EXISTING DEBT & FUND CAP true true true C NJ EDUCATIONAL FACILITIES AUTHORITY 221829511 2011-09-29 24925000 FUND CAPITAL PROJECTS false false false A 547250 0 5031882 0 0 0 100000 0 184175 4021929 693896 0 2012 false false true true B 1946720 0 36053466 0 0 0 721069 0 0 0 13199047 0 2007 true true true true C 1252387 0 24925000 0 1246307 0 504250 0 0 23174443 0 0 2013 false false true true A false false false false 0 false false false true B false false false false 0 false false false true C false false false false 0 false false false true A true true true CAPITAL ONE BANK 10. true false false 0 false true B true true true CAPITAL ONE BANK 20. true false false 0 false true C true false 0 false 0 false true A true B true C true CORE FORM, PART VI, SECTION A; QUESTION 8 The organization's Board of Trustees has several committees that meet on a regular basis. Although there is no formal contemporaneous documentation for these meetings at the committee level, each committee reports directly to the organization's Board of Trustees wherein all discussions at the committee levels are documented in written meeting minutes of the full Board of Trustees. CORE FORM, PART VI, SECTION B; QUESTION 11b THE SAINT PETER'S UNIVERSITY ("UNIVERSITY") FEDERAL FORM 990 WAS PROVIDED TO EACH VOTING MEMBER OF ITS GOVERNING BODY, ITS BOARD OF TRUSTEES, PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE ("IRS"). IN ADDITION, THE UNIVERSITY'S AUDIT COMMITTEE PERFORMED A DETAILED REVIEW OF THE FEDERAL FORM 990. THE UNIVERSITY'S BOARD OF TRUSTEES HAS DELEGATED TO THE AUDIT COMMITTEE THE RESPONSIBILITY TO OVERSEE AND COORDINATE THE FEDERAL FORM 990 PREPARATION, REVIEW AND FILING PROCESS FOR THE UNIVERSITY AND ITS AFFILIATE. AS PART OF THE TAX RETURN PREPARATION PROCESS, THE UNIVERSITY HIRED A PROFESSIONAL CPA FIRM WITH EXPERIENCE AND EXPERTISE IN BOTH EDUCATION AND NOT-FOR-PROFIT TAX RETURN PREPARATION TO PREPARE THE FEDERAL FORM 990. THE CPA FIRM'S TAX PROFESSIONALS WORKED CLOSELY WITH THE UNIVERSITY'S FINANCE PERSONNEL INCLUDING, BUT NOT LIMITED TO, THE VICE PRESIDENT OF FINANCE AND BUSINESS AND CONTROLLER ("INTERNAL WORKING GROUP") TO OBTAIN THE INFORMATION NEEDED IN ORDER TO PREPARE A COMPLETE AND ACCURATE TAX RETURN. THE CPA FIRM PREPARED A DRAFT FEDERAL FORM 990 AND FURNISHED IT TO THE UNIVERSITY'S INTERNAL WORKING GROUP FOR REVIEW. THE INTERNAL WORKING GROUP REVIEWED THE DRAFT FEDERAL FORM 990 AND DISCUSSED QUESTIONS AND COMMENTS WITH THE CPA FIRM. REVISIONS WERE MADE TO THE DRAFT FEDERAL FORM 990 WHERE NECESSARY AND A FINAL DRAFT WAS FURNISHED BY THE CPA FIRM TO THE UNIVERSITY'S INTERNAL WORKING GROUP FOR FINAL REVIEW AND APPROVAL. FOLLOWING THE FINALIZATION OF THE REVIEW AND APPROVAL OF THE FORM 990, THE UNIVERSITY'S AUDIT COMMITTEE PERFORMED A DETAILED REVIEW WHICH WAS PRESENTED AND DISCUSSED AT ITS MEETING HELD ON MARCH 22, 2017. IN CONJUNCTION WITH THE AUDIT COMMITTEE MEETING WHEREIN THE FORM 990 WAS PRESENTED AND DISCUSSED, THE FORM 990 WAS PROVIDED TO EACH VOTING MEMBER OF ITS GOVERNING BODY. CORE FORM, PART VI, SECTION B; QUESTION 12 SAINT PETER'S UNIVERSITY ("UNIVERSITY") REGULARLY MONITORS AND ENFORCES COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY. ANNUALLY ALL MEMBERS OF THE BOARD OF TRUSTEES, DIRECTORS, OFFICERS AND MEMBERS OF SENIOR MANAGEMENT ARE REQUIRED TO REVIEW THE EXISTING CONFLICT OF INTEREST POLICY AND COMPLETE A QUESTIONNAIRE. THE COMPLETED QUESTIONNAIRES ARE RETURNED TO THE ORGANIZATION'S SECRETARY OF THE BOARD FOR REVIEW. THEREAFTER, THE ORGANIZATION'S SECRETARY OF THE BOARD PREPARES A SUMMARY OF THE COMPLETED QUESTIONNAIRES WHICH CONTAINS INFORMATION DISCLOSED ON AN INDIVIDUAL BY INDIVIDUAL BASIS. IF APPLICABLE, THE SECRETARY TO THE BOARD PRESENTS THIS SUMMARY TO THE UNIVERSITY'S EXECUTIVE COMMITTEE FOR ITS REVIEW, DISCUSSION, INVESTIGATION AND IMPLEMENTATION OF ANY NECESSARY MITIGATING BEHAVIOR. CORE FORM, PART VI, SECTION B; QUESTION 15 THE SAINT PETER'S UNIVERSITY ("UNIVERSITY") BOARD OF TRUSTEES HAS AN EXECUTIVE COMPENSATION COMMITTEE ("COMMITTEE"). THE COMMITTEE REVIEWS THE "TOTAL COMPENSATION" OF THE UNIVERSITY'S PRESIDENT WHICH IS INTENDED TO INCLUDE BOTH CURRENT AND DEFERRED COMPENSATION AND ALL EMPLOYEE BENEFITS, BOTH QUALIFIED AND NON-QUALIFIED. THE COMMITTEE'S REVIEW IS DONE ON A CONTRACT RENEWAL BASIS WITH PERFORMANCE BONUSES REVIEWED AND APPROVED ANNUALLY. THE COMMITTEE ENSURES THAT THE "TOTAL COMPENSATION" OF THE PRESIDENT OF THE UNIVERSITY IS REASONABLE. THE COMMITTEE OBTAINS AND RELIES UPON "APPROPRIATE DATA AS TO COMPARABILITY" PRIOR TO MAKING ITS DETERMINATION. THE COMMITTEE IS COMPRISED OF MEMBERS OF THE BOARD OF TRUSTEES, EACH OF WHOM ARE INDEPENDENT AND ARE FREE FROM ANY CONFLICTS OF INTEREST. Although there is no formal contemporaneous documentation for the executive compensation committee meetings at the committee level, this committee reports directly to the organization's Board of Trustees wherein all discussions at the committee level are documented in written meeting minutes of the full Board of Trustees. THE COMPENSATION AND BENEFITS OF OTHER EXECUTIVES REPORTED IN CORE FORM, PART VII AND SCHEDULE J OF THIS FORM 990 ARE REVIEWED ANNUALLY BY THE PRESIDENT WITH ASSISTANCE FROM THE UNIVERSITY'S HUMAN RESOURCES DEPARTMENT IN CONJUNCTION WITH THE INDIVIDUAL'S JOB PERFORMANCE DURING THE YEAR AND IS BASED UPON OTHER OBJECTIVE FACTORS DESIGNED TO ENSURE THAT REASONABLE AND FAIR MARKET VALUE COMPENSATION IS PAID BY THE UNIVERSITY. OTHER OBJECTIVE FACTORS INCLUDE MARKET SURVEY DATA FOR COMPARABLE POSITIONS, INDIVIDUAL GOALS AND OBJECTIVES, PERSONNEL REVIEWS, EVALUATIONS, SELF-EVALUATIONS AND PERFORMANCE FEEDBACK MEETINGS. CORE FORM, PART VI, SECTION C; QUESTION 19 THE SAINT PETER'S UNIVERSITY ("UNIVERSITY") FILED CERTIFICATE OF INCORPORATION AND ANY AMENDMENTS CAN BE OBTAINED AND REVIEWED THROUGH THE STATE OF NEW JERSEY DEPARTMENT OF THE TREASURY. THE UNIVERSITY'S FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST AND AT MANAGEMENT'S DISCRETION. CORE FORM, PART VII AND SCHEDULE J FATHER MICHAEL L. BRADEN, S.J. IS A JESUIT PRIEST WHO IS AN OFFICER OF SAINT PETER'S UNIVERSITY ("UNIVERSITY") BUT IS NOT ISSUED A FORM W-2 FOR THE SALARY HE DERIVES. FOR CALENDAR YEAR 2015, FATHER BRADEN WAS PAID $65,595. HOWEVER, HE RECEIVES NO BENEFITS FROM THE UNIVERSITY AND HIS ENTIRE SALARY IS DEPOSITED DIRECTLY INTO THE JESUIT PROVINCE BANK ACCOUNT. PER THE INSTRUCTIONS TO THE FORM 990, HIS SALARY IS NOT REQUIRED TO BE REPORTED ON CORE FORM, PART VII OR SCHEDULE J. CORE FORM, PART VII AND SCHEDULE J PART VII AND SCHEDULE J REFLECT CERTAIN BOARD MEMBERS RECEIVING COMPENSATION AND BENEFITS FROM THIS ORGANIZATION. PLEASE NOTE THIS REMUNERATION WAS FOR SERVICES RENDERED AS FULL-TIME EMPLOYEES OF THIS ORGANIZATION AND NOT FOR SERVICES RENDERED AS A VOTING MEMBER OF THIS ORGANIZATION'S BOARD OF TRUSTEES. CORE FORM, PART VII, SECTION A, COLUMN B CERTAIN BOARD OF TRUSTEE MEMBERS OR OFFICERS LISTED ON CORE FORM, PART VII AND SCHEDULE J OF THIS FORM 990 MAY HOLD SIMILAR POSITIONS WITH BOTH SAINT PETER'S UNIVERSITY ("UNIVERSITY") AND ITS AFFILIATE. THE HOURS SHOWN ON THIS FORM 990, FOR BOARD MEMBERS WHO RECEIVE NO COMPENSATION FOR SERVICES RENDERED IN A NON-BOARD CAPACITY, REPRESENT THE ESTIMATED HOURS DEVOTED PER WEEK TO THE UNIVERSITY. TO THE EXTENT THESE INDIVIDUALS SERVE AS A MEMBER OF THE BOARD OF TRUSTEES OF THE UNIVERSITY'S AFFILIATE, THEIR RESPECTIVE HOURS PER WEEK ARE APPROXIMATELY THE SAME AS REFLECTED IN PART VII OF THIS FORM 990. THE HOURS REFLECTED ON PART VII OF THIS FORM 990, FOR BOARD MEMBERS WHO RECEIVE COMPENSATION FOR SERVICES RENDERED IN A NON-BOARD CAPACITY AND PAID OFFICERS, REFLECT TOTAL HOURS WORKED PER WEEK ON BEHALF OF THE BOTH THE UNIVERSITY AND ITS AFFILIATE; NOT SOLELY THE UNIVERSITY. CORE FORM, PART XI; LINE 9 OTHER CHANGES IN NET ASSETS OR FUND BALANCES INCLUDE: - DECREASE IN PENSION OTHER THAN NET PERIODIC PENSION COST - ($3,518,869); - DECREASE IN FAIR VALUE OF SPLIT-INTEREST AGREEMENTS - ($59,875); AND - INCREASE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENTS - ($679,683). CORE FORM, PART XII; QUESTION 2 AN INDEPENDENT CPA FIRM AUDITED THE CONSOLIDATED FINANCIAL STATEMENTS OF SAINT PETER'S UNIVERSITY ("UNIVERSITY") AND AFFILIATES FOR THE YEARS ENDED JUNE 30, 2016 AND JUNE 30, 2015; RESPECTIVELY, AND ISSUED AUDITED CONSOLIDATED FINANCIAL STATEMENTS. AN UNQUALIFIED OPINION WAS ISSUED BY THE INDEPENDENT CPA FIRM EACH YEAR. THE UNIVERSITY'S AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE UNIVERSITY'S CONSOLIDATED FINANCIAL STATEMENTS AND THE SELECTION OF ITS INDEPENDENT AUDITOR. 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