2016-04-18T14:20:37-05:00 2015-05-31 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 46 PUBLIC SQUARE SUITE 400 WILKESBARRE PA 18701 990 2014-06-01 240795441 KEYSTONE COLLEGE KEYS 5709458000 ONE COLLEGE GREEN LAPLUME PA 18440 KEVIN M WILSON VP OF FINANCE AND ADMIN 5709458376 2016-04-15 1 JULIUS GREEN CPA P00350393 5708200100 2016-04-13 2014 2016-08-17 19:52:53Z DAVID L COPPOLA ONE COLLEGE GREEN LAPLUME PA 18440 38742964 0 X WWW.KEYSTONE.EDU X 1935 PA EDUCATING STUDENTS IN A LIBERAL ARTS TRADITION FOSTERING A GLOBAL PERSPECTIVE ON LIFE-LONG LEARNING. 35 32 796 250 0 0 3402628 2541474 34661509 33832641 883224 493823 421185 402734 39368546 37270672 11658774 11732353 0 0 14481921 14150329 0 0 682120 12587551 12996876 38728246 38879558 640300 -1608886 38657615 38945239 21916649 23816806 16740966 15128433 X 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 33536876 11732353 34205761 HIGHER EDUCATION SERVICES - KEYSTONE COLLEGE PROVIDES EDUCATION AND RELATED SUPPORT SERVICES TO OVER 1,300 STUDENTS FROM 14 STATES AND 12 COUNTRIES. WE OFFER A WIDE RANGE OF BACCALAUREATE AND MASTERS DEGREES, WHILE PROVIDING FINANCIAL AID TO MEET APPROXIMATELY 98% OF OUR STUDENTS' OVERALL DEMONSTRATED FINANCIAL NEED. WE OFFERED OVER $11 MILLION IN SCHOLARSHIPS FROM INTERNAL RESOURCES TO OVER 1,290 STUDENTS. OVER 450 OF OUR STUDENTS RESIDE ON CAMPUS, WHILE THE REMAINDER COMMUTE FROM HOME OR LIVE IN PRIVATE RESIDENCES NEAR CAMPUS. WE MAINTAIN A 15:1 RATIO OF STUDENTS TO FACULTY IN ORDER TO PROMOTE A CARING AND SUPPORTIVE ENVIRONMENT DEDICATED TO MEETING OUR STUDENTS' LEARNING NEEDS. WE PROVIDE OUR STUDENTS CO-CURRICULAR OPPORTUNITIES TO LEARN AND GROW; THESE INCLUDE: VARSITY ATHLETICS (NCAA DIVISION III - 9 SPORTS FOR WOMEN AND 8 SPORTS FOR MEN); FACULTY-LED STUDY ABROAD EXCURSIONS; FOREIGN AND DOMESTIC INTERNSHIP OPPORTUNITIES; AND STUDENT CLUBS AND ORGANIZATIONS. ALSO, OUR CAMPUS COMMUNITY ENJOYS A WIDE VARIETY OF EDUCATIONAL RESOURCES, FACILITIES, AND OPPORTUNITIES THAT WE MAKE AVAILABLE TO THE PUBLIC. 33536876 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 1 0 0 1 0 0 0 0 1 0 0 0 1 102 0 1 796 1 0 0 0 0 0 1 1 0 0 0 0 X 35 32 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 1 0 PA X KEVIN M WILSON 5709458000 ONE COLLEGE GREEN LAPLUME PA 18440 SUSAN S BELIN CHAIR 2.00 X X 0 0 0 ROBERT SWARTLEY FIRST VICE CHAIR 2.00 X X 0 0 0 JOSEPH J QUINN CPA TREASURER 2.00 X X 0 0 0 DOROTHY MACKIE SECRETARY 2.00 X X 0 0 0 JOHN PULLO ASSISTANT SECRETARY/ TREAS 2.00 X X 0 0 0 JON S CRAIGHEAD ASSISTANT SECRETARY/ TREAS 2.00 X X 0 0 0 DAVID L COPPOLA PRESIDENT 50.00 X X 212701 0 20642 THOMAS G SPEICHER TRUSTEE 2.00 X 0 0 0 ALEX FRIED TRUSTEE 2.00 X 0 0 0 DR EDWARD G BOEHM JR (FORMER PRES)-PRESIDENT EM 20.00 X 139333 0 13453 JOYCE M AVILA TRUSTEE/ADJUNCT INSTRUCTOR 10.00 X 9000 0 0 MICHAEL E BELICOVE TRUSTEE 2.00 X 0 0 0 MARK A CARPENTER TRUSTEE 2.00 X 0 0 0 SUSAN SCRANTON DAWSON TRUSTEE 2.00 X 0 0 0 DANA PETTINATO SKY TRUSTEE 2.00 X 0 0 0 THOMAS W DAVIS DECEASED TRUSTEE 2.00 X 0 0 0 MICHELE B DEMPSEY TRUSTEE 2.00 X 0 0 0 NANCY DRESSEL TRUSTEE 2.00 X 0 0 0 JOHN M DUFF TRUSTEE 2.00 X 0 0 0 JONATHAN VIPOND III TRUSTEE 2.00 X 0 0 0 JANE JULIUS HONCHELL TRUSTEE/PROFESSOR 2.00 X 68828 0 3356 ROBERT L KAGLER TRUSTEE 2.00 X 0 0 0 RICHARD T KREBS 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/ADJUNCT INSTRUCTOR 10.00 X 7500 0 0 JOYCE E TRESSLER 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 EARLE WOOTTON TRUSTEE 2.00 X 0 0 0 KEVIN M WILSON VP - FINANCE AND ADMINSITR 50.00 X 112489 0 13301 CHARLOTTE M RAVAIOLI VP - INSTITUTIONAL ADVANCE 50.00 X 130867 0 13346 THEA HARRINGTON EMPLOYEE (LEFT 01/2015) 50.00 X 113854 0 13344 SARAH KEATING EMPLOYEE (LEFT 06/2014) 50.00 X 132923 0 12246 DR FRANCES LANGAN PROFESSOR 40.00 X 106316 0 7974 PATRICIA DAVIS EMPLOYEE 40.00 X 101690 0 7627 PATRICIA BEDERMAN MILLER EMPLOYEE 40.00 X 113096 0 8482 1248597 0 113771 9 0 1 0 SODEXO PO BOX 360170 PITTSBURGH PA 15251 FOOD SERVICES 2299483 SODEXO AFFILIATES PO BOX 360170 PITTSBURGH PA 15251 FACILITIES MGMT 1859785 CONDRON & CO 225 WYOMING AVENUE SCRANTON PA 18503 ADVERTISING 233639 ROYALL & CO 1920 EAST PARHAM ROAD RICHMOND VA 23228 RECRUITMENT SERVICES 182472 DXDEMPSEY 321 SPRUCE STREET SCRANTON PA 18503 DESIGN SERVICES 105615 6 28100 1382928 1130446 88159 2541474 TUITION & FEES 611600 29476862 29476862 ROOM & BOARD 721000 4355779 4355779 33832641 278591 278591 60622 53637 6985 6985 6985 1597012 1381780 215232 215232 215232 17270 28100 36875 -19605 -19605 EARLY ED TRAINING CTR 611710 246745 246745 BOOK STORE COMMISSION 900099 33368 33368 STUDENT FEES 900099 31818 31818 103423 61189 42234 415354 37270672 34205761 0 523437 X 11732353 11732353 702834 113854 588980 139333 139333 10781130 8840527 1509358 431245 484534 387627 82371 14536 1308699 798306 418784 91609 733799 601715 102732 29352 93629 93629 48100 48100 9600 9600 4433968 3865904 523628 44436 285202 248126 37076 389930 292448 93583 3899 1616244 1309158 290924 16162 387390 352525 30991 3874 175610 107122 61464 7024 609119 499478 103550 6091 2017343 1654222 342948 20173 282504 231653 48026 2825 BAD DEBT EXPENSE 467465 387996 79469 REPAIRS AND MAINTENANCE 461057 461057 SCHOLARSHIP EXPENSE 349164 349164 CONSUMABLE SUPPLIES 320287 320287 1050264 983354 56016 10894 38879558 33536876 4660562 682120 68472 342348 1548823 1166620 2177680 1911870 120831 120831 247109 278730 58940767 33342062 24672555 25598705 8329060 7995364 1493085 1530771 38657615 38945239 2670769 2748153 1599260 1175581 7430805 7145726 5507705 5954414 1453335 3205950 3254775 3586982 21916649 23816806 X 6225807 4663031 3353978 2941268 7161181 7524134 16740966 15128433 38657615 38945239 X -1608886 13266 -16913 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 9600 9600 0 PART II-B, LINE 1: KEYSTONE COLLEGE CONTRACTED SCANLON GOVERNMENT SERVICES, WHO PROVIDED AN OPPORTUNITY FOR THE UNIVERSITY PRESIDENT TO HAVE BRIEF INTRODUCTIONS WITH FEDERAL AND STATE POLICY MAKERS WHO HAVE INFLUENCE OVER GOVERNMENTAL GRANT AND POLICIES REGARDING EDUCATION. 0 355954 X X 0 0 0 8106759 325267 486286 1101767 48500 7768045 7462000 234595 889874 432395 47315 8106759 6740623 69059 969146 269059 47769 7462000 7165858 223500 -180657 423500 44578 6740623 6597857 99755 780408 261471 50691 7165858 0.03000 0.21000 0.76000 0 0 735910 735910 41079928 21048213 20031715 16461531 12293849 4167682 663398 663398 25598705 CAPITAL LEASES 580045 ANNUITY PAYABLE 177021 REFUNDABLE ADVANCES FROM GOVERNMENT AGENCIES 1094968 STUDENT DEPOSITS 984445 AGENCY FUNDS PAYABLE 60595 INTEREST RATE SWAP 689908 3586982 X 25607098 13266 -11750082 -11736816 37343914 -73242 -73242 37270672 27219631 73242 73242 27146389 11733169 11733169 38879558 PART III, LINE 4: COLLECTION ITEMS ACQUIRED AFTER JUNE 1, 1996 ARE CAPITALIZED AT COST, IF PURCHASED, OR FAIR VALUE. SUCH COLLECTION 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 MEMORABILIA 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 PAINTINGS, DRAWINGS, AND SCULPTURES, 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 SIMILIAR TO AGENCY FUNDS BECAUSE THE COLLEGE ACTED ONLY AS CUSTODIAN AND DISBURSING AGENT FOR THESE FUNDS. TOTAL DISBURSEMENTS WERE $1,977,272 AND AWARDS $2,077,104. THE BALANCE TO BE REFUNDED TO PHEAA OF $99,832 IS REFLECTED ON THE BALANCE SHEET AS OF MAY 31,2015 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 INCOME 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. THE COLLEGE'S FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX FOR THE YEARS ENDED MAY 31, 2012 THROUGH MAY 31,2015 REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED GAIN ON INTEREST RATE SWAP -27,984. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUSTS 37,686. CHANGE IN VALUE OF ANNUITY OBLIGATIONS -26,615. RECLASS OF STUDENT INSURANCE -816. STUDENT AID -11,732,353. PART XI, LINE 4B - OTHER ADJUSTMENTS: GOLF TOURNAMENT NET EXPENSE -19,605. RENTAL EXPENSES -53,637. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 53,637. GOLF TOURNAMEN EXPENSE, NET 19,605. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID 11,732,353. STUDENT INSURANCE 816. 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 GRANTS PROGRAM AND INSTITUTIONAL ASSISTANCE GRANTS PROGRAM. X 0 WILSON-BENNETT TECHNOLOGY 140 PROFESSIONAL DR STE 2 CABOT AZ 72023 PHONATHON 0 22655 28568 -5913 22655 28568 -5913 GOLF TOURNAMENT 45370 28100 17270 5000 23423 6091 2361 45370 28100 17270 5000 23423 6091 2361 36875 -19605 1 SCHOLARSHIPS (INTERNAL TUITION DISCOUNTS) 1290 11732353 CASH N/A 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 1 0 0 0 0 0 0 0 DAVID L COPPOLA PRESIDENT 212701 0 0 0 0 0 15953 0 4689 0 233343 0 0 0 DR EDWARD G BOEHM JR (FORMER PRES)-PRESIDENT EM 139333 0 0 0 0 0 10450 0 3003 0 152786 0 0 0 PART I, LINE 4B DAVID L. COPPOLA, PRESIDENT OF THE COLLEGE PARTICIPATES IN A DEFERRED COMPENSATION PLAN. MICHELE DEMPSEY TRUSTEE 105615 MICHELE DEMPSEY PROVIDED DESIGN SERVICES FOR CAPITAL PROJECTS FOR A FEE. 0 X 61 16109 FAIR MARKET VALUE X 3049 FAIR MARKET VALUE X 2 26814 QUOTED MARKET VALUE X COMPUTERS 134 23200 ESTIMATED RETAIL PRI X DINNER EVENT 1 12000 ESTIMATED RETAIL PRI X GIFT CERTIFICATES 35 4236 ESTIMATED RETAIL PRI X OTHER 12 3703 ESTIMATED RETAIL PRI X EQUIPMENT 2 3438 ESTIMATED RETAIL PRI X MUSICAL EQUIPMENT 2 300 ESTIMATED RETAIL PRI 0 0 1 1 PART I, COLUMN (B): NUMBERS REPORTED ON SCHEDULE M REPRESENT THE NUMBER OF ITEMS CONTRIBUTED. PART I, LINE 32B: KEYSTONE COLLEGE MAINTAINS BROKERAGE ACCOUNTS AND UTILIZES THE BROKERAGE SERVICES TO SELL NON-CASH CONTRIBUTIONS OF PUBLICLY TRADED SECURITIES. 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 11 THE FINAL FORM 990 IS REVIEWED BY MEMBERS OF THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES AND KEVIN M. WILSON, VICE PRESIDENT OF FINANCE AND ADMINISTRATION PRIOR TO FILING. THE AUDIT COMMITTEE REVIEWS AND THEN DISSEMINATES THE RETURN TO THE FULL BOARD PRIOR TO FILING WITH THE IRS. 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 HER 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. 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 CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 1,618,013. MANAGEMENT AND GENERAL EXPENSES 213,574. FUNDRAISING EXPENSES 18,598. TOTAL EXPENSES 1,850,185. FOOD SERVICE: PROGRAM SERVICE EXPENSES 1,662,297. MANAGEMENT AND GENERAL EXPENSES 229,282. FUNDRAISING EXPENSES 19,107. TOTAL EXPENSES 1,910,686. CONSULTING: PROGRAM SERVICE EXPENSES 585,594. MANAGEMENT AND GENERAL EXPENSES 80,772. FUNDRAISING EXPENSES 6,731. TOTAL EXPENSES 673,097. FORM 990, PART XI, LINE 9: UNREALIZED GAIN ON INTEREST RATE SWAP -27,984. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUSTS 37,686. CHANGE IN VALUE OF ANNUITY OBLIGATIONS -26,615. PART VI, ITEM 13 AND ITEM 14 THE ORGANIZATION ADOPTED A WHISTLEBLOWER POLICY AND A DOCUMENT RETENTION POLICY DURING THE FISCAL YEAR ENDED MAY 31, 2016. THESE QUESTIONS HAVE BEEN ANSWERED NO ON THIS RETURN BECAUSE THE POLICIES WERE NOT IN PLACE DURING THIS FILING YEAR. PERPETUAL TRUSTS (2) PERPETUAL TRUSTS PA KEYSTONE COLLEGE T 31276 1530771 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 PART IV - BENEFICIAL INTEREST IN TRUST KEYSTONE COLLEGE RECEIVES 100% OF THE NET INCOME FROM THIS PERPETUAL TRUST FOR THE PURPOSE OF PROVIDING SCHOLARSHIPS TO STUDENTS OF KEYSTONE COLLEGE WHO ARE RESIDENTS OF LACKAWANNA COUNTY, PENNSYLVANIA.