2015-05-11T12:46:13-05:00 2014-06-30 KPMG LLP 60 South Street Boston MA 02111 990 2013-07-01 050258932 PROVIDENCE COLLEGE % JOHN SWEENEY SR VP FINANCE PROV 4018651000 ONE CUNNINGHAM SQUARE Suite PROVIDENCE RI 02918 JOHN SWEENEY SR VP FINANCE/CFO 4018652281 2015-05-08 true TARA D'AGOSTINO P01245482 4018652281 2013 2016-02-25 16:41:14Z REV BRIAN J SHANLEY OP ONE CUNNINGHAM SQUARE PROVIDENCE RI 02918 354212099 false X WWW.PROVIDENCE.EDU X 1917 RI PROVIDENCE COLLEGE IS A CATHOLIC, DOMINICAN, LIBERAL ARTS INSTITUTION OF HIGHER EDUCATION AND A COMMUNITY COMMITTED TO ACADEMIC EXCELLENCE. 33 31 2315 37 110751 -144044 19660347 18865670 207376616 223684804 6878179 7805656 3648200 3701103 237563342 254057233 58490703 66442758 0 0 87149917 92503235 422437 435825 5523792 69072689 77357176 215135746 236738994 22427596 17318239 622188667 601856573 191046008 130629269 431142659 471227304 X PROVIDENCE COLLEGE IS A CATHOLIC, DOMINICAN, LIBERAL ARTS INSTITUTION OF HIGHER EDUCATION AND A COMMUNITY COMMITTED TO ACADEMIC EXCELLENCE IN PURSUIT OF THE TRUTH, GROWTH IN VIRTUE, AND SERVICE OF GOD AND NEIGHBOR. false false 196124042 66442758 225843510 PROVIDENCE COLLEGE OFFERS UNDERGRADUATE DEGREES, GRADUATE DEGREES, AND CERTIFICATE PROGRAMS. COMMITTED TO ACADEMIC EXCELLENCE, THE COLLEGE'S CORE CURRICULUM ADDRESSES KEY QUESTIONS OF HUMAN EXISTENCE, INCLUDING LIFE'S MEANING AND PURPOSE, AND STRESSES THE IMPORTANCE OF MORAL AND ETHICAL REASONING, AESTHETIC APPRECIATION, AND UNDERSTANDING THE NATURAL WORLD, OTHER CULTURES, AND DIVERSE TRADITIONS. PROVIDENCE COLLEGE HONORS ACADEMIC FREEDOM, PROMOTES CRITICAL THINKING AND ENGAGED LEARNING, AND ENCOURAGES A PEDAGOGY OF DISPUTED QUESTIONS. APPROXIMATELY 4,734 STUDENTS WERE ENROLLED IN THE UNDERGRAD, GRAD, AND CONTINUING ED PROGRAMS. 196124042 true true false true false false false false false true true true false false true true true false true false true false false true true false false true true true true false false false false false true true false false false true false false false false true true false false true 484 0 true 2315 true true true false false false false true true false false false false X 33 31 false false false false true true true true true false false true true true true true true true true false X JOHN SWEENEY SR VP FINANCE 4018652281 ONE CUNNINGHAM SQUARE PROVIDENCE RI 02918 KARL W ANDERSON TRUSTEE 2.0 0.0 X 0 0 0 DAVID J ALDRICH TRUSTEE 2.0 0.0 X 0 0 0 J PETER BENZIE TRUSTEE 2.0 0.0 X 0 0 0 CATHERINE LITTLE BERT TRUSTEE 2.0 0.0 X 0 0 0 DUANE M BOULIGNY TRUSTEE 2.0 0.0 X 0 0 0 THOMAS C BOYAN JR TRUSTEE 2.0 0.0 X 0 0 0 M JOSEPH CANAVAN TRUSTEE 2.0 0.0 X 0 0 0 SR KATHLEEN CANNON OP TRUSTEE 2.0 0.0 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MOST REV THOMAS J TOBIN DD TRUSTEE 2.0 0.0 X 0 0 0 REVEREND BRIAN J SHANLEY OP PRESIDENT & TRUSTEE 40.0 0.0 X X 0 0 57343 REVEREND KENNETH R SICARD OP TREASURER & TRUSTEE 40.0 0.0 X X 0 0 47910 HUGH LENA SR VP ACADEMIC AFFAIRS/PROVOST 40.0 0.0 X 297507 0 45208 JOHN SWEENEY SR VP FINANCE & BUSINESS/CFO 40.0 0.0 X 296304 0 47270 MARIFRANCES MCGINN VP & GENERAL COUNSEL 40.0 0.0 X 242815 0 47147 KRISTINE GOODWIN VP STUDENT AFFAIRS 40.0 0.0 X 231761 0 38069 GREGORY WALDRON SR VP INSTIT ADVANCEMENT 40.0 0.0 X 84331 0 5548 REV R GABRIEL PIVARNIK OP VP MISSION & MINISTRY 40.0 0.0 X 0 0 19323 EDWARD COOLEY MEN'S BASKETBALL COACH 40.0 0.0 X 1560749 0 95350 SUSAN ROBINSON FRUCHTL WOMEN'S BASKETBALL COACH 40.0 0.0 X 356400 0 37635 NATHAN LEAMAN HOCKEY COACH 40.0 0.0 X 321307 0 66754 ROBERT DRISCOLL ATHLETICS DIRECTOR 40.0 0.0 X 287698 0 65289 SYLVIA MAXFIELD SCHOOL OF BUSINESS DEAN 40.0 0.0 X 232368 0 21418 DAVID WEGRZYN FORMER SR VP INSTIT ADVANCE 40.0 0.0 X 289232 0 40744 KENO DAVIS FORMER BASKETBALL COACH 40.0 0.0 X 306250 0 0 4506722 0 635008 147 true true false RUFFALOCODY 65 KIRKWOOD NORTH ROAD SW CEDAR RAPIDS IA 52404 FUNDRAISING SERVICES 426192 KPMG LLP 60 SOUTH STREET BOSTON MA 02111 AUDITING & TAX SVCS 203400 CAMBRIDGE ASSOCIATES 100 SUMMER ST 13 BOSTON MA 02110 INVESTMENT SERVICES 182578 MFS 500 BOYLSTON STREET BOSTON MA 02116 INVESTMENT SERVICES 135489 RONEY LABINGER LLP 344 WICKENDEN STREET PROVIDENCE RI 02903 LEGAL SERVICES 103377 61 631993 2377153 15856524 1690510 18865670 TUITION & FEES 611600 173325888 173325888 ROOM REVENUE 721000 25725051 25725051 BOARD REVENUE 721000 14434397 14434397 ATHLETICS REVENUE 900099 10048732 10048732 AUXILIARY REVENUE 721000 150736 150736 223684804 1273666 -93974 1367640 0 349743 349743 0 0 0 0 0 106437107 0 99905117 6531990 0 6531990 6531990 70575 631993 249749 -179174 -179174 0 0 0 COMMISSIONS 900099 604237 604237 PACT PROGRAM 900099 476976 476976 SCHNEIDER ARENA 713990 204725 204725 2244596 1681730 562866 3530534 254057233 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FIN 48 (ASC 740) FOOTNOTE PART X, LINE 2 THE COLLEGE IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE, AS AMENDED. ACCORDINGLY, IT IS GENERALLY NOT SUBJECT TO INCOME TAXES EXCEPT TO THE EXTENT IT HAS TAXABLE INCOME FROM ACTIVITIES THAT ARE NOT RELATED TO ITS EXEMPT PURPOSE. THE COLLEGE HAS GENERATED UNRELATED BUSINESS INCOME FOR THE YEAR ENDED JUNE 30, 2014, BUT IT IS NOT MATERIAL TO THE AUDITED FINANCIAL STATEMENTS. THE COLLEGE BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. OTHER REVENUES INCLUDED IN FINANCIAL STATEMENTS NOT INCLUDED ON FORM 990 PART XI, LINE 2D PROVISION FOR DOUBTFUL PLEDGES $ (523,325) OTHER REVENUES INCLUDED ON FORM 990 NOT INCLUDED IN FINANCIAL STATEMENTS PART XI, LINE 4B BLACK & WHITE EVENT $ (249,749) LOSS ON EXTINGUISHMENT OF DEBT $ (737,046) TOTAL $ (986,795) OTHER EXPENSES INCLUDED IN FINANCIAL STATEMENTS NOT INCLUDED ON FORM 990 PART XII, LINE 2D BLACK & WHITE EVENT $ 249,749 POST RETIREMENT BENEFIT OBLIGATION $ 63,185 LOSS ON EXTINGUISHMENT OF DEBT $ 737,046 TOTAL $ 1,049,980 true true true true true true true false false false false false false false false true false true NONDISCRIMINATORY POLICY LINE 3 A COPY OF THE COLLEGE'S RACIAL NONDISCRIMINATION POLICY IS INCLUDED IN ALL COLLEGE PUBLICATIONS. GOVERNMENT AID OR ASSISTANCE LINE 6A THE COLLEGE PARTICIPATES IN VARIOUS GOVERNMENTAL ASSISTANCE PROGRAMS INCLUDING THE FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS AND FEDERAL WORK STUDY PROGRAMS. Central America and the Caribbean Investments 52356412 Europe (Including Iceland and Greenland) Investments 4883990 Central America and the Caribbean Program Services EDUCATIONAL ACTIVITIES 108418 East Asia and the Pacific Program Services EDUCATIONAL ACTIVITIES 348106 Europe (Including Iceland and Greenland) Program Services EDUCATIONAL ACTIVITIES 3724263 Middle East and North Africa Program Services EDUCATIONAL ACTIVITIES 68298 North America Program Services EDUCATIONAL ACTIVITIES 14494 Russia and the Newly Independent States Program Services EDUCATIONAL ACTIVITIES 3053 South America Program Services EDUCATIONAL ACTIVITIES 97412 South Asia Program Services EDUCATIONAL ACTIVITIES 33341 Sub-Saharan Africa Program Services EDUCATIONAL ACTIVITIES 40789 61678576 61678576 true false true true true true MONITOR THE USE OF GRANT FUNDS OUTSIDE THE U.S. PART I, LINE 2 THE OFFICE OF FINANCIAL AID MONITORS FEDERAL GRANT FUNDS USING BANNER REPORTING TOOLS TO TRACK THE LEVELS OF AMOUNTS PAID FOR ALL TITLE IV GRANTS AND INSTITUTIONAL GRANTS. AMOUNTS ARE RECONCILED TO THE STUDENT ACCOUNT SYSTEM TO ENSURE FUNDS ARE PROPERLY DISBURSED. EXPENDITURES PART I, LINE 3, COLUMN (F) EXPENDITURES IN COLUMN (F) ARE BASED ON THE ACCRUAL METHOD OF ACCOUNTING. X true RUFFALOCODY 65 KIRKWOOD N RD CEDAR 65 KIRKWOOD N RD CEDAR REAPIDS IA 52404 PHONE SOLICIT. false 505894 435825 70069 505894 435825 70069 CO CT DC ME MD MI MN MO NH NC ND RI UT BLACK & WHITE 702568 631993 70575 114067 83638 52044 0 702568 631993 70575 114067 83638 52044 249749 -179174 FUNDRAISING ACTIVITIES PART I, LINE 2 PROVIDENCE COLLEGE HAS A WRITTEN AGREEMENT WITH RUFFALOCODY, A PROFESSIONAL FUNDRAISER, WHEREBY RUFFALOCODY PROVIDED TELEMARKETING SERVICES, INCLUDING PHONATHON MAILINGS. THE AGREEMENT CALLS FOR A MONTHLY PAYMENT OF AN AGREED UPON FEE, PLUS REIMBURSEMENT OF COSTS SUCH AS PRINTING, POSTAGE, SUPPLIES, ETC. RUFFALOCODY BILLS PROVIDENCE COLLEGE SEPARATELY FOR THESE COSTS. PROVIDENCE COLLEGE PAID RUFFALOCODY $435,825 DURING THE YEAR. true SMITH HILL COMMUNITY DEVELOPMENT CORP 231 DOUGLAS AVENUE PROVIDENCE RI 02903 050466422 501(C)(3) 317668 CATHOLIC RELIEF SERVICES USCCB 228 W LEXINGTON STREET BALTIMORE MD 21201 135563422 501(C)(3) 11692 INST FOR STUDY & PRACTICE OF NONVIOLENCE 265 OXFORD STREET PROVIDENCE RI 02905 050517863 501(C)(3) 10000 3 STUDENT SCHLORSHIPS & FINANCIAL AID 2900 57531995 ATHLETIC SCHOLARSHIPS 212 7607453 FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT 241 948342 MONITOR THE USE OF GRANT FUNDS IN THE U.S. PART I, LINE 2 THE COLLEGE MONITORS THE USE OF GRANT FUNDS IN VARIOUS WAYS INCLUDING OBTAINING REPORTS FROM THE ORGANIZATIONS OUTLINING THE ACTIVITIES SUPPORTED BY GRANTS, MEETING REGULARLY WITH THE ORGANIZATIONS, AND VISITING THE ORGANIZATIONS TO OBSERVE ACTIVITIES ON A FIRST HAND BASIS. THE OFFICE OF FINANCIAL AID MONITORS FEDERAL GRANT FUNDS USING BANNER REPORTING TOOLS TO TRACK THE LEVEL OF AMOUNTS PAID FOR ALL TITLE IV GRANTS AND INSTITUTIONAL GRANTS. AMOUNTS ARE RECONCILED TO THE STUDENT ACCOUNT SYSTEM TO ENSURE FUNDS ARE PROPERLY DISBURSED. X X true true X X X true true false false false false false false false HUGH LENA SR VP ACADEMIC AFFAIRS/PROVOST 272708 0 13651 0 11148 0 25500 0 19708 0 342715 0 0 0 JOHN SWEENEY SR VP FINANCE & BUSINESS/CFO 252278 0 12104 0 31922 0 25500 0 21770 0 343574 0 0 0 MARIFRANCES MCGINN VP & GENERAL COUNSEL 219634 0 11310 0 11871 0 23114 0 24033 0 289962 0 0 0 KRISTINE GOODWIN VP STUDENT AFFAIRS 186339 0 8969 0 36453 0 12905 0 25164 0 269830 0 0 0 EDWARD COOLEY MEN'S BASKETBALL COACH 1266203 0 132500 0 162046 0 75500 0 19850 0 1656099 0 0 0 SUSAN ROBINSON FRUCHTL WOMEN'S BASKETBALL COACH 333675 0 10875 0 11850 0 17850 0 19785 0 394035 0 0 0 NATHAN LEAMAN HOCKEY COACH 288453 0 13838 0 19016 0 47041 0 19713 0 388061 0 0 0 ROBERT DRISCOLL ATHLETICS DIRECTOR 240042 0 12295 0 35361 0 45500 0 19789 0 352987 0 0 0 SYLVIA MAXFIELD SCHOOL OF BUSINESS DEAN 224356 0 5625 0 2387 0 12208 0 9210 0 253786 0 0 0 DAVID WEGRZYN FORMER SR VP INSTIT ADVANCE 127241 0 0 0 161991 0 25500 0 15244 0 329976 0 0 0 KENO DAVIS FORMER BASKETBALL COACH 0 0 0 0 306250 0 0 0 0 0 306250 0 0 0 HOUSING ALLOWANCE AND HEALTH OR SOCIAL CLUB DUES PART I, LINE 1A THE FOLLOWING LISTED BENEFITS WERE PROVIDED BY THE COLLEGE DURING CALENDAR YEAR 2013. LISTED BENEFITS TO EMPLOYEES CEASE UPON THEIR TERMINATION DATE. THE COLLEGE'S PRESIDENT, REV. BRIAN J. SHANLEY, OP AND THE COLLEGE'S EVP/TREASURER, REV. KENNETH J. SICARD, OP WERE PROVIDED WITH ON CAMPUS HOUSING. THE SR VP OF FINANCE/CFO AND THE SR VP OF INSTITUTIONAL ADVANCEMENT WERE PROVIDED WITH OCCASIONAL HOUSING IN COLLEGE OWNED PROPERTY. THE HOUSING WAS TAXABLE AND INCLUDED IN THEIR FORM W-2. THE COLLEGE'S PRESIDENT, REV. BRIAN J. SHANLEY, OP, NATHAN LEAMAN, HOCKEY COACH, DAVID WEGRZYN, FORMER VICE PRESIDENT INSTITUTIONAL ADVANCEMENT, AND EDWARD COOLEY, BASKETBALL COACH, WERE PROVIDED WITH SOCIAL CLUB MEMBERSHIPS PAID BY THE COLLEGE. THE MEMBERSHIP DUES PAID BY THE COLLEGE FOR NATHAN LEAMAN, DAVID WEGRZYN, AND EDWARD COOLEY ARE TAXABLE TO THE INDIVIDUALS AND INCLUDED IN THEIR FORM W-2. THESE AMOUNTS HAVE BEEN REPORTED IN FORM 990, PART VII AND ON SCHEDULE J. SEVERANCE PAYMENT PART I, LINE 4A THE FOLLOWING INDIVIDUALS RECEIVED MONTHLY SEVERANCE PAYMENTS. THE TOTAL AMOUNTS RECEIVED ARE PROVIDED BELOW: DAVID WEGRZYN $ 131,950 KENO DAVIS $ 306,250 SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN PART I, LINE 4B CERTAIN HIGHLY COMPENSATED EMPLOYEES PARTICIPATE IN A NONQUALIFIED 457(F) PLAN: CONTRIBUTIONS MADE: EDWARD COOLEY $ 50,000 NATHAN LEAMAN $ 25,000 ROBERT DRISCOLL $ 20,000 A RI Health & Educational Bldg Corp 521300173 762197LS8 2012-11-20 40616916 Advance refunding of 2003A Bonds false false false B RI Health & Educational Bldg Corp 541300173 762197JH5 2012-01-25 40337074 Construction false false false C RI Health & Educational Bldg Corp 541300173 762197CH2 2008-04-30 18200000 Refunding 2003B & 2006 Bonds false false false A 1855000 0 40617455 0 0 0 234178 0 0 0 40317709 65568 2014 false true true true B 1380000 0 40343462 0 0 0 335840 0 0 28215133 0 11792489 false false true true C 2225000 0 18200000 0 0 0 243010 40513 0 0 17916477 0 2008 true 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 false true false false false false 0 false 0 false true B false true false false false false 0 false 0 false true C false false false true true false 0 false 0 false true A true B true C true PART II, LINE 3, BOND ISSUE A THE DIFFERENCE BETWEEN TOTAL PROCEEDS IN PART II, LINE 3 AND THE ISSUE PRICE OF THE BOND ISSUE IS INVESTMENT EARNINGS OF $539. PART II, LINE 3, BOND ISSUE B THE DIFFERENCE BETWEEN TOTAL PROCEEDS IN PART II, LINE 3 AND THE ISSUE PRICE OF THE BOND ISSUE IS INVESTMENT EARNINGS OF $6,388. PART IV, LINE 2C BOND ISSUE C: APRIL 30, 2013 EDWARD A COOLEY HIGH COMP. EMPLOYEE PERSONAL LOAN X 400000 266667 false true true 266667 NA N/A 38385 TUITION TUITION REMISSION X 39 1290172 SELLING PRICE X SOFTWARE 1 17000 FMV X MISCELLANEOUS 51 383338 FMV 1 false true false CONTRIBUTIONS PART I, COLUMN (B) THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. ORGANIZATION'S MISSION PART III, LINE 1 PROVIDENCE COLLEGE IS A CATHOLIC, DOMINICAN, LIBERAL ARTS INSTITUTION OF HIGHER EDUCATION AND A COMMUNITY COMMITTED TO ACADEMIC EXCELLENCE IN PURSUIT OF THE TRUTH, GROWTH IN VIRTUE, AND SERVICE OF GOD AND NEIGHBOR. HISTORY PROVIDENCE COLLEGE WAS FOUNDED IN 1917 BY THE DOMINICAN FRIARS AT THE INVITATION OF BISHOP HARKINS TO PROVIDE A CATHOLIC EDUCATION IN THE ARTS AND SCIENCES. FAITH AND REASON PROVIDENCE COLLEGE IS CONFIDENT IN THE APPEAL OF REASON, BELIEVES THAT HUMAN BEINGS ARE DISPOSED TO KNOW THE TRUTH, AND TRUSTS IN THE POWER OF GRACE TO ENLIGHTEN MINDS, OPEN HEARTS, AND TRANSFORM LIVES. PROVIDENCE COLLEGE MAINTAINS THAT THE PURSUIT OF TRUTH HAS INTRINSIC VALUE, THAT FAITH AND REASON ARE COMPATIBLE AND COMPLEMENTARY MEANS TO ITS DISCOVERY, AND THAT THE SEARCH FOR TRUTH IS THE BASIS FOR DIALOGUE WITH OTHERS AND CRITICAL ENGAGEMENT WITH THE WORLD. ACADEMIC EXCELLENCE PROVIDENCE COLLEGE IS COMMITTED TO ACADEMIC EXCELLENCE, AND HOLDS ITSELF TO THE HIGHEST STANDARDS IN TEACHING, LEARNING, AND SCHOLARSHIP. ITS CORE CURRICULUM ADDRESSES KEY QUESTIONS OF HUMAN EXISTENCE, INCLUDING LIFE'S MEANING AND PURPOSE, AND STRESSES THE IMPORTANCE OF MORAL AND ETHICAL REASONING, AESTHETIC APPRECIATION, AND UNDERSTANDING THE NATURAL WORLD, OTHER CULTURES, AND DIVERSE TRADITIONS. PROVIDENCE COLLEGE HONORS ACADEMIC FREEDOM, PROMOTES CRITICAL THINKING AND ENGAGED LEARNING, AND ENCOURAGES A PEDAGOGY OF DISPUTED QUESTIONS. COMMUNITY AND DIVERSITY PROVIDENCE COLLEGE SEEKS TO REFLECT THE RICH DIVERSITY OF THE HUMAN FAMILY. FOLLOWING THE EXAMPLE OF ST. DOMINIC, WHO EXTENDED A LOVING EMBRACE TO ALL, IT WELCOMES QUALIFIED MEN AND WOMEN OF EVERY BACKGROUND AND AFFIRMS THE GOD-GIVEN DIGNITY, FREEDOM, AND EQUALITY OF EACH PERSON. PROVIDENCE COLLEGE PROMOTES THE COMMON GOOD, THE HUMAN FLOURISHING OF EACH MEMBER OF THE CAMPUS COMMUNITY, AND SERVICE OF NEIGHBORS NEAR AND FAR. VERITAS AND PROVIDENCE PROVIDENCE COLLEGE BRINGS THE EIGHT-HUNDRED-YEAR-OLD DOMINICAN IDEAL OF VERITAS TO THE ISSUES AND CHALLENGES OF TODAY. IT SEEKS TO SHARE THE FRUITS OF CONTEMPLATION IN AN INCREASINGLY GLOBAL AND DIVERSE SOCIETY, AND TO PRAISE AND BLESS ALL THAT IS GOOD AND VITAL IN HUMAN ENDEAVORS. PROVIDENCE COLLEGE SUPPORTS THE DOMINICAN MISSION OF PREACHING THE GOSPEL OF JESUS CHRIST TO A NEW GENERATION OF STUDENTS AND HELPING THEM DISCOVER GOD'S PROVIDENCE IN THEIR LIVES. 12-MEMBER CORPORATION PART VI, SECTION A, LINES 6-8B THE 12-MEMBER CORPORATION IS THE BODY THAT HAS THE ULTIMATE AUTHORITY TO EXERCISE CONTROL OVER OWNERSHIP OF PROPERTY, TO PROMULGATE AND AMEND THE BY-LAWS, TO ACCEPT OR REJECT THE RECOMMENDATION FOR ELECTION TO THE PRESIDENCY OF THE COLLEGE BY THE BOARD OF TRUSTEES, AND TO ELECT MEMBERS OF THE CORPORATION AND OF THE BOARD OF TRUSTEES. THE CORPORATION IS COMPRISED OF FOUR EX OFFICIO MEMBERS AND EIGHT OTHER INDIVIDUALS ELECTED BY THE CORPORATION, FOUR DOMINICAN FRIARS AND FOUR LAY PERSONS. THE EX OFFICIO MEMBERS ARE: THE PROVINCIAL OF THE PROVINCE OF ST. JOSEPH, THE ELECTED LEADER OF THE DOMINICAN ORDER FOR THE EASTERN REGION OF THE UNITED STATES; THE ROMAN CATHOLIC BISHOP OF THE DIOCESE OF PROVIDENCE; THE PRESIDENT OF THE COLLEGE; AND THE CHAIRMAN OF THE BOARD OF TRUSTEES. THE TERMS OF OFFICE OF THE BISHOP, THE PRESIDENT, THE PROVINCIAL AND THE CHAIRMAN OF THE BOARD OF TRUSTEES ARE CO-TERMINUS WITH THE RESPECTIVE INCUMBENCY OF EACH. THE TERM OF ALL OTHER MEMBERS IS THREE YEARS. FORM 990 REVIEW PROCESS PART VI, SECTION B, LINE 11A THE FORM 990 WILL BE COMPLETED ANNUALLY AND COPIES WILL BE PROVIDED TO THE ENTIRE GOVERNING BOARD VIA POSTING ON THE TRUSTEES ONLY AREA OF THE COLLEGE WEBSITE. MEMBERS OF THE AUDIT COMMITTEE WILL REVIEW THE FORM 990 WITH THE COLLEGE'S PRESIDENT, EXECUTIVE VICE PRESIDENT/TREASURER, SR. VICE PRESIDENT FOR FINANCE & BUSINESS/CFO, AND CONTROLLER. AT THE DISCRETION OF THE AUDIT COMMITTEE CHAIR, THE THIRD PARTY PREPARER OF THE FORM 990 MAY BE ASKED TO ATTEND. ANY NECESSARY CHANGE, IDENTIFIED THROUGH THE REVIEW PROCESS, WILL BE MADE TO THE ORIGINALLY SUBMITTED FORM 990. THIS UPDATED VERSION OF THE FORM 990 WILL BE CONSIDERED APPROVED FOR FILING. IT WILL BE SIGNED BY THE SR. VICE PRESIDENT FOR FINANCE & BUSINESS/CFO, DATED, AND SUBMITTED BY THE FILING DEADLINE. A COPY OF THE APPROVED FORM 990 WILL BE PROVIDED, VIA POSTING ON THE TRUSTEES ONLY AREA OF THE COLLEGE WEBSITE, TO ALL OF THE OFFICERS AND TRUSTEES BEFORE THE RETURN IS FILED. CONFLICT OF INTEREST POLICY PART VI, SECTION B, LINE 12C ALL OFFICERS, TRUSTEES, AND KEY EMPLOYEES ARE REQUIRED TO DISCLOSE ANNUAL INTERESTS THAT COULD GIVE RISE TO CONFLICTS. ALL CONFLICT OF INTEREST DISCLOSURE FORMS ARE REVIEWED BY THE COLLEGE'S GENERAL COUNSEL, THE CHAIRMEN OF THE AUDIT COMMITTEE, AND A DESIGNEE OF THE CORPORATION. ISSUES ARISING UNDER THE APPLICATION OF THIS POLICY SHALL BE RESOLVED BY THE BOARD OF TRUSTEES OR THE EXECUTIVE COMMITTEE. COMPENSATION POLICY PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES ANNUALLY REVIEWS THE POLICIES, PROGRAMS, AND TOTAL COMPENSATION FOR EXECUTIVES TO ENSURE COMPLIANCE WITH FEDERAL REGULATIONS CONCERNING EXECUTIVE COMPENSATION IN NON-PROFIT ORGANIZATIONS. COMPETITIVE SURVEY DATA IS COLLECTED, ANALYZED, AND SUMMARIZED BY THE ASSOCIATE VICE PRESIDENT FOR HUMAN RESOURCES AND IS REVIEWED ANNUALLY BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. SALARIES ARE BASED UPON THE EXECUTIVE'S SCOPE, SIZE, AND COMPLEXITY OF RESPONSIBILITIES AS WELL AS PERFORMANCE AGAINST GOALS AND OBJECTIVES. BENEFITS FOR EXECUTIVES ARE THE SAME AS THOSE OFFERED TO ALL COLLEGE EMPLOYEES. THIS PROCESS IS USED TO ESTABLISH COMPENSATION FOR THE FOLLOWING: PRESIDENT, EVP/TREASURER, VP FOR STUDENT AFFAIRS, SR VP OF ACADEMIC AFFAIRS/PROVOST, VP AND GENERAL COUNSEL, SR VP FOR FINANCE/CFO, SR VP FOR INSTITUTIONAL ADVANCEMENT AND VP FOR MISSION AND MINISTRY. THIS PROCESS IS DONE ANNUALLY. PART VI, SECTION B, LINE 15B PROVIDENCE COLLEGE'S PRESIDENT AND EVP/TREASURER ARE MEMBERS OF THE DOMINICAN FRIARS, A CATHOLIC RELIGIOUS ORDER. THEY ARE PROVIDED ON CAMPUS HOUSING AND HEALTHCARE BENEFITS BY THE COLLEGE. THE COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES IS SET BY THE PRESIDENT OF THE COLLEGE. INDEPENDENT COMPENSATION COMPARABILITY SURVEYS ARE USED PERIODICALLY IN SETTING COMPENSATION. THE COLLEGE COMPLIES WITH THE THREE REQUIREMENTS OF THE REBUTTABLE PRESUMPTION STANDARD, AS OUTLINED IN TREASURY REGULATIONS SECTION 53.4958-6: (1) EXECUTIVE COMPENSATION IS AUTHORIZED BY AN INDEPENDENT COMMITTEE OF THE BOARD OF DIRECTORS, (2) THE COMMITTEE AUTHORIZING EXECUTIVE COMPENSATION OBTAINS AND RELIES ON APPROPRIATE DATA AS TO COMPARABILITY PRIOR TO MAKING DETERMINATIONS, AND (3) THE COMMITTEE ADEQUATELY DOCUMENTS THE BASIS FOR DETERMINATIONS CONCURRENTLY WITH MAKING THE DETERMINATIONS. PUBLIC DISCLOSURE POLICY PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC ON THE WEBSITE. THE COLLEGE COMMUNITY (FACULTY, STAFF, AND STUDENTS) HAVE ACCESS TO THE CONFLICT OF INTEREST POLICY THROUGH THE COLLEGE'S WEBSITE. FINANCIAL STATEMENTS ARE AVAILABLE TO ANYONE UPON REQUEST. THE FORM 990 IS POSTED ON THE INTERNET AT WWW.GUIDESTAR.ORG. OTHER CHANGES IN NET ASSETS OR FUND BALANCES PART XI, LINE 9 PART VI, SECTION C, LINE 19 POST RETIREMENT BENEFIT OBLIGATION $ (63,185) PROVISION FOR DOUBTFUL PLEDGES $ (523,325) TOTAL $ (586,510) CHARITABLE REMAINDER TRUSTS (1) INVESTING RI PC TRUST true CHARITABLE PERPETUAL TRUST (1) INVESTING RI PC TRUST true false false false false false false false false false false false false false false false false false false