2015-05-13T14:17:02-05:00 2014-06-30 061009205 BLUM SHAPIRO & COMPANY PC CPA'S 29 S MAIN STREET PO BOX 272000 WEST HARTFORD CT 061272000 990 2013-07-01 060776644 SACRED HEART UNIVERSITY INCORPORATED SACR 2033717872 5151 PARK AVENUE FAIRFIELD CT 06825 MICHAEL J KINNEY SR VP FOR FINANCE & ADMIN 2033717872 2015-05-13 1 ELIZABETH SOLECKI P00235171 8605614000 2015-05-13 2013 2016-02-25 16:41:14Z JOHN PETILLO 5151 PARK AVENUE FAIRFIELD CT 06825 239469307 0 X WWW.SACREDHEART.EDU X 1963 CT THE UNIVERSITY IS A CO-EDUCATIONAL INSTITUTION OF HIGHER LEARNING OFFERING UNDERGRADUATE AND GRADUATE DEGREES, AS WELL AS CONTINUING EDUCATION IN A VARIETY OF DISCIPLINES, WITH A COMMITMENT TO LEADERSHIP IN CATHOLIC HIGHER EDUCATION. 23 22 3447 150 1051617 -327734 12436911 12206606 188510887 215419297 8632779 11451682 -131821 -282513 209448756 238795072 41250975 49292156 0 0 78936933 84803329 0 157432 2169922 68244544 75629005 188432452 209881922 21016304 28913150 376276478 421333358 167684803 175456217 208591675 245877141 X AT SACRED HEART UNIVERSITY, WE NOT ONLY PREPARE STUDENTS FOR THE FUTURE, BUT ALSO GIVE THEM A DEEPER APPRECIATION OF WHO THEY ARE AND ALL THEY CAN BE. THROUGH OUR DISTINCTIVE MISSION AND COMMITMENT TO LEADERSHIP IN CATHOLIC HIGHER EDUCATION, WE HELP STUDENTS HELP OTHERS AND, TOGETHER, WE MAKE A DIFFERENCE IN THE WORLD. THE SHU MISSION: THE PURSUIT OF TRUTH AND KNOWLEDGE AS INTRINSICALLY VALUABLE; COMMITMENT TO EXCELLENCE IN ALL THAT WE DO; RESPONSIBILITY FOR THE COMMON GOOD OF SOCIETY; RECOGNITION OF THE DIGNITY AND WORTH OF EVERY HUMAN BEING; PRESERVATION, TRANSMISSION AND DEVELOPMENT OF THE LIBERAL ARTS AND CATHOLIC INTELLECTUAL TRADITION. OUR VISION IS TO SHAPE GRADUATES KNOWLEDGEABLE OF SELF, ROOTED IN FAITH, EDUCATED IN MIND, COMPASSIONATE IN HEART, RESPONSIVE TO SOCIAL AND CIVIC OBLIGATIONS AND ABLE TO RESPOND TO AN EVER-CHANGING WORLD. 0 0 67945662 178434099 SACRED HEART CONTINUES TO OFFER A WIDE RANGE OF UNDERGRADUATE AND GRADUATE PROGRAMS. REGARDLESS OF WHAT UNDERGRADUATE PROGRAM OR GRADUATE STUDIES ARE CHOSEN, OUR FOCUS ON ACADEMIC OPPORTUNITIES - ROOTED IN THE CATHOLIC INTELLECTUAL TRADITION AND THE PRINCIPLES OF ENGAGED LEARNING - CREATES AN ABSORBING, CUSTOMIZED EDUCATIONAL EXPERIENCE FOR EACH STUDENT. 49292156 49292156 0 SACRED HEART UNIVERSITY'S STUDENT FINANCIAL ASSISTANCE OFFICE IS COMMITTED TO HELPING STUDENTS AND THEIR FAMILIES FIND THE MOST AFFORDABLE OPTIONS AVAILABLE FOR ATTENDING COLLEGE. FOR FULL-TIME UNDERGRADUATE STUDENTS, THERE ARE BASICALLY TWO TYPES OF FINANCIAL ASSISTANCE: FIRST, TRADITIONAL MERIT OR NEED-BASED AID; AND SECOND, A RANGE OF OTHER OPTIONS OPEN TO STUDENTS AND THEIR FAMILIES WHETHER THEY QUALIFY FOR TRADITIONAL AID OR NOT. SEVERAL FINANCIAL ASSISTANCE OPTIONS ARE ALSO AVAILABLE TO QUALIFIED PART-TIME UNDERGRADUATE STUDENTS AND GRADUATE STUDENTS. 36062988 0 2797829 SACRED HEART UNIVERSITY IS COMMITTED TO SERVING THE NEEDS OF ITS DIVERSE STUDENT POPULATION BY OFFERING AN ARRAY OF SERVICES DESIGNED TO ENSURE STUDENT SUCCESS. THESE SERVICES, PROVIDED THROUGH ACADEMIC ADVISING, STUDENT LIFE, CAREER SERVICES, JANDRESEVITS LEARNING CENTER, THE OFFICE OF SPECIAL SERVICES, AND THE WELLNESS CENTER, AIM TO SERVE STUDENTS IN A MANNER THAT IS CONSISTENT WITH THE MISSION. THE UNIVERSITY ALSO PROMOTES ACTIVE ENGAGED LEARNING OUTSIDE OF THE CLASSROOM. OUR ATHLETICS PROGRAMS ARE ABOUT MORE THAN JUST COMPETITION AND WINNING THEY ARE BUILT ON A LONGSTANDING TRADITION OF HELPING OUR STUDENT-ATHLETES REALIZE THEIR POTENTIAL, STRENGTHEN THEIR CHARACTER, AND EMPOWER THEIR MINDS WHILE DEVELOPING SELF-CONFIDENCE AND VALUABLE LEADERSHIP SKILLS. 32432849 33135949 OTHER GENERAL AND AUXILIARY SERVICES. 32432849 33135949 185733655 1 1 0 1 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 1 1 0 1 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 591 0 1 3447 1 1 1 1 EI LU 0 0 0 1 1 0 0 0 1 0 X 23 22 0 0 0 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X MICHAEL J KINNEY 2033717872 5151 PARK AVENUE FAIRFIELD CT 06825 JAMES T MORLEY JR CHAIRMAN OF THE BOARD 1.00 X X 0 0 0 FRANK R MARTIRE VICE CHAIRMAN 1.00 X X 0 0 0 CHRISTOPHER K MCLEOD SECRETARY 1.00 X X 0 0 0 TERESA M RESSEL TREASURER 1.00 X X 0 0 0 ROSANNE BADOWSKI TRUSTEE 1.00 X 0 0 0 NORBERT BECKER TRUSTEE 1.00 X 0 0 0 MARY-ANN BUNTING TRUSTEE 1.00 X 0 0 0 PATRICK J CAROLAN MD TRUSTEE 1.00 X 0 0 0 ROBERT L CORCORAN TRUSTEE 1.00 X 0 0 0 REV MSGR WILLIAM A GENUARIO JCD TRUSTEE 1.00 X 0 0 0 BRIAN H HAMILTON TRUSTEE 1.00 X 0 0 0 REV ROBERT M KINNALLY TRUSTEE 1.00 X 0 0 0 GARY J LEVIN TRUSTEE 1.00 X 0 0 0 VINCENT MAFFEO TRUSTEE 1.00 X 0 0 0 PATRICK G MAGGITTI PH D TRUSTEE 1.00 X 0 0 0 MURRAY D MARTIN TRUSTEE 1.00 X 0 0 0 DANIEL MCCARTHY TRUSTEE 1.00 X 0 0 0 LINDA E MCMAHON TRUSTEE 1.00 X 0 0 0 WILLIAM E MITCHELL TRUSTEE 1.00 X 0 0 0 THOMAS L RICH TRUSTEE 1.00 X 0 0 0 RICHARD M SCHAEFFER TRUSTEE 1.00 X 0 0 0 LOIS SCHINE TRUSTEE 1.00 X 0 0 0 JOHN J PETILLO PRESIDENT 35.00 X X 537854 0 35377 MICHAEL J KINNEY SR. VICE PRESIDENT 35.00 X 297693 0 32625 MICHAEL LAROBINA ESQ GENERAL COUNSEL 35.00 X 207503 0 14732 LAURA NIESEN DE ABRUNA PROVOST AND VICE PRESIDENT 35.00 X 319719 0 28100 JAMES BARQUINERO SR. VICE PRESIDENT 35.00 X 277712 0 28641 MEGAN ROCK VICE PRESIDENT 35.00 X 231412 0 22879 ROBERT M HARDY VICE PRESIDENT 35.00 X 193646 0 17263 JOHN CHALYKOFF DEAN 35.00 X 305229 0 26825 JAMES CAREY DEAN 35.00 X 213563 0 21489 PATRICIA WALKER DEAN 35.00 X 213573 0 19822 PHILIP MCCABE VICE PRESIDENT 35.00 X 210761 0 14208 MIKE TRIMBLE VICE PRESIDENT 35.00 X 200797 0 13591 ANTHONY J CERNERA FORMER PRES/CEO 35.00 X 300271 0 13587 THOMAS FORGET FORMER VICE PRESIDENT/ASSOC PROFESSOR 35.00 X 175653 0 20235 3685386 0 309374 100 1 1 0 CHARTWELL'S HIGHER EDUCATION C/O BANK OF AMERICA PO BOX 91337 CHICAGO IL 60693 FOOD SERVICES 8215557 DELTAK EDU INC 1415 WEST 22ND STREET OAK BROOK IL 60523 ONLINE EDUCATION SERVICES 4073986 SASAKI ASSOCIATES INC 64 PLEASANT STREET WATERTOWN MA 02472 ARCHITECTURAL SERVICES 1042699 NATIONAL PUBLIC RADIO PO BOX 79540 BALTIMORE MD 21279 BROADCASTING 767437 SECURITAS SECURITY SERVICES 57 PLAINS ROAD SUITE 1B MILFORD CT 06461 SECURITY 509821 92 1084793 2625404 8496409 521625 12206606 TUITION AND FEES 611310 178434099 178434099 AUXILIARY ACTIVITIES 611310 32465681 32081685 383996 OTHER INCOME 900099 2824107 2180916 643191 PITT CENTER & ATHLETICS 611310 1695410 1671177 24233 215419297 1932945 61 1932884 218552 226559 -8007 -8007 -8007 9518737 0 9518737 9518737 136 9518601 173170 1084793 447676 -274506 -274506 238795072 214367877 1051617 11168972 49284312 49284312 7844 7844 2210644 649097 1322425 239122 158050 158050 64595114 56848735 6629795 1116584 3577414 3033406 466035 77973 9706780 8612306 941541 152933 4555327 3862610 593430 99287 390926 32976 357950 208915 208915 157432 157432 861564 861564 17610942 16148962 1323649 138331 1368060 576631 791281 148 3918916 3334022 488900 95994 491060 256906 234132 22 11591459 10988416 586905 16138 5164102 4709658 391670 62774 526810 460803 59873 6134 4541639 3139653 1401986 11167539 10110773 1056766 2460644 996966 1463678 CONTRACT SERVICES 7298685 5872049 1417136 9500 PURCHASING 4023830 3555582 465430 2818 DUES AND SUBSCRIPTIONS 1270820 944394 296830 29596 REPAIRS AND MAINTENANCE 727678 700377 27301 2005416 1449127 591153 -34864 209881922 185733655 21978345 2169922 28971266 28768866 3991787 4745747 1425636 1388229 365984133 133991264 195068748 231992869 124121845 137122385 22697196 17315262 376276478 421333358 18752802 27296643 21342367 26079461 110906865 106978748 16388674 14691690 294095 409675 167684803 175456217 X 182069579 216063469 13921406 16755472 12600690 13058200 208591675 245877141 376276478 421333358 X 28913150 9071968 350 -700002 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 0 PART II-B, LINE 1: SACRED HEART UNIVERSITY MAY INDIRECTLY INCUR LOBBYING EXPENSE THROUGH DUES PAID TO OTHER ORGANIZATIONS. 2785 893050 X 0 124279645 5451524 20566584 12151766 861564 137284423 112727911 1784436 15742517 5122312 852907 124279645 108336892 5514054 54371 521859 655547 112727911 81912232 6318543 21349512 636823 606572 108336892 67039061 6641974 8570742 339545 81912232 0.83580 0.09510 0.06910 0 0 17152580 17152580 160436872 51315357 109121515 85511463 34275713 51235750 45683842 38646463 7037379 57199376 9753731 47445645 231992869 GOVERNMENT GRANTS REFUNDABLE - STUDENT LOANS 409675 409675 X 197715903 9071968 28350 -50853722 -41753404 239469307 -674235 -674235 238795072 160430437 28000 674235 702235 159728202 50153720 50153720 209881922 PART III, LINE 4: WORKS OF ART ARE CONTRIBUTED TO THE UNIVERSITY FROM VARIOUS DONORS OR PURCHASED FOR PUBLIC EXHIBITION. THE SCHOOL DISPLAYS THEM IN VARIOUS LOCATIONS ACROSS THE UNIVERSITY FOR PUBLIC VIEWING. PART V, LINE 4: THE UNIVERSITY USES THE FUNDS FOR STUDENT SCHOLARSHIPS, TO PROVIDE EDUCATIONAL AND SUPPORT SERVICES, AND TO MAINTAIN AND EXPAND THE UNIVERSITY CAPITAL INFRASTRUCTURE IN ORDER TO SUSTAIN THE UNIVERSITY'S FINANCIAL STABILITY. PART X, LINE 2: THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A), AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AS AMENDED. ACCORDINGLY, IT IS NOT SUBJECT TO INCOME TAXES EXCEPT TO THE EXTENT IT HAS TAXABLE INCOME FROM ACTIVITIES THAT ARE NOT RELATED TO ITS EXEMPT PURPOSE. THE UNIVERSITY RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. NO PROVISION FOR INCOME TAXES WAS REQUIRED FOR FISCAL 2014 OR 2013. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -49,292,156. INVESTMENT FEES -861,564. MISC. ADJUSTMENT -2. PROVISION FOR LAND HELD FOR SALE -700,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -447,676. RENTAL EXPENSES -226,559. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 447,676. RENTAL EXPENSES 226,559. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 49,292,156. INVESTMENT FEES 861,564. 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 IS COMMITTED TO FULLFILLING ITS MISSION WITHOUT DISCRIMINATION ON THE BASIS OF RACE, COLOR, NATIONAL ORIGIN, RELIGION, AGE, SEXUAL ORIENTATION, DISABILITY OR VETERAN STATUS. SCHEDULE E, PART I, LINE 6 SACRED HEART UNIVERSITY RECEIVES FUNDS FROM THE US DEPARTMENT OF EDUCATION. THE PROGRAM FUNDS THAT THE UNIVERSITY ADMINISTERS ARE FEDERAL PELL GRANT, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (FSEOG) AND FEDERAL WORK-STUDY (FWS), WHICH ARE TITLE IV STUDENT AID PROGRAMS. THE UNIVERSITY ALSO RECEIVES FUNDS AND PROCESSES ACCORDING TO THE CRITERIA OF STATE GOVERNMENT AGENCIES. PRIMARY FUNDING IS FROM THE STATE OF CONNECTICUT OFFICE OF HIGHER EDUCATION. OTHER STATES INCLUDE; DELAWARE, MASSACHUSETTS, PENNSYLVANIA, RHODE ISLAND AND VERMONT. THE STATES ARE SUBJECT TO CHANGE EACH YEAR DEPENDING ON THOSE STATES THAT OFFER ASSISTANCE TO STATE RESIDENTS ATTENDING AN OUT OF STATE INSTITUTION. 1 EUROPE (INCLUDING ICELAND & GREENLAND) - 2 7 PROGRAM SERVICES EDUCATIONAL 1764202 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PROGRAM SERVICES/MISSION RELATED TRIPS EDUCATIONAL 221553 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES EDUCATIONAL 56709 SOUTH ASIA 0 0 PROGRAM SERVICES EDUCATIONAL 17124 2 7 0 0 2 7 2059588 0 2059588 ASSISTANCE WITH ASIA TRIP TUITION EUROPE (INCLUDING ICELAND & GREENLAND) 4 7844 DISCOUNT POSTED TO STUDENT ACCOUNT 0 1 0 0 1 0 1 PART I, LINE 3: IRELAND: SACRED HEART UNIVERSITY OFFERS STUDENTS THE OPPORTUNITY TO DELVE INTO IRISH CULTURE IN THE HEART OF THE IRISH-SPEAKING DINGLE GAELTACHT REGION. STUDENTS STUDY IN IRISH SURROUNDINGS AND LIVE THE IRISH EXPERIENCE THROUGH HANDS-ON SEMINARS LED BY ACCOMPLISHED SCHOLARS AND LOCAL EXPERTS. WHAT DEVELOPS IS A PROFOUND UNDERSTANDING OF CELTIC CULTURE, AS WELL AS A GREATER APPRECIATION OF DIVERSE SOCIETIES. LUXEMBOURG: THE JOHN F. WELCH COLLEGE OF BUSINESS OFFERS AN MBA CURRICULUM THAT EMPHASIZES A GLOBAL BUSINESS EDUCATION. OUR LUXEMBOURG PROGRAMS FACILITATE A RICH LEARNING EXPERIENCE WITH A FACULTY MIX OF ACCOMPLISHED SCHOLARS AND EXPERIENCED BUSINESS EXECUTIVES FROM BOTH EUROPE AND THE US WHO TEACH IN AN APPLIED LEARNING ENVIRONMENT WITH REAL-WORLD BUSINESS CASE STUDIES AND PROJECTS. SACRED HEART UNIVERSITY OFFERS A VARIETY OF STUDY ABROAD OPPORTUNITIES AROUND THE WORLD FOR SACRED HEART AND VISITING STUDENTS - WITH PROGRAMMING THAT SUPPORTS A BROAD RANGE OF EDUCATIONAL, PROFESSIONAL, AND PERSONAL OBJECTIVES. THE UNIVERSITY OFFERS ON AVERAGE 12 FACULTY-LED PROGRAMS IN 10 COUNTRIES EACH YEAR. ON THESE PROGRAMS STUDENTS DEVELOP THE HABITS OF MIND, HEART, AND SPIRIT THAT WILL PREPARE THEM TO ENGAGE PURPOSEFULLY IN A GLOBAL WORLD. COURSES COMPLETED ON A SACRED HEART STUDY ABROAD PROGRAM MAY FULFILL GENERAL EDUCATION, ELECTIVE, OR MAJOR/MINOR CREDITS, ENABLING STUDENTS, REGARDLESS OF ACADEMIC PLAN, TO STUDY ABROAD AND GRADUATE ACCORDING TO THEIR INDIVIDUAL SCHEDULES. ADDITIONAL OPPORTUNITIES ARE ALSO AVAILABLE FOR CLINICAL CREDIT OR EXPERIENTIAL LEARNING. SACRED HEART UNIVERSITY SUPPORTS STUDY ABROAD PROGRAMMING BY IDENTIFYING, DEVELOPING, NURTURING, AND MAINTAINING A DIVERSE SET OF INTERNATIONAL PROGRAMS WITH A COMMITMENT TO QUALITY, SAFETY, AFFORDABILITY AND ACCESSIBILITY. X X X X X X X 1 CHANGING OUR WORLD 220 EAST 42ND STREET 5TH FLOOR NEW YORK NY 10017 CAMPAIGN CONSULTING SERVICES 0 0 157432 0 157432 PIONEER GOLF TOURNAMENT 209844 170274 39570 14924 11102 14215 15103 DISCOVERY GALA 737109 680384 56725 4000 50560 145000 38152 4 311010 234135 76875 32650 45255 44780 31935 1257963 1084793 173170 51574 56357 109555 145000 85190 447676 -274506 1 FEDERAL AID 323 285735 STATE AID 403 1099454 RESIDENCE HALL ASSISTANT WAIVERS AND AWARDS 91 711649 OTHER SCHOLARSHIPS WHICH ARE NEEDS BASED OR BASED ON ATHLETIC OR ACADEMIC TALENTS 3943 47179630 PART I, LINE 2: THE THREE AREAS OF FINANCIAL ASSISTANCE TO STUDENTS ARE LOANS, GRANTS, AND EMPLOYMENT (WORK-STUDY). THESE ARE GENERALLY AWARDED ON THE BASIS OF FINANCIAL NEED, DETERMINED BY AN ANALYSIS OF FAMILY INCOME AND ASSETS. SCHOLARSHIPS ARE ANOTHER SOURCE OF FINANCIAL ASSISTANCE, AWARDED ON THE BASIS OF ACADEMIC ACHIEVEMENT, ATHLETICS OR PERFORMING ARTS, COMMUNITY SERVICE OR LEADERSHIP. CRITERIA FOR MERIT BASED AWARDS MAY ALSO INCLUDE A FINANCIAL NEEDS REQUIREMENT. THE UNIVERSITY MONITORS THE AMOUNT ISSUED BY CALCULATING A COST OF ATTENDANCE, ASSESSING AN ESTIMATED FAMILY CONTRIBUTION (EFC), AND DERIVING A LEVEL OF FINANCIAL NEED. ONCE THE AMOUNT OF AID HAS BEEN DETERMINED FOR THE INDIVIDUAL, IT IS DISPERSED TO THE STUDENT'S ACCOUNT AND IS CONTROLLED BY THE BURSAR'S OFFICE. SEVERAL REPORTS/SURVEYS ARE USED ANNUALLY TO MONITOR THE DISTRIBUTION OF GRANT ASSISTANCE; FOR EXAMPLE, FISAP REPORT TO USDE, A-133 AUDIT, FEDERAL IPEDS REPORT, STATE ANNUAL AUDIT, AND VARIOUS SURVEYS THAT TYPICALLY USE INFORMATION FROM THE COMMON DATA SET (CDS). X X X 1 1 X X X X X 1 0 0 1 0 1 0 1 1 1 JOHN J PETILLO PRESIDENT 330825 0 183951 0 23078 0 28702 0 6675 0 573231 0 0 0 MICHAEL J KINNEY SR. VICE PRESIDENT 222754 0 70814 0 4125 0 24162 0 8463 0 330318 0 0 0 MICHAEL LAROBINA ESQ GENERAL COUNSEL 168850 0 34852 0 3801 0 13599 0 1133 0 222235 0 0 0 LAURA NIESEN DE ABRUNA PROVOST AND VICE PRESIDENT 244347 0 67736 0 7636 0 25199 0 2901 0 347819 0 0 0 JAMES BARQUINERO SR. VICE PRESIDENT 187872 0 58495 0 31345 0 20371 0 8270 0 306353 0 0 0 MEGAN ROCK VICE PRESIDENT 186250 0 41171 0 3991 0 18541 0 4338 0 254291 0 0 0 ROBERT M HARDY VICE PRESIDENT 154912 0 33879 0 4855 0 15263 0 2000 0 210909 0 0 0 JOHN CHALYKOFF DEAN 234967 0 70262 0 0 0 19392 0 7433 0 332054 0 0 0 JAMES CAREY DEAN 163825 0 49210 0 528 0 13727 0 7762 0 235052 0 0 0 PATRICIA WALKER DEAN 163657 0 47617 0 2299 0 13591 0 6231 0 233395 0 0 0 PHILIP MCCABE VICE PRESIDENT 173406 0 32894 0 4461 0 13897 0 311 0 224969 0 0 0 MIKE TRIMBLE VICE PRESIDENT 164870 0 32043 0 3884 0 13591 0 0 0 214388 0 0 0 ANTHONY J CERNERA FORMER PRES/CEO 151182 0 0 0 149089 0 12205 0 1382 0 313858 0 0 0 THOMAS FORGET FORMER VICE PRESIDENT/ASSOC PROFESSO 173559 0 0 0 2094 0 14355 0 5880 0 195888 0 0 0 PART I, LINE 1A THE UNIVERSITY FUNDS A GOLF CLUB MEMBERSHIP IN THE NAME OF AN OFFICER AS WELL AS PARTIAL SPONSORSHIP OF A SOCIAL CLUB. THE MEMBERSHIPS ARE USED FOR UNIVERSITY EVENTS AND THE ENTERTAINMENT OF PROSPECTIVE DONORS AND CONTRIBUTORS. THE GOLF COURSE IS ALSO AVAILABLE FOR THE UNIVERSITY GOLF TEAM PRACTICES. PART I, LINE 3 COMPENSATION FOR THE UNIVERSITY'S PRESIDENT/CEO IS DETERMINED THROUGH AN EXTENSIVE REVIEW OF THE JOB RESPONSIBILITIES AND EXPECTATIONS OUTLINED BY THE BOARD. THE COMPENSATION COMMITTEE THEN PERFORMS A REVIEW OF EXTERNAL MARKET AND INDUSTRY SURVEY AND STUDY DATA. CONSIDERATION OF ALL ADDITIONAL RESPONSIBILITIES ARE DETAILED OUT IN SPECIFIC LANGUAGE IN AN EMPLOYMENT CONTRACT APPROVED BY OUR LEGAL COUNSEL. FINAL SALARY RANGES ARE THEN DETERMINED BY THE COMPENSATION COMMITTEE. COMPENSATION IS DETERMINED BY THE EVALUATION OF THE JOB DESCRIPTION AGAINST EXTERNAL MARKET DATA AVAILABLE AS WELL AS THE REVIEW OF OUR INTERNAL EMPLOYEE DATA. CONSIDERATION OF ADDITIONAL RESPONSIBILITIES AND OTHER FACTORS MAY ALSO CONTRIBUTE IN DETERMINING COMPENSATION. THE DELIBERATION AND DECISION ARE CONTEMPORANEOUSLY DOCUMENTED. PART I, LINE 4A ANTHONY J. CERNERA RECEIVED PAYMENTS OF $148,000 DURING CALENDAR YEAR 2013 IN SETTLEMENT FOR RELEASE OF HIS TENURE AND EMPLOYMENT OBLIGATIONS. PART I, LINE 5 BONUSES ARE PAID TO SENIOR STAFF MEMBERS BASED IN PART ON ACHIEVING BUDGETED REVENUE GOALS. PART I, LINE 6 BONUSES ARE PAID TO SENIOR STAFF MEMBERS BASED IN PART ON ACHIEVING THE TRANSFER TO THE TRUSTEE RESERVES. SENIOR STAFF MEMBERS HAVE PERFORMANCE MEASURES FOR MANAGING THE UNIVERSITY TO MAINTAIN A BALANCED BUDGET. PART I, LINE 7 THERE ARE QUANTITATIVE MEASURES THAT ARE APPLIED IN DETERMINING BONUSES TO SENIOR STAFF MEMBERS. THE PRESIDENT AND THE BOARD HAVE DISCRETION TO ADJUST THE PAYMENTS FOR UNUSUAL CIRCUMSTANCES. IN ALL CASES, THESE PAYMENTS ARE REVIEWED WITH AND APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. PART I, LINE 8 THE FOLLOWING INDIVIDUALS LISTED ON FORM 990, PART VII RECEIVED COMPENSATION THAT WAS PAID PURSUANT TO AN INITIAL CONTRACT WITH THE UNIVERSITY: - LAURA NIESEN DE ABRUNA, PROVOST AND VICE PRESIDENT - MICHAEL LAROBINA, GENERAL COUNSEL - MEGAN ROCK, VICE PRESIDENT - JOHN CHALYKOFF, DEAN PART I, LINE 9: COMPENSATION FOR THE UNIVERSITY'S OTHER OFFICERS AND KEY EMPLOYEES IS ORIGINALLY DETERMINED BASED ON EXTERNAL MARKET AND INDUSTRY SURVEY AS WELL AS THE REVIEW OF OUR INTERNAL EMPLOYEE DATA. ANY ADDITIONAL RESPONSIBILITIES ARE ALSO CONSIDERED. THE DATA IS REVIEWED BY A COMMITTEE AUTHORIZED BY THE BOARD OF TRUSTEES. DECISIONS AND AUTHORIZATIONS ARE DOCUMENTED AND PLACED ON FILE WITH THE VICE PRESIDENT OF HUMAN RESOURCES. A SACRED HEART UNIVERSITY - SERIES F 060776644 20774LD93 2003-12-11 21700000 RESIDENTIAL HOUSING 0 0 0 B SACRED HEART UNIVERSITY - SERIES G 060776644 20774U7W9 2011-06-29 44158819 CONSTRUCTION PROJECTS, REFINANCE OF DEBT, (SEE PART VI) 0 0 0 C SACRED HEART UNIVERSITY - SERIES H 060776644 20774YFA0 2012-02-14 47740000 REFUNDING OF SERIES E BONDS ISSUED 12/1/98. (SEE PART VI) 0 0 0 A 3095000 21700000 433932 173254 21092814 2005 0 0 1 1 B 1860000 44158819 11873235 875145 28223370 5000 2013 1 0 1 1 C 4430000 51549213 51548514 699 2012 1 0 1 1 A 0 0 1 1 0 0.00370 0.00370 0 0 1 B 0 0 1 1 0 0.00020 0.00020 0 0 1 A 0 0 0 1 1 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: SACRED HEART UNIVERSITY - SERIES F DATE THE REBATE COMPUTATION WAS PERFORMED: 02/11/2008 PART 1 B (F) CONTINUED - REFUNDING AND DEFEASANCE OF EARLIER BOND ISSUE SERIES C (ISSUE DATE 4/24/1996) PART 1 C (F) CONTINUED - SERIES H INCLUDED NO PROJECTS. ALL PROCEEDS WERE USED TO REFUND SERIES E ISSUE. X 15554 FMV X 1 2000 FMV X 14 435733 FMV X RAFFLE GIFTS 183 43474 FMV X OTHER SUNDRY 197 24864 FMV 0 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE FOLLOWING IS THE SUCCESSION OF THE REVIEWS THAT OCCUR PRIOR TO FILING FORM 990. REVISIONS TO THE RETURN MAY BE MADE AT ANY POINT PRIOR TO FINAL FILING OF THE RETURN: THE RETURN IS PREPARED BY AN OUTSIDE PREPARER WITH THE ASSISTANCE OF THE ACCOUNTING STAFF. THE RETURN IS THEN INDEPENDENTLY REVIEWED BY THE CONTROLLER, THE VICE PRESIDENT FOR FINANCE, AND THE SENIOR VICE PRESIDENT FOR FINANCE AND ADMINISTRATION. COPIES OF THE RETURN ARE PROVIDED TO THE PRESIDENT, EACH MEMBER OF THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES AND THE CORPORATE SECRETARY FOR THEIR REVIEW AND COMMENT PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EVERY YEAR, THE CONFLICT OF INTEREST POLICY IS REVIEWED. ALL KEY EMPLOYEES, TRUSTEES AND OFFICERS OF THE UNIVERSITY ARE REQUIRED TO REVIEW AND COMPLETE THE FORMS AS APPROPRIATE, SIGN, AND SUBMIT THE FORMS TO THEIR MANAGER OR BOARD SECRETARY FOR REVIEW AND SIGNATURE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE UNIVERSITY'S PRESIDENT/CEO IS DETERMINED THROUGH AN EXTENSIVE REVIEW OF THE JOB RESPONSIBILITIES AND EXPECTATIONS OUTLINED BY THE BOARD. THE COMPENSATION COMMITTEE THEN PERFORMS A REVIEW OF EXTERNAL MARKET AND INDUSTRY SURVEY AND STUDY DATA. CONSIDERATION OF ALL ADDITIONAL RESPONSIBILITIES ARE DETAILED OUT IN SPECIFIC LANGUAGE IN AN EMPLOYMENT CONTRACT APPROVED BY OUR LEGAL COUNSEL. FINAL SALARY RANGES ARE THEN DETERMINED BY THE COMPENSATION COMMITTEE. COMPENSATION FOR OTHER KEY EMPLOYEES IS DETERMINED BY THE EVALUATION OF THE JOB DESCRIPTION AGAINST EXTERNAL MARKET DATA AVAILABLE AS WELL AS THE REVIEW OF OUR INTERNAL EMPLOYEE DATA. CONSIDERATION OF ADDITIONAL RESPONSIBILITIES AND OTHER FACTORS MAY ALSO CONTRIBUTE IN DETERMINING COMPENSATION. COMPENSATION FOR THE UNIVERSITY'S OTHER OFFICERS AND KEY EMPLOYEES IS ORIGINALLY DETERMINED BASED ON EXTERNAL MARKET AND INDUSTRY SURVEY AS WELL AS THE REVIEW OF OUR INTERNAL EMPLOYEE DATA. ANY ADDITIONAL RESPONSIBILITIES ARE ALSO CONSIDERED. THE DATA IS REVIEWED BY A COMMITTEE AUTHORIZED BY THE BOARD OF TRUSTEES. DECISIONS AND AUTHORIZATIONS ARE DOCUMENTED AND PLACED ON FILE WITH THE VICE PRESIDENT OF HUMAN RESOURCES. FINAL ANNUAL SALARY RECOMMENDATIONS FROM THE PRESIDENT ARE SUBMITTED FOR REVIEW AND APPROVED BY THE HUMAN RESOURCES COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 GUIDESTAR.ORG POSTS THE UNIVERSITY'S 990 FILING ANNUALLY. THIS MAKES THE 990 WIDELY AVAILABLE THROUGH THE INTERNET. COPIES ARE ALSO MADE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. GOVERNING DOCUMENTS AND THE ANNUAL FINANCIAL REPORT ARE MADE AVAILABLE TO BOARD MEMBERS AND IN COMPLIANCE WITH DEBT COVENANTS. UNIVERSITY EMPLOYEE AND FACULTY HANDBOOKS ARE POSTED ON THE UNIVERSITY WEBSITE. IN ADDITION, ALL STAFF AND FACULTY RECEIVE A HARD COPY. THE CONFLICT OF INTEREST POLICY IS ANNUALLY DISTRIBUTED ONLY TO KEY EMPLOYEES, DIRECTORS, AND OFFICERS OF THE UNIVERSITY TO SIGN AND RETURN. FORM 990, PART XI, LINE 9: MISC. -2. PROVISION FOR LAND HELD FOR SALE -700,000. FORM 990, PART XII, LINE 2C: THE FINANCIAL STATEMENTS AND TAX RETURN ARE INDEPENDENTLY REVIEWED BY THE CONTROLLER, THE VICE PRESIDENT FOR FINANCE, AND THE SENIOR VICE PRESIDENT FOR FINANCE AND ADMINISTRATION. COPIES ARE THEN PROVIDED TO THE PRESIDENT AND MEMBERS OF THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES AND THE CORPORATE SECRETARY FOR THEIR REVIEW AND COMMENT PRIOR TO COMPLETION AND FILING.