2015-05-14T10:43:52-05:00 2014-06-30 410746749 CLIFTONLARSONALLEN LLP 610 W GERMANTOWN PIKE STE 400 PLYMOUTH MEETING PA 19462 990 2013-07-01 231386178 WIDENER UNIVERSITY WIDE 6104994396 ONE UNIVERSITY PLACE CHESTER PA 19013 JOSEPH J BAKER SRVP FINANCE & ADMINSTRATION 6104994396 2015-05-11 1 KAREN GRIES P00078514 2156433900 2013 2016-03-07 17:11:31Z JOSEPH J BAKER ONE UNIVERSITY PLACE CHESTER PA 19013 229932975 0 X WWW.WIDENER.EDU X 1821 PA SEE SCHEDULE O FOR COMPLETE MISSION STATEMENT.AS A LEADING METROPOLITAN UNIVERSITY, WE ACHIEVE OUR MISSION AT WIDENER UNIVERSITY BY CREATING A LEARNING ENVIRONMENT WHERE CURRICULA ARE CONNECTED TO SOCIETAL ISSUES THROUGH CIVIC ENGAGEMENT. WE LEAD BY PROVIDING A UNIQUE COMBINATION OF LIBERAL ARTS AND PROFESSIONAL EDUCATION IN A CHALLENGING, SCHOLARLY, AND CULTURALLY DIVERSE ACADEMIC COMMUNITY. WE ENGAGE OUR STUDENTS THROUGH DYNAMIC TEACHING, ACTIVE SCHOLARSHIP, PERSONAL ATTENTION, AND EXPERIENTAL LEARNING. WE INSPIRE OUR STUDENTS TO BE CITIZENS OF CHARACTER WHO DEMONSTRATE PROFESSIONAL AND CIVIC LEADERSHIP. WE CONTRIBUTE TO THE VITALITY AND WELL-BEING OF THE COMMUNITIES WE SERVE. 27 26 3149 50 -10560 -18775 8656584 12055811 191928909 196202814 -565749 1413581 2178845 1791510 202198589 211463716 50213428 55653932 0 0 111132130 97029676 0 0 4198081 50392892 54941182 211738450 207624790 -9539861 3838926 339224947 361946091 164009869 168893860 175215078 193052231 X SEE SCHEDULE O FOR COMPLETE MISSION STATEMENT. 0 0 127109248 55653932 174265276 INSTRUCTIONAL/GRANTS - EXPENSES INCURRED WITH THE ACADEMIC INSTRUCTION OF OUR STUDENT BODY AS WELL AS GRANTS TO STUDENTS. THE UNIVERSITY COMPRISES EIGHT SCHOOLS AND COLLEGES THAT OFFER LIBERAL ARTS AND SCIENCES, PROFESSIONAL, AND PREPROFESSIONAL CURRICULA. A METROPOLITAN TEACHING INSTITUTION, THE UNIVERSITY IS A FOUR CAMPUS UNIVERSITY OFFERING 147 PROGRAMS OF STUDY LEADING TO ONE OF 62 ASSOCIATE, BACHELORS, MASTERS, OR DOCTORAL DEGREES. IN THE FALL SEMESTER OF 2013, THE UNIVERSITY HAD ENROLLED A TOTAL OF 6,311 STUDENTS COMPRISED OF 3,534 UNDERGRADUATE, 1,694 GRADUATE, AND 1,083 SCHOOL OF LAW STUDENTS. 16253498 0 367551 ACADEMIC SUPPORT - EXPENSES INCURRED TO SUPPORT THE LIBRARY AND ACADEMIC ADMINISTRATION, INCLUDING PROVOST, DEANS, AND FACULTY DEVELOPMENT. 15906505 0 751576 STUDENT SERVICES - EXPENSES INCURRED FOR PROGRAMS THAT SERVICE WIDENER'S STUDENT BODY, SUCH AS ATHLETICS, STUDENT ORGANIZATIONS, CAREER PLACEMENT, STUDENT HEALTH, AND STUDENT COUNSELING. IN ADDITION, THIS INCLUDES DEPARTMENTS THAT SUPPORT STUDENT ADMISSIONS, FINANCIAL AID, THE BURSAR, AND REGISTRAR. 20808578 20574031 AUXILIARY SERVICES - EXPENSES INCURRED PRIMARILY FOR HOUSING AND FEEDING ON AVERAGE OF 1,600 STUDENTS PER SEMESTER, AS WELL AS OPERATING THE CAMPUS BOOKSTORE. 20808578 20574031 180077829 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 1 1 1 0 0 1 275 0 3149 1 1 1 0 0 0 0 1 1 0 0 0 0 X 27 26 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X X JOSEPH J BAKER 6104994156 ONE UNIVERSITY PLACE CHESTER PA 19013 JAMES T HARRIS PRESIDENT 60.00 0.30 X X 454678 0 252683 NICHOLAS TRAINOR CHAIRMAN OF THE BOARD 2.00 0.00 X X 0 0 0 JOHN H TILELLI JR VICE CHAIR OF THE BOARD 2.00 0.00 X X 0 0 0 PAUL BEIDEMAN TREASURER OF THE BOARD 2.00 0.00 X X 0 0 0 EUGENE MCGURK JR SECRETARY OF THE BOARD 2.00 0.00 X X 0 0 0 DANIEL BORISLOW TRUSTEE 2.00 0.00 X 0 0 0 THOMAS BOWN II TRUSTEE 2.00 0.00 X 0 0 0 ANTHONY BRITTON JR TRUSTEE 2.00 0.00 X 0 0 0 LESLIE A BRUN TRUSTEE 2.00 0.00 X 0 0 0 LEANNE CARET TRUSTEE 2.00 0.00 X 0 0 0 BARBARA CHAMBERLAIN TRUSTEE 2.00 0.00 X 0 0 0 CHRISTINA DELVA TRUSTEE 2.00 0.00 X 0 0 0 JEFFERY FLYNN TRUSTEE 2.00 0.00 X 0 0 0 JAMES HARGADON TRUSTEE 2.00 0.00 X 0 0 0 IRA HARKAVY TRUSTEE 2.00 0.00 X 0 0 0 DANIEL HARTNEY TRUSTEE 2.00 0.00 X 0 0 0 JAMES HIRSCHMANN III TRUSTEE 2.00 0.00 X 0 0 0 JAMES MACK III TRUSTEE 2.00 0.00 X 0 0 0 KATHLEEN MCNICHOLAS TRUSTEE 2.00 0.00 X 0 0 0 DAVID OSKIN HONORARY CHAIR 2.00 0.00 X 0 0 0 THOMAS SAGER TRUSTEE 2.00 0.00 X 0 0 0 CYNTHIA SARNOSKI TRUSTEE 2.00 0.00 X 0 0 0 JOHN SCHMUTZ TRUSTEE 2.00 0.00 X 0 0 0 RONALD STEAD TRUSTEE 2.00 0.00 X 0 0 0 MIN SUH ESQ TRUSTEE 2.00 0.00 X 0 0 0 VITO VERNI TRUSTEE 2.00 0.00 X 0 0 0 RICHARD TAN TRUSTEE 2.00 0.00 X 0 0 0 BRIAN TIERNEY TRUSTEE 2.00 0.00 X 0 0 0 SOPHIA WISNIESKA TRUSTEE 2.00 0.00 X 0 0 0 STEPHEN WYNNE TRUSTEE 2.00 0.00 X 0 0 0 PETER ZACHARKIW TRUSTEE 2.00 0.00 X 0 0 0 JOSEPH J BAKER SR VP FINANCE & ADMIN 60.00 1.30 X 303713 0 81947 STEVE WILHITE SR VP PROVOST 60.00 0.00 X 291633 0 78995 LINDA S DURANT SR VP ADVANCEMENT 60.00 0.00 X 257670 0 64991 LINDA L AMMONS DEAN SCHOOL OF LAW 60.00 0.00 X 347074 0 34899 J PATRICK KELLY PROFESSOR OF LAW 40.00 0.00 X 305969 0 35606 MICHAEL COZZILLIO PROFESSOR OF LAW 40.00 0.00 X 274945 0 37438 JOHN L GEDID PROFESSOR OF LAW 40.00 0.00 X 272671 0 35913 ROBERT L HAYMAN PROFESSOR OF LAW 40.00 0.00 X 241590 0 27684 JOHN F NIVALA PROFESSOR OF LAW 40.00 0.00 X 233249 0 31824 2983192 0 681980 147 0 1 0 HSC BUILDERS & CONSTRUCTION 304 NEW MILL LANE EXTON PA 19341 CONSTRUCTION 10232310 ARAMARK SERVICES INC ONE UNIVERSITY PLACE CHESTER PA 19013 FOOD SERVICE 6497055 ARAMARK FACILITY SERVICES ONE UNIVERSITY PLACE CHESTER PA 19013 HOUSEKEEPING 1816102 TARGET BUILDING CONSTRUCTION 1124 CHESTER AVENUE CRUM LYNNE PA 19022 CONSTRUCTION 1741080 HARMELIN MEDIA 525 RIGHTERS FERRY ROAD BALA CYNWYD PA 19004 ADVERTISING 1222933 29 90451 6179452 5785908 13781 12055811 TUITION/ FEES 611600 174061688 174061688 AUXILIARY ENTERPRISES 721310 20552048 20552048 FEES, PARKING, ETC 900099 1205885 1205885 INTEREST FEES ON LOANS 900099 244380 244380 FEES/CONTRACTS GOVERNMENT AGENCIE 900099 138813 138813 196202814 4668487 -11280 4679767 847113 162009 685104 685104 685104 14921144 18176050 -3254906 -3254906 -3254906 76923 90451 131200 -54277 -54277 MISCELLANEOUS 525990 1159963 1159963 WELLNESS CENTER 713940 720 720 1160683 211463716 195958434 -10560 3460031 55653932 55653932 2089239 2089239 68444992 60571776 5775501 2097715 5382797 4742964 475575 164258 16411353 14513110 1395627 502616 4701295 4116091 442656 142548 653392 653392 70695 70695 130880 130880 12931122 9668057 2692515 570550 2413261 424811 1748758 239692 1953104 1506881 322431 123792 3328161 902493 2412079 13589 5425735 4472218 943708 9809 1898853 1712231 145570 41052 371355 259912 92717 18726 3935423 3935423 10874081 10874081 932484 932484 LIBRARY BOOKS & PERIODI 2435721 2435721 LOSS ON EXTINGUISHMENT 1893161 1893161 STUDENT, FACULTY & ALUM 1446560 1303631 87634 55295 FEES AND DUES 758490 525940 219589 12961 3488704 1526073 1757153 205478 207624790 180077829 23348880 4198081 28385984 33044085 9503930 12417202 2911815 1680594 13694609 13311750 2700348 2053691 357147963 163374190 192876278 193773773 82148198 96832021 5719072 8061680 1284713 771295 339224947 361946091 20815447 9858579 7301160 7142738 6215317 6131280 77431995 86227995 132162 108154 52113788 59425114 164009869 168893860 X 122046315 132754574 15050292 20785574 38118471 39512083 175215078 193052231 339224947 361946091 X 3838926 11768767 2229460 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X COMMUNITY ENRICHMENT 0 0 80790245 1255863 12738137 985516 3586605 90212124 72815005 3197551 9003383 758226 3467468 80790245 78927608 1076830 -3085387 799024 3305022 72815005 61283688 9461518 12047684 741734 3123548 78927608 58431578 950699 6097318 790314 3405593 61283688 0.49000 0.51000 0.00000 0 0 15182325 15182325 283173570 111948805 171224765 52046409 46345013 5701396 6745659 5080372 1665287 193773773 ACCRUED POST RETIREMENT BENEFITS 48566238 ASSET RETIREMENT OBLIGATION 3592652 OBLIGATIONS UNDER CAPITAL LEASE 916102 INTEREST RATE SWAP LIABILITY 6350122 59425114 X 167694509 11768767 246838 12015605 155678904 130880 55653932 55784812 211463716 152086816 246838 246838 151839978 130880 55653932 55784812 207624790 PART III, LINE 1A: THE UNIVERSITY HAS ELECTED PURSUANT TO GENERALLY ACCEPTED ACCOUNTING STANDARDS NOT TO REPORT IN ITS REVENUE STATEMENT AND BALANCE SHEET WORKS OF ART. THE FOOTNOTE READS "THE UNIVERSITY HOUSES A COLLECTION OF AMERICAN PAINTINGS AND THE ALFRED O. DESHONG COLLECTION OF EUROPEAN PAINTINGS AND ORIENTAL ART OBJECTS AT THE WIDENER UNIVERSITY ART COLLECTION AND GALLERY THAT IT DOES NOT CAPITALIZE. THESE COLLECTIONS ADHERE TO THE UNIVERSITY'S POLICY TO (A) MAINTAIN THEM FOR PUBLIC EXHIBITION, EDUCATION, OR RESEARCH; AND (B) PROTECT, KEEP UNENCUMBERED, CARE FOR, AND PRESERVE THEM." PART III, LINE 4: LOCATED IN THE UNIVERSITY CENTER, THE WIDENER UNIVERSITY ART COLLECTION AND GALLERY HOUSES THE UNIVERSITY'S DIVERSE COLLECTION OF AMERICAN PAINTINGS AND ALFRED O. DESHONG COLLECTION OF EUROPEAN PAINTINGS AND ORIENTAL ART OBJECTS. IN ADDITION TO THE PERMANENT COLLECTION ON DISPLAY, ROTATING EXHIBITIONS OF CONTEMPORARY ART ARE HELD THROUGHOUT THE YEAR ALONG WITH RECEPTIONS TO MEET THE ARTISTS. THE ART MUSEUM PROVIDES NUMEROUS EDUCATIONAL OPPORTUNITIES TO OUR STUDENTS THROUGH ITS EXISTING COLLECTION AND DIVERSE ROTATING EXHIBITS AND SPECIAL SHOWINGS. IT ALSO PROVIDES CULTURAL ENRICHMENT TO THE FACULTY, STAFF AND SURROUNDING COMMUNITIES AS THE MUSEUM IS FREE AND OPEN TO THE PUBLIC. PART V, LINE 4: ENDOWMENT FUNDING SUPPORTS SCHOLARSHIPS, FACULTY DEVELOPMENT, CHAIRS, AWARDS, THE LIBRARY, AS WELL AS OTHER INITIATIVES. PART X, LINE 2: THE UNIVERSITY HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS A TAX-EXEMPT ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. AS SUCH, IT IS SUBJECT TO TAX ONLY ON INCOME FROM ACTIVITIES UNRELATED TO ITS TAX-EXEMPT MISSION. FOR THE YEARS ENDED JUNE 30, 2014 AND 2013, THE UNIVERSITY GENERATED NO SIGNIFICANT UNRELATED BUSINESS INCOME SUBJECT TO TAX, AND NO PROVISION FOR INCOME TAXES WAS PROVIDED. THE UNIVERSITY BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. THE UNIVERSITY'S FEDERAL AND STATE RETURNS FOR THE YEARS ENDED JUNE 30, 2011, 2012 AND 2013 ARE OPEN FOR REVIEW BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 162,009. NET SPECIAL FUNDRAISING EXPENSE 84,829. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 55,653,932. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 162,009. NET SPECIAL FUNDRAISING EXPENSE 84,829. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 55,653,932. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 OUR POLICY IS PUBLISHED IN ALL CATALOGS, PRINTED MATERIALS AND RADIO ADVERTISEMENTS. SCHEDULE E, PART I, LINE 6 IN THE NORMAL COURSE OF BUSINESS, THE UNIVERSITY ROUTINELY RECEIVES FUNDING FROM FEDERAL, STATE, AND LOCAL GOVERNMENTS FOR STUDENT FINANCIAL AID. EUROPE 0 0 PROGRAM SERVICES LAW SCHOOL SUMMER PROGRAM 65528 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES UNDERGRADUATE SUMMER PROGRAM 34396 EUROPE 0 0 PROGRAM SERVICES SHSP INTERNATIONAL TRIP 100970 EUROPE 0 0 PROGRAM SERVICES CEICS INTERNATIONAL TRIP 48164 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES CAS INTERNATIONAL TRIP 5130 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES LAW SCHOOL SUMMER PROGRAM 42757 0 0 0 0 0 0 296945 0 296945 1 0 0 0 0 0 PART I, LINE 3: THE UNIVERSITY USES THE ACCRUAL METHOD OF ACCOUNTING TO REPORT EXPENDITURES OUTSIDE THE U.S. GOLF OUTING 83888 53336 30552 1921 21995 6637 LAW NIGHT 46721 28615 18106 12852 5962 3 36765 8500 28265 30 9569 72234 167374 90451 76923 30 1921 44416 84833 131200 -54277 1 STUDENT FINANCIAL AID/GRANTS/AWARDS 3320 55653932 FMV PART I, LINE 2: SCHOLARSHIPS AND GRANTS FOR STUDENTS ARE APPLIED DIRECTLY TO A STUDENT'S UNIVERSITY ACCOUNT AND APPLIED TO TUITION, FEES, ROOM AND BOARD. ALL FINANCIAL AID IS SUBJECT TO REVISION BASED ON AVAILABILITY, CHANGES IN FAMILY CONTRIBUTION, HOUSING STATUS, AND/OR CREDIT LOAD. SATISFACTORY ACADEMIC PROGRESS MUST BE MAINTAINED ACCORDING TO STANDARDS PRESCRIBED BY THE UNIVERSITY. ANNUAL RENEWAL OF FINANCIAL AID IS CONTINUOUS IF INSTITUTIONAL FINANCIAL NEED REMAINS, ALL REQUIRED DOCUMENTS ARE COMPLETED BY THE PUBLISHED DEADLINE AND SATISFACTORY ACADEMIC PROGRESS IS MAINTAINED CONSISTENT WITH THE UNIVERSITY'S POLICY. X X X X X 1 1 X X X 0 1 0 0 0 0 0 0 0 JAMES T HARRIS PRESIDENT 395884 0 0 0 58794 0 175500 0 77183 0 707361 0 0 0 JOSEPH J BAKER SR VP FINANCE & ADMIN 267541 0 0 0 36172 0 63440 0 18507 0 385660 0 0 0 STEVE WILHITE SR VP PROVOST 260240 0 0 0 31393 0 25500 0 53495 0 370628 0 0 0 LINDA S DURANT SR VP ADVANCEMENT 217906 0 0 0 39764 0 57240 0 7751 0 322661 0 0 0 LINDA L AMMONS DEAN SCHOOL OF LAW 267128 0 40000 0 39946 0 25500 0 9399 0 381973 0 0 0 J PATRICK KELLY PROFESSOR OF LAW 282093 0 0 0 23876 0 28744 0 6862 0 341575 0 0 0 MICHAEL COZZILLIO PROFESSOR OF LAW 251183 0 0 0 23762 0 23978 0 13460 0 312383 0 0 0 JOHN L GEDID PROFESSOR OF LAW 249362 0 0 0 23309 0 28578 0 7335 0 308584 0 0 0 ROBERT L HAYMAN PROFESSOR OF LAW 218332 0 0 0 23258 0 23303 0 4381 0 269274 0 0 0 JOHN F NIVALA PROFESSOR OF LAW 209883 0 0 0 23366 0 22308 0 9516 0 265073 0 0 0 PART I, LINE 1A FIRST-CLASS OR CHARTER TRAVEL: THE UNIVERSITY MAINTAINS A WRITTEN ACCOUNTABLE POLICY REGARDING THE PAYMENT OR REIMBURSEMENT OF TRAVEL AND ENTERTAINMENT EXPENSES, INCLUDING AIRLINE AND RAIL TRAVEL, COMPANION TRAVEL, INTERNATIONAL TRAVEL, SOCIAL AND HEALTH CLUBS, MAID SERVICE, AND BUSINESS MEALS, MEETINGS AND ENTERTAINMENT. THE UNIVERSITY'S PRESIDENT REVIEWS AND APPROVES THE TRAVEL AND ENTERTAINMENT EXPENSES FOR ALL UNIVERSITY VICE PRESIDENTS. THE UNIVERSITY'S VICE PRESIDENTS REVIEW AND APPROVE THE TRAVEL AND ENTERTAINMENT EXPENSES FOR THEIR RESPECTIVE STAFF. IT IS IMPORTANT TO NOTE THE PRESIDENT'S TRAVEL AND ENTERTAINMENT EXPENSES ARE REVIEWED AND APPROVED BY THE UNIVERSITY'S BOARD CHAIR. HOUSING ALLOWANCE OR RESIDENT FOR PERSONAL USE: THE PRESIDENT OF THE UNIVERSITY IS PROVIDED HOUSING AS REQUIRED AS PART OF HIS EMPLOYMENT. THE USE OF THE HOUSE IS EXCLUDED FROM INCOME PURSUANT TO INTERNAL REVENUE CODE SECTION 119 (A)(2). THE FAIR RENTAL VALUE OF THE HOUSING IS $35,000. BUSINESS EXPENSES ARE COVERED UNDER THE UNIVERSITY'S TRAVEL AND ENTERTAINMENT POLICY. PERSONAL SERVICES: OFFICERS AND KEY EMPLOYEES MAY USE A CAR SERVICE FOR EXTENDED TRAVEL IN ORDER TO CONDUCT UNIVERSITY BUSINESS. PART I, LINE 4B THE BOARD OF TRUSTEES HAS APPROVED A SUPPLEMENTAL RETIREMENT PLAN FOR THE PRESIDENT. THE UNIVERSITY IS ACCRUING A CONTRIBUTION OF $100,000 ANNUALLY FROM 2013 THROUGH 2017 WHICH WILL BE REPORTED ON SCHEDULE J FOR EACH OF THE APPLICABLE YEARS. THE PRESIDENT WILL VEST IN THE PLAN AND RECEIVE PAYMENT IN JUNE 2017. A PHEFA REVENUE BONDS SERIES 2005 232243852 70917NZ56 2005-02-01 34239090 DORMITORY & PHYSICAL EDUCATION 0 0 0 B PHEFA REVENUE BONDS SERIES 2013 232243852 70917SHA4 2013-08-01 11555277 DORMITORY 0 0 0 C PHEFA REVENUE BONDS SERIES 2013A 232243852 70917SHW6 2013-11-01 57258483 REFINANCING 0 0 0 A 12865000 34239090 3346310 227750 30449130 0 0 1 1 B 11555277 246668 10000318 0 0 0 1 C 57258483 1308291 56914015 344468 1 0 1 1 A 0 0 0 0 0.00350 0.00000 0.00350 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 0 0 0 0 0 B 0 0 1 0 0 0 0 0 0 C 0 0 1 0 0 0 0 0 0 A 1 B 1 C 1 OFFICERS OFFICERS 62919 DISCOUNTED TUITION BRIAN COMMUNICATIONS BRIAN TIERNEY, A WIDENER UNIVERSITY TRUSTEE, OWNS BRIAN COMMUNICATIONS. 567537 ADVERTISING CONTRACT 0 MARY HARRIS MARY HARRIS, WIFE OF PRESIDENT HARRIS 41000 HOSTING EVENTS & CONSTITUENCIES 0 FORM 990, PART VI, SECTION A, LINE 1 AN EXECUTIVE COMMITTEE, WHICH MAY BE CONVENED AT ANY TIME AT THE CALL OF ITS CHAIRMAN, SHALL HAVE AND EXERCISE AUTHORITY OF THE BOARD IN THE MANAGEMENT OF ITS AFFAIRS, TO THE EXTENT PERMITTED BY THE DELAWARE CORPORATION LAW AND THE PENNSYLVANIA CORPORATION NOT-FOR-PROFIT CODE, EXCEPT THAT THE EXECUTIVE COMMITTEE SHALL NOT HAVE AUTHORITY TO: * FILL VACANCIES IN THE BOARD OF TRUSTEES; * ADOPT, AMEND OR REPEAL THE BYLAWS; * AMEND OR REPEAL ANY RESOLUTION OF THE BOARD; * TAKE ANY ACTION ON MATTERS COMMITTED BY THE BYLAWS OR RESOLUTION OF THE BOARD OF TRUSTEES TO ANOTHER COMMITTEE OF THE BOARD; * AMEND THE CERTIFICATE OF INCORPORATION; * ADOPT AN AGREEMENT OF MERGER OR CONSOLIDATION; * RECOMMEND THE SALE, LEASE, OR EXCHANGE OF ALL OR SUBSTANTIALLY ALL OF THE CORPORATION'S PROPERTY; * RECOMMEND A DISSOLUTION OF THE CORPORATION; OR * REVOKE A DISSOLUTION OF THE CORPORATION. THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE CHAIR, VICE CHAIRS, TREASURER, SECRETARY, PRESIDENT OF THE UNIVERSITY, AND THE PAST CHAIR. UPON INVITATION OF THE CHAIR, ANY MEMBER OF THE BOARD MAY ATTEND AND VOTE AT AN EXECUTIVE COMMITTEE MEETING. FORM 990, PART VI, SECTION A, LINE 2 DAVID OSKIN AND RICHARD TAN - BUSINESS RELATIONSHIP FORM 990, PART VI, SECTION B, LINE 11 ONCE A DRAFT OF THE IRS FORM 990 IS COMPLETED AND REVIEWED BY OUR INDEPENDENT TAX ADVISORS, IT IS REVIEWED BY BOTH THE AUDIT COMMITTEE AND THE FINANCE AND ADMINISTRATION COMMITTEE OF THE BOARD OF TRUSTEES. IT IS THEN REVIEWED WITH THE FULL BOARD OF TRUSTEES AT ITS NEXT MEETING (NORMALLY THE FEBRUARY MEETING). THE FORM 990 IS NOT FILED UNTIL THE FULL BOARD OF TRUSTEES HAS REVIEWED IT WITH MANAGEMENT. FORM 990, PART VI, SECTION B, LINE 12C THE UNIVERSITY HAS CONFLICT OF INTEREST POLICIES FOR THE BOARD OF TRUSTEES, OFFICERS, KEY EMPLOYEES, FULL-TIME STAFF, AND PART-TIME STAFF INVOLVED IN PURCHASING. THE BOARD OF TRUSTEES COMPLETE THE CONFLICT OF INTEREST DISCLOSURE FORM ON AN ANNUAL BASIS, AND THE DISCLOSURE FORMS ARE RECEIVED AND REVIEWED BY THE TRUSTEESHIP COMMITTEE WHO FORWARD ANY CONFLICTS ON TO THE EXECUTIVE COMMITTEE OF THE BOARD FOR THEIR REVIEW. BOARD OF TRUSTEES MEMBERS WITH CONFLICTS ARE EXPECTED TO ABSTAIN FROM VOTING ON ISSUES FOR THEIR CONFLICT. THE PROCESS, REVIEW, AND REPORTING FOR THE OFFICERS AND KEY EMPLOYEES IS THE SAME AS THE BOARD OF TRUSTEES. ALL FULL-TIME STAFF AND PART-TIME STAFF INVOLVED IN PURCHASING COMPLETE A DISCLOSURE FORM ANNUALLY, AND THESE ARE COLLECTED AND REVIEWED BY THE EXECUTIVE DIRECTOR OF HUMAN RESOURCES. THIS INDIVIDUAL THEN REPORTS THE FINDINGS TO THE SENIOR VICE PRESIDENT-ADMINISTRATION & FINANCE AND THE PRESIDENT OF THE UNIVERSITY. A REPORT IS THEN MADE BY THE SENIOR VICE PRESIDENT-ADMINISTRATION & FINANCE TO THE FINANCE AND ADMINISTRATION COMMITTEE OF THE BOARD, WHICH THEN REPORTS THE FINDINGS TO THE FULL BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15 IT IS THE POLICY OF WIDENER UNIVERSITY AND ITS BOARD OF TRUSTEES (BOARD) TO COMPENSATE ITS EXECUTIVES IN ACCORDANCE WITH THE MARKET AND IN RELATION TO EXPERIENCE, SERVICE AND ACCOMPLISHMENT BOTH PRIOR TO, AND DURING, THEIR SERVICE TO THE UNIVERSITY. WHILE THE UNIVERSITY DOES NOT HAVE A FORMAL COMPENSATION COMMITTEE, MEMBERS OF THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES ACT IN THIS CAPACITY AND THEN PRESENT THE COMPENSATION DATA OF ALL DISQUALIFIED PERSONS TO THE BOARD OF TRUSTEES. THE BOARD'S USE OF CUPA AND SIMILIAR INDICES IS FOR GUIDANCE PURPOSES, TAKING INTO CONSIDERATION THAT THE POSITIONS REPORTED THEREIN ARE NOT, IN MANY INSTANCES, EQUIVALENT TO THE EXECUTIVE POSITIONS AT THE UNIVERSITY. THUS, WHEN AN INDIVIDUAL EXECUTIVE ACQUIRES ADDITIONAL RESPONSIBILITIES ABOVE AND BEYOND THOSE TRADITIONALLY ASSOCIATED WITH THE GENERAL CATEGORY SET FORTH IN THE COMPARATIVE INDICIES, THE BOARD MAY CONSIDER AND AWARD APPROPRIATE COMPENSATION. EXCEPTIONS TO THIS POLICY CAN OCCUR WHERE SPECIAL EXPERTISE, ACCOMPLISHMENT OR EXPERIENCES ARE REQUIRED IN A PARTICULAR POSITION OR AN URGENT NEED HAS ARISEN JUSTIFYING, IN THE BOARD'S ANALYSIS, COMPENSATION AT A LEVEL IN EXCESS OF THE POLICY RANGE ADOPTED BY THE BOARD. WHEN SUCH EXCEPTIONS ARISE, THE BOARD SHALL SET FORTH A STATEMENT OF THEIR REASONING SUPPORTING THE DEPARTURE FROM THE ESTABLISHED EXECUTIVE COMPENSATION POLICY. FINALLY, THE BOARD, IN EVERY THIRD YEAR, WILL ENGAGE AN OUTSIDE CONSULTANT TO VERIFY THAT TOTAL COMPENSATION PAID TO THE EXECUTIVES OF THE UNIVERSITY IS FAIR AND REASONABLE. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY MAKES AVAILABLE TO THE PUBLIC ON ITS WEBSITE THE UNIVERSITY'S ARTICLES OF INCORPORATION, THE CONFLICT OF INTEREST POLICY, THE EXECUTIVE COMPENSATION POLICY, THE FORM 990, THE FORM 990-T AND THE UNIVERSITY'S AUDITED FINANCIAL STATEMENTS. FORM 990, PART XI, LINE 9: CHANGE IN PENSION 2,229,460. FORM 990, SCHEDULE K, PART I: PHEFA REVENUE BOND, SERIES OF 2005 THE BOND WAS ORIGINALLY ISSUED IN 2005 WITH STAGGERING MATURITY DATES FROM 2007-2039. EACH MATURITY DATE HAS BEEN ASSIGNED A UNIQUE CUSIP NUMBER. FORM 990, SCHEDULE K, PART I: PHEFA REVENUE BOND, SERIES OF 2013 THE BOND WAS ORIGINALLY ISSUED IN 2013 WITH STAGGERING MATURITY DATES FROM 2035-2043. EACH MATURITY DATE HAS BEEN ASSIGNED A UNIQUE CUSIP NUMBER. FORM 990, SCHEDULE K, PART I: PHEFA REVENUE BOND, SERIES OF 2013A THE BOND WAS ORIGINALLY ISSUED IN 2013 WITH STAGGERING MATURITY DATES FROM 2015-2038. EACH MATURITY DATE HAS BEEN ASSIGNED A UNIQUE CUSIP NUMBER. THE NEUROPSYCHOLOGY ASSESSMENT CENTER ONE UNIVERSITY PLACE CHESTER PA 19013 421682886 EDUCATION PA 501(C)(3) LINE 9 WIDENER UNIVERSITY 1 THE WIDENER PARTNERSHIP CHARTER SCHOOL ONE UNIVERSITY PLACE CHESTER PA 19013 421705892 SCHOOL PA 501(C)(3) LINE 2 WIDENER UNIVERSITY 1 PROVIDENCE ENTERPRISES INC ONE UNIVERSITY PLACE CHESTER PA 19013 510260604 INACTIVE PA WIDENER UNIVERSITY C 1.00000 1 ACNP CORPORATION ONE UNIVERSITY PLACE CHESTER PA 19013 232540747 RESTAURANT PA WIDENER UNIVERSITY C 18410 15227 1.00000 1 UNIVERSITY TECHNOLOGY PARK INC 1350 EDGEMONT AVENUE SUITE 1300 CHESTER PA 19013 233045605 REAL ESTATE PA WIDENER UNIVERSITY C 8196 2976273 0.50000 0 1 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 1 0 0 THE WIDENER PARTNERSHIP CHARTER SCHOOL J 700000 CONTRACT PRICE THE WIDENER PARTNERSHIP CHARTER SCHOOL L 256687 CONTRACT PRICE THE WIDENER PARTNERSHIP CHARTER SCHOOL Q 4598313 CONTRACT PRICE THE NEUROPSYCHOLOGY ASSESSMENT CENTER L 10715 CONTRACT PRICE THE NEUROPSYCHOLOGY ASSESSMENT CENTER Q 217253 CONTRACT PRICE THE WIDENER PARTNERSHIP CHARTER SCHOOL A 700000 CONTRACT PRICE SCHEDULE R, PART V, LINE 1N THE UNIVERSITY SHARES ITS FACILITIES WITH NEUROPSYCHOLOGY ASSESSMENT CENTER AT WIDENER UNIVERSITY.