2014-04-07T09:36:48-05:00 2013-06-30 GRANT THORNTON LLP 2001 MARKET STREET SUITE 700 PHILADELPHIA PA 19103 990 2012-07-01 231352668 University of the Sciences in Philadelphia % BRIGID K ISACKMAN UNIV 2155968862 600 South 43rd Street Suite Philadelphia PA 191044495 John Vitali 2155968701 2014-04-04 true Frank Giardini 2155614200 2012 2015-11-30 17:44:51Z Helen Giles-Gee 600 South 43rd Street Philadelphia PA 191044495 138751211 false X www.Usciences.edu X 1821 PA THE PROVISION OF EDUCATION IN HEALTH & NATURAL SCIENCES 19 19 1923 205 149689 7391410 7868113 103815146 105934256 10137096 13533159 501818 402670 121845470 127738198 27093543 29505847 0 0 51274369 54483670 0 0 2134951 36350230 34357552 114718142 118347069 7127328 9391129 309943040 357191213 129911616 163057204 180031424 194134009 X THE MISSION OF UNIVERSITY OF THE SCIENCES IN PHILADELPHIA IS TO EDUCATE STUDENTS TO BECOME LEADERS AND INNOVATORS IN THE SCIENCES, THE HEALTH PROFESSIONS, AND EMERGING RELATED DISCIPLINES. BUILDING ON OUR LEGACY AS THE NATION'S FIRST COLLEGE OF PHARMACY, WE PROVIDE EXCELLENCE IN TEACHING, RESEARCH, AND SERVICE. WE ACCOMPLISH OUR MISSION BY ACHIEVING THE FOLLOWING OBJECTIVES: OUR GRADUATES WILL HAVE THE KNOWLEDGE, SKILLS, AND VALUES TO BE SUCCESSFUL IN THEIR PROFESSIONAL CAREERS. THROUGH ACADEMIC AND PERSONAL DEVELOPMENT, OUR GRADUATES WILL GAIN THE INTELLECTUAL, CULTURAL AND ETHICAL UNDERSTANDING AND AWARENESS NEEDED TO BECOME LEADERS AND INNOVATORS IN A GLOBAL SOCIETY. OUR STUDENTS WILL EMBRACE THE VALUE OF SERVICE. THE UNIVERSITY WILL PROMOTE THE ADVANCEMENT AND DISSEMINATION OF KNOWLEDGE THROUGH TEACHING, RESEARCH, AND SCHOLARLY ACTIVITY. THE UNIVERSITY WILL PROVIDE A STUDENT-CENTERED LEARNING AND LIVING ENVIRONMENT. THE UNIVERSITY WILL FOSTER AND CULTIVATE AN ENVIRONMENT OF RESPECT false false 37648117 97070717 EDUCATION RELATED EXPENSES FOR STUDENTS IN VARIOUS DEGREE SEEKING FIELDS OF STUDY. 15867299 EXPENSES RELATED TO DEAN OF STUDENTS, ADMISSIONS, REGISTRAR, COUNSELING, FINANCIAL AID, CLINIC, STUDENT ACTIVITIES AND ATHLETICS. 9133908 8863539 EXPENSES RELATED TO LIBRARY, WRITING CENTER, TEACHING/LEARNING CENTER, ACADEMIC COMPUTER CENTER, ANCILLARY OPERATIONS, DEANS OF PHILADELPHIA COLLEGE OF PHARMACY, MISHER COLLEGE OF ARTS & SCIENCES, SAMSON COLLEGE OF HEALTH SCIENCES, MAYES COLLEGE OF HEALTHCARE BUSINESS AND POLICY AND COLLEGE OF GRADUATE STUDIES. 29505847 29505847 SCHOLARSHIPS 4348226 RESEARCH 6934366 OTHER 40788439 29505847 103437763 true true false true false false false false true true true false true true true true false true false true false false false true false false false true true true false false false false false false false false false false true false false false true false 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J Digate 40.0 X 347370 0 17133 William L Ashton 40.0 X 305929 0 105878 Peter Miller 40.0 X 202571 0 35119 CARRIE COLLINS 40.0 X 153618 0 20679 William Cunningham 40.0 X 133765 0 29014 John Masciantonio 40.0 X 134386 0 25820 Suzanne Murphy 40.0 X 176824 0 29204 Cathy Poon 40.0 X 176589 0 20740 Rodney Wigent 40.0 X 144308 0 27347 Barbara Elliott 40.0 X 159475 0 24468 ANTHONY ACQUAVELLA 40.0 X 148894 0 17059 PETER BERGET 40.0 X 149596 31311 AMALIA ISSA 40.0 X 154514 0 24271 DAVID LEONARD 40.0 X 162275 0 24018 MARK NESTOR 40.0 X 149741 0 30238 Shawn Curtin 40.0 X 188237 0 19303 Lisa Lawson Gibson 40.0 X 241699 0 52035 Andrew Peterson 40.0 X 190622 0 21644 Laurie Sherwen 40.0 X 193231 0 25220 Bruce Canaday 40.0 X 193535 0 40695 Sara Campbell 40.0 X 102759 0 11377 Philip Gerbino 40.0 X 363017 0 10381 4702912 0 771124 93 true true false SODEXO INC 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20878 FOOD SERVICE 3058623 Neighborhood Preservation 400 SOUTH 48TH PHILADELPHIA PA 19143 Real Estate 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RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 60480 60480 false SCHEDULE C, PART II-B, LINE 1I Payment to third party lobbying firm. 147881261 714557 15668676 882190 5417810 157964494 154151897 702612 -1044850 5928398 147881261 135178690 482407 22189145 3698345 154151897 120599475 6786362 10115468 2322615 135178690 145712639 8994133 -30322191 3750250 34856 120599475 0.67000 0.27000 0.06000 true false 8517744 8517744 155453588 66309418 89144170 20891786 12379426 8512360 8099936 0 8099936 114274210 BENEFICIAL INTEREST IN TRUSTS 512483 F ASSET ALLOCATION 33603463 F PRIVATE EQUITY 6618594 F HEDGE FUNDS 15760019 F INFLATION HEDGE FUNDS 5857470 F ABSOLUTE 8240618 F 70592647 BOND ISSUANCE COSTS 2892374 DEPOSITS WITH TRUSTEES 25156598 28048972 0 ANNUITY LIABILITIES 269576 OTHER LIABILITIES 170337 439913 X 103005121 11262250 -36056641 -24794391 127799512 -61314 -61314 127738198 88902536 61314 61314 88841222 29505847 29505847 118347069 SCHEDULE D, PART X The University has been recognized by the Internal Revenue Service as exempt from federal income tax under Section 501(c)(3) of the U.S. Internal Revenue Code, except for taxes on income from activities unrelated to its exempt purpose. Accordingly, the University is not subject to income taxes except to the extent it has taxable income from activities that are not related to its exempt purpose. No provisions for income taxes have been made in the accompanying financial statements for 2013. Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken by the University and recognize a tax liability (or asset) if the University has taken an uncertain tax position that more likely than not would not be sustained upon examination by the IRS. Management has analyzed the tax positions taken by the University, and has concluded that as of June 30, 2013 there are no uncertain positions taken or expected to be taken that would require recongnition of a liability (or asset) or disclosure in the financial statements. SCHEDULE D, PART XI, LINE 2D PENSION COST CHANGE......... $ (251,563) SCHOLARSHIPS.................$(29,505,847) ENDOWMENT DISTRIBUTION....... (6,300,000) Annuity Adjustment........... 769 -------------- Total.......................$ (36,056,641) SCHEDULE D, PART XI, LINE 4B Reclass of Expenses - Special Events (43,602) Reclass of Expenses - Rent (17,712) ------------ TOTAL........................ $ (61,314) SCHEDULE D, PART XII, LINE 2D Reclass of Expenses - Special Events 43,602 Reclass of Expenses - Rent 17,712 ------------ TOTAL........................ $ 61,314 SCHEDULE D, PART XII, LINE 4B SCHOLARSHIPS......... $ 29,505,847 ----------- TOTAL............... $ 29,505,847 true true true true true true true false false false false false false false false true false true Publication of Racially Nondiscriminatory Policy Schedule E, Part I, Line 3 AN AFFIRMATIVE ACTION STATEMENT IS CONTAINED IN ALL ADMISSIONS MATERIALS AND IN THE UNIVERSITY CATALOG. Government Assistance Schedule E, Part I, Line 6a THE UNIVERSITY OF THE SCIENCES IN PHILADELPHIA RECEIVED $2,317,236 IN GOVERNMENT GRANTS FOR THE YEAR ENDED JUNE 30, 2013. Europe (Including Iceland and Greenland) Program Services Relations Building 38483 North America Program Services Relations Building 23787 East Asia and the Pacific Program Services Relations Building 2169 64439 64439 true false false true false false Inauguration 64115 50515 13600 37261 2000 4341 Service Award 149000 143250 5750 0 213115 193765 19350 37261 2000 4341 43602 -24252 true INSTITUTIONAL SCHOLARSHIP AWARDED 2542 29505847 FMV FINANCIAL AID Procedure for Monitoring Use of Grant Funds Inside U.S. Schedule I, Part I, Line 2 THE UNIVERSITY GRANT POLICY IS CONTAINED IN ALL ADMISSIONS MATERIAL, IN THE UNIVERSITY CATALOG, AND CAN ALSO BE FOUND ON THE UNIVERSITY'S WEBSITE. X X true true X X X true false false false false false false false false Helen Giles-Gee 146419 0 11059 0 462 0 11000 0 6362 0 175302 0 0 0 Joseph Trainor 223078 0 244 0 4248 0 18277 0 19041 0 264888 0 0 0 Russell J Digate 345126 0 0 0 2244 0 13385 0 3748 0 364503 0 0 0 William L Ashton 301833 0 0 0 4096 0 16962 0 88916 0 411807 0 0 0 Sara Campbell 99642 0 1320 0 1797 0 8164 0 3213 0 114136 0 0 0 William Cunningham 133057 0 0 0 708 0 11016 0 17998 0 162779 0 0 0 Shawn Curtin 158185 0 29345 0 707 0 12859 0 6444 0 207540 0 0 0 Lisa Lawson Gibson 240804 0 895 0 0 0 19200 0 32835 0 293734 0 0 0 John Masciantonio 133364 0 98 0 924 0 11016 0 14804 0 160206 0 0 0 Suzanne Murphy 175388 0 728 0 708 0 14400 0 14804 0 206028 0 0 0 Andrew Peterson 185622 0 5000 0 0 0 15200 0 6444 0 212266 0 0 0 Cathy Poon 176589 0 0 0 0 0 14296 0 6444 0 197329 0 0 0 Laurie Sherwen 192523 0 0 0 708 0 15600 0 9620 0 218451 0 0 0 Rodney Wigent 143702 0 606 0 0 0 11911 0 15436 0 171655 0 0 0 Barbara Elliott 158347 0 0 0 1128 0 13056 0 11412 0 183943 0 0 0 Peter Miller 201863 0 0 0 708 0 15877 0 19242 0 237690 0 0 0 Bruce Canaday 192407 0 0 0 1128 0 16360 0 24335 0 234230 0 0 0 Philip Gerbino 361124 0 1893 0 0 0 0 0 10381 0 373398 0 0 0 CARRIE COLLINS 146291 0 3560 0 3767 0 11938 0 8741 0 174297 0 0 0 ANTHONY ACQUAVELLA 148894 0 0 0 0 0 10615 0 6444 0 165953 0 0 0 PETER BERGET 149596 0 0 12270 19041 180907 0 AMALIA ISSA 146514 0 8000 0 0 0 12270 0 12001 0 178785 0 0 0 DAVID LEONARD 162275 0 0 0 0 0 17574 0 6444 0 186293 0 0 0 MARK NESTOR 148613 0 0 0 1128 0 12240 0 17998 0 179979 0 0 0 PART I, LINE 1A 1. THE EXECUTIVES WILL FLY COACH AIR FOR DOMESTIC TRAVEL AND BUSINESS CLASS FOR OVERSEAS TRAVEL. 2. UPGRADES OR ENHANCEMENTS ARE NOT REIMBURSED. 3. THE EXECUTIVES MAY MAKE AIR AND OTHER TRAVEL ARRANGEMENTS THROUGH THEIR RESPECTIVE UNIVERSITY OFFICES. EVERY ATTEMPT SHOULD BE MADE TO ACQUIRE ADVANCED PURCHASE TICKETS. WHEN IT IS NECESSARY TO CHANGE AN ADVANCED PURCHASED TICKET, CHANGE FEES AND ADDITIONAL SERVICE CHARGES ARE REIMBURSABLE. 4. TAX GROSS UP PAYMENTS ARE MADE WHEN APPLICABLE. Severance Payment Schedule J, Part I, Line 4a Individuals that received severance payments from the University: Russell J. DiGate, Provost term ended 7/13/12: $133,846 William L. Ashton, SR VP External Affairs term ended 11/30/12: $35,754 Philip Gerbino, Former President: $363,017 A PHILADELPHIA HIGHER EDUCATION FINANCING AUTHORITY 232243852 70917NU69 2005-01-15 40545000 REFUND ESCROWS, CONSTRUCTION & MIS false false false B PENNSYLVANIA HIGHER EDUCATION FINANCING AUTHORITY 232243852 70917RQY2 2008-05-17 67400000 REDEEM PRIOR BONDS AND CREATE DEBT false false false C PENNSYLVANIA HIGHER EDUCATION FINANCING AUTHORITY 232243852 70917RQY2 2012-09-12 31000000 REDEEM PRIOR BONDS AND CREATE DEBT false false false A 0 0 40545000 0 0 0 0 0 0 40545000 0 0 2005 false false true true B 0 0 67400000 5408560 0 61991440 0 0 0 0 0 0 2008 true true true true C 0 0 31000000 0 0 0 451661 0 0 0 0 0 2014 false false false true A false false false true true 0 0.00000 0.00000 false false false true B false false false true true 0.00000 0.00000 0.00000 false false false true C false false false false 0.00000 0.00000 0.00000 false false false true A false false false false false false 0 false false false 0 false B false false false false false false 0 false false false 0 false C false false false false false false 0 false 0 A false B false C false X Scientific EQUIPMENT 2 100000 FMV X RESTAURANT GIFT CARD 1 100 FMV false true false Form 990 Review Process Form 990, Part VI, Line 11b THE 990 IS PREPARED BY OUTSIDE INDEPENDENT TAX ADVISORS AND REVIEWED BY THE UNIVERSITY. IT IS REVIEWED BY THE AUDIT COMMITTEE. IT IS MADE AVAILABLE TO THE BOARD OF TRUSTEES PRIOR TO THE FILING DEADLINE. Conflict of Interest Policy Monitoring & Enforcement Form 990, Part VI, Line 12c THE BOARD OF TRUSTEES, OFFICERS AND KEY EMPLOYEES OF THE UNIVERSITY, BY VIRTUE OF THEIR OFFICES, HAVE A FIDUCIARY RELATIONSHIP WITH THE UNIVERSITY WHICH REQUIRES THAT THEY ACT IN GOOD FAITH AND WITH FIDELITY TO THE UNIVERSITY'S BEST INTERESTS. THE UNIVERSITY HAS WRITTEN CONFLICT OF INTEREST POLICIES WHICH ARE INTENDED TO PERMIT THE UNIVERSITY AND ITS TRUSTEES, OFFICERS AND OTHER KEY EMPLOYEES TO IDENTIFY, EVALUATE AND ADDRESS ANY CONFLICT OF INTEREST THAT MIGHT CALL INTO QUESTION THIS FIDUCIARY DUTY TO THE UNIVERSITY. EACH TRUSTEE, OFFICER AND KEY EMPLOYEE IS REQUIRED TO REPORT ANY CONFLICTS OF INTEREST TO THE UNIVERSITY AS SOON AS PRACTICAL AFTER THEY BECOME AWARE OF SUCH A CONFLICT. EACH TRUSTEE, OFFICER AND KEY EMPLOYEE SHALL ALSO ANNUALLY COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE. THE UNIVERSITY MONITORS COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICIES BY REVIEW OF THE ANNUAL CONFLICT OF INTEREST QUESTIONNAIRES BY THE OFFICE OF THE PRESIDENT. IF CONFLICTS OF INTEREST EXIST FOR OFFICERS AND KEY EMPLOYEES, THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES IS NOTIFIED AND DETERMINES THE CORRECTIVE MEASURE, IF ANY, TO BE TAKEN TO RESOLVE THE CONFLICT, OR WILL IMPOSE APPROPRIATE RESTRICTIONS, IF ANY ON THE PERSON WITH THE CONFLICT. FOR CONFLICTS OF INTEREST INVOLVING THE TRUSTEES, THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES WILL BE NOTIFIED OF THE CONFLICT AND WILL RECOMMEND TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES THE CORRECTIVE MEASURES, IF ANY, TO THE TAKEN TO RESOLVE THE CONFLICT OR APPROPRIATE RESTRICTIONS, IF ANY TO BE IMPOSED ON THE PERSON WITH THE CONFLICT. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES, EXCLUDING SUCH CONFLICTED PERSON, HAS THE FINAL APPROVAL OF ANY RECOMMENDED CORRECTIVE MEASURES OR IMPOSED RESTRICTIONS. SUCH RESTRICTIONS REQUIRE EXCLUDING CONFLICTED PERSONS FROM DISCUSSION AND APPROVAL OF TRANSACTIONS BENEFITTING THEM, DIRECTLY OR INDIRECTLY. Process for Determining Compensation Form 990, Part VI, Line 15a PURPOSE - TO ESTABLISH THE PARAMETERS REGARDING EXECUTIVE COMPENSATION, WITH THE OBJECTIVE OF PROVIDING TOTAL COMPENSATION TO THE PRESIDENT AND HIS EXECUTIVE LEADERSHIP TEAM WHICH WILL SERVE TO MAINTAIN A COMPETITIVE MARKET POSITION AND RECOGNIZE THE ACHIEVEMENT OF ESTABLISHED FINANCIAL, QUALITY AND STRATEGIC GOALS FOR THE UNIVERSITY AND TO RECOGNIZE INDIVIDUAL PERFORMANCE, CONSISTENT WITH THE LAWS, REGULATIONS AND PRINCIPLES GOVERNING NON-PROFIT COMPENSATION. AS USED HEREIN, "EXECUTIVES" SHALL BE THE PRESIDENT'S EXECUTIVE LEADERSHIP TEAM. PROCEDURE - TO ESTABLISH A LEVEL OF COMPENSATION REQUIRED TO RECRUIT AND RETAIN EXECUTIVES, THE UNIVERSITY SHALL GIVE PRIMARY CONSIDERATION TO DATA ON EXECUTIVE COMPENSATION FOR COMPARABLE POSITIONS. AS A GENERAL RULE, "COMPARABLE POSITIONS" ARE THOSE LIKE POSITIONS WITHIN HIGHER EDUCATION THAT ARE SIMILAR TO THE UNIVERSITY IN TERMS OF REVENUE, NUMBER OF STUDENTS, SIZE OF ENDOWMENT, NUMBER OF EMPLOYEES AND/OR GEOGRAPHIC AREA. THE EXECUTIVE COMMITTEE OF THE UNIVERSITY BOARD OF TRUSTEES (EXECUTIVE COMMITTEE) SHALL APPROVE THE PRESIDENT'S COMPENSATION, INCLUDING WITHOUT LIMITATION, BASE COMPENSATION, INCENTIVE COMPENSATION, DEFERRED COPMENSATION, FRINGE AND OTHER BENEFITS. EACH EXECUTIVE COMMITTEE MEMBER VOTING ON THE PRESIDENT'S COMPENSATION ARRANGEMENT SHALL ENSURE THAT (S)HE HAS NO CONFLICT OF INTEREST, INCLUDING THAT (S)HE (A) DOES NOT ECONOMICALLY BENEFIT FROM PROPOSED EMPLOYEE; (B) DOES NOT RECEIVE COMPENSATION SUBJECT TO THE APPROVAL OF THE PROPOSED EMPLOYEE; AND (C) HAS NO MATERIAL FINANCIAL INTEREST AFFECTED BY THE TRANSACTION. THE DECISIONS OF THE EXECUTIVE COMMITTEE REGARDING THE PRESIDENT'S COMPENSATION AND THE DECISIONS OF THE PRESIDENT REGARDING THE EXECUTIVES COMPENSATION IS TO BE DOCUMENTED. THIS PROCESS WAS LAST UNDERTAKEN IN 2012. Process for Determining Compensation Form 990, Part VI, Line 15b THE PRESIDENT SHALL APPROVE ALL EXECUTIVE COMPENSATION FOR THE EXECUTIVE LEADERSHIP TEAM, WHICH SHALL INCLUDE ALL COMPENSATION COMPONENTS, INCLUDING WITHOUT LIMITATION, BASE COMPENSATION, INCENTIVE COMPENSATION, DEFERRED COMPENSATION, FRINGE AND OTHER BENEFITS. THE PRESIDENT AND THE EXECUTIVE COMMITTEE SHALL USE COMPARABILITY DATA PROVIDED BY THE UNIVERSITY'S HUMAN RESOURCES DEPARTMENT, WHICH MAY INCLUDE INDUSTRY SURVEYS, EXPERT COMPENSATION STUDIES, DOCUMENTED COMPENSATION OF PERSONS HOLDING SIMILAR POSITIONS, OR OTHER COMPARABLE DATA IN APPROVING ANY COMPENSATION CHANGES. THE PRESIDENT AND THE EXECUTIVE COMMITTEE SHALL PERIODICALLY RETAIN THE SERVICES OF A COMPENSATION CONSULTANT TO PROVIDE AN EXTERNAL ASSESSMENT OF THE UNIVERSITY'S COMPENSATION ANALYSIS. IT SHOULD BE NOTED THAT THIS INFORMATION IS USED TO ARRIVE AT A REASONABLE AND ARM'S LENGTH DETERMINATION OF TOTAL COMPENSATION. How Documents are Made Available to the Public Form 990, Part VI, Line 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC BY POSTING THE INFORMATION ON THE ORGANIZATION'S WEBSITE. Form 990, part XI, line 9 Reconcilation of net assets Pension Cost Change............................. (251,563) Annuity Adjustment............................. 769 Endowment Distribution......................... (6,300,000) ------------ Total Other Changes in Net Assets $ (6,550,794) KINGSESSING REALTY LLC 600 SOUTH 43RD STREET PHILADELPHIA PA 19104 233067213 PARTNERSHIP PA -22796 2274427 NA