2012-11-14T11:52:11-06:00 2012-06-30 251638525 GROSSMAN YANAK & FORD LLP THREE GATEWAY CTR STE 1800 PITTSBURGH PA 15222 990 2011-07-01 251065148 GROVE CITY COLLEGE GROV 7244582000 100 CAMPUS DRIVE GROVE CITY PA 161272104 ROGER K TOWLE 7244582000 2012-11-12 1 RICHARD E DYNOSKE P00095538 4123389300 2011 2016-02-24 21:20:13Z RICHARD G JEWELL 100 CAMPUS DRIVE GROVE CITY PA 16127 168524888 0 X WWW.GCC.EDU X 1876 PA A SCHOOL OF HIGHER EDUCATION 35 35 1937 100 333824 -549131 15081098 12622534 50695007 51957878 14146200 4310093 774073 688352 80696378 69578857 5268517 5459108 0 0 31675920 30332774 129166 21911 1594309 24108014 25869128 61181617 61682921 19514761 7895936 265577669 282285049 21527996 40697589 244049673 241587460 SCHOOL OF HIGHER EDUCATION 0 0 24813655 5329442 33753961 ACADEMIC INSTRUCTION 4379514 66166 ACADEMIC SUPPORT - INCLUDES EXPENSES FOR LIBRARY, ATHLETICS, AND STUDENT HEALTH CARE 19222547 18203917 AUXILIARY ENTERPRISES - INCLUDES EXPENSES FOR DINING HALLS, DORMITORIES, BOOKSTORE, AND FOUNTAIN ROOM 48415716 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 0 1 0 1 0 1 0 1 1 0 0 0 1 1 1 0 0 0 0 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 3278 0 1 1937 1 1 1 0 0 0 0 1 1 0 1 1 0 0 0 0 X 35 35 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AZ KY MD MA MI NH NY OH OK OR PA WA X MICHELLE WILLIAMS 7244582214 100 CAMPUS DRIVE GROVE CITY PA 16127 ALICE MORRE BATCHELDER ESQ 0.50 X 0 0 0 ANDREW J KOZUSKO 0.50 X 0 0 0 ARTHUR J SCHWAB ESQ 1.00 X 12500 0 0 DON BALLA 0.50 X 0 0 0 C DALE REIS 1.00 X 0 0 0 ALEJANDRO CHAFUEN 0.50 X 0 0 0 CHARLOTTE A ZUSCHLAG 1.00 X 0 0 0 CLEASTER MIMS 0.50 X 0 0 0 DAVID CASHDOLLAR 0.50 X 0 0 0 DAVID PORTER ESQ 1.00 X 0 0 0 DAVID R RATHBURN 6.00 X 0 0 0 DAWN M OWENS 0.50 X 0 0 0 TED JOHNSON 0.50 X 0 0 0 EDWARD D BREEN 0.50 X 0 0 0 GEORGE R GUNN JR 1.00 X 0 0 0 HENRY W HOPEMAN 1.00 X 0 0 0 JACK KOPNISKY 1.00 X 0 0 0 JODY LYNNE MATHIE 0.50 X 0 0 0 JOSEPH GUMMEL 0.50 X 0 0 0 LAURA R HAVRILLA 0.50 X 0 0 0 ROBB JONES 1.00 X 0 0 0 MILTON W SHLAPAK 0.50 X 0 0 0 PAUL MCNULTY 1.00 X 0 0 0 PHILIP GASIEWICZ 2.00 X 0 0 0 ERIC PILLMORE 0.50 X 0 0 0 RONALD H MILLER 1.00 X 0 0 0 SAMUEL G CASOLARI JR ESQ 1.00 X 0 0 0 STANLEY M JOHNSON 1.00 X 0 0 0 THE REVERAND RICHARD A MORLEDGE 0.50 X 0 0 0 WALTER WILLIAMS 0.50 X 0 0 0 WILLIAM A MEHAFFEY 0.50 X 0 0 0 WILLIAM STEWART 0.50 X 0 0 0 DAN SANDMAN 0.50 X 0 0 0 COURTNEY BABCOCK BORNTRAEGER 0.50 X 0 0 0 DOUGLAS KNABLE 0.50 X 0 0 0 JEFF PROKOVICH 40.00 X 125200 0 4873 LARRY HARDESTY 40.00 X 91223 0 14330 RICHARD JEWELL JD 40.00 X 298842 0 54847 ROGER TOWLE 40.00 X 158334 0 19370 THOMAS GREGG 40.00 X 118325 0 35518 TIMOTHY R BONNER ESQ 0.50 X 0 0 0 VINCE DISTASI PHD 40.00 X 106044 0 14640 WILLIAM ANDERSON PHD 40.00 X 173480 0 30106 ED ARNOLD 40.00 X 118062 0 16882 JOHN SPARKS 40.00 X 154620 0 17970 STACY BIRMINGHAM 40.00 X 133341 0 5182 PAUL SCHAEFER 40.00 X 108956 0 3248 CRAIG COLUMBUS 40.00 X 124606 0 1048 1723533 0 218014 11 0 1 0 BON APPETIT MANAGEMENT COMPANY 2730 SAND HILL ROAD SUITE 100 MENLO PARK CA 94025 FOOD SERVICE MGMT 5294217 PJ DICK INC PO BOX 6774 PITTSBURGH PA 15212 CONSTRUCTION SERVICES 4696977 WALLACE BUILDERS BOX 333 PULASKI PA 16143 CONSTRUCTION SERVICES 2459004 BALLINGER 833 CHESTNUT ST SUITE 1400 PHILADELPHIA PA 19107 ENGINEERING 1241559 RENICK BROTHERS PO BOX 94 SLIPPERY ROCK PA 16057 CONSTRUCTION SERVICES 1104030 11 12622534 760434 12622534 ACADEMIC TUITION/FEES 611600 33753961 33753961 ROOM AND BOARD FEES 611710 17034523 17034523 BOOKSTORE/FOUNTAIN SAL 611710 1169394 1133697 35697 51957878 3220926 3224239 -3313 100035198 98946031 1089167 1089167 1089167 MISC INCOME 900099 407825 386347 21478 SUMMER CONFERENCE/RENT 531390 280527 565 279962 688352 69578857 56622499 333824 0 66166 66166 5329442 5329442 63500 63500 1243331 1113258 130073 23598214 17925062 4966011 707141 1039103 768036 238282 32785 2701174 1997063 618953 85158 1750952 1300253 395386 55313 89053 89053 76781 76781 21911 21911 229838 44163 185675 1217723 30671 817973 369079 1250725 629065 553855 67805 132770 127669 5101 3478440 3371596 94757 12087 1100124 674978 341898 83248 340542 340542 7600794 7600794 138560 138560 CONTRACT BOARD FEES 3967615 3967615 OTHER EXPENSES 2224565 860748 1338662 25155 EQUIPMENT, MAINTENANCE, 2125307 1624044 496709 4554 BOOKSTORE MERCHANDISE 841324 841324 1054967 1054967 61682921 48415716 11672896 1594309 707706 447833 10390421 8513728 435994 454221 479588 502972 780644 927394 243958968 93712335 125980918 150246633 102148131 93362838 21628470 25031202 3025797 2798228 265577669 282285049 3362595 7500683 2076386 2003671 7254191 19456526 8834824 11736709 21527996 40697589 X 125410511 144580232 60452295 37319531 58186867 59687697 244049673 241587460 265577669 282285049 X 7895936 -10358149 X X 1 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X EDUCATION 0 85015042 962728 -868463 5392942 1258955 78457410 75546044 2912529 12705630 5176851 972310 85015042 69779684 1884987 5989775 4836564 -2728162 75546044 90797926 3036760 -18931057 4645491 478454 69779684 0.06000 0.94000 0.00000 1 0 1737572 1737572 176255219 75108477 101146742 36092264 18603858 17488406 29873913 29873913 150246633 SECURITIES 25031202 F 25031202 LINE OF CREDIT 4345627 ACCRUED PENSION COSTS 7228174 FAIR VALUE OF DERIVATIVE INSTRUMENT 162908 11736709 69578857 61682921 7895936 -6860841 -3497308 -10358149 -2462213 68800857 0 68800857 778000 778000 69578857 72819070 11136149 11136149 61682921 0 61682921 PART III, LINE 1A: THE COLLEGE HAS A COLLECTION OF ART, LITERARY WORKS, HISTORICAL TREASURES AND ARTIFACTS WHICH ARE PROTECTED AND PRESERVED FOR PUBLIC EXHIBITION, EDUCATION AND RESEARCH. THEY ARE NEITHER DISPOSED OF FOR FINANCIAL GAIN NOR ENCUMBERED IN ANY MANNER. ACCORDINGLY, SUCH COLLECTIONS ARE NOT RECOGNIZED OR CAPITALIZED FOR FINANCIAL STATEMENT PURPOSES. THE ESTIMATED FAIR MARKET VALUE OF COLLECTIONS WAS APPROXIMATELY $4,000,000 AT JUNE 30, 2012 AND 2011. PART III, LINE 4: THE COLLEGE HAS A COLLECTION OF ART, LITERARY WORKS, HISTORICAL TREASURES AND ARTIFACTS WHICH ARE PROTECTED AND PRESERVED FOR PUBLIC EXHIBITION, EDUCATION AND RESEARCH. THEY ARE NEITHER DISPOSED OF FOR FINANCIAL GAIN NOR ENCUMBERED IN ANY MANNER. ACCORDINGLY, SUCH COLLECTIONS ARE NOT RECOGNIZED OR CAPITALIZED FOR FINANCIAL STATEMENT PURPOSES. THE ESTIMATED FAIR MARKET VALUE OF COLLECTIONS WAS APPROXIMATELY $4,000,000 AT JUNE 30, 2012 AND 2011. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE COLLEGE'S ENDOWMENTS CONSIST OF NUMEROUS INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. ITS ENDOWMENTS INCLUDE BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. APPROXIMATELY 86% OF THE FUNDS ARE RESTRICTED FOR FINANCIAL AID PURPOSES, 10% FOR OPERATIONS, AND 4% FOR PHYSICAL PLANT. PART XI, LINE 8 - OTHER ADJUSTMENTS: PENSION RELATED CHANGES OTHER THAN NET PERIODIC PENSION COST -4,275,308. CHANGE IN VALUE OF CHARITABLE TRUST 778,000. TOTAL TO SCHEDULE D, PART XI, LINE 8: -3,497,308. PART XII, LINE 4B - OTHER ADJUSTMENTS: CHANGE IN VALUE OF CHARITABLE TRUST 778,000. PART XIII, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED LOSS ON INVESTMENTS 6,860,841. PENSION RELATED CHANGES OTHER THAN NET PERIODIC PENSION COST 4,275,308. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 NEWSPAPER ADVERTISEMENTS 0 EUROPE 0 2 PROGRAM SERVICES ACADEMIC INSTRUCTION 569186 SOUTH AMERICA 0 0 PROGRAM SERVICES ACADEMIC INSTRUCTION 94410 RUSSIA 0 0 PROGRAM SERVICES ACADEMIC INSTRUCTION 79035 CENTRAL AMERICA/CARIBBEAN 0 0 PROGRAM SERVICES ACADEMIC INSTRUCTION 73359 EAST ASIA 0 0 PROGRAM SERVICES ACADEMIC INSTRUCTION 13107 EUROPE 0 0 PROGRAM SERVICES FACULTY DEVELOPMENT 14243 EAST ASIA 0 0 PROGRAM SERVICES FACULTY DEVELOPMENT 2592 0 2 0 0 0 2 845932 0 845932 SCHOLARSHIPS EAST ASIA 3 2700 CREDIT ON ACCOUNT 0 BOOK VALUE SCHOLARSHIPS EUROPE 29 58700 CREDIT ON ACCOUNT 0 BOOK VALUE SCHOLARSHIPS RUSSIA 1 2100 CREDIT ON ACCOUNT 0 BOOK VALUE 0 0 0 0 0 0 THE COLLEGE PROVIDES SCHOLARSHIPS TO STUDENTS AS A CREDIT TO THEIR STUDENT CHARGES OF TUITION, ROOM AND BOARD, AND OTHER FEES RELATED TO THE COST OF ATTENDANCE. X X X X X 1 MIND OVER MEDIA PO BOX 392 SEWICKLEY PA 15143 CAMPAIGN 0 0 21911 -21911 21911 -21911 AL CA FL GA IL KS LA MO NJ NM NC ND PA RI TN WV WI 1 BOROUGH OF GROVE CITY PO BOX 110 GROVE CITY PA 16127 256000377 16666 CONTRIBUTION GROVE CITY YMCA 543 E MAIN ST EXT GROVE CITY PA 16127 250995782 501(C)(3) 33500 CONTRIBUTION IMANI CHRISTIAN ACADEMY 235 EASTGATE DR PITTSBURGH PA 15235 251816131 501(C)(3) 6000 CONTRIBUTION GEORGE JUNIOR REPUBLIC 233 GEORGE JUNIOR RD GROVE CITY PA 16127 251536204 501(C)(3) 10000 CONTRIBUTION 3 1 SCHOLARSHIPS 1186 5329442 0 BOOK VALUE N/A PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: ALL SCHOLARSHIPS ARE PROVIDED AS A CREDIT TO THE STUDENT TO COVER CHARGES OF TUITION, ROOM AND BOARD, AND OTHER FEES RELATED TO THE COST OF ATTENDANCE. X X X X 1 1 X X X X 0 0 0 0 0 1 0 0 0 RICHARD JEWELL JD 284842 0 14000 0 0 0 10200 0 44647 0 353689 0 0 0 ROGER TOWLE 158334 0 0 0 0 0 8734 0 10636 0 177704 0 0 0 THOMAS GREGG 118325 0 0 0 0 0 4462 0 31056 0 153843 0 0 0 WILLIAM ANDERSON PHD 173480 0 0 0 0 0 6416 0 23690 0 203586 0 0 0 JOHN SPARKS 154620 0 0 0 0 0 7993 0 9977 0 172590 0 0 0 PART I, LINE 6 THE PRESIDENT'S BONUS IS DETERMINED EACH YEAR BY CRITERIA SET FORTH BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES INCLUDING SUBJECTS SUCH AS: FUNDRAISING, FINANCIAL PERFORMANCE RELATED TO THE COLLEGE'S OPERATING BUDGET, STRATEGIC PLANNING OUTCOMES, AND ACADEMIC ACCREDITATIONS. THE AWARD IS A PERCENTAGE OF THE BASE COMPENSATION UP TO A MAXIMUM OF 5%. WILLIAM ANDERSON OFFICER 12743 TUITION REMISSION THOMAS GREGG OFFICER 19415 TUITION REMISSION KATHRYN ANDERSON SPOUSE OF OFFICER 13200 REPORTABLE COMPENSATION 0 DAVID RATHBURN TRUSTEE 27432 PAYMENT TO COMPANY (50% OWNER) FOR FLIGHT SERVICES 0 X 2 0 X 0 X 389 RECEIPTS X 20 728740 H/C AVERAGE X 114 0 X EQUIPMENT 13 8110 RECEIPTS X EVENT EXPENSES 2 416 RECEIPTS X TRAVEL EXPENSES 13 22779 EXPENSE REPORT/RECEIPTS 0 1 1 THIRD PARTY USE: PART I, LINE 32B: UBS RECEIVES AND SELLS STOCK NON REPORTING OF REVENUE: PART I, LINE 33: SCHEDULE M LINE 1 - THE COLLEGE RECEIVED 2 PAINTINGS SCHEDULE M LINE 4 - THE COLLEGE RECEIVED DONATIONS OF 7 BOOKS SCHEDULE M LINE 18 - THE COLLEGE RECEIVED MULTIPLE COLLECTION ITEMS SUCH AS LETTERMAN JACKETS, SORORITY/FRATERNITY MEMORABILIA, SPORTS UNIFORMS, ETC. RELATING TO THE HISTORY OF THE COLLEGE FORM 990, SCHEDULE D, PART V ENDOWMENT FUNDS THE ENDOWMENT FUNDS WERE RESTATED TO REFLECT CORRECTIONS FOR PRIOR YEAR REPORTING. FORM 990, PART VI, SECTION B, LINE 11 THE FORMS 990 AND 99O-T ARE PREPARED BY THE FINANCIAL SERVICES DEPARTMENT, REVIEWED AND APPROVED BY THE VICE PRESIDENT FOR FINANCIAL AFFAIRS AS WELL AS THE FINANCE AND AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. UPON THEIR APPROVALS, THE FORMS ARE PROVIDED TO THE ENTIRE BOARD OF TRUSTEES AND THEN REVIEWED AND FILED ELECTRONICALLY WITH THE IRS BY THE COLLEGE'S INDEPENDENT AUDITORS. FORM 990, PART VI, SECTION B, LINE 12C THE COLLEGE'S OFFICERS AND TRUSTEES MUST SUBMIT A QUESTIONNAIRE EACH YEAR BY AUGUST 31ST TO THE CHAIR OF THE GOVERNANCE COMMITTEE OF THE BOARD OF TRUSTEES REGARDING POTENTIAL CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE VICE PRESIDENT FOR FINANCIAL AFFAIRS PROVIDES THE PRESIDENT OF THE COLLEGE WITH A LIST OF CURRENT COMPENSATION FOR ALL OFFICERS AND THE MEDIAN SALARY OF SIMILAR POSITIONS FROM THE CHRONICLE OF HIGHER EDUCATION AS WELL AS OTHER COMPENSATION SURVEY INFORMATION FOR COMPARABLE COLLEGES AND UNIVERSITIES. THE PRESIDENT THEN REVIEWS THIS INFORMATION AND MAKES COMPENSATION RECOMMENDATIONS FOR THE SIX VICE PRESIDENTS TO THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE REVIEWS THE PRESIDENT'S RECOMMENDATIONS AND DETERMINES THE COMPENSATION FOR THE ENSUING YEAR FOR EACH VICE PRESIDENT AND REPORTS THEIR DECISION TO THE BOARD OF TRUSTEES. THE COMPENSATION OF THE PRESIDENT IS REVIEWED WITH THE SAME COMPARABLE SURVEY INFORMATION, DETERMINED, AND APPROVED BY THE EXECUTIVE COMMITTEE AND THEN REVIEWED WITH AND APPROVED BY THE FULL BOARD OF TRUSTEES. THE APPROVAL OF SUCH COMPENSATION IS DOCUMENTED IN BOTH THE MINUTES OF THE EXECUTIVE COMMITTEE AND THE BOARD OF TRUSTEES. THIS PROCESS IS UNDERTAKEN ANNUALLY FOR THE FOLLOWING POSITIONS (LAST UNDERTAKEN IN MAY 2012): PRESIDENT VICE PRESIDENT FOR ACADEMIC AFFAIRS AND PROVOST VICE PRESIDENT AND CHIEF INFORMATION OFFICER VICE PRESIDENT FOR OPERATIONS VICE PRESIDENT FOR STUDENT LIFE AND LEARNING VICE PRESIDENT FOR INSTITUTIONAL ADVANCEMENT VICE PRESIDENT FOR FINANCIAL AFFAIRS FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES, AND FINANCIAL STATEMENTS ARE NOT PUBLICLY DISTRIBUTED BUT ARE AVAILABLE UPON REQUEST. THE SUMMARY FINANCIAL INFORMATION IS PUBLISHED ANNUALLY IN THE COLLEGE'S ANNUAL REPORT. THE COLLEGE MAKES FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST AS REQUIRED UNDER THE PUBLIC DISCLOSURE LAW. FORM 990, PART VIII, LINE 1H CHANGES IN PLEDGES AND CONTRIBUTIONS RECEIVABLE ARE NETTED AGAINST CONTRIBUTIONS REVENUE FOR FINANCIAL STATEMENT PRESENTATION. THE TOTAL CONTRIBUTIONS OF $12,622,534 REPORTED ON PART VIII, LINE 1H WERE LOWER THAN THE DETAILED CONTRIBUTIONS OVER $5,000 REPORTED ON SCHEDULE B DUE TO THE RECEIPT OF PRIOR YEAR PLEDGES AND CONTRIBUTIONS RECEIVABLE. FOR THE YEAR ENDING JUNE 30, 2012, PLEDGES RECEIVABLE DECREASED APPROXIMATELY $1,400,000 AND CONTRIBUTIONS RECEIVABLE ALSO DECREASED APPROXIMATELY $1,400,000 FOR A TOTAL DECREASE AGAINST CONTRIBUTIONS REVENUE OF $2,800,000. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -6,860,841. PENSION RELATED CHANGES OTHER THAN NET PERIODIC PENSION COST -4,275,308. CHANGE IN VALUE OF CHARITABLE TRUST 778,000. TOTAL TO FORM 990, PART XI, LINE 5: -10,358,149. FORM 990, PART XII, LINE 2C: THERE WERE NO SIGNIFICANT CHANGES FROM THE PRIOR YEAR IN THE OVERSIGHT OF THE FINANCIAL STATEMENT AUDIT.