2012-03-12T16:17:55-05:00 2011-06-30 SCHNEIDER DOWNS & CO INC 1133 PENN AVENUE PITTSBURGH PA 15222 990 2010-07-01 250965438 CARLOW UNIVERSITY CARL 4125786000 3333 FIFTH AVENUE PITTSBURGH PA 15213 TYLER A KELSCH 4125786000 2012-03-12 1 SUSAN M KIRSCH 4122613644 2010 2016-02-24 21:20:13Z DR MARY HINES 3333 FIFTH AVENUE PITTSBURGH PA 15213 52916468 0 X WWW.CARLOW.EDU X 1929 PA POST SECONDARY EDUCATION. 29 28 1036 351 0 0 2669380 5701103 41383446 43330834 570004 601524 7894 4313 44630724 49637774 7833337 8783109 0 0 22692730 23350302 30000 185027 992507 14334329 14565634 44890396 46884072 -259672 2753702 48632946 67111069 10111100 23823404 38521846 43287665 X CARLOW UNIVERSITY IS A CATHOLIC, WOMEN-CENTERED, LIBERAL ARTS INSTITUTION EMBODYING THE HERITAGE AND VALUES OF THE SISTERS OF MERCY, AND ENGAGING ITS DIVERSE COMMUNITY IN A PROCESS OF LIFE-LONG LEARNING, SCHOLARSHIP AND RESEARCH. THIS ENGAGEMENT EMPOWERS INDIVIDUALS TO THINK CLEARLY AND CREATIVELY; TO ACTIVELY PURSUE INTELLECTUAL ENDEAVORS; TO DISCOVER, CHALLENGE, OR AFFIRM CULTURAL AND AESTHETIC VALUES; TO RESPOND REVERENTLY TO GOD AND OTHERS; AND TO EMBRACE AN ETHIC OF SERVICE FOR A JUST AND MERCIFUL WORLD. 0 0 40102505 8783109 43330834 CARLOW UNIVERSITY, A CATHOLIC, WOMEN-CENTERED, LIBERAL ARTS INSTITUTION EMBODYING THE HERITAGE AND VALUES OF THE SISTERS OF MERCY, ENGAGES ITS DIVERSE COMMUNITY IN A PROCESS OF LIFE-LONG LEARNING, SCHOLARSHIP, AND RESEARCH. THIS ENGAGEMENT EMPOWERS INDIVIDUALS TO THINK CLEARLY AND CREATIVELY; TO ACTIVELY PURSUE INTELLECTUAL ENDEAVORS; TO DISCOVER, CHALLENGE, OR AFFIRM CULTURAL AND AESTHETIC VALUES; TO RESPOND REVERENTLY TO GOD AND OTHERS; AND TO EMBRACE AN ETHIC OF SERVICE FOR A JUST AND MERCIFUL WORLD. CARLOW OFFERS UNDERGRADUATE DEGREE PROGRAMS IN THE ARTS AND SCIENCES, EDUCATION, MANAGEMENT, AND HEALTH CARE PROFESSIONS AND GRADUATE PROGRAMS IN BUSINESS ADMINISTRATION AND MANAGEMENT, HEALTH CARE, LEADERSHIP, AND PROFESSIONAL COUNSELING. 40102505 1 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 1 54 0 1 1036 1 0 0 0 0 0 0 0 0 0 0 X 29 28 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X DOROTHY ANTONUCCI 4125788770 3333 FIFTH AVENUE PITTSBURGH PA 15213 DEBORAH L ACKLIN 2.00 X 0 0 0 MICHELE R ATKINS 2.00 X 0 0 0 JOYCE A BENDER 2.00 X 0 0 0 KATHLEEN W BUECHEL 2.00 X 0 0 0 JACK L BURLEY SR 2.00 X 0 0 0 JOANNE COURNEEN RSM 2.00 X 0 0 0 BRUCE I CROCKER EXITED 51811 2.00 X 0 0 0 JOHN R DENNY JR 2.00 X 0 0 0 JACKIE DIXON 2.00 X 0 0 0 E JEANNE GLEASON 2.00 X 0 0 0 PAULA J HASBACH 2.00 X 0 0 0 PATRICIA MARY HESPELEIN RSM 2.00 X 0 0 0 MARY BETH JENKINS 2.00 X 0 0 0 BARBARA CAPOZZI KIRR 2.00 X 0 0 0 MAUREEN LALLY-GREEN 2.00 X 0 0 0 DANIEL J LEBISH 2.00 X 0 0 0 DIANE C MATJE RSM 2.00 X 0 0 0 INEZ MILES 2.00 X 0 0 0 MILDRED S MYERS DA 2.00 X 0 0 0 GEORGE L PRY 2.00 X 0 0 0 JANET SIMON PHD EXITED 052111 2.00 X 0 0 0 PATRICIA WHALEN RSM 2.00 X 0 0 0 GEORGE R WHITMER MPA 2.00 X 0 0 0 JAMES A WILKINSON JD 2.00 X 0 0 0 JUDITH WORDEN RSM 2.00 X 0 0 0 LOUISE R MALAKOFF JD 2.00 X X 0 0 0 THERESA A SCOTTI 2.00 X X 0 0 0 JUDITH STOJHOVIC RSM 2.00 X X 0 0 0 KAREN DUNN KELLEY 2.00 X X 0 0 0 CECILIA MURPHY RSM 2.00 X X 0 0 0 MARY HINES PHD 50.00 X X 282319 0 58987 MARGARET MCLAUGHLIN 50.00 X 165489 0 17126 TYLER KELSCH 50.00 X 158378 0 26806 KAREN GALENTINE 40.00 X 122023 0 8019 DR CLARE HOPKINS 40.00 X 115265 0 19931 MARY ROTHENBERGER EDD 40.00 X 114006 0 13635 DR ROBERTA SCHOMBURG 40.00 X 112995 0 30899 DIANE MATTHEWS 40.00 X 102067 0 32865 1172542 0 208268 9 0 1 0 SUNGUARD HIGHER EDUCATION MANAGED SERVIC 13377 COLLECTIONS CENTER DR CHICAGO IL 60693 INFORMATION TECHNOLOGY OUTSOURCING 1210615 ALADDIN FOOD MANAGEMENT SERVICES 16567 COLLECTIONS CENTER DR CHICAGO IL 60693 FOOD SERVICE 1017055 BLACKBOARD INC PO BOX 200154 PITTSBURGH PA 15251 MAINTENANCE/SUPPORT 392002 DATATEL 4375 FAIR LAKES COURT FAIRFAX VA 22033 MAINTENANCE/SUPPORT 301017 PRESIDIO NETWORKED SOLUTIONS PO BOX 822169 PHILADELPHIA PA 19182 MAINTENANCE/SUPPORT 257518 6 5665 889436 4806002 162396 5701103 TUITION AND FEES 611600 35826497 35826497 RESIDENCE HALL & BOARD 721310 3326207 3326207 CARLOW CAMPUS SCHOOL 611600 2563948 2563948 AUXILIARY PROGRAMS 900099 1350655 1350655 CHILDREN'S CENTER 624410 263527 263527 43330834 327805 327805 3544291 3270572 273719 273719 273719 12435 5665 8122 4313 4313 49637774 43330834 0 605837 8783109 8783109 1517195 1068479 319156 129560 17371443 15160568 1880369 330506 757826 657735 80732 19359 2421364 2092963 266637 61764 1282474 1107534 143718 31222 174242 134166 40076 108340 83422 24918 78148 60174 17974 185027 185027 84418 65002 19416 629230 513333 71956 43941 688428 535681 152130 617 1430495 1101749 264369 64377 2638000 2067814 560039 10147 2741384 2082618 619288 39478 431981 331030 85355 15596 163207 81779 18231 63197 407500 313775 93725 1889455 1454880 434575 487897 375681 112216 AUXILIARY SERVICE EXP. 1116486 859213 256648 625 STUDENT PROGRAMS 540672 419320 121352 DEBT REFINANCING COST 432016 332652 99364 MISCELLANEOUS 229380 174556 49611 5213 ENROLLMENT & REGISTRAR 147295 113417 33878 147060 131855 23327 -8122 46884072 40102505 5789060 992507 2020494 2227262 1675060 2672004 1211051 1646340 1588741 1233993 2039885 1959919 632735 864034 68199325 37078026 27855702 31121299 11574028 15070929 35250 35250 0 10280039 48632946 67111069 2954935 3154680 30000 30000 4804227 18300600 2321938 2338124 10111100 23823404 X 21921434 23600630 4654110 5980133 11946302 13706902 38521846 43287665 48632946 67111069 X 2753702 2012117 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 484 0 0 484 0 13271664 2409867 2518714 273587 221647 17705011 13000739 -456725 1232915 292406 212859 13271664 12541003 2501034 -1887311 153987 13000739 0.11680 0.77420 0.10900 0 0 1138348 1138348 47313781 32274142 15039639 16796647 4803884 11992763 2950549 2950549 31121299 UNDISBURSED BOND PROCEEDS 10280039 10280039 STUDENTS DEPOSITS FOR PLACE & ROOM HOLDING 176495 FEDERAL LOAN ADVANCES 2161629 2338124 49637774 46884072 2753702 2012117 2012117 4765819 43641000 2012117 -7924473 -5912356 49553356 84418 84418 49637774 38875181 8122 8122 38867059 84418 7932595 8017013 46884072 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE UNIVERSITY'S ENDOWMENT CONSISTS OF APPROXIMATELY 250 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. ITS ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. AS REQUIRED BY GAAP, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF TRUSTEES, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE UNIVERSITY FOLLOWS THE CODIFICATION TOPIC ON INCOME TAXES, WHICH PRESCRIBES A MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT METHODOLOGY THAT A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN FINANCIAL STATEMENTS. THE COLLEGE'S STATEMENTS OF FINANCIAL POSITION AT JUNE 30, 2011 AND 2010 DO NOT INCLUDE ANY LIABILITIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS; FURTHER, THE UNIVERSITY HAS NO UNRECOGNIZED TAX BENEFITS. THE UNIVERSITY IS NO LONGER SUBJECT TO EXAMINATION OF ITS TAX RETURNS FOR YEARS BEFORE 2008. PART XII, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FINANCIAL AID : -7,500,579. DEBT PREPAYMENT PENALTY: -432,016. SPECIAL EVENT EXPENSES: 8,122. PART XIII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES: 8,122. PART XIII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FINANCIAL AID : 7,500,579. DEBT PREPAYMENT PENALTY: 432,016. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 ALL RECRUITING PUBLICATIONS AND COLLEGE CATALOGS CONTAIN EXPRESS STATEMENTS THAT THE COLLEGE DOES NOT DISCRIMINATE ON THE BASIS OF RACE, CREED, SEX, OR RELIGION. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE UNIVERSITY DISTRIBUTES STUDENT FINANCIAL ASSISTANCE FUNDS ON BEHALF OF FEDERAL AND STATE GOVERNMENTS. THIS ASSISTANCE INCLUDED FEDERAL AID FROM PELL GRANT AWARDS $2,709,297, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT AWARDS $213,475, COLLEGE WORK STUDY AWARDS $189,264 AND OTHER PROGRAMS $186,849. THE UNIVERSITY ALSO RECEIVED STATE AID FROM THE PA HIGHER EDUCATION ASSISTANCE AUTHORITY AWARDS IN THE AMOUNT OF $2,408,820. 0 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES CREATIVE WRITING PROGRAM/FINE ARTS PROGRAMS 159817 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY ABROAD 23336 0 0 0 0 0 0 183153 0 183153 0 0 0 0 0 0 X X X X X X 1 DEE JAY OSHRY 1532 ASBURY PLACE PITTSBURGH PA 15217 FUNDRAISING 0 0 180000 -180000 GSP CONSULTING W STATION SQ DR PITTSBURGH PA 15219 FUNDRAISING 0 0 5027 -5027 185027 -185027 AK AZ AR CA CO CT FL ME MD MA NH NM PA DC WA ROSE HAUBER LUNCHEON 18100 5665 12435 400 3713 350 3659 18100 5665 12435 400 3713 350 3659 8122 4313 1 STUDENT SCHOLARSHIPS 971 8783109 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: GRANT FUNDS ARE MONITORED BY THE FINANCIAL AID OFFICE AND ACCOUNTING OFFICES. X X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 MARY HINES PHD 238681 0 4515 0 39123 0 36350 0 22637 0 341306 0 0 0 MARGARET MCLAUGHLIN 165489 0 0 0 0 0 7500 0 9626 0 182615 0 0 0 TYLER KELSCH 158378 0 0 0 0 0 0 0 26806 0 185184 0 0 0 ALLEGHENY COUNTY HIGHER EDUCATION BUILDING AUTHORITY 251650137 01728RHT9 2011-06-09 18052311 REFUNDING AND CAPITAL IMPROVEMENTS 0 0 0 18052311 1480463 7479448 292824 8799576 2010 1 0 0 1 0 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 0 0 0 0 SCHEDULE K, PART I, LINE A(F) DESCRIPTION OF PURPOSE: TO FINANCE THE COSTS OF A PROJECT CONSISTING OF (I) THE ACQUISITION OF AND RENOVATION OF A SCHOOL BUILDING, TECHNOLOGY UPGRADES THROUGHOUT THE UNIVERSITY CAMPUS (INCLUDING BUT NOT LIMITED TO, TELEPHONE, COMPUTER SOFTWARE AND COMPUTER EQUIPMENT), (II) THE RENOVATION AND IMPROVEMENT OF VARIOUS UNIVERSITY-OWNED AND LEASED PROPERTY, INCLUDING BUT NOT LIMITED TO, CURRAN HALL, DOUGHERTY AND FRANCES WARDE RESIDENCE HALLS, ANTONIAN HALL, TIERNAN HALL, GRACE LIBRARY AND THE NURSING PROGRAM LEASED FACILITIES, (III) THE REFUNDING OF THE OUTSTANDING WILKINS AREA INDUSTRIAL DEVELOPMENT AUTHORITY, UNIVERSITY REVENUE NOTE, SERIES OF 2005 (CARLOW UNIVERSITY PROJECT), (IV) THE REFUNDING OF ALL OR A PORTION OF THE UNIVERSITY'S LEASES WITH CISCO SYSTEMS CAPITAL CORPORATION AND UNIVERSITY LEASE AND (V) FUNDING CAPITALIZED INTEREST AND ANY RESERVES, AND PAYING ALL OR A PORTION OF THE RELATED FINANCING COSTS. X 7 162396 FAIR MARKET VALUE X 1 0 0 0 1 THIRD PARTY USE: PART I, LINE 32B: THE ORGANIZATION UTILIZED AN UNRELATED THIRD PARTY BROKERAGE FIRM TO SELL PUBLICLY TRADED SECURITIES. FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF THE UNIVERSITY IS THE CONFERENCE FOR MERCY HIGHER EDUCATION WHICH EXERCISES RESERVED CANONICAL POWERS DELEGATED BY THE INSTITUTE OF THE SISTERS OF MERCY OF THE AMERICAS. FORM 990, PART VI, SECTION A, LINE 7A AT LEAST ONE-THIRD OF THE TOTAL TRUSTEES (EX-OFFICIO AND ELECTED TRUSTEES) SHALL BE PROFESSED SISTERS OF THE INSTITUTE OF THE SISTERS OF MERCY OF THE AMERICAS OR ITS CANONICAL SUCCESSOR. THERE SHALL BE FOUR EX-OFFICIO TRUSTEES, WHO SHALL BE VOTING MEMBERS OF THE BOARD OF TRUSTEES AND INCLUDED IN THE TOTAL NUMBER OF TRUSTEES, AND SUCH EX-OFFICIO TRUSTEES SHALL CONSIST OF TWO SISTERS OF MERCY, THE PRESIDENT OF THE UNIVERSITY, AND THE BISHOP OF THE DIOCESE OF PITTSBURGH OR HIS DESIGNEE. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBER HAS THE RIGHT TO APPROVE THE FOLLOWING ACTIONS TO THE EXTENT SUCH ACTIONS ARE TAKEN BY THE BOARD OF TRUSTEE: APPROVE AMENDMENTS TO THE ARTICLES OF INCORPORATION; APPROVE THE ADOPTION AND AMENDMENT TO THE PHILOSOPHY AND MISSION; APPROVE THE INCURRENCE BY THE UNIVERSITY OF ANY DEBT, AND ANY SALE, TRANSFER, LONG-TERM LEASE OR ENCUMBRANCE OF ANY REAL OR PERSONAL PROPERTY, TANGIBLE OR INTANGIBLE, OF THE UNIVERSITY OUTSIDE THE ORDINARY COURSE OF BUSINESS ONLY TO THE EXTENT SUCH APPROVAL IS REQUIRED UNDER CANON LAW; APPROVE ANY MERGER, CONSOLIDATION, DISSOLUTION, PARTNERSHIP, JOINT VENTURE, TRANSFER OF SUBSTANTIALLY ALL THE ASSETS, OR OTHER FUNDAMENTAL TRANSACTION WITHIN THE CONTEMPLATION OF THE PENNSYLVANIA NONPROFIT CORPORATION LAW, OF OR BY THE UNIVERSITY TO THE EXTENT REQUIRED BY CANON LAW AND ANY ACTION WHICH WOULD INVOLVE MERGER CONSOLIDATION, DISSOLUTION, PARTNERSHIP, JOINT VENTURE, TRANSFER OF SUBSTANTIALLY ALL THE ASSETS, OR OTHER FUNDAMENTAL TRANSACTION WITHIN THE CONTEMPLATION OF THE PENNSYLVANIA NONPROFIT CORPORATION LAW, OF OR BY ANY SUBORDINATION OR SUBSIDIARY ORGANIZATION OF THE UNIVERSITY TO THE EXTENT REQUIRED BY CANON LAW. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS REVIEWED BY THE MANAGEMENT AND SUBMITTED TO THE AUDIT COMMITTEE FOR REVIEW AND APPROVAL. ONCE THE AUDIT COMMITTEE APPROVES THE SUBMITTED FORM 990, IT IS SUBMITTED TO THE BOARD OF TRUSTEES FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C THE UNIVERSITY'S PRESIDENT IS RESPONSIBLE FOR MONITORING COMPLIANCE WITH THE EFFECTIVENESS OF THE UNIVERSITY'S CONFLICT AND DISCLOSURE PROCEDURES AND SHALL PROVIDE REGULAR REPORTS TO THE UNIVERSITY'S EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. AS PART OF SUCH RESPONSIBILITIES, THE UNIVERSITY'S TREASURER SHALL UNDERTAKE OR SUPERVISE THE UNDERTAKING OF THE FOLLOWING ACTIONS: 1.ANNUALLY PREPARE THE LIST OF COVERED PERSONS WHO SHALL BE SUBJECT TO THE REPORTING REQUIREMENTS OF THE FORM; 2.SUPERVISE THE DISTRIBUTION, COLLECTION AND REVIEW OF FORMS; 3.PREPARE LISTS TO TRACK AND ORGANIZE THE INFORMATION GATHERED ON THE FORMS SUBMITTED AND TAKE OTHER NECESSARY MEASURES TO FACILITATE THE TIMELY IDENTIFICATION OF CONFLICTS AND ACCURATE REPORTING ON THE UNIVERSITY'S ANNUAL INFORMATION RETURNS; 4.IDENTIFY, ADDRESS AND REPORT TO THE EXECUTIVE COMMITTEE INSTANCES OF NONCOMPLIANCE WITH ANY OF THE UNIVERSITY'S CONFLICT AND DISCLOSURE PROCEDURES; 5.WORK WITH THE PRESIDENT TO MAKE A FINAL DETERMINATION OF WHETHER A CONFLICT OF INTEREST MAY EXIST, OR PRESENT THE QUESTION TO THE EXECUTIVE COMMITTEE FOR A FINAL DETERMINATION; 6.MONITOR PROCEDURES TO ENSURE THAT ONCE A CONFLICT OF INTEREST IS IDENTIFIED, PROCEEDINGS COMPLY WITH THE PROCEDURES SET FORTH IN THE UNIVERSITY'S CONFLICT OF INTEREST POLICY; AND 7.ADDRESS ANY DEFICIENCIES OR MEASURES FOR IMPROVEMENT OF THE UNIVERSITY'S CONFLICT AND DISCLOSURE PROCEDURES WITH THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 GOVERNANCE COMMITTEE: THE GOVERNANCE COMMITTEE SHALL BE THE AUTHORIZED COMMITTEE OF THE BOARD OF TRUSTEES TO REVIEW COMPENSATION. NO MEMBER OF THE GOVERNANCE COMMITTEE MAY HAVE A CONFLICT OF INTEREST WITHIN THE MEANING OF THE APPLICABLE TREASURY REGULATIONS UNDER SECTION 4958 OF THE INTERNAL REVENUE CODE OF 1986. THE GOVERNANCE COMMITTEE SHALL DOCUMENT ITS DECISIONS WITH RESPECT TO COMPENSATION AS REQUIRED BY THE APPLICABLE TREASURY REGULATIONS UNDER SECTION 4958 OF THE INTERNAL REVENUE CODE OF 1986. THE ACTIONS OF THE GOVERNANCE COMMITTEE ARE INTENDED TO QUALIFY UNDER THE REBUTTABLE PRESUMPTION PROVISIONS IN SECTION 4958 OF THE INTERNAL REVENUE CODE OF 1986. PRESIDENT'S COMPENSATION: THE GOVERNANCE COMMITTEE OF THE BOARD OF TRUSTEES SHALL BE RESPONSIBLE FOR DETERMINING ALL ELEMENTS OF THE COMPENSATION PACKAGE OF THE PRESIDENT OF THE UNIVERSITY, AS SET FORTH IN THE CONTRACT OF EMPLOYMENT AT THE TIME OF INITIAL HIRE AND IN SUBSEQUENT CONTRACTS AND ANY AMENDMENTS TO THOSE CONTRACTS. OTHER SENIOR EXECUTIVES COMPENSATION: A. THE PRESIDENT OF THE UNIVERSITY IS RESPONSIBLE FOR RECOMMENDING THE COMPENSATION PACKAGE OF NEWLY HIRED PROVOST AND VICE PRESIDENT OF FINANCE AND OPERATIONS, AS WELL AS RECOMMENDING ANNUALLY ANY CHANGES IN BASE SALARY OR ANY OTHER ELEMENTS OF THE COMPENSATION PACKAGE AS SET FORTH IN THEIR CONTRACTS OF EMPLOYMENT. B. THE GOVERNANCE COMMITTEE IS RESPONSIBLE FOR REVIEWING AND APPROVING THE COMPENSATION FOR THESE SENIOR EXECUTIVES. REPORT TO THE BOARD OF TRUSTEES: THE GOVERNANCE COMMITTEE SHALL PROVIDE A WRITTEN REPORT TO THE BOARD OF TRUSTEES, NO LATER THAN THE NEXT REGULARLY SCHEDULED MEETING OF THE BOARD FOLLOWING GOVERNANCE COMMITTEE ACTION ON THE COMPENSATION OF ANY SENIOR EXECUTIVE. THE REPORT SHALL REFLECT BASE SALARY AND ALL OTHER ELEMENTS FOR SENIOR EXECUTIVE COMPENSATION, AS WELL AS A SUMMARY OF THE CRITERIA AND PROCESSES USED TO MAKE THE COMPENSATION DECISIONS AND TO ASSURE THAT THE COMPENSATION IS "REASONABLE" AND NOT "EXCESSIVE" WITHIN IRS POLICY AND CRITERIA. RELIANCE ON COMPARABILITY DATA DERIVED FROM MARKET REVIEW AND SELECTION OF PEER INSTITUTIONS: IN DETERMINING AND APPROVING COMPENSATION FOR SENIOR EXECUTIVES AND TO ASSIST IN VALIDATING THE REASONABLENESS OF COMPENSATION, THE GOVERNANCE COMMITTEE SHALL RELY ON COMPARABILITY DATA DERIVED FROM A REVIEW OF THE MOST CURRENT INFORMATION AVAILABLE AS TO COMPENSATION LEVELS FOR SENIOR EXECUTIVES AT PEER INSTITUTIONS, TAKING INTO ACCOUNT THAT AVAILABLE INFORMATION IS GENERALLY FOR THE PRIOR FISCAL OR ACADEMIC YEARS. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST BY THE PUBLIC AT THE CORPORATE ADDRESS. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 2,012,117. FORM 990, PART XII, QUESTION 2C: OVERSIGHT OF FINANCIAL STATEMENT AUDIT: THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AUDITED BY AN INDEPENDENT ACCOUNTING FIRM. IN ADDITION, THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES THE RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND ITS SELECTION OF THE INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART VII: EMERITUS TRUSTEES: THE FOLLOWING INDIVIDUALS SERVE AS EMERITUS TRUSTEES OF THE CARLOW UNIVERSITY WITH NO VOTING POWERS IN MEETINGS OF THE BOARD OF TRUSTEES: PRESIDENTS EMERITAE - GRACE ANN GEIBEL, RSM, PHD; JANE SCULLY, RSM. TRUSTEES EMERITUS - JUDITH M. DAVENPORT, DMD; THOMAS J. DONNELLY, ESQ; ANNA MARIE GOETZ, RSM; HELEN HANNA CASEY; ELSIE H. HILLMAN; KEVIN P. KEARNS, PHD; JANE SCULLY, RSM; MARY ANN SESTILI, PHD; REGINA D. STOVER; DAVID R. WILLIAMS. PITTSBURGH COUNCIL ON HIGHER EDUCATION 201 WOOD STREET BOX 647 PITTSBURGH PA 152221912 237303727 PROVIDE A MEANS FOR SHARING RESOURCES, INSIGHTS, AND INFORMATION PA 501(C)(3) 509(A)(3) N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0