2011-05-16T12:48:05-05:00 2010-06-30 ParenteBeard LLC 1650 Market Street Suite 4500 Philadelphia PA 19103 990 2009-07-01 231352665 Delaware Valley College of Science and Agriculture DELA 2154894898 700 East Butler Ave Doylestown PA 189012697 Arthur Glass 2154894898 2011-05-19 1 Julius Green CPA 2159720701 2009 2016-02-24 21:20:13Z ARTHUR GLASS 700 East Butler Ave Doylestown PA 189012697 74129682 0 X www.delval.edu X 1896 PA A PRIVATE FOUR-YEAR COLLEGE PROVIDING HIGHER EDUCATION TO INDIVIDUALS SEEKING ADVANCEMENT. 26 26 1400 91 0 0 3612905 2141364 46983799 50132913 -2149935 605462 10647064 11586595 59093833 64466334 17546456 18358231 0 24691834 25993159 0 859790 18734512 18470662 60972802 62822052 -1878969 1644282 71674454 69859576 41080454 37002492 30594000 32857084 We are inspired by the ideals of our founder who, in 1896, emphasized respect for all people and ideas, who honored knowledge with practice, progress and the common good. Our historical commitment to experiential learning integrates theory and practice and prepares undergraduate and graduate students to meet the challenges of a complex global environment and to engage in lifelong learning. We provide students with the requisite skills and a spirit of inquiry that enrich and inform their lives, prepare them to pursue meaningful careers, and fulfill societal, community and family responsibilities. 0 0 55142001 18358231 50094648 Delaware Valley College (the "College") operates a private coeducational four-year institution located in Doylestown, Bucks County, Pennsylvania. The College was founded in 1896 and currently enrolls over 1,600 full-time undergraduate students. The College focus is in the areas of high-science, agriculture, biological and physical sciences, liberal arts, teacher education and business. Besides its full-time undergraduate programs, the College offers associate of science degree programs and continuing education programs including an evening college, a weekend college and summer sessions. In addition, the college offers three graduate education degrees: a Master of Science degree in Educational Leadership, a Master of Business Administration degree in Food and Agribusiness and a general Master of Business Administration degree. 55142001 1 1 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 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 75 0 1 1400 1 0 0 0 0 0 1 1 0 0 0 26 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X Arthur Glass VP Finance & Admin 2154892456 700 EAST BUTLER AVE DOYLESTOWN PA 18901 William Bartles 0.30 X X 0 0 0 Dr Baruch Blumberg 0.30 X 0 0 0 Martin Brooks 0.30 X 0 0 0 Thomas Clemens 0.30 X 0 0 0 Dr Joshua Feldstein 0.30 X 0 0 0 Raymond Funkhouser 0.30 X 0 0 0 Edward Gastineau 0.30 X 0 0 0 Arthur D Hershey 0.30 X 0 0 0 Patricia Hilton 0.30 X 0 0 0 Dr Jere Hohmann 0.30 X X 0 0 0 Dr Kevin L Keim 0.30 X 0 0 0 Jean Work Kenneally 0.30 X 0 0 0 Joseph C Krauskopf 0.30 X 0 0 0 Robert A Lipinski 0.30 X 0 0 0 Dr Morton Mandell 0.30 X 0 0 0 Gerard Marini 0.30 X 0 0 0 Michael Moss 0.30 X 0 0 0 William Mullin 0.30 X 0 0 0 Michael O'Connor 0.30 X 0 0 0 Richard Reif 0.30 X 0 0 0 Donald Richardson 0.30 X 0 0 0 Rabbi Lance Sussman 0.30 X 0 0 0 Ron Thoma 0.30 X 0 0 0 Dr James Trainer 0.30 X X 0 0 0 Dr Susan Ward 0.30 X 0 0 0 William Wilson 0.30 X 0 0 0 Joseph S Brosnan 55.00 X 276707 0 27182 Arthur Glass 40.00 X 185176 0 12425 Dorothy Prisco 40.00 X 144144 0 13346 Robert J Yapsuga 40.00 X 138045 0 17587 Joseph Erckert 40.00 X 143855 0 10421 Donald S Feldscher 40.00 X 128374 0 17067 Lawrence Hepner 40.00 X 125844 0 12637 1142145 0 110665 13 0 1 0 SODEXHO INC & AFFILIATES 4880 PAYSHERE CIRCLE CHICAGO IL 60674 FOOD SERVICE PROVIDER 2533646 DELRAN BUILDERS COMPANY 7909 FLOURTOWN AVE WYNDMOOR PA 19038 CONSTRUCTION SERVICES 202683 Premier Communications 3907 Brandon Ave roanoke VA 24018 education consultants 148685 ADAMS BICKEL ASSOCIATES 3770 RIDGE PIKE COLLEGEVILLE PA 19426 ARCHITECT & ENGINEER SERVICES 142873 Art & Science Group LLC 6115 Falls Road Suite 101 Baltimore MD 21209 Education consultants 122174 7 80799 711127 1349438 203231 2141364 Tuition and Fees 611310 50132913 50132913 50132913 497815 497815 118533 39476 79057 79057 79057 8786245 8662970 15628 123275 -15628 107647 107647 51149 80799 73659 -22510 -22510 1304134 871615 432519 432519 Dining Services INCOME 722210 5335940 5335940 Residence Halls 611310 4769825 4769825 PRODUCTION UNITS FARM 900099 566795 566795 424969 -38265 463234 11097529 64466334 50094648 0 12230322 18358231 18358231 501490 501490 19703314 16520921 2724189 458204 1024469 864478 136015 23976 3295300 2707067 513153 75080 1468586 1203182 232034 33370 200476 200476 68425 68425 91173 91173 2051617 1341152 589582 120883 693789 681332 12457 1674209 1358793 272853 42563 1543382 1543382 374691 310392 47604 16695 18241 17284 957 1729182 1605939 123243 2709001 2082200 626801 493884 492684 1200 Meals 2364456 2317484 41878 5094 Equipment & Repairs 1857646 1739801 115483 2362 Livestock expenses 477111 477111 Events 399809 302914 28999 67896 BAD DEBT EXPENSE 375488 375488 1348082 1126481 209134 12467 62822052 55142001 6820261 859790 100736 236669 1194496 575168 465983 167694 1981704 1306687 833893 783120 1028622 914132 83008346 37870234 46259343 45138112 13884792 14893929 5643911 5564499 280974 279566 71674454 69859576 3335840 4029886 1558588 990132 27943374 27036195 1919002 1278978 3800000 1200000 2523650 2467301 41080454 37002492 X 23238182 25351388 3027521 2987509 4328297 4518187 30594000 32857084 71674454 69859576 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 2 358.00 0 0 0 1 0 0.00 0 1 13255402 331778 1146552 217976 70407 91173 14354176 16538121 506986 -3273396 228043 202378 85888 13255402 0.56000 0.32000 0.12000 0 0 2994337 2994337 60363827 24841447 35522380 17718552 12772797 4945755 1931630 255990 1675640 45138112 BENEFICIAL INTEREST IN BUCKS COUNTY BIOTECHNOLOGY CENTER 3399162 C STUDENT LOANS RECEIVABLE 2165337 C 5564499 FUNDS HELD IN CUSTODY FOR OTHERS 616092 REFUNDABLE ADVANCES FOR LOAN PROGRAM 1851209 2467301 64466334 62822052 1644282 618802 618802 2263084 48566420 618802 -17519094 -16900292 65466712 -1000378 -1000378 64466334 46303336 1000378 1000378 45302958 17519094 17519094 62822052 Part II, Line 9: Description of How Organization Reports Conservation Easements: The College owns approximately 358 acres of land in Bucks and Montgomery counties under agricultural conservation easements pursuant to the Agricultural Area Security Law. Under these agricultural conservation easements, the College's use of the land is limited to the production of crops, livestock and livestock products, and other agricultural production. Part V, Line 4: Description of Intended Use of Endowment Funds: The use of endowment funds is based on the restriction placed by the donor. Any board-designated quasi-endowment funds are used primarily for student scholarships. Part X: Description of Uncertain Tax Positions Under FIN 48: The College follows the Financial Accounting Standards Board ("FASB") guidance that requires a tax position to be recognized or derecognized based on a "more likely than not" threshold. The College does not believe its financial statements include any uncertain tax positions. The College's policy is to recognize interest related to unrecognized tax benefits in interest expense and penalties in operating expenses. No interest or penalties were recognized in 2010 or 2009. Part XII, Line 2d - Other Adjustments: SCHOLARSHIP EXPENSE: -17519094. Part XII, Line 4b - Other Adjustments: COST OF GOODS SOLD: -871615. Rental EXPENSE: -39476. LOSS ON SALE OF ASSETS: -15628. SPECIAL EVENTS EXPENSE: -73659. Part XIII, Line 2d - Other Adjustments: COST OF GOODS SOLD: 871615. RENTAL EXPENSE: 39476. LOSS ON SALE OF ASSETS: 15628. SPECIAL EVENTS EXPENSE: 73659. Part XIII, Line 4b - Other Adjustments: SCHOLARSHIP EXPENSE: 17519094. 1 1 1 THE NON-DISCRIMINATION POLICY OF THE COLLEGE IS INCLUDED IN ALL EXTERNALLY TARGETED PUBLICATIONS, THE COLLEGE CATALOG AND THE WEBSITE. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 THE COLLEGE RECEIVES FEDERAL FUNDS UNDER THE PERKINS LOAN, PELL GRANT, SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT, ACADEMIC COMPETITIVENESS GRANT, NATIONAL SCIENCE AND MATHEMATICS ACCESS TO RETAIN TALENT GRANT, COLLEGE WORK STUDY, LEGACY/TALENT SEARCH PROGRAMS AND OTHER MISCELLANEOUS FEDERAL RESEARCH AND DEVELOPMENT GRANTS. ADDITIONALLY, THE COLLEGE RECEIVES VARIOUS GRANTS FROM THE COMMONWEALTH OF PENNSYLVANIA AND ITS POLITICAL SUBDIVISIONS. 1 DVC Golf Classic 131948 80799 51149 16654 25172 16058 1330 14445 131948 80799 51149 16654 25172 16058 1330 14445 73659 -22510 1 VARIOUS STUDENT SCHOLARSHIPS 1400 18358231 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: Need-based grants awarded based on Financial Aid needs analysis. Other grants/scholarships awarded based on meeting requirements set forth by the donor. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 Joseph S Brosnan 252035 0 0 0 24672 0 19849 0 7333 0 303889 0 0 0 Arthur Glass 182754 0 0 0 2422 0 10851 0 1574 0 197601 0 0 0 Dorothy Prisco 140400 0 0 0 3744 0 11232 0 2114 0 157490 0 0 0 Robert J Yapsuga 136159 0 0 0 1886 0 10893 0 6694 0 155632 0 0 0 Joseph Erckert 141215 0 0 0 2640 0 8473 0 1948 0 154276 0 0 0 Part I, Line 1a Joseph Brosnan, the College President, is required to reside on campus as a convenience to the college and as a condition of employment. As such, this benefit is not included in his taxable compensation. Pennsylvania Higher Education Facilities Authority 232243852 70917PDCO 2003-12-18 12479239 construction/equipment/furnishings for 200-bed dormitory & improvements 0 0 Pennsylvania Higher Education Facilities Authority 232243852 70917PDXO 2004-08-25 5314995 construction/equipment/furnishings for 100-bed dormitory & improvements 0 0 12479239 977503 11501736 2005 0 0 1 1 5314995 312776 5002219 2006 0 0 1 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 X 19 2105 FMV & APPRAISAL X 327 FMV X 4 82629 FMV X VARIOUS SUPPLIES & EQUIPMENT 762 34937 FMV X FUNDRAISING GIFTS 86 14541 FMV X ANIMALS 26 68692 FMV & APPRAISAL 2 0 1 0 Method for Determining Number of Contributors: Part I, Column (b): The number of contributions reported in Part I, column (b) is based on the number of items donated. Form 990, Part VI, Section B, line 11 The form will be reviewed by the Investment and Finance Committee of the Board and the form will be made available to the entire Board of Trustees prior to submission to the IRS. Form 990, Part VI, Section B, line 12c The Conflict of Interest surveys are completed annually by the Board of Trustees and Delaware Valley College staff. These surveys are reviewed by senior management to determine if there is any potential conflict of interest. In connection with any actual or possible conflict of interest by the Board of Directors and officers, an interested person must disclose the existence of his or her financial interest and must be given the opportunity to disclose all material facts to the directors and members of committees with board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. If an employee has a vested interest in a firm that is doing business with the College, the employee must report the interest to the President and must not represent the College in transactions between the firm and the College. No employee can accept employment in any organization which conducts business with the College or is a College competitor. Faculty who teach part time at other educational institutions are not considered in violation of this policy. Violation of this policy will result in disciplinary action, up to and including discharge. Form 990, Part VI, Section B, line 15 The Executive Committee of the Board of Trustees uses a compensation consultant and independent compensation surveys to determine the President's compensation annually. The Executive Committee approves the compensation. The Executive Committee is comprised of independent members. Compensation for other officers and key employees are grouped with all other employees when determining compensation. The Board of Trustees approves all employee compensation and salary increases as part of the annual budget process. Form 990, Part VI, Section C, line 19 The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Form 990, Schedule J One employee who was paid under a retirement agreement which placed the employee over the $150,000 threshold was not disclosed on Form 990, Part VII or Schedule J. This agreement contains a confidentiality clause which indicates that the University is not permitted to disclose the terms of the agreement without risk of lawsuit. Schedule K Supplental Information Part II, line 5, Bond A: The amounts included in line 5 are as follows: Issuance Costs - $249,584 Credit Enhancement - $30,000 Capitalized Interest and Issuer Fee - $697,919 Part II, line 5, Bond B: The amounts included in line 5 are as follows: Issuance Costs - $106,205 Credit Enhancement - $10,997 Capitalized Interest and Issuer Fee - $195,574