2026-04-10T11:24:06-04:00 2025-05-31 832620517 KOHANSKI & CO PC 4 MEADOW AVENUE STE C SCRANTON PA 18505 990 2024-06-01 240795441 KEYSTONE COLLEGE KEYS 5709458000 ONE COLLEGE GREEN LA PLUME PA 18440 JOHN F PULLO PRESIDENT 5709458000 2026-04-10 true false KELLEY LINDSAY CPA P01441227 5709412248 2026-04-10 2024 2025-03-06 01:10:19Z X JOHN F PULLO ONE COLLEGE GREEN LA PLUME PA 18440 24599289 false X WWW.KEYSTONE.EDU X 1935 PA KEYSTONE COLLEGE EDUCATES STUDENTS IN A LIBERAL ARTS TRADITION THAT VALUES CIVILITY, INTEGRITY, AND CURIOUSITY, FOSTERING A GLOBAL PERSPECTIVE ON CULTURAL DIVERSITY, ENVIRONMENTAL SUSTAINABILITY, AND LIFE-LONG LEARNING. X 20 19 423 0 4320310 8253823 19586955 15878212 75143 124881 780779 342373 24763187 24599289 4703899 3563979 0 11944751 10086479 0 341627 14318851 11399397 30967501 25049855 -6204314 -450566 36217596 0 32765155 0 3452441 0 X KEYSTONE COLLEGE EDUCATES STUDENTS IN A LIBERAL ARTS TRADITION THAT VALUES CIVILITY, INTEGRITY, AND CURIOUSITY, FOSTERING A GLOBAL PERSPECTIVE ON CULTURAL DIVERSITY, ENVIRONMENTAL SUSTAINABILITY, AND LIFE-LONG LEARNING. false false 17441551 3563979 KEYSTONE COLLEGE IS A VIBRANT AND DIVERSE CAMPUS WHEREBY OUR GRADUATES ARE LIFE-LONG LEARNERS WHO ARE ACTIVELY ENGAGED, CONTRIBUTE TO THEIR COMMUNITIES, AND THRIVE IN THE WORLD. NEARLY 1,400 STUDENTS COME FROM NEARBY STATES SUCH AS NEW YORK, NEW JERSEY, AND MARYLAND, AS WELL AS NATIONALLY AND INTERNATIONALLY. KEYSTONE COLLEGE IS A FULLY ACCREDITED AND HIGHLY RESPECTED INSTITUTION OF HIGHER EDUCATION OFFERING ASSOCIATE, BACHELOR'S AND MASTER'S DEGREES. SEE OTHER PROGRAM DESCRIPTION. 17441551 true true false false false false false true false true false false false false false true true false true false false false false false false false false false true true false false false false false false false false false false false true false false false false false true 986 0 true 423 true false false false false false false false false false false false false false false X 20 19 false false false false false false false true true false false false true true true true true true true false X X JOHN F PULLO 5709458000 ONE COLLEGE GREEN LA PLUME PA 18440 JOHN F PULLO PRESIDENT 50.00 X X 154167 0 327 KIRBY K HICKEY CHAIRMAN 2.00 X X 0 0 0 MICHAEL NARCAVAGE III CHAIR ELECT 2.00 X X 0 0 0 JASON WASHO FIRST VICE C 2.00 X X 0 0 0 TIMOTHY WHITE SECRETARY 2.00 X X 0 0 0 TIM ATKINS TRUSTEE 2.00 X 0 0 0 JAMES B DAVIS TRUSTEE 2.00 X 0 0 0 MATTHEW S DOUGHERTY TRUSTEE 2.00 X 0 0 0 WYANE EVANS TRUSTEE 2.00 X 0 0 0 NATALIE GELB TRUSTEE 2.00 X 0 0 0 DAN HAGGERTY TRUSTEE 2.00 X 0 0 0 BRENDA K JOHNSON TRUSTEE 2.00 X 0 0 0 JOHN MANSUY TRUSTEE 2.00 X 0 0 0 JOHN S MORRISON JR TRUSTEE 2.00 X 0 0 0 DIANE C PAPARO TRUSTEE 2.00 X 0 0 0 CHRIS PARIS TRUSTEE 2.00 X 0 0 0 ROBERT H SWARTLEY TRUSTEE 2.00 X 0 0 0 PATRICK WALSH TRUSTEE 2.00 X 0 0 0 RICK WILBUR TRUSTEE 2.00 X 0 0 0 OWEN WOROZBYT TRUSTEE 2.00 X 0 0 0 154167 327 1 false true false SODEXO DINING SERVICES PO BOX 360170 PITTSBURGH PA 15251 FOOD SERVICES 915400 JAY CLAYTON 1006 CICERO DRIVE IRWIN PA 15642 CONSULTING 427332 SODEXO FACILITIES PO BOX 360170 PITTSBURGH PA 15251 GROUND/FACILITY 295000 JENZABAR 1450 TECHNOLOGY DRIVE HARRISONBURG VA 22802 TECHNOLOGY 182425 AA LIMOUSINE SERVICE 2148 HOWERTOWN RD NORTHAMPTON PA 18067 TRANSPORTATION 149725 7 1472582 6781241 8253823 TUITION AND FEES 12637500 12637500 ROOM & BOARD 3186659 3186659 AUXILLARY ENTERPRISES 54053 54053 15878212 124881 124881 18175 18175 18175 18175 OTHER SOURCES 324198 324198 324198 24599289 16327291 18175 3563979 3563979 7769120 6468745 1072843 227532 809037 673623 111720 23694 1508322 1255863 208285 44174 1927240 943505 983735 23760 23760 2788 -2434 1217 4005 203844 14706 189138 1235605 1044653 190952 431830 415860 15843 127 22188 21388 800 507675 507675 1929452 1929452 543786 40434 503352 OTHER 4435175 2841415 1551665 42095 OTHER FINANCIAL AID 136054 136054 25049855 17441551 7266677 341627 3561708 1427270 21028 1162244 47596 146552 23085276 1343033 819804 4603085 36217596 0 6843061 3648834 20975270 1297990 32765155 0 X -6356815 9809256 3452441 0 36217596 0 X -450566 92173 -3094048 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X false 6153853 271750 100839 121365 6405077 5888051 150271 126934 11403 6153853 5950250 69215 117045 248459 5888051 6451940 120319 -223512 250997 147500 5950250 6315261 144139 181900 185380 3980 6451940 false false X 22725352 92173 1597869 1690042 21035310 3563979 3563979 24599289 21485876 21485876 3563979 3563979 25049855 SCHEDULE D, PAGE 2, PART III, LINE 4 WE OWN A COLLECTION OF ANTIQUE, ORNAMENTAL GLASS SERVING PIECES. THESE ITEMS PROVIDE TANGIBLE EXAMPLES OF A FINE ART PRACTICE THAT IS BECOMING SCARCELY PRACTICED. THIS COLLECTION ADDS CONSIDERABLE VALUE TO OUR STUDENTS' EDUCATION EXPERIENCE, PARTICULARLY THOSE WHO STUDY AND PRACTICE THE ART OF GLASS-BLOWING IN OUR ON-CAMPUS GLASS STUDIO. WE ALSO MAINTAIN A COLLECTION OF VARIOUS WORKS OF VISUAL ART, INCLUDING PIANTINGS, DRAWINGS AND SCULPTURES, THAT ENHANCE OUR STUDENTS' EDUCATIONAL EXPERIENCE AND ADD VALUE TO OUR CAMPUS AESTHETIC. OUR COLLECTIONS WERE TRANSFERED TO KEYSTONE COLLEGE LLC ON MAY 30, 2025. SCHEDULE D, PAGE 2, PART V, LINE 4 EARNINGS ON ENDOWMENT FUNDS ARE USED TO SUPPORT SCHOLARSHIPS FOR STUDENTS, FACULTY SALARIES, AND AWARDS. THE ENDOWMENT WAS TRANSFERRED TO KEYSTONE COLLEGE, LLC ON MAY 30, 2025. SCHEDULE D, PAGE 3, PART X THE COLLEGE QUALIFIES AS A TAX-EXEMPT, NOT-FOR-PROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). ACCORDINGLY, THERE WAS NO PROVISION FOR FEDERAL OR STATE INCOME TAXES. THE COLLEGE ACCOUNTS FOR UNCERTAINTIES IN INCOME TAXES IN ACCORDANCE WITH AUTHORITATIVE GUIDANCE, WHICH PRESCRIBES A RECOGNITION THRESHOLD OF MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MANAGEMENT HAS DETERMINED THAT THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD AT MAY 31, 2025. THE COLLEGE'S POLICY IS TO RECOGNIZE INTEREST EXPENSE RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSES AND PENALTIES (IF ANY) IN OPERATING EXPENSES. SCHEDULE D, PAGE 4, PART XI, LINE 2D UNREALIZED GAIN ON EXTINGUISHMENT OF DEBT 1,547,967 CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST 49,902 SCHEDULE D, PAGE 4, PART XI, LINE 4B SCHOLARSHIPS NETTED WITH TUITION AND FEES 3,563,979 SCHEDULE D, PAGE 4, PART XII, LINE 4B SCHOLARHIPS NETTED WITH TUITION AND FEES 3,563,979 true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3 WE SOLICIT STUDENTS THROUGHOUT THE YEAR AND MAKE THEM AWARE OF THE POLICY THROUGH OUR WRITTEN ADMISSIONS MATERIALS, OUR CATALOGUE AND OUR WEBSITE. SCHEDULE E, LINE 6 KEYSTONE COLLEGE PARTICIPATES IN THE TITLE IV FEDERAL STUDENT ASSISTANCE PROGRAMS. THE COLLEGE ALSO PARTICIPATES IN THE COMMONWEALTH OF PENNSYLVANIA STATE GRANT PROGRAM AND INSTITUTIONAL ASSISTANCE GRANT PROGRAM. false SCHOLARSHIPS 627 3563979 SCHEDULE I, PAGE 1, PART I, LINE 2 ALL STUDENTS APPLYING FOR FINANCIAL ASSISTANCE ARE REQUIRED TO SUBMIT THE FREE APPLICATION FOR FEDERAL STUDENT AID ("FAFSA"). THE STUDENT FINANCIAL AID OFFICE REVIEWS THE RESULTS OF FAFSA, WHICH DICTATES WHAT AND HOW MUCH FEDERAL FUNDING THE INDIVIDUAL STUDENT IS ELIGIBLE FOR. IF THE STUDENT IS DETERMINED TO BE IN COMPLIANCE WITH ALL FEDERAL REGULATIONS, AS DETERMINED BY THE DEPARTMENT OF EDUCATION, THE STUDENT FINANCIAL AID OFFICE AWARDS THE STUDENT THE APPROPRIATE FUNDING. STUDENT FILES REGARDING ELIGIBILITY ARE MAINTAINED BY THE STUDENT FINANCIAL AID OFFICE. X X X false false false false false false false false false JOHN F PULLO PRESIDENT 154167 327 154494 CASH AND CASH EQUIV. 2025-05-30 1592835 392376876 KEYSTONE COLLEGE LLC ONE COLLEGE GREEN LAPLUME PA 18440 501(C)(3) SAVINGS AND TEMP INVES 2025-05-30 2116472 392376876 KEYSTONE COLLEGE LLC ONE COLLEGE GREEN LAPLUME PA 18440 501(C)(3) PLEDGES AND GRANTS REC 2025-05-30 1494406 392376876 KEYTONE COLLEGE LLC ONE COLLEGE GREEN LAPLUME PA 18440 501(C)(3) ACCOUNTS RECEIVABLE 2025-05-30 2558501 392376876 KEYSTONE COLLEGE LLC ONE COLLEGE GREEN LAPLUME PA 18440 501(C)(3) INVENTORY 2025-05-30 47596 392376876 KEYSTONE COLLEGE LLC ONE COLLEGE GREEN LAPLUME PA 18440 501(C)(3) PREPAID EXPENSES 2002-05-30 124472 392376876 KEYSTONE COLLEGE LLC ONE COLLEGE GREEN LAPLUME PA 18440 501(C)(3) STUDENT LOANS REC 2025-05-30 811944 392376876 KEYSTONE COLLEGE LLC ONE COLLEGE GREEN LAPLUME PA 18440 501(C)(3) LAND, BUILD & EQUIP 2025-05-30 21155824 392376876 KEYSTONE COLLEGE LLC ONE COLLEGE GREEN LAPLUME PA 18440 501 (C)(3) BENE INT PERPET TRUST 2025-05-30 2496059 392376876 KEYSTONE COLLEGE LLC ONE COLLEGE GREEN LAPLUME PA 18440 501(C)(3) COLLECTIONS 2025-05-30 360954 392376876 KEYSTONE COLLEGE LLC ONE COLLEGE GREEN LAPLUME PA 18440 501(C)(3) true true false false SCHEDULE N, PART II, PAGE 2, LINE 2E THE PRESIDENT OF KEYSTONE COLLEGE, INC., JOHN F. PULLO, BECAME THE PRESIDENT OF KEYSTONE COLLEGE, LLC. THE BOARD OF TRUSTEES OF KEYSTONE COLLEGE, INC. BECAME MEMBERS OF THE BOARD OF TRUSTEES OF KEYSTONE COLLEGE, LLC. SCHEDULE N IN AUGUST, 2024, KEYSTONE COLLEGE, INC. ENTERED IN TO A MERGER AGREEMENT WITH THE WASHINGTON INSTITUTE FOR EDUCATION AND RESEARCH, INC. (WIER) WIER, A PENNSYLVANIA NONPROFIT CORPORATION, OPERATES FOR THE PURPOSE OF FURTHERING, FUNDING, PROMOTING, AND SUPPORTING POST-SECONDARY EDUCATION. ON SEPTEMBER 13, 2024, WIER FORMED KEYSTONE COLLEGE, LLC., A WHOLLY OWNED PENNSYLVANIA LIMITED LIABILITY COMPANY TO SUPPORT ITS MISSION. ON MAY 30, 2025, KEYSTONE COLLEGE, INC. AND KEYSTONE COLLEGE, LLC MERGED, WITH KEYSTONE COLLEGE, LLC AS THE SURVIVING ENTITY. IN ADDITION TO THE ASSETS OF KEYSTONE COLLEGE, INC., TOTAL LIABILITIES OF 28,817,793 WERE TRANSFERED TO KEYSTONE COLLEGE, LLC. ON THE DATE OF THE MERGER. FORM 990, PAGE 2, PART III, LINE 4D SEE OTHER PROGRAM DESCRIPTION. FORM 990, PAGE 6, PART VI, LINE 11B THE FINAL FORM 990 IS REVIEWED BY MEMBERS OF THE INVESTMENT AND FINANCE COMMITTEE OF THE BOARD OF TRUSTEES PRIOR TO FILING. THE FULL BOARD IS PROVIDED WITH ACCESS TO THE FORM 990 VIA THE BOARD PORTAL PRIOR TO FILING WITH THE IRS. FORM 990, PAGE 6, PART VI, LINE 12C THE COLLEGE REQUIRES ALL COVERED PARTIES SUCH AS TRUSTEES, KEY EMPLOYEES AND OFFICERS TO COMPLETE CONFLICT QUESTIONNAIRES ON AN ANNUAL BASIS. THE VP OF FINANCE AND ADMINISTRATION COLLECTS AND REVIEWS THESE QUESTIONNAIRES AND REPORTS ANY CONFLICTS TO THE PRESIDENT AND CHAIRMAN OF THE BOARD. BOARD MEMBERS ABSTAIN FROM VOTING WHEN CONFLICTS ARISE. IN ADDITION, THE VICE PRESIDENT OF FINANCE & ADMINISTRATION REVIEWS THE APPROVED VENDOR LIST ON AN ANNUAL BASIS NOTING ANY POTENTIAL CONFLICTS WHICH MAY HAVE BEEN IMPROPERLY DISCLOSED. THE CONFLICT OF INTEREST POLICY ADDRESSES FAMILY AND BUSINESS RELATIONSHIPS AS A SOURCE OF POTENTIAL CONFLICTS. FORM 990, PAGE 6, PART VI, LINE 15A COMPENSATION FOR THE CHIEF EXECUTIVE OFFICER AND THE PRESIDENT WAS DETERMINED BY THE CHAIRMAN OF THE BOARD OF TRUSTEES, AN INDEPENDENT TRUSTEE. THE CHAIRMAN CONSULTED WITH OTHER INDEPENDENT MEMBERS OF THE BOARD OF TRUSTEES, AT HIS DISCRETION, AND REVIEWED EXECUTIVE COMPENSATION DATA PROVIDED BY THE VICE PRESIDENT OF FINANCE AND ADMINISTRATION. THIS INFORMATION INCLUDED, BUT WAS NOT LIMITED TO, INDUSTRY SURVEY DATA FROM THE CHRONICLE OF HIGHER EDUCATION, NACUBO, YAFFE AND COMPANY, AND AICUP. COMPENSATION FOR OTHER KEY EMPLOYEES WAS DETERMINED BY THE PRESIDENT, WHO CONSULTED WITH MEMBERS OF THE BOARD OF TRUSTEES, AT HIS DISCRETION. HE ALSO REVIEWED INFORMATION FROM INDUSTRY SOURCES, SUCH AS THOSE LISTED ABOVE AND WITH THE CHIEF HUMAN RESOURCES OFFICER. SALARY DECISIONS ARE DOCUMENTED IN THE BOARD COMMITTEE MINUTES. FORM 990, PAGE 6, PART VI, LINE 15B COMPENSATION FOR THE CHIEF EXECUTIVE OFFICER AND THE PRESIDENT WAS DETERMINED BY THE CHAIRMAN OF THE BOARD OF TRUSTEES, AN INDEPENDENT TRUSTEE. THE CHAIRMAN CONSULTED WITH OTHER INDEPENDENT MEMBERS OF THE BOARD OF TRUSTEES, AT HIS DISCRETION, AND REVIEWED EXECUTIVE COMPENSATION DATA PROVIDED BY THE, THE VICE PRESIDENT OF FINANCE AND ADMINISTRATION. THIS INFORMATION INCLUDED, BUT WAS NOT LIMITED TO, INDUSTRY SURVEY DATA FROM THE CHRONICLE OF HIGHER EDUCATION, NACUBO,YAFFE AND COMPANY, AND AICUP. COMPENSATION FOR OTHER KEY EMPLOYEES WAS DETERMINED BY THE PRESIDENT, WHO CONSULTED WITH MEMBERS OF THE BOARD OF TRUSTEES, AT HIS DISCRETION. HE ALSO REVIEWED INFORMATION FROM INDUSTRY SOURCES, SUCH AS THOSE LISTED ABOVE AND WITH THE CHIEF HUMAN RESOURCES OFFICER. SALARY DECISIONS ARE DOCUMENTED IN THE BOARD COMMITTEE MINUTES. FORM 990, PAGE 6, PART VI, LINE 19 THE COLLEGE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9 CHANGE IN VALUE OF BENEFICIAL INTEREST IN TRUSTS 49,902 GAIN ON EXTIGUISHMENT OF DEBT 1,547,967 NET ASSETS TRANSFERED TO KEYSTONE COLLEGE, LLC -4,691,917 TOTAL -3,094,048