2026-05-15T18:46:28-05:00 2025-06-30 410746749 CLIFTONLARSONALLEN LLP TWO INTERNATIONAL PLACE 22ND FLOOR BOSTON MA 02110 990 2024-07-01 231352626 CHESTNUT HILL COLLEGE CHES 2152487163 9601 GERMANTOWN AVENUE PHILADELPHIA PA 19118 CONRAD CORPUS EXECUTIVE DIRECTOR AND CFO 2152487163 2026-05-15 1 1 LAURA J KENNEY P00202198 6177170831 2026-05-15 2024 2025-03-06 01:10:19Z BRIAN MCCLOSKEY 9601 GERMANTOWN AVENUE PHILADELPHIA PA 19118 54684899 0 X WWW.CHC.EDU X 1924 PA PRIVATE LIBERAL ARTS COLLEGE SPONSORED BY THE CONGREGATION OF THE SISTERS OF ST. JOSEPH OF PHILA. 25 24 695 30 878141 0 8366415 9013201 40846219 39476346 556804 3985905 1428212 1248371 51197650 53723823 17896921 16881805 0 0 16972150 16587332 0 0 1165992 17242829 20760607 52111900 54229744 -914250 -505921 88216633 89805763 31865170 35346018 56351463 54459745 X SEE SCHEDULE O.CHESTNUT HILL COLLEGE IS A PRIVATE INSTITUTION OF HIGHER EDUCATION SPONSORED BY THE CONGREGATION OF THE SISTERS OF SAINT JOSEPH. THE COLLEGE'S MISSION IS TO PROVIDE A HOLISTIC EDUCATION IN AN INCLUSIVE ACADEMIC COMMUNITY MARKED BY INTELLECTUAL EXCELLENCE, PERSONAL AND PROFESSIONAL GROWTH, SERVICE TO OTHERS, CONCERN FOR THE EARTH, AND A COMMITMENT TO REDUCING BARRIERS TO LEARNING. 1 0 30311665 12000 39476346 EDUCATION AND STUDENT SERVICE:THE COLLEGE PROVIDES UNDERGRADUATE AND GRADUATE INSTRUCTION GROUNDED IN THE LIBERAL ARTS AND PROFESSIONAL STUDIES, CONSISTENT WITH ITS MISSION TO EXPAND ACCESS TO EDUCATION AND REDUCE BARRIERS TO LEARNING THROUGH INCLUSIVE, STUDENT CENTERED ACADEMIC PROGRAMS. DURING THE FISCAL YEAR, THE COLLEGE ACHIEVED A SIGNIFICANT ACADEMIC MILESTONE WITH THE LAUNCH OF NEW NURSING DEGREE PATHWAYS, INCLUDING A TRADITIONAL BACHELOR OF SCIENCE IN NURSING (BSN) PROGRAM AND AN ACCELERATED BACHELOR OF SCIENCE IN NURSING (ABSN). (CONT'D ON SCHEDULE O.)THE LAUNCH WAS SUPPORTED BY A COMBINATION OF INSTITUTIONAL AND PHILANTHROPIC INVESTMENT AND REQUIRED THE DEVELOPMENT OF SPECIALIZED INSTRUCTIONAL AND CLINICAL LEARNING SPACE THROUGH THE REMODELING OF THE SUGARLOAF FACILITY, THE RECRUITMENT AND STAFFING OF NURSING FACULTY AND PROGRAM PERSONNEL, AND INITIAL PROGRAM OPERATIONS AND OUTREACH EFFORTS. TOTAL INVESTMENT ASSOCIATED WITH THE NURSING PROGRAM DURING FISCAL YEAR 2025 INCLUDED APPROXIMATELY $1,964,105 IN CONSTRUCTION IN PROGRESS RELATED TO FACILITY DEVELOPMENT, $554,459 IN SALARIES, BENEFITS, AND OTHER PROGRAMMATIC OPERATING COSTS, $252,228 IN BUILDING OPERATIONS AND MAINTENANCE, AND APPROXIMATELY $80,000 IN MARKETING AND STUDENT RECRUITMENT EFFORTS, REFLECTING THE SIGNIFICANT START-UP INVESTMENT REQUIRED TO ESTABLISH THE PROGRAM. THE PROGRAM ENROLLED AN INITIAL COHORT OF SIX STUDENTS DURING ITS FIRST YEAR OF OPERATION, GENERATING APPROXIMATELY $63,000 IN PROGRAM REVENUE.THE MONTESSORI PROGRAM OFFERED AT CHESTNUT HILL COLLEGE PROVIDES SPECIALIZED COURSEWORK AND HANDS-ON TRAINING DESIGNED TO PREPARE STUDENTS FOR CAREERS IN EARLY CHILDHOOD AND ELEMENTARY EDUCATION SETTINGS THAT UTILIZE THE MONTESSORI METHOD OF INSTRUCTION. THE CURRICULUM EMPHASIZES CHILD-CENTERED LEARNING, EXPERIENTIAL EDUCATION, AND THE DEVELOPMENT OF COGNITIVE, SOCIAL, AND EMOTIONAL SKILLS THROUGH STRUCTURED, DEVELOPMENTALLY APPROPRIATE ENVIRONMENTS.THE COLLEGE ALSO ENHANCED ITS GRADUATE BUSINESS EDUCATION OFFERINGS THROUGH ITS MASTER OF BUSINESS ADMINISTRATION (MBA) IN STRATEGIC MANAGEMENT BY PROVIDING CONCENTRATION OPTIONS DESIGNED TO SUPPORT PROFESSIONAL DEVELOPMENT AND CAREER ADVANCEMENT. CONCENTRATIONS INCLUDE ACCOUNTANCY, HEALTHCARE, AND MINISTRY LEADERSHIP, EACH INTEGRATING SPECIALIZED COURSEWORK WITHIN THE BROADER MANAGEMENT CURRICULUM.THE ACCOUNTANCY CONCENTRATION SUPPORTS ACADEMIC PREPARATION ALIGNED WITH PROFESSIONAL CERTIFICATION PATHWAYS AND ADVANCEMENT IN ACCOUNTING-RELATED ROLES. THE HEALTHCARE CONCENTRATION EMPHASIZES MANAGEMENT AND LEADERSHIP WITHIN HEALTHCARE ORGANIZATIONS, SERVING PROFESSIONALS ACROSS CLINICAL AND ADMINISTRATIVE DISCIPLINES. THE MINISTRY LEADERSHIP CONCENTRATION IS DESIGNED FOR INDIVIDUALS SERVING IN RELIGIOUS AND FAITH-BASED NONPROFIT ORGANIZATIONS AND INCORPORATES PRINCIPLES OF LEADERSHIP, ADMINISTRATION, AND STEWARDSHIP IN MISSION-DRIVEN ENVIRONMENTS.THESE CONCENTRATION OFFERINGS SUPPORT THE COLLEGE'S COMMITMENT TO FLEXIBLE ACADEMIC PATHWAYS, WORKFORCE READINESS, AND ALIGNMENT WITH DIVERSE STUDENT CAREER GOALS.CHESTNUT HILL COLLEGE OFFERS A RANGE OF BACCALAUREATE, GRADUATE, AND PROFESSIONAL PROGRAMS GROUNDED IN THE LIBERAL ARTS AND CAREER-FOCUSED DISCIPLINES. ACADEMIC OFFERINGS INCLUDE UNDERGRADUATE MAJORS SUCH AS BUSINESS, PSYCHOLOGY, AND EXERCISE SCIENCE, AS WELL AS GRADUATE PROGRAMS AND A DOCTORAL PROGRAM IN CLINICAL PSYCHOLOGY. THE COLLEGE ALSO OFFERS ACCELERATED ADULT DEGREE PROGRAMS AND CERTIFICATE PROGRAMS DESIGNED TO PROVIDE FLEXIBLE PATHWAYS FOR DEGREE COMPLETION AND PROFESSIONAL ADVANCEMENT.THE NURSING PROGRAMS ENROLLED AN INAUGURAL COHORT OF STUDENTS DURING THE YEAR, MARKING THE COMMENCEMENT OF INSTRUCTION AND TUITION BASED PROGRAM ACTIVITY. THESE EFFORTS REPRESENT A FOUNDATIONAL PHASE IN THE DEVELOPMENT OF THE COLLEGE'S NURSING PROGRAMS AND ADVANCE THE INSTITUTION'S LONG TERM ACADEMIC STRATEGY TO PREPARE STUDENTS FOR SERVICE ORIENTED PROFESSIONS AND REGIONAL WORKFORCE NEEDS. INSTRUCTIONAL PROGRAMS DURING THE YEAR CONTINUED TO INTEGRATE CLASSROOM, EXPERIENTIAL, AND CLINICAL LEARNING DESIGNED TO SUPPORT STUDENT SUCCESS, PROFESSIONAL PREPARATION, AND LIFELONG LEARNING.THE COLLEGE CONTINUES TO EVALUATE AND REFINE ITS ACADEMIC PROGRAM OFFERINGS TO ALIGN WITH STUDENT DEMAND, REGIONAL WORKFORCE NEEDS, AND INSTITUTIONAL STRATEGIC PRIORITIES.CHESTNUT HILL COLLEGE MAINTAINS A MONTESSORI EDUCATION PROGRAM AS PART OF ITS UNDERGRADUATE AND GRADUATE OFFERINGS. THE PROGRAM REMAINS AFFILIATED WITH THE AMERICAN MONTESSORI SOCIETY (AMS) AND ACCREDITED BY THE MONTESSORI ACCREDITATION COUNCIL FOR TEACHER EDUCATION (MACTE). THROUGH THIS PROGRAM, STUDENTS ENGAGE IN BOTH ACADEMIC STUDY AND SUPERVISED FIELD EXPERIENCES, SUPPORTING THE INTEGRATION OF THEORY AND PRACTICE AND PREPARING GRADUATES FOR PROFESSIONAL ROLES IN EDUCATIONAL ENVIRONMENTS THAT SERVE DIVERSE STUDENT POPULATIONS. THE PROGRAM CONTRIBUTES TO THE COLLEGE'S BROADER MISSION BY EXPANDING ACCESS TO INNOVATIVE TEACHING METHODOLOGIES, SUPPORTING WORKFORCE PREPARATION IN THE EDUCATION SECTOR, AND PROMOTING INCLUSIVE AND DEVELOPMENTALLY RESPONSIVE APPROACHES TO LEARNING.THE COLLEGE REMAINS COMMITTED TO IMPROVING THE EFFICIENCY AND EFFECTIVENESS OF ITS ACADEMIC PROGRAMS AND SERVICES THROUGH ONGOING ASSESSMENT AND PROGRAM REVIEW. PRIOR ACADEMIC RESTRUCTURING EFFORTS HAVE RESULTED IN INCREASED COLLABORATION AMONG FACULTY AND MORE EFFICIENT ADMINISTRATIVE OPERATIONS, AND THE COLLEGE CONTINUES TO MONITOR PROGRAM PERFORMANCE AND STUDENT OUTCOMES TO SUPPORT CONTINUOUS IMPROVEMENT.INSTRUCTIONAL DELIVERY CONTINUES TO INCLUDE IN-PERSON, HYBRID, AND ONLINE LEARNING MODALITIES SUPPORTED BY THE COLLEGE'S LEARNING MANAGEMENT SYSTEM. TECHNOLOGY PLATFORMS ARE USED TO SUPPORT BOTH ACADEMIC INSTRUCTION AND ENROLLMENT MANAGEMENT PROCESSES.ACADEMIC AND STUDENT SUPPORT:CHESTNUT HILL COLLEGE CONTINUES ITS LONGSTANDING COMMITMENT TO PROVIDING A TRANSFORMATIVE AND HOLISTIC EDUCATIONAL EXPERIENCE SUPPORTED BY A RANGE OF STUDENT SUCCESS INITIATIVES. ACADEMIC AND STUDENT SUPPORT PROGRAMS ARE DESIGNED TO ASSIST STUDENTS IN SELECTING ACADEMIC PATHWAYS, ACCESSING EDUCATIONAL RESOURCES, AND OVERCOMING BARRIERS TO PERSISTENCE AND COMPLETION.THE ACADEMIC DISCOVERY PROGRAM (ADP) CONTINUES TO SUPPORT STUDENTS WHO ENTER THE COLLEGE WITHOUT A DECLARED MAJOR BY PROVIDING STRUCTURED ADVISING, ACADEMIC COURSEWORK, AND CAREER EXPLORATION TO FACILITATE TIMELY DEGREE COMPLETION.THE COLLEGE MAINTAINS A LENDING LIBRARY TO PROVIDE TEXTBOOKS AND TECHNOLOGY TO STUDENTS WITH DEMONSTRATED NEED AND CONTINUES TO OFFER ACCESS TO LOANER LAPTOPS. IN ADDITION, THE COLLEGE OPERATES AN ON-CAMPUS FOOD PANTRY TO SUPPORT STUDENTS EXPERIENCING FOOD INSECURITY, PROVIDING ACCESS TO NON-PERISHABLE AND REFRIGERATED ITEMS TO STUDENTS.AUXILIARY SERVICES:AUXILIARY SERVICES INCLUDE A RANGE OF INTERNAL AND EXTERNAL OPERATIONS, INCLUDING RESIDENCE LIFE, FOOD SERVICES, AND FACILITIES RENTALS, WHICH SUPPORT CAMPUS OPERATIONS AND PROVIDE SERVICES TO THE COLLEGE COMMUNITY. 16869805 16869805 FINANCIAL AID.THE COLLEGE PROVIDED INSTITUTIONALLY FUNDED SCHOLARSHIPS, GRANTS, AND OTHER FORMS OF FINANCIAL ASSISTANCE TO SUPPORT STUDENT ACCESS, AFFORDABILITY, AND PERSISTENCE. DURING FISCAL YEAR 2024-2025, THE COLLEGE AWARDED SIGNIFICANT INSTITUTIONAL AID TO UNDERGRADUATE STUDENTS, WITH APPROXIMATELY NINETY-NINE PERCENT OF FULL TIME UNDERGRADUATES RECEIVING SOME FORM OF INSTITUTIONAL FINANCIAL ASSISTANCE. FINANCIAL AID WAS APPLIED TOWARD TUITION, FEES, HOUSING, AND EDUCATIONAL EXPENSES AND WAS AWARDED BASED ON DEMONSTRATED FINANCIAL NEED AND ACADEMIC ELIGIBILITY. (CONT'D ON SCHEDULE O.)THE COLLEGE'S FINANCIAL AID PROGRAMS ARE DESIGNED TO REDUCE ECONOMIC BARRIERS TO LEARNING AND PROMOTE EQUITY AND INCLUSION BY ENABLING STUDENTS FROM DIVERSE SOCIOECONOMIC BACKGROUNDS TO ENROLL IN AND COMPLETE THEIR ACADEMIC PROGRAMS. AID RECIPIENTS ARE REQUIRED TO MEET CONTINUING STANDARDS OF ACADEMIC PROGRESS. THE COLLEGE REGULARLY REVIEWS ITS FINANCIAL AID PRACTICES TO ENSURE ALIGNMENT WITH ITS MISSION AND STUDENT NEEDS. 47181470 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 125 0 1 695 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 25 24 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 PA AL AK AZ AR CA CO CT DC DE FL GA HI ID IL IN IA KS KY LA ME MD MN MO MS MT ND NE NH NJ NV NM NC OH OK OR RI SC SD TN TX UT VA VT WV WI WY X MARYANNE BUSH 2152487084 9601 GERMANTOWN AVENUE PHILADELPHIA PA 19118 WILLIAM W LATIMER PHD PRESIDENT, THROUGH DEC 2024 50.00 0.00 X X 620225 0 6569 BRIAN MCCLOSKEY PRESIDENT/CFO/VP FIN. 50.00 0.00 X X 243042 0 16474 CAROL STEINOUR YOUNG ESQ BOARD CHAIR 0.50 0.00 X X 0 0 0 EILEEN MARNIEN SSJ BOARD VICE CHAIR 0.50 40.00 X X 0 0 0 JILL KIMBERLY BANKS BOARD MEMBER 0.50 0.00 X 0 0 0 SALLYANN M BOWMAN MD BOARD MEMBER 0.50 0.00 X 0 0 0 RICHARD J COHEN PHD FACHE BOARD MEMBER 0.50 0.00 X 0 0 0 KENDRA ENNIS DAVENPORTMPLCFRE BOARD MEMBER 0.50 0.00 X 0 0 0 DEVIN DEVOUE BOARD MEMBER 0.50 0.00 X 0 0 0 KAREN DIETRICH SSJ BOARD MEMBER 0.50 40.00 X 0 0 0 HERMAN C FALA JD BOARD MEMBER 0.50 0.00 X 0 0 0 DEBORAH FLINT BOARD MEMBER 0.50 0.00 X 0 0 0 DAVID GUNN BOARD MEMBER 0.50 0.00 X 0 0 0 RYAN KILLEEN EDD BOARD MEMBER 0.50 40.00 X 0 0 0 MICHELLE LESHER SSJ BOARD MEMBER 0.50 40.00 X 0 0 0 BARBARA MARTINO DIRECTOR EMERITA 0.50 0.00 X 0 0 0 MARGARET MCCAFFERY BOARD MEMBER 0.50 0.00 X 0 0 0 MARY MCFADDEN SSJ CFRE BOARD MEMBER 0.50 40.00 X 0 0 0 CATHERINE LOCKYER MOULTON BOARD MEMBER 0.50 0.00 X 0 0 0 FRANCES R PIERCE BOARD MEMBER 0.50 0.00 X 0 0 0 THOMAS QUEENAN BOARD MEMBER 0.50 0.00 X 0 0 0 BETH DAVEY ROSSO BOARD MEMBER 0.50 0.00 X 0 0 0 JOHN SABIA JR BOARD MEMBER 0.50 0.00 X 0 0 0 LYNN MULVANEY SHARP BOARD MEMBER 0.50 0.00 X 0 0 0 KENNETH WONG BOARD MEMBER 0.50 0.00 X 0 0 0 RONALD ZEMNICK BOARD MEMBER 0.50 0.00 X 0 0 0 MARY DACEY SSJ BOARD MEMBER - LEFT JAN 2025 0.50 40.00 X 0 0 0 MARY ANN KEENAN MD BOARD MEMBER - LEFT AUG 2024 0.50 0.00 X 0 0 0 RASHIDA M WEATHERS BOARD MEMBER - LEFT DEC 2024 0.50 0.00 X 0 0 0 MARJORIE SCOTT BOARD SEC. (NON-VOTING) 0.50 0.00 X 0 0 0 KRISTA MURPHY VP STRATEGIC INNOVATIONS 50.00 0.00 X 180252 0 18610 ANDRA BASU VP ACADEMIC AFFAIRS/DEAN OF FACULTY 50.00 0.00 X 179054 0 0 RYAN BURTON-ROMERO VP OF ENROLLMENT 50.00 0.00 X 170724 0 26196 CHERYLL ROTHERY PROFESSOR 50.00 0.00 X 133933 0 11075 CHRISTOPHER N SPANGLER CHIEF COMM. OFFIC 50.00 0.00 X 121892 0 9541 1649122 0 88465 17 0 1 0 CHARTWELLS COLLEGE & UNIVERSITY DINING S 2400 YORKMONT RD CHARLOTTE NC 28217 DINING SERVICES 2410482 ALLIED UNIVERSAL 121 WASHINGTON STREET SUITE 600 CONSHOHOCKEN PA 19428 SECURITY SERVICES 1338758 EMCOR SERVICES FLUIDICS 9815 ROOSEVELT BLVD SUITE A PHILADELPHIA PA 19114 PHYSICAL PLANT SERVICES 936351 JENSPARK INC PO BOX 845764 BOSTON MA 02284 ADVERTISING & MARKETING SERVICES 859743 INTERSTATE MAINTENANCE CORPORATION 508 PRUDENTIAL RD STE 100 HORSHAM PA 19044 JANITORIAL SERVICES 803033 26 900112 8113089 502692 9013201 TUITION 611310 35298000 35298000 ROOM AND BOARD 611310 3890896 3890896 AUXILIARY FEES 611310 287450 287450 39476346 812361 812361 580479 0 580479 580479 550000 30479 4134620 961076 3173544 3173544 3173544 CATERING REVENUE 722320 328141 328141 CLINICAL RECEIPTS 900099 88662 88662 PARKING FEES 900099 23705 23705 227384 227384 667892 53723823 39476346 878141 4356135 12000 12000 16869805 16869805 718263 44349 673914 13348056 11570484 1138929 638643 217033 189753 16646 10634 1316379 1096312 158975 61092 987601 779613 156769 51219 105973 105973 292024 292024 120494 120494 2404132 1708555 633535 62042 72993 63625 9368 1120865 999149 24862 96854 749283 667724 81559 4898294 4958556 -159258 98996 80095 77915 2162 18 1487842 227835 1260007 2044625 1672721 317538 54366 589200 589200 DINING SERVICES 2617744 2617744 0 0 STUDENT ACTIVITIES 723492 668149 54535 808 ATHLETICS 598695 598695 0 0 BAD DEBT 331685 0 331685 0 2523171 1769286 753492 393 54229744 47181470 5882282 1165992 11779 12719 3863170 3510820 4969855 3806517 1963705 2181811 446863 127935 104011409 51911070 51230299 52100339 24207100 26698802 196921 196561 1326941 1170259 88216633 89805763 3317781 3040478 968572 1092883 18587047 0 6550000 29178778 2441770 2033879 31865170 35346018 X 18551308 14741856 37800155 39717889 56351463 54459745 88216633 89805763 -505921 -1385797 0 X 0 1 X 1 1 1 X 10694429 19665792 19950239 8366415 9013201 67690076 10694429 19665792 19950239 8366415 9013201 67690076 1720425 65969651 249056 288946 374558 738187 842840 2493587 243253 446759 893158 591770 339751 2514691 72698354 206794626 0.90740 0.91300 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: AMS DUES - 2021 AMOUNT: $ 6,970. ATHLETIC SPONSORSHIPS - BOOKSTORE COMMISSIONS - 2020 AMOUNT: $ 22,233. 2021 AMOUNT: $ 20,931. 2022 AMOUNT: $ 19,828. CELL TOWER REVENUE - 2020 AMOUNT: $ 22,584. 2021 AMOUNT: $ 23,316. CLINICAL RECEIPTS - 2020 AMOUNT: $ 69,302. 2021 AMOUNT: $ 98,928. 2022 AMOUNT: $ 103,507. 2023 AMOUNT: $ 127,945. 2024 AMOUNT: $ 88,662. LAUNDRY COMMISSIONS - 2020 AMOUNT: $ 2,147. 2021 AMOUNT: $ 3,938. PARKING FEES - 2020 AMOUNT: $ 15,472. 2021 AMOUNT: $ 68,353. 2022 AMOUNT: $ 52,725. 2023 AMOUNT: $ 34,781. 2024 AMOUNT: $ 23,705. REVENUE SHARING - TRANSCRIPTS - 2020 AMOUNT: $ 31,600. 2021 AMOUNT: $ 30,306. 2022 AMOUNT: $ 34,275. VENDING MACHINE COMMISSIONS - 2020 AMOUNT: $ 437. 2021 AMOUNT: $ 41,839. 2022 AMOUNT: $ 27,872. MISCELLANEOUS INCOME - 2020 AMOUNT: $ 79,478. 2021 AMOUNT: $ 152,178. 2022 AMOUNT: $ 654,951. 2023 AMOUNT: $ 429,044. 2024 AMOUNT: $ 227,384. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 31184434 565239 2584537 663599 226794 120494 33323323 26562623 3763561 1712846 738246 2147 114203 31184434 19994058 6124738 1278601 738246 2147 94381 26562623 20043647 2363992 -2413581 19994058 15459637 2336566 2247444 20043647 0.87770 0.12230 0 0 10506160 10506160 78793211 40116342 38676869 11953574 11794728 158846 2758464 2758464 52100339 STUDENT DEPOSITS AND ADVANCES 430247 ADVANCES FROM U.S. GOVERNMENT FOR STUDENT LOANS 488708 ANNUITIES PAYABLE 64492 LEASE LIABILITIES 683765 OTHER LIABILITIES 366667 2033879 X 35383712 -1385797 35985 -1349812 36733524 120494 16869805 16990299 53723823 37275430 35985 35985 37239445 120494 16869805 16990299 54229744 PART V, LINE 4: THE COLLEGE'S ENDOWMENT CONSISTS OF 101 INDIVIDUAL FUNDS ESTABLISHED FOR THE COMBINED PURPOSE OF PRESERVING PRINCIPAL AND MAXIMIZING GROWTH. THE ENDOWMENT FUNDS ARE PRIMARILY FOR STUDENT SCHOLARSHIP OR SUPPORT FOR THE COLLEGE. PART X, LINE 2: THE COLLEGE IS A NOT-FOR-PROFIT ENTITY THAT IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, THE COLLEGE IS NOT SUBJECT TO INCOME TAXES EXCEPT TO THE EXTENT IT HAS TAXABLE INCOME FROM ACTIVITIES THAT ARE NOT RELATED TO ITS EXEMPT PURPOSES. NO PROVISION FOR INCOME TAXES WAS REQUIRED FOR 2025 OR 2024. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE COLLEGE AND HAS CONCLUDED THAT AS OF JUNE 30, 2025 AND 2024, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OR DISCLOSURE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE COLLEGE IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIOD IN PROGRESS. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 16,869,805. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 16,869,805. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE COLLEGE PROVIDES A STATEMENT IN ALL PUBLICATIONS AND ON ITS WEBSITE REGARDING ITS NONDISCRIMATORY POLICY. SCHEDULE E, PART I, LINE 6 CHESTNUT HILL COLLEGE RECEIVES FUNDS FROM VARIOUS FEDERAL AND STATE GOVERNMENT AGENCIES UNDER THEIR RESPECTIVE STUDENT FINANCIAL AID ASSISTANCE PROGRAMS. FEDERAL PROGRAMS INCLUDE DIRECT LOANS, PELL GRANT PROGRAM, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (SEOG) PROGRAM, FEDERAL WORK STUDY PROGRAM (FWS), AND TEACH GRANT PROGRAM. THE STATE PROGRAM IS THE PENNSYLVANIA HIGHER EDUCATION ASSISTANCE (PHEAA) PROGRAM FOR STUDENTS. IN ADDITION, THE COLLEGE IS AWARDED SPONSORED PROJECT GRANTS BY FEDERAL AND STATE GOVERNMENTAL AGENCIES. GENERAL SUPPORT IS PROVIDED TO THE COLLEGE FROM THE COMMONWEALTH OF PENNSYLVANIA UNDER ITS INSTITUTIONAL ASSISTANCE GRANT (IAG) PROGRAM TO PRIVATE COLLEGES AND UNIVERSITIES IN THE STATE. 1 AFRICAN SISTERS EDUCATION COLLABORATIVE (ASEC) EMMANUEL HALL 2300 ADAMS AVE SCRANTON PA 18509 204548564 501(C)(3) 12000 0 OPERATING SUPPORT 1 0 TUITION ASSISTANCE 914 16869805 0 PART I, LINE 2: CHESTNUT HILL COLLEGE DOES NOT PROVIDE GRANTS TO OTHER ORGANIZATIONS; HOWEVER, ON OCCASION DONATIONS ARE MADE TO OTHER CHARITABLE NON-PROFIT ORGANIZATIONS. SINCE THESE ARE DONATIONS TO OTHER PUBLICLY CHARITABLE ORGANIZATIONS, THEY ARE NOT MONITORED FOR A SPECIFIC USE. THE STUDENTS RECEIVING SCHOLARSHIPS AND FELLOWSHIPS ARE DETERMINED BY THE COLLEGE ON THE BASIS OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED, AND OTHER OBJECTIVE AND NONDISCRIMINATORY STANDARDS. SCHOLARSHIPS AND GRANTS FOR STUDENTS ARE APPLIED DIRECTLY TO A STUDENT'S CHESTNUT HILL COLLEGE ACCOUNT AND APPLIED TO TUITION AND FEES. ALL FINANCIAL AID IS SUBJECT TO REVISION BASED ON AVAILABILITY, CHANGES IN FAMILY CONTRIBUTION AND/OR CREDIT LOAD. SATISFACTORY ACADEMIC PROGRESS MUST BE MAINTAINED ACCORDING TO STANDARDS PRESCRIBED BY CHESTNUT HILL COLLEGE. ANNUAL RENEWAL OF FINANCIAL AID IS CONTINUOUS IF STUDENT CONTINUES TO DEMONSTRATE NEED, ALL REQUIRED DOCUMENTS ARE COMPLETED BY THE PUBLISHED DEADLINE, AND SATISFACTORY ACADEMIC PROGRESS IS MAINTAINED CONSISTENT WITH CHESTNUT HILL COLLEGE POLICY. RENEWAL OF AID ALSO IS DEPENDENT ON AVAILABILITY OF FUNDS. X 1 1 X X X 1 0 0 0 0 0 0 0 1 1 WILLIAM W LATIMER PHD PRESIDENT, THROUGH DEC 2024 369217 0 0 0 251008 0 0 0 6569 0 626794 0 0 0 BRIAN MCCLOSKEY PRESIDENT/CFO/VP FIN. 243042 0 0 0 0 0 7275 0 9199 0 259516 0 0 0 KRISTA MURPHY VP STRATEGIC INNOVATIONS 179992 0 0 0 260 0 5427 0 13183 0 198862 0 0 0 RYAN BURTON-ROMERO VP OF ENROLLMENT 170481 0 0 0 243 0 2313 0 23883 0 196920 0 0 0 ANDRA BASU VP ACADEMIC AFFAIRS/DEAN OF FACULTY 179054 0 0 0 0 0 0 0 0 0 179054 0 0 0 PART I, LINE 1A WILLIAM W. LATIMER, PH.D., PRESIDENT, RECEIVED A $4,000 PER MONTH HOUSING ALLOWANCE. THE ALLOWANCE IS INCLUDED IN TAXABLE COMPENSATION AND REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III). PART I, LINE 4A WILLIAM LATIMER PH.D.'S COMPENSATION REPORTED ON FORM 990, PART VII INCLUDED $185,000 FOR SEVERANCE; TERMS AND CONDITIONS WERE AS FOLLOWS: 6 MONTHS OF SEVERANCE AFTER SEPARATION FROM SERVICE. PART I, LINE 8 WILLIAM W. LATIMER, PH.D., PRESIDENT, HAD AN EMPLOYMENT CONTRACT EFFECTIVE JULY 1, 2022, THROUGH JUNE 30, 2025. X 28 502692 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): THE NUMBER IN COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART III, LINE 2 DURING FY 2025, CHESTNUT HILL COLLEGE DEVELOPED AND IMPLEMENTED A NEW PROGRAM SERVICE, THE LIFE SKILLS THROUGH CAREER PROGRAM, IN FURTHERANCE OF ITS MISSION TO SUPPORT INDIVIDUALS WITH DIVERSE LEARNING NEEDS. THIS PROGRAM IS DESIGNED TO SERVE INDIVIDUALS WITH DEVELOPMENTAL DISABILITIES AND AUTISM SPECTRUM DISORDER PARTICIPATING IN CAMPUS AND COMMUNITY-BASED PROGRAMMING. THE PROGRAM INCLUDES A STRUCTURED 24 MONTH PROGRAM SPECIFICALLY DESIGNED FOR INDIVIDUALS WHO HAVE AGED OUT OF THE PUBLIC EDUCATION SYSTEM, PROVIDING VOCATIONAL AND TRANSITIONAL SUPPORT WITHIN A COMMUNITY MISSION-BASED ENVIRONMENT. THE PROGRAM EXTENDS THE COLLEGE'S EDUCATIONAL MISSION BY SERVING A POPULATION THAT MAY NOT OTHERWISE HAVE ACCESS TO TRADITIONAL PATHWAYS, OFFERING OPPORTUNITIES FOR CONTINUED LEARNING, SKILL DEVELOPMENT, AND COMMUNITY INTEGRATION FOR AN UNDERSERVED COMMUNITY. PROGRAM SERVICES INCLUDE VOCATIONAL TRAINING, LIFE SKILLS DEVELOPMENT, AND FAMILY SUPPORT - AND INSTRUCTION IN INDEPENDENT LIVING COMPETENCIES SUCH AS COMMUNICATION AND SELF-ADVOCACY. THE OUTCOMES OF THIS PROGRAM INCLUDE INDIVIDUALS SECURING EMPLOYMENT AND INDEPENDENT LIVING SUSTAINABILITY SO THAT THEY CAN LIVE A LIFE OF CHOICE AND DIGNITY. THE LIFE SKILLS THROUGH CAREER PROGRAM IS THE FIRST OF ITS KIND IN THE STATE OF PENNSYLVANIA AS CHESTNUT HILL COLLEGE IS THE ONLY COLLEGE IN PA TO OBTAIN 2380 LICENSURE THROUGH THE OFFICE OF DEVELOPMENTAL PROGRAMS (ODP). PARTICIPANTS ARE INTEGRATED INTO CAMPUS ACTIVITIES TO SUPPORT SOCIAL DEVELOPMENT, INDEPENDENCE, AND ENGAGEMENT IN THE BROADER CAMPUS COMMUNITY ENVIRONMENT. THROUGH THIS PROGRAM, THE COLLEGE EXPANDS ITS EDUCATIONAL AND CHARITABLE PURPOSES BY PROVIDING STRUCTURED, CAMPUS AND COMMUNITY-BASED SERVICES THAT INTEGRATE WORKFORCE PREPARATION AND LIFE SKILLS DEVELOPMENT. THIS PROGRAM REFLECTS THE COLLEGE'S COMMITMENT TO INCLUSION, EQUITY, AND ACCESS TO NEEDED SERVICES - AND THE PREPARATION OF INDIVIDUALS WITH DEVELOPMENTAL DISABILITIES FOR GREATER INDEPENDENCE AND PARTICIPATION IN THE WORKFORCE AND COMMUNITY. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE CONSISTS OF THE CHAIR OF THE BOARD, THE FORMER CHAIR OF THE BOARD, THE VICE CHAIR OF THE BOARD, THE PRESIDENT, AND AT LEAST TWO ADDITIONAL DIRECTORS APPOINTED BY RESOLUTION OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE SHALL HAVE AND EXERCISE THE AUTHORITY OF THE BOARD OF DIRECTORS IN THE MANAGEMENT OF THE BUSINESS OF THE CORPORATION DURING THE INTERVALS BETWEEN MEETINGS OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE SHALL KEEP REGULAR MINUTES OF ITS PROCEEDINGS AND REPORT THE SAME TO THE BOARD AT EACH REGULAR MEETING OF THE BOARD. THE EXECUTIVE COMMITTEE IS RESPONSIBLE FOR ANNUALLY EVALUATING THE PRESIDENT'S PERFORMANCE AS ARTICULATED IN HIS/HER CONTRACT. THE EXECUTIVE COMMITTEE SHALL REVIEW THE BYLAWS ON A CONTINUING BASIS. THE EXECUTIVE COMMITTEE DOES NOT HAVE THE AUTHORITY: (A) TO ADOPT OR CHANGE THE MISSION, PURPOSE, PHILOSOPHY OR OBJECTIVES OF THE CORPORATION OR TO CHANGE THE GENERAL STRUCTURE OF THE OPERATION OF THE CORPORATION AS A VOLUNTARY NON-PROFIT CORPORATION FOR EDUCATION; (B) TO AMEND THE CORPORATION'S CHARTER, CERTIFICATE OR ARTICLES OF INCORPORATION, OR BYLAWS; (C) TO DISSOLVE, DIVIDE, CONVERT, LIQUIDATE OR WIND UP THE CORPORATION, OR CONSOLIDATE OR MERGE THE CORPORATION WITH ANOTHER CORPORATION OR ENTITY; (D) TO SELL ALL OR SUBSTANTIALLY ALL THE ASSETS OF THE CORPORATION; (E) TO ELECT THE MEMBERS OF THE BOARD OF DIRECTORS OF THE CORPORATION; (F) TO APPROVE PRINCIPAL OFFICERS OF THE CORPORATION; AND (G) TO EFFECT ANY TRANSFER OR ENCUMBRANCE OF CORPORATE PROPERTY WHICH REQUIRES APPROVAL PURSUANT TO CANON LAW. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE ORGANIZATION ARE THE GENERAL COUNCIL OF THE CONGREGATION OF THE SISTERS OF SAINT JOSEPH. THEY HAVE THE SAME VOTING RIGHTS AS THE OTHER BOARD DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A THE GENERAL COUNCIL OF THE CONGREGATION OF THE SISTERS OF SAINT JOSEPH RESERVE THE RIGHT TO ELECT THE MEMBERS OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS MAY INITIATE AND IMPLEMENT ANY PROPOSAL WITH RESPECT TO ANY OF THE FOLLOWING, AND, IF ANY PROPOSAL WITH RESPECT TO ANY OF THE FOLLOWING IS OTHERWISE INITIATED, IT SHALL NOT BECOME EFFECTIVE UNLESS APPROVED BY THE MEMBERS: (A) TO ADOPT OR CHANGE THE MISSION, PURPOSE, PHILOSOPHY, OR OBJECTIVES OF THE CORPORATION OR TO CHANGE THE GENERAL STRUCTURE OF THE OPERATION OF THE CORPORATION AS A VOLUNTARY NON-PROFIT CORPORATION FOR EDUCATION; (B) TO AMEND THE CORPORATION'S CHARTER, CERTIFICATE OR ARTICLES OF INCORPORATION, OR BYLAWS; (C) TO DISSOLVE, DIVIDE, CONVERT, LIQUIDATE OR WIND UP THE CORPORATION, OR CONSOLIDATE OR MERGE THE CORPORATION WITH ANOTHER CORPORATION OR ENTITY; (D) TO SELL ALL OR SUBSTANTIALLY ALL THE ASSETS OF THE CORPORATION; (E) TO ELECT THE MEMBERS OF THE BOARD OF DIRECTORS OF THE CORPORATION; (F) TO APPROVE PRINCIPAL OFFICERS OF THE CORPORATION; AND (G) TO EFFECT ANY TRANSFER OR ENCUMBRANCE OF CORPORATE PROPERTY WHICH REQUIRES APPROVAL PURSUANT TO CANON LAW. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 AND ALL ACCOMPANYING SCHEDULES ARE PREPARED AND REVIEWED BY THE COLLEGE'S EXTERNAL AUDIT FIRM WITH INFORMATION PREPARED BY MANAGEMENT. AFTER THE INITIAL REVIEW BY MANAGEMENT, THE FORM 990 IS THEN DISTRIBUTED TO THE AUDIT COMMITTEE MEMBERS FOR THEIR REVIEW AND APPROVAL. THE FULL BOARD OF DIRECTORS RECEIVES THE RETURN PRIOR TO THE RETURN BEING FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE COLLEGE HAS A SUBSTANTIVE WRITTEN CONFLICT OF INTEREST POLICY THAT COVERS BOARD MEMBERS AND ANY OTHER INDIVIDUAL CONSIDERED AN INTERESTED PERSON. BOARD MEMBERS, OFFICERS, AND KEY EMPLOYEES SIGN AN ANNUAL CONFLICT OF INTEREST STATEMENT WHICH INCLUDES COMPREHENSIVE QUESTIONS ON FAMILY AND BUSINESS RELATIONSHIPS. ALL STATEMENTS ARE REVIEWED BY THE BOARD SECRETARY. ANY POTENTIAL OR ACTUAL CONFLICT IS FULLY DISCLOSED BY THE SECRETARY TO THE MEMBERSHIP COMMITTEE, WHO WILL DETERMINE WHETHER OR NOT THE TRANSACTION IS IN THE BEST INTEREST OF THE ORGANIZATION. THE INTERESTED PARTY IS EXCLUDED FROM ALL DISCUSSIONS AND DECISIONS RELATED TO THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15A THE PROCESS FOR DETERMINING THE COMPENSATION FOR THE COLLEGE PRESIDENT AND THE OFFICERS IS DOCUMENTED IN THE COLLEGE'S "PROCESS FOR DETERMINING COMPENSATION" POLICY. THE BOARD OF DIRECTORS APPROVES THE FISCAL YEAR BUDGET WHICH CONTAINS THE TOTAL COMPENSATION AMOUNT FOR THE YEAR. THE PRESIDENT, DIRECTOR OF HUMAN RESOURCES, AND VICE PRESIDENT FOR FINANCIAL AFFAIRS DETERMINE THE COMPENSATION OF OFFICERS AND OTHER COLLEGE EMPLOYEES BASED ON THE BUDGET AND MARKET DATA FROM COMPARABLE INSTITUTIONS. THE ORGANIZATION USES COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCATION FOR HUMAN RESOURCES (CUPA) SALARY DATA TO VERIFY ANY COMPENSATION DECISIONS ARE WITHIN FAIR MARKET RANGE FOR THE INDUSTRY. THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS PERIODICALLY REVIEWS THE COLLEGE PRESIDENT'S COMPENSATION AND DOCUMENTS ITS REVIEW IN COMMITTEE MINUTES. SPECIFIC DISCUSSIONS ON COMPENSATION ARE NOT RECORDED IN BOARD MINUTES, HOWEVER, COMPENSATION IS A COMPONENT OF THE BUDGET WHICH IS FULLY DOCUMENTED. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2025 AND WAS DETERMINED BY COMPARABLE SALARIES IN THE REGION. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST AT THE COLLEGE'S ACCOUNTING OFFICE. CONGREGATION OF THE SISTERS OF ST JOSEPH 9701 GERMANTOWN AVENUE PHILADELPHIA PA 19118 TEACHING, HUMAN SERVICE, AND OTHER CHARITABLE PURSUITS PA 501(C)(3) LINE 1 N/A 0 0 0 0 0 1 0 0 0 0 0 1 0 0 1 0 1 1 0 0 FORM 990, SCHEDULE R, PART V: THE COLLEGE LEASES ITS MAIN CAMPUS PROPERTY FROM THE CONGREGATION OF THE SISTERS OF ST. JOSEPH, PHILADELPHIA, A PENNSYLVANIA NON-PROFIT CORPORATION. THE LEASE IS DATED JULY 28, 2014 AND IS FOR A TERM OF 25 YEARS EXPIRING JULY 30, 2039. THE RENT FOR THE ENTIRE TERM WAS $10.00. THE CONGREGATION AND COLLEGE'S MAIN CAMPUS ARE LOCATED ON THE SAME PROPERTY. THE TWO ENTITIES SHARE COSTS RELATED TO PHYSICAL PLANT MAINTENANCE, UTILITIES, PROPERTY INSURANCE AND OTHER PROPERTY COSTS AS NECESSARY. COSTS ARE ALLOCATED BASED ON USAGE.