2023-04-26T15:33:44-05:00 2022-06-30 366055558 GRANT THORNTON LLP 1000 WILSON BLVD SUITE 1500 ARLINGTON VA 22209 990 2021-07-01 231352648 IMMACULATA UNIVERSITY IMMA 6106474400 1145 KING ROAD IMMACULATA PA 19345 AMY A BOSIO VICE PRESIDENT OF FINANCE AND ADMIN 4843233050 2023-04-26 1 AMY BOSIO XXX-XX-XXXX MARY TORRETTA P00847851 7038477500 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z AMY A BOSIO 1145 KING ROAD IMMACULATA PA 19345 91973214 0 X WWW.IMMACULATA.EDU X 1946 PA SEE SCHEDULE O 26 26 989 26 20713 0 8740750 7301754 42870280 47073709 948276 954862 126023 493548 52685329 55823873 10842109 13357512 0 0 20383701 21057507 0 0 950954 15370574 17448682 46596384 51863701 6088945 3960172 90984973 89439776 48738151 48870608 42246822 40569168 X SEE SCHEDULE O 0 0 34892805 13357512 40981465 TO EDUCATE AND PROVIDE RELATED SERVICES TO STUDENTS. IN THE FALL TERM OF ACADEMIC YEAR 2021/2022, THIS PROGRAM BENEFITTED 2,501 OF WHOM 948 WERE TRADITIONAL UNDERGRADUATE AND 925 GRADUATE STUDENTS. THIS PROGRAM ALSO CONTRIBUTED TOWARD THE GRADUATION OF 503 STUDENTS DURING ACADEMIC YEAR 2021/2022. 2548365 3461753 TO PROVIDE LIVING QUARTERS FOR STUDENTS. IN THE FALL TERM OF ACADEMIC YEAR 2021/2022, THIS PROGRAM BENEFITTED 498 STUDENTS. 2795053 2558759 TO PROVIDE MEALS TO STUDENTS. IN THE FALL OF 2021, THIS PROGRAM BENEFITTED 501 STUDENTS. 489258 DESCRIPTION AND REVENUE AMOUNTS:BOOKSTORE COMMISSION AND VENDING - $54,055FOOD SVCS - CATERING: $2,287IU CASH RECEIPTS: $15,390PARKING FEE/PERMITS: $60,365TRANSCRIPT INCOME: $22,076FORFEIT STUDENT DEPOSITS: $21,154ALL OTHER REVENUE : $313,929 489258 40236223 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 77 0 1 989 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 26 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X AMY A BOSIO 4843233050 1145 KING RD IMMACULATA PA 19345 SISTER MARGARET ROSE ADAMS TRUSTEE 2.00 0.00 X 0 0 0 PEGGY BEHM TRUSTEE 2.00 0.00 X 0 0 0 NORMA C BROWN TRUSTEE 2.00 0.00 X 0 0 0 PHYLLIS BELLOPEDE TRUSTEE (THRU 10/2021) 2.00 0.00 X 0 0 0 SISTER ELAINE DECHANTAL BROOKES IHM TRUSTEE 2.00 0.00 X 0 0 0 JUSTIN CUSICK TRUSTEE 2.00 0.00 X 0 0 0 SISTER JOHN EVELYN DITROLIO IHM TRUSTEE 2.00 0.00 X 0 0 0 CINDY EGNOTOVICH TRUSTEE 2.00 0.00 X 0 0 0 MELISSA GEORGE TRUSTEE 2.00 0.00 X 0 0 0 AJ GABRIELE TRUSTEE 2.00 0.00 X 0 0 0 RALPH J HALL TRUSTEE 2.00 0.00 X 0 0 0 KATHLEEN JAMES TRUSTEE 2.00 0.00 X 0 0 0 MARY LOU KRAMER TRUSTEE 2.00 0.00 X 0 0 0 PATRICIA A KNECHT PHD TRUSTEE 2.00 0.00 X 0 0 0 ANTHONY J MONTAGNOLO TRUSTEE 2.00 0.00 X 0 0 0 BERNADETTE MAGUIRE TRUSTEE 2.00 0.00 X 0 0 0 SISTER PATRICIA MENGEL IHM TRUSTEE 2.00 0.00 X 0 0 0 SR MAUREEN L MCDERMOTT IHM TRUSTEE (THRU 9/2021) 2.00 0.00 X 0 0 0 KEVIN MOORE TRUSTEE 2.00 0.00 X 0 0 0 SISTER JEANNINE MARY NORTON IHM TRUSTEE 2.00 0.00 X 0 0 0 THERESA M PAYTON TRUSTEE 2.00 0.00 X 0 0 0 SISTER JANET PURCELL IHM TRUSTEE 2.00 0.00 X 0 0 0 SISTER STEPHEN ANN RODERIGUEZ IHM TRUSTEE 2.00 0.00 X 0 0 0 SISTER MARY SMITH IHM TRUSTEE 2.00 0.00 X 0 0 0 SISTER MARY ELLEN TENNITY IHM TRUSTEE 2.00 0.00 X 0 0 0 JUDITH WITT TRUSTEE 2.00 0.00 X 0 0 0 MARY BETH WESTMORELAND TRUSTEE 2.00 0.00 X 0 0 0 MIMI DRAPER WALSH TRUSTEE 2.00 0.00 X 0 0 0 BARBARA LETTIERE PRESIDENT 40.00 0.00 X 256040 0 13037 BRUCE FRIEDMAN VP FINANCE & ADMINISTRATION 40.00 0.00 X 200132 0 23660 SUSAN ARNOLD VP OF ADVANCEMENT 40.00 0.00 X 184161 0 10648 SISTER MONICA SICILIA VP OF COMMUNICATIONS 40.00 0.00 X 0 0 0 SISTER MARY HENRICH IHM VP FOR MISSION AND MINISTRY 40.00 0.00 X 0 0 0 PATRICIA CANTERINO VP FOR SD & UA 40.00 0.00 X 170382 0 9929 ANGELA TEKELY VP ACADEMIC AFFAIRS 40.00 0.00 X 147581 0 26679 BRYAN STEINBERG EXEC. DIR. OF INFORMATION TECH SERV. 40.00 0.00 X 141690 0 26405 KERRY JONES DIRECTOR, CAPITAL PROGRAM MANAGEMENT 40.00 0.00 X 141595 0 9393 MELISSA REED DEAN 40.00 0.00 X 117591 0 8929 JEFFREY ROLLISON DIRECTOR OF LIBRARY 40.00 0.00 X 114163 0 8865 CLAUDINE VITA DEAN 40.00 0.00 X 111998 0 11856 1585333 0 149401 10 0 1 0 R C LEGNINI COMPANY INC 46 PENNSYLVANIA AVENUE MALVERN PA 19355 CONTRACTOR 3921791 PARKHURST DINING PO BOX 644091 PITTSBURGH PA 152644091 DINING SERVICES 2544135 ELLUCIAN COMPANY 62578 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 TECHNOLOGY SERVICES 941448 SISTERS OF IHM 1 OUR LADY CIRCLE IMMACULATA PA 19345 STUDENT TEACHING 932298 IT OUTLET INC 1900 N WALNUT AVE BRANDON SD 57005 TECHNOLOGY HARDWARE 489253 24 7465 3789020 3505269 4000 7301754 TUITION / FEES 611710 40981465 40981465 RESIDENT HALLS 721310 3461753 3461753 STUDENT BOARD PLAN 611710 2558759 2558759 BOOKSTORE COMM. & VEND 451211 54055 54055 IU CASH RECEIPTS 900099 15390 15390 2287 2287 47073709 1208127 1208127 2723 2723 22833 0 22833 22833 20713 2120 35861722 36117710 -255988 -255988 -255988 58820 7465 25929 32891 32891 26000 5702 20298 20298 PARKING FEE/PERMITS 812930 60365 60365 TRANSCRIPT INCOME 611710 22076 22076 FORFEIT STUDENT DEPOSI 611710 21154 21154 313931 313931 417526 55823873 47491235 20713 1010171 13357512 13357512 958296 170382 603753 184161 16421323 12972913 3133429 314981 438352 331369 91561 15422 2052737 1465312 544087 43338 1186799 956533 195163 35103 55519 55519 107498 107498 115028 115028 2551019 1783482 767537 804116 81868 702090 20158 3260472 2163158 774164 323150 2447913 2447913 116815 100284 1890 14641 1883107 1517598 365509 3409949 2748081 661868 466449 372844 93605 FEES FOR DINING SERVICE 2127071 2127071 EQUIPMENT 103726 87816 15910 51863701 40236223 10676524 950954 4619562 3068281 0 687606 128244 759837 639357 498897 178908 738696 934844 143703066 88828996 51141166 54874070 32400605 29511887 138604 104185 90984973 89439776 2022754 3214228 2536785 2270617 36326456 35594724 5150523 5106471 2701633 2684568 48738151 48870608 X 15957276 16207768 26289546 24361400 42246822 40569168 90984973 89439776 3960172 -5637826 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 26723755 6422012 -4518131 2767562 25860074 20961788 883848 5378845 500726 26723755 18532299 2135767 879716 585994 20961788 19677380 228060 1126859 2500000 18532299 18332331 421915 1423134 500000 19677380 0.39300 0.35700 0.25000 0 0 212719 212719 111472836 66619925 44852911 6784523 6784523 25232988 22209071 3023917 0 54874070 CONDITIONAL ASSET RETIREMENT 2401163 STUDENT DEPOSITS 283405 2684568 X 38636986 -5637826 310545 -5327281 43964267 115383 11744223 11859606 55823873 40314640 310545 310545 40004095 115383 11744223 11859606 51863701 PART V, LINE 4: THE UNIVERSITY'S ENDOWMENT CONSISTS OF APPROXIMATELY 60 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND NONRESTRICTED QUASI ENDOWMENT FUNDS. THE QUASI ENDOWMENT FUNDS' PRIMARY PURPOSE IS TO PROVIDE STABLE SUPPORT FOR LIQUIDITY COVENANTS IN CONNECTION WITH LONG-TERM DEBT OUTSTANDING. NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING NONRESTRICTED QUASI ENDOWMENT FUNDS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. PART X, LINE 2: FIN 48 DISCLOSURE (ASC 740): THE UNIVERSITY IS QUALIFIED AS A NOT-FOR-PROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AS AMENDED. ACCORDINGLY, THE UNIVERSITY IS NOT SUBJECT TO INCOME TAXES EXCEPT TO THE EXTENT IT HAS TAXABLE INCOME FROM ACTIVITIES THAT ARE NOT RELATED TO ITS EXEMPT PURPOSE. THE UNIVERSITY RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS, IF ANY, ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. NO PROVISION FOR INCOME TAXES WAS REQUIRED FOR FISCAL YEAR 2022 OR 2021. PART XI, LINE 4B - OTHER ADJUSTMENTS: CONTRA-TUITION 11,466,207. RESIDENT ASSISTANT DISCOUNTS 303,945. FUNDRAISING EVENT EXPENSES -25,929. PART XII, LINE 4B - OTHER ADJUSTMENTS: CONTRA TUITION 11,466,207. RESIDENT ASSISTANT DISCOUNT 303,945. FUNDRAISING EVENT EXPENSES -25,929. 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 UNIVERSITY PROVIDES A STATEMENT IN ALL PUBLICATIONS REGARDING ITS NONDISCRIMINATORY POLICY, INCLUDING ON ITS WEBSITE. SCHEDULE E, PART I, LINE 6 EXPLANATION OF GOVERNMENT FINANCIAL AID: IMMACULATA RECEIVES GOVERNMENT FINANCIAL ASSISTANCE IN THE FORM OF FEDERAL AND STATE GRANTS. GOLF TOURNAMENT 66285 7465 58820 24675 1254 66285 7465 58820 24675 1254 25929 32891 1 SCHOLARSHIPS 1038 11770152 0 HEERF EMERGENCY STUDENT RELIEF 2152 1587360 0 PART I, LINE 2: GRANTS ISSUED BY IMMACULATA UNIVERSITY ARE PRIMARILY IN THE FORM OF SCHOLARSHIP AND GRANTS AWARDED AS PART OF FINANCIAL AID. FINANCIAL AID GRANTS AWARDED TO STUDENTS ARE DIRECTLY APPLIED BY THE UNIVERSITY TO OFFSET BILLED AMOUNTS (I.E. TUITION) ON THE STUDENT'S ACCOUNT, THEREBY REDUCING THE NET BALANCE DUE TO THE UNIVERSITY. STUDENTS RECEIVING SCHOLARSHIPS ARE ASSESSED ON THE BASIS OF ACADEMIC ACHIEVEMENTS, FINANCIAL NEEDS AND SIMILAR STANDARDS. X X X 0 0 0 0 0 0 0 0 0 BARBARA LETTIERE PRESIDENT 253430 0 0 0 2610 0 4500 0 8537 0 269077 0 0 0 BRUCE FRIEDMAN VP FINANCE & ADMINISTRATION 199458 0 0 0 674 0 2800 0 20860 0 223792 0 0 0 SUSAN ARNOLD VP OF ADVANCEMENT 184161 0 0 0 0 0 3083 0 7565 0 194809 0 0 0 PATRICIA CANTERINO VP FOR SD & UA 170382 0 0 0 0 0 2867 0 7062 0 180311 0 0 0 ANGELA TEKELY VP ACADEMIC AFFAIRS 147581 0 0 0 0 0 2500 0 24179 0 174260 0 0 0 BRYAN STEINBERG EXEC. DIR. OF INFORMATION TECH SERV. 141690 0 0 0 0 0 2500 0 23905 0 168095 0 0 0 KERRY JONES DIRECTOR, CAPITAL PROGRAM MANAGEMENT 141595 0 0 0 0 0 2367 0 7026 0 150988 0 0 0 PART I, LINE 3 THE FOLLOWING TRUSTEES OF IMMACULATA UNIVERSITY'S BOARD OF TRUSTEES ARE MEMBERS OF THE SISTERS, SERVANTS OF THE IMMACULATE HEART OF MARY RELIGIOUS CONGREGATION AND DO NOT RECEIVE COMPENSATION FOR THIS SERVICE IN KEEPING WITH THEIR STATED VOW OF POVERTY: SISTER MARGARET ROSE ADAMS, IHM SISTER JOHN EVELYN DITROLIO, IHM SISTER ELAINE DECHANTAL BROOKES, IHM SISTER JEANNINE MARY NORTON, IHM SISTER JANET PURCELL, IHM SISTER STEPHEN ANNE RODERIGUEZ, IHM SISTER PATRICIA MENGEL, IHM SISTER MARY SMITH, IHM SISTER MARY ELLEN TENNITY, IHM THE FOLLOWING OFFICERS OF IMMACULATA UNIVERSITY ARE MEMBERS OF THE SISTERS, SERVANTS OF THE IMMACULATE HEART OF MARY RELIGIOUS CONGREGATION AND DO NOT RECEIVE COMPENSATION FOR THIS SERVICE IN KEEPING WITH THEIR STATED VOW OF POVERTY: SISTER MARY HENRICH, IHM - VP FOR MISSION AND MINISTRY SISTER MONICA SICILIA VP OF MARKETING AND COMMUNICATIONS A CHESTER COUNTY HEALTH & ED FACILITIES AU 232265260 165579ET6 2013-12-16 5700000 CAMPUS RENOVATIONS AND UPGRADES 1 0 0 B CHESTER COUNTY HEALTH & ED FACILITIES AU 232265260 2017-10-31 39012610 CURRENT REFUNDING SERIES 2010 AND 0 0 0 A 5700000 5700000 570000 319000 114000 4697000 2014 0 0 1 1 B 39012610 2520000 7437414 567282 28487914 2017 1 1 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 0 1 0 0 0 0 0 1 B 0 1 0 1 0 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: CHESTER COUNTY HEALTH & ED FACILITIES AU DATE THE REBATE COMPUTATION WAS PERFORMED: 01/11/2021 SCHEDULE K, PART IV, COLUMN B, LINE 2C THE DATE THE REBATE COMPUTATION WAS PERFORMED: 12/17/2019 FORM 990, PART I, LINE 1 IMMACULATA UNIVERSITY (THE UNIVERSITY) OFFERS UNDERGRADUATE AND GRADUATE PROGRAMS DIRECTED TOWARD THE LIBERAL ARTS AND PROFESSIONAL EDUCATION. FORM 990, PART III, LINE 1 THE UNIVERSITY IS A CATHOLIC INSTITUTION OF HIGHER EDUCATION FOUNDED IN 1920 BY THE SISTERS, SERVANTS OF THE IMMACULATE HEART OF MARY (THE CONGREGATION). THE UNIVERSITY OFFERS UNDERGRADUATE AND GRADUATE PROGRAMS TO MEN AND WOMEN DIRECTED PRIMARILY TOWARD LIBERAL ARTS AND PROFESSIONAL EDUCATION. IN ADDITION TO ON CAMPUS AND OFF-SITE GRADUATE AND UNDERGRADUATE PROGRAMS, THE UNIVERSITY OFFERS COURSES IN ONLINE INSTRUCTION. THE UNIVERSITY IS COMMITTED TO SCHOLARSHIP AND THE FORMATION OF THE WHOLE PERSON FOR LEADERSHIP AND SERVICE AND TO THE EMPOWERMENT OF ALL MEMBERS OF THE COMMUNITY TO SEEK TRUTH, PROMOTE JUSTICE, FOSTER PEACE, AND ENGAGE IN DIALOGUE BETWEEN FAITH AND CULTURE. FORM 990, PART VI, SECTION B, LINE 11B REVIEW PROCESS OF FORM 990: AN INDEPENDENT TAX PREPARATION FIRM IS ENGAGED TO ASSIST IN COMPILING FORM 990 WITH DATA PROVIDED FROM THE BUSINESS OFFICE. UNIVERSITY MANAGEMENT REVIEWS THE FORM 990 FOR COMPLETENESS AND ACCURACY. PRIOR TO FILING, MANAGEMENT PRESENTS THE FORM 990 TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. FORM 990 IS REVIEWED AND SIGNED BY THE VICE PRESIDENT FOR FINANCE AND ADMINISTRATION. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY: THE BOARD OF TRUSTEES AND OFFICERS ARE REQUIRED TO COMPLETE AN ANNUAL CONFLICT OF INTEREST STATEMENT AND SUBMIT SUCH STATEMENT TO THE UNIVERSITY PRESIDENT. THE PRESIDENT REVIEWS THOSE STATEMENTS FOR POTENTIAL CONFLICTS. THE DISCLOSURE STATEMENT ALSO REQUIRES ALL MEMBERS TO NOTIFY THE UNIVERSITY PRESIDENT PROMPTLY OF ANY ACTUAL, APPARENT, OR POTENTIAL CONFLICT OF INTEREST AS IT ARISES, SO THAT IT CAN BE ADDRESSED IMMEDIATELY. SHOULD THERE BE A CONFLICT OF INTEREST ANY AFFECTED TRUSTEE OR OFFICER SHALL REFRAIN FROM ANY CONSIDERATION OF, OR ACTION UPON, THE TRANSACTION OR PROPOSED TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR DETERMINING COMPENSATION OF THE PRESIDENT: THE PRESIDENT'S COMPENSATION WAS BENCHMARKED BY THE SEARCH FIRM USED TO ASSIST IN THE HIRING PROCESS OF THE PRESIDENT. THE PRESIDENT ROLE AND COMPENSATION WAS APPROVED FOR A SECOND TERM BY THE EXECUTIVE SESSION OF THE BOARD ON APRIL 26, 2021. LINE 15B: PROCESS FOR DETERMINING COMPENSATION OF OFFICERS & KEY EMPLOYEES: DURING THE 2020-2021 FISCAL YEAR THE UNIVERSITY WAS IMPACTED BY THE COVID HEALTH EMERGENCY / PANDEMIC. THE REVIEW OF COMPENSATION OF ALL OFFICERS WAS DEFERRED DUE TO BUDGET CONSTRAINTS BECAUSE OF THE COVID HEALTH EMERGENCY. SALARY DATA WILL BE BENCHMARKED IN 2023 USING CUPA AND PAISBOA SALARY SURVEY INFORMATION FOR ADMINISTRATORS IN HIGHER EDUCATION AND WILL BE SET WITHIN THE CONSTRAINTS OF THE BOARD OF TRUSTEE'S APPROVED OPERATING BUDGET. A PRIOR BENCHMARK WAS RELIED ON IN THE INTERIM. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC AVAILABILITY OF GOVERNING DOCUMENTS, COI POLICY, AND FINANCIALS: THE UNIVERSITY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. SISTERS SERVANTS OF IHM VILLA MARIA GENERALATE 1140 KING RO IMMACULATA PA 19345 231352569 RELIGIOUS PA 501(C)(3) LINE 2 N/A 0 ENSERV INC PO BOX 665 IMMACULATA PA 19345 232731906 WATER TREATMENT PA 501(C)(3) LINE 2 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1