2023-05-11T15:34:00-05:00 2022-06-30 410746749 CLIFTONLARSONALLEN LLP TWO INTERNATIONAL PLACE 22ND FLOOR BOSTON MA 02110 990 2021-07-01 221912028 FELICIAN UNIVERSITY FELI 2015596000 262 SOUTH MAIN STREET LODI NJ 07644 THOMAS TRUCHAN VP OF FINANCE & CFO 2015596000 2023-05-11 1 THOMAS TRUCHAN 999009999 LAURA J KENNEY P00202198 6177170831 2023-05-11 0 AAL1 IAL1 2021 2023-04-26 12:10:37Z DR MILDRED MIHLON 262 SOUTH MAIN STREET LODI NJ 07644 103274499 0 X WWW.FELICIAN.EDU X 1942 NJ EDUCATING A DIVERSE STUDENT POPULATION WITHIN A LIBERAL ARTS FRAMEWORK. 20 18 824 22 0 0 5002579 17096153 68734552 68637591 1507837 1923559 490359 4661179 75735327 92318482 28788656 29789216 0 0 25546268 30775603 0 0 957891 19060064 24621548 73394988 85186367 2340339 7132115 102314365 100210159 42924080 37493484 59390285 62716675 X FELICIAN UNIVERSITY IS AN INDEPENDENT CO-EDUCATIONAL CATHOLIC/FRANCISCAN UNIVERSITY FOUNDED AND SPONSORED BY THE FELICIAN SISTERS TO EDUCATE A DIVERSE POPULATION OF STUDENTS WITHIN THE FRAMEWORK OF A LIBERAL ARTS TRADITION. (CONTINUED ON SCHEDULE O.) ITS MISSION IS TO PROVIDE A FULL COMPLEMENT OF LEARNING EXPERIENCES, REINFORCED WITH STRONG ACADEMIC AND STUDENT DEVELOPMENT PROGRAMS DESIGNED TO BRING STUDENTS TO THEIR HIGHEST POTENTIAL AND PREPARE THEM TO MEET THE CHALLENGES OF THE NEW CENTURY WITH INFORMED MINDS AND UNDERSTANDING HEARTS. THE ENDURING PURPOSE OF FELICIAN UNIVERSITY IS TO PROMOTE A LOVE FOR LEARNING, A DESIRE FOR GOD, SELF-KNOWLEDGE, SERVICE TO OTHERS, AND RESPECT FOR ALL CREATION. 0 0 75160205 29789216 68637591 FELICIAN UNIVERSITY CONTINUES TO ENROLL STUDENTS THROUGHOUT THE TRI-STATE REGION AND THE WORLD. ACADEMIC PROGRAM DIVERSITY IN AREAS SUCH AS NURSING, EDUCATION, CYBERSECURITY, AND THE 5-YEAR MBA PROGRAM AS WELL AS THE ADDITION OF DOCTORAL PROGRAMS ARE ATTRACTING AN INCREASINGLY DIVERSIFIED STUDENT POPULATION. THE UNIVERSITY ENROLLED 6,122 STUDENTS IN THE 2021-22 ACADEMIC YEAR. REFURBISHED RESIDENCE HALLS, STATE OF THE ART SCIENCE LABORATORIES AND THE MODIFICATIONS TO THE STUDENT CENTER ON THE RUTHERFORD CAMPUS HAVE EXPANDED STUDENT LIFE ACTIVITIES WHICH HAVE RESULTED IN A STRONG INCREASE IN CAMPUS COMMUNITY AND RETENTION. 75160205 1 1 0 1 0 0 0 0 0 1 1 0 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 1 0 0 0 0 0 0 0 1 0 0 0 1 2561 0 1 824 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 20 18 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X THOMAS TRUCHAN 2016556094 262 SOUTH MAIN STREET LODI NJ 07644 JAMES W CRAWFORD III PRESIDENT 45.00 0.00 X X 378000 0 43975 DR ANNE PRISCO FORMER OFFICER - PRESIDENT 0.00 0.00 X 349260 0 0 THOMAS TRUCHAN VICE PRESIDENT OF FINANCE & CFO 45.00 0.00 X 177879 0 32457 PRISCILLA KLYMENKO VICE PRESIDENT OF ENROLLMENT MGT. 45.00 0.00 X 148683 0 51835 DAVID TURI ASSOCIATE DEAN OF BUSINESS 45.00 0.00 X 160354 0 15379 MAURA DENICOLA VICE PRESIDENT OF COMMUNICATIONS 45.00 0.00 X 137106 0 30246 STEPHANIE MCGOWAN DEAN OF SCHOOL OF EDUCATION 45.00 0.00 X 146927 0 6818 ANTHONY SCARDINO ASSOCIATE DEAN 45.00 0.00 X 148000 0 5137 JAMES R D'AGOSTINO JR JD BOARD CHAIR 1.00 0.00 X X 0 0 0 MONIQUE EDWARDS JD VICE CHAIR 1.00 0.00 X X 0 0 0 SISTER MARY AQUINAS SZOTT CSSF TRUSTEE 1.00 0.00 X 0 0 0 SISTER MARY JUANITA CSSF TRUSTEE 1.00 0.00 X 0 0 0 SISTER SUZANNE KUSH CSSF TRUSTEE 1.00 0.00 X 0 0 0 RICHARD B ARTMAN PHD TRUSTEE 1.00 0.00 X 0 0 0 THOMAS BELLAVIA MD TRUSTEE 1.00 0.00 X 0 0 0 CHARLENE BROWN TRUSTEE 1.00 0.00 X 0 0 0 J FLETCHER CREAMER TRUSTEE 1.00 0.00 X 0 0 0 SAM DELGADO TRUSTEE 1.00 0.00 X 0 0 0 ULISES DIAZ TRUSTEE 1.00 0.00 X 0 0 0 COLLEEN FRANKENFIELD MS JD TRUSTEE 1.00 0.00 X 0 0 0 GAIL B GORDON ESQ TRUSTEE 1.00 0.00 X 0 0 0 DONALD JONES TRUSTEE 1.00 0.00 X 0 0 0 ALEX E KRASNOMOWITZ TRUSTEE 1.00 0.00 X 0 0 0 BETH LENKE TRUSTEE 1.00 0.00 X 0 0 0 MARILYN SCALO TRUSTEE 1.00 0.00 X 0 0 0 ANTHONY SCARDINO JR TRUSTEE 1.00 0.00 X 0 0 0 SCOTT THOMAS JD TRUSTEE 1.00 0.00 X 0 0 0 MIRIAM M DUSTY BURKE TRUSTEE TO SEP 2021 1.00 0.00 X 0 0 0 KATHY J DODSWORTH RUGANI TRUSTEE TO SEP 2021 1.00 0.00 X 0 0 0 CHRISTOPHER SWENSON TRUSTEE TO SEP 2021 1.00 0.00 X 0 0 0 1646209 0 185847 48 1 1 0 CHARTWELLS DINING SERVICES 2 INTERNATIONAL DR RYE BROOK NY 10573 DINING SERVICES 1560919 C&W FACILITY SERVICES INC 140 KENDRICK ST BLDG C WEST 201 NEEDHAM MA 02494 FACILITY SERVICES 830031 ASSESSMENT TECHNOLOGIES INSTITUTE 11161 VOERBROOK RD LEAWOOD KS 66211 EDUCATIONAL SERVICES 283551 TLP CLIMATE CONTROL SYSTEMS INC 400 RIKE DR MILLSTONE TOWNSHIP NJ 08535 CONSTRUCTION SERVICES 235082 GLENCOM SYSTEMS INC 25 EAST PRICE STREET LINDEN NJ 07036 INFORMATION TECHNOLOGY SERVICES 218348 25 50809 92558 16174369 778417 17096153 TUITION AND FEES 611310 63699643 63699643 AUXILIARY ENTERPRISES 611710 4832232 4832232 ADMINISTRATIVE FEES 611710 57711 57711 STUDY ABROAD FEES 611710 48005 48005 68637591 439481 439481 221984 0 221984 221984 221984 12272785 26259 10809178 5788 1463607 20471 1484078 1484078 32741 50809 141051 -108310 -108310 PPP LOAN FORGIVENESS 900099 4330100 4330100 COMMISSIONS 900099 23988 23988 193417 193417 4547505 92318482 68637591 0 6584738 29789216 29789216 622236 622236 173107 173107 23673428 20971774 2309613 392041 677539 527749 134238 15552 3696412 2821326 792486 82600 1932881 1468642 421256 42983 99011 82092 16919 138773 138773 121429 121429 2552228 1085593 1446444 20191 439933 435061 3048 1824 911863 818300 65776 27787 1494133 1343669 117847 32617 3959733 2872442 1013403 73888 539576 492653 14837 32086 340541 302774 28653 9114 867133 663292 184428 19413 4401219 3366604 936080 98535 576442 440157 123410 12875 FOOD SERVICES 1994280 1940642 33951 19687 BAD DEBTS 1054752 1054752 MEMBERSHIPS & LICENSES 767692 626353 122061 19278 RECRUITING 453413 445987 6780 646 3909397 3438020 414603 56774 85186367 75160205 9068271 957891 916156 914009 6397026 1377549 2241853 9105906 4501444 3910748 684245 12634 10521 1319402 555701 119356455 51379440 67631385 67977015 18351860 16351210 258360 7500 102314365 100210159 7083094 6892241 1519368 1979850 575169 545606 30892814 41572 2853635 28034215 42924080 37493484 X 44740003 50624937 14650282 12091738 59390285 62716675 102314365 100210159 7132115 -3805725 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 9621 9621 0 PART II-B, LINE 1: THE UNIVERSITY PAYS DUES TO THE INDEPENDENT COLLEGE FUND OF NEW JERSEY, A PORTION OF WHICH ARE USED FOR LOBBYING. 17905017 37878 -2131211 283137 315662 15212885 14818148 1481 3718914 270428 363098 17905017 14102821 224437 1088575 246072 351613 14818148 13706268 2583 984077 232729 357378 14102821 12698538 435184 1142613 218022 352045 13706268 0.39782 0.00000 0.60217 0 0 1361945 1361945 86753461 32414251 54339210 21394621 16801187 4593434 9846428 2164002 7682426 67977015 NOTES PAYABLE TO RELATED PARTY 25400746 CAPITAL LEASES 2620969 SECURITY DEPOSITS 12500 28034215 X 59284687 -3805725 141051 -3664674 62949361 121429 29247692 29369121 92318482 55958297 141051 141051 55817246 121429 29247692 29369121 85186367 PART V, LINE 4: ENDOWMENT FUNDS ARE USED TO FURTHER THE UNIVERSITY'S EXEMPT PURPOSE. PART X, LINE 2: THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND A SIMILAR PROVISION OF THE NEW JERSEY STATE INCOME TAX LAWS. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN REFLECTED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE UNIVERSITY HAS NO UNRECOGNIZED TAX BENEFITS AT JUNE 30, 2022. THE UNIVERSITY'S FEDERAL AND STATE TAX FILINGS PRIOR TO FISCAL YEAR 2019 ARE CLOSED AND MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW, AND NEW AUTHORITATIVE RULINGS. THE UNIVERSITY RECOGNIZES INTEREST AND PENALTIES ASSOCIATED WITH TAX MATTERS AS OPERATING EXPENSES AND INCLUDES ACCRUED INTEREST AND PENALTIES WITH ACCRUED EXPENSES IN THE STATEMENT OF FINANCIAL POSITION. THERE WAS NO INTEREST AND PENALTIES PAID FOR THE YEAR ENDED JUNE 30, 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EVENT EXPENSES 141,051. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND OTHER ASSISTANCE 29,247,692. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EVENT EXPENSES 141,051. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND OTHER ASSISTANCE 29,247,692. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE UNIVERSITY PUBLISHES ITS NONDISCRIMINATORY POLICY ON ITS WEBSITE AT HTTPS://FELICIAN.EDU/CAMPUS-LIFE/CAMPUS-SAFETY/ANTI-DISCRIMINA TION-POLICY/. SCHEDULE E, PART I, LINE 6 FELICIAN UNIVERSITY RECEIVES FEDERAL AND STATE AID TO ASSIST OUR STUDENTS. GALA 66575 39884 26691 9802 124099 HALL OF FAME 16975 10925 6050 7150 83550 50809 32741 16952 124099 141051 -108310 1 SCHOLARSHIPS 2336 26978091 0 MERIT AWARDS 445 1136246 0 HIGHER EDUCATION EMERGENCY RELIEF FUND (HEERF) GRANTS 655 933141 0 TUITION DISCOUNT 165 734278 0 OTHER GRANTS AND ASSISTANCE 3 7460 0 PART I, LINE 2: THE UNIVERSITY HAS WRITTEN POLICIES REGARDING THE AWARDING OF SPECIFIC GRANTS AND SCHOLARSHIP FUNDS. SELECTION CRITERIA AND ELIGIBILITY IS DETERMINED BASED ON THE TYPE, PURPOSE, AND/OR RESTRICTION OF THE AWARD. ALL FINANCIAL ASSISTANCE IS AWARDED IN AN OBJECTIVE AND NONDISCRIMINATORY MANNER. AWARDS ARE APPLIED DIRECTLY TO STUDENT ACCOUNTS. X 1 0 X X X X X 1 0 0 0 0 0 0 1 0 JAMES W CRAWFORD III PRESIDENT 325000 0 40000 0 13000 0 3769 0 40206 0 421975 0 0 0 DR ANNE PRISCO FORMER OFFICER - PRESIDENT 0 0 0 0 349260 0 0 0 0 0 349260 0 0 0 THOMAS TRUCHAN VICE PRESIDENT OF FINANCE & CFO 176879 0 1000 0 0 0 7400 0 25057 0 210336 0 0 0 PRISCILLA KLYMENKO VICE PRESIDENT OF ENROLLMENT MGT. 147683 0 1000 0 0 0 6600 0 45235 0 200518 0 0 0 DAVID TURI ASSOCIATE DEAN OF BUSINESS 159354 0 1000 0 0 0 4041 0 11338 0 175733 0 0 0 MAURA DENICOLA VICE PRESIDENT OF COMMUNICATIONS 136106 0 1000 0 0 0 6000 0 24246 0 167352 0 0 0 STEPHANIE MCGOWAN DEAN OF SCHOOL OF EDUCATION 145927 0 1000 0 0 0 5630 0 1188 0 153745 0 0 0 ANTHONY SCARDINO ASSOCIATE DEAN 146750 0 1250 0 0 0 3595 0 1542 0 153137 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: THE PRESIDENT OF THE UNIVERSITY IS PROVIDED HOUSING AS REQUIRED AS A CONDITION OF EMPLOYMENT. THE FAIR RENTAL VALUE OF THE HOUSING AND UTILITIES PAID BY THE UNIVERSITY IS $40,176 IS TREATED AS NONTAXABLE AND IS INCLUDED IN THE AMOUNT REPORTED ON SCHEDULE J, PART II, COLUMN D. PART I, LINE 4A DR. ANNE PRISCO, FORMER PRESIDENT, WAS PAID $330,000 OF SEVERANCE. THIS AMOUNT IS INCLUDED IN SCHEDULE J, PART II, COLUMN B(III). PART I, LINE 7 A ONE-TIME BONUS WAS PAID TO ALL FACULTY AND STAFF ACTIVELY EMPLOYED ON JULY 1, 2021, EXCLUDING THE PRESIDENT. THE BONUS AMOUNT WAS DETERMINED BY THE EMPLOYEE'S SALARY. A NEW JERSEY EDUCATIONAL FACILITIES AUTHORITY 221829511 2014-04-29 465517 CAPITAL IMPROVEMENTS 0 0 0 B NEW JERSEY EDUCATIONAL FACILITIES AUTHORITY 221829511 2016-12-20 250000 CAPITAL IMPROVEMENTS 0 0 0 A 125263 465517 465517 2015 0 0 1 1 B 44648 250000 250000 2018 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 1725010 SERVICES 0 SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 729040 SERVICES 0 ANTHONY SCARDINO TRUSTEE'S SON 173107 EMPLOYMENT 0 FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE CONSISTS OF THE PRESIDENT, THE CHAIRPERSON, A DESIGNEE OF THE SOLE MEMBER, AND OTHER MEMBERS OF THE BOARD APPROVED BY THE BOARD. THE EXECUTIVE COMMITTEE HAS THE AUTHORITY TO EXERCISE ALL THE POWER OF THE BOARD, EXCEPT TO (A) SUBMIT TO THE SOLE MEMBER ANY ACTION THAT REQUIRES THE SOLE MEMBER'S APPROVAL; AND (B) AMEND OR REPEAL ANY RESOLUTION PREVIOUSLY ADOPTED BY THE BOARD. THE ACTION OF THE EXECUTIVE COMMITTEE MUST BE REPORTED AT THE FIRST REGULAR MEETING OF THE BOARD WHICH FOLLOWS THE ACTION OF THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION A, LINE 6 THE UNIVERSITY'S SOLE MEMBER IS FELICIAN SERVICES, INC., A 501(C)(3) ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7A THE SOLE MEMBER, FELICIAN SERVICES, INC., APPOINTS ALL MEMBERS OF THE BOARD OF TRUSTEES, FORM 990, PART VI, SECTION A, LINE 7B THE SOLE MEMBER SHALL HAVE THE SOLE AUTHORITY TO INITIATE AND APPROVE ACTIONS AS FOLLOWS: (A) TO ADOPT, ALTER, AMEND, OR REPEAL THE CERTIFICATE OF INCORPORATION OR THE BYLAWS OF THE CORPORATION AFTER CONSULTATION WITH THE BOARD; (B) TO ADOPT OR REVISE THE STATEMENTS OF PHILOSOPHY, MISSION, OR PURPOSE OF THE CORPORATION AFTER CONSULTATION WITH THE BOARD; (C) TO MERGE, CONSOLIDATE, DISSOLVE, OR OTHERWISE CHANGE THE CORPORATE STRUCTURE OF THE CORPORATION AFTER CONSULTATION WITH THE BOARD; (D) TO AUTHORIZE THE SALE, LEASE, EXCHANGE, OR OTHER DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF THE ASSETS OF THE CORPORATION AFTER CONSULTATION WITH THE BOARD; (E) TO AUTHORIZE THE CORPORATION TO INCUR ANY INDEBTEDNESS (OTHER THAN TRADE OBLIGATIONS INCURRED IN THE REGULAR COURSE OF BUSINESS), GUARANTEE ANY INDEBTEDNESS OF ANOTHER ENTITY, OR ALLOW ANY PROPERTY OF THE CORPORATION TO SECURE ANY INDEBTEDNESS AFTER CONSULTATION WITH THE BOARD; (F) TO APPROVE THE PURCHASE, TRANSFER, SALE, LONG-TERM LEASE, OR ENCUMBRANCE OF ANY REAL PROPERTY OWNED BY THE CORPORATION AFTER CONSULTATION WITH THE BOARD; (G) TO APPROVE THE CREATION OF, OR THE PURCHASE OF AN EQUITY INTEREST IN, ANY LEGAL ENTITY, OR TO APPROVE ENTERING INTO ANY PARTNERSHIP OR JOINT VENTURE (REGARDLESS OF ITS LEGAL FORM), OTHER THAN PASSIVE INVESTMENTS BY THE CORPORATION; (H) TO APPROVE, UPON RECOMMENDATION OF THE BOARD, AN ANNUAL OPERATING BUDGET, AND ANY CAPITAL BUDGET, OF THE CORPORATION; (I) TO APPROVE ANY UNBUDGETED OPERATING OR CAPITAL EXPENDITURES IN EXCESS OF $100,000 AFTER CONSULTATION WITH THE BOARD; J) TO APPOINT, ELECT, OR REMOVE MEMBERS OF THE BOARD (EACH A"TRUSTEE"), WITH OR WITHOUT CAUSE, OR DETERMINE THE NUMBER OF TRUSTEES OF THE CORPORATION AFTER CONSULTATION WITH THE BOARD; (K) TO APPOINT AND REMOVE, WITH OR WITHOUT CAUSE, THE CHAIRPERSON OF THE BOARD (THE "CHAIRPERSON") AFTER CONSULTATION WITH THE BOARD; (1) TO APPOINT, ELECT, OR REMOVE, WITH OR WITHOUT CAUSE, THE OFFICERS OF THE CORPORATION; (M) TO APPROVE, UPON RECOMMENDATION OF THE BOARD, THE SELECTION OF THE INDEPENDENT AUDITORS OF THE CORPORATION; (N) TO ASSURE THAT ALL ACTIONS OF THE CORPORATION ARE CONSISTENT WITH THE PURPOSES OF THE CONGREGRATION OF THE SISTERS OF ST. FELIX OF CANTALICE; (O) TO CARRY OUT PERIODIC EVALUATIONS OF THE CORPORATION AND TO OTHERWISE MONITOR THE ACCOMPLISHMENT OF THE GOALS AND THE ADHERENCE TO THE PHILOSOPHY OF THE CORPORATION; (P) TO APPROVE, UPON RECOMMENDATION OF THE BOARD, THE LONG-TERM AND STRATEGIC PLANS OF THE CORPORATION; (Q) TO APPROVE ANY ACTS OF EXTRAORDINARY ADMINISTRATION UNDER THE CANON LAW OF THE ROMAN CATHOLIC CHURCH; AND (R) TO AUTHORIZE THE BOARD TO AWARD HONORARY DEGREES, AFTER CONSULTATION WITH THE BOARD, AND IN TESTIMONY THEREOF GIVE SUITABLE DIPLOMAS AND CE1TIFICATES, UNDER THE SEAL AND THE SIGNATURE OF SUCH OFFICERS OF THE CORPORATION AND THE SOLE MEMBER AS THEY SHALL DEEM EXPEDIENT. FORM 990, PART VI, SECTION B, LINE 11B THE UNIVERSITY PROVIDES A COMPLETED FORM 990 TO ALL TRUSTEES WITH A SUFFICIENT AMOUNT OF TIME TO REVIEW PRIOR TO SUBMISSION TO THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY APPLIES TO ALL TRUSTEES AND OFFICERS OF THE UNIVERSITY AND MEMBERS OF COMMITTEES WITH BOARD DESIGNATED POWERS. AFTER DISCLOSING A POTENTIAL CONFLICT TO THE BOARD OR COMMITTEE, THE INTERESTED PERSON MUST 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 DECIDE IF A CONFLICT OF INTEREST EXISTS. IF APPROPRIATE, THE CHAIR OF THE BOARD OR COMMITTEE MAY APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY ATTAINABLE UNDER CIRCUMSTANCES THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST, THE BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE UNIVERSITY'S BEST INTEREST AND FOR ITS OWN BENEFIT AND WHETHER THE TRANSACTION IS FAIR AND REASONABLE TO THE UNIVERSITY AND SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT IN CONFORMITY WITH SUCH DETERMINATION. EACH TRUSTEE ANNUALLY SIGNS A STATEMENT WHICH AFFIRMS THAT SUCH PERSON HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, READ AND UNDERSTANDS THE POLICY, AND HAS AGREED TO COMPLY WITH THE POLICY. THE CONFLICT OF INTEREST POLICY INCLUDES A DUTY TO DISCLOSE POTENTIAL CONFLICTS AS THEY ARISE. FORM 990, PART VI, SECTION B, LINE 15 FORM 990, PART VI, SECTION B, LINE 15A: THE PRESIDENT'S COMPENSATION WAS REVIEWED AND APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD PRIOR TO HIS HIRING IN 2021. AN EXECUTIVE COMPENSATION CONSULTING FIRM PROVIDED COMPENSATION INFORMATION FOR THE POSITION OF PRESIDENT OF A GROUP OF COLLEGES AND UNIVERSITIES SIMILARLY SITUATED TO FELICIAN UNIVERSITY BASED ON THE SIZE OF THE INSTITUTION, NUMBER OF STUDENTS, POPULATION, ANNUAL REVENUES, FUNDING, AND GEOGRAPHIC LOCATION. THE COMPENSATION INFORMATION CAME FROM SOURCES INCLUDING THE FORMS 990 FILED BY THE PEER GROUP INSTITUTIONS, SALARY DATA ON WEBSITES, AND OTHER INFORMATION IN THE COMPENSATION CONSULTANT'S DATABASE. THE DELIBERATION AND DECISION WAS TIMELY DOCUMENTED IN THE MINUTES OF THE COMPENSATION COMMITTEE MEETING. FORM 990, PART VI, SECTION B, LINE 15B: THE PRESIDENT DETERMINES THE COMPENSATION FOR ALL THE OFFICERS AND TOP MANAGEMENT, SUBJECT TO APPROVAL BY THE COMPENSATION COMMITTEE. COMPENSATION AT PEER INSTITUTIONS AND DATA PROVIDED BY A COMPENSATION CONSULTANT ARE USED TO DETERMINE COMPENSATION FOR EACH EMPLOYMENT POSITION. THE DELIBERATION AND DECISION WAS TIMELY DOCUMENTED IN THE MINUTES OF THE COMPENSATION COMMITTEE MEETING. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY MAINTAINS A PROCEDURE WHERE ANY PERSON REQUESTING INFORMATION ON THE UNIVERSITY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS WILL BE REFERRED TO THE OFFICE OF THE PRESIDENT. OFFICE OF THE PRESIDENT WILL DOCUMENT THE REQUEST AND WITHIN A REASONABLE AMOUNT OF TIME, MAKE COPIES AVAILABLE TO THE REQUESTOR IF APPROPRIATE. FELICIAN SERVICES INC 3800 W PETERSON AVENUE CHICAGO IL 60659 363685438 SUPPORT SPONSORED MINISTRIES OF FELICIAN SISTERS' OUR LADY OF HOPE PROVINCE IL 501(C)(3) LINE 1 THE CONGREGATION OF THE SISTERS OF ST FELIX OF CANTALICE OUR LADY OF HOPE 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0