2023-05-15T06:55:55-05:00 2022-06-30 135565207 KPMG LLP 60 SOUTH STREET BOSTON MA 02111 990 2021-07-01 050258932 PROVIDENCE COLLEGE PROV 4018651000 ONE CUNNINGHAM SQUARE PROVIDENCE RI 02918 JOHN M SWEENET SR VP FINANCE/CFO 4018652281 2023-05-09 1 JOHN SWEENET 999009999 SMITA BALIGA P01643271 6179881000 2023-05-05 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z REV KENNETH R SICARD O ONE CUNNINGHAM SQUARE PROVIDENCE RI 02918 424037667 0 X WWW.PROVIDENCE.EDU X 1917 RI SEE SCHEDULE OPROVIDENCE COLLEGE IS A CATHOLIC, DOMINICAN, LIBERAL ARTS INSTITUTION OF HIGHER EDUCATION AND A COMMUNITY COMMITTED TO ACADEMIC EXCELLENCE. 38 34 2711 39 748651 0 30238417 37057188 274133730 297861470 20596965 24583942 2782787 4561466 327751899 364064066 89290305 94601527 0 0 114740206 126720744 134259 153082 5780187 97687509 110259475 301852279 331734828 25899620 32329238 914914351 896934054 243641869 244959390 671272482 651974664 X SEE SCHEDULE O. 0 0 269254015 94601527 299869838 SEE SCHEDULE O 269254015 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 1 1 1 0 0 1 5651 0 1 2711 1 1 1 0 0 0 0 1 1 0 0 0 0 1 0 X 38 34 0 0 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 CO KY MA MI NH PA SC X JOHN SWEENEY SVP FINANCECFO 4018652281 ONE CUNNINGHAM SQUARE PROVIDENCE RI 02918 ANN MANCHESTER-MOLAK EVP & TRUSTEE 40.00 X X 360807 0 44173 REV KENNETH R SICARD OP PRESIDENT & TRUSTEE 40.00 X X 0 0 69254 KARL W ANDERSON TRUSTEE 2.00 X 0 0 0 REV FRANCIS BELANGER TRUSTEE 2.00 X 0 0 0 JOSEPH M CALABRIA JR TRUSTEE 2.00 X 0 0 0 JOHN A CERVIONE TRUSTEE 2.00 X 0 0 0 GREGORY S CHRISTENSON TRUSTEE 2.00 X 0 0 0 ROBERT J CLARK TRUSTEE 2.00 X 0 0 0 RUDOLPH CLINE-THOMAS TRUSTEE 2.00 X 0 0 0 WILLIAM F CONCANNON TRUSTEE 2.00 X 0 0 0 MAUREEN DAVENPORT CORCORAN TRUSTEE 2.00 X 0 0 0 JOHN P DAWLEY TRUSTEE 2.00 X 0 0 0 COLLEEN M DUFFY BOARD SECRETARY 3.00 X X 0 0 0 SUSAN M ESPER BOARD V CHAIR/AUDIT COMM CHAIR 2.00 X X 0 0 0 HENRY C FOLEY TRUSTEE 2.00 X 0 0 0 RICHARD E GOTHAM TRUSTEE 2.00 X 0 0 0 V REV ACQUINAS GUILBEAU OP TRUSTEE 2.00 X 0 0 0 JOHN J HOULIHAN TRUSTEE 2.00 X 0 0 0 MICHAEL J JOYCE TRUSTEE 2.00 X 0 0 0 DOUGLAS A KINGSLEY TRUSTEE 2.00 X 0 0 0 DENNIS J LANGWELL TRUSTEE 2.00 X 0 0 0 TERESA A LAVOIE TRUSTEE 2.00 X 0 0 0 V REV KENNETH R LETOILLE OP TRUSTEE 2.00 X 0 0 0 MARTA V MARTINEZ TRUSTEE 2.00 X 0 0 0 REV MICHAEL A MASCARI TRUSTEE 2.00 X 0 0 0 JOHN R MCCARTHY TRUSTEE 2.00 X 0 0 0 ANDRE E OWENS ESQ TRUSTEE 2.00 X 0 0 0 VERY REV THOMAS PETRI OP STD TRUSTEE 2.00 X 0 0 0 KEVIN C PHELAN TRUSTEE 2.00 X 0 0 0 JOHN J POWERS TRUSTEE 2.00 X 0 0 0 KEVIN P QUIRK TRUSTEE 2.00 X 0 0 0 CHRISTOPHER K REILLY BOARD CHAIR 2.00 X X 0 0 0 MEGAN C SMITH TRUSTEE 2.00 X 0 0 0 MOST REV THOMAS J TOBIN DD TRUSTEE 2.00 X 0 0 0 CHRISTOPHER F VIRGULAK TRUSTEE 4.00 X 0 0 0 MARK T VOLL TRUSTEE 2.00 X 0 0 0 CHRISTOPHER J WALKER TRUSTEE 2.00 X 0 0 0 MONICA DENISE WOMACK TRUSTEE 2.00 X 0 0 0 ROBERT DRISCOLL VP & DIRECTOR OF ATHLETICS 40.00 X 531165 0 99896 GREGORY WALDRON SR VP INSTIT. ADVANCEMENT 40.00 X 472323 0 52988 JOHN SWEENEY SR VP FINANCE & BUSINESS/CFO 40.00 X 408088 0 49553 SEAN REID SR VP ACADEMIC AFFAIRS/PROVOST 40.00 X 378906 0 45648 STEVEN SEARS VP STUDENT AFFAIRS 40.00 X 293412 0 21948 CHRISTOPHER NERONHA VP & GEN COUNSEL 40.00 X 273559 0 27056 KYLE MCINNIS SR. ADVISOR TO PRES (AS OF 11.30.21) 40.00 X 29964 0 3732 REV JAMES CUDDY OP VP MISSION & MINISTRY 40.00 X 0 0 31032 REV KEVIN D ROBB OP TREASURER 40.00 X 0 0 10440 EDWARD COOLEY MENS BASKETBALL COACH 40.00 X 3633128 0 162867 NATHAN LEAMAN MENS HOCKEY COACH 40.00 X 608700 0 107889 JAMES CROWLEY WOMEN'S BASKETBALL COACH 40.00 X 446364 0 53628 SYLVIA MAXFIELD DEAN SCHOOL OF BUSINESS 40.00 X 342443 0 43812 STEVEN NAPOLILLO ASST VP/SR ASSOC AD EXT RE 40.00 X 305681 0 40012 KRISTINE GOODWIN VP STUDENT AFFAIRS (THRU 6.30.20) 40.00 X 240786 0 44414 HUGH LENA SR VP ACAD AFF/PROVOST (THRU 6.30.21) 40.00 X 169850 0 19886 8495176 0 928228 253 1 1 0 FARRAR & ASSOCIATES 31A BRIDGE STREET NEWPORT RI 02840 CONSTRUCTION MANAGEMENT SERVICES 19607457 SODEXO INC 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20878 FOOD SERVICES 12650424 UG2 LLC 2 COPLEY PLACE TOWER 2 SUITE 110 BOSTON MA 02116 JANITORIAL SERVICES 5108821 UNITED HEALTHCARE INSURANCE CO 9900 BREN RD E MINNETKONKA MN 55343 ADMINISTRATIVE SERVICES 1701657 JOSEPH TAVONE INCORPORATED 69 BATH STREET PROVIDENCE RI 02908 ADMINISTRATIVE SERVICES 1545876 79 905375 15745598 20406215 1204178 37057188 TUITION AND FEES 611600 234239023 234239023 ROOM REVENUE 721000 33392996 33392996 BOARD REVENUE 721000 18488469 18488469 ATHLETICS REVENUE 900099 11636856 11636856 AUXILARY REVENUE 721000 104126 104126 297861470 1409890 432771 977119 613203 613203 169200 125693 43507 43507 43507 82589738 59415686 23174052 23174052 23174052 302472 905375 432222 -129750 -129750 COMMISSIONS 611310 1030592 1030592 SODEXO 611310 655555 655555 PACT PROGRAM 611310 500147 500147 1848212 852666 315880 679666 4034506 364064066 299869838 748651 26388389 199583 199583 94401944 94401944 3534137 1585894 1502025 446218 98043 98043 93040322 66619285 23532369 2888668 9416569 6688093 2362479 365997 13752988 9753357 3445243 554388 6878685 4873848 1721621 283216 84974 84974 331200 331200 25500 18844 6656 153082 153082 2866268 2866268 6385596 4597035 1623841 164720 802217 592814 209403 2579140 1837340 649016 92784 4636751 3426416 1210335 5674725 4193446 1481279 1379262 857779 302999 218484 6475387 4785111 1690276 23141697 17060109 6026255 55333 1600254 1182538 417716 FOOD SERVICE 14768754 14574141 118773 75840 BUILDING AND GROUND MAI 11520617 8513380 3007237 ATHLETICS AND GAMES SUP 5923742 5923742 RENTALS 4182714 3090896 1091818 17880677 14380377 3018843 481457 331734828 269254015 56700626 5780187 34488518 28480795 14250451 14547658 6964799 8040936 2857 2320330 1386590 890640773 388497040 460284672 502143733 124616679 62827777 265896852 274160723 6089193 5345842 914914351 896934054 21361038 32192660 15719599 15634168 201774986 193560440 315846 4470400 3572122 243641869 244959390 X 407180999 407605777 264091483 244368887 671272482 651974664 914914351 896934054 X 32329238 -51603865 -23191 X 0 1 X 1 1 1 X 17878764 21325239 20466943 30238417 37057188 126966551 17878764 21325239 20466943 30238417 37057188 126966551 126966551 3910472 5602290 2683035 1850302 1759522 15805621 332977 332977 3709388 3670789 2679709 2808090 4336979 17204955 160310104 1377759226 0.79200 0.76550 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: COMMISSIONS - 2017 AMOUNT: $ 734,781. 2018 AMOUNT: $ 807,426. 2019 AMOUNT: $ 728,526. 2020 AMOUNT: $ 809,164. 2021 AMOUNT: $ 1,030,592. PACT PROGRAM - 2017 AMOUNT: $ 542,293. 2018 AMOUNT: $ 522,858. 2019 AMOUNT: $ 379,423. 2020 AMOUNT: $ 429,504. 2021 AMOUNT: $ 500,147. OTHER REVENUE - 2017 AMOUNT: $ 2,189,675. 2018 AMOUNT: $ 2,133,984. 2019 AMOUNT: $ 1,445,260. 2020 AMOUNT: $ 1,236,002. 2021 AMOUNT: $ 2,503,767. FUND RAISING REVENUE - 2017 AMOUNT: $ 242,639. 2018 AMOUNT: $ 206,521. 2019 AMOUNT: $ 126,500. 2020 AMOUNT: $ 333,420. 2021 AMOUNT: $ 302,473. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 25500 25500 0 PART II-B, LINE 1: PROVIDENCE COLLEGE PAYS ADVOCACY SOLUTIONS & POLICASTRO GROUP LLC TO SUPPORT INITIATIVES OF THE COLLEGE WHICH INCLUDE LOBBYING ACTIVITIES. 320617453 37506942 -28313175 5335698 7577148 316898374 231720254 7254132 93810553 5187862 6979624 320617453 234228360 4050089 4083127 4929874 5711448 231720254 238528635 10626654 8696420 4757585 18865764 234228360 221071443 16959609 11347583 4565851 6284149 238528635 0.32000 0.37000 0.31000 1 0 5575655 5575655 723388969 309658709 413730260 87805757 71974323 15831434 73870392 6864008 67006384 502143733 LIMITED PARTNERSHIPS 112655088 F HEDGE FUNDS 160649313 F OTHER INVESTMENTS 800000 F DEPOSITS WITH TRUSTEES 56322 F 274160723 ACCRUED INTEREST PAYABLE 1293598 REFUNDABLE ADVANCE-GOVT GRANT 2278524 3572122 X 310947856 -51603865 819200 -23191 -50807856 361755712 2866269 -557915 2308354 364064066 330245675 819200 557915 1377115 328868560 2866269 2866269 331734829 PART V, LINE 4: THE INTENDED USE OF THE COLLEGE'S ENDOWMENT IS TO FUND STUDENT SCHOLARSHIPS AND PROJECTS. PART X, LINE 2: THE COLLEGE IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE, AS AMENDED. ACCORDINGLY, IT IS GENERALLY NOT SUBJECT TO INCOME TAXES EXCEPT TO THE EXTENT IT HAS TAXABLE INCOME FROM ACTIVITIES THAT ARE NOT RELATED TO ITS EXEMPT PURPOSE. THE COLLEGE BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: PROVISION FOR DOUBFUL PLEDGES -217,900. POST RETIREMENT BENEFIT OBLIGATION 194,709. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -432,222. RENTAL EXPENSES -125,693. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 432,222. RENTAL EXPENSES 125,693. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 NONDISCRIMINATORY POLICY THE COLLEGE ANNUALLY PUBLISHES A NOTICE OF ITS RACIALLY NONDISCRIMINATORY POLICY IN A NEWSPAPER OF GENERAL CIRCULATION THAT SERVES ALL RACIAL SEGMENTS OF THE COMMUNITY. ALSO, THE COLLEGE'S NONDISCRIMINATION POLICY IS AVAILABLE ON THE COLLEGE'S WEBSITE. GOVERNMENT AID OR ASSISTANCE - LINE 6A GOVERNMENT AID OR ASSISTANCE THE COLLEGE PARTICIPATES IN VARIOUS GOVERNMENTAL ASSISTANCE PROGRAMS INCLUDING THE FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS AND FEDERAL WORK STUDY PROGRAM. CENTRAL AMERICA/CARRIBEAN 0 0 INVESTMENTS 101491052 EUROPE 0 0 INVESTMENTS 6572386 CENTRAL AMERICA/CARRIBEAN 0 0 PROGRAM SERVICES EDUCATIONAL ACTIVITES 39265 EAST ASIA & THE PACIFIC 0 0 PROGRAM SERVICES EDUCATIONAL ACTIVITES 3516 EUROPE 0 0 PROGRAM SERVICES EDUCATIONAL ACTIVITES 2792289 MIDDLE EAST & NORTH AFRICA 0 0 PROGRAM SERVICES EDUCATIONAL ACTIVITES 10942 NORTH AMERICA 0 0 PROGRAM SERVICES EDUCATIONAL ACTIVITES 27145 SOUTH AMERICA 0 0 PROGRAM SERVICES EDUCATIONAL ACTIVITES 18843 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES EDUCATIONAL ACTIVITES 19963 0 0 0 0 0 0 110955438 19963 110975401 1 0 1 1 1 0 PART I, LINE 3: EXPENDITURES EXPENDITURES IN COLUMN (F) ARE BASED ON THE ACCRUAL METHOD OF ACCOUNTING. PART III ACCOUNTING METHOD: X X X X X X X 1 EAB PO BOX 603519 CHARLOTTE NC 28260 MAIL & EMAIL SOLICITATION 0 744590 153082 591508 744590 153082 591508 AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY DC MIH VISION CUP 255193 186993 68200 1500 20000 26353 61603 STANWICH VISION CUP 221559 162249 59310 1000 5000 71530 5 731095 556133 174962 4400 10000 42136 188700 1207847 905375 302472 6900 35000 68489 321833 432222 -129750 PART I, LINE 2 FUNDRAISING ACTIVITIES PROVIDENCE COLLEGE HAS A WRITTEN AGREEMENT WITH EAB A PROFESSIONAL FUNDRAISER, WHEREBY EAB PROVIDED MAILING & EMAILING AND EMAILING SERVICES. THE AGREEMENT CALLS FOR A MONTHLY PAYMENT OF AN AGREED UPON FEE, PLUS REIMBURSEMENT OF COSTS SUCH AS PRINTING, POSTAGE, SUPPLIES ETC. EAB BILLS PROVIDENCE COLLEGE SEPARATELY FOR THESE COSTS. PROVIDENCE COLLEGE PAID EAB $153,082. 1 SPECIAL OLYMPICS RHODE ISLAND 370 GEORGE WASHINGTON HIGHWAY SMITHFIELD RI 02917 050377867 501(C)(3) 11600 0 GENERAL SUPPORT THE MANTON AVENUE PROJECT 55 PUTNAM STREET PROVIDENCE RI 02909 061725016 501(C)(3) 10000 0 GENERAL SUPPORT YOUTH PRIDE INC 743 WESTMINSTER STREET PROVIDENCE RI 02903 050478645 501(C)(3) 10250 0 GENERAL SUPPORT SOPHIA ACADEMY 582 ELMWOOD AVENUE PROVIDENCE RI 02907 311736069 501(C)(3) 12500 0 GENERAL SUPPORT YOUNG VOICES 204 WESTMINSTER STREET SUITE 2A PROVIDENCE RI 02903 432103674 501(C)(3) 17500 0 GENERAL SUPPORT CATHOLIC FOUNDATION OF RHODE ISLAND ONE CATHEDRAL SQUARE PROVIDENCE RI 02903 050401892 501(C)(3) 100000 0 GENERAL SUPPORT A WISH COME TRUE 1010 WARWICK AVENUE WARWICK RI 02888 050398808 501(C)(3) 11200 0 GENERAL SUPPORT 7 FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT 302 1193954 CARES ACT EMERGENCY STUDENT GRANTS 1598 3425469 ATHLETIC SCHLORSHIPS 294 11131811 STUDENT SCHLORSHIPS & FINANCIAL AID 2668 78650710 PART I, LINE 2 MONITOR THE USE OF GRANT FUNDS IN THE U.S. THE COLLEGE MONITORS THE USE OF GRANT FUNDS IN VARIOUS WAYS INCLUDING OBTAINING REPORTS FROM THE ORGANIZATIONS OUTLINING THE ACTIVITIES SUPPORTED BY GRANTS, MEETING REGULARLY WITH THE ORGANIZATIONS, AND VISITING ORGANIZATIONS TO OBSERVE ACTIVITIES ON A FIRST HAND BASIS. THE OFFICE OF FINANCIAL AID MONITORS FEDERAL GRANT FUNDS USING BANNER REPORTING TOOLS TO TRACK THE LEVEL OF AMOUNTS PAID FOR ALL TITLE IV GRANTS AND INSTITUTIONAL GRANTS. AMOUNTS ARE RECONCILED TO THE STUDENT ACCOUNT SYSTEM TO ENSURE FUNDS ARE PROPERLY DISBURSED. PART III, LINE 4 CARES ACT EMERGENCY STUDENT GRANTS THE COLLEGE RECEIVED AWARDS FROM THE HIGHER EDUCATION EMERGENCY RELIEF FUND TO PROVIDE AID TO STUDENTS. DURING THE YEAR, THE COLLEGE UTILIZED THE AMOUNTS RECEIVED OF $3,425,469 TO PROVIDE GRANTS TO STUDENTS. X X X 1 1 X X X 1 1 0 0 0 0 0 0 0 EDWARD COOLEY MENS BASKETBALL COACH 3248605 0 269000 0 115523 0 129000 0 33867 0 3795995 0 0 0 NATHAN LEAMAN MENS HOCKEY COACH 534771 0 52500 0 21429 0 79000 0 28889 0 716589 0 0 0 ROBERT DRISCOLL VP & DIRECTOR OF ATHLETICS 412225 0 76316 0 42624 0 76484 0 23412 0 631061 0 0 0 GREGORY WALDRON SR VP INSTIT. ADVANCEMENT 352590 0 50000 0 69733 0 21888 0 31100 0 525311 0 0 0 JAMES CROWLEY WOMEN'S BASKETBALL COACH 376336 0 57000 0 13028 0 23275 0 30353 0 499992 0 0 0 JOHN SWEENEY SR VP FINANCE & BUSINESS/CFO 308059 0 60000 0 40029 0 19538 0 30015 0 457641 0 0 0 SEAN REID SR VP ACADEMIC AFFAIRS/PROVOST 354301 0 0 0 24605 0 14872 0 30776 0 424554 0 0 0 ANN MANCHESTER-MOLAK EVP & TRUSTEE 348957 0 0 0 11850 0 21437 0 22736 0 404980 0 0 0 SYLVIA MAXFIELD DEAN SCHOOL OF BUSINESS 339023 0 0 0 3420 0 20519 0 23293 0 386255 0 0 0 STEVEN NAPOLILLO ASST VP/SR ASSOC AD EXT RE 250264 0 12500 0 42917 0 15313 0 24699 0 345693 0 0 0 STEVEN SEARS VP STUDENT AFFAIRS 267456 0 15000 0 10956 0 16468 0 5480 0 315360 0 0 0 CHRISTOPHER NERONHA VP & GEN COUNSEL 262613 0 0 0 10946 0 15287 0 11769 0 300615 0 0 0 KRISTINE GOODWIN VP STUDENT AFFAIRS (THRU 6.30.20) 0 0 0 0 240786 0 14952 0 29462 0 285200 0 0 0 HUGH LENA SR VP ACAD AFF/PROVOST (THRU 6.30.21 168058 0 0 0 1792 0 3414 0 16472 0 189736 0 0 0 PART I, LINE 1A CHARTER TRAVEL, HOUSING ALLOWANCE, AND HEALTH OR SOCIAL CLUB DUES THE FOLLOWING LISTED BENEFITS WERE PROVIDED BY THE COLLEGE DURING CALENDAR YEAR 2021. LISTED BENEFITS TO EMPLOYEES CEASE UPON THEIR TERMINATION DATE. EDWARD COOLEY, THE MENS BASKETBALL COACH TRAVELS ON CHARTER FLIGHTS AS PART OF HIS COACHING RESPONSIBILITIES. THE COLLEGE'S PRESIDENT, REV. KENNETH R. SICARD, OP WAS PROVIDED WITH ON CAMPUS HOUSING. THE HOUSING WAS EXCLUDED FROM THE INCOME OF REV. KENNETH R. SICARD, OP, AS IT MEETS THE EXCEPTION UNDER INTERNAL REVENUE CODE SECTION 119(D). THE COLLEGE'S PRESIDENT, REV. KENNETH R. SICARD, OP, NATHAN LEAMAN, HOCKEY COACH, GREGORY WALDRON, SR VP OF INSTITUTIONAL ADVANCEMENT, STEVEN NAPOLILLO, ASST VP/ASSOCIATE ATHLETIC DIRECTOR, AND EDWARD COOLEY, BASKETBALL COACH, WERE PROVIDED WITH SOCIAL CLUB MEMBERSHIPS PAID BY THE COLLEGE. THE MEMBERSHIP DUES PAID BY THE COLLEGE FOR REV. KENNETH R. SICARD, OP WAS EXCLUDED FROM HIS INCOME AS AN ORDINARY AND NECESSARY BUSINESS EXPENSE UNDER INTERNAL REVENUE CODE SECTION 162. THE MEMBERSHIP DUES PAID BY THE COLLEGE FOR NATHAN LEAMAN, GREGORY WALDRON, STEVEN NAPOLILLO, AND EDWARD COOLEY ARE TAXABLE TO THE INDIVIDUALS AND INCLUDED IN THEIR FORM W-2. THESE AMOUNTS HAVE BEEN REPORTED IN FORM 990, PART VII AND ON SCHEDULE J. PART I, LINES 4A-B 4A - SEVERANCE UNDER THE TERMS OF THE EMPLOYMENT AND SEPARATION AGREEMENT BETWEEN KRISTINE GOODWIN AND THE COLLEGE, SALARY CONTINUANCE PAYMENTS WILL BE MADE THROUGH 12/31/21. AS PART OF HER EMPLOYMENT AGREEMENT AND SEPARATION AGREEMENT, KRISTINE GOODWIN RECEIVED SEVERANCE OF $249,200, WHICH WAS INCLUDED IN HER W-2 AND REPORTED ON SCHEDULE J, PART II, COLUMN B(III), AND REPORTED ON SCHEDULE J, PART II, COLUMN B(III). 4B - SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN CERTAIN HIGHLY COMPENSATED EMPLOYEES PARTICIPATE IN A NONQUALIFIED 457(F) PLAN: CONTRIBUTIONS MADE: EDWARD COOLEY $100,000 NATHAN LEAMAN $50,000 ROBERT DRISCOLL $50,000 A RI HEALTH & EDUCATIONAL BLDG CORP - SERIES 2021B 521300173 762197H20 2021-08-03 31450320 REFUNDING OF 2012 A BONDS 0 0 0 B RI HEALTH & EDUCATIONAL BLDG CORP - SERIES 2021A 521300173 762197E64 2021-06-09 24867188 CONSTRUCTION 0 0 0 C RI HEALTH & EDUCATIONAL BLDG CORP - SERIES 2017 521300173 762197UW9 2017-03-29 50394917 CONSTRUCTION 0 0 0 D RI HEALTH & EDUCATIONAL BLDG CORP - SERIES 2015 521300173 762197RZ6 2015-07-16 51061015 REFUND 2008 BONDS & CONSTRUCTION 0 0 0 A 31450388 276889 31173499 2022 1 0 1 1 B 24868164 248348 24619816 976 2022 0 0 1 1 C 50732059 390751 50341308 2019 0 0 1 1 D 12715000 51111229 410371 35523587 15177271 2017 1 0 1 1 A 0 0 1 1 1 0 0 0 1 B 0 0 1 1 0 0 0 1 C 0 0 1 1 0 0 0 1 D 0 0 1 1 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 D 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 D 1 PART II, LINE 3, BOND ISSUE A THE DIFFERENCE BETWEEN TOTAL PROCEEDS IN PART II, LINE 3 AND THE ISSUE PRICE OF THE BOND ISSUE IS INVESTMENT EARNINGS OF $68. PART II, LINE 3, BOND ISSUE B THE DIFFERENCE BETWEEN TOTAL PROCEEDS IN PART II, LINE 3 AND THE ISSUE PRICE OF THE BOND ISSUE IS INVESTMENT EARNINGS OF $976. PART II, LINE 3, BOND ISSUE C THE DIFFERENCE BETWEEN TOTAL PROCEEDS IN PART II, LINE 3 AND THE ISSUE PRICE OF THE BOND ISSUE IS INVESTMENT EARNINGS OF $337,142 PART II, LINE 3, BOND ISSUE D THE DIFFERENCE BETWEEN TOTAL PROCEEDS IN PART II, LINE 3 AND THE ISSUE PRICE OF THE BOND ISSUE IS INVESTMENT EARNINGS OF $50,214. PART II, LINE 3, BOND ISSUE E THE DIFFERENCE BETWEEN TOTAL PROCEEDS IN PART II, LINE 3 AND THE ISSUE PRICE OF THE BOND ISSUE IS INVESTMENT EARNINGS OF $550. PART IV, LINE 2C THE REBATE COMPUTATION DATE FOR THE SERIES 2021B BOND ISSUE WAS 5/31/2022 THE REBATE COMPUTATION DATE FOR THE SERIES 2021A BOND ISSUE WAS 5/31/2022 THE REBATE COMPUTATION DATE FOR THE SERIES 2017 BOND ISSUE WAS 3/29/2022 THE REBATE COMPUTATION DATE FOR THE SERIES 2015 BOND ISSUE WAS 5/31/2022 THE REBATE COMPUTATION DATE FOR THE SERIES 2012B BOND ISSUE WAS 10/31/2021 A RI HEALTH & EDUCATIONAL BLDG CORP - SERIES 2012B 521300173 762197LS8 2012-11-20 40616916 ADVANCE REFUNDING OF 2003A BONDS 0 0 0 A 22930000 40617466 299739 40317727 2014 0 1 1 1 A 0 0 1 1 0 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 NA 2500 TUITION TUITION SCHOLARSHIP NA 1000 TUITION TUITION SCHOLARSHIP MARGARET MANCHESTER FAMILY MEMBER OF OFFICER 98043 COMPENSATION 0 X 74 1098298 SELLING PRICE X 2 39512 FMV X MISCELLANEOUS 29 66368 FMV 0 1 0 PART I, COLUMN (B): CONTRIBUTIONS THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. PART III, LINE 1 ORGANIZATION'S MISSION PROVIDENCE COLLEGE IS A CATHOLIC, DOMINICAN, LIBERAL ARTS INSTITUTION OF HIGHER EDUCATION AND A COMMUNITY COMMITTED TO ACADEMIC EXCELLENCE IN PURSUIT OF THE TRUTH, GROWTH IN VIRTUE, AND SERVICE OF GOD AND NEIGHBOR. HISTORY PROVIDENCE COLLEGE WAS FOUNDED IN 1917 BY THE DOMINICAN FRIARS AT THE INVITATION OF BISHOP HARKINS TO PROVIDE A CATHOLIC EDUCATION IN THE ARTS AND SCIENCES. FAITH AND REASON PROVIDENCE COLLEGE IS CONFIDENT IN THE APPEAL OF REASON, BELIEVES THAT HUMAN BEINGS ARE DISPOSED TO KNOW THE TRUTH, AND TRUSTS IN THE POWER OF GRACE TO ENLIGHTEN MINDS, OPEN HEARTS, AND TRANSFORM LIVES. PROVIDENCE COLLEGE MAINTAINS THAT THE PURSUIT OF TRUTH HAS INTRINSIC VALUE, THAT FAITH AND REASON ARE COMPATIBLE AND COMPLEMENTARY MEANS TO ITS DISCOVERY, AND THAT THE SEARCH FOR TRUTH IS THE BASIS FOR DIALOGUE WITH OTHERS AND CRITICAL ENGAGEMENT WITH THE WORLD. ACADEMIC EXCELLENCE PROVIDENCE COLLEGE IS COMMITTED TO ACADEMIC EXCELLENCE, AND HOLDS ITSELF TO THE HIGHEST STANDARDS IN TEACHING, LEARNING, AND SCHOLARSHIP. ITS CORE CURRICULUM ADDRESSES KEY QUESTIONS OF HUMAN EXISTENCE, INCLUDING LIFE'S MEANING AND PURPOSE, AND STRESSES THE IMPORTANCE OF MORAL AND ETHICAL REASONING, AESTHETIC APPRECIATION, AND UNDERSTANDING THE NATURAL WORLD, OTHER CULTURES, AND DIVERSE TRADITIONS. PROVIDENCE COLLEGE HONORS ACADEMIC FREEDOM, PROMOTES CRITICAL THINKING AND ENGAGED LEARNING, AND ENCOURAGES A PEDAGOGY OF DISPUTED QUESTIONS. COMMUNITY AND DIVERSITY PROVIDENCE COLLEGE SEEKS TO REFLECT THE RICH DIVERSITY OF THE HUMAN FAMILY. FOLLOWING THE EXAMPLE OF ST. DOMINIC, WHO EXTENDED A LOVING EMBRACE TO ALL, IT WELCOMES QUALIFIED MEN AND WOMEN OF EVERY BACKGROUND AND AFFIRMS THE GOD-GIVEN DIGNITY, FREEDOM, AND EQUALITY OF EACH PERSON. PROVIDENCE COLLEGE PROMOTES THE COMMON GOOD, THE HUMAN FLOURISHING OF EACH MEMBER OF THE CAMPUS COMMUNITY, AND SERVICE OF NEIGHBOURS NEAR AND FAR. VERITAS AND PROVIDENCE PROVIDENCE COLLEGE BRINGS THE EIGHT-HUNDRED- YEAR-OLD DOMINICAN IDEAL OF VERITAS TO THE ISSUES AND CHALLENGES OF TODAY. IT SEEKS TO SHARE THE FRUITS OF CONTEMPLATION IN AN INCREASINGLY GLOBAL AND DIVERSE SOCIETY, AND TO PRAISE AND BLESS ALL THAT IS GOOD AND VITAL IN HUMAN ENDEAVORS. PROVIDENCE COLLEGE SUPPORTS THE DOMINICAN MISSION OF PREACHING THE GOSPEL OF JESUS CHRIST TO A NEW GENERATION OF STUDENTS AND HELPING THEM DISCOVER GOD'S PROVIDENCE IN THEIR LIVES. PART III, LINE 4A, PROGRAM SERVICE ACCOMPLISHMENTS: PROVIDENCE COLLEGE OFFERS UNDERGRADUATE DEGREES, GRADUATE DEGREES, AND CERTIFICATE PROGRAMS. COMMITTED TO ACADEMIC EXCELLENCE, THE COLLEGE'S CORE CURRICULUM ADDRESSES KEY QUESTIONS OF HUMAN EXISTANCE, INCLUDING LIFE'S MEANING AND PURPOSE, AND STRESSES THE IMPORTANCE OF MORAL AND ETHICAL REASONING, AESTHETIC APPRECIATION, AND UNDERSTANDING THE NATURAL WORLD, OTHER CULTURES, AND DIVERSE TRADITIONS. PROVIDENCE COLLEGE HONORS ACADEMIC FREEDOM, PROMOTES CRITICAL THINKING AND ENGAGED LEARNING, AND ENCOURAGES A PEDAGOGY OF DISPUTED QUESTIONS. THE COLLEGE OFFERS APPROXIMATELY 50 MAJOR FIELDS OF STUDY. THE STUDENT/FACULTY RATIO IS 12:1 AND THE AVERAGE CLASS SIZE IS 20. THE COLLEGE IS ACCREDITED BY THE NEW ENGLAND ASSOCIATION OF SCHOOLS AND COLLEGES AND THE AACSB INTERNATIONAL, AMONG OTHER ACCREDITING BODIES. APPROXIMATELY 4,700 STUDENTS WERE ENROLLED IN THE UNDERGRADUATE, GRADUATE AND CONTINUING EDUCATION PROGRAMS. FORM 990, PART VI, SECTION A, LINE 4 IN FEBRUARY 2022 THE ORGANIZATION AMENDED ITS BYLAWS. CHANGES INCLUDED THE STATUS OF THE VICE-CHAIR OF THE BOARD OF TRUSTEES ON THE CORPORATION, PROCEDURES GOVERNING TRUSTEE EMERITI, THE APPOINTMENT OF SUBORDINATE OFFICERS, THE ESTABLISHMENT OF A SUBCOMMITTEE REGARDING PRESIDENTIAL SUCCESSION PLANNING, AND THE ESTABLISHMENT OF A NEW BOARD OF TRUSTEES COMMITTEE AND A REVISION TO EXISTING COMMITTEE DUTIES. FORM 990, PART VI, SECTION A, LINE 6 12-MEMBER CORPORATION PROVIDENCE COLLEGE'S GOVERNING BODY IS A TWO-TIER STRUCTURE: A CORPORATION AND A BOARD OF TRUSTEES. THE 12-MEMBER CORPORATION IS THE BODY THAT HAS THE ULTIMATE AUTHORITY TO EXERCISE CONTROL OVER OWNERSHIP OF PROPERTY, TO PROMULGATE AND AMEND THE BY-LAWS, TO ACCEPT OR REJECT THE RECOMMENDATION FOR ELECTION TO THE PRESIDENCY OF THE COLLEGE BY THE BOARD OF TRUSTEES, AND TO ELECT MEMBERS OF THE CORPORATION AND OF THE BOARD OF TRUSTEES. THE CORPORATION IS COMPRISED OF FIVE EX OFFICIO MEMBERS AND SEVEN OTHER INDIVIDUALS ELECTED BY THE CORPORATION, FOUR DOMINICAN FRIARS AND THREE LAY PERSONS. THE EX OFFICIO MEMBERS ARE: (I) THE PROVINCIAL OF THE PROVINCE OF ST. JOSEPH, THE ELECTED LEADER OF THE DOMINICAN ORDER FOR THE EASTERN REGION OF THE UNITED STATES; (II) THE ROMAN CATHOLIC BISHOP OF THE DIOCESE OF PROVIDENCE; (III) THE PRESIDENT OF THE COLLEGE; (IV) THE CHAIRPERSON OF THE BOARD OF TRUSTEES; AND (V) THE VICE-CHAIRPERSON OF THE BOARD OF TRUSTEES. THE TERMS OF OFFICE OF THE BISHOP, THE PRESIDENT, THE PROVINCIAL, THE CHAIRPERSON OF THE BOARD OF TRUSTEES AND THE VICE-CHAIRPERSON OF THE BOARD OF TRUSTEES ARE CO-TERMINUS WITH THE RESPECTIVE INCUMBENCY OF EACH. THE TERM OF ALL OTHER MEMBERS IS THREE YEARS. FORM 990, PART VI, SECTION A, LINE 7A SEE DESCRIPTION PROVIDED FOR FORM 990, PART VI, LINE 6 FORM 990, PART VI, SECTION A, LINE 7B SEE DESCRIPTION PROVIDED FOR FORM 990, PART VI, LINE 6 FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS THE FORM 990 WILL BE COMPLETED ANNUALLY. MEMBERS OF THE AUDIT COMMITTEE WILL REVIEW THE FORM 990 WITH THE COLLEGE'S PRESIDENT, EXECUTIVE VICE PRESIDENT, SR. VICE PRESIDENT FOR FINANCE & BUSINESS/CFO, AND CONTROLLER. AT THE DISCRETION OF THE AUDIT COMMITTEE CHAIR, THE THIRD PARTY PREPARER OF THE FORM 990 MAY BE ASKED TO ATTEND. ANY NECESSARY CHANGE, IDENTIFIED THROUGH THE REVIEW PROCESS, WILL BE MADE TO THE ORIGINALLY SUBMITTED FORM 990. THIS UPDATED VERSION OF THE FORM 990 WILL BE CONSIDERED APPROVED FOR FILING. IT WILL BE SIGNED BY THE SR. VICE PRESIDENT FOR FINANCE & BUSINESS/CFO, DATED, AND SUBMITTED BY THE FILING DEADLINE. A COPY OF THE APPROVED FORM 990 WILL BE PROVIDED, VIA POSTING ON THE TRUSTEES ONLY AREA OF THE COLLEGE WEBSITE, TO ALL OF THE OFFICERS AND TRUSTEES BEFORE THE RETURN IS FILED. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY ALL OFFICERS, TRUSTEES, AND KEY EMPLOYEES ARE REQUIRED TO DISCLOSE ANNUAL INTERESTS THAT COULD GIVE RISE TO CONFLICTS. ALL CONFLICT OF INTEREST DISCLOSURE FORMS ARE REVIEWED BY THE COLLEGE'S GENERAL COUNSEL, THE CHAIRPERSON OF THE AUDIT COMMITTEE, AND A DESIGNEE OF THE CORPORATION. ISSUES ARISING UNDER THE APPLICATION OF THIS POLICY SHALL BE RESOLVED BY THE BOARD OF TRUSTEES OR THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION POLICY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES ANNUALLY REVIEWS THE POLICIES, PROGRAMS, AND TOTAL COMPENSATION FOR EXECUTIVES TO ENSURE COMPLIANCE WITH FEDERAL REGULATIONS CONCERNING EXECUTIVE COMPENSATION IN NON-PROFIT ORGANIZATIONS. COMPETITIVE SURVEY DATA IS COLLECTED, ANALYZED, AND SUMMARIZED BY THE SENIOR ASSOCIATE VICE PRESIDENT FOR HUMAN RESOURCES AND IS REVIEWED ANNUALLY BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. SALARIES ARE BASED UPON THE EXECUTIVE'S SCOPE, SIZE, AND COMPLEXITY OF RESPONSIBILITIES AS WELL AS PERFORMANCE AGAINST GOALS AND OBJECTIVES. THIS PROCESS IS USED TO ESTABLISH COMPENSATION FOR THE FOLLOWING: PRESIDENT, EVP, VP FOR STUDENT AFFAIRS, SR VP OF ACADEMIC AFFAIRS/PROVOST, VP AND GENERAL COUNSEL, SR VP FOR FINANCE/CFO, SR VP FOR INSTITUTIONAL ADVANCEMENT, VP & DIRECTOR OF ATHLETICS, VP FOR MISSION AND MINISTRY, SENIOR ADVISOR TO THE PRESIDENT, AND TREASURER. THIS PROCESS IS DONE ANNUALLY. PROVIDENCE COLLEGE'S PRESIDENT IS A MEMBER OF THE DOMINICAN FRIARS, A CATHOLIC RELIGIOUS ORDER. HE IS PROVIDED ON CAMPUS HOUSING AND HEALTHCARE BENEFITS BY THE COLLEGE. THE COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES IS SET BY THE PRESIDENT OF THE COLLEGE. INDEPENDENT COMPENSATION COMPARABILITY SURVEYS ARE USED PERIODICALLY IN SETTING COMPENSATION. THE COLLEGE COMPLIES WITH THE THREE REQUIREMENTS OF THE REBUTTABLE PRESUMPTION STANDARD, AS OUTLINED IN TREASURY REGULATIONS SECTION 53.4958-6: (1) EXECUTIVE COMPENSATION IS AUTHORIZED BY AN INDEPENDENT COMMITTEE OF THE BOARD OF DIRECTORS, (2) THE COMMITTEE AUTHORIZING EXECUTIVE COMPENSATION OBTAINS AND RELIES ON APPROPRIATE DATA AS TO COMPARABILITY PRIOR TO MAKING DETERMINATIONS, AND (3) THE COMMITTEE ADEQUATELY DOCUMENTS THE BASIS FOR DETERMINATIONS CONCURRENTLY WITH MAKING THE DETERMINATIONS. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC DISCLOSURE POLICY THE ORGANIZATION'S GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC ON THE WEBSITE. THE COLLEGE COMMUNITY (FACULTY, STAFF, AND STUDENTS) HAVE ACCESS TO THE CONFLICT OF INTEREST POLICY THROUGH THE COLLEGE'S WEBSITE. FINANCIAL STATEMENTS ARE AVAILABLE TO ANYONE UPON REQUEST. THE FORM 990 IS POSTED ON THE INTERNET AT WWW.GUIDESTAR.ORG. FORM 990, PART XI, LINE 9: UNCOLLECTIBLE PLEDGES -217,900. POST RETIREMENT BENEFIT OBLIGATION 194,709. CHARITABLE REMAINDER TRUSTS (5) INVESTING RI PC T 1 CHARITABLE PERPETUAL TRUSTS (3) INVESTING RI PC T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 CHARITABLE PERPETUAL TRUST (1) S 60000 CASH