2023-05-15T19:27:30-05:00 2022-06-30 390859910 BAKER TILLY US LLP 1570 FRUITVILLE PIKE SUITE 400 LANCASTER PA 17601 990 2021-07-01 231352626 CHESTNUT HILL COLLEGE CHES 2152487163 9601 GERMANTOWN AVENUE PHILADELPHIA PA 19118 BRIAN MCCLOSKEY VP OF FINANCIAL AFFAIRS 2152487163 2023-05-15 1 BRIAN MCCLOSKEY XXX-XX-XXXX KERRI N BOGDA CPA P00760402 7177404863 2023-05-15 X 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z BRIAN MCCLOSKEY 9601 GERMANTOWN AVENUE PHILADELPHIA PA 19118 66788936 0 X WWW.CHC.EDU X 1924 PA PRIVATE LIBERAL ARTS COLLEGE SPONSORED BY THE CONGREGATION OF THE SISTERS OF ST. JOSEPH OF PHILA. 29 29 605 34 304033 0 10694429 19665792 41347670 42749319 532806 620998 263032 629280 52837937 63665389 17826637 18169405 0 0 17050874 17725391 226473 71286 1460399 14093696 19748248 49197680 55714330 3640257 7951059 72389717 76444726 33270385 31706821 39119332 44737905 X THE MISSION OF CHESTNUT HILL COLLEGE IS TO PROVIDE STUDENTS WITH HOLISTIC EDUCATION IN AN INCLUSIVE CATHOLIC COMMUNITY MARKED BY ACADEMIC EXCELLENCE, SHARED RESPONSIBILITY, PERSONAL AND PROFESSIONAL GROWTH, SERVICE TO ONE ANOTHER AND TO THE GLOBAL COMMUNITY, AND CONCERN FOR THE EARTH. 0 0 29404384 0 42749319 EDUCATION AND STUDENT SERVICE: ANCHORED AND ANIMATED BY THE MISSION OF THE SISTERS OF SAINT JOSEPH, CHESTNUT HILL COLLEGE IS COMMITTED TO ACTIVE SERVICE IN PURSUIT OF JUST RELATIONSHIPS, INNOVATIVE THINKING, AND RESPONSIBLE ACTION TOWARD A MORE UNIFIED GLOBAL SOCIETY AND SUSTAINABLE EARTH. THE COLLEGE OFFERS TODAY'S STUDENTS A TRANSFORMATIVE, HOLISTIC EDUCATION GROUNDED IN EXPERIENTIAL LEARNING AND FOCUSING ON CREATING SOLUTIONS TO REAL-WORLD PROBLEMS. ORGANIZED INTO INTERDISCIPLINARY ACADEMIC CENTERS RATHER THAN TRADITIONAL DEPARTMENTS, STUDENTS ARE UNIQUELY POSITIONED TO BENEFIT FROM NOT ONLY THE FACULTY EXCELLENCE WITHIN THEIR GIVEN PROGRAMS OF STUDY, BUT ALSO DRIVEN TO COLLABORATE ON INTERCONNECTED PROJECTS SPANNING THE BREADTH OF DEPTH OF KNOWLEDGE, EXPERIENCE, AND EXPERTISE OF THE BROADER FACULTY AND LEARNING COMMUNITY.CHESTNUT HILL COLLEGE OFFERS 35 BACCALAUREATE PROGRAMS, INCLUDING BUSINESS, PSYCHOLOGY, AND EXERCISE SCIENCE; A BACHELOR OF SCIENCE DEGREE IN CYBERSECURITY WAS LAUNCHED IN FALL 2018. THE COLLEGE ALSO OFFERS A MASTER'S DEGREE IN SIX FIELDS AND A DOCTORATE DEGREE IN CLINICAL PSYCHOLOGY. IN FALL 2020, THE COLLEGE BEGAN OFFERING A MASTER'S DEGREE IN ORGANIZATIONAL LEADERSHIP. THERE ARE 14 PROGRAMS IN THE ADULT ACCELERATED DEGREE PROGRAM OFFERING ASSOCIATE, BACHELOR OF ARTS AND BACHELOR OF SCIENCE DEGREES. THE GRADUATE SCHOOL OFFERS 11 DEGREE PROGRAMS AND 17 CERTIFICATE PROGRAMS.DURING THE 2021-2022 ACADEMIC YEAR, CHESTNUT HILL ENROLLED 1,255 UNDERGRADUATE STUDENTS AND 532 GRADUATE STUDENTS. CHESTNUT HILL COLLEGE IS ONE OF ONLY ELEVEN COLLEGES/UNIVERSITIES IN THE U.S. OFFERING A MONTESSORI PROGRAM AS PART OF A BACHELOR'S OR MASTER'S DEGREE. CHESTNUT HILL COLLEGE'S PROGRAM IS AN AFFILIATE OF THE AMERICAN MONTESSORI SOCIETY (AMS) AND IS ACCREDITED BY THE MONTESSORI ACCREDITATION COUNCIL FOR TEACHER EDUCATION (MACTE).CHESTNUT HILL COLLEGE WAS RECOGNIZED AS ONE OF THE TOP 10 COLLEGES IN PHILADELPHIA IN 2019.CHESTNUT HILL COLLEGE IS COMMITTED TO IMPROVING THE EFFICIENCY AND EFFECTIVENESS OF ITS PROGRAMS AND SERVICES. IN 2017-2018, THE COLLEGE CONDUCTED AN ACADEMIC PROGRAM REVIEW AND PRIORITIZATION OF ALL ACADEMIC PROGRAMS TO IMPROVE QUALITY AND EFFICIENCY, ASSESS BENCHMARKS, AND IDENTIFY OPPORTUNITIES FOR GROWTH AND IMPROVEMENT. SIXTEEN ACADEMIC DEPARTMENTS WERE CONSOLIDATED UNDER A FACULTY-LED PROCESS INTO SIX ACADEMIC CENTERS. THIS RECONFIGURATION HAS RESULTED IN INCREASED COLLABORATION BETWEEN FACULTY AND A REDUCTION IN ADMINISTRATIVE COSTS.CHESTNUT HILL ALSO ACQUIRED A LEARNING MANAGEMENT SYSTEM IN FY 2018-2019 TO OFFER UNDERGRADUATE COURSES IN A HYBRID/ONLINE FORMAT. ALL COURSES CONVERTED TO CANVAS IN SUMMER 2019. IN ADDITION, CHESTNUT HILL COLLEGE IS UTILIZING SLATE TO IMPROVE THE ENROLLMENT MANAGEMENT EXPERIENCE FOR ITS STUDENTS.ACADEMIC AND STUDENT SUPPORT:FOR NEARLY 100 YEARS, CHESTNUT HILL COLLEGE HAS DEMONSTRATED ITS COMMITMENT TO PROVIDE STUDENTS WITH A TRANSFORMATIVE, HOLISTIC EDUCATION. TO THIS END, THE COLLEGE IMPLEMENTED MULTIPLE DYNAMIC ACADEMIC AND STUDENT SUPPORT PROGRAMS BEGINNING IN 2018-2019, CONTINUING TO ASSIST STUDENTS IN DECLARING A MAJOR, ACCESSING TECHNOLOGY AND TEXTBOOKS TO PROMOTE LEARNING, AND SUPPORTING THOSE EXPERIENCING FOOD INSECURITY.CHESTNUT HILL COLLEGE LAUNCHED ITS ACADEMIC DISCOVERY PROGRAM (ADP) IN 2018-2019 TO ADDRESS A GROWING NUMBER OF UNDECLARED MAJORS. IN THIS VOLUNTARY, TWO-SEMESTER PROGRAM, STUDENTS MEET WITH A DEDICATED STUDENT SUCCESS ADVISOR, TAKE TWO COURSES FOCUSED ON ACADEMIC AND CAREER DISCOVERY, DEVELOP A CAREER PLAN, AND OUTLINE A PATH FOR DEGREE COMPLETION WITHIN FOUR YEARS. THE COLLEGE ALSO LAUNCHED A LENDING LIBRARY IN FALL 2018 TO SUPPORT THE INCREASING NUMBER OF UNDERGRADUATE STUDENTS UNABLE TO AFFORD TEXTBOOKS AND COMPUTERS. THIS LIBRARY PROVIDES TEXTBOOKS TO STUDENTS ENROLLED IN GATEWAY COURSES, INCLUDING MATH, ENGLISH, FRENCH, SPANISH, PSYCHOLOGY, LIBERAL ARTS, RELIGIOUS STUDIES, AND COMPUTER AND INFORMATION TECHNOLOGY. THROUGH THE SISTERS OF SAINT JOSEPH, THE COLLEGE HAS THE ABILITY TO PROVIDE LOANER LAPTOPS FOR QUALIFYING STUDENTS.THE COLLEGE ALSO PARTNERED WITH THE ARCHDIOCESE OF PHILADELPHIA, SISTERS OF SAINT JOSEPH, AND WAWA TO OPEN AN ON-CAMPUS FOOD PANTRY TO ADDRESS THE GROWING ISSUE OF FOOD INSECURITY AFFECTING STUDENTS. ACCESSIBLE TO ALL STUDENTS, FACULTY, AND STAFF, THE PANTRY OFFERS A SELECTION OF NON-PERISHABLE AND REFRIGERATED GOODS. NO PROOF OF INCOME IS NEEDED OR REQUIRED.AUXILIARY SERVICES:AUXILIARY SERVICES INCLUDE A DIVERSE GROUP OF INTERNAL AND EXTERNAL UNITS INCLUDING RESIDENCE LIFE, FOOD SERVICES, AND FACILITIES RENTALS. 18169405 18169405 0 FINANCIAL AID AT CHESTNUT HILL COLLEGE PROVIDES ACCESS TO HIGHER EDUCATION FOR A DIVERSE GROUP OF STUDENTS, INCLUDING THOSE WITH SIGNIFICANT FINANCIAL NEED. FOR TRADITIONAL UNDERGRADUATE STUDENTS, APPROXIMATELY 99% OF FULL-TIME STUDENTS ATTENDING CHESTNUT HILL COLLEGE RECEIVE INSTITUTIONAL SCHOLARSHIPS AND GRANTS, WHILE 100% OF FIRST-TIME, FULL-TIME STUDENTS RECEIVED SOME FORM OF FINANCIAL AID IN FISCAL 2021-2022. CHESTNUT HILL COLLEGE OFFERS A VARIETY OF SCHOLARSHIPS AND GRANTS TO HELP ENSURE STUDENTS HAVE THE ACCESS AND MEANS TO FULLY REALIZE THE BENEFITS OF A GREAT LIBERAL ARTS EDUCATION. THESE SCHOLARSHIPS AND GRANTS, WHICH DO NOT NEED TO BE REPAID, ARE GENERALLY RENEWABLE FOR AN ADDITIONAL FOUR YEARS FOR FIRST-YEAR UNDERGRADUATE STUDENTS. THE COLLEGE OFFERS COMPREHENSIVE FINANCIAL AID PACKAGES TO SUPPORT STUDENTS' PERSONAL AND PROFESSIONAL GOALS. GRADUATE AND ACCELERATED ADULT DEGREE PROGRAM TUITION IS BILLED PER CREDIT HOUR AND THE ADMINISTRATIVE COSTS OF A STUDENT'S EDUCATION ARE COVERED THROUGH PROGRAM FEES. TRADITIONAL FULL-TIME UNDERGRADUATE STUDENTS RECEIVE AWARD LETTERS DETAILING ANY AID FOR WHICH THEY ARE ELIGIBLE. AID PACKAGES COVER TUITION, FEES, ROOM, BOARD, BOOKS, SUPPLIES, TRANSPORTATION, AND ADDITIONAL MISCELLANEOUS EXPENSES. A TYPICAL AID PACKAGE INCLUDES GRANTS OR SCHOLARSHIPS AND CAMPUS EMPLOYMENT (UP TO 20 HOURS PER WEEK). UNDERGRADUATES WILL LIKELY RECEIVE THE SAME AMOUNT ALL FOUR YEARS AS LONG AS THEY SUBMIT THE FAFSA ANNUALLY, CONTINUE TO MEET ALL AWARD CONDITIONS, AND THEIR NEED REMAINS ESSENTIALLY UNCHANGED. 47573789 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 130 0 605 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 29 29 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 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 LARZ E JETER CONTROLLER 2152487163 9601 GERMANTOWN AVENUE PHILADELPHIA PA 19118 CAROL JEAN VALE SSJ PRESIDENT/BOARD MEMBER 50.00 0.00 X X 0 0 0 CAHTERINE LOCKYER MOULTON BOARD CHAIR 0.50 0.00 X X 0 0 0 MAUREEN ERDLEN SSJ BOARD VICE CHAIR 0.50 0.00 X X 0 0 0 JILL KIMBERLEY 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 SUSAN JIN DAVIS 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 0.00 X 0 0 0 HERMAN C FALA JD BOARD MEMBER 0.50 0.00 X 0 0 0 MICHAEL FITZPATRICK BOARD MEMBER 0.50 0.00 X 0 0 0 DEBORAH FLINT BOARD MEMBER 0.50 0.00 X 0 0 0 JACK GULATI BOARD MEMBER 0.50 0.00 X 0 0 0 DAVID GUNN BOARD MEMBER 0.50 0.00 X 0 0 0 MILA M HAYES BOARD MEMBER 0.50 0.00 X 0 0 0 DEBORAH HUGHES SSJ BOARD MEMBER 0.50 0.00 X 0 0 0 MARY ANN KEENAN MD BOARD MEMBER 0.50 0.00 X 0 0 0 EILEEN MARNIEN SSJ BOARD MEMBER 0.50 0.00 X 0 0 0 JOANNE MCFADDEN MCBRIDE BOARD MEMBER 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 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 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 CAROL STEINOUR YOUNG ESQ BOARD MEMBER 0.50 0.00 X 0 0 0 MARYANNE L WALSH BOARD MEMBER 0.50 0.00 X 0 0 0 RASHIDA M WEATHERS 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 JOSEPH DENNY BOARD MEMBER (UNTIL 08/2021) 0.50 0.00 X 0 0 0 STEPHANIE KING BOARD MEMBER (UNTIL 08/2021) 0.50 0.00 X 0 0 0 CAROLYN MONTGOMERY BOARD MEMBER (UNTIL 08/2021) 0.50 0.00 X 0 0 0 JANET BROWN QUINTAL BOARD MEMBER (UNTIL 08/2021) 0.50 0.00 X 0 0 0 ROBERT RIETHMILLER JR BOARD MEMBER (UNTIL 08/2021) 0.50 0.00 X 0 0 0 DAVID WOODFORD TREAS./VP FIN. AFFAIRS (UNTIL 7/21) 50.00 0.00 X 169679 0 10646 ROBERT WALLETT INTERIM VP, FIN. AFF.(AS OF 8/21) 50.00 0.00 X 111297 0 0 KATHRYN MILLER SSJ BOARD SECRETARY-NON VOTING 50.00 0.00 X 0 0 0 CHRISTOPHER B DOUGHERTY VP ACADEMIC AFFAIRS 50.00 0.00 X 189462 0 17003 KEVIN HEARN VP ENROLLMENT MANAGEMENT 50.00 0.00 X 171928 0 26005 CHRISTINA ABBOTT LEGAL COUNSEL & CHIEF OF STAFF 50.00 0.00 X 166396 0 10605 ERIN WOOLEY VP INSTITUTIONAL ADVANCEMENT 50.00 0.00 X 159626 0 10488 LYNN ORTALE VP STUDENT LIFE 50.00 0.00 X 127041 0 25298 1095429 0 100045 12 0 1 0 CHARTWELLS COLLEGE & UNIVERSITY DINNING COMPASS GROUP USA PO BOX 91337 CHICAGO IL 60673 DINING SERVICES 1136755 ALLIED UNIVERSAL 161 WASHINGTON STREET STE 600 CONSHOHOCKEN PA 19428 SECURITY SERVICES 1093363 EMCOR FUIDICS 9815 ROOSEVELT BLVD SUITE A PHILADELPHIA PA 19114 PHYSICAL PLANT SVCS 906402 EDUCATION ADVISORY BOARD PO BOX 603519 CHARLOTTE NC 28260 CONSULTING SERVICES 280102 JENZABAR INC PO BOX 845588 BOSTON MA 02284 ACCOUNTING AND SYSTEM SOFTWARE 242566 17 351121 10329316 8985355 1239197 19665792 TUITION 611600 38130709 38130709 ROOM AND BOARD 611600 4369534 4369534 AUXILIARY FEES 611600 245351 245351 INTEREST INCOME- STUDENT DEBT 611600 3725 3725 42749319 288946 288946 3323600 2991548 332052 332052 332052 10487 351121 131999 -121512 -121512 CATERING REVENUE 722320 304033 304033 MISC. INCOME 611110 152178 152178 CLINICAL RECEIPTS 611110 98928 98928 195653 195653 750792 63665389 42749319 304033 946245 18169405 18169405 519766 519766 14545330 12160445 1689426 695459 203569 167216 26790 9563 1397797 1167592 163430 66775 1058929 869828 139355 49746 86594 86594 350050 350050 18297 18297 71286 71286 85398 85398 1977407 1157485 506753 313169 72676 13788 58888 1028891 601238 352921 74732 590925 363866 177977 49082 4163692 3302774 860918 128329 91114 30287 6928 391664 169189 170580 51895 940615 705461 235154 1696515 1272386 424129 27200 27200 DINING SERVICES 2180742 1908149 272593 GRANT RELATED EXPENSES 1563503 1563503 SECURITY SERVICES 1128947 846710 282237 STUDENT REL. ACTIVITIES 894434 894434 2422369 2149206 201399 71764 55714330 47573789 6680142 1460399 11142 10817 2844279 5685878 5371953 5755804 2423809 2170153 416124 469597 95440524 46619842 46317309 48820682 13289626 11492674 222734 204559 1064212 1488487 428529 346075 72389717 76444726 2461434 1767442 816920 858632 21396592 20516284 2500000 4000000 3285900 1373221 2809539 3191242 33270385 31706821 X 14368670 14684227 24750662 30053678 39119332 44737905 72389717 76444726 X 7951059 -2229611 -18539 X 0 1 X 1 1 1 X 4166515 4376951 8782110 10694429 19314671 47334676 4166515 4376951 8782110 10694429 19314671 47334676 2243806 45090870 291009 311803 278768 249056 288946 1419582 114659 114659 555618 514752 352941 261403 836906 2521620 51390537 224597205 0.87740 0.84090 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: AMS DUES - 2021 AMOUNT: $ 6,970. ATHLETIC SPONSORSHIPS - 2018 AMOUNT: $ 6,000. 2019 AMOUNT: $ 2,500. BOOKSTORE COMMISSIONS - 2017 AMOUNT: $ 54,007. 2018 AMOUNT: $ 31,567. 2019 AMOUNT: $ 29,137. 2020 AMOUNT: $ 22,233. 2021 AMOUNT: $ 20,931. CELL TOWER REVENUE - 2018 AMOUNT: $ 10,858. 2019 AMOUNT: $ 26,926. 2020 AMOUNT: $ 22,584. 2021 AMOUNT: $ 23,316. CLINICAL RECEIPTS - 2018 AMOUNT: $ 80,535. 2019 AMOUNT: $ 74,413. 2020 AMOUNT: $ 69,302. 2021 AMOUNT: $ 98,928. FORFEITED DEPOSITS - 2017 AMOUNT: $ 64,177. 2018 AMOUNT: $ 66,755. LAUNDRY COMMISSIONS - 2018 AMOUNT: $ 7,887. 2019 AMOUNT: $ 6,423. 2020 AMOUNT: $ 2,147. 2021 AMOUNT: $ 3,938. MISC INCOME - 2017 AMOUNT: $ 30,362. 2018 AMOUNT: $ 54,003. 2020 AMOUNT: $ 79,478. 2021 AMOUNT: $ 180,717. NON-CHARITABLE FUNDRAISING - 2017 AMOUNT: $ 52,932. 2018 AMOUNT: $ 53,659. 2019 AMOUNT: $ 40,093. 2020 AMOUNT: $ 18,150. 2021 AMOUNT: $ 361,608. PARKING TICKETS AND FEES - 2017 AMOUNT: $ 80,470. 2018 AMOUNT: $ 75,685. 2019 AMOUNT: $ 81,940. 2020 AMOUNT: $ 15,472. 2021 AMOUNT: $ 68,353. REIMBURSEMENTS - 2017 AMOUNT: $ 231,565. 2018 AMOUNT: $ 10,305. REVENUE SHARING - 2018 AMOUNT: $ 61,024. 2019 AMOUNT: $ 38,925. TRANSCRIPTS - 2018 AMOUNT: $ 31,529. 2019 AMOUNT: $ 30,146. 2020 AMOUNT: $ 31,600. 2021 AMOUNT: $ 30,306. UNCLAIMED CHECKS - 2017 AMOUNT: $ 17,341. VENDING MACHINE COMMISSIONS - 2017 AMOUNT: $ 24,764. 2018 AMOUNT: $ 24,945. 2019 AMOUNT: $ 22,438. 2020 AMOUNT: $ 437. 2021 AMOUNT: $ 41,839. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 18297 18297 0 PART II-B, LINE 1: THE ORGANIZATION ENLISTED THE SERVICES OF A PROFESSIONAL LOBBYING FIRM TO ASSIST THEM IN DETERMINING OPTIONS FOR THE USE OF THEIR PROPERTY IN SUGARLOAF, VERMONT. 20043647 2363992 -2413581 19994058 15459637 2336566 2247444 20043647 11443150 4476327 -459840 15459637 10317363 1042027 83760 11443150 9808627 587334 -78598 10317363 0.00000 1.00000 0.00000 1 0 10506160 10506160 66197023 34897740 31299283 11822953 11722102 100851 6914388 6914388 48820682 STUDENT DEPOSITS AND ADVANCES 1137614 ADVANCES FROM FEDERAL GOVERNMENT - STUDENT LOANS 494434 ANNUITIES PAYABLE 111673 CAPITAL LEASE OBLIGATION 1447521 3191242 X 44744829 -2229611 1450394 -18273342 -19052559 63797388 -131999 -131999 63665389 39126256 1450394 131999 1582393 37543863 18254803 18254803 55798666 PART V, LINE 4: THE ENDOWMENT FUND IS USED PRIMARILY FOR THE AWARDING OF SCHOLARSHIPS TO STUDENTS. OTHER USES MAY INCLUDE THE FUNDING OF EDUCATION-RELATED ACTIVITIES SUCH AS PURCHASING LIBRARY RESOURCES OR THE FUNDING OF A LECTURE SERIES. PART X, LINE 2: THE COLLEGE FOLLOWS THE FASB GUIDANCE AS IT RELATES TO UNCERTAIN TAX POSITIONS. MANAGEMENT HAS REVIEWED ITS CURRENT AND PAST FEDERAL AND STATE INCOME TAX POSITIONS AND HAS DETERMINED, BASED ON CLEAR AND UNAMBIGUOUS TAX LAW AND REGULATIONS, THAT THE TAX POSITIONS TAKEN ARE CERTAIN AND THAT THERE IS NO LIKELIHOOD THAT A MATERIAL TAX ASSESSMENT WOULD BE MADE IF A RESPECTIVE GOVERNMENT AGENCY EXAMINED TAX RETURNS SUBJECT TO AUDIT. ACCORDINGLY, NO PROVISION FOR THE EFFECTS OF UNCERTAIN TAX POSITIONS HAS BEEN RECORDED. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS & GRANTS -18,169,405. INVESTMENT FEES -85,398. CHANGE IN LIFE INSURANCE CSV -18,539. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -131,999. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 131,999. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS & GRANTS 18,169,405. INVESTMENT FEES 85,398. 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. IN FISCAL YEAR 2021-2022, RACIAL/ETHNIC MINORITIES COMPRISED 59.3% OF ALL DEGREE-SEEKING UNDERGRADUATES, 52.6% WERE WOMEN, 50.7% WERE PELL ELIGIBLE, AND 37.9% WERE FIRST-GENERATION STUDENTS. 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. X X X X X X X 1 CHANGING OUR WORLD INC 1285 AVENUE OF THE AMERICAS 5TH FL NEW YORK NY 10019 ENDOWMENT CAMPAIGN SERVICES 0 0 21500 -21500 21500 -21500 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 SCHOLARSHIP GALA 361608 351121 10487 131999 361608 351121 10487 131999 131999 -121512 1 TUITION ASSISTANCE 1172 18169405 N/A N/A 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, 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 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 0 0 X X 0 0 0 0 0 0 0 0 0 CHRISTOPHER B DOUGHERTY VP ACADEMIC AFFAIRS 189462 0 0 0 0 0 2368 0 14635 0 206465 0 0 0 KEVIN HEARN VP ENROLLMENT MANAGEMENT 171928 0 0 0 0 0 2149 0 23856 0 197933 0 0 0 DAVID WOODFORD TREAS./VP FIN. AFFAIRS (UNTIL 7/21) 169679 0 0 0 0 0 2121 0 8525 0 180325 0 0 0 CHRISTINA ABBOTT LEGAL COUNSEL & CHIEF OF STAFF 166396 0 0 0 0 0 2080 0 8525 0 177001 0 0 0 ERIN WOOLEY VP INSTITUTIONAL ADVANCEMENT 159626 0 0 0 0 0 1995 0 8493 0 170114 0 0 0 LYNN ORTALE VP STUDENT LIFE 127041 0 0 0 0 0 1588 0 23710 0 152339 0 0 0 PART I, LINE 1A THE COLLEGE PROVIDES AN APARTMENT NEAR THE COLLEGE IN WHICH THE VICE PRESIDENT FOR STUDENT LIFE, LYNN ORTALE, RESIDES. BECAUSE OF HER POSITION AT THE COLLEGE, THIS IS A CONDITION OF HER EMPLOYMENT. THE COLLEGE OWNS THE PROPERTY AND NO PART OF THE BENEFIT WAS TAXABLE INCOME TO THE INDIVIDUAL. A PHILA AUTHORITY - INDUSTRIAL DEVELOPMENT 232237287 2014-07-30 27238000 REVENUE BOND, SERIES OF 2014 - SEE BELOW FOR DETAILS 0 0 0 A 6370000 27238000 494894 26743106 2014 1 0 1 1 A 0 1 1 1 0 0.00010 0.00000 0.00010 0 0 1 A 0 0 1 0 0 0 0 0 1 A 1 SCHEDULE K SUPPLENTAL INFORMATION THE REVENUE BOND, SERIES OF 2014 WAS ISSUED ON BEHALF OF CHESTNUT HILL COLLEGE (THE "COLLEGE") FOR THE FOLLOWING PURPOSES: (I) THE CURRENT REFUNDING OF THE OUTSTANDING PRINCIPAL AMOUNT OF THE CHELTENHAM TOWNSHIP INDUSTRIAL DEVELOPMENT AUTHORITY'S CONSTRUCTION LINE OF CREDIT/PERMANENT MORTGAGE NOTE SERIES 2005 A 1 DATED SEPTEMBER 19, 2005 (THE "CTIDA NOTE"), (II) THE CURRENT REFUNDING OF THE OUTSTANDING PRINCIPAL AMOUNT OF PAID'S TAX-EXEMPT ADJUSTABLE MODE EDUCATIONAL FACILITIES REVENUE BONDS SERIES A OF 2007 (THE "SERIES 2007A BONDS"), AND PAID'S TAX-EXEMPT ADJUSTABLE MODE EDUCATIONAL FACILITIES REVENUE BONDS SERIES B OF 2007 (THE "SERIES 2007B BONDS"), (III) THE CURRENT REFUNDING OF THE OUTSTANDING PRINCIPAL AMOUNT OF A CONSTRUCTION LOAN PROVIDED TO THE COLLEGE BY WELLS FARGO BANK, NATIONAL ASSOCIATION (THE "2009 CONSTRUCTION LOAN"), (IV) THE PAYMENT OF THE COSTS OF TERMINATING AN INTEREST RATE MANAGEMENT AGREEMENT RELATED TO THE SERIES 2007A BONDS (THE "SWAP TERMINATION"), AND (V) FINANCING CERTAIN COSTS AND EXPENSES INCURRED IN CONNECTION WITH THE ISSUANCE OF THE REVENUE BOND, SERIES OF 2014 (THE "CLOSING COSTS"). PROCEEDS OF THE DEBT/BONDS TO BE REFUNDED WERE USED BY THE COLLEGE TO FINANCE OR REFINANCE VARIOUS CAPITAL IMPROVEMENTS ON THE COLLEGE'S CAMPUS. X 7 1239197 NYSE 0 0 0 0 PART I, COLUMN (B): THE NUMBER IN COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTORS. 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. 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 15 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 PRESIDENT OF THE COLLEGE, A SISTER OF ST. JOSEPH, RECEIVES NO DIRECT COMPENSATION. A PORTION OF THE PRESIDENT'S SALARY IS REMITTED TO THE CONGREGATION OF THE SISTERS OF SAINT JOSEPH OF PHILADELPHIA. THE BOARD OF DIRECTORS APPROVES THE FISCAL YEAR BUDGET WHICH CONTAINS THE TOTAL COMPENSATION AMOUNT FOR THE YEAR. THE PRESIDENT AND SENIOR VICE PRESIDENT FOR FINANCIAL AFFAIRS DETERMINE THE SALARIES OF OFFICERS AND OTHER COLLEGE EMPLOYEES BASED ON THE BUDGET AND MARKET DATA FROM COMPARABLE INSTITUTIONS. THE ORGANIZATION USES 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 SALARY 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. 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. FORM 990, PART XI, LINE 9: CHANGE IN LIFE INSURANCE CSV -18,539. CONGREGATION OF THE SISTERS OF ST JOSEPH 9701 GERMANTOWN AVENUE PHILADELPHIA PA 19118 LOCAL COMMUNITIES ENGAGE IN TEACHING, HUMAN SVC AND CHARITABLE PURSUITS PA 501(C)(3) LINE 1 N/A 0 0 0 1 0 0 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 CONVENT OF THE SISTERS OF SAINT 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 CONVENT 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.