2023-05-11T06:02:40-05:00 2022-06-30 363990892 Capin Crouse LLP 3200 Guasti Road Suite 230 Ontario CA 91761 990 2021-07-01 272912448 University of Saint Katherine UNIV 7609431107 277 Rancheros Dr 200 San Marcos CA 92069 Dr Frank Papatheofanis President 7609431107 2023-05-11 1 Dr Frank Papatheofanis 999009999 Daren Daiga P01074795 5055022746 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z Dr Frank Papatheofanis 277 Rancheros Dr 200 San Marcos CA 92069 8447424 0 X www.USK.edu X 2010 CA Independent liberal arts college formed in Orthodox Christian tradition to award BA, BS & MA degrees. 13 13 139 14 0 0 880970 1565383 3417636 6688256 80 189 23074 101466 4321760 8355294 1497355 3122812 0 0 1467663 3154634 0 0 17110 980179 2289488 3945197 8566934 376563 -211640 2802140 2332105 626069 367674 2176071 1964431 X To provide a balanced education in the liberal arts & sciences, founded and rooted in the life of the Orthodox Christian Tradition - inquiry seeking wisdom. 0 0 4024042 1914138 217075 University of Saint Katherine (USK) received National Association of Intercollegiate Athletics (NAIA) Full Membership in the Spring of 2019. We strive to meet all standards and regulations of the NAIA.The University's Athletic Program was created to inspire a diverse group of student-athletes in the developments of spirit, soul, and body through Christ-centered leadership, integrated learning, and athletic excellence. 3327626 1208674 6471181 USK is a regionally accredited undergraduate college of liberal arts and sciences that focuses its integrative, interdisciplinary teaching in the core areas of composition, English language and literature, American government and history, economics, business, and the sciences as part of general education and instruction in concentration-specific degree requirements. Outstanding teaching and research - with relevance to the practical world and Christian witness as guiding principles - is our primary purpose - inquiry seeking wisdom. We aim to graduate creative and compassionate leaders. USK's enrollment for 2022 was 275. College programs encompass 19 degree-granting programs, as well as interdisciplinary collaborations, laboratories, and programs whose work cuts across traditional departmental boundaries. We realize these aims in a singularly collegial, interdisciplinary atmosphere, while educating outstanding students to become creative members of society. All students complete a six-semester interdisciplinary core, one semester of college algebra, one semester of introductory statistics and critical problem solving, two semesters of science, one semester of Orthodox Christian theology, and one semester of New Testament. 7351668 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 406 0 1 139 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 1 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X Laurel Maguire 7609431107 277 Rancheros Dr Suite 200 San Marcos CA 92069 Daniel Braun Chairman of the Board 1.00 X X 0 0 0 Concetta Smarius - Treasurer Chair Audit & Finance Comm 1.00 X X 0 0 0 Angelo Georggin Esq Trustee 1.00 X 0 0 0 Arturo Alemany Trustee 1.00 X 0 0 0 Carol Vassiliadis Trustee 1.00 X 0 0 0 Despina Georggin Esq Trustee 1.00 X 0 0 0 John Dempsey Trustee 1.00 X 0 0 0 Penny Brunner Trustee 1.00 X 0 0 0 Steven Kreta Trustee 1.00 X 0 0 0 Thomas Buchanan Trustee 1.00 X 0 0 0 Terry Orr-Weaver Trustee 1.00 X 0 0 0 Andrew Geleris Trustee 1.00 X 0 0 0 Tom Braun Trustee 1.00 X 0 0 0 Dr Frank Papatheofanis President/Interim Secretary 40.00 X 140000 0 0 Charlotte Fowler CFO 20.00 X 0 0 0 Marina Trigoni Chief Operating Officer / VP of Enrollment Mgmt 40.00 X 114516 0 0 254516 0 0 2 0 0 0 PBO Advisory Group 3655 Nobel Drive Ste 520 San Diego CA 92122 Accounting 153844 1 1013573 551810 1565383 Tuition & fees 611310 6652700 6652700 Bookstore & late fees 451211 35556 35556 6688256 189 189 129587 92130 37457 37457 37457 Credit card rewards 900099 10379 10379 53630 53630 64009 8355294 6688256 0 101655 3122812 3122812 140000 140000 2770454 2447018 323436 244180 195344 48836 75803 75803 394 394 20634 20634 142728 55000 87728 90051 5795 81856 2400 50202 32790 17412 161578 48575 111646 1357 727192 576051 151141 165792 165591 201 2598 2598 33914 32557 1357 59463 22058 37405 Athletic Equip/Uniforms 547521 547521 Memberships 102891 43437 46101 13353 Other operations 67462 15854 51608 Student life/bookstore 41265 41265 8566934 7351668 1198156 17110 25970 37179 1178439 1061346 706249 748550 93158 48093 2267 92729 171916 442394 299875 147151 142519 324550 122502 231627 0 2802140 2332105 146380 79864 409073 250288 70616 37522 626069 367674 X 1469822 1215881 706249 748550 2176071 1964431 2802140 2332105 -211640 0 X 0 1 X 1 1 1 X 616014 308758 1127728 880970 1565383 4498853 616014 308758 1127728 880970 1565383 4498853 656100 3842753 14613 33019 129776 177408 14600 14600 18891 11313 262891 17020 64009 374124 5064985 25824941 0.75870 0.55930 X Schedule A, Part II, Line 10, Explanation of Other Income: Other income - 2017 Amount: $ 18,891. 2018 Amount: $ 11,313. 2019 Amount: $ 31,692. 2020 Amount: $ 17,020. 2021 Amount: $ 64,009. ERC - 2019 Amount: $ 231,199. Schedule A, Part II: The organization is a school as described under 170(b)(1)(A)(ii) and is not required to complete a public support schedule. Schedule A, Part II is completed to verify the School can qualify under public charity status section 170(b)(1)(A)(vi) and, therefore, qualifies to use the first listed special rule for Schedule B reporting. Schedule A, Part II, Columns (a) - (e): Per the instructions public support is measured using a 5-year computation period that includes the current and four prior tax years (including short years). The organization had a short year in 2021. The below chart clarifies the information represented in Schedule A, Part II: Column (a) - Twelve months ending 12/31/2018 Column (b) - Twelve months ending 12/31/2019 Column (c) - Twelve months ending 12/31/2020 Column (d) - Six month period ending 6/30/2021 Column (e) - Twelve months ending 06/31/2022 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 199236 172962 26274 243158 126913 116245 142519 Student notes receivable 122502 C 122502 5731944 92130 92130 5639814 2715480 2715480 8355294 5943584 92130 92130 5851454 2715480 2715480 8566934 Part XI, Line 2d - Other Adjustments: Rental expenses 92,130. Part XI, Line 4b - Other Adjustments: Scholarships netted against revenue 2,715,480. Part XII, Line 2d - Other Adjustments: Rental expenses 92,130. Part XII, Line 4b - Other Adjustments: Scholarships netted against revenue 2,715,480. 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 organization currently enrolls students of racial minority groups in meaningful numbers consistent with the publicity exception found in Rev. Proc. 75-50 section 4.03(2)(b). The University has updated its website to be in full compliance with the Rev. Proc. 2019-22 standards in order to check yes to Line 3 on future Form 990s without relying on one of the exceptions. Schedule E, Part I, Line 6 Federal financial aid funds are received from the U.S. Department of Education under Title IV of the Higher Education Act. The grants are provided to USK to award student assistance under the following programs: Federal Work Study (FWS) and Supplemental Educational Opportunity Grant (SEOG). During the tax year, USK applied for and received the Higher Education Emergency Relief Fund (HEERF) grants to provide emergency financial aid grants to students for expenses related to the disruption of campus operations due to the coronavirus (COVID-19) outbreak. USK also used the funds to reimburse themselves for refunds of tuition, as well as supplies needed due to the impact of COVID-19, thus meeting the conditions of the grant. 1 HEERF Grants 259 407332 Scholarships 262 2715480 Part I, Line 2: University of Saint Katherine awards financial aid to students in accordance with the University's institutional financial aid policies. All scholarships and grants are awarded to current students of the institution, thus enabling the institution to track their academic performance and use of all scholarship and grant funds. Academic awards to new students are based on test scores and GPA. Scholarships and grant funds are directly applied to the student accounts, with no cash changing hands. Form 990, Part VI, Section A, line 1a The organization has an Executive Committee made up of the Board Chair, Board Secretary, and one additional Board member. The Executive Committee has the broad authority to act on behalf of the full Board. Form 990, Part VI, Section A, line 2 Angelo Georggin (trustee) and Despina Georggin (trustee) have a family relationship. Daniel Braun (Board Chair) and Tom Braun (trustee) have a family relationship. Form 990, Part VI, Section A, line 3 PBO Advisory Group provided outsourced CFO services to University of Saint Katherine during the tax year. Charlotte Fowler, listed on Form 990 Part VII as CFO, was compensated $114,308 during calendar year 2021. Ms. Fowler performed a variety of management functions, including planning and executing budgets, supervising personnel, and executing financial operations. Form 990, Part VI, Section B, line 11b The Form 990 is prepared by an independent CPA firm and is reviewed in detail by the CFO and President. A copy of the Form 990 is provided to the organization's governing body before it is filed with the Internal Revenue Service. Form 990, Part VI, Section B, line 12c Board members and officers sign an annual conflict of interest policy. The signed statements are reviewed by the President as well as the Audit and Finance Committee chair. If a confict arises, then it is addressed by the board and actions are executed accordingly. Any board member or officer with a conflict would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship. Form 990, Part VI, Section B, line 15 The compensation arrangement for the President was approved in advance by an authorized body of the organization composed entirely of individuals who do not have a conflict of interest with respect to the compensation arrangement. The authorized body obtained and relied upon appropriate comparability data prior to making its determination. The authorized body adequately documented the basis for its determination concurrently with making that determination, including the voting record. Form 990, Part VI, Section B, Line 15: The compensation arrangement for Charlotte Fowler was approved in advance by the President and COO of the organization who do not have a conflict of interest with respect to the compensation arrangement. The individuals obtained and relied upon appropriate comparability data prior to making its determination. A signed contract was entered into documenting the basis for its determination. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy, and financial statements are available upon request.