2023-05-09T11:46:10-05:00 2022-06-30 420714325 RSM US LLP 1001 WATER ST STE 500 TAMPA FL 33602 990 2021-07-01 520591672 MOUNT SAINT MARY'S UNIVERSITY MOUN 3014476122 16300 OLD EMMITSBURG ROAD EMMITSBURG MD 21727 WILLIAM E DAVIES VP BUSINESS AND FINANCE 3014476122 2023-05-08 1 WILLIAM DAVIES XXX-XX-XXXX KRISTEN BARNETT P01234578 8133162300 2023-05-08 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z TIMOTHY E TRAINOR 16300 OLD EMMITSBURG ROAD EMMITSBURG MD 21727 156298335 0 X WWW.MSMARY.EDU X 1808 MD MOUNT ST. MARY'S UNIVERSITY, THE SECOND OLDEST CATHOLIC UNIVERSITY IN THE U.S., (SEE SCHEDULE O), OFFERS MORE THAN 60 ACADEMIC MAJORS, MINORS, AND CONCENTRATIONS. GRADUATE PROGRAMS IN BUSINESS, EDUCATION, PHILOSOPHY, THEOLOGY AND DIVINITY ARE ALSO OFFERED ALONG WITH ACCELERATED UNDERGRADUATE PROGRAMS IN BUSINESS AND CRIMINAL JUSTICE. STUDENTS PARTICIPATE IN MORE THAN 70 CLUBS AND HONOR SOCIETIES. STUDENTS ALSO TAKE ADVANTAGE OF THE COMMUNITY SERVICE AND OUTDOOR ADVENTURE PROGRAMS THAT ARE OFFERED BOTH LOCALLY AND ABROAD. IN ADDITION, THE UNIVERSITY HAS 22 VARSITY SPORTS AT THE NCAA DIVISION 1 LEVEL. 30 30 1445 35 162885 0 13098199 29875993 104920251 109580018 8175077 10183228 49982 61393 126243509 149700632 54307515 56486798 0 0 36658445 39238730 119740 101810 2026518 31906548 37040066 122992248 132867404 3251261 16833228 202133149 207235664 88139926 87210020 113993223 120025644 X AS A CATHOLIC UNIVERSITY, MOUNT ST. MARY'S GRADUATES ETHICAL LEADERS WHO ARE INSPIRED BY A PASSION FOR LEARNING AND LEAD LIVES OF SIGNIFICANCE IN SERVICE TO GOD AND OTHERS. 0 0 76485537 56486798 87432478 INSTRUCTIONAL PROGRAMS FOR 2806 STUDENTS CONSISTING OF 2176 UNDERGRADUATE STUDENTS, 179 GRADUATE STUDENTS IN BUSINESS ADMINISTRATION, 132 GRADUATE STUDENTS IN EDUCATION, 172 GRADUATE STUDENTS IN THEOLOGY, 20 GRADUATE STUDENTS IN HEALTH ADMINISTRATION, 47 GRADUATE STUDENTS IN BIOTECHNOLOGY AND MANAGEMENT, 35 GRADUATE STUDENTS IN SPORTS MANAGEMENT, 3 GRADUATE STUDENTS IN PHILOSOPHICAL STUDIES, 36 GRADUATE STUDENTS IN APPLIED BEHAVIOR ANALYSIS, AND 6 NON-DEGREE SEEKING GRADUATE STUDENTS. THE UNIVERSITY AWARDED A TOTAL OF 656 DEGREES AND CERTIFICATES COMPRISED OF 441 BACHELOR'S DEGREES, 40 POST-BACCALAUREATE CERTIFICATES, 137 MASTER'S DEGREES, AND 38 THEOLOGY MASTER'S DEGREES. 23281280 21984655 AUXILIARY ENTERPRISES WHICH IS COMPRISED OF ATHLETICS, STUDENT HOUSING, DINING SERVICES, POST OFFICE, VENDING, PHYSICAL PLANT, LAUNDRY AND PUBLIC SAFETY. 8401965 STUDENT SERVICES FOR THE ENTIRE STUDENT BODY. THIS INCLUDES COUNSELING/HEALTH CENTER, STUDENT AFFAIRS, AND STUDENT ACTIVITIES. 6169170 ACADEMIC SUPPORT 5660527 INSTITUTIONAL SUPPORT 11829697 119998479 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 0 1 1 0 1 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 192 0 1 1445 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 30 30 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MD X WILLIAM E DAVIES 3014476122 16300 OLD EMMITSBURG ROAD EMMITSBURG MD 21727 GRACELYN A MCDERMOTT CHAIR OF THE BOARD 15.00 X X 0 0 0 RICHARD P MILLER VICE CHAIR OF THE BOARD 10.00 X X 0 0 0 DAVID P CONAGHAN SECRETARY 10.00 X X 0 0 0 RICHARD M FOLIO TREASURER 10.00 X X 0 0 0 KOKI ADASI TRUSTEE 5.00 X 0 0 0 ANTHONY J AGNONE TRUSTEE 5.00 X 0 0 0 WAYNE E ALTER III TRUSTEE 5.00 X 0 0 0 HON JENNIFER M ANDERSON TRUSTEE THRU 10/18/2021 5.00 X 0 0 0 FRANCIS X BOLTE TRUSTEE 5.00 X 0 0 0 HOWARD N BOLTE TRUSTEE THRU 10/18/2021 5.00 X 0 0 0 EDWARD M CARUSO TRUSTEE THRU 10/18/2021 5.00 X 0 0 0 PAUL J CHEW TRUSTEE 5.00 X 0 0 0 KENNETH B CHODNICKI TRUSTEE 5.00 X 0 0 0 J RAPHAEL DELLA RATTA TRUSTEE 5.00 X 0 0 0 ROBERT C DONDERO TRUSTEE 5.00 X 0 0 0 JOSEPH F DOWD JR TRUSTEE 5.00 X 0 0 0 JEREMY M ELLERMEYER TRUSTEE 5.00 X 0 0 0 REV MSGR JOHN J ENZLER TRUSTEE 5.00 X 0 0 0 REV J KEVIN FARMER TRUSTEE 5.00 X 0 0 0 PATRICK J GOLES TRUSTEE 5.00 X 0 0 0 ANTHONY J HAYDEN TRUSTEE 5.00 X 0 0 0 MARY D KANE TRUSTEE THRU 10/18/2021 5.00 X 0 0 0 PRISCILLA W LOCKE TRUSTEE 5.00 X 0 0 0 MOST REVEREND WILLIAM E LORI TRUSTEE 5.00 X 0 0 0 HUGH W MOHLER JR TRUSTEE 5.00 X 0 0 0 JANICE I OBUCHOWSKI TRUSTEE 5.00 X 0 0 0 SCOTT NEWKAM TRUSTEE THRU 5/28/22 5.00 X 0 0 0 PAUL J PALMIERI TRUSTEE 5.00 X 0 0 0 SOPHIA PARKER TRUSTEE 5.00 X 0 0 0 WILLIAM S ROOHAN TRUSTEE 5.00 X 0 0 0 HOUEIDA SAAD TRUSTEE 5.00 X 0 0 0 REV ROBERT J SULLIVAN TRUSTEE 5.00 X 0 0 0 TAMIKA L TREMAGLIO TRUSTEE 5.00 X 0 0 0 NADJA Y WEST TRUSTEE 5.00 X 0 0 0 REV KEVIN W WILDES SJ TRUSTEE 5.00 X 0 0 0 TIMOTHY E TRAINOR PRESIDENT 50.00 X 422304 0 113000 WILLIAM E DAVIES VP, BUSINESS & FINANCE 50.00 X 286249 0 38682 DR BOYD CREASMAN VP, ACADEMIC AFFAIRS & PROVOST 50.00 X 224962 0 19642 JACK J CHIELLI VP, COMM & ENROLL MGT 50.00 X 222279 0 42096 KRAIG SHEETZ EXECUTIVE VICE PRESIDENT 50.00 X 197809 0 12451 ROBERT J BRENNAN VP, ADVANCEMENT 50.00 X 182876 0 37323 DR PAULA M WHETSEL-RIBEAU VP, EQUITY AND SUCCESS 50.00 X 182814 0 20458 ANDREW R BAKER VP & SEMINARY RECTOR 50.00 X 124497 0 20740 LEVI ESSES VP, STUDENT LIFE 50.00 X 114610 0 26179 EARL BERNARD FRANKLIN VP, STUDENT LIFE THRU 12/2021 50.00 X 201206 0 20064 DANIEL F ENGELSTAD HEAD MEN'S BASKETBALL COACH 50.00 X 193626 0 12375 DAVID M MCCARTHY ASSOCIATE PROVOST/PROFESSOR 50.00 X 158733 0 9272 CHRISTINE MCCAUSLIN DEAN, SCHOOL OF NATURAL SCIENCE & MATH 50.00 X 143724 0 8659 JENNIFER STAIGER ASSOC PROVOST OF GRADUATE, PROF. & CE 50.00 X 142448 0 8576 JAMES MYLES HEAD MEN'S RUGBY COACH 50.00 X 133225 0 32703 PAULINE ENGELSTATTER FORMER VP, UNIVERSITY AFFAIRS 50.00 X 105258 0 15113 3036620 0 437333 45 1 1 0 ARAMARK RECEIVABLES LLC 27310 NETWORK PLACE CHICAGO IL 606731273 FOOD SERVICES 5539143 MORGAN-KELLER INC 70 THOMAS JOHNSON DRIVE FREDERICK MD 21702 CONSTRUCTION SERVICES 3268444 JEM GROUP LLC 214 SENATE AVE SUITE 302 CAMP HILL PA 17011 CONSTRUCTION SERVICES 1477500 RUFFALO NOEL LEVITZ LLC PO BOX 718 DES MOINES IA 503030718 STUDENT RECRUITMENT 1310265 S&W CONSTRUCTION 1 YELLOWBIRD TRAIL FAIRFILED PA 17320 CONSTRUCTION SERVICES 1087502 51 4020 19412868 10459105 1864437 29875993 TUITION & FEES 611310 87432478 87432478 AUXILIARY ENTERPRISE 611710 22048487 21984655 63832 CONFERENCES & GROUPS 611600 80812 80812 OTHER SERVICES 221000 18241 18241 109580018 8255708 8255708 8495167 6564253 3394 1930914 -3394 1927520 1927520 65455 4020 27841 37614 37614 25994 2215 23779 23779 149700632 109417133 162885 10244621 56486798 56486798 2531185 612321 1749673 169191 29016650 26741609 1592075 682966 1302590 1136532 131551 34507 4228349 3689305 427030 112014 2159956 1884597 218139 57220 80295 80295 104874 104874 101810 101810 314539 314539 4552233 3482458 914999 154776 1252140 957887 251680 42573 1978580 1513613 397694 67273 1722902 1318020 346303 58579 1583789 1357307 172633 53849 2361345 2023672 257387 80286 119356 91307 23991 4058 3125905 2391318 628307 106280 7177840 6359566 782385 35889 825104 731042 89936 4126 DINING SERVICES 5779301 5779301 OTHER EXPENSE 4954723 3441826 1251776 261121 ATHLETIC CONF. TRANS. 678500 678500 UNCOLLECTIBLES 428640 428640 132867404 119998479 10842407 2026518 545512 12587 30427806 31172203 3685799 13511407 2041411 1792262 1180533 658727 182507 182947 1556550 2340810 215178280 123416296 89082681 91761984 34222697 46717392 29746968 11174844 9460685 7910501 202133149 207235664 8809326 9889814 5649592 5759730 58769306 58657610 1920000 1260000 12991702 11642866 88139926 87210020 X 38804524 46810207 75188699 73215437 113993223 120025644 202133149 207235664 X 16833228 -9559859 -1240948 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 6534 0 1 12927 19461 0 PART II-B, LINE 1: MSMU IS A MEMBER OF THE MARYLAND INDEPENDENT COLLEGE AND UNIVERSITY ASSOCIATION (MICUA) A MICUA ALLOCATES A PORTION OF THE DUES ASSESSMENT TO NONDEDUCTIBLE LOBBYING AND POLITICAL EXPENDITURES. THIS REPRESENTS THE % OF DUES ALLOCATED TO THAT ACTIVITY. 708519 X 0 64126845 2927792 -5228834 2402702 220657 59202444 54459144 612473 11562469 2280221 210105 64143760 54281563 952600 1697479 2270100 202398 54459144 52340389 1527172 2568799 1961328 193469 54281563 50321692 551492 3534715 1882683 184827 52340389 0.24120 0.55160 0.20720 0 0 2063503 2063503 162686956 93385934 69301022 42509 42509 0 39760386 29545514 10214872 10624926 442339 10182587 91761984 MULTI-STRATEGY HEDGE FUNDS 10894811 F LIFE INSURANCE CASH SURRENDER VALUE 280033 F 11174844 ANNUNITIES PAYABLE 618495 US GOVERNMENT ADVANCES FOR STUDENT LOANS 360322 DEPOSITS 22469 LEASE PAYABLE 360804 OTHER LIABILITIES 153626 NON-RECOURSE OBLIGATION 6760617 ROU LEASE PAYABLE 3366533 11642866 X 87502829 -9559859 -46554953 -56114812 143617641 220657 5862334 6082991 149700632 80229460 2303961 2303961 77925499 220657 54721248 54941905 132867404 PART III, LINE 4: THE UNIVERSITY'S COLLECTION CONSISTS OF ITEMS ASSOCIATED WITH THE HISTORY OF THE UNIVERSITY AND IS MAINTAINED IN THE ARCHIVES. THERE ARE ALSO VARIOUS WORKS OF ART IN CHAPELS ACROSS CAMPUS. THIS COLLECTION PROMOTES OUR EDUCATIONAL PURPOSE BY PROVIDING HISTORICALLY SIGNIFICANT RESEARCH MATERIAL FOR STUDENTS AND PROFESSORS. PART V, LINE 4: THE UNIVERSITY'S ENDOWMENT PROVIDES FUNDS TO SUPPORT STUDENT FINANCIAL AID, FACULTY SALARIES AND THE GENERAL OPERATIONS OF THE UNIVERSITY. PART X, LINE 2: THE UNIVERSITY IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. THE UNIVERSITY FOLLOWS THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE UNIVERSITY MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. MANAGEMENT EVALUATED THE UNIVERSITY'S TAX POSITIONS AND CONCLUDED THAT THE UNIVERSITY HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. NO PROVISION FOR INCOME TAXES WAS REQUIRED FOR 2022 OR 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIP ALLOWANCES NETTED AGAINST STUDENT REVENUE -54,721,248. RELATED ENTITY REVENUE INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENT 8,166,295. PART XI, LINE 4B - OTHER ADJUSTMENTS: EQUITY IN INCOME OF SUBSIDIARY 5,862,334. PART XII, LINE 2D - OTHER ADJUSTMENTS: RELATED ENTITY EXPENSES INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENT 2,303,961. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP ALLOWANCES NETTED AGAINST STUDENT REVENUE 54,721,248. 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'S NON-DISCRIMINATION POLICY IS OPENLY REPORTED TO THE PUBLIC THROUGH THE UNIVERSITY'S WEBSITE, STUDENT CATALOGS, EMPLOYMENT POLICIES AND PROCEDURES AND THROUGH PUBLIC RELATIONS EFFORTS. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES FUNDS FROM FEDERAL AND STATE AGENCIES FOR STUDENT FINANCIAL AID AND OTHER PURPOSES. FUNDING SOURCES WERE US DEPARTMENT OF EDUCATION, FEDERAL EMERGENCY MANAGEMENT AGENCY, NATIONAL SCIENCE FOUNDATION, NATIONAL INSTITUTE OF HEALTH, NATIONAL ENDOWMENT FOR THE HUMANITIES, AND THE STATE OF MARYLAND SELLINGER PROGRAM. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 2131695 EUROPE (INCLUDING ICELAND & GREENLAND) 0 8 PROGRAM SERVICES FACULTY MEMBERS TEACHING STUDENTS ABROAD 74365 0 8 0 0 0 8 2206060 0 2206060 1 0 0 0 0 0 PART III ACCOUNTING METHOD: X X X X X X X 1 CAMPBELL & COMPANY ONE EAST WACKER DRIVE SUITE 2100 CHICAGO IL 60601 FUNDRAISING COUNSEL & COMMUNICATIONS 0 0 8810 -8810 RO WALKER COMPANY 11511 SKIPWITH LANE POTOMAC MD 20854 FUNDRAISING COUNSEL & COMMUNICATIONS 0 0 93000 -93000 101810 -101810 MD VA BASEBALL FUNDRAISER GOLF TOURNAMENT 27675 1275 26400 2316 10229 262 "MATTY CUP" GOLF TOURNAMENT 18520 1245 17275 1000 12172 900 200 2 23280 1500 21780 297 466 69475 4020 65455 3316 22401 1197 928 27842 37613 25994 2215 0 25994 2215 2215 23779 MD 1 WE OBTAIN AN ANNUAL GAMING LICENSE FROM THE STATE OF MARYLAND EACH YEAR. 0 0 0 1.00000 ROBERT RUDD 16300 OLD EMMITSBURG ROAD EMMITSBURG MD 21727 0 ROBERT RUDD 5177 SECURING GAMING LICENSES AND MANAGING GAMING EVENTS X 0 1 STUDENT FINANCIAL AID 2261 54721248 BOOK VALUE ASSIST WITH COST OF TUITION, ROOM AND BOARD HEERF III DISTRIBUTION TO STUDENTS 2563 1765550 PART I, LINE 2: THE UNIVERSITY'S USE OF GRANT FUNDS IS TO PROVIDE FINANCIAL AID TO OUR STUDENTS. WE MONITOR THE USE OF THESE UNIVERSITY FUNDS IN ACCORDANCE WITH ESTABLISHED LEVELS OF AWARDS BASED ON A STUDENT'S MERIT CLASSIFICATION AND ON AN ANNUAL BUDGET. THE UNIVERSITY FOLLOWS ALL REGULATIONS RELATIVE TO THE AWARDING OF FINANCIAL ASSISTANCE WHICH IS MONITORED BY THE FINANCIAL AID OFFICE. THE UNIVERSITY RECEIVED CARES ACT AND HEERF FUND DISTRIBUTIONS FROM THE FEDERAL GOVERNMENT. THESE FUNDS WERE DIRECTED BY THE FEDERAL GOVERNMENT TO BE DISTRIBUTED TO STUDENTS WHO WERE FINANCIALLY IMPACTED BY COVID 19. THE UNIVERSITY ACTED AS A PASS THROUGH OF THESE FUNDS AS THEY WERE RECEIVED AND THEN DISTRIBUTED VIA CHECK TO THOSE STUDENTS WITH MOST NEED AS A RESULT OF THE PANDEMIC. X X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 TIMOTHY E TRAINOR PRESIDENT 393000 0 0 0 29304 0 97400 0 20047 0 539751 0 0 0 WILLIAM E DAVIES VP, BUSINESS & FINANCE 263865 0 0 0 22384 0 16200 0 25517 0 327966 0 0 0 JACK J CHIELLI VP, COMM & ENROLL MGT 219075 0 0 0 3204 0 13635 0 31322 0 267236 0 0 0 DR BOYD CREASMAN VP, ACADEMIC AFFAIRS & PROVOST 221530 0 0 0 3432 0 7185 0 15258 0 247405 0 0 0 ROBERT J BRENNAN VP, ADVANCEMENT 174287 0 0 0 8589 0 9000 0 32054 0 223930 0 0 0 EARL BERNARD FRANKLIN VP, STUDENT LIFE THRU 12/2021 197966 0 0 0 3240 0 6060 0 14550 0 221816 0 0 0 KRAIG SHEETZ EXECUTIVE VICE PRESIDENT 196923 0 0 0 886 0 11852 0 2189 0 211850 0 0 0 DANIEL F ENGELSTAD HEAD MEN'S BASKETBALL COACH 183226 0 10000 0 400 0 11100 0 2172 0 206898 0 0 0 DR PAULA M WHETSEL-RIBEAU VP, EQUITY AND SUCCESS 180311 0 0 0 2503 0 10983 0 11781 0 205578 0 0 0 DAVID M MCCARTHY ASSOCIATE PROVOST/PROFESSOR 158733 0 0 0 0 0 9272 0 340 0 168345 0 0 0 JAMES MYLES HEAD MEN'S RUGBY COACH 133225 0 0 0 0 0 4242 0 28776 0 166243 0 0 0 CHRISTINE MCCAUSLIN DEAN, SCHOOL OF NATURAL SCIENCE & MA 142740 0 0 0 984 0 8659 0 2410 0 154793 0 0 0 JENNIFER STAIGER ASSOC PROVOST OF GRADUATE, PROF. & C 141427 0 0 0 1021 0 8576 0 1884 0 152908 0 0 0 PAULINE ENGELSTATTER FORMER VP, UNIVERSITY AFFAIRS 101486 0 0 0 3772 0 6335 0 10051 0 121644 0 0 0 PART I, LINE 1A IT IS THE UNIVERSITY'S POLICY TO REIMBURSE EMPLOYEES FOR BUSINESS EXPENSES INCURRED BY THE EMPLOYEE TO FURTHER THE MISSION OF THE UNIVERSITY. INFREQUENTLY, IN ACCORDANCE WITH IRS GUIDELINES, THE UNIVERSITY MAY REIMBURSE AN EMPLOYEE FOR THE COST OF A SPOUSE WHO ATTENDS A FUNCTION HAVING A SIGNIFICANT ROLE OR IS INVOLVED WITH FUNDRAISING WHICH CONSTITUTES A BUSINESS PURPOSE. THE UNIVERSITY HAS AN EMPLOYMENT CONTRACT WITH ITS PRESIDENT TIM TRAINOR. IN ACCORDANCE WITH THE TERMS OF THIS CONTRACT THE UNIVERSITY PROVIDES HOUSING FOR THE PRESIDENT FOR THE CONVENIENCE OF THE EMPLOYER WHICH IS A NON-TAXABLE BENEFIT IN ACCORDANCE WITH IRS GUIDELINES. THE VALUE OF THE NON-TAXABLE HOUSING WAS ESTIMATED AT $15,600. THE UNIVERSITY HAS AN EMPLOYMENT CONTRACT WITH ITS VICE PRESIDENT ANDREW BAKER. IN ACCORDANCE WITH THE TERMS OF THIS CONTRACT THE UNIVERSITY PROVIDES HOUSING FOR THE CONVENIENCE OF THE EMPLOYER WHICH IS A NON-TAXABLE BENEFIT IN ACCORDANCE WITH IRS GUIDELINES. THE VALUE OF THE NON-TAXABLE HOUSING WAS $11,265. PART I, LINE 4B TIMOTHY TRAINER PARTICIPATES IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN 457(F) AND THE UNIVERSITY CONTRIBUTED $80,000 DURING CALENDAR YEAR 2021. THIS AMOUNT IS PROPERLY REPORTED ON SCHEDULE J, PART II, COLUMN (C). A TOWN OF EMMITSBURG 526017142 2009-12-29 1250000 RENOVATIONS TO RESIDENCE HALL 0 0 0 B COUNTY COMMISSIONERS OF FREDERICK COUNTY 526000943 355697CG6 2017-12-21 59172319 DEBT REFINANCING 0 0 0 A 1250000 92516 1157484 2010 0 0 1 1 B 660000 59172319 3822499 1146332 3007599 51195889 1 0 0 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 0 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 0 0 0 0 0 A 1 B 1 SERIES 2017A BOND THE ISSUES PRICE OF THE BOND PER FORM 8038 WAS $59,172,319 AND THE STATED REDEMPTION OF THE BOND IS 54,590,000. THE DIFFERENCE BETWEEN THE TWO REPRESENTS NONREFUNDING PROCEES OF THE ISSUES IN THE AMOUNT OF $3,007,599. X 77 1864437 FMV 0 0 1 0 PART I, COLUMN (B): REPORTING THE NUMBER OF CONTRIBUTIONS FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PRESENTED TO THE AUDIT COMMITTEE OF THE BOARD FOR THEIR REVIEW PRIOR TO FILING WITH THE IRS. A COPY OF THE FORM 990 IS PROVIDED TO EACH MEMBER OF THE UNIVERSITY'S GOVERNING BODY BEFORE FILING THE FORM. FORM 990, PART VI, SECTION B, LINE 12C COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY IS MONITORED BY THE OFFICE OF THE PRESIDENT. CONFLICTS WITH MEMBERS OF THE BOARD OF TRUSTEES ARE DISCLOSED, AND DISTRIBUTED TO RELEVANT DEPARTMENTS ANNUALLY. TRANSACTIONS WITH THESE PARTIES ARE SEPARATELY REVIEWED. AN INDIVIDUAL OR TRUSTEE WITH A CONFLICT REMOVES THEMSELVES FOR THE DELIBERATIONS AND DECISION. FORM 990, PART VI, SECTION B, LINE 15A THE PRESIDENT PRESENTS A SELF-EVALUATION TO THE BOARD OF TRUSTEES BASED ON AGREED UPON PERFORMANCE GOALS. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES REVIEW SALARY AND BENEFIT COMPARISON DATA COMPILED FROM SEVERAL SOURCES FOR INSTITUTIONS OF SIMILAR SIZE AND SCOPE. THE FULL BOARD DISCUSSES THE PRESIDENT'S PERFORMANCE AND REVIEWS THE COMPARATIVE SALARY DATA. THE EXECUTIVE COMMITTEE MAKES THE FINAL DECISION ON THE PRESIDENT'S SALARY AND DEFERRED COMPENSATION IF APPLICABLE, WHICH IS COMMUNICATED TO THE FULL BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE IS COMPRISED OF INDEPENDENT MEMBERS AND THE MEETINGS ARE DOCUMENTED BY FORMAL MINUTES. FOR OTHER OFFICERS OR HIGHLY COMPENSATED EMPLOYEES, SURVEY DATA PROVIDED BY CUPA IS USED ALONG WITH COMPENSATION DATA FROM PEER ORGANIZATIONS. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -1,240,948. THE MOUNT CLUB INC 16300 OLD EMMITSBURG ROAD EMMITSBURG MD 21272 520591672 LIQUOUR SALES MD 0 0 MOUNT SAINT MARYS UNIVERSITY MOUNT ST MARY'S SEMINARY 16300 OLD EMMITSBURG RD EMMITSBURG MD 21727 611936188 TO SUPPORT UNIVERSITY MD 501(C)(3) LINE 1 MOUNT SAINT MARYS UNIVERSITY 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 MOUNT ST MARY'S SEMINARY L 187153 ALLOCATED MOUNT ST MARY'S SEMINARY N 1319713 ALLOCATED MOUNT ST MARY'S SEMINARY O 1255040 ALLOCATED MOUNT ST MARY'S SEMINARY Q 1931992 ALLOCATED