2022-04-18T12:08:25-05:00 2021-05-31 390859910 BAKER TILLY US LLP 1570 FRUITVILLE PIKE SUITE 400 LANCASTER PA 17601 990 2020-06-01 240795441 KEYSTONE COLLEGE KEYS 5709458000 ONE COLLEGE GREEN LA PLUME PA 18440 F STUART RENDA VP OF FINANCE & ADMINISTRATION 5709458000 2022-04-18 1 F STUART RENDA 999009999 KERRI N BOGDA CPA P00760402 7177404863 X 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z F STUART RENDA ONE COLLEGE GREEN LA PLUME PA 18440 32341194 0 X WWW.KEYSTONE.EDU X 1935 PA EDUCATING STUDENTS IN A LIBERAL ARTS TRADITION FOSTERING A GLOBAL PERSPECTIVE ON LIFE-LONG LEARNING. 16 15 502 22 0 0 5791072 7335848 33071980 22186608 342686 19908 473074 2764663 39678812 32307027 14107072 5489683 0 0 12826181 11270104 0 0 37579 14036772 13322871 40970025 30082658 -1291213 2224369 39147400 35973065 28339964 22574253 10807436 13398812 KEYSTONE COLLEGE EDUCATES STUDENTS IN A LIBERAL ARTS TRADITION THAT VALUES CIVILITY, INTEGRITY, AND CURIOUSITY, FOSTERING A GLOBAL PERSPECTIVE ON CULTURAL DIVERSITY, ENVIRONMENTAL SUSTAINABILITY, AND LIFE-LONG LEARNING. 0 0 24501122 5489683 22186608 KEYSTONE COLLEGE IS A VIBRANT AND DIVERSE CAMPUS WHEREBY OUR GRADUATES ARE LIFE-LONG LEARNERS WHO ARE ACTIVELY ENGAGED, CONTRIBUTE TO THEIR COMMUNITIES, AND THRIVE IN THE WORLD. NEARLY 1,400 STUDENTS COME FROM NEARBY STATES SUCH AS NEW YORK, NEW JERSEY, AND MARYLAND, AS WELL AS NATIONALLY AND INTERNATIONALLY. KEYSTONE COLLEGE IS A FULLY ACCREDITED AND HIGHLY RESPECTED INSTITUTION OF HIGHER EDUCATION OFFERING ASSOCIATE, BACHELOR'S AND MASTER'S DEGREES. 24501122 1 0 0 0 0 0 0 1 0 1 1 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 40 0 502 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 16 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X F STUART RENDA VP OF FINANCE AD 5709458000 ONE COLLEGE GREEN LA PLUME PA 18440 MICHAEL NARCAVAGE III TRUSTEE 2.00 X 0 0 0 TRACY BRUNDAGE PRESIDENT 50.00 X X 227998 0 27666 JOHNATHAN VIPOND III TRUSTEE 2.00 X 0 0 0 DR BERNADINE AHONKHAI TRUSTEE 2.00 X 0 0 0 SAM CECCACCI TRUSTEE 2.00 X 0 0 0 JENNIFER J WALSH TRUSTEE 2.00 X 0 0 0 JANE OPPENHEIM TRUSTEE 2.00 X 0 0 0 JAMES CLARK CHAIR 2.00 X X 0 0 0 DAN HAGGERTY CHAIR ELECT 2.00 X X 0 0 0 JAMES B DAVIS TRUSTEE 2.00 X 0 0 0 JOHNATHAN L DAVIS TRUSTEE 2.00 X 0 0 0 NATALIE GELB TRUSTEE 2.00 X 0 0 0 KIRBY HICKEY FIRST VICE-CHAIR 2.00 X X 0 0 0 GRETCHEN LUDDERS TRUSTEE 2.00 X 0 0 0 JOHN S MORRISON SECRETARY 2.00 X X 0 0 0 JASON WASHO TRUSTEE 2.00 X 0 0 0 JANINE BECKER VP FOR ENROLLMENT & MARKET 50.00 X 0 0 0 F STUART RENDA VP OF FINANCE AND ADMINISTRATION 50.00 X 146242 0 7242 KAREN K YARRISH PROVOST/VP FOR ACAD. AFFAIRS (UNTIL 6/21) 50.00 X 65814 0 5503 FRANCES LANGAN VP FOR INSTITUTIONAL ADVANCEMENT 40.00 X 124353 0 6963 564407 0 47374 3 0 1 0 SODEXO DINING SERVICES PO BOX 360170 PITTSBURGH PA 15251 FOOD SERVICES 2653058 SODEXO FACILITIES PO BOX 360170 PITTSBURGH PA 15251 GROUNDS AND FACILITIES 1374849 RUTLEDGE EXCAVATING INC 88 GAILLEE ROAD TYLER HILL PA 18469 CONSTRUCTION 759093 ATR LAPLUME LLC SOUTH MAIN AVENUE SCRANTON PA 18504 CONSTRUCTION 701404 CAPITAL EDUCATION 1650 TYSONS BLVD MCLEAN VA 22102 EDUCATION SERVICES 608301 19 10000 6454381 871467 7335848 TUITION AND FEES 611310 22186608 22186608 22186608 4493 4493 35100 34167 933 933 933 15415 0 15415 15415 15415 2600 0 2600 2600 GAIN ON DEBT REFINANCING 900099 2440000 2440000 EARLY EDUCATION TRAINING CENTER 611710 115291 115291 GENERAL REVENUES 900099 78855 78855 126984 126984 2761130 32307027 22186608 0 2784571 X 5489683 5489683 492829 384407 108422 8387777 6542466 1845311 41014 31991 9023 1299004 1013223 285781 1049480 818594 230886 98091 98091 77828 77828 5838 5838 3026054 2360322 665732 288393 224947 63446 830967 618842 174546 37579 201819 157419 44400 2408777 1878846 529931 89272 69632 19640 8857 6908 1949 2365288 1844925 520363 390924 304921 86003 FOOD SERVICE 1689054 1317462 371592 BAD DEBTS 745123 581196 163927 PROGRAM MATERIALS 192756 150350 42406 DUES & MEMBERSHIPS 143328 111796 31532 760502 593192 167310 30082658 24501122 5543957 37579 2881493 1286908 315065 166771 930820 1266819 154506 164325 509935 438816 71962022 45838356 27158830 26123666 3908781 2908781 879980 848382 2407990 2768597 39147400 35973065 3420067 2084420 3999509 4414148 13852234 10247265 3500000 2424414 3568154 3404006 28339964 22574253 X 1539630 3715372 9267806 9683440 10807436 13398812 39147400 35973065 X 2224369 367007 X 0 0 1 1 X 3797292 3637039 3003302 5791072 7335848 23564553 3797292 3637039 3003302 5791072 7335848 23564553 23564553 286140 198448 363558 188898 39593 1076637 576756 350878 391164 428615 2766230 4513643 29154833 157669690 0.80830 X 360954 X X 0 6315261 6315261 6660167 230290 183099 747669 10626 6315261 8090764 219893 233570 1822871 61189 6660167 7764036 201710 500929 349489 26422 8090764 7237416 224176 785055 462909 19702 7764036 0 0 612310 612310 48386527 29253575 19132952 22359693 16584781 5774912 603492 603492 26123666 BENEFICIAL INTEREST IN PERPETUAL TRUSTS 2384538 OTHER ASSETS 23105 COLLECTIONS ACQUIRED SINCE JUNE 1, 1996 360954 2768597 CAPITAL LEASE OBLIGATIONS 3041824 REFUNDABLE ADVANCES FROM GOVERNMENT AGENCIES 362182 3404006 PART III, LINE 4: COLLECTION ITEMS ACQUIRED AFTER JUNE 1, 1996 ARE CAPITALIZED AT COST, IF PURCHASED, OR FAIR VALUE. SUCH ITEMS INCLUDE ARTWORK, GLASS, CRYSTAL AND OTHER ITEMS. COLLECTION ITEMS ACQUIRED PRIOR TO JUNE 1, 1996 WERE NOT CAPITALIZED. THESE ITEMS INCLUDE A COLLECTION OF MEMORABILIA FROM BASEBALL HALL OF FAMER, CHRISTY MATHEWSON, AN ALUMNUS OF KEYSTONE ACADEMY, THE FORERUNNER TO KEYSTONE COLLEGE. OUR COLLECTION HAS BEEN DESCRIBED AS "THE LARGEST AND BEST" OF ITS KIND BY SPORTS MEMORIABILIA EXPERTS. IT IS AN IMPORTANT PIECE OF OUR INSTITUTION'S HISTORY AND IS THE CENTERPIECE OF THE ANNUAL COMMUNITY CELEBRATION THAT WE HOST FOR OUR NEIGHBORING COMMUNITY, FACTORYVILLE BOROUGH, WHICH WAS MR. MATHEWSON'S BIRTHPLACE. WE OWN A COLLECTION OF ANTIQUE, ORNAMENTAL GLASS SERVING PIECES. THESE ITEMS PROVIDE TANGIBLE EXAMPLES OF A FINE ART PRACTICE THAT IS BECOMING SCARCELY PRACTICED. THIS COLLECTION ADDS CONSIDERABLE VALUE TO OUR STUDENTS' EDUCATION EXPERIENCE, PARTICULARLY THOSE WHO STUDY AND PRACTICE THE ART OF GLASS-BLOWING IN OUR ON-CAMPUS GLASS STUDIO. WE ALSO MAINTAIN A COLLECTION OF VARIOUS WORKS OF VISUAL ART, INCLUDING PAINTINGS, DRAWINGS, AND SCULPTURES, THAT ENHANCE OUR STUDENTS' EDUCATIONAL EXPERIENCE AND ADD VALUE TO OUR CAMPUS AESTHETIC. PART V, LINE 4: EARNINGS ON ENDOWMENT FUNDS ARE USED TO SUPPORT SCHOLARSHIPS FOR STUDENTS, FACULTY SALARIES, AND AWARDS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 WE SOLICIT STUDENTS THROUGHOUT THE YEAR AND MAKE THEM AWARE OF THE POLICY THROUGH OUR WRITTEN ADMISSIONS MATERIALS, OUR CATALOGUE, AND OUR WEBSITE. SCHEDULE E, PART I, LINE 6 KEYSTONE COLLEGE PARTICIPATES IN THE TITLE IV FEDERAL STUDENT ASSISTANCE PROGRAMS. THE ORGANIZATION ALSO PARTICIPATES IN THE COMMONWEALTH OF PENNSYLVANIA STATE GRANT PROGRAM AND INSTIUTIONAL ASSISTANCE GRANT PROGRAM. 1 SCHOLARSHIPS 668 5489683 PART I, LINE 2: ALL STUDENTS APPLYING FOR FINANCIAL ASSISTANCE ARE REQUIRED TO SUBMIT THE FREE APPLICATION FOR FEDERAL STUDENT AID ("FAFSA"). THE STUDENT FINANCIAL AID OFFICE REVIEWS THE RESULTS OF THE FAFSA, WHICH DICTATES WHAT AND HOW MUCH FEDERAL FUNDING THE INDIVIDUAL STUDENT IS ELIGIBLE FOR. IF THE STUDENT IS DETERMINED TO BE IN COMPLIANCE WITH ALL FEDERAL REGULATIONS, AS DETERMINED BY THE DEPARTMENT OF EDUCATION, THE STUDENT FINANCIAL AID OFFICE AWARDS THE STUDENT THE APPROPRIATE FUNDING. STUDENT FILES REGARDING ELIGIBILITY ARE MAINTAINED BY THE STUDENT FINANCIAL AID OFFICE. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 TRACY BRUNDAGE PRESIDENT 227998 0 0 0 0 0 0 0 27666 0 255664 0 0 0 F STUART RENDA VP OF FINANCE AND ADMINISTRATION 146242 0 0 0 0 0 0 0 7242 0 153484 0 0 0 PART I, LINE 1A THE ORGANIZATION PROVIDES HOUSING TO THE PRESIDENT OF THE COLLEGE. THE AMOUNT OF BENEFIT RECEIVED IS INCLUDED IN THE PRESIDENT'S NON-TAXABLE BENEFITS. THE PRESIDENT ALSO RECEIVES SOCIAL CLUB DUES. THIS BENEFIT IS PROVIDED IN ORDER FOR THE PRESIDENT TO ATTEND MEETINGS WITH DONORS AND EVENTS FOR PURPOSES OF MARKETING THE COLLEGE. FORM 990, PART VI, SECTION B, LINE 11B THE FINAL FORM 990 IS REVIEWED BY MEMBERS OF THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES AND F. STUART RENDA, VICE PRESIDENT OF FINANCE AND ADMINISTRATION, PRIOR TO FILING. THE FULL BOARD IS PROVIDED WITH ACCESS TO THE FORM 990 VIA THE BOARD PORTAL PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE COLLEGE REQUIRES ALL COVERED PARTIES SUCH AS TRUSTEES, KEY EMPLOYEES AND OFFICERS TO COMPLETE CONFLICT QUESTIONNAIRES ON AN ANNUAL BASIS. THE VP OF FINANCE AND ADMINISTRATION COLLECTS AND REVIEWS THESE QUESTIONNAIRES AND REPORTS ANY CONFLICTS TO THE PRESIDENT AND CHAIRMAN OF THE BOARD. BOARD MEMBERS ABSTAIN FROM VOTING WHEN CONFLICTS ARISE. IN ADDITION, THE VICE PRESIDENT OF FINANCE & ADMINISTRATION REVIEWS THE APPROVED VENDOR LIST ON AN ANNUAL BASIS NOTING ANY POTENTIAL CONFLICTS WHICH MAY HAVE BEEN IMPROPERLY DISCLOSED. THE CONFLICT OF INTEREST POLICY ADDRESSES FAMILY AND BUSINESS RELATIONSHIPS AS A SOURCE OF POTENTIAL CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE CHIEF EXECUTIVE OFFICER AND THE PRESIDENT WAS DETERMINED BY THE CHAIRMAN OF THE BOARD OF TRUSTEES, AN INDEPENDENT TRUSTEE. THE CHAIRMAN CONSULTED WITH OTHER INDEPENDENT MEMBERS OF THE BOARD OF TRUSTEES, AT HIS DISCRETION, AND REVIEWED EXECUTIVE COMPENSATION DATA PROVIDED BY THE CHIEF FINANCIAL OFFICER, THE VICE PRESIDENT OF FINANCE AND ADMINISTRATION/TREASURER. THIS INFORMATION INCLUDED, BUT WAS NOT LIMITED TO, INDUSTRY SURVEY DATA FROM THE CHRONICLE OF HIGHER EDUCATION, NACUBO, YAFFE AND COMPANY, AND AICUP. COMPENSATION FOR OTHER KEY EMPLOYEES WAS DETERMINED BY THE PRESIDENT, WHO CONSULTED WITH MEMBERS OF THE BOARD OF TRUSTEES, AT HIS DISCRETION. HE ALSO REVIEWED INFORMATION FROM INDUSTRY SOURCES, SUCH AS THOSE LISTED ABOVE AND WITH THE CHIEF HUMAN RESOURCES OFFICER. SALARY DECISIONS ARE DOCUMENTED IN THE BOARD COMMITTEE MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 2,360,322. MANAGEMENT AND GENERAL EXPENSES 665,732. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,026,054. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAP 3,648. CHANGE IN VALUE OF ANNUITY OBLIGATION 2,752. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST 360,607. PERPETUAL TRUSTS (3) PERPETUAL TRUSTS PA KEYSTONE COLLEGE T 2384538 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE R, PART IV: KEYSTONE COLLEGE RECEIVES 100% OF THE NET INCOME FROM ONE OF THE PERPETUAL TRUSTS FOR THE PURPOSE OF PROVIDING SCHOLARSHIPS TO STUDENTS OF KEYSTONE COLLEGE WHO ARE RESIDENTS OF LACKAWANNA COUNTY, PENNSYLVANIA.