2022-05-16T16:14:26-05:00 2021-06-30 111986323 MARCUM LLP 555 LONG WHARF DRIVE NEW HAVEN CT 06511 990 2020-07-01 060646936 METROPOLITAN BRIDGEPORT INC METR 2035764690 126 PARK AVE WAHLSTROM LIBRARY7TH BRIDGEPORT CT 06604 JOHANNES VAN DER GIESSEN PRESIDENT 2035764690 2022-05-16 1 JOHANNES VAN DER GIESSEN 999009999 MARY ANTONETTI P00431862 2037819600 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z X JOHANNES VAN DER GIESSEN 126 PARK AVE WAHLSTROM LIBRARY7TH BRIDGEPORT CT 06604 208866140 0 X HTTP://WWW.BRIDGEPORT.EDU X 1927 CT METROPOLITAN UNIVERSITY, INC. (FKA UNIVERSITY OF BRIDGEPORT) (THE UNIVERSITY) OFFERS CAREER ORIENTED UNDERGRADUATE, GRADUATE, AND PROFESSIONAL DEGREES AND PROGRAMS FOR PEOPLE SEEKING PERSONAL AND PROFESSIONAL GROWTH. THE UNIVERSITY PROMOTES ACADEMIC EXCELLENCE, PERSONAL RESPONSIBILITY, AND COMMITMENT TO SERVICE. DISTINCTIVE CURRICULA IN AN INTERNATIONAL, CULTURALLY DIVERSE, SUPPORTIVE LEARNING ENVIRONMENT PREPARE GRADUATES FOR LIFE AND LEADERSHIP IN AN INCREASINGLY INTERCONNECTED WORLD. THE UNIVERSITY IS INDEPENDENT AND NON-SECTARIAN. X 29 29 1659 29 154752 132752 5887781 10566641 127489067 103906091 695118 -60727504 16327182 18344201 150399148 72089429 44130797 39436121 0 0 52582531 36989436 0 0 1342498 46929658 36642051 143642986 113067608 6756162 -40978179 128448654 20054374 74650418 8344554 53798236 11709820 X METROPOLITAN UNIVERSITY, INC. (FKA UNIVERSITY OF BRIDGEPORT) (THE UNIVERSITY) OFFERS CAREER ORIENTED UNDERGRADUATE, GRADUATE, AND PROFESSIONAL DEGREES AND PROGRAMS FOR PEOPLE SEEKING PERSONAL AND PROFESSIONAL GROWTH. THE UNIVERSITY PROMOTES ACADEMIC EXCELLENCE, PERSONAL RESPONSIBILITY, AND COMMITMENT TO SERVICE. DISTINCTIVE CURRICULA IN AN INTERNATIONAL, CULTURALLY DIVERSE, SUPPORTIVE LEARNING ENVIRONMENT PREPARE GRADUATES FOR LIFE AND LEADERSHIP IN AN INCREASINGLY INTERCONNECTED WORLD. THE UNIVERSITY IS INDEPENDENT AND NON-SECTARIAN. 0 1 95337474 39436121 104710282 ON MAY 21, 2021, THE UNIVERSITY OF BRIDGEPORT WAS SOLD TO GOODWIN UNIVERSITY INC. (GOODWIN), A CONNECTICUT NONSTOCK CORPORATION, THE NEW UNIVERSITY OF BRIDGEPORT, INC. (NEW UB), A CONNECTICUT NONSTOCK CORPORATION AND SUBSIDIARY OF GOODWIN UNIVERSITY, AND SOUND EDUCATION, LLC, (PAIER COLLEGE) A CONNECTICUT LIMITED LIABILITY COMPANY FORMED BY PAIER COLLEGE.IN ORDER TO AVOID THE CONFUSION THAT THE NEW UNIVERSITY OF BRIDGEPORT AND THE UNIVERSITY OF BRIDGEPORT MIGHT CAUSE, AND TO EMPHASIZE THAT THE NEW UNIVERSITY OF BRIDGEPORT WOULD CONTINUE TO OFFER MOST OF THE PROGRAMS THAT THE UNIVERSITY OF BRIDGEPORT HAD OFFERED, THE UNIVERSITY OF BRIDGEPORT CHANGED ITS NAME TO METROPOLITAN BRIDGEPORT INC. ON JUNE 28, 2021.THE ONGOING MISSION OF METROPOLITAN BRIDGEPORT INC. CONSISTS OF THE CONDUCT OF WIND DOWN OPERATIONS THAT ARE THE RESPONSIBILITY OF OLD UB WHICH WERE NOT ASSUMED BY GOODWIN, INCLUSIVE OF PHASING OUT CERTAIN RETIREMENT PLANS, SETTLING CERTAIN LIABILITIES, PROCESSING AND PAYING UNEMPLOYMENT BENEFITS INCURRED BY EMPLOYEES OF OLD UB, ENSURING COMPLIANCE WITH CERTAIN TAX FILINGS, PHASING OUT OF REMAINING PERKINS LOANS, TRANSFERRING CONTRACTS THAT GOODWIN WILL MAINTAIN, AND TRANSFERRING NET ASSETS WITH DONOR RESTRICTIONS TO GOODWIN.PRIOR TO THE SALE, THE ORGANIZATION WAS AN INDEPENDENT AND NONSECTARIAN INTERNATIONAL ACADEMIC INSTITUTION. THERE WERE APPROXIMATELY 4,155 STUDENTS FROM 49 STATES, 1 U.S. TERRITORIES AND 51 COUNTRIES ENROLLED FOR THE YEAR ENDED JUNE 30, 2021. 95337474 1 1 0 0 0 0 1 0 0 1 0 0 0 1 0 1 1 0 1 1 1 0 1 0 0 0 0 0 1 1 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 1 36 0 1 1659 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 29 29 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CT X MALHAR SHARMA U OF BRIDGEPORT 2035764690 126 PARK AVE WALHSTROM LIBRARY BRIDGEPORT CT 066012449 DIANE ALLISON ESQ TRUSTEE 1.00 X 0 0 0 PAUL ANTINOZZI TRUSTEE 1.00 X 0 0 0 ROBERT L BERCHEM ESQ CHAIR 1.00 X X 0 0 0 SEAN M CARROLL TRUSTEE 1.00 X 0 0 0 DAVID D'ADDARIO TRUSTEE 1.00 X 0 0 0 JOAN B DUPONT TRUSTEE 1.00 X 0 0 0 MARK A FRIES VICE CHAIR 1.00 X X 0 0 0 THE HONORABLE JOSEPH P GANIM TRUSTEE 1.00 X 0 0 0 ABRAHAM I GORDON ESQ TRUSTEE 1.00 X 0 0 0 CAROL JOHNSON GREEN TRUSTEE 1.00 X 0 0 0 HERMAN GREEN TRUSTEE 1.00 X 0 0 0 THOMAS R HAYNES TRUSTEE 1.00 X 0 0 0 SARA TOWE HORSFALL TRUSTEE 1.00 X 0 0 0 BARBARA A JAMES TRUSTEE 1.00 X 0 0 0 MARKUS KARR TRUSTEE 1.00 X 0 0 0 KI HOON KIM TRUSTEE 1.00 X 0 0 0 MICHAEL KOLAKOWSKI TRUSTEE 1.00 X 0 0 0 MICHAEL LABELLA TRUSTEE 1.00 X 0 0 0 ARTHUR E LANDI TRUSTEE 1.00 X 0 0 0 KEVIN C LEAHY TRUSTEE 1.00 X 0 0 0 DAVID K NORTON TRUSTEE 1.00 X 0 0 0 TERRANCE J O'CONNOR SECRETARY 1.00 X X 0 0 0 SUSAN HECKMAN O'HARA TRUSTEE 1.00 X 0 0 0 THOMAS O'HARA TRUSTEE 1.00 X 0 0 0 LAMBERT C SHELL SR TRUSTEE 1.00 X 0 0 0 BRUCE T SILVERSTONE TRUSTEE 1.00 X 0 0 0 PHILLIP G SOAIVAN TRUSTEE 1.00 X 0 0 0 THOMAS G WALSH TRUSTEE 1.00 X 0 0 0 MARTIN F WOLF ESQ TRUSTEE 1.00 X 0 0 0 TAREK M SOBH EVP RESEARCH & ECON DEV (TO 8/31/20) 35.00 X 250284 0 19968 MANYUL IM INTERIM PROVOST 35.00 X 198809 0 24910 YUET LEE VP OF FINANCE AND ADMIN (TO 4/1/21) 35.00 X 288869 0 41700 ROBERT SCHMIDT COO ADMIN & FACILITIES 35.00 X 243438 0 23148 KHALED ELLEITHY ASSOC VP GRAD STUD & RES 35.00 X 219371 0 23266 LOUIS IZZI VP ENROLL MGMT & ATHLETI 35.00 X 213780 0 11275 CHRISTOPHER CASSIRER EXECUTIVE VICE PRESIDENT 35.00 X 213829 0 9976 DESI IMETOVSKI GENERAL COUNSEL 35.00 X 187671 0 11887 STEPHEN HEALEY FORMER INTERIM PRESIDENT 35.00 X 260908 0 3926 LAURA SKANDERA TROMBLEY FORMER PRESIDENT 35.00 X 254331 0 23434 2331290 0 193490 78 1 1 0 C&W FACILITY SERVICES INC 275 GROVE ST SUITE 3-200 AUBURNDALE MA 024662274 BUILDING & GROUNDS MAINTENANCE 3140502 SODEXO OPERATIONS PO BOX 360170 PITTSBURGH PA 152516000 CAMPUS FOOD SERVICES 2920269 BBA SOLUTIONS PARNERSHIP GROUP LLC 11300 CANTRALL RD STE 105 LITTLE ROCK AK 72212 STUDENT SERVICES - STUDENT TEXTBOOKS 2838226 ARISTE ADVISORS LLC 104 WEST 40TH STREET SUITE 500 NEW YORK NY 10018 FINANCIAL ADVISORY/ CONSULTING SERVICES 1779034 SECURITAS SECURITY 2400 COMMERCE AVE BLDG 1100 SUITE 5 DULUTH GA 30096 SECURITY SERVICES 1486418 37 9514491 1052150 1700 10566641 TUITION AND FEES 611310 95919860 95919860 RESIDENCE & MEALS 721000 7091288 7091288 OTHER PROGRAM FEES & REVENUES 611710 894943 894943 103906091 21081 21081 9698 9698 259560 0 259560 259560 259560 37517669 38510457 36409103 100367608 1108566 -61857151 -60748585 -60748585 FORGIVENESS OF DEBT 900099 17116000 17116000 MISCELLANEOUS 900099 958943 804191 154752 18074943 72089429 104710282 154752 -43342246 37751963 37751963 1684158 1684158 607614 264600 343014 28381330 24314009 3311421 755900 36581 31339 4268 974 5469931 3008617 2348581 112733 2493980 2114397 314491 65092 1060882 1057892 2990 205317 205317 11781 11781 7306547 5777800 1369007 159740 370542 183964 186578 4852092 699537 4089359 63196 1457721 911461 479020 67240 6402419 5986262 352133 64024 206568 58504 146144 1920 386321 240626 144316 1379 2840409 2840409 5752012 5752012 424847 424847 BAD DEBT EXPENSE 1610434 1610434 NON-CAPITALIZED EQUIPME 1419672 335916 1079000 4756 STUDENT TEACHING 392175 392175 MEDICAL SUPPLIES 64131 64131 1878181 890313 945314 42554 113067608 95337474 16387636 1342498 899 1199 12474224 12664275 662150 637629 3758305 0 3468433 2814529 75526 0 394189 225000 0 0 96977862 0 10629066 0 8000 3711742 128448654 20054374 10292683 4628863 4259145 3715691 1910502 0 53369553 0 4818535 0 74650418 8344554 X 47713795 5181337 6084441 6528483 53798236 11709820 128448654 20054374 -40978179 -1028741 -81496 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 0.74 1 1 0 1 0 10.00 0 0 19387016 677873 101963 10535834 11790 9619228 25284584 1143468 876859 7822851 95044 19387016 33949600 70000 2127240 10740055 122201 25284584 37272610 2157778 5314150 166638 33949600 33630153 4435970 793513 37272610 0.16510 0.10070 0.73420 0 0 0 LEASED EMPLOYEES 3711742 3711742 X 31612786 -1028741 -39436121 -40464862 72077648 11781 11781 72089429 73619706 0 73619706 11781 39436121 39447902 113067608 PART II, LINE 9: THE UNIVERSITY PRESERVES A HISTORIC STRUCTURE. NOTHING IS REPORTED ON THE BALANCE SHEET OR IN THE STATEMENT OF FINANCIAL POSITION. PART V, LINE 4: ENDOWMENT FUND REVENUE IS USED FOR GENERAL OPERATING SUPPORT UNLESS IT IS RESTRICTED BY THE DONOR FOR A SPECIFIC PURPOSE. PART X, LINE 2: BELOW IS AN EXCERPT FROM FOOTNOTE 1 OF THE AUDITED FINANCIAL STATEMENTS FOR METROPOLITAN UNIVERSITY, INC. (FKA UNIVERSITY OF BRIDGEPORT) (THE UNIVERSITY). THE UNIVERSITY IS GENERALLY EXEMPT FROM INCOME TAXES UNDER INTERNAL REVENUE CODE, SECTION 501(A), AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3). THE UNIVERSITY ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES USING A TWO-STEP APPROACH TO RECOGNIZING AND MEASURING UNCERTAIN TAX POSITIONS. THE FIRST STEP IS TO EVALUATE THE TAX POSITION FOR RECOGNITION BY DETERMINING IF THE WEIGHT OF AVAILABLE EVIDENCE INDICATES THAT IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED ON AUDIT, INCLUDING RESOLUTION OF RELATED APPEALS OR LITIGATION PROCESSES, IF ANY. THE SECOND STEP IS TO MEASURE THE TAX BENEFIT AS THE LARGEST AMOUNT THAT IS MORE THAN 50% LIKELY OF BEING REALIZED UPON SETTLEMENT. THE UNIVERSITY CLASSIFIES THE LIABILITY FOR UNRECOGNIZED TAX BENEFITS AS CURRENT TO THE EXTENT THAT THE UNIVERSITY ANTICIPATES PAYMENT (OR RECEIPT) OF CASH WITHIN ONE YEAR. INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS ARE RECOGNIZED AND RECORDED AS NECESSARY IN THE PROVISION FOR INCOME TAXES. THE UNIVERSITY ASSESSED UNCERTAIN TAX POSITIONS AND HAS DETERMINED THAT THERE WERE NO SUCH POSITIONS THAT HAVE A MATERIAL EFFECT ON THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: GRANTS -39,436,121. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS 39,436,121. 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 FOLLOWING POLICY APPEARS ON THE WEBSITE FOR METROPOLITAN UNIVERSITY, INC. (FKA UNIVERSITY OF BRIDGEPORT), ADMISSION APPLICATIONS AND CATALOG. THE UNIVERSITY OF BRIDGEPORT DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, NATIONAL ORIGIN, RELIGION, AGE, SEX, GENDER, SEXUAL ORIENTATION, DISABILITY, MARITAL STATUS, GENETIC INFORMATION, VETERAN STATUS OR GENDER IDENTITY AND GENDER EXPRESSION. SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVED THE FOLLOWING GOVERNMENT GRANTS FOR SCHOLARSHIPS AND FINANCIAL AID DURING THE YEAR ENDED JUNE 30, 2021: FEDERAL PERKINS LOAN - FEDERAL FEDERAL WORK STUDY - FEDERAL FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT - FEDERAL PELL GRANT - FEDERAL TEACH GRANT - FEDERAL STUDENT SUPPORT SERVICES - FEDERAL TITLE III ADVISING GRANT - FEDERAL ROBERTA B. WILLIS SCHOLARSHIP PROGRAM - STATE HIGHER EDUCATION ENTERPRENEURESHIP GRANT - STATE CONNECTICUT GEAR UP III COVID-19 - HIGHER EDUCATION EMERGENCY RELIEF FUND-STUDENT AID - FEDERAL COVID-19 - HIGHER EDUCATION EMERGENCY RELIEF FUND-INSTITUTIONAL - FEDERAL 0 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 GRANTMAKING 285610 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 GRANTMAKING 455313 MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 0 0 GRANTMAKING 114360 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 GRANTMAKING 45360 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 GRANTMAKING 118335 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 0 0 GRANTMAKING 427350 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 GRANTMAKING 237830 0 0 0 0 0 0 1684158 0 1684158 SCHOLARSHIPS EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 25 285610 BOOK SCHOLARSHIPS EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIU 16 455313 BOOK SCHOLARSHIPS MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 4 114360 BOOK SCHOLARSHIPS NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 2 45360 BOOK SCHOLARSHIPS SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 3 118335 BOOK SCHOLARSHIPS SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 32 427350 BOOK SCHOLARSHIPS SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 11 237830 BOOK 0 0 0 0 0 1 PART I, LINE 3: THE EXPENDITURES WERE REPORTED USING THE ACCRUAL METHOD OF ACCOUNTING. PART III ACCOUNTING METHOD: 1 SCHOLARSHIPS FOR STUDENTS ATTENDING SCHOOL BASED ON FINANCIAL NEED 1819 36582332 BOOK STUDENTS AWARDED SCHOLARSHIP BASED ON ATHLETIC ABILITY 83 1169631 BOOK PART I, LINE 2: EACH GRANT IS ASSIGNED A SEPARATE DEPARTMENT ACCOUNT NUMBER. REPORTS ARE THEN PRINTED WHICH SHOW ALL FUNDS RECEIVED AND DISBURSED. THESE GRANT REPORTS ARE PRINTED ON A MONTHLY BASIS BY THE PERSON RESPONSIBLE FOR THE GRANT. THE ACCOUNTING DEPARTMENT ALSO PRINTS GRANT REPORTS ON A MONTHLY BASIS AS A CHECK THAT DISBURSEMENTS ARE NOT GREATER THAN FUNDS RECEIVED AND THAT FUNDS ARE BEING DISBURSED FOR GRANTS APPROVED. X 1 1 X X X X X X 1 0 0 0 0 0 0 1 0 YUET LEE VP OF FINANCE AND ADMIN (TO 4/1/21) 272715 0 0 0 16154 0 23700 0 18000 0 330569 0 0 0 LAURA SKANDERA TROMBLEY FORMER PRESIDENT 185254 0 0 0 69077 0 14250 0 9184 0 277765 0 0 0 TAREK M SOBH EVP RESEARCH & ECON DEV (TO 8/31/20) 189180 0 28500 0 32604 0 5130 0 14838 0 270252 0 0 0 ROBERT SCHMIDT COO ADMIN & FACILITIES 223438 0 20000 0 0 0 2813 0 20335 0 266586 0 0 0 STEPHEN HEALEY FORMER INTERIM PRESIDENT 260908 0 0 0 0 0 3926 0 0 0 264834 0 0 0 KHALED ELLEITHY ASSOC VP GRAD STUD & RES 218310 0 0 0 1061 0 3454 0 19812 0 242637 0 0 0 LOUIS IZZI VP ENROLL MGMT & ATHLETI 201504 0 0 0 12276 0 3420 0 7855 0 225055 0 0 0 CHRISTOPHER CASSIRER EXECUTIVE VICE PRESIDENT 189109 0 12971 0 11749 0 2700 0 7276 0 223805 0 0 0 MANYUL IM INTERIM PROVOST 197257 0 0 0 1552 0 2727 0 22183 0 223719 0 0 0 DESI IMETOVSKI GENERAL COUNSEL 187164 0 0 0 507 0 2925 0 8962 0 199558 0 0 0 PART I, LINE 1B THE PRESIDENT AND VP OF FINANCE ARE REQUIRED TO LIVE ON CAMPUS AND ARE PROVIDED WITH UNIVERSITY OWNED HOUSING WITHOUT HAVING TO PAY RENT AND IS CONSIDERED AS PART OF THEIR COMPENSATION. HOUSING IS FOR THE CONVENIENCE OF THE UNIVERSITY. THE HOUSING BENEFIT FOR LAURA SKANDERA TROMBLEY WAS $7,350 FOR CALENDAR YEAR 2020. THE HOUSING BENEFIT FOR YUET LEE WAS $18,000 FOR CALENDAR YEAR 2020. PART I, LINE 4A LAURA SKANDERA TROMBLEY RECEIVED A SEVERANCE PAYMENT OF $32,000. PART I, LINE 7 THE BONUSES REPORTED ON PART II, COLUMN II WERE ONE-TIME PAYMENTS DETERMINED BY THE BOARD. PAUL ANTINOZZI BOARD TRUSTEE 5000 SEE PART V 0 MICHAEL KOLAKOWSKI BOARD TRUSTEE 58325 SEE PART V 0 SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (A) NAME OF PERSON: PAUL ANTINOZZI(D) DESCRIPTION OF TRANSACTION: METROPOLITAN UNIVERSITY, INC. (FKA UNIVERSITY OF BRIDGEPORT) ENGAGED ANTINOZZI ASSOCIATES TO PROVIDE ARCHITECTURAL SERVICES. PAUL ANTINOZZI IS THE PRESIDENT OF ANTINOZZI ASSOCIATES.(A) NAME OF PERSON: MICHAEL KOLAKOWSKI(D) DESCRIPTION OF TRANSACTION: METROPOLITAN UNIVERSITY, INC. (FKA UNIVERSITY OF BRIDGEPORT) ENGAGED KBE BUILDING CORPORATION TO PROVIDE CONSTRUCTION SERVICES. MICHAEL KOLAKOWSKI IS THE PRESIDENT AND CEO OF KBE BUILDING CORPORATION. UNIVERSITY ASSETS (INCLUDING CASH, A/R, INVENTORY, LAND & IMPR, BLDG & IMPR, FURN & FIXT, EQUIP, VEHICLES) 2021-05-21 29510457 FMV 061627882 GOODWIN UNIVERSITY 1 RIVERSIDE DRIVE EAST HARTFORD CT 06118 501(C)(3) UNIVERSITY ASSETS (LAND, BUILDINGS, EQUIPMENT, CONTRACTS AND LEASES) 2021-05-21 3000000 FMV 060797860 PAIER COLLEGE 84 IRANISTAN AVENUE BRIDGEPORT CT 06604 FIXED ASSETS (LAND, BUILDING, AND EQUIPMENT) 2020-07-27 6000000 FMV CITY OF BRIDGEPORT 45 LYON TERRACE BRIDGEPORT CT 06604 1 1 0 0 PART II, LINE 2E: PERSON(S) INVOLVED: PERSONS INVOLVED: BARBARA A. JAMES, ARTHUR E. LANDI, LAMBERT C. SCHELL, MANYUL IM PART II, LINE 2E: EXPLANATION OF INVOLVEMENT: THE FOLLOWING INDIVIDUALS WILL BECOME TRUSTEES OF THE TRANSFEREE ORGANIZATION: BARBARA A. JAMES, ARTHUR E. LANDI, AND LAMBERT C. SCHELLTHE FOLLOWING INDIVIDUAL WILL BECOME PROVOST OF THE TRANSFEREE ORGANIZATION: MANYUL IM PART II, LINE 1: DURING THE YEAR ENDED JUNE 30, 2021, THE MAJORITY OF THE FIXED ASSETS WERE SOLD IN MULTIPLE TRANSACTIONS:CITY OF BRIDGEPORT ON JULY 27, 2020, THE UNIVERSITY SOLD LAND BUILDING AND EQUIPMENT TO THE CITY OF BRIDGEPORT.GOODWIN UNIVERSITY & PAIER COLLEGE - GOODWIN UNIVERSITY AND PAIER COLLEGE ARE TWO UNRELATED ORGANIZATIONS. ON JUNE 22, 2021, THE BUYERS ASSUMED ALL FIXED ASSETS OF THE UNVIERSITY INCLUDING CASH, ACCOUNTS RECEIVABLE, INVENTORY, LAND, LAND IMPROVEMENTS, BUILDING & BUILDING IMPROVEMENTS, FURNITURE, FIXTURES AND VEHICLES. FORM 990, PART III, LINE 3 ON MAY 21, 2021, THE UNIVERSITY OF BRIDGEPORT WAS SOLD TO GOODWIN UNIVERSITY INC. (GOODWIN), A CONNECTICUT NONSTOCK CORPORATION, THE NEW UNIVERSITY OF BRIDGEPORT, INC. (NEW UB), A CONNECTICUT NONSTOCK CORPORATION AND SUBSIDIARY OF GOODWIN UNIVERSITY, AND SOUND EDUCATION, LLC, (PAIER COLLEGE) A CONNECTICUT LIMITED LIABILITY COMPANY FORMED BY PAIER COLLEGE. IN ORDER TO AVOID THE CONFUSION THAT THE NEW UNIVERSITY OF BRIDGEPORT AND THE UNIVERSITY OF BRIDGEPORT MIGHT CAUSE, AND TO EMPHASIZE THAT THE NEW UNIVERSITY OF BRIDGEPORT WOULD CONTINUE TO OFFER MOST OF THE PROGRAMS THAT THE UNIVERSITY OF BRIDGEPORT HAD OFFERED, THE UNIVERSITY OF BRIDGEPORT CHANGED ITS NAME TO METROPOLITAN BRIDGEPORT INC. ON JUNE 28, 2021. THE ONGOING MISSION OF METROPOLITAN BRIDGEPORT INC. CONSISTS OF THE CONDUCT OF WIND DOWN OPERATIONS THAT ARE THE RESPONSIBILITY OF OLD UB WHICH WERE NOT ASSUMED BY GOODWIN, INCLUSIVE OF PHASING OUT CERTAIN RETIREMENT PLANS, SETTLING CERTAIN LIABILITIES, PROCESSING AND PAYING UNEMPLOYMENT BENEFITS INCURRED BY EMPLOYEES OF OLD UB, ENSURING COMPLIANCE WITH CERTAIN TAX FILINGS, PHASING OUT OF REMAINING PERKINS LOANS, TRANSFERRING CONTRACTS THAT GOODWIN WILL MAINTAIN, AND TRANSFERRING NET ASSETS WITH DONOR RESTRICTIONS TO GOODWIN. FORM 990, PART VI, SECTION A, LINE 2 CAROL JOHNSON GREEN AND HERMAN GREEN ARE MARRIED. SUSAN HECKMAN O'HARA AND THOMAS M. O'HARA ARE MARRIED. FORM 990, PART VI, SECTION A, LINE 4 ON MAY 21, 2021, THE UNIVERSITY OF BRIDGEPORT WAS SOLD TO GOODWIN UNIVERSITY INC. (GOODWIN), A CONNECTICUT NONSTOCK CORPORATION, THE NEW UNIVERSITY OF BRIDGEPORT, INC. (NEW UB), A CONNECTICUT NONSTOCK CORPORATION AND SUBSIDIARY OF GOODWIN UNIVERSITY, AND SOUND EDUCATION, LLC, (PAIER COLLEGE) A CONNECTICUT LIMITED LIABILITY COMPANY FORMED BY PAIER COLLEGE. IN ORDER TO AVOID THE CONFUSION THAT THE NEW UNIVERSITY OF BRIDGEPORT AND THE UNIVERSITY OF BRIDGEPORT MIGHT CAUSE, AND TO EMPHASIZE THAT THE NEW UNIVERSITY OF BRIDGEPORT WOULD CONTINUE TO OFFER MOST OF THE PROGRAMS THAT THE UNIVERSITY OF BRIDGEPORT HAD OFFERED, THE UNIVERSITY OF BRIDGEPORT CHANGED ITS NAME TO METROPOLITAN BRIDGEPORT INC. ON JUNE 28, 2021. THE ORGANIZATION FILED WITH THE STATE OF CONNECTICUT A CERTIFICATE OF AMENDMENT TO THE ARTICLES OF INCORPORATION CHANGING THE NAME FROM UNIVERSITY OF BRIDGEPORT TO METROPOLITAN BRIDGEPORT, INC. FORM 990, PART VI, SECTION B, LINE 11B A COMPLETED COPY OF FORM 990 IS MADE AVAILABLE TO ALL MEMBERS OF ITS GOVERNING BODY BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE TRUSTEES COMPLETE THE DISCLOSURE WHICH IS REVIEWED BY TRUSTEES OR A COMMITTEE THEREOF, AND WHO DECIDE WHETHER A CONFLICT EXISTS AND IF SO WHAT ACTION SHOULD BE TAKEN. FORM 990, PART VI, SECTION B, LINE 15 CFO COLLECTS COMPARABLE COMPENSATION DATA RELATING TO NON-PROFIT UNIVERSITIES IN SIMILAR NON-PROFIT UNIVERSITIES. THE BOARD OF TRUSTEES COMPENSATION COMMITTEE USES THE DATA TO DETERMINE THE COMPENSATION FOR THE CEO AND PRINCIPAL UNIVERSITY OFFICERS. MINUTES OF THE COMMITTEE ACTIVITIES ARE MAINTAINED. THE CEO AND PRINCIPAL UNIVERSITY OFFICERS DETERMINE THE COMPENSATION FOR THE OTHER OFFICERS AND KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION MAKES AVAILABLE ITS FORMS 990 AND 990-T UPON REQUEST. THE FORM 990 IS ALSO AVAILABLE ON GUIDESTAR. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES AVAILABLE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS FOR PUBLIC INSPECTION UPON REQUEST, AT ITS ADMINISTRATIVE OFFICES IN BRIDGEPORT, CONNECTICUT. FORM 990, PART XI, LINE 2C: USED SAME PROCESS AS PRIOR YEAR.