2022-05-14T02:11:20-05:00 2021-06-30 221478099 COHNREZNICK LLP 350 CHURCH STREET 12TH FLOOR HARTFORD CT 06103 990 2020-07-01 060776644 SACRED HEART UNIVERSITY INCORPORATED SACR 2033717872 5151 PARK AVENUE FAIRFIELD CT 06825 PHILIP J MCCABE SR. VP FOR FINANCE 2033717872 2022-05-13 1 PHILIP MCCABE 999009999 LORI ROTHE YOKOBOSKY CPA P01273422 9592007000 2022-05-12 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z JOHN PETILLO 5151 PARK AVENUE FAIRFIELD CT 06825 491432862 0 X WWW.SACREDHEART.EDU X 1963 CT THE UNIVERSITY IS A CO-EDUCATIONAL INSTITUTION OF HIGHER LEARNING OFFERING UNDERGRADUATE, GRADUATE AND DOCTORAL DEGREES, AS WELL AS CONTINUING EDUCATION IN A VARIETY OF DISCIPLINES, WITH A COMMITMENT TO LEADERSHIP IN CATHOLIC HIGHER EDUCATION. 23 22 4710 150 3898454 0 17624249 24155650 353026896 385470721 7791669 11788074 -84291 -130580 378358523 421283865 93411989 106282539 0 0 123404401 125476820 263672 182433 2860894 110256854 123427433 327336916 355369225 51021607 65914640 899337453 1111844397 392507360 499608342 506830093 612236055 X AT SACRED HEART UNIVERSITY, WE NOT ONLY PREPARE STUDENTS FOR THE FUTURE, BUT ALSO GIVE THEM A DEEPER APPRECIATION OF WHO THEY ARE AND ALL THEY CAN BE. THROUGH OUR DISTINCTIVE MISSION AND COMMITMENT TO LEADERSHIP IN CATHOLIC HIGHER EDUCATION, WE HELP STUDENTS HELP OTHERS AND, TOGETHER, WE MAKE A DIFFERENCE IN THE WORLD. THE SHU MISSION: THE PURSUIT OF TRUTH AND KNOWLEDGE AS INTRINSICALLY VALUABLE; COMMITMENT TO EXCELLENCE IN ALL THAT WE DO; RESPONSIBILITY FOR THE COMMON GOOD OF SOCIETY; RECOGNITION OF THE DIGNITY AND WORTH OF EVERY HUMAN BEING; PRESERVATION, TRANSMISSION AND DEVELOPMENT OF THE LIBERAL ARTS AND CATHOLIC INTELLECTUAL TRADITIONS. OUR VISION IS TO SHAPE GRADUATES KNOWLEDGEABLE OF SELF, ROOTED IN FAITH, EDUCATED IN MIND, COMPASSIONATE IN HEART, RESPONSIVE TO SOCIAL AND CIVIC OBLIGATIONS AND ABLE TO RESPOND TO AN EVER-CHANGING WORLD. 0 0 107272339 330358659 SACRED HEART CONTINUES TO OFFER A WIDE RANGE OF UNDERGRADUATE AND GRADUATE PROGRAMS. REGARDLESS OF WHAT UNDERGRADUATE PROGRAM OR GRADUATE PROGRAMS ARE CHOSEN, OUR FOCUS ON ACADEMIC OPPORTUNITIES - ROOTED IN THE CATHOLIC INTELLECTUAL TRADITIONS AND THE PRINCIPLES OF ENGAGED LEARNING - CREATES AN ABSORBING, CUSTOMIZED EDUCATIONAL EXPERIENCE FOR EACH STUDENT. 106282539 106282539 SACRED HEART UNIVERSITY'S STUDENT FINANCIAL ASSISTANCE OFFICE IS COMMITTED TO HELPING STUDENTS AND THEIR FAMILIES FIND THE MOST AFFORDABLE OPTIONS AVAILABLE FOR ATTENDING COLLEGE. FOR FULL-TIME UNDERGRADUATE STUDENTS, THERE ARE BASICALLY TWO TYPES OF FINANCIAL ASSISTANCE: FIRST, TRADITIONAL MERIT OR NEED-BASED AID; AND SECOND, A RANGE OF OTHER OPTIONS OPEN TO STUDENTS AND THEIR FAMILIES WHETHER THEY QUALIFY FOR TRADITIONAL AID OR NOT. SEVERAL FINANCIAL ASSISTANCE OPTIONS ARE ALSO AVAILABLE TO QUALIFIED PART-TIME UNDERGRADUATE STUDENTS AND GRADUATE STUDENTS. 50817103 1825994 SACRED HEART UNIVERSITY IS COMMITTED TO SERVING THE NEEDS OF ITS DIVERSE STUDENT POPULATION BY OFFERING AN ARRAY OF SERVICES DESIGNED TO ENSURE STUDENT SUCCESS. THESE SERVICES, PROVIDED THROUGH ACADEMIC ADVISING, STUDENT LIFE, CAREER SERVICES, JANDRESEVITS LEARNING CENTER, THE OFFICE OF SPECIAL SERVICES, AND THE WELLNESS CENTER, AIM TO SERVE STUDENTS IN A MANNER THAT IS CONSISTENT WITH THE MISSION. THE UNIVERSITY ALSO PROMOTES ACTIVE ENGAGED LEARNING OUTSIDE OF THE CLASSROOM. OUR ATHLETICS PROGRAMS ARE ABOUT MORE THAN JUST COMPETITION AND WINNING, THEY ARE BUILT ON LONGSTANDING TRADITION OF HELPING OUR STUDENT ATHLETES REALIZE THEIR POTENTIAL, STRENGTHEN THEIR CHARACTER, AND EMPOWER THEIR MIND WHILE DEVELOPING SELF-CONFIDENCE AND VALUABLE LEADERSHIP SKILLS. 50146187 49391622 OTHER GENERAL AND AUXILIARY SERVICES 50146187 49391622 314518168 1 1 0 1 0 0 0 1 0 1 1 0 0 1 1 1 0 1 1 1 1 0 1 1 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 1 0 0 1 0 0 0 0 1 13277 0 1 4710 1 1 1 1 EI LU 0 0 0 1 1 0 0 0 0 1 0 X 23 22 0 0 0 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X PHILIP J MCCABE 2033717872 5151 PARK AVENUE FAIRFIELD CT 06825 FRANK MARTIRE CHAIRMAN 1.00 X X 0 0 0 DANIEL J MCCARTHY OUTGOING TRUSTEE 1.00 X 0 0 0 RICHARD M SCHAEFFER OUTGOING TRUSTEE 1.00 X 0 0 0 NORBERT BECKER OUTGOING TRUSTEE 1.00 X 0 0 0 JOHN J PETILLO PHD PRESIDENT 35.00 X X 1904027 0 308748 CHRISTOPHER K MCLEOD TREASURER 1.00 X X 0 0 0 KENNETH SIEGEL JD TRUSTEE 1.00 X 0 0 0 WILLIAM MITCHELL TRUSTEE 1.00 X 0 0 0 VINCENT MAFFEO JD TRUSTEE 1.00 X 0 0 0 SUZANNE GRECO TRUSTEE 1.00 X 0 0 0 SUSAN DAVIS RN EDD FACHE TRUSTEE 1.00 X 0 0 0 DANIEL THOMAS TRUSTEE 1.00 X 0 0 0 DOUGLAS KENNEDY TRUSTEE 1.00 X 0 0 0 GARY J LEVIN TRUSTEE 1.00 X 0 0 0 SERPICO LYNN TRUSTEE 1.00 X 0 0 0 JAMES MORLEY JR TRUSTEE 1.00 X 0 0 0 PATRICK CAROLAN MD TRUSTEE 1.00 X 0 0 0 JOHN VAZQUEZ TRUSTEE 1.00 X 0 0 0 PAMELA MILLER TRUSTEE 1.00 X 0 0 0 PABLO STALMAN TRUSTEE 1.00 X 0 0 0 KATIE BURKE TRUSTEE 1.00 X 0 0 0 MSGR ROBERT MEYER JD JCD TRUSTEE 1.00 X 0 0 0 KEITH HOVAN TRUSTEE 1.00 X 0 0 0 MARY-ANN BUNTING TRUSTEE 1.00 X 0 0 0 PATRICK MAGGITTI PHD TRUSTEE 1.00 X 0 0 0 CHARLES FIRLOTTE VICE CHAIRMAN 1.00 X X 0 0 0 MICHAEL LAROBINA ESQ GENERAL COUNSEL 35.00 X 278450 0 34510 RUPENDRA PALIWAL PROVOST & VICE PRESIDENT FOR ACADEMIC AFFAIRS 35.00 X 367901 0 30347 PHILIP MCCABE SR. VP FOR FINANCE 35.00 X 268198 0 41052 MICHAEL J KINNEY SVP/ADVISIOR UNTIL 7/1/20 35.00 X 578631 0 20485 JAMES BARQUINERO SR. VICE PRESIDENT 35.00 X 373443 0 66585 DAVID COPPOLA SR. VP ADMIN & PLANNING 35.00 X 302600 0 59402 ROBERT M HARDY VICE PRESIDENT 35.00 X 274147 0 25328 MAURA IVERSEN DEAN 35.00 X 251775 0 36291 MARTHA CRAWFORD DEAN 35.00 X 381307 0 42592 ROBIN CAUTIN DEAN 35.00 X 246903 0 16236 ROBERT J VALENTINE EXECUTIVE DIRECTOR OF ATHL 35.00 X 259364 0 19973 WILLIAM REIDY VICE PRESIDENT 35.00 X 232545 0 54875 5719291 0 756424 241 0 1 0 CHARTWELL'S HIGHER EDUCATION CO BOA PO BOX 91337 CHICAGO IL 606931853 FOOD SERVICES 11394816 SOUTHEAST SERVICE CORPORATION 2400 YORKMONT ROAD CHARLOTTE NC 28217 JANITORIAL SERVICES 4829751 WILEY EDU LLC 851 TRAFALGAR COURT SUITE 420 ORLANDO FL 32751 ONLINE EDUCATION SERVICES 3267132 JOHNSON LAFFEN GALLOWAY ARCHITECTS LTD DBA JLG ARCHITECTS 124 N 3RD ST GRAND FORKS ND 58203 ARCHITECTURAL SERVICES 2209578 CDW-G INC 230 NORTH MILWAUKEE AVE VERNON HILLS IL 60061 TECHNOLOGY SERVICES 1797324 92 1374290 11633120 11148240 442851 24155650 TUITION AND FEES 611310 330358659 330358659 AUXILIARY ACTIVITIES 611310 49854648 48030860 1823788 OTHER INCOME 900099 3873862 1803204 2070658 PITT CENTER&ATHLETICS 611310 1383552 1383552 385470721 4630840 4008 4626832 240438 132498 107940 107940 107940 76706271 69549037 7157234 7157234 7157234 228942 1374290 467462 -238520 -238520 421283865 381576275 3898454 11653486 106157841 106157841 124698 124698 5655513 470909 5184604 91799590 80771965 9291612 1736013 5039648 4483467 475802 80379 16568678 15152169 1178819 237690 6413391 5447232 869221 96938 820609 54737 765872 295430 44380 251050 182433 182433 528822 528822 29469956 26298527 2987844 183585 1469070 308084 1157877 3109 6421773 4940731 1221134 259908 3075430 1278426 1773449 23555 12537822 11092041 1433318 12463 2206729 2145852 41727 19150 257391 191343 65880 168 12342055 10084702 2257353 22668637 19974587 2694050 2724043 498823 2225220 CONTRACT SERVICES 15159993 13270839 1889154 MINOR EQUIPMENT, FURNIT 4056415 3724460 331088 867 REPAIRS AND MAINTENANCE 3459586 3019874 439712 DUES, SUBSCRIPTIONS AND 2024466 1680962 318868 24636 3909206 3301519 607687 355369225 314518168 37990163 2860894 70530666 115607860 3909484 4123094 808062 475322 5054293 5361162 910439686 249937540 617702886 660502146 166032720 204671376 24433162 40746349 10866180 80357088 899337453 1111844397 64582750 57779989 53188788 53710552 194837756 337284918 56608781 5813277 23289285 45019606 392507360 499608342 X 465092132 560631953 41737961 51604102 506830093 612236055 899337453 1111844397 X 65914640 36671055 2820267 X X 0 1 X 1 1 1 X 12200338 12391616 15132648 17624249 24155650 81504501 12200338 12391616 15132648 17624249 24155650 81504501 81504501 3605840 4088529 5595161 5525695 4867270 23682495 2605582 3213109 3948129 3232258 3898454 16897532 766687 433595 346126 313677 228942 2089027 124173555 1670954337 0.65640 0.65350 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING PROCEEDS - 2016 AMOUNT: $ 766,687. 2017 AMOUNT: $ 433,595. 2018 AMOUNT: $ 346,126. 2019 AMOUNT: $ 313,677. 2020 AMOUNT: $ 228,942. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 0 PART II-B, LINE 1: SACRED HEART UNIVERSITY DOES NOT EMPLOY LOBBYISTS AS DEFINED BY STATE STATUTE AS PART OF ITS PAID STAFF OR MANAGEMENT, BUT SOME EMPLOYEES DO INTERACT WITH GOVERNMENT OFFICIALS AND AGENCIES FOR PURPOSES OTHER THAN INFLUENCING LEGISLATION OR PUBLIC OPINION ON LEGISLATIVE MATTERS OR REFERENDA. OCCASIONALLY THIS INCLUDES TESTIFYING BEFORE LEGISLATIVE COMMITTEES ON MATTER RELEVANT TO HIGHER EDUCATION IN THE STATE OF CONNECTICUT. IN ADDITION, SACRED HEART UNIVERSITY PAYS MEMBERSHIP DUES TO NACUBO AND A PORTION OF THE DUES SUPPORTED A NUMBER OF ADVOCACY EFFORTS. 1357098 X 0 191568286 8816292 47746818 1013400 247117996 178215437 12638158 5611837 4897146 191568286 167593741 8678077 8196400 6252781 178215437 157819679 6871952 9751467 6849357 167593741 141835372 7623629 15173714 6813036 157819679 0.83450 0.09400 0.07150 0 0 63354893 63354893 594489186 117083055 477406131 91191872 46679898 44511974 84040731 62847670 21193061 77363004 23326917 54036087 660502146 INTEREST IN SPLIT-INTEREST AGREEMENTS 124103 FUNDS HELD BY BOND TRUSTEE 54852519 OTHER ASSETS 1708655 RIGHT-OF-USE ASSETS- OPERATING LEASES 23671811 80357088 GOVERNMENT GRANTS REFUNDABLE - STUDENT LOANS 289821 TAXABLE BONDS 20546079 LEASE LIABILITY 24183706 45019606 X 354585186 36671055 21400 -103462272 -66769817 421355003 528822 -599960 -71138 421283865 249179224 21400 599960 621360 248557864 528822 106282539 106811361 355369225 PART III, LINE 4: WORKS OF ART ARE CONTRIBUTED TO THE UNIVERSITY FROM VARIOUS DONORS OR PURCHASED FOR PUBLIC EXHIBITION. THE SCHOOL DISPLAYS THEM IN VARIOUS LOCATIONS ACROSS THE UNIVERSITY FOR PUBLIC VIEWING. PART V, LINE 4: THE UNIVERSITY USES THE FUNDS FOR STUDENT SCHOLARSHIPS, TO PROVIDE EDUCATIONAL AND SUPPORT SERVICES TO MAINTAIN AND EXPAND THE UNIVERSITY CAPITAL INFRASTRUCTURE IN ORDER TO MAINTAIN THE UNIVERSITY'S FINANCIAL STABILITY. PART X, LINE 2: THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A), AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AS AMENDED. ACCORDINGLY, IT IS NOT SUBJECT TO INCOME TAXES EXCEPT TO THE EXTENT IT HAS TAXABLE INCOME FROM ACTIVITIES THAT ARE NOT RELATED TO ITS EXEMPT PURPOSE. THE UNIVERSITY RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. NO PROVISION FOR INCOME TAXES WAS REQUIRED FOR FISCAL 2021 OR 2020. PART XI, LINE 2D - OTHER ADJUSTMENTS: INSTITUTIONAL AID -106,282,539. CHANGE IN VALUE OF INTEREST RATE SWAPS 2,820,267. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -132,498. FUNDRAISING EXPENSES -467,462. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 132,498. FUNDRAISING EXPENSES 467,462. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL AID 106,282,539. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 SACRED HEART UNIVERSITY'S POLICY WHICH PROHIBITS DISCRIMINATION AGAINST PERSONS BECAUSE OF RACE, GENDER, SEXUAL ORIENTATION, PREGNANCY, COLOR, MARITAL STATUS, VETERAN STATUS, RELIGION, AGE, DISABILITY, HANDICAP, NATIONAL ORIGIN OR ANCESTRY IN ITS EMPLOYMENT POLICIES AND ITS EDUCATION AND ADMISSIONS PROGRAMS IS AVAILABLE ONLINE, IN ITS ACADEMIC CATALOG, AND WITHIN ITS STUDENT HANDBOOK. SCHEDULE E, PART I, LINE 6 SACRED HEART UNIVERSITY RECEIVES FUNDS FROM THE US DEPARTMENT OF EDUCATION. THE PROGRAM FUNDS THAT THE UNIVERSITY ADMINISTERS ARE FEDERAL PELL GRANT, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (FSEOG) AND FEDERAL WORK-STUDY (FWS), WHICH ARE TITLE IV STUDENT AID PROGRAMS. THE UNIVERSITY ALSO RECEIVES FUNDS AND PROCESSES ACCORDING TO THE CRITERIA OF STATE GOVERNMENT AGENCIES. PRIMARY FUNDING IS FROM THE STATE OF CONNECTICUT OFFICE OF HIGHER EDUCATION. OTHER STATES THAT PROVIDE ASSISTANCE TO STATE RESIDENTS ATTENDING AN OUT OF STATE INSTITUTION ARE PROCESSED AS WE RECEIVE NOTIFICATION OF ENROLLED ELIGIBLE STUDENTS. 1 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 2 29 PROGRAM SERVICES EDUCATIONAL 1313624 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 31852499 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 INVESTMENTS 5375679 0 29 0 0 0 29 38541802 0 38541802 LUXEMBOURG SCHOLARSHIPS AND DISCOUNTS EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIU 40 124698 DISCOUNT POSTED TO STUDENT ACCOUNT 1 0 1 1 1 1 PART I, LINE 3: EXPENDITURES ARE ACCOUNTED FOR USING THE ACCRUAL BASIS OF ACCOUNTING. PART III, COL (C): IRELAND: SACRED HEART UNIVERSITY OFFERS STUDENTS THE OPPORTUNITY TO DELVE INTO IRISH CULTURE IN THE HEART OF THE IRISH-SPEAKING DINGLE GAELTACHT REGION. STUDENTS STUDY IN IRISH SURROUNDINGS AND LIVE THE IRISH EXPERIENCE THROUGH HANDS-ON SEMINARS LED BY ACCOMPLISHED SCHOLARS AND LOCAL EXPERTS. WHAT DEVELOPS IS A PROFOUND UNDERSTANDING OF CELTIC CULTURE, AS WELL AS A GREATER APPRECIATION OF DIVERSE SOCIETIES. LUXEMBOURG: THE JACK WELCH COLLEGE OF BUSINESS OFFERS AN MBA CURRICULUM THAT EMPHASIZES A GLOBAL BUSINESS EDUCATION. OUR LUXEMBOURG PROGRAMS FACILITATE A RICH LEARNING EXPERIENCE WITH A FACULTY MIX OF ACCOMPLISHED SCHOLARS AND EXPERIENCED BUSINESS EXECUTIVES FROM BOTH EUROPE AND THE US WHO TEACH IN AN APPLIED LEARNING ENVIRONMENT WITH REAL-WORLD BUSINESS CASE STUDIES AND PROJECTS. SACRED HEART UNIVERSITY OFFERS A VARIETY OF STUDY ABROAD OPPORTUNITIES AROUND THE WORLD FOR SACRED HEART AND VISITING STUDENTS - WITH PROGRAMMING THAT SUPPORTS A BROAD RANGE OF EDUCATIONAL, PROFESSIONAL, AND PERSONAL OBJECTIVES. THE UNIVERSITY OFFERS FACULTY-LED PROGRAMS IN VARIOUS COUNTRIES EACH YEAR. ON THESE PROGRAMS STUDENTS DEVELOP THE HABITS OF MIND, HEART, AND SPIRIT THAT WILL PREPARE THEM TO ENGAGE PURPOSEFULLY IN A GLOBAL WORLD. COURSES COMPLETED ON A SACRED HEART STUDY ABROAD PROGRAM MAY FULFILL GENERAL EDUCATION, ELECTIVE, OR MAJOR/MINOR CREDITS, ENABLING STUDENTS, REGARDLESS OF ACADEMIC PLAN, TO STUDY ABROAD AND GRADUATE ACCORDING TO THEIR INDIVIDUAL SCHEDULES. ADDITIONAL OPPORTUNITIES ARE ALSO AVAILABLE FOR CLINICAL CREDIT OR EXPERIENTIAL LEARNING. SACRED HEART UNIVERSITY SUPPORTS STUDY ABROAD PROGRAMMING BY IDENTIFYING, DEVELOPING, NURTURING, AND MAINTAINING A DIVERSE SET OF INTERNATIONAL PROGRAMS WITH A COMMITMENT TO QUALITY, SAFETY, AFFORDABILITY AND ACCESSIBILITY. PART III ACCOUNTING METHOD: SCHEDULE F, PART I, LINE 3 (D) INVESTMENTS INCLUDED IN THIS SECTION RELATE TO INVESTMENT HOLDINGS INCLUDED IN THE UNIVERSITY'S ENDOWMENT PORTFOLIO. X X X X X X X 1 SNAVELY ASSOCIATES 112 W FOSTER AVE 401 STATE COLLEGE PA 16801 FUNDRAISING CONSULTING 0 0 27818 0 LKA FUNDRAISING & COMMNICATIONS INC 4800 SW MACADAM AVE STE 240 PORTLAND OR 97239 FUNDRAISING CONSULTING 0 0 40530 0 THE STELTER COMPANY 10435 NY AVENUE DES MOINES IA 50322 FUNDRAISING CONSULTING 0 0 18144 0 FALCON FUNDRAISING 1690 WATERTOWER PLACE EAST LANSING MI 48823 FUNDRAISING CONSULTING 0 0 10519 0 GRAHAM PELTON ASSOCIATES 39 BEECHWOOD RD SUMMIT NJ 07901 FUNDRAISING CONSULTING 0 0 70422 0 PREMIER SPORTS ADVISORS LLC 76 SZOST DRIVE FAIRFIELD CT 06824 FUNDRAISING CONSULTING 0 0 15000 0 182433 CT SHU INVITATIONAL 440250 345714 94536 32169 10000 55122 63710 HORIZONS EVENTS 364721 325798 38923 13652 24634 9930 8 798261 702778 95483 7139 54975 57514 750 137867 1603232 1374290 228942 39308 78627 137270 750 211507 467462 -238520 0 FEDERAL AID 591 524281 STATE AID 9 27500 RESIDENCE HALL ASSISTANT WAIVERS AND AWARDS 141 1131080 OTHER SCHOLARSHIPS WHICH ARE NEEDS-BASED OR BASED ON ATHLETIC OR ACADEMIC TALENTS 4803 104474980 PART I, LINE 2: THE THREE AREAS OF FINANCIAL ASSISTANCE TO STUDENTS ARE LOANS, GRANTS, AND EMPLOYMENT (WORK-STUDY). THESE ARE GENERALLY AWARDED ON THE BASIS OF FINANCIAL NEED, DETERMINED BY AN ANALYSIS OF FAMILY INCOME AND ASSETS. SCHOLARSHIPS ARE ANOTHER SOURCE OF FINANCIAL ASSISTANCE, AWARDED ON THE BASIS OF ACADEMIC ACHIEVEMENT, ATHLETICS OR PERFORMING ARTS, COMMUNITY SERVICE OR LEADERSHIP. CRITERIA FOR MERIT BASED AWARDS MAY ALSO INCLUDE A FINANCIAL NEEDS REQUIREMENT. THE UNIVERSITY MONITORS THE AMOUNT ISSUED BY CALCULATING A COST OF ATTENDANCE, ASSESSING AN ESTIMATED FAMILY CONTRIBUTION (EFC), AND DERIVING A LEVEL OF FINANCIAL NEED. ONCE THE AMOUNT OF AID HAS BEEN DETERMINED FOR THE INDIVIDUAL, IT IS DISPERSED TO THE STUDENT'S ACCOUNT AND IS CONTROLLED BY THE BURSAR'S OFFICE. SEVERAL REPORTS/SURVEYS ARE USED ANNUALLY TO MONITOR THE DISTRIBUTION OF GRANT ASSISTANCE; FOR EXAMPLE, FISAP REPORT TO USDE, FEDERAL SINGLE AUDIT, FEDERAL IPEDS REPORT, STATE SINGLE AUDIT, AND VARIOUS SURVEYS THAT TYPICALLY USE INFORMATION FROM THE COMMON DATA SET (CDS). X X 1 1 X X X X X 0 1 0 1 0 1 0 1 1 0 JOHN J PETILLO PHD PRESIDENT 491370 0 372206 0 1040451 0 204390 0 104358 0 2212775 0 0 0 MICHAEL J KINNEY SVP/ADVISIOR UNTIL 7/1/20 341277 0 168191 0 69163 0 10267 0 10218 0 599116 0 0 0 JAMES BARQUINERO SR. VICE PRESIDENT 284423 0 85781 0 3239 0 30735 0 35850 0 440028 0 0 0 MARTHA CRAWFORD DEAN 281388 0 99367 0 552 0 23400 0 19192 0 423899 0 0 0 RUPENDRA PALIWAL PROVOST & VICE PRESIDENT FOR ACADEMI 284208 0 82451 0 1242 0 29754 0 593 0 398248 0 0 0 DAVID COPPOLA SR. VP ADMIN & PLANNING 235987 0 63182 0 3431 0 25151 0 34251 0 362002 0 0 0 MICHAEL LAROBINA ESQ GENERAL COUNSEL 214417 0 61964 0 2069 0 23131 0 11379 0 312960 0 0 0 PHILIP MCCABE SR. VP FOR FINANCE 206651 0 55369 0 6178 0 22469 0 18583 0 309250 0 0 0 ROBERT M HARDY VICE PRESIDENT 209545 0 61645 0 2957 0 22828 0 2500 0 299475 0 0 0 MAURA IVERSEN DEAN 218351 0 31397 0 2027 0 25912 0 10379 0 288066 0 0 0 WILLIAM REIDY VICE PRESIDENT 180976 0 48939 0 2630 0 20025 0 34850 0 287420 0 0 0 ROBERT J VALENTINE EXECUTIVE DIRECTOR OF ATHL 255662 0 0 0 3702 0 19973 0 0 0 279337 0 0 0 ROBIN CAUTIN DEAN 191363 0 55180 0 360 0 16236 0 0 0 263139 0 0 0 PART I, LINE 1A THE UNIVERSITY PROVIDES ON CAMPUS HOUSING TO ITS PRESIDENT FOR THE CONVENIENCE OF THE UNIVERSITY. THE ESTIMATED RENT IS INCLUDED AS A NON-TAXABLE BENEFIT IN PART II, COLUMN D. THE PRESIDENT RECEIVED GROSS-UP PAYMENTS THAT ARE INCLUDED AS TAXABLE WAGES IN PART II, COLUMN B(III). PART I, LINE 3 COMPENSATION FOR THE UNIVERSITY'S PRESIDENT/CEO IS DETERMINED THROUGH AN EXTENSIVE REVIEW OF THE JOB RESPONSIBILITIES AND EXPECTATIONS OUTLINED BY THE BOARD. THE COMPENSATION COMMITTEE THEN PERFORMS A REVIEW OF EXTERNAL MARKET AND INDUSTRY SURVEY AND STUDY DATA. CONSIDERATION OF ALL ADDITIONAL RESPONSIBILITIES ARE DETAILED OUT IN SPECIFIC LANGUAGE IN AN EMPLOYMENT CONTRACT APPROVED BY OUR LEGAL COUNSEL. FINAL SALARY RANGES ARE THEN DETERMINED BY THE COMPENSATION COMMITTEE. COMPENSATION IS DETERMINED BY THE EVALUATION OF THE JOB DESCRIPTION AGAINST EXTERNAL MARKET DATA AVAILABLE AS WELL AS THE REVIEW OF OUR INTERNAL EMPLOYEE DATA. CONSIDERATION OF ADDITIONAL RESPONSIBILITIES AND OTHER FACTORS MAY ALSO CONTRIBUTE IN DETERMINING COMPENSATION. THE DELIBERATION AND DECISION ARE CONTEMPORANEOUSLY DOCUMENTED. PART I, LINE 4B THE PRESIDENT PARTICIPATED IN A SECTION 457 (F) NON-QUALIFIED DEFERRED COMPENSATION PLAN, WHICH WAS EFFECTIVE JULY 1, 2016. THE PRESIDENT BECAME 100% VESTED ON JULY 1, 2020 AND THE AMOUNT IS INCLUDED AS TAXABLE WAGES IN PART II, COLUMN B(III). PART I, LINE 5 BONUSES ARE PAID TO SENIOR STAFF MEMBERS BASED IN PART ON ACHIEVING BUDGETED REVENUE GOALS. PART I, LINE 6 BONUSES ARE PAID TO SENIOR STAFF MEMBERS BASED IN PART ON ACHIEVING THE TRANSFER TO THE TRUSTEE RESERVES. SENIOR STAFF MEMBERS HAVE PERFORMANCE MEASURES FOR MANAGING THE UNIVERSITY TO MAINTAIN A BALANCED BUDGET. PART I, LINE 7 THERE ARE QUANTITATIVE MEASURES THAT ARE APPLIED IN DETERMINING BONUSES TO SENIOR STAFF MEMBERS. THE PRESIDENT AND THE BOARD HAVE DISCRETION TO ADJUST THE PAYMENTS FOR UNUSUAL CIRCUMSTANCES. IN ALL CASES, THESE PAYMENTS ARE REVIEWED WITH AND APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. PART I, LINE 8 THE FOLLOWING INDIVIDUAL LISTED ON FORM 990, PART VII RECEIVED COMPENSATION THAT WAS PAID PURSUANT TO AN INITIAL CONTRACT WITH THE UNIVERSITY: - RUPENDRA PALIWAL, PROVOST & VICE PRESIDENT FOR ACADEMIC AFFAIRS - DAVID COPPOLA, SR. VICE PRESIDENT ADMINISTRATION & PLANNING - MARTHA CRAWFORD, DEAN - PHILIP MCCABE, SR. VICE PRESIDENT FOR FINANCE A SACRED HEART UNIVERSITY - SERIES I-1 060776644 20774Y2C0 2017-11-22 157271506 SEE PART VI 0 0 0 B SACRED HEART UNIVERSITY - SERIES J-1 060776644 2017-11-22 53465000 SEE PART VI 0 0 0 C SACRED HEART UNIVERSITY - SERIES K 060776644 20775DJT0 2002-09-22 150439692 SEE PART VI 0 0 0 A 10070000 157271506 1035765 50463737 105772004 2019 1 0 1 1 B 7436122 53465000 372301 53092699 1 0 1 1 C 150439692 992749 149446943 0 0 0 1 A 0 0 1 1 0 0.00570 0.00570 0 0 1 B 0 0 1 1 0 0.00140 0.00140 0 0 1 C 0 0 1 1 0 0.00010 0.00010 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 1 1 PEOPLE'S UNITED BANK NATIONAL 19.600000000000 1 0 0 0 1 C 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 SCHEDULE K, PART I, LINE A (F): REFUNDING AND DEFEASANCE OF SERIES H, SETTLE LOC, CONSTRUCTION. SCHEDULE K, PART I, LINE B (F): REFUNDING AND DEFEASANCE OF EARLIER SERIES F AND PORTION OF SERIES G. SCHEDULE K, PART I, LINE C (F): CONTRUCTION PROJECTS INCLUDING RESIDENTIAL HOUSING. SCHEDULE K, PART IV, LINE 2C THE FIRST REQUIRED COMPUTATION DATE FOR SERIES J-1 IS 11/22/2022. 22225 GRANT AND OTHER ASSISTANCE FINANCIAL AID X 14718 FMV X 17 402477 FMV X 6 1071 FMV X 1 50 FMV X 100 669 FMV X SPECIAL EVENT GIFTS 28 20652 FMV X EQUIPMENT 62 3215 FMV 0 0 0 PART I, COLUMN (B): NUMBER OF CONTRIBUTIONS REPRESENTS THE NUMBER OF ITEMS CONTRIBUTED. FORM 990, PART VI, SECTION B, LINE 11B THE FOLLOWING IS THE SUCCESSION OF THE REVIEWS THAT OCCUR PRIOR TO FILING FORM 990. REVISIONS TO THE RETURN MAY BE MADE AT ANY POINT PRIOR TO FINAL FILING OF THE RETURN: THE RETURN IS PREPARED BY AN OUTSIDE PREPARER WITH THE ASSISTANCE OF THE ACCOUNTING STAFF. THE RETURN IS THEN INDEPENDENTLY REVIEWED BY THE ASSOCIATE VP FOR FINANCE AND SENIOR VP FOR FINANCE. COPIES OF THE RETURN ARE PROVIDED TO THE PRESIDENT, EACH MEMBER OF THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES AND THE CORPORATE SECRETARY FOR THEIR REVIEW AND COMMENT PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EVERY YEAR, THE CONFLICT OF INTEREST POLICY IS REVIEWED. ALL KEY EMPLOYEES, TRUSTEES AND OFFICERS OF THE UNIVERSITY ARE REQUIRED TO REVIEW AND COMPLETE THE FORMS AS APPROPRIATE, SIGN, AND SUBMIT THE FORMS TO THEIR MANAGER OR BOARD SECRETARY FOR REVIEW AND SIGNATURE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE UNIVERSITY'S PRESIDENT/CEO IS DETERMINED THROUGH AN EXTENSIVE REVIEW OF THE JOB RESPONSIBILITIES AND EXPECTATIONS OUTLINED BY THE BOARD. THE COMPENSATION COMMITTEE THEN PERFORMS A REVIEW OF EXTERNAL MARKET AND INDUSTRY SURVEY AND STUDY DATA. CONSIDERATION OF ALL ADDITIONAL RESPONSIBILITIES ARE DETAILED OUT IN SPECIFIC LANGUAGE IN AN EMPLOYMENT CONTRACT APPROVED BY OUR LEGAL COUNSEL. FINAL SALARY RANGES ARE THEN DETERMINED BY THE COMPENSATION COMMITTEE. COMPENSATION FOR OTHER KEY EMPLOYEES IS DETERMINED BY THE EVALUATION OF THE JOB DESCRIPTION AGAINST EXTERNAL MARKET DATA AVAILABLE AS WELL AS THE REVIEW OF OUR INTERNAL EMPLOYEE DATA. CONSIDERATION OF ADDITIONAL RESPONSIBILITIES AND OTHER FACTORS MAY ALSO CONTRIBUTE IN DETERMINING COMPENSATION. COMPENSATION FOR THE UNIVERSITY'S OTHER OFFICERS AND KEY EMPLOYEES IS ORIGINALLY DETERMINED BASED ON EXTERNAL MARKET AND INDUSTRY SURVEY AS WELL AS THE REVIEW OF OUR INTERNAL EMPLOYEE DATA. ANY ADDITIONAL RESPONSIBILITIES ARE ALSO CONSIDERED. THE DATA IS REVIEWED BY A COMMITTEE AUTHORIZED BY THE BOARD OF TRUSTEES. DECISIONS AND AUTHORIZATIONS ARE DOCUMENTED AND PLACED ON FILE WITH THE VICE PRESIDENT OF HUMAN RESOURCES. FINAL ANNUAL SALARY RECOMMENDATIONS FROM THE PRESIDENT ARE SUBMITTED FOR REVIEW AND APPROVED BY THE HUMAN RESOURCES COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 GUIDESTAR.ORG POSTS THE UNIVERSITY'S 990 FILING ANNUALLY. THIS MAKES THE 990 WIDELY AVAILABLE THROUGH THE INTERNET. COPIES ARE ALSO MADE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. GOVERNING DOCUMENTS AND THE ANNUAL FINANCIAL REPORT ARE MADE AVAILABLE TO BOARD MEMBERS AND IN COMPLIANCE WITH DEBT COVENANTS. UNIVERSITY EMPLOYEE AND FACULTY HANDBOOKS ARE POSTED ON THE UNIVERSITY WEBSITE. IN ADDITION, ALL STAFF AND FACULTY RECEIVE A HARD COPY. THE CONFLICT OF INTEREST POLICY IS ANNUALLY DISTRIBUTED ONLY TO KEY EMPLOYEES, DIRECTORS, AND OFFICERS OF THE UNIVERSITY TO SIGN AND RETURN. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAPS 2,820,267. FORM 990, PART XII, LINE 2C: THERE WERE NO CHANGES TO THE UNIVERSITY'S OVERSIGHT OR SELECTION PROCESSES DURING THE TAX YEAR. CORAM LANE LLC 5151 PARK AVE FAIRFIELD CT 06825 475563897 OPERATION OF GREAT RIVER GOLF CLUB CT 3839266 7907048 SACRED HEART UNIVERSITY SACRED HEART CAMPUS IN DINGLE THE MALL DINGLE CO KERRY EI CURRICULUM EXPANSION EI 393427 1608617 SACRED HEART UNIVERSITY