2022-04-14T22:41:16-05:00 2021-06-30 953001179 WINDES INC PO BOX 87 LONG BEACH CA 908010087 990 2020-07-01 952113260 MARYMOUNT CALIFORNIA UNIVERSITY MARY 3103775501 30800 PALOS VERDES DRIVE EAST RANCHO PALOS VERDES CA 90275 RICHARD ANDERSON CFO 3103775501 2022-02-23 1 RICHARD ANDERSON 999009999 DONITA M JOSEPH P00286656 5624351191 2022-02-23 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z BRIAN MARCOTTE 30800 PALOS VERDES DRIVE EAST RANCHO PALOS VERDES CA 90275 30081252 0 0928 X WWW.MARYMOUNTCALIFORNIA.EDU X 1968 CA MARYMOUNT CALIFORNIA UNIVERSITY IS A CATHOLIC INSTITUTION THAT WELCOMES STUDENTS OF ALL FAITHS AND BACKGROUNDS INTO A QUALITY, VALUES-BASED EDUCATION. 11 10 253 12 0 0 599898 2218349 25661335 21996444 811853 1071181 20936 1675593 27094022 26961567 8624464 8343263 0 0 10694019 10917533 0 0 363643 10893191 8461060 30211674 27721856 -3117652 -760289 44710924 39909851 11804734 7097314 32906190 32812537 X MARYMOUNT CALIFORNIA UNIVERSITY IS A CATHOLIC INSTITUTION THAT WELCOMES STUDENTS OF ALL FAITHS AND BACKGROUNDS INTO A QUALITY, VALUES-BASED EDUCATION. WE FOSTER A STUDENT-CENTERED APPROACH TO LEARNING THAT PROMOTES THE DEVELOPMENT OF THE WHOLE PERSON. INSPIRED BY THE RELIGIOUS OF THE SACRED HEART OF MARY, WE CHALLENGE OUR STUDENTS TO PURSUE LIVES OF LEADERSHIP AND SERVICE. MARYMOUNT CALIFORNIA UNIVERSITY EMPOWERS ITS STUDENTS THROUGH AN EDUCATIONAL PROGRAM THAT DEVELOPS PRINCIPLED THINKERS IN THE CATHOLIC LIBERAL ARTS TRADITION. WE PROMOTE AN OPEN AND WELCOMING CAMPUS THAT BUILDS SKILLS FOR LIFELONG LEARNING. WE ASSIST STUDENTS TO REACH THEIR GOALS IN HIGHER EDUCATION. WE STRIVE TO GRADUATE STUDENTS WHO EMBODY THE VIRTUES OF INTEGRITY, RESPECT FOR HUMAN DIGNITY AND COMMITMENT TO JUSTICE. 0 0 12597304 8343263 81928 STUDENT SERVICES - THE OFFICE OF FINANCIAL AID AWARDED TO APPROXIMATELY 579 STUDENTS SCHOLARSHIP AND FINANCIAL ASSISTANCE IN FISCAL YEAR 2020-2021. 4349026 21601724 INSTRUCTION - THE COLLEGE SERVED APPROXIMATELY 551 FULL TIME EQUIVALENT COLLEGE STUDENTS IN FISCAL YEAR 2020-2021. 4649175 312792 AUXILIARY ENTERPRISES (E.G. STUDENT HOUSING, FOOD SERVICE AND TRANSPORTATION). 21595505 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 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 0 0 0 0 1 61 0 1 253 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 0 0 CA X X DEBORA YAVAS 3103775501 30800 PALOS VERDES DRIVE EAST RANCHO PALOS VERDES CA 90275 BRIAN MARCOTTE PRESIDENT 40.00 X X 182500 0 0 BRET JOHNSEN CHAIR 1.00 X 0 0 0 RICK EDLER VICE CHAIR 1.00 X 0 0 0 BURT ARNOLD PAST CHAIR - THRU 10/6/2020 1.00 X 0 0 0 SR ANTOINE-MARIE BAURIER SECRETARY 1.00 X 0 0 0 RANDY BOWERS FINANCE CHAIR - THRU 6/5/2021 1.00 X 0 0 0 HON JOSE H GOMEZ TRUSTEE 1.00 X 0 0 0 LEE LIGONS TRUSTEE 1.00 X 0 0 0 CAROLINE SAYERS CHAIR, ADMISSIONS, RETENTION, STUDENT DEVELOPMENT 1.00 X 0 0 0 DR SUE SOLDOFF DEVELOPMENT CHAIR 1.00 X 0 0 0 FR MARK VILLANO TRUSTEE 1.00 X 0 0 0 CHRISTOPHER WARMUTH TRUSTEE 1.00 X 0 0 0 DR WILLIAM J PETAK TRUSTEE EMERTIUS 1.00 X 0 0 0 RICHARD ANDERSON INTERIM CFO 40.00 X 82644 0 2762 ARIANE SCHAUER PROVOST & EXECUTIVE VICE PRESIDENT 40.00 X 200000 0 20074 ROBYN JONES VICE PRESIDENT OF ENROLLMENT MANAGEMENT 40.00 X 165000 0 26570 RYAN ALCANTARA VP OF STUDENT AFFAIRS & DEAN OF STUDENTS 40.00 X 147000 0 8836 KIMBERLY BLUE WADE DEPT. CHAIR OF MULTIDISCIPLINARY STUDIES 40.00 X 128500 0 11258 DEBORA YAVAS ACCOUNTING BUDGET MGR 40.00 X 118875 0 26000 KAREN THORDARSON DIRECTOR OF HUMAN RESOURCES 40.00 X 108500 0 40893 CYNTHIA MONTECUE DIR. OF MARKETING & COMMUNICATIONS 40.00 X 125000 0 5820 1258019 0 142213 12 0 1 0 RIVERROCK REAL ESTATE GROUP 2392 MORSE AVE SUITE 100 IRVINE CA 92614 PROPERTY MANAGEMENT 544051 KINGS COLLEGES USA LLC 1555 CASSIL PLACE LOS ANGELES CA 90028 UNIVERSITY PATHWAY 453040 UNDERSCORE BRANDING LLC 220 NORTH AMES ST 101 MATTHEWS NC 28105 MARKETING 110000 3 X 1974470 243879 3634 2218349 TUITION & FEES 900099 21601724 21601724 AUXILIARY ENTERPRISES 900099 312792 312792 STUDENT SERVICES 900099 81928 81928 21996444 177842 177842 4013024 3119685 893339 893339 893339 EMPLOYEE RETENTION CREDIT 900099 1657413 1657413 RECOVERY OF INDIRECT COSTS 900099 18180 18180 1675593 26961567 21996444 0 2746774 8343263 8343263 775216 539394 217572 18250 7729814 6005871 1578832 145111 386872 252082 125960 8830 1427466 909156 486418 31892 598165 457426 130749 9990 74872 74872 78285 78285 35960 35960 1442496 786317 593351 62828 88957 38433 29918 20606 229236 97063 131648 525 915103 332886 545971 36246 1292873 697951 594922 178925 141388 37537 2175050 1910714 264336 324313 58645 265668 UNIVERSITY SERVICES 827858 640229 161506 26123 DUES AND SUBSCRIPTIONS 232785 191126 41016 643 BANK & ADMIN FEES 123863 1100 122763 EQUIPMENT RENTAL 90118 33860 56258 350366 158601 189166 2599 27721856 21595505 5762708 363643 121177 188322 5119378 2966311 275000 75000 367000 2144935 110494 158822 48286751 24818770 25494239 23467981 11768941 10287365 1406472 572892 48223 48223 44710924 39909851 683425 209359 521210 455594 3713616 3244895 6886483 3187466 11804734 7097314 X 24071841 24208295 8834349 8604242 32906190 32812537 44710924 39909851 -760289 666636 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13175412 157253 1697870 4170278 10860257 12939075 102025 237840 103528 13175412 12360679 120283 575508 117395 12939075 10714170 1060813 625209 39513 12360679 9611699 25515 1077056 100 10714170 0.59600 0.39700 0.00700 1 0 7436400 7436400 9885521 4367279 5518242 22372535 14627036 7745499 5033747 4641765 391982 3558548 1182690 2375858 23467981 ACCRUED EMPLOYEES SALARIES & BENEFITS 1187466 PPP LOAN 2000000 3187466 X 19248979 666636 666636 18582343 35960 8343264 8379224 26961567 19342632 0 19342632 35960 8343264 8379224 27721856 PART V, LINE 4: DESCRIBE THE INTENDED USE OF THE ORGANIZATION'S ENDOWMENT FUNDS. THE INTENDED USES OF MARYMOUNT CALIFORNIA UNIVERSITY'S ENDOWMENT FUNDS INCLUDE A VARIETY OF PURPOSES INCLUDING FUNDING OF SCHOLARSHIPS, ACADEMIC SUPPORT, CAPITAL AND OTHER SPECIAL PROJECTS. PART X, LINE 2: FIN 48: THE UNIVERSITY ADOPTED FASB ASC TOPIC NO. 740, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (ASC 740). IN ACCORDANCE WITH ASC 740, THE UNIVERSITY RECOGNIZES THE IMPACT OF TAX POSITIONS IN THE FINANCIAL STATEMENTS IF THAT POSITION IS MORE LIKELY THAN NOT OF BEING SUSTAINED ON AUDIT, BASED ON THE TECHNICAL MERITS OF THE POSITION. TO DATE, THE UNIVERSITY HAS NOT RECORDED ANY UNCERTAIN TAX POSITIONS. THE UNIVERSITY RECOGNIZES THE POTENTIAL ACCRUED INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS IN INCOME TAX EXPENSE. THE UNIVERSITY IS SUBJECT TO POTENTIAL INCOME TAX AUDITS ON OPEN TAX YEARS BY ANY TAXING JURISDICTION IN WHICH IT OPERATES. THE STATUTE OF LIMITATIONS FOR FEDERAL PURPOSES IS THREE YEARS AND FOR CALIFORNIA IS FOUR YEARS. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID ASSISTANCE RECOGNIZED AS GRANTS TO INDIVIDUALS 8,343,264. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID ASSISTANCE RECOGNIZED AS GRANTS TO INDIVIDUALS 8,343,264. FORM 990, PART X, LINE 25 - PPP LOAN ADVANCE FORGIVENESS IN JANUARY 2021, THE SBA ANNOUNCED A SECOND DRAW OF PAYCHECK PROTECTION PROGRAM LOANS FOR ELIGIBLE ENTITIES. IN FEBRUARY 2021, THE UNIVERSITY WAS APPROVED TO RECEIVE $2,000,000 OF PAYCHECK PROTECTION PROGRAM FUNDS. PER THE TERMS OF THE LOAN, THE FULL AMOUNT WILL BE FORGIVEN AS LONG AS LOAN PROCEEDS ARE USED TO COVER PAYROLL COSTS AND OTHER SPECIFIED NONPAYROLL COSTS (PROVIDED ANY NONPAYROLL COSTS DO NOT EXCEED 40% OF THE FORGIVEN AMOUNT) OVER A 24-WEEK PERIOD AFTER THE LOAN IS MADE; AND EMPLOYEE AND COMPENSATION LEVELS ARE MAINTAINED. THE UNIVERSITY INTENDS TO COMPLY WITH THE ABOVE TERMS IN ORDER TO QUALIFY FOR FULL OR PARTIAL LOAN FORGIVENESS. TO THE EXTENT IT IS NOT FORGIVEN, THE UNIVERSITY WOULD BE REQUIRED TO REPAY THAT PORTION AT AN INTEREST RATE OF 1% OVER A PERIOD OF FIVE YEARS, WITH A FINAL INSTALLMENT ESTIMATED BY FEBRUARY 2026. GIVEN THAT FULL FORGIVENESS IS ANTICIPATED, THE FULL AMOUNT IS PRESENTED AS LONG TERM PAYABLE IN THE FISCAL YEAR ENDING JUNE 30, 2026. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 A NOTICE OF THE UNIVERSITY'S NONDISCRIMINATORY POLICY IS PUBLISHED AND ADVERTISED TO THE PUBLIC VIA BOTH THE UNIVERSITY'S WEBSITE AND BROCHURES IN ACCORDANCE WITH REVENUE PROCEDURE 75-50. SCHEDULE E, PART I, LINE 6 THE COLLEGE ADMINISTERS FEDERAL GOVERNMENT FINANCIAL AID TO ITS STUDENTS. THE COLLEGE IS ALSO THE FISCAL AGENT OF PROJECT GRAD LOS ANGELES THE RECIPIENT OF GEARUP FUNDS FROM THE U.S. DEPARTMENT OF EDUCATION. 1 HEERF I STUDENT GRANTS 6 18108 HEERF II STUDENT GRANTS 435 449280 INSTITUTIONAL AND ENDOWED SCHOLARSHIPS/GRANTS 513 7875875 PART I, LINE 2: DESCRIBE THE PROCEDURES FOR MONITORING USE OF GRANT FUNDS IN THE U.S.: PELL GRANT AND DIRECT LOAN ORIGINATION AND DISBURSEMENT IS COMPLETED BY THE ASSOCIATE DIRECTOR. THE DIRECTOR COMPLETES RECONCILIATION OF THE PELL GRANT AND DIRECT LOAN PROGRAMS. CNS CREATES PELL GRANT ORIGINATION AND DISBURSEMENT RECORDS, WHICH ARE SENT VIA EDCONNECT THROUGH THE COMMON ORIGINATION AND DISBURSEMENT (COD) PROCESS. STATEMENT OF ACCOUNTS FILES ARE RECONCILED MONTHLY BETWEEN CNS AND STUDENT ACCOUNTS RECORDS, COD AND FINANCIAL AID AND BETWEEN FINANCIAL AID AND STUDENT ACCOUNTS. THE DIRECTOR IS RESPONSIBLE FOR THE ADMINISTRATION OF THE CAL GRANT PROGRAM. THE WEBGRANTS ROSTER FROM THE CALIFORNIA STUDENT AID COMMISSION IS USED TO DETERMINE A STUDENT'S ELIGIBILITY FOR A CAL GRANT AWARD. RECONCILIATION IS COMPLETED EVERY TERM AFTER PAYMENT TRANSACTIONS ARE REPORTED THROUGH WEBGRANTS ON A STUDENT-BY-STUDENT BASIS. THE DIRECTOR OVERSEES THE ADMINISTRATION OF THE INSTITUTIONAL GRANTS & SCHOLARSHIPS. INSTITUTIONAL GRANTS & SCHOLARSHIPS ARE AWARDED TO STUDENTS THAT MEET THE SPECIFIC AWARD'S CRITERIA. THE INSTITUTIONAL GRANTS & SCHOLARSHIPS ARE POSTED IN CNS AND BATCHED OVER TO STUDENT ACCOUNTS ONCE PAYMENT HAS BEEN MADE. X X 0 0 0 0 0 0 0 0 0 ARIANE SCHAUER PROVOST & EXECUTIVE VICE PRESIDENT 200000 0 0 0 0 0 11879 0 8195 0 220074 0 0 0 ROBYN JONES VICE PRESIDENT OF ENROLLMENT MANAGEM 165000 0 0 0 0 0 26000 0 570 0 191570 0 0 0 BRIAN MARCOTTE PRESIDENT 182500 0 0 0 0 0 0 0 0 0 182500 0 0 0 RYAN ALCANTARA VP OF STUDENT AFFAIRS & DEAN OF STUD 147000 0 0 0 0 0 8836 0 0 0 155836 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B DESCRIBE THE PROCESS USED BY THE ORGANZATION TO REVIEW THE FORM 990. THE INFORMATIONAL RETURN WAS PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND REVIEWED AND APPROVED BY MANAGEMENT. ONCE APPROVED BY THE MANAGEMENT, THE RETURN WAS PROVIDED TO THE REST OF THE BOARD PRIOR TO BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C DOES THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITOR AND ENFORCE COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY? ALL BOARD OF TRUSTEE MEMBERS ARE REQUIRED TO SIGN A STATEMENT ACKNOWLEDGING THEY UNDERSTAND OUR CONFLICT OF INTEREST POLICY AND ARE REQUIRED TO DISCLOSE ANY SUCH CONFLICTS. VENDOR SELECTIONS MUST BE SUPPORTED BY 3 SEPARATE QUOTES, AND MULTIPLE APPROVAL SIGNATURES ARE REQUIRED ON CONTRACTS AND EXPENDITURES IN ORDER TO ENSURE OBJECTIVE DECISIONS ARE MADE WITH CHECKS AND BALANCES. FORM 990, PART VI, SECTION B, LINE 15A DESCRIBE THE PROCESS FOR DETERMINING COMPENSATION OF THE ORGANIZATION'S CEO, EXECUTIVE DIRECTOR, OR TOP MANAGEMENT OFFICIAL. THE ORGANIZATION'S BOARD OF TRUSTEES PERIODICALLY REVIEWS THE PRESIDENT'S COMPENSATION PACKAGE IN ITS CONSIDERATION. THE BOARD REVIEWS DATA PROVIDED BY SUCH ORGANIZATION AS ASSOCIATION OF INDEPENDENT CALIFORNIA COLLEGES AND UNIVERSITIES AS WELL AS OTHER DATA SOURCE. FORM 990, PART VI, SECTION C, LINE 18 DESCRIBE HOW THE ORGANIZATION MAKES THE ITS DOCUMENTS AVAILABLE FOR PUBLIC INSPECTION. THE UNIVERSITY'S FORM 990 IS AVAILABLE TO THE PUBLIC EITHER THROUGH WWW.GUIDESTAR.ORG OR UPON WRITTEN REQUEST. THE UNIVERSITY WAS FORMED IN 1968 AND, HENCE, IS NOT REQUIRED TO MAKE THE FORM 1023 AVAILABLE FOR PUBLIC INSPECTION. FORM 990, PART VI, SECTION C, LINE 19 DESCRIBE HOW THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. THE UNIVERSITY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON WRITTEN REQUEST. THE INFORMATIONAL RETURNS ARE ALSO MADE AVAILABLE TO THE PUBLIC THROUGH WWW.GUIDESTAR.ORG, A PUBLIC WEBSITE. FORM 990, PART VIII, LINE 1E - PPP LOAN FORGIVENESS IN MARCH 2020, CONGRESS PASSED THE PAYCHECK PROTECTION PROGRAM (PPP) UNDER DIVISION A, TITLE I OF THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT, AUTHORIZING LOANS TO SMALL ORGANIZATIONS FOR USE IN PAYING EMPLOYEES THAT THEY CONTINUE TO EMPLOY THROUGHOUT THE COVID-19 PANDEMIC AND FOR RENT, UTILITIES AND INTEREST ON MORTGAGES. LOANS OBTAINED THROUGH THE PROGRAM ARE ELIGIBLE TO BE FORGIVEN AS LONG AS THE PROCEEDS ARE USED FOR QUALIFYING PURPOSES AND CERTAIN OTHER CONDITIONS ARE MET. ON APRIL 22, 2020, THE UNIVERSITY RECEIVED A LOAN IN THE AMOUNT OF $1,974,470 THROUGH THE PPP. ON MARCH 4, 2021, THE UNIVERSITY RECEIVED NOTICE FROM THE SBA THAT THE FULL AMOUNT OF THE LOAN WAS FORGIVEN AND THIS FORGIVENESS IS PRESENTED SEPARATELY ON THE STATEMENT OF ACTIVITIES.