2021-11-15T14:54:02-06:00 2020-12-31 363990892 Capin Crouse LLP 3050 Saturn Street Suite 104 Brea CA 92821 990 2020-01-01 272912448 University of Saint Katherine UNIV 7609431107 1637 Capalina Road San Marcos CA 92069 Dr Frank Papatheofanis President 7609431107 2021-11-15 1 Dr Frank Papatheofanis 999009999 Ted R Batson Jr P00721951 5055022746 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z Dr Frank Papatheofanis 1637 Capalina Road San Marcos CA 92069 7313950 0 X www.USK.edu X 2010 CA Independent liberal arts college formed in Orthodox Christian tradition to award BA, BS & MA degrees. 14 14 99 15 0 0 308758 1127728 3319005 6139489 0 553 10598 40450 3638361 7308220 0 2492522 0 0 2520217 2708756 0 0 0 1127490 1393851 3647707 6595129 -9346 713091 1729858 1906305 780938 337996 948920 1568309 X To provide a balanced education in the liberal arts & sciences, founded and rooted in the life of the Orthodox Christian Tradition - inquiry seeking wisdom. 0 0 5437207 2492522 6139489 University of Saint Katherine (USK) is a regionally accredited undergraduate college of liberal arts and sciences that focuses its integrative, interdisciplinary teaching in the core areas of composition, English language and literature, American government and history, economics, business, and the sciences as part of general education and instruction in concentration-specific degree requirements. Outstanding teaching and research - with relevance to the practical world and Christian witness as guiding principles - is our primary purpose - inquiry seeking wisdom. We aim to graduate creative and compassionate leaders. USK's enrollment for 2020 was 256. College programs encompass 19 degree-granting programs, as well as interdisciplinary collaborations, laboratories, and programs whose work cuts across traditional departmental boundaries. We realize these aims in a singularly collegial, interdisciplinary atmosphere, while educating outstanding students to become creative members of society. All students complete a six-semester interdisciplinary core, one semester of college algebra, one semester of introductory statistics and critical problem solving, two semesters of science, one semester of Orthodox Christian theology and one semester of New Testament. 5437207 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 344 0 1 99 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 14 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X Charlotte Fowler 7609431107 1637 Capalina Road San Marcos CA 92069 Daniel Braun Chairman of the Board 1.00 X X 0 0 0 Saba Saba part year Secretary 1.00 X X 0 0 0 Concetta Smarius - Treasurer Chair Audit & Finance Committee 1.00 X X 0 0 0 Angelo Georggin Esq Trustee 1.00 X 0 0 0 Arturo Alemany Trustee 1.00 X 0 0 0 Carol Vassiliadis Trustee 1.00 X 0 0 0 Despina Georggin Esq Trustee 1.00 X 0 0 0 James Waters Esq Trustee 1.00 X 0 0 0 John Dempsey Trustee 1.00 X 0 0 0 Penny Brunner Trustee 1.00 X 0 0 0 Steven Kreta Trustee 1.00 X 0 0 0 Thomas Buchanan Trustee 1.00 X 0 0 0 Terry Orr-Weaver Trustee 1.00 X 0 0 0 Andrew Geleris Trustee 1.00 X 0 0 0 Tom Braun Trustee 1.00 X 0 0 0 Frank Papatheofanis President 40.00 X 127500 0 0 Ryan West part year CFO/COO 40.00 X 41338 0 0 Daniel Strange Director of Athletics 40.00 X 126000 0 0 294838 0 0 2 0 0 0 0 996371 131357 1127728 Tuition and fees 611710 6139489 6139489 6139489 125 125 14488 5730 8758 8758 8758 428 0 428 428 428 Credit card rewards 900099 13496 13496 18196 18196 31692 7308220 6139489 0 41003 2492522 2492522 168838 168838 2325982 1970658 355324 213936 178933 35003 24239 24239 133833 133833 147409 47596 99813 45045 8918 36127 51404 22441 28963 104131 29850 74281 267301 223790 43511 66473 66225 248 17811 6768 11043 41921 41083 838 38778 15819 22959 Athletic Equip/Uniforms 275459 275459 Dues & Subscriptions 76740 35836 40904 Bad debt 40226 40226 Student life 21545 21309 236 41536 41536 6595129 5437207 1157922 0 4288 38516 124569 495145 729543 655460 239686 115060 127834 1871 2141 72303 68610 409396 242133 108001 167263 321763 363682 0 428 1729858 1906305 203002 155142 258044 96126 70000 249892 86728 780938 337996 X 257410 912849 691510 655460 948920 1568309 1729858 1906305 713091 -93702 0 X 0 1 X 1 1 1 X 1343941 1539208 616014 308758 1127728 4935649 1343941 1539208 616014 308758 1127728 4935649 2915442 2020207 4 14613 14617 5527 11133 43435 13513 31692 105300 5055566 21225429 0.39960 X Schedule A, Part II, Line 10, Explanation of Other Income: Event fees - 2016 Amount: $ 4,500. 2017 Amount: $ 12,773. 2018 Amount: $ 24,544. 2019 Amount: $ 2,200. Other income - 2016 Amount: $ 1,027. 2017 Amount: $ -1,640. 2018 Amount: $ 18,891. 2019 Amount: $ 11,313. 2020 Amount: $ 31,692. Schedule A, Part II: The organization is a school as described under 170(b)(1)(A)(ii) and is not required to complete a public support schedule. Schedule A, Part II is completed to verify the School can qualify under public charity status section 170(b)(1)(A)(vi) and, therefore, qualifies to use the first listed special rule for Schedule B reporting. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 186379 153879 32500 223017 88254 134763 167263 Student notes receivable 363682 C 363682 4944897 5730 5730 4939167 2369053 2369053 7308220 4231806 5730 5730 4226076 2369053 2369053 6595129 Part XI, Line 2d - Other Adjustments: Rental expenses 5,730. Part XI, Line 4b - Other Adjustments: Scholarships netted against revenue 2,369,053. Part XII, Line 2d - Other Adjustments: Rental expenses 5,730. Part XII, Line 4b - Other Adjustments: Scholarships netted against revenue 2,369,053. 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 organization currently enrolls students of racial minority groups in meaningful numbers consistent with the publicity exception found in Rev. Proc. 75-50 section 4.03(2)(b). The University has updated its website to be in full compliance with the Rev. Proc. 2019-22 standards in order to check yes to Line 3 on future Form 990's without relying on one of the exceptions. Schedule E, Part I, Line 6 Federal financial aid funds are received from the U.S. Department of Education under Title IV of the Higher Education Act. The grants are provided to USK to award student assistance under the following programs: Federal Work Study (FWS) and Supplemental Educational Opportunity Grant (SEOG). During 2020, USK applied for and received the Higher Education Emergency Relief Fund (HEERF) and Payroll Protection Plan (PPP) grants to provide emergency financial aid grants to students for expenses related to the disruption of campus operations due to the coronavirus (COVID-19) outbreak. USK also used the funds to reimburse themselves for refunds of room and board as well as supplies needed due to the impact of COVID-19, thus meeting the conditions of the grant. 1 HEERF 140 123469 Scholarships 284 2369053 Part I, Line 2: University of Saint Katherine awards financial aid grants to students in accordance with the University's institutional financial aid policies. All scholarships are awarded to current students of the institution, thus enabling the institution to track their academic performance and use of all scholarship funds. Academic awards to new students are based on test scores and GPA. Scholarships funds are directly applied to the student accounts, with no cash changing hands. Saba Saba Family Trust 35% controlled entity of Saba Saba, board Secretary 110340 Rent 0 Form 990, Part VI, Section A, line 1 The organization has an Executive Committee made up of the board Chair, board Secreatry and 1 additional board member. The Executive Committee has the broad authority to act on behalf of the full board. Form 990, Part VI, Section A, line 2 Angelo Georggin (trustee) and Despina Georggin (trustee) have a family relationship. Daniel Braun (Board Chair) and Tom Braun (trustee) have a family relationship. Form 990, Part VI, Section B, line 11b The Form 990 is prepared by an independent CPA firm and is reviewed in detail by the CFO and President. A copy of the Form 990 is provided to the organization's governing body before it is filed with the Internal Revenue Service. Form 990, Part VI, Section B, line 12c Board members and officers sign an annual conflict of interest policy. The signed statements are reviewed by the President as well as the Audit and Finance Committee chair. If a confict arises, then it is addressed by the board and actions are executed accordingly. Any board member or officer with a conflict would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship. Form 990, Part VI, Section B, line 15 The compensation arrangements are approved in advance by an authorized body of the organization composed entirely of individuals who do not have a conflict of interest with respect to the compensation arrangement. The authorized body obtained and relied upon appropriate comparability data prior to making its determination. The authorized body adequately documented the basis for its determination concurrently with making that determination, including the voting record. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy, and financial statements are available upon request.