2021-03-22T12:41:01-05:00 2020-06-30 271728945 PKF O'CONNOR DAVIES LLP 300 TICE BOULEVARD SUITE 315 WOODCLIFF LAKE NJ 07677 990 2019-07-01 221500484 CENTENARY UNIVERSITY CENT 9088521400 400 JEFFERSON STREET HACKETTSTOWN NJ 07840 DENTON L STARGEL VP BUSINESS & FINANCE/CFO 9088521400 2021-03-22 1 GARRETT M HIGGINS P00543209 2017129800 2021-03-22 2019 2022-09-23 18:48:47Z BRUCE T MURPHY 400 JEFFERSON STREET HACKETTSTOWN NJ 07840 62749301 0 X WWW.CENTENARYUNIVERSITY.EDU X 1867 NJ CENTENARY UNIVERSITY DELIVERS ACCREDITED DEGREE PROGRAMS AND COMPREHENSIVE LEARNING EXPERIENCES TO PREPARE STUDENTS FOR REGIONAL AND GLOBAL PROFESSIONS OF CRITICAL THOUGHT AND PURPOSEFUL ACTION WITHIN A SUPPORTIVE ENVIRONMENT IMMERSED IN A CULTURE OF SERVICE. 22 22 887 48 284966 0 2241168 8903877 50955585 48036781 47355 81244 2022247 738555 55266355 57760457 20197432 19940151 0 0 19834127 17325645 0 0 476470 18982031 16552201 59013590 53817997 -3747235 3942460 36912471 32681476 47128821 39317936 -10216350 -6636460 X CENTENARY UNIVERSITY IS AN INCLUSIVE AND COLLABORATIVE LEARNING COMMUNITY DEDICATED TO PREPARING ITS STUDENTS TO ENTER SOCIETY AS PROFESSIONAL AND GLOBAL CITIZENS. WE PROVIDE EXPERIENCES THAT FOSTER SKILLS OF CRITICAL THOUGHT AND PURPOSEFUL ACTION. THE CENTENARY EXPERIENCE IS DISTINGUISHED BY A FUNDAMENTAL BELIEF IN THE FULL POTENTIAL OF EACH STUDENT, A STRONG LIBERAL ARTS FOUNDATION, CAREER PREPARATION, AND A CULTURE OF SERVICE TO THE COMMUNITY AND TO THE WORLD. 0 0 40493265 19940151 42666324 INSTRUCTIONAL: CENTENARY UNIVERSITY IS A COMMUNITY OF LEARNERS DISTINGUISHED BY A DIVERSE STUDENT BODY, A DEDICATED FACULTY AND STAFF AND STIMULATING EDUCATION OPPORTUNITIES. THE UNIVERSITY IS COMMITTED TO QUALITY LIBERAL ARTS AND CAREER STUDIES EDUCATION TO ENGAGE STUDENTS IN LEARNING AND PREPARE THEM FOR A SATISFYING CAREER, SUCCESSFUL LIVES, COMMUNITY SERVICE AND LIFELONG INTELLECTUAL PURSUITS. AS THE PRIMARY EDUCATIONAL AND CULTURAL RESOURCE OF NORTHWEST NEW JERSEY, CENTENARY OFFERS A RANGE OF UNDERGRADUATE, GRADUATE AND DOCTORATE PROGRAMS, AS WELL AS NON-DEGREE COURSES FOR PROFESSIONAL AND PERSONAL DEVELOPMENT. 8765428 5370457 AUXILIARY SERVICES AT CENTENARY UNIVERSITY ARE ORGANIZED TO SUPPORT STUDENT ACTIVITIES AND PROVIDE STUDENT HOUSING AND OTHER FACILITIES AND SERVICE FOR THE BENEFIT OF THE CENTENARY UNIVERSITY STUDENTS. UNIVERSITY DORMITORIES CONSIST OF 8 RESIDENCE HALLS AND PROVIDE LVING QUARTERS FOR APPROXIMATELY 600 STUDENTS. AUXILIARY SERVICES ALSO PROVIDE RECREATIONAL FACILITES, DINING SERVICES, PARKING, AND OTHER STUDENT SERVICES. 49258693 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 167 0 887 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NJ NY FL MD X DENTON L STARGEL CFO 9088521400 400 JEFFERSON STREET HACKETTSTOWN NJ 07840 DAVID HANEY FORMER PRESIDENT 0.00 X 299010 0 0 DENTON STARGEL VP BUSI & FIN/CFO 35.00 1.00 X 191925 0 15688 AMY D'OLIVO VP ACADEMIC AFF/CAO 35.00 X 138283 0 25330 ROBERT MILLER VP ENROLLMENT MGMT 35.00 X 138278 0 17997 BARBARA LEWTHWAITE PRES. EMERITUS/PROF OF BUS 35.00 X 147384 0 7166 LINDA PEPE CONTROLLER 35.00 X 110998 0 42225 KERRY MULLINS-MONTANE VP FOR STUDENT LIFE/DEAN O 35.00 X 124176 0 27765 ROSALIND REICHARD PRESIDENT THRU 12/31/2019 35.00 1.00 X 108824 0 25656 DR BRUCE MURPHY PRESIDENT, EFF. 1/1/2020 35.00 1.00 X 0 0 0 WOLFGANG GSTATTENBAUER CHAIRMAN 6.00 1.00 X X 0 0 0 KENNETH LEE HAHN 1ST VICE CHAIR 6.00 X X 0 0 0 NORMAN WORTH 2ND VICE CHAIR 6.00 X X 0 0 0 ROCHELLE MAKELA GOODMAN 3RD VICE CHAIR 6.00 X X 0 0 0 DAVID JOHNSON TREASURER 3.00 1.00 X X 0 0 0 LUCINDA THOMAS EMBERSITS SECRETARY 6.00 X X 0 0 0 SUSAN BATEMAN ESQ TRUSTEE 3.00 X 0 0 0 AUDREY BONAPARTE-WATTS TRUSTEE 3.00 X 0 0 0 DENISE BLASEVICK TRUSTEE 3.00 X 0 0 0 DR HOWARD L BURRELL TRUSTEE 3.00 X 0 0 0 DR STANLEY CAINE TRUSTEE 3.00 X 0 0 0 MICHAEL T CATAPANO TRUSTEE 3.00 1.00 X 0 0 0 DAVID D DALLAS TRUSTEE 3.00 X 0 0 0 REV DR FRANK L FOWLER III TRUSTEE 3.00 X 0 0 0 MICHAEL B LAVERY ESQ TRUSTEE 3.00 X 0 0 0 MERRI MILLMAN TRUSTEE 3.00 X 0 0 0 RAY NISIVOCCIA TRUSTEE 3.00 X 0 0 0 BISHOP JOHN R SCHOL TRUSTEE 3.00 X 0 0 0 ALDEN SIEGEL TRUSTEE 3.00 X 0 0 0 LINDA VAN WINKLE WATKINS TRUSTEE 3.00 X 0 0 0 NANCY PAFFENDORF TRUSTEE 3.00 X 0 0 0 DR EDWARD YAW TRUSTEE 3.00 X 0 0 0 1258878 0 161827 9 1 1 0 SODEXO INC & AFFILIATES 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 02878 FOOD SERVICE 1822834 NATIONAL MANAGEMENT RESOURCES PO BOX 1224 LAGRANGE GA 30241 MAINTENANCE SERVICES 1617204 THE LANDTEK GROUP INC 105 SWEENEYDALE AVE BAY SHORE NY 11706 CONSTRUCTION SERVICES 1610988 ELLUCIAN COMPANY LP 4375 FAIR LAKES CT FAIRFAX VA 22033 INFORMATION TECH SERVICES 1521874 COMPASS GROUP NORTH AMERICA 2400 YORKMONT RD CHARLOTTE NC 28217 FOOD SERVICE 1470935 14 4405291 4498586 438614 8903877 TUITION 611600 42666324 42666324 ROOM AND BOARD 611600 4860594 4860594 AUXILIARY INCOME 611600 509863 509863 48036781 29369 29369 125068 124758 310 310 310 3745961 1170000 3720402 1143684 25559 26316 51875 51875 OTHER REVENUE 900099 367205 367205 SUMMER YOUTH CAMP 611600 284966 284966 PERKINS LIQUIDATION REFUND 900099 86074 86074 738245 57760457 48036781 284966 534833 19940151 19940151 485786 485786 13926182 12558237 1085535 282410 1305058 1089362 192485 23211 1608619 943696 644953 19970 204632 204632 125828 125828 7064 7064 1139125 718331 339410 81384 1860322 1857423 2899 960914 788897 142431 29586 1962237 1626558 296763 38916 26877 26877 3883756 3700475 183281 220450 214390 6060 24431 18334 6097 275163 261955 13208 2018594 1921912 96682 116330 86994 29336 FOOD SERVICE 1948568 1946364 1301 903 EQUINE CENTER EXPENSE 658003 658003 MISCELLANEOUS EXPENSES 349598 141433 208165 REPAIRS AND MAINTENANCE 298273 288190 10083 472036 471111 835 90 53817997 49258693 4082834 476470 876382 253658 1557470 1386318 1371456 3297558 1660944 1745512 963016 18910 8597 629439 481474 25832134 12641950 17614857 13190184 11458067 11528449 761930 789726 36912471 32681476 4098097 2057270 2113041 2512234 168250 97222 137129 124425 4250000 2500000 3532942 2715554 32829362 29311231 47128821 39317936 X -17514977 -16065656 7298627 9429196 -10216350 -6636460 36912471 32681476 X 3942460 408319 -770889 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 9338560 1465944 375831 457488 10722847 13852131 428626 352911 730438 4564670 9338560 12242600 611997 1400190 402656 13852131 10727935 526577 1516140 528052 12242600 10603214 723925 -192385 406819 10727935 0.37150 0.54430 0.08420 0 0 248900 248900 7257791 1768273 5489518 530049 216793 313256 8229744 6583874 1645870 9565650 4073010 5492640 13190184 CHARITABLE GIFT ANNUITY LIAB. 358998 DUE TO CENTENARY EQUESTRIAN FOUNDATION 28812984 PAYROLL PROTECTION PROGRAM LOAN 139249 29311231 X 39735854 408319 1124758 1533077 38202777 19557680 19557680 57760457 38214990 3928357 3928357 34286633 19531364 19531364 53817997 PART IV, LINE 2B: AN AGENCY ACCOUNT IS USED TO ACCOUNT FOR RESOURCES HELD BY THE UNIVERSITY, AS CUSTODIAN OR FISCAL AGENT, FOR A STUDENT, FACULTY OR STAFF ORGANIZATION. THE MOST COMMON TYPE OF AGENCY ACCOUNT IS A DEPOSITORY ACCOUNT WHERE A STUDENT WILL LEAVE ON DEPOSIT OF A CERTAIN SUM OF MONEY THAT WILL BE RETURNED IF THERE IS NO DAMAGE TO HIS OR HER ROOM. ANOTHER COMMON TYPE OF ACCOUNT IS A STUDENT ORGANIZATION ACCOUNT FOR WHICH THE UNIVERSITY PROCESSES DEPOSITS AND AUTHORIZED EXPENDITURES. PART V, LINE 4: THE UNIVERSITY'S ENDOWMENT FUNDS ARE COMPRISED OF BOARD RESTRICTED AND DONOR RESTRICTED FUNDS AND ARE HELD TO SUPPORT THE EDUCATIONAL AND OPERATING PROGRAMS OF THE UNIVERSITY. BOARD RESTRICTED FUNDS ARE INTENDED FOR FUNDING NECESSARY FOR FUTURE COSTS OF THE UNIVERSITY. DONOR RESTRICTED FUNDS ARE INTENDED TO LEAVE THE PRINCIPAL UNTOUCHED, AND ARE USED FOR PURPOSES AS RESTRICTED BY DONORS AND CONSISTENT WITH THE UNIVERSITY'S TAX-EXEMPT STATUS. EARNINGS FROM BOTH FUNDS ARE USED FOR UNIVERSITY OPERATING EXPENSES, INCLUDING INSTRUCTIONAL, ACADEMIC SUPPORT, STUDENT AID, AND OTHER INSTITUTIONAL EXPENSES THAT MAY ARISE. PART X, LINE 2: CENTENARY UNIVERSITY AND THE FOUNDATION ACCOUNT FOR UNCERTAINTIES IN INCOME TAXES IN ACCORDANCE WITH AUTHORITATIVE GUIDANCE, WHICH PRESCRIBES A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS BEEN MET. MANAGEMENT DETERMINED THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD AT JUNE 30, 2020 AND 2019. THE UNIVERSITY IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO 2017. CENTENARY UNIVERSITY AND THE FOUNDATION'S POLICY IS TO RECOGNIZE INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. PART XI, LINE 2D - OTHER ADJUSTMENTS: BAD DEBT RECOVERY 1,000,000. RENTAL EXPENSES REPORTED ON PART VIII, LINE 6B 124,758. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED AGAINST TUITION 19,531,364. GAIN ON SALE OF ASSETS 26,316. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES IN CONSOLIDATED FINANCIALS ATTRIBUTABLE TO CENTENARY EQUESTRIAN FDN 3,569,831. RENTAL EXPENSES REPORTED ON PART VIII, LINE 6B 124,758. LOSS ON DECEASED HORSES 260,084. GAIN ON SALE OF ASSETS -26,316. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED AGAINST TUITION 19,531,364. 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 SCHOOL PUBLICIZES ITS RACIALLY NONDISCRIMINATORY STATEMENT ON ITS WEBSITE, IN ALL HANDBOOKS AND LITERATURE DISTRIBUTED. SCHEDULE E, PART I, LINE 6 CENTENARY UNIVERSITY RECEIVES FINANCIAL AID FROM VARIOUS GOVERNMENTAL SOURCES INCLUDING PELL GRANTS AND FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS. 1 CARES ACT STUDENT AWARDS 877 408787 FINANCIAL AID 1334 19531364 PART I, LINE 2: THE INSTITUTION MONITORS, PROCESSES, RECONCILES, AND ADMINISTERS ITS AID PROGRAMS THROUGH A SHARED APPROACH. PROGRAM ADMINISTRATION IS THE MAIN RESPONSIBILITY OF THE UNIVERSITY'S FINANCIAL AID OFFICE; THE UNIVERSITY'S CONTROLLER'S OFFICE HANDLES THE FISCAL DUTIES, WHICH INCLUDE REQUESTING CASH DRAWS FROM THE DEPARTMENT OF EDUCATION GRANT MANAGEMENT SYSTEM, TRACKING FEDERAL AUTHORIZATIONS, DETERMINING MATCHING REQUIREMENTS, AND PERFORMING RECONCILIATIONS. THE STUDENT BILLING OFFICE APPLIES PAYMENTS TO STUDENTS' ACCOUNTS. THIS SHARED APPROACH ALLOWS FOR SEGREGATION OF DUTIES BETWEEN THE DETERMINATION OF AWARDS AND PROCESSING PAYMENTS AND ALLOWS THE UNIVERSITY TO VERIFY THAT THE FUNDS ARE BEING USED FOR THEIR INTENDED PURPOSE. CARES ACT AWARDS - STUDENT MAY REQUEST FUNDS BASED ON ANY NEED RESULTING FROM THE IMPACT OF COVID-19. THE REQUEST IS REVIEWED BY AN INDEPENDENT COMMITTEE. IF APPROVED, THE COMMITTEE NOTIFIES THE FINANCIAL AID DEPARTMENT, WHO RECORDS THE AWARD ON THE STUDENTS' ACCOUNT. AMOUNTS ARE DISASTER RELIEF PAYMENTS TO REIMBURSE OR PAY FOR REASONABLE AND NECESSARY PERSONAL, FAMILY, LIVING, OR FUNERAL EXPENSES INCURRED AS A RESULT OF COVID-19. X X 1 0 X X X X 1 0 0 0 0 0 0 0 0 DAVID HANEY FORMER PRESIDENT 0 0 0 0 299010 0 0 0 0 0 299010 0 0 0 DENTON STARGEL VP BUSI & FIN/CFO 191925 0 0 0 0 0 3465 0 12223 0 207613 0 0 0 AMY D'OLIVO VP ACADEMIC AFF/CAO 138283 0 0 0 0 0 2450 0 22880 0 163613 0 0 0 ROBERT MILLER VP ENROLLMENT MGMT 138278 0 0 0 0 0 2428 0 15569 0 156275 0 0 0 BARBARA LEWTHWAITE PRES. EMERITUS/PROF OF BUS 147384 0 0 0 0 0 2625 0 4541 0 154550 0 0 0 LINDA PEPE CONTROLLER 110998 0 0 0 0 0 9375 0 32850 0 153223 0 0 0 KERRY MULLINS-MONTANE VP FOR STUDENT LIFE/DEAN O 124176 0 0 0 0 0 1563 0 26202 0 151941 0 0 0 PART I, LINE 1A THE PRESIDENT AND VICE PRESIDENT OF STUDENT LIFE ARE EACH PROVIDED USE OF A HOUSE OWNED BY THE UNIVERSITY. SERVICES RELATED TO THE HOMES ARE PROVIDED BY THE UNIVERSITY. THESE BENEFITS WERE NOT TREATED AS TAXABLE COMPENSATION TO THEM, AS THEY ARE PROVIDED AS A CONDITION OF THEIR EMPLOYMENT, AND FOR THE CONVENIENCE OF CENTENARY UNIVERSITY. THE HOUSING AND HOUSEKEEPING SERVICES (FOR THE PRESIDENT ONLY) ARE TREATED AS NONTAXABLE BENEFITS AND REPORTED ON SCHEDULE J, PART II, COLUMN D. PART I, LINE 4A IN JANUARY 2019 DAVID HANEY, FORMER PRESIDENT, RECEIVED A SEVERANCE PAYMENT OF $299,010 FROM THE ORGANIZATION. X 5 32864 AVERAGE SELLING PRICE X HORSES 6 405750 APPRAISALS 8 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE AMOUNT OF CONTRIBUTORS ON SCHEDULE M, PART 1, COLUMN B. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED INTERNALLY AND THEN PRESENTED TO THE AUDIT COMMITTEE AND THE BOARD OF TRUSTEES FOR APPROVAL. ALL MEMBERS OF THE BOARD OF TRUSTEES RECEIVE A COMPLETE COPY OF THE FORM 990 TO REVIEW PRIOR TO THE FORM 990'S SUBMISSION TO THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C EACH OFFICER, DIRECTOR, TRUSTEE AND KEY EMPLOYEE IS REQUIRED UPON HIRE, AND ANNUALLY, TO COMPLETE A "CONFLICT OF INTEREST QUESTIONNAIRE". IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE TRUSTEES AND MEMBER OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE GOVERNING BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTES. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FUTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE GOVERNING BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15 THE UNIVERSITY FOLLOWS A PROCESS TO ENSURE THAT EXECUTIVE AND TOP MANAGEMENT COMPENSATION IS REASONABLE. COMPENSATION IS COMPARED TO INDUSTRY STANDARDS, BY POSITION AND FISCAL AND MANAGERIAL RESPONSIBILITIES. PROPOSED COMPENSATION IS PRESENTED TO THE BOARD OF TRUSTEES' COMPENSATION COMMITTEE FOR APPROVAL AND RECOMMENDATION TO THE BOARD OF TRUSTEES FOR FINAL APPROVAL. THE APPROVAL IS DOCUMENTED IN THE MINUTES. MEMBERS OF THE BOARD'S COMPENSATION COMMITTEE ARE INDEPENDENT PERSONS WHO HAVE NO PERSONAL INTEREST IN THE PROPOSED COMPENSATION ARRANGEMENT. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990, AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC REVIEW, UPON REQUEST TO: DENTON L. STARGEL, CFO, 400 JEFFERSON STREET, HACKETTSTOWN, NJ 07840. FORM 990, PART XI, LINE 9: LOSS ON DECEASED HORSES -260,084. REVENUE ATTRIBUTABLE TO CENTENARY EQUESTRIAN FOUNDATION -1,510,805. BAD DEBT RECOVERY 1,000,000. FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE IS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEARS. CENTENARY EQUESTRIAN FOUNDATION 400 JEFFERSON STREET HACKETTSTOWN NJ 07840 475219553 UNIVERSITY REAL ESTATE NJ 501(C)(3) LINE 12A, I CENTENARY UNIVERSITY 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 CENTENARY EQUESTRIAN FOUNDATION K 1510805 ACTUAL CENTENARY EQUESTRIAN FOUNDATION R 2272908 ACTUAL