2021-04-26T07:34:42-05:00 2020-06-30 390859910 BAKER TILLY US LLP 1570 FRUITVILLE PIKE SUITE 400 LANCASTER PA 17601 990 2019-07-01 231365966 ROSEMONT COLLEGE ROSE 6105270200 1400 MONTGOMERY AVENUE ROSEMONT PA 190101699 MARTY MEHRINGER VP FINANCE & ADMINISTRATION 6105270200 2021-04-15 1 KERRI N BOGDA CPA P00760402 7177404863 2019 2022-09-23 18:48:47Z MARTY MEHRINGER 1400 MONTGOMERY AVENUE ROSEMONT PA 190101699 25381287 0 X WWW.ROSEMONT.EDU X 1921 PA ROSEMONT COLLEGE IS A COMMUNITY OF LEARNERS DEDICATED TO EXCELLENCE & JOY IN PURSUIT OF KNOWLEDGE. 21 21 566 26 0 0 3756808 4624801 18518477 16072385 797357 848859 246997 652393 23319639 22198438 4673745 5106328 0 0 9565180 9893634 74645 59375 573235 8863116 9314685 23176686 24374022 142953 -2175584 50747116 55101229 16838768 23270693 33908348 31830536 X ROSEMONT COLLEGE IS A COMMUNITY OF LEARNERS DEDICATED TO EXCELLENCE AND JOY IN THE PURSUIT OF KNOWLEDGE. CONTINUED ON SCHEDULE O.ROSEMONT COLLEGE SEEKS TO DEVELOP IN ALL MEMBERS OF THE COMMUNITY OPEN AND CRITICAL MINDS, AS WELL AS THE ABILITY TO MAKE REASONED MORAL DECISIONS. ROOTED IN CATHOLICISM, AND GUIDED BY THE EDUCATIONAL PRINCIPLES OF CORNELIA CONNELLY AND THE SOCIETY OF THE HOLY CHILD JESUS, ROSEMONT COLLEGE VALUES: TRUST IN AND REVERENCE FOR THE DIGNITY OF EACH PERSON, DIVERSITY IN HUMAN CULTURE AND EXPERIENCE, AND PERSISTENCE AND COURAGE IN PROMOTING JUSTICE WITH COMPASSION. 0 0 15656295 5106328 16072385 ROSEMONT COLLEGE WAS FOUNDED IN 1921 AND IS LOCATED IN SUBURBAN PHILADELPHIA. TOTAL STUDENT ENROLLMENT IS 958 WITH A STUDENT-TEACHER RATIO OF 12:1 AND AN AVERAGE CLASS SIZE OF 12. THERE ARE THREE SCHOOLS: THE UNDERGRADUATE COLLEGE, THE SCHOOL OF GRADUATE STUDIES, AND THE SCHOOL OF PROFESSIONAL STUDIES. THE UNDERGRADUATE COLLEGE OFFERS A NUMBER OF MAJORS AND ACADEMIC PROGRAMS AWARDING BACHELOR OF ARTS, BACHELOR OF FINE ARTS, AND BACHELOR OF SCIENCE DEGREES. EACH PROGRAM OFFERS AN IN-DEPTH STUDY OF A PARTICULAR SUBJECT AREA AS WELL AS A BREADTH OF STUDY IN THE LIBERAL ARTS.CONTINUED ON SCHEDULE O.THE SCHOOL OF GRADUATE STUDIES OFFERS GRADUATE PROGRAMS THAT AWARD THE MASTER OF BUSINESS ADMINISTRATION, MASTER OF SCIENCE IN MANAGEMENT, MASTER OF ARTS, MASTER OF FINE ARTS, AND THE MASTER OF EDUCATION DEGREES. THE SCHOOL OF PROFESSIONAL STUDIES OFFERS ACCELERATED DEGREE PROGRAMS, CERTIFICATES, AND CORPORATE TRAINING. THE ACADEMIC FOCUS OF THE ACCELERATED DEGREE PROGRAMS IS ON RELEVANT AND PRACTICAL KNOWLEDGE AND TECHNIQUES. SMALL CLASS SIZE AND A SEMINAR ATMOSPHERE COMPLEMENT THE LEARNING EXPERIENCE.GENERAL EDUCATION SCHOLARSHIPS AND FEDERAL AND STATE GRANTS AND SCHOLARSHIPS ARE AWARDED TO STUDENTS. DURING THE YEARS ENDED JUNE 30, 2020 AND 2019, THE COLLEGE PROVIDED STUDENT FINANCIAL AID FROM INTERNAL RESOURCES OF APPROXIMATELY $3,800,000. 15656295 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 29 0 1 566 1 0 0 0 0 0 0 0 0 0 0 0 0 X 21 21 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 PA X MARTY MEHRINGER VP FINANCE ADMIN 6105270200 1400 MONTGOMERY AVENUE ROSEMONT PA 190101699 SHARON LATCHAW HIRSH PHD PRESIDENT (UNTIL 5/31/20) 60.00 X 333379 0 22509 RANDY L ELDRIDGE DBA CPA VP FINANCE & ADMIN (UNTIL 9/20) 40.00 X 150200 0 19019 LISA DOLLING VP ACAD AFFAIRS/PROVOST (UNTIL 9/20) 40.00 X 171669 0 6040 CHRISTYN MORAN VP COLLEGE RELATIONS 40.00 X 107786 0 17205 MARIA A FEELEY JD CHAIR 5.00 X X 0 0 0 KATHLEEN TRAINOR VICE CHAIR 1.00 X X 0 0 0 SEAN H FITZPATRICK TREASURER 1.00 X X 0 0 0 ANN MARSHALL SECRETARY 1.00 X X 0 0 0 KAMIL ALI-JACKSON TRUSTEE 1.00 X 0 0 0 GEORGE DOEHNER TRUSTEE 1.00 X 0 0 0 PETER DOONER TRUSTEE 1.00 X 0 0 0 MARGARET DOYLE SHCJ TRUSTEE 1.00 X 0 0 0 VARSOVIA FERNANDEZ TRUSTEE 1.00 X 0 0 0 CARROLL JULIANO SHCJ TRUSTEE 1.00 X 0 0 0 SANDRA LINCOLN SHCJ TRUSTEE 1.00 X 0 0 0 LORINA MARSHALL-BLAKE TRUSTEE 1.00 X 0 0 0 EILEEN MCDEVITT SHCJ TRUSTEE 1.00 X 0 0 0 ROSEANNE MCDOUGALL SHCJ EDD TRUSTEE 1.00 X 0 0 0 EILEEN MCMONAGLE TRUSTEE 1.00 X 0 0 0 SUZANNE K MURPHY PHD TRUSTEE 1.00 X 0 0 0 MAUREEN O'CONNELL PHD TRUSTEE 1.00 X 0 0 0 JAMES SCHULTZ TRUSTEE 1.00 X 0 0 0 MARIA SICHOL SHCJ TRUSTEE 1.00 X 0 0 0 CLARE F MACKIE TRUSTEE (UNTIL 6/30/20) 1.00 X 0 0 0 ROBERT J MASSA PHD TRUSTEE (UNTIL 6/30/20) 1.00 X 0 0 0 JAYSON BOYERS PHD PRESIDENT (AS OF 6/1/20) 60.00 X 0 0 0 763034 0 64773 4 0 1 0 PARKHURST DINING SERVICES 285 E WATERFRONT DRIVE HOMESTEAD PA 15120 FOOD SERVICE 855837 ARAMARK MANAGEMENT SERVICE LP 1101 MARKET STREET PHILADELPHIA PA 19107 FACILITIES MANAGEMENT 637021 HAVERFORD SYSTEMS 152 ROBBINS ROAD DOWNINGTON PA 19335 AUDIO VISUAL 240271 PA MEDIA GROUP P O BOX 77000/DEPT 77571 DETROIT MI 482770571 MARKETING 232650 JENZABAR-HARRISONBURG P O BOX 55018 BOSTON MA 02205 DATABASE 217803 7 2830017 1794784 82186 4624801 STUDENT TUITION AND FEES 611710 13196039 13196039 ROOM AND BOARD-STUDENTS 721310 2876346 2876346 16072385 546854 546854 209033 13323 195710 195710 195710 3471531 3169526 302005 302005 302005 BAD DEBT RECOVERY 900099 216115 216115 PAYROLL EXPENSES REIMBURSEMENT 900099 145796 145796 COMMISSIONS 900099 10737 10737 84035 84035 456683 22198438 16072385 0 1501252 5106328 5106328 510418 346011 140806 23601 7250347 4914993 2000107 335247 339082 229863 93540 15679 1199908 813415 331011 55482 593879 402589 163830 27460 3855 3855 112566 112566 59375 59375 136545 136545 1128397 348537 779860 608873 608873 572494 405324 156864 10306 929042 45893 883149 615840 306496 309344 88644 79375 9228 41 26902 2741 10212 13949 524437 524437 1397767 1397767 213649 213649 FOOD 1004057 1004057 OTHER PROGRAM COSTS 939675 652016 255564 32095 REPAIRS & MAINTENANCE 361533 138901 222632 ATHLETICS 150952 150952 499457 184367 315090 24374022 15656295 8144492 573235 1262910 2154815 750468 750810 1297377 1983389 1835986 1576777 90667 1037913 404407 58148586 29133184 22387212 29015402 19787857 17483160 237401 151874 2149992 1489928 50747116 55101229 3706627 2112535 1870199 2156434 5460231 5196819 5542427 8949537 0 3810200 259284 1045168 16838768 23270693 X 16741998 8947765 17166350 22882771 33908348 31830536 50747116 55101229 X -2175584 462878 -327678 -37428 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19572863 26564 1142287 1319524 2150000 17272190 18683080 621417 1098309 829943 19572863 18789132 322366 1182880 896152 715146 18683080 16293747 918730 1840817 842385 -578223 18789132 15392620 3081975 -980296 1200552 16293747 0.05370 0.94630 0.00000 0 0 352332 352332 49830415 21727020 28103395 7405741 7010041 395700 560098 396123 163975 29015402 CAPITAL LEASE PAYABLE 941691 REFUNDABLE ADVANCES 103477 1045168 X 18099822 462878 -4358702 -3895824 21995646 202792 202792 22198438 19849956 -202792 -202792 20052748 4321274 4321274 24374022 PART V, LINE 4: THE COLLEGE'S ENDOWMENT FUND CONSISTS OF APPROXIMATELY 65 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. IT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. THE COLLEGE HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. PART X, LINE 2: THE COLLEGE ACCOUNTS 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. THE COLLEGE DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID NETTED AGAINST REVENUE ON FINANCIALS -3,829,230. INVESTMENT EXPENSES NETTED AGAINST REVENUE ON FINANCIALS -136,545. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -33,058. CHANGE IN VALUATION OF CHARITABLE GIFT ANNUITY -4,370. CARES ACT INSTITUTIONAL PORTION EXPENSES NETTED AGAINST GRANTS ON FINANCIAL -355,499. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -13,323. BAD DEBT RECOVERY NETTED AGAINST EXPENSES ON FINANCIALS 216,115. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 13,323. BAD DEBT RECOVERY NETTED AGAINST EXPENSES ON FINANCIALS -216,115. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED AGAINST REVENUE ON FINANCIALS 3,829,230. INVESTMENT EXPENSES NETTED AGAINST REVENUE ON FINANCIALS 136,545. CARES ACT INSTITUTIONAL PORTION EXPENSES NETTED AGAINST GRANTS ON FINANCIAL 355,499. 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 RACIALLY NON-DISCRIMINATORY POLICY IS CLEARLY STATED IN ROSEMONT COLLEGE'S PUBLICATIONS AS WELL AS THEIR COURSE CATALOG AND REGISTRATION MATERIAL. SCHEDULE E, PART I, LINE 6 ROSEMONT RECEIVES A VARIETY OF FEDERAL AND STATE GRANTS, RELATED TO STUDENT AID OR PROGRAM SUBSISTENCE. X X X X X X X 1 PACESETTERS INC 759 ROBLE ROAD ALLENTOWN PA 18109 MANAGEMENT OF MAIL/EMAIL AND EXPERIENCE FUND SOLICITATIONS 0 2805259 59375 2745884 2805259 59375 2745884 PA 1 FINANCIAL ASSISTANCE & SCHOLARSHIPS 766 3829230 0 N/A N/A ENDOWED SCHOLARSHIPS 317 950561 0 N/A N/A HEERF CARES ACT STUDENT GRANT 216 326537 0 N/A N/A PART I, LINE 2: ALL STUDENTS APPLYING FOR FEDERAL FUNDS ARE REQUIRED TO SUBMIT THE FREE APPLICATION FOR FEDERAL STUDENT AID ("FAFSA"). THE OFFICE REVIEWS THE RESULTS OF THE FAFSA, WHICH DICTATES WHAT AND HOW MUCH FEDERAL FUNDING THE INDIVIDUAL STUDENT IS ELIGIBLE FOR. IF THE STUDENT IS DETERMINED TO BE IN COMPLIANCE WITH ALL FEDERAL REGULATIONS, AS DETERMINED BY THE DEPARTMENT OF EDUCATION, THE AID OFFICE AWARDS THE STUDENT THE APPROPRIATE FUNDING. STUDENT FILES REGARDING ELIGIBILITY ARE MAINTAINED BY THE STUDENT FINANCIAL AID OFFICE. X 1 1 X X X 0 0 0 0 0 0 0 0 0 SHARON LATCHAW HIRSH PHD PRESIDENT (UNTIL 5/31/20) 297379 0 0 0 36000 0 9090 0 13419 0 355888 0 0 0 RANDY L ELDRIDGE DBA CPA VP FINANCE & ADMIN (UNTIL 9/20) 150200 0 0 0 0 0 5600 0 13419 0 169219 0 0 0 LISA DOLLING VP ACAD AFFAIRS/PROVOST (UNTIL 9/20) 171669 0 0 0 0 0 6040 0 0 0 177709 0 0 0 PART I, LINE 1A THE PRESIDENT RECEIVES A MONTHLY HOUSING ALLOWANCE AND IS REQUIRED TO RESIDE IN OR NEAR ROSEMONT, PA. THE ALLOWANCE IS INCLUDED IN THE PRESIDENT'S TAXABLE INCOME AND AMOUNTED TO $36,000 FOR THE YEAR. A EAST NORRITON TOWNSHIP INDUSTRIAL DEVELOPMENT AUTHORITY 300188402 2012-09-04 7400000 TO REFUND 2004 BONDS AND FUND ISSUANCE COSTS 0 0 0 A 1891027 7400000 147646 7252357 2012 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 0 0 0 0 1 A 1 SCHEDULE K, PART I, BOND ISSUES: (A) ISSUER NAME: EAST NORRITON TOWNSHIP INDUSTRIAL DEVELOPMENT AUTHORITY (F) DESCRIPTION OF PURPOSE: TO REFUND 2004 BONDS AND FUND ISSUANCE COSTS X 4 82186 CLOSING COST 0 1 1 PART I, COLUMN (B): THE NUMBER IN COLUMN (B) REPRESENTS THE TOTAL NUMBER OF CONTRIBUTORS. PART I, LINE 32B: STOCK DONATIONS ARE TRANSFERRED TO A STOCK DONATION ACCOUNT IN THE NAME OF THE COLLEGE. THE STOCKS ARE THEN SOLD AND THE PROCEEDS ARE TRANSFERRED TO THE COLLEGE'S CASH ACCOUNT. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE IS COMPRISED OF THE BOARD OFFICERS, THE CHAIRS OF THE BOARD'S STANDING COMMITTEES, AND THE PRESIDENT OF THE COLLEGE (EX-OFICIO). THE COMMITTEE MAY ACT FOR THE BOARD ON ALL MATTERS EXCEPT: HIRING OR TERMINATION OF THE PRESIDENT, CHANGE IN INSTITUTIONAL MISSION OR PURPOSE, OR CHANGE IN THE INSTITUTIONAL CHARTER OR ARTICLES OF INCORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THE TAX FILING WAS PREPARED BY THE ORGANIZATION'S PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY THE FINANCE AREA. ONCE A DRAFT IS AVAILABLE, IT IS REVIEWED BY EXECUTIVE LEADERSHIP. BEFORE IT IS FINALIZED AND FILED WITH THE IRS, THE COMPLETE FORM 990 PUBLIC DISCLOSURE COPY WAS PROVIDED TO THE PRESIDENT AND MEMBERS OF THE BOARD OF TRUSTEES FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C THE MEMBERS OF THE BOARD OF TRUSTEES ARE REQUIRED TO ANNUALLY DISCLOSE TO THE BOARD CHAIR ANY CONFLICTS OR POTENTIAL CONFLICTS OF INTEREST. FACULTY, ADMINISTRATION, AND STAFF ARE REQUIRED TO DISCLOSE ANY CONFLICTS OR POTENTIAL CONFLICTS OF INTEREST TO THEIR DEAN OR SUPERVISOR. VIOLATIONS OF THE POLICY ARE HANDLED IN ACCORDANCE WITH THE COLLEGE'S DOCUMENTED DISCIPLINARY PROCEDURES. THE PRESIDENT, PROVOST, AND VICE PRESIDENT FOR FINANCE AND ADMINISTRATION ARE JOINTLY RESPONSIBLE FOR MONITORING AND ENFORCING THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 TOP MANAGEMENT OFFICIAL AND ALL OFFICER POSITIONS ARE CLASSIFIED AND PAID ACCORDING TO A UNIFORM INTERNALLY-MAINTAINED SCHEDULE. BECAUSE OF BUDGET CONSTRAINTS, MOST ARE PAID BELOW NATIONAL SALARY AVERAGES OF COMPARATIVE RELIGIOUS COLLEGES/UNIVERSITIES ROSEMONT USES CUPA-HR DATA TO VALIDATE SALARY OFFERS TO ENSURE COMPENSATION DOES NOT EXCEED FMV. THIS PROCESS LAST UNDERTAKEN IN 2016. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -33,058. CHANGE IN VALUATION OF CHARITABLE GIFT ANNUITY -4,370.