2020-05-11T07:49:29-05:00 2019-06-30 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 1570 FRUITVILLE PIKE SUITE 400 LANCASTER PA 17601 990 2018-07-01 240804602 KING'S COLLEGE KING 5702085900 133 NORTH RIVER STREET WILKESBARRE PA 18711 JANET KOBYLSKI VP BUSINESS AFFAIRS 5707062394 2020-04-27 1 KERRI N BOGDA CPA P00760402 7177404863 23.130.16.102 2020-04-27 11:28:41 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 6C9B1A35775087DBDB8A6D25ECA509C7F6C27838 2018 2020-09-23 17:36:50Z JOHN J RYAN CSC 133 NORTH RIVER STREET WILKESBARRE PA 18711 111175455 0 X WWW.KINGS.EDU X 1946 PA PROVIDES STUDENTS WITH A LIBERAL ARTS EDUCATION ENABLING THEM TO LEAD MEANINGFUL & SATISFYING LIVES. 36 35 1331 175 133024 0 7944077 6939317 90538332 95977338 5719571 4632638 -17076 -23395 104184904 107525898 32115810 34378501 0 0 38546949 38513907 94568 94568 2008985 22426252 25156453 93183579 98143429 11001325 9382469 221655075 231221358 78152579 79948503 143502496 151272855 X KING'S COLLEGE, A CATHOLIC COLLEGE IN THE HOLY CROSS TRADITION, PROVIDES STUDENTS WITH A BROAD-BASED LIBERAL ARTS EDUCATION WHICH OFFERS THE INTELLECTUAL, MORAL, AND SPIRITUAL PREPARATION THAT ENABLES THEM TO LEAD MEANINGFUL AND SATISFYING LIVES. 0 0 86293563 34378501 95906690 KING'S COLLEGE IS A NOT-FOR-PROFIT EDUCATIONAL INSTITUTION WHICH PROVIDES UNDERGRADUATE, GRADUATE, AND PROFESSIONAL EDUCATION TO ITS STUDENTS. THE COLLEGE WAS FOUNDED IN 1946 AND WELCOMES STUDENTS INTO ITS COMMUNITY WITHOUT REGARD TO GENDER, RACE, RELIGION, DISABILITY, OR NATIONAL ORIGIN AND SEEKS TO ASSIST TALENTED STUDENTS OF MODEST FINANCIAL MEANS.THE COLLEGE HAS APPROXIMATELY 2,400 STUDENTS, OF WHICH 2,000 ARE FULL-TIME UNDERGRADUATES. APPROXIMATELY 90% OF THE COLLEGE'S PRESENT FULL-TIME UNDERGRADUATE STUDENT BODY IS COMPRISED OF RESIDENTS FROM PENNSYLVANIA, NEW YORK, AND NEW JERSEY.CONTINUED ON SCHEDULE O.DURING THE YEAR ENDED JUNE 30, 2019, THE COLLEGE PROVIDED STUDENT FINANCIAL AID FROM INTERNAL RESOURCES OF APPROXIMATELY $33,773,000. 86293563 1 1 0 1 0 0 0 0 0 1 1 1 0 1 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 1 3080 0 1331 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 36 35 1 1 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X X HOLLY KULP CPA 5702085837 133 NORTH RIVER STREET WILKESBARRE PA 18711 MR THOMAS R SMITH CHAIR 3.00 X X 0 0 0 MS KATHLEEN MCCARTHY LAMBERT VICE CHAIR 3.00 X X 0 0 0 MRS KAREN KEEFER SECRETARY 3.00 X X 0 0 0 MR RICHARD A ALLEY MD DIRECTOR 1.00 X 0 0 0 MR THOMAS P CURRAN MD DIRECTOR 1.00 X 0 0 0 REV JOHN F DENNING CSC DIRECTOR 1.00 X 0 0 0 MR BRENDAN P DOUGHER DIRECTOR 1.00 X 0 0 0 MR JOHN DOWD DIRECTOR 1.00 X 0 0 0 MR EBERHARD FABER DIRECTOR 1.00 X 0 0 0 MRS JANE B FEINSTEIN DIRECTOR 1.00 X 0 0 0 MR JAMES K FOSTER DIRECTOR 1.00 X 0 0 0 MS ELLEN C GALLAGHER DIRECTOR 1.00 X 0 0 0 MS HEIDI GERDING DIRECTOR 1.00 X 0 0 0 REV DANIEL GROODY CSC DIRECTOR 1.00 X 0 0 0 MR JONATHAN HOSEY MD DIRECTOR 1.00 X 0 0 0 MR EDWARD F KEARNEY DIRECTOR 1.00 X 0 0 0 MR JOSEPH E KLUGER ESQ DIRECTOR 1.00 X 0 0 0 MR PETER P KOZLOSKI DIRECTOR 1.00 X 0 0 0 REV WILLIAM M LIES CSC PHD DIRECTOR 1.00 X 0 0 0 MR MICHAEL D MOLEWSKI DIRECTOR 1.00 X 0 0 0 MR TIMOTHY J MORRIS DIRECTOR 1.00 X 0 0 0 MR JOHN G NACKLEY DIRECTOR 1.00 X 0 0 0 MR JOHN D O'BRIEN DIRECTOR 1.00 X 0 0 0 REV GERARD J OLIGNER CSC DIRECTOR 1.00 X 0 0 0 MR RICHARD J PINOLA DIRECTOR 1.00 X 0 0 0 REV MARK L POORMAN CSC DIRECTOR 1.00 X 0 0 0 MR DAVID A SCHANKWEILER DIRECTOR 1.00 X 0 0 0 MR JAMES V SCHNEIDER DIRECTOR 1.00 X 0 0 0 MR DAVID J SELINGO ESQ DIRECTOR 1.00 X 0 0 0 MS PATRICIA E SINEX DIRECTOR 1.00 X 0 0 0 REV KEVIN P SPICER CSC DIRECTOR 1.00 X 0 0 0 BRO DONALD STABROWSKI CSC DIRECTOR 1.00 X 0 0 0 MR GLENN TYRANSKI DIRECTOR 1.00 X 0 0 0 MS SUSAN E UNVARSKY DIRECTOR 1.00 X 0 0 0 REV OLIVER F WILLIAMS CSC DIRECTOR 1.00 X 0 0 0 REV JOHN L YOUNG CSC MD DIRECTOR 1.00 X 0 0 0 MR SCOTT HENRY DIRECTOR (UNTIL 12/18) 1.00 X 0 0 0 MS GERTRUDE C MCGOWAN ESQ DIRECTOR (UNTIL 10/18) 1.00 X 0 0 0 MR JAMES T O'HARA ESQ DIRECTOR (UNTIL 10/18) 1.00 X 0 0 0 REV THOMAS J O'HARA CSC DIRECTOR (UNTIL 10/18) 1.00 X 0 0 0 MS CATHERINE J SERAFIN ESQ DIRECTOR (UNTIL 10/18) 1.00 X 0 0 0 MR WALTER TISCHER DIRECTOR (UNTIL 10/18) 1.00 X 0 0 0 REV JOHN J RYAN CSC PRESIDENT 40.00 X 0 0 11625 MR JOHN R LOYACK EXEC. VICE PRESIDENT/CFO 40.00 X 206260 0 50186 MR JOSEPH M EVAN PROVOST/VP ACADEMIC AFFAIR 40.00 X 185750 0 34967 MR FREDERICK A PETTIT ESQ VP INSTUTIONAL ADVANCEMENT 40.00 X 185505 0 53457 MR BARRY H WILLIAMS ESQ DEAN, BUSINESS SCHOOL 40.00 X 144733 0 50611 MS JANET E MERCINCAVAGE VP OF STUDENT AFFAIRS 40.00 X 141419 0 30884 MR PAUL J MORAN CHIEF INFORMATION OFFICER 40.00 X 136459 0 39940 DR TARA SHAWVER PROF. OF ACCOUNTING & DEPT 40.00 X 130205 0 33566 MR JC BLEWITT ASSISTANT PROFESSOR MGMT 40.00 X 117857 0 35573 MR PAUL LAMORE PROFESSOR ENGINEERING& MGMT 40.00 X 117494 0 29739 1365682 0 370548 24 0 1 0 COMPASS GROUP USA INC CHARTWELL DIV 2400 YORKMONT RD CHARLOTTE NC 28217 DINING SERVICES 4508270 PANZITTA ENTERPRISES INC 72 GEORGE AVE WILKES BARRE PA 18705 CONSTRUCTION SERVICES 409392 POWER ENGINEERING CORP 901 JUMPER RD WILKES BARRE PA 18702 CONSTRUCTION SERVICES 402509 TWIN CITY BUILDERS INC 19 NEW FREDERICK ST WILKES BARRE PA 18702 CONSTRUCTION SERVICES 297445 SPARK451 INC 865 MERRICK AVE 451 WESTBURY NY 11590 MARKETING & ENROLLMENT MANAGEMENT 274362 11 296000 2731906 3911411 70341 6939317 STUDENT TUITION & FEES 611600 81626990 81626990 AUXILIARY (ROOM/BOARD) 721310 14228708 14157597 71111 INTERNAL PRINT REVENUE 611600 118392 118392 THEATRE ADMISSION 711110 3248 3248 95977338 1040145 62800 977345 148385 116716 31669 31669 -887 32556 7019342 3426849 3592493 3592493 3592493 47250 296000 105992 -58742 -58742 FINES (LIBRARY & PRKG) 812930 463 463 3215 3215 3678 107525898 95906690 133024 4546867 34378501 34378501 920717 678661 242056 27479507 22520581 3967360 991566 1797827 1494849 262189 40789 6360664 4467469 1710663 182532 1955192 1592537 314655 48000 32669 32669 68600 68600 65654 65654 94568 94568 1360169 808586 540924 10659 924137 896741 12126 15270 3585648 2815223 692374 78051 1318342 944527 333564 40251 2863063 2535549 293967 33547 839040 757981 19267 61792 137309 83709 26515 27085 2437980 2266673 171307 4371350 4092900 255461 22989 491865 168507 323358 FOOD 5034557 4874120 66351 94086 ATHLETIC TEAM EXPENSES 657003 657003 BAD DEBT EXPENSE 555950 555950 DUES AND SUBSCRIPTIONS 194789 101743 83825 9221 218328 182091 19714 16523 98143429 86293563 9840881 2008985 748832 2420410 1852037 4279217 4604512 4568668 2613422 3746294 50000 2514605 2173995 -3321 712 644071 189483 190686625 78859525 113931064 111827100 13441538 8396552 74005395 77671146 7252920 15947781 221655075 231221358 5635906 5656627 4048069 2960565 62180000 63275026 3000000 3000000 3288604 5056285 78152579 79948503 X 74385743 79724799 27704255 28759768 41412498 42788288 143502496 151272855 221655075 231221358 X 9382469 319093 -1931203 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 65654 65654 0 PART II-B, LINE 1: THE COLLEGE PAID MAVERICK STRATEGIES TO MEET WITH LEGISLATIVE REPRESENTATIVES. 84545282 1600750 4368575 2632490 1110927 86771190 77806569 2787995 7444351 2354687 1138946 84545282 68256248 5174310 7660798 2191677 1093110 77806569 70165262 633955 402360 1992160 953169 68256248 68607492 785391 3657608 1915558 969671 70165262 0.25150 0.49350 0.25500 1 0 18599501 18599501 130114621 58286591 71828030 35503232 19295903 16207329 6469271 1277031 5192240 111827100 1434832 F BAY RESOURCE PARTNERS 2574 F BENEFICIAL INTERESTS IN ASSETS HELD BY OTHERS 76233740 F 77671146 BENEFICIAL INTEREST IN PERPETUAL TRUSTS 6802517 DEFERRED FINANCING COSTS 598583 RELATED PARTY RECEIVABLE 3326400 INVESTMENT IN SBM LLC 5220281 15947781 AGENCY FUNDS PAYABLE 752036 REFUNDABLE ADVANCES - GRANTS 1838880 FAIR VALUE - INTEREST RATE SWAP 2465369 5056285 X 72932608 319093 -35135091 -34815998 107748606 -222708 -222708 107525898 64593108 222708 222708 64370400 33773029 33773029 98143429 PART V, LINE 4: THE COLLEGE'S ENDOWMENT IS USED TO PROVIDE SCHOLARSHIPS TO STUDENTS AND PROVIDE FUNDS TO OFFSET FACULTY SALARIES AND DEVELOPMENT COSTS. PART X, LINE 2: THE COLLEGE ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES USING 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 IS MET. MANAGEMENT DETERMINED THAT THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD IN 2019 AND 2018. THE COLLEGE IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. PART XI, LINE 2D - OTHER ADJUSTMENTS: INTERNAL STUDENT AID NETTED TO REVENUE ON THE FINANCIALS -33,773,029. CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS -206,712. CHANGE IN FAIR MARKET VALUE OF INTEREST RATE SWAPS -1,793,251. GAIN ON TERMINATION OF INTEREST RATE SWAP 68,760. NET INCOME OF CONSOLIDATED RELATED PARTY -22,948. CHANGE IN NONCONTROLLING INTEREST IN SUBSIDIARY 592,089. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -116,716. FUNDRAISING EXPENSES -105,992. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 116,716. FUNDRAISING EXPENSES 105,992. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTERNAL STUDENT AID NETTED TO REVENUE ON THE FINANCIALS 33,773,029. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 WHILE THE COLLEGE DOES NOT PUBLICIZE ITS RACIALLY NONDISCRIMINATORY POLICY THROUGH NEWSPAPER OR BROADCAST MEDIA DIRECTLY, THE NONDISCRIMINATORY POLICY IS PUBLISHED IN THE COLLEGE VIEWBOOK, FINANCIAL AID BROCHURE AND OTHER KEY PUBLICATIONS, WHICH ARE DISTRIBUTED TO EVERY APPLICANT AND AVAILABLE TO THE PUBLIC. THE POLICY IS ALSO PUBLISHED ON THE COLLEGE'S WEBSITE. IN THIS REGARD, THE COLLEGE COMPLIES WITH PARAGRAPHS B AND C, SUBSECTION 4.03 OF REV. PROC. 75-50, 1975-2 C.B. 587. SCHEDULE E, PART I, LINE 6 KING'S COLLEGE RECEIVES OPERATING FUNDS DESIGNATED BY GOVERNMENT FUNDING AGENCIES FOR PARTICULAR OPERATING PURPOSES. CERTAIN STUDENTS OF THE COLLEGE WERE RECIPIENTS OF GRANTS UNDER THE PENNSYLVANIA HIGHER EDUCATION ASSISTANCE ACT. THE COLLEGE ACTS AS THE CUSTODIAN AND DISBURSING AGENT FOR THESE FUNDS. X X X X X X X 1 MARTS & LUNDY 1200 WALL STREET WEST LYNDHURST NJ 07071 CONSULTING 0 0 90464 0 90464 LACKENMIER DINNER 314130 280530 33600 851 22462 43931 25786 FATHER FARBER GOLF OUTING 29120 15470 13650 3925 7961 1076 343250 296000 47250 4776 30423 43931 26862 105992 -58742 1 COLLEGE ENDOWED SCHOLARSHIPS 2081 33183842 MCGOWAN HISPANIC OUTREACH 15 254188 HOLY CROSS MISSION DEVELOPMENT SCHOLARSHIP 11 30000 SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT 246 205537 RESIDENT ASSISTANT SCHOLARSHIPS 30 402730 PRESIDENTIAL HOPE FUND SCHOLARSHIPS 60 276204 APPLESEED FOUNDATION 7 26000 PART I, LINE 2: THE COLLEGE'S FINANCIAL AID OFFICE EVALUATES EACH STUDENT'S FINANCIAL NEED, AS DETERMINED THROUGH INFORMATION PROVIDED ON THE STUDENT FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA). MANAGEMENT AWARDS MERIT SCHOLARSHIPS TO INDIVIDUALS THAT QUALIFY, BASED ON DONOR STIPULATIONS (I.E. SPECIFIC MAJORS, LOCALITY, ETC.) AND AWARDS FEDERAL, STATE, AND PRIVATE NEED BASED AWARDS TO PROVIDE ADDITIONAL RESOURCES TO STUDENTS FOR THEIR HIGHER EDUCATION EXPENSES. INDIVIDUALS RECEIVING AWARDS ARE ON CAMPUS AND MEET WITH FINANCIAL AID COUNSELORS TO ENSURE STUDENTS ARE RESIDENTS WITHIN THE US AND ENROLLED AT THE INSTITUTION. X 1 1 X X X X 0 0 0 0 0 0 0 1 0 MR JOHN R LOYACK EXEC. VICE PRESIDENT/CFO 183960 0 17500 0 4800 0 9387 0 40799 0 256446 0 0 0 MR JOSEPH M EVAN PROVOST/VP ACADEMIC AFFAIR 165550 0 17500 0 2700 0 8690 0 26277 0 220717 0 0 0 MR FREDERICK A PETTIT ESQ VP INSTUTIONAL ADVANCEMENT 168005 0 17500 0 0 0 8370 0 45087 0 238962 0 0 0 MR BARRY H WILLIAMS ESQ DEAN, BUSINESS SCHOOL 127033 0 3000 0 14700 0 6428 0 44183 0 195344 0 0 0 MS JANET E MERCINCAVAGE VP OF STUDENT AFFAIRS 129619 0 7000 0 4800 0 6607 0 24277 0 172303 0 0 0 MR PAUL J MORAN CHIEF INFORMATION OFFICER 121909 0 0 0 14550 0 6181 0 33759 0 176399 0 0 0 DR TARA SHAWVER PROF. OF ACCOUNTING & DEPT 110205 0 0 0 20000 0 5507 0 28059 0 163771 0 0 0 MR JC BLEWITT ASSISTANT PROFESSOR MGMT 94582 0 0 0 23275 0 4951 0 30622 0 153430 0 0 0 PART I, LINE 1A THE COLLEGE PAID THE INITIATION FEES AND MONTHLY DUES MEMBERSHIPS FOR FR. JOHN J. RYAN, C.S.C., MR. JOHN R. LOYACK, AND MR. FREDERICK A. PETTIT TO THE WESTMORELAND CLUB. THE WESTMORELAND CLUB IS A NON-PROFIT SOCIAL CLUB USED BY MEMBERS OF MANAGEMENT TO HOST MEETINGS WITH BUSINESS PARTNERS OF THE COLLEGE, BOARD MEMBERS, POTENTIAL DONORS, FACULTY, AND STAFF. PART I, LINE 1B THE EXPENSES INCURRED AT THE WESTMORELAND CLUB ARE SUBJECT TO THE DOCUMENTATION REQUIREMENTS OF THE COLLEGE. PART I, LINE 7 THE COLLEGE PAID PERFORMANCE BASED BONUSES TO VARIOUS MEMBERS OF THE ADMINISTRATION. PAYMENTS ARE IDENTIFIED IN PART II OF THIS FORM. BONUSES ARE BASED ON A COMBINATION OF EXEMPLARY PERFORMANCE WITHIN THEIR DIVISION AND OVERALL FINANCIAL RESULTS OF THE SCHOOL. THE PRESIDENT AND BOARD CHAIR MEET TO DISCUSS PERFORMANCE AND APPLICABLE BONUSES. THE BOARD CHAIR THEN MEETS WITH THE COMPENSATION COMMITTEE TO RECOMMEND THE BONUSES FOR APPROVAL. A DALLAS AREA MUNICIPAL AUTHORITY 231746641 2014-10-10 70000000 SEE PART VI 0 0 0 B NORTHEASTERN PENNSYLVANIA HOSPITAL AND EDUCATION AUTHORITY 237394107 664551DA3 2019-05-16 50575026 SEE PART VI 0 0 0 A 57300000 70000000 269828 26879785 42850387 2016 1 0 1 1 B 50575026 551525 2012760 48010741 2019 1 0 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 1 1 FIRST NATIONAL BANK 12.000000000000 1 0 0 0 1 B 0 0 1 0 1 0 0 0 1 A 1 B 1 SCHEDULE K, PART I, BOND ISSUES: BOND 1: (A) ISSUER NAME: DALLAS AREA MUNICIPAL AUTHORITY (F) DESCRIPTION OF PURPOSE: TO REFUND EXISTING TAX EXEMPT DEBT OBLIGATIONS, PROVIDE FUNDING FOR PROPERTY ACQUISITION AND CAPITAL PROJECTS. BOND 2: (A) ISSUER NAME: NORTHEASTERN PENNSYLVANIA HOSPITAL AND EDUCATION AUTHORITY (F) DESCRIPTION OF PURPOSE: PROCEEDS OF THE 2019 BONDS WILL BE USED TO (I) CURRENTLY REFUND THE DALLAS AREA MUNICIPAL AUTHORITY'S OUTSTANDING COLLEGE REVENUE NOTES, SERIES B OF 2014, (II) FINANCE MISCELLANEOUS CAPITAL EXPENDITURES WITH RESPECT TO THE COLLEGE'S FACILITIES, AND (III) PAY COSTS RELATED TO THE ISSUANCE OF THE 2019 BONDS. JOSEPH KLUGER DIRECTOR 102796 SEE PART V 0 SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTEREST PERSONS: (A) NAME OF PERSON: JOSEPH E. KLUGER, ESQ.(D) DESCRIPTION OF TRANSACTION: MR. KLUGER IS A SHAREHOLDER IN HOURIGAN, KLUGER & QUINN, PC. THE COMPANY PROVIDES LEGAL SERVICES TO THE COLLEGE. ALL TRANSACTIONS WERE CONDUCTED AT ARM'S LENGTH. X 7 70341 CLOSING COST 0 0 0 PART I, COLUMN (B): THE NUMBER IN COLUMN B REPRESENTS THE NUMBER OF DONORS. FORM 990, PART VI, SECTION A, LINE 2 DIRECTORS EBERHARD FABER, MICHAEL D. MOLEWSKI, AND RICHARD J. PINOLA HAVE BUSINESS RELATIONSHIPS. DIRECTORS REV. THOMAS J. O'HARA, C.S.C. AND JAMES T. O'HARA HAVE A FAMILIAL RELATIONSHIP. REV. THOMAS J. O'HARA, C.S.C. IS THE PROVINCIAL OF THE U.S. PROVINCE OF HOLY CROSS PRIESTS AND BROTHERS. THE PRESIDENT OF KING'S COLLEGE, REV. JOHN J. RYAN, C.S.C. (ALONG WITH ALL OTHER PRIESTS AND BROTHERS EMPLOYED BY THE COLLEGE) ARE MEMBERS OF THE U.S. PROVINCES OF HOLY CROSS PRIESTS AND BROTHERS. REV. JOHN F. DENNING, REV. DANIEL GROODY, REV. GERARD J. OLINGER, REV. MARK L. POORMAN, REV. JAMES L. REBETA, REV. KEVIN P. SPICER, BRO. DONALD STABROWSKI, REV. OLIVER F. WILLIAMS, AND REV. JOHN L. YOUNG ARE MEMBERS OF THE U.S. PROVINCE OF HOLY CROSS AND DIRECTORS OF THE COLLEGE. FORM 990, PART VI, SECTION A, LINE 3 THE MANAGEMENT OF THE DINING SERVICES AND CONFERENCE AND EVENTS DEPARTMENTS ARE CONTRACTED TO THE COMPASS GROUP (CHARTWELLS). THE RESPECTIVE MANAGERS EMPLOYED BY CHARTWELLS REPORT TO THE DIRECTOR OF CONTRACT COMPLIANCE (COLLEGE EMPLOYEE). THE ULTIMATE DECISION AUTHORITY RESTS WITH THE COLLEGE'S MANAGERS AND EXECUTIVE VICE PRESIDENT & CFO, INCLUDING PERSONNEL DECISIONS. EMPLOYEES OF CHARTWELLS ARE SUBJECT TO THE EMPLOYEE PAY PRACTICES AND BENEFITS OFFERED BY CHARTWELLS. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE CORPORATION OF KING'S COLLEGE INCLUDE ALL FULL-FLEDGED MEMBERS OF THE CONGREGATION OF HOLY CROSS WHOSE OFFICIAL ASSIGNMENT IS DIRECTLY RELATED TO KING'S COLLEGE. THE MEMBERS MEET AT LEAST ANNUALLY AND AS OFTEN AS DEEMED NECESSARY BY THE MEMBERS, CORPORATE OFFICERS OR BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE CORPORATION, THROUGH CONSULTATION WITH VARIOUS BOARD COMMITTEES, ELECT THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS ACTS AS THE GOVERNING BODY OF THE COLLEGE. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 AND 990T IS PROVIDED TO THE COLLEGE'S AUDIT COMMITTEE, IN DRAFT FORM, DURING A REGULARLY SCHEDULED MEETING. THE INFORMATION PRESENTED TO THE COMMITTEE MEMBERS IS PROVIDED TO THEM PRIOR TO THE MEETING DATE FOR REVIEW AND ANALYSIS. THE COMMITTEE MEMBERS REVIEW THE FORMS INDIVIDUALLY AND RAISE QUESTIONS AND CONCERNS REGARDING THE INFORMATION PRESENTED TO MANAGEMENT DURING THE MEETING. FOLLOWING APPROVAL OF THE AUDIT COMMITTEE, THE DRAFT FORMS ARE MADE AVAILABLE TO THE ENTIRE BOARD THROUGH A SECURE BOARD PORTAL ACCESSIBLE TO ALL MEMBERS. THE BOARD CHAIR INFORMS THE DIRECTORS OF THE DRAFTS AND HOW TO ACCESS THEM DURING A REGULARLY SCHEDULED MEETING. COMMENTS REGARDING THE FORMS ARE ACCUMULATED AND ADDRESSED BY THE CONTROLLER AND CHIEF ACCOUNTING OFFICER DURING A SUBSEQUENT PERIOD OF NO LESS THAN 30 DAYS. THE FORMS ARE ALSO REVIEWED BY INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS SPECIALIZING IN NON-PROFIT TAX COMPLIANCE. AT THE CONCLUSION OF THE REVIEW PERIOD, THE BOARD OF DIRECTORS WILL AUTHORIZE MANAGEMENT TO FILE THE FORMS WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE ASSISTANT TO THE PRESIDENT OF THE COLLEGE WILL DISTRIBUTE THE CONFLICT OF INTEREST POLICY AND CERTIFICATION STATEMENT AT THE DIRECTION OF THE BOARD CHAIR. THE POLICY AND CERTIFICATION STATEMENTS ARE DISTRIBUTED PRIOR TO THE ANNUAL MEETING EACH OCTOBER. THE COMPLETED CERTIFICATIONS ARE REVIEWED BY THE CONTROLLER AND CHIEF ACCOUNTING OFFICER, WHO OBTAIN ADDITIONAL INFORMATION AS NECESSARY. THE BOARD CHAIR AND PRESIDENT OF THE COLLEGE MONITOR COMPLIANCE WITH THE POLICY DURING EACH BOARD MEETING WHERE VOTING ACTIONS OCCUR. INDIVIDUALS WITH IDENTIFIED CONFLICTS ARE PROHIBITED FROM PROVIDING COMMENTARY OR VOTING ON THE RELATED RESOLUTIONS RELATED TO THE CONFLICTED TRANSACTIONS. FORM 990, PART VI, SECTION B, LINE 15 THE COLLEGE'S BOARD OF DIRECTORS MAINTAINS AN EXECUTIVE COMPENSATION COMMITTEE TO DETERMINE THE COMPENSATION OF THE CEO AND MEMBERS OF THE EXECUTIVE TEAM, INCLUDING ALL VICE PRESIDENTS. COMPENSATION IS BASED ON AN EVALUATION OF SALARIES PAID TO INDIVIDUALS WITH SIMILAR ROLES AT COMPARABLE INSTITUTIONS WITHIN THE GEOGRAPHIC REGION. THE CEO PREPARES ANNUAL EVALUATIONS OF THE PERFORMANCE OF EACH VICE PRESIDENT AND RECOMMENDS AN ANNUAL RAISE AND PERFORMANCE BONUS. THE EXECUTIVE'S TOTAL COMPENSATION, INCLUDING BONUSES, ARE USED TO EVALUATE THE COMPENSATION OF EACH INDIVIDUAL. THE COMPENSATION COMMITTEE REVIEWS COMPARABLE DATA IN RELATION TO THE TOTAL COMPENSATION PAID TO EACH EXECUTIVE AND APPROVES THE COMPENSATION PACKAGE. FORM 990, PART VI, SECTION C, LINE 18 THE COLLEGE MAINTAINS PUBLIC INSPECTION COPIES OF FORMS 990 AND FORM 990-T IN THE COLLEGE'S BUSINESS OFFICE DURING REGULARLY SCHEDULED HOURS. FURTHER, A COPY OF THE FORM 990 IS AVAILABLE AT WWW.GUIDESTAR.ORG. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY OR FINANCIAL STATEMENTS AVAILABLE TO THE GENERAL PUBLIC. THE CONFLICT OF INTEREST STATEMENT AND BY-LAWS ARE AVAILABLE ON THE COLLEGE'S INTRANET WEBSITE TO INDIVIDUALS WITH ACCESS TO THE COLLEGE'S NETWORK. THE COLLEGE MAKES IT'S FINANCIAL STATEMENTS AVAILABLE TO COLLEGE EMPLOYEES THROUGH INDIVIDUAL REQUEST MADE TO THE COLLEGE'S CONTROLLER AND CHIEF ACCOUNTING OFFICER DURING REGULARLY SCHEDULED BUSINESS HOURS. FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS -206,712. CHANGE IN FAIR MARKET VALUE OF INTEREST RATE SWAPS -1,793,251. GAIN ON TERMINATION OF INTEREST RATE SWAP 68,760. FORM 990, PART XI, LINE 2C: THERE HAS BEEN NO CHANGE IN THE SELECTION OR OVERSIGHT OF THE COLLEGE'S INDEPENDENT AUDITORS. THE COLLEGE'S AUDIT COMMITTEE MEETS WITH THE REPRESENTATIVES OF THE INDEPENDENT AUDITORS AT LEAST TWO TIMES PER YEAR. THE COMMITTEE REVIEWS THE QUALIFICATIONS, COMPENSATION, AND SERVICES PROVIDED BY THE INDEPENDENT AUDITING FIRM. THE AUDIT COMMITTEE REVIEWS AND EXECUTES THE ENGAGEMENT LETTERS RELATED TO THE SERVICES PROVIDED AND REVIEWS ALL COMMUNICATIONS REQUIRED BY AUDITING STANDARDS GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THE AUDIT COMMITTEE RECOMMENDS APPOINTMENT OF THE INDEPENDENT AUDITORS TO THE FULL BOARD FOR APPROVAL ANNUALLY. SBM HTC LLC 133 N RIVER ST WILKES BARRE PA 18711 611577658 RENTAL REAL ESTATE PA N/A SPRING BROOK MEMORIAL LLC 133 N RIVER ST WILKES BARRE PA 18711 823759006 RENTAL REAL ESTATE PA N/A SBM HTC HOLDINGS LLC 133 NORTH RIVER STREET WILKES BARRE PA 18711 831845393 REAL ESTATE INVESTMENT PA KING'S COLLEGE C 14589 4770913 1.00000 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0